Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

1

Shares

Common

Stock

(

45.3%

)

Value

Communications

Services

(3.2%)

19,265

Alphabet,

Inc.,

Class

A

a

$

2,521,018

168,263

Alphabet,

Inc.,

Class

C

a

22,185,476

10,868

Altice

USA,

Inc.

a

35,538

5,612

AMC

Networks,

Inc.

a

66,109

2,230

Bumble,

Inc.

a

33,272

45

Cable

One,

Inc.

27,704

59,290

Cargurus,

Inc.

a

1,038,761

94,924

Comcast

Corporation

4,208,930

63,083

DISH

Network

Corporation

a

369,666

454

Electronic

Arts,

Inc.

54,662

6,237

Emerald

Holding,

Inc.

a

28,191

2,175

Entravision

Communications

Corporation

7,939

8,648

Frontier

Communications

Parent,

Inc.

a

135,341

13,680

iHeartMedia,

Inc.

a

43,229

3,621

Imax

Corporation

a

69,958

11,604

Integral

Ad

Science

Holding

Corporation

a

137,972

4,052

Interpublic

Group

of

Companies,

Inc.

116,130

9,105

Liberty

Global

plc,

Class

A

a

155,878

25,572

Liberty

Global

plc,

Class

C

a

474,616

6,347

Liberty

Latin

America,

Ltd.,

Class

A

a

51,791

3,081

Live

Nation

Entertainment,

Inc.

a

255,846

73,888

Lumen

Technologies,

Inc.

a,b

104,921

2,301

Match

Group,

Inc.

a

90,142

41,186

Meta

Platforms,

Inc.

a

12,364,449

7,606

Netflix,

Inc.

a

2,872,026

752

Omnicom

Group,

Inc.

56,009

146,271

QuinStreet,

Inc.

a

1,312,051

789

Shutterstock,

Inc.

30,021

2,521

Sinclair,

Inc.

28,286

1,880

TechTarget,

Inc.

a

57,077

4,316

Telephone

and

Data

Systems,

Inc.

79,026

17,088

Trade

Desk,

Inc.

a

1,335,427

1,039

Tripadvisor,

Inc.

a

17,227

135,141

Verizon

Communications,

Inc.

4,379,920

14,371

Walt

Disney

Company

a

1,164,769

103,051

Warner

Brothers

Discovery,

Inc.

a

1,119,134

151

Yelp,

Inc.

a

6,280

40,129

Ziff

Davis,

Inc.

a

2,555,816

Total

59,590,608

Consumer

Discretionary

(5.1%)

4,359

2U,

Inc.

a

10,767

114

Adient

plc

a

4,184

151,367

Amazon.com,

Inc.

a

19,241,773

838

American

Axle

&

Manufacturing

Holdings,

Inc.

a

6,084

11,354

American

Eagle

Outfitters,

Inc.

188,590

44,250

Aptiv

plc

a

4,362,608

4,804

Autoliv,

Inc.

463,490

82

AutoNation,

Inc.

a

12,415

1,274

Beazer

Homes

USA,

Inc.

a

31,735

1,609

Best

Buy

Company,

Inc.

111,777

1,048

Booking

Holdings,

Inc.

a

3,231,980

16,358

Boot

Barn

Holdings,

Inc.

a

1,328,106

1,349

Brunswick

Corporation

106,571

2,723

Buckle,

Inc.

90,921

16,101

Cedar

Fair,

LP

595,737

88

Cheesecake

Factory,

Inc.

2,666

557

Chegg,

Inc.

a

4,968

1,606

Chipotle

Mexican

Grill,

Inc.

a

2,941,919

Shares

Common

Stock

(45.3%)

Value

Consumer

Discretionary

(5.1%)

-

continued

125,112

Clarus

Corporation

$

945,847

18,846

Columbia

Sportswear

Company

1,396,489

3,846

Container

Store

Group,

Inc.

a

8,653

40,101

Cooper-Standard

Holdings,

Inc.

a

538,155

8,793

Crocs,

Inc.

a

775,806

1,475

Culp,

Inc.

a

8,230

12,893

D.R.

Horton,

Inc.

1,385,611

10,937

Dana,

Inc.

160,446

2,112

Darden

Restaurants,

Inc.

302,481

2,600

Deckers

Outdoor

Corporation

a

1,336,634

8,662

Domino's

Pizza,

Inc.

3,281,079

365

Dorman

Products,

Inc.

a

27,652

4,442

eBay,

Inc.

195,848

1,505

Etsy,

Inc.

a

97,193

144,048

Everi

Holdings,

Inc.

a

1,904,315

1,073

Expedia

Group,

Inc.

a

110,594

16,038

Five

Below,

Inc.

a

2,580,514

1,945

Ford

Motor

Company

24,157

19,364

Fox

Factory

Holding

Corporation

a

1,918,585

10,054

Gap,

Inc.

106,874

22,434

General

Motors

Company

739,649

6,226

Gentex

Corporation

202,594

6,443

Goodyear

Tire

&

Rubber

Company

a

80,086

3,574

Grand

Canyon

Education,

Inc.

a

417,729

2,028

Green

Brick

Partners,

Inc.

a

84,182

9,249

Harley-Davidson,

Inc.

305,772

9,063

Hilton

Worldwide

Holdings,

Inc.

1,361,081

24,007

Home

Depot,

Inc.

7,253,955

181

Hyatt

Hotels

Corporation

19,200

741

KB

Home

34,293

11,430

Laureate

Education,

Inc.

161,163

1,602

La-Z-Boy,

Inc.

49,470

3,767

Lear

Corporation

505,531

1,326

Lennar

Corporation

148,817

13,948

Lowe's

Companies,

Inc.

2,898,952

4,577

Lululemon

Athletica,

Inc.

a

1,764,937

1,051

M/I

Homes,

Inc.

a

88,326

112

Malibu

Boats,

Inc.

a

5,490

671

Marriott

International,

Inc./MD

131,892

144

Marriott

Vacations

Worldwide

Corporation

14,491

4,540

McDonald's

Corporation

1,196,018

8,105

Meritage

Homes

Corporation

991,971

5,697

MGM

Resorts

International

209,422

334

Modine

Manufacturing

Company

a

15,280

5,395

Mohawk

Industries,

Inc.

a

462,945

8,696

Nordstrom,

Inc.

b

129,918

477

NVR,

Inc.

a

2,844,494

1,095

ODP

Corporation

a

50,534

3,503

O'Reilly

Automotive,

Inc.

a

3,183,737

22,888

Papa

John's

International,

Inc.

1,561,419

3,086

PENN

Entertainment,

Inc.

a

70,824

2,824

Playa

Hotels

and

Resorts

NV

a

20,446

2,818

Polaris,

Inc.

293,467

3,558

Pool

Corporation

1,267,004

1,740

PulteGroup,

Inc.

128,847

30,981

Qurate

Retail,

Inc.

a

18,793

3,929

Ross

Stores,

Inc.

443,781

4,596

SeaWorld

Entertainment,

Inc.

a

212,565

943

Six

Flags

Entertainment

Corporation

a

22,170

24,537

Skyline

Champion

Corporation

a

1,563,498

22,224

Sonos,

Inc.

a

286,912

20,631

Sony

Group

Corporation

ADR

1,700,201

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

2

Shares

Common

Stock

(45.3%)

Value

Consumer

Discretionary

(5.1%)

-

continued

81,886

Stoneridge,

Inc.

a

$

1,643,452

388

Taylor

Morrison

Home

Corporation

a

16,533

33,674

Tesla,

Inc.

a

8,425,908

152,349

ThredUp,

Inc.

a

610,919

276

TopBuild

Corporation

a

69,442

7,259

Travel

+

Leisure

Company

266,623

12

Ulta

Beauty,

Inc.

a

4,793

3,557

Upbound

Group,

Inc.

104,754

3,567

Urban

Outfitters,

Inc.

a

116,605

130

Vail

Resorts,

Inc.

28,846

326

Visteon

Corporation

a

45,011

11,442

Wendy's

Company

233,531

4,865

Wingstop,

Inc.

874,922

12,563

Wyndham

Hotels

&

Resorts,

Inc.

873,631

Total

96,098,280

Consumer

Staples

(2.3%)

19,390

Altria

Group,

Inc.

815,350

3,298

Archer-Daniels-Midland

Company

248,735

37,487

BJ's

Wholesale

Club

Holdings,

Inc.

a

2,675,447

307

Boston

Beer

Company,

Inc.

a

119,586

791

Cal-Maine

Foods,

Inc.

38,300

8,566

Casey's

General

Stores,

Inc.

2,325,840

14,603

Celsius

Holdings,

Inc.

a

2,505,875

40,718

Coca-Cola

Company

2,279,394

13,498

Colgate-Palmolive

Company

959,843

131,318

Coty,

Inc.

a

1,440,558

1,136

Darling

Ingredients,

Inc.

a

59,299

16,218

e.l.f.

Beauty,

Inc.

a

1,781,223

9,679

Flowers

Foods,

Inc.

214,680

615

Hain

Celestial

Group,

Inc.

a

6,378

196

Hershey

Company

39,216

4,623

Hormel

Foods

Corporation

175,813

877

Ingredion,

Inc.

86,297

6,262

J

&

J

Snack

Foods

Corporation

1,024,776

7,327

John

B.

Sanfilippo

&

Son,

Inc.

723,908

50,524

Kenvue,

Inc.

1,014,522

12,365

Kimberly-Clark

Corporation

1,494,310

3,463

Kroger

Company

154,969

18,472

Lamb

Weston

Holdings,

Inc.

1,707,921

11,010

Lancaster

Colony

Corporation

1,816,980

14,442

Mondelez

International,

Inc.

1,002,275

376

PepsiCo,

Inc.

63,709

33,399

Philip

Morris

International,

Inc.

3,092,079

23,880

Pilgrim's

Pride

Corporation

a

545,180

331

PriceSmart,

Inc.

24,636

51,143

Primo

Water

Corporation

705,773

6,560

Procter

&

Gamble

Company

956,842

50

Seneca

Foods

Corporation

a

2,692

1,896

Simply

Good

Foods

Company

a

65,450

850

SpartanNash

Company

18,700

25,533

Sysco

Corporation

1,686,455

58,388

Turning

Point

Brands,

Inc.

1,348,179

10,954

Tyson

Foods,

Inc.

553,067

44,730

US

Foods

Holding

Corporation

a

1,775,781

42,707

Walmart,

Inc.

6,830,131

Total

42,380,169

Energy

(2.0%)

7,815

APA

Corporation

321,196

40,124

BP

plc

ADR

1,553,601

1,008

Cactus,

Inc.

50,612

1,312

California

Resources

Corporation

73,485

2,662

Cheniere

Energy,

Inc.

441,785

Shares

Common

Stock

(45.3%)

Value

Energy

(2.0%)

-

continued

9,953

Chesapeake

Energy

Corporation

$

858,247

7,696

Chevron

Corporation

1,297,700

675

Chord

Energy

Corporation

109,397

128

Civitas

Resources,

Inc.

10,351

622

Comstock

Resources,

Inc.

6,861

26,545

ConocoPhillips

3,180,091

1,149

CVR

Energy,

Inc.

39,100

38,140

Devon

Energy

Corporation

1,819,278

79,735

Enterprise

Products

Partners,

LP

2,182,347

812

Evolution

Petroleum

Corporation

5,554

37,515

Exxon

Mobil

Corporation

4,411,014

2,017

Gran

Tierra

Energy,

Inc.

a

13,998

92,546

Halliburton

Company

3,748,113

1,651

Helmerich

&

Payne,

Inc.

69,606

3,716

HF

Sinclair

Corporation

211,552

5,542

International

Seaways,

Inc.

249,390

18,413

Liberty

Energy,

Inc.

341,009

3,115

Magnolia

Oil

&

Gas

Corporation

71,365

4,063

Marathon

Oil

Corporation

108,685

19,471

Marathon

Petroleum

Corporation

2,946,741

28,593

Matador

Resources

Company

1,700,712

3,774

Murphy

Oil

Corporation

171,151

78,562

NOV,

Inc.

1,641,946

820

ONEOK,

Inc.

52,013

5,483

Ovintiv,

Inc.

260,826

6,356

Par

Pacific

Holdings,

Inc.

a

228,435

1,720

Patterson-UTI

Energy,

Inc.

23,805

3,242

PBF

Energy,

Inc.

173,544

6,708

Phillips

66

805,966

18,082

Pioneer

Natural

Resources

Company

4,150,723

20,334

ProPetro

Holding

Corporation

a

216,150

9,055

RPC,

Inc.

80,952

5,420

SM

Energy

Company

214,903

1,121

Solaris

Oilfield

Infrastructure,

Inc.

11,950

13,054

Talos

Energy,

Inc.

a

214,608

156,429

TechnipFMC

plc

3,181,766

6,177

U.S.

Silica

Holdings,

Inc.

a

86,725

10,936

Viper

Energy

Partners,

LP

304,896

5,005

Williams

Companies,

Inc.

168,618

Total

37,810,767

Financials

(6.5%)

11,348

Allstate

Corporation

1,264,281

59,843

Ally

Financial,

Inc.

1,596,611

4,276

Amalgamated

Financial

Corporation

73,633

1,336

Amerant

Bancorp,

Inc.

23,300

23,958

American

Express

Company

3,574,294

1,098

American

Financial

Group,

Inc.

122,614

29,381

American

International

Group,

Inc.

1,780,489

9,481

Ameriprise

Financial,

Inc.

3,125,696

408

Ameris

Bancorp

15,663

6,533

Annaly

Capital

Management,

Inc.

122,886

68

Apollo

Global

Management,

Inc.

6,104

18,212

Arch

Capital

Group,

Ltd.

a

1,451,679

7,033

Arthur

J.

Gallagher

&

Company

1,603,032

1,922

Artisan

Partners

Asset

Management,

Inc.

71,921

5,660

Associated

Banc-Corp

96,843

535

Assurant,

Inc.

76,815

1,338

Assured

Guaranty,

Ltd.

80,976

291

Atlantic

Union

Bankshares

Corporation

8,375

513

Axis

Capital

Holdings,

Ltd.

28,918

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

3

Shares

Common

Stock

(45.3%)

Value

Financials

(6.5%)

-

continued

208

Axos

Financial,

Inc.

a

$

7,875

4,840

Banc

of

California,

Inc.

59,919

106,571

Bank

of

America

Corporation

2,917,914

722

Bank

of

Hawaii

Corporation

35,876

2,818

Bank

of

Marin

Bancorp

51,513

16,852

Bank

of

N.T.

Butterfield

&

Son,

Ltd.

456,352

54,432

Bank

of

New

York

Mellon

Corporation

2,321,525

1,244

Bank

OZK

46,115

1,433

BankFinancial

Corporation

12,352

3,393

BankUnited,

Inc.

77,021

2,742

Banner

Corporation

116,206

459

BayCom

Corporation

8,817

2,681

BCB

Bancorp,

Inc.

29,866

5,977

Berkshire

Hathaway,

Inc.

a

2,093,743

3,103

Berkshire

Hills

Bancorp,

Inc.

62,215

1,008

BlackRock,

Inc.

651,662

2,112

Block,

Inc.

a

93,477

171

BOK

Financial

Corporation

13,677

39,553

Bridgewater

Bancshares,

Inc.

a

374,962

2,698

Brighthouse

Financial,

Inc.

a

132,040

4,487

Brookline

Bancorp,

Inc.

40,877

2,075

Business

First

Bancshares,

Inc.

38,927

10,645

Byline

Bancorp,

Inc.

209,813

2,182

Cadence

Bank

46,302

12,090

Capital

One

Financial

Corporation

1,173,334

12,687

Carlyle

Group,

Inc.

382,640

383

Cathay

General

Bancorp

13,313

12,123

Central

Pacific

Financial

Corporation

202,212

246

Central

Valley

Community

Bancorp

3,471

27,379

Charles

Schwab

Corporation

1,503,107

13,961

Chubb,

Ltd.

2,906,401

8,709

Cincinnati

Financial

Corporation

890,844

8,402

Citigroup,

Inc.

345,574

10,131

Citizens

Financial

Group,

Inc.

271,511

2,056

CNB

Financial

Corporation

37,234

6,885

Columbia

Banking

System,

Inc.

139,765

33,133

Comerica,

Inc.

1,376,676

1,712

Commerce

Bancshares,

Inc.

82,142

320

Community

Bank

System,

Inc.

13,507

4,446

Community

Trust

Bancorp,

Inc.

152,320

2,005

ConnectOne

Bancorp,

Inc.

35,749

886

CrossFirst

Bankshares,

Inc.

a

8,940

859

Cullen/Frost

Bankers,

Inc.

78,349

1,864

Customers

Bancorp,

Inc.

a

64,215

1,273

CVB

Financial

Corporation

21,094

6,760

Dime

Community

Bancshares,

Inc.

134,930

11,057

Discover

Financial

Services

957,868

5,568

Eagle

Bancorp,

Inc.

119,434

3,167

East

West

Bancorp,

Inc.

166,933

841

Eastern

Bankshares,

Inc.

10,546

4,556

Ellington

Residential

Mortgage

REIT

28,293

1,110

Employers

Holdings,

Inc.

44,344

2,082

Enova

International,

Inc.

a

105,911

1,926

Enterprise

Financial

Services

Corporation

72,225

1,095

Equity

Bancshares,

Inc.

26,357

668

Euronet

Worldwide,

Inc.

a

53,026

111

EVERTEC,

Inc.

4,127

4,310

F.N.B.

Corporation

46,505

5,910

FactSet

Research

Systems,

Inc.

2,584,207

26,608

Federated

Hermes,

Inc.

901,213

Shares

Common

Stock

(45.3%)

Value

Financials

(6.5%)

-

continued

3,745

Fidelity

National

Information

Services,

Inc.

$

206,986

2,795

Fifth

Third

Bancorp

70,797

3,012

Financial

Institutions,

Inc.

50,692

1,595

First

Bancorp/Puerto

Rico

21,469

75

First

Citizens

BancShares,

Inc./NC

103,507

744

First

Commonwealth

Financial

Corporation

9,084

200

First

Financial

Bancorp

3,920

1,346

First

Financial

Bankshares,

Inc.

33,812

1,325

First

Financial

Corporation

44,798

6,658

First

Foundation,

Inc.

40,481

618

First

Hawaiian,

Inc.

11,155

18,605

First

Horizon

Corporation

205,027

1,379

First

Internet

Bancorp

22,354

363

First

Interstate

BancSystem,

Inc.

9,053

1,056

First

Merchants

Corporation

29,378

576

First

Mid-Illinois

Bancshares,

Inc.

15,299

2,868

First

of

Long

Island

Corporation

33,011

4,000

Fiserv,

Inc.

a

451,840

203

Five

Star

Bancorp

4,072

1,099

FleetCor

Technologies,

Inc.

a

280,619

3,886

Flushing

Financial

Corporation

51,023

6,851

Fulton

Financial

Corporation

82,966

7,469

Genworth

Financial,

Inc.

a

43,768

11,839

Glacier

Bancorp,

Inc.

337,412

1,256

Global

Life,

Inc.

136,565

3,572

Global

Payments,

Inc.

412,173

2,599

Great

Southern

Bancorp,

Inc.

124,544

2,043

Green

Dot

Corporation

a

28,459

13,290

Hamilton

Lane,

Inc.

1,201,948

789

Hancock

Whitney

Corporation

29,185

11,849

Hanmi

Financial

Corporation

192,309

1,566

Hanover

Insurance

Group,

Inc.

173,795

4,033

Hartford

Financial

Services

Group,

Inc.

285,980

27,994

Heartland

Financial

USA,

Inc.

823,863

10,453

Heritage

Commerce

Corporation

88,537

7,580

Heritage

Financial

Corporation

123,630

2,334

Home

BancShares,

Inc.

48,874

4,565

HomeStreet,

Inc.

b

35,561

3,744

Hometrust

Bancshares,

Inc.

81,132

24,701

Hope

Bancorp,

Inc.

218,604

4,488

Horizon

Bancorp,

Inc.

47,932

28,580

Houlihan

Lokey,

Inc.

3,061,490

12,003

Huntington

Bancshares,

Inc.

124,831

1,456

Independent

Bank

Corporation

71,475

3,749

Independent

Bank

Corporation/MI

68,757

48,371

Intercontinental

Exchange,

Inc.

5,321,777

315

International

Bancshares

Corporation

13,652

6,668

Invesco

Mortgage

Capital,

Inc.

66,747

14,173

Invesco,

Ltd.

205,792

50,369

J.P.

Morgan

Chase

&

Company

7,304,512

612

Jack

Henry

&

Associates,

Inc.

92,498

16,713

Janus

Henderson

Group

plc

431,530

2,293

Kearny

Financial

Corporation/MD

15,890

5,758

KeyCorp

61,956

17,761

Kinsale

Capital

Group,

Inc.

7,355,363

2,513

Lazard,

Ltd.

77,928

1,750

Loews

Corporation

110,793

12,223

M&T

Bank

Corporation

1,545,598

984

Marsh

&

McLennan

Companies,

Inc.

187,255

22,127

Mastercard,

Inc.

8,760,301

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

4

Shares

Common

Stock

(45.3%)

Value

Financials

(6.5%)

-

continued

658

Mercantile

Bank

Corporation

$

20,339

24,362

MetLife,

Inc.

1,532,613

3,869

Metropolitan

Bank

Holding

Corporation

a

140,367

9,913

MFA

Financial,

Inc.

95,264

45,858

MGIC

Investment

Corporation

765,370

538

Mid

Penn

Bancorp,

Inc.

10,830

4,274

Midland

States

Bancorp,

Inc.

87,788

6,538

MidWestOne

Financial

Group,

Inc.

132,918

13,754

Morgan

Stanley

1,123,289

6,806

Mr.

Cooper

Group,

Inc.

a

364,529

4,355

MSCI,

Inc.

2,234,463

432

MVB

Financial

Corporation

9,755

24,443

Nasdaq,

Inc.

1,187,685

5,806

Navient

Corporation

99,979

12,763

New

York

Community

Bancorp,

Inc.

144,732

15,780

NMI

Holdings,

Inc.

a

427,480

170

Northrim

BanCorp,

Inc.

6,735

15,618

NU

Holdings,

Ltd./Cayman

Islands

a

113,231

4,224

OceanFirst

Financial

Corporation

61,121

1,900

OFG

Bancorp

56,734

3,429

Old

National

Bancorp

49,858

3,013

Old

Republic

International

Corporation

81,170

1,563

Old

Second

Bancorp,

Inc.

21,272

8,234

OneMain

Holdings,

Inc.

330,101

454

Pacific

Premier

Bancorp,

Inc.

9,879

97,688

PayPal

Holdings,

Inc.

a

5,710,840

892

PCB

Bancorp

13,781

714

PennyMac

Financial

Services,

Inc.

47,552

1,078

Pinnacle

Financial

Partners,

Inc.

72,269

302

PNC

Financial

Services

Group,

Inc.

37,077

2,539

Popular,

Inc.

159,982

3,206

Premier

Financial

Corporation

54,694

270

PROG

Holdings,

Inc.

a

8,967

1,307

Prosperity

Bancshares,

Inc.

71,336

2,399

Provident

Financial

Services,

Inc.

36,681

2,253

Prudential

Financial,

Inc.

213,787

26,675

Radian

Group,

Inc.

669,809

37,845

Raymond

James

Financial,

Inc.

3,800,773

3,669

Regions

Financial

Corporation

63,107

51

Reinsurance

Group

of

America,

Inc.

7,405

50,715

Rithm

Capital

Corporation

471,142

19,620

RLI

Corporation

2,666,162

766

S&T

Bancorp,

Inc.

20,743

2,675

Sandy

Spring

Bancorp,

Inc.

57,325

14,668

SEI

Investments

Company

883,454

1,895

Shore

Bancshares,

Inc.

19,935

553

Simmons

First

National

Corporation

9,379

414

SmartFinancial,

Inc.

8,847

235

Southern

First

Bancshares,

Inc.

a

6,331

1,077

SouthState

Corporation

72,547

3,876

Synchrony

Financial

118,489

4,787

Synovus

Financial

Corporation

133,079

1,744

T.

Rowe

Price

Group,

Inc.

182,893

1,384

Territorial

Bancorp,

Inc.

12,581

5,754

TPG,

Inc.

173,310

13,998

Tradeweb

Markets,

Inc.

1,122,640

37,767

Triumph

Financial,

Inc.

a

2,446,924

2,774

TrustCo

Bank

Corporation

NY

75,702

3,155

Trustmark

Corporation

68,558

Shares

Common

Stock

(45.3%)

Value

Financials

(6.5%)

-

continued

7,339

Two

Harbors

Investment

Corporation

$

97,168

1,311

U.S.

Bancorp

43,342

748

UMB

Financial

Corporation

46,413

1,577

United

Bankshares,

Inc.

43,509

1,074

United

Community

Banks,

Inc.

27,290

3,158

Univest

Financial

Corporation

54,886

11,171

Unum

Group

549,501

7,380

Valley

National

Bancorp

63,173

5,101

Veritex

Holdings,

Inc.

91,563

11,074

Virtu

Financial,

Inc.

191,248

1,132

Visa,

Inc.

260,371

14,424

Voya

Financial,

Inc.

958,475

2,173

W.R.

Berkley

Corporation

137,964

548

Walker

&

Dunlop,

Inc.

40,684

3,052

Washington

Federal,

Inc.

78,192

104

Webster

Financial

Corporation

4,192

93,391

Wells

Fargo

&

Company

3,815,956

1,600

Westamerica

Bancorporation

69,200

67,773

Western

Alliance

Bancorp

3,115,525

45,226

Western

Union

Company

596,079

845

WEX,

Inc.

a

158,936

132

Willis

Towers

Watson

plc

27,583

829

Wintrust

Financial

Corporation

62,590

251

WSFS

Financial

Corporation

9,162

25,149

Zions

Bancorp

NA

877,449

Total

121,121,306

Health

Care

(6.1%)

17,235

Abbott

Laboratories

1,669,210

824

ACADIA

Pharmaceuticals,

Inc.

a

17,172

8,898

Agilent

Technologies,

Inc.

994,974

1,741

Agiliti,

Inc.

a

11,299

2,182

Agios

Pharmaceuticals,

Inc.

a

54,005

4,787

Aldeyra

Therapeutics,

Inc.

a

31,977

3,766

Align

Technology,

Inc.

a

1,149,835

15,444

Alkermes

plc

a

432,586

150

Alnylam

Pharmaceuticals,

Inc.

a

26,565

11,354

Amgen,

Inc.

3,051,501

3,315

Amicus

Therapeutics,

Inc.

a

40,310

1,413

Amphastar

Pharmaceuticals,

Inc.

a

64,984

1,444

Anika

Therapeutics,

Inc.

a

26,902

6,569

Apellis

Pharmaceuticals,

Inc.

a

249,885

5,160

Argenx

SE

ADR

a

2,536,811

8,595

Ascendis

Pharma

AS

ADR

a

804,836

13,418

AstraZeneca

plc

ADR

908,667

1,544

Avanos

Medical,

Inc.

a

31,220

106,381

Avantor,

Inc.

a

2,242,512

7,672

Azenta,

Inc.

a

385,058

25,219

Baxter

International,

Inc.

951,765

6,751

Biogen,

Inc.

a

1,735,075

205

BioMarin

Pharmaceutical,

Inc.

a

18,138

262

Bio-Rad

Laboratories,

Inc.

a

93,914

29,588

Bio-Techne

Corporation

2,014,055

416

Blueprint

Medicines

Corporation

a

20,892

1,268

Bruker

Corporation

78,996

1,270

Cardinal

Health,

Inc.

110,261

554

Cencora,

Inc.

99,703

14,593

Centene

Corporation

a

1,005,166

1,750

Charles

River

Laboratories

International,

Inc.

a

342,965

7,799

Cigna

Group

2,231,060

2,569

Codexis,

Inc.

a

4,855

3,829

Community

Health

Systems,

Inc.

a

11,104

3,911

Cooper

Companies,

Inc.

1,243,737

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

5

Shares

Common

Stock

(45.3%)

Value

Health

Care

(6.1%)

-

continued

20,369

CVS

Health

Corporation

$

1,422,164

20,174

Danaher

Corporation

5,005,169

4,212

Deciphera

Pharmaceuticals,

Inc.

a

53,577

21,636

Dentsply

Sirona,

Inc.

739,086

13,821

Dexcom,

Inc.

a

1,289,499

8,749

Dynavax

Technologies

Corporation

a

129,223

25,818

Edwards

Lifesciences

Corporation

a

1,788,671

66,679

Elanco

Animal

Health,

Inc.

a

749,472

5,291

Elevance

Health,

Inc.

2,303,807

809

Eli

Lilly

&

Company

434,538

830

Enanta

Pharmaceuticals,

Inc.

a

9,271

45,324

Enovis

Corporation

a

2,389,935

4,501

Exelixis,

Inc.

a

98,347

28,678

Gilead

Sciences,

Inc.

2,149,129

3,516

Globus

Medical,

Inc.

a

174,569

4,454

GoodRx

Holdings,

Inc.

a

25,076

47,740

Halozyme

Therapeutics,

Inc.

a

1,823,668

5,732

HCA

Healthcare,

Inc.

1,409,957

5,805

Hologic,

Inc.

a

402,867

3,861

ICON

plc

a

950,771

120

IDEXX

Laboratories,

Inc.

a

52,472

16,100

Immunocore

Holdings

plc

ADR

a

835,590

28,730

Inmode,

Ltd.

a

875,116

3,862

Inspire

Medical

Systems,

Inc.

a

766,375

11,215

Intuitive

Surgical,

Inc.

a

3,278,032

894

IQVIA

Holding,

Inc.

a

175,895

1,832

Jazz

Pharmaceuticals,

Inc.

a

237,134

15,034

Johnson

&

Johnson

2,341,546

257

Kiniksa

Pharmaceuticals,

Ltd.

a

4,464

1,914

Kura

Oncology,

Inc.

a

17,456

18,923

Laboratory

Corporation

of

America

Holdings

3,804,469

25,389

Lantheus

Holdings,

Inc.

a

1,764,028

62

Ligand

Pharmaceuticals,

Inc.

a

3,715

890

LivaNova

plc

a

47,063

244,672

Maravai

LifeSciences

Holdings,

Inc.

a

2,446,720

288

Masimo

Corporation

a

25,252

29

Medpace

Holdings,

Inc.

a

7,022

53,368

Medtronic

plc

4,181,917

41,719

Merck

&

Company,

Inc.

4,294,971

8,617

Molina

Healthcare,

Inc.

a

2,825,428

2,012

Myriad

Genetics,

Inc.

a

32,273

10,387

Natera,

Inc.

a

459,625

1,844

National

HealthCare

Corporation

117,979

31,394

Novo

Nordisk

AS

ADR

a

2,854,970

1,929

OraSure

Technologies,

Inc.

a

11,439

2,404

Pacira

Pharmaceuticals,

Inc.

a

73,755

2,575

Pediatrix

Medical

Group,

Inc.

a

32,728

55,965

Pfizer,

Inc.

1,856,359

34,583

Phreesia,

Inc.

a

646,010

52,131

Point

Biopharma

Global,

Inc.

a

347,714

85,053

Progyny,

Inc.

a

2,893,503

2,743

Qiagen

NV

a

111,092

5,744

QuidelOrtho

Corporation

a

419,542

78,221

R1

RCM,

Inc.

a

1,178,791

13,011

Repligen

Corporation

a

2,068,879

3,424

Revance

Therapeutics,

Inc.

a

39,273

3,990

Rocket

Pharmaceuticals,

Inc.

a

81,755

1,922

Royalty

Pharma

plc

52,163

10,133

Sarepta

Therapeutics,

Inc.

a

1,228,322

69,650

scPharmaceuticals,

Inc.

a

495,908

1,811

Sensus

Healthcare,

Inc.

a

5,016

5,981

ShockWave

Medical,

Inc.

a

1,190,817

Shares

Common

Stock

(45.3%)

Value

Health

Care

(6.1%)

-

continued

744

Teleflex,

Inc.

$

146,129

3,265

TG

Therapeutics,

Inc.

a

27,295

3,275

Thermo

Fisher

Scientific,

Inc.

1,657,707

14,879

UnitedHealth

Group,

Inc.

7,501,843

1,521

Vanda

Pharmaceuticals,

Inc.

a

6,571

8,966

Veeva

Systems,

Inc.

a

1,824,133

5,631

Veracyte,

Inc.

a

125,740

33,914

Vericel

Corporation

a

1,136,797

1,118

Vertex

Pharmaceuticals,

Inc.

a

388,773

49,083

Viemed

Healthcare,

Inc.

a

330,329

10,002

Vor

BioPharma,

Inc.

a,b

21,204

3,024

Waters

Corporation

a

829,211

1,128

West

Pharmaceutical

Services,

Inc.

423,237

1,471

Zentalis

Pharmaceuticals,

Inc.

a

29,508

13,443

Zimmer

Biomet

Holdings,

Inc.

1,508,573

34,220

Zoetis,

Inc.

5,953,596

Total

114,134,015

Industrials

(6.0%)

2,774

A.O.

Smith

Corporation

183,445

1,062

Acuity

Brands,

Inc.

180,869

22,044

Advanced

Drainage

Systems,

Inc.

2,509,269

4,016

AGCO

Corporation

475,013

33,307

Air

Lease

Corporation

1,312,629

9,710

Alaska

Air

Group,

Inc.

a

360,047

490

American

Woodmark

Corporation

a

37,049

10,835

AMETEK,

Inc.

1,600,980

398

Apogee

Enterprises,

Inc.

18,738

4,254

Armstrong

World

Industries,

Inc.

306,288

40,496

ASGN,

Inc.

a

3,307,713

5,640

Automatic

Data

Processing,

Inc.

1,356,871

2,658

Axon

Enterprise,

Inc.

a

528,915

1,638

AZZ,

Inc.

74,660

81,157

Badger

Infrastructure

Solutions,

Ltd.

2,072,767

20,012

Barnes

Group,

Inc.

679,808

9,569

Beacon

Roofing

Supply,

Inc.

a

738,440

1,214

Boise

Cascade

Company

125,091

2,988

Builders

FirstSource,

Inc.

a

371,976

8,377

Carlisle

Companies,

Inc.

2,171,821

529

Caterpillar,

Inc.

144,417

12,256

Chart

Industries,

Inc.

a

2,072,735

10,974

Cimpress

plc

a

768,290

795

Cintas

Corporation

382,403

107,043

CNH

Industrial

NV

1,295,220

141

Columbus

McKinnon

Corporation

4,922

9,684

Conduent

Incorporated

a

33,700

1,074

CSW

Industrials,

Inc.

188,208

78,740

CSX

Corporation

2,421,255

5,976

Cummins,

Inc.

1,365,277

6,513

Curtiss-Wright

Corporation

1,274,138

1,058

Daseke,

Inc.

a

5,428

1,988

Deere

&

Company

750,231

42,258

Delta

Air

Lines,

Inc.

1,563,546

2,061

Donaldson

Company,

Inc.

122,918

32

Dover

Corporation

4,464

2,933

EMCOR

Group,

Inc.

617,074

239

Equifax,

Inc.

43,780

99,401

ExlService

Holdings,

Inc.

a

2,787,204

1,880

Expeditors

International

of

Washington,

Inc.

215,504

74,920

Fastenal

Company

4,093,629

8,622

Ferguson

plc

1,418,060

51,846

First

Advantage

Corporation

714,956

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

6

Shares

Common

Stock

(45.3%)

Value

Industrials

(6.0%)

-

continued

29,697

Flowserve

Corporation

$

1,181,050

20,179

Fluor

Corporation

a

740,569

550

Forrester

Research,

Inc.

a

15,895

3,504

Fortune

Brands

Innovations,

Inc.

217,809

1,870

Gates

Industrial

Corporation

plc

a

21,711

9,261

General

Dynamics

Corporation

2,046,403

2,122

Gibraltar

Industries,

Inc.

a

143,256

61

GMS,

Inc.

a

3,902

338

Gorman-Rupp

Company

11,120

15,265

Greenbrier

Companies,

Inc.

610,600

672

Griffon

Corporation

26,658

154

Heidrick

&

Struggles

International,

Inc.

3,853

31,976

Helios

Technologies,

Inc.

1,774,029

1,233

Herc

Holdings,

Inc.

146,653

3,926

Hillman

Solutions

Corporation

a

32,390

6,671

Honeywell

International,

Inc.

1,232,401

102,701

Howmet

Aerospace,

Inc.

4,749,921

1,300

Hubbell,

Inc.

407,433

1,681

IDEX

Corporation

349,682

732

Ingersoll

Rand,

Inc.

46,643

1,828

Interface,

Inc.

17,933

170,115

Janus

International

Group,

Inc.

a

1,820,231

5,118

JB

Hunt

Transport

Services,

Inc.

964,845

9,636

JetBlue

Airways

Corporation

a

44,326

16,541

Johnson

Controls

International

plc

880,147

3,167

Kennametal,

Inc.

78,795

9,466

L3Harris

Technologies,

Inc.

1,648,220

10,058

Lincoln

Electric

Holdings,

Inc.

1,828,444

11,726

ManpowerGroup,

Inc.

859,750

9,978

Masco

Corporation

533,324

50,943

Masterbrand,

Inc.

a

618,957

1,233

Matson,

Inc.

109,392

11,192

Maximus,

Inc.

835,819

17,775

Middleby

Corporation

a

2,275,200

15,583

Miller

Industries,

Inc.

611,009

4,404

Moog,

Inc.

497,476

1,803

MSC

Industrial

Direct

Company,

Inc.

176,964

440

MYR

Group,

Inc.

a

59,294

138

National

Presto

Industries,

Inc.

9,999

6,635

Northrop

Grumman

Corporation

2,920,661

4,224

nVent

Electric

plc

223,830

7,005

Old

Dominion

Freight

Line,

Inc.

2,866,026

14,904

Oshkosh

Corporation

1,422,289

1,805

Otis

Worldwide

Corporation

144,960

12,102

Owens

Corning,

Inc.

1,650,834

8,113

PACCAR,

Inc.

689,767

10,226

Parker-Hannifin

Corporation

3,983,232

673

Paycom

Software,

Inc.

174,489

749

Paylocity

Holding

Corporation

a

136,093

21,924

Pentair

plc

1,419,579

4,264

Quanta

Services,

Inc.

797,666

41,043

RB

Global,

Inc.

2,565,188

10,363

Regal

Rexnord

Corporation

1,480,665

2,409

Republic

Services,

Inc.

343,307

1,883

Resideo

Technologies,

Inc.

a

29,751

5,085

Saia,

Inc.

a

2,027,135

30,268

Schneider

National,

Inc.

838,121

10,553

Simpson

Manufacturing

Company,

Inc.

1,580,945

4,113

SiteOne

Landscape

Supply,

Inc.

a

672,270

4,326

SkyWest,

Inc.

a

181,432

184

Snap-On,

Inc.

46,931

11,406

Southwest

Airlines

Company

308,760

Shares

Common

Stock

(45.3%)

Value

Industrials

(6.0%)

-

continued

2,922

Standex

International

Corporation

$

425,706

529

Sterling

Construction

Company,

Inc.

a

38,871

9,591

Tennant

Company

711,173

2,791

Terex

Corporation

160,817

4,450

Textron,

Inc.

347,723

24,013

Timken

Company

1,764,715

1,562

Titan

International,

Inc.

a

20,978

1,455

Titan

Machinery,

Inc.

a

38,674

2,628

Trane

Technologies

plc

533,247

20,046

TransUnion

1,439,102

2,455

Trex

Company,

Inc.

a

151,302

88,329

Uber

Technologies,

Inc.

a

4,062,251

32

UniFirst

Corporation/MA

5,216

14,519

United

Parcel

Service,

Inc.

2,263,077

6,778

United

Rentals,

Inc.

3,013,295

373

Valmont

Industries,

Inc.

89,598

2,041

Vertiv

Holdings

Company

75,925

3,102

Wabash

National

Corporation

65,514

45,846

WillScot

Mobile

Mini

Holdings

Corporation

a

1,906,735

Total

111,949,701

Information

Technology

(10.3%)

7,856

8x8,

Inc.

a

19,797

11,135

Adobe,

Inc.

a

5,677,736

41,884

Advanced

Micro

Devices,

Inc.

a

4,306,513

1,399

Alarm.com

Holdings,

Inc.

a

85,535

1,005

Alpha

and

Omega

Semiconductor,

Ltd.

a

29,989

489

American

Software,

Inc.

5,604

3,096

Amkor

Technology,

Inc.

69,970

28,964

Amphenol

Corporation

2,432,686

2,269

ANSYS,

Inc.

a

675,141

97,370

Apple,

Inc.

16,670,718

22,720

Applied

Materials,

Inc.

3,145,584

7,439

Arista

Networks,

Inc.

a

1,368,255

3,816

Autodesk,

Inc.

a

789,569

215

Broadcom,

Inc.

178,575

67,286

Calix,

Inc.

a

3,084,390

546

CDW

Corporation

110,161

24,867

Ciena

Corporation

a

1,175,214

191,452

Cisco

Systems,

Inc.

10,292,459

29,593

Cognex

Corporation

1,255,927

163

Cognizant

Technology

Solutions

Corporation

11,042

18,372

Cohu,

Inc.

a

632,732

9,683

CommScope

Holding

Company,

Inc.

a

32,535

65

CommVault

Systems,

Inc.

a

4,395

1,155

Corning,

Inc.

35,193

9,355

Crane

NXT

Company

519,857

2,214

Datadog,

Inc.

a

201,673

17,854

Descartes

Systems

Group,

Inc.

a

1,310,126

2,726

DocuSign,

Inc.

a

114,492

4,643

Dolby

Laboratories,

Inc.

368,004

73,507

Dropbox,

Inc.

a

2,001,596

26,986

Dynatrace

Holdings,

LLC

a

1,261,056

757

Elastic

NV

a

61,499

4,044

Enphase

Energy,

Inc.

a

485,887

11,508

Entegris,

Inc.

1,080,716

4,537

EPAM

Systems,

Inc.

a

1,160,066

314

F5,

Inc.

a

50,598

38

Fair

Isaac

Corporation

a

33,004

8,833

Five9,

Inc.

a

567,962

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

7

Shares

Common

Stock

(45.3%)

Value

Information

Technology

(10.3%)

-

continued

24,974

Flex,

Ltd.

a

$

673,799

4,142

FormFactor,

Inc.

a

144,721

29,762

Fortinet,

Inc.

a

1,746,434

19

Gartner,

Inc.

a

6,529

40,833

Gilat

Satellite

Networks,

Ltd.

a

262,556

994

GoDaddy,

Inc.

a

74,033

80,001

Grid

Dynamics

Holdings,

Inc.

a

974,412

40,478

Guidewire

Software,

Inc.

a

3,643,020

46,413

Hackett

Group,

Inc.

1,094,883

16,431

Hewlett

Packard

Enterprise

Company

285,406

155

HP,

Inc.

3,983

2,701

HubSpot,

Inc.

a

1,330,242

2,149

Insight

Enterprises,

Inc.

a

312,679

1,829

IPG

Photonics

Corporation

a

185,717

1,278

JFrog,

Ltd.

a

32,410

12,757

Juniper

Networks,

Inc.

354,517

3,183

Keysight

Technologies,

Inc.

a

421,143

1,504

KLA

Corporation

689,825

43,526

Knowles

Corporation

a

644,620

5,909

Kyndryl

Holdings,

Inc.

a

89,226

2,064

Lam

Research

Corporation

1,293,653

32,380

Lattice

Semiconductor

Corporation

a

2,782,413

5,336

Littelfuse,

Inc.

1,319,699

4,108

LiveRamp

Holding,

Inc.

a

118,475

5,571

Marvell

Technology,

Inc.

301,558

1,771

MaxLinear,

Inc.

a

39,405

5,577

Microchip

Technology,

Inc.

435,285

104,936

Microsoft

Corporation

33,133,542

1,872

MKS

Instruments,

Inc.

162,003

3,872

Monolithic

Power

Systems,

Inc.

1,788,864

266

Motorola

Solutions,

Inc.

72,416

2,373

NCR

Corporation

a

64,000

2,224

NetApp,

Inc.

168,757

3,812

NICE,

Ltd.

ADR

a

648,040

13,263

Nova,

Ltd.

a

1,491,292

37,788

NVIDIA

Corporation

16,437,402

9,725

ON

Semiconductor

Corporation

a

903,939

156

OSI

Systems,

Inc.

a

18,414

32,523

PagerDuty,

Inc.

a

731,442

10,468

Palo

Alto

Networks,

Inc.

a

2,454,118

13,696

PDF

Solutions,

Inc.

a

443,750

9,603

Plexus

Corporation

a

892,887

11,939

PTC,

Inc.

a

1,691,517

4,976

Q2

Holdings,

Inc.

a

160,575

1,531

Qorvo,

Inc.

a

146,165

68,313

QUALCOMM,

Inc.

7,586,842

5,126

Rackspace

Technology,

Inc.

a,b

12,046

1,529

Rapid7,

Inc.

a

69,998

2,074

RingCentral,

Inc.

a

61,453

824

Roper

Industries,

Inc.

399,047

28,646

Salesforce,

Inc.

a

5,808,836

55,471

Samsung

Electronics

Company,

Ltd.

2,804,288

529

Sanmina

Corporation

a

28,714

10,668

ServiceNow,

Inc.

a

5,962,985

8,947

Silicon

Laboratories,

Inc.

a

1,036,868

3,536

Skyworks

Solutions,

Inc.

348,614

3,427

SolarWinds

Corporation

a

32,351

1,585

Sprinklr,

Inc.

a

21,936

75,762

Sprout

Social,

Inc.

a

3,779,009

3,904

SPS

Commerce,

Inc.

a

666,061

5,132

Synopsys,

Inc.

a

2,355,434

10,711

TE

Connectivity,

Ltd.

1,323,130

Shares

Common

Stock

(45.3%)

Value

Information

Technology

(10.3%)

-

continued

388

Teledyne

Technologies,

Inc.

a

$

158,529

3,071

Teradata

Corporation

a

138,256

95

Teradyne,

Inc.

9,544

16,590

Texas

Instruments,

Inc.

2,637,976

11,266

Trimble,

Inc.

a

606,787

185,257

TTM

Technologies,

Inc.

a

2,386,110

11,356

Tyler

Technologies,

Inc.

a

4,385,006

10,039

Unisys

Corporation

a

34,635

5,548

Universal

Display

Corporation

870,981

4,023

Upland

Software,

Inc.

a

18,586

54,074

Varonis

Systems,

Inc.

a

1,651,420

1,949

Verint

Systems,

Inc.

a

44,807

6,275

VeriSign,

Inc.

a

1,270,876

6,761

Viavi

Solutions,

Inc.

a

61,796

7,261

Vishay

Intertechnology,

Inc.

179,492

7,839

Vontier

Corporation

242,382

26,899

Wolfspeed,

Inc.

a

1,024,852

23,789

Workiva,

Inc.

a

2,410,777

1,377

Xerox

Holdings

Corporation

21,605

5,803

Yext,

Inc.

a

36,733

2,371

Zoom

Video

Communications,

Inc.

a

165,828

Total

192,630,612

Materials

(1.4%)

803

Albemarle

Corporation

136,542

14,931

Alcoa

Corporation

433,895

418

AptarGroup,

Inc.

52,267

53,573

Axalta

Coating

Systems,

Ltd.

a

1,441,114

18,601

Ball

Corporation

925,958

4,670

Berry

Plastics

Group,

Inc.

289,120

9,175

Carpenter

Technology

Corporation

616,652

4,469

Celanese

Corporation

560,949

23,922

CF

Industries

Holdings,

Inc.

2,051,072

13,571

Cleveland-Cliffs,

Inc.

a

212,115

4,983

Commercial

Metals

Company

246,210

3,126

Eagle

Materials,

Inc.

520,542

16,053

Eastman

Chemical

Company

1,231,586

114

Hawkins,

Inc.

6,709

5,778

Huntsman

Corporation

140,983

16,407

Ingevity

Corporation

a

781,137

2,718

Innospec,

Inc.

277,780

53,107

Ivanhoe

Mines,

Ltd.

a

455,119

671

Kaiser

Aluminum

Corporation

50,499

2,243

Linde

plc

835,181

2,998

LSB

Industries,

Inc.

a

30,670

391

LyondellBasell

Industries

NV

37,028

2,915

Martin

Marietta

Materials,

Inc.

1,196,549

811

Myers

Industries,

Inc.

14,541

6,042

Newmont

Corporation

223,252

28,099

Nucor

Corporation

4,393,279

3,865

O-I

Glass,

Inc.

a

64,661

2,141

Orion

SA

45,560

10,301

PPG

Industries,

Inc.

1,337,070

174,392

Ranpak

Holdings

Corporation

a

948,693

478

Reliance

Steel

&

Aluminum

Company

125,346

17,172

RPM

International,

Inc.

1,628,077

1,483

Ryerson

Holding

Corporation

43,140

2,048

Schnitzer

Steel

Industries,

Inc.

57,037

12,529

Steel

Dynamics,

Inc.

1,343,359

26,467

Summit

Materials,

Inc.

a

824,182

5,096

SunCoke

Energy,

Inc.

51,724

1,888

TimkenSteel

Corporation

a

41,007

700

TriMas

Corporation

17,332

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

8

Shares

Common

Stock

(45.3%)

Value

Materials

(1.4%)

-

continued

1,008

Trinseo

plc

$

8,235

110,314

Tronox

Holdings

plc

1,482,620

4,906

United

States

Lime

&

Minerals,

Inc.

986,106

16,943

United

States

Steel

Corporation

550,309

2,086

Vulcan

Materials

Company

421,414

Total

27,136,621

Real

Estate

(1.5%)

42,583

Agree

Realty

Corporation

2,352,285

6,745

Alexandria

Real

Estate

Equities,

Inc.

675,174

8,184

Apartment

Income

REIT

Corporation

251,249

10,157

AvalonBay

Communities,

Inc.

1,744,363

6,738

Camden

Property

Trust

637,280

1,775

CareTrust

REIT,

Inc.

36,387

20,836

CBRE

Group,

Inc.

a

1,538,947

1,560

Centerspace

94,006

3,342

Chatham

Lodging

Trust

31,983

11,352

Compass,

Inc.

a

32,921

19,456

CubeSmart

741,857

91,448

Cushman

and

Wakefield

plc

a

696,834

618

EastGroup

Properties,

Inc.

102,916

10,234

Elme

Communities

139,592

8,019

EPR

Properties

333,109

27,058

Equity

Commonwealth

497,055

11,235

Equity

Residential

659,607

4,683

Essential

Properties

Realty

Trust,

Inc.

101,293

938

Essex

Property

Trust,

Inc.

198,940

4,454

Extra

Space

Storage,

Inc.

541,517

6,447

First

Industrial

Realty

Trust,

Inc.

306,813

7,056

FirstService

Corporation

1,026,930

10,755

Four

Corners

Property

Trust,

Inc.

238,653

2,363

Getty

Realty

Corporation

65,526

83,725

Healthcare

Realty

Trust,

Inc.

1,278,481

88,686

Host

Hotels

&

Resorts,

Inc.

1,425,184

1,396

Howard

Hughes

Holdings,

Inc.

a

103,485

58,326

Independence

Realty

Trust,

Inc.

820,647

2,247

Kennedy-Wilson

Holdings,

Inc.

33,121

843

LTC

Properties,

Inc.

27,086

26,830

LXP

Industrial

Trust

238,787

6,659

Mid-America

Apartment

Communities,

Inc.

856,680

30,011

National

Storage

Affiliates

Trust

952,549

9,115

NetSTREIT

Corporation

142,012

6,966

NNN

REIT,

Inc.

246,178

8,487

Pebblebrook

Hotel

Trust

115,338

4,180

Public

Storage

1,101,514

3,875

Realty

Income

Corporation

193,518

11,515

Regency

Centers

Corporation

684,452

15,149

Rexford

Industrial

Realty,

Inc.

747,603

788

RMR

Group,

Inc.

19,322

11,216

Sabra

Health

Care

REIT,

Inc.

156,351

22,234

SBA

Communications

Corporation

4,450,580

20,682

Service

Properties

Trust

159,045

1,617

Terreno

Realty

Corporation

91,846

31,536

UDR,

Inc.

1,124,889

2,373

Welltower,

Inc.

194,396

Total

28,208,301

Utilities

(0.9%)

2,296

AES

Corporation

34,899

15,644

Alliant

Energy

Corporation

757,952

Shares

Common

Stock

(45.3%)

Value

Utilities

(0.9%)

-

continued

19,489

American

Electric

Power

Company,

Inc.

$

1,465,963

1,578

Artesian

Resources

Corporation

66,260

894

Avista

Corporation

28,939

13,771

Black

Hills

Corporation

696,675

20,144

CenterPoint

Energy,

Inc.

540,866

274

Clearway

Energy,

Inc.

5,458

22,421

Constellation

Energy

Corporation

2,445,683

19,448

Duke

Energy

Corporation

1,716,480

2,861

Edison

International

181,073

16,819

Entergy

Corporation

1,555,757

17,598

Evergy,

Inc.

892,219

461

NextEra

Energy

Partners,

LP

b

13,692

108,184

NiSource,

Inc.

2,669,981

15,552

NorthWestern

Corporation

747,429

27,485

OGE

Energy

Corporation

916,075

4,606

Pinnacle

West

Capital

Corporation

339,370

18,449

Portland

General

Electric

Company

746,815

21,421

Public

Service

Enterprise

Group,

Inc.

1,219,069

7,027

Spire,

Inc.

397,588

23,507

UGI

Corporation

540,661

Total

17,978,904

Total

Common

Stock

(cost

$689,128,893)

849,039,284

Shares

Registered

Investment

Companies

(

38.1%

)

Value

U.S.

Affiliated  (37.5%)

4,913,436

Thrivent

Core

Emerging

Markets

Equity

Fund

40,879,785

5,012,855

Thrivent

Core

International

Equity

Fund

47,271,221

3,042,204

Thrivent

Core

Low

Volatility

Equity

Fund

34,072,682

5,841,591

Thrivent

Core

Mid

Cap

Value

Fund

56,721,847

2,396,366

Thrivent

Core

Small

Cap

Value

Fund

21,567,292

5,783,104

Thrivent

Global

Stock

Portfolio

71,357,137

504,898

Thrivent

High

Yield

Portfolio

2,012,017

120,903

Thrivent

Income

Portfolio

1,001,172

15,478,233

Thrivent

International

Allocation

Portfolio

132,382,232

895,006

Thrivent

International

Index

Portfolio

10,740,336

4,816,135

Thrivent

Large

Cap

Value

Portfolio

95,973,533

222,818

Thrivent

Limited

Maturity

Bond

Portfolio

2,094,106

6,385,277

Thrivent

Mid

Cap

Stock

Portfolio

115,108,025

4,365,662

Thrivent

Small

Cap

Stock

Portfolio

69,643,229

Total

700,824,614

U.S.

Unaffiliated  (0.6%)

12,875

Communication

Services

Select

Sector

SPDR

Fund

844,214

2,144

Invesco

QQQ

Trust

Series

1

b

768,131

4,459

iShares

Biotechnology

ETF

545,291

17,250

SPDR

S&P

500

ETF

Trust

7,374,030

28,180

SPDR

S&P

Biotech

ETF

2,057,704

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

9

Shares

Registered

Investment

Companies

(38.1%)

Value

U.S.

Unaffiliated  (0.6%)-

continued

1,977

SPDR

S&P

Oil

&

Gas

Exploration

ETF

$

292,418

Total

11,881,788

Total

Registered

Investment

Companies

(cost

$695,536,315)

712,706,402

Principal

Amount

Long-Term

Fixed

Income

(

4.9%

)

Value

Commercial

Mortgage-Backed

Securities

(0.1%)

Federal

Home

Loan

Mortgage

Corporation

Multifamily

Structured

Pass

Through

Certificates

$

175,000

3.500%, 

7/25/2032,

Ser.

K148,

Class

A2

c,d

153,394

275,000

3.530%, 

8/25/2032,

Ser.

K149,

Class

A2

c

241,276

1,100,000

3.820%, 

12/25/2032,

Ser.

K-153,

Class

A2

c,d

983,907

275,000

4.350%, 

1/25/2033,

Ser.

K-154,

Class

A2

c,d

256,304

Federal

Home

Loan

Mortgage

Corporation

Multifamily

WI

Certificates

250,000

4.500%, 

11/25/2033,

Ser.

K159,

Class

A2

235,210

250,000

4.500%, 

12/25/2033,

Ser.

K160,

Class

A2

234,137

Total

2,104,228

Mortgage-Backed

Securities

(2.6%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

1,034,550

2.500%, 

5/1/2051

825,624

490,648

3.500%, 

5/1/2052

422,513

481,791

4.000%, 

5/1/2052

432,399

801,457

3.500%, 

6/1/2052

690,663

148,519

5.000%, 

7/1/2053

140,588

1,067,862

5.500%, 

7/1/2053

1,036,100

1,850,000

5.500%, 

9/1/2053

1,794,966

Federal

Home

Loan

Mortgage

Corporation

Gold

15-Yr.

Pass

Through

236,355

2.500%, 

7/1/2030

215,440

Federal

National

Mortgage

Association

Conventional

20-Yr.

Pass

Through

648,495

3.000%, 

8/1/2038

575,906

562,685

3.500%, 

5/1/2040

499,875

516,973

2.500%, 

4/1/2042

425,230

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

1,044,668

3.000%, 

1/1/2052

869,684

160,200

2.000%, 

2/1/2051

122,700

104,163

2.000%, 

2/1/2051

79,657

538,345

2.500%, 

2/1/2051

430,521

757,557

2.500%, 

2/1/2051

607,047

1,353,751

2.000%, 

3/1/2051

1,034,629

1,081,742

3.000%, 

3/1/2052

897,099

643,969

3.000%, 

4/1/2051

534,636

653,333

3.000%, 

5/1/2050

546,652

Principal

Amount

Long-Term

Fixed

Income

(4.9%)

Value

Mortgage-Backed

Securities

(2.6%)

-

continued

$

215,306

2.000%, 

5/1/2051

$

164,204

518,677

3.000%, 

5/1/2051

436,051

425,033

3.000%, 

6/1/2050

359,024

124,514

5.000%, 

6/1/2053

118,058

815,579

2.500%, 

7/1/2051

651,051

357,696

3.500%, 

7/1/2051

312,775

367,046

3.500%, 

8/1/2050

321,289

181,332

3.500%, 

9/1/2052

156,786

2,622,151

4.500%, 

9/1/2053

2,410,354

785,678

4.000%, 

10/1/2052

701,775

1,000,000

7.000%, 

10/1/2053

e

1,020,742

214,768

2.000%, 

11/1/2051

163,991

867,916

2.000%, 

12/1/2050

664,775

892,053

2.500%, 

12/1/2051

712,806

429,643

4.500%, 

12/1/2052

396,229

6,200,000

5.500%, 

10/1/2041

e

5,991,477

8,200,000

6.000%, 

10/1/2041

e

8,092,375

3,460,000

4.000%, 

10/1/2048

e

3,080,211

4,440,000

4.500%, 

10/1/2048

e

4,076,475

6,700,000

5.000%, 

10/1/2048

e

6,321,031

Federal

National

Mortgage

Association

Conventional

40-Yr.

Pass

Through

548,337

2.500%, 

3/1/2062

420,825

193,732

3.500%, 

7/1/2061

164,772

395,644

4.000%, 

12/1/2061

352,363

Total

49,271,368

U.S.

Government

&

Agencies

(2.2%)

U.S.

Treasury

Bonds

1,880,000

1.625%, 

11/15/2050

984,723

2,950,000

4.000%, 

11/15/2052

2,614,668

170,000

5.250%, 

11/15/2028

174,562

3,030,000

1.375%, 

11/15/2040

1,793,263

120,000

3.000%, 

5/15/2042

91,833

2,413,000

2.500%, 

5/15/2046

1,616,239

U.S.

Treasury

Notes

5,800,000

3.000%, 

6/30/2024

5,694,422

500,000

2.125%, 

7/31/2024

486,367

2,330,000

2.250%, 

11/15/2024

2,250,816

2,040,000

2.125%, 

11/30/2024

1,965,412

640,000

2.625%, 

1/31/2026

607,475

3,330,000

2.500%, 

2/28/2026

3,148,671

920,000

2.250%, 

11/15/2027

836,697

300,000

0.750%, 

1/31/2028

254,367

900,000

3.500%, 

1/31/2028

858,902

1,700,000

3.625%, 

3/31/2028

1,629,742

5,000,000

2.875%, 

5/15/2028

4,633,594

3,900,000

4.375%, 

8/31/2028

3,861,305

125,000

0.875%, 

11/15/2030

97,246

90,000

1.375%, 

11/15/2031

70,545

2,500,000

2.875%, 

5/15/2032

2,194,434

5,100,000

3.375%, 

5/15/2033

4,625,063

Total

40,490,346

Total

Long-Term

Fixed

Income

(cost

$98,947,750)

91,865,942

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

10

Shares

Collateral

Held

for

Securities

Loaned

(

<0.1%

)

Value

1,046,785

Thrivent

Cash

Management

Trust

$

1,046,785

Total

Collateral

Held

for

Securities

Loaned

(cost

$1,046,785)

1,046,785

Shares

or

Principal

Amount

Short-Term

Investments

(

12.4%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

1,700,000

5.270%,

10/25/2023

f,g

1,694,441

300,000

5.275%,

11/10/2023

f,g

298,337

2,500,000

5.285%,

11/15/2023

f,g

2,484,371

400,000

5.298%,

11/17/2023

f,g

397,386

3,100,000

5.300%,

12/6/2023

f,g

3,071,334

1,500,000

5.305%,

12/13/2023

f,g

1,484,643

8,700,000

5.315%,

12/15/2023

f,g

8,608,469

Thrivent

Core

Short-Term

Reserve

Fund

21,337,459

5.650%

213,374,590

Total

Short-Term

Investments

(cost

$231,320,695)

231,413,571

Total

Investments

(cost

$1,715,980,438)

100.7%

$1,886,071,984

Other

Assets

and

Liabilities,

Net

(0.7%)

(13,390,310)

Total

Net

Assets

100.0%

$1,872,681,674

a

Non-income

producing

security.

b

All

or

a

portion

of

the

security

is

on

loan.

c

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

d

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

September

29,

2023.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

e

Denotes

investments

purchased

on

a

when-issued

or

delayed-delivery

basis.

f

The

interest

rate

shown

reflects

the

yield.

g

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Aggressive

Allocation

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Common

Stock

$

1,024,503

Total

lending

$1,024,503

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$1,046,785

Net

amounts

due

to

counterparty

$22,282

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

ETF

-

Exchange

Traded

Fund

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

11

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Aggressive

Allocation

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

59,590,608

59,590,608

–

–

Consumer

Discretionary

96,098,280

96,098,280

–

–

Consumer

Staples

42,380,169

42,380,169

–

–

Energy

37,810,767

37,810,767

–

–

Financials

121,121,306

121,121,306

–

–

Health

Care

114,134,015

114,134,015

–

–

Industrials

111,949,701

109,876,934

2,072,767

–

Information

Technology

192,630,612

189,826,324

2,804,288

–

Materials

27,136,621

26,681,502

455,119

–

Real

Estate

28,208,301

28,208,301

–

–

Utilities

17,978,904

17,978,904

–

–

Registered

Investment

Companies

U.S.

Affiliated

500,311,787

500,311,787

–

–

U.S.

Unaffiliated

11,881,788

11,881,788

–

–

Long-Term

Fixed

Income

Commercial

Mortgage-Backed

Securities

2,104,228

–

2,104,228

–

Mortgage-Backed

Securities

49,271,368

–

49,271,368

–

U.S.

Government

&

Agencies

40,490,346

–

40,490,346

–

Short-Term

Investments

18,038,981

–

18,038,981

–

Subtotal

Investments

in

Securities

$1,471,137,782

$1,355,900,685

$115,237,097

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

213,374,590

U.S.

Affiliated

Registered

Investment

Cos.

200,512,827

Collateral

Held

for

Securities

Loaned

1,046,785

Subtotal

Other

Investments

$414,934,202

Total

Investments

at

Value

$1,886,071,984

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Aggressive

Allocation

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

8,304,555

8,304,555

–

–

Total

Asset

Derivatives

$8,304,555

$8,304,555

$–

$–

Liability

Derivatives

Futures

Contracts

15,423,475

15,423,475

–

–

Total

Liability

Derivatives

$15,423,475

$15,423,475

$–

$–

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

12

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

S&P

-

Standard

&

Poor's

The

following

table

presents

Aggressive

Allocation

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$18,038,981

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Amount

Value

and

Unrealized

CBOT

10-Yr.

U.S.

Treasury

Note

33

December

2023

$

3,641,951

(

$

75,888)

CBOT

2-Yr.

U.S.

Treasury

Note

5

December

2023

1,018,060

(

4,505)

CBOT

5-Yr.

U.S.

Treasury

Note

5

December

2023

532,543

(

5,747)

CBOT

U.S.

Long

Bond

4

December

2023

481,554

(

26,428)

CME

E-mini

S&P

500

Index

1,698

December

2023

381,840,955

(

14,606,005)

CME

Ultra

Long

Term

U.S.

Treasury

Bond

9

December

2023

1,150,690

(

82,503)

ICE

mini

MSCI

EAFE

Index

213

December

2023

22,364,374

(

622,399)

Total

Futures

Long

Contracts

$

411,030,127

(

$

15,423,475)

CME

E-mini

Russell

2000

Index

(435)

December

2023

(

$

40,819,504)

$

1,699,954

CME

E-mini

S&P

Mid-Cap

400

Index

(659)

December

2023

(

171,655,266)

5,560,906

CME

Euro

Foreign

Exchange

Currency

(135)

December

2023

(

18,153,731)

245,137

Eurex

Euro

STOXX

50

Index

(399)

December

2023

(

17,954,280)

287,504

ICE

US

mini

MSCI

Emerging

Markets

Index

(425)

December

2023

(

20,815,429)

511,054

Total

Futures

Short

Contracts

(

$

269,398,210)

$8,304,555

Total

Futures

Contracts

$

141,631,917

($7,118,920)

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

13

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Aggressive

Allocation

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Equity

$39,897

$–

$–

$40,880

4,913

2.2%

Core

International

Equity

43,762

–

–

47,271

5,013

2.5

Core

Low

Volatility

Equity

72,741

–

40,000

34,073

3,042

1.8

Core

Mid

Cap

Value

–

54,990

–

56,722

5,842

3.0

Core

Small

Cap

Value

21,903

–

–

21,568

2,396

1.2

Global

Stock

65,070

895

–

71,357

5,783

3.8

High

Yield

9,654

406

8,200

2,012

505

0.1

Income

5,200

149

4,320

1,001

121

0.1

International

Allocation

124,296

3,545

–

132,382

15,478

7.1

International

Index

10,104

229

–

10,740

895

0.6

Large

Cap

Value

93,781

6,542

–

95,974

4,816

5.1

Limited

Maturity

Bond

9,991

216

8,200

2,094

223

0.1

Mid

Cap

Stock

109,957

6,197

–

115,108

6,385

6.2

Small

Cap

Stock

68,888

9,673

–

69,643

4,366

3.7

Total

U.S.

Affiliated

Registered

Investment

Companies

675,244

700,825

37.5

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

240,088

218,636

245,349

213,375

21,337

11.4

Total

Affiliated

Short-Term

Investments

240,088

213,375

11.4

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

720

98,696

98,369

1,047

1,047

<0.1

Total

Collateral

Held

for

Securities

Loaned

720

1,047

<0.1

Total

Value

$916,052

$915,247

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Equity

$–

$983

$

–

$–

Core

International

Equity

–

3,509

–

–

Core

Low

Volatility

Equity

1,544

(212)

–

–

Core

Mid

Cap

Value

Fund

–

1,732

–

–

Core

Small

Cap

Value

Fund

–

(335)

–

–

Global

Stock

–

5,392

–

894

High

Yield

(1,586)

1,738

–

406

Income

(905)

877

–

149

International

Allocation

–

4,541

–

3,545

International

Index

–

407

–

228

Large

Cap

Value

–

(4,349)

4,868

1,673

Limited

Maturity

Bond

(385)

472

–

217

Mid

Cap

Stock

–

(1,046)

5,708

490

Small

Cap

Stock

–

(8,917)

9,234

438

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

–

–

–

8,899

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$16,939

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

12

Total

Affiliated

Income

from

Securities

Loaned,

Net

$12

Total

Value

($1,332)

$4,792

$

19,810

All

Cap

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

14

Shares

Common

Stock

(

96.7%

)

Value

Communications

Services

(6.5%)

40,950

Alphabet,

Inc.,

Class

C

a

$

5,399,257

18,787

Comcast

Corporation

833,016

10,470

Meta

Platforms,

Inc.

a

3,143,199

7,010

Walt

Disney

Company

a

568,160

Total

9,943,632

Consumer

Discretionary

(9.4%)

30,689

Amazon.com,

Inc.

a

3,901,186

6,400

Caesars

Entertainment,

Inc.

a

296,640

25,640

Clarus

Corporation

193,838

45,587

Everi

Holdings,

Inc.

a

602,660

6,521

Grand

Canyon

Education,

Inc.

a

762,175

1,984

Home

Depot,

Inc.

599,485

3,072

Lear

Corporation

412,262

10,965

Lowe's

Companies,

Inc.

2,278,966

8,940

NIKE,

Inc.

854,843

160

NVR,

Inc.

a

954,128

1,370

O'Reilly

Automotive,

Inc.

a

1,245,138

8,486

Sony

Group

Corporation

ADR

699,331

1,152

Tesla,

Inc.

a

288,253

4,730

Tractor

Supply

Company

960,427

4,909

Wyndham

Hotels

&

Resorts,

Inc.

341,372

Total

14,390,704

Consumer

Staples

(6.8%)

19,599

BJ's

Wholesale

Club

Holdings,

Inc.

a

1,398,781

2,700

Casey's

General

Stores,

Inc.

733,104

4,840

Celsius

Holdings,

Inc.

a

830,544

96,172

Coty,

Inc.

a

1,055,007

5,662

Dollar

Tree,

Inc.

a

602,720

3,976

Kenvue,

Inc.

79,838

3,829

Lamb

Weston

Holdings,

Inc.

354,029

23,160

Philip

Morris

International,

Inc.

2,144,153

20,603

Sysco

Corporation

1,360,828

12,760

Turning

Point

Brands,

Inc.

294,628

9,840

Walmart,

Inc.

1,573,711

Total

10,427,343

Energy

(3.9%)

11,928

Devon

Energy

Corporation

568,966

14,597

Exxon

Mobil

Corporation

1,716,315

65,266

NOV,

Inc.

1,364,059

3,086

Pioneer

Natural

Resources

Company

708,391

79,466

TechnipFMC

plc

1,616,339

Total

5,974,070

Financials

(12.2%)

30,791

Ally

Financial,

Inc.

821,504

6,760

American

Express

Company

1,008,524

5,486

Ameriprise

Financial,

Inc.

1,808,624

16,130

Arch

Capital

Group,

Ltd.

a

1,285,722

30,010

Bank

of

America

Corporation

821,674

4,711

Berkshire

Hathaway,

Inc.

a

1,650,263

19,850

Cadence

Bank

421,217

4,280

Houlihan

Lokey,

Inc.

458,474

9,080

Intercontinental

Exchange,

Inc.

998,982

13,838

J.P.

Morgan

Chase

&

Company

2,006,787

2,381

Kinsale

Capital

Group,

Inc.

986,043

6,944

Marsh

&

McLennan

Companies,

Inc.

1,321,443

6,000

Mastercard,

Inc.

2,375,460

7,728

Morgan

Stanley

631,146

21,029

Old

National

Bancorp

305,762

Shares

Common

Stock

(96.7%)

Value

Financials

(12.2%)

-

continued

18,174

Wells

Fargo

&

Company

$

742,590

5,960

Western

Alliance

Bancorp

273,981

1,880

Zurich

Insurance

Group

AG

860,205

Total

18,778,401

Health

Care

(13.6%)

7,356

Abbott

Laboratories

712,428

24,979

AstraZeneca

plc

ADR

1,691,578

8,427

Baxter

International,

Inc.

318,035

1,294

Biogen,

Inc.

a

332,571

7,520

Bio-Techne

Corporation

511,886

3,507

Cencora,

Inc.

631,155

4,251

CVS

Health

Corporation

296,805

2,993

Danaher

Corporation

742,563

4,160

Dexcom,

Inc.

a

388,128

4,230

Elevance

Health,

Inc.

1,841,827

16,190

Gilead

Sciences,

Inc.

1,213,279

9,270

Halozyme

Therapeutics,

Inc.

a

354,114

2,830

HCA

Healthcare,

Inc.

696,123

2,462

Intuitive

Surgical,

Inc.

a

719,618

3,030

IQVIA

Holding,

Inc.

a

596,152

8,029

Johnson

&

Johnson

1,250,517

4,717

Laboratory

Corporation

of

America

Holdings

948,353

6,902

Lantheus

Holdings,

Inc.

a

479,551

50,439

Maravai

LifeSciences

Holdings,

Inc.

a

504,390

19,400

Merck

&

Company,

Inc.

1,997,230

13,040

Novo

Nordisk

AS

ADR

a

1,185,858

3,599

UnitedHealth

Group,

Inc.

1,814,580

8,661

Zimmer

Biomet

Holdings,

Inc.

971,937

3,348

Zoetis,

Inc.

582,485

Total

20,781,163

Industrials

(11.6%)

5,010

Advanced

Drainage

Systems,

Inc.

570,288

12,983

Badger

Infrastructure

Solutions,

Ltd.

331,589

5,673

Cummins,

Inc.

1,296,054

13,941

Fastenal

Company

761,736

6,034

FedEx

Corporation

1,598,527

34,117

Fluor

Corporation

a

1,252,094

4,076

General

Dynamics

Corporation

900,674

4,188

Honeywell

International,

Inc.

773,691

13,583

Howmet

Aerospace,

Inc.

628,214

41,270

Janus

International

Group,

Inc.

a

441,589

13,865

Knight-Swift

Transportation

Holdings,

Inc.

695,330

61,913

Masterbrand,

Inc.

a

752,243

5,811

Maximus,

Inc.

433,965

2,690

Middleby

Corporation

a

344,320

14,495

Moog,

Inc.

1,637,355

7,772

Simpson

Manufacturing

Company,

Inc.

1,164,323

12,913

Timken

Company

948,976

10,215

TransUnion

733,335

17,595

Uber

Technologies,

Inc.

a

809,194

17,968

V2X,

Inc.

a

928,227

18,540

WillScot

Mobile

Mini

Holdings

Corporation

a

771,079

Total

17,772,803

Information

Technology

(23.5%)

1,215

Adobe,

Inc.

a

619,528

2,880

ANSYS,

Inc.

a

856,944

All

Cap

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

15

Shares

Common

Stock

(96.7%)

Value

Information

Technology

(23.5%)

-

continued

39,730

Apple,

Inc.

$

6,802,173

20,237

Applied

Materials,

Inc.

2,801,813

4,251

Arista

Networks,

Inc.

a

781,886

7,720

Ciena

Corporation

a

364,847

38,580

Cisco

Systems,

Inc.

2,074,061

9,480

Cognex

Corporation

402,331

7,850

Crane

NXT

Company

436,225

10,416

Descartes

Systems

Group,

Inc.

a

764,326

8,650

Entegris,

Inc.

812,322

569

Fair

Isaac

Corporation

a

494,194

9,690

Lattice

Semiconductor

Corporation

a

832,662

1,490

Littelfuse,

Inc.

368,507

26,526

Microsoft

Corporation

8,375,585

2,380

NICE,

Ltd.

ADR

a,b

404,600

4,679

NVIDIA

Corporation

2,035,318

3,251

Palo

Alto

Networks,

Inc.

a

762,164

6,016

QUALCOMM,

Inc.

668,137

7,063

Salesforce,

Inc.

a

1,432,235

1,672

ServiceNow,

Inc.

a

934,581

5,268

Texas

Instruments,

Inc.

837,665

2,338

Tyler

Technologies,

Inc.

a

902,795

2,863

Universal

Display

Corporation

449,462

8,414

Workiva,

Inc.

a

852,675

Total

36,067,036

Materials

(4.3%)

55,341

Axalta

Coating

Systems,

Ltd.

a

1,488,673

6,300

Ball

Corporation

313,614

12,220

Berry

Plastics

Group,

Inc.

756,540

13,270

Carpenter

Technology

Corporation

891,877

10,805

PPG

Industries,

Inc.

1,402,489

3,563

Steel

Dynamics,

Inc.

382,025

20,258

Summit

Materials,

Inc.

a

630,834

51,924

Tronox

Holdings

plc

697,858

Total

6,563,910

Real

Estate

(2.8%)

6,040

Agree

Realty

Corporation

333,650

3,490

Alexandria

Real

Estate

Equities,

Inc.

349,349

4,390

AvalonBay

Communities,

Inc.

753,939

4,130

Camden

Property

Trust

390,615

1,450

Equinix,

Inc.

1,053,077

5,780

FirstService

Corporation

841,221

5,529

Prologis,

Inc.

620,409

Total

4,342,260

Utilities

(2.1%)

13,890

CenterPoint

Energy,

Inc.

372,946

7,265

Duke

Energy

Corporation

641,209

3,750

Entergy

Corporation

346,875

9,040

NextEra

Energy,

Inc.

517,902

13,499

NiSource,

Inc.

333,155

6,643

NorthWestern

Corporation

319,263

7,947

Portland

General

Electric

Company

321,695

5,283

Spire,

Inc.

298,912

Total

3,151,957

Total

Common

Stock

(cost

$128,521,970)

148,193,279

Shares

Registered

Investment

Companies

(

1.5%

)

Value

U.S.

Unaffiliated  (1.5%)

30,163

SPDR

Portfolio

S&P

1500

Composite

Stock

Market

ETF

$

1,583,256

3,668

SPDR

S&P

Semiconductor

ETF

718,965

Total

2,302,221

Total

Registered

Investment

Companies

(cost

$2,303,059)

2,302,221

Shares

Collateral

Held

for

Securities

Loaned

(

0.2%

)

Value

376,750

Thrivent

Cash

Management

Trust

376,750

Total

Collateral

Held

for

Securities

Loaned

(cost

$376,750)

376,750

Shares

Short-Term

Investments

(

1.8%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

269,188

5.650%

2,691,880

Total

Short-Term

Investments

(cost

$2,691,429)

2,691,880

Total

Investments

(cost

$133,893,208)

100.2%

$153,564,130

Other

Assets

and

Liabilities,

Net

(0.2%)

(327,954)

Total

Net

Assets

100.0%

$153,236,176

a

Non-income

producing

security.

b

All

or

a

portion

of

the

security

is

on

loan.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

All

Cap

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Common

Stock

$

374,000

Total

lending

$374,000

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$376,750

Net

amounts

due

to

counterparty

$2,750

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

ETF

-

Exchange

Traded

Fund

plc

-

Public

Limited

Company

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

All

Cap

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

16

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

All

Cap

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

9,943,632

9,943,632

–

–

Consumer

Discretionary

14,390,704

14,390,704

–

–

Consumer

Staples

10,427,343

10,427,343

–

–

Energy

5,974,070

5,974,070

–

–

Financials

18,778,401

17,918,196

860,205

–

Health

Care

20,781,163

20,781,163

–

–

Industrials

17,772,803

17,441,214

331,589

–

Information

Technology

36,067,036

36,067,036

–

–

Materials

6,563,910

6,563,910

–

–

Real

Estate

4,342,260

4,342,260

–

–

Utilities

3,151,957

3,151,957

–

–

Registered

Investment

Companies

U.S.

Unaffiliated

2,302,221

2,302,221

–

–

Subtotal

Investments

in

Securities

$150,495,500

$149,303,706

$1,191,794

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

2,691,880

Collateral

Held

for

Securities

Loaned

376,750

Subtotal

Other

Investments

$3,068,630

Total

Investments

at

Value

$153,564,130

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

All

Cap

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$2,637

$22,078

$22,023

$2,692

269

1.8%

Total

Affiliated

Short-Term

Investments

2,637

2,692

1.8

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

601

27,816

28,040

377

377

0.2

Total

Collateral

Held

for

Securities

Loaned

601

377

0.2

Total

Value

$3,238

$3,069

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$0

($0)

$

–

$125

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$125

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

5

Total

Affiliated

Income

from

Securities

Loaned,

Net

$5

Total

Value

$0

($0)

$

–

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

17

Principal

Amount

Bank

Loans

(

6.0%

)

a

Value

Basic

Materials

(0.2%)

Arsenal

AIC

Parent,

LLC,

Term

Loan

$

76,687

9.883%, 

(TSFR1M

+

4.500%),

8/18/2030

b

$

76,463

Grinding

Media,

Inc.,

Term

Loan

84,967

9.530%, 

(TSFR1M

+

4.000%),

10/12/2028

b,c

84,117

INEOS

US

Petrochem,

LLC,

Term

Loan

225,763

8.181%, 

(TSFR1M

+

2.750%),

1/29/2026

b

224,522

Lummus

Technology

Holdings

V,

LLC,

Term

Loan

77,640

8.931%, 

(TSFR1M

+

3.500%),

6/30/2027

b

77,374

Nouryon

USA,

LLC,

Term

Loan

200,964

8.427%, 

(TSFR3M

+

3.000%),

10/1/2025

b

200,629

Spectrum

Group

Buyer,

Inc.,

Term

Loan

76,515

11.953%, 

(TSFR1M

+

6.500%),

5/19/2028

b

73,512

Total

736,617

Capital

Goods

(0.6%)

Ali

Group

North

America

Corporation,

Term

Loan

113,307

7.431%, 

(TSFR1M

+

2.000%),

7/22/2029

b

113,149

Brookfield

WEC

Holdings,

Inc.,

Term

Loan

186,086

8.181%, 

(TSFR1M

+

2.750%),

8/1/2025

b

185,871

BW

Holding,

Inc.,

Term

Loan

80,115

9.573%, 

(TSFR1M

+

4.000%),

12/14/2028

b

71,732

Chart

Industries,

Inc.,

Term

Loan

77,306

9.174%, 

(TSFR1M

+

3.750%),

3/17/2030

b,c

77,306

Charter

Next

Generation,

Inc.,

Term

Loan

222,153

9.181%, 

(TSFR1M

+

3.750%),

12/1/2027

b

219,932

Clydesdale

Acquisition

Holdings,

Inc.,

Term

Loan

214,825

9.591%, 

(TSFR1M

+

4.175%),

4/13/2029

b

211,664

Cornerstone

Building

Brands,

Inc.,

Term

Loan

221,893

8.682%, 

(TSFR1M

+

3.250%),

4/12/2028

b

215,930

Emerald

Debt

Merger

Sub,

LLC,

Term

Loan

168,591

8.316%, 

(TSFR1M

+

3.000%),

5/31/2030

b

168,276

Foley

Products

Company,

LLC,

Term

Loan

68,741

10.290%, 

(SOFRRATE

+

4.750%),

2/16/2029

b

68,383

Proampac

PG

Borrower,

LLC,

Term

Loan

119,205

0.000%, 

(TSFR1M

+

4.500%),

9/26/2028

b,d,e

118,430

Principal

Amount

Bank

Loans

(6.0%)

a

Value

Capital

Goods

(0.6%)

-

continued

Quikrete

Holdings,

Inc.,

Term

Loan

$

77,198

8.056%, 

(TSFR1M

+

2.625%),

1/31/2027

b

$

77,005

169,943

8.181%, 

(TSFR1M

+

2.750%),

3/18/2029

b

169,846

Smyrna

Ready

Mix

Concrete,

LLC,

Term

Loan

160,248

9.666%, 

(TSFR1M

+

4.250%),

4/1/2029

b,c

160,449

TK

Elevator

U.S.

Newco,

Inc.,

Term

Loan

126,725

9.381%, 

(TSFR6M

+

3.500%),

7/31/2027

b

126,344

TransDigm,

Inc.,

Term

Loan

353,225

8.640%, 

(TSFR1M

+

3.250%),

8/24/2028

b

353,169

Vertiv

Group

Corporation,

Term

Loan

124,718

8.192%, 

(TSFR1M

+

2.750%),

3/2/2027

b

124,451

Total

2,461,937

Communications

Services

(0.9%)

Altice

France

SA/France,

Term

Loan

260,664

10.808%, 

(TSFR1M

+

5.500%),

8/31/2028

b

235,315

CCI

Buyer,

Inc.,

Term

Loan

99,975

9.390%, 

(TSFR3M

+

4.000%),

12/17/2027

b

98,538

Cengage

Learning,

Inc.,

Term

Loan

82,540

10.323%, 

(TSFR3M

+

4.750%),

7/14/2026

b

82,044

Charter

Communications

Operating,

LLC,

Term

Loan

312,742

7.116%, 

(TSFR3M

+

1.750%),

2/1/2027

b

312,236

Clear

Channel

Outdoor

Holdings,

Inc.,

Term

Loan

231,176

9.130%, 

(TSFR3M

+

3.500%),

8/23/2026

b

224,144

CMG

Media

Corporation,

Term

Loan

156,000

0.000%, 

(LIBOR

3M

+

3.500%),

12/17/2026

b,d,e

142,350

Crown

Subsea

Communications

Holding,

Inc.,

Term

Loan

76,024

10.444%, 

(TSFR1M

+

5.000%),

4/27/2027

b

76,151

115,173

10.694%, 

(TSFR1M

+

5.250%),

4/27/2027

b

115,461

CSC

Holdings,

LLC,

Term

Loan

122,184

7.947%, 

(LIBOR

1M

+

2.500%),

4/15/2027

b

110,372

DIRECTV

Financing,

LLC,

Term

Loan

280,652

10.431%, 

(TSFR1M

+

5.000%),

8/2/2027

b

273,947

Intelsat

Jackson

Holdings

SA,

Term

Loan

149,354

9.772%, 

(TSFR6M

+

4.250%),

2/1/2029

b

148,880

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

18

Principal

Amount

Bank

Loans

(6.0%)

a

Value

Communications

Services

(0.9%)

-

continued

Level

3

Financing,

Inc.,

Term

Loan

$

131,000

7.181%, 

(TSFR1M

+

1.750%),

3/1/2027

b

$

123,500

Lumen

Technologies,

Inc.,

Term

Loan

160,628

7.681%, 

(TSFR1M

+

2.250%),

3/15/2027

b

114,093

McGraw-Hill

Education,

Inc.,

Term

Loan

160,000

10.181%, 

(LIBOR

1M

+

4.750%),

7/30/2028

b,d,e

156,566

MH

Sub

I,

LLC,

Term

Loan

200,785

9.566%, 

(TSFR1M

+

4.250%),

5/3/2028

b

193,976

NEP

Group,

Inc.,

Term

Loan

82,516

8.681%, 

(TSFR1M

+

3.250%),

10/20/2025

b

79,576

Playtika

Holding

Corporation,

Term

Loan

99,975

8.181%, 

(TSFR1M

+

2.750%),

3/11/2028

b

99,788

Radiate

Holdco,

LLC,

Term

Loan

168,502

8.681%, 

(TSFR1M

+

3.250%),

9/25/2026

b

137,427

RLG

Holdings,

LLC,

Term

Loan

80,114

9.681%, 

(TSFR1M

+

4.250%),

7/8/2028

b

75,107

SBA

Senior

Finance

II,

LLC,

Term

Loan

116,509

7.170%, 

(TSFR1M

+

1.750%),

4/11/2025

b,d,e

116,389

UPC

Financing

Partnership,

Term

Loan

77,000

8.372%, 

(TSFR1M

+

2.925%),

1/31/2029

b

75,749

Virgin

Media

Bristol,

LLC,

Term

Loan

190,000

7.947%, 

(TSFR1M

+

2.500%),

1/31/2028

b

184,325

Zayo

Group

Holdings,

Inc.,

Term

Loan

160,240

8.431%, 

(TSFR1M

+

3.000%),

3/9/2027

b

130,485

Ziggo

Financing

Partnership,

Term

Loan

128,000

7.947%, 

(TSFR1M

+

2.500%),

4/30/2028

b

124,906

Total

3,431,325

Consumer

Cyclical

(1.1%)

1011778

B.C.,

ULC,

Term

Loan

311,578

7.566%, 

(TSFR1M

+

2.250%),

9/21/2030

b

310,217

AlixPartners,

LLP,

Term

Loan

141,839

8.181%, 

(TSFR1M

+

2.750%),

2/4/2028

b

141,626

Allied

Universal

Holdco,

LLC,

Term

Loan

310,828

9.166%, 

(TSFR1M

+

3.750%),

5/14/2028

b

299,772

Alterra

Mountain

Company,

Term

Loan

98,000

8.931%, 

(TSFR1M

+

3.500%),

8/17/2028

b

97,674

Principal

Amount

Bank

Loans

(6.0%)

a

Value

Consumer

Cyclical

(1.1%)

-

continued

Arches

Buyer,

Inc.,

Term

Loan

$

53,449

8.666%, 

(TSFR1M

+

3.250%),

12/6/2027

b

$

52,246

Caesars

Entertainment,

Inc.,

Term

Loan

198,005

8.666%, 

(TSFR1M

+

3.250%),

2/6/2030

b

197,882

Carnival

Corporation,

Term

Loan

213,747

8.327%, 

(TSFR1M

+

3.000%),

8/8/2027

b

212,946

Cinemark

USA,

Inc.,

Term

Loan

88,366

9.089%, 

(TSFR1M

+

3.750%),

5/24/2030

b

88,164

Clarios

Global,

LP,

Term

Loan

181,159

9.066%, 

(TSFR1M

+

3.750%),

5/4/2030

b

180,594

Delta

2

Lux

SARL,

Term

Loan

185,000

8.316%, 

(TSFR1M

+

3.000%),

1/15/2030

b

184,815

Ensemble

RCM,

LLC,

Term

Loan

74,611

9.219%, 

(TSFR1M

+

3.750%),

8/1/2026

b

74,638

Fertitta

Entertainment,

LLC/NV,

Term

Loan

76,226

9.316%, 

(TSFR1M

+

4.000%),

1/27/2029

b

75,368

First

Brands

Group,

LLC,

Term

Loan

100,229

10.881%, 

(TSFR6M

+

5.000%),

3/30/2027

b

98,725

GoDaddy

Operating

Company,

LLC,

Term

Loan

122,079

7.816%, 

(TSFR1M

+

2.500%),

11/10/2029

b

122,117

Great

Outdoors

Group,

LLC,

Term

Loan

173,232

9.181%, 

(TSFR1M

+

3.750%),

3/5/2028

b

172,645

Harbor

Freight

Tools

USA,

Inc.,

Term

Loan

154,806

8.181%, 

(TSFR1M

+

2.750%),

10/19/2027

b

153,469

IRB

Holding

Corporation,

Term

Loan

178,640

8.416%, 

(TSFR1M

+

3.000%),

12/15/2027

b

177,814

Light

&

Wonder

International,

Inc.,

Term

Loan

188,095

8.434%, 

(TSFR1M

+

3.000%),

4/14/2029

b

187,860

Petco

Health

&

Wellness

Company,

Inc.,

Term

Loan

80,228

8.902%, 

(TSFR3M

+

3.250%),

3/4/2028

b

79,225

PetSmart,

LLC,

Term

Loan

243,377

9.166%, 

(TSFR1M

+

3.750%),

2/12/2028

b

242,377

Pilot

Travel

Centers,

LLC,

Term

Loan

209,323

7.416%, 

(TSFR1M

+

2.000%),

8/6/2028

b

208,948

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

19

Principal

Amount

Bank

Loans

(6.0%)

a

Value

Consumer

Cyclical

(1.1%)

-

continued

Prime

Security

Services

Borrower,

LLC,

Term

Loan

$

249,679

8.192%, 

(TSFR1M

+

2.750%),

9/23/2026

b

$

249,227

Scientific

Games

Holdings,

LP,

Term

Loan

126,720

8.768%, 

(TSFR1M

+

3.500%),

4/4/2029

b

125,875

Staples,

Inc.,

Term

Loan

121,667

10.634%, 

(LIBOR

3M

+

5.000%),

4/12/2026

b

104,137

Stars

Group

Holdings

BV,

Term

Loan

73,253

7.902%, 

(TSFR3M

+

2.250%),

7/21/2026

b

73,154

Uber

Technologies,

Inc.,

Term

Loan

94,166

8.159%, 

(TSFR1M

+

2.750%),

3/3/2030

b

94,080

UFC

Holdings,

LLC,

Term

Loan

122,378

8.369%, 

(TSFR3M

+

2.750%),

4/29/2026

b

122,183

Total

4,127,778

Consumer

Non-Cyclical

(1.0%)

AI

Aqua

Merger

Sub,

Inc.,

Term

Loan

242,781

9.084%, 

(TSFR1M

+

3.750%),

7/30/2028

b

240,089

Alltech,

Inc.,

Term

Loan

75,258

9.431%, 

(TSFR1M

+

4.000%),

10/15/2028

b

72,530

Amneal

Pharmaceuticals,

LLC,

Term

Loan

187,004

8.931%, 

(TSFR1M

+

3.500%),

5/4/2025

b

183,264

Bausch

+

Lomb

Corporation,

Term

Loan

196,015

8.755%, 

(TSFR1M

+

3.250%),

5/10/2027

b

190,244

86,021

0.000%, 

(TSFR1M

+

4.000%),

9/14/2028

b,c,d,e

84,838

Chobani,

LLC,

Term

Loan

77,676

8.931%, 

(TSFR1M

+

3.500%),

10/23/2027

b

77,603

DaVita,

Inc.,

Term

Loan

62,563

7.181%, 

(TSFR1M

+

1.750%),

8/12/2026

b

61,742

Elanco

Animal

Health,

Inc.,

Term

Loan

98,623

7.180%, 

(TSFR1M

+

1.750%),

8/1/2027

b

96,637

Froneri

U.S.,

Inc.,

Term

Loan

191,026

7.666%, 

(TSFR3M

+

2.250%),

1/31/2027

b

189,440

Gainwell

Acquisition

Corporation,

Term

Loan

282,819

9.490%, 

(TSFR3M

+

4.000%),

10/1/2027

b

275,482

ICON

Luxembourg

SARL,

Term

Loan

198,192

7.902%, 

(TSFR3M

+

2.250%),

7/1/2028

b

198,034

Principal

Amount

Bank

Loans

(6.0%)

a

Value

Consumer

Non-Cyclical

(1.0%)

-

continued

Jazz

Financing

Lux

SARL,

Term

Loan

$

246,204

8.931%, 

(TSFR1M

+

3.500%),

5/5/2028

b

$

245,966

LifePoint

Health,

Inc.,

Term

Loan

75,314

0.000%, 

(TSFR1M

+

5.500%),

11/16/2028

b,c,d,e

73,055

274,301

9.377%, 

(TSFR3M

+

3.750%),

11/16/2025

b,d,e

273,388

Medline

Borrower,

LP,

Term

Loan

452,407

8.681%, 

(TSFR1M

+

3.250%),

10/21/2028

b

450,914

Organon

&

Company,

Term

Loan

226,708

8.442%, 

(TSFR1M

+

3.000%),

6/2/2028

b

226,028

Packaging

Coordinators

Midco,

Inc.,

Term

Loan

76,412

9.152%, 

(TSFR3M

+

3.500%),

11/30/2027

b

76,006

Phoenix

Newco,

Inc.,

Term

Loan

184,066

8.681%, 

(TSFR1M

+

3.250%),

11/15/2028

b

182,603

PRA

Health

Sciences,

Inc.,

Term

Loan

49,380

7.902%, 

(TSFR3M

+

2.250%),

7/1/2028

b

49,340

Reynolds

Consumer

Products,

LLC,

Term

Loan

142,528

7.166%, 

(TSFR1M

+

1.750%),

2/4/2027

b

142,285

Select

Medical

Corporation,

Term

Loan

125,685

8.316%, 

(TSFR1M

+

3.000%),

3/6/2027

b

125,214

Sotera

Health

Holdings,

LLC,

Term

Loan

167,500

8.181%, 

(TSFR1M

+

2.750%),

12/11/2026

b

165,783

Star

Parent,

Inc.,

Term

Loan

182,400

0.000%, 

(TSFR1M

+

4.000%),

9/28/2030

b,d,e

178,119

Total

3,858,604

Energy

(0.1%)

Buckeye

Partners,

LP,

Term

Loan

124,718

7.666%, 

(TSFR1M

+

2.250%),

11/1/2026

b

124,531

CQP

Holdco,

LP,

Term

Loan

249,144

8.990%, 

(TSFR1M

+

3.500%),

6/4/2028

b

249,086

GIP

II

Blue

Holding,

LP,

Term

Loan

42,929

9.931%, 

(TSFR3M

+

4.500%),

9/29/2028

b

42,983

GIP

III

Stetson

I,

LP,

Term

Loan

68,927

9.666%, 

(TSFR1M

+

4.250%),

7/18/2025

b

68,855

Oryx

Midstream

Services

Permian

Basin,

LLC,

Term

Loan

59,537

8.692%, 

(TSFR3M

+

3.250%),

10/5/2028

b

59,444

Total

544,899

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

20

Principal

Amount

Bank

Loans

(6.0%)

a

Value

Financials

(0.5%)

Acrisure,

LLC,

Term

Loan

$

117,779

8.931%, 

(LIBOR

1M

+

3.500%),

2/15/2027

b

$

115,970

Alliant

Holdings

Intermediate,

LLC,

Term

Loan

48,506

8.831%, 

(TSFR1M

+

3.500%),

11/6/2027

b

48,399

AmWINS

Group,

Inc.,

Term

Loan

188,067

7.681%, 

(TSFR1M

+

2.250%),

2/19/2028

b

186,764

Asurion,

LLC,

Term

Loan

209,088

8.681%, 

(LIBOR

3M

+

3.250%),

12/23/2026

b

204,383

26,375

8.681%, 

(TSFR3M

+

3.250%),

7/31/2027

b

25,452

55,158

9.666%, 

(TSFR1M

+

4.250%),

8/19/2028

b

53,504

Edelman

Financial

Engines

Center,

LLC,

Term

Loan

51,473

8.931%, 

(TSFR1M

+

3.500%),

4/7/2028

b

50,869

First

Eagle

Holdings,

Inc.,

Term

Loan

51,451

7.990%, 

(TSFR3M

+

2.500%),

2/2/2027

b

50,955

FleetCor

Technologies

Operating

Company,

LLC,

Term  Loan

99,978

7.166%, 

(TSFR1M

+

1.750%),

4/30/2028

b

99,546

Focus

Financial

Partners,

LLC,

Term

Loan

85,353

8.566%, 

(TSFR1M

+

3.250%),

6/30/2028

b

85,057

Howden

Group

Holdings,

Ltd.,

Term

Loan

51,471

8.688%, 

(LIBOR

1M

+

3.250%),

11/12/2027

b

51,252

HUB

International,

Ltd.,

Term

Loan

237,500

9.584%, 

(TSFR1M

+

4.250%),

6/20/2030

b

237,896

Hudson

River

Trading,

LLC,

Term

Loan

53,452

8.631%, 

(TSFR1M

+

3.000%),

3/18/2028

b

53,061

Jane

Street

Group,

LLC,

Term

Loan

99,972

8.181%, 

(TSFR1M

+

2.750%),

1/26/2028

b

99,597

Osaic

Holdings,

Inc.,

Term

Loan

44,610

9.816%, 

(TSFR1M

+

4.500%),

8/16/2028

b

44,540

Sedgwick

Claims

Management

Services,

Inc.,

Term

Loan

87,063

9.066%, 

(TSFR1M

+

3.750%),

2/24/2028

b

86,834

Trans

Union,

LLC,

Term

Loan

155,973

7.681%, 

(TSFR1M

+

2.250%),

12/1/2028

b

155,760

USI,

Inc./NY,

Term

Loan

186,120

9.140%, 

(TSFR1M

+

3.750%),

11/22/2029

b

185,835

Principal

Amount

Bank

Loans

(6.0%)

a

Value

Financials

(0.5%)

-

continued

VFH

Parent,

LLC,

Term

Loan

$

76,230

8.418%, 

(TSFR1M

+

3.000%),

1/13/2029

b

$

75,547

Total

1,911,221

Technology

(1.2%)

Amentum

Government

Services

Holdings,

LLC,

Term  Loan

124,737

9.331%, 

(TSFR1M

+

4.000%),

2/15/2029

b

122,788

AthenaHealth

Group,

Inc.,

Term

Loan

343,472

8.568%, 

(PRIME

+

3.250%),

2/15/2029

b,d,e

336,496

Boxer

Parent

Company,

Inc.,

Term

Loan

190,746

9.181%, 

(TSFR1M

+

3.750%),

10/2/2025

b

190,457

Central

Parent,

Inc.,

Term

Loan

223,312

9.640%, 

(TSFR3M

+

4.250%),

7/6/2029

b

223,192

Cloud

Software

Group,

Inc.,

Term

Loan

201,992

9.990%, 

(TSFR3M

+

4.500%),

3/30/2029

b

193,955

Coherent

Corporation,

Term

Loan

115,183

8.181%, 

(TSFR3M

+

2.750%),

7/1/2029

b

114,680

CommScope,

Inc.,

Term

Loan

79,586

8.681%, 

(TSFR1M

+

3.250%),

4/4/2026

b

72,463

CoreLogic,

Inc.,

Term

Loan

102,218

8.931%, 

(TSFR1M

+

3.500%),

6/2/2028

b

94,253

Cornerstone

OnDemand,

Inc.,

Term

Loan

136,613

9.181%, 

(TSFR1M

+

3.750%),

10/15/2028

b

129,612

Dcert

Buyer,

Inc.,

Term

Loan

151,431

9.316%, 

(TSFR6M

+

4.000%),

10/16/2026

b

150,278

Dun

&

Bradstreet

Corporation,

Term

Loan

149,420

8.167%, 

(TSFR1M

+

2.750%),

2/8/2026

b

149,093

Entegris,

Inc.,

Term

Loan

105,734

7.871%, 

(TSFR3M

+

2.500%),

7/6/2029

b

105,701

Gen

Digital,

Inc.,

Term

Loan

144,108

7.416%, 

(TSFR1M

+

2.000%),

9/12/2029

b

143,532

Genesys

Cloud

Services

Holdings

II,

LLC,

Term

Loan

125,038

9.431%, 

(TSFR1M

+

4.000%),

12/1/2027

b

125,038

GTCR

W

Merger

Sub,

LLC,

Term

Loan

249,600

0.000%, 

(TSFR1M

+

3.000%),

9/20/2030

b,d,e

249,418

Informatica,

LLC,

Term

Loan

124,734

8.181%, 

(TSFR1M

+

2.750%),

10/29/2028

b

124,189

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

21

Principal

Amount

Bank

Loans

(6.0%)

a

Value

Technology

(1.2%)

-

continued

Magenta

Buyer,

LLC,

Term

Loan

$

134,970

10.631%, 

(TSFR3M

+

5.000%),

7/27/2028

b

$

100,027

McAfee

Corporation,

Term

Loan

256,404

9.180%, 

(TSFR1M

+

3.750%),

3/1/2029

b

250,073

Mitchell

International,

Inc.,

Term

Loan

156,412

9.181%, 

(TSFR1M

+

3.750%),

10/15/2028

b

153,630

MKS

Instruments,

Inc.,

Term

Loan

224,730

8.166%, 

(TSFR1M

+

2.750%),

8/17/2029

b

224,368

Open

Text

Corporation,

Term

Loan

191,553

8.166%, 

(TSFR1M

+

2.750%),

1/31/2030

b

191,466

Peraton

Corporation,

Term

Loan

387,812

9.166%, 

(TSFR1M

+

3.750%),

2/1/2028

b

386,602

Polaris

Newco,

LLC,

Term

Loan

224,707

9.431%, 

(TSFR3M

+

4.000%),

6/4/2028

b

214,836

Proofpoint,

Inc.,

Term

Loan

166,307

8.681%, 

(TSFR1M

+

3.250%),

8/31/2028

b

164,759

RealPage,

Inc.,

Term

Loan

126,707

8.431%, 

(TSFR1M

+

3.000%),

4/22/2028

b

125,123

Tempo

Acquisition,

LLC,

Term

Loan

121,765

8.316%, 

(TSFR1M

+

2.750%),

8/31/2028

b

121,765

UKG,

Inc.,

Term

Loan

266,290

8.618%, 

(TSFR3M

+

3.250%),

5/3/2026

b

265,320

Verscend

Holding

Corporation,

Term

Loan

183,127

9.431%, 

(TSFR1M

+

4.000%),

8/27/2025

b

182,931

Total

4,906,045

Transportation

(0.3%)

AAdvantage

Loyalty

IP,

Ltd.,

Term

Loan

286,563

10.338%, 

(TSFR3M

+

4.750%),

4/20/2028

b

294,873

Air

Canada,

Term

Loan

237,153

9.128%, 

(TSFR3M

+

3.500%),

8/11/2028

b

237,104

Apple

Bidco,

LLC,

Term

Loan

82,082

8.181%, 

(TSFR1M

+

2.750%),

9/23/2028

b

81,426

Brown

Group

Holding,

LLC,

Term

Loan

99,907

8.166%, 

(TSFR1M

+

2.750%),

6/7/2028

b

98,887

Genesee

&

Wyoming,

Inc.,

Term

Loan

124,708

7.490%, 

(TSFR3M

+

2.000%),

12/30/2026

b

124,434

SkyMiles

IP,

Ltd.,

Term

Loan

226,729

9.076%, 

(TSFR3M

+

3.750%),

10/20/2027

b

234,581

Principal

Amount

Bank

Loans

(6.0%)

a

Value

Transportation

(0.3%)

-

continued

United

Airlines,

Inc.,

Term

Loan

$

284,075

9.182%, 

(TSFR3M

+

3.750%),

4/21/2028

b

$

284,140

Total

1,355,445

Utilities

(0.1%)

PG&E

Corporation,

Term

Loan

183,698

8.431%, 

(TSFR1M

+

3.000%),

6/23/2025

b

183,571

Talen

Energy

Supply,

LLC,

Term

Loan

83,125

9.877%, 

(TSFR1M

+

4.500%),

5/17/2030

b

83,385

Total

266,956

Total

Bank

Loans

(cost

$23,563,747)

23,600,827

Principal

Amount

Long-Term

Fixed

Income

(

44.0%

)

Value

Asset-Backed

Securities

(4.3%)

510

Asset

Backed

Trust

200,000

3.967%, 

5/25/2061,

Ser.

2021-NPL1,

Class

A2

f,g

170,205

249,037

2.116%, 

6/25/2061,

Ser.

2021-NPL2,

Class

A1

f,g

227,654

200,000

4.090%, 

6/25/2061,

Ser.

2021-NPL2,

Class

A2

f,g

170,944

720

East

CLO

I,

Ltd.

500,000

9.576%, 

(TSFR3M

+

4.250%),

1/20/2036,

Ser.

2022-1A,

Class

C

b,f

503,807

Affirm

Asset

Securitization

Trust

550,000

4.300%, 

5/17/2027,

Ser.

2022-A,

Class

1A

f

538,270

650,000

6.610%, 

1/18/2028,

Ser.

2023-A,

Class

A

f

645,791

225,000

6.820%, 

9/15/2028,

Ser.

2023-B,

Class

A

f

225,285

Anchorage

Capital

CLO

21,

Ltd.

250,000

7.988%, 

(TSFR3M

+

2.662%),

10/20/2034,

Ser.

2021-21A,

Class

C

b,f

245,759

Ares

XL

CLO,

Ltd.

250,000

8.370%, 

(TSFR3M

+

3.062%),

1/15/2029,

Ser.

2016-40A,

Class

CRR

b,f

244,718

Babson

CLO,

Ltd.

550,000

8.488%, 

(TSFR3M

+

3.162%),

7/20/2029,

Ser.

2018-3A,

Class

D

b,f

545,592

Barings

CLO,

Ltd.

400,000

8.738%, 

(TSFR3M

+

3.412%),

1/20/2032,

Ser.

2016-2A,

Class

DR2

b,f

392,578

Business

Jet

Securities,

LLC

29,013

2.981%, 

11/15/2035,

Ser.

2020-1A,

Class

A

f

27,201

240,685

4.455%, 

6/15/2037,

Ser.

2022-1A,

Class

A

f

225,013

CarVal

CLO

VIII-C,

Ltd.

650,000

8.346%, 

(TSFR3M

+

3.000%),

10/22/2035,

Ser.

2022-2A,

Class

B1

b,f

653,686

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

22

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Asset-Backed

Securities

(4.3%)

-

continued

CarVal

CLO,

Ltd.

$

350,000

9.034%, 

(TSFR3M

+

3.700%),

4/21/2034,

Ser.

2022-1A,

Class

D

b,f

$

336,115

Cascade

Funding

Mortgage

Trust,

LLC

380,999

4.250%, 

4/25/2033,

Ser.

2023-HB12,

Class

A

b,f

364,695

College

Avenue

Student

Loans,

LLC

86,817

7.084%, 

(TSFR1M

+

1.764%),

11/26/2046,

Ser.

2017-A,

Class

A1

b,f

87,111

Dewolf

Park

CLO,

Ltd.

350,000

8.420%, 

(TSFR3M

+

3.112%),

10/15/2030,

Ser.

2017-1A,

Class

DR

b,f

336,336

FirstKey

Homes

Trust

650,000

1.968%, 

10/19/2037,

Ser.

2020-SFR2,

Class

D

f

590,318

GMAC

Mortgage

Corporation

Loan

Trust

27,572

5.934%, 

(TSFR1M

+

0.614%),

8/25/2035,

Ser.

2005-HE1,

Class

A2

b,h

15,283

GSAA

Home

Equity

Trust

76,740

4.467%, 

8/25/2034,

Ser.

2004-10,

Class

M2

b,g

66,752

Harley

Marine

Financing,

LLC

396,375

6.682%, 

5/15/2043,

Ser.

2018-1A,

Class

A2

f

395,038

Longfellow

Place

CLO,

Ltd.

375,000

7.870%, 

(TSFR3M

+

2.562%),

4/15/2029,

Ser.

2013-1A,

Class

CR3

b,f

373,958

Madison

Park

Funding

XVIII,

Ltd.

650,000

7.495%, 

(TSFR3M

+

2.162%),

10/21/2030,

Ser.

2015-18A,

Class

CRR

b,f

634,693

Neuberger

Berman

CLO,

Ltd.

350,000

8.570%, 

(TSFR3M

+

3.262%),

10/15/2029,

Ser.

2013-15A,

Class

DR2

b,f

333,352

OZLM

VIII,

Ltd.

300,000

7.220%, 

(TSFR3M

+

1.912%),

10/17/2029,

Ser.

2014-8A,

Class

A2R3

b,f

297,432

Pagaya

AI

Debt

Trust

296,180

7.556%, 

7/15/2030,

Ser.

2023-1,

Class

A

f

297,387

Pagaya

AI

Technology

in

Housing

Trust

400,000

4.250%, 

8/25/2025,

Ser.

2022-1,

Class

B

f

376,713

PPM

CLO

6,

Ltd.

600,000

9.826%, 

(TSFR3M

+

4.500%),

1/20/2031,

Ser.

2022-6A,

Class

C

b,f

599,491

Preferred

Term

Securities

XXIII,

Ltd./Preferred

Term

Securities

XXIII,

Inc.

32,687

5.871%, 

(LIBOR

3M

+

0.200%),

12/22/2036,

Ser.

A-FP

b,f

32,438

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Asset-Backed

Securities

(4.3%)

-

continued

Pretium

Mortgage

Credit

Partners,

LLC

$

450,000

5.438%, 

1/25/2052,

Ser.

2022-NPL1,

Class

A2

f,g

$

406,479

250,000

3.844%, 

6/27/2060,

Ser.

2021-NPL2,

Class

A2

f,g

198,662

275,000

3.721%, 

7/25/2051,

Ser.

2021-NPL3,

Class

A2

f,g

220,118

298,606

2.487%, 

10/25/2051,

Ser.

2021-NPL5,

Class

A1

f,g

280,638

Progress

Residential

Trust

550,000

3.600%, 

4/17/2039,

Ser.

2022-SFR3,

Class

B

f

500,240

Sculptor

CLO,

Ltd.

425,000

7.988%, 

(TSFR3M

+

2.662%),

1/20/2035,

Ser.

28A,

Class

C

b,f

417,998

Silver

Point

CLO

2,

Ltd.

500,000

7.782%, 

(TSFR3M

+

2.700%),

4/20/2035,

Ser.

2023-2A,

Class

A2

b,f

502,815

Stanwich

Mortgage

Loan

Company,

LLC

479,667

2.735%, 

10/16/2026,

Ser.

2021-NPB1,

Class

A1

f,g

437,109

Stratus

CLO,

Ltd.

425,000

8.088%, 

(TSFR3M

+

2.762%),

12/29/2029,

Ser.

2021-1A,

Class

D

b,f

418,638

400,000

8.376%, 

(TSFR3M

+

3.050%),

10/20/2031,

Ser.

2022-3A,

Class

B

b,f

401,035

Unlock

HEA

Trust

350,000

7.000%, 

10/25/2038,

Ser.

2023-1,

Class

A

e,f

330,293

Upstart

Securitization

Trust

343,287

6.590%, 

2/20/2033,

Ser.

2023-1,

Class

A

f

342,588

312,609

6.770%, 

6/20/2033,

Ser.

2023-2,

Class

A

f

312,167

Vericrest

Opportunity

Loan

Transferee

200,000

4.826%, 

2/27/2051,

Ser.

2021-NPL2,

Class

A2

f,g

159,147

250,000

4.949%, 

2/27/2051,

Ser.

2021-NPL3,

Class

A2

f,g

190,007

273,032

2.116%, 

4/25/2051,

Ser.

2021-NPL8,

Class

A1

f,g

254,019

350,000

4.826%, 

4/25/2051,

Ser.

2021-NPL6,

Class

A2

f,g

263,078

200,000

4.949%, 

4/25/2051,

Ser.

2021-NPL8,

Class

A2

f,g

151,221

350,000

4.826%, 

5/25/2051,

Ser.

2021-NPL9,

Class

A2

f,g

264,360

250,000

5.438%, 

12/26/2051,

Ser.

2021-NP12,

Class

A2

f,g

188,363

Whitebox

CLO

III,

Ltd.

300,000

7.770%, 

(TSFR3M

+

2.462%),

10/15/2034,

Ser.

2021-3A,

Class

C

b,f

296,376

Whitebox

CLO

IV,

Ltd.

500,000

7.380%, 

(TSFR3M

+

2.600%),

4/20/2036,

Ser.

2023-4A,

Class

B

b,f

497,434

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

23

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Asset-Backed

Securities

(4.3%)

-

continued

Wind

River

CLO,

Ltd.

$

200,000

7.588%, 

(TSFR3M

+

2.262%),

7/20/2030,

Ser.

2013-1A,

Class

BRR

b,f

$

198,703

Total

17,185,103

Basic

Materials

(0.7%)

Alcoa

Nederland

Holding

BV

84,000

5.500%, 

12/15/2027

f

79,791

Anglo

American

Capital

plc

60,000

3.875%, 

3/16/2029

f

53,766

ATI,

Inc.

57,000

7.250%, 

8/15/2030

56,573

ATI,

Inc.,

Convertible

81,000

3.500%, 

6/15/2025

217,849

Cascades,

Inc./Cascades

USA,

Inc.

50,000

5.125%, 

1/15/2026

f

47,863

Chemours

Company

105,000

5.750%, 

11/15/2028

f

91,129

Cleveland-Cliffs,

Inc.

35,000

5.875%, 

6/1/2027

33,313

80,000

4.625%, 

3/1/2029

f

69,685

Consolidated

Energy

Finance

SA

148,000

5.625%, 

10/15/2028

f

122,285

Ecolab,

Inc.

54,000

2.125%, 

2/1/2032

42,348

EIDP,

Inc.

33,000

4.500%, 

5/15/2026

32,143

First

Quantum

Minerals,

Ltd.

161,000

6.875%, 

10/15/2027

f

154,460

FMC

Corporation

36,000

5.150%, 

5/18/2026

34,975

Glencore

Funding,

LLC

67,000

4.000%, 

3/27/2027

f

62,890

78,000

6.125%, 

10/6/2028

e,f

77,866

36,000

6.375%, 

10/6/2030

e,f

35,903

Hecla

Mining

Company

25,000

7.250%, 

2/15/2028

24,187

Hudbay

Minerals,

Inc.

105,000

4.500%, 

4/1/2026

f

98,236

Illuminate

Buyer,

LLC/Illuminate

Holdings

IV,

Inc.

63,000

9.000%, 

7/1/2028

f

59,500

International

Flavors

&

Fragrances,

Inc.

62,000

1.230%, 

10/1/2025

f

55,577

Methanex

Corporation

69,000

4.250%, 

12/1/2024

67,156

Mineral

Resources,

Ltd.

16,000

9.250%, 

10/1/2028

f

16,160

Mosaic

Company

87,000

4.050%, 

11/15/2027

81,664

Novelis

Corporation

30,000

3.250%, 

11/15/2026

f

26,793

65,000

4.750%, 

1/30/2030

f

56,254

30,000

3.875%, 

8/15/2031

f

23,958

Nutrien,

Ltd.

86,000

4.000%, 

12/15/2026

81,510

OCI

NV

55,000

4.625%, 

10/15/2025

f

52,000

Olin

Corporation

115,000

5.125%, 

9/15/2027

107,526

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Basic

Materials

(0.7%)

-

continued

Peabody

Energy

Corporation,

Convertible

$

79,000

3.250%, 

3/1/2028

i

$

119,093

SCIL

IV,

LLC/SCIL

USA

Holdings,

LLC

76,000

5.375%, 

11/1/2026

f

69,443

SNF

Group

SACA

72,000

3.375%, 

3/15/2030

f

58,111

SunCoke

Energy,

Inc.

75,000

4.875%, 

6/30/2029

f

63,729

Taseko

Mines,

Ltd.

52,000

7.000%, 

2/15/2026

f,i

48,575

Unifrax

Escrow

Issuer

Corporation

64,000

5.250%, 

9/30/2028

f

45,577

United

States

Steel

Corporation

81,000

6.875%, 

3/1/2029

79,627

United

States

Steel

Corporation,

Convertible

92,000

5.000%, 

11/1/2026

226,596

Westlake

Corporation

45,000

3.600%, 

8/15/2026

42,509

Total

2,716,620

Capital

Goods

(1.3%)

Advanced

Drainage

Systems,

Inc.

72,000

6.375%, 

6/15/2030

f

69,152

AECOM

145,000

5.125%, 

3/15/2027

137,330

Amcor

Finance

USA,

Inc.

41,000

5.625%, 

5/26/2033

39,367

Amphenol

Corporation

39,000

4.750%, 

3/30/2026

38,306

Amsted

Industries,

Inc.

80,000

5.625%, 

7/1/2027

f

75,401

20,000

4.625%, 

5/15/2030

f

16,935

ARD

Finance

SA

23,000

6.500%, 

6/30/2027

f

17,352

Ardagh

Packaging

Finance

plc/

Ardagh

Holdings

USA,

Inc.

75,000

5.250%, 

8/15/2027

f

62,587

26,000

5.250%, 

8/15/2027

f

21,697

Boeing

Company

113,000

4.875%, 

5/1/2025

111,058

52,000

2.196%, 

2/4/2026

47,746

67,000

3.250%, 

3/1/2028

60,209

90,000

5.150%, 

5/1/2030

85,995

Bombardier,

Inc.

41,000

7.125%, 

6/15/2026

f

39,723

92,000

7.875%, 

4/15/2027

f

89,769

60,000

6.000%, 

2/15/2028

f

54,432

Brand

Industrial

Services,

Inc.

26,000

10.375%, 

8/1/2030

f

26,040

Builders

FirstSource,

Inc.

45,000

5.000%, 

3/1/2030

f

40,122

Canpack

SA/Canpack

US,

LLC

101,000

3.125%, 

11/1/2025

f

93,171

Carrier

Global

Corporation

75,000

2.722%, 

2/15/2030

62,503

Chart

Industries,

Inc.

87,000

7.500%, 

1/1/2030

f

87,477

Chart

Industries,

Inc.,

Convertible

94,000

1.000%, 

11/15/2024

272,976

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

24

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Capital

Goods

(1.3%)

-

continued

Clean

Harbors,

Inc.

$

116,000

6.375%, 

2/1/2031

f

$

112,795

Clydesdale

Acquisition

Holdings,

Inc.

10,000

6.625%, 

4/15/2029

f

9,298

20,000

8.750%, 

4/15/2030

f

17,153

Cornerstone

Building

Brands,

Inc.

50,000

6.125%, 

1/15/2029

f

37,905

Covanta

Holding

Corporation

53,000

4.875%, 

12/1/2029

f

43,481

CP

Atlas

Buyer,

Inc.

90,000

7.000%, 

12/1/2028

f,i

70,572

Crown

Cork

&

Seal

Company,

Inc.

65,000

7.375%, 

12/15/2026

65,975

Emerald

Debt

Merger

Sub,

LLC

142,000

6.625%, 

12/15/2030

f

136,700

Fluor

Corporation,

Convertible

247,000

1.125%, 

8/15/2029

f

255,275

GFL

Environmental,

Inc.

88,000

4.000%, 

8/1/2028

f

76,891

63,000

3.500%, 

9/1/2028

f

54,237

Greenbrier

Companies,

Inc.,

Convertible

168,000

2.875%, 

4/15/2028

158,256

H&E

Equipment

Services,

Inc.

155,000

3.875%, 

12/15/2028

f

132,354

Herc

Holdings,

Inc.

90,000

5.500%, 

7/15/2027

f

85,109

Howmet

Aerospace,

Inc.

61,000

6.750%, 

1/15/2028

61,426

192,000

3.000%, 

1/15/2029

162,520

Huntington

Ingalls

Industries,

Inc.

67,000

4.200%, 

5/1/2030

60,593

Ingersoll

Rand,

Inc.

20,000

5.700%, 

8/14/2033

19,302

John

Deere

Capital

Corporation

37,000

5.150%, 

9/8/2026

36,883

37,000

4.950%, 

7/14/2028

36,489

84,000

2.800%, 

7/18/2029

73,985

38,000

4.700%, 

6/10/2030

36,542

44,000

3.900%, 

6/7/2032

39,639

21,000

5.150%, 

9/8/2033

20,536

Kaman

Corporation,

Convertible

66,000

3.250%, 

5/1/2024

64,066

L3Harris

Technologies,

Inc.

36,000

5.400%, 

1/15/2027

35,687

Mauser

Packaging

Solutions

Holding

Company

43,000

9.250%, 

4/15/2027

f

37,586

MIWD

Holdco

II,

LLC

39,000

5.500%, 

2/1/2030

f

32,224

Mueller

Water

Products,

Inc.

49,000

4.000%, 

6/15/2029

f

42,674

Nesco

Holdings

II,

Inc.

75,000

5.500%, 

4/15/2029

f

65,813

New

Enterprise

Stone

and

Lime

Company,

Inc.

116,000

5.250%, 

7/15/2028

f

104,083

Northrop

Grumman

Corporation

22,000

4.700%, 

3/15/2033

20,540

OI

European

Group

BV

85,000

4.750%, 

2/15/2030

f

73,938

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Capital

Goods

(1.3%)

-

continued

Otis

Worldwide

Corporation

$

47,000

2.056%, 

4/5/2025

$

44,372

Owens-Brockway

Glass

Container,

Inc.

46,000

6.625%, 

5/13/2027

f

44,845

Pactiv

Evergreen

Group

55,000

4.375%, 

10/15/2028

f

47,721

Parker-Hannifin

Corporation

36,000

4.250%, 

9/15/2027

34,394

Patrick

Industries,

Inc.,

Convertible

66,000

1.750%, 

12/1/2028

62,271

PGT

Innovations,

Inc.

73,000

4.375%, 

10/1/2029

f

67,312

Republic

Services,

Inc.

37,000

3.950%, 

5/15/2028

34,729

Roller

Bearing

Company

of

America,

Inc.

65,000

4.375%, 

10/15/2029

f

55,911

Sealed

Air

Corporation

73,000

6.125%, 

2/1/2028

f

70,702

Silgan

Holdings,

Inc.

35,000

4.125%, 

2/1/2028

31,313

SRM

Escrow

Issuer,

LLC

113,000

6.000%, 

11/1/2028

f

104,351

Textron,

Inc.

67,000

3.650%, 

3/15/2027

62,555

Titan

Acquisition,

Ltd./Titan

Co-

Borrower,

LLC

30,000

7.750%, 

4/15/2026

f

29,400

TransDigm,

Inc.

110,000

6.250%, 

3/15/2026

f

108,084

248,000

5.500%, 

11/15/2027

232,215

Triumph

Group,

Inc.

75,000

9.000%, 

3/15/2028

f

74,160

United

Rentals

North

America,

Inc.

70,000

4.875%, 

1/15/2028

65,387

85,000

4.000%, 

7/15/2030

72,439

Veralto

Corporation

39,000

5.350%, 

9/18/2028

f

38,559

Waste

Connections,

Inc.

21,000

3.200%, 

6/1/2032

17,422

Waste

Management,

Inc.

36,000

4.875%, 

2/15/2029

35,201

Waste

Pro

USA,

Inc.

35,000

5.500%, 

2/15/2026

f

32,682

WESCO

Distribution,

Inc.

130,000

7.250%, 

6/15/2028

f

130,631

Total

5,326,531

Collateralized

Mortgage

Obligations

(3.6%)

A&D

Mortgage

Trust

591,717

6.733%, 

7/25/2068,

Ser.

2023-NQM3,

Class

A1

f,g

590,954

Banc

of

America

Alternative

Loan

Trust

199,895

6.000%, 

11/25/2035,

Ser.

2005-10,

Class

3CB1

167,063

Banc

of

America

Mortgage

Securities

Trust

26,583

5.127%, 

9/25/2035,

Ser.

2005-H,

Class

2A1

b

22,565

79,699

5.499%, 

9/25/2035,

Ser.

2005-H,

Class

3A1

b

71,789

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

25

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Collateralized

Mortgage

Obligations

(3.6%)

-

continued

Bear

Stearns

Adjustable

Rate

Mortgage

Trust

$

48,726

3.831%, 

1/25/2034,

Ser.

2003-8,

Class

5A

b

$

41,064

CAFL

Issuer,

LLC

350,000

2.239%, 

3/28/2029,

Ser.

2021-RTL1,

Class

A1

f

323,484

CHL

Mortgage

Pass-Through

Trust

99,056

4.063%, 

12/20/2035,

Ser.

2005-HYB8,

Class

3A1

b

94,244

229,353

6.000%, 

11/25/2037,

Ser.

2007-18,

Class

1A2

91,271

CHNGE

Mortgage

Trust

245,166

3.757%, 

3/25/2067,

Ser.

2022-2,

Class

A1

b,f

225,092

343,157

5.000%, 

5/25/2067,

Ser.

2022-3,

Class

A1

b,f

331,978

376,176

6.525%, 

6/25/2058,

Ser.

2023-2,

Class

A1

f,g

369,371

446,126

5.820%, 

6/25/2067,

Ser.

2022-NQM1,

Class

A3

f,g

429,309

379,427

7.100%, 

7/25/2058,

Ser.

2023-3,

Class

A1

f,g

377,309

494,862

6.000%, 

10/25/2057,

Ser.

2022-4,

Class

A1

f,g

481,684

CIM

Trust

468,975

7.100%, 

4/25/2058,

Ser.

2023-I1,

Class

A3

f,g

465,281

Citigroup

Mortgage

Loan

Trust,

Inc.

77,504

5.500%, 

8/25/2034,

Ser.

2004-NCM2,

Class

1CB1

66,869

181,124

4.259%, 

4/25/2037,

Ser.

2007-AR5,

Class

1A1A

b

154,546

Countrywide

Home

Loan

Mortgage

Pass

Through

Trust

398,147

3.728%, 

11/25/2035,

Ser.

2005-22,

Class

2A1

b

317,022

Credit

Suisse

Mortgage

Trust

322,432

6.567%, 

8/25/2067,

Ser.

2022-ATH3,

Class

A3

b,f

314,706

219,030

2.572%, 

11/25/2066,

Ser.

2022-NQM1,

Class

A2

b,f

173,313

Deutsche

Alt-A

Securities,

Inc.,

Mortgage

Loan

Trust

131,979

5.250%, 

6/25/2035,

Ser.

2005-3,

Class

4A6

114,479

84,636

3.604%, 

8/25/2035,

Ser.

2005-AR1,

Class

2A3

b

73,493

Eagle

RE,

Ltd.

350,000

9.265%, 

(SOFR30A

+

3.950%),

9/26/2033,

Ser.

2023-1,

Class

M1B

b,e,f

350,000

Federal

Home

Loan

Mortgage

Corporation

391,049

3.500%, 

8/15/2035,

Ser.

345,

Class

C8

j

42,246

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

634,770

4.000%, 

1/25/2051,

Ser.

5249,

Class

LA

598,864

445,881

Zero

Coupon, 

9/25/2053,

Ser.

5334,

Class

BO

331,819

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Collateralized

Mortgage

Obligations

(3.6%)

-

continued

$

197,157

3.000%, 

5/15/2027,

Ser.

4046,

Class

GI

j

$

6,202

283,762

3.500%, 

10/15/2032,

Ser.

4119,

Class

KI

j

27,754

336,468

3.000%, 

4/15/2033,

Ser.

4203,

Class

DI

j

17,010

Federal

National

Mortgage

Association

-

REMIC

393,412

4.500%, 

6/25/2052,

Ser.

2022-43,

Class

MA

374,854

470,646

4.000%, 

7/25/2052,

Ser.

2022-37,

Class

PE

442,712

248,533

3.000%, 

7/25/2027,

Ser.

2012-73,

Class

DI

j

8,158

210,994

3.000%, 

7/25/2027,

Ser.

2012-74,

Class

AI

j

7,133

370,662

3.000%, 

8/25/2027,

Ser.

2012-95,

Class

HI

j

9,779

545,274

3.000%, 

11/25/2027,

Ser.

2012-121,

Class

BI

j

21,766

477,611

3.000%, 

12/25/2027,

Ser.

2012-139,

Class

DI

j

17,511

159,846

2.500%, 

1/25/2028,

Ser.

2012-152,

Class

AI

j

5,519

424,285

3.000%, 

1/25/2028,

Ser.

2012-147,

Class

EI

j

13,979

193,580

3.000%, 

2/25/2028,

Ser.

2013-2,

Class

GI

j

7,721

508,996

3.000%, 

3/25/2028,

Ser.

2013-18,

Class

IL

j

15,841

188,762

2.500%, 

6/25/2028,

Ser.

2013-87,

Class

IW

j

7,255

230,457

3.000%, 

11/25/2031,

Ser.

2013-69,

Class

IO

j

6,281

300,376

3.000%, 

2/25/2033,

Ser.

2013-1,

Class

YI

j

25,668

369,789

4.500%, 

1/25/2046,

Ser.

2022-68,

Class

BA

357,441

Flagstar

Mortgage

Trust

153,769

2.500%, 

9/25/2041,

Ser.

2021-9INV,

Class

A1

b,f

127,645

GCAT

Trust

364,671

5.730%, 

8/25/2067,

Ser.

2022-NQM4,

Class

A3

f,g

353,228

Genworth

Mortgage

Insurance

Corporation

77,493

7.215%, 

(SOFR30A

+

1.900%),

2/25/2034,

Ser.

2021-3,

Class

M1A

b,f

77,596

GMAC

Mortgage

Corporation

Loan

Trust

73,928

3.530%, 

5/25/2035,

Ser.

2005-AR2,

Class

4A

b

59,846

GMACM

Mortgage

Loan

Trust

24,033

3.631%, 

11/19/2035,

Ser.

2005-AR6,

Class

1A1

b

21,478

GS

Mortgage-Backed

Securities

Trust

531,648

5.500%, 

10/27/2053,

Ser.

2023-PJ3,

Class

A16

b,f

513,435

Home

RE,

Ltd.

325,000

8.815%, 

(SOFR30A

+

3.500%),

10/25/2034,

Ser.

2022-1,

Class

M1B

b,f

331,271

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

26

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Collateralized

Mortgage

Obligations

(3.6%)

-

continued

IndyMac

INDA

Mortgage

Loan

Trust

$

530,348

3.803%, 

8/25/2036,

Ser.

2006-AR1,

Class

A1

b

$

424,331

J.P.

Morgan

Mortgage

Trust

208,299

2.774%, 

5/25/2052,

Ser.

2021-LTV2,

Class

A2

b,f

162,002

554,282

5.000%, 

10/25/2053,

Ser.

2023-3,

Class

A4A

b,f

526,784

86,846

4.198%, 

2/25/2036,

Ser.

2006-A1,

Class

2A2

b

65,410

LHOME

Mortgage

Trust

92,802

2.090%, 

2/25/2026,

Ser.

2021-RTL1,

Class

A1

b,f

92,333

Merrill

Lynch

Alternative

Note

Asset

Trust

249,734

6.000%, 

3/25/2037,

Ser.

2007-F1,

Class

2A1

94,766

MortgageIT

Trust

588,434

5.894%, 

(TSFR1M

+

0.574%),

6/25/2047,

Ser.

2007-1,

Class

1A1

b

471,717

Onslow

Bay

Mortgage

Loan

Trust

307,875

5.700%, 

8/25/2062,

Ser.

2022-NQM7,

Class

A3

f,g

298,806

PRKCM

Trust

474,459

7.087%, 

6/25/2058,

Ser.

2023-AFC2,

Class

A3

f

471,570

Residential

Accredit

Loans,

Inc.

Trust

86,241

6.000%, 

8/25/2035,

Ser.

2005-QS10,

Class

2A

71,180

79,634

6.000%, 

1/25/2037,

Ser.

2007-QS1,

Class

1A1

59,655

Residential

Asset

Securitization

Trust

109,328

3.785%, 

1/25/2034,

Ser.

2004-IP1,

Class

A1

b

99,489

Residential

Funding

Mortgage

Security

I

Trust

148,628

6.000%, 

7/25/2037,

Ser.

2007-S7,

Class

A20

110,547

ROC

Securities

Trust

Series

675,000

2.487%, 

8/25/2026,

Ser.

2021-RTL1,

Class

A1

b,f

656,778

Structured

Adjustable

Rate

Mortgage

Loan

Trust

52,373

4.570%, 

7/25/2035,

Ser.

2005-15,

Class

4A1

b

43,981

TVC

Mortgage

Trust

300,000

8.250%, 

11/25/2027,

Ser.

2023-RTL1,

Class

A1

f

298,992

Verus

Securitization

Trust

284,913

2.491%, 

11/25/2066,

Ser.

2021-8,

Class

A3

b,f

230,928

585,455

6.560%, 

12/25/2067,

Ser.

2023-1,

Class

A2

f,g

580,708

Total

14,236,875

Commercial

Mortgage-Backed

Securities

(0.4%)

BANK5

2023-5YR1

475,000

6.625%, 

4/15/2056,

Ser.

2023-5YR1,

Class

AS

b

468,252

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Commercial

Mortgage-Backed

Securities

(0.4%)

-

continued

BBCMS

Mortgage

Trust

$

2,245,227

1.325%, 

9/15/2055,

Ser.

2022-C17,

Class

XA

b,j

$

169,375

BFLD

Trust

225,000

7.147%, 

(TSFR1M

+

1.814%),

10/15/2035,

Ser.

2020-EYP,

Class

B

b,f

132,471

Federal

Home

Loan

Mortgage

Corporation

Multifamily

Structured

Pass

Through

Certificates

300,000

4.200%, 

5/25/2033,

Ser.

K-157,

Class

A2

h

275,921

GS

Mortgage

Securities

Trust

150,000

7.047%, 

(TSFR1M

+

1.714%),

5/15/2026,

Ser.

2021-ROSS,

Class

B

b,f

126,166

MSWF

Commercial

Mortgage

Trust

300,000

5.752%, 

5/15/2033,

Ser.

2023-1,

Class

A5

295,481

SCOTT

Trust

225,000

5.910%, 

3/15/2040,

Ser.

2023-SFS,

Class

A

f

218,091

Silver

Hill

Trust

61,387

3.102%, 

11/25/2049,

Ser.

2019-1,

Class

A1

b,f

57,797

Total

1,743,554

Communications

Services

(1.5%)

Allen

Media,

LLC/Allen

Media

Co-

Issuer,

Inc.

64,000

10.500%, 

2/15/2028

f

36,606

Altice

Financing

SA

30,000

5.750%, 

8/15/2029

f

24,586

Altice

France

SA/France

85,000

8.125%, 

2/1/2027

f

75,378

75,000

5.125%, 

7/15/2029

f

53,318

70,000

5.500%, 

10/15/2029

f

50,338

AMC

Networks,

Inc.

30,000

5.000%, 

4/1/2024

29,586

112,000

4.250%, 

2/15/2029

68,723

American

Tower

Corporation

73,000

4.400%, 

2/15/2026

70,678

44,000

1.450%, 

9/15/2026

38,777

59,000

5.500%, 

3/15/2028

57,884

41,000

5.800%, 

11/15/2028

40,691

57,000

3.800%, 

8/15/2029

50,702

AT&T,

Inc.

131,000

4.300%, 

2/15/2030

119,289

41,000

5.400%, 

2/15/2034

38,372

Bell

Telephone

Company

of

Canada

40,000

5.100%, 

5/11/2033

37,392

Cable

One,

Inc.,

Convertible

255,000

1.125%, 

3/15/2028

189,720

CCO

Holdings,

LLC/CCO

Holdings

Capital

Corporation

62,000

5.500%, 

5/1/2026

f

59,887

150,000

5.125%, 

5/1/2027

f

139,757

57,000

5.000%, 

2/1/2028

f

51,764

31,000

6.375%, 

9/1/2029

f

28,906

64,000

4.250%, 

2/1/2031

f

50,946

246,000

4.750%, 

2/1/2032

f

196,800

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

27

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Communications

Services

(1.5%)

-

continued

$

63,000

4.250%, 

1/15/2034

f

$

46,385

Cengage

Learning,

Inc.

4,000

9.500%, 

6/15/2024

f

4,003

CenterPoint

Energy,

Inc.,

Convertible

5,600

3.369%, 

9/15/2029

225,848

Charter

Communications

Operating,

LLC/Charter

Communications

Operating

Capital

Corporation

78,000

4.908%, 

7/23/2025

76,218

67,000

5.050%, 

3/30/2029

62,628

Cimpress

plc

58,000

7.000%, 

6/15/2026

54,283

Clear

Channel

Outdoor

Holdings,

Inc.

17,000

7.500%, 

6/1/2029

f,i

12,999

Clear

Channel

Worldwide

Holdings,

Inc.

136,000

5.125%, 

8/15/2027

f

120,767

Comcast

Corporation

45,000

2.350%, 

1/15/2027

40,757

95,000

3.400%, 

4/1/2030

83,796

Connect

Finco

SARL/Connect

US

Finco,

LLC

45,000

6.750%, 

10/1/2026

f

41,971

Crown

Castle,

Inc.

61,000

2.900%, 

3/15/2027

55,328

CSC

Holdings,

LLC

175,000

5.375%, 

2/1/2028

f

142,470

88,000

6.500%, 

2/1/2029

f

72,902

53,000

4.125%, 

12/1/2030

f

37,509

Deutsche

Telekom

International

Finance

BV

113,000

8.750%, 

6/15/2030

129,435

DIRECTV

Financing,

LLC/DIRECTV

Financing

Co-Obligor,

Inc.

151,000

5.875%, 

8/15/2027

f

133,511

DISH

DBS

Corporation

26,000

5.875%, 

11/15/2024

24,200

34,000

5.250%, 

12/1/2026

f

28,895

25,000

7.375%, 

7/1/2028

15,752

45,000

5.750%, 

12/1/2028

f

34,594

39,000

5.125%, 

6/1/2029

21,621

DISH

Network

Corporation

67,000

11.750%, 

11/15/2027

f

67,500

Frontier

Communications

Holdings,

LLC

104,000

5.875%, 

10/15/2027

f

94,585

30,000

6.750%, 

5/1/2029

f,i

23,081

18,000

8.750%, 

5/15/2030

f

17,091

GCI,

LLC

74,000

4.750%, 

10/15/2028

f

63,825

Gray

Escrow

II,

Inc.

105,000

5.375%, 

11/15/2031

f

68,716

Gray

Television,

Inc.

105,000

4.750%, 

10/15/2030

f,i

69,559

Hughes

Satellite

Systems

Corporation

40,000

6.625%, 

8/1/2026

i

34,200

Iliad

Holding

SASU

91,000

6.500%, 

10/15/2026

f

85,496

Lamar

Media

Corporation

41,000

3.625%, 

1/15/2031

33,389

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Communications

Services

(1.5%)

-

continued

LCPR

Senior

Secured

Financing

DAC

$

54,000

6.750%, 

10/15/2027

f

$

49,599

Level

3

Financing,

Inc.

114,000

4.625%, 

9/15/2027

f

81,985

100,000

4.250%, 

7/1/2028

f

62,303

36,000

10.500%, 

5/15/2030

f

36,237

McGraw-Hill

Education,

Inc.

63,000

5.750%, 

8/1/2028

f

54,353

6,000

8.000%, 

8/1/2029

f

5,205

Meta

Platforms,

Inc.

40,000

4.600%, 

5/15/2028

39,129

41,000

4.800%, 

5/15/2030

39,936

News

Corporation

84,000

3.875%, 

5/15/2029

f

72,240

NTT

Finance

Corporation

54,000

1.162%, 

4/3/2026

f

48,470

Outfront

Media

Capital,

LLC/

Outfront

Media

Capital

Corporation

48,000

6.250%, 

6/15/2025

f

47,027

35,000

4.625%, 

3/15/2030

f,i

27,514

Paramount

Global

75,000

6.375%, 

3/30/2062

b

58,906

36,000

4.750%, 

5/15/2025

35,015

Playtika

Holding

Corporation

61,000

4.250%, 

3/15/2029

f

50,935

Radiate

Holdco,

LLC/Radiate

Finance,

Inc.

40,000

6.500%, 

9/15/2028

f

21,000

Rogers

Communications,

Inc.

50,000

5.250%, 

3/15/2082

b,f

44,214

Scripps

Escrow

II,

Inc.

35,000

3.875%, 

1/15/2029

f

26,321

Sirius

XM

Radio,

Inc.

85,000

5.000%, 

8/1/2027

f

77,639

50,000

4.000%, 

7/15/2028

f

42,678

35,000

4.125%, 

7/1/2030

f

28,021

Sprint

Capital

Corporation

89,000

6.875%, 

11/15/2028

91,892

61,000

8.750%, 

3/15/2032

70,568

TEGNA,

Inc.

117,000

4.625%, 

3/15/2028

101,205

Telecom

Italia

Capital

SA

26,000

6.000%, 

9/30/2034

21,678

Telecom

Italia

SPA/Milano

36,000

5.303%, 

5/30/2024

f

35,395

Telesat

Canada/Telesat,

LLC

35,000

4.875%, 

6/1/2027

f

22,680

15,000

6.500%, 

10/15/2027

f

7,650

T-Mobile

USA,

Inc.

59,000

3.500%, 

4/15/2025

56,930

77,000

3.375%, 

4/15/2029

67,725

United

States

Cellular

Corporation

60,000

6.700%, 

12/15/2033

58,350

Uniti

Group,

LP/Uniti

Group

Finance,

Inc./CSL

Capital,

LLC

98,000

4.750%, 

4/15/2028

f

80,025

Univision

Communications,

Inc.

89,000

6.625%, 

6/1/2027

f

82,888

Verizon

Communications,

Inc.

73,000

2.100%, 

3/22/2028

62,703

67,000

3.150%, 

3/22/2030

57,187

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

28

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Communications

Services

(1.5%)

-

continued

$

97,000

2.550%, 

3/21/2031

$

77,235

88,000

2.355%, 

3/15/2032

67,140

Vodafone

Group

plc

62,000

7.000%, 

4/4/2079

b

61,579

VTR

Finance

NV

50,000

6.375%, 

7/15/2028

f

18,662

VZ

Secured

Financing

BV

97,000

5.000%, 

1/15/2032

f

76,199

Walt

Disney

Company

37,000

3.800%, 

3/22/2030

33,561

Warnermedia

Holdings,

Inc.

42,000

3.638%, 

3/15/2025

40,509

106,000

4.054%, 

3/15/2029

94,442

YPSO

Finance

BIS

SA

32,000

10.500%, 

5/15/2027

f

19,958

Total

5,788,302

Consumer

Cyclical

(2.2%)

1011778

B.C.,

ULC/New

Red

Finance,

Inc.

135,000

4.375%, 

1/15/2028

f

121,682

Adient

Global

Holdings,

Ltd.

49,000

4.875%, 

8/15/2026

f

46,214

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation

35,000

6.625%, 

7/15/2026

f

33,164

35,000

6.000%, 

6/1/2029

f

26,092

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation/

Atlas

Luxco

4

SARL

100,000

4.625%, 

6/1/2028

f

83,336

50,000

4.625%, 

6/1/2028

f

41,510

Allison

Transmission,

Inc.

48,000

3.750%, 

1/30/2031

f

38,803

Amazon.com,

Inc.

45,000

1.500%, 

6/3/2030

35,625

77,000

4.700%, 

12/1/2032

73,517

American

Axle

&

Manufacturing,

Inc.

127,000

6.500%, 

4/1/2027

120,578

American

Honda

Finance

Corporation

41,000

4.600%, 

4/17/2030

38,891

Arko

Corporation

46,000

5.125%, 

11/15/2029

f

37,101

Ashton

Woods

USA,

LLC/Ashton

Woods

Finance

Company

45,000

4.625%, 

8/1/2029

f

37,974

43,000

4.625%, 

4/1/2030

f

35,200

Best

Buy

Company,

Inc.

45,000

1.950%, 

10/1/2030

35,087

Bloomin'

Brands,

Inc.,

Convertible

26,000

5.000%, 

5/1/2025

56,924

Booking

Holdings,

Inc.,

Convertible

77,000

0.750%, 

5/1/2025

128,590

Boyd

Gaming

Corporation

65,000

4.750%, 

6/15/2031

f

55,313

Boyne

USA,

Inc.

33,000

4.750%, 

5/15/2029

f

28,864

Brookfield

Residential

Properties,

Inc./Brookfield

Residential

US,

LLC

75,000

6.250%, 

9/15/2027

f

67,524

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Consumer

Cyclical

(2.2%)

-

continued

Burlington

Stores,

Inc.,

Convertible

$

136,000

2.250%, 

4/15/2025

$

131,838

Caesars

Entertainment,

Inc.

115,000

6.250%, 

7/1/2025

f

113,426

35,000

8.125%, 

7/1/2027

f

35,167

73,000

4.625%, 

10/15/2029

f

61,835

Carnival

Corporation

70,000

7.625%, 

3/1/2026

f

68,095

116,000

5.750%, 

3/1/2027

f

105,006

30,000

4.000%, 

8/1/2028

f

26,012

Cedar

Fair,

LP

83,000

5.250%, 

7/15/2029

72,135

Churchill

Downs,

Inc.

45,000

4.750%, 

1/15/2028

f

40,592

35,000

6.750%, 

5/1/2031

f

33,075

Cinemark

USA,

Inc.

97,000

5.875%, 

3/15/2026

f

93,132

Clarios

Global,

LP/Clarios

US

Finance

Company,

Inc.

35,000

8.500%, 

5/15/2027

f,i

34,900

100,000

6.750%, 

5/15/2028

f

97,625

Cracker

Barrel

Old

Country

Store,

Inc.,

Convertible

7,000

0.625%, 

6/15/2026

5,779

D.R.

Horton,

Inc.

16,000

2.600%, 

10/15/2025

14,971

Expedia

Group,

Inc.

67,000

3.250%, 

2/15/2030

56,669

Expedia

Group,

Inc.,

Convertible

264,000

Zero

Coupon, 

2/15/2026

229,363

Ford

Motor

Company

206,000

3.250%, 

2/12/2032

158,757

65,000

6.100%, 

8/19/2032

61,224

Ford

Motor

Company,

Convertible

302,000

Zero

Coupon, 

3/15/2026

296,715

Ford

Motor

Credit

Company,

LLC

47,000

2.300%, 

2/10/2025

44,084

190,000

4.134%, 

8/4/2025

180,136

137,000

2.700%, 

8/10/2026

122,254

76,000

2.900%, 

2/10/2029

62,373

45,000

7.350%, 

3/6/2030

45,570

Forestar

Group,

Inc.

45,000

3.850%, 

5/15/2026

f

40,846

General

Motors

Company

67,000

6.800%, 

10/1/2027

68,374

General

Motors

Financial

Company,

Inc.

68,000

3.950%, 

4/13/2024

67,089

50,000

1.200%, 

10/15/2024

47,522

130,000

2.900%, 

2/26/2025

124,028

35,000

2.750%, 

6/20/2025

32,949

61,000

5.800%, 

6/23/2028

59,592

Goodyear

Tire

&

Rubber

Company

45,000

5.000%, 

7/15/2029

38,759

Guitar

Center

Escrow

Issuer

II,

Inc.

22,000

8.500%, 

1/15/2026

f,i

19,107

Hanesbrands,

Inc.

64,000

4.875%, 

5/15/2026

f,i

58,673

Hilton

Domestic

Operating

Company,

Inc.

111,000

4.875%, 

1/15/2030

101,019

29,000

3.625%, 

2/15/2032

f

23,380

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

29

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Consumer

Cyclical

(2.2%)

-

continued

Hilton

Grand

Vacations

Borrower

Escrow,

LLC/Hilton

Grand

Vacations

Borrower

Escrow,

Inc.

$

56,000

5.000%, 

6/1/2029

f

$

48,577

Home

Depot,

Inc.

62,000

3.250%, 

4/15/2032

53,193

Hyatt

Hotels

Corporation

37,000

5.750%, 

1/30/2027

36,763

Hyundai

Capital

America

27,000

5.500%, 

3/30/2026

f

26,646

67,000

3.000%, 

2/10/2027

f

60,702

45,000

2.100%, 

9/15/2028

f

37,338

International

Game

Technology

plc

120,000

5.250%, 

1/15/2029

f

110,581

Jacobs

Entertainment,

Inc.

39,000

6.750%, 

2/15/2029

f

34,612

Jaguar

Land

Rover

Automotive

plc

92,000

5.500%, 

7/15/2029

f

78,660

KB

Home

60,000

4.800%, 

11/15/2029

52,800

Kohl's

Corporation

38,000

4.625%, 

5/1/2031

25,538

L

Brands,

Inc.

135,000

6.625%, 

10/1/2030

f

126,564

20,000

6.875%, 

11/1/2035

17,862

Lennar

Corporation

34,000

4.750%, 

5/30/2025

33,262

Light

&

Wonder

International,

Inc.

110,000

7.250%, 

11/15/2029

f

107,800

Live

Nation

Entertainment,

Inc.,

Convertible

168,000

2.000%, 

2/15/2025

171,102

211,000

3.125%, 

1/15/2029

f

218,807

Lowe's

Companies,

Inc.

100,000

4.500%, 

4/15/2030

93,311

Macy's

Retail

Holdings,

LLC

65,000

5.875%, 

4/1/2029

f

56,913

Marriott

International,

Inc./MD

40,000

4.900%, 

4/15/2029

38,138

67,000

4.625%, 

6/15/2030

61,718

Marriott

Vacations

Worldwide

Corporation,

Convertible

126,000

Zero

Coupon, 

1/15/2026

110,313

131,000

3.250%, 

12/15/2027

f

114,297

Mattamy

Group

Corporation

55,000

5.250%, 

12/15/2027

f

50,195

McDonald's

Corporation

39,000

4.950%, 

8/14/2033

37,201

Mercedes-Benz

Finance

North

America,

LLC

68,000

1.450%, 

3/2/2026

f

61,652

45,000

5.200%, 

8/3/2026

f

44,545

Michaels

Companies,

Inc.

47,000

5.250%, 

5/1/2028

f,i

37,511

NCL

Corporation,

Ltd.

32,000

3.625%, 

12/15/2024

f

30,730

21,000

5.875%, 

3/15/2026

f

19,388

56,000

5.875%, 

2/15/2027

f

53,254

Nissan

Motor

Company,

Ltd.

30,000

3.522%, 

9/17/2025

f

28,334

32,000

4.345%, 

9/17/2027

f

29,210

39,000

4.810%, 

9/17/2030

f

33,637

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Consumer

Cyclical

(2.2%)

-

continued

Nordstrom,

Inc.

$

28,000

4.375%, 

4/1/2030

i

$

21,540

39,000

4.250%, 

8/1/2031

i

28,284

O'Reilly

Automotive,

Inc.

59,000

3.900%, 

6/1/2029

54,322

PENN

Entertainment,

Inc.

70,000

4.125%, 

7/1/2029

f

57,203

PetSmart,

Inc./PetSmart

Finance

Corporation

120,000

4.750%, 

2/15/2028

f

105,053

64,000

7.750%, 

2/15/2029

f

59,641

Prime

Security

Services

Borrower,

LLC/Prime

Finance,

Inc.

125,000

5.750%, 

4/15/2026

f

121,271

170,000

6.250%, 

1/15/2028

f,i

157,449

Realogy

Group,

LLC/Realogy

Group

Co-Issuer

Corporation

110,000

5.750%, 

1/15/2029

f

79,525

Royal

Caribbean

Cruises,

Ltd.

11,000

11.500%, 

6/1/2025

f

11,612

139,000

4.250%, 

7/1/2026

f

127,448

47,000

9.250%, 

1/15/2029

f

49,653

28,000

7.250%, 

1/15/2030

f

27,751

Scientific

Games

Holdings,

LP/

Scientific

Games

US

FinCo,

Inc.

16,000

6.625%, 

3/1/2030

f

13,800

SeaWorld

Parks

and

Entertainment,

Inc.

53,000

5.250%, 

8/15/2029

f

46,555

Six

Flags

Theme

Parks,

Inc.

25,000

7.000%, 

7/1/2025

f

24,937

Staples,

Inc.

56,000

7.500%, 

4/15/2026

f

46,051

37,000

10.750%, 

4/15/2027

f,i

21,721

Station

Casinos,

LLC

53,000

4.625%, 

12/1/2031

f

42,394

Tapestry,

Inc.

41,000

3.050%, 

3/15/2032

30,035

Target

Corporation

82,000

2.350%, 

2/15/2030

68,530

Tenneco,

Inc.

55,000

8.000%, 

11/17/2028

f

44,756

Toyota

Motor

Credit

Corporation

39,000

4.700%, 

1/12/2033

36,853

Tractor

Supply

Company

41,000

5.250%, 

5/15/2033

38,714

Tripadvisor,

Inc.

15,000

7.000%, 

7/15/2025

f

14,971

Uber

Technologies,

Inc.

60,000

6.250%, 

1/15/2028

f

58,672

Uber

Technologies,

Inc.,

Convertible

212,000

Zero

Coupon, 

12/15/2025

197,778

Vail

Resorts,

Inc.,

Convertible

223,000

Zero

Coupon, 

1/1/2026

196,240

VICI

Properties,

LP/VICI

Note

Company,

Inc.

62,000

4.625%, 

6/15/2025

f

59,873

150,000

5.750%, 

2/1/2027

f

145,210

104,000

3.750%, 

2/15/2027

f

94,371

Viking

Cruises,

Ltd.

113,000

5.875%, 

9/15/2027

f

103,135

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

30

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Consumer

Cyclical

(2.2%)

-

continued

Volkswagen

Group

of

America

Finance,

LLC

$

82,000

4.250%, 

11/13/2023

f

$

81,828

17,000

3.350%, 

5/13/2025

f

16,291

Wabash

National

Corporation

73,000

4.500%, 

10/15/2028

f

61,492

Walmart,

Inc.

60,000

4.000%, 

4/15/2030

56,352

Wyndham

Hotels

&

Resorts,

Inc.

35,000

4.375%, 

8/15/2028

f

31,436

Yum!

Brands,

Inc.

105,000

4.750%, 

1/15/2030

f

94,313

ZF

North

America

Capital,

Inc.

48,000

7.125%, 

4/14/2030

f

47,029

Total

8,729,303

Consumer

Non-Cyclical

(2.0%)

1375209

B.C.,

Ltd.

58,000

9.000%, 

1/30/2028

f,i

57,331

Abbott

Laboratories

150,000

1.400%, 

6/30/2030

119,179

AbbVie,

Inc.

223,000

3.600%, 

5/14/2025

215,519

AdaptHealth,

LLC

46,000

4.625%, 

8/1/2029

f

35,305

Albertsons

Companies,

Inc./

Safeway,

Inc./New

Albertsons,

LP/Albertsons,

LLC

94,000

4.625%, 

1/15/2027

f

88,756

168,000

3.500%, 

3/15/2029

f

143,234

Amgen,

Inc.

60,000

5.150%, 

3/2/2028

59,010

102,000

5.250%, 

3/2/2030

99,653

Anheuser-Busch

InBev

Worldwide,

Inc.

82,000

4.000%, 

4/13/2028

77,596

90,000

4.750%, 

1/23/2029

87,261

Archer-Daniels-Midland

Company

41,000

4.500%, 

8/15/2033

38,110

AstraZeneca

Finance,

LLC

90,000

1.750%, 

5/28/2028

77,036

B&G

Foods,

Inc.

63,000

5.250%, 

4/1/2025

61,823

31,000

5.250%, 

9/15/2027

25,962

44,000

8.000%, 

9/15/2028

f

44,060

BAT

Capital

Corporation

45,000

6.343%, 

8/2/2030

44,324

43,000

7.750%, 

10/19/2032

45,420

Bausch

&

Lomb

Escrow

Corporation

16,000

8.375%, 

10/1/2028

f

16,048

Bausch

Health

Companies,

Inc.

27,000

5.500%, 

11/1/2025

f,i

23,911

141,000

4.875%, 

6/1/2028

f

80,185

41,000

11.000%, 

9/30/2028

f

27,816

Becton,

Dickinson

and

Company

38,000

4.693%, 

2/13/2028

36,840

67,000

2.823%, 

5/20/2030

56,407

BellRing

Brands,

Inc.

49,000

7.000%, 

3/15/2030

f

48,248

BioMarin

Pharmaceutical,

Inc.,

Convertible

180,000

1.250%, 

5/15/2027

i

178,308

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Consumer

Non-Cyclical

(2.0%)

-

continued

Bio-Rad

Laboratories,

Inc.

$

61,000

3.300%, 

3/15/2027

$

56,220

Cargill,

Inc.

79,000

2.125%, 

11/10/2031

f

61,526

Catalent

Pharma

Solutions,

Inc.

58,000

3.125%, 

2/15/2029

f,i

47,571

Central

Garden

&

Pet

Company

115,000

4.125%, 

10/15/2030

95,877

Cheplapharm

Arzneimittel

GmbH

10,000

5.500%, 

1/15/2028

f

9,073

Chobani,

LLC/Chobani

Finance

Corporation,

Inc.

71,000

4.625%, 

11/15/2028

f

62,621

CHS/Community

Health

Systems,

Inc.

64,000

5.625%, 

3/15/2027

f

54,894

19,000

8.000%, 

12/15/2027

f,i

17,717

84,000

6.000%, 

1/15/2029

f

67,837

39,000

5.250%, 

5/15/2030

f

29,647

37,000

4.750%, 

2/15/2031

f

26,186

Cigna

Group

58,000

2.400%, 

3/15/2030

47,625

Constellation

Brands,

Inc.

90,000

3.150%, 

8/1/2029

78,852

16,000

4.900%, 

5/1/2033

14,850

Coty,

Inc./HFC

Prestige

Products,

Inc./HFC

Prestige

International

US,

LLC

86,000

4.750%, 

1/15/2029

f

77,552

58,000

6.625%, 

7/15/2030

f

56,628

CVS

Health

Corporation

41,000

5.000%, 

2/20/2026

40,364

35,000

4.300%, 

3/25/2028

33,124

41,000

5.125%, 

2/21/2030

39,435

41,000

5.300%, 

6/1/2033

38,834

Diageo

Capital

plc

45,000

2.000%, 

4/29/2030

36,506

Edgewell

Personal

Care

Company

50,000

5.500%, 

6/1/2028

f

46,187

Eli

Lilly

&

Company

82,000

4.700%, 

2/27/2033

78,939

Embecta

Corporation

23,000

6.750%, 

2/15/2030

f

18,802

Encompass

Health

Corporation

117,000

4.500%, 

2/1/2028

i

106,601

Energizer

Holdings,

Inc.

35,000

4.750%, 

6/15/2028

f

30,229

85,000

4.375%, 

3/31/2029

f

70,937

Envista

Holdings

Corporation,

Convertible

27,000

1.750%, 

8/15/2028

24,867

Fortrea

Holdings,

Inc.

23,000

7.500%, 

7/1/2030

f

22,379

General

Mills,

Inc.

16,000

4.950%, 

3/29/2033

14,992

Gilead

Sciences,

Inc.

46,000

5.250%, 

10/15/2033

44,869

Grifols

SA

81,000

4.750%, 

10/15/2028

f

69,061

HLF

Financing

SARL,

LLC/

Herbalife

International,

Inc.

124,000

4.875%, 

6/1/2029

f

88,040

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

31

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Consumer

Non-Cyclical

(2.0%)

-

continued

Imperial

Brands

Finance

plc

$

34,000

3.125%, 

7/26/2024

f

$

33,133

Integer

Holdings

Corporation,

Convertible

185,000

2.125%, 

2/15/2028

f

201,002

Jazz

Investments

I,

Ltd.,

Convertible

223,000

2.000%, 

6/15/2026

227,042

Jazz

Securities

DAC

46,000

4.375%, 

1/15/2029

f

40,107

JBS

USA

LUX

SA/JBS

USA

Food

Company/JBS

Luxembourg

SARL

42,000

6.750%, 

3/15/2034

f

40,866

JBS

USA

LUX

SA/JBS

USA

Food

Company/JBS

USA

Finance,

Inc.

107,000

2.500%, 

1/15/2027

94,515

52,000

3.625%, 

1/15/2032

41,403

Kenvue,

Inc.

78,000

5.350%, 

3/22/2026

f

77,815

20,000

5.000%, 

3/22/2030

f

19,486

Keurig

Dr.

Pepper,

Inc.

70,000

3.200%, 

5/1/2030

60,366

Kraft

Heinz

Foods

Company

65,000

3.875%, 

5/15/2027

61,235

41,000

6.750%, 

3/15/2032

43,298

Kroger

Company

37,000

4.500%, 

1/15/2029

35,147

Lamb

Weston

Holdings,

Inc.

42,000

4.125%, 

1/31/2030

f

35,916

Legacy

LifePoint

Health,

LLC

35,000

4.375%, 

2/15/2027

f

30,100

LifePoint

Health,

Inc.

34,000

11.000%, 

10/15/2030

f

34,000

Mattel,

Inc.

124,000

3.375%, 

4/1/2026

f

114,663

McKesson

Corporation

35,000

0.900%, 

12/3/2025

31,620

59,000

1.300%, 

8/15/2026

52,502

Medtronic

Global

Holdings

SCA

41,000

4.500%, 

3/30/2033

38,194

ModivCare

Escrow

Issuer,

Inc.

27,000

5.000%, 

10/1/2029

f

19,372

ModivCare,

Inc.

22,000

5.875%, 

11/15/2025

f

20,912

Mozart

Debt

Merger

Sub,

Inc.

89,000

3.875%, 

4/1/2029

f

75,243

48,000

5.250%, 

10/1/2029

f,i

41,486

Mylan,

Inc.

34,000

4.200%, 

11/29/2023

33,893

Nestle

Holdings,

Inc.

82,000

4.950%, 

3/14/2030

f

80,554

Newell

Brands,

Inc.

104,000

4.700%, 

4/1/2026

98,009

Organon

&

Company/Organon

Foreign

Debt

Co-Issuer

BV

96,000

4.125%, 

4/30/2028

f

83,415

48,000

5.125%, 

4/30/2031

f

38,465

Owens

&

Minor,

Inc.

78,000

6.625%, 

4/1/2030

f,i

69,232

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Consumer

Non-Cyclical

(2.0%)

-

continued

Perrigo

Finance

Unlimited

Company

$

84,000

4.375%, 

3/15/2026

$

78,542

Pfizer

Investment

Enterprises

Pte,

Ltd.

55,000

4.450%, 

5/19/2026

53,730

40,000

4.750%, 

5/19/2033

37,811

Philip

Morris

International,

Inc.

123,000

4.875%, 

2/13/2026

120,981

82,000

4.875%, 

2/15/2028

79,440

43,000

5.625%, 

11/17/2029

42,512

43,000

5.750%, 

11/17/2032

41,956

Post

Holdings,

Inc.

56,000

4.500%, 

9/15/2031

f

46,608

Post

Holdings,

Inc.,

Convertible

118,000

2.500%, 

8/15/2027

116,997

Primo

Water

Holdings,

Inc.

85,000

4.375%, 

4/30/2029

f

72,675

Procter

&

Gamble

Company

37,000

1.200%, 

10/29/2030

28,639

RegionalCare

Hospital

Partners

Holdings,

Inc./LifePoint

Health,

Inc.

35,000

9.750%, 

12/1/2026

f

33,884

Roche

Holdings,

Inc.

45,000

1.930%, 

12/13/2028

f

38,424

62,000

2.076%, 

12/13/2031

f

48,923

Royalty

Pharma

plc

105,000

1.200%, 

9/2/2025

95,419

Scotts

Miracle-Gro

Company

32,000

4.500%, 

10/15/2029

26,161

SEG

Holding,

LLC

125,000

5.625%, 

10/15/2028

f

125,312

Simmons

Foods,

Inc.

63,000

4.625%, 

3/1/2029

f

51,680

Spectrum

Brands,

Inc.

50,000

5.000%, 

10/1/2029

f

45,305

40,000

5.500%, 

7/15/2030

f

36,268

65,000

3.875%, 

3/15/2031

f

52,736

Star

Parent,

Inc.

55,000

9.000%, 

10/1/2030

f

55,578

Stryker

Corporation

73,000

3.650%, 

3/7/2028

68,105

Sysco

Corporation

38,000

5.950%, 

4/1/2030

38,315

Takeda

Pharmaceutical

Company,

Ltd.

89,000

5.000%, 

11/26/2028

87,100

Teleflex,

Inc.

120,000

4.625%, 

11/15/2027

110,100

25,000

4.250%, 

6/1/2028

f

22,364

Tenet

Healthcare

Corporation

222,000

5.125%, 

11/1/2027

206,601

71,000

6.125%, 

10/1/2028

i

66,651

68,000

6.750%, 

5/15/2031

f

65,584

Teva

Pharmaceutical

Finance

Netherlands

III

BV

62,000

3.150%, 

10/1/2026

55,259

Topgolf

Callaway

Brands

Corporation,

Convertible

44,000

2.750%, 

5/1/2026

45,650

TreeHouse

Foods,

Inc.

78,000

4.000%, 

9/1/2028

i

63,278

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

32

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Consumer

Non-Cyclical

(2.0%)

-

continued

Unilever

Capital

Corporation

$

50,000

5.000%, 

12/8/2033

$

48,421

Winnebago

Industries,

Inc.,

Convertible

99,000

1.500%, 

4/1/2025

110,682

Wyeth,

LLC

99,000

6.500%, 

2/1/2034

106,473

Zoetis,

Inc.

62,000

5.600%, 

11/16/2032

61,717

Total

7,755,056

Energy

(1.6%)

Antero

Midstream

Partners,

LP/

Antero

Midstream

Finance

Corporation

21,000

5.375%, 

6/15/2029

f

19,227

Antero

Resources

Corporation

31,000

5.375%, 

3/1/2030

f

28,541

Archrock

Partners,

LP/Archrock

Partners

Finance

Corporation

115,000

6.250%, 

4/1/2028

f

107,068

Baytex

Energy

Corporation

57,000

8.500%, 

4/30/2030

f

57,674

BP

Capital

Markets

America,

Inc.

107,000

4.234%, 

11/6/2028

101,742

61,000

4.812%, 

2/13/2033

57,089

BP

Capital

Markets

plc

91,000

4.875%, 

3/22/2030

b,k

81,302

Buckeye

Partners,

LP

70,000

3.950%, 

12/1/2026

62,859

Callon

Petroleum

Company

45,000

7.500%, 

6/15/2030

f,i

43,631

Cheniere

Energy

Partners,

LP

45,000

4.500%, 

10/1/2029

40,746

44,000

3.250%, 

1/31/2032

34,971

55,000

5.950%, 

6/30/2033

f

53,046

Chesapeake

Energy

Corporation

44,000

6.750%, 

4/15/2029

f

43,059

Chord

Energy

Corporation

43,000

6.375%, 

6/1/2026

f

42,162

Civitas

Resources,

Inc.

26,000

8.375%, 

7/1/2028

f

26,455

38,000

8.750%, 

7/1/2031

f

38,816

CNX

Resources

Corporation

33,000

6.000%, 

1/15/2029

f

30,836

CNX

Resources

Corporation,

Convertible

163,000

2.250%, 

5/1/2026

294,704

Columbia

Pipelines

Holding

Company,

LLC

36,000

6.055%, 

8/15/2026

f

36,113

81,000

6.042%, 

8/15/2028

f

80,589

Comstock

Resources,

Inc.

43,000

5.875%, 

1/15/2030

f

37,222

CQP

Holdco,

LP/BIP-V

Chinnok

Holdco,

LLC

53,000

5.500%, 

6/15/2031

f

46,976

Crescent

Energy

Finance,

LLC

64,000

9.250%, 

2/15/2028

f

65,341

CrownRock,

LP/CrownRock

Finance,

Inc.

52,000

5.625%, 

10/15/2025

f

51,165

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Energy

(1.6%)

-

continued

Diamond

Foreign

Asset

Company/

Diamond

Finance,

LLC

$

22,000

8.500%, 

10/1/2030

f

$

22,003

Diamondback

Energy,

Inc.

104,000

3.125%, 

3/24/2031

86,630

DT

Midstream,

Inc.

45,000

4.125%, 

6/15/2029

f,i

38,927

25,000

4.375%, 

6/15/2031

f

21,023

Enbridge,

Inc.

60,000

7.375%, 

1/15/2083

b

57,058

56,000

7.625%, 

1/15/2083

b

53,472

45,000

3.700%, 

7/15/2027

41,833

20,000

5.700%, 

3/8/2033

19,160

Enerflex,

Ltd.

41,000

9.000%, 

10/15/2027

f

40,487

Energy

Transfer,

LP

53,000

6.750%, 

5/15/2025

b,k

48,980

67,000

3.750%, 

5/15/2030

58,363

EnLink

Midstream

Partners,

LP

91,000

4.850%, 

7/15/2026

85,673

Enterprise

Products

Operating,

LLC

45,000

4.150%, 

10/16/2028

42,189

EQM

Midstream

Partners,

LP

157,000

4.750%, 

1/15/2031

f

135,136

EQT

Corporation,

Convertible

91,000

1.750%, 

5/1/2026

252,580

Ferrellgas,

LP/Ferrellgas

Finance

Corporation

48,000

5.375%, 

4/1/2026

f

44,990

Genesis

Energy

LP/Genesis

Energy

Finance

Corporation

89,000

8.875%, 

4/15/2030

86,899

Harvest

Midstream,

LP

108,000

7.500%, 

9/1/2028

f

104,396

Hess

Midstream

Operations,

LP

54,000

5.625%, 

2/15/2026

f

52,177

25,000

5.125%, 

6/15/2028

f

22,995

Hilcorp

Energy

I,

LP/Hilcorp

Finance

Company

70,000

5.750%, 

2/1/2029

f

63,210

64,000

6.250%, 

4/15/2032

f

56,906

Howard

Midstream

Energy

Partners,

LLC

71,000

6.750%, 

1/15/2027

f

67,450

ITT

Holdings,

LLC

65,000

6.500%, 

8/1/2029

f

55,096

Laredo

Petroleum,

Inc.

99,000

7.750%, 

7/31/2029

f

92,102

Marathon

Oil

Corporation

45,000

4.400%, 

7/15/2027

42,326

MEG

Energy

Corporation

74,000

5.875%, 

2/1/2029

f

69,107

MPLX,

LP

113,000

1.750%, 

3/1/2026

102,463

20,000

5.000%, 

3/1/2033

18,225

Murphy

Oil

Corporation

50,000

5.875%, 

12/1/2027

48,520

Nabors

Industries,

Ltd.

115,000

7.250%, 

1/15/2026

f

111,119

National

Fuel

Gas

Company

90,000

5.500%, 

1/15/2026

88,512

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

33

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Energy

(1.6%)

-

continued

New

Fortress

Energy,

Inc.

$

30,000

6.750%, 

9/15/2025

f

$

28,638

Noble

Finance

II,

LLC

59,000

8.000%, 

4/15/2030

f

59,772

Northern

Oil

and

Gas,

Inc.

57,000

8.750%, 

6/15/2031

f

57,428

Northern

Oil

and

Gas,

Inc.,

Convertible

129,000

3.625%, 

4/15/2029

f

159,352

Northriver

Midstream

Finance,

LP

29,000

5.625%, 

2/15/2026

f

27,636

NuStar

Logistics,

LP

49,000

5.750%, 

10/1/2025

47,652

Occidental

Petroleum

Corporation

64,000

6.375%, 

9/1/2028

64,477

ONEOK,

Inc.

68,000

2.200%, 

9/15/2025

63,275

39,000

5.550%, 

11/1/2026

38,746

41,000

5.650%, 

11/1/2028

40,469

Ovintiv,

Inc.

25,000

5.650%, 

5/15/2025

24,857

22,000

5.650%, 

5/15/2028

21,519

41,000

6.250%, 

7/15/2033

39,644

PBF

Holding

Company,

LLC/PBF

Finance

Corporation

44,000

6.000%, 

2/15/2028

41,499

Permian

Resources

Operating,

LLC

50,000

7.000%, 

1/15/2032

f

49,311

Permian

Resources

Operating,

LLC,

Convertible

49,000

3.250%, 

4/1/2028

115,669

Phillips

66

Company

60,000

4.950%, 

12/1/2027

58,798

Pioneer

Natural

Resources

Company

57,000

1.900%, 

8/15/2030

44,719

Pioneer

Natural

Resources

Company,

Convertible

94,000

0.250%, 

5/15/2025

230,244

Plains

All

American

Pipeline,

LP/

PAA

Finance

Corporation

93,000

4.650%, 

10/15/2025

90,297

Precision

Drilling

Corporation

60,000

6.875%, 

1/15/2029

f

56,832

Range

Resources

Corporation

46,000

4.750%, 

2/15/2030

f

40,825

Rockcliff

Energy

II,

LLC

60,000

5.500%, 

10/15/2029

f

53,998

Rockies

Express

Pipeline,

LLC

17,000

4.950%, 

7/15/2029

f

15,142

Schlumberger

Holdings

Corporation

29,000

4.300%, 

5/1/2029

f

27,194

SM

Energy

Company

32,000

6.625%, 

1/15/2027

31,360

35,000

6.500%, 

7/15/2028

33,600

Southwestern

Energy

Company

55,000

5.375%, 

3/15/2030

50,108

33,000

4.750%, 

2/1/2032

28,324

Suburban

Propane

Partners,

LP/

Suburban

Energy

Finance

Corporation

23,000

5.875%, 

3/1/2027

21,965

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Energy

(1.6%)

-

continued

Suncor

Energy,

Inc.

$

40,000

7.150%, 

2/1/2032

$

42,077

Sunoco,

LP/Sunoco

Finance

Corporation

90,000

5.875%, 

3/15/2028

86,338

49,000

4.500%, 

4/30/2030

42,433

Tallgrass

Energy

Partners

LP/

Tallgrass

Energy

Finance

Corporation

100,000

5.500%, 

1/15/2028

f

91,000

Targa

Resources

Partners,

LP

106,000

4.875%, 

2/1/2031

94,939

Teine

Energy,

Ltd.

50,000

6.875%, 

4/15/2029

f

45,875

TransCanada

Trust

105,000

5.875%, 

8/15/2076

b

95,737

Transocean

Titan

Financing,

Ltd.

55,000

8.375%, 

2/1/2028

f

55,963

Transocean,

Inc.

50,000

11.500%, 

1/30/2027

f

52,438

69,350

8.750%, 

2/15/2030

f

70,910

USA

Compression

Partners,

LP/

USA

Compression

Finance

Corporation

65,000

6.875%, 

4/1/2026

63,670

Valaris,

Ltd.

57,000

8.375%, 

4/30/2030

f

57,043

Venture

Global

Calcasieu

Pass,

LLC

67,000

3.875%, 

8/15/2029

f

56,379

49,000

6.250%, 

1/15/2030

f

46,740

40,000

4.125%, 

8/15/2031

f

32,825

Venture

Global

LNG,

Inc.

117,000

8.375%, 

6/1/2031

f

115,018

Weatherford

International,

Ltd.

93,000

8.625%, 

4/30/2030

f

93,712

Williams

Companies,

Inc.

45,000

2.600%, 

3/15/2031

35,840

Total

6,453,628

Financials

(5.3%)

Acrisure,

LLC/Acrisure

Finance,

Inc.

19,000

6.000%, 

8/1/2029

f

15,967

AerCap

Holdings

NV

34,000

5.875%, 

10/10/2079

b,i

33,064

AerCap

Ireland

Capital

DAC/

AerCap

Global

Aviation

Trust

59,000

3.150%, 

2/15/2024

58,327

63,000

6.500%, 

7/15/2025

63,073

114,000

3.000%, 

10/29/2028

97,753

Air

Lease

Corporation

32,000

2.300%, 

2/1/2025

30,312

24,000

3.375%, 

7/1/2025

22,800

64,000

4.650%, 

6/15/2026

b,k

56,361

45,000

3.125%, 

12/1/2030

36,642

Aircastle,

Ltd.

65,000

5.250%, 

6/15/2026

b,f,k

51,113

45,000

2.850%, 

1/26/2028

f

38,182

Alliant

Holdings

Intermediate,

LLC/

Alliant

Holdings

Co-Issuer,

Inc.

37,000

6.750%, 

10/15/2027

f

34,410

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

34

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Financials

(5.3%)

-

continued

Ally

Financial,

Inc.

$

67,000

5.750%, 

11/20/2025

$

65,081

128,000

4.700%, 

5/15/2026

b,i,k

87,839

45,000

8.000%, 

11/1/2031

45,434

15,000

6.700%, 

2/14/2033

i

13,021

American

Express

Company

65,000

3.950%, 

8/1/2025

62,879

50,000

3.550%, 

9/15/2026

b,k

39,699

102,000

2.550%, 

3/4/2027

91,965

American

Homes

4

Rent,

LP

45,000

2.375%, 

7/15/2031

34,309

American

International

Group,

Inc.

81,000

5.125%, 

3/27/2033

75,367

AmWINS

Group,

Inc.

53,000

4.875%, 

6/30/2029

f

46,440

Arbor

Realty

Trust,

Inc.,

Convertible

75,000

7.500%, 

8/1/2025

f

75,422

Ares

Capital

Corporation

18,000

4.250%, 

3/1/2025

17,310

104,000

2.150%, 

7/15/2026

91,245

Ares

Capital

Corporation,

Convertible

97,000

4.625%, 

3/1/2024

98,394

Assurant,

Inc.

61,000

6.100%, 

2/27/2026

60,692

Australia

&

New

Zealand

Banking

Group,

Ltd.

102,000

2.950%, 

7/22/2030

b,f

94,686

Aviation

Capital

Group,

LLC

48,000

4.875%, 

10/1/2025

f

46,120

Avolon

Holdings

Funding,

Ltd.

89,000

4.250%, 

4/15/2026

f

83,651

BAC

Capital

Trust

XIV

92,000

6.071%, 

(TSFR3M

+

0.662%),

10/18/2023

b,k

71,116

Banco

Santander

Mexico

SA

17,000

5.375%, 

4/17/2025

f

16,709

Banco

Santander

SA

25,000

4.750%, 

11/12/2026

b,k

18,546

Bank

of

America

Corporation

70,000

4.200%, 

8/26/2024

68,774

158,000

6.250%, 

9/5/2024

b,i,k

155,446

35,000

3.458%, 

3/15/2025

b

34,533

83,000

6.100%, 

3/17/2025

b,k

81,277

85,000

1.319%, 

6/19/2026

b

77,951

32,000

1.197%, 

10/24/2026

b

28,937

80,000

6.125%, 

4/27/2027

b,k

76,650

70,000

1.734%, 

7/22/2027

b

62,031

84,000

4.376%, 

4/27/2028

b

79,317

134,000

3.593%, 

7/21/2028

b

122,371

65,000

4.948%, 

7/22/2028

b

62,456

125,000

5.819%, 

9/15/2029

b

123,466

179,000

3.974%, 

2/7/2030

b

160,760

159,000

2.687%, 

4/22/2032

b

124,965

65,000

2.572%, 

10/20/2032

b

49,946

82,000

2.972%, 

2/4/2033

b

64,662

42,000

3.846%, 

3/8/2037

b

34,161

Bank

of

Montreal

39,000

5.920%, 

9/25/2025

38,914

60,000

5.203%, 

2/1/2028

58,565

42,000

3.088%, 

1/10/2037

b

31,297

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Financials

(5.3%)

-

continued

Bank

of

New

York

Mellon

Corporation

$

65,000

4.596%, 

7/26/2030

b

$

61,182

Bank

of

Nova

Scotia

66,000

5.250%, 

12/6/2024

65,393

51,000

4.900%, 

6/4/2025

b,k

46,645

45,000

1.050%, 

3/2/2026

40,163

Barclays

plc

34,000

4.375%, 

9/11/2024

33,314

41,000

2.852%, 

5/7/2026

b

38,677

80,000

5.501%, 

8/9/2028

b

76,870

68,000

4.972%, 

5/16/2029

b

63,524

51,000

6.224%, 

5/9/2034

b

48,312

41,000

7.119%, 

6/27/2034

b

39,488

Berkshire

Hathaway

Finance

Corporation

128,000

2.875%, 

3/15/2032

107,347

Blackstone

Mortgage

Trust,

Inc.,

Convertible

37,000

5.500%, 

3/15/2027

32,907

Blue

Owl

Capital

Corporation

45,000

4.250%, 

1/15/2026

42,099

Blue

Owl

Credit

Income

Corporation

62,000

4.700%, 

2/8/2027

56,418

Blue

Owl

Technology

Finance

Corporation

22,000

4.750%, 

12/15/2025

f

20,349

67,000

3.750%, 

6/17/2026

f

59,461

BNP

Paribas

SA

67,000

2.819%, 

11/19/2025

b,f

64,349

55,000

3.132%, 

1/20/2033

b,f

43,213

BPCE

SA

32,000

2.375%, 

1/14/2025

f

30,322

Bread

Financial

Holdings,

Inc.,

Convertible

37,000

4.250%, 

6/15/2028

f

39,890

Brixmor

Operating

Partnership,

LP

73,000

2.250%, 

4/1/2028

61,472

Brookfield

Property

REIT,

Inc./BPR

Cumulus,

LLC/BPR

Nimbus,

LLC/GGSI

Sellco,

LLC

19,000

4.500%, 

4/1/2027

f

15,834

Canadian

Imperial

Bank

of

Commerce

67,000

3.945%, 

8/4/2025

64,685

37,000

5.926%, 

10/2/2026

e

36,991

Capital

One

Financial

Corporation

28,000

3.950%, 

9/1/2026

b,k

21,017

61,000

3.273%, 

3/1/2030

b

51,026

Capital

One

NA

48,000

2.280%, 

1/28/2026

b

45,331

Castlelake

Aviation

Finance

DAC

29,000

5.000%, 

4/15/2027

f

26,487

Centene

Corporation

167,000

3.000%, 

10/15/2030

134,704

Charles

Schwab

Corporation

128,000

5.375%, 

6/1/2025

b,k

122,973

79,000

0.900%, 

3/11/2026

70,029

88,000

4.000%, 

6/1/2026

b,k

73,498

39,000

5.875%, 

8/24/2026

38,872

25,000

5.000%, 

6/1/2027

b,k

20,893

59,000

2.000%, 

3/20/2028

49,787

40,000

6.136%, 

8/24/2034

b

38,910

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

35

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Financials

(5.3%)

-

continued

Citigroup,

Inc.

$

78,000

9.699%, 

(TSFR3M

+

4.330%),

10/30/2023

b,k

$

77,851

37,000

5.000%, 

9/12/2024

b,k

34,990

105,000

3.352%, 

4/24/2025

b

103,127

85,000

5.500%, 

9/13/2025

83,974

37,000

1.281%, 

11/3/2025

b

34,945

105,000

3.875%, 

2/18/2026

b,k

89,601

38,000

4.150%, 

11/15/2026

b,k

30,414

159,000

1.122%, 

1/28/2027

b

141,688

91,000

1.462%, 

6/9/2027

b

80,438

78,000

3.070%, 

2/24/2028

b

70,754

29,000

7.375%, 

5/15/2028

b,i,k

28,139

55,000

7.625%, 

11/15/2028

b,k

53,658

180,000

4.075%, 

4/23/2029

b

165,661

41,000

6.174%, 

5/25/2034

b

39,181

Citizens

Financial

Group,

Inc.

65,000

4.000%, 

10/6/2026

b,k

48,174

CNA

Financial

Corporation

40,000

3.950%, 

5/15/2024

39,476

Coinbase

Global,

Inc.,

Convertible

281,000

0.500%, 

6/1/2026

210,919

Comerica,

Inc.

42,000

5.625%, 

7/1/2025

b,i,k

38,484

Commonwealth

Bank

of

Australia

54,000

2.688%, 

3/11/2031

f

41,085

Cooperatieve

Rabobank

UA

35,000

1.339%, 

6/24/2026

b,f

32,206

Corebridge

Financial,

Inc.

42,000

6.875%, 

12/15/2052

b

40,236

42,000

6.050%, 

9/15/2033

f

40,820

Corporate

Office

Properties,

LP

91,000

2.250%, 

3/15/2026

81,928

Corporate

Office

Properties,

LP,

Convertible

24,000

5.250%, 

9/15/2028

f

24,036

Credit

Acceptance

Corporation

100,000

5.125%, 

12/31/2024

f

97,397

Credit

Agricole

SA

45,000

3.250%, 

1/14/2030

f

37,556

Credit

Suisse

Group

AG

22,000

7.500%, 

12/11/2023

*,b,k,l

2,090

32,000

7.250%, 

9/12/2025

b,f,k,l

3,040

Dai-ichi

Life

Insurance

Company,

Ltd.

80,000

5.100%, 

10/28/2024

b,f,k

78,435

Deutsche

Bank

AG/New

York,

NY

152,000

2.129%, 

11/24/2026

b

137,461

64,000

2.311%, 

11/16/2027

b

55,730

62,000

3.742%, 

1/7/2033

b

44,491

Discover

Bank

90,000

5.974%, 

(USISOA05

+

1.730%),

8/9/2028

b

82,353

Discover

Financial

Services

19,000

6.700%, 

11/29/2032

18,366

Drawbridge

Special

Opportunities

Fund,

LP

100,000

3.875%, 

2/15/2026

f

88,972

Elevance

Health,

Inc.

79,000

5.350%, 

10/15/2025

78,502

124,000

2.550%, 

3/15/2031

100,486

Enact

Holdings,

Inc.

37,000

6.500%, 

8/15/2025

f

36,442

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Financials

(5.3%)

-

continued

Encore

Capital

Group,

Inc.,

Convertible

$

91,000

4.000%, 

3/15/2029

f

$

87,172

Extra

Space

Storage,

LP

44,000

2.400%, 

10/15/2031

33,685

Fifth

Third

Bancorp

84,000

4.500%, 

9/30/2025

b,k

75,229

44,000

4.772%, 

7/28/2030

b

39,943

Fifth

Third

Bank

NA

110,000

3.850%, 

3/15/2026

101,746

First

Horizon

Bank

67,000

5.750%, 

5/1/2030

59,970

First-Citizens

Bank

&

Trust

Company

89,000

6.125%, 

3/9/2028

88,399

Fortress

Transportation

and

Infrastructure

Investors,

LLC

65,000

6.500%, 

10/1/2025

f

63,885

24,000

9.750%, 

8/1/2027

f

24,824

15,000

5.500%, 

5/1/2028

f

13,599

Freedom

Mortgage

Corporation

22,000

12.000%, 

10/1/2028

f

22,371

FS

KKR

Capital

Corporation

45,000

3.400%, 

1/15/2026

41,237

45,000

2.625%, 

1/15/2027

38,535

GGAM

Finance,

Ltd.

57,000

7.750%, 

5/15/2026

f

56,430

Global

Net

Lease,

Inc./Global

Net

Lease

Operating

Partnership,

LP

103,000

3.750%, 

12/15/2027

f

79,747

Goldman

Sachs

Group,

Inc.

46,000

5.500%, 

8/10/2024

b,i,k

44,838

31,000

3.500%, 

4/1/2025

29,849

52,000

4.250%, 

10/21/2025

50,111

51,000

0.855%, 

2/12/2026

b

47,263

33,000

3.650%, 

8/10/2026

b,k

26,601

57,000

4.125%, 

11/10/2026

b,k

46,622

60,000

1.948%, 

10/21/2027

b

52,977

42,000

2.640%, 

2/24/2028

b

37,452

124,000

3.615%, 

3/15/2028

b

114,412

86,000

4.482%, 

8/23/2028

b

81,400

90,000

3.814%, 

4/23/2029

b

81,723

44,000

3.800%, 

3/15/2030

38,826

44,000

2.615%, 

4/22/2032

b

34,367

45,000

2.383%, 

7/21/2032

b

34,271

Hartford

Financial

Services

Group,

Inc.

45,000

2.800%, 

8/19/2029

38,600

66,000

7.751%, 

(TSFR3M

+

2.387%),

2/12/2047

b,f

56,108

HAT

Holdings

I,

LLC/HAT

Holdings

II,

LLC,

Convertible

9,000

Zero

Coupon, 

5/1/2025

f

8,685

74,000

3.750%, 

8/15/2028

f

71,919

HSBC

Holdings

plc

65,000

3.803%, 

3/11/2025

b

64,198

20,000

6.375%, 

3/30/2025

b,k

19,212

39,000

2.633%, 

11/7/2025

b

37,370

41,000

1.645%, 

4/18/2026

b

38,106

41,000

1.589%, 

5/24/2027

b

36,152

64,000

2.251%, 

11/22/2027

b

56,494

126,000

4.583%, 

6/19/2029

b

116,492

47,000

4.600%, 

12/17/2030

b,k

35,517

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

36

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Financials

(5.3%)

-

continued

$

53,000

2.804%, 

5/24/2032

b

$

41,051

HUB

International,

Ltd.

78,000

5.625%, 

12/1/2029

f

67,919

Huntington

Bancshares,

Inc.

76,000

4.450%, 

10/15/2027

b,k

61,474

Icahn

Enterprises,

LP/Icahn

Enterprises

Finance

Corporation

55,000

6.375%, 

12/15/2025

52,320

65,000

5.250%, 

5/15/2027

57,134

ING

Groep

NV

90,000

1.726%, 

4/1/2027

b

80,522

46,000

6.083%, 

9/11/2027

b

45,796

Intercontinental

Exchange,

Inc.

62,000

4.350%, 

6/15/2029

58,321

Invitation

Homes

Operating

Partnership,

LP

68,000

2.000%, 

8/15/2031

50,323

J.P.

Morgan

Chase

&

Company

44,000

8.934%, 

(TSFR3M

+

3.562%),

11/1/2023

b,i,k

44,149

111,000

5.000%, 

8/1/2024

b,k

107,289

145,000

4.023%, 

12/5/2024

b

144,356

73,000

4.600%, 

2/1/2025

b,k

68,291

63,000

1.561%, 

12/10/2025

b

59,540

31,000

2.083%, 

4/22/2026

b

29,097

40,000

3.650%, 

6/1/2026

b,k

34,914

190,000

1.045%, 

11/19/2026

b

170,755

90,000

1.578%, 

4/22/2027

b

80,319

81,000

2.947%, 

2/24/2028

b

73,479

134,000

4.005%, 

4/23/2029

b

123,491

45,000

2.069%, 

6/1/2029

b

37,917

179,000

4.493%, 

3/24/2031

b

163,896

42,000

2.963%, 

1/25/2033

b

33,437

44,000

4.912%, 

7/25/2033

b

40,482

42,000

5.717%, 

9/14/2033

b

40,374

29,000

5.350%, 

6/1/2034

b

27,500

Jefferies

Finance,

LLC/JFIN

Co-

Issuer

Corporation

24,000

5.000%, 

8/15/2028

f

20,208

KeyBank

NA/Cleveland,

OH

67,000

3.900%, 

4/13/2029

54,311

77,000

5.000%, 

1/26/2033

64,816

Kilroy

Realty,

LP

58,000

4.250%, 

8/15/2029

49,690

Lincoln

National

Corporation

50,000

7.996%, 

(LIBOR

3M

+

2.358%),

11/17/2023

b,i

34,785

Lloyds

Banking

Group

plc

143,000

1.627%, 

5/11/2027

b

126,831

LPL

Holdings,

Inc.

60,000

4.000%, 

3/15/2029

f

52,312

M&T

Bank

Corporation

116,000

3.500%, 

9/1/2026

b,k

81,576

Macquarie

Group,

Ltd.

89,000

1.629%, 

9/23/2027

b,f

77,750

Manufacturers

&

Traders

Trust

Company

83,000

4.700%, 

1/27/2028

76,655

Marsh

&

McLennan

Companies,

Inc.

40,000

2.375%, 

12/15/2031

31,451

MetLife,

Inc.

84,000

3.850%, 

9/15/2025

b,k

77,707

44,000

5.875%, 

3/15/2028

b,k

41,328

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Financials

(5.3%)

-

continued

$

57,000

6.400%, 

12/15/2036

$

55,696

Metropolitan

Life

Global

Funding

I

73,000

2.950%, 

4/9/2030

f

61,861

Mid-America

Apartments,

LP

90,000

4.200%, 

6/15/2028

84,556

Mitsubishi

UFJ

Financial

Group,

Inc.

41,000

1.412%, 

7/17/2025

37,823

91,000

1.538%, 

7/20/2027

b

80,601

Mizuho

Financial

Group,

Inc.

97,000

1.554%, 

7/9/2027

b

85,769

93,000

2.564%, 

9/13/2031

70,385

40,000

5.748%, 

7/6/2034

b

38,183

Molina

Healthcare,

Inc.

54,000

4.375%, 

6/15/2028

f

48,387

Morgan

Stanley

34,000

5.816%, 

(SOFRRATE

+

0.466%),

11/10/2023

b

34,000

34,000

2.720%, 

7/22/2025

b

32,996

88,000

1.164%, 

10/21/2025

b

83,069

24,000

5.000%, 

11/24/2025

23,523

69,000

2.188%, 

4/28/2026

b

64,818

76,000

6.138%, 

10/16/2026

b

76,072

39,000

0.985%, 

12/10/2026

b

34,794

90,000

1.593%, 

5/4/2027

b

80,107

93,000

1.512%, 

7/20/2027

b

82,174

28,000

5.123%, 

2/1/2029

b

26,964

134,000

3.622%, 

4/1/2031

b

115,437

42,000

2.943%, 

1/21/2033

b

33,075

44,000

4.889%, 

7/20/2033

b

39,980

42,000

5.250%, 

4/21/2034

b

38,996

47,000

5.424%, 

7/21/2034

b

44,335

78,000

2.484%, 

9/16/2036

b

56,658

MPT

Operating

Partnership,

LP/

MPT

Finance

Corporation

50,000

5.250%, 

8/1/2026

42,584

24,000

4.625%, 

8/1/2029

16,998

Nasdaq,

Inc.

37,000

5.350%, 

6/28/2028

36,324

Nationstar

Mortgage

Holdings,

Inc.

49,000

6.000%, 

1/15/2027

f

46,301

NatWest

Group

plc

65,000

4.269%, 

3/22/2025

b

64,304

45,000

4.892%, 

5/18/2029

b

42,088

67,000

3.754%, 

11/1/2029

b

63,794

Necessity

Retail

REIT,

Inc./

American

Finance

Operating

Partner,

LP

55,000

4.500%, 

9/30/2028

f

41,777

New

York

Life

Global

Funding

43,000

4.550%, 

1/28/2033

f

39,420

NFP

Corporation

35,000

6.875%, 

8/15/2028

f

29,984

Nippon

Life

Insurance

Company

168,000

5.100%, 

10/16/2044

b,f

164,850

NNN

REIT,

Inc.

45,000

2.500%, 

4/15/2030

36,366

Nomura

Holdings,

Inc.

67,000

2.172%, 

7/14/2028

55,591

Northern

Trust

Corporation

65,000

4.000%, 

5/10/2027

61,485

Office

Properties

Income

Trust

25,000

2.650%, 

6/15/2026

17,007

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

37

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Financials

(5.3%)

-

continued

Omega

Healthcare

Investors,

Inc.

$

46,000

4.750%, 

1/15/2028

$

42,571

45,000

3.375%, 

2/1/2031

35,181

OneMain

Finance

Corporation

64,000

6.875%, 

3/15/2025

63,493

165,000

3.875%, 

9/15/2028

132,436

Park

Intermediate

Holdings,

LLC

93,000

4.875%, 

5/15/2029

f

78,673

Pebblebrook

Hotel

Trust,

Convertible

304,000

1.750%, 

12/15/2026

252,138

Pine

Street

Trust

I

45,000

4.572%, 

2/15/2029

f

40,492

PNC

Bank

NA

45,000

2.700%, 

10/22/2029

36,610

PNC

Financial

Services

Group,

Inc.

102,000

5.671%, 

10/28/2025

b

101,213

60,000

3.400%, 

9/15/2026

b,k

44,386

57,000

6.200%, 

9/15/2027

b,k

52,383

36,000

5.582%, 

6/12/2029

b

34,924

58,000

6.250%, 

3/15/2030

b,k

49,718

PRA

Group,

Inc.

53,000

7.375%, 

9/1/2025

f

51,609

44,000

8.375%, 

2/1/2028

f

40,040

Principal

Life

Global

Funding

II

68,000

1.250%, 

8/16/2026

f

59,513

Prologis,

LP

75,000

3.375%, 

12/15/2027

68,959

Provident

Financing

Trust

I

42,000

7.405%, 

3/15/2038

41,424

Prudential

Financial,

Inc.

42,000

5.125%, 

3/1/2052

b

36,168

43,000

6.750%, 

3/1/2053

b

41,577

136,000

5.200%, 

3/15/2044

b,i

133,059

42,000

3.700%, 

10/1/2050

b

34,158

Public

Storage

Operating

Company

43,000

5.100%, 

8/1/2033

41,104

QBE

Insurance

Group,

Ltd.

40,000

5.875%, 

5/12/2025

b,f,k

38,022

Quicken

Loans,

LLC

24,000

3.875%, 

3/1/2031

f

19,137

Radian

Group,

Inc.

45,000

4.875%, 

3/15/2027

42,047

Realty

Income

Corporation

45,000

4.875%, 

6/1/2026

44,161

50,000

3.950%, 

8/15/2027

46,880

53,000

5.625%, 

10/13/2032

51,238

Redwood

Trust,

Inc.,

Convertible

13,000

7.750%, 

6/15/2027

11,627

Regions

Financial

Corporation

40,000

2.250%, 

5/18/2025

37,314

49,000

5.750%, 

6/15/2025

b,i,k

46,490

Reinsurance

Group

of

America,

Inc.

44,000

6.000%, 

9/15/2033

42,453

RLJ

Lodging

Trust,

LP

25,000

3.750%, 

7/1/2026

f

22,610

68,000

4.000%, 

9/15/2029

f

55,688

Rocket

Mortgage,

LLC/Rocket

Mortgage

Co-Issuer,

Inc.

60,000

3.625%, 

3/1/2029

f

49,604

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Financials

(5.3%)

-

continued

Royal

Bank

of

Canada

$

78,000

0.750%, 

10/7/2024

$

73,997

53,000

5.000%, 

2/1/2033

49,383

Santander

Holdings

USA,

Inc.

90,000

3.450%, 

6/2/2025

85,599

41,000

2.490%, 

1/6/2028

b

35,599

42,000

6.499%, 

3/9/2029

b

40,961

Santander

UK

Group

Holdings

plc

92,000

1.673%, 

6/14/2027

b

80,472

Service

Properties

Trust

31,000

4.650%, 

3/15/2024

30,577

16,000

4.350%, 

10/1/2024

15,349

55,000

7.500%, 

9/15/2025

54,034

70,000

5.500%, 

12/15/2027

59,824

Simon

Property

Group,

LP

73,000

2.650%, 

7/15/2030

60,053

SLM

Corporation

30,000

4.200%, 

10/29/2025

28,071

Societe

Generale

SA

39,000

2.625%, 

10/16/2024

f

37,484

41,000

1.488%, 

12/14/2026

b,f

36,603

Spirit

Realty,

LP

75,000

3.200%, 

1/15/2027

67,944

Standard

Chartered

plc

41,000

0.991%, 

1/12/2025

b,f

40,321

40,000

6.000%, 

7/26/2025

b,f,i,k

37,988

63,000

2.608%, 

1/12/2028

b,f

55,770

Starwood

Property

Trust,

Inc.,

Convertible

117,000

6.750%, 

7/15/2027

119,867

State

Street

Corporation

36,000

5.272%, 

8/3/2026

35,662

44,000

4.421%, 

5/13/2033

b

39,473

Sumitomo

Life

Insurance

Company

95,000

3.375%, 

4/15/2081

b,f

78,953

Sumitomo

Mitsui

Financial

Group,

Inc.

39,000

2.448%, 

9/27/2024

37,665

63,000

2.174%, 

1/14/2027

56,034

75,000

5.716%, 

9/14/2028

74,020

67,000

2.142%, 

9/23/2030

51,729

54,000

5.766%, 

1/13/2033

52,775

Sumitomo

Mitsui

Trust

Bank,

Ltd.

35,000

1.050%, 

9/12/2025

f

31,882

Summit

Hotel

Properties,

Inc.,

Convertible

101,000

1.500%, 

2/15/2026

84,840

Synchrony

Financial

38,000

4.250%, 

8/15/2024

37,111

15,000

7.250%, 

2/2/2033

13,239

Synovus

Bank

40,000

5.625%, 

2/15/2028

36,243

Toronto-Dominion

Bank

32,000

8.125%, 

10/31/2082

b

31,835

39,000

5.156%, 

1/10/2028

38,064

57,000

5.523%, 

7/17/2028

56,261

44,000

4.456%, 

6/8/2032

39,458

Truist

Bank

42,000

2.250%, 

3/11/2030

32,149

Truist

Financial

Corporation

74,000

6.047%, 

6/8/2027

b

73,195

37,000

1.887%, 

6/7/2029

b

30,384

95,000

5.100%, 

3/1/2030

b,k

81,221

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

38

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Financials

(5.3%)

-

continued

U.S.

Bancorp

$

74,000

5.727%, 

10/21/2026

b

$

73,384

65,000

4.548%, 

7/22/2028

b

61,055

19,000

5.836%, 

6/12/2034

b

17,920

UBS

Group

AG

34,000

2.593%, 

9/11/2025

b,f

32,724

78,000

2.193%, 

6/5/2026

b,f

72,545

88,000

3.869%, 

1/12/2029

b,f

79,709

UDR,

Inc.

89,000

3.000%, 

8/15/2031

72,279

United

Wholesale

Mortgage,

LLC

16,000

5.500%, 

11/15/2025

f

15,219

39,000

5.500%, 

4/15/2029

f

32,955

UnitedHealth

Group,

Inc.

91,000

5.250%, 

2/15/2028

91,155

88,000

4.200%, 

5/15/2032

80,319

USB

Realty

Corporation

49,000

6.717%, 

(TSFR3M

+

1.409%),

1/15/2027

b,f,k

35,643

USI,

Inc./NY

20,000

6.875%, 

5/1/2025

f

19,846

Ventas

Realty,

LP

35,000

3.750%, 

5/1/2024

34,513

Ventas

Realty,

LP,

Convertible

167,000

3.750%, 

6/1/2026

f

162,742

Wells

Fargo

&

Company

106,000

2.406%, 

10/30/2025

b

101,580

116,000

3.900%, 

3/15/2026

b,k

101,308

119,000

2.188%, 

4/30/2026

b

111,733

50,000

6.070%, 

(TSFR3M

+

0.762%),

1/15/2027

b

47,393

41,000

3.526%, 

3/24/2028

b

37,653

89,000

3.584%, 

5/22/2028

b

81,479

65,000

4.808%, 

7/25/2028

b

62,028

58,000

7.625%, 

9/15/2028

b,k

58,474

90,000

4.478%, 

4/4/2031

b

81,652

29,000

5.389%, 

4/24/2034

b

27,112

40,000

5.557%, 

7/25/2034

b

37,875

Welltower

OP,

LLC

45,000

2.050%, 

1/15/2029

37,196

50,000

2.800%, 

6/1/2031

40,012

Welltower

OP,

LLC,

Convertible

253,000

2.750%, 

5/15/2028

f

258,195

Westpac

Banking

Corporation

67,000

4.110%, 

7/24/2034

b

57,862

Willis

North

America,

Inc.

90,000

4.500%, 

9/15/2028

84,400

XHR,

LP

25,000

6.375%, 

8/15/2025

f,i

24,545

27,000

4.875%, 

6/1/2029

f

22,950

Total

20,781,625

Foreign

Government

(<0.1%)

NBN

Company,

Ltd.

82,000

2.625%, 

5/5/2031

f

66,088

Total

66,088

Mortgage-Backed

Securities

(12.9%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

1,850,253

2.500%, 

5/1/2051

1,476,597

1,025,901

3.500%, 

5/1/2052

883,436

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Mortgage-Backed

Securities

(12.9%)

-

continued

$

1,124,180

4.000%, 

5/1/2052

$

1,008,932

3,252,970

3.500%, 

6/1/2052

2,803,280

2,821,855

5.000%, 

7/1/2053

2,671,173

769,854

5.500%, 

7/1/2053

746,956

400,000

5.500%, 

9/1/2053

388,101

Federal

Home

Loan

Mortgage

Corporation

Gold

15-Yr.

Pass

Through

1,227,387

2.500%, 

7/1/2030

1,118,775

Federal

National

Mortgage

Association

Conventional

20-Yr.

Pass

Through

937,809

3.500%, 

5/1/2040

833,126

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

2,822,827

3.000%, 

1/1/2052

2,349,999

420,525

2.000%, 

2/1/2051

322,087

270,824

2.000%, 

2/1/2051

207,107

1,286,086

2.500%, 

2/1/2051

1,030,568

1,384,315

2.500%, 

2/1/2051

1,107,053

2,667,686

2.000%, 

3/1/2051

2,038,828

2,907,181

3.000%, 

3/1/2052

2,410,952

1,822,681

2.000%, 

4/1/2051

1,392,825

1,730,666

3.000%, 

4/1/2051

1,436,834

1,791,398

3.000%, 

5/1/2050

1,498,886

495,203

2.000%, 

5/1/2051

377,670

924,599

3.000%, 

5/1/2051

777,308

964,497

3.000%, 

6/1/2050

814,709

1,618,683

5.000%, 

6/1/2053

1,534,754

2,120,505

2.500%, 

7/1/2051

1,692,732

715,393

3.500%, 

7/1/2051

625,550

867,384

2.500%, 

8/1/2050

700,225

1,511,365

3.500%, 

8/1/2050

1,322,953

1,269,324

3.500%, 

9/1/2052

1,097,505

937,442

4.500%, 

9/1/2053

861,722

1,871,762

4.000%, 

10/1/2052

1,671,876

515,444

2.000%, 

11/1/2051

393,579

2,031,712

2.000%, 

12/1/2050

1,556,177

3,532,622

4.500%, 

12/1/2052

3,257,882

2,050,000

4.000%, 

10/1/2048

e

1,824,980

1,300,000

4.500%, 

10/1/2048

e

1,193,562

2,525,000

5.000%, 

10/1/2048

e

2,382,180

Federal

National

Mortgage

Association

Conventional

40-Yr.

Pass

Through

2,336,394

2.500%, 

3/1/2062

1,793,080

845,378

3.500%, 

7/1/2061

719,004

967,128

4.000%, 

12/1/2061

861,331

Total

51,184,294

Technology

(1.5%)

Advanced

Micro

Devices,

Inc.

44,000

3.924%, 

6/1/2032

39,545

Akamai

Technologies,

Inc.,

Convertible

67,000

0.125%, 

5/1/2025

79,020

204,000

0.375%, 

9/1/2027

212,466

109,000

1.125%, 

2/15/2029

f

109,926

Analog

Devices,

Inc.

22,000

2.100%, 

10/1/2031

17,373

Apple,

Inc.

114,000

2.200%, 

9/11/2029

97,805

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

39

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Technology

(1.5%)

-

continued

$

83,000

1.650%, 

2/8/2031

$

65,749

AthenaHealth

Group,

Inc.

113,000

6.500%, 

2/15/2030

f

94,525

Block,

Inc.,

Convertible

43,000

0.125%, 

3/1/2025

39,904

172,000

0.250%, 

11/1/2027

129,107

Broadcom

Corporation/Broadcom

Cayman

Finance,

Ltd.

67,000

3.875%, 

1/15/2027

62,954

Broadcom,

Inc.

41,000

4.000%, 

4/15/2029

f

36,998

Cloud

Software

Group,

Inc.

65,000

6.500%, 

3/31/2029

f

57,482

24,000

9.000%, 

9/30/2029

f

20,856

CommScope

Technologies,

LLC

31,000

6.000%, 

6/15/2025

f

29,511

CommScope,

Inc.

50,000

7.125%, 

7/1/2028

f

29,915

CSG

Systems

International,

Inc.,

Convertible

58,000

3.875%, 

9/15/2028

f

56,440

Dell

International,

LLC/EMC

Corporation

58,000

5.250%, 

2/1/2028

57,114

29,000

5.300%, 

10/1/2029

28,152

Euronet

Worldwide,

Inc.,

Convertible

76,000

0.750%, 

3/15/2049

i

69,825

Fiserv,

Inc.

72,000

2.750%, 

7/1/2024

70,267

89,000

4.200%, 

10/1/2028

83,453

20,000

5.600%, 

3/2/2033

19,384

Gartner,

Inc.

45,000

3.625%, 

6/15/2029

f

38,496

110,000

3.750%, 

10/1/2030

f

92,312

Global

Payments,

Inc.

17,000

2.650%, 

2/15/2025

16,197

64,000

4.950%, 

8/15/2027

61,508

45,000

3.200%, 

8/15/2029

38,269

II-VI,

Inc.

26,000

5.000%, 

12/15/2029

f,i

22,543

Intel

Corporation

84,000

5.125%, 

2/10/2030

82,427

InterDigital,

Inc.,

Convertible

214,000

3.500%, 

6/1/2027

251,857

Iron

Mountain,

Inc.

63,000

4.875%, 

9/15/2027

f

58,108

120,000

5.000%, 

7/15/2028

f

109,146

47,000

4.875%, 

9/15/2029

f

41,193

66,000

4.500%, 

2/15/2031

f

54,283

Jabil,

Inc.

41,000

5.450%, 

2/1/2029

39,870

Lumentum

Holdings,

Inc.,

Convertible

147,000

0.250%, 

3/15/2024

145,530

278,000

0.500%, 

6/15/2028

i

201,911

Marvell

Technology,

Inc.

44,000

2.950%, 

4/15/2031

35,597

Mastercard,

Inc.

40,000

2.000%, 

11/18/2031

31,378

Microchip

Technology,

Inc.,

Convertible

259,000

0.125%, 

11/15/2024

i

271,950

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Technology

(1.5%)

-

continued

Moody's

Corporation

$

42,000

4.250%, 

8/8/2032

$

38,112

NCR

Corporation

89,000

5.125%, 

4/15/2029

f

78,414

88,000

6.125%, 

9/1/2029

f

90,246

NVIDIA

Corporation

22,000

2.850%, 

4/1/2030

19,194

NXP

BV/NXP

Funding,

LLC

48,000

4.875%, 

3/1/2024

47,760

NXP

BV/NXP

Funding,

LLC/NXP

USA,

Inc.

17,000

2.700%, 

5/1/2025

16,145

45,000

4.300%, 

6/18/2029

41,225

ON

Semiconductor

Corporation,

Convertible

237,000

Zero

Coupon, 

5/1/2027

426,600

7,000

0.500%, 

3/1/2029

f

7,686

Open

Text

Corporation

74,000

3.875%, 

12/1/2029

f

60,829

80,000

4.125%, 

2/15/2030

f

66,928

Oracle

Corporation

43,000

6.150%, 

11/9/2029

43,652

112,000

2.950%, 

4/1/2030

94,246

64,000

6.250%, 

11/9/2032

64,791

PayPal

Holdings,

Inc.

45,000

2.850%, 

10/1/2029

39,010

52,000

2.300%, 

6/1/2030

42,496

Progress

Software

Corporation,

Convertible

75,000

1.000%, 

4/15/2026

77,175

PTC,

Inc.

40,000

3.625%, 

2/15/2025

f

38,441

60,000

4.000%, 

2/15/2028

f

53,775

Rackspace

Technology

Global,

Inc.

75,000

5.375%, 

12/1/2028

f

25,151

RingCentral,

Inc.

55,000

8.500%, 

8/15/2030

f

53,130

S&P

Global,

Inc.

41,000

2.900%, 

3/1/2032

33,744

Salesforce.com,

Inc.

117,000

1.950%, 

7/15/2031

92,658

Seagate

HDD

Cayman

34,000

8.500%, 

7/15/2031

f,i

34,877

90,330

9.625%, 

12/1/2032

f

97,334

Semtech

Corporation,

Convertible

82,000

1.625%, 

11/1/2027

f

76,629

Sensata

Technologies,

Inc.

58,000

3.750%, 

2/15/2031

f

46,941

Shift4

Payments,

LLC/Shift4

Payments

Finance

Sub,

Inc.

20,000

4.625%, 

11/1/2026

f

18,857

SS&C

Technologies,

Inc.

180,000

5.500%, 

9/30/2027

f

169,855

Verint

Systems,

Inc.,

Convertible

119,000

0.250%, 

4/15/2026

101,596

Viavi

Solutions,

Inc.

55,000

3.750%, 

10/1/2029

f

44,710

Viavi

Solutions,

Inc.,

Convertible

87,000

1.625%, 

3/15/2026

f

83,042

Vishay

Intertechnology,

Inc.,

Convertible

386,000

2.250%, 

9/15/2030

f

378,087

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

40

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Technology

(1.5%)

-

continued

VMware,

Inc.

$

91,000

1.400%, 

8/15/2026

$

80,272

56,000

2.200%, 

8/15/2031

42,259

Xilinx,

Inc.

28,000

2.375%, 

6/1/2030

23,181

Ziff

Davis,

Inc.,

Convertible

202,000

1.750%, 

11/1/2026

185,739

Total

6,035,133

Transportation

(0.6%)

Air

Transport

Services

Group,

Inc.,

Convertible

137,000

3.875%, 

8/15/2029

f

134,465

Allegiant

Travel

Company

46,000

7.250%, 

8/15/2027

f

43,298

American

Airlines

Group,

Inc.

17,000

3.750%, 

3/1/2025

f

16,105

American

Airlines,

Inc.

156,000

11.750%, 

7/15/2025

f

167,699

42,000

7.250%, 

2/15/2028

f

40,156

American

Airlines,

Inc./

AAdvantage

Loyalty

IP,

Ltd.

147,583

5.500%, 

4/20/2026

f

144,139

Avis

Budget

Car

Rental,

LLC/Avis

Budget

Finance,

Inc.

35,000

5.375%, 

3/1/2029

f

31,107

Canadian

Pacific

Railway

Company

83,000

1.750%, 

12/2/2026

74,051

CSX

Corporation

45,000

4.250%, 

3/15/2029

42,623

Delta

Air

Lines,

Inc.

82,000

4.375%, 

4/19/2028

i

75,369

Delta

Air

Lines,

Inc./SkyMiles

IP,

Ltd.

71,912

4.500%, 

10/20/2025

f

69,848

ERAC

USA

Finance,

LLC

84,000

3.850%, 

11/15/2024

f

82,038

Hawaiian

Brand

Intellectual

Property,

Ltd.

80,000

5.750%, 

1/20/2026

f

71,989

Hertz

Corporation

45,000

4.625%, 

12/1/2026

f

39,881

84,000

5.000%, 

12/1/2029

f

65,765

JetBlue

Airways

Corporation,

Convertible

162,000

0.500%, 

4/1/2026

125,242

Mileage

Plus

Holdings,

LLC

88,500

6.500%, 

6/20/2027

f

87,686

Norfolk

Southern

Corporation

64,000

4.450%, 

3/1/2033

58,443

Penske

Truck

Leasing

Company,

LP/PTL

Finance

Corporation

35,000

1.200%, 

11/15/2025

f

31,484

35,000

5.750%, 

5/24/2026

f

34,485

47,000

1.700%, 

6/15/2026

f

41,667

Rand

Parent,

LLC

61,000

8.500%, 

2/15/2030

f

56,431

Ryder

System,

Inc.

37,000

2.850%, 

3/1/2027

33,667

Southwest

Airlines

Company

42,000

5.125%, 

6/15/2027

40,952

45,000

2.625%, 

2/10/2030

37,075

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Transportation

(0.6%)

-

continued

Southwest

Airlines

Company,

Convertible

$

286,000

1.250%, 

5/1/2025

i

$

283,855

Union

Pacific

Corporation

45,000

2.150%, 

2/5/2027

40,621

United

Airlines,

Inc.

55,000

4.375%, 

4/15/2026

f

50,863

46,000

4.625%, 

4/15/2029

f

39,538

VistaJet

Malta

Finance

plc/Vista

Management

Holding,

Inc.

17,000

7.875%, 

5/1/2027

f,i

14,641

75,000

6.375%, 

2/1/2030

f

57,927

XPO

Escrow

Sub,

LLC

62,000

7.500%, 

11/15/2027

f

62,684

Total

2,195,794

U.S.

Government

&

Agencies

(4.8%)

U.S.

Treasury

Bonds

900,000

4.000%, 

11/15/2052

797,695

2,190,000

3.250%, 

5/15/2042

1,745,156

4,510,000

3.375%, 

8/15/2042

3,654,157

U.S.

Treasury

Notes

2,830,000

0.125%, 

2/15/2024

2,775,169

1,550,000

0.500%, 

3/31/2025

1,444,346

1,620,000

0.500%, 

2/28/2026

1,458,506

870,000

0.500%, 

4/30/2027

750,103

1,550,000

1.125%, 

2/29/2028

1,333,606

3,100,000

4.125%, 

7/31/2028

3,033,156

715,000

1.375%, 

11/15/2031

560,437

900,000

4.125%, 

11/15/2032

868,008

487,000

3.375%, 

5/15/2033

441,648

Total

18,861,987

Utilities

(1.3%)

AEP

Texas,

Inc.

45,000

4.700%, 

5/15/2032

41,178

AES

Corporation

72,000

3.950%, 

7/15/2030

f

62,058

Algonquin

Power

&

Utilities

Corporation

50,000

4.750%, 

1/18/2082

b

40,750

Alliant

Energy

Corporation,

Convertible

110,000

3.875%, 

3/15/2026

f

106,260

Ameren

Corporation

45,000

1.750%, 

3/15/2028

38,140

American

Electric

Power

Company,

Inc.

63,000

2.031%, 

3/15/2024

61,823

44,000

2.300%, 

3/1/2030

35,356

20,000

5.625%, 

3/1/2033

19,353

American

Water

Capital

Corporation,

Convertible

143,000

3.625%, 

6/15/2026

f

137,823

Arizona

Public

Service

Company

37,000

5.550%, 

8/1/2033

35,867

Calpine

Corporation

56,000

4.500%, 

2/15/2028

f

50,469

CenterPoint

Energy,

Inc.

34,000

2.500%, 

9/1/2024

32,918

56,000

1.450%, 

6/1/2026

50,157

67,000

2.650%, 

6/1/2031

53,513

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

41

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Utilities

(1.3%)

-

continued

CenterPoint

Energy,

Inc.,

Convertible

$

60,000

4.250%, 

8/15/2026

f

$

58,530

CMS

Energy

Corporation,

Convertible

144,000

3.375%, 

5/1/2028

f,i

135,000

Constellation

Energy

Generation,

LLC

41,000

5.800%, 

3/1/2033

39,976

Dominion

Energy,

Inc.

35,000

3.071%, 

8/15/2024

34,073

45,000

3.375%, 

4/1/2030

38,711

DTE

Energy

Company

65,000

4.220%, 

11/1/2024

63,788

42,000

4.875%, 

6/1/2028

40,590

Duke

Energy

Corporation

56,000

3.250%, 

1/15/2082

b

41,258

22,000

4.875%, 

9/16/2024

b,k

21,412

89,000

2.450%, 

6/1/2030

72,266

43,000

4.500%, 

8/15/2032

38,681

44,000

5.750%, 

9/15/2033

43,226

Duke

Energy

Corporation,

Convertible

344,000

4.125%, 

4/15/2026

f

333,852

Edison

International

54,000

4.950%, 

4/15/2025

52,921

55,000

5.000%, 

12/15/2026

b,k

47,007

Enel

Finance

International

NV

93,000

1.375%, 

7/12/2026

f

82,128

Entergy

Corporation

34,000

0.900%, 

9/15/2025

30,870

45,000

1.900%, 

6/15/2028

38,004

Evergy,

Inc.

34,000

2.450%, 

9/15/2024

32,845

Eversource

Energy

90,000

4.600%, 

7/1/2027

86,562

40,000

5.125%, 

5/15/2033

37,205

Exelon

Corporation

45,000

4.050%, 

4/15/2030

40,500

Fells

Point

Funding

Trust

100,000

3.046%, 

1/31/2027

f

90,678

FirstEnergy

Corporation,

Convertible

207,000

4.000%, 

5/1/2026

f

199,237

Florida

Power

&

Light

Company

42,000

4.400%, 

5/15/2028

40,498

Georgia

Power

Company

25,000

4.950%, 

5/17/2033

23,433

ITC

Holdings

Corporation

43,000

4.950%, 

9/22/2027

f

41,895

Jersey

Central

Power

&

Light

Company

80,000

2.750%, 

3/1/2032

f

62,651

National

Rural

Utilities

Cooperative

Finance

Corporation

75,000

3.450%, 

6/15/2025

72,164

37,000

5.050%, 

9/15/2028

36,349

NextEra

Energy

Capital

Holdings,

Inc.

31,000

3.800%, 

3/15/2082

b

26,242

40,000

6.051%, 

3/1/2025

40,061

60,000

5.749%, 

9/1/2025

59,831

45,000

2.250%, 

6/1/2030

36,026

Principal

Amount

Long-Term

Fixed

Income

(44.0%)

Value

Utilities

(1.3%)

-

continued

NextEra

Energy

Operating

Partners,

LP

$

125,000

3.875%, 

10/15/2026

f

$

113,177

NextEra

Energy

Partners,

LP,

Convertible

52,000

Zero

Coupon, 

6/15/2024

f,i

49,322

208,000

Zero

Coupon, 

11/15/2025

f

173,680

NiSource,

Inc.

45,000

2.950%, 

9/1/2029

38,785

NRG

Energy,

Inc.

34,000

2.000%, 

12/2/2025

f

30,768

46,000

10.250%, 

3/15/2028

b,f,k

45,053

24,000

3.375%, 

2/15/2029

f

19,425

35,000

5.250%, 

6/15/2029

f

30,897

NRG

Energy,

Inc.,

Convertible

254,000

2.750%, 

6/1/2048

268,732

PG&E

Corporation

65,000

5.000%, 

7/1/2028

i

58,876

PPL

Capital

Funding,

Inc.,

Convertible

176,000

2.875%, 

3/15/2028

f

160,160

Public

Service

Enterprise

Group,

Inc.

45,000

1.600%, 

8/15/2030

34,523

Sempra

84,000

4.875%, 

10/15/2025

b,k

79,589

56,000

3.400%, 

2/1/2028

50,970

Southern

California

Edison

Company

21,000

5.950%, 

11/1/2032

20,944

Southern

Company

44,000

4.475%, 

8/1/2024

43,362

53,000

5.700%, 

10/15/2032

52,058

35,000

4.000%, 

1/15/2051

b

32,374

109,000

3.750%, 

9/15/2051

b

95,069

Southern

Company,

Convertible

342,000

3.875%, 

12/15/2025

f

332,424

Talen

Energy

Supply,

LLC

55,000

8.625%, 

6/1/2030

f

56,381

TerraForm

Power

Operating,

LLC

104,000

5.000%, 

1/31/2028

f

94,380

Vistra

Operations

Company,

LLC

88,000

5.125%, 

5/13/2025

f

85,749

132,000

5.000%, 

7/31/2027

f

121,359

Xcel

Energy,

Inc.

45,000

4.000%, 

6/15/2028

42,099

64,000

4.600%, 

6/1/2032

58,077

Total

5,092,368

Total

Long-Term

Fixed

Income

(cost

$188,333,388)

174,152,261

Shares

Common

Stock

(

31.6%

)

Value

Communications

Services

(2.4%)

4,940

Alphabet,

Inc.,

Class

A

m

646,449

25,881

Alphabet,

Inc.,

Class

C

m

3,412,410

22,839

Comcast

Corporation

1,012,681

23,617

DISH

Network

Corporation

m

138,396

625

Emerald

Holding,

Inc.

m

2,825

352

Liberty

Latin

America,

Ltd.,

Class

A

m

2,872

6,777

Meta

Platforms,

Inc.

m

2,034,523

929

Netflix,

Inc.

m

350,790

19,211

QuinStreet,

Inc.

m

172,323

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

42

Shares

Common

Stock

(31.6%)

Value

Communications

Services

(2.4%)

-

continued

32,994

Verizon

Communications,

Inc.

$

1,069,336

3,687

Walt

Disney

Company

m

298,831

22,120

Warner

Brothers

Discovery,

Inc.

m

240,223

316

Windstream

Services,

LLC

m

3,002

4,051

Ziff

Davis,

Inc.

m

258,008

Total

9,642,669

Consumer

Discretionary

(3.4%)

21,638

Amazon.com,

Inc.

m

2,750,623

7,027

Aptiv

plc

m

692,792

1,480

Bloomin'

Brands,

Inc.

36,393

301

Booking

Holdings,

Inc.

m

928,269

1,349

Boot

Barn

Holdings,

Inc.

m

109,525

5,140

Cedar

Fair,

LP

190,180

220

Chipotle

Mexican

Grill,

Inc.

m

403,003

9,624

Clarus

Corporation

72,757

2,992

Columbia

Sportswear

Company

221,707

12,855

Cooper-Standard

Holdings,

Inc.

m

172,514

3,296

Crocs,

Inc.

m

290,806

3,007

D.R.

Horton,

Inc.

323,162

1,433

Domino's

Pizza,

Inc.

542,806

11,562

Everi

Holdings,

Inc.

m

152,850

499

Ford

Motor

Company

6,198

5,755

General

Motors

Company

189,742

1,143

Grand

Canyon

Education,

Inc.

m

133,594

1,566

Hilton

Worldwide

Holdings,

Inc.

235,182

3,691

Home

Depot,

Inc.

1,115,273

3,263

Lowe's

Companies,

Inc.

678,182

623

Lululemon

Athletica,

Inc.

m

240,235

172

Marriott

International,

Inc./MD

33,808

1,155

McDonald's

Corporation

304,273

741

Meritage

Homes

Corporation

90,691

94

NVR,

Inc.

m

560,550

429

O'Reilly

Automotive,

Inc.

m

389,901

2,301

Papa

John's

International,

Inc.

156,974

5,055

Skyline

Champion

Corporation

m

322,105

7,095

Sonos,

Inc.

m

91,597

4,769

Sony

Group

Corporation

ADR

393,013

10,554

Stoneridge,

Inc.

m

211,819

5,013

Tesla,

Inc.

m

1,254,353

28,626

ThredUp,

Inc.

m

114,790

Total

13,409,667

Consumer

Staples

(1.8%)

4,965

Altria

Group,

Inc.

208,778

846

Archer-Daniels-Midland

Company

63,805

6,575

BJ's

Wholesale

Club

Holdings,

Inc.

m

469,258

1,189

Casey's

General

Stores,

Inc.

322,837

10,445

Coca-Cola

Company

584,711

3,463

Colgate-Palmolive

Company

246,254

30,763

Coty,

Inc.

m

337,470

2,339

John

B.

Sanfilippo

&

Son,

Inc.

231,093

11,839

Kenvue,

Inc.

237,727

3,172

Kimberly-Clark

Corporation

383,336

4,009

Lamb

Weston

Holdings,

Inc.

370,672

3,704

Mondelez

International,

Inc.

257,058

97

PepsiCo,

Inc.

16,436

7,770

Philip

Morris

International,

Inc.

719,347

7,660

Pilgrim's

Pride

Corporation

m

174,878

16,472

Primo

Water

Corporation

227,314

1,688

Procter

&

Gamble

Company

246,212

5,943

Sysco

Corporation

392,535

6,282

Turning

Point

Brands,

Inc.

145,051

3,785

Tyson

Foods,

Inc.

191,105

Shares

Common

Stock

(31.6%)

Value

Consumer

Staples

(1.8%)

-

continued

5,491

US

Foods

Holding

Corporation

m

$

217,993

7,435

Walmart,

Inc.

1,189,079

Total

7,232,949

Energy

(1.7%)

9,396

BP

plc

ADR

363,813

567

Cheniere

Energy,

Inc.

94,099

3,731

Chesapeake

Energy

Corporation

321,724

1,974

Chevron

Corporation

332,856

6,206

ConocoPhillips

743,479

10,881

Devon

Energy

Corporation

519,024

18,499

Enterprise

Products

Partners,

LP

506,318

239

EQT

Corporation

9,698

9,024

Exxon

Mobil

Corporation

1,061,042

13,379

Halliburton

Company

541,849

4,770

Marathon

Petroleum

Corporation

721,892

23,973

NOV,

Inc.

501,036

4,045

Permian

Resources

Corporation

56,468

3,449

Pioneer

Natural

Resources

Company

791,718

6,346

TechnipFMC

plc

129,078

465

Viper

Energy

Partners,

LP

12,964

Total

6,707,058

Financials

(4.7%)

1,746

Allstate

Corporation

194,522

20,184

Ally

Financial,

Inc.

538,509

3,841

American

Express

Company

573,039

6,845

American

International

Group,

Inc.

414,807

1,670

Ameriprise

Financial,

Inc.

550,566

6,770

Arch

Capital

Group,

Ltd.

m

539,637

25,319

Bank

of

America

Corporation

693,234

107

Bank

of

Marin

Bancorp

1,956

5,380

Bank

of

N.T.

Butterfield

&

Son,

Ltd.

145,690

10,093

Bank

of

New

York

Mellon

Corporation

430,466

1,533

Berkshire

Hathaway,

Inc.

m

537,010

300

BlackRock

TCP

Capital

Corporation

3,522

259

BlackRock,

Inc.

167,441

714

Blackstone

Mortgage

Trust,

Inc.

15,529

12,585

Bridgewater

Bancshares,

Inc.

m

119,306

3,415

Byline

Bancorp,

Inc.

67,310

2,634

Capital

One

Financial

Corporation

255,630

1,597

Central

Pacific

Financial

Corporation

26,638

6,568

Charles

Schwab

Corporation

360,583

3,381

Chubb,

Ltd.

703,857

1,198

Cincinnati

Financial

Corporation

122,543

2,156

Citigroup,

Inc.

88,676

1,306

Citizens

Financial

Group,

Inc.

35,001

6,429

Comerica,

Inc.

267,125

656

Community

Trust

Bancorp,

Inc.

22,475

451

Dime

Community

Bancshares,

Inc.

9,002

2,399

Discover

Financial

Services

207,825

296

Eagle

Bancorp,

Inc.

6,349

1,172

Ellington

Residential

Mortgage

REIT

7,278

691

Encore

Capital

Group,

Inc.

m

33,002

730

FactSet

Research

Systems,

Inc.

319,200

4,426

Federated

Hermes,

Inc.

149,909

212

Financial

Institutions,

Inc.

3,568

1,882

First

Horizon

Corporation

20,740

148

First

Mid-Illinois

Bancshares,

Inc.

3,931

1,025

Fiserv,

Inc.

m

115,784

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

43

Shares

Common

Stock

(31.6%)

Value

Financials

(4.7%)

-

continued

119

FS

KKR

Capital

Corporation

$

2,343

3,069

Glacier

Bancorp,

Inc.

87,466

262

Golub

Capital

BDC,

Inc.

3,844

516

Great

Southern

Bancorp,

Inc.

24,727

1,610

Hanmi

Financial

Corporation

26,130

7,555

Heartland

Financial

USA,

Inc.

222,344

450

Heritage

Financial

Corporation

7,339

547

Hometrust

Bancshares,

Inc.

11,853

3,349

Hope

Bancorp,

Inc.

29,639

2,859

Houlihan

Lokey,

Inc.

306,256

301

Independent

Bank

Corporation/MI

5,520

8,808

Intercontinental

Exchange,

Inc.

969,056

9,759

J.P.

Morgan

Chase

&

Company

1,415,250

684

Janus

Henderson

Group

plc

17,661

2,173

Kinsale

Capital

Group,

Inc.

899,904

449

Loews

Corporation

28,426

2,686

M&T

Bank

Corporation

339,645

252

Marsh

&

McLennan

Companies,

Inc.

47,956

3,312

Mastercard,

Inc.

1,311,254

5,703

MetLife,

Inc.

358,776

338

Metropolitan

Bank

Holding

Corporation

m

12,263

3,125

MGIC

Investment

Corporation

52,156

1,106

MidWestOne

Financial

Group,

Inc.

22,485

3,189

Morgan

Stanley

260,446

3,963

Nasdaq,

Inc.

192,562

2,310

New

York

Community

Bancorp,

Inc.

26,195

4,007

NU

Holdings,

Ltd./Cayman

Islands

m

29,051

12,664

PayPal

Holdings,

Inc.

m

740,337

78

PNC

Financial

Services

Group,

Inc.

9,576

7,398

Radian

Group,

Inc.

185,764

6,373

Raymond

James

Financial,

Inc.

640,040

2,764

RLI

Corporation

375,600

199

SEI

Investments

Company

11,986

3,888

Triumph

Financial,

Inc.

m

251,904

229

TrustCo

Bank

Corporation

NY

6,249

336

U.S.

Bancorp

11,108

193

Veritex

Holdings,

Inc.

3,464

290

Visa,

Inc.

66,703

5,184

Voya

Financial,

Inc.

344,477

22,201

Wells

Fargo

&

Company

907,133

11,434

Western

Alliance

Bancorp

525,621

7,329

Zions

Bancorp

NA

255,709

Total

18,797,878

Health

Care

(3.9%)

4,421

Abbott

Laboratories

428,174

1,568

Agilent

Technologies,

Inc.

175,334

149

Agiliti,

Inc.

m

967

1,399

Align

Technology,

Inc.

m

427,143

1,398

Amgen,

Inc.

375,726

3,125

AstraZeneca

plc

ADR

211,625

14,815

Avantor,

Inc.

m

312,300

5,884

Baxter

International,

Inc.

222,062

1,282

Biogen,

Inc.

m

329,487

2,603

Bio-Techne

Corporation

177,186

5,133

Centene

Corporation

m

353,561

1,820

Cigna

Group

520,647

4,852

CVS

Health

Corporation

338,767

2,807

Danaher

Corporation

696,417

441

Dentsply

Sirona,

Inc.

15,065

Shares

Common

Stock

(31.6%)

Value

Health

Care

(3.9%)

-

continued

3,748

Edwards

Lifesciences

Corporation

m

$

259,661

2,310

Elanco

Animal

Health,

Inc.

m

25,964

1,231

Elevance

Health,

Inc.

536,002

207

Eli

Lilly

&

Company

111,186

5,941

Enovis

Corporation

m

313,269

6,678

Gilead

Sciences,

Inc.

500,449

6,577

Halozyme

Therapeutics,

Inc.

m

251,241

1,342

HCA

Healthcare,

Inc.

330,105

1,174

Hologic,

Inc.

m

81,476

1,371

Intuitive

Surgical,

Inc.

m

400,730

3,497

Johnson

&

Johnson

544,658

3,102

Laboratory

Corporation

of

America

Holdings

623,657

1,766

Lantheus

Holdings,

Inc.

m

122,702

31,664

Maravai

LifeSciences

Holdings,

Inc.

m

316,640

9,346

Medtronic

plc

732,353

10,053

Merck

&

Company,

Inc.

1,034,956

1,057

Molina

Healthcare,

Inc.

m

346,580

3,858

Novo

Nordisk

AS

ADR

m

350,846

13,291

Pfizer,

Inc.

440,862

4,693

Progyny,

Inc.

m

159,656

1,842

QuidelOrtho

Corporation

m

134,540

5,262

R1

RCM,

Inc.

m

79,298

1,430

Sarepta

Therapeutics,

Inc.

m

173,345

840

Thermo

Fisher

Scientific,

Inc.

425,183

2,107

UnitedHealth

Group,

Inc.

1,062,328

287

Vertex

Pharmaceuticals,

Inc.

m

99,801

15,734

Viemed

Healthcare,

Inc.

m

105,890

780

Waters

Corporation

m

213,884

3,111

Zimmer

Biomet

Holdings,

Inc.

349,116

4,453

Zoetis,

Inc.

774,733

Total

15,485,572

Industrials

(4.1%)

3,684

Advanced

Drainage

Systems,

Inc.

419,350

8,814

Air

Lease

Corporation

347,360

1,744

AMETEK,

Inc.

257,693

358

Armstrong

World

Industries,

Inc.

25,776

3,886

ASGN,

Inc.

m

317,408

1,447

Automatic

Data

Processing,

Inc.

348,119

996

Axon

Enterprise,

Inc.

m

198,194

13,608

Badger

Infrastructure

Solutions,

Ltd.

347,551

6,389

Barnes

Group,

Inc.

217,034

301

Boise

Cascade

Company

31,015

904

Carlisle

Companies,

Inc.

234,371

136

Caterpillar,

Inc.

37,128

3,534

Cimpress

plc

m

247,415

204

Cintas

Corporation

98,126

24,881

CNH

Industrial

NV

301,060

19,086

CSX

Corporation

586,895

963

Cummins,

Inc.

220,007

799

Curtiss-Wright

Corporation

156,308

510

Deere

&

Company

192,464

9,892

Delta

Air

Lines,

Inc.

366,004

6,574

ExlService

Holdings,

Inc.

m

184,335

11,684

Fastenal

Company

638,414

1,609

Ferguson

plc

264,632

6,937

Flowserve

Corporation

275,885

6,495

Fluor

Corporation

m

238,367

2,161

General

Dynamics

Corporation

477,516

137

Gibraltar

Industries,

Inc.

m

9,249

87

Gorman-Rupp

Company

2,862

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

44

Shares

Common

Stock

(31.6%)

Value

Industrials

(4.1%)

-

continued

4,873

Greenbrier

Companies,

Inc.

$

194,920

5,183

Helios

Technologies,

Inc.

287,553

1,563

Honeywell

International,

Inc.

288,749

11,203

Howmet

Aerospace,

Inc.

518,139

178

Hubbell,

Inc.

55,787

18,774

Janus

International

Group,

Inc.

m

200,882

1,198

JB

Hunt

Transport

Services,

Inc.

225,847

3,857

Johnson

Controls

International

plc

205,231

2,052

L3Harris

Technologies,

Inc.

357,294

1,156

Lincoln

Electric

Holdings,

Inc.

210,149

3,744

ManpowerGroup,

Inc.

274,510

813

Masco

Corporation

43,455

15,192

Masterbrand,

Inc.

m

184,583

3,572

Maximus,

Inc.

266,757

4,974

Miller

Industries,

Inc.

195,031

1,417

Moog,

Inc.

160,064

811

Northrop

Grumman

Corporation

356,994

1,297

Old

Dominion

Freight

Line,

Inc.

530,655

1,862

Oshkosh

Corporation

177,691

1,544

Owens

Corning,

Inc.

210,617

1,573

Parker-Hannifin

Corporation

612,715

2,532

Pentair

plc

163,947

1,599

Quanta

Services,

Inc.

299,125

3,785

RB

Global,

Inc.

236,562

9,693

Schneider

National,

Inc.

268,399

595

Simpson

Manufacturing

Company,

Inc.

89,137

3,062

Tennant

Company

227,047

5,719

Timken

Company

420,289

12,395

Uber

Technologies,

Inc.

m

570,046

3,372

United

Parcel

Service,

Inc.

525,594

1,986

United

Rentals,

Inc.

882,916

Total

16,281,223

Information

Technology

(6.6%)

1,717

Adobe,

Inc.

m

875,498

5,144

Advanced

Micro

Devices,

Inc.

m

528,906

1,831

Amphenol

Corporation

153,786

834

ANSYS,

Inc.

m

248,157

17,764

Apple,

Inc.

3,041,374

3,558

Applied

Materials,

Inc.

492,605

979

Autodesk,

Inc.

m

202,565

56

Broadcom,

Inc.

46,512

1,869

Calix,

Inc.

m

85,675

8,146

Ciena

Corporation

m

384,980

37,592

Cisco

Systems,

Inc.

2,020,946

5,865

Cohu,

Inc.

m

201,991

2,137

Crane

NXT

Company

118,753

18,599

Dropbox,

Inc.

m

506,451

1,520

Enphase

Energy,

Inc.

m

182,628

1,325

FormFactor,

Inc.

m

46,295

3,648

Fortinet,

Inc.

m

214,065

12,955

Gilat

Satellite

Networks,

Ltd.

m

83,301

2,741

Guidewire

Software,

Inc.

m

246,690

691

Insight

Enterprises,

Inc.

m

100,540

386

KLA

Corporation

177,043

13,897

Knowles

Corporation

m

205,815

146

Lam

Research

Corporation

91,508

802

Littelfuse,

Inc.

198,351

1,304

Microchip

Technology,

Inc.

101,777

16,874

Microsoft

Corporation

5,327,965

526

NetApp,

Inc.

39,913

1,427

NICE,

Ltd.

ADR

i,m

242,590

5,686

NVIDIA

Corporation

2,473,353

3,583

ON

Semiconductor

Corporation

m

333,040

Shares

Common

Stock

(31.6%)

Value

Information

Technology

(6.6%)

-

continued

3,069

Plexus

Corporation

m

$

285,356

11,980

QUALCOMM,

Inc.

1,330,499

211

Roper

Industries,

Inc.

102,183

4,351

Salesforce,

Inc.

m

882,296

12,927

Samsung

Electronics

Company,

Ltd.

653,513

1,308

ServiceNow,

Inc.

m

731,120

1,270

Silicon

Laboratories,

Inc.

m

147,180

3,302

Sprout

Social,

Inc.

m

164,704

2,048

TE

Connectivity,

Ltd.

252,989

4,022

Texas

Instruments,

Inc.

639,538

4,144

Trimble,

Inc.

m

223,196

35,065

TTM

Technologies,

Inc.

m

451,637

807

Tyler

Technologies,

Inc.

m

311,615

583

Universal

Display

Corporation

91,525

4,525

Varonis

Systems,

Inc.

m

138,193

1,043

VeriSign,

Inc.

m

211,239

487

Western

Digital

Corporation

m

22,222

4,371

Wolfspeed,

Inc.

m

166,535

1,575

Workiva,

Inc.

m

159,611

Total

25,938,224

Materials

(1.2%)

4,780

Alcoa

Corporation

138,907

772

Allegheny

Technologies,

Inc.

m

31,768

12,551

Axalta

Coating

Systems,

Ltd.

m

337,622

6,929

Ball

Corporation

344,925

1,492

Berry

Plastics

Group,

Inc.

92,370

2,953

Carpenter

Technology

Corporation

198,471

5,371

CF

Industries

Holdings,

Inc.

460,509

113

Eagle

Materials,

Inc.

18,817

3,610

Eastman

Chemical

Company

276,959

4,958

Ingevity

Corporation

m

236,050

17,097

Ivanhoe

Mines,

Ltd.

m

146,519

575

Linde

plc

214,101

4,574

Nucor

Corporation

715,145

3,535

PPG

Industries,

Inc.

458,843

4,435

Steel

Dynamics,

Inc.

475,521

17,009

Tronox

Holdings

plc

228,601

1,574

United

States

Lime

&

Minerals,

Inc.

316,374

Total

4,691,502

Real

Estate

(0.9%)

4,290

Agree

Realty

Corporation

236,980

2,528

Alexandria

Real

Estate

Equities,

Inc.

253,053

1,739

AvalonBay

Communities,

Inc.

298,656

1,483

Camden

Property

Trust

140,262

2,396

CBRE

Group,

Inc.

m

176,969

29,231

Cushman

and

Wakefield

plc

m

222,740

847

Equity

Residential

49,727

19,456

Healthcare

Realty

Trust,

Inc.

297,093

20,322

Host

Hotels

&

Resorts,

Inc.

326,575

14,504

Independence

Realty

Trust,

Inc.

204,071

533

Kite

Realty

Group

Trust

11,417

873

Mid-America

Apartment

Communities,

Inc.

112,311

9,632

National

Storage

Affiliates

Trust

305,720

1,073

Public

Storage

282,757

3,208

SBA

Communications

Corporation

642,145

3,038

UDR,

Inc.

108,365

Total

3,668,841

Utilities

(0.9%)

5,872

Alliant

Energy

Corporation

284,498

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

45

Shares

Common

Stock

(31.6%)

Value

Utilities

(0.9%)

-

continued

3,437

American

Electric

Power

Company,

Inc.

$

258,531

1,382

Black

Hills

Corporation

69,915

7,562

CenterPoint

Energy,

Inc.

203,040

5,249

Constellation

Energy

Corporation

572,561

4,547

Duke

Energy

Corporation

401,318

2,795

Entergy

Corporation

258,538

2,510

Evergy,

Inc.

127,257

24,311

NiSource,

Inc.

599,996

1,623

NorthWestern

Corporation

78,001

377

OGE

Energy

Corporation

12,566

3,358

Portland

General

Electric

Company

135,932

4,932

Public

Service

Enterprise

Group,

Inc.

280,680

2,231

Spire,

Inc.

126,230

Total

3,409,063

Total

Common

Stock

(cost

$98,529,107)

125,264,646

Shares

Registered

Investment

Companies

(

12.7%

)

Value

U.S.

Affiliated  (12.2%)

2,557,513

Thrivent

Core

Emerging

Markets

Debt

Fund

18,951,169

3,099,797

Thrivent

Core

International

Equity

Fund

29,231,085

Total

48,182,254

U.S.

Unaffiliated  (0.5%)

24,445

Aberdeen

Asia-Pacific

Income

Fund,

Inc.

59,890

8,827

AllianceBernstein

Global

High

Income

Fund,

Inc.

85,622

13,658

Allspring

Income

Opportunities

Fund

83,314

3,230

BlackRock

Core

Bond

Trust

32,106

8,516

BlackRock

Corporate

High

Yield

Fund,

Inc.

73,493

8,106

BlackRock

Credit

Allocation

Income

Trust

78,466

2,170

BlackRock

Debt

Strategies

Fund,

Inc.

22,286

8,376

BlackRock

Enhanced

Global

Dividend

Trust

78,986

2,050

BlackRock

Enhanced

International

Dividend

Trust

10,230

265

BlackRock

Floating

Rate

Income

Strategies

Fund,

Inc.

3,344

1,349

BlackRock

Income

Trust,

Inc.

15,352

4,605

BlackRock

Multi-Sector

Income

Trust

66,635

6,571

Blackstone

Strategic

Credit

2027

Term

Fund

72,215

8,342

Eaton

Vance

Limited

Duration

Income

Fund

75,412

614

Eaton

Vance

Tax-Managed

Global

Diversified

Equity

Income

Fund

4,525

7,249

First

Trust

High

Income

Long/Short

Fund

77,709

2,159

Invesco

Dynamic

Credit

Opportunities

Fund

c,m

22,727

1,431

iShares

Biotechnology

ETF

i

174,997

Shares

Registered

Investment

Companies

(12.7%)

Value

U.S.

Unaffiliated  (0.5%)-

continued

18,550

Nuveen

Credit

Strategies

Income

Fund

$

93,863

2,750

Nuveen

Preferred

Income

Opportunities

Fund

17,408

2,325

Nuveen

Quality

Preferred

Income

Fund

II

14,345

7,599

PGIM

Global

High

Yield

Fund,

Inc.

81,917

7,795

PGIM

High

Yield

Bond

Fund,

Inc.

91,825

2,015

Pimco

Dynamic

Income

Fund

34,819

3,136

SPDR

Bloomberg

High

Yield

Bond

ETF

i

283,495

2,264

SPDR

S&P

Biotech

ETF

i

165,317

824

Tri-Continental

Corporation

21,910

3,800

Vanguard

Short-Term

Corporate

Bond

ETF

285,570

2,400

Virtus

Convertible

&

Income

Fund

7,464

4,590

Virtus

Dividend,

Interest

&

Premium

Strategy

Fund

i

52,005

725

Virtus

Equity

&

Convertible

Income

Fund

i

14,420

11,519

Voya

Global

Equity

Dividend

&

Premium

Opportunity

Fund

56,443

18,141

Western

Asset

High

Income

Opportunity

Fund,

Inc.

66,033

Total

2,324,143

Total

Registered

Investment

Companies

(cost

$56,018,158)

50,506,397

Shares

Collateral

Held

for

Securities

Loaned

(

1.0%

)

Value

3,786,834

Thrivent

Cash

Management

Trust

3,786,834

Total

Collateral

Held

for

Securities

Loaned

(cost

$3,786,834)

3,786,834

Shares

Preferred

Stock

(

0.8%

)

Value

Communications

Services

(0.1%)

7,800

AT&T,

Inc.,

4.750%

k

149,604

1,219

Paramount

Global,

Convertible,

5.750%

21,637

3,500

Telephone

and

Data

Systems,

Inc.,

6.000%

k

47,775

Total

219,016

Energy

(<0.1%)

3,364

Crestwood

Equity

Partners,

LP,

9.250%

k

32,664

1,600

Energy

Transfer,

LP,

7.600%

b,k

39,088

1,536

Nustar

Logistics,

LP,

12.304%

b

39,491

351

UGI

Corporation,

Convertible,

7.250%

20,056

Total

131,299

Financials

(0.5%)

2,750

Aegon

Funding

Corporation

II,

5.100%

54,615

2,700

Allstate

Corporation,

5.100%

k

52,758

5,215

Apollo

Global

Management,

Inc.,

Convertible,

6.750%

m

287,346

6,175

Bank

of

America

Corporation,

4.250%

k

105,284

274

Bank

of

America

Corporation,

Convertible,

7.250%

k

304,746

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

46

Shares

Preferred

Stock

(0.8%)

Value

Financials

(0.5%)

-

continued

5,525

Capital

One

Financial

Corporation,

5.000%

k

$

103,428

2,875

Equitable

Holdings,

Inc.,

5.250%

k

56,637

140

First

Horizon

Bank,

6.393%

*,b,k

92,913

4,400

J.P.

Morgan

Chase

&

Company,

4.200%

k

79,640

3,350

J.P.

Morgan

Chase

&

Company,

4.750%

k

68,641

3,500

KeyCorp,

6.200%

b,k

69,090

2,850

Morgan

Stanley,

4.250%

k

48,592

2,630

Morgan

Stanley,

5.850%

b,k

61,095

3,100

Morgan

Stanley,

7.125%

b,k

79,546

2,850

Public

Storage

Operating

Company,

4.125%

k

51,215

1,300

Public

Storage

Operating

Company,

4.625%

k

25,610

325

Public

Storage

Operating

Company,

4.700%

k

6,360

825

Regions

Financial

Corporation,

5.700%

b,k

16,170

775

Synovus

Financial

Corporation,

5.875%

b,k

16,686

2,850

U.S.

Bancorp,

4.000%

k

45,629

5,000

Wells

Fargo

&

Company,

4.250%

k

83,450

322

Wells

Fargo

&

Company,

Convertible,

7.500%

k

359,030

Total

2,068,481

Utilities

(0.2%)

3,398

AES

Corporation,

Convertible,

6.875%

207,278

3,900

CMS

Energy

Corporation,

4.200%

k

77,298

5,533

NextEra

Energy,

Inc.,

Convertible,

6.926%

i

209,314

920

NiSource,

Inc.,

Convertible,

7.750%

89,654

3,425

Southern

Company,

4.950%

72,096

Total

655,640

Total

Preferred

Stock

(cost

$3,780,836)

3,074,436

Shares

or

Principal

Amount

Short-Term

Investments

(

6.2%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

400,000

5.285%,

11/15/2023

n,o

397,499

1,100,000

5.300%,

12/6/2023

n,o

1,089,828

300,000

5.315%,

12/13/2023

n,o

296,929

800,000

5.315%,

12/15/2023

n,o

791,583

Thrivent

Core

Short-Term

Reserve

Fund

2,167,342

5.650%

21,673,423

U.S.

Treasury

Bills

100,000

5.267%,

11/21/2023

n,p

99,262

Total

Short-Term

Investments

(cost

$24,338,674)

24,348,524

Total

Investments

(cost

$398,350,744)

102.3%

$404,733,925

Other

Assets

and

Liabilities,

Net

(2.3%)

(8,979,958)

Total

Net

Assets

100.0%

$395,753,967

a

The

stated

interest

rate

represents

the

weighted

average

of

all

contracts

within

the

bank

loan

facility.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

September

29,

2023.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

All

or

a

portion

of

the

loan

is

unfunded.

e

Denotes

investments

purchased

on

a

when-issued

or

delayed-delivery

basis.

f

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$55,581,926

or

14.0%

of

total

net

assets.

g

Denotes

step

coupon

securities.

Step

coupon

securities

pay

an

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

is

as

of

September

29,

2023.

h

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

i

All

or

a

portion

of

the

security

is

on

loan.

j

Denotes

interest

only

security.  Interest

only

securities

represent

the

right

to

receive

monthly

interest

payments

on

an

underlying

pool

of

mortgages

or

assets.  The

principal

shown

is

the

outstanding

par

amount

of

the

pool

as

of

the

end

of

the

period.

The

actual

effective

yield

of

the

security

is

different

than

the

stated

coupon

rate.

k

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

l

Defaulted

security.  Interest

is

not

being

accrued.

m

Non-income

producing

security.

n

The

interest

rate

shown

reflects

the

yield.

o

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

p

All

or

a

portion

of

the

security

is

pledged

as

collateral

under

the

agreement

between

the

counterparty,

the

custodian

and

the

fund

for

open

swap

contracts.

*

Denotes

restricted

securities.

Restricted

securities

are

investment

securities

which

cannot

be

offered

for

public

sale

without

first

being

registered

under

the

Securities

Act

of

1933.

The

value

of

all

restricted

securities

held

in

Balanced

Income

Plus

Portfolio

as

of

September

29,

2023

was

$95,003

or

0.02%

of

total

net

assets.

The

following

table

indicates

the

acquisition

date

and

cost

of

restricted

securities

shown

in

the

schedule

as

of

September

29,

2023.

Security

Acquisition

Date

Cost

Credit

Suisse

Group

AG,

12/29/2049

1/31/2014

$

23,139

First

Horizon

Bank,

6.393%,

3/5/2019

6/21/2017

107,380

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

47

x

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Balanced

Income

Plus

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

2,814,998

Common

Stock

861,695

Total

lending

$3,676,693

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$3,786,834

Net

amounts

due

to

counterparty

$110,141

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

CLO

-

Collateralized

Loan

Obligation

ETF

-

Exchange

Traded

Fund

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Reference

Rate

Index:

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

PRIME

-

Federal

Reserve

Prime

Loan

Rate

SOFR30A

-

Secured

Overnight

Financing

Rate

30

Year

Average

SOFRRATE

-

Secured

Overnight

Financing

Rate

TSFR1M

-

CME

Term

SOFR

1

Month

TSFR3M

-

CME

Term

SOFR

3

Month

TSFR6M

-

CME

Term

SOFR

6

Month

USISOA05

-

USD

SOFR

Spread-Adjusted

ICE

Swap

Rate

5

Year

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

48

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Balanced

Income

Plus

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Bank

Loans

Basic

Materials

736,617

–

652,500

84,117

Capital

Goods

2,461,937

–

2,224,182

237,755

Communications

Services

3,431,325

–

3,431,325

–

Consumer

Cyclical

4,127,778

–

4,127,778

–

Consumer

Non-Cyclical

3,858,604

–

3,700,711

157,893

Energy

544,899

–

544,899

–

Financials

1,911,221

–

1,911,221

–

Technology

4,906,045

–

4,906,045

–

Transportation

1,355,445

–

1,355,445

–

Utilities

266,956

–

266,956

–

Long-Term

Fixed

Income

Asset-Backed

Securities

17,185,103

–

17,185,103

–

Basic

Materials

2,716,620

–

2,716,620

–

Capital

Goods

5,326,531

–

5,326,531

–

Collateralized

Mortgage

Obligations

14,236,875

–

14,236,875

–

Commercial

Mortgage-Backed

Securities

1,743,554

–

1,743,554

–

Communications

Services

5,788,302

–

5,788,302

–

Consumer

Cyclical

8,729,303

–

8,729,303

–

Consumer

Non-Cyclical

7,755,056

–

7,755,056

–

Energy

6,453,628

–

6,453,628

–

Financials

20,781,625

–

20,781,625

–

Foreign

Government

66,088

–

66,088

–

Mortgage-Backed

Securities

51,184,294

–

51,184,294

–

Technology

6,035,133

–

6,035,133

–

Transportation

2,195,794

–

2,195,794

–

U.S.

Government

&

Agencies

18,861,987

–

18,861,987

–

Utilities

5,092,368

–

5,092,368

–

Common

Stock

Communications

Services

9,642,669

9,639,667

3,002

–

Consumer

Discretionary

13,409,667

13,409,667

–

–

Consumer

Staples

7,232,949

7,232,949

–

–

Energy

6,707,058

6,707,058

–

–

Financials

18,797,878

18,797,878

–

–

Health

Care

15,485,572

15,485,572

–

–

Industrials

16,281,223

15,933,672

347,551

–

Information

Technology

25,938,224

25,284,711

653,513

–

Materials

4,691,502

4,544,983

146,519

–

Real

Estate

3,668,841

3,668,841

–

–

Utilities

3,409,063

3,409,063

–

–

Preferred

Stock

Communications

Services

219,016

219,016

–

–

Energy

131,299

131,299

–

–

Financials

2,068,481

1,975,568

92,913

–

Utilities

655,640

655,640

–

–

Registered

Investment

Companies

U.S.

Unaffiliated

2,324,143

2,301,416

–

22,727

Short-Term

Investments

2,675,101

–

2,675,101

–

Subtotal

Investments

in

Securities

$331,091,414

$129,397,000

$201,191,922

$502,492

Other

Investments  *

Total

U.S.

Affiliated

Registered

Investment

Cos.

48,182,254

Affiliated

Short-Term

Investments

21,673,423

Collateral

Held

for

Securities

Loaned

3,786,834

Subtotal

Other

Investments

$73,642,511

Total

Investments

at

Value

$404,733,925

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

49

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

S&P

-

Standard

&

Poor's

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Balanced

Income

Plus

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

681,151

681,151

–

–

Credit

Default

Swaps

616

–

616

–

Total

Asset

Derivatives

$681,767

$681,151

$616

$–

Liability

Derivatives

Futures

Contracts

1,761,282

1,761,282

–

–

Total

Liability

Derivatives

$1,761,282

$1,761,282

$–

$–

The

following

table

presents

Balanced

Income

Plus

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$2,575,839

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CBOT

10-Yr.

U.S.

Treasury

Note

27

December

2023

$

2,979,778

(

$

62,090)

CBOT

2-Yr.

U.S.

Treasury

Note

14

December

2023

2,850,568

(

12,615)

CBOT

5-Yr.

U.S.

Treasury

Note

38

December

2023

4,047,331

(

43,675)

CBOT

U.S.

Long

Bond

51

December

2023

6,139,809

(

336,964)

CME

E-mini

S&P

500

Index

27

December

2023

6,082,491

(

243,066)

CME

Ultra

Long

Term

U.S.

Treasury

Bond

100

December

2023

12,785,448

(

916,698)

ICE

mini

MSCI

EAFE

Index

6

December

2023

629,982

(

17,532)

ICE

US

mini

MSCI

Emerging

Markets

Index

80

December

2023

3,918,695

(

96,695)

Ultra

10-Yr.

U.S.

Treasury

Note

9

December

2023

1,036,009

(

31,947)

Total

Futures

Long

Contracts

$

40,470,111

(

$

1,761,282)

CME

E-mini

Russell

2000

Index

(95)

December

2023

(

$

8,914,604)

$

371,254

CME

E-mini

S&P

Mid-Cap

400

Index

(23)

December

2023

(

5,992,190)

195,270

CME

Euro

Foreign

Exchange

Currency

(29)

December

2023

(

3,899,690)

52,659

Eurex

Euro

STOXX

50

Index

(86)

December

2023

(

3,869,845)

61,968

Total

Futures

Short

Contracts

(

$

22,676,329)

$681,151

Total

Futures

Contracts

$

17,793,782

($1,080,131)

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

50

The

following

table

presents

Balanced

Income

Plus

Portfolio's

swaps

contracts

held

as

of

September

29,

2023.

Investments

totaling

$99,262

were

pledged

as

collateral

under

the

agreement

between

the

counterparty,

the

custodian

and

the

fund

for

open

swap

contracts.

Credit

Default

Swaps

Buy/Sell

Protection

1

Termination

Date

Notional

Principal

Amount

2

Upfront

Payments/

(Receipts)

Value

3

Unrealized

Gain/(Loss)

CDX

HY

41,

5

Year,

at

5.00%,

Quarterly

Buy

12/20/2028

$

950,000

$

–

$

616

$

616

Total

Credit

Default

Swaps

$–

$616

$616

1

As

the

buyer

of

protection,

Balanced

Income

Plus

Portfolio

pays

periodic

fees

in

return

for

payment

by

the

seller

which

is

contingent

upon

an

adverse

credit

event

occurring

in

the

underlying

issuer

or

reference

entity.

As

the

seller

of

protection,

Balanced

Income

Plus

Portfolio

collects

periodic

fees

from

the

buyer

and

profits

if

the

credit

of

the

underlying

issuer

or

reference

entity

remains

stable

or

improves

while

the

swap

is

outstanding,

but

the

seller

in

a

credit

default

swap

contract

would

be

required

to

pay

the

amount

of

credit

loss,

determined

as

specified

in

the

agreement,

to

the

buyer

in

the

event

of

an

adverse

credit

event

in

the

reference

entity.

2

The

maximum

potential

amount

of

future

payments

Balanced

Income

Plus

Portfolio

could

be

required

to

make

as

the

seller

or

receive

as

the

buyer

of

protection.

3

The

values

for

credit

indexes

(CDX

or

LCDX)

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

liability

or

profit

for

the

credit

default

swap

contract

had

the

contract

been

closed

as

of

the

reporting

date.

When

protection

has

been

sold,

the

value

of

the

swap

will

increase

when

the

swap

spread

declines

representing

an

improvement

in

the

reference

entity's

credit

worthiness.

The

value

of

the

swap

will

decrease

when

the

swap

spread

increases

representing

a

deterioration

in

the

reference

entity's

credit

worthiness.

When

protection

has

been

purchased,

the

value

of

the

swap

will

increase

when

the

swap

spread

increases

representing

a

deterioration

in

the

reference

entity's

credit

worthiness.

The

value

of

the

swap

will

decrease

when

the

swap

spread

declines

representing

an

improvement

in

the

reference

entity's

credit

worthiness.

Balanced

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

51

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Balanced

Income

Plus

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$24,931

$1,018

$6,650

$18,951

2,558

4.8%

Core

International

Equity

28,893

–

2,000

29,231

3,100

7.4

Total

U.S.

Affiliated

Registered

Investment

Companies

53,824

48,182

12.2

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

47,806

85,851

111,984

21,673

2,167

5.5

Total

Affiliated

Short-Term

Investments

47,806

21,673

5.5

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

2,819

61,209

60,241

3,787

3,787

1.0

Total

Collateral

Held

for

Securities

Loaned

2,819

3,787

1.0

Total

Value

$104,449

$73,642

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

($1,903)

$1,555

$

–

$1,018

Core

International

Equity

2

2,336

–

–

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

0

(0)

–

1,145

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$2,163

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

34

Total

Affiliated

Income

from

Securities

Loaned,

Net

$34

Total

Value

($1,901)

$3,891

$

–

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

52

Principal

Amount

Bank

Loans

(

7.3%

)

a

Value

Basic

Materials

(0.2%)

Arsenal

AIC

Parent,

LLC,

Term

Loan

$

153,374

9.883%, 

(TSFR1M

+

4.500%),

8/18/2030

b

$

152,926

Grinding

Media,

Inc.,

Term

Loan

169,733

9.530%, 

(TSFR1M

+

4.000%),

10/12/2028

b,c

168,036

INEOS

US

Petrochem,

LLC,

Term

Loan

450,993

8.181%, 

(TSFR1M

+

2.750%),

1/29/2026

b

448,513

Lummus

Technology

Holdings

V,

LLC,

Term

Loan

155,095

8.931%, 

(TSFR1M

+

3.500%),

6/30/2027

b

154,565

Nouryon

USA,

LLC,

Term

Loan

401,453

8.427%, 

(TSFR3M

+

3.000%),

10/1/2025

b

400,782

Spectrum

Group

Buyer,

Inc.,

Term

Loan

152,849

11.953%, 

(TSFR1M

+

6.500%),

5/19/2028

b

146,849

Total

1,471,671

Capital

Goods

(0.8%)

Ali

Group

North

America

Corporation,

Term

Loan

224,816

7.431%, 

(TSFR1M

+

2.000%),

7/22/2029

b

224,503

Brookfield

WEC

Holdings,

Inc.,

Term

Loan

368,214

8.181%, 

(TSFR1M

+

2.750%),

8/1/2025

b

367,787

BW

Holding,

Inc.,

Term

Loan

160,040

9.573%, 

(TSFR1M

+

4.000%),

12/14/2028

b

143,293

Chart

Industries,

Inc.,

Term

Loan

151,519

9.174%, 

(TSFR1M

+

3.750%),

3/17/2030

b,c

151,519

Charter

Next

Generation,

Inc.,

Term

Loan

444,307

9.181%, 

(TSFR1M

+

3.750%),

12/1/2027

b

439,864

Clydesdale

Acquisition

Holdings,

Inc.,

Term

Loan

426,679

9.591%, 

(TSFR1M

+

4.175%),

4/13/2029

b

420,403

Cornerstone

Building

Brands,

Inc.,

Term

Loan

426,717

8.682%, 

(TSFR1M

+

3.250%),

4/12/2028

b

415,251

Emerald

Debt

Merger

Sub,

LLC,

Term

Loan

330,439

8.316%, 

(TSFR1M

+

3.000%),

5/31/2030

b

329,821

Foley

Products

Company,

LLC,

Term

Loan

137,319

10.290%, 

(SOFRRATE

+

4.750%),

2/16/2029

b

136,604

Proampac

PG

Borrower,

LLC,

Term

Loan

238,411

0.000%, 

(TSFR1M

+

4.500%),

9/26/2028

b,d,e

236,861

Principal

Amount

Bank

Loans

(7.3%)

a

Value

Capital

Goods

(0.8%)

-

continued

Quikrete

Holdings,

Inc.,

Term

Loan

$

150,437

8.056%, 

(TSFR1M

+

2.625%),

1/31/2027

b

$

150,061

339,483

8.181%, 

(TSFR1M

+

2.750%),

3/18/2029

b

339,290

Smyrna

Ready

Mix

Concrete,

LLC,

Term

Loan

314,087

9.666%, 

(TSFR1M

+

4.250%),

4/1/2029

b,c

314,480

TK

Elevator

U.S.

Newco,

Inc.,

Term

Loan

252,460

9.381%, 

(TSFR6M

+

3.500%),

7/31/2027

b

251,702

TransDigm,

Inc.,

Term

Loan

706,450

8.640%, 

(TSFR1M

+

3.250%),

8/24/2028

b

706,337

Vertiv

Group

Corporation,

Term

Loan

247,456

8.192%, 

(TSFR1M

+

2.750%),

3/2/2027

b

246,926

Total

4,874,702

Communications

Services

(1.0%)

Altice

France

SA/France,

Term

Loan

516,354

10.808%, 

(TSFR1M

+

5.500%),

8/31/2028

b

466,139

CCI

Buyer,

Inc.,

Term

Loan

198,960

9.390%, 

(TSFR3M

+

4.000%),

12/17/2027

b

196,100

Cengage

Learning,

Inc.,

Term

Loan

164,884

10.323%, 

(TSFR3M

+

4.750%),

7/14/2026

b

163,894

Charter

Communications

Operating,

LLC,

Term

Loan

620,536

7.116%, 

(TSFR3M

+

1.750%),

2/1/2027

b

619,531

Clear

Channel

Outdoor

Holdings,

Inc.,

Term

Loan

461,807

9.130%, 

(TSFR3M

+

3.500%),

8/23/2026

b

447,759

CMG

Media

Corporation,

Term

Loan

312,000

0.000%, 

(LIBOR

3M

+

3.500%),

12/17/2026

b,d,e

284,700

Crown

Subsea

Communications

Holding,

Inc.,

Term

Loan

151,870

10.444%, 

(TSFR1M

+

5.000%),

4/27/2027

b

152,123

222,914

10.694%, 

(TSFR1M

+

5.250%),

4/27/2027

b

223,472

CSC

Holdings,

LLC,

Term

Loan

239,480

7.947%, 

(LIBOR

1M

+

2.500%),

4/15/2027

b

216,329

DIRECTV

Financing,

LLC,

Term

Loan

560,639

10.431%, 

(TSFR1M

+

5.000%),

8/2/2027

b

547,246

Intelsat

Jackson

Holdings

SA,

Term

Loan

297,755

9.772%, 

(TSFR6M

+

4.250%),

2/1/2029

b

296,808

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

53

Principal

Amount

Bank

Loans

(7.3%)

a

Value

Communications

Services

(1.0%)

-

continued

Level

3

Financing,

Inc.,

Term

Loan

$

260,000

7.181%, 

(TSFR1M

+

1.750%),

3/1/2027

b

$

245,115

Lumen

Technologies,

Inc.,

Term

Loan

318,301

7.681%, 

(TSFR1M

+

2.250%),

3/15/2027

b

226,086

McGraw-Hill

Education,

Inc.,

Term

Loan

313,600

10.181%, 

(LIBOR

1M

+

4.750%),

7/30/2028

b,d,e

306,870

MH

Sub

I,

LLC,

Term

Loan

393,539

9.566%, 

(TSFR1M

+

4.250%),

5/3/2028

b

380,194

NEP

Group,

Inc.,

Term

Loan

164,836

8.681%, 

(TSFR1M

+

3.250%),

10/20/2025

b

158,964

Playtika

Holding

Corporation,

Term

Loan

198,959

8.181%, 

(TSFR1M

+

2.750%),

3/11/2028

b

198,587

Radiate

Holdco,

LLC,

Term

Loan

330,258

8.681%, 

(TSFR1M

+

3.250%),

9/25/2026

b

269,352

RLG

Holdings,

LLC,

Term

Loan

160,038

9.681%, 

(TSFR1M

+

4.250%),

7/8/2028

b

150,036

SBA

Senior

Finance

II,

LLC,

Term

Loan

228,321

7.170%, 

(TSFR1M

+

1.750%),

4/11/2025

b,d,e

228,086

UPC

Financing

Partnership,

Term

Loan

152,000

8.372%, 

(TSFR1M

+

2.925%),

1/31/2029

b

149,530

Virgin

Media

Bristol,

LLC,

Term

Loan

377,000

7.947%, 

(TSFR1M

+

2.500%),

1/31/2028

b

365,739

Zayo

Group

Holdings,

Inc.,

Term

Loan

318,900

8.431%, 

(TSFR1M

+

3.000%),

3/9/2027

b

259,684

Ziggo

Financing

Partnership,

Term

Loan

255,000

7.947%, 

(TSFR1M

+

2.500%),

4/30/2028

b

248,837

Total

6,801,181

Consumer

Cyclical

(1.3%)

1011778

B.C.,

ULC,

Term

Loan

617,203

7.566%, 

(TSFR1M

+

2.250%),

9/21/2030

b

614,506

AlixPartners,

LLP,

Term

Loan

281,695

8.181%, 

(TSFR1M

+

2.750%),

2/4/2028

b

281,273

Allied

Universal

Holdco,

LLC,

Term

Loan

615,717

9.166%, 

(TSFR1M

+

3.750%),

5/14/2028

b

593,816

Alterra

Mountain

Company,

Term

Loan

194,020

8.931%, 

(TSFR1M

+

3.500%),

8/17/2028

b

193,374

Principal

Amount

Bank

Loans

(7.3%)

a

Value

Consumer

Cyclical

(1.3%)

-

continued

Arches

Buyer,

Inc.,

Term

Loan

$

106,898

8.666%, 

(TSFR1M

+

3.250%),

12/6/2027

b

$

104,493

Caesars

Entertainment,

Inc.,

Term

Loan

388,050

8.666%, 

(TSFR1M

+

3.250%),

2/6/2030

b

387,809

Carnival

Corporation,

Term

Loan

395,815

8.327%, 

(TSFR1M

+

3.000%),

8/8/2027

b

394,331

31,678

8.681%, 

(TSFR1M

+

3.250%),

10/18/2028

b

31,480

Cinemark

USA,

Inc.,

Term

Loan

176,732

9.089%, 

(TSFR1M

+

3.750%),

5/24/2030

b

176,327

Clarios

Global,

LP,

Term

Loan

355,072

9.066%, 

(TSFR1M

+

3.750%),

5/4/2030

b

353,964

Delta

2

Lux

SARL,

Term

Loan

367,000

8.316%, 

(TSFR1M

+

3.000%),

1/15/2030

b

366,633

Ensemble

RCM,

LLC,

Term

Loan

149,223

9.219%, 

(TSFR1M

+

3.750%),

8/1/2026

b

149,276

Fertitta

Entertainment,

LLC/NV,

Term

Loan

150,472

9.316%, 

(TSFR1M

+

4.000%),

1/27/2029

b

148,780

First

Brands

Group,

LLC,

Term

Loan

200,458

10.881%, 

(TSFR6M

+

5.000%),

3/30/2027

b

197,451

GoDaddy

Operating

Company,

LLC,

Term

Loan

243,166

7.816%, 

(TSFR1M

+

2.500%),

11/10/2029

b

243,241

Great

Outdoors

Group,

LLC,

Term

Loan

344,485

9.181%, 

(TSFR1M

+

3.750%),

3/5/2028

b

343,317

Harbor

Freight

Tools

USA,

Inc.,

Term

Loan

306,635

8.181%, 

(TSFR1M

+

2.750%),

10/19/2027

b

303,986

IRB

Holding

Corporation,

Term

Loan

355,294

8.416%, 

(TSFR1M

+

3.000%),

12/15/2027

b

353,653

Light

&

Wonder

International,

Inc.,

Term

Loan

373,221

8.434%, 

(TSFR1M

+

3.000%),

4/14/2029

b

372,754

Petco

Health

&

Wellness

Company,

Inc.,

Term

Loan

157,591

8.902%, 

(TSFR3M

+

3.250%),

3/4/2028

b

155,621

PetSmart,

LLC,

Term

Loan

486,179

9.166%, 

(TSFR1M

+

3.750%),

2/12/2028

b

484,181

Pilot

Travel

Centers,

LLC,

Term

Loan

415,684

7.416%, 

(TSFR1M

+

2.000%),

8/6/2028

b

414,940

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

54

Principal

Amount

Bank

Loans

(7.3%)

a

Value

Consumer

Cyclical

(1.3%)

-

continued

Prime

Security

Services

Borrower,

LLC,

Term

Loan

$

494,825

8.192%, 

(TSFR1M

+

2.750%),

9/23/2026

b

$

493,929

Scientific

Games

Holdings,

LP,

Term

Loan

252,450

8.768%, 

(TSFR1M

+

3.500%),

4/4/2029

b

250,766

Staples,

Inc.,

Term

Loan

243,047

10.634%, 

(LIBOR

3M

+

5.000%),

4/12/2026

b

208,029

Stars

Group

Holdings

BV,

Term

Loan

145,515

7.902%, 

(TSFR3M

+

2.250%),

7/21/2026

b

145,319

Uber

Technologies,

Inc.,

Term

Loan

184,563

8.159%, 

(TSFR1M

+

2.750%),

3/3/2030

b

184,395

UFC

Holdings,

LLC,

Term

Loan

242,813

8.369%, 

(TSFR3M

+

2.750%),

4/29/2026

b

242,427

Total

8,190,071

Consumer

Non-Cyclical

(1.2%)

AI

Aqua

Merger

Sub,

Inc.,

Term

Loan

484,988

9.084%, 

(TSFR1M

+

3.750%),

7/30/2028

b

479,610

Alltech,

Inc.,

Term

Loan

150,338

9.431%, 

(TSFR1M

+

4.000%),

10/15/2028

b

144,889

Amneal

Pharmaceuticals,

LLC,

Term

Loan

366,527

8.931%, 

(TSFR1M

+

3.500%),

5/4/2025

b

359,197

Bausch

+

Lomb

Corporation,

Term

Loan

388,070

8.755%, 

(TSFR1M

+

3.250%),

5/10/2027

b

376,645

176,012

0.000%, 

(TSFR1M

+

4.000%),

9/14/2028

b,c,d,e

173,592

Chobani,

LLC,

Term

Loan

155,168

8.931%, 

(TSFR1M

+

3.500%),

10/23/2027

b

155,022

DaVita,

Inc.,

Term

Loan

124,148

7.181%, 

(TSFR1M

+

1.750%),

8/12/2026

b

122,519

Elanco

Animal

Health,

Inc.,

Term

Loan

196,270

7.180%, 

(TSFR1M

+

1.750%),

8/1/2027

b

192,317

Froneri

U.S.,

Inc.,

Term

Loan

378,092

7.666%, 

(TSFR3M

+

2.250%),

1/31/2027

b

374,954

Gainwell

Acquisition

Corporation,

Term

Loan

554,325

9.490%, 

(TSFR3M

+

4.000%),

10/1/2027

b

539,946

ICON

Luxembourg

SARL,

Term

Loan

393,175

7.902%, 

(TSFR3M

+

2.250%),

7/1/2028

b

392,861

Principal

Amount

Bank

Loans

(7.3%)

a

Value

Consumer

Non-Cyclical

(1.2%)

-

continued

Jazz

Financing

Lux

SARL,

Term

Loan

$

489,443

8.931%, 

(TSFR1M

+

3.500%),

5/5/2028

b

$

488,968

LifePoint

Health,

Inc.,

Term

Loan

155,963

0.000%, 

(TSFR1M

+

5.500%),

11/16/2028

b,c,d,e

151,284

537,630

9.377%, 

(TSFR3M

+

3.750%),

11/16/2025

b,d,e

535,840

Medline

Borrower,

LP,

Term

Loan

896,895

8.681%, 

(TSFR1M

+

3.250%),

10/21/2028

b

893,935

Organon

&

Company,

Term

Loan

450,685

8.442%, 

(TSFR1M

+

3.000%),

6/2/2028

b

449,333

Packaging

Coordinators

Midco,

Inc.,

Term

Loan

150,840

9.152%, 

(TSFR3M

+

3.500%),

11/30/2027

b

150,039

Phoenix

Newco,

Inc.,

Term

Loan

368,131

8.681%, 

(TSFR1M

+

3.250%),

11/15/2028

b

365,204

PRA

Health

Sciences,

Inc.,

Term

Loan

97,960

7.902%, 

(TSFR3M

+

2.250%),

7/1/2028

b

97,881

Reynolds

Consumer

Products,

LLC,

Term

Loan

282,224

7.166%, 

(TSFR1M

+

1.750%),

2/4/2027

b

281,744

Select

Medical

Corporation,

Term

Loan

249,375

8.316%, 

(TSFR1M

+

3.000%),

3/6/2027

b

248,440

Sotera

Health

Holdings,

LLC,

Term

Loan

335,000

8.181%, 

(TSFR1M

+

2.750%),

12/11/2026

b

331,566

Star

Parent,

Inc.,

Term

Loan

364,800

0.000%, 

(TSFR1M

+

4.000%),

9/28/2030

b,d,e

356,238

Total

7,662,024

Energy

(0.2%)

Buckeye

Partners,

LP,

Term

Loan

247,455

7.666%, 

(TSFR1M

+

2.250%),

11/1/2026

b

247,084

CQP

Holdco,

LP,

Term

Loan

494,738

8.990%, 

(TSFR1M

+

3.500%),

6/4/2028

b

494,624

GIP

II

Blue

Holding,

LP,

Term

Loan

85,756

9.931%, 

(TSFR3M

+

4.500%),

9/29/2028

b

85,864

GIP

III

Stetson

I,

LP,

Term

Loan

135,097

9.666%, 

(TSFR1M

+

4.250%),

7/18/2025

b

134,956

Oryx

Midstream

Services

Permian

Basin,

LLC,

Term

Loan

116,098

8.692%, 

(TSFR3M

+

3.250%),

10/5/2028

b

115,917

Total

1,078,445

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

55

Principal

Amount

Bank

Loans

(7.3%)

a

Value

Financials

(0.6%)

Acrisure,

LLC,

Term

Loan

$

232,590

8.931%, 

(LIBOR

1M

+

3.500%),

2/15/2027

b

$

229,017

Alliant

Holdings

Intermediate,

LLC,

Term

Loan

97,011

8.831%, 

(TSFR1M

+

3.500%),

11/6/2027

b

96,799

AmWINS

Group,

Inc.,

Term

Loan

373,165

7.681%, 

(TSFR1M

+

2.250%),

2/19/2028

b

370,579

Asurion,

LLC,

Term

Loan

301,475

8.681%, 

(LIBOR

3M

+

3.250%),

12/23/2026

b

294,692

168,896

8.681%, 

(TSFR3M

+

3.250%),

7/31/2027

b

162,984

110,871

9.666%, 

(TSFR1M

+

4.250%),

8/19/2028

b

107,545

Edelman

Financial

Engines

Center,

LLC,

Term

Loan

101,957

8.931%, 

(TSFR1M

+

3.500%),

4/7/2028

b

100,759

First

Eagle

Holdings,

Inc.,

Term

Loan

101,912

7.990%, 

(TSFR3M

+

2.500%),

2/2/2027

b

100,930

FleetCor

Technologies

Operating

Company,

LLC,

Term  Loan

198,967

7.166%, 

(TSFR1M

+

1.750%),

4/30/2028

b

198,107

Focus

Financial

Partners,

LLC,

Term

Loan

167,729

8.566%, 

(TSFR1M

+

3.250%),

6/30/2028

b

167,147

Howden

Group

Holdings,

Ltd.,

Term

Loan

101,952

8.688%, 

(LIBOR

1M

+

3.250%),

11/12/2027

b

101,518

HUB

International,

Ltd.,

Term

Loan

475,000

9.584%, 

(TSFR1M

+

4.250%),

6/20/2030

b

475,793

Hudson

River

Trading,

LLC,

Term

Loan

106,903

8.631%, 

(TSFR1M

+

3.000%),

3/18/2028

b

106,121

Jane

Street

Group,

LLC,

Term

Loan

198,954

8.181%, 

(TSFR1M

+

2.750%),

1/26/2028

b

198,208

Osaic

Holdings,

Inc.,

Term

Loan

91,078

9.816%, 

(TSFR1M

+

4.500%),

8/16/2028

b

90,936

Sedgwick

Claims

Management

Services,

Inc.,

Term

Loan

170,642

9.066%, 

(TSFR1M

+

3.750%),

2/24/2028

b

170,195

Trans

Union,

LLC,

Term

Loan

308,628

7.681%, 

(TSFR1M

+

2.250%),

12/1/2028

b

308,205

USI,

Inc./NY,

Term

Loan

368,280

9.140%, 

(TSFR1M

+

3.750%),

11/22/2029

b

367,717

Principal

Amount

Bank

Loans

(7.3%)

a

Value

Financials

(0.6%)

-

continued

VFH

Parent,

LLC,

Term

Loan

$

150,480

8.418%, 

(TSFR1M

+

3.000%),

1/13/2029

b

$

149,132

Total

3,796,384

Technology

(1.5%)

Amentum

Government

Services

Holdings,

LLC,

Term  Loan

247,494

9.331%, 

(TSFR1M

+

4.000%),

2/15/2029

b

243,628

AthenaHealth

Group,

Inc.,

Term

Loan

683,042

8.568%, 

(PRIME

+

3.250%),

2/15/2029

b,d,e

669,169

Boxer

Parent

Company,

Inc.,

Term

Loan

377,540

9.181%, 

(TSFR1M

+

3.750%),

10/2/2025

b

376,966

Central

Parent,

Inc.,

Term

Loan

442,655

9.640%, 

(TSFR3M

+

4.250%),

7/6/2029

b

442,416

Cloud

Software

Group,

Inc.,

Term

Loan

403,985

9.990%, 

(TSFR3M

+

4.500%),

3/30/2029

b

387,911

Coherent

Corporation,

Term

Loan

228,538

8.181%, 

(TSFR3M

+

2.750%),

7/1/2029

b

227,539

CommScope,

Inc.,

Term

Loan

155,987

8.681%, 

(TSFR1M

+

3.250%),

4/4/2026

b

142,026

CoreLogic,

Inc.,

Term

Loan

199,473

8.931%, 

(TSFR1M

+

3.500%),

6/2/2028

b

183,930

Cornerstone

OnDemand,

Inc.,

Term

Loan

271,246

9.181%, 

(TSFR1M

+

3.750%),

10/15/2028

b

257,345

Dcert

Buyer,

Inc.,

Term

Loan

300,882

9.316%, 

(TSFR6M

+

4.000%),

10/16/2026

b

298,592

Dun

&

Bradstreet

Corporation,

Term

Loan

295,872

8.167%, 

(TSFR1M

+

2.750%),

2/8/2026

b

295,224

Entegris,

Inc.,

Term

Loan

210,609

7.871%, 

(TSFR3M

+

2.500%),

7/6/2029

b

210,543

Gen

Digital,

Inc.,

Term

Loan

285,564

7.416%, 

(TSFR1M

+

2.000%),

9/12/2029

b

284,422

Genesys

Cloud

Services

Holdings

II,

LLC,

Term

Loan

248,092

9.431%, 

(TSFR1M

+

4.000%),

12/1/2027

b

248,092

GTCR

W

Merger

Sub,

LLC,

Term

Loan

499,200

0.000%, 

(TSFR1M

+

3.000%),

9/20/2030

b,d,e

498,836

Informatica,

LLC,

Term

Loan

247,487

8.181%, 

(TSFR1M

+

2.750%),

10/29/2028

b

246,406

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

56

Principal

Amount

Bank

Loans

(7.3%)

a

Value

Technology

(1.5%)

-

continued

Magenta

Buyer,

LLC,

Term

Loan

$

266,962

10.631%, 

(TSFR3M

+

5.000%),

7/27/2028

b

$

197,848

McAfee

Corporation,

Term

Loan

508,847

9.180%, 

(TSFR1M

+

3.750%),

3/1/2029

b

496,284

Mitchell

International,

Inc.,

Term

Loan

310,844

9.181%, 

(TSFR1M

+

3.750%),

10/15/2028

b

305,314

MKS

Instruments,

Inc.,

Term

Loan

446,490

8.166%, 

(TSFR1M

+

2.750%),

8/17/2029

b

445,771

Open

Text

Corporation,

Term

Loan

383,105

8.166%, 

(TSFR1M

+

2.750%),

1/31/2030

b

382,933

Peraton

Corporation,

Term

Loan

768,716

9.166%, 

(TSFR1M

+

3.750%),

2/1/2028

b

766,317

Polaris

Newco,

LLC,

Term

Loan

446,444

9.431%, 

(TSFR3M

+

4.000%),

6/4/2028

b

426,832

Proofpoint,

Inc.,

Term

Loan

329,645

8.681%, 

(TSFR1M

+

3.250%),

8/31/2028

b

326,576

RealPage,

Inc.,

Term

Loan

252,424

8.431%, 

(TSFR1M

+

3.000%),

4/22/2028

b

249,269

Tempo

Acquisition,

LLC,

Term

Loan

242,541

8.316%, 

(TSFR1M

+

2.750%),

8/31/2028

b

242,541

UKG,

Inc.,

Term

Loan

528,620

8.618%, 

(TSFR3M

+

3.250%),

5/3/2026

b

526,695

Verscend

Holding

Corporation,

Term

Loan

363,284

9.431%, 

(TSFR1M

+

4.000%),

8/27/2025

b

362,895

Total

9,742,320

Transportation

(0.4%)

AAdvantage

Loyalty

IP,

Ltd.,

Term

Loan

572,448

10.338%, 

(TSFR3M

+

4.750%),

4/20/2028

b

589,049

Air

Canada,

Term

Loan

470,414

9.128%, 

(TSFR3M

+

3.500%),

8/11/2028

b

470,315

Apple

Bidco,

LLC,

Term

Loan

164,165

8.181%, 

(TSFR1M

+

2.750%),

9/23/2028

b

162,851

Brown

Group

Holding,

LLC,

Term

Loan

198,826

8.166%, 

(TSFR1M

+

2.750%),

6/7/2028

b

196,796

Genesee

&

Wyoming,

Inc.,

Term

Loan

247,286

7.490%, 

(TSFR3M

+

2.000%),

12/30/2026

b

246,745

SkyMiles

IP,

Ltd.,

Term

Loan

449,668

9.076%, 

(TSFR3M

+

3.750%),

10/20/2027

b

465,240

Principal

Amount

Bank

Loans

(7.3%)

a

Value

Transportation

(0.4%)

-

continued

United

Airlines,

Inc.,

Term

Loan

$

563,934

9.182%, 

(TSFR3M

+

3.750%),

4/21/2028

b

$

564,064

Total

2,695,060

Utilities

(0.1%)

PG&E

Corporation,

Term

Loan

364,077

8.431%, 

(TSFR1M

+

3.000%),

6/23/2025

b

363,825

Talen

Energy

Supply,

LLC,

Term

Loan

166,250

9.877%, 

(TSFR1M

+

4.500%),

5/17/2030

b

166,771

Total

530,596

Total

Bank

Loans

(cost

$46,776,453)

46,842,454

Principal

Amount

Long-Term

Fixed

Income

(

65.2%

)

Value

Asset-Backed

Securities

(6.0%)

510

Asset

Backed

Trust

600,000

3.967%, 

5/25/2061,

Ser.

2021-NPL1,

Class

A2

f,g

510,615

747,110

2.116%, 

6/25/2061,

Ser.

2021-NPL2,

Class

A1

f,g

682,961

550,000

4.090%, 

6/25/2061,

Ser.

2021-NPL2,

Class

A2

f,g

470,097

720

East

CLO

I,

Ltd.

1,100,000

9.576%, 

(TSFR3M

+

4.250%),

1/20/2036,

Ser.

2022-1A,

Class

C

b,f

1,108,375

Affirm

Asset

Securitization

Trust

700,000

4.300%, 

5/17/2027,

Ser.

2022-A,

Class

1A

f

685,071

650,000

6.610%, 

1/18/2028,

Ser.

2023-A,

Class

A

f

645,791

800,000

6.820%, 

9/15/2028,

Ser.

2023-B,

Class

A

f

801,012

Anchorage

Capital

CLO

21,

Ltd.

875,000

7.988%, 

(TSFR3M

+

2.662%),

10/20/2034,

Ser.

2021-21A,

Class

C

b,f

860,156

Ares

XL

CLO,

Ltd.

825,000

8.370%, 

(TSFR3M

+

3.062%),

1/15/2029,

Ser.

2016-40A,

Class

CRR

b,f

807,569

Babson

CLO,

Ltd.

1,780,000

8.488%, 

(TSFR3M

+

3.162%),

7/20/2029,

Ser.

2018-3A,

Class

D

b,f

1,765,735

Barings

CLO,

Ltd.

400,000

8.738%, 

(TSFR3M

+

3.412%),

1/20/2032,

Ser.

2016-2A,

Class

DR2

b,f

392,578

Benefit

Street

Partners

CLO

II,

Ltd.

750,000

7.470%, 

(TSFR3M

+

2.162%),

7/15/2029,

Ser.

2013-IIA,

Class

BR2

b,f

749,974

Business

Jet

Securities,

LLC

116,052

2.981%, 

11/15/2035,

Ser.

2020-1A,

Class

A

f

108,803

802,284

4.455%, 

6/15/2037,

Ser.

2022-1A,

Class

A

f

750,044

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

57

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Asset-Backed

Securities

(6.0%)

-

continued

CarVal

CLO

VIII-C,

Ltd.

$

750,000

8.346%, 

(TSFR3M

+

3.000%),

10/22/2035,

Ser.

2022-2A,

Class

B1

b,f

$

754,253

CarVal

CLO,

Ltd.

1,250,000

9.034%, 

(TSFR3M

+

3.700%),

4/21/2034,

Ser.

2022-1A,

Class

D

b,f

1,200,410

Cascade

Funding

Mortgage

Trust,

LLC

609,598

4.250%, 

4/25/2033,

Ser.

2023-HB12,

Class

A

b,f

583,512

Dewolf

Park

CLO,

Ltd.

700,000

8.420%, 

(TSFR3M

+

3.112%),

10/15/2030,

Ser.

2017-1A,

Class

DR

b,f

672,673

Dryden

36

Senior

Loan

Fund

750,000

7.620%, 

(TSFR3M

+

2.312%),

4/15/2029,

Ser.

2014-36A,

Class

CR3

b,f

738,481

FirstKey

Homes

Trust

900,000

1.968%, 

10/19/2037,

Ser.

2020-SFR2,

Class

D

f

817,363

Harley

Marine

Financing,

LLC

1,126,538

6.682%, 

5/15/2043,

Ser.

2018-1A,

Class

A2

f

1,122,739

Longfellow

Place

CLO,

Ltd.

1,550,000

7.870%, 

(TSFR3M

+

2.562%),

4/15/2029,

Ser.

2013-1A,

Class

CR3

b,f

1,545,694

Madison

Park

Funding

XVIII,

Ltd.

500,000

7.495%, 

(TSFR3M

+

2.162%),

10/21/2030,

Ser.

2015-18A,

Class

CRR

b,f

488,226

Neuberger

Berman

CLO,

Ltd.

1,225,000

8.570%, 

(TSFR3M

+

3.262%),

10/15/2029,

Ser.

2013-15A,

Class

DR2

b,f

1,166,730

OZLM

VIII,

Ltd.

1,000,000

7.220%, 

(TSFR3M

+

1.912%),

10/17/2029,

Ser.

2014-8A,

Class

A2R3

b,f

991,440

Pagaya

AI

Technology

in

Housing

Trust

1,100,000

4.250%, 

8/25/2025,

Ser.

2022-1,

Class

B

f

1,035,960

PPM

CLO

6,

Ltd.

1,000,000

9.826%, 

(TSFR3M

+

4.500%),

1/20/2031,

Ser.

2022-6A,

Class

C

b,f

999,151

Preston

Ridge

Partners

Mortgage

Trust,

LLC

325,000

3.474%, 

7/25/2026,

Ser.

2021-6,

Class

A2

f,g

264,919

Pretium

Mortgage

Credit

Partners,

LLC

1,250,000

5.438%, 

1/25/2052,

Ser.

2022-NPL1,

Class

A2

f,g

1,129,109

182,190

5.240%, 

4/25/2052,

Ser.

2022-NPL2,

Class

A1

f,g

177,029

950,000

3.844%, 

6/27/2060,

Ser.

2021-NPL2,

Class

A2

f,g

754,917

1,000,000

3.721%, 

7/25/2051,

Ser.

2021-NPL3,

Class

A2

f,g

800,430

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Asset-Backed

Securities

(6.0%)

-

continued

Progress

Residential

Trust

$

1,500,000

3.600%, 

4/17/2039,

Ser.

2022-SFR3,

Class

B

f

$

1,364,292

Renaissance

Home

Equity

Loan

Trust

1,130,711

5.797%, 

8/25/2036,

Ser.

2006-2,

Class

AF3

g

447,740

Saxon

Asset

Securities

Trust

399,056

2.869%, 

8/25/2035,

Ser.

2004-2,

Class

MF2

b

331,141

Sculptor

CLO,

Ltd.

625,000

7.988%, 

(TSFR3M

+

2.662%),

1/20/2035,

Ser.

28A,

Class

C

b,f

614,703

Silver

Point

CLO

2,

Ltd.

1,200,000

7.782%, 

(TSFR3M

+

2.700%),

4/20/2035,

Ser.

2023-2A,

Class

A2

b,f

1,206,756

Stanwich

Mortgage

Loan

Company,

LLC

532,963

2.735%, 

10/16/2026,

Ser.

2021-NPB1,

Class

A1

f,g

485,677

Stratus

CLO,

Ltd.

950,000

8.376%, 

(TSFR3M

+

3.050%),

10/20/2031,

Ser.

2022-3A,

Class

B

b,f

952,459

Unlock

HEA

Trust

1,000,000

7.000%, 

10/25/2038,

Ser.

2023-1,

Class

A

e,f

943,695

Upstart

Securitization

Trust

499,327

6.590%, 

2/20/2033,

Ser.

2023-1,

Class

A

f

498,311

VCAT

Asset

Securitization,

LLC

250,000

4.826%, 

12/26/2050,

Ser.

2021-NPL1,

Class

A2

f,g

225,246

Vericrest

Opportunity

Loan

Transferee

950,000

4.826%, 

2/27/2051,

Ser.

2021-NPL2,

Class

A2

f,g

755,950

1,150,000

4.949%, 

2/27/2051,

Ser.

2021-NPL3,

Class

A2

f,g

874,034

790,000

4.826%, 

4/25/2051,

Ser.

2021-NPL6,

Class

A2

f,g

593,804

225,000

4.949%, 

4/25/2051,

Ser.

2021-NPL8,

Class

A2

f,g

170,123

1,250,000

4.826%, 

5/25/2051,

Ser.

2021-NPL9,

Class

A2

f,g

944,142

275,000

5.438%, 

12/26/2051,

Ser.

2021-NP12,

Class

A2

f,g

207,199

Whitebox

CLO

III,

Ltd.

725,000

7.770%, 

(TSFR3M

+

2.462%),

10/15/2034,

Ser.

2021-3A,

Class

C

b,f

716,241

Whitebox

CLO

IV,

Ltd.

800,000

7.380%, 

(TSFR3M

+

2.600%),

4/20/2036,

Ser.

2023-4A,

Class

B

b,f

795,895

Wind

River

CLO,

Ltd.

725,000

7.588%, 

(TSFR3M

+

2.262%),

7/20/2030,

Ser.

2013-1A,

Class

BRR

b,f

720,299

Total

38,429,524

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

58

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Basic

Materials

(1.1%)

Anglo

American

Capital

plc

$

70,000

3.875%, 

3/16/2029

f

$

62,727

ATI,

Inc.

172,000

7.250%, 

8/15/2030

170,710

ATI,

Inc.,

Convertible

162,000

3.500%, 

6/15/2025

435,699

Cascades,

Inc./Cascades

USA,

Inc.

210,000

5.125%, 

1/15/2026

f

201,023

Chemours

Company

290,000

5.750%, 

11/15/2028

f

251,691

Cleveland-Cliffs,

Inc.

183,000

5.875%, 

6/1/2027

h

174,181

160,000

4.625%, 

3/1/2029

f

139,370

Consolidated

Energy

Finance

SA

483,000

5.625%, 

10/15/2028

f

399,079

Ecolab,

Inc.

119,000

2.125%, 

2/1/2032

93,323

EIDP,

Inc.

72,000

4.500%, 

5/15/2026

70,130

First

Quantum

Minerals,

Ltd.

394,000

6.875%, 

10/15/2027

f

377,995

FMC

Corporation

77,000

5.150%, 

5/18/2026

74,808

Glencore

Funding,

LLC

147,000

4.000%, 

3/27/2027

f

137,982

168,000

6.125%, 

10/6/2028

e,f

167,712

78,000

6.375%, 

10/6/2030

e,f

77,790

Hecla

Mining

Company

120,000

7.250%, 

2/15/2028

116,099

Hudbay

Minerals,

Inc.

280,000

4.500%, 

4/1/2026

f

261,961

Illuminate

Buyer,

LLC/Illuminate

Holdings

IV,

Inc.

193,000

9.000%, 

7/1/2028

f

182,279

International

Flavors

&

Fragrances,

Inc.

133,000

1.230%, 

10/1/2025

f

119,221

Mineral

Resources,

Ltd.

48,000

9.250%, 

10/1/2028

f

48,480

Mosaic

Company

171,000

4.050%, 

11/15/2027

160,512

Novelis

Corporation

110,000

3.250%, 

11/15/2026

f

98,241

160,000

4.750%, 

1/30/2030

f

138,472

110,000

3.875%, 

8/15/2031

f

87,844

Nutrien,

Ltd.

188,000

4.000%, 

12/15/2026

178,184

OCI

NV

108,000

4.625%, 

10/15/2025

f

102,109

Olin

Corporation

341,000

5.125%, 

9/15/2027

318,838

Peabody

Energy

Corporation,

Convertible

158,000

3.250%, 

3/1/2028

h

238,185

SCIL

IV,

LLC/SCIL

USA

Holdings,

LLC

297,000

5.375%, 

11/1/2026

f

271,374

SNF

Group

SACA

286,000

3.375%, 

3/15/2030

f

230,831

SunCoke

Energy,

Inc.

309,000

4.875%, 

6/30/2029

f

262,565

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Basic

Materials

(1.1%)

-

continued

Taseko

Mines,

Ltd.

$

211,000

7.000%, 

2/15/2026

f

$

197,101

Unifrax

Escrow

Issuer

Corporation

261,000

5.250%, 

9/30/2028

f

185,870

United

States

Steel

Corporation

303,000

6.875%, 

3/1/2029

297,866

United

States

Steel

Corporation,

Convertible

184,000

5.000%, 

11/1/2026

453,192

Westlake

Corporation

98,000

3.600%, 

8/15/2026

92,575

Total

6,876,019

Capital

Goods

(1.9%)

Advanced

Drainage

Systems,

Inc.

182,000

6.375%, 

6/15/2030

f

174,802

Amcor

Finance

USA,

Inc.

88,000

5.625%, 

5/26/2033

84,495

Amphenol

Corporation

83,000

4.750%, 

3/30/2026

81,522

ARD

Finance

SA

93,000

6.500%, 

6/30/2027

f

70,163

Ardagh

Packaging

Finance

plc/

Ardagh

Holdings

USA,

Inc.

168,000

5.250%, 

8/15/2027

f

140,195

116,000

5.250%, 

8/15/2027

f

96,801

Boeing

Company

255,000

4.875%, 

5/1/2025

250,619

166,000

2.196%, 

2/4/2026

152,418

147,000

3.250%, 

3/1/2028

132,100

196,000

5.150%, 

5/1/2030

187,278

Bombardier,

Inc.

44,000

7.125%, 

6/15/2026

f

42,630

347,000

7.875%, 

4/15/2027

f

338,584

122,000

6.000%, 

2/15/2028

f

110,678

Brand

Industrial

Services,

Inc.

83,000

10.375%, 

8/1/2030

f

83,128

Builders

FirstSource,

Inc.

185,000

5.000%, 

3/1/2030

f

164,947

Canpack

SA/Canpack

US,

LLC

303,000

3.125%, 

11/1/2025

f

279,512

Carrier

Global

Corporation

147,000

2.722%, 

2/15/2030

122,506

Chart

Industries,

Inc.

289,000

7.500%, 

1/1/2030

f

290,584

Chart

Industries,

Inc.,

Convertible

189,000

1.000%, 

11/15/2024

548,856

Clydesdale

Acquisition

Holdings,

Inc.

39,000

6.625%, 

4/15/2029

f

36,262

79,000

8.750%, 

4/15/2030

f

67,755

Cornerstone

Building

Brands,

Inc.

202,000

6.125%, 

1/15/2029

f

153,135

Covanta

Holding

Corporation

180,000

4.875%, 

12/1/2029

f

147,672

CP

Atlas

Buyer,

Inc.

250,000

7.000%, 

12/1/2028

f

196,034

Crown

Cork

&

Seal

Company,

Inc.

244,000

7.375%, 

12/15/2026

247,660

Fluor

Corporation,

Convertible

503,000

1.125%, 

8/15/2029

f

519,850

GFL

Environmental,

Inc.

233,000

4.000%, 

8/1/2028

f

203,588

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

59

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Capital

Goods

(1.9%)

-

continued

$

219,000

3.500%, 

9/1/2028

f

$

188,539

Greenbrier

Companies,

Inc.,

Convertible

337,000

2.875%, 

4/15/2028

317,454

H&E

Equipment

Services,

Inc.

486,000

3.875%, 

12/15/2028

f

414,993

Herc

Holdings,

Inc.

260,000

5.500%, 

7/15/2027

f

245,870

Howmet

Aerospace,

Inc.

132,000

6.750%, 

1/15/2028

132,921

Huntington

Ingalls

Industries,

Inc.

147,000

4.200%, 

5/1/2030

132,943

Ingersoll

Rand,

Inc.

43,000

5.700%, 

8/14/2033

41,500

John

Deere

Capital

Corporation

80,000

5.150%, 

9/8/2026

79,748

80,000

4.950%, 

7/14/2028

78,895

184,000

2.800%, 

7/18/2029

162,063

82,000

4.700%, 

6/10/2030

78,854

91,000

3.900%, 

6/7/2032

81,981

46,000

5.150%, 

9/8/2033

44,984

Kaman

Corporation,

Convertible

138,000

3.250%, 

5/1/2024

133,957

L3Harris

Technologies,

Inc.

78,000

5.400%, 

1/15/2027

77,321

Mauser

Packaging

Solutions

Holding

Company

137,000

9.250%, 

4/15/2027

f

119,750

MIWD

Holdco

II,

LLC

158,000

5.500%, 

2/1/2030

f

130,547

Mueller

Water

Products,

Inc.

161,000

4.000%, 

6/15/2029

f

140,216

Nesco

Holdings

II,

Inc.

295,000

5.500%, 

4/15/2029

f

258,863

New

Enterprise

Stone

and

Lime

Company,

Inc.

370,000

5.250%, 

7/15/2028

f

331,990

Northrop

Grumman

Corporation

42,000

4.700%, 

3/15/2033

39,212

OI

European

Group

BV

305,000

4.750%, 

2/15/2030

f

265,306

Otis

Worldwide

Corporation

122,000

2.056%, 

4/5/2025

115,179

Owens-Brockway

Glass

Container,

Inc.

140,000

6.625%, 

5/13/2027

f

136,483

Pactiv

Evergreen

Group

225,000

4.375%, 

10/15/2028

f

195,223

Parker-Hannifin

Corporation

79,000

4.250%, 

9/15/2027

75,475

Patrick

Industries,

Inc.,

Convertible

134,000

1.750%, 

12/1/2028

126,429

PGT

Innovations,

Inc.

298,000

4.375%, 

10/1/2029

f

274,781

Republic

Services,

Inc.

79,000

3.950%, 

5/15/2028

74,152

Roller

Bearing

Company

of

America,

Inc.

217,000

4.375%, 

10/15/2029

f

186,655

Sealed

Air

Corporation

241,000

6.125%, 

2/1/2028

f

233,413

Silgan

Holdings,

Inc.

116,000

4.125%, 

2/1/2028

103,779

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Capital

Goods

(1.9%)

-

continued

SRM

Escrow

Issuer,

LLC

$

342,000

6.000%, 

11/1/2028

f

$

315,824

Textron,

Inc.

147,000

3.650%, 

3/15/2027

137,248

Titan

Acquisition,

Ltd./Titan

Co-

Borrower,

LLC

125,000

7.750%, 

4/15/2026

f

122,500

TransDigm,

Inc.

267,000

6.250%, 

3/15/2026

f

262,349

738,000

5.500%, 

11/15/2027

691,026

Triumph

Group,

Inc.

247,000

9.000%, 

3/15/2028

f

244,235

United

Rentals

North

America,

Inc.

240,000

4.000%, 

7/15/2030

204,534

Veralto

Corporation

82,000

5.350%, 

9/18/2028

f

81,073

Waste

Connections,

Inc.

46,000

3.200%, 

6/1/2032

38,163

Waste

Management,

Inc.

78,000

4.875%, 

2/15/2029

76,269

Waste

Pro

USA,

Inc.

140,000

5.500%, 

2/15/2026

f

130,729

Total

12,247,200

Collateralized

Mortgage

Obligations

(5.1%)

A&D

Mortgage

Trust

591,717

6.733%, 

7/25/2068,

Ser.

2023-NQM3,

Class

A1

f,g

590,954

Alternative

Loan

Trust

373,940

6.000%, 

8/1/2036,

Ser.

2006-24CB,

Class

A9

204,216

Banc

of

America

Alternative

Loan

Trust

728,937

6.000%, 

11/25/2035,

Ser.

2005-10,

Class

3CB1

609,211

Banc

of

America

Mortgage

Securities

Trust

318,797

5.499%, 

9/25/2035,

Ser.

2005-H,

Class

3A1

b

287,157

Bear

Stearns

Adjustable

Rate

Mortgage

Trust

23,475

7.670%, 

(CMT

1Y

+

2.300%),

10/25/2035,

Ser.

2005-9,

Class

A1

b

21,790

CAFL

Issuer,

LLC

950,000

2.239%, 

3/28/2029,

Ser.

2021-RTL1,

Class

A1

f

878,028

CHL

Mortgage

Pass-Through

Trust

323,582

4.063%, 

12/20/2035,

Ser.

2005-HYB8,

Class

3A1

b

307,865

716,729

6.000%, 

11/25/2037,

Ser.

2007-18,

Class

1A2

285,222

CHNGE

Mortgage

Trust

1,041,954

3.757%, 

3/25/2067,

Ser.

2022-2,

Class

A1

b,f

956,639

1,029,473

5.000%, 

5/25/2067,

Ser.

2022-3,

Class

A1

b,f

995,934

1,128,529

6.525%, 

6/25/2058,

Ser.

2023-2,

Class

A1

f,g

1,108,112

579,963

5.820%, 

6/25/2067,

Ser.

2022-NQM1,

Class

A3

f,g

558,101

711,426

7.100%, 

7/25/2058,

Ser.

2023-3,

Class

A1

f,g

707,454

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

60

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Collateralized

Mortgage

Obligations

(5.1%)

-

continued

$

639,196

6.000%, 

10/25/2057,

Ser.

2022-4,

Class

A1

f,g

$

622,175

CIM

Trust

1,031,746

7.100%, 

4/25/2058,

Ser.

2023-I1,

Class

A3

f,g

1,023,617

Citigroup

Mortgage

Loan

Trust,

Inc.

258,345

5.500%, 

8/25/2034,

Ser.

2004-NCM2,

Class

1CB1

222,898

53,034

4.524%, 

3/25/2037,

Ser.

2007-AR4,

Class

2A1A

b

51,721

739,589

4.259%, 

4/25/2037,

Ser.

2007-AR5,

Class

1A1A

b

631,064

Countrywide

Alternative

Loan

Trust

355,032

5.000%, 

3/25/2035,

Ser.

2005-3CB,

Class

1A1

283,951

182,144

3.784%, 

10/25/2035,

Ser.

2005-43,

Class

4A1

b

146,938

132,273

3.991%, 

10/25/2035,

Ser.

2005-43,

Class

1A1

b

112,695

195,549

5.500%, 

2/25/2036,

Ser.

2005-85CB,

Class

2A2

149,387

Countrywide

Home

Loan

Mortgage

Pass

Through

Trust

269,515

3.728%, 

11/25/2035,

Ser.

2005-22,

Class

2A1

b

214,600

Credit

Suisse

Mortgage

Trust

523,951

6.567%, 

8/25/2067,

Ser.

2022-ATH3,

Class

A3

b,f

511,398

394,254

2.572%, 

11/25/2066,

Ser.

2022-NQM1,

Class

A2

b,f

311,963

Deutsche

Alt-A

Securities,

Inc.,

Mortgage

Loan

Trust

549,914

5.250%, 

6/25/2035,

Ser.

2005-3,

Class

4A6

476,995

Eagle

RE,

Ltd.

1,000,000

9.265%, 

(SOFR30A

+

3.950%),

9/26/2033,

Ser.

2023-1,

Class

M1B

b,e,f

1,000,000

Federal

Home

Loan

Mortgage

Corporation

1,319,792

3.500%, 

8/15/2035,

Ser.

345,

Class

C8

i

142,579

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

1,450,903

4.000%, 

1/25/2051,

Ser.

5249,

Class

LA

1,368,833

1,238,559

Zero

Coupon, 

9/25/2053,

Ser.

5334,

Class

BO

921,720

4,234,273

1.500%, 

12/25/2050,

Ser.

5107,

Class

IO

i

351,633

123,516

2.500%, 

5/15/2027,

Ser.

4106,

Class

HI

i

2,299

621,257

3.000%, 

5/15/2027,

Ser.

4046,

Class

GI

i

19,542

563,031

3.000%, 

7/15/2027,

Ser.

4084,

Class

NI

i

20,680

849,675

3.000%, 

7/15/2027,

Ser.

4074,

Class

IO

i

32,213

282,886

2.500%, 

2/15/2028,

Ser.

4162,

Class

AI

i

10,068

594,971

2.500%, 

2/15/2028,

Ser.

4161,

Class

UI

i

20,984

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Collateralized

Mortgage

Obligations

(5.1%)

-

continued

$

917,126

2.500%, 

3/15/2028,

Ser.

4177,

Class

EI

i

$

34,417

1,040,459

3.500%, 

10/15/2032,

Ser.

4119,

Class

KI

i

101,766

640,162

3.000%, 

2/15/2033,

Ser.

4170,

Class

IG

i

54,485

1,138,766

3.000%, 

4/15/2033,

Ser.

4203,

Class

DI

i

57,571

Federal

National

Mortgage

Association

-

REMIC

1,005,386

4.500%, 

6/25/2052,

Ser.

2022-43,

Class

MA

957,960

2,196,347

4.000%, 

7/25/2052,

Ser.

2022-37,

Class

PE

2,065,990

1,023,617

3.000%, 

7/25/2027,

Ser.

2012-73,

Class

DI

i

33,601

685,730

3.000%, 

7/25/2027,

Ser.

2012-74,

Class

AI

i

23,182

1,158,319

3.000%, 

8/25/2027,

Ser.

2012-95,

Class

HI

i

30,560

701,837

3.500%, 

9/25/2027,

Ser.

2012-98,

Class

YI

i

26,395

1,970,437

3.000%, 

11/25/2027,

Ser.

2012-121,

Class

BI

i

78,654

1,432,832

3.000%, 

12/25/2027,

Ser.

2012-139,

Class

DI

i

52,533

511,506

2.500%, 

1/25/2028,

Ser.

2012-152,

Class

AI

i

17,662

1,303,162

3.000%, 

1/25/2028,

Ser.

2012-147,

Class

EI

i

42,936

377,489

2.500%, 

2/25/2028,

Ser.

2013-46,

Class

CI

i

10,388

727,740

3.000%, 

2/25/2028,

Ser.

2013-2,

Class

GI

i

29,027

264,083

3.000%, 

4/25/2028,

Ser.

2013-30,

Class

DI

i

10,924

835,495

3.000%, 

11/25/2031,

Ser.

2013-69,

Class

IO

i

22,769

974,521

3.000%, 

2/25/2033,

Ser.

2013-1,

Class

YI

i

83,276

945,016

4.500%, 

1/25/2046,

Ser.

2022-68,

Class

BA

913,461

First

Horizon

Alternative

Mortgage

Securities

Trust

126,009

6.392%, 

3/25/2035,

Ser.

2005-AA2,

Class

1A1

b

117,680

114,384

6.038%, 

7/25/2035,

Ser.

2005-AA5,

Class

2A1

b

103,035

Flagstar

Mortgage

Trust

384,423

2.500%, 

9/25/2041,

Ser.

2021-9INV,

Class

A1

b,f

319,113

GCAT

Trust

478,631

5.730%, 

8/25/2067,

Ser.

2022-NQM4,

Class

A3

f,g

463,611

Genworth

Mortgage

Insurance

Corporation

249,700

7.215%, 

(SOFR30A

+

1.900%),

2/25/2034,

Ser.

2021-3,

Class

M1A

b,f

250,032

GMAC

Mortgage

Corporation

Loan

Trust

394,284

3.530%, 

5/25/2035,

Ser.

2005-AR2,

Class

4A

b

319,178

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

61

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Collateralized

Mortgage

Obligations

(5.1%)

-

continued

Government

National

Mortgage

Association

$

157,906

4.000%, 

1/16/2027,

Ser.

2012-3,

Class

IO

i

$

4,287

GS

Mortgage-Backed

Securities

Trust

724,975

5.500%, 

10/27/2053,

Ser.

2023-PJ3,

Class

A16

b,f

700,139

Home

RE,

Ltd.

850,000

8.815%, 

(SOFR30A

+

3.500%),

10/25/2034,

Ser.

2022-1,

Class

M1B

b,f

866,401

IndyMac

IMJA

Mortgage

Loan

Trust

562,001

6.250%, 

11/25/2037,

Ser.

2007-A3,

Class

A1

245,405

J.P.

Morgan

Mortgage

Trust

499,917

2.774%, 

5/25/2052,

Ser.

2021-LTV2,

Class

A2

b,f

388,805

739,042

5.000%, 

10/25/2053,

Ser.

2023-3,

Class

A4A

b,f

702,379

64,785

6.500%, 

1/25/2035,

Ser.

2005-S1,

Class

1A2

63,526

295,798

4.198%, 

2/25/2036,

Ser.

2006-A1,

Class

2A2

b

222,788

Merrill

Lynch

Alternative

Note

Asset

Trust

507,273

6.000%, 

3/25/2037,

Ser.

2007-F1,

Class

2A1

192,494

MortgageIT

Trust

1,260,931

5.894%, 

(TSFR1M

+

0.574%),

6/25/2047,

Ser.

2007-1,

Class

1A1

b

1,010,822

PRKCM

Trust

1,109,284

7.087%, 

6/25/2058,

Ser.

2023-AFC2,

Class

A3

f

1,102,531

Residential

Accredit

Loans,

Inc.

Trust

323,403

6.000%, 

8/25/2035,

Ser.

2005-QS10,

Class

2A

266,926

212,358

6.000%, 

1/25/2037,

Ser.

2007-QS1,

Class

1A1

159,081

210,307

6.250%, 

4/25/2037,

Ser.

2007-QS6,

Class

A6

164,364

Residential

Asset

Securitization

Trust

327,985

3.785%, 

1/25/2034,

Ser.

2004-IP1,

Class

A1

b

298,466

Residential

Funding

Mortgage

Security

I

Trust

468,920

6.000%, 

7/25/2037,

Ser.

2007-S7,

Class

A20

348,774

ROC

Securities

Trust

Series

900,000

2.487%, 

8/25/2026,

Ser.

2021-RTL1,

Class

A1

b,f

875,704

Sequoia

Mortgage

Trust

378,478

3.482%, 

9/20/2046,

Ser.

2007-1,

Class

4A1

b

257,131

Structured

Adjustable

Rate

Mortgage

Loan

Trust

144,478

4.570%, 

7/25/2035,

Ser.

2005-15,

Class

4A1

b

121,327

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Collateralized

Mortgage

Obligations

(5.1%)

-

continued

TVC

Mortgage

Trust

$

900,000

8.250%, 

11/25/2027,

Ser.

2023-RTL1,

Class

A1

f

$

896,977

Verus

Securitization

Trust

873,734

2.491%, 

11/25/2066,

Ser.

2021-8,

Class

A3

b,f

708,178

585,455

6.560%, 

12/25/2067,

Ser.

2023-1,

Class

A2

f,g

580,708

WaMu

Mortgage

Pass-Through

Certificates

116,232

4.639%, 

5/25/2033,

Ser.

2003-AR4,

Class

A7

b

110,847

Washington

Mutual

Mortgage

Pass-Through

Certificates

253,759

6.000%, 

3/25/2035,

Ser.

2005-1,

Class

2A

202,098

Total

32,871,000

Commercial

Mortgage-Backed

Securities

(0.7%)

BANK5

2023-5YR1

1,000,000

6.625%, 

4/15/2056,

Ser.

2023-5YR1,

Class

AS

b

985,793

BBCMS

Mortgage

Trust

1,253,875

0.839%, 

2/15/2055,

Ser.

2022-C14,

Class

XA

b,i

49,823

3,991,515

1.325%, 

9/15/2055,

Ser.

2022-C17,

Class

XA

b,i

301,112

BFLD

Trust

950,000

7.147%, 

(TSFR1M

+

1.814%),

10/15/2035,

Ser.

2020-EYP,

Class

B

b,f

559,324

Federal

Home

Loan

Mortgage

Corporation

Multifamily

Structured

Pass

Through

Certificates

650,000

4.200%, 

5/25/2033,

Ser.

K-157,

Class

A2

j

597,829

MSWF

Commercial

Mortgage

Trust

900,000

5.752%, 

5/15/2033,

Ser.

2023-1,

Class

A5

886,442

SCOTT

Trust

650,000

5.910%, 

3/15/2040,

Ser.

2023-SFS,

Class

A

f

630,041

Silver

Hill

Trust

282,378

3.102%, 

11/25/2049,

Ser.

2019-1,

Class

A1

b,f

265,864

Total

4,276,228

Communications

Services

(2.4%)

Allen

Media,

LLC/Allen

Media

Co-

Issuer,

Inc.

261,000

10.500%, 

2/15/2028

f

149,284

Altice

Financing

SA

130,000

5.750%, 

8/15/2029

f

106,539

Altice

France

SA/France

135,000

8.125%, 

2/1/2027

f

119,717

156,000

5.125%, 

7/15/2029

f

110,901

359,000

5.500%, 

10/15/2029

f

258,162

AMC

Networks,

Inc.

120,000

5.000%, 

4/1/2024

118,343

371,000

4.250%, 

2/15/2029

227,644

American

Tower

Corporation

161,000

4.400%, 

2/15/2026

155,878

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

62

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Communications

Services

(2.4%)

-

continued

$

96,000

1.450%, 

9/15/2026

$

84,603

127,000

5.500%, 

3/15/2028

124,598

88,000

5.800%, 

11/15/2028

87,338

126,000

3.800%, 

8/15/2029

112,078

AT&T,

Inc.

288,000

4.300%, 

2/15/2030

262,253

88,000

5.400%, 

2/15/2034

82,359

Bell

Telephone

Company

of

Canada

87,000

5.100%, 

5/11/2033

81,329

Cable

One,

Inc.,

Convertible

513,000

1.125%, 

3/15/2028

381,672

CCO

Holdings,

LLC/CCO

Holdings

Capital

Corporation

180,000

5.500%, 

5/1/2026

f

173,866

460,000

5.125%, 

5/1/2027

f

428,589

195,000

5.000%, 

2/1/2028

f

177,087

460,000

4.750%, 

3/1/2030

f

386,148

224,000

4.250%, 

2/1/2031

f

178,313

109,000

4.750%, 

2/1/2032

f

87,200

250,000

4.250%, 

1/15/2034

f

184,070

Cengage

Learning,

Inc.

12,000

9.500%, 

6/15/2024

f

12,010

CenterPoint

Energy,

Inc.,

Convertible

11,250

3.369%, 

9/15/2029

453,712

Charter

Communications

Operating,

LLC/Charter

Communications

Operating

Capital

Corporation

104,000

4.908%, 

7/23/2025

101,624

147,000

5.050%, 

3/30/2029

137,409

Cimpress

plc

173,000

7.000%, 

6/15/2026

161,912

Clear

Channel

Outdoor

Holdings,

Inc.

52,000

7.500%, 

6/1/2029

f,h

39,761

Clear

Channel

Worldwide

Holdings,

Inc.

408,000

5.125%, 

8/15/2027

f

362,301

Comcast

Corporation

97,000

2.350%, 

1/15/2027

87,855

210,000

3.400%, 

4/1/2030

185,234

Connect

Finco

SARL/Connect

US

Finco,

LLC

149,000

6.750%, 

10/1/2026

f

138,972

Crown

Castle,

Inc.

133,000

2.900%, 

3/15/2027

120,634

CSC

Holdings,

LLC

540,000

5.375%, 

2/1/2028

f

439,620

253,000

6.500%, 

2/1/2029

f

209,594

48,000

4.125%, 

12/1/2030

f

33,970

Deutsche

Telekom

International

Finance

BV

244,000

8.750%, 

6/15/2030

279,488

DIRECTV

Financing,

LLC/DIRECTV

Financing

Co-Obligor,

Inc.

437,000

5.875%, 

8/15/2027

f

386,387

DISH

DBS

Corporation

99,000

5.875%, 

11/15/2024

92,148

136,000

5.250%, 

12/1/2026

f

115,580

101,000

7.375%, 

7/1/2028

63,639

44,000

5.750%, 

12/1/2028

f

33,825

152,000

5.125%, 

6/1/2029

84,266

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Communications

Services

(2.4%)

-

continued

DISH

Network

Corporation

$

137,000

11.750%, 

11/15/2027

f

$

138,023

Frontier

Communications

Holdings,

LLC

322,000

5.875%, 

10/15/2027

f

292,849

116,000

6.750%, 

5/1/2029

f

89,248

73,000

8.750%, 

5/15/2030

f

69,312

GCI,

LLC

225,000

4.750%, 

10/15/2028

f

194,062

Gray

Escrow

II,

Inc.

374,000

5.375%, 

11/15/2031

f

244,760

Gray

Television,

Inc.

270,000

4.750%, 

10/15/2030

f,h

178,867

Hughes

Satellite

Systems

Corporation

150,000

6.625%, 

8/1/2026

128,250

Iliad

Holding

SASU

356,000

6.500%, 

10/15/2026

f

334,467

Lamar

Media

Corporation

154,000

3.625%, 

1/15/2031

125,411

LCPR

Senior

Secured

Financing

DAC

225,000

6.750%, 

10/15/2027

f

206,662

Level

3

Financing,

Inc.

387,000

4.625%, 

9/15/2027

f

278,318

119,000

4.250%, 

7/1/2028

f

74,141

138,000

10.500%, 

5/15/2030

f

138,909

McGraw-Hill

Education,

Inc.

191,000

5.750%, 

8/1/2028

f

164,785

18,000

8.000%, 

8/1/2029

f

15,615

Meta

Platforms,

Inc.

85,000

4.600%, 

5/15/2028

83,148

88,000

4.800%, 

5/15/2030

85,716

News

Corporation

276,000

3.875%, 

5/15/2029

f

237,360

NTT

Finance

Corporation

117,000

1.162%, 

4/3/2026

f

105,017

Outfront

Media

Capital,

LLC/

Outfront

Media

Capital

Corporation

120,000

6.250%, 

6/15/2025

f

117,567

104,000

4.625%, 

3/15/2030

f,h

81,755

Paramount

Global

125,000

6.375%, 

3/30/2062

b

98,176

79,000

4.750%, 

5/15/2025

76,838

Playtika

Holding

Corporation

248,000

4.250%, 

3/15/2029

f

207,080

Radiate

Holdco,

LLC/Radiate

Finance,

Inc.

155,000

6.500%, 

9/15/2028

f

81,375

Rogers

Communications,

Inc.

50,000

5.250%, 

3/15/2082

b,f

44,214

Scripps

Escrow

II,

Inc.

111,000

3.875%, 

1/15/2029

f

83,476

Sirius

XM

Radio,

Inc.

296,000

5.000%, 

8/1/2027

f

270,366

200,000

4.000%, 

7/15/2028

f

170,714

Sprint

Capital

Corporation

195,000

6.875%, 

11/15/2028

201,337

136,000

8.750%, 

3/15/2032

157,331

TEGNA,

Inc.

354,000

4.625%, 

3/15/2028

306,210

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

63

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Communications

Services

(2.4%)

-

continued

Telecom

Italia

Capital

SA

$

88,000

6.000%, 

9/30/2034

$

73,373

Telecom

Italia

SPA/Milano

120,000

5.303%, 

5/30/2024

f

117,983

Telesat

Canada/Telesat,

LLC

150,000

4.875%, 

6/1/2027

f

97,201

55,000

6.500%, 

10/15/2027

f

28,050

T-Mobile

USA,

Inc.

113,000

3.500%, 

4/15/2025

109,035

165,000

3.375%, 

4/15/2029

145,124

United

States

Cellular

Corporation

250,000

6.700%, 

12/15/2033

243,125

Uniti

Group,

LP/Uniti

Group

Finance,

Inc./CSL

Capital,

LLC

366,000

4.750%, 

4/15/2028

f

298,869

Univision

Communications,

Inc.

265,000

6.625%, 

6/1/2027

f

246,802

Verizon

Communications,

Inc.

161,000

2.100%, 

3/22/2028

138,289

147,000

3.150%, 

3/22/2030

125,470

221,000

2.550%, 

3/21/2031

175,968

194,000

2.355%, 

3/15/2032

148,014

Vodafone

Group

plc

220,000

7.000%, 

4/4/2079

b

218,506

VTR

Finance

NV

190,000

6.375%, 

7/15/2028

f

70,915

VZ

Secured

Financing

BV

253,000

5.000%, 

1/15/2032

f

198,745

Walt

Disney

Company

80,000

3.800%, 

3/22/2030

72,565

Warnermedia

Holdings,

Inc.

87,000

3.638%, 

3/15/2025

83,911

230,000

4.054%, 

3/15/2029

204,921

YPSO

Finance

BIS

SA

122,000

10.500%, 

5/15/2027

f

76,089

Total

15,572,226

Consumer

Cyclical

(3.5%)

1011778

B.C.,

ULC/New

Red

Finance,

Inc.

440,000

4.375%, 

1/15/2028

f

396,593

Adient

Global

Holdings,

Ltd.

157,000

4.875%, 

8/15/2026

f

148,073

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation

150,000

6.625%, 

7/15/2026

f

142,131

135,000

6.000%, 

6/1/2029

f

100,641

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation/

Atlas

Luxco

4

SARL

410,000

4.625%, 

6/1/2028

f

341,678

Allison

Transmission,

Inc.

158,000

3.750%, 

1/30/2031

f

127,727

Amazon.com,

Inc.

98,000

1.500%, 

6/3/2030

77,584

175,000

4.700%, 

12/1/2032

167,085

American

Axle

&

Manufacturing,

Inc.

370,000

6.500%, 

4/1/2027

351,289

American

Honda

Finance

Corporation

88,000

4.600%, 

4/17/2030

83,473

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Consumer

Cyclical

(3.5%)

-

continued

Arko

Corporation

$

185,000

5.125%, 

11/15/2029

f

$

149,210

Ashton

Woods

USA,

LLC/Ashton

Woods

Finance

Company

180,000

4.625%, 

8/1/2029

f

151,896

106,000

4.625%, 

4/1/2030

f

86,771

Best

Buy

Company,

Inc.

98,000

1.950%, 

10/1/2030

76,412

Bloomin'

Brands,

Inc.,

Convertible

89,000

5.000%, 

5/1/2025

194,854

Booking

Holdings,

Inc.,

Convertible

163,000

0.750%, 

5/1/2025

272,210

Boyd

Gaming

Corporation

270,000

4.750%, 

6/15/2031

f

229,764

Boyne

USA,

Inc.

106,000

4.750%, 

5/15/2029

f

92,713

Brookfield

Residential

Properties,

Inc./Brookfield

Residential

US,

LLC

169,000

6.250%, 

9/15/2027

f

152,154

Burlington

Stores,

Inc.,

Convertible

278,000

2.250%, 

4/15/2025

269,493

Caesars

Entertainment,

Inc.

55,000

8.125%, 

7/1/2027

f

55,262

298,000

4.625%, 

10/15/2029

f

252,424

Carnival

Corporation

152,000

7.625%, 

3/1/2026

f

147,863

427,000

5.750%, 

3/1/2027

f

386,531

112,000

4.000%, 

8/1/2028

f

97,113

Cedar

Fair,

LP

276,000

5.250%, 

7/15/2029

239,872

Churchill

Downs,

Inc.

185,000

4.750%, 

1/15/2028

f

166,878

116,000

6.750%, 

5/1/2031

f

109,620

Cinemark

USA,

Inc.

325,000

5.875%, 

3/15/2026

f,h

312,039

Clarios

Global,

LP/Clarios

US

Finance

Company,

Inc.

140,000

8.500%, 

5/15/2027

f,h

139,598

287,000

6.750%, 

5/15/2028

f

280,184

Cracker

Barrel

Old

Country

Store,

Inc.,

Convertible

14,000

0.625%, 

6/15/2026

11,559

D.R.

Horton,

Inc.

56,000

2.600%, 

10/15/2025

52,399

Expedia

Group,

Inc.

146,000

3.250%, 

2/15/2030

123,487

Expedia

Group,

Inc.,

Convertible

541,000

Zero

Coupon, 

2/15/2026

470,021

Ford

Motor

Company

445,000

3.250%, 

2/12/2032

342,945

251,000

6.100%, 

8/19/2032

h

236,420

Ford

Motor

Company,

Convertible

620,000

Zero

Coupon, 

3/15/2026

609,150

Ford

Motor

Credit

Company,

LLC

210,000

2.300%, 

2/10/2025

196,973

720,000

4.134%, 

8/4/2025

682,620

367,000

2.700%, 

8/10/2026

327,498

168,000

2.900%, 

2/10/2029

137,877

Forestar

Group,

Inc.

185,000

3.850%, 

5/15/2026

f

167,923

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

64

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Consumer

Cyclical

(3.5%)

-

continued

General

Motors

Company

$

147,000

6.800%, 

10/1/2027

$

150,015

General

Motors

Financial

Company,

Inc.

233,000

3.950%, 

4/13/2024

229,880

83,000

1.200%, 

10/15/2024

78,887

43,000

2.900%, 

2/26/2025

41,025

111,000

2.750%, 

6/20/2025

104,495

135,000

5.800%, 

6/23/2028

131,884

196,000

5.700%, 

9/30/2030

b,k

167,503

Goodyear

Tire

&

Rubber

Company

185,000

5.000%, 

7/15/2029

159,344

Guitar

Center

Escrow

Issuer

II,

Inc.

89,000

8.500%, 

1/15/2026

f,h

77,297

Hanesbrands,

Inc.

257,000

4.875%, 

5/15/2026

f,h

235,607

Hilton

Domestic

Operating

Company,

Inc.

161,000

4.875%, 

1/15/2030

146,522

114,000

3.625%, 

2/15/2032

f

91,906

Hilton

Grand

Vacations

Borrower

Escrow,

LLC/Hilton

Grand

Vacations

Borrower

Escrow,

Inc.

183,000

5.000%, 

6/1/2029

f

158,743

Home

Depot,

Inc.

137,000

3.250%, 

4/15/2032

117,540

Hyatt

Hotels

Corporation

79,000

5.750%, 

1/30/2027

78,493

Hyundai

Capital

America

57,000

5.500%, 

3/30/2026

f

56,252

147,000

3.000%, 

2/10/2027

f

133,181

94,000

2.100%, 

9/15/2028

f

77,994

International

Game

Technology

plc

347,000

5.250%, 

1/15/2029

f

319,764

Jacobs

Entertainment,

Inc.

158,000

6.750%, 

2/15/2029

f

140,225

Jaguar

Land

Rover

Automotive

plc

305,000

5.500%, 

7/15/2029

f

260,774

KB

Home

240,000

4.800%, 

11/15/2029

211,200

Kohl's

Corporation

81,000

4.625%, 

5/1/2031

54,435

L

Brands,

Inc.

370,000

6.625%, 

10/1/2030

f

346,879

100,000

6.875%, 

11/1/2035

89,308

Lennar

Corporation

110,000

4.750%, 

5/30/2025

107,612

Light

&

Wonder

International,

Inc.

241,000

7.250%, 

11/15/2029

f

236,180

Live

Nation

Entertainment,

Inc.,

Convertible

337,000

2.000%, 

2/15/2025

343,223

424,000

3.125%, 

1/15/2029

f

439,688

Lowe's

Companies,

Inc.

219,000

4.500%, 

4/15/2030

204,351

Macy's

Retail

Holdings,

LLC

270,000

5.875%, 

4/1/2029

f,h

236,409

Marriott

International,

Inc./MD

83,000

4.900%, 

4/15/2029

79,136

146,000

4.625%, 

6/15/2030

134,489

Marriott

Vacations

Worldwide

Corporation,

Convertible

251,000

Zero

Coupon, 

1/15/2026

219,751

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Consumer

Cyclical

(3.5%)

-

continued

$

264,000

3.250%, 

12/15/2027

f

$

230,340

Mattamy

Group

Corporation

218,000

5.250%, 

12/15/2027

f

198,954

McDonald's

Corporation

94,000

4.950%, 

8/14/2033

89,665

Mercedes-Benz

Finance

North

America,

LLC

150,000

1.450%, 

3/2/2026

f

135,996

150,000

5.200%, 

8/3/2026

f

148,484

Michaels

Companies,

Inc.

189,000

5.250%, 

5/1/2028

f,h

150,841

NCL

Corporation,

Ltd.

105,000

3.625%, 

12/15/2024

f

100,833

78,000

5.875%, 

3/15/2026

f

72,013

154,000

5.875%, 

2/15/2027

f

146,449

Nordstrom,

Inc.

92,000

4.375%, 

4/1/2030

70,776

130,000

4.250%, 

8/1/2031

h

94,279

O'Reilly

Automotive,

Inc.

128,000

3.900%, 

6/1/2029

117,851

PENN

Entertainment,

Inc.

270,000

4.125%, 

7/1/2029

f

220,640

PetSmart,

Inc./PetSmart

Finance

Corporation

370,000

4.750%, 

2/15/2028

f

323,912

139,000

7.750%, 

2/15/2029

f

129,533

Prime

Security

Services

Borrower,

LLC/Prime

Finance,

Inc.

345,000

5.750%, 

4/15/2026

f

334,708

213,000

6.250%, 

1/15/2028

f

197,274

Realogy

Group,

LLC/Realogy

Group

Co-Issuer

Corporation

350,000

5.750%, 

1/15/2029

f

253,033

Royal

Caribbean

Cruises,

Ltd.

42,000

11.500%, 

6/1/2025

f

44,336

403,000

4.250%, 

7/1/2026

f

369,507

178,000

9.250%, 

1/15/2029

f

188,046

92,000

7.250%, 

1/15/2030

f

91,180

Scientific

Games

Holdings,

LP/

Scientific

Games

US

FinCo,

Inc.

33,000

6.625%, 

3/1/2030

f

28,463

SeaWorld

Parks

and

Entertainment,

Inc.

175,000

5.250%, 

8/15/2029

f

153,720

Six

Flags

Theme

Parks,

Inc.

96,000

7.000%, 

7/1/2025

f

95,757

Staples,

Inc.

224,000

7.500%, 

4/15/2026

f

184,205

136,000

10.750%, 

4/15/2027

f

79,839

Station

Casinos,

LLC

216,000

4.625%, 

12/1/2031

f

172,775

Tapestry,

Inc.

92,000

3.050%, 

3/15/2032

67,397

Target

Corporation

177,000

2.350%, 

2/15/2030

147,925

Tenneco,

Inc.

173,000

8.000%, 

11/17/2028

f

140,779

Toyota

Motor

Credit

Corporation

95,000

4.700%, 

1/12/2033

89,770

Tractor

Supply

Company

88,000

5.250%, 

5/15/2033

83,094

Tripadvisor,

Inc.

58,000

7.000%, 

7/15/2025

f

57,890

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

65

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Consumer

Cyclical

(3.5%)

-

continued

Uber

Technologies,

Inc.,

Convertible

$

426,000

Zero

Coupon, 

12/15/2025

$

397,422

Vail

Resorts,

Inc.,

Convertible

448,000

Zero

Coupon, 

1/1/2026

394,240

VICI

Properties,

LP/VICI

Note

Company,

Inc.

326,000

5.750%, 

2/1/2027

f

315,590

Viking

Cruises,

Ltd.

375,000

5.875%, 

9/15/2027

f

342,263

Volkswagen

Group

of

America

Finance,

LLC

200,000

4.250%, 

11/13/2023

f

199,580

56,000

3.350%, 

5/13/2025

f

53,664

Wabash

National

Corporation

298,000

4.500%, 

10/15/2028

f

251,024

Walmart,

Inc.

129,000

4.000%, 

4/15/2030

121,156

Wyndham

Hotels

&

Resorts,

Inc.

150,000

4.375%, 

8/15/2028

f

134,727

Yum!

Brands,

Inc.

272,000

4.750%, 

1/15/2030

f

244,316

ZF

North

America

Capital,

Inc.

150,000

7.125%, 

4/14/2030

f

146,967

Total

22,429,212

Consumer

Non-Cyclical

(2.9%)

1375209

B.C.,

Ltd.

192,000

9.000%, 

1/30/2028

f

189,787

Abbott

Laboratories

272,000

1.400%, 

6/30/2030

216,111

AbbVie,

Inc.

457,000

3.600%, 

5/14/2025

441,669

AdaptHealth,

LLC

139,000

4.625%, 

8/1/2029

f

106,683

Albertsons

Companies,

Inc./

Safeway,

Inc./New

Albertsons,

LP/Albertsons,

LLC

364,000

4.625%, 

1/15/2027

f

343,695

261,000

3.500%, 

3/15/2029

f

222,525

Amgen,

Inc.

128,000

5.150%, 

3/2/2028

125,887

219,000

5.250%, 

3/2/2030

213,960

Anheuser-Busch

InBev

Worldwide,

Inc.

183,000

4.000%, 

4/13/2028

173,171

195,000

4.750%, 

1/23/2029

189,065

Archer-Daniels-Midland

Company

88,000

4.500%, 

8/15/2033

81,798

AstraZeneca

Finance,

LLC

195,000

1.750%, 

5/28/2028

166,912

B&G

Foods,

Inc.

188,000

5.250%, 

4/1/2025

184,489

116,000

5.250%, 

9/15/2027

97,147

128,000

8.000%, 

9/15/2028

f

128,175

BAT

Capital

Corporation

97,000

6.343%, 

8/2/2030

95,543

93,000

7.750%, 

10/19/2032

98,235

Bausch

&

Lomb

Escrow

Corporation

48,000

8.375%, 

10/1/2028

f

48,143

Bausch

Health

Companies,

Inc.

109,000

5.500%, 

11/1/2025

f

96,531

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Consumer

Non-Cyclical

(2.9%)

-

continued

$

424,000

4.875%, 

6/1/2028

f

$

241,123

79,000

11.000%, 

9/30/2028

f

53,598

Becton,

Dickinson

and

Company

71,000

4.693%, 

2/13/2028

68,833

147,000

2.823%, 

5/20/2030

123,760

BellRing

Brands,

Inc.

162,000

7.000%, 

3/15/2030

f

159,515

BioMarin

Pharmaceutical,

Inc.,

Convertible

369,000

1.250%, 

5/15/2027

h

365,531

Bio-Rad

Laboratories,

Inc.

133,000

3.300%, 

3/15/2027

122,578

Cargill,

Inc.

172,000

2.125%, 

11/10/2031

f

133,955

Catalent

Pharma

Solutions,

Inc.

173,000

3.125%, 

2/15/2029

f,h

141,894

Central

Garden

&

Pet

Company

350,000

4.125%, 

10/15/2030

291,800

Cheplapharm

Arzneimittel

GmbH

40,000

5.500%, 

1/15/2028

f

36,293

Chobani,

LLC/Chobani

Finance

Corporation,

Inc.

285,000

4.625%, 

11/15/2028

f

251,364

CHS/Community

Health

Systems,

Inc.

191,000

5.625%, 

3/15/2027

f

163,823

59,000

8.000%, 

12/15/2027

f

55,017

251,000

6.000%, 

1/15/2029

f

202,703

107,000

5.250%, 

5/15/2030

f

81,339

111,000

4.750%, 

2/15/2031

f

78,557

Cigna

Group

126,000

2.400%, 

3/15/2030

103,460

Constellation

Brands,

Inc.

195,000

3.150%, 

8/1/2029

170,845

32,000

4.900%, 

5/1/2033

29,700

Coty,

Inc./HFC

Prestige

Products,

Inc./HFC

Prestige

International

US,

LLC

348,000

4.750%, 

1/15/2029

f

313,816

37,000

6.625%, 

7/15/2030

f

36,125

CVS

Health

Corporation

81,000

5.000%, 

2/20/2026

79,743

77,000

4.300%, 

3/25/2028

72,874

81,000

5.125%, 

2/21/2030

77,908

88,000

5.300%, 

6/1/2033

83,350

Diageo

Capital

plc

97,000

2.000%, 

4/29/2030

78,691

Edgewell

Personal

Care

Company

200,000

5.500%, 

6/1/2028

f

184,750

Eli

Lilly

&

Company

176,000

4.700%, 

2/27/2033

169,429

Embecta

Corporation

91,000

6.750%, 

2/15/2030

f

74,392

Encompass

Health

Corporation

346,000

4.500%, 

2/1/2028

315,246

Energizer

Holdings,

Inc.

335,000

4.375%, 

3/31/2029

f

279,574

Envista

Holdings

Corporation,

Convertible

56,000

1.750%, 

8/15/2028

51,576

Fortrea

Holdings,

Inc.

70,000

7.500%, 

7/1/2030

f

68,111

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

66

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Consumer

Non-Cyclical

(2.9%)

-

continued

General

Mills,

Inc.

$

35,000

4.950%, 

3/29/2033

$

32,794

Gilead

Sciences,

Inc.

89,000

5.250%, 

10/15/2033

86,811

Grifols

SA

243,000

4.750%, 

10/15/2028

f

207,184

HLF

Financing

SARL,

LLC/

Herbalife

International,

Inc.

366,000

4.875%, 

6/1/2029

f

259,860

Imperial

Brands

Finance

plc

105,000

3.125%, 

7/26/2024

f

102,323

Integer

Holdings

Corporation,

Convertible

377,000

2.125%, 

2/15/2028

f

409,611

Jazz

Investments

I,

Ltd.,

Convertible

446,000

2.000%, 

6/15/2026

454,084

Jazz

Securities

DAC

155,000

4.375%, 

1/15/2029

f

135,142

JBS

USA

LUX

SA/JBS

USA

Food

Company/JBS

Luxembourg

SARL

82,000

6.750%, 

3/15/2034

f

79,785

JBS

USA

LUX

SA/JBS

USA

Food

Company/JBS

USA

Finance,

Inc.

231,000

2.500%, 

1/15/2027

204,047

114,000

3.625%, 

1/15/2032

90,768

Kenvue,

Inc.

176,000

5.350%, 

3/22/2026

f

175,582

44,000

5.000%, 

3/22/2030

f

42,869

Keurig

Dr.

Pepper,

Inc.

107,000

3.200%, 

5/1/2030

92,274

Kraft

Heinz

Foods

Company

98,000

3.875%, 

5/15/2027

92,323

87,000

6.750%, 

3/15/2032

91,877

Kroger

Company

80,000

4.500%, 

1/15/2029

75,994

Lamb

Weston

Holdings,

Inc.

164,000

4.125%, 

1/31/2030

f

140,244

Legacy

LifePoint

Health,

LLC

104,000

4.375%, 

2/15/2027

f

89,440

LifePoint

Health,

Inc.

98,000

11.000%, 

10/15/2030

f

98,000

Mattel,

Inc.

272,000

3.375%, 

4/1/2026

f

251,518

McKesson

Corporation

111,000

0.900%, 

12/3/2025

100,280

95,000

1.300%, 

8/15/2026

84,538

Medtronic

Global

Holdings

SCA

86,000

4.500%, 

3/30/2033

80,114

ModivCare

Escrow

Issuer,

Inc.

87,000

5.000%, 

10/1/2029

f

62,423

ModivCare,

Inc.

69,000

5.875%, 

11/15/2025

f

65,589

Mozart

Debt

Merger

Sub,

Inc.

269,000

3.875%, 

4/1/2029

f

227,419

184,000

5.250%, 

10/1/2029

f,h

159,031

Mylan,

Inc.

73,000

4.200%, 

11/29/2023

72,771

Nestle

Holdings,

Inc.

171,000

4.950%, 

3/14/2030

f

167,984

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Consumer

Non-Cyclical

(2.9%)

-

continued

Newell

Brands,

Inc.

$

230,000

4.700%, 

4/1/2026

$

216,750

Organon

&

Company/Organon

Foreign

Debt

Co-Issuer

BV

264,000

4.125%, 

4/30/2028

f

229,392

144,000

5.125%, 

4/30/2031

f

115,395

Owens

&

Minor,

Inc.

234,000

6.625%, 

4/1/2030

f,h

207,695

Perrigo

Finance

Unlimited

Company

251,000

4.375%, 

3/15/2026

234,690

Pfizer

Investment

Enterprises

Pte,

Ltd.

119,000

4.450%, 

5/19/2026

116,252

88,000

4.750%, 

5/19/2033

83,184

Philip

Morris

International,

Inc.

255,000

4.875%, 

2/13/2026

250,814

168,000

4.875%, 

2/15/2028

162,754

93,000

5.625%, 

11/17/2029

91,945

93,000

5.750%, 

11/17/2032

90,742

Post

Holdings,

Inc.

229,000

4.500%, 

9/15/2031

f

190,595

Post

Holdings,

Inc.,

Convertible

241,000

2.500%, 

8/15/2027

238,952

Primo

Water

Holdings,

Inc.

237,000

4.375%, 

4/30/2029

f

202,635

Procter

&

Gamble

Company

81,000

1.200%, 

10/29/2030

62,696

RegionalCare

Hospital

Partners

Holdings,

Inc./LifePoint

Health,

Inc.

104,000

9.750%, 

12/1/2026

f

100,683

Roche

Holdings,

Inc.

93,000

1.930%, 

12/13/2028

f

79,410

136,000

2.076%, 

12/13/2031

f

107,315

Royalty

Pharma

plc

222,000

1.200%, 

9/2/2025

201,743

Scotts

Miracle-Gro

Company

97,000

4.500%, 

10/15/2029

79,300

SEG

Holding,

LLC

400,000

5.625%, 

10/15/2028

f

401,000

Simmons

Foods,

Inc.

200,000

4.625%, 

3/1/2029

f

164,065

Spectrum

Brands,

Inc.

240,000

5.000%, 

10/1/2029

f

217,464

150,000

5.500%, 

7/15/2030

f

136,005

Star

Parent,

Inc.

160,000

9.000%, 

10/1/2030

f

161,680

Stryker

Corporation

159,000

3.650%, 

3/7/2028

148,339

Sysco

Corporation

84,000

5.950%, 

4/1/2030

84,696

Takeda

Pharmaceutical

Company,

Ltd.

161,000

5.000%, 

11/26/2028

157,564

Tenet

Healthcare

Corporation

505,000

5.125%, 

11/1/2027

469,971

140,000

6.125%, 

10/1/2028

131,425

Teva

Pharmaceutical

Finance

Netherlands

III

BV

188,000

3.150%, 

10/1/2026

167,559

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

67

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Consumer

Non-Cyclical

(2.9%)

-

continued

Topgolf

Callaway

Brands

Corporation,

Convertible

$

91,000

2.750%, 

5/1/2026

$

94,412

TreeHouse

Foods,

Inc.

237,000

4.000%, 

9/1/2028

h

192,266

Unilever

Capital

Corporation

100,000

5.000%, 

12/8/2033

96,841

Winnebago

Industries,

Inc.,

Convertible

200,000

1.500%, 

4/1/2025

223,600

Wyeth,

LLC

215,000

6.500%, 

2/1/2034

231,229

Zoetis,

Inc.

131,000

5.600%, 

11/16/2032

130,402

Total

18,484,938

Energy

(2.7%)

Antero

Midstream

Partners,

LP/

Antero

Midstream

Finance

Corporation

62,000

5.375%, 

6/15/2029

f

56,766

Antero

Resources

Corporation

93,000

5.375%, 

3/1/2030

f

85,622

Archrock

Partners,

LP/Archrock

Partners

Finance

Corporation

340,000

6.250%, 

4/1/2028

f

316,548

Baytex

Energy

Corporation

174,000

8.500%, 

4/30/2030

f

176,058

BP

Capital

Markets

America,

Inc.

235,000

4.234%, 

11/6/2028

223,452

127,000

4.812%, 

2/13/2033

118,857

BP

Capital

Markets

plc

165,000

4.875%, 

3/22/2030

b,k

147,415

Buckeye

Partners,

LP

280,000

3.950%, 

12/1/2026

251,437

Callon

Petroleum

Company

125,000

7.500%, 

6/15/2030

f,h

121,197

Cheniere

Energy

Partners,

LP

97,000

4.500%, 

10/1/2029

87,831

97,000

3.250%, 

1/31/2032

77,095

114,000

5.950%, 

6/30/2033

f

109,950

Chesapeake

Energy

Corporation

132,000

6.750%, 

4/15/2029

f

129,176

Chord

Energy

Corporation

131,000

6.375%, 

6/1/2026

f

128,448

Civitas

Resources,

Inc.

79,000

8.375%, 

7/1/2028

f

80,382

109,000

8.750%, 

7/1/2031

f

111,340

CNX

Resources

Corporation

101,000

6.000%, 

1/15/2029

f

94,377

CNX

Resources

Corporation,

Convertible

328,000

2.250%, 

5/1/2026

593,024

Columbia

Pipelines

Holding

Company,

LLC

78,000

6.055%, 

8/15/2026

f

78,245

175,000

6.042%, 

8/15/2028

f

174,113

Comstock

Resources,

Inc.

183,000

5.875%, 

1/15/2030

f

158,410

CQP

Holdco,

LP/BIP-V

Chinnok

Holdco,

LLC

217,000

5.500%, 

6/15/2031

f

192,338

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Energy

(2.7%)

-

continued

Crescent

Energy

Finance,

LLC

$

191,000

9.250%, 

2/15/2028

f

$

195,001

CrownRock,

LP/CrownRock

Finance,

Inc.

157,000

5.625%, 

10/15/2025

f

154,480

Diamond

Foreign

Asset

Company/

Diamond

Finance,

LLC

64,000

8.500%, 

10/1/2030

f

64,009

Diamondback

Energy,

Inc.

224,000

3.125%, 

3/24/2031

186,588

DT

Midstream,

Inc.

130,000

4.125%, 

6/15/2029

f

112,455

90,000

4.375%, 

6/15/2031

f

75,682

Enbridge,

Inc.

190,000

7.375%, 

1/15/2083

b

180,684

182,000

7.625%, 

1/15/2083

b

173,784

98,000

3.700%, 

7/15/2027

91,104

44,000

5.700%, 

3/8/2033

42,152

Enerflex,

Ltd.

155,000

9.000%, 

10/15/2027

f

153,062

Energy

Transfer,

LP

210,000

6.500%, 

11/15/2026

b,k

192,959

147,000

3.750%, 

5/15/2030

128,051

EnLink

Midstream

Partners,

LP

263,000

4.850%, 

7/15/2026

247,603

Enterprise

Products

Operating,

LLC

97,000

4.150%, 

10/16/2028

90,941

215,000

8.619%, 

(TSFR3M

+

3.248%),

8/16/2077

b

212,386

EQM

Midstream

Partners,

LP

480,000

4.750%, 

1/15/2031

f

413,155

EQT

Corporation,

Convertible

182,000

1.750%, 

5/1/2026

505,159

Ferrellgas,

LP/Ferrellgas

Finance

Corporation

196,000

5.375%, 

4/1/2026

f

183,710

Genesis

Energy

LP/Genesis

Energy

Finance

Corporation

256,000

8.875%, 

4/15/2030

249,956

Harvest

Midstream,

LP

326,000

7.500%, 

9/1/2028

f

315,122

Hess

Midstream

Operations,

LP

156,000

5.625%, 

2/15/2026

f

150,735

Hilcorp

Energy

I,

LP/Hilcorp

Finance

Company

300,000

5.750%, 

2/1/2029

f

270,898

149,000

6.250%, 

4/15/2032

f

132,483

Howard

Midstream

Energy

Partners,

LLC

289,000

6.750%, 

1/15/2027

f

274,550

ITT

Holdings,

LLC

265,000

6.500%, 

8/1/2029

f

224,620

Laredo

Petroleum,

Inc.

299,000

7.750%, 

7/31/2029

f

278,167

Marathon

Oil

Corporation

98,000

4.400%, 

7/15/2027

92,177

MEG

Energy

Corporation

227,000

5.875%, 

2/1/2029

f

211,990

MPLX,

LP

243,000

1.750%, 

3/1/2026

220,340

43,000

5.000%, 

3/1/2033

39,183

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

68

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Energy

(2.7%)

-

continued

Murphy

Oil

Corporation

$

195,000

5.875%, 

12/1/2027

$

189,229

Nabors

Industries,

Ltd.

350,000

7.250%, 

1/15/2026

f

338,187

National

Fuel

Gas

Company

195,000

5.500%, 

1/15/2026

191,776

New

Fortress

Energy,

Inc.

120,000

6.750%, 

9/15/2025

f

114,553

Noble

Finance

II,

LLC

193,000

8.000%, 

4/15/2030

f

195,524

Northern

Oil

and

Gas,

Inc.

174,000

8.750%, 

6/15/2031

f

175,305

Northern

Oil

and

Gas,

Inc.,

Convertible

264,000

3.625%, 

4/15/2029

f

326,117

Northriver

Midstream

Finance,

LP

95,000

5.625%, 

2/15/2026

f

90,530

NuStar

Logistics,

LP

141,000

5.750%, 

10/1/2025

137,123

Occidental

Petroleum

Corporation

137,000

6.375%, 

9/1/2028

138,022

ONEOK,

Inc.

146,000

2.200%, 

9/15/2025

135,855

83,000

5.550%, 

11/1/2026

82,459

87,000

5.650%, 

11/1/2028

85,873

Ovintiv,

Inc.

54,000

5.650%, 

5/15/2025

53,691

38,000

5.650%, 

5/15/2028

37,169

89,000

6.250%, 

7/15/2033

86,055

PBF

Holding

Company,

LLC/PBF

Finance

Corporation

127,000

6.000%, 

2/15/2028

119,783

Permian

Resources

Operating,

LLC

144,000

7.000%, 

1/15/2032

f

142,015

Permian

Resources

Operating,

LLC,

Convertible

101,000

3.250%, 

4/1/2028

238,421

Phillips

66

Company

130,000

4.950%, 

12/1/2027

127,396

Pioneer

Natural

Resources

Company

120,000

1.900%, 

8/15/2030

94,146

Pioneer

Natural

Resources

Company,

Convertible

186,000

0.250%, 

5/15/2025

455,588

Plains

All

American

Pipeline,

LP

110,000

9.736%, 

(TSFR3M

+

4.372%),

11/2/2023

b,h,k

103,802

Plains

All

American

Pipeline,

LP/

PAA

Finance

Corporation

206,000

4.650%, 

10/15/2025

200,013

Precision

Drilling

Corporation

230,000

6.875%, 

1/15/2029

f

217,856

Range

Resources

Corporation

140,000

4.750%, 

2/15/2030

f

124,250

Rockcliff

Energy

II,

LLC

185,000

5.500%, 

10/15/2029

f

166,494

Rockies

Express

Pipeline,

LLC

48,000

4.950%, 

7/15/2029

f

42,753

Schlumberger

Holdings

Corporation

61,000

4.300%, 

5/1/2029

f

57,202

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Energy

(2.7%)

-

continued

SM

Energy

Company

$

61,000

6.625%, 

1/15/2027

$

59,780

135,000

6.500%, 

7/15/2028

129,600

Southwestern

Energy

Company

135,000

5.375%, 

3/15/2030

122,992

135,000

4.750%, 

2/1/2032

115,869

Suburban

Propane

Partners,

LP/

Suburban

Energy

Finance

Corporation

86,000

5.875%, 

3/1/2027

82,130

Suncor

Energy,

Inc.

87,000

7.150%, 

2/1/2032

91,517

Sunoco,

LP/Sunoco

Finance

Corporation

305,000

5.875%, 

3/15/2028

292,591

Tallgrass

Energy

Partners

LP/

Tallgrass

Energy

Finance

Corporation

317,000

5.500%, 

1/15/2028

f

288,470

Targa

Resources

Partners,

LP

233,000

4.875%, 

2/1/2031

208,686

Teine

Energy,

Ltd.

190,000

6.875%, 

4/15/2029

f

174,325

TransCanada

Trust

313,000

5.875%, 

8/15/2076

b

285,388

Transocean,

Inc.

180,000

11.500%, 

1/30/2027

f

188,775

68,400

8.750%, 

2/15/2030

f

69,939

USA

Compression

Partners,

LP/

USA

Compression

Finance

Corporation

264,000

6.875%, 

4/1/2026

258,599

Valaris,

Ltd.

172,000

8.375%, 

4/30/2030

f

172,129

Venture

Global

Calcasieu

Pass,

LLC

273,000

3.875%, 

8/15/2029

f

229,724

65,000

6.250%, 

1/15/2030

f

62,002

160,000

4.125%, 

8/15/2031

f

131,299

Venture

Global

LNG,

Inc.

355,000

8.375%, 

6/1/2031

f

348,987

Weatherford

International,

Ltd.

297,000

8.625%, 

4/30/2030

f

299,274

Williams

Companies,

Inc.

98,000

2.600%, 

3/15/2031

78,053

Total

17,532,583

Financials

(7.8%)

Acrisure,

LLC/Acrisure

Finance,

Inc.

55,000

6.000%, 

8/1/2029

f

46,219

AerCap

Holdings

NV

220,000

5.875%, 

10/10/2079

b

213,944

AerCap

Ireland

Capital

DAC/

AerCap

Global

Aviation

Trust

90,000

3.150%, 

2/15/2024

88,973

150,000

6.500%, 

7/15/2025

150,173

150,000

5.750%, 

6/6/2028

146,545

254,000

3.000%, 

10/29/2028

217,799

Air

Lease

Corporation

114,000

2.300%, 

2/1/2025

107,986

180,000

4.650%, 

6/15/2026

b,k

158,515

98,000

3.125%, 

12/1/2030

79,798

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

69

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Financials

(7.8%)

-

continued

Aircastle,

Ltd.

$

205,000

5.250%, 

6/15/2026

b,f,k

$

161,201

98,000

2.850%, 

1/26/2028

f

83,151

Alliant

Holdings

Intermediate,

LLC/

Alliant

Holdings

Co-Issuer,

Inc.

148,000

6.750%, 

10/15/2027

f

137,642

Ally

Financial,

Inc.

145,000

5.750%, 

11/20/2025

h

140,847

390,000

4.700%, 

5/15/2026

b,k

267,634

98,000

8.000%, 

11/1/2031

h

98,944

50,000

6.700%, 

2/14/2033

43,405

American

Express

Company

127,000

3.950%, 

8/1/2025

122,856

190,000

3.550%, 

9/15/2026

b,k

150,858

222,000

2.550%, 

3/4/2027

200,159

American

Homes

4

Rent,

LP

97,000

2.375%, 

7/15/2031

73,956

American

International

Group,

Inc.

176,000

5.125%, 

3/27/2033

163,761

AmWINS

Group,

Inc.

180,000

4.875%, 

6/30/2029

f

157,721

Arbor

Realty

Trust,

Inc.,

Convertible

151,000

7.500%, 

8/1/2025

f

151,849

Ares

Capital

Corporation

57,000

4.250%, 

3/1/2025

54,816

191,000

2.150%, 

7/15/2026

167,575

Ares

Capital

Corporation,

Convertible

200,000

4.625%, 

3/1/2024

202,875

Assurant,

Inc.

128,000

6.100%, 

2/27/2026

127,354

Australia

&

New

Zealand

Banking

Group,

Ltd.

216,000

2.950%, 

7/22/2030

b,f

200,511

Aviation

Capital

Group,

LLC

96,000

4.875%, 

10/1/2025

f

92,240

Avolon

Holdings

Funding,

Ltd.

195,000

4.250%, 

4/15/2026

f

183,280

BAC

Capital

Trust

XIV

248,000

6.071%, 

(TSFR3M

+

0.662%),

10/18/2023

b,k

191,704

Banco

Santander

Mexico

SA

67,000

5.375%, 

4/17/2025

f

65,851

Banco

Santander

SA

82,000

4.750%, 

11/12/2026

b,k

60,832

Bank

of

America

Corporation

244,000

4.200%, 

8/26/2024

239,728

475,000

6.250%, 

9/5/2024

b,h,k

467,321

113,000

3.458%, 

3/15/2025

b

111,491

240,000

6.100%, 

3/17/2025

b,k

235,017

279,000

1.319%, 

6/19/2026

b

255,864

225,000

6.125%, 

4/27/2027

b,k

215,578

145,000

1.734%, 

7/22/2027

b

128,493

186,000

4.376%, 

4/27/2028

b

175,631

294,000

3.593%, 

7/21/2028

b

268,485

127,000

4.948%, 

7/22/2028

b

122,030

145,000

5.819%, 

9/15/2029

b

143,220

392,000

3.974%, 

2/7/2030

b

352,054

328,000

2.687%, 

4/22/2032

b

257,789

144,000

2.572%, 

10/20/2032

b

110,649

179,000

2.972%, 

2/4/2033

b

141,151

92,000

3.846%, 

3/8/2037

b

74,829

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Financials

(7.8%)

-

continued

Bank

of

Montreal

$

80,000

5.920%, 

9/25/2025

$

79,824

130,000

5.203%, 

2/1/2028

126,891

92,000

3.088%, 

1/10/2037

b

68,556

Bank

of

New

York

Mellon

Corporation

127,000

4.596%, 

7/26/2030

b

119,540

Bank

of

Nova

Scotia

140,000

5.250%, 

12/6/2024

138,712

110,000

4.900%, 

6/4/2025

b,k

100,608

98,000

1.050%, 

3/2/2026

87,467

Barclays

plc

111,000

4.375%, 

9/11/2024

108,762

134,000

2.852%, 

5/7/2026

b

126,409

85,000

5.501%, 

8/9/2028

b

81,675

145,000

4.972%, 

5/16/2029

b

135,456

110,000

6.224%, 

5/9/2034

b

104,202

88,000

7.119%, 

6/27/2034

b

84,756

Berkshire

Hathaway

Finance

Corporation

279,000

2.875%, 

3/15/2032

233,983

Blackstone

Mortgage

Trust,

Inc.,

Convertible

76,000

5.500%, 

3/15/2027

67,592

Blue

Owl

Capital

Corporation

97,000

4.250%, 

1/15/2026

90,747

Blue

Owl

Credit

Income

Corporation

136,000

4.700%, 

2/8/2027

123,756

Blue

Owl

Technology

Finance

Corporation

48,000

4.750%, 

12/15/2025

f

44,398

147,000

3.750%, 

6/17/2026

f

130,458

BNP

Paribas

SA

141,000

2.819%, 

11/19/2025

b,f

135,421

122,000

3.132%, 

1/20/2033

b,f

95,854

BPCE

SA

114,000

2.375%, 

1/14/2025

f

108,023

Bread

Financial

Holdings,

Inc.,

Convertible

75,000

4.250%, 

6/15/2028

f

80,857

Brixmor

Operating

Partnership,

LP

159,000

2.250%, 

4/1/2028

133,891

Brookfield

Property

REIT,

Inc./BPR

Cumulus,

LLC/BPR

Nimbus,

LLC/GGSI

Sellco,

LLC

55,000

4.500%, 

4/1/2027

f

45,835

Burford

Capital

Global

Finance,

LLC

200,000

9.250%, 

7/1/2031

f

202,896

Canadian

Imperial

Bank

of

Commerce

127,000

3.945%, 

8/4/2025

122,612

80,000

5.926%, 

10/2/2026

e

79,981

Capital

One

Financial

Corporation

110,000

3.950%, 

9/1/2026

b,k

82,565

135,000

3.273%, 

3/1/2030

b

112,927

Capital

One

NA

171,000

2.280%, 

1/28/2026

b,h

161,491

Castlelake

Aviation

Finance

DAC

84,000

5.000%, 

4/15/2027

f

76,722

Centene

Corporation

361,000

3.000%, 

10/15/2030

291,186

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

70

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Financials

(7.8%)

-

continued

Charles

Schwab

Corporation

$

440,000

5.375%, 

6/1/2025

b,k

$

422,720

169,000

0.900%, 

3/11/2026

149,808

340,000

4.000%, 

6/1/2026

b,k

283,970

84,000

5.875%, 

8/24/2026

83,723

126,000

2.000%, 

3/20/2028

106,325

87,000

6.136%, 

8/24/2034

b

84,630

Citigroup,

Inc.

195,000

9.699%, 

(TSFR3M

+

4.330%),

10/30/2023

b,k

194,628

101,000

5.000%, 

9/12/2024

b,k

95,513

141,000

3.352%, 

4/24/2025

b

138,485

274,000

5.500%, 

9/13/2025

270,692

360,000

3.875%, 

2/18/2026

b,k

307,203

125,000

4.150%, 

11/15/2026

b,k

100,048

338,000

1.122%, 

1/28/2027

b

301,198

194,000

1.462%, 

6/9/2027

b

171,483

172,000

3.070%, 

2/24/2028

b

156,021

90,000

7.375%, 

5/15/2028

b,h,k

87,329

175,000

7.625%, 

11/15/2028

b,k

170,730

391,000

4.075%, 

4/23/2029

b

359,853

87,000

6.174%, 

5/25/2034

b

83,139

Citizens

Financial

Group,

Inc.

205,000

4.000%, 

10/6/2026

b,k

151,933

CNA

Financial

Corporation

126,000

3.950%, 

5/15/2024

124,350

Coinbase

Global,

Inc.,

Convertible

574,000

0.500%, 

6/1/2026

430,844

Comerica,

Inc.

120,000

5.625%, 

7/1/2025

b,h,k

109,953

Commonwealth

Bank

of

Australia

117,000

2.688%, 

3/11/2031

f

89,018

Cooperatieve

Rabobank

UA

111,000

1.339%, 

6/24/2026

b,f

102,139

Corebridge

Financial,

Inc.

136,000

6.875%, 

12/15/2052

b

130,287

87,000

6.050%, 

9/15/2033

f

84,556

Corporate

Office

Properties,

LP

192,000

2.250%, 

3/15/2026

172,858

Corporate

Office

Properties,

LP,

Convertible

49,000

5.250%, 

9/15/2028

f

49,073

Credit

Acceptance

Corporation

310,000

5.125%, 

12/31/2024

f

301,932

Credit

Agricole

SA

196,000

8.125%, 

12/23/2025

b,f,k

194,577

98,000

3.250%, 

1/14/2030

f

81,790

Credit

Suisse

Group

AG

110,000

7.500%, 

12/11/2023

*,b,k,l

10,450

110,000

7.250%, 

9/12/2025

b,f,k,l

10,450

Dai-ichi

Life

Insurance

Company,

Ltd.

243,000

5.100%, 

10/28/2024

b,f,k

238,245

Deutsche

Bank

AG/New

York,

NY

332,000

2.129%, 

11/24/2026

b

300,244

150,000

2.311%, 

11/16/2027

b

130,618

136,000

3.742%, 

1/7/2033

b

97,593

Discover

Bank

196,000

5.974%, 

(USISOA05

+

1.730%),

8/9/2028

b

179,346

Discover

Financial

Services

46,000

6.700%, 

11/29/2032

44,465

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Financials

(7.8%)

-

continued

Drawbridge

Special

Opportunities

Fund,

LP

$

410,000

3.875%, 

2/15/2026

f

$

364,783

Elevance

Health,

Inc.

133,000

5.350%, 

10/15/2025

132,161

257,000

2.550%, 

3/15/2031

208,265

Enact

Holdings,

Inc.

149,000

6.500%, 

8/15/2025

f

146,751

Encore

Capital

Group,

Inc.,

Convertible

182,000

4.000%, 

3/15/2029

f

174,343

Extra

Space

Storage,

LP

96,000

2.400%, 

10/15/2031

73,495

Fifth

Third

Bancorp

240,000

4.500%, 

9/30/2025

b,k

214,939

86,000

4.772%, 

7/28/2030

b

78,071

Fifth

Third

Bank

NA

237,000

3.850%, 

3/15/2026

219,216

First

Horizon

Bank

146,000

5.750%, 

5/1/2030

h

130,681

First-Citizens

Bank

&

Trust

Company

194,000

6.125%, 

3/9/2028

192,691

Five

Corners

Funding

Trust

III

100,000

5.791%, 

2/15/2033

f

98,107

Fortress

Transportation

and

Infrastructure

Investors,

LLC

219,000

6.500%, 

10/1/2025

f

215,243

98,000

9.750%, 

8/1/2027

f

101,365

15,000

5.500%, 

5/1/2028

f

13,599

Freedom

Mortgage

Corporation

64,000

12.000%, 

10/1/2028

f

65,078

FS

KKR

Capital

Corporation

96,000

3.400%, 

1/15/2026

87,973

97,000

2.625%, 

1/15/2027

83,065

Global

Net

Lease,

Inc./Global

Net

Lease

Operating

Partnership,

LP

301,000

3.750%, 

12/15/2027

f

233,048

Goldman

Sachs

Group,

Inc.

183,000

5.500%, 

8/10/2024

b,k

178,375

111,000

3.500%, 

4/1/2025

106,879

167,000

4.250%, 

10/21/2025

160,932

166,000

0.855%, 

2/12/2026

b

153,836

124,000

3.650%, 

8/10/2026

b,k

99,954

188,000

4.125%, 

11/10/2026

b,k

153,770

173,000

1.948%, 

10/21/2027

b

152,751

92,000

2.640%, 

2/24/2028

b

82,037

185,000

4.482%, 

8/23/2028

b

175,105

196,000

3.814%, 

4/23/2029

b

177,975

98,000

3.800%, 

3/15/2030

86,476

98,000

2.615%, 

4/22/2032

b

76,546

97,000

2.383%, 

7/21/2032

b

73,874

Hartford

Financial

Services

Group,

Inc.

98,000

2.800%, 

8/19/2029

84,063

HAT

Holdings

I,

LLC/HAT

Holdings

II,

LLC,

Convertible

20,000

Zero

Coupon, 

5/1/2025

f

19,300

150,000

3.750%, 

8/15/2028

f

145,781

HSBC

Holdings

plc

109,000

3.803%, 

3/11/2025

b

107,656

110,000

6.375%, 

3/30/2025

b,k

105,667

141,000

2.633%, 

11/7/2025

b

135,106

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

71

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Financials

(7.8%)

-

continued

$

133,000

1.589%, 

5/24/2027

b

$

117,273

200,000

2.251%, 

11/22/2027

b

176,544

273,000

4.583%, 

6/19/2029

b

252,399

35,000

4.600%, 

12/17/2030

b,k

26,449

117,000

2.804%, 

5/24/2032

b

90,622

HUB

International,

Ltd.

293,000

5.625%, 

12/1/2029

f

255,132

Huntington

Bancshares,

Inc.

260,000

4.450%, 

10/15/2027

b,k

210,307

Icahn

Enterprises,

LP/Icahn

Enterprises

Finance

Corporation

162,000

6.375%, 

12/15/2025

154,105

179,000

5.250%, 

5/15/2027

157,337

ING

Groep

NV

200,000

1.726%, 

4/1/2027

b

178,938

100,000

6.083%, 

9/11/2027

b

99,556

Intercontinental

Exchange,

Inc.

137,000

4.350%, 

6/15/2029

128,871

Invitation

Homes

Operating

Partnership,

LP

145,000

2.000%, 

8/15/2031

107,306

J.P.

Morgan

Chase

&

Company

75,000

8.934%, 

(TSFR3M

+

3.562%),

11/1/2023

b,k

75,254

347,000

5.000%, 

8/1/2024

b,k

335,400

136,000

4.600%, 

2/1/2025

b,k

127,227

111,000

2.083%, 

4/22/2026

b

104,185

190,000

3.650%, 

6/1/2026

b,k

165,839

277,000

1.045%, 

11/19/2026

b

248,942

195,000

1.578%, 

4/22/2027

b

174,024

178,000

2.947%, 

2/24/2028

b

161,473

294,000

4.005%, 

4/23/2029

b

270,942

97,000

2.069%, 

6/1/2029

b

81,733

392,000

4.493%, 

3/24/2031

b

358,924

92,000

2.963%, 

1/25/2033

b

73,244

83,000

4.912%, 

7/25/2033

b

76,364

94,000

5.717%, 

9/14/2033

b

90,360

83,000

5.350%, 

6/1/2034

b

78,707

Jefferies

Finance,

LLC/JFIN

Co-

Issuer

Corporation

78,000

5.000%, 

8/15/2028

f

65,676

KeyBank

NA/Cleveland,

OH

147,000

3.900%, 

4/13/2029

119,159

166,000

5.000%, 

1/26/2033

139,733

Kilroy

Realty,

LP

127,000

4.250%, 

8/15/2029

108,803

Lincoln

National

Corporation

235,000

7.996%, 

(LIBOR

3M

+

2.358%),

11/17/2023

b

163,487

Lloyds

Banking

Group

plc

310,000

1.627%, 

5/11/2027

b

274,948

M&T

Bank

Corporation

360,000

3.500%, 

9/1/2026

b,k

253,166

Macquarie

Group,

Ltd.

195,000

1.629%, 

9/23/2027

b,f

170,352

Manufacturers

&

Traders

Trust

Company

177,000

4.700%, 

1/27/2028

163,469

Marsh

&

McLennan

Companies,

Inc.

88,000

2.375%, 

12/15/2031

69,193

MetLife,

Inc.

240,000

3.850%, 

9/15/2025

b,k

222,021

130,000

5.875%, 

3/15/2028

b,k

122,105

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Financials

(7.8%)

-

continued

$

182,000

6.400%, 

12/15/2036

$

177,836

Metropolitan

Life

Global

Funding

I

159,000

2.950%, 

4/9/2030

f

134,738

Mid-America

Apartments,

LP

196,000

4.200%, 

6/15/2028

184,143

Mitsubishi

UFJ

Financial

Group,

Inc.

134,000

1.412%, 

7/17/2025

123,618

200,000

1.538%, 

7/20/2027

b

177,146

Mizuho

Financial

Group,

Inc.

200,000

1.554%, 

7/9/2027

b

176,842

200,000

2.564%, 

9/13/2031

151,365

88,000

5.748%, 

7/6/2034

b

84,002

Molina

Healthcare,

Inc.

200,000

4.375%, 

6/15/2028

f

179,210

Morgan

Stanley

111,000

5.816%, 

(SOFRRATE

+

0.466%),

11/10/2023

b

111,001

114,000

2.720%, 

7/22/2025

b

110,635

192,000

1.164%, 

10/21/2025

b

181,242

78,000

5.000%, 

11/24/2025

76,451

226,000

2.188%, 

4/28/2026

b

212,303

148,000

6.138%, 

10/16/2026

b

148,141

196,000

1.593%, 

5/4/2027

b

174,456

193,000

1.512%, 

7/20/2027

b

170,533

65,000

5.123%, 

2/1/2029

b

62,596

294,000

3.622%, 

4/1/2031

b

253,273

92,000

2.943%, 

1/21/2033

b

72,451

85,000

4.889%, 

7/20/2033

b

77,233

88,000

5.250%, 

4/21/2034

b

81,706

102,000

5.424%, 

7/21/2034

b

96,216

185,000

2.484%, 

9/16/2036

b

134,382

MPT

Operating

Partnership,

LP/

MPT

Finance

Corporation

145,000

5.250%, 

8/1/2026

h

123,495

2,000

4.625%, 

8/1/2029

1,417

Nasdaq,

Inc.

80,000

5.350%, 

6/28/2028

78,538

Nationstar

Mortgage

Holdings,

Inc.

198,000

6.000%, 

1/15/2027

f

187,095

NatWest

Group

plc

135,000

4.269%, 

3/22/2025

b

133,554

98,000

4.892%, 

5/18/2029

b

91,659

146,000

3.754%, 

11/1/2029

b

139,013

Necessity

Retail

REIT,

Inc./

American

Finance

Operating

Partner,

LP

221,000

4.500%, 

9/30/2028

f

167,867

New

York

Life

Global

Funding

83,000

4.550%, 

1/28/2033

f

76,091

NFP

Corporation

104,000

6.875%, 

8/15/2028

f

89,095

Nippon

Life

Insurance

Company

480,000

5.100%, 

10/16/2044

b,f

471,001

NNN

REIT,

Inc.

98,000

2.500%, 

4/15/2030

79,198

Nomura

Holdings,

Inc.

145,000

2.172%, 

7/14/2028

120,308

Northern

Trust

Corporation

138,000

4.000%, 

5/10/2027

130,538

Office

Properties

Income

Trust

84,000

2.650%, 

6/15/2026

57,143

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

72

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Financials

(7.8%)

-

continued

Omega

Healthcare

Investors,

Inc.

$

95,000

4.750%, 

1/15/2028

$

87,918

98,000

3.375%, 

2/1/2031

76,616

OneMain

Finance

Corporation

549,000

6.875%, 

3/15/2025

544,648

70,000

3.875%, 

9/15/2028

56,185

Park

Intermediate

Holdings,

LLC

309,000

4.875%, 

5/15/2029

f

261,399

Pebblebrook

Hotel

Trust,

Convertible

624,000

1.750%, 

12/15/2026

517,546

Pine

Street

Trust

I

98,000

4.572%, 

2/15/2029

f

88,183

PNC

Bank

NA

98,000

2.700%, 

10/22/2029

79,728

PNC

Financial

Services

Group,

Inc.

179,000

5.671%, 

10/28/2025

b

177,618

180,000

3.400%, 

9/15/2026

b,k

133,159

181,000

6.200%, 

9/15/2027

b,h,k

166,340

77,000

5.582%, 

6/12/2029

b

74,699

180,000

6.250%, 

3/15/2030

b,k

154,299

PRA

Group,

Inc.

155,000

7.375%, 

9/1/2025

f

150,932

128,000

8.375%, 

2/1/2028

f

116,480

Principal

Life

Global

Funding

II

146,000

1.250%, 

8/16/2026

f

127,777

Prologis,

LP

66,000

3.375%, 

12/15/2027

60,684

Provident

Financing

Trust

I

112,000

7.405%, 

3/15/2038

110,464

Prudential

Financial,

Inc.

90,000

5.125%, 

3/1/2052

b

77,503

138,000

6.750%, 

3/1/2053

b

133,432

414,000

5.200%, 

3/15/2044

b,h

405,049

120,000

3.700%, 

10/1/2050

b

97,594

Public

Storage

Operating

Company

93,000

5.100%, 

8/1/2033

88,900

QBE

Insurance

Group,

Ltd.

100,000

5.875%, 

5/12/2025

b,f,k

95,055

Radian

Group,

Inc.

185,000

4.875%, 

3/15/2027

172,859

Realty

Income

Corporation

96,000

4.875%, 

6/1/2026

94,210

112,000

3.950%, 

8/15/2027

105,012

112,000

5.625%, 

10/13/2032

108,277

Redwood

Trust,

Inc.,

Convertible

27,000

7.750%, 

6/15/2027

24,148

Regions

Financial

Corporation

85,000

2.250%, 

5/18/2025

79,292

145,000

5.750%, 

6/15/2025

b,h,k

137,574

Reinsurance

Group

of

America,

Inc.

87,000

6.000%, 

9/15/2033

83,942

RLJ

Lodging

Trust,

LP

97,000

3.750%, 

7/1/2026

f

87,726

217,000

4.000%, 

9/15/2029

f

177,710

Rocket

Mortgage,

LLC/Rocket

Mortgage

Co-Issuer,

Inc.

240,000

3.625%, 

3/1/2029

f

198,416

Royal

Bank

of

Canada

69,000

0.750%, 

10/7/2024

65,459

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Financials

(7.8%)

-

continued

$

237,000

5.000%, 

2/1/2033

$

220,826

Santander

Holdings

USA,

Inc.

196,000

3.450%, 

6/2/2025

186,415

90,000

2.490%, 

1/6/2028

b

78,145

87,000

6.499%, 

3/9/2029

b

84,848

Santander

UK

Group

Holdings

plc

200,000

1.673%, 

6/14/2027

b

174,940

Service

Properties

Trust

109,000

4.650%, 

3/15/2024

107,514

62,000

4.350%, 

10/1/2024

59,477

111,000

7.500%, 

9/15/2025

109,050

200,000

5.500%, 

12/15/2027

170,927

Simon

Property

Group,

LP

159,000

2.650%, 

7/15/2030

130,800

SLM

Corporation

100,000

4.200%, 

10/29/2025

93,571

Societe

Generale

SA

141,000

2.625%, 

10/16/2024

f

135,517

133,000

1.488%, 

12/14/2026

b,f

118,738

Spirit

Realty,

LP

163,000

3.200%, 

1/15/2027

147,665

Standard

Chartered

plc

133,000

0.991%, 

1/12/2025

b,f

130,799

105,000

6.000%, 

7/26/2025

b,f,h,k

99,718

131,000

2.608%, 

1/12/2028

b,f

115,966

Starwood

Property

Trust,

Inc.,

Convertible

241,000

6.750%, 

7/15/2027

246,904

State

Street

Corporation

78,000

5.272%, 

8/3/2026

77,267

91,000

4.421%, 

5/13/2033

b

81,638

Sumitomo

Life

Insurance

Company

265,000

3.375%, 

4/15/2081

b,f

220,237

Sumitomo

Mitsui

Financial

Group,

Inc.

141,000

2.448%, 

9/27/2024

136,175

131,000

2.174%, 

1/14/2027

116,515

200,000

5.716%, 

9/14/2028

197,388

147,000

2.142%, 

9/23/2030

113,495

132,000

5.766%, 

1/13/2033

129,006

Sumitomo

Mitsui

Trust

Bank,

Ltd.

111,000

1.050%, 

9/12/2025

f

101,110

Summit

Hotel

Properties,

Inc.,

Convertible

203,000

1.500%, 

2/15/2026

170,520

Synchrony

Financial

115,000

4.250%, 

8/15/2024

112,309

49,000

7.250%, 

2/2/2033

43,248

Synovus

Bank

87,000

5.625%, 

2/15/2028

78,828

Toronto-Dominion

Bank

125,000

8.125%, 

10/31/2082

b

124,357

87,000

5.156%, 

1/10/2028

84,911

124,000

5.523%, 

7/17/2028

122,393

91,000

4.456%, 

6/8/2032

81,605

Truist

Bank

99,000

2.250%, 

3/11/2030

75,781

Truist

Financial

Corporation

160,000

6.047%, 

6/8/2027

b

158,260

80,000

1.887%, 

6/7/2029

b

65,696

315,000

5.100%, 

3/1/2030

b,k

269,313

U.S.

Bancorp

136,000

5.727%, 

10/21/2026

b

134,869

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

73

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Financials

(7.8%)

-

continued

$

127,000

4.548%, 

7/22/2028

b

$

119,292

42,000

5.836%, 

6/12/2034

b

39,612

UBS

Group

AG

117,000

2.593%, 

9/11/2025

b,f

112,610

169,000

2.193%, 

6/5/2026

b,f

157,180

200,000

4.875%, 

2/12/2027

b,f,k

167,443

200,000

6.327%, 

12/22/2027

b,f

199,679

191,000

3.869%, 

1/12/2029

b,f

173,005

UDR,

Inc.

193,000

3.000%, 

8/15/2031

h

156,739

United

Wholesale

Mortgage,

LLC

61,000

5.500%, 

11/15/2025

f

58,022

156,000

5.500%, 

4/15/2029

f

131,820

UnitedHealth

Group,

Inc.

184,000

5.250%, 

2/15/2028

184,313

185,000

4.200%, 

5/15/2032

168,853

USB

Realty

Corporation

146,000

6.717%, 

(TSFR3M

+

1.409%),

1/15/2027

b,f,k

106,202

USI,

Inc./NY

78,000

6.875%, 

5/1/2025

f

77,399

Ventas

Realty,

LP

110,000

3.750%, 

5/1/2024

108,468

Ventas

Realty,

LP,

Convertible

342,000

3.750%, 

6/1/2026

f

333,279

Wells

Fargo

&

Company

233,000

2.406%, 

10/30/2025

b

223,285

335,000

3.900%, 

3/15/2026

b,k

292,572

169,000

2.188%, 

4/30/2026

b

158,680

220,000

6.070%, 

(TSFR3M

+

0.762%),

1/15/2027

b

208,530

89,000

3.526%, 

3/24/2028

b

81,735

196,000

3.584%, 

5/22/2028

b

179,437

127,000

4.808%, 

7/25/2028

b

121,192

180,000

7.625%, 

9/15/2028

b,k

181,470

196,000

4.478%, 

4/4/2031

b

177,820

62,000

5.389%, 

4/24/2034

b

57,964

88,000

5.557%, 

7/25/2034

b

83,326

Welltower

OP,

LLC

97,000

2.050%, 

1/15/2029

80,177

112,000

2.800%, 

6/1/2031

89,627

Welltower

OP,

LLC,

Convertible

509,000

2.750%, 

5/15/2028

f

519,453

Westpac

Banking

Corporation

147,000

4.110%, 

7/24/2034

b

126,950

Willis

North

America,

Inc.

196,000

4.500%, 

9/15/2028

183,804

XHR,

LP

97,000

6.375%, 

8/15/2025

f,h

95,234

109,000

4.875%, 

6/1/2029

f

92,650

Total

50,424,029

Foreign

Government

(<0.1%)

NBN

Company,

Ltd.

171,000

2.625%, 

5/5/2031

f

137,818

Total

137,818

Mortgage-Backed

Securities

(21.4%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

5,849,187

2.500%, 

5/1/2051

4,667,952

4,036,697

3.500%, 

5/1/2052

3,476,130

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Mortgage-Backed

Securities

(21.4%)

-

continued

$

2,661,323

4.000%, 

5/1/2052

$

2,388,492

8,957,455

3.500%, 

6/1/2052

7,719,176

5,049,636

5.000%, 

7/1/2053

4,779,994

6,407,172

5.500%, 

7/1/2053

6,216,602

1,200,000

5.500%, 

9/1/2053

1,164,302

Federal

Home

Loan

Mortgage

Corporation

Gold

15-Yr.

Pass

Through

3,242,623

2.500%, 

7/1/2030

2,955,683

Federal

National

Mortgage

Association

Conventional

20-Yr.

Pass

Through

3,214,126

3.500%, 

5/1/2040

2,855,349

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

6,468,052

3.000%, 

1/1/2052

5,384,642

817,298

2.000%, 

2/1/2051

625,982

499,983

2.000%, 

2/1/2051

382,352

3,653,053

2.500%, 

2/1/2051

2,921,389

3,083,082

2.500%, 

2/1/2051

2,470,540

7,087,287

2.000%, 

3/1/2051

5,416,587

6,851,032

3.000%, 

3/1/2052

5,681,624

234,365

5.000%, 

3/1/2053

221,228

5,510,432

2.000%, 

4/1/2051

4,210,866

3,944,308

3.000%, 

4/1/2051

3,274,646

4,099,139

3.000%, 

5/1/2050

3,429,803

968,876

2.000%, 

5/1/2051

738,919

2,412,977

3.000%, 

5/1/2051

2,028,584

2,550,197

3.000%, 

6/1/2050

2,154,146

3,063,047

5.000%, 

6/1/2053

2,904,227

5,545,937

2.500%, 

7/1/2051

4,427,145

2,772,147

3.500%, 

7/1/2051

2,424,006

1,181,119

2.500%, 

8/1/2050

953,499

5,095,460

3.500%, 

8/1/2050

4,460,241

3,626,640

3.500%, 

9/1/2052

3,135,728

2,971,771

4.500%, 

9/1/2053

2,731,735

4,436,769

4.000%, 

10/1/2052

3,962,965

944,981

2.000%, 

11/1/2051

721,561

3,885,895

2.000%, 

12/1/2050

2,976,378

12,984,774

4.500%, 

12/1/2052

11,974,918

8,100,000

4.000%, 

10/1/2048

e

7,210,898

3,300,000

4.500%, 

10/1/2048

e

3,029,813

2,800,000

5.000%, 

10/1/2048

e

2,641,625

Federal

National

Mortgage

Association

Conventional

40-Yr.

Pass

Through

6,088,928

2.500%, 

3/1/2062

4,672,987

2,412,850

3.500%, 

7/1/2061

2,052,156

2,285,940

4.000%, 

12/1/2061

2,035,873

Total

137,480,743

Technology

(2.3%)

Advanced

Micro

Devices,

Inc.

90,000

3.924%, 

6/1/2032

80,888

Akamai

Technologies,

Inc.,

Convertible

105,000

0.125%, 

5/1/2025

123,837

452,000

0.375%, 

9/1/2027

470,758

225,000

1.125%, 

2/15/2029

f

226,912

Analog

Devices,

Inc.

48,000

2.100%, 

10/1/2031

37,904

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

74

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Technology

(2.3%)

-

continued

Apple,

Inc.

$

250,000

2.200%, 

9/11/2029

$

214,484

183,000

1.650%, 

2/8/2031

144,966

AthenaHealth

Group,

Inc.

277,000

6.500%, 

2/15/2030

f

231,712

Block,

Inc.,

Convertible

91,000

0.125%, 

3/1/2025

84,448

347,000

0.250%, 

11/1/2027

260,465

Broadcom

Corporation/Broadcom

Cayman

Finance,

Ltd.

147,000

3.875%, 

1/15/2027

138,122

Broadcom,

Inc.

89,000

4.000%, 

4/15/2029

f

80,313

Cloud

Software

Group,

Inc.

217,000

6.500%, 

3/31/2029

f

191,900

77,000

9.000%, 

9/30/2029

f

66,913

CommScope

Technologies,

LLC

94,000

6.000%, 

6/15/2025

f

89,484

CommScope,

Inc.

210,000

7.125%, 

7/1/2028

f

125,645

CSG

Systems

International,

Inc.,

Convertible

118,000

3.875%, 

9/15/2028

f

114,826

Dell

International,

LLC/EMC

Corporation

128,000

5.250%, 

2/1/2028

126,046

62,000

5.300%, 

10/1/2029

60,188

Euronet

Worldwide,

Inc.,

Convertible

155,000

0.750%, 

3/15/2049

142,406

Fiserv,

Inc.

156,000

2.750%, 

7/1/2024

152,244

196,000

4.200%, 

10/1/2028

183,785

43,000

5.600%, 

3/2/2033

41,675

Gartner,

Inc.

185,000

3.625%, 

6/15/2029

f

158,262

315,000

3.750%, 

10/1/2030

f

264,349

Global

Payments,

Inc.

52,000

2.650%, 

2/15/2025

49,543

137,000

4.950%, 

8/15/2027

131,664

98,000

3.200%, 

8/15/2029

83,341

II-VI,

Inc.

83,000

5.000%, 

12/15/2029

f,h

71,964

Intel

Corporation

174,000

5.125%, 

2/10/2030

170,743

InterDigital,

Inc.,

Convertible

436,000

3.500%, 

6/1/2027

513,128

Iron

Mountain,

Inc.

655,000

4.875%, 

9/15/2027

f

604,142

220,000

4.500%, 

2/15/2031

f

180,942

Jabil,

Inc.

88,000

5.450%, 

2/1/2029

85,576

Lumentum

Holdings,

Inc.,

Convertible

314,000

0.250%, 

3/15/2024

310,860

551,000

0.500%, 

6/15/2028

h

400,191

Marvell

Technology,

Inc.

98,000

2.950%, 

4/15/2031

79,284

Mastercard,

Inc.

90,000

2.000%, 

11/18/2031

70,599

Microchip

Technology,

Inc.,

Convertible

530,000

0.125%, 

11/15/2024

h

556,500

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Technology

(2.3%)

-

continued

Moody's

Corporation

$

94,000

4.250%, 

8/8/2032

$

85,298

NCR

Corporation

293,000

5.125%, 

4/15/2029

f

258,150

290,000

6.125%, 

9/1/2029

f

297,403

NVIDIA

Corporation

49,000

2.850%, 

4/1/2030

42,750

NXP

BV/NXP

Funding,

LLC

92,000

4.875%, 

3/1/2024

91,540

NXP

BV/NXP

Funding,

LLC/NXP

USA,

Inc.

56,000

2.700%, 

5/1/2025

53,184

98,000

4.300%, 

6/18/2029

89,778

ON

Semiconductor

Corporation,

Convertible

474,000

Zero

Coupon, 

5/1/2027

853,200

13,000

0.500%, 

3/1/2029

f

14,274

Open

Text

Corporation

199,000

3.875%, 

12/1/2029

f

163,582

320,000

4.125%, 

2/15/2030

f

267,713

Oracle

Corporation

93,000

6.150%, 

11/9/2029

94,409

245,000

2.950%, 

4/1/2030

206,164

133,000

6.250%, 

11/9/2032

134,643

PayPal

Holdings,

Inc.

97,000

2.850%, 

10/1/2029

84,088

113,000

2.300%, 

6/1/2030

92,348

Progress

Software

Corporation,

Convertible

153,000

1.000%, 

4/15/2026

157,437

PTC,

Inc.

160,000

3.625%, 

2/15/2025

f

153,765

145,000

4.000%, 

2/15/2028

f

129,956

Rackspace

Technology

Global,

Inc.

275,000

5.375%, 

12/1/2028

f

92,220

RingCentral,

Inc.

167,000

8.500%, 

8/15/2030

f

161,322

S&P

Global,

Inc.

90,000

2.900%, 

3/1/2032

74,072

Salesforce.com,

Inc.

249,000

1.950%, 

7/15/2031

197,196

Seagate

HDD

Cayman

104,000

8.500%, 

7/15/2031

f

106,682

299,500

9.625%, 

12/1/2032

f

322,724

Semtech

Corporation,

Convertible

169,000

1.625%, 

11/1/2027

f

157,930

Sensata

Technologies

BV

225,000

4.000%, 

4/15/2029

f

193,747

Sensata

Technologies,

Inc.

223,000

3.750%, 

2/15/2031

f

180,479

Shift4

Payments,

LLC/Shift4

Payments

Finance

Sub,

Inc.

100,000

4.625%, 

11/1/2026

f

94,286

SS&C

Technologies,

Inc.

620,000

5.500%, 

9/30/2027

f

585,057

Verint

Systems,

Inc.,

Convertible

238,000

0.250%, 

4/15/2026

203,192

Viavi

Solutions,

Inc.

224,000

3.750%, 

10/1/2029

f

182,090

Viavi

Solutions,

Inc.,

Convertible

179,000

1.625%, 

3/15/2026

f

170,855

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

75

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Technology

(2.3%)

-

continued

Vishay

Intertechnology,

Inc.,

Convertible

$

786,000

2.250%, 

9/15/2030

f

$

769,887

VMware,

Inc.

194,000

1.400%, 

8/15/2026

171,129

123,000

2.200%, 

8/15/2031

92,820

Xilinx,

Inc.

52,000

2.375%, 

6/1/2030

43,051

Ziff

Davis,

Inc.,

Convertible

404,000

1.750%, 

11/1/2026

371,478

Total

14,560,908

Transportation

(0.8%)

Air

Transport

Services

Group,

Inc.,

Convertible

282,000

3.875%, 

8/15/2029

f

276,783

Allegiant

Travel

Company

176,000

7.250%, 

8/15/2027

f

165,660

American

Airlines

Group,

Inc.

67,000

3.750%, 

3/1/2025

f

63,471

American

Airlines,

Inc.

139,000

7.250%, 

2/15/2028

f

132,899

American

Airlines,

Inc./

AAdvantage

Loyalty

IP,

Ltd.

599,500

5.500%, 

4/20/2026

f

585,509

Avis

Budget

Car

Rental,

LLC/Avis

Budget

Finance,

Inc.

101,000

5.375%, 

3/1/2029

f

89,766

Canadian

Pacific

Railway

Company

185,000

1.750%, 

12/2/2026

165,053

CSX

Corporation

98,000

4.250%, 

3/15/2029

92,823

Delta

Air

Lines,

Inc.

181,000

4.375%, 

4/19/2028

166,363

Delta

Air

Lines,

Inc./SkyMiles

IP,

Ltd.

167,024

4.500%, 

10/20/2025

f

162,231

ERAC

USA

Finance,

LLC

123,000

3.850%, 

11/15/2024

f

120,127

Hawaiian

Brand

Intellectual

Property,

Ltd.

242,000

5.750%, 

1/20/2026

f

217,765

Hertz

Corporation

184,000

4.625%, 

12/1/2026

f

163,070

221,000

5.000%, 

12/1/2029

f

173,026

JetBlue

Airways

Corporation,

Convertible

330,000

0.500%, 

4/1/2026

255,123

Mileage

Plus

Holdings,

LLC

186,001

6.500%, 

6/20/2027

f

184,290

Norfolk

Southern

Corporation

136,000

4.450%, 

3/1/2033

124,191

Penske

Truck

Leasing

Company,

LP/PTL

Finance

Corporation

111,000

1.200%, 

11/15/2025

f

99,848

51,000

5.750%, 

5/24/2026

f

50,250

96,000

1.700%, 

6/15/2026

f

85,106

Rand

Parent,

LLC

202,000

8.500%, 

2/15/2030

f,h

186,870

Ryder

System,

Inc.

81,000

2.850%, 

3/1/2027

73,705

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Transportation

(0.8%)

-

continued

Southwest

Airlines

Company

$

100,000

5.125%, 

6/15/2027

$

97,505

98,000

2.625%, 

2/10/2030

80,741

Southwest

Airlines

Company,

Convertible

574,000

1.250%, 

5/1/2025

h

569,695

Union

Pacific

Corporation

98,000

2.150%, 

2/5/2027

88,463

United

Airlines,

Inc.

219,000

4.375%, 

4/15/2026

f

202,529

183,000

4.625%, 

4/15/2029

f

157,294

VistaJet

Malta

Finance

plc/Vista

Management

Holding,

Inc.

52,000

7.875%, 

5/1/2027

f,h

44,785

243,000

6.375%, 

2/1/2030

f

187,682

XPO

Escrow

Sub,

LLC

233,000

7.500%, 

11/15/2027

f

235,572

Total

5,298,195

U.S.

Government

&

Agencies

(4.8%)

U.S.

Treasury

Bonds

3,400,000

3.625%, 

2/15/2053

2,811,906

19,600,000

3.625%, 

5/15/2053

16,228,187

2,200,000

4.000%, 

11/15/2052

1,949,922

U.S.

Treasury

Notes

9,200,000

4.125%, 

7/31/2028

9,001,625

883,000

3.375%, 

5/15/2033

800,771

Total

30,792,411

Utilities

(1.8%)

AEP

Texas,

Inc.

92,000

4.700%, 

5/15/2032

84,186

AES

Corporation

156,000

3.950%, 

7/15/2030

f

134,460

Algonquin

Power

&

Utilities

Corporation

110,000

4.750%, 

1/18/2082

b

89,650

Alliant

Energy

Corporation,

Convertible

225,000

3.875%, 

3/15/2026

f

217,350

Ameren

Corporation

98,000

1.750%, 

3/15/2028

83,060

American

Electric

Power

Company,

Inc.

139,000

2.031%, 

3/15/2024

136,403

98,000

2.300%, 

3/1/2030

78,746

44,000

5.625%, 

3/1/2033

42,577

American

Water

Capital

Corporation,

Convertible

292,000

3.625%, 

6/15/2026

f

281,430

Arizona

Public

Service

Company

87,000

5.550%, 

8/1/2033

84,335

Calpine

Corporation

191,000

4.500%, 

2/15/2028

f

172,134

CenterPoint

Energy,

Inc.

105,000

2.500%, 

9/1/2024

101,658

95,000

1.450%, 

6/1/2026

85,087

146,000

2.650%, 

6/1/2031

116,610

CenterPoint

Energy,

Inc.,

Convertible

122,000

4.250%, 

8/15/2026

f

119,011

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

76

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Utilities

(1.8%)

-

continued

CMS

Energy

Corporation,

Convertible

$

297,000

3.375%, 

5/1/2028

f

$

278,437

Constellation

Energy

Generation,

LLC

90,000

5.800%, 

3/1/2033

87,753

Dominion

Energy,

Inc.

110,000

3.071%, 

8/15/2024

107,085

165,000

4.350%, 

1/15/2027

b,k

142,463

98,000

3.375%, 

4/1/2030

84,304

DTE

Energy

Company

138,000

4.220%, 

11/1/2024

135,427

80,000

4.875%, 

6/1/2028

77,315

Duke

Energy

Corporation

180,000

3.250%, 

1/15/2082

b

132,615

110,000

4.875%, 

9/16/2024

b,k

107,062

187,000

2.450%, 

6/1/2030

151,840

93,000

4.500%, 

8/15/2032

83,659

95,000

5.750%, 

9/15/2033

93,330

Duke

Energy

Corporation,

Convertible

705,000

4.125%, 

4/15/2026

f

684,202

Edison

International

118,000

4.950%, 

4/15/2025

115,642

180,000

5.000%, 

12/15/2026

b,k

153,842

Enel

Finance

International

NV

200,000

1.375%, 

7/12/2026

f

176,619

Entergy

Corporation

111,000

0.900%, 

9/15/2025

100,780

97,000

1.900%, 

6/15/2028

81,920

Evergy,

Inc.

106,000

2.450%, 

9/15/2024

102,399

Eversource

Energy

154,000

4.600%, 

7/1/2027

148,117

87,000

5.125%, 

5/15/2033

80,920

Exelon

Corporation

98,000

4.050%, 

4/15/2030

88,201

Fells

Point

Funding

Trust

165,000

3.046%, 

1/31/2027

f

149,619

FirstEnergy

Corporation,

Convertible

425,000

4.000%, 

5/1/2026

f

409,062

Florida

Power

&

Light

Company

85,000

4.400%, 

5/15/2028

81,961

Georgia

Power

Company

54,000

4.950%, 

5/17/2033

50,616

ITC

Holdings

Corporation

93,000

4.950%, 

9/22/2027

f

90,610

Jersey

Central

Power

&

Light

Company

185,000

2.750%, 

3/1/2032

f

144,882

National

Rural

Utilities

Cooperative

Finance

Corporation

116,000

3.450%, 

6/15/2025

111,613

79,000

5.050%, 

9/15/2028

77,609

NextEra

Energy

Capital

Holdings,

Inc.

100,000

3.800%, 

3/15/2082

b

84,650

87,000

6.051%, 

3/1/2025

87,132

129,000

5.749%, 

9/1/2025

128,638

98,000

2.250%, 

6/1/2030

78,456

NextEra

Energy

Operating

Partners,

LP

420,000

3.875%, 

10/15/2026

f

380,275

Principal

Amount

Long-Term

Fixed

Income

(65.2%)

Value

Utilities

(1.8%)

-

continued

NextEra

Energy

Partners,

LP,

Convertible

$

72,000

Zero

Coupon, 

6/15/2024

f

$

68,292

438,000

Zero

Coupon, 

11/15/2025

f

365,730

NiSource,

Inc.

98,000

2.950%, 

9/1/2029

84,464

NRG

Energy,

Inc.

111,000

2.000%, 

12/2/2025

f

100,448

128,000

10.250%, 

3/15/2028

b,f,k

125,364

73,000

3.375%, 

2/15/2029

f

59,085

135,000

5.250%, 

6/15/2029

f

119,172

NRG

Energy,

Inc.,

Convertible

510,000

2.750%, 

6/1/2048

539,580

PG&E

Corporation

268,000

5.000%, 

7/1/2028

h

242,749

PPL

Capital

Funding,

Inc.,

Convertible

359,000

2.875%, 

3/15/2028

f

326,690

Public

Service

Enterprise

Group,

Inc.

98,000

1.600%, 

8/15/2030

75,184

Sempra

240,000

4.875%, 

10/15/2025

b,k

227,397

120,000

3.400%, 

2/1/2028

109,221

Southern

California

Edison

Company

46,000

5.950%, 

11/1/2032

45,877

Southern

Company

92,000

4.475%, 

8/1/2024

90,665

112,000

5.700%, 

10/15/2032

110,010

111,000

4.000%, 

1/15/2051

b

102,673

317,000

3.750%, 

9/15/2051

b

276,487

Southern

Company,

Convertible

701,000

3.875%, 

12/15/2025

f

681,372

TerraForm

Power

Operating,

LLC

315,000

5.000%, 

1/31/2028

f

285,862

Vistra

Operations

Company,

LLC

184,000

5.125%, 

5/13/2025

f

179,294

282,000

5.000%, 

7/31/2027

f

259,268

Xcel

Energy,

Inc.

98,000

4.000%, 

6/15/2028

91,683

138,000

4.600%, 

6/1/2032

125,228

Total

11,607,547

Total

Long-Term

Fixed

Income

(cost

$456,600,160)

419,020,581

Shares

Common

Stock

(

14.6%

)

Value

Communications

Services

(1.1%)

4,312

Alphabet,

Inc.,

Class

A

m

564,268

16,715

Alphabet,

Inc.,

Class

C

m

2,203,873

16,680

Comcast

Corporation

739,591

20,651

DISH

Network

Corporation

m

121,015

547

Emerald

Holding,

Inc.

m

2,472

307

Liberty

Latin

America,

Ltd.,

Class

A

m

2,505

4,531

Meta

Platforms,

Inc.

m

1,360,252

548

Netflix,

Inc.

m

206,925

16,795

QuinStreet,

Inc.

m

150,651

24,568

Verizon

Communications,

Inc.

796,249

3,217

Walt

Disney

Company

m

260,738

13,778

Warner

Brothers

Discovery,

Inc.

m

149,629

4,674

Windstream

Services,

LLC

m

44,403

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

77

Shares

Common

Stock

(14.6%)

Value

Communications

Services

(1.1%)

-

continued

3,541

Ziff

Davis,

Inc.

m

$

225,526

Total

6,828,097

Consumer

Discretionary

(1.6%)

14,420

Amazon.com,

Inc.

m

1,833,070

5,289

Aptiv

plc

m

521,443

273

Booking

Holdings,

Inc.

m

841,918

1,179

Boot

Barn

Holdings,

Inc.

m

95,723

4,493

Cedar

Fair,

LP

166,241

192

Chipotle

Mexican

Grill,

Inc.

m

351,711

8,414

Clarus

Corporation

63,610

2,616

Columbia

Sportswear

Company

193,846

11,239

Cooper-Standard

Holdings,

Inc.

m

150,827

2,882

Crocs,

Inc.

m

254,279

1,873

D.R.

Horton,

Inc.

201,291

1,004

Domino's

Pizza,

Inc.

380,305

10,108

Everi

Holdings,

Inc.

m

133,628

435

Ford

Motor

Company

5,403

5,026

General

Motors

Company

165,707

999

Grand

Canyon

Education,

Inc.

m

116,763

1,367

Hilton

Worldwide

Holdings,

Inc.

205,296

2,588

Home

Depot,

Inc.

781,990

2,033

Lowe's

Companies,

Inc.

422,539

545

Lululemon

Athletica,

Inc.

m

210,157

150

Marriott

International,

Inc./MD

29,484

1,016

McDonald's

Corporation

267,655

648

Meritage

Homes

Corporation

79,309

82

NVR,

Inc.

m

488,991

253

O'Reilly

Automotive,

Inc.

m

229,942

2,012

Papa

John's

International,

Inc.

137,259

4,420

Skyline

Champion

Corporation

m

281,642

6,203

Sonos,

Inc.

m

80,081

2,971

Sony

Group

Corporation

ADR

244,840

9,227

Stoneridge,

Inc.

m

185,186

3,436

Tesla,

Inc.

m

859,756

25,027

ThredUp,

Inc.

m

100,358

Total

10,080,250

Consumer

Staples

(0.8%)

4,332

Altria

Group,

Inc.

182,161

738

Archer-Daniels-Midland

Company

55,660

4,713

BJ's

Wholesale

Club

Holdings,

Inc.

m

336,367

1,043

Casey's

General

Stores,

Inc.

283,195

9,115

Coca-Cola

Company

510,258

3,024

Colgate-Palmolive

Company

215,037

19,160

Coty,

Inc.

m

210,185

2,045

John

B.

Sanfilippo

&

Son,

Inc.

202,046

7,371

Kenvue,

Inc.

148,010

2,768

Kimberly-Clark

Corporation

334,513

2,497

Lamb

Weston

Holdings,

Inc.

230,873

3,234

Mondelez

International,

Inc.

224,440

83

PepsiCo,

Inc.

14,063

4,840

Philip

Morris

International,

Inc.

448,087

6,697

Pilgrim's

Pride

Corporation

m

152,892

14,401

Primo

Water

Corporation

198,734

1,487

Procter

&

Gamble

Company

216,894

3,701

Sysco

Corporation

244,451

5,492

Turning

Point

Brands,

Inc.

126,810

3,309

Tyson

Foods,

Inc.

167,071

3,245

US

Foods

Holding

Corporation

m

128,826

4,543

Walmart,

Inc.

726,562

Total

5,357,135

Shares

Common

Stock

(14.6%)

Value

Energy

(0.8%)

5,853

BP

plc

ADR

$

226,628

496

Cheniere

Energy,

Inc.

82,316

3,263

Chesapeake

Energy

Corporation

281,369

1,723

Chevron

Corporation

290,532

3,865

ConocoPhillips

463,027

8,224

Devon

Energy

Corporation

392,285

11,523

Enterprise

Products

Partners,

LP

315,385

562

EQT

Corporation

22,806

6,328

Exxon

Mobil

Corporation

744,046

8,082

Halliburton

Company

327,321

3,511

Marathon

Petroleum

Corporation

531,355

20,982

NOV,

Inc.

438,524

7,631

Permian

Resources

Corporation

106,529

2,979

Pioneer

Natural

Resources

Company

683,829

5,547

TechnipFMC

plc

112,826

406

Viper

Energy

Partners,

LP

11,319

Total

5,030,097

Financials

(2.2%)

1,087

Allstate

Corporation

121,103

17,663

Ally

Financial,

Inc.

471,249

2,760

American

Express

Company

411,764

4,264

American

International

Group,

Inc.

258,398

1,202

Ameriprise

Financial,

Inc.

396,275

5,922

Arch

Capital

Group,

Ltd.

m

472,043

17,073

Bank

of

America

Corporation

467,459

94

Bank

of

Marin

Bancorp

1,718

4,703

Bank

of

N.T.

Butterfield

&

Son,

Ltd.

127,357

6,287

Bank

of

New

York

Mellon

Corporation

268,141

1,338

Berkshire

Hathaway,

Inc.

m

468,701

725

BlackRock

TCP

Capital

Corporation

8,511

226

BlackRock,

Inc.

146,107

1,408

Blackstone

Mortgage

Trust,

Inc.

30,624

11,003

Bridgewater

Bancshares,

Inc.

m

104,308

2,986

Byline

Bancorp,

Inc.

58,854

1,641

Capital

One

Financial

Corporation

159,259

1,393

Central

Pacific

Financial

Corporation

23,235

4,578

Charles

Schwab

Corporation

251,332

2,464

Chubb,

Ltd.

512,956

1,046

Cincinnati

Financial

Corporation

106,995

1,882

Citigroup,

Inc.

77,407

1,140

Citizens

Financial

Group,

Inc.

30,552

4,005

Comerica,

Inc.

166,408

574

Community

Trust

Bancorp,

Inc.

19,665

394

Dime

Community

Bancshares,

Inc.

7,864

1,494

Discover

Financial

Services

129,425

258

Eagle

Bancorp,

Inc.

5,534

1,020

Ellington

Residential

Mortgage

REIT

6,334

1,469

Encore

Capital

Group,

Inc.

m

70,159

430

FactSet

Research

Systems,

Inc.

188,022

3,871

Federated

Hermes,

Inc.

131,111

166

Financial

Institutions,

Inc.

2,794

1,643

First

Horizon

Corporation

18,106

130

First

Mid-Illinois

Bancshares,

Inc.

3,453

895

Fiserv,

Inc.

m

101,099

311

FS

KKR

Capital

Corporation

6,124

2,684

Glacier

Bancorp,

Inc.

76,494

647

Golub

Capital

BDC,

Inc.

9,491

450

Great

Southern

Bancorp,

Inc.

21,564

1,404

Hanmi

Financial

Corporation

22,787

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

78

Shares

Common

Stock

(14.6%)

Value

Financials

(2.2%)

-

continued

6,603

Heartland

Financial

USA,

Inc.

$

194,326

393

Heritage

Financial

Corporation

6,410

475

Hometrust

Bancshares,

Inc.

10,293

2,923

Hope

Bancorp,

Inc.

25,869

2,499

Houlihan

Lokey,

Inc.

267,693

251

Independent

Bank

Corporation/MI

4,603

6,060

Intercontinental

Exchange,

Inc.

666,721

6,490

J.P.

Morgan

Chase

&

Company

941,180

597

Janus

Henderson

Group

plc

15,415

1,905

Kinsale

Capital

Group,

Inc.

788,918

392

Loews

Corporation

24,818

1,673

M&T

Bank

Corporation

211,551

220

Marsh

&

McLennan

Companies,

Inc.

41,866

2,285

Mastercard,

Inc.

904,654

3,552

MetLife,

Inc.

223,456

295

Metropolitan

Bank

Holding

Corporation

m

10,703

2,728

MGIC

Investment

Corporation

45,530

966

MidWestOne

Financial

Group,

Inc.

19,639

1,988

Morgan

Stanley

162,360

3,463

Nasdaq,

Inc.

168,267

4,616

New

York

Community

Bancorp,

Inc.

52,345

3,498

NU

Holdings,

Ltd./Cayman

Islands

m

25,360

7,660

PayPal

Holdings,

Inc.

m

447,804

68

PNC

Financial

Services

Group,

Inc.

8,348

6,469

Radian

Group,

Inc.

162,437

3,882

Raymond

James

Financial,

Inc.

389,869

2,417

RLI

Corporation

328,446

174

SEI

Investments

Company

10,480

3,399

Triumph

Financial,

Inc.

m

220,221

200

TrustCo

Bank

Corporation

NY

5,458

294

U.S.

Bancorp

9,720

169

Veritex

Holdings,

Inc.

3,034

254

Visa,

Inc.

58,423

4,535

Voya

Financial,

Inc.

301,351

14,580

Wells

Fargo

&

Company

595,739

9,996

Western

Alliance

Bancorp

459,516

6,409

Zions

Bancorp

NA

223,610

Total

13,997,215

Health

Care

(1.7%)

3,858

Abbott

Laboratories

373,647

1,370

Agilent

Technologies,

Inc.

153,193

155

Agiliti,

Inc.

m

1,006

1,224

Align

Technology,

Inc.

m

373,712

822

Amgen,

Inc.

220,921

1,947

AstraZeneca

plc

ADR

131,851

9,229

Avantor,

Inc.

m

194,547

5,141

Baxter

International,

Inc.

194,021

799

Biogen,

Inc.

m

205,351

2,283

Bio-Techne

Corporation

155,404

4,489

Centene

Corporation

m

309,202

1,134

Cigna

Group

324,403

3,408

CVS

Health

Corporation

237,947

1,847

Danaher

Corporation

458,241

385

Dentsply

Sirona,

Inc.

13,152

3,278

Edwards

Lifesciences

Corporation

m

227,100

2,017

Elanco

Animal

Health,

Inc.

m

22,671

767

Elevance

Health,

Inc.

333,967

181

Eli

Lilly

&

Company

97,221

Shares

Common

Stock

(14.6%)

Value

Health

Care

(1.7%)

-

continued

5,194

Enovis

Corporation

m

$

273,880

4,160

Gilead

Sciences,

Inc.

311,750

5,750

Halozyme

Therapeutics,

Inc.

m

219,650

835

HCA

Healthcare,

Inc.

205,393

1,025

Hologic,

Inc.

m

71,135

818

Intuitive

Surgical,

Inc.

m

239,093

2,312

Johnson

&

Johnson

360,094

1,889

Laboratory

Corporation

of

America

Holdings

379,783

1,543

Lantheus

Holdings,

Inc.

m

107,208

27,687

Maravai

LifeSciences

Holdings,

Inc.

m

276,870

7,040

Medtronic

plc

551,654

7,218

Merck

&

Company,

Inc.

743,093

622

Molina

Healthcare,

Inc.

m

203,948

2,276

Novo

Nordisk

AS

ADR

m

206,979

8,910

Pfizer,

Inc.

295,545

4,103

Progyny,

Inc.

m

139,584

1,610

QuidelOrtho

Corporation

m

117,594

4,600

R1

RCM,

Inc.

m

69,322

1,250

Sarepta

Therapeutics,

Inc.

m

151,525

733

Thermo

Fisher

Scientific,

Inc.

371,023

1,401

UnitedHealth

Group,

Inc.

706,370

250

Vertex

Pharmaceuticals,

Inc.

m

86,935

13,756

Viemed

Healthcare,

Inc.

m

92,578

686

Waters

Corporation

m

188,108

1,989

Zimmer

Biomet

Holdings,

Inc.

223,206

3,199

Zoetis,

Inc.

556,562

Total

11,176,439

Industrials

(2.0%)

3,222

Advanced

Drainage

Systems,

Inc.

366,760

7,706

Air

Lease

Corporation

303,693

1,523

AMETEK,

Inc.

225,038

312

Armstrong

World

Industries,

Inc.

22,464

3,397

ASGN,

Inc.

m

277,467

1,262

Automatic

Data

Processing,

Inc.

303,612

871

Axon

Enterprise,

Inc.

m

173,320

11,896

Badger

Infrastructure

Solutions,

Ltd.

303,826

5,586

Barnes

Group,

Inc.

189,756

263

Boise

Cascade

Company

27,100

563

Carlisle

Companies,

Inc.

145,963

119

Caterpillar,

Inc.

32,487

3,090

Cimpress

plc

m

216,331

178

Cintas

Corporation

85,620

15,496

CNH

Industrial

NV

187,502

14,189

CSX

Corporation

436,312

841

Cummins,

Inc.

192,135

699

Curtiss-Wright

Corporation

136,745

445

Deere

&

Company

167,934

6,162

Delta

Air

Lines,

Inc.

227,994

5,747

ExlService

Holdings,

Inc.

m

161,146

8,290

Fastenal

Company

452,966

1,405

Ferguson

plc

231,080

4,320

Flowserve

Corporation

171,806

5,678

Fluor

Corporation

m

208,383

1,346

General

Dynamics

Corporation

297,426

119

Gibraltar

Industries,

Inc.

m

8,034

73

Gorman-Rupp

Company

2,402

4,260

Greenbrier

Companies,

Inc.

170,400

4,532

Helios

Technologies,

Inc.

251,435

974

Honeywell

International,

Inc.

179,937

9,806

Howmet

Aerospace,

Inc.

453,527

156

Hubbell,

Inc.

48,892

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

79

Shares

Common

Stock

(14.6%)

Value

Industrials

(2.0%)

-

continued

16,414

Janus

International

Group,

Inc.

m

$

175,630

746

JB

Hunt

Transport

Services,

Inc.

140,636

2,403

Johnson

Controls

International

plc

127,864

1,278

L3Harris

Technologies,

Inc.

222,525

1,011

Lincoln

Electric

Holdings,

Inc.

183,790

3,273

ManpowerGroup,

Inc.

239,976

710

Masco

Corporation

37,950

13,282

Masterbrand,

Inc.

m

161,376

3,124

Maximus,

Inc.

233,300

4,349

Miller

Industries,

Inc.

170,524

1,239

Moog,

Inc.

139,957

480

Northrop

Grumman

Corporation

211,291

1,137

Old

Dominion

Freight

Line,

Inc.

465,192

1,625

Oshkosh

Corporation

155,074

1,348

Owens

Corning,

Inc.

183,881

959

Parker-Hannifin

Corporation

373,550

2,212

Pentair

plc

143,227

1,398

Quanta

Services,

Inc.

261,524

3,309

RB

Global,

Inc.

206,813

8,474

Schneider

National,

Inc.

234,645

520

Simpson

Manufacturing

Company,

Inc.

77,901

2,677

Tennant

Company

198,500

5,011

Timken

Company

368,258

8,716

Uber

Technologies,

Inc.

m

400,849

2,100

United

Parcel

Service,

Inc.

327,327

1,631

United

Rentals,

Inc.

725,094

Total

12,826,147

Information

Technology

(3.0%)

1,208

Adobe,

Inc.

m

615,959

3,040

Advanced

Micro

Devices,

Inc.

m

312,573

1,593

Amphenol

Corporation

133,796

732

ANSYS,

Inc.

m

217,807

13,722

Apple,

Inc.

2,349,344

2,524

Applied

Materials,

Inc.

349,448

854

Autodesk,

Inc.

m

176,701

48

Broadcom,

Inc.

39,868

1,634

Calix,

Inc.

m

74,903

7,133

Ciena

Corporation

m

337,106

25,615

Cisco

Systems,

Inc.

1,377,062

5,127

Cohu,

Inc.

m

176,574

1,330

Crane

NXT

Company

73,908

16,278

Dropbox,

Inc.

m

443,250

1,329

Enphase

Energy,

Inc.

m

159,679

1,158

FormFactor,

Inc.

m

40,460

2,155

Fortinet,

Inc.

m

126,455

11,327

Gilat

Satellite

Networks,

Ltd.

m

72,833

2,397

Guidewire

Software,

Inc.

m

215,730

604

Insight

Enterprises,

Inc.

m

87,882

337

KLA

Corporation

154,568

12,149

Knowles

Corporation

m

179,927

123

Lam

Research

Corporation

77,093

701

Littelfuse,

Inc.

173,371

1,138

Microchip

Technology,

Inc.

88,821

11,674

Microsoft

Corporation

3,686,065

459

NetApp,

Inc.

34,829

1,248

NICE,

Ltd.

ADR

m

212,160

3,944

NVIDIA

Corporation

1,715,601

3,140

ON

Semiconductor

Corporation

m

291,863

2,684

Plexus

Corporation

m

249,558

7,734

QUALCOMM,

Inc.

858,938

185

Roper

Industries,

Inc.

89,592

3,037

Salesforce,

Inc.

m

615,843

Shares

Common

Stock

(14.6%)

Value

Information

Technology

(3.0%)

-

continued

8,052

Samsung

Electronics

Company,

Ltd.

$

407,062

781

ServiceNow,

Inc.

m

436,548

1,110

Silicon

Laboratories,

Inc.

m

128,638

2,885

Sprout

Social,

Inc.

m

143,904

1,788

TE

Connectivity,

Ltd.

220,872

2,972

Texas

Instruments,

Inc.

472,578

3,632

Trimble,

Inc.

m

195,619

30,655

TTM

Technologies,

Inc.

m

394,836

476

Tyler

Technologies,

Inc.

m

183,803

510

Universal

Display

Corporation

80,065

3,956

Varonis

Systems,

Inc.

m

120,816

911

VeriSign,

Inc.

m

184,505

977

Western

Digital

Corporation

m

44,580

3,822

Wolfspeed,

Inc.

m

145,618

1,377

Workiva,

Inc.

m

139,545

Total

19,108,556

Materials

(0.6%)

4,179

Alcoa

Corporation

121,442

1,626

Allegheny

Technologies,

Inc.

m

66,910

7,817

Axalta

Coating

Systems,

Ltd.

m

210,277

6,061

Ball

Corporation

301,717

1,305

Berry

Plastics

Group,

Inc.

80,793

2,582

Carpenter

Technology

Corporation

173,536

3,345

CF

Industries

Holdings,

Inc.

286,800

99

Eagle

Materials,

Inc.

16,485

2,247

Eastman

Chemical

Company

172,390

4,334

Ingevity

Corporation

m

206,342

14,946

Ivanhoe

Mines,

Ltd.

m

128,085

502

Linde

plc

186,920

2,780

Nucor

Corporation

434,653

3,091

PPG

Industries,

Inc.

401,212

3,879

Steel

Dynamics,

Inc.

415,906

14,869

Tronox

Holdings

plc

199,839

1,375

United

States

Lime

&

Minerals,

Inc.

276,375

Total

3,679,682

Real

Estate

(0.4%)

3,751

Agree

Realty

Corporation

207,205

2,211

Alexandria

Real

Estate

Equities,

Inc.

221,321

1,279

AvalonBay

Communities,

Inc.

219,656

1,300

Camden

Property

Trust

122,954

1,492

CBRE

Group,

Inc.

m

110,199

25,555

Cushman

and

Wakefield

plc

m

194,729

740

Equity

Residential

43,445

12,119

Healthcare

Realty

Trust,

Inc.

185,057

12,658

Host

Hotels

&

Resorts,

Inc.

203,414

12,681

Independence

Realty

Trust,

Inc.

178,422

1,072

Kite

Realty

Group

Trust

22,962

762

Mid-America

Apartment

Communities,

Inc.

98,031

8,422

National

Storage

Affiliates

Trust

267,314

936

Public

Storage

246,655

2,339

SBA

Communications

Corporation

468,198

2,652

UDR,

Inc.

94,597

Total

2,884,159

Utilities

(0.4%)

5,135

Alliant

Energy

Corporation

248,791

2,999

American

Electric

Power

Company,

Inc.

225,585

1,210

Black

Hills

Corporation

61,214

6,613

CenterPoint

Energy,

Inc.

177,559

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

80

Shares

Common

Stock

(14.6%)

Value

Utilities

(0.4%)

-

continued

3,269

Constellation

Energy

Corporation

$

356,582

2,832

Duke

Energy

Corporation

249,952

1,741

Entergy

Corporation

161,042

2,190

Evergy,

Inc.

111,033

23,200

NiSource,

Inc.

572,576

1,418

NorthWestern

Corporation

68,149

329

OGE

Energy

Corporation

10,966

2,937

Portland

General

Electric

Company

118,890

3,072

Public

Service

Enterprise

Group,

Inc.

174,828

1,950

Spire,

Inc.

110,331

Total

2,647,498

Total

Common

Stock

(cost

$74,130,414)

93,615,275

Shares

Registered

Investment

Companies

(

9.0%

)

Value

U.S.

Affiliated  (8.3%)

6,290,014

Thrivent

Core

Emerging

Markets

Debt

Fund

46,609,007

709,265

Thrivent

Core

International

Equity

Fund

6,688,373

Total

53,297,380

U.S.

Unaffiliated  (0.7%)

59,018

Aberdeen

Asia-Pacific

Income

Fund,

Inc.

144,594

22,475

AllianceBernstein

Global

High

Income

Fund,

Inc.

218,007

27,863

Allspring

Income

Opportunities

Fund

169,964

8,000

BlackRock

Core

Bond

Trust

79,520

23,412

BlackRock

Corporate

High

Yield

Fund,

Inc.

202,046

20,506

BlackRock

Credit

Allocation

Income

Trust

198,498

5,350

BlackRock

Debt

Strategies

Fund,

Inc.

54,944

18,974

BlackRock

Enhanced

Global

Dividend

Trust

178,925

5,200

BlackRock

Enhanced

International

Dividend

Trust

25,948

700

BlackRock

Floating

Rate

Income

Strategies

Fund,

Inc.

8,834

3,599

BlackRock

Income

Trust,

Inc.

40,957

11,278

BlackRock

Multi-Sector

Income

Trust

163,193

16,086

Blackstone

Strategic

Credit

2027

Term

Fund

176,785

22,216

Eaton

Vance

Limited

Duration

Income

Fund

200,833

1,639

Eaton

Vance

Tax-Managed

Global

Diversified

Equity

Income

Fund

12,079

16,734

First

Trust

High

Income

Long/Short

Fund

179,388

6,177

Invesco

Dynamic

Credit

Opportunities

Fund

c,m

65,020

1,251

iShares

Biotechnology

ETF

152,985

44,750

Nuveen

Credit

Strategies

Income

Fund

226,435

6,800

Nuveen

Preferred

Income

Opportunities

Fund

43,044

Shares

Registered

Investment

Companies

(9.0%)

Value

U.S.

Unaffiliated  (0.7%)-

continued

5,300

Nuveen

Quality

Preferred

Income

Fund

II

$

32,701

18,592

PGIM

Global

High

Yield

Fund,

Inc.

200,422

18,673

PGIM

High

Yield

Bond

Fund,

Inc.

219,968

4,634

Pimco

Dynamic

Income

Fund

80,076

4,063

SPDR

Bloomberg

High

Yield

Bond

ETF

h

367,295

1,979

SPDR

S&P

Biotech

ETF

144,507

2,061

Tri-Continental

Corporation

54,802

9,350

Vanguard

Short-Term

Corporate

Bond

ETF

702,653

5,900

Virtus

Convertible

&

Income

Fund

18,349

11,271

Virtus

Dividend,

Interest

&

Premium

Strategy

Fund

127,700

1,750

Virtus

Equity

&

Convertible

Income

Fund

34,807

28,369

Voya

Global

Equity

Dividend

&

Premium

Opportunity

Fund

139,008

42,861

Western

Asset

High

Income

Opportunity

Fund,

Inc.

156,014

Total

4,820,301

Total

Registered

Investment

Companies

(cost

$71,794,050)

58,117,681

Shares

Preferred

Stock

(

1.2%

)

Value

Communications

Services

(0.1%)

21,875

AT&T,

Inc.,

4.750%

k

419,562

2,481

Paramount

Global,

Convertible,

5.750%

44,038

11,250

Telephone

and

Data

Systems,

Inc.,

6.000%

k

153,563

Total

617,163

Energy

(0.1%)

11,205

Crestwood

Equity

Partners,

LP,

9.250%

k

108,800

5,300

Energy

Transfer,

LP,

7.600%

b,k

129,479

5,109

Nustar

Logistics,

LP,

12.304%

b

131,352

748

UGI

Corporation,

Convertible,

7.250%

42,741

Total

412,372

Financials

(0.8%)

7,525

Aegon

Funding

Corporation

II,

5.100%

149,446

7,500

Allstate

Corporation,

5.100%

k

146,550

10,625

Apollo

Global

Management,

Inc.,

Convertible,

6.750%

m

585,437

20,000

Bank

of

America

Corporation,

4.250%

h,k

341,000

550

Bank

of

America

Corporation,

Convertible,

7.250%

k

611,715

14,875

Capital

One

Financial

Corporation,

5.000%

k

278,460

6,200

Equitable

Holdings,

Inc.,

5.250%

k

122,140

425

First

Horizon

Bank,

6.393%

*,b,k

282,057

17,000

J.P.

Morgan

Chase

&

Company,

4.200%

k

307,700

9,925

J.P.

Morgan

Chase

&

Company,

4.750%

k

203,363

10,750

KeyCorp,

6.200%

b,k

212,205

9,050

Morgan

Stanley,

4.250%

k

154,303

7,800

Morgan

Stanley,

5.850%

b,k

181,194

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

81

Shares

Preferred

Stock

(1.2%)

Value

Financials

(0.8%)

-

continued

5,100

Morgan

Stanley,

7.125%

b,k

$

130,866

9,350

Public

Storage

Operating

Company,

4.125%

k

168,020

3,775

Public

Storage

Operating

Company,

4.625%

k

74,368

958

Public

Storage

Operating

Company,

4.700%

k

18,748

2,700

Regions

Financial

Corporation,

5.700%

b,k

52,920

2,675

Synovus

Financial

Corporation,

5.875%

b,k

57,593

9,000

U.S.

Bancorp,

4.000%

k

144,090

15,500

Wells

Fargo

&

Company,

4.250%

k

258,695

698

Wells

Fargo

&

Company,

Convertible,

7.500%

k

778,270

Total

5,259,140

Utilities

(0.2%)

6,819

AES

Corporation,

Convertible,

6.875%

415,959

14,250

CMS

Energy

Corporation,

4.200%

k

282,435

11,341

NextEra

Energy,

Inc.,

Convertible,

6.926%

h

429,030

1,831

NiSource,

Inc.,

Convertible,

7.750%

178,431

6,200

Southern

Company,

4.950%

130,510

Total

1,436,365

Total

Preferred

Stock

(cost

$9,569,705)

7,725,040

Shares

Collateral

Held

for

Securities

Loaned

(

1.1%

)

Value

7,222,625

Thrivent

Cash

Management

Trust

7,222,625

Total

Collateral

Held

for

Securities

Loaned

(cost

$7,222,625)

7,222,625

Shares

or

Principal

Amount

Short-Term

Investments

(

4.1%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

900,000

5.270%,

10/25/2023

n,o

897,057

600,000

5.285%,

11/15/2023

n,o

596,249

1,500,000

5.300%,

12/6/2023

n,o

1,486,129

100,000

5.305%,

12/13/2023

n,o

98,976

600,000

5.315%,

12/15/2023

n,o

593,688

Thrivent

Core

Short-Term

Reserve

Fund

2,180,926

5.650%

21,809,256

U.S.

Treasury

Bills

500,000

5.282%,

11/16/2023

n,p

496,691

300,000

5.267%,

11/21/2023

n,q

297,785

Total

Short-Term

Investments

(cost

$26,265,306)

26,275,831

Total

Investments

(cost

$692,358,713)

102.5%

$658,819,487

Other

Assets

and

Liabilities,

Net

(2.5%)

(16,209,117)

Total

Net

Assets

100.0%

$642,610,370

a

The

stated

interest

rate

represents

the

weighted

average

of

all

contracts

within

the

bank

loan

facility.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

September

29,

2023.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

marke

t

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

All

or

a

portion

of

the

loan

is

unfunded.

e

Denotes

investments

purchased

on

a

when-issued

or

delayed-delivery

basis.

f

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$134,964,449

or

21.0%

of

total

net

assets.

g

Denotes

step

coupon

securities.

Step

coupon

securities

pay

an

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

is

as

of

September

29,

2023.

h

All

or

a

portion

of

the

security

is

on

loan.

i

Denotes

interest

only

security.  Interest

only

securities

represent

the

right

to

receive

monthly

interest

payments

on

an

underlying

pool

of

mortgages

or

assets.  The

principal

shown

is

the

outstanding

par

amount

of

the

pool

as

of

the

end

of

the

period.

The

actual

effective

yield

of

the

security

is

different

than

the

stated

coupon

rate.

j

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

k

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

l

Defaulted

security.  Interest

is

not

being

accrued.

m

Non-income

producing

security.

n

The

interest

rate

shown

reflects

the

yield.

o

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

p

At

September

29,

2023,

$198,676

of

investments

were

segregated

to

cover

exposure

to

a

counterparty

for

margin

on

open

mortgage-backed

security

transactions.

q

All

or

a

portion

of

the

security

is

pledged

as

collateral

under

the

agreement

between

the

counterparty,

the

custodian

and

the

fund

for

open

swap

contracts.

*

Denotes

restricted

securities.

Restricted

securities

are

investment

securities

which

cannot

be

offered

for

public

sale

without

first

being

registered

under

the

Securities

Act

of

1933.

The

value

of

all

restricted

securities

held

in

Diversified

Income

Plus

Portfolio

as

of

September

29,

2023

was

$292,507

or

0.05%

of

total

net

assets.

The

following

table

indicates

the

acquisition

date

and

cost

of

restricted

securities

shown

in

the

schedule

as

of

September

29,

2023.

Security

Acquisition

Date

Cost

Credit

Suisse

Group

AG,

12/29/2049

12/04/2013

$

110,000

First

Horizon

Bank,

6.393%,

3/5/2019

06/21/2017

323,002

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

82

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Diversified

Income

Plus

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

6,125,297

Common

Stock

869,356

Total

lending

$6,994,653

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$7,222,625

Net

amounts

due

to

counterparty

$227,972

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

CLO

-

Collateralized

Loan

Obligation

ETF

-

Exchange

Traded

Fund

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Reference

Rate

Index:

CMT

1Y

-

Constant

Maturity

Treasury

Yield

1

Year

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

PRIME

-

Federal

Reserve

Prime

Loan

Rate

SOFR30A

-

Secured

Overnight

Financing

Rate

30

Year

Average

SOFRRATE

-

Secured

Overnight

Financing

Rate

TSFR1M

-

CME

Term

SOFR

1

Month

TSFR3M

-

CME

Term

SOFR

3

Month

TSFR6M

-

CME

Term

SOFR

6

Month

USISOA05

-

USD

SOFR

Spread-Adjusted

ICE

Swap

Rate

5

Year

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

83

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Diversified

Income

Plus

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Bank

Loans

Basic

Materials

1,471,671

–

1,303,635

168,036

Capital

Goods

4,874,702

–

4,408,703

465,999

Communications

Services

6,801,181

–

6,801,181

–

Consumer

Cyclical

8,190,071

–

8,190,071

–

Consumer

Non-Cyclical

7,662,024

–

7,337,148

324,876

Energy

1,078,445

–

1,078,445

–

Financials

3,796,384

–

3,796,384

–

Technology

9,742,320

–

9,742,320

–

Transportation

2,695,060

–

2,695,060

–

Utilities

530,596

–

530,596

–

Long-Term

Fixed

Income

Asset-Backed

Securities

38,429,524

–

38,429,524

–

Basic

Materials

6,876,019

–

6,876,019

–

Capital

Goods

12,247,200

–

12,247,200

–

Collateralized

Mortgage

Obligations

32,871,000

–

32,871,000

–

Commercial

Mortgage-Backed

Securities

4,276,228

–

4,276,228

–

Communications

Services

15,572,226

–

15,572,226

–

Consumer

Cyclical

22,429,212

–

22,429,212

–

Consumer

Non-Cyclical

18,484,938

–

18,484,938

–

Energy

17,532,583

–

17,532,583

–

Financials

50,424,029

–

50,424,029

–

Foreign

Government

137,818

–

137,818

–

Mortgage-Backed

Securities

137,480,743

–

137,480,743

–

Technology

14,560,908

–

14,560,908

–

Transportation

5,298,195

–

5,298,195

–

U.S.

Government

&

Agencies

30,792,411

–

30,792,411

–

Utilities

11,607,547

–

11,607,547

–

Common

Stock

Communications

Services

6,828,097

6,783,694

44,403

–

Consumer

Discretionary

10,080,250

10,080,250

–

–

Consumer

Staples

5,357,135

5,357,135

–

–

Energy

5,030,097

5,030,097

–

–

Financials

13,997,215

13,997,215

–

–

Health

Care

11,176,439

11,176,439

–

–

Industrials

12,826,147

12,522,321

303,826

–

Information

Technology

19,108,556

18,701,494

407,062

–

Materials

3,679,682

3,551,597

128,085

–

Real

Estate

2,884,159

2,884,159

–

–

Utilities

2,647,498

2,647,498

–

–

Preferred

Stock

Communications

Services

617,163

617,163

–

–

Energy

412,372

412,372

–

–

Financials

5,259,140

4,977,083

282,057

–

Utilities

1,436,365

1,436,365

–

–

Registered

Investment

Companies

U.S.

Unaffiliated

4,820,301

4,755,281

–

65,020

Short-Term

Investments

4,466,575

–

4,466,575

–

Subtotal

Investments

in

Securities

$576,490,226

$104,930,163

$470,536,132

$1,023,931

Other

Investments  *

Total

U.S.

Affiliated

Registered

Investment

Cos.

53,297,380

Affiliated

Short-Term

Investments

21,809,256

Collateral

Held

for

Securities

Loaned

7,222,625

Subtotal

Other

Investments

$82,329,261

Total

Investments

at

Value

$658,819,487

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

84

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

S&P

-

Standard

&

Poor's

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Diversified

Income

Plus

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

864,241

864,241

–

–

Credit

Default

Swaps

2,469

–

2,469

–

Total

Asset

Derivatives

$866,710

$864,241

$2,469

$–

Liability

Derivatives

Futures

Contracts

2,971,560

2,971,560

–

–

Total

Liability

Derivatives

$2,971,560

$2,971,560

$–

$–

The

following

table

presents

Diversified

Income

Plus

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$3,672,099

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Amount

Value

and

Unrealized

CBOT

2-Yr.

U.S.

Treasury

Note

34

December

2023

$

6,922,808

(

$

30,636)

CBOT

U.S.

Long

Bond

72

December

2023

8,667,965

(

475,715)

CME

E-mini

S&P

500

Index

121

December

2023

27,258,571

(

1,089,296)

CME

Ultra

Long

Term

U.S.

Treasury

Bond

87

December

2023

11,123,340

(

797,527)

ICE

mini

MSCI

EAFE

Index

132

December

2023

13,859,612

(

385,712)

ICE

US

mini

MSCI

Emerging

Markets

Index

39

December

2023

1,910,364

(

47,139)

Ultra

10-Yr.

U.S.

Treasury

Note

41

December

2023

4,719,597

(

145,535)

Total

Futures

Long

Contracts

$

74,462,257

(

$

2,971,560)

CME

E-mini

Russell

2000

Index

(156)

December

2023

(

$

14,638,719)

$

609,639

CME

E-mini

S&P

Mid-Cap

400

Index

(7)

December

2023

(

1,822,168)

57,888

CME

Euro

Foreign

Exchange

Currency

(50)

December

2023

(

6,723,604)

90,791

Eurex

Euro

STOXX

50

Index

(147)

December

2023

(

6,614,735)

105,923

Total

Futures

Short

Contracts

(

$

29,799,226)

$864,241

Total

Futures

Contracts

$

44,663,031

($2,107,319)

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

85

The

following

table

presents

Diversified

Income

Plus

Portfolio's

swaps

contracts

held

as

of

September

29,

2023.

Investments

totaling

$297,785

were

pledged

as

collateral

under

the

agreement

between

the

counterparty,

the

custodian

and

the

fund

for

open

swap

contracts.

Credit

Default

Swaps

Buy/Sell

Protection

1

Termination

Date

Notional

Principal

Amount

2

Upfront

Payments/

(Receipts)

Value

3

Unrealized

Gain/(Loss)

CDX

HY

41,

5

Year,

at

5.00%,

Quarterly

Buy

12/20/2028

$

3,810,000

$

–

$

2,469

$

2,469

Total

Credit

Default

Swaps

$–

$2,469

$2,469

1

As

the

buyer

of

protection,

Diversified

Income

Plus

Portfolio

pays

periodic

fees

in

return

for

payment

by

the

seller

which

is

contingent

upon

an

adverse

credit

event

occurring

in

the

underlying

issuer

or

reference

entity.

As

the

seller

of

protection,

Diversified

Income

Plus

Portfolio

collects

periodic

fees

from

the

buyer

and

profits

if

the

credit

of

the

underlying

issuer

or

reference

entity

remains

stable

or

improves

while

the

swap

is

outstanding,

but

the

seller

in

a

credit

default

swap

contract

would

be

required

to

pay

the

amount

of

credit

loss,

determined

as

specified

in

the

agreement,

to

the

buyer

in

the

event

of

an

adverse

credit

event

in

the

reference

entity.

2

The

maximum

potential

amount

of

future

payments

Diversified

Income

Plus

Portfolio

could

be

required

to

make

as

the

seller

or

receive

as

the

buyer

of

protection.

3

The

values

for

credit

indexes

(CDX

or

LCDX)

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

liability

or

profit

for

the

credit

default

swap

contract

had

the

contract

been

closed

as

of

the

reporting

date.

When

protection

has

been

sold,

the

value

of

the

swap

will

increase

when

the

swap

spread

declines

representing

an

improvement

in

the

reference

entity's

credit

worthiness.

The

value

of

the

swap

will

decrease

when

the

swap

spread

increases

representing

a

deterioration

in

the

reference

entity's

credit

worthiness.

When

protection

has

been

purchased,

the

value

of

the

swap

will

increase

when

the

swap

spread

increases

representing

a

deterioration

in

the

reference

entity's

credit

worthiness.

The

value

of

the

swap

will

decrease

when

the

swap

spread

declines

representing

an

improvement

in

the

reference

entity's

credit

worthiness.

Diversified

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

86

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Diversified

Income

Plus

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$59,518

$2,415

$14,350

$46,609

6,290

7.2%

Core

International

Equity

15,745

–

10,000

6,688

709

1.1

Total

U.S.

Affiliated

Registered

Investment

Companies

75,263

53,297

8.3

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

66,018

188,482

232,691

21,809

2,181

3.4

Total

Affiliated

Short-Term

Investments

66,018

21,809

3.4

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

7,289

59,727

59,793

7,223

7,223

1.1

Total

Collateral

Held

for

Securities

Loaned

7,289

7,223

1.1

Total

Value

$148,570

$82,329

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

($4,268)

$3,294

$

–

$2,415

Core

International

Equity

(144)

1,087

–

–

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

–

–

–

1,799

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$4,214

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

83

Total

Affiliated

Income

from

Securities

Loaned,

Net

$83

Total

Value

($4,412)

$4,381

$

–

Emerging

Markets

Equity

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

87

Shares

Common

Stock

(

98.0%

)

Value

Belgium

(<0.1%)

483

Titan

Cement

International

SA

$

9,039

Total

9,039

Bermuda

(<0.1%)

26,000

Road

King

Infrastructure,

Ltd.

a

5,848

118,000

Shanghai

Industrial

Urban

Development

Group,

Ltd.

5,558

Total

11,406

Brazil

(5.7%)

5,000

Alupar

Investimento

SA

28,668

11,400

Ambev

SA

29,756

34,828

B3

SA

-

Brasil

Bolsa

Balcao

85,016

26,890

Banco

Bradesco

SA

ADR

76,637

1,700

Banco

BTG

Pactual

SA

10,494

24,400

Banco

do

Brasil

SA

229,362

26,941

Companhia

Energetica

de

Minas

Gerais

ADR

65,197

6,222

Companhia

Siderurgica

Nacional

SA

ADR

14,870

22,400

CPFL

Energia

SA

150,758

10,500

ENGIE

Brasil

Energia

SA

86,606

28,767

Gerdau

SA

ADR

137,219

393,300

Grupo

Casas

Bahia

SA

a

49,294

9,300

Guararapes

Confeccoes

SA

a

9,769

24,600

Hypera

SA

182,351

18,400

Iochpe-Maxion

SA

49,967

32,205

Itau

Unibanco

Holding

SA

ADR

172,941

77,400

Itausa

SA

139,200

6,100

Jalles

Machado

SA

10,437

193

Jalles

Machado

SA,

Common

Receipt

a,b

330

28,000

JBS

S/A

100,546

2,300

Localiza

Rent

a

Car

SA

26,859

16

Localiza

Rent

a

Car

SA,

Rights

a

57

28,200

Metalurgica

Gerdau

SA

62,498

65,700

Petroleo

Brasileiro

SA

450,674

28,325

Petroleo

Brasileiro

SA

ADR

424,592

18,300

Randon

SA

Implementos

e

Participacoes

42,705

27,900

Telefonica

Brasil

SA

238,506

6,039

Telefonica

Brasil

SA

ADR

51,634

87,100

TIM

SA/Brazil

259,053

33,536

Vale

SA

ADR

449,382

1,487

WEG

SA

10,751

Total

3,646,129

Cayman

Islands

(15.4%)

171,700

Alibaba

Group

Holding,

Ltd.

a

1,861,603

9,800

ANTA

Sports

Products,

Ltd.

109,655

4,275

Baidu.com,

Inc.

ADR

a

574,346

5,000

China

Mengniu

Dairy

Company,

Ltd.

16,678

77,400

Chow

Tai

Fook

Jewellery

Group,

Ltd.

116,208

95,000

Consun

Pharmaceutical

Group,

Ltd.

61,560

38,000

Geely

Automobile

Holdings,

Ltd.

44,564

101,000

Haidilao

International

Holding,

Ltd.

c

269,300

24,335

Hello

Group,

Inc.

ADR

169,858

7,881

Huazhu

Group,

Ltd.

ADR

a

310,748

9,209

JD.com,

Inc.

133,980

1,158

JOYY,

Inc.

ADR

44,131

9,388

KE

Holdings,

Inc.

ADR

145,702

33,700

Kuaishou

Technology

a,c

268,108

Shares

Common

Stock

(98.0%)

Value

Cayman

Islands

(15.4%)

-

continued

49,700

Meituan

a,c

$

719,467

2,284

MINISO

Group

Holding,

Ltd.

ADR

59,156

13,500

NetDragon

Websoft

Holdings,

Ltd.

24,880

4,145

NetEase

,

Inc.

ADR

415,163

5,742

PDD

Holdings,

Inc.

ADR

a

563,118

14,000

Seazen

Group,

Ltd.

a

2,545

698,500

Shui

On

Land,

Ltd.

63,221

116,000

Sino

Biopharmaceutical,

Ltd.

41,755

71,100

Tencent

Holdings,

Ltd.

2,756,118

38,632

Tencent

Music

Entertainment

Group

ADR

a

246,472

94,800

Tongcheng

Travel

Holdings,

Ltd.

a

207,355

150,000

Topsports

International

Holdings,

Ltd.

c

113,406

7,082

Trip.com

Group,

Ltd.

ADR

a

247,657

5,000

Want

Want

China

Holdings,

Ltd.

3,259

160,000

Xiaomi

Corporation

a,c

250,657

19,000

Zhongsheng

Group

Holdings,

Ltd.

53,198

Total

9,893,868

Chile

(0.5%)

57,475

Cencosud

SA

108,981

595,603

Colbun

SA

81,098

18,744

Embotelladora

Andina

SA

42,164

9,654

Empresas

CMPC

SA

17,774

25,539

S.A.C.I.

Falabella

57,066

Total

307,083

China

(12.7%)

366,800

Agricultural

Bank

of

China,

Ltd.

180,955

358,300

Aluminum

Corporation

of

China,

Ltd.,

Class

A

309,001

454,000

Aluminum

Corporation

of

China,

Ltd.,

Class

H

252,549

1,045,400

Bank

of

China,

Ltd.,

Class

A

540,327

410,000

Bank

of

Communications

Company,

Ltd.

323,948

386,500

Baoshan

Iron

&

Steel

Company,

Ltd.

322,954

6,900

Beijing

Tongrentang

Company,

Ltd.

51,750

389,900

BOE

Technology

Group

Company,

Ltd.

206,448

2,000

BYD

Company,

Ltd.,

Class

H

61,620

708,000

CGN

Power

Company,

Ltd.

c

183,288

351,000

China

Cinda

Asset

Management

Company,

Ltd.

35,261

23,000

China

Construction

Bank

Corporation

12,929

72,700

China

Merchants

Securities

Company,

Ltd.

139,843

552,000

China

Petroleum

&

Chemical

Corporation,

Class

H

300,225

218,000

China

Railway

Group,

Ltd.

112,112

7,500

China

Resources

Sanjiu

Medical

&

Pharmaceutical

Company,

Ltd.

51,465

47,800

China

State

Construction

Engineering

Corporation,

Ltd.

36,316

38,300

CITIC

Securities

Company,

Ltd.,

Class

A

114,389

423,000

CMOC

Group,

Ltd.

269,859

539,000

CRRC

Corporation,

Ltd.

259,743

77,700

Focus

Media

Information

Technology

Company,

Ltd.

76,212

147,500

Foxconn

Industrial

Internet

Company,

Ltd.

400,011

Emerging

Markets

Equity

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

88

Shares

Common

Stock

(98.0%)

Value

China

(12.7%)

-

continued

21,600

Fuyao

Glass

Industry

Group

Company,

Ltd.,

Class

H

c

$

98,805

54,200

GF

Securities

Company,

Ltd.,

Class

H

72,416

756,200

Greenland

Holdings

Corporation,

Ltd.

a

284,612

45,200

Guangzhou

Baiyunshan

Pharmaceutical

Holdings,

Ltd.

194,438

114,000

Guotai

Junan

Securities

Company,

Ltd.

227,902

28,800

Haier

Smart

Home

Company,

Ltd.,

Class

H

90,016

12,800

Huatai

Securities

Company,

Ltd.

c

16,320

40,600

Jiangxi

Copper

Company,

Ltd.,

Class

A

107,277

207,000

Jiangxi

Copper

Company,

Ltd.,

Class

H

322,888

103,300

Jointown

Pharmaceutical

Group

Company,

Ltd.

153,167

644,000

People's

Insurance

Company

(Group)

of

China,

Ltd.

230,381

109,600

PetroChina

Company,

Ltd.,

Class

A

119,777

454,000

PetroChina

Company,

Ltd.,

Class

H

340,242

58,000

Ping

An

Insurance

(Group)

Company

of

China,

Ltd.

328,955

2,800

Shanghai

Pharmaceuticals

Holding

Company,

Ltd.,

Class

A

6,937

25,000

Shanghai

Pharmaceuticals

Holding

Company,

Ltd.,

Class

H

38,925

277,200

Shenwan

Hongyuan

Group

Company,

Ltd.

164,818

176,600

Shenzhen

Overseas

Chinese

Town

Company,

Ltd.

a

102,789

14,700

Shenzhou

International

Group

Holdings,

Ltd.

139,792

5,400

Sichuan

Kelun

Pharmaceutical

Company,

Ltd.

21,573

83,000

Tong

Ren

Tang

Technologies

Company,

Ltd.

65,821

14,000

Tsingtao

Brewery

Company,

Ltd.

114,002

19,155

Vipshop

Holdings,

Ltd.

ADR

a

306,672

75,000

Wanda

Film

Holding

Company,

Ltd.

a

139,134

30,999

Yunnan

Baiyao

Group

Company,

Ltd.

226,687

7,000

Zhongjin

Gold

Corporation,

Ltd.

10,453

Total

8,166,004

Colombia

(<0.1%)

1,282

Bancolombia

SA

9,769

Total

9,769

Czech

Republic

(0.3%)

6,195

Komercni

Banka

AS

180,119

42

Philip

Morris

CR

31,237

Total

211,356

Egypt

(0.1%)

39,587

Commercial

International

Bank

Egypt

SAE

GDR

52,176

Total

52,176

Greece

(0.4%)

2,870

Mytilineos

SA

105,638

Shares

Common

Stock

(98.0%)

Value

Greece

(0.4%)

-

continued

24,917

National

Bank

of

Greece

SA

a

$

140,279

Total

245,917

Hong

Kong

(0.6%)

46,000

China

Resources

Beer

(Holdings)

Company,

Ltd.

251,272

51,000

CITIC,

Ltd.

46,683

44,000

CSPC

Pharmaceutical

Group,

Ltd.

32,179

31,000

Far

East

Horizon,

Ltd.

22,299

28,000

Genertec

Universal

Medical

Group

Company,

Ltd.

c

13,943

14,000

Yuexiu

Property

Company,

Ltd.

16,093

Total

382,469

Hungary

(0.4%)

9,487

MOL

Hungarian

Oil

&

Gas

plc

71,858

5,283

OTP

Bank

Nyrt

190,473

Total

262,331

India

(16.5%)

439

ABB

India,

Ltd.

21,626

2,684

Amara

Raja

Energy

&

Mobility,

Ltd.

20,572

10,564

Asian

Paints,

Ltd.

401,521

12,825

Bajaj

Auto,

Ltd.

780,065

12,103

Bajaj

Finserv

,

Ltd.

223,758

34,433

Cipla

,

Ltd.

491,083

19,759

Coal

India,

Ltd.

70,078

4,913

Coromandel

International,

Ltd.

67,707

909

CRISIL,

Ltd.

42,886

7,281

Cummins

India,

Ltd.

148,387

2,722

Dr.

Reddy's

Laboratories,

Ltd.

ADR

182,020

35,941

HCL

Technologies,

Ltd.

532,697

9,021

HDFC

Asset

Management

Company,

Ltd.

c

287,324

36,174

HDFC

Life

Insurance

Company,

Ltd.

c

277,066

2,717

Hindustan

Unilever,

Ltd.

80,578

165,850

Indian

Oil

Corporation,

Ltd.

181,398

38,188

Infosys,

Ltd.

ADR

653,397

31,644

ITC,

Ltd.

169,075

37,318

Jio

Financial

Services,

Ltd.

a

103,899

23,696

Kotak

Mahindra

Bank,

Ltd.

493,825

30,269

Larsen

&

Toubro,

Ltd.

1,099,761

1,738

LTIMindtree

,

Ltd.

c

108,592

997

Mphasis

,

Ltd.

28,424

105

MRF,

Ltd.

135,495

315

Nestle

India,

Ltd.

85,253

2,378

Persistent

Systems,

Ltd.

165,253

9,155

PI

Industries,

Ltd.

380,253

8,446

Pidilite

Industries,

Ltd.

247,718

2,681

Polycab

India,

Ltd.

172,148

68,179

REC,

Ltd.

235,516

16,602

Reliance

Industries,

Ltd.

467,424

20,857

SBI

Life

Insurance

Company,

Ltd.

c

327,166

3,247

Schaeffler

India,

Ltd.

129,277

5,092

Siemens,

Ltd.

224,803

903

Solar

Industries

India,

Ltd.

52,323

1,094

Supreme

Industries,

Ltd.

54,297

23,701

Tata

Consultancy

Services,

Ltd.

1,003,552

8,061

Tech

Mahindra,

Ltd.

118,345

777

Thermax

,

Ltd.

29,059

3,082

UltraTech

Cement,

Ltd.

305,633

Total

10,599,254

Emerging

Markets

Equity

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

89

Shares

Common

Stock

(98.0%)

Value

Indonesia

(2.4%)

478,700

Astra

International

Tbk

PT

$

192,275

1,525,500

Bank

Central

Asia

Tbk

PT

869,131

573,800

Bank

Mandiri

Persero

Tbk

PT

a

223,338

770,796

Bank

Rakyat

Indonesia

Persero

Tbk

PT

260,323

Total

1,545,067

Kuwait

(0.9%)

14,367

HumanSoft

Holding

Company

KSCC

145,227

6,590

Kuwait

Finance

House

KSCP

15,603

43,235

Mobile

Telecommunications

Company

KSCP

68,045

100,732

National

Bank

of

Kuwait

KSC

295,207

43,551

National

Industries

Group

Holding

28,194

Total

552,276

Luxembourg

(0.2%)

6,182

Reinet

Investments

SCA

135,739

Total

135,739

Malaysia

(1.2%)

4,200

AEON

Credit

Service

(M)

Bhd

10,895

96,100

Hong

Leong

Bank

Bhd

398,817

16,000

IOI

Corporation

Bhd

13,542

6,300

Kuala

Lumpur

Kepong

Bhd

28,679

87,000

Mah

Sing

Group

Bhd

16,652

3,400

Malayan

Banking

Bhd

6,361

14,400

MISC

Bhd

21,694

4,300

Petronas

Dagangan

Bhd

20,496

33,400

Public

Bank

Bhd

28,857

36,100

QL

Resources

Bhd

41,980

54,800

Sports

Toto

Bhd

17,273

13,500

Ta

Ann

Holdings

Bhd

9,690

75,000

Tenaga

Nasional

Bhd

159,505

Total

774,441

Mexico

(2.4%)

2,259

America

Movil

SAB

de

CV

ADR

39,126

28,800

Arca

Continental

SAB

de

CV

262,377

42,074

Cemex

SAB

de

CV

ADR

a

273,481

4,398

Coca-Cola

Femsa

SAB

de

CV

ADR

344,979

375

Fomento

Economico

Mexicano

SAB

de

CV

ADR

40,931

14,210

Grupo

Financiero

Banorte

SAB

de

CV

ADR

119,102

52,100

Grupo

Mexico

SAB

de

CV

246,218

5,000

Kimberly-Clark

de

Mexico,

SA

de

CV

9,956

77,500

Megacable

Holdings

SAB

de

CV

171,209

7,500

Wal-Mart

de

Mexico

SAB

de

CV

28,309

Total

1,535,688

Netherlands

(0.2%)

19,262

NEPI

Rockcastle

NV

105,905

Total

105,905

Philippines

(0.6%)

10,390

Aboitiz

Equity

Ventures,

Inc.

9,210

10,980

Jollibee

Foods

Corporation

44,466

20,550

SM

Investments

Corporation

306,179

Total

359,855

Shares

Common

Stock

(98.0%)

Value

Poland

(1.0%)

5,139

Asseco

Poland

SA

$

84,172

17,513

Orlen

SA

234,635

9,322

Powszechna

Kasa

Oszczednosci

Bank

Polski

SA

a

73,744

24,099

Powszechny

Zaklad

Ubezpieczen

SA

227,627

539

Santander

Bank

Polska

SA

a

44,249

Total

664,427

Qatar

(0.3%)

10,704

Commercial

Bank

PSQC

15,877

63,611

Gulf

International

Services

QSC

51,098

92,345

Masraf

Al

Rayan

QSC

56,562

13,213

Ooredoo

QPSC

38,804

2,749

Qatar

Electricity

&

Water

Company

QSC

13,232

20,230

Qatar

Gas

Transport

Company,

Ltd.

20,682

Total

196,255

Russian

Federation

(<0.1%)

22,154

LUKOIL

PJSC

a,b,d

0

78,093

NovaTek

PJSC

a,b,d

0

136,926

Sberbank

of

Russia

PJSC

a,b,d

0

Total

0

Saudi

Arabia

(3.4%)

31,283

Al

Rajhi

Bank

566,740

33,545

Alinma

Bank

299,004

2,634

Arab

National

Bank

16,855

2,630

Dr.

Sulaiman

Al

Habib

Medical

Services

Group

Company

165,284

1,908

Eastern

Province

Cement

Company

19,815

7,234

Fawaz

Abdulaziz

Al

Hokair

&

Company

a

40,240

42,728

Jarir

Marketing

Company

165,195

30,839

National

Commercial

Bank

269,827

12,477

Riyad

Bank

92,384

632

SABIC

Agri

-Nutrients

Company

22,430

5,463

Saudi

Arabian

Oil

Company

c

50,894

1,238

Saudi

Aramco

Base

Oil

Company

49,123

2,285

Saudi

Basic

Industries

Corporation

50,314

10,636

Saudi

Electricity

Company

54,125

27,431

Saudi

Telecom

Company

275,101

3,651

Savola

Group

35,113

Total

2,172,444

Singapore

(<0.1%)

1,501

China

Yuchai

International,

Ltd.

15,160

Total

15,160

South

Africa

(2.1%)

18,648

Absa

Group,

Ltd.

171,856

26,964

AECI,

Ltd.

160,584

16,179

Aspen

Pharmacare

Holdings,

Ltd.

146,821

3,039

Barloworld,

Ltd.

13,939

4,412

Coronation

Fund

Managers,

Ltd.

7,219

32,472

DataTec

,

Ltd.

61,655

26,482

FirstRand,

Ltd.

89,176

6,119

Kumba

Iron

Ore,

Ltd.

146,979

24,886

Momentum

Metropolitan

Holdings

25,972

3,796

MTN

Group,

Ltd.

22,625

1,406

Naspers,

Ltd.

224,945

9,435

Sasol,

Ltd.

129,516

16,925

Standard

Bank

Group

164,229

5,090

Super

Group,

Ltd.

8,893

Emerging

Markets

Equity

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

90

Shares

Common

Stock

(98.0%)

Value

South

Africa

(2.1%)

-

continued

10,411

Vukile

Property

Fund,

Ltd.

$

7,203

Total

1,381,612

South

Korea

(10.6%)

1,142

AfreecaTV

Company,

Ltd.

70,933

180

Chong

Kun

Dang

Pharmaceutical

Corporation

a

12,510

269

Chongkundang

Holdings

Corporation

10,724

871

CJ

Corporation

57,821

2,216

Doosan

Bobcat,

Inc.

83,641

3,295

Green

Cross

Holdings

Corporation

34,040

10,800

GS

Holdings

Corporation

318,652

693

Hanmi

Pharm

Company,

Ltd.

153,616

2,216

Hanwha

Corporation

39,301

1,292

Huons

Global

Company,

Ltd.

21,695

758

HYBE

Company,

Ltd.

a

133,409

516

Hyundai

Motor

Company

72,965

552

Hyundai

Steel

Company

15,528

1,326

JW

Pharmaceutical

Corporation

a

37,656

1,907

JYP

Entertainment

Corporation

158,351

6,129

Kakao

Corporation

200,030

6,009

Kia

Corporation

361,683

173

Korea

Zinc

Company,

Ltd.

64,803

172

LG

Chem

,

Ltd.

62,975

3,838

Lotte

Shopping

Company,

Ltd.

202,812

1,252

Meritz

Financial

Group,

Inc.

51,238

1,483

NAVER

Corporation

221,730

24,011

NH

Investment

&

Securities

Company,

Ltd.

181,748

51

NongShim

Company,

Ltd.

17,844

2,291

PharmaResearch

Company,

Ltd.

214,417

1,058

POSCO

Holdings,

Inc.

416,819

595

Samsung

Biologics

Company,

Ltd.

a,c

300,348

3,237

Samsung

C&T

Corporation

258,087

45,223

Samsung

Electronics

Company,

Ltd.

2,286,210

109

Samsung

SDI

Company,

Ltd.

41,193

9,441

Samsung

Securities

Corporation,

Ltd.

256,864

1,297

Seoul

Semiconductor

Company,

Ltd.

10,103

332

SGC

Energy

Company,

Ltd.

6,321

95

SK

Biopharmaceuticals

Company,

Ltd.

a

6,066

4,016

SK

Hynix,

Inc.

340,013

1,367

Yuhan

Corporation

76,735

Total

6,798,881

Taiwan

(15.3%)

11,316

ASE

Technology

Holding

Company,

Ltd.

ADR

85,096

64,000

Asia

Cement

Corporation

78,839

7,000

Asustek

Computer,

Inc.

79,653

206,000

Capital

Securities

Corporation

93,261

187,000

Cheng

Shin

Rubber

Industry

Company,

Ltd.

246,350

3,000

Chicony

Power

Technology

Company,

Ltd.

10,648

9,000

China

Steel

Chemical

Corporation

31,531

130,000

China

Steel

Corporation

101,730

113,000

Chipbond

Technology

Corporation

239,023

22,000

Delta

Electronics,

Inc.

221,582

25,000

Elan

Microelectronics

Corporation

103,470

Shares

Common

Stock

(98.0%)

Value

Taiwan

(15.3%)

-

continued

37,000

Everlight

Electronics

Company,

Ltd.

$

53,796

66,000

Feng

Hsin

Steel

Company,

Ltd.

137,474

11,000

Getac

Holdings

Corporation

26,495

6,000

Global

Mixed

Mode

Technology,

Inc.

48,612

2,000

Grape

King

Bio,

Ltd.

9,671

1,060

Hotai

Motor

Company,

Ltd.

a

21,542

5,000

Makalot

Industrial

Company,

Ltd.

52,073

16,000

MediaTek

,

Inc.

365,806

41,000

Micro-Star

International

Company,

Ltd.

208,580

176,000

Nan

Ya

Plastics

Corporation

363,093

41,000

Novatek

Microelectronics

Corporation

538,396

106,000

Pou

Chen

Corporation

94,186

26,000

Powertech

Technology,

Inc.

81,830

8,000

President

Chain

Store

Corporation

65,035

72,000

Quanta

Computer,

Inc.

538,856

24,000

Radiant

Opto

-Electronics

Corporation

91,444

41,000

Realtek

Semiconductor

Corporation

503,415

22,000

Sigurd

Microelectronics

Corporation

39,171

5,100

SinoPac

Financial

Holdings

Company,

Ltd.

2,751

15,000

Systex

Corporation

49,239

65,646

Taichung

Commercial

Bank

Company,

Ltd.

a

29,806

250,900

Taiwan

Cooperative

Financial

Holding

Company,

Ltd.

199,084

247,499

Taiwan

Semiconductor

Manufacturing

Company,

Ltd.

4,035,779

50,704

Topco

Scientific

Company,

Ltd.

266,494

3,000

TTY

Biopharm

Company,

Ltd.

7,179

110,000

Uni

-President

Enterprises

Corporation

239,080

19,000

USI

Corporation

12,213

41,000

Winbond

Electronics

Corporation

32,227

496,840

Yuanta

Financial

Holding

Company,

Ltd.

a

385,953

Total

9,790,463

Thailand

(0.8%)

33,700

Bangchak

Corporation

pcl

NVDR

37,801

153,500

Bangkok

Dusit

Medical

Services

pcl

NVDR

112,423

73,700

Home

Product

Center

pcl

NVDR

25,240

343,000

Krung

Thai

Bank

pcl

NVDR

178,546

720,500

Land

and

Houses

pcl

NVDR

154,065

25,600

PTT

pcl

NVDR

23,479

Total

531,554

Turkey

(1.1%)

24,658

BIM

Birlesik

Magazalar

AS

246,679

36,379

KOC

Holding

AS

194,463

1,209

Tofas

Turk

Otomobil

Fabrikasi

AS

13,013

25,374

Turk

Hava

Yollari

Anonim

Ortakligi

a

223,961

Total

678,116

United

Arab

Emirates

(2.1%)

11,421

Abu

Dhabi

Islamic

Bank

PJSC

35,012

33,861

Aldar

Properties

PJSC

53,111

134,893

Deyaar

Development

PJSC

a

24,726

137,107

Dubai

Islamic

Bank

PJSC

218,394

242,308

Emaar

Properties

PJSC

530,276

Emerging

Markets

Equity

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

91

Shares

Common

Stock

(98.0%)

Value

United

Arab

Emirates

(2.1%)

-

continued

35,859

Emirates

Central

Cooling

Systems

Corporation

$

18,409

91,286

Emirates

NBD

Bank

PJSC

442,383

Total

1,322,311

United

States

(0.8%)

9,664

Yum

China

Holding,

Inc.

538,478

Total

538,478

Total

Common

Stock

(cost

$64,191,011)

62,895,473

Shares

Preferred

Stock

(

0.7%

)

Brazil

(<0.1%)

15,000

Companhia

de

Saneamento

do

Parana

13,638

Total

13,638

South

Korea

(0.7%)

11,405

Samsung

Electronics

Company,

Ltd.

459,467

Total

459,467

Total

Preferred

Stock

(cost

$505,547)

473,105

Shares

or

Principal

Amount

Short-Term

Investments

(

1.0%

)

Federal

Home

Loan

Bank

Discount

Notes

100,000

5.270%,

 10/25/2023

e,f

99,673

Thrivent

Core

Short-Term

Reserve

Fund

51,904

5.650%

519,036

Total

Short-Term

Investments

(cost

$618,671)

618,709

Total

Investments

(cost

$65,315,229)

99.7%

$63,987,287

Other

Assets

and

Liabilities,

Net

0.3%

185,108

Total

Net

Assets

100.0%

$64,172,395

a

Non-income

producing

security.

b

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

c

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$3,284,684

or

5.1%

of

total

net

assets.

d

Pursuant

to

sanctions

related

to

the

Russian

invasion

of

Ukraine

which

restricts

the

ability

of

Russia

and

its

allied

nations

to

make

payments

on

its

dollar-denominated

sovereign

debt

and

equity,

existing

accruals

on

these

securities

have

been

reserved

and

income

is

currently

not

being

accrued.

e

The

interest

rate

shown

reflects

the

yield.

f

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

Bhd

-

Borhad

-

suffix

used

in

Malaysia

to

identify

a

Public

Limited

Company

GDR

-

Global

Depository

Receipts,

which

are

certificates

for

shares

of

an

underlying

foreign

security’s

shares

held

by

an

issuing

depository

bank

from

more

than

one

country.

NVDR

-

Non-Voting

Depository

Receipts

pcl

-

Public

Company

Limited

plc

-

Public

Limited

Company

Emerging

Markets

Equity

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

92

Reference

Description:

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Emerging

Markets

Equity

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

6,662,978

1,540,730

5,122,248

–

Consumer

Discretionary

8,812,590

2,025,829

6,786,761

–

Consumer

Staples

2,437,433

385,910

2,051,193

330

Energy^

2,865,353

424,592

2,440,761

0

Financials^

12,262,326

249,578

12,012,748

0

Health

Care

3,101,225

182,020

2,919,205

–

Industrials

4,309,689

15,160

4,294,529

–

Information

Technology

13,899,686

738,493

13,161,193

–

Materials

6,178,680

874,952

5,303,728

–

Real

Estate

1,518,306

145,702

1,372,604

–

Utilities

847,207

65,197

782,010

–

Preferred

Stock

Information

Technology

459,467

–

459,467

–

Utilities

13,638

–

13,638

–

Short-Term

Investments

99,673

–

99,673

–

Subtotal

Investments

in

Securities

$63,468,251

$6,648,163

$56,819,758

$330

Other

Investments  *

Total

Affiliated

Short-Term

Investments

519,036

Subtotal

Other

Investments

$519,036

Total

Investments

at

Value

$63,987,287

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.

^

Level

3

security

in

this

section

is

fair

valued

at

<$1.  

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Emerging

Markets

Equity

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Liability

Derivatives

Futures

Contracts

44,945

44,945

–

–

Total

Liability

Derivatives

$44,945

$44,945

$–

$–

The

following

table

presents

Emerging

Markets

Equity

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$99,673

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

ICE

US

mini

MSCI

Emerging

Markets

Index

37

December

2023

$

1,812,620

(

$

44,945)

Total

Futures

Long

Contracts

$

1,812,620

(

$

44,945)

Total

Futures

Contracts

$

1,812,620

($44,945)

Emerging

Markets

Equity

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

93

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Emerging

Markets

Equity

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$753

$13,703

$13,937

$519

52

0.8%

Total

Affiliated

Short-Term

Investments

753

519

0.8

Total

Value

$753

$519

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$28

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$28

Total

Value

$–

$–

$

–

ESG

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

94

Shares

Common

Stock

(

93.8%

)

Value

Communications

Services

(8.7%)

10,967

Alphabet,

Inc.,

Class

A

a

$

1,435,142

9,759

Alphabet,

Inc.,

Class

C

a

1,286,724

8

Cable

One,

Inc.

4,925

477

Electronic

Arts,

Inc.

57,431

81

John

Wiley

and

Sons,

Inc.

3,011

455

Liberty

Global

plc,

Class

C

a

8,445

1,699

Lumen

Technologies,

Inc.

a

2,413

272

New

York

Times

Company

11,206

372

Omnicom

Group,

Inc.

27,706

54

Scholastic

Corporation

2,060

7,756

Verizon

Communications,

Inc.

251,372

3,373

Walt

Disney

Company

a

273,382

4,255

Warner

Brothers

Discovery,

Inc.

a

46,209

483

ZoomInfo

Technologies,

Inc.

a

7,921

Total

3,417,947

Consumer

Discretionary

(9.9%)

522

Aptiv

plc

a

51,464

457

Aramark

15,858

154

Autoliv,

Inc.

14,858

55

AutoNation,

Inc.

a

8,327

362

Best

Buy

Company,

Inc.

25,148

68

Booking

Holdings,

Inc.

a

209,709

432

BorgWarner,

Inc.

17,440

57

Buckle,

Inc.

1,903

217

Capri

Holdings,

Ltd.

a

11,416

296

CarMax,

Inc.

a

20,936

64

Choice

Hotels

International,

Inc.

7,841

66

Columbia

Sportswear

Company

4,891

225

Darden

Restaurants,

Inc.

32,225

48

Deckers

Outdoor

Corporation

a

24,676

66

Domino's

Pizza,

Inc.

25,000

40

Ethan

Allen

Interiors,

Inc.

1,196

160

Foot

Locker,

Inc.

2,776

506

GameStop

Corporation

a,b

8,329

373

Gap,

Inc.

3,965

282

Garmin,

Ltd.

29,666

647

Hanesbrands,

Inc.

2,562

258

Harley-Davidson,

Inc.

8,530

242

Hasbro,

Inc.

16,006

490

Hilton

Worldwide

Holdings,

Inc.

73,588

1,856

Home

Depot,

Inc.

560,809

40

Jack

in

the

Box,

Inc.

2,762

215

Kohl's

Corporation

4,506

81

La-Z-Boy,

Inc.

2,501

493

LKQ

Corporation

24,409

1,082

Lowe's

Companies,

Inc.

224,883

1,679

Lucid

Group,

Inc.

a,b

9,386

476

Marriott

International,

Inc./MD

93,563

643

Mattel,

Inc.

a

14,165

1,347

McDonald's

Corporation

354,854

67

Meritage

Homes

Corporation

8,200

96

Mohawk

Industries,

Inc.

a

8,238

725

Newell

Brands,

Inc.

6,547

2,273

NIKE,

Inc.

217,344

202

Nordstrom,

Inc.

3,018

67

ODP

Corporation

a

3,092

72

Pool

Corporation

25,639

120

PVH

Corporation

9,181

1,187

Rivian

Automotive,

Inc.

a

28,820

423

Royal

Caribbean

Cruises,

Ltd.

a

38,975

79

Signet

Jewelers,

Ltd.

5,673

2,120

Starbucks

Corporation

193,492

5,266

Tesla,

Inc.

a

1,317,659

Shares

Common

Stock

(93.8%)

Value

Consumer

Discretionary

(9.9%)

-

continued

257

Topgolf

Callaway

Brands

Corporation

a

$

3,557

202

Tractor

Supply

Company

41,016

92

Ulta

Beauty,

Inc.

a

36,749

344

Under

Armour,

Inc.,

Class

A

a

2,356

377

Under

Armour,

Inc.,

Class

C

a

2,405

74

Vail

Resorts,

Inc.

16,420

613

VF

Corporation

10,832

100

Whirlpool

Corporation

13,370

149

Wolverine

World

Wide,

Inc.

1,201

Total

3,903,932

Consumer

Staples

(6.8%)

1,008

Archer-Daniels-Midland

Company

76,023

280

Bunge,

Ltd.

30,310

359

Campbell

Soup

Company

14,748

447

Church

&

Dwight

Company,

Inc.

40,959

226

Clorox

Company

29,620

7,587

Coca-Cola

Company

424,720

1,458

Colgate-Palmolive

Company

103,678

886

Conagra

Brands,

Inc.

24,294

300

Darling

Ingredients,

Inc.

a

15,660

427

Estee

Lauder

Companies,

Inc.

61,723

1,083

General

Mills,

Inc.

69,301

172

Hain

Celestial

Group,

Inc.

a

1,784

550

Hormel

Foods

Corporation

20,916

120

Ingredion,

Inc.

11,808

188

J.M.

Smucker

Company

23,107

506

Kellanova

30,112

1,686

Keurig

Dr.

Pepper,

Inc.

53,227

623

Kimberly-Clark

Corporation

75,290

1,586

Kraft

Heinz

Company

53,353

1,259

Kroger

Company

56,340

269

Lamb

Weston

Holdings,

Inc.

24,872

464

McCormick

&

Company,

Inc.

35,097

2,518

Mondelez

International,

Inc.

174,749

2,541

PepsiCo,

Inc.

430,547

4,352

Procter

&

Gamble

Company

634,783

936

Sysco

Corporation

61,823

850

Target

Corporation

93,985

103

United

Natural

Foods,

Inc.

a

1,456

Total

2,674,285

Energy

(1.6%)

1,859

Baker

Hughes

Company

65,660

449

Cheniere

Energy,

Inc.

74,516

87

Core

Laboratories,

Inc.

2,089

1,665

Halliburton

Company

67,432

278

HF

Sinclair

Corporation

15,827

783

Marathon

Petroleum

Corporation

118,499

715

NOV,

Inc.

14,943

1,075

ONEOK,

Inc.

68,187

850

Phillips

66

102,128

814

TechnipFMC

plc

16,557

667

Valero

Energy

Corporation

94,521

Total

640,359

Financials

(11.2%)

485

Allstate

Corporation

54,034

499

Ally

Financial,

Inc.

13,313

1,167

American

Express

Company

174,105

192

Ameriprise

Financial,

Inc.

63,299

395

Arthur

J.

Gallagher

&

Company

90,032

73

Bank

of

Hawaii

Corporation

3,627

ESG

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

95

Shares

Common

Stock

(93.8%)

Value

Financials

(11.2%)

-

continued

1,438

Bank

of

New

York

Mellon

Corporation

$

61,331

276

BlackRock,

Inc.

178,431

130

Cathay

General

Bancorp

4,519

2,772

Charles

Schwab

Corporation

152,183

764

Chubb,

Ltd.

159,050

893

Citizens

Financial

Group,

Inc.

23,932

664

CME

Group,

Inc.

132,946

241

Comerica,

Inc.

10,014

469

Discover

Financial

Services

40,630

662

Equitable

Holdings,

Inc.

18,794

70

FactSet

Research

Systems,

Inc.

30,608

1,096

Fidelity

National

Information

Services,

Inc.

60,576

558

Franklin

Resources,

Inc.

13,716

576

Hartford

Financial

Services

Group,

Inc.

40,844

2,666

Huntington

Bancshares,

Inc.

27,726

1,032

Intercontinental

Exchange,

Inc.

113,541

100

International

Bancshares

Corporation

4,334

637

Invesco,

Ltd.

9,249

1,718

KeyCorp

18,486

302

Lincoln

National

Corporation

7,456

362

Loews

Corporation

22,918

306

M&T

Bank

Corporation

38,694

70

MarketAxess

Holdings,

Inc.

14,955

913

Marsh

&

McLennan

Companies,

Inc.

173,744

1,562

Mastercard,

Inc.

618,411

305

Moody's

Corporation

96,432

2,314

Morgan

Stanley

188,984

638

Nasdaq,

Inc.

31,000

384

Northern

Trust

Corporation

26,680

545

Old

National

Bancorp

7,924

1,957

PayPal

Holdings,

Inc.

a

114,406

736

PNC

Financial

Services

Group,

Inc.

90,359

452

Principal

Financial

Group,

Inc.

32,576

1,081

Progressive

Corporation

150,583

677

Prudential

Financial,

Inc.

64,241

1,729

Regions

Financial

Corporation

29,739

605

S&P

Global,

Inc.

221,073

621

State

Street

Corporation

41,582

790

Synchrony

Financial

24,150

415

T.

Rowe

Price

Group,

Inc.

43,521

426

Travelers

Companies,

Inc.

69,570

2,450

Truist

Financial

Corporation

70,095

2,987

Visa,

Inc.

687,040

180

Voya

Financial,

Inc.

11,961

691

Western

Union

Company

9,107

196

Willis

Towers

Watson

plc

40,956

280

Zions

Bancorp

NA

9,769

Total

4,437,246

Health

Care

(10.4%)

3,257

AbbVie,

Inc.

485,488

544

Agilent

Technologies,

Inc.

60,830

134

Align

Technology,

Inc.

a

40,913

985

Amgen,

Inc.

264,729

524

Becton,

Dickinson

and

Company

135,470

267

Biogen,

Inc.

a

68,622

346

BioMarin

Pharmaceutical,

Inc.

a

30,614

288

Bio-Techne

Corporation

19,604

3,880

Bristol-Myers

Squibb

Company

225,195

Shares

Common

Stock

(93.8%)

Value

Health

Care

(10.4%)

-

continued

470

Cardinal

Health,

Inc.

$

40,805

317

Cencora,

Inc.

57,050

1,016

Centene

Corporation

a

69,982

546

Cigna

Group

156,194

91

Cooper

Companies,

Inc.

28,939

1,294

Danaher

Corporation

321,041

101

DaVita,

Inc.

a

9,548

392

Dentsply

Sirona,

Inc.

13,391

713

Dexcom,

Inc.

a

66,523

1,118

Edwards

Lifesciences

Corporation

a

77,455

438

Elevance

Health,

Inc.

190,714

2,304

Gilead

Sciences,

Inc.

172,662

381

HCA

Healthcare,

Inc.

93,718

242

Henry

Schein,

Inc.

a

17,968

454

Hologic,

Inc.

a

31,508

231

Humana,

Inc.

112,386

153

IDEXX

Laboratories,

Inc.

a

66,902

290

Illumina,

Inc.

a

39,811

129

Insulet

Corporation

a

20,574

343

IQVIA

Holding,

Inc.

a

67,485

118

Jazz

Pharmaceuticals,

Inc.

a

15,274

164

Laboratory

Corporation

of

America

Holdings

32,972

4,682

Merck

&

Company,

Inc.

482,012

41

Mettler-Toledo

International,

Inc.

a

45,431

160

Patterson

Companies,

Inc.

4,742

143

Pediatrix

Medical

Group,

Inc.

a

1,818

206

Quest

Diagnostics,

Inc.

25,103

270

ResMed,

Inc.

39,925

199

Select

Medical

Holdings

Corporation

5,029

183

STERIS

plc

40,154

296

Teladoc

Health,

Inc.

a

5,503

474

Vertex

Pharmaceuticals,

Inc.

a

164,829

109

Waters

Corporation

a

29,889

136

West

Pharmaceutical

Services,

Inc.

51,029

387

Zimmer

Biomet

Holdings,

Inc.

43,429

853

Zoetis,

Inc.

148,405

Total

4,121,665

Industrials

(8.7%)

1,021

3M

Company

95,586

234

A.O.

Smith

Corporation

15,474

158

ACCO

Brands

Corporation

907

60

Acuity

Brands,

Inc.

10,219

117

AGCO

Corporation

13,839

198

Air

Lease

Corporation

7,803

161

Allegion

plc

16,776

72

Applied

Industrial

Technologies,

Inc.

11,132

47

ArcBest

Corporation

4,778

94

ASGN,

Inc.

a

7,678

764

Automatic

Data

Processing,

Inc.

183,803

40

Avis

Budget

Group,

Inc.

a

7,188

217

Broadridge

Financial

Solutions,

Inc.

38,854

237

Builders

FirstSource,

Inc.

a

29,504

217

C.H.

Robinson

Worldwide,

Inc.

18,690

1,546

Carrier

Global

Corporation

85,339

951

Caterpillar,

Inc.

259,623

1,586

Copart,

Inc.

a

68,341

3,779

CSX

Corporation

116,204

260

Cummins,

Inc.

59,400

514

Deere

&

Company

193,973

ESG

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

96

Shares

Common

Stock

(93.8%)

Value

Industrials

(8.7%)

-

continued

293

Delta

Air

Lines,

Inc.

$

10,841

76

Deluxe

Corporation

1,436

259

Dover

Corporation

36,133

736

Eaton

Corporation

plc

156,974

88

EMCOR

Group,

Inc.

18,514

285

Expeditors

International

of

Washington,

Inc.

32,670

97

Exponent,

Inc.

8,303

1,060

Fastenal

Company

57,918

379

Ferguson

plc

62,334

240

Flowserve

Corporation

9,545

652

Fortive

Corporation

48,352

234

Fortune

Brands

Innovations,

Inc.

14,545

312

Graco,

Inc.

22,739

85

Granite

Construction,

Inc.

3,232

34

Heidrick

&

Struggles

International,

Inc.

851

78

HNI

Corporation

2,701

36

ICF

International,

Inc.

4,349

140

IDEX

Corporation

29,123

562

Illinois

Tool

Works,

Inc.

129,434

748

Ingersoll

Rand,

Inc.

47,663

107

Interface,

Inc.

1,050

153

JB

Hunt

Transport

Services,

Inc.

28,844

1,265

Johnson

Controls

International

plc

67,311

59

Kelly

Services,

Inc.

1,073

297

Knight-Swift

Transportation

Holdings,

Inc.

14,895

60

Lennox

International,

Inc.

22,466

106

Lincoln

Electric

Holdings,

Inc.

19,270

95

ManpowerGroup,

Inc.

6,965

414

Masco

Corporation

22,128

370

MDU

Resources

Group,

Inc.

7,245

99

Middleby

Corporation

a

12,672

420

Norfolk

Southern

Corporation

82,711

167

Owens

Corning,

Inc.

22,780

965

PACCAR,

Inc.

82,044

237

Parker-Hannifin

Corporation

92,316

96

Paycom

Software,

Inc.

24,890

307

Pentair

plc

19,878

268

Quanta

Services,

Inc.

50,135

57

Resources

Connection,

Inc.

850

201

Robert

Half,

Inc.

14,729

212

Rockwell

Automation,

Inc.

60,604

86

Ryder

System,

Inc.

9,198

289

Sensata

Technologies

Holding

plc

10,930

98

Snap-On,

Inc.

24,996

274

Southwest

Airlines

Company

7,417

282

Stanley

Black

&

Decker,

Inc.

23,570

143

Steelcase,

Inc.

1,597

33

Tennant

Company

2,447

99

Tetra

Tech,

Inc.

15,051

121

Timken

Company

8,892

421

Trane

Technologies

plc

85,425

353

TransUnion

25,342

62

TrueBlue,

Inc.

a

909

179

U-Haul

Holding

Company

9,378

1,126

Union

Pacific

Corporation

229,287

1,338

United

Parcel

Service,

Inc.

208,554

127

United

Rentals,

Inc.

56,460

83

W.W.

Grainger,

Inc.

57,423

332

Wabtec

Corporation

35,282

442

Xylem,

Inc.

40,235

Total

3,450,017

Shares

Common

Stock

(93.8%)

Value

Information

Technology

(30.2%)

1,164

Accenture

plc

$

357,476

841

Adobe,

Inc.

a

428,826

2,973

Advanced

Micro

Devices,

Inc.

a

305,684

281

Akamai

Technologies,

Inc.

a

29,938

926

Analog

Devices,

Inc.

162,133

160

ANSYS,

Inc.

a

47,608

1,550

Applied

Materials,

Inc.

214,597

280

Atlassian

Corporation

a

56,423

396

Autodesk,

Inc.

a

81,936

504

Cadence

Design

Systems,

Inc.

a

118,087

7,523

Cisco

Systems,

Inc.

404,436

323

Cognex

Corporation

13,708

940

Cognizant

Technology

Solutions

Corporation

63,676

377

CommScope

Holding

Company,

Inc.

a

1,267

1,482

Corning,

Inc.

45,157

479

Dell

Technologies,

Inc.

33,003

112

F5,

Inc.

a

18,048

46

Fair

Isaac

Corporation

a

39,952

187

First

Solar,

Inc.

a

30,217

819

Flex,

Ltd.

a

22,097

1,231

Fortinet,

Inc.

a

72,235

1,061

Gen

Digital,

Inc.

18,758

145

Guidewire

Software,

Inc.

a

13,050

2,394

Hewlett

Packard

Enterprise

Company

41,584

1,636

HP,

Inc.

42,045

87

HubSpot,

Inc.

a

42,847

7,694

Intel

Corporation

273,522

1,676

International

Business

Machines

Corporation

235,143

517

Intuit,

Inc.

264,156

82

Itron,

Inc.

a

4,968

329

Keysight

Technologies,

Inc.

a

43,530

248

Lam

Research

Corporation

155,439

1,005

Microchip

Technology,

Inc.

78,440

13,040

Microsoft

Corporation

4,117,380

309

Motorola

Solutions,

Inc.

84,122

4,560

NVIDIA

Corporation

1,983,554

479

NXP

Semiconductors

NV

95,762

284

Okta,

Inc.

a

23,149

798

ON

Semiconductor

Corporation

a

74,174

3,006

Oracle

Corporation

318,396

206

PTC,

Inc.

a

29,186

143

RingCentral,

Inc.

a

4,237

197

Roper

Industries,

Inc.

95,403

1,798

Salesforce,

Inc.

a

364,598

343

Seagate

Technology

Holdings

plc

22,621

376

ServiceNow,

Inc.

a

210,169

297

Skyworks

Solutions,

Inc.

29,281

290

Splunk,

Inc.

a

42,413

281

Synopsys,

Inc.

a

128,971

584

TE

Connectivity,

Ltd.

72,142

189

Teradata

Corporation

a

8,509

1,676

Texas

Instruments,

Inc.

266,501

455

Trimble,

Inc.

a

24,506

317

Twilio,

Inc.

a

18,554

435

VMware,

Inc.

a

72,419

380

Workday,

Inc.

a

81,643

216

Xerox

Holdings

Corporation

3,389

95

Zebra

Technologies

Corporation

a

22,470

Total

11,953,535

ESG

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

97

Shares

Common

Stock

(93.8%)

Value

Materials

(2.6%)

410

Air

Products

and

Chemicals,

Inc.

$

116,194

216

Albemarle

Corporation

36,729

149

Avery

Dennison

Corporation

27,218

415

Axalta

Coating

Systems,

Ltd.

a

11,163

577

Ball

Corporation

28,723

63

Compass

Minerals

International,

Inc.

1,761

471

Ecolab,

Inc.

79,787

98

H.B.

Fuller

Company

6,724

470

International

Flavors

&

Fragrances,

Inc.

32,040

612

International

Paper

Company

21,708

905

Linde

plc

336,977

480

LyondellBasell

Industries

NV

45,456

63

Minerals

Technologies,

Inc.

3,450

613

Mosaic

Company

21,823

1,458

Newmont

Corporation

53,873

435

PPG

Industries,

Inc.

56,463

43

Schnitzer

Steel

Industries,

Inc.

1,197

267

Sealed

Air

Corporation

8,773

453

Sherwin-Williams

Company

115,538

184

Sonoco

Products

Company

10,000

Total

1,015,597

Real

Estate

(2.7%)

860

American

Tower

Corporation

141,427

211

Anywhere

Real

Estate,

Inc.

a

1,357

262

AvalonBay

Communities,

Inc.

44,996

273

Boston

Properties,

Inc.

16,238

573

CBRE

Group,

Inc.

a

42,322

206

COPT

Defense

Properties

4,909

800

Crown

Castle,

Inc.

73,624

537

Digital

Realty

Trust,

Inc.

64,988

173

Equinix,

Inc.

125,643

663

Equity

Residential

38,925

134

Federal

Realty

Investment

Trust

12,144

996

Healthpeak

Properties,

Inc.

18,286

1,306

Host

Hotels

&

Resorts,

Inc.

20,987

534

Iron

Mountain,

Inc.

31,746

88

Jones

Lang

LaSalle,

Inc.

a

12,424

383

Macerich

Company

4,178

148

PotlatchDeltic

Corporation

6,718

1,705

Prologis,

Inc.

191,318

199

SBA

Communications

Corporation

39,834

604

Simon

Property

Group,

Inc.

65,250

577

UDR,

Inc.

20,582

736

Ventas,

Inc.

31,008

916

Welltower,

Inc.

75,039

Total

1,083,943

Utilities

(1.0%)

359

American

Water

Works

Company,

Inc.

44,455

267

Atmos

Energy

Corporation

28,283

134

Avista

Corporation

4,337

538

CMS

Energy

Corporation

28,573

639

Consolidated

Edison,

Inc.

54,654

460

Essential

Utilities,

Inc.

15,792

643

Eversource

Energy

37,390

1,835

Exelon

Corporation

69,345

176

New

Jersey

Resources

Corporation

7,151

99

Ormat

Technologies,

Inc.

6,922

1,162

Sempra

79,051

Shares

Common

Stock

(93.8%)

Value

Utilities

(1.0%)

-

continued

388

UGI

Corporation

$

8,924

Total

384,877

Total

Common

Stock

(cost

$34,766,647)

37,083,403

Shares

Registered

Investment

Companies

(

5.7%

)

Value

U.S.

Unaffiliated  (5.7%)

27,459

iShares

MSCI

KLD

400

Social

ETF

2,235,437

Total

2,235,437

Total

Registered

Investment

Companies

(cost

$2,133,593)

2,235,437

Shares

Collateral

Held

for

Securities

Loaned

(

<0.1%

)

Value

15,525

Thrivent

Cash

Management

Trust

15,525

Total

Collateral

Held

for

Securities

Loaned

(cost

$15,525)

15,525

Shares

or

Principal

Amount

Short-Term

Investments

(

1.3%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

100,000

5.300%,

12/6/2023

c,d

99,075

Thrivent

Core

Short-Term

Reserve

Fund

39,832

5.650%

398,321

Total

Short-Term

Investments

(cost

$497,334)

497,396

Total

Investments

(cost

$37,413,099)

100.8%

$39,831,761

Other

Assets

and

Liabilities,

Net

(0.8%)

(301,477)

Total

Net

Assets

100.0%

$39,530,284

a

Non-income

producing

security.

b

All

or

a

portion

of

the

security

is

on

loan.

c

The

interest

rate

shown

reflects

the

yield.

d

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

ESG

Index

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Common

Stock

$

14,969

Total

lending

$14,969

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$15,525

Net

amounts

due

to

counterparty

$556

ESG

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

98

Definitions:

ETF

-

Exchange

Traded

Fund

plc

-

Public

Limited

Company

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

ESG

Index

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

3,417,947

3,417,947

–

–

Consumer

Discretionary

3,903,932

3,903,932

–

–

Consumer

Staples

2,674,285

2,674,285

–

–

Energy

640,359

640,359

–

–

Financials

4,437,246

4,437,246

–

–

Health

Care

4,121,665

4,121,665

–

–

Industrials

3,450,017

3,450,017

–

–

Information

Technology

11,953,535

11,953,535

–

–

Materials

1,015,597

1,015,597

–

–

Real

Estate

1,083,943

1,083,943

–

–

Utilities

384,877

384,877

–

–

Registered

Investment

Companies

U.S.

Unaffiliated

2,235,437

2,235,437

–

–

Short-Term

Investments

99,075

–

99,075

–

Subtotal

Investments

in

Securities

$39,417,915

$39,318,840

$99,075

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

398,321

Collateral

Held

for

Securities

Loaned

15,525

Subtotal

Other

Investments

$413,846

Total

Investments

at

Value

$39,831,761

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

ESG

Index

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Liability

Derivatives

Futures

Contracts

16,239

16,239

–

–

Total

Liability

Derivatives

$16,239

$16,239

$–

$–

ESG

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

99

Reference

Description:

CME

-

Chicago

Mercantile

Exchange

S&P

-

Standard

&

Poor's

The

following

table

presents

ESG

Index

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$99,075

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CME

Micro

E-mini

S&P

500

Index

18

December

2023

$

405,534

(

$

16,239)

Total

Futures

Long

Contracts

$

405,534

(

$

16,239)

Total

Futures

Contracts

$

405,534

($16,239)

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

ESG

Index

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$6,263

$5,865

$398

40

1.0%

Total

Affiliated

Short-Term

Investments

–

398

1.0

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

8

137

129

16

16

<0.1

Total

Collateral

Held

for

Securities

Loaned

8

16

<0.1

Total

Value

$8

$414

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$9

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$9

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

0

Total

Affiliated

Income

from

Securities

Loaned,

Net

$0

Total

Value

$–

$–

$

–

Global

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

100

Shares

Common

Stock

(

75

.1

%

)

Value

Communications

Services

(4.9%)

168,264

Alphabet,

Inc.,

Class

C

a

$

22,185,608

11,118

Altice

USA,

Inc.

a

36,356

5,758

AMC

Networks,

Inc.

a

67,829

261,370

Auto

Trader

Group

plc

b

1,963,939

2,302

Bumble,

Inc.

a

34,346

40

Cable

One,

Inc.

24,626

27,666

Cargurus,

Inc.

a

484,708

15,596

Carsales.com,

Ltd.

279,393

5,000

Cogeco

Communications,

Inc.

231,438

94,871

Comcast

Corporation

4,206,580

36,669

Deutsche

Telekom

AG

769,199

407

Electronic

Arts,

Inc.

49,003

3,457

Emerald

Holding,

Inc.

a

15,626

2,229

Entravision

Communications

Corporation

8,136

8,310

Frontier

Communications

Parent,

Inc.

a

130,052

14,007

iHeartMedia,

Inc.

a

44,262

32,906

Imax

Corporation

a

635,744

11,494

Integral

Ad

Science

Holding

Corporation

a

136,664

3,718

Interpublic

Group

of

Companies,

Inc.

106,558

7,698

Ipsos

SA

353,650

79,300

KDDI

Corporation

2,427,411

9,248

Liberty

Global

plc,

Class

A

a

158,326

24,704

Liberty

Global

plc,

Class

C

a

458,506

5,100

Liberty

Latin

America,

Ltd.,

Class

A

a

41,616

2,827

Live

Nation

Entertainment,

Inc.

a

234,754

75,371

Lumen

Technologies,

Inc.

a,c

107,027

2,112

Match

Group,

Inc.

a

82,738

39,460

Meta

Platforms,

Inc.

a

11,846,287

736,701

MFE-MediaForEurope

NV

311,395

91,986

Moneysupermarket.com

Group

plc

272,277

7,408

Netflix,

Inc.

a

2,797,261

47,300

Nintendo

Company,

Ltd.

1,965,455

51,100

Nippon

Television

Holdings,

Inc.

516,680

685

Omnicom

Group,

Inc.

51,019

15,169

Publicis

Groupe

SA

1,148,182

40,169

QuinStreet,

Inc.

a

360,316

235

REA

Group,

Ltd.

23,209

40,778

Rightmove

plc

278,283

11,305

Rogers

Communications,

Inc.

434,055

6,097

Scout24

SE

b

422,757

37,179

SEEK,

Ltd.

525,231

716

Shutterstock,

Inc.

27,244

2,580

Sinclair,

Inc.

28,948

43,900

SoftBank

Group

Corporation

1,849,311

1,923

TechTarget,

Inc.

a

58,382

4,440

Telephone

and

Data

Systems,

Inc.

81,296

10,559

Trade

Desk,

Inc.

a

825,186

1,062

Tripadvisor,

Inc.

a

17,608

43,700

TV

Asahi

Holdings

Corporation

493,829

123,308

Verizon

Communications,

Inc.

3,996,412

206,527

Warner

Brothers

Discovery,

Inc.

a

2,242,883

6,685

WPP

plc

59,559

154

Yelp,

Inc.

a

6,405

14,592

Ziff

Davis,

Inc.

a

929,364

Total

66,842,929

Consumer

Discretionary

(8.5%)

4,474

2U,

Inc.

a

11,051

117

Adient

plc

a

4,294

12,632

Amadeus

IT

Holding

SA

763,007

Shares

Common

Stock

(75.1%)

Value

Consumer

Discretionary

(8.5%)

-

continued

124,125

Amazon.com,

Inc.

a

$

15,778,770

856

American

Axle

&

Manufacturing

Holdings,

Inc.

a

6,215

11,635

American

Eagle

Outfitters,

Inc.

193,257

39,835

Aptiv

plc

a

3,927,333

106,487

Aristocrat

Leisure,

Ltd.

2,782,129

4,925

Autoliv,

Inc.

475,164

79

AutoNation,

Inc.

a

11,961

119,661

B&M

European

Value

Retail

SA

853,527

13,106

Bayerische

Motoren

Werke

AG

1,331,140

1,300

Beazer

Homes

USA,

Inc.

a

32,383

16,700

Benesse

Holdings,

Inc.

204,249

1,463

Best

Buy

Company,

Inc.

101,635

1,153

Booking

Holdings,

Inc.

a

3,555,794

5,672

Boot

Barn

Holdings,

Inc.

a

460,510

785

BRP,

Inc.

59,419

1,310

Brunswick

Corporation

103,490

2,791

Buckle,

Inc.

93,191

10,440

Cedar

Fair,

LP

386,280

14,098

Cheesecake

Factory,

Inc.

427,169

571

Chegg,

Inc.

a

5,093

608

Chipotle

Mexican

Grill,

Inc.

a

1,113,753

14,100

Chiyoda

Company,

Ltd.

86,465

44,292

Clarus

Corporation

334,847

4,434

Columbia

Sportswear

Company

328,559

11,826

Compagnie

Financiere

Richemont

SA

1,440,209

43,299

Compass

Group

plc

1,053,973

3,942

Container

Store

Group,

Inc.

a

8,869

1,510

Culp,

Inc.

a

8,426

26,557

D.R.

Horton,

Inc.

2,854,081

11,210

Dana,

Inc.

164,451

1,920

Darden

Restaurants,

Inc.

274,982

1,565

Deckers

Outdoor

Corporation

a

804,551

3,600

Denso

Corporation

a

57,765

7,865

Domino's

Pizza

Group

plc

36,120

7,031

Domino's

Pizza,

Inc.

2,663,272

374

Dorman

Products,

Inc.

a

28,334

18,511

eBay,

Inc.

816,150

1,540

Etsy,

Inc.

a

99,453

55,916

Everi

Holdings,

Inc.

a

739,209

978

Expedia

Group,

Inc.

a

100,802

1,900

Fast

Retailing

Company,

Ltd.

413,849

5,309

Ferrari

NV

1,565,016

8,795

Five

Below,

Inc.

a

1,415,115

1,224

Flutter

Entertainment

plc

a

199,672

10,779

Fox

Factory

Holding

Corporation

a

1,067,983

10,263

Gap,

Inc.

109,096

6,369

Gentex

Corporation

207,247

6,601

Goodyear

Tire

&

Rubber

Company

a

82,050

2,086

Green

Brick

Partners,

Inc.

a

86,590

9,066

Harley-Davidson,

Inc.

299,722

4,600

Heiwa

Corporation

66,018

1,207

Hermes

International

SCA

2,200,154

2,693

Hilton

Worldwide

Holdings,

Inc.

404,435

17,950

Home

Depot,

Inc.

5,423,772

116,100

Honda

Motor

Company,

Ltd.

a

1,306,090

185

Hyatt

Hotels

Corporation

19,625

76,614

Industria

de

Diseno

Textil

SA

2,850,965

29,511

InterContinental

Hotels

Group

plc

2,182,480

12,424

JB

Hi-Fi,

Ltd.

360,862

758

KB

Home

35,080

243

La

Francaise

des

Jeux

SAEM

b

7,893

11,707

Laureate

Education,

Inc.

165,069

Global

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

101

Shares

Common

Stock

(75.1%)

Value

Consumer

Discretionary

(8.5%)

-

continued

1,640

La-Z-Boy,

Inc.

$

50,643

8,314

Lear

Corporation

1,115,739

1,190

Lennar

Corporation

133,554

453,207

Lottery

Corporation,

Ltd.

1,369,597

23,788

Lowe's

Companies,

Inc.

4,944,098

1,752

Lululemon

Athletica,

Inc.

a

675,589

3,645

LVMH

Moet

Hennessy

Louis

Vuitton

SE

2,751,358

1,078

M/I

Homes,

Inc.

a

90,595

116

Malibu

Boats,

Inc.

a

5,686

135

Marriott

Vacations

Worldwide

Corporation

13,585

12,700

Mazda

Motor

Corporation

144,202

700

McDonald's

Holdings

Company

(Japan),

Ltd.

26,747

6,781

Mercedes-Benz

Group

AG

471,936

2,705

Meritage

Homes

Corporation

331,065

5,181

MGM

Resorts

International

190,454

341

Modine

Manufacturing

Company

a

15,601

5,252

Mohawk

Industries,

Inc.

a

450,674

18,403

Moncler

SPA

1,066,546

7,743

Next

plc

686,743

23,200

Nikon

Corporation

244,340

177,400

Nissan

Motor

Company,

Ltd.

782,909

10,200

Nitori

Holdings

Company,

Ltd.

1,137,254

8,918

Nordstrom,

Inc.

c

133,235

135

NVR,

Inc.

a

805,045

1,122

ODP

Corporation

a

51,780

3,428

O'Reilly

Automotive,

Inc.

a

3,115,572

61,000

Oriental

Land

Company,

Ltd.

2,001,267

26,700

Pan

Pacific

International

Holdings

Company

560,352

2,942

Pandora

AS

303,589

7,343

Papa

John's

International,

Inc.

500,939

2,805

PENN

Entertainment,

Inc.

a

64,375

17,095

Pets

at

Home

Group

plc

69,476

2,899

Playa

Hotels

and

Resorts

NV

a

20,989

2,842

Polaris,

Inc.

295,966

2,192

Pool

Corporation

780,571

4,902

Premier

Investments,

Ltd.

78,189

1,572

PulteGroup,

Inc.

116,407

9,415

PUMA

SE

582,152

31,694

Qurate

Retail,

Inc.

a

19,226

3,590

Ross

Stores,

Inc.

405,490

7,000

Sangetsu

Company,

Ltd.

136,382

4,708

SeaWorld

Entertainment,

Inc.

a

217,745

14,328

Six

Flags

Entertainment

Corporation

a

336,851

4,880

Skyline

Champion

Corporation

a

310,954

20,300

Sony

Group

Corporation

1,660,044

34,779

Sony

Group

Corporation

ADR

2,866,137

134,052

Stellantis

NV

2,566,886

22,775

Stoneridge,

Inc.

a

457,094

9,323

Tapestry,

Inc.

268,036

398

Taylor

Morrison

Home

Corporation

a

16,959

26,242

Tesla,

Inc.

a

6,566,273

29,233

ThredUp,

Inc.

a

117,224

282

TopBuild

Corporation

a

70,951

297,400

Toyota

Motor

Corporation

5,335,454

7,422

Travel

+

Leisure

Company

272,610

10

Ulta

Beauty,

Inc.

a

3,994

3,660

Upbound

Group,

Inc.

107,787

3,649

Urban

Outfitters,

Inc.

a

119,286

119

Vail

Resorts,

Inc.

26,405

297

Visteon

Corporation

a

41,007

Shares

Common

Stock

(75.1%)

Value

Consumer

Discretionary

(8.5%)

-

continued

10,395

Wendy's

Company

$

212,162

26,257

Wesfarmers,

Ltd.

888,642

4,701

Whitbread

plc

197,880

2,269

Wingstop,

Inc.

408,057

7,829

Wyndham

Hotels

&

Resorts,

Inc.

544,429

4,600

Zensho

Holdings

Company,

Ltd.

199,753

28,600

ZOZO,

Inc.

523,700

Total

116,126,352

Consumer

Staples

(4.3%)

6,100

Ain

Holdings,

Inc.

179,837

10,300

Arcs

Company,

Ltd.

187,640

29,024

BJ's

Wholesale

Club

Holdings,

Inc.

a

2,071,443

314

Boston

Beer

Company,

Inc.

a

122,312

811

Cal-Maine

Foods,

Inc.

39,269

8,972

Carlsberg

AS

1,131,235

3,204

Casey's

General

Stores,

Inc.

869,950

7,796

Celsius

Holdings,

Inc.

a

1,337,794

9,007

Coca-Cola

European

Partners

plc

562,757

4,130

Coca-Cola

HBC

AG

112,930

81,416

Coles

Group,

Ltd.

812,602

224,343

Coty,

Inc.

a

2,461,043

1,033

Darling

Ingredients,

Inc.

a

53,923

63,665

Diageo

plc

2,347,223

4,995

Dollar

Tree,

Inc.

a

531,718

7,566

e.l.f.

Beauty,

Inc.

a

830,974

9,040

Flowers

Foods,

Inc.

200,507

20,407

ForFarmers

NV

53,377

3,074

George

Weston,

Ltd.

340,907

9,789

GrainCorp,

Ltd.

44,234

631

Hain

Celestial

Group,

Inc.

a

6,543

189

Hershey

Company

37,815

4,203

Hormel

Foods

Corporation

159,840

80,795

Imperial

Brands

plc

1,639,052

843

Ingredion,

Inc.

82,951

2,922

J

&

J

Snack

Foods

Corporation

478,185

69,500

Japan

Tobacco,

Inc.

1,599,059

86,330

Kenvue,

Inc.

1,733,506

11,083

Kesko

Oyj

198,566

121,556

Koninklijke

Ahold

Delhaize

NV

3,663,660

3,156

Kroger

Company

141,231

34,622

Lamb

Weston

Holdings,

Inc.

3,201,150

5,970

Lancaster

Colony

Corporation

985,229

49

Lindt

&

Spruengli

AG

544,515

8,308

Loblaw

Companies,

Ltd.

705,867

21,840

Metro,

Inc./CN

1,134,249

4,800

Ministop

Company,

Ltd.

47,076

46,499

Nestle

SA

5,263,502

56,649

Philip

Morris

International,

Inc.

5,244,564

339

PriceSmart,

Inc.

25,232

5,257

Reckitt

Benckiser

Group

plc

370,730

51

Seneca

Foods

Corporation

a

2,745

1,943

Simply

Good

Foods

Company

a

67,072

870

SpartanNash

Company

19,140

50,500

Sysco

Corporation

3,335,525

145,821

Tesco

plc

469,034

18,417

Turning

Point

Brands,

Inc.

425,249

766

Tyson

Foods,

Inc.

38,675

31,703

Unilever

plc

1,569,533

61,362

US

Foods

Holding

Corporation

a

2,436,071

56,087

Walmart,

Inc.

8,969,994

12,200

Yakult

Honsha

Company,

Ltd.

a

296,301

Total

59,183,536

Global

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

102

Shares

Common

Stock

(75.1%)

Value

Energy

(4.8%)

3,093

Ampol,

Ltd.

$

66,778

7,140

APA

Corporation

293,454

368,179

BP

plc

2,373,272

68,524

BP

plc

ADR

2,653,249

1,031

Cactus,

Inc.

51,767

1,339

California

Resources

Corporation

74,997

401

Cheniere

Energy,

Inc.

66,550

691

Chord

Energy

Corporation

111,990

131

Civitas

Resources,

Inc.

10,594

637

Comstock

Resources,

Inc.

7,026

45,724

ConocoPhillips

5,477,735

1,178

CVR

Energy,

Inc.

40,087

37,781

Devon

Energy

Corporation

1,802,154

14,587

Enbridge,

Inc.

483,817

474,500

Eneos

Holdings,

Inc.

1,867,697

160,251

Enterprise

Products

Partners,

LP

4,386,070

54,637

Equinor

ASA

1,790,567

832

Evolution

Petroleum

Corporation

5,691

45,166

Exxon

Mobil

Corporation

5,310,618

2,064

Gran

Tierra

Energy,

Inc.

a

14,324

106,648

Halliburton

Company

4,319,244

7,143

Helmerich

&

Payne,

Inc.

301,149

3,336

HF

Sinclair

Corporation

189,919

10,572

Imperial

Oil,

Ltd.

651,171

5,584

International

Seaways,

Inc.

251,280

9,216

Koninklijke

Vopak

NV

315,242

18,601

Liberty

Energy,

Inc.

344,491

3,059

Magnolia

Oil

&

Gas

Corporation

70,082

3,846

Marathon

Oil

Corporation

102,881

22,121

Marathon

Petroleum

Corporation

3,347,792

14,987

Matador

Resources

Company

891,427

3,861

Murphy

Oil

Corporation

175,096

13,972

Noble

Corporation

plc

707,682

8,294

NOV,

Inc.

173,345

19,731

OMV

AG

942,443

746

ONEOK,

Inc.

47,319

4,980

Ovintiv,

Inc.

236,899

6,543

Par

Pacific

Holdings,

Inc.

a

235,155

1,766

Patterson-UTI

Energy,

Inc.

24,441

3,316

PBF

Energy,

Inc.

177,506

6,085

Phillips

66

731,113

25,728

Pioneer

Natural

Resources

Company

5,905,862

20,802

ProPetro

Holding

Corporation

a

221,125

176,841

Repsol

SA

2,908,860

9,279

RPC,

Inc.

82,954

190,435

Shell

plc

6,035,726

5,544

SM

Energy

Company

219,820

1,151

Solaris

Oilfield

Infrastructure,

Inc.

12,270

13,354

Talos

Energy,

Inc.

a

219,540

65,782

TC

Energy

Corporation

2,262,232

73,359

TechnipFMC

plc

1,492,122

69,870

Tenaris

SA

ADR

2,207,892

1,480

TORM

plc

40,056

7,430

TotalEnergies

SE

488,518

38,534

Tourmaline

Oil

Corporation

1,939,112

6,359

U.S.

Silica

Holdings,

Inc.

a

89,280

9,006

Viper

Energy

Partners,

LP

251,087

4,592

Williams

Companies,

Inc.

154,704

Total

65,655,274

Financials

(12.5%)

9,024

3i

Group

plc

227,141

27,799

AB

Industrivarden,

Class

A

733,038

26,725

AB

Industrivarden,

Class

C

704,233

Shares

Common

Stock

(75.1%)

Value

Financials

(12.5%)

-

continued

5,549

Allianz

SE

$

1,320,530

22,790

Allstate

Corporation

2,539,034

4,193

Amalgamated

Financial

Corporation

72,203

1,369

Amerant

Bancorp,

Inc.

23,875

16,634

American

Express

Company

2,481,626

1,120

American

Financial

Group,

Inc.

125,070

49,920

American

International

Group,

Inc.

3,025,152

7,286

Ameriprise

Financial,

Inc.

2,402,048

417

Ameris

Bancorp

16,009

5,970

Annaly

Capital

Management,

Inc.

112,296

61

Apollo

Global

Management,

Inc.

5,475

4,231

Arthur

J.

Gallagher

&

Company

964,372

1,978

Artisan

Partners

Asset

Management,

Inc.

74,017

5,796

Associated

Banc-Corp

99,170

550

Assurant,

Inc.

78,969

1,371

Assured

Guaranty,

Ltd.

82,973

298

Atlantic

Union

Bankshares

Corporation

8,576

1,855

AURELIUS

Equity

Opportunities

SE

&

Company

KGaA

24,711

82,344

Australia

and

New

Zealand

Banking

Group,

Ltd.

1,350,580

525

Axis

Capital

Holdings,

Ltd.

29,594

213

Axos

Financial,

Inc.

a

8,064

10,347

Azimut

Holding

SPA

225,167

4,958

Banc

of

California,

Inc.

61,380

1,435

Banca

Farmafactoring

SPA

b

14,315

53,811

Banca

Mediolanum

SPA

458,545

16,726

Banca

Popolare

di

Sondrio

SPA

85,841

307,734

Banco

Bilbao

Vizcaya

Argentaria

SA

2,490,470

444,289

Banco

Santander

SA

1,691,883

58,616

Bank

Hapoalim

BM

522,245

68,847

Bank

Leumi

Le-Israel

BM

570,456

153,628

Bank

of

America

Corporation

4,206,335

740

Bank

of

Hawaii

Corporation

36,771

2,673

Bank

of

Marin

Bancorp

48,862

11,900

Bank

of

Montreal

1,003,867

83,746

Bank

of

New

York

Mellon

Corporation

3,571,767

27,080

Bank

of

Nova

Scotia

1,213,790

1,272

Bank

OZK

47,153

1,466

BankFinancial

Corporation

12,637

3,476

BankUnited,

Inc.

78,905

2,594

Banner

Corporation

109,934

248,744

Barclays

plc

479,439

4,937

BAWAG

Group

AG

b

225,651

471

BayCom

Corporation

9,048

2,759

BCB

Bancorp,

Inc.

30,735

3,180

Berkshire

Hills

Bancorp,

Inc.

63,759

1,928

Block,

Inc.

a

85,333

222,000

BOC

Hong

Kong

(Holdings),

Ltd.

606,031

175

BOK

Financial

Corporation

13,996

2,763

Brighthouse

Financial,

Inc.

a

135,221

4,590

Brookline

Bancorp,

Inc.

41,815

2,127

Business

First

Bancshares,

Inc.

39,903

2,233

Cadence

Bank

47,384

25,741

Canadian

Imperial

Bank

of

Commerce

993,632

11,660

Canadian

Western

Bank

241,570

24,673

Capital

One

Financial

Corporation

2,394,515

39,405

Carlyle

Group,

Inc.

1,188,455

391

Cathay

General

Bancorp

13,591

2,850

Cboe

Global

Markets,

Inc.

445,198

Global

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

103

Shares

Common

Stock

(75.1%)

Value

Financials

(12.5%)

-

continued

5,740

Central

Pacific

Financial

Corporation

$

95,743

252

Central

Valley

Community

Bancorp

3,556

33,684

Charles

Schwab

Corporation

1,849,252

14,221

Chubb,

Ltd.

2,960,528

3,681

Cincinnati

Financial

Corporation

376,529

4,759

Citizens

Financial

Group,

Inc.

127,541

2,336

CNB

Financial

Corporation

42,305

7,054

Columbia

Banking

System,

Inc.

143,196

61,293

Comerica,

Inc.

2,546,724

1,756

Commerce

Bancshares,

Inc.

84,253

328

Community

Bank

System,

Inc.

13,845

1,885

Community

Trust

Bancorp,

Inc.

64,580

2,051

ConnectOne

Bancorp,

Inc.

36,569

76,784

Credit

Agricole

SA

944,045

910

CrossFirst

Bankshares,

Inc.

a

9,182

928

Cullen/Frost

Bankers,

Inc.

84,643

1,910

Customers

Bancorp,

Inc.

a

65,799

1,304

CVB

Financial

Corporation

21,607

27,914

Danske

Bank

AS

647,772

137,200

DBS

Group

Holdings,

Ltd.

3,369,584

90,537

Deutsche

Bank

AG

995,027

7,736

Deutsche

Boerse

AG

1,335,982

4,721

Dime

Community

Bancshares,

Inc.

94,231

18,143

Discover

Financial

Services

1,571,728

93,205

DNB

Bank

ASA

1,872,654

4,310

Eagle

Bancorp,

Inc.

92,449

3,207

East

West

Bancorp,

Inc.

169,041

10,831

Eastern

Bankshares,

Inc.

135,821

2,034

Edenred

SE

127,239

1,142

Employers

Holdings,

Inc.

45,623

2,131

Enova

International,

Inc.

a

108,404

1,971

Enterprise

Financial

Services

Corporation

73,912

20,357

Equitable

Holdings,

Inc.

577,935

1,124

Equity

Bancshares,

Inc.

27,055

683

Euronet

Worldwide,

Inc.

a

54,217

13,564

Euronext

NV

b

943,501

114

EVERTEC,

Inc.

4,239

2,796

EXOR

NV

247,302

4,572

F.N.B.

Corporation

49,332

5,812

FactSet

Research

Systems,

Inc.

2,541,355

12,998

Federated

Hermes,

Inc.

440,242

3,368

Fidelity

National

Information

Services,

Inc.

186,149

2,546

Fifth

Third

Bancorp

64,490

2,461

Financial

Institutions,

Inc.

41,419

1,634

First

Bancorp/Puerto

Rico

21,994

66

First

Citizens

BancShares,

Inc./NC

91,087

763

First

Commonwealth

Financial

Corporation

9,316

205

First

Financial

Bancorp

4,018

1,415

First

Financial

Bankshares,

Inc.

35,545

1,478

First

Financial

Corporation

49,971

6,776

First

Foundation,

Inc.

41,198

633

First

Hawaiian,

Inc.

11,426

10,721

First

Horizon

Corporation

118,145

2,239

First

International

Bank

of

Israel,

Ltd.

96,447

1,419

First

Internet

Bancorp

23,002

372

First

Interstate

BancSystem,

Inc.

9,278

1,081

First

Merchants

Corporation

30,073

2,934

First

of

Long

Island

Corporation

33,770

209

Five

Star

Bancorp

4,193

993

FleetCor

Technologies,

Inc.

a

253,553

Shares

Common

Stock

(75.1%)

Value

Financials

(12.5%)

-

continued

3,983

Flushing

Financial

Corporation

$

52,297

7,016

Fulton

Financial

Corporation

84,964

7,642

Genworth

Financial,

Inc.

a

44,782

2,417

Glacier

Bancorp,

Inc.

68,885

1,146

Global

Life,

Inc.

124,605

3,248

Global

Payments,

Inc.

374,787

604

Great

Southern

Bancorp,

Inc.

28,944

2,090

Green

Dot

Corporation

a

29,114

17,848

Groupe

Bruxelles

Lambert

SA

1,328,074

6,194

Hamilton

Lane,

Inc.

560,185

807

Hancock

Whitney

Corporation

29,851

1,900

Hang

Seng

Bank,

Ltd.

23,574

5,644

Hanmi

Financial

Corporation

91,602

1,611

Hanover

Insurance

Group,

Inc.

178,789

3,664

Hartford

Financial

Services

Group,

Inc.

259,814

3,553

Heartland

Financial

USA,

Inc.

104,565

10,214

Heritage

Commerce

Corporation

86,513

5,692

Heritage

Financial

Corporation

92,837

2,395

Home

BancShares,

Inc.

50,151

4,670

HomeStreet,

Inc.

c

36,379

1,660

Hometrust

Bancshares,

Inc.

35,972

122,400

Hong

Kong

Exchanges

&

Clearing,

Ltd.

4,542,603

11,402

Hope

Bancorp,

Inc.

100,908

4,960

Horizon

Bancorp,

Inc.

52,973

9,770

Houlihan

Lokey,

Inc.

1,046,562

577,425

HSBC

Holdings

plc

4,518,602

145,297

Humm

Group,

Ltd.

41,104

10,931

Huntington

Bancshares,

Inc.

113,682

51,903

IG

Group

Holdings

plc

406,331

1,485

Independent

Bank

Corporation

72,899

2,547

Independent

Bank

Corporation/MI

46,712

1,517

Intact

Financial

Corporation

221,164

46,661

Intercontinental

Exchange,

Inc.

5,133,643

323

International

Bancshares

Corporation

13,999

965,997

Intesa

Sanpaolo

SPA

2,474,130

6,835

Invesco

Mortgage

Capital,

Inc.

68,418

12,886

Invesco,

Ltd.

187,105

8,207

Investor

AB,

Class

B

157,119

58,569

J.P.

Morgan

Chase

&

Company

8,493,676

573

Jack

Henry

&

Associates,

Inc.

86,603

13,761

Janus

Henderson

Group

plc

355,309

9,200

Japan

Post

Bank

Company,

Ltd.

80,057

40,100

Japan

Post

Holdings

Company,

Ltd.

320,806

1,507

Jyske

Bank

AS

a

109,927

2,349

Kearny

Financial

Corporation/MD

16,279

5,652

KeyCorp

60,816

6,354

Kinsale

Capital

Group,

Inc.

2,631,382

822

L

E

Lundbergforetagen

AB

34,274

4,965

Lancashire

Holdings,

Ltd.

35,741

4,256

Laurentian

Bank

of

Canada

94,849

2,575

Lazard,

Ltd.

79,851

412,055

Lloyds

TSB

Group

plc

221,437

24,888

M&T

Bank

Corporation

3,147,088

360,436

Man

Group

plc

979,679

80,051

Manulife

Financial

Corporation

1,462,813

17,231

Mastercard,

Inc.

6,821,925

672

Mercantile

Bank

Corporation

20,772

41,598

MetLife,

Inc.

2,616,930

2,480

Metropolitan

Bank

Holding

Corporation

a

89,974

10,193

MFA

Financial,

Inc.

97,955

Global

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

104

Shares

Common

Stock

(75.1%)

Value

Financials

(12.5%)

-

continued

33,724

MGIC

Investment

Corporation

$

562,854

551

Mid

Penn

Bancorp,

Inc.

11,092

4,159

Midland

States

Bancorp,

Inc.

85,426

2,096

MidWestOne

Financial

Group,

Inc.

42,612

179,300

Mitsubishi

HC

Capital,

Inc.

1,194,690

192,200

Mitsubishi

UFJ

Financial

Group,

Inc.

1,628,733

11,250

Mizrahi

Tefahot

Bank,

Ltd.

408,541

54,700

Mizuho

Financial

Group,

Inc.

928,694

23,245

Morgan

Stanley

1,898,419

7,006

Mr.

Cooper

Group,

Inc.

a

375,241

2,826

MSCI,

Inc.

1,449,964

1,126

Muenchener

Rueckversicherungs-

Gesellschaft

AG

438,524

444

MVB

Financial

Corporation

10,026

8,189

Nasdaq,

Inc.

397,904

3,392

National

Bank

of

Canada

225,334

5,958

Navient

Corporation

102,597

12,976

New

York

Community

Bancorp,

Inc.

147,148

15,849

NMI

Holdings,

Inc.

a

429,349

174

Northrim

BanCorp,

Inc.

6,894

4,329

OceanFirst

Financial

Corporation

62,641

1,945

OFG

Bancorp

58,078

3,508

Old

National

Bancorp

51,006

3,073

Old

Republic

International

Corporation

82,787

1,601

Old

Second

Bancorp,

Inc.

21,790

8,441

OneMain

Holdings,

Inc.

338,400

516

Onex

Corporation

30,327

26,600

ORIX

Corporation

496,686

466

Pacific

Premier

Bancorp,

Inc.

10,140

7,213

Paragon

Banking

Group

plc

43,094

882

Partners

Group

Holding

AG

990,129

106,349

PayPal

Holdings,

Inc.

a

6,217,163

915

PCB

Bancorp

14,137

732

PennyMac

Financial

Services,

Inc.

48,751

1,041

Pinnacle

Financial

Partners,

Inc.

69,789

13,457

Plus500,

Ltd.

226,089

2,491

Popular,

Inc.

156,958

76,880

Power

Corporation

of

Canada

1,957,306

3,280

Premier

Financial

Corporation

55,957

278

PROG

Holdings,

Inc.

a

9,232

1,288

Prosperity

Bancshares,

Inc.

70,299

2,455

Provident

Financial

Services,

Inc.

37,537

2,023

Prudential

Financial,

Inc.

191,962

7,126

Radian

Group,

Inc.

178,934

50,925

Raymond

James

Financial,

Inc.

5,114,398

3,336

Regions

Financial

Corporation

57,379

46

Reinsurance

Group

of

America,

Inc.

6,679

49,756

Rithm

Capital

Corporation

462,233

5,112

RLI

Corporation

694,670

25,640

Royal

Bank

of

Canada

2,240,727

785

S&T

Bancorp,

Inc.

21,258

2,925

Sandy

Spring

Bancorp,

Inc.

62,683

13,388

SEI

Investments

Company

806,359

3,104

Selective

Insurance

Group,

Inc.

320,240

1,943

Shore

Bancshares,

Inc.

20,440

568

Simmons

First

National

Corporation

9,633

52,300

Singapore

Exchange,

Ltd.

372,063

425

SmartFinancial,

Inc.

9,082

14,300

Sompo

Holdings,

Inc.

612,852

241

Southern

First

Bancshares,

Inc.

a

6,493

1,103

SouthState

Corporation

74,298

Shares

Common

Stock

(75.1%)

Value

Financials

(12.5%)

-

continued

21,086

Standard

Chartered

plc

$

193,940

33,900

Sumitomo

Mitsui

Financial

Group,

Inc.

1,665,373

30,300

Sumitomo

Mitsui

Trust

Holdings,

Inc.

1,140,705

4,761

Sun

Life

Financial,

Inc.

232,293

4,586

Svolder

AB

21,290

5,484

Swedbank

AB

100,804

3,525

Synchrony

Financial

107,759

13,456

Synovus

Financial

Corporation

374,077

1,566

T.

Rowe

Price

Group,

Inc.

164,226

1,446

Territorial

Bancorp,

Inc.

13,144

10,892

Texas

Capital

Bancshares,

Inc.

a

641,539

7,100

Tokio

Marine

Holdings,

Inc.

164,391

33,555

Toronto-Dominion

Bank

2,021,576

5,904

TPG,

Inc.

177,828

8,397

Tradeweb

Markets,

Inc.

673,439

11,941

Triumph

Financial,

Inc.

a

773,657

1,922

TrustCo

Bank

Corporation

NY

52,451

3,233

Trustmark

Corporation

70,253

7,542

Two

Harbors

Investment

Corporation

99,856

766

UMB

Financial

Corporation

47,530

49,155

Unipol

Gruppo

SpA

265,306

1,623

United

Bankshares,

Inc.

44,779

1,101

United

Community

Banks,

Inc.

27,976

71,300

United

Overseas

Bank,

Ltd.

1,485,044

3,015

Univest

Financial

Corporation

52,401

11,053

Unum

Group

543,697

7,550

Valley

National

Bancorp

64,628

4,358

Veritex

Holdings,

Inc.

78,226

11,350

Virtu

Financial,

Inc.

196,015

474

Vontobel

Holding

AG

28,142

8,956

Voya

Financial,

Inc.

595,126

1,994

W.R.

Berkley

Corporation

126,599

561

Walker

&

Dunlop,

Inc.

41,649

3,126

Washington

Federal,

Inc.

80,088

95

Webster

Financial

Corporation

3,829

146,042

Wells

Fargo

&

Company

5,967,276

953

Wendel

SA

75,330

1,640

Westamerica

Bancorporation

70,930

19,137

Western

Alliance

Bancorp

879,728

43,831

Western

Union

Company

577,693

768

WEX,

Inc.

a

144,453

119

Willis

Towers

Watson

plc

24,866

8,215

Wintrust

Financial

Corporation

620,233

1,399

Worldline

SA

a,b

39,272

257

WSFS

Financial

Corporation

9,381

5,482

Zions

Bancorp

NA

191,267

Total

170,501,538

Health

Care

(10.4%)

845

ACADIA

Pharmaceuticals,

Inc.

a

17,610

2,525

Agilent

Technologies,

Inc.

282,346

593

Agiliti,

Inc.

a

3,849

2,226

Agios

Pharmaceuticals,

Inc.

a

55,094

4,903

Aldeyra

Therapeutics,

Inc.

a

32,752

14,986

Alkermes

plc

a

419,758

144

Alnylam

Pharmaceuticals,

Inc.

a

25,502

11,101

Amgen,

Inc.

2,983,505

3,391

Amicus

Therapeutics,

Inc.

a

41,235

1,445

Amphastar

Pharmaceuticals,

Inc.

a

66,456

1,480

Anika

Therapeutics,

Inc.

a

27,572

3,954

Apellis

Pharmaceuticals,

Inc.

a

150,410

2,786

Argenx

SE

ADR

a

1,369,681

Global

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

105

Shares

Common

Stock

(75.1%)

Value

Health

Care

(10.4%)

-

continued

4,629

Ascendis

Pharma

AS

ADR

a

$

433,460

71,800

Astellas

Pharma,

Inc.

993,829

37,921

AstraZeneca

plc

5,114,986

22,781

AstraZeneca

plc

ADR

1,542,729

1,583

Avanos

Medical,

Inc.

a

32,008

158,448

Avantor,

Inc.

a

3,340,084

7,763

Azenta,

Inc.

a

389,625

17,400

Baxter

International,

Inc.

656,676

25,394

Bayer

AG

1,219,532

10,487

Biogen,

Inc.

a

2,695,264

184

BioMarin

Pharmaceutical,

Inc.

a

16,280

956

BioMerieux

92,484

238

Bio-Rad

Laboratories,

Inc.

a

85,311

13,562

Bio-Techne

Corporation

923,165

427

Blueprint

Medicines

Corporation

a

21,444

1,299

Bruker

Corporation

80,928

6,027

Cardinal

Health,

Inc.

523,264

503

Cencora,

Inc.

90,525

840

Centene

Corporation

a

57,859

1,732

Charles

River

Laboratories

International,

Inc.

a

339,437

4,200

Chugai

Pharmaceutical

Company,

Ltd.

129,503

13,272

Cigna

Group

3,796,721

2,634

Codexis,

Inc.

a

4,978

3,918

Community

Health

Systems,

Inc.

a

11,362

2,428

Cooper

Companies,

Inc.

772,128

29,322

CSL,

Ltd.

4,723,866

24,122

CVS

Health

Corporation

1,684,198

12,100

Daiichi

Sankyo

Company,

Ltd.

331,266

17,142

Danaher

Corporation

4,252,930

4,309

Deciphera

Pharmaceuticals,

Inc.

a

54,811

19,365

Dentsply

Sirona,

Inc.

661,508

8,311

Dexcom,

Inc.

a

775,416

9,006

Dynavax

Technologies

Corporation

a

133,019

9,484

Edwards

Lifesciences

Corporation

a

657,052

56,217

Elanco

Animal

Health,

Inc.

a

631,879

8,975

Elevance

Health,

Inc.

3,907,895

850

Enanta

Pharmaceuticals,

Inc.

a

9,495

12,454

Enovis

Corporation

a

656,699

4,605

Exelixis,

Inc.

a

100,619

25,010

Fresenius

SE

&

Company

KGaA

776,816

2,655

Galenica

AG

b

196,140

626

Gerresheimer

AG

65,593

48,691

Gilead

Sciences,

Inc.

3,648,904

3,177

Globus

Medical,

Inc.

a

157,738

4,564

GoodRx

Holdings,

Inc.

a

25,695

68,402

GSK

plc

1,237,659

12,736

Halozyme

Therapeutics,

Inc.

a

486,515

9,778

HCA

Healthcare,

Inc.

2,405,192

5,866

Hikma

Pharmaceuticals

plc

148,957

1,102

Hologic,

Inc.

a

76,479

6,300

Hoya

Corporation

645,230

2,324

ICON

plc

a

572,285

116

IDEXX

Laboratories,

Inc.

a

50,723

8,658

Immunocore

Holdings

plc

ADR

a

449,350

13,404

Inmode,

Ltd.

a

408,286

1,801

Inspire

Medical

Systems,

Inc.

a

357,390

10,881

Intuitive

Surgical,

Inc.

a

3,180,408

815

IQVIA

Holding,

Inc.

a

160,351

1,663

Jazz

Pharmaceuticals,

Inc.

a

215,259

21,651

Johnson

&

Johnson

3,372,143

263

Kiniksa

Pharmaceuticals,

Ltd.

a

4,568

1,961

Kura

Oncology,

Inc.

a

17,884

Shares

Common

Stock

(75.1%)

Value

Health

Care

(10.4%)

-

continued

9,800

Kyowa

Hakko

Kirin

Company,

Ltd.

$

170,391

985

Laboratorios

Farmaceuticos

ROVI

SA

53,314

27,491

Laboratory

Corporation

of

America

Holdings

5,527,066

9,854

Lantheus

Holdings,

Inc.

a

684,656

63

Ligand

Pharmaceuticals,

Inc.

a

3,775

914

LivaNova

plc

a

48,332

1,077

LNA

Sante

28,125

81,043

Maravai

LifeSciences

Holdings,

Inc.

a

810,430

295

Masimo

Corporation

a

25,866

29

Medpace

Holdings,

Inc.

a

7,022

31,549

Medtronic

plc

2,472,180

45,378

Merck

&

Company,

Inc.

4,671,665

6,553

Merck

KGaA

1,092,433

8,437

Molina

Healthcare,

Inc.

a

2,766,408

2,062

Myriad

Genetics,

Inc.

a

33,074

6,289

Natera,

Inc.

a

278,288

1,886

National

HealthCare

Corporation

120,666

82,720

Novartis

AG

8,448,081

107,227

Novo

Nordisk

AS

9,763,154

30,556

Novo

Nordisk

AS

ADR

a

2,778,763

57,600

Olympus

Corporation

747,849

3,300

Ono

Pharmaceutical

Company,

Ltd.

63,289

1,984

OraSure

Technologies,

Inc.

a

11,765

3,085

Orion

Oyj

121,197

8,600

Otsuka

Holdings

Company,

Ltd.

305,344

2,452

Pacira

Pharmaceuticals,

Inc.

a

75,227

2,639

Pediatrix

Medical

Group,

Inc.

a

33,542

78,539

Pfizer,

Inc.

2,605,139

16,141

Phreesia,

Inc.

a

301,514

24,332

Point

Biopharma

Global,

Inc.

a

162,294

37,262

Progyny,

Inc.

a

1,267,653

2,798

Qiagen

NV

a

113,319

21,605

QIAGEN

NV

a

871,753

37,212

R1

RCM,

Inc.

a

560,785

59,514

Recordati

SPA

2,804,617

7,086

Repligen

Corporation

a

1,126,745

3,525

Revance

Therapeutics,

Inc.

a

40,432

4,894

Roche

Holding

AG,

Participation

Certificates

1,336,067

4,088

Rocket

Pharmaceuticals,

Inc.

a

83,763

1,747

Royalty

Pharma

plc

47,414

35,604

Sanofi

3,822,989

3,563

Sarepta

Therapeutics,

Inc.

a

431,907

32,495

scPharmaceuticals,

Inc.

a

231,364

1,863

Sensus

Healthcare,

Inc.

a

5,161

2,500

Shionogi

&

Company,

Ltd.

111,511

3,600

ShockWave

Medical,

Inc.

a

716,760

76

Siegfried

Holding

AG

64,914

1,702

Sonic

Healthcare,

Ltd.

32,500

55,400

Takeda

Pharmaceutical

Company,

Ltd.

1,717,207

1,854

Tecan

Group

AG

623,169

740

Teleflex,

Inc.

145,343

15,000

Terumo

Corporation

397,063

3,340

TG

Therapeutics,

Inc.

a

27,922

3,911

UCB

SA

320,347

12,523

UnitedHealth

Group,

Inc.

6,313,971

3,333

Universal

Health

Services,

Inc.

419,058

1,561

Vanda

Pharmaceuticals,

Inc.

a

6,744

5,553

Veeva

Systems,

Inc.

a

1,129,758

5,780

Veracyte,

Inc.

a

129,067

15,819

Vericel

Corporation

a

530,253

Global

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

106

Shares

Common

Stock

(75.1%)

Value

Health

Care

(10.4%)

-

continued

4,661

Vor

BioPharma,

Inc.

a,c

$

9,881

1,027

West

Pharmaceutical

Services,

Inc.

385,341

1,501

Zentalis

Pharmaceuticals,

Inc.

a

30,110

21,394

Zimmer

Biomet

Holdings,

Inc.

2,400,835

23,563

Zoetis,

Inc.

4,099,491

Total

142,645,633

Industrials

(9.4%)

2,690

A.O.

Smith

Corporation

177,890

3,850

Aalberts

NV

140,481

1,086

Acuity

Brands,

Inc.

184,957

7,316

Advanced

Drainage

Systems,

Inc.

832,780

2,398

Aena

SME

SA

b

360,845

7,900

AGC,

Inc.

276,875

7,818

AGCO

Corporation

924,713

5,839

Air

Lease

Corporation

230,115

9,640

Alaska

Air

Group,

Inc.

a

357,451

506

American

Woodmark

Corporation

a

38,259

3,664

AMETEK,

Inc.

541,393

408

Apogee

Enterprises,

Inc.

19,209

2,935

Armstrong

World

Industries,

Inc.

211,320

14,870

ASGN,

Inc.

a

1,214,582

95,473

Assa

Abloy

AB

2,074,492

9,648

Atlas

Copco

AB,

Class

A

129,579

7,550

Atlas

Copco

AB,

Class

B

88,298

145,360

Aurizon

Holdings,

Ltd.

325,013

1,678

AZZ,

Inc.

76,483

17,964

Badger

Infrastructure

Solutions,

Ltd.

458,804

16,704

BAE

Systems

plc

202,986

979

Balfour

Beatty

plc

3,834

20,195

Barnes

Group,

Inc.

686,024

4,931

Beacon

Roofing

Supply,

Inc.

a

380,525

42

Boise

Cascade

Company

4,328

5,102

Booz

Allen

Hamilton

Holding

Corporation

557,495

79,546

Brambles,

Ltd.

730,753

2,717

Builders

FirstSource,

Inc.

a

338,239

10,956

Bunzl

plc

390,187

36,300

Canadian

National

Railway

Company

3,931,063

817

Cargotec

Oyj

34,155

11,034

Carlisle

Companies,

Inc.

2,860,675

6,489

Chart

Industries,

Inc.

a

1,097,420

35,508

Cia

de

Distribucion

Integral

Logista

Holdings

SA

907,402

138,500

CK

Hutchison

Holdings,

Ltd.

735,309

181,406

CNH

Industrial

NV

2,195,013

144

Columbus

McKinnon

Corporation

5,027

37,622

Compagnie

de

Saint-Gobain

SA

2,251,692

23,006

Computershare,

Ltd.

383,385

9,938

Conduent

Incorporated

a

34,584

1,102

CSW

Industrials,

Inc.

193,114

72,121

CSX

Corporation

2,217,721

2,024

Cummins,

Inc.

462,403

1,955

Curtiss-Wright

Corporation

382,457

4,400

Dai

Nippon

Printing

Company,

Ltd.

114,480

5,400

Daikin

Industries,

Ltd.

846,567

1,085

Daseke,

Inc.

a

5,566

72,138

Delta

Air

Lines,

Inc.

2,669,106

66,223

Deutsche

Lufthansa

AG

a

524,049

35,150

Deutsche

Post

AG

1,426,230

2,114

Donaldson

Company,

Inc.

126,079

29

Dover

Corporation

4,046

Shares

Common

Stock

(75.1%)

Value

Industrials

(9.4%)

-

continued

14,025

DSV

AS

$

2,613,429

15,852

Eiffage

SA

1,504,634

2,909

EMCOR

Group,

Inc.

612,024

1,984

Epiroc

AB,

Class

A

37,671

1,059

Epiroc

AB,

Class

B

16,941

214

Equifax,

Inc.

39,200

41,443

ExlService

Holdings,

Inc.

a

1,162,062

1,723

Expeditors

International

of

Washington,

Inc.

197,507

6,200

FANUC

Corporation

161,246

60,123

Fastenal

Company

3,285,121

2,142

Ferguson

plc

352,295

7,561

Finning

International,

Inc.

223,003

24,187

First

Advantage

Corporation

333,539

73,713

Flowserve

Corporation

2,931,566

563

Forrester

Research,

Inc.

a

16,271

3,605

Fortune

Brands

Innovations,

Inc.

224,087

1,916

Gates

Industrial

Corporation

plc

a

22,245

20,143

General

Dynamics

Corporation

4,450,999

1,561

Gibraltar

Industries,

Inc.

a

105,383

63

GMS,

Inc.

a

4,030

689

Griffon

Corporation

27,333

155,966

GWA

Group,

Ltd.

184,323

158

Heidrick

&

Struggles

International,

Inc.

3,953

7,360

Helios

Technologies,

Inc.

408,333

1,262

Herc

Holdings,

Inc.

150,102

4,025

Hillman

Solutions

Corporation

a

33,206

10,100

Hitachi,

Ltd.

625,974

11,401

Honeywell

International,

Inc.

2,106,221

44,115

Howmet

Aerospace,

Inc.

2,040,319

544

Hubbell,

Inc.

170,495

1,524

IDEX

Corporation

317,022

1,549

IMCD

NV

195,847

31,300

Inaba

Denki

Sangyo

Company,

Ltd.

676,917

4,481

Indutrade

AB

82,759

668

Ingersoll

Rand,

Inc.

42,565

1,876

Interface,

Inc.

18,404

6,500

ITOCHU

Corporation

234,741

51,942

Janus

International

Group,

Inc.

a

555,779

9,000

Jardine

Matheson

Holdings,

Ltd.

417,780

13,517

JB

Hunt

Transport

Services,

Inc.

2,548,225

9,889

JetBlue

Airways

Corporation

a

45,489

28,127

Johnson

Controls

International

plc

1,496,638

31,300

Kajima

Corporation

509,502

30,400

Kawasaki

Kisen

Kaisha,

Ltd.

c

1,037,427

3,244

Kennametal,

Inc.

80,711

24,900

Kinden

Corporation

362,137

1,400

Komatsu,

Ltd.

37,760

1,800

Kumagai

Gumi

Company,

Ltd.

42,424

15,580

L3Harris

Technologies,

Inc.

2,712,790

26,199

Legrand

SA

2,418,114

3,001

Lifco

AB

52,497

4,411

Lincoln

Electric

Holdings,

Inc.

801,876

1,600

Management

Solutions

Company,

Ltd.

29,995

6,513

Masco

Corporation

348,120

3,605

Masterbrand,

Inc.

a

43,801

1,264

Matson,

Inc.

112,142

11,000

MEITEC

Group

Holdings,

Inc.

198,938

9,383

Middleby

Corporation

a

1,201,024

17,700

Mitsubishi

Corporation

843,411

39,100

Mitsubishi

Electric

Corporation

483,060

9,900

Mitsui

&

Company,

Ltd.

359,072

Global

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

107

Shares

Common

Stock

(75.1%)

Value

Industrials

(9.4%)

-

continued

1,855

MSC

Industrial

Direct

Company,

Inc.

$

182,068

451

MYR

Group,

Inc.

a

60,777

141

National

Presto

Industries,

Inc.

10,217

15,100

Nidec

Corporation

697,219

80,300

Nihon

M&A

Center

Holdings,

Inc.

385,917

3,500

Nippon

Express

Holdings,

Inc.

182,629

22,100

Nippon

Yusen

Kabushiki

Kaisha

573,823

15,100

Nitto

Kogyo

Corporation

361,890

6,484

Northrop

Grumman

Corporation

2,854,192

4,332

nVent

Electric

plc

229,553

2,094

Old

Dominion

Freight

Line,

Inc.

856,739

7,437

Oshkosh

Corporation

709,713

1,645

Otis

Worldwide

Corporation

132,110

5,884

Owens

Corning,

Inc.

802,636

7,376

PACCAR,

Inc.

627,107

14,187

PageGroup

plc

72,543

12,603

Parker-Hannifin

Corporation

4,909,121

611

Paycom

Software,

Inc.

158,414

680

Paylocity

Holding

Corporation

a

123,556

11,687

Pentair

plc

756,733

15,687

RB

Global,

Inc.

980,437

40,900

Recruit

Holdings

Company,

Ltd.

1,251,337

20,931

Redde

Northgate

plc

86,319

6,686

Regal

Rexnord

Corporation

955,296

96,810

RELX

plc

3,266,383

2,204

Republic

Services,

Inc.

314,092

1,930

Resideo

Technologies,

Inc.

a

30,494

9,293

Russel

Metals,

Inc.

260,129

2,566

Saia,

Inc.

a

1,022,936

296

Schindler

Holding

AG

56,953

6,166

Schindler

Holding

AG,

Participation

Certificates

1,228,266

3,106

Schneider

Electric

SE

511,845

23,300

Secom

Company,

Ltd.

1,580,691

12,600

Seino

Holdings

Company,

Ltd.

176,567

20,595

Sensata

Technologies

Holding

plc

778,903

20,209

Siemens

AG

2,888,043

4,055

Simpson

Manufacturing

Company,

Inc.

607,479

39,200

Singapore

Technologies

Engineering,

Ltd.

111,871

1,920

SiteOne

Landscape

Supply,

Inc.

a

313,824

4,430

SkyWest,

Inc.

a

185,794

1,900

SMC

Corporation

851,698

189

Snap-On,

Inc.

48,206

28,760

Southwest

Airlines

Company

778,533

1,791

Spirax-Sarco

Engineering

plc

207,315

2,990

Standex

International

Corporation

435,613

542

Sterling

Construction

Company,

Inc.

a

39,826

9,700

Sumitomo

Corporation

193,592

2,300

Taikisha,

Ltd.

69,491

2,600

Takara

Standard

Company,

Ltd.

32,194

2,872

Terex

Corporation

165,485

4,042

Textron,

Inc.

315,842

8,821

Thales

SA

1,239,731

7,754

Timken

Company

569,841

1,602

Titan

International,

Inc.

a

21,515

1,489

Titan

Machinery,

Inc.

a

39,578

22,900

TOPPAN

Holdings,

Inc.

547,799

13,612

Toromont

Industries,

Ltd.

1,108,603

2,395

Trane

Technologies

plc

485,969

12,056

TransUnion

865,500

2,514

Trex

Company,

Inc.

a

154,938

Shares

Common

Stock

(75.1%)

Value

Industrials

(9.4%)

-

continued

13,100

Tsubakimoto

Chain

Company

$

339,002

85,946

Uber

Technologies,

Inc.

a

3,952,656

32

UniFirst

Corporation/MA

5,216

24,592

United

Parcel

Service,

Inc.

3,833,155

3,300

United

Rentals,

Inc.

1,467,081

383

Valmont

Industries,

Inc.

92,000

1,863

Vertiv

Holdings

Company

69,304

5,183

Vinci

SA

573,401

6,336

Volvo

AB,

Class

B

130,507

3,179

Wabash

National

Corporation

67,140

24,822

WillScot

Mobile

Mini

Holdings

Corporation

a

1,032,347

403

Wolters

Kluwer

NV

48,793

6,800

Yuasa

Trading

Company,

Ltd.

187,885

Total

128,980,304

Information

Technology

(12.4%)

8,068

8x8,

Inc.

a

20,331

8,298

Adobe,

Inc.

a

4,231,150

41,016

Advanced

Micro

Devices,

Inc.

a

4,217,265

34,000

Advantest

Corporation

a

948,380

1,270

Alarm.com

Holdings,

Inc.

a

77,648

1,030

Alpha

and

Omega

Semiconductor,

Ltd.

a

30,735

500

American

Software,

Inc.

5,730

3,177

Amkor

Technology,

Inc.

71,800

14,879

Amphenol

Corporation

1,249,687

51,823

Apple,

Inc.

8,872,616

16,523

Applied

Materials,

Inc.

2,287,609

4,478

Arista

Networks,

Inc.

a

823,639

1,867

ASM

International

NV

779,646

10,660

ASML

Holding

NV

6,276,079

6,800

ASMPT,

Ltd.

60,586

32,509

Calix,

Inc.

a

1,490,213

53,800

Canon,

Inc.

1,295,969

499

CDW

Corporation

100,678

15,550

CGI,

Inc.

a

1,532,733

1,302

Ciena

Corporation

a

61,533

207,687

Cisco

Systems,

Inc.

11,165,253

17,028

Cognex

Corporation

722,668

156

Cognizant

Technology

Solutions

Corporation

10,567

9,862

CommScope

Holding

Company,

Inc.

a

33,136

7,242

CommVault

Systems,

Inc.

a

489,632

1,037

Corning,

Inc.

31,597

15,586

Crane

NXT

Company

866,114

31,178

Dassault

Systemes

SE

1,158,027

2,014

Datadog,

Inc.

a

183,455

8,326

Descartes

Systems

Group,

Inc.

a

610,962

2,565

DocuSign,

Inc.

a

107,730

4,759

Dolby

Laboratories,

Inc.

377,198

13,915

Dropbox,

Inc.

a

378,905

16,242

Dynatrace

Holdings,

LLC

a

758,989

718

Elastic

NV

a

58,330

6,923

Entegris,

Inc.

650,139

3,033

EPAM

Systems,

Inc.

a

775,508

321

F5,

Inc.

a

51,726

35

Fair

Isaac

Corporation

a

30,399

5,317

Five9,

Inc.

a

341,883

25,180

Flex,

Ltd.

a

679,356

29,107

Fortinet,

Inc.

a

1,707,999

9,100

Fuji

Soft,

Inc.

294,345

13,900

FUJIFILM

Holdings

NPV

804,123

11,100

Fujitsu,

Ltd.

1,305,483

Global

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

108

Shares

Common

Stock

(75.1%)

Value

Information

Technology

(12.4%)

-

continued

17

Gartner,

Inc.

a

$

5,841

1,008

GoDaddy,

Inc.

a

75,076

37,319

Grid

Dynamics

Holdings,

Inc.

a

454,545

16,767

Guidewire

Software,

Inc.

a

1,509,030

21,649

Hackett

Group,

Inc.

510,700

76,755

Halma

plc

1,808,415

14,965

Hewlett

Packard

Enterprise

Company

259,942

50,897

Hexagon

AB

433,171

139

HP,

Inc.

3,572

1,669

HubSpot,

Inc.

a

821,983

46,352

Infineon

Technologies

AG

1,535,213

1,796

IPG

Photonics

Corporation

a

182,366

11,371

IRESS,

Ltd.

42,296

3,468

Jabil,

Inc.

440,055

1,310

JFrog,

Ltd.

a

33,222

25,578

Juniper

Networks,

Inc.

710,813

3,800

Keyence

Corporation

1,405,338

2,894

Keysight

Technologies,

Inc.

a

382,905

12,604

Knowles

Corporation

a

186,665

6,055

Kyndryl

Holdings,

Inc.

a

91,431

2,000

Kyocera

Corporation

101,395

900

Lam

Research

Corporation

564,093

16,981

Lattice

Semiconductor

Corporation

a

1,459,177

1,315

Littelfuse,

Inc.

325,226

4,191

LiveRamp

Holding,

Inc.

a

120,868

5,084

Marvell

Technology,

Inc.

275,197

1,815

MaxLinear,

Inc.

a

40,384

474

Microchip

Technology,

Inc.

36,996

87,579

Microsoft

Corporation

27,653,069

8,309

MKS

Instruments,

Inc.

719,061

2,224

Monolithic

Power

Systems,

Inc.

1,027,488

255

Motorola

Solutions,

Inc.

69,421

45,600

Murata

Manufacturing

Company,

Ltd.

a

831,843

2,433

NCR

Corporation

a

65,618

160

NetApp,

Inc.

12,141

3,572

NICE,

Ltd.

a

609,237

4,600

Nomura

Research

Institute,

Ltd.

119,562

223

Nova,

Ltd.

a

24,591

6,186

Nova,

Ltd.

a,c

695,554

89,400

NTT

Data

Group

Corporation

1,196,293

29,122

NVIDIA

Corporation

12,667,779

2,799

ON

Semiconductor

Corporation

a

260,167

160

OSI

Systems,

Inc.

a

18,886

16,841

PagerDuty,

Inc.

a

378,754

6,295

Palo

Alto

Networks,

Inc.

a

1,475,800

6,390

PDF

Solutions,

Inc.

a

207,036

10,990

PTC,

Inc.

a

1,557,063

4,832

Q2

Holdings,

Inc.

a

155,929

1,392

Qorvo,

Inc.

a

132,894

78,201

QUALCOMM,

Inc.

8,685,003

5,253

Rackspace

Technology,

Inc.

a,c

12,345

1,566

Rapid7,

Inc.

a

71,692

21,000

Renesas

Electronics

Corporation

a

320,774

737

Reply

SPA

69,154

2,128

RingCentral,

Inc.

a

63,053

44,000

Rohm

Company,

Ltd.

a

827,167

46,868

Sage

Group

plc

564,009

21,558

Salesforce,

Inc.

a

4,371,531

94,291

Samsung

Electronics

Company,

Ltd.

4,766,800

539

Sanmina

Corporation

a

29,257

17,441

SAP

SE

2,257,599

Shares

Common

Stock

(75.1%)

Value

Information

Technology

(12.4%)

-

continued

10,426

ServiceNow,

Inc.

a

$

5,827,717

29,500

Shopify,

Inc.

a

1,609,815

2,328

Silicon

Laboratories,

Inc.

a

269,792

3,246

Skyworks

Solutions,

Inc.

320,023

3,506

SolarWinds

Corporation

a

33,097

559

Sopra

Group

SA

115,399

2,431

Spectris

plc

100,502

1,622

Sprinklr,

Inc.

a

22,448

34,555

Sprout

Social,

Inc.

a

1,723,603

1,821

SPS

Commerce,

Inc.

a

310,681

47,690

STMicroelectronics

NV

2,056,540

3,084

Synopsys,

Inc.

a

1,415,463

2,484

TE

Connectivity,

Ltd.

306,849

2,926

Technology

One,

Ltd.

29,016

351

Teledyne

Technologies,

Inc.

a

143,412

3,759

Temenos

AG

262,906

3,147

Teradata

Corporation

a

141,678

91

Teradyne,

Inc.

9,142

15,727

Texas

Instruments,

Inc.

2,500,750

16,000

TIS,

Inc.

351,827

7,000

Tokyo

Electron,

Ltd.

956,146

2,200

Tokyo

Seimitsu

Company,

Ltd.

109,994

35,197

TTM

Technologies,

Inc.

a

453,337

9,322

Tyler

Technologies,

Inc.

a

3,599,597

10,277

Unisys

Corporation

a

35,456

2,240

Universal

Display

Corporation

351,658

4,128

Upland

Software,

Inc.

a

19,071

18,660

Varonis

Systems,

Inc.

a

569,876

1,998

Verint

Systems,

Inc.

a

45,934

2,008

VeriSign,

Inc.

a

406,680

6,928

Viavi

Solutions,

Inc.

a

63,322

7,429

Vishay

Intertechnology,

Inc.

183,645

8,025

Vontier

Corporation

248,133

7,864

Western

Digital

Corporation

a

358,834

9,154

Wolfspeed,

Inc.

a

348,767

8,815

Workiva,

Inc.

a

893,312

1,271

Xero,

Ltd.

a

91,408

1,412

Xerox

Holdings

Corporation

22,154

5,967

Yext,

Inc.

a

37,771

2,176

Zoom

Video

Communications,

Inc.

a

152,189

Total

170,257,980

Materials

(3.8%)

72,423

Acerinox

SA

699,839

16,101

Air

Liquide

SA

2,711,917

748

Albemarle

Corporation

127,190

14,199

Alcoa

Corporation

412,623

429

AptarGroup,

Inc.

53,642

22,523

ArcelorMittal

SA

563,887

1,458

Arkema

SA

143,527

73,200

Asahi

Kasei

Corporation

460,755

105,253

Axalta

Coating

Systems,

Ltd.

a

2,831,306

179,883

Barrick

Gold

Corporation

2,612,988

5,035

BASF

SE

227,909

12,793

Berry

Plastics

Group,

Inc.

792,015

132,892

BHP

Group,

Ltd.

3,733,049

110,916

BlueScope

Steel,

Ltd.

1,373,529

2,732

Buzzi

SpA

74,658

10,466

Celanese

Corporation

1,313,692

48,319

CF

Industries

Holdings,

Inc.

4,142,871

13,467

Cleveland-Cliffs,

Inc.

a

210,489

4,721

Commercial

Metals

Company

233,265

2,532

Eagle

Materials,

Inc.

421,629

26,701

Eastman

Chemical

Company

2,048,501

Global

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

109

Shares

Common

Stock

(75.1%)

Value

Materials

(3.8%)

-

continued

31,363

Evraz

plc

a,d

$

4

122,900

Glencore

plc

699,860

80,050

Granges

AB

753,030

117

Hawkins,

Inc.

6,885

5,861

Heidelberg

Materials

AG

453,937

41,987

Hexpol

AB

372,028

38,877

Holcim

AG

2,488,474

5,913

Huntsman

Corporation

144,277

13,194

ICL

Group,

Ltd.

72,806

895

Ingevity

Corporation

a

42,611

2,651

Innospec,

Inc.

270,932

128

Israel

Corporation,

Ltd.

a

32,617

687

Kaiser

Aluminum

Corporation

51,704

30,600

Kyoei

Steel,

Ltd.

406,923

2,500

Lintec

Corporation

39,968

3,073

LSB

Industries,

Inc.

a

31,437

356

LyondellBasell

Industries

NV

33,713

1,843

Martin

Marietta

Materials,

Inc.

756,515

8,616

Mondi

plc

143,732

833

Myers

Industries,

Inc.

14,936

5,485

Newmont

Corporation

202,671

11,212

Norsk

Hydro

ASA

70,163

35,128

Nucor

Corporation

5,492,263

3,962

O-I

Glass,

Inc.

a

66,284

2,210

Orion

SA

47,029

751

PPG

Industries,

Inc.

97,480

81,365

Ranpak

Holdings

Corporation

a

442,626

430

Reliance

Steel

&

Aluminum

Company

112,759

30,566

Rio

Tinto

plc

1,919,327

16,786

Rio

Tinto,

Ltd.

1,210,739

10,304

RPM

International,

Inc.

976,922

1,523

Ryerson

Holding

Corporation

44,304

2,098

Schnitzer

Steel

Industries,

Inc.

58,429

22,400

Shin-Etsu

Chemical

Company,

Ltd.

650,623

5,868

Sika

AG

1,486,722

7,041

Solvay

SA

778,096

170,734

SSAB

AB,

Class

A

962,083

82,459

SSAB

AB,

Class

B

452,367

560

Steel

Dynamics,

Inc.

60,043

12,345

Summit

Materials,

Inc.

a

384,423

5,198

SunCoke

Energy,

Inc.

52,760

12,200

Taiyo

Holdings

Company,

Ltd.

208,942

1,936

TimkenSteel

Corporation

a

42,050

27,500

Toagosei

Company,

Ltd.

246,969

714

TriMas

Corporation

17,679

1,033

Trinseo

plc

8,440

29,502

Tronox

Holdings

plc

396,507

16,305

United

States

Steel

Corporation

529,586

1,567

Verallia

SA

b

61,637

704

Vidrala

SA

61,119

1,897

Vulcan

Materials

Company

383,232

5,287

West

Fraser

Timber

Company,

Ltd.

383,840

44,430

Yara

International

ASA

1,677,661

Total

51,591,445

Real

Estate

(2.0%)

18,141

Agree

Realty

Corporation

1,002,109

8,374

Apartment

Income

REIT

Corporation

257,082

11,767

AvalonBay

Communities,

Inc.

2,020,865

3,285

Azrieli

Group,

Ltd.

168,629

2,640

Camden

Property

Trust

249,691

1,821

CareTrust

REIT,

Inc.

37,330

29,696

CBRE

Group,

Inc.

a

2,193,347

Shares

Common

Stock

(75.1%)

Value

Real

Estate

(2.0%)

-

continued

1,596

Centerspace

$

96,175

3,409

Chatham

Lodging

Trust

32,624

11,633

Compass,

Inc.

a

33,736

19,081

CubeSmart

727,559

2,400

Daito

Trust

Construction

Company,

Ltd.

252,801

57,700

Daiwa

House

Industry

Company,

Ltd.

1,548,633

11,274

Dream

Industrial

REIT

106,577

630

EastGroup

Properties,

Inc.

104,914

10,470

Elme

Communities

142,811

8,255

EPR

Properties

342,913

26,913

Equity

Commonwealth

494,392

7,206

Equity

Residential

423,064

4,807

Essential

Properties

Realty

Trust,

Inc.

103,975

842

Essex

Property

Trust,

Inc.

178,580

4,108

Extra

Space

Storage,

Inc.

499,451

6,609

First

Industrial

Realty

Trust,

Inc.

314,522

3,290

FirstService

Corporation

478,827

11,003

Four

Corners

Property

Trust,

Inc.

244,157

2,417

Getty

Realty

Corporation

67,023

82,000

Hang

Lung

Properties,

Ltd.

112,189

172,554

Healthcare

Realty

Trust,

Inc.

2,634,900

33,000

Henderson

Land

Development

Company,

Ltd.

86,657

186,790

Host

Hotels

&

Resorts,

Inc.

3,001,715

1,432

Howard

Hughes

Holdings,

Inc.

a

106,154

23,000

Hysan

Development

Company,

Ltd.

44,526

13,439

Independence

Realty

Trust,

Inc.

189,087

6,695

InterRent

REIT

61,565

2,299

Kennedy-Wilson

Holdings,

Inc.

33,887

2,710

LEG

Immobilien

AG

a

186,359

867

LTC

Properties,

Inc.

27,857

27,176

LXP

Industrial

Trust

241,866

2,966

Mid-America

Apartment

Communities,

Inc.

381,576

9,327

NetSTREIT

Corporation

145,315

6,344

NNN

REIT,

Inc.

224,197

4,893

Nyfosa

AB

26,235

8,691

Pebblebrook

Hotel

Trust

118,111

11,011

PSP

Swiss

Property

AG

1,299,098

3,479

Realty

Income

Corporation

173,741

6,912

Regency

Centers

Corporation

410,849

14,790

Rexford

Industrial

Realty,

Inc.

729,887

807

RMR

Group,

Inc.

19,788

110,000

Road

King

Infrastructure,

Ltd.

a

24,744

11,443

Sabra

Health

Care

REIT,

Inc.

159,515

15,924

SBA

Communications

Corporation

3,187,507

21,201

Service

Properties

Trust

163,036

3,315

Simon

Property

Group,

Inc.

358,119

11,500

Sun

Hung

Kai

Properties,

Ltd.

122,704

36,500

Swire

Pacific,

Ltd.

245,846

1,488

Swiss

Prime

Site

AG

136,225

1,663

Terreno

Realty

Corporation

94,458

18,941

UDR,

Inc.

675,625

2,130

Welltower,

Inc.

174,490

34,270

Wing

Tai

Holdings,

Ltd.

35,097

Total

27,754,712

Utilities

(2.1%)

85,894

A2A

SPA

152,659

2,061

AES

Corporation

31,327

8,141

Alliant

Energy

Corporation

394,431

Global

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

110

Shares

Common

Stock

(75.1%)

Value

Utilities

(2.1%)

-

continued

5,557

American

Electric

Power

Company,

Inc.

$

417,998

1,617

Artesian

Resources

Corporation

67,898

20,087

ATCO,

Ltd.

508,738

912

Avista

Corporation

29,521

4,398

Black

Hills

Corporation

222,495

10,696

Boralex,

Inc.

229,788

45,337

Canadian

Utilities,

Ltd.

957,977

9,992

Capital

Power

Corporation

278,959

5,000

Chugoku

Electric

Power

Company,

Inc.

30,712

15,000

CK

Infrastructure

Holdings,

Ltd.

70,775

250

Clearway

Energy,

Inc.

4,980

43,297

Constellation

Energy

Corporation

4,722,837

38,501

Contact

Energy,

Ltd.

185,497

4,737

DTE

Energy

Company

470,289

33,162

Duke

Energy

Corporation

2,926,878

99,228

E.ON

SE

1,173,471

2,611

Edison

International

165,250

27,900

EDP

-

Energias

de

Portugal

SA

116,007

410,206

Enel

SPA

2,515,689

19,044

Engie

SA

292,062

24,749

Entergy

Corporation

2,289,283

7,215

Evergy,

Inc.

365,801

28,203

Fortis,

Inc.

1,071,226

71,223

Hera SPA

194,488

36,057

Iren

SpA

69,328

133,426

Italgas

SPA

682,639

473

NextEra

Energy

Partners,

LP

c

14,048

55,758

NiSource,

Inc.

1,376,107

10,385

NorthWestern

Corporation

499,103

25,368

OGE

Energy

Corporation

845,515

4,370

Pinnacle

West

Capital

Corporation

321,982

7,667

Portland

General

Electric

Company

310,360

35,968

Public

Service

Enterprise

Group,

Inc.

2,046,939

16,016

RWE

AG

594,511

26,185

Superior

Plus

Corporation

197,797

16,675

TransAlta

Corporation

145,235

685

TransAlta

Renewables,

Inc.

6,198

23,293

UGI

Corporation

535,739

10,323

Veolia

Environnement

SA

298,398

3,688

Verbund

AG

300,025

Total

28,130,960

Total

Common

Stock

(cost

$859,376,633)

1,027,670,663

Shares

Registered

Investment

Companies

(

5

.6

%

)

Value

U.S.

Affiliated  (4.7%)

4,382,832

Thrivent

Core

Emerging

Markets

Equity

Fund

36,465,158

3,095,001

Thrivent

Core

Small

Cap

Value

Fund

27,855,005

Total

64,320,163

U.S.

Unaffiliated  (0.9%)

7,743

Communication

Services

Select

Sector

SPDR

Fund

507,709

3,145

Invesco

QQQ

Trust

Series

1

1,126,759

22,554

SPDR

S&P

500

ETF

Trust

9,641,384

11,203

SPDR

S&P

Biotech

ETF

818,043

Shares

Registered

Investment

Companies

(5.6%)

Value

U.S.

Unaffiliated  (0.9%)-

continued

1,189

SPDR

S&P

Oil

&

Gas

Exploration

ETF

$

175,865

Total

12,269,760

Total

Registered

Investment

Companies

(cost

$82,832,376)

76,589,923

Shares

Collateral

Held

for

Securities

Loaned

(

0

.2

%

)

Value

1,735,315

Thrivent

Cash

Management

Trust

1,735,315

Total

Collateral

Held

for

Securities

Loaned

(cost

$1,735,315)

1,735,315

Shares

Preferred

Stock

(

<0.1%

)

Value

Consumer

Discretionary

(<0.1%)

1,414

Bayerische

Motoren

Werke

AG

131,616

Total

131,616

Total

Preferred

Stock

(cost

$99,498)

131,616

Shares

or

Principal

Amount

Short-Term

Investments

(

19

.2

%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

29,325,000

5.164%,

10/2/2023

e

29,325,000

15,000,000

5.270%,

10/6/2023

e

14,991,459

8,000,000

5.260%,

10/11/2023

e

7,989,494

5,000,000

5.273%,

10/13/2023

e

4,992,174

14,000,000

5.280%,

10/18/2023

e

13,968,139

5,500,000

5.270%,

10/19/2023

e

5,486,702

10,000,000

5.280%,

10/20/2023

e

9,974,401

800,000

5.270%,

10/25/2023

e,f

797,384

1,700,000

5.284%,

11/15/2023

e,f

1,689,372

100,000

5.298%,

11/17/2023

e,f

99,347

6,600,000

5.300%,

12/6/2023

e,f

6,538,969

2,500,000

5.308%,

12/13/2023

e,f

2,474,405

4,100,000

5.315%,

12/15/2023

e,f

4,056,865

U.S.

Treasury

Bills

32,800,000

5.263%,

10/3/2023

e

32,795,206

50,000,000

5.270%,

10/5/2023

e

49,978,041

10,000,000

5.275%,

10/10/2023

e

9,988,311

38,000,000

5.273%,

10/12/2023

e

37,944,293

15,000,000

5.282%,

10/17/2023

e

14,967,047

15,000,000

5.280%,

10/19/2023

e

14,962,529

Total

Short-Term

Investments

(cost

$262,934,300)

263,019,138

Total

Investments

(cost

$1,206,978,122)

100.1%

$

1,369,146,655

Other

Assets

and

Liabilities,

Net

(0.1%)

(

959,153

)

Total

Net

Assets

100.0%

$

1,368,187,502

Global

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

111

a

Non-income

producing

security.

b

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$4,235,950

or

0.3%

of

total

net

assets.

c

All

or

a

portion

of

the

security

is

on

loan.

d

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

e

The

interest

rate

shown

reflects

the

yield.

f

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Global

Stock

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Common

Stock

$

1,674,772

Total

lending

$1,674,772

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$1,735,315

Net

amounts

due

to

counterparty

$60,543

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

ETF

-

Exchange

Traded

Fund

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Global

Stock

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

66,842,929

52,517,676

14,325,253

–

Consumer

Discretionary

116,126,352

72,519,952

43,606,400

–

Consumer

Staples

59,183,536

36,472,407

22,711,129

–

Energy

65,655,274

43,489,783

22,165,491

–

Financials

170,501,538

108,459,311

62,042,227

–

Health

Care

142,645,633

94,074,458

48,571,175

–

Industrials

128,980,304

80,071,787

48,908,517

–

Information

Technology

170,257,980

134,816,014

35,441,966

–

Materials

51,591,445

23,355,720

28,235,721

4

Real

Estate

27,754,712

23,296,827

4,457,885

–

Utilities

28,130,960

18,058,781

10,072,179

–

Registered

Investment

Companies

U.S.

Unaffiliated

12,269,760

12,269,760

–

–

Preferred

Stock

Consumer

Discretionary

131,616

–

131,616

–

Short-Term

Investments

263,019,138

–

263,019,138

–

Subtotal

Investments

in

Securities

$

1,303,091,177

$

699,402,476

$

603,688,697

$

4

Other

Investments  *

Total

U.S.

Affiliated

Registered

Investment

Cos.

64,320,163

Collateral

Held

for

Securities

Loaned

1,735,315

Subtotal

Other

Investments

$

66,055,478

Total

Investments

at

Value

$

1,369,146,655

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Global

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

112

Reference

Description:

CME

-

Chicago

Mercantile

Exchange

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

S&P

-

Standard

&

Poor's

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Global

Stock

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

4,409,437

4,409,437

–

–

Total

Asset

Derivatives

$

4,409,437

$

4,409,437

$

–

$

–

Liability

Derivatives

Futures

Contracts

14,058,099

14,058,099

–

–

Total

Liability

Derivatives

$

14,058,099

$

14,058,099

$

–

$

–

The

following

table

presents

Global

Stock

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$15,656,342

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Amount

Value

and

Unrealized

CME

E-mini

S&P

500

Index

1,327

December

2023

$

298,943,173

(

$

11,946,248

)

ICE

mini

MSCI

EAFE

Index

606

December

2023

63,629,660

(

1,772,210

)

ICE

US

mini

MSCI

Emerging

Markets

Index

281

December

2023

13,764,416

(

339,641

)

Total

Futures

Long

Contracts

$

376,337,249

(

$

14,058,099

)

CME

E-mini

Russell

2000

Index

(

696

)

December

2023

(

$

65,304,241

)

$

2,712,961

CME

E-mini

S&P

Mid-Cap

400

Index

(

201

)

December

2023

(

52,356,516

)

1,696,476

Total

Futures

Short

Contracts

(

$

117,660,757

)

$

4,409,437

Total

Futures

Contracts

$

258,676,492

(

$

9,648,662

)

Global

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

113

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Global

Stock

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Equity

$

35,589

$

–

$

–

$

36,465

4,383

2.7%

Core

Small

Cap

Value

28,288

–

–

27,855

3,095

2.0

Total

U.S.

Affiliated

Registered

Investment

Companies

63,877

64,320

4.7

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

1,205

60,989

60,459

1,735

1,735

0.2

Total

Collateral

Held

for

Securities

Loaned

1,205

1,735

0.2

Total

Value

$

65,082

$

66,055

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Equity

$–

$876

$

–

$

–

Core

Small

Cap

Value

Fund

–

(433)

–

–

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

71

Total

Affiliated

Income

from

Securities

Loaned,

Net

$

71

Total

Value

$–

$443

$

–

Government

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

114

Principal

Amount

Long-Term

Fixed

Income

(

98

.5

%

)

Value

Asset-Backed

Securities

(5.7%)

Cascade

Funding

Mortgage

Trust,

LLC

$

635,989

0.985%, 

11/25/2050,

Ser.

2021-EBO1,

Class

A

a,b

$

580,982

635,908

0.801%, 

2/25/2031,

Ser.

2021-HB5,

Class

A

a,b

620,792

1,116,190

1.151%, 

10/27/2031,

Ser.

2021-HB7,

Class

A

a,b

1,064,754

ECMC

Group

Student

Loan

Trust

384,570

6.429%, 

(SOFR30A

+

1.114%),

1/27/2070,

Ser.

2020-3A,

Class

A1B

a,b

378,653

Finance

of

America

HECM

Buyout

461,637

2.695%, 

2/25/2032,

Ser.

2022-HB1,

Class

A

a,b

434,211

GMAC

Mortgage

Corporation

Loan

Trust

27,572

5.934%, 

(TSFR1M

+

0.614%),

8/25/2035,

Ser.

2005-HE1,

Class

A2

b,c

15,283

Goodgreen

896,525

3.860%, 

10/15/2054,

Ser.

2019-1A,

Class

A

a

803,248

Kentucky

Higher

Education

Student

Loan

Corporation

Student

Loan

Rev.

1,134,972

1.650%, 

3/25/2051,

Ser.

2021-1

1,011,365

Missouri

Higher

Education

Loan

Auth.

1,038,591

1.530%, 

1/25/2061,

Ser.

2021-1

851,317

1,286,231

6.134%, 

(TSFR1M

+

0.700%),

3/25/2061,

Ser.

2021-2

b

1,267,327

Navient

Student

Loan

Trust

1,108,751

1.310%, 

12/26/2069,

Ser.

2021-1A,

Class

A1A

a

923,196

New

Hampshire

Higher

Education

Loan

Corporation

561,402

6.634%, 

(TSFR1M

+

1.314%),

9/25/2060,

Ser.

2020-1,

Class

A1B

b

563,185

Preferred

Term

Securities

XXIII,

Ltd./Preferred

Term

Securities

XXIII,

Inc.

32,687

5.871%, 

(LIBOR

3M

+

0.200%),

12/22/2036,

Ser.

A-FP

a,b

32,438

RMF

Buyout

Issuance

Trust

469,946

1.259%, 

11/25/2031,

Ser.

2021-HB1,

Class

A

a,b

449,365

SLM

Student

Loan

Trust

210,728

5.829%, 

(SOFR30A

+

0.514%),

3/25/2025,

Ser.

2010-1,

Class

A

b

202,832

Total

9,198,948

Collateralized

Mortgage

Obligations

(15.2%)

Federal

Agricultural

Mortgage

Corporation

Real

Estate

Trust

1,707,396

2.180%, 

1/25/2051,

Ser.

2021-1,

Class

A

a,b,c

1,311,416

Principal

Amount

Long-Term

Fixed

Income

(98.5%)

Value

Collateralized

Mortgage

Obligations

(15.2%)

-

continued

$

1,656,372

2.631%, 

1/25/2052,

Ser.

2023-1,

Class

A

a,b,c

$

1,314,036

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

189,246

4.000%, 

1/25/2051,

Ser.

5249,

Class

LA

178,541

1,543,651

1.500%, 

3/25/2050,

Ser.

4982,

Class

JA

1,131,612

1,552,059

4.000%, 

8/25/2052,

Ser.

5256,

Class

AY

1,360,708

117,258

2.000%, 

1/15/2041,

Ser.

4074,

Class

JA

110,571

639,694

1.750%, 

6/15/2042,

Ser.

4097,

Class

QN

540,035

450,756

1.750%, 

12/15/2042,

Ser.

4141,

Class

KM

366,042

579,205

3.000%, 

5/15/2045,

Ser.

4631,

Class

PA

520,307

449,239

3.000%, 

3/15/2047,

Ser.

4734,

Class

JA

399,082

730,741

3.500%, 

8/15/2047,

Ser.

4860,

Class

CA

675,088

1,350,000

3.000%, 

9/25/2048,

Ser.

5210,

Class

GD

959,235

1,700,000

2.500%, 

12/15/2048,

Ser.

5094,

Class

BC

1,259,207

867,433

2.000%, 

9/25/2049,

Ser.

4906,

Class

KE

697,459

Federal

Home

Loan

Mortgage

Corporation

-

SCRT

734,262

3.250%, 

6/25/2057,

Ser.

2017-4,

Class

HT

c

638,175

1,114,010

3.000%, 

8/25/2056,

Ser.

2017-2,

Class

HA

c

993,266

1,118,016

2.500%, 

8/25/2059,

Ser.

2020-1,

Class

MT

c

872,171

1,248,199

2.500%, 

9/25/2060,

Ser.

2021-1,

Class

MTU

c

962,993

1,237,216

2.000%, 

11/25/2059,

Ser.

2020-2,

Class

MT

c

938,335

1,089,920

2.500%, 

11/25/2060,

Ser.

2021-2,

Class

MTU

c

841,098

Federal

Home

Loan

Mortgage

Corporation

-

SLST

971,029

2.000%, 

9/25/2030,

Ser.

2020-2,

Class

A1C

c

845,479

1,800,000

2.250%, 

5/26/2031,

Ser.

2021-1,

Class

A2C

c

1,394,633

Federal

National

Mortgage

Association

-

REMIC

764,968

4.500%, 

6/25/2052,

Ser.

2022-43,

Class

MA

728,882

446,688

4.000%, 

7/25/2052,

Ser.

2022-37,

Class

PE

420,177

353,914

2.000%, 

11/25/2032,

Ser.

2012-123,

Class

BA

316,067

1,336,878

3.000%, 

12/25/2039,

Ser.

2014-81,

Class

ZH

1,132,671

319,679

3.000%, 

6/25/2042,

Ser.

2016-24,

Class

LJ

305,453

382,722

3.000%, 

1/25/2043,

Ser.

2013-114,

Class

AB

351,708

467,918

3.250%, 

6/25/2043,

Ser.

2013-60,

Class

PT

414,325

Government

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

115

Principal

Amount

Long-Term

Fixed

Income

(98.5%)

Value

Collateralized

Mortgage

Obligations

(15.2%)

-

continued

$

739,578

4.500%, 

1/25/2046,

Ser.

2022-68,

Class

BA

$

714,882

409,055

3.000%, 

3/25/2046,

Ser.

2016-66,

Class

PA

359,415

101,488

3.500%, 

12/25/2047,

Ser.

2018-41,

Class

PB

93,743

NewRez

Warehouse

Securitization

Trust

1,516,667

6.184%, 

(TSFR1M

+

0.864%),

5/25/2055,

Ser.

2021-1,

Class

A

a,b

1,510,071

Total

24,656,883

Commercial

Mortgage-Backed

Securities

(6.8%)

Federal

Home

Loan

Mortgage

Corporation

Multifamily

Structured

Pass

Through

Certificates

1,600,000

3.000%, 

6/25/2032,

Ser.

K147,

Class

A2

b,c

1,348,667

1,700,000

3.500%, 

7/25/2032,

Ser.

K148,

Class

A2

b,c

1,490,116

1,600,000

3.530%, 

8/25/2032,

Ser.

K149,

Class

A2

c

1,403,788

3,000,000

3.800%, 

10/25/2032,

Ser.

K-151,

Class

A2

b,c

2,683,181

300,000

3.820%, 

12/25/2032,

Ser.

K-153,

Class

A2

b,c

268,338

500,000

4.350%, 

1/25/2033,

Ser.

K-154,

Class

A2

b,c

466,007

1,600,000

4.200%, 

5/25/2033,

Ser.

K-157,

Class

A2

c

1,471,580

Federal

Home

Loan

Mortgage

Corporation

Multifamily

WI

Certificates

550,000

4.500%, 

11/25/2033,

Ser.

K159,

Class

A2

517,462

1,500,000

4.500%, 

12/25/2033,

Ser.

K160,

Class

A2

1,404,822

Total

11,053,961

Mortgage-Backed

Securities

(36.4%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

1,701,719

3.000%, 

2/1/2050

1,424,760

1,273,293

2.500%, 

5/1/2051

1,016,153

669,066

3.500%, 

5/1/2052

576,154

917,698

4.000%, 

5/1/2052

823,618

2,451,514

3.500%, 

6/1/2052

2,112,617

61,388

5.000%, 

7/1/2053

58,110

927,708

3.500%, 

8/1/2052

802,814

Federal

Home

Loan

Mortgage

Corporation

Gold

15-Yr.

Pass

Through

335,873

2.500%, 

7/1/2030

306,151

Federal

National

Mortgage

Association

Conventional

20-Yr.

Pass

Through

1,074,217

3.500%, 

5/1/2040

954,308

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

2,178,244

3.000%, 

1/1/2052

1,813,385

Principal

Amount

Long-Term

Fixed

Income

(98.5%)

Value

Mortgage-Backed

Securities

(36.4%)

-

continued

$

80,100

2.000%, 

2/1/2051

$

61,350

41,665

2.000%, 

2/1/2051

31,863

1,345,862

2.500%, 

2/1/2051

1,076,301

810,410

2.500%, 

2/1/2051

649,399

2,209,800

2.000%, 

3/1/2051

1,688,880

2,253,629

3.000%, 

3/1/2052

1,868,955

1,102,086

2.000%, 

4/1/2051

842,173

1,328,185

3.000%, 

4/1/2051

1,102,687

4,764,867

2.000%, 

4/1/2052

3,644,616

1,369,892

3.000%, 

5/1/2050

1,146,207

82,677

2.000%, 

5/1/2051

63,054

1,172,662

3.000%, 

5/1/2051

985,854

931,803

3.000%, 

6/1/2050

787,092

2,079,727

2.500%, 

7/1/2051

1,660,179

469,477

3.500%, 

7/1/2051

410,517

820,456

3.500%, 

8/1/2050

718,174

815,994

3.500%, 

9/1/2052

705,539

1,273,616

4.500%, 

9/1/2053

1,170,743

1,386,490

4.000%, 

10/1/2052

1,238,426

95,197

2.000%, 

11/1/2051

72,690

355,056

2.000%, 

12/1/2050

271,953

2,230,132

2.500%, 

12/1/2051

1,782,014

4,368,040

4.500%, 

12/1/2052

4,028,327

1,800,000

6.000%, 

10/1/2041

d

1,776,375

1,950,000

4.000%, 

10/1/2048

d

1,735,957

2,175,000

4.500%, 

10/1/2048

d

1,996,922

40,000

5.000%, 

10/1/2048

d

37,738

Federal

National

Mortgage

Association

Conventional

40-Yr.

Pass

Through

1,621,171

2.500%, 

3/1/2062

1,244,178

563,585

3.500%, 

7/1/2061

479,336

703,366

4.000%, 

12/1/2061

626,423

Government

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

700,000

4.500%, 

10/1/2053

d

646,652

8,550,000

5.000%, 

10/1/2053

d

8,101,793

6,750,000

5.500%, 

10/1/2053

d

6,550,137

Total

59,090,574

U.S.

Government

&

Agencies

(34.4%)

Federal

Farm

Credit

Bank

1,250,000

1.320%, 

3/18/2030

1,005,005

Federal

Home

Loan

Bank

2,050,000

5.900%, 

3/10/2043

1,964,697

Tennessee

Valley

Authority

1,115,000

5.250%, 

9/15/2039

1,090,794

U.S.

Treasury

Bonds

1,265,000

1.375%, 

8/15/2050

617,280

700,000

3.875%, 

2/15/2043

609,219

4,180,000

2.500%, 

5/15/2046

2,799,784

3,500,000

2.875%, 

5/15/2049

2,496,758

U.S.

Treasury

Notes

6,850,000

2.250%, 

11/15/2024

6,617,207

1,300,000

4.250%, 

12/31/2024

1,282,480

4,400,000

0.250%, 

8/31/2025

4,014,828

525,000

2.625%, 

1/31/2026

498,319

8,000,000

4.625%, 

3/15/2026

7,944,375

2,000,000

3.750%, 

4/15/2026

1,945,313

1,000,000

0.625%, 

11/30/2027

848,008

10,450,000

3.625%, 

3/31/2028

10,018,121

5,340,000

2.625%, 

2/15/2029

4,830,614

Government

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

116

Principal

Amount

Long-Term

Fixed

Income

(98.5%)

Value

U.S.

Government

&

Agencies

(34.4%)

-

continued

$

3,530,000

1.500%, 

2/15/2030

$

2,926,039

3,325,000

3.500%, 

2/15/2033

3,050,688

1,325,000

3.875%, 

8/15/2033

1,251,918

Total

55,811,447

Total

Long-Term

Fixed

Income

(cost

$176,692,927)

159,811,813

Shares

or

Principal

Amount

Short-Term

Investments

(

14

.1

%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

400,000

5.300%,

12/6/2023

e,f

396,301

Thrivent

Core

Short-Term

Reserve

Fund

2,220,358

5.650%

22,203,581

U.S.

Treasury

Bills

300,000

5.307%,

12/14/2023

e,g

296,776

Total

Short-Term

Investments

(cost

$22,874,735)

22,896,658

Total

Investments

(cost

$199,567,662)

112.6%

$

182,708,471

Other

Assets

and

Liabilities,

Net

(12.6%)

(

20,483,323

)

Total

Net

Assets

100.0%

$

162,225,148

a

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$9,423,162

or

5.8%

of

total

net

assets.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

September

29,

2023.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

d

Denotes

investments

purchased

on

a

when-issued

or

delayed-delivery

basis.

e

The

interest

rate

shown

reflects

the

yield.

f

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

g

At

September

29,

2023,

$286,883

of

investments

were

segregated

to

cover

exposure

to

a

counterparty

for

margin

on

open

mortgage-backed

security

transactions.

Definitions:

HECM

-

Home

Equity

Conversion

Mortgage

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

SCRT

-

Seasoned

Credit

Risk

Transfer

Ser.

-

Series

SLST

-

Seasoned

Loans

Structured

Transactions

Reference

Rate

Index:

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

SOFR30A

-

Secured

Overnight

Financing

Rate

30

Year

Average

TSFR1M

-

CME

Term

SOFR

1

Month

Government

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

117

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Government

Bond

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Long-Term

Fixed

Income

Asset-Backed

Securities

9,198,948

–

9,198,948

–

Collateralized

Mortgage

Obligations

24,656,883

–

24,656,883

–

Commercial

Mortgage-Backed

Securities

11,053,961

–

11,053,961

–

Mortgage-Backed

Securities

59,090,574

–

59,090,574

–

U.S.

Government

&

Agencies

55,811,447

–

55,811,447

–

Short-Term

Investments

693,077

–

693,077

–

Subtotal

Investments

in

Securities

$

160,504,890

$

–

$

160,504,890

$

–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

22,203,581

Subtotal

Other

Investments

$

22,203,581

Total

Investments

at

Value

$

182,708,471

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Government

Bond

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

73,289

73,289

–

–

Total

Asset

Derivatives

$

73,289

$

73,289

$

–

$

–

Liability

Derivatives

Futures

Contracts

298,064

298,064

–

–

Total

Liability

Derivatives

$

298,064

$

298,064

$

–

$

–

The

following

table

presents

Government

Bond

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$396,301

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Amount

Value

and

Unrealized

CBOT

10-Yr.

U.S.

Treasury

Note

10

December

2023

$

1,103,621

(

$

22,997

)

CBOT

2-Yr.

U.S.

Treasury

Note

25

December

2023

5,090,300

(

22,526

)

CBOT

5-Yr.

U.S.

Treasury

Note

122

December

2023

12,994,064

(

140,219

)

CBOT

U.S.

Long

Bond

17

December

2023

2,046,603

(

112,322

)

Total

Futures

Long

Contracts

$

21,234,588

(

$

298,064

)

CME

Ultra

Long

Term

U.S.

Treasury

Bond

(

8

)

December

2023

(

$

1,022,789

)

$

73,289

Total

Futures

Short

Contracts

(

$

1,022,789

)

$

73,289

Total

Futures

Contracts

$

20,211,799

(

$

224,775

)

Government

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

118

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Government

Bond

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$

18,252

$

62,729

$

58,777

$

22,204

2,220

13.7%

Total

Affiliated

Short-Term

Investments

18,252

22,204

13.7

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

214

109

323

–

–

–

Total

Collateral

Held

for

Securities

Loaned

214

–

–

Total

Value

$

18,466

$

22,204

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$16

($16)

$

–

$

625

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$

625

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

0

Total

Affiliated

Income

from

Securities

Loaned,

Net

$

0

Total

Value

$16

($16)

$

–

Healthcare

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

119

a

Shares

Common

Stock

(

99

.7

%

)

Value

Biotechnology

(15.4%)

79,970

AbbVie,

Inc.

$

11,920,328

20,083

Amgen,

Inc.

5,397,507

16,440

Biogen,

Inc.

a

4,225,244

113,641

Gilead

Sciences,

Inc.

8,516,257

46,523

Halozyme

Therapeutics,

Inc.

a

1,777,179

6,139

Regeneron

Pharmaceuticals,

Inc.

a

5,052,152

12,110

Vertex

Pharmaceuticals,

Inc.

a

4,211,131

Total

41,099,798

Consumer

Staples

(0.4%)

55,762

Kenvue,

Inc.

1,119,701

Total

1,119,701

Health

Care

Distributors

(1.5%)

12,843

Cencora,

Inc.

2,311,355

3,922

McKesson

Corporation

1,705,481

Total

4,016,836

Health

Care

Equipment

(16.2%)

101,897

Abbott

Laboratories

9,868,724

7,266

ABIOMED,

Inc.,

CVR

a,b

6,670

29,962

Baxter

International,

Inc.

1,130,766

82,773

Boston

Scientific

Corporation

a

4,370,414

38,144

Dexcom,

Inc.

a

3,558,835

21,107

Edwards

Lifesciences

Corporation

a

1,462,293

35,833

Envista

Holdings

Corporation

a

999,024

4,295

IDEXX

Laboratories,

Inc.

a

1,878,075

25,609

Intuitive

Surgical,

Inc.

a

7,485,255

38,324

Medtronic

plc

3,003,069

22,051

QuidelOrtho

Corporation

a

1,610,605

4,824

ShockWave

Medical,

Inc.

a

960,458

9,183

Stryker

Corporation

2,509,438

37,571

Zimmer

Biomet

Holdings,

Inc.

4,216,218

Total

43,059,844

Health

Care

Facilities

(2.4%)

17,499

HCA

Healthcare,

Inc.

4,304,404

15,817

Universal

Health

Services,

Inc.

1,988,671

Total

6,293,075

Health

Care

Services

(5.1%)

5,970

Cigna

Group

1,707,838

102,495

CVS

Health

Corporation

7,156,201

12,601

Laboratory

Corporation

of

America

Holdings

2,533,431

10,292

Quest

Diagnostics,

Inc.

1,254,183

64,141

R1

RCM,

Inc.

a

966,605

Total

13,618,258

Health

Care

Supplies

(2.3%)

6,943

Align

Technology,

Inc.

a

2,119,837

8,838

Cooper

Companies,

Inc.

2,810,572

16,383

Lantheus

Holdings,

Inc.

a

1,138,291

Total

6,068,700

Life

Sciences

Tools

&

Services

(10.7%)

95,331

Avantor,

Inc.

a

2,009,577

35,766

Bio-Techne

Corporation

2,434,592

48,448

Danaher

Corporation

12,019,949

14,875

IQVIA

Holding,

Inc.

a

2,926,656

939

Mettler-Toledo

International,

Inc.

a

1,040,478

16,065

Thermo

Fisher

Scientific,

Inc.

8,131,621

Total

28,562,873

Shares

Common

Stock

(99.7%)

Value

Managed

Health

Care

(14.6%)

21,824

Elevance

Health,

Inc.

$

9,502,606

9,302

Molina

Healthcare,

Inc.

a

3,050,033

30,082

Progyny,

Inc.

a

1,023,390

50,395

UnitedHealth

Group,

Inc.

25,408,655

Total

38,984,684

Pharmaceuticals

(31.1%)

48,946

AstraZeneca

plc

ADR

3,314,623

34,930

Eli

Lilly

&

Company

18,761,951

7,256

Jazz

Pharmaceuticals,

Inc.

a

939,217

143,849

Johnson

&

Johnson

22,404,482

155,382

Merck

&

Company,

Inc.

15,996,577

36,510

Novo

Nordisk

AS

ADR

a

3,320,219

330,101

Pfizer,

Inc.

10,949,450

40,796

Zoetis,

Inc.

7,097,688

Total

82,784,207

Total

Common

Stock

(cost

$215,509,425)

265,607,976

Shares

Short-Term

Investments

(

0

.3

%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

88,357

5.650%

883,573

Total

Short-Term

Investments

(cost

$883,573)

883,573

Total

Investments

(cost

$216,392,998)

100.0%

$

266,491,549

Other

Assets

and

Liabilities,

Net

(<0.1%)

(

107,861

)

Total

Net

Assets

100.0%

$

266,383,688

a

Non-income

producing

security.

b

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

CVR

-

Contingent

Value

Right

plc

-

Public

Limited

Company

Healthcare

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

120

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Healthcare

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Biotechnology

41,099,798

41,099,798

–

–

Consumer

Staples

1,119,701

1,119,701

–

–

Health

Care

Distributors

4,016,836

4,016,836

–

–

Health

Care

Equipment

43,059,844

43,053,174

–

6,670

Health

Care

Facilities

6,293,075

6,293,075

–

–

Health

Care

Services

13,618,258

13,618,258

–

–

Health

Care

Supplies

6,068,700

6,068,700

–

–

Life

Sciences

Tools

&

Services

28,562,873

28,562,873

–

–

Managed

Health

Care

38,984,684

38,984,684

–

–

Pharmaceuticals

82,784,207

82,784,207

–

–

Subtotal

Investments

in

Securities

$

265,607,976

$

265,601,306

$

–

$

6,670

Other

Investments  *

Total

Affiliated

Short-Term

Investments

883,573

Subtotal

Other

Investments

$

883,573

Total

Investments

at

Value

$

266,491,549

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Healthcare

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$

9,908

$

31,082

$

40,106

$

884

88

0.3%

Total

Affiliated

Short-Term

Investments

9,908

884

0.3

Total

Value

$

9,908

$

884

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$3

($3)

$

–

$

176

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$

176

Total

Value

$3

($3)

$

–

High

Yield

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

121

Principal

Amount

Bank

Loans

(

3.3%

)

a

Value

Basic

Materials

(0.4%)

Grinding

Media,

Inc.,

Term

Loan

$

3,368,260

9.530%, 

(TSFR1M

+

4.000%),

10/12/2028

b,c

$

3,334,578

Total

3,334,578

Capital

Goods

(0.2%)

Brand

Industrial

Services,

Inc.,

Term

Loan

1,596,000

10.872%, 

(TSFR1M

+

5.500%),

8/1/2030

b

1,552,605

Total

1,552,605

Communications

Services

(1.1%)

Cengage

Learning,

Inc.,

Term

Loan

1,558,857

10.323%, 

(TSFR3M

+

4.750%),

7/14/2026

b

1,549,504

Clear

Channel

Outdoor

Holdings,

Inc.,

Term

Loan

795,000

9.130%, 

(TSFR3M

+

3.500%),

8/23/2026

b

770,816

DIRECTV

Financing,

LLC,

Term

Loan

2,939,700

10.431%, 

(TSFR1M

+

5.000%),

8/2/2027

b

2,869,471

Gogo

Intermediate

Holdings,

LLC,

Term

Loan

739,777

9.181%, 

(TSFR3M

+

3.750%),

4/30/2028

b

737,269

NEP

Group,

Inc.,

Term

Loan

2,756,693

8.681%, 

(TSFR1M

+

3.250%),

10/20/2025

b

2,658,499

Total

8,585,559

Consumer

Cyclical

(0.2%)

Staples,

Inc.,

Term

Loan

1,657,734

10.634%, 

(LIBOR

3M

+

5.000%),

4/12/2026

b

1,418,888

Total

1,418,888

Consumer

Non-Cyclical

(0.4%)

Alltech

,

Inc.,

Term

Loan

1,534,383

9.431%, 

(TSFR1M

+

4.000%),

10/15/2028

b

1,478,762

Amneal

Pharmaceuticals,

LLC,

Term

Loan

1,057,195

8.931%, 

(TSFR1M

+

3.500%),

5/4/2025

b

1,036,051

City

Brewing

Company,

LLC,

Term

Loan

1,277,193

9.070%, 

(TSFR3M

+

3.500%),

4/5/2028

b

833,368

Total

3,348,181

Energy

(0.2%)

GIP

II

Blue

Holding,

LP,

Term

Loan

1,113,358

9.931%, 

(TSFR3M

+

4.500%),

9/29/2028

b

1,114,749

Total

1,114,749

Principal

Amount

Bank

Loans

(3.3%)

a

Value

Technology

(0.3%)

CoreLogic

,

Inc.,

Term

Loan

$

1,558,200

8.931%, 

(TSFR1M

+

3.500%),

6/2/2028

b

$

1,436,785

Rackspace

Technology

Global,

Inc.,

Term

Loan

1,511,250

8.194%, 

(TSFR3M

+

2.750%),

2/9/2028

b

679,126

Total

2,115,911

Transportation

(0.5%)

AAdvantage

Loyalty

IP,

Ltd.,

Term

Loan

2,489,000

10.338%, 

(TSFR3M

+

4.750%),

4/20/2028

b

2,561,181

Air

Canada,

Term

Loan

1,007,250

9.128%, 

(TSFR3M

+

3.500%),

8/11/2028

b

1,007,038

Total

3,568,219

Total

Bank

Loans

(cost

$26,641,766)

25,038,690

Principal

Amount

Long-Term

Fixed

Income

(

88.5%

)

Value

Basic

Materials

(5.4%)

ACN

113

874

712,

Pty.

Ltd.

3,195,300

11.500%, 

2/15/2018

*,

d,e

3,195

Alcoa

Nederland

Holding

BV

5,000

5.500%, 

12/15/2027

f

4,749

ATI,

Inc.

1,539,000

7.250%, 

8/15/2030

1,527,457

Cascades,

Inc./Cascades

USA,

Inc.

1,066,000

5.125%, 

1/15/2026

f

1,020,433

Chemours

Company

2,790,000

5.750%, 

11/15/2028

f

2,421,440

Cleveland-Cliffs,

Inc.

1,600,000

4.625%, 

3/1/2029

f

1,393,704

1,075,000

4.875%, 

3/1/2031

f

915,420

Consolidated

Energy

Finance

SA

4,014,000

5.625%, 

10/15/2028

f

3,316,567

First

Quantum

Minerals,

Ltd.

1,065,000

6.875%, 

3/1/2026

f

1,033,780

2,020,000

6.875%, 

10/15/2027

f

1,937,942

Hecla

Mining

Company

895,000

7.250%, 

2/15/2028

865,904

Hudbay

Minerals,

Inc.

675,000

4.500%, 

4/1/2026

f

631,514

Illuminate

Buyer,

LLC/Illuminate

Holdings

IV,

Inc.

1,674,000

9.000%, 

7/1/2028

f

1,581,007

Mercer

International,

Inc.

791,000

5.500%, 

1/15/2026

742,952

Methanex

Corporation

2,000,000

4.250%, 

12/1/2024

1,946,554

Mineral

Resources,

Ltd.

471,000

9.250%, 

10/1/2028

f

475,710

Novelis

Corporation

870,000

3.250%, 

11/15/2026

f

776,994

2,050,000

4.750%, 

1/30/2030

f

1,774,172

670,000

3.875%, 

8/15/2031

f

535,052

OCI

NV

2,971,000

4.625%, 

10/15/2025

f

2,808,942

High

Yield

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

122

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Basic

Materials

(5.4%)

-

continued

Olin

Corporation

$

2,820,000

5.625%, 

8/1/2029

g

$

2,653,393

SCIL

IV,

LLC/SCIL

USA

Holdings,

LLC

2,313,000

5.375%, 

11/1/2026

f

2,113,432

SNF

Group

SACA

1,074,000

3.125%, 

3/15/2027

f

950,611

1,133,000

3.375%, 

3/15/2030

f

914,447

SunCoke

Energy,

Inc.

2,307,000

4.875%, 

6/30/2029

f

1,960,316

Taseko

Mines,

Ltd.

2,750,000

7.000%, 

2/15/2026

f

2,568,856

Unifrax

Escrow

Issuer

Corporation

1,878,000

5.250%, 

9/30/2028

f

1,337,408

United

States

Steel

Corporation

2,355,000

6.875%, 

3/1/2029

2,315,095

Total

40,527,046

Capital

Goods

(11.4%)

Abengoa

Abenewco

2

Bis

SA,

Convertible

3,963,663

0.000%,PIK

1.500%,

4/26/2024

*,

d,e,h

19,818

Advanced

Drainage

Systems,

Inc.

2,260,000

5.000%, 

9/30/2027

f

2,111,245

AECOM

1,885,000

5.125%, 

3/15/2027

1,785,291

Amsted

Industries,

Inc.

2,615,000

5.625%, 

7/1/2027

f

2,464,673

2,240,000

4.625%, 

5/15/2030

f

1,896,696

ARD

Finance

SA

1,700,000

6.500%, 

6/30/2027

f

1,282,550

Ardagh

Packaging

Finance

plc/

Ardagh

Holdings

USA,

Inc.

3,108,000

5.250%, 

8/15/2027

f

2,593,610

Berry

Global,

Inc.

1,704,000

4.500%, 

2/15/2026

f

1,614,707

Bombardier,

Inc.

2,070,000

7.875%, 

4/15/2027

f

2,019,796

2,250,000

6.000%, 

2/15/2028

f,g

2,041,191

Builders

FirstSource

,

Inc.

1,070,000

5.000%, 

3/1/2030

f

954,020

Canpack

SA/

Canpack

US,

LLC

1,330,000

3.125%, 

11/1/2025

f

1,226,900

Chart

Industries,

Inc.

2,241,000

7.500%, 

1/1/2030

f

2,253,281

Clean

Harbors,

Inc.

3,330,000

5.125%, 

7/15/2029

f

3,063,287

Clydesdale

Acquisition

Holdings,

Inc.

297,000

6.625%, 

4/15/2029

f

276,147

594,000

8.750%, 

4/15/2030

f

509,450

Cornerstone

Building

Brands,

Inc.

1,534,000

6.125%, 

1/15/2029

f

1,162,916

Covanta

Holding

Corporation

965,000

4.875%, 

12/1/2029

f

791,686

CP

Atlas

Buyer,

Inc.

1,915,000

7.000%, 

12/1/2028

f

1,501,622

Crown

Cork

&

Seal

Company,

Inc.

1,875,000

7.375%, 

12/15/2026

1,903,125

Emerald

Debt

Merger

Sub,

LLC

2,400,000

6.625%, 

12/15/2030

f

2,310,419

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Capital

Goods

(11.4%)

-

continued

GFL

Environmental,

Inc.

$

4,440,000

4.000%, 

8/1/2028

f

$

3,879,524

H&E

Equipment

Services,

Inc.

5,130,000

3.875%, 

12/15/2028

f

4,380,477

Herc

Holdings,

Inc.

5,135,000

5.500%, 

7/15/2027

f

4,855,935

Howmet

Aerospace,

Inc.

3,405,000

3.000%, 

1/15/2029

2,882,194

Mauser

Packaging

Solutions

Holding

Company

1,237,000

9.250%, 

4/15/2027

f

1,081,243

MIWD

Holdco

II,

LLC

969,000

5.500%, 

2/1/2030

f

800,631

Mueller

Water

Products,

Inc.

1,300,000

4.000%, 

6/15/2029

f

1,132,177

Nesco

Holdings

II,

Inc.

2,240,000

5.500%, 

4/15/2029

f

1,965,602

New

Enterprise

Stone

and

Lime

Company,

Inc.

3,153,000

5.250%, 

7/15/2028

f

2,829,093

OI

European

Group

BV

2,725,000

4.750%, 

2/15/2030

f

2,370,357

Owens-Brockway

Glass

Container,

Inc.

1,217,000

6.625%, 

5/13/2027

f

1,186,431

Pactiv

Evergreen

Group

1,670,000

4.375%, 

10/15/2028

f

1,448,992

PGT

Innovations,

Inc.

2,199,000

4.375%, 

10/1/2029

f

2,027,661

Roller

Bearing

Company

of

America,

Inc.

1,672,000

4.375%, 

10/15/2029

f

1,438,191

Sealed

Air

Corporation

1,214,000

6.125%, 

2/1/2028

f

1,175,784

Silgan

Holdings,

Inc.

897,000

4.125%, 

2/1/2028

802,501

SRM

Escrow

Issuer,

LLC

3,730,000

6.000%, 

11/1/2028

f

3,444,510

TransDigm

,

Inc.

4,275,000

6.250%, 

3/15/2026

f

4,200,532

430,000

5.500%, 

11/15/2027

402,630

787,000

6.750%, 

8/15/2028

f

774,793

640,000

4.625%, 

1/15/2029

558,957

1,815,000

4.875%, 

5/1/2029

1,594,645

Triumph

Group,

Inc.

1,570,000

9.000%, 

3/15/2028

f

1,552,426

Trivium

Packaging

Finance

1,210,000

5.500%, 

8/15/2026

f

1,128,244

530,000

8.500%, 

8/15/2027

f

484,359

United

Rentals

North

America,

Inc.

1,700,000

3.875%, 

2/15/2031

1,414,068

WESCO

Distribution,

Inc.

2,635,000

7.250%, 

6/15/2028

f

2,647,784

Total

86,242,171

Communications

Services

(11.2%)

Allen

Media,

LLC/Allen

Media

Co-

Issuer,

Inc.

1,898,000

10.500%, 

2/15/2028

f

1,085,599

Altice

Financing

SA

1,125,000

5.750%, 

8/15/2029

f

921,976

Altice

France

SA/France

1,380,000

5.125%, 

7/15/2029

f

981,050

High

Yield

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

123

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Communications

Services

(11.2%)

-

continued

$

3,179,000

5.500%, 

10/15/2029

f

$

2,286,067

AMC

Networks,

Inc.

900,000

5.000%, 

4/1/2024

887,572

1,790,000

4.250%, 

2/15/2029

1,098,336

C&W

Senior

Financing

DAC

525,000

6.875%, 

9/15/2027

f

461,647

CCO

Holdings,

LLC/CCO

Holdings

Capital

Corporation

3,265,000

5.000%, 

2/1/2028

f

2,965,071

3,380,000

5.375%, 

6/1/2029

f

3,032,564

1,029,000

6.375%, 

9/1/2029

f

959,507

3,610,000

4.750%, 

3/1/2030

f

3,030,419

1,916,000

4.250%, 

2/1/2031

f

1,525,210

843,000

4.750%, 

2/1/2032

f

674,400

Cimpress

plc

1,535,000

7.000%, 

6/15/2026

1,436,622

Clear

Channel

Outdoor

Holdings,

Inc.

461,000

7.500%, 

6/1/2029

f,g

352,496

Clear

Channel

Worldwide

Holdings,

Inc.

2,767,000

5.125%, 

8/15/2027

f

2,457,075

Connect

Finco

SARL/Connect

US

Finco

,

LLC

1,287,000

6.750%, 

10/1/2026

f

1,200,382

CSC

Holdings,

LLC

2,925,000

5.375%, 

2/1/2028

f

2,381,277

1,493,000

6.500%, 

2/1/2029

f

1,236,855

2,365,000

4.125%, 

12/1/2030

f

1,673,744

DIRECTV

Financing,

LLC/DIRECTV

Financing

Co-Obligor,

Inc.

965,000

5.875%, 

8/15/2027

f

853,234

DISH

DBS

Corporation

759,000

5.875%, 

11/15/2024

706,468

1,308,000

5.250%, 

12/1/2026

f

1,111,605

749,000

7.375%, 

7/1/2028

471,937

1,271,000

5.750%, 

12/1/2028

f

977,081

1,144,000

5.125%, 

6/1/2029

634,211

Frontier

Communications

Holdings,

LLC

898,000

5.875%, 

10/15/2027

f

816,702

1,590,000

5.000%, 

5/1/2028

f

1,357,578

869,000

6.750%, 

5/1/2029

f

668,589

561,000

8.750%, 

5/15/2030

f

532,656

GCI,

LLC

3,550,000

4.750%, 

10/15/2028

f

3,061,875

Gray

Escrow

II,

Inc.

5,506,000

5.375%, 

11/15/2031

f

3,603,331

Iliad

Holding

SASU

2,654,000

6.500%, 

10/15/2026

f

2,493,467

Lamar

Media

Corporation

1,222,000

3.625%, 

1/15/2031

995,148

LCPR

Senior

Secured

Financing

DAC

3,707,000

6.750%, 

10/15/2027

f

3,404,879

Level

3

Financing,

Inc.

1,945,000

4.625%, 

9/15/2027

f

1,398,780

2,090,000

4.250%, 

7/1/2028

f

1,302,140

1,050,000

10.500%, 

5/15/2030

f

1,056,917

McGraw-Hill

Education,

Inc.

1,064,000

5.750%, 

8/1/2028

f

917,966

165,000

8.000%, 

8/1/2029

f,g

143,137

News

Corporation

1,794,000

3.875%, 

5/15/2029

f

1,542,840

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Communications

Services

(11.2%)

-

continued

Outfront

Media

Capital,

LLC/

Outfront

Media

Capital

Corporation

$

1,383,000

6.250%, 

6/15/2025

f

$

1,354,960

918,000

4.625%, 

3/15/2030

f,g

721,649

Playtika

Holding

Corporation

1,843,000

4.250%, 

3/15/2029

f

1,538,905

Radiate

Holdco,

LLC/Radiate

Finance,

Inc.

1,055,000

6.500%, 

9/15/2028

f

553,875

Scripps

Escrow

II,

Inc.

852,000

3.875%, 

1/15/2029

f

640,736

Sirius

XM

Radio,

Inc.

720,000

3.125%, 

9/1/2026

f

641,700

365,000

5.000%, 

8/1/2027

f

333,391

1,660,000

4.000%, 

7/15/2028

f

1,416,923

890,000

3.875%, 

9/1/2031

f

674,140

Sprint

Corporation

6,590,000

7.625%, 

2/15/2025

6,686,570

TEGNA,

Inc.

2,422,000

4.625%, 

3/15/2028

2,095,030

Telecom

Italia

Capital

SA

275,000

6.000%, 

9/30/2034

229,290

Telecom

Italia

SPA/Milano

476,000

5.303%, 

5/30/2024

f

467,998

Telesat

Canada/

Telesat

,

LLC

1,025,000

4.875%, 

6/1/2027

f

664,208

465,000

6.500%, 

10/15/2027

f

237,150

United

States

Cellular

Corporation

1,811,000

6.700%, 

12/15/2033

1,761,198

Uniti

Group,

LP/

Uniti

Group

Finance,

Inc./CSL

Capital,

LLC

2,392,000

4.750%, 

4/15/2028

f

1,953,265

Univision

Communications,

Inc.

1,562,000

6.625%, 

6/1/2027

f

1,454,732

VZ

Secured

Financing

BV

2,221,000

5.000%, 

1/15/2032

f

1,744,716

YPSO

Finance

BIS

SA

851,000

10.500%, 

5/15/2027

f

530,753

Total

84,399,599

Consumer

Cyclical

(17.1%)

1011778

B.C.,

ULC/New

Red

Finance,

Inc.

4,415,000

4.375%, 

1/15/2028

f

3,979,452

1,525,000

4.000%, 

10/15/2030

f

1,267,235

Adient

Global

Holdings,

Ltd.

1,212,000

4.875%, 

8/15/2026

f

1,143,086

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation

1,545,000

6.625%, 

7/15/2026

f

1,463,949

1,060,000

6.000%, 

6/1/2029

f

790,217

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation/

Atlas

Luxco

4

SARL

1,125,000

4.625%, 

6/1/2028

f

937,530

1,160,000

4.625%, 

6/1/2028

f

963,028

Allison

Transmission,

Inc.

1,299,000

3.750%, 

1/30/2031

f

1,050,113

American

Axle

&

Manufacturing,

Inc.

2,055,000

6.500%, 

4/1/2027

1,951,078

High

Yield

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

124

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Consumer

Cyclical

(17.1%)

-

continued

Arko

Corporation

$

1,358,000

5.125%, 

11/15/2029

f

$

1,095,281

Ashton

Woods

USA,

LLC/Ashton

Woods

Finance

Company

800,000

4.625%, 

8/1/2029

f

675,092

1,410,000

4.625%, 

4/1/2030

f

1,154,218

Boyd

Gaming

Corporation

2,210,000

4.750%, 

6/15/2031

f

1,880,657

Boyne

USA,

Inc.

824,000

4.750%, 

5/15/2029

f

720,716

Brookfield

Residential

Properties,

Inc./Brookfield

Residential

US,

LLC

135,000

6.250%, 

9/15/2027

f

121,543

1,825,000

5.000%, 

6/15/2029

f

1,502,104

350,000

4.875%, 

2/15/2030

f

284,648

Caesars

Entertainment,

Inc.

3,114,000

6.250%, 

7/1/2025

f

3,071,378

1,420,000

8.125%, 

7/1/2027

f

1,426,769

2,919,000

4.625%, 

10/15/2029

f

2,472,568

Carnival

Corporation

797,000

7.625%, 

3/1/2026

f

775,309

2,212,000

5.750%, 

3/1/2027

f

2,002,356

937,000

4.000%, 

8/1/2028

f

812,451

Cedar

Fair,

LP

3,070,000

5.250%, 

7/15/2029

g

2,668,139

Churchill

Downs,

Inc.

1,065,000

4.750%, 

1/15/2028

f

960,674

899,000

6.750%, 

5/1/2031

f

849,555

Cinemark

USA,

Inc.

2,546,000

5.875%, 

3/15/2026

f,g

2,444,468

Clarios

Global,

LP/

Clarios

US

Finance

Company,

Inc.

1,060,000

8.500%, 

5/15/2027

f,g

1,056,959

2,335,000

6.750%, 

5/15/2028

f

2,279,544

Ford

Motor

Company

3,271,000

3.250%, 

2/12/2032

2,520,840

1,800,000

6.100%, 

8/19/2032

1,695,443

Ford

Motor

Credit

Company,

LLC

2,243,000

2.300%, 

2/10/2025

2,103,860

2,230,000

4.134%, 

8/4/2025

2,114,226

3,120,000

3.375%, 

11/13/2025

2,894,786

390,000

2.700%, 

8/10/2026

348,023

1,700,000

7.350%, 

3/6/2030

1,721,553

Goodyear

Tire

&

Rubber

Company

1,790,000

5.000%, 

7/15/2029

g

1,541,765

Guitar

Center

Escrow

Issuer

II,

Inc.

600,000

8.500%, 

1/15/2026

f,g

521,106

Hanesbrands,

Inc.

1,900,000

4.875%, 

5/15/2026

f,g

1,741,845

Hilton

Domestic

Operating

Company,

Inc.

1,194,000

4.875%, 

1/15/2030

1,086,632

1,395,000

3.625%, 

2/15/2032

f

1,124,643

Hilton

Grand

Vacations

Borrower

Escrow,

LLC/Hilton

Grand

Vacations

Borrower

Escrow,

Inc.

1,912,000

5.000%, 

6/1/2029

f

1,658,557

International

Game

Technology

plc

1,530,000

6.250%, 

1/15/2027

f

1,497,581

835,000

5.250%, 

1/15/2029

f

769,462

Jacobs

Entertainment,

Inc.

1,182,000

6.750%, 

2/15/2029

f

1,049,025

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Consumer

Cyclical

(17.1%)

-

continued

Jaguar

Land

Rover

Automotive

plc

$

2,469,000

5.500%, 

7/15/2029

f

$

2,110,984

KB

Home

1,880,000

6.875%, 

6/15/2027

1,880,105

L

Brands,

Inc.

1,775,000

5.250%, 

2/1/2028

1,642,681

2,485,000

6.625%, 

10/1/2030

f

2,329,712

1,030,000

6.875%, 

11/1/2035

919,876

Light

&

Wonder

International,

Inc.

2,970,000

7.250%, 

11/15/2029

f

2,910,600

Live

Nation

Entertainment,

Inc.

1,560,000

4.750%, 

10/15/2027

f,g

1,428,375

Macy's

Retail

Holdings,

LLC

2,370,000

5.875%, 

4/1/2029

f,g

2,075,148

Mattamy

Group

Corporation

1,800,000

4.625%, 

3/1/2030

f

1,531,943

Michaels

Companies,

Inc.

1,385,000

5.250%, 

5/1/2028

f,g

1,105,368

NCL

Corporation,

Ltd.

404,000

3.625%, 

12/15/2024

f

387,967

1,132,000

5.875%, 

3/15/2026

f

1,045,111

1,708,000

5.875%, 

2/15/2027

f

1,624,254

Nissan

Motor

Company,

Ltd.

473,000

3.522%, 

9/17/2025

f

446,728

460,000

4.345%, 

9/17/2027

f

419,888

423,000

4.810%, 

9/17/2030

f

364,835

Nordstrom,

Inc.

825,000

4.250%, 

8/1/2031

g

598,311

OPENLANE,

Inc.

268,000

5.125%, 

6/1/2025

f

259,279

PENN

Entertainment,

Inc.

1,390,000

4.125%, 

7/1/2029

f,g

1,135,887

PetSmart,

Inc./PetSmart

Finance

Corporation

1,592,000

4.750%, 

2/15/2028

f

1,393,698

3,550,000

7.750%, 

2/15/2029

f

3,308,204

Prime

Security

Services

Borrower,

LLC/Prime

Finance,

Inc.

3,584,000

5.750%, 

4/15/2026

f

3,477,083

1,790,000

3.375%, 

8/31/2027

f

1,568,214

1,641,000

6.250%, 

1/15/2028

f

1,519,843

Realogy

Group,

LLC/Realogy

Group

Co-Issuer

Corporation

3,305,000

5.750%, 

1/15/2029

f

2,389,350

Royal

Caribbean

Cruises,

Ltd.

3,737,000

4.250%, 

7/1/2026

f

3,426,424

1,300,000

5.375%, 

7/15/2027

f

1,203,152

793,000

9.250%, 

1/15/2029

f

837,755

Scientific

Games

Holdings,

LP/

Scientific

Games

US

FinCo

,

Inc.

584,000

6.625%, 

3/1/2030

f

503,700

SeaWorld

Parks

and

Entertainment,

Inc.

1,373,000

5.250%, 

8/15/2029

f

1,206,043

Six

Flags

Theme

Parks,

Inc.

483,000

7.000%, 

7/1/2025

f

481,776

Staples,

Inc.

716,000

10.750%, 

4/15/2027

f

420,328

Station

Casinos,

LLC

800,000

4.500%, 

2/15/2028

f

697,864

700,000

4.625%, 

12/1/2031

f

559,918

Tenneco,

Inc.

1,551,000

8.000%, 

11/17/2028

f

1,262,126

High

Yield

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

125

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Consumer

Cyclical

(17.1%)

-

continued

Tripadvisor

,

Inc.

$

441,000

7.000%, 

7/15/2025

f

$

440,162

Uber

Technologies,

Inc.

1,500,000

6.250%, 

1/15/2028

f

1,466,797

VICI

Properties,

LP/VICI

Note

Company,

Inc.

2,600,000

5.750%, 

2/1/2027

f

2,516,976

2,050,000

3.750%, 

2/15/2027

f

1,860,197

Viking

Cruises,

Ltd.

2,671,000

5.875%, 

9/15/2027

f

2,437,822

Wabash

National

Corporation

2,173,000

4.500%, 

10/15/2028

f

1,830,452

WASH

Multifamily

Acquisition,

Inc.

1,055,000

5.750%, 

4/15/2026

f

985,106

Wyndham

Hotels

&

Resorts,

Inc.

1,500,000

4.375%, 

8/15/2028

f

1,347,274

ZF

North

America

Capital,

Inc.

1,053,000

6.875%, 

4/14/2028

f

1,030,334

Total

128,577,114

Consumer

Non-Cyclical

(12.3%)

1375209

B.C.,

Ltd.

1,482,000

9.000%, 

1/30/2028

f

1,464,917

AdaptHealth

,

LLC

2,805,000

4.625%, 

8/1/2029

f

2,152,853

Albertson's

Companies,

Inc.

3,850,000

5.875%, 

2/15/2028

f

3,705,543

Albertsons

Companies,

Inc./

Safeway,

Inc./New

Albertsons,

LP/Albertsons,

LLC

1,650,000

4.625%, 

1/15/2027

f

1,557,960

1,911,000

3.500%, 

3/15/2029

f

1,629,291

Aramark

Services,

Inc.

2,102,000

5.000%, 

2/1/2028

f

1,944,000

B&G

Foods,

Inc.

1,656,000

5.250%, 

4/1/2025

1,625,070

887,000

5.250%, 

9/15/2027

742,837

1,258,000

8.000%, 

9/15/2028

f

1,259,716

Bausch

&

Lomb

Escrow

Corporation

472,000

8.375%, 

10/1/2028

f

473,402

Bausch

Health

Companies,

Inc.

850,000

5.500%, 

11/1/2025

f

752,769

2,446,000

4.875%, 

6/1/2028

f

1,391,006

1,898,000

11.000%, 

9/30/2028

f

1,287,698

BellRing

Brands,

Inc.

1,257,000

7.000%, 

3/15/2030

f

1,237,717

Catalent

Pharma

Solutions,

Inc.

1,530,000

3.125%, 

2/15/2029

f

1,254,898

Central

Garden

&

Pet

Company

2,690,000

4.125%, 

10/15/2030

2,242,691

Cheplapharm

Arzneimittel

GmbH

290,000

5.500%, 

1/15/2028

f

263,126

Chobani

,

LLC/

Chobani

Finance

Corporation,

Inc.

2,183,000

4.625%, 

11/15/2028

f

1,925,362

CHS/Community

Health

Systems,

Inc.

2,108,000

5.625%, 

3/15/2027

f

1,808,062

455,000

6.000%, 

1/15/2029

f

367,449

492,000

5.250%, 

5/15/2030

f

374,007

1,769,000

4.750%, 

2/15/2031

f

1,251,957

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Consumer

Non-Cyclical

(12.3%)

-

continued

Coty,

Inc./HFC

Prestige

Products,

Inc./HFC

Prestige

International

US,

LLC

$

1,944,000

4.750%, 

1/15/2029

f

$

1,753,041

1,533,000

6.625%, 

7/15/2030

f

1,496,729

Edgewell

Personal

Care

Company

1,500,000

5.500%, 

6/1/2028

f

1,385,625

Embecta

Corporation

1,200,000

5.000%, 

2/15/2030

f

936,000

Encompass

Health

Corporation

3,700,000

4.500%, 

2/1/2028

3,371,133

Energizer

Holdings,

Inc.

2,670,000

4.750%, 

6/15/2028

f

2,306,020

Fortrea

Holdings,

Inc.

1,200,000

7.500%, 

7/1/2030

f

1,167,618

Grifols

SA

2,149,000

4.750%, 

10/15/2028

f

1,832,259

Herbalife

Nutrition,

Ltd./HLF

Financing,

Inc.

1,050,000

7.875%, 

9/1/2025

f

1,000,860

HLF

Financing

SARL,

LLC/

Herbalife

International,

Inc.

2,690,000

4.875%, 

6/1/2029

f

1,909,900

Jazz

Securities

DAC

1,190,000

4.375%, 

1/15/2029

f

1,037,542

Lamb

Weston

Holdings,

Inc.

1,020,000

4.125%, 

1/31/2030

f

872,252

Legacy

LifePoint

Health,

LLC

921,000

4.375%, 

2/15/2027

f

792,060

LifePoint

Health,

Inc.

650,000

11.000%, 

10/15/2030

f

650,000

Mattel,

Inc.

2,665,000

3.375%, 

4/1/2026

f

2,464,324

1,250,000

5.875%, 

12/15/2027

f

1,215,097

ModivCare

Escrow

Issuer,

Inc.

775,000

5.000%, 

10/1/2029

f

556,062

ModivCare

,

Inc.

620,000

5.875%, 

11/15/2025

f

589,347

Mozart

Debt

Merger

Sub,

Inc.

1,953,000

3.875%, 

4/1/2029

f

1,651,110

1,322,000

5.250%, 

10/1/2029

f,g

1,142,600

Organon

&

Company/

Organon

Foreign

Debt

Co-Issuer

BV

2,638,000

4.125%, 

4/30/2028

f

2,292,181

1,257,000

5.125%, 

4/30/2031

f

1,007,300

Owens

&

Minor,

Inc.

2,074,000

6.625%, 

4/1/2030

f,g

1,840,851

Perrigo

Finance

Unlimited

Company

1,822,000

4.375%, 

3/15/2026

1,703,609

Pilgrim's

Pride

Corporation

1,544,000

3.500%, 

3/1/2032

1,193,979

Post

Holdings,

Inc.

1,800,000

4.500%, 

9/15/2031

f

1,498,128

Primo

Water

Holdings,

Inc.

1,810,000

4.375%, 

4/30/2029

f

1,547,550

RegionalCare

Hospital

Partners

Holdings,

Inc./

LifePoint

Health,

Inc.

921,000

9.750%, 

12/1/2026

f

891,629

SEG

Holding,

LLC

3,430,000

5.625%, 

10/15/2028

f

3,438,575

High

Yield

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

126

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Consumer

Non-Cyclical

(12.3%)

-

continued

Simmons

Foods,

Inc.

$

1,808,000

4.625%, 

3/1/2029

f

$

1,483,148

Spectrum

Brands,

Inc.

2,120,000

5.000%, 

10/1/2029

f

1,920,932

770,000

5.500%, 

7/15/2030

f

698,157

1,572,000

3.875%, 

3/15/2031

f

1,275,395

Star

Parent,

Inc.

1,573,000

9.000%, 

10/1/2030

f

1,589,521

Tenet

Healthcare

Corporation

4,345,000

5.125%, 

11/1/2027

4,043,608

1,900,000

6.750%, 

5/15/2031

f

1,832,494

Teva

Pharmaceutical

Finance

Netherlands

III

BV

4,396,000

3.150%, 

10/1/2026

3,918,025

TreeHouse

Foods,

Inc.

2,354,000

4.000%, 

9/1/2028

1,909,682

Total

92,926,674

Energy

(12.5%)

Antero

Midstream

Partners,

LP/

Antero

Midstream

Finance

Corporation

797,000

5.375%, 

6/15/2029

f

729,723

Antero

Resources

Corporation

407,000

5.375%, 

3/1/2030

f

374,712

Archrock

Partners,

LP/

Archrock

Partners

Finance

Corporation

930,000

6.250%, 

4/1/2028

f

865,853

Baytex

Energy

Corporation

1,219,000

8.500%, 

4/30/2030

f

1,233,417

Buckeye

Partners,

LP

925,000

4.125%, 

12/1/2027

812,775

1,730,000

4.500%, 

3/1/2028

f

1,518,073

Callon

Petroleum

Company

2,029,000

6.375%, 

7/1/2026

1,991,284

965,000

7.500%, 

6/15/2030

f,g

935,642

Chesapeake

Energy

Corporation

1,070,000

6.750%, 

4/15/2029

f

1,047,105

Chord

Energy

Corporation

970,000

6.375%, 

6/1/2026

f

951,104

Civitas

Resources,

Inc.

686,000

8.375%, 

7/1/2028

f

698,005

1,101,000

8.750%, 

7/1/2031

f

1,124,637

CNX

Resources

Corporation

818,000

7.375%, 

1/15/2031

f

801,927

Comstock

Resources,

Inc.

2,810,000

5.875%, 

1/15/2030

f

2,432,420

CQP

Holdco,

LP/BIP-V

Chinnok

Holdco,

LLC

2,275,000

5.500%, 

6/15/2031

f

2,016,442

Crescent

Energy

Finance,

LLC

1,685,000

9.250%, 

2/15/2028

f

1,720,301

CrownRock

,

LP/

CrownRock

Finance,

Inc.

1,700,000

5.625%, 

10/15/2025

f

1,672,715

Diamond

Foreign

Asset

Company/

Diamond

Finance,

LLC

629,000

8.500%, 

10/1/2030

f

629,088

DT

Midstream,

Inc.

1,310,000

4.125%, 

6/15/2029

f

1,133,204

610,000

4.375%, 

6/15/2031

f

512,957

Enerflex

,

Ltd.

1,184,000

9.000%, 

10/15/2027

f

1,169,200

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Energy

(12.5%)

-

continued

EnLink

Midstream,

LLC

$

1,979,000

5.625%, 

1/15/2028

f

$

1,871,115

EQM

Midstream

Partners,

LP

4,179,000

4.750%, 

1/15/2031

f

3,597,028

Ferrellgas

,

LP/

Ferrellgas

Finance

Corporation

1,456,000

5.375%, 

4/1/2026

f

1,364,701

Genesis

Energy

LP/Genesis

Energy

Finance

Corporation

2,530,000

8.875%, 

4/15/2030

2,470,264

Harvest

Midstream,

LP

3,188,000

7.500%, 

9/1/2028

f

3,081,622

Hess

Midstream

Operations,

LP

1,605,000

4.250%, 

2/15/2030

f

1,353,397

Hilcorp

Energy

I,

LP/

Hilcorp

Finance

Company

2,274,000

5.750%, 

2/1/2029

f

2,053,408

1,065,000

6.000%, 

2/1/2031

f

936,991

1,350,000

6.250%, 

4/15/2032

f

1,200,352

Howard

Midstream

Energy

Partners,

LLC

2,223,000

6.750%, 

1/15/2027

f

2,111,850

ITT

Holdings,

LLC

1,995,000

6.500%, 

8/1/2029

f

1,691,009

Laredo

Petroleum,

Inc.

2,775,000

7.750%, 

7/31/2029

f

2,581,652

MEG

Energy

Corporation

1,981,000

5.875%, 

2/1/2029

f

1,850,007

Mesquite

Energy,

Inc.

3,740,000

0.000%, 

2/15/2023

d,e

327,250

Murphy

Oil

Corporation

1,495,000

5.875%, 

12/1/2027

1,450,754

Nabors

Industries,

Ltd.

1,770,000

7.250%, 

1/15/2026

f

1,710,262

New

Fortress

Energy,

Inc.

900,000

6.750%, 

9/15/2025

f

859,145

Noble

Finance

II,

LLC

1,498,000

8.000%, 

4/15/2030

f

1,517,591

Northern

Oil

and

Gas,

Inc.

1,522,000

8.750%, 

6/15/2031

f

1,533,416

Northriver

Midstream

Finance,

LP

825,000

5.625%, 

2/15/2026

f

786,184

NuStar

Logistics,

LP

425,000

5.750%, 

10/1/2025

413,313

Patterson-UTI

Energy,

Inc.

1,065,000

3.950%, 

2/1/2028

956,455

530,000

5.150%, 

11/15/2029

483,136

PBF

Holding

Company,

LLC/PBF

Finance

Corporation

1,255,000

6.000%, 

2/15/2028

1,183,678

Permian

Resources

Operating,

LLC

1,415,000

7.000%, 

1/15/2032

f

1,395,491

Precision

Drilling

Corporation

1,405,000

6.875%, 

1/15/2029

f,g

1,330,818

Range

Resources

Corporation

1,745,000

4.750%, 

2/15/2030

f,g

1,548,688

Rockcliff

Energy

II,

LLC

1,703,000

5.500%, 

10/15/2029

f

1,532,642

Rockies

Express

Pipeline,

LLC

314,000

4.950%, 

7/15/2029

f

279,678

SM

Energy

Company

930,000

5.625%, 

6/1/2025

910,191

High

Yield

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

127

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Energy

(12.5%)

-

continued

$

992,000

6.750%, 

9/15/2026

$

973,767

Southwestern

Energy

Company

1,037,000

4.750%, 

2/1/2032

890,045

Suburban

Propane

Partners,

LP/

Suburban

Energy

Finance

Corporation

642,000

5.875%, 

3/1/2027

613,110

Sunoco,

LP/Sunoco

Finance

Corporation

1,200,000

4.500%, 

5/15/2029

1,053,212

850,000

4.500%, 

4/30/2030

736,077

Tallgrass

Energy

Partners

LP/

Tallgrass

Energy

Finance

Corporation

2,845,000

5.500%, 

1/15/2028

f

2,588,949

Targa

Resources

Partners,

LP

1,585,000

6.500%, 

7/15/2027

1,597,284

Teine

Energy,

Ltd.

1,070,000

6.875%, 

4/15/2029

f

981,725

Transocean,

Inc.

3,037,000

11.500%, 

1/30/2027

f

3,185,054

USA

Compression

Partners,

LP/

USA

Compression

Finance

Corporation

1,168,000

6.875%, 

4/1/2026

1,144,106

800,000

6.875%, 

9/1/2027

775,562

Valaris

,

Ltd.

1,539,000

8.375%, 

4/30/2030

f

1,540,154

Venture

Global

Calcasieu

Pass,

LLC

2,490,000

3.875%, 

8/15/2029

f

2,095,281

927,000

6.250%, 

1/15/2030

f

884,237

1,280,000

4.125%, 

8/15/2031

f

1,050,395

Venture

Global

LNG,

Inc.

3,102,000

8.375%, 

6/1/2031

f

3,049,459

Weatherford

International,

Ltd.

2,203,000

8.625%, 

4/30/2030

f

2,219,864

Total

94,130,953

Financials

(7.6%)

Acrisure

,

LLC/

Acrisure

Finance,

Inc.

537,000

6.000%, 

8/1/2029

f

451,265

AerCap

Holdings

NV

2,820,000

5.875%, 

10/10/2079

b

2,742,373

Alliant

Holdings

Intermediate,

LLC/

Alliant

Holdings

Co-Issuer,

Inc.

1,056,000

6.750%, 

10/15/2027

f

982,092

Ally

Financial,

Inc.

390,000

6.700%, 

2/14/2033

338,555

AmWINS

Group,

Inc.

1,377,000

4.875%, 

6/30/2029

f

1,206,567

Avolon

Holdings

Funding,

Ltd.

1,048,000

2.528%, 

11/18/2027

f

884,671

Brookfield

Property

REIT,

Inc./BPR

Cumulus,

LLC/BPR

Nimbus,

LLC/GGSI

Sellco

,

LLC

543,000

4.500%, 

4/1/2027

f

452,515

Burford

Capital

Global

Finance,

LLC

1,850,000

9.250%, 

7/1/2031

f

1,876,784

Castlelake

Aviation

Finance

DAC

822,000

5.000%, 

4/15/2027

f,g

750,780

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Financials

(7.6%)

-

continued

Centene

Corporation

$

962,000

4.625%, 

12/15/2029

$

866,406

920,000

3.375%, 

2/15/2030

767,346

Credit

Acceptance

Corporation

2,097,000

5.125%, 

12/31/2024

f

2,042,425

Drawbridge

Special

Opportunities

Fund,

LP

3,389,000

3.875%, 

2/15/2026

f

3,015,246

Enact

Holdings,

Inc.

1,142,000

6.500%, 

8/15/2025

f

1,124,766

Fortress

Transportation

and

Infrastructure

Investors,

LLC

1,769,000

6.500%, 

10/1/2025

f

1,738,652

700,000

9.750%, 

8/1/2027

f

724,038

Freedom

Mortgage

Corporation

629,000

12.000%, 

10/1/2028

f

639,599

Global

Net

Lease,

Inc./Global

Net

Lease

Operating

Partnership,

LP

2,943,000

3.750%, 

12/15/2027

f

2,278,603

HUB

International,

Ltd.

2,343,000

5.625%, 

12/1/2029

f

2,040,185

Icahn

Enterprises,

LP/Icahn

Enterprises

Finance

Corporation

1,105,000

4.750%, 

9/15/2024

1,064,300

647,000

6.250%, 

5/15/2026

601,091

1,766,000

5.250%, 

5/15/2027

1,552,279

Jefferies

Finance,

LLC/JFIN

Co-

Issuer

Corporation

601,000

5.000%, 

8/15/2028

f

506,046

Molina

Healthcare,

Inc.

1,505,000

4.375%, 

6/15/2028

f

1,348,552

MPT

Operating

Partnership,

LP/

MPT

Finance

Corporation

1,530,000

4.625%, 

8/1/2029

1,083,643

Nationstar

Mortgage

Holdings,

Inc.

1,480,000

6.000%, 

1/15/2027

f

1,398,485

Necessity

Retail

REIT,

Inc./

American

Finance

Operating

Partner,

LP

1,780,000

4.500%, 

9/30/2028

f

1,352,052

NFP

Corporation

919,000

6.875%, 

8/15/2028

f

787,287

Office

Properties

Income

Trust

647,000

2.650%, 

6/15/2026

440,135

OneMain

Finance

Corporation

1,192,000

6.875%, 

3/15/2025

1,182,551

2,310,000

7.125%, 

3/15/2026

2,262,371

441,000

3.500%, 

1/15/2027

377,606

1,298,000

4.000%, 

9/15/2030

973,961

Park

Intermediate

Holdings,

LLC

1,651,000

4.875%, 

5/15/2029

f

1,396,664

PRA

Group,

Inc.

1,517,000

7.375%, 

9/1/2025

f

1,477,188

1,267,000

8.375%, 

2/1/2028

f

1,152,970

Quicken

Loans,

LLC

1,689,000

3.875%, 

3/1/2031

f

1,346,758

RLJ

Lodging

Trust,

LP

736,000

3.750%, 

7/1/2026

f

665,631

1,650,000

4.000%, 

9/15/2029

f

1,351,251

Service

Properties

Trust

1,758,000

4.650%, 

3/15/2024

1,734,035

480,000

4.350%, 

10/1/2024

460,466

High

Yield

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

128

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Financials

(7.6%)

-

continued

$

2,240,000

7.500%, 

9/15/2025

$

2,200,655

SLM

Corporation

780,000

4.200%, 

10/29/2025

729,854

Synchrony

Financial

403,000

7.250%, 

2/2/2033

355,693

UBS

Group

AG

1,050,000

2.193%, 

6/5/2026

b,f

976,562

United

Wholesale

Mortgage,

LLC

440,000

5.500%, 

11/15/2025

f

418,518

1,200,000

5.500%, 

4/15/2029

f

1,014,000

USI,

Inc./NY

588,000

6.875%, 

5/1/2025

f

583,471

XHR,

LP

736,000

6.375%, 

8/15/2025

f

722,597

840,000

4.875%, 

6/1/2029

f

714,000

Total

57,153,540

Technology

(5.5%)

AthenaHealth

Group,

Inc.

2,292,000

6.500%, 

2/15/2030

f,g

1,917,275

Cloud

Software

Group,

Inc.

840,000

6.500%, 

3/31/2029

f

742,838

599,000

9.000%, 

9/30/2029

f

520,531

CommScope

Technologies,

LLC

832,000

6.000%, 

6/15/2025

f

792,025

CommScope

,

Inc.

2,330,000

7.125%, 

7/1/2028

f,g

1,394,062

Everi

Holdings,

Inc.

1,065,000

5.000%, 

7/15/2029

f

916,630

Gartner,

Inc.

5,000

3.750%, 

10/1/2030

f

4,196

GTCR

W-2

Merger

Sub,

LLC

1,224,000

7.500%, 

1/15/2031

f,i

1,225,714

II-VI,

Inc.

902,000

5.000%, 

12/15/2029

f,g

782,070

Iron

Mountain,

Inc.

3,415,000

5.250%, 

3/15/2028

f

3,157,092

890,000

5.000%, 

7/15/2028

f

809,500

1,560,000

5.250%, 

7/15/2030

f

1,362,887

1,840,000

4.500%, 

2/15/2031

f

1,513,333

MSCI,

Inc.

2,805,000

3.250%, 

8/15/2033

f

2,158,866

NCR

Corporation

2,097,000

5.750%, 

9/1/2027

f

2,112,610

2,265,000

5.125%, 

4/15/2029

f

1,995,598

Open

Text

Corporation

2,284,000

3.875%, 

12/1/2029

f

1,877,490

1,578,000

4.125%, 

2/15/2030

f

1,320,157

PTC,

Inc.

390,000

3.625%, 

2/15/2025

f

374,802

1,045,000

4.000%, 

2/15/2028

f

936,581

Rackspace

Technology

Global,

Inc.

1,035,000

3.500%, 

2/15/2028

f

483,161

855,000

5.375%, 

12/1/2028

f

286,720

RingCentral,

Inc.

1,570,000

8.500%, 

8/15/2030

f

1,516,620

Seagate

HDD

Cayman

2,483,000

4.091%, 

6/1/2029

2,141,963

Sensata

Technologies

BV

3,200,000

4.000%, 

4/15/2029

f

2,755,513

Sensata

Technologies,

Inc.

1,275,000

3.750%, 

2/15/2031

f

1,031,889

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Technology

(5.5%)

-

continued

Shift4

Payments,

LLC/Shift4

Payments

Finance

Sub,

Inc.

$

960,000

4.625%, 

11/1/2026

f

$

905,146

SS&C

Technologies,

Inc.

4,390,000

5.500%, 

9/30/2027

f

4,142,580

Unisys

Corporation

1,690,000

6.875%, 

11/1/2027

f

1,265,388

Viavi

Solutions,

Inc.

1,662,000

3.750%, 

10/1/2029

f

1,351,040

Total

41,794,277

Transportation

(2.7%)

Allegiant

Travel

Company

1,320,000

7.250%, 

8/15/2027

f

1,242,450

American

Airlines

Group,

Inc.

534,000

3.750%, 

3/1/2025

f

505,874

American

Airlines,

Inc.

1,500,000

11.750%, 

7/15/2025

f

1,612,489

1,078,000

7.250%, 

2/15/2028

f

1,030,683

American

Airlines,

Inc./

AAdvantage

Loyalty

IP,

Ltd.

1,470,333

5.500%, 

4/20/2026

f

1,436,020

Avis

Budget

Car

Rental,

LLC/Avis

Budget

Finance,

Inc.

1,004,000

5.375%, 

3/1/2029

f

892,327

Delta

Air

Lines,

Inc.

877,000

7.000%, 

5/1/2025

f

886,521

Hawaiian

Brand

Intellectual

Property,

Ltd.

2,139,000

5.750%, 

1/20/2026

f

1,924,794

Hertz

Corporation

1,556,000

4.625%, 

12/1/2026

f

1,379,005

1,868,000

5.000%, 

12/1/2029

f

1,462,498

Rand

Parent,

LLC

1,564,000

8.500%, 

2/15/2030

f,g

1,446,858

Spirit

Loyalty

Cayman,

Ltd.

450,000

8.000%, 

9/20/2025

f

449,787

United

Airlines,

Inc.

1,165,000

4.375%, 

4/15/2026

f

1,077,381

1,363,000

4.625%, 

4/15/2029

f

1,171,540

VistaJet

Malta

Finance

plc/Vista

Management

Holding,

Inc.

461,000

7.875%, 

5/1/2027

f

397,036

2,300,000

6.375%, 

2/1/2030

f

1,776,416

XPO

Escrow

Sub,

LLC

1,776,000

7.500%, 

11/15/2027

f

1,795,607

Total

20,487,286

Utilities

(2.8%)

Calpine

Corporation

1,290,000

4.500%, 

2/15/2028

f

1,162,582

Edison

International

1,345,000

5.000%, 

12/15/2026

b,j

1,149,538

Leeward

Renewable

Energy

Operations,

LLC

1,065,000

4.250%, 

7/1/2029

f

875,491

NextEra

Energy

Operating

Partners,

LP

2,792,000

3.875%, 

10/15/2026

f

2,527,920

NRG

Energy,

Inc.

1,340,000

5.250%, 

6/15/2029

f

1,182,896

PG&E

Corporation

2,069,000

5.000%, 

7/1/2028

g

1,874,058

High

Yield

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

129

Principal

Amount

Long-Term

Fixed

Income

(88.5%)

Value

Utilities

(2.8%)

-

continued

Sunnova

Energy

Corporation

$

1,070,000

5.875%, 

9/1/2026

f,g

$

917,097

Talen

Energy

Supply,

LLC

1,478,000

8.625%, 

6/1/2030

f

1,515,100

Terraform

Global

Operating,

LLC

2,660,000

6.125%, 

3/1/2026

f

2,610,125

TerraForm

Power

Operating,

LLC

3,345,000

5.000%, 

1/31/2028

f

3,035,588

Vistra

Corporation

2,062,000

7.000%, 

12/15/2026

b,f,j

1,881,575

Vistra

Operations

Company,

LLC

2,437,000

5.000%, 

7/31/2027

f

2,240,550

Total

20,972,520

Total

Long-Term

Fixed

Income

(cost

$737,315,085)

667,211,180

Shares

Collateral

Held

for

Securities

Loaned

(

8.2%

)

Value

61,677,713

Thrivent

Cash

Management

Trust

61,677,713

Total

Collateral

Held

for

Securities

Loaned

(cost

$61,677,713)

61,677,713

Shares

Registered

Investment

Companies

(

5.1%

)

Value

U.S.

Unaffiliated  (5.1%)

398,672

SPDR

Bloomberg

High

Yield

Bond

ETF

g

36,039,949

82,708

SPDR

Bloomberg

Short

Term

High

Yield

Bond

ETF

2,023,037

Total

38,062,986

Total

Registered

Investment

Companies

(cost

$38,832,666)

38,062,986

Shares

Common

Stock

(

0.1%

)

Value

Communications

Services

(0.1%)

85,655

Windstream

Services,

LLC

k

813,722

Total

813,722

Energy

(<0.1%)

12,877

California

Resources

Corporation,

Warrants

(Expires

10/27/2024)

274,409

Total

274,409

Total

Common

Stock

(cost

$844,873)

1,088,131

Shares

or

Principal

Amount

Short-Term

Investments

(

1.2%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

785,166

5.650%

7,851,664

Shares

or

Principal

Amount

Short-Term

Investments

(1.2%)

Value

U.S.

Treasury

Bills

1,200,000

5.254%,

10/19/2023

l,m

$

1,197,002

Total

Short-Term

Investments

(cost

$9,038,742)

9,048,666

Total

Investments

(cost

$874,350,845)

106.4%

$802,127,366

Other

Assets

and

Liabilities,

Net

(6.4%)

(48,124,851)

Total

Net

Assets

100.0%

$754,002,515

a

The

stated

interest

rate

represents

the

weighted

average

of

all

contracts

within

the

bank

loan

facility.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

September

29,

2023.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

Defaulted

security.  Interest

is

not

being

accrued.

e

In

bankruptcy.  Income

is

not

being

accrued

per

the

bankruptcy

agreement

terms.

f

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$538,671,925

or

71.4%

of

total

net

assets.

g

All

or

a

portion

of

the

security

is

on

loan.

h

Denotes

payment-in-kind

security.  The

security

may

pay

an

interest

or

dividend

payment

with

additional

fixed

income

or

equity

securities

in

lieu

of,

or

in

addition

to

a

cash

payment.  The

cash

rate

and/or

payment-in-kind

rate

shown

are

as

of

September

29,

2023.

i

Denotes

investments

purchased

on

a

when-issued

or

delayed-delivery

basis.

j

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

k

Non-income

producing

security.

l

The

interest

rate

shown

reflects

the

yield.

m

All

or

a

portion

of

the

security

is

pledged

as

collateral

under

the

agreement

between

the

counterparty,

the

custodian

and

the

fund

for

open

swap

contracts.

*

Denotes

restricted

securities.

Restricted

securities

are

investment

securities

which

cannot

be

offered

for

public

sale

without

first

being

registered

under

the

Securities

Act

of

1933.

The

value

of

all

restricted

securities

held

in

High

Yield

Portfolio

as

of

September

29,

2023

was

$23,013

or

0.00%

of

total

net

assets.

The

following

table

indicates

the

acquisition

date

and

cost

of

restricted

securities

shown

in

the

schedule

as

of

September

29,

2023.

High

Yield

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

130

Security

Acquisition

Date

Cost

Abengoa

Abenewco

2

Bis

SA,

Convertible,

4/26/2024

4/26/2019

$

563,723

ACN

113

874

712,

Pty.

Ltd.,

2/15/2018

2/9/2011

3,026,704

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

High

Yield

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

25,739,258

Common

Stock

34,234,480

Total

lending

$59,973,738

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$61,677,713

Net

amounts

due

to

counterparty

$1,703,975

Definitions:

ETF

-

Exchange

Traded

Fund

PIK

-

Payment-In-Kind

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Reference

Rate

Index:

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

TSFR1M

-

CME

Term

SOFR

1

Month

TSFR3M

-

CME

Term

SOFR

3

Month

High

Yield

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

131

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

High

Yield

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Bank

Loans

Basic

Materials

3,334,578

–

–

3,334,578

Capital

Goods

1,552,605

–

1,552,605

–

Communications

Services

8,585,559

–

8,585,559

–

Consumer

Cyclical

1,418,888

–

1,418,888

–

Consumer

Non-Cyclical

3,348,181

–

3,348,181

–

Energy

1,114,749

–

1,114,749

–

Technology

2,115,911

–

2,115,911

–

Transportation

3,568,219

–

3,568,219

–

Long-Term

Fixed

Income

Basic

Materials

40,527,046

–

40,527,046

–

Capital

Goods

86,242,171

–

86,242,171

–

Communications

Services

84,399,599

–

84,399,599

–

Consumer

Cyclical

128,577,114

–

128,577,114

–

Consumer

Non-Cyclical

92,926,674

–

92,926,674

–

Energy

94,130,953

–

94,130,953

–

Financials

57,153,540

–

57,153,540

–

Technology

41,794,277

–

41,794,277

–

Transportation

20,487,286

–

20,487,286

–

Utilities

20,972,520

–

20,972,520

–

Registered

Investment

Companies

U.S.

Unaffiliated

38,062,986

38,062,986

–

–

Common

Stock

Communications

Services

813,722

–

813,722

–

Energy

274,409

274,409

–

–

Short-Term

Investments

1,197,002

–

1,197,002

–

Subtotal

Investments

in

Securities

$732,597,989

$38,337,395

$690,926,016

$3,334,578

Other

Investments  *

Total

Affiliated

Short-Term

Investments

7,851,664

Collateral

Held

for

Securities

Loaned

61,677,713

Subtotal

Other

Investments

$69,529,377

Total

Investments

at

Value

$802,127,366

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

High

Yield

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Credit

Default

Swaps

10,240

–

10,240

–

Total

Asset

Derivatives

$10,240

$–

$10,240

$–

High

Yield

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

132

The

following

table

presents

High

Yield

Portfolio's

swaps

contracts

held

as

of

September

29,

2023.

Investments

totaling

$1,197,002

were

pledged

as

collateral

under

the

agreement

between

the

counterparty,

the

custodian

and

the

fund

for

open

swap

contracts.

Credit

Default

Swaps

Buy/Sell

Protection

1

Termination

Date

Notional

Principal

Amount

2

Upfront

Payments/

(Receipts)

Value

3

Unrealized

Gain/(Loss)

CDX

HY

41,

5

Year,

at

5.00%,

Quarterly

Buy

12/20/2028

$

15,800,000

$

–

$

10,240

$

10,240

Total

Credit

Default

Swaps

$–

$10,240

$10,240

1

As

the

buyer

of

protection,

High

Yield

Portfolio

pays

periodic

fees

in

return

for

payment

by

the

seller

which

is

contingent

upon

an

adverse

credit

event

occurring

in

the

underlying

issuer

or

reference

entity.

As

the

seller

of

protection,

High

Yield

Portfolio

collects

periodic

fees

from

the

buyer

and

profits

if

the

credit

of

the

underlying

issuer

or

reference

entity

remains

stable

or

improves

while

the

swap

is

outstanding,

but

the

seller

in

a

credit

default

swap

contract

would

be

required

to

pay

the

amount

of

credit

loss,

determined

as

specified

in

the

agreement,

to

the

buyer

in

the

event

of

an

adverse

credit

event

in

the

reference

entity.

2

The

maximum

potential

amount

of

future

payments

High

Yield

Portfolio

could

be

required

to

make

as

the

seller

or

receive

as

the

buyer

of

protection.

3

The

values

for

credit

indexes

(CDX

or

LCDX)

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

liability

or

profit

for

the

credit

default

swap

contract

had

the

contract

been

closed

as

of

the

reporting

date.

When

protection

has

been

sold,

the

value

of

the

swap

will

increase

when

the

swap

spread

declines

representing

an

improvement

in

the

reference

entity's

credit

worthiness.

The

value

of

the

swap

will

decrease

when

the

swap

spread

increases

representing

a

deterioration

in

the

reference

entity's

credit

worthiness.

When

protection

has

been

purchased,

the

value

of

the

swap

will

increase

when

the

swap

spread

increases

representing

a

deterioration

in

the

reference

entity's

credit

worthiness.

The

value

of

the

swap

will

decrease

when

the

swap

spread

declines

representing

an

improvement

in

the

reference

entity's

credit

worthiness.

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

High

Yield

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$

13,821

$118,179

$124,148

$7,852

785

1.0%

Total

Affiliated

Short-Term

Investments

13,821

7,852

1.0

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

45,244

376,820

360,386

61,678

61,678

8.2

Total

Collateral

Held

for

Securities

Loaned

45,244

61,678

8.2

Total

Value

$59,065

$69,530

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$602

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$602

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

486

Total

Affiliated

Income

from

Securities

Loaned,

Net

$486

Total

Value

$–

$–

$

–

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

133

Principal

Amount

Long-Term

Fixed

Income

(

96.2%

)

Value

Asset-Backed

Securities

(2.6%)

Ares

XL

CLO,

Ltd.

$

4,250,000

7.370%, 

(TSFR3M

+

2.062%),

1/15/2029,

Ser.

2016-40A,

Class

BRR

a,b

$

4,174,898

Atrium

IX

3,600,000

7.650%, 

(TSFR3M

+

2.262%),

5/28/2030,

Ser.

9A,

Class

CR2

a,b

3,564,256

Benefit

Street

Partners

CLO

II,

Ltd.

3,600,000

7.470%, 

(TSFR3M

+

2.162%),

7/15/2029,

Ser.

2013-IIA,

Class

BR2

a,b

3,599,878

Galaxy

XXIII

CLO,

Ltd.

1,200,000

7.307%, 

(TSFR3M

+

1.962%),

4/24/2029,

Ser.

2017-23A,

Class

C1R

a,b

1,190,122

GMAC

Mortgage

Corporation

Loan

Trust

110,289

5.934%, 

(TSFR1M

+

0.614%),

8/25/2035,

Ser.

2005-HE1,

Class

A2

b,c

61,131

OCP

CLO,

Ltd.

5,125,000

7.570%, 

(TSFR3M

+

2.262%),

7/15/2030,

Ser.

2017-13A,

Class

BR

a,b

4,955,521

Octagon

Investment

Partners

31,

LLC

3,200,000

8.988%, 

(TSFR3M

+

3.662%),

7/20/2030,

Ser.

2017-1A,

Class

DR

a,b

3,110,839

Park

Blue

CLO

2022-II,

Ltd.

2,600,000

7.876%, 

(TSFR3M

+

2.550%),

1/20/2035,

Ser.

2022-2A,

Class

A1

a,b

2,617,399

Preferred

Term

Securities

XXIII,

Ltd./Preferred

Term

Securities

XXIII,

Inc.

152,538

5.871%, 

(LIBOR

3M

+

0.200%),

12/22/2036,

Ser.

A-FP

a,b

151,377

Sound

Point

CLO

XV,

Ltd.

6,400,000

7.107%, 

(TSFR3M

+

1.762%),

1/23/2029,

Ser.

2017-1A,

Class

BR

a,b

6,384,096

Sound

Point

CLO,

Ltd.

3,200,000

7.838%, 

(TSFR3M

+

2.512%),

1/20/2032,

Ser.

2019-1A,

Class

CR

a,b

3,038,941

Total

32,848,458

Basic

Materials

(1.0%)

Alcoa

Nederland

Holding

BV

240,000

5.500%, 

12/15/2027

a

227,974

Anglo

American

Capital

plc

2,050,000

4.750%, 

4/10/2027

a

1,964,706

Celanese

US

Holdings,

LLC

2,800,000

6.550%, 

11/15/2030

2,740,165

Freeport-McMoRan,

Inc.

320,000

4.125%, 

3/1/2028

293,136

Glencore

Funding,

LLC

1,800,000

3.375%, 

9/23/2051

a

1,080,401

4,559,000

4.000%, 

3/27/2027

a

4,279,323

2,700,000

2.500%, 

9/1/2030

a,d

2,134,186

Principal

Amount

Long-Term

Fixed

Income

(96.2%)

Value

Basic

Materials

(1.0%)

-

continued

Olin

Corporation

$

320,000

5.125%, 

9/15/2027

$

299,203

Total

13,019,094

Capital

Goods

(5.3%)

BAE

Systems

plc

2,550,000

3.400%, 

4/15/2030

a

2,220,488

1,600,000

1.900%, 

2/15/2031

a

1,234,544

Boeing

Company

6,650,000

5.930%, 

5/1/2060

5,971,155

2,800,000

3.250%, 

2/1/2028

2,524,993

1,600,000

5.150%, 

5/1/2030

1,528,798

3,500,000

5.705%, 

5/1/2040

3,229,109

Carrier

Global

Corporation

3,000,000

2.722%, 

2/15/2030

2,500,129

1,550,000

2.700%, 

2/15/2031

1,256,442

CNH

Industrial

Capital,

LLC

2,900,000

4.550%, 

4/10/2028

2,755,255

Howmet

Aerospace,

Inc.

4,750,000

3.000%, 

1/15/2029

4,020,682

2,400,000

5.950%, 

2/1/2037

2,253,444

Huntington

Ingalls

Industries,

Inc.

1,900,000

3.844%, 

5/1/2025

1,835,144

Ingersoll

Rand,

Inc.

700,000

5.400%, 

8/14/2028

688,214

1,000,000

5.700%, 

8/14/2033

965,115

John

Deere

Capital

Corporation

4,500,000

4.900%, 

3/3/2028

4,435,817

4,500,000

5.150%, 

9/8/2033

4,400,561

L3Harris

Technologies,

Inc.

2,750,000

5.400%, 

1/15/2027

2,726,065

Lockheed

Martin

Corporation

1,600,000

5.900%, 

11/15/2063

1,629,649

Northrop

Grumman

Corporation

1,550,000

4.700%, 

3/15/2033

1,447,120

Regal

Rexnord

Corporation

2,850,000

6.050%, 

4/15/2028

a

2,772,100

2,800,000

6.300%, 

2/15/2030

a

2,704,722

Republic

Services,

Inc.

2,900,000

4.875%, 

4/1/2029

2,818,391

RTX

Corporation

2,750,000

3.030%, 

3/15/2052

1,654,204

2,200,000

4.125%, 

11/16/2028

2,051,402

1,925,000

4.450%, 

11/16/2038

1,619,528

Teledyne

Technologies,

Inc.

3,000,000

2.250%, 

4/1/2028

2,581,018

Textron,

Inc.

2,560,000

3.650%, 

3/15/2027

2,390,175

Total

66,214,264

Collateralized

Mortgage

Obligations

(<0.1%)

Wachovia

Mortgage

Loan

Trust,

LLC

52,898

4.624%, 

5/20/2036,

Ser.

2006-A,

Class

2A1

b

49,869

Total

49,869

Communications

Services

(7.2%)

Activision

Blizzard,

Inc.

4,300,000

2.500%, 

9/15/2050

2,560,616

American

Tower

Corporation

1,810,000

3.125%, 

1/15/2027

1,655,135

3,100,000

1.875%, 

10/15/2030

2,345,841

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

134

Principal

Amount

Long-Term

Fixed

Income

(96.2%)

Value

Communications

Services

(7.2%)

-

continued

$

1,400,000

5.650%, 

3/15/2033

$

1,345,774

AT&T,

Inc.

2,250,000

3.650%, 

6/1/2051

1,450,787

2,481,000

4.300%, 

2/15/2030

2,259,202

2,250,000

2.750%, 

6/1/2031

1,800,006

4,487,000

2.550%, 

12/1/2033

3,295,649

3,190,000

4.300%, 

12/15/2042

2,459,735

1,700,000

4.500%, 

3/9/2048

1,285,550

CCO

Holdings,

LLC/CCO

Holdings

Capital

Corporation

2,100,000

5.000%, 

2/1/2028

a

1,907,090

Charter

Communications

Operating,

LLC/Charter

Communications

Operating

Capital

Corporation

3,750,000

4.800%, 

3/1/2050

2,622,247

2,800,000

4.908%, 

7/23/2025

2,736,026

2,450,000

6.384%, 

10/23/2035

2,282,770

2,500,000

3.500%, 

6/1/2041

1,580,947

Comcast

Corporation

1,183,000

2.887%, 

11/1/2051

697,189

2,650,000

4.600%, 

10/15/2038

2,321,943

1,200,000

4.650%, 

7/15/2042

1,010,721

Cox

Communications,

Inc.

2,700,000

3.350%, 

9/15/2026

a

2,512,482

Discovery

Communications,

LLC

1,100,000

4.900%, 

3/11/2026

1,073,622

Meta

Platforms,

Inc.

2,000,000

5.600%, 

5/15/2053

1,892,918

2,500,000

4.800%, 

5/15/2030

2,435,101

2,250,000

4.950%, 

5/15/2033

2,156,285

Netflix,

Inc.

1,200,000

4.875%, 

4/15/2028

1,162,701

3,731,000

5.875%, 

11/15/2028

3,752,121

1,800,000

6.375%, 

5/15/2029

1,858,602

4,300,000

4.875%, 

6/15/2030

a,d

4,070,844

SBA

Communications

Corporation

320,000

3.125%, 

2/1/2029

266,903

Sprint

Capital

Corporation

230,000

6.875%, 

11/15/2028

237,474

6,950,000

8.750%, 

3/15/2032

8,040,080

Sprint

Corporation

570,000

7.125%, 

6/15/2024

573,467

Take-Two

Interactive

Software,

Inc.

2,250,000

5.000%, 

3/28/2026

2,207,775

1,600,000

4.950%, 

3/28/2028

1,546,338

T-Mobile

USA,

Inc.

4,400,000

3.400%, 

10/15/2052

2,748,441

1,800,000

3.500%, 

4/15/2031

1,522,025

1,800,000

3.000%, 

2/15/2041

1,192,764

Verizon

Communications,

Inc.

4,000,000

3.875%, 

3/1/2052

2,816,002

2,600,000

4.000%, 

3/22/2050

1,862,760

2,400,000

2.100%, 

3/22/2028

2,061,456

1,591,000

1.680%, 

10/30/2030

1,209,650

4,200,000

3.400%, 

3/22/2041

2,977,553

Warnermedia

Holdings,

Inc.

3,300,000

5.141%, 

3/15/2052

2,452,034

3,600,000

5.050%, 

3/15/2042

2,784,198

Total

91,030,824

Principal

Amount

Long-Term

Fixed

Income

(96.2%)

Value

Consumer

Cyclical

(5.9%)

Amazon.com,

Inc.

$

1,800,000

3.100%, 

5/12/2051

$

1,187,850

Caesars

Entertainment,

Inc.

320,000

6.250%, 

7/1/2025

a

315,620

Daimler

Trucks

Finance

North

America,

LLC

2,700,000

5.400%, 

9/20/2028

a

2,649,806

4,500,000

2.375%, 

12/14/2028

a

3,821,704

Expedia

Group,

Inc.

5,400,000

3.250%, 

2/15/2030

4,567,337

General

Motors

Company

2,425,000

6.800%, 

10/1/2027

2,474,745

General

Motors

Financial

Company,

Inc.

1,700,000

5.400%, 

4/6/2026

1,664,826

GLP

Capital,

LP

2,500,000

3.250%, 

1/15/2032

1,940,222

Home

Depot,

Inc.

2,680,000

4.250%, 

4/1/2046

2,150,710

Hyatt

Hotels

Corporation

2,200,000

5.750%, 

4/23/2030

2,132,788

Hyundai

Capital

America

2,750,000

1.800%, 

1/10/2028

a

2,303,881

5,600,000

6.200%, 

9/21/2030

a

5,515,801

Kohl's

Corporation

3,150,000

4.625%, 

5/1/2031

2,116,926

3,100,000

5.550%, 

7/17/2045

1,743,347

Lennar

Corporation

2,950,000

4.750%, 

5/30/2025

2,885,951

Lowe's

Companies,

Inc.

1,700,000

5.625%, 

4/15/2053

1,545,158

4,750,000

2.625%, 

4/1/2031

3,842,257

Marriott

International,

Inc./MD

5,650,000

4.625%, 

6/15/2030

5,204,547

McDonald's

Corporation

2,675,000

4.450%, 

3/1/2047

2,178,893

Nissan

Motor

Acceptance

Company,

LLC

1,700,000

7.050%, 

9/15/2028

a

1,699,706

Starbucks

Corporation

4,000,000

4.800%, 

2/15/2033

d

3,763,813

Target

Corporation

2,750,000

2.950%, 

1/15/2052

1,677,635

Toll

Brothers

Finance

Corporation

2,300,000

3.800%, 

11/1/2029

2,005,389

Toyota

Motor

Credit

Corporation

4,500,000

4.550%, 

5/17/2030

4,264,777

VICI

Properties,

LP/VICI

Note

Company,

Inc.

2,400,000

4.625%, 

6/15/2025

a

2,317,656

640,000

4.500%, 

9/1/2026

a

601,251

180,000

4.250%, 

12/1/2026

a

167,715

3,500,000

5.750%, 

2/1/2027

a

3,388,237

1,800,000

3.750%, 

2/15/2027

a

1,633,344

180,000

4.625%, 

12/1/2029

a

159,669

Walmart,

Inc.

2,200,000

4.500%, 

9/9/2052

1,889,806

Total

73,811,367

Consumer

Non-Cyclical

(11.0%)

Abbott

Laboratories

1,440,000

4.750%, 

11/30/2036

1,368,065

2,500,000

6.000%, 

4/1/2039

2,627,438

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

135

Principal

Amount

Long-Term

Fixed

Income

(96.2%)

Value

Consumer

Non-Cyclical

(11.0%)

-

continued

AbbVie,

Inc.

$

5,100,000

4.550%, 

3/15/2035

$

4,638,894

3,100,000

4.300%, 

5/14/2036

2,719,038

1,900,000

4.850%, 

6/15/2044

1,648,678

Amgen,

Inc.

4,000,000

5.650%, 

3/2/2053

3,743,691

2,900,000

5.250%, 

3/2/2033

2,772,281

Anheuser-Busch

Companies,

LLC/Anheuser-Busch

InBev

Worldwide,

Inc.

2,710,000

4.700%, 

2/1/2036

2,483,813

Anheuser-Busch

InBev

Worldwide,

Inc.

2,750,000

3.500%, 

6/1/2030

2,446,693

586,000

4.600%, 

4/15/2048

495,292

2,700,000

4.439%, 

10/6/2048

2,223,230

3,900,000

5.550%, 

1/23/2049

3,735,391

AstraZeneca

plc

3,400,000

2.125%, 

8/6/2050

1,848,827

3,000,000

1.375%, 

8/6/2030

2,326,559

BAT

Capital

Corporation

3,250,000

4.700%, 

4/2/2027

3,111,710

3,500,000

2.259%, 

3/25/2028

2,960,050

2,500,000

6.343%, 

8/2/2030

2,462,439

1,900,000

7.750%, 

10/19/2032

2,006,945

Becton,

Dickinson

and

Company

3,041,000

3.794%, 

5/20/2050

2,191,007

Cargill,

Inc.

1,750,000

3.125%, 

5/25/2051

a

1,122,016

Constellation

Brands,

Inc.

640,000

3.500%, 

5/9/2027

594,017

2,700,000

4.900%, 

5/1/2033

2,505,900

CVS

Health

Corporation

3,250,000

5.625%, 

2/21/2053

2,921,089

1,950,000

4.250%, 

4/1/2050

1,442,711

1,900,000

5.125%, 

2/21/2030

1,827,465

2,800,000

2.125%, 

9/15/2031

2,141,309

Eli

Lilly

&

Company

1,970,000

4.950%, 

2/27/2063

1,787,329

2,250,000

4.700%, 

2/27/2033

2,165,997

HCA,

Inc.

2,500,000

5.875%, 

2/15/2026

2,486,143

1,800,000

5.375%, 

9/1/2026

1,766,519

3,000,000

5.625%, 

9/1/2028

2,925,178

Imperial

Brands

Finance

plc

2,700,000

3.500%, 

7/26/2026

a

2,526,722

JBS

USA

LUX

SA/JBS

USA

Food

Company/JBS

USA

Finance,

Inc.

4,200,000

4.375%, 

2/2/2052

2,791,226

1,200,000

5.500%, 

1/15/2030

1,120,245

2,350,000

3.625%, 

1/15/2032

1,871,094

3,400,000

3.000%, 

5/15/2032

2,564,898

Kenvue,

Inc.

1,750,000

5.050%, 

3/22/2053

a

1,589,565

1,600,000

5.000%, 

3/22/2030

a

1,558,859

Kraft

Foods

Group,

Inc.

230,000

5.000%, 

6/4/2042

199,196

Kraft

Heinz

Foods

Company

1,400,000

5.500%, 

6/1/2050

1,276,256

450,000

3.750%, 

4/1/2030

401,645

1,770,000

4.375%, 

6/1/2046

1,379,258

1,850,000

4.875%, 

10/1/2049

1,544,263

Principal

Amount

Long-Term

Fixed

Income

(96.2%)

Value

Consumer

Non-Cyclical

(11.0%)

-

continued

Mattel,

Inc.

$

3,000,000

5.450%, 

11/1/2041

$

2,474,478

Medtronic,

Inc.

4,200,000

4.375%, 

3/15/2035

3,804,329

Nestle

Holdings,

Inc.

4,250,000

4.950%, 

3/14/2030

a

4,175,040

2,900,000

4.850%, 

3/14/2033

a

2,802,331

Newell

Brands,

Inc.

1,600,000

4.700%, 

4/1/2026

1,507,828

Pfizer

Investment

Enterprises

Pte,

Ltd.

5,825,000

5.300%, 

5/19/2053

5,412,313

4,800,000

4.650%, 

5/19/2030

4,599,861

1,167,000

4.750%, 

5/19/2033

1,103,139

Philip

Morris

International,

Inc.

4,800,000

5.125%, 

2/15/2030

4,603,402

4,500,000

5.500%, 

9/7/2030

4,375,748

2,935,000

5.750%, 

11/17/2032

2,863,752

Reynolds

American,

Inc.

1,560,000

5.850%, 

8/15/2045

1,292,194

Roche

Holdings,

Inc.

3,800,000

2.607%, 

12/13/2051

a

2,272,950

Royalty

Pharma

plc

2,550,000

1.750%, 

9/2/2027

2,175,745

Smithfield

Foods,

Inc.

1,200,000

3.000%, 

10/15/2030

a

917,291

Sysco

Corporation

1,400,000

6.600%, 

4/1/2050

1,445,289

1,000,000

6.600%, 

4/1/2040

1,021,877

Takeda

Pharmaceutical

Company,

Ltd.

2,800,000

3.175%, 

7/9/2050

1,771,834

Total

138,938,342

Energy

(6.4%)

BP

Capital

Markets

America,

Inc.

5,250,000

3.001%, 

3/17/2052

3,219,530

Canadian

Natural

Resources,

Ltd.

700,000

2.950%, 

7/15/2030

580,575

Cheniere

Energy

Partners,

LP

7,310,000

4.500%, 

10/1/2029

6,619,009

2,000,000

4.000%, 

3/1/2031

1,709,872

1,900,000

5.950%, 

6/30/2033

a

1,832,493

Continental

Resources,

Inc.

1,200,000

2.268%, 

11/15/2026

a

1,063,138

3,100,000

4.375%, 

1/15/2028

2,875,245

Energy

Transfer,

LP

1,500,000

6.500%, 

11/15/2026

b,e

1,378,275

3,480,000

4.200%, 

4/15/2027

3,278,974

3,500,000

4.000%, 

10/1/2027

3,249,913

2,900,000

3.750%, 

5/15/2030

2,526,171

4,000,000

6.000%, 

6/15/2048

3,550,143

Enterprise

Products

Operating,

LLC

1,350,000

8.619%, 

(TSFR3M

+

3.248%),

8/16/2077

b

1,333,584

EQT

Corporation

1,992,000

6.125%, 

2/1/2025

1,985,129

Equinor

ASA

2,075,000

3.125%, 

4/6/2030

1,836,430

Halliburton

Company

3,300,000

4.850%, 

11/15/2035

2,967,681

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

136

Principal

Amount

Long-Term

Fixed

Income

(96.2%)

Value

Energy

(6.4%)

-

continued

MPLX,

LP

$

3,250,000

4.800%, 

2/15/2029

$

3,083,479

1,600,000

4.950%, 

9/1/2032

1,457,138

878,000

5.000%, 

3/1/2033

800,066

National

Fuel

Gas

Company

4,186,000

5.500%, 

1/15/2026

4,116,790

Occidental

Petroleum

Corporation

3,500,000

6.625%, 

9/1/2030

3,546,375

ONEOK,

Inc.

900,000

5.650%, 

11/1/2028

888,343

Ovintiv,

Inc.

4,756,000

5.375%, 

1/1/2026

4,689,258

1,600,000

5.650%, 

5/15/2028

1,565,024

Pioneer

Natural

Resources

Company

1,800,000

2.150%, 

1/15/2031

1,420,377

Plains

All

American

Pipeline,

LP/

PAA

Finance

Corporation

2,700,000

3.800%, 

9/15/2030

2,319,158

Schlumberger

Holdings

Corporation

2,750,000

3.900%, 

5/17/2028

a

2,554,390

Targa

Resources

Corporation

2,100,000

6.125%, 

3/15/2033

2,058,631

TransCanada

PipeLines,

Ltd.

800,000

6.203%, 

3/9/2026

798,685

1,750,000

4.625%, 

3/1/2034

1,524,412

Western

Gas

Partners,

LP

4,700,000

4.650%, 

7/1/2026

4,514,520

Williams

Companies,

Inc.

1,700,000

5.300%, 

8/15/2052

1,444,838

2,450,000

7.500%, 

1/15/2031

2,605,451

Williams

Partners,

LP

2,000,000

4.850%, 

3/1/2048

1,597,837

Total

80,990,934

Financials

(33.8%)

AerCap

Holdings

NV

3,200,000

5.875%, 

10/10/2079

b

3,111,913

AerCap

Ireland

Capital

DAC/

AerCap

Global

Aviation

Trust

1,900,000

6.500%, 

7/15/2025

1,902,191

1,500,000

4.625%, 

10/15/2027

1,406,704

2,800,000

3.875%, 

1/23/2028

2,539,310

4,100,000

6.150%, 

9/30/2030

4,038,338

2,400,000

3.400%, 

10/29/2033

1,856,451

Air

Lease

Corporation

4,100,000

4.650%, 

6/15/2026

b,e

3,610,619

1,850,000

3.625%, 

4/1/2027

1,673,870

2,500,000

3.000%, 

2/1/2030

2,056,234

Aircastle,

Ltd.

800,000

2.850%, 

1/26/2028

a

678,786

Allianz

SE

3,200,000

3.200%, 

10/30/2027

a,b,e

2,272,337

Ally

Financial,

Inc.

4,050,000

5.750%, 

11/20/2025

3,933,998

1,750,000

8.000%, 

11/1/2031

1,766,861

American

Homes

4

Rent,

LP

1,550,000

2.375%, 

7/15/2031

1,181,766

ANZ

Bank

New

Zealand,

Ltd.

1,700,000

5.548%, 

8/11/2032

a,b

1,650,637

Principal

Amount

Long-Term

Fixed

Income

(96.2%)

Value

Financials

(33.8%)

-

continued

Aon

Corporation/Aon

Global

Holdings

plc

$

2,000,000

5.350%, 

2/28/2033

$

1,917,312

Ares

Capital

Corporation

3,600,000

3.875%, 

1/15/2026

3,368,572

1,800,000

2.875%, 

6/15/2027

d

1,570,447

Associated

Banc-Corp

2,650,000

4.250%, 

1/15/2025

2,548,432

Australia

&

New

Zealand

Banking

Group,

Ltd.

2,200,000

2.950%, 

7/22/2030

a,b

2,042,247

2,500,000

2.570%, 

11/25/2035

a,b

1,850,790

Avolon

Holdings

Funding,

Ltd.

300,000

5.250%, 

5/15/2024

a

297,115

1,800,000

5.500%, 

1/15/2026

a

1,742,558

1,500,000

4.250%, 

4/15/2026

a

1,409,844

5,400,000

4.375%, 

5/1/2026

a

5,070,256

Banco

Santander

SA

3,200,000

2.746%, 

5/28/2025

3,013,685

3,600,000

5.294%, 

8/18/2027

3,480,747

1,800,000

4.379%, 

4/12/2028

1,661,770

Bank

of

America

Corporation

3,950,000

3.705%, 

4/24/2028

b

3,637,922

1,750,000

5.202%, 

4/25/2029

b

1,685,781

1,800,000

4.271%, 

7/23/2029

b

1,658,960

4,000,000

5.819%, 

9/15/2029

b

3,950,910

1,825,000

3.974%, 

2/7/2030

b

1,639,029

2,720,000

3.194%, 

7/23/2030

b

2,324,984

6,200,000

1.922%, 

10/24/2031

b

4,677,492

3,500,000

2.572%, 

10/20/2032

b

2,689,374

1,800,000

2.972%, 

2/4/2033

b

1,419,399

4,800,000

4.571%, 

4/27/2033

b

4,261,599

1,800,000

4.244%, 

4/24/2038

b

1,480,257

1,860,000

2.831%, 

10/24/2051

b,d

1,093,291

Bank

of

New

York

Mellon

Corporation

2,925,000

5.802%, 

10/25/2028

b

2,919,316

Barclays

plc

3,100,000

6.125%, 

12/15/2025

b,e

2,806,889

2,800,000

5.829%, 

5/9/2027

b

2,749,823

1,280,000

4.836%, 

5/9/2028

1,168,522

2,600,000

2.645%, 

6/24/2031

b

2,010,093

Berkshire

Hathaway

Finance

Corporation

6,000,000

2.850%, 

10/15/2050

3,733,016

1,950,000

4.250%, 

1/15/2049

1,597,721

Blackstone

Private

Credit

Fund

1,600,000

7.050%, 

9/29/2025

1,602,455

Blue

Owl

Credit

Income

Corporation

3,000,000

4.700%, 

2/8/2027

2,729,910

Blue

Owl

Technology

Finance

Corporation

1,500,000

3.750%, 

6/17/2026

a

1,331,209

BNP

Paribas

SA

2,700,000

6.625%, 

3/25/2024

a,b,e

2,662,428

1,650,000

8.500%, 

8/14/2028

a,b,e

1,614,232

BPCE

SA

3,190,000

5.150%, 

7/21/2024

a

3,139,268

Brandywine

Operating

Partnership,

LP

2,533,000

3.950%, 

11/15/2027

2,095,719

Brixmor

Operating

Partnership,

LP

1,500,000

2.250%, 

4/1/2028

1,263,126

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

137

Principal

Amount

Long-Term

Fixed

Income

(96.2%)

Value

Financials

(33.8%)

-

continued

Capital

One

Financial

Corporation

$

2,690,000

4.200%, 

10/29/2025

$

2,565,037

Centene

Corporation

160,000

4.250%, 

12/15/2027

147,506

480,000

4.625%, 

12/15/2029

432,302

3,605,000

3.375%, 

2/15/2030

3,006,830

3,000,000

2.500%, 

3/1/2031

2,304,656

2,200,000

2.625%, 

8/1/2031

1,684,986

Charles

Schwab

Corporation

2,550,000

5.375%, 

6/1/2025

b,e

2,449,856

3,100,000

4.000%, 

12/1/2030

b,e

2,187,270

Citigroup,

Inc.

2,305,000

5.500%, 

9/13/2025

2,277,176

2,490,000

4.450%, 

9/29/2027

2,337,732

2,000,000

3.668%, 

7/24/2028

b

1,834,627

3,000,000

4.075%, 

4/23/2029

b

2,761,023

2,750,000

2.520%, 

11/3/2032

b

2,092,202

5,900,000

3.057%, 

1/25/2033

b

4,664,167

Comerica,

Inc.

2,100,000

5.625%, 

7/1/2025

b,d,e

1,924,179

Corebridge

Financial,

Inc.

1,050,000

3.650%, 

4/5/2027

972,013

1,650,000

3.850%, 

4/5/2029

1,482,168

Corebridge

Global

Funding

1,650,000

5.900%, 

9/19/2028

a

1,644,312

CoreStates

Capital

III

2,440,000

6.196%, 

(TSFR3M

+

0.832%),

2/15/2027

a,b

2,327,673

Corporate

Office

Properties,

LP

2,175,000

2.250%, 

3/15/2026

1,958,161

Credit

Agricole

SA

2,400,000

6.875%, 

9/23/2024

a,b,e

2,341,074

Credit

Suisse

Group

AG

2,450,000

5.250%, 

8/11/2024

a,b,e,f

232,750

2,500,000

7.250%, 

9/12/2025

a,b,e,f

237,500

1,950,000

7.500%, 

7/17/2028

*,b,e,f

185,250

Danske

Bank

AS

2,850,000

3.773%, 

3/28/2025

a,b

2,807,588

Deutsche

Bank

AG

3,000,000

6.000%, 

10/30/2025

b,d,e

2,341,471

Deutsche

Bank

AG/New

York,

NY

1,350,000

3.961%, 

11/26/2025

b

1,303,835

2,200,000

2.311%, 

11/16/2027

b

1,915,725

Discover

Bank

3,490,000

5.974%, 

(USISOA05

+

1.730%),

8/9/2028

b

3,193,458

Discover

Financial

Services

1,300,000

6.700%, 

11/29/2032

1,256,620

Elevance

Health,

Inc.

1,750,000

5.125%, 

2/15/2053

1,545,005

1,250,000

6.100%, 

10/15/2052

1,257,803

2,000,000

4.750%, 

2/15/2033

1,861,571

EPR

Properties

1,976,000

4.950%, 

4/15/2028

1,750,882

3,700,000

3.750%, 

8/15/2029

2,972,291

Extra

Space

Storage,

LP

2,000,000

5.500%, 

7/1/2030

1,933,941

First

Horizon

Bank

2,000,000

5.750%, 

5/1/2030

d

1,790,150

First

Horizon

National

Corporation

2,900,000

4.000%, 

5/26/2025

2,738,108

Principal

Amount

Long-Term

Fixed

Income

(96.2%)

Value

Financials

(33.8%)

-

continued

First-Citizens

Bank

&

Trust

Company

$

5,350,000

6.125%, 

3/9/2028

$

5,313,890

FS

KKR

Capital

Corporation

4,848,000

4.250%, 

2/14/2025

a

4,641,933

Glitnir

HoldCo

ehf.,

Convertible

362

Zero

Coupon, 

12/31/2030

g,h

0

Goldman

Sachs

Group,

Inc.

3,200,000

4.950%, 

2/10/2025

b,e

2,963,275

3,100,000

3.691%, 

6/5/2028

b

2,856,936

4,250,000

3.814%, 

4/23/2029

b

3,859,154

1,100,000

4.223%, 

5/1/2029

b

1,017,532

7,800,000

3.102%, 

2/24/2033

b

6,237,713

HSBC

Holdings

plc

3,470,000

4.041%, 

3/13/2028

b

3,211,298

ING

Groep

NV

2,600,000

6.083%, 

9/11/2027

b

2,588,446

Intercontinental

Exchange,

Inc.

1,200,000

4.950%, 

6/15/2052

1,038,943

1,350,000

4.350%, 

6/15/2029

1,269,900

Invitation

Homes

Operating

Partnership,

LP

1,500,000

2.300%, 

11/15/2028

1,255,030

1,750,000

5.450%, 

8/15/2030

1,666,603

1,500,000

2.000%, 

8/15/2031

1,110,061

J.P.

Morgan

Chase

&

Company

1,850,000

8.884%, 

(TSFR3M

+

3.512%),

11/1/2023

b,d,e

1,853,533

2,200,000

2.956%, 

5/13/2031

b

1,807,574

1,200,000

2.580%, 

4/22/2032

b

946,591

2,900,000

2.545%, 

11/8/2032

b

2,244,293

2,700,000

2.963%, 

1/25/2033

b

2,149,543

4,800,000

4.586%, 

4/26/2033

b

4,326,937

3,700,000

4.912%, 

7/25/2033

b

3,404,184

2,500,000

5.717%, 

9/14/2033

b

2,403,202

KeyBank

NA/Cleveland,

OH

2,800,000

4.150%, 

8/8/2025

2,636,787

KeyCorp

2,900,000

2.250%, 

4/6/2027

2,462,848

Kilroy

Realty,

LP

2,550,000

4.250%, 

8/15/2029

2,184,629

Lloyds

Banking

Group

plc

1,900,000

2.438%, 

2/5/2026

b

1,800,292

910,000

4.650%, 

3/24/2026

871,320

2,000,000

5.985%, 

8/7/2027

b

1,981,990

M&T

Bank

Corporation

2,200,000

3.500%, 

9/1/2026

b,e

1,547,127

Massachusetts

Mutual

Life

Insurance

Company

4,600,000

3.200%, 

12/1/2061

*

2,587,405

Metropolitan

Life

Global

Funding

I

4,450,000

4.300%, 

8/25/2029

a

4,160,830

Mitsubishi

UFJ

Financial

Group,

Inc.

1,165,000

5.541%, 

4/17/2026

b

1,154,767

2,750,000

5.133%, 

7/20/2033

b

2,574,519

Mizuho

Financial

Group,

Inc.

2,100,000

1.979%, 

9/8/2031

b

1,591,078

Morgan

Stanley

1,860,000

8.831%, 

(TSFR3M

+

3.422%),

12/15/2025

b,e

1,905,226

2,510,000

4.350%, 

9/8/2026

2,393,232

1,500,000

5.123%, 

2/1/2029

b

1,444,524

1,300,000

5.449%, 

7/20/2029

b

1,266,809

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

138

Principal

Amount

Long-Term

Fixed

Income

(96.2%)

Value

Financials

(33.8%)

-

continued

$

3,350,000

3.622%, 

4/1/2031

b

$

2,885,937

3,100,000

1.794%, 

2/13/2032

b

2,295,698

3,000,000

2.943%, 

1/21/2033

b

2,362,524

1,050,000

4.889%, 

7/20/2033

b

954,057

3,600,000

6.342%, 

10/18/2033

b

3,620,517

2,100,000

5.297%, 

4/20/2037

b

1,871,133

Nationwide

Building

Society

1,356,000

4.000%, 

9/14/2026

a

1,257,773

Nationwide

Mutual

Insurance

Company

2,725,000

4.350%, 

4/30/2050

a

1,946,910

NatWest

Group

plc

1,000,000

3.754%, 

11/1/2029

b

952,142

3,600,000

3.032%, 

11/28/2035

b

2,709,426

New

York

Life

Global

Funding

3,150,000

4.550%, 

1/28/2033

a

2,887,779

NNN

REIT,

Inc.

1,100,000

5.600%, 

10/15/2033

1,036,457

Nomura

Holdings,

Inc.

3,500,000

5.709%, 

1/9/2026

3,462,967

Omega

Healthcare

Investors,

Inc.

2,333,000

4.750%, 

1/15/2028

2,159,082

1,180,000

3.625%, 

10/1/2029

983,665

Peachtree

Corners

Funding

Trust

2,800,000

3.976%, 

2/15/2025

a

2,703,098

PNC

Financial

Services

Group,

Inc.

3,500,000

6.250%, 

3/15/2030

b,e

3,000,251

4,000,000

5.068%, 

1/24/2034

b

3,627,396

Prologis,

LP

1,750,000

1.750%, 

2/1/2031

1,339,826

Prudential

Financial,

Inc.

1,320,000

5.125%, 

3/1/2052

b

1,136,710

1,725,000

5.200%, 

3/15/2044

b

1,687,703

2,750,000

3.700%, 

10/1/2050

b

2,236,536

Public

Storage

Operating

Company

1,750,000

5.125%, 

1/15/2029

1,722,259

Realty

Income

Corporation

3,100,000

3.400%, 

1/15/2028

2,822,774

2,950,000

4.850%, 

3/15/2030

2,780,225

Regency

Centers,

LP

1,560,000

3.600%, 

2/1/2027

1,458,351

2,250,000

3.700%, 

6/15/2030

1,957,516

Simon

Property

Group,

LP

3,100,000

3.250%, 

9/13/2049

1,919,145

Spirit

Realty,

LP

1,900,000

2.100%, 

3/15/2028

1,599,266

3,250,000

3.400%, 

1/15/2030

2,720,834

1,850,000

3.200%, 

2/15/2031

1,494,397

Standard

Chartered

plc

2,900,000

0.991%, 

1/12/2025

a,b

2,852,002

Sumitomo

Mitsui

Financial

Group,

Inc.

4,100,000

5.808%, 

9/14/2033

3,983,582

Synchrony

Financial

450,000

4.250%, 

8/15/2024

439,471

Synovus

Bank

1,740,000

5.625%, 

2/15/2028

1,576,565

Toronto-Dominion

Bank

1,750,000

5.532%, 

7/17/2026

1,737,245

Truist

Financial

Corporation

1,400,000

6.047%, 

6/8/2027

b

1,384,771

Principal

Amount

Long-Term

Fixed

Income

(96.2%)

Value

Financials

(33.8%)

-

continued

$

1,762,000

5.125%, 

12/15/2027

b,d,e

$

1,353,568

U.S.

Bancorp

2,650,000

5.727%, 

10/21/2026

b

2,627,956

2,850,000

5.775%, 

6/12/2029

b

2,774,133

UBS

Group

AG

1,450,000

4.875%, 

2/12/2027

a,b,e

1,213,958

3,100,000

4.282%, 

1/9/2028

a

2,850,236

6,100,000

3.869%, 

1/12/2029

a,b

5,525,278

250,000

3.091%, 

5/14/2032

a,b

197,462

8,550,000

6.537%, 

8/12/2033

a,b

8,450,079

UnitedHealth

Group,

Inc.

1,700,000

5.875%, 

2/15/2053

1,706,048

3,600,000

4.950%, 

5/15/2062

3,103,224

1,240,000

4.750%, 

7/15/2045

1,076,309

1,975,000

4.450%, 

12/15/2048

1,629,218

Wells

Fargo

&

Company

3,200,000

3.526%, 

3/24/2028

b

2,938,795

3,200,000

2.393%, 

6/2/2028

b

2,806,301

3,500,000

7.625%, 

9/15/2028

b,e

3,528,584

4,250,000

4.478%, 

4/4/2031

b

3,855,801

3,300,000

4.897%, 

7/25/2033

b

2,986,501

Welltower

OP,

LLC

2,500,000

2.050%, 

1/15/2029

2,066,420

Westpac

Banking

Corporation

1,900,000

2.894%, 

2/4/2030

b

1,791,068

3,150,000

2.963%, 

11/16/2040

1,915,770

Willis

North

America,

Inc.

3,600,000

4.650%, 

6/15/2027

3,445,749

Total

426,453,815

Foreign

Government

(0.4%)

Dominican

Republic

Government

International

Bond

950,000

6.000%, 

7/19/2028

a

900,988

4,800,000

6.000%, 

2/22/2033

a

4,232,448

Total

5,133,436

Mortgage-Backed

Securities

(1.8%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

22,847,281

5.500%, 

7/1/2053

22,167,729

Total

22,167,729

Technology

(4.6%)

Apple,

Inc.

1,900,000

2.700%, 

8/5/2051

1,156,952

2,250,000

3.950%, 

8/8/2052

1,764,530

1,920,000

3.750%, 

9/12/2047

1,484,079

Broadcom,

Inc.

2,332,000

3.469%, 

4/15/2034

a

1,831,579

3,600,000

3.137%, 

11/15/2035

a

2,624,694

2,700,000

3.187%, 

11/15/2036

a

1,938,568

2,700,000

4.926%, 

5/15/2037

a

2,327,202

Dell

International,

LLC/EMC

Corporation

2,072,000

6.020%, 

6/15/2026

2,080,079

1,300,000

6.100%, 

7/15/2027

1,316,179

1,087,000

8.350%, 

7/15/2046

1,270,481

Equinix,

Inc.

2,700,000

2.000%, 

5/15/2028

2,277,022

Fiserv,

Inc.

3,000,000

2.650%, 

6/1/2030

2,464,382

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

139

Principal

Amount

Long-Term

Fixed

Income

(96.2%)

Value

Technology

(4.6%)

-

continued

$

3,500,000

5.600%, 

3/2/2033

$

3,392,146

Global

Payments,

Inc.

1,100,000

5.300%, 

8/15/2029

1,049,011

1,700,000

5.400%, 

8/15/2032

1,593,498

Intel

Corporation

1,650,000

4.875%, 

2/10/2028

1,618,592

Marvell

Technology,

Inc.

1,900,000

4.875%, 

6/22/2028

1,815,354

2,100,000

2.950%, 

4/15/2031

1,698,945

Mastercard,

Inc.

1,750,000

4.850%, 

3/9/2033

1,690,288

NXP

BV/NXP

Funding,

LLC

1,800,000

5.550%, 

12/1/2028

1,761,817

NXP

BV/NXP

Funding,

LLC/NXP

USA,

Inc.

1,400,000

3.150%, 

5/1/2027

1,276,557

1,900,000

4.300%, 

6/18/2029

1,740,600

2,650,000

3.250%, 

5/11/2041

1,782,902

Oracle

Corporation

3,600,000

3.950%, 

3/25/2051

2,467,962

4,200,000

6.150%, 

11/9/2029

4,263,644

2,700,000

4.300%, 

7/8/2034

2,322,143

2,650,000

4.000%, 

7/15/2046

1,869,950

Texas

Instruments,

Inc.

2,900,000

5.000%, 

3/14/2053

2,627,613

VMware,

Inc.

3,100,000

2.200%, 

8/15/2031

2,339,357

Total

57,846,126

Transportation

(2.6%)

American

Airlines,

Inc.

3,150,000

11.750%, 

7/15/2025

a

3,386,227

American

Airlines,

Inc./

AAdvantage

Loyalty

IP,

Ltd.

2,035,000

5.500%, 

4/20/2026

a

1,987,509

2,100,000

5.750%, 

4/20/2029

a

1,953,105

Burlington

Northern

Santa

Fe,

LLC

2,500,000

4.700%, 

9/1/2045

2,131,324

2,700,000

4.050%, 

6/15/2048

2,083,916

Canadian

Pacific

Railway

Company

1,900,000

4.700%, 

5/1/2048

1,572,693

Delta

Air

Lines,

Inc./SkyMiles

IP,

Ltd.

4,100,000

4.750%, 

10/20/2028

a

3,896,406

ERAC

USA

Finance,

LLC

3,030,000

4.200%, 

11/1/2046

a

2,330,297

FedEx

Corporation

2,500,000

3.250%, 

5/15/2041

1,724,901

Mileage

Plus

Holdings,

LLC

4,125,000

6.500%, 

6/20/2027

a

4,087,056

Norfolk

Southern

Corporation

5,250,000

4.450%, 

3/1/2033

4,794,150

Southwest

Airlines

Company

2,125,000

2.625%, 

2/10/2030

1,750,762

United

Airlines

Pass

Through

Trust

879,802

3.750%, 

9/3/2026

822,763

United

Airlines,

Inc.

350,000

4.375%, 

4/15/2026

a

323,677

300,000

4.625%, 

4/15/2029

a

257,859

Total

33,102,645

Principal

Amount

Long-Term

Fixed

Income

(96.2%)

Value

U.S.

Government

&

Agencies

(5.5%)

U.S.

Treasury

Bonds

$

31,400,000

3.625%, 

5/15/2053

$

25,998,219

4,500,000

4.125%, 

8/15/2053

4,085,156

4,500,000

2.250%, 

5/15/2041

3,087,422

1,850,000

4.000%, 

11/15/2042

1,642,020

11,000,000

3.875%, 

2/15/2043

9,573,437

5,500,000

4.375%, 

8/15/2043

5,131,328

U.S.

Treasury

Notes

21,330,000

3.500%, 

2/15/2033

19,570,275

Total

69,087,857

Utilities

(8.1%)

AEP

Transmission

Company,

LLC

1,500,000

5.400%, 

3/15/2053

1,393,875

American

Electric

Power

Company,

Inc.

3,200,000

3.875%, 

2/15/2062

b,d

2,604,153

1,750,000

5.625%, 

3/1/2033

1,693,398

American

Water

Capital

Corporation

1,700,000

3.450%, 

5/1/2050

1,157,034

Arizona

Public

Service

Company

2,550,000

5.550%, 

8/1/2033

2,471,898

Berkshire

Hathaway

Energy

Company

2,575,000

4.450%, 

1/15/2049

1,992,288

CenterPoint

Energy

Resources

Corporation

2,800,000

1.750%, 

10/1/2030

2,165,449

CenterPoint

Energy,

Inc.

2,250,000

2.950%, 

3/1/2030

1,885,652

2,150,000

2.650%, 

6/1/2031

1,717,204

Consolidated

Edison

Company

of

New

York,

Inc.

2,376,000

3.850%, 

6/15/2046

1,699,759

2,750,000

4.125%, 

5/15/2049

2,039,747

Constellation

Energy

Generation,

LLC

2,600,000

5.800%, 

3/1/2033

2,535,089

Dominion

Energy,

Inc.

2,250,000

4.650%, 

12/15/2024

b,e

2,059,563

2,650,000

4.350%, 

1/15/2027

b,e

2,288,042

Duke

Energy

Corporation

4,300,000

3.250%, 

1/15/2082

b

3,168,025

2,250,000

3.500%, 

6/15/2051

1,457,641

4,000,000

5.000%, 

8/15/2052

3,325,063

2,840,000

3.150%, 

8/15/2027

2,587,725

2,700,000

3.750%, 

9/1/2046

1,866,226

Edison

International

5,600,000

5.750%, 

6/15/2027

5,548,180

Enel

Finance

America,

LLC

2,900,000

7.100%, 

10/14/2027

a

2,999,960

2,250,000

2.875%, 

7/12/2041

a

1,340,715

Entergy

Corporation

3,000,000

2.400%, 

6/15/2031

2,337,146

Eversource

Energy

1,900,000

5.450%, 

3/1/2028

1,877,986

Exelon

Corporation

1,800,000

4.100%, 

3/15/2052

1,301,722

FirstEnergy

Corporation

3,480,000

4.150%, 

7/15/2027

3,234,558

2,800,000

5.100%, 

7/15/2047

2,376,242

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

140

Principal

Amount

Long-Term

Fixed

Income

(96.2%)

Value

Utilities

(8.1%)

-

continued

FirstEnergy

Transmission,

LLC

$

3,300,000

2.866%, 

9/15/2028

a

$

2,861,107

3,150,000

5.450%, 

7/15/2044

a

2,758,342

Georgia

Power

Company

3,000,000

3.250%, 

3/15/2051

1,900,815

Indiana

Michigan

Power

Company

1,000,000

5.625%, 

4/1/2053

943,219

National

Rural

Utilities

Cooperative

Finance

Corporation

1,600,000

4.400%, 

11/1/2048

1,249,420

Nevada

Power

Company

825,000

6.000%, 

3/15/2054

805,615

NextEra

Energy

Capital

Holdings,

Inc.

2,400,000

5.749%, 

9/1/2025

2,393,261

NiSource

Finance

Corporation

1,920,000

4.375%, 

5/15/2047

1,471,203

NiSource,

Inc.

1,950,000

3.600%, 

5/1/2030

1,698,585

NRG

Energy,

Inc.

1,700,000

4.450%, 

6/15/2029

a

1,474,313

Oncor

Electric

Delivery

Company,

LLC

2,490,000

3.750%, 

4/1/2045

1,840,688

Pacific

Gas

and

Electric

Company

1,900,000

3.300%, 

12/1/2027

1,678,727

4,300,000

4.550%, 

7/1/2030

3,801,022

Public

Service

Company

of

Colorado

1,800,000

4.500%, 

6/1/2052

1,404,375

San

Diego

Gas

&

Electric

Company

2,700,000

4.150%, 

5/15/2048

2,052,169

Sempra

2,700,000

3.250%, 

6/15/2027

2,467,935

Southern

Company

150,000

4.475%, 

8/1/2024

147,824

2,500,000

5.700%, 

10/15/2032

2,455,570

1,700,000

4.000%, 

1/15/2051

b

1,572,470

2,150,000

3.750%, 

9/15/2051

b

1,875,224

Vistra

Operations

Company,

LLC

1,800,000

4.875%, 

5/13/2024

a

1,779,408

1,800,000

5.125%, 

5/13/2025

a

1,753,960

Total

101,509,592

Total

Long-Term

Fixed

Income

(cost

$1,388,009,929)

1,212,204,352

Shares

Collateral

Held

for

Securities

Loaned

(

0.9%

)

Value

11,761,721

Thrivent

Cash

Management

Trust

11,761,721

Total

Collateral

Held

for

Securities

Loaned

(cost

$11,761,721)

11,761,721

Shares

Common

Stock

(

<0.1%

)

Value

Communications

Services

(<0.1%)

426

Windstream

Services,

LLC

i

4,047

Total

4,047

Shares

Common

Stock

(<0.1%)

Value

Financials

(<0.1%)

2,247

Glitnir

HoldCo

ehf.

h,i

$

0

Total

0

Total

Common

Stock

(cost

$5,112)

4,047

Shares

or

Principal

Amount

Short-Term

Investments

(

2.6%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

800,000

5.250%,

10/17/2023

j,k

798,293

500,000

5.270%,

10/25/2023

j,k

498,365

300,000

5.315%,

12/13/2023

j,k

296,929

300,000

5.315%,

12/15/2023

j,k

296,844

Thrivent

Core

Short-Term

Reserve

Fund

2,826,808

5.650%

28,268,079

U.S.

Treasury

Bills

1,900,000

5.307%,

12/14/2023

j,l

1,879,580

Total

Short-Term

Investments

(cost

$32,036,614)

32,038,090

Total

Investments

(cost

$1,431,813,376)

99.7%

$1,256,008,210

Other

Assets

and

Liabilities,

Net

0.3%

4,389,986

Total

Net

Assets

100.0%

$1,260,398,196

a

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$227,970,734

or

18.1%

of

total

net

assets.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

September

29,

2023.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

d

All

or

a

portion

of

the

security

is

on

loan.

e

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

f

Defaulted

security.  Interest

is

not

being

accrued.

g

Principal

amount

is

displayed

in

Euros.

h

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

i

Non-income

producing

security.

j

The

interest

rate

shown

reflects

the

yield.

k

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

l

All

or

a

portion

of

the

security

is

pledged

as

collateral

under

the

agreement

between

the

counterparty,

the

custodian

and

the

fund

for

open

swap

contracts.

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

141

*

Denotes

restricted

securities.

Restricted

securities

are

investment

securities

which

cannot

be

offered

for

public

sale

without

first

being

registered

under

the

Securities

Act

of

1933.

The

value

of

all

restricted

securities

held

in

Income

Portfolio

as

of

September

29,

2023

was

$2,772,655

or

0.22%

of

total

net

assets.

The

following

table

indicates

the

acquisition

date

and

cost

of

restricted

securities

shown

in

the

schedule

as

of

September

29,

2023.

Security

Acquisition

Date

Cost

Credit

Suisse

Group

AG,

12/29/2049

7/9/2018

$

1,950,000

Massachusetts

Mutual

Life

Insurance

Company,

12/1/2061

11/18/2021

4,563,982

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Income

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

11,308,027

Total

lending

$11,308,027

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$11,761,721

Net

amounts

due

to

counterparty

$453,694

Definitions:

CLO

-

Collateralized

Loan

Obligation

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

Reference

Rate

Index:

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

TSFR1M

-

CME

Term

SOFR

1

Month

TSFR3M

-

CME

Term

SOFR

3

Month

USISOA05

-

USD

SOFR

Spread-Adjusted

ICE

Swap

Rate

5

Year

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

142

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Income

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Long-Term

Fixed

Income

Asset-Backed

Securities

32,848,458

–

32,848,458

–

Basic

Materials

13,019,094

–

13,019,094

–

Capital

Goods

66,214,264

–

66,214,264

–

Collateralized

Mortgage

Obligations

49,869

–

49,869

–

Communications

Services

91,030,824

–

91,030,824

–

Consumer

Cyclical

73,811,367

–

73,811,367

–

Consumer

Non-Cyclical

138,938,342

–

138,938,342

–

Energy

80,990,934

–

80,990,934

–

Financials^

426,453,815

1,644,312

424,809,503

0

Foreign

Government

5,133,436

–

5,133,436

–

Mortgage-Backed

Securities

22,167,729

–

22,167,729

–

Technology

57,846,126

–

57,846,126

–

Transportation

33,102,645

–

33,102,645

–

U.S.

Government

&

Agencies

69,087,857

–

69,087,857

–

Utilities

101,509,592

–

101,509,592

–

Common

Stock

Communications

Services

4,047

–

4,047

–

Financials^

–

–

–

0

Short-Term

Investments

3,770,011

–

3,770,011

–

Subtotal

Investments

in

Securities

$1,215,978,410

$1,644,312

$1,214,334,098

$0

Other

Investments  *

Total

Affiliated

Short-Term

Investments

28,268,079

Collateral

Held

for

Securities

Loaned

11,761,721

Subtotal

Other

Investments

$40,029,800

Total

Investments

at

Value

$1,256,008,210

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

^Level

3

security

in

this

section

is

fair

valued

at

<$1.

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Income

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Credit

Default

Swaps

16,851

–

16,851

–

Total

Asset

Derivatives

$16,851

$–

$16,851

$–

Liability

Derivatives

Futures

Contracts

2,467,932

2,467,932

–

–

Total

Liability

Derivatives

$2,467,932

$2,467,932

$–

$–

The

following

table

presents

Income

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$1,890,431

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Amount

Value

and

Unrealized

CBOT

U.S.

Long

Bond

164

December

2023

$

19,743,697

(

$

1,083,572)

Ultra

10-Yr.

U.S.

Treasury

Note

390

December

2023

44,893,735

(

1,384,360)

Total

Futures

Long

Contracts

$

64,637,432

(

$

2,467,932)

Total

Futures

Contracts

$

64,637,432

($2,467,932)

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

143

The

following

table

presents

Income

Portfolio's

swaps

contracts

held

as

of

September

29,

2023.

Investments

totaling

$1,879,580

were

pledged

as

collateral

under

the

agreement

between

the

counterparty,

the

custodian

and

the

fund

for

open

swap

contracts.

Credit

Default

Swaps

Buy/Sell

Protection

1

Termination

Date

Notional

Principal

Amount

2

Upfront

Payments/

(Receipts)

Value

3

Unrealized

Gain/(Loss)

CDX

HY

41,

5

Year,

at

5.00%,

Quarterly

Buy

12/20/2028

$

26,000,000

$

–

$

16,851

$

16,851

Total

Credit

Default

Swaps

$–

$16,851

$16,851

1

As

the

buyer

of

protection,

Income

Portfolio

pays

periodic

fees

in

return

for

payment

by

the

seller

which

is

contingent

upon

an

adverse

credit

event

occurring

in

the

underlying

issuer

or

reference

entity.

As

the

seller

of

protection,

Income

Portfolio

collects

periodic

fees

from

the

buyer

and

profits

if

the

credit

of

the

underlying

issuer

or

reference

entity

remains

stable

or

improves

while

the

swap

is

outstanding,

but

the

seller

in

a

credit

default

swap

contract

would

be

required

to

pay

the

amount

of

credit

loss,

determined

as

specified

in

the

agreement,

to

the

buyer

in

the

event

of

an

adverse

credit

event

in

the

reference

entity.

2

The

maximum

potential

amount

of

future

payments

Income

Portfolio

could

be

required

to

make

as

the

seller

or

receive

as

the

buyer

of

protection.

3

The

values

for

credit

indexes

(CDX

or

LCDX)

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

liability

or

profit

for

the

credit

default

swap

contract

had

the

contract

been

closed

as

of

the

reporting

date.

When

protection

has

been

sold,

the

value

of

the

swap

will

increase

when

the

swap

spread

declines

representing

an

improvement

in

the

reference

entity's

credit

worthiness.

The

value

of

the

swap

will

decrease

when

the

swap

spread

increases

representing

a

deterioration

in

the

reference

entity's

credit

worthiness.

When

protection

has

been

purchased,

the

value

of

the

swap

will

increase

when

the

swap

spread

increases

representing

a

deterioration

in

the

reference

entity's

credit

worthiness.

The

value

of

the

swap

will

decrease

when

the

swap

spread

declines

representing

an

improvement

in

the

reference

entity's

credit

worthiness.

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Income

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$52,657

$265,225

$289,614

$28,268

2,827

2.3%

Total

Affiliated

Short-Term

Investments

52,657

28,268

2.3

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

7,764

99,675

95,677

11,762

11,762

0.9

Total

Collateral

Held

for

Securities

Loaned

7,764

11,762

0.9

Total

Value

$60,421

$40,030

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$0

($0)

$

–

$1,532

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$1,532

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

101

Total

Affiliated

Income

from

Securities

Loaned,

Net

$101

Total

Value

$0

($0)

$

–

International

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

144

Shares

Common

Stock

(

96.1%

)

Value

Australia

(6.0%)

33,287

29Metals,

Ltd.

a

$

14,721

42,564

ALS,

Ltd.

312,630

3,790

Altium,

Ltd.

104,634

903,247

AMP,

Ltd.

724,967

17,185

Ampol,

Ltd.

371,027

11,552

Ansell,

Ltd.

163,794

312,889

Aristocrat

Leisure,

Ltd.

8,174,684

429,561

Aurizon

Holdings,

Ltd.

960,464

242,865

Australia

and

New

Zealand

Banking

Group,

Ltd.

3,983,393

22,306

Australian

Ethical

Investment,

Ltd.

61,849

390,819

BHP

Group,

Ltd.

10,978,437

374,617

BlueScope

Steel,

Ltd.

4,639,072

238,281

Brambles,

Ltd.

2,188,978

40,102

Brickworks,

Ltd.

640,739

41,541

Capricorn

Metals,

Ltd.

a

108,618

99,931

Carsales.com,

Ltd.

1,790,203

274,200

Charter

Hall

Retail

REIT

549,923

240,509

Coles

Group,

Ltd.

2,400,486

87,541

Collins

Foods,

Ltd.

535,322

67,970

Computershare,

Ltd.

1,132,689

86,629

CSL,

Ltd.

13,956,202

55,669

CSR,

Ltd.

200,622

35,007

Data#3,

Ltd.

158,686

99,440

Deterra

Royalties,

Ltd.

303,947

60,018

DEXUS

Property

Group

279,774

6,914

Event

Hospitality

and

Entertainment,

Ltd.

48,594

224,006

GrainCorp,

Ltd.

1,012,235

228,488

Growthpoint

Properties

Australia,

Ltd.

322,403

513,769

GWA

Group,

Ltd.

607,181

11,562

Hansen

Technologies,

Ltd.

39,207

97,154

Helia

Group,

Ltd.

217,610

11,470

HUB24,

Ltd.

238,591

487,851

Humm

Group,

Ltd.

138,012

1,949

Iluka

Resources,

Ltd.

9,518

57,701

Incitec

Pivot,

Ltd.

115,619

52,837

Inghams

Group,

Ltd.

112,313

142,937

IRESS,

Ltd.

531,677

36,716

JB

Hi-Fi,

Ltd.

1,066,437

12,264

Johns

Lyng

Group,

Ltd.

51,200

62,005

Karoon

Gas

Australia,

Ltd.

a

103,880

1,420,259

Lottery

Corporation,

Ltd.

4,292,039

69,824

NRW

Holdings,

Ltd.

120,888

48,747

Nufarm,

Ltd.

147,683

471,079

Orora,

Ltd.

828,731

422,937

Perseus

Mining,

Ltd.

441,606

8,053

PEXA

Group,

Ltd.

a

58,676

65,536

Premier

Investments,

Ltd.

1,045,323

694

REA

Group,

Ltd.

68,541

42,666

Region

RE,

Ltd.

55,083

49,606

Rio

Tinto,

Ltd.

3,577,978

6,490

Sandfire

Resources,

Ltd.

a

25,286

109,470

SEEK,

Ltd.

1,546,494

18,702

Seven

Group

Holdings,

Ltd.

372,515

19,299

Sims,

Ltd.

166,011

5,029

Sonic

Healthcare,

Ltd.

96,029

21,346

Super

Retail

Group,

Ltd.

163,116

345,505

Tabcorp

Holdings,

Ltd.

208,193

106,752

Technology

One,

Ltd.

1,058,634

198,137

Ventia

Services

Group

Pty,

Ltd.

358,579

17,144

Viva

Energy

Group,

Ltd.

b

32,858

155,754

Waypoint

REIT,

Ltd.

224,060

77,576

Wesfarmers,

Ltd.

2,625,483

Shares

Common

Stock

(96.1%)

Value

Australia

(6.0%)

-

continued

58,097

West

African

Resources,

Ltd.

a

$

28,398

Total

76,892,542

Austria

(0.4%)

17,901

BAWAG

Group

AG

b

818,184

58,106

OMV

AG

2,775,409

10,899

Verbund

AG

886,652

25,302

Wienerberger

AG

640,402

Total

5,120,647

Belgium

(0.6%)

8,987

Bekaert

SA

402,339

52,730

Groupe

Bruxelles

Lambert

SA

3,923,653

2,883

Melexis

NV

248,125

20,736

Solvay

SA

2,291,522

801

Titan

Cement

International

SA

14,989

11,542

UCB

SA

945,397

Total

7,826,025

Bermuda

(0.1%)

152,000

Cafe

de

Coral

Holdings,

Ltd.

164,258

44,500

CK

Infrastructure

Holdings,

Ltd.

209,967

22,100

Hongkong

Land

Holdings,

Ltd.

78,815

26,500

Jardine

Matheson

Holdings,

Ltd.

1,230,130

340,000

Road

King

Infrastructure,

Ltd.

a

76,481

212,400

Shanghai

Industrial

Urban

Development

Group,

Ltd.

10,004

Total

1,769,655

Brazil

(0.5%)

8,900

Alupar

Investimento

SA

51,029

19,900

Ambev

SA

51,942

61,500

B3

SA

-

Brasil

Bolsa

Balcao

150,124

44,710

Banco

Bradesco

SA

ADR

127,423

3,000

Banco

BTG

Pactual

SA

18,520

44,400

Banco

do

Brasil

SA

417,364

47,034

Companhia

Energetica

de

Minas

Gerais

ADR

113,822

11,325

Companhia

Siderurgica

Nacional

SA

ADR

27,067

40,800

CPFL

Energia

SA

274,595

17,100

ENGIE

Brasil

Energia

SA

141,044

51,204

Gerdau

SA

ADR

244,243

715,800

Grupo

Casas

Bahia

SA

a

89,714

15,800

Guararapes

Confeccoes

SA

a

16,597

44,200

Hypera

SA

327,638

33,400

Iochpe-Maxion

SA

90,701

58,500

Itau

Unibanco

Holding

SA

ADR

314,145

135,900

Itausa

SA

244,409

10,900

Jalles

Machado

SA

18,649

345

Jalles

Machado

SA,

Common

Receipt

a,c

590

49,000

JBS

S/A

175,956

3,800

Localiza

Rent

a

Car

SA

44,376

27

Localiza

Rent

a

Car

SA,

Rights

a

96

47,000

Metalurgica

Gerdau

SA

104,163

114,678

Petroleo

Brasileiro

SA

786,642

50,654

Petroleo

Brasileiro

SA

ADR

759,304

32,500

Randon

SA

Implementos

e

Participacoes

75,842

49,400

Telefonica

Brasil

SA

422,301

11,032

Telefonica

Brasil

SA

ADR

94,324

158,600

TIM

SA/Brazil

471,709

59,603

Vale

SA

ADR

798,680

International

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

145

Shares

Common

Stock

(96.1%)

Value

Brazil

(0.5%)

-

continued

2,700

WEG

SA

$

19,520

Total

6,472,529

Canada

(8.1%)

59,362

ATCO,

Ltd.

1,503,444

35,158

Bank

of

Montreal

2,965,878

80,027

Bank

of

Nova

Scotia

3,587,001

531,666

Barrick

Gold

Corporation

7,723,004

31,568

Boralex,

Inc.

678,192

2,319

BRP,

Inc.

175,532

76,070

Canadian

Imperial

Bank

of

Commerce

2,936,389

107,956

Canadian

National

Railway

Company

11,690,961

133,945

Canadian

Utilities,

Ltd.

2,830,275

34,458

Canadian

Western

Bank

713,895

29,491

Capital

Power

Corporation

823,338

45,942

CGI,

Inc.

a

4,528,412

14,772

Cogeco

Communications,

Inc.

683,759

33,266

Dream

Industrial

REIT

314,475

43,028

Enbridge,

Inc.

1,427,139

22,345

Finning

International,

Inc.

659,040

83,323

Fortis,

Inc.

3,164,832

9,085

George

Weston,

Ltd.

1,007,527

31,196

Imperial

Oil,

Ltd.

1,921,485

4,481

Intact

Financial

Corporation

653,287

19,725

InterRent

REIT

181,384

12,579

Laurentian

Bank

of

Canada

280,336

24,555

Loblaw

Companies,

Ltd.

2,086,249

236,563

Manulife

Financial

Corporation

4,322,837

64,524

Metro,

Inc./CN

3,351,020

10,002

National

Bank

of

Canada

664,444

1,525

Onex

Corporation

89,631

227,137

Power

Corporation

of

Canada

5,782,733

33,360

Rogers

Communications,

Inc.

1,280,857

75,843

Royal

Bank

of

Canada

6,628,061

27,461

Russel

Metals,

Inc.

768,685

87,157

Shopify,

Inc.

a

4,756,157

14,069

Sun

Life

Financial,

Inc.

686,437

77,380

Superior

Plus

Corporation

584,516

194,349

TC

Energy

Corporation

6,683,631

40,227

Toromont

Industries,

Ltd.

3,276,209

99,161

Toronto-Dominion

Bank

5,974,117

113,875

Tourmaline

Oil

Corporation

5,730,430

49,214

TransAlta

Corporation

428,641

2,021

TransAlta

Renewables,

Inc.

18,287

15,619

West

Fraser

Timber

Company,

Ltd.

1,133,952

Total

104,696,479

Cayman

Islands

(1.4%)

304,300

Alibaba

Group

Holding,

Ltd.

a

3,299,277

16,000

ANTA

Sports

Products,

Ltd.

179,030

46,100

ASMPT,

Ltd.

410,735

7,557

Baidu.com,

Inc.

ADR

a

1,015,283

9,000

China

Mengniu

Dairy

Company,

Ltd.

30,020

138,000

Chow

Tai

Fook

Jewellery

Group,

Ltd.

207,193

154,000

Consun

Pharmaceutical

Group,

Ltd.

99,792

63,000

Geely

Automobile

Holdings,

Ltd.

73,882

186,000

Haidilao

International

Holding,

Ltd.

b

495,938

43,094

Hello

Group,

Inc.

ADR

300,796

14,130

Huazhu

Group,

Ltd.

ADR

a

557,146

16,483

JD.com,

Inc.

239,808

Shares

Common

Stock

(96.1%)

Value

Cayman

Islands

(1.4%)

-

continued

2,077

JOYY,

Inc.

ADR

$

79,155

16,774

KE

Holdings,

Inc.

ADR

260,333

60,100

Kuaishou

Technology

a,b

478,138

89,352

Meituan

a,b

1,293,477

3,947

MINISO

Group

Holding,

Ltd.

ADR

102,227

25,000

NetDragon

Websoft

Holdings,

Ltd.

46,074

7,447

NetEase,

Inc.

ADR

745,892

10,130

PDD

Holdings,

Inc.

ADR

a

993,449

24,000

Seazen

Group,

Ltd.

a

4,362

1,130,500

Shui

On

Land,

Ltd.

102,322

196,000

Sino

Biopharmaceutical,

Ltd.

70,551

126,724

Tencent

Holdings,

Ltd.

4,912,324

69,369

Tencent

Music

Entertainment

Group

ADR

a

442,574

39,500

Texhong

International

Group,

Ltd.

a

21,843

169,600

Tongcheng

Travel

Holdings,

Ltd.

a

370,964

267,000

Topsports

International

Holdings,

Ltd.

b

201,863

12,371

Trip.com

Group,

Ltd.

ADR

a

432,614

210,000

VSTECS

Holdings,

Ltd.

117,740

8,000

Want

Want

China

Holdings,

Ltd.

5,214

286,800

Xiaomi

Corporation

a,b

449,303

33,500

Zhongsheng

Group

Holdings,

Ltd.

93,796

Total

18,133,115

Chile

(<0.1%)

100,496

Cencosud

SA

190,554

1,042,968

Colbun

SA

142,012

34,212

Embotelladora

Andina

SA

76,959

17,826

Empresas

CMPC

SA

32,820

44,656

S.A.C.I.

Falabella

99,782

Total

542,127

China

(1.1%)

657,700

Agricultural

Bank

of

China,

Ltd.

324,465

642,400

Aluminum

Corporation

of

China,

Ltd.,

Class

A

554,011

814,000

Aluminum

Corporation

of

China,

Ltd.,

Class

H

452,809

1,874,500

Bank

of

China,

Ltd.,

Class

A

968,858

736,700

Bank

of

Communications

Company,

Ltd.

582,079

689,400

Baoshan

Iron

&

Steel

Company,

Ltd.

576,054

34,000

Beijing

North

Star

Company,

Ltd.

a

3,554

12,800

Beijing

Tongrentang

Company,

Ltd.

95,999

678,900

BOE

Technology

Group

Company,

Ltd.

359,470

4,000

BYD

Company,

Ltd.,

Class

H

123,241

1,278,000

CGN

Power

Company,

Ltd.

b

330,850

591,000

China

Cinda

Asset

Management

Company,

Ltd.

59,372

57,000

China

Construction

Bank

Corporation

32,043

129,300

China

Merchants

Securities

Company,

Ltd.

248,716

971,100

China

Petroleum

&

Chemical

Corporation,

Class

H

528,167

391,000

China

Railway

Group,

Ltd.

201,082

12,900

China

Resources

Sanjiu

Medical

&

Pharmaceutical

Company,

Ltd.

88,519

86,100

China

State

Construction

Engineering

Corporation,

Ltd.

65,413

68,700

CITIC

Securities

Company,

Ltd.,

Class

A

205,184

International

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

146

Shares

Common

Stock

(96.1%)

Value

China

(1.1%)

-

continued

762,000

CMOC

Group,

Ltd.

$

486,129

953,000

CRRC

Corporation,

Ltd.

459,249

147,500

Focus

Media

Information

Technology

Company,

Ltd.

144,676

264,700

Foxconn

Industrial

Internet

Company,

Ltd.

717,851

37,600

Fuyao

Glass

Industry

Group

Company,

Ltd.,

Class

H

b

171,994

88,400

GF

Securities

Company,

Ltd.,

Class

H

118,110

1,338,300

Greenland

Holdings

Corporation,

Ltd.

a

503,698

79,084

Guangzhou

Baiyunshan

Pharmaceutical

Holdings,

Ltd.

340,198

198,900

Guotai

Junan

Securities

Company,

Ltd.

397,628

51,400

Haier

Smart

Home

Company,

Ltd.,

Class

H

160,654

22,800

Huatai

Securities

Company,

Ltd.

b

29,070

72,300

Jiangxi

Copper

Company,

Ltd.,

Class

A

191,037

365,000

Jiangxi

Copper

Company,

Ltd.,

Class

H

569,344

185,287

Jointown

Pharmaceutical

Group

Company,

Ltd.

274,732

1,141,000

People's

Insurance

Company

(Group)

of

China,

Ltd.

408,174

193,900

PetroChina

Company,

Ltd.,

Class

A

211,904

816,000

PetroChina

Company,

Ltd.,

Class

H

611,537

103,278

Ping

An

Insurance

(Group)

Company

of

China,

Ltd.

585,756

5,000

Shanghai

Pharmaceuticals

Holding

Company,

Ltd.,

Class

A

12,387

44,200

Shanghai

Pharmaceuticals

Holding

Company,

Ltd.,

Class

H

68,820

483,400

Shenwan

Hongyuan

Group

Company,

Ltd.

287,421

288,000

Shenzhen

Overseas

Chinese

Town

Company,

Ltd.

a

167,629

26,300

Shenzhou

International

Group

Holdings,

Ltd.

250,103

7,500

Sichuan

Kelun

Pharmaceutical

Company,

Ltd.

29,963

145,000

Tong

Ren

Tang

Technologies

Company,

Ltd.

114,989

24,000

Tsingtao

Brewery

Company,

Ltd.

195,431

33,920

Vipshop

Holdings,

Ltd.

ADR

a

543,059

130,100

Wanda

Film

Holding

Company,

Ltd.

a

241,351

54,800

Yunnan

Baiyao

Group

Company,

Ltd.

400,738

12,500

Zhongjin

Gold

Corporation,

Ltd.

18,666

Total

14,512,184

Colombia

(<0.1%)

2,269

Bancolombia

SA

17,290

Total

17,290

Cyprus

(<0.1%)

18,642

Ros

Agro

plc

GDR

a,c

0

Total

0

Czech

Republic

(<0.1%)

10,789

Komercni

Banka

AS

313,689

Shares

Common

Stock

(96.1%)

Value

Czech

Republic

(<0.1%)

-

continued

75

Philip

Morris

CR

$

55,780

Total

369,469

Denmark

(3.6%)

38,720

ALK-Abello

AS

a

434,242

26,508

Carlsberg

AS

3,342,261

9,630

Dampskibsselskabet

Norden

AS

534,852

82,503

Danske

Bank

AS

1,914,564

6,232

DFDS

AS

205,440

41,492

DSV

AS

7,731,650

8,249

H

Lundbeck

A/S

38,993

14,179

Jyske

Bank

AS

a

1,034,274

316,795

Novo

Nordisk

AS

28,844,585

14,218

Pandora

AS

1,467,174

943

Per

Aarsleff

Holding

A/S

43,215

2,181

Scandinavian

Tobacco

Group

AS

b

33,222

341

Solar

AS

22,914

19,826

Sydbank

AS

941,103

Total

46,588,489

Egypt

(<0.1%)

69,519

Commercial

International

Bank

Egypt

SAE

GDR

91,626

Total

91,626

Finland

(0.3%)

13,091

Cargotec

Oyj

547,271

2,860

Kemira

Oyj

44,470

32,765

Kesko

Oyj

587,026

57,994

Kojamo

Oyj

513,837

9,448

Konecranes

Oyj

313,194

10,141

Musti

Group

Oyj

192,593

9,086

Orion

Oyj

356,951

67,959

Outokumpu

Oyj

284,503

32,775

Tokmanni

Group

Corporation

455,091

Total

3,294,936

France

(6.0%)

47,485

Air

Liquide

SA

7,997,974

4,308

Arkema

SA

424,083

2,815

BioMerieux

272,325

110,977

Compagnie

de

Saint-Gobain

SA

6,642,019

227,124

Credit

Agricole

SA

2,792,447

92,176

Dassault

Systemes

SE

3,423,640

6,001

Edenred

SE

375,399

54,091

Eiffage

SA

5,134,190

56,263

Engie

SA

862,859

3,206

Eurazeo

SE

190,773

3,567

Hermes

International

SCA

6,502,029

20,981

Ipsos

SA

963,878

719

La

Francaise

des

Jeux

SAEM

b

23,353

77,283

Legrand

SA

7,133,061

4,966

LNA

Sante

129,683

10,768

LVMH

Moet

Hennessy

Louis

Vuitton

SE

8,128,017

44,681

Publicis

Groupe

SA

3,382,025

35,372

Rexel

SA

792,544

105,177

Sanofi

11,293,409

9,202

Schneider

Electric

SE

1,516,418

161

SOITEC

a

26,719

5,890

Sopra

Group

SA

1,215,925

26,062

Thales

SA

3,662,837

21,947

TotalEnergies

SE

1,443,001

30,534

Veolia

Environnement

SA

882,621

9,372

Verallia

SA

b

368,640

International

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

147

Shares

Common

Stock

(96.1%)

Value

France

(6.0%)

-

continued

15,332

Vinci

SA

$

1,696,195

4,728

Wendel

SA

373,723

4,137

Worldline

SA

a,b

116,131

Total

77,765,918

Germany

(5.3%)

11,552

Aixtron

SE

423,135

16,394

Allianz

SE

3,901,382

158

Amadeus

Fire

AG

18,643

5,470

AURELIUS

Equity

Opportunities

SE

&

Company

KGaA

72,868

3,632

Aurubis

AG

267,983

14,875

BASF

SE

673,316

75,043

Bayer

AG

3,603,897

38,730

Bayerische

Motoren

Werke

AG

3,933,697

96

Bilfinger

SE

3,282

2,775

BRANICKS

Group

AG

11,451

974

Carl

Zeiss

Meditec

AG

84,906

6,075

CTS

Eventim

AG

&

Company

KGAA

344,839

4,525

Dermapharm

Holding

SE

186,530

267,486

Deutsche

Bank

AG

2,939,745

22,816

Deutsche

Boerse

AG

3,940,250

209,218

Deutsche

Lufthansa

AG

a

1,655,626

103,973

Deutsche

Post

AG

4,218,761

108,467

Deutsche

Telekom

AG

2,275,291

44,301

Deutz

AG

195,103

4,751

Duerr

AG

128,562

292,820

E.ON

SE

3,462,892

293

Elmos

Semiconductor

SE

19,710

5,679

Fielmann

Group

AG

244,814

73,882

Fresenius

SE

&

Company

KGaA

2,294,792

5,374

Gerresheimer

AG

563,094

17,264

Heidelberg

Materials

AG

1,337,104

2,778

Hugo

Boss

AG

175,599

136,800

Infineon

Technologies

AG

4,530,919

1,504

Ionos

SE

a

22,727

11,224

Jenoptik

AG

283,644

758

JOST

Werke

SE

b

36,331

28,530

Klockner

&

Company

SE

205,762

10,929

LEG

Immobilien

AG

a

751,558

20,039

Mercedes-Benz

Group

AG

1,394,650

19,340

Merck

KGaA

3,224,120

3,376

Muenchener

Rueckversicherungs-

Gesellschaft

AG

1,314,793

47,329

RWE

AG

1,756,844

3,703

SAF-Holland

SE

47,675

51,541

SAP

SE

6,671,572

21,007

Scout24

SE

b

1,456,595

59,642

Siemens

AG

8,523,364

1,882

Stabilus

SE

105,153

6,514

Stroeer

SE

&

Company

KGaA

289,617

27,179

TAG

Immobilien

AG

a

283,970

18,554

TeamViewer

SE

a,b

311,847

2,242

VIB

Vermoegen

AG

a

31,052

509

Vossloh

AG

21,238

1,457

Wacker

Neuson

SE

29,656

Total

68,270,359

Greece

(<0.1%)

5,275

Mytilineos

SA

194,161

45,352

National

Bank

of

Greece

SA

a

255,324

Total

449,485

Shares

Common

Stock

(96.1%)

Value

Guernsey

(<0.1%)

205,854

UK

Commercial

Property

REIT,

Ltd.

$

133,144

Total

133,144

Hong

Kong

(1.7%)

152,400

Bank

of

East

Asia,

Ltd.

188,586

655,500

BOC

Hong

Kong

(Holdings),

Ltd.

1,789,430

82,000

China

Resources

Beer

(Holdings)

Company,

Ltd.

447,920

90,000

CITIC,

Ltd.

82,383

410,000

CK

Hutchison

Holdings,

Ltd.

2,176,727

75,440

CSPC

Pharmaceutical

Group,

Ltd.

55,172

6,400

Dah

Sing

Financial

Holdings,

Ltd.

13,510

54,000

Far

East

Horizon,

Ltd.

38,844

49,500

Genertec

Universal

Medical

Group

Company,

Ltd.

b

24,649

56,000

Hang

Lung

Group,

Ltd.

78,812

438,000

Hang

Lung

Properties,

Ltd.

599,253

5,700

Hang

Seng

Bank,

Ltd.

70,723

96,000

Henderson

Land

Development

Company,

Ltd.

252,092

361,700

Hong

Kong

Exchanges

&

Clearing,

Ltd.

13,423,689

58,000

Hysan

Development

Company,

Ltd.

112,283

42,000

Luk

Fook

Holdings

International,

Ltd.

108,645

34,500

Sun

Hung

Kai

Properties,

Ltd.

368,113

108,000

Swire

Pacific,

Ltd.

727,436

856,000

United

Laboratories

International

Holdings,

Ltd.

865,068

18,700

VTech

Holdings,

Ltd.

111,884

23,000

Yuexiu

Property

Company,

Ltd.

26,438

Total

21,561,657

Hungary

(<0.1%)

17,267

MOL

Hungarian

Oil

&

Gas

plc

130,787

9,563

OTP

Bank

Nyrt

344,784

Total

475,571

India

(1.5%)

777

ABB

India,

Ltd.

38,276

4,735

Amara

Raja

Energy

&

Mobility,

Ltd.

36,292

18,940

Asian

Paints,

Ltd.

719,879

22,995

Bajaj

Auto,

Ltd.

1,398,644

21,293

Bajaj

Finserv,

Ltd.

393,662

60,943

Cipla,

Ltd.

869,169

34,971

Coal

India,

Ltd.

124,029

8,685

Coromandel

International,

Ltd.

119,689

1,582

CRISIL,

Ltd.

74,638

13,042

Cummins

India,

Ltd.

265,797

4,769

Dr.

Reddy's

Laboratories,

Ltd.

ADR

318,903

63,408

HCL

Technologies,

Ltd.

939,797

16,175

HDFC

Asset

Management

Company,

Ltd.

b

515,182

63,818

HDFC

Life

Insurance

Company,

Ltd.

b

488,799

4,803

Hindustan

Unilever,

Ltd.

142,443

292,302

Indian

Oil

Corporation,

Ltd.

319,706

68,441

Infosys,

Ltd.

ADR

1,171,025

56,736

ITC,

Ltd.

303,142

65,064

Jio

Financial

Services,

Ltd.

a

181,148

41,808

Kotak

Mahindra

Bank,

Ltd.

871,279

53,922

Larsen

&

Toubro,

Ltd.

1,959,143

2,923

LTIMindtree,

Ltd.

b

182,633

1,849

Mphasis,

Ltd.

52,714

187

MRF,

Ltd.

241,310

International

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

148

Shares

Common

Stock

(96.1%)

Value

India

(1.5%)

-

continued

564

Nestle

India,

Ltd.

$

152,643

4,137

Persistent

Systems,

Ltd.

287,490

16,339

PI

Industries,

Ltd.

678,641

14,706

Pidilite

Industries,

Ltd.

431,321

4,806

Polycab

India,

Ltd.

308,596

121,455

REC,

Ltd.

419,551

29,767

Reliance

Industries,

Ltd.

838,080

36,760

SBI

Life

Insurance

Company,

Ltd.

b

576,622

5,822

Schaeffler

India,

Ltd.

231,799

8,974

Siemens,

Ltd.

396,187

1,618

Solar

Industries

India,

Ltd.

93,753

1,930

Supreme

Industries,

Ltd.

95,790

42,637

Tata

Consultancy

Services,

Ltd.

1,805,344

13,546

Tech

Mahindra,

Ltd.

198,871

1,369

Thermax,

Ltd.

51,199

5,525

UltraTech

Cement,

Ltd.

547,897

Total

18,841,083

Indonesia

(0.2%)

837,900

Astra

International

Tbk

PT

336,551

2,745,000

Bank

Central

Asia

Tbk

PT

1,563,923

1,011,200

Bank

Mandiri

Persero

Tbk

PT

a

393,586

1,342,100

Bank

Rakyat

Indonesia

Persero

Tbk

PT

453,271

Total

2,747,331

Ireland

(<0.1%)

3,616

Flutter

Entertainment

plc

a

589,879

Total

589,879

Israel

(1.0%)

7,890

AudioCodes,

Ltd.

79,902

25,822

Azrieli

Group,

Ltd.

1,325,520

183,196

Bank

Hapoalim

BM

1,632,204

203,453

Bank

Leumi

Le-Israel

BM

1,685,781

38,440

Doral

Group

Renewable

Energy

Resources,

Ltd.

a

80,024

7,271

First

International

Bank

of

Israel,

Ltd.

313,205

38,990

ICL

Group,

Ltd.

215,151

5,105

Israel

Corporation,

Ltd.

a

1,300,866

9,554

Magic

Software

Enterprises,

Ltd.

108,298

52,288

Mivne

Real

Estate

(KD),

Ltd.

125,875

35,753

Mizrahi

Tefahot

Bank,

Ltd.

1,298,363

10,557

NICE,

Ltd.

a

1,800,591

5,833

Nova,

Ltd.

a

643,236

92,416

Plus500,

Ltd.

1,552,670

22,645

Radware,

Ltd.

a

383,153

1,455

Wix.com,

Ltd.

a

133,569

Total

12,678,408

Italy

(3.1%)

271,423

A2A

SPA

482,400

35,768

Arnoldo

Mondadori

Editore

SpA

80,852

30,607

Azimut

Holding

SPA

666,056

63,973

Banca

Farmafactoring

SPA

b

638,150

17,171

Banca

IFIS

SPA

296,021

207,339

Banca

Mediolanum

SPA

1,766,818

144,332

Banca

Popolare

di

Sondrio

SPA

740,738

31,040

BPER

Banca

94,346

6,032

Brunello

Cucinelli

SPA

457,520

8,044

Buzzi

SpA

219,820

13,993

Credito

Emiliano

SpA

114,609

1,210,640

Enel

SPA

7,424,548

210,422

Hera SPA

574,596

Shares

Common

Stock

(96.1%)

Value

Italy

(3.1%)

-

continued

1,080

Interpump

Group

SPA

$

49,404

2,853,976

Intesa

Sanpaolo

SPA

7,309,658

389,854

Iren

SpA

749,582

511,650

Italgas

SPA

2,617,721

35,876

Mediobanca

SPA

472,993

62,101

Moncler

SPA

3,599,065

203,096

OVS

SPA

b

420,874

190,295

Recordati

SPA

8,967,714

8,025

Reply

SPA

753,002

14,204

Technogym

SpA

b

109,586

145,072

Unipol

Gruppo

SpA

783,002

Total

39,389,075

Japan

(19.1%)

54

Activia

Properties,

Inc.

148,980

110,800

Advantest

Corporation

a

3,090,601

12,100

AEON

Financial

Service

Company,

Ltd.

104,310

23,100

AGC,

Inc.

809,595

23,800

Aica

Kogyo

Company,

Ltd.

530,598

29,700

Ain

Holdings,

Inc.

875,599

35,300

Air

Water,

Inc.

439,398

9,000

Aisin

Corporation

340,065

6,200

Amano

Corporation

136,074

5,300

Amvis

Holdings,

Inc.

92,155

29,700

Aozora

Bank,

Ltd.

606,771

30,400

Arcs

Company,

Ltd.

553,813

15,300

ARE

Holdings,

Inc.

194,021

219,600

Asahi

Kasei

Corporation

1,382,266

210,300

Astellas

Pharma,

Inc.

2,910,894

1,600

Axial

Retailing,

Inc.

40,044

1,300

BayCurrent

Consulting,

Inc.

43,320

10,300

BellSystem24

Holdings,

Inc.

108,834

13,600

Benefit

One,

Inc.

98,220

96,600

Benesse

Holdings,

Inc.

1,181,462

5,100

Canon

Marketing

Japan,

Inc.

132,227

161,600

Canon,

Inc.

3,892,723

46,900

Chiyoda

Company,

Ltd.

287,603

20,900

Chudenko

Corporation

337,396

12,300

Chugai

Pharmaceutical

Company,

Ltd.

379,259

38,600

Chugin

Financial

Group,

Inc.

287,814

44,900

Chugoku

Electric

Power

Company,

Inc.

275,789

51,100

Coca-Cola

Bottlers

Japan,

Inc.

671,406

25,500

COMSYS

Holdings

Corporation

533,143

13,100

Dai

Nippon

Printing

Company,

Ltd.

340,838

3,000

Daido

Steel

Company,

Ltd.

121,906

36,400

Daiichi

Sankyo

Company,

Ltd.

996,535

15,800

Daikin

Industries,

Ltd.

2,476,993

11,300

Daito

Trust

Construction

Company,

Ltd.

1,190,270

169,500

Daiwa

House

Industry

Company,

Ltd.

4,549,279

185

Daiwa

House

REIT

Investment

Corporation

326,404

53,500

Demae-Can

Company,

Ltd.

a

131,689

11,600

Denso

Corporation

a

186,132

3,200

Descente,

Ltd.

91,411

42,800

Doutor

Nichires

Holdings

Company,

Ltd.

666,864

21,200

DTS

Corporation

452,271

12,500

Electric

Power

Development

Company,

Ltd.

201,843

1,537,700

Eneos

Holdings,

Inc.

6,052,599

International

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

149

Shares

Common

Stock

(96.1%)

Value

Japan

(19.1%)

-

continued

18,100

FANUC

Corporation

$

470,735

5,100

Fast

Retailing

Company,

Ltd.

1,110,858

10,900

Ferrotec

Holdings

Corporation

207,913

16,900

Food

&

Life

Companies,

Ltd.

283,410

30,100

Fuji

Media

Holdings,

Inc.

322,467

26,600

Fuji

Soft,

Inc.

860,394

41,000

FUJIFILM

Holdings

NPV

2,371,874

5,100

Fujimi,

Inc.

102,408

32,200

Fujitsu,

Ltd.

3,787,077

15,500

Fukuyama

Transporting

Company,

Ltd.

407,109

1,700

FULLCAST

Holdings

Company,

Ltd.

21,367

14,200

Future

Corporation

142,718

3,200

Fuyo

General

Lease

Company,

Ltd.

257,533

3,000

G-7

Holdings,

Inc.

24,869

36,100

Gree,

Inc.

143,505

2,300

Gunze,

Ltd.

69,319

8,300

Hanwa

Company,

Ltd.

263,143

3,100

Haseko

Corporation

39,518

50,200

Heiwa

Corporation

720,459

29,800

Hitachi,

Ltd.

1,846,932

339,600

Honda

Motor

Company,

Ltd.

a

3,820,397

18,500

Hoya

Corporation

1,894,723

29,900

Hyakugo

Bank,

Ltd.

107,100

30,200

IDOM,

Inc.

147,275

95,200

Inaba

Denki

Sangyo

Company,

Ltd.

2,058,865

558

Industrial

&

Infrastructure

Fund

Investment

Corporation

515,580

19,100

ITOCHU

Corporation

689,776

3,300

Japan

Material

Company,

Ltd.

50,526

239

Japan

Metropolitan

Fund

Investment

Corporation

155,004

27,700

Japan

Post

Bank

Company,

Ltd.

241,041

120,500

Japan

Post

Holdings

Company,

Ltd.

964,017

20,700

Japan

Post

Insurance

Company,

Ltd.

348,140

202,700

Japan

Tobacco,

Inc.

4,663,730

11,000

Jeol,

Ltd.

327,255

34,800

JGC

Corporation

483,531

1,400

JMDC,

Inc.

50,784

7,500

Juroku

Financial

Group,

Inc.

187,640

93,800

Kajima

Corporation

1,526,878

4,000

Kakaku.com,

Inc.

40,506

32,000

Kamigumi

Company,

Ltd.

659,008

27,200

Kanematsu

Corporation

375,905

100,600

Kawasaki

Kisen

Kaisha,

Ltd.

d

3,433,064

238,000

KDDI

Corporation

7,285,294

29,800

Keiyo

Bank,

Ltd.

137,810

185

Kenedix

Office

Investment

Corporation

427,842

40

Kenedix

Retail

REIT

Corporation

77,343

11,400

Keyence

Corporation

4,216,015

79,000

Kinden

Corporation

1,148,948

4,100

Komatsu,

Ltd.

110,582

30,100

K's

Holdings

Corporation

276,209

21,800

Kumagai

Gumi

Company,

Ltd.

513,800

19,200

Kuraray

Company,

Ltd.

227,447

1,800

Kureha

Corporation

100,078

2,400

KYB

Corporation

77,613

6,100

Kyocera

Corporation

309,256

107,500

Kyoei

Steel,

Ltd.

1,429,550

29,200

Kyowa

Hakko

Kirin

Company,

Ltd.

507,697

82

LaSalle

Logiport

REIT

78,619

8,700

Lintec

Corporation

139,090

Shares

Common

Stock

(96.1%)

Value

Japan

(19.1%)

-

continued

32,400

Lion

Corporation

$

319,549

6,900

M&A

Research

Institute

Holdings,

Inc.

a

158,953

9,900

Management

Solutions

Company,

Ltd.

185,594

10,600

Mandom

Corporation

97,732

16,600

Maruichi

Steel

Tube,

Ltd.

412,667

64,800

Mazda

Motor

Corporation

735,771

2,200

McDonald's

Holdings

Company

(Japan),

Ltd.

84,061

10,600

Megachips

Corporation

296,101

56,800

MEITEC

Group

Holdings,

Inc.

1,027,245

19,100

Menicon

Company,

Ltd.

245,524

4,000

Micronics

Japan

Company,

Ltd.

56,543

200

Mimasu

Semiconductor

Industry

Company,

Ltd.

3,709

16,800

Ministop

Company,

Ltd.

164,766

52,000

Mitsubishi

Corporation

2,477,818

114,100

Mitsubishi

Electric

Corporation

1,409,645

587,500

Mitsubishi

HC

Capital,

Inc.

3,914,558

10,800

Mitsubishi

Logistics

Corporation

286,860

2,800

Mitsubishi

Research

Institute,

Inc.

90,656

9,000

Mitsubishi

Shokuhin

Company,

Ltd.

234,917

565,900

Mitsubishi

UFJ

Financial

Group,

Inc.

4,795,525

30,100

Mitsui

&

Company,

Ltd.

1,091,725

20,300

Mixi,

Inc.

321,723

163,900

Mizuho

Financial

Group,

Inc.

2,782,687

133,500

Murata

Manufacturing

Company,

Ltd.

a

2,435,329

31,600

NEC

Networks

&

System

Integration

Corporation

414,918

13,100

Nextage

Company,

Ltd.

199,742

14,200

NHK

Spring

Company,

Ltd.

108,612

44,600

Nidec

Corporation

2,059,336

295,500

Nihon

M&A

Center

Holdings,

Inc.

1,420,157

24,900

Nikkon

Holdings

Company,

Ltd.

526,177

115,800

Nikon

Corporation

1,219,594

138,000

Nintendo

Company,

Ltd.

5,734,309

10,600

Nippon

Express

Holdings,

Inc.

553,106

201

Nippon

REIT

Investment

Corporation

479,793

4,800

Nippon

Shokubai

Company,

Ltd.

174,239

5,300

Nippon

Signal

Company,

Ltd.

33,313

199,400

Nippon

Television

Holdings,

Inc.

2,016,165

68,600

Nippon

Yusen

Kabushiki

Kaisha

1,781,188

2,600

Nishimatsu

Construction

Company,

Ltd.

64,477

522,500

Nissan

Motor

Company,

Ltd.

2,305,919

7,000

Nisshin

Oillio

Group,

Ltd.

195,907

57,700

Nissui

Corporation

282,433

11,300

Niterra

Company,

Ltd.

255,758

30,300

Nitori

Holdings

Company,

Ltd.

3,378,313

3,000

Nitto

Boseki

Company,

Ltd.

69,932

45,400

Nitto

Kogyo

Corporation

1,088,066

23,900

NOK

Corporation

317,225

13,800

Nomura

Research

Institute,

Ltd.

358,686

11,000

North

Pacific

Bank,

Ltd.

26,544

3,200

NS

United

Kaiun

Kaisha,

Ltd.

84,248

31,700

NSD

Company,

Ltd.

600,888

262,400

NTT

Data

Group

Corporation

3,511,267

6,400

OBIC

Business

Consultants

Company,

Ltd.

264,872

9,000

Ohsho

Food

Service

Corporation

416,029

18,300

Okamura

Corporation

276,332

International

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

150

Shares

Common

Stock

(96.1%)

Value

Japan

(19.1%)

-

continued

50,000

Okinawa

Electric

Power

Company,

Inc.

$

375,348

11,000

Okumura

Corporation

330,304

170,800

Olympus

Corporation

2,217,580

9,800

Ono

Pharmaceutical

Company,

Ltd.

187,948

15,840

Orient

Corporation

122,889

178,200

Oriental

Land

Company,

Ltd.

5,846,323

84,500

ORIX

Corporation

1,577,818

25,300

Otsuka

Holdings

Company,

Ltd.

898,279

9,100

Pacific

Metals

Company,

Ltd.

a

85,148

78,700

Pan

Pacific

International

Holdings

Company

1,651,674

7,900

PeptiDream,

Inc.

a

85,024

3,100

PHC

Holdings

Corporation

31,591

2,000

Pigeon

Corporation

22,575

5,600

Plus

Alpha

Consulting

Company,

Ltd.

104,911

9,100

Rakus

Company,

Ltd.

124,847

120,484

Recruit

Holdings

Company,

Ltd.

3,686,212

61,300

Renesas

Electronics

Corporation

a

936,355

55,200

Resona

Holdings,

Inc.

305,211

25,800

Resorttrust,

Inc.

385,010

132,000

Rohm

Company,

Ltd.

a

2,481,502

1,100

Roland

Corporation

30,117

6,900

Saizeriya

Company,

Ltd.

223,462

39,900

Sangetsu

Company,

Ltd.

777,375

15,300

Sankyu,

Inc.

528,936

55,700

Santen

Pharmaceutical

Company,

Ltd.

511,069

13,100

Sanyo

Chemical

Industries,

Ltd.

358,615

3,400

Sanyo

Special

Steel

Company,

Ltd.

66,910

9,800

Sawai

Group

Holdings

Company,

Ltd.

299,689

3,400

SB

Technology

Corporation

51,274

4,400

SCREEN

Holdings

Company,

Ltd.

a

213,823

68,100

Secom

Company,

Ltd.

4,619,959

7,700

Sega

Sammy

Holdings,

Inc.

142,007

73,600

Seino

Holdings

Company,

Ltd.

1,031,377

1,900

SHIFT,

Inc.

a

345,521

67,100

Shin-Etsu

Chemical

Company,

Ltd.

1,948,963

7,500

Shionogi

&

Company,

Ltd.

334,533

99,800

SKY

Perfect

JSAT

Holdings,

Inc.

466,673

5,700

SMC

Corporation

2,555,095

2,900

Socionext,

Inc.

285,773

128,400

SoftBank

Group

Corporation

5,408,920

4,600

Sojitz

Corporation

100,766

42,900

Sompo

Holdings,

Inc.

1,838,556

59,900

Sony

Group

Corporation

4,898,358

554

Star

Asia

Investment

Corporation

214,429

8,700

Starts

Corporation,

Inc.

169,804

19,000

Sumco

Corporation

247,247

28,700

Sumitomo

Corporation

572,793

127,400

Sumitomo

Dainippon

Pharma

Company,

Ltd.

455,733

19,200

Sumitomo

Heavy

Industries,

Ltd.

486,204

99,800

Sumitomo

Mitsui

Financial

Group,

Inc.

4,902,779

99,400

Sumitomo

Mitsui

Trust

Holdings,

Inc.

3,742,116

2,600

Sumitomo

Osaka

Cement

Company,

Ltd.

63,911

114,000

Systena

Corporation

204,899

7,100

Taikisha,

Ltd.

214,515

16,700

Taisho

Pharmaceutical

Holdings

Company,

Ltd.

687,431

42,100

Taiyo

Holdings

Company,

Ltd.

721,023

Shares

Common

Stock

(96.1%)

Value

Japan

(19.1%)

-

continued

7,700

Takamatsu

Construction

Group

Company,

Ltd.

$

137,248

9,400

Takara

Standard

Company,

Ltd.

116,393

164,100

Takeda

Pharmaceutical

Company,

Ltd.

5,086,528

15,900

Takuma

Company,

Ltd.

164,424

44,000

Terumo

Corporation

1,164,718

47,100

TIS,

Inc.

1,035,691

83,200

Toagosei

Company,

Ltd.

747,194

7,700

Tocalo

Company,

Ltd.

70,043

6,000

Tokai

Corporation/Gifu

76,205

21,000

Tokio

Marine

Holdings,

Inc.

486,228

20,500

Tokyo

Electron,

Ltd.

2,800,142

13,300

Tokyo

Seimitsu

Company,

Ltd.

664,963

12,200

Tokyotokeiba

Company,

Ltd.

328,374

106,500

Tokyu

Fudosan

Holdings

Corporation

654,396

67,500

TOPPAN

Holdings,

Inc.

1,614,691

7,800

Torii

Pharmaceutical

Company,

Ltd.

201,789

21,500

Totetsu

Kogyo

Company,

Ltd.

421,900

5,100

Towa

Pharmaceutical

Company,

Ltd.

96,836

9,400

Toyo

Suisan

Kaisha,

Ltd.

368,639

864,000

Toyota

Motor

Corporation

15,500,444

14,900

Transcosmos,

Inc.

318,192

26,900

TRE

Holdings

Corporation

216,800

3,100

Tri

Chemical

Laboratories,

Inc.

64,115

40,200

Tsubakimoto

Chain

Company

1,040,297

600

Tsuruha

Holdings,

Inc.

40,302

137,100

TV

Asahi

Holdings

Corporation

1,549,291

17,200

UBE

Corporation

289,809

2,800

United

Arrows,

Ltd.

36,663

14,500

Universal

Entertainment

Corporation

213,736

5,500

UT

Group

Company,

Ltd.

a

81,918

20,600

Valor

Holdings

Company,

Ltd.

301,235

20,500

ValueCommerce

Company,

Ltd.

174,471

31,700

Wacom

Company,

Ltd.

125,600

4,600

WDB

Holdings

Company,

Ltd.

62,803

32,800

Yakult

Honsha

Company,

Ltd.

a

796,612

4,600

Yellow

Hat,

Ltd.

58,360

22,100

Yuasa

Trading

Company,

Ltd.

610,628

13,700

Zensho

Holdings

Company,

Ltd.

594,917

89,700

ZOZO,

Inc.

1,642,513

Total

246,506,475

Jersey

(0.5%)

363,245

Glencore

plc

2,068,515

1,332,916

Man

Group

plc

3,622,917

46,909

TP

ICAP

Group

plc

97,355

70,217

WPP

plc

625,589

Total

6,414,376

Kuwait

(0.1%)

24,746

HumanSoft

Holding

Company

KSCC

250,141

11,714

Kuwait

Finance

House

KSCP

27,736

75,298

Mobile

Telecommunications

Company

KSCP

118,507

179,148

National

Bank

of

Kuwait

KSC

525,014

76,032

National

Industries

Group

Holding

49,222

Total

970,620

Luxembourg

(1.1%)

17,160

APERAM

SA

498,441

International

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

151

Shares

Common

Stock

(96.1%)

Value

Luxembourg

(1.1%)

-

continued

66,568

ArcelorMittal

SA

$

1,666,600

122,733

Aroundtown

SA

a

254,611

478,428

B&M

European

Value

Retail

SA

3,412,568

3,919

Grand

City

Properties

SA

a

36,952

10,781

Reinet

Investments

SCA

236,719

37,253

Subsea

7

SA

511,843

223,910

Tenaris

SA

ADR

7,075,556

Total

13,693,290

Malaysia

(0.1%)

7,600

AEON

Credit

Service

(M)

Bhd

19,715

172,300

Hong

Leong

Bank

Bhd

715,049

28,600

IOI

Corporation

Bhd

24,206

11,200

Kuala

Lumpur

Kepong

Bhd

50,985

156,400

Mah

Sing

Group

Bhd

29,935

5,700

Malayan

Banking

Bhd

10,663

25,700

MISC

Bhd

38,719

6,900

Petronas

Dagangan

Bhd

32,889

60,100

Public

Bank

Bhd

51,925

64,800

QL

Resources

Bhd

75,355

8,791

RHB

Bank

Bhd

10,158

98,541

Sports

Toto

Bhd

31,061

24,200

Ta

Ann

Holdings

Bhd

17,370

134,400

Tenaga

Nasional

Bhd

285,833

Total

1,393,863

Mexico

(0.2%)

4,015

America

Movil

SAB

de

CV

ADR

69,539

50,600

Arca

Continental

SAB

de

CV

460,982

73,171

Cemex

SAB

de

CV

ADR

a

475,612

7,677

Coca-Cola

Femsa

SAB

de

CV

ADR

602,184

626

Fomento

Economico

Mexicano

SAB

de

CV

ADR

68,328

24,833

Grupo

Financiero

Banorte

SAB

de

CV

ADR

208,140

94,000

Grupo

Mexico

SAB

de

CV

444,231

9,200

Kimberly-Clark

de

Mexico,

SA

de

CV

18,318

136,900

Megacable

Holdings

SAB

de

CV

302,433

13,400

Wal-Mart

de

Mexico

SAB

de

CV

50,578

Total

2,700,345

Netherlands

(5.1%)

11,378

Aalberts

NV

415,166

6,360

ASM

International

NV

2,655,890

31,496

ASML

Holding

NV

18,543,283

43

BE

Semiconductor

Industries

NV

4,206

7,723

Cementir

Holding

NV

61,238

410

COSMO

Pharmaceuticals

NV

17,872

40,121

Euronext

NV

b

2,790,784

8,252

EXOR

NV

729,878

15,688

Ferrari

NV

4,624,595

65,951

ForFarmers

NV

172,502

5,026

IMCD

NV

635,461

359,129

Koninklijke

Ahold

Delhaize

NV

10,824,038

27,185

Koninklijke

Vopak

NV

929,890

2,338,672

MFE-MediaForEurope

NV

988,530

34,239

NEPI

Rockcastle

NV

188,250

68,916

QIAGEN

NV

a

2,780,733

22,784

Signify

NV

b

611,357

395,627

Stellantis

NV

7,575,636

140,645

STMicroelectronics

NV

6,065,045

93,380

Unilever

plc

4,623,000

8,240

Van

Lanschot

Kempen

NV

221,039

Shares

Common

Stock

(96.1%)

Value

Netherlands

(5.1%)

-

continued

1,189

Wolters

Kluwer

NV

$

143,959

Total

65,602,352

New

Zealand

(0.1%)

50,898

Air

New

Zealand,

Ltd.

22,277

131,215

Contact

Energy,

Ltd.

632,190

31,974

Genesis

Energy,

Ltd.

46,720

5,571

Xero,

Ltd.

a

400,655

Total

1,101,842

Norway

(1.4%)

160,331

Aker

Solutions

ASA

645,131

2,246

Atea

ASA

28,052

275,553

DNB

Bank

ASA

5,536,348

98,884

Elkem

ASA

b

200,002

161,895

Equinor

ASA

5,305,631

80,295

Europris

ASA

b

447,633

26,979

Hoegh

Autoliners

ASA

193,566

33,065

Norsk

Hydro

ASA

206,916

6,749

SpareBank

1

Nord

Norge

60,318

1,319

Sparebank

1

Oestlandet

16,431

10,633

Veidekke

ASA

97,019

12,690

Wallenius

Wilhelmsen

ASA

100,159

131,355

Yara

International

ASA

4,959,919

Total

17,797,125

Philippines

(0.1%)

17,490

Aboitiz

Equity

Ventures,

Inc.

15,503

18,500

Jollibee

Foods

Corporation

74,920

36,360

SM

Investments

Corporation

541,737

Total

632,160

Poland

(0.1%)

9,317

Asseco

Poland

SA

152,603

31,126

Orlen

SA

417,019

16,593

Powszechna

Kasa

Oszczednosci

Bank

Polski

SA

a

131,263

43,862

Powszechny

Zaklad

Ubezpieczen

SA

414,299

894

Santander

Bank

Polska

SA

a

73,393

Total

1,188,577

Portugal

(0.1%)

72,797

CTT-Correios

de

Portugal

SA

267,452

82,448

EDP

-

Energias

de

Portugal

SA

342,815

4,462

Galp

Energia

SGPS

SA

66,092

57,725

REN

-

Redes

Energeticas

Nacionais

SGPS

SA

147,579

Total

823,938

Qatar

(<0.1%)

19,028

Commercial

Bank

PSQC

28,224

111,708

Gulf

International

Services

QSC

89,733

161,216

Masraf

Al

Rayan

QSC

98,746

23,203

Ooredoo

QPSC

68,143

4,800

Qatar

Electricity

&

Water

Company

QSC

23,104

35,317

Qatar

Gas

Transport

Company,

Ltd.

36,107

Total

344,057

Russian

Federation

(<0.1%)

169,404

Gazprom

PJSC

ADR

a,c

17

6,112

LUKOIL

PJSC

a,c,e

0

6,042

Mechel

PJSC

ADR

a,c

1

International

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

152

Shares

Common

Stock

(96.1%)

Value

Russian

Federation

(<0.1%)

-

continued

14,886

MMC

Norilsk

Nickel

PJSC

ADR

a,c

$

1

444

Novatek

PJSC

GDR

a,c

0

684

Polyus

PJSC

a,c

0

1

Polyus

PJSC

GDR

a,c

0

329,720

Sberbank

of

Russia

PJSC

a,c,e

0

17,590

Sovcomflot

OAO

a,c

0

765,300

Surgutneftegas

PJSC

a,c,e

1

67,366

Surgutneftegas

PJSC

ADR

a,c

7

Total

27

Saudi

Arabia

(0.3%)

55,599

Al

Rajhi

Bank

1,007,262

59,197

Alinma

Bank

527,653

4,970

Arab

National

Bank

31,804

4,788

Dr.

Sulaiman

Al

Habib

Medical

Services

Group

Company

300,905

3,451

Eastern

Province

Cement

Company

35,840

13,166

Fawaz

Abdulaziz

Al

Hokair

&

Company

a

73,237

74,517

Jarir

Marketing

Company

288,098

54,808

National

Commercial

Bank

479,545

22,709

Riyad

Bank

168,145

1,105

SABIC

Agri-Nutrients

Company

39,216

9,274

Saudi

Arabian

Oil

Company

b

86,397

2,253

Saudi

Aramco

Base

Oil

Company

89,397

4,068

Saudi

Basic

Industries

Corporation

89,575

18,597

Saudi

Electricity

Company

94,637

48,827

Saudi

Telecom

Company

489,679

6,384

Savola

Group

61,398

Total

3,862,788

Singapore

(1.4%)

2,699

China

Yuchai

International,

Ltd.

27,260

405,000

DBS

Group

Holdings,

Ltd.

9,946,660

16,497

Kenon

Holdings,

Ltd.

382,804

161,800

Singapore

Exchange,

Ltd.

1,151,048

115,900

Singapore

Technologies

Engineering,

Ltd.

330,761

210,600

United

Overseas

Bank,

Ltd.

4,386,400

114,000

Wing

Tai

Holdings,

Ltd.

116,752

1,006,800

Yangzijiang

Shipbuilding

Holdings,

Ltd.

1,220,434

593,500

Yanlord

Land

Group,

Ltd.

a

286,338

Total

17,848,457

South

Africa

(0.2%)

33,192

Absa

Group,

Ltd.

305,891

47,656

AECI,

Ltd.

283,815

28,759

Aspen

Pharmacare

Holdings,

Ltd.

260,982

5,162

Barloworld,

Ltd.

23,676

7,314

Coronation

Fund

Managers,

Ltd.

11,967

57,547

DataTec,

Ltd.

109,266

48,495

FirstRand,

Ltd.

163,303

11,137

Kumba

Iron

Ore,

Ltd.

267,511

43,446

Momentum

Metropolitan

Holdings

45,342

6,324

MTN

Group,

Ltd.

37,693

2,499

Naspers,

Ltd.

399,812

16,472

Sasol,

Ltd.

226,115

29,723

Standard

Bank

Group

288,412

9,021

Super

Group,

Ltd.

15,761

18,506

Vukile

Property

Fund,

Ltd.

12,804

Total

2,452,350

South

Korea

(0.9%)

2,048

AfreecaTV

Company,

Ltd.

127,207

Shares

Common

Stock

(96.1%)

Value

South

Korea

(0.9%)

-

continued

318

Chong

Kun

Dang

Pharmaceutical

Corporation

a

$

22,101

483

Chongkundang

Holdings

Corporation

19,254

1,542

CJ

Corporation

102,365

3,922

Doosan

Bobcat,

Inc.

148,033

5,798

Green

Cross

Holdings

Corporation

59,898

19,115

GS

Holdings

Corporation

563,985

1,227

Hanmi

Pharm

Company,

Ltd.

271,987

3,973

Hanwha

Corporation

70,461

2,326

Huons

Global

Company,

Ltd.

39,057

1,340

HYBE

Company,

Ltd.

a

235,842

842

Hyundai

Motor

Company

119,062

983

Hyundai

Steel

Company

27,652

2,348

JW

Pharmaceutical

Corporation

a

66,678

3,375

JYP

Entertainment

Corporation

280,249

10,802

Kakao

Corporation

352,541

10,635

Kia

Corporation

640,124

310

Korea

Zinc

Company,

Ltd.

116,121

282

LG

Chem,

Ltd.

103,250

6,796

Lotte

Shopping

Company,

Ltd.

359,122

2,230

Meritz

Financial

Group,

Inc.

91,263

2,658

NAVER

Corporation

397,410

43,051

NH

Investment

&

Securities

Company,

Ltd.

325,869

90

NongShim

Company,

Ltd.

31,489

4,080

PharmaResearch

Company,

Ltd.

381,852

1,896

POSCO

Holdings,

Inc.

746,965

1,068

Samsung

Biologics

Company,

Ltd.

a,b

539,113

5,612

Samsung

C&T

Corporation

447,447

80,160

Samsung

Electronics

Company,

Ltd.

4,052,419

196

Samsung

SDI

Company,

Ltd.

74,071

16,535

Samsung

Securities

Corporation,

Ltd.

449,872

3,641

Seoul

Semiconductor

Company,

Ltd.

28,363

588

SGC

Energy

Company,

Ltd.

11,195

167

SK

Biopharmaceuticals

Company,

Ltd.

a

10,663

7,204

SK

Hynix,

Inc.

609,924

2,420

Yuhan

Corporation

135,844

Total

12,058,748

Spain

(3.1%)

285,555

Acerinox

SA

2,759,379

7,074

Aena

SME

SA

b

1,064,478

37,328

Amadeus

IT

Holding

SA

2,254,712

15,643

Atresmedia

Corporacion

de

Medios

de

Comunicacion

SA

60,445

910,271

Banco

Bilbao

Vizcaya

Argentaria

SA

7,366,760

1,312,456

Banco

Santander

SA

4,997,923

104,906

Cia

de

Distribucion

Integral

Logista

Holdings

SA

2,680,857

4,113

Global

Dominion

Access

SA

b

14,567

226,111

Industria

de

Diseno

Textil

SA

8,414,056

2,911

Laboratorios

Farmaceuticos

ROVI

SA

157,560

8,997

Let's

GOWEX

SA

a,c,f

1

32,019

Melia

Hotels

International

SA

a

194,125

87,888

Merlin

Properties

Socimi

SA

739,476

1,477

Pharma

Mar

SA

50,078

579,214

Repsol

SA

9,527,500

International

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

153

Shares

Common

Stock

(96.1%)

Value

Spain

(3.1%)

-

continued

41,262

Sacyr

SA

$

121,101

2,074

Vidrala

SA

180,056

Total

40,583,074

Sweden

(2.3%)

78,391

AB

Industrivarden,

Class

A

2,067,108

78,958

AB

Industrivarden,

Class

C

2,080,631

48,844

AcadeMedia

AB

b

209,046

29,867

AddLife

AB

176,262

33,923

AddTech

AB

541,386

14,629

Alleima

AB

76,687

10,437

Ambea

AB

b

33,034

87,574

Arjo

AB

338,426

281,211

Assa

Abloy

AB

6,110,314

28,413

Atlas

Copco

AB,

Class

A

381,606

22,235

Atlas

Copco

AB,

Class

B

260,039

5,307

Atrium

Ljungberg

AB

86,365

47,320

Attendo

AB

a,b

123,004

52,610

Betsson

AB

578,177

20,601

BioGaia

AB

189,878

31,323

Biotage

AB

307,565

10,078

Bravida

Holding

AB

b

74,176

6,211

Bufab

AB

156,169

444,094

Corem

Property

Group

AB

245,274

10,500

Dios

Fastigheter

AB

59,831

22,406

Dustin

Group

AB

a,b

41,398

5,841

Epiroc

AB,

Class

A

110,905

3,128

Epiroc

AB,

Class

B

50,040

243,200

Granges

AB

2,287,782

150,408

Hexagon

AB

1,280,083

123,672

Hexpol

AB

1,095,804

13,183

Indutrade

AB

243,475

24,253

Investor

AB,

Class

B

464,312

46,427

Inwido

AB

466,663

12,668

Kinnevik

AB

a

125,805

2,431

L

E

Lundbergforetagen

AB

101,364

29,171

Lifco

AB

510,298

31,896

Lindab

International

AB

465,660

57,492

NCC

AB

621,540

83,325

Nobia

AB

a

62,202

49,137

Nyfosa

AB

263,464

22,794

Pandox

AB

241,888

34,931

Peab

AB

143,293

13,467

Platzer

Fastigheter

Holding

AB

82,832

2,928

SKF

AB

48,609

565,660

SSAB

AB,

Class

A

3,187,485

347,322

SSAB

AB,

Class

B

1,905,397

16,882

Svolder

AB

78,372

44,632

Sweco

AB

416,246

16,213

Swedbank

AB

298,018

29,033

Trelleborg

AB

721,350

1,344

Troax

Group

AB

19,030

14,319

Vitrolife

AB

191,837

18,719

Volvo

AB,

Class

B

385,567

Total

30,005,697

Switzerland

(6.4%)

129

Bucher

Industries

AG

49,210

1,352

Burckhardt

Compression

Holding

AG

735,774

6,085

Cembra

Money

Bank

AG

412,623

12,163

Coca-Cola

HBC

AG

332,584

34,948

Compagnie

Financiere

Richemont

SA

4,256,081

1,564

DKSH

Holding

AG

105,792

Shares

Common

Stock

(96.1%)

Value

Switzerland

(6.4%)

-

continued

11,529

Galenica

AG

b

$

851,713

114,860

Holcim

AG

7,352,063

3,003

Huber+Suhner

AG

216,496

1,609

Implenia

AG

52,774

47

LEM

Holding

SA

105,004

146

Lindt

&

Spruengli

AG

1,622,432

236

Medmix

AG

b

5,995

136,426

Nestle

SA

15,442,880

244,392

Novartis

AG

24,959,423

2,608

Partners

Group

Holding

AG

2,927,729

32,553

PSP

Swiss

Property

AG

3,840,664

14,443

Roche

Holding

AG,

Participation

Certificates

3,942,955

874

Schindler

Holding

AG

168,165

18,215

Schindler

Holding

AG,

Participation

Certificates

3,628,425

1,235

Siegfried

Holding

AG

1,054,846

17,337

Sika

AG

4,392,519

14,238

Swiss

Prime

Site

AG

1,303,471

8,172

Tecan

Group

AG

2,746,782

17,884

Temenos

AG

1,250,813

2,619

u-blox

Holding

AG

221,997

1,573

Vontobel

Holding

AG

93,392

667

Zehnder

Group

AG

39,100

Total

82,111,702

Taiwan

(1.4%)

19,057

ASE

Technology

Holding

Company,

Ltd.

ADR

143,309

113,000

Asia

Cement

Corporation

139,201

13,000

Asustek

Computer,

Inc.

147,928

361,000

Capital

Securities

Corporation

163,434

336,000

Cheng

Shin

Rubber

Industry

Company,

Ltd.

442,639

5,000

Chicony

Power

Technology

Company,

Ltd.

17,747

14,000

China

Steel

Chemical

Corporation

49,049

224,000

China

Steel

Corporation

175,288

199,000

Chipbond

Technology

Corporation

420,933

39,000

Delta

Electronics,

Inc.

392,805

44,000

Elan

Microelectronics

Corporation

182,107

66,000

Everlight

Electronics

Company,

Ltd.

95,961

113,000

Feng

Hsin

Steel

Company,

Ltd.

235,372

24,000

Getac

Holdings

Corporation

57,808

10,000

Global

Mixed

Mode

Technology,

Inc.

81,019

3,000

Grape

King

Bio,

Ltd.

14,506

1,100

Hotai

Motor

Company,

Ltd.

a

22,355

8,000

Makalot

Industrial

Company,

Ltd.

83,317

29,000

MediaTek,

Inc.

663,023

72,000

Micro-Star

International

Company,

Ltd.

366,287

315,000

Nan

Ya

Plastics

Corporation

649,853

74,000

Novatek

Microelectronics

Corporation

971,738

188,000

Pou

Chen

Corporation

167,046

46,000

Powertech

Technology,

Inc.

144,776

14,000

President

Chain

Store

Corporation

113,811

129,000

Quanta

Computer,

Inc.

965,450

40,000

Radiant

Opto-Electronics

Corporation

152,407

73,000

Realtek

Semiconductor

Corporation

896,324

37,000

Sigurd

Microelectronics

Corporation

65,879

International

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

154

Shares

Common

Stock

(96.1%)

Value

Taiwan

(1.4%)

-

continued

9,180

SinoPac

Financial

Holdings

Company,

Ltd.

$

4,952

27,000

Systex

Corporation

88,631

113,485

Taichung

Commercial

Bank

Company,

Ltd.

a

51,527

448,800

Taiwan

Cooperative

Financial

Holding

Company,

Ltd.

356,113

442,515

Taiwan

Semiconductor

Manufacturing

Company,

Ltd.

7,215,758

90,947

Topco

Scientific

Company,

Ltd.

478,005

6,000

TTY

Biopharm

Company,

Ltd.

14,359

197,000

Uni-President

Enterprises

Corporation

428,172

34,000

USI

Corporation

21,854

73,000

Winbond

Electronics

Corporation

57,380

889,556

Yuanta

Financial

Holding

Company,

Ltd.

a

691,020

Total

17,429,143

Thailand

(0.1%)

59,700

Bangchak

Corporation

pcl

NVDR

66,964

256,700

Bangkok

Dusit

Medical

Services

pcl

NVDR

188,007

123,200

Home

Product

Center

pcl

NVDR

42,192

605,100

Krung

Thai

Bank

pcl

NVDR

314,980

1,291,900

Land

and

Houses

pcl

NVDR

276,249

46,000

PTT

pcl

NVDR

42,189

Total

930,581

Turkey

(0.1%)

43,582

BIM

Birlesik

Magazalar

AS

435,995

64,753

KOC

Holding

AS

346,135

2,200

Tofas

Turk

Otomobil

Fabrikasi

AS

23,679

45,097

Turk

Hava

Yollari

Anonim

Ortakligi

a

398,044

Total

1,203,853

United

Arab

Emirates

(0.2%)

19,939

Abu

Dhabi

Islamic

Bank

PJSC

61,125

59,115

Aldar

Properties

PJSC

92,722

239,740

Deyaar

Development

PJSC

a

43,945

249,546

Dubai

Islamic

Bank

PJSC

397,494

441,021

Emaar

Properties

PJSC

965,146

62,602

Emirates

Central

Cooling

Systems

Corporation

32,139

166,147

Emirates

NBD

Bank

PJSC

805,169

Total

2,397,740

United

Kingdom

(10.7%)

26,579

3i

Group

plc

669,015

111,273

AstraZeneca

plc

15,009,094

769,662

Auto

Trader

Group

plc

b

5,783,255

33,993

Babcock

International

Group

plc

a

170,849

49,167

BAE

Systems

plc

597,473

163,951

Balfour

Beatty

plc

642,121

732,390

Barclays

plc

1,411,638

16,317

Bellway

plc

453,322

4,533

Big

Yellow

Group

plc

51,656

9,232

Bodycote

plc

73,498

1,086,604

BP

plc

7,004,221

47,972

Breedon

Group

plc

192,567

41,062

Britvic

plc

435,070

32,275

Bunzl

plc

1,149,442

11,186

Bytes

Technology

Group

plc

68,077

13,424

Central

Asia

Metals

plc

30,792

26,606

Coca-Cola

European

Partners

plc

1,662,343

Shares

Common

Stock

(96.1%)

Value

United

Kingdom

(10.7%)

-

continued

127,908

Compass

Group

plc

$

3,113,504

19,746

Computacenter

plc

608,022

187,895

Diageo

plc

6,927,378

39,819

Domino's

Pizza

Group

plc

182,868

39,303

Drax

Group

plc

210,422

116,216

DS

Smith

plc

405,331

4,011

easyJet

plc

a

20,790

99,833

Evraz

plc

a,c

12

83,275

FirstGroup

plc

153,114

813

Games

Workshop

Group

plc

104,683

8,910

Genus

plc

227,258

11,842

Greggs

plc

352,547

201,873

GSK

plc

3,652,671

247,031

Halma

plc

5,820,266

68,545

Harbour

Energy

plc

214,660

45,344

Hays

plc

60,143

42,576

Hikma

Pharmaceuticals

plc

1,081,147

1,704,151

HSBC

Holdings

plc

13,335,724

251,963

IG

Group

Holdings

plc

1,972,534

8,953

IMI

plc

170,372

238,450

Imperial

Brands

plc

4,837,327

75,724

Inchcape

plc

697,455

87,444

InterContinental

Hotels

Group

plc

6,466,903

5,534

Intermediate

Capital

Group

plc

92,891

22,802

J

D

Wetherspoon

plc

a

192,381

24,512

Jet2

plc

322,311

16,433

Lancashire

Holdings,

Ltd.

118,295

4,983

Liontrust

Asset

Management

plc

36,751

1,217,688

Lloyds

TSB

Group

plc

654,383

257,235

Marks

&

Spencer

Group

plc

a

739,869

34,789

Mondi

plc

580,349

291,563

Moneysupermarket.com

Group

plc

863,021

12,218

Morgan

Sindall

Group

plc

304,713

24,683

Next

plc

2,189,188

41,844

PageGroup

plc

213,964

97,811

Paragon

Banking

Group

plc

584,374

179,802

Pets

at

Home

Group

plc

730,736

42,124

Playtech

plc

a

232,309

91,924

Redde

Northgate

plc

379,091

15,982

Redrow

plc

96,164

284,434

RELX

plc

9,596,842

251,480

Rightmove

plc

1,716,185

90,305

Rio

Tinto

plc

5,670,510

138,472

Rotork

plc

524,595

8,420

RS

Group

plc

75,201

37,069

Safestore

Holdings

plc

331,185

138,030

Sage

Group

plc

1,661,050

433,353

Serco

Group

plc

787,818

562,028

Shell

plc

17,813,148

28,699

Spectris

plc

1,186,469

5,293

Spirax-Sarco

Engineering

plc

612,686

142,614

SSP

Group

plc

a

352,533

62,093

Standard

Chartered

plc

571,106

431,337

Tesco

plc

1,387,398

4,372

TORM

plc

118,327

6,331

Tritax

Big

Box

REIT

plc

10,774

44,212

Virgin

Money

UK

plc

88,841

33,278

Watches

of

Switzerland

Group

plc

a,b

216,727

18,172

Whitbread

plc

764,917

117,306

Wickes

Group

plc

196,512

27,364

YouGov

plc

250,402

5,423

Young

&

Company's

Brewery

plc

70,798

Total

138,354,378

International

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

155

Shares

Common

Stock

(96.1%)

Value

United

States

(0.1%)

17,328

Yum

China

Holding,

Inc.

$

965,516

Total

965,516

Virgin

Islands,

British

(<0.1%)

4,449

VK

Company,

Ltd.

GDR

a,c

0

Total

0

Total

Common

Stock

(cost

$1,156,878,162)

1,238,602,097

Shares

Collateral

Held

for

Securities

Loaned

(

0.2%

)

3,033,550

Thrivent

Cash

Management

Trust

3,033,550

Total

Collateral

Held

for

Securities

Loaned

(cost

$3,033,550)

3,033,550

Shares

Preferred

Stock

(

<0.1%

)

Brazil

(<0.1%)

26,600

Companhia

de

Saneamento

do

Parana

24,184

Total

24,184

Germany

(<0.1%)

4,164

Bayerische

Motoren

Werke

AG

387,588

Total

387,588

Russian

Federation

(<0.1%)

171

Transneft

PJSC

a,c,e

0

Total

0

South

Korea

(0.1%)

20,184

Samsung

Electronics

Company,

Ltd.

813,142

Total

813,142

Total

Preferred

Stock

(cost

$1,603,251)

1,224,914

Principal

Amount

Long-Term

Fixed

Income

(

<0.1%

)

Venezuela

(0.1%)

Petroleos

de

Venezuela

SA

$

11,370,000

6.000%, 

10/28/2022

g

483,225

7,010,000

6.000%, 

5/16/2024

g

368,025

1,326,000

6.000%, 

11/15/2026

g

69,615

1,410,000

5.375%, 

4/12/2027

g

74,025

210,000

5.500%, 

4/12/2037

g

11,025

Total

1,005,915

Total

Long-Term

Fixed

Income

(cost

$7,583,707)

1,005,915

Shares

or

Principal

Amount

Short-Term

Investments

(

3.1%

)

Federal

Home

Loan

Bank

Discount

Notes

100,000

5.270%,

 10/25/2023

h,i

99,673

500,000

5.284%,

 11/15/2023

h,i

496,874

100,000

5.315%,

 12/13/2023

h,i

98,976

100,000

5.320%,

 12/14/2023

h,i

98,962

1,300,000

5.315%,

 12/15/2023

h,i

1,286,323

Shares

or

Principal

Amount

Short-Term

Investments

(3.1%)

Value

Thrivent

Core

Short-Term

Reserve

Fund

3,826,018

5.650%

$

38,260,185

Total

Short-Term

Investments

(cost

$40,299,203)

40,340,993

Total

Investments

(cost

$1,209,397,873)

99.6%

$1,284,207,469

Other

Assets

and

Liabilities,

Net

0.4%

4,760,618

Total

Net

Assets

100.0%

$1,288,968,087

a

Non-income

producing

security.

b

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$22,696,968

or

1.8%

of

total

net

assets.

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

All

or

a

portion

of

the

security

is

on

loan.

e

Pursuant

to

sanctions

related

to

the

Russian

invasion

of

Ukraine

which

restricts

the

ability

of

Russia

and

its

allied

nations

to

make

payments

on

its

dollar-denominated

sovereign

debt

and

equity,

existing

accruals

on

these

securities

have

been

reserved

and

income

is

currently

not

being

accrued.

f

In

bankruptcy.  Income

is

not

being

accrued

per

the

bankruptcy

agreement

terms.

g

Defaulted

security.  Interest

is

not

being

accrued.

h

The

interest

rate

shown

reflects

the

yield.

i

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

International

Allocation

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Common

Stock

$

2,883,637

Total

lending

$2,883,637

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$3,033,550

Net

amounts

due

to

counterparty

$149,913

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

Bhd

-

Borhad

-

suffix

used

in

Malaysia

to

identify

a

Public

Limited

Company

GDR

-

Global

Depository

Receipts,

which

are

certificates

for

shares

of

an

underlying

foreign

security’s

shares

held

by

an

issuing

depository

bank

from

more

than

one

country.

NVDR

-

Non-Voting

Depository

Receipts

pcl

-

Public

Company

Limited

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

International

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

156

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

International

Allocation

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services^

59,836,137

2,747,563

57,088,573

1

Consumer

Discretionary

161,179,354

3,594,011

157,585,343

–

Consumer

Staples^

76,894,208

2,332,855

74,560,763

590

Energy^

80,834,937

7,834,860

73,000,052

25

Financials^

218,984,030

441,568

218,542,462

0

Health

Care

159,437,913

318,903

159,119,010

–

Industrials

177,343,116

27,260

177,315,856

–

Information

Technology

135,033,643

6,587,213

128,446,430

–

Materials^

107,838,621

1,545,602

106,293,005

14

Real

Estate

27,082,137

260,333

26,821,804

–

Utilities

34,138,001

113,822

34,024,179

–

Preferred

Stock

Consumer

Discretionary

387,588

–

387,588

–

Energy^

–

–

–

0

Information

Technology

813,142

–

813,142

–

Utilities

24,184

–

24,184

–

Long-Term

Fixed

Income

Energy

1,005,915

–

1,005,915

–

Short-Term

Investments

2,080,808

–

2,080,808

–

Subtotal

Investments

in

Securities

$1,242,913,734

$25,803,990

$1,217,109,114

$630

Other

Investments  *

Total

Affiliated

Short-Term

Investments

38,260,185

Collateral

Held

for

Securities

Loaned

3,033,550

Subtotal

Other

Investments

$41,293,735

Total

Investments

at

Value

$1,284,207,469

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.

^

Level

3

security

in

this

section

is

fair

valued

at

<$1.  

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

International

Allocation

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Liability

Derivatives

Futures

Contracts

1,472,071

1,472,071

–

–

Total

Liability

Derivatives

$1,472,071

$1,472,071

$–

$–

International

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

157

Reference

Description:

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

The

following

table

presents

International

Allocation

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$2,080,808

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Amount

Value

and

Unrealized

ICE

mini

MSCI

EAFE

Index

486

December

2023

$

51,002,291

(

$

1,393,841)

ICE

US

mini

MSCI

Emerging

Markets

Index

65

December

2023

3,183,605

(

78,230)

Total

Futures

Long

Contracts

$

54,185,896

(

$

1,472,071)

Total

Futures

Contracts

$

54,185,896

($1,472,071)

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

International

Allocation

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$80,260

$467,057

$509,057

$38,260

3,826

3.0%

Total

Affiliated

Short-Term

Investments

80,260

38,260

3.0

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

982

87,555

85,503

3,034

3,034

0.2

Total

Collateral

Held

for

Securities

Loaned

982

3,034

0.2

Total

Value

$81,242

$41,294

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$2,259

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$2,259

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

178

Total

Affiliated

Income

from

Securities

Loaned,

Net

$178

Total

Value

$–

$–

$

–

International

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

158

Shares

Common

Stock

(

97

.7

%

)

Value

Australia

(7.0%)

2,709

Ampol,

Ltd.

$

58,488

14,315

APA

Group

76,153

6,689

Aristocrat

Leisure,

Ltd.

174,760

2,201

ASX,

Ltd.

80,508

20,924

Aurizon

Holdings,

Ltd.

46,784

34,162

Australia

and

New

Zealand

Banking

Group,

Ltd.

560,314

57,585

BHP

Group,

Ltd.

1,617,612

5,179

BlueScope

Steel,

Ltd.

64,134

15,793

Brambles,

Ltd.

145,083

746

Cochlear,

Ltd.

122,182

15,214

Coles

Group,

Ltd.

151,849

19,054

Commonwealth

Bank

of

Australia

1,217,095

6,520

Computershare,

Ltd.

108,653

5,483

CSL,

Ltd.

883,328

12,226

DEXUS

Property

Group

56,991

16,287

Endeavour

Group,

Ltd.

54,989

19,250

Fortescue

Metals

Group,

Ltd.

255,891

19,273

Goodman

Group

264,153

21,775

GPT

Group

54,225

2,848

IDP

Education,

Ltd.

38,976

7,747

Independence

Group

NL

62,170

27,743

Insurance

Australia

Group,

Ltd.

100,639

7,836

Lendlease

Corporation,

Ltd.

35,936

25,301

Lottery

Corporation,

Ltd.

76,460

4,174

Macquarie

Group,

Ltd.

446,986

31,306

Medibank

Private,

Ltd.

69,097

1,990

Mineral

Resources,

Ltd.

85,454

44,854

Mirvac

Group

60,965

35,688

National

Australia

Bank,

Ltd.

662,525

10,165

Newcrest

Mining,

Ltd.

160,165

13,075

Northern

Star

Resources,

Ltd.

86,821

5,178

Orica,

Ltd.

51,629

19,583

Origin

Energy,

Ltd.

110,271

30,673

Pilbara

Minerals,

Ltd.

83,682

9,778

Qantas

Airways,

Ltd.

a

32,370

16,961

QBE

Insurance

Group,

Ltd.

169,903

2,094

Ramsay

Health

Care,

Ltd.

69,501

601

REA

Group,

Ltd.

59,356

2,570

Reece,

Ltd.

30,592

4,220

Rio

Tinto,

Ltd.

304,380

36,919

Santos,

Ltd.

186,110

59,001

Scentre

Group

92,712

4,049

SEEK,

Ltd.

57,201

5,084

Sonic

Healthcare,

Ltd.

97,079

51,670

South32,

Ltd.

111,566

27,136

Stockland

67,915

14,397

Suncorp

Group,

Ltd.

128,272

45,970

Telstra

Corporation,

Ltd.

113,576

35,018

Transurban

Group

284,544

8,206

Treasury

Wine

Estates,

Ltd.

64,800

43,985

Vicinity

Centres

47,669

2,667

Washington

H.

Soul

Pattinson

and

Company,

Ltd.

55,636

12,896

Wesfarmers,

Ltd.

436,452

39,889

Westpac

Banking

Corporation

539,202

1,886

Wisetech

Global,

Ltd.

78,289

21,584

Woodside

Energy

Group,

Ltd.

501,851

13,853

Woolworths,

Ltd.

331,658

Total

11,985,602

Austria

(0.2%)

3,909

Erste

Group

Bank

AG

135,005

1,674

OMV

AG

79,958

774

Verbund

AG

62,966

Shares

Common

Stock

(97.7%)

Value

Austria

(0.2%)

-

continued

1,319

Voestalpine

AG

$

35,910

Total

313,839

Belgium

(0.8%)

1,816

Ageas

SA

NV

74,794

9,874

Anheuser-Busch

InBev

NV

547,377

244

D'ieteren

Group

41,137

334

Elia

System

Operator

SA

32,685

1,084

Groupe

Bruxelles

Lambert

SA

80,661

2,845

KBC

Groep

NV

177,120

5

Lotus

Bakeries

NV

40,651

175

Sofina

SA

35,370

842

Solvay

SA

93,049

1,437

UCB

SA

117,704

2,381

Umicore

SA

56,374

1,884

Warehouses

De

Pauw

CVA

46,561

Total

1,343,483

Bermuda

(0.1%)

7,000

CK

Infrastructure

Holdings,

Ltd.

33,028

12,600

Hongkong

Land

Holdings,

Ltd.

44,936

1,800

Jardine

Matheson

Holdings,

Ltd.

83,556

Total

161,520

Cayman

Islands

(0.3%)

19,600

Budweiser

Brewing

Company

APAC,

Ltd.

b

38,518

24,800

ESR

Cayman,

Ltd.

b

34,669

631

Futu

Holdings,

Ltd.

ADR

a

36,478

21,297

Grab

Holdings,

Ltd.

a

75,392

27,600

Sands

China,

Ltd.

a

83,931

4,148

Sea,

Ltd.

ADR

a

182,305

15,000

SITC

International

Holdings

Company,

Ltd.

25,167

95,033

WH

Group,

Ltd.

b

49,742

19,000

Wharf

Real

Estate

Investment

Company,

Ltd.

73,225

Total

599,427

Denmark

(3.2%)

34

A.P.

Moller

-

Maersk

AS,

Class

A

60,170

55

A.P.

Moller

-

Maersk

AS,

Class

B

98,939

1,119

Carlsberg

AS

141,089

1,199

Christian

Hansen

Holding

AS

73,347

1,553

Coloplast

AS

164,334

7,841

Danske

Bank

AS

181,958

1,146

Demant

AS

a

47,320

2,116

DSV

AS

394,297

751

Genmab

AS

a

265,892

37,096

Novo

Nordisk

AS

3,377,637

2,325

Novozymes

AS

93,546

2,150

Orsted

AS

b

116,967

961

Pandora

AS

99,167

105

Rockwool

International

AS

25,377

3,969

Tryg

AS

72,630

11,480

Vestas

Wind

Systems

AS

a

245,602

Total

5,458,272

Finland

(1.1%)

1,617

Elisa

Oyj

74,985

5,100

Fortum

Oyj

59,145

3,105

Kesko

Oyj

55,630

3,864

KONE

Oyj

162,829

7,539

Metso

Oyj

79,061

4,809

Neste

Oil

Oyj

162,874

International

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

159

Shares

Common

Stock

(97.7%)

Value

Finland

(1.1%)

-

continued

60,823

Nokia

Oyj

$

228,699

36,619

Nordea

Bank

Abp

401,481

1,224

Orion

Oyj

48,086

5,228

Sampo

Oyj

226,014

6,613

Stora

Enso

Oyj

82,883

6,067

UPM-Kymmene

Oyj

207,740

5,381

Wartsila

Corporation

60,988

Total

1,850,415

France

(10.9%)

2,108

Accor

SA

70,902

337

Aeroports

de

Paris

SA

39,743

5,954

Air

Liquide

SA

1,002,842

3,256

Alstom

SA

77,386

695

Amundi

SA

b

39,036

682

Arkema

SA

67,136

20,862

AXA

SA

618,952

471

BioMerieux

45,565

11,926

BNP

Paribas

SA

758,330

8,387

Bollore

SA

45,015

2,167

Bouygues

SA

75,768

3,353

Bureau

Veritas

SA

83,141

1,875

Capgemini

SA

327,176

6,792

Carrefour

SA

116,653

7,712

Cie

Generale

des

Etablissements

Michelin

SCA

236,041

5,258

Compagnie

de

Saint-Gobain

SA

314,694

574

Covivio

25,461

13,759

Credit

Agricole

SA

169,164

7,319

Danone

SA

403,700

235

Dassault

Aviation

SA

44,262

7,616

Dassault

Systemes

SE

282,877

2,837

Edenred

SE

177,471

836

Eiffage

SA

79,351

20,762

Engie

SA

318,410

3,352

EssilorLuxottica

SA

583,066

495

Eurazeo

SE

29,455

523

Gecina

SA

53,324

4,064

Groupe

Eurotunnel

SA

64,788

360

Hermes

International

SCA

656,218

429

Ipsen

SA

56,208

846

Kering

SA

384,391

2,446

Klepierre

SA

59,892

1,194

La

Francaise

des

Jeux

SAEM

b

38,781

3,033

Legrand

SA

279,940

2,742

L'Oreal

SA

1,136,318

3,139

LVMH

Moet

Hennessy

Louis

Vuitton

SE

2,369,414

21,167

Orange

SA

242,791

2,325

Pernod-Ricard

SA

387,089

2,602

Publicis

Groupe

SA

196,952

260

Remy

Cointreau

SA

31,698

2,185

Renault

SA

89,403

3,885

Safran

SA

608,815

12,915

Sanofi

1,386,751

314

Sartorius

Stedim

Biotech

74,702

6,186

Schneider

Electric

SE

1,019,405

283

SEB

SA

26,400

8,269

Societe

Generale

SA

200,090

1,006

Sodexo

SA

103,565

672

Teleperformance

SE

84,374

1,195

Thales

SA

167,949

25,562

TotalEnergies

SE

1,680,685

2,353

Valeo

SE

40,377

7,725

Veolia

Environnement

SA

223,300

Shares

Common

Stock

(97.7%)

Value

France

(10.9%)

-

continued

6,041

Vinci

SA

$

668,322

7,766

Vivendi

SE

68,016

303

Wendel

SA

23,951

2,731

Worldline

SA

a,b

76,663

Total

18,532,169

Germany

(7.8%)

1,842

Adidas

AG

323,103

4,585

Allianz

SE

1,091,121

10,161

BASF

SE

459,937

11,168

Bayer

AG

536,337

3,422

Bayerische

Motoren

Werke

AG

347,563

931

Bechtle

AG

43,357

1,146

Beiersdorf

AG

147,822

1,665

Brenntag

AG

128,832

458

Carl

Zeiss

Meditec

AG

39,925

12,101

Commerzbank

AG

137,338

1,250

Continental

AG

87,827

2,196

Covestro

AG

a,b

118,090

5,613

Daimler

Truck

Holding

AG

194,346

1,991

Delivery

Hero

AG

a,b

56,850

22,033

Deutsche

Bank

AG

242,149

2,160

Deutsche

Boerse

AG

373,025

6,795

Deutsche

Lufthansa

AG

a

53,772

11,268

Deutsche

Post

AG

457,205

36,844

Deutsche

Telekom

AG

772,870

1,294

Dr.

Ing.

h.c.

F.

Porsche

AG

b

121,412

25,521

E.ON

SE

301,812

2,384

Evonik

Industries

AG

43,485

2,335

Fresenius

Medical

Care

AG

&

Company

KGaA

100,386

4,802

Fresenius

SE

&

Company

KGaA

149,151

1,744

GEA

Group

AG

64,274

685

Hannover

Rueckversicherung

SE

150,302

1,646

Heidelberg

Materials

AG

127,483

1,748

HelloFresh

SE

a

51,941

1,181

Henkel

AG

&

Company

KGaA

74,464

14,845

Infineon

Technologies

AG

491,678

825

Knorr-Bremse

AG

52,303

842

LEG

Immobilien

AG

a

57,902

9,121

Mercedes-Benz

Group

AG

634,792

1,469

Merck

KGaA

244,893

612

MTU

Aero

Engines

AG

110,839

1,551

Muenchener

Rueckversicherungs-

Gesellschaft

AG

604,041

656

Nemetschek

SE

39,923

1,741

Porsche

Automobil

Holding

SE

85,639

1,200

PUMA

SE

74,199

58

Rational

AG

36,697

495

Rheinmetall

AG

127,339

7,187

RWE

AG

266,780

11,870

SAP

SE

1,536,477

298

Sartorius

AG

100,931

849

Scout24

SE

b

58,868

8,639

Siemens

AG

1,234,589

5,906

Siemens

Energy

AG

a

76,971

3,206

Siemens

Healthineers

AG

b

162,166

1,509

Symrise

AG

143,655

720

Talanx

AG

45,569

10,144

Telefonica

Deutschland

Holding

AG

18,143

335

Volkswagen

AG

43,995

8,334

Vonovia

SE

199,669

207

Wacker

Chemie

AG

29,559

International

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

160

Shares

Common

Stock

(97.7%)

Value

Germany

(7.8%)

-

continued

2,547

Zalando

SE

a,b

$

56,590

Total

13,330,386

Hong

Kong

(2.0%)

131,400

AIA

Group,

Ltd.

1,062,651

42,000

BOC

Hong

Kong

(Holdings),

Ltd.

114,655

22,500

CK

Asset

Holdings,

Ltd.

118,184

30,500

CK

Hutchison

Holdings,

Ltd.

161,927

18,500

CLP

Holdings,

Ltd.

136,602

25,000

Galaxy

Entertainment

Group,

Ltd.

149,590

20,000

Hang

Lung

Properties,

Ltd.

27,363

8,700

Hang

Seng

Bank,

Ltd.

107,945

17,000

Henderson

Land

Development

Company,

Ltd.

44,641

43,000

HKT

Trust

and

HKT,

Ltd.

44,839

127,162

Hong

Kong

and

China

Gas

Company,

Ltd.

88,478

13,700

Hong

Kong

Exchanges

&

Clearing,

Ltd.

508,445

28,760

Link

REIT

140,623

17,500

MTR

Corporation,

Ltd.

69,132

17,000

New

World

Development

Company,

Ltd.

32,961

15,500

Power

Assets

Holdings,

Ltd.

74,857

42,571

Sino

Land

Company,

Ltd.

47,877

16,500

Sun

Hung

Kai

Properties,

Ltd.

176,054

5,000

Swire

Pacific,

Ltd.

33,678

13,200

Swire

Properties,

Ltd.

27,452

15,500

Techtronic

Industries

Company,

Ltd.

149,631

19,000

Xinyi

Glass

Holdings

Company,

Ltd.

24,483

Total

3,342,068

Ireland

(0.9%)

16,373

AIB

Group

plc

73,387

12,011

Bank

of

Ireland

Group

plc

117,415

8,248

CRH

plc

c

428,842

1,123

DCC

plc

62,877

2,007

Flutter

Entertainment

plc

a

327,403

5,003

James

Hardie

Industries

plc

a

130,845

1,812

Kerry

Group

plc

151,401

1,758

Kingspan

Group

plc

131,293

2,957

Smurfit

Kappa

Group

plc

98,231

Total

1,521,694

Isle

of

Man

(<0.1%)

7,261

Entain

plc

82,354

Total

82,354

Israel

(0.7%)

482

Azrieli

Group,

Ltd.

24,742

14,441

Bank

Hapoalim

BM

128,664

17,448

Bank

Leumi

Le-Israel

BM

144,572

1,064

Check

Point

Software

Technologies,

Ltd.

a

141,810

475

CyberArk

Software,

Ltd.

a

77,791

302

Elbit

Systems,

Ltd.

59,858

1,000

Global-e

Online,

Ltd.

a

39,740

8,794

ICL

Group,

Ltd.

48,526

14,062

Israel

Discount

Bank,

Ltd.

76,218

1,755

Mizrahi

Tefahot

Bank,

Ltd.

63,732

247

Monday.com,

Ltd.

a

39,327

719

NICE,

Ltd.

a

122,632

Shares

Common

Stock

(97.7%)

Value

Israel

(0.7%)

-

continued

12,736

Teva

Pharmaceutical

Industries,

Ltd.

ADR

a

$

129,907

617

Wix.com,

Ltd.

a

56,641

Total

1,154,160

Italy

(1.9%)

1,415

Amplifon

SPA

41,885

11,521

Assicurazioni

Generali

SPA

235,171

5,942

Davide

Campari-Milano

NV

69,951

254

DiaSorin

SPA

23,130

92,455

Enel

SPA

567,003

26,863

Eni

SPA

431,522

6,941

Finecobank

Banca

Fineco

SPA

83,815

3,820

Infrastrutture

Wireless

Italiane

SPA

b

45,391

176,654

Intesa

Sanpaolo

SPA

452,450

6,275

Mediobanca

SPA

82,730

2,341

Moncler

SPA

135,673

6,713

Nexi

Spa

a,b

40,903

5,939

Poste

Italiane

SPA

b

62,367

2,985

Prysmian

SPA

119,813

1,189

Recordati

SPA

56,032

22,923

Snam

SPA

107,561

113,267

Telecom

Italia

SPA

a

35,324

15,994

Terna

Rete

Elettrica

Nazionale

SPA

120,298

20,959

UniCredit

SPA

499,377

Total

3,210,396

Japan

(22.5%)

8,800

Advantest

Corporation

a

245,463

7,400

Aeon

Company,

Ltd.

146,580

2,200

AGC,

Inc.

77,104

1,700

Aisin

Corporation

64,235

5,100

Ajinomoto

Company,

Inc.

196,649

1,800

All

Nippon

Airways

Company,

Ltd.

a

37,689

5,507

Asahi

Group

Holdings,

Ltd.

205,711

2,500

Asahi

Intecc

Company,

Ltd.

44,821

14,300

Asahi

Kasei

Corporation

90,011

20,600

Astellas

Pharma,

Inc.

285,138

1,300

Azbil

Corporation

39,714

6,800

Bandai

Namco

Holdings,

Inc.

138,315

1,500

BayCurrent

Consulting,

Inc.

49,984

6,500

Bridgestone

Corporation

253,292

2,600

Brother

Industries,

Ltd.

41,881

11,400

Canon,

Inc.

274,611

2,000

Capcom

Company,

Ltd.

71,984

8,000

Central

Japan

Railway

Company

a

194,544

6,000

Chiba

Bank,

Ltd.

43,591

7,300

Chubu

Electric

Power

Company,

Inc.

92,928

7,600

Chugai

Pharmaceutical

Company,

Ltd.

234,339

12,000

Concordia

Financial

Group,

Ltd.

54,666

4,900

CyberAgent,

Inc.

26,377

2,500

Dai

Nippon

Printing

Company,

Ltd.

65,045

3,500

Daifuku

Company,

Ltd.

66,068

10,700

Dai-Ichi

Mutual

Life

Insurance

Company,

Ltd.

220,894

21,000

Daiichi

Sankyo

Company,

Ltd.

574,924

3,000

Daikin

Industries,

Ltd.

470,315

700

Daito

Trust

Construction

Company,

Ltd.

73,733

6,700

Daiwa

House

Industry

Company,

Ltd.

179,824

25

Daiwa

House

REIT

Investment

Corporation

44,109

International

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

161

Shares

Common

Stock

(97.7%)

Value

Japan

(22.5%)

-

continued

15,200

Daiwa

Securities

Group,

Inc.

$

87,652

19,600

Denso

Corporation

a

314,499

2,300

Dentsu

Group,

Inc.

67,647

1,000

DISCO

Corporation

184,756

3,400

East

Japan

Railway

Company

194,572

2,900

Eisai

Company,

Ltd.

160,729

32,800

Eneos

Holdings,

Inc.

129,105

10,800

FANUC

Corporation

280,880

2,000

Fast

Retailing

Company,

Ltd.

435,630

1,400

Fuji

Electric

Company,

Ltd.

63,050

4,200

FUJIFILM

Holdings

NPV

242,973

2,000

Fujitsu,

Ltd.

235,222

53

GLP

J-REIT

47,372

500

GMO

Payment

Gateway,

Inc.

27,282

2,400

Hakuhodo

DY

Holdings,

Inc.

19,714

1,600

Hamamatsu

Photonics

KK

67,286

2,600

Hankyu

Hanshin

Holdings,

Inc.

88,714

200

Hikari

Tsushin,

Inc.

30,459

400

Hirose

Electric

Company,

Ltd.

46,269

1,200

Hitachi

Construction

Machinery

Company,

Ltd.

36,415

10,700

Hitachi,

Ltd.

663,160

52,500

Honda

Motor

Company,

Ltd.

a

590,609

1,200

Hoshizaki

Corporation

41,657

4,000

Hoya

Corporation

409,670

4,400

Hulic

Company,

Ltd.

39,454

1,300

IBIDEN

Company,

Ltd.

68,953

2,200

Idemitsu

Kosan

Company,

Ltd.

50,435

1,800

Iida

Group

Holdings

Company,

Ltd.

29,870

11,000

Inpex

Corporation

164,982

6,600

Isuzu

Motors,

Ltd.

82,973

13,500

ITOCHU

Corporation

487,538

1,600

Japan

Airlines

Company,

Ltd.

31,087

5,700

Japan

Exchange

Group,

Inc.

105,600

79

Japan

Metropolitan

Fund

Investment

Corporation

51,236

16,400

Japan

Post

Bank

Company,

Ltd.

142,710

25,600

Japan

Post

Holdings

Company,

Ltd.

204,804

2,200

Japan

Post

Insurance

Company,

Ltd.

37,001

15

Japan

Real

Estate

Investment

Corporation

58,451

13,600

Japan

Tobacco,

Inc.

312,909

5,600

JFE

Holdings,

Inc.

82,008

2,000

JSR

Corporation

53,655

4,800

Kajima

Corporation

78,134

8,000

Kansai

Electric

Power

Company,

Inc.

110,756

5,300

Kao

Corporation

196,445

1,600

Kawasaki

Kisen

Kaisha,

Ltd.

d

54,601

17,000

KDDI

Corporation

520,378

1,200

Keio

Corporation

41,254

1,500

Keisei

Electric

Railway

Company,

Ltd.

51,958

2,200

Keyence

Corporation

813,617

1,500

Kikkoman

Corporation

78,619

2,100

Kintetsu

Group

Holdings

Company,

Ltd.

59,541

8,800

Kirin

Holdings

Company,

Ltd.

123,204

600

Kobayashi

Pharmaceutical

Company,

Ltd.

26,760

1,700

Kobe

Bussan

Company,

Ltd.

39,799

1,340

Koei

Tecmo

Holdings

Company,

Ltd.

19,038

2,400

Koito

Manufacturing

Company,

Ltd.

36,191

Shares

Common

Stock

(97.7%)

Value

Japan

(22.5%)

-

continued

10,500

Komatsu,

Ltd.

$

283,197

1,100

Konami

Group

Corporation

57,997

400

KOSE

Corporation

28,993

11,500

Kubota

Corporation

169,174

1,200

Kurita

Water

Industries,

Ltd.

41,759

3,600

Kyocera

Corporation

182,512

3,100

Kyowa

Hakko

Kirin

Company,

Ltd.

53,899

900

Lasertec

Corporation

139,961

3,300

LIXIL

Corporation

38,352

30,400

LY

Corporation

84,333

5,000

M3,

Inc.

90,694

2,500

Makita

Corporation

61,648

16,400

Marubeni

Corporation

255,647

3,900

MatsukiyoCocokara

&

Company

a

69,861

6,500

Mazda

Motor

Corporation

73,804

1,000

McDonald's

Holdings

Company

(Japan),

Ltd.

38,209

2,700

MEIJI

Holdings

Company,

Ltd.

67,106

4,100

Minebea

Mitsumu,

Inc.

66,802

3,200

MISUMI

Group,

Inc.

49,832

14,600

Mitsubishi

Chemical

Group

Corporation

91,981

13,100

Mitsubishi

Corporation

624,219

22,000

Mitsubishi

Electric

Corporation

271,798

12,800

Mitsubishi

Estate

Company,

Ltd.

166,989

9,200

Mitsubishi

HC

Capital,

Inc.

61,300

3,600

Mitsubishi

Heavy

Industries,

Ltd.

200,797

129,800

Mitsubishi

UFJ

Financial

Group,

Inc.

1,099,945

14,900

Mitsui

&

Company,

Ltd.

540,422

1,900

Mitsui

Chemicals,

Inc.

49,225

10,100

Mitsui

Fudosan

Company,

Ltd.

222,443

3,900

Mitsui

O.S.K.

Lines,

Ltd.

107,168

27,430

Mizuho

Financial

Group,

Inc.

465,705

2,800

MonotaRO

Company,

Ltd.

29,851

4,900

MS

and

AD

Insurance

Group

Holdings,

Inc.

179,312

19,500

Murata

Manufacturing

Company,

Ltd.

a

355,722

2,800

NEC

Corporation

154,623

3,900

NEXON

Company,

Ltd.

69,688

2,700

NGK

Insulators,

Ltd.

35,785

4,700

Nidec

Corporation

217,015

11,800

Nintendo

Company,

Ltd.

490,325

17

Nippon

Building

Fund,

Inc.

68,842

800

Nippon

Express

Holdings,

Inc.

41,744

10,800

Nippon

Paint

Holdings

Company,

Ltd.

72,534

26

Nippon

Prologis

REIT,

Inc.

48,541

2,000

Nippon

Sanso

Holdings

Corporation

47,353

9,700

Nippon

Steel

Corporation

227,253

339,700

Nippon

Telegraph

and

Telephone

Corporation

402,081

5,500

Nippon

Yusen

Kabushiki

Kaisha

142,807

1,400

Nissan

Chemical

Corporation

59,513

26,400

Nissan

Motor

Company,

Ltd.

116,510

700

Nissin

Foods

Holdings

Company,

Ltd.

58,165

900

Nitori

Holdings

Company,

Ltd.

100,346

1,600

Nitto

Denko

Corporation

104,921

34,200

Nomura

Holdings,

Inc.

136,952

1,200

Nomura

Real

Estate

Holdings,

Inc.

30,127

48

Nomura

Real

Estate

Master

Fund,

Inc.

53,760

4,400

Nomura

Research

Institute,

Ltd.

114,364

International

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

162

Shares

Common

Stock

(97.7%)

Value

Japan

(22.5%)

-

continued

7,200

NTT

Data

Group

Corporation

$

96,346

7,400

Obayashi

Corporation

65,119

800

OBIC

Company,

Ltd.

121,216

3,600

Odakyu

Electric

Railway

Company,

Ltd.

53,790

9,800

Oji

Holdings

Corporation

41,231

14,400

Olympus

Corporation

186,962

2,000

OMRON

Corporation

89,003

4,400

Ono

Pharmaceutical

Company,

Ltd.

84,385

900

Open

House

Company,

Ltd.

30,516

400

Oracle

Corporation

Japan

29,630

12,400

Oriental

Land

Company,

Ltd.

406,815

13,300

ORIX

Corporation

248,343

4,300

Osaka

Gas

Company,

Ltd.

70,756

1,300

Otsuka

Corporation

55,001

4,400

Otsuka

Holdings

Company,

Ltd.

156,222

4,300

Pan

Pacific

International

Holdings

Company

90,244

25,100

Panasonic

Holdings

Corporation

283,323

21,000

Persol

Holdings

Company,

Ltd.

a

34,109

17,000

Rakuten

Group,

Inc.

69,849

16,400

Recruit

Holdings

Company,

Ltd.

501,759

14,500

Renesas

Electronics

Corporation

a

221,487

24,300

Resona

Holdings,

Inc.

134,359

6,200

Ricoh

Company,

Ltd.

53,493

4,000

Rohm

Company,

Ltd.

a

75,197

2,800

SBI

Holdings,

Inc.

58,928

1,800

SCSK

Corporation

31,383

2,400

Secom

Company,

Ltd.

162,818

3,300

Seiko

Epson

Corporation

51,825

4,400

Sekisui

Chemical

Company,

Ltd.

63,303

6,800

Sekisui

House,

Ltd.

135,330

8,600

Seven

&

I

Holdings

Company,

Ltd.

336,692

3,600

SG

Holdings

Company,

Ltd.

46,087

3,000

Sharp

Corporation

a

18,677

2,700

Shimadzu

Corporation

71,618

900

Shimano,

Inc.

120,460

6,300

Shimizu

Corporation

43,762

20,700

Shin-Etsu

Chemical

Company,

Ltd.

601,245

3,000

Shionogi

&

Company,

Ltd.

133,813

4,500

Shiseido

Company,

Ltd.

157,699

5,300

Shizuoka

Financial

Group,

Inc.

43,192

700

SMC

Corporation

313,784

32,700

SoftBank

Corporation

370,108

11,700

SoftBank

Group

Corporation

492,869

3,400

Sompo

Holdings,

Inc.

145,713

14,300

Sony

Group

Corporation

1,169,391

1,000

Square

Enix

Holdings

Company,

Ltd.

34,265

7,000

Subaru

Corporation

136,111

4,000

Sumco

Corporation

52,052

16,100

Sumitomo

Chemical

Company,

Ltd.

43,791

11,900

Sumitomo

Corporation

237,499

8,100

Sumitomo

Electric

Industries,

Ltd.

97,580

2,800

Sumitomo

Metal

Mining

Company,

Ltd.

82,225

14,400

Sumitomo

Mitsui

Financial

Group,

Inc.

707,415

3,700

Sumitomo

Mitsui

Trust

Holdings,

Inc.

139,294

3,200

Sumitomo

Realty

&

Development

Company,

Ltd.

83,077

1,600

Suntory

Beverage

and

Food,

Ltd.

48,693

4,200

Suzuki

Motor

Corporation

168,928

1,900

Sysmex

Corporation

90,283

5,700

T&D

Holdings,

Inc.

93,737

Shares

Common

Stock

(97.7%)

Value

Japan

(22.5%)

-

continued

1,900

Taisei

Corporation

$

66,872

18,000

Takeda

Pharmaceutical

Company,

Ltd.

557,937

4,400

TDK

Corporation

162,669

7,600

Terumo

Corporation

201,178

2,500

TIS,

Inc.

54,973

2,100

Tobu

Railway

Company,

Ltd.

53,973

1,300

Toho

Company,

Ltd.

44,350

20,500

Tokio

Marine

Holdings,

Inc.

474,651

17,400

Tokyo

Electric

Power

Company

Holdings,

Inc.

a

77,616

5,400

Tokyo

Electron,

Ltd.

737,598

4,400

Tokyo

Gas

Company,

Ltd.

99,760

5,700

Tokyu

Corporation

65,718

2,800

TOPPAN

Holdings,

Inc.

66,980

15,800

Toray

Industries,

Inc.

82,208

3,000

Tosoh

Corporation

38,463

1,500

TOTO,

Ltd.

38,707

1,700

Toyota

Industries

Corporation

133,816

120,500

Toyota

Motor

Corporation

2,161,810

2,400

Toyota

Tsusho

Corporation

141,159

1,500

Trend

Micro,

Inc.

56,780

4,600

Unicharm

Corporation

162,646

2,300

USS

Company,

Ltd.

38,022

1,100

Welcia

Holdings

Company,

Ltd.

18,996

2,500

West

Japan

Railway

Company

103,452

2,950

Yakult

Honsha

Company,

Ltd.

a

71,646

1,600

Yamaha

Corporation

43,699

3,400

Yamaha

Motor

Company,

Ltd.

89,376

3,000

Yamato

Holdings

Company,

Ltd.

48,829

2,700

Yaskawa

Electric

Corporation

97,230

2,600

Yokogawa

Electric

Corporation

50,182

1,100

Zensho

Holdings

Company,

Ltd.

47,767

1,600

ZOZO,

Inc.

29,298

Total

38,338,891

Jersey

(0.7%)

10,458

Experian

plc

342,058

119,727

Glencore

plc

681,791

12,218

WPP

plc

108,855

Total

1,132,704

Luxembourg

(0.2%)

5,817

ArcelorMittal

SA

145,635

1,534

Eurofins

Scientific

SE

86,452

5,368

Tenaris

SA

84,792

Total

316,879

Netherlands

(5.7%)

4,591

ABN

AMRO

Bank

NV

b

64,882

247

Adyen

NV

a,b

183,134

19,325

Aegon,

Ltd.

93,141

1,988

AerCap

Holdings

NV

a

124,588

6,739

Airbus

SE

902,005

1,939

Akzo

Nobel

NV

139,799

636

Argenx

SE

a

310,894

534

ASM

International

NV

222,995

4,583

ASML

Holding

NV

2,698,243

1,817

ASR

Nederland

NV

67,987

876

BE

Semiconductor

Industries

NV

85,678

11,632

CNH

Industrial

NV

141,208

974

Euronext

NV

b

67,751

1,233

EXOR

NV

109,057

1,433

Ferrari

NV

422,428

5,788

Ferrovial

SE

176,864

International

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

163

Shares

Common

Stock

(97.7%)

Value

Netherlands

(5.7%)

-

continued

1,473

Heineken

Holding

NV

$

111,007

3,274

Heineken

NV

288,641

648

IMCD

NV

81,930

41,144

ING

Groep

NV

542,281

1,429

JDE

Peet's

BV

39,916

36,715

Koninklijke

(Royal)

KPN

NV

120,964

11,041

Koninklijke

Ahold

Delhaize

NV

332,772

10,556

Koninklijke

Philips

NV

210,616

2,850

NN

Group

NV

91,366

1,199

OCI

NV

33,341

17,375

Prosus

NV

a

511,972

2,592

QIAGEN

NV

a

104,586

1,255

Randstad

Holding

NV

69,334

25,149

Stellantis

NV

481,564

7,769

STMicroelectronics

NV

335,023

9,314

Universal

Music

Group

NV

243,060

2,927

Wolters

Kluwer

NV

354,388

Total

9,763,415

New

Zealand

(0.3%)

14,231

Auckland

International

Airport,

Ltd.

67,467

1,746

EBOS

Group,

Ltd.

35,768

6,586

Fisher

&

Paykel

Healthcare

Corporation,

Ltd.

84,914

7,882

Mercury

NZ,

Ltd.

28,800

14,682

Meridian

Energy,

Ltd.

45,153

20,973

Spark

New

Zealand,

Ltd.

60,378

1,635

Xero,

Ltd.

a

117,586

Total

440,066

Norway

(0.7%)

3,313

Adevinta

ASA

a

32,639

3,592

Aker

BP

ASA

99,182

10,521

DNB

Bank

ASA

211,385

10,267

Equinor

ASA

336,471

2,273

Gjensidige

Forsikring

ASA

33,353

1,000

Kongsberg

Gruppen

ASA

41,214

4,996

Mowi

ASA

88,306

15,082

Norsk

Hydro

ASA

94,381

8,538

Orkla

ASA

63,770

825

SalMar

ASA

41,785

7,954

Telenor

ASA

90,203

1,882

Yara

International

ASA

71,063

Total

1,203,752

Portugal

(0.2%)

35,671

EDP

-

Energias

de

Portugal

SA

148,318

5,594

Galp

Energia

SGPS

SA

82,859

3,219

Jeronimo

Martins

SGPS

SA

72,293

Total

303,470

Singapore

(1.3%)

60,529

CapitaLand

Integrated

Commercial

Trust

81,685

29,600

Capitaland

Investment,

Ltd.

66,883

42,454

Capland

Ascendas

REIT

85,149

5,700

City

Developments,

Ltd.

27,508

20,600

DBS

Group

Holdings,

Ltd.

505,929

68,700

Genting

Singapore,

Ltd.

42,411

1,100

Jardine

Cycle

&

Carriage,

Ltd.

25,645

16,600

Keppel

Corporation,

Ltd.

82,433

39,323

Mapletree

Logistics

Trust

48,207

26,800

Mapletree

Pan

Asia

Commercial

Trust

27,970

Shares

Common

Stock

(97.7%)

Value

Singapore

(1.3%)

-

continued

38,463

Oversea-Chinese

Banking

Corporation,

Ltd.

$

359,708

504,209

Seatrium,

Ltd.

a

49,302

10,200

Sembcorp

Industries,

Ltd.

37,912

16,900

Singapore

Airlines,

Ltd.

79,721

9,700

Singapore

Exchange,

Ltd.

69,006

17,700

Singapore

Technologies

Engineering,

Ltd.

50,513

93,900

Singapore

Telecommunications,

Ltd.

166,212

14,400

United

Overseas

Bank,

Ltd.

299,925

5,300

United

Overseas

Land,

Ltd.

24,791

21,800

Wilmar

International,

Ltd.

59,324

Total

2,190,234

Spain

(2.5%)

281

Acciona

SA

35,787

2,490

ACS

Actividades

de

Construccion

y

Servicios

SA

a

89,515

853

Aena

SME

SA

b

128,357

5,121

Amadeus

IT

Holding

SA

309,322

67,812

Banco

Bilbao

Vizcaya

Argentaria

SA

548,798

183,972

Banco

Santander

SA

700,578

46,904

CaixaBank

SA

186,865

6,425

Cellnex

Telecom

SA

b

223,474

749

Corp

ACCIONA

Energias

Renovables

SA

19,292

3,492

EDP

Renovaveis

SA

a

57,190

2,829

Enagas

SA

46,847

3,611

Endesa

SA

73,489

3,391

Grifols

SA

a

43,920

69,207

Iberdrola

SA

774,042

12,400

Industria

de

Diseno

Textil

SA

461,430

1,433

Naturgy

Energy

Group

SA

38,985

4,613

Redeia

Corporacion

SA

72,569

14,521

Repsol

SA

238,856

58,831

Telefonica

SA

240,345

Total

4,289,661

Supranational

(<0.1%)

1,343

Unibail-Rodamco-Westfield

a

66,043

Total

66,043

Sweden

(2.8%)

1,480

AB

Industrivarden,

Class

A

39,026

1,755

AB

Industrivarden,

Class

C

46,246

3,289

Alfa

Laval

AB

112,674

11,394

Assa

Abloy

AB

247,575

30,534

Atlas

Copco

AB,

Class

A

410,092

17,743

Atlas

Copco

AB,

Class

B

207,505

4,375

Beijer

Ref

AB

46,031

3,109

Boliden

AB

89,218

7,491

Epiroc

AB,

Class

A

142,234

4,433

Epiroc

AB,

Class

B

70,916

4,042

EQT

AB

79,640

6,924

Essity

Aktiebolag

149,332

2,083

Evolution

Gaming

Group

AB

b

210,194

7,411

Fastighets

AB

Balder

a

33,222

2,600

Getinge

AB

45,688

7,342

Hennes

&

Mauritz

AB

104,111

23,601

Hexagon

AB

200,862

1,066

Holmen

AB

41,436

3,975

Husqvarna

AB

30,334

3,106

Indutrade

AB

57,364

International

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

164

Shares

Common

Stock

(97.7%)

Value

Sweden

(2.8%)

-

continued

1,683

Investment

AB

Latour

$

29,580

19,675

Investor

AB,

Class

B

376,668

864

L

E

Lundbergforetagen

AB

36,026

2,650

Lifco

AB

46,357

17,227

NIBE

Industrier

AB

112,626

910

Saab

AB

46,315

2,242

Sagax

AB

42,588

12,120

Sandvik

AB

223,012

5,591

Securitas

AB

44,209

18,039

Skandinaviska

Enskilda

Banken

AB

215,058

3,868

Skanska

AB

63,515

3,874

SKF

AB

64,314

6,887

Svenska

Cellulosa

AB

SCA

94,298

16,580

Svenska

Handelsbanken

AB

147,527

9,651

Swedbank

AB

177,399

1,962

Swedish

Orphan

Biovitrum

AB

a

40,089

262

Swedish

Orphan

Biovitrum

AB,

Rights

a,c

5,354

6,118

Tele2

AB

46,787

33,287

Telefonaktiebolaget

LM

Ericsson

162,166

26,819

Telia

Company

AB

55,320

2,276

Volvo

AB,

Class

A

47,265

17,154

Volvo

AB,

Class

B

353,332

6,774

Volvo

Car

AB

a

27,400

Total

4,820,905

Switzerland

(9.9%)

18,184

ABB,

Ltd.

649,045

1,819

Adecco

SA

74,712

5,680

Alcon,

Inc.

438,311

384

Bachem

Holding

AG

28,324

521

Baloise

Holding

AG

75,428

342

Banque

Cantonale

Vaudoise

35,788

41

Barry

Callebaut

AG

65,200

240

BKW

FMB

Energie

42,250

1

Chocoladefabriken

Lindt

and

Spruengli

AG

109,496

2,453

Clariant

AG

38,675

2,512

Coca-Cola

HBC

AG

68,688

5,934

Compagnie

Financiere

Richemont

SA

722,662

2,114

DSM-Firmenich

AG

178,639

1,096

Dufry

AG

a

41,610

80

EMS-CHEMIE

Holding

AG

54,212

380

Geberit

AG

189,498

105

Givaudan

SA

341,862

422

Helvetia

Holding

AG

58,949

5,925

Holcim

AG

379,253

2,342

Julius

Baer

Group,

Ltd.

149,906

618

Kuehne

&

Nagel

International

AG

175,593

11

Lindt

&

Spruengli

AG

122,238

1,866

Logitech

International

SA

128,378

847

Lonza

Group

AG

391,777

30,351

Nestle

SA

3,435,612

23,300

Novartis

AG

2,379,597

258

Partners

Group

Holding

AG

289,629

364

Roche

Holding

AG,

Bearer

Shares

106,939

7,986

Roche

Holding

AG,

Participation

Certificates

2,180,187

267

Schindler

Holding

AG

51,373

463

Schindler

Holding

AG,

Participation

Certificates

92,230

1,704

SGS

SA

143,009

3,476

SIG

Group

AG

85,633

1,664

Sika

AG

421,593

Shares

Common

Stock

(97.7%)

Value

Switzerland

(9.9%)

-

continued

591

Sonova

Holding

AG

$

139,876

1,269

Straumann

Holding

AG

161,517

329

Swatch

Group

AG,

Bearer

Shares

84,609

598

Swatch

Group

AG,

Registered

Shares

29,206

336

Swiss

Life

Holding

AG

209,052

872

Swiss

Prime

Site

AG

79,831

3,429

Swiss

Re

AG

352,160

294

Swisscom

AG

174,574

725

Temenos

AG

50,707

37,387

UBS

Group

AG

920,924

307

VAT

Group

AG

b

109,551

1,710

Zurich

Insurance

Group

AG

782,420

Total

16,840,723

United

Kingdom

(14.0%)

11,064

3i

Group

plc

278,490

21,860

ABRDN

plc

41,302

2,413

Admiral

Group

plc

69,735

14,445

Anglo

American

plc

396,656

4,483

Antofagasta

plc

77,824

4,981

Ashtead

Group

plc

302,063

3,953

Associated

British

Foods

plc

99,315

17,618

AstraZeneca

plc

2,376,410

10,442

Auto

Trader

Group

plc

b

78,462

31,127

Aviva

PLC

147,330

34,652

BAE

Systems

plc

421,088

176,829

Barclays

plc

340,827

11,078

Barratt

Developments

plc

59,396

1,210

Berkeley

Group

Holdings

plc

60,427

197,245

BP

plc

1,271,436

24,151

British

American

Tobacco

plc

758,314

73,405

BT

Group

plc

104,240

3,842

Bunzl

plc

136,829

4,287

Burberry

Group

plc

99,351

63,253

Centrica

plc

118,974

2,347

Coca-Cola

European

Partners

plc

146,641

19,706

Compass

Group

plc

479,678

1,587

Croda

International

plc

94,795

25,543

Diageo

plc

941,728

2,108

Endeavour

Mining

plc

40,693

46,550

GSK

plc

842,271

62,984

Haleon

plc

261,076

4,316

Halma

plc

101,689

4,044

Hargreaves

Lansdown

plc

38,034

1,884

Hikma

Pharmaceuticals

plc

47,841

224,707

HSBC

Holdings

plc

1,758,430

9,814

Imperial

Brands

plc

199,092

15,910

Informa

plc

145,283

1,913

InterContinental

Hotels

Group

plc

141,476

1,835

Intertek

Group

plc

91,767

18,955

J

Sainsbury

plc

58,373

29,459

JD

Sports

Fashion

plc

53,513

2,085

Johnson

Matthey

plc

41,278

21,654

Kingfisher

plc

58,783

8,008

Land

Securities

Group

plc

57,402

67,952

Legal

&

General

Group

plc

183,359

732,079

Lloyds

TSB

Group

plc

393,418

4,826

London

Stock

Exchange

Group

plc

483,693

25,495

M&G

plc

61,084

15,363

Melrose

Industries

plc

87,576

5,519

Mondi

plc

92,068

41,855

National

Grid

plc

500,562

66,070

NatWest

Group

plc

188,998

1,369

Next

plc

121,420

International

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

165

Shares

Common

Stock

(97.7%)

Value

United

Kingdom

(14.0%)

-

continued

6,583

Ocado

Group

plc

a

$

47,865

7,327

Pearson

plc

77,306

3,631

Persimmon

plc

47,554

8,535

Phoenix

Group

Holdings

plc

50,020

31,297

Prudential

plc

336,424

8,156

Reckitt

Benckiser

Group

plc

575,171

21,526

RELX

plc

726,290

28,646

Rentokil

Initial

plc

212,687

12,798

Rio

Tinto

plc

803,623

95,676

Rolls-Royce

Holdings

plc

a

256,354

11,652

Sage

Group

plc

140,220

9,163

Schroders

plc

45,277

13,225

SEGRO

plc

115,640

2,868

Severn

Trent

plc

82,758

76,211

Shell

plc

2,415,463

9,928

Smith

&

Nephew

plc

123,213

3,976

Smiths

Group

plc

78,280

839

Spirax-Sarco

Engineering

plc

97,118

12,394

SSE

plc

242,878

6,236

St.

James's

Place

plc

62,915

26,962

Standard

Chartered

plc

247,986

40,152

Taylor

Wimpey

plc

57,264

81,487

Tesco

plc

262,103

28,589

Unilever

plc

1,414,215

7,751

United

Utilities

Group

plc

89,563

261,394

Vodafone

Group

plc

245,032

2,250

Whitbread

plc

94,710

6,989

Wise

plc

a

58,284

Total

23,956,703

Total

Common

Stock

(cost

$144,670,506)

166,549,231

Shares

Preferred

Stock

(

0

.3

%

)

Germany

(0.3%)

657

Bayerische

Motoren

Werke

AG

61,154

1,920

Henkel

AG

&

Company

KGaA

136,722

2,344

Volkswagen

AG

269,324

Total

467,200

Total

Preferred

Stock

(cost

$543,225)

467,200

Shares

Collateral

Held

for

Securities

Loaned

(

<0.1%

)

53,850

Thrivent

Cash

Management

Trust

53,850

Total

Collateral

Held

for

Securities

Loaned

(cost

$53,850)

53,850

Shares

or

Principal

Amount

Short-Term

Investments

(

1

.5

%

)

Federal

Home

Loan

Bank

Discount

Notes

300,000

5.284%,

 11/15/2023

e,f

298,124

Shares

or

Principal

Amount

Short-Term

Investments

(1.5%)

Value

Thrivent

Core

Short-Term

Reserve

Fund

220,530

5.650%

$

2,205,300

Total

Short-Term

Investments

(cost

$2,503,274)

2,503,424

Total

Investments

(cost

$147,770,855)

99.5%

$

169,573,705

Other

Assets

and

Liabilities,

Net

0.5%

922,414

Total

Net

Assets

100.0%

$

170,496,119

a

Non-income

producing

security.

b

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$2,182,818

or

1.3%

of

total

net

assets.

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

All

or

a

portion

of

the

security

is

on

loan.

e

The

interest

rate

shown

reflects

the

yield.

f

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

International

Index

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Common

Stock

$

51,189

Total

lending

$51,189

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$53,850

Net

amounts

due

to

counterparty

$2,661

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

International

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

166

Reference

Description:

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

International

Index

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

6,922,614

182,305

6,740,309

–

Consumer

Discretionary

19,807,884

39,740

19,768,144

–

Consumer

Staples

16,206,786

146,641

16,060,145

–

Energy

7,975,069

–

7,975,069

–

Financials

31,868,486

36,478

31,832,008

–

Health

Care

22,373,636

129,907

22,238,375

5,354

Industrials

26,557,627

199,980

26,357,647

–

Information

Technology

12,928,604

315,569

12,613,035

–

Materials

12,430,367

–

12,001,525

428,842

Real

Estate

3,874,657

–

3,874,657

–

Utilities

5,603,501

–

5,603,501

–

Preferred

Stock

Consumer

Discretionary

330,478

–

330,478

–

Consumer

Staples

136,722

–

136,722

–

Short-Term

Investments

298,124

–

298,124

–

Subtotal

Investments

in

Securities

$

167,314,555

$

1,050,620

$

165,829,739

$

434,196

Other

Investments  *

Total

Affiliated

Short-Term

Investments

2,205,300

Collateral

Held

for

Securities

Loaned

53,850

Subtotal

Other

Investments

$

2,259,150

Total

Investments

at

Value

$

169,573,705

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

International

Index

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Liability

Derivatives

Futures

Contracts

66,259

66,259

–

–

Total

Liability

Derivatives

$

66,259

$

66,259

$

–

$

–

The

following

table

presents

International

Index

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$298,124

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

ICE

mini

MSCI

EAFE

Index

28

December

2023

$

2,924,359

(

$

66,259

)

Total

Futures

Long

Contracts

$

2,924,359

(

$

66,259

)

Total

Futures

Contracts

$

2,924,359

(

$

66,259

)

International

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

167

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

International

Index

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$

2,215

$

13,271

$

13,281

$

2,205

221

1.3%

Total

Affiliated

Short-Term

Investments

2,215

2,205

1.3

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

15

2,089

2,050

54

54

<0.1

Total

Collateral

Held

for

Securities

Loaned

15

54

<0.1

Total

Value

$

2,230

$

2,259

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$

183

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$

183

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

6

Total

Affiliated

Income

from

Securities

Loaned,

Net

$

6

Total

Value

$–

$–

$

–

Large

Cap

Growth

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

168

Shares

Common

Stock

(

98

.0

%

)

Value

Communications

Services

(11.6%)

1,166,353

Alphabet,

Inc.,

Class

C

a

$

153,783,643

248,145

Meta

Platforms,

Inc.

a

74,495,610

71,093

Netflix,

Inc.

a

26,844,717

Total

255,123,970

Consumer

Discretionary

(14.8%)

1,194,235

Amazon.com,

Inc.

a

151,811,153

69,307

Domino's

Pizza,

Inc.

26,252,799

174,833

Home

Depot,

Inc.

52,827,539

33,929

O'Reilly

Automotive,

Inc.

a

30,836,711

251,175

Tesla,

Inc.

a

62,849,009

Total

324,577,211

Consumer

Staples

(3.3%)

281,842

BJ's

Wholesale

Club

Holdings,

Inc.

a

20,115,064

427,650

US

Foods

Holding

Corporation

a

16,977,705

217,850

Walmart,

Inc.

34,840,750

Total

71,933,519

Energy

(2.3%)

629,948

Halliburton

Company

25,512,894

114,785

Pioneer

Natural

Resources

Company

26,348,897

Total

51,861,791

Financials

(11.1%)

162,930

American

Express

Company

24,307,527

71,285

Ameriprise

Financial,

Inc.

23,501,239

56,482

FactSet

Research

Systems,

Inc.

24,697,319

231,795

Intercontinental

Exchange,

Inc.

25,502,086

180,366

J.P.

Morgan

Chase

&

Company

26,156,677

168,478

Mastercard,

Inc.

66,702,125

562,597

PayPal

Holdings,

Inc.

a

32,889,420

213,855

Raymond

James

Financial,

Inc.

21,477,458

Total

245,233,851

Health

Care

(13.4%)

106,993

Amgen,

Inc.

28,755,439

165,645

Danaher

Corporation

41,096,524

104,657

Intuitive

Surgical,

Inc.

a

30,590,195

106,813

Laboratory

Corporation

of

America

Holdings

21,474,754

305,632

Medtronic

plc

23,949,323

82,319

Molina

Healthcare,

Inc.

a

26,991,577

292,612

Novo

Nordisk

AS

ADR

a

26,610,135

122,840

UnitedHealth

Group,

Inc.

61,934,700

191,875

Zoetis,

Inc.

33,382,412

Total

294,785,059

Industrials

(5.3%)

530,299

Fastenal

Company

28,975,537

63,027

Northrop

Grumman

Corporation

27,743,855

54,599

Parker-Hannifin

Corporation

21,267,403

832,378

Uber

Technologies,

Inc.

a

38,281,064

Total

116,267,859

Information

Technology

(33.8%)

81,003

Adobe,

Inc.

a

41,303,430

401,421

Advanced

Micro

Devices,

Inc.

a

41,274,107

492,534

Apple,

Inc.

84,326,746

162,489

Applied

Materials,

Inc.

22,496,602

681,913

Cisco

Systems,

Inc.

36,659,643

289,242

Fortinet,

Inc.

a

16,972,721

Shares

Common

Stock

(98.0%)

Value

Information

Technology

(33.8%)

-

continued

685,958

Microsoft

Corporation

$

216,591,238

281,190

NVIDIA

Corporation

122,314,838

350,623

QUALCOMM,

Inc.

38,940,190

203,835

Salesforce,

Inc.

a

41,333,661

100,905

ServiceNow,

Inc.

a

56,401,859

63,218

Tyler

Technologies,

Inc.

a

24,410,999

Total

743,026,034

Materials

(1.2%)

164,648

Nucor

Corporation

25,742,715

Total

25,742,715

Real

Estate

(1.2%)

128,133

SBA

Communications

Corporation

25,648,383

Total

25,648,383

Total

Common

Stock

(cost

$1,455,386,788)

2,154,200,392

Shares

Short-Term

Investments

(

2

.0

%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

4,394,549

5.650%

43,945,487

Total

Short-Term

Investments

(cost

$43,945,487)

43,945,487

Total

Investments

(cost

$1,499,332,275)

100.0%

$

2,198,145,879

Other

Assets

and

Liabilities,

Net

(<0.1%)

(

185,459

)

Total

Net

Assets

100.0%

$

2,197,960,420

a

Non-income

producing

security.

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

plc

-

Public

Limited

Company

Large

Cap

Growth

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

169

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Large

Cap

Growth

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

255,123,970

255,123,970

–

–

Consumer

Discretionary

324,577,211

324,577,211

–

–

Consumer

Staples

71,933,519

71,933,519

–

–

Energy

51,861,791

51,861,791

–

–

Financials

245,233,851

245,233,851

–

–

Health

Care

294,785,059

294,785,059

–

–

Industrials

116,267,859

116,267,859

–

–

Information

Technology

743,026,034

743,026,034

–

–

Materials

25,742,715

25,742,715

–

–

Real

Estate

25,648,383

25,648,383

–

–

Subtotal

Investments

in

Securities

$

2,154,200,392

$

2,154,200,392

$

–

$

–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

43,945,487

Subtotal

Other

Investments

$

43,945,487

Total

Investments

at

Value

$

2,198,145,879

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Large

Cap

Growth

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$

52,095

$

155,976

$

164,126

$

43,945

4,395

2.0%

Total

Affiliated

Short-Term

Investments

52,095

43,945

2.0

Total

Value

$

52,095

$

43,945

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$

1,881

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$

1,881

Total

Value

$–

$–

$

–

Large

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

170

Shares

Common

Stock

(

99

.3

%

)

Value

Communications

Services

(8.8%)

30,071

Activision

Blizzard,

Inc.

$

2,815,548

249,389

Alphabet,

Inc.,

Class

A

a

32,635,044

212,141

Alphabet,

Inc.,

Class

C

a

27,970,791

300,502

AT&T,

Inc.

4,513,540

4,278

Charter

Communications,

Inc.

a

1,881,550

172,999

Comcast

Corporation

7,670,776

10,363

Electronic

Arts,

Inc.

1,247,705

10,663

Fox

Corporation,

Class

A

332,686

5,545

Fox

Corporation,

Class

B

160,140

16,180

Interpublic

Group

of

Companies,

Inc.

463,719

5,960

Live

Nation

Entertainment,

Inc.

a

494,918

11,689

Match

Group,

Inc.

a

457,917

93,424

Meta

Platforms,

Inc.

a

28,046,819

18,627

Netflix,

Inc.

a

7,033,555

16,013

News

Corporation,

Class

A

321,221

4,855

News

Corporation,

Class

B

101,324

8,305

Omnicom

Group,

Inc.

618,556

20,270

Paramount

Global

b

261,483

6,639

Take-Two

Interactive

Software,

Inc.

a

932,049

21,759

T-Mobile

US,

Inc.

a

3,047,348

176,713

Verizon

Communications,

Inc.

5,727,268

76,913

Walt

Disney

Company

a

6,233,799

93,233

Warner

Brothers

Discovery,

Inc.

a

1,012,510

Total

133,980,266

Consumer

Discretionary

(10.6%)

17,922

Airbnb,

Inc.

a

2,459,078

381,654

Amazon.com,

Inc.

a

48,515,856

11,888

Aptiv

plc

a

1,172,038

763

AutoZone,

Inc.

a

1,938,012

9,622

Bath

&

Body

Works,

Inc.

325,224

8,163

Best

Buy

Company,

Inc.

567,084

1,500

Booking

Holdings,

Inc.

a

4,625,925

9,881

BorgWarner,

Inc.

398,896

9,050

Caesars

Entertainment,

Inc.

a

419,467

6,650

CarMax,

Inc.

a

470,355

42,343

Carnival

Corporation

a

580,946

1,160

Chipotle

Mexican

Grill,

Inc.

a

2,124,923

12,798

D.R.

Horton,

Inc.

1,375,401

5,081

Darden

Restaurants,

Inc.

727,701

1,475

Domino's

Pizza,

Inc.

558,715

22,369

eBay,

Inc.

986,249

5,171

Etsy,

Inc.

a

333,943

5,794

Expedia

Group,

Inc.

a

597,188

165,252

Ford

Motor

Company

2,052,430

6,438

Garmin,

Ltd.

677,278

57,835

General

Motors

Company

1,906,820

5,903

Genuine

Parts

Company

852,275

5,482

Hasbro,

Inc.

362,579

10,993

Hilton

Worldwide

Holdings,

Inc.

1,650,929

42,260

Home

Depot,

Inc.

12,769,282

13,817

Las

Vegas

Sands

Corporation

633,371

10,615

Lennar

Corporation

1,191,321

11,246

LKQ

Corporation

556,789

24,631

Lowe's

Companies,

Inc.

5,119,307

10,530

Marriott

International,

Inc./MD

2,069,777

30,633

McDonald's

Corporation

8,069,958

11,799

MGM

Resorts

International

433,731

2,222

Mohawk

Industries,

Inc.

a

190,670

51,495

NIKE,

Inc.

4,923,952

17,882

Norwegian

Cruise

Line

Holdings,

Ltd.

a

294,695

137

NVR,

Inc.

a

816,972

Shares

Common

Stock

(99.3%)

Value

Consumer

Discretionary

(10.6%)

-

continued

2,539

O'Reilly

Automotive,

Inc.

a

$

2,307,596

1,642

Pool

Corporation

584,716

9,224

PulteGroup,

Inc.

683,037

1,698

Ralph

Lauren

Corporation

197,121

14,319

Ross

Stores,

Inc.

1,617,331

9,907

Royal

Caribbean

Cruises,

Ltd.

a

912,831

48,146

Starbucks

Corporation

4,394,285

9,743

Tapestry,

Inc.

280,111

116,072

Tesla,

Inc.

a

29,043,536

48,307

TJX

Companies,

Inc.

4,293,526

4,574

Tractor

Supply

Company

928,751

2,093

Ulta

Beauty,

Inc.

a

836,049

13,894

VF

Corporation

245,507

2,304

Whirlpool

Corporation

308,045

4,071

Wynn

Resorts,

Ltd.

376,201

11,778

Yum!

Brands,

Inc.

1,471,543

Total

161,229,323

Consumer

Staples

(6.5%)

74,594

Altria

Group,

Inc.

3,136,678

22,535

Archer-Daniels-Midland

Company

1,699,590

7,691

Brown-Forman

Corporation

443,694

6,332

Bunge,

Ltd.

685,439

8,270

Campbell

Soup

Company

339,732

10,342

Church

&

Dwight

Company,

Inc.

947,637

5,205

Clorox

Company

682,167

163,593

Coca-Cola

Company

9,157,936

34,749

Colgate-Palmolive

Company

2,471,001

20,087

Conagra

Brands,

Inc.

550,786

6,780

Constellation

Brands,

Inc.

1,704,017

18,627

Costco

Wholesale

Corporation

10,523,510

9,220

Dollar

General

Corporation

975,476

8,801

Dollar

Tree,

Inc.

a

936,866

9,747

Estee

Lauder

Companies,

Inc.

1,408,929

24,598

General

Mills,

Inc.

1,574,026

6,299

Hershey

Company

1,260,304

12,170

Hormel

Foods

Corporation

462,825

4,292

J.M.

Smucker

Company

527,530

11,081

Kellanova

659,430

72,442

Kenvue,

Inc.

1,454,635

42,287

Keurig

Dr.

Pepper,

Inc.

1,335,001

14,215

Kimberly-Clark

Corporation

1,717,883

33,560

Kraft

Heinz

Company

1,128,958

27,756

Kroger

Company

1,242,081

6,128

Lamb

Weston

Holdings,

Inc.

566,595

10,555

McCormick

&

Company,

Inc.

798,380

7,802

Molson

Coors

Beverage

Company

496,129

57,184

Mondelez

International,

Inc.

3,968,570

31,262

Monster

Beverage

Corporation

a

1,655,323

57,863

PepsiCo,

Inc.

9,804,307

65,252

Philip

Morris

International,

Inc.

6,041,030

99,087

Procter

&

Gamble

Company

14,452,830

21,232

Sysco

Corporation

1,402,374

19,401

Target

Corporation

2,145,169

12,003

Tyson

Foods,

Inc.

606,031

30,118

Walgreens

Boots

Alliance,

Inc.

669,824

59,991

Walmart,

Inc.

9,594,361

Total

99,227,054

Energy

(4.7%)

12,916

APA

Corporation

530,848

42,440

Baker

Hughes

Company

1,498,981

74,580

Chevron

Corporation

12,575,680

50,336

ConocoPhillips

6,030,253

31,839

Coterra

Energy,

Inc.

861,245

Large

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

171

Shares

Common

Stock

(99.3%)

Value

Energy

(4.7%)

-

continued

26,931

Devon

Energy

Corporation

$

1,284,609

7,516

Diamondback

Energy,

Inc.

1,164,078

24,475

EOG

Resources,

Inc.

3,102,451

15,202

EQT

Corporation

616,897

168,271

Exxon

Mobil

Corporation

19,785,304

37,770

Halliburton

Company

1,529,685

11,616

Hess

Corporation

1,777,248

81,483

Kinder

Morgan,

Inc.

1,350,988

25,460

Marathon

Oil

Corporation

681,055

16,807

Marathon

Petroleum

Corporation

2,543,571

27,890

Occidental

Petroleum

Corporation

1,809,503

24,484

ONEOK,

Inc.

1,553,020

18,717

Phillips

66

2,248,848

9,800

Pioneer

Natural

Resources

Company

2,249,590

59,738

Schlumberger,

Ltd.

3,482,725

9,404

Targa

Resources

Corporation

806,111

14,844

Valero

Energy

Corporation

2,103,543

51,131

Williams

Companies,

Inc.

1,722,603

Total

71,308,836

Financials

(12.7%)

22,724

Aflac,

Inc.

1,744,067

10,995

Allstate

Corporation

1,224,953

24,456

American

Express

Company

3,648,591

29,924

American

International

Group,

Inc.

1,813,394

4,314

Ameriprise

Financial,

Inc.

1,422,240

8,527

Aon

plc

2,764,624

15,677

Arch

Capital

Group,

Ltd.

a

1,249,614

9,059

Arthur

J.

Gallagher

&

Company

2,064,818

2,229

Assurant,

Inc.

320,040

290,597

Bank

of

America

Corporation

7,956,546

32,735

Bank

of

New

York

Mellon

Corporation

1,396,148

76,657

Berkshire

Hathaway,

Inc.

a

26,852,947

5,899

BlackRock,

Inc.

3,813,644

29,834

Blackstone,

Inc.

3,196,415

9,895

Brown

&

Brown,

Inc.

691,067

16,034

Capital

One

Financial

Corporation

1,556,100

4,435

Cboe

Global

Markets,

Inc.

692,791

62,504

Charles

Schwab

Corporation

3,431,470

17,265

Chubb,

Ltd.

3,594,228

6,593

Cincinnati

Financial

Corporation

674,398

80,945

Citigroup,

Inc.

3,329,268

19,852

Citizens

Financial

Group,

Inc.

532,034

15,122

CME

Group,

Inc.

3,027,727

5,539

Comerica,

Inc.

230,145

10,506

Discover

Financial

Services

910,135

1,824

Everest

Group,

Ltd.

677,926

1,603

FactSet

Research

Systems,

Inc.

700,928

24,904

Fidelity

National

Information

Services,

Inc.

1,376,444

28,621

Fifth

Third

Bancorp

724,970

25,625

Fiserv,

Inc.

a

2,894,600

3,109

FleetCor

Technologies,

Inc.

a

793,852

11,955

Franklin

Resources,

Inc.

293,854

3,655

Global

Life,

Inc.

397,408

10,929

Global

Payments,

Inc.

1,261,097

13,857

Goldman

Sachs

Group,

Inc.

4,483,709

12,855

Hartford

Financial

Services

Group,

Inc.

911,548

60,860

Huntington

Bancshares,

Inc.

632,944

24,058

Intercontinental

Exchange,

Inc.

2,646,861

18,857

Invesco,

Ltd.

273,804

122,155

J.P.

Morgan

Chase

&

Company

17,714,918

Shares

Common

Stock

(99.3%)

Value

Financials

(12.7%)

-

continued

3,063

Jack

Henry

&

Associates,

Inc.

$

462,942

39,341

KeyCorp

423,309

7,773

Loews

Corporation

492,109

6,973

M&T

Bank

Corporation

881,736

1,584

MarketAxess

Holdings,

Inc.

338,406

20,763

Marsh

&

McLennan

Companies,

Inc.

3,951,199

34,973

Mastercard,

Inc.

13,846,160

26,553

MetLife,

Inc.

1,670,449

6,633

Moody's

Corporation

2,097,156

53,630

Morgan

Stanley

4,379,962

3,324

MSCI,

Inc.

1,705,478

14,250

Nasdaq,

Inc.

692,407

8,701

Northern

Trust

Corporation

604,545

46,155

PayPal

Holdings,

Inc.

a

2,698,221

16,740

PNC

Financial

Services

Group,

Inc.

2,055,170

9,347

Principal

Financial

Group,

Inc.

673,638

24,604

Progressive

Corporation

3,427,337

15,258

Prudential

Financial,

Inc.

1,447,832

7,901

Raymond

James

Financial,

Inc.

793,497

39,444

Regions

Financial

Corporation

678,437

13,678

S&P

Global,

Inc.

4,998,078

13,394

State

Street

Corporation

896,862

17,578

Synchrony

Financial

537,359

9,428

T.

Rowe

Price

Group,

Inc.

988,714

9,623

Travelers

Companies,

Inc.

1,571,532

55,988

Truist

Financial

Corporation

1,601,817

65,446

U.S.

Bancorp

2,163,645

67,540

Visa,

Inc.

15,534,875

8,552

W.R.

Berkley

Corporation

542,966

153,794

Wells

Fargo

&

Company

6,284,023

4,406

Willis

Towers

Watson

plc

920,678

6,227

Zions

Bancorp

NA

217,260

Total

193,500,066

Health

Care

(13.3%)

72,944

Abbott

Laboratories

7,064,626

74,192

AbbVie,

Inc.

11,059,060

12,416

Agilent

Technologies,

Inc.

1,388,357

2,992

Align

Technology,

Inc.

a

913,517

22,484

Amgen,

Inc.

6,042,800

21,286

Baxter

International,

Inc.

803,334

12,194

Becton,

Dickinson

and

Company

3,152,515

6,088

Biogen,

Inc.

a

1,564,677

878

Bio-Rad

Laboratories,

Inc.

a

314,719

6,618

Bio-Techne

Corporation

450,487

61,547

Boston

Scientific

Corporation

a

3,249,682

87,814

Bristol-Myers

Squibb

Company

5,096,725

10,702

Cardinal

Health,

Inc.

929,148

7,578

Catalent,

Inc.

a

345,026

7,007

Cencora,

Inc.

1,261,050

22,761

Centene

Corporation

a

1,567,778

2,155

Charles

River

Laboratories

International,

Inc.

a

422,337

12,441

Cigna

Group

3,558,997

2,081

Cooper

Companies,

Inc.

661,779

53,989

CVS

Health

Corporation

3,769,512

27,622

Danaher

Corporation

6,853,018

2,264

DaVita,

Inc.

a

214,016

8,899

Dentsply

Sirona,

Inc.

303,990

16,304

Dexcom,

Inc.

a

1,521,163

25,553

Edwards

Lifesciences

Corporation

a

1,770,312

9,905

Elevance

Health,

Inc.

4,312,835

33,518

Eli

Lilly

&

Company

18,003,523

Large

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

172

Shares

Common

Stock

(99.3%)

Value

Health

Care

(13.3%)

-

continued

16,442

GE

HealthCare

Technologies,

Inc.

$

1,118,714

52,375

Gilead

Sciences,

Inc.

3,924,982

8,460

HCA

Healthcare,

Inc.

2,080,991

5,489

Henry

Schein,

Inc.

a

407,558

10,296

Hologic,

Inc.

a

714,542

5,208

Humana,

Inc.

2,533,796

3,489

IDEXX

Laboratories,

Inc.

a

1,525,635

6,654

Illumina,

Inc.

a

913,461

7,818

Incyte

Corporation

a

451,646

2,935

Insulet

Corporation

a

468,103

14,769

Intuitive

Surgical,

Inc.

a

4,316,831

7,697

IQVIA

Holding,

Inc.

a

1,514,385

101,219

Johnson

&

Johnson

15,764,859

3,724

Laboratory

Corporation

of

America

Holdings

748,710

5,670

McKesson

Corporation

2,465,600

55,954

Medtronic

plc

4,384,555

106,663

Merck

&

Company,

Inc.

10,980,956

919

Mettler-Toledo

International,

Inc.

a

1,018,316

13,918

Moderna,

Inc.

a

1,437,590

2,451

Molina

Healthcare,

Inc.

a

803,658

10,743

Organon

&

Company

186,498

237,323

Pfizer,

Inc.

7,872,004

4,718

Quest

Diagnostics,

Inc.

574,935

4,487

Regeneron

Pharmaceuticals,

Inc.

a

3,692,622

6,176

ResMed,

Inc.

913,245

5,218

Revvity,

Inc.

577,633

4,147

STERIS

plc

909,935

14,208

Stryker

Corporation

3,882,620

1,975

Teleflex,

Inc.

387,910

16,223

Thermo

Fisher

Scientific,

Inc.

8,211,596

38,936

UnitedHealth

Group,

Inc.

19,631,142

2,612

Universal

Health

Services,

Inc.

328,407

10,849

Vertex

Pharmaceuticals,

Inc.

a

3,772,631

50,421

Viatris,

Inc.

497,151

2,484

Waters

Corporation

a

681,138

3,105

West

Pharmaceutical

Services,

Inc.

1,165,027

8,784

Zimmer

Biomet

Holdings,

Inc.

985,740

19,349

Zoetis,

Inc.

3,366,339

Total

201,806,444

Industrials

(8.2%)

23,203

3M

Company

2,172,265

5,237

A.O.

Smith

Corporation

346,323

5,348

Alaska

Air

Group,

Inc.

a

198,304

3,690

Allegion

plc

384,498

27,464

American

Airlines

Group,

Inc.

a

351,814

9,698

AMETEK,

Inc.

1,432,976

17,318

Automatic

Data

Processing,

Inc.

4,166,364

2,954

Axon

Enterprise,

Inc.

a

587,816

23,834

Boeing

Company

a

4,568,501

4,965

Broadridge

Financial

Solutions,

Inc.

888,983

4,894

C.H.

Robinson

Worldwide,

Inc.

421,520

35,209

Carrier

Global

Corporation

1,943,537

21,443

Caterpillar,

Inc.

5,853,939

6,541

Ceridian

HCM

Holding,

Inc.

a

443,807

3,635

Cintas

Corporation

1,748,471

36,525

Copart,

Inc.

a

1,573,862

84,334

CSX

Corporation

2,593,270

5,954

Cummins,

Inc.

1,360,251

11,461

Deere

&

Company

4,325,152

27,046

Delta

Air

Lines,

Inc.

1,000,702

5,879

Dover

Corporation

820,179

Shares

Common

Stock

(99.3%)

Value

Industrials

(8.2%)

-

continued

16,772

Eaton

Corporation

plc

$

3,577,132

24,023

Emerson

Electric

Company

2,319,901

5,158

Equifax,

Inc.

944,842

6,217

Expeditors

International

of

Washington,

Inc.

712,655

24,015

Fastenal

Company

1,312,180

9,726

FedEx

Corporation

2,576,612

14,797

Fortive

Corporation

1,097,346

2,616

Generac

Holdings,

Inc.

a

285,039

9,526

General

Dynamics

Corporation

2,104,960

45,749

General

Electric

Company

5,057,552

27,909

Honeywell

International,

Inc.

5,155,909

16,460

Howmet

Aerospace,

Inc.

761,275

1,676

Huntington

Ingalls

Industries,

Inc.

342,876

3,178

IDEX

Corporation

661,088

11,567

Illinois

Tool

Works,

Inc.

2,663,996

16,999

Ingersoll

Rand,

Inc.

1,083,176

5,293

Jacobs

Solutions,

Inc.

722,494

3,432

JB

Hunt

Transport

Services,

Inc.

647,001

28,597

Johnson

Controls

International

plc

1,521,646

7,950

L3Harris

Technologies,

Inc.

1,384,254

5,773

Leidos

Holdings,

Inc.

532,040

9,421

Lockheed

Martin

Corporation

3,852,812

9,455

Masco

Corporation

505,370

2,276

Nordson

Corporation

507,935

9,542

Norfolk

Southern

Corporation

1,879,106

5,978

Northrop

Grumman

Corporation

2,631,456

3,766

Old

Dominion

Freight

Line,

Inc.

1,540,821

17,307

Otis

Worldwide

Corporation

1,389,925

21,976

PACCAR,

Inc.

1,868,400

5,393

Parker-Hannifin

Corporation

2,100,681

13,488

Paychex,

Inc.

1,555,571

2,070

Paycom

Software,

Inc.

536,689

6,940

Pentair

plc

449,365

6,103

Quanta

Services,

Inc.

1,141,688

8,643

Republic

Services,

Inc.

1,231,714

4,501

Robert

Half,

Inc.

329,833

4,828

Rockwell

Automation,

Inc.

1,380,180

11,802

Rollins,

Inc.

440,569

61,181

RTX

Corporation

4,403,197

2,224

Snap-On,

Inc.

567,253

25,037

Southwest

Airlines

Company

677,752

6,441

Stanley

Black

&

Decker,

Inc.

538,339

8,326

Textron,

Inc.

650,594

9,601

Trane

Technologies

plc

1,948,139

2,320

TransDigm

Group,

Inc.

a

1,956,062

25,618

Union

Pacific

Corporation

5,216,593

13,786

United

Airlines

Holdings,

Inc.

a

583,148

30,402

United

Parcel

Service,

Inc.

4,738,760

2,870

United

Rentals,

Inc.

1,275,916

6,096

Verisk

Analytics,

Inc.

1,440,119

1,871

W.W.

Grainger,

Inc.

1,294,433

7,530

Wabtec

Corporation

800,213

15,494

Waste

Management,

Inc.

2,361,905

10,123

Xylem,

Inc.

921,497

Total

125,362,543

Information

Technology

(27.3%)

26,515

Accenture

plc

8,143,022

19,159

Adobe,

Inc.

a

9,769,174

67,913

Advanced

Micro

Devices,

Inc.

a

6,982,815

6,389

Akamai

Technologies,

Inc.

a

680,684

25,071

Amphenol

Corporation

2,105,713

21,077

Analog

Devices,

Inc.

3,690,372

3,648

ANSYS,

Inc.

a

1,085,462

Large

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

173

Shares

Common

Stock

(99.3%)

Value

Information

Technology

(27.3%)

-

continued

617,741

Apple,

Inc.

$

105,763,437

35,298

Applied

Materials,

Inc.

4,887,008

10,541

Arista

Networks,

Inc.

a

1,938,806

8,984

Autodesk,

Inc.

a

1,858,879

17,347

Broadcom,

Inc.

14,408,071

11,424

Cadence

Design

Systems,

Inc.

a

2,676,643

5,635

CDW

Corporation

1,136,918

171,292

Cisco

Systems,

Inc.

9,208,658

21,229

Cognizant

Technology

Solutions

Corporation

1,438,052

32,269

Corning,

Inc.

983,236

8,624

DXC

Technology

Company

a

179,638

5,732

Enphase

Energy,

Inc.

a

688,700

2,436

EPAM

Systems,

Inc.

a

622,861

2,493

F5,

Inc.

a

401,722

1,045

Fair

Isaac

Corporation

a

907,614

4,491

First

Solar,

Inc.

a

725,701

27,399

Fortinet,

Inc.

a

1,607,773

3,313

Gartner,

Inc.

a

1,138,380

24,459

Gen

Digital,

Inc.

432,435

54,288

Hewlett

Packard

Enterprise

Company

942,983

36,471

HP,

Inc.

937,305

176,039

Intel

Corporation

6,258,186

38,293

International

Business

Machines

Corporation

5,372,508

11,772

Intuit,

Inc.

6,014,786

13,508

Juniper

Networks,

Inc.

375,387

7,498

Keysight

Technologies,

Inc.

a

992,060

5,747

KLA

Corporation

2,635,919

5,603

Lam

Research

Corporation

3,511,792

22,881

Microchip

Technology,

Inc.

1,785,862

46,040

Micron

Technology,

Inc.

3,132,101

312,304

Microsoft

Corporation

98,609,988

2,008

Monolithic

Power

Systems,

Inc.

927,696

7,021

Motorola

Solutions,

Inc.

1,911,397

8,861

NetApp,

Inc.

672,373

103,824

NVIDIA

Corporation

45,162,402

10,836

NXP

Semiconductors

NV

2,166,333

18,139

ON

Semiconductor

Corporation

a

1,686,020

66,173

Oracle

Corporation

7,009,044

12,856

Palo

Alto

Networks,

Inc.

a

3,013,961

4,995

PTC,

Inc.

a

707,692

4,116

Qorvo,

Inc.

a

392,954

46,910

QUALCOMM,

Inc.

5,209,825

4,486

Roper

Industries,

Inc.

2,172,480

40,941

Salesforce,

Inc.

a

8,302,016

8,107

Seagate

Technology

Holdings

plc

534,657

8,575

ServiceNow,

Inc.

a

4,793,082

6,700

Skyworks

Solutions,

Inc.

660,553

2,377

SolarEdge

Technologies,

Inc.

a

307,845

6,396

Synopsys,

Inc.

a

2,935,572

13,196

TE

Connectivity,

Ltd.

1,630,102

1,979

Teledyne

Technologies,

Inc.

a

808,580

6,474

Teradyne,

Inc.

650,378

38,166

Texas

Instruments,

Inc.

6,068,776

10,438

Trimble,

Inc.

a

562,191

1,769

Tyler

Technologies,

Inc.

a

683,082

3,772

VeriSign,

Inc.

a

763,943

13,448

Western

Digital

Corporation

a

613,632

2,158

Zebra

Technologies

Corporation

a

510,432

Total

414,887,669

Materials

(2.4%)

9,338

Air

Products

and

Chemicals,

Inc.

2,646,389

Shares

Common

Stock

(99.3%)

Value

Materials

(2.4%)

-

continued

4,933

Albemarle

Corporation

$

838,807

61,851

Amcor

plc

566,555

3,387

Avery

Dennison

Corporation

618,703

13,243

Ball

Corporation

659,237

4,207

Celanese

Corporation

528,063

8,110

CF

Industries

Holdings,

Inc.

695,351

29,834

Corteva,

Inc.

1,526,307

29,553

Dow,

Inc.

1,523,753

19,296

DuPont

de

Nemours,

Inc.

1,439,289

4,983

Eastman

Chemical

Company

382,296

10,663

Ecolab,

Inc.

1,806,312

5,243

FMC

Corporation

351,124

60,262

Freeport-McMoRan,

Inc.

2,247,170

10,729

International

Flavors

&

Fragrances,

Inc.

731,396

14,544

International

Paper

Company

515,876

20,510

Linde

plc

7,636,898

10,766

LyondellBasell

Industries

NV

1,019,540

2,598

Martin

Marietta

Materials,

Inc.

1,066,427

13,967

Mosaic

Company

497,225

33,406

Newmont

Corporation

1,234,352

10,455

Nucor

Corporation

1,634,639

3,780

Packaging

Corporation

of

America

580,419

9,900

PPG

Industries,

Inc.

1,285,020

6,069

Sealed

Air

Corporation

199,427

9,944

Sherwin-Williams

Company

2,536,217

6,545

Steel

Dynamics,

Inc.

701,755

5,585

Vulcan

Materials

Company

1,128,282

10,772

WestRock

Company

385,638

Total

36,982,467

Real

Estate

(2.4%)

6,546

Alexandria

Real

Estate

Equities,

Inc.

655,255

19,594

American

Tower

Corporation

3,222,233

5,970

AvalonBay

Communities,

Inc.

1,025,288

6,066

Boston

Properties,

Inc.

360,806

4,488

Camden

Property

Trust

424,475

13,024

CBRE

Group,

Inc.

a

961,953

17,164

CoStar

Group,

Inc.

a

1,319,740

18,229

Crown

Castle,

Inc.

1,677,615

12,724

Digital

Realty

Trust,

Inc.

1,539,858

3,933

Equinix,

Inc.

2,856,380

14,498

Equity

Residential

851,178

2,698

Essex

Property

Trust,

Inc.

572,219

8,881

Extra

Space

Storage,

Inc.

1,079,752

3,084

Federal

Realty

Investment

Trust

279,503

22,995

Healthpeak

Properties,

Inc.

422,188

29,912

Host

Hotels

&

Resorts,

Inc.

480,686

24,180

Invitation

Homes,

Inc.

766,264

12,268

Iron

Mountain,

Inc.

729,333

26,056

Kimco

Realty

Corporation

458,325

4,904

Mid-America

Apartment

Communities,

Inc.

630,900

38,834

Prologis,

Inc.

4,357,563

6,652

Public

Storage

1,752,935

29,793

Realty

Income

Corporation

1,487,862

6,907

Regency

Centers

Corporation

410,552

4,556

SBA

Communications

Corporation

911,974

13,753

Simon

Property

Group,

Inc.

1,485,737

12,741

UDR,

Inc.

454,471

16,914

Ventas,

Inc.

712,587

42,599

VICI

Properties,

Inc.

1,239,631

21,804

Welltower,

Inc.

1,786,184

Large

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

174

Shares

Common

Stock

(99.3%)

Value

Real

Estate

(2.4%)

-

continued

30,716

Weyerhaeuser

Company

$

941,752

Total

35,855,199

Utilities

(2.4%)

28,147

AES

Corporation

427,834

10,623

Alliant

Energy

Corporation

514,684

11,044

Ameren

Corporation

826,423

21,655

American

Electric

Power

Company,

Inc.

1,628,889

8,183

American

Water

Works

Company,

Inc.

1,013,301

6,240

Atmos

Energy

Corporation

661,003

26,531

CenterPoint

Energy,

Inc.

712,357

12,262

CMS

Energy

Corporation

651,235

14,499

Consolidated

Edison,

Inc.

1,240,099

13,518

Constellation

Energy

Corporation

1,474,543

35,173

Dominion

Energy,

Inc.

1,571,178

8,666

DTE

Energy

Company

860,361

32,396

Duke

Energy

Corporation

2,859,271

16,111

Edison

International

1,019,665

8,888

Entergy

Corporation

822,140

9,655

Evergy,

Inc.

489,509

14,674

Eversource

Energy

853,293

41,833

Exelon

Corporation

1,580,869

21,691

FirstEnergy

Corporation

741,398

85,065

NextEra

Energy,

Inc.

4,873,374

17,371

NiSource,

Inc.

428,716

9,631

NRG

Energy,

Inc.

370,986

87,904

PG&E

Corporation

a

1,417,892

4,763

Pinnacle

West

Capital

Corporation

350,938

30,983

PPL

Corporation

729,960

20,980

Public

Service

Enterprise

Group,

Inc.

1,193,972

26,452

Sempra

1,799,530

45,840

Southern

Company

2,966,765

13,259

WEC

Energy

Group,

Inc.

1,068,012

23,183

Xcel

Energy,

Inc.

1,326,531

Total

36,474,728

Total

Common

Stock

(cost

$591,306,461)

1,510,614,595

Shares

Collateral

Held

for

Securities

Loaned

(

<0.1%

)

Value

251,520

Thrivent

Cash

Management

Trust

251,520

Total

Collateral

Held

for

Securities

Loaned

(cost

$251,520)

251,520

Shares

or

Principal

Amount

Short-Term

Investments

(

0

.7

%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

200,000

5.210%,

10/18/2023

c,d

199,545

700,000

5.270%,

11/15/2023

c,d

695,624

Shares

or

Principal

Amount

Short-Term

Investments

(0.7%)

Value

Thrivent

Core

Short-Term

Reserve

Fund

901,934

5.650%

$

9,019,335

Total

Short-Term

Investments

(cost

$9,914,101)

9,914,504

Total

Investments

(cost

$601,472,082)

100.0%

$

1,520,780,619

Other

Assets

and

Liabilities,

Net

<0.1%

44,628

Total

Net

Assets

100.0%

$

1,520,825,247

a

Non-income

producing

security.

b

All

or

a

portion

of

the

security

is

on

loan.

c

The

interest

rate

shown

reflects

the

yield.

d

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Large

Cap

Index

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Common

Stock

$

247,680

Total

lending

$247,680

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$251,520

Net

amounts

due

to

counterparty

$3,840

Definitions:

plc

-

Public

Limited

Company

Large

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

175

Reference

Description:

CME

-

Chicago

Mercantile

Exchange

S&P

-

Standard

&

Poor's

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Large

Cap

Index

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

133,980,266

133,980,266

–

–

Consumer

Discretionary

161,229,323

161,229,323

–

–

Consumer

Staples

99,227,054

99,227,054

–

–

Energy

71,308,836

71,308,836

–

–

Financials

193,500,066

193,500,066

–

–

Health

Care

201,806,444

201,806,444

–

–

Industrials

125,362,543

125,362,543

–

–

Information

Technology

414,887,669

414,887,669

–

–

Materials

36,982,467

36,982,467

–

–

Real

Estate

35,855,199

35,855,199

–

–

Utilities

36,474,728

36,474,728

–

–

Short-Term

Investments

895,169

–

895,169

–

Subtotal

Investments

in

Securities

$

1,511,509,764

$

1,510,614,595

$

895,169

$

–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

9,019,335

Collateral

Held

for

Securities

Loaned

251,520

Subtotal

Other

Investments

$

9,270,855

Total

Investments

at

Value

$

1,520,780,619

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Large

Cap

Index

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Liability

Derivatives

Futures

Contracts

442,817

442,817

–

–

Total

Liability

Derivatives

$

442,817

$

442,817

$

–

$

–

The

following

table

presents

Large

Cap

Index

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$895,169

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Amount

Value

and

Unrealized

CME

E-mini

S&P

500

Index

50

December

2023

$

11,256,567

(

$

442,817

)

Total

Futures

Long

Contracts

$

11,256,567

(

$

442,817

)

Total

Futures

Contracts

$

11,256,567

(

$

442,817

)

Large

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

176

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Large

Cap

Index

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$

13,657

$

44,374

$

49,012

$

9,019

902

0.6%

Total

Affiliated

Short-Term

Investments

13,657

9,019

0.6

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

329

7,597

7,674

252

252

<0.1

Total

Collateral

Held

for

Securities

Loaned

329

252

<0.1

Total

Value

$

13,986

$

9,271

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$

351

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$

351

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

3

Total

Affiliated

Income

from

Securities

Loaned,

Net

$

3

Total

Value

$–

$–

$

–

Large

Cap

Value

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

177

Shares

Common

Stock

(

98.9%

)

Value

Communications

Services

(7.9%)

457,829

Alphabet,

Inc.,

Class

C

a

$

60,364,754

930,295

Comcast

Corporation

41,249,280

133,789

Meta

Platforms,

Inc.

a

40,164,796

1,197,427

Verizon

Communications,

Inc.

38,808,609

1,576,492

Warner

Brothers

Discovery,

Inc.

a

17,120,703

Total

197,708,142

Consumer

Discretionary

(6.3%)

241,424

Aptiv

plc

a

23,801,992

11,192

Booking

Holdings,

Inc.

a

34,515,568

213,169

D.R.

Horton,

Inc.

22,909,272

232,564

Lowe's

Companies,

Inc.

48,336,102

340,436

Sony

Group

Corporation

ADR

28,055,331

Total

157,618,265

Consumer

Staples

(8.0%)

2,177,818

Coty,

Inc.

a

23,890,664

838,208

Kenvue

,

Inc.

16,831,217

281,995

Lamb

Weston

Holdings,

Inc.

26,073,258

555,673

Philip

Morris

International,

Inc.

51,444,206

422,801

Sysco

Corporation

27,926,006

325,381

Walmart,

Inc.

52,038,183

Total

198,203,534

Energy

(10.1%)

661,865

BP

plc

ADR

25,627,413

443,022

ConocoPhillips

53,074,036

368,282

Devon

Energy

Corporation

17,567,051

1,321,949

Enterprise

Products

Partners,

LP

36,181,744

436,915

Exxon

Mobil

Corporation

51,372,466

384,187

Halliburton

Company

15,559,573

185,015

Marathon

Petroleum

Corporation

28,000,170

101,270

Pioneer

Natural

Resources

Company

23,246,529

Total

250,628,982

Financials

(18.9%)

123,736

Allstate

Corporation

13,785,428

486,162

American

International

Group,

Inc.

29,461,417

1,505,557

Bank

of

America

Corporation

41,222,151

715,540

Bank

of

New

York

Mellon

Corporation

30,517,781

188,278

Capital

One

Financial

Corporation

18,272,380

330,021

Charles

Schwab

Corporation

18,118,153

139,965

Chubb,

Ltd.

29,137,914

459,274

Comerica,

Inc.

19,082,835

171,407

Discover

Financial

Services

14,848,988

223,534

Intercontinental

Exchange,

Inc.

24,593,211

391,173

J.P.

Morgan

Chase

&

Company

56,727,908

191,861

M&T

Bank

Corporation

24,260,823

404,853

MetLife,

Inc.

25,469,302

228,042

Morgan

Stanley

18,624,190

379,494

PayPal

Holdings,

Inc.

a

22,185,219

259,630

Raymond

James

Financial,

Inc.

26,074,641

1,427,789

Wells

Fargo

&

Company

58,339,459

Total

470,721,800

Health

Care

(14.7%)

222,083

AstraZeneca

plc

ADR

15,039,461

1,054,788

Avantor

,

Inc.

a

22,234,931

91,537

Biogen,

Inc.

a

23,525,924

129,989

Cigna

Group

37,185,953

237,071

CVS

Health

Corporation

16,552,297

88,029

Elevance

Health,

Inc.

38,329,587

Shares

Common

Stock

(98.9%)

Value

Health

Care

(14.7%)

-

continued

477,328

Gilead

Sciences,

Inc.

$

35,770,960

95,562

HCA

Healthcare,

Inc.

23,506,341

213,255

Johnson

&

Johnson

33,214,466

121,908

Laboratory

Corporation

of

America

Holdings

24,509,604

444,272

Merck

&

Company,

Inc.

45,737,802

769,585

Pfizer,

Inc.

25,527,135

207,148

Zimmer

Biomet

Holdings,

Inc.

23,246,149

Total

364,380,610

Industrials

(11.7%)

64,809

Carlisle

Companies,

Inc.

16,802,381

1,777,402

CNH

Industrial

NV

21,506,564

708,515

CSX

Corporation

21,786,836

696,931

Delta

Air

Lines,

Inc.

25,786,447

491,187

Flowserve

Corporation

19,534,507

153,011

General

Dynamics

Corporation

33,810,841

110,883

Honeywell

International,

Inc.

20,484,525

84,428

JB

Hunt

Transport

Services,

Inc.

15,916,367

273,277

Johnson

Controls

International

plc

14,541,069

145,475

L3Harris

Technologies,

Inc.

25,330,107

60,808

Parker-Hannifin

Corporation

23,685,932

240,887

United

Parcel

Service,

Inc.

37,547,057

29,265

United

Rentals,

Inc.

13,010,341

Total

289,742,974

Information

Technology

(10.0%)

1,351,830

Cisco

Systems,

Inc.

72,674,381

149,655

Crane

NXT

Company

8,316,328

160,748

Microsoft

Corporation

50,756,181

408,089

QUALCOMM,

Inc.

45,322,364

924,491

Samsung

Electronics

Company,

Ltd.

46,736,842

154,112

Texas

Instruments,

Inc.

24,505,349

Total

248,311,445

Materials

(4.2%)

888,456

Axalta

Coating

Systems,

Ltd.

a

23,899,467

381,472

CF

Industries

Holdings,

Inc.

32,707,409

257,585

Eastman

Chemical

Company

19,761,921

175,362

Nucor

Corporation

27,417,849

Total

103,786,646

Real

Estate

(2.8%)

66,369

AvalonBay

Communities,

Inc.

11,398,212

170,809

CBRE

Group,

Inc.

a

12,615,953

1,389,117

Healthcare

Realty

Trust,

Inc.

21,211,816

1,455,180

Host

Hotels

&

Resorts,

Inc.

23,384,743

Total

68,610,724

Utilities

(4.3%)

369,773

Constellation

Energy

Corporation

40,334,839

321,009

Duke

Energy

Corporation

28,332,254

200,555

Entergy

Corporation

18,551,338

353,452

Public

Service

Enterprise

Group,

Inc.

20,114,953

Total

107,333,384

Total

Common

Stock

(cost

$1,867,242,192)

2,457,046,506

Large

Cap

Value

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

178

Shares

Short-Term

Investments

(

1.6%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

3,874,672

5.650%

$

38,746,721

Total

Short-Term

Investments

(cost

$38,741,963)

38,746,721

Total

Investments

(cost

$1,905,984,155)

100.5%

$2,495,793,227

Other

Assets

and

Liabilities,

Net

(0.5%)

(11,712,164)

Total

Net

Assets

100.0%

$2,484,081,063

a

Non-income

producing

security.

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

plc

-

Public

Limited

Company

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Large

Cap

Value

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

197,708,142

197,708,142

–

–

Consumer

Discretionary

157,618,265

157,618,265

–

–

Consumer

Staples

198,203,534

198,203,534

–

–

Energy

250,628,982

250,628,982

–

–

Financials

470,721,800

470,721,800

–

–

Health

Care

364,380,610

364,380,610

–

–

Industrials

289,742,974

289,742,974

–

–

Information

Technology

248,311,445

201,574,603

46,736,842

–

Materials

103,786,646

103,786,646

–

–

Real

Estate

68,610,724

68,610,724

–

–

Utilities

107,333,384

107,333,384

–

–

Subtotal

Investments

in

Securities

$2,457,046,506

$2,410,309,664

$46,736,842

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

38,746,721

Subtotal

Other

Investments

$38,746,721

Total

Investments

at

Value

$2,495,793,227

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Large

Cap

Value

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

179

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Large

Cap

Value

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$45,826

$165,464

$172,543

$38,747

3,875

1.6%

Total

Affiliated

Short-Term

Investments

45,826

38,747

1.6

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

3,651

3,651

–

–

–

Total

Collateral

Held

for

Securities

Loaned

–

–

–

Total

Value

$45,826

$38,747

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$5

($5)

$

–

$1,178

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$1,178

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

0

Total

Affiliated

Income

from

Securities

Loaned,

Net

$0

Total

Value

$5

($5)

$

–

Limited

Maturity

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

180

Principal

Amount

Long-Term

Fixed

Income

(

98

.6

%

)

Value

Asset-Backed

Securities

(17.6%)

510

Asset

Backed

Trust

$

2,154,166

2.116%, 

6/25/2061,

Ser.

2021-NPL2,

Class

A1

a,b

$

1,969,204

1,954,920

2.240%, 

11/25/2069,

Ser.

2021-NPL1,

Class

A1

a,b

1,821,176

ACHV

ABS

Trust

336,379

6.420%, 

3/18/2030,

Ser.

2023-1PL,

Class

A

a

336,473

599,633

6.420%, 

5/20/2030,

Ser.

2023-2PL,

Class

A

a

599,858

628,611

6.600%, 

8/19/2030,

Ser.

2023-3PL,

Class

A

a

628,989

Affirm

Asset

Securitization

Trust

258,939

1.750%, 

2/15/2027,

Ser.

2022-X1,

Class

A

a

254,585

2,000,000

4.300%, 

5/17/2027,

Ser.

2022-A,

Class

A

a

1,957,345

1,500,000

6.820%, 

9/15/2028,

Ser.

2023-B,

Class

A

a

1,501,897

Americredit

Automobile

Receivables

Trust

2,703,460

5.840%, 

10/19/2026,

Ser.

2023-1,

Class

A2A

2,702,194

AMSR

Trust

2,000,000

2.417%, 

12/17/2038,

Ser.

2021-SFR4,

Class

B

a

1,764,285

Ares

XL

CLO,

Ltd.

3,000,000

6.970%, 

(TSFR3M

+

1.662%),

1/15/2029,

Ser.

2016-40A,

Class

A3RR

a,c

2,963,073

Avant

Credit

Card

Master

Trust

4,500,000

1.370%, 

4/15/2027,

Ser.

2021-1A,

Class

A

a

4,179,464

Bankers

Healthcare

Group

Securitization

Trust

824,598

5.280%, 

10/17/2035,

Ser.

2022-C,

Class

A

a

818,514

BHG

Securitization

Trust

1,601,942

0.900%, 

10/17/2034,

Ser.

2021-B,

Class

A

a

1,540,417

BRAVO

Residential

Funding

Trust

2,452,539

6.065%, 

(SOFR30A

+

0.750%),

10/25/2023,

Ser.

2021-HE2,

Class

A1

a,c

2,410,007

Business

Jet

Securities,

LLC

626,683

2.981%, 

11/15/2035,

Ser.

2020-1A,

Class

A

a

587,534

CarVal

CLO

VII-C,

Ltd.

1,750,000

7.526%, 

(TSFR3M

+

2.200%),

1/20/2035,

Ser.

2023-1A,

Class

A1

a,c

1,757,266

Cascade

Funding

Mortgage

Trust

1,977,342

0.898%, 

6/25/2036,

Ser.

2021-HB6,

Class

A

a,c

1,915,581

898,173

1.100%, 

3/20/2041,

Ser.

2021-GRN1,

Class

A

a

843,536

Cascade

Funding

Mortgage

Trust,

LLC

722,623

0.801%, 

2/25/2031,

Ser.

2021-HB5,

Class

A

a,c

705,446

609,598

4.250%, 

4/25/2033,

Ser.

2023-HB12,

Class

A

a,c

583,512

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Asset-Backed

Securities

(17.6%)

-

continued

CIM

Trust

$

1,243,655

2.568%, 

7/25/2059,

Ser.

2021-NR2,

Class

A1

a,b

$

1,196,658

Commonbond

Student

Loan

Trust

244,284

2.550%, 

5/25/2041,

Ser.

2017-AGS,

Class

A1

a

225,232

486,182

5.934%, 

(TSFR1M

+

0.614%),

2/25/2044,

Ser.

2018-AGS,

Class

A2

a,c

473,545

Dext

ABS,

LLC

781,814

5.680%, 

4/15/2024,

Ser.

2023-1,

Class

A1

a

781,155

DT

Auto

Owner

Trust

1,096,308

5.880%, 

4/15/2027,

Ser.

2023-2A,

Class

A

a

1,094,567

Education

Funding

Trust

1,180,392

2.790%, 

7/25/2041,

Ser.

2020-A,

Class

A

a

1,069,555

Elmwood

CLO

18,

Ltd.

2,500,000

6.958%, 

(TSFR3M

+

1.650%),

7/17/2033,

Ser.

2022-5A,

Class

AR

a,c

2,499,927

Flatiron

CLO,

Ltd.

3,500,000

7.076%, 

(TSFR3M

+

1.712%),

5/15/2030,

Ser.

2017-1A,

Class

BR

a,c

3,458,791

Foundation

Finance

Trust

1,124,709

1.270%, 

5/15/2041,

Ser.

2021-1A,

Class

A

a

991,729

2,500,000

6.530%, 

6/15/2049,

Ser.

2023-2A,

Class

A

a,d

2,500,000

Galaxy

XXIII

CLO,

Ltd.

3,800,000

6.957%, 

(TSFR3M

+

1.612%),

4/24/2029,

Ser.

2017-23A,

Class

B1R

a,c

3,756,851

Genesis

Sales

Finance

Master

Trust

5,000,000

1.200%, 

12/21/2026,

Ser.

2021-AA,

Class

A

a

4,747,857

GMAC

Mortgage

Corporation

Loan

Trust

33,087

5.934%, 

(TSFR1M

+

0.614%),

8/25/2035,

Ser.

2005-HE1,

Class

A2

c,e

18,339

GSAA

Home

Equity

Trust

461,699

7.384%, 

(TSFR1M

+

2.064%),

5/25/2034,

Ser.

2004-4,

Class

M2

c

497,826

844,141

4.467%, 

8/25/2034,

Ser.

2004-10,

Class

M2

b,c

734,273

Longfellow

Place

CLO,

Ltd.

3,997,454

7.320%, 

(TSFR3M

+

2.012%),

4/15/2029,

Ser.

2013-1A,

Class

BR3

a,c

3,996,131

Marlette

Funding

Trust

1,819,653

6.070%, 

4/15/2033,

Ser.

2023-1A,

Class

A

a

1,816,003

Mercury

Financial

Credit

Card

Master

Trust

1,800,000

2.500%, 

9/21/2026,

Ser.

2022-1A,

Class

A

a

1,723,043

Limited

Maturity

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

181

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Asset-Backed

Securities

(17.6%)

-

continued

National

Collegiate

Trust

$

606,213

5.729%, 

(LIBOR

1M

+

0.295%),

5/25/2031,

Ser.

2007-A,

Class

A

a,c

$

587,038

Navient

Student

Loan

Trust

1,252,387

4.160%, 

10/15/2070,

Ser.

2022-BA,

Class

A

a

1,169,152

Oak

Street

Investment

2,091,297

1.850%, 

11/20/2050,

Ser.

2020-1A,

Class

A1

a

1,853,791

OneMain

Financial

Issuance

Trust

3,500,000

1.750%, 

9/14/2035,

Ser.

2020-2A,

Class

A

a

3,140,267

OZLM

VIII,

Ltd.

2,000,000

7.220%, 

(TSFR3M

+

1.912%),

10/17/2029,

Ser.

2014-8A,

Class

A2R3

a,c

1,982,880

Pagaya

AI

Debt

Trust

666,405

7.556%, 

7/15/2030,

Ser.

2023-1,

Class

A

a

669,121

Pagaya

AI

Technology

in

Housing

Trust

2,000,000

4.250%, 

8/25/2025,

Ser.

2022-1,

Class

B

a

1,883,564

Palmer

Square

Loan

Funding,

Ltd.

3,750,000

6.955%, 

(TSFR3M

+

1.700%),

7/20/2031,

Ser.

2023-1A,

Class

A1

a,c

3,750,544

Park

Blue

CLO

2022-II,

Ltd.

2,000,000

7.876%, 

(TSFR3M

+

2.550%),

1/20/2035,

Ser.

2022-2A,

Class

A1

a,c

2,013,384

PPM

CLO

6,

Ltd.

3,227,281

7.776%, 

(TSFR3M

+

2.450%),

1/20/2031,

Ser.

2022-6A,

Class

A

a,c

3,231,644

Preston

Ridge

Partners

Mortgage

Trust,

LLC

1,699,429

2.115%, 

1/25/2026,

Ser.

2021-1,

Class

A1

a,c

1,600,573

Pretium

Mortgage

Credit

Partners,

LLC

1,238,888

5.240%, 

4/25/2052,

Ser.

2022-NPL2,

Class

A1

a,b

1,203,798

2,326,431

1.868%, 

7/25/2051,

Ser.

2021-NPL3,

Class

A1

a,b

2,151,587

963,070

2.240%, 

9/27/2060,

Ser.

2021-NPL1,

Class

A1

a,b

929,365

Progress

Residential

Trust

1,997,532

2.078%, 

6/18/2037,

Ser.

2020-SFR2,

Class

A

a

1,868,409

Santander

Drive

Auto

Receivables

Trust

885,791

5.870%, 

3/16/2026,

Ser.

2023-2,

Class

A2

885,299

2,323,753

5.360%, 

5/15/2026,

Ser.

2023-1,

Class

A2

2,320,234

SFS

Auto

Receivables

Securitization

Trust

1,000,000

5.890%, 

3/22/2027,

Ser.

2023-1A,

Class

A2A

a

998,532

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Asset-Backed

Securities

(17.6%)

-

continued

Sound

Point

CLO

XIV,

Ltd.

$

4,500,000

7.107%, 

(TSFR3M

+

1.762%),

1/23/2029,

Ser.

2016-3A,

Class

B1R

a,c

$

4,495,887

5,000,000

7.657%, 

(TSFR3M

+

2.312%),

1/23/2029,

Ser.

2016-3A,

Class

CR

a,c

4,999,880

Sound

Point

CLO

XV,

Ltd.

6,000,000

7.107%, 

(TSFR3M

+

1.762%),

1/23/2029,

Ser.

2017-1A,

Class

BR

a,c

5,985,090

Terwin

Mortgage

Trust

1,029,264

6.934%, 

(TSFR1M

+

1.614%),

12/25/2034,

Ser.

2004-21HE,

Class

2M2

a,c

1,002,324

Tesla

Auto

Lease

Trust

1,600,000

0.910%, 

9/22/2025,

Ser.

2021-B,

Class

B

a

1,538,602

3,000,000

6.130%, 

9/21/2026,

Ser.

2023-B,

Class

A3

a

2,998,665

Towd

Point

Asset

Trust

1,675,960

1.050%, 

11/20/2061,

Ser.

2021-SL1,

Class

A1

a

1,517,821

Tricon

Residential

Trust

1,000,000

2.244%, 

7/17/2038,

Ser.

2021-SFR1,

Class

B

a

892,302

Upstart

Securitization

Trust

81,517

0.830%, 

7/20/2031,

Ser.

2021-3,

Class

A

a

81,245

1,872,476

6.590%, 

2/20/2033,

Ser.

2023-1,

Class

A

a

1,868,664

2,232,919

6.770%, 

6/20/2033,

Ser.

2023-2,

Class

A

a

2,229,767

VCAT

Asset

Securitization,

LLC

823,487

2.289%, 

12/26/2050,

Ser.

2021-NPL1,

Class

A1

a,b

796,807

Vericrest

Opportunity

Loan

Transferee

1,937,104

1.893%, 

2/27/2051,

Ser.

2021-NPL1,

Class

A1

a,b

1,820,804

2,670,978

1.893%, 

2/27/2051,

Ser.

2021-NPL2,

Class

A1

a,b

2,481,384

819,096

2.116%, 

4/25/2051,

Ser.

2021-NPL8,

Class

A1

a,b

762,056

2,626,927

1.868%, 

8/25/2051,

Ser.

2021-NP11,

Class

A1

a,b

2,428,979

Veridian

Auto

Receivables

Trust

2,000,000

5.970%, 

8/17/2026,

Ser.

2023-1A,

Class

A2

a

1,995,386

Wind

River

CLO,

Ltd.

3,000,000

7.188%, 

(TSFR3M

+

1.862%),

7/20/2030,

Ser.

2013-1A,

Class

A2RR

a,c

2,988,900

Total

136,545,583

Basic

Materials

(1.5%)

Anglo

American

Capital

plc

1,050,000

4.875%, 

5/14/2025

a

1,030,447

EIDP,

Inc.

906,000

4.500%, 

5/15/2026

882,466

FMC

Corporation

925,000

5.150%, 

5/18/2026

898,671

Freeport-McMoRan,

Inc.

1,890,000

4.550%, 

11/14/2024

1,855,092

Limited

Maturity

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

182

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Basic

Materials

(1.5%)

-

continued

Glencore

Funding,

LLC

$

1,000,000

4.625%, 

4/29/2024

a

$

989,913

1,475,000

6.125%, 

10/6/2028

a,f

1,472,468

LYB

International

Finance

III,

LLC

1,079,000

1.250%, 

10/1/2025

983,173

Nucor

Corporation

800,000

2.000%, 

6/1/2025

751,134

Steel

Dynamics,

Inc.

775,000

2.400%, 

6/15/2025

728,140

Syngenta

Finance

NV

2,235,000

4.892%, 

4/24/2025

a

2,179,347

Total

11,770,851

Capital

Goods

(2.2%)

Amphenol

Corporation

1,500,000

4.750%, 

3/30/2026

1,473,294

Boeing

Company

2,350,000

4.875%, 

5/1/2025

2,309,622

1,750,000

2.196%, 

2/4/2026

1,606,821

Howmet

Aerospace,

Inc.

1,014,000

6.875%, 

5/1/2025

1,017,969

1,100,000

3.000%, 

1/15/2029

931,105

Huntington

Ingalls

Industries,

Inc.

700,000

3.844%, 

5/1/2025

676,106

Ingersoll

Rand,

Inc.

250,000

5.400%, 

8/14/2028

245,791

John

Deere

Capital

Corporation

925,000

5.150%, 

9/8/2026

922,085

1,100,000

4.950%, 

7/14/2028

1,084,808

Otis

Worldwide

Corporation

1,225,000

2.056%, 

4/5/2025

1,156,513

Regal

Rexnord

Corporation

850,000

6.050%, 

2/15/2026

a

840,524

Republic

Services,

Inc.

750,000

2.500%, 

8/15/2024

728,442

1,250,000

0.875%, 

11/15/2025

1,130,891

Textron,

Inc.

2,000,000

3.875%, 

3/1/2025

1,941,807

Veralto

Corporation

1,100,000

5.500%, 

9/18/2026

a

1,094,967

Total

17,160,745

Collateralized

Mortgage

Obligations

(9.1%)

A&D

Mortgage

Trust

3,451,684

6.733%, 

7/25/2068,

Ser.

2023-NQM3,

Class

A1

a,b

3,447,232

Angel

Oak

Mortgage

Trust

2,486,332

3.137%, 

12/25/2066,

Ser.

2022-1,

Class

A2

a,c

2,066,462

Banc

of

America

Funding

Trust

265,204

4.115%, 

1/25/2035,

Ser.

2004-D,

Class

4A1

c

260,504

451,487

5.750%, 

3/25/2036,

Ser.

2006-3,

Class

3A1

412,629

Bear

Stearns

Adjustable

Rate

Mortgage

Trust

98,500

7.670%, 

(CMT

1Y

+

2.300%),

10/25/2035,

Ser.

2005-9,

Class

A1

c

91,430

Bellemeade

Re,

Ltd.

75,487

7.065%, 

(SOFR30A

+

1.750%),

3/25/2031,

Ser.

2021-1A,

Class

M1A

a,c

75,506

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Collateralized

Mortgage

Obligations

(9.1%)

-

continued

CAFL

Issuer,

LLC

$

3,000,000

2.239%, 

3/28/2029,

Ser.

2021-RTL1,

Class

A1

a

$

2,772,719

Cascade

Funding

Mortgage

Trust

908,310

4.000%, 

10/25/2068,

Ser.

2018-RM2,

Class

A

a,c

895,442

CHNGE

Mortgage

Trust

1,662,156

6.000%, 

1/25/2058,

Ser.

2022-5,

Class

A1

a,c

1,609,495

1,620,842

3.007%, 

1/25/2067,

Ser.

2022-1,

Class

A1

a,c

1,428,128

2,903,694

7.065%, 

3/25/2058,

Ser.

2023-1,

Class

A1

a,c

2,874,884

2,451,657

3.757%, 

3/25/2067,

Ser.

2022-2,

Class

A1

a,c

2,250,916

2,747,028

6.525%, 

6/25/2058,

Ser.

2023-2,

Class

A1

a,b

2,697,330

2,845,705

7.100%, 

7/25/2058,

Ser.

2023-3,

Class

A1

a,b

2,829,818

Citigroup

Mortgage

Loan

Trust,

Inc.

580,457

4.096%, 

(CMT

1Y

+

2.400%),

3/25/2036,

Ser.

2006-AR1,

Class

3A1

c

531,761

COLT

Mortgage

Loan

Trust

2,404,319

1.726%, 

11/25/2066,

Ser.

2021-5,

Class

A1

a,c

1,969,627

Countrywide

Alternative

Loan

Trust

149,913

5.500%, 

11/25/2035,

Ser.

2005-49CB,

Class

A1

99,569

167,017

5.500%, 

2/25/2036,

Ser.

2005-85CB,

Class

2A2

127,590

Credit

Suisse

Mortgage

Capital

Certificates

2,905,647

2.303%, 

10/25/2066,

Ser.

2021-NQM8,

Class

A2

a,c

2,306,332

Deephaven

Residential

Mortgage

Trust

2,480,370

2.205%, 

1/25/2067,

Ser.

2022-1,

Class

A1

a,c

2,145,109

2,316,124

2.085%, 

11/25/2066,

Ser.

2021-4,

Class

A2

a,c

1,910,927

Federal

National

Mortgage

Association

-

REMIC

2,054,383

4.500%, 

1/25/2046,

Ser.

2022-68,

Class

BA

1,985,785

Flagstar

Mortgage

Trust

1,576,133

2.500%, 

9/25/2041,

Ser.

2021-9INV,

Class

A1

a,c

1,308,362

GCAT

Trust

1,884,349

1.855%, 

8/25/2066,

Ser.

2021-NQM6,

Class

A1

a,c

1,583,878

GS

Mortgage-Backed

Securities

Trust

358,248

1.791%, 

9/27/2060,

Ser.

2020-NQM1,

Class

A2

a,c

320,041

Homeward

Opportunities

Fund

Trust

255,065

6.228%, 

8/25/2025,

Ser.

2020-BPL1,

Class

A1

a

255,179

J.P.

Morgan

Alternative

Loan

Trust

606,973

4.188%, 

3/25/2036,

Ser.

2006-A1,

Class

2A1

c

466,645

Limited

Maturity

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

183

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Collateralized

Mortgage

Obligations

(9.1%)

-

continued

LHOME

Mortgage

Trust

$

696,013

2.090%, 

2/25/2026,

Ser.

2021-RTL1,

Class

A1

a,c

$

692,498

2,137,544

2.090%, 

6/25/2026,

Ser.

2021-RTL2,

Class

A1

a,b

2,102,757

2,000,000

2.363%, 

9/25/2026,

Ser.

2021-RTL3,

Class

A1

a,b

1,939,945

1,100,000

8.000%, 

6/25/2028,

Ser.

2023-RTL2,

Class

A1

a,b

1,098,043

MFRA

Trust

2,108,523

3.875%, 

9/25/2056,

Ser.

2022-CHM1,

Class

A1

a,b

1,942,907

Mortgage

Equity

Conversion

Asset

Trust

1,018,183

5.950%, 

(CMT

1Y

+

0.490%),

1/25/2042,

Ser.

2007-FF1,

Class

A

a,c

1,007,523

1,030,690

5.930%, 

(CMT

1Y

+

0.470%),

2/25/2042,

Ser.

2007-FF2,

Class

A

a,c

1,019,672

New

York

Mortgage

Trust

2,247,591

2.239%, 

5/25/2026,

Ser.

2021-BPL1,

Class

A1

a,b

2,226,612

Palisades

Mortgage

Loan

Trust

1,500,000

2.857%, 

6/25/2026,

Ser.

2021-RTL1,

Class

A1

a,b

1,455,050

Preston

Ridge

Partners

Mortgage

Trust,

LLC

1,670,163

2.363%, 

11/25/2025,

Ser.

2020-6,

Class

A1

a,b

1,621,879

ROC

Securities

Trust

Series

2,900,000

2.487%, 

8/25/2026,

Ser.

2021-RTL1,

Class

A1

a,c

2,821,711

Starwood

Mortgage

Residential

Trust

1,709,000

2.731%, 

11/25/2066,

Ser.

2021-6,

Class

A2

a,c

1,084,448

Toorak

Mortgage

Corporation,

Ltd.

2,485,381

2.577%, 

2/25/2057,

Ser.

2022-INV1,

Class

A1

a,c

2,152,074

2,288,799

2.240%, 

6/25/2024,

Ser.

2021-1,

Class

A1

a,b

2,225,515

TRK

Trust

1,588,841

1.966%, 

11/25/2056,

Ser.

2021-INV2,

Class

A1

a,c

1,283,161

TVC

Mortgage

Trust

1,500,000

8.250%, 

11/25/2027,

Ser.

2023-RTL1,

Class

A1

a

1,494,962

Vericrest

Opportunity

Loan

Transferee

1,454,574

2.116%, 

3/27/2051,

Ser.

2021-NPL5,

Class

A1

a,b

1,376,455

Verus

Securitization

Trust

3,444,271

5.930%, 

3/25/2068,

Ser.

2023-3,

Class

A1

a,b

3,393,412

1,363,785

2.286%, 

11/25/2066,

Ser.

2021-8,

Class

A2

a,c

1,100,636

Wachovia

Mortgage

Loan

Trust,

LLC

32,060

4.624%, 

5/20/2036,

Ser.

2006-A,

Class

2A1

c

30,224

Total

70,792,784

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Commercial

Mortgage-Backed

Securities

(0.8%)

GCT

Commercial

Mortgage

Trust

$

2,000,000

6.697%, 

(TSFR1M

+

1.364%),

2/15/2038,

Ser.

2021-GCT,

Class

B

a,c

$

1,319,681

GS

Mortgage

Securities

Trust

3,000,000

7.047%, 

(TSFR1M

+

1.714%),

5/15/2026,

Ser.

2021-ROSS,

Class

B

a,c

2,523,314

Silver

Hill

Trust

2,148,529

3.102%, 

11/25/2049,

Ser.

2019-1,

Class

A1

a,c

2,022,879

Total

5,865,874

Communications

Services

(3.4%)

American

Tower

Corporation

750,000

3.375%, 

5/15/2024

737,951

1,000,000

4.400%, 

2/15/2026

968,188

500,000

1.450%, 

9/15/2026

440,642

1,200,000

5.500%, 

3/15/2028

1,177,305

Bell

Telephone

Company

of

Canada

2,250,000

0.750%, 

3/17/2024

2,197,304

Charter

Communications

Operating,

LLC/Charter

Communications

Operating

Capital

Corporation

650,000

4.500%, 

2/1/2024

646,492

2,100,000

4.908%, 

7/23/2025

2,052,020

Cox

Communications,

Inc.

517,000

3.150%, 

8/15/2024

a

504,436

Crown

Castle

International

Corporation

1,000,000

3.200%, 

9/1/2024

974,485

Crown

Castle,

Inc.

740,000

4.800%, 

9/1/2028

702,380

Meta

Platforms,

Inc.

1,100,000

4.600%, 

5/15/2028

1,076,035

Netflix,

Inc.

1,000,000

5.875%, 

2/15/2025

997,200

NTT

Finance

Corporation

700,000

4.142%, 

7/26/2024

a

690,130

Paramount

Global

400,000

4.750%, 

5/15/2025

389,051

Sprint

Capital

Corporation

2,770,000

6.875%, 

11/15/2028

2,860,015

Sprint

Corporation

2,450,000

7.125%, 

6/15/2024

2,464,903

1,000,000

7.625%, 

2/15/2025

1,014,654

Take-Two

Interactive

Software,

Inc.

1,250,000

5.000%, 

3/28/2026

1,226,542

T-Mobile

USA,

Inc.

1,400,000

3.500%, 

4/15/2025

1,350,872

Warnermedia

Holdings,

Inc.

1,900,000

3.638%, 

3/15/2025

1,832,531

1,800,000

3.755%, 

3/15/2027

1,661,792

Total

25,964,928

Consumer

Cyclical

(5.5%)

D.R.

Horton,

Inc.

800,000

2.600%, 

10/15/2025

748,557

Daimler

Trucks

Finance

North

America,

LLC

2,000,000

1.625%, 

12/13/2024

a

1,900,058

Limited

Maturity

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

184

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Consumer

Cyclical

(5.5%)

-

continued

$

1,100,000

5.600%, 

8/8/2025

a

$

1,093,036

Expedia

Group,

Inc.

3,150,000

6.250%, 

5/1/2025

a

3,155,182

Ford

Motor

Credit

Company,

LLC

1,840,000

3.370%, 

11/17/2023

1,829,093

1,250,000

3.810%, 

1/9/2024

1,236,390

1,100,000

3.375%, 

11/13/2025

1,020,598

General

Motors

Company

1,000,000

6.125%, 

10/1/2025

999,135

General

Motors

Financial

Company,

Inc.

500,000

1.050%, 

3/8/2024

488,864

900,000

3.950%, 

4/13/2024

887,947

1,420,000

2.900%, 

2/26/2025

1,354,772

925,000

2.750%, 

6/20/2025

870,788

Hyatt

Hotels

Corporation

1,650,000

5.750%, 

1/30/2027

1,639,418

Hyundai

Capital

America

900,000

0.800%, 

1/8/2024

a

887,359

1,140,000

1.800%, 

10/15/2025

a

1,048,244

750,000

1.650%, 

9/17/2026

a

661,849

Hyundai

Capital

Services,

Inc.

750,000

1.250%, 

2/8/2026

a

672,790

Kohl's

Corporation

2,286,000

10.750%, 

5/15/2025

2,337,435

Lennar

Corporation

1,100,000

4.750%, 

5/30/2025

1,076,117

Lowe's

Companies,

Inc.

2,000,000

4.000%, 

4/15/2025

1,948,831

1,000,000

4.400%, 

9/8/2025

977,595

Marriott

International,

Inc./MD

1,150,000

3.600%, 

4/15/2024

1,135,806

819,000

5.750%, 

5/1/2025

817,403

750,000

5.450%, 

9/15/2026

743,120

McDonald's

Corporation

700,000

4.800%, 

8/14/2028

684,677

Mercedes-Benz

Finance

North

America,

LLC

925,000

5.200%, 

8/3/2026

a

915,653

750,000

5.100%, 

8/3/2028

a

734,483

Meritage

Homes

Corporation

1,250,000

6.000%, 

6/1/2025

1,228,939

PACCAR

Financial

Corporation

1,100,000

5.050%, 

8/10/2026

1,094,702

925,000

4.950%, 

8/10/2028

914,454

PulteGroup,

Inc.

1,750,000

5.500%, 

3/1/2026

1,737,962

Starbucks

Corporation

900,000

4.750%, 

2/15/2026

886,757

Toyota

Motor

Credit

Corporation

875,000

0.800%, 

10/16/2025

796,236

1,100,000

4.450%, 

5/18/2026

1,075,585

VICI

Properties,

LP/VICI

Note

Company,

Inc.

2,750,000

4.625%, 

6/15/2025

a

2,655,647

Total

42,255,482

Consumer

Non-Cyclical

(5.3%)

AbbVie,

Inc.

1,920,000

3.600%, 

5/14/2025

1,855,589

Altria

Group,

Inc.

1,000,000

4.400%, 

2/14/2026

970,753

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Consumer

Non-Cyclical

(5.3%)

-

continued

Amgen,

Inc.

$

1,000,000

5.250%, 

3/2/2025

$

992,515

825,000

5.150%, 

3/2/2028

811,384

BAT

International

Finance

plc

2,500,000

1.668%, 

3/25/2026

2,252,415

1,100,000

5.931%, 

2/2/2029

1,079,923

Becton,

Dickinson

and

Company

1,250,000

4.693%, 

2/13/2028

1,211,846

Coca-Cola

Europacific

Partners

plc

1,250,000

0.800%, 

5/3/2024

a

1,213,426

Conagra

Brands,

Inc.

1,750,000

4.300%, 

5/1/2024

1,731,724

CVS

Health

Corporation

900,000

5.000%, 

2/20/2026

886,029

GSK

Consumer

Healthcare

Capital

US,

LLC

1,100,000

3.375%, 

3/24/2027

1,020,524

HCA,

Inc.

1,250,000

5.875%, 

2/15/2026

1,243,072

Imperial

Brands

Finance

plc

1,750,000

3.125%, 

7/26/2024

a

1,705,389

JBS

USA

LUX

SA/JBS

USA

Food

Company/JBS

USA

Finance,

Inc.

2,000,000

2.500%, 

1/15/2027

1,766,640

Kenvue,

Inc.

915,000

5.050%, 

3/22/2028

a

902,886

Kraft

Heinz

Foods

Company

2,500,000

3.000%, 

6/1/2026

2,343,554

Mattel,

Inc.

2,000,000

3.375%, 

4/1/2026

a

1,849,399

McKesson

Corporation

1,500,000

0.900%, 

12/3/2025

1,355,140

Nestle

Holdings,

Inc.

1,475,000

5.000%, 

3/14/2028

a

1,466,074

Newell

Brands,

Inc.

2,000,000

4.875%, 

6/1/2025

1,916,376

Pfizer

Investment

Enterprises

Pte,

Ltd.

1,940,000

4.450%, 

5/19/2026

1,895,200

Philip

Morris

International,

Inc.

1,250,000

5.000%, 

11/17/2025

1,235,120

1,350,000

0.875%, 

5/1/2026

1,203,368

900,000

4.875%, 

2/15/2028

871,898

Royalty

Pharma

plc

2,675,000

1.200%, 

9/2/2025

2,430,910

Stryker

Corporation

2,500,000

3.500%, 

3/15/2026

2,382,826

Universal

Health

Services,

Inc.

1,650,000

1.650%, 

9/1/2026

1,454,412

Zoetis,

Inc.

1,150,000

5.400%, 

11/14/2025

1,145,069

Total

41,193,461

Energy

(4.5%)

Canadian

Natural

Resources,

Ltd.

1,400,000

2.050%, 

7/15/2025

1,306,496

Cheniere

Corpus

Christi

Holdings,

LLC

1,391,000

5.875%, 

3/31/2025

1,380,651

Cheniere

Energy

Partners,

LP

2,500,000

4.500%, 

10/1/2029

2,263,683

Limited

Maturity

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

185

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Energy

(4.5%)

-

continued

Columbia

Pipelines

Holding

Company,

LLC

$

925,000

6.055%, 

8/15/2026

a

$

927,901

740,000

6.042%, 

8/15/2028

a

736,249

Continental

Resources,

Inc.

2,650,000

2.268%, 

11/15/2026

a

2,347,763

Devon

Energy

Corporation

1,800,000

5.250%, 

9/15/2024

1,786,324

1,150,000

5.850%, 

12/15/2025

1,144,151

Energy

Transfer,

LP

950,000

2.900%, 

5/15/2025

902,524

EQT

Corporation

277,000

6.125%, 

2/1/2025

276,045

Hess

Corporation

1,738,000

3.500%, 

7/15/2024

1,704,449

Marathon

Petroleum

Corporation

1,700,000

4.700%, 

5/1/2025

1,664,950

MPLX,

LP

1,500,000

4.875%, 

6/1/2025

1,471,298

1,100,000

1.750%, 

3/1/2026

997,426

National

Fuel

Gas

Company

750,000

5.200%, 

7/15/2025

734,989

1,370,000

5.500%, 

1/15/2026

1,347,349

Occidental

Petroleum

Corporation

1,500,000

5.875%, 

9/1/2025

1,492,380

ONEOK

Partners,

LP

721,000

4.900%, 

3/15/2025

708,079

ONEOK,

Inc.

500,000

5.550%, 

11/1/2026

496,741

500,000

5.650%, 

11/1/2028

493,524

Ovintiv,

Inc.

750,000

5.650%, 

5/15/2025

745,708

1,200,000

5.375%, 

1/1/2026

1,183,160

Phillips

66

Company

800,000

4.950%, 

12/1/2027

783,976

Pioneer

Natural

Resources

Company

1,700,000

1.125%, 

1/15/2026

1,536,357

Plains

All

American

Pipeline,

LP/

PAA

Finance

Corporation

2,000,000

3.850%, 

10/15/2023

1,996,500

750,000

4.650%, 

10/15/2025

728,202

Targa

Resources

Partners,

LP/

Targa

Resources

Partners

Finance

Corporation

1,750,000

6.875%, 

1/15/2029

1,751,677

Transcontinental

Gas

Pipe

Line

Company,

LLC

600,000

7.850%, 

2/1/2026

623,811

Western

Midstream

Operating,

LP

1,500,000

3.100%, 

2/1/2025

1,435,110

Total

34,967,473

Financials

(31.3%)

ABN

AMRO

Bank

NV

1,100,000

6.339%, 

9/18/2027

a,c

1,097,242

AerCap

Ireland

Capital

DAC/

AerCap

Global

Aviation

Trust

1,375,000

3.150%, 

2/15/2024

1,359,312

1,000,000

1.650%, 

10/29/2024

951,241

1,300,000

6.500%, 

7/15/2025

1,301,499

1,200,000

1.750%, 

1/30/2026

1,082,964

250,000

2.450%, 

10/29/2026

223,924

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Financials

(31.3%)

-

continued

$

900,000

6.100%, 

1/15/2027

$

895,594

Air

Lease

Corporation

1,500,000

4.250%, 

2/1/2024

1,489,564

1,500,000

0.800%, 

8/18/2024

1,430,197

Aircastle,

Ltd.

2,100,000

5.250%, 

8/11/2025

a

2,045,490

Ally

Financial,

Inc.

3,000,000

5.750%, 

11/20/2025

g

2,914,072

American

Express

Company

1,650,000

2.250%, 

3/4/2025

1,567,964

1,500,000

3.950%, 

8/1/2025

1,451,050

625,000

4.900%, 

2/13/2026

613,175

American

International

Group,

Inc.

700,000

2.500%, 

6/30/2025

660,331

Anthem,

Inc.

1,025,000

2.375%, 

1/15/2025

978,763

Ares

Capital

Corporation

924,000

4.250%, 

3/1/2025

888,600

1,350,000

3.875%, 

1/15/2026

1,263,214

800,000

2.150%, 

7/15/2026

701,887

Athene

Global

Funding

1,100,000

1.200%, 

10/13/2023

a

1,098,365

Australia

&

New

Zealand

Banking

Group,

Ltd.

1,890,000

2.950%, 

7/22/2030

a,c

1,754,476

Aviation

Capital

Group,

LLC

1,500,000

4.875%, 

10/1/2025

a

1,441,247

Avolon

Holdings

Funding,

Ltd.

2,000,000

3.950%, 

7/1/2024

a

1,957,592

1,644,000

5.500%, 

1/15/2026

a

1,591,536

1,000,000

2.125%, 

2/21/2026

a

895,784

450,000

4.250%, 

4/15/2026

a

422,953

Banco

Santander

Mexico

SA

320,000

5.375%, 

4/17/2025

a

314,514

Banco

Santander

SA

1,000,000

5.742%, 

(CMT

1Y

+

0.450%),

6/30/2024

c

998,131

1,600,000

5.147%, 

8/18/2025

1,566,405

1,000,000

1.849%, 

3/25/2026

899,326

600,000

4.175%, 

3/24/2028

c

554,027

1,000,000

5.588%, 

8/8/2028

978,240

Bank

of

America

Corporation

1,775,000

4.200%, 

8/26/2024

1,743,922

1,800,000

0.810%, 

10/24/2024

c

1,793,090

1,000,000

3.458%, 

3/15/2025

c

986,649

1,250,000

0.976%, 

4/22/2025

c

1,211,066

1,500,000

3.841%, 

4/25/2025

c

1,478,748

1,125,000

0.981%, 

9/25/2025

c

1,065,532

1,900,000

2.456%, 

10/22/2025

c

1,824,651

850,000

3.384%, 

4/2/2026

c

813,531

1,275,000

1.319%, 

6/19/2026

c

1,169,270

1,000,000

4.827%, 

7/22/2026

c

974,889

1,500,000

1.734%, 

7/22/2027

c

1,329,239

Bank

of

Montreal

1,000,000

1.500%, 

1/10/2025

945,249

1,100,000

5.920%, 

9/25/2025

1,097,579

Bank

of

New

York

Mellon

Corporation

700,000

4.700%, 

9/20/2025

c,h

673,792

1,000,000

4.414%, 

7/24/2026

c

971,665

Bank

of

New

Zealand

875,000

2.000%, 

2/21/2025

a

828,963

1,800,000

4.846%, 

2/7/2028

a

1,730,956

Limited

Maturity

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

186

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Financials

(31.3%)

-

continued

Bank

of

Nova

Scotia

$

1,000,000

5.250%, 

12/6/2024

$

990,801

935,000

4.900%, 

6/4/2025

c,h

855,166

Barclays

plc

1,500,000

4.375%, 

9/11/2024

1,469,754

1,600,000

1.007%, 

12/10/2024

c

1,582,579

500,000

5.829%, 

5/9/2027

c

491,040

1,100,000

6.496%, 

9/13/2027

c

1,097,082

500,000

2.279%, 

11/24/2027

c

440,533

Blackstone

Private

Credit

Fund

1,750,000

2.700%, 

1/15/2025

1,657,506

850,000

4.700%, 

3/24/2025

824,593

Blue

Owl

Capital

Corporation

750,000

4.250%, 

1/15/2026

701,653

1,000,000

3.400%, 

7/15/2026

896,562

Blue

Owl

Credit

Income

Corporation

650,000

4.700%, 

2/8/2027

591,481

Blue

Owl

Technology

Finance

Corporation

750,000

4.750%, 

12/15/2025

a

693,720

750,000

3.750%, 

6/17/2026

a

665,604

BNP

Paribas

SA

1,900,000

6.625%, 

3/25/2024

a,c,h

1,873,561

960,000

2.819%, 

11/19/2025

a,c

922,013

1,300,000

1.323%, 

1/13/2027

a,c

1,164,171

BPCE

SA

950,000

2.375%, 

1/14/2025

a

900,188

750,000

5.975%, 

1/18/2027

a,c

741,893

Canadian

Imperial

Bank

of

Commerce

1,300,000

5.144%, 

4/28/2025

1,283,048

1,250,000

3.945%, 

8/4/2025

1,206,809

1,100,000

5.926%, 

10/2/2026

f

1,099,736

Capital

One

Financial

Corporation

750,000

1.343%, 

12/6/2024

c

740,942

750,000

2.636%, 

3/3/2026

c

707,826

1,500,000

4.985%, 

7/24/2026

c

1,455,380

Centene

Corporation

2,000,000

4.250%, 

12/15/2027

1,843,820

1,200,000

4.625%, 

12/15/2029

1,080,756

Charles

Schwab

Corporation

400,000

5.375%, 

6/1/2025

c,h

384,291

1,250,000

4.000%, 

6/1/2026

c,h

1,044,008

1,100,000

5.875%, 

8/24/2026

1,096,377

Citigroup,

Inc.

2,500,000

0.776%, 

10/30/2024

c

2,488,325

1,000,000

3.290%, 

3/17/2026

c

956,981

925,000

3.106%, 

4/8/2026

c

882,741

1,150,000

1.122%, 

1/28/2027

c

1,024,786

Comerica,

Inc.

585,000

5.625%, 

7/1/2025

c,h

536,021

Cooperatieve

Rabobank

UA

1,625,000

1.339%, 

6/24/2026

a,c

1,495,272

Corebridge

Financial,

Inc.

1,000,000

3.650%, 

4/5/2027

925,727

Corporate

Office

Properties,

LP

450,000

2.250%, 

3/15/2026

405,137

Credit

Agricole

SA

1,000,000

6.875%, 

9/23/2024

a,c,g,h

975,448

750,000

1.247%, 

1/26/2027

a,c

669,883

725,000

6.316%, 

10/3/2029

a,c,f

725,084

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Financials

(31.3%)

-

continued

Credit

Suisse

Group

AG

$

990,000

7.500%, 

12/11/2023

*,c,h,i

$

94,050

Danske

Bank

AS

1,500,000

5.375%, 

1/12/2024

a

1,493,992

1,000,000

0.976%, 

9/10/2025

a,c

947,866

500,000

6.466%, 

1/9/2026

a,c

499,085

Deutsche

Bank

AG

2,700,000

4.500%, 

4/1/2025

2,597,538

2,000,000

6.000%, 

10/30/2025

c,h

1,560,981

Deutsche

Bank

AG/New

York,

NY

1,200,000

3.700%, 

5/30/2024

1,175,533

1,100,000

2.129%, 

11/24/2026

c

994,786

Discover

Bank

1,250,000

2.450%, 

9/12/2024

1,201,399

1,285,000

5.974%, 

(USISOA05

+

1.730%),

8/9/2028

c

1,175,815

Elevance

Health,

Inc.

750,000

5.350%, 

10/15/2025

745,269

Equitable

Financial

Life

Global

Funding

1,500,000

0.800%, 

8/12/2024

a

1,433,128

Fifth

Third

Bancorp

1,900,000

2.375%, 

1/28/2025

1,803,968

Fifth

Third

Bank

NA

200,000

3.850%, 

3/15/2026

184,992

First-Citizens

Bank

&

Trust

Company

1,565,000

6.125%, 

3/9/2028

1,554,437

FS

KKR

Capital

Corporation

1,100,000

4.250%, 

2/14/2025

a

1,053,244

2,000,000

3.400%, 

1/15/2026

1,832,774

GA

Global

Funding

Trust

1,200,000

1.625%, 

1/15/2026

a

1,071,117

Goldman

Sachs

Group,

Inc.

1,000,000

5.700%, 

11/1/2024

996,179

940,000

3.500%, 

4/1/2025

905,099

1,915,000

3.272%, 

9/29/2025

c

1,855,623

272,000

4.250%, 

10/21/2025

262,117

1,700,000

0.855%, 

2/12/2026

c

1,575,424

1,250,000

3.615%, 

3/15/2028

c

1,153,342

1,100,000

4.482%, 

8/23/2028

c

1,041,162

HSBC

Holdings

plc

500,000

4.250%, 

3/14/2024

495,638

500,000

2.999%, 

3/10/2026

c

476,480

1,325,000

1.645%, 

4/18/2026

c

1,231,481

1,000,000

1.589%, 

5/24/2027

c

881,753

Huntington

National

Bank

1,000,000

5.699%, 

11/18/2025

c

977,411

ING

Groep

NV

500,000

4.625%, 

1/6/2026

a

484,386

1,250,000

1.726%, 

4/1/2027

c

1,118,363

1,000,000

4.017%, 

3/28/2028

c

928,374

J.P.

Morgan

Chase

&

Company

1,500,000

6.393%, 

(TSFR3M

+

1.112%),

1/10/2025

c

1,502,730

700,000

0.563%, 

2/16/2025

c

684,347

1,500,000

0.969%, 

6/23/2025

c

1,439,524

750,000

1.561%, 

12/10/2025

c

708,811

500,000

5.546%, 

12/15/2025

c

496,514

800,000

2.005%, 

3/13/2026

c

753,338

900,000

2.083%, 

4/22/2026

c

844,745

1,000,000

3.650%, 

6/1/2026

c,h

872,838

2,500,000

1.045%, 

11/19/2026

c

2,246,774

725,000

1.040%, 

2/4/2027

c

645,217

Limited

Maturity

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

187

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Financials

(31.3%)

-

continued

$

800,000

4.851%, 

7/25/2028

c

$

771,172

KeyBank

NA/Cleveland,

OH

500,000

4.700%, 

1/26/2026

474,118

KeyCorp

550,000

3.878%, 

5/23/2025

c

530,194

Kilroy

Realty,

LP

1,800,000

4.375%, 

10/1/2025

1,723,901

Lloyds

Banking

Group

plc

925,000

7.500%, 

6/27/2024

c,h

902,454

350,000

4.582%, 

12/10/2025

334,717

550,000

5.985%, 

8/7/2027

c

545,047

1,000,000

3.750%, 

3/18/2028

c

918,308

M&T

Bank

Corporation

750,000

3.500%, 

9/1/2026

c,h

527,430

Macquarie

Group,

Ltd.

1,250,000

1.201%, 

10/14/2025

a,c

1,185,273

Manufacturers

&

Traders

Trust

Company

1,000,000

5.400%, 

11/21/2025

969,725

1,000,000

4.650%, 

1/27/2026

953,081

Met

Tower

Global

Funding

1,100,000

5.400%, 

6/20/2026

a

1,091,533

Metropolitan

Life

Global

Funding

I

1,100,000

5.400%, 

9/12/2028

a

1,087,761

Mitsubishi

UFJ

Financial

Group,

Inc.

875,000

2.193%, 

2/25/2025

829,647

2,000,000

0.953%, 

7/19/2025

c

1,916,982

800,000

5.063%, 

9/12/2025

c

791,249

Mizuho

Financial

Group

Cayman

3,

Ltd.

825,000

4.600%, 

3/27/2024

a

817,078

Morgan

Stanley

750,000

2.720%, 

7/22/2025

c

727,860

1,300,000

0.864%, 

10/21/2025

c

1,224,789

1,750,000

5.000%, 

11/24/2025

1,715,237

500,000

4.679%, 

7/17/2026

c

487,085

1,000,000

6.138%, 

10/16/2026

c

1,000,950

1,000,000

0.985%, 

12/10/2026

c

892,152

2,000,000

5.164%, 

4/20/2029

c

1,924,110

465,000

5.449%, 

7/20/2029

c

453,128

National

Bank

of

Canada

1,500,000

0.750%, 

8/6/2024

1,432,493

NatWest

Group

plc

1,500,000

4.269%, 

3/22/2025

c

1,483,934

750,000

5.847%, 

3/2/2027

c

740,224

400,000

3.754%, 

11/1/2029

c

380,857

New

York

Life

Global

Funding

1,100,000

4.900%, 

6/13/2028

a

1,069,460

Nomura

Holdings,

Inc.

1,890,000

2.648%, 

1/16/2025

1,802,999

750,000

2.329%, 

1/22/2027

659,954

Nordea

Bank

ABP

1,700,000

1.500%, 

9/30/2026

a

1,492,950

Northwestern

Mutual

Global

Funding

1,100,000

4.900%, 

6/12/2028

a

1,071,214

Omega

Healthcare

Investors,

Inc.

380,000

4.950%, 

4/1/2024

377,307

800,000

4.500%, 

1/15/2025

777,475

1,000,000

5.250%, 

1/15/2026

974,612

Peachtree

Corners

Funding

Trust

1,375,000

3.976%, 

2/15/2025

a

1,327,414

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Financials

(31.3%)

-

continued

PNC

Financial

Services

Group,

Inc.

$

750,000

5.671%, 

10/28/2025

c

$

744,211

1,500,000

3.400%, 

9/15/2026

c,h

1,109,660

1,000,000

4.758%, 

1/26/2027

c

972,087

925,000

5.582%, 

6/12/2029

c

897,355

Pricoa

Global

Funding

I

1,500,000

5.550%, 

8/28/2026

a

1,500,122

Principal

Life

Global

Funding

II

1,000,000

1.375%, 

1/10/2025

a

944,065

900,000

0.875%, 

1/12/2026

a

803,665

Realty

Income

Corporation

2,950,000

4.625%, 

11/1/2025

2,884,735

500,000

4.875%, 

6/1/2026

490,676

Regency

Centers,

LP

1,500,000

3.750%, 

6/15/2024

1,464,176

Regions

Financial

Corporation

1,285,000

2.250%, 

5/18/2025

1,198,711

Royal

Bank

of

Canada

1,475,000

4.950%, 

4/25/2025

1,453,639

1,825,000

4.875%, 

1/12/2026

1,791,055

1,100,000

5.200%, 

8/1/2028

g

1,070,640

Santander

Holdings

USA,

Inc.

350,000

3.450%, 

6/2/2025

332,885

750,000

2.490%, 

1/6/2028

c

651,208

Santander

UK

Group

Holdings

plc

925,000

1.532%, 

8/21/2026

c

838,468

Simon

Property

Group,

LP

1,250,000

3.300%, 

1/15/2026

1,186,363

Societe

Generale

SA

1,800,000

2.625%, 

10/16/2024

a

1,730,009

1,400,000

1.488%, 

12/14/2026

a,c

1,249,873

Standard

Chartered

plc

900,000

0.991%, 

1/12/2025

a,c

885,104

500,000

1.214%, 

3/23/2025

a,c

486,544

1,000,000

2.608%, 

1/12/2028

a,c

885,237

State

Street

Corporation

1,100,000

5.104%, 

5/18/2026

c

1,086,098

1,000,000

5.751%, 

11/4/2026

c

996,486

Sumitomo

Mitsui

Financial

Group,

Inc.

750,000

0.948%, 

1/12/2026

671,644

1,200,000

2.174%, 

1/14/2027

1,067,317

1,100,000

5.716%, 

9/14/2028

1,085,632

Sumitomo

Mitsui

Trust

Bank,

Ltd.

1,100,000

5.650%, 

9/14/2026

a

1,095,611

Synchrony

Financial

1,485,000

4.250%, 

8/15/2024

1,450,254

1,920,000

4.500%, 

7/23/2025

1,828,318

Synovus

Bank

1,845,000

5.625%, 

2/15/2028

1,671,702

Toronto-Dominion

Bank

1,000,000

5.103%, 

1/9/2026

g

986,618

Truist

Financial

Corporation

675,000

4.950%, 

9/1/2025

c,h

620,718

650,000

4.260%, 

7/28/2026

c

625,760

1,100,000

1.267%, 

3/2/2027

c

974,646

U.S.

Bancorp

750,000

5.727%, 

10/21/2026

c

743,761

500,000

4.548%, 

7/22/2028

c

469,653

UBS

AG

2,756,000

5.125%, 

5/15/2024

2,716,038

Limited

Maturity

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

188

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Financials

(31.3%)

-

continued

UBS

Group

AG

$

800,000

4.490%, 

8/5/2025

a,c

$

785,937

3,350,000

1.305%, 

2/2/2027

a,c

2,970,807

1,100,000

6.327%, 

12/22/2027

a,c

1,098,233

USB

Realty

Corporation

95,000

6.717%, 

(TSFR3M

+

1.409%),

1/15/2027

a,c,h

69,104

Wells

Fargo

&

Company

3,200,000

2.406%, 

10/30/2025

c

3,066,578

1,000,000

3.908%, 

4/25/2026

c

963,553

500,000

4.540%, 

8/15/2026

c

485,629

850,000

3.526%, 

3/24/2028

c

780,618

1,100,000

5.574%, 

7/25/2029

c

1,073,151

Welltower

OP,

LLC

2,000,000

3.625%, 

3/15/2024

1,977,114

Westpac

Banking

Corporation

940,000

2.894%, 

2/4/2030

c

886,107

Westpac

New

Zealand,

Ltd.

1,100,000

4.902%, 

2/15/2028

a

1,061,321

Total

242,878,182

Foreign

Government

(0.2%)

NBN

Company,

Ltd.

1,000,000

0.875%, 

10/8/2024

a

949,996

1,000,000

1.450%, 

5/5/2026

a

898,534

Total

1,848,530

Mortgage-Backed

Securities

(<0.1%)

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

55,945

3.764%, 

(RFUCCT1Y

+

1.514%),

1/1/2043

c

54,520

Total

54,520

Technology

(3.6%)

Broadcom

Corporation/Broadcom

Cayman

Finance,

Ltd.

2,000,000

3.125%, 

1/15/2025

1,928,224

Dell

International,

LLC/EMC

Corporation

1,750,000

5.850%, 

7/15/2025

1,747,667

Fidelity

National

Information

Services,

Inc.

1,200,000

0.600%, 

3/1/2024

1,172,698

Fiserv,

Inc.

2,000,000

2.750%, 

7/1/2024

1,951,850

1,100,000

5.450%, 

3/2/2028

1,090,330

Global

Payments,

Inc.

875,000

2.650%, 

2/15/2025

833,662

Hewlett

Packard

Enterprise

Company

1,475,000

5.900%, 

10/1/2024

1,473,802

Intel

Corporation

725,000

4.875%, 

2/10/2026

716,306

Jabil,

Inc.

1,000,000

4.250%, 

5/15/2027

945,688

Microchip

Technology,

Inc.

1,000,000

0.983%, 

9/1/2024

954,612

NXP

BV/NXP

Funding,

LLC/NXP

USA,

Inc.

1,342,000

2.700%, 

5/1/2025

1,274,511

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Technology

(3.6%)

-

continued

Oracle

Corporation

$

1,055,000

2.500%, 

4/1/2025

$

1,004,484

1,750,000

2.950%, 

5/15/2025

1,672,916

1,000,000

5.800%, 

11/10/2025

1,003,748

1,100,000

4.500%, 

5/6/2028

1,048,427

Panasonic

Corporation

1,000,000

2.679%, 

7/19/2024

a

973,768

Qorvo,

Inc.

2,300,000

4.375%, 

10/15/2029

2,022,705

Roper

Technologies,

Inc.

675,000

1.000%, 

9/15/2025

616,922

Seagate

HDD

Cayman

1,232,000

4.750%, 

1/1/2025

1,201,550

SK

Hynix,

Inc.

500,000

1.000%, 

1/19/2024

a

492,052

VeriSign,

Inc.

1,546,000

5.250%, 

4/1/2025

1,531,095

VMware,

Inc.

350,000

1.400%, 

8/15/2026

308,737

Western

Digital

Corporation

2,000,000

4.750%, 

2/15/2026

1,905,697

Total

27,871,451

Transportation

(1.4%)

British

Airways

plc

363,513

4.625%, 

6/20/2024

a

359,042

Canadian

Pacific

Railway

Company

1,000,000

1.350%, 

12/2/2024

948,024

Continental

Airlines,

Inc.

1,650,391

4.150%, 

4/11/2024

1,627,997

Delta

Air

Lines,

Inc.

1,000,000

7.000%, 

5/1/2025

a

1,010,856

Delta

Air

Lines,

Inc./SkyMiles

IP,

Ltd.

1,612,500

4.500%, 

10/20/2025

a

1,566,218

Mileage

Plus

Holdings,

LLC

750,000

6.500%, 

6/20/2027

a

743,101

Penske

Truck

Leasing

Company,

LP/PTL

Finance

Corporation

1,000,000

2.700%, 

11/1/2024

a

962,636

1,000,000

3.950%, 

3/10/2025

a

965,191

800,000

1.200%, 

11/15/2025

a

719,627

Southwest

Airlines

Company

350,000

5.250%, 

5/4/2025

345,939

TTX

Company

1,500,000

5.500%, 

9/25/2026

a

1,496,148

Total

10,744,779

U.S.

Government

&

Agencies

(7.8%)

U.S.

Treasury

Notes

2,070,000

4.250%, 

5/31/2025

2,039,274

45,525,000

3.500%, 

1/31/2028

43,446,144

8,500,000

4.000%, 

10/31/2029

8,206,816

6,900,000

3.500%, 

2/15/2033

6,330,750

Total

60,022,984

Utilities

(4.4%)

AES

Corporation

1,700,000

3.300%, 

7/15/2025

a

1,610,200

Alexander

Funding

Trust

2,500,000

1.841%, 

11/15/2023

a

2,483,473

Limited

Maturity

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

189

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Utilities

(4.4%)

-

continued

Ameren

Corporation

$

250,000

2.500%, 

9/15/2024

$

241,796

American

Electric

Power

Company,

Inc.

2,000,000

5.699%, 

8/15/2025

1,989,749

1,075,000

1.000%, 

11/1/2025

974,108

Berkshire

Hathaway

Energy

Company

575,000

4.050%, 

4/15/2025

560,116

CenterPoint

Energy,

Inc.

900,000

5.250%, 

8/10/2026

888,424

Constellation

Energy

Generation,

LLC

1,100,000

5.600%, 

3/1/2028

1,092,528

Dominion

Energy,

Inc.

1,650,000

1.450%, 

4/15/2026

1,484,487

DTE

Energy

Company

750,000

2.529%, 

10/1/2024

723,588

750,000

4.220%, 

11/1/2024

736,016

Duke

Energy

Corporation

500,000

3.250%, 

1/15/2082

c

368,375

915,000

0.900%, 

9/15/2025

832,207

1,350,000

5.000%, 

12/8/2025

1,331,038

Enel

Finance

International

NV

1,000,000

6.800%, 

10/14/2025

a

1,011,640

Entergy

Corporation

870,000

0.900%, 

9/15/2025

789,897

Eversource

Energy

925,000

4.750%, 

5/15/2026

904,216

1,100,000

5.450%, 

3/1/2028

1,087,255

Exelon

Corporation

725,000

5.150%, 

3/15/2028

711,489

Georgia

Power

Company

1,100,000

4.650%, 

5/16/2028

1,061,208

Jersey

Central

Power

&

Light

Company

1,500,000

4.300%, 

1/15/2026

a

1,445,366

National

Rural

Utilities

Cooperative

Finance

Corporation

1,100,000

4.800%, 

3/15/2028

1,072,641

862,000

8.541%, 

(TSFR3M

+

3.172%),

4/30/2043

c

846,921

NextEra

Energy

Capital

Holdings,

Inc.

1,000,000

5.749%, 

9/1/2025

997,192

NiSource,

Inc.

920,000

0.950%, 

8/15/2025

839,044

Public

Service

Enterprise

Group,

Inc.

1,000,000

2.875%, 

6/15/2024

977,598

Sempra

1,750,000

3.300%, 

4/1/2025

1,682,174

Southern

California

Edison

Company

1,000,000

1.100%, 

4/1/2024

976,701

Southern

Company

900,000

4.000%, 

1/15/2051

c

832,484

750,000

3.750%, 

9/15/2051

c

654,148

Vistra

Operations

Company,

LLC

2,000,000

5.125%, 

5/13/2025

a

1,948,845

Principal

Amount

Long-Term

Fixed

Income

(98.6%)

Value

Utilities

(4.4%)

-

continued

WEC

Energy

Group,

Inc.

$

1,100,000

5.600%, 

9/12/2026

$

1,099,819

Total

34,254,743

Total

Long-Term

Fixed

Income

(cost

$802,871,619)

764,192,370

Shares

Collateral

Held

for

Securities

Loaned

(

0

.6

%

)

Value

4,285,375

Thrivent

Cash

Management

Trust

4,285,375

Total

Collateral

Held

for

Securities

Loaned

(cost

$4,285,375)

4,285,375

Shares

Preferred

Stock

(

0

.2

%

)

Value

Financials

(0.2%)

66,000

Citigroup

Capital

XIII,

12.001%

c

1,935,780

Total

1,935,780

Total

Preferred

Stock

(cost

$1,821,600)

1,935,780

Shares

or

Principal

Amount

Short-Term

Investments

(

0

.7

%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

5,605,000

5.179%,

10/2/2023

j

5,605,000

Total

Short-Term

Investments

(cost

$5,603,388)

5,605,000

Total

Investments

(cost

$814,581,982)

100.1%

$

776,018,525

Other

Assets

and

Liabilities,

Net

(0.1%)

(

1,095,168

)

Total

Net

Assets

100.0%

$

774,923,357

a

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$313,049,340

or

40.4%

of

total

net

assets.

b

Denotes

step

coupon

securities.

Step

coupon

securities

pay

an

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

is

as

of

September

29,

2023.

c

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

September

29,

2023.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

d

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

e

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

f

Denotes

investments

purchased

on

a

when-issued

or

delayed-delivery

basis.

g

All

or

a

portion

of

the

security

is

on

loan.

Limited

Maturity

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

190

h

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

i

Defaulted

security.  Interest

is

not

being

accrued.

j

The

interest

rate

shown

reflects

the

yield.

*

Denotes

restricted

securities.

Restricted

securities

are

investment

securities

which

cannot

be

offered

for

public

sale

without

first

being

registered

under

the

Securities

Act

of

1933.

The

value

of

all

restricted

securities

held

in

Limited

Maturity

Bond

Portfolio

as

of

September

29,

2023

was

$94,050

or

0.01%

of

total

net

assets.

The

following

table

indicates

the

acquisition

date

and

cost

of

restricted

securities

shown

in

the

schedule

as

of

September

29,

2023.

Security

Acquisition

Date

Cost

Credit

Suisse

Group

AG,

12/29/2049

12/4/2013

$

990,000

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Limited

Maturity

Bond

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

4,149,663

Total

lending

$4,149,663

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$4,285,375

Net

amounts

due

to

counterparty

$135,712

Definitions:

CLO

-

Collateralized

Loan

Obligation

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

plc

-

Public

Limited

Company

Ser.

-

Series

Reference

Rate

Index:

CMT

1Y

-

Constant

Maturity

Treasury

Yield

1

Year

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

RFUCCT1Y

-

Refinitiv

USD

IBOR

Consumer

Cash

Fallbacks

Term

1

Year

SOFR30A

-

Secured

Overnight

Financing

Rate

30

Year

Average

TSFR1M

-

CME

Term

SOFR

1

Month

TSFR3M

-

CME

Term

SOFR

3

Month

USISOA05

-

USD

SOFR

Spread-Adjusted

ICE

Swap

Rate

5

Year

Limited

Maturity

Bond

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

191

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Limited

Maturity

Bond

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Long-Term

Fixed

Income

Asset-Backed

Securities

136,545,583

–

134,045,583

2,500,000

Basic

Materials

11,770,851

–

11,770,851

–

Capital

Goods

17,160,745

–

17,160,745

–

Collateralized

Mortgage

Obligations

70,792,784

–

70,792,784

–

Commercial

Mortgage-Backed

Securities

5,865,874

–

5,865,874

–

Communications

Services

25,964,928

–

25,964,928

–

Consumer

Cyclical

42,255,482

–

42,255,482

–

Consumer

Non-Cyclical

41,193,461

–

41,193,461

–

Energy

34,967,473

–

34,967,473

–

Financials

242,878,182

–

242,878,182

–

Foreign

Government

1,848,530

–

1,848,530

–

Mortgage-Backed

Securities

54,520

–

54,520

–

Technology

27,871,451

–

27,871,451

–

Transportation

10,744,779

–

10,744,779

–

U.S.

Government

&

Agencies

60,022,984

–

60,022,984

–

Utilities

34,254,743

–

34,254,743

–

Preferred

Stock

Financials

1,935,780

1,935,780

–

–

Short-Term

Investments

5,605,000

–

5,605,000

–

Subtotal

Investments

in

Securities

$

771,733,150

$

1,935,780

$

767,297,370

$

2,500,000

Other

Investments  *

Total

Collateral

Held

for

Securities

Loaned

4,285,375

Subtotal

Other

Investments

$

4,285,375

Total

Investments

at

Value

$

776,018,525

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

for

the

Portfolio.

Thrivent

Cash

Management

Trust

is

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Limited

Maturity

Bond

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

$

2,812

$

29,413

$

27,940

$

4,285

4,285

0.6%

Total

Collateral

Held

for

Securities

Loaned

2,812

4,285

0.6

Total

Value

$

2,812

$

4,285

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

$–

$

–

$

35

Total

Affiliated

Income

from

Securities

Loaned,

Net

$

35

Total

Value

$–

$–

$

–

Low

Volatility

Equity

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

192

Shares

Common

Stock

(

98.1%

)

Value

Communications

Services

(11.1%)

234

Alphabet,

Inc.,

Class

C

a

$

30,853

24,145

AT&T,

Inc.

362,658

8,465

BCE,

Inc.

323,144

219,000

CITIC

Telecom

International

Holdings,

Ltd.

86,597

9,688

Comcast

Corporation

429,566

20,475

Deutsche

Telekom

AG

429,500

5,400

KDDI

Corporation

165,297

10,141

Koninklijke

(Royal)

KPN

NV

33,411

15,400

Nintendo

Company,

Ltd.

639,916

71,600

Nippon

Television

Holdings,

Inc.

723,959

7,600

SKY

Perfect

JSAT

Holdings,

Inc.

35,538

37,000

SoftBank

Corporation

418,777

872

Swisscom

AG

517,785

46,842

Telefonica

Deutschland

Holding

AG

83,780

44,736

Telefonica

SA

182,762

30,969

Verizon

Communications,

Inc.

1,003,705

Total

5,467,248

Consumer

Discretionary

(4.5%)

144

Bayerische

Motoren

Werke

AG

14,626

1,340

Compass

Group

plc

32,618

28,714

Europris

ASA

b

160,076

22,200

Heiwa

Corporation

318,609

2,197

McDonald's

Corporation

578,778

5,900

McDonald's

Holdings

Company

(Japan),

Ltd.

225,435

574

O'Reilly

Automotive,

Inc.

a

521,686

12,900

Sekisui

House,

Ltd.

256,728

235

Ulta

Beauty,

Inc.

a

93,871

Total

2,202,427

Consumer

Staples

(13.5%)

1,160

Church

&

Dwight

Company,

Inc.

106,291

936

Clorox

Company

122,672

10,871

Coca-Cola

Company

608,559

1,551

Coles

Group,

Ltd.

15,480

11,571

Colgate-Palmolive

Company

822,814

18,922

Hormel

Foods

Corporation

719,604

2,905

J.M.

Smucker

Company

357,053

3,500

Japan

Tobacco,

Inc.

80,528

5,934

Kimberly-Clark

Corporation

717,124

13,639

Koninklijke

Ahold

Delhaize

NV

411,075

1,624

Kroger

Company

72,674

3

Lindt

&

Spruengli

AG

33,338

559

Loblaw

Companies,

Ltd.

47,494

11,497

Metro,

Inc./CN

597,091

9,903

Mondelez

International,

Inc.

687,268

42

Nestle

SA

4,754

4,023

PepsiCo,

Inc.

681,657

2,433

Procter

&

Gamble

Company

354,877

197,700

Sheng

Siong

Group,

Ltd.

219,705

Total

6,660,058

Energy

(2.5%)

150,500

Eneos

Holdings,

Inc.

592,389

15,229

Equinor

ASA

499,085

8,650

Galp

Energia

SGPS

SA

128,125

537

Repsol

SA

8,833

Total

1,228,432

Financials

(12.1%)

587

Aon

plc

190,317

601

Bank

Leumi

Le-Israel

BM

4,980

Shares

Common

Stock

(98.1%)

Value

Financials

(12.1%)

-

continued

1,225

Berkshire

Hathaway,

Inc.

a

$

429,118

245,000

BOC

Hong

Kong

(Holdings),

Ltd.

668,818

3,772

Cboe

Global

Markets,

Inc.

589,224

269

Chubb,

Ltd.

56,000

2,390

Cincinnati

Financial

Corporation

244,473

3,534

CME

Group,

Inc.

707,577

818

Deutsche

Boerse

AG

141,266

6,321

First

Horizon

Corporation

69,657

5,992

Hartford

Financial

Services

Group,

Inc.

424,893

2,493

Heritage

Financial

Corporation

40,661

1,750

Intercontinental

Exchange,

Inc.

192,535

33,900

Japan

Post

Bank

Company,

Ltd.

294,993

1,615

Marsh

&

McLennan

Companies,

Inc.

307,335

896

Mastercard,

Inc.

354,735

19,700

Matsui

Securities

Company,

Ltd.

108,223

100,827

Medibank

Private,

Ltd.

222,539

53,700

Mitsubishi

HC

Capital,

Inc.

357,807

10,388

Power

Corporation

of

Canada

264,470

1,580

Toronto-Dominion

Bank

95,190

953

Visa,

Inc.

219,200

Total

5,984,011

Health

Care

(20.6%)

341

Abbott

Laboratories

33,026

3,890

AbbVie,

Inc.

579,843

1,330

Agilent

Technologies,

Inc.

148,721

995

Amgen,

Inc.

267,416

110

Biogen,

Inc.

a

28,271

2,685

Boston

Scientific

Corporation

a

141,768

5,835

Centene

Corporation

a

401,915

933

CSL,

Ltd.

150,309

593

Eli

Lilly

&

Company

318,518

7,763

Galenica

AG

b

573,497

13,197

Gilead

Sciences,

Inc.

988,983

6,231

GSK

plc

112,743

281

Humana,

Inc.

136,712

1,009

Incyte

Corporation

a

58,290

7,839

Johnson

&

Johnson

1,220,924

2,700

Kaken

Pharmaceutical

Company,

Ltd.

63,136

527

Laboratorios

Farmaceuticos

ROVI

SA

28,524

1,250

Medtronic

plc

97,950

9,371

Merck

&

Company,

Inc.

964,744

1,593

Novartis

AG

162,691

9,244

Novo

Nordisk

AS

841,678

7,239

Pfizer,

Inc.

240,118

171

QIAGEN

NV

a

6,900

953

Quest

Diagnostics,

Inc.

116,132

275

Regeneron

Pharmaceuticals,

Inc.

a

226,314

2,559

Roche

Holding

AG,

Participation

Certificates

698,610

6,323

Sanofi

678,934

498

UnitedHealth

Group,

Inc.

251,087

1,717

Vertex

Pharmaceuticals,

Inc.

a

597,070

Total

10,134,824

Industrials

(10.1%)

2,567

AMETEK,

Inc.

379,300

1,035

Automatic

Data

Processing,

Inc.

249,000

399

BAE

Systems

plc

4,849

6,600

BellSystem24

Holdings,

Inc.

69,738

11,691

Brambles,

Ltd.

107,400

Low

Volatility

Equity

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

193

Shares

Common

Stock

(98.1%)

Value

Industrials

(10.1%)

-

continued

18,019

Cia

de

Distribucion

Integral

Logista

Holdings

SA

$

460,473

5,340

Computershare,

Ltd.

88,989

3,200

COMSYS

Holdings

Corporation

66,904

10,268

CSX

Corporation

315,741

22

Cummins,

Inc.

5,026

1,075

Eiffage

SA

102,036

3,548

Expeditors

International

of

Washington,

Inc.

406,707

1,168

Fastenal

Company

63,819

1,009

Honeywell

International,

Inc.

186,403

800

Jardine

Matheson

Holdings,

Ltd.

37,136

883

Lockheed

Martin

Corporation

361,112

11,300

Nikkon

Holdings

Company,

Ltd.

238,787

493

Paychex,

Inc.

56,858

2,190

Republic

Services,

Inc.

312,097

124

Schindler

Holding

AG,

Participation

Certificates

24,701

1,466

Thales

SA

206,036

1,995

Thomson

Reuters

Corporation

244,056

214

W.W.

Grainger,

Inc.

148,054

4,233

Waste

Management,

Inc.

645,279

1,751

Wolters

Kluwer

NV

212,003

Total

4,992,504

Information

Technology

(14.2%)

596

Accenture

plc

183,038

6,075

Akamai

Technologies,

Inc.

a

647,230

4,700

Amano

Corporation

103,153

595

Apple,

Inc.

101,870

838

Cadence

Design

Systems,

Inc.

a

196,343

3,300

Canon,

Inc.

79,492

1,687

Check

Point

Software

Technologies,

Ltd.

a

224,843

25,325

Cisco

Systems,

Inc.

1,361,472

869

F5,

Inc.

a

140,031

6,799

Hewlett

Packard

Enterprise

Company

118,099

4,126

Juniper

Networks,

Inc.

114,662

3,961

Keysight

Technologies,

Inc.

a

524,080

7,700

Kyocera

Corporation

390,373

2,192

Microsoft

Corporation

692,124

997

Motorola

Solutions,

Inc.

271,423

19,900

NEC

Networks

&

System

Integration

Corporation

261,293

44

Roper

Industries,

Inc.

21,308

3,083

TE

Connectivity,

Ltd.

380,843

3,313

Texas

Instruments,

Inc.

526,800

9,800

Venture

Corporation,

Ltd.

88,487

2,720

VeriSign,

Inc.

a

550,882

Total

6,977,846

Materials

(2.1%)

3,136

Franco-Nevada

Corporation

418,625

1,074

Heidelberg

Materials

AG

83,182

2,888

Holcim

AG

184,858

9,209

Newmont

Corporation

340,272

Total

1,026,937

Real

Estate

(0.3%)

181

Public

Storage

47,697

7,500

Swire

Pacific,

Ltd.

50,516

370

Swiss

Prime

Site

AG

33,873

Total

132,086

Shares

Common

Stock

(98.1%)

Value

Utilities

(7.1%)

7,953

American

Electric

Power

Company,

Inc.

$

598,225

7,709

ATCO,

Ltd.

195,244

1,000

CLP

Holdings,

Ltd.

7,384

1,003

Dominion

Energy,

Inc.

44,804

9,265

Duke

Energy

Corporation

817,729

2,693

E.ON

SE

31,847

2,704

Edison

International

171,136

9,900

Electric

Power

Development

Company,

Ltd.

159,860

9,968

Evergy,

Inc.

505,378

3,196

Fortis,

Inc.

121,393

30,000

Hong

Kong

and

China

Gas

Company,

Ltd.

20,874

77,942

Italgas

SPA

398,769

16,490

NiSource,

Inc.

406,973

162

Pinnacle

West

Capital

Corporation

11,936

851

Portland

General

Electric

Company

34,448

Total

3,526,000

Total

Common

Stock

(cost

$46,319,450)

48,332,373

Shares

Short-Term

Investments

(

1.6%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

77,830

5.650%

778,300

Total

Short-Term

Investments

(cost

$778,300)

778,300

Total

Investments

(cost

$47,097,750)

99.7%

$49,110,673

Other

Assets

and

Liabilities,

Net

0.3%

129,693

Total

Net

Assets

100.0%

$49,240,366

a

Non-income

producing

security.

b

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$733,573

or

1.5%

of

total

net

assets.

Definitions:

plc

-

Public

Limited

Company

Low

Volatility

Equity

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

194

Reference

Description:

MSCI

-

Morgan

Stanley

Capital

International

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Low

Volatility

Equity

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

5,467,248

1,826,782

3,640,466

–

Consumer

Discretionary

2,202,427

1,194,335

1,008,092

–

Consumer

Staples

6,660,058

5,250,593

1,409,465

–

Energy

1,228,432

–

1,228,432

–

Financials

5,984,011

3,825,725

2,158,286

–

Health

Care

10,134,824

6,817,802

3,317,022

–

Industrials

4,992,504

3,129,396

1,863,108

–

Information

Technology

6,977,846

6,055,048

922,798

–

Materials

1,026,937

758,897

268,040

–

Real

Estate

132,086

47,697

84,389

–

Utilities

3,526,000

2,590,629

935,371

–

Subtotal

Investments

in

Securities

$48,332,373

$31,496,904

$16,835,469

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

778,300

Subtotal

Other

Investments

$778,300

Total

Investments

at

Value

$49,110,673

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Low

Volatility

Equity

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Liability

Derivatives

Futures

Contracts

15,582

15,582

–

–

Total

Liability

Derivatives

$15,582

$15,582

$–

$–

The

following

table

presents

Low

Volatility

Equity

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$93,963

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Amount

Value

and

Unrealized

Eurex

MSCI

World

Index

7

December

2023

$

646,912

(

$

15,582)

Total

Futures

Long

Contracts

$

646,912

(

$

15,582)

Total

Futures

Contracts

$

646,912

($15,582)

Low

Volatility

Equity

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

195

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Low

Volatility

Equity

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$274

$7,091

$6,587

$778

78

1.6%

Total

Affiliated

Short-Term

Investments

274

778

1.6

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

1,865

1,865

–

–

–

Total

Collateral

Held

for

Securities

Loaned

–

–

–

Total

Value

$274

$778

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$23

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$23

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

4

Total

Affiliated

Income

from

Securities

Loaned,

Net

$4

Total

Value

$–

$–

$

–

Mid

Cap

Growth

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

196

Shares

Common

Stock

(

95

.0

%

)

Value

Communications

Services

(2.2%)

11,605

Trade

Desk,

Inc.

a

$

906,931

9,575

Ziff

Davis,

Inc.

a

609,831

Total

1,516,762

Consumer

Discretionary

(12.1%)

9,946

Aptiv

plc

a

980,576

719

Chipotle

Mexican

Grill,

Inc.

a

1,317,086

1,860

Deckers

Outdoor

Corporation

a

956,207

6,959

Five

Below,

Inc.

a

1,119,703

9,261

Fox

Factory

Holding

Corporation

a

917,580

2,086

Lululemon

Athletica,

Inc.

a

804,383

159

NVR,

Inc.

a

948,165

2,428

Pool

Corporation

864,611

8,495

Wyndham

Hotels

&

Resorts,

Inc.

590,742

Total

8,499,053

Consumer

Staples

(3.8%)

3,806

Casey's

General

Stores,

Inc.

1,033,405

5,200

Celsius

Holdings,

Inc.

a

892,320

4,403

Lancaster

Colony

Corporation

726,627

Total

2,652,352

Energy

(2.2%)

8,901

Matador

Resources

Company

529,432

50,524

TechnipFMC

plc

1,027,658

Total

1,557,090

Financials

(9.4%)

5,015

Arthur

J.

Gallagher

&

Company

1,143,069

3,280

Houlihan

Lokey,

Inc.

351,354

4,766

Kinsale

Capital

Group,

Inc.

1,973,743

2,580

MSCI,

Inc.

1,323,746

10,658

PayPal

Holdings,

Inc.

a

623,067

9,857

Tradeweb

Markets,

Inc.

790,531

9,778

Western

Alliance

Bancorp

449,495

Total

6,655,005

Health

Care

(17.8%)

4,700

Apellis

Pharmaceuticals,

Inc.

a

178,788

2,016

Argenx

SE

ADR

a

991,126

3,286

Ascendis

Pharma

AS

ADR

a

307,701

30,816

Avantor,

Inc.

a

649,601

16,176

Bio-Techne

Corporation

1,101,100

2,595

Cooper

Companies,

Inc.

825,236

9,890

Dexcom,

Inc.

a

922,737

11,327

Edwards

Lifesciences

Corporation

a

784,735

2,762

ICON

plc

a

680,142

6,080

Immunocore

Holdings

plc

ADR

a

315,552

50,430

Maravai

LifeSciences

Holdings,

Inc.

a

504,300

23,294

Progyny,

Inc.

a

792,462

44,234

R1

RCM,

Inc.

a

666,606

3,880

Repligen

Corporation

a

616,959

3,251

Sarepta

Therapeutics,

Inc.

a

394,086

4,280

ShockWave

Medical,

Inc.

a

852,148

6,004

Veeva

Systems,

Inc.

a

1,221,514

4,423

Zoetis,

Inc.

769,514

Total

12,574,307

Industrials

(16.2%)

8,762

Advanced

Drainage

Systems,

Inc.

997,378

8,746

ASGN,

Inc.

a

714,373

3,209

Carlisle

Companies,

Inc.

831,965

4,079

Chart

Industries,

Inc.

a

689,841

Shares

Common

Stock

(95.0%)

Value

Industrials

(16.2%)

-

continued

22,322

ExlService

Holdings,

Inc.

a

$

625,909

42,369

Howmet

Aerospace,

Inc.

1,959,566

5,800

Middleby

Corporation

a

742,400

2,482

Old

Dominion

Freight

Line,

Inc.

1,015,486

10,931

RB

Global,

Inc.

683,188

6,645

Regal

Rexnord

Corporation

949,438

1,045

Saia,

Inc.

a

416,589

14,401

TransUnion

1,033,848

18,236

WillScot

Mobile

Mini

Holdings

Corporation

a

758,435

Total

11,418,416

Information

Technology

(26.2%)

11,673

Amphenol

Corporation

980,415

5,346

Arista

Networks,

Inc.

a

983,290

20,313

Calix,

Inc.

a

931,148

17,169

Cognex

Corporation

728,652

19,302

Dynatrace

Holdings,

LLC

a

901,983

8,173

Entegris,

Inc.

767,526

2,542

EPAM

Systems,

Inc.

a

649,964

6,330

Five9,

Inc.

a

407,019

9,933

Guidewire

Software,

Inc.

a

893,970

1,850

HubSpot,

Inc.

a

911,125

1,069

Lam

Research

Corporation

670,017

9,949

Lattice

Semiconductor

Corporation

a

854,918

2,054

Monolithic

Power

Systems,

Inc.

948,948

7,440

Palo

Alto

Networks,

Inc.

a

1,744,234

8,580

PTC,

Inc.

a

1,215,614

21,322

Sprout

Social,

Inc.

a

1,063,541

3,685

Synopsys,

Inc.

a

1,691,304

3,396

Tyler

Technologies,

Inc.

a

1,311,331

2,648

Universal

Display

Corporation

415,710

10,905

Wolfspeed,

Inc.

a

415,481

Total

18,486,190

Materials

(2.7%)

1,896

Martin

Marietta

Materials,

Inc.

778,270

12,243

RPM

International,

Inc.

1,160,759

Total

1,939,029

Real

Estate

(2.4%)

7,424

CBRE

Group,

Inc.

a

548,336

8,104

Regency

Centers

Corporation

481,702

3,323

SBA

Communications

Corporation

665,165

Total

1,695,203

Total

Common

Stock

(cost

$61,259,028)

66,993,407

Shares

Registered

Investment

Companies

(

1

.9

%

)

Value

U.S.

Unaffiliated  (1.9%)

9,161

Communication

Services

Select

Sector

SPDR

Fund

600,687

7,268

SPDR

S&P

Biotech

ETF

b

530,709

1,416

SPDR

S&P

Oil

&

Gas

Exploration

ETF

209,441

Total

1,340,837

Total

Registered

Investment

Companies

(cost

$1,238,825)

1,340,837

Mid

Cap

Growth

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

197

Shares

Collateral

Held

for

Securities

Loaned

(

0

.4

%

)

Value

293,475

Thrivent

Cash

Management

Trust

$

293,475

Total

Collateral

Held

for

Securities

Loaned

(cost

$293,475)

293,475

Shares

Short-Term

Investments

(

2

.9

%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

201,786

5.650%

2,017,863

Total

Short-Term

Investments

(cost

$2,017,863)

2,017,863

Total

Investments

(cost

$64,809,191)

100.2%

$

70,645,582

Other

Assets

and

Liabilities,

Net

(0.2%)

(

112,282

)

Total

Net

Assets

100.0%

$

70,533,300

a

Non-income

producing

security.

b

All

or

a

portion

of

the

security

is

on

loan.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Mid

Cap

Growth

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Common

Stock

$

284,778

Total

lending

$284,778

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$293,475

Net

amounts

due

to

counterparty

$8,697

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

ETF

-

Exchange

Traded

Fund

plc

-

Public

Limited

Company

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Mid

Cap

Growth

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

1,516,762

1,516,762

–

–

Consumer

Discretionary

8,499,053

8,499,053

–

–

Consumer

Staples

2,652,352

2,652,352

–

–

Energy

1,557,090

1,557,090

–

–

Financials

6,655,005

6,655,005

–

–

Health

Care

12,574,307

12,574,307

–

–

Industrials

11,418,416

11,418,416

–

–

Information

Technology

18,486,190

18,486,190

–

–

Materials

1,939,029

1,939,029

–

–

Real

Estate

1,695,203

1,695,203

–

–

Registered

Investment

Companies

U.S.

Unaffiliated

1,340,837

1,340,837

–

–

Subtotal

Investments

in

Securities

$

68,334,244

$

68,334,244

$

–

$

–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

2,017,863

Collateral

Held

for

Securities

Loaned

293,475

Subtotal

Other

Investments

$

2,311,338

Total

Investments

at

Value

$

70,645,582

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Mid

Cap

Growth

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

198

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Mid

Cap

Growth

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$

2,063

$

17,028

$

17,073

$

2,018

202

2.9%

Total

Affiliated

Short-Term

Investments

2,063

2,018

2.9

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

14,905

14,612

293

293

0.4

Total

Collateral

Held

for

Securities

Loaned

–

293

0.4

Total

Value

$

2,063

$

2,311

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$

59

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$

59

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

5

Total

Affiliated

Income

from

Securities

Loaned,

Net

$

5

Total

Value

$–

$–

$

–

Mid

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

199

Shares

Common

Stock

(

98.5%

)

Value

Communications

Services

(1.7%)

1,140

Cable

One,

Inc.

$

701,829

55,383

Frontier

Communications

Parent,

Inc.

a

866,744

31,312

Iridium

Communications,

Inc.

1,424,383

40,954

New

York

Times

Company

1,687,305

8,345

Nexstar

Media

Group,

Inc.

1,196,423

50,460

TEGNA,

Inc.

735,202

13,112

TKO

Group

Holdings,

Inc.

1,102,195

11,639

Ziff

Davis,

Inc.

a

741,288

76,399

ZoomInfo

Technologies,

Inc.

a

1,252,943

Total

9,708,312

Consumer

Discretionary

(14.3%)

23,451

Adient

plc

a

860,652

65,365

Aramark

2,268,166

19,026

Autoliv,

Inc.

1,835,629

6,728

AutoNation,

Inc.

a

1,018,619

17,780

Boyd

Gaming

Corporation

1,081,558

17,486

Brunswick

Corporation

1,381,394

29,062

Capri

Holdings,

Ltd.

a

1,528,952

9,329

Carter's,

Inc.

645,100

6,304

Choice

Hotels

International,

Inc.

b

772,303

17,059

Churchill

Downs,

Inc.

a

1,979,526

8,753

Columbia

Sportswear

Company

648,597

15,435

Crocs,

Inc.

a

1,361,830

6,544

Deckers

Outdoor

Corporation

a

3,364,205

15,690

Dick's

Sporting

Goods,

Inc.

1,703,620

13,938

Five

Below,

Inc.

a

2,242,624

10,609

Fox

Factory

Holding

Corporation

a

1,051,140

67,151

GameStop

Corporation

a,b

1,105,306

53,452

Gap,

Inc.

568,195

58,451

Gentex

Corporation

1,901,996

70,981

Goodyear

Tire

&

Rubber

Company

a

882,294

923

Graham

Holdings

Company

538,109

7,467

Grand

Canyon

Education,

Inc.

a

872,743

38,131

H&R

Block,

Inc.

1,641,921

32,284

Harley-Davidson,

Inc.

1,067,309

6,034

Helen

of

Troy,

Ltd.

a

703,323

18,186

Hilton

Grand

Vacations,

Inc.

a

740,170

19,458

KB

Home

900,516

27,691

Kohl's

Corporation

580,403

14,710

Lear

Corporation

1,974,082

33,351

Leggett

&

Platt,

Inc.

847,449

22,815

Light

and

Wonder,

Inc.

a

1,627,394

6,901

Lithia

Motors,

Inc.

2,038,072

68,240

Macy's,

Inc.

792,267

8,492

Marriott

Vacations

Worldwide

Corporation

854,550

88,674

Mattel,

Inc.

a

1,953,488

4,888

Murphy

USA,

Inc.

1,670,376

24,262

Nordstrom,

Inc.

b

362,474

15,474

Ollie's

Bargain

Outlet

Holdings,

Inc.

a

1,194,283

37,819

PENN

Entertainment,

Inc.

a

867,946

4,887

Penske

Automotive

Group,

Inc.

816,422

21,173

Planet

Fitness,

Inc.

a

1,041,288

13,343

Polaris,

Inc.

1,389,540

15,704

PVH

Corporation

1,201,513

3,869

RH

a

1,022,809

37,774

Service

Corporation

International

2,158,406

33,645

Skechers

USA,

Inc.

a

1,646,923

27,405

Taylor

Morrison

Home

Corporation

a

1,167,727

43,107

Tempur

Sealy

International,

Inc.

1,868,257

16,713

Texas

Roadhouse,

Inc.

1,606,119

Shares

Common

Stock

(98.5%)

Value

Consumer

Discretionary

(14.3%)

-

continued

13,348

Thor

Industries,

Inc.

$

1,269,795

27,378

Toll

Brothers,

Inc.

2,024,877

7,952

TopBuild

Corporation

a

2,000,723

35,785

Topgolf

Callaway

Brands

Corporation

a

495,265

18,510

Travel

+

Leisure

Company

679,872

47,250

Under

Armour,

Inc.,

Class

A

a

323,663

50,070

Under

Armour,

Inc.,

Class

C

a

319,447

9,654

Vail

Resorts,

Inc.

2,142,126

34,720

Valvoline,

Inc.

1,119,373

7,061

Visteon

Corporation

a

974,912

42,447

Wendy's

Company

866,343

16,081

Williams-Sonoma,

Inc.

2,498,988

7,506

Wingstop,

Inc.

1,349,879

21,097

Wyndham

Hotels

&

Resorts,

Inc.

1,467,085

21,718

YETI

Holdings,

Inc.

a

1,047,242

Total

81,927,175

Consumer

Staples

(4.2%)

32,913

BellRing

Brands,

Inc.

a

1,357,003

33,645

BJ's

Wholesale

Club

Holdings,

Inc.

a

2,401,244

2,367

Boston

Beer

Company,

Inc.

a

922,018

9,362

Casey's

General

Stores,

Inc.

2,541,970

12,322

Celsius

Holdings,

Inc.

a

2,114,455

1,174

Coca-Cola

Consolidated,

Inc.

747,040

89,684

Coty,

Inc.

a

983,833

39,935

Darling

Ingredients,

Inc.

a

2,084,607

48,151

Flowers

Foods,

Inc.

1,067,989

24,733

Grocery

Outlet

Holding

Corporation

a

713,547

16,561

Ingredion,

Inc.

1,629,602

5,100

Lancaster

Colony

Corporation

841,653

39,098

Performance

Food

Group

Company

a

2,301,308

10,079

Pilgrim's

Pride

Corporation

a

230,104

12,723

Post

Holdings,

Inc.

a

1,090,870

25,542

Sprouts

Farmers

Markets,

Inc.

a

1,093,198

56,877

US

Foods

Holding

Corporation

a

2,258,017

Total

24,378,458

Energy

(5.8%)

85,277

Antero

Midstream

Corporation

1,021,618

70,701

Antero

Resources

Corporation

a

1,794,391

49,223

ChampionX

Corporation

1,753,323

28,170

Chesapeake

Energy

Corporation

2,429,099

10,399

Chord

Energy

Corporation

1,685,366

21,364

Civitas

Resources,

Inc.

1,727,707

40,430

CNX

Resources

Corporation

a

912,909

24,264

DT

Midstream,

Inc.

1,284,051

108,485

Equitrans

Midstream

Corporation

1,016,504

36,419

HF

Sinclair

Corporation

2,073,334

27,745

Matador

Resources

Company

1,650,273

37,145

Murphy

Oil

Corporation

1,684,526

98,599

NOV,

Inc.

2,060,719

63,539

Ovintiv,

Inc.

3,022,550

27,543

PBF

Energy,

Inc.

1,474,377

69,528

Permian

Resources

Corporation

970,611

60,433

Range

Resources

Corporation

1,958,634

275,799

Southwestern

Energy

Company

a

1,778,904

15,932

Valaris,

Ltd.

a

1,194,581

18,047

Weatherford

International

plc

a

1,630,185

Total

33,123,662

Mid

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

200

Shares

Common

Stock

(98.5%)

Value

Financials

(14.6%)

8,776

Affiliated

Managers

Group,

Inc.

$

1,143,864

67,971

Ally

Financial,

Inc.

1,813,466

16,574

American

Financial

Group,

Inc.

1,850,819

123,671

Annaly

Capital

Management,

Inc.

2,326,251

37,790

Associated

Banc-Corp

646,587

26,348

Bank

OZK

976,720

16,401

Brighthouse

Financial,

Inc.

a

802,665

45,727

Cadence

Bank

970,327

28,294

CNO

Financial

Group,

Inc.

671,417

52,225

Columbia

Banking

System,

Inc.

1,060,167

28,414

Commerce

Bancshares,

Inc.

1,363,304

16,056

Cullen/Frost

Bankers,

Inc.

1,464,468

35,427

East

West

Bancorp,

Inc.

1,867,357

6,245

Erie

Indemnity

Company

1,834,719

26,789

Essent

Group,

Ltd.

1,266,852

11,813

Euronet

Worldwide,

Inc.

a

937,716

8,728

Evercore,

Inc.

1,203,417

89,846

F.N.B.

Corporation

969,438

22,106

Federated

Hermes,

Inc.

748,730

64,743

Fidelity

National

Financial,

Inc.

2,673,886

25,812

First

American

Financial

Corporation

1,458,120

32,167

First

Financial

Bankshares,

Inc.

808,035

139,895

First

Horizon

Corporation

1,541,643

9,262

FirstCash

Holdings,

Inc.

929,720

27,762

Glacier

Bancorp,

Inc.

791,217

21,565

Hancock

Whitney

Corporation

797,689

8,953

Hanover

Insurance

Group,

Inc.

993,604

47,174

Home

BancShares,

Inc.

987,824

26,785

Interactive

Brokers

Group,

Inc.

2,318,510

13,362

International

Bancshares

Corporation

579,109

33,184

Janus

Henderson

Group

plc

856,811

44,253

Jefferies

Financial

Group,

Inc.

1,620,987

15,077

Kemper

Corporation

633,686

5,510

Kinsale

Capital

Group,

Inc.

2,281,856

70,691

MGIC

Investment

Corporation

1,179,833

6,515

Morningstar,

Inc.

1,526,074

180,809

New

York

Community

Bancorp,

Inc.

2,050,374

73,262

Old

National

Bancorp

1,065,229

66,284

Old

Republic

International

Corporation

1,785,691

19,220

Pinnacle

Financial

Partners,

Inc.

1,288,509

8,956

Primerica,

Inc.

1,737,554

23,467

Prosperity

Bancshares,

Inc.

1,280,829

16,579

Reinsurance

Group

of

America,

Inc.

2,407,105

12,816

RenaissanceRe

Holdings,

Ltd.

2,536,543

10,047

RLI

Corporation

1,365,287

25,188

SEI

Investments

Company

1,517,073

15,166

Selective

Insurance

Group,

Inc.

1,564,676

56,609

SLM

Corporation

771,015

19,031

SouthState

Corporation

1,281,928

74,401

Starwood

Property

Trust,

Inc.

1,439,659

26,153

Stifel

Financial

Corporation

1,606,840

36,599

Synovus

Financial

Corporation

1,017,452

12,019

Texas

Capital

Bancshares,

Inc.

a

707,919

10,934

UMB

Financial

Corporation

678,455

33,787

United

Bankshares,

Inc.

932,183

46,044

Unum

Group

2,264,904

106,771

Valley

National

Bancorp

913,960

26,487

Voya

Financial,

Inc.

1,760,061

43,382

Webster

Financial

Corporation

1,748,728

93,781

Western

Union

Company

1,236,034

Shares

Common

Stock

(98.5%)

Value

Financials

(14.6%)

-

continued

10,755

WEX,

Inc.

a

$

2,022,908

15,327

Wintrust

Financial

Corporation

1,157,188

Total

84,034,992

Health

Care

(8.2%)

23,079

Acadia

Healthcare

Company,

Inc.

a

1,622,684

8,171

Amedisys,

Inc.

a

763,171

26,840

Arrowhead

Research

Corporation

a

721,191

15,062

Azenta,

Inc.

a

755,962

24,637

Bruker

Corporation

1,534,885

3,775

Chemed

Corporation

1,961,868

31,428

Doximity,

Inc.

a

666,902

25,097

Encompass

Health

Corporation

1,685,515

12,427

Enovis

Corporation

a

655,276

41,020

Envista

Holdings

Corporation

a

1,143,638

79,720

Exelixis,

Inc.

a

1,741,882

29,388

Globus

Medical,

Inc.

a

1,459,114

12,698

Haemonetics

Corporation

a

1,137,487

33,032

Halozyme

Therapeutics,

Inc.

a

1,261,822

21,401

HealthEquity,

Inc.

a

1,563,343

5,077

ICU

Medical,

Inc.

a

604,214

12,781

Inari

Medical,

Inc.

a

835,877

17,733

Integra

LifeSciences

Holdings

Corporation

a

677,223

15,809

Jazz

Pharmaceuticals,

Inc.

a

2,046,317

17,135

Lantheus

Holdings,

Inc.

a

1,190,540

13,492

LivaNova

plc

a

713,457

11,109

Masimo

Corporation

a

974,037

5,816

Medpace

Holdings,

Inc.

a

1,408,228

49,273

Neogen

Corporation

a

913,521

24,451

Neurocrine

Biosciences,

Inc.

a

2,750,738

45,040

Option

Care

Health,

Inc.

a

1,457,044

21,308

Patterson

Companies,

Inc.

631,569

9,624

Penumbra,

Inc.

a

2,328,142

33,902

Perrigo

Company

plc

1,083,169

20,783

Progyny,

Inc.

a

707,038

12,376

QuidelOrtho

Corporation

a

903,943

49,305

R1

RCM,

Inc.

a

743,026

12,984

Repligen

Corporation

a

2,064,586

9,202

ShockWave

Medical,

Inc.

a

1,832,118

24,768

Sotera

Health

Company

a

371,025

25,424

Tenet

Healthcare

Corporation

a

1,675,187

11,752

United

Therapeutics

Corporation

a

2,654,424

Total

47,240,163

Industrials

(21.9%)

7,810

Acuity

Brands,

Inc.

1,330,121

17,339

Advanced

Drainage

Systems,

Inc.

1,973,698

34,736

AECOM

2,884,477

15,562

AGCO

Corporation

1,840,673

12,119

ASGN,

Inc.

a

989,880

4,947

Avis

Budget

Group,

Inc.

a

888,926

11,625

Brink's

Company

844,440

31,308

Builders

FirstSource,

Inc.

a

3,897,533

22,902

BWX

Technologies,

Inc.

1,717,192

5,709

CACI

International,

Inc.

a

1,792,226

12,499

Carlisle

Companies,

Inc.

3,240,491

10,510

Chart

Industries,

Inc.

a

1,777,451

12,610

Clean

Harbors,

Inc.

a

2,110,410

10,818

Concentrix

Corporation

866,630

12,225

Crane

Company

1,086,069

9,591

Curtiss-Wright

Corporation

1,876,287

30,358

Donaldson

Company,

Inc.

1,810,551

11,802

EMCOR

Group,

Inc.

2,483,023

10,276

EnerSys

972,829

Mid

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

201

Shares

Common

Stock

(98.5%)

Value

Industrials

(21.9%)

-

continued

14,183

ESAB

Corporation

$

995,930

41,496

ExlService

Holdings,

Inc.

a

1,163,548

12,732

Exponent,

Inc.

1,089,859

32,853

Flowserve

Corporation

1,306,564

35,898

Fluor

Corporation

a

1,317,457

31,773

Fortune

Brands

Innovations,

Inc.

1,975,010

8,521

FTI

Consulting,

Inc.

a

1,520,232

8,864

GATX

Corporation

964,669

41,769

Genpact,

Ltd.

1,512,038

42,315

Graco,

Inc.

3,083,917

29,781

GXO

Logistics,

Inc.

a

1,746,656

33,513

Hertz

Global

Holdings,

Inc.

a

410,534

21,150

Hexcel

Corporation

1,377,711

13,429

Hubbell,

Inc.

4,208,783

9,073

Insperity,

Inc.

885,525

20,557

ITT

Corporation

2,012,736

33,782

KBR,

Inc.

1,991,111

14,898

Kirby

Corporation

a

1,233,554

40,387

Knight-Swift

Transportation

Holdings,

Inc.

2,025,408

9,001

Landstar

System,

Inc.

1,592,637

8,003

Lennox

International,

Inc.

2,996,643

14,376

Lincoln

Electric

Holdings,

Inc.

2,613,413

12,415

ManpowerGroup,

Inc.

910,268

15,135

MasTec,

Inc.

a

1,089,266

15,220

Maximus,

Inc.

1,136,630

50,990

MDU

Resources

Group,

Inc.

998,384

13,422

Middleby

Corporation

a

1,718,016

9,250

MSA

Safety,

Inc.

1,458,263

11,868

MSC

Industrial

Direct

Company,

Inc.

1,164,844

41,509

nVent

Electric

plc

2,199,562

16,351

Oshkosh

Corporation

1,560,376

22,494

Owens

Corning,

Inc.

3,068,407

10,782

Paylocity

Holding

Corporation

a

1,959,089

7,275

RBC

Bearings,

Inc.

a

1,703,296

16,604

Regal

Rexnord

Corporation

2,372,380

11,400

Ryder

System,

Inc.

1,219,230

6,644

Saia,

Inc.

a

2,648,631

13,442

Science

Applications

International

Corporation

1,418,669

38,165

Sensata

Technologies

Holding

plc

1,443,400

10,685

Simpson

Manufacturing

Company,

Inc.

1,600,720

23,167

Stericycle,

Inc.

a

1,035,797

54,381

Sunrun,

Inc.

a

683,025

16,876

Terex

Corporation

972,395

13,332

Tetra

Tech,

Inc.

2,026,864

16,365

Timken

Company

1,202,664

26,017

Toro

Company

2,162,013

27,183

Trex

Company,

Inc.

a

1,675,288

15,491

UFP

Industries,

Inc.

1,586,278

5,262

Valmont

Industries,

Inc.

1,263,985

5,617

Vicor

Corporation

a

330,785

8,398

Watsco,

Inc.

3,172,093

6,856

Watts

Water

Technologies,

Inc.

1,184,854

15,872

Werner

Enterprises,

Inc.

618,214

11,067

WESCO

International,

Inc.

1,591,656

15,128

Woodward,

Inc.

1,879,805

29,037

XPO,

Inc.

a

2,167,902

Total

125,629,891

Information

Technology

(10.5%)

27,191

ACI

Worldwide,

Inc.

a

613,429

17,823

Allegro

MicroSystems,

Inc.

a

569,267

Shares

Common

Stock

(98.5%)

Value

Information

Technology

(10.5%)

-

continued

25,842

Amkor

Technology,

Inc.

$

584,029

13,938

Arrow

Electronics,

Inc.

a

1,745,595

7,102

Aspen

Technology,

Inc.

a

1,450,655

22,886

Avnet,

Inc.

1,102,876

10,591

Belden,

Inc.

1,022,561

10,788

Blackbaud,

Inc.

a

758,612

14,779

Calix,

Inc.

a

677,469

37,433

Ciena

Corporation

a

1,769,084

13,699

Cirrus

Logic,

Inc.

a

1,013,178

43,141

Cognex

Corporation

1,830,904

32,584

Coherent

Corporation

a

1,063,542

10,986

CommVault

Systems,

Inc.

a

742,763

12,088

Crane

NXT

Company

671,730

14,912

Dolby

Laboratories,

Inc.

1,181,925

64,570

Dropbox,

Inc.

a

1,758,241

59,485

Dynatrace

Holdings,

LLC

a

2,779,734

12,426

Envestnet,

Inc.

a

547,117

36,761

GoDaddy,

Inc.

a

2,737,959

7,472

IPG

Photonics

Corporation

a

758,707

32,772

Jabil,

Inc.

4,158,439

57,313

Kyndryl

Holdings,

Inc.

a

865,426

34,513

Lattice

Semiconductor

Corporation

a

2,965,702

6,233

Littelfuse,

Inc.

1,541,546

17,202

Lumentum

Holdings,

Inc.

a

777,186

13,509

MACOM

Technology

Solutions

Holdings,

Inc.

a

1,102,064

15,441

Manhattan

Associates,

Inc.

a

3,052,068

15,738

MKS

Instruments,

Inc.

1,361,967

32,926

National

Instruments

Corporation

1,963,048

33,516

NCR

Corporation

a

903,927

8,966

Novanta,

Inc.

a

1,286,083

14,371

Power

Integrations,

Inc.

1,096,651

9,192

Qualys,

Inc.

a

1,402,240

7,979

Silicon

Laboratories,

Inc.

a

924,686

11,434

Super

Micro

Computer,

Inc.

a

3,135,431

9,897

Synaptics,

Inc.

a

885,188

11,972

TD

SYNNEX

Corporation

1,195,524

25,014

Teradata

Corporation

a

1,126,130

10,907

Universal

Display

Corporation

1,712,290

31,787

Vishay

Intertechnology,

Inc.

785,775

38,745

Vontier

Corporation

1,197,995

31,167

Wolfspeed,

Inc.

a

1,187,463

Total

60,006,206

Materials

(6.9%)

44,683

Alcoa

Corporation

1,298,488

16,435

AptarGroup,

Inc.

2,055,032

12,830

Ashland,

Inc.

1,047,954

22,806

Avient

Corporation

805,508

55,513

Axalta

Coating

Systems,

Ltd.

a

1,493,300

29,571

Berry

Plastics

Group,

Inc.

1,830,741

14,006

Cabot

Corporation

970,196

37,077

Chemours

Company

1,040,010

127,370

Cleveland-Cliffs,

Inc.

a

1,990,793

29,242

Commercial

Metals

Company

1,444,847

30,210

Crown

Holdings,

Inc.

2,672,981

8,872

Eagle

Materials,

Inc.

1,477,365

76,923

Graphic

Packaging

Holding

Company

1,713,844

6,378

Greif,

Inc.

426,114

12,747

Knife

River

Corporation

a

622,436

16,069

Louisiana-Pacific

Corporation

888,134

36,030

MP

Materials

Corporation

a

688,173

1,729

NewMarket

Corporation

786,764

Mid

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

202

Shares

Common

Stock

(98.5%)

Value

Materials

(6.9%)

-

continued

31,506

Olin

Corporation

$

1,574,670

14,662

Reliance

Steel

&

Aluminum

Company

3,844,816

16,448

Royal

Gold,

Inc.

1,748,916

32,314

RPM

International,

Inc.

3,063,690

10,405

Scotts

Miracle-Gro

Company

537,730

20,923

Silgan

Holdings,

Inc.

901,991

24,527

Sonoco

Products

Company

1,333,043

55,829

United

States

Steel

Corporation

1,813,326

7,993

Westlake

Corporation

996,487

7,628

Worthington

Industries,

Inc.

471,563

Total

39,538,912

Real

Estate

(7.1%)

24,105

Agree

Realty

Corporation

1,331,560

37,365

Apartment

Income

REIT

Corporation

1,147,106

75,266

Brixmor

Property

Group,

Inc.

1,564,028

28,178

COPT

Defense

Properties

671,482

38,003

Cousins

Properties,

Inc.

774,121

56,291

CubeSmart

2,146,376

11,368

EastGroup

Properties,

Inc.

1,893,113

18,861

EPR

Properties

783,486

46,642

Equity

Lifestyle

Properties,

Inc.

2,971,562

33,115

First

Industrial

Realty

Trust,

Inc.

1,575,943

65,763

Gaming

and

Leisure

Properties,

Inc.

2,995,505

95,364

Healthcare

Realty

Trust,

Inc.

1,456,208

56,192

Independence

Realty

Trust,

Inc.

790,621

11,939

Jones

Lang

LaSalle,

Inc.

a

1,685,548

26,700

Kilroy

Realty

Corporation

843,987

54,929

Kite

Realty

Group

Trust

1,176,579

21,919

Lamar

Advertising

Company

1,829,579

149,835

Medical

Properties

Trust,

Inc.

816,601

20,780

National

Storage

Affiliates

Trust

659,557

45,674

NNN

REIT,

Inc.

1,614,119

61,314

Omega

Healthcare

Investors,

Inc.

2,033,172

54,018

Park

Hotels

&

Resorts,

Inc.

665,502

59,707

Physicians

Realty

Trust

727,828

20,009

PotlatchDeltic

Corporation

908,209

34,155

Rayonier,

Inc.

REIT

972,051

51,692

Rexford

Industrial

Realty,

Inc.

2,551,000

57,896

Sabra

Health

Care

REIT,

Inc.

807,070

35,388

Spirit

Realty

Capital,

Inc.

1,186,560

44,987

STAG

Industrial,

Inc.

1,552,501

40,077

Vornado

Realty

Trust

908,946

Total

41,039,920

Utilities

(3.3%)

14,372

ALLETE,

Inc.

758,842

16,804

Black

Hills

Corporation

850,114

60,932

Essential

Utilities,

Inc.

2,091,796

12,674

IDACORP,

Inc.

1,186,920

22,991

National

Fuel

Gas

Company

1,193,463

24,429

New

Jersey

Resources

Corporation

992,550

15,034

NorthWestern

Corporation

722,534

50,150

OGE

Energy

Corporation

1,671,499

13,884

ONE

Gas,

Inc.

948,000

13,429

Ormat

Technologies,

Inc.

938,956

21,492

PNM

Resources,

Inc.

958,758

25,313

Portland

General

Electric

Company

1,024,670

15,034

Southwest

Gas

Holdings,

Inc.

908,204

13,171

Spire,

Inc.

745,215

Shares

Common

Stock

(98.5%)

Value

Utilities

(3.3%)

-

continued

52,452

UGI

Corporation

$

1,206,396

86,515

Vistra

Energy

Corporation

2,870,568

Total

19,068,485

Total

Common

Stock

(cost

$440,264,726)

565,696,176

Shares

Collateral

Held

for

Securities

Loaned

(

0.4%

)

Value

2,187,225

Thrivent

Cash

Management

Trust

2,187,225

Total

Collateral

Held

for

Securities

Loaned

(cost

$2,187,225)

2,187,225

Shares

or

Principal

Amount

Short-Term

Investments

(

1.7%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

300,000

5.320%,

11/17/2023

c,d

298,039

400,000

5.315%,

12/15/2023

c,d

395,792

Thrivent

Core

Short-Term

Reserve

Fund

898,683

5.650%

8,986,830

Total

Short-Term

Investments

(cost

$9,680,213)

9,680,661

Total

Investments

(cost

$452,132,164)

100.6%

$577,564,062

Other

Assets

and

Liabilities,

Net

(0.6%)

(3,486,952)

Total

Net

Assets

100.0%

$574,077,110

a

Non-income

producing

security.

b

All

or

a

portion

of

the

security

is

on

loan.

c

The

interest

rate

shown

reflects

the

yield.

d

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Mid

Cap

Index

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Common

Stock

$

2,114,931

Total

lending

$2,114,931

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$2,187,225

Net

amounts

due

to

counterparty

$72,294

Definitions:

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Mid

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

203

Reference

Description:

CME

-

Chicago

Mercantile

Exchange

S&P

-

Standard

&

Poor's

I

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Mid

Cap

Index

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

9,708,312

9,708,312

–

–

Consumer

Discretionary

81,927,175

81,927,175

–

–

Consumer

Staples

24,378,458

24,378,458

–

–

Energy

33,123,662

33,123,662

–

–

Financials

84,034,992

84,034,992

–

–

Health

Care

47,240,163

47,240,163

–

–

Industrials

125,629,891

125,629,891

–

–

Information

Technology

60,006,206

60,006,206

–

–

Materials

39,538,912

39,538,912

–

–

Real

Estate

41,039,920

41,039,920

–

–

Utilities

19,068,485

19,068,485

–

–

Short-Term

Investments

693,831

–

693,831

–

Subtotal

Investments

in

Securities

$566,390,007

$565,696,176

$693,831

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

8,986,830

Collateral

Held

for

Securities

Loaned

2,187,225

Subtotal

Other

Investments

$11,174,055

Total

Investments

at

Value

$577,564,062

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Mid

Cap

Index

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Liability

Derivatives

Futures

Contracts

279,237

279,237

–

–

Total

Liability

Derivatives

$279,237

$279,237

$–

$–

The

following

table

presents

Mid

Cap

Index

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$693,831

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Amount

Value

and

Unrealized

CME

E-mini

S&P

Mid-Cap

400

Index

33

December

2023

$

8,596,557

(

$

279,237)

Total

Futures

Long

Contracts

$

8,596,557

(

$

279,237)

Total

Futures

Contracts

$

8,596,557

($279,237)

Mid

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

204

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Mid

Cap

Index

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$

9,848

$32,188

$33,049

$8,987

899

1.6%

Total

Affiliated

Short-Term

Investments

9,848

8,987

1.6

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

3,196

39,812

40,821

2,187

2,187

0.4

Total

Collateral

Held

for

Securities

Loaned

3,196

2,187

0.4

Total

Value

$13,044

$11,174

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$425

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$425

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

75

Total

Affiliated

Income

from

Securities

Loaned,

Net

$75

Total

Value

$–

$–

$

–

Mid

Cap

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

205

Shares

Common

Stock

(

98.5%

)

Value

Communications

Services

(0.8%)

3,116,531

DISH

Network

Corporation

a

$

18,262,872

Total

18,262,872

Consumer

Discretionary

(13.2%)

251,422

Aptiv

plc

a

24,787,695

29,430

Chipotle

Mexican

Grill,

Inc.

a

53,910,757

434,272

Crocs,

Inc.

a

38,315,818

73,302

Domino's

Pizza,

Inc.

27,766,065

82,206

Lululemon

Athletica,

Inc.

a

31,699,456

12,405

NVR,

Inc.

a

73,974,736

492,065

Skyline

Champion

Corporation

a

31,354,382

Total

281,808,909

Consumer

Staples

(4.5%)

385,516

BJ's

Wholesale

Club

Holdings,

Inc.

a

27,514,277

159,336

Casey's

General

Stores,

Inc.

43,262,911

499,452

Tyson

Foods,

Inc.

25,217,331

Total

95,994,519

Energy

(5.1%)

491,575

Chesapeake

Energy

Corporation

42,388,512

760,362

Devon

Energy

Corporation

36,269,267

1,457,593

NOV,

Inc.

30,463,694

Total

109,121,473

Financials

(16.6%)

1,094,510

Ally

Financial,

Inc.

29,201,527

101,306

Ameriprise

Financial,

Inc.

33,398,562

897,897

Arch

Capital

Group,

Ltd.

a

71,571,370

235,352

Kinsale

Capital

Group,

Inc.

97,466,324

974,436

Radian

Group,

Inc.

24,468,088

523,276

Voya

Financial,

Inc.

34,771,690

673,512

Western

Alliance

Bancorp

30,961,346

969,754

Zions

Bancorp

NA

33,834,717

Total

355,673,624

Health

Care

(9.6%)

185,684

Align

Technology,

Inc.

a

56,693,039

347,604

Bio-Techne

Corporation

23,661,404

675,121

Centene

Corporation

a

46,502,335

495,528

Edwards

Lifesciences

Corporation

a

34,330,180

2,150,975

Maravai

LifeSciences

Holdings,

Inc.

a

21,509,750

188,306

Sarepta

Therapeutics,

Inc.

a

22,826,453

Total

205,523,161

Industrials

(19.5%)

487,225

Advanced

Drainage

Systems,

Inc.

55,460,822

131,389

Axon

Enterprise,

Inc.

a

26,145,097

646,730

Fastenal

Company

35,337,327

1,072,826

Howmet

Aerospace,

Inc.

49,618,203

153,006

Lincoln

Electric

Holdings,

Inc.

27,814,961

174,180

Old

Dominion

Freight

Line,

Inc.

71,264,005

210,725

Quanta

Services,

Inc.

39,420,326

609,884

Timken

Company

44,820,375

155,053

United

Rentals,

Inc.

68,931,912

Total

418,813,028

Information

Technology

(12.2%)

112,070

ANSYS,

Inc.

a

33,346,429

674,603

Ciena

Corporation

a

31,881,738

1,584,379

Dropbox,

Inc.

a

43,142,640

199,742

Enphase

Energy,

Inc.

a

23,999,001

Shares

Common

Stock

(98.5%)

Value

Information

Technology

(12.2%)

-

continued

188,367

NICE,

Ltd.

ADR

a,b

$

32,022,390

479,476

ON

Semiconductor

Corporation

a

44,567,294

556,664

Trimble,

Inc.

a

29,981,923

577,066

Wolfspeed,

Inc.

a

21,986,215

Total

260,927,630

Materials

(7.9%)

917,074

Ball

Corporation

45,651,944

466,924

PPG

Industries,

Inc.

60,606,735

587,441

Steel

Dynamics,

Inc.

62,985,424

Total

169,244,103

Real

Estate

(4.4%)

333,122

Alexandria

Real

Estate

Equities,

Inc.

33,345,512

198,332

Camden

Property

Trust

18,758,241

206,250

SBA

Communications

Corporation

41,285,062

Total

93,388,815

Utilities

(4.7%)

773,269

Alliant

Energy

Corporation

37,464,883

995,648

CenterPoint

Energy,

Inc.

26,733,149

1,472,675

NiSource,

Inc.

36,345,619

Total

100,543,651

Total

Common

Stock

(cost

$1,662,715,208)

2,109,301,785

Shares

Collateral

Held

for

Securities

Loaned

(

0.1%

)

Value

873,375

Thrivent

Cash

Management

Trust

873,375

Total

Collateral

Held

for

Securities

Loaned

(cost

$873,375)

873,375

Shares

Short-Term

Investments

(

1.6%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

3,507,687

5.650%

35,076,872

Total

Short-Term

Investments

(cost

$35,057,832)

35,076,872

Total

Investments

(cost

$1,698,646,415)

100.2%

$2,145,252,032

Other

Assets

and

Liabilities,

Net

(0.2%)

(

3,728,834)

Total

Net

Assets

100.0%

$2,141,523,198

a

Non-income

producing

security.

b

All

or

a

portion

of

the

security

is

on

loan.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Mid

Cap

Stock

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Common

Stock

$

867,000

Total

lending

$867,000

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$873,375

Net

amounts

due

to

counterparty

$6,375

Mid

Cap

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

206

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

plc

-

Public

Limited

Company

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Mid

Cap

Stock

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

18,262,872

18,262,872

–

–

Consumer

Discretionary

281,808,909

281,808,909

–

–

Consumer

Staples

95,994,519

95,994,519

–

–

Energy

109,121,473

109,121,473

–

–

Financials

355,673,624

355,673,624

–

–

Health

Care

205,523,161

205,523,161

–

–

Industrials

418,813,028

418,813,028

–

–

Information

Technology

260,927,630

260,927,630

–

–

Materials

169,244,103

169,244,103

–

–

Real

Estate

93,388,815

93,388,815

–

–

Utilities

100,543,651

100,543,651

–

–

Subtotal

Investments

in

Securities

$2,109,301,785

$2,109,301,785

$–

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

35,076,872

Collateral

Held

for

Securities

Loaned

873,375

Subtotal

Other

Investments

$35,950,247

Total

Investments

at

Value

$2,145,252,032

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Mid

Cap

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

207

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Mid

Cap

Stock

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$

55,489

$184,115

$204,527

$35,077

3,508

1.6%

Total

Affiliated

Short-Term

Investments

55,489

35,077

1.6

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

106,285

105,412

873

873

0.1

Total

Collateral

Held

for

Securities

Loaned

–

873

0.1

Total

Value

$55,489

$35,950

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$2,024

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$2,024

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

57

Total

Affiliated

Income

from

Securities

Loaned,

Net

$57

Total

Value

$–

$–

$

–

Mid

Cap

Value

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

208

Shares

Common

Stock

(

99.2%

)

Value

Communications

Services

(2.6%)

38,345

Imax

Corporation

a

$

740,825

49,317

Warner

Brothers

Discovery,

Inc.

a

535,583

Total

1,276,408

Consumer

Discretionary

(11.0%)

4,152

Aptiv

plc

a

409,346

13,698

Cedar

Fair,

LP

506,826

18,403

Cheesecake

Factory,

Inc.

557,611

6,077

D.R.

Horton,

Inc.

653,095

18,960

eBay,

Inc.

835,946

6,142

Lear

Corporation

824,256

12,367

PUMA

SE

764,681

17,470

Six

Flags

Entertainment

Corporation

a

410,720

12,256

Tapestry,

Inc.

352,360

Total

5,314,841

Consumer

Staples

(6.7%)

6,563

Dollar

Tree,

Inc.

a

698,631

5,464

Lamb

Weston

Holdings,

Inc.

505,202

6,900

Reckitt

Benckiser

Group

plc

486,596

9,227

Sysco

Corporation

609,443

23,083

US

Foods

Holding

Corporation

a

916,395

Total

3,216,267

Energy

(8.0%)

33,307

Enterprise

Products

Partners,

LP

911,613

7,399

Helmerich

&

Payne,

Inc.

311,942

4,054

Marathon

Petroleum

Corporation

613,532

18,353

Noble

Corporation

plc

929,579

4,816

Pioneer

Natural

Resources

Company

1,105,513

Total

3,872,179

Financials

(18.2%)

8,598

Allstate

Corporation

957,903

6,296

Capital

One

Financial

Corporation

611,027

35,134

Carlyle

Group,

Inc.

1,059,642

3,743

Cboe

Global

Markets,

Inc.

584,694

11,658

Comerica,

Inc.

484,390

13,097

Eastern

Bankshares,

Inc.

164,236

26,739

Equitable

Holdings,

Inc.

759,120

6,106

M&T

Bank

Corporation

772,104

3,379

Raymond

James

Financial,

Inc.

339,353

4,078

Selective

Insurance

Group,

Inc.

420,727

11,269

Synovus

Financial

Corporation

313,278

14,306

Texas

Capital

Bancshares,

Inc.

a

842,623

11,763

Voya

Financial,

Inc.

781,651

9,677

Wintrust

Financial

Corporation

730,614

Total

8,821,362

Health

Care

(7.3%)

32,230

Avantor,

Inc.

a

679,408

20,166

Baxter

International,

Inc.

761,065

6,397

Cardinal

Health,

Inc.

555,388

4,850

Laboratory

Corporation

of

America

Holdings

975,092

4,378

Universal

Health

Services,

Inc.

550,446

Total

3,521,399

Industrials

(16.9%)

5,220

AGCO

Corporation

617,422

26,526

Barnes

Group,

Inc.

901,088

Shares

Common

Stock

(99.2%)

Value

Industrials

(16.9%)

-

continued

6,700

Booz

Allen

Hamilton

Holding

Corporation

$

732,109

2,310

Carlisle

Companies,

Inc.

598,891

30,360

Flowserve

Corporation

1,207,417

5,757

General

Dynamics

Corporation

1,272,124

6,278

JB

Hunt

Transport

Services,

Inc.

1,183,529

27,034

Sensata

Technologies

Holding

plc

1,022,426

24,132

Southwest

Airlines

Company

653,253

Total

8,188,259

Information

Technology

(8.6%)

9,425

CommVault

Systems,

Inc.

a

637,224

4,556

Jabil,

Inc.

578,111

16,418

Juniper

Networks,

Inc.

456,256

16,471

Knowles

Corporation

a

243,936

8,395

MKS

Instruments,

Inc.

726,503

3,676

ON

Semiconductor

Corporation

a

341,684

4,995

PTC,

Inc.

a

707,692

10,330

Western

Digital

Corporation

a

471,358

Total

4,162,764

Materials

(8.3%)

18,650

Alcoa

Corporation

541,969

18,033

Axalta

Coating

Systems,

Ltd.

a

485,088

16,803

Berry

Plastics

Group,

Inc.

1,040,274

8,193

Celanese

Corporation

1,028,385

10,750

CF

Industries

Holdings,

Inc.

921,705

Total

4,017,421

Real

Estate

(6.1%)

2,792

AvalonBay

Communities,

Inc.

479,498

7,872

CBRE

Group,

Inc.

a

581,426

40,301

Healthcare

Realty

Trust,

Inc.

615,396

50,694

Host

Hotels

&

Resorts,

Inc.

814,653

4,351

Simon

Property

Group,

Inc.

470,038

Total

2,961,011

Utilities

(5.5%)

10,694

Alliant

Energy

Corporation

518,124

6,596

Constellation

Energy

Corporation

719,492

6,223

DTE

Energy

Company

617,819

31,539

NiSource,

Inc.

778,383

Total

2,633,818

Total

Common

Stock

(cost

$45,546,528)

47,985,729

Shares

Short-Term

Investments

(

0.6%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

28,758

5.650%

287,583

Total

Short-Term

Investments

(cost

$287,583)

287,583

Total

Investments

(cost

$45,834,111)

99.8%

$48,273,312

Other

Assets

and

Liabilities,

Net

0.2%

92,943

Total

Net

Assets

100.0%

$48,366,255

a

Non-income

producing

security.

Definitions:

plc

-

Public

Limited

Company

Mid

Cap

Value

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

209

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Mid

Cap

Value

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

1,276,408

1,276,408

–

–

Consumer

Discretionary

5,314,841

4,550,160

764,681

–

Consumer

Staples

3,216,267

2,729,671

486,596

–

Energy

3,872,179

3,872,179

–

–

Financials

8,821,362

8,821,362

–

–

Health

Care

3,521,399

3,521,399

–

–

Industrials

8,188,259

8,188,259

–

–

Information

Technology

4,162,764

4,162,764

–

–

Materials

4,017,421

4,017,421

–

–

Real

Estate

2,961,011

2,961,011

–

–

Utilities

2,633,818

2,633,818

–

–

Subtotal

Investments

in

Securities

$47,985,729

$46,734,452

$1,251,277

$–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

287,583

Subtotal

Other

Investments

$287,583

Total

Investments

at

Value

$48,273,312

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Mid

Cap

Value

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$1,619

$15,487

$16,818

$288

29

0.6%

Total

Affiliated

Short-Term

Investments

1,619

288

0.6

Total

Value

$1,619

$288

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$35

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$35

Total

Value

$–

$–

$

–

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

210

Principal

Amount

Bank

Loans

(

1.3%

)

a

Value

Basic

Materials

(<0.1%)

Grinding

Media,

Inc.,

Term

Loan

$

446,939

9.530%, 

(TSFR1M

+

4.000%),

10/12/2028

b,c

$

442,470

INEOS

US

Petrochem,

LLC,

Term

Loan

1,167,754

8.181%, 

(TSFR1M

+

2.750%),

1/29/2026

b

1,161,331

Lummus

Technology

Holdings

V,

LLC,

Term

Loan

408,396

8.931%, 

(TSFR1M

+

3.500%),

6/30/2027

b

406,999

Nouryon

USA,

LLC,

Term

Loan

887,728

8.427%, 

(TSFR3M

+

3.000%),

10/1/2025

b

886,245

Spectrum

Group

Buyer,

Inc.,

Term

Loan

402,480

11.953%, 

(TSFR1M

+

6.500%),

5/19/2028

b

386,683

Total

3,283,728

Capital

Goods

(0.2%)

Ali

Group

North

America

Corporation,

Term

Loan

591,715

7.431%, 

(TSFR1M

+

2.000%),

7/22/2029

b

590,892

Brookfield

WEC

Holdings,

Inc.,

Term

Loan

970,025

8.181%, 

(TSFR1M

+

2.750%),

8/1/2025

b

968,900

BW

Holding,

Inc.,

Term

Loan

421,414

9.573%, 

(TSFR1M

+

4.000%),

12/14/2028

b

377,317

Chart

Industries,

Inc.,

Term

Loan

371,068

9.174%, 

(TSFR1M

+

3.750%),

3/17/2030

b,c

371,068

Charter

Next

Generation,

Inc.,

Term

Loan

1,084,110

9.181%, 

(TSFR1M

+

3.750%),

12/1/2027

b

1,073,269

Clydesdale

Acquisition

Holdings,

Inc.,

Term

Loan

1,123,622

9.591%, 

(TSFR1M

+

4.175%),

4/13/2029

b

1,107,093

Cornerstone

Building

Brands,

Inc.,

Term

Loan

1,058,259

8.682%, 

(TSFR1M

+

3.250%),

4/12/2028

b

1,029,824

Emerald

Debt

Merger

Sub,

LLC,

Term

Loan

836,212

8.316%, 

(TSFR1M

+

3.000%),

5/31/2030

b

834,648

EnergySolutions,

LLC,

Term

Loan

298,030

0.000%, 

(TSFR1M

+

4.000%),

9/18/2030

b,c,d,e

295,795

Foley

Products

Company,

LLC,

Term

Loan

361,587

10.290%, 

(SOFRRATE

+

4.750%),

2/16/2029

b

359,703

Proampac

PG

Borrower,

LLC,

Term

Loan

600,993

0.000%, 

(TSFR1M

+

4.500%),

9/26/2028

b,d,e

597,087

Principal

Amount

Bank

Loans

(1.3%)

a

Value

Capital

Goods

(0.2%)

-

continued

Quikrete

Holdings,

Inc.,

Term

Loan

$

260,296

8.056%, 

(TSFR1M

+

2.625%),

1/31/2027

b

$

259,645

1,029,325

8.181%, 

(TSFR1M

+

2.750%),

3/18/2029

b

1,028,738

Smyrna

Ready

Mix

Concrete,

LLC,

Term

Loan

788,423

9.666%, 

(TSFR1M

+

4.250%),

4/1/2029

b,c

789,409

TK

Elevator

U.S.

Newco,

Inc.,

Term

Loan

664,315

9.381%, 

(TSFR6M

+

3.500%),

7/31/2027

b

662,322

TransDigm,

Inc.,

Term

Loan

1,737,867

8.640%, 

(TSFR1M

+

3.250%),

8/24/2028

b

1,737,589

Vertiv

Group

Corporation,

Term

Loan

651,303

8.192%, 

(TSFR1M

+

2.750%),

3/2/2027

b

649,909

Total

12,733,208

Communications

Services

(0.2%)

Altice

France

SA/France,

Term

Loan

1,360,032

10.808%, 

(TSFR1M

+

5.500%),

8/31/2028

b

1,227,768

CCI

Buyer,

Inc.,

Term

Loan

523,629

9.390%, 

(TSFR3M

+

4.000%),

12/17/2027

b

516,105

Cengage

Learning,

Inc.,

Term

Loan

434,170

10.323%, 

(TSFR3M

+

4.750%),

7/14/2026

b

431,565

Charter

Communications

Operating,

LLC,

Term

Loan

1,633,979

7.116%, 

(TSFR3M

+

1.750%),

2/1/2027

b

1,631,332

Clear

Channel

Outdoor

Holdings,

Inc.,

Term

Loan

1,216,024

9.130%, 

(TSFR3M

+

3.500%),

8/23/2026

b

1,179,033

CMG

Media

Corporation,

Term

Loan

786,500

0.000%, 

(LIBOR

3M

+

3.500%),

12/17/2026

b,d,e

717,681

Crown

Subsea

Communications

Holding,

Inc.,

Term

Loan

399,900

10.444%, 

(TSFR1M

+

5.000%),

4/27/2027

b

400,568

541,116

10.694%, 

(TSFR1M

+

5.250%),

4/27/2027

b

542,469

CSC

Holdings,

LLC,

Term

Loan

610,917

7.947%, 

(LIBOR

1M

+

2.500%),

4/15/2027

b

551,860

DIRECTV

Financing,

LLC,

Term

Loan

1,476,270

10.431%, 

(TSFR1M

+

5.000%),

8/2/2027

b

1,441,002

Intelsat

Jackson

Holdings

SA,

Term

Loan

774,813

9.772%, 

(TSFR6M

+

4.250%),

2/1/2029

b

772,349

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

211

Principal

Amount

Bank

Loans

(1.3%)

a

Value

Communications

Services

(0.2%)

-

continued

Level

3

Financing,

Inc.,

Term

Loan

$

684,000

7.181%, 

(TSFR1M

+

1.750%),

3/1/2027

b

$

644,841

Lumen

Technologies,

Inc.,

Term

Loan

837,630

7.681%, 

(TSFR1M

+

2.250%),

3/15/2027

b

594,960

McGraw-Hill

Education,

Inc.,

Term

Loan

768,000

10.181%, 

(LIBOR

1M

+

4.750%),

7/30/2028

b,d,e

751,519

MH

Sub

I,

LLC,

Term

Loan

1,003,925

9.566%, 

(TSFR1M

+

4.250%),

5/3/2028

b

969,882

NEP

Group,

Inc.,

Term

Loan

434,043

8.681%, 

(TSFR1M

+

3.250%),

10/20/2025

b

418,582

Playtika

Holding

Corporation,

Term

Loan

523,629

8.181%, 

(TSFR1M

+

2.750%),

3/11/2028

b

522,650

Radiate

Holdco,

LLC,

Term

Loan

849,212

8.681%, 

(TSFR1M

+

3.250%),

9/25/2026

b

692,600

RLG

Holdings,

LLC,

Term

Loan

421,411

9.681%, 

(TSFR1M

+

4.250%),

7/8/2028

b

395,073

SBA

Senior

Finance

II,

LLC,

Term

Loan

558,680

7.170%, 

(TSFR1M

+

1.750%),

4/11/2025

b,d,e

558,104

UPC

Financing

Partnership,

Term

Loan

400,000

8.372%, 

(TSFR1M

+

2.925%),

1/31/2029

b

393,500

Virgin

Media

Bristol,

LLC,

Term

Loan

993,000

7.947%, 

(TSFR1M

+

2.500%),

1/31/2028

b

963,339

Zayo

Group

Holdings,

Inc.,

Term

Loan

839,000

8.431%, 

(TSFR1M

+

3.000%),

3/9/2027

b

683,206

Ziggo

Financing

Partnership,

Term

Loan

671,000

7.947%, 

(TSFR1M

+

2.500%),

4/30/2028

b

654,782

Total

17,654,770

Consumer

Cyclical

(0.2%)

1011778

B.C.,

ULC,

Term

Loan

1,625,368

7.566%, 

(TSFR1M

+

2.250%),

9/21/2030

b

1,618,265

AlixPartners,

LLP,

Term

Loan

459,289

8.181%, 

(TSFR1M

+

2.750%),

2/4/2028

b

458,600

Allied

Universal

Holdco,

LLC,

Term

Loan

1,621,455

9.166%, 

(TSFR1M

+

3.750%),

5/14/2028

b

1,563,779

Alterra

Mountain

Company,

Term

Loan

510,788

8.931%, 

(TSFR1M

+

3.500%),

8/17/2028

b

509,087

Principal

Amount

Bank

Loans

(1.3%)

a

Value

Consumer

Cyclical

(0.2%)

-

continued

Arches

Buyer,

Inc.,

Term

Loan

$

281,102

8.666%, 

(TSFR1M

+

3.250%),

12/6/2027

b

$

274,777

Caesars

Entertainment,

Inc.,

Term

Loan

997,985

8.666%, 

(TSFR1M

+

3.250%),

2/6/2030

b

997,366

Carnival

Corporation,

Term

Loan

601,562

8.327%, 

(TSFR1M

+

3.000%),

8/8/2027

b

599,306

441,506

8.681%, 

(TSFR1M

+

3.250%),

10/18/2028

b

438,747

Cinemark

USA,

Inc.,

Term

Loan

434,760

9.089%, 

(TSFR1M

+

3.750%),

5/24/2030

b

433,765

Clarios

Global,

LP,

Term

Loan

905,797

9.066%, 

(TSFR1M

+

3.750%),

5/4/2030

b

902,971

Delta

2

Lux

SARL,

Term

Loan

968,000

8.316%, 

(TSFR1M

+

3.000%),

1/15/2030

b

967,032

Ensemble

RCM,

LLC,

Term

Loan

364,104

9.219%, 

(TSFR1M

+

3.750%),

8/1/2026

b

364,235

Fertitta

Entertainment,

LLC/NV,

Term

Loan

395,980

9.316%, 

(TSFR1M

+

4.000%),

1/27/2029

b

391,525

First

Brands

Group,

LLC,

Term

Loan

520,992

10.881%, 

(TSFR6M

+

5.000%),

3/30/2027

b

513,177

GoDaddy

Operating

Company,

LLC,

Term

Loan

640,171

7.816%, 

(TSFR1M

+

2.500%),

11/10/2029

b

640,369

Great

Outdoors

Group,

LLC,

Term

Loan

906,748

9.181%, 

(TSFR1M

+

3.750%),

3/5/2028

b

903,674

Harbor

Freight

Tools

USA,

Inc.,

Term

Loan

806,778

8.181%, 

(TSFR1M

+

2.750%),

10/19/2027

b

799,808

IRB

Holding

Corporation,

Term

Loan

934,881

8.416%, 

(TSFR1M

+

3.000%),

12/15/2027

b

930,562

Light

&

Wonder

International,

Inc.,

Term

Loan

983,045

8.434%, 

(TSFR1M

+

3.000%),

4/14/2029

b

981,816

Petco

Health

&

Wellness

Company,

Inc.,

Term

Loan

418,332

8.902%, 

(TSFR3M

+

3.250%),

3/4/2028

b

413,103

PetSmart,

LLC,

Term

Loan

1,280,203

9.166%, 

(TSFR1M

+

3.750%),

2/12/2028

b

1,274,941

Pilot

Travel

Centers,

LLC,

Term

Loan

1,094,997

7.416%, 

(TSFR1M

+

2.000%),

8/6/2028

b

1,093,037

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

212

Principal

Amount

Bank

Loans

(1.3%)

a

Value

Consumer

Cyclical

(0.2%)

-

continued

Prime

Security

Services

Borrower,

LLC,

Term

Loan

$

1,302,640

8.192%, 

(TSFR1M

+

2.750%),

9/23/2026

b

$

1,300,282

Scientific

Games

Holdings,

LP,

Term

Loan

664,290

8.768%, 

(TSFR1M

+

3.500%),

4/4/2029

b

659,859

Staples,

Inc.,

Term

Loan

639,987

10.634%, 

(LIBOR

3M

+

5.000%),

4/12/2026

b

547,778

Stars

Group

Holdings

BV,

Term

Loan

383,091

7.902%, 

(TSFR3M

+

2.250%),

7/21/2026

b

382,574

Uber

Technologies,

Inc.,

Term

Loan

470,825

8.159%, 

(TSFR1M

+

2.750%),

3/3/2030

b

470,397

UFC

Holdings,

LLC,

Term

Loan

639,083

8.369%, 

(TSFR3M

+

2.750%),

4/29/2026

b

638,067

Total

21,068,899

Consumer

Non-Cyclical

(0.2%)

AI

Aqua

Merger

Sub,

Inc.,

Term

Loan

1,044,281

9.084%, 

(TSFR1M

+

3.750%),

7/30/2028

b

1,032,700

Alltech,

Inc.,

Term

Loan

395,871

9.431%, 

(TSFR1M

+

4.000%),

10/15/2028

b

381,520

Amneal

Pharmaceuticals,

LLC,

Term

Loan

897,618

8.931%, 

(TSFR1M

+

3.500%),

5/4/2025

b

879,666

Bausch

+

Lomb

Corporation,

Term

Loan

1,021,654

8.755%, 

(TSFR1M

+

3.250%),

5/10/2027

b

991,577

400,195

0.000%, 

(TSFR1M

+

4.000%),

9/14/2028

b,c,d,e

394,692

Chobani,

LLC,

Term

Loan

408,588

8.931%, 

(TSFR1M

+

3.500%),

10/23/2027

b

408,204

DaVita,

Inc.,

Term

Loan

327,476

7.181%, 

(TSFR1M

+

1.750%),

8/12/2026

b

323,180

Elanco

Animal

Health,

Inc.,

Term

Loan

516,552

7.180%, 

(TSFR1M

+

1.750%),

8/1/2027

b

506,148

Froneri

U.S.,

Inc.,

Term

Loan

995,708

7.666%, 

(TSFR3M

+

2.250%),

1/31/2027

b

987,444

Gainwell

Acquisition

Corporation,

Term

Loan

1,414,095

9.490%, 

(TSFR3M

+

4.000%),

10/1/2027

b

1,377,413

ICON

Luxembourg

SARL,

Term

Loan

1,035,094

7.902%, 

(TSFR3M

+

2.250%),

7/1/2028

b

1,034,266

Principal

Amount

Bank

Loans

(1.3%)

a

Value

Consumer

Non-Cyclical

(0.2%)

-

continued

Jazz

Financing

Lux

SARL,

Term

Loan

$

1,288,371

8.931%, 

(TSFR1M

+

3.500%),

5/5/2028

b

$

1,287,122

LifePoint

Health,

Inc.,

Term

Loan

500,725

0.000%, 

(TSFR1M

+

5.500%),

11/16/2028

b,c,d,e

485,703

1,316,646

9.377%, 

(TSFR3M

+

3.750%),

11/16/2025

b,d,e

1,312,261

Medline

Borrower,

LP,

Term

Loan

2,363,010

8.681%, 

(TSFR1M

+

3.250%),

10/21/2028

b

2,355,212

Organon

&

Company,

Term

Loan

1,186,348

8.442%, 

(TSFR1M

+

3.000%),

6/2/2028

b

1,182,789

Packaging

Coordinators

Midco,

Inc.,

Term

Loan

388,015

9.152%, 

(TSFR3M

+

3.500%),

11/30/2027

b

385,955

Phoenix

Newco,

Inc.,

Term

Loan

898,241

8.681%, 

(TSFR1M

+

3.250%),

11/15/2028

b

891,100

PRA

Health

Sciences,

Inc.,

Term

Loan

257,894

7.902%, 

(TSFR3M

+

2.250%),

7/1/2028

b

257,688

Reynolds

Consumer

Products,

LLC,

Term

Loan

742,843

7.166%, 

(TSFR1M

+

1.750%),

2/4/2027

b

741,580

Select

Medical

Corporation,

Term

Loan

656,355

8.316%, 

(TSFR1M

+

3.000%),

3/6/2027

b

653,894

Sotera

Health

Holdings,

LLC,

Term

Loan

817,400

8.181%, 

(TSFR1M

+

2.750%),

12/11/2026

b

809,022

Star

Parent,

Inc.,

Term

Loan

919,600

0.000%, 

(TSFR1M

+

4.000%),

9/28/2030

b,d,e

898,017

Total

19,577,153

Energy

(<0.1%)

Buckeye

Partners,

LP,

Term

Loan

651,303

7.666%, 

(TSFR1M

+

2.250%),

11/1/2026

b

650,326

CQP

Holdco,

LP,

Term

Loan

1,302,673

8.990%, 

(TSFR1M

+

3.500%),

6/4/2028

b

1,302,374

GIP

II

Blue

Holding,

LP,

Term

Loan

225,813

9.931%, 

(TSFR3M

+

4.500%),

9/29/2028

b

226,095

GIP

III

Stetson

I,

LP,

Term

Loan

347,392

9.666%, 

(TSFR1M

+

4.250%),

7/18/2025

b

347,030

Oryx

Midstream

Services

Permian

Basin,

LLC,

Term

Loan

298,678

8.692%, 

(TSFR3M

+

3.250%),

10/5/2028

b

298,213

Total

2,824,038

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

213

Principal

Amount

Bank

Loans

(1.3%)

a

Value

Financials

(0.1%)

Acrisure,

LLC,

Term

Loan

$

612,651

8.931%, 

(LIBOR

1M

+

3.500%),

2/15/2027

b

$

603,241

Alliant

Holdings

Intermediate,

LLC,

Term

Loan

255,396

8.831%, 

(TSFR1M

+

3.500%),

11/6/2027

b

254,837

AmWINS

Group,

Inc.,

Term

Loan

982,899

7.681%, 

(TSFR1M

+

2.250%),

2/19/2028

b

976,088

Asurion,

LLC,

Term

Loan

711,682

8.681%, 

(LIBOR

3M

+

3.250%),

12/23/2026

b

695,669

585,000

8.681%, 

(TSFR3M

+

3.250%),

7/31/2027

b

564,525

121,542

9.666%, 

(TSFR1M

+

4.250%),

8/19/2028

b

117,895

Edelman

Financial

Engines

Center,

LLC,

Term

Loan

268,256

8.931%, 

(TSFR1M

+

3.500%),

4/7/2028

b

265,104

First

Eagle

Holdings,

Inc.,

Term

Loan

268,138

7.990%, 

(TSFR3M

+

2.500%),

2/2/2027

b

265,553

FleetCor

Technologies

Operating

Company,

LLC,

Term  Loan

523,648

7.166%, 

(TSFR1M

+

1.750%),

4/30/2028

b

521,386

Focus

Financial

Partners,

LLC,

Term

Loan

446,617

8.566%, 

(TSFR1M

+

3.250%),

6/30/2028

b

445,067

Howden

Group

Holdings,

Ltd.,

Term

Loan

268,242

8.688%, 

(LIBOR

1M

+

3.250%),

11/12/2027

b

267,102

HUB

International,

Ltd.,

Term

Loan

1,159,000

9.584%, 

(TSFR1M

+

4.250%),

6/20/2030

b

1,160,935

Hudson

River

Trading,

LLC,

Term

Loan

281,117

8.631%, 

(TSFR1M

+

3.000%),

3/18/2028

b

279,059

Jane

Street

Group,

LLC,

Term

Loan

523,616

8.181%, 

(TSFR1M

+

2.750%),

1/26/2028

b

521,652

Sedgwick

Claims

Management

Services,

Inc.,

Term

Loan

435,312

9.066%, 

(TSFR1M

+

3.750%),

2/24/2028

b

434,172

Trans

Union,

LLC,

Term

Loan

813,051

7.681%, 

(TSFR1M

+

2.250%),

12/1/2028

b

811,937

USI,

Inc./NY,

Term

Loan

970,200

9.140%, 

(TSFR1M

+

3.750%),

11/22/2029

b

968,716

VFH

Parent,

LLC,

Term

Loan

396,000

8.418%, 

(TSFR1M

+

3.000%),

1/13/2029

b

392,452

Total

9,545,390

Principal

Amount

Bank

Loans

(1.3%)

a

Value

Technology

(0.3%)

Amentum

Government

Services

Holdings,

LLC,

Term  Loan

$

651,404

9.331%, 

(TSFR1M

+

4.000%),

2/15/2029

b

$

641,229

AthenaHealth

Group,

Inc.,

Term

Loan

1,258,660

8.568%, 

(PRIME

+

3.250%),

2/15/2029

b

1,233,097

Boxer

Parent

Company,

Inc.,

Term

Loan

994,254

9.181%, 

(TSFR1M

+

3.750%),

10/2/2025

b

992,742

Central

Parent,

Inc.,

Term

Loan

1,165,195

9.640%, 

(TSFR3M

+

4.250%),

7/6/2029

b

1,164,566

Cloud

Software

Group,

Inc.,

Term

Loan

706,450

9.990%, 

(TSFR3M

+

4.500%),

3/30/2029

b

678,340

Coherent

Corporation,

Term

Loan

601,512

8.181%, 

(TSFR3M

+

2.750%),

7/1/2029

b

598,883

CommScope,

Inc.,

Term

Loan

394,744

8.681%, 

(TSFR1M

+

3.250%),

4/4/2026

b

359,414

CoreLogic,

Inc.,

Term

Loan

513,073

8.931%, 

(TSFR1M

+

3.500%),

6/2/2028

b

473,095

Cornerstone

OnDemand,

Inc.,

Term

Loan

714,744

9.181%, 

(TSFR1M

+

3.750%),

10/15/2028

b

678,113

Dcert

Buyer,

Inc.,

Term

Loan

791,795

9.316%, 

(TSFR6M

+

4.000%),

10/16/2026

b

785,769

Dun

&

Bradstreet

Corporation,

Term

Loan

778,766

8.167%, 

(TSFR1M

+

2.750%),

2/8/2026

b

777,061

Entegris,

Inc.,

Term

Loan

554,460

7.871%, 

(TSFR3M

+

2.500%),

7/6/2029

b

554,288

Gen

Digital,

Inc.,

Term

Loan

752,368

7.416%, 

(TSFR1M

+

2.000%),

9/12/2029

b

749,359

Genesys

Cloud

Services

Holdings

II,

LLC,

Term

Loan

652,977

9.431%, 

(TSFR1M

+

4.000%),

12/1/2027

b

652,977

GTCR

W

Merger

Sub,

LLC,

Term

Loan

1,258,400

0.000%, 

(TSFR1M

+

3.000%),

9/20/2030

b,d,e

1,257,481

Informatica,

LLC,

Term

Loan

651,387

8.181%, 

(TSFR1M

+

2.750%),

10/29/2028

b

648,540

Magenta

Buyer,

LLC,

Term

Loan

704,621

10.631%, 

(TSFR3M

+

5.000%),

7/27/2028

b

522,202

McAfee

Corporation,

Term

Loan

1,341,416

9.180%, 

(TSFR1M

+

3.750%),

3/1/2029

b

1,308,297

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

214

Principal

Amount

Bank

Loans

(1.3%)

a

Value

Technology

(0.3%)

-

continued

Mitchell

International,

Inc.,

Term

Loan

$

817,698

9.181%, 

(TSFR1M

+

3.750%),

10/15/2028

b

$

803,152

MKS

Instruments,

Inc.,

Term

Loan

1,175,130

8.166%, 

(TSFR1M

+

2.750%),

8/17/2029

b

1,173,238

Open

Text

Corporation,

Term

Loan

1,010,365

8.166%, 

(TSFR1M

+

2.750%),

1/31/2030

b

1,009,910

Peraton

Corporation,

Term

Loan

2,024,298

9.166%, 

(TSFR1M

+

3.750%),

2/1/2028

b

2,017,983

Polaris

Newco,

LLC,

Term

Loan

1,175,010

9.431%, 

(TSFR3M

+

4.000%),

6/4/2028

b

1,123,392

Proofpoint,

Inc.,

Term

Loan

868,164

8.681%, 

(TSFR1M

+

3.250%),

8/31/2028

b

860,081

RealPage,

Inc.,

Term

Loan

664,222

8.431%, 

(TSFR1M

+

3.000%),

4/22/2028

b

655,919

Tempo

Acquisition,

LLC,

Term

Loan

638,526

8.316%, 

(TSFR1M

+

2.750%),

8/31/2028

b

638,526

UKG,

Inc.,

Term

Loan

1,391,834

8.618%, 

(TSFR3M

+

3.250%),

5/3/2026

b

1,386,768

Verscend

Holding

Corporation,

Term

Loan

957,410

9.431%, 

(TSFR1M

+

4.000%),

8/27/2025

b

956,385

Total

24,700,807

Transportation

(0.1%)

AAdvantage

Loyalty

IP,

Ltd.,

Term

Loan

1,507,365

10.338%, 

(TSFR3M

+

4.750%),

4/20/2028

b

1,551,079

Air

Canada,

Term

Loan

1,238,931

9.128%, 

(TSFR3M

+

3.500%),

8/11/2028

b

1,238,671

Apple

Bidco,

LLC,

Term

Loan

410,412

8.181%, 

(TSFR1M

+

2.750%),

9/23/2028

b

407,128

Brown

Group

Holding,

LLC,

Term

Loan

523,277

8.166%, 

(TSFR1M

+

2.750%),

6/7/2028

b

517,934

Genesee

&

Wyoming,

Inc.,

Term

Loan

651,251

7.490%, 

(TSFR3M

+

2.000%),

12/30/2026

b

649,825

Mileage

Plus

Holdings,

LLC,

Term

Loan

675,000

10.798%, 

(TSFR3M

+

5.250%),

6/20/2027

b

700,387

SkyMiles

IP,

Ltd.,

Term

Loan

1,184,050

9.076%, 

(TSFR3M

+

3.750%),

10/20/2027

b

1,225,054

Principal

Amount

Bank

Loans

(1.3%)

a

Value

Transportation

(0.1%)

-

continued

United

Airlines,

Inc.,

Term

Loan

$

810,528

9.182%, 

(TSFR3M

+

3.750%),

4/21/2028

b

$

810,714

Total

7,100,792

Utilities

(<0.1%)

PG&E

Corporation,

Term

Loan

957,998

8.431%, 

(TSFR1M

+

3.000%),

6/23/2025

b

957,337

Total

957,337

Total

Bank

Loans

(cost

$119,209,896)

119,446,122

Shares

Registered

Investment

Companies

(

40.9%

)

Value

U.S.

Affiliated  (40.3%)

21,712,781

Thrivent

Core

Emerging

Markets

Debt

Fund

160,891,706

5,867,275

Thrivent

Core

Emerging

Markets

Equity

Fund

48,815,728

10,549,418

Thrivent

Core

Low

Volatility

Equity

Fund

118,153,479

12,966,499

Thrivent

Core

Mid

Cap

Value

Fund

125,904,706

15,635,485

Thrivent

Core

Small

Cap

Value

Fund

140,719,369

37,945,041

Thrivent

Global

Stock

Portfolio

468,200,070

27,338,439

Thrivent

High

Yield

Portfolio

108,943,680

41,462,587

Thrivent

Income

Portfolio

343,343,387

30,984,040

Thrivent

International

Allocation

Portfolio

265,000,293

5,034,407

Thrivent

International

Index

Portfolio

60,414,393

46,029,861

Thrivent

Large

Cap

Value

Portfolio

917,260,052

21,025,596

Thrivent

Limited

Maturity

Bond

Portfolio

197,604,858

24,713,806

Thrivent

Mid

Cap

Stock

Portfolio

445,518,247

9,521,736

Thrivent

Small

Cap

Stock

Portfolio

151,895,491

Total

3,552,665,459

U.S.

Unaffiliated  (0.6%)

28,982

Communication

Services

Select

Sector

SPDR

Fund

1,900,350

11,405

Invesco

QQQ

Trust

Series

1

f

4,086,069

1,484

iShares

Biotechnology

ETF

181,478

42,598

SPDR

Bloomberg

High

Yield

Bond

ETF

f

3,850,859

90,834

SPDR

S&P

500

ETF

Trust

38,829,718

50,197

SPDR

S&P

Biotech

ETF

f

3,665,385

4,449

SPDR

S&P

Oil

&

Gas

Exploration

ETF

658,052

Total

53,171,911

Total

Registered

Investment

Companies

(cost

$3,295,017,238)

3,605,837,370

Shares

Common

Stock

(

25.7%

)

Value

Communications

Services

(2.1%)

80,388

Alphabet,

Inc.,

Class

A

g

10,519,574

579,370

Alphabet,

Inc.,

Class

C

g

76,389,934

56,836

Altice

USA,

Inc.

g

185,854

29,519

AMC

Networks,

Inc.

g

347,734

11,780

Bumble,

Inc.

g

175,758

98

Cable

One,

Inc.

60,333

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

215

Shares

Common

Stock

(25.7%)

Value

Communications

Services

(2.1%)

-

continued

135,106

Cargurus,

Inc.

g

$

2,367,057

222,754

Comcast

Corporation

9,876,912

20,205

DISH

Network

Corporation

g

118,401

988

Electronic

Arts,

Inc.

118,955

27,881

Emerald

Holding,

Inc.

g

126,022

11,384

Entravision

Communications

Corporation

41,552

30,681

Frontier

Communications

Parent,

Inc.

g

480,158

71,656

iHeartMedia,

Inc.

g

226,433

19,001

Imax

Corporation

g

367,099

49,930

Integral

Ad

Science

Holding

Corporation

g

593,668

8,806

Interpublic

Group

of

Companies,

Inc.

252,380

45,465

Liberty

Global

plc,

Class

A

g

778,361

93,503

Liberty

Global

plc,

Class

C

g

1,735,416

31,795

Liberty

Latin

America,

Ltd.,

Class

A

g

259,447

6,695

Live

Nation

Entertainment,

Inc.

g

555,953

384,824

Lumen

Technologies,

Inc.

g

546,450

5,001

Match

Group,

Inc.

g

195,914

138,627

Meta

Platforms,

Inc.

g

41,617,212

29,305

Netflix,

Inc.

g

11,065,568

1,637

Omnicom

Group,

Inc.

121,924

215,994

QuinStreet,

Inc.

g

1,937,466

1,713

Shutterstock,

Inc.

65,180

13,184

Sinclair,

Inc.

147,924

9,829

TechTarget,

Inc.

g

298,408

22,692

Telephone

and

Data

Systems,

Inc.

415,490

38,393

Trade

Desk,

Inc.

g

3,000,413

5,433

Tripadvisor,

Inc.

g

90,079

342,056

Verizon

Communications,

Inc.

11,086,035

59,951

Walt

Disney

Company

g

4,859,028

123,677

Warner

Brothers

Discovery,

Inc.

g

1,343,132

11,378

Windstream

Services,

LLC

g

108,091

788

Yelp,

Inc.

g

32,773

66,339

Ziff

Davis,

Inc.

g

4,225,131

Total

186,733,219

Consumer

Discretionary

(3.1%)

22,976

2U,

Inc.

g

56,751

598

Adient

plc

g

21,947

592,552

Amazon.com,

Inc.

g

75,325,210

4,379

American

Axle

&

Manufacturing

Holdings,

Inc.

g

31,791

59,399

American

Eagle

Outfitters,

Inc.

986,617

85,971

Aptiv

plc

g

8,475,881

25,169

Autoliv,

Inc.

2,428,305

179

AutoNation,

Inc.

g

27,100

6,650

Beazer

Homes

USA,

Inc.

g

165,651

3,500

Best

Buy

Company,

Inc.

243,145

2,325

Booking

Holdings,

Inc.

g

7,170,184

29,139

Boot

Barn

Holdings,

Inc.

g

2,365,795

5,158

Brunswick

Corporation

407,482

14,269

Buckle,

Inc.

476,442

5,298

Cedar

Fair,

LP

196,026

459

Cheesecake

Factory,

Inc.

13,908

2,934

Chegg,

Inc.

g

26,171

2,463

Chipotle

Mexican

Grill,

Inc.

g

4,511,797

226,316

Clarus

Corporation

1,710,949

24,763

Columbia

Sportswear

Company

1,834,938

20,147

Container

Store

Group,

Inc.

g

45,331

13,346

Cooper-Standard

Holdings,

Inc.

g

179,103

2,816

Crocs,

Inc.

g

248,456

Shares

Common

Stock

(25.7%)

Value

Consumer

Discretionary

(3.1%)

-

continued

7,719

Culp,

Inc.

g

$

43,072

14,320

D.R.

Horton,

Inc.

1,538,970

57,255

Dana,

Inc.

839,931

4,601

Darden

Restaurants,

Inc.

658,955

5,853

Deckers

Outdoor

Corporation

g

3,008,969

28,150

Domino's

Pizza,

Inc.

10,662,938

1,911

Dorman

Products,

Inc.

g

144,777

9,654

eBay,

Inc.

425,645

7,872

Etsy,

Inc.

g

508,374

287,573

Everi

Holdings,

Inc.

g

3,801,715

2,335

Expedia

Group,

Inc.

g

240,668

36,281

Five

Below,

Inc.

g

5,837,613

8,114

Ford

Motor

Company

100,776

43,765

Fox

Factory

Holding

Corporation

g

4,336,236

52,509

Gap,

Inc.

558,171

93,640

General

Motors

Company

3,087,311

32,558

Gentex

Corporation

1,059,437

33,793

Goodyear

Tire

&

Rubber

Company

g

420,047

1,175

Grand

Canyon

Education,

Inc.

g

137,334

10,677

Green

Brick

Partners,

Inc.

g

443,202

37,524

Harley-Davidson,

Inc.

1,240,543

31,915

Hilton

Worldwide

Holdings,

Inc.

4,792,995

94,367

Home

Depot,

Inc.

28,513,933

945

Hyatt

Hotels

Corporation

100,245

3,873

KB

Home

179,242

59,847

Laureate

Education,

Inc.

843,843

8,401

La-Z-Boy,

Inc.

259,423

13,280

Lear

Corporation

1,782,176

2,888

Lennar

Corporation

324,120

15,502

Lowe's

Companies,

Inc.

3,221,936

7,088

Lululemon

Athletica,

Inc.

g

2,733,204

5,515

M/I

Homes,

Inc.

g

463,481

591

Malibu

Boats,

Inc.

g

28,971

2,805

Marriott

International,

Inc./MD

551,351

409

Marriott

Vacations

Worldwide

Corporation

41,158

18,766

McDonald's

Corporation

4,943,715

13,996

Meritage

Homes

Corporation

1,712,970

12,390

MGM

Resorts

International

455,456

1,741

Modine

Manufacturing

Company

g

79,651

21,042

Mohawk

Industries,

Inc.

g

1,805,614

45,639

Nordstrom,

Inc.

f

681,847

586

NVR,

Inc.

g

3,494,494

5,738

ODP

Corporation

g

264,809

13,510

O'Reilly

Automotive,

Inc.

g

12,278,699

38,373

Papa

John's

International,

Inc.

2,617,806

6,703

PENN

Entertainment,

Inc.

g

153,834

14,887

Playa

Hotels

and

Resorts

NV

g

107,782

12,602

Polaris,

Inc.

1,312,372

7,997

Pool

Corporation

2,847,732

3,801

PulteGroup,

Inc.

281,464

162,016

Qurate

Retail,

Inc.

g

98,279

8,538

Ross

Stores,

Inc.

964,367

24,102

SeaWorld

Entertainment,

Inc.

g

1,114,717

4,987

Six

Flags

Entertainment

Corporation

g

117,244

28,411

Skyline

Champion

Corporation

g

1,810,349

7,313

Sonos,

Inc.

g

94,411

22,931

Sony

Group

Corporation

ADR

1,889,744

122,139

Stoneridge,

Inc.

g

2,451,330

2,034

Taylor

Morrison

Home

Corporation

g

86,669

132,379

Tesla,

Inc.

g

33,123,873

172,364

ThredUp,

Inc.

g

691,180

1,441

TopBuild

Corporation

g

362,556

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

216

Shares

Common

Stock

(25.7%)

Value

Consumer

Discretionary

(3.1%)

-

continued

37,469

Travel

+

Leisure

Company

$

1,376,236

24

Ulta

Beauty,

Inc.

g

9,587

18,731

Upbound

Group,

Inc.

551,628

18,651

Urban

Outfitters,

Inc.

g

609,701

285

Vail

Resorts,

Inc.

63,239

709

Visteon

Corporation

g

97,892

24,904

Wendy's

Company

508,291

11,089

Wingstop,

Inc.

1,994,246

30,257

Wyndham

Hotels

&

Resorts,

Inc.

2,104,072

Total

273,037,598

Consumer

Staples

(1.2%)

80,691

Altria

Group,

Inc.

3,393,057

13,759

Archer-Daniels-Midland

Company

1,037,704

117,372

BJ's

Wholesale

Club

Holdings,

Inc.

g

8,376,840

1,607

Boston

Beer

Company,

Inc.

g

625,975

4,148

Cal-Maine

Foods,

Inc.

200,846

13,049

Casey's

General

Stores,

Inc.

3,543,064

33,073

Celsius

Holdings,

Inc.

g

5,675,327

169,863

Coca-Cola

Company

9,508,931

56,341

Colgate-Palmolive

Company

4,006,408

147,055

Coty,

Inc.

g

1,613,193

2,473

Darling

Ingredients,

Inc.

g

129,091

36,957

e.l.f.

Beauty,

Inc.

g

4,058,987

27,345

Flowers

Foods,

Inc.

606,512

3,223

Hain

Celestial

Group,

Inc.

g

33,423

427

Hershey

Company

85,434

10,070

Hormel

Foods

Corporation

382,962

1,905

Ingredion,

Inc.

187,452

14,273

J

&

J

Snack

Foods

Corporation

2,335,776

2,410

John

B.

Sanfilippo

&

Son,

Inc.

238,108

56,121

Kenvue,

Inc.

1,126,910

51,585

Kimberly-Clark

Corporation

6,234,047

7,532

Kroger

Company

337,057

21,971

Lamb

Weston

Holdings,

Inc.

2,031,439

24,923

Lancaster

Colony

Corporation

4,113,043

60,331

Mondelez

International,

Inc.

4,186,971

1,575

PepsiCo,

Inc.

266,868

37,124

Philip

Morris

International,

Inc.

3,436,940

7,947

Pilgrim's

Pride

Corporation

g

181,430

1,732

PriceSmart,

Inc.

128,913

17,260

Primo

Water

Corporation

238,188

27,430

Procter

&

Gamble

Company

4,000,940

261

Seneca

Foods

Corporation

g

14,050

9,920

Simply

Good

Foods

Company

g

342,438

4,446

SpartanNash

Company

97,812

28,550

Sysco

Corporation

1,885,727

96,643

Turning

Point

Brands,

Inc.

2,231,487

5,067

Tyson

Foods,

Inc.

255,833

172,459

US

Foods

Holding

Corporation

g

6,846,622

110,752

Walmart,

Inc.

17,712,567

Total

101,708,372

Energy

(1.0%)

17,366

APA

Corporation

713,743

44,566

BP

plc

ADR

1,725,596

5,270

Cactus,

Inc.

264,607

6,850

California

Resources

Corporation

383,668

10,205

Cheniere

Energy,

Inc.

1,693,622

3,188

Chesapeake

Energy

Corporation

274,901

32,104

Chevron

Corporation

5,413,376

3,535

Chord

Energy

Corporation

572,917

673

Civitas

Resources,

Inc.

54,426

3,259

Comstock

Resources,

Inc.

35,947

Shares

Common

Stock

(25.7%)

Value

Energy

(1.0%)

-

continued

29,505

ConocoPhillips

$

3,534,699

6,020

CVR

Energy,

Inc.

204,861

30,209

Devon

Energy

Corporation

1,440,969

88,655

Enterprise

Products

Partners,

LP

2,426,487

4,254

Evolution

Petroleum

Corporation

29,097

75,466

Exxon

Mobil

Corporation

8,873,292

10,549

Gran

Tierra

Energy,

Inc.

g

73,210

285,595

Halliburton

Company

11,566,598

3,605

Helmerich

&

Payne,

Inc.

151,987

8,093

HF

Sinclair

Corporation

460,734

26,401

International

Seaways,

Inc.

1,188,045

94,694

Liberty

Energy,

Inc.

1,753,733

12,779

Magnolia

Oil

&

Gas

Corporation

292,767

13,668

Marathon

Oil

Corporation

365,619

47,490

Marathon

Petroleum

Corporation

7,187,137

64,810

Matador

Resources

Company

3,854,899

19,736

Murphy

Oil

Corporation

895,028

65,312

NOV,

Inc.

1,365,021

1,787

ONEOK,

Inc.

113,349

11,953

Ovintiv,

Inc.

568,604

33,443

Par

Pacific

Holdings,

Inc.

g

1,201,941

9,029

Patterson-UTI

Energy,

Inc.

124,961

16,952

PBF

Energy,

Inc.

907,441

14,555

Phillips

66

1,748,783

53,069

Pioneer

Natural

Resources

Company

12,181,989

106,338

ProPetro

Holding

Corporation

g

1,130,373

47,448

RPC,

Inc.

424,185

28,343

SM

Energy

Company

1,123,800

5,886

Solaris

Oilfield

Infrastructure,

Inc.

62,745

68,266

Talos

Energy,

Inc.

g

1,122,293

316,450

TechnipFMC

plc

6,436,593

32,501

U.S.

Silica

Holdings,

Inc.

g

456,314

46,886

Viper

Energy

Partners,

LP

1,307,182

10,876

Williams

Companies,

Inc.

366,412

Total

86,073,951

Financials

(3.6%)

16,726

Allstate

Corporation

1,863,444

19,498

Ally

Financial,

Inc.

520,207

17,418

Amalgamated

Financial

Corporation

299,938

6,988

Amerant

Bancorp,

Inc.

121,871

94,660

American

Express

Company

14,122,325

5,732

American

Financial

Group,

Inc.

640,092

32,632

American

International

Group,

Inc.

1,977,499

29,296

Ameriprise

Financial,

Inc.

9,658,305

2,133

Ameris

Bancorp

81,886

14,198

Annaly

Capital

Management,

Inc.

267,064

149

Apollo

Global

Management,

Inc.

13,374

5,833

Arch

Capital

Group,

Ltd.

g

464,948

15,828

Arthur

J.

Gallagher

&

Company

3,607,676

10,121

Artisan

Partners

Asset

Management,

Inc.

378,728

29,650

Associated

Banc-Corp

507,312

2,807

Assurant,

Inc.

403,029

7,018

Assured

Guaranty,

Ltd.

424,729

1,522

Atlantic

Union

Bankshares

Corporation

43,803

2,683

Axis

Capital

Holdings,

Ltd.

151,241

1,088

Axos

Financial,

Inc.

g

41,192

25,384

Banc

of

California,

Inc.

f

314,254

166,706

Bank

of

America

Corporation

4,564,410

3,779

Bank

of

Hawaii

Corporation

f

187,779

15,395

Bank

of

Marin

Bancorp

281,421

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

217

Shares

Common

Stock

(25.7%)

Value

Financials

(3.6%)

-

continued

5,545

Bank

of

N.T.

Butterfield

&

Son,

Ltd.

$

150,159

72,304

Bank

of

New

York

Mellon

Corporation

3,083,766

6,904

Bank

OZK

255,931

7,498

BankFinancial

Corporation

64,633

17,794

BankUnited,

Inc.

403,924

11,105

Banner

Corporation

470,630

2,413

BayCom

Corporation

46,354

14,117

BCB

Bancorp,

Inc.

157,263

24,933

Berkshire

Hathaway,

Inc.

g

8,734,030

16,233

Berkshire

Hills

Bancorp,

Inc.

325,472

4,207

BlackRock,

Inc.

2,719,783

4,600

Block,

Inc.

g

203,596

893

BOK

Financial

Corporation

71,422

13,032

Bridgewater

Bancshares,

Inc.

g

123,543

14,126

Brighthouse

Financial,

Inc.

g

691,326

23,463

Brookline

Bancorp,

Inc.

213,748

10,858

Business

First

Bancshares,

Inc.

203,696

3,543

Byline

Bancorp,

Inc.

69,833

11,410

Cadence

Bank

242,120

14,218

Capital

One

Financial

Corporation

1,379,857

56,974

Carlyle

Group,

Inc.

1,718,336

2,000

Cathay

General

Bancorp

69,520

48,634

Central

Pacific

Financial

Corporation

811,215

1,294

Central

Valley

Community

Bancorp

18,258

53,683

Charles

Schwab

Corporation

2,947,197

32,567

Chubb,

Ltd.

6,779,798

28,281

Cincinnati

Financial

Corporation

2,892,864

35,072

Citigroup,

Inc.

1,442,511

36,696

Citizens

Financial

Group,

Inc.

983,453

11,929

CNB

Financial

Corporation

216,034

36,111

Columbia

Banking

System,

Inc.

733,053

54,598

Comerica,

Inc.

2,268,547

8,986

Commerce

Bancshares,

Inc.

431,148

1,675

Community

Bank

System,

Inc.

70,702

19,069

Community

Trust

Bancorp,

Inc.

653,304

10,482

ConnectOne

Bancorp,

Inc.

186,894

4,663

CrossFirst

Bankshares,

Inc.

g

47,050

4,493

Cullen/Frost

Bankers,

Inc.

409,807

9,777

Customers

Bancorp,

Inc.

g

336,818

6,677

CVB

Financial

Corporation

110,638

27,341

Dime

Community

Bancshares,

Inc.

545,726

13,056

Discover

Financial

Services

1,131,041

22,176

Eagle

Bancorp,

Inc.

475,675

15,969

East

West

Bancorp,

Inc.

841,726

4,401

Eastern

Bankshares,

Inc.

55,189

19,127

Ellington

Residential

Mortgage

REIT

118,779

5,844

Employers

Holdings,

Inc.

233,468

10,904

Enova

International,

Inc.

g

554,686

10,072

Enterprise

Financial

Services

Corporation

377,700

5,760

Equity

Bancshares,

Inc.

138,643

3,492

Euronet

Worldwide,

Inc.

g

277,195

582

EVERTEC,

Inc.

21,639

23,372

F.N.B.

Corporation

252,184

23,008

FactSet

Research

Systems,

Inc.

10,060,478

70,926

Federated

Hermes,

Inc.

2,402,264

8,202

Fidelity

National

Information

Services,

Inc.

453,325

6,084

Fifth

Third

Bancorp

154,108

16,041

Financial

Institutions,

Inc.

269,970

8,353

First

Bancorp/Puerto

Rico

112,431

164

First

Citizens

BancShares,

Inc./NC

226,336

Shares

Common

Stock

(25.7%)

Value

Financials

(3.6%)

-

continued

3,896

First

Commonwealth

Financial

Corporation

$

47,570

1,046

First

Financial

Bancorp

20,502

7,040

First

Financial

Bankshares,

Inc.

176,845

7,550

First

Financial

Corporation

255,266

34,590

First

Foundation,

Inc.

210,307

3,235

First

Hawaiian,

Inc.

58,392

67,050

First

Horizon

Corporation

738,891

7,260

First

Internet

Bancorp

117,685

1,899

First

Interstate

BancSystem,

Inc.

47,361

5,528

First

Merchants

Corporation

153,789

2,421

First

Mid-Illinois

Bancshares,

Inc.

64,302

14,996

First

of

Long

Island

Corporation

172,604

16,673

Fiserv,

Inc.

g

1,883,382

1,069

Five

Star

Bancorp

21,444

2,400

FleetCor

Technologies,

Inc.

g

612,816

20,331

Flushing

Financial

Corporation

266,946

35,889

Fulton

Financial

Corporation

434,616

39,057

Genworth

Financial,

Inc.

g

228,874

15,467

Glacier

Bancorp,

Inc.

440,810

2,729

Global

Life,

Inc.

296,724

7,781

Global

Payments,

Inc.

897,850

11,482

Great

Southern

Bancorp,

Inc.

550,217

10,683

Green

Dot

Corporation

g

148,814

30,286

Hamilton

Lane,

Inc.

2,739,066

4,127

Hancock

Whitney

Corporation

152,658

48,384

Hanmi

Financial

Corporation

785,272

8,244

Hanover

Insurance

Group,

Inc.

914,919

8,779

Hartford

Financial

Services

Group,

Inc.

622,519

36,366

Heartland

Financial

USA,

Inc.

1,070,251

42,523

Heritage

Commerce

Corporation

360,170

30,479

Heritage

Financial

Corporation

497,113

12,277

Home

BancShares,

Inc.

257,080

23,869

HomeStreet,

Inc.

f

185,940

17,432

Hometrust

Bancshares,

Inc.

377,751

101,710

Hope

Bancorp,

Inc.

900,134

25,371

Horizon

Bancorp,

Inc.

270,962

47,544

Houlihan

Lokey,

Inc.

5,092,913

26,108

Huntington

Bancshares,

Inc.

271,523

7,584

Independent

Bank

Corporation

372,299

17,935

Independent

Bank

Corporation/MI

328,928

152,730

Intercontinental

Exchange,

Inc.

16,803,355

1,650

International

Bancshares

Corporation

71,511

34,932

Invesco

Mortgage

Capital,

Inc.

349,669

30,873

Invesco,

Ltd.

448,276

131,811

J.P.

Morgan

Chase

&

Company

19,115,231

1,777

Jack

Henry

&

Associates,

Inc.

268,576

67,944

Janus

Henderson

Group

plc

1,754,314

11,993

Kearny

Financial

Corporation/MD

83,112

25,249

KeyCorp

271,679

28,411

Kinsale

Capital

Group,

Inc.

11,765,847

13,147

Lazard,

Ltd.

407,688

7,300

Loews

Corporation

462,163

14,348

M&T

Bank

Corporation

1,814,305

4,109

Marsh

&

McLennan

Companies,

Inc.

781,943

86,748

Mastercard,

Inc.

34,344,401

3,429

Mercantile

Bank

Corporation

105,990

27,131

MetLife,

Inc.

1,706,811

15,274

Metropolitan

Bank

Holding

Corporation

g

554,141

52,432

MFA

Financial,

Inc.

503,872

205,190

MGIC

Investment

Corporation

3,424,621

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

218

Shares

Common

Stock

(25.7%)

Value

Financials

(3.6%)

-

continued

2,814

Mid

Penn

Bancorp,

Inc.

$

56,646

16,484

Midland

States

Bancorp,

Inc.

338,581

28,712

MidWestOne

Financial

Group,

Inc.

583,715

15,258

Morgan

Stanley

1,246,121

35,657

Mr.

Cooper

Group,

Inc.

g

1,909,789

9,753

MSCI,

Inc.

5,004,069

2,275

MVB

Financial

Corporation

51,370

84,024

Nasdaq,

Inc.

4,082,726

30,540

Navient

Corporation

525,899

64,498

New

York

Community

Bancorp,

Inc.

731,407

76,149

NMI

Holdings,

Inc.

g

2,062,876

887

Northrim

BanCorp,

Inc.

35,143

65,186

NU

Holdings,

Ltd./Cayman

Islands

g

472,599

22,099

OceanFirst

Financial

Corporation

319,773

9,952

OFG

Bancorp

297,167

18,967

Old

National

Bancorp

275,780

15,691

Old

Republic

International

Corporation

422,716

8,174

Old

Second

Bancorp,

Inc.

111,248

43,137

OneMain

Holdings,

Inc.

1,729,362

2,387

Pacific

Premier

Bancorp,

Inc.

51,941

290,227

PayPal

Holdings,

Inc.

g

16,966,670

4,692

PCB

Bancorp

72,491

3,754

PennyMac

Financial

Services,

Inc.

250,016

5,319

Pinnacle

Financial

Partners,

Inc.

356,586

1,261

PNC

Financial

Services

Group,

Inc.

154,813

10,377

Popular,

Inc.

653,855

16,766

Premier

Financial

Corporation

286,028

1,424

PROG

Holdings,

Inc.

g

47,291

6,578

Prosperity

Bancshares,

Inc.

359,027

12,545

Provident

Financial

Services,

Inc.

191,813

4,908

Prudential

Financial,

Inc.

465,720

42,849

Radian

Group,

Inc.

1,075,938

103,422

Raymond

James

Financial,

Inc.

10,386,671

8,438

Regions

Financial

Corporation

145,134

112

Reinsurance

Group

of

America,

Inc.

16,261

209,570

Rithm

Capital

Corporation

1,946,905

27,824

RLI

Corporation

3,781,003

4,008

S&T

Bancorp,

Inc.

108,537

14,952

Sandy

Spring

Bancorp,

Inc.

320,421

53,114

SEI

Investments

Company

3,199,056

9,922

Shore

Bancshares,

Inc.

104,379

2,910

Simmons

First

National

Corporation

49,354

2,177

SmartFinancial,

Inc.

46,522

1,238

Southern

First

Bancshares,

Inc.

g

33,352

5,637

SouthState

Corporation

379,708

8,430

Synchrony

Financial

257,705

24,377

Synovus

Financial

Corporation

677,681

3,798

T.

Rowe

Price

Group,

Inc.

398,296

7,401

Territorial

Bancorp,

Inc.

67,275

30,268

TPG,

Inc.

911,672

31,505

Tradeweb

Markets,

Inc.

2,526,701

62,264

Triumph

Financial,

Inc.

g

4,034,085

13,559

TrustCo

Bank

Corporation

NY

370,025

16,506

Trustmark

Corporation

358,675

38,492

Two

Harbors

Investment

Corporation

509,634

5,471

U.S.

Bancorp

180,871

3,916

UMB

Financial

Corporation

242,988

8,305

United

Bankshares,

Inc.

229,135

5,621

United

Community

Banks,

Inc.

142,830

Shares

Common

Stock

(25.7%)

Value

Financials

(3.6%)

-

continued

15,411

Univest

Financial

Corporation

$

267,843

48,060

Unum

Group

2,364,071

38,589

Valley

National

Bancorp

330,322

23,419

Veritex

Holdings,

Inc.

420,371

57,973

Virtu

Financial,

Inc.

1,001,194

4,726

Visa,

Inc.

1,087,027

4,732

Voya

Financial,

Inc.

314,441

4,722

W.R.

Berkley

Corporation

299,800

2,870

Walker

&

Dunlop,

Inc.

213,069

16,004

Washington

Federal,

Inc.

410,022

226

Webster

Financial

Corporation

9,110

127,583

Wells

Fargo

&

Company

5,213,041

8,372

Westamerica

Bancorporation

362,089

95,561

Western

Alliance

Bancorp

4,392,939

170,587

Western

Union

Company

2,248,337

1,840

WEX,

Inc.

g

346,086

288

Willis

Towers

Watson

plc

60,180

4,056

Wintrust

Financial

Corporation

306,228

1,318

WSFS

Financial

Corporation

48,107

31,754

Zions

Bancorp

NA

1,107,897

Total

313,876,559

Health

Care

(3.4%)

71,899

Abbott

Laboratories

6,963,418

4,324

ACADIA

Pharmaceuticals,

Inc.

g

90,112

31,547

Agilent

Technologies,

Inc.

3,527,586

3,054

Agiliti,

Inc.

g

19,820

11,388

Agios

Pharmaceuticals,

Inc.

g

281,853

25,065

Aldeyra

Therapeutics,

Inc.

g

167,434

1,206

Align

Technology,

Inc.

g

368,216

58,040

Alkermes

plc

g

1,625,700

326

Alnylam

Pharmaceuticals,

Inc.

g

57,735

43,993

Amgen,

Inc.

11,823,559

17,331

Amicus

Therapeutics,

Inc.

g

210,745

7,388

Amphastar

Pharmaceuticals,

Inc.

g

339,774

7,559

Anika

Therapeutics,

Inc.

g

140,824

14,784

Apellis

Pharmaceuticals,

Inc.

g

562,383

11,684

Argenx

SE

ADR

g

5,744,205

19,461

Ascendis

Pharma

AS

ADR

g

1,822,328

14,904

AstraZeneca

plc

ADR

1,009,299

8,119

Avanos

Medical,

Inc.

g

164,166

167,245

Avantor,

Inc.

g

3,525,525

37,449

Azenta,

Inc.

g

1,879,565

100,637

Baxter

International,

Inc.

3,798,040

8,847

Biogen,

Inc.

g

2,273,767

446

BioMarin

Pharmaceutical,

Inc.

g

39,462

571

Bio-Rad

Laboratories,

Inc.

g

204,675

52,974

Bio-Techne

Corporation

3,605,940

2,182

Blueprint

Medicines

Corporation

g

109,580

6,632

Bruker

Corporation

413,174

2,762

Cardinal

Health,

Inc.

239,797

1,206

Cencora,

Inc.

217,044

6,394

Centene

Corporation

g

440,419

7,865

Charles

River

Laboratories

International,

Inc.

g

1,541,383

8,667

Cigna

Group

2,479,369

13,460

Codexis,

Inc.

g

25,439

20,047

Community

Health

Systems,

Inc.

g

58,136

8,783

Cooper

Companies,

Inc.

2,793,082

41,073

CVS

Health

Corporation

2,867,717

78,745

Danaher

Corporation

19,536,634

22,024

Deciphera

Pharmaceuticals,

Inc.

g

280,145

82,943

Dentsply

Sirona,

Inc.

2,833,333

31,105

Dexcom,

Inc.

g

2,902,096

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

219

Shares

Common

Stock

(25.7%)

Value

Health

Care

(3.4%)

-

continued

46,032

Dynavax

Technologies

Corporation

g

$

679,893

38,714

Edwards

Lifesciences

Corporation

g

2,682,106

266,209

Elanco

Animal

Health,

Inc.

g

2,992,189

5,881

Elevance

Health,

Inc.

2,560,705

3,376

Eli

Lilly

&

Company

1,813,351

4,346

Enanta

Pharmaceuticals,

Inc.

g

48,545

67,002

Enovis

Corporation

g

3,533,015

23,536

Exelixis,

Inc.

g

514,262

31,876

Gilead

Sciences,

Inc.

2,388,787

7,679

Globus

Medical,

Inc.

g

381,262

23,302

GoodRx

Holdings,

Inc.

g

131,190

69,387

Halozyme

Therapeutics,

Inc.

g

2,650,583

6,371

HCA

Healthcare,

Inc.

1,567,139

21,777

Hologic,

Inc.

g

1,511,324

8,690

ICON

plc

g

2,139,913

261

IDEXX

Laboratories,

Inc.

g

114,127

36,452

Immunocore

Holdings

plc

ADR

g

1,891,859

65,472

Inmode,

Ltd.

g

1,994,277

8,800

Inspire

Medical

Systems,

Inc.

g

1,746,272

43,218

Intuitive

Surgical,

Inc.

g

12,632,189

1,945

IQVIA

Holding,

Inc.

g

382,679

3,978

Jazz

Pharmaceuticals,

Inc.

g

514,912

23,013

Johnson

&

Johnson

3,584,275

1,344

Kiniksa

Pharmaceuticals,

Ltd.

g

23,345

10,041

Kura

Oncology,

Inc.

g

91,574

52,484

Laboratory

Corporation

of

America

Holdings

10,551,908

50,287

Lantheus

Holdings,

Inc.

g

3,493,941

324

Ligand

Pharmaceuticals,

Inc.

g

19,414

4,683

LivaNova

plc

g

247,637

377,309

Maravai

LifeSciences

Holdings,

Inc.

g

3,773,090

1,507

Masimo

Corporation

g

132,134

150

Medpace

Holdings,

Inc.

g

36,320

212,535

Medtronic

plc

16,654,243

92,054

Merck

&

Company,

Inc.

9,476,959

33,254

Molina

Healthcare,

Inc.

g

10,903,654

10,543

Myriad

Genetics,

Inc.

g

169,110

30,810

Natera,

Inc.

g

1,363,343

9,641

National

HealthCare

Corporation

616,831

121,324

Novo

Nordisk

AS

ADR

g

11,033,205

10,122

OraSure

Technologies,

Inc.

g

60,023

12,521

Pacira

Pharmaceuticals,

Inc.

g

384,144

13,494

Pediatrix

Medical

Group,

Inc.

g

171,509

92,278

Pfizer,

Inc.

3,060,861

78,803

Phreesia,

Inc.

g

1,472,040

118,785

Point

Biopharma

Global,

Inc.

g

792,296

164,591

Progyny,

Inc.

g

5,599,386

14,286

Qiagen

NV

g

578,583

1,912

QuidelOrtho

Corporation

g

139,652

145,005

R1

RCM,

Inc.

g

2,185,225

30,011

Repligen

Corporation

g

4,772,049

18,016

Revance

Therapeutics,

Inc.

g

206,644

20,872

Rocket

Pharmaceuticals,

Inc.

g

427,667

4,186

Royalty

Pharma

plc

113,608

15,505

Sarepta

Therapeutics,

Inc.

g

1,879,516

158,713

scPharmaceuticals,

Inc.

g

1,130,037

9,504

Sensus

Healthcare,

Inc.

g

26,326

13,460

ShockWave

Medical,

Inc.

g

2,679,886

3,272

Teleflex,

Inc.

642,654

17,076

TG

Therapeutics,

Inc.

g

142,755

13,664

Thermo

Fisher

Scientific,

Inc.

6,916,307

58,056

UnitedHealth

Group,

Inc.

29,271,255

Shares

Common

Stock

(25.7%)

Value

Health

Care

(3.4%)

-

continued

8,015

Vanda

Pharmaceuticals,

Inc.

g

$

34,625

20,136

Veeva

Systems,

Inc.

g

4,096,669

29,556

Veracyte,

Inc.

g

659,985

77,286

Vericel

Corporation

g

2,590,627

4,666

Vertex

Pharmaceuticals,

Inc.

g

1,622,555

16,336

Viemed

Healthcare,

Inc.

g

109,941

22,791

Vor

BioPharma,

Inc.

f,g

48,317

12,661

Waters

Corporation

g

3,471,773

2,455

West

Pharmaceutical

Services,

Inc.

921,141

7,678

Zentalis

Pharmaceuticals,

Inc.

g

154,021

17,632

Zimmer

Biomet

Holdings,

Inc.

1,978,663

124,592

Zoetis,

Inc.

21,676,516

Total

304,042,297

Industrials

(2.8%)

10,346

A.O.

Smith

Corporation

684,181

5,552

Acuity

Brands,

Inc.

945,561

30,536

Advanced

Drainage

Systems,

Inc.

3,475,913

13,786

AGCO

Corporation

1,630,608

38,942

Air

Lease

Corporation

1,534,704

42,663

Alaska

Air

Group,

Inc.

g

1,581,944

2,593

American

Woodmark

Corporation

g

196,057

37,195

AMETEK,

Inc.

5,495,933

2,087

Apogee

Enterprises,

Inc.

98,256

20,801

Armstrong

World

Industries,

Inc.

1,497,672

68,229

ASGN,

Inc.

g

5,572,945

23,527

Automatic

Data

Processing,

Inc.

5,660,126

851

Axon

Enterprise,

Inc.

g

169,340

8,567

AZZ,

Inc.

390,484

101,836

Badger

Infrastructure

Solutions,

Ltd.

2,600,914

6,585

Barnes

Group,

Inc.

223,692

24,281

Beacon

Roofing

Supply,

Inc.

g

1,873,765

5,110

Boise

Cascade

Company

526,534

6,499

Builders

FirstSource,

Inc.

g

809,061

14,383

Carlisle

Companies,

Inc.

3,728,937

2,222

Caterpillar,

Inc.

606,606

27,768

Chart

Industries,

Inc.

g

4,696,124

3,703

Cimpress

plc

g

259,247

3,318

Cintas

Corporation

1,595,991

118,982

CNH

Industrial

NV

1,439,682

740

Columbus

McKinnon

Corporation

25,833

51,043

Conduent

Incorporated

g

177,630

5,636

CSW

Industrials,

Inc.

987,653

197,236

CSX

Corporation

6,065,007

20,508

Cummins,

Inc.

4,685,258

10,414

Curtiss-Wright

Corporation

2,037,291

5,545

Daseke,

Inc.

g

28,446

8,295

Deere

&

Company

3,130,367

46,936

Delta

Air

Lines,

Inc.

1,736,632

10,819

Donaldson

Company,

Inc.

645,245

70

Dover

Corporation

9,766

12,869

EMCOR

Group,

Inc.

2,707,509

520

Equifax,

Inc.

95,254

188,105

ExlService

Holdings,

Inc.

g

5,274,464

4,103

Expeditors

International

of

Washington,

Inc.

470,327

231,766

Fastenal

Company

12,663,694

31,273

Ferguson

plc

5,143,470

118,135

First

Advantage

Corporation

1,629,082

32,985

Flowserve

Corporation

1,311,813

7,072

Fluor

Corporation

g

259,542

2,878

Forrester

Research,

Inc.

g

83,174

18,391

Fortune

Brands

Innovations,

Inc.

1,143,185

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

220

Shares

Common

Stock

(25.7%)

Value

Industrials

(2.8%)

-

continued

9,781

Gates

Industrial

Corporation

plc

g

$

113,557

10,287

General

Dynamics

Corporation

2,273,118

8,637

Gibraltar

Industries,

Inc.

g

583,084

319

GMS,

Inc.

g

20,406

1,412

Gorman-Rupp

Company

46,455

5,023

Greenbrier

Companies,

Inc.

200,920

3,515

Griffon

Corporation

139,440

805

Heidrick

&

Struggles

International,

Inc.

20,141

41,315

Helios

Technologies,

Inc.

2,292,156

6,444

Herc

Holdings,

Inc.

766,449

20,636

Hillman

Solutions

Corporation

g

170,247

7,414

Honeywell

International,

Inc.

1,369,662

212,588

Howmet

Aerospace,

Inc.

9,832,195

4,210

Hubbell,

Inc.

1,319,456

3,682

IDEX

Corporation

765,930

1,593

Ingersoll

Rand,

Inc.

101,506

9,616

Interface,

Inc.

94,333

273,010

Janus

International

Group,

Inc.

g

2,921,207

5,685

JB

Hunt

Transport

Services,

Inc.

1,071,736

50,789

JetBlue

Airways

Corporation

g

233,629

18,374

Johnson

Controls

International

plc

977,681

16,583

Kennametal,

Inc.

412,585

11,224

L3Harris

Technologies,

Inc.

1,954,323

23,020

Lincoln

Electric

Holdings,

Inc.

4,184,806

3,859

ManpowerGroup,

Inc.

282,942

36,189

Masco

Corporation

1,934,302

34,166

Masterbrand,

Inc.

g

415,117

6,459

Matson,

Inc.

573,042

3,682

Maximus,

Inc.

274,972

40,278

Middleby

Corporation

g

5,155,584

5,128

Miller

Industries,

Inc.

201,069

1,542

Moog,

Inc.

174,184

9,493

MSC

Industrial

Direct

Company,

Inc.

931,738

2,309

MYR

Group,

Inc.

g

311,161

725

National

Presto

Industries,

Inc.

52,534

25,609

Northrop

Grumman

Corporation

11,272,826

22,168

nVent

Electric

plc

1,174,682

8,956

Old

Dominion

Freight

Line,

Inc.

3,664,258

59,536

Oshkosh

Corporation

5,681,520

3,928

Otis

Worldwide

Corporation

315,458

47,594

Owens

Corning,

Inc.

6,492,298

17,671

PACCAR,

Inc.

1,502,388

28,110

Parker-Hannifin

Corporation

10,949,407

1,463

Paycom

Software,

Inc.

379,312

1,627

Paylocity

Holding

Corporation

g

295,626

86,719

Pentair

plc

5,615,055

1,366

Quanta

Services,

Inc.

255,538

69,992

RB

Global,

Inc.

4,374,500

26,514

Regal

Rexnord

Corporation

3,788,320

5,247

Republic

Services,

Inc.

747,750

9,863

Resideo

Technologies,

Inc.

g

155,835

11,552

Saia,

Inc.

g

4,605,205

10,065

Schneider

National,

Inc.

278,700

20,429

Simpson

Manufacturing

Company,

Inc.

3,060,468

9,375

SiteOne

Landscape

Supply,

Inc.

g

1,532,344

22,649

SkyWest,

Inc.

g

949,899

968

Snap-On,

Inc.

246,898

24,829

Southwest

Airlines

Company

672,121

15,280

Standex

International

Corporation

2,226,143

2,771

Sterling

Construction

Company,

Inc.

g

203,613

3,155

Tennant

Company

233,943

Shares

Common

Stock

(25.7%)

Value

Industrials

(2.8%)

-

continued

14,696

Terex

Corporation

$

846,784

9,685

Textron,

Inc.

756,786

35,739

Timken

Company

2,626,459

8,185

Titan

International,

Inc.

g

109,925

7,602

Titan

Machinery,

Inc.

g

202,061

5,719

Trane

Technologies

plc

1,160,442

45,124

TransUnion

3,239,452

12,860

Trex

Company,

Inc.

g

792,562

341,227

Uber

Technologies,

Inc.

g

15,693,030

165

UniFirst

Corporation/MA

26,897

16,138

United

Parcel

Service,

Inc.

2,515,430

10,051

United

Rentals,

Inc.

4,468,373

1,955

Valmont

Industries,

Inc.

469,611

4,445

Vertiv

Holdings

Company

165,354

16,256

Wabash

National

Corporation

343,327

103,768

WillScot

Mobile

Mini

Holdings

Corporation

g

4,315,711

Total

248,182,897

Information

Technology

(6.7%)

41,378

8x8,

Inc.

g

104,273

43,728

Adobe,

Inc.

g

22,296,907

161,656

Advanced

Micro

Devices,

Inc.

g

16,621,470

3,038

Alarm.com

Holdings,

Inc.

g

185,743

5,265

Alpha

and

Omega

Semiconductor,

Ltd.

g

157,108

2,563

American

Software,

Inc.

29,372

16,318

Amkor

Technology,

Inc.

368,787

78,567

Amphenol

Corporation

6,598,842

727

ANSYS,

Inc.

g

216,319

389,683

Apple,

Inc.

66,717,626

89,373

Applied

Materials,

Inc.

12,373,692

16,738

Arista

Networks,

Inc.

g

3,078,620

15,920

Autodesk,

Inc.

g

3,294,007

897

Broadcom,

Inc.

745,030

141,343

Calix,

Inc.

g

6,479,163

1,190

CDW

Corporation

240,094

10,700

Ciena

Corporation

g

505,682

527,604

Cisco

Systems,

Inc.

28,363,991

66,758

Cognex

Corporation

2,833,210

354

Cognizant

Technology

Solutions

Corporation

23,980

6,046

Cohu,

Inc.

g

208,224

50,458

CommScope

Holding

Company,

Inc.

g

169,539

341

CommVault

Systems,

Inc.

g

23,055

2,516

Corning,

Inc.

76,663

10,407

Crane

NXT

Company

578,317

4,816

Datadog,

Inc.

g

438,689

40,682

Descartes

Systems

Group,

Inc.

g

2,985,245

8,051

DocuSign,

Inc.

g

338,142

24,322

Dolby

Laboratories,

Inc.

1,927,762

159,034

Dropbox,

Inc.

g

4,330,496

60,733

Dynatrace

Holdings,

LLC

g

2,838,053

2,452

Elastic

NV

g

199,200

1,295

Enphase

Energy,

Inc.

g

155,594

25,900

Entegris,

Inc.

2,432,269

10,136

EPAM

Systems,

Inc.

g

2,591,674

1,645

F5,

Inc.

g

265,075

81

Fair

Isaac

Corporation

g

70,351

19,878

Five9,

Inc.

g

1,278,155

111,730

Flex,

Ltd.

g

3,014,475

1,363

FormFactor,

Inc.

g

47,623

114,528

Fortinet,

Inc.

g

6,720,503

41

Gartner,

Inc.

g

14,088

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

221

Shares

Common

Stock

(25.7%)

Value

Information

Technology

(6.7%)

-

continued

12,793

Gilat

Satellite

Networks,

Ltd.

g

$

82,259

4,981

GoDaddy,

Inc.

g

370,985

182,294

Grid

Dynamics

Holdings,

Inc.

g

2,220,341

75,098

Guidewire

Software,

Inc.

g

6,758,820

105,759

Hackett

Group,

Inc.

2,494,855

35,767

Hewlett

Packard

Enterprise

Company

621,273

338

HP,

Inc.

8,687

6,070

HubSpot,

Inc.

g

2,989,475

752

Insight

Enterprises,

Inc.

g

109,416

7,410

IPG

Photonics

Corporation

g

752,411

6,686

JFrog,

Ltd.

g

169,557

66,835

Juniper

Networks,

Inc.

1,857,345

6,904

Keysight

Technologies,

Inc.

g

913,468

6,277

KLA

Corporation

2,879,009

14,324

Knowles

Corporation

g

212,138

30,914

Kyndryl

Holdings,

Inc.

g

466,801

5,656

Lam

Research

Corporation

3,545,011

73,393

Lattice

Semiconductor

Corporation

g

6,306,660

7,260

Littelfuse,

Inc.

1,795,543

21,396

LiveRamp

Holding,

Inc.

g

617,061

12,132

Marvell

Technology,

Inc.

656,705

9,266

MaxLinear,

Inc.

g

206,169

22,282

Microchip

Technology,

Inc.

1,739,110

385,374

Microsoft

Corporation

121,681,841

9,820

MKS

Instruments,

Inc.

849,823

8,743

Monolithic

Power

Systems,

Inc.

4,039,266

577

Motorola

Solutions,

Inc.

157,082

12,433

NCR

Corporation

g

335,318

8,933

NetApp,

Inc.

677,836

1,221

NICE,

Ltd.

ADR

g

207,570

30,226

Nova,

Ltd.

g

3,398,611

148,303

NVIDIA

Corporation

64,510,322

3,114

ON

Semiconductor

Corporation

g

289,446

820

OSI

Systems,

Inc.

g

96,793

83,021

PagerDuty,

Inc.

g

1,867,142

23,563

Palo

Alto

Networks,

Inc.

g

5,524,110

31,213

PDF

Solutions,

Inc.

g

1,011,301

3,159

Plexus

Corporation

g

293,724

26,862

PTC,

Inc.

g

3,805,808

19,026

Q2

Holdings,

Inc.

g

613,969

3,320

Qorvo,

Inc.

g

316,960

198,026

QUALCOMM,

Inc.

21,992,768

26,868

Rackspace

Technology,

Inc.

f,g

63,140

8,019

Rapid7,

Inc.

g

367,110

10,909

RingCentral,

Inc.

g

323,234

3,444

Roper

Industries,

Inc.

1,667,860

112,592

Salesforce,

Inc.

g

22,831,406

61,612

Samsung

Electronics

Company,

Ltd.

3,114,741

2,759

Sanmina

Corporation

g

149,759

41,233

ServiceNow,

Inc.

g

23,047,598

12,694

Silicon

Laboratories,

Inc.

g

1,471,108

7,718

Skyworks

Solutions,

Inc.

760,918

17,923

SolarWinds

Corporation

g

169,193

8,289

Sprinklr,

Inc.

g

114,720

151,684

Sprout

Social,

Inc.

g

7,565,998

8,898

SPS

Commerce,

Inc.

g

1,518,088

11,554

Synopsys,

Inc.

g

5,302,939

39,242

TE

Connectivity,

Ltd.

4,847,564

844

Teledyne

Technologies,

Inc.

g

344,842

16,093

Teradata

Corporation

g

724,507

207

Teradyne,

Inc.

20,795

40,927

Texas

Instruments,

Inc.

6,507,802

Shares

Common

Stock

(25.7%)

Value

Information

Technology

(6.7%)

-

continued

3,608

Trimble,

Inc.

g

$

194,327

208,043

TTM

Technologies,

Inc.

g

2,679,594

36,181

Tyler

Technologies,

Inc.

g

13,970,931

52,564

Unisys

Corporation

g

181,346

9,037

Universal

Display

Corporation

1,418,719

21,162

Upland

Software,

Inc.

g

97,768

95,787

Varonis

Systems,

Inc.

g

2,925,335

10,215

Verint

Systems,

Inc.

g

234,843

21,775

VeriSign,

Inc.

g

4,410,091

35,431

Viavi

Solutions,

Inc.

g

323,839

37,969

Vishay

Intertechnology,

Inc.

938,594

41,154

Vontier

Corporation

1,272,482

37,990

Wolfspeed,

Inc.

g

1,447,419

44,665

Workiva,

Inc.

g

4,526,351

7,240

Xerox

Holdings

Corporation

113,596

30,691

Yext,

Inc.

g

194,274

5,153

Zoom

Video

Communications,

Inc.

g

360,401

Total

587,583,129

Materials

(0.6%)

1,749

Albemarle

Corporation

297,400

4,965

Alcoa

Corporation

144,283

2,199

AptarGroup,

Inc.

274,963

59,993

Axalta

Coating

Systems,

Ltd.

g

1,613,812

5,958

Ball

Corporation

296,589

1,536

Berry

Plastics

Group,

Inc.

95,094

3,213

Carpenter

Technology

Corporation

215,946

14,991

Celanese

Corporation

1,881,670

27,661

CF

Industries

Holdings,

Inc.

2,371,654

59,685

Cleveland-Cliffs,

Inc.

g

932,876

15,780

Commercial

Metals

Company

779,690

10,011

Eagle

Materials,

Inc.

1,667,032

18,304

Eastman

Chemical

Company

1,404,283

597

Hawkins,

Inc.

35,133

30,252

Huntsman

Corporation

738,149

9,688

Ingevity

Corporation

g

461,246

10,851

Innospec,

Inc.

1,108,972

18,602

Ivanhoe

Mines,

Ltd.

g

159,416

3,510

Kaiser

Aluminum

Corporation

264,163

9,362

Linde

plc

3,485,941

16,713

LSB

Industries,

Inc.

g

170,974

849

LyondellBasell

Industries

NV

80,400

6,539

Martin

Marietta

Materials,

Inc.

2,684,129

3,346

Myers

Industries,

Inc.

59,994

13,122

Newmont

Corporation

484,858

78,957

Nucor

Corporation

12,344,927

20,251

O-I

Glass,

Inc.

g

338,799

11,331

Orion

SA

241,124

4,853

PPG

Industries,

Inc.

629,919

397,390

Ranpak

Holdings

Corporation

g

2,161,802

1,046

Reliance

Steel

&

Aluminum

Company

274,292

38,648

RPM

International,

Inc.

3,664,217

7,809

Ryerson

Holding

Corporation

227,164

10,723

Schnitzer

Steel

Industries,

Inc.

298,635

5,154

Steel

Dynamics,

Inc.

552,612

60,313

Summit

Materials,

Inc.

g

1,878,147

26,541

SunCoke

Energy,

Inc.

269,391

9,892

TimkenSteel

Corporation

g

214,854

3,646

TriMas

Corporation

90,275

5,279

Trinseo

plc

43,129

162,878

Tronox

Holdings

plc

2,189,080

1,633

United

States

Lime

&

Minerals,

Inc.

328,233

61,045

United

States

Steel

Corporation

1,982,742

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

222

Shares

Common

Stock

(25.7%)

Value

Materials

(0.6%)

-

continued

4,538

Vulcan

Materials

Company

$

916,767

Total

50,354,776

Real

Estate

(0.8%)

102,038

Agree

Realty

Corporation

5,636,579

2,160

Alexandria

Real

Estate

Equities,

Inc.

216,216

42,756

Apartment

Income

REIT

Corporation

1,312,609

23,679

AvalonBay

Communities,

Inc.

4,066,631

12,091

Camden

Property

Trust

1,143,567

9,314

CareTrust

REIT,

Inc.

190,937

35,000

CBRE

Group,

Inc.

g

2,585,100

8,158

Centerspace

491,601

17,404

Chatham

Lodging

Trust

166,556

59,389

Compass,

Inc.

g

172,228

78,207

CubeSmart

2,982,033

30,098

Cushman

and

Wakefield

plc

g

229,347

3,224

EastGroup

Properties,

Inc.

536,893

53,521

Elme

Communities

730,026

42,010

EPR

Properties

1,745,095

120,275

Equity

Commonwealth

2,209,452

31,077

Equity

Residential

1,824,531

24,582

Essential

Properties

Realty

Trust,

Inc.

531,709

2,044

Essex

Property

Trust,

Inc.

433,512

11,072

Extra

Space

Storage,

Inc.

1,346,134

33,776

First

Industrial

Realty

Trust,

Inc.

1,607,400

16,083

FirstService

Corporation

2,340,720

56,246

Four

Corners

Property

Trust,

Inc.

1,248,099

12,357

Getty

Realty

Corporation

342,660

93,061

Healthcare

Realty

Trust,

Inc.

1,421,041

98,573

Host

Hotels

&

Resorts,

Inc.

1,584,068

7,342

Howard

Hughes

Holdings,

Inc.

g

544,262

83,741

Independence

Realty

Trust,

Inc.

1,178,236

11,751

Kennedy-Wilson

Holdings,

Inc.

173,210

4,424

LTC

Properties,

Inc.

142,143

133,309

LXP

Industrial

Trust

1,186,450

21,287

Mid-America

Apartment

Communities,

Inc.

2,738,573

9,989

National

Storage

Affiliates

Trust

317,051

47,622

NetSTREIT

Corporation

741,951

15,151

NNN

REIT,

Inc.

535,436

44,458

Pebblebrook

Hotel

Trust

604,184

17,446

Public

Storage

4,597,370

8,440

Realty

Income

Corporation

421,494

25,917

Regency

Centers

Corporation

1,540,506

59,982

Rexford

Industrial

Realty,

Inc.

2,960,112

4,126

RMR

Group,

Inc.

101,169

58,548

Sabra

Health

Care

REIT,

Inc.

816,159

63,595

SBA

Communications

Corporation

12,729,811

106,755

Service

Properties

Trust

820,946

8,484

Terreno

Realty

Corporation

481,891

118,645

UDR,

Inc.

4,232,067

5,168

Welltower,

Inc.

423,363

Total

74,381,128

Utilities

(0.4%)

5,001

AES

Corporation

76,015

5,010

Alliant

Energy

Corporation

242,735

69,159

American

Electric

Power

Company,

Inc.

5,202,140

8,254

Artesian

Resources

Corporation

346,586

4,665

Avista

Corporation

151,006

22,934

Black

Hills

Corporation

1,160,231

Shares

Common

Stock

(25.7%)

Value

Utilities

(0.4%)

-

continued

6,453

CenterPoint

Energy,

Inc.

$

173,263

597

Clearway

Energy,

Inc.

11,892

24,903

Constellation

Energy

Corporation

2,716,419

21,601

Duke

Energy

Corporation

1,906,504

6,231

Edison

International

394,360

23,792

Entergy

Corporation

2,200,760

57,951

Evergy,

Inc.

2,938,116

2,419

NextEra

Energy

Partners,

LP

f

71,844

315,691

NiSource,

Inc.

7,791,254

46,955

NorthWestern

Corporation

2,256,657

107,646

OGE

Energy

Corporation

3,587,841

14,295

Pinnacle

West

Capital

Corporation

1,053,256

32,884

Portland

General

Electric

Company

1,331,144

23,810

Public

Service

Enterprise

Group,

Inc.

1,355,027

2,313

Spire,

Inc.

130,870

100,599

UGI

Corporation

2,313,777

Total

37,411,697

Total

Common

Stock

(cost

$1,747,323,250)

2,263,385,623

Principal

Amount

Long-Term

Fixed

Income

(

20.5%

)

Value

Asset-Backed

Securities

(0.7%)

510

Asset

Backed

Trust

$

2,500,000

3.967%, 

5/25/2061,

Ser.

2021-NPL1,

Class

A2

h,i

2,127,562

720

East

CLO

I,

Ltd.

2,500,000

8.576%, 

(TSFR3M

+

3.250%),

1/20/2036,

Ser.

2022-1A,

Class

B

b,h

2,514,197

825,000

9.576%, 

(TSFR3M

+

4.250%),

1/20/2036,

Ser.

2022-1A,

Class

C

b,h

831,282

Access

Group,

Inc.

157,898

5.929%, 

(SOFR30A

+

0.614%),

2/25/2036,

Ser.

2013-1,

Class

A

b,h

155,117

Affirm

Asset

Securitization

Trust

1,000,000

6.610%, 

1/18/2028,

Ser.

2023-A,

Class

1A

h

995,020

AMSR

Trust

1,400,000

2.352%, 

6/17/2038,

Ser.

2021-SFR1,

Class

C

h

1,165,703

4,500,000

1.877%, 

8/17/2038,

Ser.

2021-SFR2,

Class

C

h

3,935,106

1,750,000

2.517%, 

12/17/2038,

Ser.

2021-SFR4,

Class

C

h

1,528,986

Ares

XL

CLO,

Ltd.

2,750,000

8.370%, 

(TSFR3M

+

3.062%),

1/15/2029,

Ser.

2016-40A,

Class

CRR

b,h

2,691,895

Business

Jet

Securities,

LLC

673,104

2.981%, 

11/15/2035,

Ser.

2020-1A,

Class

A

h

631,055

CarVal

CLO

II,

Ltd.

1,600,000

7.588%, 

(TSFR3M

+

2.262%),

4/20/2032,

Ser.

2019-1A,

Class

CR

b,h

1,576,773

CarVal

CLO

VIII-C,

Ltd.

1,750,000

7.646%, 

(TSFR3M

+

2.300%),

10/22/2035,

Ser.

2022-2A,

Class

A

b,h

1,759,630

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

223

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Asset-Backed

Securities

(0.7%)

-

continued

$

1,100,000

8.346%, 

(TSFR3M

+

3.000%),

10/22/2035,

Ser.

2022-2A,

Class

B1

b,h

$

1,106,238

CMFT

Net

Lease

Master

Issuer,

LLC

1,699,926

2.090%, 

7/20/2051,

Ser.

2021-1,

Class

A1

h

1,401,721

Commonbond

Student

Loan

Trust

192,638

5.934%, 

(TSFR1M

+

0.614%),

2/25/2044,

Ser.

2018-AGS,

Class

A2

b,h

187,631

Dryden

36

Senior

Loan

Fund

2,325,000

7.620%, 

(TSFR3M

+

2.312%),

4/15/2029,

Ser.

2014-36A,

Class

CR3

b,h

2,289,293

Foundation

Finance

Trust

1,087,218

1.270%, 

5/15/2041,

Ser.

2021-1A,

Class

A

h

958,672

FRTKL

Trust

3,050,000

1.922%, 

9/17/2038,

Ser.

2021-SFR1,

Class

C

h

2,648,752

Goodgreen

2,084,421

3.860%, 

10/15/2054,

Ser.

2019-1A,

Class

A

h

1,867,551

Home

Partners

of

America

Trust

3,176,746

2.302%, 

12/17/2026,

Ser.

2021-2,

Class

B

h

2,793,634

2,616,040

2.078%, 

9/17/2041,

Ser.

2021-1,

Class

C

h

2,131,870

Laurel

Road

Prime

Student

Loan

Trust

50,251

2.810%, 

11/25/2042,

Ser.

2017-C,

Class

A2B

h

49,739

1,078,253

Zero

Coupon, 

11/25/2043,

Ser.

2018-D,

Class

A

b,h

999,559

Longfellow

Place

CLO,

Ltd.

1,300,000

7.870%, 

(TSFR3M

+

2.562%),

4/15/2029,

Ser.

2013-1A,

Class

CR3

b,h

1,296,389

Mercury

Financial

Credit

Card

Master

Trust

2,900,000

2.500%, 

9/21/2026,

Ser.

2022-1A,

Class

A

h

2,776,014

National

Collegiate

Trust

763,828

5.729%, 

(LIBOR

1M

+

0.295%),

5/25/2031,

Ser.

2007-A,

Class

A

b,h

739,667

Oak

Street

Investment

2,186,356

1.850%, 

11/20/2050,

Ser.

2020-1A,

Class

A1

h

1,938,054

Preston

Ridge

Partners

Mortgage

Trust,

LLC

1,729,776

2.115%, 

1/25/2026,

Ser.

2021-1,

Class

A1

b,h

1,629,154

Pretium

Mortgage

Credit

Partners,

LLC

1,311,764

5.240%, 

4/25/2052,

Ser.

2022-NPL2,

Class

A1

h,i

1,274,609

914,916

2.240%, 

9/27/2060,

Ser.

2021-NPL1,

Class

A1

h,i

882,897

Progress

Residential

Trust

1,600,000

1.888%, 

5/17/2026,

Ser.

2021-SFR3,

Class

B

h

1,422,216

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Asset-Backed

Securities

(0.7%)

-

continued

$

4,750,000

1.855%, 

7/17/2038,

Ser.

2021-SFR6,

Class

C

h

$

4,153,474

Renaissance

Home

Equity

Loan

Trust

3,418,209

5.580%, 

11/25/2036,

Ser.

2006-3,

Class

AF2

i

1,208,620

Saxon

Asset

Securities

Trust

1,204,048

2.869%, 

8/25/2035,

Ser.

2004-2,

Class

MF2

b

999,133

Tricon

Residential

Trust

2,000,000

2.244%, 

7/17/2038,

Ser.

2021-SFR1,

Class

B

h

1,784,604

Upstart

Securitization

Trust

1,029,862

6.590%, 

2/20/2033,

Ser.

2023-1,

Class

A

h

1,027,765

VCAT

Asset

Securitization,

LLC

1,450,000

4.826%, 

12/26/2050,

Ser.

2021-NPL1,

Class

A2

h,i

1,306,425

Vericrest

Opportunity

Loan

Transferee

1,335,489

1.893%, 

2/27/2051,

Ser.

2021-NPL2,

Class

A1

h,i

1,240,692

982,915

2.116%, 

4/25/2051,

Ser.

2021-NPL8,

Class

A1

h,i

914,467

1,100,000

4.949%, 

4/25/2051,

Ser.

2021-NPL8,

Class

A2

h,i

831,714

1,000,000

5.438%, 

12/26/2051,

Ser.

2021-NP12,

Class

A2

h,i

753,450

Wind

River

CLO,

Ltd.

1,650,000

7.588%, 

(TSFR3M

+

2.262%),

7/20/2030,

Ser.

2013-1A,

Class

BRR

b,h

1,639,301

Total

64,165,631

Basic

Materials

(0.2%)

Alcoa

Nederland

Holding

BV

483,000

5.500%, 

12/15/2027

h

458,799

Anglo

American

Capital

plc

750,000

3.875%, 

3/16/2029

h

672,074

ATI,

Inc.

340,000

7.250%, 

8/15/2030

337,450

Cascades,

Inc./Cascades

USA,

Inc.

370,000

5.125%, 

1/15/2026

h

354,184

Chemours

Company

510,000

5.750%, 

11/15/2028

h

442,629

Cleveland-Cliffs,

Inc.

450,000

5.875%, 

6/1/2027

f

428,315

290,000

4.625%, 

3/1/2029

h

252,609

Consolidated

Energy

Finance

SA

854,000

5.625%, 

10/15/2028

h

705,618

EIDP,

Inc.

616,000

4.500%, 

5/15/2026

599,999

First

Quantum

Minerals,

Ltd.

869,000

6.875%, 

10/15/2027

h

833,699

FMC

Corporation

624,000

5.150%, 

5/18/2026

606,239

Glencore

Funding,

LLC

616,000

3.375%, 

9/23/2051

h

369,737

944,000

4.000%, 

3/27/2027

h

886,089

619,000

6.125%, 

10/6/2028

e,h

617,937

Hecla

Mining

Company

220,000

7.250%, 

2/15/2028

212,848

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

224

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Basic

Materials

(0.2%)

-

continued

Hudbay

Minerals,

Inc.

$

510,000

4.500%, 

4/1/2026

h

$

477,144

Illuminate

Buyer,

LLC/Illuminate

Holdings

IV,

Inc.

375,000

9.000%, 

7/1/2028

h

354,168

International

Flavors

&

Fragrances,

Inc.

739,000

1.230%, 

10/1/2025

h

662,438

Methanex

Corporation

474,000

4.250%, 

12/1/2024

461,333

Mineral

Resources,

Ltd.

102,000

9.250%, 

10/1/2028

h

103,020

Mosaic

Company

780,000

4.050%, 

11/15/2027

f

732,159

Novelis

Corporation

200,000

3.250%, 

11/15/2026

h

178,619

290,000

4.750%, 

1/30/2030

h

250,980

200,000

3.875%, 

8/15/2031

h

159,717

Nutrien,

Ltd.

308,000

4.900%, 

3/27/2028

297,472

OCI

NV

353,000

4.625%, 

10/15/2025

h

333,745

Olin

Corporation

765,000

5.125%, 

9/15/2027

715,283

SCIL

IV,

LLC/SCIL

USA

Holdings,

LLC

521,000

5.375%, 

11/1/2026

h

476,047

SNF

Group

SACA

508,000

3.375%, 

3/15/2030

h

410,008

SunCoke

Energy,

Inc.

544,000

4.875%, 

6/30/2029

h

462,250

Taseko

Mines,

Ltd.

366,000

7.000%, 

2/15/2026

h

341,891

Unifrax

Escrow

Issuer

Corporation

463,000

5.250%, 

9/30/2028

h

329,723

United

States

Steel

Corporation

538,000

6.875%, 

3/1/2029

f

528,884

Total

15,053,107

Capital

Goods

(0.4%)

Advanced

Drainage

Systems,

Inc.

446,000

6.375%, 

6/15/2030

h

428,361

AECOM

860,000

5.125%, 

3/15/2027

814,510

Amsted

Industries,

Inc.

570,000

5.625%, 

7/1/2027

h

537,233

ARD

Finance

SA

144,000

6.500%, 

6/30/2027

h

108,639

Ardagh

Packaging

Finance

plc/

Ardagh

Holdings

USA,

Inc.

500,000

5.250%, 

8/15/2027

h

417,247

200,000

5.250%, 

8/15/2027

h

166,899

Boeing

Company

1,280,000

5.930%, 

5/1/2060

1,149,335

712,000

5.040%, 

5/1/2027

695,169

1,475,000

5.705%, 

5/1/2040

1,360,839

Bombardier,

Inc.

49,000

7.125%, 

6/15/2026

h

47,474

630,000

7.875%, 

4/15/2027

h

614,721

435,000

6.000%, 

2/15/2028

h

394,630

Brand

Industrial

Services,

Inc.

164,000

10.375%, 

8/1/2030

h

164,253

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Capital

Goods

(0.4%)

-

continued

Builders

FirstSource,

Inc.

$

330,000

5.000%, 

3/1/2030

h

$

294,230

Canpack

SA/Canpack

US,

LLC

700,000

3.125%, 

11/1/2025

h

645,737

Carrier

Global

Corporation

880,000

2.700%, 

2/15/2031

713,335

Chart

Industries,

Inc.

507,000

7.500%, 

1/1/2030

h

509,778

Clean

Harbors,

Inc.

674,000

6.375%, 

2/1/2031

h

655,378

Clydesdale

Acquisition

Holdings,

Inc.

68,000

6.625%, 

4/15/2029

h

63,226

136,000

8.750%, 

4/15/2030

h

116,642

CNH

Industrial

NV

484,000

3.850%, 

11/15/2027

450,470

Cornerstone

Building

Brands,

Inc.

348,000

6.125%, 

1/15/2029

h

263,817

Covanta

Holding

Corporation

276,000

4.875%, 

12/1/2029

h

226,430

CP

Atlas

Buyer,

Inc.

465,000

7.000%, 

12/1/2028

h

364,624

Crown

Cork

&

Seal

Company,

Inc.

434,000

7.375%, 

12/15/2026

440,510

Emerald

Debt

Merger

Sub,

LLC

510,000

6.625%, 

12/15/2030

h

490,964

GFL

Environmental,

Inc.

415,000

4.000%, 

8/1/2028

h

362,613

674,000

3.500%, 

9/1/2028

h

580,254

H&E

Equipment

Services,

Inc.

865,000

3.875%, 

12/15/2028

h

738,618

Herc

Holdings,

Inc.

480,000

5.500%, 

7/15/2027

h

453,914

Howmet

Aerospace,

Inc.

1,107,000

3.000%, 

1/15/2029

937,031

923,000

5.950%, 

2/1/2037

866,637

Ingersoll

Rand,

Inc.

151,000

5.700%, 

8/14/2033

145,732

John

Deere

Capital

Corporation

504,000

4.950%, 

7/14/2028

497,039

Lockheed

Martin

Corporation

544,000

4.500%, 

5/15/2036

495,781

374,000

6.150%, 

9/1/2036

392,322

Mauser

Packaging

Solutions

Holding

Company

269,000

9.250%, 

4/15/2027

h

235,129

MIWD

Holdco

II,

LLC

273,000

5.500%, 

2/1/2030

h

225,565

Mueller

Water

Products,

Inc.

286,000

4.000%, 

6/15/2029

h

249,079

Nesco

Holdings

II,

Inc.

525,000

5.500%, 

4/15/2029

h

460,688

New

Enterprise

Stone

and

Lime

Company,

Inc.

659,000

5.250%, 

7/15/2028

h

591,301

Nordson

Corporation

615,000

5.600%, 

9/15/2028

609,096

Northrop

Grumman

Corporation

1,225,000

3.850%, 

4/15/2045

912,081

OI

European

Group

BV

551,000

4.750%, 

2/15/2030

h

479,290

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

225

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Capital

Goods

(0.4%)

-

continued

Owens-Brockway

Glass

Container,

Inc.

$

272,000

6.625%, 

5/13/2027

h

$

265,168

Pactiv

Evergreen

Group

395,000

4.375%, 

10/15/2028

h

342,726

Parker-Hannifin

Corporation

1,538,000

4.500%, 

9/15/2029

1,455,748

PGT

Innovations,

Inc.

529,000

4.375%, 

10/1/2029

h

487,782

Regal

Rexnord

Corporation

770,000

6.050%, 

2/15/2026

h

761,416

Republic

Services,

Inc.

637,000

2.900%, 

7/1/2026

595,710

Roller

Bearing

Company

of

America,

Inc.

386,000

4.375%, 

10/15/2029

h

332,023

RTX

Corporation

500,000

4.125%, 

11/16/2028

466,228

900,000

4.450%, 

11/16/2038

757,182

Sealed

Air

Corporation

424,000

6.125%, 

2/1/2028

h

410,653

Silgan

Holdings,

Inc.

202,000

4.125%, 

2/1/2028

180,719

SRM

Escrow

Issuer,

LLC

785,000

6.000%, 

11/1/2028

h

724,917

Textron,

Inc.

1,010,000

3.375%, 

3/1/2028

913,282

Titan

Acquisition,

Ltd./Titan

Co-

Borrower,

LLC

220,000

7.750%, 

4/15/2026

h

215,600

Trane

Technologies

Financing,

Ltd.

775,000

3.500%, 

3/21/2026

735,586

TransDigm,

Inc.

500,000

6.250%, 

3/15/2026

h

491,290

1,583,000

5.500%, 

11/15/2027

1,482,242

Triumph

Group,

Inc.

434,000

9.000%, 

3/15/2028

h

429,142

United

Rentals

North

America,

Inc.

525,000

4.875%, 

1/15/2028

490,404

430,000

4.000%, 

7/15/2030

366,456

Veralto

Corporation

619,000

5.350%, 

9/18/2028

h

611,998

Waste

Management,

Inc.

612,000

4.875%, 

2/15/2034

579,180

Waste

Pro

USA,

Inc.

255,000

5.500%, 

2/15/2026

h

238,113

WESCO

Distribution,

Inc.

720,000

7.250%, 

6/15/2028

h

723,493

Total

35,423,679

Collateralized

Mortgage

Obligations

(0.9%)

Alternative

Loan

Trust

532,864

6.000%, 

8/1/2036,

Ser.

2006-24CB,

Class

A9

291,009

Arroyo

Mortgage

Trust

3,000,000

3.269%, 

12/25/2056,

Ser.

2022-1,

Class

A1B

h,i

2,498,402

BINOM

Securitization

Trust

1,298,826

2.370%, 

6/25/2056,

Ser.

2021-INV1,

Class

A2

b,h

1,090,150

CHNGE

Mortgage

Trust

2,371,421

7.100%, 

7/25/2058,

Ser.

2023-3,

Class

A1

h,i

2,358,181

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Collateralized

Mortgage

Obligations

(0.9%)

-

continued

$

2,804,216

6.000%, 

10/25/2057,

Ser.

2022-4,

Class

A1

h,i

$

2,729,544

Citicorp

Mortgage

Securities,

Inc.

1,491,562

6.000%, 

7/25/2037,

Ser.

2007-6,

Class

1A4

1,269,802

COLT

Mortgage

Loan

Trust

2,684,823

1.726%, 

11/25/2066,

Ser.

2021-5,

Class

A1

b,h

2,199,417

Countrywide

Alternative

Loan

Trust

742,452

3.784%, 

10/25/2035,

Ser.

2005-43,

Class

4A1

b

598,948

1,705,132

7.000%, 

10/25/2037,

Ser.

2007-24,

Class

A10

615,813

Countrywide

Home

Loans,

Inc.

336,633

5.750%, 

4/25/2037,

Ser.

2007-3,

Class

A27

152,251

Credit

Suisse

Mortgage

Trust

1,500,000

3.346%, 

1/25/2067,

Ser.

2022-ATH1,

Class

A1B

b,h

1,263,216

2,450,000

4.000%, 

2/25/2067,

Ser.

2022-NQM2,

Class

A1B

b,h

2,070,065

1,410,638

6.567%, 

8/25/2067,

Ser.

2022-ATH3,

Class

A3

b,h

1,376,840

1,314,180

2.572%, 

11/25/2066,

Ser.

2022-NQM1,

Class

A2

b,h

1,039,877

Deutsche

Alt-A

Securities,

Inc.,

Mortgage

Loan

Trust

147,719

6.000%, 

10/25/2023,

Ser.

2006-AR5,

Class

23A

76,209

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

3,627,256

4.000%, 

1/25/2051,

Ser.

5249,

Class

LA

3,422,081

1,024,259

3.000%, 

2/15/2033,

Ser.

4170,

Class

IG

j

87,177

1,946,901

3.000%, 

3/15/2033,

Ser.

4180,

Class

PI

j

197,424

3,610,101

4.500%, 

10/15/2033,

Ser.

2695,

Class

BH

3,469,638

3,000,000

2.500%, 

12/15/2048,

Ser.

5094,

Class

BC

2,222,130

Federal

National

Mortgage

Association

-

REMIC

3,715,557

4.500%, 

6/25/2052,

Ser.

2022-43,

Class

MA

3,540,285

3,047,991

4.000%, 

7/25/2052,

Ser.

2022-37,

Class

PE

2,867,088

2,161,430

3.000%, 

12/25/2027,

Ser.

2012-137,

Class

AI

j

80,985

8,261,941

5.250%, 

7/25/2039,

Ser.

2022-72,

Class

CB

8,128,091

3,697,889

4.500%, 

1/25/2046,

Ser.

2022-68,

Class

BA

3,574,412

Flagstar

Mortgage

Trust

1,499,249

2.500%, 

9/25/2041,

Ser.

2021-9INV,

Class

A1

b,h

1,244,540

GCAT

Trust

2,104,190

1.855%, 

8/25/2066,

Ser.

2021-NQM6,

Class

A1

b,h

1,768,664

GS

Mortgage-Backed

Securities

Trust

2,881,233

3.000%, 

6/25/2052,

Ser.

2022-GR1,

Class

A2

b,h

2,273,474

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

226

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Collateralized

Mortgage

Obligations

(0.9%)

-

continued

J.P.

Morgan

Mortgage

Trust

$

2,909,264

2.500%, 

2/25/2052,

Ser.

2021-INV7,

Class

A2A

b,h

$

2,195,243

1,916,350

2.774%, 

5/25/2052,

Ser.

2021-LTV2,

Class

A2

b,h

1,490,420

LHOME

Mortgage

Trust

672,813

2.090%, 

2/25/2026,

Ser.

2021-RTL1,

Class

A1

b,h

669,415

839,749

2.090%, 

6/25/2026,

Ser.

2021-RTL2,

Class

A1

h,i

826,083

Mello

Mortgage

Capital

Acceptance

2,847,438

2.500%, 

8/25/2051,

Ser.

2021-INV2,

Class

A3

b,h

2,148,591

Merrill

Lynch

Alternative

Note

Asset

Trust

341,433

6.000%, 

3/25/2037,

Ser.

2007-F1,

Class

2A1

129,563

New

Residential

Mortgage

Loan

Trust

6,278,053

2.500%, 

9/25/2051,

Ser.

2021-INV2,

Class

A2

b,h

4,737,230

New

York

Mortgage

Trust

2,247,591

2.239%, 

5/25/2026,

Ser.

2021-BPL1,

Class

A1

h,i

2,226,612

Onslow

Bay

Financial,

LLC

1,550,000

3.688%, 

1/25/2062,

Ser.

2022-NQM3,

Class

A1B

b,h

1,264,014

Palisades

Mortgage

Loan

Trust

4,200,000

2.857%, 

6/25/2026,

Ser.

2021-RTL1,

Class

A1

h,i

4,074,141

Residential

Accredit

Loans,

Inc.

Trust

718,674

6.000%, 

8/25/2035,

Ser.

2005-QS10,

Class

2A

593,169

ROC

Securities

Trust

Series

2,600,000

2.487%, 

8/25/2026,

Ser.

2021-RTL1,

Class

A1

b,h

2,529,810

Sequoia

Mortgage

Trust

648,820

3.482%, 

9/20/2046,

Ser.

2007-1,

Class

4A1

b

440,797

Toorak

Mortgage

Corporation,

Ltd.

1,907,332

2.240%, 

6/25/2024,

Ser.

2021-1,

Class

A1

h,i

1,854,596

TRK

Trust

2,065,494

1.966%, 

11/25/2056,

Ser.

2021-INV2,

Class

A1

b,h

1,668,109

Vericrest

Opportunity

Loan

Transferee

1,354,258

2.116%, 

3/27/2051,

Ser.

2021-NPL5,

Class

A1

h,i

1,281,527

Verus

Securitization

Trust

1,139,653

2.286%, 

11/25/2066,

Ser.

2021-8,

Class

A2

b,h

919,752

Total

81,554,785

Commercial

Mortgage-Backed

Securities

(1.0%)

BANK

2022-BNK39

39,867,498

0.533%, 

2/15/2055,

Ser.

2022-BNK39,

Class

XA

b,j

1,068,780

BANK5

2023-5YR2

2,350,000

7.379%, 

6/15/2028,

Ser.

2023-5YR2,

Class

AS

b

2,378,960

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Commercial

Mortgage-Backed

Securities

(1.0%)

-

continued

BBCMS

Mortgage

Trust

$

21,930,511

0.839%, 

2/15/2055,

Ser.

2022-C14,

Class

XA

b,j

$

871,413

2,500,000

5.451%, 

4/15/2056,

Ser.

2023-C19,

Class

A5

2,419,287

17,961,818

1.325%, 

9/15/2055,

Ser.

2022-C17,

Class

XA

b,j

1,355,004

18,615,042

1.949%, 

10/15/2053,

Ser.

2020-C8,

Class

XA

b,j

1,600,780

Benchmark

Mortgage

Trust

3,165,000

2.669%, 

12/15/2054,

Ser.

2021-B31,

Class

A5

2,496,917

BFLD

Trust

1,100,000

7.147%, 

(TSFR1M

+

1.814%),

10/15/2035,

Ser.

2020-EYP,

Class

B

b,h

647,638

Federal

Home

Loan

Mortgage

Corporation

Multifamily

Structured

Pass

Through

Certificates

8,000,000

3.000%, 

6/25/2032,

Ser.

K147,

Class

A2

b,k

6,743,334

5,475,000

3.500%, 

7/25/2032,

Ser.

K148,

Class

A2

b,k

4,799,052

8,750,000

3.530%, 

8/25/2032,

Ser.

K149,

Class

A2

k

7,676,967

1,300,000

3.710%, 

9/25/2032,

Ser.

K-150,

Class

A2

b,k

1,155,513

8,000,000

3.800%, 

10/25/2032,

Ser.

K-151,

Class

A2

b,k

7,155,149

9,250,000

3.780%, 

11/25/2032,

Ser.

K-152,

Class

A2

b,k

8,259,057

8,400,000

3.820%, 

12/25/2032,

Ser.

K-153,

Class

A2

b,k

7,513,468

1,150,000

4.350%, 

1/25/2033,

Ser.

K-154,

Class

A2

b,k

1,071,817

8,700,000

4.200%, 

5/25/2033,

Ser.

K-157,

Class

A2

k

8,001,715

Federal

Home

Loan

Mortgage

Corporation

Multifamily

WI

Certificates

4,500,000

4.500%, 

11/25/2033,

Ser.

K159,

Class

A2

4,233,777

6,500,000

4.500%, 

12/25/2033,

Ser.

K160,

Class

A2

6,087,560

MIRA

Trust

2,750,000

6.755%, 

6/10/2038,

Ser.

2023-MILE,

Class

A

h

2,693,378

Morgan

Stanley

Capital

I

Trust

19,781,544

1.960%, 

7/15/2053,

Ser.

2020-HR8,

Class

XA

b,j

1,801,489

MSWF

Commercial

Mortgage

Trust

1,835,000

5.752%, 

5/15/2033,

Ser.

2023-1,

Class

A5

1,807,356

SCOTT

Trust

3,000,000

5.910%, 

3/15/2040,

Ser.

2023-SFS,

Class

A

h

2,907,881

Total

84,746,292

Communications

Services

(0.6%)

Activision

Blizzard,

Inc.

1,231,000

2.500%, 

9/15/2050

733,051

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

227

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Communications

Services

(0.6%)

-

continued

Allen

Media,

LLC/Allen

Media

Co-

Issuer,

Inc.

$

461,000

10.500%, 

2/15/2028

h

$

263,678

Altice

Financing

SA

235,000

5.750%, 

8/15/2029

f,h

192,590

Altice

France

SA/France

265,000

8.125%, 

2/1/2027

h

235,001

866,000

5.500%, 

10/15/2029

h

622,754

AMC

Networks,

Inc.

200,000

5.000%, 

4/1/2024

197,238

624,000

4.250%, 

2/15/2029

382,883

American

Tower

Corporation

500,000

3.375%, 

10/15/2026

465,484

374,000

5.500%, 

3/15/2028

366,927

619,000

5.800%, 

11/15/2028

614,341

793,000

2.900%, 

1/15/2030

658,839

412,000

5.650%, 

3/15/2033

396,042

AT&T,

Inc.

923,000

3.650%, 

6/1/2051

595,145

1,282,000

3.500%, 

9/15/2053

792,082

1,500,000

2.300%, 

6/1/2027

1,328,170

825,000

4.350%, 

3/1/2029

767,764

621,000

5.400%, 

2/15/2034

581,193

1,265,000

4.900%, 

8/15/2037

1,095,851

CCO

Holdings,

LLC/CCO

Holdings

Capital

Corporation

900,000

5.125%, 

5/1/2027

h

838,545

404,000

5.000%, 

2/1/2028

h

366,888

634,000

6.375%, 

9/1/2029

h

591,183

750,000

4.750%, 

3/1/2030

h

629,588

271,000

4.250%, 

2/1/2031

h

215,726

394,000

4.750%, 

2/1/2032

h

315,200

425,000

4.250%, 

1/15/2034

h

312,918

Cengage

Learning,

Inc.

19,000

9.500%, 

6/15/2024

h

19,016

Charter

Communications

Operating,

LLC/Charter

Communications

Operating

Capital

Corporation

920,000

4.200%, 

3/15/2028

844,411

1,400,000

3.500%, 

6/1/2041

885,330

Cimpress

plc

340,000

7.000%, 

6/15/2026

318,209

Clear

Channel

Outdoor

Holdings,

Inc.

102,000

7.500%, 

6/1/2029

f,h

77,993

Clear

Channel

Worldwide

Holdings,

Inc.

804,000

5.125%, 

8/15/2027

h

713,946

Comcast

Corporation

923,000

5.350%, 

5/15/2053

841,593

786,000

2.887%, 

11/1/2051

463,221

780,000

4.250%, 

10/15/2030

718,513

640,000

4.400%, 

8/15/2035

565,284

1,305,000

4.750%, 

3/1/2044

1,095,451

Connect

Finco

SARL/Connect

US

Finco,

LLC

261,000

6.750%, 

10/1/2026

h

243,434

CSC

Holdings,

LLC

1,280,000

5.375%, 

2/1/2028

h

1,042,063

476,000

6.500%, 

2/1/2029

h

394,336

Deutsche

Telekom

International

Finance

BV

1,535,000

8.750%, 

6/15/2030

1,758,254

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Communications

Services

(0.6%)

-

continued

DIRECTV

Financing,

LLC/DIRECTV

Financing

Co-Obligor,

Inc.

$

944,000

5.875%, 

8/15/2027

h

$

834,666

Discovery

Communications,

LLC

1,369,000

4.900%, 

3/11/2026

1,336,171

DISH

DBS

Corporation

176,000

5.875%, 

11/15/2024

163,819

243,000

5.250%, 

12/1/2026

h

206,514

174,000

7.375%, 

7/1/2028

109,635

324,000

5.750%, 

12/1/2028

h

249,075

269,000

5.125%, 

6/1/2029

149,128

DISH

Network

Corporation

244,000

11.750%, 

11/15/2027

h

245,822

Frontier

Communications

Holdings,

LLC

567,000

5.875%, 

10/15/2027

h

515,668

205,000

6.750%, 

5/1/2029

h

157,722

127,000

8.750%, 

5/15/2030

h

120,583

GCI,

LLC

520,000

4.750%, 

10/15/2028

h

448,500

Gray

Escrow

II,

Inc.

718,000

5.375%, 

11/15/2031

h

469,886

Gray

Television,

Inc.

490,000

4.750%, 

10/15/2030

h

324,611

Hughes

Satellite

Systems

Corporation

270,000

6.625%, 

8/1/2026

230,850

Iliad

Holding

SASU

627,000

6.500%, 

10/15/2026

h

589,075

Lamar

Media

Corporation

274,000

3.625%, 

1/15/2031

223,135

LCPR

Senior

Secured

Financing

DAC

405,000

6.750%, 

10/15/2027

h

371,992

Level

3

Financing,

Inc.

744,000

4.625%, 

9/15/2027

h

535,060

430,000

4.250%, 

7/1/2028

h

267,904

243,000

10.500%, 

5/15/2030

h

244,601

McGraw-Hill

Education,

Inc.

376,000

5.750%, 

8/1/2028

h

324,394

36,000

8.000%, 

8/1/2029

h

31,230

Meta

Platforms,

Inc.

462,000

5.600%, 

5/15/2053

437,264

616,000

4.800%, 

5/15/2030

600,009

1,230,000

3.850%, 

8/15/2032

1,091,249

Netflix,

Inc.

500,000

5.875%, 

11/15/2028

502,830

552,000

5.375%, 

11/15/2029

h

538,604

500,000

4.875%, 

6/15/2030

h

473,354

News

Corporation

487,000

3.875%, 

5/15/2029

h

418,820

NTT

Finance

Corporation

1,077,000

4.372%, 

7/27/2027

h

1,037,437

Omnicom

Group,

Inc.

750,000

3.600%, 

4/15/2026

712,382

435,000

4.200%, 

6/1/2030

389,624

Outfront

Media

Capital,

LLC/

Outfront

Media

Capital

Corporation

279,000

6.250%, 

6/15/2025

h

273,343

205,000

4.625%, 

3/15/2030

f,h

161,153

Playtika

Holding

Corporation

428,000

4.250%, 

3/15/2029

h

357,380

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

228

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Communications

Services

(0.6%)

-

continued

Radiate

Holdco,

LLC/Radiate

Finance,

Inc.

$

285,000

6.500%, 

9/15/2028

h

$

149,625

Scripps

Escrow

II,

Inc.

192,000

3.875%, 

1/15/2029

h

144,391

Sirius

XM

Radio,

Inc.

685,000

5.000%, 

8/1/2027

h

625,679

365,000

4.000%, 

7/15/2028

h

311,552

Sprint

Capital

Corporation

1,553,000

8.750%, 

3/15/2032

1,796,582

Take-Two

Interactive

Software,

Inc.

620,000

4.950%, 

3/28/2028

599,206

TEGNA,

Inc.

720,000

4.625%, 

3/15/2028

622,800

Telecom

Italia

Capital

SA

155,000

6.000%, 

9/30/2034

129,236

Telecom

Italia

SPA/Milano

213,000

5.303%, 

5/30/2024

h

209,419

Telesat

Canada/Telesat,

LLC

270,000

4.875%, 

6/1/2027

h

174,962

100,000

6.500%, 

10/15/2027

h

51,000

T-Mobile

USA,

Inc.

1,539,000

3.600%, 

11/15/2060

952,035

1,100,000

4.375%, 

4/15/2040

883,881

United

States

Cellular

Corporation

460,000

6.700%, 

12/15/2033

447,350

Uniti

Group,

LP/Uniti

Group

Finance,

Inc./CSL

Capital,

LLC

657,000

4.750%, 

4/15/2028

h

536,495

Univision

Communications,

Inc.

523,000

6.625%, 

6/1/2027

h

487,084

Verizon

Communications,

Inc.

923,000

3.000%, 

11/20/2060

499,759

2,689,000

2.650%, 

11/20/2040

1,702,187

1,400,000

3.400%, 

3/22/2041

992,518

VTR

Finance

NV

350,000

6.375%, 

7/15/2028

h

130,632

VZ

Secured

Financing

BV

462,000

5.000%, 

1/15/2032

h

362,926

Warnermedia

Holdings,

Inc.

1,077,000

5.141%, 

3/15/2052

800,255

922,000

4.054%, 

3/15/2029

821,466

923,000

5.050%, 

3/15/2042

713,837

YPSO

Finance

BIS

SA

217,000

10.500%, 

5/15/2027

h

135,339

Total

52,963,841

Consumer

Cyclical

(0.6%)

1011778

B.C.,

ULC/New

Red

Finance,

Inc.

780,000

4.375%, 

1/15/2028

h

703,052

Adient

Global

Holdings,

Ltd.

277,000

4.875%, 

8/15/2026

h

261,250

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation

285,000

6.625%, 

7/15/2026

h

270,049

295,000

6.000%, 

6/1/2029

h

219,919

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation/

Atlas

Luxco

4

SARL

405,000

4.625%, 

6/1/2028

h

337,511

355,000

4.625%, 

6/1/2028

h

294,720

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Consumer

Cyclical

(0.6%)

-

continued

Allison

Transmission,

Inc.

$

275,000

3.750%, 

1/30/2031

h

$

222,310

Amazon.com,

Inc.

521,000

3.875%, 

8/22/2037

444,745

American

Axle

&

Manufacturing,

Inc.

820,000

6.500%, 

4/1/2027

778,532

Arko

Corporation

328,000

5.125%, 

11/15/2029

h

264,545

Ashton

Woods

USA,

LLC/Ashton

Woods

Finance

Company

320,000

4.625%, 

8/1/2029

h

270,037

181,000

4.625%, 

4/1/2030

h

148,166

Boyd

Gaming

Corporation

490,000

4.750%, 

6/15/2031

h

416,978

Boyne

USA,

Inc.

185,000

4.750%, 

5/15/2029

h

161,811

Brookfield

Residential

Properties,

Inc./Brookfield

Residential

US,

LLC

435,000

6.250%, 

9/15/2027

h

391,639

Caesars

Entertainment,

Inc.

755,000

6.250%, 

7/1/2025

h

744,666

170,000

8.125%, 

7/1/2027

h

170,810

529,000

4.625%, 

10/15/2029

h

448,095

Carnival

Corporation

323,000

7.625%, 

3/1/2026

h

314,209

797,000

5.750%, 

3/1/2027

h

721,464

200,000

4.000%, 

8/1/2028

h

173,415

Cedar

Fair,

LP

478,000

5.250%, 

7/15/2029

415,430

Churchill

Downs,

Inc.

325,000

4.750%, 

1/15/2028

h

293,163

202,000

6.750%, 

5/1/2031

h

190,890

Cinemark

USA,

Inc.

569,000

5.875%, 

3/15/2026

f,h

546,309

Clarios

Global,

LP/Clarios

US

Finance

Company,

Inc.

255,000

8.500%, 

5/15/2027

f,h

254,269

503,000

6.750%, 

5/15/2028

h

491,054

D.R.

Horton,

Inc.

333,000

2.600%, 

10/15/2025

311,587

Daimler

Trucks

Finance

North

America,

LLC

964,000

2.000%, 

12/14/2026

h

861,222

Expedia

Group,

Inc.

1,500,000

3.250%, 

2/15/2030

1,268,705

Ford

Motor

Company

784,000

3.250%, 

2/12/2032

604,200

442,000

6.100%, 

8/19/2032

f

416,325

Ford

Motor

Credit

Company,

LLC

1,003,000

2.300%, 

2/10/2025

940,781

1,060,000

4.134%, 

8/4/2025

1,004,969

845,000

2.700%, 

8/10/2026

754,049

350,000

7.350%, 

3/6/2030

354,437

Forestar

Group,

Inc.

340,000

3.850%, 

5/15/2026

h

308,615

General

Motors

Company

810,000

6.125%, 

10/1/2025

809,299

1,500,000

6.800%, 

10/1/2027

1,530,770

General

Motors

Financial

Company,

Inc.

500,000

1.500%, 

6/10/2026

441,800

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

229

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Consumer

Cyclical

(0.6%)

-

continued

GLP

Capital,

LP

$

1,153,000

5.750%, 

6/1/2028

$

1,105,497

Goodyear

Tire

&

Rubber

Company

330,000

5.000%, 

7/15/2029

284,236

Guitar

Center

Escrow

Issuer

II,

Inc.

158,000

8.500%, 

1/15/2026

f,h

137,225

Hanesbrands,

Inc.

455,000

4.875%, 

5/15/2026

f,h

417,126

Hilton

Domestic

Operating

Company,

Inc.

638,000

4.875%, 

1/15/2030

580,629

201,000

3.625%, 

2/15/2032

h

162,045

Hilton

Grand

Vacations

Borrower

Escrow,

LLC/Hilton

Grand

Vacations

Borrower

Escrow,

Inc.

324,000

5.000%, 

6/1/2029

h

281,052

Home

Depot,

Inc.

505,000

5.400%, 

9/15/2040

483,394

1,140,000

4.250%, 

4/1/2046

914,854

970,000

3.900%, 

6/15/2047

740,564

Hyundai

Capital

America

1,150,000

1.800%, 

1/10/2028

h

963,441

Hyundai

Capital

Services,

Inc.

615,000

2.125%, 

4/24/2025

h

578,614

International

Game

Technology

plc

600,000

5.250%, 

1/15/2029

h

552,907

Jacobs

Entertainment,

Inc.

274,000

6.750%, 

2/15/2029

h

243,175

Jaguar

Land

Rover

Automotive

plc

531,000

5.500%, 

7/15/2029

h

454,003

KB

Home

450,000

4.800%, 

11/15/2029

396,000

Kia

Corporation

500,000

2.375%, 

2/14/2025

h

476,878

Kohl's

Corporation

584,000

4.625%, 

5/1/2031

392,471

825,000

5.550%, 

7/17/2045

463,955

L

Brands,

Inc.

780,000

6.625%, 

10/1/2030

h

731,258

180,000

6.875%, 

11/1/2035

160,755

Lennar

Corporation

1,073,000

4.750%, 

5/30/2025

1,049,703

Light

&

Wonder

International,

Inc.

610,000

7.250%, 

11/15/2029

h

597,800

Lowe's

Companies,

Inc.

616,000

5.625%, 

4/15/2053

559,892

1,500,000

2.625%, 

4/1/2031

1,213,344

Macy's

Retail

Holdings,

LLC

480,000

5.875%, 

4/1/2029

h

420,283

Marriott

International,

Inc./MD

1,025,000

4.625%, 

6/15/2030

944,188

Mattamy

Group

Corporation

376,000

5.250%, 

12/15/2027

h

343,149

McDonald's

Corporation

1,084,000

4.450%, 

3/1/2047

882,961

Michaels

Companies,

Inc.

326,000

5.250%, 

5/1/2028

f,h

260,181

NCL

Corporation,

Ltd.

185,000

3.625%, 

12/15/2024

h

177,658

137,000

5.875%, 

3/15/2026

h

126,484

340,000

5.875%, 

2/15/2027

h

323,329

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Consumer

Cyclical

(0.6%)

-

continued

Nissan

Motor

Acceptance

Company,

LLC

$

1,000,000

1.125%, 

9/16/2024

h

$

949,235

Nissan

Motor

Company,

Ltd.

177,000

3.522%, 

9/17/2025

h

167,169

184,000

4.345%, 

9/17/2027

h

167,955

229,000

4.810%, 

9/17/2030

h

197,511

Nordstrom,

Inc.

162,000

4.375%, 

4/1/2030

f

124,627

231,000

4.250%, 

8/1/2031

f

167,527

PENN

Entertainment,

Inc.

495,000

4.125%, 

7/1/2029

f,h

404,507

PetSmart,

Inc./PetSmart

Finance

Corporation

650,000

4.750%, 

2/15/2028

h

569,035

440,000

7.750%, 

2/15/2029

h

410,031

Prime

Security

Services

Borrower,

LLC/Prime

Finance,

Inc.

846,000

5.750%, 

4/15/2026

h

820,762

376,000

6.250%, 

1/15/2028

f,h

348,239

Realogy

Group,

LLC/Realogy

Group

Co-Issuer

Corporation

630,000

5.750%, 

1/15/2029

h

455,459

Royal

Caribbean

Cruises,

Ltd.

74,000

11.500%, 

6/1/2025

h

78,116

760,000

4.250%, 

7/1/2026

h

696,838

341,000

9.250%, 

1/15/2029

h

360,245

163,000

7.250%, 

1/15/2030

h

161,548

Scientific

Games

Holdings,

LP/

Scientific

Games

US

FinCo,

Inc.

57,000

6.625%, 

3/1/2030

h

49,163

SeaWorld

Parks

and

Entertainment,

Inc.

307,000

5.250%, 

8/15/2029

h

269,669

Six

Flags

Theme

Parks,

Inc.

181,000

7.000%, 

7/1/2025

h

180,541

Staples,

Inc.

386,000

7.500%, 

4/15/2026

h

317,425

243,000

10.750%, 

4/15/2027

h

142,653

Starbucks

Corporation

770,000

4.750%, 

2/15/2026

758,670

Station

Casinos,

LLC

381,000

4.625%, 

12/1/2031

h

304,756

Target

Corporation

923,000

2.950%, 

1/15/2052

563,075

Tenneco,

Inc.

340,000

8.000%, 

11/17/2028

h

276,675

Toyota

Motor

Credit

Corporation

779,000

4.700%, 

1/12/2033

736,114

Tripadvisor,

Inc.

103,000

7.000%, 

7/15/2025

h

102,804

Uber

Technologies,

Inc.

385,000

6.250%, 

1/15/2028

h

376,478

VICI

Properties,

LP/VICI

Note

Company,

Inc.

1,634,000

4.625%, 

6/15/2025

h

1,577,937

616,000

5.750%, 

2/1/2027

h

596,330

391,000

3.750%, 

2/15/2027

h

354,799

Viking

Cruises,

Ltd.

658,000

5.875%, 

9/15/2027

h

600,557

Volkswagen

Group

of

America

Finance,

LLC

792,000

4.350%, 

6/8/2027

h

753,661

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

230

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Consumer

Cyclical

(0.6%)

-

continued

Wabash

National

Corporation

$

528,000

4.500%, 

10/15/2028

h

$

444,767

Walmart,

Inc.

924,000

4.500%, 

9/9/2052

793,718

Wyndham

Hotels

&

Resorts,

Inc.

280,000

4.375%, 

8/15/2028

h

251,491

Yum!

Brands,

Inc.

630,000

4.750%, 

1/15/2030

h

565,879

ZF

North

America

Capital,

Inc.

280,000

7.125%, 

4/14/2030

h

274,339

Total

53,345,153

Consumer

Non-Cyclical

(0.7%)

1375209

B.C.,

Ltd.

342,000

9.000%, 

1/30/2028

h

338,058

Abbott

Laboratories

1,445,000

4.750%, 

11/30/2036

1,372,815

175,000

6.000%, 

4/1/2039

183,921

AbbVie,

Inc.

625,000

2.950%, 

11/21/2026

580,007

1,475,000

4.300%, 

5/14/2036

1,293,736

550,000

4.850%, 

6/15/2044

477,249

775,000

4.875%, 

11/14/2048

677,263

AdaptHealth,

LLC

618,000

4.625%, 

8/1/2029

h

474,318

Albertsons

Companies,

Inc./

Safeway,

Inc./New

Albertsons,

LP/Albertsons,

LLC

641,000

4.625%, 

1/15/2027

h

605,244

702,000

3.500%, 

3/15/2029

h

598,515

Amgen,

Inc.

1,000,000

4.200%, 

2/22/2052

748,956

919,000

5.250%, 

3/2/2030

897,851

919,000

5.600%, 

3/2/2043

854,378

Anheuser-Busch

Companies,

LLC/Anheuser-Busch

InBev

Worldwide,

Inc.

1,414,000

4.700%, 

2/1/2036

1,295,982

Anheuser-Busch

InBev

Worldwide,

Inc.

1,740,000

4.375%, 

4/15/2038

1,508,454

923,000

5.550%, 

1/23/2049

884,043

Archer-Daniels-Midland

Company

1,188,000

2.700%, 

9/15/2051

712,591

AstraZeneca

plc

1,600,000

3.000%, 

5/28/2051

1,046,061

B&G

Foods,

Inc.

367,000

5.250%, 

4/1/2025

360,145

206,000

5.250%, 

9/15/2027

172,519

274,000

8.000%, 

9/15/2028

h

274,374

BAT

Capital

Corporation

308,000

7.750%, 

10/19/2032

325,336

620,000

7.079%, 

8/2/2043

594,718

Bausch

&

Lomb

Escrow

Corporation

103,000

8.375%, 

10/1/2028

h

103,306

Bausch

Health

Companies,

Inc.

189,000

5.500%, 

11/1/2025

h

167,380

809,000

4.875%, 

6/1/2028

h

460,067

360,000

11.000%, 

9/30/2028

h

244,242

Baxter

International,

Inc.

923,000

3.132%, 

12/1/2051

549,235

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Consumer

Non-Cyclical

(0.7%)

-

continued

Becton,

Dickinson

and

Company

$

324,000

3.794%, 

5/20/2050

$

233,438

900,000

3.700%, 

6/6/2027

843,425

BellRing

Brands,

Inc.

286,000

7.000%, 

3/15/2030

h

281,613

Bristol-Myers

Squibb

Company

1,543,000

3.550%, 

3/15/2042

1,158,304

Cargill,

Inc.

930,000

3.125%, 

5/25/2051

h

596,271

Catalent

Pharma

Solutions,

Inc.

341,000

3.125%, 

2/15/2029

f,h

279,687

Central

Garden

&

Pet

Company

650,000

4.125%, 

10/15/2030

541,914

Cheplapharm

Arzneimittel

GmbH

70,000

5.500%, 

1/15/2028

h

63,513

Chobani,

LLC/Chobani

Finance

Corporation,

Inc.

491,000

4.625%, 

11/15/2028

h

433,052

CHS/Community

Health

Systems,

Inc.

376,000

5.625%, 

3/15/2027

h

322,501

118,000

8.000%, 

12/15/2027

h

110,035

499,000

6.000%, 

1/15/2029

h

402,983

209,000

5.250%, 

5/15/2030

h

158,877

220,000

4.750%, 

2/15/2031

h

155,698

Constellation

Brands,

Inc.

930,000

3.600%, 

2/15/2028

855,462

600,000

2.875%, 

5/1/2030

503,554

Coty,

Inc./HFC

Prestige

Products,

Inc./HFC

Prestige

International

US,

LLC

490,000

4.750%, 

1/15/2029

h

441,867

340,000

6.625%, 

7/15/2030

h

331,956

CVS

Health

Corporation

1,386,000

5.625%, 

2/21/2053

1,245,732

693,000

5.125%, 

2/21/2030

666,544

1,310,000

4.875%, 

7/20/2035

1,171,289

Edgewell

Personal

Care

Company

380,000

5.500%, 

6/1/2028

h

351,025

Eli

Lilly

&

Company

459,000

4.950%, 

2/27/2063

416,439

Embecta

Corporation

158,000

6.750%, 

2/15/2030

h

129,165

Encompass

Health

Corporation

750,000

4.500%, 

2/1/2028

f

683,338

Energizer

Holdings,

Inc.

590,000

4.750%, 

6/15/2028

h

509,570

Fortrea

Holdings,

Inc.

264,000

7.500%, 

7/1/2030

h

256,876

General

Mills,

Inc.

246,000

4.950%, 

3/29/2033

230,496

Grifols

SA

476,000

4.750%, 

10/15/2028

h

405,842

HCA,

Inc.

1,059,000

3.500%, 

9/1/2030

895,941

HLF

Financing

SARL,

LLC/

Herbalife

International,

Inc.

901,000

4.875%, 

6/1/2029

h

639,710

Imperial

Brands

Finance

plc

1,600,000

3.875%, 

7/26/2029

h

1,408,638

Jazz

Securities

DAC

275,000

4.375%, 

1/15/2029

h

239,768

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

231

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Consumer

Non-Cyclical

(0.7%)

-

continued

JBS

USA

LUX

SA/JBS

USA

Food

Company/JBS

Luxembourg

SARL

$

616,000

6.750%, 

3/15/2034

h

$

599,362

JBS

USA

LUX

SA/JBS

USA

Food

Company/JBS

USA

Finance,

Inc.

307,000

4.375%, 

2/2/2052

204,025

612,000

5.500%, 

1/15/2030

571,325

845,000

3.000%, 

5/15/2032

637,453

Kenvue,

Inc.

1,240,000

5.350%, 

3/22/2026

h

1,237,057

Kimberly-Clark

Corporation

900,000

3.900%, 

5/4/2047

690,795

Kraft

Heinz

Foods

Company

694,000

3.875%, 

5/15/2027

653,800

180,000

5.200%, 

7/15/2045

157,268

1,000,000

4.375%, 

6/1/2046

779,242

Lamb

Weston

Holdings,

Inc.

289,000

4.125%, 

1/31/2030

h

247,138

Legacy

LifePoint

Health,

LLC

204,000

4.375%, 

2/15/2027

h

175,440

LifePoint

Health,

Inc.

208,000

11.000%, 

10/15/2030

h

208,000

Mattel,

Inc.

605,000

3.375%, 

4/1/2026

h

559,443

769,000

5.450%, 

11/1/2041

634,291

Medtronic,

Inc.

923,000

4.375%, 

3/15/2035

836,047

ModivCare

Escrow

Issuer,

Inc.

170,000

5.000%, 

10/1/2029

h

121,975

ModivCare,

Inc.

136,000

5.875%, 

11/15/2025

h

129,276

Mozart

Debt

Merger

Sub,

Inc.

485,000

3.875%, 

4/1/2029

h

410,030

328,000

5.250%, 

10/1/2029

f,h

283,489

Nestle

Holdings,

Inc.

1,079,000

5.250%, 

3/13/2026

h

1,076,395

Newell

Brands,

Inc.

889,000

4.700%, 

4/1/2026

837,787

Organon

&

Company/Organon

Foreign

Debt

Co-Issuer

BV

473,000

4.125%, 

4/30/2028

h

410,994

280,000

5.125%, 

4/30/2031

h

224,379

Owens

&

Minor,

Inc.

462,000

6.625%, 

4/1/2030

f,h

410,064

PepsiCo,

Inc.

610,000

4.200%, 

7/18/2052

503,978

Perrigo

Finance

Unlimited

Company

494,000

4.375%, 

3/15/2026

461,901

Pfizer

Investment

Enterprises

Pte,

Ltd.

1,386,000

5.300%, 

5/19/2053

1,287,805

462,000

4.750%, 

5/19/2033

436,718

611,000

5.110%, 

5/19/2043

561,110

Philip

Morris

International,

Inc.

924,000

4.875%, 

2/13/2026

908,830

615,000

5.125%, 

11/17/2027

602,202

619,000

5.500%, 

9/7/2030

601,909

923,000

5.375%, 

2/15/2033

874,853

Post

Holdings,

Inc.

397,000

4.500%, 

9/15/2031

h

330,421

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Consumer

Non-Cyclical

(0.7%)

-

continued

Primo

Water

Holdings,

Inc.

$

410,000

4.375%, 

4/30/2029

h

$

350,550

RegionalCare

Hospital

Partners

Holdings,

Inc./LifePoint

Health,

Inc.

204,000

9.750%, 

12/1/2026

h

197,494

Reynolds

American,

Inc.

759,000

5.700%, 

8/15/2035

679,074

Roche

Holdings,

Inc.

1,158,000

4.000%, 

11/28/2044

h

938,675

Scotts

Miracle-Gro

Company

189,000

4.500%, 

10/15/2029

154,512

SEG

Holding,

LLC

740,000

5.625%, 

10/15/2028

h

741,850

Simmons

Foods,

Inc.

393,000

4.625%, 

3/1/2029

h

322,388

Spectrum

Brands,

Inc.

310,000

5.000%, 

10/1/2029

h

280,891

280,000

5.500%, 

7/15/2030

h

253,875

367,000

3.875%, 

3/15/2031

h

297,754

Star

Parent,

Inc.

342,000

9.000%, 

10/1/2030

h

345,592

Sysco

Corporation

935,000

6.600%, 

4/1/2040

955,455

Takeda

Pharmaceutical

Company,

Ltd.

925,000

3.175%, 

7/9/2050

585,338

Teleflex,

Inc.

385,000

4.250%, 

6/1/2028

h

344,402

Tenet

Healthcare

Corporation

1,340,000

5.125%, 

11/1/2027

1,247,051

255,000

6.125%, 

10/1/2028

239,381

407,000

6.750%, 

5/15/2031

h

392,539

Teva

Pharmaceutical

Finance

Netherlands

III

BV

390,000

3.150%, 

10/1/2026

347,595

TreeHouse

Foods,

Inc.

539,000

4.000%, 

9/1/2028

f

437,264

Wyeth,

LLC

619,000

6.500%, 

2/1/2034

665,725

Zoetis,

Inc.

1,451,000

4.700%, 

2/1/2043

1,250,685

Total

64,458,179

Energy

(0.5%)

Antero

Midstream

Partners,

LP/

Antero

Midstream

Finance

Corporation

132,000

5.375%, 

6/15/2029

h

120,858

Antero

Resources

Corporation

176,000

5.375%, 

3/1/2030

h

162,038

Archrock

Partners,

LP/Archrock

Partners

Finance

Corporation

570,000

6.250%, 

4/1/2028

h

530,684

Baytex

Energy

Corporation

339,000

8.500%, 

4/30/2030

h

343,009

BP

Capital

Markets

America,

Inc.

1,907,000

2.939%, 

6/4/2051

1,164,336

Buckeye

Partners,

LP

485,000

3.950%, 

12/1/2026

435,525

Callon

Petroleum

Company

217,000

7.500%, 

6/15/2030

f,h

210,398

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

232

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Energy

(0.5%)

-

continued

Canadian

Natural

Resources,

Ltd.

$

525,000

2.950%, 

7/15/2030

$

435,431

Cheniere

Energy

Partners,

LP

2,461,000

4.500%, 

10/1/2029

2,228,370

Chesapeake

Energy

Corporation

314,000

6.750%, 

4/15/2029

h

307,281

Chord

Energy

Corporation

253,000

6.375%, 

6/1/2026

h

248,072

Civitas

Resources,

Inc.

153,000

8.375%, 

7/1/2028

h

155,677

233,000

8.750%, 

7/1/2031

h

238,002

CNX

Resources

Corporation

196,000

6.000%, 

1/15/2029

h

183,148

Columbia

Pipelines

Holding

Company,

LLC

613,000

6.042%, 

8/15/2028

h

609,893

Columbia

Pipelines

Operating

Company,

LLC

153,000

5.927%, 

8/15/2030

h

151,030

Comstock

Resources,

Inc.

410,000

5.875%, 

1/15/2030

h

354,908

Continental

Resources,

Inc.

1,076,000

2.268%, 

11/15/2026

h

953,280

CQP

Holdco,

LP/BIP-V

Chinnok

Holdco,

LLC

377,000

5.500%, 

6/15/2031

h

334,153

Crescent

Energy

Finance,

LLC

374,000

9.250%, 

2/15/2028

h

381,835

CrownRock,

LP/CrownRock

Finance,

Inc.

303,000

5.625%, 

10/15/2025

h

298,137

Diamond

Foreign

Asset

Company/

Diamond

Finance,

LLC

137,000

8.500%, 

10/1/2030

h

137,019

DT

Midstream,

Inc.

278,000

4.125%, 

6/15/2029

h

240,482

165,000

4.375%, 

6/15/2031

h

138,751

Enbridge,

Inc.

844,000

2.500%, 

2/14/2025

804,202

Enerflex,

Ltd.

275,000

9.000%, 

10/15/2027

h

271,562

Energy

Transfer,

LP

754,000

4.000%, 

10/1/2027

700,124

970,000

4.900%, 

3/15/2035

853,093

800,000

5.150%, 

2/1/2043

635,752

1,100,000

6.000%, 

6/15/2048

976,289

EnLink

Midstream

Partners,

LP

580,000

4.850%, 

7/15/2026

546,046

Enterprise

Products

Operating,

LLC

876,000

3.300%, 

2/15/2053

570,020

EQM

Midstream

Partners,

LP

933,000

4.750%, 

1/15/2031

h

803,069

EQT

Corporation

511,000

6.125%, 

2/1/2025

509,238

923,000

3.900%, 

10/1/2027

853,751

Exxon

Mobil

Corporation

1,450,000

3.452%, 

4/15/2051

1,014,525

Ferrellgas,

LP/Ferrellgas

Finance

Corporation

339,000

5.375%, 

4/1/2026

h

317,743

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Energy

(0.5%)

-

continued

Genesis

Energy

LP/Genesis

Energy

Finance

Corporation

$

549,000

8.875%, 

4/15/2030

$

536,037

Halliburton

Company

807,000

4.850%, 

11/15/2035

725,733

615,000

5.000%, 

11/15/2045

521,326

Harvest

Midstream,

LP

726,000

7.500%, 

9/1/2028

h

701,775

Hess

Midstream

Operations,

LP

344,000

5.625%, 

2/15/2026

h

332,390

Hilcorp

Energy

I,

LP/Hilcorp

Finance

Company

540,000

5.750%, 

2/1/2029

h

487,617

279,000

6.250%, 

4/15/2032

h

248,073

Howard

Midstream

Energy

Partners,

LLC

503,000

6.750%, 

1/15/2027

h

477,850

ITT

Holdings,

LLC

470,000

6.500%, 

8/1/2029

h

398,383

Laredo

Petroleum,

Inc.

575,000

7.750%, 

7/31/2029

h

534,937

Magellan

Midstream

Partners,

LP

603,000

5.000%, 

3/1/2026

591,832

MEG

Energy

Corporation

441,000

5.875%, 

2/1/2029

h

411,839

MPLX,

LP

746,000

4.875%, 

6/1/2025

731,725

1,231,000

4.950%, 

9/1/2032

1,121,086

230,000

5.000%, 

3/1/2033

209,584

Murphy

Oil

Corporation

350,000

5.875%, 

12/1/2027

339,641

Nabors

Industries,

Ltd.

630,000

7.250%, 

1/15/2026

h

608,738

National

Fuel

Gas

Company

1,000,000

5.500%, 

1/15/2026

983,466

New

Fortress

Energy,

Inc.

210,000

6.750%, 

9/15/2025

h

200,467

Noble

Finance

II,

LLC

336,000

8.000%, 

4/15/2030

h

340,394

Northern

Oil

and

Gas,

Inc.

340,000

8.750%, 

6/15/2031

h

342,550

Northriver

Midstream

Finance,

LP

165,000

5.625%, 

2/15/2026

h

157,237

NuStar

Logistics,

LP

312,000

5.750%, 

10/1/2025

303,420

Occidental

Petroleum

Corporation

1,550,000

7.875%, 

9/15/2031

1,677,256

Ovintiv,

Inc.

308,000

5.650%, 

5/15/2025

306,237

1,071,000

5.375%, 

1/1/2026

1,055,970

PBF

Holding

Company,

LLC/PBF

Finance

Corporation

273,000

6.000%, 

2/15/2028

257,485

Permian

Resources

Operating,

LLC

310,000

7.000%, 

1/15/2032

h

305,726

Phillips

66

Company

692,000

4.950%, 

12/1/2027

678,139

Precision

Drilling

Corporation

410,000

6.875%, 

1/15/2029

h

388,353

Range

Resources

Corporation

273,000

4.750%, 

2/15/2030

h

242,288

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

233

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Energy

(0.5%)

-

continued

Rockcliff

Energy

II,

LLC

$

361,000

5.500%, 

10/15/2029

h

$

324,888

Rockies

Express

Pipeline,

LLC

102,000

4.950%, 

7/15/2029

h

90,851

SM

Energy

Company

163,000

6.625%, 

1/15/2027

159,740

245,000

6.500%, 

7/15/2028

235,200

Southwestern

Energy

Company

360,000

5.375%, 

3/15/2030

327,979

235,000

4.750%, 

2/1/2032

201,698

Suburban

Propane

Partners,

LP/

Suburban

Energy

Finance

Corporation

152,000

5.875%, 

3/1/2027

145,160

Suncor

Energy,

Inc.

1,117,000

7.150%, 

2/1/2032

1,174,991

Sunoco,

LP/Sunoco

Finance

Corporation

545,000

5.875%, 

3/15/2028

522,827

Tallgrass

Energy

Partners

LP/

Tallgrass

Energy

Finance

Corporation

617,000

5.500%, 

1/15/2028

h

561,470

Targa

Resources

Corporation

1,077,000

4.200%, 

2/1/2033

915,760

Teine

Energy,

Ltd.

345,000

6.875%, 

4/15/2029

h

316,538

Transocean

Titan

Financing,

Ltd.

325,000

8.375%, 

2/1/2028

h

330,688

Transocean,

Inc.

330,000

11.500%, 

1/30/2027

h

346,088

193,800

8.750%, 

2/15/2030

h

198,161

USA

Compression

Partners,

LP/

USA

Compression

Finance

Corporation

456,000

6.875%, 

4/1/2026

446,672

Valaris,

Ltd.

339,000

8.375%, 

4/30/2030

h

339,254

Venture

Global

Calcasieu

Pass,

LLC

483,000

3.875%, 

8/15/2029

h

406,434

344,000

6.250%, 

1/15/2030

h

328,131

290,000

4.125%, 

8/15/2031

h

237,980

Venture

Global

LNG,

Inc.

692,000

8.375%, 

6/1/2031

h

680,279

Weatherford

International,

Ltd.

524,000

8.625%, 

4/30/2030

h

528,011

Western

Midstream

Operating,

LP

619,000

6.350%, 

1/15/2029

620,276

308,000

6.150%, 

4/1/2033

297,038

Williams

Companies,

Inc.

615,000

5.300%, 

8/15/2052

522,692

1,015,000

7.500%, 

1/15/2031

1,079,401

Total

46,773,492

Financials

(1.8%)

Acrisure,

LLC/Acrisure

Finance,

Inc.

118,000

6.000%, 

8/1/2029

h

99,161

AerCap

Ireland

Capital

DAC/

AerCap

Global

Aviation

Trust

697,000

3.500%, 

1/15/2025

672,364

692,000

6.100%, 

1/15/2027

688,612

1,250,000

3.875%, 

1/23/2028

1,133,621

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Financials

(1.8%)

-

continued

$

550,000

3.400%, 

10/29/2033

$

425,437

Air

Lease

Corporation

1,500,000

3.000%, 

2/1/2030

1,233,741

Aircastle,

Ltd.

650,000

5.250%, 

8/11/2025

h

633,128

Alliant

Holdings

Intermediate,

LLC/

Alliant

Holdings

Co-Issuer,

Inc.

261,000

6.750%, 

10/15/2027

h

242,733

Ally

Financial,

Inc.

1,000,000

5.750%, 

11/20/2025

971,357

1,000,000

8.000%, 

11/1/2031

1,009,635

88,000

6.700%, 

2/14/2033

76,392

American

Homes

4

Rent,

LP

1,000,000

2.375%, 

7/15/2031

762,430

American

International

Group,

Inc.

1,248,000

5.125%, 

3/27/2033

1,161,213

AmWINS

Group,

Inc.

315,000

4.875%, 

6/30/2029

h

276,012

ANZ

Bank

New

Zealand,

Ltd.

600,000

5.548%, 

8/11/2032

b,h

582,578

Aon

Corporation/Aon

Global

Holdings

plc

304,000

5.350%, 

2/28/2033

291,431

Ares

Capital

Corporation

455,000

3.250%, 

7/15/2025

426,206

1,100,000

3.875%, 

1/15/2026

1,029,286

550,000

2.150%, 

7/15/2026

482,547

Associated

Banc-Corp

750,000

4.250%, 

1/15/2025

721,254

Australia

&

New

Zealand

Banking

Group,

Ltd.

700,000

2.950%, 

7/22/2030

b,h

649,806

Avolon

Holdings

Funding,

Ltd.

541,000

5.250%, 

5/15/2024

h

535,797

275,000

4.250%, 

4/15/2026

h

258,471

Banco

Santander

Mexico

SA

875,000

5.375%, 

4/17/2025

h

859,998

Banco

Santander

SA

1,200,000

4.175%, 

3/24/2028

b

1,108,053

Bank

of

America

Corporation

1,062,000

5.080%, 

1/20/2027

b

1,038,055

575,000

1.734%, 

7/22/2027

b

509,542

800,000

3.824%, 

1/20/2028

b

742,912

537,000

5.202%, 

4/25/2029

b

517,294

500,000

2.087%, 

6/14/2029

b

418,567

1,500,000

2.496%, 

2/13/2031

b

1,202,158

1,475,000

1.922%, 

10/24/2031

b

1,112,790

923,000

2.972%, 

2/4/2033

b

727,836

1,844,000

4.571%, 

4/27/2033

b

1,637,164

928,000

5.872%, 

9/15/2034

b

903,112

1,230,000

3.846%, 

3/8/2037

b

1,000,426

Bank

of

Nova

Scotia

308,000

4.850%, 

2/1/2030

290,041

Barclays

plc

930,000

6.496%, 

9/13/2027

b

927,533

1,290,000

4.972%, 

5/16/2029

b

1,205,095

900,000

5.746%, 

8/9/2033

b

830,578

Berkshire

Hathaway

Finance

Corporation

1,231,000

2.850%, 

10/15/2050

765,890

Blackstone

Private

Credit

Fund

917,000

2.700%, 

1/15/2025

868,533

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

234

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Financials

(1.8%)

-

continued

Blue

Owl

Capital

Corporation

$

250,000

4.250%, 

1/15/2026

$

233,884

Blue

Owl

Credit

Income

Corporation

769,000

4.700%, 

2/8/2027

699,767

Blue

Owl

Technology

Finance

Corporation

250,000

4.750%, 

12/15/2025

h

231,240

BNP

Paribas

SA

1,538,000

3.132%, 

1/20/2033

b,h

1,208,386

BPCE

SA

1,091,000

3.500%, 

10/23/2027

h

985,544

Brookfield

Property

REIT,

Inc./BPR

Cumulus,

LLC/BPR

Nimbus,

LLC/GGSI

Sellco,

LLC

119,000

4.500%, 

4/1/2027

h

99,170

Burford

Capital

Global

Finance,

LLC

375,000

9.250%, 

7/1/2031

h

380,429

Camden

Property

Trust

1,800,000

3.150%, 

7/1/2029

1,594,681

Canadian

Imperial

Bank

of

Commerce

923,000

5.001%, 

4/28/2028

886,143

Capital

One

Financial

Corporation

1,100,000

4.200%, 

10/29/2025

1,048,900

920,000

2.636%, 

3/3/2026

b

868,267

Castlelake

Aviation

Finance

DAC

180,000

5.000%, 

4/15/2027

h

164,404

Centene

Corporation

1,505,000

2.625%, 

8/1/2031

1,152,683

Charles

Schwab

Corporation

1,535,000

2.450%, 

3/3/2027

1,367,291

619,000

6.136%, 

8/24/2034

b

602,136

Chubb

INA

Holdings,

Inc.

615,000

4.350%, 

11/3/2045

504,562

Citigroup,

Inc.

827,000

0.981%, 

5/1/2025

b

800,381

1,515,000

4.400%, 

6/10/2025

1,470,057

745,000

3.200%, 

10/21/2026

687,804

1,094,000

3.668%, 

7/24/2028

b

1,003,541

490,000

4.125%, 

7/25/2028

445,806

915,000

3.520%, 

10/27/2028

b

827,761

1,308,000

4.910%, 

5/24/2033

b

1,190,158

778,000

6.174%, 

5/25/2034

b

743,475

Cooperatieve

Rabobank

UA

1,227,000

5.564%, 

2/28/2029

b,h

1,195,878

Corebridge

Financial,

Inc.

616,000

4.400%, 

4/5/2052

450,651

462,000

4.350%, 

4/5/2042

349,337

Credit

Acceptance

Corporation

620,000

5.125%, 

12/31/2024

h

603,864

Credit

Agricole

SA

625,000

6.875%, 

9/23/2024

b,h,l

609,655

Credit

Suisse

Group

AG

900,000

7.250%, 

9/12/2025

b,h,l,m

85,500

Danske

Bank

AS

450,000

0.976%, 

9/10/2025

b,h

426,540

Deutsche

Bank

AG/New

York,

NY

1,175,000

3.729%, 

1/14/2032

b

874,663

Discover

Bank

1,670,000

5.974%, 

(USISOA05

+

1.730%),

8/9/2028

b

1,528,102

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Financials

(1.8%)

-

continued

Drawbridge

Special

Opportunities

Fund,

LP

$

564,000

3.875%, 

2/15/2026

h

$

501,800

Elevance

Health,

Inc.

1,185,000

3.125%, 

5/15/2050

745,365

820,000

4.625%, 

5/15/2042

687,768

Enact

Holdings,

Inc.

257,000

6.500%, 

8/15/2025

h

253,122

EPR

Properties

405,000

4.950%, 

4/15/2028

358,860

Fifth

Third

Bancorp

484,000

6.339%, 

7/27/2029

b

478,127

First

Horizon

Bank

250,000

5.750%, 

5/1/2030

f

223,769

First

Horizon

National

Corporation

1,000,000

4.000%, 

5/26/2025

944,175

First-Citizens

Bank

&

Trust

Company

1,155,000

6.125%, 

3/9/2028

1,147,204

Five

Corners

Funding

Trust

IV

616,000

5.997%, 

2/15/2053

h

583,493

Fortress

Transportation

and

Infrastructure

Investors,

LLC

346,000

6.500%, 

10/1/2025

h

340,064

171,000

9.750%, 

8/1/2027

h

176,872

85,000

5.500%, 

5/1/2028

h

77,060

Freedom

Mortgage

Corporation

137,000

12.000%, 

10/1/2028

h

139,309

FS

KKR

Capital

Corporation

961,000

4.250%, 

2/14/2025

h

920,152

1,300,000

3.400%, 

1/15/2026

1,191,303

GGAM

Finance,

Ltd.

338,000

7.750%, 

5/15/2026

h

334,621

Global

Net

Lease,

Inc./Global

Net

Lease

Operating

Partnership,

LP

645,000

3.750%, 

12/15/2027

h

499,388

Goldman

Sachs

Group,

Inc.

785,000

1.948%, 

10/21/2027

b

693,118

275,000

1.992%, 

1/27/2032

b

206,146

2,769,000

3.102%, 

2/24/2033

b

2,214,388

1,130,000

4.750%, 

10/21/2045

950,923

Healthpeak

OP,

LLC

205,000

3.400%, 

2/1/2025

197,872

HSBC

Holdings

plc

734,000

1.162%, 

11/22/2024

b

727,093

1,850,000

3.803%, 

3/11/2025

b

1,827,187

1,100,000

2.999%, 

3/10/2026

b

1,048,256

710,000

3.900%, 

5/25/2026

671,774

900,000

5.402%, 

8/11/2033

b

829,363

HUB

International,

Ltd.

515,000

5.625%, 

12/1/2029

h

448,440

Icahn

Enterprises,

LP/Icahn

Enterprises

Finance

Corporation

347,000

6.375%, 

12/15/2025

330,089

383,000

5.250%, 

5/15/2027

336,649

Intercontinental

Exchange,

Inc.

575,000

4.950%, 

6/15/2052

497,827

Invitation

Homes

Operating

Partnership,

LP

769,000

2.000%, 

8/15/2031

569,091

J.P.

Morgan

Chase

&

Company

500,000

0.824%, 

6/1/2025

b

481,327

312,000

1.561%, 

12/10/2025

b

294,866

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

235

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Financials

(1.8%)

-

continued

$

850,000

1.040%, 

2/4/2027

b

$

756,461

720,000

1.578%, 

4/22/2027

b

642,551

1,230,000

2.947%, 

2/24/2028

b

1,115,798

1,475,000

4.203%, 

7/23/2029

b

1,366,968

900,000

2.522%, 

4/22/2031

b

729,521

1,100,000

1.953%, 

2/4/2032

b

834,210

1,229,000

4.586%, 

4/26/2033

b

1,107,876

923,000

4.912%, 

7/25/2033

b

849,206

1,265,000

3.882%, 

7/24/2038

b

1,010,045

Jefferies

Finance,

LLC/JFIN

Co-

Issuer

Corporation

137,000

5.000%, 

8/15/2028

h

115,355

KeyBank

NA/Cleveland,

OH

651,000

5.000%, 

1/26/2033

547,989

KeyCorp

450,000

3.878%, 

5/23/2025

b

433,795

Kimco

Realty

Corporation

941,000

3.300%, 

2/1/2025

905,267

Lloyds

Banking

Group

plc

920,000

5.871%, 

3/6/2029

b

899,571

LPL

Holdings,

Inc.

410,000

4.000%, 

3/15/2029

h

357,464

Macquarie

Group,

Ltd.

1,103,000

1.201%, 

10/14/2025

b,h

1,045,885

Manufacturers

&

Traders

Trust

Company

923,000

4.700%, 

1/27/2028

852,439

Marsh

&

McLennan

Companies,

Inc.

231,000

5.450%, 

3/15/2053

215,629

619,000

5.400%, 

9/15/2033

602,663

Massachusetts

Mutual

Life

Insurance

Company

1,150,000

3.200%, 

12/1/2061

*

646,851

Mitsubishi

UFJ

Financial

Group,

Inc.

835,000

0.962%, 

10/11/2025

b

789,554

922,000

5.422%, 

2/22/2029

b

902,392

1,750,000

2.048%, 

7/17/2030

1,363,383

Molina

Healthcare,

Inc.

351,000

4.375%, 

6/15/2028

h

314,513

Morgan

Stanley

900,000

2.630%, 

2/18/2026

b

856,646

600,000

2.188%, 

4/28/2026

b

563,636

1,925,000

4.350%, 

9/8/2026

1,835,447

1,211,000

5.050%, 

1/28/2027

b

1,187,060

1,244,000

3.591%, 

7/22/2028

b

1,135,000

615,000

5.164%, 

4/20/2029

b

591,664

1,600,000

3.622%, 

4/1/2031

b

1,378,358

615,000

5.250%, 

4/21/2034

b

571,015

1,076,000

5.297%, 

4/20/2037

b

958,733

825,000

2.802%, 

1/25/2052

b

480,292

MPT

Operating

Partnership,

LP/

MPT

Finance

Corporation

467,000

4.625%, 

8/1/2029

330,759

Nasdaq,

Inc.

750,000

3.250%, 

4/28/2050

468,448

Nationstar

Mortgage

Holdings,

Inc.

341,000

6.000%, 

1/15/2027

h

322,219

NatWest

Group

plc

1,250,000

4.445%, 

5/8/2030

b

1,128,236

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Financials

(1.8%)

-

continued

Necessity

Retail

REIT,

Inc./

American

Finance

Operating

Partner,

LP

$

409,000

4.500%, 

9/30/2028

h

$

310,668

New

York

Life

Global

Funding

925,000

4.550%, 

1/28/2033

h

847,999

NFP

Corporation

204,000

6.875%, 

8/15/2028

h

174,762

NNN

REIT,

Inc.

940,000

5.600%, 

10/15/2033

885,700

Office

Properties

Income

Trust

148,000

2.650%, 

6/15/2026

100,680

Omega

Healthcare

Investors,

Inc.

780,000

3.625%, 

10/1/2029

650,219

875,000

3.375%, 

2/1/2031

684,068

OneMain

Finance

Corporation

705,000

6.875%, 

3/15/2025

699,411

560,000

3.875%, 

9/15/2028

449,480

Park

Intermediate

Holdings,

LLC

546,000

4.875%, 

5/15/2029

h

461,889

Pine

Street

Trust

I

923,000

4.572%, 

2/15/2029

h

830,545

PNC

Financial

Services

Group,

Inc.

952,000

5.812%, 

6/12/2026

b

944,404

1,230,000

4.626%, 

6/6/2033

b

1,061,081

PRA

Group,

Inc.

332,000

7.375%, 

9/1/2025

h

323,287

274,000

8.375%, 

2/1/2028

h

249,340

Principal

Life

Global

Funding

II

825,000

1.250%, 

8/16/2026

h

722,029

Prologis,

LP

617,000

2.875%, 

11/15/2029

529,190

Prudential

Financial,

Inc.

1,170,000

5.125%, 

3/1/2052

b

1,007,539

Radian

Group,

Inc.

340,000

4.875%, 

3/15/2027

317,687

Realty

Income

Corporation

394,000

4.125%, 

10/15/2026

377,409

Regency

Centers,

LP

1,100,000

4.125%, 

3/15/2028

1,017,914

RLJ

Lodging

Trust,

LP

172,000

3.750%, 

7/1/2026

h

155,555

363,000

4.000%, 

9/15/2029

h

297,275

Rocket

Mortgage,

LLC/Rocket

Mortgage

Co-Issuer,

Inc.

440,000

3.625%, 

3/1/2029

h

363,764

Royal

Bank

of

Canada

953,000

5.200%, 

7/20/2026

942,603

769,000

5.000%, 

5/2/2033

f

714,458

Santander

Holdings

USA,

Inc.

308,000

6.499%, 

3/9/2029

b

300,380

Santander

UK

Group

Holdings

plc

1,000,000

1.673%, 

6/14/2027

b

874,698

Service

Properties

Trust

195,000

4.650%, 

3/15/2024

192,342

111,000

4.350%, 

10/1/2024

106,483

458,000

7.500%, 

9/15/2025

449,955

260,000

5.500%, 

12/15/2027

222,205

Simon

Property

Group,

LP

1,025,000

3.800%, 

7/15/2050

696,143

SLM

Corporation

180,000

4.200%, 

10/29/2025

168,428

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

236

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Financials

(1.8%)

-

continued

Societe

Generale

SA

$

1,122,000

4.750%, 

11/24/2025

h

$

1,073,197

Spirit

Realty,

LP

1,250,000

2.100%, 

3/15/2028

1,052,149

Standard

Chartered

plc

1,847,000

1.822%, 

11/23/2025

b,h

1,745,298

Sumitomo

Mitsui

Financial

Group,

Inc.

1,140,000

3.010%, 

10/19/2026

1,049,591

922,000

5.710%, 

1/13/2030

902,102

850,000

1.710%, 

1/12/2031

633,704

Synchrony

Financial

590,000

4.250%, 

8/15/2024

576,195

87,000

7.250%, 

2/2/2033

76,787

Synovus

Bank

1,201,000

5.625%, 

2/15/2028

1,088,192

Toronto-Dominion

Bank

924,000

5.156%, 

1/10/2028

901,816

805,000

5.523%, 

7/17/2028

794,566

Truist

Financial

Corporation

623,000

6.047%, 

6/8/2027

b

616,223

440,000

5.125%, 

12/15/2027

b,l

338,008

770,000

5.122%, 

1/26/2034

b

688,340

U.S.

Bancorp

616,000

5.727%, 

10/21/2026

b

610,876

954,000

5.775%, 

6/12/2029

b

928,605

244,000

5.836%, 

6/12/2034

b

230,129

UBS

Group

AG

1,800,000

2.193%, 

6/5/2026

b,h

1,674,107

928,000

6.246%, 

9/22/2029

b,h

918,264

767,000

3.091%, 

5/14/2032

b,h

605,814

UDR,

Inc.

875,000

2.100%, 

8/1/2032

631,007

United

Wholesale

Mortgage,

LLC

109,000

5.500%, 

11/15/2025

h

103,678

268,000

5.500%, 

4/15/2029

h

226,460

UnitedHealth

Group,

Inc.

616,000

5.875%, 

2/15/2053

618,191

923,000

4.750%, 

5/15/2052

786,992

1,275,000

4.625%, 

7/15/2035

1,177,188

USI,

Inc./NY

137,000

6.875%, 

5/1/2025

h

135,945

Wells

Fargo

&

Company

125,000

3.000%, 

4/22/2026

116,437

1,475,000

3.000%, 

10/23/2026

1,354,630

923,000

3.526%, 

3/24/2028

b

847,659

1,400,000

2.393%, 

6/2/2028

b

1,227,757

644,000

5.574%, 

7/25/2029

b

628,281

507,000

5.389%, 

4/24/2034

b

473,998

1,180,000

4.900%, 

11/17/2045

946,478

Welltower

OP,

LLC

750,000

2.050%, 

1/15/2029

619,926

Willis

North

America,

Inc.

1,231,000

4.650%, 

6/15/2027

1,178,255

XHR,

LP

172,000

6.375%, 

8/15/2025

f,h

168,868

189,000

4.875%, 

6/1/2029

h

160,650

Total

154,525,162

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Foreign

Government

(<0.1%)

NBN

Company,

Ltd.

$

1,050,000

2.625%, 

5/5/2031

h

$

846,252

Total

846,252

Mortgage-Backed

Securities

(4.9%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

21,725,553

2.500%, 

5/1/2051

17,338,109

7,671,955

3.500%, 

5/1/2052

6,606,567

9,695,930

4.000%, 

5/1/2052

8,701,929

20,507,858

3.500%, 

6/1/2052

17,672,850

5,318,243

5.000%, 

7/1/2053

5,034,257

2,980,080

5.500%, 

7/1/2053

2,891,443

6,967,920

3.500%, 

8/1/2052

6,029,854

7,600,000

5.500%, 

9/1/2053

7,373,913

Federal

Home

Loan

Mortgage

Corporation

Gold

15-Yr.

Pass

Through

5,378,110

2.500%, 

7/1/2030

4,902,200

Federal

National

Mortgage

Association

Conventional

20-Yr.

Pass

Through

5,541,541

3.000%, 

12/1/2036

4,944,339

5,879,685

3.000%, 

8/1/2038

5,221,552

8,768,596

3.500%, 

5/1/2040

7,789,801

5,519,497

2.500%, 

4/1/2042

4,540,003

2,429,095

2.000%, 

5/1/2042

1,966,560

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

21,395,665

3.000%, 

1/1/2052

17,811,856

1,395,785

2.000%, 

2/1/2051

1,067,400

2,182,725

2.000%, 

2/1/2051

1,671,784

5,937,135

2.500%, 

2/1/2051

4,757,555

10,843,800

2.500%, 

2/1/2051

8,671,913

28,986,206

2.000%, 

3/1/2051

22,153,233

22,085,563

3.000%, 

3/1/2052

18,315,761

18,226,813

2.000%, 

4/1/2051

13,928,250

12,979,992

3.000%, 

4/1/2051

10,776,259

13,530,320

3.000%, 

5/1/2050

11,320,996

2,626,731

2.000%, 

5/1/2051

2,003,291

10,463,752

3.000%, 

5/1/2051

8,796,851

8,467,961

3.000%, 

6/1/2050

7,152,868

3,934,646

5.000%, 

6/1/2053

3,730,633

16,474,696

2.500%, 

7/1/2051

13,151,225

5,320,733

3.500%, 

7/1/2051

4,652,528

2,251,507

2.500%, 

8/1/2050

1,817,607

11,011,376

3.500%, 

8/1/2050

9,638,657

8,046,607

3.500%, 

9/1/2052

6,957,396

9,714,446

4.500%, 

9/1/2053

8,929,788

16,083,287

4.000%, 

10/1/2052

14,365,747

2,598,697

2.000%, 

11/1/2051

1,984,293

10,585,541

2.000%, 

12/1/2050

8,107,931

28,099,657

2.500%, 

12/1/2051

22,453,380

16,469,659

4.500%, 

12/1/2052

15,188,774

350,000

5.500%, 

10/1/2041

e

338,229

16,500,000

6.000%, 

10/1/2041

e

16,283,438

15,000,000

4.000%, 

10/1/2048

e

13,353,516

16,475,000

4.500%, 

10/1/2048

e

15,126,109

21,860,000

5.000%, 

10/1/2048

e

20,623,544

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

237

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Mortgage-Backed

Securities

(4.9%)

-

continued

Federal

National

Mortgage

Association

Conventional

40-Yr.

Pass

Through

$

19,454,054

2.500%, 

3/1/2062

$

14,930,140

5,565,405

3.500%, 

7/1/2061

4,733,441

8,328,044

4.000%, 

12/1/2061

7,417,010

Total

433,224,780

Technology

(0.4%)

Advanced

Micro

Devices,

Inc.

615,000

4.393%, 

6/1/2052

500,999

Analog

Devices,

Inc.

1,150,000

2.950%, 

10/1/2051

717,836

Apple,

Inc.

1,077,000

2.650%, 

2/8/2051

653,241

2,020,000

3.750%, 

9/12/2047

1,561,375

AthenaHealth

Group,

Inc.

480,000

6.500%, 

2/15/2030

f,h

401,524

Broadcom,

Inc.

354,000

3.469%, 

4/15/2034

h

278,036

1,231,000

3.137%, 

11/15/2035

h

897,500

1,350,000

3.187%, 

11/15/2036

h

969,284

600,000

4.926%, 

5/15/2037

h

517,156

Cloud

Software

Group,

Inc.

384,000

6.500%, 

3/31/2029

h

339,583

134,000

9.000%, 

9/30/2029

h

116,446

CommScope

Technologies,

LLC

184,000

6.000%, 

6/15/2025

h

175,159

CommScope,

Inc.

385,000

7.125%, 

7/1/2028

f,h

230,349

Dell

International,

LLC/EMC

Corporation

931,000

6.020%, 

6/15/2026

934,630

Fiserv,

Inc.

1,000,000

2.250%, 

6/1/2027

887,449

639,000

2.650%, 

6/1/2030

524,913

537,000

5.600%, 

3/2/2033

520,452

Gartner,

Inc.

325,000

3.625%, 

6/15/2029

h

278,029

605,000

3.750%, 

10/1/2030

h

507,718

Global

Payments,

Inc.

923,000

5.300%, 

8/15/2029

880,215

GTCR

W-2

Merger

Sub,

LLC

268,000

7.500%, 

1/15/2031

e,h

268,375

II-VI,

Inc.

164,000

5.000%, 

12/15/2029

f,h

142,195

Intel

Corporation

616,000

4.875%, 

2/10/2028

604,274

Iron

Mountain,

Inc.

570,000

4.875%, 

9/15/2029

h

499,573

750,000

5.250%, 

7/15/2030

h

655,234

585,000

4.500%, 

2/15/2031

h

481,141

KLA

Corporation

923,000

3.300%, 

3/1/2050

613,376

Marvell

Technology,

Inc.

155,000

5.950%, 

9/15/2033

152,134

Mastercard,

Inc.

729,000

3.950%, 

2/26/2048

577,191

Microsoft

Corporation

565,000

3.041%, 

3/17/2062

357,712

1,130,000

3.700%, 

8/8/2046

889,112

NCR

Corporation

516,000

5.125%, 

4/15/2029

h

454,626

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Technology

(0.4%)

-

continued

$

511,000

6.125%, 

9/1/2029

h

$

524,044

NXP

BV/NXP

Funding,

LLC

480,000

5.550%, 

12/1/2028

469,818

NXP

BV/NXP

Funding,

LLC/NXP

USA,

Inc.

480,000

4.300%, 

6/18/2029

439,731

480,000

3.250%, 

5/11/2041

322,941

Open

Text

Corporation

207,000

3.875%, 

12/1/2029

h

170,158

675,000

4.125%, 

2/15/2030

h

564,706

Oracle

Corporation

615,000

6.900%, 

11/9/2052

633,529

1,540,000

6.150%, 

11/9/2029

1,563,336

1,815,000

3.850%, 

7/15/2036

1,435,046

1,250,000

4.000%, 

7/15/2046

882,052

PTC,

Inc.

300,000

3.625%, 

2/15/2025

h

288,309

270,000

4.000%, 

2/15/2028

h

241,988

Rackspace

Technology

Global,

Inc.

540,000

5.375%, 

12/1/2028

h

181,086

RingCentral,

Inc.

344,000

8.500%, 

8/15/2030

h

332,304

Roper

Technologies,

Inc.

771,000

1.750%, 

2/15/2031

584,938

S&P

Global,

Inc.

155,000

5.250%, 

9/15/2033

h

151,083

Seagate

HDD

Cayman

201,000

8.500%, 

7/15/2031

h

206,183

528,350

9.625%, 

12/1/2032

h

569,319

Sensata

Technologies

BV

575,000

4.000%, 

4/15/2029

h

495,131

Sensata

Technologies,

Inc.

393,000

3.750%, 

2/15/2031

h

318,065

Shift4

Payments,

LLC/Shift4

Payments

Finance

Sub,

Inc.

190,000

4.625%, 

11/1/2026

h

179,143

SS&C

Technologies,

Inc.

1,120,000

5.500%, 

9/30/2027

h

1,056,877

Texas

Instruments,

Inc.

615,000

5.050%, 

5/18/2063

545,092

Viavi

Solutions,

Inc.

396,000

3.750%, 

10/1/2029

h

321,908

Visa,

Inc.

1,284,000

2.700%, 

4/15/2040

904,186

VMware,

Inc.

565,000

4.650%, 

5/15/2027

544,870

900,000

2.200%, 

8/15/2031

679,168

Total

32,191,848

Transportation

(0.2%)

Allegiant

Travel

Company

310,000

7.250%, 

8/15/2027

h

291,787

American

Airlines

Group,

Inc.

119,000

3.750%, 

3/1/2025

h

112,732

American

Airlines,

Inc.

710,000

11.750%, 

7/15/2025

h

763,245

246,000

7.250%, 

2/15/2028

h

235,202

American

Airlines,

Inc./

AAdvantage

Loyalty

IP,

Ltd.

1,068,834

5.500%, 

4/20/2026

h

1,043,890

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

238

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Transportation

(0.2%)

-

continued

Avis

Budget

Car

Rental,

LLC/Avis

Budget

Finance,

Inc.

$

216,000

5.375%, 

3/1/2029

f,h

$

191,975

Burlington

Northern

Santa

Fe,

LLC

724,000

2.875%, 

6/15/2052

445,341

608,000

5.750%, 

5/1/2040

603,577

625,000

4.450%, 

3/15/2043

522,257

Canadian

Pacific

Railway

Company

615,000

4.700%, 

5/1/2048

509,056

CSX

Corporation

900,000

3.800%, 

4/15/2050

649,602

Delta

Air

Lines,

Inc./SkyMiles

IP,

Ltd.

1,340,000

4.750%, 

10/20/2028

h

1,273,459

ERAC

USA

Finance,

LLC

616,000

5.400%, 

5/1/2053

h

569,219

Hawaiian

Brand

Intellectual

Property,

Ltd.

475,000

5.750%, 

1/20/2026

h

427,432

Hertz

Corporation

323,000

4.625%, 

12/1/2026

h

286,259

388,000

5.000%, 

12/1/2029

h

303,774

Mileage

Plus

Holdings,

LLC

1,154,250

6.500%, 

6/20/2027

h

1,143,633

Norfolk

Southern

Corporation

2,152,000

4.450%, 

3/1/2033

1,965,145

Penske

Truck

Leasing

Company,

LP/PTL

Finance

Corporation

930,000

5.750%, 

5/24/2026

h

916,315

Rand

Parent,

LLC

356,000

8.500%, 

2/15/2030

f,h

329,336

Southwest

Airlines

Company

960,000

2.625%, 

2/10/2030

790,932

Union

Pacific

Corporation

1,231,000

2.973%, 

9/16/2062

699,134

United

Airlines,

Inc.

377,000

4.375%, 

4/15/2026

h

348,646

315,000

4.625%, 

4/15/2029

h

270,752

VistaJet

Malta

Finance

plc/Vista

Management

Holding,

Inc.

102,000

7.875%, 

5/1/2027

f,h

87,847

450,000

6.375%, 

2/1/2030

h

347,560

XPO

Escrow

Sub,

LLC

413,000

7.500%, 

11/15/2027

h

417,559

Total

15,545,666

U.S.

Government

&

Agencies

(7.3%)

U.S.

Treasury

Bonds

4,250,000

2.875%, 

5/15/2052

3,013,350

3,559,000

3.625%, 

5/15/2053

2,946,741

9,660,000

1.625%, 

11/15/2050

5,059,802

19,150,000

5.250%, 

11/15/2028

19,663,908

13,650,000

1.625%, 

8/15/2029

11,583,305

2,975,000

4.375%, 

5/15/2040

2,822,299

44,475,000

1.375%, 

11/15/2040

26,321,903

1,340,000

3.000%, 

5/15/2042

1,025,466

5,750,000

3.250%, 

5/15/2042

4,582,031

2,261,000

3.875%, 

2/15/2043

1,967,777

68,726,000

2.500%, 

5/15/2046

46,032,997

46,100,000

2.875%, 

5/15/2049

32,885,867

U.S.

Treasury

Notes

9,620,000

2.500%, 

1/31/2024

9,526,431

25,885,000

2.125%, 

7/31/2024

25,179,229

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

U.S.

Government

&

Agencies

(7.3%)

-

continued

$

28,665,000

2.250%, 

11/15/2024

$

27,690,838

19,170,000

2.125%, 

11/30/2024

18,469,097

46,100,000

3.875%, 

3/31/2025

45,183,402

20,800,000

5.000%, 

8/31/2025

20,757,750

52,575,000

2.625%, 

1/31/2026

49,903,122

2,300,000

0.500%, 

2/28/2026

2,070,719

90,300,000

2.500%, 

2/28/2026

85,382,883

7,285,000

2.250%, 

11/15/2027

6,625,366

13,950,000

3.875%, 

12/31/2027

13,520,057

1,500,000

0.750%, 

1/31/2028

1,271,836

30,100,000

3.500%, 

1/31/2028

28,725,512

15,300,000

3.625%, 

3/31/2028

14,667,680

72,550,000

2.875%, 

5/15/2028

67,233,445

21,000,000

4.375%, 

8/31/2028

20,791,641

3,250,000

1.500%, 

2/15/2030

2,693,945

3,750,000

0.875%, 

11/15/2030

2,917,383

270,000

1.375%, 

11/15/2031

211,634

13,950,000

2.875%, 

5/15/2032

12,244,939

28,750,000

4.125%, 

11/15/2032

27,728,027

Total

640,700,382

Utilities

(0.3%)

AES

Corporation

1,227,000

3.950%, 

7/15/2030

h

1,057,576

Ameren

Illinois

Company

830,000

4.500%, 

3/15/2049

684,041

American

Electric

Power

Company,

Inc.

537,000

5.625%, 

3/1/2033

519,631

Appalachian

Power

Company

750,000

3.300%, 

6/1/2027

687,870

Berkshire

Hathaway

Energy

Company

1,165,000

4.500%, 

2/1/2045

929,957

Calpine

Corporation

370,000

4.500%, 

2/15/2028

h

333,454

CenterPoint

Energy

Resources

Corporation

750,000

1.750%, 

10/1/2030

580,031

CenterPoint

Energy,

Inc.

270,000

4.250%, 

11/1/2028

248,250

Commonwealth

Edison

Company

1,025,000

3.700%, 

3/1/2045

746,496

Consolidated

Edison

Company

of

New

York,

Inc.

579,000

4.500%, 

12/1/2045

460,918

1,250,000

4.125%, 

5/15/2049

927,158

Constellation

Energy

Generation,

LLC

310,000

6.125%, 

1/15/2034

309,506

Consumers

Energy

Company

1,012,000

4.350%, 

4/15/2049

815,568

DTE

Electric

Company

965,000

3.700%, 

3/15/2045

697,149

475,000

3.700%, 

6/1/2046

338,764

Duke

Energy

Carolinas,

LLC

1,090,000

3.700%, 

12/1/2047

777,373

Duke

Energy

Indiana,

LLC

1,550,000

3.750%, 

5/15/2046

1,093,955

Edison

International

725,000

5.750%, 

6/15/2027

718,291

Eversource

Energy

769,000

4.750%, 

5/15/2026

751,722

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

239

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Utilities

(0.3%)

-

continued

Exelon

Corporation

$

585,000

4.700%, 

4/15/2050

$

467,540

983,000

4.450%, 

4/15/2046

766,642

FirstEnergy

Corporation

769,000

5.100%, 

7/15/2047

652,618

Georgia

Power

Company

523,000

4.950%, 

5/17/2033

490,228

ITC

Holdings

Corporation

760,000

5.300%, 

7/1/2043

655,311

Jersey

Central

Power

&

Light

Company

450,000

2.750%, 

3/1/2032

h

352,415

MidAmerican

Energy

Company

306,000

5.850%, 

9/15/2054

301,677

National

Rural

Utilities

Cooperative

Finance

Corporation

381,000

3.700%, 

3/15/2029

347,804

NextEra

Energy

Capital

Holdings,

Inc.

618,000

5.749%, 

9/1/2025

616,265

NextEra

Energy

Operating

Partners,

LP

740,000

3.875%, 

10/15/2026

h

670,008

NiSource

Finance

Corporation

900,000

5.650%, 

2/1/2045

814,212

NRG

Energy,

Inc.

141,000

3.375%, 

2/15/2029

h

114,124

923,000

4.450%, 

6/15/2029

h

800,465

240,000

5.250%, 

6/15/2029

h

211,862

Pacific

Gas

and

Electric

Company

800,000

3.300%, 

12/1/2027

706,832

538,000

4.550%, 

7/1/2030

475,570

PacifiCorp

624,000

5.500%, 

5/15/2054

529,223

PG&E

Corporation

471,000

5.000%, 

7/1/2028

f

426,622

PPL

Electric

Utilities

Corporation

547,000

3.950%, 

6/1/2047

413,980

Public

Service

Company

of

Colorado

923,000

4.500%, 

6/1/2052

720,132

San

Diego

Gas

&

Electric

Company

940,000

4.150%, 

5/15/2048

714,459

Southern

California

Edison

Company

949,000

4.000%, 

4/1/2047

686,185

Southern

Company

1,231,000

5.113%, 

8/1/2027

1,206,338

Southern

Company

Gas

Capital

Corporation

620,000

4.400%, 

5/30/2047

468,945

Southwestern

Electric

Power

Company

620,000

3.900%, 

4/1/2045

430,533

Talen

Energy

Supply,

LLC

329,000

8.625%, 

6/1/2030

h

337,258

TerraForm

Power

Operating,

LLC

750,000

5.000%, 

1/31/2028

h

680,625

Virginia

Electric

and

Power

Company

850,000

4.600%, 

12/1/2048

686,486

Vistra

Operations

Company,

LLC

875,000

5.125%, 

5/13/2025

h

852,619

Principal

Amount

Long-Term

Fixed

Income

(20.5%)

Value

Utilities

(0.3%)

-

continued

$

787,000

5.000%, 

7/31/2027

h

$

723,559

Xcel

Energy,

Inc.

693,000

4.600%, 

6/1/2032

628,864

Total

30,627,111

Total

Long-Term

Fixed

Income

(cost

$2,031,698,127)

1,806,145,360

Shares

Collateral

Held

for

Securities

Loaned

(

0.2%

)

Value

17,942,304

Thrivent

Cash

Management

Trust

17,942,304

Total

Collateral

Held

for

Securities

Loaned

(cost

$17,942,304)

17,942,304

Shares

or

Principal

Amount

Short-Term

Investments

(

11.5%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

800,000

5.265%,

10/4/2023

n,o

799,766

300,000

5.220%,

10/11/2023

n,o

299,606

1,600,000

5.250%,

10/17/2023

n,o

1,596,586

6,200,000

5.270%,

10/25/2023

n,o

6,179,727

1,600,000

5.275%,

11/10/2023

n,o

1,591,131

13,200,000

5.283%,

11/15/2023

n,o

13,117,478

900,000

5.298%,

11/17/2023

n,o

894,119

100,000

5.295%,

11/22/2023

n,o

99,276

9,600,000

5.300%,

12/6/2023

n,o

9,511,227

11,400,000

5.309%,

12/13/2023

n,o

11,283,288

31,900,000

5.315%,

12/15/2023

n,o

31,564,387

Thrivent

Core

Short-Term

Reserve

Fund

93,743,112

5.650%

937,431,118

U.S.

Treasury

Bills

700,000

5.202%,

10/3/2023

n,p

699,898

900,000

5.277%,

11/16/2023

n,p

894,043

Total

Short-Term

Investments

(cost

$1,015,790,814)

1,015,961,650

Total

Investments

(cost

$8,226,981,629)

100.1%

$8,828,718,429

Other

Assets

and

Liabilities,

Net

(0.1%)

(12,254,816)

Total

Net

Assets

100.0%

$8,816,463,613

a

The

stated

interest

rate

represents

the

weighted

average

of

all

contracts

within

the

bank

loan

facility.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

September

29,

2023.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

All

or

a

portion

of

the

loan

is

unfunded.

e

Denotes

investments

purchased

on

a

when-issued

or

delayed-delivery

basis.

f

All

or

a

portion

of

the

security

is

on

loan.

g

Non-income

producing

security.

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

240

h

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$291,896,134

or

3.3%

of

total

net

assets.

i

Denotes

step

coupon

securities.

Step

coupon

securities

pay

an

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

is

as

of

September

29,

2023.

j

Denotes

interest

only

security.  Interest

only

securities

represent

the

right

to

receive

monthly

interest

payments

on

an

underlying

pool

of

mortgages

or

assets.  The

principal

shown

is

the

outstanding

par

amount

of

the

pool

as

of

the

end

of

the

period.

The

actual

effective

yield

of

the

security

is

different

than

the

stated

coupon

rate.

k

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

l

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

m

Defaulted

security.  Interest

is

not

being

accrued.

n

The

interest

rate

shown

reflects

the

yield.

o

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

p

At

September

29,

2023,

$900,952

of

investments

were

segregated

to

cover

exposure

to

a

counterparty

for

margin

on

open

mortgage-backed

security

transactions.

*

Denotes

restricted

securities.

Restricted

securities

are

investment

securities

which

cannot

be

offered

for

public

sale

without

first

being

registered

under

the

Securities

Act

of

1933.

The

value

of

all

restricted

securities

held

in

Moderate

Allocation

Portfolio

as

of

September

29,

2023

was

$646,851

or

0.01%

of

total

net

assets.

The

following

table

indicates

the

acquisition

date

and

cost

of

restricted

securities

shown

in

the

schedule

as

of

September

29,

2023.

Security

Acquisition

Date

Cost

Massachusetts

Mutual

Life

Insurance

Company,

12/1/2061

11/18/2021

$

1,140,996

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Moderate

Allocation

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

8,428,759

Common

Stock

9,038,356

Total

lending

$17,467,115

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$17,942,304

Net

amounts

due

to

counterparty

$475,189

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

CLO

-

Collateralized

Loan

Obligation

ETF

-

Exchange

Traded

Fund

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Reference

Rate

Index:

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

PRIME

-

Federal

Reserve

Prime

Loan

Rate

SOFR30A

-

Secured

Overnight

Financing

Rate

30

Year

Average

SOFRRATE

-

Secured

Overnight

Financing

Rate

TSFR1M

-

CME

Term

SOFR

1

Month

TSFR3M

-

CME

Term

SOFR

3

Month

TSFR6M

-

CME

Term

SOFR

6

Month

USISOA05

-

USD

SOFR

Spread-Adjusted

ICE

Swap

Rate

5

Year

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

241

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Moderate

Allocation

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Bank

Loans

Basic

Materials

3,283,728

–

2,841,258

442,470

Capital

Goods

12,733,208

–

11,276,936

1,456,272

Communications

Services

17,654,770

–

17,654,770

–

Consumer

Cyclical

21,068,899

–

21,068,899

–

Consumer

Non-Cyclical

19,577,153

–

18,696,758

880,395

Energy

2,824,038

–

2,824,038

–

Financials

9,545,390

–

9,545,390

–

Technology

24,700,807

–

24,700,807

–

Transportation

7,100,792

–

7,100,792

–

Utilities

957,337

–

957,337

–

Registered

Investment

Companies

U.S.

Affiliated

2,958,180,471

2,958,180,471

–

–

U.S.

Unaffiliated

53,171,911

53,171,911

–

–

Common

Stock

Communications

Services

186,733,219

186,625,128

108,091

–

Consumer

Discretionary

273,037,598

273,037,598

–

–

Consumer

Staples

101,708,372

101,708,372

–

–

Energy

86,073,951

86,073,951

–

–

Financials

313,876,559

313,876,559

–

–

Health

Care

304,042,297

304,042,297

–

–

Industrials

248,182,897

245,581,983

2,600,914

–

Information

Technology

587,583,129

584,468,388

3,114,741

–

Materials

50,354,776

50,195,360

159,416

–

Real

Estate

74,381,128

74,381,128

–

–

Utilities

37,411,697

37,411,697

–

–

Long-Term

Fixed

Income

Asset-Backed

Securities

64,165,631

–

64,165,631

–

Basic

Materials

15,053,107

–

15,053,107

–

Capital

Goods

35,423,679

–

35,423,679

–

Collateralized

Mortgage

Obligations

81,554,785

–

81,554,785

–

Commercial

Mortgage-Backed

Securities

84,746,292

–

84,746,292

–

Communications

Services

52,963,841

–

52,963,841

–

Consumer

Cyclical

53,345,153

–

53,345,153

–

Consumer

Non-Cyclical

64,458,179

–

64,458,179

–

Energy

46,773,492

–

46,773,492

–

Financials

154,525,162

–

154,525,162

–

Foreign

Government

846,252

–

846,252

–

Mortgage-Backed

Securities

433,224,780

–

433,224,780

–

Technology

32,191,848

–

32,191,848

–

Transportation

15,545,666

–

15,545,666

–

U.S.

Government

&

Agencies

640,700,382

–

640,700,382

–

Utilities

30,627,111

–

30,627,111

–

Short-Term

Investments

78,530,532

–

78,530,532

–

Subtotal

Investments

in

Securities

$7,278,860,019

$5,268,754,843

$2,007,326,039

$2,779,137

Other

Investments  *

Total

Affiliated

Short-Term

Investments

937,431,118

U.S.

Affiliated

Registered

Investment

Cos.

594,484,988

Collateral

Held

for

Securities

Loaned

17,942,304

Subtotal

Other

Investments

$

1,549,858,410

Total

Investments

at

Value

$8,828,718,429

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

242

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

S&P

-

Standard

&

Poor's

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Moderate

Allocation

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

32,131,799

32,131,799

–

–

Total

Asset

Derivatives

$32,131,799

$32,131,799

$–

$–

Liability

Derivatives

Futures

Contracts

69,155,394

69,155,394

–

–

Total

Liability

Derivatives

$69,155,394

$69,155,394

$–

$–

The

following

table

presents

Moderate

Allocation

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$76,936,591

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Amount

Value

and

Unrealized

CBOT

10-Yr.

U.S.

Treasury

Note

722

December

2023

$

79,681,472

(

$

1,660,347)

CBOT

2-Yr.

U.S.

Treasury

Note

1,116

December

2023

227,230,992

(

1,005,583)

CBOT

5-Yr.

U.S.

Treasury

Note

960

December

2023

102,248,371

(

1,103,366)

CBOT

U.S.

Long

Bond

340

December

2023

40,932,056

(

2,246,431)

CME

E-mini

S&P

500

Index

6,502

December

2023

1,462,288,040

(

56,067,990)

CME

Ultra

Long

Term

U.S.

Treasury

Bond

639

December

2023

81,699,013

(

5,857,700)

Ultra

10-Yr.

U.S.

Treasury

Note

342

December

2023

39,368,352

(

1,213,977)

Total

Futures

Long

Contracts

$

2,033,448,296

(

$

69,155,394)

CME

E-mini

Russell

2000

Index

(2,993)

December

2023

(

$

280,856,956)

$

11,696,466

CME

E-mini

S&P

Mid-Cap

400

Index

(1,840)

December

2023

(

479,279,428)

15,525,828

CME

Euro

Foreign

Exchange

Currency

(652)

December

2023

(

87,675,796)

1,183,921

Eurex

Euro

STOXX

50

Index

(1,932)

December

2023

(

86,936,514)

1,392,125

ICE

mini

MSCI

EAFE

Index

(196)

December

2023

(

20,578,526)

571,826

ICE

US

mini

MSCI

Emerging

Markets

Index

(1,465)

December

2023

(

71,752,008)

1,761,633

Total

Futures

Short

Contracts

(

$

1,027,079,228)

$32,131,799

Total

Futures

Contracts

$

1,006,369,068

($37,023,595)

Moderate

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

243

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Moderate

Allocation

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$161,579

$7,446

$4,416

$160,893

21,713

1.8%

Core

Emerging

Markets

Equity

47,642

–

–

48,816

5,867

0.6

Core

Low

Volatility

Equity

267,144

–

154,001

118,153

10,549

1.3

Core

Mid

Cap

Value

–

122,060

–

125,905

12,966

1.4

Core

Small

Cap

Value

142,908

–

–

140,719

15,635

1.6

Global

Stock

426,947

5,870

–

468,200

37,945

5.3

High

Yield

105,010

4,827

1,622

108,944

27,338

1.2

Income

347,483

10,875

7,886

343,343

41,463

3.9

International

Allocation

378,863

7,096

139,000

265,000

30,984

3.0

International

Index

56,839

1,282

–

60,414

5,034

0.7

Large

Cap

Value

896,302

62,522

–

917,260

46,030

10.4

Limited

Maturity

Bond

195,177

4,635

3,630

197,605

21,026

2.3

Mid

Cap

Stock

425,581

23,986

–

445,518

24,714

5.1

Small

Cap

Stock

150,248

21,096

–

151,895

9,522

1.7

Total

U.S.

Affiliated

Registered

Investment

Companies

3,601,723

3,552,665

40.3

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

1,001,825

1,302,557

1,366,951

937,431

93,743

10.6

Total

Affiliated

Short-Term

Investments

1,001,825

937,431

10.6

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

16,490

593,222

591,770

17,942

17,942

0.2

Total

Collateral

Held

for

Securities

Loaned

16,490

17,942

0.2

Total

Value

$4,620,038

$4,508,038

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

($1,388)

($2,328)

$

–

$7,445

Core

Emerging

Markets

Equity

–

1,174

–

–

Core

Low

Volatility

Equity

13,603

(8,593)

–

–

Core

Mid

Cap

Value

Fund

–

3,845

–

–

Core

Small

Cap

Value

Fund

–

(2,189)

–

–

Global

Stock

–

35,383

–

5,870

High

Yield

(318)

1,047

–

4,826

Income

(1,365)

(5,764)

–

10,871

International

Allocation

(2,442)

20,483

–

7,097

International

Index

–

2,293

–

1,282

Large

Cap

Value

–

(41,564)

46,528

15,994

Limited

Maturity

Bond

(163)

1,586

–

4,635

Mid

Cap

Stock

–

(4,049)

22,092

1,895

Small

Cap

Stock

–

(19,449)

20,140

957

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

–

–

–

38,497

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$99,369

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

152

Total

Affiliated

Income

from

Securities

Loaned,

Net

$152

Total

Value

$7,927

($18,125

)

$

88,760

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

244

Principal

Amount

Bank

Loans

(

0.6%

)

a

Value

Basic

Materials

(<0.1%)

Grinding

Media,

Inc.,

Term

Loan

$

152,444

9.530%, 

(TSFR1M

+

4.000%),

10/12/2028

b,c

$

150,920

INEOS

US

Petrochem,

LLC,

Term

Loan

405,056

8.181%, 

(TSFR1M

+

2.750%),

1/29/2026

b

402,828

Lummus

Technology

Holdings

V,

LLC,

Term

Loan

139,297

8.931%, 

(TSFR1M

+

3.500%),

6/30/2027

b

138,821

Nouryon

USA,

LLC,

Term

Loan

325,261

8.427%, 

(TSFR3M

+

3.000%),

10/1/2025

b

324,717

Spectrum

Group

Buyer,

Inc.,

Term

Loan

137,280

11.953%, 

(TSFR1M

+

6.500%),

5/19/2028

b

131,892

Total

1,149,178

Capital

Goods

(0.1%)

Ali

Group

North

America

Corporation,

Term

Loan

201,435

7.431%, 

(TSFR1M

+

2.000%),

7/22/2029

b

201,155

Brookfield

WEC

Holdings,

Inc.,

Term

Loan

330,601

8.181%, 

(TSFR1M

+

2.750%),

8/1/2025

b

330,217

BW

Holding,

Inc.,

Term

Loan

143,739

9.573%, 

(TSFR1M

+

4.000%),

12/14/2028

b

128,698

Chart

Industries,

Inc.,

Term

Loan

123,689

9.174%, 

(TSFR1M

+

3.750%),

3/17/2030

b,c

123,689

Charter

Next

Generation,

Inc.,

Term

Loan

251,458

9.181%, 

(TSFR1M

+

3.750%),

12/1/2027

b

248,944

Clydesdale

Acquisition

Holdings,

Inc.,

Term

Loan

383,120

9.591%, 

(TSFR1M

+

4.175%),

4/13/2029

b

377,485

Cornerstone

Building

Brands,

Inc.,

Term

Loan

358,442

8.682%, 

(TSFR1M

+

3.250%),

4/12/2028

b

348,811

Emerald

Debt

Merger

Sub,

LLC,

Term

Loan

276,489

8.316%, 

(TSFR1M

+

3.000%),

5/31/2030

b

275,972

EnergySolutions,

LLC,

Term

Loan

98,522

0.000%, 

(TSFR1M

+

4.000%),

9/18/2030

b,c,d,e

97,783

Foley

Products

Company,

LLC,

Term

Loan

123,332

10.290%, 

(SOFRRATE

+

4.750%),

2/16/2029

b

122,689

Proampac

PG

Borrower,

LLC,

Term

Loan

198,676

0.000%, 

(TSFR1M

+

4.500%),

9/26/2028

b,d,e

197,385

Principal

Amount

Bank

Loans

(0.6%)

a

Value

Capital

Goods

(0.1%)

-

continued

Quikrete

Holdings,

Inc.,

Term

Loan

$

75,219

8.056%, 

(TSFR1M

+

2.625%),

1/31/2027

b

$

75,030

364,450

8.181%, 

(TSFR1M

+

2.750%),

3/18/2029

b

364,242

Smyrna

Ready

Mix

Concrete,

LLC,

Term

Loan

262,808

9.666%, 

(TSFR1M

+

4.250%),

4/1/2029

b,c

263,137

TK

Elevator

U.S.

Newco,

Inc.,

Term

Loan

226,719

9.381%, 

(TSFR6M

+

3.500%),

7/31/2027

b

226,038

TransDigm,

Inc.,

Term

Loan

565,160

8.640%, 

(TSFR1M

+

3.250%),

8/24/2028

b

565,070

Vertiv

Group

Corporation,

Term

Loan

221,720

8.192%, 

(TSFR1M

+

2.750%),

3/2/2027

b

221,246

Total

4,167,591

Communications

Services

(0.1%)

Altice

France

SA/France,

Term

Loan

463,624

10.808%, 

(TSFR1M

+

5.500%),

8/31/2028

b

418,537

CCI

Buyer,

Inc.,

Term

Loan

178,173

9.390%, 

(TSFR3M

+

4.000%),

12/17/2027

b

175,612

Cengage

Learning,

Inc.,

Term

Loan

148,089

10.323%, 

(TSFR3M

+

4.750%),

7/14/2026

b

147,200

Charter

Communications

Operating,

LLC,

Term

Loan

557,196

7.116%, 

(TSFR3M

+

1.750%),

2/1/2027

b

556,293

Clear

Channel

Outdoor

Holdings,

Inc.,

Term

Loan

414,768

9.130%, 

(TSFR3M

+

3.500%),

8/23/2026

b

402,151

CMG

Media

Corporation,

Term

Loan

260,000

0.000%, 

(LIBOR

3M

+

3.500%),

12/17/2026

b,d,e

237,250

Crown

Subsea

Communications

Holding,

Inc.,

Term

Loan

136,400

10.444%, 

(TSFR1M

+

5.000%),

4/27/2027

b

136,628

177,310

10.694%, 

(TSFR1M

+

5.250%),

4/27/2027

b

177,754

CSC

Holdings,

LLC,

Term

Loan

200,380

7.947%, 

(LIBOR

1M

+

2.500%),

4/15/2027

b

181,010

DIRECTV

Financing,

LLC,

Term

Loan

503,534

10.431%, 

(TSFR1M

+

5.000%),

8/2/2027

b

491,505

Intelsat

Jackson

Holdings

SA,

Term

Loan

260,178

9.772%, 

(TSFR6M

+

4.250%),

2/1/2029

b

259,351

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

245

Principal

Amount

Bank

Loans

(0.6%)

a

Value

Communications

Services

(0.1%)

-

continued

Level

3

Financing,

Inc.,

Term

Loan

$

233,000

7.181%, 

(TSFR1M

+

1.750%),

3/1/2027

b

$

219,661

Lumen

Technologies,

Inc.,

Term

Loan

285,781

7.681%, 

(TSFR1M

+

2.250%),

3/15/2027

b

202,987

McGraw-Hill

Education,

Inc.,

Term

Loan

256,000

10.181%, 

(LIBOR

1M

+

4.750%),

7/30/2028

b,d,e

250,506

MH

Sub

I,

LLC,

Term

Loan

329,288

9.566%, 

(TSFR1M

+

4.250%),

5/3/2028

b

318,122

NEP

Group,

Inc.,

Term

Loan

148,046

8.681%, 

(TSFR1M

+

3.250%),

10/20/2025

b

142,772

Playtika

Holding

Corporation,

Term

Loan

178,173

8.181%, 

(TSFR1M

+

2.750%),

3/11/2028

b

177,839

Radiate

Holdco,

LLC,

Term

Loan

289,810

8.681%, 

(TSFR1M

+

3.250%),

9/25/2026

b

236,363

RLG

Holdings,

LLC,

Term

Loan

143,737

9.681%, 

(TSFR1M

+

4.250%),

7/8/2028

b

134,753

SBA

Senior

Finance

II,

LLC,

Term

Loan

186,176

7.170%, 

(TSFR1M

+

1.750%),

4/11/2025

b,d,e

185,985

UPC

Financing

Partnership,

Term

Loan

136,000

8.372%, 

(TSFR1M

+

2.925%),

1/31/2029

b

133,790

Virgin

Media

Bristol,

LLC,

Term

Loan

339,000

7.947%, 

(TSFR1M

+

2.500%),

1/31/2028

b

328,874

Zayo

Group

Holdings,

Inc.,

Term

Loan

287,000

8.431%, 

(TSFR1M

+

3.000%),

3/9/2027

b

233,707

Ziggo

Financing

Partnership,

Term

Loan

229,000

7.947%, 

(TSFR1M

+

2.500%),

4/30/2028

b

223,465

Total

5,972,115

Consumer

Cyclical

(0.1%)

1011778

B.C.,

ULC,

Term

Loan

554,689

7.566%, 

(TSFR1M

+

2.250%),

9/21/2030

b

552,265

AlixPartners,

LLP,

Term

Loan

156,396

8.181%, 

(TSFR1M

+

2.750%),

2/4/2028

b

156,161

Allied

Universal

Holdco,

LLC,

Term

Loan

553,354

9.166%, 

(TSFR1M

+

3.750%),

5/14/2028

b

533,671

Alterra

Mountain

Company,

Term

Loan

174,222

8.931%, 

(TSFR1M

+

3.500%),

8/17/2028

b

173,642

Principal

Amount

Bank

Loans

(0.6%)

a

Value

Consumer

Cyclical

(0.1%)

-

continued

Arches

Buyer,

Inc.,

Term

Loan

$

96,010

8.666%, 

(TSFR1M

+

3.250%),

12/6/2027

b

$

93,850

Caesars

Entertainment,

Inc.,

Term

Loan

340,290

8.666%, 

(TSFR1M

+

3.250%),

2/6/2030

b

340,079

Carnival

Corporation,

Term

Loan

199,441

8.327%, 

(TSFR1M

+

3.000%),

8/8/2027

b

198,693

142,549

8.681%, 

(TSFR1M

+

3.250%),

10/18/2028

b

141,658

Cinemark

USA,

Inc.,

Term

Loan

141,386

9.089%, 

(TSFR1M

+

3.750%),

5/24/2030

b

141,062

Clarios

Global,

LP,

Term

Loan

297,101

9.066%, 

(TSFR1M

+

3.750%),

5/4/2030

b

296,174

Delta

2

Lux

SARL,

Term

Loan

330,000

8.316%, 

(TSFR1M

+

3.000%),

1/15/2030

b

329,670

Fertitta

Entertainment,

LLC/NV,

Term

Loan

134,633

9.316%, 

(TSFR1M

+

4.000%),

1/27/2029

b

133,119

First

Brands

Group,

LLC,

Term

Loan

174,656

10.881%, 

(TSFR6M

+

5.000%),

3/30/2027

b

172,037

GoDaddy

Operating

Company,

LLC,

Term

Loan

218,353

7.816%, 

(TSFR1M

+

2.500%),

11/10/2029

b

218,421

Great

Outdoors

Group,

LLC,

Term

Loan

308,848

9.181%, 

(TSFR1M

+

3.750%),

3/5/2028

b

307,802

Harbor

Freight

Tools

USA,

Inc.,

Term

Loan

274,880

8.181%, 

(TSFR1M

+

2.750%),

10/19/2027

b

272,505

IRB

Holding

Corporation,

Term

Loan

318,574

8.416%, 

(TSFR1M

+

3.000%),

12/15/2027

b

317,102

Light

&

Wonder

International,

Inc.,

Term

Loan

335,602

8.434%, 

(TSFR1M

+

3.000%),

4/14/2029

b

335,182

PetSmart,

LLC,

Term

Loan

436,658

9.166%, 

(TSFR1M

+

3.750%),

2/12/2028

b

434,864

Pilot

Travel

Centers,

LLC,

Term

Loan

373,227

7.416%, 

(TSFR1M

+

2.000%),

8/6/2028

b

372,559

Prime

Security

Services

Borrower,

LLC,

Term

Loan

444,442

8.192%, 

(TSFR1M

+

2.750%),

9/23/2026

b

443,637

Scientific

Games

Holdings,

LP,

Term

Loan

226,710

8.768%, 

(TSFR1M

+

3.500%),

4/4/2029

b

225,198

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

246

Principal

Amount

Bank

Loans

(0.6%)

a

Value

Consumer

Cyclical

(0.1%)

-

continued

Staples,

Inc.,

Term

Loan

$

218,291

10.634%, 

(LIBOR

3M

+

5.000%),

4/12/2026

b

$

186,839

Stars

Group

Holdings

BV,

Term

Loan

130,667

7.902%, 

(TSFR3M

+

2.250%),

7/21/2026

b

130,490

UFC

Holdings,

LLC,

Term

Loan

217,560

8.369%, 

(TSFR3M

+

2.750%),

4/29/2026

b

217,214

Total

6,723,894

Consumer

Non-Cyclical

(0.1%)

AI

Aqua

Merger

Sub,

Inc.,

Term

Loan

372,164

9.084%, 

(TSFR1M

+

3.750%),

7/30/2028

b

368,037

Alltech,

Inc.,

Term

Loan

135,026

9.431%, 

(TSFR1M

+

4.000%),

10/15/2028

b

130,131

Amneal

Pharmaceuticals,

LLC,

Term

Loan

299,206

8.931%, 

(TSFR1M

+

3.500%),

5/4/2025

b

293,222

Bausch

+

Lomb

Corporation,

Term

Loan

348,471

8.755%, 

(TSFR1M

+

3.250%),

5/10/2027

b

338,212

121,534

0.000%, 

(TSFR1M

+

4.000%),

9/14/2028

b,c,d,e

119,863

Chobani,

LLC,

Term

Loan

139,363

8.931%, 

(TSFR1M

+

3.500%),

10/23/2027

b

139,232

DaVita,

Inc.,

Term

Loan

111,440

7.181%, 

(TSFR1M

+

1.750%),

8/12/2026

b

109,978

Elanco

Animal

Health,

Inc.,

Term

Loan

175,764

7.180%, 

(TSFR1M

+

1.750%),

8/1/2027

b

172,224

Froneri

U.S.,

Inc.,

Term

Loan

339,491

7.666%, 

(TSFR3M

+

2.250%),

1/31/2027

b

336,673

Gainwell

Acquisition

Corporation,

Term

Loan

475,136

9.490%, 

(TSFR3M

+

4.000%),

10/1/2027

b

462,811

ICON

Luxembourg

SARL,

Term

Loan

353,055

7.902%, 

(TSFR3M

+

2.250%),

7/1/2028

b

352,773

Jazz

Financing

Lux

SARL,

Term

Loan

439,015

8.931%, 

(TSFR1M

+

3.500%),

5/5/2028

b

438,589

LifePoint

Health,

Inc.,

Term

Loan

164,172

0.000%, 

(TSFR1M

+

5.500%),

11/16/2028

b,c,d,e

159,247

438,882

9.377%, 

(TSFR3M

+

3.750%),

11/16/2025

b,d,e

437,420

Medline

Borrower,

LP,

Term

Loan

805,819

8.681%, 

(TSFR1M

+

3.250%),

10/21/2028

b

803,160

Principal

Amount

Bank

Loans

(0.6%)

a

Value

Consumer

Non-Cyclical

(0.1%)

-

continued

Organon

&

Company,

Term

Loan

$

404,251

8.442%, 

(TSFR1M

+

3.000%),

6/2/2028

b

$

403,038

Packaging

Coordinators

Midco,

Inc.,

Term

Loan

131,985

9.152%, 

(TSFR3M

+

3.500%),

11/30/2027

b

131,284

Phoenix

Newco,

Inc.,

Term

Loan

294,506

8.681%, 

(TSFR1M

+

3.250%),

11/15/2028

b

292,164

PRA

Health

Sciences,

Inc.,

Term

Loan

87,964

7.902%, 

(TSFR3M

+

2.250%),

7/1/2028

b

87,894

Reynolds

Consumer

Products,

LLC,

Term

Loan

252,963

7.166%, 

(TSFR1M

+

1.750%),

2/4/2027

b

252,533

Select

Medical

Corporation,

Term

Loan

223,440

8.316%, 

(TSFR1M

+

3.000%),

3/6/2027

b

222,602

Sotera

Health

Holdings,

LLC,

Term

Loan

268,000

8.181%, 

(TSFR1M

+

2.750%),

12/11/2026

b

265,253

Star

Parent,

Inc.,

Term

Loan

304,000

0.000%, 

(TSFR1M

+

4.000%),

9/28/2030

b,d,e

296,865

Total

6,613,205

Energy

(<0.1%)

Buckeye

Partners,

LP,

Term

Loan

221,720

7.666%, 

(TSFR1M

+

2.250%),

11/1/2026

b

221,388

CQP

Holdco,

LP,

Term

Loan

444,453

8.990%, 

(TSFR1M

+

3.500%),

6/4/2028

b

444,350

GIP

II

Blue

Holding,

LP,

Term

Loan

77,021

9.931%, 

(TSFR3M

+

4.500%),

9/29/2028

b

77,118

GIP

III

Stetson

I,

LP,

Term

Loan

118,554

9.666%, 

(TSFR1M

+

4.250%),

7/18/2025

b

118,431

Oryx

Midstream

Services

Permian

Basin,

LLC,

Term

Loan

102,206

8.692%, 

(TSFR3M

+

3.250%),

10/5/2028

b

102,046

Total

963,333

Financials

(0.1%)

Acrisure,

LLC,

Term

Loan

208,836

8.931%, 

(LIBOR

1M

+

3.500%),

2/15/2027

b

205,628

Alliant

Holdings

Intermediate,

LLC,

Term

Loan

87,112

8.831%, 

(TSFR1M

+

3.500%),

11/6/2027

b

86,921

AmWINS

Group,

Inc.,

Term

Loan

335,552

7.681%, 

(TSFR1M

+

2.250%),

2/19/2028

b

333,226

Asurion,

LLC,

Term

Loan

216,152

8.681%, 

(LIBOR

3M

+

3.250%),

12/23/2026

b

211,289

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

247

Principal

Amount

Bank

Loans

(0.6%)

a

Value

Financials

(0.1%)

-

continued

$

219,375

8.681%, 

(TSFR3M

+

3.250%),

7/31/2027

b

$

211,697

29,463

9.666%, 

(TSFR1M

+

4.250%),

8/19/2028

b

28,579

Edelman

Financial

Engines

Center,

LLC,

Term

Loan

91,068

8.931%, 

(TSFR1M

+

3.500%),

4/7/2028

b

89,998

First

Eagle

Holdings,

Inc.,

Term

Loan

91,028

7.990%, 

(TSFR3M

+

2.500%),

2/2/2027

b

90,151

FleetCor

Technologies

Operating

Company,

LLC,

Term  Loan

178,179

7.166%, 

(TSFR1M

+

1.750%),

4/30/2028

b

177,409

Focus

Financial

Partners,

LLC,

Term

Loan

149,865

8.566%, 

(TSFR1M

+

3.250%),

6/30/2028

b

149,345

Howden

Group

Holdings,

Ltd.,

Term

Loan

91,064

8.688%, 

(LIBOR

1M

+

3.250%),

11/12/2027

b

90,677

HUB

International,

Ltd.,

Term

Loan

277,436

9.584%, 

(TSFR1M

+

4.250%),

6/20/2030

b

277,899

Hudson

River

Trading,

LLC,

Term

Loan

96,015

8.631%, 

(TSFR1M

+

3.000%),

3/18/2028

b

95,312

Jane

Street

Group,

LLC,

Term

Loan

178,168

8.181%, 

(TSFR1M

+

2.750%),

1/26/2028

b

177,500

Sedgwick

Claims

Management

Services,

Inc.,

Term

Loan

146,265

9.066%, 

(TSFR1M

+

3.750%),

2/24/2028

b

145,882

Trans

Union,

LLC,

Term

Loan

277,101

7.681%, 

(TSFR1M

+

2.250%),

12/1/2028

b

276,721

USI,

Inc./NY,

Term

Loan

330,660

9.140%, 

(TSFR1M

+

3.750%),

11/22/2029

b

330,154

VFH

Parent,

LLC,

Term

Loan

134,640

8.418%, 

(TSFR1M

+

3.000%),

1/13/2029

b

133,434

Total

3,111,822

Technology

(0.1%)

Amentum

Government

Services

Holdings,

LLC,

Term  Loan

221,754

9.331%, 

(TSFR1M

+

4.000%),

2/15/2029

b

218,291

AthenaHealth

Group,

Inc.,

Term

Loan

429,310

8.568%, 

(PRIME

+

3.250%),

2/15/2029

b

420,591

Boxer

Parent

Company,

Inc.,

Term

Loan

338,995

9.181%, 

(TSFR1M

+

3.750%),

10/2/2025

b

338,480

Principal

Amount

Bank

Loans

(0.6%)

a

Value

Technology

(0.1%)

-

continued

Central

Parent,

Inc.,

Term

Loan

$

397,000

9.640%, 

(TSFR3M

+

4.250%),

7/6/2029

b

$

396,786

Cloud

Software

Group,

Inc.,

Term

Loan

240,790

9.990%, 

(TSFR3M

+

4.500%),

3/30/2029

b

231,209

Coherent

Corporation,

Term

Loan

204,770

8.181%, 

(TSFR3M

+

2.750%),

7/1/2029

b

203,875

CommScope,

Inc.,

Term

Loan

130,520

8.681%, 

(TSFR1M

+

3.250%),

4/4/2026

b

118,839

CoreLogic,

Inc.,

Term

Loan

174,663

8.931%, 

(TSFR1M

+

3.500%),

6/2/2028

b

161,054

Cornerstone

OnDemand,

Inc.,

Term

Loan

243,528

9.181%, 

(TSFR1M

+

3.750%),

10/15/2028

b

231,047

Dcert

Buyer,

Inc.,

Term

Loan

270,200

9.316%, 

(TSFR6M

+

4.000%),

10/16/2026

b

268,144

Dun

&

Bradstreet

Corporation,

Term

Loan

265,196

8.167%, 

(TSFR1M

+

2.750%),

2/8/2026

b

264,615

Entegris,

Inc.,

Term

Loan

189,118

7.871%, 

(TSFR3M

+

2.500%),

7/6/2029

b

189,059

Gen

Digital,

Inc.,

Term

Loan

256,389

7.416%, 

(TSFR1M

+

2.000%),

9/12/2029

b

255,363

Genesys

Cloud

Services

Holdings

II,

LLC,

Term

Loan

222,290

9.431%, 

(TSFR1M

+

4.000%),

12/1/2027

b

222,290

GTCR

W

Merger

Sub,

LLC,

Term

Loan

416,000

0.000%, 

(TSFR1M

+

3.000%),

9/20/2030

b,d,e

415,696

Informatica,

LLC,

Term

Loan

221,749

8.181%, 

(TSFR1M

+

2.750%),

10/29/2028

b

220,780

Magenta

Buyer,

LLC,

Term

Loan

240,167

10.631%, 

(TSFR3M

+

5.000%),

7/27/2028

b

177,990

McAfee

Corporation,

Term

Loan

457,368

9.180%, 

(TSFR1M

+

3.750%),

3/1/2029

b

446,076

Mitchell

International,

Inc.,

Term

Loan

279,166

9.181%, 

(TSFR1M

+

3.750%),

10/15/2028

b

274,199

MKS

Instruments,

Inc.,

Term

Loan

400,950

8.166%, 

(TSFR1M

+

2.750%),

8/17/2029

b

400,304

Open

Text

Corporation,

Term

Loan

344,398

8.166%, 

(TSFR1M

+

2.750%),

1/31/2030

b

344,243

Peraton

Corporation,

Term

Loan

690,361

9.166%, 

(TSFR1M

+

3.750%),

2/1/2028

b

688,207

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

248

Principal

Amount

Bank

Loans

(0.6%)

a

Value

Technology

(0.1%)

-

continued

Polaris

Newco,

LLC,

Term

Loan

$

400,909

9.431%, 

(TSFR3M

+

4.000%),

6/4/2028

b

$

383,297

Proofpoint,

Inc.,

Term

Loan

295,987

8.681%, 

(TSFR1M

+

3.250%),

8/31/2028

b

293,232

RealPage,

Inc.,

Term

Loan

226,687

8.431%, 

(TSFR1M

+

3.000%),

4/22/2028

b

223,853

Tempo

Acquisition,

LLC,

Term

Loan

217,792

8.316%, 

(TSFR1M

+

2.750%),

8/31/2028

b

217,792

UKG,

Inc.,

Term

Loan

475,164

8.618%, 

(TSFR3M

+

3.250%),

5/3/2026

b

473,434

Verscend

Holding

Corporation,

Term

Loan

327,136

9.431%, 

(TSFR1M

+

4.000%),

8/27/2025

b

326,786

Total

8,405,532

Transportation

(<0.1%)

AAdvantage

Loyalty

IP,

Ltd.,

Term

Loan

514,140

10.338%, 

(TSFR3M

+

4.750%),

4/20/2028

b

529,050

Air

Canada,

Term

Loan

422,192

9.128%, 

(TSFR3M

+

3.500%),

8/11/2028

b

422,103

Brown

Group

Holding,

LLC,

Term

Loan

178,053

8.166%, 

(TSFR1M

+

2.750%),

6/7/2028

b

176,235

Genesee

&

Wyoming,

Inc.,

Term

Loan

221,703

7.490%, 

(TSFR3M

+

2.000%),

12/30/2026

b

221,217

Mileage

Plus

Holdings,

LLC,

Term

Loan

251,250

10.798%, 

(TSFR3M

+

5.250%),

6/20/2027

b

260,700

SkyMiles

IP,

Ltd.,

Term

Loan

403,750

9.076%, 

(TSFR3M

+

3.750%),

10/20/2027

b

417,732

United

Airlines,

Inc.,

Term

Loan

255,535

9.182%, 

(TSFR3M

+

3.750%),

4/21/2028

b

255,594

Total

2,282,631

Utilities

(<0.1%)

PG&E

Corporation,

Term

Loan

327,019

8.431%, 

(TSFR1M

+

3.000%),

6/23/2025

b

326,794

Total

326,794

Total

Bank

Loans

(cost

$39,648,316)

39,716,095

Shares

Registered

Investment

Companies

(

49.1%

)

Value

U.S.

Affiliated  (48.5%)

7,363,072

Thrivent

Core

Emerging

Markets

Debt

Fund

54,560,366

Shares

Registered

Investment

Companies

(49.1%)

Value

U.S.

Affiliated  (48.5%)-

continued

12,999,984

Thrivent

Core

Emerging

Markets

Equity

Fund

$

108,159,868

6,413,601

Thrivent

Core

International

Equity

Fund

60,480,262

9,835,893

Thrivent

Core

Low

Volatility

Equity

Fund

110,161,997

10,621,993

Thrivent

Core

Mid

Cap

Value

Fund

103,139,552

10,966,786

Thrivent

Core

Small

Cap

Value

Fund

98,701,075

40,949,319

Thrivent

Global

Stock

Portfolio

505,269,557

8,891,825

Thrivent

High

Yield

Portfolio

35,433,921

13,134,429

Thrivent

Income

Portfolio

108,763,582

51,894,898

Thrivent

International

Allocation

Portfolio

443,846,686

3,580,023

Thrivent

International

Index

Portfolio

42,961,346

33,083,683

Thrivent

Large

Cap

Value

Portfolio

659,275,094

7,133,249

Thrivent

Limited

Maturity

Bond

Portfolio

67,040,411

26,195,877

Thrivent

Mid

Cap

Stock

Portfolio

472,235,703

9,778,341

Thrivent

Small

Cap

Stock

Portfolio

155,988,989

Total

3,026,018,409

U.S.

Unaffiliated  (0.6%)

25,011

Communication

Services

Select

Sector

SPDR

Fund

1,639,971

6,629

Invesco

QQQ

Trust

Series

1

f

2,374,972

7,314

iShares

Biotechnology

ETF

894,429

5,509

SPDR

Bloomberg

High

Yield

Bond

ETF

f

498,014

65,678

SPDR

S&P

500

ETF

Trust

28,076,032

59,154

SPDR

S&P

Biotech

ETF

4,319,425

3,840

SPDR

S&P

Oil

&

Gas

Exploration

ETF

567,974

Total

38,370,817

Total

Registered

Investment

Companies

(cost

$2,786,157,949)

3,064,389,226

Shares

Common

Stock

(

28.7%

)

Value

Communications

Services

(2.2%)

64,445

Alphabet,

Inc.,

Class

A

g

8,433,273

396,949

Alphabet,

Inc.,

Class

C

g

52,337,726

44,910

Altice

USA,

Inc.

g

146,856

23,326

AMC

Networks,

Inc.

g

274,780

9,309

Bumble,

Inc.

g

138,890

82

Cable

One,

Inc.

50,482

150,414

Cargurus,

Inc.

g

2,635,253

154,580

Comcast

Corporation

6,854,077

9,009

DISH

Network

Corporation

g

52,793

830

Electronic

Arts,

Inc.

99,932

22,101

Emerald

Holding,

Inc.

g

99,897

8,996

Entravision

Communications

Corporation

32,835

24,747

Frontier

Communications

Parent,

Inc.

g

387,291

56,623

iHeartMedia,

Inc.

g

178,929

15,015

Imax

Corporation

g

290,090

39,837

Integral

Ad

Science

Holding

Corporation

g

473,662

7,390

Interpublic

Group

of

Companies,

Inc.

211,797

36,009

Liberty

Global

plc,

Class

A

g

616,474

75,315

Liberty

Global

plc,

Class

C

g

1,397,846

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

249

Shares

Common

Stock

(28.7%)

Value

Communications

Services

(2.2%)

-

continued

25,186

Liberty

Latin

America,

Ltd.,

Class

A

g

$

205,518

5,619

Live

Nation

Entertainment,

Inc.

g

466,602

304,087

Lumen

Technologies,

Inc.

g

431,804

4,197

Match

Group,

Inc.

g

164,417

95,825

Meta

Platforms,

Inc.

g

28,767,623

20,102

Netflix,

Inc.

g

7,590,515

1,375

Omnicom

Group,

Inc.

102,410

316,604

QuinStreet,

Inc.

g

2,839,938

1,439

Shutterstock,

Inc.

54,754

10,418

Sinclair,

Inc.

116,890

7,767

TechTarget,

Inc.

g

235,806

17,931

Telephone

and

Data

Systems,

Inc.

328,317

33,087

Trade

Desk,

Inc.

g

2,585,749

4,293

Tripadvisor,

Inc.

g

71,178

243,610

Verizon

Communications,

Inc.

7,895,400

48,103

Walt

Disney

Company

g

3,898,748

59,642

Warner

Brothers

Discovery,

Inc.

g

647,712

5,129

Windstream

Services,

LLC

g

48,725

623

Yelp,

Inc.

g

25,911

82,397

Ziff

Davis,

Inc.

g

5,247,865

Total

136,438,765

Consumer

Discretionary

(3.5%)

18,156

2U,

Inc.

g

44,845

473

Adient

plc

g

17,359

417,969

Amazon.com,

Inc.

g

53,132,219

3,460

American

Axle

&

Manufacturing

Holdings,

Inc.

g

25,120

46,936

American

Eagle

Outfitters,

Inc.

779,607

64,379

Aptiv

plc

g

6,347,126

19,889

Autoliv,

Inc.

1,918,891

150

AutoNation,

Inc.

g

22,710

5,255

Beazer

Homes

USA,

Inc.

g

130,902

2,938

Best

Buy

Company,

Inc.

204,103

1,563

Booking

Holdings,

Inc.

g

4,820,214

37,811

Boot

Barn

Holdings,

Inc.

g

3,069,875

4,143

Brunswick

Corporation

327,297

11,276

Buckle,

Inc.

376,506

26,275

Cedar

Fair,

LP

972,175

363

Cheesecake

Factory,

Inc.

10,999

2,318

Chegg,

Inc.

g

20,677

2,047

Chipotle

Mexican

Grill,

Inc.

g

3,749,756

290,104

Clarus

Corporation

2,193,186

39,413

Columbia

Sportswear

Company

2,920,503

15,920

Container

Store

Group,

Inc.

g

35,820

65,771

Cooper-Standard

Holdings,

Inc.

g

882,647

1,256

Crocs,

Inc.

g

110,817

6,099

Culp,

Inc.

g

34,032

6,000

D.R.

Horton,

Inc.

644,820

45,241

Dana,

Inc.

663,685

3,858

Darden

Restaurants,

Inc.

552,543

5,051

Deckers

Outdoor

Corporation

g

2,596,669

19,189

Domino's

Pizza,

Inc.

7,268,601

1,510

Dorman

Products,

Inc.

g

114,398

8,102

eBay,

Inc.

357,217

6,220

Etsy,

Inc.

g

401,688

349,493

Everi

Holdings,

Inc.

g

4,620,297

1,959

Expedia

Group,

Inc.

g

201,914

34,910

Five

Below,

Inc.

g

5,617,019

6,511

Ford

Motor

Company

80,867

41,438

Fox

Factory

Holding

Corporation

g

4,105,677

41,493

Gap,

Inc.

441,071

75,100

General

Motors

Company

2,476,047

25,726

Gentex

Corporation

837,124

Shares

Common

Stock

(28.7%)

Value

Consumer

Discretionary

(3.5%)

-

continued

26,702

Goodyear

Tire

&

Rubber

Company

g

$

331,906

5,831

Grand

Canyon

Education,

Inc.

g

681,527

8,437

Green

Brick

Partners,

Inc.

g

350,220

30,034

Harley-Davidson,

Inc.

992,924

25,830

Hilton

Worldwide

Holdings,

Inc.

3,879,149

67,451

Home

Depot,

Inc.

20,380,994

747

Hyatt

Hotels

Corporation

79,242

3,060

KB

Home

141,617

47,290

Laureate

Education,

Inc.

666,789

6,638

La-Z-Boy,

Inc.

204,981

10,723

Lear

Corporation

1,439,027

2,425

Lennar

Corporation

272,158

6,497

Lowe's

Companies,

Inc.

1,350,336

5,895

Lululemon

Athletica,

Inc.

g

2,273,171

4,358

M/I

Homes,

Inc.

g

366,246

467

Malibu

Boats,

Inc.

g

22,892

2,244

Marriott

International,

Inc./MD

441,081

337

Marriott

Vacations

Worldwide

Corporation

33,912

15,195

McDonald's

Corporation

4,002,971

18,534

Meritage

Homes

Corporation

2,268,376

10,401

MGM

Resorts

International

382,341

1,376

Modine

Manufacturing

Company

g

62,952

16,880

Mohawk

Industries,

Inc.

g

1,448,473

36,064

Nordstrom,

Inc.

f

538,796

472

NVR,

Inc.

g

2,814,678

4,534

ODP

Corporation

g

209,244

9,264

O'Reilly

Automotive,

Inc.

g

8,419,679

51,773

Papa

John's

International,

Inc.

3,531,954

5,637

PENN

Entertainment,

Inc.

g

129,369

11,764

Playa

Hotels

and

Resorts

NV

g

85,171

10,034

Polaris,

Inc.

1,044,941

6,892

Pool

Corporation

2,454,241

3,188

PulteGroup,

Inc.

236,071

128,020

Qurate

Retail,

Inc.

g

77,657

7,166

Ross

Stores,

Inc.

809,400

19,045

SeaWorld

Entertainment,

Inc.

g

880,831

3,940

Six

Flags

Entertainment

Corporation

g

92,629

34,778

Skyline

Champion

Corporation

g

2,216,054

36,267

Sonos,

Inc.

g

468,207

9,611

Sony

Group

Corporation

ADR

792,043

177,810

Stoneridge,

Inc.

g

3,568,647

1,607

Taylor

Morrison

Home

Corporation

g

68,474

94,019

Tesla,

Inc.

g

23,525,434

305,350

ThredUp,

Inc.

g

1,224,453

1,139

TopBuild

Corporation

g

286,572

29,634

Travel

+

Leisure

Company

1,088,457

20

Ulta

Beauty,

Inc.

g

7,989

14,802

Upbound

Group,

Inc.

435,919

14,738

Urban

Outfitters,

Inc.

g

481,785

239

Vail

Resorts,

Inc.

53,032

594

Visteon

Corporation

g

82,014

20,916

Wendy's

Company

426,896

12,344

Wingstop,

Inc.

2,219,945

25,859

Wyndham

Hotels

&

Resorts,

Inc.

1,798,235

Total

215,269,125

Consumer

Staples

(1.3%)

64,836

Altria

Group,

Inc.

2,726,354

11,040

Archer-Daniels-Midland

Company

832,637

79,810

BJ's

Wholesale

Club

Holdings,

Inc.

g

5,696,040

1,270

Boston

Beer

Company,

Inc.

g

494,703

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

250

Shares

Common

Stock

(28.7%)

Value

Consumer

Staples

(1.3%)

-

continued

3,278

Cal-Maine

Foods,

Inc.

$

158,721

10,833

Casey's

General

Stores,

Inc.

2,941,376

32,723

Celsius

Holdings,

Inc.

g

5,615,267

136,293

Coca-Cola

Company

7,629,682

45,185

Colgate-Palmolive

Company

3,213,105

61,611

Coty,

Inc.

g

675,873

2,074

Darling

Ingredients,

Inc.

g

108,263

41,145

e.l.f.

Beauty,

Inc.

g

4,518,955

22,425

Flowers

Foods,

Inc.

497,387

2,547

Hain

Celestial

Group,

Inc.

g

26,412

358

Hershey

Company

71,629

8,444

Hormel

Foods

Corporation

321,125

1,599

Ingredion,

Inc.

157,342

15,891

J

&

J

Snack

Foods

Corporation

2,600,562

11,956

John

B.

Sanfilippo

&

Son,

Inc.

1,181,253

23,516

Kenvue,

Inc.

472,201

41,391

Kimberly-Clark

Corporation

5,002,102

6,335

Kroger

Company

283,491

10,444

Lamb

Weston

Holdings,

Inc.

965,652

24,280

Lancaster

Colony

Corporation

4,006,928

48,307

Mondelez

International,

Inc.

3,352,506

1,255

PepsiCo,

Inc.

212,647

15,559

Philip

Morris

International,

Inc.

1,440,452

39,165

Pilgrim's

Pride

Corporation

g

894,137

1,368

PriceSmart,

Inc.

101,820

84,648

Primo

Water

Corporation

1,168,142

21,953

Procter

&

Gamble

Company

3,202,065

206

Seneca

Foods

Corporation

g

11,089

7,838

Simply

Good

Foods

Company

g

270,568

3,513

SpartanNash

Company

77,286

12,111

Sysco

Corporation

799,932

131,378

Turning

Point

Brands,

Inc.

3,033,518

2,978

Tyson

Foods,

Inc.

150,359

118,258

US

Foods

Holding

Corporation

g

4,694,843

70,041

Walmart,

Inc.

11,201,657

Total

80,808,081

Energy

(1.0%)

14,561

APA

Corporation

598,457

18,672

BP

plc

ADR

722,980

4,164

Cactus,

Inc.

209,074

5,413

California

Resources

Corporation

303,182

8,227

Cheniere

Energy,

Inc.

1,365,353

1,422

Chesapeake

Energy

Corporation

122,619

25,759

Chevron

Corporation

4,343,483

2,793

Chord

Energy

Corporation

452,662

532

Civitas

Resources,

Inc.

43,023

2,575

Comstock

Resources,

Inc.

28,402

12,366

ConocoPhillips

1,481,447

4,757

CVR

Energy,

Inc.

161,881

12,795

Devon

Energy

Corporation

610,322

37,144

Enterprise

Products

Partners,

LP

1,016,631

3,361

Evolution

Petroleum

Corporation

22,989

49,277

Exxon

Mobil

Corporation

5,793,990

8,335

Gran

Tierra

Energy,

Inc.

g

57,845

190,226

Halliburton

Company

7,704,153

3,030

Helmerich

&

Payne,

Inc.

127,745

6,795

HF

Sinclair

Corporation

386,839

20,954

International

Seaways,

Inc.

942,930

74,854

Liberty

Energy,

Inc.

1,386,296

10,221

Magnolia

Oil

&

Gas

Corporation

234,163

11,068

Marathon

Oil

Corporation

296,069

33,074

Marathon

Petroleum

Corporation

5,005,419

65,212

Matador

Resources

Company

3,878,810

15,594

Murphy

Oil

Corporation

707,188

Shares

Common

Stock

(28.7%)

Value

Energy

(1.0%)

-

continued

104,451

NOV,

Inc.

$

2,183,026

1,499

ONEOK,

Inc.

95,082

10,026

Ovintiv,

Inc.

476,937

26,427

Par

Pacific

Holdings,

Inc.

g

949,786

7,135

Patterson-UTI

Energy,

Inc.

98,748

13,395

PBF

Energy,

Inc.

717,034

12,257

Phillips

66

1,472,679

34,584

Pioneer

Natural

Resources

Company

7,938,757

84,025

ProPetro

Holding

Corporation

g

893,186

37,493

RPC,

Inc.

335,187

22,396

SM

Energy

Company

888,001

4,651

Solaris

Oilfield

Infrastructure,

Inc.

49,580

53,942

Talos

Energy,

Inc.

g

886,807

337,542

TechnipFMC

plc

6,865,604

25,682

U.S.

Silica

Holdings,

Inc.

g

360,575

37,425

Viper

Energy

Partners,

LP

1,043,409

9,128

Williams

Companies,

Inc.

307,522

Total

63,565,872

Financials

(3.9%)

10,550

Allstate

Corporation

1,175,376

64,683

Ally

Financial,

Inc.

1,725,742

13,935

Amalgamated

Financial

Corporation

239,961

5,522

Amerant

Bancorp,

Inc.

96,304

67,755

American

Express

Company

10,108,368

4,530

American

Financial

Group,

Inc.

505,865

13,671

American

International

Group,

Inc.

828,463

19,930

Ameriprise

Financial,

Inc.

6,570,522

1,685

Ameris

Bancorp

64,687

11,931

Annaly

Capital

Management,

Inc.

224,422

125

Apollo

Global

Management,

Inc.

11,220

2,611

Arch

Capital

Group,

Ltd.

g

208,123

13,660

Arthur

J.

Gallagher

&

Company

3,113,524

7,998

Artisan

Partners

Asset

Management,

Inc.

299,285

23,430

Associated

Banc-Corp

400,887

2,218

Assurant,

Inc.

318,460

5,546

Assured

Guaranty,

Ltd.

335,644

1,202

Atlantic

Union

Bankshares

Corporation

34,594

2,120

Axis

Capital

Holdings,

Ltd.

119,504

860

Axos

Financial,

Inc.

g

32,560

20,058

Banc

of

California,

Inc.

f

248,318

95,076

Bank

of

America

Corporation

2,603,181

2,986

Bank

of

Hawaii

Corporation

f

148,374

12,177

Bank

of

Marin

Bancorp

222,596

27,500

Bank

of

N.T.

Butterfield

&

Son,

Ltd.

744,700

40,500

Bank

of

New

York

Mellon

Corporation

1,727,325

5,455

Bank

OZK

202,217

5,925

BankFinancial

Corporation

51,074

14,060

BankUnited,

Inc.

319,162

8,708

Banner

Corporation

369,045

1,907

BayCom

Corporation

36,633

11,156

BCB

Bancorp,

Inc.

124,278

20,005

Berkshire

Hathaway,

Inc.

g

7,007,752

12,827

Berkshire

Hills

Bancorp,

Inc.

257,181

3,376

BlackRock,

Inc.

2,182,550

3,864

Block,

Inc.

g

171,021

706

BOK

Financial

Corporation

56,466

64,328

Bridgewater

Bancshares,

Inc.

g

609,829

11,162

Brighthouse

Financial,

Inc.

g

546,268

18,540

Brookline

Bancorp,

Inc.

168,899

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

251

Shares

Common

Stock

(28.7%)

Value

Financials

(3.9%)

-

continued

8,580

Business

First

Bancshares,

Inc.

$

160,961

17,458

Byline

Bancorp,

Inc.

344,097

9,016

Cadence

Bank

191,320

6,630

Capital

One

Financial

Corporation

643,442

45,371

Carlyle

Group,

Inc.

1,368,389

1,581

Cathay

General

Bancorp

54,956

39,020

Central

Pacific

Financial

Corporation

650,854

1,022

Central

Valley

Community

Bancorp

14,420

34,648

Charles

Schwab

Corporation

1,902,175

22,355

Chubb,

Ltd.

4,653,864

23,024

Cincinnati

Financial

Corporation

2,355,125

28,127

Citigroup,

Inc.

1,156,864

29,640

Citizens

Financial

Group,

Inc.

794,352

9,423

CNB

Financial

Corporation

170,651

28,534

Columbia

Banking

System,

Inc.

579,240

31,974

Comerica,

Inc.

1,328,520

7,101

Commerce

Bancshares,

Inc.

340,706

1,323

Community

Bank

System,

Inc.

55,844

15,200

Community

Trust

Bancorp,

Inc.

520,752

8,283

ConnectOne

Bancorp,

Inc.

147,686

3,685

CrossFirst

Bankshares,

Inc.

g

37,182

3,550

Cullen/Frost

Bankers,

Inc.

323,796

7,726

Customers

Bancorp,

Inc.

g

266,161

5,276

CVB

Financial

Corporation

87,423

21,902

Dime

Community

Bancshares,

Inc.

437,164

6,129

Discover

Financial

Services

530,955

17,788

Eagle

Bancorp,

Inc.

381,553

12,633

East

West

Bancorp,

Inc.

665,885

3,478

Eastern

Bankshares,

Inc.

43,614

15,244

Ellington

Residential

Mortgage

REIT

94,665

4,618

Employers

Holdings,

Inc.

184,489

8,616

Enova

International,

Inc.

g

438,296

7,959

Enterprise

Financial

Services

Corporation

298,463

4,552

Equity

Bancshares,

Inc.

109,567

2,759

Euronet

Worldwide,

Inc.

g

219,009

460

EVERTEC,

Inc.

17,103

18,469

F.N.B.

Corporation

199,281

15,767

FactSet

Research

Systems,

Inc.

6,894,278

75,069

Federated

Hermes,

Inc.

2,542,587

6,867

Fidelity

National

Information

Services,

Inc.

379,539

5,109

Fifth

Third

Bancorp

129,411

12,699

Financial

Institutions,

Inc.

213,724

6,601

First

Bancorp/Puerto

Rico

88,849

138

First

Citizens

BancShares,

Inc./NC

190,454

3,079

First

Commonwealth

Financial

Corporation

37,595

827

First

Financial

Bancorp

16,209

5,563

First

Financial

Bankshares,

Inc.

139,743

5,966

First

Financial

Corporation

201,710

27,333

First

Foundation,

Inc.

166,185

2,556

First

Hawaiian,

Inc.

46,136

54,139

First

Horizon

Corporation

596,612

5,737

First

Internet

Bancorp

92,997

1,501

First

Interstate

BancSystem,

Inc.

37,435

4,368

First

Merchants

Corporation

121,518

1,929

First

Mid-Illinois

Bancshares,

Inc.

51,234

11,850

First

of

Long

Island

Corporation

136,394

13,382

Fiserv,

Inc.

g

1,511,631

845

Five

Star

Bancorp

16,951

2,014

FleetCor

Technologies,

Inc.

g

514,255

16,065

Flushing

Financial

Corporation

210,933

Shares

Common

Stock

(28.7%)

Value

Financials

(3.9%)

-

continued

28,359

Fulton

Financial

Corporation

$

343,427

30,863

Genworth

Financial,

Inc.

g

180,857

25,414

Glacier

Bancorp,

Inc.

724,299

2,294

Global

Life,

Inc.

249,427

6,524

Global

Payments,

Inc.

752,804

9,172

Great

Southern

Bancorp,

Inc.

439,522

8,441

Green

Dot

Corporation

g

117,583

33,717

Hamilton

Lane,

Inc.

3,049,365

3,261

Hancock

Whitney

Corporation

120,624

38,830

Hanmi

Financial

Corporation

630,211

6,515

Hanover

Insurance

Group,

Inc.

723,035

7,373

Hartford

Financial

Services

Group,

Inc.

522,819

57,582

Heartland

Financial

USA,

Inc.

1,694,638

34,135

Heritage

Commerce

Corporation

289,123

24,422

Heritage

Financial

Corporation

398,323

9,701

Home

BancShares,

Inc.

203,139

18,861

HomeStreet,

Inc.

f

146,927

13,835

Hometrust

Bancshares,

Inc.

299,804

81,517

Hope

Bancorp,

Inc.

721,425

20,048

Horizon

Bancorp,

Inc.

214,113

61,685

Houlihan

Lokey,

Inc.

6,607,697

21,903

Huntington

Bancshares,

Inc.

227,791

5,993

Independent

Bank

Corporation

294,196

14,206

Independent

Bank

Corporation/MI

260,538

105,825

Intercontinental

Exchange,

Inc.

11,642,867

1,304

International

Bancshares

Corporation

56,515

27,604

Invesco

Mortgage

Capital,

Inc.

276,316

25,888

Invesco,

Ltd.

375,894

87,073

J.P.

Morgan

Chase

&

Company

12,627,326

1,454

Jack

Henry

&

Associates,

Inc.

219,758

54,403

Janus

Henderson

Group

plc

1,404,685

9,477

Kearny

Financial

Corporation/MD

65,676

20,187

KeyCorp

217,212

28,472

Kinsale

Capital

Group,

Inc.

11,791,109

10,389

Lazard,

Ltd.

322,163

5,857

Loews

Corporation

370,807

6,674

M&T

Bank

Corporation

843,927

3,290

Marsh

&

McLennan

Companies,

Inc.

626,087

61,672

Mastercard,

Inc.

24,416,562

2,710

Mercantile

Bank

Corporation

83,766

11,368

MetLife,

Inc.

715,161

12,260

Metropolitan

Bank

Holding

Corporation

f,g

444,793

41,432

MFA

Financial,

Inc.

398,162

163,480

MGIC

Investment

Corporation

2,728,481

2,224

Mid

Penn

Bancorp,

Inc.

44,769

13,234

Midland

States

Bancorp,

Inc.

271,826

22,902

MidWestOne

Financial

Group,

Inc.

465,598

6,396

Morgan

Stanley

522,361

28,177

Mr.

Cooper

Group,

Inc.

g

1,509,160

8,380

MSCI,

Inc.

4,299,610

1,797

MVB

Financial

Corporation

40,576

68,172

Nasdaq,

Inc.

3,312,477

24,133

Navient

Corporation

415,570

51,045

New

York

Community

Bancorp,

Inc.

578,850

60,366

NMI

Holdings,

Inc.

g

1,635,315

701

Northrim

BanCorp,

Inc.

27,774

52,269

NU

Holdings,

Ltd./Cayman

Islands

g

378,950

17,462

OceanFirst

Financial

Corporation

252,675

7,864

OFG

Bancorp

234,819

14,988

Old

National

Bancorp

217,926

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

252

Shares

Common

Stock

(28.7%)

Value

Financials

(3.9%)

-

continued

12,399

Old

Republic

International

Corporation

$

334,029

6,459

Old

Second

Bancorp,

Inc.

87,907

34,087

OneMain

Holdings,

Inc.

1,366,548

1,886

Pacific

Premier

Bancorp,

Inc.

41,039

198,047

PayPal

Holdings,

Inc.

g

11,577,828

3,708

PCB

Bancorp

57,289

2,967

PennyMac

Financial

Services,

Inc.

197,602

4,203

Pinnacle

Financial

Partners,

Inc.

281,769

1,011

PNC

Financial

Services

Group,

Inc.

124,120

8,301

Popular,

Inc.

523,046

13,248

Premier

Financial

Corporation

226,011

1,125

PROG

Holdings,

Inc.

g

37,361

5,196

Prosperity

Bancshares,

Inc.

283,598

9,913

Provident

Financial

Services,

Inc.

151,570

4,121

Prudential

Financial,

Inc.

391,042

31,684

Radian

Group,

Inc.

795,585

66,291

Raymond

James

Financial,

Inc.

6,657,605

6,696

Regions

Financial

Corporation

115,171

94

Reinsurance

Group

of

America,

Inc.

13,648

167,694

Rithm

Capital

Corporation

1,557,877

41,938

RLI

Corporation

5,698,955

3,167

S&T

Bancorp,

Inc.

85,762

11,815

Sandy

Spring

Bancorp,

Inc.

253,195

42,800

SEI

Investments

Company

2,577,844

7,840

Shore

Bancshares,

Inc.

82,477

2,299

Simmons

First

National

Corporation

38,991

1,721

SmartFinancial,

Inc.

36,778

978

Southern

First

Bancshares,

Inc.

g

26,347

4,455

SouthState

Corporation

300,089

7,077

Synchrony

Financial

216,344

19,287

Synovus

Financial

Corporation

536,179

3,189

T.

Rowe

Price

Group,

Inc.

334,430

5,848

Territorial

Bancorp,

Inc.

53,158

23,918

TPG,

Inc.

720,410

27,190

Tradeweb

Markets,

Inc.

2,180,638

84,788

Triumph

Financial,

Inc.

g

5,493,415

10,764

TrustCo

Bank

Corporation

NY

293,750

13,043

Trustmark

Corporation

283,424

30,417

Two

Harbors

Investment

Corporation

402,721

4,390

U.S.

Bancorp

145,133

3,094

UMB

Financial

Corporation

191,983

6,563

United

Bankshares,

Inc.

181,073

4,441

United

Community

Banks,

Inc.

112,846

12,178

Univest

Financial

Corporation

211,654

38,344

Unum

Group

1,886,141

30,491

Valley

National

Bancorp

261,003

18,631

Veritex

Holdings,

Inc.

334,426

45,808

Virtu

Financial,

Inc.

791,104

3,790

Visa,

Inc.

871,738

7,827

Voya

Financial,

Inc.

520,104

3,963

W.R.

Berkley

Corporation

251,611

2,268

Walker

&

Dunlop,

Inc.

168,376

12,646

Washington

Federal,

Inc.

323,991

190

Webster

Financial

Corporation

7,659

65,893

Wells

Fargo

&

Company

2,692,388

6,616

Westamerica

Bancorporation

286,142

116,933

Western

Alliance

Bancorp

5,375,410

137,259

Western

Union

Company

1,809,074

1,545

WEX,

Inc.

g

290,599

242

Willis

Towers

Watson

plc

50,568

Shares

Common

Stock

(28.7%)

Value

Financials

(3.9%)

-

continued

3,205

Wintrust

Financial

Corporation

$

241,978

1,041

WSFS

Financial

Corporation

37,997

23,045

Zions

Bancorp

NA

804,040

Total

245,645,384

Health

Care

(3.8%)

57,690

Abbott

Laboratories

5,587,276

3,416

ACADIA

Pharmaceuticals,

Inc.

g

71,189

25,559

Agilent

Technologies,

Inc.

2,858,007

3,990

Agiliti,

Inc.

g

25,895

8,999

Agios

Pharmaceuticals,

Inc.

g

222,725

19,806

Aldeyra

Therapeutics,

Inc.

g

132,304

540

Align

Technology,

Inc.

g

164,873

46,674

Alkermes

plc

g

1,307,339

274

Alnylam

Pharmaceuticals,

Inc.

g

48,525

30,148

Amgen,

Inc.

8,102,576

13,695

Amicus

Therapeutics,

Inc.

g

166,531

5,838

Amphastar

Pharmaceuticals,

Inc.

g

268,490

5,973

Anika

Therapeutics,

Inc.

g

111,277

12,759

Apellis

Pharmaceuticals,

Inc.

g

485,352

11,417

Argenx

SE

ADR

g

5,612,940

19,073

Ascendis

Pharma

AS

ADR

g

1,785,996

6,245

AstraZeneca

plc

ADR

422,911

6,416

Avanos

Medical,

Inc.

g

129,732

113,079

Avantor,

Inc.

g

2,383,705

29,693

Azenta,

Inc.

g

1,490,292

80,952

Baxter

International,

Inc.

3,055,128

4,860

Biogen,

Inc.

g

1,249,069

374

BioMarin

Pharmaceutical,

Inc.

g

33,092

479

Bio-Rad

Laboratories,

Inc.

g

171,698

44,782

Bio-Techne

Corporation

3,048,311

1,724

Blueprint

Medicines

Corporation

g

86,579

5,241

Bruker

Corporation

326,514

2,323

Cardinal

Health,

Inc.

201,683

1,011

Cencora,

Inc.

181,950

3,643

Centene

Corporation

g

250,930

6,258

Charles

River

Laboratories

International,

Inc.

g

1,226,443

3,633

Cigna

Group

1,039,292

10,636

Codexis,

Inc.

g

20,102

15,842

Community

Health

Systems,

Inc.

g

45,942

7,567

Cooper

Companies,

Inc.

2,406,382

26,833

CVS

Health

Corporation

1,873,480

55,219

Danaher

Corporation

13,699,834

17,403

Deciphera

Pharmaceuticals,

Inc.

g

221,366

66,638

Dentsply

Sirona,

Inc.

2,276,354

26,845

Dexcom,

Inc.

g

2,504,638

36,375

Dynavax

Technologies

Corporation

g

537,259

32,074

Edwards

Lifesciences

Corporation

g

2,222,087

213,428

Elanco

Animal

Health,

Inc.

g

2,398,931

2,465

Elevance

Health,

Inc.

1,073,310

2,707

Eli

Lilly

&

Company

1,454,011

3,435

Enanta

Pharmaceuticals,

Inc.

g

38,369

98,141

Enovis

Corporation

g

5,174,975

18,597

Exelixis,

Inc.

g

406,344

13,359

Gilead

Sciences,

Inc.

1,001,123

6,442

Globus

Medical,

Inc.

g

319,845

18,413

GoodRx

Holdings,

Inc.

g

103,665

103,122

Halozyme

Therapeutics,

Inc.

g

3,939,260

2,670

HCA

Healthcare,

Inc.

656,767

17,567

Hologic,

Inc.

g

1,219,150

7,499

ICON

plc

g

1,846,629

219

IDEXX

Laboratories,

Inc.

g

95,762

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

253

Shares

Common

Stock

(28.7%)

Value

Health

Care

(3.8%)

-

continued

35,719

Immunocore

Holdings

plc

ADR

g

$

1,853,816

72,889

Inmode,

Ltd.

g

2,220,199

9,798

Inspire

Medical

Systems,

Inc.

g

1,944,315

29,632

Intuitive

Surgical,

Inc.

g

8,661,137

1,632

IQVIA

Holding,

Inc.

g

321,096

3,342

Jazz

Pharmaceuticals,

Inc.

g

432,588

12,927

Johnson

&

Johnson

2,013,380

1,062

Kiniksa

Pharmaceuticals,

Ltd.

g

18,447

7,934

Kura

Oncology,

Inc.

g

72,358

33,870

Laboratory

Corporation

of

America

Holdings

6,809,564

61,214

Lantheus

Holdings,

Inc.

g

4,253,149

256

Ligand

Pharmaceuticals,

Inc.

g

15,340

3,701

LivaNova

plc

g

195,709

431,783

Maravai

LifeSciences

Holdings,

Inc.

g

4,317,830

1,191

Masimo

Corporation

g

104,427

119

Medpace

Holdings,

Inc.

g

28,813

155,948

Medtronic

plc

12,220,085

62,448

Merck

&

Company,

Inc.

6,429,022

22,802

Molina

Healthcare,

Inc.

g

7,476,548

8,331

Myriad

Genetics,

Inc.

g

133,629

30,093

Natera,

Inc.

g

1,331,615

7,618

National

HealthCare

Corporation

487,400

83,122

Novo

Nordisk

AS

ADR

g

7,559,115

7,999

OraSure

Technologies,

Inc.

g

47,434

9,894

Pacira

Pharmaceuticals,

Inc.

g

303,548

10,663

Pediatrix

Medical

Group,

Inc.

g

135,527

54,369

Pfizer,

Inc.

1,803,420

87,731

Phreesia,

Inc.

g

1,638,815

132,243

Point

Biopharma

Global,

Inc.

g

882,061

183,514

Progyny,

Inc.

g

6,243,146

11,288

Qiagen

NV

g

457,164

9,420

QuidelOrtho

Corporation

g

688,037

147,277

R1

RCM,

Inc.

g

2,219,464

29,794

Repligen

Corporation

g

4,737,544

14,236

Revance

Therapeutics,

Inc.

g

163,287

16,493

Rocket

Pharmaceuticals,

Inc.

g

337,942

3,510

Royalty

Pharma

plc

95,261

13,886

Sarepta

Therapeutics,

Inc.

g

1,683,261

176,697

scPharmaceuticals,

Inc.

g

1,258,083

7,510

Sensus

Healthcare,

Inc.

g

20,803

11,616

ShockWave

Medical,

Inc.

g

2,312,746

2,608

Teleflex,

Inc.

512,237

13,493

TG

Therapeutics,

Inc.

g

112,801

10,964

Thermo

Fisher

Scientific,

Inc.

5,549,648

40,830

UnitedHealth

Group,

Inc.

20,586,078

6,334

Vanda

Pharmaceuticals,

Inc.

g

27,363

17,351

Veeva

Systems,

Inc.

g

3,530,061

23,355

Veracyte,

Inc.

g

521,517

86,043

Vericel

Corporation

g

2,884,161

3,741

Vertex

Pharmaceuticals,

Inc.

g

1,300,895

80,503

Viemed

Healthcare,

Inc.

g

541,785

25,372

Vor

BioPharma,

Inc.

f,g

53,789

10,138

Waters

Corporation

g

2,779,941

2,062

West

Pharmaceutical

Services,

Inc.

773,683

6,067

Zentalis

Pharmaceuticals,

Inc.

g

121,704

8,856

Zimmer

Biomet

Holdings,

Inc.

993,820

91,610

Zoetis,

Inc.

15,938,308

Total

237,939,125

Industrials

(3.5%)

8,324

A.O.

Smith

Corporation

550,466

4,387

Acuity

Brands,

Inc.

747,150

Shares

Common

Stock

(28.7%)

Value

Industrials

(3.5%)

-

continued

25,037

Advanced

Drainage

Systems,

Inc.

$

2,849,962

11,158

AGCO

Corporation

1,319,768

68,648

Air

Lease

Corporation

2,705,418

34,000

Alaska

Air

Group,

Inc.

g

1,260,720

2,049

American

Woodmark

Corporation

g

154,925

30,126

AMETEK,

Inc.

4,451,418

1,649

Apogee

Enterprises,

Inc.

77,635

16,500

Armstrong

World

Industries,

Inc.

1,188,000

84,469

ASGN,

Inc.

g

6,899,428

18,877

Automatic

Data

Processing,

Inc.

4,541,429

379

Axon

Enterprise,

Inc.

g

75,417

6,769

AZZ,

Inc.

308,531

167,313

Badger

Infrastructure

Solutions,

Ltd.

4,273,210

32,657

Barnes

Group,

Inc.

1,109,358

25,615

Beacon

Roofing

Supply,

Inc.

g

1,976,710

4,096

Boise

Cascade

Company

422,052

5,455

Builders

FirstSource,

Inc.

g

679,093

10,478

Carlisle

Companies,

Inc.

2,716,526

1,771

Caterpillar,

Inc.

483,483

27,703

Chart

Industries,

Inc.

g

4,685,131

18,160

Cimpress

plc

g

1,271,382

2,661

Cintas

Corporation

1,279,968

49,865

CNH

Industrial

NV

603,366

585

Columbus

McKinnon

Corporation

20,422

40,335

Conduent

Incorporated

g

140,366

4,453

CSW

Industrials,

Inc.

780,344

139,935

CSX

Corporation

4,303,001

16,627

Cummins,

Inc.

3,798,604

14,502

Curtiss-Wright

Corporation

2,837,026

4,382

Daseke,

Inc.

g

22,480

6,653

Deere

&

Company

2,510,709

19,665

Delta

Air

Lines,

Inc.

727,605

8,549

Donaldson

Company,

Inc.

509,862

58

Dover

Corporation

8,092

10,254

EMCOR

Group,

Inc.

2,157,339

437

Equifax,

Inc.

80,050

216,600

ExlService

Holdings,

Inc.

g

6,073,464

3,442

Expeditors

International

of

Washington,

Inc.

394,556

160,083

Fastenal

Company

8,746,935

25,279

Ferguson

plc

4,157,637

131,521

First

Advantage

Corporation

1,813,675

13,820

Flowserve

Corporation

549,621

33,429

Fluor

Corporation

g

1,226,844

2,274

Forrester

Research,

Inc.

g

65,719

14,533

Fortune

Brands

Innovations,

Inc.

903,371

7,729

Gates

Industrial

Corporation

plc

g

89,734

4,310

General

Dynamics

Corporation

952,381

6,919

Gibraltar

Industries,

Inc.

g

467,102

252

GMS,

Inc.

g

16,120

1,126

Gorman-Rupp

Company

37,045

24,911

Greenbrier

Companies,

Inc.

996,440

2,777

Griffon

Corporation

110,164

636

Heidrick

&

Struggles

International,

Inc.

15,913

66,532

Helios

Technologies,

Inc.

3,691,195

5,090

Herc

Holdings,

Inc.

605,405

16,307

Hillman

Solutions

Corporation

g

134,533

3,107

Honeywell

International,

Inc.

573,987

176,927

Howmet

Aerospace,

Inc.

8,182,874

3,429

Hubbell,

Inc.

1,074,683

3,082

IDEX

Corporation

641,118

1,338

Ingersoll

Rand,

Inc.

85,257

7,598

Interface,

Inc.

74,536

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

254

Shares

Common

Stock

(28.7%)

Value

Industrials

(3.5%)

-

continued

378,357

Janus

International

Group,

Inc.

g

$

4,048,420

2,381

JB

Hunt

Transport

Services,

Inc.

448,866

40,134

JetBlue

Airways

Corporation

g

184,616

7,699

Johnson

Controls

International

plc

409,664

13,104

Kennametal,

Inc.

326,027

5,311

L3Harris

Technologies,

Inc.

924,751

21,445

Lincoln

Electric

Holdings,

Inc.

3,898,487

19,137

ManpowerGroup,

Inc.

1,403,125

29,202

Masco

Corporation

1,560,847

92,233

Masterbrand,

Inc.

g

1,120,631

5,104

Matson,

Inc.

452,827

18,264

Maximus,

Inc.

1,363,955

40,238

Middleby

Corporation

g

5,150,464

25,429

Miller

Industries,

Inc.

997,071

7,294

Moog,

Inc.

823,930

7,502

MSC

Industrial

Direct

Company,

Inc.

736,321

1,825

MYR

Group,

Inc.

g

245,937

573

National

Presto

Industries,

Inc.

41,520

17,554

Northrop

Grumman

Corporation

7,727,095

17,517

nVent

Electric

plc

928,226

7,261

Old

Dominion

Freight

Line,

Inc.

2,970,766

47,786

Oshkosh

Corporation

4,560,218

3,296

Otis

Worldwide

Corporation

264,702

38,260

Owens

Corning,

Inc.

5,219,047

14,818

PACCAR,

Inc.

1,259,826

18,419

Parker-Hannifin

Corporation

7,174,569

1,229

Paycom

Software,

Inc.

318,643

1,367

Paylocity

Holding

Corporation

g

248,384

69,684

Pentair

plc

4,512,039

610

Quanta

Services,

Inc.

114,113

84,303

RB

Global,

Inc.

5,268,937

22,475

Regal

Rexnord

Corporation

3,211,228

4,406

Republic

Services,

Inc.

627,899

7,794

Resideo

Technologies,

Inc.

g

123,145

12,037

Saia,

Inc.

g

4,798,550

49,576

Schneider

National,

Inc.

1,372,759

25,101

Simpson

Manufacturing

Company,

Inc.

3,760,381

10,439

SiteOne

Landscape

Supply,

Inc.

g

1,706,255

17,897

SkyWest,

Inc.

g

750,600

765

Snap-On,

Inc.

195,121

20,851

Southwest

Airlines

Company

564,437

12,074

Standex

International

Corporation

1,759,061

2,190

Sterling

Construction

Company,

Inc.

g

160,921

15,652

Tennant

Company

1,160,596

11,613

Terex

Corporation

669,141

8,134

Textron,

Inc.

635,591

32,370

Timken

Company

2,378,871

6,468

Titan

International,

Inc.

g

86,865

6,006

Titan

Machinery,

Inc.

g

159,639

4,798

Trane

Technologies

plc

973,562

38,943

TransUnion

2,795,718

10,162

Trex

Company,

Inc.

g

626,284

233,294

Uber

Technologies,

Inc.

g

10,729,191

131

UniFirst

Corporation/MA

21,354

6,764

United

Parcel

Service,

Inc.

1,054,305

6,973

United

Rentals,

Inc.

3,099,987

1,545

Valmont

Industries,

Inc.

371,124

3,734

Vertiv

Holdings

Company

138,905

12,846

Wabash

National

Corporation

271,308

Shares

Common

Stock

(28.7%)

Value

Industrials

(3.5%)

-

continued

101,207

WillScot

Mobile

Mini

Holdings

Corporation

g

$

4,209,199

Total

219,322,776

Information

Technology

(7.3%)

32,698

8x8,

Inc.

g

82,399

31,275

Adobe,

Inc.

g

15,947,122

110,821

Advanced

Micro

Devices,

Inc.

g

11,394,615

2,552

Alarm.com

Holdings,

Inc.

g

156,029

4,161

Alpha

and

Omega

Semiconductor,

Ltd.

g

124,164

2,025

American

Software,

Inc.

23,207

12,895

Amkor

Technology,

Inc.

291,427

65,623

Amphenol

Corporation

5,511,676

326

ANSYS,

Inc.

g

97,001

288,386

Apple,

Inc.

49,374,567

64,115

Applied

Materials,

Inc.

8,876,722

14,445

Arista

Networks,

Inc.

g

2,656,869

12,774

Autodesk,

Inc.

g

2,643,068

720

Broadcom,

Inc.

598,018

148,747

Calix,

Inc.

g

6,818,562

1,000

CDW

Corporation

201,760

20,533

Ciena

Corporation

g

970,390

356,516

Cisco

Systems,

Inc.

19,166,300

60,792

Cognex

Corporation

2,580,012

297

Cognizant

Technology

Solutions

Corporation

20,119

29,981

Cohu,

Inc.

g

1,032,546

39,872

CommScope

Holding

Company,

Inc.

g

133,970

269

CommVault

Systems,

Inc.

g

18,187

2,112

Corning,

Inc.

64,353

4,360

Crane

NXT

Company

242,285

4,043

Datadog,

Inc.

g

368,277

45,291

Descartes

Systems

Group,

Inc.

g

3,323,454

6,583

DocuSign,

Inc.

g

276,486

19,220

Dolby

Laboratories,

Inc.

1,523,377

124,837

Dropbox,

Inc.

g

3,399,312

52,415

Dynatrace

Holdings,

LLC

g

2,449,353

1,991

Elastic

NV

g

161,749

577

Enphase

Energy,

Inc.

g

69,327

22,353

Entegris,

Inc.

2,099,170

8,696

EPAM

Systems,

Inc.

g

2,223,480

1,299

F5,

Inc.

g

209,321

70

Fair

Isaac

Corporation

g

60,797

17,155

Five9,

Inc.

g

1,103,067

88,959

Flex,

Ltd.

g

2,400,114

6,761

FormFactor,

Inc.

g

236,229

78,546

Fortinet,

Inc.

g

4,609,079

34

Gartner,

Inc.

g

11,683

66,040

Gilat

Satellite

Networks,

Ltd.

g

424,637

3,944

GoDaddy,

Inc.

g

293,749

202,945

Grid

Dynamics

Holdings,

Inc.

g

2,471,870

86,631

Guidewire

Software,

Inc.

g

7,796,790

117,740

Hackett

Group,

Inc.

2,777,487

30,037

Hewlett

Packard

Enterprise

Company

521,743

284

HP,

Inc.

7,299

5,232

HubSpot,

Inc.

g

2,576,760

3,560

Insight

Enterprises,

Inc.

g

517,980

5,930

IPG

Photonics

Corporation

g

602,132

5,283

JFrog,

Ltd.

g

133,977

52,813

Juniper

Networks,

Inc.

1,467,673

5,809

Keysight

Technologies,

Inc.

g

768,589

5,035

KLA

Corporation

2,309,353

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

255

Shares

Common

Stock

(28.7%)

Value

Information

Technology

(7.3%)

-

continued

71,030

Knowles

Corporation

g

$

1,051,954

24,428

Kyndryl

Holdings,

Inc.

g

368,863

4,743

Lam

Research

Corporation

2,972,770

73,885

Lattice

Semiconductor

Corporation

g

6,348,938

11,266

Littelfuse,

Inc.

2,786,307

16,907

LiveRamp

Holding,

Inc.

g

487,598

10,192

Marvell

Technology,

Inc.

551,693

7,322

MaxLinear,

Inc.

g

162,915

17,917

Microchip

Technology,

Inc.

1,398,422

272,151

Microsoft

Corporation

85,931,678

7,760

MKS

Instruments,

Inc.

671,550

8,051

Monolithic

Power

Systems,

Inc.

3,719,562

485

Motorola

Solutions,

Inc.

132,036

9,825

NCR

Corporation

g

264,980

7,178

NetApp,

Inc.

544,667

544

NICE,

Ltd.

ADR

g

92,480

33,650

Nova,

Ltd.

g

3,783,606

105,428

NVIDIA

Corporation

45,860,126

1,394

ON

Semiconductor

Corporation

g

129,572

648

OSI

Systems,

Inc.

g

76,490

87,348

PagerDuty,

Inc.

g

1,964,457

20,334

Palo

Alto

Networks,

Inc.

g

4,767,103

34,749

PDF

Solutions,

Inc.

g

1,125,868

15,669

Plexus

Corporation

g

1,456,904

23,182

PTC,

Inc.

g

3,284,426

15,286

Q2

Holdings,

Inc.

g

493,279

2,794

Qorvo,

Inc.

g

266,743

131,644

QUALCOMM,

Inc.

14,620,383

21,230

Rackspace

Technology,

Inc.

f,g

49,891

6,337

Rapid7,

Inc.

g

290,108

8,620

RingCentral,

Inc.

g

255,411

2,758

Roper

Industries,

Inc.

1,335,644

80,286

Salesforce,

Inc.

g

16,280,395

25,813

Samsung

Electronics

Company,

Ltd.

1,304,954

2,180

Sanmina

Corporation

g

118,330

28,278

ServiceNow,

Inc.

g

15,806,271

19,155

Silicon

Laboratories,

Inc.

g

2,219,873

6,476

Skyworks

Solutions,

Inc.

638,469

14,162

SolarWinds

Corporation

g

133,689

6,550

Sprinklr,

Inc.

g

90,652

165,183

Sprout

Social,

Inc.

g

8,239,328

9,907

SPS

Commerce,

Inc.

g

1,690,233

9,971

Synopsys,

Inc.

g

4,576,390

31,717

TE

Connectivity,

Ltd.

3,918,001

709

Teledyne

Technologies,

Inc.

g

289,683

12,717

Teradata

Corporation

g

572,519

174

Teradyne,

Inc.

17,480

28,635

Texas

Instruments,

Inc.

4,553,251

1,615

Trimble,

Inc.

g

86,984

370,596

TTM

Technologies,

Inc.

g

4,773,276

26,707

Tyler

Technologies,

Inc.

g

10,312,641

41,535

Unisys

Corporation

g

143,296

10,260

Universal

Display

Corporation

1,610,717

16,722

Upland

Software,

Inc.

g

77,256

124,539

Varonis

Systems,

Inc.

g

3,803,421

8,072

Verint

Systems,

Inc.

g

185,575

17,644

VeriSign,

Inc.

g

3,573,439

27,998

Viavi

Solutions,

Inc.

g

255,902

30,003

Vishay

Intertechnology,

Inc.

741,674

32,521

Vontier

Corporation

1,005,549

31,232

Wolfspeed,

Inc.

g

1,189,939

55,953

Workiva,

Inc.

g

5,670,277

5,721

Xerox

Holdings

Corporation

89,762

Shares

Common

Stock

(28.7%)

Value

Information

Technology

(7.3%)

-

continued

24,252

Yext,

Inc.

g

$

153,515

4,325

Zoom

Video

Communications,

Inc.

g

302,491

Total

457,891,338

Materials

(0.7%)

1,469

Albemarle

Corporation

249,789

24,456

Alcoa

Corporation

710,691

1,738

AptarGroup,

Inc.

217,320

25,136

Axalta

Coating

Systems,

Ltd.

g

676,158

2,666

Ball

Corporation

132,713

7,620

Berry

Plastics

Group,

Inc.

471,754

15,195

Carpenter

Technology

Corporation

1,021,256

12,134

Celanese

Corporation

1,523,060

12,515

CF

Industries

Holdings,

Inc.

1,073,036

47,555

Cleveland-Cliffs,

Inc.

g

743,285

12,832

Commercial

Metals

Company

634,029

8,138

Eagle

Materials,

Inc.

1,355,140

8,066

Eastman

Chemical

Company

618,824

471

Hawkins,

Inc.

27,718

23,906

Huntsman

Corporation

583,306

28,962

Ingevity

Corporation

g

1,378,881

8,693

Innospec,

Inc.

888,425

87,961

Ivanhoe

Mines,

Ltd.

g

753,813

2,774

Kaiser

Aluminum

Corporation

208,771

7,508

Linde

plc

2,795,604

13,207

LSB

Industries,

Inc.

g

135,108

716

LyondellBasell

Industries

NV

67,805

5,628

Martin

Marietta

Materials,

Inc.

2,310,181

2,644

Myers

Industries,

Inc.

47,407

11,022

Newmont

Corporation

407,263

51,138

Nucor

Corporation

7,995,426

16,002

O-I

Glass,

Inc.

g

267,713

8,954

Orion

SA

190,541

2,886

PPG

Industries,

Inc.

374,603

442,417

Ranpak

Holdings

Corporation

g

2,406,748

876

Reliance

Steel

&

Aluminum

Company

229,713

33,355

RPM

International,

Inc.

3,162,388

6,171

Ryerson

Holding

Corporation

179,514

8,473

Schnitzer

Steel

Industries,

Inc.

235,973

2,830

Steel

Dynamics,

Inc.

303,433

67,147

Summit

Materials,

Inc.

g

2,090,958

20,973

SunCoke

Energy,

Inc.

212,876

7,817

TimkenSteel

Corporation

g

169,785

2,881

TriMas

Corporation

71,334

4,172

Trinseo

plc

34,085

239,948

Tronox

Holdings

plc

3,224,901

8,046

United

States

Lime

&

Minerals,

Inc.

1,617,246

49,189

United

States

Steel

Corporation

1,597,659

3,809

Vulcan

Materials

Company

769,494

Total

44,165,727

Real

Estate

(1.0%)

112,191

Agree

Realty

Corporation

6,197,431

963

Alexandria

Real

Estate

Equities,

Inc.

96,396

33,775

Apartment

Income

REIT

Corporation

1,036,892

17,413

AvalonBay

Communities,

Inc.

2,990,509

9,233

Camden

Property

Trust

873,257

7,360

CareTrust

REIT,

Inc.

150,880

25,043

CBRE

Group,

Inc.

g

1,849,676

6,446

Centerspace

388,436

13,752

Chatham

Lodging

Trust

131,607

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

256

Shares

Common

Stock

(28.7%)

Value

Real

Estate

(1.0%)

-

continued

46,928

Compass,

Inc.

g

$

136,091

62,663

CubeSmart

2,389,340

149,235

Cushman

and

Wakefield

plc

g

1,137,171

2,547

EastGroup

Properties,

Inc.

424,152

42,291

Elme

Communities

576,849

33,196

EPR

Properties

1,378,962

95,848

Equity

Commonwealth

1,760,728

25,576

Equity

Residential

1,501,567

19,425

Essential

Properties

Realty

Trust,

Inc.

420,163

1,716

Essex

Property

Trust,

Inc.

363,946

9,173

Extra

Space

Storage,

Inc.

1,115,253

26,690

First

Industrial

Realty

Trust,

Inc.

1,270,177

17,905

FirstService

Corporation

2,605,894

44,444

Four

Corners

Property

Trust,

Inc.

986,212

9,764

Getty

Realty

Corporation

270,756

39,002

Healthcare

Realty

Trust,

Inc.

595,561

41,313

Host

Hotels

&

Resorts,

Inc.

663,900

5,802

Howard

Hughes

Holdings,

Inc.

g

430,102

128,405

Independence

Realty

Trust,

Inc.

1,806,658

9,286

Kennedy-Wilson

Holdings,

Inc.

136,876

3,496

LTC

Properties,

Inc.

112,326

105,580

LXP

Industrial

Trust

939,662

17,342

Mid-America

Apartment

Communities,

Inc.

2,231,048

49,225

National

Storage

Affiliates

Trust

1,562,402

37,619

NetSTREIT

Corporation

586,104

12,711

NNN

REIT,

Inc.

449,207

35,131

Pebblebrook

Hotel

Trust

477,430

13,991

Public

Storage

3,686,908

7,086

Realty

Income

Corporation

353,875

22,366

Regency

Centers

Corporation

1,329,435

48,082

Rexford

Industrial

Realty,

Inc.

2,372,847

3,260

RMR

Group,

Inc.

79,935

46,265

Sabra

Health

Care

REIT,

Inc.

644,934

45,134

SBA

Communications

Corporation

9,034,473

84,359

Service

Properties

Trust

648,721

6,704

Terreno

Realty

Corporation

380,787

95,532

UDR,

Inc.

3,407,626

4,339

Welltower,

Inc.

355,451

Total

62,338,613

Utilities

(0.5%)

4,199

AES

Corporation

63,825

2,235

Alliant

Energy

Corporation

108,286

55,990

American

Electric

Power

Company,

Inc.

4,211,568

6,522

Artesian

Resources

Corporation

273,859

3,686

Avista

Corporation

119,316

31,019

Black

Hills

Corporation

1,569,251

2,878

CenterPoint

Energy,

Inc.

77,274

501

Clearway

Energy,

Inc.

9,980

10,434

Constellation

Energy

Corporation

1,138,141

9,050

Duke

Energy

Corporation

798,753

5,234

Edison

International

331,260

14,344

Entergy

Corporation

1,326,820

47,060

Evergy,

Inc.

2,385,942

1,911

NextEra

Energy

Partners,

LP

f

56,756

250,629

NiSource,

Inc.

6,185,524

44,440

NorthWestern

Corporation

2,135,786

86,381

OGE

Energy

Corporation

2,879,079

11,639

Pinnacle

West

Capital

Corporation

857,561

40,896

Portland

General

Electric

Company

1,655,470

Shares

Common

Stock

(28.7%)

Value

Utilities

(0.5%)

-

continued

9,979

Public

Service

Enterprise

Group,

Inc.

$

567,905

11,472

Spire,

Inc.

649,086

80,321

UGI

Corporation

1,847,383

Total

29,248,825

Total

Common

Stock

(cost

$1,428,369,815)

1,792,633,631

Principal

Amount

Long-Term

Fixed

Income

(

10.0%

)

Value

Asset-Backed

Securities

(0.3%)

510

Asset

Backed

Trust

$

950,000

3.967%, 

5/25/2061,

Ser.

2021-NPL1,

Class

A2

h,i

808,473

720

East

CLO

I,

Ltd.

850,000

8.576%, 

(TSFR3M

+

3.250%),

1/20/2036,

Ser.

2022-1A,

Class

B

b,h

854,827

275,000

9.576%, 

(TSFR3M

+

4.250%),

1/20/2036,

Ser.

2022-1A,

Class

C

b,h

277,094

Access

Group,

Inc.

73,310

5.929%, 

(SOFR30A

+

0.614%),

2/25/2036,

Ser.

2013-1,

Class

A

b,h

72,019

Affirm

Asset

Securitization

Trust

325,000

6.610%, 

1/18/2028,

Ser.

2023-A,

Class

1A

h

323,382

AMSR

Trust

500,000

2.352%, 

6/17/2038,

Ser.

2021-SFR1,

Class

C

h

416,322

675,000

2.517%, 

12/17/2038,

Ser.

2021-SFR4,

Class

C

h

589,752

Ares

XL

CLO,

Ltd.

1,000,000

8.370%, 

(TSFR3M

+

3.062%),

1/15/2029,

Ser.

2016-40A,

Class

CRR

b,h

978,871

Business

Jet

Securities,

LLC

266,921

2.981%, 

11/15/2035,

Ser.

2020-1A,

Class

A

h

250,246

CarVal

CLO

II,

Ltd.

600,000

7.588%, 

(TSFR3M

+

2.262%),

4/20/2032,

Ser.

2019-1A,

Class

CR

b,h

591,290

CarVal

CLO

VIII-C,

Ltd.

525,000

7.646%, 

(TSFR3M

+

2.300%),

10/22/2035,

Ser.

2022-2A,

Class

A

b,h

527,889

375,000

8.346%, 

(TSFR3M

+

3.000%),

10/22/2035,

Ser.

2022-2A,

Class

B1

b,h

377,127

CMFT

Net

Lease

Master

Issuer,

LLC

622,508

2.090%, 

7/20/2051,

Ser.

2021-1,

Class

A1

h

513,306

Commonbond

Student

Loan

Trust

82,559

5.934%, 

(TSFR1M

+

0.614%),

2/25/2044,

Ser.

2018-AGS,

Class

A2

b,h

80,413

Dryden

36

Senior

Loan

Fund

850,000

7.620%, 

(TSFR3M

+

2.312%),

4/15/2029,

Ser.

2014-36A,

Class

CR3

b,h

836,946

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

257

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Asset-Backed

Securities

(0.3%)

-

continued

Foundation

Finance

Trust

$

393,648

1.270%, 

5/15/2041,

Ser.

2021-1A,

Class

A

h

$

347,105

FRTKL

Trust

1,150,000

1.922%, 

9/17/2038,

Ser.

2021-SFR1,

Class

C

h

998,710

Goodgreen

672,394

3.860%, 

10/15/2054,

Ser.

2019-1A,

Class

A

h

602,436

Home

Partners

of

America

Trust

1,203,313

2.302%, 

12/17/2026,

Ser.

2021-2,

Class

B

h

1,058,195

986,376

2.078%, 

9/17/2041,

Ser.

2021-1,

Class

C

h

803,820

Laurel

Road

Prime

Student

Loan

Trust

16,428

2.810%, 

11/25/2042,

Ser.

2017-C,

Class

A2B

h

16,261

233,621

Zero

Coupon, 

11/25/2043,

Ser.

2018-D,

Class

A

b,h

216,571

Longfellow

Place

CLO,

Ltd.

525,000

7.870%, 

(TSFR3M

+

2.562%),

4/15/2029,

Ser.

2013-1A,

Class

CR3

b,h

523,542

Mercury

Financial

Credit

Card

Master

Trust

1,000,000

2.500%, 

9/21/2026,

Ser.

2022-1A,

Class

A

h

957,246

National

Collegiate

Trust

269,428

5.729%, 

(LIBOR

1M

+

0.295%),

5/25/2031,

Ser.

2007-A,

Class

A

b,h

260,906

Preston

Ridge

Partners

Mortgage

Trust,

LLC

667,633

2.115%, 

1/25/2026,

Ser.

2021-1,

Class

A1

b,h

628,796

Pretium

Mortgage

Credit

Partners,

LLC

455,474

5.240%, 

4/25/2052,

Ser.

2022-NPL2,

Class

A1

h,i

442,573

337,074

2.240%, 

9/27/2060,

Ser.

2021-NPL1,

Class

A1

h,i

325,278

Progress

Residential

Trust

600,000

1.888%, 

5/17/2026,

Ser.

2021-SFR3,

Class

B

h

533,331

Renaissance

Home

Equity

Loan

Trust

1,083,769

5.580%, 

11/25/2036,

Ser.

2006-3,

Class

AF2

i

383,202

Saxon

Asset

Securities

Trust

430,017

2.869%, 

8/25/2035,

Ser.

2004-2,

Class

MF2

b

356,833

Tricon

Residential

Trust

800,000

2.244%, 

7/17/2038,

Ser.

2021-SFR1,

Class

B

h

713,841

VCAT

Asset

Securitization,

LLC

500,000

4.826%, 

12/26/2050,

Ser.

2021-NPL1,

Class

A2

h,i

450,491

Vericrest

Opportunity

Loan

Transferee

480,776

1.893%, 

2/27/2051,

Ser.

2021-NPL2,

Class

A1

h,i

446,649

341,290

2.116%, 

4/25/2051,

Ser.

2021-NPL8,

Class

A1

h,i

317,523

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Asset-Backed

Securities

(0.3%)

-

continued

$

450,000

4.949%, 

4/25/2051,

Ser.

2021-NPL8,

Class

A2

h,i

$

340,246

375,000

5.438%, 

12/26/2051,

Ser.

2021-NP12,

Class

A2

h,i

282,544

Wind

River

CLO,

Ltd.

625,000

7.588%, 

(TSFR3M

+

2.262%),

7/20/2030,

Ser.

2013-1A,

Class

BRR

b,h

620,947

Total

19,125,003

Basic

Materials

(0.1%)

Alcoa

Nederland

Holding

BV

171,000

5.500%, 

12/15/2027

h

162,432

Anglo

American

Capital

plc

275,000

3.875%, 

3/16/2029

h

246,427

ATI,

Inc.

120,000

7.250%, 

8/15/2030

119,100

Cascades,

Inc./Cascades

USA,

Inc.

165,000

5.125%, 

1/15/2026

h

157,947

Chemours

Company

170,000

5.750%, 

11/15/2028

h

147,543

Cleveland-Cliffs,

Inc.

190,000

5.875%, 

6/1/2027

f

180,844

90,000

4.625%, 

3/1/2029

f,h

78,396

Consolidated

Energy

Finance

SA

317,000

5.625%, 

10/15/2028

h

261,921

EIDP,

Inc.

224,000

4.500%, 

5/15/2026

218,181

First

Quantum

Minerals,

Ltd.

314,000

6.875%, 

10/15/2027

h

301,245

FMC

Corporation

227,000

5.150%, 

5/18/2026

220,539

Glencore

Funding,

LLC

226,000

3.375%, 

9/23/2051

h

135,650

323,000

4.000%, 

3/27/2027

h

303,185

219,000

6.125%, 

10/6/2028

e,h

218,624

Hecla

Mining

Company

90,000

7.250%, 

2/15/2028

87,074

Hudbay

Minerals,

Inc.

202,000

4.500%, 

4/1/2026

h

188,986

Illuminate

Buyer,

LLC/Illuminate

Holdings

IV,

Inc.

132,000

9.000%, 

7/1/2028

h

124,667

International

Flavors

&

Fragrances,

Inc.

269,000

1.230%, 

10/1/2025

h

241,131

Methanex

Corporation

167,000

4.250%, 

12/1/2024

162,537

Mineral

Resources,

Ltd.

36,000

9.250%, 

10/1/2028

h

36,360

Mosaic

Company

300,000

4.050%, 

11/15/2027

281,600

Novelis

Corporation

85,000

3.250%, 

11/15/2026

h

75,913

100,000

4.750%, 

1/30/2030

h

86,545

85,000

3.875%, 

8/15/2031

h

67,880

Nutrien,

Ltd.

112,000

4.900%, 

3/27/2028

108,172

OCI

NV

115,000

4.625%, 

10/15/2025

h

108,727

Olin

Corporation

245,000

5.125%, 

9/15/2027

229,077

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

258

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Basic

Materials

(0.1%)

-

continued

SCIL

IV,

LLC/SCIL

USA

Holdings,

LLC

$

184,000

5.375%, 

11/1/2026

h

$

168,124

SNF

Group

SACA

166,000

3.375%, 

3/15/2030

h

133,979

SunCoke

Energy,

Inc.

180,000

4.875%, 

6/30/2029

h

152,951

Taseko

Mines,

Ltd.

129,000

7.000%, 

2/15/2026

h

120,503

Unifrax

Escrow

Issuer

Corporation

147,000

5.250%, 

9/30/2028

h

104,685

United

States

Steel

Corporation

190,000

6.875%, 

3/1/2029

f

186,781

Total

5,417,726

Capital

Goods

(0.2%)

Advanced

Drainage

Systems,

Inc.

157,000

6.375%, 

6/15/2030

h

150,791

AECOM

280,000

5.125%, 

3/15/2027

265,189

Amsted

Industries,

Inc.

245,000

5.625%, 

7/1/2027

h

230,916

ARD

Finance

SA

56,000

6.500%, 

6/30/2027

h

42,249

Ardagh

Packaging

Finance

plc/

Ardagh

Holdings

USA,

Inc.

150,000

5.250%, 

8/15/2027

h

125,174

99,000

5.250%, 

8/15/2027

f,h

82,615

Boeing

Company

505,000

5.930%, 

5/1/2060

453,449

234,000

5.040%, 

5/1/2027

228,468

538,000

5.705%, 

5/1/2040

496,360

Bombardier,

Inc.

36,000

7.125%, 

6/15/2026

h

34,879

211,000

7.875%, 

4/15/2027

h

205,883

145,000

6.000%, 

2/15/2028

h

131,543

Brand

Industrial

Services,

Inc.

58,000

10.375%, 

8/1/2030

h

58,089

Builders

FirstSource,

Inc.

140,000

5.000%, 

3/1/2030

h

124,825

Canpack

SA/Canpack

US,

LLC

220,000

3.125%, 

11/1/2025

h

202,946

Carrier

Global

Corporation

300,000

2.700%, 

2/15/2031

243,182

Chart

Industries,

Inc.

179,000

7.500%, 

1/1/2030

h

179,981

Clean

Harbors,

Inc.

237,000

6.375%, 

2/1/2031

h

230,452

Clydesdale

Acquisition

Holdings,

Inc.

24,000

6.625%, 

4/15/2029

h

22,315

48,000

8.750%, 

4/15/2030

h

41,168

CNH

Industrial

NV

154,000

3.850%, 

11/15/2027

143,332

Cornerstone

Building

Brands,

Inc.

123,000

6.125%, 

1/15/2029

h

93,246

Covanta

Holding

Corporation

85,000

4.875%, 

12/1/2029

h

69,734

CP

Atlas

Buyer,

Inc.

165,000

7.000%, 

12/1/2028

h

129,383

Crown

Cork

&

Seal

Company,

Inc.

153,000

7.375%, 

12/15/2026

155,295

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Capital

Goods

(0.2%)

-

continued

Emerald

Debt

Merger

Sub,

LLC

$

180,000

6.625%, 

12/15/2030

h

$

173,281

GFL

Environmental,

Inc.

140,000

4.000%, 

8/1/2028

h

122,327

248,000

3.500%, 

9/1/2028

h

213,506

H&E

Equipment

Services,

Inc.

313,000

3.875%, 

12/15/2028

h

267,269

Herc

Holdings,

Inc.

160,000

5.500%, 

7/15/2027

h

151,305

Howmet

Aerospace,

Inc.

391,000

3.000%, 

1/15/2029

330,966

338,000

5.950%, 

2/1/2037

317,360

Ingersoll

Rand,

Inc.

55,000

5.700%, 

8/14/2033

53,081

John

Deere

Capital

Corporation

183,000

4.950%, 

7/14/2028

180,473

Lockheed

Martin

Corporation

348,000

4.500%, 

5/15/2036

317,154

120,000

6.150%, 

9/1/2036

125,879

Mauser

Packaging

Solutions

Holding

Company

95,000

9.250%, 

4/15/2027

h

83,038

MIWD

Holdco

II,

LLC

96,000

5.500%, 

2/1/2030

h

79,319

Mueller

Water

Products,

Inc.

101,000

4.000%, 

6/15/2029

h

87,961

Nesco

Holdings

II,

Inc.

190,000

5.500%, 

4/15/2029

h

166,725

New

Enterprise

Stone

and

Lime

Company,

Inc.

210,000

5.250%, 

7/15/2028

h

188,427

Nordson

Corporation

218,000

5.600%, 

9/15/2028

215,907

Northrop

Grumman

Corporation

470,000

3.850%, 

4/15/2045

349,941

OI

European

Group

BV

184,000

4.750%, 

2/15/2030

h

160,053

Owens-Brockway

Glass

Container,

Inc.

96,000

6.625%, 

5/13/2027

h

93,589

Pactiv

Evergreen

Group

130,000

4.375%, 

10/15/2028

h

112,796

Parker-Hannifin

Corporation

563,000

4.500%, 

9/15/2029

532,891

PGT

Innovations,

Inc.

175,000

4.375%, 

10/1/2029

h

161,365

Regal

Rexnord

Corporation

281,000

6.050%, 

2/15/2026

h

277,867

Republic

Services,

Inc.

221,000

2.900%, 

7/1/2026

206,675

Roller

Bearing

Company

of

America,

Inc.

136,000

4.375%, 

10/15/2029

h

116,982

RTX

Corporation

179,000

4.125%, 

11/16/2028

166,910

375,000

4.450%, 

11/16/2038

315,492

Sealed

Air

Corporation

149,000

6.125%, 

2/1/2028

h

144,310

Silgan

Holdings,

Inc.

71,000

4.125%, 

2/1/2028

63,520

SRM

Escrow

Issuer,

LLC

287,000

6.000%, 

11/1/2028

h

265,033

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

259

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Capital

Goods

(0.2%)

-

continued

Textron,

Inc.

$

320,000

3.375%, 

3/1/2028

$

289,357

Titan

Acquisition,

Ltd./Titan

Co-

Borrower,

LLC

95,000

7.750%, 

4/15/2026

h

93,100

Trane

Technologies

Financing,

Ltd.

229,000

3.500%, 

3/21/2026

217,354

TransDigm,

Inc.

219,000

6.250%, 

3/15/2026

h

215,185

521,000

5.500%, 

11/15/2027

487,838

Triumph

Group,

Inc.

153,000

9.000%, 

3/15/2028

h

151,287

United

Rentals

North

America,

Inc.

175,000

4.875%, 

1/15/2028

163,468

185,000

4.000%, 

7/15/2030

157,661

Veralto

Corporation

215,000

5.350%, 

9/18/2028

h

212,568

Waste

Management,

Inc.

219,000

4.875%, 

2/15/2034

207,256

Waste

Pro

USA,

Inc.

110,000

5.500%, 

2/15/2026

h

102,715

WESCO

Distribution,

Inc.

230,000

7.250%, 

6/15/2028

h

231,116

Total

12,711,771

Collateralized

Mortgage

Obligations

(0.4%)

Banc

of

America

Alternative

Loan

Trust

11,853

6.000%, 

11/25/2035,

Ser.

2005-10,

Class

3CB1

9,906

BINOM

Securitization

Trust

495,605

2.370%, 

6/25/2056,

Ser.

2021-INV1,

Class

A2

b,h

415,978

CHNGE

Mortgage

Trust

853,711

7.100%, 

7/25/2058,

Ser.

2023-3,

Class

A1

h,i

848,945

948,485

6.000%, 

10/25/2057,

Ser.

2022-4,

Class

A1

h,i

923,228

Citicorp

Mortgage

Securities,

Inc.

531,330

6.000%, 

7/25/2037,

Ser.

2007-6,

Class

1A4

452,334

Citigroup

Mortgage

Loan

Trust,

Inc.

1,928

4.524%, 

3/25/2037,

Ser.

2007-AR4,

Class

2A1A

b

1,881

COLT

Mortgage

Loan

Trust

1,001,800

1.726%, 

11/25/2066,

Ser.

2021-5,

Class

A1

b,h

820,678

Countrywide

Alternative

Loan

Trust

298,369

3.784%, 

10/25/2035,

Ser.

2005-43,

Class

4A1

b

240,699

588,572

7.000%, 

10/25/2037,

Ser.

2007-24,

Class

A10

212,564

Countrywide

Home

Loans,

Inc.

149,615

5.750%, 

4/25/2037,

Ser.

2007-3,

Class

A27

67,667

Credit

Suisse

Mortgage

Trust

500,000

3.346%, 

1/25/2067,

Ser.

2022-ATH1,

Class

A1B

b,h

421,072

875,000

4.000%, 

2/25/2067,

Ser.

2022-NQM2,

Class

A1B

b,h

739,309

443,343

6.567%, 

8/25/2067,

Ser.

2022-ATH3,

Class

A3

b,h

432,721

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Collateralized

Mortgage

Obligations

(0.4%)

-

continued

$

438,060

2.572%, 

11/25/2066,

Ser.

2022-NQM1,

Class

A2

b,h

$

346,625

Deutsche

Alt-A

Securities,

Inc.,

Mortgage

Loan

Trust

64,243

6.000%, 

10/25/2023,

Ser.

2006-AR5,

Class

23A

33,143

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

1,042,836

4.000%, 

1/25/2051,

Ser.

5249,

Class

LA

983,848

304,077

3.000%, 

2/15/2033,

Ser.

4170,

Class

IG

j

25,881

648,967

3.000%, 

3/15/2033,

Ser.

4180,

Class

PI

j

65,808

1,244,803

4.500%, 

10/15/2033,

Ser.

2695,

Class

BH

1,196,370

1,000,000

2.500%, 

12/15/2048,

Ser.

5094,

Class

BC

740,710

Federal

National

Mortgage

Association

-

REMIC

1,311,373

4.500%, 

6/25/2052,

Ser.

2022-43,

Class

MA

1,249,512

784,409

4.000%, 

7/25/2052,

Ser.

2022-37,

Class

PE

737,853

679,307

3.000%, 

12/25/2027,

Ser.

2012-137,

Class

AI

j

25,452

2,130,711

5.250%, 

7/25/2039,

Ser.

2022-72,

Class

CB

2,096,192

1,232,629

4.500%, 

1/25/2046,

Ser.

2022-68,

Class

BA

1,191,471

Flagstar

Mortgage

Trust

557,413

2.500%, 

9/25/2041,

Ser.

2021-9INV,

Class

A1

b,h

462,713

GCAT

Trust

785,146

1.855%, 

8/25/2066,

Ser.

2021-NQM6,

Class

A1

b,h

659,949

GS

Mortgage-Backed

Securities

Trust

990,424

3.000%, 

6/25/2052,

Ser.

2022-GR1,

Class

A2

b,h

781,507

J.P.

Morgan

Mortgage

Trust

1,085,546

2.500%, 

2/25/2052,

Ser.

2021-INV7,

Class

A2A

b,h

819,121

749,876

2.774%, 

5/25/2052,

Ser.

2021-LTV2,

Class

A2

b,h

583,208

LHOME

Mortgage

Trust

232,004

2.090%, 

2/25/2026,

Ser.

2021-RTL1,

Class

A1

b,h

230,833

305,363

2.090%, 

6/25/2026,

Ser.

2021-RTL2,

Class

A1

h,i

300,394

Mello

Mortgage

Capital

Acceptance

1,062,477

2.500%, 

8/25/2051,

Ser.

2021-INV2,

Class

A3

b,h

801,713

Merrill

Lynch

Alternative

Note

Asset

Trust

146,329

6.000%, 

3/25/2037,

Ser.

2007-F1,

Class

2A1

55,527

New

Residential

Mortgage

Loan

Trust

2,092,684

2.500%, 

9/25/2051,

Ser.

2021-INV2,

Class

A2

b,h

1,579,077

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

260

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Collateralized

Mortgage

Obligations

(0.4%)

-

continued

New

York

Mortgage

Trust

$

824,117

2.239%, 

5/25/2026,

Ser.

2021-BPL1,

Class

A1

h,i

$

816,424

Onslow

Bay

Financial,

LLC

525,000

3.688%, 

1/25/2062,

Ser.

2022-NQM3,

Class

A1B

b,h

428,134

Palisades

Mortgage

Loan

Trust

1,600,000

2.857%, 

6/25/2026,

Ser.

2021-RTL1,

Class

A1

h,i

1,552,054

Residential

Accredit

Loans,

Inc.

Trust

229,976

6.000%, 

8/25/2035,

Ser.

2005-QS10,

Class

2A

189,814

Residential

Funding

Mortgage

Security

I

Trust

56,974

6.000%, 

7/25/2037,

Ser.

2007-S7,

Class

A20

42,376

ROC

Securities

Trust

Series

975,000

2.487%, 

8/25/2026,

Ser.

2021-RTL1,

Class

A1

b,h

948,679

Sequoia

Mortgage

Trust

162,205

3.482%, 

9/20/2046,

Ser.

2007-1,

Class

4A1

b

110,199

Toorak

Mortgage

Corporation,

Ltd.

762,933

2.240%, 

6/25/2024,

Ser.

2021-1,

Class

A1

h,i

741,838

TRK

Trust

778,532

1.966%, 

11/25/2056,

Ser.

2021-INV2,

Class

A1

b,h

628,749

Vericrest

Opportunity

Loan

Transferee

501,577

2.116%, 

3/27/2051,

Ser.

2021-NPL5,

Class

A1

h,i

474,640

Verus

Securitization

Trust

436,867

2.286%, 

11/25/2066,

Ser.

2021-8,

Class

A2

b,h

352,572

Total

26,839,368

Commercial

Mortgage-Backed

Securities

(0.5%)

BANK

2022-BNK39

16,445,343

0.533%, 

2/15/2055,

Ser.

2022-BNK39,

Class

XA

b,j

440,872

BANK5

2023-5YR2

800,000

7.379%, 

6/15/2028,

Ser.

2023-5YR2,

Class

AS

b

809,859

BBCMS

Mortgage

Trust

8,088,720

0.839%, 

2/15/2055,

Ser.

2022-C14,

Class

XA

b,j

321,407

850,000

5.451%, 

4/15/2056,

Ser.

2023-C19,

Class

A5

822,558

6,985,151

1.325%, 

9/15/2055,

Ser.

2022-C17,

Class

XA

b,j

526,946

6,858,174

1.949%, 

10/15/2053,

Ser.

2020-C8,

Class

XA

b,j

589,761

Benchmark

Mortgage

Trust

1,170,000

2.669%, 

12/15/2054,

Ser.

2021-B31,

Class

A5

923,031

BFLD

Trust

400,000

7.147%, 

(TSFR1M

+

1.814%),

10/15/2035,

Ser.

2020-EYP,

Class

B

b,h

235,505

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Commercial

Mortgage-Backed

Securities

(0.5%)

-

continued

Federal

Home

Loan

Mortgage

Corporation

Multifamily

Structured

Pass

Through

Certificates

$

2,750,000

3.000%, 

6/25/2032,

Ser.

K147,

Class

A2

b,k

$

2,318,021

1,750,000

3.500%, 

7/25/2032,

Ser.

K148,

Class

A2

b,k

1,533,943

3,100,000

3.530%, 

8/25/2032,

Ser.

K149,

Class

A2

k

2,719,840

500,000

3.710%, 

9/25/2032,

Ser.

K-150,

Class

A2

b,k

444,428

2,800,000

3.800%, 

10/25/2032,

Ser.

K-151,

Class

A2

b,k

2,504,302

2,900,000

3.780%, 

11/25/2032,

Ser.

K-152,

Class

A2

b,k

2,589,326

2,750,000

3.820%, 

12/25/2032,

Ser.

K-153,

Class

A2

b,k

2,459,766

775,000

4.350%, 

1/25/2033,

Ser.

K-154,

Class

A2

b,k

722,311

3,000,000

4.200%, 

5/25/2033,

Ser.

K-157,

Class

A2

k

2,759,212

Federal

Home

Loan

Mortgage

Corporation

Multifamily

WI

Certificates

1,650,000

4.500%, 

11/25/2033,

Ser.

K159,

Class

A2

1,552,385

2,200,000

4.500%, 

12/25/2033,

Ser.

K160,

Class

A2

2,060,405

MIRA

Trust

1,000,000

6.755%, 

6/10/2038,

Ser.

2023-MILE,

Class

A

h

979,410

Morgan

Stanley

Capital

I

Trust

7,121,356

1.960%, 

7/15/2053,

Ser.

2020-HR8,

Class

XA

b,j

648,536

MSWF

Commercial

Mortgage

Trust

680,000

5.752%, 

5/15/2033,

Ser.

2023-1,

Class

A5

669,756

SCOTT

Trust

1,150,000

5.910%, 

3/15/2040,

Ser.

2023-SFS,

Class

A

h

1,114,688

Total

29,746,268

Communications

Services

(0.3%)

Activision

Blizzard,

Inc.

449,000

2.500%, 

9/15/2050

267,376

Allen

Media,

LLC/Allen

Media

Co-

Issuer,

Inc.

146,000

10.500%, 

2/15/2028

h

83,508

Altice

Financing

SA

95,000

5.750%, 

8/15/2029

h

77,856

Altice

France

SA/France

110,000

8.125%, 

2/1/2027

h

97,548

94,000

5.125%, 

7/15/2029

h

66,825

182,000

5.500%, 

10/15/2029

h

130,879

AMC

Networks,

Inc.

70,000

5.000%, 

4/1/2024

69,033

230,000

4.250%, 

2/15/2029

141,127

American

Tower

Corporation

130,000

3.375%, 

10/15/2026

121,026

215,000

5.800%, 

11/15/2028

213,382

291,000

2.900%, 

1/15/2030

241,768

136,000

5.650%, 

3/15/2033

130,732

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

261

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Communications

Services

(0.3%)

-

continued

AT&T,

Inc.

$

337,000

3.650%, 

6/1/2051

$

217,296

451,000

3.500%, 

9/15/2053

278,650

222,000

2.300%, 

6/1/2027

196,569

450,000

4.350%, 

3/1/2029

418,780

227,000

5.400%, 

2/15/2034

212,449

459,000

4.900%, 

8/15/2037

397,625

CCO

Holdings,

LLC/CCO

Holdings

Capital

Corporation

220,000

5.500%, 

5/1/2026

h

212,503

290,000

5.125%, 

5/1/2027

h

270,198

116,000

5.000%, 

2/1/2028

h

105,344

18,000

6.375%, 

9/1/2029

h

16,784

103,000

4.250%, 

2/1/2031

h

81,992

445,000

4.750%, 

2/1/2032

h

356,000

155,000

4.250%, 

1/15/2034

h

114,123

Cengage

Learning,

Inc.

7,000

9.500%, 

6/15/2024

h

7,006

Charter

Communications

Operating,

LLC/Charter

Communications

Operating

Capital

Corporation

335,000

4.200%, 

3/15/2028

307,476

650,000

3.500%, 

6/1/2041

411,046

Cimpress

plc

120,000

7.000%, 

6/15/2026

112,309

Clear

Channel

Outdoor

Holdings,

Inc.

36,000

7.500%, 

6/1/2029

f,h

27,527

Clear

Channel

Worldwide

Holdings,

Inc.

284,000

5.125%, 

8/15/2027

h

252,190

Comcast

Corporation

337,000

5.350%, 

5/15/2053

307,277

247,000

2.887%, 

11/1/2051

145,567

281,000

4.250%, 

10/15/2030

258,849

485,000

4.400%, 

8/15/2035

428,379

490,000

4.750%, 

3/1/2044

411,319

Connect

Finco

SARL/Connect

US

Finco,

LLC

92,000

6.750%, 

10/1/2026

h

85,808

CSC

Holdings,

LLC

150,000

5.375%, 

2/1/2028

h

122,117

213,000

6.500%, 

2/1/2029

h

176,457

296,000

4.125%, 

12/1/2030

h

209,483

Deutsche

Telekom

International

Finance

BV

560,000

8.750%, 

6/15/2030

641,448

DIRECTV

Financing,

LLC/DIRECTV

Financing

Co-Obligor,

Inc.

333,000

5.875%, 

8/15/2027

h

294,432

Discovery

Communications,

LLC

500,000

4.900%, 

3/11/2026

488,010

DISH

DBS

Corporation

62,000

5.875%, 

11/15/2024

57,709

78,000

5.250%, 

12/1/2026

h

66,288

62,000

7.375%, 

7/1/2028

39,066

108,000

5.750%, 

12/1/2028

h

83,025

95,000

5.125%, 

6/1/2029

52,666

DISH

Network

Corporation

98,000

11.750%, 

11/15/2027

h

98,732

Frontier

Communications

Holdings,

LLC

214,000

5.875%, 

10/15/2027

h

194,626

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Communications

Services

(0.3%)

-

continued

$

72,000

6.750%, 

5/1/2029

f,h

$

55,395

45,000

8.750%, 

5/15/2030

h

42,726

GCI,

LLC

170,000

4.750%, 

10/15/2028

h

146,625

Gray

Escrow

II,

Inc.

229,000

5.375%, 

11/15/2031

h

149,866

Gray

Television,

Inc.

210,000

4.750%, 

10/15/2030

h

139,119

Hughes

Satellite

Systems

Corporation

120,000

6.625%, 

8/1/2026

102,600

Iliad

Holding

SASU

221,000

6.500%, 

10/15/2026

h

207,632

Lamar

Media

Corporation

97,000

3.625%, 

1/15/2031

78,993

LCPR

Senior

Secured

Financing

DAC

135,000

6.750%, 

10/15/2027

h

123,997

Level

3

Financing,

Inc.

277,000

4.625%, 

9/15/2027

h

199,209

140,000

4.250%, 

7/1/2028

h

87,225

85,000

10.500%, 

5/15/2030

h

85,560

McGraw-Hill

Education,

Inc.

132,000

5.750%, 

8/1/2028

h

113,883

13,000

8.000%, 

8/1/2029

h

11,278

Meta

Platforms,

Inc.

168,000

5.600%, 

5/15/2053

159,005

224,000

4.800%, 

5/15/2030

218,185

449,000

3.850%, 

8/15/2032

398,350

Netflix,

Inc.

130,000

5.875%, 

11/15/2028

130,736

254,000

5.375%, 

11/15/2029

h

247,836

230,000

4.875%, 

6/15/2030

h

217,743

News

Corporation

171,000

3.875%, 

5/15/2029

h

147,060

NTT

Finance

Corporation

393,000

4.372%, 

7/27/2027

h

378,563

Omnicom

Group,

Inc.

224,000

3.600%, 

4/15/2026

212,765

200,000

4.200%, 

6/1/2030

179,137

Outfront

Media

Capital,

LLC/

Outfront

Media

Capital

Corporation

98,000

6.250%, 

6/15/2025

h

96,013

72,000

4.625%, 

3/15/2030

f,h

56,600

Playtika

Holding

Corporation

151,000

4.250%, 

3/15/2029

h

126,085

Radiate

Holdco,

LLC/Radiate

Finance,

Inc.

120,000

6.500%, 

9/15/2028

h

63,000

Scripps

Escrow

II,

Inc.

68,000

3.875%, 

1/15/2029

h

51,139

Sirius

XM

Radio,

Inc.

285,000

5.000%, 

8/1/2027

h

260,319

115,000

4.000%, 

7/15/2028

h

98,160

Sprint

Capital

Corporation

566,000

8.750%, 

3/15/2032

654,775

Take-Two

Interactive

Software,

Inc.

222,000

4.950%, 

3/28/2028

214,554

TEGNA,

Inc.

254,000

4.625%, 

3/15/2028

219,710

Telecom

Italia

Capital

SA

54,000

6.000%, 

9/30/2034

45,024

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

262

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Communications

Services

(0.3%)

-

continued

Telecom

Italia

SPA/Milano

$

75,000

5.303%, 

5/30/2024

h

$

73,739

Telesat

Canada/Telesat,

LLC

85,000

4.875%, 

6/1/2027

f,h

55,081

45,000

6.500%, 

10/15/2027

h

22,950

T-Mobile

USA,

Inc.

561,000

3.600%, 

11/15/2060

347,038

315,000

4.375%, 

4/15/2040

253,111

United

States

Cellular

Corporation

150,000

6.700%, 

12/15/2033

145,875

Uniti

Group,

LP/Uniti

Group

Finance,

Inc./CSL

Capital,

LLC

230,000

4.750%, 

4/15/2028

h

187,814

Univision

Communications,

Inc.

185,000

6.625%, 

6/1/2027

h

172,295

Verizon

Communications,

Inc.

337,000

3.000%, 

11/20/2060

182,469

725,000

2.650%, 

11/20/2040

458,938

492,000

3.400%, 

3/22/2041

348,799

VTR

Finance

NV

150,000

6.375%, 

7/15/2028

h

55,985

VZ

Secured

Financing

BV

243,000

5.000%, 

1/15/2032

h

190,890

Warnermedia

Holdings,

Inc.

394,000

5.141%, 

3/15/2052

292,758

338,000

4.054%, 

3/15/2029

301,145

338,000

5.050%, 

3/15/2042

261,405

YPSO

Finance

BIS

SA

76,000

10.500%, 

5/15/2027

h

47,400

Total

18,914,744

Consumer

Cyclical

(0.3%)

1011778

B.C.,

ULC/New

Red

Finance,

Inc.

250,000

4.375%, 

1/15/2028

h

225,337

Adient

Global

Holdings,

Ltd.

95,000

4.875%, 

8/15/2026

h

89,598

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation

85,000

6.625%, 

7/15/2026

h

80,541

105,000

6.000%, 

6/1/2029

h

78,276

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation/

Atlas

Luxco

4

SARL

245,000

4.625%, 

6/1/2028

h

204,173

Allison

Transmission,

Inc.

97,000

3.750%, 

1/30/2031

h

78,415

Amazon.com,

Inc.

286,000

3.875%, 

8/22/2037

244,140

American

Axle

&

Manufacturing,

Inc.

360,000

6.500%, 

4/1/2027

341,795

Arko

Corporation

109,000

5.125%, 

11/15/2029

h

87,913

Ashton

Woods

USA,

LLC/Ashton

Woods

Finance

Company

140,000

4.625%, 

8/1/2029

h

118,141

60,000

4.625%, 

4/1/2030

h

49,116

Boyd

Gaming

Corporation

155,000

4.750%, 

6/15/2031

h

131,901

Boyne

USA,

Inc.

66,000

4.750%, 

5/15/2029

h

57,727

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Consumer

Cyclical

(0.3%)

-

continued

Brookfield

Residential

Properties,

Inc./Brookfield

Residential

US,

LLC

$

160,000

6.250%, 

9/15/2027

h

$

144,051

Caesars

Entertainment,

Inc.

288,000

6.250%, 

7/1/2025

h

284,058

50,000

8.125%, 

7/1/2027

h

50,238

175,000

4.625%, 

10/15/2029

h

148,236

Carnival

Corporation

80,000

7.625%, 

3/1/2026

h

77,823

332,000

5.750%, 

3/1/2027

h

300,534

70,000

4.000%, 

8/1/2028

h

60,695

Cedar

Fair,

LP

169,000

5.250%, 

7/15/2029

146,878

Churchill

Downs,

Inc.

140,000

4.750%, 

1/15/2028

h

126,286

71,000

6.750%, 

5/1/2031

h

67,095

Cinemark

USA,

Inc.

201,000

5.875%, 

3/15/2026

f,h

192,984

Clarios

Global,

LP/Clarios

US

Finance

Company,

Inc.

110,000

8.500%, 

5/15/2027

f,h

109,684

178,000

6.750%, 

5/15/2028

h

173,773

D.R.

Horton,

Inc.

72,000

2.600%, 

10/15/2025

67,370

Daimler

Trucks

Finance

North

America,

LLC

390,000

2.000%, 

12/14/2026

h

348,420

Expedia

Group,

Inc.

587,000

3.250%, 

2/15/2030

496,487

Ford

Motor

Company

312,000

3.250%, 

2/12/2032

240,447

156,000

6.100%, 

8/19/2032

f

146,938

Ford

Motor

Credit

Company,

LLC

425,000

2.300%, 

2/10/2025

398,636

420,000

4.134%, 

8/4/2025

398,195

275,000

2.700%, 

8/10/2026

245,401

200,000

7.350%, 

3/6/2030

202,536

Forestar

Group,

Inc.

145,000

3.850%, 

5/15/2026

h

131,615

General

Motors

Company

325,000

6.125%, 

10/1/2025

324,719

450,000

6.800%, 

10/1/2027

459,231

General

Motors

Financial

Company,

Inc.

230,000

1.500%, 

6/10/2026

203,228

GLP

Capital,

LP

467,000

5.750%, 

6/1/2028

447,760

Goodyear

Tire

&

Rubber

Company

110,000

5.000%, 

7/15/2029

94,745

Guitar

Center

Escrow

Issuer

II,

Inc.

67,000

8.500%, 

1/15/2026

f,h

58,190

Hanesbrands,

Inc.

144,000

4.875%, 

5/15/2026

f,h

132,014

Hilton

Domestic

Operating

Company,

Inc.

223,000

4.875%, 

1/15/2030

202,947

71,000

3.625%, 

2/15/2032

h

57,240

Hilton

Grand

Vacations

Borrower

Escrow,

LLC/Hilton

Grand

Vacations

Borrower

Escrow,

Inc.

115,000

5.000%, 

6/1/2029

h

99,756

Home

Depot,

Inc.

275,000

5.400%, 

9/15/2040

263,234

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

263

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Consumer

Cyclical

(0.3%)

-

continued

$

336,000

4.250%, 

4/1/2046

$

269,641

315,000

3.900%, 

6/15/2047

240,492

Hyundai

Capital

America

475,000

1.800%, 

1/10/2028

h

397,943

Hyundai

Capital

Services,

Inc.

225,000

2.125%, 

4/24/2025

h

211,688

International

Game

Technology

plc

200,000

5.250%, 

1/15/2029

h

184,302

Jacobs

Entertainment,

Inc.

97,000

6.750%, 

2/15/2029

h

86,088

Jaguar

Land

Rover

Automotive

plc

187,000

5.500%, 

7/15/2029

h

159,884

KB

Home

195,000

4.800%, 

11/15/2029

171,600

Kia

Corporation

180,000

2.375%, 

2/14/2025

h

171,676

Kohl's

Corporation

215,000

4.625%, 

5/1/2031

144,489

360,000

5.550%, 

7/17/2045

202,453

L

Brands,

Inc.

260,000

6.625%, 

10/1/2030

h

243,753

80,000

6.875%, 

11/1/2035

71,447

Lennar

Corporation

388,000

4.750%, 

5/30/2025

379,576

Light

&

Wonder

International,

Inc.

200,000

7.250%, 

11/15/2029

h

196,000

Lowe's

Companies,

Inc.

224,000

5.625%, 

4/15/2053

203,597

548,000

2.625%, 

4/1/2031

443,275

Macy's

Retail

Holdings,

LLC

155,000

5.875%, 

4/1/2029

f,h

135,716

Marriott

International,

Inc./MD

421,000

4.625%, 

6/15/2030

387,808

Mattamy

Group

Corporation

133,000

5.250%, 

12/15/2027

h

121,380

McDonald's

Corporation

325,000

4.450%, 

3/1/2047

264,725

Michaels

Companies,

Inc.

115,000

5.250%, 

5/1/2028

f,h

91,782

NCL

Corporation,

Ltd.

66,000

3.625%, 

12/15/2024

h

63,381

48,000

5.875%, 

3/15/2026

h

44,316

120,000

5.875%, 

2/15/2027

h

114,116

Nissan

Motor

Acceptance

Company,

LLC

480,000

1.125%, 

9/16/2024

h

455,633

Nissan

Motor

Company,

Ltd.

62,000

3.522%, 

9/17/2025

h

58,556

65,000

4.345%, 

9/17/2027

h

59,332

80,000

4.810%, 

9/17/2030

h

69,000

Nordstrom,

Inc.

57,000

4.375%, 

4/1/2030

f

43,850

81,000

4.250%, 

8/1/2031

f

58,743

PENN

Entertainment,

Inc.

160,000

4.125%, 

7/1/2029

f,h

130,750

PetSmart,

Inc./PetSmart

Finance

Corporation

210,000

4.750%, 

2/15/2028

h

183,842

130,000

7.750%, 

2/15/2029

h

121,146

Prime

Security

Services

Borrower,

LLC/Prime

Finance,

Inc.

299,000

5.750%, 

4/15/2026

h

290,080

132,000

6.250%, 

1/15/2028

f,h

122,254

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Consumer

Cyclical

(0.3%)

-

continued

Realogy

Group,

LLC/Realogy

Group

Co-Issuer

Corporation

$

210,000

5.750%, 

1/15/2029

h

$

151,820

Royal

Caribbean

Cruises,

Ltd.

26,000

11.500%, 

6/1/2025

h

27,446

262,000

4.250%, 

7/1/2026

h

240,226

127,000

9.250%, 

1/15/2029

h

134,168

57,000

7.250%, 

1/15/2030

h

56,492

Scientific

Games

Holdings,

LP/

Scientific

Games

US

FinCo,

Inc.

40,000

6.625%, 

3/1/2030

h

34,500

SeaWorld

Parks

and

Entertainment,

Inc.

108,000

5.250%, 

8/15/2029

h

94,867

Six

Flags

Theme

Parks,

Inc.

55,000

7.000%, 

7/1/2025

h

54,861

Staples,

Inc.

137,000

7.500%, 

4/15/2026

h

112,661

86,000

10.750%, 

4/15/2027

f,h

50,486

Starbucks

Corporation

281,000

4.750%, 

2/15/2026

276,865

Station

Casinos,

LLC

122,000

4.625%, 

12/1/2031

h

97,586

Target

Corporation

337,000

2.950%, 

1/15/2052

205,587

Tenneco,

Inc.

120,000

8.000%, 

11/17/2028

h

97,650

Toyota

Motor

Credit

Corporation

249,000

4.700%, 

1/12/2033

235,292

Tripadvisor,

Inc.

37,000

7.000%, 

7/15/2025

h

36,930

Uber

Technologies,

Inc.

120,000

6.250%, 

1/15/2028

h

117,344

VICI

Properties,

LP/VICI

Note

Company,

Inc.

583,000

4.625%, 

6/15/2025

h

562,997

267,000

5.750%, 

2/1/2027

h

258,474

182,000

3.750%, 

2/15/2027

h

165,149

Viking

Cruises,

Ltd.

232,000

5.875%, 

9/15/2027

h

211,746

Volkswagen

Group

of

America

Finance,

LLC

283,000

4.350%, 

6/8/2027

h

269,301

Wabash

National

Corporation

175,000

4.500%, 

10/15/2028

h

147,413

Walmart,

Inc.

336,000

4.500%, 

9/9/2052

288,625

Wyndham

Hotels

&

Resorts,

Inc.

90,000

4.375%, 

8/15/2028

h

80,836

Yum!

Brands,

Inc.

210,000

4.750%, 

1/15/2030

h

188,626

ZF

North

America

Capital,

Inc.

96,000

7.125%, 

4/14/2030

h

94,059

Total

19,574,838

Consumer

Non-Cyclical

(0.4%)

1375209

B.C.,

Ltd.

120,000

9.000%, 

1/30/2028

h

118,617

Abbott

Laboratories

591,000

4.750%, 

11/30/2036

561,477

AbbVie,

Inc.

150,000

2.950%, 

11/21/2026

139,202

538,000

4.300%, 

5/14/2036

471,885

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

264

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Consumer

Non-Cyclical

(0.4%)

-

continued

$

225,000

4.850%, 

6/15/2044

$

195,238

400,000

4.875%, 

11/14/2048

349,555

AdaptHealth,

LLC

218,000

4.625%, 

8/1/2029

h

167,316

Albertsons

Companies,

Inc./

Safeway,

Inc./New

Albertsons,

LP/Albertsons,

LLC

226,000

4.625%, 

1/15/2027

h

213,393

264,000

3.500%, 

3/15/2029

h

225,083

Amgen,

Inc.

315,000

4.200%, 

2/22/2052

235,921

335,000

5.250%, 

3/2/2030

327,291

335,000

5.600%, 

3/2/2043

311,444

Anheuser-Busch

Companies,

LLC/Anheuser-Busch

InBev

Worldwide,

Inc.

516,000

4.700%, 

2/1/2036

472,933

Anheuser-Busch

InBev

Worldwide,

Inc.

633,000

4.375%, 

4/15/2038

548,765

336,000

5.550%, 

1/23/2049

321,818

Archer-Daniels-Midland

Company

393,000

2.700%, 

9/15/2051

235,731

AstraZeneca

plc

580,000

3.000%, 

5/28/2051

379,197

B&G

Foods,

Inc.

130,000

5.250%, 

4/1/2025

127,572

73,000

5.250%, 

9/15/2027

61,135

96,000

8.000%, 

9/15/2028

h

96,131

BAT

Capital

Corporation

112,000

7.750%, 

10/19/2032

118,304

215,000

7.079%, 

8/2/2043

206,233

Bausch

&

Lomb

Escrow

Corporation

36,000

8.375%, 

10/1/2028

h

36,107

Bausch

Health

Companies,

Inc.

66,000

5.500%, 

11/1/2025

f,h

58,450

244,000

4.875%, 

6/1/2028

h

138,759

165,000

11.000%, 

9/30/2028

h

111,944

Baxter

International,

Inc.

325,000

3.132%, 

12/1/2051

f

193,393

Becton,

Dickinson

and

Company

157,000

3.794%, 

5/20/2050

113,117

375,000

3.700%, 

6/6/2027

351,427

BellRing

Brands,

Inc.

101,000

7.000%, 

3/15/2030

h

99,451

Bristol-Myers

Squibb

Company

556,000

3.550%, 

3/15/2042

417,380

Cargill,

Inc.

329,000

3.125%, 

5/25/2051

h

210,939

Catalent

Pharma

Solutions,

Inc.

121,000

3.125%, 

2/15/2029

f,h

99,244

Central

Garden

&

Pet

Company

220,000

4.125%, 

10/15/2030

183,417

Cheplapharm

Arzneimittel

GmbH

20,000

5.500%, 

1/15/2028

h

18,147

Chobani,

LLC/Chobani

Finance

Corporation,

Inc.

174,000

4.625%, 

11/15/2028

h

153,465

CHS/Community

Health

Systems,

Inc.

131,000

5.625%, 

3/15/2027

h

112,361

42,000

8.000%, 

12/15/2027

f,h

39,165

178,000

6.000%, 

1/15/2029

h

143,749

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Consumer

Non-Cyclical

(0.4%)

-

continued

$

74,000

5.250%, 

5/15/2030

h

$

56,253

77,000

4.750%, 

2/15/2031

h

54,494

Constellation

Brands,

Inc.

333,000

3.600%, 

2/15/2028

306,311

250,000

2.875%, 

5/1/2030

209,814

Coty,

Inc./HFC

Prestige

Products,

Inc./HFC

Prestige

International

US,

LLC

214,000

4.750%, 

1/15/2029

h

192,979

120,000

6.625%, 

7/15/2030

h

117,161

CVS

Health

Corporation

505,000

5.625%, 

2/21/2053

453,892

252,000

5.125%, 

2/21/2030

242,380

465,000

4.875%, 

7/20/2035

415,763

Edgewell

Personal

Care

Company

120,000

5.500%, 

6/1/2028

h

110,850

Eli

Lilly

&

Company

168,000

4.950%, 

2/27/2063

152,422

Embecta

Corporation

56,000

6.750%, 

2/15/2030

h

45,780

Encompass

Health

Corporation

240,000

4.500%, 

2/1/2028

f

218,668

Energizer

Holdings,

Inc.

190,000

4.750%, 

6/15/2028

h

164,099

Fortrea

Holdings,

Inc.

93,000

7.500%, 

7/1/2030

h

90,490

General

Mills,

Inc.

90,000

4.950%, 

3/29/2033

84,328

Grifols

SA

168,000

4.750%, 

10/15/2028

h

143,238

HCA,

Inc.

401,000

3.500%, 

9/1/2030

339,256

HLF

Financing

SARL,

LLC/

Herbalife

International,

Inc.

293,000

4.875%, 

6/1/2029

h

208,030

Imperial

Brands

Finance

plc

550,000

3.875%, 

7/26/2029

h

484,219

Jazz

Securities

DAC

97,000

4.375%, 

1/15/2029

h

84,573

JBS

USA

LUX

SA/JBS

USA

Food

Company/JBS

Luxembourg

SARL

219,000

6.750%, 

3/15/2034

h

213,085

JBS

USA

LUX

SA/JBS

USA

Food

Company/JBS

USA

Finance,

Inc.

113,000

4.375%, 

2/2/2052

75,097

227,000

5.500%, 

1/15/2030

211,913

373,000

3.000%, 

5/15/2032

281,384

Kenvue,

Inc.

449,000

5.350%, 

3/22/2026

h

447,934

Kimberly-Clark

Corporation

300,000

3.900%, 

5/4/2047

230,265

Kraft

Heinz

Foods

Company

241,000

3.875%, 

5/15/2027

227,040

80,000

5.200%, 

7/15/2045

69,897

360,000

4.375%, 

6/1/2046

280,527

Lamb

Weston

Holdings,

Inc.

102,000

4.125%, 

1/31/2030

h

87,225

Legacy

LifePoint

Health,

LLC

72,000

4.375%, 

2/15/2027

h

61,920

LifePoint

Health,

Inc.

73,000

11.000%, 

10/15/2030

h

73,000

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

265

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Consumer

Non-Cyclical

(0.4%)

-

continued

Mattel,

Inc.

$

227,000

3.375%, 

4/1/2026

h

$

209,907

282,000

5.450%, 

11/1/2041

232,601

Medtronic,

Inc.

338,000

4.375%, 

3/15/2035

306,158

ModivCare

Escrow

Issuer,

Inc.

60,000

5.000%, 

10/1/2029

h

43,050

ModivCare,

Inc.

48,000

5.875%, 

11/15/2025

h

45,627

Mozart

Debt

Merger

Sub,

Inc.

151,000

3.875%, 

4/1/2029

h

127,659

119,000

5.250%, 

10/1/2029

f,h

102,851

Newell

Brands,

Inc.

360,000

4.700%, 

4/1/2026

339,261

Organon

&

Company/Organon

Foreign

Debt

Co-Issuer

BV

167,000

4.125%, 

4/30/2028

h

145,108

99,000

5.125%, 

4/30/2031

h

79,334

Owens

&

Minor,

Inc.

163,000

6.625%, 

4/1/2030

f,h

144,676

PepsiCo,

Inc.

215,000

4.200%, 

7/18/2052

177,632

Perrigo

Finance

Unlimited

Company

175,000

4.375%, 

3/15/2026

163,629

Pfizer

Investment

Enterprises

Pte,

Ltd.

504,000

5.300%, 

5/19/2053

468,293

168,000

4.750%, 

5/19/2033

158,807

217,000

5.110%, 

5/19/2043

199,281

Philip

Morris

International,

Inc.

337,000

4.875%, 

2/13/2026

331,467

211,000

5.125%, 

11/17/2027

206,609

218,000

5.500%, 

9/7/2030

211,981

336,000

5.375%, 

2/15/2033

318,473

Post

Holdings,

Inc.

140,000

4.500%, 

9/15/2031

h

116,521

Primo

Water

Holdings,

Inc.

144,000

4.375%, 

4/30/2029

h

123,120

RegionalCare

Hospital

Partners

Holdings,

Inc./LifePoint

Health,

Inc.

72,000

9.750%, 

12/1/2026

h

69,704

Reynolds

American,

Inc.

512,000

5.700%, 

8/15/2035

458,084

Roche

Holdings,

Inc.

336,000

4.000%, 

11/28/2044

h

272,362

Scotts

Miracle-Gro

Company

67,000

4.500%, 

10/15/2029

54,774

SEG

Holding,

LLC

250,000

5.625%, 

10/15/2028

h

250,625

Simmons

Foods,

Inc.

139,000

4.625%, 

3/1/2029

h

114,025

Spectrum

Brands,

Inc.

100,000

5.000%, 

10/1/2029

h

90,610

120,000

5.500%, 

7/15/2030

h

108,804

115,000

3.875%, 

3/15/2031

h

93,302

Star

Parent,

Inc.

120,000

9.000%, 

10/1/2030

h

121,260

Sysco

Corporation

338,000

6.600%, 

4/1/2040

345,395

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Consumer

Non-Cyclical

(0.4%)

-

continued

Takeda

Pharmaceutical

Company,

Ltd.

$

335,000

3.175%, 

7/9/2050

$

211,987

Teleflex,

Inc.

155,000

4.250%, 

6/1/2028

h

138,655

Tenet

Healthcare

Corporation

440,000

5.125%, 

11/1/2027

409,479

110,000

6.125%, 

10/1/2028

103,262

144,000

6.750%, 

5/15/2031

h

138,884

Teva

Pharmaceutical

Finance

Netherlands

III

BV

131,000

3.150%, 

10/1/2026

116,756

TreeHouse

Foods,

Inc.

190,000

4.000%, 

9/1/2028

f

154,137

Wyeth,

LLC

225,000

6.500%, 

2/1/2034

241,984

Zoetis,

Inc.

468,000

4.700%, 

2/1/2043

403,391

Total

22,948,568

Energy

(0.3%)

Antero

Midstream

Partners,

LP/

Antero

Midstream

Finance

Corporation

46,000

5.375%, 

6/15/2029

h

42,117

Antero

Resources

Corporation

64,000

5.375%, 

3/1/2030

h

58,923

Archrock

Partners,

LP/Archrock

Partners

Finance

Corporation

190,000

6.250%, 

4/1/2028

h

176,895

Baytex

Energy

Corporation

119,000

8.500%, 

4/30/2030

h

120,407

BP

Capital

Markets

America,

Inc.

627,000

2.939%, 

6/4/2051

382,821

Buckeye

Partners,

LP

155,000

3.950%, 

12/1/2026

139,188

Callon

Petroleum

Company

111,000

7.500%, 

6/15/2030

f,h

107,623

Canadian

Natural

Resources,

Ltd.

265,000

2.950%, 

7/15/2030

219,789

Cheniere

Energy

Partners,

LP

897,000

4.500%, 

10/1/2029

812,209

Chesapeake

Energy

Corporation

91,000

6.750%, 

4/15/2029

h

89,053

Chord

Energy

Corporation

90,000

6.375%, 

6/1/2026

h

88,247

Civitas

Resources,

Inc.

54,000

8.375%, 

7/1/2028

h

54,945

82,000

8.750%, 

7/1/2031

h

83,760

CNX

Resources

Corporation

69,000

6.000%, 

1/15/2029

h

64,476

Columbia

Pipelines

Holding

Company,

LLC

219,000

6.042%, 

8/15/2028

h

217,890

Columbia

Pipelines

Operating

Company,

LLC

55,000

5.927%, 

8/15/2030

h

54,292

Comstock

Resources,

Inc.

135,000

5.875%, 

1/15/2030

h

116,860

Continental

Resources,

Inc.

394,000

2.268%, 

11/15/2026

h

349,064

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

266

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Energy

(0.3%)

-

continued

CQP

Holdco,

LP/BIP-V

Chinnok

Holdco,

LLC

$

133,000

5.500%, 

6/15/2031

h

$

117,884

Crescent

Energy

Finance,

LLC

132,000

9.250%, 

2/15/2028

h

134,765

CrownRock,

LP/CrownRock

Finance,

Inc.

108,000

5.625%, 

10/15/2025

h

106,267

Diamond

Foreign

Asset

Company/

Diamond

Finance,

LLC

48,000

8.500%, 

10/1/2030

h

48,007

DT

Midstream,

Inc.

98,000

4.125%, 

6/15/2029

h

84,774

70,000

4.375%, 

6/15/2031

h

58,864

Enbridge,

Inc.

317,000

2.500%, 

2/14/2025

302,052

Enerflex,

Ltd.

97,000

9.000%, 

10/15/2027

h

95,787

Energy

Transfer,

LP

261,000

4.000%, 

10/1/2027

242,351

265,000

4.900%, 

3/15/2035

233,062

250,000

5.150%, 

2/1/2043

198,672

400,000

6.000%, 

6/15/2048

355,014

EnLink

Midstream

Partners,

LP

222,000

4.850%, 

7/15/2026

209,004

Enterprise

Products

Operating,

LLC

300,000

3.300%, 

2/15/2053

195,212

EQM

Midstream

Partners,

LP

329,000

4.750%, 

1/15/2031

h

283,183

EQT

Corporation

187,000

6.125%, 

2/1/2025

186,355

337,000

3.900%, 

10/1/2027

311,716

Exxon

Mobil

Corporation

525,000

3.452%, 

4/15/2051

367,328

Ferrellgas,

LP/Ferrellgas

Finance

Corporation

120,000

5.375%, 

4/1/2026

h

112,475

Genesis

Energy

LP/Genesis

Energy

Finance

Corporation

193,000

8.875%, 

4/15/2030

188,443

Halliburton

Company

300,000

4.850%, 

11/15/2035

269,789

225,000

5.000%, 

11/15/2045

190,729

Harvest

Midstream,

LP

256,000

7.500%, 

9/1/2028

h

247,458

Hess

Midstream

Operations,

LP

118,000

5.625%, 

2/15/2026

h

114,018

Hilcorp

Energy

I,

LP/Hilcorp

Finance

Company

230,000

5.750%, 

2/1/2029

h

207,689

112,000

6.250%, 

4/15/2032

h

99,585

Howard

Midstream

Energy

Partners,

LLC

178,000

6.750%, 

1/15/2027

h

169,100

ITT

Holdings,

LLC

150,000

6.500%, 

8/1/2029

h

127,144

Laredo

Petroleum,

Inc.

206,000

7.750%, 

7/31/2029

h

191,647

Magellan

Midstream

Partners,

LP

177,000

5.000%, 

3/1/2026

173,722

MEG

Energy

Corporation

156,000

5.875%, 

2/1/2029

h

145,685

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Energy

(0.3%)

-

continued

MPLX,

LP

$

287,000

4.875%, 

6/1/2025

$

281,508

449,000

4.950%, 

9/1/2032

408,909

82,000

5.000%, 

3/1/2033

74,721

Murphy

Oil

Corporation

110,000

5.875%, 

12/1/2027

106,744

Nabors

Industries,

Ltd.

205,000

7.250%, 

1/15/2026

h

198,081

National

Fuel

Gas

Company

404,000

5.500%, 

1/15/2026

397,320

New

Fortress

Energy,

Inc.

80,000

6.750%, 

9/15/2025

h

76,368

Noble

Finance

II,

LLC

119,000

8.000%, 

4/15/2030

h

120,556

Northern

Oil

and

Gas,

Inc.

120,000

8.750%, 

6/15/2031

h

120,900

Northriver

Midstream

Finance,

LP

58,000

5.625%, 

2/15/2026

h

55,271

NuStar

Logistics,

LP

106,000

5.750%, 

10/1/2025

103,085

Occidental

Petroleum

Corporation

541,000

7.875%, 

9/15/2031

585,417

Ovintiv,

Inc.

112,000

5.650%, 

5/15/2025

111,359

390,000

5.375%, 

1/1/2026

384,527

PBF

Holding

Company,

LLC/PBF

Finance

Corporation

96,000

6.000%, 

2/15/2028

90,544

Permian

Resources

Operating,

LLC

108,000

7.000%, 

1/15/2032

h

106,511

Phillips

66

Company

251,000

4.950%, 

12/1/2027

245,973

Precision

Drilling

Corporation

135,000

6.875%, 

1/15/2029

h

127,872

Range

Resources

Corporation

97,000

4.750%, 

2/15/2030

h

86,088

Rockcliff

Energy

II,

LLC

127,000

5.500%, 

10/15/2029

h

114,296

Rockies

Express

Pipeline,

LLC

36,000

4.950%, 

7/15/2029

h

32,065

SM

Energy

Company

40,000

6.625%, 

1/15/2027

39,200

105,000

6.500%, 

7/15/2028

100,800

Southwestern

Energy

Company

132,000

5.375%, 

3/15/2030

120,259

83,000

4.750%, 

2/1/2032

71,238

Suburban

Propane

Partners,

LP/

Suburban

Energy

Finance

Corporation

54,000

5.875%, 

3/1/2027

51,570

Suncor

Energy,

Inc.

403,000

7.150%, 

2/1/2032

423,922

Sunoco,

LP/Sunoco

Finance

Corporation

285,000

5.875%, 

3/15/2028

273,405

Tallgrass

Energy

Partners

LP/

Tallgrass

Energy

Finance

Corporation

217,000

5.500%, 

1/15/2028

h

197,470

Targa

Resources

Corporation

394,000

4.200%, 

2/1/2033

335,013

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

267

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Energy

(0.3%)

-

continued

Teine

Energy,

Ltd.

$

150,000

6.875%, 

4/15/2029

h

$

137,625

Transocean,

Inc.

140,000

11.500%, 

1/30/2027

h

146,825

165,300

8.750%, 

2/15/2030

h

169,019

USA

Compression

Partners,

LP/

USA

Compression

Finance

Corporation

161,000

6.875%, 

4/1/2026

157,706

Valaris,

Ltd.

120,000

8.375%, 

4/30/2030

h

120,090

Venture

Global

Calcasieu

Pass,

LLC

155,000

3.875%, 

8/15/2029

h

130,429

139,000

6.250%, 

1/15/2030

h

132,588

95,000

4.125%, 

8/15/2031

h

77,959

Venture

Global

LNG,

Inc.

244,000

8.375%, 

6/1/2031

h

239,867

Weatherford

International,

Ltd.

172,000

8.625%, 

4/30/2030

h

173,317

Western

Midstream

Operating,

LP

219,000

6.350%, 

1/15/2029

219,452

112,000

6.150%, 

4/1/2033

108,014

Williams

Companies,

Inc.

225,000

5.300%, 

8/15/2052

191,229

500,000

7.500%, 

1/15/2031

531,725

Total

16,923,177

Financials

(0.9%)

Acrisure,

LLC/Acrisure

Finance,

Inc.

42,000

6.000%, 

8/1/2029

h

35,294

AerCap

Ireland

Capital

DAC/

AerCap

Global

Aviation

Trust

243,000

3.500%, 

1/15/2025

234,411

247,000

6.100%, 

1/15/2027

245,791

375,000

3.875%, 

1/23/2028

340,086

250,000

3.400%, 

10/29/2033

193,380

Air

Lease

Corporation

576,000

3.000%, 

2/1/2030

473,756

Aircastle,

Ltd.

300,000

5.250%, 

8/11/2025

h

292,213

Alliant

Holdings

Intermediate,

LLC/

Alliant

Holdings

Co-Issuer,

Inc.

81,000

6.750%, 

10/15/2027

h

75,331

Ally

Financial,

Inc.

285,000

5.750%, 

11/20/2025

276,837

460,000

8.000%, 

11/1/2031

464,432

31,000

6.700%, 

2/14/2033

26,911

American

Homes

4

Rent,

LP

480,000

2.375%, 

7/15/2031

365,966

American

International

Group,

Inc.

453,000

5.125%, 

3/27/2033

421,498

AmWINS

Group,

Inc.

140,000

4.875%, 

6/30/2029

h

122,672

ANZ

Bank

New

Zealand,

Ltd.

225,000

5.548%, 

8/11/2032

b,h

218,467

Aon

Corporation/Aon

Global

Holdings

plc

109,000

5.350%, 

2/28/2033

104,493

Ares

Capital

Corporation

173,000

3.250%, 

7/15/2025

162,052

425,000

3.875%, 

1/15/2026

397,679

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Financials

(0.9%)

-

continued

$

250,000

2.150%, 

7/15/2026

$

219,340

Associated

Banc-Corp

275,000

4.250%, 

1/15/2025

264,460

Australia

&

New

Zealand

Banking

Group,

Ltd.

450,000

2.950%, 

7/22/2030

b,h

417,732

Avolon

Holdings

Funding,

Ltd.

197,000

5.250%, 

5/15/2024

h

195,105

125,000

4.250%, 

4/15/2026

h

117,487

Banco

Santander

Mexico

SA

250,000

5.375%, 

4/17/2025

h

245,714

Banco

Santander

SA

400,000

4.175%, 

3/24/2028

b

369,351

Bank

of

America

Corporation

403,000

5.080%, 

1/20/2027

b

393,913

275,000

1.734%, 

7/22/2027

b

243,694

350,000

3.824%, 

1/20/2028

b

325,024

196,000

5.202%, 

4/25/2029

b

188,808

230,000

2.087%, 

6/14/2029

b

192,541

500,000

2.496%, 

2/13/2031

b

400,719

650,000

1.922%, 

10/24/2031

b

490,382

338,000

2.972%, 

2/4/2033

b

266,532

676,000

4.571%, 

4/27/2033

b

600,175

324,000

5.872%, 

9/15/2034

b

315,311

450,000

3.846%, 

3/8/2037

b

366,009

Bank

of

Nova

Scotia

105,000

4.850%, 

2/1/2030

98,878

Barclays

plc

333,000

6.496%, 

9/13/2027

b

332,117

475,000

4.972%, 

5/16/2029

b

443,736

335,000

5.746%, 

8/9/2033

b

309,160

Berkshire

Hathaway

Finance

Corporation

449,000

2.850%, 

10/15/2050

279,354

Blackstone

Private

Credit

Fund

341,000

2.700%, 

1/15/2025

322,977

Blue

Owl

Capital

Corporation

115,000

4.250%, 

1/15/2026

107,587

Blue

Owl

Credit

Income

Corporation

282,000

4.700%, 

2/8/2027

256,612

Blue

Owl

Technology

Finance

Corporation

115,000

4.750%, 

12/15/2025

h

106,370

BNP

Paribas

SA

564,000

3.132%, 

1/20/2033

b,h

443,127

BPCE

SA

440,000

3.500%, 

10/23/2027

h

397,470

Brookfield

Property

REIT,

Inc./BPR

Cumulus,

LLC/BPR

Nimbus,

LLC/GGSI

Sellco,

LLC

42,000

4.500%, 

4/1/2027

h

35,001

Burford

Capital

Global

Finance,

LLC

145,000

9.250%, 

7/1/2031

h

147,099

Camden

Property

Trust

450,000

3.150%, 

7/1/2029

398,670

Canadian

Imperial

Bank

of

Commerce

336,000

5.001%, 

4/28/2028

322,583

Capital

One

Financial

Corporation

500,000

4.200%, 

10/29/2025

476,773

300,000

2.636%, 

3/3/2026

b

283,130

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

268

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Financials

(0.9%)

-

continued

Castlelake

Aviation

Finance

DAC

$

63,000

5.000%, 

4/15/2027

h

$

57,542

Centene

Corporation

543,000

2.625%, 

8/1/2031

415,885

Charles

Schwab

Corporation

525,000

2.450%, 

3/3/2027

467,640

220,000

6.136%, 

8/24/2034

b

214,006

Chubb

INA

Holdings,

Inc.

220,000

4.350%, 

11/3/2045

180,494

Citigroup,

Inc.

380,000

0.981%, 

5/1/2025

b

367,769

535,000

4.400%, 

6/10/2025

519,129

348,000

3.200%, 

10/21/2026

321,283

520,000

3.668%, 

7/24/2028

b

477,003

236,000

4.125%, 

7/25/2028

214,715

175,000

3.520%, 

10/27/2028

b

158,315

478,000

4.910%, 

5/24/2033

b

434,935

284,000

6.174%, 

5/25/2034

b

271,397

Cooperatieve

Rabobank

UA

447,000

5.564%, 

2/28/2029

b,h

435,662

Corebridge

Financial,

Inc.

225,000

4.400%, 

4/5/2052

164,605

169,000

4.350%, 

4/5/2042

127,788

Credit

Acceptance

Corporation

250,000

5.125%, 

12/31/2024

h

243,494

Credit

Agricole

SA

300,000

6.875%, 

9/23/2024

b,h,l

292,634

Credit

Suisse

Group

AG

350,000

7.250%, 

9/12/2025

b,h,l,m

33,250

Danske

Bank

AS

200,000

0.976%, 

9/10/2025

b,h

189,573

Deutsche

Bank

AG/New

York,

NY

500,000

3.729%, 

1/14/2032

b

372,197

Discover

Bank

475,000

5.974%, 

(USISOA05

+

1.730%),

8/9/2028

b

434,640

Drawbridge

Special

Opportunities

Fund,

LP

250,000

3.875%, 

2/15/2026

h

222,429

Elevance

Health,

Inc.

375,000

3.125%, 

5/15/2050

235,875

300,000

4.625%, 

5/15/2042

251,623

Enact

Holdings,

Inc.

91,000

6.500%, 

8/15/2025

h

89,627

EPR

Properties

190,000

4.950%, 

4/15/2028

168,354

Fifth

Third

Bancorp

177,000

6.339%, 

7/27/2029

b

174,852

First

Horizon

Bank

115,000

5.750%, 

5/1/2030

f

102,934

First

Horizon

National

Corporation

460,000

4.000%, 

5/26/2025

434,321

First-Citizens

Bank

&

Trust

Company

360,000

6.125%, 

3/9/2028

357,570

Five

Corners

Funding

Trust

IV

224,000

5.997%, 

2/15/2053

h

212,179

Fortress

Transportation

and

Infrastructure

Investors,

LLC

112,000

6.500%, 

10/1/2025

h

110,079

60,000

9.750%, 

8/1/2027

h

62,060

43,000

5.500%, 

5/1/2028

h

38,983

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Financials

(0.9%)

-

continued

Freedom

Mortgage

Corporation

$

48,000

12.000%, 

10/1/2028

h

$

48,809

FS

KKR

Capital

Corporation

299,000

4.250%, 

2/14/2025

h

286,291

450,000

3.400%, 

1/15/2026

412,374

GGAM

Finance,

Ltd.

119,000

7.750%, 

5/15/2026

h

117,810

Global

Net

Lease,

Inc./Global

Net

Lease

Operating

Partnership,

LP

227,000

3.750%, 

12/15/2027

h

175,754

Goldman

Sachs

Group,

Inc.

318,000

1.948%, 

10/21/2027

b

280,779

120,000

1.992%, 

1/27/2032

b

89,955

1,015,000

3.102%, 

2/24/2033

b

811,702

440,000

4.750%, 

10/21/2045

370,271

Healthpeak

OP,

LLC

87,000

3.400%, 

2/1/2025

83,975

HSBC

Holdings

plc

240,000

1.162%, 

11/22/2024

b

237,742

750,000

3.803%, 

3/11/2025

b

740,752

400,000

2.999%, 

3/10/2026

b

381,184

425,000

3.900%, 

5/25/2026

402,118

300,000

5.402%, 

8/11/2033

b

276,454

HUB

International,

Ltd.

205,000

5.625%, 

12/1/2029

h

178,505

Icahn

Enterprises,

LP/Icahn

Enterprises

Finance

Corporation

122,000

6.375%, 

12/15/2025

116,054

135,000

5.250%, 

5/15/2027

118,662

Intercontinental

Exchange,

Inc.

200,000

4.950%, 

6/15/2052

173,157

Invitation

Homes

Operating

Partnership,

LP

282,000

2.000%, 

8/15/2031

208,691

J.P.

Morgan

Chase

&

Company

160,000

0.824%, 

6/1/2025

b

154,024

375,000

1.040%, 

2/4/2027

b

333,733

384,000

1.578%, 

4/22/2027

b

342,694

450,000

2.947%, 

2/24/2028

b

408,219

675,000

4.203%, 

7/23/2029

b

625,561

400,000

2.522%, 

4/22/2031

b

324,232

400,000

1.953%, 

2/4/2032

b

303,349

450,000

4.586%, 

4/26/2033

b

405,650

337,000

4.912%, 

7/25/2033

b

310,057

495,000

3.882%, 

7/24/2038

b

395,235

Jefferies

Finance,

LLC/JFIN

Co-

Issuer

Corporation

49,000

5.000%, 

8/15/2028

h

41,258

KeyBank

NA/Cleveland,

OH

188,000

5.000%, 

1/26/2033

158,252

KeyCorp

162,000

3.878%, 

5/23/2025

b

156,166

Kimco

Realty

Corporation

319,000

3.300%, 

2/1/2025

306,887

Lloyds

Banking

Group

plc

335,000

5.871%, 

3/6/2029

b

327,561

LPL

Holdings,

Inc.

180,000

4.000%, 

3/15/2029

h

156,935

Macquarie

Group,

Ltd.

332,000

1.201%, 

10/14/2025

b,h

314,809

Manufacturers

&

Traders

Trust

Company

337,000

4.700%, 

1/27/2028

311,237

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

269

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Financials

(0.9%)

-

continued

Marsh

&

McLennan

Companies,

Inc.

$

83,000

5.450%, 

3/15/2053

$

77,477

215,000

5.400%, 

9/15/2033

209,326

Massachusetts

Mutual

Life

Insurance

Company

475,000

3.200%, 

12/1/2061

*

267,178

Mitsubishi

UFJ

Financial

Group,

Inc.

385,000

0.962%, 

10/11/2025

b

364,046

335,000

5.422%, 

2/22/2029

b

327,876

350,000

2.048%, 

7/17/2030

272,677

Molina

Healthcare,

Inc.

123,000

4.375%, 

6/15/2028

h

110,214

Morgan

Stanley

250,000

2.188%, 

4/28/2026

b

234,848

540,000

4.350%, 

9/8/2026

514,879

463,000

5.050%, 

1/28/2027

b

453,847

720,000

3.591%, 

7/22/2028

b

656,913

223,000

5.164%, 

4/20/2029

b

214,538

620,000

3.622%, 

4/1/2031

b

534,114

223,000

5.250%, 

4/21/2034

b

207,051

394,000

5.297%, 

4/20/2037

b

351,060

360,000

2.802%, 

1/25/2052

b

209,582

MPT

Operating

Partnership,

LP/

MPT

Finance

Corporation

156,000

4.625%, 

8/1/2029

110,489

Nasdaq,

Inc.

335,000

3.250%, 

4/28/2050

209,240

Nationstar

Mortgage

Holdings,

Inc.

121,000

6.000%, 

1/15/2027

h

114,336

NatWest

Group

plc

250,000

4.445%, 

5/8/2030

b

225,647

Necessity

Retail

REIT,

Inc./

American

Finance

Operating

Partner,

LP

142,000

4.500%, 

9/30/2028

h

107,860

New

York

Life

Global

Funding

331,000

4.550%, 

1/28/2033

h

303,446

NFP

Corporation

72,000

6.875%, 

8/15/2028

h

61,681

NNN

REIT,

Inc.

320,000

5.600%, 

10/15/2033

301,515

Office

Properties

Income

Trust

52,000

2.650%, 

6/15/2026

35,374

Omega

Healthcare

Investors,

Inc.

416,000

3.625%, 

10/1/2029

346,784

375,000

3.375%, 

2/1/2031

293,172

OneMain

Finance

Corporation

220,000

6.875%, 

3/15/2025

218,256

234,000

3.875%, 

9/15/2028

187,818

Park

Intermediate

Holdings,

LLC

192,000

4.875%, 

5/15/2029

h

162,422

Pine

Street

Trust

I

337,000

4.572%, 

2/15/2029

h

303,243

PNC

Financial

Services

Group,

Inc.

347,000

5.812%, 

6/12/2026

b

344,231

450,000

4.626%, 

6/6/2033

b

388,200

PRA

Group,

Inc.

117,000

7.375%, 

9/1/2025

h

113,929

97,000

8.375%, 

2/1/2028

h

88,270

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Financials

(0.9%)

-

continued

Principal

Life

Global

Funding

II

$

375,000

1.250%, 

8/16/2026

h

$

328,195

Prologis,

LP

224,000

2.875%, 

11/15/2029

192,121

Prudential

Financial,

Inc.

428,000

5.125%, 

3/1/2052

b

368,570

Radian

Group,

Inc.

145,000

4.875%, 

3/15/2027

135,484

Realty

Income

Corporation

150,000

4.125%, 

10/15/2026

143,684

Regency

Centers,

LP

470,000

4.125%, 

3/15/2028

434,927

RLJ

Lodging

Trust,

LP

61,000

3.750%, 

7/1/2026

h

55,168

128,000

4.000%, 

9/15/2029

h

104,824

Rocket

Mortgage,

LLC/Rocket

Mortgage

Co-Issuer,

Inc.

190,000

3.625%, 

3/1/2029

h

157,080

Royal

Bank

of

Canada

347,000

5.200%, 

7/20/2026

343,214

280,000

5.000%, 

5/2/2033

260,141

Santander

Holdings

USA,

Inc.

111,000

6.499%, 

3/9/2029

b

108,254

Santander

UK

Group

Holdings

plc

460,000

1.673%, 

6/14/2027

b

402,361

Service

Properties

Trust

69,000

4.650%, 

3/15/2024

68,059

39,000

4.350%, 

10/1/2024

37,413

113,000

7.500%, 

9/15/2025

111,015

150,000

5.500%, 

12/15/2027

128,195

Simon

Property

Group,

LP

343,000

3.800%, 

7/15/2050

232,953

SLM

Corporation

60,000

4.200%, 

10/29/2025

56,143

Societe

Generale

SA

354,000

4.750%, 

11/24/2025

h

338,602

Spirit

Realty,

LP

400,000

2.100%, 

3/15/2028

336,688

Standard

Chartered

plc

409,000

1.822%, 

11/23/2025

b,h

386,479

Sumitomo

Mitsui

Financial

Group,

Inc.

336,000

3.010%, 

10/19/2026

309,353

329,000

5.710%, 

1/13/2030

321,900

275,000

1.710%, 

1/12/2031

205,022

Synchrony

Financial

45,000

4.250%, 

8/15/2024

43,947

30,000

7.250%, 

2/2/2033

26,478

Synovus

Bank

250,000

5.625%, 

2/15/2028

226,518

Toronto-Dominion

Bank

337,000

5.156%, 

1/10/2028

328,909

293,000

5.523%, 

7/17/2028

289,202

Truist

Financial

Corporation

227,000

6.047%, 

6/8/2027

b

224,531

160,000

5.125%, 

12/15/2027

b,l

122,912

266,000

5.122%, 

1/26/2034

b

237,790

U.S.

Bancorp

224,000

5.727%, 

10/21/2026

b

222,137

348,000

5.775%, 

6/12/2029

b

338,736

88,000

5.836%, 

6/12/2034

b

82,997

UBS

Group

AG

550,000

2.193%, 

6/5/2026

b,h

511,533

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

270

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Financials

(0.9%)

-

continued

$

328,000

6.246%, 

9/22/2029

b,h

$

324,559

278,000

3.091%, 

5/14/2032

b,h

219,578

UDR,

Inc.

400,000

2.100%, 

8/1/2032

288,460

United

Wholesale

Mortgage,

LLC

38,000

5.500%, 

11/15/2025

h

36,145

95,000

5.500%, 

4/15/2029

h

80,275

UnitedHealth

Group,

Inc.

224,000

5.875%, 

2/15/2053

224,797

337,000

4.750%, 

5/15/2052

287,342

253,000

4.625%, 

7/15/2035

233,591

USI,

Inc./NY

49,000

6.875%, 

5/1/2025

h

48,623

Wells

Fargo

&

Company

199,000

3.000%, 

4/22/2026

185,367

350,000

3.000%, 

10/23/2026

321,438

338,000

3.526%, 

3/24/2028

b

310,410

550,000

2.393%, 

6/2/2028

b

482,333

234,000

5.574%, 

7/25/2029

b

228,288

185,000

5.389%, 

4/24/2034

b

172,958

310,000

4.900%, 

11/17/2045

248,651

Welltower

OP,

LLC

282,000

2.050%, 

1/15/2029

233,092

Willis

North

America,

Inc.

450,000

4.650%, 

6/15/2027

430,719

XHR,

LP

61,000

6.375%, 

8/15/2025

f,h

59,889

66,000

4.875%, 

6/1/2029

h

56,100

Total

56,181,639

Foreign

Government

(<0.1%)

NBN

Company,

Ltd.

350,000

2.625%, 

5/5/2031

h

282,084

Total

282,084

Mortgage-Backed

Securities

(2.4%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

4,794,742

2.500%, 

5/1/2051

3,826,451

1,895,687

3.500%, 

5/1/2052

1,632,437

3,189,000

4.000%, 

5/1/2052

2,862,072

4,808,739

3.500%, 

6/1/2052

4,143,979

1,930,743

5.000%, 

7/1/2053

1,827,645

993,360

5.500%, 

7/1/2053

963,814

2,538,990

3.500%, 

8/1/2052

2,197,175

2,900,000

5.500%, 

9/1/2053

2,813,730

Federal

Home

Loan

Mortgage

Corporation

Gold

15-Yr.

Pass

Through

1,741,562

2.500%, 

7/1/2030

1,587,451

Federal

National

Mortgage

Association

Conventional

20-Yr.

Pass

Through

2,023,467

3.000%, 

12/1/2036

1,805,402

2,031,950

3.000%, 

8/1/2038

1,804,507

3,035,090

3.500%, 

5/1/2040

2,696,298

2,854,588

2.500%, 

4/1/2042

2,348,011

971,638

2.000%, 

5/1/2042

786,624

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

7,979,486

3.000%, 

1/1/2052

6,642,909

624,978

2.000%, 

2/1/2051

477,940

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Mortgage-Backed

Securities

(2.4%)

-

continued

$

961,200

2.000%, 

2/1/2051

$

736,198

3,083,082

2.500%, 

2/1/2051

2,470,540

3,537,694

2.500%, 

2/1/2051

2,829,135

10,495,555

2.000%, 

3/1/2051

8,021,418

8,248,282

3.000%, 

3/1/2052

6,840,376

6,866,846

2.000%, 

4/1/2051

5,247,387

4,849,888

3.000%, 

4/1/2051

4,026,478

5,015,913

3.000%, 

5/1/2050

4,196,880

1,162,651

2.000%, 

5/1/2051

886,703

3,969,009

3.000%, 

5/1/2051

3,336,737

3,204,093

3.000%, 

6/1/2050

2,706,491

1,394,558

5.000%, 

6/1/2053

1,322,250

5,403,211

2.500%, 

7/1/2051

4,313,211

1,296,649

3.500%, 

7/1/2051

1,133,809

1,181,119

2.500%, 

8/1/2050

953,499

2,072,730

3.500%, 

8/1/2050

1,814,335

1,858,653

3.500%, 

9/1/2052

1,607,061

3,446,256

4.500%, 

9/1/2053

3,167,894

5,361,096

4.000%, 

10/1/2052

4,788,582

1,159,749

2.000%, 

11/1/2051

885,552

4,694,635

2.000%, 

12/1/2050

3,595,827

10,481,618

2.500%, 

12/1/2051

8,375,467

6,540,125

4.500%, 

12/1/2052

6,031,484

150,000

5.500%, 

10/1/2041

e

144,955

6,000,000

6.000%, 

10/1/2041

e

5,921,250

7,100,000

4.000%, 

10/1/2048

e

6,320,664

5,875,000

4.500%, 

10/1/2048

e

5,393,984

8,025,000

5.000%, 

10/1/2048

e

7,571,086

Federal

National

Mortgage

Association

Conventional

40-Yr.

Pass

Through

6,198,596

2.500%, 

3/1/2062

4,757,152

1,370,496

3.500%, 

7/1/2061

1,165,622

2,769,504

4.000%, 

12/1/2061

2,466,539

Total

151,445,011

Technology

(0.2%)

Advanced

Micro

Devices,

Inc.

225,000

4.393%, 

6/1/2052

183,292

Analog

Devices,

Inc.

525,000

2.950%, 

10/1/2051

327,708

Apple,

Inc.

395,000

2.650%, 

2/8/2051

239,582

735,000

3.750%, 

9/12/2047

568,124

AthenaHealth

Group,

Inc.

169,000

6.500%, 

2/15/2030

f,h

141,370

Broadcom,

Inc.

121,000

3.469%, 

4/15/2034

h

95,035

452,000

3.137%, 

11/15/2035

h

329,545

500,000

3.187%, 

11/15/2036

h

358,994

250,000

4.926%, 

5/15/2037

h

215,482

Cloud

Software

Group,

Inc.

135,000

6.500%, 

3/31/2029

h

119,385

48,000

9.000%, 

9/30/2029

h

41,712

CommScope

Technologies,

LLC

65,000

6.000%, 

6/15/2025

h

61,877

CommScope,

Inc.

120,000

7.125%, 

7/1/2028

f,h

71,797

Dell

International,

LLC/EMC

Corporation

340,000

6.020%, 

6/15/2026

341,326

Fiserv,

Inc.

386,000

2.250%, 

6/1/2027

342,555

220,000

2.650%, 

6/1/2030

180,721

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

271

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Technology

(0.2%)

-

continued

$

195,000

5.600%, 

3/2/2033

$

188,991

Gartner,

Inc.

140,000

3.625%, 

6/15/2029

h

119,766

235,000

3.750%, 

10/1/2030

h

197,213

Global

Payments,

Inc.

337,000

5.300%, 

8/15/2029

321,379

II-VI,

Inc.

58,000

5.000%, 

12/15/2029

f,h

50,288

Intel

Corporation

225,000

4.875%, 

2/10/2028

220,717

Iron

Mountain,

Inc.

296,000

4.875%, 

9/15/2029

h

259,428

190,000

5.250%, 

7/15/2030

h

165,993

182,000

4.500%, 

2/15/2031

h

149,688

KLA

Corporation

338,000

3.300%, 

3/1/2050

224,616

Marvell

Technology,

Inc.

54,000

5.950%, 

9/15/2033

53,002

Mastercard,

Inc.

265,000

3.950%, 

2/26/2048

209,816

Microsoft

Corporation

145,000

3.041%, 

3/17/2062

91,802

335,000

3.700%, 

8/8/2046

263,586

NCR

Corporation

182,000

5.125%, 

4/15/2029

h

160,353

181,000

6.125%, 

9/1/2029

h

185,620

NXP

BV/NXP

Funding,

LLC

150,000

5.550%, 

12/1/2028

146,818

NXP

BV/NXP

Funding,

LLC/NXP

USA,

Inc.

106,000

4.300%, 

6/18/2029

97,107

250,000

3.250%, 

5/11/2041

168,198

Open

Text

Corporation

102,000

3.875%, 

12/1/2029

h

83,846

220,000

4.125%, 

2/15/2030

h

184,052

Oracle

Corporation

224,000

6.900%, 

11/9/2052

230,749

561,000

6.150%, 

11/9/2029

569,501

450,000

3.850%, 

7/15/2036

355,797

624,000

4.000%, 

7/15/2046

440,320

PTC,

Inc.

161,000

3.625%, 

2/15/2025

h

154,726

80,000

4.000%, 

2/15/2028

h

71,700

Rackspace

Technology

Global,

Inc.

180,000

5.375%, 

12/1/2028

h

60,362

RingCentral,

Inc.

121,000

8.500%, 

8/15/2030

h

116,886

Roper

Technologies,

Inc.

273,000

1.750%, 

2/15/2031

207,118

S&P

Global,

Inc.

54,000

5.250%, 

9/15/2033

h

52,635

Seagate

HDD

Cayman

71,000

8.500%, 

7/15/2031

h

72,831

181,560

9.625%, 

12/1/2032

h

195,639

Sensata

Technologies

BV

200,000

4.000%, 

4/15/2029

h

172,220

Sensata

Technologies,

Inc.

139,000

3.750%, 

2/15/2031

h

112,496

Shift4

Payments,

LLC/Shift4

Payments

Finance

Sub,

Inc.

60,000

4.625%, 

11/1/2026

h

56,572

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Technology

(0.2%)

-

continued

SS&C

Technologies,

Inc.

$

411,000

5.500%, 

9/30/2027

h

$

387,836

Texas

Instruments,

Inc.

224,000

5.050%, 

5/18/2063

198,537

Viavi

Solutions,

Inc.

128,000

3.750%, 

10/1/2029

h

104,051

Visa,

Inc.

466,000

2.700%, 

4/15/2040

328,155

VMware,

Inc.

206,000

4.650%, 

5/15/2027

198,661

300,000

2.200%, 

8/15/2031

226,389

Total

11,473,965

Transportation

(0.1%)

Allegiant

Travel

Company

109,000

7.250%, 

8/15/2027

h

102,596

American

Airlines

Group,

Inc.

42,000

3.750%, 

3/1/2025

h

39,788

American

Airlines,

Inc.

260,000

11.750%, 

7/15/2025

h

279,498

87,000

7.250%, 

2/15/2028

h

83,181

American

Airlines,

Inc./

AAdvantage

Loyalty

IP,

Ltd.

363,916

5.500%, 

4/20/2026

h

355,424

Avis

Budget

Car

Rental,

LLC/Avis

Budget

Finance,

Inc.

76,000

5.375%, 

3/1/2029

h

67,547

Burlington

Northern

Santa

Fe,

LLC

309,000

2.875%, 

6/15/2052

190,070

214,000

5.750%, 

5/1/2040

212,443

240,000

4.450%, 

3/15/2043

200,547

Canadian

Pacific

Railway

Company

225,000

4.700%, 

5/1/2048

186,240

CSX

Corporation

360,000

3.800%, 

4/15/2050

259,841

Delta

Air

Lines,

Inc./SkyMiles

IP,

Ltd.

456,000

4.750%, 

10/20/2028

h

433,356

ERAC

USA

Finance,

LLC

224,000

5.400%, 

5/1/2053

h

206,989

Hawaiian

Brand

Intellectual

Property,

Ltd.

167,000

5.750%, 

1/20/2026

h

150,276

Hertz

Corporation

137,000

4.625%, 

12/1/2026

h

121,416

165,000

5.000%, 

12/1/2029

h

129,182

Mileage

Plus

Holdings,

LLC

423,000

6.500%, 

6/20/2027

h

419,109

Norfolk

Southern

Corporation

784,000

4.450%, 

3/1/2033

715,926

Penske

Truck

Leasing

Company,

LP/PTL

Finance

Corporation

339,000

5.750%, 

5/24/2026

h

334,011

Rand

Parent,

LLC

125,000

8.500%, 

2/15/2030

f,h

115,638

Southwest

Airlines

Company

350,000

2.625%, 

2/10/2030

288,361

Union

Pacific

Corporation

449,000

2.973%, 

9/16/2062

255,005

United

Airlines,

Inc.

134,000

4.375%, 

4/15/2026

h

123,922

112,000

4.625%, 

4/15/2029

h

96,267

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

272

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Transportation

(0.1%)

-

continued

VistaJet

Malta

Finance

plc/Vista

Management

Holding,

Inc.

$

36,000

7.875%, 

5/1/2027

f,h

$

31,005

158,000

6.375%, 

2/1/2030

h

122,032

XPO

Escrow

Sub,

LLC

146,000

7.500%, 

11/15/2027

h

147,612

Total

5,667,282

U.S.

Government

&

Agencies

(3.4%)

U.S.

Treasury

Bonds

1,500,000

2.875%, 

5/15/2052

1,063,535

1,419,000

3.625%, 

5/15/2053

1,174,888

880,000

1.625%, 

11/15/2050

460,934

5,830,000

5.250%, 

11/15/2028

5,986,454

7,700,000

1.625%, 

8/15/2029

6,534,172

2,050,000

4.375%, 

5/15/2040

1,944,777

7,430,000

1.375%, 

11/15/2040

4,397,341

11,465,000

3.000%, 

5/15/2042

8,773,860

2,500,000

3.250%, 

5/15/2042

1,992,188

25,124,000

2.500%, 

5/15/2046

16,828,173

16,725,000

2.875%, 

5/15/2049

11,930,936

U.S.

Treasury

Notes

9,200,000

3.875%, 

3/31/2025

9,017,078

43,700,000

2.875%, 

5/31/2025

42,090,269

12,650,000

2.625%, 

1/31/2026

12,007,123

2,500,000

0.500%, 

2/28/2026

2,250,781

25,060,000

2.500%, 

2/28/2026

23,695,405

20,005,000

2.250%, 

11/15/2027

18,193,610

10,550,000

3.875%, 

12/31/2027

10,224,846

300,000

0.750%, 

1/31/2028

254,367

3,200,000

3.625%, 

3/31/2028

3,067,750

18,050,000

2.875%, 

5/15/2028

16,727,273

900,000

1.500%, 

2/15/2030

746,016

500,000

0.875%, 

11/15/2030

388,984

160,000

1.375%, 

11/15/2031

125,413

6,800,000

2.875%, 

5/15/2032

5,968,859

8,800,000

4.125%, 

11/15/2032

8,487,187

1,400,000

3.500%, 

2/15/2033

1,284,500

Total

215,616,719

Utilities

(0.2%)

AES

Corporation

450,000

3.950%, 

7/15/2030

h

387,864

Ameren

Illinois

Company

253,000

4.500%, 

3/15/2049

208,509

American

Electric

Power

Company,

Inc.

195,000

5.625%, 

3/1/2033

188,693

Appalachian

Power

Company

238,000

3.300%, 

6/1/2027

218,284

Berkshire

Hathaway

Energy

Company

375,000

4.500%, 

2/1/2045

299,342

Calpine

Corporation

135,000

4.500%, 

2/15/2028

h

121,666

CenterPoint

Energy

Resources

Corporation

350,000

1.750%, 

10/1/2030

270,681

CenterPoint

Energy,

Inc.

126,000

4.250%, 

11/1/2028

115,850

Commonwealth

Edison

Company

355,000

3.700%, 

3/1/2045

258,543

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Utilities

(0.2%)

-

continued

Consolidated

Edison

Company

of

New

York,

Inc.

$

168,000

4.500%, 

12/1/2045

$

133,738

450,000

4.125%, 

5/15/2049

333,777

Constellation

Energy

Generation,

LLC

108,000

6.125%, 

1/15/2034

107,828

Consumers

Energy

Company

367,000

4.350%, 

4/15/2049

295,764

DTE

Electric

Company

265,000

3.700%, 

3/15/2045

191,445

360,000

3.700%, 

6/1/2046

256,747

Duke

Energy

Carolinas,

LLC

340,000

3.700%, 

12/1/2047

242,483

Duke

Energy

Indiana,

LLC

450,000

3.750%, 

5/15/2046

317,600

Edison

International

318,000

5.750%, 

6/15/2027

315,057

Eversource

Energy

281,000

4.750%, 

5/15/2026

274,686

Exelon

Corporation

275,000

4.700%, 

4/15/2050

219,784

336,000

4.450%, 

4/15/2046

262,046

FirstEnergy

Corporation

281,000

5.100%, 

7/15/2047

238,473

Georgia

Power

Company

190,000

4.950%, 

5/17/2033

178,094

ITC

Holdings

Corporation

224,000

5.300%, 

7/1/2043

193,144

Jersey

Central

Power

&

Light

Company

200,000

2.750%, 

3/1/2032

h

156,629

MidAmerican

Energy

Company

110,000

5.850%, 

9/15/2054

108,446

National

Rural

Utilities

Cooperative

Finance

Corporation

138,000

3.700%, 

3/15/2029

125,976

NextEra

Energy

Capital

Holdings,

Inc.

215,000

5.749%, 

9/1/2025

214,396

NextEra

Energy

Operating

Partners,

LP

283,000

3.875%, 

10/15/2026

h

256,233

NiSource

Finance

Corporation

415,000

5.650%, 

2/1/2045

375,442

NRG

Energy,

Inc.

50,000

3.375%, 

2/15/2029

h

40,470

337,000

4.450%, 

6/15/2029

h

292,261

80,000

5.250%, 

6/15/2029

h

70,621

Pacific

Gas

and

Electric

Company

250,000

3.300%, 

12/1/2027

220,885

199,000

4.550%, 

7/1/2030

175,908

PacifiCorp

227,000

5.500%, 

5/15/2054

192,522

PG&E

Corporation

160,000

5.000%, 

7/1/2028

f

144,925

PPL

Electric

Utilities

Corporation

204,000

3.950%, 

6/1/2047

154,391

Public

Service

Company

of

Colorado

337,000

4.500%, 

6/1/2052

262,930

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

273

Principal

Amount

Long-Term

Fixed

Income

(10.0%)

Value

Utilities

(0.2%)

-

continued

San

Diego

Gas

&

Electric

Company

$

500,000

4.150%, 

5/15/2048

$

380,031

Southern

California

Edison

Company

346,000

4.000%, 

4/1/2047

250,179

Southern

Company

450,000

5.113%, 

8/1/2027

440,985

Southern

Company

Gas

Capital

Corporation

140,000

4.400%, 

5/30/2047

105,891

Southwestern

Electric

Power

Company

180,000

3.900%, 

4/1/2045

124,993

Talen

Energy

Supply,

LLC

116,000

8.625%, 

6/1/2030

h

118,912

TerraForm

Power

Operating,

LLC

235,000

5.000%, 

1/31/2028

h

213,263

Virginia

Electric

and

Power

Company

284,000

4.600%, 

12/1/2048

229,367

Vistra

Operations

Company,

LLC

315,000

5.125%, 

5/13/2025

h

306,943

278,000

5.000%, 

7/31/2027

h

255,590

Xcel

Energy,

Inc.

253,000

4.600%, 

6/1/2032

229,585

Total

11,077,872

Total

Long-Term

Fixed

Income

(cost

$702,517,051)

623,946,035

Shares

Collateral

Held

for

Securities

Loaned

(

0.1%

)

Value

7,064,946

Thrivent

Cash

Management

Trust

7,064,946

Total

Collateral

Held

for

Securities

Loaned

(cost

$7,064,946)

7,064,946

Shares

or

Principal

Amount

Short-Term

Investments

(

11.1%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

500,000

5.265%,

10/4/2023

n,o

499,854

100,000

5.220%,

10/11/2023

n,o

99,869

4,400,000

5.250%,

10/17/2023

n,o

4,390,612

4,600,000

5.201%,

10/20/2023

n,o

4,588,224

4,200,000

5.270%,

10/25/2023

n,o

4,186,267

1,000,000

5.275%,

11/10/2023

n,o

994,457

5,100,000

5.284%,

11/15/2023

n,o

5,068,116

400,000

5.298%,

11/17/2023

n,o

397,386

2,300,000

5.300%,

12/6/2023

n,o

2,278,731

2,600,000

5.315%,

12/13/2023

n,o

2,573,381

24,800,000

5.315%,

12/15/2023

n,o

24,539,085

Thrivent

Core

Short-Term

Reserve

Fund

64,496,575

5.650%

644,965,750

Shares

or

Principal

Amount

Short-Term

Investments

(11.1%)

Value

U.S.

Treasury

Bills

500,000

5.277%,

11/16/2023

n,p

$

496,691

Total

Short-Term

Investments

(cost

$694,980,662)

695,078,423

Total

Investments

(cost

$5,658,738,739)

99.6%

$6,222,828,356

Other

Assets

and

Liabilities,

Net

0.4%

27,995,953

Total

Net

Assets

100.0%

$6,250,824,309

a

The

stated

interest

rate

represents

the

weighted

average

of

all

contracts

within

the

bank

loan

facility.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

September

29,

2023.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

All

or

a

portion

of

the

loan

is

unfunded.

e

Denotes

investments

purchased

on

a

when-issued

or

delayed-delivery

basis.

f

All

or

a

portion

of

the

security

is

on

loan.

g

Non-income

producing

security.

h

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$99,766,205

or

1.6%

of

total

net

assets.

i

Denotes

step

coupon

securities.

Step

coupon

securities

pay

an

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

is

as

of

September

29,

2023.

j

Denotes

interest

only

security.  Interest

only

securities

represent

the

right

to

receive

monthly

interest

payments

on

an

underlying

pool

of

mortgages

or

assets.  The

principal

shown

is

the

outstanding

par

amount

of

the

pool

as

of

the

end

of

the

period.

The

actual

effective

yield

of

the

security

is

different

than

the

stated

coupon

rate.

k

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

l

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

m

Defaulted

security.  Interest

is

not

being

accrued.

n

The

interest

rate

shown

reflects

the

yield.

o

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

p

At

September

29,

2023,

$178,809

of

investments

were

segregated

to

cover

exposure

to

a

counterparty

for

margin

on

open

mortgage-backed

security

transactions.

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

274

*

Denotes

restricted

securities.

Restricted

securities

are

investment

securities

which

cannot

be

offered

for

public

sale

without

first

being

registered

under

the

Securities

Act

of

1933.

The

value

of

all

restricted

securities

held

in

Moderately

Aggressive

Allocation

Portfolio

as

of

September

29,

2023

was

$267,178

or

0.00%

of

total

net

assets.

The

following

table

indicates

the

acquisition

date

and

cost

of

restricted

securities

shown

in

the

schedule

as

of

September

29,

2023.

Security

Acquisition

Date

Cost

Massachusetts

Mutual

Life

Insurance

Company,

12/1/2061

11/18/2021

$

471,281

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Moderately

Aggressive

Allocation

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

3,173,218

Common

Stock

3,714,431

Total

lending

$6,887,649

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$7,064,946

Net

amounts

due

to

counterparty

$177,297

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

CLO

-

Collateralized

Loan

Obligation

ETF

-

Exchange

Traded

Fund

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Reference

Rate

Index:

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

PRIME

-

Federal

Reserve

Prime

Loan

Rate

SOFR30A

-

Secured

Overnight

Financing

Rate

30

Year

Average

SOFRRATE

-

Secured

Overnight

Financing

Rate

TSFR1M

-

CME

Term

SOFR

1

Month

TSFR3M

-

CME

Term

SOFR

3

Month

TSFR6M

-

CME

Term

SOFR

6

Month

USISOA05

-

USD

SOFR

Spread-Adjusted

ICE

Swap

Rate

5

Year

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

275

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Moderately

Aggressive

Allocation

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Bank

Loans

Basic

Materials

1,149,178

–

998,258

150,920

Capital

Goods

4,167,591

–

3,682,982

484,609

Communications

Services

5,972,115

–

5,972,115

–

Consumer

Cyclical

6,723,894

–

6,723,894

–

Consumer

Non-Cyclical

6,613,205

–

6,334,095

279,110

Energy

963,333

–

963,333

–

Financials

3,111,822

–

3,111,822

–

Technology

8,405,532

–

8,405,532

–

Transportation

2,282,631

–

2,282,631

–

Utilities

326,794

–

326,794

–

Registered

Investment

Companies

U.S.

Affiliated

2,490,815,289

2,490,815,289

–

–

U.S.

Unaffiliated

38,370,817

38,370,817

–

–

Common

Stock

Communications

Services

136,438,765

136,390,040

48,725

–

Consumer

Discretionary

215,269,125

215,269,125

–

–

Consumer

Staples

80,808,081

80,808,081

–

–

Energy

63,565,872

63,565,872

–

–

Financials

245,645,384

245,645,384

–

–

Health

Care

237,939,125

237,939,125

–

–

Industrials

219,322,776

215,049,566

4,273,210

–

Information

Technology

457,891,338

456,586,384

1,304,954

–

Materials

44,165,727

43,411,914

753,813

–

Real

Estate

62,338,613

62,338,613

–

–

Utilities

29,248,825

29,248,825

–

–

Long-Term

Fixed

Income

Asset-Backed

Securities

19,125,003

–

19,125,003

–

Basic

Materials

5,417,726

–

5,417,726

–

Capital

Goods

12,711,771

–

12,711,771

–

Collateralized

Mortgage

Obligations

26,839,368

–

26,839,368

–

Commercial

Mortgage-Backed

Securities

29,746,268

–

29,746,268

–

Communications

Services

18,914,744

–

18,914,744

–

Consumer

Cyclical

19,574,838

–

19,574,838

–

Consumer

Non-Cyclical

22,948,568

–

22,948,568

–

Energy

16,923,177

–

16,923,177

–

Financials

56,181,639

–

56,181,639

–

Foreign

Government

282,084

–

282,084

–

Mortgage-Backed

Securities

151,445,011

–

151,445,011

–

Technology

11,473,965

–

11,473,965

–

Transportation

5,667,282

–

5,667,282

–

U.S.

Government

&

Agencies

215,616,719

–

215,616,719

–

Utilities

11,077,872

–

11,077,872

–

Short-Term

Investments

50,112,673

–

50,112,673

–

Subtotal

Investments

in

Securities

$5,035,594,540

$4,315,439,035

$719,240,866

$914,639

Other

Investments  *

Total

Affiliated

Short-Term

Investments

644,965,750

U.S.

Affiliated

Registered

Investment

Cos.

535,203,120

Collateral

Held

for

Securities

Loaned

7,064,946

Subtotal

Other

Investments

$1,187,233,816

Total

Investments

at

Value

$6,222,828,356

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

276

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

S&P

-

Standard

&

Poor's

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Moderately

Aggressive

Allocation

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

26,698,016

26,698,016

–

–

Total

Asset

Derivatives

$26,698,016

$26,698,016

$–

$–

Liability

Derivatives

Futures

Contracts

47,427,682

47,427,682

–

–

Total

Liability

Derivatives

$47,427,682

$47,427,682

$–

$–

The

following

table

presents

Moderately

Aggressive

Allocation

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$49,117,618

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Amount

Value

and

Unrealized

CBOT

10-Yr.

U.S.

Treasury

Note

295

December

2023

$

32,556,834

(

$

678,397)

CBOT

2-Yr.

U.S.

Treasury

Note

529

December

2023

107,710,748

(

476,661)

CBOT

5-Yr.

U.S.

Treasury

Note

516

December

2023

54,958,500

(

593,059)

CBOT

U.S.

Long

Bond

226

December

2023

27,207,778

(

1,493,216)

CME

E-mini

S&P

500

Index

4,746

December

2023

1,066,911,492

(

40,470,342)

CME

Ultra

Long

Term

U.S.

Treasury

Bond

238

December

2023

30,429,366

(

2,181,741)

ICE

mini

MSCI

EAFE

Index

153

December

2023

16,064,550

(

447,075)

ICE

US

mini

MSCI

Emerging

Markets

Index

318

December

2023

15,576,812

(

384,362)

Ultra

10-Yr.

U.S.

Treasury

Note

198

December

2023

22,792,204

(

702,829)

Total

Futures

Long

Contracts

$

1,374,208,284

(

$

47,427,682)

CME

E-mini

Russell

2000

Index

(2,113)

December

2023

(

$

198,279,568)

$

8,257,478

CME

E-mini

S&P

Mid-Cap

400

Index

(1,973)

December

2023

(

513,924,452)

16,649,532

CME

Euro

Foreign

Exchange

Currency

(453)

December

2023

(

60,915,852)

822,571

Eurex

Euro

STOXX

50

Index

(1,344)

December

2023

(

60,477,575)

968,435

Total

Futures

Short

Contracts

(

$

833,597,447)

$26,698,016

Total

Futures

Contracts

$

540,610,837

($20,729,666)

Moderately

Aggressive

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

277

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Moderately

Aggressive

Allocation

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$54,641

$2,518

$1,338

$54,560

7,363

0.9%

Core

Emerging

Markets

Equity

105,560

–

–

108,160

13,000

1.7

Core

International

Equity

35,837

22,000

–

60,480

6,414

1.0

Core

Low

Volatility

Equity

238,778

–

133,000

110,162

9,836

1.8

Core

Mid

Cap

Value

–

99,989

–

103,139

10,622

1.7

Core

Small

Cap

Value

100,236

–

–

98,701

10,967

1.6

Global

Stock

460,750

6,336

–

505,270

40,949

8.1

High

Yield

33,656

1,550

–

35,434

8,892

0.6

Income

108,358

3,398

732

108,764

13,134

1.7

International

Allocation

498,134

11,886

87,000

443,847

51,895

7.1

International

Index

40,419

912

–

42,961

3,580

0.7

Large

Cap

Value

644,212

44,937

–

659,275

33,084

10.5

Limited

Maturity

Bond

66,028

1,568

1,038

67,040

7,133

1.1

Mid

Cap

Stock

451,103

25,425

–

472,236

26,196

7.5

Small

Cap

Stock

154,297

21,665

–

155,989

9,778

2.5

Total

U.S.

Affiliated

Registered

Investment

Companies

2,992,009

3,026,018

48.5

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

611,575

917,386

883,995

644,966

64,497

10.3

Total

Affiliated

Short-Term

Investments

611,575

644,966

10.3

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

7,379

389,529

389,843

7,065

7,065

0.1

Total

Collateral

Held

for

Securities

Loaned

7,379

7,065

0.1

Total

Value

$3,610,963

$3,678,049

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

($421)

($840)

$

–

$2,519

Core

Emerging

Markets

Equity

–

2,600

–

–

Core

International

Equity

–

2,643

–

–

Core

Low

Volatility

Equity

8,947

(4,563)

–

–

Core

Mid

Cap

Value

Fund

–

3,150

–

–

Core

Small

Cap

Value

Fund

–

(1,535)

–

–

Global

Stock

–

38,184

–

6,334

High

Yield

–

228

–

1,549

Income

(133)

(2,127)

–

3,397

International

Allocation

(33,656)

54,483

–

11,886

International

Index

–

1,630

–

912

Large

Cap

Value

–

(29,874)

33,442

11,495

Limited

Maturity

Bond

(40)

522

–

1,568

Mid

Cap

Stock

–

(4,292)

23,417

2,009

Small

Cap

Stock

–

(19,973)

20,683

982

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

–

–

–

24,677

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$67,328

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

74

Total

Affiliated

Income

from

Securities

Loaned,

Net

$74

Total

Value

($25,303)

$40,236

$

77,542

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

278

Principal

Amount

Bank

Loans

(

2.4%

)

a

Value

Basic

Materials

(0.1%)

Grinding

Media,

Inc.,

Term

Loan

$

370,717

9.530%, 

(TSFR1M

+

4.000%),

10/12/2028

b,c

$

367,010

INEOS

US

Petrochem,

LLC,

Term

Loan

972,612

8.181%, 

(TSFR1M

+

2.750%),

1/29/2026

b

967,263

Lummus

Technology

Holdings

V,

LLC,

Term

Loan

338,747

8.931%, 

(TSFR1M

+

3.500%),

6/30/2027

b

337,588

Nouryon

USA,

LLC,

Term

Loan

668,776

8.427%, 

(TSFR3M

+

3.000%),

10/1/2025

b

667,659

Spectrum

Group

Buyer,

Inc.,

Term

Loan

333,840

11.953%, 

(TSFR1M

+

6.500%),

5/19/2028

b

320,737

Total

2,660,257

Capital

Goods

(0.3%)

Ali

Group

North

America

Corporation,

Term

Loan

490,998

7.431%, 

(TSFR1M

+

2.000%),

7/22/2029

b

490,315

Brookfield

WEC

Holdings,

Inc.,

Term

Loan

804,725

8.181%, 

(TSFR1M

+

2.750%),

8/1/2025

b

803,792

BW

Holding,

Inc.,

Term

Loan

349,546

9.573%, 

(TSFR1M

+

4.000%),

12/14/2028

b

312,969

Chart

Industries,

Inc.,

Term

Loan

303,039

9.174%, 

(TSFR1M

+

3.750%),

3/17/2030

b,c

303,039

Charter

Next

Generation,

Inc.,

Term

Loan

879,728

9.181%, 

(TSFR1M

+

3.750%),

12/1/2027

b

870,931

Clydesdale

Acquisition

Holdings,

Inc.,

Term

Loan

932,556

9.591%, 

(TSFR1M

+

4.175%),

4/13/2029

b

918,839

Cornerstone

Building

Brands,

Inc.,

Term

Loan

887,572

8.682%, 

(TSFR1M

+

3.250%),

4/12/2028

b

863,723

Emerald

Debt

Merger

Sub,

LLC,

Term

Loan

694,595

8.316%, 

(TSFR1M

+

3.000%),

5/31/2030

b

693,296

EnergySolutions,

LLC,

Term

Loan

243,842

0.000%, 

(TSFR1M

+

4.000%),

9/18/2030

b,c,d,e

242,013

Foley

Products

Company,

LLC,

Term

Loan

299,920

10.290%, 

(SOFRRATE

+

4.750%),

2/16/2029

b

298,358

Proampac

PG

Borrower,

LLC,

Term

Loan

486,755

0.000%, 

(TSFR1M

+

4.500%),

9/26/2028

b,d,e

483,591

Principal

Amount

Bank

Loans

(2.4%)

a

Value

Capital

Goods

(0.3%)

-

continued

Quikrete

Holdings,

Inc.,

Term

Loan

$

287,018

8.056%, 

(TSFR1M

+

2.625%),

1/31/2027

b

$

286,300

783,075

8.181%, 

(TSFR1M

+

2.750%),

3/18/2029

b

782,629

Smyrna

Ready

Mix

Concrete,

LLC,

Term

Loan

660,225

9.666%, 

(TSFR1M

+

4.250%),

4/1/2029

b,c

661,050

TK

Elevator

U.S.

Newco,

Inc.,

Term

Loan

550,461

9.381%, 

(TSFR6M

+

3.500%),

7/31/2027

b

548,809

TransDigm,

Inc.,

Term

Loan

1,427,029

8.640%, 

(TSFR1M

+

3.250%),

8/24/2028

b

1,426,801

Vertiv

Group

Corporation,

Term

Loan

540,443

8.192%, 

(TSFR1M

+

2.750%),

3/2/2027

b

539,286

Total

10,525,741

Communications

Services

(0.4%)

Altice

France

SA/France,

Term

Loan

1,128,219

10.808%, 

(TSFR1M

+

5.500%),

8/31/2028

b

1,018,500

CCI

Buyer,

Inc.,

Term

Loan

434,543

9.390%, 

(TSFR3M

+

4.000%),

12/17/2027

b

428,299

Cengage

Learning,

Inc.,

Term

Loan

360,125

10.323%, 

(TSFR3M

+

4.750%),

7/14/2026

b

357,965

Charter

Communications

Operating,

LLC,

Term

Loan

1,355,876

7.116%, 

(TSFR3M

+

1.750%),

2/1/2027

b

1,353,680

Clear

Channel

Outdoor

Holdings,

Inc.,

Term

Loan

988,101

9.130%, 

(TSFR3M

+

3.500%),

8/23/2026

b

958,043

CMG

Media

Corporation,

Term

Loan

643,500

0.000%, 

(LIBOR

3M

+

3.500%),

12/17/2026

b,d,e

587,194

Crown

Subsea

Communications

Holding,

Inc.,

Term

Loan

331,700

10.444%, 

(TSFR1M

+

5.000%),

4/27/2027

b

332,254

456,266

10.694%, 

(TSFR1M

+

5.250%),

4/27/2027

b

457,406

CSC

Holdings,

LLC,

Term

Loan

508,283

7.947%, 

(LIBOR

1M

+

2.500%),

4/15/2027

b

459,147

DIRECTV

Financing,

LLC,

Term

Loan

1,224,503

10.431%, 

(TSFR1M

+

5.000%),

8/2/2027

b

1,195,250

Intelsat

Jackson

Holdings

SA,

Term

Loan

644,247

9.772%, 

(TSFR6M

+

4.250%),

2/1/2029

b

642,198

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

279

Principal

Amount

Bank

Loans

(2.4%)

a

Value

Communications

Services

(0.4%)

-

continued

Level

3

Financing,

Inc.,

Term

Loan

$

567,000

7.181%, 

(TSFR1M

+

1.750%),

3/1/2027

b

$

534,539

Lumen

Technologies,

Inc.,

Term

Loan

694,739

7.681%, 

(TSFR1M

+

2.250%),

3/15/2027

b

493,466

McGraw-Hill

Education,

Inc.,

Term

Loan

627,200

10.181%, 

(LIBOR

1M

+

4.750%),

7/30/2028

b,d,e

613,740

MH

Sub

I,

LLC,

Term

Loan

835,266

9.566%, 

(TSFR1M

+

4.250%),

5/3/2028

b

806,942

NEP

Group,

Inc.,

Term

Loan

360,020

8.681%, 

(TSFR1M

+

3.250%),

10/20/2025

b

347,196

Playtika

Holding

Corporation,

Term

Loan

434,543

8.181%, 

(TSFR1M

+

2.750%),

3/11/2028

b

433,731

Radiate

Holdco,

LLC,

Term

Loan

707,681

8.681%, 

(TSFR1M

+

3.250%),

9/25/2026

b

577,170

RLG

Holdings,

LLC,

Term

Loan

349,543

9.681%, 

(TSFR1M

+

4.250%),

7/8/2028

b

327,696

SBA

Senior

Finance

II,

LLC,

Term

Loan

456,167

7.170%, 

(TSFR1M

+

1.750%),

4/11/2025

b,d,e

455,697

UPC

Financing

Partnership,

Term

Loan

332,000

8.372%, 

(TSFR1M

+

2.925%),

1/31/2029

b

326,605

Virgin

Media

Bristol,

LLC,

Term

Loan

824,000

7.947%, 

(TSFR1M

+

2.500%),

1/31/2028

b

799,387

Zayo

Group

Holdings,

Inc.,

Term

Loan

696,000

8.431%, 

(TSFR1M

+

3.000%),

3/9/2027

b

566,760

Ziggo

Financing

Partnership,

Term

Loan

556,000

7.947%, 

(TSFR1M

+

2.500%),

4/30/2028

b

542,562

Total

14,615,427

Consumer

Cyclical

(0.4%)

1011778

B.C.,

ULC,

Term

Loan

1,348,519

7.566%, 

(TSFR1M

+

2.250%),

9/21/2030

b

1,342,626

AlixPartners,

LLP,

Term

Loan

381,091

8.181%, 

(TSFR1M

+

2.750%),

2/4/2028

b

380,520

Allied

Universal

Holdco,

LLC,

Term

Loan

1,345,273

9.166%, 

(TSFR1M

+

3.750%),

5/14/2028

b

1,297,421

Alterra

Mountain

Company,

Term

Loan

423,677

8.931%, 

(TSFR1M

+

3.500%),

8/17/2028

b

422,266

Principal

Amount

Bank

Loans

(2.4%)

a

Value

Consumer

Cyclical

(0.4%)

-

continued

Arches

Buyer,

Inc.,

Term

Loan

$

232,602

8.666%, 

(TSFR1M

+

3.250%),

12/6/2027

b

$

227,368

Caesars

Entertainment,

Inc.,

Term

Loan

831,820

8.666%, 

(TSFR1M

+

3.250%),

2/6/2030

b

831,304

Carnival

Corporation,

Term

Loan

428,315

8.327%, 

(TSFR1M

+

3.000%),

8/8/2027

b

426,708

426,657

8.681%, 

(TSFR1M

+

3.250%),

10/18/2028

b

423,991

Cinemark

USA,

Inc.,

Term

Loan

360,532

9.089%, 

(TSFR1M

+

3.750%),

5/24/2030

b

359,707

Clarios

Global,

LP,

Term

Loan

753,623

9.066%, 

(TSFR1M

+

3.750%),

5/4/2030

b

751,272

Delta

2

Lux

SARL,

Term

Loan

803,000

8.316%, 

(TSFR1M

+

3.000%),

1/15/2030

b

802,197

Ensemble

RCM,

LLC,

Term

Loan

301,430

9.219%, 

(TSFR1M

+

3.750%),

8/1/2026

b

301,538

Fertitta

Entertainment,

LLC/NV,

Term

Loan

328,663

9.316%, 

(TSFR1M

+

4.000%),

1/27/2029

b

324,966

First

Brands

Group,

LLC,

Term

Loan

433,664

10.881%, 

(TSFR6M

+

5.000%),

3/30/2027

b

427,159

GoDaddy

Operating

Company,

LLC,

Term

Loan

530,994

7.816%, 

(TSFR1M

+

2.500%),

11/10/2029

b

531,159

Great

Outdoors

Group,

LLC,

Term

Loan

752,323

9.181%, 

(TSFR1M

+

3.750%),

3/5/2028

b

749,773

Harbor

Freight

Tools

USA,

Inc.,

Term

Loan

668,842

8.181%, 

(TSFR1M

+

2.750%),

10/19/2027

b

663,063

IRB

Holding

Corporation,

Term

Loan

775,098

8.416%, 

(TSFR1M

+

3.000%),

12/15/2027

b

771,517

Light

&

Wonder

International,

Inc.,

Term

Loan

815,739

8.434%, 

(TSFR1M

+

3.000%),

4/14/2029

b

814,720

Petco

Health

&

Wellness

Company,

Inc.,

Term

Loan

347,655

8.902%, 

(TSFR3M

+

3.250%),

3/4/2028

b

343,309

PetSmart,

LLC,

Term

Loan

1,061,873

9.166%, 

(TSFR1M

+

3.750%),

2/12/2028

b

1,057,509

Pilot

Travel

Centers,

LLC,

Term

Loan

908,384

7.416%, 

(TSFR1M

+

2.000%),

8/6/2028

b

906,758

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

280

Principal

Amount

Bank

Loans

(2.4%)

a

Value

Consumer

Cyclical

(0.4%)

-

continued

Prime

Security

Services

Borrower,

LLC,

Term

Loan

$

1,079,924

8.192%, 

(TSFR1M

+

2.750%),

9/23/2026

b

$

1,077,969

Scientific

Games

Holdings,

LP,

Term

Loan

550,440

8.768%, 

(TSFR1M

+

3.500%),

4/4/2029

b

546,769

Staples,

Inc.,

Term

Loan

530,842

10.634%, 

(LIBOR

3M

+

5.000%),

4/12/2026

b

454,358

Stars

Group

Holdings

BV,

Term

Loan

317,758

7.902%, 

(TSFR3M

+

2.250%),

7/21/2026

b

317,329

Uber

Technologies,

Inc.,

Term

Loan

391,727

8.159%, 

(TSFR1M

+

2.750%),

3/3/2030

b

391,370

UFC

Holdings,

LLC,

Term

Loan

530,303

8.369%, 

(TSFR3M

+

2.750%),

4/29/2026

b

529,460

Total

17,474,106

Consumer

Non-Cyclical

(0.4%)

AI

Aqua

Merger

Sub,

Inc.,

Term

Loan

794,320

9.084%, 

(TSFR1M

+

3.750%),

7/30/2028

b

785,511

Alltech,

Inc.,

Term

Loan

328,358

9.431%, 

(TSFR1M

+

4.000%),

10/15/2028

b

316,455

Amneal

Pharmaceuticals,

LLC,

Term

Loan

733,055

8.931%, 

(TSFR1M

+

3.500%),

5/4/2025

b

718,394

Bausch

+

Lomb

Corporation,

Term

Loan

847,419

8.755%, 

(TSFR1M

+

3.250%),

5/10/2027

b

822,471

315,883

0.000%, 

(TSFR1M

+

4.000%),

9/14/2028

b,c,d,e

311,540

Chobani,

LLC,

Term

Loan

338,906

8.931%, 

(TSFR1M

+

3.500%),

10/23/2027

b

338,588

DaVita,

Inc.,

Term

Loan

271,756

7.181%, 

(TSFR1M

+

1.750%),

8/12/2026

b

268,191

Elanco

Animal

Health,

Inc.,

Term

Loan

428,669

7.180%, 

(TSFR1M

+

1.750%),

8/1/2027

b

420,036

Froneri

U.S.,

Inc.,

Term

Loan

826,458

7.666%, 

(TSFR3M

+

2.250%),

1/31/2027

b

819,598

Gainwell

Acquisition

Corporation,

Term

Loan

1,176,527

9.490%, 

(TSFR3M

+

4.000%),

10/1/2027

b

1,146,007

ICON

Luxembourg

SARL,

Term

Loan

858,566

7.902%, 

(TSFR3M

+

2.250%),

7/1/2028

b

857,879

Principal

Amount

Bank

Loans

(2.4%)

a

Value

Consumer

Non-Cyclical

(0.4%)

-

continued

Jazz

Financing

Lux

SARL,

Term

Loan

$

1,068,864

8.931%, 

(TSFR1M

+

3.500%),

5/5/2028

b

$

1,067,827

LifePoint

Health,

Inc.,

Term

Loan

406,326

0.000%, 

(TSFR1M

+

5.500%),

11/16/2028

b,c,d,e

394,136

1,075,261

9.377%, 

(TSFR3M

+

3.750%),

11/16/2025

b,d,e

1,071,680

Medline

Borrower,

LP,

Term

Loan

1,960,100

8.681%, 

(TSFR1M

+

3.250%),

10/21/2028

b

1,953,632

Organon

&

Company,

Term

Loan

984,223

8.442%, 

(TSFR1M

+

3.000%),

6/2/2028

b

981,270

Packaging

Coordinators

Midco,

Inc.,

Term

Loan

322,519

9.152%, 

(TSFR3M

+

3.500%),

11/30/2027

b

320,807

Phoenix

Newco,

Inc.,

Term

Loan

743,625

8.681%, 

(TSFR1M

+

3.250%),

11/15/2028

b

737,713

PRA

Health

Sciences,

Inc.,

Term

Loan

213,912

7.902%, 

(TSFR3M

+

2.250%),

7/1/2028

b

213,741

Reynolds

Consumer

Products,

LLC,

Term

Loan

616,362

7.166%, 

(TSFR1M

+

1.750%),

2/4/2027

b

615,314

Select

Medical

Corporation,

Term

Loan

544,635

8.316%, 

(TSFR1M

+

3.000%),

3/6/2027

b

542,593

Sotera

Health

Holdings,

LLC,

Term

Loan

676,700

8.181%, 

(TSFR1M

+

2.750%),

12/11/2026

b

669,764

Star

Parent,

Inc.,

Term

Loan

752,400

0.000%, 

(TSFR1M

+

4.000%),

9/28/2030

b,d,e

734,741

Total

16,107,888

Energy

(<0.1%)

Buckeye

Partners,

LP,

Term

Loan

540,443

7.666%, 

(TSFR1M

+

2.250%),

11/1/2026

b

539,632

CQP

Holdco,

LP,

Term

Loan

1,079,952

8.990%, 

(TSFR1M

+

3.500%),

6/4/2028

b

1,079,703

GIP

II

Blue

Holding,

LP,

Term

Loan

187,302

9.931%, 

(TSFR3M

+

4.500%),

9/29/2028

b

187,536

GIP

III

Stetson

I,

LP,

Term

Loan

289,493

9.666%, 

(TSFR1M

+

4.250%),

7/18/2025

b

289,192

Oryx

Midstream

Services

Permian

Basin,

LLC,

Term

Loan

249,064

8.692%, 

(TSFR3M

+

3.250%),

10/5/2028

b

248,676

Total

2,344,739

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

281

Principal

Amount

Bank

Loans

(2.4%)

a

Value

Financials

(0.2%)

Acrisure,

LLC,

Term

Loan

$

508,728

8.931%, 

(LIBOR

1M

+

3.500%),

2/15/2027

b

$

500,914

Alliant

Holdings

Intermediate,

LLC,

Term

Loan

211,840

8.831%, 

(TSFR1M

+

3.500%),

11/6/2027

b

211,376

AmWINS

Group,

Inc.,

Term

Loan

815,618

7.681%, 

(TSFR1M

+

2.250%),

2/19/2028

b

809,966

Asurion,

LLC,

Term

Loan

645,042

8.681%, 

(LIBOR

3M

+

3.250%),

12/23/2026

b

630,529

433,875

8.681%, 

(TSFR3M

+

3.250%),

7/31/2027

b

418,689

83,560

9.666%, 

(TSFR1M

+

4.250%),

8/19/2028

b

81,053

Edelman

Financial

Engines

Center,

LLC,

Term

Loan

222,722

8.931%, 

(TSFR1M

+

3.500%),

4/7/2028

b

220,105

First

Eagle

Holdings,

Inc.,

Term

Loan

222,624

7.990%, 

(TSFR3M

+

2.500%),

2/2/2027

b

220,478

FleetCor

Technologies

Operating

Company,

LLC,

Term  Loan

434,559

7.166%, 

(TSFR1M

+

1.750%),

4/30/2028

b

432,682

Focus

Financial

Partners,

LLC,

Term

Loan

371,188

8.566%, 

(TSFR1M

+

3.250%),

6/30/2028

b

369,900

Howden

Group

Holdings,

Ltd.,

Term

Loan

222,710

8.688%, 

(LIBOR

1M

+

3.250%),

11/12/2027

b

221,763

HUB

International,

Ltd.,

Term

Loan

959,500

9.584%, 

(TSFR1M

+

4.250%),

6/20/2030

b

961,103

Hudson

River

Trading,

LLC,

Term

Loan

232,614

8.631%, 

(TSFR1M

+

3.000%),

3/18/2028

b

230,911

Jane

Street

Group,

LLC,

Term

Loan

434,532

8.181%, 

(TSFR1M

+

2.750%),

1/26/2028

b

432,902

Sedgwick

Claims

Management

Services,

Inc.,

Term

Loan

362,180

9.066%, 

(TSFR1M

+

3.750%),

2/24/2028

b

361,231

Trans

Union,

LLC,

Term

Loan

674,501

7.681%, 

(TSFR1M

+

2.250%),

12/1/2028

b

673,577

USI,

Inc./NY,

Term

Loan

804,870

9.140%, 

(TSFR1M

+

3.750%),

11/22/2029

b

803,639

VFH

Parent,

LLC,

Term

Loan

328,680

8.418%, 

(TSFR1M

+

3.000%),

1/13/2029

b

325,735

Total

7,906,553

Principal

Amount

Bank

Loans

(2.4%)

a

Value

Technology

(0.5%)

Amentum

Government

Services

Holdings,

LLC,

Term  Loan

$

540,526

9.331%, 

(TSFR1M

+

4.000%),

2/15/2029

b

$

532,083

AthenaHealth

Group,

Inc.,

Term

Loan

1,044,005

8.568%, 

(PRIME

+

3.250%),

2/15/2029

b

1,022,801

Boxer

Parent

Company,

Inc.,

Term

Loan

825,250

9.181%, 

(TSFR1M

+

3.750%),

10/2/2025

b

823,996

Central

Parent,

Inc.,

Term

Loan

966,695

9.640%, 

(TSFR3M

+

4.250%),

7/6/2029

b

966,173

Cloud

Software

Group,

Inc.,

Term

Loan

586,055

9.990%, 

(TSFR3M

+

4.500%),

3/30/2029

b

562,736

Coherent

Corporation,

Term

Loan

499,127

8.181%, 

(TSFR3M

+

2.750%),

7/1/2029

b

496,946

CommScope,

Inc.,

Term

Loan

327,892

8.681%, 

(TSFR1M

+

3.250%),

4/4/2026

b

298,546

CoreLogic,

Inc.,

Term

Loan

426,734

8.931%, 

(TSFR1M

+

3.500%),

6/2/2028

b

393,483

Cornerstone

OnDemand,

Inc.,

Term

Loan

592,980

9.181%, 

(TSFR1M

+

3.750%),

10/15/2028

b

562,590

Dcert

Buyer,

Inc.,

Term

Loan

656,200

9.316%, 

(TSFR6M

+

4.000%),

10/16/2026

b

651,206

Dun

&

Bradstreet

Corporation,

Term

Loan

646,168

8.167%, 

(TSFR1M

+

2.750%),

2/8/2026

b

644,753

Entegris,

Inc.,

Term

Loan

459,901

7.871%, 

(TSFR3M

+

2.500%),

7/6/2029

b

459,758

Gen

Digital,

Inc.,

Term

Loan

624,174

7.416%, 

(TSFR1M

+

2.000%),

9/12/2029

b

621,677

Genesys

Cloud

Services

Holdings

II,

LLC,

Term

Loan

541,832

9.431%, 

(TSFR1M

+

4.000%),

12/1/2027

b

541,832

GTCR

W

Merger

Sub,

LLC,

Term

Loan

1,029,600

0.000%, 

(TSFR1M

+

3.000%),

9/20/2030

b,d,e

1,028,848

Informatica,

LLC,

Term

Loan

540,513

8.181%, 

(TSFR1M

+

2.750%),

10/29/2028

b

538,151

Magenta

Buyer,

LLC,

Term

Loan

584,538

10.631%, 

(TSFR3M

+

5.000%),

7/27/2028

b

433,207

McAfee

Corporation,

Term

Loan

1,112,732

9.180%, 

(TSFR1M

+

3.750%),

3/1/2029

b

1,085,258

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

282

Principal

Amount

Bank

Loans

(2.4%)

a

Value

Technology

(0.5%)

-

continued

Mitchell

International,

Inc.,

Term

Loan

$

678,115

9.181%, 

(TSFR1M

+

3.750%),

10/15/2028

b

$

666,052

MKS

Instruments,

Inc.,

Term

Loan

974,160

8.166%, 

(TSFR1M

+

2.750%),

8/17/2029

b

972,592

Open

Text

Corporation,

Term

Loan

837,670

8.166%, 

(TSFR1M

+

2.750%),

1/31/2030

b

837,293

Peraton

Corporation,

Term

Loan

1,678,410

9.166%, 

(TSFR1M

+

3.750%),

2/1/2028

b

1,673,173

Polaris

Newco,

LLC,

Term

Loan

974,061

9.431%, 

(TSFR3M

+

4.000%),

6/4/2028

b

931,270

Proofpoint,

Inc.,

Term

Loan

720,665

8.681%, 

(TSFR1M

+

3.250%),

8/31/2028

b

713,956

RealPage,

Inc.,

Term

Loan

550,384

8.431%, 

(TSFR1M

+

3.000%),

4/22/2028

b

543,504

Tempo

Acquisition,

LLC,

Term

Loan

529,630

8.316%, 

(TSFR1M

+

2.750%),

8/31/2028

b

529,630

UKG,

Inc.,

Term

Loan

1,154,252

8.618%, 

(TSFR3M

+

3.250%),

5/3/2026

b

1,150,050

Verscend

Holding

Corporation,

Term

Loan

794,772

9.431%, 

(TSFR1M

+

4.000%),

8/27/2025

b

793,922

Total

20,475,486

Transportation

(0.1%)

AAdvantage

Loyalty

IP,

Ltd.,

Term

Loan

1,250,295

10.338%, 

(TSFR3M

+

4.750%),

4/20/2028

b

1,286,554

Air

Canada,

Term

Loan

1,027,441

9.128%, 

(TSFR3M

+

3.500%),

8/11/2028

b

1,027,225

Apple

Bidco,

LLC,

Term

Loan

341,462

8.181%, 

(TSFR1M

+

2.750%),

9/23/2028

b

338,731

Brown

Group

Holding,

LLC,

Term

Loan

434,251

8.166%, 

(TSFR1M

+

2.750%),

6/7/2028

b

429,817

Genesee

&

Wyoming,

Inc.,

Term

Loan

540,400

7.490%, 

(TSFR3M

+

2.000%),

12/30/2026

b

539,216

Mileage

Plus

Holdings,

LLC,

Term

Loan

491,250

10.798%, 

(TSFR3M

+

5.250%),

6/20/2027

b

509,726

SkyMiles

IP,

Ltd.,

Term

Loan

982,600

9.076%, 

(TSFR3M

+

3.750%),

10/20/2027

b

1,016,627

Principal

Amount

Bank

Loans

(2.4%)

a

Value

Transportation

(0.1%)

-

continued

United

Airlines,

Inc.,

Term

Loan

$

740,410

9.182%, 

(TSFR3M

+

3.750%),

4/21/2028

b

$

740,580

Total

5,888,476

Utilities

(<0.1%)

PG&E

Corporation,

Term

Loan

794,502

8.431%, 

(TSFR1M

+

3.000%),

6/23/2025

b

793,954

Total

793,954

Total

Bank

Loans

(cost

$98,612,485)

98,792,627

Principal

Amount

Long-Term

Fixed

Income

(

37.3%

)

Value

Asset-Backed

Securities

(1.1%)

510

Asset

Backed

Trust

1,900,000

3.967%, 

5/25/2061,

Ser.

2021-NPL1,

Class

A2

f,g

1,616,947

720

East

CLO

I,

Ltd.

2,100,000

8.576%, 

(TSFR3M

+

3.250%),

1/20/2036,

Ser.

2022-1A,

Class

B

b,f

2,111,926

750,000

9.576%, 

(TSFR3M

+

4.250%),

1/20/2036,

Ser.

2022-1A,

Class

C

b,f

755,711

Access

Group,

Inc.

219,929

5.929%, 

(SOFR30A

+

0.614%),

2/25/2036,

Ser.

2013-1,

Class

A

b,f

216,056

Affirm

Asset

Securitization

Trust

900,000

6.610%, 

1/18/2028,

Ser.

2023-A,

Class

1A

f

895,518

AMSR

Trust

1,100,000

2.352%, 

6/17/2038,

Ser.

2021-SFR1,

Class

C

f

915,909

1,379,000

2.517%, 

12/17/2038,

Ser.

2021-SFR4,

Class

C

f

1,204,841

Ares

XL

CLO,

Ltd.

2,100,000

8.370%, 

(TSFR3M

+

3.062%),

1/15/2029,

Ser.

2016-40A,

Class

CRR

b,f

2,055,629

CarVal

CLO

II,

Ltd.

1,225,000

7.588%, 

(TSFR3M

+

2.262%),

4/20/2032,

Ser.

2019-1A,

Class

CR

b,f

1,207,217

CarVal

CLO

VIII-C,

Ltd.

1,500,000

7.646%, 

(TSFR3M

+

2.300%),

10/22/2035,

Ser.

2022-2A,

Class

A

b,f

1,508,255

1,000,000

8.346%, 

(TSFR3M

+

3.000%),

10/22/2035,

Ser.

2022-2A,

Class

B1

b,f

1,005,671

CMFT

Net

Lease

Master

Issuer,

LLC

1,316,844

2.090%, 

7/20/2051,

Ser.

2021-1,

Class

A1

f

1,085,840

Commonbond

Student

Loan

Trust

201,811

5.934%, 

(TSFR1M

+

0.614%),

2/25/2044,

Ser.

2018-AGS,

Class

A2

b,f

196,566

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

283

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Asset-Backed

Securities

(1.1%)

-

continued

Dryden

36

Senior

Loan

Fund

$

1,800,000

7.620%, 

(TSFR3M

+

2.312%),

4/15/2029,

Ser.

2014-36A,

Class

CR3

b,f

$

1,772,356

Foundation

Finance

Trust

843,532

1.270%, 

5/15/2041,

Ser.

2021-1A,

Class

A

f

743,797

FRTKL

Trust

2,350,000

1.922%, 

9/17/2038,

Ser.

2021-SFR1,

Class

C

f

2,040,842

Goodgreen

1,501,679

3.860%, 

10/15/2054,

Ser.

2019-1A,

Class

A

f

1,345,440

Home

Partners

of

America

Trust

2,502,890

2.302%, 

12/17/2026,

Ser.

2021-2,

Class

B

f

2,201,045

2,058,523

2.078%, 

9/17/2041,

Ser.

2021-1,

Class

C

f

1,677,537

Laurel

Road

Prime

Student

Loan

Trust

37,688

2.810%, 

11/25/2042,

Ser.

2017-C,

Class

A2B

f

37,304

718,835

Zero

Coupon, 

11/25/2043,

Ser.

2018-D,

Class

A

b,f

666,372

Longfellow

Place

CLO,

Ltd.

950,000

7.870%, 

(TSFR3M

+

2.562%),

4/15/2029,

Ser.

2013-1A,

Class

CR3

b,f

947,361

Mercury

Financial

Credit

Card

Master

Trust

2,600,000

2.500%, 

9/21/2026,

Ser.

2022-1A,

Class

A

f

2,488,840

National

Collegiate

Trust

572,534

5.729%, 

(LIBOR

1M

+

0.295%),

5/25/2031,

Ser.

2007-A,

Class

A

b,f

554,424

Oak

Street

Investment

1,711,061

1.850%, 

11/20/2050,

Ser.

2020-1A,

Class

A1

f

1,516,738

Preston

Ridge

Partners

Mortgage

Trust,

LLC

1,335,265

2.115%, 

1/25/2026,

Ser.

2021-1,

Class

A1

b,f

1,257,593

Pretium

Mortgage

Credit

Partners,

LLC

1,166,013

5.240%, 

4/25/2052,

Ser.

2022-NPL2,

Class

A1

f,g

1,132,986

674,149

2.240%, 

9/27/2060,

Ser.

2021-NPL1,

Class

A1

f,g

650,555

Progress

Residential

Trust

1,200,000

1.888%, 

5/17/2026,

Ser.

2021-SFR3,

Class

B

f

1,066,662

Renaissance

Home

Equity

Loan

Trust

2,167,539

5.580%, 

11/25/2036,

Ser.

2006-3,

Class

AF2

g

766,404

Saxon

Asset

Securities

Trust

860,035

2.869%, 

8/25/2035,

Ser.

2004-2,

Class

MF2

b

713,666

Tricon

Residential

Trust

1,500,000

2.244%, 

7/17/2038,

Ser.

2021-SFR1,

Class

B

f

1,338,453

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Asset-Backed

Securities

(1.1%)

-

continued

VCAT

Asset

Securitization,

LLC

$

1,150,000

4.826%, 

12/26/2050,

Ser.

2021-NPL1,

Class

A2

f,g

$

1,036,130

Vericrest

Opportunity

Loan

Transferee

1,014,972

1.893%, 

2/27/2051,

Ser.

2021-NPL2,

Class

A1

f,g

942,926

764,490

2.116%, 

4/25/2051,

Ser.

2021-NPL8,

Class

A1

f,g

711,252

900,000

4.949%, 

4/25/2051,

Ser.

2021-NPL8,

Class

A2

f,g

680,493

825,000

5.438%, 

12/26/2051,

Ser.

2021-NP12,

Class

A2

f,g

621,596

Wind

River

CLO,

Ltd.

1,275,000

7.588%, 

(TSFR3M

+

2.262%),

7/20/2030,

Ser.

2013-1A,

Class

BRR

b,f

1,266,733

Total

42,953,591

Basic

Materials

(0.3%)

Alcoa

Nederland

Holding

BV

393,000

5.500%, 

12/15/2027

f

373,308

Anglo

American

Capital

plc

675,000

3.875%, 

3/16/2029

f

604,866

ATI,

Inc.

272,000

7.250%, 

8/15/2030

269,960

Cascades,

Inc./Cascades

USA,

Inc.

290,000

5.125%, 

1/15/2026

f

277,604

Chemours

Company

420,000

5.750%, 

11/15/2028

f

364,518

Cleveland-Cliffs,

Inc.

360,000

5.875%, 

6/1/2027

h

342,652

230,000

4.625%, 

3/1/2029

f,h

200,345

Consolidated

Energy

Finance

SA

688,000

5.625%, 

10/15/2028

f

568,460

EIDP,

Inc.

536,000

4.500%, 

5/15/2026

522,077

First

Quantum

Minerals,

Ltd.

724,000

6.875%, 

10/15/2027

f

694,589

FMC

Corporation

519,000

5.150%, 

5/18/2026

504,227

Glencore

Funding,

LLC

536,000

3.375%, 

9/23/2051

f

321,719

765,000

4.000%, 

3/27/2027

f

718,070

515,000

6.125%, 

10/6/2028

e,f

514,116

Hecla

Mining

Company

175,000

7.250%, 

2/15/2028

169,311

Hudbay

Minerals,

Inc.

410,000

4.500%, 

4/1/2026

f

383,586

Illuminate

Buyer,

LLC/Illuminate

Holdings

IV,

Inc.

302,000

9.000%, 

7/1/2028

f

285,224

International

Flavors

&

Fragrances,

Inc.

560,000

1.230%, 

10/1/2025

f

501,983

Methanex

Corporation

385,000

4.250%, 

12/1/2024

374,712

Mineral

Resources,

Ltd.

82,000

9.250%, 

10/1/2028

f

82,820

Mosaic

Company

630,000

4.050%, 

11/15/2027

h

591,359

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

284

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Basic

Materials

(0.3%)

-

continued

Novelis

Corporation

$

160,000

3.250%, 

11/15/2026

f

$

142,895

210,000

4.750%, 

1/30/2030

f

181,744

160,000

3.875%, 

8/15/2031

f

127,774

Nutrien,

Ltd.

268,000

4.900%, 

3/27/2028

258,839

OCI

NV

278,000

4.625%, 

10/15/2025

f

262,836

Olin

Corporation

580,000

5.125%, 

9/15/2027

542,306

SCIL

IV,

LLC/SCIL

USA

Holdings,

LLC

423,000

5.375%, 

11/1/2026

f

386,503

SNF

Group

SACA

409,000

3.375%, 

3/15/2030

f

330,105

SunCoke

Energy,

Inc.

438,000

4.875%, 

6/30/2029

f

372,180

Taseko

Mines,

Ltd.

298,000

7.000%, 

2/15/2026

f

278,371

Unifrax

Escrow

Issuer

Corporation

373,000

5.250%, 

9/30/2028

f

265,630

United

States

Steel

Corporation

438,000

6.875%, 

3/1/2029

430,578

Total

12,245,267

Capital

Goods

(0.7%)

Advanced

Drainage

Systems,

Inc.

375,000

6.375%, 

6/15/2030

f

360,169

AECOM

645,000

5.125%, 

3/15/2027

610,882

Amsted

Industries,

Inc.

465,000

5.625%, 

7/1/2027

f

438,269

ARD

Finance

SA

131,000

6.500%, 

6/30/2027

f

98,832

Ardagh

Packaging

Finance

plc/

Ardagh

Holdings

USA,

Inc.

280,000

5.250%, 

8/15/2027

f

233,659

294,000

5.250%, 

8/15/2027

f,h

245,342

Boeing

Company

1,137,000

5.930%, 

5/1/2060

1,020,933

551,000

5.040%, 

5/1/2027

537,975

1,250,000

5.705%, 

5/1/2040

1,153,253

Bombardier,

Inc.

39,000

7.125%, 

6/15/2026

f

37,785

520,000

7.875%, 

4/15/2027

f

507,388

350,000

6.000%, 

2/15/2028

f

317,519

Brand

Industrial

Services,

Inc.

131,000

10.375%, 

8/1/2030

f

131,202

Builders

FirstSource,

Inc.

265,000

5.000%, 

3/1/2030

f

236,276

Canpack

SA/Canpack

US,

LLC

540,000

3.125%, 

11/1/2025

f

498,140

Carrier

Global

Corporation

762,000

2.700%, 

2/15/2031

617,683

Chart

Industries,

Inc.

411,000

7.500%, 

1/1/2030

f

413,252

Clean

Harbors,

Inc.

548,000

6.375%, 

2/1/2031

f

532,859

Clydesdale

Acquisition

Holdings,

Inc.

55,000

6.625%, 

4/15/2029

f

51,138

110,000

8.750%, 

4/15/2030

f

94,342

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Capital

Goods

(0.7%)

-

continued

CNH

Industrial

NV

$

365,000

3.850%, 

11/15/2027

$

339,714

Cornerstone

Building

Brands,

Inc.

283,000

6.125%, 

1/15/2029

f

214,541

Covanta

Holding

Corporation

208,000

4.875%, 

12/1/2029

f

170,643

CP

Atlas

Buyer,

Inc.

380,000

7.000%, 

12/1/2028

f,h

297,972

Crown

Cork

&

Seal

Company,

Inc.

353,000

7.375%, 

12/15/2026

358,295

Emerald

Debt

Merger

Sub,

LLC

414,000

6.625%, 

12/15/2030

f

398,547

GFL

Environmental,

Inc.

339,000

4.000%, 

8/1/2028

f

296,207

550,000

3.500%, 

9/1/2028

f

473,501

H&E

Equipment

Services,

Inc.

697,000

3.875%, 

12/15/2028

f

595,164

Herc

Holdings,

Inc.

350,000

5.500%, 

7/15/2027

f

330,979

Howmet

Aerospace,

Inc.

900,000

3.000%, 

1/15/2029

761,813

805,000

5.950%, 

2/1/2037

755,843

Ingersoll

Rand,

Inc.

128,000

5.700%, 

8/14/2033

123,535

John

Deere

Capital

Corporation

325,000

4.950%, 

7/14/2028

320,511

Lockheed

Martin

Corporation

774,000

4.500%, 

5/15/2036

705,395

284,000

6.150%, 

9/1/2036

297,913

Mauser

Packaging

Solutions

Holding

Company

216,000

9.250%, 

4/15/2027

f

188,802

MIWD

Holdco

II,

LLC

222,000

5.500%, 

2/1/2030

f

183,426

Mueller

Water

Products,

Inc.

232,000

4.000%, 

6/15/2029

f

202,050

Nesco

Holdings

II,

Inc.

425,000

5.500%, 

4/15/2029

f

372,938

New

Enterprise

Stone

and

Lime

Company,

Inc.

531,000

5.250%, 

7/15/2028

f

476,450

Nordson

Corporation

512,000

5.600%, 

9/15/2028

507,084

Northrop

Grumman

Corporation

935,000

3.850%, 

4/15/2045

696,160

OI

European

Group

BV

444,000

4.750%, 

2/15/2030

f

386,216

Owens-Brockway

Glass

Container,

Inc.

221,000

6.625%, 

5/13/2027

f

215,449

Pactiv

Evergreen

Group

320,000

4.375%, 

10/15/2028

f

277,651

Parker-Hannifin

Corporation

1,341,000

4.500%, 

9/15/2029

1,269,284

PGT

Innovations,

Inc.

426,000

4.375%, 

10/1/2029

f

392,807

Regal

Rexnord

Corporation

670,000

6.050%, 

2/15/2026

f

662,531

Republic

Services,

Inc.

510,000

2.900%, 

7/1/2026

476,942

Roller

Bearing

Company

of

America,

Inc.

314,000

4.375%, 

10/15/2029

f

270,091

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

285

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Capital

Goods

(0.7%)

-

continued

RTX

Corporation

$

414,000

4.125%, 

11/16/2028

$

386,037

775,000

4.450%, 

11/16/2038

652,018

Sealed

Air

Corporation

345,000

6.125%, 

2/1/2028

f

334,140

Silgan

Holdings,

Inc.

164,000

4.125%, 

2/1/2028

146,723

SRM

Escrow

Issuer,

LLC

615,000

6.000%, 

11/1/2028

f

567,929

Textron,

Inc.

710,000

3.375%, 

3/1/2028

642,010

Titan

Acquisition,

Ltd./Titan

Co-

Borrower,

LLC

180,000

7.750%, 

4/15/2026

f

176,400

Trane

Technologies

Financing,

Ltd.

375,000

3.500%, 

3/21/2026

355,929

TransDigm,

Inc.

438,000

6.250%, 

3/15/2026

f

430,370

1,271,000

5.500%, 

11/15/2027

1,190,101

Triumph

Group,

Inc.

353,000

9.000%, 

3/15/2028

f

349,049

United

Rentals

North

America,

Inc.

405,000

4.875%, 

1/15/2028

378,312

360,000

4.000%, 

7/15/2030

306,800

Veralto

Corporation

507,000

5.350%, 

9/18/2028

f

501,265

Waste

Management,

Inc.

515,000

4.875%, 

2/15/2034

487,382

Waste

Pro

USA,

Inc.

205,000

5.500%, 

2/15/2026

f

191,424

WESCO

Distribution,

Inc.

560,000

7.250%, 

6/15/2028

f

562,717

Total

28,813,958

Collateralized

Mortgage

Obligations

(1.6%)

Alternative

Loan

Trust

635,697

6.000%, 

8/1/2036,

Ser.

2006-24CB,

Class

A9

347,168

BINOM

Securitization

Trust

1,025,389

2.370%, 

6/25/2056,

Ser.

2021-INV1,

Class

A2

b,f

860,645

CHNGE

Mortgage

Trust

2,086,850

7.100%, 

7/25/2058,

Ser.

2023-3,

Class

A1

f,g

2,075,200

2,350,593

6.000%, 

10/25/2057,

Ser.

2022-4,

Class

A1

f,g

2,288,000

Citicorp

Mortgage

Securities,

Inc.

1,063,911

6.000%, 

7/25/2037,

Ser.

2007-6,

Class

1A4

905,733

COLT

Mortgage

Loan

Trust

2,003,599

1.726%, 

11/25/2066,

Ser.

2021-5,

Class

A1

b,f

1,641,356

Countrywide

Alternative

Loan

Trust

773,677

3.784%, 

10/25/2035,

Ser.

2005-43,

Class

4A1

b

624,138

1,107,901

7.000%, 

10/25/2037,

Ser.

2007-24,

Class

A10

400,121

Countrywide

Home

Loans,

Inc.

187,019

5.750%, 

4/25/2037,

Ser.

2007-3,

Class

A27

84,584

Credit

Suisse

Mortgage

Trust

1,300,000

3.346%, 

1/25/2067,

Ser.

2022-ATH1,

Class

A1B

b,f

1,094,787

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Collateralized

Mortgage

Obligations

(1.6%)

-

continued

$

1,875,000

4.000%, 

2/25/2067,

Ser.

2022-NQM2,

Class

A1B

b,f

$

1,584,234

1,209,118

6.567%, 

8/25/2067,

Ser.

2022-ATH3,

Class

A3

b,f

1,180,148

1,160,859

2.572%, 

11/25/2066,

Ser.

2022-NQM1,

Class

A2

b,f

918,558

Deutsche

Alt-A

Securities,

Inc.,

Mortgage

Loan

Trust

81,101

6.000%, 

10/25/2023,

Ser.

2006-AR5,

Class

23A

41,840

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

4,103,334

4.000%, 

1/25/2051,

Ser.

5249,

Class

LA

3,871,230

1,153,977

3.000%, 

2/15/2033,

Ser.

4170,

Class

IG

i

98,217

1,297,934

3.000%, 

3/15/2033,

Ser.

4180,

Class

PI

i

131,616

3,345,407

4.500%, 

10/15/2033,

Ser.

2695,

Class

BH

3,215,243

2,650,000

2.500%, 

12/15/2048,

Ser.

5094,

Class

BC

1,962,881

Federal

National

Mortgage

Association

-

REMIC

3,059,870

4.500%, 

6/25/2052,

Ser.

2022-43,

Class

MA

2,915,529

1,837,759

4.000%, 

7/25/2052,

Ser.

2022-37,

Class

PE

1,728,685

1,580,932

3.000%, 

12/25/2027,

Ser.

2012-137,

Class

AI

i

59,235

7,392,263

5.250%, 

7/25/2039,

Ser.

2022-72,

Class

CB

7,272,502

3,129,236

4.500%, 

1/25/2046,

Ser.

2022-68,

Class

BA

3,024,747

Flagstar

Mortgage

Trust

1,153,268

2.500%, 

9/25/2041,

Ser.

2021-9INV,

Class

A1

b,f

957,338

GCAT

Trust

1,570,291

1.855%, 

8/25/2066,

Ser.

2021-NQM6,

Class

A1

b,f

1,319,898

GS

Mortgage-Backed

Securities

Trust

2,566,098

3.000%, 

6/25/2052,

Ser.

2022-GR1,

Class

A2

b,f

2,024,813

J.P.

Morgan

Mortgage

Trust

2,257,936

2.500%, 

2/25/2052,

Ser.

2021-INV7,

Class

A2A

b,f

1,703,771

1,583,072

2.774%, 

5/25/2052,

Ser.

2021-LTV2,

Class

A2

b,f

1,231,216

LHOME

Mortgage

Trust

510,410

2.090%, 

2/25/2026,

Ser.

2021-RTL1,

Class

A1

b,f

507,832

610,727

2.090%, 

6/25/2026,

Ser.

2021-RTL2,

Class

A1

f,g

600,788

Mello

Mortgage

Capital

Acceptance

2,252,451

2.500%, 

8/25/2051,

Ser.

2021-INV2,

Class

A3

b,f

1,699,632

Merrill

Lynch

Alternative

Note

Asset

Trust

185,350

6.000%, 

3/25/2037,

Ser.

2007-F1,

Class

2A1

70,334

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

286

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Collateralized

Mortgage

Obligations

(1.6%)

-

continued

New

Residential

Mortgage

Loan

Trust

$

4,269,076

2.500%, 

9/25/2051,

Ser.

2021-INV2,

Class

A2

b,f

$

3,221,316

New

York

Mortgage

Trust

1,723,153

2.239%, 

5/25/2026,

Ser.

2021-BPL1,

Class

A1

f,g

1,707,069

Onslow

Bay

Financial,

LLC

1,400,000

3.688%, 

1/25/2062,

Ser.

2022-NQM3,

Class

A1B

b,f

1,141,690

Palisades

Mortgage

Loan

Trust

3,450,000

2.857%, 

6/25/2026,

Ser.

2021-RTL1,

Class

A1

f,g

3,346,616

Residential

Accredit

Loans,

Inc.

Trust

503,072

6.000%, 

8/25/2035,

Ser.

2005-QS10,

Class

2A

415,219

Residential

Asset

Securitization

Trust

1,621,818

5.375%, 

7/25/2035,

Ser.

2005-A8CB,

Class

A9

979,159

ROC

Securities

Trust

Series

2,000,000

2.487%, 

8/25/2026,

Ser.

2021-RTL1,

Class

A1

b,f

1,946,008

Sequoia

Mortgage

Trust

567,717

3.482%, 

9/20/2046,

Ser.

2007-1,

Class

4A1

b

385,697

Toorak

Mortgage

Corporation,

Ltd.

1,525,866

2.240%, 

6/25/2024,

Ser.

2021-1,

Class

A1

f,g

1,483,677

TRK

Trust

1,509,399

1.966%, 

11/25/2056,

Ser.

2021-INV2,

Class

A1

b,f

1,219,003

Vericrest

Opportunity

Loan

Transferee

1,053,312

2.116%, 

3/27/2051,

Ser.

2021-NPL5,

Class

A1

f,g

996,743

Verus

Securitization

Trust

911,722

2.286%, 

11/25/2066,

Ser.

2021-8,

Class

A2

b,f

735,802

Total

66,020,018

Commercial

Mortgage-Backed

Securities

(1.7%)

BANK

2022-BNK39

9,703,749

0.533%, 

2/15/2055,

Ser.

2022-BNK39,

Class

XA

b,i

260,141

BANK5

2023-5YR2

2,000,000

7.379%, 

6/15/2028,

Ser.

2023-5YR2,

Class

AS

b

2,024,647

BBCMS

Mortgage

Trust

5,384,285

0.839%, 

2/15/2055,

Ser.

2022-C14,

Class

XA

b,i

213,946

2,200,000

5.451%, 

4/15/2056,

Ser.

2023-C19,

Class

A5

2,128,973

17,273,281

1.325%, 

9/15/2055,

Ser.

2022-C17,

Class

XA

b,i

1,303,062

14,304,190

1.949%, 

10/15/2053,

Ser.

2020-C8,

Class

XA

b,i

1,230,073

Benchmark

Mortgage

Trust

2,470,000

2.669%, 

12/15/2054,

Ser.

2021-B31,

Class

A5

1,948,620

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Commercial

Mortgage-Backed

Securities

(1.7%)

-

continued

BFLD

Trust

$

825,000

7.147%, 

(TSFR1M

+

1.814%),

10/15/2035,

Ser.

2020-EYP,

Class

B

b,f

$

485,729

Federal

Home

Loan

Mortgage

Corporation

Multifamily

Structured

Pass

Through

Certificates

7,500,000

3.000%, 

6/25/2032,

Ser.

K147,

Class

A2

b,j

6,321,876

4,750,000

3.500%, 

7/25/2032,

Ser.

K148,

Class

A2

b,j

4,163,561

7,500,000

3.530%, 

8/25/2032,

Ser.

K149,

Class

A2

j

6,580,258

650,000

3.710%, 

9/25/2032,

Ser.

K-150,

Class

A2

b,j

577,756

7,150,000

3.800%, 

10/25/2032,

Ser.

K-151,

Class

A2

b,j

6,394,914

10,000,000

3.780%, 

11/25/2032,

Ser.

K-152,

Class

A2

b,j

8,928,710

9,050,000

3.820%, 

12/25/2032,

Ser.

K-153,

Class

A2

b,j

8,094,867

2,700,000

4.350%, 

1/25/2033,

Ser.

K-154,

Class

A2

b,j

2,516,440

6,000,000

4.200%, 

5/25/2033,

Ser.

K-157,

Class

A2

j

5,518,424

Federal

Home

Loan

Mortgage

Corporation

Multifamily

WI

Certificates

1,225,000

4.500%, 

11/25/2033,

Ser.

K159,

Class

A2

1,152,528

1,750,000

4.500%, 

12/25/2033,

Ser.

K160,

Class

A2

1,638,958

MIRA

Trust

2,200,000

6.755%, 

6/10/2038,

Ser.

2023-MILE,

Class

A

f

2,154,703

Morgan

Stanley

Capital

I

Trust

14,737,250

1.960%, 

7/15/2053,

Ser.

2020-HR8,

Class

XA

b,i

1,342,110

MSWF

Commercial

Mortgage

Trust

1,430,000

5.752%, 

5/15/2033,

Ser.

2023-1,

Class

A5

1,408,457

SCOTT

Trust

2,400,000

5.910%, 

3/15/2040,

Ser.

2023-SFS,

Class

A

f

2,326,304

Total

68,715,057

Communications

Services

(1.1%)

Activision

Blizzard,

Inc.

1,071,000

2.500%, 

9/15/2050

637,772

Allen

Media,

LLC/Allen

Media

Co-

Issuer,

Inc.

371,000

10.500%, 

2/15/2028

f

212,201

Altice

Financing

SA

190,000

5.750%, 

8/15/2029

f

155,711

Altice

France

SA/France

200,000

8.125%, 

2/1/2027

f

177,359

381,000

5.125%, 

7/15/2029

f

270,855

346,000

5.500%, 

10/15/2029

f

248,814

AMC

Networks,

Inc.

170,000

5.000%, 

4/1/2024

167,652

530,000

4.250%, 

2/15/2029

325,205

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

287

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Communications

Services

(1.1%)

-

continued

American

Tower

Corporation

$

450,000

3.375%, 

10/15/2026

$

418,936

360,000

5.500%, 

3/15/2028

353,192

505,000

5.800%, 

11/15/2028

501,199

660,000

2.900%, 

1/15/2030

548,340

401,000

5.650%, 

3/15/2033

385,468

AT&T,

Inc.

805,000

3.650%, 

6/1/2051

519,059

1,129,000

3.500%, 

9/15/2053

697,552

558,000

2.300%, 

6/1/2027

494,079

996,000

4.350%, 

3/1/2029

926,900

522,000

5.400%, 

2/15/2034

488,539

1,026,000

4.900%, 

8/15/2037

888,809

CCO

Holdings,

LLC/CCO

Holdings

Capital

Corporation

130,000

5.500%, 

5/1/2026

f

125,570

640,000

5.125%, 

5/1/2027

f

596,298

328,000

5.000%, 

2/1/2028

f

297,869

71,000

6.375%, 

9/1/2029

f

66,205

770,000

4.750%, 

3/1/2030

f

646,377

510,000

4.500%, 

8/15/2030

f

418,615

220,000

4.250%, 

2/1/2031

f

175,128

96,000

4.750%, 

2/1/2032

f

76,800

350,000

4.250%, 

1/15/2034

f

257,697

Cengage

Learning,

Inc.

17,000

9.500%, 

6/15/2024

f

17,014

Charter

Communications

Operating,

LLC/Charter

Communications

Operating

Capital

Corporation

803,000

4.200%, 

3/15/2028

737,024

1,225,000

3.500%, 

6/1/2041

774,664

Cimpress

plc

272,000

7.000%, 

6/15/2026

254,568

Clear

Channel

Outdoor

Holdings,

Inc.

81,000

7.500%, 

6/1/2029

f,h

61,935

Clear

Channel

Worldwide

Holdings,

Inc.

646,000

5.125%, 

8/15/2027

f

573,643

Comcast

Corporation

803,000

5.350%, 

5/15/2053

732,177

690,000

2.887%, 

11/1/2051

406,645

672,000

4.250%, 

10/15/2030

619,026

690,000

4.400%, 

8/15/2035

609,447

1,115,000

4.750%, 

3/1/2044

935,960

Connect

Finco

SARL/Connect

US

Finco,

LLC

212,000

6.750%, 

10/1/2026

f

197,732

CSC

Holdings,

LLC

960,000

5.375%, 

2/1/2028

f

781,547

402,000

6.500%, 

2/1/2029

f

333,031

86,000

4.125%, 

12/1/2030

f

60,863

Deutsche

Telekom

International

Finance

BV

1,335,000

8.750%, 

6/15/2030

1,529,165

DIRECTV

Financing,

LLC/DIRECTV

Financing

Co-Obligor,

Inc.

756,000

5.875%, 

8/15/2027

f

668,440

Discovery

Communications,

LLC

1,001,000

4.900%, 

3/11/2026

976,996

DISH

DBS

Corporation

143,000

5.875%, 

11/15/2024

133,103

194,000

5.250%, 

12/1/2026

f

164,871

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Communications

Services

(1.1%)

-

continued

$

142,000

7.375%, 

7/1/2028

$

89,473

261,000

5.750%, 

12/1/2028

f

200,644

218,000

5.125%, 

6/1/2029

120,855

DISH

Network

Corporation

198,000

11.750%, 

11/15/2027

f

199,478

Frontier

Communications

Holdings,

LLC

457,000

5.875%, 

10/15/2027

f

415,627

167,000

6.750%, 

5/1/2029

f,h

128,486

103,000

8.750%, 

5/15/2030

f

97,796

GCI,

LLC

405,000

4.750%, 

10/15/2028

f

349,312

Gray

Escrow

II,

Inc.

571,000

5.375%, 

11/15/2031

f

373,684

Gray

Television,

Inc.

395,000

4.750%, 

10/15/2030

f

261,676

Hughes

Satellite

Systems

Corporation

270,000

6.625%, 

8/1/2026

230,850

Iliad

Holding

SASU

510,000

6.500%, 

10/15/2026

f

479,152

Lamar

Media

Corporation

223,000

3.625%, 

1/15/2031

181,602

LCPR

Senior

Secured

Financing

DAC

324,000

6.750%, 

10/15/2027

f

297,594

Level

3

Financing,

Inc.

629,000

4.625%, 

9/15/2027

f

452,356

320,000

4.250%, 

7/1/2028

f

199,371

198,000

10.500%, 

5/15/2030

f

199,304

McGraw-Hill

Education,

Inc.

302,000

5.750%, 

8/1/2028

f

260,551

29,000

8.000%, 

8/1/2029

f

25,157

Meta

Platforms,

Inc.

402,000

5.600%, 

5/15/2053

380,477

536,000

4.800%, 

5/15/2030

522,086

1,073,000

3.850%, 

8/15/2032

951,960

Netflix,

Inc.

450,000

5.875%, 

11/15/2028

452,547

480,000

5.375%, 

11/15/2029

f

468,351

450,000

4.875%, 

6/15/2030

f

426,019

News

Corporation

395,000

3.875%, 

5/15/2029

f

339,700

NTT

Finance

Corporation

940,000

4.372%, 

7/27/2027

f

905,469

Omnicom

Group,

Inc.

530,000

3.600%, 

4/15/2026

503,417

330,000

4.200%, 

6/1/2030

295,577

Outfront

Media

Capital,

LLC/

Outfront

Media

Capital

Corporation

224,000

6.250%, 

6/15/2025

f

219,458

164,000

4.625%, 

3/15/2030

f,h

128,922

Playtika

Holding

Corporation

348,000

4.250%, 

3/15/2029

f

290,580

Radiate

Holdco,

LLC/Radiate

Finance,

Inc.

235,000

6.500%, 

9/15/2028

f

123,375

Scripps

Escrow

II,

Inc.

156,000

3.875%, 

1/15/2029

f

117,318

Sirius

XM

Radio,

Inc.

535,000

5.000%, 

8/1/2027

f

488,669

295,000

4.000%, 

7/15/2028

f

251,803

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

288

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Communications

Services

(1.1%)

-

continued

Sprint

Capital

Corporation

$

1,308,000

8.750%, 

3/15/2032

$

1,513,155

Take-Two

Interactive

Software,

Inc.

533,000

4.950%, 

3/28/2028

515,124

TEGNA,

Inc.

586,000

4.625%, 

3/15/2028

506,890

Telecom

Italia

Capital

SA

126,000

6.000%, 

9/30/2034

105,056

Telecom

Italia

SPA/Milano

173,000

5.303%, 

5/30/2024

f

170,092

Telesat

Canada/Telesat,

LLC

215,000

4.875%, 

6/1/2027

f,h

139,322

80,000

6.500%, 

10/15/2027

f

40,800

T-Mobile

USA,

Inc.

1,343,000

3.600%, 

11/15/2060

830,788

900,000

4.375%, 

4/15/2040

723,175

United

States

Cellular

Corporation

360,000

6.700%, 

12/15/2033

350,100

Uniti

Group,

LP/Uniti

Group

Finance,

Inc./CSL

Capital,

LLC

529,000

4.750%, 

4/15/2028

f

431,972

Univision

Communications,

Inc.

420,000

6.625%, 

6/1/2027

f

391,157

Verizon

Communications,

Inc.

806,000

3.000%, 

11/20/2060

436,409

2,342,000

2.650%, 

11/20/2040

1,482,529

1,219,000

3.400%, 

3/22/2041

864,199

VTR

Finance

NV

270,000

6.375%, 

7/15/2028

f

100,774

VZ

Secured

Financing

BV

561,000

5.000%, 

1/15/2032

f

440,696

Warnermedia

Holdings,

Inc.

939,000

5.141%, 

3/15/2052

697,715

805,000

4.054%, 

3/15/2029

717,224

805,000

5.050%, 

3/15/2042

622,578

YPSO

Finance

BIS

SA

176,000

10.500%, 

5/15/2027

f

109,768

Total

44,264,271

Consumer

Cyclical

(1.1%)

1011778

B.C.,

ULC/New

Red

Finance,

Inc.

640,000

4.375%, 

1/15/2028

f

576,863

Adient

Global

Holdings,

Ltd.

225,000

4.875%, 

8/15/2026

f

212,207

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation

230,000

6.625%, 

7/15/2026

f

217,934

235,000

6.000%, 

6/1/2029

f

175,190

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation/

Atlas

Luxco

4

SARL

330,000

4.625%, 

6/1/2028

f

275,009

285,000

4.625%, 

6/1/2028

f

236,606

Allison

Transmission,

Inc.

224,000

3.750%, 

1/30/2031

f

181,082

Amazon.com,

Inc.

670,000

3.875%, 

8/22/2037

571,937

American

Axle

&

Manufacturing,

Inc.

660,000

6.500%, 

4/1/2027

626,624

Arko

Corporation

264,000

5.125%, 

11/15/2029

f

212,927

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Consumer

Cyclical

(1.1%)

-

continued

Ashton

Woods

USA,

LLC/Ashton

Woods

Finance

Company

$

260,000

4.625%, 

8/1/2029

f

$

219,405

160,000

4.625%, 

4/1/2030

f

130,975

Boyd

Gaming

Corporation

395,000

4.750%, 

6/15/2031

f

336,136

Boyne

USA,

Inc.

150,000

4.750%, 

5/15/2029

f

131,198

Brookfield

Residential

Properties,

Inc./Brookfield

Residential

US,

LLC

370,000

6.250%, 

9/15/2027

f

333,118

Caesars

Entertainment,

Inc.

608,000

6.250%, 

7/1/2025

f

599,678

135,000

8.125%, 

7/1/2027

f

135,644

426,000

4.625%, 

10/15/2029

f

360,848

Carnival

Corporation

262,000

7.625%, 

3/1/2026

f

254,869

647,000

5.750%, 

3/1/2027

f

585,680

162,000

4.000%, 

8/1/2028

f

140,466

Cedar

Fair,

LP

388,000

5.250%, 

7/15/2029

337,211

Churchill

Downs,

Inc.

265,000

4.750%, 

1/15/2028

f

239,041

164,000

6.750%, 

5/1/2031

f

154,980

Cinemark

USA,

Inc.

463,000

5.875%, 

3/15/2026

f,h

444,536

Clarios

Global,

LP/Clarios

US

Finance

Company,

Inc.

205,000

8.500%, 

5/15/2027

f,h

204,412

409,000

6.750%, 

5/15/2028

f

399,286

D.R.

Horton,

Inc.

274,000

2.600%, 

10/15/2025

256,381

Daimler

Trucks

Finance

North

America,

LLC

839,000

2.000%, 

12/14/2026

f

749,549

Expedia

Group,

Inc.

1,275,000

3.250%, 

2/15/2030

1,078,399

Ford

Motor

Company

636,000

3.250%, 

2/12/2032

490,142

359,000

6.100%, 

8/19/2032

h

338,147

Ford

Motor

Credit

Company,

LLC

859,000

2.300%, 

2/10/2025

805,714

1,100,000

4.134%, 

8/4/2025

1,042,892

690,000

2.700%, 

8/10/2026

615,732

300,000

7.350%, 

3/6/2030

303,803

Forestar

Group,

Inc.

275,000

3.850%, 

5/15/2026

f

249,615

General

Motors

Company

700,000

6.125%, 

10/1/2025

699,394

1,150,000

6.800%, 

10/1/2027

1,173,590

General

Motors

Financial

Company,

Inc.

450,000

1.500%, 

6/10/2026

397,620

GLP

Capital,

LP

1,004,000

5.750%, 

6/1/2028

962,636

Goodyear

Tire

&

Rubber

Company

270,000

5.000%, 

7/15/2029

232,557

Guitar

Center

Escrow

Issuer

II,

Inc.

127,000

8.500%, 

1/15/2026

f,h

110,301

Hanesbrands,

Inc.

367,000

4.875%, 

5/15/2026

f,h

336,451

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

289

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Consumer

Cyclical

(1.1%)

-

continued

Hilton

Domestic

Operating

Company,

Inc.

$

507,000

4.875%, 

1/15/2030

$

461,409

163,000

3.625%, 

2/15/2032

f

131,410

Hilton

Grand

Vacations

Borrower

Escrow,

LLC/Hilton

Grand

Vacations

Borrower

Escrow,

Inc.

263,000

5.000%, 

6/1/2029

f

228,138

Home

Depot,

Inc.

555,000

5.400%, 

9/15/2040

531,255

840,000

4.250%, 

4/1/2046

674,103

700,000

3.900%, 

6/15/2047

534,427

Hyundai

Capital

America

1,000,000

1.800%, 

1/10/2028

f

837,775

Hyundai

Capital

Services,

Inc.

535,000

2.125%, 

4/24/2025

f

503,347

International

Game

Technology

plc

445,000

5.250%, 

1/15/2029

f

410,072

Jacobs

Entertainment,

Inc.

223,000

6.750%, 

2/15/2029

f

197,912

Jaguar

Land

Rover

Automotive

plc

432,000

5.500%, 

7/15/2029

f

369,358

KB

Home

360,000

4.800%, 

11/15/2029

316,800

Kia

Corporation

405,000

2.375%, 

2/14/2025

f

386,271

Kohl's

Corporation

653,000

4.625%, 

5/1/2031

438,842

715,000

5.550%, 

7/17/2045

402,095

L

Brands,

Inc.

600,000

6.625%, 

10/1/2030

f

562,506

140,000

6.875%, 

11/1/2035

125,032

Lennar

Corporation

930,000

4.750%, 

5/30/2025

909,808

Light

&

Wonder

International,

Inc.

490,000

7.250%, 

11/15/2029

f

480,200

Lowe's

Companies,

Inc.

536,000

5.625%, 

4/15/2053

487,179

1,350,000

2.625%, 

4/1/2031

1,092,010

Macy's

Retail

Holdings,

LLC

390,000

5.875%, 

4/1/2029

f,h

341,480

Marriott

International,

Inc./MD

885,000

4.625%, 

6/15/2030

815,226

Mattamy

Group

Corporation

306,000

5.250%, 

12/15/2027

f

279,265

McDonald's

Corporation

1,140,000

4.450%, 

3/1/2047

928,575

Michaels

Companies,

Inc.

265,000

5.250%, 

5/1/2028

f,h

211,496

NCL

Corporation,

Ltd.

151,000

3.625%, 

12/15/2024

f

145,008

111,000

5.875%, 

3/15/2026

f

102,480

265,000

5.875%, 

2/15/2027

f

252,007

Nissan

Motor

Acceptance

Company,

LLC

880,000

1.125%, 

9/16/2024

f

835,327

Nissan

Motor

Company,

Ltd.

144,000

3.522%, 

9/17/2025

f

136,002

149,000

4.345%, 

9/17/2027

f

136,007

186,000

4.810%, 

9/17/2030

f

160,424

Nordstrom,

Inc.

132,000

4.375%, 

4/1/2030

h

101,548

187,000

4.250%, 

8/1/2031

h

135,617

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Consumer

Cyclical

(1.1%)

-

continued

PENN

Entertainment,

Inc.

$

395,000

4.125%, 

7/1/2029

f,h

$

322,788

PetSmart,

Inc./PetSmart

Finance

Corporation

520,000

4.750%, 

2/15/2028

f

455,228

350,000

7.750%, 

2/15/2029

f

326,161

Prime

Security

Services

Borrower,

LLC/Prime

Finance,

Inc.

688,000

5.750%, 

4/15/2026

f

667,476

305,000

6.250%, 

1/15/2028

f,h

282,481

Realogy

Group,

LLC/Realogy

Group

Co-Issuer

Corporation

500,000

5.750%, 

1/15/2029

f

361,475

Royal

Caribbean

Cruises,

Ltd.

61,000

11.500%, 

6/1/2025

f

64,393

628,000

4.250%, 

7/1/2026

f

575,808

254,000

9.250%, 

1/15/2029

f

268,335

132,000

7.250%, 

1/15/2030

f

130,824

Scientific

Games

Holdings,

LP/

Scientific

Games

US

FinCo,

Inc.

62,000

6.625%, 

3/1/2030

f

53,475

SeaWorld

Parks

and

Entertainment,

Inc.

249,000

5.250%, 

8/15/2029

f

218,722

Six

Flags

Theme

Parks,

Inc.

136,000

7.000%, 

7/1/2025

f

135,655

Staples,

Inc.

314,000

7.500%, 

4/15/2026

f

258,216

197,000

10.750%, 

4/15/2027

f,h

115,649

Starbucks

Corporation

670,000

4.750%, 

2/15/2026

660,141

Station

Casinos,

LLC

307,000

4.625%, 

12/1/2031

f

245,564

Target

Corporation

805,000

2.950%, 

1/15/2052

491,090

Tenneco,

Inc.

273,000

8.000%, 

11/17/2028

f

222,154

Toyota

Motor

Credit

Corporation

718,000

4.700%, 

1/12/2033

678,472

Tripadvisor,

Inc.

84,000

7.000%, 

7/15/2025

f

83,840

Uber

Technologies,

Inc.

310,000

6.250%, 

1/15/2028

f

303,138

VICI

Properties,

LP/VICI

Note

Company,

Inc.

1,489,000

4.625%, 

6/15/2025

f

1,437,912

500,000

5.750%, 

2/1/2027

f

484,034

342,000

3.750%, 

2/15/2027

f

310,335

Viking

Cruises,

Ltd.

534,000

5.875%, 

9/15/2027

f

487,382

Volkswagen

Group

of

America

Finance,

LLC

638,000

4.350%, 

6/8/2027

f

607,116

Wabash

National

Corporation

426,000

4.500%, 

10/15/2028

f

358,846

Walmart,

Inc.

804,000

4.500%, 

9/9/2052

690,638

Wyndham

Hotels

&

Resorts,

Inc.

215,000

4.375%, 

8/15/2028

f

193,109

Yum!

Brands,

Inc.

500,000

4.750%, 

1/15/2030

f

449,110

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

290

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Consumer

Cyclical

(1.1%)

-

continued

ZF

North

America

Capital,

Inc.

$

222,000

7.125%, 

4/14/2030

f

$

217,511

Total

44,954,274

Consumer

Non-Cyclical

(1.3%)

1375209

B.C.,

Ltd.

278,000

9.000%, 

1/30/2028

f

274,796

Abbott

Laboratories

1,408,000

4.750%, 

11/30/2036

1,337,663

AbbVie,

Inc.

575,000

2.950%, 

11/21/2026

533,606

1,250,000

4.300%, 

5/14/2036

1,096,386

450,000

4.850%, 

6/15/2044

390,476

675,000

4.875%, 

11/14/2048

589,874

AdaptHealth,

LLC

495,000

4.625%, 

8/1/2029

f

379,915

Albertsons

Companies,

Inc./

Safeway,

Inc./New

Albertsons,

LP/Albertsons,

LLC

521,000

4.625%, 

1/15/2027

f

491,938

566,000

3.500%, 

3/15/2029

f

482,563

Amgen,

Inc.

735,000

4.200%, 

2/22/2052

550,483

808,000

5.250%, 

3/2/2030

789,405

808,000

5.600%, 

3/2/2043

751,184

Anheuser-Busch

Companies,

LLC/Anheuser-Busch

InBev

Worldwide,

Inc.

1,230,000

4.700%, 

2/1/2036

1,127,340

Anheuser-Busch

InBev

Worldwide,

Inc.

1,510,000

4.375%, 

4/15/2038

1,309,061

802,000

5.550%, 

1/23/2049

768,150

Archer-Daniels-Midland

Company

924,000

2.700%, 

9/15/2051

554,237

AstraZeneca

plc

1,400,000

3.000%, 

5/28/2051

915,304

B&G

Foods,

Inc.

294,000

5.250%, 

4/1/2025

288,509

167,000

5.250%, 

9/15/2027

139,858

220,000

8.000%, 

9/15/2028

f

220,300

BAT

Capital

Corporation

268,000

7.750%, 

10/19/2032

283,085

500,000

7.079%, 

8/2/2043

479,612

Bausch

&

Lomb

Escrow

Corporation

82,000

8.375%, 

10/1/2028

f

82,244

Bausch

Health

Companies,

Inc.

153,000

5.500%, 

11/1/2025

f,h

135,498

562,000

4.875%, 

6/1/2028

f

319,602

370,000

11.000%, 

9/30/2028

f

251,026

Baxter

International,

Inc.

755,000

3.132%, 

12/1/2051

449,266

Becton,

Dickinson

and

Company

291,000

3.794%, 

5/20/2050

209,662

865,000

3.700%, 

6/6/2027

810,625

BellRing

Brands,

Inc.

232,000

7.000%, 

3/15/2030

f

228,441

Bristol-Myers

Squibb

Company

1,344,000

3.550%, 

3/15/2042

1,008,918

Cargill,

Inc.

809,000

3.125%, 

5/25/2051

f

518,692

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Consumer

Non-Cyclical

(1.3%)

-

continued

Catalent

Pharma

Solutions,

Inc.

$

274,000

3.125%, 

2/15/2029

f,h

$

224,733

Central

Garden

&

Pet

Company

500,000

4.125%, 

10/15/2030

416,857

Cheplapharm

Arzneimittel

GmbH

60,000

5.500%, 

1/15/2028

f

54,440

Chobani,

LLC/Chobani

Finance

Corporation,

Inc.

399,000

4.625%, 

11/15/2028

f

351,910

CHS/Community

Health

Systems,

Inc.

301,000

5.625%, 

3/15/2027

f

258,172

96,000

8.000%, 

12/15/2027

f

89,520

401,000

6.000%, 

1/15/2029

f

323,840

167,000

5.250%, 

5/15/2030

f

126,949

176,000

4.750%, 

2/15/2031

f

124,559

Constellation

Brands,

Inc.

810,000

3.600%, 

2/15/2028

745,080

475,000

2.875%, 

5/1/2030

398,647

Coty,

Inc./HFC

Prestige

Products,

Inc./HFC

Prestige

International

US,

LLC

493,000

4.750%, 

1/15/2029

f

444,573

273,000

6.625%, 

7/15/2030

f

266,541

CVS

Health

Corporation

1,205,000

5.625%, 

2/21/2053

1,083,050

602,000

5.125%, 

2/21/2030

579,018

1,295,000

4.875%, 

7/20/2035

1,157,877

Edgewell

Personal

Care

Company

290,000

5.500%, 

6/1/2028

f

267,887

Eli

Lilly

&

Company

401,000

4.950%, 

2/27/2063

363,817

Embecta

Corporation

128,000

6.750%, 

2/15/2030

f

104,640

Encompass

Health

Corporation

615,000

4.500%, 

2/1/2028

560,337

Energizer

Holdings,

Inc.

455,000

4.750%, 

6/15/2028

f

392,973

Fortrea

Holdings,

Inc.

212,000

7.500%, 

7/1/2030

f

206,279

General

Mills,

Inc.

214,000

4.950%, 

3/29/2033

200,513

Grifols

SA

381,000

4.750%, 

10/15/2028

f

324,844

HCA,

Inc.

921,000

3.500%, 

9/1/2030

779,189

HLF

Financing

SARL,

LLC/

Herbalife

International,

Inc.

726,000

4.875%, 

6/1/2029

f

515,460

Imperial

Brands

Finance

plc

1,200,000

3.875%, 

7/26/2029

f

1,056,479

Jazz

Securities

DAC

223,000

4.375%, 

1/15/2029

f

194,430

JBS

USA

LUX

SA/JBS

USA

Food

Company/JBS

Luxembourg

SARL

515,000

6.750%, 

3/15/2034

f

501,090

JBS

USA

LUX

SA/JBS

USA

Food

Company/JBS

USA

Finance,

Inc.

268,000

4.375%, 

2/2/2052

178,107

533,000

5.500%, 

1/15/2030

497,575

743,000

3.000%, 

5/15/2032

560,506

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

291

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Consumer

Non-Cyclical

(1.3%)

-

continued

Kenvue,

Inc.

$

1,077,000

5.350%, 

3/22/2026

f

$

1,074,444

Kimberly-Clark

Corporation

710,000

3.900%, 

5/4/2047

544,961

Kraft

Heinz

Foods

Company

567,000

3.875%, 

5/15/2027

534,156

140,000

5.200%, 

7/15/2045

122,320

900,000

4.375%, 

6/1/2046

701,317

Lamb

Weston

Holdings,

Inc.

241,000

4.125%, 

1/31/2030

f

206,091

Legacy

LifePoint

Health,

LLC

163,000

4.375%, 

2/15/2027

f

140,180

LifePoint

Health,

Inc.

167,000

11.000%, 

10/15/2030

f

167,000

Mattel,

Inc.

548,000

3.375%, 

4/1/2026

f

506,735

670,000

5.450%, 

11/1/2041

552,633

Medtronic,

Inc.

804,000

4.375%, 

3/15/2035

728,257

ModivCare

Escrow

Issuer,

Inc.

136,000

5.000%, 

10/1/2029

f

97,580

ModivCare,

Inc.

109,000

5.875%, 

11/15/2025

f

103,611

Mozart

Debt

Merger

Sub,

Inc.

391,000

3.875%, 

4/1/2029

f

330,560

262,000

5.250%, 

10/1/2029

f,h

226,446

Newell

Brands,

Inc.

774,000

4.700%, 

4/1/2026

729,412

Organon

&

Company/Organon

Foreign

Debt

Co-Issuer

BV

384,000

4.125%, 

4/30/2028

f

333,661

225,000

5.125%, 

4/30/2031

f

180,304

Owens

&

Minor,

Inc.

371,000

6.625%, 

4/1/2030

f,h

329,294

PepsiCo,

Inc.

725,000

4.200%, 

7/18/2052

598,990

Perrigo

Finance

Unlimited

Company

397,000

4.375%, 

3/15/2026

371,203

Pfizer

Investment

Enterprises

Pte,

Ltd.

1,204,000

5.300%, 

5/19/2053

1,118,700

401,000

4.750%, 

5/19/2033

379,056

509,000

5.110%, 

5/19/2043

467,439

Philip

Morris

International,

Inc.

803,000

4.875%, 

2/13/2026

789,817

550,000

5.125%, 

11/17/2027

538,555

512,000

5.500%, 

9/7/2030

497,863

802,000

5.375%, 

2/15/2033

760,165

Post

Holdings,

Inc.

322,000

4.500%, 

9/15/2031

f

267,999

Primo

Water

Holdings,

Inc.

333,000

4.375%, 

4/30/2029

f

284,715

RegionalCare

Hospital

Partners

Holdings,

Inc./LifePoint

Health,

Inc.

163,000

9.750%, 

12/1/2026

f

157,802

Reynolds

American,

Inc.

952,000

5.700%, 

8/15/2035

851,750

Roche

Holdings,

Inc.

768,000

4.000%, 

11/28/2044

f

622,541

Scotts

Miracle-Gro

Company

152,000

4.500%, 

10/15/2029

124,264

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Consumer

Non-Cyclical

(1.3%)

-

continued

SEG

Holding,

LLC

$

560,000

5.625%, 

10/15/2028

f

$

561,400

Simmons

Foods,

Inc.

315,000

4.625%, 

3/1/2029

f

258,402

Spectrum

Brands,

Inc.

250,000

5.000%, 

10/1/2029

f

226,525

210,000

5.500%, 

7/15/2030

f

190,407

310,000

3.875%, 

3/15/2031

f

251,509

Star

Parent,

Inc.

274,000

9.000%, 

10/1/2030

f

276,878

Sysco

Corporation

797,000

6.600%, 

4/1/2040

814,436

Takeda

Pharmaceutical

Company,

Ltd.

800,000

3.175%, 

7/9/2050

506,238

Teleflex,

Inc.

630,000

4.250%, 

6/1/2028

f

563,566

Tenet

Healthcare

Corporation

1,120,000

5.125%, 

11/1/2027

1,042,311

205,000

6.125%, 

10/1/2028

192,444

330,000

6.750%, 

5/15/2031

f

318,275

Teva

Pharmaceutical

Finance

Netherlands

III

BV

297,000

3.150%, 

10/1/2026

264,707

TreeHouse

Foods,

Inc.

438,000

4.000%, 

9/1/2028

h

355,328

Wyeth,

LLC

525,000

6.500%, 

2/1/2034

564,629

Zoetis,

Inc.

1,266,000

4.700%, 

2/1/2043

1,091,224

Total

54,035,711

Energy

(1.0%)

Antero

Midstream

Partners,

LP/

Antero

Midstream

Finance

Corporation

106,000

5.375%, 

6/15/2029

f

97,052

Antero

Resources

Corporation

146,000

5.375%, 

3/1/2030

f

134,418

Archrock

Partners,

LP/Archrock

Partners

Finance

Corporation

480,000

6.250%, 

4/1/2028

f

446,892

Baytex

Energy

Corporation

274,000

8.500%, 

4/30/2030

f

277,241

BP

Capital

Markets

America,

Inc.

1,707,000

2.939%, 

6/4/2051

1,042,225

Buckeye

Partners,

LP

480,000

3.950%, 

12/1/2026

431,035

Callon

Petroleum

Company

177,000

7.500%, 

6/15/2030

f,h

171,615

Canadian

Natural

Resources,

Ltd.

430,000

2.950%, 

7/15/2030

356,639

Cheniere

Energy

Partners,

LP

2,144,000

4.500%, 

10/1/2029

1,941,335

Chesapeake

Energy

Corporation

208,000

6.750%, 

4/15/2029

f

203,549

Chord

Energy

Corporation

207,000

6.375%, 

6/1/2026

f

202,968

Civitas

Resources,

Inc.

124,000

8.375%, 

7/1/2028

f

126,170

187,000

8.750%, 

7/1/2031

f

191,015

CNX

Resources

Corporation

159,000

6.000%, 

1/15/2029

f

148,574

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

292

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Energy

(1.0%)

-

continued

Columbia

Pipelines

Holding

Company,

LLC

$

514,000

6.042%, 

8/15/2028

f

$

511,395

Columbia

Pipelines

Operating

Company,

LLC

130,000

5.927%, 

8/15/2030

f

128,326

Comstock

Resources,

Inc.

330,000

5.875%, 

1/15/2030

f

285,658

Continental

Resources,

Inc.

936,000

2.268%, 

11/15/2026

f

829,248

CQP

Holdco,

LP/BIP-V

Chinnok

Holdco,

LLC

306,000

5.500%, 

6/15/2031

f

271,223

Crescent

Energy

Finance,

LLC

300,000

9.250%, 

2/15/2028

f

306,285

CrownRock,

LP/CrownRock

Finance,

Inc.

247,000

5.625%, 

10/15/2025

f

243,036

Diamond

Foreign

Asset

Company/

Diamond

Finance,

LLC

110,000

8.500%, 

10/1/2030

f

110,015

DT

Midstream,

Inc.

223,000

4.125%, 

6/15/2029

f

192,904

135,000

4.375%, 

6/15/2031

f

113,523

Enbridge,

Inc.

670,000

2.500%, 

2/14/2025

638,407

Enerflex,

Ltd.

224,000

9.000%, 

10/15/2027

f

221,200

Energy

Transfer,

LP

528,000

4.000%, 

10/1/2027

490,273

765,000

4.900%, 

3/15/2035

672,800

600,000

5.150%, 

2/1/2043

476,814

1,090,000

6.000%, 

6/15/2048

967,414

EnLink

Midstream

Partners,

LP

511,000

4.850%, 

7/15/2026

481,085

Enterprise

Products

Operating,

LLC

724,000

3.300%, 

2/15/2053

471,112

EQM

Midstream

Partners,

LP

754,000

4.750%, 

1/15/2031

f

648,997

EQT

Corporation

446,000

6.125%, 

2/1/2025

444,462

805,000

3.900%, 

10/1/2027

744,604

Exxon

Mobil

Corporation

1,200,000

3.452%, 

4/15/2051

839,607

Ferrellgas,

LP/Ferrellgas

Finance

Corporation

276,000

5.375%, 

4/1/2026

f

258,693

Genesis

Energy

LP/Genesis

Energy

Finance

Corporation

440,000

8.875%, 

4/15/2030

429,611

Halliburton

Company

662,000

4.850%, 

11/15/2035

595,335

537,000

5.000%, 

11/15/2045

455,207

Harvest

Midstream,

LP

589,000

7.500%, 

9/1/2028

f

569,346

Hess

Midstream

Operations,

LP

268,000

5.625%, 

2/15/2026

f

258,955

Hilcorp

Energy

I,

LP/Hilcorp

Finance

Company

430,000

5.750%, 

2/1/2029

f

388,287

318,000

6.250%, 

4/15/2032

f

282,750

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Energy

(1.0%)

-

continued

Howard

Midstream

Energy

Partners,

LLC

$

409,000

6.750%, 

1/15/2027

f

$

388,550

ITT

Holdings,

LLC

380,000

6.500%, 

8/1/2029

f

322,097

Laredo

Petroleum,

Inc.

471,000

7.750%, 

7/31/2029

f

438,183

Magellan

Midstream

Partners,

LP

423,000

5.000%, 

3/1/2026

415,166

MEG

Energy

Corporation

357,000

5.875%, 

2/1/2029

f

333,393

MPLX,

LP

660,000

4.875%, 

6/1/2025

647,371

1,073,000

4.950%, 

9/1/2032

977,193

202,000

5.000%, 

3/1/2033

184,070

Murphy

Oil

Corporation

240,000

5.875%, 

12/1/2027

232,897

Nabors

Industries,

Ltd.

505,000

7.250%, 

1/15/2026

f

487,956

National

Fuel

Gas

Company

935,000

5.500%, 

1/15/2026

919,541

New

Fortress

Energy,

Inc.

180,000

6.750%, 

9/15/2025

f

171,829

Noble

Finance

II,

LLC

273,000

8.000%, 

4/15/2030

f

276,570

Northern

Oil

and

Gas,

Inc.

276,000

8.750%, 

6/15/2031

f

278,070

Northriver

Midstream

Finance,

LP

134,000

5.625%, 

2/15/2026

f

127,695

NuStar

Logistics,

LP

252,000

5.750%, 

10/1/2025

245,070

Occidental

Petroleum

Corporation

1,269,000

7.875%, 

9/15/2031

1,373,186

Ovintiv,

Inc.

267,000

5.650%, 

5/15/2025

265,472

933,000

5.375%, 

1/1/2026

919,907

PBF

Holding

Company,

LLC/PBF

Finance

Corporation

219,000

6.000%, 

2/15/2028

206,554

Permian

Resources

Operating,

LLC

248,000

7.000%, 

1/15/2032

f

244,581

Phillips

66

Company

601,000

4.950%, 

12/1/2027

588,962

Precision

Drilling

Corporation

335,000

6.875%, 

1/15/2029

f

317,312

Range

Resources

Corporation

221,000

4.750%, 

2/15/2030

f

196,137

Rockcliff

Energy

II,

LLC

292,000

5.500%, 

10/15/2029

f

262,790

Rockies

Express

Pipeline,

LLC

81,000

4.950%, 

7/15/2029

f

72,146

SM

Energy

Company

131,000

6.625%, 

1/15/2027

128,380

200,000

6.500%, 

7/15/2028

192,000

Southwestern

Energy

Company

295,000

5.375%, 

3/15/2030

268,761

191,000

4.750%, 

2/1/2032

163,933

Suburban

Propane

Partners,

LP/

Suburban

Energy

Finance

Corporation

123,000

5.875%, 

3/1/2027

117,465

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

293

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Energy

(1.0%)

-

continued

Suncor

Energy,

Inc.

$

977,000

7.150%, 

2/1/2032

$

1,027,722

Sunoco,

LP/Sunoco

Finance

Corporation

385,000

5.875%, 

3/15/2028

369,336

Tallgrass

Energy

Partners

LP/

Tallgrass

Energy

Finance

Corporation

495,000

5.500%, 

1/15/2028

f

450,450

Targa

Resources

Corporation

939,000

4.200%, 

2/1/2033

798,420

Teine

Energy,

Ltd.

280,000

6.875%, 

4/15/2029

f

256,900

Transocean,

Inc.

265,000

11.500%, 

1/30/2027

f

277,919

406,600

8.750%, 

2/15/2030

f

415,749

USA

Compression

Partners,

LP/

USA

Compression

Finance

Corporation

371,000

6.875%, 

4/1/2026

363,410

Valaris,

Ltd.

272,000

8.375%, 

4/30/2030

f

272,204

Venture

Global

Calcasieu

Pass,

LLC

389,000

3.875%, 

8/15/2029

f

327,335

279,000

6.250%, 

1/15/2030

f

266,130

235,000

4.125%, 

8/15/2031

f

192,846

Venture

Global

LNG,

Inc.

562,000

8.375%, 

6/1/2031

f

552,481

Weatherford

International,

Ltd.

423,000

8.625%, 

4/30/2030

f

426,238

Western

Midstream

Operating,

LP

515,000

6.350%, 

1/15/2029

516,062

267,000

6.150%, 

4/1/2033

257,497

Williams

Companies,

Inc.

537,000

5.300%, 

8/15/2052

456,399

900,000

7.500%, 

1/15/2031

957,105

Total

39,044,740

Financials

(3.2%)

Acrisure,

LLC/Acrisure

Finance,

Inc.

94,000

6.000%, 

8/1/2029

f

78,992

AerCap

Ireland

Capital

DAC/

AerCap

Global

Aviation

Trust

570,000

3.500%, 

1/15/2025

549,853

581,000

6.100%, 

1/15/2027

578,156

950,000

3.875%, 

1/23/2028

861,552

475,000

3.400%, 

10/29/2033

367,423

Air

Lease

Corporation

1,350,000

3.000%, 

2/1/2030

1,110,367

Aircastle,

Ltd.

565,000

5.250%, 

8/11/2025

f

550,334

Alliant

Holdings

Intermediate,

LLC/

Alliant

Holdings

Co-Issuer,

Inc.

211,000

6.750%, 

10/15/2027

f

196,232

Ally

Financial,

Inc.

900,000

5.750%, 

11/20/2025

874,222

900,000

8.000%, 

11/1/2031

908,671

72,000

6.700%, 

2/14/2033

62,503

American

Homes

4

Rent,

LP

880,000

2.375%, 

7/15/2031

670,938

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Financials

(3.2%)

-

continued

American

International

Group,

Inc.

$

1,019,000

5.125%, 

3/27/2033

$

948,138

AmWINS

Group,

Inc.

255,000

4.875%, 

6/30/2029

f

223,438

ANZ

Bank

New

Zealand,

Ltd.

550,000

5.548%, 

8/11/2032

b,f

534,029

Aon

Corporation/Aon

Global

Holdings

plc

270,000

5.350%, 

2/28/2033

258,837

Ares

Capital

Corporation

397,000

3.250%, 

7/15/2025

371,876

975,000

3.875%, 

1/15/2026

912,322

450,000

2.150%, 

7/15/2026

394,811

Associated

Banc-Corp

650,000

4.250%, 

1/15/2025

625,087

Australia

&

New

Zealand

Banking

Group,

Ltd.

500,000

2.950%, 

7/22/2030

b,f

464,147

Avolon

Holdings

Funding,

Ltd.

471,000

5.250%, 

5/15/2024

f

466,470

250,000

4.250%, 

4/15/2026

f

234,974

Banco

Santander

Mexico

SA

675,000

5.375%, 

4/17/2025

f

663,427

Banco

Santander

SA

1,000,000

4.175%, 

3/24/2028

b

923,378

Bank

of

America

Corporation

924,000

5.080%, 

1/20/2027

b

903,166

500,000

1.734%, 

7/22/2027

b

443,080

1,210,000

3.824%, 

1/20/2028

b

1,123,655

467,000

5.202%, 

4/25/2029

b

449,863

450,000

2.087%, 

6/14/2029

b

376,710

1,200,000

2.496%, 

2/13/2031

b

961,727

1,250,000

1.922%, 

10/24/2031

b

943,043

804,000

2.972%, 

2/4/2033

b

633,998

1,609,000

4.571%, 

4/27/2033

b

1,428,524

760,000

5.872%, 

9/15/2034

b

739,617

1,075,000

3.846%, 

3/8/2037

b

874,356

Bank

of

Nova

Scotia

275,000

4.850%, 

2/1/2030

258,965

Barclays

plc

783,000

6.496%, 

9/13/2027

b

780,923

1,185,000

4.972%, 

5/16/2029

b

1,107,005

825,000

5.746%, 

8/9/2033

b

761,363

Berkshire

Hathaway

Finance

Corporation

1,071,000

2.850%, 

10/15/2050

666,343

Blackstone

Private

Credit

Fund

799,000

2.700%, 

1/15/2025

756,770

Blue

Owl

Capital

Corporation

225,000

4.250%, 

1/15/2026

210,496

Blue

Owl

Credit

Income

Corporation

670,000

4.700%, 

2/8/2027

609,680

Blue

Owl

Technology

Finance

Corporation

225,000

4.750%, 

12/15/2025

f

208,116

BNP

Paribas

SA

1,340,000

3.132%, 

1/20/2033

b,f

1,052,820

BPCE

SA

860,000

3.500%, 

10/23/2027

f

776,872

Brookfield

Property

REIT,

Inc./BPR

Cumulus,

LLC/BPR

Nimbus,

LLC/GGSI

Sellco,

LLC

95,000

4.500%, 

4/1/2027

f

79,169

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

294

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Financials

(3.2%)

-

continued

Burford

Capital

Global

Finance,

LLC

$

300,000

9.250%, 

7/1/2031

f

$

304,343

Camden

Property

Trust

1,500,000

3.150%, 

7/1/2029

1,328,901

Canadian

Imperial

Bank

of

Commerce

803,000

5.001%, 

4/28/2028

770,935

Capital

One

Financial

Corporation

1,000,000

4.200%, 

10/29/2025

953,545

805,000

2.636%, 

3/3/2026

b

759,733

Castlelake

Aviation

Finance

DAC

144,000

5.000%, 

4/15/2027

f

131,524

Centene

Corporation

1,312,000

2.625%, 

8/1/2031

1,004,864

Charles

Schwab

Corporation

1,340,000

2.450%, 

3/3/2027

1,193,596

518,000

6.136%, 

8/24/2034

b

503,888

Chubb

INA

Holdings,

Inc.

527,000

4.350%, 

11/3/2045

432,364

Citigroup,

Inc.

721,000

0.981%, 

5/1/2025

b

697,793

1,240,000

4.400%, 

6/10/2025

1,203,215

620,000

3.200%, 

10/21/2026

572,401

1,404,000

3.668%, 

7/24/2028

b

1,287,908

415,000

4.125%, 

7/25/2028

377,571

700,000

3.520%, 

10/27/2028

b

633,260

1,141,000

4.910%, 

5/24/2033

b

1,038,203

648,000

6.174%, 

5/25/2034

b

619,244

Cooperatieve

Rabobank

UA

1,071,000

5.564%, 

2/28/2029

b,f

1,043,835

Corebridge

Financial,

Inc.

536,000

4.400%, 

4/5/2052

392,125

402,000

4.350%, 

4/5/2042

303,968

Credit

Acceptance

Corporation

450,000

5.125%, 

12/31/2024

f

438,289

Credit

Agricole

SA

550,000

6.875%, 

9/23/2024

b,f,k

536,496

Credit

Suisse

Group

AG

775,000

7.250%, 

9/12/2025

b,f,k,l

73,625

Danske

Bank

AS

400,000

0.976%, 

9/10/2025

b,f

379,147

Deutsche

Bank

AG/New

York,

NY

950,000

3.729%, 

1/14/2032

b

707,174

Discover

Bank

1,410,000

5.974%, 

(USISOA05

+

1.730%),

8/9/2028

b

1,290,194

Drawbridge

Special

Opportunities

Fund,

LP

600,000

3.875%, 

2/15/2026

f

533,829

Elevance

Health,

Inc.

900,000

3.125%, 

5/15/2050

566,100

725,000

4.625%, 

5/15/2042

608,088

Enact

Holdings,

Inc.

209,000

6.500%, 

8/15/2025

f

205,846

EPR

Properties

355,000

4.950%, 

4/15/2028

314,556

Fifth

Third

Bancorp

356,000

6.339%, 

7/27/2029

b

351,680

First

Horizon

Bank

225,000

5.750%, 

5/1/2030

h

201,392

First

Horizon

National

Corporation

900,000

4.000%, 

5/26/2025

849,758

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Financials

(3.2%)

-

continued

First-Citizens

Bank

&

Trust

Company

$

1,005,000

6.125%, 

3/9/2028

$

998,217

Five

Corners

Funding

Trust

IV

536,000

5.997%, 

2/15/2053

f

507,715

Fortress

Transportation

and

Infrastructure

Investors,

LLC

279,000

6.500%, 

10/1/2025

f

274,214

139,000

9.750%, 

8/1/2027

f

143,773

69,000

5.500%, 

5/1/2028

f

62,555

Freedom

Mortgage

Corporation

110,000

12.000%, 

10/1/2028

f

111,854

FS

KKR

Capital

Corporation

955,000

4.250%, 

2/14/2025

f

914,407

1,137,000

3.400%, 

1/15/2026

1,041,932

GGAM

Finance,

Ltd.

274,000

7.750%, 

5/15/2026

f

271,261

Global

Net

Lease,

Inc./Global

Net

Lease

Operating

Partnership,

LP

517,000

3.750%, 

12/15/2027

f

400,285

Goldman

Sachs

Group,

Inc.

684,000

1.948%, 

10/21/2027

b

603,940

230,000

1.992%, 

1/27/2032

b

172,413

2,413,000

3.102%, 

2/24/2033

b

1,929,692

460,000

4.750%, 

10/21/2045

387,101

Healthpeak

OP,

LLC

173,000

3.400%, 

2/1/2025

166,984

HSBC

Holdings

plc

1,525,000

3.803%, 

3/11/2025

b

1,506,195

1,000,000

2.999%, 

3/10/2026

b

952,960

1,040,000

3.900%, 

5/25/2026

984,007

800,000

5.402%, 

8/11/2033

b

737,212

HUB

International,

Ltd.

416,000

5.625%, 

12/1/2029

f

362,235

Icahn

Enterprises,

LP/Icahn

Enterprises

Finance

Corporation

278,000

6.375%, 

12/15/2025

264,452

307,000

5.250%, 

5/15/2027

269,847

Intercontinental

Exchange,

Inc.

450,000

4.950%, 

6/15/2052

389,604

Invitation

Homes

Operating

Partnership,

LP

670,000

2.000%, 

8/15/2031

495,827

J.P.

Morgan

Chase

&

Company

450,000

0.824%, 

6/1/2025

b

433,194

725,000

1.040%, 

2/4/2027

b

645,217

714,000

1.578%, 

4/22/2027

b

637,196

1,075,000

2.947%, 

2/24/2028

b

975,189

1,350,000

4.203%, 

7/23/2029

b

1,251,123

700,000

2.522%, 

4/22/2031

b

567,405

975,000

1.953%, 

2/4/2032

b

739,414

1,073,000

4.586%, 

4/26/2033

b

967,251

805,000

4.912%, 

7/25/2033

b

740,640

1,125,000

3.882%, 

7/24/2038

b

898,261

Jefferies

Finance,

LLC/JFIN

Co-

Issuer

Corporation

112,000

5.000%, 

8/15/2028

f

94,305

KeyBank

NA/Cleveland,

OH

599,000

5.000%, 

1/26/2033

504,217

KeyCorp

425,000

3.878%, 

5/23/2025

b

409,696

Kimco

Realty

Corporation

749,000

3.300%, 

2/1/2025

720,558

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

295

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Financials

(3.2%)

-

continued

Lloyds

Banking

Group

plc

$

802,000

5.871%, 

3/6/2029

b

$

784,191

LPL

Holdings,

Inc.

340,000

4.000%, 

3/15/2029

f

296,433

Macquarie

Group,

Ltd.

961,000

1.201%, 

10/14/2025

b,f

911,238

Manufacturers

&

Traders

Trust

Company

803,000

4.700%, 

1/27/2028

741,613

Marsh

&

McLennan

Companies,

Inc.

201,000

5.450%, 

3/15/2053

187,625

504,000

5.400%, 

9/15/2033

490,698

Massachusetts

Mutual

Life

Insurance

Company

1,000,000

3.200%, 

12/1/2061

*

562,479

Mitsubishi

UFJ

Financial

Group,

Inc.

730,000

0.962%, 

10/11/2025

b

690,269

802,000

5.422%, 

2/22/2029

b

784,944

1,350,000

2.048%, 

7/17/2030

1,051,752

Molina

Healthcare,

Inc.

286,000

4.375%, 

6/15/2028

f

256,270

Morgan

Stanley

325,000

2.630%, 

2/18/2026

b

309,345

475,000

2.188%, 

4/28/2026

b

446,212

1,350,000

4.350%, 

9/8/2026

1,287,197

1,053,000

5.050%, 

1/28/2027

b

1,032,184

1,704,000

3.591%, 

7/22/2028

b

1,554,695

535,000

5.164%, 

4/20/2029

b

514,699

1,250,000

3.622%, 

4/1/2031

b

1,076,842

535,000

5.250%, 

4/21/2034

b

496,737

939,000

5.297%, 

4/20/2037

b

836,664

700,000

2.802%, 

1/25/2052

b

407,520

MPT

Operating

Partnership,

LP/

MPT

Finance

Corporation

385,000

4.625%, 

8/1/2029

272,681

Nasdaq,

Inc.

575,000

3.250%, 

4/28/2050

359,144

Nationstar

Mortgage

Holdings,

Inc.

277,000

6.000%, 

1/15/2027

f

261,744

NatWest

Group

plc

850,000

4.445%, 

5/8/2030

b

767,201

Necessity

Retail

REIT,

Inc./

American

Finance

Operating

Partner,

LP

327,000

4.500%, 

9/30/2028

f

248,383

New

York

Life

Global

Funding

812,000

4.550%, 

1/28/2033

f

744,405

NFP

Corporation

164,000

6.875%, 

8/15/2028

f

140,495

NNN

REIT,

Inc.

749,000

5.600%, 

10/15/2033

705,733

Office

Properties

Income

Trust

120,000

2.650%, 

6/15/2026

81,632

Omega

Healthcare

Investors,

Inc.

774,000

3.625%, 

10/1/2029

645,217

725,000

3.375%, 

2/1/2031

566,799

OneMain

Finance

Corporation

470,000

6.875%, 

3/15/2025

466,274

555,000

3.875%, 

9/15/2028

445,467

Park

Intermediate

Holdings,

LLC

444,000

4.875%, 

5/15/2029

f

375,602

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Financials

(3.2%)

-

continued

Pine

Street

Trust

I

$

805,000

4.572%, 

2/15/2029

f

$

724,364

PNC

Financial

Services

Group,

Inc.

748,000

5.812%, 

6/12/2026

b

742,031

1,074,000

4.626%, 

6/6/2033

b

926,505

PRA

Group,

Inc.

266,000

7.375%, 

9/1/2025

f

259,019

219,000

8.375%, 

2/1/2028

f

199,290

Principal

Life

Global

Funding

II

720,000

1.250%, 

8/16/2026

f

630,134

Prologis,

LP

536,000

2.875%, 

11/15/2029

459,718

Prudential

Financial,

Inc.

1,020,000

5.125%, 

3/1/2052

b

878,367

Radian

Group,

Inc.

270,000

4.875%, 

3/15/2027

252,281

Realty

Income

Corporation

341,000

4.125%, 

10/15/2026

326,641

Regency

Centers,

LP

1,180,000

4.125%, 

3/15/2028

1,091,944

RLJ

Lodging

Trust,

LP

140,000

3.750%, 

7/1/2026

f

126,615

295,000

4.000%, 

9/15/2029

f

241,587

Rocket

Mortgage,

LLC/Rocket

Mortgage

Co-Issuer,

Inc.

340,000

3.625%, 

3/1/2029

f

281,090

Royal

Bank

of

Canada

744,000

5.200%, 

7/20/2026

735,883

669,000

5.000%, 

5/2/2033

621,550

Santander

Holdings

USA,

Inc.

268,000

6.499%, 

3/9/2029

b

261,370

Santander

UK

Group

Holdings

plc

900,000

1.673%, 

6/14/2027

b

787,228

Service

Properties

Trust

159,000

4.650%, 

3/15/2024

156,833

90,000

4.350%, 

10/1/2024

86,337

302,000

7.500%, 

9/15/2025

296,695

290,000

5.500%, 

12/15/2027

247,844

Simon

Property

Group,

LP

805,000

3.800%, 

7/15/2050

546,727

SLM

Corporation

140,000

4.200%, 

10/29/2025

130,999

Societe

Generale

SA

840,000

4.750%, 

11/24/2025

f

803,463

Spirit

Realty,

LP

1,100,000

2.100%, 

3/15/2028

925,891

Standard

Chartered

plc

1,609,000

1.822%, 

11/23/2025

b,f

1,520,403

Sumitomo

Mitsui

Financial

Group,

Inc.

840,000

3.010%, 

10/19/2026

773,383

804,000

5.710%, 

1/13/2030

786,648

700,000

1.710%, 

1/12/2031

521,874

Synchrony

Financial

330,000

4.250%, 

8/15/2024

322,279

71,000

7.250%, 

2/2/2033

62,665

Synovus

Bank

1,049,000

5.625%, 

2/15/2028

950,469

Toronto-Dominion

Bank

804,000

5.156%, 

1/10/2028

784,697

608,000

5.523%, 

7/17/2028

600,120

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

296

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Financials

(3.2%)

-

continued

Truist

Financial

Corporation

$

519,000

6.047%, 

6/8/2027

b

$

513,355

383,000

5.125%, 

12/15/2027

b,k

294,221

699,000

5.122%, 

1/26/2034

b

624,870

U.S.

Bancorp

536,000

5.727%, 

10/21/2026

b

531,541

744,000

5.775%, 

6/12/2029

b

724,195

178,000

5.836%, 

6/12/2034

b

167,881

UBS

Group

AG

1,375,000

2.193%, 

6/5/2026

b,f

1,278,832

771,000

6.246%, 

9/22/2029

b,f

762,911

668,000

3.091%, 

5/14/2032

b,f

527,619

UDR,

Inc.

675,000

2.100%, 

8/1/2032

486,777

United

Wholesale

Mortgage,

LLC

89,000

5.500%, 

11/15/2025

f

84,655

218,000

5.500%, 

4/15/2029

f

184,210

UnitedHealth

Group,

Inc.

536,000

5.875%, 

2/15/2053

537,907

806,000

4.750%, 

5/15/2052

687,232

808,000

4.625%, 

7/15/2035

746,014

USI,

Inc./NY

112,000

6.875%, 

5/1/2025

f

111,137

Wells

Fargo

&

Company

363,000

3.000%, 

4/22/2026

338,132

1,140,000

3.000%, 

10/23/2026

1,046,968

805,000

3.526%, 

3/24/2028

b

739,291

1,200,000

2.393%, 

6/2/2028

b

1,052,363

480,000

5.574%, 

7/25/2029

b

468,284

441,000

5.389%, 

4/24/2034

b

412,294

930,000

4.900%, 

11/17/2045

745,953

Welltower

OP,

LLC

675,000

2.050%, 

1/15/2029

557,933

Willis

North

America,

Inc.

1,074,000

4.650%, 

6/15/2027

1,027,982

XHR,

LP

140,000

6.375%, 

8/15/2025

f,h

137,451

153,000

4.875%, 

6/1/2029

f

130,050

Total

130,901,562

Foreign

Government

(<0.1%)

NBN

Company,

Ltd.

1,025,000

2.625%, 

5/5/2031

f

826,103

Total

826,103

Mortgage-Backed

Securities

(9.2%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

21,645,972

2.500%, 

5/1/2051

17,274,599

7,025,191

3.500%, 

5/1/2052

6,049,618

6,813,906

4.000%, 

5/1/2052

6,115,362

19,055,691

3.500%, 

6/1/2052

16,421,431

2,673,337

5.000%, 

7/1/2053

2,530,585

894,024

5.500%, 

7/1/2053

867,433

5,077,981

3.500%, 

8/1/2052

4,394,350

4,250,000

5.500%, 

9/1/2053

4,123,570

Federal

Home

Loan

Mortgage

Corporation

Gold

15-Yr.

Pass

Through

5,460,876

2.500%, 

7/1/2030

4,977,641

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Mortgage-Backed

Securities

(9.2%)

-

continued

Federal

National

Mortgage

Association

Conventional

20-Yr.

Pass

Through

$

6,242,857

3.000%, 

12/1/2036

$

5,570,075

5,187,958

3.000%, 

8/1/2038

4,607,252

7,681,505

3.500%, 

5/1/2040

6,824,057

5,956,424

2.500%, 

4/1/2042

4,899,393

2,040,440

2.000%, 

5/1/2042

1,651,911

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

17,514,861

3.000%, 

1/1/2052

14,581,093

1,874,935

2.000%, 

2/1/2051

1,433,820

2,963,700

2.000%, 

2/1/2051

2,269,945

6,529,874

2.500%, 

2/1/2051

5,232,528

11,074,519

2.500%, 

2/1/2051

8,856,422

31,952,514

2.000%, 

3/1/2051

24,420,287

18,223,486

3.000%, 

3/1/2052

15,112,905

21,193,968

2.000%, 

4/1/2051

16,195,640

10,665,730

3.000%, 

4/1/2051

8,854,910

10,911,898

3.000%, 

5/1/2050

9,130,128

3,531,015

2.000%, 

5/1/2051

2,692,949

8,614,554

3.000%, 

5/1/2051

7,242,235

7,045,736

3.000%, 

6/1/2050

5,951,517

2,291,059

5.000%, 

6/1/2053

2,172,268

16,393,138

2.500%, 

7/1/2051

13,086,120

4,851,257

3.500%, 

7/1/2051

4,242,011

2,491,422

2.500%, 

8/1/2050

2,011,286

9,996,602

3.500%, 

8/1/2050

8,750,389

7,660,542

3.500%, 

9/1/2052

6,623,590

6,218,244

4.500%, 

9/1/2053

5,715,983

11,415,436

4.000%, 

10/1/2052

10,196,378

3,500,724

2.000%, 

11/1/2051

2,673,055

14,221,982

2.000%, 

12/1/2050

10,893,241

22,301,315

2.500%, 

12/1/2051

17,820,143

10,025,010

4.500%, 

12/1/2052

9,245,341

9,000,000

6.000%, 

10/1/2041

e

8,881,875

17,950,000

4.000%, 

10/1/2048

e

15,979,707

10,550,000

4.500%, 

10/1/2048

e

9,686,219

13,850,000

5.000%, 

10/1/2048

e

13,066,609

Federal

National

Mortgage

Association

Conventional

40-Yr.

Pass

Through

19,549,417

2.500%, 

3/1/2062

15,003,327

5,160,328

3.500%, 

7/1/2061

4,388,919

5,890,692

4.000%, 

12/1/2061

5,246,289

Total

373,964,406

Technology

(0.7%)

Advanced

Micro

Devices,

Inc.

537,000

4.393%, 

6/1/2052

437,458

Analog

Devices,

Inc.

1,000,000

2.950%, 

10/1/2051

624,205

Apple,

Inc.

938,000

2.650%, 

2/8/2051

568,932

1,680,000

3.750%, 

9/12/2047

1,298,570

AthenaHealth

Group,

Inc.

390,000

6.500%, 

2/15/2030

f,h

326,238

Broadcom,

Inc.

283,000

3.469%, 

4/15/2034

f

222,271

1,072,000

3.137%, 

11/15/2035

f

781,576

1,100,000

3.187%, 

11/15/2036

f

789,787

460,000

4.926%, 

5/15/2037

f

396,486

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

297

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Technology

(0.7%)

-

continued

Cloud

Software

Group,

Inc.

$

312,000

6.500%, 

3/31/2029

f

$

275,911

109,000

9.000%, 

9/30/2029

f

94,721

CommScope

Technologies,

LLC

147,000

6.000%, 

6/15/2025

f

139,937

CommScope,

Inc.

310,000

7.125%, 

7/1/2028

f,h

185,476

Dell

International,

LLC/EMC

Corporation

672,000

6.020%, 

6/15/2026

674,620

Fiserv,

Inc.

914,000

2.250%, 

6/1/2027

811,128

517,000

2.650%, 

6/1/2030

424,695

468,000

5.600%, 

3/2/2033

453,578

Gartner,

Inc.

200,000

3.625%, 

6/15/2029

f

171,095

480,000

3.750%, 

10/1/2030

f

402,818

Global

Payments,

Inc.

805,000

5.300%, 

8/15/2029

767,685

GTCR

W-2

Merger

Sub,

LLC

215,000

7.500%, 

1/15/2031

e,f

215,301

II-VI,

Inc.

131,000

5.000%, 

12/15/2029

f,h

113,582

Intel

Corporation

536,000

4.875%, 

2/10/2028

525,797

Iron

Mountain,

Inc.

250,000

5.000%, 

7/15/2028

f

227,388

540,000

4.875%, 

9/15/2029

f

473,280

300,000

5.250%, 

7/15/2030

f

262,094

440,000

4.500%, 

2/15/2031

f

361,884

KLA

Corporation

804,000

3.300%, 

3/1/2050

534,295

Marvell

Technology,

Inc.

127,000

5.950%, 

9/15/2033

124,652

Mastercard,

Inc.

566,000

3.950%, 

2/26/2048

448,134

Microsoft

Corporation

494,000

3.041%, 

3/17/2062

312,760

950,000

3.700%, 

8/8/2046

747,483

NCR

Corporation

419,000

5.125%, 

4/15/2029

f

369,164

416,000

6.125%, 

9/1/2029

f

426,619

NXP

BV/NXP

Funding,

LLC

475,000

5.550%, 

12/1/2028

464,924

NXP

BV/NXP

Funding,

LLC/NXP

USA,

Inc.

476,000

4.300%, 

6/18/2029

436,066

475,000

3.250%, 

5/11/2041

319,577

Open

Text

Corporation

185,000

3.875%, 

12/1/2029

f

152,073

545,000

4.125%, 

2/15/2030

f

455,948

Oracle

Corporation

536,000

6.900%, 

11/9/2052

552,149

1,340,000

6.150%, 

11/9/2029

1,360,306

1,400,000

3.850%, 

7/15/2036

1,106,923

1,266,000

4.000%, 

7/15/2046

893,342

PTC,

Inc.

290,000

3.625%, 

2/15/2025

f

278,699

210,000

4.000%, 

2/15/2028

f

188,213

Rackspace

Technology

Global,

Inc.

430,000

5.375%, 

12/1/2028

f

144,198

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Technology

(0.7%)

-

continued

RingCentral,

Inc.

$

276,000

8.500%, 

8/15/2030

f

$

266,616

Roper

Technologies,

Inc.

640,000

1.750%, 

2/15/2031

485,552

S&P

Global,

Inc.

127,000

5.250%, 

9/15/2033

f

123,791

Seagate

HDD

Cayman

163,000

8.500%, 

7/15/2031

f

167,203

424,780

9.625%, 

12/1/2032

f

457,718

Sensata

Technologies

BV

450,000

4.000%, 

4/15/2029

f

387,494

Sensata

Technologies,

Inc.

319,000

3.750%, 

2/15/2031

f

258,175

Shift4

Payments,

LLC/Shift4

Payments

Finance

Sub,

Inc.

150,000

4.625%, 

11/1/2026

f

141,429

SS&C

Technologies,

Inc.

880,000

5.500%, 

9/30/2027

f

830,403

Texas

Instruments,

Inc.

535,000

5.050%, 

5/18/2063

474,185

Viavi

Solutions,

Inc.

319,000

3.750%, 

10/1/2029

f

259,315

Visa,

Inc.

1,150,000

2.700%, 

4/15/2040

809,824

VMware,

Inc.

417,000

4.650%, 

5/15/2027

402,143

875,000

2.200%, 

8/15/2031

660,302

Total

27,066,188

Transportation

(0.3%)

Allegiant

Travel

Company

252,000

7.250%, 

8/15/2027

f

237,195

American

Airlines

Group,

Inc.

97,000

3.750%, 

3/1/2025

f

91,891

American

Airlines,

Inc.

556,000

11.750%, 

7/15/2025

f

597,696

200,000

7.250%, 

2/15/2028

f

191,221

American

Airlines,

Inc./

AAdvantage

Loyalty

IP,

Ltd.

865,333

5.500%, 

4/20/2026

f

845,139

Avis

Budget

Car

Rental,

LLC/Avis

Budget

Finance,

Inc.

173,000

5.375%, 

3/1/2029

f

153,758

Burlington

Northern

Santa

Fe,

LLC

631,000

2.875%, 

6/15/2052

388,135

503,000

5.750%, 

5/1/2040

499,341

530,000

4.450%, 

3/15/2043

442,874

Canadian

Pacific

Railway

Company

537,000

4.700%, 

5/1/2048

444,493

CSX

Corporation

720,000

3.800%, 

4/15/2050

519,681

Delta

Air

Lines,

Inc./SkyMiles

IP,

Ltd.

1,126,000

4.750%, 

10/20/2028

f

1,070,086

ERAC

USA

Finance,

LLC

536,000

5.400%, 

5/1/2053

f

495,294

Hawaiian

Brand

Intellectual

Property,

Ltd.

381,000

5.750%, 

1/20/2026

f

342,846

Hertz

Corporation

260,000

4.625%, 

12/1/2026

f

230,425

313,000

5.000%, 

12/1/2029

f

245,054

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

298

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Transportation

(0.3%)

-

continued

Mileage

Plus

Holdings,

LLC

$

1,005,750

6.500%, 

6/20/2027

f

$

996,498

Norfolk

Southern

Corporation

1,875,000

4.450%, 

3/1/2033

1,712,197

Penske

Truck

Leasing

Company,

LP/PTL

Finance

Corporation

788,000

5.750%, 

5/24/2026

f

776,404

Rand

Parent,

LLC

289,000

8.500%, 

2/15/2030

f,h

267,354

Southwest

Airlines

Company

723,000

2.625%, 

2/10/2030

595,671

Union

Pacific

Corporation

1,074,000

2.973%, 

9/16/2062

609,968

United

Airlines,

Inc.

307,000

4.375%, 

4/15/2026

f

283,911

256,000

4.625%, 

4/15/2029

f

220,040

VistaJet

Malta

Finance

plc/Vista

Management

Holding,

Inc.

81,000

7.875%, 

5/1/2027

f,h

69,761

366,000

6.375%, 

2/1/2030

f

282,682

XPO

Escrow

Sub,

LLC

335,000

7.500%, 

11/15/2027

f

338,698

Total

12,948,313

U.S.

Government

&

Agencies

(13.4%)

U.S.

Treasury

Bonds

2,712,000

3.625%, 

5/15/2053

2,245,451

20,680,000

1.625%, 

11/15/2050

10,831,958

14,120,000

5.250%, 

11/15/2028

14,498,923

38,050,000

1.625%, 

8/15/2029

32,288,992

1,075,000

4.375%, 

5/15/2040

1,019,822

41,740,000

1.375%, 

11/15/2040

24,703,232

600,000

3.000%, 

5/15/2042

459,164

750,000

3.875%, 

2/15/2043

652,734

27,658,000

2.500%, 

5/15/2046

18,525,458

35,275,000

2.875%, 

5/15/2049

25,163,752

U.S.

Treasury

Notes

14,980,000

2.500%, 

1/31/2024

14,834,296

10,000,000

3.000%, 

6/30/2024

9,817,969

12,780,000

2.125%, 

7/31/2024

12,431,545

15,100,000

2.250%, 

11/15/2024

14,586,836

8,000,000

2.125%, 

11/30/2024

7,707,500

3,700,000

1.375%, 

1/31/2025

3,513,266

15,900,000

4.625%, 

2/28/2025

15,755,906

40,300,000

3.875%, 

3/31/2025

39,498,723

6,000,000

0.250%, 

8/31/2025

5,474,766

54,500,000

5.000%, 

8/31/2025

54,389,297

33,790,000

2.625%, 

1/31/2026

32,072,782

3,050,000

0.500%, 

2/28/2026

2,745,953

22,580,000

2.500%, 

2/28/2026

21,350,449

2,350,000

0.500%, 

4/30/2027

2,026,141

16,875,000

2.250%, 

11/15/2027

15,347,021

12,250,000

3.875%, 

12/31/2027

11,872,451

4,300,000

0.750%, 

1/31/2028

3,645,930

16,200,000

3.500%, 

1/31/2028

15,460,242

13,400,000

3.625%, 

3/31/2028

12,846,203

31,750,000

2.875%, 

5/15/2028

29,423,320

55,000,000

4.375%, 

8/31/2028

54,454,297

11,850,000

1.500%, 

2/15/2030

9,822,539

6,250,000

0.875%, 

11/15/2030

4,862,305

850,000

1.375%, 

11/15/2031

666,254

24,275,000

4.125%, 

11/15/2032

23,412,100

Total

548,407,577

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Utilities

(0.6%)

AES

Corporation

$

1,069,000

3.950%, 

7/15/2030

f

$

921,392

Ameren

Illinois

Company

720,000

4.500%, 

3/15/2049

593,385

American

Electric

Power

Company,

Inc.

468,000

5.625%, 

3/1/2033

452,863

Appalachian

Power

Company

560,000

3.300%, 

6/1/2027

513,610

Berkshire

Hathaway

Energy

Company

900,000

4.500%, 

2/1/2045

718,421

Calpine

Corporation

311,000

4.500%, 

2/15/2028

f

280,281

CenterPoint

Energy

Resources

Corporation

750,000

1.750%, 

10/1/2030

580,031

CenterPoint

Energy,

Inc.

225,000

4.250%, 

11/1/2028

206,875

Commonwealth

Edison

Company

800,000

3.700%, 

3/1/2045

582,631

Consolidated

Edison

Company

of

New

York,

Inc.

384,000

4.500%, 

12/1/2045

305,687

900,000

4.125%, 

5/15/2049

667,554

Constellation

Energy

Generation,

LLC

253,000

6.125%, 

1/15/2034

252,597

Consumers

Energy

Company

880,000

4.350%, 

4/15/2049

709,190

DTE

Electric

Company

760,000

3.700%, 

3/15/2045

549,050

640,000

3.700%, 

6/1/2046

456,440

Duke

Energy

Carolinas,

LLC

960,000

3.700%, 

12/1/2047

684,659

Duke

Energy

Indiana,

LLC

1,085,000

3.750%, 

5/15/2046

765,768

Edison

International

759,000

5.750%, 

6/15/2027

751,977

Eversource

Energy

669,000

4.750%, 

5/15/2026

653,968

Exelon

Corporation

575,000

4.700%, 

4/15/2050

459,547

642,000

4.450%, 

4/15/2046

500,696

FirstEnergy

Corporation

669,000

5.100%, 

7/15/2047

567,752

Georgia

Power

Company

455,000

4.950%, 

5/17/2033

426,489

ITC

Holdings

Corporation

560,000

5.300%, 

7/1/2043

482,861

Jersey

Central

Power

&

Light

Company

375,000

2.750%, 

3/1/2032

f

293,679

MidAmerican

Energy

Company

255,000

5.850%, 

9/15/2054

251,397

National

Rural

Utilities

Cooperative

Finance

Corporation

331,000

3.700%, 

3/15/2029

302,161

NextEra

Energy

Capital

Holdings,

Inc.

506,000

5.749%, 

9/1/2025

504,579

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

299

Principal

Amount

Long-Term

Fixed

Income

(37.3%)

Value

Utilities

(0.6%)

-

continued

NextEra

Energy

Operating

Partners,

LP

$

600,000

3.875%, 

10/15/2026

f

$

543,249

NiSource

Finance

Corporation

675,000

5.650%, 

2/1/2045

610,659

NRG

Energy,

Inc.

115,000

3.375%, 

2/15/2029

f

93,080

804,000

4.450%, 

6/15/2029

f

697,263

195,000

5.250%, 

6/15/2029

f

172,138

Pacific

Gas

and

Electric

Company

700,000

3.300%, 

12/1/2027

618,478

467,000

4.550%, 

7/1/2030

412,809

PacifiCorp

519,000

5.500%, 

5/15/2054

440,171

PG&E

Corporation

379,000

5.000%, 

7/1/2028

h

343,290

PPL

Electric

Utilities

Corporation

440,000

3.950%, 

6/1/2047

333,001

Public

Service

Company

of

Colorado

806,000

4.500%, 

6/1/2052

628,848

San

Diego

Gas

&

Electric

Company

900,000

4.150%, 

5/15/2048

684,056

Southern

California

Edison

Company

825,000

4.000%, 

4/1/2047

596,526

Southern

Company

1,074,000

5.113%, 

8/1/2027

1,052,483

Southern

Company

Gas

Capital

Corporation

600,000

4.400%, 

5/30/2047

453,818

Southwestern

Electric

Power

Company

542,000

3.900%, 

4/1/2045

376,369

Talen

Energy

Supply,

LLC

267,000

8.625%, 

6/1/2030

f

273,702

TerraForm

Power

Operating,

LLC

520,000

5.000%, 

1/31/2028

f

471,900

Virginia

Electric

and

Power

Company

675,000

4.600%, 

12/1/2048

545,151

Vistra

Operations

Company,

LLC

900,000

5.125%, 

5/13/2025

f

876,980

640,000

5.000%, 

7/31/2027

f

588,409

Xcel

Energy,

Inc.

604,000

4.600%, 

6/1/2032

548,101

Total

25,796,021

Total

Long-Term

Fixed

Income

(cost

$1,710,549,623)

1,520,957,057

Shares

Registered

Investment

Companies

(

36.7%

)

Value

U.S.

Affiliated  (36.2%)

18,121,915

Thrivent

Core

Emerging

Markets

Debt

Fund

134,283,391

4,105,466

Thrivent

Core

Emerging

Markets

Equity

Fund

34,157,480

3,238,469

Thrivent

Core

International

Equity

Fund

30,538,766

3,802,073

Thrivent

Core

Low

Volatility

Equity

Fund

42,583,214

4,352,231

Thrivent

Core

Mid

Cap

Value

Fund

42,260,161

Shares

Registered

Investment

Companies

(36.7%)

Value

U.S.

Affiliated  (36.2%)-

continued

4,010,082

Thrivent

Core

Small

Cap

Value

Fund

$

36,090,737

4,279,028

Thrivent

Global

Stock

Portfolio

52,798,494

23,801,416

Thrivent

High

Yield

Portfolio

94,848,643

33,588,211

Thrivent

Income

Portfolio

278,137,255

13,398,363

Thrivent

International

Allocation

Portfolio

114,593,515

1,678,136

Thrivent

International

Index

Portfolio

20,138,131

13,395,231

Thrivent

Large

Cap

Value

Portfolio

266,933,461

17,551,943

Thrivent

Limited

Maturity

Bond

Portfolio

164,958,425

5,177,400

Thrivent

Mid

Cap

Stock

Portfolio

93,333,514

4,449,627

Thrivent

Small

Cap

Stock

Portfolio

70,982,669

Total

1,476,637,856

U.S.

Unaffiliated  (0.5%)

10,873

Communication

Services

Select

Sector

SPDR

Fund

712,943

4,745

Invesco

QQQ

Trust

Series

1

h

1,699,991

428

iShares

Biotechnology

ETF

52,340

15,038

SPDR

Bloomberg

High

Yield

Bond

ETF

h

1,359,435

39,725

SPDR

S&P

500

ETF

Trust

16,981,643

14,569

SPDR

S&P

Biotech

ETF

1,063,828

1,670

SPDR

S&P

Oil

&

Gas

Exploration

ETF

247,010

Total

22,117,190

Total

Registered

Investment

Companies

(cost

$1,489,752,147)

1,498,755,046

Shares

Common

Stock

(

15.6%

)

Value

Communications

Services

(1.2%)

27,648

Alphabet,

Inc.,

Class

A

m

3,618,017

139,862

Alphabet,

Inc.,

Class

C

m

18,440,805

11,974

Altice

USA,

Inc.

m

39,155

6,204

AMC

Networks,

Inc.

m

73,083

2,477

Bumble,

Inc.

m

36,957

35

Cable

One,

Inc.

21,547

28,837

Cargurus,

Inc.

m

505,224

85,350

Comcast

Corporation

3,784,419

8,657

DISH

Network

Corporation

m

50,730

345

Electronic

Arts,

Inc.

41,538

7,220

Emerald

Holding,

Inc.

m

32,634

2,396

Entravision

Communications

Corporation

8,745

7,902

Frontier

Communications

Parent,

Inc.

m

123,666

15,093

iHeartMedia,

Inc.

m

47,694

3,994

Imax

Corporation

m

77,164

11,597

Integral

Ad

Science

Holding

Corporation

m

137,888

3,077

Interpublic

Group

of

Companies,

Inc.

88,187

9,804

Liberty

Global

plc,

Class

A

m

167,845

23,659

Liberty

Global

plc,

Class

C

m

439,111

7,460

Liberty

Latin

America,

Ltd.,

Class

A

m

60,874

2,339

Live

Nation

Entertainment,

Inc.

m

194,231

81,103

Lumen

Technologies,

Inc.

h,m

115,166

1,747

Match

Group,

Inc.

m

68,439

35,287

Meta

Platforms,

Inc.

m

10,593,510

6,178

Netflix,

Inc.

m

2,332,813

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

300

Shares

Common

Stock

(15.6%)

Value

Communications

Services

(1.2%)

-

continued

571

Omnicom

Group,

Inc.

$

42,528

47,638

QuinStreet,

Inc.

m

427,313

599

Shutterstock,

Inc.

22,792

2,779

Sinclair,

Inc.

31,180

2,071

TechTarget,

Inc.

m

62,876

4,777

Telephone

and

Data

Systems,

Inc.

87,467

14,356

Trade

Desk,

Inc.

m

1,121,921

1,143

Tripadvisor,

Inc.

m

18,951

128,794

Verizon

Communications,

Inc.

4,174,214

20,620

Walt

Disney

Company

m

1,671,251

57,112

Warner

Brothers

Discovery,

Inc.

m

620,236

6,476

Windstream

Services,

LLC

m

61,522

166

Yelp,

Inc.

m

6,904

19,336

Ziff

Davis,

Inc.

m

1,231,510

Total

50,680,107

Consumer

Discretionary

(1.8%)

4,819

2U,

Inc.

m

11,903

126

Adient

plc

m

4,624

138,297

Amazon.com,

Inc.

m

17,580,315

921

American

Axle

&

Manufacturing

Holdings,

Inc.

m

6,686

12,540

American

Eagle

Outfitters,

Inc.

208,289

32,973

Aptiv

plc

m

3,250,808

5,299

Autoliv,

Inc.

511,248

62

AutoNation,

Inc.

m

9,387

1,399

Beazer

Homes

USA,

Inc.

m

34,849

1,222

Best

Buy

Company,

Inc.

84,892

905

Booking

Holdings,

Inc.

m

2,790,975

6,319

Boot

Barn

Holdings,

Inc.

m

513,040

1,265

Brunswick

Corporation

99,935

3,005

Buckle,

Inc.

100,337

1,541

Cedar

Fair,

LP

57,017

97

Cheesecake

Factory,

Inc.

2,939

615

Chegg,

Inc.

m

5,486

935

Chipotle

Mexican

Grill,

Inc.

m

1,712,761

49,080

Clarus

Corporation

371,045

5,517

Columbia

Sportswear

Company

408,810

4,241

Container

Store

Group,

Inc.

m

9,542

3,851

Cooper-Standard

Holdings,

Inc.

m

51,680

1,206

Crocs,

Inc.

m

106,405

1,625

Culp,

Inc.

m

9,067

6,909

D.R.

Horton,

Inc.

742,510

12,048

Dana,

Inc.

176,744

1,606

Darden

Restaurants,

Inc.

230,011

2,196

Deckers

Outdoor

Corporation

m

1,128,942

6,026

Domino's

Pizza,

Inc.

2,282,589

403

Dorman

Products,

Inc.

m

30,531

3,373

eBay,

Inc.

148,716

1,659

Etsy,

Inc.

m

107,138

62,108

Everi

Holdings,

Inc.

m

821,068

816

Expedia

Group,

Inc.

m

84,105

11,285

Five

Below,

Inc.

m

1,815,756

2,791

Ford

Motor

Company

34,664

14,049

Fox

Factory

Holding

Corporation

m

1,391,975

11,045

Gap,

Inc.

117,408

32,206

General

Motors

Company

1,061,832

6,859

Gentex

Corporation

223,192

7,114

Goodyear

Tire

&

Rubber

Company

m

88,427

342

Grand

Canyon

Education,

Inc.

m

39,973

2,245

Green

Brick

Partners,

Inc.

m

93,190

8,977

Harley-Davidson,

Inc.

296,780

11,009

Hilton

Worldwide

Holdings,

Inc.

1,653,332

23,012

Home

Depot,

Inc.

6,953,306

Shares

Common

Stock

(15.6%)

Value

Consumer

Discretionary

(1.8%)

-

continued

199

Hyatt

Hotels

Corporation

$

21,110

817

KB

Home

37,811

12,606

Laureate

Education,

Inc.

177,745

1,764

La-Z-Boy,

Inc.

54,472

3,436

Lear

Corporation

461,111

1,009

Lennar

Corporation

113,240

7,473

Lowe's

Companies,

Inc.

1,553,188

2,688

Lululemon

Athletica,

Inc.

m

1,036,520

1,159

M/I

Homes,

Inc.

m

97,402

124

Malibu

Boats,

Inc.

m

6,078

964

Marriott

International,

Inc./MD

189,484

120

Marriott

Vacations

Worldwide

Corporation

12,076

6,455

McDonald's

Corporation

1,700,505

3,041

Meritage

Homes

Corporation

372,188

4,326

MGM

Resorts

International

159,024

367

Modine

Manufacturing

Company

m

16,790

5,134

Mohawk

Industries,

Inc.

m

440,549

9,592

Nordstrom,

Inc.

h

143,304

225

NVR,

Inc.

m

1,341,743

1,208

ODP

Corporation

m

55,749

2,841

O'Reilly

Automotive,

Inc.

m

2,582,071

8,343

Papa

John's

International,

Inc.

569,159

2,304

PENN

Entertainment,

Inc.

m

52,877

3,122

Playa

Hotels

and

Resorts

NV

m

22,603

2,863

Polaris,

Inc.

298,153

2,991

Pool

Corporation

1,065,095

1,320

PulteGroup,

Inc.

97,746

34,133

Qurate

Retail,

Inc.

m

20,705

2,983

Ross

Stores,

Inc.

336,930

5,074

SeaWorld

Entertainment,

Inc.

m

234,673

1,045

Six

Flags

Entertainment

Corporation

m

24,568

6,847

Skyline

Champion

Corporation

m

436,291

2,127

Sonos,

Inc.

m

27,460

11,064

Sony

Group

Corporation

ADR

911,784

26,912

Stoneridge,

Inc.

m

540,124

428

Taylor

Morrison

Home

Corporation

m

18,237

31,695

Tesla,

Inc.

m

7,930,723

39,077

ThredUp,

Inc.

m

156,699

303

TopBuild

Corporation

m

76,235

7,944

Travel

+

Leisure

Company

291,783

8

Ulta

Beauty,

Inc.

m

3,196

3,938

Upbound

Group,

Inc.

115,974

3,929

Urban

Outfitters,

Inc.

m

128,439

100

Vail

Resorts,

Inc.

22,189

248

Visteon

Corporation

m

34,241

8,704

Wendy's

Company

177,649

2,366

Wingstop,

Inc.

425,501

10,778

Wyndham

Hotels

&

Resorts,

Inc.

749,502

Total

72,804,925

Consumer

Staples

(0.8%)

27,757

Altria

Group,

Inc.

1,167,182

4,733

Archer-Daniels-Midland

Company

356,963

25,318

BJ's

Wholesale

Club

Holdings,

Inc.

m

1,806,946

339

Boston

Beer

Company,

Inc.

m

132,051

874

Cal-Maine

Foods,

Inc.

42,319

4,950

Casey's

General

Stores,

Inc.

1,344,024

9,708

Celsius

Holdings,

Inc.

m

1,665,893

58,424

Coca-Cola

Company

3,270,575

19,378

Colgate-Palmolive

Company

1,377,970

70,951

Coty,

Inc.

m

778,332

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

301

Shares

Common

Stock

(15.6%)

Value

Consumer

Staples

(0.8%)

-

continued

862

Darling

Ingredients,

Inc.

m

$

44,996

7,888

e.l.f.

Beauty,

Inc.

m

866,339

8,056

Flowers

Foods,

Inc.

178,682

678

Hain

Celestial

Group,

Inc.

m

7,031

149

Hershey

Company

29,812

3,515

Hormel

Foods

Corporation

133,675

666

Ingredion,

Inc.

65,534

3,045

J

&

J

Snack

Foods

Corporation

498,314

701

John

B.

Sanfilippo

&

Son,

Inc.

69,259

27,077

Kenvue,

Inc.

543,706

17,743

Kimberly-Clark

Corporation

2,144,242

2,636

Kroger

Company

117,961

10,201

Lamb

Weston

Holdings,

Inc.

943,184

7,559

Lancaster

Colony

Corporation

1,247,462

20,748

Mondelez

International,

Inc.

1,439,911

541

PepsiCo,

Inc.

91,667

17,896

Philip

Morris

International,

Inc.

1,656,812

2,293

Pilgrim's

Pride

Corporation

m

52,349

366

PriceSmart,

Inc.

27,241

4,925

Primo

Water

Corporation

67,965

9,436

Procter

&

Gamble

Company

1,376,335

55

Seneca

Foods

Corporation

m

2,961

2,094

Simply

Good

Foods

Company

m

72,285

937

SpartanNash

Company

20,614

13,715

Sysco

Corporation

905,876

21,120

Turning

Point

Brands,

Inc.

487,661

2,027

Tyson

Foods,

Inc.

102,343

36,290

US

Foods

Holding

Corporation

m

1,440,713

29,328

Walmart,

Inc.

4,690,427

Total

31,267,612

Energy

(0.6%)

5,990

APA

Corporation

246,189

21,502

BP

plc

ADR

832,557

1,111

Cactus,

Inc.

55,783

1,441

California

Resources

Corporation

80,710

3,516

Cheniere

Energy,

Inc.

583,515

1,366

Chesapeake

Energy

Corporation

117,790

11,042

Chevron

Corporation

1,861,902

745

Chord

Energy

Corporation

120,742

141

Civitas

Resources,

Inc.

11,403

687

Comstock

Resources,

Inc.

7,578

14,223

ConocoPhillips

1,703,915

1,267

CVR

Energy,

Inc.

43,116

14,316

Devon

Energy

Corporation

682,873

42,786

Enterprise

Products

Partners,

LP

1,171,053

896

Evolution

Petroleum

Corporation

6,129

30,029

Exxon

Mobil

Corporation

3,530,810

2,223

Gran

Tierra

Energy,

Inc.

m

15,428

68,412

Halliburton

Company

2,770,686

1,260

Helmerich

&

Payne,

Inc.

53,122

2,826

HF

Sinclair

Corporation

160,884

5,828

International

Seaways,

Inc.

262,260

19,962

Liberty

Energy,

Inc.

369,696

3,038

Magnolia

Oil

&

Gas

Corporation

69,601

3,625

Marathon

Oil

Corporation

96,969

18,048

Marathon

Petroleum

Corporation

2,731,384

18,316

Matador

Resources

Company

1,089,436

4,158

Murphy

Oil

Corporation

188,565

16,904

NOV,

Inc.

353,294

624

ONEOK,

Inc.

39,580

4,171

Ovintiv,

Inc.

198,414

7,051

Par

Pacific

Holdings,

Inc.

m

253,413

1,902

Patterson-UTI

Energy,

Inc.

26,324

3,571

PBF

Energy,

Inc.

191,156

Shares

Common

Stock

(15.6%)

Value

Energy

(0.6%)

-

continued

5,095

Phillips

66

$

612,164

13,015

Pioneer

Natural

Resources

Company

2,987,593

22,403

ProPetro

Holding

Corporation

m

238,144

9,990

RPC,

Inc.

89,311

5,971

SM

Energy

Company

236,750

1,240

Solaris

Oilfield

Infrastructure,

Inc.

13,218

14,382

Talos

Energy,

Inc.

m

236,440

93,655

TechnipFMC

plc

1,904,943

6,853

U.S.

Silica

Holdings,

Inc.

m

96,216

11,704

Viper

Energy

Partners,

LP

326,308

3,800

Williams

Companies,

Inc.

128,022

Total

26,795,386

Financials

(2.2%)

6,951

Allstate

Corporation

774,411

6,647

Ally

Financial,

Inc.

177,342

4,159

Amalgamated

Financial

Corporation

71,618

1,475

Amerant

Bancorp,

Inc.

25,724

23,732

American

Express

Company

3,540,577

1,206

American

Financial

Group,

Inc.

134,674

15,745

American

International

Group,

Inc.

954,147

6,308

Ameriprise

Financial,

Inc.

2,079,621

450

Ameris

Bancorp

17,275

4,959

Annaly

Capital

Management,

Inc.

93,279

52

Apollo

Global

Management,

Inc.

4,668

2,500

Arch

Capital

Group,

Ltd.

m

199,275

5,940

Arthur

J.

Gallagher

&

Company

1,353,904

2,128

Artisan

Partners

Asset

Management,

Inc.

79,630

6,245

Associated

Banc-Corp

106,852

592

Assurant,

Inc.

84,999

1,477

Assured

Guaranty,

Ltd.

89,388

321

Atlantic

Union

Bankshares

Corporation

9,238

565

Axis

Capital

Holdings,

Ltd.

31,849

229

Axos

Financial,

Inc.

m

8,670

5,344

Banc

of

California,

Inc.

66,159

71,274

Bank

of

America

Corporation

1,951,482

798

Bank

of

Hawaii

Corporation

39,653

3,476

Bank

of

Marin

Bancorp

63,541

1,612

Bank

of

N.T.

Butterfield

&

Son,

Ltd.

43,653

31,668

Bank

of

New

York

Mellon

Corporation

1,350,640

1,370

Bank

OZK

50,786

1,579

BankFinancial

Corporation

13,611

3,746

BankUnited,

Inc.

85,034

2,656

Banner

Corporation

112,561

507

BayCom

Corporation

9,739

2,968

BCB

Bancorp,

Inc.

33,064

8,576

Berkshire

Hathaway,

Inc.

m

3,004,173

3,427

Berkshire

Hills

Bancorp,

Inc.

68,711

1,447

BlackRock,

Inc.

935,471

1,604

Block,

Inc.

m

70,993

189

BOK

Financial

Corporation

15,116

3,798

Bridgewater

Bancshares,

Inc.

m

36,005

2,976

Brighthouse

Financial,

Inc.

m

145,645

4,943

Brookline

Bancorp,

Inc.

45,031

2,292

Business

First

Bancshares,

Inc.

42,998

1,023

Byline

Bancorp,

Inc.

20,163

2,405

Cadence

Bank

51,034

6,641

Capital

One

Financial

Corporation

644,509

12,935

Carlyle

Group,

Inc.

390,120

422

Cathay

General

Bancorp

14,669

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

302

Shares

Common

Stock

(15.6%)

Value

Financials

(2.2%)

-

continued

14,514

Central

Pacific

Financial

Corporation

$

242,094

272

Central

Valley

Community

Bancorp

3,838

21,500

Charles

Schwab

Corporation

1,180,350

12,488

Chubb,

Ltd.

2,599,752

9,780

Cincinnati

Financial

Corporation

1,000,396

12,063

Citigroup,

Inc.

496,151

11,649

Citizens

Financial

Group,

Inc.

312,193

2,519

CNB

Financial

Corporation

45,619

7,602

Columbia

Banking

System,

Inc.

154,321

20,330

Comerica,

Inc.

844,712

1,889

Commerce

Bancshares,

Inc.

90,634

353

Community

Bank

System,

Inc.

14,900

5,591

Community

Trust

Bancorp,

Inc.

191,548

2,209

ConnectOne

Bancorp,

Inc.

39,386

980

CrossFirst

Bankshares,

Inc.

m

9,888

999

Cullen/Frost

Bankers,

Inc.

91,119

2,058

Customers

Bancorp,

Inc.

m

70,898

1,406

CVB

Financial

Corporation

23,297

7,352

Dime

Community

Bancshares,

Inc.

146,746

6,085

Discover

Financial

Services

527,144

5,879

Eagle

Bancorp,

Inc.

126,105

3,418

East

West

Bancorp,

Inc.

180,163

929

Eastern

Bankshares,

Inc.

11,650

6,566

Ellington

Residential

Mortgage

REIT

40,775

1,229

Employers

Holdings,

Inc.

49,099

2,297

Enova

International,

Inc.

m

116,848

2,123

Enterprise

Financial

Services

Corporation

79,613

1,210

Equity

Bancshares,

Inc.

29,125

736

Euronet

Worldwide,

Inc.

m

58,424

123

EVERTEC,

Inc.

4,573

4,755

F.N.B.

Corporation

51,306

4,850

FactSet

Research

Systems,

Inc.

2,120,711

15,312

Federated

Hermes,

Inc.

518,617

2,854

Fidelity

National

Information

Services,

Inc.

157,741

2,124

Fifth

Third

Bancorp

53,801

3,837

Financial

Institutions,

Inc.

64,577

1,760

First

Bancorp/Puerto

Rico

23,690

57

First

Citizens

BancShares,

Inc./NC

78,666

820

First

Commonwealth

Financial

Corporation

10,012

220

First

Financial

Bancorp

4,312

1,521

First

Financial

Bankshares,

Inc.

38,208

1,589

First

Financial

Corporation

53,724

7,303

First

Foundation,

Inc.

44,402

681

First

Hawaiian,

Inc.

12,292

20,432

First

Horizon

Corporation

225,161

1,526

First

Internet

Bancorp

24,736

400

First

Interstate

BancSystem,

Inc.

9,976

1,164

First

Merchants

Corporation

32,382

831

First

Mid-Illinois

Bancshares,

Inc.

22,071

3,161

First

of

Long

Island

Corporation

36,383

5,736

Fiserv,

Inc.

m

647,939

225

Five

Star

Bancorp

4,514

834

FleetCor

Technologies,

Inc.

m

212,954

4,292

Flushing

Financial

Corporation

56,354

7,559

Fulton

Financial

Corporation

91,539

8,235

Genworth

Financial,

Inc.

m

48,257

3,520

Glacier

Bancorp,

Inc.

100,320

948

Global

Life,

Inc.

103,076

2,716

Global

Payments,

Inc.

313,399

3,538

Great

Southern

Bancorp,

Inc.

169,541

Shares

Common

Stock

(15.6%)

Value

Financials

(2.2%)

-

continued

2,147

Green

Dot

Corporation

m

$

29,908

6,465

Hamilton

Lane,

Inc.

584,695

869

Hancock

Whitney

Corporation

32,144

14,482

Hanmi

Financial

Corporation

235,043

1,733

Hanover

Insurance

Group,

Inc.

192,328

3,068

Hartford

Financial

Services

Group,

Inc.

217,552

10,638

Heartland

Financial

USA,

Inc.

313,076

10,405

Heritage

Commerce

Corporation

88,130

8,116

Heritage

Financial

Corporation

132,372

2,580

Home

BancShares,

Inc.

54,025

5,031

HomeStreet,

Inc.

h

39,191

4,851

Hometrust

Bancshares,

Inc.

105,121

30,352

Hope

Bancorp,

Inc.

268,615

5,344

Horizon

Bancorp,

Inc.

57,074

12,041

Houlihan

Lokey,

Inc.

1,289,832

9,116

Huntington

Bancshares,

Inc.

94,806

1,598

Independent

Bank

Corporation

78,446

4,432

Independent

Bank

Corporation/MI

81,283

42,063

Intercontinental

Exchange,

Inc.

4,627,771

348

International

Bancshares

Corporation

15,082

7,354

Invesco

Mortgage

Capital,

Inc.

73,614

10,777

Invesco,

Ltd.

156,482

39,140

J.P.

Morgan

Chase

&

Company

5,676,083

515

Jack

Henry

&

Associates,

Inc.

77,837

17,444

Janus

Henderson

Group

plc

450,404

2,532

Kearny

Financial

Corporation/MD

17,547

5,968

KeyCorp

64,216

8,889

Kinsale

Capital

Group,

Inc.

3,681,202

2,776

Lazard,

Ltd.

86,084

2,511

Loews

Corporation

158,971

6,710

M&T

Bank

Corporation

848,480

1,413

Marsh

&

McLennan

Companies,

Inc.

268,894

20,774

Mastercard,

Inc.

8,224,634

723

Mercantile

Bank

Corporation

22,348

13,081

MetLife,

Inc.

822,926

4,303

Metropolitan

Bank

Holding

Corporation

m

156,113

10,989

MFA

Financial,

Inc.

105,604

52,147

MGIC

Investment

Corporation

870,333

593

Mid

Penn

Bancorp,

Inc.

11,937

4,081

Midland

States

Bancorp,

Inc.

83,824

8,447

MidWestOne

Financial

Group,

Inc.

171,728

7,354

Morgan

Stanley

600,601

7,548

Mr.

Cooper

Group,

Inc.

m

404,271

3,619

MSCI,

Inc.

1,856,837

478

MVB

Financial

Corporation

10,793

28,996

Nasdaq,

Inc.

1,408,916

6,418

Navient

Corporation

110,518

13,810

New

York

Community

Bancorp,

Inc.

156,605

16,556

NMI

Holdings,

Inc.

m

448,502

187

Northrim

BanCorp,

Inc.

7,409

22,420

NU

Holdings,

Ltd./Cayman

Islands

m

162,545

4,666

OceanFirst

Financial

Corporation

67,517

2,096

OFG

Bancorp

62,587

3,778

Old

National

Bancorp

54,932

3,307

Old

Republic

International

Corporation

89,091

1,726

Old

Second

Bancorp,

Inc.

23,491

9,081

OneMain

Holdings,

Inc.

364,057

502

Pacific

Premier

Bancorp,

Inc.

10,924

73,627

PayPal

Holdings,

Inc.

m

4,304,234

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

303

Shares

Common

Stock

(15.6%)

Value

Financials

(2.2%)

-

continued

986

PCB

Bancorp

$

15,234

789

PennyMac

Financial

Services,

Inc.

52,547

1,120

Pinnacle

Financial

Partners,

Inc.

75,085

434

PNC

Financial

Services

Group,

Inc.

53,282

2,474

Popular,

Inc.

155,887

3,532

Premier

Financial

Corporation

60,256

299

PROG

Holdings,

Inc.

m

9,930

1,440

Prosperity

Bancshares,

Inc.

78,595

2,644

Provident

Financial

Services,

Inc.

40,427

1,714

Prudential

Financial,

Inc.

162,641

10,385

Radian

Group,

Inc.

260,767

26,472

Raymond

James

Financial,

Inc.

2,658,583

2,786

Regions

Financial

Corporation

47,919

39

Reinsurance

Group

of

America,

Inc.

5,662

49,625

Rithm

Capital

Corporation

461,016

6,157

RLI

Corporation

836,675

846

S&T

Bancorp,

Inc.

22,910

3,149

Sandy

Spring

Bancorp,

Inc.

67,483

13,889

SEI

Investments

Company

836,534

2,088

Shore

Bancshares,

Inc.

21,966

611

Simmons

First

National

Corporation

10,363

458

SmartFinancial,

Inc.

9,787

260

Southern

First

Bancshares,

Inc.

m

7,004

1,187

SouthState

Corporation

79,956

2,944

Synchrony

Financial

89,998

5,203

Synovus

Financial

Corporation

144,643

1,326

T.

Rowe

Price

Group,

Inc.

139,058

1,557

Territorial

Bancorp,

Inc.

14,153

6,361

TPG,

Inc.

191,593

11,821

Tradeweb

Markets,

Inc.

948,044

13,618

Triumph

Financial,

Inc.

m

882,310

3,355

TrustCo

Bank

Corporation

NY

91,558

3,485

Trustmark

Corporation

75,729

8,121

Two

Harbors

Investment

Corporation

107,522

1,882

U.S.

Bancorp

62,219

825

UMB

Financial

Corporation

51,191

1,746

United

Bankshares,

Inc.

48,172

1,187

United

Community

Banks,

Inc.

30,162

3,246

Univest

Financial

Corporation

56,415

11,145

Unum

Group

548,223

8,133

Valley

National

Bancorp

69,618

5,598

Veritex

Holdings,

Inc.

100,484

12,199

Virtu

Financial,

Inc.

210,677

1,626

Visa,

Inc.

373,996

1,824

Voya

Financial,

Inc.

121,205

1,650

W.R.

Berkley

Corporation

104,758

604

Walker

&

Dunlop,

Inc.

44,841

3,369

Washington

Federal,

Inc.

86,314

79

Webster

Financial

Corporation

3,184

57,024

Wells

Fargo

&

Company

2,330,001

1,768

Westamerica

Bancorporation

76,466

26,779

Western

Alliance

Bancorp

1,231,031

42,555

Western

Union

Company

560,875

643

WEX,

Inc.

m

120,942

101

Willis

Towers

Watson

plc

21,105

913

Wintrust

Financial

Corporation

68,932

277

WSFS

Financial

Corporation

10,111

8,373

Zions

Bancorp

NA

292,134

Total

89,301,482

Shares

Common

Stock

(15.6%)

Value

Health

Care

(2.1%)

24,730

Abbott

Laboratories

$

2,395,100

910

ACADIA

Pharmaceuticals,

Inc.

m

18,964

10,884

Agilent

Technologies,

Inc.

1,217,049

664

Agiliti,

Inc.

m

4,309

2,395

Agios

Pharmaceuticals,

Inc.

m

59,276

5,280

Aldeyra

Therapeutics,

Inc.

m

35,270

516

Align

Technology,

Inc.

m

157,545

14,476

Alkermes

plc

m

405,473

114

Alnylam

Pharmaceuticals,

Inc.

m

20,189

9,286

Amgen,

Inc.

2,495,705

3,654

Amicus

Therapeutics,

Inc.

m

44,433

1,557

Amphastar

Pharmaceuticals,

Inc.

m

71,606

1,591

Anika

Therapeutics,

Inc.

m

29,640

5,547

Apellis

Pharmaceuticals,

Inc.

m

211,008

3,520

Argenx

SE

ADR

m

1,730,538

5,827

Ascendis

Pharma

AS

ADR

m

545,640

7,191

AstraZeneca

plc

ADR

486,975

1,704

Avanos

Medical,

Inc.

m

34,455

70,283

Avantor,

Inc.

m

1,481,566

8,155

Azenta,

Inc.

m

409,299

34,646

Baxter

International,

Inc.

1,307,540

3,900

Biogen,

Inc.

m

1,002,339

156

BioMarin

Pharmaceutical,

Inc.

m

13,803

199

Bio-Rad

Laboratories,

Inc.

m

71,332

20,000

Bio-Techne

Corporation

1,361,400

460

Blueprint

Medicines

Corporation

m

23,101

1,400

Bruker

Corporation

87,220

967

Cardinal

Health,

Inc.

83,955

421

Cencora,

Inc.

75,767

2,579

Centene

Corporation

m

177,642

1,777

Charles

River

Laboratories

International,

Inc.

m

348,256

4,178

Cigna

Group

1,195,200

2,834

Codexis,

Inc.

m

5,356

4,217

Community

Health

Systems,

Inc.

m

12,229

3,279

Cooper

Companies,

Inc.

1,042,755

16,336

CVS

Health

Corporation

1,140,580

18,038

Danaher

Corporation

4,475,228

4,642

Deciphera

Pharmaceuticals,

Inc.

m

59,046

21,251

Dentsply

Sirona,

Inc.

725,934

11,673

Dexcom,

Inc.

m

1,089,091

9,706

Dynavax

Technologies

Corporation

m

143,358

14,696

Edwards

Lifesciences

Corporation

m

1,018,139

68,247

Elanco

Animal

Health,

Inc.

m

767,096

2,835

Elevance

Health,

Inc.

1,234,416

1,161

Eli

Lilly

&

Company

623,608

915

Enanta

Pharmaceuticals,

Inc.

m

10,221

14,775

Enovis

Corporation

m

779,086

4,961

Exelixis,

Inc.

m

108,398

15,366

Gilead

Sciences,

Inc.

1,151,528

2,667

Globus

Medical,

Inc.

m

132,417

4,920

GoodRx

Holdings,

Inc.

m

27,700

15,249

Halozyme

Therapeutics,

Inc.

m

582,512

3,071

HCA

Healthcare,

Inc.

755,405

7,505

Hologic,

Inc.

m

520,847

3,260

ICON

plc

m

802,775

91

IDEXX

Laboratories,

Inc.

m

39,792

10,925

Immunocore

Holdings

plc

ADR

m

567,007

13,973

Inmode,

Ltd.

m

425,618

1,878

Inspire

Medical

Systems,

Inc.

m

372,670

9,120

Intuitive

Surgical,

Inc.

m

2,665,685

679

IQVIA

Holding,

Inc.

m

133,593

1,392

Jazz

Pharmaceuticals,

Inc.

m

180,180

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

304

Shares

Common

Stock

(15.6%)

Value

Health

Care

(2.1%)

-

continued

9,920

Johnson

&

Johnson

$

1,545,040

283

Kiniksa

Pharmaceuticals,

Ltd.

m

4,916

2,114

Kura

Oncology,

Inc.

m

19,280

13,367

Laboratory

Corporation

of

America

Holdings

2,687,435

10,836

Lantheus

Holdings,

Inc.

m

752,885

68

Ligand

Pharmaceuticals,

Inc.

m

4,075

984

LivaNova

plc

m

52,034

110,363

Maravai

LifeSciences

Holdings,

Inc.

m

1,103,630

317

Masimo

Corporation

m

27,795

32

Medpace

Holdings,

Inc.

m

7,748

56,476

Medtronic

plc

4,425,459

35,774

Merck

&

Company,

Inc.

3,682,933

6,998

Molina

Healthcare,

Inc.

m

2,294,574

2,220

Myriad

Genetics,

Inc.

m

35,609

6,652

Natera,

Inc.

m

294,351

2,032

National

HealthCare

Corporation

130,007

25,632

Novo

Nordisk

AS

ADR

m

2,330,974

2,136

OraSure

Technologies,

Inc.

m

12,666

2,639

Pacira

Pharmaceuticals,

Inc.

m

80,965

2,841

Pediatrix

Medical

Group,

Inc.

m

36,109

38,820

Pfizer,

Inc.

1,287,659

16,820

Phreesia,

Inc.

m

314,198

25,357

Point

Biopharma

Global,

Inc.

m

169,131

47,372

Progyny,

Inc.

m

1,611,595

3,011

Qiagen

NV

m

121,946

551

QuidelOrtho

Corporation

m

40,245

53,828

R1

RCM,

Inc.

m

811,188

8,497

Repligen

Corporation

m

1,351,108

3,799

Revance

Therapeutics,

Inc.

m

43,575

4,407

Rocket

Pharmaceuticals,

Inc.

m

90,299

1,461

Royalty

Pharma

plc

39,652

5,224

Sarepta

Therapeutics,

Inc.

m

633,253

33,875

scPharmaceuticals,

Inc.

m

241,190

2,005

Sensus

Healthcare,

Inc.

m

5,554

5,051

ShockWave

Medical,

Inc.

m

1,005,654

751

Teleflex,

Inc.

147,504

3,597

TG

Therapeutics,

Inc.

m

30,071

4,700

Thermo

Fisher

Scientific,

Inc.

2,378,999

13,389

UnitedHealth

Group,

Inc.

6,750,600

1,681

Vanda

Pharmaceuticals,

Inc.

m

7,262

7,526

Veeva

Systems,

Inc.

m

1,531,165

6,225

Veracyte,

Inc.

m

139,004

16,493

Vericel

Corporation

m

552,845

1,605

Vertex

Pharmaceuticals,

Inc.

m

558,123

4,713

Viemed

Healthcare,

Inc.

m

31,718

4,864

Vor

BioPharma,

Inc.

h,m

10,312

4,355

Waters

Corporation

m

1,194,185

857

West

Pharmaceutical

Services,

Inc.

321,555

1,615

Zentalis

Pharmaceuticals,

Inc.

m

32,397

7,971

Zimmer

Biomet

Holdings,

Inc.

894,506

32,828

Zoetis,

Inc.

5,711,415

Total

86,780,258

Industrials

(1.8%)

2,593

A.O.

Smith

Corporation

171,475

1,170

Acuity

Brands,

Inc.

199,263

11,624

Advanced

Drainage

Systems,

Inc.

1,323,160

3,621

AGCO

Corporation

428,292

8,928

Air

Lease

Corporation

351,852

9,788

Alaska

Air

Group,

Inc.

m

362,939

544

American

Woodmark

Corporation

m

41,132

12,834

AMETEK,

Inc.

1,896,352

Shares

Common

Stock

(15.6%)

Value

Industrials

(1.8%)

-

continued

439

Apogee

Enterprises,

Inc.

$

20,668

5,165

Armstrong

World

Industries,

Inc.

371,880

19,319

ASGN,

Inc.

m

1,577,976

8,092

Automatic

Data

Processing,

Inc.

1,946,773

364

Axon

Enterprise,

Inc.

m

72,432

1,809

AZZ,

Inc.

82,454

22,822

Badger

Infrastructure

Solutions,

Ltd.

582,879

1,914

Barnes

Group,

Inc.

65,019

5,170

Beacon

Roofing

Supply,

Inc.

m

398,969

1,729

Boise

Cascade

Company

178,156

2,269

Builders

FirstSource,

Inc.

m

282,468

5,865

Carlisle

Companies,

Inc.

1,520,560

763

Caterpillar,

Inc.

208,299

8,002

Chart

Industries,

Inc.

m

1,353,298

1,057

Cimpress

plc

m

74,001

1,141

Cintas

Corporation

548,832

57,354

CNH

Industrial

NV

693,983

156

Columbus

McKinnon

Corporation

5,446

10,705

Conduent

Incorporated

m

37,253

1,187

CSW

Industrials,

Inc.

208,010

74,449

CSX

Corporation

2,289,307

7,080

Cummins,

Inc.

1,617,497

2,283

Curtiss-Wright

Corporation

446,623

1,167

Daseke,

Inc.

m

5,987

2,854

Deere

&

Company

1,077,043

22,645

Delta

Air

Lines,

Inc.

837,865

2,274

Donaldson

Company,

Inc.

135,621

24

Dover

Corporation

3,348

2,949

EMCOR

Group,

Inc.

620,440

182

Equifax,

Inc.

33,339

51,956

ExlService

Holdings,

Inc.

m

1,456,846

1,435

Expeditors

International

of

Washington,

Inc.

164,494

51,686

Fastenal

Company

2,824,123

10,790

Ferguson

plc

1,774,631

25,217

First

Advantage

Corporation

347,742

15,913

Flowserve

Corporation

632,860

1,943

Fluor

Corporation

m

71,308

607

Forrester

Research,

Inc.

m

17,542

3,880

Fortune

Brands

Innovations,

Inc.

241,181

2,065

Gates

Industrial

Corporation

plc

m

23,975

4,963

General

Dynamics

Corporation

1,096,674

2,305

Gibraltar

Industries,

Inc.

m

155,611

67

GMS,

Inc.

m

4,286

485

Gorman-Rupp

Company

15,956

1,461

Greenbrier

Companies,

Inc.

58,440

742

Griffon

Corporation

29,435

170

Heidrick

&

Struggles

International,

Inc.

4,253

9,225

Helios

Technologies,

Inc.

511,803

1,361

Herc

Holdings,

Inc.

161,877

4,333

Hillman

Solutions

Corporation

m

35,747

3,574

Honeywell

International,

Inc.

660,261

77,943

Howmet

Aerospace,

Inc.

3,604,864

1,455

Hubbell,

Inc.

456,012

1,270

IDEX

Corporation

264,185

555

Ingersoll

Rand,

Inc.

35,365

2,021

Interface,

Inc.

19,826

59,767

Janus

International

Group,

Inc.

m

639,507

2,742

JB

Hunt

Transport

Services,

Inc.

516,922

10,652

JetBlue

Airways

Corporation

m

48,999

8,865

Johnson

Controls

International

plc

471,707

3,493

Kennametal,

Inc.

86,906

5,221

L3Harris

Technologies,

Inc.

909,081

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

305

Shares

Common

Stock

(15.6%)

Value

Industrials

(1.8%)

-

continued

5,095

Lincoln

Electric

Holdings,

Inc.

$

926,220

1,122

ManpowerGroup,

Inc.

82,265

10,637

Masco

Corporation

568,548

8,426

Masterbrand,

Inc.

m

102,376

1,360

Matson,

Inc.

120,659

1,070

Maximus,

Inc.

79,908

11,571

Middleby

Corporation

m

1,481,088

1,490

Miller

Industries,

Inc.

58,423

424

Moog,

Inc.

47,895

1,996

MSC

Industrial

Direct

Company,

Inc.

195,907

486

MYR

Group,

Inc.

m

65,493

152

National

Presto

Industries,

Inc.

11,014

5,397

Northrop

Grumman

Corporation

2,375,705

4,659

nVent

Electric

plc

246,880

3,421

Old

Dominion

Freight

Line,

Inc.

1,399,668

17,645

Oshkosh

Corporation

1,683,862

1,373

Otis

Worldwide

Corporation

110,266

14,306

Owens

Corning,

Inc.

1,951,481

6,169

PACCAR,

Inc.

524,488

7,251

Parker-Hannifin

Corporation

2,824,410

512

Paycom

Software,

Inc.

132,746

569

Paylocity

Holding

Corporation

m

103,387

25,500

Pentair

plc

1,651,125

586

Quanta

Services,

Inc.

109,623

20,810

RB

Global,

Inc.

1,300,625

9,027

Regal

Rexnord

Corporation

1,289,778

1,833

Republic

Services,

Inc.

261,221

2,076

Resideo

Technologies,

Inc.

m

32,801

2,996

Saia,

Inc.

m

1,194,355

2,900

Schneider

National,

Inc.

80,301

4,405

Simpson

Manufacturing

Company,

Inc.

659,913

1,999

SiteOne

Landscape

Supply,

Inc.

m

326,737

4,771

SkyWest,

Inc.

m

200,096

204

Snap-On,

Inc.

52,032

8,666

Southwest

Airlines

Company

234,589

3,221

Standex

International

Corporation

469,267

584

Sterling

Construction

Company,

Inc.

m

42,912

917

Tennant

Company

67,996

3,090

Terex

Corporation

178,046

3,385

Textron,

Inc.

264,504

9,588

Timken

Company

704,622

1,723

Titan

International,

Inc.

m

23,140

1,605

Titan

Machinery,

Inc.

m

42,661

1,998

Trane

Technologies

plc

405,414

16,930

TransUnion

1,215,405

2,709

Trex

Company,

Inc.

m

166,956

72,083

Uber

Technologies,

Inc.

m

3,315,097

35

UniFirst

Corporation/MA

5,705

7,779

United

Parcel

Service,

Inc.

1,212,513

3,820

United

Rentals,

Inc.

1,698,257

412

Valmont

Industries,

Inc.

98,967

1,550

Vertiv

Holdings

Company

57,660

3,423

Wabash

National

Corporation

72,294

31,401

WillScot

Mobile

Mini

Holdings

Corporation

m

1,305,968

Total

73,246,579

Information

Technology

(3.9%)

8,702

8x8,

Inc.

m

21,929

10,670

Adobe,

Inc.

m

5,440,633

34,040

Advanced

Micro

Devices,

Inc.

m

3,499,993

1,063

Alarm.com

Holdings,

Inc.

m

64,992

Shares

Common

Stock

(15.6%)

Value

Information

Technology

(3.9%)

-

continued

1,108

Alpha

and

Omega

Semiconductor,

Ltd.

m

$

33,063

538

American

Software,

Inc.

6,165

3,423

Amkor

Technology,

Inc.

77,360

28,237

Amphenol

Corporation

2,371,626

312

ANSYS,

Inc.

m

92,836

106,640

Apple,

Inc.

18,257,834

22,053

Applied

Materials,

Inc.

3,053,238

6,282

Arista

Networks,

Inc.

m

1,155,448

5,476

Autodesk,

Inc.

m

1,133,039

309

Broadcom,

Inc.

256,649

40,605

Calix,

Inc.

m

1,861,333

416

CDW

Corporation

83,932

3,895

Ciena

Corporation

m

184,078

157,194

Cisco

Systems,

Inc.

8,450,749

22,996

Cognex

Corporation

975,950

124

Cognizant

Technology

Solutions

Corporation

8,400

1,758

Cohu,

Inc.

m

60,546

10,614

CommScope

Holding

Company,

Inc.

m

35,663

72

CommVault

Systems,

Inc.

m

4,868

879

Corning,

Inc.

26,783

5,021

Crane

NXT

Company

279,017

1,682

Datadog,

Inc.

m

153,213

8,683

Descartes

Systems

Group,

Inc.

m

637,159

2,311

DocuSign,

Inc.

m

97,062

5,120

Dolby

Laboratories,

Inc.

405,811

54,315

Dropbox,

Inc.

m

1,478,997

22,790

Dynatrace

Holdings,

LLC

m

1,064,977

666

Elastic

NV

m

54,106

555

Enphase

Energy,

Inc.

m

66,683

9,718

Entegris,

Inc.

912,617

3,748

EPAM

Systems,

Inc.

m

958,326

346

F5,

Inc.

m

55,754

29

Fair

Isaac

Corporation

m

25,187

7,459

Five9,

Inc.

m

479,614

25,753

Flex,

Ltd.

m

694,816

395

FormFactor,

Inc.

m

13,801

24,089

Fortinet,

Inc.

m

1,413,543

14

Gartner,

Inc.

m

4,811

3,896

Gilat

Satellite

Networks,

Ltd.

m

25,051

1,071

GoDaddy,

Inc.

m

79,768

38,916

Grid

Dynamics

Holdings,

Inc.

m

473,997

21,317

Guidewire

Software,

Inc.

m

1,918,530

22,575

Hackett

Group,

Inc.

532,544

12,485

Hewlett

Packard

Enterprise

Company

216,864

118

HP,

Inc.

3,033

2,271

HubSpot,

Inc.

m

1,118,468

206

Insight

Enterprises,

Inc.

m

29,973

1,771

IPG

Photonics

Corporation

m

179,827

1,412

JFrog,

Ltd.

m

35,808

14,070

Juniper

Networks,

Inc.

391,005

2,417

Keysight

Technologies,

Inc.

m

319,793

2,159

KLA

Corporation

990,247

4,164

Knowles

Corporation

m

61,669

6,527

Kyndryl

Holdings,

Inc.

m

98,558

2,050

Lam

Research

Corporation

1,284,879

20,724

Lattice

Semiconductor

Corporation

m

1,780,813

1,611

Littelfuse,

Inc.

398,433

4,509

LiveRamp

Holding,

Inc.

m

130,040

4,229

Marvell

Technology,

Inc.

228,916

1,956

MaxLinear,

Inc.

m

43,521

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

306

Shares

Common

Stock

(15.6%)

Value

Information

Technology

(3.9%)

-

continued

7,669

Microchip

Technology,

Inc.

$

598,565

96,620

Microsoft

Corporation

30,507,765

2,067

MKS

Instruments,

Inc.

178,878

2,948

Monolithic

Power

Systems,

Inc.

1,361,976

202

Motorola

Solutions,

Inc.

54,992

2,617

NCR

Corporation

m

70,580

3,074

NetApp,

Inc.

233,255

523

NICE,

Ltd.

ADR

h,m

88,910

6,452

Nova,

Ltd.

m

725,463

35,646

NVIDIA

Corporation

15,505,654

1,334

ON

Semiconductor

Corporation

m

123,995

172

OSI

Systems,

Inc.

m

20,303

17,663

PagerDuty,

Inc.

m

397,241

8,840

Palo

Alto

Networks,

Inc.

m

2,072,450

6,661

PDF

Solutions,

Inc.

m

215,816

918

Plexus

Corporation

m

85,356

10,083

PTC,

Inc.

m

1,428,559

4,701

Q2

Holdings,

Inc.

m

151,701

1,163

Qorvo,

Inc.

m

111,032

52,847

QUALCOMM,

Inc.

5,869,188

5,657

Rackspace

Technology,

Inc.

h,m

13,294

1,688

Rapid7,

Inc.

m

77,277

2,293

RingCentral,

Inc.

m

67,942

1,184

Roper

Industries,

Inc.

573,388

27,360

Salesforce,

Inc.

m

5,548,061

29,725

Samsung

Electronics

Company,

Ltd.

1,502,722

580

Sanmina

Corporation

m

31,482

8,696

ServiceNow,

Inc.

m

4,860,716

2,807

Silicon

Laboratories,

Inc.

m

325,303

2,701

Skyworks

Solutions,

Inc.

266,292

3,776

SolarWinds

Corporation

m

35,645

1,748

Sprinklr,

Inc.

m

24,192

43,465

Sprout

Social,

Inc.

m

2,168,034

1,899

SPS

Commerce,

Inc.

m

323,988

4,334

Synopsys,

Inc.

m

1,989,176

13,533

TE

Connectivity,

Ltd.

1,671,731

295

Teledyne

Technologies,

Inc.

m

120,531

3,388

Teradata

Corporation

m

152,528

72

Teradyne,

Inc.

7,233

15,495

Texas

Instruments,

Inc.

2,463,860

1,546

Trimble,

Inc.

m

83,268

47,201

TTM

Technologies,

Inc.

m

607,949

9,382

Tyler

Technologies,

Inc.

m

3,622,765

11,073

Unisys

Corporation

m

38,202

3,326

Universal

Display

Corporation

522,149

4,447

Upland

Software,

Inc.

m

20,545

20,799

Varonis

Systems,

Inc.

m

635,201

2,150

Verint

Systems,

Inc.

m

49,429

7,515

VeriSign,

Inc.

m

1,522,013

7,459

Viavi

Solutions,

Inc.

m

68,175

8,005

Vishay

Intertechnology,

Inc.

197,884

8,655

Vontier

Corporation

267,613

14,452

Wolfspeed,

Inc.

m

550,621

9,656

Workiva,

Inc.

m

978,539

1,520

Xerox

Holdings

Corporation

23,849

6,433

Yext,

Inc.

m

40,721

1,800

Zoom

Video

Communications,

Inc.

m

125,892

Total

157,674,227

Materials

(0.4%)

611

Albemarle

Corporation

103,894

1,430

Alcoa

Corporation

41,556

462

AptarGroup,

Inc.

57,768

Shares

Common

Stock

(15.6%)

Value

Materials

(0.4%)

-

continued

28,946

Axalta

Coating

Systems,

Ltd.

m

$

778,647

2,552

Ball

Corporation

127,038

447

Berry

Plastics

Group,

Inc.

27,674

883

Carpenter

Technology

Corporation

59,346

3,980

Celanese

Corporation

499,570

13,043

CF

Industries

Holdings,

Inc.

1,118,307

13,695

Cleveland-Cliffs,

Inc.

m

214,053

4,339

Commercial

Metals

Company

214,390

2,935

Eagle

Materials,

Inc.

488,736

8,707

Eastman

Chemical

Company

668,001

126

Hawkins,

Inc.

7,415

6,364

Huntsman

Corporation

155,282

2,448

Ingevity

Corporation

m

116,549

2,615

Innospec,

Inc.

267,253

5,115

Ivanhoe

Mines,

Ltd.

m

43,835

740

Kaiser

Aluminum

Corporation

55,692

3,220

Linde

plc

1,198,967

3,308

LSB

Industries,

Inc.

m

33,841

298

LyondellBasell

Industries

NV

28,221

2,437

Martin

Marietta

Materials,

Inc.

1,000,340

897

Myers

Industries,

Inc.

16,083

4,590

Newmont

Corporation

169,600

19,908

Nucor

Corporation

3,112,616

4,263

O-I

Glass,

Inc.

m

71,320

2,376

Orion

SA

50,561

1,934

PPG

Industries,

Inc.

251,033

84,820

Ranpak

Holdings

Corporation

m

461,421

364

Reliance

Steel

&

Aluminum

Company

95,452

14,502

RPM

International,

Inc.

1,374,935

1,642

Ryerson

Holding

Corporation

47,766

2,259

Schnitzer

Steel

Industries,

Inc.

62,913

2,103

Steel

Dynamics,

Inc.

225,484

12,872

Summit

Materials,

Inc.

m

400,834

5,594

SunCoke

Energy,

Inc.

56,779

2,082

TimkenSteel

Corporation

m

45,221

768

TriMas

Corporation

19,016

1,112

Trinseo

plc

9,085

36,041

Tronox

Holdings

plc

484,391

472

United

States

Lime

&

Minerals,

Inc.

94,872

15,572

United

States

Steel

Corporation

505,779

1,584

Vulcan

Materials

Company

320,000

Total

15,181,536

Real

Estate

(0.5%)

22,867

Agree

Realty

Corporation

1,263,173

925

Alexandria

Real

Estate

Equities,

Inc.

92,592

9,028

Apartment

Income

REIT

Corporation

277,160

8,834

AvalonBay

Communities,

Inc.

1,517,151

3,160

Camden

Property

Trust

298,873

1,962

CareTrust

REIT,

Inc.

40,221

14,379

CBRE

Group,

Inc.

m

1,062,033

1,719

Centerspace

103,587

3,668

Chatham

Lodging

Trust

35,103

12,538

Compass,

Inc.

m

36,360

18,711

CubeSmart

713,450

8,751

Cushman

and

Wakefield

plc

m

66,683

678

EastGroup

Properties,

Inc.

112,907

11,276

Elme

Communities

153,805

8,893

EPR

Properties

369,415

27,462

Equity

Commonwealth

504,477

10,775

Equity

Residential

632,600

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

307

Shares

Common

Stock

(15.6%)

Value

Real

Estate

(0.5%)

-

continued

5,177

Essential

Properties

Realty

Trust,

Inc.

$

111,978

714

Essex

Property

Trust,

Inc.

151,432

3,539

Extra

Space

Storage,

Inc.

430,272

7,111

First

Industrial

Realty

Trust,

Inc.

338,412

3,431

FirstService

Corporation

499,348

11,850

Four

Corners

Property

Trust,

Inc.

262,951

2,603

Getty

Realty

Corporation

72,181

44,857

Healthcare

Realty

Trust,

Inc.

684,966

47,562

Host

Hotels

&

Resorts,

Inc.

764,321

1,543

Howard

Hughes

Holdings,

Inc.

m

114,383

18,811

Independence

Realty

Trust,

Inc.

264,671

2,478

Kennedy-Wilson

Holdings,

Inc.

36,526

933

LTC

Properties,

Inc.

29,977

28,781

LXP

Industrial

Trust

256,151

7,358

Mid-America

Apartment

Communities,

Inc.

946,607

2,882

National

Storage

Affiliates

Trust

91,475

10,056

NetSTREIT

Corporation

h

156,672

5,290

NNN

REIT,

Inc.

186,949

9,364

Pebblebrook

Hotel

Trust

127,257

6,001

Public

Storage

1,581,383

2,947

Realty

Income

Corporation

147,173

9,724

Regency

Centers

Corporation

577,995

14,541

Rexford

Industrial

Realty,

Inc.

717,598

869

RMR

Group,

Inc.

21,308

12,315

Sabra

Health

Care

REIT,

Inc.

171,671

15,404

SBA

Communications

Corporation

3,083,419

22,810

Service

Properties

Trust

175,409

1,790

Terreno

Realty

Corporation

101,672

34,907

UDR,

Inc.

1,245,133

1,805

Welltower,

Inc.

147,866

Total

20,776,746

Utilities

(0.3%)

1,746

AES

Corporation

26,539

2,147

Alliant

Energy

Corporation

104,022

23,848

American

Electric

Power

Company,

Inc.

1,793,847

1,743

Artesian

Resources

Corporation

73,189

981

Avista

Corporation

31,755

5,002

Black

Hills

Corporation

253,051

2,765

CenterPoint

Energy,

Inc.

74,240

208

Clearway

Energy,

Inc.

4,144

12,015

Constellation

Energy

Corporation

1,310,596

10,422

Duke

Energy

Corporation

919,846

2,172

Edison

International

137,466

10,086

Entergy

Corporation

932,955

19,999

Evergy,

Inc.

1,013,949

510

NextEra

Energy

Partners,

LP

h

15,147

99,900

NiSource,

Inc.

2,465,532

10,953

NorthWestern

Corporation

526,401

26,834

OGE

Energy

Corporation

894,377

3,984

Pinnacle

West

Capital

Corporation

293,541

8,385

Portland

General

Electric

Company

339,425

11,489

Public

Service

Enterprise

Group,

Inc.

653,839

671

Spire,

Inc.

37,965

23,453

UGI

Corporation

539,419

Total

12,441,245

Total

Common

Stock

(cost

$493,114,801)

636,950,103

Shares

Collateral

Held

for

Securities

Loaned

(

0.3%

)

Value

10,433,657

Thrivent

Cash

Management

Trust

$

10,433,657

Total

Collateral

Held

for

Securities

Loaned

(cost

$10,433,657)

10,433,657

Shares

or

Principal

Amount

Short-Term

Investments

(

8.4%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

600,000

5.265%,

10/4/2023

n,o

599,825

3,100,000

5.250%,

10/17/2023

n

3,093,385

6,100,000

5.270%,

10/25/2023

n,o

6,080,054

600,000

5.275%,

11/10/2023

n,o

596,674

7,100,000

5.285%,

11/15/2023

n,o

7,055,613

2,500,000

5.300%,

12/6/2023

n,o

2,476,882

1,000,000

5.315%,

12/13/2023

n,o

989,762

8,500,000

5.315%,

12/15/2023

n,o

8,410,573

Thrivent

Core

Short-Term

Reserve

Fund

31,129,633

5.650%

311,296,335

U.S.

Treasury

Bills

700,000

5.202%,

10/3/2023

n,p

699,898

200,000

5.307%,

12/14/2023

n,p

197,851

Total

Short-Term

Investments

(cost

$341,301,647)

341,496,852

Total

Investments

(cost

$4,143,764,360)

100.7%

$4,107,385,342

Other

Assets

and

Liabilities,

Net

(0.7%)

(27,910,054)

Total

Net

Assets

100.0%

$4,079,475,288

a

The

stated

interest

rate

represents

the

weighted

average

of

all

contracts

within

the

bank

loan

facility.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

September

29,

2023.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

All

or

a

portion

of

the

loan

is

unfunded.

e

Denotes

investments

purchased

on

a

when-issued

or

delayed-delivery

basis.

f

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$226,079,455

or

5.5%

of

total

net

assets.

g

Denotes

step

coupon

securities.

Step

coupon

securities

pay

an

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

is

as

of

September

29,

2023.

h

All

or

a

portion

of

the

security

is

on

loan.

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

308

i

Denotes

interest

only

security.  Interest

only

securities

represent

the

right

to

receive

monthly

interest

payments

on

an

underlying

pool

of

mortgages

or

assets.  The

principal

shown

is

the

outstanding

par

amount

of

the

pool

as

of

the

end

of

the

period.

The

actual

effective

yield

of

the

security

is

different

than

the

stated

coupon

rate.

j

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

k

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

l

Defaulted

security.  Interest

is

not

being

accrued.

m

Non-income

producing

security.

n

The

interest

rate

shown

reflects

the

yield.

o

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

p

At

September

29,

2023,

$808,716

of

investments

were

segregated

to

cover

exposure

to

a

counterparty

for

margin

on

open

mortgage-backed

security

transactions.

*

Denotes

restricted

securities.

Restricted

securities

are

investment

securities

which

cannot

be

offered

for

public

sale

without

first

being

registered

under

the

Securities

Act

of

1933.

The

value

of

all

restricted

securities

held

in

Moderately

Conservative

Allocation

Portfolio

as

of

September

29,

2023

was

$562,479

or

0.01%

of

total

net

assets.

The

following

table

indicates

the

acquisition

date

and

cost

of

restricted

securities

shown

in

the

schedule

as

of

September

29,

2023.

Security

Acquisition

Date

Cost

Massachusetts

Mutual

Life

Insurance

Company,

12/1/2061

11/18/2021

$

992,170

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Moderately

Conservative

Allocation

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

6,755,684

Common

Stock

3,363,799

Total

lending

$10,119,483

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$10,433,657

Net

amounts

due

to

counterparty

$314,174

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

CLO

-

Collateralized

Loan

Obligation

ETF

-

Exchange

Traded

Fund

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Reference

Rate

Index:

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

PRIME

-

Federal

Reserve

Prime

Loan

Rate

SOFR30A

-

Secured

Overnight

Financing

Rate

30

Year

Average

SOFRRATE

-

Secured

Overnight

Financing

Rate

TSFR1M

-

CME

Term

SOFR

1

Month

TSFR3M

-

CME

Term

SOFR

3

Month

TSFR6M

-

CME

Term

SOFR

6

Month

USISOA05

-

USD

SOFR

Spread-Adjusted

ICE

Swap

Rate

5

Year

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

309

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Moderately

Conservative

Allocation

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Bank

Loans

Basic

Materials

2,660,257

–

2,293,247

367,010

Capital

Goods

10,525,741

–

9,319,639

1,206,102

Communications

Services

14,615,427

–

14,615,427

–

Consumer

Cyclical

17,474,106

–

17,474,106

–

Consumer

Non-Cyclical

16,107,888

–

15,402,212

705,676

Energy

2,344,739

–

2,344,739

–

Financials

7,906,553

–

7,906,553

–

Technology

20,475,486

–

20,475,486

–

Transportation

5,888,476

–

5,888,476

–

Utilities

793,954

–

793,954

–

Long-Term

Fixed

Income

Asset-Backed

Securities

42,953,591

–

42,953,591

–

Basic

Materials

12,245,267

–

12,245,267

–

Capital

Goods

28,813,958

–

28,813,958

–

Collateralized

Mortgage

Obligations

66,020,018

–

66,020,018

–

Commercial

Mortgage-Backed

Securities

68,715,057

–

68,715,057

–

Communications

Services

44,264,271

–

44,264,271

–

Consumer

Cyclical

44,954,274

–

44,954,274

–

Consumer

Non-Cyclical

54,035,711

–

54,035,711

–

Energy

39,044,740

–

39,044,740

–

Financials

130,901,562

–

130,901,562

–

Foreign

Government

826,103

–

826,103

–

Mortgage-Backed

Securities

373,964,406

–

373,964,406

–

Technology

27,066,188

–

27,066,188

–

Transportation

12,948,313

–

12,948,313

–

U.S.

Government

&

Agencies

548,407,577

–

548,407,577

–

Utilities

25,796,021

–

25,796,021

–

Registered

Investment

Companies

U.S.

Affiliated

1,156,724,107

1,156,724,107

–

–

U.S.

Unaffiliated

22,117,190

22,117,190

–

–

Common

Stock

Communications

Services

50,680,107

50,618,585

61,522

–

Consumer

Discretionary

72,804,925

72,804,925

–

–

Consumer

Staples

31,267,612

31,267,612

–

–

Energy

26,795,386

26,795,386

–

–

Financials

89,301,482

89,301,482

–

–

Health

Care

86,780,258

86,780,258

–

–

Industrials

73,246,579

72,663,700

582,879

–

Information

Technology

157,674,227

156,171,505

1,502,722

–

Materials

15,181,536

15,137,701

43,835

–

Real

Estate

20,776,746

20,776,746

–

–

Utilities

12,441,245

12,441,245

–

–

Short-Term

Investments

30,200,517

–

30,200,517

–

Subtotal

Investments

in

Securities

$3,465,741,601

$1,813,600,442

$1,649,862,371

$2,278,788

Other

Investments  *

Total

Affiliated

Short-Term

Investments

311,296,335

U.S.

Affiliated

Registered

Investment

Cos.

319,913,749

Collateral

Held

for

Securities

Loaned

10,433,657

Subtotal

Other

Investments

$641,643,741

Total

Investments

at

Value

$4,107,385,342

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

310

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

EAFE

-

Europe,

Australasia

and

Far

East

ICE

-

Intercontinental

Exchange

MSCI

-

Morgan

Stanley

Capital

International

S&P

-

Standard

&

Poor's

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Moderately

Conservative

Allocation

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Futures

Contracts

8,600,849

8,600,849

–

–

Total

Asset

Derivatives

$8,600,849

$8,600,849

$–

$–

Liability

Derivatives

Futures

Contracts

22,747,851

22,747,851

–

–

Total

Liability

Derivatives

$22,747,851

$22,747,851

$–

$–

The

following

table

presents

Moderately

Conservative

Allocation

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$26,010,634

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Amount

Value

and

Unrealized

CBOT

10-Yr.

U.S.

Treasury

Note

30

December

2023

$

3,310,865

(

$

68,989)

CBOT

2-Yr.

U.S.

Treasury

Note

660

December

2023

134,383,920

(

594,700)

CBOT

5-Yr.

U.S.

Treasury

Note

45

December

2023

4,792,892

(

51,720)

CBOT

U.S.

Long

Bond

517

December

2023

62,240,803

(

3,415,897)

CME

E-mini

S&P

500

Index

1,636

December

2023

367,665,748

(

13,839,848)

CME

Ultra

Long

Term

U.S.

Treasury

Bond

218

December

2023

27,872,277

(

1,998,402)

ICE

mini

MSCI

EAFE

Index

737

December

2023

77,382,833

(

2,153,558)

Ultra

10-Yr.

U.S.

Treasury

Note

176

December

2023

20,259,737

(

624,737)

Total

Futures

Long

Contracts

$

697,909,075

(

$

22,747,851)

CME

E-mini

Russell

2000

Index

(980)

December

2023

(

$

91,961,182)

$

3,829,782

CME

E-mini

S&P

Mid-Cap

400

Index

(410)

December

2023

(

106,795,765)

3,459,365

CME

Euro

Foreign

Exchange

Currency

(312)

December

2023

(

41,955,289)

566,539

Eurex

Euro

STOXX

50

Index

(924)

December

2023

(

41,578,333)

665,799

ICE

US

mini

MSCI

Emerging

Markets

Index

(66)

December

2023

(

3,232,514)

79,364

Total

Futures

Short

Contracts

(

$

285,523,083)

$8,600,849

Total

Futures

Contracts

$

412,385,992

($14,147,002)

Moderately

Conservative

Allocation

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

311

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Moderately

Conservative

Allocation

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$138,454

$6,312

$7,409

$134,283

18,122

3.3%

Core

Emerging

Markets

Equity

33,336

–

–

34,157

4,105

0.8

Core

International

Equity

28,272

–

–

30,539

3,238

0.8

Core

Low

Volatility

Equity

92,875

–

52,000

42,583

3,802

1.1

Core

Mid

Cap

Value

–

40,970

–

42,260

4,352

1.0

Core

Small

Cap

Value

36,652

–

–

36,091

4,010

0.9

Global

Stock

48,147

662

–

52,799

4,279

1.3

High

Yield

95,081

4,322

5,254

94,849

23,801

2.3

Income

288,493

8,946

13,636

278,137

33,588

6.8

International

Allocation

170,279

3,069

67,000

114,594

13,398

2.8

International

Index

18,946

428

–

20,138

1,678

0.5

Large

Cap

Value

260,835

18,195

–

266,933

13,395

6.5

Limited

Maturity

Bond

168,137

3,950

8,364

164,958

17,552

4.1

Mid

Cap

Stock

89,157

5,025

–

93,334

5,177

2.3

Small

Cap

Stock

70,213

9,859

–

70,983

4,450

1.7

Total

U.S.

Affiliated

Registered

Investment

Companies

1,538,877

1,476,638

36.2

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

474,855

670,283

833,842

311,296

31,130

7.6

Total

Affiliated

Short-Term

Investments

474,855

311,296

7.6

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

7,007

294,683

291,256

10,434

10,434

0.3

Total

Collateral

Held

for

Securities

Loaned

7,007

10,434

0.3

Total

Value

$2,020,739

$1,798,368

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

($2,311)

($763)

$

–

$6,313

Core

Emerging

Markets

Equity

–

821

–

–

Core

International

Equity

–

2,267

–

–

Core

Low

Volatility

Equity

4,761

(3,053)

–

–

Core

Mid

Cap

Value

Fund

–

1,290

–

–

Core

Small

Cap

Value

Fund

–

(561)

–

–

Global

Stock

–

3,990

–

662

High

Yield

(1,063)

1,763

–

4,321

Income

(2,482)

(3,184)

–

8,944

International

Allocation

(9,394)

17,640

–

3,069

International

Index

–

764

–

428

Large

Cap

Value

–

(12,097)

13,540

4,654

Limited

Maturity

Bond

(360)

1,595

–

3,950

Mid

Cap

Stock

–

(848)

4,628

397

Small

Cap

Stock

–

(9,089)

9,412

447

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

–

–

–

15,133

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$48,318

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

98

Total

Affiliated

Income

from

Securities

Loaned,

Net

$98

Total

Value

($10,849)

$535

$

27,580

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

312

Principal

Amount

Long-Term

Fixed

Income

(

72.9%

)

Value

Basic

Materials

(1.8%)

ATI,

Inc.

$

30,000

7.250%, 

8/15/2030

$

29,775

ATI,

Inc.,

Convertible

12,000

3.500%, 

6/15/2025

32,274

Cascades,

Inc./Cascades

USA,

Inc.

30,000

5.125%, 

1/15/2026

a

28,718

Chemours

Company

52,000

5.750%, 

11/15/2028

a

45,131

Cleveland-Cliffs,

Inc.

37,000

5.875%, 

6/1/2027

35,217

40,000

4.625%, 

3/1/2029

a

34,843

Consolidated

Energy

Finance

SA

106,000

5.625%, 

10/15/2028

a

87,582

First

Quantum

Minerals,

Ltd.

69,000

6.875%, 

10/15/2027

a

66,197

Hecla

Mining

Company

20,000

7.250%, 

2/15/2028

19,350

Hudbay

Minerals,

Inc.

40,000

4.500%, 

4/1/2026

a

37,423

Illuminate

Buyer,

LLC/Illuminate

Holdings

IV,

Inc.

34,000

9.000%, 

7/1/2028

a

32,111

Methanex

Corporation

63,000

4.250%, 

12/1/2024

61,316

Mineral

Resources,

Ltd.

9,000

9.250%, 

10/1/2028

a

9,090

Novelis

Corporation

25,000

3.250%, 

11/15/2026

a

22,327

15,000

3.875%, 

8/15/2031

a

11,979

Olin

Corporation

50,000

5.125%, 

9/15/2027

46,750

10,000

5.625%, 

8/1/2029

9,409

Peabody

Energy

Corporation,

Convertible

11,000

3.250%, 

3/1/2028

b

16,583

SCIL

IV,

LLC/SCIL

USA

Holdings,

LLC

44,000

5.375%, 

11/1/2026

a

40,204

SNF

Group

SACA

40,000

3.375%, 

3/15/2030

a

32,284

SunCoke

Energy,

Inc.

47,000

4.875%, 

6/30/2029

a

39,937

Taseko

Mines,

Ltd.

37,000

7.000%, 

2/15/2026

a,b

34,563

Unifrax

Escrow

Issuer

Corporation

36,000

5.250%, 

9/30/2028

a

25,637

United

States

Steel

Corporation

58,000

6.875%, 

3/1/2029

b

57,017

United

States

Steel

Corporation,

Convertible

13,000

5.000%, 

11/1/2026

32,019

Total

887,736

Capital

Goods

(4.0%)

Advanced

Drainage

Systems,

Inc.

32,000

6.375%, 

6/15/2030

a

30,734

AECOM

80,000

5.125%, 

3/15/2027

75,768

Amsted

Industries,

Inc.

65,000

5.625%, 

7/1/2027

a

61,263

10,000

4.625%, 

5/15/2030

a

8,467

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Capital

Goods

(4.0%)

-

continued

ARD

Finance

SA

$

18,000

6.500%, 

6/30/2027

a

$

13,580

Ardagh

Packaging

Finance

plc/

Ardagh

Holdings

USA,

Inc.

41,000

5.250%, 

8/15/2027

a,b

34,214

7,000

5.250%, 

8/15/2027

a

5,842

Bombardier,

Inc.

40,000

7.875%, 

4/15/2027

a

39,030

52,000

6.000%, 

2/15/2028

a

47,174

Brand

Industrial

Services,

Inc.

15,000

10.375%, 

8/1/2030

a

15,023

Builders

FirstSource,

Inc.

20,000

5.000%, 

3/1/2030

a

17,832

Canpack

SA/Canpack

US,

LLC

54,000

3.125%, 

11/1/2025

a

49,814

Chart

Industries,

Inc.

48,000

7.500%, 

1/1/2030

a

48,263

Chart

Industries,

Inc.,

Convertible

12,000

1.000%, 

11/15/2024

34,848

Clean

Harbors,

Inc.

33,000

6.375%, 

2/1/2031

a

32,088

Clydesdale

Acquisition

Holdings,

Inc.

8,000

6.625%, 

4/15/2029

a

7,438

15,000

8.750%, 

4/15/2030

a

12,865

Cornerstone

Building

Brands,

Inc.

40,000

6.125%, 

1/15/2029

a

30,324

Covanta

Holding

Corporation

17,000

4.875%, 

12/1/2029

a

13,947

CP

Atlas

Buyer,

Inc.

35,000

7.000%, 

12/1/2028

a,b

27,445

Crown

Cork

&

Seal

Company,

Inc.

47,000

7.375%, 

12/15/2026

47,705

Fluor

Corporation,

Convertible

35,000

1.125%, 

8/15/2029

a

36,173

GFL

Environmental,

Inc.

68,000

4.000%, 

8/1/2028

a

59,416

54,000

3.500%, 

9/1/2028

a

46,489

Greenbrier

Companies,

Inc.,

Convertible

23,000

2.875%, 

4/15/2028

21,666

H&E

Equipment

Services,

Inc.

109,000

3.875%, 

12/15/2028

a

93,074

Herc

Holdings,

Inc.

40,000

5.500%, 

7/15/2027

a

37,826

Howmet

Aerospace,

Inc.

120,000

3.000%, 

1/15/2029

101,575

Kaman

Corporation,

Convertible

10,000

3.250%, 

5/1/2024

9,707

Mauser

Packaging

Solutions

Holding

Company

24,000

9.250%, 

4/15/2027

a

20,978

MIWD

Holdco

II,

LLC

24,000

5.500%, 

2/1/2030

a

19,830

Mueller

Water

Products,

Inc.

29,000

4.000%, 

6/15/2029

a

25,256

Nesco

Holdings

II,

Inc.

55,000

5.500%, 

4/15/2029

a

48,263

New

Enterprise

Stone

and

Lime

Company,

Inc.

83,000

5.250%, 

7/15/2028

a

74,473

OI

European

Group

BV

55,000

4.750%, 

2/15/2030

a

47,842

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

313

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Capital

Goods

(4.0%)

-

continued

Owens-Brockway

Glass

Container,

Inc.

$

25,000

6.625%, 

5/13/2027

a

$

24,372

Pactiv

Evergreen

Group

35,000

4.375%, 

10/15/2028

a

30,368

Patrick

Industries,

Inc.,

Convertible

10,000

1.750%, 

12/1/2028

9,435

PGT

Innovations,

Inc.

41,000

4.375%, 

10/1/2029

a

37,805

Sealed

Air

Corporation

40,000

6.125%, 

2/1/2028

a

38,741

Silgan

Holdings,

Inc.

20,000

4.125%, 

2/1/2028

17,893

SRM

Escrow

Issuer,

LLC

100,000

6.000%, 

11/1/2028

a

92,346

Titan

Acquisition,

Ltd./Titan

Co-

Borrower,

LLC

20,000

7.750%, 

4/15/2026

a

19,600

TransDigm,

Inc.

20,000

6.250%, 

3/15/2026

a

19,652

157,000

5.500%, 

11/15/2027

147,007

Triumph

Group,

Inc.

42,000

9.000%, 

3/15/2028

a

41,530

United

Rentals

North

America,

Inc.

7,000

5.500%, 

5/15/2027

6,803

57,000

4.875%, 

1/15/2028

53,244

20,000

4.000%, 

7/15/2030

17,045

Waste

Pro

USA,

Inc.

15,000

5.500%, 

2/15/2026

a

14,007

WESCO

Distribution,

Inc.

70,000

7.250%, 

6/15/2028

a

70,340

Total

1,936,420

Collateralized

Mortgage

Obligations

(0.1%)

GMACM

Mortgage

Loan

Trust

14,790

3.631%, 

11/19/2035,

Ser.

2005-AR6,

Class

1A1

c

13,217

Residential

Accredit

Loans,

Inc.

Trust

41,144

6.000%, 

1/25/2037,

Ser.

2007-QS1,

Class

1A1

30,822

Total

44,039

Communications

Services

(4.3%)

Allen

Media,

LLC/Allen

Media

Co-

Issuer,

Inc.

38,000

10.500%, 

2/15/2028

a

21,735

Altice

Financing

SA

15,000

5.750%, 

8/15/2029

a

12,293

Altice

France

SA/France

2,000

5.125%, 

7/15/2029

a

1,422

139,000

5.500%, 

10/15/2029

a

99,957

AMC

Networks,

Inc.

20,000

5.000%, 

4/1/2024

19,724

62,000

4.250%, 

2/15/2029

38,043

Cable

One,

Inc.,

Convertible

36,000

1.125%, 

3/15/2028

26,784

CCO

Holdings,

LLC/CCO

Holdings

Capital

Corporation

17,000

5.500%, 

5/1/2026

a

16,421

10,000

5.125%, 

5/1/2027

a

9,317

22,000

5.000%, 

2/1/2028

a

19,979

17,000

6.375%, 

9/1/2029

a

15,852

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Communications

Services

(4.3%)

-

continued

$

34,000

4.750%, 

3/1/2030

a

$

28,541

85,000

4.500%, 

8/15/2030

a

69,769

21,000

4.250%, 

2/1/2031

a

16,717

90,000

4.750%, 

2/1/2032

a

72,000

45,000

4.250%, 

1/15/2034

a

33,133

Cengage

Learning,

Inc.

2,000

9.500%, 

6/15/2024

a

2,002

CenterPoint

Energy,

Inc.,

Convertible

800

3.369%, 

9/15/2029

32,264

Cimpress

plc

31,000

7.000%, 

6/15/2026

29,013

Clear

Channel

Outdoor

Holdings,

Inc.

9,000

7.500%, 

6/1/2029

a

6,882

Clear

Channel

Worldwide

Holdings,

Inc.

72,000

5.125%, 

8/15/2027

a

63,935

Connect

Finco

SARL/Connect

US

Finco,

LLC

25,000

6.750%, 

10/1/2026

a

23,317

CSC

Holdings,

LLC

102,000

5.375%, 

2/1/2028

a

83,039

37,000

6.500%, 

2/1/2029

a

30,652

8,000

4.125%, 

12/1/2030

a

5,662

DIRECTV

Financing,

LLC/DIRECTV

Financing

Co-Obligor,

Inc.

80,000

5.875%, 

8/15/2027

a

70,734

DISH

DBS

Corporation

19,000

5.875%, 

11/15/2024

17,685

16,000

5.250%, 

12/1/2026

a

13,598

17,000

7.375%, 

7/1/2028

10,712

31,000

5.750%, 

12/1/2028

a

23,831

29,000

5.125%, 

6/1/2029

16,077

DISH

Network

Corporation

10,000

11.750%, 

11/15/2027

a

10,075

Frontier

Communications

Holdings,

LLC

48,000

5.875%, 

10/15/2027

a

43,654

22,000

6.750%, 

5/1/2029

a,b

16,926

14,000

8.750%, 

5/15/2030

a

13,293

GCI,

LLC

70,000

4.750%, 

10/15/2028

a

60,375

Gray

Escrow

II,

Inc.

74,000

5.375%, 

11/15/2031

a

48,428

Gray

Television,

Inc.

40,000

4.750%, 

10/15/2030

a,b

26,499

Hughes

Satellite

Systems

Corporation

20,000

6.625%, 

8/1/2026

b

17,100

Iliad

Holding

SASU

68,000

6.500%, 

10/15/2026

a

63,887

LCPR

Senior

Secured

Financing

DAC

36,000

6.750%, 

10/15/2027

a

33,066

Level

3

Financing,

Inc.

74,000

4.625%, 

9/15/2027

a

53,218

11,000

4.250%, 

7/1/2028

a

6,853

26,000

10.500%, 

5/15/2030

a

26,171

McGraw-Hill

Education,

Inc.

33,000

5.750%, 

8/1/2028

a

28,471

3,000

8.000%, 

8/1/2029

a

2,603

News

Corporation

46,000

3.875%, 

5/15/2029

a

39,560

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

314

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Communications

Services

(4.3%)

-

continued

Outfront

Media

Capital,

LLC/

Outfront

Media

Capital

Corporation

$

22,000

6.250%, 

6/15/2025

a

$

21,554

18,000

4.625%, 

3/15/2030

a,b

14,150

Paramount

Global

75,000

6.375%, 

3/30/2062

c

58,906

Playtika

Holding

Corporation

42,000

4.250%, 

3/15/2029

a

35,070

Radiate

Holdco,

LLC/Radiate

Finance,

Inc.

25,000

6.500%, 

9/15/2028

a

13,125

Rogers

Communications,

Inc.

100,000

5.250%, 

3/15/2082

a,c

88,428

Scripps

Escrow

II,

Inc.

21,000

3.875%, 

1/15/2029

a

15,793

Sirius

XM

Radio,

Inc.

40,000

5.000%, 

8/1/2027

a

36,536

20,000

4.000%, 

7/15/2028

a

17,071

30,000

4.125%, 

7/1/2030

a

24,018

TEGNA,

Inc.

62,000

4.625%, 

3/15/2028

53,630

Telecom

Italia

Capital

SA

16,000

6.000%, 

9/30/2034

13,341

Telecom

Italia

SPA/Milano

22,000

5.303%, 

5/30/2024

a

21,630

Telesat

Canada/Telesat,

LLC

20,000

4.875%, 

6/1/2027

a

12,960

10,000

6.500%, 

10/15/2027

a

5,100

United

States

Cellular

Corporation

35,000

6.700%, 

12/15/2033

34,038

Uniti

Group,

LP/Uniti

Group

Finance,

Inc./CSL

Capital,

LLC

69,000

4.750%, 

4/15/2028

a

56,344

Univision

Communications,

Inc.

47,000

6.625%, 

6/1/2027

a

43,772

Vodafone

Group

plc

64,000

7.000%, 

4/4/2079

c

63,565

VTR

Finance

NV

30,000

6.375%, 

7/15/2028

a

11,197

VZ

Secured

Financing

BV

12,000

5.000%, 

1/15/2032

a

9,427

YPSO

Finance

BIS

SA

23,000

10.500%, 

5/15/2027

a

14,345

Total

2,085,269

Consumer

Cyclical

(5.7%)

1011778

B.C.,

ULC/New

Red

Finance,

Inc.

100,000

4.375%, 

1/15/2028

a

90,135

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation

20,000

6.625%, 

7/15/2026

a

18,951

32,000

6.000%, 

6/1/2029

a

23,856

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation/

Atlas

Luxco

4

SARL

35,000

4.625%, 

6/1/2028

a

29,168

40,000

4.625%, 

6/1/2028

a

33,208

American

Axle

&

Manufacturing,

Inc.

95,000

6.500%, 

4/1/2027

90,196

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Consumer

Cyclical

(5.7%)

-

continued

Arko

Corporation

$

27,000

5.125%, 

11/15/2029

a

$

21,777

Ashton

Woods

USA,

LLC/Ashton

Woods

Finance

Company

25,000

4.625%, 

8/1/2029

a

21,097

27,000

4.625%, 

4/1/2030

a

22,102

Bloomin'

Brands,

Inc.,

Convertible

3,000

5.000%, 

5/1/2025

6,568

Booking

Holdings,

Inc.,

Convertible

11,000

0.750%, 

5/1/2025

18,370

Boyd

Gaming

Corporation

40,000

4.750%, 

6/15/2031

a

34,039

Boyne

USA,

Inc.

18,000

4.750%, 

5/15/2029

a

15,744

Brookfield

Residential

Properties,

Inc./Brookfield

Residential

US,

LLC

30,000

6.250%, 

9/15/2027

a

27,010

Burlington

Stores,

Inc.,

Convertible

20,000

2.250%, 

4/15/2025

19,388

Caesars

Entertainment,

Inc.

60,000

6.250%, 

7/1/2025

a

59,179

5,000

8.125%, 

7/1/2027

a

5,024

76,000

4.625%, 

10/15/2029

a

64,376

Carnival

Corporation

27,000

7.625%, 

3/1/2026

a

26,265

47,000

5.750%, 

3/1/2027

a

42,545

Cedar

Fair,

LP

69,000

5.250%, 

7/15/2029

59,968

Churchill

Downs,

Inc.

20,000

4.750%, 

1/15/2028

a

18,041

20,000

6.750%, 

5/1/2031

a

18,900

Cinemark

USA,

Inc.

56,000

5.875%, 

3/15/2026

a,b

53,767

Clarios

Global,

LP/Clarios

US

Finance

Company,

Inc.

15,000

8.500%, 

5/15/2027

a,b

14,957

Cracker

Barrel

Old

Country

Store,

Inc.,

Convertible

2,000

0.625%, 

6/15/2026

1,651

Expedia

Group,

Inc.,

Convertible

39,000

Zero

Coupon, 

2/15/2026

33,883

Ford

Motor

Company

78,000

3.250%, 

2/12/2032

60,112

48,000

6.100%, 

8/19/2032

45,212

Ford

Motor

Company,

Convertible

44,000

Zero

Coupon, 

3/15/2026

43,230

Ford

Motor

Credit

Company,

LLC

106,000

2.300%, 

2/10/2025

99,424

60,000

4.134%, 

8/4/2025

56,885

57,000

2.700%, 

8/10/2026

50,865

Forestar

Group,

Inc.

37,000

3.850%, 

5/15/2026

a

33,585

General

Motors

Financial

Company,

Inc.

40,000

5.700%, 

9/30/2030

c,d

34,184

Goodyear

Tire

&

Rubber

Company

30,000

5.000%, 

7/15/2029

25,840

Guitar

Center

Escrow

Issuer

II,

Inc.

12,000

8.500%, 

1/15/2026

a,b

10,422

Hanesbrands,

Inc.

36,000

4.875%, 

5/15/2026

a,b

33,003

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

315

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Consumer

Cyclical

(5.7%)

-

continued

Hilton

Domestic

Operating

Company,

Inc.

$

21,000

3.625%, 

2/15/2032

a

$

16,930

Hilton

Grand

Vacations

Borrower

Escrow,

LLC/Hilton

Grand

Vacations

Borrower

Escrow,

Inc.

34,000

5.000%, 

6/1/2029

a

29,493

Hilton

Worldwide

Finance,

LLC

50,000

4.875%, 

4/1/2027

b

47,563

International

Game

Technology

plc

72,000

5.250%, 

1/15/2029

a

66,349

Jacobs

Entertainment,

Inc.

28,000

6.750%, 

2/15/2029

a

24,850

Jaguar

Land

Rover

Automotive

plc

51,000

5.500%, 

7/15/2029

a

43,605

KB

Home

35,000

4.800%, 

11/15/2029

30,800

L

Brands,

Inc.

69,000

6.625%, 

10/1/2030

a

64,688

10,000

6.875%, 

11/1/2035

8,931

Light

&

Wonder

International,

Inc.

43,000

7.250%, 

11/15/2029

a

42,140

Live

Nation

Entertainment,

Inc.,

Convertible

23,000

2.000%, 

2/15/2025

23,425

30,000

3.125%, 

1/15/2029

a

31,110

Macy's

Retail

Holdings,

LLC

65,000

5.875%, 

4/1/2029

a

56,913

Marriott

Vacations

Worldwide

Corporation,

Convertible

19,000

Zero

Coupon, 

1/15/2026

16,634

18,000

3.250%, 

12/15/2027

a

15,705

Mattamy

Group

Corporation

43,000

5.250%, 

12/15/2027

a

39,243

Michaels

Companies,

Inc.

37,000

5.250%, 

5/1/2028

a,b

29,530

NCL

Corporation,

Ltd.

20,000

3.625%, 

12/15/2024

a

19,206

15,000

5.875%, 

3/15/2026

a

13,849

25,000

5.875%, 

2/15/2027

a

23,774

Nissan

Motor

Company,

Ltd.

17,000

3.522%, 

9/17/2025

a

16,056

17,000

4.345%, 

9/17/2027

a

15,518

22,000

4.810%, 

9/17/2030

a

18,975

PENN

Entertainment,

Inc.

35,000

4.125%, 

7/1/2029

a

28,601

PetSmart,

Inc./PetSmart

Finance

Corporation

60,000

4.750%, 

2/15/2028

a

52,526

29,000

7.750%, 

2/15/2029

a

27,025

Prime

Security

Services

Borrower,

LLC/Prime

Finance,

Inc.

54,000

5.750%, 

4/15/2026

a

52,389

41,000

6.250%, 

1/15/2028

a,b

37,973

Realogy

Group,

LLC/Realogy

Group

Co-Issuer

Corporation

50,000

5.750%, 

1/15/2029

a

36,147

Royal

Caribbean

Cruises,

Ltd.

9,000

11.500%, 

6/1/2025

a

9,501

99,000

4.250%, 

7/1/2026

a

90,772

14,000

9.250%, 

1/15/2029

a

14,790

Scientific

Games

Holdings,

LP/

Scientific

Games

US

FinCo,

Inc.

6,000

6.625%, 

3/1/2030

a

5,175

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Consumer

Cyclical

(5.7%)

-

continued

SeaWorld

Parks

and

Entertainment,

Inc.

$

29,000

5.250%, 

8/15/2029

a

$

25,474

Six

Flags

Theme

Parks,

Inc.

15,000

7.000%, 

7/1/2025

a

14,962

Staples,

Inc.

44,000

7.500%, 

4/15/2026

a

36,183

29,000

10.750%, 

4/15/2027

a

17,024

Station

Casinos,

LLC

32,000

4.625%, 

12/1/2031

a

25,596

Tenneco,

Inc.

30,000

8.000%, 

11/17/2028

a

24,412

Tripadvisor,

Inc.

11,000

7.000%, 

7/15/2025

a

10,979

Uber

Technologies,

Inc.

30,000

6.250%, 

1/15/2028

a

29,336

Uber

Technologies,

Inc.,

Convertible

30,000

Zero

Coupon, 

12/15/2025

27,987

Vail

Resorts,

Inc.,

Convertible

32,000

Zero

Coupon, 

1/1/2026

28,160

Viking

Cruises,

Ltd.

19,000

5.875%, 

9/15/2027

a

17,341

Wabash

National

Corporation

42,000

4.500%, 

10/15/2028

a

35,379

Wyndham

Hotels

&

Resorts,

Inc.

20,000

4.375%, 

8/15/2028

a

17,964

Yum!

Brands,

Inc.

48,000

4.750%, 

1/15/2030

a

43,115

ZF

North

America

Capital,

Inc.

27,000

7.125%, 

4/14/2030

a

26,454

Total

2,793,479

Consumer

Non-Cyclical

(3.7%)

1375209

B.C.,

Ltd.

34,000

9.000%, 

1/30/2028

a,b

33,608

AdaptHealth,

LLC

25,000

4.625%, 

8/1/2029

a

19,188

Albertsons

Companies,

Inc./

Safeway,

Inc./New

Albertsons,

LP/Albertsons,

LLC

70,000

4.625%, 

1/15/2027

a

66,095

39,000

3.500%, 

3/15/2029

a

33,251

B&G

Foods,

Inc.

33,000

5.250%, 

4/1/2025

32,384

23,000

5.250%, 

9/15/2027

19,262

24,000

8.000%, 

9/15/2028

a

24,033

Bausch

&

Lomb

Escrow

Corporation

9,000

8.375%, 

10/1/2028

a

9,027

Bausch

Health

Companies,

Inc.

21,000

5.500%, 

11/1/2025

a,b

18,598

32,000

4.875%, 

6/1/2028

a

18,198

43,000

11.000%, 

9/30/2028

a

29,173

BellRing

Brands,

Inc.

29,000

7.000%, 

3/15/2030

a

28,555

BioMarin

Pharmaceutical,

Inc.,

Convertible

27,000

1.250%, 

5/15/2027

b

26,746

Catalent

Pharma

Solutions,

Inc.

31,000

3.125%, 

2/15/2029

a,b

25,426

Central

Garden

&

Pet

Company

50,000

4.125%, 

10/15/2030

41,686

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

316

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Consumer

Non-Cyclical

(3.7%)

-

continued

Cheplapharm

Arzneimittel

GmbH

$

10,000

5.500%, 

1/15/2028

a

$

9,073

Chobani,

LLC/Chobani

Finance

Corporation,

Inc.

56,000

4.625%, 

11/15/2028

a

49,391

CHS/Community

Health

Systems,

Inc.

17,000

5.625%, 

3/15/2027

a

14,581

11,000

8.000%, 

12/15/2027

a

10,257

55,000

6.000%, 

1/15/2029

a

44,417

19,000

4.750%, 

2/15/2031

a

13,447

Coty,

Inc./HFC

Prestige

Products,

Inc./HFC

Prestige

International

US,

LLC

53,000

4.750%, 

1/15/2029

a

47,794

14,000

6.625%, 

7/15/2030

a

13,669

Edgewell

Personal

Care

Company

30,000

5.500%, 

6/1/2028

a

27,712

Embecta

Corporation

18,000

6.750%, 

2/15/2030

a

14,715

Encompass

Health

Corporation

95,000

4.500%, 

2/1/2028

86,556

Energizer

Holdings,

Inc.

10,000

4.750%, 

6/15/2028

a

8,637

35,000

4.375%, 

3/31/2029

a

29,209

Envista

Holdings

Corporation,

Convertible

4,000

1.750%, 

8/15/2028

3,684

Fortrea

Holdings,

Inc.

13,000

7.500%, 

7/1/2030

a

12,649

Grifols

SA

43,000

4.750%, 

10/15/2028

a,b

36,662

HLF

Financing

SARL,

LLC/

Herbalife

International,

Inc.

76,000

4.875%, 

6/1/2029

a

53,960

Integer

Holdings

Corporation,

Convertible

27,000

2.125%, 

2/15/2028

a

29,335

Jazz

Investments

I,

Ltd.,

Convertible

33,000

2.000%, 

6/15/2026

33,598

Jazz

Securities

DAC

29,000

4.375%, 

1/15/2029

a

25,285

Legacy

LifePoint

Health,

LLC

19,000

4.375%, 

2/15/2027

a

16,340

LifePoint

Health,

Inc.

18,000

11.000%, 

10/15/2030

a

18,000

ModivCare

Escrow

Issuer,

Inc.

15,000

5.000%, 

10/1/2029

a

10,762

ModivCare,

Inc.

12,000

5.875%, 

11/15/2025

a

11,407

Mozart

Debt

Merger

Sub,

Inc.

34,000

3.875%, 

4/1/2029

a

28,744

36,000

5.250%, 

10/1/2029

a,b

31,115

Organon

&

Company/Organon

Foreign

Debt

Co-Issuer

BV

45,000

4.125%, 

4/30/2028

a

39,101

25,000

5.125%, 

4/30/2031

a

20,034

Owens

&

Minor,

Inc.

41,000

6.625%, 

4/1/2030

a,b

36,391

Perrigo

Finance

Unlimited

Company

45,000

4.375%, 

3/15/2026

42,076

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Consumer

Non-Cyclical

(3.7%)

-

continued

Post

Holdings,

Inc.

$

39,000

4.500%, 

9/15/2031

a

$

32,459

Post

Holdings,

Inc.,

Convertible

17,000

2.500%, 

8/15/2027

16,855

RegionalCare

Hospital

Partners

Holdings,

Inc./LifePoint

Health,

Inc.

19,000

9.750%, 

12/1/2026

a

18,394

Scotts

Miracle-Gro

Company

17,000

4.500%, 

10/15/2029

13,898

SEG

Holding,

LLC

95,000

5.625%, 

10/15/2028

a

95,238

Simmons

Foods,

Inc.

35,000

4.625%, 

3/1/2029

a

28,711

Spectrum

Brands,

Inc.

35,000

5.000%, 

10/1/2029

a

31,714

10,000

5.500%, 

7/15/2030

a

9,067

Star

Parent,

Inc.

29,000

9.000%, 

10/1/2030

a

29,305

Teleflex,

Inc.

58,000

4.250%, 

6/1/2028

a

51,884

Tenet

Healthcare

Corporation

108,000

5.125%, 

11/1/2027

100,509

68,000

6.125%, 

10/1/2028

b

63,835

Teva

Pharmaceutical

Finance

Netherlands

III

BV

33,000

3.150%, 

10/1/2026

29,412

Topgolf

Callaway

Brands

Corporation,

Convertible

6,000

2.750%, 

5/1/2026

6,225

TreeHouse

Foods,

Inc.

41,000

4.000%, 

9/1/2028

b

33,261

Winnebago

Industries,

Inc.,

Convertible

15,000

1.500%, 

4/1/2025

16,770

Total

1,821,368

Energy

(5.5%)

Antero

Midstream

Partners,

LP/

Antero

Midstream

Finance

Corporation

11,000

5.375%, 

6/15/2029

a

10,071

Antero

Resources

Corporation

17,000

5.375%, 

3/1/2030

a

15,651

Archrock

Partners,

LP/Archrock

Partners

Finance

Corporation

57,000

6.250%, 

4/1/2028

a

53,068

Baytex

Energy

Corporation

31,000

8.500%, 

4/30/2030

a

31,367

BP

Capital

Markets

plc

180,000

4.875%, 

3/22/2030

c,d

160,816

Buckeye

Partners,

LP

40,000

3.950%, 

12/1/2026

35,920

Callon

Petroleum

Company

35,000

7.500%, 

6/15/2030

a

33,935

Chesapeake

Energy

Corporation

24,000

6.750%, 

4/15/2029

a

23,486

Chord

Energy

Corporation

24,000

6.375%, 

6/1/2026

a

23,532

Civitas

Resources,

Inc.

14,000

8.375%, 

7/1/2028

a

14,245

20,000

8.750%, 

7/1/2031

a

20,429

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

317

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Energy

(5.5%)

-

continued

CNX

Resources

Corporation

$

18,000

6.000%, 

1/15/2029

a

$

16,820

CNX

Resources

Corporation,

Convertible

23,000

2.250%, 

5/1/2026

41,584

Comstock

Resources,

Inc.

17,000

6.750%, 

3/1/2029

a

15,638

14,000

5.875%, 

1/15/2030

a

12,119

CQP

Holdco,

LP/BIP-V

Chinnok

Holdco,

LLC

34,000

5.500%, 

6/15/2031

a

30,136

Crescent

Energy

Finance,

LLC

34,000

9.250%, 

2/15/2028

a

34,712

CrownRock,

LP/CrownRock

Finance,

Inc.

29,000

5.625%, 

10/15/2025

a

28,535

Diamond

Foreign

Asset

Company/

Diamond

Finance,

LLC

12,000

8.500%, 

10/1/2030

a

12,002

DT

Midstream,

Inc.

24,000

4.125%, 

6/15/2029

a

20,761

10,000

4.375%, 

6/15/2031

a

8,409

Enbridge,

Inc.

100,000

7.375%, 

1/15/2083

c

95,097

107,000

7.625%, 

1/15/2083

c

102,170

Enerflex,

Ltd.

30,000

9.000%, 

10/15/2027

a

29,625

Energy

Transfer,

LP

115,000

6.750%, 

5/15/2025

c,d

106,278

EnLink

Midstream

Partners,

LP

48,000

4.850%, 

7/15/2026

45,190

Enterprise

Products

Operating,

LLC

37,000

8.619%, 

(TSFR3M

+

3.248%),

8/16/2077

c

36,550

EQM

Midstream

Partners,

LP

85,000

4.750%, 

1/15/2031

a

73,163

EQT

Corporation,

Convertible

13,000

1.750%, 

5/1/2026

36,083

Ferrellgas,

LP/Ferrellgas

Finance

Corporation

32,000

5.375%, 

4/1/2026

a

29,993

Genesis

Energy

LP/Genesis

Energy

Finance

Corporation

47,000

8.875%, 

4/15/2030

45,890

Harvest

Midstream,

LP

74,000

7.500%, 

9/1/2028

a

71,531

Hess

Midstream

Operations,

LP

29,000

5.625%, 

2/15/2026

a

28,021

Hilcorp

Energy

I,

LP/Hilcorp

Finance

Company

40,000

5.750%, 

2/1/2029

a

36,120

36,000

6.250%, 

4/15/2032

a

32,009

Howard

Midstream

Energy

Partners,

LLC

45,000

6.750%, 

1/15/2027

a

42,750

ITT

Holdings,

LLC

47,000

6.500%, 

8/1/2029

a

39,838

Laredo

Petroleum,

Inc.

54,000

7.750%, 

7/31/2029

a

50,238

MEG

Energy

Corporation

41,000

5.875%, 

2/1/2029

a

38,289

Murphy

Oil

Corporation

32,000

5.875%, 

12/1/2027

31,053

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Energy

(5.5%)

-

continued

Nabors

Industries,

Ltd.

$

80,000

7.250%, 

1/15/2026

a

$

77,300

New

Fortress

Energy,

Inc.

20,000

6.750%, 

9/15/2025

a

19,092

Noble

Finance

II,

LLC

33,000

8.000%, 

4/15/2030

a

33,432

Northern

Oil

and

Gas,

Inc.

31,000

8.750%, 

6/15/2031

a

31,233

Northern

Oil

and

Gas,

Inc.,

Convertible

19,000

3.625%, 

4/15/2029

a

23,471

Northriver

Midstream

Finance,

LP

16,000

5.625%, 

2/15/2026

a

15,247

NuStar

Logistics,

LP

26,000

5.750%, 

10/1/2025

25,285

PBF

Holding

Company,

LLC/PBF

Finance

Corporation

23,000

6.000%, 

2/15/2028

21,693

Permian

Resources

Operating,

LLC

25,000

7.000%, 

1/15/2032

a

24,655

Permian

Resources

Operating,

LLC,

Convertible

7,000

3.250%, 

4/1/2028

16,524

Pioneer

Natural

Resources

Company,

Convertible

7,000

0.250%, 

5/15/2025

17,146

Plains

All

American

Pipeline,

LP

60,000

9.736%, 

(TSFR3M

+

4.372%),

11/2/2023

c,d

56,619

Precision

Drilling

Corporation

42,000

6.875%, 

1/15/2029

a

39,782

Range

Resources

Corporation

25,000

4.750%, 

2/15/2030

a

22,187

Rockcliff

Energy

II,

LLC

33,000

5.500%, 

10/15/2029

a

29,699

Rockies

Express

Pipeline,

LLC

8,000

4.950%, 

7/15/2029

a

7,126

SM

Energy

Company

21,000

6.625%, 

1/15/2027

20,580

15,000

6.500%, 

7/15/2028

14,400

Southwestern

Energy

Company

25,000

5.375%, 

3/15/2030

22,776

21,000

4.750%, 

2/1/2032

18,024

Suburban

Propane

Partners,

LP/

Suburban

Energy

Finance

Corporation

10,000

5.875%, 

3/1/2027

9,550

Sunoco,

LP/Sunoco

Finance

Corporation

5,000

5.875%, 

3/15/2028

4,797

29,000

4.500%, 

4/30/2030

25,113

Tallgrass

Energy

Partners

LP/

Tallgrass

Energy

Finance

Corporation

53,000

5.500%, 

1/15/2028

a

48,230

Teine

Energy,

Ltd.

25,000

6.875%, 

4/15/2029

a

22,938

TransCanada

Trust

160,000

5.300%, 

3/15/2077

c

137,550

Transocean,

Inc.

37,000

11.500%, 

1/30/2027

a

38,804

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

318

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Energy

(5.5%)

-

continued

USA

Compression

Partners,

LP/

USA

Compression

Finance

Corporation

$

50,000

6.875%, 

4/1/2026

$

48,977

Valaris,

Ltd.

30,000

8.375%, 

4/30/2030

a

30,023

Venture

Global

Calcasieu

Pass,

LLC

78,000

3.875%, 

8/15/2029

a

65,635

20,000

4.125%, 

8/15/2031

a

16,412

Venture

Global

LNG,

Inc.

63,000

8.375%, 

6/1/2031

a

61,933

Weatherford

International,

Ltd.

44,000

8.625%, 

4/30/2030

a

44,337

Total

2,703,694

Financials

(13.4%)

Acrisure,

LLC/Acrisure

Finance,

Inc.

10,000

6.000%, 

8/1/2029

a

8,403

AerCap

Holdings

NV

60,000

5.875%, 

10/10/2079

c

58,348

Air

Lease

Corporation

94,000

4.650%, 

6/15/2026

c,d

82,780

Aircastle,

Ltd.

115,000

5.250%, 

6/15/2026

a,c,d

90,430

Alliant

Holdings

Intermediate,

LLC/

Alliant

Holdings

Co-Issuer,

Inc.

22,000

6.750%, 

10/15/2027

a

20,460

Ally

Financial,

Inc.

203,000

4.700%, 

5/15/2026

c,d

139,307

8,000

6.700%, 

2/14/2033

6,945

American

Express

Company

85,000

3.550%, 

9/15/2026

c,d

67,489

AmWINS

Group,

Inc.

31,000

4.875%, 

6/30/2029

a

27,163

Arbor

Realty

Trust,

Inc.,

Convertible

10,000

7.500%, 

8/1/2025

a

10,056

Ares

Capital

Corporation,

Convertible

14,000

4.625%, 

3/1/2024

14,201

BAC

Capital

Trust

XIV

74,000

6.071%, 

(TSFR3M

+

0.662%),

10/18/2023

c,d

57,202

Bank

of

America

Corporation

249,000

6.250%, 

9/5/2024

c,d

244,974

82,000

6.100%, 

3/17/2025

c,d

80,297

40,000

6.300%, 

3/10/2026

c,d

39,244

120,000

6.125%, 

4/27/2027

c,d

114,975

Bank

of

Nova

Scotia

97,000

4.900%, 

6/4/2025

c,d

88,718

Blackstone

Mortgage

Trust,

Inc.,

Convertible

5,000

5.500%, 

3/15/2027

4,447

Bread

Financial

Holdings,

Inc.,

Convertible

3,000

4.250%, 

6/15/2028

a

3,234

Brookfield

Property

REIT,

Inc./BPR

Cumulus,

LLC/BPR

Nimbus,

LLC/GGSI

Sellco,

LLC

10,000

4.500%, 

4/1/2027

a

8,334

Capital

One

Financial

Corporation

36,000

3.950%, 

9/1/2026

c,d

27,021

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Financials

(13.4%)

-

continued

Castlelake

Aviation

Finance

DAC

$

15,000

5.000%, 

4/15/2027

a

$

13,700

Charles

Schwab

Corporation

176,000

5.375%, 

6/1/2025

c,d

169,088

78,000

4.000%, 

6/1/2026

c,d

65,146

35,000

5.000%, 

6/1/2027

c,d

29,250

125,000

4.000%, 

12/1/2030

c,d

88,196

Citigroup,

Inc.

82,000

9.699%, 

(TSFR3M

+

4.330%),

10/30/2023

c,d

81,843

28,000

5.000%, 

9/12/2024

c,d

26,479

95,000

4.000%, 

12/10/2025

c,d

83,101

170,000

3.875%, 

2/18/2026

c,d

145,068

62,000

4.150%, 

11/15/2026

c,d

49,624

51,000

7.375%, 

5/15/2028

b,c,d

49,487

90,000

7.625%, 

11/15/2028

c,d

87,804

Citizens

Financial

Group,

Inc.

80,000

4.000%, 

10/6/2026

c,d

59,291

Coinbase

Global,

Inc.,

Convertible

41,000

0.500%, 

6/1/2026

30,775

Comerica,

Inc.

20,000

5.625%, 

7/1/2025

b,c,d

18,326

Corebridge

Financial,

Inc.

81,000

6.875%, 

12/15/2052

c

77,597

Corporate

Office

Properties,

LP,

Convertible

3,000

5.250%, 

9/15/2028

a

3,005

Credit

Acceptance

Corporation

52,000

5.125%, 

12/31/2024

a

50,647

Credit

Agricole

SA

40,000

8.125%, 

12/23/2025

a,c,d

39,710

Credit

Suisse

Group

AG

56,000

7.500%, 

12/11/2023

*,c,d,e

5,320

40,000

7.250%, 

9/12/2025

a,c,d,e

3,800

Dai-ichi

Life

Insurance

Company,

Ltd.

120,000

5.100%, 

10/28/2024

a,b,c,d

117,652

Drawbridge

Special

Opportunities

Fund,

LP

56,000

3.875%, 

2/15/2026

a

49,824

Enact

Holdings,

Inc.

28,000

6.500%, 

8/15/2025

a

27,578

Encore

Capital

Group,

Inc.,

Convertible

12,000

4.000%, 

3/15/2029

a

11,495

Fifth

Third

Bancorp

91,000

4.500%, 

9/30/2025

c,d

81,498

Fortress

Transportation

and

Infrastructure

Investors,

LLC

43,000

6.500%, 

10/1/2025

a

42,262

31,000

9.750%, 

8/1/2027

a

32,065

Freedom

Mortgage

Corporation

12,000

12.000%, 

10/1/2028

a

12,202

Global

Net

Lease,

Inc./Global

Net

Lease

Operating

Partnership,

LP

54,000

3.750%, 

12/15/2027

a

41,809

Goldman

Sachs

Group,

Inc.

70,000

5.500%, 

8/10/2024

c,d

68,231

70,000

3.650%, 

8/10/2026

c,d

56,426

105,000

4.125%, 

11/10/2026

c,d

85,882

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

319

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Financials

(13.4%)

-

continued

Hartford

Financial

Services

Group,

Inc.

$

100,000

7.751%, 

(TSFR3M

+

2.387%),

2/12/2047

a,c

$

85,011

HAT

Holdings

I,

LLC/HAT

Holdings

II,

LLC,

Convertible

1,000

Zero

Coupon, 

5/1/2025

a

965

10,000

3.750%, 

8/15/2028

a

9,719

HSBC

Holdings

plc

55,000

6.375%, 

3/30/2025

c,d

52,833

25,000

4.600%, 

12/17/2030

c,d

18,892

HUB

International,

Ltd.

46,000

5.625%, 

12/1/2029

a

40,055

Huntington

Bancshares,

Inc.

104,000

4.450%, 

10/15/2027

c,d

84,123

Icahn

Enterprises,

LP/Icahn

Enterprises

Finance

Corporation

29,000

6.375%, 

12/15/2025

27,587

32,000

5.250%, 

5/15/2027

28,127

J.P.

Morgan

Chase

&

Company

20,000

8.934%, 

(TSFR3M

+

3.562%),

11/1/2023

c,d

20,068

178,000

5.000%, 

8/1/2024

c,d

172,049

100,000

4.600%, 

2/1/2025

c,d

93,549

85,000

3.650%, 

6/1/2026

c,d

74,191

Jefferies

Finance,

LLC/JFIN

Co-

Issuer

Corporation

15,000

5.000%, 

8/15/2028

a

12,630

Lincoln

National

Corporation

100,000

7.996%, 

(LIBOR

3M

+

2.358%),

11/17/2023

c

69,569

LPL

Holdings,

Inc.

30,000

4.000%, 

3/15/2029

a

26,156

M&T

Bank

Corporation

203,000

3.500%, 

9/1/2026

c,d

142,758

MetLife,

Inc.

140,000

3.850%, 

9/15/2025

c,d

129,512

72,000

5.875%, 

3/15/2028

c,d

67,627

107,000

6.400%, 

12/15/2036

104,552

Molina

Healthcare,

Inc.

39,000

4.375%, 

6/15/2028

a

34,946

MPT

Operating

Partnership,

LP/

MPT

Finance

Corporation

31,000

4.625%, 

8/1/2029

21,956

Nationstar

Mortgage

Holdings,

Inc.

37,000

6.000%, 

1/15/2027

a

34,962

Necessity

Retail

REIT,

Inc./

American

Finance

Operating

Partner,

LP

46,000

4.500%, 

9/30/2028

a

34,941

NFP

Corporation

18,000

6.875%, 

8/15/2028

a

15,420

Nippon

Life

Insurance

Company

172,000

5.100%, 

10/16/2044

a,c

168,776

OneMain

Finance

Corporation

70,000

6.875%, 

3/15/2025

69,445

50,000

3.875%, 

9/15/2028

40,132

Park

Intermediate

Holdings,

LLC

20,000

4.875%, 

5/15/2029

a

16,919

Pebblebrook

Hotel

Trust,

Convertible

44,000

1.750%, 

12/15/2026

36,494

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Financials

(13.4%)

-

continued

PNC

Financial

Services

Group,

Inc.

$

95,000

3.400%, 

9/15/2026

c,d

$

70,279

108,000

6.200%, 

9/15/2027

c,d

99,253

103,000

6.250%, 

3/15/2030

c,d

88,293

PRA

Group,

Inc.

28,000

7.375%, 

9/1/2025

a

27,265

23,000

8.375%, 

2/1/2028

a

20,930

Provident

Financing

Trust

I

25,000

7.405%, 

3/15/2038

24,657

Prudential

Financial,

Inc.

77,000

6.750%, 

3/1/2053

c

74,451

126,000

5.200%, 

3/15/2044

c

123,276

20,000

3.700%, 

10/1/2050

c

16,266

QBE

Insurance

Group,

Ltd.

40,000

5.875%, 

5/12/2025

a,c,d

38,022

Radian

Group,

Inc.

37,000

4.875%, 

3/15/2027

34,572

Redwood

Trust,

Inc.,

Convertible

2,000

7.750%, 

6/15/2027

1,789

Regions

Financial

Corporation

80,000

5.750%, 

6/15/2025

c,d

75,903

RLJ

Lodging

Trust,

LP

19,000

3.750%, 

7/1/2026

a

17,183

33,000

4.000%, 

9/15/2029

a

27,025

Rocket

Mortgage,

LLC/Rocket

Mortgage

Co-Issuer,

Inc.

30,000

3.625%, 

3/1/2029

a

24,802

Service

Properties

Trust

25,000

4.650%, 

3/15/2024

24,659

12,000

4.350%, 

10/1/2024

11,512

25,000

7.500%, 

9/15/2025

24,561

20,000

5.500%, 

12/15/2027

17,093

SLM

Corporation

20,000

4.200%, 

10/29/2025

18,714

Standard

Chartered

plc

35,000

6.000%, 

7/26/2025

a,c,d

33,239

Starwood

Property

Trust,

Inc.,

Convertible

17,000

6.750%, 

7/15/2027

17,417

Sumitomo

Life

Insurance

Company

150,000

3.375%, 

4/15/2081

a,c

124,663

Summit

Hotel

Properties,

Inc.,

Convertible

15,000

1.500%, 

2/15/2026

12,600

Synchrony

Financial

8,000

7.250%, 

2/2/2033

7,061

Toronto-Dominion

Bank

55,000

8.125%, 

10/31/2082

c

54,717

Truist

Financial

Corporation

150,000

5.100%, 

3/1/2030

c,d

128,244

UBS

Group

AG

100,000

4.875%, 

2/12/2027

a,c,d

83,721

United

Wholesale

Mortgage,

LLC

11,000

5.500%, 

11/15/2025

a

10,463

31,000

5.500%, 

4/15/2029

a

26,195

USB

Realty

Corporation

78,000

6.717%, 

(TSFR3M

+

1.409%),

1/15/2027

a,c,d

56,738

USI,

Inc./NY

15,000

6.875%, 

5/1/2025

a

14,884

Ventas

Realty,

LP,

Convertible

24,000

3.750%, 

6/1/2026

a

23,388

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

320

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Financials

(13.4%)

-

continued

Wells

Fargo

&

Company

$

162,000

3.900%, 

3/15/2026

c,d

$

141,482

30,000

6.070%, 

(TSFR3M

+

0.762%),

1/15/2027

c

28,436

91,000

7.625%, 

9/15/2028

c,d

91,743

Welltower

OP,

LLC,

Convertible

36,000

2.750%, 

5/15/2028

a

36,739

XHR,

LP

19,000

6.375%, 

8/15/2025

a,b

18,654

32,000

4.875%, 

6/1/2029

a

27,200

Total

6,530,262

Mortgage-Backed

Securities

(11.7%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

745,020

5.500%, 

7/1/2053

722,861

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

3,079,950

5.000%, 

3/1/2053

2,907,307

849,078

4.500%, 

9/1/2053

780,495

1,425,000

4.500%, 

10/1/2048

f

1,308,328

Total

5,718,991

Technology

(2.6%)

Akamai

Technologies,

Inc.,

Convertible

24,000

0.125%, 

5/1/2025

28,306

12,000

0.375%, 

9/1/2027

12,498

16,000

1.125%, 

2/15/2029

a

16,136

AthenaHealth

Group,

Inc.

50,000

6.500%, 

2/15/2030

a

41,825

Block,

Inc.,

Convertible

5,000

0.125%, 

3/1/2025

4,640

24,000

0.250%, 

11/1/2027

18,015

Cloud

Software

Group,

Inc.

40,000

6.500%, 

3/31/2029

a

35,373

13,000

9.000%, 

9/30/2029

a

11,297

CommScope

Technologies,

LLC

16,000

6.000%, 

6/15/2025

a

15,231

CommScope,

Inc.

70,000

7.125%, 

7/1/2028

a

41,882

CSG

Systems

International,

Inc.,

Convertible

8,000

3.875%, 

9/15/2028

a

7,785

Euronet

Worldwide,

Inc.,

Convertible

11,000

0.750%, 

3/15/2049

10,106

Gartner,

Inc.

30,000

3.625%, 

6/15/2029

a

25,664

60,000

3.750%, 

10/1/2030

a

50,352

II-VI,

Inc.

15,000

5.000%, 

12/15/2029

a,b

13,006

InterDigital,

Inc.,

Convertible

32,000

3.500%, 

6/1/2027

37,661

Iron

Mountain,

Inc.

30,000

4.875%, 

9/15/2027

a

27,671

15,000

5.000%, 

7/15/2028

a

13,643

37,000

4.875%, 

9/15/2029

a

32,428

30,000

5.250%, 

7/15/2030

a

26,209

48,000

4.500%, 

2/15/2031

a

39,478

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Technology

(2.6%)

-

continued

Lumentum

Holdings,

Inc.,

Convertible

$

25,000

0.250%, 

3/15/2024

$

24,750

36,000

0.500%, 

6/15/2028

b

26,147

Microchip

Technology,

Inc.,

Convertible

37,000

0.125%, 

11/15/2024

38,850

NCR

Corporation

44,000

6.125%, 

9/1/2029

a

45,123

ON

Semiconductor

Corporation,

Convertible

32,000

Zero

Coupon, 

5/1/2027

57,600

1,000

0.500%, 

3/1/2029

a

1,098

Open

Text

Corporation

85,000

4.125%, 

2/15/2030

a

71,111

Progress

Software

Corporation,

Convertible

11,000

1.000%, 

4/15/2026

11,319

PTC,

Inc.

10,000

3.625%, 

2/15/2025

a

9,610

35,000

4.000%, 

2/15/2028

a

31,369

Rackspace

Technology

Global,

Inc.

65,000

5.375%, 

12/1/2028

a

21,797

RingCentral,

Inc.

29,000

8.500%, 

8/15/2030

a

28,014

Seagate

HDD

Cayman

18,000

8.500%, 

7/15/2031

a,b

18,464

51,675

9.625%, 

12/1/2032

a

55,682

Semtech

Corporation,

Convertible

12,000

1.625%, 

11/1/2027

a

11,214

Sensata

Technologies,

Inc.

43,000

3.750%, 

2/15/2031

a

34,801

Shift4

Payments,

LLC/Shift4

Payments

Finance

Sub,

Inc.

10,000

4.625%, 

11/1/2026

a

9,429

SS&C

Technologies,

Inc.

124,000

5.500%, 

9/30/2027

a

117,011

Verint

Systems,

Inc.,

Convertible

18,000

0.250%, 

4/15/2026

15,368

Viavi

Solutions,

Inc.

32,000

3.750%, 

10/1/2029

a

26,013

Viavi

Solutions,

Inc.,

Convertible

13,000

1.625%, 

3/15/2026

a

12,409

Vishay

Intertechnology,

Inc.,

Convertible

56,000

2.250%, 

9/15/2030

a

54,852

Ziff

Davis,

Inc.,

Convertible

29,000

1.750%, 

11/1/2026

26,666

Total

1,257,903

Transportation

(1.2%)

Air

Transport

Services

Group,

Inc.,

Convertible

25,000

3.875%, 

8/15/2029

a

24,537

Allegiant

Travel

Company

34,000

7.250%, 

8/15/2027

a

32,002

American

Airlines

Group,

Inc.

12,000

3.750%, 

3/1/2025

a

11,368

American

Airlines,

Inc.

53,000

11.750%, 

7/15/2025

a

56,975

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

321

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Transportation

(1.2%)

-

continued

American

Airlines,

Inc./

AAdvantage

Loyalty

IP,

Ltd.

$

117,333

5.500%, 

4/20/2026

a

$

114,595

Avis

Budget

Car

Rental,

LLC/Avis

Budget

Finance,

Inc.

19,000

5.375%, 

3/1/2029

a

16,887

Hawaiian

Brand

Intellectual

Property,

Ltd.

42,000

5.750%, 

1/20/2026

a

37,794

Hertz

Corporation

28,000

4.625%, 

12/1/2026

a

24,815

33,000

5.000%, 

12/1/2029

a

25,836

JetBlue

Airways

Corporation,

Convertible

24,000

0.500%, 

4/1/2026

18,554

Rand

Parent,

LLC

37,000

8.500%, 

2/15/2030

a

34,229

Southwest

Airlines

Company,

Convertible

40,000

1.250%, 

5/1/2025

39,700

United

Airlines,

Inc.

44,000

4.375%, 

4/15/2026

a

40,691

35,000

4.625%, 

4/15/2029

a

30,084

VistaJet

Malta

Finance

plc/Vista

Management

Holding,

Inc.

9,000

7.875%, 

5/1/2027

a

7,751

45,000

6.375%, 

2/1/2030

a

34,756

XPO

Escrow

Sub,

LLC

45,000

7.500%, 

11/15/2027

a

45,497

Total

596,071

U.S.

Government

&

Agencies

(16.2%)

U.S.

Treasury

Bonds

1,100,000

3.875%, 

2/15/2043

957,344

U.S.

Treasury

Notes

900,000

4.750%, 

7/31/2025

894,024

3,780,000

1.250%, 

12/31/2026

3,386,053

2,740,000

1.375%, 

11/15/2031

2,147,689

550,000

4.125%, 

11/15/2032

530,449

Total

7,915,559

Utilities

(2.7%)

Algonquin

Power

&

Utilities

Corporation

65,000

4.750%, 

1/18/2082

c

52,975

Alliant

Energy

Corporation,

Convertible

17,000

3.875%, 

3/15/2026

a

16,422

American

Water

Capital

Corporation,

Convertible

21,000

3.625%, 

6/15/2026

a

20,240

Calpine

Corporation

34,000

4.500%, 

2/15/2028

a

30,642

CenterPoint

Energy,

Inc.,

Convertible

9,000

4.250%, 

8/15/2026

a

8,779

CMS

Energy

Corporation,

Convertible

21,000

3.375%, 

5/1/2028

a,b

19,687

Dominion

Energy,

Inc.

120,000

4.350%, 

1/15/2027

c,d

103,609

Duke

Energy

Corporation

102,000

3.250%, 

1/15/2082

c

75,148

51,000

4.875%, 

9/16/2024

c,d

49,638

Principal

Amount

Long-Term

Fixed

Income

(72.9%)

Value

Utilities

(2.7%)

-

continued

Duke

Energy

Corporation,

Convertible

$

50,000

4.125%, 

4/15/2026

a

$

48,525

Edison

International

170,000

5.000%, 

12/15/2026

c,d

145,295

FirstEnergy

Corporation,

Convertible

29,000

4.000%, 

5/1/2026

a

27,913

NextEra

Energy

Capital

Holdings,

Inc.

55,000

3.800%, 

3/15/2082

c

46,558

NextEra

Energy

Operating

Partners,

LP

95,000

3.875%, 

10/15/2026

a

86,014

NextEra

Energy

Partners,

LP,

Convertible

8,000

Zero

Coupon, 

6/15/2024

a

7,588

32,000

Zero

Coupon, 

11/15/2025

a

26,720

NRG

Energy,

Inc.

86,000

10.250%, 

3/15/2028

a,c,d

84,229

13,000

3.375%, 

2/15/2029

a

10,522

15,000

5.250%, 

6/15/2029

a

13,241

NRG

Energy,

Inc.,

Convertible

35,000

2.750%, 

6/1/2048

37,030

PG&E

Corporation

40,000

5.000%, 

7/1/2028

b

36,231

PPL

Capital

Funding,

Inc.,

Convertible

26,000

2.875%, 

3/15/2028

a

23,660

Sempra

95,000

4.125%, 

4/1/2052

c

76,844

40,000

4.875%, 

10/15/2025

c,d

37,899

Southern

Company

64,000

3.750%, 

9/15/2051

c

55,821

Southern

Company,

Convertible

50,000

3.875%, 

12/15/2025

a

48,600

TerraForm

Power

Operating,

LLC

95,000

5.000%, 

1/31/2028

a

86,213

Vistra

Operations

Company,

LLC

75,000

5.000%, 

7/31/2027

a

68,954

Total

1,344,997

Total

Long-Term

Fixed

Income

(cost

$39,375,580)

35,635,788

Shares

Registered

Investment

Companies

(

16.3%

)

Value

U.S.

Affiliated  (7.2%)

474,750

Thrivent

Core

Emerging

Markets

Debt

Fund

3,517,895

Total

3,517,895

U.S.

Unaffiliated  (9.1%)

60,900

Aberdeen

Asia-Pacific

Income

Fund,

Inc.

149,205

19,056

AllianceBernstein

Global

High

Income

Fund,

Inc.

184,843

27,973

Allspring

Income

Opportunities

Fund

170,635

3,037

Barings

Global

Short

Duration

High

Yield

Fund

38,570

5,447

BlackRock

Core

Bond

Trust

54,143

21,024

BlackRock

Corporate

High

Yield

Fund,

Inc.

181,437

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

322

Shares

Registered

Investment

Companies

(16.3%)

Value

U.S.

Unaffiliated  (9.1%)-

continued

18,011

BlackRock

Credit

Allocation

Income

Trust

$

174,347

3,050

BlackRock

Debt

Strategies

Fund,

Inc.

31,324

18,401

BlackRock

Enhanced

Global

Dividend

Trust

173,521

5,100

BlackRock

Enhanced

International

Dividend

Trust

25,449

500

BlackRock

Floating

Rate

Income

Strategies

Fund,

Inc.

6,310

2,633

BlackRock

Income

Trust,

Inc.

29,964

8,668

BlackRock

Multi-Sector

Income

Trust

125,426

13,890

Blackstone

Strategic

Credit

2027

Term

Fund

152,651

18,689

BNY

Mellon

High

Yield

Strategies

Fund

39,994

19,860

Eaton

Vance

Limited

Duration

Income

Fund

179,534

1,299

Eaton

Vance

Tax-Managed

Global

Diversified

Equity

Income

Fund

9,574

17,086

First

Trust

High

Income

Long/Short

Fund

183,162

2,366

First

Trust

Senior

Floating

Rate

Income

Fund

II

23,660

5,549

Invesco

Dynamic

Credit

Opportunities

Fund

g,h

58,412

6,980

iShares

Preferred

and

Income

Securities

ETF

b

210,447

9,923

New

America

High

Income

Fund,

Inc.

64,301

38,912

Nuveen

Credit

Strategies

Income

Fund

196,895

9,868

Nuveen

Floating

Rate

Income

Fund/Closed-End

Fund

81,016

6,907

Nuveen

Global

High

Income

Fund

79,016

7,700

Nuveen

Preferred

Income

Opportunities

Fund

48,741

4,050

Nuveen

Quality

Preferred

Income

Fund

II

24,989

16,331

PGIM

Global

High

Yield

Fund,

Inc.

176,048

15,655

PGIM

High

Yield

Bond

Fund,

Inc.

184,416

3,562

Pimco

Dynamic

Income

Fund

61,551

2,053

SPDR

Bloomberg

High

Yield

Bond

ETF

b

185,591

1,923

Tri-Continental

Corporation

51,133

8,600

Vanguard

Short-Term

Corporate

Bond

ETF

646,290

4,700

Virtus

Convertible

&

Income

Fund

14,617

11,047

Virtus

Dividend,

Interest

&

Premium

Strategy

Fund

125,163

1,425

Virtus

Equity

&

Convertible

Income

Fund

28,343

2,733

Voya

Asia

Pacific

High

Dividend

Equity

Income

Fund

15,824

23,718

Voya

Global

Equity

Dividend

&

Premium

Opportunity

Fund

116,218

44,379

Western

Asset

High

Income

Opportunity

Fund,

Inc.

161,540

Total

4,464,300

Total

Registered

Investment

Companies

(cost

$9,894,957)

7,982,195

Shares

Preferred

Stock

(

5.3%

)

Value

Communications

Services

(0.6%)

10,950

AT&T,

Inc.,

4.750%

d

$

210,021

178

Paramount

Global,

Convertible,

5.750%

3,159

5,000

Telephone

and

Data

Systems,

Inc.,

6.000%

d

68,250

Total

281,430

Energy

(0.2%)

4,785

Crestwood

Equity

Partners,

LP,

9.250%

d

46,462

525

Energy

Transfer,

LP,

7.600%

c,d

12,826

1,415

Nustar

Logistics,

LP,

12.304%

c

36,380

56

UGI

Corporation,

Convertible,

7.250%

3,200

Total

98,868

Financials

(3.9%)

3,750

Aegon

Funding

Corporation

II,

5.100%

74,475

3,000

Allstate

Corporation,

5.100%

d

58,620

4,200

American

International

Group,

Inc.

5.850%

d

97,776

759

Apollo

Global

Management,

Inc.,

Convertible,

6.750%

h

41,821

11,650

Bank

of

America

Corporation,

4.250%

d

198,632

39

Bank

of

America

Corporation,

Convertible,

7.250%

d

43,376

4,250

Capital

One

Financial

Corporation,

5.000%

d

79,560

3,100

Equitable

Holdings,

Inc.,

5.250%

d

61,070

65

First

Horizon

Bank,

6.393%

*,c,d

43,138

2,000

First

Horizon

Corporation,

6.500%

d

41,800

5,700

J.P.

Morgan

Chase

&

Company,

4.200%

d

103,170

5,450

J.P.

Morgan

Chase

&

Company,

4.750%

d

111,670

6,200

KeyCorp,

6.200%

c,d

122,388

5,475

Morgan

Stanley,

4.250%

d

93,349

3,300

Morgan

Stanley,

5.850%

c,d

76,659

3,200

Morgan

Stanley,

7.125%

c,d

82,112

4,500

Public

Storage

Operating

Company,

3.950%

d

75,105

4,775

Public

Storage

Operating

Company,

4.125%

d

85,807

800

Public

Storage

Operating

Company,

4.625%

d

15,760

200

Public

Storage

Operating

Company,

4.700%

d

3,914

1,450

Regions

Financial

Corporation,

5.700%

c,d

28,420

250

Synovus

Financial

Corporation,

5.875%

c,d

5,383

5,500

U.S.

Bancorp,

4.000%

d

88,055

6,750

Wells

Fargo

&

Company,

4.250%

d

112,658

5,000

Wells

Fargo

&

Company,

4.750%

d

92,900

65

Wells

Fargo

&

Company,

Convertible,

7.500%

d

72,475

Total

1,910,093

Utilities

(0.6%)

488

AES

Corporation,

Convertible,

6.875%

29,768

6,775

CMS

Energy

Corporation,

4.200%

d

134,280

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

323

Shares

Preferred

Stock

(5.3%)

Value

Utilities

(0.6%)

-

continued

805

NextEra

Energy,

Inc.,

Convertible,

6.926%

b

$

30,453

111

NiSource,

Inc.,

Convertible,

7.750%

10,817

3,450

Southern

Company,

4.950%

72,623

Total

277,941

Total

Preferred

Stock

(cost

$3,275,243)

2,568,332

Shares

Collateral

Held

for

Securities

Loaned

(

2.8%

)

Value

1,345,992

Thrivent

Cash

Management

Trust

1,345,992

Total

Collateral

Held

for

Securities

Loaned

(cost

$1,345,992)

1,345,992

Shares

Common

Stock

(

0.4%

)

Value

Communications

Services

(<0.1%)

31

Windstream

Services,

LLC

h

295

Total

295

Consumer

Discretionary

(0.1%)

281

Bloomin'

Brands,

Inc.

6,910

7

Booking

Holdings,

Inc.

h

21,587

Total

28,497

Energy

(0.1%)

62

EQT

Corporation

2,516

649

Permian

Resources

Corporation

9,060

156

Pioneer

Natural

Resources

Company

35,810

Total

47,386

Financials

(0.2%)

1,044

AGNC

Investment

Corporation

9,855

589

Annaly

Capital

Management,

Inc.

11,079

1,200

Apollo

Commercial

Real

Estate

Finance,

Inc.

12,156

30

Bank

of

America

Corporation

821

650

BlackRock

TCP

Capital

Corporation

7,631

97

Blackstone

Mortgage

Trust,

Inc.

2,110

1,700

Chimera

Investment

Corporation

9,282

108

Encore

Capital

Group,

Inc.

h

5,158

317

FS

KKR

Capital

Corporation

6,242

494

Golub

Capital

BDC,

Inc.

7,247

327

New

York

Community

Bancorp,

Inc.

3,708

1,944

Rithm

Capital

Corporation

18,060

25

Wells

Fargo

&

Company

1,022

Total

94,371

Industrials

(<0.1%)

26

Chart

Industries,

Inc.

h

4,397

162

Uber

Technologies,

Inc.

h

7,450

Total

11,847

Information

Technology

(<0.1%)

68

Western

Digital

Corporation

h

3,103

Total

3,103

Shares

Common

Stock

(0.4%)

Value

Materials

(<0.1%)

78

Allegheny

Technologies,

Inc.

h

$

3,210

Total

3,210

Real

Estate

(<0.1%)

78

Kite

Realty

Group

Trust

1,671

Total

1,671

Utilities

(<0.1%)

271

NiSource,

Inc.

6,688

Total

6,688

Total

Common

Stock

(cost

$179,926)

197,068

Shares

or

Principal

Amount

Short-Term

Investments

(

7.2%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

343,824

5.650%

3,438,242

U.S.

Treasury

Bills

100,000

5.254%,

10/19/2023

i,j

99,750

Total

Short-Term

Investments

(cost

$3,537,911)

3,537,992

Total

Investments

(cost

$57,609,609)

104.9%

$51,267,367

Other

Assets

and

Liabilities,

Net

(4.9%)

(2,384,402)

Total

Net

Assets

100.0%

$48,882,965

a

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$12,160,163

or

24.9%

of

total

net

assets.

b

All

or

a

portion

of

the

security

is

on

loan.

c

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

September

29,

2023.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

d

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

e

Defaulted

security.  Interest

is

not

being

accrued.

f

Denotes

investments

purchased

on

a

when-issued

or

delayed-delivery

basis.

g

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

h

Non-income

producing

security.

i

The

interest

rate

shown

reflects

the

yield.

j

All

or

a

portion

of

the

security

is

pledged

as

collateral

under

the

agreement

between

the

counterparty,

the

custodian

and

the

fund

for

open

swap

contracts.

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

324

*

Denotes

restricted

securities.

Restricted

securities

are

investment

securities

which

cannot

be

offered

for

public

sale

without

first

being

registered

under

the

Securities

Act

of

1933.

The

value

of

all

restricted

securities

held

in

Multidimensional

Income

Portfolio

as

of

September

29,

2023

was

$48,458

or

0.10%

of

total

net

assets.

The

following

table

indicates

the

acquisition

date

and

cost

of

restricted

securities

shown

in

the

schedule

as

of

September

29,

2023.

Security

Acquisition

Date

Cost

Credit

Suisse

Group

AG,

12/29/2049

5/9/2018

$

60,178

First

Horizon

Bank,

6.393%,

3/5/2019

6/21/2017

49,855

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Multidimensional

Income

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

972,511

Common

Stock

327,886

Total

lending

$1,300,397

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$1,345,992

Net

amounts

due

to

counterparty

$45,595

Definitions:

ETF

-

Exchange

Traded

Fund

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Reference

Rate

Index:

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

TSFR3M

-

CME

Term

SOFR

3

Month

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

325

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Multidimensional

Income

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Long-Term

Fixed

Income

Basic

Materials

887,736

–

887,736

–

Capital

Goods

1,936,420

–

1,936,420

–

Collateralized

Mortgage

Obligations

44,039

–

44,039

–

Communications

Services

2,085,269

–

2,085,269

–

Consumer

Cyclical

2,793,479

–

2,793,479

–

Consumer

Non-Cyclical

1,821,368

–

1,821,368

–

Energy

2,703,694

–

2,703,694

–

Financials

6,530,262

–

6,530,262

–

Mortgage-Backed

Securities

5,718,991

–

5,718,991

–

Technology

1,257,903

–

1,257,903

–

Transportation

596,071

–

596,071

–

U.S.

Government

&

Agencies

7,915,559

–

7,915,559

–

Utilities

1,344,997

–

1,344,997

–

Registered

Investment

Companies

U.S.

Unaffiliated

4,464,300

4,405,888

–

58,412

Preferred

Stock

Communications

Services

281,430

281,430

–

–

Energy

98,868

98,868

–

–

Financials

1,910,093

1,866,955

43,138

–

Utilities

277,941

277,941

–

–

Common

Stock

Communications

Services

295

–

295

–

Consumer

Discretionary

28,497

28,497

–

–

Energy

47,386

47,386

–

–

Financials

94,371

94,371

–

–

Industrials

11,847

11,847

–

–

Information

Technology

3,103

3,103

–

–

Materials

3,210

3,210

–

–

Real

Estate

1,671

1,671

–

–

Utilities

6,688

6,688

–

–

Short-Term

Investments

99,750

–

99,750

–

Subtotal

Investments

in

Securities

$42,965,238

$7,127,855

$35,778,971

$58,412

Other

Investments  *

Total

U.S.

Affiliated

Registered

Investment

Cos.

3,517,895

Affiliated

Short-Term

Investments

3,438,242

Collateral

Held

for

Securities

Loaned

1,345,992

Subtotal

Other

Investments

$8,302,129

Total

Investments

at

Value

$51,267,367

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Multidimensional

Income

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Credit

Default

Swaps

745

–

745

–

Total

Asset

Derivatives

$745

$–

$745

$–

Multidimensional

Income

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

326

The

following

table

presents

Multidimensional

Income

Portfolio's

swaps

contracts

held

as

of

September

29,

2023.

Investments

totaling

$99,750

were

pledged

as

collateral

under

the

agreement

between

the

counterparty,

the

custodian

and

the

fund

for

open

swap

contracts.

Credit

Default

Swaps

Buy/Sell

Protection

1

Termination

Date

Notional

Principal

Amount

2

Upfront

Payments/

(Receipts)

Value

3

Unrealized

Gain/(Loss)

CDX

HY

41,

5

Year,

at

5.00%,

Quarterly

Buy

12/20/2028

$

1,150,000

$

–

$

745

$

745

Total

Credit

Default

Swaps

$–

$745

$745

1

As

the

buyer

of

protection,

Multidimensional

Income

Portfolio

pays

periodic

fees

in

return

for

payment

by

the

seller

which

is

contingent

upon

an

adverse

credit

event

occurring

in

the

underlying

issuer

or

reference

entity.

As

the

seller

of

protection,

Multidimensional

Income

Portfolio

collects

periodic

fees

from

the

buyer

and

profits

if

the

credit

of

the

underlying

issuer

or

reference

entity

remains

stable

or

improves

while

the

swap

is

outstanding,

but

the

seller

in

a

credit

default

swap

contract

would

be

required

to

pay

the

amount

of

credit

loss,

determined

as

specified

in

the

agreement,

to

the

buyer

in

the

event

of

an

adverse

credit

event

in

the

reference

entity.

2

The

maximum

potential

amount

of

future

payments

Multidimensional

Income

Portfolio

could

be

required

to

make

as

the

seller

or

receive

as

the

buyer

of

protection.

3

The

values

for

credit

indexes

(CDX

or

LCDX)

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

liability

or

profit

for

the

credit

default

swap

contract

had

the

contract

been

closed

as

of

the

reporting

date.

When

protection

has

been

sold,

the

value

of

the

swap

will

increase

when

the

swap

spread

declines

representing

an

improvement

in

the

reference

entity's

credit

worthiness.

The

value

of

the

swap

will

decrease

when

the

swap

spread

increases

representing

a

deterioration

in

the

reference

entity's

credit

worthiness.

When

protection

has

been

purchased,

the

value

of

the

swap

will

increase

when

the

swap

spread

increases

representing

a

deterioration

in

the

reference

entity's

credit

worthiness.

The

value

of

the

swap

will

decrease

when

the

swap

spread

declines

representing

an

improvement

in

the

reference

entity's

credit

worthiness.

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Multidimensional

Income

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$4,243

$225

$870

$3,518

475

7.2%

Total

U.S.

Affiliated

Registered

Investment

Companies

4,243

3,518

7.2

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

3,878

24,561

25,001

3,438

344

7.0

Total

Affiliated

Short-Term

Investments

3,878

3,438

7.0

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

1,944

20,837

21,435

1,346

1,346

2.8

Total

Collateral

Held

for

Securities

Loaned

1,944

1,346

2.8

Total

Value

$10,065

$8,302

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

($262)

$182

$

–

$175

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

–

–

–

185

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$360

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

18

Total

Affiliated

Income

from

Securities

Loaned,

Net

$18

Total

Value

($262)

$182

$

–

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

327

Principal

Amount

Bank

Loans

(

8

.4

%

)

a

Value

Basic

Materials

(0.2%)

Grinding

Media,

Inc.,

Term

Loan

$

53,068

9.530%, 

(TSFR1M

+

4.000%),

10/12/2028

b,c

$

52,537

INEOS

US

Petrochem,

LLC,

Term

Loan

132,643

8.181%, 

(TSFR1M

+

2.750%),

1/29/2026

b

131,913

Lummus

Technology

Holdings

V,

LLC,

Term

Loan

48,491

8.931%, 

(TSFR1M

+

3.500%),

6/30/2027

b

48,326

Nouryon

USA,

LLC,

Term

Loan

95,505

8.427%, 

(TSFR3M

+

3.000%),

10/1/2025

b

95,346

Spectrum

Group

Buyer,

Inc.,

Term

Loan

47,789

11.953%, 

(TSFR1M

+

6.500%),

5/19/2028

b

45,913

Total

374,035

Capital

Goods

(0.9%)

Ali

Group

North

America

Corporation,

Term

Loan

71,941

7.431%, 

(TSFR1M

+

2.000%),

7/22/2029

b

71,841

Brookfield

WEC

Holdings,

Inc.,

Term

Loan

117,789

8.181%, 

(TSFR1M

+

2.750%),

8/1/2025

b

117,652

BW

Holding,

Inc.,

Term

Loan

50,037

9.573%, 

(TSFR1M

+

4.000%),

12/14/2028

b

44,802

Chart

Industries,

Inc.,

Term

Loan

43,291

9.174%, 

(TSFR1M

+

3.750%),

3/17/2030

b,c

43,291

Charter

Next

Generation,

Inc.,

Term

Loan

95,794

9.181%, 

(TSFR1M

+

3.750%),

12/1/2027

b

94,836

Clydesdale

Acquisition

Holdings,

Inc.,

Term

Loan

136,617

9.591%, 

(TSFR1M

+

4.175%),

4/13/2029

b

134,607

Cornerstone

Building

Brands,

Inc.,

Term

Loan

136,549

8.682%, 

(TSFR1M

+

3.250%),

4/12/2028

b

132,880

Emerald

Debt

Merger

Sub,

LLC,

Term

Loan

101,154

8.316%, 

(TSFR1M

+

3.000%),

5/31/2030

b

100,965

Foley

Products

Company,

LLC,

Term

Loan

42,934

10.290%, 

(SOFRRATE

+

4.750%),

2/16/2029

b

42,710

Proampac

PG

Borrower,

LLC,

Term

Loan

69,537

0.000%, 

(TSFR1M

+

4.500%),

9/26/2028

b,d,e

69,085

Quikrete

Holdings,

Inc.,

Term

Loan

157,365

8.056%, 

(TSFR1M

+

2.625%),

1/31/2027

b

156,972

Principal

Amount

Bank

Loans

(8.4%)

a

Value

Capital

Goods

(0.9%)

-

continued

Smyrna

Ready

Mix

Concrete,

LLC,

Term

Loan

$

102,559

9.666%, 

(TSFR1M

+

4.250%),

4/1/2029

b,c

$

102,687

TK

Elevator

U.S.

Newco,

Inc.,

Term

Loan

81,183

9.381%, 

(TSFR6M

+

3.500%),

7/31/2027

b

80,940

TransDigm,

Inc.,

Term

Loan

211,935

8.640%, 

(TSFR1M

+

3.250%),

8/24/2028

b

211,901

Vertiv

Group

Corporation,

Term

Loan

79,186

8.192%, 

(TSFR1M

+

2.750%),

3/2/2027

b

79,016

Total

1,484,185

Communications

Services

(1.3%)

Altice

France

SA/France,

Term

Loan

165,154

10.808%, 

(TSFR1M

+

5.500%),

8/31/2028

b

149,093

CCI

Buyer,

Inc.,

Term

Loan

63,350

9.390%, 

(TSFR3M

+

4.000%),

12/17/2027

b

62,440

Cengage

Learning,

Inc.,

Term

Loan

46,382

10.323%, 

(TSFR3M

+

4.750%),

7/14/2026

b

46,103

Charter

Communications

Operating,

LLC,

Term

Loan

198,928

7.116%, 

(TSFR3M

+

1.750%),

2/1/2027

b

198,606

Clear

Channel

Outdoor

Holdings,

Inc.,

Term

Loan

144,386

9.130%, 

(TSFR3M

+

3.500%),

8/23/2026

b

139,994

CMG

Media

Corporation,

Term

Loan

91,000

0.000%, 

(LIBOR

3M

+

3.500%),

12/17/2026

b,d,e

83,037

Crown

Subsea

Communications

Holding,

Inc.,

Term

Loan

47,483

10.444%, 

(TSFR1M

+

5.000%),

4/27/2027

b

47,562

74,868

10.694%, 

(TSFR1M

+

5.250%),

4/27/2027

b

75,055

CSC

Holdings,

LLC,

Term

Loan

73,311

7.947%, 

(LIBOR

1M

+

2.500%),

4/15/2027

b

66,224

DIRECTV

Financing,

LLC,

Term

Loan

175,287

10.431%, 

(TSFR1M

+

5.000%),

8/2/2027

b

171,100

Intelsat

Jackson

Holdings

SA,

Term

Loan

92,989

9.772%, 

(TSFR6M

+

4.250%),

2/1/2029

b

92,693

Level

3

Financing,

Inc.,

Term

Loan

83,000

7.181%, 

(TSFR1M

+

1.750%),

3/1/2027

b

78,248

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

328

Principal

Amount

Bank

Loans

(8.4%)

a

Value

Communications

Services

(1.3%)

-

continued

Lumen

Technologies,

Inc.,

Term

Loan

$

102,490

7.681%, 

(TSFR1M

+

2.250%),

3/15/2027

b

$

72,798

McGraw-Hill

Education,

Inc.,

Term

Loan

89,600

10.181%, 

(LIBOR

1M

+

4.750%),

7/30/2028

b,d,e

87,677

MH

Sub

I,

LLC,

Term

Loan

120,471

9.566%, 

(TSFR1M

+

4.250%),

5/3/2028

b

116,386

NEP

Group,

Inc.,

Term

Loan

51,536

8.681%, 

(TSFR1M

+

3.250%),

10/20/2025

b

49,701

Playtika

Holding

Corporation,

Term

Loan

63,350

8.181%, 

(TSFR1M

+

2.750%),

3/11/2028

b

63,232

Radiate

Holdco,

LLC,

Term

Loan

107,843

8.681%, 

(TSFR1M

+

3.250%),

9/25/2026

b

87,955

RLG

Holdings,

LLC,

Term

Loan

47,757

9.681%, 

(TSFR1M

+

4.250%),

7/8/2028

b

44,772

SBA

Senior

Finance

II,

LLC,

Term

Loan

65,143

7.170%, 

(TSFR1M

+

1.750%),

4/11/2025

b,d,e

65,075

UPC

Financing

Partnership,

Term

Loan

49,000

8.372%, 

(TSFR1M

+

2.925%),

1/31/2029

b

48,204

Virgin

Media

Bristol,

LLC,

Term

Loan

121,000

7.947%, 

(TSFR1M

+

2.500%),

1/31/2028

b

117,386

Zayo

Group

Holdings,

Inc.,

Term

Loan

100,170

8.431%, 

(TSFR1M

+

3.000%),

3/9/2027

b

81,569

Ziggo

Financing

Partnership,

Term

Loan

82,000

7.947%, 

(TSFR1M

+

2.500%),

4/30/2028

b

80,018

Total

2,124,928

Consumer

Cyclical

(1.5%)

1011778

B.C.,

ULC,

Term

Loan

197,465

7.566%, 

(TSFR1M

+

2.250%),

9/21/2030

b

196,602

AlixPartners,

LLP,

Term

Loan

56,421

8.181%, 

(TSFR1M

+

2.750%),

2/4/2028

b

56,337

Allied

Universal

Holdco,

LLC,

Term

Loan

196,990

9.166%, 

(TSFR1M

+

3.750%),

5/14/2028

b

189,983

Alterra

Mountain

Company,

Term

Loan

62,364

8.931%, 

(TSFR1M

+

3.500%),

8/17/2028

b

62,156

Arches

Buyer,

Inc.,

Term

Loan

34,643

8.666%, 

(TSFR1M

+

3.250%),

12/6/2027

b

33,863

Principal

Amount

Bank

Loans

(8.4%)

a

Value

Consumer

Cyclical

(1.5%)

-

continued

Caesars

Entertainment,

Inc.,

Term

Loan

$

127,360

8.666%, 

(TSFR1M

+

3.250%),

2/6/2030

b

$

127,281

Carnival

Corporation,

Term

Loan

157,398

8.681%, 

(TSFR1M

+

3.250%),

10/18/2028

b

156,414

Clarios

Global,

LP,

Term

Loan

108,696

9.066%, 

(TSFR1M

+

3.750%),

5/4/2030

b

108,357

Delta

2

Lux

SARL,

Term

Loan

118,000

8.316%, 

(TSFR1M

+

3.000%),

1/15/2030

b

117,882

Fertitta

Entertainment,

LLC/NV,

Term

Loan

48,508

9.316%, 

(TSFR1M

+

4.000%),

1/27/2029

b

47,962

First

Brands

Group,

LLC,

Term

Loan

62,519

10.881%, 

(TSFR6M

+

5.000%),

3/30/2027

b

61,581

GoDaddy

Operating

Company,

LLC,

Term

Loan

78,408

7.816%, 

(TSFR1M

+

2.500%),

11/10/2029

b

78,433

Great

Outdoors

Group,

LLC,

Term

Loan

109,879

9.181%, 

(TSFR1M

+

3.750%),

3/5/2028

b

109,506

Harbor

Freight

Tools

USA,

Inc.,

Term

Loan

98,242

8.181%, 

(TSFR1M

+

2.750%),

10/19/2027

b

97,394

IRB

Holding

Corporation,

Term

Loan

114,131

8.416%, 

(TSFR1M

+

3.000%),

12/15/2027

b

113,604

Light

&

Wonder

International,

Inc.,

Term

Loan

119,787

8.434%, 

(TSFR1M

+

3.000%),

4/14/2029

b

119,637

Petco

Health

&

Wellness

Company,

Inc.,

Term

Loan

49,665

8.902%, 

(TSFR3M

+

3.250%),

3/4/2028

b

49,044

PetSmart,

LLC,

Term

Loan

152,007

9.166%, 

(TSFR1M

+

3.750%),

2/12/2028

b

151,382

Pilot

Travel

Centers,

LLC,

Term

Loan

133,295

7.416%, 

(TSFR1M

+

2.000%),

8/6/2028

b

133,057

Prime

Security

Services

Borrower,

LLC,

Term

Loan

158,376

8.192%, 

(TSFR1M

+

2.750%),

9/23/2026

b

158,089

Scientific

Games

Holdings,

LP,

Term

Loan

81,180

8.768%, 

(TSFR1M

+

3.500%),

4/4/2029

b

80,639

Staples,

Inc.,

Term

Loan

75,990

10.634%, 

(LIBOR

3M

+

5.000%),

4/12/2026

b

65,041

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

329

Principal

Amount

Bank

Loans

(8.4%)

a

Value

Consumer

Cyclical

(1.5%)

-

continued

Stars

Group

Holdings

BV,

Term

Loan

$

46,525

7.902%, 

(TSFR3M

+

2.250%),

7/21/2026

b

$

46,462

UFC

Holdings,

LLC,

Term

Loan

77,700

8.369%, 

(TSFR3M

+

2.750%),

4/29/2026

b

77,577

Total

2,438,283

Consumer

Non-Cyclical

(1.3%)

AI

Aqua

Merger

Sub,

Inc.,

Term

Loan

105,539

9.084%, 

(TSFR1M

+

3.750%),

7/30/2028

b

104,369

Alltech,

Inc.,

Term

Loan

47,004

9.431%, 

(TSFR1M

+

4.000%),

10/15/2028

b

45,300

Amneal

Pharmaceuticals,

LLC,

Term

Loan

104,722

8.931%, 

(TSFR1M

+

3.500%),

5/4/2025

b

102,628

Bausch

+

Lomb

Corporation,

Term

Loan

124,737

8.755%, 

(TSFR1M

+

3.250%),

5/10/2027

b

121,065

Chobani,

LLC,

Term

Loan

48,514

8.931%, 

(TSFR1M

+

3.500%),

10/23/2027

b

48,468

DaVita,

Inc.,

Term

Loan

40,079

7.181%, 

(TSFR1M

+

1.750%),

8/12/2026

b

39,553

Elanco

Animal

Health,

Inc.,

Term

Loan

62,494

7.180%, 

(TSFR1M

+

1.750%),

8/1/2027

b

61,235

Froneri

U.S.,

Inc.,

Term

Loan

120,752

7.666%, 

(TSFR3M

+

2.250%),

1/31/2027

b

119,750

Gainwell

Acquisition

Corporation,

Term

Loan

169,691

9.490%, 

(TSFR3M

+

4.000%),

10/1/2027

b

165,290

ICON

Luxembourg

SARL,

Term

Loan

125,977

7.902%, 

(TSFR3M

+

2.250%),

7/1/2028

b

125,876

Jazz

Financing

Lux

SARL,

Term

Loan

157,215

8.931%, 

(TSFR1M

+

3.500%),

5/5/2028

b

157,062

LifePoint

Health,

Inc.,

Term

Loan

45,557

0.000%, 

(TSFR1M

+

5.500%),

11/16/2028

b,c,d,e

44,190

153,609

9.377%, 

(TSFR3M

+

3.750%),

11/16/2025

b,d,e

153,097

Medline

Borrower,

LP,

Term

Loan

287,085

8.681%, 

(TSFR1M

+

3.250%),

10/21/2028

b

286,138

Organon

&

Company,

Term

Loan

144,765

8.442%, 

(TSFR1M

+

3.000%),

6/2/2028

b

144,331

Principal

Amount

Bank

Loans

(8.4%)

a

Value

Consumer

Non-Cyclical

(1.3%)

-

continued

Packaging

Coordinators

Midco,

Inc.,

Term

Loan

$

49,618

9.152%, 

(TSFR3M

+

3.500%),

11/30/2027

b

$

49,355

Phoenix

Newco,

Inc.,

Term

Loan

65,337

8.681%, 

(TSFR1M

+

3.250%),

11/15/2028

b

64,817

PRA

Health

Sciences,

Inc.,

Term

Loan

31,387

7.902%, 

(TSFR3M

+

2.250%),

7/1/2028

b

31,362

Reynolds

Consumer

Products,

LLC,

Term

Loan

90,614

7.166%, 

(TSFR1M

+

1.750%),

2/4/2027

b

90,460

Select

Medical

Corporation,

Term

Loan

79,800

8.316%, 

(TSFR1M

+

3.000%),

3/6/2027

b

79,501

Sotera

Health

Holdings,

LLC,

Term

Loan

55,500

8.181%, 

(TSFR1M

+

2.750%),

12/11/2026

b

54,931

Star

Parent,

Inc.,

Term

Loan

75,207

0.000%, 

(TSFR1M

+

4.000%),

9/28/2030

b,d,e

73,442

Total

2,162,220

Energy

(0.2%)

Buckeye

Partners,

LP,

Term

Loan

79,186

7.666%, 

(TSFR1M

+

2.250%),

11/1/2026

b

79,067

CQP

Holdco,

LP,

Term

Loan

158,380

8.990%, 

(TSFR1M

+

3.500%),

6/4/2028

b

158,343

GIP

II

Blue

Holding,

LP,

Term

Loan

26,812

9.931%, 

(TSFR3M

+

4.500%),

9/29/2028

b

26,846

GIP

III

Stetson

I,

LP,

Term

Loan

44,113

9.666%, 

(TSFR1M

+

4.250%),

7/18/2025

b

44,067

Oryx

Midstream

Services

Permian

Basin,

LLC,

Term

Loan

37,707

8.692%, 

(TSFR3M

+

3.250%),

10/5/2028

b

37,648

Total

345,971

Financials

(0.6%)

Acrisure,

LLC,

Term

Loan

74,231

8.931%, 

(LIBOR

1M

+

3.500%),

2/15/2027

b

73,091

Alliant

Holdings

Intermediate,

LLC,

Term

Loan

30,687

8.831%, 

(TSFR1M

+

3.500%),

11/6/2027

b

30,620

AmWINS

Group,

Inc.,

Term

Loan

119,769

7.681%, 

(TSFR1M

+

2.250%),

2/19/2028

b

118,939

Asurion,

LLC,

Term

Loan

113,731

8.681%, 

(LIBOR

3M

+

3.250%),

12/23/2026

b

111,172

33,333

8.681%, 

(TSFR3M

+

3.250%),

7/31/2027

b

32,166

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

330

Principal

Amount

Bank

Loans

(8.4%)

a

Value

Financials

(0.6%)

-

continued

$

15,684

9.666%, 

(TSFR1M

+

4.250%),

8/19/2028

b

$

15,213

Edelman

Financial

Engines

Center,

LLC,

Term

Loan

32,666

8.931%, 

(TSFR1M

+

3.500%),

4/7/2028

b

32,282

First

Eagle

Holdings,

Inc.,

Term

Loan

32,651

7.990%, 

(TSFR3M

+

2.500%),

2/2/2027

b

32,337

Focus

Financial

Partners,

LLC,

Term

Loan

53,594

8.566%, 

(TSFR1M

+

3.250%),

6/30/2028

b

53,408

Howden

Group

Holdings,

Ltd.,

Term

Loan

32,664

8.688%, 

(LIBOR

1M

+

3.250%),

11/12/2027

b

32,525

HUB

International,

Ltd.,

Term

Loan

99,239

9.584%, 

(TSFR1M

+

4.250%),

6/20/2030

b

99,405

Hudson

River

Trading,

LLC,

Term

Loan

34,645

8.631%, 

(TSFR1M

+

3.000%),

3/18/2028

b

34,391

Jane

Street

Group,

LLC,

Term

Loan

63,349

8.181%, 

(TSFR1M

+

2.750%),

1/26/2028

b

63,111

Sedgwick

Claims

Management

Services,

Inc.,

Term

Loan

52,237

9.066%, 

(TSFR1M

+

3.750%),

2/24/2028

b

52,101

Trans

Union,

LLC,

Term

Loan

98,728

7.681%, 

(TSFR1M

+

2.250%),

12/1/2028

b

98,592

USI,

Inc./NY,

Term

Loan

117,810

9.140%, 

(TSFR1M

+

3.750%),

11/22/2029

b

117,630

VFH

Parent,

LLC,

Term

Loan

48,510

8.418%, 

(TSFR1M

+

3.000%),

1/13/2029

b

48,075

Total

1,045,058

Technology

(1.8%)

Amentum

Government

Services

Holdings,

LLC,

Term  Loan

79,198

9.331%, 

(TSFR1M

+

4.000%),

2/15/2029

b

77,961

AthenaHealth

Group,

Inc.,

Term

Loan

153,186

8.568%, 

(PRIME

+

3.250%),

2/15/2029

b

150,075

Boxer

Parent

Company,

Inc.,

Term

Loan

120,575

9.181%, 

(TSFR1M

+

3.750%),

10/2/2025

b

120,392

Central

Parent,

Inc.,

Term

Loan

141,927

9.640%, 

(TSFR3M

+

4.250%),

7/6/2029

b

141,851

Cloud

Software

Group,

Inc.,

Term

Loan

85,570

9.990%, 

(TSFR3M

+

4.500%),

3/30/2029

b

82,165

Principal

Amount

Bank

Loans

(8.4%)

a

Value

Technology

(1.8%)

-

continued

Coherent

Corporation,

Term

Loan

$

73,132

8.181%, 

(TSFR3M

+

2.750%),

7/1/2029

b

$

72,813

CommScope,

Inc.,

Term

Loan

47,751

8.681%, 

(TSFR1M

+

3.250%),

4/4/2026

b

43,477

CoreLogic,

Inc.,

Term

Loan

65,499

8.931%, 

(TSFR1M

+

3.500%),

6/2/2028

b

60,395

Cornerstone

OnDemand,

Inc.,

Term

Loan

87,116

9.181%, 

(TSFR1M

+

3.750%),

10/15/2028

b

82,651

Dcert

Buyer,

Inc.,

Term

Loan

96,005

9.316%, 

(TSFR6M

+

4.000%),

10/16/2026

b

95,274

Dun

&

Bradstreet

Corporation,

Term

Loan

94,996

8.167%, 

(TSFR1M

+

2.750%),

2/8/2026

b

94,788

Entegris,

Inc.,

Term

Loan

67,911

7.871%, 

(TSFR3M

+

2.500%),

7/6/2029

b

67,890

Gen

Digital,

Inc.,

Term

Loan

91,946

7.416%, 

(TSFR1M

+

2.000%),

9/12/2029

b

91,578

Genesys

Cloud

Services

Holdings

II,

LLC,

Term

Loan

79,389

9.431%, 

(TSFR1M

+

4.000%),

12/1/2027

b

79,389

GTCR

W

Merger

Sub,

LLC,

Term

Loan

145,600

0.000%, 

(TSFR1M

+

3.000%),

9/20/2030

b,d,e

145,494

Informatica,

LLC,

Term

Loan

79,196

8.181%, 

(TSFR1M

+

2.750%),

10/29/2028

b

78,850

Magenta

Buyer,

LLC,

Term

Loan

85,348

10.631%, 

(TSFR3M

+

5.000%),

7/27/2028

b

63,253

McAfee

Corporation,

Term

Loan

163,346

9.180%, 

(TSFR1M

+

3.750%),

3/1/2029

b

159,313

Mitchell

International,

Inc.,

Term

Loan

98,995

9.181%, 

(TSFR1M

+

3.750%),

10/15/2028

b

97,234

MKS

Instruments,

Inc.,

Term

Loan

142,560

8.166%, 

(TSFR1M

+

2.750%),

8/17/2029

b

142,330

Open

Text

Corporation,

Term

Loan

120,093

8.166%, 

(TSFR1M

+

2.750%),

1/31/2030

b

120,038

Peraton

Corporation,

Term

Loan

246,700

9.166%, 

(TSFR1M

+

3.750%),

2/1/2028

b

245,930

Polaris

Newco,

LLC,

Term

Loan

142,545

9.431%, 

(TSFR3M

+

4.000%),

6/4/2028

b

136,283

Proofpoint,

Inc.,

Term

Loan

105,922

8.681%, 

(TSFR1M

+

3.250%),

8/31/2028

b

104,936

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

331

Principal

Amount

Bank

Loans

(8.4%)

a

Value

Technology

(1.8%)

-

continued

RealPage,

Inc.,

Term

Loan

$

81,172

8.431%, 

(TSFR1M

+

3.000%),

4/22/2028

b

$

80,157

Tempo

Acquisition,

LLC,

Term

Loan

78,207

8.316%, 

(TSFR1M

+

2.750%),

8/31/2028

b

78,207

UKG,

Inc.,

Term

Loan

169,277

8.618%, 

(TSFR3M

+

3.250%),

5/3/2026

b

168,661

Verscend

Holding

Corporation,

Term

Loan

116,805

9.431%, 

(TSFR1M

+

4.000%),

8/27/2025

b

116,680

Total

2,998,065

Transportation

(0.5%)

AAdvantage

Loyalty

IP,

Ltd.,

Term

Loan

178,979

10.338%, 

(TSFR3M

+

4.750%),

4/20/2028

b

184,170

Air

Canada,

Term

Loan

150,476

9.128%, 

(TSFR3M

+

3.500%),

8/11/2028

b

150,445

Apple

Bidco,

LLC,

Term

Loan

49,249

8.181%, 

(TSFR1M

+

2.750%),

9/23/2028

b

48,855

Brown

Group

Holding,

LLC,

Term

Loan

63,308

8.166%, 

(TSFR1M

+

2.750%),

6/7/2028

b

62,661

Genesee

&

Wyoming,

Inc.,

Term

Loan

79,180

7.490%, 

(TSFR3M

+

2.000%),

12/30/2026

b

79,006

SkyMiles

IP,

Ltd.,

Term

Loan

144,503

9.076%, 

(TSFR3M

+

3.750%),

10/20/2027

b

149,508

United

Airlines,

Inc.,

Term

Loan

181,010

9.182%, 

(TSFR3M

+

3.750%),

4/21/2028

b

181,051

Total

855,696

Utilities

(0.1%)

PG&E

Corporation,

Term

Loan

116,232

8.431%, 

(TSFR1M

+

3.000%),

6/23/2025

b

116,152

Total

116,152

Total

Bank

Loans

(cost

$13,905,784)

13,944,593

Principal

Amount

Long-Term

Fixed

Income

(

78

.2

%

)

Value

Asset-Backed

Securities

(10.2%)

510

Asset

Backed

Trust

200,000

3.967%, 

5/25/2061,

Ser.

2021-NPL1,

Class

A2

f,g

170,205

186,778

2.116%, 

6/25/2061,

Ser.

2021-NPL2,

Class

A1

f,g

170,740

275,000

4.090%, 

6/25/2061,

Ser.

2021-NPL2,

Class

A2

f,g

235,048

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Asset-Backed

Securities

(10.2%)

-

continued

720

East

CLO

I,

Ltd.

$

300,000

9.576%, 

(TSFR3M

+

4.250%),

1/20/2036,

Ser.

2022-1A,

Class

C

b,f

$

302,284

Affirm

Asset

Securitization

Trust

350,000

4.300%, 

5/17/2027,

Ser.

2022-A,

Class

1A

f

342,535

300,000

6.610%, 

1/18/2028,

Ser.

2023-A,

Class

A

f

298,057

Anchorage

Capital

CLO

16,

Ltd.

450,000

7.982%, 

(TSFR3M

+

2.662%),

1/19/2035,

Ser.

2020-16A,

Class

CR

b,f

441,583

Anchorage

Capital

CLO

21,

Ltd.

400,000

7.988%, 

(TSFR3M

+

2.662%),

10/20/2034,

Ser.

2021-21A,

Class

C

b,f

393,214

Ares

XL

CLO,

Ltd.

325,000

8.370%, 

(TSFR3M

+

3.062%),

1/15/2029,

Ser.

2016-40A,

Class

CRR

b,f

318,133

Babson

CLO,

Ltd.

500,000

8.488%, 

(TSFR3M

+

3.162%),

7/20/2029,

Ser.

2018-3A,

Class

D

b,f

495,993

Barings

CLO,

Ltd.

350,000

8.738%, 

(TSFR3M

+

3.412%),

1/20/2032,

Ser.

2016-2A,

Class

DR2

b,f

343,506

Benefit

Street

Partners

CLO

II,

Ltd.

300,000

7.470%, 

(TSFR3M

+

2.162%),

7/15/2029,

Ser.

2013-IIA,

Class

BR2

b,f

299,990

Business

Jet

Securities,

LLC

40,618

2.981%, 

11/15/2035,

Ser.

2020-1A,

Class

A

f

38,081

361,028

4.455%, 

6/15/2037,

Ser.

2022-1A,

Class

A

f

337,520

CarVal

CLO

VIII-C,

Ltd.

450,000

8.346%, 

(TSFR3M

+

3.000%),

10/22/2035,

Ser.

2022-2A,

Class

B1

b,f

452,552

CarVal

CLO,

Ltd.

300,000

9.034%, 

(TSFR3M

+

3.700%),

4/21/2034,

Ser.

2022-1A,

Class

D

b,f

288,098

College

Avenue

Student

Loans,

LLC

73,461

7.084%, 

(TSFR1M

+

1.764%),

11/26/2046,

Ser.

2017-A,

Class

A1

b,f

73,709

Dewolf

Park

CLO,

Ltd.

350,000

8.420%, 

(TSFR3M

+

3.112%),

10/15/2030,

Ser.

2017-1A,

Class

DR

b,f

336,336

Dryden

36

Senior

Loan

Fund

275,000

7.620%, 

(TSFR3M

+

2.312%),

4/15/2029,

Ser.

2014-36A,

Class

CR3

b,f

270,777

Education

Funding

Trust

204,601

2.790%, 

7/25/2041,

Ser.

2020-A,

Class

A

f

185,389

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

332

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Asset-Backed

Securities

(10.2%)

-

continued

FirstKey

Homes

Trust

$

700,000

1.968%, 

10/19/2037,

Ser.

2020-SFR2,

Class

D

f

$

635,727

FRTKL

Trust

200,000

1.922%, 

9/17/2038,

Ser.

2021-SFR1,

Class

C

f

173,689

GMAC

Mortgage

Corporation

Loan

Trust

22,058

5.934%, 

(TSFR1M

+

0.614%),

8/25/2035,

Ser.

2005-HE1,

Class

A2

b,h

12,226

GSAA

Home

Equity

Trust

76,740

4.467%, 

8/25/2034,

Ser.

2004-10,

Class

M2

b,g

66,752

Harley

Marine

Financing,

LLC

229,480

6.682%, 

5/15/2043,

Ser.

2018-1A,

Class

A2

f

228,706

Home

Equity

Asset

Trust

401,662

6.754%, 

(TSFR1M

+

1.434%),

8/25/2033,

Ser.

2003-2,

Class

M1

b

379,662

Long

Beach

Mortgage

Loan

Trust

303,964

6.934%, 

(TSFR1M

+

1.614%),

9/25/2034,

Ser.

2004-5,

Class

M3

b

294,876

Longfellow

Place

CLO,

Ltd.

400,000

7.870%, 

(TSFR3M

+

2.562%),

4/15/2029,

Ser.

2013-1A,

Class

CR3

b,f

398,889

Madison

Park

Funding

XVIII,

Ltd.

550,000

7.495%, 

(TSFR3M

+

2.162%),

10/21/2030,

Ser.

2015-18A,

Class

CRR

b,f

537,048

Neuberger

Berman

CLO,

Ltd.

425,000

8.570%, 

(TSFR3M

+

3.262%),

10/15/2029,

Ser.

2013-15A,

Class

DR2

b,f

404,784

Pagaya

AI

Debt

Trust

259,158

7.556%, 

7/15/2030,

Ser.

2023-1,

Class

A

f

260,214

Pagaya

AI

Technology

in

Housing

Trust

300,000

4.250%, 

8/25/2025,

Ser.

2022-1,

Class

B

f

282,535

PPM

CLO

6,

Ltd.

300,000

9.826%, 

(TSFR3M

+

4.500%),

1/20/2031,

Ser.

2022-6A,

Class

C

b,f

299,745

Preston

Ridge

Partners

Mortgage

Trust,

LLC

350,000

3.474%, 

7/25/2026,

Ser.

2021-6,

Class

A2

f,g

285,298

Pretium

Mortgage

Credit

Partners,

LLC

225,000

5.438%, 

1/25/2052,

Ser.

2022-NPL1,

Class

A2

f,g

203,240

225,000

3.844%, 

6/27/2060,

Ser.

2021-NPL2,

Class

A2

f,g

178,796

250,000

3.721%, 

7/25/2051,

Ser.

2021-NPL3,

Class

A2

f,g

200,107

186,629

2.487%, 

10/25/2051,

Ser.

2021-NPL5,

Class

A1

f,g

175,399

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Asset-Backed

Securities

(10.2%)

-

continued

Progress

Residential

Trust

$

350,000

3.600%, 

4/17/2039,

Ser.

2022-SFR3,

Class

B

f

$

318,335

Renaissance

Home

Equity

Loan

Trust

216,611

5.797%, 

8/25/2036,

Ser.

2006-2,

Class

AF3

g

85,774

Saxon

Asset

Securities

Trust

120,405

2.869%, 

8/25/2035,

Ser.

2004-2,

Class

MF2

b

99,913

Sculptor

CLO,

Ltd.

425,000

7.988%, 

(TSFR3M

+

2.662%),

1/20/2035,

Ser.

28A,

Class

C

b,f

417,998

Shackleton

CLO,

Ltd.

250,000

7.788%, 

(TSFR3M

+

2.462%),

10/20/2034,

Ser.

2021-16A,

Class

C

b,f

241,954

Silver

Point

CLO

2,

Ltd.

200,000

7.782%, 

(TSFR3M

+

2.700%),

4/20/2035,

Ser.

2023-2A,

Class

A2

b,f

201,126

Sound

Point

CLO,

Ltd.

450,000

7.838%, 

(TSFR3M

+

2.512%),

1/20/2032,

Ser.

2019-1A,

Class

CR

b,f

427,351

Stanwich

Mortgage

Loan

Company,

LLC

373,074

2.735%, 

10/16/2026,

Ser.

2021-NPB1,

Class

A1

f,g

339,974

Stratus

CLO,

Ltd.

450,000

8.088%, 

(TSFR3M

+

2.762%),

12/29/2029,

Ser.

2021-1A,

Class

D

b,f

443,264

400,000

8.376%, 

(TSFR3M

+

3.050%),

10/20/2031,

Ser.

2022-3A,

Class

B

b,f

401,035

Unlock

HEA

Trust

300,000

7.000%, 

10/25/2038,

Ser.

2023-1,

Class

A

e,f

283,108

Upstart

Securitization

Trust

218,456

6.590%, 

2/20/2033,

Ser.

2023-1,

Class

A

f

218,011

VCAT

Asset

Securitization,

LLC

100,000

4.826%, 

12/26/2050,

Ser.

2021-NPL1,

Class

A2

f,g

90,098

Vericrest

Opportunity

Loan

Transferee

350,000

4.826%, 

2/27/2051,

Ser.

2021-NPL2,

Class

A2

f,g

278,508

400,000

4.949%, 

2/27/2051,

Ser.

2021-NPL3,

Class

A2

f,g

304,012

450,000

4.826%, 

4/25/2051,

Ser.

2021-NPL6,

Class

A2

f,g

338,243

200,000

4.949%, 

4/25/2051,

Ser.

2021-NPL8,

Class

A2

f,g

151,221

325,000

4.826%, 

5/25/2051,

Ser.

2021-NPL9,

Class

A2

f,g

245,477

250,000

5.438%, 

12/26/2051,

Ser.

2021-NP12,

Class

A2

f,g

188,363

Whitebox

CLO

III,

Ltd.

450,000

7.770%, 

(TSFR3M

+

2.462%),

10/15/2034,

Ser.

2021-3A,

Class

C

b,f

444,564

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

333

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Asset-Backed

Securities

(10.2%)

-

continued

Whitebox

CLO

IV,

Ltd.

$

450,000

7.380%, 

(TSFR3M

+

2.600%),

4/20/2036,

Ser.

2023-4A,

Class

B

b,f

$

447,691

Wind

River

CLO,

Ltd.

200,000

7.588%, 

(TSFR3M

+

2.262%),

7/20/2030,

Ser.

2013-1A,

Class

BRR

b,f

198,703

Total

16,976,166

Basic

Materials

(1.8%)

Anglo

American

Capital

plc

63,000

3.875%, 

3/16/2029

f

56,454

ATI,

Inc.

89,000

7.250%, 

8/15/2030

88,332

ATI,

Inc.,

Convertible

30,000

3.500%, 

6/15/2025

80,685

Cascades,

Inc./Cascades

USA,

Inc.

85,000

5.125%, 

1/15/2026

f

81,367

Chemours

Company

169,000

5.750%, 

11/15/2028

f

146,675

Cleveland-Cliffs,

Inc.

70,000

5.875%, 

6/1/2027

i

66,627

110,000

4.625%, 

3/1/2029

f,i

95,817

Consolidated

Energy

Finance

SA

229,000

5.625%, 

10/15/2028

f

189,211

Ecolab,

Inc.

58,000

2.125%, 

2/1/2032

45,485

EIDP,

Inc.

51,000

4.500%, 

5/15/2026

49,675

First

Quantum

Minerals,

Ltd.

203,000

6.875%, 

10/15/2027

f

194,754

FMC

Corporation

44,000

5.150%, 

5/18/2026

42,748

Glencore

Funding,

LLC

63,000

4.000%, 

3/27/2027

f

59,135

69,000

6.125%, 

10/6/2028

e,f

68,882

31,000

6.375%, 

10/6/2030

e,f

30,917

Hecla

Mining

Company

45,000

7.250%, 

2/15/2028

43,537

Hudbay

Minerals,

Inc.

135,000

4.500%, 

4/1/2026

f

126,303

Illuminate

Buyer,

LLC/Illuminate

Holdings

IV,

Inc.

99,000

9.000%, 

7/1/2028

f

93,500

International

Flavors

&

Fragrances,

Inc.

75,000

1.230%, 

10/1/2025

f

67,230

Mineral

Resources,

Ltd.

25,000

9.250%, 

10/1/2028

f

25,250

Mosaic

Company

95,000

4.050%, 

11/15/2027

89,173

Novelis

Corporation

75,000

3.250%, 

11/15/2026

f

66,982

40,000

4.750%, 

1/30/2030

f

34,618

50,000

3.875%, 

8/15/2031

f

39,929

Nutrien,

Ltd.

84,000

4.000%, 

12/15/2026

79,614

Olin

Corporation

176,000

5.125%, 

9/15/2027

164,562

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Basic

Materials

(1.8%)

-

continued

Peabody

Energy

Corporation,

Convertible

$

28,000

3.250%, 

3/1/2028

i

$

42,210

SCIL

IV,

LLC/SCIL

USA

Holdings,

LLC

149,000

5.375%, 

11/1/2026

f

136,144

SNF

Group

SACA

134,000

3.375%, 

3/15/2030

f

108,152

SunCoke

Energy,

Inc.

154,000

4.875%, 

6/30/2029

f

130,858

Taseko

Mines,

Ltd.

110,000

7.000%, 

2/15/2026

f

102,754

Unifrax

Escrow

Issuer

Corporation

119,000

5.250%, 

9/30/2028

f

84,745

United

States

Steel

Corporation

153,000

6.875%, 

3/1/2029

i

150,407

United

States

Steel

Corporation,

Convertible

33,000

5.000%, 

11/1/2026

81,279

Westlake

Corporation

42,000

3.600%, 

8/15/2026

39,675

Total

3,003,686

Capital

Goods

(3.8%)

Advanced

Drainage

Systems,

Inc.

94,000

6.375%, 

6/15/2030

f

90,282

AECOM

235,000

5.125%, 

3/15/2027

222,569

Amcor

Finance

USA,

Inc.

38,000

5.625%, 

5/26/2033

36,486

Amphenol

Corporation

46,000

4.750%, 

3/30/2026

45,181

ARD

Finance

SA

48,000

6.500%, 

6/30/2027

f

36,213

Ardagh

Packaging

Finance

plc/

Ardagh

Holdings

USA,

Inc.

109,000

5.250%, 

8/15/2027

f,i

90,960

35,000

5.250%, 

8/15/2027

f

29,207

Boeing

Company

94,000

4.875%, 

5/1/2025

92,385

163,000

2.196%, 

2/4/2026

149,664

63,000

3.250%, 

3/1/2028

56,614

124,000

5.150%, 

5/1/2030

118,482

Bombardier,

Inc.

50,000

7.125%, 

6/15/2026

f

48,443

154,000

7.875%, 

4/15/2027

f

150,265

60,000

6.000%, 

2/15/2028

f

54,432

Brand

Industrial

Services,

Inc.

43,000

10.375%, 

8/1/2030

f

43,066

Builders

FirstSource,

Inc.

80,000

5.000%, 

3/1/2030

f

71,329

Canpack

SA/Canpack

US,

LLC

158,000

3.125%, 

11/1/2025

f

145,752

Carrier

Global

Corporation

85,000

2.722%, 

2/15/2030

70,837

Chart

Industries,

Inc.

143,000

7.500%, 

1/1/2030

f

143,784

Chart

Industries,

Inc.,

Convertible

31,000

1.000%, 

11/15/2024

90,024

Clydesdale

Acquisition

Holdings,

Inc.

21,000

6.625%, 

4/15/2029

f

19,526

41,000

8.750%, 

4/15/2030

f

35,164

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

334

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Capital

Goods

(3.8%)

-

continued

Cornerstone

Building

Brands,

Inc.

$

105,000

6.125%, 

1/15/2029

f

$

79,600

Covanta

Holding

Corporation

86,000

4.875%, 

12/1/2029

f

70,554

CP

Atlas

Buyer,

Inc.

125,000

7.000%, 

12/1/2028

f,i

98,017

Crown

Cork

&

Seal

Company,

Inc.

123,000

7.375%, 

12/15/2026

124,845

Fluor

Corporation,

Convertible

91,000

1.125%, 

8/15/2029

f

94,048

GFL

Environmental,

Inc.

103,000

4.000%, 

8/1/2028

f

89,998

135,000

3.500%, 

9/1/2028

f

116,223

Greenbrier

Companies,

Inc.,

Convertible

61,000

2.875%, 

4/15/2028

57,462

H&E

Equipment

Services,

Inc.

230,000

3.875%, 

12/15/2028

f

196,396

Herc

Holdings,

Inc.

130,000

5.500%, 

7/15/2027

f

122,935

Howmet

Aerospace,

Inc.

59,000

6.750%, 

1/15/2028

59,412

317,000

3.000%, 

1/15/2029

268,328

Huntington

Ingalls

Industries,

Inc.

63,000

4.200%, 

5/1/2030

56,976

Ingersoll

Rand,

Inc.

19,000

5.700%, 

8/14/2033

18,337

John

Deere

Capital

Corporation

30,000

5.150%, 

9/8/2026

29,905

31,000

4.950%, 

7/14/2028

30,572

90,000

2.800%, 

7/18/2029

79,270

37,000

4.700%, 

6/10/2030

35,580

42,000

3.900%, 

6/7/2032

37,837

16,000

5.150%, 

9/8/2033

15,646

Kaman

Corporation,

Convertible

24,000

3.250%, 

5/1/2024

23,297

L3Harris

Technologies,

Inc.

31,000

5.400%, 

1/15/2027

30,730

Mauser

Packaging

Solutions

Holding

Company

70,000

9.250%, 

4/15/2027

f

61,186

MIWD

Holdco

II,

LLC

75,000

5.500%, 

2/1/2030

f

61,968

Mueller

Water

Products,

Inc.

80,000

4.000%, 

6/15/2029

f

69,672

Nesco

Holdings

II,

Inc.

145,000

5.500%, 

4/15/2029

f

127,238

New

Enterprise

Stone

and

Lime

Company,

Inc.

176,000

5.250%, 

7/15/2028

f

157,920

Northrop

Grumman

Corporation

21,000

4.700%, 

3/15/2033

19,606

OI

European

Group

BV

154,000

4.750%, 

2/15/2030

f

133,958

Otis

Worldwide

Corporation

71,000

2.056%, 

4/5/2025

67,031

Owens-Brockway

Glass

Container,

Inc.

73,000

6.625%, 

5/13/2027

f

71,166

Pactiv

Evergreen

Group

100,000

4.375%, 

10/15/2028

f

86,766

Parker-Hannifin

Corporation

35,000

4.250%, 

9/15/2027

33,438

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Capital

Goods

(3.8%)

-

continued

Patrick

Industries,

Inc.,

Convertible

$

24,000

1.750%, 

12/1/2028

$

22,644

PGT

Innovations,

Inc.

136,000

4.375%, 

10/1/2029

f

125,403

Republic

Services,

Inc.

42,000

3.950%, 

5/15/2028

39,423

Roller

Bearing

Company

of

America,

Inc.

109,000

4.375%, 

10/15/2029

f

93,758

Sealed

Air

Corporation

119,000

6.125%, 

2/1/2028

f

115,254

Silgan

Holdings,

Inc.

57,000

4.125%, 

2/1/2028

50,995

SRM

Escrow

Issuer,

LLC

175,000

6.000%, 

11/1/2028

f

161,606

Textron,

Inc.

63,000

3.650%, 

3/15/2027

58,821

Titan

Acquisition,

Ltd./Titan

Co-

Borrower,

LLC

45,000

7.750%, 

4/15/2026

f

44,100

TransDigm,

Inc.

145,000

6.250%, 

3/15/2026

f

142,474

372,000

5.500%, 

11/15/2027

348,322

Triumph

Group,

Inc.

122,000

9.000%, 

3/15/2028

f

120,634

United

Rentals

North

America,

Inc.

162,000

4.875%, 

1/15/2028

151,325

100,000

4.000%, 

7/15/2030

85,222

Veralto

Corporation

35,000

5.350%, 

9/18/2028

f

34,604

Waste

Connections,

Inc.

23,000

3.200%, 

6/1/2032

19,082

Waste

Management,

Inc.

31,000

4.875%, 

2/15/2029

30,312

Waste

Pro

USA,

Inc.

55,000

5.500%, 

2/15/2026

f

51,358

WESCO

Distribution,

Inc.

190,000

7.250%, 

6/15/2028

f

190,922

Total

6,352,841

Collateralized

Mortgage

Obligations

(7.3%)

A&D

Mortgage

Trust

197,239

6.733%, 

7/25/2068,

Ser.

2023-NQM3,

Class

A1

f,g

196,985

Arroyo

Mortgage

Trust

500,000

3.269%, 

12/25/2056,

Ser.

2022-1,

Class

A1B

f,g

416,400

Banc

of

America

Alternative

Loan

Trust

88,895

6.000%, 

11/25/2035,

Ser.

2005-10,

Class

3CB1

74,294

Banc

of

America

Mortgage

Securities

Trust

100,683

5.499%, 

9/25/2035,

Ser.

2005-H,

Class

3A1

b

90,690

Bear

Stearns

Adjustable

Rate

Mortgage

Trust

86,278

3.831%, 

1/25/2034,

Ser.

2003-8,

Class

5A

b

72,712

22,888

7.670%, 

(CMT

1Y

+

2.300%),

10/25/2035,

Ser.

2005-9,

Class

A1

b

21,245

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

335

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Collateralized

Mortgage

Obligations

(7.3%)

-

continued

CAFL

Issuer,

LLC

$

300,000

2.239%, 

3/28/2029,

Ser.

2021-RTL1,

Class

A1

f

$

277,272

ChaseFlex

Trust

154,428

6.500%, 

2/25/2035,

Ser.

2005-1,

Class

1A5

123,851

CHL

Mortgage

Pass-Through

Trust

82,546

4.063%, 

12/20/2035,

Ser.

2005-HYB8,

Class

3A1

b

78,537

68,229

6.000%, 

4/25/2037,

Ser.

2007-3,

Class

A18

32,122

CHNGE

Mortgage

Trust

245,166

3.757%, 

3/25/2067,

Ser.

2022-2,

Class

A1

b,f

225,092

257,368

5.000%, 

5/25/2067,

Ser.

2022-3,

Class

A1

b,f

248,983

282,132

6.525%, 

6/25/2058,

Ser.

2023-2,

Class

A1

f,g

277,028

535,351

5.820%, 

6/25/2067,

Ser.

2022-NQM1,

Class

A3

f,g

515,170

329,908

6.000%, 

10/25/2057,

Ser.

2022-4,

Class

A1

f,g

321,123

Citigroup

Mortgage

Loan

Trust,

Inc.

191,175

5.500%, 

8/25/2034,

Ser.

2004-NCM2,

Class

1CB1

164,945

297,345

4.259%, 

4/25/2037,

Ser.

2007-AR5,

Class

1A1A

b

253,714

Countrywide

Alternative

Loan

Trust

78,896

5.000%, 

3/25/2035,

Ser.

2005-3CB,

Class

1A1

63,100

121,607

5.500%, 

5/25/2035,

Ser.

2005-J3,

Class

1A5

94,816

47,122

5.500%, 

10/25/2035,

Ser.

2005-46CB,

Class

A8

32,503

30,620

5.500%, 

2/25/2036,

Ser.

2005-85CB,

Class

2A2

23,391

Countrywide

Home

Loan

Mortgage

Pass

Through

Trust

76,567

3.728%, 

11/25/2035,

Ser.

2005-22,

Class

2A1

b

60,966

Credit

Suisse

Mortgage

Trust

241,824

6.567%, 

8/25/2067,

Ser.

2022-ATH3,

Class

A3

b,f

236,030

219,030

2.572%, 

11/25/2066,

Ser.

2022-NQM1,

Class

A2

b,f

173,313

Deutsche

Alt-A

Securities,

Inc.,

Mortgage

Loan

Trust

109,983

5.250%, 

6/25/2035,

Ser.

2005-3,

Class

4A6

95,399

Eagle

RE,

Ltd.

300,000

9.265%, 

(SOFR30A

+

3.950%),

9/26/2033,

Ser.

2023-1,

Class

M1B

b,e,f

300,000

Federal

Home

Loan

Mortgage

Corporation

351,944

3.500%, 

8/15/2035,

Ser.

345,

Class

C8

j

38,021

Federal

Home

Loan

Mortgage

Corporation

-

REMIC

113,352

4.000%, 

1/25/2051,

Ser.

5249,

Class

LA

106,940

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Collateralized

Mortgage

Obligations

(7.3%)

-

continued

$

346,797

Zero

Coupon, 

9/25/2053,

Ser.

5334,

Class

BO

$

258,082

3,387,418

1.500%, 

12/25/2050,

Ser.

5107,

Class

IO

j

281,307

177,502

3.000%, 

5/15/2027,

Ser.

4046,

Class

GI

j

5,583

168,909

3.000%, 

7/15/2027,

Ser.

4084,

Class

NI

j

6,204

283,761

3.500%, 

10/15/2032,

Ser.

4119,

Class

KI

j

27,754

318,854

3.000%, 

4/15/2033,

Ser.

4203,

Class

DI

j

16,120

Federal

National

Mortgage

Association

-

REMIC

174,850

4.500%, 

6/25/2052,

Ser.

2022-43,

Class

MA

166,602

336,175

4.000%, 

7/25/2052,

Ser.

2022-37,

Class

PE

316,223

129,105

3.000%, 

7/25/2027,

Ser.

2012-73,

Class

DI

j

4,238

210,994

3.000%, 

7/25/2027,

Ser.

2012-74,

Class

AI

j

7,133

277,997

3.000%, 

8/25/2027,

Ser.

2012-95,

Class

HI

j

7,334

513,200

3.000%, 

11/25/2027,

Ser.

2012-121,

Class

BI

j

20,485

286,566

3.000%, 

12/25/2027,

Ser.

2012-139,

Class

DI

j

10,506

127,877

2.500%, 

1/25/2028,

Ser.

2012-152,

Class

AI

j

4,416

378,826

3.000%, 

1/25/2028,

Ser.

2012-147,

Class

EI

j

12,481

460,520

3.000%, 

3/25/2028,

Ser.

2013-18,

Class

IL

j

14,333

257,402

2.500%, 

6/25/2028,

Ser.

2013-87,

Class

IW

j

9,893

243,686

3.000%, 

11/25/2031,

Ser.

2013-69,

Class

IO

j

6,641

270,700

3.000%, 

2/25/2033,

Ser.

2013-1,

Class

YI

j

23,132

225,982

4.500%, 

1/25/2046,

Ser.

2022-68,

Class

BA

218,436

First

Horizon

Alternative

Mortgage

Securities

Trust

30,101

6.038%, 

7/25/2035,

Ser.

2005-AA5,

Class

2A1

b

27,114

Flagstar

Mortgage

Trust

282,906

3.000%, 

3/25/2050,

Ser.

2020-1INV,

Class

A3

b,f

231,831

541,454

2.500%, 

8/25/2051,

Ser.

2021-6INV,

Class

A4

b,f

408,565

230,654

2.500%, 

9/25/2041,

Ser.

2021-9INV,

Class

A1

b,f

191,468

GCAT

Trust

387,463

5.730%, 

8/25/2067,

Ser.

2022-NQM4,

Class

A3

f,g

375,305

Genworth

Mortgage

Insurance

Corporation

120,545

7.215%, 

(SOFR30A

+

1.900%),

2/25/2034,

Ser.

2021-3,

Class

M1A

b,f

120,705

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

336

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Collateralized

Mortgage

Obligations

(7.3%)

-

continued

GMAC

Mortgage

Corporation

Loan

Trust

$

28,758

3.530%, 

5/25/2035,

Ser.

2005-AR2,

Class

4A

b

$

23,280

1,730

4.136%, 

9/19/2035,

Ser.

2005-AR5,

Class

5A1

b

1,609

GS

Mortgage-Backed

Securities

Trust

241,658

5.500%, 

10/27/2053,

Ser.

2023-PJ3,

Class

A16

b,f

233,380

Home

RE,

Ltd.

200,000

8.815%, 

(SOFR30A

+

3.500%),

10/25/2034,

Ser.

2022-1,

Class

M1B

b,f

203,859

IndyMac

IMJA

Mortgage

Loan

Trust

81,350

6.250%, 

11/25/2037,

Ser.

2007-A3,

Class

A1

35,522

IndyMac

INDA

Mortgage

Loan

Trust

500,372

3.803%, 

8/25/2036,

Ser.

2006-AR1,

Class

A1

b

400,347

J.P.

Morgan

Mortgage

Trust

208,299

2.774%, 

5/25/2052,

Ser.

2021-LTV2,

Class

A2

b,f

162,002

369,521

5.000%, 

10/25/2053,

Ser.

2023-3,

Class

A4A

b,f

351,189

36,712

6.500%, 

1/25/2035,

Ser.

2005-S1,

Class

1A2

35,998

33,798

5.134%, 

7/25/2035,

Ser.

2007-A1,

Class

2A1

b

31,549

LHOME

Mortgage

Trust

500,000

2.363%, 

9/25/2026,

Ser.

2021-RTL3,

Class

A1

f,g

484,986

MASTR

Alternative

Loans

Trust

33,792

5.000%, 

3/25/2055,

Ser.

2004-10,

Class

3A1

26,038

Merrill

Lynch

Alternative

Note

Asset

Trust

165,917

6.000%, 

3/25/2037,

Ser.

2007-F1,

Class

2A1

62,960

MortgageIT

Trust

504,372

5.894%, 

(TSFR1M

+

0.574%),

6/25/2047,

Ser.

2007-1,

Class

1A1

b

404,329

Onslow

Bay

Mortgage

Loan

Trust

307,875

5.700%, 

8/25/2062,

Ser.

2022-NQM7,

Class

A3

f,g

298,806

PRKCM

Trust

94,892

7.087%, 

6/25/2058,

Ser.

2023-AFC2,

Class

A3

f

94,314

Residential

Accredit

Loans,

Inc.

Trust

125,768

6.000%, 

8/25/2035,

Ser.

2005-QS10,

Class

2A

103,805

53,089

6.000%, 

1/25/2037,

Ser.

2007-QS1,

Class

1A1

39,770

59,715

6.250%, 

4/25/2037,

Ser.

2007-QS6,

Class

A6

46,670

ROC

Securities

Trust

Series

600,000

2.487%, 

8/25/2026,

Ser.

2021-RTL1,

Class

A1

b,f

583,802

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Collateralized

Mortgage

Obligations

(7.3%)

-

continued

Verus

Securitization

Trust

$

380,200

2.137%, 

10/25/2066,

Ser.

2021-7,

Class

A2

b,f

$

305,833

227,931

2.491%, 

11/25/2066,

Ser.

2021-8,

Class

A3

b,f

184,742

270,210

6.560%, 

12/25/2067,

Ser.

2023-1,

Class

A2

f,g

268,019

199,728

2.226%, 

5/25/2060,

Ser.

2020-2,

Class

A1

b,f

194,852

Washington

Mutual

Mortgage

Pass-Through

Certificates

90,628

6.000%, 

3/25/2035,

Ser.

2005-1,

Class

2A

72,178

Total

12,036,372

Commercial

Mortgage-Backed

Securities

(0.9%)

BANK

2022-BNK39

3,986,750

0.533%, 

2/15/2055,

Ser.

2022-BNK39,

Class

XA

b,j

106,878

BANK5

2023-5YR1

200,000

6.625%, 

4/15/2056,

Ser.

2023-5YR1,

Class

AS

b

197,158

BBCMS

Mortgage

Trust

1,622,661

0.839%, 

2/15/2055,

Ser.

2022-C14,

Class

XA

b,j

64,477

1,995,757

1.325%, 

9/15/2055,

Ser.

2022-C17,

Class

XA

b,j

150,556

BFLD

Trust

325,000

7.147%, 

(TSFR1M

+

1.814%),

10/15/2035,

Ser.

2020-EYP,

Class

B

b,f

191,348

Federal

Home

Loan

Mortgage

Corporation

Multifamily

Structured

Pass

Through

Certificates

250,000

4.200%, 

5/25/2033,

Ser.

K-157,

Class

A2

h

229,934

MSWF

Commercial

Mortgage

Trust

375,000

5.752%, 

5/15/2033,

Ser.

2023-1,

Class

A5

369,351

SCOTT

Trust

200,000

5.910%, 

3/15/2040,

Ser.

2023-SFS,

Class

A

f

193,859

Total

1,503,561

Communications

Services

(4.6%)

Allen

Media,

LLC/Allen

Media

Co-

Issuer,

Inc.

123,000

10.500%, 

2/15/2028

f

70,352

Altice

Financing

SA

60,000

5.750%, 

8/15/2029

f

49,172

Altice

France

SA/France

45,000

8.125%, 

2/1/2027

f

39,906

176,000

5.125%, 

7/15/2029

f

125,119

119,000

5.500%, 

10/15/2029

f

85,575

AMC

Networks,

Inc.

60,000

5.000%, 

4/1/2024

59,171

183,000

4.250%, 

2/15/2029

112,288

American

Tower

Corporation

84,000

4.400%, 

2/15/2026

81,328

41,000

1.450%, 

9/15/2026

36,133

68,000

5.500%, 

3/15/2028

66,714

35,000

5.800%, 

11/15/2028

34,737

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

337

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Communications

Services

(4.6%)

-

continued

$

63,000

3.800%, 

8/15/2029

$

56,039

AT&T,

Inc.

123,000

4.300%, 

2/15/2030

112,004

37,000

5.400%, 

2/15/2034

34,628

Bell

Telephone

Company

of

Canada

43,000

5.100%, 

5/11/2033

40,197

Cable

One,

Inc.,

Convertible

94,000

1.125%, 

3/15/2028

69,936

CCO

Holdings,

LLC/CCO

Holdings

Capital

Corporation

37,000

5.500%, 

5/1/2026

f

35,739

190,000

5.125%, 

5/1/2027

f

177,026

136,000

6.375%, 

9/1/2029

f

126,815

269,000

4.750%, 

3/1/2030

f

225,812

203,000

4.750%, 

2/1/2032

f

162,400

133,000

4.250%, 

1/15/2034

f

97,925

Cengage

Learning,

Inc.

6,000

9.500%, 

6/15/2024

f

6,005

CenterPoint

Energy,

Inc.,

Convertible

2,060

3.369%, 

9/15/2029

83,080

Charter

Communications

Operating,

LLC/Charter

Communications

Operating

Capital

Corporation

59,000

4.908%, 

7/23/2025

57,652

63,000

5.050%, 

3/30/2029

58,889

Cimpress

plc

89,000

7.000%, 

6/15/2026

83,296

Clear

Channel

Outdoor

Holdings,

Inc.

27,000

7.500%, 

6/1/2029

f,i

20,645

Clear

Channel

Worldwide

Holdings,

Inc.

211,000

5.125%, 

8/15/2027

f

187,366

Comcast

Corporation

50,000

2.350%, 

1/15/2027

45,286

105,000

3.400%, 

4/1/2030

92,617

Connect

Finco

SARL/Connect

US

Finco,

LLC

73,000

6.750%, 

10/1/2026

f

68,087

Crown

Castle,

Inc.

71,000

2.900%, 

3/15/2027

64,398

CSC

Holdings,

LLC

149,000

5.375%, 

2/1/2028

f

121,303

150,000

6.500%, 

2/1/2029

f

124,265

150,000

4.125%, 

12/1/2030

f

106,157

Deutsche

Telekom

International

Finance

BV

144,000

8.750%, 

6/15/2030

164,944

DIRECTV

Financing,

LLC/DIRECTV

Financing

Co-Obligor,

Inc.

227,000

5.875%, 

8/15/2027

f

200,709

DISH

DBS

Corporation

50,000

5.875%, 

11/15/2024

46,539

65,000

5.250%, 

12/1/2026

f

55,240

53,000

7.375%, 

7/1/2028

33,395

38,000

5.750%, 

12/1/2028

f

29,212

77,000

5.125%, 

6/1/2029

42,687

DISH

Network

Corporation

64,000

11.750%, 

11/15/2027

f

64,478

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Communications

Services

(4.6%)

-

continued

Frontier

Communications

Holdings,

LLC

$

157,000

5.875%, 

10/15/2027

f

$

142,787

58,000

6.750%, 

5/1/2029

f,i

44,624

38,000

8.750%, 

5/15/2030

f

36,080

GCI,

LLC

119,000

4.750%, 

10/15/2028

f

102,637

Gray

Escrow

II,

Inc.

200,000

5.375%, 

11/15/2031

f

130,887

Gray

Television,

Inc.

115,000

4.750%, 

10/15/2030

f

76,184

Hughes

Satellite

Systems

Corporation

60,000

6.625%, 

8/1/2026

51,300

Iliad

Holding

SASU

179,000

6.500%, 

10/15/2026

f

168,173

Lamar

Media

Corporation

78,000

3.625%, 

1/15/2031

63,520

LCPR

Senior

Secured

Financing

DAC

103,000

6.750%, 

10/15/2027

f

94,606

Level

3

Financing,

Inc.

107,000

4.625%, 

9/15/2027

f

76,951

168,000

4.250%, 

7/1/2028

f

104,670

69,000

10.500%, 

5/15/2030

f

69,455

McGraw-Hill

Education,

Inc.

99,000

5.750%, 

8/1/2028

f

85,412

10,000

8.000%, 

8/1/2029

f

8,675

Meta

Platforms,

Inc.

42,000

4.600%, 

5/15/2028

41,085

44,000

4.800%, 

5/15/2030

42,858

News

Corporation

137,000

3.875%, 

5/15/2029

f

117,820

NTT

Finance

Corporation

51,000

1.162%, 

4/3/2026

f

45,777

Outfront

Media

Capital,

LLC/

Outfront

Media

Capital

Corporation

65,000

6.250%, 

6/15/2025

f

63,682

54,000

4.625%, 

3/15/2030

f,i

42,450

Paramount

Global

85,000

6.375%, 

3/30/2062

b

66,760

41,000

4.750%, 

5/15/2025

39,878

Playtika

Holding

Corporation

129,000

4.250%, 

3/15/2029

f

107,715

Radiate

Holdco,

LLC/Radiate

Finance,

Inc.

65,000

6.500%, 

9/15/2028

f

34,125

Rogers

Communications,

Inc.

50,000

5.250%, 

3/15/2082

b,f

44,214

Scripps

Escrow

II,

Inc.

56,000

3.875%, 

1/15/2029

f

42,114

Sirius

XM

Radio,

Inc.

68,000

5.000%, 

8/1/2027

f

62,111

165,000

4.000%, 

7/15/2028

f

140,839

30,000

4.125%, 

7/1/2030

f

24,018

Sprint

Capital

Corporation

83,000

6.875%, 

11/15/2028

85,697

65,000

8.750%, 

3/15/2032

75,195

TEGNA,

Inc.

183,000

4.625%, 

3/15/2028

158,295

Telecom

Italia

Capital

SA

43,000

6.000%, 

9/30/2034

35,853

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

338

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Communications

Services

(4.6%)

-

continued

Telecom

Italia

SPA/Milano

$

59,000

5.303%, 

5/30/2024

f

$

58,008

Telesat

Canada/Telesat,

LLC

70,000

4.875%, 

6/1/2027

f

45,361

25,000

6.500%, 

10/15/2027

f

12,750

T-Mobile

USA,

Inc.

50,000

3.500%, 

4/15/2025

48,245

70,000

3.375%, 

4/15/2029

61,568

United

States

Cellular

Corporation

125,000

6.700%, 

12/15/2033

121,563

Uniti

Group,

LP/Uniti

Group

Finance,

Inc./CSL

Capital,

LLC

186,000

4.750%, 

4/15/2028

f

151,884

Univision

Communications,

Inc.

138,000

6.625%, 

6/1/2027

f

128,523

Verizon

Communications,

Inc.

84,000

2.100%, 

3/22/2028

72,151

132,000

3.150%, 

3/22/2030

112,667

106,000

2.550%, 

3/21/2031

84,401

94,000

2.355%, 

3/15/2032

71,718

Vodafone

Group

plc

48,000

7.000%, 

4/4/2079

b

47,674

VTR

Finance

NV

80,000

6.375%, 

7/15/2028

f

29,859

VZ

Secured

Financing

BV

122,000

5.000%, 

1/15/2032

f

95,838

Walt

Disney

Company

42,000

3.800%, 

3/22/2030

38,097

Warnermedia

Holdings,

Inc.

47,000

3.638%, 

3/15/2025

45,331

141,000

4.054%, 

3/15/2029

125,626

YPSO

Finance

BIS

SA

62,000

10.500%, 

5/15/2027

f

38,668

Total

7,571,645

Consumer

Cyclical

(6.3%)

1011778

B.C.,

ULC/New

Red

Finance,

Inc.

205,000

4.375%, 

1/15/2028

f

184,776

Adient

Global

Holdings,

Ltd.

78,000

4.875%, 

8/15/2026

f

73,565

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation

60,000

6.625%, 

7/15/2026

f

56,852

109,000

6.000%, 

6/1/2029

f

81,258

Allied

Universal

Holdco,

LLC/Allied

Universal

Finance

Corporation/

Atlas

Luxco

4

SARL

190,000

4.625%, 

6/1/2028

f

158,338

Allison

Transmission,

Inc.

78,000

3.750%, 

1/30/2031

f

63,055

Amazon.com,

Inc.

42,000

1.500%, 

6/3/2030

33,250

86,000

4.700%, 

12/1/2032

82,110

American

Axle

&

Manufacturing,

Inc.

196,000

6.500%, 

4/1/2027

186,088

American

Honda

Finance

Corporation

46,000

4.600%, 

4/17/2030

43,634

Arko

Corporation

88,000

5.125%, 

11/15/2029

f

70,976

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Consumer

Cyclical

(6.3%)

-

continued

Ashton

Woods

USA,

LLC/Ashton

Woods

Finance

Company

$

80,000

4.625%, 

8/1/2029

f

$

67,509

63,000

4.625%, 

4/1/2030

f

51,571

Best

Buy

Company,

Inc.

42,000

1.950%, 

10/1/2030

32,748

Bloomin'

Brands,

Inc.,

Convertible

2,000

5.000%, 

5/1/2025

4,379

Booking

Holdings,

Inc.,

Convertible

29,000

0.750%, 

5/1/2025

48,430

Boyd

Gaming

Corporation

105,000

4.750%, 

6/15/2031

f

89,352

Boyne

USA,

Inc.

52,000

4.750%, 

5/15/2029

f

45,482

Brookfield

Residential

Properties,

Inc./Brookfield

Residential

US,

LLC

77,000

6.250%, 

9/15/2027

f

69,325

Burlington

Stores,

Inc.,

Convertible

50,000

2.250%, 

4/15/2025

48,470

Caesars

Entertainment,

Inc.

159,000

6.250%, 

7/1/2025

f

156,824

55,000

8.125%, 

7/1/2027

f

55,262

136,000

4.625%, 

10/15/2029

f

115,200

Carnival

Corporation

97,000

7.625%, 

3/1/2026

f

94,360

211,000

5.750%, 

3/1/2027

f

191,002

56,000

4.000%, 

8/1/2028

f

48,556

Cedar

Fair,

LP

139,000

5.250%, 

7/15/2029

120,805

Churchill

Downs,

Inc.

75,000

4.750%, 

1/15/2028

f

67,653

57,000

6.750%, 

5/1/2031

f

53,865

Cinemark

USA,

Inc.

160,000

5.875%, 

3/15/2026

f,i

153,619

Clarios

Global,

LP/Clarios

US

Finance

Company,

Inc.

55,000

8.500%, 

5/15/2027

f,i

54,842

141,000

6.750%, 

5/15/2028

f

137,651

Cracker

Barrel

Old

Country

Store,

Inc.,

Convertible

3,000

0.625%, 

6/15/2026

2,477

D.R.

Horton,

Inc.

21,000

2.600%, 

10/15/2025

19,650

Expedia

Group,

Inc.

73,000

3.250%, 

2/15/2030

61,744

Expedia

Group,

Inc.,

Convertible

99,000

Zero

Coupon, 

2/15/2026

86,011

Ford

Motor

Company

222,000

3.250%, 

2/12/2032

171,087

127,000

6.100%, 

8/19/2032

i

119,623

Ford

Motor

Company,

Convertible

113,000

Zero

Coupon, 

3/15/2026

111,023

Ford

Motor

Credit

Company,

LLC

160,000

2.300%, 

2/10/2025

150,075

220,000

4.134%, 

8/4/2025

208,578

303,000

2.700%, 

8/10/2026

270,387

80,000

2.900%, 

2/10/2029

65,656

Forestar

Group,

Inc.

97,000

3.850%, 

5/15/2026

f

88,046

General

Motors

Company

63,000

6.800%, 

10/1/2027

64,292

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

339

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Consumer

Cyclical

(6.3%)

-

continued

General

Motors

Financial

Company,

Inc.

$

80,000

3.950%, 

4/13/2024

$

78,929

38,000

1.200%, 

10/15/2024

36,117

145,000

2.900%, 

2/26/2025

138,339

41,000

2.750%, 

6/20/2025

38,597

20,000

5.800%, 

6/23/2028

19,538

44,000

5.700%, 

9/30/2030

b,k

37,603

Goodyear

Tire

&

Rubber

Company

70,000

5.000%, 

7/15/2029

60,292

Guitar

Center

Escrow

Issuer

II,

Inc.

41,000

8.500%, 

1/15/2026

f,i

35,609

Hanesbrands,

Inc.

118,000

4.875%, 

5/15/2026

f,i

108,178

Hilton

Domestic

Operating

Company,

Inc.

162,000

4.875%, 

1/15/2030

147,433

57,000

3.625%, 

2/15/2032

f

45,953

Hilton

Grand

Vacations

Borrower

Escrow,

LLC/Hilton

Grand

Vacations

Borrower

Escrow,

Inc.

91,000

5.000%, 

6/1/2029

f

78,938

Home

Depot,

Inc.

68,000

3.250%, 

4/15/2032

58,341

Hyatt

Hotels

Corporation

37,000

5.750%, 

1/30/2027

36,763

Hyundai

Capital

America

33,000

5.500%, 

3/30/2026

f

32,567

63,000

3.000%, 

2/10/2027

f

57,078

40,000

2.100%, 

9/15/2028

f

33,189

International

Game

Technology

plc

182,000

5.250%, 

1/15/2029

f

167,715

Jacobs

Entertainment,

Inc.

83,000

6.750%, 

2/15/2029

f

73,663

Jaguar

Land

Rover

Automotive

plc

150,000

5.500%, 

7/15/2029

f

128,249

KB

Home

100,000

4.800%, 

11/15/2029

88,000

Kohl's

Corporation

39,000

4.625%, 

5/1/2031

26,210

L

Brands,

Inc.

209,000

6.625%, 

10/1/2030

f

195,940

30,000

6.875%, 

11/1/2035

26,793

Lennar

Corporation

41,000

4.750%, 

5/30/2025

40,110

Light

&

Wonder

International,

Inc.

125,000

7.250%, 

11/15/2029

f

122,500

Live

Nation

Entertainment,

Inc.,

Convertible

61,000

2.000%, 

2/15/2025

62,126

78,000

3.125%, 

1/15/2029

f

80,886

Lowe's

Companies,

Inc.

98,000

4.500%, 

4/15/2030

91,445

Macy's

Retail

Holdings,

LLC

120,000

5.875%, 

4/1/2029

f,i

105,071

Marriott

International,

Inc./MD

46,000

4.900%, 

4/15/2029

43,859

62,000

4.625%, 

6/15/2030

57,112

Marriott

Vacations

Worldwide

Corporation,

Convertible

47,000

Zero

Coupon, 

1/15/2026

41,149

48,000

3.250%, 

12/15/2027

f

41,880

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Consumer

Cyclical

(6.3%)

-

continued

Mattamy

Group

Corporation

$

115,000

5.250%, 

12/15/2027

f

$

104,953

McDonald's

Corporation

40,000

4.950%, 

8/14/2033

38,155

Mercedes-Benz

Finance

North

America,

LLC

63,000

1.450%, 

3/2/2026

f

57,118

36,000

5.200%, 

8/3/2026

f

35,636

Michaels

Companies,

Inc.

100,000

5.250%, 

5/1/2028

f,i

79,810

NCL

Corporation,

Ltd.

52,000

3.625%, 

12/15/2024

f

49,936

39,000

5.875%, 

3/15/2026

f

36,006

80,000

5.875%, 

2/15/2027

f

76,077

Nissan

Motor

Company,

Ltd.

50,000

3.522%, 

9/17/2025

f

47,223

51,000

4.345%, 

9/17/2027

f

46,553

64,000

4.810%, 

9/17/2030

f

55,200

Nordstrom,

Inc.

46,000

4.375%, 

4/1/2030

35,388

64,000

4.250%, 

8/1/2031

i

46,414

O'Reilly

Automotive,

Inc.

63,000

3.900%, 

6/1/2029

58,005

PENN

Entertainment,

Inc.

170,000

4.125%, 

7/1/2029

f,i

138,921

PetSmart,

Inc./PetSmart

Finance

Corporation

195,000

4.750%, 

2/15/2028

f

170,710

68,000

7.750%, 

2/15/2029

f

63,368

Prime

Security

Services

Borrower,

LLC/Prime

Finance,

Inc.

178,000

5.750%, 

4/15/2026

f

172,690

108,000

6.250%, 

1/15/2028

f,i

100,026

Realogy

Group,

LLC/Realogy

Group

Co-Issuer

Corporation

165,000

5.750%, 

1/15/2029

f

119,287

Royal

Caribbean

Cruises,

Ltd.

21,000

11.500%, 

6/1/2025

f

22,168

202,000

4.250%, 

7/1/2026

f

185,212

81,000

9.250%, 

1/15/2029

f

85,571

46,000

7.250%, 

1/15/2030

f

45,590

SeaWorld

Parks

and

Entertainment,

Inc.

86,000

5.250%, 

8/15/2029

f

75,542

Six

Flags

Theme

Parks,

Inc.

38,000

7.000%, 

7/1/2025

f

37,904

Staples,

Inc.

118,000

7.500%, 

4/15/2026

f

97,037

79,000

10.750%, 

4/15/2027

f

46,377

Station

Casinos,

LLC

107,000

4.625%, 

12/1/2031

f

85,588

Tapestry,

Inc.

45,000

3.050%, 

3/15/2032

32,966

Target

Corporation

88,000

2.350%, 

2/15/2030

73,544

Tenneco,

Inc.

89,000

8.000%, 

11/17/2028

f

72,424

Toyota

Motor

Credit

Corporation

42,000

4.700%, 

1/12/2033

39,688

Tractor

Supply

Company

44,000

5.250%, 

5/15/2033

41,547

Tripadvisor,

Inc.

30,000

7.000%, 

7/15/2025

f

29,943

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

340

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Consumer

Cyclical

(6.3%)

-

continued

Uber

Technologies,

Inc.

$

135,000

6.250%, 

1/15/2028

f

$

132,012

Uber

Technologies,

Inc.,

Convertible

78,000

Zero

Coupon, 

12/15/2025

72,767

Vail

Resorts,

Inc.,

Convertible

82,000

Zero

Coupon, 

1/1/2026

72,160

VICI

Properties,

LP/VICI

Note

Company,

Inc.

202,000

5.750%, 

2/1/2027

f

195,550

73,000

3.750%, 

2/15/2027

f

66,241

Viking

Cruises,

Ltd.

185,000

5.875%, 

9/15/2027

f

168,850

Volkswagen

Group

of

America

Finance,

LLC

99,000

4.250%, 

11/13/2023

f

98,792

21,000

3.350%, 

5/13/2025

f

20,124

Wabash

National

Corporation

141,000

4.500%, 

10/15/2028

f

118,773

Walmart,

Inc.

67,000

4.000%, 

4/15/2030

62,926

Wyndham

Hotels

&

Resorts,

Inc.

60,000

4.375%, 

8/15/2028

f

53,891

Yum!

Brands,

Inc.

140,000

4.750%, 

1/15/2030

f

125,751

ZF

North

America

Capital,

Inc.

77,000

7.125%, 

4/14/2030

f

75,443

Total

10,361,485

Consumer

Non-Cyclical

(5.3%)

1375209

B.C.,

Ltd.

107,000

9.000%, 

1/30/2028

f

105,767

Abbott

Laboratories

151,000

1.400%, 

6/30/2030

119,973

AbbVie,

Inc.

268,000

3.600%, 

5/14/2025

259,009

AdaptHealth,

LLC

72,000

4.625%, 

8/1/2029

f

55,260

Albertsons

Companies,

Inc./

Safeway,

Inc./New

Albertsons,

LP/Albertsons,

LLC

184,000

4.625%, 

1/15/2027

f

173,736

138,000

3.500%, 

3/15/2029

f

117,657

Amgen,

Inc.

62,000

5.150%, 

3/2/2028

60,977

107,000

5.250%, 

3/2/2030

104,538

Anheuser-Busch

InBev

Worldwide,

Inc.

90,000

4.000%, 

4/13/2028

85,166

84,000

4.750%, 

1/23/2029

81,443

Archer-Daniels-Midland

Company

43,000

4.500%, 

8/15/2033

39,969

AstraZeneca

Finance,

LLC

98,000

1.750%, 

5/28/2028

83,884

B&G

Foods,

Inc.

96,000

5.250%, 

4/1/2025

94,207

59,000

5.250%, 

9/15/2027

49,411

66,000

8.000%, 

9/15/2028

f

66,090

BAT

Capital

Corporation

40,000

6.343%, 

8/2/2030

39,399

43,000

7.750%, 

10/19/2032

45,420

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Consumer

Non-Cyclical

(5.3%)

-

continued

Bausch

&

Lomb

Escrow

Corporation

$

25,000

8.375%, 

10/1/2028

f

$

25,074

Bausch

Health

Companies,

Inc.

55,000

5.500%, 

11/1/2025

f,i

48,709

120,000

4.875%, 

6/1/2028

f

68,242

106,000

11.000%, 

9/30/2028

f

71,916

Becton,

Dickinson

and

Company

48,000

4.693%, 

2/13/2028

46,535

63,000

2.823%, 

5/20/2030

53,040

BellRing

Brands,

Inc.

80,000

7.000%, 

3/15/2030

f

78,773

BioMarin

Pharmaceutical,

Inc.,

Convertible

68,000

1.250%, 

5/15/2027

i

67,361

Bio-Rad

Laboratories,

Inc.

70,000

3.300%, 

3/15/2027

64,514

Cargill,

Inc.

88,000

2.125%, 

11/10/2031

f

68,535

Catalent

Pharma

Solutions,

Inc.

90,000

3.125%, 

2/15/2029

f,i

73,818

Central

Garden

&

Pet

Company

145,000

4.125%, 

10/15/2030

120,889

Cheplapharm

Arzneimittel

GmbH

20,000

5.500%, 

1/15/2028

f

18,147

Chobani,

LLC/Chobani

Finance

Corporation,

Inc.

150,000

4.625%, 

11/15/2028

f

132,297

CHS/Community

Health

Systems,

Inc.

98,000

5.625%, 

3/15/2027

f

84,056

36,000

8.000%, 

12/15/2027

f

33,570

132,000

6.000%, 

1/15/2029

f

106,601

49,000

5.250%, 

5/15/2030

f

37,249

57,000

4.750%, 

2/15/2031

f

40,340

Cigna

Group

58,000

2.400%, 

3/15/2030

47,625

Constellation

Brands,

Inc.

84,000

3.150%, 

8/1/2029

73,595

28,000

4.900%, 

5/1/2033

25,987

Coty,

Inc./HFC

Prestige

Products,

Inc./HFC

Prestige

International

US,

LLC

174,000

4.750%, 

1/15/2029

f

156,908

24,000

6.625%, 

7/15/2030

f

23,432

CVS

Health

Corporation

47,000

5.000%, 

2/20/2026

46,270

33,000

4.300%, 

3/25/2028

31,232

47,000

5.125%, 

2/21/2030

45,206

37,000

5.300%, 

6/1/2033

35,045

Diageo

Capital

plc

39,000

2.000%, 

4/29/2030

31,639

Edgewell

Personal

Care

Company

80,000

5.500%, 

6/1/2028

f

73,900

Eli

Lilly

&

Company

87,000

4.700%, 

2/27/2033

83,752

Embecta

Corporation

48,000

6.750%, 

2/15/2030

f

39,240

Encompass

Health

Corporation

180,000

4.500%, 

2/1/2028

164,001

Energizer

Holdings,

Inc.

25,000

4.750%, 

6/15/2028

f

21,592

130,000

4.375%, 

3/31/2029

f

108,491

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

341

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Consumer

Non-Cyclical

(5.3%)

-

continued

Envista

Holdings

Corporation,

Convertible

$

10,000

1.750%, 

8/15/2028

$

9,210

Fortrea

Holdings,

Inc.

36,000

7.500%, 

7/1/2030

f

35,029

General

Mills,

Inc.

18,000

4.950%, 

3/29/2033

16,866

Gilead

Sciences,

Inc.

30,000

5.250%, 

10/15/2033

29,262

Grifols

SA

125,000

4.750%, 

10/15/2028

f

106,576

HLF

Financing

SARL,

LLC/

Herbalife

International,

Inc.

196,000

4.875%, 

6/1/2029

f

139,160

Imperial

Brands

Finance

plc

34,000

3.125%, 

7/26/2024

f

33,133

Integer

Holdings

Corporation,

Convertible

69,000

2.125%, 

2/15/2028

f

74,968

Jazz

Investments

I,

Ltd.,

Convertible

83,000

2.000%, 

6/15/2026

84,504

Jazz

Securities

DAC

78,000

4.375%, 

1/15/2029

f

68,007

JBS

USA

LUX

SA/JBS

USA

Food

Company/JBS

Luxembourg

SARL

35,000

6.750%, 

3/15/2034

f

34,055

JBS

USA

LUX

SA/JBS

USA

Food

Company/JBS

USA

Finance,

Inc.

114,000

2.500%, 

1/15/2027

100,698

49,000

3.625%, 

1/15/2032

39,014

Kenvue,

Inc.

23,000

5.000%, 

3/22/2030

f

22,409

Keurig

Dr.

Pepper,

Inc.

72,000

3.200%, 

5/1/2030

62,091

Kraft

Heinz

Foods

Company

96,000

3.875%, 

5/15/2027

90,439

45,000

6.750%, 

3/15/2032

47,522

Kroger

Company

42,000

4.500%, 

1/15/2029

39,897

Lamb

Weston

Holdings,

Inc.

82,000

4.125%, 

1/31/2030

f

70,122

Legacy

LifePoint

Health,

LLC

53,000

4.375%, 

2/15/2027

f

45,580

LifePoint

Health,

Inc.

50,000

11.000%, 

10/15/2030

f

50,000

Mattel,

Inc.

137,000

3.375%, 

4/1/2026

f

126,684

McKesson

Corporation

41,000

0.900%, 

12/3/2025

37,040

134,000

1.300%, 

8/15/2026

119,242

Medtronic

Global

Holdings

SCA

45,000

4.500%, 

3/30/2033

41,920

ModivCare

Escrow

Issuer,

Inc.

45,000

5.000%, 

10/1/2029

f

32,288

ModivCare,

Inc.

36,000

5.875%, 

11/15/2025

f

34,220

Mozart

Debt

Merger

Sub,

Inc.

122,000

3.875%, 

4/1/2029

f

103,142

96,000

5.250%, 

10/1/2029

f,i

82,972

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Consumer

Non-Cyclical

(5.3%)

-

continued

Mylan,

Inc.

$

34,000

4.200%, 

11/29/2023

$

33,893

Nestle

Holdings,

Inc.

88,000

4.950%, 

3/14/2030

f

86,448

Newell

Brands,

Inc.

111,000

4.700%, 

4/1/2026

104,606

Organon

&

Company/Organon

Foreign

Debt

Co-Issuer

BV

128,000

4.125%, 

4/30/2028

f

111,220

74,000

5.125%, 

4/30/2031

f

59,300

Owens

&

Minor,

Inc.

121,000

6.625%, 

4/1/2030

f,i

107,398

Perrigo

Finance

Unlimited

Company

130,000

4.375%, 

3/15/2026

121,553

Pfizer

Investment

Enterprises

Pte,

Ltd.

57,000

4.450%, 

5/19/2026

55,684

39,000

4.750%, 

5/19/2033

36,866

Philip

Morris

International,

Inc.

131,000

4.875%, 

2/13/2026

128,849

88,000

4.875%, 

2/15/2028

85,252

43,000

5.625%, 

11/17/2029

42,512

43,000

5.750%, 

11/17/2032

41,956

Post

Holdings,

Inc.

119,000

4.500%, 

9/15/2031

f

99,043

Post

Holdings,

Inc.,

Convertible

45,000

2.500%, 

8/15/2027

44,618

Primo

Water

Holdings,

Inc.

119,000

4.375%, 

4/30/2029

f

101,745

Procter

&

Gamble

Company

42,000

1.200%, 

10/29/2030

32,509

RegionalCare

Hospital

Partners

Holdings,

Inc./LifePoint

Health,

Inc.

53,000

9.750%, 

12/1/2026

f

51,310

Roche

Holdings,

Inc.

39,000

1.930%, 

12/13/2028

f

33,301

68,000

2.076%, 

12/13/2031

f

53,658

Royalty

Pharma

plc

97,000

1.200%, 

9/2/2025

88,149

Scotts

Miracle-Gro

Company

50,000

4.500%, 

10/15/2029

40,876

SEG

Holding,

LLC

195,000

5.625%, 

10/15/2028

f

195,488

Simmons

Foods,

Inc.

103,000

4.625%, 

3/1/2029

f

84,493

Spectrum

Brands,

Inc.

95,000

5.000%, 

10/1/2029

f

86,080

60,000

5.500%, 

7/15/2030

f

54,402

Star

Parent,

Inc.

82,000

9.000%, 

10/1/2030

f

82,861

Stryker

Corporation

85,000

3.650%, 

3/7/2028

79,301

Sysco

Corporation

42,000

5.950%, 

4/1/2030

42,348

Takeda

Pharmaceutical

Company,

Ltd.

75,000

5.000%, 

11/26/2028

73,399

Tenet

Healthcare

Corporation

435,000

5.125%, 

11/1/2027

404,826

55,000

6.125%, 

10/1/2028

51,631

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

342

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Consumer

Non-Cyclical

(5.3%)

-

continued

Teva

Pharmaceutical

Finance

Netherlands

III

BV

$

97,000

3.150%, 

10/1/2026

$

86,453

Topgolf

Callaway

Brands

Corporation,

Convertible

17,000

2.750%, 

5/1/2026

17,637

TreeHouse

Foods,

Inc.

123,000

4.000%, 

9/1/2028

i

99,784

Winnebago

Industries,

Inc.,

Convertible

37,000

1.500%, 

4/1/2025

41,366

Wyeth,

LLC

106,000

6.500%, 

2/1/2034

114,001

Zoetis,

Inc.

56,000

5.600%, 

11/16/2032

55,745

Total

8,736,098

Energy

(4.6%)

Antero

Midstream

Partners,

LP/

Antero

Midstream

Finance

Corporation

32,000

5.375%, 

6/15/2029

f

29,299

Antero

Resources

Corporation

48,000

5.375%, 

3/1/2030

f

44,192

Archrock

Partners,

LP/Archrock

Partners

Finance

Corporation

167,000

6.250%, 

4/1/2028

f

155,481

Baytex

Energy

Corporation

90,000

8.500%, 

4/30/2030

f

91,064

BP

Capital

Markets

America,

Inc.

169,000

4.234%, 

11/6/2028

160,696

61,000

4.812%, 

2/13/2033

57,089

BP

Capital

Markets

plc

74,000

4.875%, 

3/22/2030

b,k

66,113

Buckeye

Partners,

LP

130,000

3.950%, 

12/1/2026

116,739

Callon

Petroleum

Company

63,000

7.500%, 

6/15/2030

f

61,083

Cheniere

Energy

Partners,

LP

42,000

4.500%, 

10/1/2029

38,030

41,000

3.250%, 

1/31/2032

32,587

52,000

5.950%, 

6/30/2033

f

50,152

Chesapeake

Energy

Corporation

69,000

6.750%, 

4/15/2029

f

67,524

Chord

Energy

Corporation

68,000

6.375%, 

6/1/2026

f

66,675

Civitas

Resources,

Inc.

41,000

8.375%, 

7/1/2028

f

41,718

56,000

8.750%, 

7/1/2031

f

57,202

CNX

Resources

Corporation

53,000

6.000%, 

1/15/2029

f

49,525

CNX

Resources

Corporation,

Convertible

59,000

2.250%, 

5/1/2026

106,672

Columbia

Pipelines

Holding

Company,

LLC

34,000

6.055%, 

8/15/2026

f

34,107

77,000

6.042%, 

8/15/2028

f

76,610

Comstock

Resources,

Inc.

62,000

6.750%, 

3/1/2029

f

57,033

26,000

5.875%, 

1/15/2030

f

22,506

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Energy

(4.6%)

-

continued

CQP

Holdco,

LP/BIP-V

Chinnok

Holdco,

LLC

$

113,000

5.500%, 

6/15/2031

f

$

100,157

Crescent

Energy

Finance,

LLC

99,000

9.250%, 

2/15/2028

f

101,074

CrownRock,

LP/CrownRock

Finance,

Inc.

82,000

5.625%, 

10/15/2025

f

80,684

Diamond

Foreign

Asset

Company/

Diamond

Finance,

LLC

33,000

8.500%, 

10/1/2030

f

33,005

Diamondback

Energy,

Inc.

111,000

3.125%, 

3/24/2031

92,461

DT

Midstream,

Inc.

67,000

4.125%, 

6/15/2029

f

57,958

35,000

4.375%, 

6/15/2031

f

29,432

Enbridge,

Inc.

50,000

7.375%, 

1/15/2083

b

47,548

50,000

7.625%, 

1/15/2083

b

47,743

42,000

3.700%, 

7/15/2027

39,044

22,000

5.700%, 

3/8/2033

21,076

Enerflex,

Ltd.

78,000

9.000%, 

10/15/2027

f

77,025

Energy

Transfer,

LP

50,000

6.750%, 

5/15/2025

b,k

46,208

63,000

3.750%, 

5/15/2030

54,879

EnLink

Midstream

Partners,

LP

135,000

4.850%, 

7/15/2026

127,097

Enterprise

Products

Operating,

LLC

42,000

4.150%, 

10/16/2028

39,376

53,000

8.619%, 

(TSFR3M

+

3.248%),

8/16/2077

b

52,356

EQM

Midstream

Partners,

LP

248,000

4.750%, 

1/15/2031

f

213,463

EQT

Corporation,

Convertible

33,000

1.750%, 

5/1/2026

91,595

Ferrellgas,

LP/Ferrellgas

Finance

Corporation

102,000

5.375%, 

4/1/2026

f

95,604

Genesis

Energy

LP/Genesis

Energy

Finance

Corporation

132,000

8.875%, 

4/15/2030

128,883

Harvest

Midstream,

LP

170,000

7.500%, 

9/1/2028

f

164,327

Hess

Midstream

Operations,

LP

80,000

5.625%, 

2/15/2026

f

77,300

Hilcorp

Energy

I,

LP/Hilcorp

Finance

Company

115,000

5.750%, 

2/1/2029

f

103,844

111,000

6.250%, 

4/15/2032

f

98,696

Howard

Midstream

Energy

Partners,

LLC

152,000

6.750%, 

1/15/2027

f

144,400

ITT

Holdings,

LLC

132,000

6.500%, 

8/1/2029

f

111,886

Laredo

Petroleum,

Inc.

156,000

7.750%, 

7/31/2029

f

145,131

Marathon

Oil

Corporation

42,000

4.400%, 

7/15/2027

39,504

MEG

Energy

Corporation

118,000

5.875%, 

2/1/2029

f

110,197

MPLX,

LP

105,000

1.750%, 

3/1/2026

95,209

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

343

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Energy

(4.6%)

-

continued

$

21,000

5.000%, 

3/1/2033

$

19,136

Murphy

Oil

Corporation

97,000

5.875%, 

12/1/2027

94,129

Nabors

Industries,

Ltd.

160,000

7.250%, 

1/15/2026

f

154,600

National

Fuel

Gas

Company

92,000

5.500%, 

1/15/2026

90,479

Noble

Finance

II,

LLC

95,000

8.000%, 

4/15/2030

f

96,242

Northern

Oil

and

Gas,

Inc.

92,000

8.750%, 

6/15/2031

f

92,690

Northern

Oil

and

Gas,

Inc.,

Convertible

48,000

3.625%, 

4/15/2029

f

59,294

Northriver

Midstream

Finance,

LP

47,000

5.625%, 

2/15/2026

f

44,789

NuStar

Logistics,

LP

72,000

5.750%, 

10/1/2025

70,020

Occidental

Petroleum

Corporation

64,000

6.375%, 

9/1/2028

64,477

ONEOK,

Inc.

63,000

2.200%, 

9/15/2025

58,622

33,000

5.550%, 

11/1/2026

32,785

42,000

5.650%, 

11/1/2028

41,456

Ovintiv,

Inc.

25,000

5.650%, 

5/15/2025

24,857

15,000

5.650%, 

5/15/2028

14,672

33,000

6.250%, 

7/15/2033

31,908

PBF

Holding

Company,

LLC/PBF

Finance

Corporation

65,000

6.000%, 

2/15/2028

61,306

Permian

Resources

Operating,

LLC

74,000

7.000%, 

1/15/2032

f

72,980

Permian

Resources

Operating,

LLC,

Convertible

18,000

3.250%, 

4/1/2028

42,491

Phillips

66

Company

66,000

4.950%, 

12/1/2027

64,678

Pioneer

Natural

Resources

Company

63,000

1.900%, 

8/15/2030

49,427

Pioneer

Natural

Resources

Company,

Convertible

39,000

0.250%, 

5/15/2025

95,527

Plains

All

American

Pipeline,

LP

2,000

9.736%, 

(TSFR3M

+

4.372%),

11/2/2023

b,k

1,887

Plains

All

American

Pipeline,

LP/

PAA

Finance

Corporation

103,000

4.650%, 

10/15/2025

100,006

Precision

Drilling

Corporation

117,000

6.875%, 

1/15/2029

f

110,823

Range

Resources

Corporation

73,000

4.750%, 

2/15/2030

f

64,788

Rockcliff

Energy

II,

LLC

96,000

5.500%, 

10/15/2029

f

86,397

Rockies

Express

Pipeline,

LLC

24,000

4.950%, 

7/15/2029

f

21,377

Schlumberger

Holdings

Corporation

27,000

4.300%, 

5/1/2029

f

25,319

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Energy

(4.6%)

-

continued

SM

Energy

Company

$

43,000

6.625%, 

1/15/2027

$

42,140

55,000

6.500%, 

7/15/2028

52,800

Southwestern

Energy

Company

66,000

5.375%, 

3/15/2030

60,129

71,000

4.750%, 

2/1/2032

60,938

Suburban

Propane

Partners,

LP/

Suburban

Energy

Finance

Corporation

17,000

5.875%, 

3/1/2027

16,235

Suncor

Energy,

Inc.

43,000

7.150%, 

2/1/2032

45,232

Sunoco,

LP/Sunoco

Finance

Corporation

65,000

5.875%, 

3/15/2028

62,355

95,000

4.500%, 

4/30/2030

82,267

Tallgrass

Energy

Partners

LP/

Tallgrass

Energy

Finance

Corporation

154,000

5.500%, 

1/15/2028

f

140,140

Targa

Resources

Partners,

LP

115,000

4.875%, 

2/1/2031

103,000

Teine

Energy,

Ltd.

95,000

6.875%, 

4/15/2029

f

87,163

TransCanada

Trust

90,000

5.875%, 

8/15/2076

b

82,061

Transocean,

Inc.

97,000

11.500%, 

1/30/2027

f

101,729

USA

Compression

Partners,

LP/

USA

Compression

Finance

Corporation

139,000

6.875%, 

4/1/2026

136,157

Valaris,

Ltd.

89,000

8.375%, 

4/30/2030

f

89,067

Venture

Global

Calcasieu

Pass,

LLC

184,000

3.875%, 

8/15/2029

f

154,832

62,000

6.250%, 

1/15/2030

f

59,140

70,000

4.125%, 

8/15/2031

f

57,443

Weatherford

International,

Ltd.

141,000

8.625%, 

4/30/2030

f

142,079

Williams

Companies,

Inc.

42,000

2.600%, 

3/15/2031

33,451

Total

7,544,779

Financials

(12.4%)

Acrisure,

LLC/Acrisure

Finance,

Inc.

28,000

6.000%, 

8/1/2029

f

23,530

AerCap

Holdings

NV

50,000

5.875%, 

10/10/2079

b

48,624

AerCap

Ireland

Capital

DAC/

AerCap

Global

Aviation

Trust

70,000

3.150%, 

2/15/2024

69,201

63,000

6.500%, 

7/15/2025

63,073

108,000

3.000%, 

10/29/2028

92,608

Air

Lease

Corporation

40,000

2.300%, 

2/1/2025

37,890

11,000

3.375%, 

7/1/2025

10,450

53,000

4.650%, 

6/15/2026

b,k

46,674

52,000

3.125%, 

12/1/2030

42,342

Aircastle,

Ltd.

81,000

5.250%, 

6/15/2026

b,f,k

63,694

51,000

2.850%, 

1/26/2028

f

43,273

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

344

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Financials

(12.4%)

-

continued

Alliant

Holdings

Intermediate,

LLC/

Alliant

Holdings

Co-Issuer,

Inc.

$

70,000

6.750%, 

10/15/2027

f

$

65,101

Ally

Financial,

Inc.

62,000

5.750%, 

11/20/2025

60,224

96,000

4.700%, 

5/15/2026

b,k

65,879

42,000

8.000%, 

11/1/2031

42,405

25,000

6.700%, 

2/14/2033

21,702

American

Express

Company

59,000

3.950%, 

8/1/2025

57,075

50,000

3.550%, 

9/15/2026

b,k

39,699

89,000

2.550%, 

3/4/2027

80,244

American

Homes

4

Rent,

LP

50,000

2.375%, 

7/15/2031

38,121

American

International

Group,

Inc.

76,000

5.125%, 

3/27/2033

70,715

AmWINS

Group,

Inc.

87,000

4.875%, 

6/30/2029

f

76,232

Arbor

Realty

Trust,

Inc.,

Convertible

27,000

7.500%, 

8/1/2025

f

27,152

Ares

Capital

Corporation

21,000

4.250%, 

3/1/2025

20,195

90,000

2.150%, 

7/15/2026

78,962

Ares

Capital

Corporation,

Convertible

37,000

4.625%, 

3/1/2024

37,532

Assurant,

Inc.

67,000

6.100%, 

2/27/2026

66,662

Australia

&

New

Zealand

Banking

Group,

Ltd.

96,000

2.950%, 

7/22/2030

b,f

89,116

Aviation

Capital

Group,

LLC

41,000

4.875%, 

10/1/2025

f

39,394

Avolon

Holdings

Funding,

Ltd.

96,000

4.250%, 

4/15/2026

f

90,230

BAC

Capital

Trust

XIV

42,000

6.071%, 

(TSFR3M

+

0.662%),

10/18/2023

b,k

32,466

Banco

Santander

Mexico

SA

26,000

5.375%, 

4/17/2025

f

25,554

Banco

Santander

SA

29,000

4.750%, 

11/12/2026

b,k

21,514

Bank

of

America

Corporation

213,000

6.250%, 

9/5/2024

b,i,k

209,556

36,000

3.458%, 

3/15/2025

b

35,519

44,000

6.100%, 

3/17/2025

b,k

43,086

102,000

1.319%, 

6/19/2026

b

93,542

163,000

1.197%, 

10/24/2026

b

147,399

65,000

6.125%, 

4/27/2027

b,k

62,278

61,000

1.734%, 

7/22/2027

b

54,056

89,000

4.376%, 

4/27/2028

b

84,039

126,000

3.593%, 

7/21/2028

b

115,065

59,000

4.948%, 

7/22/2028

b

56,691

60,000

5.819%, 

9/15/2029

b

59,264

202,000

3.974%, 

2/7/2030

b

181,416

149,000

2.687%, 

4/22/2032

b

117,105

62,000

2.572%, 

10/20/2032

b

47,640

92,000

2.972%, 

2/4/2033

b

72,547

45,000

3.846%, 

3/8/2037

b

36,601

Bank

of

Montreal

35,000

5.920%, 

9/25/2025

34,923

68,000

5.203%, 

2/1/2028

66,374

46,000

3.088%, 

1/10/2037

b

34,278

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Financials

(12.4%)

-

continued

Bank

of

New

York

Mellon

Corporation

$

59,000

4.596%, 

7/26/2030

b

$

55,534

Bank

of

Nova

Scotia

64,000

5.250%, 

12/6/2024

63,411

86,000

4.900%, 

6/4/2025

b,k

78,657

41,000

1.050%, 

3/2/2026

36,593

Barclays

plc

41,000

4.375%, 

9/11/2024

40,173

49,000

2.852%, 

5/7/2026

b

46,224

50,000

5.501%, 

8/9/2028

b

48,044

64,000

4.972%, 

5/16/2029

b

59,788

54,000

6.224%, 

5/9/2034

b

51,154

35,000

7.119%, 

6/27/2034

b

33,710

Berkshire

Hathaway

Finance

Corporation

124,000

2.875%, 

3/15/2032

103,993

Blackstone

Mortgage

Trust,

Inc.,

Convertible

14,000

5.500%, 

3/15/2027

12,451

Blue

Owl

Capital

Corporation

41,000

4.250%, 

1/15/2026

38,357

Blue

Owl

Credit

Income

Corporation

68,000

4.700%, 

2/8/2027

61,878

Blue

Owl

Technology

Finance

Corporation

20,000

4.750%, 

12/15/2025

f

18,499

63,000

3.750%, 

6/17/2026

f

55,911

BNP

Paribas

SA

58,000

2.819%, 

11/19/2025

b,f

55,705

66,000

3.132%, 

1/20/2033

b,f

51,855

BPCE

SA

40,000

2.375%, 

1/14/2025

f

37,903

Bread

Financial

Holdings,

Inc.,

Convertible

11,000

4.250%, 

6/15/2028

f

11,859

Brixmor

Operating

Partnership,

LP

83,000

2.250%, 

4/1/2028

69,893

Brookfield

Property

REIT,

Inc./BPR

Cumulus,

LLC/BPR

Nimbus,

LLC/GGSI

Sellco,

LLC

28,000

4.500%, 

4/1/2027

f

23,334

Canadian

Imperial

Bank

of

Commerce

59,000

3.945%, 

8/4/2025

56,961

30,000

5.926%, 

10/2/2026

e

29,993

Capital

One

Financial

Corporation

24,000

3.950%, 

9/1/2026

b,k

18,014

69,000

3.273%, 

3/1/2030

b

57,718

Capital

One

NA

60,000

2.280%, 

1/28/2026

b

56,663

Castlelake

Aviation

Finance

DAC

43,000

5.000%, 

4/15/2027

f

39,274

Centene

Corporation

178,000

3.000%, 

10/15/2030

143,577

Charles

Schwab

Corporation

96,000

5.375%, 

6/1/2025

b,k

92,230

90,000

0.900%, 

3/11/2026

79,779

46,000

4.000%, 

6/1/2026

b,k

38,419

30,000

5.875%, 

8/24/2026

29,901

25,000

5.000%, 

6/1/2027

b,k

20,893

63,000

2.000%, 

3/20/2028

53,163

105,000

4.000%, 

12/1/2030

b,k

74,085

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

345

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Financials

(12.4%)

-

continued

$

41,000

6.136%, 

8/24/2034

b

$

39,883

Citigroup,

Inc.

48,000

9.699%, 

(TSFR3M

+

4.330%),

10/30/2023

b,k

47,908

34,000

5.000%, 

9/12/2024

b,k

32,153

105,000

3.352%, 

4/24/2025

b

103,127

100,000

5.500%, 

9/13/2025

98,793

33,000

4.000%, 

12/10/2025

b,k

28,867

90,000

3.875%, 

2/18/2026

b,k

76,801

45,000

4.150%, 

11/15/2026

b,k

36,017

148,000

1.122%, 

1/28/2027

b

131,885

83,000

1.462%, 

6/9/2027

b

73,366

98,000

3.070%, 

2/24/2028

b

88,896

26,000

7.375%, 

5/15/2028

b,i,k

25,228

52,000

7.625%, 

11/15/2028

b,k

50,731

168,000

4.075%, 

4/23/2029

b

154,617

41,000

6.174%, 

5/25/2034

b

39,181

Citizens

Financial

Group,

Inc.

48,000

4.000%, 

10/6/2026

b,k

35,575

CNA

Financial

Corporation

36,000

3.950%, 

5/15/2024

35,528

Coinbase

Global,

Inc.,

Convertible

105,000

0.500%, 

6/1/2026

78,813

Comerica,

Inc.

22,000

5.625%, 

7/1/2025

b,i,k

20,158

Commonwealth

Bank

of

Australia

51,000

2.688%, 

3/11/2031

f

38,803

Cooperatieve

Rabobank

UA

41,000

1.339%, 

6/24/2026

b,f

37,727

Corebridge

Financial,

Inc.

38,000

6.875%, 

12/15/2052

b

36,404

35,000

6.050%, 

9/15/2033

f

34,017

Corporate

Office

Properties,

LP

82,000

2.250%, 

3/15/2026

73,825

Corporate

Office

Properties,

LP,

Convertible

9,000

5.250%, 

9/15/2028

f

9,013

Credit

Acceptance

Corporation

184,000

5.125%, 

12/31/2024

f

179,211

Credit

Agricole

SA

44,000

8.125%, 

12/23/2025

b,f,k

43,681

42,000

3.250%, 

1/14/2030

f

35,053

Credit

Suisse

Group

AG

54,000

7.500%, 

12/11/2023

*,b,k,l

5,130

24,000

7.250%, 

9/12/2025

b,f,k,l

2,280

Dai-ichi

Life

Insurance

Company,

Ltd.

75,000

5.100%, 

10/28/2024

b,f,k

73,533

Deutsche

Bank

AG/New

York,

NY

143,000

2.129%, 

11/24/2026

b

129,322

90,000

2.311%, 

11/16/2027

b

78,371

68,000

3.742%, 

1/7/2033

b

48,796

Discover

Bank

84,000

5.974%, 

(USISOA05

+

1.730%),

8/9/2028

b

76,863

Discover

Financial

Services

22,000

6.700%, 

11/29/2032

21,266

Drawbridge

Special

Opportunities

Fund,

LP

170,000

3.875%, 

2/15/2026

f

151,252

Elevance

Health,

Inc.

62,000

5.350%, 

10/15/2025

61,609

133,000

2.550%, 

3/15/2031

107,779

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Financials

(12.4%)

-

continued

Enact

Holdings,

Inc.

$

78,000

6.500%, 

8/15/2025

f

$

76,823

Encore

Capital

Group,

Inc.,

Convertible

32,000

4.000%, 

3/15/2029

f

30,654

Extra

Space

Storage,

LP

41,000

2.400%, 

10/15/2031

31,388

Fifth

Third

Bancorp

40,000

4.500%, 

9/30/2025

b,k

35,823

40,000

4.772%, 

7/28/2030

b

36,312

Fifth

Third

Bank

NA

111,000

3.850%, 

3/15/2026

102,671

First

Horizon

Bank

62,000

5.750%, 

5/1/2030

55,495

First-Citizens

Bank

&

Trust

Company

95,000

6.125%, 

3/9/2028

94,359

Fortress

Transportation

and

Infrastructure

Investors,

LLC

57,000

6.500%, 

10/1/2025

f

56,022

51,000

9.750%, 

8/1/2027

f

52,751

7,000

5.500%, 

5/1/2028

f

6,346

Freedom

Mortgage

Corporation

33,000

12.000%, 

10/1/2028

f

33,556

FS

KKR

Capital

Corporation

41,000

3.400%, 

1/15/2026

37,572

42,000

2.625%, 

1/15/2027

35,966

Global

Net

Lease,

Inc./Global

Net

Lease

Operating

Partnership,

LP

155,000

3.750%, 

12/15/2027

f

120,008

Goldman

Sachs

Group,

Inc.

36,000

5.500%, 

8/10/2024

b,i,k

35,090

44,000

3.500%, 

4/1/2025

42,366

61,000

4.250%, 

10/21/2025

58,784

62,000

0.855%, 

2/12/2026

b

57,457

75,000

3.650%, 

8/10/2026

b,k

60,456

45,000

4.125%, 

11/10/2026

b,k

36,807

135,000

1.948%, 

10/21/2027

b

119,199

45,000

2.640%, 

2/24/2028

b

40,127

132,000

3.615%, 

3/15/2028

b

121,793

86,000

4.482%, 

8/23/2028

b

81,400

84,000

3.814%, 

4/23/2029

b

76,275

42,000

3.800%, 

3/15/2030

37,061

42,000

2.615%, 

4/22/2032

b

32,805

42,000

2.383%, 

7/21/2032

b

31,987

Hartford

Financial

Services

Group,

Inc.

42,000

2.800%, 

8/19/2029

36,027

64,000

7.751%, 

(TSFR3M

+

2.387%),

2/12/2047

b,f

54,407

HAT

Holdings

I,

LLC/HAT

Holdings

II,

LLC,

Convertible

3,000

Zero

Coupon, 

5/1/2025

f

2,895

27,000

3.750%, 

8/15/2028

f

26,241

HSBC

Holdings

plc

49,000

3.803%, 

3/11/2025

b

48,396

24,000

6.375%, 

3/30/2025

b,k

23,055

49,000

2.633%, 

11/7/2025

b

46,952

37,000

1.645%, 

4/18/2026

b

34,389

49,000

1.589%, 

5/24/2027

b

43,206

106,000

2.251%, 

11/22/2027

b

93,569

118,000

4.583%, 

6/19/2029

b

109,095

81,000

4.600%, 

12/17/2030

b,k

61,211

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

346

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Financials

(12.4%)

-

continued

$

50,000

2.804%, 

5/24/2032

b

$

38,727

HUB

International,

Ltd.

146,000

5.625%, 

12/1/2029

f

127,131

Huntington

Bancshares,

Inc.

66,000

4.450%, 

10/15/2027

b,k

53,386

Icahn

Enterprises,

LP/Icahn

Enterprises

Finance

Corporation

83,000

6.375%, 

12/15/2025

78,955

92,000

5.250%, 

5/15/2027

80,866

ING

Groep

NV

84,000

1.726%, 

4/1/2027

b

75,154

Intercontinental

Exchange,

Inc.

67,000

4.350%, 

6/15/2029

63,025

Invitation

Homes

Operating

Partnership,

LP

72,000

2.000%, 

8/15/2031

53,283

J.P.

Morgan

Chase

&

Company

44,000

8.934%, 

(TSFR3M

+

3.562%),

11/1/2023

b,i,k

44,149

109,000

5.000%, 

8/1/2024

b,k

105,356

66,000

4.600%, 

2/1/2025

b,k

61,742

117,000

1.561%, 

12/10/2025

b

110,575

44,000

2.083%, 

4/22/2026

b

41,299

50,000

3.650%, 

6/1/2026

b,k

43,642

129,000

1.045%, 

11/19/2026

b

115,933

84,000

1.578%, 

4/22/2027

b

74,964

105,000

2.947%, 

2/24/2028

b

95,251

126,000

4.005%, 

4/23/2029

b

116,118

41,000

2.069%, 

6/1/2029

b

34,547

168,000

4.493%, 

3/24/2031

b

153,824

45,000

2.963%, 

1/25/2033

b

35,826

39,000

4.912%, 

7/25/2033

b

35,882

42,000

5.717%, 

9/14/2033

b

40,374

30,000

5.350%, 

6/1/2034

b

28,448

Jefferies

Finance,

LLC/JFIN

Co-

Issuer

Corporation

39,000

5.000%, 

8/15/2028

f

32,838

KeyBank

NA/Cleveland,

OH

63,000

3.900%, 

4/13/2029

51,068

82,000

5.000%, 

1/26/2033

69,025

Kilroy

Realty,

LP

55,000

4.250%, 

8/15/2029

47,119

Lincoln

National

Corporation

40,000

7.996%, 

(LIBOR

3M

+

2.358%),

11/17/2023

b

27,828

Lloyds

Banking

Group

plc

124,000

1.627%, 

5/11/2027

b

109,979

LPL

Holdings,

Inc.

90,000

4.000%, 

3/15/2029

f

78,468

M&T

Bank

Corporation

106,000

3.500%, 

9/1/2026

b,k

74,543

Macquarie

Group,

Ltd.

83,000

1.629%, 

9/23/2027

b,f

72,509

Manufacturers

&

Traders

Trust

Company

87,000

4.700%, 

1/27/2028

80,349

Marsh

&

McLennan

Companies,

Inc.

45,000

2.375%, 

12/15/2031

35,383

MetLife,

Inc.

54,000

3.850%, 

9/15/2025

b,k

49,955

39,000

5.875%, 

3/15/2028

b,k

36,631

50,000

6.400%, 

12/15/2036

48,856

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Financials

(12.4%)

-

continued

Metropolitan

Life

Global

Funding

I

$

68,000

2.950%, 

4/9/2030

f

$

57,624

Mid-America

Apartments,

LP

84,000

4.200%, 

6/15/2028

78,919

Mitsubishi

UFJ

Financial

Group,

Inc.

49,000

1.412%, 

7/17/2025

45,204

81,000

1.538%, 

7/20/2027

b

71,744

Mizuho

Financial

Group,

Inc.

111,000

1.554%, 

7/9/2027

b

98,148

84,000

2.564%, 

9/13/2031

63,573

39,000

5.748%, 

7/6/2034

b

37,228

Molina

Healthcare,

Inc.

100,000

4.375%, 

6/15/2028

f

89,605

Morgan

Stanley

41,000

5.816%, 

(SOFRRATE

+

0.466%),

11/10/2023

b

41,000

36,000

2.720%, 

7/22/2025

b

34,937

82,000

1.164%, 

10/21/2025

b

77,405

29,000

5.000%, 

11/24/2025

28,424

115,000

2.630%, 

2/18/2026

b

109,460

61,000

0.985%, 

12/10/2026

b

54,421

84,000

1.593%, 

5/4/2027

b

74,767

82,000

1.512%, 

7/20/2027

b

72,454

30,000

5.123%, 

2/1/2029

b

28,890

201,000

3.622%, 

4/1/2031

b

173,156

45,000

2.943%, 

1/21/2033

b

35,438

40,000

4.889%, 

7/20/2033

b

36,345

43,000

5.250%, 

4/21/2034

b

39,925

85,000

2.484%, 

9/16/2036

b

61,743

MPT

Operating

Partnership,

LP/

MPT

Finance

Corporation

16,000

5.250%, 

8/1/2026

13,627

75,000

4.625%, 

8/1/2029

53,120

Nasdaq,

Inc.

31,000

5.350%, 

6/28/2028

30,434

Nationstar

Mortgage

Holdings,

Inc.

104,000

6.000%, 

1/15/2027

f

98,272

NatWest

Group

plc

58,000

4.269%, 

3/22/2025

b

57,379

42,000

4.892%, 

5/18/2029

b

39,282

63,000

3.754%, 

11/1/2029

b

59,985

Necessity

Retail

REIT,

Inc./

American

Finance

Operating

Partner,

LP

113,000

4.500%, 

9/30/2028

f

85,833

New

York

Life

Global

Funding

44,000

4.550%, 

1/28/2033

f

40,337

NFP

Corporation

54,000

6.875%, 

8/15/2028

f

46,261

Nippon

Life

Insurance

Company

123,000

5.100%, 

10/16/2044

b,f

120,694

NNN

REIT,

Inc.

42,000

2.500%, 

4/15/2030

33,942

Nomura

Holdings,

Inc.

62,000

2.172%, 

7/14/2028

51,442

Northern

Trust

Corporation

63,000

4.000%, 

5/10/2027

59,594

Office

Properties

Income

Trust

41,000

2.650%, 

6/15/2026

27,891

Omega

Healthcare

Investors,

Inc.

43,000

4.750%, 

1/15/2028

39,794

42,000

3.375%, 

2/1/2031

32,835

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

347

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Financials

(12.4%)

-

continued

OneMain

Finance

Corporation

$

120,000

6.875%, 

3/15/2025

$

119,049

224,000

3.875%, 

9/15/2028

179,792

Park

Intermediate

Holdings,

LLC

153,000

4.875%, 

5/15/2029

f

129,430

Pebblebrook

Hotel

Trust,

Convertible

113,000

1.750%, 

12/15/2026

93,722

Pine

Street

Trust

I

42,000

4.572%, 

2/15/2029

f

37,793

PNC

Bank

NA

42,000

2.700%, 

10/22/2029

34,169

PNC

Financial

Services

Group,

Inc.

82,000

5.671%, 

10/28/2025

b

81,367

50,000

3.400%, 

9/15/2026

b,k

36,989

50,000

6.200%, 

9/15/2027

b,k

45,950

31,000

5.582%, 

6/12/2029

b

30,074

51,000

6.250%, 

3/15/2030

b,k

43,718

PRA

Group,

Inc.

80,000

7.375%, 

9/1/2025

f

77,900

66,000

8.375%, 

2/1/2028

f

60,060

Principal

Life

Global

Funding

II

62,000

1.250%, 

8/16/2026

f

54,262

Prologis,

LP

27,000

3.375%, 

12/15/2027

24,825

Provident

Financing

Trust

I

22,000

7.405%, 

3/15/2038

21,698

Prudential

Financial,

Inc.

45,000

5.125%, 

3/1/2052

b

38,751

38,000

6.750%, 

3/1/2053

b

36,742

129,000

5.200%, 

3/15/2044

b,i

126,211

22,000

3.700%, 

10/1/2050

b

17,892

Public

Storage

Operating

Company

31,000

5.100%, 

8/1/2033

29,633

QBE

Insurance

Group,

Ltd.

19,000

5.875%, 

5/12/2025

b,f,k

18,060

Radian

Group,

Inc.

97,000

4.875%, 

3/15/2027

90,634

Realty

Income

Corporation

41,000

4.875%, 

6/1/2026

40,235

63,000

3.950%, 

8/15/2027

59,069

72,000

5.625%, 

10/13/2032

69,606

Redwood

Trust,

Inc.,

Convertible

5,000

7.750%, 

6/15/2027

4,472

Regions

Financial

Corporation

45,000

2.250%, 

5/18/2025

41,978

44,000

5.750%, 

6/15/2025

b,i,k

41,747

Reinsurance

Group

of

America,

Inc.

35,000

6.000%, 

9/15/2033

33,770

RLJ

Lodging

Trust,

LP

49,000

3.750%, 

7/1/2026

f

44,315

102,000

4.000%, 

9/15/2029

f

83,532

Rocket

Mortgage,

LLC/Rocket

Mortgage

Co-Issuer,

Inc.

95,000

3.625%, 

3/1/2029

f

78,540

Royal

Bank

of

Canada

82,000

0.750%, 

10/7/2024

77,792

38,000

5.000%, 

2/1/2033

35,407

Santander

Holdings

USA,

Inc.

84,000

3.450%, 

6/2/2025

79,892

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Financials

(12.4%)

-

continued

$

47,000

2.490%, 

1/6/2028

b

$

40,809

45,000

6.499%, 

3/9/2029

b

43,887

Santander

UK

Group

Holdings

plc

81,000

1.673%, 

6/14/2027

b

70,851

Service

Properties

Trust

47,000

4.650%, 

3/15/2024

46,359

31,000

4.350%, 

10/1/2024

29,738

87,000

7.500%, 

9/15/2025

85,472

80,000

5.500%, 

12/15/2027

68,371

Simon

Property

Group,

LP

82,000

2.650%, 

7/15/2030

67,457

SLM

Corporation

50,000

4.200%, 

10/29/2025

46,785

Societe

Generale

SA

48,000

2.625%, 

10/16/2024

f

46,134

49,000

1.488%, 

12/14/2026

b,f

43,746

Spirit

Realty,

LP

68,000

3.200%, 

1/15/2027

61,603

Standard

Chartered

plc

49,000

0.991%, 

1/12/2025

b,f

48,189

25,000

6.000%, 

7/26/2025

b,f,i,k

23,742

66,000

2.608%, 

1/12/2028

b,f

58,426

Starwood

Property

Trust,

Inc.,

Convertible

44,000

6.750%, 

7/15/2027

45,078

State

Street

Corporation

31,000

5.272%, 

8/3/2026

30,709

42,000

4.421%, 

5/13/2033

b

37,679

Sumitomo

Life

Insurance

Company

85,000

3.375%, 

4/15/2081

b,f

70,642

Sumitomo

Mitsui

Financial

Group,

Inc.

48,000

2.448%, 

9/27/2024

46,357

66,000

2.174%, 

1/14/2027

58,702

63,000

2.142%, 

9/23/2030

48,641

59,000

5.766%, 

1/13/2033

57,662

Sumitomo

Mitsui

Trust

Bank,

Ltd.

41,000

1.050%, 

9/12/2025

f

37,347

Summit

Hotel

Properties,

Inc.,

Convertible

38,000

1.500%, 

2/15/2026

31,920

Synchrony

Financial

42,000

4.250%, 

8/15/2024

41,017

24,000

7.250%, 

2/2/2033

21,183

Synovus

Bank

43,000

5.625%, 

2/15/2028

38,961

Toronto-Dominion

Bank

35,000

8.125%, 

10/31/2082

b

34,820

46,000

5.156%, 

1/10/2028

44,896

53,000

5.523%, 

7/17/2028

52,313

42,000

4.456%, 

6/8/2032

37,664

Truist

Bank

42,000

2.250%, 

3/11/2030

32,149

Truist

Financial

Corporation

74,000

6.047%, 

6/8/2027

b

73,195

42,000

1.887%, 

6/7/2029

b

34,490

90,000

5.100%, 

3/1/2030

b,k

76,947

U.S.

Bancorp

62,000

5.727%, 

10/21/2026

b

61,484

59,000

4.548%, 

7/22/2028

b

55,419

15,000

5.836%, 

6/12/2034

b

14,147

UBS

Group

AG

39,000

2.593%, 

9/11/2025

b,f

37,537

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

348

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Financials

(12.4%)

-

continued

$

75,000

2.193%, 

6/5/2026

b,f

$

69,754

83,000

3.869%, 

1/12/2029

b,f

75,180

UDR,

Inc.

94,000

3.000%, 

8/15/2031

76,339

United

Wholesale

Mortgage,

LLC

31,000

5.500%, 

11/15/2025

f

29,487

78,000

5.500%, 

4/15/2029

f

65,910

UnitedHealth

Group,

Inc.

143,000

5.250%, 

2/15/2028

143,243

85,000

4.200%, 

5/15/2032

77,581

USB

Realty

Corporation

44,000

6.717%, 

(TSFR3M

+

1.409%),

1/15/2027

b,f,k

32,006

USI,

Inc./NY

40,000

6.875%, 

5/1/2025

f

39,692

Ventas

Realty,

LP

34,000

3.750%, 

5/1/2024

33,527

Ventas

Realty,

LP,

Convertible

62,000

3.750%, 

6/1/2026

f

60,419

Wells

Fargo

&

Company

80,000

2.406%, 

10/30/2025

b

76,664

65,000

3.900%, 

3/15/2026

b,k

56,768

106,000

2.188%, 

4/30/2026

b

99,527

50,000

6.070%, 

(TSFR3M

+

0.762%),

1/15/2027

b

47,393

46,000

3.526%, 

3/24/2028

b

42,245

99,000

3.584%, 

5/22/2028

b

90,634

59,000

4.808%, 

7/25/2028

b

56,302

49,000

7.625%, 

9/15/2028

b,k

49,400

230,000

4.478%, 

4/4/2031

b

208,667

30,000

5.389%, 

4/24/2034

b

28,047

Welltower

OP,

LLC

41,000

2.050%, 

1/15/2029

33,889

63,000

2.800%, 

6/1/2031

50,415

Welltower

OP,

LLC,

Convertible

92,000

2.750%, 

5/15/2028

f

93,889

Westpac

Banking

Corporation

63,000

4.110%, 

7/24/2034

b

54,407

Willis

North

America,

Inc.

84,000

4.500%, 

9/15/2028

78,773

XHR,

LP

49,000

6.375%, 

8/15/2025

f,i

48,108

56,000

4.875%, 

6/1/2029

f

47,600

Total

20,454,376

Foreign

Government

(<0.1%)

NBN

Company,

Ltd.

74,000

2.625%, 

5/5/2031

f

59,641

Total

59,641

Mortgage-Backed

Securities

(9.9%)

Federal

Home

Loan

Mortgage

Corporation

Conventional

30-Yr.

Pass

Through

915,179

2.500%, 

5/1/2051

730,360

669,066

3.500%, 

5/1/2052

576,154

412,964

4.000%, 

5/1/2052

370,628

1,414,335

3.500%, 

6/1/2052

1,218,817

297,037

5.000%, 

7/1/2053

281,176

250,000

5.500%, 

9/1/2053

242,563

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Mortgage-Backed

Securities

(9.9%)

-

continued

Federal

Home

Loan

Mortgage

Corporation

Gold

15-Yr.

Pass

Through

$

472,710

2.500%, 

7/1/2030

$

430,879

Federal

National

Mortgage

Association

Conventional

20-Yr.

Pass

Through

272,817

3.500%, 

5/1/2040

242,364

Federal

National

Mortgage

Association

Conventional

30-Yr.

Pass

Through

1,222,484

3.000%, 

1/1/2052

1,017,716

120,150

2.000%, 

2/1/2051

92,025

86,355

2.000%, 

2/1/2051

66,039

499,891

2.500%, 

2/1/2051

399,769

1,055,130

2.000%, 

3/1/2051

806,402

1,216,960

3.000%, 

3/1/2052

1,009,236

762,983

2.000%, 

4/1/2051

583,043

744,589

3.000%, 

4/1/2051

618,173

779,785

3.000%, 

5/1/2050

652,456

129,183

2.000%, 

5/1/2051

98,522

405,921

3.000%, 

5/1/2051

341,257

734,021

2.500%, 

7/1/2051

585,946

215,909

3.500%, 

8/1/2050

188,993

498,663

3.500%, 

9/1/2052

431,163

424,539

4.500%, 

9/1/2053

390,248

369,731

4.000%, 

10/1/2052

330,247

128,861

2.000%, 

11/1/2051

98,395

591,761

2.000%, 

12/1/2050

453,255

1,265,061

4.500%, 

12/1/2052

1,166,674

1,900,000

4.000%, 

10/1/2048

e

1,691,445

500,000

5.000%, 

10/1/2048

e

471,719

Federal

National

Mortgage

Association

Conventional

40-Yr.

Pass

Through

429,133

2.500%, 

3/1/2062

329,341

369,853

3.500%, 

7/1/2061

314,564

175,842

4.000%, 

12/1/2061

156,606

Total

16,386,175

Technology

(3.2%)

Advanced

Micro

Devices,

Inc.

42,000

3.924%, 

6/1/2032

37,748

Akamai

Technologies,

Inc.,

Convertible

40,000

0.125%, 

5/1/2025

47,176

56,000

0.375%, 

9/1/2027

58,324

41,000

1.125%, 

2/15/2029

f

41,348

Analog

Devices,

Inc.

20,000

2.100%, 

10/1/2031

15,793

Apple,

Inc.

125,000

2.200%, 

9/11/2029

107,242

90,000

1.650%, 

2/8/2031

71,295

AthenaHealth

Group,

Inc.

145,000

6.500%, 

2/15/2030

f,i

121,294

Block,

Inc.,

Convertible

16,000

0.125%, 

3/1/2025

14,848

64,000

0.250%, 

11/1/2027

48,040

Broadcom

Corporation/Broadcom

Cayman

Finance,

Ltd.

63,000

3.875%, 

1/15/2027

59,195

Broadcom,

Inc.

46,000

4.000%, 

4/15/2029

f

41,510

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

349

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Technology

(3.2%)

-

continued

Cloud

Software

Group,

Inc.

$

107,000

6.500%, 

3/31/2029

f

$

94,623

38,000

9.000%, 

9/30/2029

f

33,022

CommScope

Technologies,

LLC

48,000

6.000%, 

6/15/2025

f

45,694

CommScope,

Inc.

80,000

7.125%, 

7/1/2028

f

47,865

CSG

Systems

International,

Inc.,

Convertible

21,000

3.875%, 

9/15/2028

f

20,435

Dell

International,

LLC/EMC

Corporation

69,000

5.250%, 

2/1/2028

67,947

32,000

5.300%, 

10/1/2029

31,065

Euronet

Worldwide,

Inc.,

Convertible

28,000

0.750%, 

3/15/2049

25,725

Fiserv,

Inc.

68,000

2.750%, 

7/1/2024

66,363

99,000

4.200%, 

10/1/2028

92,830

22,000

5.600%, 

3/2/2033

21,322

Gartner,

Inc.

190,000

3.625%, 

6/15/2029

f

162,540

60,000

3.750%, 

10/1/2030

f

50,352

Global

Payments,

Inc.

17,000

2.650%, 

2/15/2025

16,197

65,000

4.950%, 

8/15/2027

62,469

42,000

3.200%, 

8/15/2029

35,718

II-VI,

Inc.

43,000

5.000%, 

12/15/2029

f,i

37,283

Intel

Corporation

88,000

5.125%, 

2/10/2030

86,353

InterDigital,

Inc.,

Convertible

80,000

3.500%, 

6/1/2027

94,152

Iron

Mountain,

Inc.

38,000

4.875%, 

9/15/2027

f

35,049

120,000

5.000%, 

7/15/2028

f

109,146

119,000

4.875%, 

9/15/2029

f

104,297

170,000

4.500%, 

2/15/2031

f

139,819

Jabil,

Inc.

43,000

5.450%, 

2/1/2029

41,815

Lumentum

Holdings,

Inc.,

Convertible

59,000

0.250%, 

3/15/2024

58,410

99,000

0.500%, 

6/15/2028

i

71,904

Marvell

Technology,

Inc.

42,000

2.950%, 

4/15/2031

33,979

Mastercard,

Inc.

46,000

2.000%, 

11/18/2031

36,084

Microchip

Technology,

Inc.,

Convertible

216,000

0.125%, 

11/15/2024

i

226,800

Moody's

Corporation

43,000

4.250%, 

8/8/2032

39,019

NCR

Corporation

145,000

5.125%, 

4/15/2029

f

127,754

144,000

6.125%, 

9/1/2029

f

147,676

NVIDIA

Corporation

21,000

2.850%, 

4/1/2030

18,321

NXP

BV/NXP

Funding,

LLC

44,000

4.875%, 

3/1/2024

43,780

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Technology

(3.2%)

-

continued

NXP

BV/NXP

Funding,

LLC/NXP

USA,

Inc.

$

21,000

2.700%, 

5/1/2025

$

19,944

42,000

4.300%, 

6/18/2029

38,476

ON

Semiconductor

Corporation,

Convertible

87,000

Zero

Coupon, 

5/1/2027

156,600

2,000

0.500%, 

3/1/2029

f

2,196

Open

Text

Corporation

81,000

3.875%, 

12/1/2029

f

66,583

175,000

4.125%, 

2/15/2030

f

146,405

Oracle

Corporation

43,000

6.150%, 

11/9/2029

43,652

142,000

2.950%, 

4/1/2030

119,491

63,000

6.250%, 

11/9/2032

63,778

PayPal

Holdings,

Inc.

42,000

2.850%, 

10/1/2029

36,409

59,000

2.300%, 

6/1/2030

48,217

Progress

Software

Corporation,

Convertible

28,000

1.000%, 

4/15/2026

28,812

PTC,

Inc.

65,000

3.625%, 

2/15/2025

f

62,467

85,000

4.000%, 

2/15/2028

f

76,181

Rackspace

Technology

Global,

Inc.

125,000

5.375%, 

12/1/2028

f

41,918

RingCentral,

Inc.

86,000

8.500%, 

8/15/2030

f

83,076

S&P

Global,

Inc.

46,000

2.900%, 

3/1/2032

37,859

Salesforce.com,

Inc.

116,000

1.950%, 

7/15/2031

91,866

Seagate

HDD

Cayman

54,000

8.500%, 

7/15/2031

f

55,392

146,655

9.625%, 

12/1/2032

f

158,027

Semtech

Corporation,

Convertible

31,000

1.625%, 

11/1/2027

f

28,969

Sensata

Technologies,

Inc.

113,000

3.750%, 

2/15/2031

f

91,454

Shift4

Payments,

LLC/Shift4

Payments

Finance

Sub,

Inc.

40,000

4.625%, 

11/1/2026

f

37,714

SS&C

Technologies,

Inc.

317,000

5.500%, 

9/30/2027

f

299,134

Verint

Systems,

Inc.,

Convertible

44,000

0.250%, 

4/15/2026

37,565

Viavi

Solutions,

Inc.

106,000

3.750%, 

10/1/2029

f

86,167

Viavi

Solutions,

Inc.,

Convertible

33,000

1.625%, 

3/15/2026

f

31,498

Vishay

Intertechnology,

Inc.,

Convertible

143,000

2.250%, 

9/15/2030

f

140,068

VMware,

Inc.

82,000

1.400%, 

8/15/2026

72,333

61,000

2.200%, 

8/15/2031

46,033

Xilinx,

Inc.

24,000

2.375%, 

6/1/2030

19,870

Ziff

Davis,

Inc.,

Convertible

74,000

1.750%, 

11/1/2026

68,043

Total

5,325,818

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

350

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Transportation

(1.3%)

Air

Transport

Services

Group,

Inc.,

Convertible

$

46,000

3.875%, 

8/15/2029

f

$

45,149

Allegiant

Travel

Company

89,000

7.250%, 

8/15/2027

f

83,771

American

Airlines

Group,

Inc.

33,000

3.750%, 

3/1/2025

f

31,262

American

Airlines,

Inc./

AAdvantage

Loyalty

IP,

Ltd.

283,250

5.500%, 

4/20/2026

f

276,640

Avis

Budget

Car

Rental,

LLC/Avis

Budget

Finance,

Inc.

52,000

5.375%, 

3/1/2029

f

46,216

Canadian

Pacific

Railway

Company

89,000

1.750%, 

12/2/2026

79,404

CSX

Corporation

42,000

4.250%, 

3/15/2029

39,781

Delta

Air

Lines,

Inc.

91,000

4.375%, 

4/19/2028

83,641

Delta

Air

Lines,

Inc./SkyMiles

IP,

Ltd.

71,306

4.500%, 

10/20/2025

f

69,259

ERAC

USA

Finance,

LLC

59,000

3.850%, 

11/15/2024

f

57,622

Hawaiian

Brand

Intellectual

Property,

Ltd.

125,000

5.750%, 

1/20/2026

f

112,482

Hertz

Corporation

92,000

4.625%, 

12/1/2026

f

81,535

110,000

5.000%, 

12/1/2029

f

86,121

JetBlue

Airways

Corporation,

Convertible

60,000

0.500%, 

4/1/2026

46,386

Mileage

Plus

Holdings,

LLC

94,500

6.500%, 

6/20/2027

f

93,631

Norfolk

Southern

Corporation

65,000

4.450%, 

3/1/2033

59,356

Penske

Truck

Leasing

Company,

LP/PTL

Finance

Corporation

41,000

1.200%, 

11/15/2025

f

36,881

31,000

5.750%, 

5/24/2026

f

30,544

42,000

1.700%, 

6/15/2026

f

37,234

Rand

Parent,

LLC

100,000

8.500%, 

2/15/2030

f

92,510

Ryder

System,

Inc.

51,000

2.850%, 

3/1/2027

46,407

Southwest

Airlines

Company

42,000

5.125%, 

6/15/2027

40,952

50,000

2.625%, 

2/10/2030

41,194

Southwest

Airlines

Company,

Convertible

105,000

1.250%, 

5/1/2025

104,212

Union

Pacific

Corporation

42,000

2.150%, 

2/5/2027

37,913

United

Airlines,

Inc.

112,000

4.375%, 

4/15/2026

f

103,577

96,000

4.625%, 

4/15/2029

f

82,515

VistaJet

Malta

Finance

plc/Vista

Management

Holding,

Inc.

27,000

7.875%, 

5/1/2027

f,i

23,254

127,000

6.375%, 

2/1/2030

f

98,089

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Transportation

(1.3%)

-

continued

XPO

Escrow

Sub,

LLC

$

118,000

7.500%, 

11/15/2027

f

$

119,303

Total

2,186,841

U.S.

Government

&

Agencies

(4.1%)

U.S.

Treasury

Bonds

500,000

4.000%, 

11/15/2052

443,164

2,225,000

3.375%, 

8/15/2042

1,802,771

U.S.

Treasury

Notes

300,000

4.125%, 

7/31/2028

293,531

500,000

4.125%, 

11/15/2032

482,227

4,100,000

3.375%, 

5/15/2033

3,718,188

Total

6,739,881

Utilities

(2.5%)

AEP

Texas,

Inc.

43,000

4.700%, 

5/15/2032

39,348

AES

Corporation

81,000

3.950%, 

7/15/2030

f

69,816

Algonquin

Power

&

Utilities

Corporation

30,000

4.750%, 

1/18/2082

b

24,450

Alliant

Energy

Corporation,

Convertible

41,000

3.875%, 

3/15/2026

f

39,606

Ameren

Corporation

52,000

1.750%, 

3/15/2028

44,073

American

Electric

Power

Company,

Inc.

67,000

2.031%, 

3/15/2024

65,748

42,000

2.300%, 

3/1/2030

33,748

22,000

5.625%, 

3/1/2033

21,288

American

Water

Capital

Corporation,

Convertible

54,000

3.625%, 

6/15/2026

f

52,045

Arizona

Public

Service

Company

37,000

5.550%, 

8/1/2033

35,867

Calpine

Corporation

101,000

4.500%, 

2/15/2028

f

91,024

CenterPoint

Energy,

Inc.

34,000

2.500%, 

9/1/2024

32,918

62,000

1.450%, 

6/1/2026

55,531

63,000

2.650%, 

6/1/2031

50,318

CenterPoint

Energy,

Inc.,

Convertible

22,000

4.250%, 

8/15/2026

f

21,461

CMS

Energy

Corporation,

Convertible

54,000

3.375%, 

5/1/2028

f,i

50,625

Constellation

Energy

Generation,

LLC

43,000

5.800%, 

3/1/2033

41,926

Dominion

Energy,

Inc.

34,000

3.071%, 

8/15/2024

33,099

70,000

4.350%, 

1/15/2027

b,k

60,439

52,000

3.375%, 

4/1/2030

44,732

DTE

Energy

Company

64,000

4.220%, 

11/1/2024

62,807

39,000

4.875%, 

6/1/2028

37,691

Duke

Energy

Corporation

50,000

3.250%, 

1/15/2082

b

36,837

24,000

4.875%, 

9/16/2024

b,k

23,359

107,000

2.450%, 

6/1/2030

86,882

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

351

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Utilities

(2.5%)

-

continued

$

43,000

4.500%, 

8/15/2032

$

38,681

35,000

5.750%, 

9/15/2033

34,385

Duke

Energy

Corporation,

Convertible

128,000

4.125%, 

4/15/2026

f

124,224

Edison

International

58,000

4.950%, 

4/15/2025

56,841

145,000

5.000%, 

12/15/2026

b,k

123,928

Enel

Finance

International

NV

81,000

1.375%, 

7/12/2026

f

71,531

Entergy

Corporation

41,000

0.900%, 

9/15/2025

37,225

42,000

1.900%, 

6/15/2028

35,471

Evergy,

Inc.

35,000

2.450%, 

9/15/2024

33,811

Eversource

Energy

73,000

4.600%, 

7/1/2027

70,211

43,000

5.125%, 

5/15/2033

39,995

Exelon

Corporation

42,000

4.050%, 

4/15/2030

37,800

Fells

Point

Funding

Trust

100,000

3.046%, 

1/31/2027

f

90,678

FirstEnergy

Corporation,

Convertible

78,000

4.000%, 

5/1/2026

f

75,075

Florida

Power

&

Light

Company

42,000

4.400%, 

5/15/2028

40,498

Georgia

Power

Company

27,000

4.950%, 

5/17/2033

25,308

ITC

Holdings

Corporation

42,000

4.950%, 

9/22/2027

f

40,921

Jersey

Central

Power

&

Light

Company

86,000

2.750%, 

3/1/2032

f

67,350

National

Rural

Utilities

Cooperative

Finance

Corporation

66,000

3.450%, 

6/15/2025

63,504

37,000

5.050%, 

9/15/2028

36,349

NextEra

Energy

Capital

Holdings,

Inc.

65,000

3.800%, 

3/15/2082

b

55,023

42,000

6.051%, 

3/1/2025

42,064

55,000

5.749%, 

9/1/2025

54,846

42,000

2.250%, 

6/1/2030

33,624

NextEra

Energy

Operating

Partners,

LP

195,000

3.875%, 

10/15/2026

f

176,556

NextEra

Energy

Partners,

LP,

Convertible

88,000

Zero

Coupon, 

11/15/2025

f

73,480

NiSource,

Inc.

42,000

2.950%, 

9/1/2029

36,199

NRG

Energy,

Inc.

53,000

2.000%, 

12/2/2025

f

47,962

39,000

10.250%, 

3/15/2028

b,f,k

38,197

38,000

3.375%, 

2/15/2029

f

30,757

60,000

5.250%, 

6/15/2029

f

52,965

NRG

Energy,

Inc.,

Convertible

92,000

2.750%, 

6/1/2048

97,336

PG&E

Corporation

130,000

5.000%, 

7/1/2028

i

117,751

PPL

Capital

Funding,

Inc.,

Convertible

66,000

2.875%, 

3/15/2028

f

60,060

Principal

Amount

Long-Term

Fixed

Income

(78.2%)

Value

Utilities

(2.5%)

-

continued

Public

Service

Enterprise

Group,

Inc.

$

42,000

1.600%, 

8/15/2030

$

32,222

Sempra

65,000

4.125%, 

4/1/2052

b

52,577

44,000

4.875%, 

10/15/2025

b,k

41,689

63,000

3.400%, 

2/1/2028

57,341

Southern

California

Edison

Company

21,000

5.950%, 

11/1/2032

20,944

Southern

Company

42,000

4.475%, 

8/1/2024

41,391

40,000

5.700%, 

10/15/2032

39,289

41,000

4.000%, 

1/15/2051

b

37,924

92,000

3.750%, 

9/15/2051

b

80,242

Southern

Company,

Convertible

127,000

3.875%, 

12/15/2025

f

123,444

TerraForm

Power

Operating,

LLC

161,000

5.000%, 

1/31/2028

f

146,108

Vistra

Operations

Company,

LLC

86,000

5.125%, 

5/13/2025

f

83,800

162,000

5.000%, 

7/31/2027

f

148,941

Xcel

Energy,

Inc.

51,000

4.000%, 

6/15/2028

47,712

65,000

4.600%, 

6/1/2032

58,984

Total

4,228,852

Total

Long-Term

Fixed

Income

(cost

$142,100,644)

129,468,217

Shares

Registered

Investment

Companies

(

10

.2

%

)

Value

U.S.

Affiliated  (9.0%)

2,003,820

Thrivent

Core

Emerging

Markets

Debt

Fund

14,848,309

Total

14,848,309

U.S.

Unaffiliated  (1.2%)

24,084

Aberdeen

Asia-Pacific

Income

Fund,

Inc.

59,006

9,075

AllianceBernstein

Global

High

Income

Fund,

Inc.

88,027

11,614

Allspring

Income

Opportunities

Fund

70,845

3,171

BlackRock

Core

Bond

Trust

31,520

8,534

BlackRock

Corporate

High

Yield

Fund,

Inc.

73,648

8,215

BlackRock

Credit

Allocation

Income

Trust

79,521

2,120

BlackRock

Debt

Strategies

Fund,

Inc.

21,772

8,249

BlackRock

Enhanced

Global

Dividend

Trust

77,788

2,150

BlackRock

Enhanced

International

Dividend

Trust

10,728

300

BlackRock

Floating

Rate

Income

Strategies

Fund,

Inc.

3,786

1,499

BlackRock

Income

Trust,

Inc.

17,059

4,516

BlackRock

Multi-Sector

Income

Trust

65,347

6,567

Blackstone

Strategic

Credit

2027

Term

Fund

72,171

8,014

Eaton

Vance

Limited

Duration

Income

Fund

72,447

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

352

Shares

Registered

Investment

Companies

(10.2%)

Value

U.S.

Unaffiliated  (1.2%)-

continued

702

Eaton

Vance

Tax-Managed

Global

Diversified

Equity

Income

Fund

$

5,174

7,187

First

Trust

High

Income

Long/Short

Fund

77,045

2,034

Invesco

Dynamic

Credit

Opportunities

Fund

c,m

21,406

1,600

iShares

Preferred

and

Income

Securities

ETF

48,240

17,325

Nuveen

Credit

Strategies

Income

Fund

87,665

2,750

Nuveen

Preferred

Income

Opportunities

Fund

17,407

2,200

Nuveen

Quality

Preferred

Income

Fund

II

13,574

7,350

PGIM

Global

High

Yield

Fund,

Inc.

79,233

7,821

PGIM

High

Yield

Bond

Fund,

Inc.

92,131

1,902

Pimco

Dynamic

Income

Fund

32,867

3,036

SPDR

Bloomberg

High

Yield

Bond

ETF

i

274,454

912

Tri-Continental

Corporation

24,250

3,900

Vanguard

Short-Term

Corporate

Bond

ETF

293,085

2,300

Virtus

Convertible

&

Income

Fund

7,153

4,605

Virtus

Dividend,

Interest

&

Premium

Strategy

Fund

52,175

720

Virtus

Equity

&

Convertible

Income

Fund

i

14,321

11,564

Voya

Global

Equity

Dividend

&

Premium

Opportunity

Fund

56,663

17,803

Western

Asset

High

Income

Opportunity

Fund,

Inc.

64,803

Total

2,005,311

Total

Registered

Investment

Companies

(cost

$20,961,448)

16,853,620

Shares

Collateral

Held

for

Securities

Loaned

(

2

.1

%

)

Value

3,470,293

Thrivent

Cash

Management

Trust

3,470,293

Total

Collateral

Held

for

Securities

Loaned

(cost

$3,470,293)

3,470,293

Shares

Preferred

Stock

(

1

.2

%

)

Value

Communications

Services

(0.1%)

6,050

AT&T,

Inc.,

4.750%

k

116,039

453

Paramount

Global,

Convertible,

5.750%

8,041

3,500

Telephone

and

Data

Systems,

Inc.,

6.000%

k

47,775

Total

171,855

Energy

(0.1%)

2,953

Crestwood

Equity

Partners,

LP,

9.250%

k

28,674

825

Energy

Transfer,

LP,

7.600%

b,k

20,155

1,736

Nustar

Logistics,

LP,

12.304%

b

44,632

131

UGI

Corporation,

Convertible,

7.250%

7,485

Total

100,946

Financials

(0.8%)

1,750

Aegon

Funding

Corporation

II,

5.100%

34,755

Shares

Preferred

Stock

(1.2%)

Value

Financials

(0.8%)

-

continued

3,700

Allstate

Corporation,

5.100%

k

$

72,298

1,000

American

International

Group,

Inc.

5.850%

k

23,280

1,941

Apollo

Global

Management,

Inc.,

Convertible,

6.750%

m

106,949

5,250

Bank

of

America

Corporation,

4.250%

k

89,512

100

Bank

of

America

Corporation,

Convertible,

7.250%

k

111,221

3,050

Capital

One

Financial

Corporation,

5.000%

k

57,096

1,275

Equitable

Holdings,

Inc.,

5.250%

k

25,118

70

First

Horizon

Bank,

6.393%

*,b,k

46,456

1,150

First

Horizon

Corporation,

6.500%

k

24,035

3,700

J.P.

Morgan

Chase

&

Company,

4.200%

k

66,970

3,250

J.P.

Morgan

Chase

&

Company,

4.750%

k

66,593

3,050

KeyCorp,

6.200%

b,k

60,207

2,450

Morgan

Stanley,

4.250%

k

41,773

1,580

Morgan

Stanley,

5.850%

b,k

36,703

2,200

Morgan

Stanley,

7.125%

b,k

56,452

2,000

Public

Storage

Operating

Company,

3.950%

k

33,380

3,200

Public

Storage

Operating

Company,

4.125%

k

57,504

668

Public

Storage

Operating

Company,

4.625%

k

13,160

175

Public

Storage

Operating

Company,

4.700%

k

3,425

650

Regions

Financial

Corporation,

5.700%

b,k

12,740

425

Synovus

Financial

Corporation,

5.875%

b,k

9,150

2,400

U.S.

Bancorp,

4.000%

k

38,424

3,500

Wells

Fargo

&

Company,

4.250%

k

58,415

129

Wells

Fargo

&

Company,

Convertible,

7.500%

k

143,835

Total

1,289,451

Utilities

(0.2%)

1,251

AES

Corporation,

Convertible,

6.875%

76,311

4,025

CMS

Energy

Corporation,

4.200%

k

79,775

2,067

NextEra

Energy,

Inc.,

Convertible,

6.926%

i

78,195

308

NiSource,

Inc.,

Convertible,

7.750%

30,015

3,525

Southern

Company,

4.950%

74,201

Total

338,497

Total

Preferred

Stock

(cost

$2,369,995)

1,900,749

Shares

Common

Stock

(

0

.2

%

)

Value

Communications

Services

(<0.1%)

306

Windstream

Services,

LLC

m

2,907

Total

2,907

Consumer

Discretionary

(0.1%)

1,233

Bloomin'

Brands,

Inc.

30,320

17

Booking

Holdings,

Inc.

m

52,427

Total

82,747

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

353

Shares

Common

Stock

(0.2%)

Value

Energy

(0.1%)

158

EQT

Corporation

$

6,412

1,512

Permian

Resources

Corporation

21,107

173

Pioneer

Natural

Resources

Company

39,712

Total

67,231

Financials

(<0.1%)

76

Bank

of

America

Corporation

2,081

275

BlackRock

TCP

Capital

Corporation

3,228

260

Blackstone

Mortgage

Trust,

Inc.

5,655

258

Encore

Capital

Group,

Inc.

m

12,322

124

FS

KKR

Capital

Corporation

2,442

242

Golub

Capital

BDC,

Inc.

3,550

843

New

York

Community

Bancorp,

Inc.

9,560

66

Wells

Fargo

&

Company

2,697

Total

41,535

Industrials

(<0.1%)

55

Chart

Industries,

Inc.

m

9,301

420

Uber

Technologies,

Inc.

m

19,316

Total

28,617

Information

Technology

(<0.1%)

178

Western

Digital

Corporation

m

8,122

Total

8,122

Materials

(<0.1%)

247

Allegheny

Technologies,

Inc.

m

10,164

Total

10,164

Real

Estate

(<0.1%)

199

Kite

Realty

Group

Trust

4,263

Total

4,263

Utilities

(<0.1%)

639

NiSource,

Inc.

15,770

Total

15,770

Total

Common

Stock

(cost

$222,530)

261,356

Shares

or

Principal

Amount

Short-Term

Investments

(

2

.9

%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

100,000

5.265%,

10/4/2023

n,o

99,971

100,000

5.270%,

10/25/2023

n,o

99,673

Thrivent

Core

Short-Term

Reserve

Fund

452,862

5.650%

4,528,620

U.S.

Treasury

Bills

100,000

5.267%,

11/21/2023

n,p

99,262

Total

Short-Term

Investments

(cost

$4,823,846)

4,827,526

Total

Investments

(cost

$187,854,540)

103.2%

$

170,726,354

Other

Assets

and

Liabilities,

Net

(3.2%)

(

5,222,027

)

Total

Net

Assets

100.0%

$

165,504,327

a

The

stated

interest

rate

represents

the

weighted

average

of

all

contracts

within

the

bank

loan

facility.

b

Denotes

variable

rate

securities.

The

rate

shown

is

as

of

September

29,

2023.

The

rates

of

certain

variable

rate

securities

are

based

on

a

published

reference

rate

and

spread;

these

may

vary

by

security

and

the

reference

rate

and

spread

are

indicated

in

their

description.  The

rates

of

other

variable

rate

securities

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.  

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

All

or

a

portion

of

the

loan

is

unfunded.

e

Denotes

investments

purchased

on

a

when-issued

or

delayed-delivery

basis.

f

Denotes

securities

sold

under

Rule

144A

of

the

Securities

Act

of

1933,

which

exempts

them

from

registration.

These

securities

may

be

resold

to

other

dealers

in

the

program

or

to

other

qualified

institutional

buyers.

As

of

September

29,

2023,

the

value

of

these

investments

was

$60,131,656

or

36.3%

of

total

net

assets.

g

Denotes

step

coupon

securities.

Step

coupon

securities

pay

an

initial

coupon

rate

for

the

first

period

and

then

different

coupon

rates

for

following

periods.

The

rate

shown

is

as

of

September

29,

2023.

h

All

or

a

portion

of

the

security

is

insured

or

guaranteed.

i

All

or

a

portion

of

the

security

is

on

loan.

j

Denotes

interest

only

security.  Interest

only

securities

represent

the

right

to

receive

monthly

interest

payments

on

an

underlying

pool

of

mortgages

or

assets.  The

principal

shown

is

the

outstanding

par

amount

of

the

pool

as

of

the

end

of

the

period.

The

actual

effective

yield

of

the

security

is

different

than

the

stated

coupon

rate.

k

Denotes

perpetual

securities.

Perpetual

securities

pay

an

indefinite

stream

of

income

and

have

no

contractual

maturity

date.

Date

shown,

if

applicable,

is

next

call

date.

l

Defaulted

security.  Interest

is

not

being

accrued.

m

Non-income

producing

security.

n

The

interest

rate

shown

reflects

the

yield.

o

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

p

All

or

a

portion

of

the

security

is

pledged

as

collateral

under

the

agreement

between

the

counterparty,

the

custodian

and

the

fund

for

open

swap

contracts.

*

Denotes

restricted

securities.

Restricted

securities

are

investment

securities

which

cannot

be

offered

for

public

sale

without

first

being

registered

under

the

Securities

Act

of

1933.

The

value

of

all

restricted

securities

held

in

Opportunity

Income

Plus

Portfolio

as

of

September

29,

2023

was

$51,586

or

0.03%

of

total

net

assets.

The

following

table

indicates

the

acquisition

date

and

cost

of

restricted

securities

shown

in

the

schedule

as

of

September

29,

2023.

Security

Acquisition

Date

Cost

Credit

Suisse

Group

AG,

12/29/2049

8/24/2015

$

58,420

First

Horizon

Bank,

6.393%,

3/5/2019

6/21/2017

53,690

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

354

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Opportunity

Income

Plus

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Long-Term

Fixed

Income

$

3,025,864

Common

Stock

336,931

Total

lending

$3,362,795

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$3,470,293

Net

amounts

due

to

counterparty

$107,498

Definitions:

CLO

-

Collateralized

Loan

Obligation

ETF

-

Exchange

Traded

Fund

REMIC

-

Real

Estate

Mortgage

Investment

Conduit

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Ser.

-

Series

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Reference

Rate

Index:

CMT

1Y

-

Constant

Maturity

Treasury

Yield

1

Year

LIBOR

1M

-

ICE

Libor

USD

Rate

1

Month

LIBOR

3M

-

ICE

Libor

USD

Rate

3

Month

PRIME

-

Federal

Reserve

Prime

Loan

Rate

SOFR30A

-

Secured

Overnight

Financing

Rate

30

Year

Average

SOFRRATE

-

Secured

Overnight

Financing

Rate

TSFR1M

-

CME

Term

SOFR

1

Month

TSFR3M

-

CME

Term

SOFR

3

Month

TSFR6M

-

CME

Term

SOFR

6

Month

USISOA05

-

USD

SOFR

Spread-Adjusted

ICE

Swap

Rate

5

Year

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

355

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Opportunity

Income

Plus

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Bank

Loans

Basic

Materials

374,035

–

321,498

52,537

Capital

Goods

1,484,185

–

1,338,207

145,978

Communications

Services

2,124,928

–

2,124,928

–

Consumer

Cyclical

2,438,283

–

2,438,283

–

Consumer

Non-Cyclical

2,162,220

–

2,118,030

44,190

Energy

345,971

–

345,971

–

Financials

1,045,058

–

1,045,058

–

Technology

2,998,065

–

2,998,065

–

Transportation

855,696

–

855,696

–

Utilities

116,152

–

116,152

–

Long-Term

Fixed

Income

Asset-Backed

Securities

16,976,166

–

16,976,166

–

Basic

Materials

3,003,686

–

3,003,686

–

Capital

Goods

6,352,841

–

6,352,841

–

Collateralized

Mortgage

Obligations

12,036,372

–

12,036,372

–

Commercial

Mortgage-Backed

Securities

1,503,561

–

1,503,561

–

Communications

Services

7,571,645

–

7,571,645

–

Consumer

Cyclical

10,361,485

–

10,361,485

–

Consumer

Non-Cyclical

8,736,098

–

8,736,098

–

Energy

7,544,779

–

7,544,779

–

Financials

20,454,376

–

20,454,376

–

Foreign

Government

59,641

–

59,641

–

Mortgage-Backed

Securities

16,386,175

–

16,386,175

–

Technology

5,325,818

–

5,325,818

–

Transportation

2,186,841

–

2,186,841

–

U.S.

Government

&

Agencies

6,739,881

–

6,739,881

–

Utilities

4,228,852

–

4,228,852

–

Registered

Investment

Companies

U.S.

Unaffiliated

2,005,311

1,983,905

–

21,406

Preferred

Stock

Communications

Services

171,855

171,855

–

–

Energy

100,946

100,946

–

–

Financials

1,289,451

1,242,995

46,456

–

Utilities

338,497

338,497

–

–

Common

Stock

Communications

Services

2,907

–

2,907

–

Consumer

Discretionary

82,747

82,747

–

–

Energy

67,231

67,231

–

–

Financials

41,535

41,535

–

–

Industrials

28,617

28,617

–

–

Information

Technology

8,122

8,122

–

–

Materials

10,164

10,164

–

–

Real

Estate

4,263

4,263

–

–

Utilities

15,770

15,770

–

–

Short-Term

Investments

298,906

–

298,906

–

Subtotal

Investments

in

Securities

$

147,879,132

$

4,096,647

$

143,518,374

$

264,111

Other

Investments  *

Total

U.S.

Affiliated

Registered

Investment

Cos.

14,848,309

Affiliated

Short-Term

Investments

4,528,620

Collateral

Held

for

Securities

Loaned

3,470,293

Subtotal

Other

Investments

$

22,847,222

Total

Investments

at

Value

$

170,726,354

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

356

Reference

Description:

CBOT

-

Chicago

Board

of

Trade

CME

-

Chicago

Mercantile

Exchange

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Opportunity

Income

Plus

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Asset

Derivatives

Credit

Default

Swaps

949

–

949

–

Total

Asset

Derivatives

$

949

$

–

$

949

$

–

Liability

Derivatives

Futures

Contracts

215,033

215,033

–

–

Total

Liability

Derivatives

$

215,033

$

215,033

$

–

$

–

The

following

table

presents

Opportunity

Income

Plus

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$199,644

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CBOT

2-Yr.

U.S.

Treasury

Note

25

December

2023

$

5,090,300

(

$

22,526

)

CME

Ultra

Long

Term

U.S.

Treasury

Bond

21

December

2023

2,684,944

(

192,507

)

Total

Futures

Long

Contracts

$

7,775,244

(

$

215,033

)

Total

Futures

Contracts

$

7,775,244

(

$

215,033

)

The

following

table

presents

Opportunity

Income

Plus

Portfolio's

swaps

contracts

held

as

of

September

29,

2023.

Investments

totaling

$99,262

were

pledged

as

collateral

under

the

agreement

between

the

counterparty,

the

custodian

and

the

fund

for

open

swap

contracts.

Credit

Default

Swaps

Buy/Sell

Protection

1

Termination

Date

Notional

Principal

Amount

2

Upfront

Payments/

(Receipts)

Value

3

Unrealized

Gain/(Loss)

CDX

HY

41,

5

Year,

at

5.00%,

Quarterly

Buy

12/20/2028

$

1,465,000

$

–

$

949

$

949

Total

Credit

Default

Swaps

$

–

$

949

$

949

1

As

the

buyer

of

protection,

Opportunity

Income

Plus

Portfolio

pays

periodic

fees

in

return

for

payment

by

the

seller

which

is

contingent

upon

an

adverse

credit

event

occurring

in

the

underlying

issuer

or

reference

entity.

As

the

seller

of

protection,

Opportunity

Income

Plus

Portfolio

collects

periodic

fees

from

the

buyer

and

profits

if

the

credit

of

the

underlying

issuer

or

reference

entity

remains

stable

or

improves

while

the

swap

is

outstanding,

but

the

seller

in

a

credit

default

swap

contract

would

be

required

to

pay

the

amount

of

credit

loss,

determined

as

specified

in

the

agreement,

to

the

buyer

in

the

event

of

an

adverse

credit

event

in

the

reference

entity.

2

The

maximum

potential

amount

of

future

payments

Opportunity

Income

Plus

Portfolio

could

be

required

to

make

as

the

seller

or

receive

as

the

buyer

of

protection.

3

The

values

for

credit

indexes

(CDX

or

LCDX)

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

liability

or

profit

for

the

credit

default

swap

contract

had

the

contract

been

closed

as

of

the

reporting

date.

When

protection

has

been

sold,

the

value

of

the

swap

will

increase

when

the

swap

spread

declines

representing

an

improvement

in

the

reference

entity's

credit

worthiness.

The

value

of

the

swap

will

decrease

when

the

swap

spread

increases

representing

a

deterioration

in

the

reference

entity's

credit

worthiness.

When

protection

has

been

purchased,

the

value

of

the

swap

will

increase

when

the

swap

spread

increases

representing

a

deterioration

in

the

reference

entity's

credit

worthiness.

The

value

of

the

swap

will

decrease

when

the

swap

spread

declines

representing

an

improvement

in

the

reference

entity's

credit

worthiness.

Opportunity

Income

Plus

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

357

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Opportunity

Income

Plus

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

$

21,761

$

747

$

7,525

$

14,848

2,004

9.0%

Total

U.S.

Affiliated

Registered

Investment

Companies

21,761

14,848

9.0

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

14,386

49,807

59,664

4,529

453

2.7

Total

Affiliated

Short-Term

Investments

14,386

4,529

2.7

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

1,347

22,864

20,741

3,470

3,470

2.1

Total

Collateral

Held

for

Securities

Loaned

1,347

3,470

2.1

Total

Value

$

37,494

$

22,847

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

U.S.

Affiliated

Registered

Investment

Companies

Core

Emerging

Markets

Debt

($1,983)

$1,848

$

–

$

747

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

1

(1)

–

241

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$

988

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

29

Total

Affiliated

Income

from

Securities

Loaned,

Net

$

29

Total

Value

($1,982)

$1,847

$

–

Real

Estate

Securities

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

358

Shares

Common

Stock

(

98

.8

%

)

Value

Data

Center

REITs

(7.7%)

27,057

Digital

Realty

Trust,

Inc.

$

3,274,438

10,343

Equinix,

Inc.

7,511,707

Total

10,786,145

Diversified

REITs

(1.6%)

19,252

Broadstone

Net

Lease,

Inc.

275,304

67,053

Essential

Properties

Realty

Trust,

Inc.

1,450,356

12,333

Gladstone

Commercial

Corporation

149,969

3,245

One

Liberty

Properties,

Inc.

61,233

6,307

WP

Carey,

Inc.

341,083

Total

2,277,945

Health

Care

REITs

(7.8%)

76,047

CareTrust

REIT,

Inc.

1,558,963

90,422

Global

Medical

REIT,

Inc.

811,085

22,493

Healthpeak

Properties,

Inc.

412,971

10,307

National

Health

Investors,

Inc.

529,368

27,489

Sabra

Health

Care

REIT,

Inc.

383,197

74,028

Ventas,

Inc.

3,118,800

50,172

Welltower,

Inc.

4,110,090

Total

10,924,474

Hotel

&

Resort

REITs

(3.8%)

12,634

Chatham

Lodging

Trust

120,907

138,293

Host

Hotels

&

Resorts,

Inc.

2,222,369

95,734

Park

Hotels

&

Resorts,

Inc.

1,179,443

78,038

Pebblebrook

Hotel

Trust

1,060,537

94,796

Service

Properties

Trust

728,981

2,149

Xenia

Hotels

&

Resorts,

Inc.

25,315

Total

5,337,552

Industrial

REITs

(15.6%)

33,701

First

Industrial

Realty

Trust,

Inc.

1,603,830

178,480

LXP

Industrial

Trust

1,588,472

8,082

Plymouth

Industrial

REIT,

Inc.

169,318

114,965

Prologis,

Inc.

12,900,223

35,485

Rexford

Industrial

Realty,

Inc.

1,751,185

57,675

STAG

Industrial,

Inc.

1,990,364

35,137

Terreno

Realty

Corporation

1,995,782

Total

21,999,174

Multi-Family

Residential

REITs

(12.8%)

52,445

Apartment

Income

REIT

Corporation

1,610,062

24,100

AvalonBay

Communities,

Inc.

4,138,934

13,251

Camden

Property

Trust

1,253,280

38,310

Equity

Residential

2,249,180

13,458

Essex

Property

Trust,

Inc.

2,854,307

33,192

Independence

Realty

Trust,

Inc.

467,011

23,025

Mid-America

Apartment

Communities,

Inc.

2,962,166

69,940

UDR,

Inc.

2,494,760

Total

18,029,700

Office

REITs

(2.9%)

30,613

Alexandria

Real

Estate

Equities,

Inc.

3,064,361

3,470

Boston

Properties,

Inc.

206,396

22,995

COPT

Defense

Properties

547,971

15,599

Peakstone

Realty

Trust

259,567

Shares

Common

Stock

(98.8%)

Value

Office

REITs

(2.9%)

-

continued

1,169

Vornado

Realty

Trust

$

26,513

Total

4,104,808

Other

Specialized

REITs

(6.6%)

10,579

EPR

Properties

439,452

72,287

Four

Corners

Property

Trust,

Inc.

1,604,049

33,964

Gaming

and

Leisure

Properties,

Inc.

1,547,060

42,924

Gladstone

Land

Corporation

610,809

40,461

Iron

Mountain,

Inc.

2,405,406

654

Lamar

Advertising

Company

54,589

5,527

Outfront

Media,

Inc.

55,823

10,815

Safehold,

Inc.

192,507

19,620

Uniti

Group,

Inc.

92,606

79,233

VICI

Properties,

Inc.

2,305,680

Total

9,307,981

Retail

REITs

(15.1%)

36,610

Agree

Realty

Corporation

2,022,336

55,688

Getty

Realty

Corporation

1,544,228

32,336

Kimco

Realty

Corporation

568,790

74,891

Kite

Realty

Group

Trust

1,604,165

70,332

NetSTREIT

Corporation

1,095,773

55,713

Phillips

Edison

and

Company,

Inc.

1,868,614

62,851

Realty

Income

Corporation

3,138,779

36,067

Regency

Centers

Corporation

2,143,823

92,483

Retail

Opportunity

Investments

Corporation

1,144,940

1,793

Saul

Centers,

Inc.

63,239

32,542

Simon

Property

Group,

Inc.

3,515,512

106,102

SITE

Centers

Corporation

1,308,238

16,964

Spirit

Realty

Capital,

Inc.

568,803

29,180

Tanger

Factory

Outlet

Centers,

Inc.

659,468

Total

21,246,708

Self-Storage

REITs

(7.7%)

55,147

CubeSmart

2,102,755

18,802

Extra

Space

Storage,

Inc.

2,285,947

24,456

Public

Storage

6,444,645

Total

10,833,347

Single-Family

Residential

REITs

(4.1%)

3,873

American

Homes

4

Rent

130,481

4,270

Equity

Lifestyle

Properties,

Inc.

272,042

84,108

Invitation

Homes,

Inc.

2,665,383

23,301

Sun

Communities,

Inc.

2,757,440

Total

5,825,346

Telecom

Tower

REITs

(12.0%)

55,242

American

Tower

Corporation

9,084,547

44,074

Crown

Castle,

Inc.

4,056,130

18,574

SBA

Communications

Corporation

3,717,958

Total

16,858,635

Timber

REITs

(1.1%)

52,442

Weyerhaeuser

Company

1,607,872

Total

1,607,872

Total

Common

Stock

(cost

$118,194,273)

139,139,687

Real

Estate

Securities

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

359

Shares

or

Principal

Amount

Short-Term

Investments

(

0

.9

%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

100,000

5.315%,

12/15/2023

a,b

$

98,948

Thrivent

Core

Short-Term

Reserve

Fund

117,514

5.650%

1,175,138

Total

Short-Term

Investments

(cost

$1,274,016)

1,274,086

Total

Investments

(cost

$119,468,289)

99.7%

$

140,413,773

Other

Assets

and

Liabilities,

Net

0.3%

427,875

Total

Net

Assets

100.0%

$

140,841,648

a

The

interest

rate

shown

reflects

the

yield.

b

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

Definitions:

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Real

Estate

Securities

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Data

Center

REITs

10,786,145

10,786,145

–

–

Diversified

REITs

2,277,945

2,277,945

–

–

Health

Care

REITs

10,924,474

10,924,474

–

–

Hotel

&

Resort

REITs

5,337,552

5,337,552

–

–

Industrial

REITs

21,999,174

21,999,174

–

–

Multi-Family

Residential

REITs

18,029,700

18,029,700

–

–

Office

REITs

4,104,808

4,104,808

–

–

Other

Specialized

REITs

9,307,981

9,307,981

–

–

Retail

REITs

21,246,708

21,246,708

–

–

Self-Storage

REITs

10,833,347

10,833,347

–

–

Single-Family

Residential

REITs

5,825,346

5,825,346

–

–

Telecom

Tower

REITs

16,858,635

16,858,635

–

–

Timber

REITs

1,607,872

1,607,872

–

–

Short-Term

Investments

98,948

–

98,948

–

Subtotal

Investments

in

Securities

$

139,238,635

$

139,139,687

$

98,948

$

–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

1,175,138

Subtotal

Other

Investments

$

1,175,138

Total

Investments

at

Value

$

140,413,773

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Real

Estate

Securities

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Liability

Derivatives

Futures

Contracts

44,932

44,932

–

–

Total

Liability

Derivatives

$

44,932

$

44,932

$

–

$

–

Real

Estate

Securities

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

360

Reference

Description:

CME

-

Chicago

Mercantile

Exchange

S&P

-

Standard

&

Poor's

The

following

table

presents

Real

Estate

Securities

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$98,948

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CME

Micro

E-mini

S&P

500

Index

50

December

2023

$

1,126,307

(

$

44,932

)

Total

Futures

Long

Contracts

$

1,126,307

(

$

44,932

)

Total

Futures

Contracts

$

1,126,307

(

$

44,932

)

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Real

Estate

Securities

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$

418

$

14,149

$

13,392

$

1,175

118

0.8%

Total

Affiliated

Short-Term

Investments

418

1,175

0.8

Total

Value

$

418

$

1,175

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$

44

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$

44

Total

Value

$–

$–

$

–

Small

Cap

Growth

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

361

Shares

Common

Stock

(

96

.5

%

)

Value

Communications

Services

(3.1%)

73,897

Cargurus,

Inc.

a

$

1,294,675

107,477

QuinStreet,

Inc.

a

964,069

17,562

Ziff

Davis,

Inc.

a

1,118,524

Total

3,377,268

Consumer

Discretionary

(11.4%)

15,096

Boot

Barn

Holdings,

Inc.

a

1,225,644

118,185

Clarus

Corporation

893,478

11,808

Columbia

Sportswear

Company

874,973

122,150

Everi

Holdings,

Inc.

a

1,614,823

7,830

Five

Below,

Inc.

a

1,259,847

7,987

Fox

Factory

Holding

Corporation

a

791,352

7,212

Meritage

Homes

Corporation

882,677

19,503

Papa

John's

International,

Inc.

1,330,495

12,972

Skyline

Champion

Corporation

a

826,576

60,362

Stoneridge,

Inc.

a

1,211,465

77,926

ThredUp,

Inc.

a

312,483

6,039

Wingstop,

Inc.

1,086,054

Total

12,309,867

Consumer

Staples

(6.6%)

9,133

Celsius

Holdings,

Inc.

a

1,567,223

20,137

e.l.f.

Beauty,

Inc.

a

2,211,647

7,788

J

&

J

Snack

Foods

Corporation

1,274,506

6,039

Lancaster

Colony

Corporation

996,616

47,293

Turning

Point

Brands,

Inc.

1,091,995

Total

7,141,987

Energy

(2.7%)

20,181

Matador

Resources

Company

1,200,366

82,367

TechnipFMC

plc

1,675,345

Total

2,875,711

Financials

(10.2%)

16,452

Hamilton

Lane,

Inc.

1,487,919

18,738

Houlihan

Lokey,

Inc.

2,007,214

6,112

Kinsale

Capital

Group,

Inc.

2,531,163

13,566

RLI

Corporation

1,843,484

31,832

Triumph

Financial,

Inc.

a

2,062,395

22,603

Western

Alliance

Bancorp

1,039,060

Total

10,971,235

Health

Care

(15.8%)

1,567

Agiliti,

Inc.

a

10,170

2,887

Argenx

SE

ADR

a

1,419,336

4,952

Ascendis

Pharma

AS

ADR

a

463,705

33,308

Enovis

Corporation

a

1,756,331

33,809

Halozyme

Therapeutics,

Inc.

a

1,291,504

9,268

Immunocore

Holdings

plc

ADR

a

481,009

35,786

Inmode,

Ltd.

a

1,090,042

4,796

Inspire

Medical

Systems,

Inc.

a

951,718

23,465

Lantheus

Holdings,

Inc.

a

1,630,348

103,129

Maravai

LifeSciences

Holdings,

Inc.

a

1,031,290

9,717

Natera,

Inc.

a

429,977

43,027

Phreesia,

Inc.

a

803,744

64,684

Point

Biopharma

Global,

Inc.

a

431,442

46,640

Progyny,

Inc.

a

1,586,693

8,676

Repligen

Corporation

a

1,379,571

2,202

Sarepta

Therapeutics,

Inc.

a

266,927

86,603

scPharmaceuticals,

Inc.

a

616,613

42,141

Vericel

Corporation

a

1,412,566

Shares

Common

Stock

(96.5%)

Value

Health

Care

(15.8%)

-

continued

12,329

Vor

BioPharma,

Inc.

a,b

$

26,138

Total

17,079,124

Industrials

(18.7%)

20,064

ASGN,

Inc.

a

1,638,827

48,045

Badger

Infrastructure

Solutions,

Ltd.

1,227,080

10,845

Beacon

Roofing

Supply,

Inc.

a

836,909

8,145

Chart

Industries,

Inc.

a

1,377,482

4,791

Curtiss-Wright

Corporation

937,263

58,484

ExlService

Holdings,

Inc.

a

1,639,891

63,563

First

Advantage

Corporation

876,534

19,597

Helios

Technologies,

Inc.

1,087,242

138,740

Janus

International

Group,

Inc.

a

1,484,518

6,062

Lincoln

Electric

Holdings,

Inc.

1,102,011

11,965

Middleby

Corporation

a

1,531,520

17,329

RB

Global,

Inc.

1,083,062

4,489

Saia,

Inc.

a

1,789,540

10,802

Simpson

Manufacturing

Company,

Inc.

1,618,248

5,117

SiteOne

Landscape

Supply,

Inc.

a

836,374

25,263

WillScot

Mobile

Mini

Holdings

Corporation

a

1,050,688

Total

20,117,189

Information

Technology

(22.1%)

41,159

Calix,

Inc.

a

1,886,729

6,925

Cognex

Corporation

293,897

22,154

Descartes

Systems

Group,

Inc.

a

1,625,660

99,156

Grid

Dynamics

Holdings,

Inc.

a

1,207,720

22,361

Guidewire

Software,

Inc.

a

2,012,490

57,596

Hackett

Group,

Inc.

1,358,690

23,035

Lattice

Semiconductor

Corporation

a

1,979,398

3,513

Littelfuse,

Inc.

868,835

1,107

Monolithic

Power

Systems,

Inc.

511,434

16,435

Nova,

Ltd.

a

1,847,951

36,696

PagerDuty,

Inc.

a

825,293

17,066

PDF

Solutions,

Inc.

a

552,938

6,211

Silicon

Laboratories,

Inc.

a

719,793

44,378

Sprout

Social,

Inc.

a

2,213,575

4,864

SPS

Commerce,

Inc.

a

829,847

93,988

TTM

Technologies,

Inc.

a

1,210,565

49,740

Varonis

Systems,

Inc.

a

1,519,060

23,422

Workiva,

Inc.

a

2,373,585

Total

23,837,460

Materials

(2.8%)

216,837

Ranpak

Holdings

Corporation

a

1,179,593

32,881

Summit

Materials,

Inc.

a

1,023,914

64,019

Tronox

Holdings

plc

860,416

Total

3,063,923

Real

Estate

(2.5%)

25,457

Agree

Realty

Corporation

1,406,245

8,769

FirstService

Corporation

1,276,240

Total

2,682,485

Small

Cap

Growth

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

362

Shares

Common

Stock

(96.5%)

Value

Utilities

(0.6%)

11,756

Black

Hills

Corporation

$

594,736

Total

594,736

Total

Common

Stock

(cost

$93,041,469)

104,050,985

Shares

Registered

Investment

Companies

(

0

.9

%

)

Value

U.S.

Unaffiliated  (0.9%)

13,485

SPDR

S&P

Biotech

ETF

984,675

Total

984,675

Total

Registered

Investment

Companies

(cost

$1,096,827)

984,675

Shares

Collateral

Held

for

Securities

Loaned

(

<0.1%

)

Value

38,250

Thrivent

Cash

Management

Trust

38,250

Total

Collateral

Held

for

Securities

Loaned

(cost

$38,250)

38,250

Shares

Short-Term

Investments

(

2

.0

%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

213,903

5.650%

2,139,029

Total

Short-Term

Investments

(cost

$2,139,029)

2,139,029

Total

Investments

(cost

$96,315,575)

99.4%

$

107,212,939

Other

Assets

and

Liabilities,

Net

0.6%

673,011

Total

Net

Assets

100.0%

$

107,885,950

a

Non-income

producing

security.

b

All

or

a

portion

of

the

security

is

on

loan.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Small

Cap

Growth

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Common

Stock

$

36,040

Total

lending

$36,040

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$38,250

Net

amounts

due

to

counterparty

$2,210

Definitions:

ADR

-

American

Depositary

Receipt,

which

are

certificates

for

an

underlying

foreign

security's

shares

held

by

an

issuing

U.S.

depository

bank.

ETF

-

Exchange

Traded

Fund

plc

-

Public

Limited

Company

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Small

Cap

Growth

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

363

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Small

Cap

Growth

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

3,377,268

3,377,268

–

–

Consumer

Discretionary

12,309,867

12,309,867

–

–

Consumer

Staples

7,141,987

7,141,987

–

–

Energy

2,875,711

2,875,711

–

–

Financials

10,971,235

10,971,235

–

–

Health

Care

17,079,124

17,079,124

–

–

Industrials

20,117,189

18,890,109

1,227,080

–

Information

Technology

23,837,460

23,837,460

–

–

Materials

3,063,923

3,063,923

–

–

Real

Estate

2,682,485

2,682,485

–

–

Utilities

594,736

594,736

–

–

Registered

Investment

Companies

U.S.

Unaffiliated

984,675

984,675

–

–

Subtotal

Investments

in

Securities

$

105,035,660

$

103,808,580

$

1,227,080

$

–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

2,139,029

Collateral

Held

for

Securities

Loaned

38,250

Subtotal

Other

Investments

$

2,177,279

Total

Investments

at

Value

$

107,212,939

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Small

Cap

Growth

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$

3,189

$

30,591

$

31,641

$

2,139

214

2.0%

Total

Affiliated

Short-Term

Investments

3,189

2,139

2.0

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

1,088

15,725

16,775

38

38

<0.1

Total

Collateral

Held

for

Securities

Loaned

1,088

38

<0.1

Total

Value

$

4,277

$

2,177

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$

105

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$

105

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

8

Total

Affiliated

Income

from

Securities

Loaned,

Net

$

8

Total

Value

$–

$–

$

–

Small

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

364

Shares

Common

Stock

(

99.1%

)

Value

Communications

Services

(2.9%)

27,827

AMC

Networks,

Inc.

a

$

327,802

9,705

ATN

International,

Inc.

306,290

79,381

Cargurus,

Inc.

a

1,390,755

56,548

Cars.com,

Inc.

a

953,399

99,031

Cinemark

Holdings,

Inc.

a

1,817,219

39,800

Cogent

Communications

Holdings

2,463,620

68,272

Consolidated

Communications

Holdings,

Inc.

a

233,490

227,013

DISH

Network

Corporation

a

1,330,296

53,756

E.W.

Scripps

Company

a

294,583

56,511

Gogo,

Inc.

a

674,176

38,929

John

Wiley

and

Sons,

Inc.

1,446,991

922,103

Lumen

Technologies,

Inc.

a

1,309,386

15,234

Madison

Square

Garden

Sports

Corporation

2,685,754

22,515

Marcus

Corporation

348,983

47,032

QuinStreet,

Inc.

a

421,877

25,503

Scholastic

Corporation

972,684

45,981

Shenandoah

Telecommunications

Company

947,668

22,113

Shutterstock,

Inc.

841,400

23,160

TechTarget,

Inc.

a

703,138

89,564

Telephone

and

Data

Systems,

Inc.

1,639,917

27,857

Thryv

Holdings,

Inc.

a

522,876

98,489

Tripadvisor,

Inc.

a

1,632,948

62,859

Yelp,

Inc.

a

2,614,306

Total

25,879,558

Consumer

Discretionary

(13.7%)

45,799

Abercrombie

&

Fitch

Company

a

2,581,690

69,941

Academy

Sports

and

Outdoors,

Inc.

3,306,111

38,004

Adtalem

Global

Education,

Inc.

a

1,628,471

54,379

Advance

Auto

Parts,

Inc.

3,041,417

107,084

American

Axle

&

Manufacturing

Holdings,

Inc.

a

777,430

169,790

American

Eagle

Outfitters,

Inc.

2,820,212

5,463

America's

Car-Mart,

Inc.

a

497,078

18,822

Asbury

Automotive

Group,

Inc.

a

4,330,377

21,565

BJ's

Restaurants,

Inc.

a

505,915

79,676

Bloomin'

Brands,

Inc.

1,959,233

27,437

Boot

Barn

Holdings,

Inc.

a

2,227,610

40,523

Brinker

International,

Inc.

a

1,280,122

27,233

Buckle,

Inc.

909,310

31,191

Caleres,

Inc.

897,053

7,382

Cavco

Industries,

Inc.

a

1,961,102

26,070

Century

Communities,

Inc.

1,740,955

43,155

Cheesecake

Factory,

Inc.

1,307,596

112,937

Chico's

FAS,

Inc.

a

844,769

16,502

Chuy's

Holdings,

Inc.

a

587,141

20,265

Cracker

Barrel

Old

Country

Store,

Inc.

1,361,808

117,515

Dana,

Inc.

1,723,945

31,411

Dave

&

Buster's

Entertainment,

Inc.

a

1,164,406

45,048

Designer

Brands,

Inc.

b

570,308

14,226

Dine

Brands

Global,

Inc.

703,476

25,925

Dorman

Products,

Inc.

a

1,964,078

20,876

Ethan

Allen

Interiors,

Inc.

624,192

74,752

Foot

Locker,

Inc.

1,296,947

73,493

Frontdoor,

Inc.

a

2,248,151

30,180

Gentherm,

Inc.

a

1,637,567

37,121

G-III

Apparel

Group,

Ltd.

a

925,055

19,804

Golden

Entertainment,

Inc.

676,901

23,247

Green

Brick

Partners,

Inc.

a

964,983

Shares

Common

Stock

(99.1%)

Value

Consumer

Discretionary

(13.7%)

-

continued

12,854

Group

1

Automotive,

Inc.

$

3,453,998

24,976

Guess

?,

Inc.

b

540,481

320,076

Hanesbrands,

Inc.

1,267,501

12,287

Haverty

Furniture

Companies,

Inc.

353,620

11,661

Hibbet,

Inc.

554,014

21,572

Installed

Building

Products,

Inc.

2,694,127

25,243

iRobot

Corporation

a

956,710

18,395

Jack

in

the

Box,

Inc.

1,270,359

45,694

Kontoor

Brands,

Inc.

2,006,423

39,595

La-Z-Boy,

Inc.

1,222,694

23,166

LCI

Industries

2,720,152

168,327

Leslie's,

Inc.

a

952,731

18,740

LGI

Homes,

Inc.

a

1,864,443

54,556

M.D.C.

Holdings,

Inc.

2,249,344

25,430

M/I

Homes,

Inc.

a

2,137,137

18,239

MarineMax,

Inc.

a

598,604

33,633

Meritage

Homes

Corporation

4,116,343

82,904

Mister

Car

Wash,

Inc.

a,b

456,801

12,259

Monarch

Casino

&

Resort,

Inc.

761,284

28,741

Monro,

Inc.

798,138

14,287

Movado

Group,

Inc.

390,749

71,499

National

Vision

Holdings,

Inc.

a

1,156,854

348,596

Newell

Brands,

Inc.

3,147,822

30,978

ODP

Corporation

a

1,429,635

13,519

Oxford

Industries,

Inc.

1,299,581

29,948

Papa

John's

International,

Inc.

2,043,052

19,100

Patrick

Industries,

Inc.

1,433,646

60,020

Perdoceo

Education

Corporation

1,026,342

43,008

Phinia,

Inc.

1,152,184

304,016

Sabre

Corporation

a

1,365,032

98,588

Sally

Beauty

Holdings,

Inc.

a

826,167

34,295

Shake

Shack,

Inc.

a

1,991,511

16,505

Shoe

Carnival,

Inc.

396,615

41,540

Signet

Jewelers,

Ltd.

2,982,987

65,522

Six

Flags

Entertainment

Corporation

a

1,540,422

19,305

Sleep

Number

Corporation

a

474,710

14,564

Sonic

Automotive,

Inc.

695,577

117,330

Sonos,

Inc.

a

1,514,730

17,092

Standard

Motor

Products,

Inc.

574,633

64,764

Steven

Madden,

Ltd.

2,057,552

20,136

Strategic

Education,

Inc.

1,515,234

37,009

Stride,

Inc.

a

1,666,515

16,213

Sturm,

Ruger

&

Company,

Inc.

845,022

90,559

Tri

Pointe

Homes,

Inc.

a

2,476,789

41,992

Upbound

Group,

Inc.

1,236,664

51,728

Urban

Outfitters,

Inc.

a

1,690,988

70,576

Victoria's

Secret

&

Company

a

1,177,208

53,063

Vista

Outdoor,

Inc.

a

1,757,447

27,637

Winnebago

Industries,

Inc.

1,643,020

72,740

Wolverine

World

Wide,

Inc.

586,284

19,457

XPEL,

Inc.

a

1,500,329

Total

123,635,614

Consumer

Staples

(5.0%)

28,807

Andersons,

Inc.

1,483,849

66,133

B&G

Foods,

Inc.

654,055

16,269

Calavo

Growers,

Inc.

410,467

37,186

Cal-Maine

Foods,

Inc.

1,800,546

8,715

Central

Garden

&

Pet

Company

a

384,680

37,503

Central

Garden

&

Pet

Company,

Class

A

a

1,503,495

32,295

Chefs'

Warehouse,

Inc.

a

684,008

49,817

e.l.f.

Beauty,

Inc.

a

5,471,401

46,483

Edgewell

Personal

Care

Company

1,718,012

Small

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

365

Shares

Common

Stock

(99.1%)

Value

Consumer

Staples

(5.0%)

-

continued

60,817

Energizer

Holdings,

Inc.

$

1,948,577

30,814

Fresh

Del

Monte

Produce,

Inc.

796,234

81,823

Hain

Celestial

Group,

Inc.

a

848,504

121,540

Hostess

Brands,

Inc.

a

4,048,497

16,364

Inter

Parfums,

Inc.

2,198,340

14,117

J

&

J

Snack

Foods

Corporation

2,310,247

8,195

John

B.

Sanfilippo

&

Son,

Inc.

809,666

9,961

Medifast,

Inc.

745,581

14,299

MGP

Ingredients,

Inc.

1,508,259

21,350

National

Beverage

Corporation

a

1,003,877

45,702

Nu

Skin

Enterprises,

Inc.

969,339

23,575

PriceSmart,

Inc.

1,754,687

82,871

Simply

Good

Foods

Company

a

2,860,707

31,782

SpartanNash

Company

699,204

15,927

Tootsie

Roll

Industries,

Inc.

b

475,580

46,934

TreeHouse

Foods,

Inc.

a

2,045,384

53,608

United

Natural

Foods,

Inc.

a

758,017

22,538

Universal

Corporation

1,064,019

10,241

USANA

Health

Sciences,

Inc.

a

600,225

121,250

Vector

Group,

Ltd.

1,290,100

12,407

WD-40

Company

2,521,599

Total

45,367,156

Energy

(5.3%)

125,986

Archrock,

Inc.

1,587,424

21,909

Bristow

Group,

Inc.

a

617,176

59,301

California

Resources

Corporation

3,321,449

51,127

Callon

Petroleum

Company

a

2,000,088

84,069

Comstock

Resources,

Inc.

927,281

27,212

CONSOL

Energy,

Inc.

2,854,811

42,703

Core

Laboratories,

Inc.

1,025,299

26,670

CVR

Energy,

Inc.

907,580

31,038

Dorian

LPG,

Ltd.

891,722

31,263

Dril-Quip,

Inc.

a

880,679

54,456

Green

Plains,

Inc.

a

1,639,126

129,690

Helix

Energy

Solutions

Group,

Inc.

a

1,448,637

90,956

Helmerich

&

Payne,

Inc.

3,834,705

141,846

Liberty

Energy,

Inc.

2,626,988

8,208

Nabors

Industries,

Ltd.

a

1,010,733

76,587

Northern

Oil

and

Gas,

Inc.

3,081,095

92,193

Oceaneering

International,

Inc.

a

2,371,204

58,458

Oil

States

International,

Inc.

a

489,293

51,395

Par

Pacific

Holdings,

Inc.

a

1,847,136

293,217

Patterson-UTI

Energy,

Inc.

4,058,123

79,436

ProPetro

Holding

Corporation

a

844,405

13,840

REX

American

Resources

Corporation

a

563,565

77,879

RPC,

Inc.

696,238

108,555

SM

Energy

Company

4,304,206

91,924

Talos

Energy,

Inc.

a

1,511,231

70,546

U.S.

Silica

Holdings,

Inc.

a

990,466

15,311

Vital

Energy,

Inc.

a

848,536

55,068

World

Kinect

Corporation

1,235,175

Total

48,414,371

Financials

(17.9%)

41,444

Ambac

Financial

Group,

Inc.

a

499,815

56,585

American

Equity

Investment

Life

Holding

Company

3,035,219

59,453

Ameris

Bancorp

2,282,401

17,546

AMERISAFE,

Inc.

878,528

118,965

Apollo

Commercial

Real

Estate

Finance,

Inc.

1,205,115

170,611

Arbor

Realty

Trust,

Inc.

2,589,875

208,856

ARMOUR

Residential

REIT,

Inc.

887,638

Shares

Common

Stock

(99.1%)

Value

Financials

(17.9%)

-

continued

62,634

Artisan

Partners

Asset

Management,

Inc.

$

2,343,764

50,902

Assured

Guaranty,

Ltd.

3,080,589

68,614

Atlantic

Union

Bankshares

Corporation

1,974,711

33,628

Avantax,

Inc.

a

860,204

47,990

Axos

Financial,

Inc.

a

1,816,901

15,102

B.

Riley

Financial,

Inc.

b

619,031

47,935

Banc

of

California,

Inc.

b

593,435

13,260

BancFirst

Corporation

1,150,040

49,657

Bancorp,

Inc.

a

1,713,166

36,343

Bank

of

Hawaii

Corporation

b

1,805,884

68,075

BankUnited,

Inc.

1,545,302

31,419

Banner

Corporation

1,331,537

40,259

Berkshire

Hills

Bancorp,

Inc.

807,193

157,631

Blackstone

Mortgage

Trust,

Inc.

3,428,474

45,945

Bread

Financial

Holdings,

Inc.

1,571,319

29,618

BrightSphere

Investment

Group

574,293

81,110

Brookline

Bancorp,

Inc.

738,912

115,863

Capitol

Federal

Financial,

Inc.

552,667

66,356

Cathay

General

Bancorp

2,306,535

24,737

Central

Pacific

Financial

Corporation

412,613

13,728

City

Holding

Company

1,240,325

48,966

Community

Bank

System,

Inc.

2,066,855

25,762

Customers

Bancorp,

Inc.

a

887,501

121,098

CVB

Financial

Corporation

2,006,594

31,967

Dime

Community

Bancshares,

Inc.

638,061

22,802

Donnelley

Financial

Solutions,

Inc.

a

1,283,297

27,358

Eagle

Bancorp,

Inc.

586,829

62,222

Ellington

Financial,

Inc.

b

775,908

23,843

Employers

Holdings,

Inc.

952,528

21,484

Encore

Capital

Group,

Inc.

a

1,026,076

28,164

Enova

International,

Inc.

a

1,432,703

59,124

EVERTEC,

Inc.

2,198,230

47,663

EZCORP,

Inc.

a

393,220

32,109

FB

Financial

Corporation

910,611

163,106

First

Bancorp/Puerto

Rico

2,195,407

37,583

First

Bancorp/Southern

Pines,

NC

1,057,586

93,681

First

Commonwealth

Financial

Corporation

1,143,845

87,020

First

Financial

Bancorp

1,705,592

116,737

First

Hawaiian,

Inc.

2,107,103

75,206

Franklin

BSP

Realty

Trust,

Inc.

995,727

150,053

Fulton

Financial

Corporation

1,817,142

423,631

Genworth

Financial,

Inc.

a

2,482,478

21,863

Goosehead

Insurance,

Inc.

a

1,629,449

41,178

Green

Dot

Corporation

a

573,610

27,889

Hanmi

Financial

Corporation

452,638

98,002

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc.

2,077,642

5,504

HCI

Group,

Inc.

298,812

32,062

Heritage

Financial

Corporation

522,931

42,278

Hilltop

Holdings,

Inc.

1,199,004

109,792

Hope

Bancorp,

Inc.

971,659

37,362

Horace

Mann

Educators

Corporation

1,097,696

40,375

Independent

Bank

Corporation

1,982,009

32,858

Independent

Bank

Group,

Inc.

1,299,534

40,782

Invesco

Mortgage

Capital,

Inc.

408,228

66,689

Jackson

Financial,

Inc.

2,548,854

34,415

James

River

Group

Holdings,

Ltd.

528,270

53,103

KKR

Real

Estate

Finance

Trust,

Inc.

630,333

23,266

Lakeland

Financial

Corporation

1,104,204

155,184

Lincoln

National

Corporation

3,831,493

Small

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

366

Shares

Common

Stock

(99.1%)

Value

Financials

(17.9%)

-

continued

24,314

Mercury

General

Corporation

$

681,521

60,901

Moelis

&

Company

2,748,462

61,153

Mr.

Cooper

Group,

Inc.

a

3,275,355

34,506

National

Bank

Holdings

Corporation

1,026,899

80,094

Navient

Corporation

1,379,219

43,206

NBT

Bancorp,

Inc.

1,369,198

83,475

New

York

Mortgage

Trust,

Inc.

708,703

75,270

NMI

Holdings,

Inc.

a

2,039,064

36,216

Northfield

Bancorp,

Inc.

342,241

116,267

Northwest

Bancshares,

Inc.

1,189,411

43,115

OFG

Bancorp

1,287,414

87,730

Pacific

Premier

Bancorp,

Inc.

1,909,005

108,443

PacWest

Bancorp

b

857,784

22,634

Palomar

Holdings,

Inc.

a

1,148,675

13,151

Park

National

Corporation

1,243,033

23,991

Pathward

Financial,

Inc.

1,105,745

236,569

Payoneer

Global,

Inc.

a

1,447,802

79,368

PennyMac

Mortgage

Investment

Trust

984,163

13,735

Piper

Sandler

Companies

1,995,833

35,898

PRA

Group,

Inc.

a

689,601

11,965

Preferred

Bank/Los

Angeles,

CA

744,821

47,629

ProAssurance

Corporation

899,712

41,815

PROG

Holdings,

Inc.

a

1,388,676

69,103

Provident

Financial

Services,

Inc.

1,056,585

144,013

Radian

Group,

Inc.

3,616,166

144,538

Ready

Capital

Corporation

1,461,279

104,450

Redwood

Trust,

Inc.

744,728

51,354

Renasant

Corporation

1,344,961

34,984

S&T

Bancorp,

Inc.

947,367

13,532

Safety

Insurance

Group,

Inc.

922,747

77,836

Seacoast

Banking

Corporation

of

Florida

1,709,279

44,807

ServisFirst

Bancshares,

Inc.

2,337,581

115,504

Simmons

First

National

Corporation

1,958,948

80,941

SiriusPoint,

Ltd.

a

823,170

26,534

Southside

Bancshares,

Inc.

761,526

42,914

Stellar

Bancorp,

Inc.

914,926

25,016

Stewart

Information

Services

Corporation

1,095,701

16,360

StoneX

Group,

Inc.

a

1,585,611

11,431

Tompkins

Financial

Corporation

560,005

19,802

Triumph

Financial,

Inc.

a

1,282,972

32,548

Trupanion,

Inc.

a,b

917,854

17,403

TrustCo

Bank

Corporation

NY

474,928

55,867

Trustmark

Corporation

1,213,990

87,972

Two

Harbors

Investment

Corporation

1,164,749

108,726

United

Community

Banks,

Inc.

2,762,728

19,393

United

Fire

Group,

Inc.

383,012

49,638

Veritex

Holdings,

Inc.

891,002

6,239

Virtus

Investment

Partners,

Inc.

1,260,216

30,504

Walker

&

Dunlop,

Inc.

2,264,617

59,215

Washington

Federal,

Inc.

1,517,088

24,378

Westamerica

Bancorporation

1,054,349

104,513

WisdomTree,

Inc.

731,591

3,120

World

Acceptance

Corporation

a

396,427

55,855

WSFS

Financial

Corporation

2,038,707

Total

162,322,292

Health

Care

(9.8%)

74,706

AdaptHealth

Corporation

a

679,825

14,833

Addus

HomeCare

Corporation

a

1,263,623

Shares

Common

Stock

(99.1%)

Value

Health

Care

(9.8%)

-

continued

32,106

Agiliti,

Inc.

a

$

208,368

34,751

AMN

Healthcare

Services,

Inc.

a

2,960,090

34,861

Amphastar

Pharmaceuticals,

Inc.

a

1,603,257

14,657

ANI

Pharmaceuticals,

Inc.

a

850,985

38,480

Apollo

Medical

Holdings,

Inc.

a

1,187,108

49,072

Arcus

Biosciences,

Inc.

a

880,842

35,666

Artivion,

Inc.

a

540,697

42,879

Avanos

Medical,

Inc.

a

867,013

57,384

Avid

Bioservices,

Inc.

a

541,705

31,430

BioLife

Solutions,

Inc.

a

434,048

91,652

Catalyst

Pharmaceuticals,

Inc.

a

1,071,412

97,929

Certara,

Inc.

a

1,423,888

31,775

Collegium

Pharmaceutical,

Inc.

a

710,171

116,379

Community

Health

Systems,

Inc.

a

337,499

28,121

CONMED

Corporation

2,836,003

82,553

Corcept

Therapeutics,

Inc.

a

2,249,157

8,298

CorVel

Corporation

a

1,631,802

30,787

Cross

Country

Healthcare,

Inc.

a

763,210

91,051

Cytek

Biosciences,

Inc.

a

502,602

87,819

Cytokinetics,

Inc.

a

2,587,148

117,823

Dynavax

Technologies

Corporation

a

1,740,246

52,422

Embecta

Corporation

788,951

45,831

Enhabit,

Inc.

a

515,599

51,413

Ensign

Group,

Inc.

4,777,810

81,051

Fortrea

Holdings,

Inc.

a

2,317,248

18,616

Fulgent

Genetics,

Inc.

a

497,792

44,505

Glaukos

Corporation

a

3,349,001

30,737

Harmony

Biosciences

Holdings,

Inc.

a

1,007,252

22,177

HealthStream,

Inc.

478,580

52,405

Innoviva,

Inc.

a

680,741

30,470

Integer

Holdings

Corporation

a

2,389,762

125,607

Ironwood

Pharmaceuticals,

Inc.

a

1,209,595

24,223

iTeos

Therapeutics,

Inc.

a

265,242

18,126

LeMaitre

Vascular,

Inc.

987,504

14,924

Ligand

Pharmaceuticals,

Inc.

a

894,246

52,724

Merit

Medical

Systems,

Inc.

a

3,639,010

4,679

Mesa

Laboratories,

Inc.

491,623

11,286

ModivCare,

Inc.

a

355,622

74,906

Myriad

Genetics,

Inc.

a

1,201,492

116,708

NeoGenomics,

Inc.

a

1,435,508

49,659

NextGen

Healthcare,

Inc.

a

1,178,408

6,287

OmniAb,

Inc.,

12.5

Earnout

Share

a,c

1

6,287

OmniAb,

Inc.,

15.0

Earnout

Share

a,c

1

41,360

Omnicell,

Inc.

a

1,862,854

67,160

OraSure

Technologies,

Inc.

a

398,259

33,603

Orthofix

Medical,

Inc.

a

432,135

70,010

Owens

&

Minor,

Inc.

a

1,131,362

42,462

Pacira

Pharmaceuticals,

Inc.

a

1,302,734

75,696

Pediatrix

Medical

Group,

Inc.

a

962,096

18,605

Phibro

Animal

Health

Corporation

237,586

108,932

Premier,

Inc.

2,342,038

45,318

Prestige

Consumer

Healthcare,

Inc.

a

2,591,736

93,406

Privia

Health

Group,

Inc.

a

2,148,338

55,179

RadNet,

Inc.

a

1,555,496

36,997

REGENXBIO,

Inc.

a

608,971

49,914

Schrodinger,

Inc./United

States

a

1,411,069

95,374

Select

Medical

Holdings

Corporation

2,410,101

14,583

Simulations

Plus,

Inc.

608,111

44,368

STAAR

Surgical

Company

a

1,782,706

49,942

Supernus

Pharmaceuticals,

Inc.

a

1,376,901

Small

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

367

Shares

Common

Stock

(99.1%)

Value

Health

Care

(9.8%)

-

continued

59,533

Tandem

Diabetes

Care,

Inc.

a

$

1,236,500

13,710

U.S.

Physical

Therapy,

Inc.

1,257,618

6,429

UFP

Technologies,

Inc.

a

1,037,962

36,958

Varex

Imaging

Corporation

a

694,441

99,951

Veradigm

Inc.

a

1,313,356

43,583

Vericel

Corporation

a

1,460,902

78,600

Vir

Biotechnology,

Inc.

a

736,482

55,449

Xencor,

Inc.

a

1,117,297

Total

88,348,738

Industrials

(17.1%)

122,104

3D

Systems

Corporation

a

599,531

61,964

AAON,

Inc.

3,523,893

30,407

AAR

Corporation

a

1,810,129

60,510

ABM

Industries,

Inc.

2,421,005

23,981

AeroVironment,

Inc.

a

2,674,601

9,449

Alamo

Group,

Inc.

1,633,354

28,522

Albany

International

Corporation

2,460,878

13,838

Allegiant

Travel

Company

1,063,589

14,982

American

Woodmark

Corporation

a

1,132,789

20,197

Apogee

Enterprises,

Inc.

950,875

35,361

Applied

Industrial

Technologies,

Inc.

5,467,164

21,978

ArcBest

Corporation

2,234,064

44,607

Arcosa,

Inc.

3,207,243

20,800

Astec

Industries,

Inc.

979,888

22,882

AZZ,

Inc.

1,042,962

46,313

Barnes

Group,

Inc.

1,573,253

36,217

Boise

Cascade

Company

3,731,800

42,000

Brady

Corporation

2,306,640

18,653

CIRCOR

International,

Inc.

a

1,039,905

32,722

Comfort

Systems

USA,

Inc.

5,576,156

103,926

CoreCivic,

Inc.

a

1,169,167

27,824

CSG

Systems

International,

Inc.

1,422,363

39,901

Deluxe

Corporation

753,730

12,547

DXP

Enterprises,

Inc.

a

438,392

26,826

Dycom

Industries,

Inc.

a

2,387,514

15,373

Encore

Wire

Corporation

2,804,958

51,324

Enerpac

Tool

Group

Corporation

1,356,493

19,123

EnPro

Industries,

Inc.

2,317,516

72,960

Enviri

Corporation

a

526,771

23,586

ESCO

Technologies,

Inc.

2,463,322

55,796

Federal

Signal

Corporation

3,332,695

10,545

Forrester

Research,

Inc.

a

304,750

23,507

Forward

Air

Corporation

1,615,871

36,395

Franklin

Electric

Company,

Inc.

3,247,526

115,359

GEO

Group,

Inc.

a

943,637

27,832

Gibraltar

Industries,

Inc.

a

1,878,938

37,300

GMS,

Inc.

a

2,386,081

40,178

Granite

Construction,

Inc.

1,527,568

28,252

Greenbrier

Companies,

Inc.

1,130,080

37,464

Griffon

Corporation

1,486,197

47,233

Hawaiian

Holdings,

Inc.

a

298,985

115,037

Hayward

Holdings,

Inc.

a

1,622,022

67,873

Healthcare

Services

Group,

Inc.

707,915

41,930

Heartland

Express,

Inc.

615,952

18,303

Heidrick

&

Struggles

International,

Inc.

457,941

63,958

Hillenbrand,

Inc.

2,706,063

42,583

HNI

Corporation

1,474,649

28,738

Hub

Group,

Inc.

a

2,257,083

17,777

Insteel

Industries,

Inc.

577,041

53,156

Interface,

Inc.

521,460

304,856

JetBlue

Airways

Corporation

a

1,402,338

Shares

Common

Stock

(99.1%)

Value

Industrials

(17.1%)

-

continued

29,125

John

Bean

Technologies

Corporation

$

3,062,202

25,816

Kaman

Corporation

507,284

100,129

KAR

Auction

Services,

Inc.

a

1,493,925

29,331

Kelly

Services,

Inc.

533,531

72,919

Kennametal,

Inc.

1,814,225

49,019

Korn

Ferry

2,325,461

10,071

Lindsay

Corporation

1,185,155

20,496

Liquidity

Services,

Inc.

a

361,140

52,805

Marten

Transport,

Ltd.

1,040,787

116,804

Masterbrand,

Inc.

a

1,419,169

32,282

Matson,

Inc.

2,864,059

27,872

Matthews

International

Corporation

1,084,500

46,844

Mercury

Systems,

Inc.

a

1,737,444

69,251

MillerKnoll,

Inc.

1,693,187

26,275

Moog,

Inc.

2,968,024

51,941

Mueller

Industries,

Inc.

3,903,886

15,286

MYR

Group,

Inc.

a

2,059,941

4,791

National

Presto

Industries,

Inc.

347,156

97,626

NOW,

Inc.

a

1,158,821

11,629

NV5

Global,

Inc.

a

1,119,059

53,379

PGT

Innovations,

Inc.

a

1,481,267

140,094

Pitney

Bowes,

Inc.

423,084

8,355

Powell

Industries,

Inc.

692,629

23,872

Proto

Labs,

Inc.

a

630,221

30,145

Quanex

Building

Products

Corporation

849,185

135,073

Resideo

Technologies,

Inc.

a

2,134,153

29,264

Resources

Connection,

Inc.

436,326

107,015

RXO,

Inc.

a

2,111,406

38,479

SkyWest,

Inc.

a

1,613,809

41,706

SPX

Technologies,

Inc.

a

3,394,868

10,839

Standex

International

Corporation

1,579,134

36,893

Sun

Country

Airlines

Holdings,

Inc.

a

547,492

78,530

SunPower

Corporation

a,b

484,530

17,000

Tennant

Company

1,260,550

47,054

Titan

International,

Inc.

a

631,935

74,880

Trinity

Industries,

Inc.

1,823,328

70,177

Triumph

Group,

Inc.

a

537,556

28,363

TrueBlue,

Inc.

a

416,085

17,351

TTEC

Holdings,

Inc.

454,943

13,817

UniFirst

Corporation/MA

2,252,309

12,396

Veritiv

Corporation

2,093,684

155,215

Verra

Mobility

Corporation

a

2,902,520

19,100

Viad

Corporation

a

500,420

42,995

Wabash

National

Corporation

908,054

Total

154,403,181

Information

Technology

(12.7%)

63,729

A10

Networks,

Inc.

957,847

97,657

Adeia,

Inc.

1,042,977

64,758

Adtran

Holdings,

Inc.

532,958

34,443

Advanced

Energy

Industries,

Inc.

3,551,762

18,555

Agilysys,

Inc.

a

1,227,599

45,654

Alarm.com

Holdings,

Inc.

a

2,791,286

20,491

Alpha

and

Omega

Semiconductor,

Ltd.

a

611,451

86,041

Arlo

Technologies,

Inc.

a

886,222

31,020

Avid

Technology,

Inc.

a

833,507

30,021

Axcelis

Technologies,

Inc.

a

4,894,924

26,820

Badger

Meter,

Inc.

3,858,593

32,632

Benchmark

Electronics,

Inc.

791,652

36,897

Cerence,

Inc.

a

751,592

21,619

CEVA,

Inc.

a

419,192

Small

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

368

Shares

Common

Stock

(99.1%)

Value

Information

Technology

(12.7%)

-

continued

11,861

Clearfield,

Inc.

a

$

339,936

43,543

Cohu,

Inc.

a

1,499,621

16,717

Consensus

Cloud

Solutions,

Inc.

a

420,934

39,490

Corsair

Gaming,

Inc.

a

573,790

28,683

CTS

Corporation

1,197,228

32,904

Digi

International,

Inc.

a

888,408

82,757

Digital

Turbine,

Inc.

a

500,680

41,851

Diodes,

Inc.

a

3,299,533

114,855

DoubleVerify

Holdings,

Inc.

a

3,210,197

22,332

Ebix,

Inc.

220,640

24,643

ePlus,

Inc.

a

1,565,323

116,888

Extreme

Networks,

Inc.

a

2,829,859

33,204

Fabrinet

a

5,532,451

71,039

FormFactor,

Inc.

a

2,482,103

102,380

Harmonic,

Inc.

a

985,919

26,760

Ichor

Holdings,

Ltd.

a

828,490

27,661

Insight

Enterprises,

Inc.

a

4,024,676

24,157

InterDigital,

Inc.

1,938,358

41,587

Itron,

Inc.

a

2,519,341

83,378

Knowles

Corporation

a

1,234,828

51,661

Kulicke

and

Soffa

Industries,

Inc.

2,512,274

60,550

LiveRamp

Holding,

Inc.

a

1,746,262

67,443

MaxLinear,

Inc.

a

1,500,607

32,943

Methode

Electronics,

Inc.

752,748

63,447

N-able,

Inc.

a

818,466

66,001

NetScout

Systems,

Inc.

a

1,849,348

32,915

OneSpan,

Inc.

a

353,836

44,885

Onto

Innovation,

Inc.

a

5,723,735

14,079

OSI

Systems,

Inc.

a

1,661,885

10,329

PC

Connection,

Inc.

551,362

27,903

PDF

Solutions,

Inc.

a

904,057

31,849

Perficient,

Inc.

a

1,842,783

57,191

Photronics,

Inc.

a

1,155,830

25,140

Plexus

Corporation

a

2,337,517

39,671

Progress

Software

Corporation

2,085,901

99,833

Rambus,

Inc.

a

5,569,683

15,327

Rogers

Corporation

a

2,015,041

52,351

Sanmina

Corporation

a

2,841,612

22,778

ScanSource,

Inc.

a

690,401

58,509

Semtech

Corporation

a

1,506,607

15,645

SiTime

Corporation

a

1,787,441

45,802

SMART

Global

Holdings,

Inc.

a

1,115,279

33,528

SPS

Commerce,

Inc.

a

5,720,212

95,021

TTM

Technologies,

Inc.

a

1,223,871

40,890

Ultra

Clean

Holdings,

Inc.

a

1,213,206

51,545

Veeco

Instruments,

Inc.

a

1,448,930

68,091

ViaSat,

Inc.

a

1,256,960

203,496

Viavi

Solutions,

Inc.

a

1,859,954

103,488

Xerox

Holdings

Corporation

1,623,727

39,608

Xperi,

Inc.

a

390,535

Total

115,303,947

Materials

(5.2%)

24,894

AdvanSix,

Inc.

773,706

117,629

Allegheny

Technologies,

Inc.

a

4,840,433

24,925

American

Vanguard

Corporation

272,430

29,493

Balchem

Corporation

3,658,312

44,413

Carpenter

Technology

Corporation

2,984,998

47,328

Century

Aluminum

Company

a

340,288

15,289

Clearwater

Paper

Corporation

a

554,226

30,860

Compass

Minerals

International,

Inc.

862,537

49,280

H.B.

Fuller

Company

3,381,101

17,566

Hawkins,

Inc.

1,033,759

11,647

Haynes

International,

Inc.

541,818

Shares

Common

Stock

(99.1%)

Value

Materials

(5.2%)

-

continued

30,818

Ingevity

Corporation

a

$

1,467,245

22,747

Innospec,

Inc.

2,324,743

14,649

Kaiser

Aluminum

Corporation

1,102,484

19,094

Koppers

Holdings,

Inc.

755,168

164,403

Livent

Corporation

a,b

3,026,659

18,879

Materion

Corporation

1,923,959

50,047

Mativ,

Inc.

713,670

40,166

Mercer

International,

Inc.

344,624

29,771

Minerals

Technologies,

Inc.

1,630,260

33,674

Myers

Industries,

Inc.

603,775

141,848

O-I

Glass,

Inc.

a

2,373,117

8,962

Olympic

Steel,

Inc.

503,754

12,677

Quaker

Chemical

Corporation

2,028,320

38,650

Sensient

Technologies

Corporation

2,260,252

19,424

Stepan

Company

1,456,217

76,620

SunCoke

Energy,

Inc.

777,693

32,553

Sylvamo

Corporation

1,430,379

35,380

TimkenSteel

Corporation

a

768,454

47,586

Warrior

Met

Coal,

Inc.

2,430,693

Total

47,165,074

Real

Estate

(7.7%)

87,078

Acadia

Realty

Trust

1,249,569

66,437

Alexander

&

Baldwin,

Inc.

1,111,491

44,441

American

Assets

Trust,

Inc.

864,377

101,071

Anywhere

Real

Estate,

Inc.

a

649,887

194,653

Apple

Hospitality

REIT,

Inc.

2,985,977

62,158

Armada

Hoffler

Properties,

Inc.

636,498

157,435

Brandywine

Realty

Trust

714,755

91,000

CareTrust

REIT,

Inc.

1,865,500

13,675

Centerspace

824,055

44,694

Chatham

Lodging

Trust

427,722

22,595

Community

Healthcare

Trust,

Inc.

671,071

153,770

Cushman

and

Wakefield

plc

a

1,171,727

191,766

DiamondRock

Hospitality

Company

1,539,881

152,531

Douglas

Emmett,

Inc.

1,946,296

85,457

Easterly

Government

Properties,

Inc.

976,774

80,340

Elme

Communities

1,095,838

142,717

Essential

Properties

Realty

Trust,

Inc.

3,086,969

70,251

eXp

World

Holdings,

Inc.

b

1,140,876

82,850

Four

Corners

Property

Trust,

Inc.

1,838,441

42,040

Getty

Realty

Corporation

1,165,769

177,620

Global

Net

Lease,

Inc.

1,706,928

96,672

Highwoods

Properties,

Inc.

1,992,410

116,037

Hudson

Pacific

Properties,

Inc.

771,646

25,651

Innovative

Industrial

Properties,

Inc.

1,940,755

86,109

JBG

SMITH

Properties

1,245,136

108,387

Kennedy-Wilson

Holdings,

Inc.

1,597,624

37,881

LTC

Properties,

Inc.

1,217,117

267,675

LXP

Industrial

Trust

2,382,308

196,916

Macerich

Company

2,148,354

21,814

Marcus

and

Millichap,

Inc.

640,023

20,903

NexPoint

Residential

Trust,

Inc.

672,659

132,863

Outfront

Media,

Inc.

1,341,916

110,235

Pebblebrook

Hotel

Trust

1,498,094

107,397

Phillips

Edison

and

Company,

Inc.

3,602,095

115,268

Retail

Opportunity

Investments

Corporation

1,427,018

73,025

RPT

Realty

771,144

40,957

Safehold,

Inc.

729,035

11,827

Saul

Centers,

Inc.

417,138

Small

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

369

/

Shares

Common

Stock

(99.1%)

Value

Real

Estate

(7.7%)

-

continued

151,367

Service

Properties

Trust

$

1,164,012

164,641

SITE

Centers

Corporation

2,030,024

58,902

SL

Green

Realty

Corporation

2,197,045

32,573

St.

Joe

Company

1,769,691

98,411

Summit

Hotel

Properties,

Inc.

570,784

189,532

Sunstone

Hotel

Investors,

Inc.

1,772,124

96,218

Tanger

Factory

Outlet

Centers,

Inc.

2,174,527

218,352

Uniti

Group,

Inc.

1,030,621

11,633

Universal

Health

Realty

Income

Trust

470,322

107,617

Urban

Edge

Properties

1,642,235

73,272

Veris

Residential,

Inc.

1,208,988

43,037

Whitestone

REIT

414,446

98,122

Xenia

Hotels

&

Resorts,

Inc.

1,155,877

Total

69,665,569

Utilities

(1.8%)

33,826

American

States

Water

Company

2,661,430

70,005

Avista

Corporation

2,266,062

52,786

California

Water

Service

Group

2,497,305

16,281

Chesapeake

Utilities

Corporation

1,591,468

16,236

Middlesex

Water

Company

1,075,635

32,992

Northwest

Natural

Holding

Company

1,258,975

38,157

Otter

Tail

Corporation

2,896,879

26,447

SJW

Group

1,589,729

14,721

Unitil

Corporation

628,734

Total

16,466,217

Total

Common

Stock

(cost

$750,802,525)

896,971,717

Shares

Collateral

Held

for

Securities

Loaned

(

1.2%

)

Value

10,641,025

Thrivent

Cash

Management

Trust

10,641,025

Total

Collateral

Held

for

Securities

Loaned

(cost

$10,641,025)

10,641,025

Shares

Registered

Investment

Companies

(

0.8%

)

Value

U.S.

Unaffiliated  (0.8%)

73,770

iShares

Core

S&P

Small-Cap

ETF

6,958,724

Total

6,958,724

Total

Registered

Investment

Companies

(cost

$6,196,521)

6,958,724

Shares

or

Principal

Amount

Short-Term

Investments

(

<0.1%

)

Value

Federal

Home

Loan

Bank

Discount

Notes

100,000

5.300%,

12/6/2023

d,e

99,075

Total

Short-Term

Investments

(cost

$99,014)

99,075

Total

Investments

(cost

$767,739,085)

101.1%

$914,670,541

Other

Assets

and

Liabilities,

Net

(1.1%)

(9,888,359)

Total

Net

Assets

100.0%

$904,782,182

a

Non-income

producing

security.

b

All

or

a

portion

of

the

security

is

on

loan.

c

Security

is

valued

using

significant

unobservable

inputs.

Further

information

on

valuation

can

be

found

in

the

Notes

to

Financial

Statements.

d

The

interest

rate

shown

reflects

the

yield.

e

All

or

a

portion

of

the

security

is

held

on

deposit

with

the

counterparty

and

pledged

as

the

initial

margin

deposit

for

open

futures

contracts.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Small

Cap

Index

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Common

Stock

$

10,517,163

Total

lending

$10,517,163

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$10,641,025

Net

amounts

due

to

counterparty

$123,862

Definitions:

ETF

-

Exchange

Traded

Fund

plc

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

is

a

company

that

buys,

develops,

manages

and/or

sells

real

estate

assets.

Small

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

370

Reference

Description:

CME

-

Chicago

Mercantile

Exchange

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Small

Cap

Index

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

25,879,558

25,879,558

–

–

Consumer

Discretionary

123,635,614

123,635,614

–

–

Consumer

Staples

45,367,156

45,367,156

–

–

Energy

48,414,371

48,414,371

–

–

Financials

162,322,292

162,322,292

–

–

Health

Care

88,348,738

88,348,736

–

2

Industrials

154,403,181

154,403,181

–

–

Information

Technology

115,303,947

115,303,947

–

–

Materials

47,165,074

47,165,074

–

–

Real

Estate

69,665,569

69,665,569

–

–

Utilities

16,466,217

16,466,217

–

–

Registered

Investment

Companies

U.S.

Unaffiliated

6,958,724

6,958,724

–

–

Short-Term

Investments

99,075

–

99,075

–

Subtotal

Investments

in

Securities

$

904,029,516

$903,930,439

$99,075

$2

Other

Investments  *

Total

Collateral

Held

for

Securities

Loaned

10,641,025

Subtotal

Other

Investments

$10,641,025

Total

Investments

at

Value

$914,670,541

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Small

Cap

Index

Portfolio's

other

financial

instrument

assets

carried

at

fair

value.

Other

Financial

Instruments

Total

Level

1

Level

2

Level

3

Liability

Derivatives

Futures

Contracts

39,089

39,089

–

–

Total

Liability

Derivatives

$39,089

$39,089

$–

$–

The

following

table

presents

Small

Cap

Index

Portfolio's

futures

contracts

held

as

of

September

29,

2023.

Investments

and/or

cash

totaling

$99,075

were

pledged

as

the

initial

margin

deposit

for

these

contracts.

Futures

Contracts

Description

Number

of

Contracts

Long/(Short)

Expiration

Date

Notional

Principal

Amount

Value

and

Unrealized

CME

E-mini

Russell

2000

Index

10

December

2023

$

938,389

(

$

39,089)

Total

Futures

Long

Contracts

$

938,389

(

$

39,089)

Total

Futures

Contracts

$

938,389

($39,089)

Small

Cap

Index

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

371

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

d

ate,

in

Small

Cap

Index

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$2,932

$34,480

$37,412

$–

–

–

Total

Affiliated

Short-Term

Investments

2,932

–

–

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

4,563

83,707

77,629

10,641

10,641

1.2%

Total

Collateral

Held

for

Securities

Loaned

4,563

10,641

1.2

Total

Value

$7,495

$10,641

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$14

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$14

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

88

Total

Affiliated

Income

from

Securities

Loaned,

Net

$88

Total

Value

$–

$–

$

–

Small

Cap

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

372

Shares

Common

Stock

(

97

.6

%

)

Value

Communications

Services

(2.4%)

955,024

QuinStreet,

Inc.

a

$

8,566,565

201,391

Ziff

Davis,

Inc.

a

12,826,593

Total

21,393,158

Consumer

Discretionary

(10.0%)

67,216

Boot

Barn

Holdings,

Inc.

a

5,457,267

255,568

Cedar

Fair,

LP

9,456,016

478,463

Clarus

Corporation

3,617,180

148,863

Columbia

Sportswear

Company

11,030,748

639,330

Cooper-Standard

Holdings,

Inc.

a

8,579,809

577,340

Everi

Holdings,

Inc.

a

7,632,435

56,776

Grand

Canyon

Education,

Inc.

a

6,635,979

36,973

Meritage

Homes

Corporation

4,525,126

114,515

Papa

John's

International,

Inc.

7,812,213

66,103

Skyline

Champion

Corporation

a

4,212,083

352,747

Sonos,

Inc.

a

4,553,964

524,726

Stoneridge,

Inc.

a

10,531,251

1,423,037

ThredUp,

Inc.

a

5,706,378

Total

89,750,449

Consumer

Staples

(4.3%)

116,291

John

B.

Sanfilippo

&

Son,

Inc.

11,489,551

381,095

Pilgrim's

Pride

Corporation

a

8,700,399

820,558

Primo

Water

Corporation

11,323,700

312,325

Turning

Point

Brands,

Inc.

7,211,584

Total

38,725,234

Energy

(2.2%)

648,913

NOV,

Inc.

13,562,282

315,916

TechnipFMC

plc

6,425,731

Total

19,988,013

Financials

(14.3%)

598,251

Ally

Financial,

Inc.

15,961,337

267,480

Bank

of

N.T.

Butterfield

&

Son,

Ltd.

7,243,358

625,668

Bridgewater

Bancshares,

Inc.

a

5,931,333

169,906

Byline

Bancorp,

Inc.

3,348,847

220,100

Federated

Hermes,

Inc.

7,454,787

152,628

Glacier

Bancorp,

Inc.

4,349,898

330,019

Heartland

Financial

USA,

Inc.

9,712,459

142,141

Houlihan

Lokey,

Inc.

15,226,144

21,041

Kinsale

Capital

Group,

Inc.

8,713,709

137,457

RLI

Corporation

18,679,032

193,332

Triumph

Financial,

Inc.

a

12,525,980

61,020

Voya

Financial,

Inc.

4,054,779

315,870

Western

Alliance

Bancorp

14,520,544

Total

127,722,207

Health

Care

(7.4%)

7,397

Agiliti,

Inc.

a

48,007

295,349

Enovis

Corporation

a

15,573,753

327,347

Halozyme

Therapeutics,

Inc.

a

12,504,655

87,834

Lantheus

Holdings,

Inc.

a

6,102,706

762,507

Maravai

LifeSciences

Holdings,

Inc.

a

7,625,070

233,643

Progyny,

Inc.

a

7,948,535

91,705

QuidelOrtho

Corporation

a

6,698,133

261,923

R1

RCM,

Inc.

a

3,947,180

782,516

Viemed

Healthcare,

Inc.

a

5,266,333

Total

65,714,372

Industrials

(26.4%)

438,214

Air

Lease

Corporation

17,270,014

193,198

ASGN,

Inc.

a

15,780,413

Shares

Common

Stock

(97.6%)

Value

Industrials

(26.4%)

-

continued

676,488

Badger

Infrastructure

Solutions,

Ltd.

$

17,277,650

317,638

Barnes

Group,

Inc.

10,790,163

176,547

Cimpress

plc

a

12,360,056

39,705

Curtiss-Wright

Corporation

7,767,489

327,560

ExlService

Holdings,

Inc.

a

9,184,782

323,292

Fluor

Corporation

a

11,864,816

242,296

Greenbrier

Companies,

Inc.

9,691,840

257,793

Helios

Technologies,

Inc.

14,302,356

933,287

Janus

International

Group,

Inc.

a

9,986,171

186,142

ManpowerGroup,

Inc.

13,647,931

755,875

Masterbrand,

Inc.

a

9,183,881

177,639

Maximus,

Inc.

13,266,081

247,338

Miller

Industries,

Inc.

9,698,123

70,551

Moog,

Inc.

7,969,441

188,160

RB

Global,

Inc.

11,760,000

482,283

Schneider

National,

Inc.

13,354,416

29,625

Simpson

Manufacturing

Company,

Inc.

4,438,121

152,245

Tennant

Company

11,288,967

58,810

Timken

Company

4,321,947

Total

235,204,658

Information

Technology

(15.4%)

93,071

Calix,

Inc.

a

4,266,375

155,325

Ciena

Corporation

a

7,340,659

291,606

Cohu,

Inc.

a

10,042,911

65,830

FormFactor,

Inc.

a

2,300,100

640,658

Gilat

Satellite

Networks,

Ltd.

a

4,119,431

136,314

Guidewire

Software,

Inc.

a

12,268,260

34,433

Insight

Enterprises,

Inc.

a

5,010,001

690,853

Knowles

Corporation

a

10,231,533

39,900

Littelfuse,

Inc.

9,868,068

152,622

Plexus

Corporation

a

14,190,794

63,276

Silicon

Laboratories,

Inc.

a

7,333,056

164,124

Sprout

Social,

Inc.

a

8,186,505

1,743,105

TTM

Technologies,

Inc.

a

22,451,192

29,101

Universal

Display

Corporation

4,568,566

225,442

Varonis

Systems,

Inc.

a

6,884,999

78,413

Workiva,

Inc.

a

7,946,373

Total

137,008,823

Materials

(7.6%)

237,823

Alcoa

Corporation

6,911,136

74,267

Berry

Plastics

Group,

Inc.

4,597,870

147,012

Carpenter

Technology

Corporation

9,880,677

246,514

Ingevity

Corporation

a

11,736,532

851,052

Ivanhoe

Mines,

Ltd.

a

7,293,389

845,880

Tronox

Holdings

plc

11,368,627

78,275

United

States

Lime

&

Minerals,

Inc.

15,733,275

Total

67,521,506

Real

Estate

(5.3%)

190,466

Agree

Realty

Corporation

10,521,342

1,452,275

Cushman

and

Wakefield

plc

a

11,066,336

722,650

Independence

Realty

Trust,

Inc.

10,167,685

479,933

National

Storage

Affiliates

Trust

15,233,073

Total

46,988,436

Utilities

(2.3%)

68,800

Black

Hills

Corporation

3,480,592

80,712

NorthWestern

Corporation

3,879,019

166,977

Portland

General

Electric

Company

6,759,229

Small

Cap

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

373

Shares

Common

Stock

(97.6%)

Value

Utilities

(2.3%)

-

continued

110,961

Spire,

Inc.

$

6,278,173

Total

20,397,013

Total

Common

Stock

(cost

$840,516,297)

870,413,869

Shares

Registered

Investment

Companies

(

1

.9

%

)

Value

U.S.

Unaffiliated  (1.9%)

71,315

iShares

Biotechnology

ETF

b

8,721,111

112,753

SPDR

S&P

Biotech

ETF

b

8,233,224

Total

16,954,335

Total

Registered

Investment

Companies

(cost

$18,470,948)

16,954,335

Shares

Collateral

Held

for

Securities

Loaned

(

1

.5

%

)

Value

13,702,375

Thrivent

Cash

Management

Trust

13,702,375

Total

Collateral

Held

for

Securities

Loaned

(cost

$13,702,375)

13,702,375

Shares

Short-Term

Investments

(

0

.5

%

)

Value

Thrivent

Core

Short-Term

Reserve

Fund

422,851

5.650%

4,228,507

Total

Short-Term

Investments

(cost

$4,227,250)

4,228,507

Total

Investments

(cost

$876,916,870)

101.5%

$

905,299,086

Other

Assets

and

Liabilities,

Net

(1.5%)

(

13,733,566

)

Total

Net

Assets

100.0%

$

891,565,520

a

Non-income

producing

security.

b

All

or

a

portion

of

the

security

is

on

loan.

The

following

table

presents

the

total

amount

of

securities

loaned

with

continuous

maturity,

by

type,

offset

by

the

gross

payable

upon

return

of

collateral

for

securities

loaned

by

Thrivent

Small

Cap

Stock

Portfolio

as

of

September

29,

2023:

Securities

Lending

Transactions

Common

Stock

$

13,322,990

Total

lending

$13,322,990

Gross

amount

payable

upon

return

of              

collateral

for

securities

loaned

$13,702,375

Net

amounts

due

to

counterparty

$379,385

Definitions:

ETF

-

Exchange

Traded

Fund

plc

-

Public

Limited

Company

SPDR

-

S&P

Depository

Receipts,

which

are

exchange-traded

funds

traded

in

the

U.S.,

Europe,

and

Asia-Pacific

and

managed

by

State

Street

Global

Advisors.

Small

Cap

Stock

Portfolio

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

The

accompanying

Notes

to

Schedule

of

Investments

are

an

integral

part

of

this

schedule.

374

Fair

Valuation

Measurements

The

following

table

is

a

summary

of

the

inputs

used,

as

of

September

29,

2023,

in

valuing

Small

Cap

Stock

Portfolio's

assets

carried

at

fair

value.

Investments

in

Securities

Total

Level

1

Level

2

Level

3

Common

Stock

Communications

Services

21,393,158

21,393,158

–

–

Consumer

Discretionary

89,750,449

89,750,449

–

–

Consumer

Staples

38,725,234

38,725,234

–

–

Energy

19,988,013

19,988,013

–

–

Financials

127,722,207

127,722,207

–

–

Health

Care

65,714,372

65,714,372

–

–

Industrials

235,204,658

217,927,008

17,277,650

–

Information

Technology

137,008,823

137,008,823

–

–

Materials

67,521,506

60,228,117

7,293,389

–

Real

Estate

46,988,436

46,988,436

–

–

Utilities

20,397,013

20,397,013

–

–

Registered

Investment

Companies

U.S.

Unaffiliated

16,954,335

16,954,335

–

–

Subtotal

Investments

in

Securities

$

887,368,204

$

862,797,165

$

24,571,039

$

–

Other

Investments  *

Total

Affiliated

Short-Term

Investments

4,228,507

Collateral

Held

for

Securities

Loaned

13,702,375

Subtotal

Other

Investments

$

17,930,882

Total

Investments

at

Value

$

905,299,086

*

Certain

investments

are

measured

at

fair

value

using

a

net

asset

value

per

share

that

is

not

publicly

available

(practical

expedient).  According

to

disclosure

requirements

of

Accounting

Standards

Codification

(ASC)

820,

Fair

Value

Measurement,

securities

valued

using

the

practical

expedient

are

not

classified

in

the

fair

value

hierarchy.  The

fair

value

amounts

presented

in

the

table

above

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Statement

of

Assets

and

Liabilities.  

Investment

in

Affiliates

Affiliated

issuers,

as

defined

under

the

Investment

Company

Act

of

1940,

include

those

in

which

the

Portfolio's

holdings

of

an

issuer

represent

5%

or

more

of

the

outstanding

voting

securities

of

an

issuer,

any

affiliated

mutual

fund,

or

a

company

which

is

under

common

ownership

or

control

with

the

Portfolio.

The

Portfolio

owns

shares

of

Thrivent

Cash

Management

Trust

for

the

purpose

of

securities

lending

and

Thrivent

Core

Short-Term

Reserve

Fund,

a

series

of

Thrivent

Core

Funds,

primarily

to

serve

as

a

cash

sweep

vehicle

for

the

Portfolio.

Thrivent

Cash

Management

Trust

and

Thrivent

Core

Funds

are

established

solely

for

investment

by

Thrivent

entities.

A

summary

of

transactions

(in

thousands;

values

shown

as

zero

are

less

than

$500)

for

the

fiscal

year

to

date,

in

Small

Cap

Stock

Portfolio,

is

as

follows:

Portfolio

Value

12/31/2022

Gross

Purchases

Gross

Sales

Value

9/29/2023

Shares

Held

at

9/29/2023

%

of

Net

Assets

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$

6,349

$

160,463

$

162,583

$

4,229

423

0.5%

Total

Affiliated

Short-Term

Investments

6,349

4,229

0.5

Collateral

held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

85,524

71,822

13,702

13,702

1.5

Total

Collateral

Held

for

Securities

Loaned

–

13,702

1.5

Total

Value

$

6,349

$

17,931

Portfolio

Net

Realized

Gain/(Loss)

Change

in

Unrealized

Appreciation/

(Depreciation)

Distributions

of

Realized

Capital

Gains

Income

Earned

1/1/2023

-

9/29/2023

Affiliated

Short-Term

Investments

Core

Short-Term

Reserve,

5.650%

$–

$–

$

–

$

727

Total

Income/Non

Income

Cash

from

Affiliated

Investments

$

727

Collateral

Held

for

Securities

Loaned

Cash

Management

Trust-

Collateral

Investment

–

–

–

47

Total

Affiliated

Income

from

Securities

Loaned,

Net

$

47

Total

Value

$–

$–

$

–

Notes

to

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

375

SIGNIFICANT

ACCOUNTING

POLICIES

Valuation

of

Investments

—

The

Portfolios

record

their

investments

at

fair

value

using

market quotations

when

they

are

readily

available

pursuant

to Rule

2a-5. 

The

Portfolios'

investments

are

recorded

at

fair value

determined

in

good

faith

when

market

quotations

are

not

readily

available. 

Securities

traded

on

U.S.

or

foreign

securities

exchanges

or

included

in

a

national

market

system

are

valued

at

the last

sale price

on

the

principal exchange as

of the

close

of

regular

trading

on

such

exchange

or

the

official

closing

price

of

the

national

market

system. 

Over-the-counter

securities

and

listed

securities

for

which

no

price

is

readily

available

are

valued

at

the

current

bid

price

considered

best

to

represent

the

value

at

that

time. 

Security

prices

are

based

on

quotes

that

are

obtained

from

an

independent

pricing

service

approved

by

the

Fund's

Board

of

Directors

(the

“Board”).

The

pricing

service,

in

determining

values

of

fixed-income

securities,

takes

into

consideration

such

factors

as

current

quotations

by

broker/dealers,

coupon,

maturity,

quality,

type

of

issue,

trading

characteristics,

and

other

yield

and

risk

factors

it

deems

relevant

in

determining

valuations.

Securities

which

cannot

be

valued

by

the

approved

pricing

service

are

valued

using

valuations obtained from dealers

that

make

markets

in

the

securities.

Exchange-listed

options and

futures

contracts

are

valued

at

the

primary

exchange

settle

price. 

Exchange

cleared

swap

agreements

are

valued at the

clearinghouse

end

of

day

price. Swap

agreements

not

cleared

on

exchanges

will

be

valued

using

the

mid-price

from

the

primary

approved

pricing

service.  Forward

foreign

currency

exchange

contracts

are

marked-to-market

based

upon

foreign

currency

exchange rates

provided

by the

pricing

service. 

Investments

in

open-ended

mutual

funds

are

valued

at

their

net

asset

value

at

the

close

of

each

business

day.

Thrivent

Money

Market seeks

to

maintain

a

stable

net

asset

value

of

$1.00

per

share,

pursuant

to

procedures

established

by

the

Board,

and

generally

utilizes

the

amortized

cost

method.

Valuing

securities

held

by

Thrivent

Money

Market

on

the

basis

of

amortized

cost

(which

approximates

market

value)

involves

a

constant

amortization

of

premium

or

accretion

of

discount

to

maturity.

The

Thrivent

Money

Market

will

not

value

a

security

at

amortized

cost,

but

will

instead

make

a

fair

value

determination

of

each

security,

if

it

determines

that

amortized

cost

is

not

approximately

the

same

as

the

fair

value

of

the

security.

The

Board

has

chosen the

Portfolios'

Investment

Adviser

as

the

valuation

designee,

responsible

for

daily

valuation

of

the

Portfolios'

securities. 

The

Adviser

has

formed

a

Valuation

Committee

(the

“Committee”)

that

is

responsible

for

overseeing

the

Portfolios’

valuation

policies

in

accordance

with

Valuation

Policies

and

Procedures. 

The

Committee

meets

on

a

monthly

and

on

an

as-

needed

basis

to

review

price

challenges,

price

overrides,

stale

prices,

shadow

prices,

manual

prices,

money

market

pricing,

international

fair

valuation,

and

other

securities

requiring

fair

valuation.

The

Committee

monitors

for

significant

events

occurring

prior

to

the

close

of

trading

on

the

New

York

Stock

Exchange

that

could

have

a

material

impact

on

the

value

of

any

securities

that

are

held

by

the

Portfolios. 

Examples

of

such

events

include

trading

halts,

national

news/events,

and

issuer-specific

developments. 

If

the

Committee

decides

that

such

events

warrant

using

fair

value

estimates,

the

Committee

will

take

such

events

into

consideration

in

determining

the

fair

value

of

such

securities. 

If

market

quotations

or

prices

are

not

readily

available

or

determined

to

be

unreliable,

the

securities

will

be

valued

at

fair

value

as

determined

in

good

faith

pursuant

to

procedures

adopted

by

the

Board.

In

accordance

with U.S.

Generally

Accepted

Accounting

Principles

(“GAAP”),

the

various

inputs

used

to

determine

the

fair

value

of

the

Portfolios’

investments

are

summarized

in

three

broad

levels.

Level

1

includes

quoted

prices

in

active

markets

for

identical

securities,

typically included

in

this

level

are

U.S.

equity

securities,

futures, options

and

registered

investment

company

funds.

Level

2

includes

other

significant

observable

inputs

such

as

quoted

prices

for

similar

securities,

interest

rates,

prepayment

speeds

and

credit

risk,

typically

included

in

this

level

are

fixed

income

securities,

international securities,

swaps

and

forward

contracts.

Level

3

includes

significant

unobservable

inputs

such

as

the

Adviser’s

own

assumptions

and

broker

evaluations

in

determining

the

fair

value

of

investments.

The

valuation

levels

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

these

securities

or

other

investments. 

Investments

measured

using

net

asset

value

per

share

as

a

practical

expedient

for

fair

value

and

that

are

not

publicly

available-for-sale are

not

categorized

within

the

fair

value

hierarchy. 

Valuation

of

International

Securities 

—

The

Portfolios

value

certain

foreign

securities

traded

on

foreign

exchanges

that

close

prior

to

the

close

of

the

New

York

Stock

Exchange

using

a

fair

value

pricing

service. 

The

fair

value

pricing

service

uses

a

multi-factor

model

that

may

take

into

account

the

local

close,

relevant

general

and

sector

indices,

currency

fluctuation,

prices

of

other

securities

(including

ADRs,

New

York

registered

shares,

and

ETFs),

and

futures,

as

applicable,

to

determine

price

adjustments

for

each

security

in

order

to

reflect

the

effects

of

post-closing

events. 

The

Board

has

authorized

the

Adviser

to

make

fair

valuation

determinations

pursuant

to

policies

approved

by

the

Board.

Foreign

Currency

Translation

—

The

accounting

records

of

each

Portfolio

are

maintained

in

U.S.

dollars.

Securities

and

other

assets

and

liabilities

that

are

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

daily

closing

rates

of

exchange.

Foreign

currency

amounts

related

to

the

purchase

or

sale

of

securities

and

income

and

expenses

are

translated

at

the

exchange

rate

on

the

transaction

date.

Net

realized

and

unrealized

currency

gains

and

losses

are

recorded

from

closed currency

contracts,

disposition

of foreign

currencies,

exchange

gains

or

losses

between

the

trade

date

and

settlement

date

on

securities

transactions,

and

other

translation

gains

or

losses

on

dividends,

interest

income

and

foreign

withholding

taxes.

The

Portfolios

do

not

separately

report

the

effect

of

changes

in

foreign

exchange

Notes

to

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

376

rates

from

changes

in

prices

on

securities

held.

Such

changes

are

included

in

net

realized

and

unrealized

gain

or

loss

from

investments

in

the

Statement

of

Operations.

For

federal

income

tax

purposes,

the

Portfolios

treat

the

effect

of

changes

in

foreign

exchange

rates

arising

from

actual

foreign

currency

transactions

and

the

changes

in

foreign

exchange

rates

between

the

trade

date

and

settlement

date

as

ordinary

income.

Foreign

Denominated

Investments

—

Foreign

denominated

assets

and

currency

contracts

may

involve

more

risks

than

domestic

transactions

including

currency

risk,

political

and

economic

risk,

regulatory

risk,

and

market

risk.

Certain

Portfolios

may

also

invest

in

securities

of

companies

located

in

emerging

markets.

Future

economic

or

political

developments

could

adversely

affect

the

liquidity

or

value,

or

both,

of

such

securities.

Derivative

Financial

Instruments

—

Each

of

the

Portfolios,

with

the

exception

of

the Money

Market,

may

invest

in

derivatives,

a

category

that

includes

options,

futures,

swaps,

foreign

currency

forward

contracts and

hybrid

instruments.

Derivatives

are

financial

instruments

whose

value

is

derived

from

another

security,

an

index

or

a

currency.

Each

applicable Portfolio

may

use

derivatives

for

hedging

(attempting

to

offset

a

potential

loss

in

one

position

by

establishing

an

interest

in

an

opposite

position).

This

includes

the

use

of

currency-based

derivatives

to

manage

the

risk

of

its

positions

in foreign

securities.

Each

applicable

Portfolio

may

also

use

derivatives

for

replication

of

a

certain

asset

class

or

speculation

(investing

for

potential

income

or

capital

gain).

These

contracts

may

be

transacted

on

an

exchange

or

over-the-counter

("OTC").

A

derivative

may

incur

a loss

if

the

value

of

the

derivative

decreases

due

to

an

unfavorable

change

in

the

market

rates

or

values

of

the

underlying

derivative.

Losses

can

also

occur

if

the

counterparty

does

not

perform

under

the

derivative.

A

Portfolio’s

risk

of

loss

from

the

counterparty

credit

risk

on

OTC

derivatives

is

generally

limited

to

the

aggregate

unrealized

gain

netted

against

any

collateral

held

by

such

Portfolio.

With

exchange

traded

futures

and

centrally

cleared

swaps,

there

is

minimal

counterparty

credit

risk

to

the

Portfolios

because

the

exchange’s

clearinghouse,

as

counterparty

to

such

derivatives,

guarantees

against

a

possible

default.

The

clearinghouse

stands

between

the

buyer

and

the

seller

of

the

derivative;

thus,

the

credit

risk

is

limited

to

the

failure

of

the

clearinghouse.

However,

credit

risk

still

exists

in

exchange

traded

futures

and

centrally

cleared

swaps

with

respect

to

initial

and

variation

margin

that

is

held

in

a

broker’s

customer

accounts.

While

brokers

are

required

to

segregate

customer

margin

from

their

own

assets,

in

the

event

that

a

broker

becomes

insolvent

or

goes

into

bankruptcy

and

at

that

time

there

is

a

shortfall

in

the

aggregate

amount

of

margin

held

by

the

broker

for

all

its

clients,

U.S.

bankruptcy

laws

will

typically

allocate

that

shortfall

on

a

pro-

rata

basis

across

all

of the

broker’s

customers,

potentially

resulting

in

losses to

the

Portfolios.

Using

derivatives

to

hedge

can

guard

against

potential

risks,

but

it

also

adds

to

the

Portfolios’

expenses

and

can

eliminate

some

opportunities

for

gains.

In

addition,

a

derivative

used

for

mitigating

exposure

or

replication

may

not

accurately

track

the

value

of

the

underlying

asset.

Another

risk

with

derivatives

is

that

some

types

can

amplify

a

gain

or

loss,

potentially

earning

or

losing

substantially

more

money

than

the

actual

cost

of

the

derivative.

In

order

to

define

their

contractual

rights

and

to

secure

rights

that

will

help

the

Portfolios

mitigate

their

counterparty

risk,

the

Portfolios

may

enter

into

an

International

Swaps

and

Derivatives

Association,

Inc.

Master

Agreement

(“ISDA

Master

Agreement”)

or

similar

agreement

with derivative

contract

counterparties.

An

ISDA

Master

Agreement

is

a

bilateral

agreement

between

a

Portfolio

and

a

counterparty

that

governs

OTC

derivatives

and

foreign

exchange

contracts

and

typically

includes,

among

other

things,

collateral

posting

terms

and

netting

provisions

in

the

event

of

a

default

and/or

termination

event.

Under

an

ISDA

Master

Agreement,

each

Portfolio

may,

under

certain

circumstances,

offset

with

the

counterparty

certain

derivatives'

payables

and/

or

receivables

with

collateral

held

and/or

posted

and

create

one

single

net

payment.

The

provisions

of

the

ISDA

Master

Agreement

typically

permit

a

single

net

payment

in

the

event

of

a

default

(close-out

netting)

including

the

bankruptcy

or

insolvency

of

the

counterparty.

Note,

however,

that

bankruptcy

and

insolvency

laws

of

a

particular

jurisdiction

may

impose

restrictions

on

or

prohibitions

against

the

right

of

offset

in

bankruptcy,

insolvency

or

other

events.

Collateral

and

margin

requirements

vary

by

type

of

derivative.

Margin

requirements

are

established

by

the

broker

or

clearinghouse

for

exchange

traded

and

centrally

cleared

derivatives

(futures,

options,

and

centrally

cleared

swaps).

Brokers

can

ask

for

margining

in

excess

of

the

minimum requirements

in

certain

situations.

Collateral

terms

are

contract

specific

for

OTC

derivatives

(foreign

currency

exchange

contracts,

options,

and swaps).

For

derivatives

traded

under

an

ISDA

Master

Agreement,

the

collateral

requirements

are

typically

calculated

by

netting

the

mark

to

market

amount

for

each

transaction

under

such

agreement

and

comparing

that

amount

to

the

value

of

any

collateral

currently

pledged

by

the

Portfolio

and

the

counterparty.

For

financial

reporting

purposes,

non-cash

collateral

that

has

been

pledged

to

cover

obligations

of

the

Portfolio

has

been

noted

in

the

Schedule

of

Investments.

To

the

extent

amounts

due

to a

Portfolio

from

its

counterparties

are

not

fully

collateralized,

contractually

or

otherwise,

the

Portfolio

bears

the

risk

of

loss

from

counterparty

nonperformance.

The

Portfolios

attempt

to

mitigate

counterparty

risk

by

only

entering

into

agreements

with

counterparties

that

they

believe

have

the

financial

resources

to

honor

their

obligations

and

by

monitoring

the

financial

stability

of

those

counterparties.

Options

—

All

Portfolios,

with

the

exception

of

the Money

Market,

may

buy

put

and

call

options

and

write

put

and

covered

call

options.

The

Portfolios

intend

to

use

such

derivative

instruments

as

hedges

to

facilitate

buying

or

selling

securities

or

to

provide

protection

against

adverse

movements

in

security

prices

or

interest

rates.

The

Portfolios

may

also

enter

into

options

contracts

to

protect

against

adverse

foreign

exchange

rate

fluctuations.

Option

contracts

are

valued

daily

and

unrealized

appreciation

or

depreciation

is

recorded.

A

Portfolio

will

realize

a

gain

or

loss

upon

Notes

to

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

377

expiration

or

closing

of

the

option

transaction.

When

an

option

is

exercised,

the

proceeds

upon

sale

for

a

written

call

option

or

the

cost

of

a

security

for

purchased

put

and

call

options

is

adjusted

by

the

amount

of

premium

received

or

paid.

Buying

put

options

tends

to

decrease

a

Portfolio’s

exposure

to

the

underlying

security

while

buying

call

options

tends

to

increase

a

Portfolio’s

exposure

to

the

underlying

security.

The

risk

associated

with

purchasing

put

and

call

options

is

limited

to

the

premium

paid.

There

is

no

significant

counterparty

risk

on

exchange-traded

options

as

the

exchange

guarantees

the

contract

against

default.

Writing

put

options

tends

to

increase

a

Portfolio’s

exposure

to

the

underlying

security

while

writing

call

options

tends

to

decrease

a

Portfolio’s

exposure

to

the

underlying

security.

The

writer

of

an

option

has

no

control

over

whether

the

underlying

security

may

be

bought

or

sold,

and

therefore

bears

the

market

risk

of

an

unfavorable

change

in

the

price

of

the

underlying

security.

The

counterparty

risk

for

purchased

options

arises

when

the

Portfolio

has

purchased

an

option,

exercises

that

option,

and

the

counterparty

doesn’t

buy

from

the

Portfolio

or

sell

to

the

Portfolio

the

underlying

asset

as

required.

In

the

case

where

the

Portfolio

has

written

an

option,

the

Portfolio

doesn’t

have

counterparty

risk.

Counterparty

risk

on

purchased

over-the-

counter

options

is

partially

mitigated

by

the

Portfolio’s

collateral

posting

requirements.

As

the

option

increases

in

value

to

the

Portfolio,

the

Portfolio

receives

collateral

from

the

counterparty.

Risks

of

loss

may

exceed

amounts

recognized

on

the

Statement

of

Assets

and

Liabilities.

During

the nine

months

ended

September

29,

2023,

Aggressive

Allocation,

Balanced

Income

Plus,

Diversified

Income

Plus,

Government

Bond,

Moderate

Allocation,

Moderately

Aggressive

Allocation, Moderately

Conservative

Allocation,

and

Opportunity

Income

Plus used

options

on

mortgage

backed

securities

to

generate

income

and/or

manage duration

of

the

Portfolio. 

Futures

Contracts

—

All

Portfolios, with

the

exception

of

the

Money

Market, may

use

futures

contracts

to

manage

the

exposure

to

interest

rate

and

market

or

currency

fluctuations.

Gains

or

losses

on

futures

contracts

can

offset

changes

in

the

yield

of

securities.

When

a

futures

contract

is

opened,

cash

or

other

investments

equal

to

the

required

“initial

margin

deposit”

are

held

on

deposit

with

and

pledged

to

the

broker.

Additional

securities

held

by

the

Portfolios

may

be

earmarked

to

cover

open

futures

contracts. A

futures

contract’s

daily

change

in

value

(“variation

margin”)

is

either

paid

to

or

received

from

the

broker,

and

is

recorded

as

an

unrealized

gain

or

loss.

When

the

contract

is

closed,

realized

gain

or

loss

is

recorded

equal

to

the

difference

between

the

value

of

the

contract

when

opened

and

the

value

of

the

contract

when

closed.

Futures

contracts

involve,

to

varying

degrees,

risk

of

loss

in

excess

of

the

variation

margin

disclosed

in

the

Statement

of

Assets

and

Liabilities.

Exchange-traded

futures

have

no

significant

counterparty

risk

as

the

exchange

guarantees

the

contracts

against

default.

During

the nine

months

ended

September

29,

2023,

Aggressive

Allocation,

Balanced

Income

Plus,

Diversified

Income

Plus, Government

Bond, Income, Limited

Maturity

Bond,

Moderate

Allocation,

Moderately

Aggressive

Allocation,

Moderately

Conservative

Allocation, and Opportunity

Income

Plus used

treasury

futures

to

manage

the

duration

and

yield

curve

exposure

of

the

respective

Portfolio

versus its

benchmark.

During

the nine

months

ended

September

29,

2023,

Aggressive

Allocation,

Balanced

Income

Plus,

Diversified

Income

Plus, ESG

Index,

Emerging

Markets

Equity,

Global

Stock, International

Allocation,

International

Index,

Large

Cap Index,

Low

Volatility

Equity,

Mid

Cap

Index,

Moderate

Allocation,

Moderately

Aggressive

Allocation,

Moderately

Conservative

Allocation,

Real

Estate

Securities,

and

Small

Cap

Index used

equity

futures

to

manage

exposure

to

the

equities

market.

During

the nine

months

ended December

31,

2023,

Aggressive

Allocation,

Balanced

Income

Plus,

Diversified

Income

Plus,

Moderate

Allocation,

Moderately

Aggressive

Allocation,

and

Moderately

Conservative

Allocation

used

foreign

exchange

futures

to

hedge

the

currency

risk.

Foreign

Currency

Forward

Contracts 

—

In

connection

with

purchases

and

sales

of

securities

denominated

in

foreign

currencies,

all

Portfolios,

with

the

exception

of

the Money

Market,

may

enter

into

foreign

currency

forward

contracts.

Additionally,

the

Portfolios

may

enter

into

such

contracts

to mitigate

currency

and

counterparty

exposure

to

other

foreign-currency-denominated

investments.

These

contracts

are

recorded

at

value

and

the realized-

and

change

in unrealized-

foreign

exchange

gains

and

losses

are

included

in

the

Statement

of

Operations.

In

the

event

that

counterparties

fail

to

settle

these

forward

contracts,

the

Portfolios

could

be

exposed

to

foreign

currency

fluctuations.

Foreign

currency

contracts

are

valued

daily

and

unrealized

appreciation

or

depreciation

is

recorded

daily

as

the

difference

between

the

contract

exchange

rate

and

the

closing

forward

rate

applied

to

the

face

amount

of

the

contract.

A

realized

gain

or

loss

is

recorded

at

the

time

a

forward

contract

is

closed.

These

contracts

are

over-the-counter

and a

Portfolio

is

exposed

to

counterparty

risk

equal

to

the

discounted

net

amount

of

payments

to

the

Portfolio.

During

the nine

months

ended

September

29,

2023,

Healthcare used

foreign

currency

forward

transactions

in

order

to

hedge

unwanted

currency

exposure.

Swap

Agreements

—

All

Portfolios,

with

the

exception

of

the

Money

Market,

may enter

into

swap

transactions,

which

involve

swapping

one

or

more

investment

characteristics

of

a

security

or

a

basket

of

securities

with

another

party.

Such

transactions

include

market

risk,

risk

of

default

by

the

other

party

to

the

transaction,

risk

of

imperfect

correlation

and

manager

risk

and

may

involve

commissions

or

other

costs.

Swap

transactions

generally

do

not

involve

delivery

of

securities,

other

underlying

assets

or

principal.

Accordingly,

the

risk

of

loss

with

respect

to

swap

transactions

is

generally

limited

to

the

net

amount

of

payments

that

the

Portfolio

is

contractually

obligated

to

make,

or

in

the

case

of

the

counterparty

defaulting,

the

net

amount

of

payments

that

the

Portfolio

is

Notes

to

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

378

contractually

entitled

to

receive.

Risks

of

loss

may

exceed

amounts

recognized

on

the

Statement

of

Assets

and

Liabilities.

If

there

is

a

default

by

the

counterparty,

the

Portfolio

may

have

contractual

remedies

pursuant

to

the

agreements

related

to

the

transaction.

The

contracts

are

valued

daily

and

unrealized

appreciation

or

depreciation

is

recorded.

Swap

agreements

are

valued

at

the

clearinghouse

end

of

day

prices

as

furnished

by

an

independent

pricing

service.

The

pricing

service

takes

into

account

such

factors

as

swap

curves,

default

probabilities,

recent

trades,

recovery

rates

and

other

factors

it

deems

relevant

in

determining

valuations.

Daily

fluctuations

in

the

value

of

the

centrally

cleared

credit

default

contracts

are

recorded

in

variation

margin

in

the

Statement

of

Assets

and

Liabilities

and

recorded

as

unrealized

gain

or

loss. 

The

Portfolio

accrues

for

the

periodic

payment

and

amortizes

upfront

payments,

if

any,

on

swap

agreements

on

a

daily

basis

with

the

net

amount

recorded

as

realized

gains

or

losses

in

the

Statement

of

Operations.

Receipts

and

payments

received

or

made

as

a

result

of

a

credit

event

or

termination

of

the

contract

are

also

recognized

as

realized

gains

or

losses

in

the

Statement

of

Operations.

Collateral,

in

the

form

of

cash

or

securities,

may

be

required

to

be

held

with

the

Portfolio’s

custodian,

or

a

third

party,

in

connection

with

these

agreements.

Certain swap

agreements

are

over-the-counter. In

these

types

of transactions,

the

Portfolio

is

exposed

to

counterparty

risk,

which

is

the

discounted

net

amount

of

payments

owed

to

the

Portfolio.

This

risk

is

partially

mitigated

by

the

Portfolio’s

collateral

posting

requirements.

As

the

swap

increases

in

value

to

the

Portfolio,

the

Portfolio

receives

collateral

from

the

counterparty. 

Certain

interest

rate

and

credit

default

index

swaps

must

be

cleared

through

a

clearinghouse

or

central

counterparty.

Credit

Default

Swaps

—

A

credit

default

swap

("CDS")

is

a

swap

agreement

between

two

parties

to

exchange

the

credit

risk

of

a

particular

issuer,

basket

of

securities

or

reference

entity.

In

a

CDS

transaction,

a

buyer

pays

periodic

fees

in

return

for

payment

by

the

seller

which

is

contingent

upon

an

adverse

credit

event

occurring

in

the

underlying

issuer

or

reference

entity.

The

seller

collects

periodic

fees

from

the

buyer

and

profits

if

the

credit

of

the

underlying

issuer

or

reference

entity

remains

stable

or

improves

while

the

swap

is

outstanding,

but

the

seller

in

a

CDS

contract

would

be

required

to

pay

the

amount

of

credit

loss,

determined

as

specified

in

the

agreement,

to

the

buyer

in

the

event

of

an

adverse

credit

event

in

the

reference

entity.

A

buyer

of

a

CDS

is

said

to

buy

protection

whereas

a

seller

of

a

CDS

is

said

to

sell

protection.

The

Portfolios

may

be

either

the

protection seller

or

the

protection

buyer.

Certain

Portfolios

enter

into

credit

default

derivative

contracts

directly

through

CDSs or

through

credit

default

swap

indices

("CDX

Indices").

CDX

indices

are

static

pools

of

equally

weighted

CDSs

referencing

corporate

bonds

and/or

loans

designed

to increase

or

decrease diversified

credit

exposure

to

these

asset

classes.

Portfolios

sell

default

protection

and

assume

long-risk

positions

in

individual

credits

or

indices.

Index

positions

are

entered

into

to

gain

exposure

to

the

corporate

bond

and/or

loan

markets

in

a

cost-efficient

and

diversified

structure.

In

the

event

that

a

position

defaults,

by

going

into

bankruptcy

and

failing

to

pay

interest

or

principal

on

borrowed

money,

within

any

given

CDX

Index

held,

the

maximum

potential

amount

of

future

payments

required

would

be

equal

to

the

pro-rata

share

of

that

position

within

the

index

based

on

the

notional

amount

of

the

index.

In

the

event

of

a

default

under

a

CDS

contract,

the

maximum

potential

amount

of

future

payments

would

be

the

notional

amount.

Portfolios

buy

default

protection

in

order

to reduce

their

overall

credit

exposure

to

the

corporate

bond

and/or

loan

markets

in

a

cost-efficient

and

diversified

structure. 

If

a

default

event

as

specified

in

the

CDS

reference

entity

agreement

occurs,

the

Portfolio

has

the

option

to

receive

a

cash

payment

in

exchange

for

the

credit

loss

of

the

reference

entity

obligation

as

of

the

date

of

the

credit

event. A

realized

gain

or

loss

is

recorded

upon

a

default

event

or

the

maturity

or

termination

of

the

CDS

agreement.   

For

CDS,

the

default

events

could

be

bankruptcy

and

failing

to

pay

interest

or

principal

on

borrowed

money

or

a

restructuring.

A

restructuring

is

a

change

in

the

underlying

obligations

which

could

include

a

reduction

in

interest

or

principal,

maturity

extension and

subordination

to

other

obligations.

During

the nine

months

ended

September

29,

2023, Balanced

Income

Plus,

Diversified

Income

Plus,

High

Yield,

Income,

Moderate

Allocation,

Moderately

Aggressive

Allocation, Moderately

Conservative

Allocation,

Multidimensional

Income,

and

Opportunity

Income

Plus

used

CDX

indices

(comprised

of

CDSs)

to

help

manage

credit

risk

exposure

within

the

Portfolio.

For

financial

reporting

purposes,

the

Portfolios

do

not

offset

derivative

assets

and

derivative

liabilities

that

are

subject

to

netting

arrangements

in

the

Statement

of

Assets

and

Liabilities.

Bank Loans

(Leveraged Loans) 

—

Certain

Portfolios

may

invest

in

bank

loans,

which

are

senior

secured

loans

that

are

made

by

banks

or

other

lending

institutions

to

companies

that

are

typically

rated

below

investment

grade. 

A

Portfolio

may

invest

in

multiple

series

or

tranches

of

a

bank

loan,

with

varying

terms

and

different

associated

risks. 

Transactions

in

bank

loan

securities

may

settle

on

a

delayed

basis,

which

may

result

in

the

proceeds

of

the

sale

to

not

be

readily

available

for

a

Portfolio

to

make

additional

investments. 

Interest

rates

of

bank

loan

securities

typically

reset

periodically,

as

the

rates

are

tied

to

a

reference

index

rate, plus

a

premium. 

Income

is

recorded

daily

on

bank

loan

securities. 

On

an

ongoing

basis,

a

Portfolio

may

receive

a

commitment

fee

based

on

the

undrawn

portion

of

the

underlying

line

of

credit

of

the

bank

loan. 

This

commitment

fee

is

accrued

as

income

over

the

term

of

the

bank

loan. 

A

Portfolio

may

receive

consent

and

amendment

fees

for

accepting

an

amendment

to

the

current

terms

of

a

bank

loan. 

Consent

and

amendment

fees

are

accrued

as

income

when

the

changes

to

the

bank

loan

are

immaterial

and

to

capital

when

the

changes

are

material.

All

or

a

portion

of

these

bank

loan

commitments may

be

unfunded.

A

Portfolio

is

obligated

to

fund

these

commitments

at

the

borrower’s

discretion.

Therefore,

the

Portfolio

must

have

funds

Notes

to

Schedule

of

Investments

as

of

September

29,

2023

(unaudited)

379

sufficient

to

cover

its

contractual

obligation.

These

unfunded

bank

loan

commitments,

which

are

marked-to-market

daily,

are

presented

in

the

Schedule

of

Investments

and

reflected

as

a

liability

on

the

Statement

of

Assets

and

Liabilities.

As

of

September

29,

2023,

the

Portfolios

have

the

following

unfunded

bank

loan

commitments:

Private

Equity

Funds

— 

Typically,

when

a

Portfolio

invests

in

a

Private

Equity

Fund,

the Portfolio

makes

a

commitment

to

invest

a

specified

amount

of

capital

in

the

applicable

Private

Equity

Fund.

The

capital

commitment

may

be

drawn

by

the

general

partner

of

the

Private

Equity

Fund

either

all

at

once

or

through

a

series

of

capital

calls

at

the

discretion

of

the

general

partner.

Thus,

an

unfunded

capital

commitment

represents

the

portion

of

the

Portfolio’s

overall

capital

commitment

that

has

not

yet

been

called

by

the

general

partner.

Unfunded

commitments

may

subject

the Portfolio

to

certain

risks.

For

example,

the Portfolio

may

be

required

to:

liquidate

other

portfolio

investments,

potentially

at

inopportune

times,

to

obtain

the

cash

needed

to

satisfy

its

obligations

with

respect

to

a

capital

call

or

borrow

under

a

credit

facility

which

may

result

in

additional

expenses

to

the

Portfolio.

Management

recognizes

these

risks

as

potentially

detrimental

to

the

overall

strategy

and

so

the

Fund

will

generally

maintain

with

its

custodian

cash

and/or,

liquid

investments

having

an

aggregate

value

at

least

equal

to

the

par

value

of

unfunded

capital

commitments. 

As

of

September

29,

2023,

the

unfunded

capital

commitments

were

as

follows:

Additional

information

for

the

Portfolio's

policy

regarding

valuation

of

investments

and

other

significant

accounting

policies

can

be

obtained

by

referring

to

the

Portfolio's

most

recent

annual

or

semiannual

shareholder

report.

Fund/Borrower

Unfunded

Loan

Commitments

Thrivent

Balanced

Income

Plus

Portfolio

Bausch

+

Lomb

Corporation,

Term

Loan

85,161

CMG

Media

Corporation,

Term

Loan

144,690

GTCR

W

Merger

Sub,

LLC,

Term

Loan

249,503

McGraw-Hill

Education,

Inc.,

Term

Loan

156,066

Proampac

PG

Borrower,

LLC,

Term

Loan

118,013

Star

Parent,

Inc.,

Term

Loan

179,931

Total

933,364

Thrivent

Diversified

Income

Plus

Portfolio

Bausch

+

Lomb

Corporation,

Term

Loan

174,252

CMG

Media

Corporation,

Term

Loan

289,380

GTCR

W

Merger

Sub,

LLC,

Term

Loan

499,006

McGraw-Hill

Education,

Inc.,

Term

Loan

305,883

Proampac

PG

Borrower,

LLC,

Term

Loan

236,027

Star

Parent,

Inc.,

Term

Loan

359,863

Total

1,864,411

Thrivent

Moderate

Allocation

Portfolio

Bausch

+

Lomb

Corporation,

Term

Loan

396,193

CMG

Media

Corporation,

Term

Loan

729,479

GTCR

W

Merger

Sub,

LLC,

Term

Loan

1,257,910

McGraw-Hill

Education,

Inc.,

Term

Loan

749,760

Proampac

PG

Borrower,

LLC,

Term

Loan

594,983

Star

Parent,

Inc.,

Term

Loan

907,154

Total

4,635,479

Thrivent

Moderately

Aggressive

Allocation

Portfolio

Bausch

+

Lomb

Corporation,

Term

Loan

120,319

CMG

Media

Corporation,

Term

Loan

241,150

GTCR

W

Merger

Sub,

LLC,

Term

Loan

415,838

McGraw-Hill

Education,

Inc.,

Term

Loan

249,920

Proampac

PG

Borrower,

LLC,

Term

Loan

196,689

Star

Parent,

Inc.,

Term

Loan

299,886

Total

1,523,802

Thrivent

Moderately

Conservative

Allocation

Portfolio

Bausch

+

Lomb

Corporation,

Term

Loan

312,724

CMG

Media

Corporation,

Term

Loan

596,846

GTCR

W

Merger

Sub,

LLC,

Term

Loan

1,029,200

McGraw-Hill

Education,

Inc.,

Term

Loan

612,304

Proampac

PG

Borrower,

LLC,

Term

Loan

481,887

Star

Parent,

Inc.,

Term

Loan

742,217

Total

3,775,178

Thrivent

Opportunity

Income

Plus

Portfolio

CMG

Media

Corporation,

Term

Loan

84,403

GTCR

W

Merger

Sub,

LLC,

Term

Loan

145,543

McGraw-Hill

Education,

Inc.,

Term

Loan

87,472

Proampac

PG

Borrower,

LLC,

Term

Loan

68,842

Star

Parent,

Inc.,

Term

Loan

74,079

Total

460,339

Portfolio

Total

Commitments

Unfunded

Commitments

Percent

Funded

Aggressive

Allocation

26,000,000

26,000,000

0.00%

Moderate

Allocation

60,000,000

60,000,000

0.00%

Moderately

Aggressive

Allocation

52,000,000

52,000,000

0.00%

Moderately

Conservative

Allocation

24,000,000

24,000,000

0.00%

162,000,000

162,000,000

0.00%