Wilmington Funds

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.


Description	Number of Shares		Value
COMMON STOCKS – 99.6%
CONSUMER DISCRETIONARY – 12.7%
AUTO COMPONENTS – 0.3%
Adient PLC*		2,113	$	134,154
BorgWarner, Inc.		6,180		252,329
Delphi Automotive PLC		5,450		381,827
Gentex Corp.		4,680		97,765
Goodyear Tire & Rubber Co. (The)		7,350		238,066
Lear Corp.		2,500		355,225
Visteon Corp.*		1,500		134,355

			$	1,593,721
AUTOMOBILES – 0.7%
Ford Motor Co.		98,300		1,214,988
General Motors Co.		36,700		1,343,587
Harley-Davidson, Inc.		3,970		226,449
Tesla Motors, Inc.^#,*		2,918		735,132
Thor Industries, Inc.		1,380		142,830

			$	3,662,986
DISTRIBUTORS – 0.1%
Genuine Parts Co.		4,620		447,262
LKQ Corp.*		7,780		248,260

			$	695,522
DIVERSIFIED CONSUMER SERVICES – 0.1%
Graham Holdings Co., Class B		140		72,737
H&R Block, Inc.		6,660		142,924
Service Corp. International		4,170		121,472
ServiceMaster Global Holdings, Inc.*		2,280		84,314

			$	421,447
HOTELS, RESTAURANTS & LEISURE – 1.8%
Aramark		5,800		196,272
Brinker International, Inc.		520		23,140
Carnival Corp.		2,220		122,944
Chipotle Mexican Grill, Inc.^#,*		650		273,936
Choice Hotels International, Inc.		1,610		89,355
Darden Restaurants, Inc.		1,440		105,523
Domino’s Pizza, Inc.		2,200		383,988
Dunkin’ Brands Group, Inc.		3,900		202,293
Hilton Grand Vacations, Inc.*		736		21,587
Hilton Worldwide Holdings, Inc.		2,453		141,244
Hyatt Hotels Corp., Class A*		2,800		153,188


Description	Number of Shares		Value
International Game Technology^#		1,273	$	33,620
Las Vegas Sands Corp.		9,520		500,562
Marriott International, Inc., Class A		7,036		595,246
McDonald’s Corp.		22,849		2,800,602
MGM Resorts International*		12,310		354,528
Norwegian Cruise Line Holdings*		4,660		219,020
Panera Bread Co., Class A*		845		176,656
Restaurant Brands International LP		47		2,304
Royal Caribbean Cruises Ltd.		4,180		391,373
Six Flags Entertainment Corp.		3,100		184,698
Starbucks Corp.		34,190		1,887,972
Wendy’s Co. (The)		200		2,706
Wyndham Worldwide Corp.		3,360		265,642
Wynn Resorts Ltd.^#		2,200		223,146
Yum China Holdings, Inc.*		10,150		278,922
Yum! Brands, Inc.		10,150		665,130

			$	10,295,597
HOUSEHOLD DURABLES – 0.6%
CalAtlantic Group, Inc.^#		2,100		73,227
DR Horton, Inc.		5,070		151,644
Garmin Ltd.		1,690		81,610
Harman International Industries, Inc.		1,920		213,427
Leggett & Platt, Inc.		3,670		175,132
Lennar Corp., Class A		3,810		170,116
Mohawk Industries, Inc.*		1,900		410,096
Newell Brands, Inc.		12,569		594,891
NVR, Inc.*		130		241,540
PulteGroup, Inc.		10,090		217,036
Tempur Sealy International, Inc.^#,*		1,700		73,100
Toll Brothers, Inc.*		6,650		208,544
Tupperware Brands Corp.		1,000		60,360
Whirlpool Corp.		2,350		410,992

			$	3,081,715
INTERNET & CATALOG RETAIL – 2.2%
Amazon.com, Inc.*		10,060		8,284,209
Expedia, Inc.		2,852		346,775
Groupon, Inc.^#,*		12,350		42,607
Liberty Expedia Holdings, Inc., Class A*		1,640		72,176
Liberty Interactive Corp., QVC Group, Class A*		7,350		140,973
Liberty Ventures, Class A*		2,461		107,423
Netflix, Inc.*		10,600		1,491,526


Description	Number of Shares		Value
Priceline Group, Inc. (The)*		1,330	$	2,094,923
TripAdvisor, Inc.*		1,900		100,510

			$	12,681,122
LEISURE EQUIPMENT & PRODUCTS – 0.2%
Brunswick Corp.		2,490		149,051
Hasbro, Inc.^#		3,490		287,960
Mattel, Inc.		10,050		263,410
Polaris Industries, Inc.^#		1,900		159,733
Vista Outdoor, Inc.*		340		9,795

			$	869,949
MEDIA – 3.3%
AMC Networks, Inc., Class A*		1,685		96,635
Cable One, Inc.		140		88,533
CBS Corp., Non-Voting		11,830		762,917
Charter Communications, Inc.*		4,702		1,523,213
Cinemark Holdings, Inc.		500		21,250
Clear Channel Outdoor Holdings, Inc., Class A		17,700		87,615
Comcast Corp., Class A		64,400		4,857,048
Discovery Communications, Inc., Class A^#,*		9,680		272,764
DISH Network Corp., Class A*		4,880		288,750
Gannett Co., Inc.		1,645		15,825
Interpublic Group of Cos., Inc. (The)		10,120		238,124
John Wiley & Sons, Inc., Class A		2,100		115,710
Liberty Braves Group, Class A*		84		1,676
Liberty Broadband Corp., Class A*		2,606		220,180
Liberty Media Corp., Class A*		210		6,086
Liberty SiriusXM Group, Class A*		6,929		248,977
Lions Gate Entertainment Corp., Class A		7,570		207,513
Live Nation Entertainment, Inc.*		4,370		125,069
Madison Square Garden Co., Class A (The)*		729		128,063
News Corp., Class A		16,457		202,365
Omnicom Group, Inc.		5,490		470,219
Regal Entertainment Group, Class A^#		770		17,448
Scripps Networks Interactive, Inc., Class A		1,380		105,101
Sirius XM Holdings, Inc.^#		63,640		300,381
TEGNA, Inc.		4,940		113,175
Time Warner, Inc.		20,016		1,938,550
Tribune Media Co., Class A		2,550		73,542
Twenty-First Century Fox, Inc., Class A		39,210		1,227,753
Viacom, Inc.		8,900		375,046
Walt Disney Co. (The)		42,046		4,652,390

			$	18,781,918
MULTILINE RETAIL – 0.5%
Burlington Stores, Inc.*		900		75,330
Dillard’s, Inc., Class A		600		33,864
Dollar General Corp.		7,700		568,414


Description	Number of Shares		Value
Dollar Tree, Inc.*		6,962	$	537,397
JC Penney Co., Inc.^#,*		3,930		26,135
Kohl’s Corp.		5,910		235,395
Macy’s, Inc.		8,380		247,545
Nordstrom, Inc.^#		5,880		260,014
Sears Holdings Corp.^#,*		70		489
Target Corp.		13,160		848,557

			$	2,833,140
SPECIALTY RETAIL – 2.3%
Advance Auto Parts, Inc.		1,850		303,844
AutoNation, Inc.*		1,780		94,554
AutoZone, Inc.*		660		478,487
Bed, Bath & Beyond, Inc.		2,310		93,208
Best Buy Co., Inc.		6,780		301,846
Cabela’s, Inc.*		900		50,301
CarMax, Inc.^#,*		6,500		433,615
CST Brands, Inc.		1,718		82,773
Dick’s Sporting Goods, Inc.		3,280		169,248
Foot Locker, Inc.		2,410		165,181
GameStop Corp., Class A^#		2,820		69,062
Gap, Inc. (The)		4,350		100,180
Home Depot, Inc. (The)		33,150		4,560,777
L Brands, Inc.		5,210		313,694
Lowe’s Cos., Inc.		23,100		1,688,148
Michaels Cos, Inc. (The)*		1,700		33,439
Murphy USA, Inc.*		1,387		88,352
O’Reilly Automotive, Inc.*		2,700		708,129
Penske Automotive Group, Inc.		600		32,616
Ross Stores, Inc.		10,440		690,188
Sally Beauty Holdings, Inc.*		2,500		59,500
Signet Jewelers Ltd.^#		820		63,689
Staples, Inc.		12,960		119,232
Tiffany & Co.^#		3,950		310,944
TJX Cos., Inc. (The)		18,540		1,389,017
Tractor Supply Co.		2,900		213,643
Ulta Salon Cosmetics & Fragrance, Inc.*		1,700		462,876
Urban Outfitters, Inc.*		1,460		38,748
Williams-Sonoma, Inc.^#		2,540		122,453

			$	13,237,744
TEXTILES, APPAREL & LUXURY GOODS – 0.6%
Carter’s, Inc.		1,400		117,250
Coach, Inc.		8,010		299,173
Hanesbrands, Inc.		8,700		206,277
Kate Spade & Co.*		1,500		27,765
lululemon athletica, Inc.*		2,700		182,277
Michael Kors Holdings Ltd.*		4,300		184,083
NIKE, Inc., Class B		31,740		1,679,046


Description	Number of Shares		Value
PVH Corp.		1,380	$	129,458
Ralph Lauren Corp.		900		79,587
Skechers U.S.A., Inc., Class A*		3,400		85,408
Under Armour, Inc., Class A^#,*		7,722		158,859
VF Corp.		6,050		311,454

			$	3,460,637

TOTAL CONSUMER DISCRETIONARY			$	71,615,498
CONSUMER STAPLES – 6.5%
BEVERAGES – 1.3%
Brown-Forman Corp., Class A		7,800		360,872
Coca-Cola Co. (The)		76,100		3,163,477
Constellation Brands, Inc., Class A		2,700		404,352
Dr. Pepper Snapple Group, Inc.		2,300		209,760
Molson Coors Brewing Co., Class B		1,900		183,388
Monster Beverage Corp.*		9,900		421,740
PepsiCo, Inc.		27,900		2,895,462

			$	7,639,051
FOOD & STAPLES RETAILING – 1.5%
Casey’s General Stores, Inc.^#		700		80,430
Costco Wholesale Corp.		8,500		1,393,575
CVS Health Corp.		22,700		1,788,987
Kroger Co. (The)		22,500		764,100
Rite Aid Corp.*		23,500		132,070
Sprouts Farmers Market, Inc.^#,*		5,500		102,685
Sysco Corp.		8,900		466,894
US Foods Holding Corp.*		2,400		65,280
Walgreens Boots Alliance, Inc.		17,400		1,425,756
Wal-Mart Stores, Inc.		28,700		1,915,438
Whole Foods Market, Inc.		8,800		265,936

			$	8,401,151
FOOD PRODUCTS – 1.2%
Archer-Daniels-Midland Co.		12,200		539,972
Blue Buffalo Pet Products, Inc.*		3,300		80,025
Bunge Ltd.		4,600		318,366
Campbell Soup Co.		5,200		323,596
ConAgra Foods, Inc.		8,400		328,356
General Mills, Inc.		9,400		587,312
Hain Celestial Group, Inc. (The)*		5,600		221,536
Hershey Co. (The)		3,500		369,145
Hormel Foods Corp.		6,200		225,060
Ingredion, Inc.		500		64,095
JM Smucker Co. (The)		1,200		163,020
Kellogg Co.		3,000		218,130
Kraft Heinz Co. (The)		12,700		1,133,983
Lamb Weston Holdings, Inc.		2,800		104,608
McCormick & Co., Inc.		600		57,330


Description	Number of Shares		Value
Mead Johnson Nutrition Co.		3,600	$	253,656
Mondelez International, Inc., Class A		31,500		1,394,820
Pilgrim’s Pride Corp.^#		3,000		57,420
Tyson Foods, Inc., Class A		4,700		295,113
WhiteWave Foods Co. (The)*		4,500		247,770

			$	6,983,313
HOUSEHOLD PRODUCTS – 1.2%
Church & Dwight Co., Inc.		2,600		117,572
Clorox Co. (The)		2,800		336,000
Colgate-Palmolive Co.		15,600		1,007,448
Energizer Holdings, Inc.		1,700		85,799
Kimberly-Clark Corp.		5,900		714,667
Procter & Gamble Co. (The)		48,200		4,222,320
Spectrum Brands Holdings, Inc.		200		26,678

			$	6,510,484
PERSONAL PRODUCTS – 0.1%
Coty, Inc., Class A		3,600		69,120
Edgewell Personal Care Co.*		3,100		244,404
Estee Lauder Cos., Inc. Class A (The)		3,200		259,872
Herbalife Ltd.^#,*		1,900		106,780
Nu Skin Enterprises, Inc., Class A		1,600		83,008

			$	763,184
TOBACCO – 1.2%
Altria Group, Inc.		35,900		2,555,362
Philip Morris International, Inc.		30,600		2,941,578
Reynolds American, Inc.		18,200		1,094,366

			$	6,591,306

TOTAL CONSUMER STAPLES			$	36,888,489
ENERGY – 7.6%
ENERGY EQUIPMENT & SERVICES – 1.3%
Baker Hughes, Inc.		10,400		656,032
Diamond Offshore Drilling, Inc.^#,*		4,700		76,986
Dril-Quip, Inc.^#,*		660		41,052
Ensco PLC, Class A		23,250		253,890
Frank’s International NV^#		2,050		24,272
Halliburton Co.		22,790		1,289,230
Helmerich & Payne, Inc.^#		2,960		210,634
Nabors Industries Ltd.		8,630		140,238
National Oilwell Varco, Inc.		6,905		261,078
Noble Corp. PLC		27,700		186,975
Oceaneering International, Inc.		1,680		46,788
Patterson-UTI Energy, Inc.		4,800		134,592
Rowan Cos. PLC, Class A*		3,240		58,061
RPC, Inc.^#		3,450		74,244
Schlumberger Ltd.		38,495		3,222,416


Description	Number of Shares		Value
Superior Energy Services, Inc.		4,550	$	80,399
Targa Resources Corp.		4,300		247,766
TechnipFMC PLC*		4,760		160,031
Transocean Ltd.^#,*		14,700		205,359
Weatherford International PLC^#,*		40,050		208,661

			$	7,578,704
OIL, GAS & CONSUMABLE FUELS – 6.3%
Anadarko Petroleum Corp.		14,350		997,755
Antero Resources Corp.*		2,050		50,040
Apache Corp.		10,840		648,449
Cabot Oil & Gas Corp.		14,200		305,016
Cheniere Energy, Inc.^#,*		6,330		301,624
Chesapeake Energy Corp.*		23,700		152,865
Chevron Corp.		53,120		5,914,912
Cimarex Energy Co.		2,900		392,109
Cobalt International Energy, Inc.*		500		490
Concho Resources, Inc.*		3,460		482,462
ConocoPhillips		36,160		1,763,162
CONSOL Energy, Inc.^#		6,600		111,804
Continental Resources, Inc.^#,*		3,820		185,499
CVR Energy, Inc.^#		100		2,221
Devon Energy Corp.		13,480		613,879
Diamondback Energy, Inc.*		1,900		199,823
Energen Corp.*		4,380		236,038
EOG Resources, Inc.		14,680		1,491,194
EQT Corp.		4,830		292,843
Exxon Mobil Corp.		118,993		9,982,323
Golar LNG Ltd.		750		19,395
Gulfport Energy Corp.*		3,950		82,555
Hess Corp.		7,190		389,554
HollyFrontier Corp.		7,840		227,125
Kinder Morgan, Inc.		55,855		1,247,801
Kosmos Energy Ltd.*		3,050		19,947
Laredo Petroleum, Inc.*		8,700		117,885
Marathon Oil Corp.		31,530		528,127
Marathon Petroleum Corp.		15,730		755,826
Murphy Oil Corp.^#		7,100		205,261
Newfield Exploration Co.*		4,310		172,745
Noble Energy, Inc.		14,320		569,363
Occidental Petroleum Corp.		20,600		1,396,062
ONEOK, Inc.		7,660		422,143
Parsley Energy, Inc., Class A*		2,200		77,484
PBF Energy, Inc., Class A^#		3,000		69,570
Phillips 66		11,390		929,652
Pioneer Natural Resources Co.		4,750		856,093
QEP Resources, Inc.*		8,800		153,472


Description	Number of Shares		Value
Range Resources Corp.		6,198	$	200,443
Rice Energy, Inc.*		800		15,864
SM Energy Co.		3,150		96,107
Southwestern Energy Co.*		15,300		137,853
Spectra Energy Corp.		19,850		826,753
Tesoro Corp.		2,640		213,444
Valero Energy Corp.		13,020		856,195
Whiting Petroleum Corp.*		10,350		114,782
Williams Cos., Inc. (The)		18,670		538,443
World Fuel Services Corp.		2,100		93,408
WPX Energy, Inc.*		7,917		110,284

			$	35,568,144

TOTAL ENERGY			$	43,146,848
FINANCIALS – 16.2%
CAPITAL MARKETS – 3.1%
Affiliated Managers Group, Inc.*		1,270		193,497
Ameriprise Financial, Inc.		5,540		621,976
Artisan Partners Asset Management, Inc., Class A		350		10,132
Bank of New York Mellon Corp. (The)		27,020		1,208,605
BlackRock, Inc.		3,760		1,406,165
CBOE Holdings, Inc.^#		3,000		238,860
Charles Schwab Corp. (The)		30,450		1,255,758
CME Group, Inc.		8,600		1,041,288
Donnelley Financial Solutions, Inc.*		396		9,536
ETRADE Financial Corp.		7,200		269,640
Eaton Vance Corp.		4,970		208,392
FactSet Research Systems, Inc.		1,540		266,497
Federated Investors, Inc., Class B		4,970		129,270
Franklin Resources, Inc.		7,720		306,793
Goldman Sachs Group, Inc. (The)		10,240		2,348,237
Interactive Brokers Group, Inc., Class A		2,500		93,350
Intercontinental Exchange, Inc.		17,290		1,009,044
Invesco Ltd.		12,320		356,294
Lazard Ltd., Class A		5,050		214,524
Legg Mason, Inc.		1,310		41,514
LPL Financial Holdings, Inc.		3,200		125,760
Moody’s Corp.		5,940		615,800
Morgan Stanley		38,846		1,650,567
Morningstar, Inc.		1,100		83,765
MSCI, Inc.		4,320		357,480
Nasdaq, Inc.		4,530		319,546
Northern Trust Corp.		4,080		338,477
Raymond James Financial, Inc.		4,510		337,934
S&P Global, Inc.		7,790		936,202
SEI Investments Co.		3,840		186,278
State Street Corp.		9,070		691,134


Description	Number of Shares		Value
T. Rowe Price Group, Inc.		5,180	$	349,339
TD Ameritrade Holding Corp.		5,450		251,518
Thomson Reuters Corp.		6,650		298,186

			$	17,771,358
COMMERCIAL BANKS – 1.7%
Associated Banc-Corp.		8,385		212,140
Bank of Hawaii Corp.		2,470		212,198
BankUnited, Inc.		2,700		103,140
BB&T Corp.		19,890		918,719
BOK Financial Corp.^#		820		67,437
CIT Group, Inc.		5,800		238,902
Citizens Financial Group, Inc.		13,750		497,337
Commerce Bancshares, Inc.		1,724		97,458
Cullen/Frost Bankers, Inc.		1,440		128,736
East West Bancorp, Inc.		3,800		195,472
Fifth Third Bancorp		18,250		476,325
First Horizon National Corp.		8,934		178,680
First Republic Bank		5,000		471,650
Huntington Bancshares, Inc.		29,041		392,925
KeyCorp		25,444		457,229
M&T Bank Corp.^§		1,610		261,738
PacWest Bancorp.		4,339		240,381
People’s United Financial, Inc.		7,400		138,750
PNC Financial Services Group, Inc. (The)		12,860		1,549,116
Popular, Inc.		3,900		173,277
Regions Financial Corp.		32,756		472,014
Signature Bank*		1,600		252,032
SunTrust Banks, Inc.		12,880		731,842
SVB Financial Group*		1,700		292,791
Synovus Financial Corp.		5,594		233,158
TCF Financial Corp.		5,810		100,804
Zions Bancorporation		5,090		214,747

			$	9,308,998
CONSUMER FINANCE – 1.0%
Ally Financial, Inc.		14,400		304,128
American Express Co.		20,740		1,584,121
Capital One Financial Corp.		14,600		1,275,894
Credit Acceptance Corp.^#,*		250		51,320
Discover Financial Services		12,980		899,254
Navient Corp.		12,160		182,886
OneMain Holdings, Inc.*		2,800		62,664
Santander Consumer USA Holdings, Inc.*		3,700		48,914
SLM Corp.*		8,660		102,881
Synchrony Financial		25,700		920,574

			$	5,432,636
DIVERSIFIED FINANCIAL SERVICES – 6.9%
Bank of America Corp.		292,350		6,618,804


Description	Number of Shares		Value
Berkshire Hathaway, Inc., Class B*		52,696	$	8,649,521
Citigroup, Inc.		81,382		4,543,557
Comerica, Inc.		5,030		339,676
JPMorgan Chase & Co.		103,420		8,752,435
Leucadia National Corp.		5,710		136,183
U.S. Bancorp		42,970		2,262,371
Voya Financial, Inc.		3,400		136,748
Wells Fargo & Co.		130,175		7,332,758

			$	38,772,053
INSURANCE – 3.4%
Aflac, Inc.		12,100		846,879
Alleghany Corp.*		256		156,562
Allied World Assurance Co. Holdings AG		3,890		206,676
Allstate Corp. (The)		11,480		863,411
American Financial Group, Inc.		1,600		137,872
American International Group, Inc.		28,280		1,817,273
American National Insurance Co.		600		69,954
AmTrust Financial Services, Inc.		2,100		55,419
Aon PLC		7,900		890,330
Arch Capital Group Ltd.*		2,590		228,827
Arthur J Gallagher & Co.		6,580		354,201
Aspen Insurance Holdings Ltd.		4,665		263,106
Assurant, Inc.		3,230		313,730
Assured Guaranty Ltd.		3,550		138,131
Axis Capital Holdings Ltd.		3,280		209,953
Brown & Brown, Inc.		5,570		234,664
Chubb Ltd.		12,647		1,662,954
Cincinnati Financial Corp.		6,106		430,961
CNA Financial Corp.		1,050		43,732
Endurance Specialty Holdings Ltd.		2,000		185,380
Erie Indemnity Co., Class A		670		75,114
Everest Re Group Ltd.		1,170		257,318
FNF Group		8,041		284,330
Hanover Insurance Group, Inc. (The)		1,100		92,334
Hartford Financial Services Group, Inc. (The)		8,690		423,290
Lincoln National Corp.		7,670		517,802
Loews Corp.		10,450		486,761
Markel Corp.*		280		259,000
Marsh & McLennan Cos., Inc.		15,190		1,033,224
Mercury General Corp.		2,370		149,902
MetLife, Inc.		26,751		1,455,522
Old Republic International Corp.		13,500		280,800
Principal Financial Group, Inc.		6,990		399,059
ProAssurance Corp.		3,000		163,200
Progressive Corp. (The)		19,230		719,971
Prudential Financial, Inc.		12,330		1,296,006
Reinsurance Group of America, Inc.		1,690		212,044


Description	Number of Shares		Value
RenaissanceRe Holdings Ltd.		1,120	$	152,678
Torchmark Corp.		1,695		124,650
Travelers Cos., Inc. (The)		8,880		1,045,886
Unum Group		5,610		254,862
Validus Holdings Ltd.		170		9,690
White Mountains Insurance Group Ltd.		160		145,562
WR Berkley Corp.		3,580		240,612
Xl Group Ltd.		7,270		273,134

			$	19,462,766
MORTGAGE REAL ESTATE INVESTMENT TRUSTS – 0.1%
AGNC Investment Corp.		6,930		129,383
Annaly Capital Management, Inc.		37,380		382,024
Chimera Investment Corp.		6,740		118,826
Starwood Property Trust, Inc.		4,170		92,824
Two Harbors Investment Corp.		1,800		15,786

			$	738,843
THRIFTS & MORTGAGE FINANCE – 0.0%**
New York Community Bancorp, Inc.		6,590		100,102
TFS Financial Corp.		1,050		18,365

			$	118,467

TOTAL FINANCIALS			$	91,605,121
HEALTH CARE – 13.4%
BIOTECHNOLOGY – 2.4%
ACADIA Pharmaceuticals, Inc.^#,*		2,000		69,180
Agios Pharmaceuticals, Inc.^#,*		900		38,727
Alexion Pharmaceuticals, Inc.*		5,090		665,161
Alkermes PLC*		4,400		238,084
Alnylam Pharmaceuticals, Inc.*		1,600		63,984
Amgen, Inc.		20,264		3,174,964
AquaBounty Technologies, Inc.*		27		373
Biogen, Inc.*		5,600		1,552,544
BioMarin Pharmaceutical, Inc.*		4,900		429,387
Celgene Corp.*		20,866		2,423,586
Gilead Sciences, Inc.		34,744		2,517,203
Incyte Corp.*		4,660		564,839
Intercept Pharmaceuticals, Inc.^#,*		300		32,925
Intrexon Corp.^#,*		1,860		39,358
Ionis Pharmaceuticals, Inc.^#,*		3,800		169,100
Juno Therapeutics, Inc.^#,*		1,900		40,546
Neurocrine Biosciences, Inc.*		1,500		64,365
Regeneron Pharmaceuticals, Inc.*		2,400		862,296
Seattle Genetics, Inc.*		2,000		120,480
United Therapeutics Corp.*		1,140		186,538
Vertex Pharmaceuticals, Inc.*		6,343		544,673

			$	13,798,313


Description	Number of Shares		Value
HEALTH CARE EQUIPMENT & SUPPLIES – 2.8%
Abbott Laboratories		41,245	$	1,722,804
ABIOMED, Inc.*		600		63,822
Alere, Inc.*		50		1,850
Align Technology, Inc.*		2,260		207,219
Baxter International, Inc.		16,330		782,370
Becton Dickinson & Co.		6,380		1,131,110
Boston Scientific Corp.*		41,200		991,272
Cooper Cos., Inc. (The)		1,850		341,528
CR Bard, Inc.		2,580		612,311
Danaher Corp.		17,080		1,433,354
DENTSPLY SIRONA, Inc.		8,179		463,749
DexCom, Inc.*		1,200		94,980
Edwards Lifesciences Corp.*		6,472		622,865
Hill-Rom Holdings, Inc.		2,260		133,046
Hologic, Inc.*		6,740		273,172
IDEXX Laboratories, Inc.*		2,680		327,844
Intuitive Surgical, Inc.*		1,100		761,959
Medtronic PLC		35,026		2,662,677
ResMed, Inc.^#		5,720		386,329
Stryker Corp.		10,000		1,235,300
Teleflex, Inc.		2,060		345,524
Varex Imaging Corp.*		1,620		46,575
Varian Medical Systems, Inc.*		4,050		314,483
Zimmer Biomet Holdings, Inc.		5,810		687,497

			$	15,643,640
HEALTH CARE PROVIDERS & SERVICES – 2.4%
Acadia Healthcare Co., Inc.^#,*		1,500		57,555
Aetna, Inc.		8,731		1,035,584
AmerisourceBergen Corp.		5,670		494,878
Anthem, Inc.		6,110		941,795
Brookdale Senior Living, Inc.*		770		11,527
Cardinal Health, Inc.		6,520		488,739
Centene Corp.*		4,132		261,432
Cigna Corp.		5,730		837,841
DaVita, Inc.*		2,788		177,735
Envision Healthcare Corp.^#,*		1,367		92,956
Express Scripts Holding Co.*		14,962		1,030,583
HCA Holdings, Inc.*		7,200		578,016
Henry Schein, Inc.*		3,160		505,158
Humana, Inc.		3,730		740,405
Laboratory Corp. of America Holdings*		2,857		383,438
LifePoint Hospitals, Inc.*		130		7,715
McKesson Corp.		5,000		695,750
MEDNAX, Inc.*		2,640		180,444
Patterson Cos., Inc.		970		40,362


Description	Number of Shares		Value
Premier, Inc., Class A*		1,300	$	41,418
Quest Diagnostics, Inc.		4,350		399,852
Quorum Health Corp.*		61		536
Tenet Healthcare Corp.^#,*		2,425		42,656
UnitedHealth Group, Inc.		25,020		4,055,742
Universal Health Services, Inc., Class B		2,480		279,322
VCA, Inc.*		2,070		187,542
WellCare Health Plans, Inc.*		500		72,770

			$	13,641,751
HEALTH CARE TECHNOLOGY – 0.1%
Allscripts Healthcare Solutions, Inc.*		1,800		21,078
athenahealth, Inc.^#,*		900		113,391
Cerner Corp.*		7,040		378,118
Inovalon Holdings, Inc., Class A^#,*		1,300		15,015
Veeva Systems, Inc., Class A*		3,320		140,536

			$	668,138
LIFE SCIENCES TOOLS & SERVICES – 0.8%
Agilent Technologies, Inc.		7,490		366,785
Bio-Rad Laboratories, Inc., Class A*		890		169,171
Bruker Corp.		4,900		116,277
Charles River Laboratories International, Inc.*		2,620		211,696
Illumina, Inc.*		3,440		550,744
Mettler-Toledo International, Inc.*		1,020		435,163
PerkinElmer, Inc.		4,070		216,483
QIAGEN NV*		2,022		58,604
Quintiles IMS Holdings, Inc.*		2,480		194,655
Thermo Fisher Scientific, Inc.		11,220		1,709,816
VWR Corp.*		6,000		155,460
Waters Corp.*		2,310		327,212

			$	4,512,066
PHARMACEUTICALS – 4.9%
AbbVie, Inc.		44,278		2,705,829
Akorn, Inc.*		1,600		30,560
Allergan PLC*		8,585		1,879,171
Bristol-Myers Squibb Co.		42,260		2,077,502
Eli Lilly & Co.		24,030		1,851,031
Endo International PLC*		7,100		86,904
Johnson & Johnson		72,200		8,176,650
Mallinckrodt PLC*		1,310		63,836
Merck & Co., Inc.		70,866		4,392,983
Mylan NV*		10,130		385,447
Perrigo Co. PLC		2,940		223,881


Description	Number of Shares		Value
Pfizer, Inc.		153,903	$	4,883,342
Zoetis, Inc.		14,481		795,586

			$	27,552,722

TOTAL HEALTH CARE			$	75,816,630
INDUSTRIALS – 10.8%
AEROSPACE & DEFENSE – 2.6%
Arconic, Inc.		6,766		154,197
B/E Aerospace, Inc.		3,000		184,410
Boeing Co. (The)		16,040		2,621,257
BWX Technologies, Inc.		2,940		121,981
General Dynamics Corp.		5,730		1,037,588
HEICO Corp.		1,000		66,300
Hexcel Corp.		3,600		184,860
Honeywell International, Inc.		20,270		2,398,346
Huntington Ingalls Industries, Inc.		1,645		319,064
L3 Technologies, Inc.		2,010		318,967
Lockheed Martin Corp.		6,850		1,721,610
Northrop Grumman Corp.		4,770		1,092,712
Raytheon Co.		8,420		1,213,827
Rockwell Collins, Inc.		2,870		260,481
Spirit Aerosystems Holdings, Inc., Class A		1,940		116,497
Textron, Inc.		4,870		230,692
TransDigm Group, Inc.		1,490		322,436
United Technologies Corp.		20,800		2,281,136

			$	14,646,361
AIR FREIGHT & LOGISTICS – 0.7%
C.H. Robinson Worldwide, Inc.		4,084		310,629
Expeditors International of Washington, Inc.		7,280		379,142
FedEx Corp.		5,960		1,127,096
United Parcel Service, Inc., Class B		18,530		2,022,179

			$	3,839,046
AIRLINES – 0.7%
Alaska Air Group, Inc.		4,400		412,808
American Airlines Group, Inc.		14,900		659,325
Copa Holdings SA, Class A Class A^#		200		19,498
Delta Air Lines, Inc.		22,090		1,043,532
JetBlue Airways Corp.*		10,000		196,100
Southwest Airlines Co.		16,330		854,222
Spirit Airlines, Inc.*		1,500		81,060
United Continental Holdings, Inc.*		8,383		590,750

			$	3,857,295
BUILDING PRODUCTS – 0.4%
Allegion PLC		2,233		146,641
Armstrong Flooring, Inc.*		310		6,519
Armstrong World Industries, Inc.^#,*		620		24,769


Description	Number of Shares		Value
Fortune Brands Home & Security, Inc.		4,760	$	262,419
Johnson Controls International PLC		21,131		929,341
Lennox International, Inc.^#		1,490		233,647
Masco Corp.		10,930		360,143
Owens Corning		2,290		126,523
Smith (A.O.) Corp.		5,000		243,750

			$	2,333,752
COMMERCIAL SERVICES & SUPPLIES – 0.4%
Cintas Corp.		3,520		408,707
Copart, Inc.*		1,900		107,806
Herc Holdings, Inc.*		520		25,828
KAR Auction Services, Inc.		4,100		186,755
Lsc Communications, Inc.		396		10,383
R.R. Donnelley & Sons Co.^#		1,056		18,110
Republic Services, Inc.		8,740		501,501
Stericycle, Inc.*		1,552		119,721
Waste Management, Inc.		13,340		927,130

			$	2,305,941
CONSTRUCTION & ENGINEERING – 0.1%
AECOM*		3,191		117,844
Chicago Bridge & Iron Co. NV		1,382		45,896
Fluor Corp.		3,750		208,125
Jacobs Engineering Group, Inc.*		4,150		242,982
KBR, Inc.		4,450		75,694
Quanta Services, Inc.*		2,760		99,056
TopBuild Corp.*		1,736		64,423

			$	854,020
ELECTRICAL EQUIPMENT – 0.5%
Acuity Brands, Inc.		1,300		269,399
AMETEK, Inc.		3,260		166,586
Babcock & Wilcox Enterprises, Inc.*		1,470		24,461
Eaton Corp. PLC		13,778		975,207
Emerson Electric Co.		14,540		852,916
Hubbell, Inc.		1,290		157,483
Regal Beloit Corp.		600		43,560
Rockwell Automation, Inc.		2,320		343,337

			$	2,832,949
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 0.1%
Fortive Corp.		8,540		472,347
INDUSTRIAL CONGLOMERATES – 1.9%
3M Co.		15,560		2,720,199
Carlisle Cos., Inc.		1,290		140,752
General Electric Co.		239,420		7,110,774
Roper Technologies, Inc.		3,000		575,550

			$	10,547,275


Description	Number of Shares		Value
MACHINERY – 1.9%
AGCO Corp.		3,260	$	204,728
Allison Transmission Holdings, Inc.		4,800		167,904
Caterpillar, Inc.		15,500		1,482,730
Colfax Corp.*		2,900		113,100
Crane Co.		1,200		86,448
Cummins, Inc.		4,980		732,110
Deere & Co.		8,390		898,149
Donaldson Co., Inc.^#		4,010		169,422
Dover Corp.		4,160		323,440
Flowserve Corp.^#		3,000		147,480
Graco, Inc.		2,140		191,723
IDEX Corp.		2,120		191,139
Illinois Tool Works, Inc.		8,000		1,017,600
Ingersoll-Rand PLC		8,150		646,703
ITT, Inc.		2,535		103,605
Joy Global, Inc.		600		16,872
Lincoln Electric Holdings, Inc.		2,600		216,762
Manitowoc Co., Inc. (The)*		3,910		26,705
Manitowoc Foodservice, Inc.*		3,910		74,994
Middleby Corp. (The)*		1,600		214,688
Nordson Corp.		2,000		227,060
Oshkosh Corp.		1,790		124,638
PACCAR, Inc.		11,090		746,468
Parker-Hannifin Corp.		2,960		435,505
Pentair PLC		3,816		223,732
Snap-on, Inc.		1,280		232,358
SPX Corp.*		330		8,234
Stanley Black & Decker, Inc.		4,220		523,280
Terex Corp.		3,730		118,614
Timken Co. (The)		600		26,640
Toro Co. (The)		4,680		275,792
Trinity Industries, Inc.		2,400		66,096
Valmont Industries, Inc.		1,060		152,640
WABCO Holdings, Inc.*		2,050		223,512
Wabtec Corp.^#		1,720		149,021
Xylem, Inc.		5,010		247,043

			$	10,806,935
MARINE – 0.0%**
Kirby Corp.*		900		58,005
PROFESSIONAL SERVICES – 0.3%
Dun & Bradstreet Corp. (The)		930		114,037
Equifax, Inc.		4,060		476,157
IHS Markit Ltd.*		787		31,047
ManpowerGroup, Inc.		1,860		177,556
Nielsen Holdings PLC		7,450		304,780


Description	Number of Shares		Value
Robert Half International, Inc.		2,060	$	96,944
TransUnion*		2,400		75,672
Verisk Analytics, Inc.*		4,800		396,672

			$	1,672,865
ROAD & RAIL – 1.0%
AMERCO		300		113,001
Avis Budget Group, Inc.*		2,180		81,140
CSX Corp.		26,300		1,220,057
Hertz Global Holdings, Inc.*		1,560		32,713
JB Hunt Transport Services, Inc.		2,980		295,258
Kansas City Southern		2,180		187,284
Landstar System, Inc.		1,590		134,514
Norfolk Southern Corp.		8,860		1,040,696
Old Dominion Freight Line, Inc.*		2,100		185,388
Ryder System, Inc.		40		3,104
Union Pacific Corp.		23,270		2,480,117

			$	5,773,272
TRADING COMPANIES & DISTRIBUTORS – 0.2%
Air Lease Corp.		1,200		43,656
Fastenal Co.		4,120		204,682
HD Supply Holdings, Inc.*		6,400		270,720
MSC Industrial Direct Co., Inc. Class A		1,390		141,988
NOW, Inc.*		1,663		35,355
United Rentals, Inc.*		2,820		356,758
Watsco, Inc.		100		15,274
WW Grainger, Inc.^#		1,140		287,930

			$	1,356,363
TRANSPORTATION INFRASTRUCTURE – 0.0%**
Macquarie Infrastructure Corp.		100		7,499

TOTAL INDUSTRIALS			$	61,363,925
INFORMATION TECHNOLOGY – 21.5%
COMMERCIAL SERVICES & SUPPLIES – 0.0%**
Sabre Corp.^#		1,420		34,790
COMMUNICATIONS EQUIPMENT – 1.4%
Brocade Communications Systems, Inc.		8,590		107,117
Cisco Systems, Inc.		138,750		4,262,400
EchoStar Corp., Class A*		970		49,402
F5 Networks, Inc.*		1,990		266,720
Harris Corp.		2,859		293,648
Juniper Networks, Inc.		10,390		278,244
Lumentum Holdings, Inc.*		610		23,149
Motorola Solutions, Inc.		6,030		486,681
Palo Alto Networks, Inc.*		2,590		382,180
QUALCOMM, Inc.		37,380		1,997,213
Viavi Solutions, Inc.*		5,890		52,716

			$	8,199,470


Description	Number of Shares		Value
COMPUTERS & PERIPHERALS – 3.6%
Apple, Inc.		146,960	$	17,833,596
Hewlett Packard Enterprise Co.		49,690		1,126,969
HP, Inc.		45,390		683,119
NCR Corp.*		2,220		95,504
NetApp, Inc.		3,553		136,151
Western Digital Corp.		6,183		492,971

			$	20,368,310
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 0.5%
Amphenol Corp., Class A		10,100		681,649
Arrow Electronics, Inc.*		2,940		216,149
CDW Corp.		4,990		257,035
Cognex Corp.		3,200		216,192
Corning, Inc.		29,270		775,362
Dolby Laboratories, Inc., Class A		150		7,186
Fitbit, Inc., Class A^#,*		200		1,202
FLIR Systems, Inc.		2,090		73,840
IPG Photonics Corp.*		1,400		160,986
Keysight Technologies, Inc.*		100		3,707
National Instruments Corp.		1,930		60,641
Trimble Navigation Ltd.*		10,380		307,456

			$	2,761,405
INTERNET SOFTWARE & SERVICES – 4.3%
Akamai Technologies, Inc.*		4,750		325,802
Alphabet, Inc., Class C*		15,924		12,872,827
CoStar Group, Inc.*		1,300		262,730
eBay, Inc.*		32,490		1,034,157
Facebook, Inc., Class A*		60,680		7,907,818
GoDaddy, Inc., Class A*		750		26,797
IAC/InterActiveCorp*		1,300		89,453
Match Group, Inc.^#,*		2,400		41,688
Pandora Media, Inc.^#,*		2,000		26,000
Twitter, Inc.^#,*		10,310		181,662
VeriSign, Inc.^#,*		3,950		316,830
Yahoo!, Inc.*		24,230		1,067,816
Yelp, Inc.*		3,600		150,408
Zillow Group, Inc., Class A^#,*		3,500		124,550

			$	24,428,538
IT SERVICES – 4.1%
Accenture PLC, Class A		17,800		2,026,886
Alliance Data Systems Corp.		1,290		294,610
Amdocs Ltd.		2,620		153,820
Automatic Data Processing, Inc.		13,330		1,346,197
Black Knight Financial Services, Inc., Class A^#,*		400		14,580


Description	Number of Shares		Value
Booz Allen Hamilton Holding Corp.		3,460	$	117,017
Broadridge Financial Solutions, Inc.		3,630		241,504
Cognizant Technology Solutions Corp., Class A*		13,510		710,491
Computer Sciences Corp.		3,800		236,360
Conduent, Inc.*		3,142		47,004
CoreLogic, Inc.*		880		31,038
CSRA, Inc.		3,300		102,366
DST Systems, Inc.		1,670		192,300
Fidelity National Information Services, Inc.		7,943		630,833
First Data Corp., Class A*		8,200		125,788
Fiserv, Inc.*		7,260		779,942
FleetCor Technologies, Inc.*		2,600		383,474
Gartner, Inc.*		3,500		347,760
Genpact Ltd.*		9,100		224,588
Global Payments, Inc.		5,000		386,400
International Business Machines Corp.		23,260		4,059,335
Jack Henry & Associates, Inc.		1,900		170,582
Leidos Holdings, Inc.		2,200		106,304
Mastercard, Inc., Class A		27,020		2,873,037
Paychex, Inc.		10,770		649,323
PayPal Holdings, Inc.*		33,865		1,347,150
Square, Inc., Class A*		2,800		40,936
Teradata Corp.*		270		7,927
Total System Services, Inc.		3,720		188,530
Vantiv, Inc., Class A*		5,900		367,216
VeriFone Systems, Inc.*		3,000		54,510
Visa, Inc., Class A		52,420		4,335,658
Western Union Co. (The)		18,640		364,971
Xerox Corp.		15,710		108,870

			$	23,067,307
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 3.0%
Analog Devices, Inc.		8,220		616,007
Applied Materials, Inc.		32,380		1,109,015
Broadcom Ltd.		10,733		2,141,234
Cypress Semiconductor Corp.		12,000		141,600
Intel Corp.		129,570		4,770,767
KLA-Tencor Corp.		5,850		497,893
Lam Research Corp.		5,280		606,461
Linear Technology Corp.		5,310		335,220
Marvell Technology Group Ltd.		11,490		170,856
Maxim Integrated Products, Inc.		10,220		454,586
Microchip Technology, Inc.		7,039		474,077
Micron Technology, Inc.*		24,400		588,284
NVIDIA Corp.		14,480		1,580,926
ON Semiconductor Corp.*		4,320		57,542
Qorvo, Inc.*		4,250		272,893


Description	Number of Shares		Value
Skyworks Solutions, Inc.		6,000	$	550,440
SunPower Corp.^#,*		900		5,976
Teradyne, Inc.		7,450		211,431
Texas Instruments, Inc.		28,400		2,145,336
Versum Materials, Inc.*		2,600		72,670
Xilinx, Inc.		5,500		320,100

			$	17,123,314
SOFTWARE – 4.6%
Activision Blizzard, Inc.		17,970		722,574
Adobe Systems, Inc.*		14,260		1,616,799
ANSYS, Inc.*		1,380		128,699
Atlassian Corp. PLC, Class A*		900		24,867
Autodesk, Inc.*		6,730		547,418
CA, Inc.		10,480		327,710
Cadence Design Systems, Inc.*		11,710		304,811
CDK Global, Inc.		4,676		292,484
Citrix Systems, Inc.*		4,990		455,038
CommerceHub, Inc.*		1,230		17,979
Dell Technologies, Inc., Class V*		3,283		206,796
Electronic Arts, Inc.*		9,110		760,047
Fortinet, Inc.*		2,400		79,824
Intuit, Inc.		7,600		901,208
Microsoft Corp.		203,099		13,130,350
Oracle Corp.		76,410		3,064,805
PTC, Inc.*		2,100		110,397
Red Hat, Inc.*		5,130		389,264
salesforce.com, Inc.*		17,530		1,386,623
ServiceNow, Inc.*		4,500		407,790
Splunk, Inc.*		1,600		92,576
Symantec Corp.		12,420		342,171
Synopsys, Inc.*		2,600		163,514
Tableau Software, Inc., Class A*		1,100		52,624
Ultimate Software Group, Inc.*		540		104,576
VMware, Inc., Class A^#,*		1,510		132,185
Workday, Inc., Class A*		1,550		128,790
Zynga, Inc., Class A*		19,850		50,022

			$	25,941,941
TELECOMMUNICATIONS – 0.0%**
Arista Networks, Inc.*		200		18,800

TOTAL INFORMATION TECHNOLOGY			$	121,943,875
MATERIALS – 3.3%
CHEMICALS – 2.2%
AdvanSix, Inc.*		3,774		96,954
Air Products & Chemicals, Inc.		5,200		726,752
Albemarle Corp.		2,000		185,280


Description	Number of Shares		Value
Ashland Global Holdings, Inc.		1,200	$	142,836
Axalta Coating Systems Ltd.*		4,300		124,700
Cabot Corp.		600		33,222
Celanese Corp.		3,500		295,400
CF Industries Holdings, Inc.		9,500		335,255
Dow Chemical Co. (The)		30,900		1,842,567
E.I. du Pont de Nemours & Co.		24,100		1,819,550
Eastman Chemical Co.		4,000		310,000
Ecolab, Inc.		5,900		708,767
FMC Corp.		3,900		234,624
GCP Applied Technologies, Inc.*		1,000		26,950
Huntsman Corp.		5,200		106,028
Ingevity Corp.*		1,100		61,149
International Flavors & Fragrances, Inc.		1,000		117,210
LyondellBasell Industries NV, Class A		10,400		970,008
Monsanto Co.		11,100		1,202,241
Mosaic Co. (The)		6,100		191,357
PPG Industries, Inc.		6,300		630,063
Praxair, Inc.		7,100		840,924
RPM International, Inc.		2,700		141,102
Sherwin-Williams Co. (The)		1,800		546,858
Valspar Corp. (The)		1,300		143,871
Valvoline, Inc.^#		8,500		196,775
Westlake Chemical Corp.		1,300		80,483
WR Grace & Co.		1,700		117,878

			$	12,228,804
CONSTRUCTION MATERIALS – 0.2%
Eagle Materials, Inc.		1,000		104,580
Martin Marietta Materials, Inc.		1,400		321,440
Vulcan Materials Co.		4,000		513,320

			$	939,340
CONTAINERS & PACKAGING – 0.3%
Avery Dennison Corp.		900		65,718
Ball Corp.		2,700		205,902
Bemis Co., Inc.		4,400		214,368
Owens-Illinois, Inc.*		12,800		241,920
Packaging Corp. of America		2,200		202,796
Sealed Air Corp.		2,600		126,100
Silgan Holdings, Inc.		3,600		210,636
WestRock Co.		7,400		394,864

			$	1,662,304
METALS & MINING – 0.5%
Alcoa Corp.		6,288		229,198
Freeport-McMoRan, Inc.*		38,400		639,360
Newmont Mining Corp.		12,300		446,244
Nucor Corp.		9,600		557,664
POSCO ADR		900		52,092


Description	Number of Shares		Value
Reliance Steel & Aluminum Co.		1,800	$	143,370
Royal Gold, Inc.		3,000		216,510
Southern Copper Corp.^#		2,400		92,064
Steel Dynamics, Inc.		6,200		209,622
Tahoe Resources, Inc.		6,000		54,840
United States Steel Corp.		5,200		170,092

			$	2,811,056
PAPER & FOREST PRODUCTS – 0.1%
Domtar Corp.		3,100		135,439
International Paper Co.		13,200		747,120

			$	882,559

TOTAL MATERIALS			$	18,524,063
REAL ESTATE – 3.3%
REAL ESTATE INVESTMENT TRUSTS – 3.2%
Alexandria Real Estate Equities, Inc.		2,915		323,040
American Campus Communities, Inc.		4,700		228,514
American Homes 4 Rent, Class A		1,650		36,762
American Tower Corp.		10,960		1,134,360
Apartment Investment & Management Co., Class A		3,970		174,958
AvalonBay Communities, Inc.		3,222		558,405
Boston Properties, Inc.		4,550		595,595
Brandywine Realty Trust		4,680		75,348
Brixmor Property Group, Inc.		3,650		88,074
Camden Property Trust		2,670		223,132
Care Capital Properties, Inc.		796		19,669
Colony NorthStar, Inc., Class A		15,076		209,858
Communications Sales & Leasing, Inc.*		3,350		88,038
CoreCivic, Inc.		2,367		68,738
Corporate Office Properties Trust		4,700		149,554
Crown Castle International Corp.		9,340		820,332
CyrusOne, Inc.^#		600		28,896
Digital Realty Trust, Inc.^#		3,910		420,833
Douglas Emmett, Inc.		4,410		166,874
Duke Realty Corp.		10,010		243,543
Empire State Realty Trust, Inc., Class A		1,600		32,784
Equinix, Inc.		1,781		685,649
Equity Commonwealth*		4,992		153,953
Equity Lifestyle Properties, Inc.		3,400		251,396
Equity Residential		5,850		355,504
Essex Property Trust, Inc.		1,073		240,674
Extra Space Storage, Inc.		3,100		223,355
Federal Realty Investment Trust		1,970		276,647
Forest City Realty Trust, Inc., Class A		3,400		76,976
Gaming and Leisure Properties, Inc.		1,404		44,409
GGP, Inc.		14,643		363,732


Description	Number of Shares		Value
HCP, Inc.		5,530	$	167,670
Healthcare Trust of America, Inc., Class A		7,100		206,397
Hospitality Properties Trust		6,800		211,684
Host Hotels & Resorts, Inc.		19,340		349,474
Iron Mountain, Inc.		7,303		261,447
Kilroy Realty Corp.		3,925		293,786
Kimco Realty Corp.		12,980		323,072
Lamar Advertising Co., Class A		2,400		181,248
Liberty Property Trust		4,040		155,096
Life Storage, Inc.		1,100		89,595
Macerich Co. (The)		2,560		175,846
Mid-America Apartment Communities, Inc.		3,271		310,581
National Retail Properties, Inc.		2,500		109,000
Omega Healthcare Investors, Inc.^#		2,850		91,400
Outfront Media, Inc.		1,300		35,659
Park Hotels & Resorts, Inc.		1,472		39,950
Piedmont Office Realty Trust, Inc., Class A		4,950		107,514
Prologis, Inc.		13,490		658,987
Public Storage		4,060		872,900
Quality Care Properties, Inc.*		1,666		30,754
Rayonier, Inc.		5,615		156,602
Realty Income Corp.		6,710		400,117
Regency Centers Corp.		2,035		141,901
Retail Properties of America, Inc., Class A		7,400		110,778
Senior Housing Properties Trust		7,000		133,350
Simon Property Group, Inc.		6,693		1,229,973
SL Green Realty Corp.		1,190		129,674
Spirit Realty Capital, Inc.		14,700		154,644
Tanger Factory Outlet Centers, Inc.		3,100		105,989
Taubman Centers, Inc.		2,480		175,683
UDR, Inc.		8,580		299,871
Ventas, Inc.		8,286		510,998
VEREIT, Inc.		19,600		167,188
Vornado Realty Trust		5,073		539,311
Washington Prime Group, Inc.		6,176		59,598
Weingarten Realty Investors		3,560		126,843
Welltower, Inc.		5,970		395,811
Weyerhaeuser Co.		13,642		427,404

			$	18,297,397
REAL ESTATE MANAGEMENT & DEVELOPMENT – 0.1%
CBRE Group, Inc., Class A*		8,810		267,472
Howard Hughes Corp. (The)*		658		70,149
Realogy Holdings Corp.		400		10,364

			$	347,985

TOTAL REAL ESTATE			$	18,645,382


Description	Number of Shares		Value
TELECOMMUNICATION SERVICES – 2.8%
DIVERSIFIED TELECOMMUNICATION SERVICES – 2.6%
AT&T, Inc.		185,100	$	7,803,816
CenturyLink, Inc.		11,100		287,046
Frontier Communications Corp.^#		9,000		31,410
Level 3 Communications, Inc.*		10,500		624,330
SBA Communications Corp.*		2,950		310,517
Verizon Communications, Inc.		121,900		5,974,319

			$	15,031,438
WIRELESS TELECOMMUNICATION SERVICES – 0.2%
SBA Communications Corp., Class A		1,900		199,994
Sprint Corp.^#,*		27,450		253,364
T-Mobile US, Inc.*		8,700		541,749
United States Cellular Corp.*		600		26,754

			$	1,021,861

TOTAL TELECOMMUNICATION SERVICES			$	16,053,299
TELECOMMUNICATIONS – 0.0%**
DIVERSIFIED TELECOMMUNICATION SERVICES – 0.0%**
Zayo Group Holdings, Inc.*		700		22,372
UTILITIES – 1.5%
ELECTRIC UTILITIES – 0.8%
American Electric Power Co., Inc.		4,100		262,646
Avangrid, Inc.		2,900		112,520
Duke Energy Corp.		10,800		848,232
Edison International		2,500		182,200
Entergy Corp.		4,000		286,560
Eversource Energy		4,300		237,876
Exelon Corp.		14,400		516,672
FirstEnergy Corp.		7,000		212,240
NextEra Energy, Inc.		4,500		556,740
PPL Corp.		13,400		466,856
Southern Co. (The)		13,400		662,362

			$	4,344,904
GAS UTILITIES – 0.0%**
UGI Corp.		1,400		64,918
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS – 0.1%
AES Corp.		16,300		186,472
Calpine Corp.*		15,800		186,440
NRG Energy, Inc.		15,500		256,370

			$	629,282
MULTI-UTILITIES – 0.5%
CenterPoint Energy, Inc.		10,500		275,205
CMS Energy Corp.		6,200		264,120
Consolidated Edison, Inc.		5,300		394,055
Dominion Resources, Inc.		8,500		648,380
OGE Energy Corp.		5,900		197,886


Description	Number of Shares		Value
PG&E Corp.		5,300	$	328,017
Public Service Enterprise Group, Inc.		3,500		154,875
Sempra Energy		1,900		194,541
Vectren Corp.		1,100		60,379
WEC Energy Group, Inc.		1,900		112,195
Xcel Energy, Inc.		8,600		355,352

			$	2,985,005
WATER UTILITIES – 0.1%
American Water Works Co., Inc.		1,800		132,192
Aqua America, Inc.		3,600		109,476

			$	241,668

TOTAL UTILITIES			$	8,265,777

TOTAL COMMON STOCKS (COST $361,890,723)			$	563,891,279
INVESTMENT COMPANIES – 0.3%
EQUITY FUNDS – 0.3%
iShares Russell 1000 ETF^#		6,010		762,429
iShares Russell 1000 Growth ETF		3,950		427,982
iShares Russell 1000 Value ETF		3,950		445,204

TOTAL EQUITY FUNDS			$	1,635,615

TOTAL INVESTMENT COMPANIES (COST $1,619,673)			$	1,635,615
RIGHTS – 0.0%**
Celgene Corp.*^,††		89		93
Community Health Systems, Inc.*		3,700		19

TOTAL RIGHTS (COST $142)			$	112
WARRANTS – 0.0%**
American International Group, Inc. CW21, Expire 1/19/21*		2,055		45,683
Kinder Morgan, Inc., Expire 5/25/17*		16,345		85

TOTAL WARRANTS (COST $48,690)			$	45,768

TOTAL INVESTMENTS IN SECURITIES – 99.9% (COST $363,559,228)			$	565,572,774


Description	Par Value		Value
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 1.9%
REPURCHASE AGREEMENTS – 1.9%
Credit Suisse Securities (USA) LLC, 0.54%, dated 1/31/17, due 2/01/17, repurchase price $532,693, collateralized by U.S. Treasury Securities 0.13% to 2.13%, maturing 1/15/19 to 1/15/27; total market value of $543,342.	$	532,685	$	532,685
Daiwa Capital Markets America, 0.58%, dated 1/31/17, due 2/01/17, repurchase price $2,024,958, collateralized by U.S. Government & Treasury Securities 0.00% to 8.88%, maturing 2/16/17 to 9/09/49; total market value of $2,065,423.		2,024,925		2,024,925
HSBC Securities USA, Inc., 0.53%, dated 1/31/17, due 2/01/17, repurchase price $2,024,955, collateralized by U.S. Government Securities 2.50% to 6.00%,maturing 10/01/22 to 2/01/47; total market value of $2,065,424.		2,024,925		2,024,925
Merrill Lynch, Pierce, Fenner & Smith, Inc., 0.55%, dated 1/31/17, due 2/01/17,repurchase price $2,024,956, collateralized by U.S. Government Securities 2.32% to 8.50%, maturing 12/15/25 to 12/20/66;total market value of $2,065,424.		2,024,925		2,024,925
Nomura Securities International, Inc., 0.55%, dated 1/31/17, due 2/01/17,repurchase price $2,024,956, collateralized by U.S. Government Securities 0.00% to 7.13%, maturing 2/10/17 to 12/20/66; total market value of $2,065,423.		2,024,925		2,024,925
RBC Dominion Securities, Inc., 0.56%, dated 1/31/17, due 2/01/17, repurchase price $2,024,956, collateralized by U.S. Government Securities 3.00% to 7.00%,maturing 3/01/37 to 1/01/47; total market value of $2,065,424.		2,024,925		2,024,925

TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $10,657,310)			$	10,657,310

TOTAL INVESTMENTS – 101.8% (COST $374,216,538)			$	576,230,084
COLLATERAL FOR SECURITIES ON LOAN – (1.9%)				(10,657,310	)
OTHER ASSETS LESS LIABILITIES – 0.1%				408,136

TOTAL NET ASSETS – 100.0%			$	565,980,910

Cost of investments for Federal income tax purposes is $387,917,044. The net unrealized appreciation/(depreciation) of investments was $188,313,040. This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $203,961,566 and net unrealized depreciation from investments for those securities having an excess of cost over value of $15,648,526.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2017 in valuing the Fund’s assets carried at fair value:


Description	Number of Shares		Value
COMMON STOCKS – 90.8%
AUSTRALIA – 0.0%**
Arrium Ltd.*^,††		532,800	$	—
AUSTRIA – 0.2%
ams AG^#		20,969		719,415
BELGIUM – 1.4%
Ackermans & van Haaren NV		8,151		1,109,560
Anheuser-Busch InBev SA/NV		44,408		4,609,305

TOTAL BELGIUM			$	5,718,865
BERMUDA – 0.3%
Hiscox Ltd.		101,943		1,315,791
BULGARIA – 0.0%**
Olovno Tzinkov Komplex AD*^,††		900		—
Petrol AD*^,††		9,534		2,078

TOTAL BULGARIA			$	2,078
CHINA – 6.0%
AAC Technologies Holdings, Inc.		131,500		1,355,862
Alibaba Group Holding Ltd. ADR*		52,317		5,300,235
China Mobile Ltd.		191,000		2,162,594
China Pacific Insurance Group Co. Ltd.		663,200		2,376,234
China Resources Phoenix Healthcare
Holdings Co. Ltd.*		21,000		28,419
Ctrip.com International Ltd. ADR*		29,237		1,263,331
Haitian International Holdings Ltd.		684,000		1,394,641
Hollysys Automation Technologies Ltd.		52,859		893,317
NetEase, Inc. ADR		2,140		543,346
New Oriental Education & Technology
Group, Inc. ADR*		31,511		1,498,348
Shenzhou International Group Holdings Ltd.		251,000		1,554,415
Tencent Holdings Ltd.		243,600		6,417,384

TOTAL CHINA			$	24,788,126
DENMARK – 2.0%
Coloplast A/S		20,989		1,501,554
DSV A/S		42,403		2,058,455
FLSmidth & Co. A/S^#		36,217		1,681,394
Novo Nordisk A/S Class B		83,363		2,993,998

TOTAL DENMARK			$	8,235,401
FRANCE – 9.3%
Bouygues SA		77,422		2,812,800


Description	Number of Shares		Value
Bureau Veritas SA		70,147	$	1,372,120
Carrefour SA		117,113		2,864,139
Cie Generale des Etablissements Michelin		26,925		2,888,548
Edenred		68,301		1,486,792
Elior Group^W		75,258		1,681,698
Groupe Fnac SA*		16,968		1,099,023
Ingenico SA		15,933		1,342,613
Kering		11,923		2,834,182
Legrand SA		16,421		953,334
L’Oreal SA		6,512		1,183,457
LVMH Moet Hennessy Louis Vuitton SA		14,892		2,999,781
Nexans SA*		21,041		1,219,962
Publicis Groupe SA		42,310		2,903,032
Sartorius Stedim Biotech		20,625		1,246,829
SCOR SE		38,554		1,304,972
Societe BIC SA		9,192		1,201,157
SPIE SA		59,005		1,337,621
Valeo SA		48,199		2,940,797
Vinci SA		40,773		2,856,553

TOTAL FRANCE			$	38,529,410
GERMANY – 9.3%
adidas AG		18,076		2,842,089
AURELIUS Equity Opportunities SE & Co.
KGaA^#		21,578		1,359,180
Brenntag AG		15,042		872,626
Deutsche Post AG		84,491		2,823,359
Deutsche Telekom AG		168,619		2,941,526
Fielmann AG		21,998		1,535,004
Fresenius SE & Co. KGaA		29,129		2,293,278
Hugo Boss AG		21,827		1,397,248
Infineon Technologies AG		181,596		3,330,616
Jenoptik AG		84,012		1,604,785
Kion Group AG		23,788		1,445,743
LANXESS AG		16,698		1,210,418
Merck KGaA		27,132		2,977,242
Muenchener Rueckversicherungs AG		15,539		2,915,397
OSRAM Licht AG		17,528		1,014,764
SAF-Holland SA		77,984		1,182,367
SAP SE		54,957		5,020,792
Scout24 AG*^,W		13,982		498,166
Sixt SE		24,017		1,246,027

TOTAL GERMANY			$	38,510,627


Description	Number of Shares		Value
GHANA – 0.0%**
Produce Buying Co. Ltd.*		288,000	$	3,961
HONG KONG – 5.5%
AIA Group Ltd.		790,000		4,917,836
ASM Pacific Technology Ltd.		94,600		1,152,187
BOC Hong Kong Holdings Ltd.		346,500		1,393,342
CK Hutchison Holdings Ltd.		117,500		1,415,197
Galaxy Entertainment Group Ltd.		152,000		727,784
Hongkong Land Holdings Ltd.		317,600		2,143,800
Jardine Matheson Holdings Ltd.		52,700		3,252,644
Johnson Electric Holdings Ltd.		598,500		1,596,741
Sun Hung Kai Properties Ltd.		106,000		1,467,270
Swire Properties Ltd.		810,200		2,286,842
Techtronic Industries Co. Ltd.		718,500		2,491,030

TOTAL HONG KONG			$	22,844,673
INDIA – 1.8%
Cox & Kings Ltd. GDR		22,209		63,702
HDFC Bank Ltd. ADR		64,800		4,466,664
Infosys Ltd. ADR		78,900		1,086,453
Jain Irrigation Systems Ltd.		80,831		56,234
Suzlon Energy Ltd. GDR – Reg S*		77,213		77,846
Tata Motors Ltd. ADR		42,000		1,636,320
United Spirits Ltd. GDR^#		537		8,622

TOTAL INDIA			$	7,395,841
INDONESIA – 0.0%**
Pembangunan Perumahan Persero Tbk PT		19		5
Sugih Energy Tbk PT*^,††		1,327,300		5,567

TOTAL INDONESIA			$	5,572
IRELAND – 3.0%
DCC PLC		12,542		1,008,996
Glanbia PLC		78,576		1,327,483
Kerry Group PLC Class A		15,069		1,060,938
Kingspan Group PLC		39,971		1,163,295
Paddy Power Betfair PLC		29,600		3,093,086
Ryanair Holdings PLC*		185,211		2,864,088
Ryanair Holdings PLC ADR*		12,500		1,045,750
UDG Healthcare PLC		131,427		1,059,802

TOTAL IRELAND			$	12,623,438
ITALY – 2.6%
Atlantia SpA		125,086		2,842,403
Credito Emiliano SpA^#		212,738		1,377,911
FinecoBank Banca Fineco SpA		241,652		1,432,147
Luxottica Group SpA^#		11,478		615,687
Salvatore Ferragamo SpA^#		57,180		1,509,204


Description	Number of Shares		Value
Snam SpA		750,500	$	2,851,795

TOTAL ITALY			$	10,629,147
JAPAN – 18.1%
77 Bank Ltd. (The)		162,000		753,255
AEON Financial Service Co. Ltd.		30,400		544,405
Aeon Mall Co. Ltd.		33,200		481,931
Ajinomoto Co., Inc.		30,300		598,030
Alpine Electronics, Inc.		25,600		373,650
Anritsu Corp.		62,000		428,306
AOI TYO Holdings, Inc.		75,700		567,197
Ariake Japan Co. Ltd.		9,000		476,663
Astellas Pharma, Inc.		38,300		513,392
Bridgestone Corp.		7,500		275,197
Casio Computer Co. Ltd.		42,800		592,855
D.A. Consortium Holdings, Inc.*		30,700		230,569
Daibiru Corp.		38,300		347,688
Daihatsu Diesel Manufacturing Co. Ltd.		102,500		615,490
Dai-ichi Life Holdings, Inc.		52,100		951,468
Daikin Industries Ltd.		17,000		1,690,063
Daiwa House Industry Co. Ltd.		20,400		553,588
Daiwa Securities Group, Inc.		52,000		333,203
DeNA Co. Ltd.		30,600		685,390
Denka Co. Ltd.		157,000		773,111
Denki Kogyo Co. Ltd.		32,000		164,662
Denso Corp.		8,000		347,250
East Japan Railway Co.		5,700		516,438
Ebara Corp.		4,100		126,729
Electric Power Development Co. Ltd.		44,200		1,026,805
ESPEC Corp.		74,900		849,764
F-Tech, Inc.^#		34,100		385,969
Hino Motors Ltd.		51,500		545,058
Hitachi Ltd.		166,000		952,100
Hitachi Metals Ltd.		23,300		323,158
Honda Motor Co. Ltd.		39,700		1,190,895
Hosiden Corp.		43,600		337,494
Inpex Corp.		39,700		390,460
ITOCHU Corp.		39,700		547,101
J Front Retailing Co. Ltd.		31,600		457,026
Jaccs Co. Ltd.		120,000		543,087
Jafco Co. Ltd.		27,800		940,537
Japan Tobacco, Inc.		7,300		235,338
JFE Holdings, Inc.		64,700		1,135,731
JX Holdings, Inc.		45,200		213,210
Kansai Paint Co. Ltd.		18,400		357,538
KDDI Corp.		23,000		617,217
Kewpie Corp.		4,100		102,328


Description	Number of Shares		Value
Kinden Corp.		20,800	$	264,168
Kojima Co. Ltd.*		192,000		464,228
Komatsu Ltd.		18,700		446,177
Komehyo Co. Ltd.		68,600		767,960
Kubota Corp.		21,200		337,968
Kyushu Railway Co.*		5,800		157,187
Maeda Corp.		49,000		427,030
Marui Group Co. Ltd.		21,700		310,577
Maruwa Co. Ltd.		18,500		608,693
Mazda Motor Corp.		15,600		230,456
MEIJI Holdings Co. Ltd.		4,800		371,553
Mimasu Semiconductor Industry Co. Ltd.		59,500		960,663
Mirait Holdings Corp.		51,700		471,623
Mitsubishi Corp.		39,900		900,939
Mitsubishi Electric Corp.		53,300		812,647
Mitsubishi Estate Co. Ltd.		19,000		363,896
Mitsubishi Heavy Industries Ltd.		88,000		396,627
Mitsubishi UFJ Financial Group, Inc.		300,600		1,945,873
Mitsui & Co. Ltd.		29,600		434,261
Mitsui Fudosan Co. Ltd.		34,000		787,893
Mizuho Financial Group, Inc.		456,600		850,438
Morinaga & Co. Ltd.		15,300		661,270
MS&AD Insurance Group Holdings, Inc.		16,600		557,940
Musashi Seimitsu Industry Co. Ltd.		22,800		628,005
Nankai Electric Railway Co. Ltd.		106,000		524,790
NET One Systems Co. Ltd.		39,500		269,724
Nichias Corp.		19,000		195,031
Nintendo Co. Ltd.		5,700		1,167,160
Nippon Electric Glass Co. Ltd.		20,000		115,313
Nippon Sheet Glass Co. Ltd.*		118,700		977,690
Nippon Soda Co. Ltd.		56,000		272,784
Nippon Steel & Sumitomo Metal Corp.		23,800		576,820
Nippon Telegraph & Telephone Corp.		9,800		432,151
Nishimatsu Construction Co. Ltd.		60,000		300,239
Nissin Kogyo Co. Ltd.^#		194,300		3,216,249
Nitori Holdings Co. Ltd.		20,100		2,246,586
Nitto Kogyo Corp.		16,900		230,802
Nomura Holdings, Inc.		80,200		499,696
Noritake Co. Ltd.		33,600		862,393
NTT DOCOMO, Inc.		22,600		541,731
Olympus Corp.		9,200		317,368
ORIX Corp.		40,500		612,289
Pacific Industrial Co. Ltd.		26,500		328,111
Panasonic Corp.		20,700		216,057
PC Depot Corp.^#		47,900		265,993
Pilot Corp.		3,200		129,944
Sac’s Bar Holdings, Inc.		49,500		537,920
Sanki Engineering Co. Ltd.		31,000		264,671


Description	Number of Shares		Value
Santen Pharmaceutical Co. Ltd.		35,500	$	445,204
Seikagaku Corp.		34,200		503,413
Sekisui Chemical Co. Ltd.		42,700		697,359
Sekisui Jushi Corp.		8,600		137,177
Senshu Electric Co. Ltd.		18,900		308,834
Seven & i Holdings Co. Ltd.		21,100		842,617
SFP Dining Co. Ltd.^#		17,400		230,079
Showa Corp.		56,600		389,498
Sinko Industries Ltd.		69,900		874,137
SMC Corp.		2,800		766,522
SoftBank Group Corp		10,300		793,732
Sony Corp.		31,700		961,023
St Marc Holdings Co. Ltd.		10,600		319,662
Stanley Electric Co. Ltd.		34,700		978,828
Sumitomo Chemical Co. Ltd.		88,000		469,967
Sumitomo Electric Industries Ltd.		42,200		615,751
Sumitomo Metal Mining Co. Ltd.		64,000		868,373
Sumitomo Mitsui Financial Group, Inc.		31,800		1,253,581
Sumitomo Warehouse Co Ltd. (The)		72,000		387,707
Suzuki Motor Corp.		2,200		85,128
T&D Holdings, Inc.		57,100		851,367
Taihei Dengyo Kaisha Ltd.		24,000		229,988
Teikoku Electric Manufacturing Co. Ltd.		108,800		984,798
Terumo Corp.		7,400		273,297
Tokio Marine Holdings, Inc.		13,000		544,708
Tokyo Century Corp.		12,100		412,049
Tokyo Gas Co. Ltd.		91,000		402,815
Tokyo Ohka Kogyo Co. Ltd.		19,400		694,146
Tokyo Tekko Co. Ltd.		82,000		348,596
Tokyu Fudosan Holdings Corp.		56,600		331,349
Toray Industries, Inc.		63,000		545,468
Toyota Motor Corp.		32,700		1,906,800
Tsurumi Manufacturing Co. Ltd.		34,000		469,755
West Japan Railway Co.		4,500		293,331
Yamada Denki Co. Ltd.^#		68,100		375,150
Yokogawa Bridge Holdings Corp.		27,500		349,991
Yondoshi Holdings, Inc.		28,500		626,490

TOTAL JAPAN			$	74,919,620
LITHUANIA – 0.0%**
Invalda Privatus Kapitalas AB*^,††		7,855		—
LUXEMBOURG – 0.6%
SES SA		138,620		2,695,036
MALAYSIA – 0.0%**
RHB Bank Bhd		18,000		—
NETHERLANDS – 4.0%
ASML Holding NV		16,174		1,962,495


Description	Number of Shares		Value
IMCD Group NV		31,229	$	1,401,403
Koninklijke Ahold Delhaize NV		138,130		2,936,763
Koninklijke DSM NV		45,704		2,910,926
Koninklijke Philips NV		99,299		2,908,704
Wessanen		98,617		1,398,321
Wolters Kluwer NV		79,000		3,015,108

TOTAL NETHERLANDS			$	16,533,720
NORWAY – 0.3%
TGS Nopec Geophysical Co. ASA		51,167		1,225,197
PHILIPPINES – 0.2%
Ayala Land, Inc.		1,415,700		1,011,316
PORTUGAL – 0.0%**
Banco Espirito Santo SA*^,††		15,937		—
SINGAPORE – 0.6%
Jardine Cycle & Carriage Ltd.		39,100		1,147,185
Singapore Telecommunications Ltd.		438,000		1,202,725

TOTAL SINGAPORE			$	2,349,910
SOUTH AFRICA – 0.7%
African Bank Investments Ltd.^#,*^,††		36,266		—
Steinhoff International Holdings NV		579,224		2,774,973

TOTAL SOUTH AFRICA			$	2,774,973
SOUTH KOREA – 3.2%
Hana Tour Service, Inc.		15,756		976,191
Mando Corp.*		7,126		1,533,001
NAVER Corp.		2,489		1,623,494
Samsung Electronics Co. Ltd.		4,637		7,872,645
Samsung Fire & Marine Insurance Co. Ltd.		4,692		1,086,092

TOTAL SOUTH KOREA			$	13,091,423
SPAIN – 1.0%
Amadeus IT Group SA		40,746		1,880,162
Bankinter SA		141,813		1,138,209
Industria de Diseno Textil SA		35,835		1,181,218

TOTAL SPAIN			$	4,199,589
SWEDEN – 3.1%
Assa Abloy AB		89,727		1,698,711
Atlas Copco AB Class A		61,571		1,973,037
Cloetta AB Class B		412,737		1,391,975
Elekta AB		105,625		954,563
Hexagon AB		64,995		2,570,940
Hoist Finance AB^#,W		121,367		1,168,978
JM AB		47,358		1,429,332
Sweco AB Class B		67,654		1,493,522

TOTAL SWEDEN			$	12,681,058
SWITZERLAND – 3.5%
Chocoladefabriken Lindt & Spruengli AG		189		1,046,658


Description	Number of Shares		Value
Cie Financiere Richemont SA		36,717	$	2,845,934
Clariant AG		80,004		1,494,896
Comet Holding AG^#		1,092		1,079,254
Huber + Suhner AG		19,150		1,192,097
Julius Baer Group Ltd.		23,473		1,096,854
Partners Group Holding AG		3,299		1,662,752
Roche Holding AG		8,200		1,930,777
Straumann Holding AG		3,139		1,262,515
u-blox Holding AG^#,*		6,322		1,138,477

TOTAL SWITZERLAND			$	14,750,214
TAIWAN – 4.2%
Delta Electronics, Inc.		268,000		1,487,654
Far EasTone Telecommunications Co. Ltd.		403,000		956,524
Hon Hai Precision Industry Co. Ltd.		1,003,000		2,678,208
Largan Precision Co. Ltd.		13,000		1,845,531
Merida Industry Co. Ltd.		311,000		1,612,247
Taiwan Semiconductor Manufacturing Co. Ltd.		1,525,000		9,024,676

TOTAL TAIWAN			$	17,604,840
THAILAND – 0.5%
Kasikornbank PCL		358,300		1,918,192
UNITED KINGDOM – 8.7%
Ashmore Group PLC		306,216		1,194,185
Booker Group PLC		512,219		1,313,233
British American Tobacco PLC		48,938		3,016,338
Compass Group PLC		100,858		1,791,542
Croda International PLC		29,393		1,237,974
Diageo PLC		41,641		1,154,293
Dignity PLC		44,097		1,356,344
HSBC Holdings PLC		216,000		1,858,253
Hunting PLC		182,963		1,278,584
NEX Group PLC		123,453		892,224
Prudential PLC		153,658		2,961,393
Reckitt Benckiser Group PLC		39,111		3,347,690
Rio Tinto Ltd.		35,900		1,815,461
Rolls-Royce Holdings PLC		1,151		9,665
Serco Group PLC*		757,332		1,371,926
SSP Group PLC		277,137		1,362,832
St James’s Place PLC		218,346		2,941,825
Tullow Oil PLC^#,*		340,477		1,260,550
Ultra Electronics Holdings PLC		56,139		1,304,408
Unilever NV		30,561		1,233,690
Victrex PLC		48,831		1,167,162
Weir Group PLC (The)		56,206		1,417,683
Whitbread PLC		20,278		1,001,260

TOTAL UNITED KINGDOM			$	36,288,515


Description	Number of Shares		Value
UNITED STATES – 0.7%
Cognizant Technology Solutions Corp.*		19,940	$	1,048,645
Shire PLC		35,818		1,973,367

TOTAL UNITED STATES			$	3,022,012

TOTAL COMMON STOCKS (COST $360,610,681)			$	376,387,960
INVESTMENT COMPANY – 3.9%
iShares Core MSCI EAFE ETF^#		292,200		16,199,568

TOTAL INVESTMENT COMPANY (COST $15,979,091)			$	16,199,568
PREFERRED STOCK – 0.0%**
PHILIPPINES – 0.0%**
Ayala Land Voting 1.23%^††		178,200		358

TOTAL PREFERRED STOCK (COST $418)			$	358
MONEY MARKET FUND – 4.2%
Dreyfus Government Cash Management
Fund, Institutional Shares, 0.47%^{^}		17,244,595		17,244,595

TOTAL MONEY MARKET FUND (COST $17,244,595)			$	17,244,595
RIGHT – 0.0%**
TUNISIA – 0.0%**
Societe D’Articles Hygieniques SA*		2,800		855

TOTAL RIGHT (COST $0)			$	855
WARRANTS – 0.4%
SWITZERLAND – 0.4%
Hangzhou Hikvision Digital Technology Co. Ltd.*		462,973		1,758,186

TOTAL RIGHT (COST $1,595,142)			$	1,758,186
REAL ESTATE INVESTMENT TRUST – 0.0%**
NIGERIA – 0.0%**
Afriland Properties PLC*^,††		24,606		—

TOTAL REAL ESTATE INVESTMENT TRUST (COST $606)			$	—

TOTAL INVESTMENTS IN SECURITIES – 99.3% (COST $395,430,533)			$	411,591,522


Description	Par Value		Value
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 4.0%
REPURCHASE AGREEMENTS – 4.0%
Citigroup Global Markets, Inc., 0.56%, dated 1/31/17, due 2/01/17, repurchase price $3,173,570, collateralized by U.S. Government & Treasury Securities 0.88% to 11.50%, maturing 2/01/17 to 6/01/52; total market value of $3,236,992.	$	3,173,521	$	3,173,521
Daiwa Capital Markets America, 0.58%, dated 1/31/17, due 2/01/17, repurchase price $3,173,572, collateralized by U.S. Government & Treasury Securities 0.00% to 8.88%, maturing 2/16/17 to 9/09/49; total market value of $3,236,992.		3,173,521		3,173,521
Merrill Lynch, Pierce, Fenner & Smith, Inc., 0.54%, dated 1/31/17, due 2/01/17, repurchase price $834,987, collateralized by U.S. Treasury Securities 0.00% to 1.25%, maturing 11/15/24 to 9/09/49; total market value of $851,674.		834,974		834,974
Nomura Securities International, Inc., 0.55%, dated 1/31/17, due 2/01/17, repurchase price $3,173,570, collateralized by U.S. Government Securities 0.00% to 7.13%, maturing 2/10/17 to 12/20/66; total market value of $3,236,991.		3,173,521		3,173,521
RBC Dominion Securities, Inc., 0.56%, dated 1/31/17, due 2/01/17, repurchase price $3,173,570, collateralized by U.S. Government Securities 3.00% to 7.00%,maturing 3/01/37 to 1/01/47; total market value of $3,236,991.		3,173,521		3,173,521
TD Securities (USA) LLC, 0.56%, dated 1/31/17, due 2/01/17, repurchase price $3,173,570, collateralized by U.S. Government Securities 2.50% to 4.50%,maturing 9/01/27 to 8/01/46; total market value of $3,236,991.		3,173,521		3,173,521
TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $16,702,579)			$	16,702,579

TOTAL INVESTMENTS – 103.3% (COST $412,133,112)			$	428,294,101
COLLATERAL FOR SECURITIES ON LOAN – (4.0%)				(16,702,579	)
OTHER ASSETS LESS LIABILITIES – 0.7%				3,160,100

TOTAL NET ASSETS – 100.0%			$	414,751,622

Cost of investments for Federal income tax purposes is $418,086,627. The net unrealized appreciation/(depreciation) of investments was $10,207,474. This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $21,920,810 and net unrealized depreciation from investments for those securities having an excess of cost over value of $11,713,336.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2017 in valuing the Fund’s assets carried at fair value:

The Fund’s policy is to disclose transfers between levels based on valuations at the beginning of the period. An Australian Security, Arrium Ltd., was transferred from Level 1 to Level 2 at a valuation of $8,913. Additionally, a Bulgarian Security, Petrol AD, was transferred from Level 1 to Level 2 at a valuation of $2,020. They were both transferred due to the application of fair value procedures. The value of these securities at January 1, 2017 was $— and $2,078, respectively.

At January 31, 2017, the Wilmington Multi-Manager International Fund had the following outstanding forward foreign currency contracts, which contractually obligates the Fund to deliver or receive currencies at specified future dates. The open contracts were as follows:

At January 31, 2017, the Wilmington Multi-Manager International Fund had open financial futures contracts as follows:


Description	Number of Shares		Value
COMMON STOCKS – 90.5%
AEROSPACE & DEFENSE – 0.8%
General Dynamics Corp.		600	$	108,648
Lockheed Martin Corp.		830		208,604
Northrop Grumman Corp.		420		96,214
Rockwell Collins, Inc.		590		53,548
Thales SA		240		22,483
United Technologies Corp.		2,675		293,367

TOTAL AEROSPACE & DEFENSE			$	782,864
AIR FREIGHT & LOGISTICS – 0.7%
Deutsche Post AG		7,469		249,585
PostNL NV*		21,689		94,918
Royal Mail PLC		3,860		19,987
United Parcel Service, Inc., Class B		3,327		363,076

TOTAL AIR FREIGHT & LOGISTICS			$	727,566
AIRLINES – 0.4%
Air France-KLM*		14,455		76,414
American Airlines Group, Inc.		4,010		177,443
Deutsche Lufthansa AG		7,296		97,151
SAS AB*		6,715		10,863

TOTAL AIRLINES			$	361,871
AUTO COMPONENTS – 0.6%
Aisan Industry Co. Ltd.		4,500		37,782
Cie Generale des Etablissements Michelin		390		41,840
Exedy Corp.		2,400		65,043
Keihin Corp.		4,100		72,588
Nissin Kogyo Co. Ltd.		3,800		62,901
NOK Corp.		3,700		75,108
Showa Corp.		6,500		44,730
Sumitomo Riko Co. Ltd.		4,200		43,410
Tokai Rika Co. Ltd.		4,400		87,758
Toyoda Gosei Co. Ltd.		3,200		77,116

TOTAL AUTO COMPONENTS			$	608,276
AUTOMOBILES – 0.6%
Harley-Davidson, Inc.		5,380		306,875
Honda Motor Co. Ltd.		5,100		152,986
Mitsubishi Motors Corp.		16,500		89,580
Renault SA		522		46,985

TOTAL AUTOMOBILES			$	596,426


Description	Number of Shares		Value
BANKS – 0.1%
Itau Unibanco Holding SA ADR		12,451	$	147,046
BEVERAGES – 1.5%
Anheuser-Busch InBev SA/NV		1,866		193,680
Coca-Cola Co. (The)		6,040		251,083
Coca-Cola European Partners		800		27,592
Diageo PLC		9,248		256,356
Dr. Pepper Snapple Group, Inc.		700		63,840
Heineken Holding NV		370		25,954
Heineken NV		2,635		196,925
Monster Beverage Corp.*		6,117		260,584
PepsiCo, Inc.		1,840		190,955

TOTAL BEVERAGES			$	1,466,969
BUILDING PRODUCTS – 0.7%
Cie de St-Gobain		2,821		138,560
Lennox International, Inc.		3,430		537,858

TOTAL BUILDING PRODUCTS			$	676,418
CAPITAL MARKETS – 2.0%
Banca Generali SpA		10,246		260,920
BlackRock, Inc.		371		138,747
CI Financial Corp.		1,050		21,948
FactSet Research Systems, Inc.		1,940		335,717
GAM Holding AG		3,766		38,248
Ichiyoshi Securities Co. Ltd.		3,000		23,355
IGM Financial, Inc.		540		16,595
Intercontinental Exchange Group, Inc.		10,170		593,521
Julius Baer Group Ltd.		1,120		52,336
Moody’s Corp.		990		102,633
MSCI, Inc.		1,800		148,950
SEI Investments Co.		1,710		82,952
Ubs Group AG		9,531		153,817
Uranium Participation Corp.*		8,200		26,467

TOTAL CAPITAL MARKETS			$	1,996,206
CHEMICALS – 1.5%
Agrium, Inc.		2,987		307,474
Akzo Nobel NV		600		40,669
BASF SE		950		91,395
Dow Chemical Co. (The)		3,020		180,083
Johnson Matthey PLC		680		27,810
JSR Corp.		6,400		109,964
Mitsui Chemicals, Inc.		4,000		18,847


Description	Number of Shares		Value
Platform Specialty Products Corp.*		23,544	$	285,824
Praxair, Inc.		1,605		190,096
Sherwin-Williams Co.		830		252,162

TOTAL CHEMICALS			$	1,504,324
COMMERCIAL BANKS – 2.0%
First Citizens BancShares, Inc., Class A		400		146,696
First Republic Bank		3,707		349,681
Huntington Bancshares, Inc.		38,952		527,021
Oita Bank Ltd. (The)		6,000		22,531
PNC Financial Services Group, Inc. (The)		7,209		868,396
Tochigi Bank Ltd. (The)		4,300		21,898
Toronto-Dominion Bank (The)		1,870		96,874

TOTAL COMMERCIAL BANKS			$	2,033,097
COMMERCIAL SERVICES & SUPPLIES – 2.2%
Babcock International Group PLC		1,390		15,615
Cintas Corp.		7,059		819,620
Clean Harbors, Inc.*		9,040		501,720
ISS A/S		680		24,156
Relia, Inc.		3,100		32,288
Securitas AB		1,380		21,961
UniFirst Corp.		1,550		198,245
Waste Connections, Inc.		6,130		492,239
Waste Management, Inc.		1,628		113,146

TOTAL COMMERCIAL SERVICES & SUPPLIES			$	2,218,990
COMMUNICATIONS EQUIPMENT – 1.2%
Cisco Systems, Inc.		8,829		271,227
Motorola Solutions, Inc.		8,989		725,502
Nokia OYJ		35,151		157,475
Telefonaktiebolaget LM Ericsson, Class B		16,367		96,644

TOTAL COMMUNICATIONS EQUIPMENT			$	1,250,848
COMPUTERS & PERIPHERALS – 0.2%
Melco Holdings, Inc.		1,000		28,740
Western Digital Corp.		2,002		159,619

TOTAL COMPUTERS & PERIPHERALS			$	188,359
CONSTRUCTION & ENGINEERING – 0.2%
Chiyoda Corp.		6,300		42,461
Raubex Group Ltd.		16,316		27,740
Skanska AB		1,170		28,624
Toyo Engineering Corp.		18,000		47,985
Vinci SA		830		58,150

TOTAL CONSTRUCTION & ENGINEERING			$	204,960
CONSTRUCTION MATERIALS – 0.4%
Buzzi Unicem SpA		9,616		236,676
Imerys SA		210		16,846
LafargeHolcim Ltd.		2,302		123,062


Description	Number of Shares		Value
Vicat SA		766	$	46,521

TOTAL CONSTRUCTION MATERIALS			$	423,105
CONSUMER FINANCE – 0.3%
Capital One Financial Corp.		3,492		305,166
CONTAINERS & PACKAGING – 3.4%
AMVIG Holdings Ltd.		64,000		22,024
Ball Corp.		9,060		690,916
Graphic Packaging Holding Co.		41,481		518,927
International Paper Co.		14,034		794,324
Packaging Corp. of America		1,122		103,426
RPC Group PLC		38,000		511,982
Silgan Holdings, Inc.		3,460		202,445
WestRock Co.		11,250		600,300

TOTAL CONTAINERS & PACKAGING			$	3,444,344
DIVERSIFIED CONSUMER SERVICES – 0.6%
Benesse Holdings, Inc.		2,000		58,188
New Oriental Education & Technology Group
Inc. ADR*		4,763		226,481
Service Corp. International		10,020		291,883

TOTAL DIVERSIFIED CONSUMER SERVICES			$	576,552
DIVERSIFIED FINANCIAL SERVICES – 6.1%
Ackermans & van Haaren NV		1,100		149,738
Alpha Bank AE*		13,603		24,083
AMP Ltd.		8,570		32,497
Australia & New Zealand Banking Group Ltd.		3,500		77,747
Banco Popular Espanol SA		49,798		51,392
Bank Hapoalim BM		4,020		24,262
Bank Leumi Le-Israel BM*		5,750		23,750
Bank of America Corp.		15,601		353,207
Bank of Montreal		910		68,835
Bank of Nova Scotia (The)		2,349		140,423
Bank of Nova Scotia (The)		1,400		83,661
Berkshire Hathaway, Inc., Class B*		4,160		682,822
BNP Paribas SA		2,444		156,135
BOC Hong Kong Holdings Ltd.		9,500		38,201
BPER Banca		12,649		71,550
CaixaBank		25,266		92,216
Canadian Imperial Bank of Commerce		660		56,203
Cerved Information Solutions SpA		23,466		191,381
Citigroup, Inc.		4,654		259,833
Commonwealth Bank of Australia		1,620		100,328
Dah Sing Financial Holdings Ltd.		4,400		34,082
DBS Group Holdings Ltd.		3,600		48,456
G-Resources Group Ltd.		1,062,000		18,889
Hang Seng Bank Ltd.		1,900		38,911
HDFC Bank Ltd. ADR		3,641		250,974


Description	Number of Shares		Value
HSBC Holdings PLC		31,600	$	268,889
ING Groep NV		22,935		328,050
JPMorgan Chase & Co.		3,437		290,873
KB Financial Group, Inc. ADR*		2,364		95,978
Mitsubishi UFJ Financial Group, Inc.		28,100		181,900
Mizrahi Tefahot Bank Ltd.		930		14,302
Mizuho Financial Group, Inc.		59,100		110,076
National Australia Bank Ltd.		3,310		76,137
National Bank of Canada		880		37,986
Nordea Bank AB		20,809		251,456
Oversea-Chinese Banking Corp. Ltd.		6,720		44,773
Royal Bank of Canada		1,410		101,379
Sberbank of Russia PJSC ADR		21,200		247,192
Shinhan Financial Group Co. Ltd. ADR*		1,235		48,832
Societe Generale SA		2,689		131,366
Standard Chartered PLC*		11,620		113,158
Sumitomo Mitsui Financial Group, Inc.		4,000		157,683
Sumitomo Mitsui Trust Holdings, Inc.		1,300		48,726
U.S. Bancorp		2,890		152,159
UniCredit SpA		1,847		50,165
United Overseas Bank Ltd.		2,890		42,898
Wells Fargo & Co.		3,771		212,420
Westpac Banking Corp.		3,600		86,576

TOTAL DIVERSIFIED FINANCIAL SERVICES			$	6,162,550
DIVERSIFIED TELECOMMUNICATION SERVICES – 2.3%
AT&T, Inc.		5,960		251,274
BCE, Inc.		560		25,245
Bezeq The Israeli Telecommunication Corp. Ltd.		10,460		18,259
Deutsche Telekom AG		4,210		73,443
Hellenic Telecommunications Organization SA		7,916		72,037
HKT Trust & HKT Ltd.		14,000		19,596
KT Corp. ADR*		6,799		101,101
Magyar Telekom Telecommunications PLC ADR		6,900		60,841
Nippon Telegraph & Telephone Corp.		20,430		900,903
Orange SA		3,420		52,887
Proximus SADP		700		20,074
Rostelecom PJSC ADR		1,250		10,600
Singapore Telecommunications Ltd.		16,700		45,857
Spark New Zealand Ltd.		8,210		21,143
Swisscom AG		70		30,772
Telefonica SA		7,354		70,853
Telenor ASA		8,292		131,296
Telia Co. AB		7,700		31,224
Telstra Corp. Ltd.		10,220		38,754


Description	Number of Shares		Value
TELUS Corp.		740	$	24,704
Verizon Communications, Inc.		7,135		349,686

TOTAL DIVERSIFIED TELECOMMUNICATION SERVICES			$	2,350,549
ELECTRIC UTILITIES – 2.7%
Alliant Energy Corp.		1,190		44,803
American Electric Power Co., Inc.		1,350		86,481
Avangrid, Inc.		13,060		506,728
CLP Holdings Ltd.		4,000		39,103
Duke Energy Corp.		1,450		113,883
Edison International		3,242		236,277
Emera, Inc.		370		12,921
Endesa SA		1,190		24,465
Entergy Corp.		770		55,163
Eversource Energy		1,160		64,171
Fortis, Inc.		1,090		35,048
Iberdrola SA		8,980		56,555
NextEra Energy, Inc.		950		117,534
OGE Energy Corp.		1,190		39,913
PG&E Corp.		1,380		85,408
Pinnacle West Capital Corp.		580		45,025
Power Assets Holdings Ltd.		89,970		864,461
PPL Corp.		2,150		74,906
Red Electrica Corp. SA		1,480		26,409
Southern Co. (The)		2,150		106,275
SSE PLC		2,210		41,397
Xcel Energy, Inc.		1,700		70,244

TOTAL ELECTRIC UTILITIES			$	2,747,170
ELECTRICAL EQUIPMENT – 0.8%
AMETEK, Inc.		5,545		283,350
Eaton Corp. PLC		5,345		378,319
Ushio, Inc.		3,500		44,482
Zumtobel Group AG		3,083		51,719

TOTAL ELECTRICAL EQUIPMENT			$	757,870
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 0.2%
Citizen Watch Co. Ltd.		8,500		52,998
Hosiden Corp.		6,400		49,540
Nichicon Corp.		6,100		57,483
Nippon Chemi-Con Corp.		16,000		36,985
Taiyo Yuden Co. Ltd.		3,300		40,362

TOTAL ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS			$	237,368
ENERGY EQUIPMENT & SERVICES – 0.4%
Baker Hughes, Inc.		5,726		361,196
Saipem SpA*		94,614		48,259

TOTAL ENERGY EQUIPMENT & SERVICES			$	409,455


Description	Number of Shares		Value
FOOD & STAPLES RETAILING – 1.5%
Alimentation Couche Tard, Inc.		910	$	41,687
Booker Group PLC		150,215		385,123
Cawachi Ltd.		1,400		36,032
Costco Wholesale Corp.		1,490		244,286
George Weston Ltd.		240		20,469
ICA Gruppen AB		490		16,005
J Sainsbury PLC		32,363		104,998
Koninklijke Ahold Delhaize NV		2,400		51,026
Loblaw Cos. Ltd.		630		33,111
Metro AG		2,261		77,152
Metro, Inc.		830		25,214
SPAR Group Ltd. (The)		1,130		15,975
Walgreens Boots Alliance, Inc.		2,345		192,149
Walmart de Mexico SAB de CV		28,700		50,784
Wal-Mart Stores, Inc.		2,300		153,502
Wesfarmers Ltd.		1,850		56,486

TOTAL FOOD & STAPLES RETAILING			$	1,503,999
FOOD PRODUCTS – 1.4%
Ebro Foods SA		6,360		131,134
General Mills, Inc.		1,510		94,345
Hershey Co. (The)		2,400		253,128
Ingredion, Inc.		1,280		164,083
JM Smucker Co. (The)		460		62,491
Kellogg Co.		930		67,620
Marine Harvest ASA		1,430		25,278
Nestle SA		3,195		233,438
Pinnacle Foods, Inc.		2,990		159,038
Tate & Lyle PLC		2,270		19,147
Tiger Brands Ltd.		730		21,974
Viscofan SA		3,680		186,771
Wilmar International Ltd.		8,290		22,823

TOTAL FOOD PRODUCTS			$	1,441,270
GAS UTILITIES – 0.4%
Enagas SA		910		22,299
ENN Energy Holdings Ltd.		40,200		198,956
UGI Corp.		4,720		218,866

TOTAL GAS UTILITIES			$	440,121
HEALTH CARE EQUIPMENT & SUPPLIES – 1.6%
Align Technology, Inc.*		2,425		222,348
Baxter International, Inc.		2,884		138,172
Becton Dickinson & Co.		540		95,737
Medtronic PLC		5,300		402,906
Smith & Nephew PLC		2,360		35,122


Description	Number of Shares		Value
Steris PLC		7,982	$	565,365
Zimmer Biomet Holdings, Inc.		1,310		155,012

TOTAL HEALTH CARE EQUIPMENT & SUPPLIES			$	1,614,662
HEALTH CARE PROVIDERS & SERVICES – 3.0%
Acadia Healthcare Co., Inc.*		2,571		98,649
AmerisourceBergen Corp.		4,650		405,852
Cardinal Health, Inc.		3,310		248,118
HCA Holdings, Inc.*		6,870		551,524
Laboratory Corp. of America Holdings*		2,940		394,577
McKesson Corp.		3,261		453,768
Quest Diagnostics, Inc.		2,507		230,443
Suzuken Co. Ltd.		1,100		36,339
UnitedHealth Group, Inc.		1,375		222,888
Universal Health Services, Inc., Class B		3,120		351,406

TOTAL HEALTH CARE PROVIDERS & SERVICES			$	2,993,564
HEALTH CARE TECHNOLOGY – 0.0%**
AGFA-Gevaert NV*		10,237		40,369
HOTELS, RESTAURANTS & LEISURE – 1.7%
Choice Hotels International, Inc.		7,158		397,269
Compass Group PLC		10,015		177,897
Domino’s Pizza Group PLC		26,111		119,007
Hilton Worldwide Holdings, Inc.		5,799		333,906
Hyatt Hotels Corp., Class A*		3,848		210,524
McDonald’s Corp.		1,915		234,722
Panera Bread Co., Class A*		1,130		236,238

TOTAL HOTELS, RESTAURANTS & LEISURE			$	1,709,563
HOUSEHOLD DURABLES – 1.5%
Alpine Electronics, Inc.		5,300		77,357
Funai Electric Co. Ltd.		5,000		40,209
Husqvarna AB, Class B		2,280		19,080
Newell Brands, Inc.		6,450		305,279
Nikon Corp.		4,500		72,735
NVR, Inc.*		420		780,360
Persimmon PLC		8,137		197,460
Pioneer Corp.*		29,800		65,454

TOTAL HOUSEHOLD DURABLES			$	1,557,934
HOUSEHOLD PRODUCTS – 0.7%
Colgate-Palmolive Co.		3,570		230,551
Henkel AG & Co. KGaA		310		32,608
Kimberly-Clark Corp.		850		102,961
Procter & Gamble Co. (The)		1,325		116,070
Reckitt Benckiser Group PLC		2,230		190,876
Svenska Cellulosa AB		1,430		42,996

TOTAL HOUSEHOLD PRODUCTS			$	716,062


Description	Number of Shares		Value
INDUSTRIAL CONGLOMERATES – 1.1%
CK Hutchison Holdings Ltd.		4,500	$	54,199
General Electric Co.		8,270		245,619
Honeywell International, Inc.		2,220		262,670
Koninklijke Philips NV		3,854		112,893
Rheinmetall AG		1,157		88,478
Siemens AG		2,594		325,528
Smiths Group PLC		1,410		26,625

TOTAL INDUSTRIAL CONGLOMERATES			$	1,116,012
INSURANCE – 8.0%
Admiral Group PLC		950		21,225
Aflac, Inc.		1,180		82,588
Ageas		2,616		111,773
Alleghany Corp.*		330		201,818
Allstate Corp. (The)		1,090		81,979
American International Group, Inc.		4,886		313,974
Aon PLC		750		84,525
Arch Capital Group Ltd.*		580		51,243
Arthur J Gallagher & Co.		900		48,447
Assicurazioni Generali SpA		23,191		369,013
Axis Capital Holdings Ltd.		570		36,486
Baloise Holding AG		190		24,385
Chubb Ltd.		2,820		370,802
CNO Financial Group, Inc.		12,790		241,859
Coface SA*		6,819		44,020
Dai-ichi Life Holdings, Inc.		5,400		98,617
Delta Lloyd NV		5,866		33,707
Direct Line Insurance Group		5,470		24,429
Everest Re Group Ltd.		210		46,185
Fairfax Financial Holdings Ltd.		1,504		702,734
FNF Group		8,170		288,891
Gjensidige Forsikring ASA		1,080		18,580
Great-West Lifeco, Inc.		1,010		27,678
Hannover Rueck SE		230		25,238
Industrial Alliance Insurance & Financial
Services, Inc.		480		20,196
Insurance Australia Group Ltd.		7,140		31,244
Intact Financial Corp.		4,889		356,967
Markel Corp.*		951		879,675
Marsh & McLennan Cos., Inc.		3,832		260,653
MetLife, Inc.		8,707		473,748
Muenchener Rueckversicherungs AG		280		52,533
Power Corp. of Canada		1,230		28,858
Power Financial Corp.		950		24,684
Progressive Corp.		1,970		73,757
Reinsurance Group of America, Inc.		350		43,915


Description	Number of Shares		Value
RenaissanceRe Holdings Ltd.		270	$	36,806
RSA Insurance Group PLC		3,670		26,478
Storebrand ASA*		10,071		61,356
Sun Life Financial, Inc.		1,200		47,364
Suncorp Group Ltd.		3,480		34,389
Swiss Life Holding AG		100		30,226
Swiss Re AG		570		53,051
T&D Holdings, Inc.		9,800		146,119
Torchmark Corp.		5,849		430,135
Travelers Cos., Inc. (The)		760		89,513
White Mountains Insurance Group Ltd.		290		263,830
Willis Towers Watson PLC		4,746		593,867
XL Group Ltd.		4,050		152,159
Zurich Financial Services AG		1,778		509,386

TOTAL INSURANCE			$	8,071,105
INTERNET & CATALOG RETAIL – 0.9%
Amazon.com, Inc.*		394		324,451
Netflix, Inc.*		2,235		314,487
priceline.com, Inc.*		165		259,896
Qliro Group AB*		13,443		16,752

TOTAL INTERNET & CATALOG RETAIL			$	915,586
INTERNET SOFTWARE & SERVICES – 1.3%
Alibaba Group Holding-Sp ADR*		3,746		379,507
DeNA Co. Ltd.		1,600		35,837
Facebook, Inc., Class A*		2,464		321,108
Gree, Inc.		10,800		58,156
Just Eat PLC*		28,003		190,054
Mimecast Ltd.*		5,619		119,460
Tencent Holdings Ltd.		7,300		192,311

TOTAL INTERNET SOFTWARE & SERVICES			$	1,296,433
IT SERVICES – 2.7%
Accenture PLC, Class A		3,955		450,356
Amdocs Ltd.		3,590		210,769
Automatic Data Processing, Inc.		6,490		655,425
Booz Allen Hamilton Holding Corp.		7,170		242,489
CGI Group, Inc., Class A*		640		30,774
Compal Electronics, Inc. GDR		23,500		70,660
Computer Sciences Corp.		3,681		228,958
Fidelity National Information Services, Inc.		5,355		425,294
Fujitsu Ltd.		21,000		122,492
NET One Systems Co. Ltd.		7,400		50,531
Sopra Steria Group		496		57,479
Visa, Inc., Class A		2,137		176,751

TOTAL IT SERVICES			$	2,721,978
LEISURE EQUIPMENT & PRODUCTS – 0.0%**
Sankyo Co. Ltd.		730		24,407


Description	Number of Shares		Value
LIFE SCIENCES TOOLS & SERVICES – 0.0%**
CMIC Holdings Co. Ltd.		1,800	$	23,913
MACHINERY – 2.3%
Allison Transmission Holdings, Inc.		8,660		302,927
Alstom SA*		2,967		84,076
Atlas Copco AB		3,145		100,781
Caterpillar, Inc.		1,861		178,023
Deere & Co.		3,510		375,746
Hisaka Works Ltd.		2,500		20,747
IDEX Corp.		5,067		456,841
Japan Steel Works Ltd. (The)		3,500		65,840
Middleby Corp.*		2,128		285,535
PACCAR, Inc.		5,490		369,532
Sumitomo Heavy Industries Ltd.		4,400		30,318
Toshiba Machine Co. Ltd.		14,000		61,004

TOTAL MACHINERY			$	2,331,370
MARINE – 0.2%
D/S Norden A/S*		2,812		50,007
Kuehne + Nagel International AG		710		96,719
Pacific Basin Shipping Ltd.*		286,000		53,448

TOTAL MARINE			$	200,174
MEDIA – 1.7%
Avex Group Holdings, Inc.		2,000		30,095
Comcast Corp., Class A		2,810		211,930
DISH Network Corp.*		5,110		302,359
Gendai Agency, Inc.		1,200		6,568
Lagardere SCA		640		16,035
Metropole Television SA		1,909		37,496
Omnicom Group, Inc.		820		70,233
Proto Corp.		800		9,898
RTL Group		220		16,760
SES SA		20,647		401,417
Sky PLC		20,930		263,564
Television Francaise 1		6,777		74,548
Walt Disney Co. (The)		1,840		203,596
WPP PLC		2,290		53,122

TOTAL MEDIA			$	1,697,621
METALS & MINING – 1.5%
Anglo American Platinum Ltd.*		1,926		50,208
Anglo American PLC*		4,984		85,145
Barrick Gold Corp.		3,200		58,971
Catcher Technology Co. Ltd. GDR		5,474		222,655
Centerra Gold, Inc.		8,300		41,014
Chubu Steel Plate Co. Ltd.		2,400		13,604
Eldorado Gold Corp.*		18,159		64,101


Description	Number of Shares		Value
Glencore Xstrata PLC*		56,759	$	233,095
Gold Fields Ltd.		12,179		41,729
Impala Platinum Holdings Ltd.*		11,557		45,833
Ivanhoe Mines Ltd., Class A*		14,900		45,459
Kinross Gold Corp.*		10,790		42,081
Kyoei Steel Ltd.		3,100		62,489
Lonmin PLC*		3,873		6,200
Nakayama Steel Works Ltd.*		1,800		12,164
Neturen Co. Ltd.		3,200		25,507
Northern Dynasty Minerals Ltd.*		2,500		7,243
Pacific Metals Co. Ltd.*		12,000		37,942
Resolute Mining Ltd.		26,569		29,318
Salzgitter AG		1,679		64,217
Tokyo Steel Manufacturing Co. Ltd.		7,200		64,979
Vale SA ADR		20,288		206,532
Western Areas Ltd.*		17,621		32,741
Yamato Kogyo Co. Ltd.		1,800		53,884

TOTAL METALS & MINING			$	1,547,111
MULTILINE RETAIL – 0.2%
Canadian Tire Corp. Ltd., Class A		250		26,588
Dollar General Corp.		1,760		129,923
Harvey Norman Holdings Ltd.		3,810		14,447
Marks & Spencer Group PLC		15,060		63,562
New World Department Store China Ltd.*		93,000		13,425

TOTAL MULTILINE RETAIL			$	247,945
MULTI-UTILITIES – 1.6%
Ameren Corp.		1,040		54,756
Atco Ltd., Class I		450		15,846
Canadian Utilities Ltd.		640		18,218
Centrica PLC		60,457		170,592
Consolidated Edison, Inc.		980		72,863
DTE Energy Co.		650		64,116
E.ON AG		29,816		228,621
Engie SA		5,967		71,274
National Grid PLC		36,122		421,562
NiSource, Inc.		1,840		41,161
Public Service Enterprise Group, Inc.		1,640		72,570
RWE AG*		2,992		39,582
SCANA Corp.		670		46,029
Sempra Energy		2,590		265,190
WEC Energy Group, Inc.		1,120		66,136

TOTAL MULTI-UTILITIES			$	1,648,516
OFFICE ELECTRONICS – 0.1%
Canon, Inc.		3,300		97,764
OIL, GAS & CONSUMABLE FUELS – 4.1%
BP PLC		38,655		229,938


Description	Number of Shares		Value
Canadian Natural Resources Ltd.		3,472	$	104,959
Chevron Corp.		2,876		320,243
Eni SpA		11,243		172,465
EOG Resources, Inc.		2,889		293,465
Gazprom PJSC ADR		18,276		90,192
Imperial Oil Ltd.		5,660		186,079
Inpex Corp.		4,800		47,209
Japan Petroleum Exploration Co. Ltd.		2,900		65,186
KazMunaiGas Exploration Production JSC
GDR*		705		6,864
LUKOIL PJSC ADR		1,900		106,790
Marathon Oil Corp.		10,156		170,113
Painted Pony Petroleum Ltd.*		3,400		20,433
Petro Rio SA*		100		831
Petroleo Brasileiro SA ADR*		17,149		175,949
Pioneer Natural Resources Co.		1,418		255,566
Royal Dutch Shell PLC, Class B		16,680		469,296
Statoil ASA		2,552		47,463
Suncor Energy, Inc.		4,485		139,214
Surgutneftegas OJSC ADR		15,100		80,861
Total SA		11,140		561,119
TransCanada Corp.		5,582		263,582
Valero Energy Corp.		2,176		143,094
World Fuel Services Corp.		5,140		228,627

TOTAL OIL, GAS & CONSUMABLE FUELS			$	4,179,538
PERSONAL PRODUCTS – 0.5%
Unilever NV ADR		11,262		456,401
PHARMACEUTICALS – 4.5%
Almirall SA		2,956		47,546
AstraZeneca PLC ADR		17,273		683,729
Bristol-Myers Squibb Co.		9,397		461,957
Eisai Co.Ltd.		5,100		280,724
GlaxoSmithKline PLC		4,880		93,805
H Lundbeck A/S*		280		11,999
Johnson & Johnson		4,550		515,288
Merck & Co., Inc.		15,118		937,165
Merck KGaA		330		36,211
Novartis AG		4,075		298,352
Ono Pharmaceutical Co. Ltd.		13,390		273,528
Roche Holding AG		2,638		621,145
Takeda Pharmaceutical Co. Ltd.		3,200		133,884
Zoetis, Inc.		3,425		188,170

TOTAL PHARMACEUTICALS			$	4,583,503
PROFESSIONAL SERVICES – 0.4%
Adecco Group AG		999		71,072
En-Japan, Inc.		800		14,461
Experian PLC		10,845		208,602


Description	Number of Shares		Value
Hays PLC		35,436	$	67,938
RELX NV		2,370		39,975
SThree PLC		3,213		12,904
Wolters Kluwer NV		880		33,586

TOTAL PROFESSIONAL SERVICES			$	448,538
REAL ESTATE INVESTMENT TRUSTS – 2.3%
American Tower Corp.		6,865		710,528
Ascendas Real Estate Investment Trust		11,420		19,933
CapitaLand Mall Trust		12,940		17,812
Dexus Property Group		3,700		25,199
Equinix, Inc.		592		227,908
Fonciere Des Regions		190		15,803
Goodman Group		5,780		30,334
GPT Group (The)		6,900		24,490
Growthpoint Properties Ltd.		10,070		19,654
H&R Real Estate Investment Trust		880		15,257
ICADE		2,345		165,860
Klepierre		740		28,079
Mirvac Group		15,240		23,463
Park Hotels & Resorts, Inc.		7,003		190,061
Public Storage		605		130,075
Stockland		8,370		27,613
Store Capital Corp.		5,980		141,487
Vicinity Centres		12,230		26,527
Weyerhaeuser Co.		14,578		456,729

TOTAL REAL ESTATE INVESTMENT TRUSTS			$	2,296,812
REAL ESTATE MANAGEMENT & DEVELOPMENT – 1.0%
CapitaLand Ltd.		10,470		24,441
Castellum AB		10,514		144,841
City Developments Ltd.		2,510		16,438
Daito Trust Construction Co. Ltd.		4,500		629,307
Henderson Land Development Co. Ltd.		4,000		22,194
Hongkong Land Holdings Ltd.		3,980		26,865
Hysan Development Co. Ltd.		4,000		18,302
LendLease Group		2,260		24,150
Sumitomo Real Estate Sales Co. Ltd.		2,000		45,558
Swire Pacific Ltd.		2,500		25,503
Swire Properties Ltd.		6,200		17,500
UOL Group Ltd.		3,190		14,418

TOTAL REAL ESTATE MANAGEMENT & DEVELOPMENT			$	1,009,517
ROAD & RAIL – 2.8%
AMERCO		808		304,349
Canadian National Railway Co.		14,338		996,525
ComfortDelGro Corp. Ltd.		10,860		18,571
DSV A/S		5,028		244,084
Genesee & Wyoming, Inc., Class A*		7,290		549,374


Description	Number of Shares		Value
JB Hunt Transport Services, Inc.		2,058	$	203,907
Kansas City Southern		1,200		103,092
Knight Transportation, Inc.		5,045		168,503
Localiza Rent a Car SA		16,500		192,956

TOTAL ROAD & RAIL			$	2,781,361
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT – 1.6%
Intel Corp.		9,702		357,228
Kontron AG*		6,248		19,654
Maxim Integrated Products, Inc.		4,454		198,114
Miraial Co. Ltd.		1,700		14,544
QUALCOMM, Inc.		6,109		326,404
Rohm Co. Ltd.		1,520		97,465
Shinkawa Ltd.*		1,500		11,412
Shinko Electric Industries Co. Ltd.		9,200		69,992
Skyworks Solutions, Inc.		2,630		241,276
STMicroelectronics NV		4,730		62,268
Taiwan Semiconductor Manufacturing Co.
Ltd. ADR		4,053		125,278
Tokyo Seimitsu Co. Ltd.		1,530		50,137

TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT			$	1,573,772
SOFTWARE – 1.9%
Alpha Systems, Inc.		500		8,697
Microsoft Corp.		9,361		605,189
Nice Ltd.		290		20,272
Nintendo Co. Ltd.		260		53,239
Open Text Corp.		880		30,121
Oracle Corp.		4,350		174,479
ServiceNow, Inc.*		1,817		164,657
SS&C Technologies Holdings, Inc.		14,704		472,440
Synopsys, Inc.*		770		48,425
Workday, Inc., Class A*		4,399		365,513

TOTAL SOFTWARE			$	1,943,032
SPECIALTY RETAIL – 1.8%
Advance Auto Parts, Inc.		4,140		679,954
AutoZone, Inc.*		390		282,742
CarMax, Inc.*		2,060		137,423
Halfords Group PLC		10,130		46,132
Home Depot, Inc. (The)		1,470		202,243
Honeys Co. Ltd.		1,900		18,191
Kingfisher PLC		6,930		29,310
Lowe’s Cos., Inc.		1,430		104,504
PAL GROUP Holdings Co. Ltd.		1,300		33,171
TJX Cos., Inc. (The)		2,695		201,909
Xebio Holdings Co. Ltd.		2,600		38,870

TOTAL SPECIALTY RETAIL			$	1,774,449


Description	Number of Shares		Value
TEXTILES, APPAREL & LUXURY GOODS – 0.3%
Daphne International Holdings Ltd.*		146,000	$	13,172
Geox SpA		15,202		32,772
NIKE, Inc., Class B		4,730		250,217
Sanyo Shokai Ltd.		15,000		22,319

TOTAL TEXTILES, APPAREL & LUXURY GOODS			$	318,480
TOBACCO – 1.2%
British American Tobacco PLC		11,112		684,898
Imperial Brands PLC		1,450		67,009
Philip Morris International, Inc.		3,987		383,270
Swedish Match AB		760		24,728

TOTAL TOBACCO			$	1,159,905
TRADING COMPANIES & DISTRIBUTORS – 1.1%
Fastenal Co.		9,300		462,024
Kuroda Electric Co. Ltd.		2,000		41,272
MSC Industrial Direct Co., Inc., Class A		2,365		241,585
Rexel SA		16,502		286,894
SIG PLC		38,874		50,273

TOTAL TRADING COMPANIES & DISTRIBUTORS			$	1,082,048
TRANSPORTATION INFRASTRUCTURE – 0.3%
Abertis Infraestructuras SA		2,040		29,168
Hamburger Hafen und Logistik AG		1,545		31,430
Jiangsu Expressway Co. Ltd., Class H		220,000		275,890

TOTAL TRANSPORTATION INFRASTRUCTURE			$	336,488
WATER UTILITIES – 0.2%
Guangdong Investment Ltd.		198,000		246,259
WIRELESS TELECOMMUNICATION SERVICES – 1.2%
China Mobile Ltd.		7,000		79,257
KDDI Corp.		19,535		524,232
Millicom International Cellular SA		4,368		216,026
NTT DOCOMO, Inc.		11,600		278,057
Orange Belgium SA*		2,092		47,176
Rogers Communications, Inc.		940		40,778
StarHub Ltd.		5,070		10,684
Vodacom Group Ltd.		1,760		19,722

TOTAL WIRELESS TELECOMMUNICATION SERVICES			$	1,215,932

TOTAL COMMON STOCKS (COST $90,861,220)			$	91,541,863
INVESTMENT COMPANIES – 0.2%
EQUITY FUNDS – 0.2%
iShares Core MSCI EAFE ETF		301		16,687


Description	Number of Shares		Value
iShares MSCI South Korea Capped ETF		895	$	51,803
iShares MSCI Taiwan Capped ETF		3,666		115,552

TOTAL EQUITY FUNDS			$	184,042

TOTAL INVESTMENT COMPANIES (COST $178,036)			$	184,042
PREFERRED STOCKS – 0.1%
TELECOMMUNICATION SERVICES – 0.0%**
Telefonica Brasil SA 1.65%		2,800		41,470
UTILITIES – 0.1%
Cia Paranaense de Energia 1.51%		5,200		53,054

TOTAL PREFERRED STOCKS (COST $90,527)			$	94,524


Description	Number of Shares		Value
MONEY MARKET FUND – 5.7%
Dreyfus Government Cash Management Fund, Institutional Shares, 0.47%^{^}		5,756,305	$	5,756,305

TOTAL MONEY MARKET FUND (COST $5,756,305)			$	5,756,305

TOTAL INVESTMENTS IN SECURITIES – 96.5% (COST $96,886,088)			$	97,576,734
TOTAL INVESTMENTS – 96.5%			$	97,576,734
OTHER ASSETS LESS LIABILITIES – 3.5%				3,564,138

TOTAL NET ASSETS – 100.0%			$	101,140,872

Cost of investments for Federal income tax purposes is $99,555,999. The net unrealized appreciation/(depreciation) of investments was $(1,979,265). This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $1,621,941 and net unrealized depreciation from investments for those securities having an excess of cost over value of $3,601,206.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2017 in valuing the Fund’s assets carried at fair value:

At January 31, 2017, the Wilmington Multi-Manager Alternatives Fund had the following outstanding foreign exchange contracts, which contractually obligates the Fund to deliver or receive currencies at specified future dates. The open contracts were as follows:

At January 31, 2017, the Wilmington Multi-Manager Alternatives Fund had open financial futures contracts as follows:


Description	Par Value			Value
INFLATION-LINKED & FIXED INCOME SECURITIES – 60.8%
ASSET-BACKED SECURITIES – 1.2%
COLLATERALIZED LOAN OBLIGATION – 0.4%
CIFC Funding Ltd., Series 2012-1A, Class A1R2, 2.18%, 8/14/24^D,Ώ	$	866,677		$	867,326
Cordatus CLO I PLC, 2006-1X A2, 0.76%, 1/30/24^D		56,820	^GBP		71,111
Cordatus CLO II PLC, 2007-1X A1F, 0.00%, 7/25/24^D		21,119	^EUR		22,713
Symphony CLO VIII LP, Series 2012-8AR, Class AR, 2.11%, 1/09/23^D,Ώ		361,709			361,997
Venture VII CDO Ltd., Series 2006-7A, Class A1A, 1.26%, 1/20/22^D,Ώ		249,073			247,436

TOTAL COLLATERALIZED LOAN OBLIGATION				$	1,570,583
DIVERSIFIED FINANCIAL SERVICES – 0.2%
Ameriquest Mortgage Securities Trust, Series 2006-R1, Class M1, 1.16%, 3/25/36^D		300,000			288,408
Bear Stearns Asset Backed Securities Trust, Series 2005-TC1, Class M2, 1.75%, 5/25/35^D		545,623			507,462

TOTAL DIVERSIFIED FINANCIAL SERVICES				$	795,870
WHOLE LOAN – 0.6%
Citigroup Mortgage Loan Trust, Inc., Series 2006-WFH2, Class A3, 0.99%, 8/25/36^D		1,200,000			1,115,818
Credit-Based Asset Servicing and Securitization LLC, Series 2005-CB2, Class M2, 1.72%, 4/25/36^D		241,321			223,514
JP Morgan Mortgage Acquisition Trust 2006-NC1, Series 2006-NC1, Class A4, 0.93%, 4/25/36^D		614,173			613,332
Navient Student Loan Trust, Series 2016-7A, Class A, 1.92%, 3/25/66^D,Ώ		295,641			301,079
Nomura Home Equity Loan, Inc. Home Equity Loan Trust, Series 2006-WF1, Class M2, 1.06%, 3/25/36^D		200,000			180,512
Saxon Asset Securities Trust, Series 2005-1, Class M2, 1.48%, 5/25/35^D		208,458			169,548
US Residential Opportunity Fund, Series 2016-3III, Class A, 3.60%, 10/27/36^Ώ		197,836			197,516

TOTAL WHOLE LOAN				$	2,801,319

TOTAL ASSET-BACKED SECURITIES (COST $4,928,333)				$	5,167,772
CERTIFICATES OF DEPOSIT – 1.2%
CERTIFICATE OF DEPOSIT – 1.2%
Barclays Bank PLC, 1.75%, 11/06/17^D		400,000			400,590


Description	Par Value			Value
1.75%, 9/08/17^D	$	500,000		$	500,939
Mitsubishi UFJ Trust & Banking corp., 1.71%, 9/19/17^D		600,000			601,055
Natixis SA, 1.69%, 9/25/17^D		400,000			400,843
Norinchukin Bank, 1.73%, 10/12/17^D		900,000			902,408
Sumitomo Mitsui Banking Corp., 1.66%, 9/15/17^D		800,000			801,643
Sumitomo Mitsui Trust Bank Ltd., 1.72%, 10/06/17^D		300,000			300,627
1.72%, 9/18/17^D		1,100,000			1,102,498

TOTAL CERTIFICATE OF DEPOSIT				$	5,010,603

TOTAL CERTIFICATES OF DEPOSIT (COST $5,000,000)				$	5,010,603
CORPORATE BONDS – 2.3%
COMPUTERS – 0.1%
Hewlett Packard Enterprise Co., Sr. Unsecured, 2.45%, 10/05/17		250,000			251,700
ENERGY – 0.1%
Petrobras Global Finance BV, Company Guaranteed, 8.38%, 5/23/21		500,000			557,400
FINANCIALS – 2.1%
Ally Financial, Inc., Company Guaranteed, 5.50%, 2/15/17		569,000			569,874
Bank of America Corp., Sr. Unsecured, MTN, 4.06%, 10/21/25^D		11,000,000	^MXN		606,613
BRFkredit A/S, Covered Bonds,
2.00%, 10/01/17		900,000	^DKK		132,757
4.00%, 1/01/18		500,000	^DKK		75,516
2.50%, 10/01/47		192,958	^DKK		27,991
CIT Group, Inc., Sr. Unsecured, 4.25%, 8/15/17		594,000			601,425
Credit Suisse Group Funding Guernsey Ltd., Company Guaranteed, 3.80%, 9/15/22		250,000			252,612
Deutsche Bank AG, Sr. Unsecured, 4.25%, 10/14/21^Ώ		800,000			805,171
Eksportfinans ASA, Sr. Unsecured, 5.50%, 6/26/17		1,000,000			1,013,760
Ford Motor Credit Co. LLC, Sr. Unsecured, 6.63%, 8/15/17		900,000			924,444
Goldman Sachs Group, Inc. (The), Sr. Unsecured, 2.16%, 9/15/20^D		600,000			605,651
ING Bank NV, Covered Bonds, 2.63%, 12/05/22^Ώ		200,000			199,597
International Lease Finance Corp., Sr. Unsecured, 8.25%, 12/15/20		100,000			118,025


Description	Par Value			Value
Intesa Sanpaolo SpA, Sr. Unsecured, 6.50%, 2/24/21^Ώ	$	300,000		$	330,157
Nordea Kredit Realkreditaktieselskab, Covered Bonds,
1.00%, 10/01/17		700,000	^DKK		102,733
2.00%, 10/01/17		1,100,000	^DKK		162,231
2.00%, 10/01/17		300,000	^DKK		44,245
2.50%, 10/01/47		286,554	^DKK		41,578
Novo Banco SA, Sr. Unsecured, 5.00%, 4/23/19		150,000	^EUR		123,266
Nykredit Realkredit A/S, Covered Bonds,
1.00%, 7/01/17		500,000	^DKK		73,029
1.00%, 10/01/17		2,700,000	^DKK		396,156
2.00%, 10/01/17		1,100,000	^DKK		162,220
4.00%, 1/01/18		200,000	^DKK		30,175
2.50%, 10/01/47		1,328,170	^DKK		192,792
2.00%, 4/01/18		1,200,000	^DKK		179,145
Realkredit Danmark A/S, Covered Bonds,
2.00%, 4/01/17		1,200,000	^DKK		174,902
1.00%, 1/01/18		1,400,000	^DKK		206,200
1.00%, 4/01/18		1,100,000	^DKK		162,300
2.00%, 1/01/18		300,000	^DKK		44,507
1.00%, 4/01/17		500,000	^DKK		72,759
2.50%, 10/01/47		1,052,921	^DKK		152,777
Synchrony Financial, Sr. Unsecured, 2.29%, 11/09/17^D		100,000			100,624

TOTAL FINANCIALS				$	8,685,232
PHARMACEUTICALS – 0.0%**
Actavis Funding SCS, Company Guaranteed, 3.45%, 3/15/22		100,000			101,499

TOTAL CORPORATE BONDS (COST $9,946,570)				$	9,595,831
FOREIGN GOVERNMENT INFLATION-LINKED SECURITIES – 1.9%
GOVERNMENT – 1.9%
Denmark Inflation Linked Government Bond, 0.10%, 11/15/23		14,610,540	^DKK		2,287,189
Italy Buoni Poliennali Del Tesoro, Sr. Unsecured, 2.35%, 9/15/24^Ώ		1,070,000	^EUR		1,306,462
Mexican Udibonos, 4.50%, 11/22/35		1,840,887	^MXN		97,492
New Zealand Government Bond, Sr. Unsecured, 2.00%, 9/20/25		2,650,000	^NZD		2,045,309
United Kingdom Gilt Inflation Linked, 0.13%, 3/22/26		1,038,209	^GBP		1,570,177


Description	Par Value			Value
0.13%, 3/22/46		360,406	^GBP	$	738,183

TOTAL GOVERNMENT				$	8,044,812

TOTAL FOREIGN GOVERNMENT INFLATION-LINKED SECURITIES (COST $8,151,421)				$	8,044,812
FOREIGN GOVERNMENT SECURITIES – 3.7%
GOVERNMENT – 3.7%
Argentine Republic Government International Bond, Sr. Unsecured, 6.88%, 1/26/27^Ώ		500,000			495,125
Autonomous Community of Catalonia, Sr. Unsecured, 4.75%, 6/04/18		100,000	^EUR		112,971
Brazil Letras do Tesouro Nacional,
10.66%, 1/01/18^‡		15,900,000	^BRL		4,597,729
11.19%, 10/01/17^‡		12,400,000	^BRL		3,666,931
Corp. Andina de Fomento, Series 11U, Unsecured, 3.95%, 10/15/21		4,656,923	^MXN		224,464
Hellenic Republic Government International Bond, Sr. Unsecured, 4.50%, 7/03/17		30,000,000	^JPY		259,407
Japan Treasury Discount Bill,
0.00%, 2/06/17^‡		180,000,000	^JPY		1,594,261
0.00%, 4/10/17^‡		250,000,000	^JPY		2,215,233
0.00%, 2/13/17^‡		160,000,000	^JPY		1,417,202
Mexican Bonos de Proteccion al Ahorro, 6.32%, 1/04/18^D		15,500,000	^MXN		742,734

TOTAL GOVERNMENT				$	15,326,057

TOTAL FOREIGN GOVERNMENT SECURITIES (COST $15,937,244)				$	15,326,057
INVESTMENT COMPANIES – 6.6%
INFLATION-PROTECTED SECURITIES FUNDS – 6.6%
Vanguard Inflation-Protected Securities Fund, Institutional Shares		2,648,464			27,755,902

TOTAL INVESTMENT COMPANIES (COST $27,991,516)				$	27,755,902
MORTGAGE-BACKED SECURITIES – 2.1%
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 1.4%
Fannie Mae Pool,
3.50%, 9/01/45		183,316			187,445
3.50%, 9/01/46		717,404			733,558
Federal National Mortgage Association, 3.00%, 4/15/46		5,000,000			4,926,172

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)				$	5,847,175
WHOLE LOAN – 0.7%
BCAP LLC Trust, Series 2009-RR6-I, Class 3A1, 3.85%, 12/26/37^D,Ώ		32,376			32,292
Dryden XXV Senior Loan Fund, Series 2012-25A, Class AR, 2.22%, 1/15/25^D,Ώ		400,000			399,998
Grifonas Finance PLC, Class A, 0.09%, 8/28/39^D		544,256	^EUR		447,779


Description	Par Value			Value
JP Morgan Resecuritization Trust, Series 2009-7, Class 13A1, 2.52%, 6/27/37^D,Ώ	$	47,745		$	46,993
Marche Mutui 4 Srl, Class A, 0.11%, 2/25/55^D		17,036	^EUR		18,391
Marche Mutui Srl, Series 6, Class A1, 1.92%, 1/27/64^D		37,290	^EUR		40,630
Rise Ltd., 2014-1, Class A, 4.75%, 2/15/39^D,††		231,408			228,307
Sequoia Mortgage Trust 6, Series 6, Class A, 1.41%, 4/19/27^D		868,014			824,671
Trinity Square 2015-1A PLC, 1.51%, 7/15/51^D,Ώ		498,920	^GBP		633,485
WAMU Mortgage Pass-Through Certificates, Series 2006-AR14, Class 1A4,
2.63%, 11/25/36^D		281,110			246,109
2.83%, 3/25/37^D		108,731			102,056

TOTAL WHOLE LOAN				$	3,020,711

TOTAL MORTGAGE-BACKED SECURITIES (COST $8,915,048)				$	8,867,886
U.S. GOVERNMENT INFLATION-LINKED SECURITIES – 40.9%
U.S. TREASURY INFLATION INDEXED BONDS – 37.2%
U.S. Treasury Inflation Indexed Bond,
0.13%, 4/15/18		9,680,000			10,244,142
0.13%, 4/15/19		4,170,000			4,375,409
0.13%, 4/15/20		11,530,000			12,103,713
0.13%, 4/15/21		1,700,000			1,756,689
0.13%, 1/15/23		12,900,000			13,538,378
0.13%, 7/15/24		15,800,000			15,970,023
0.13%, 7/15/26		170,000			167,544
0.25%, 1/15/25		2,860,000			2,898,213
0.38%, 7/15/23		14,750,000			15,608,200
0.38%, 7/15/25		3,170,000			3,245,509
0.63%, 1/15/24		4,680,000			4,980,922
0.63%, 1/15/26		4,320,000			4,478,188
0.63%, 2/15/43		500,000			487,632
0.75%, 2/15/42		4,630,000			4,745,836
0.75%, 2/15/45		400,000			391,454
1.00%, 2/15/46		2,910,000			3,020,685
1.38%, 2/15/44		9,430,000			10,798,662
1.75%, 1/15/28		2,970,000			3,871,144
1.88%, 7/15/19		800,000			967,535
2.00%, 1/15/26		980,000			1,358,074
2.13%, 2/15/40		450,000			631,471
2.13%, 2/15/41		650,000			903,632
2.38%, 1/15/25		2,013,000			2,987,186
2.38%, 1/15/27		2,940,000			4,180,919
2.50%, 1/15/29		6,980,000			9,589,969


Description	Par Value		Value
3.63%, 4/15/28	$	8,810,000	$	17,482,931
3.88%, 4/15/29		2,380,000		4,836,298

TOTAL U.S. TREASURY INFLATION INDEXED BONDS			$	155,620,358
U.S. TREASURY INFLATION INDEXED NOTES – 3.7%
U.S. Treasury Inflation Indexed Note,
0.13%, 1/15/22		1,330,000		1,435,708
0.13%, 7/15/22		4,790,000		5,099,681
0.63%, 7/15/21		3,580,000		3,998,409
1.25%, 7/15/20		4,020,000		4,733,810

TOTAL U.S. TREASURY INFLATION INDEXED NOTES			$	15,267,608

TOTAL U.S. GOVERNMENT INFLATION-LINKED SECURITIES (COST $170,029,062)			$	170,887,966
U.S. TREASURY – 0.9%
U.S. TREASURY BILL – 0.0%**
U.S. Treasury Bill, 0.47%, 3/02/17^‡		113,000		112,958
U.S. TREASURY NOTES – 0.9%
U.S. Treasury Note,
1.75%, 11/30/21		3,040,000		3,020,873
2.00%, 11/15/26		300,000		288,345
2.13%, 12/31/21^#		200,000		201,930

TOTAL U.S. TREASURY NOTES			$	3,511,148

TOTAL U.S. TREASURY (COST $3,627,894)			$	3,624,106

TOTAL INFLATION-LINKED & FIXED INCOME SECURITIES (COST $254,527,088)			$	254,280,935


Description	Number of Shares		Value
REAL ESTATE RELATED SECURITIES – 48.8%
COMMON STOCKS – 16.6%
DIVERSIFIED – 0.1%
Kiwi Property Group Ltd.		166,361	$	176,376
Morguard Corp.		237		31,527

TOTAL DIVERSIFIED			$	207,903
DIVERSIFIED REAL ESTATE ACTIVITIES – 7.9%
Airport City Ltd.*		17,603		188,659
Alexander & Baldwin, Inc.		835		37,174
Allreal Holding AG		2,064		313,287
Alrov Properties & Lodgings Ltd.		1		15
Argosy Property Ltd.		98,676		74,209
CapitaLand Ltd.		467,400		1,091,103
City Developments Ltd.		116,500		762,972
D Carnegie & Co. AB*		6,164		77,516
Daito Trust Construction Co. Ltd.		16,500		2,307,458
Daiwa House Industry Co. Ltd.		117,506		3,188,720
DIC Asset AG		15,969		157,733
DREAM Unlimited Corp., Class A*		9,069		47,044
Far East Consortium International Ltd.		231,000		100,333
Goldin Properties Holdings Ltd.*		174,000		154,066
Grand City Properties SA		8,713		158,628
Great Eagle Holdings Ltd.		44,000		200,467
Hang Lung Properties Ltd.		423,000		1,046,746
Heiwa Real Estate Co. Ltd.		11,100		154,541
Henderson Land Development Co. Ltd.		226,440		1,256,395
HKR International Ltd.*		60,800		30,639
K Wah International Holdings Ltd.		357,000		178,985
Kerry Properties Ltd.		117,000		332,502
LendLease Group		80,964		865,167
Leopalace21 Corp.		58,200		334,015
Mitsubishi Estate Co. Ltd.		269,210		5,156,024
Mitsui Fudosan Co. Ltd.		219,589		5,088,607
Mobimo Holding AG*		783		204,939
Nomura Real Estate Holdings, Inc.		25,700		442,711
Patrizia Immobilien AG*		3,091		49,634
Realia Business SA*		31,207		30,319
Shinoken Group Co. Ltd.		1,800		30,162
Soundwill Holdings Ltd.		54,000		99,524
Sumitomo Realty & Development Co. Ltd.		96,498		2,618,633
Sun Hung Kai Properties Ltd.		336,900		4,663,426
Tokyo Tatemono Co. Ltd.		27,800		368,828
Tokyu Fudosan Holdings Corp.		59,400		347,741
United Industrial Corp. Ltd.		35,000		70,281


Description	Number of Shares		Value
UOL Group Ltd.		61,200	$	276,613
Wheelock & Co. Ltd.		116,000		707,910

TOTAL DIVERSIFIED REAL ESTATE ACTIVITIES			$	33,213,726
FINANCIALS – 0.0%**
Nam Tai Property, Inc.^#		8,138		60,221
Vib Vermoegen AG		3,224		64,682

TOTAL FINANCIALS			$	124,903
INDUSTRIALS – 0.0%**
Property For Industry Ltd.		30,878		36,248
OFFICE – 0.0%**
Precinct Properties New Zealand Ltd.		142,074		128,736
REAL ESTATE DEVELOPMENT – 1.8%
ADLER Real Estate AG*		8,954		130,925
Aveo Group		103,331		249,987
Cheung Kong Property Holdings Ltd.		591,634		3,919,368
Daikyo, Inc.		53,000		108,901
Frasers Centrepoint Ltd.		85,200		95,214
Goldcrest Co. Ltd.		7,000		124,365
Greenland Hong Kong Holdings Ltd.*		133,000		29,655
Helical PLC		26,896		99,560
Hilton Worldwide Holdings, Inc.		3,300		190,014
Howard Hughes Corp, (The)*		472		50,320
Nexity SA		4,100		201,205
Peet Ltd.		82,658		64,882
RMR Group, Inc, Class A (The)		1,625		77,675
Road King Infrastructure Ltd.		125,000		107,779
Selvaag Bolig ASA		11,740		56,508
Sino Land Co. Ltd.		694,000		1,153,849
St. Modwen Properties PLC		49,886		200,006
Tag Immobilien AG		18,194		245,310
Villa World Ltd.		19,108		35,214
Wing Tai Holdings Ltd.		132,500		163,116

TOTAL REAL ESTATE DEVELOPMENT			$	7,303,853
REAL ESTATE MANAGEMENT & DEVELOPMENT – 1.1%
ADO Group Ltd.*		8,666		99,590
Africa Israel Properties Ltd.*		4,177		77,411
Arealink Co. Ltd.		5,400		60,499
Big Shopping Centers Ltd.		550		36,827
Brack Capital Properties NV		460		39,245
Chinese Estates Holdings Ltd.		60,500		95,441
Inmobiliaria Colonial SA		61,156		448,660
Investore Property Ltd.		10,849		11,064
Jerusalem Economy Ltd.*		55,941		122,239
Liu Chong Hing Investment Ltd.		26,000		36,057
New World Development Co. Ltd.		965,000		1,119,360


Description	Number of Shares		Value
Property & Building Corp. Ltd.		796	$	63,540
Propertylink Group		138,650		80,441
SAMTY Co. Ltd.		10,400		106,109
SEA Holdings Ltd.		18,000		42,965
Sun Frontier Fudousan Co. Ltd.		12,100		107,701
TK Development A/S*		31,195		43,927
Tricon Capital Group, Inc.		28,642		213,508
UBM Development AG		1,429		48,700
Wang On Properties Ltd.*		480,000		71,763
Wharf Holdings Ltd.		213,000		1,607,335
Wheelock Properties Singapore Ltd.		40,300		46,609
Yoma Strategic Holdings Ltd.		76,000		31,007

TOTAL REAL ESTATE MANAGEMENT & DEVELOPMENT			$	4,609,998
REAL ESTATE OPERATING COMPANIES – 5.7%
Ado Properties SA^Ώ		8,697		310,712
Aeon Mall Co. Ltd.		24,300		352,738
Alony Hetz Properties & Investments Ltd.		25,574		205,566
Amot Investments Ltd.		9,612		40,543
Ascendas India Trust		120,800		89,999
Atrium European Real Estate Ltd.		43,596		182,601
Atrium Ljungberg AB, Class B		11,136		173,015
Azrieli Group Ltd.		3,773		172,157
Blue Square Real Estate Ltd.		1,827		72,265
Buwog AG*		8,530		203,317
CA Immobilien Anlagen AG		14,075		277,063
Capital & Counties Properties PLC		146,986		502,952
Castellum AB		51,380		707,811
Citycon OYJ		38,691		96,148
Croesus Retail Trust		122,867		74,539
Daejan Holdings PLC		1,422		113,236
Daibiru Corp.		18,600		168,851
Deutsche Euroshop AG		3,631		150,731
Deutsche Wohnen AG		61,494		2,000,787
Dios Fastigheter AB		26,989		134,218
Entra ASA^Ώ		8,709		93,974
Fabege AB		33,041		563,205
Fastighets AB Balder, Class B*		7,990		163,598
First Capital Realty, Inc.		27,871		443,366
Gazit-Globe Ltd.		3,486		32,580
Global Logistic Properties Ltd.		578,200		1,066,676
Grainger PLC		95,836		287,420
Hang Lung Group Ltd.		166,000		638,634
Hemfosa Fastigheter AB		34,986		323,378
Hongkong Land Holdings Ltd.		218,400		1,474,200
Hufvudstaden AB, Class A		33,985		541,609
Hulic Co. Ltd.		99,600		972,095
Hysan Development Co. Ltd.		121,000		553,622


Description	Number of Shares		Value
Immofinanz AG		87,104	$	159,662
Intershop Holding AG		211		106,827
Keihanshin Building Co. Ltd.		21,100		112,125
Klovern AB, Class B		158,813		167,308
Kungsleden AB		38,874		250,432
Langham Hospitality Investments & Langham Hospitality Investments Ltd.		206,000		85,226
LEG Immobilien AG*		21,815		1,711,100
Melisron Ltd.		1,928		88,279
NTT Urban Development Corp.		9,000		79,231
Olav Thon Eiendomsselskap ASA		6,970		133,518
Perennial Real Estate Holdings Ltd.		35,647		18,970
Platzer Fastigheter Holding, Class B		13,318		66,384
PSP Swiss Property AG		9,312		836,108
S Immo AG		10,793		125,016
Sagax AB, Class B		9,716		88,251
Sponda OYJ		52,668		239,475
Stride Stapled Group		43,396		56,356
Swire Properties Ltd.		202,800		572,416
Swiss Prime Site AG*		12,853		1,068,973
Technopolis OYJ		43,484		144,579
Tlg Immobilien AG		14,126		268,079
Toc Co. Ltd.		23,100		182,697
Unite Group PLC (The)		67,359		496,988
Unizo Holdings Co. Ltd.		5,800		165,406
Victoria Park AB, Class B		16,321		41,982
Vonovia SE		80,024		2,614,915
Wallenstam AB, Class B		46,984		369,014
WCM Beteiligungs & Grundbesitz-AG*		46,523		138,462
Wihlborgs Fastigheter AB		7,180		137,081

TOTAL REAL ESTATE OPERATING COMPANIES			$	23,708,466

TOTAL COMMON STOCKS (COST $64,442,108)			$	69,333,833
INVESTMENT COMPANIES – 0.0%**
DIVERSIFIED REAL ESTATE ACTIVITIES – 0.0%**
U.K. Commercial Property Trust Ltd.		82,239		86,955
REAL ESTATE OPERATING COMPANIES – 0.0%**
F&C Commercial Property Trust Ltd.		44,672		76,429

TOTAL INVESTMENT COMPANIES (COST $174,964)			$	163,384
PREFERRED STOCK – 0.0%**
CONSUMER FINANCE – 0.0%**
Navient Corp. 3.79%		3,000		74,370

TOTAL PREFERRED STOCK (COST $71,100)			$	74,370


Description	Number of Shares		Value
REAL ESTATE INVESTMENT TRUSTS – 32.2%
DIVERSIFIED – 5.1%
Abacus Property Group		80,883	$	172,369
Activia Properties, Inc.		147		718,661
American Assets Trust, Inc.		2,676		114,881
Armada Hoffler Properties, Inc.		3,286		45,281
Artis Real Estate Investment Trust		20,410		191,983
Astro Japan Property Group		7,569		36,164
Canadian Real Estate Investment Trust		8,181		297,439
Charter Hall Group		91,589		326,466
Colony NorthStar, Inc. Class A		17,423		242,528
Cominar Real Estate Investment Trust		2,796		31,350
Daiwa House Residential Investment Corp.		161		405,530
Dream Global Real Estate Investment Trust		21,253		155,651
Eurosic		4,296		170,894
Fonciere Des Regions		9,095		756,485
Forest City Realty Trust, Inc., Class A		8,488		192,168
Gecina SA		12,268		1,579,935
Goodman Property Trust		131,446		121,035
GPT Group		439,061		1,558,359
Gramercy Property Trust		11,487		302,568
Growthpoint Properties Australia Ltd.		51,879		121,969
H&R Real Estate Investment Trust		14,800		256,590
Hamborner Real Estate Investment Trust AG		21,547		208,201
Hankyu Real Estate Investment Trust, Inc.		64		87,914
Heiwa Real Estate Investment Trust, Inc.		278		213,221
Hibernia Real Estate Investment Trust PLC		174,765		229,599
Hispania Activos Inmobiliarios SOCIMI SA		17,307		212,986
Hulic Real Estate Investment Trust, Inc.		206		357,595
Kenedix Office Investment Corp.		170		1,002,746
Land Securities Group PLC		202,756		2,535,375
Liberty Property Trust		1,879		72,135
Londonmetric Property PLC		22,606		41,975
Mapletree Greater China Commercial Trust		425,100		288,055
Mirvac Group		1,083,571		1,668,208
Morguard Real Estate Investment Trust		8,110		93,861
Nieuwe Steen Investments NV		79,390		322,839
NIPPON Real Estate Investment Trust Investment Corp.		97		244,841
Nomura Real Estate Master Fund, Inc.		594		925,379
PS Business Parks, Inc.		1,520		170,301
Redefine International PLC/Isle of Man		64,623		31,705
Reit 1 Ltd.		11,700		34,452
Sakura Sogo REIT Investment Corp.*		169		122,585
Samty Residential Investment Corp.		153		113,554
Sekisui House Real Estate Investment Trust, Inc.		198		266,549


Description	Number of Shares		Value
Sekisui House Si Residential Investment Corp.		115	$	128,842
Soilbuild Business Space Real Estate
Investment Trust		289,720		130,537
Spirit Realty Capital, Inc.		61,586		647,884
Star Asia Investment Corp.		135		114,303
Stockland		424,334		1,399,890
Sunlight Real Estate Investment Trust		177,000		107,219
Suntec Real Estate Investment Trust		287,500		352,911
Tokyu Real Estate Investment Trust, Inc.		226		281,024
Tosei REIT Investment Corp.		111		107,353
United Urban Investment Corp.		543		866,126
Washington Real Estate Investment Trust		4,991		156,967
Yuexiu Real Estate Investment Trust		322,000		177,208

TOTAL DIVERSIFIED			$	21,512,646
DIVERSIFIED REAL ESTATE ACTIVITIES – 0.2%
Merlin Properties Socimi SA		85,372		954,312
Sella Capital Real Estate Ltd.		73,191		123,488

TOTAL DIVERSIFIED REAL ESTATE ACTIVITIES			$	1,077,800
FINANCIALS – 0.0%**
Select Income Real Estate Investment Trust		5,131		128,326
INDUSTRIALS – 3.3%
AIMS AMP Capital Industrial Real Estate
Investment Trust		157,800		152,274
Ascendas Real Estate Investment Trust		637,100		1,112,049
Cache Logistics Trust		83,800		48,163
Cambridge Industrial Trust		357,000		143,119
DCT Industrial Trust, Inc.		17,686		790,387
Dream Industrial Real Estate Investment Trust		11,216		73,696
Duke Realty Corp.		28,834		701,531
EastGroup Properties, Inc.		1,859		131,561
First Industrial Realty Trust, Inc.		9,049		233,917
Frasers Logistics & Industrial Trust		289,600		193,156
GLP J-Real Estate Investment Trust		543		623,745
Goodman Group		369,247		1,937,849
Granite Real Estate Investment Trust		1,400		47,748
Hansteen Holdings PLC		66,138		91,522
Industria Real Estate Investment Trust		37,595		58,449
Industrial & Infrastructure Fund Investment Corp.		75		350,058
Japan Logistics Fund, Inc.		184		388,175
LaSalle Logiport Real Estate Investment Trust		265		252,537
Mapletree Industrial Trust		223,100		260,403
Mapletree Logistics Trust		90,500		67,425
Mitsui Fudosan Logistics Park, Inc.		23		69,259


Description	Number of Shares		Value
Monmouth Real Estate Investment Corp.		6,676	$	97,470
Mucklow (A & J) Group PLC		7,083		41,790
Nippon Prologis Real Estate Investment Trust, Inc.		663		1,385,776
Prologis, Inc.		47,079		2,299,809
Pure Industrial Real Estate Trust		20,600		90,078
Segro PLC		202,720		1,176,929
STAG Industrial, Inc.		1,515		35,057
Terreno Realty Corp.		3,822		103,920
Tritax Big Box Real Estate Investment Trust PLC		257,905		449,033
Warehouses De Pauw CVA		3,506		317,919

TOTAL INDUSTRIALS			$	13,724,804
OFFICE – 5.4%
Alexandria Real Estate Equities, Inc.		9,218		1,021,539
Allied Properties Real Estate Investment Trust		2,149		55,985
Alstria Office Real Estate Investment Trust AG		23,481		293,148
Axiare Patrimonio SOCIMI SA		7,323		106,720
Befimmo SA		5,195		284,720
Beni Stabili SpA SIIQ		303,351		170,611
Boston Properties, Inc.		12,123		1,586,901
Brandywine Realty Trust		2,103		33,858
Brookfield Canada Office Properties		3,425		81,753
CapitaLand Commercial Trust		207,600		224,635
Champion Real Estate Investment Trust		500,000		270,657
City Office Real Estate Investment Trust, Inc.		2,823		35,542
Cofinimmo SA		2,023		226,792
Columbia Property Trust, Inc.		1,453		32,329
Cromwell Property Group		323,940		239,533
Daiwa Office Investment Corp.		25		131,521
Derwent London PLC		20,785		645,062
Dexus Property Group		175,647		1,196,228
Douglas Emmett, Inc.		9,922		375,448
Dream Office Real Estate Investment Trust		14,135		208,671
Empire State Realty Trust, Inc., Class A		5,850		119,866
Frasers Commercial Trust		185,300		165,006
GDI Property Group		97,742		73,757
Global One Real Estate Investment Corp.		54		204,216
Government Properties Income Trust^#		3,139		60,457
Great Portland Estates PLC		50,744		395,465
Green Real Estate Investment Trust PLC		21,644		30,374
Highwoods Properties, Inc.		11,357		583,863
Hudson Pacific Properties, Inc.		15,560		550,980
ICADE		8,384		592,994
Intervest Offices & Warehouses NV		2,561		64,139


Description	Number of Shares		Value
Invesco Office J-Reit, Inc.		228	$	200,517
Investa Office Fund		72,461		247,294
Japan Excellent, Inc.		281		351,157
Japan Prime Realty Investment Corp.		111		445,337
Japan Real Estate Investment Corp.		214		1,216,792
Keppel Real Estate Investment Trust		404,200		289,667
Kilroy Realty Corp.		13,230		990,265
Lar Espana Real Estate Socimi SA		25,855		196,379
Mack-Cali Realty Corp.		8,627		241,729
MCUBS MidCity Investment Corp.		68		216,208
Mori Hills Real Estate Investment Trust Investment Corp.		395		536,998
Mori Trust Sogo Real Estate Investment Trust, Inc.		61		97,894
Nippon Building Fund, Inc.		208		1,193,730
NorthStar Realty Europe Corp.		2,897		34,793
Orix JREIT, Inc.		650		1,063,280
Paramount Group, Inc.		20,700		345,483
Premier Investment Corp.		145		168,873
Prosperity Real Estate Investment Trust		177,000		71,859
SIA Real Estate Investment Trust, Inc.		39		137,818
SL Green Realty Corp.		11,037		1,202,702
Spring Real Estate Investment Trust		165,000		66,775
VEREIT, Inc.		103,636		884,015
Vornado Realty Trust		20,103		2,137,150
Workspace Group PLC		27,617		262,304

TOTAL OFFICE			$	22,661,789
REAL ESTATE OPERATING COMPANIES – 0.1%
iStar, Inc.*		3,202		35,926
Manulife US Real Estate Investment Trust*		124,600		106,533
Picton Property Income Ltd.		63,920		64,329
Schroder Real Estate Investment Trust Ltd.		71,756		51,228

TOTAL REAL ESTATE OPERATING COMPANIES			$	258,016
RESIDENTIAL – 3.2%
Advance Residence Investment Corp.		166		437,972
American Campus Communities, Inc.		16,394		797,076
American Homes 4 Rent, Class A		24,977		556,488
Apartment Investment & Management Co., Class A		9,619		423,909
Ascott Residence Trust		47,100		37,931
AvalonBay Communities, Inc.		11,524		1,997,224
Bluerock Residential Growth Real Estate Investment Trust, Inc.		2,866		37,487
Boardwalk Real Estate Investment Trust		824		29,882
Camden Property Trust		1,563		130,620
Canadian Apartment Properties Real Estate Investment Trust		14,317		348,999
Colony Starwood Homes		4,028		126,681


Description	Number of Shares		Value
Comforia Residential Real Estate Investment
Trust, Inc.		116	$	259,102
Education Realty Trust, Inc.		3,441		138,363
Equity Lifestyle Properties, Inc.		5,280		390,403
Equity Residential		23,490		1,427,487
Essex Property Trust, Inc.		3,242		727,181
Ichigo Office Real Estate Investment Trust Investment		49		32,722
Ingenia Communities Group		61,583		121,898
InterRent Real Estate Investment Trust		6,334		36,166
Invincible Investment Corp.		1,183		559,491
Irish Residential Properties Real Estate Investment Trust PLC		48,633		60,900
Japan Rental Housing Investments, Inc.		385		281,649
Kenedix Residential Investment Corp.		87		241,560
Killam Apartment Real Estate Investment Trust		6,336		59,112
Mid-America Apartment Communities, Inc.		11,058		1,049,957
Milestone Apartments Real Estate Investment Trust		11,954		192,918
Monogram Residential Trust, Inc.		3,847		39,124
NexPoint Residential Trust, Inc.		4,363		100,829
Nippon Accommodations Fund, Inc.		61		268,776
Northview Apartment Real Estate Investment Trust		2,317		36,947
Sun Communities, Inc.		14,217		1,119,731
UDR, Inc.		32,719		1,143,529
UMH Properties, Inc.^#		3,172		46,470

TOTAL RESIDENTIAL			$	13,258,584
RETAIL – 10.1%
AEON Real Estate Investment Trust
Investment Corp.		36		39,217
Agree Realty Corp.		998		46,806
Altarea SCA		454		85,816
British Land Co. PLC (The)		180,547		1,324,161
Brixmor Property Group, Inc.		3,997		96,448
BWP Trust		116,136		257,186
Capital & Regional PLC		68,165		47,164
CapitaLand Mall Trust		506,300		696,933
CapitaLand Retail China Trust Management Ltd.		57,300		57,733
Charter Hall Retail Real Estate Investment Trust		20,074		64,398
Choice Properties Real Estate Investment Trust		3,565		37,917
Crombie Real Estate Investment Trust		2,904		30,061
CT Real Estate Investment Trust		8,023		90,573
DDR Corp.		44,766		679,548
Equity One, Inc.		6,112		190,633


Description	Number of Shares		Value
Eurocommercial Properties NV		16,354	$	606,069
Federal Realty Investment Trust		3,400		477,462
Fortune Real Estate Investment Trust		295,000		342,352
Frasers Centrepoint Trust		152,700		216,696
Frontier Real Estate Investment Corp.		53		241,272
Fukuoka Real Investment Trust Corp.		25		40,120
Getty Realty Corp.		5,416		139,679
GGP, Inc.		73,263		1,819,853
Hammerson PLC		191,914		1,319,407
Immobiliare Grande Distribuzione SIIQ SpA		154,662		116,203
Intu Properties PLC		172,860		587,791
Japan Retail Fund Investment Corp.		772		1,651,893
Kenedix Retail Real Estate Investment Trust Corp.		102		245,808
Kimco Realty Corp.		45,069		1,121,768
Klepierre		62,687		2,378,634
Link Real Estate Investment Trust		468,500		3,209,318
Macerich Co. (The)		6,901		474,030
Mapletree Commercial Trust		479,831		520,908
Mercialys SA		2,285		44,721
National Retail Properties, Inc.		9,211		401,600
NewRiver REIT PLC		49,276		194,647
OneREIT		35,103		98,464
Plaza Retail Real Estate Investment Trust		17,012		67,067
Realty Income Corp.		12,765		761,177
Regency Centers Corp.		19,039		1,327,589
Retail Estates NV		1,078		86,685
Retail Opportunity Investments Corp.		8,569		181,663
RioCan Real Estate Investment Trust		30,403		607,710
Saul Centers, Inc.		2,445		155,233
Scentre Group		1,190,172		3,971,542
Shaftesbury PLC		53,242		587,068
Shopping Centres Australasia Property Group		168,799		277,796
Simon Property Group, Inc.		25,628		4,709,659
Smart Real Estate Investment Trust		13,807		339,750
SPH Real Estate Investment Trust		245,100		168,693
Starhill Global Real Estate Investment Trust		372,600		202,249
Taubman Centers, Inc.		2,601		184,255
Unibail-Rodamco SE		18,988		4,364,975
Urban Edge Properties		6,543		183,008
Vastned Retail NV		820		30,243
Vicinity Centres		580,658		1,259,457
Viva Energy REIT		113,224		193,205
Washington Prime Group, Inc.		5,403		52,139
Weingarten Realty Investors		864		30,784
Wereldhave Belgium NV		665		72,326
Wereldhave NV		3,334		145,942


Description	Number of Shares		Value
Westfield Corp.		329,869	$	2,199,010

TOTAL RETAIL			$	42,152,514
SPECIALIZED – 4.8%
Aedifica SA		1,928		146,481
ALE Property Group		22,174		73,153
Arena Real Estate Investment Trust		49,769		70,583
Ascendas Hospitality Trust		89,000		46,415
Ashford Hospitality Trust, Inc.		6,626		50,358
Assura PLC		65,987		43,166
Big Yellow Group PLC		12,620		109,227
Care Capital Properties, Inc.		2,550		63,010
CareTrust Real Estate Investment Trust, Inc.		4,804		72,829
CDL Hospitality Trusts		63,800		64,056
CoreCivic, Inc.		2,465		71,584
Coresite Realty Corp.		2,143		184,577
Crown Castle International Corp.		3,900		342,537
CubeSmart		20,019		503,078
CyrusOne, Inc.^#		4,650		223,944
DiamondRock Hospitality Co.		8,300		93,541
Digital Realty Trust, Inc.^#		19,732		2,123,755
DuPont Fabros Technology, Inc.		6,303		299,266
EPR Properties		4,615		341,372
Extra Space Storage, Inc.		6,922		498,730
FelCor Lodging Trust, Inc.^#		10,417		80,211
First Real Estate Investment Trust		92,000		82,903
Folkestone Education Trust		65,711		124,089
Four Corners Property Trust, Inc.		2,000		43,620
Gaming and Leisure Properties, Inc.		22,966		726,415
Geo Group, Inc. (The)		1,955		81,172
HCP, Inc.		33,850		1,026,332
Health Care & Medical Investment Corp.		75		68,417
Healthcare Realty Trust, Inc.		22,619		683,320
Healthcare Trust of America, Inc., Class A		22,016		640,005
Hoshino Resorts Real Estate Investment Trust, Inc.		42		224,303
Hospitality Properties Trust		1,323		41,185
Host Hotels & Resorts, Inc.		74,701		1,349,847
Hotel Property Investments		62,680		133,102
Iron Mountain, Inc.		4,878		174,632
Japan Hotel REIT Investment Corp.		741		520,426
Japan Senior Living Investment Corp.		61		78,553
Keppel DC REIT		94,900		80,467
LaSalle Hotel Properties		1,261		38,044
LTC Properties, Inc.		2,588		120,782
Medical Properties Trust, Inc.		2,936		37,434


Description	Number of Shares		Value
National Health Investors, Inc.		1,042	$	77,098
National Storage Real Estate Investment Trust		108,965		119,413
Nippon Healthcare Investment Corp.		24		37,198
NorthWest Healthcare Properties Real Estate Investment Trust		7,900		60,711
Omega Healthcare Investors, Inc.^#		2,806		89,988
Ooedo Onsen REIT Investment Corp.		44		33,280
OUE Hospitality Trust		271,300		133,788
Physicians Realty Trust		4,416		81,917
Primary Health Properties PLC		140,945		187,948
Public Storage		11,682		2,511,630
QTS Realty Trust, Inc., Class A		9,505		478,957
Quality Care Properties, Inc.*		7,634		140,924
Regal Real Estate Investment Trust		106,000		28,826
Safestore Holdings PLC		82,745		385,250
Senior Housing Properties Trust		5,419		103,232
Summit Hotel Properties, Inc.		6,545		103,607
Sunstone Hotel Investors, Inc.		24,570		361,671
Universal Health Realty Income Trust		969		60,194
Ventas, Inc.		12,839		791,781
Vital Healthcare Property Trust		25,389		38,280
Welltower, Inc.		34,932		2,315,992
Xenia Hotels & Resorts, Inc.		8,159		149,718

TOTAL SPECIALIZED			$	20,068,324

TOTAL REAL ESTATE INVESTMENT TRUSTS (COST $120,492,538)			$	134,842,803

TOTAL REAL ESTATE RELATED SECURITIES (COST $185,180,710)			$	204,414,390

	Contracts/ Notional Value
PURCHASED OPTIONS – 0.2%
CALL OPTIONS – 0.0%**
IRO USD 30Y DUB, Strike Price $2.15, Expiring 6/15/2018	$	1,100,000	$	32,741
PUT OPTIONS – 0.2%
3M GBP Libor Option, Strike Price $98.50, Expiring 6/21/2017		53		—
IRO USD 10Y MYC, Strike Price $2.72, Expiring 7/16/2018		3,400,000		103,614
IRO USD 10Y MYC, Strike Price $2.77, Expiring 7/16/2018		4,500,000		130,050
IRO USD 1Y MYC, Strike Price $1.25, Expiring 2/06/2017		18,400,000		3,269
IRO USD 1Y MYC, Strike Price $1.25, Expiring 2/21/2017		10,000,000		4,300


Description	Contracts/ Notional Value		Value
IRO USD 30Y DUB, Strike Price $2.15, Expiring 6/15/2018	$	1,100,000	$	157,378
IRO USD 30Y DUB, Strike Price $2.86, Expiring 10/23/2018		800,000		56,262
IRO USD 30Y MYC, Strike Price $2.59, Expiring 12/10/2018		300,000		40,361
IRO USD 30Y MYC, Strike Price $2.60, Expiring 3/29/2019		900,000		93,604
IRO USD 30Y MYC, Strike Price $2.61, Expiring 10/17/2018		1,000,000		94,008
IRO USD 30Y MYC, Strike Price $2.61, Expiring 11/15/2018		300,000		28,677

TOTAL PUT OPTIONS			$	711,523

TOTAL PURCHASED OPTIONS (COST $622,196)			$	744,264

	Number of Shares
SHORT-TERM INVESTMENTS – 1.3%
MONEY MARKET FUNDS – 1.3%
Dreyfus Government Cash Management Fund, Institutional Shares, 0.47%^{^}		5,354,210	$	5,354,210

TOTAL SHORT-TERM INVESTMENT (COST $5,354,210)			$	5,354,210



Description	Par Value			Value
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 0.7%
REPURCHASE AGREEMENTS – 0.7%
Citigroup Global Markets, Inc., 0.56%, dated 1/31/17, due 2/01/17, repurchase price $538,685, collateralized by U.S. Government & Treasury Securities 0.88% to 11.50%, maturing 2/01/17 to 6/01/52; total market value of $549,449.	$	538,676		$	538,676
Daiwa Capital Markets America, 0.58%, dated 1/31/17, due 2/01/17, repurchase price $538,685, collateralized by U.S. Government & Treasury Securities 0.00% to 8.88%, maturing 2/16/17 to 9/09/49; total market value of $549,450.		538,676			538,676
HSBC Securities USA, Inc., 0.53% dated 1/31/17, due 2/01/17, repurchase price $538,684, collateralized by U.S. Government Securities 2.50% to 6.00%, maturing 10/01/22 to 2/01/47; total market value of $549,450.		538,676			538,676
Merrill Lynch, Pierce, Fenner & Smith, Inc., 0.54%, dated 1/31/17, due 2/01/17, repurchase price $141,717, collateralized by U.S. Treasury Securities 0.00% to 1.25%, maturing 11/15/24 to 9/09/49; total market value of $144,549.		141,715			141,715
Nomura Securities International, Inc., 0.55%, dated 1/31/17, due 2/01/17, repurchase price $538,684, collateralized by U.S. Government Securities 0.00% to 7.13%, maturing 2/10/17 to 12/20/66; total market value of $549,449.		538,676			538,676
RBC Dominion Securities, Inc., 0.56%, dated 1/31/17, due 2/01/17, repurchase price $538,684, collateralized by U.S. Government Securities 3.00% to 7.00%, maturing 3/01/37 to 1/01/47; total market value of $549,450.		538,676			538,676

TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $2,835,095)				$	2,835,095

TOTAL INVESTMENTS IN SECURITIES BEFORE WRITTEN OPTIONS – 111.8% (COST $448,519,299)				$	467,628,894

	Contracts/ Notional Value
WRITTEN OPTIONS – (0.1%)
CALL OPTIONS – (0.0%)**
10Y US Future Option, Strike Price $123.50, Expiring 2/24/2017	$	(16	)	$	(4,750	)
10Y US Future Option, Strike Price $125.50, Expiring 2/24/2017		(16	)		(4,750	)
IRO USD 10Y GLM, Strike Price $1.95, Expiring 2/16/2017		(4,900,000	)		(116	)


Description	Contracts/ Notional Value			Value
IRO USD 5Y RYL, Strike Price $1.80, Expiring 11/07/2017	$	(1,900,000	)	$	(3,304	)
OTC Ecal GBP vs USD CBK, Strike Price $1.28, Expiring 2/23/2017		(1,452,000	)		(9,640	)

TOTAL CALL OPTIONS				$	(22,560	)
CALL SWAPTIONS – (0.0%)**
INF CAP U.S. 20Y GLM, Strike Price $3.00, Expiring 6/22/2035		(600,000	)		(7,249	)
PUT OPTIONS – (0.1%)
3M GBP Libor Option, Strike Price $98.00, Expiring 6/21/2017		(53	)		—
INF FLOOR U.S. YOY, Strike Price $0.00, Expiring 4/10/2020		(8,300,000	)		56,011
IRO USD 10Y GLM, Strike Price $2.40, Expiring 2/16/2017		(4,900,000	)		(21,487	)
IRO USD 30Y MYC, Strike Price $2.25, Expiring 10/17/2018		(4,600,000	)		(110,815	)
IRO USD 5Y DUB, Strike Price $2.50, Expiring 10/23/2018		(3,800,000	)		(71,684	)
IRO USD 5Y MYC, Strike Price $2.25, Expiring 11/15/2018		(1,400,000	)		(34,912	)
IRO USD 5Y MYC, Strike Price $2.25, Expiring 12/10/2018		(1,400,000	)		(35,816	)
IRO USD 5Y MYC, Strike Price $2.30, Expiring 3/29/2019		(4,300,000	)		(116,807	)
IRO USD 5Y RYL, Strike Price $2.60, Expiring 11/07/2017		(1,900,000	)		(35,574	)
ITRAXX EUR 26 5Y BOA, Strike Price $1.00, Expiring 2/16/2017		(200,000	)		(5	)
ITRAXX EUR 26 5Y BOA, Strike Price $1.00, Expiring 3/15/2017		(700,000	)		(212	)


Description	Contracts/ Notional Value			Value
ITRAXX EUR 26 5Y BRC, Strike Price $1.05, Expiring 2/16/2017	$	(800,000	)	$	(8	)
ITRAXX EUR 26 5Y BRC, Strike Price $1.10, Expiring 2/16/2017		(500,000	)		(2	)
ITRAXX EUR 26 5Y CBK, Strike Price $1.00, Expiring 2/16/2017		(200,000	)		(5	)
ITRAXX EUR 26 5Y GST, Strike Price $1.05, Expiring 2/16/2017		(200,000	)		(2	)

TOTAL PUT OPTIONS				$	(371,318	)
PUT SWAPTIONS – (0.0%)**
INF CAP U.S. 10Y JPM, Strike Price $4.00, Expiring 4/22/2024		(1,300,000	)		(814	)
INF CAP U.S. 10Y JPM, Strike Price $4.00, Expiring 5/16/2024		(100,000	)		(69	)
INF CAP U.S. YOY JPM, Strike Price $3.00, Expiring 4/10/2020		(8,300,000	)		40,032
INF FLOOR U.S. YOY 5Y JPM, Strike Price $0.00, Expiring 3/24/2020		(2,300,000	)		(7,510	)
INF FLOOR USD, Strike Price $216.69, Expiring 4/07/2020		(2,600,000	)		(112	)

TOTAL PUT SWAPTIONS				$	31,527

TOTAL WRITTEN OPTIONS (PREMIUMS RECEIVED $517,385)				$	(369,600	)
TOTAL INVESTMENTS NET OF WRITTEN OPTIONS – 111.7%				$	467,259,294
COLLATERAL FOR SECURITIES ON LOAN – (0.7%)					(2,835,095	)
OTHER LIABILITIES LESS ASSETS – (11.0%)					(46,026,901	)

TOTAL NET ASSETS – 100.0%				$	418,397,298

Cost of investments for Federal income tax purposes is $461,647,191. The net unrealized appreciation/(depreciation) of investments was $5,981,703. This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $24,387,721 and net unrealized depreciation from investments for those securities having an excess of cost over value of $18,406,018.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2017 in valuing the Fund’s assets carried at fair value:

At January 31, 2017, the Wilmington Multi-Manager Real Asset Fund had the following outstanding forward foreign currency contracts, which contractually obligates the Fund to deliver or receive currencies at specified future dates. The open contracts were as follows:

At January 31, 2017, the Wilmington Multi-Manager Real Asset Fund had open financial futures contracts as follows:

At January 31, 2017, the Wilmington Multi-Manager Real Asset Fund had open interest rate swap contracts as follows:

At January 31, 2017, the Wilmington Multi-Manager Real Asset Fund had open credit default swap contracts as follows:


Description	Number of Shares		Value
INVESTMENT COMPANIES – 97.6%
ALTERNATIVE INVESTMENT FUNDS – 7.6%
AQR Managed Futures Strategy Fund, Class I		155,401	$	1,459,213
Blackstone Alternative Multi-Strategy, Class Y		54,029		556,498
Legg Mason BW Absolute Return Opportunities Fund, Class I		45,395		539,744

TOTAL ALTERNATIVE INVESTMENT FUNDS			$	2,555,455
DEBT FUNDS – 58.8%
Fidelity Focused High Income Fund		193,732		1,658,345
FPA New Income, Inc.		151,154		1,510,025
Wilmington Broad Market Bond Fund, Class I^§		683,902		6,538,101
Wilmington Intermediate-Term Bond Fund, Class I^§		1,033,169		10,156,054

TOTAL DEBT FUNDS			$	19,862,525
EQUITY FUNDS – 20.3%
Diamond Hill Large Cap Fund, Class Y		27,313		648,962
Federated International Strategic Value Dividend Fund, Class I		98,189		341,697
Janus Enterprise Fund, Class I		6,018		595,085
LSV Value Equity Fund, Class I		26,332		690,423
Morgan Stanley Institutional Fund, Inc. - Growth Portfolio, Class I		14,762		572,189
T Rowe Price Institutional Large- Cap Growth Fund, Class I		20,551		632,974
Touchstone Small Cap Growth Fund, Class Y		31,134		183,382


Description	Number of Shares		Value
Victory Integrity Small-Cap Value Fund, Class Y		5,550	$	213,892
Wilmington Large-Cap Strategy Fund, Class I^§		83,809		1,574,770
Wilmington Multi-Manager International Fund, Class I^§		196,025		1,419,220

TOTAL EQUITY FUNDS			$	6,872,594
EXCHANGE-TRADED FUNDS – 10.9%
iShares Cohen & Steers REIT ETF		4,950		491,634
iShares Core MSCI Emerging Markets ETF		11,775		532,701
iShares Russell Mid-Cap Value ETF		5,525		451,724
iShares TIPS ETF		10,697		1,221,383
SPDR Dow Jones International Real Estate ETF		16,760		618,612
Vanguard Small-Cap ETF		2,875		376,424

TOTAL EXCHANGE-TRADED FUNDS			$	3,692,478

TOTAL INVESTMENT COMPANIES (COST $32,170,091)			$	32,983,052
MONEY MARKET FUND – 2.3%
Dreyfus Government Cash Management Fund, Institutional Shares, 0.47%^{^}		772,244		772,244

TOTAL MONEY MARKET FUND (COST $772,244)			$	772,244

TOTAL INVESTMENTS – 99.9% (COST $32,942,335)			$	33,755,296
OTHER ASSETS LESS LIABILITIES – 0.1%				28,315

TOTAL NET ASSETS – 100.0%			$	33,783,611

Cost of investments for Federal income tax purposes is $33,309,514. The net unrealized appreciation/(depreciation) of investments was $445,782. This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $1,258,005 and net unrealized depreciation from investments for those securities having an excess of cost over value of $812,223.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2017 in valuing the Fund’s assets carried at fair value:


Description	Number of Shares		Value
INVESTMENT COMPANIES – 79.7%
ALTERNATIVE INVESTMENT FUNDS – 6.5%
AQR Managed Futures Strategy Fund, Class I		202,765	$	1,903,963
Blackstone Alt Multi-Strategy, Class Y		45,284		466,423
Legg Mason BW Absolute Return Opportunities Fund, Class I		38,569		458,585

TOTAL ALTERNATIVE INVESTMENT FUNDS			$	2,828,971
DEBT FUNDS – 9.3%
Fidelity Focused High Income Fund		270,032		2,311,478
FPA New Income, Inc.		170,765		1,705,945

TOTAL DEBT FUNDS			$	4,017,423
EQUITY FUNDS – 48.8%
Diamond Hill Large Cap Fund, Class Y		71,452		1,697,694
Federated International Strategic Value Dividend Fund, Class I		330,631		1,150,598
Janus Enterprise Fund, Class I		16,349		1,616,761
LSV Value Equity Fund, Class I		64,413		1,688,921
Morgan Stanley Institutional Fund, Inc. - Growth Portfolio, Class I		43,735		1,695,157
T Rowe Price Institutional Large- Cap Growth Fund, Class I		55,460		1,708,160
Touchstone Small Cap Growth Fund, Class Y		140,015		824,688
Victory Integrity Small-Cap Value Fund, Class Y		24,958		961,896
Wilmington Large-Cap Strategy Fund, Class I^§		217,343		4,083,877
Wilmington Multi-Manager International Fund, Class I^§		783,454		5,672,205

TOTAL EQUITY FUNDS			$	21,099,957
EXCHANGE-TRADED FUNDS – 15.1%
iShares Cohen & Steers REIT ETF		6,325		628,199
iShares Core MSCI Emerging		17,075		772,473
iShares Russell Mid-Cap Value ETF^#		14,125		1,154,860
iShares TIPS ETF		13,600		1,552,848
SPDR Dow Jones International Real Estate ETF^#		21,125		779,724
Vanguard Small-Cap ETF^#		12,550		1,643,172

TOTAL EXCHANGE-TRADED FUNDS			$	6,531,276

TOTAL INVESTMENT COMPANIES (COST $31,076,505)			$	34,477,627


Description	Par Value		Value
COLLATERALIZED MORTGAGE OBLIGATIONS – 0.4%
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 0.3%
Series 1988-23, Class C, 9.75%, 9/25/18	$	210	$	220
Series 2012-114, Class VM, 3.50%, 10/25/25		142,816		149,192

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	149,412
WHOLE LOAN – 0.1%
Banc of America Mortgage Securities, Inc., Series 2004-A, Class 2A1, 3.34%, 2/25/34^D		27,413		27,571
IndyMac INDA Mortgage Loan Trust, Series 2005-AR1, Class 2A1, 3.40%, 11/25/35^D		13,900		13,175

TOTAL WHOLE LOAN			$	40,746

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (COST $200,921)			$	190,158
CORPORATE BONDS – 6.8%
AUTOMOTIVE – 0.1%
General Motors Financial Co., Inc., Company Guaranteed, 3.20%, 7/06/21		40,000		39,809
BEVERAGES –0.2%
Anheuser-Busch InBev Finance, Inc., Company Guaranteed, 4.90%, 2/01/46		20,000		21,500
Dr. Pepper Snapple Group, Inc., Company Guaranteed, 2.00%, 1/15/20		10,000		9,955
Dr. Pepper Snapple Group, Inc., Company Guaranteed, 2.70%, 11/15/22		40,000		39,521

TOTAL BEVERAGES			$	70,976
BIOTECHNOLOGY – 0.1%
Amgen, Inc., Sr. Unsecured, 4.40%, 5/01/45		25,000		23,734
Celgene Corp., Sr. Unsecured, 4.63%, 5/15/44		40,000		39,319

TOTAL BIOTECHNOLOGY			$	63,053
CAPITAL MARKETS – 0.2%
BlackRock, Inc., Sr. Unsecured, 3.38%, 6/01/22		38,000		39,534
Charles Schwab Corp. (The), Sr. Unsecured, 2.20%, 7/25/18		15,000		15,117
Morgan Stanley, Subordinated, GMTN, 4.35%, 9/08/26		10,000		10,203
TD Ameritrade Holding Corp., Sr. Unsecured, 2.95%, 4/01/22		18,000		18,194

TOTAL CAPITAL MARKETS			$	83,048


Description	Par Value		Value
COMMERCIAL BANKS – 0.2%
BB&T Corp., Sr. Unsecured, MTN, 2.45%, 1/15/20	$	30,000	$	30,297
Fifth Third Bancorp, Subordinated, 4.30%, 1/16/24		20,000		20,790
SunTrust Banks, Inc., Sr. Unsecured, 2.90%, 3/03/21		30,000		30,364

TOTAL COMMERCIAL BANKS			$	81,451
COMPUTERS – 0.1%
Apple, Inc., Sr. Unsecured, 1.05%, 5/05/17		45,000		45,030
CONSUMER FINANCE – 0.1%
American Express Co., Sr. Unsecured, FRN, 1.51%, 5/22/18^D		30,000		30,094
DIVERSIFIED FINANCIAL SERVICES – 1.1%
Bank of America Corp., Sr. Unsecured, 2.00%, 1/11/18		50,000		50,182
Bank of America Corp., Sr. Unsecured, MTN, 3.25%, 10/21/27		20,000		18,855
Citigroup, Inc., Sr. Unsecured, 6.00%, 8/15/17		100,000		102,407
Citigroup, Inc., Sr. Unsecured, 1.70%, 4/27/18		35,000		34,969
FMR LLC, Sr. Unsecured, 6.45%, 11/15/39^W		100,000		123,177
HSBC USA, Inc., Sr. Unsecured, 2.63%, 9/24/18		40,000		40,445
US Bancorp, V, Sr. Unsecured, 2.63%, 1/24/22		45,000		45,126
Wells Fargo & Co., Subordinated, MTN, 4.40%, 6/14/46		40,000		38,677
Wells Fargo & Co., Series M, Subordinated, 3.45%, 2/13/23		35,000		35,362

TOTAL DIVERSIFIED FINANCIAL SERVICES			$	489,200
ELECTRIC – 0.4%
Appalachian Power Co., Sr. Unsecured, 5.00%, 6/01/17		35,000		35,391
DTE Energy Co., Sr. Unsecured, 3.85%, 12/01/23		10,000		10,379
Entergy Corp., Sr. Unsecured, 5.13%, 9/15/20		90,000		97,286
Pacific Gas & Electric Co., Sr. Unsecured, 3.75%, 2/15/24		20,000		20,885

TOTAL ELECTRIC			$	163,941
ENVIRONMENTAL CONTROL – 0.1%
Waste Management, Inc., Company Guaranteed, 3.50%, 5/15/24		35,000		36,331
Waste Management, Inc., Company Guaranteed, 4.10%, 3/01/45		25,000		24,973

TOTAL ENVIRONMENTAL CONTROL			$	61,304


Description	Par Value		Value
FOREST PRODUCTS & PAPER – 0.1%
International Paper Co., Sr. Unsecured, 4.75%, 2/15/22	$	35,000	$	37,984
HEALTH CARE EQUIPMENT & SUPPLIES – 0.2%
Abbott Laboratories, Sr. Unsecured, 2.35%, 11/22/19		20,000		20,081
Thermo Fisher Scientific, Inc., Sr. Unsecured, 3.30%, 2/15/22		20,000		20,404
Zimmer Biomet Holdings, Inc., Sr. Unsecured, 3.15%, 4/01/22		35,000		34,989

TOTAL HEALTH CARE EQUIPMENT & SUPPLIES			$	75,474
HEALTH CARE PROVIDERS & SERVICES – 0.1%
Aetna, Inc., Sr. Unsecured, 4.38%, 6/15/46		20,000		20,094
UnitedHealth Group, Inc., Sr. Unsecured, 2.75%, 2/15/23		25,000		24,856

TOTAL HEALTH CARE PROVIDERS & SERVICES			$	44,950
HOME FURNISHINGS – 0.2%
Whirlpool Corp., Sr. Unsecured, 4.50%, 6/01/46^#		25,000		24,534
Whirlpool Corp., Sr. Unsecured, 4.70%, 6/01/22		65,000		70,848
Whirlpool Corp., Sr. Unsecured, MTN, 5.15%, 3/01/43		10,000		10,678

TOTAL HOME FURNISHINGS			$	106,060
HOUSEHOLD PRODUCTS – 0.2%
Tupperware Brands Corp., Company Guaranteed, 4.75%, 6/01/21^#		60,000		64,542
INSURANCE – 0.5%
Aon PLC, Company Guaranteed, 4.00%, 11/27/23		40,000		41,567
CNA Financial Corp., Sr. Unsecured, 3.95%, 5/15/24		35,000		35,438
Lincoln National Corp., Sr. Unsecured, 3.63%, 12/12/26		25,000		24,794
WR Berkley Corp., Sr. Unsecured, 4.63%, 3/15/22		60,000		64,504
WR Berkley Corp., Sr. Unsecured, 4.75%, 8/01/44		45,000		44,011

TOTAL INSURANCE			$	210,314
MEDIA – 0.1%
CBS Corp., Company Guaranteed, 4.60%, 1/15/45		25,000		24,136
Time Warner, Inc., Company Guaranteed, 4.85%, 7/15/45		25,000		24,559
Walt Disney Co. (The), Sr. Unsecured, GMTN, 4.13%, 6/01/44		10,000		10,246

TOTAL MEDIA			$	58,941
METALS & MINING – 0.1%
Rio Tinto Finance USA Ltd., Company Guaranteed, 9.00%, 5/01/19		24,000		27,634


Description	Par Value		Value
MISCELLANEOUS MANUFACTURING – 0.3%
General Electric Co., Sr. Unsecured, MTN, 2.30%, 4/27/17^#	$	70,000	$	70,178
Illinois Tool Works, Inc., Sr. Unsecured, 3.50%, 3/01/24		45,000		47,020
Textron, Inc., Sr. Unsecured, 3.65%, 3/01/21^#		20,000		20,514

TOTAL MISCELLANEOUS MANUFACTURING			$	137,712
OIL & GAS – 0.4%
BP Capital Markets PLC, Company Guaranteed, 2.50%, 11/06/22		50,000		48,920
Exxon Mobil Corp., Sr. Unsecured, 1.82%, 3/15/19		30,000		30,283
Marathon Petroleum Corp., Sr. Unsecured, 3.63%, 9/15/24		20,000		19,687
Phillips 66, Company Guaranteed, 4.30%, 4/01/22		20,000		21,580
Shell International Finance BV, Company Guaranteed, 3.25%, 5/11/25		25,000		24,936
Valero Energy Corp., Sr. Unsecured, 4.90%, 3/15/45		10,000		9,942

TOTAL OIL & GAS			$	155,348
PHARMACEUTICALS – 0.2%
AbbVie, Inc., Sr. Unsecured, 2.50%, 5/14/20		30,000		30,182
AbbVie, Inc., Sr. Unsecured, 4.40%, 11/06/42		20,000		18,833
Medco Health Solutions, Inc., Company Guaranteed, 4.13%, 9/15/20		20,000		20,971

TOTAL PHARMACEUTICALS			$	69,986
PIPELINES – 0.4%
Energy Transfer Partners LP, Sr. Unsecured, 3.60%, 2/01/23		35,000		35,079
Energy Transfer Partners LP, Sr. Unsecured, 4.20%, 4/15/27		40,000		39,743
Kinder Morgan Energy Partners LP, Company Guaranteed, 2.65%, 2/01/19		35,000		35,286
ONEOK Partners LP, Company Guaranteed, 6.20%, 9/15/43		45,000		51,899
Spectra Energy Partners LP, Sr. Unsecured, 4.50%, 3/15/45		25,000		24,011

TOTAL PIPELINES			$	186,018
REAL ESTATE INVESTMENT TRUSTS – 0.8%
American Tower Corp., Sr. Unsecured, 5.00%, 2/15/24		15,000		16,134
Digital Realty Trust LP, Company Guaranteed, 5.88%, 2/01/20		100,000		109,356
HCP, Inc., Sr. Unsecured, 4.20%, 3/01/24		15,000		15,429


Description	Par Value		Value
Health Care REIT, Inc., Sr. Unsecured, 4.70%, 9/15/17	$	100,000	$	101,907
Healthcare Realty Trust, Inc., Sr. Unsecured, 3.75%, 4/15/23		40,000		39,963
Healthcare Realty Trust, Inc., Sr. Unsecured, 3.88%, 5/01/25		15,000		14,759
Prologis LP, Company Guaranteed, 3.35%, 2/01/21		35,000		36,062

TOTAL REAL ESTATE INVESTMENT TRUSTS			$	333,610
SEMICONDUCTORS – 0.1%
Intel Corp., Sr. Unsecured, 2.70%, 12/15/22		35,000		35,253
TELECOMMUNICATIONS – 0.3%
AT&T, Inc., Sr. Unsecured, 1.40%, 12/01/17		35,000		34,976
AT&T, Inc., Sr. Unsecured, 2.45%, 6/30/20		35,000		34,731
AT&T, Inc., Sr. Unsecured, 4.50%, 5/15/35		15,000		14,148
AT&T, Inc., FRN, Sr. Unsecured, 1.85%, 11/27/18^D		55,000		55,459

TOTAL TELECOMMUNICATIONS			$	139,314
TRANSPORTATION – 0.2%
FedEx Corp., Company Guaranteed, 3.88%, 8/01/42		30,000		27,359
FedEx Corp., Company Guaranteed, 4.10%, 2/01/45		15,000		14,104
Ryder System, Inc., Sr. Unsecured, MTN, 2.50%, 3/01/18		55,000		55,427

TOTAL TRANSPORTATION			$	96,890
TRUCKING & LEASING – 0.0%**
GATX Corp., Sr. Unsecured, 5.20%, 3/15/44		20,000		20,302

TOTAL CORPORATE BONDS (COST $2,860,275)			$	2,928,238
ENHANCED EQUIPMENT TRUST CERTIFICATES – 0.3%
AIRLINES – 0.3%
Continental Airlines 2009-2, Series A, Pass-Through Certificates, 7.25%, 11/10/19		53,730		59,707
Delta Air Lines, 2007-1, Series A, Pass-Through Certificates, 6.82%, 8/10/22		42,192		48,468

TOTAL AIRLINES			$	108,175

TOTAL ENHANCED EQUIPMENT TRUST CERTIFICATES (COST $95,173)			$	108,175
MORTGAGE-BACKED SECURITIES – 4.3%
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) –2.5%
Pool A15865, 5.50%, 11/01/33		43,328		48,238


Description	Par Value		Value
Pool A19412, 5.00%, 3/01/34	$	121,747	$	134,656
Pool C00478, 8.50%, 9/01/26		1,702		1,993
Pool C03517, 4.50%, 9/01/40		30,957		33,389
Pool C03849, 3.50%, 4/01/42		50,823		52,023
Pool C04305, 3.00%, 11/01/42		179,361		177,496
Pool C09020, 3.50%, 11/01/42		159,467		163,964
Pool G05774, 5.00%, 1/01/40		233,617		255,821
Pool G07889, 3.50%, 8/01/43		38,170		39,013
Pool G60038, 3.50%, 1/01/44		126,668		129,578
Pool Q23891, 4.00%, 12/01/43		48,010		50,468

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	1,086,639
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 1.7%
Pool 326445, 0.88%, 5/21/18		165,000		164,665
Pool 533246, 7.50%, 4/01/30		4,370		4,513
Pool 580676, 1.63%, 11/27/18		165,000		166,254
Pool AB4089, 3.00%, 12/01/26		32,627		33,530
Pool AJ4050, 4.00%, 10/01/41		94,195		99,384
Pool AL6325, 3.00%, 10/01/44		69,757		69,246
Pool AS0302, 3.00%, 8/01/43		75,696		75,140
Pool AT7899, 3.50%, 7/01/43		73,654		75,377
Pool AX5302, 4.00%, 1/01/42		29,665		31,304

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	719,413
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) – 0.1%
Pool 354677, 7.50%, 10/15/23		13,903		16,273
Pool 354765, 7.00%, 2/15/24		18,071		21,529
Pool 354827, 7.00%, 5/15/24		14,732		16,100

TOTAL GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA)			$	53,902

TOTAL MORTGAGE-BACKED SECURITIES (COST $1,851,853)			$	1,859,954
U.S. TREASURY – 7.3%
U.S. TREASURY BONDS – 1.3%
2.50%, 2/15/46		65,000		57,895
3.00%, 11/15/44		53,000		52,474
3.00%, 11/15/45		8,000		7,907
3.13%, 8/15/44		11,000		11,162
3.38%, 5/15/44		139,000		147,764
3.63%, 2/15/44		87,000		96,591
4.38%, 5/15/40		120,000		148,379
4.75%, 2/15/37		21,000		27,318

TOTAL U.S. TREASURY BONDS			$	549,490
U.S. TREASURY NOTES – 6.0%
0.63%, 9/30/17		40,000		39,976
0.88%, 10/15/17		360,000		360,294
1.13%, 2/28/21		250,000		243,618


Description	Par Value		Value
1.50%, 12/31/18	$	87,000	$	87,511
1.50%, 3/31/19		100,000		100,477
1.50%, 11/30/19		40,000		40,067
1.50%, 8/15/26		90,000		82,762
1.63%, 11/15/22		96,000		93,583
1.63%, 5/15/26		195,000		181,785
2.00%, 10/31/21		165,000		165,690
2.00%, 2/15/25		115,000		111,948
2.00%, 8/15/25		35,000		33,902
2.13%, 11/30/23		215,000		213,690
2.13%, 8/31/20		115,000		116,938
2.13%, 6/30/22		175,000		175,952
2.13%, 5/15/25		140,000		137,270
2.25%, 11/15/24		80,000		79,489
2.25%, 11/15/25		5,000		4,932
2.38%, 8/15/24		140,000		140,680
3.50%, 5/15/20		100,000		106,137
4.50%, 5/15/17		100,000		101,111

TOTAL U.S. TREASURY NOTES			$	2,617,812

TOTAL U.S. TREASURY (COST $3,164,749)			$	3,167,302


	Number of Shares
MONEY MARKET FUND – 1.4%
Dreyfus Government Cash Management Fund, Institutional Shares, 0.47%^{^}		615,716	$	615,716

TOTAL MONEY MARKET FUND (COST $615,716)			$	615,716

TOTAL INVESTMENTS IN SECURITIES – 100.2% (COST $39,865,192)			$	43,347,170


	Par Value
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 4.5%
REPURCHASE AGREEMENTS – 4.5%
Citigroup Global Markets, Inc., 0.56%, dated 1/31/17, due 2/01/17, repurchase price $363,538, collateralized by U.S. Government & Treasury Securities 0.88% to 11.5%, maturing 2/01/17 to 6/01/52; total market value of $370,803.	$	363,532	$	363,532


Description	Par Value		Value
Daiwa Capital Markets America, 0.58%, dated 1/31/17, due 2/01/17, repurchase price $363,538, collateralized by U.S. Government & Treasury Securities 0.00% to 8.88%, maturing 2/16/17 to 9/09/49; total market value of $370,803.	$	363,532	$	363,532
HSBC Securities USA, Inc., 0.52%, dated 1/31/17, due 2/01/17, repurchase price $144,647, collateralized by U.S. Treasury Securities 0.63% to 6.25%, maturing 6/30/17 to 2/15/46; total market value of $147,538.		144,645		144,645
Merrill Lynch, Pierce, Fenner & Smith, Inc., 0.55%, dated 1/31/17, due 2/01/17, repurchase price $363,537, collateralized by U.S. Government Securities 2.32% to 8.50%, maturing 12/15/25 to 12/20/66; total market value of $370,803.		363,532		363,532
Nomura Securities International, Inc., 0.55%, dated 1/31/17, due 2/01/17, repurchase price $363,537, collateralized by U.S. Government Securities 0.00% to 7.13%, maturing 2/10/17 to 12/20/66; total market value of $370,803.		363,532		363,532


Description	Par Value		Value
RBC Dominion Securities, Inc., 0.56% dated 1/31/17 due 2/01/17 repurchase price $363,538, collateralized by U.S. Government & Treasury Securities 3.00% to 7.00%, maturing 3/01/37 to 1/01/47; total market value of $370,802.	$	363,532	$	363,532

TOTAL REPURCHASE AGREEMENTS			$	1,962,305

TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $1,962,305)			$	1,962,305

TOTAL INVESTMENTS – 104.7% (COST $41,827,497)			$	45,309,475
COLLATERAL FOR SECURITIES ON LOAN – (4.5%)				(1,962,305	)
OTHER LIABILITIES LESS ASSETS – (0.2%)				(60,408	)

TOTAL NET ASSETS – 100.0%			$	43,286,762

Cost of investments for Federal income tax purposes is 42,465,158. The net unrealized appreciation/(depreciation) of investments was 2,844,317. This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of 3,966,550 and net unrealized depreciation from investments for those securities having an excess of cost over value of 1,122,233.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2017 in valuing the Fund’s assets carried at fair value:


Description	Number of Shares		Value
INVESTMENT COMPANIES – 98.3%
ALTERNATIVE INVESTMENT FUNDS – 6.9%
AQR Managed Futures Strategy Fund, Class I		189,193	$	1,776,519
EQUITY FUNDS – 66.4%
Diamond Hill Large Cap Fund, Class Y		52,421		1,245,531
Federated International Strategic Value Dividend Fund, Class I		294,895		1,026,236
Janus Enterprise Fund, Class I		11,126		1,100,202
LSV Value Equity Fund, Class I		49,370		1,294,482
Morgan Stanley Institutional Fund, Inc. - Growth Portfolio, Class I		28,205		1,093,239
T Rowe Price Institutional Large- Cap Growth Fund, Class I		34,556		1,064,340
Touchstone Small Cap Growth Fund, Class Y		97,486		574,190
Victory Integrity Small-Cap Value Fund, Class Y		16,654		641,840
Wilmington Large-Cap Strategy Fund, Class I^§		139,496		2,621,131
Wilmington Multi-Manager International Fund, Class I^§		886,961		6,421,599

TOTAL EQUITY FUNDS			$	17,082,790


Description	Number of Shares		Value
EXCHANGE-TRADED FUNDS – 25.0%
iShares Cohen & Steers REIT ETF		1,230	$	122,164
iShares Core MSCI Emerging Markets ETF		40,850		1,848,054
iShares Russell Mid-Cap Value ETF		14,165		1,158,130
iShares TIPS ETF		4,800		548,064
SPDR Dow Jones International Real Estate ETF		6,510		240,284
Vanguard Small-Cap ETF		19,300		2,526,949

TOTAL EXCHANGE-TRADED FUNDS			$	6,443,645

TOTAL INVESTMENT COMPANIES (COST $21,511,901)			$	25,302,954
MONEY MARKET FUND – 1.7%
Dreyfus Government Cash Management Fund, Institutional Shares, 0.47%^{^}		445,807		445,807
TOTAL MONEY MARKET FUND (COST $445,807)			$	445,807

TOTAL INVESTMENTS – 100.0% (COST $21,957,708)			$	25,748,761
OTHER LIABILITIES LESS ASSETS – 0.0%**				(4,116	)

TOTAL NET ASSETS – 100.0%			$	25,744,645

Cost of investments for Federal income tax purposes is $25,594,557. The net unrealized appreciation/(depreciation) of investments was $154,204. This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $4,053,812 and net unrealized depreciation from investments for those securities having an excess of cost over value of $3,899,608.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2017 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
ASSET-BACKED SECURITY – 0.1%
FINANCIAL SERVICES – 0.1%
LA Arena Funding LLC, Series 1999-1, Class A, 7.66%, 12/15/26^W	$	477,587	$	505,974

TOTAL ASSET-BACKED SECURITY (COST $477,587)			$	505,974
COLLATERALIZED MORTGAGE OBLIGATIONS – 0.9%
COMMERCIAL MORTGAGE-BACKED SECURITIES (CMBS) – 0.0%**
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2007-CIBC18, Class A4, 5.44%, 6/12/47		12,082		12,094
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 0.3%
Pool Q33547, 3.50%, 5/01/45		1,282,583		1,312,774
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 0.4%
Series 1988-23, Class C, 9.75%, 9/25/18		631		661
Series 2005-29, Class WC, 4.75%, 4/25/35		33,126		35,798
Series 2012-114, Class VM, 3.50%, 10/25/25		1,928,013		2,014,091

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	2,050,550
WHOLE LOAN – 0.2%
Banc of America Mortgage Securities, Inc., Series 2004-A, Class 2A1, 3.34%, 2/25/34^D		136,085		136,869
Countrywide Home Loan Mortgage Pass-Through Trust, Series 2004-8, Class 2A1, 4.50%, 6/25/19		164,909		165,993
IndyMac INDA Mortgage Loan Trust, Series 2005-AR1, Class 2A1, 3.40%, 11/25/35^D		278,008		263,499
WaMu Mortgage Pass-Through Certificates, Series 2004-CB1, Class 1A, 5.25%, 6/25/19		304,729		309,767

TOTAL WHOLE LOAN			$	876,128

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (COST $4,393,290)			$	4,251,546
COMMERCIAL PAPER – 2.8%◆
COMMERCIAL PAPER – 2.8%
Canadian National Resources, 0.97%, 2/01/17		3,000,000		2,999,921
Cardinal Health, Inc., 0.87%, 2/01/17		3,000,000		2,999,929
Kroger Co., 0.87%, 2/01/17		3,000,000		2,999,929


Description	Par Value		Value
Sysco Corp., 0.92%, 2/01/17	$	4,550,000	$	4,549,886

TOTAL COMMERCIAL PAPER			$	13,549,665

TOTAL COMMERCIAL PAPER (COST $13,550,000)			$	13,549,665
CORPORATE BONDS – 45.6%
AEROSPACE & DEFENSE – 0.8%
L-3 Communications Corp., Company Guaranteed, 4.75%, 7/15/20		1,000,000		1,065,497
Lockheed Martin Corp., Sr. Unsecured, 1.85%, 11/23/18		2,000,000		2,006,734
Lockheed Martin Corp., Sr. Unsecured, 4.70%, 5/15/46		975,000		1,046,962

TOTAL AEROSPACE & DEFENSE			$	4,119,193
AUTOMOTIVE – 2.1%
Daimler Finance North America LLC, Company Guaranteed, 2.30%, 1/06/20^W		2,000,000		2,005,110
Daimler Finance North America LLC, Company Guaranteed, 3.88%, 9/15/21^W		250,000		261,848
Ford Motor Credit Co. LLC, Sr. Unsecured, 3.00%, 6/12/17		1,200,000		1,206,861
Ford Motor Credit Co. LLC, Sr. Unsecured, 6.63%, 8/15/17		250,000		256,790
Ford Motor Credit Co. LLC, Sr. Unsecured, 2.15%, 1/09/18		650,000		652,232
Ford Motor Credit Co. LLC, Sr. Unsecured, 5.75%, 2/01/21		500,000		552,004
Ford Motor Credit Co. LLC, Sr. Unsecured, 4.25%, 9/20/22		450,000		466,760
General Motors Co., Sr. Unsecured, 6.25%, 10/02/43		2,000,000		2,218,460
General Motors Financial Co., Inc., Company Guaranteed, 4.75%, 8/15/17		300,000		305,228
General Motors Financial Co., Inc., Company Guaranteed, 2.40%, 5/09/19		1,430,000		1,426,860
General Motors Financial Co., Inc., Company Guaranteed, 2.35%, 10/04/19		1,000,000		991,043

TOTAL AUTOMOTIVE			$	10,343,196
BEVERAGES – 0.8%
Anheuser-Busch InBev Finance, Inc., Company Guaranteed, 4.90%, 2/01/46		1,125,000		1,209,393
Dr. Pepper Snapple Group, Inc., Company Guaranteed, 2.60%, 1/15/19		1,900,000		1,927,912
Dr. Pepper Snapple Group, Inc., Company Guaranteed, 2.53%, 11/15/21		1,000,000		993,916

TOTAL BEVERAGES			$	4,131,221


Description	Par Value		Value
BIOTECHNOLOGY – 1.5%
Amgen, Inc., Sr. Unsecured, 2.13%, 5/01/20	$	2,000,000	$	1,996,124
Amgen, Inc., Sr. Unsecured, 4.40%, 5/01/45		2,130,000		2,022,102
Celgene Corp., Sr. Unsecured, 2.25%, 5/15/19		1,500,000		1,504,322
Celgene Corp., Sr. Unsecured, 4.63%, 5/15/44		1,390,000		1,366,341
Gilead Sciences, Inc., Sr. Unsecured, 4.60%, 9/01/35		650,000		677,607

TOTAL BIOTECHNOLOGY			$	7,566,496
BUILDING PRODUCTS – 0.0%**
Johnson Controls International PLC, Sr. Unsecured, 4.63%, 7/02/44		100,000		99,576
CAPITAL MARKETS – 1.5%
Bank of New York Mellon Corp. (The), Subordinated, MTN, 3.00%, 10/30/28		775,000		737,478
BlackRock, Inc., Series 2, Sr. Unsecured, 5.00%, 12/10/19		250,000		271,730
Charles Schwab Corp. (The), Sr. Unsecured, 2.20%, 7/25/18		1,370,000		1,380,718
Charles Schwab Corp. (The), Sr. Unsecured, 4.45%, 7/22/20		250,000		268,414
Goldman Sachs Group, Inc. (The), Sr. Unsecured, 2.04%, 4/23/20^D		425,000		430,509
Goldman Sachs Group, Inc. (The), Sr. Unsecured, 2.05%, 9/15/20^D		1,425,000		1,438,422
Goldman Sachs Group, Inc. (The), Sr. Unsecured, 3.00%, 4/26/22		915,000		910,004
Morgan Stanley, Sr. Unsecured, MTN, 3.13%, 7/27/26		340,000		322,225
Morgan Stanley, Subordinated, GMTN, 4.35%, 9/08/26		505,000		515,272
TD Ameritrade Holding Corp., Sr. Unsecured, 2.95%, 4/01/22		847,000		856,122

TOTAL CAPITAL MARKETS			$	7,130,894
COMMERCIAL BANKS – 4.3%
BB&T Corp., Sr. Unsecured, MTN, 2.45%, 1/15/20		1,640,000		1,656,247
Branch Banking & Trust Co., Subordinated, 3.80%, 10/30/26		1,000,000		1,031,121
Commonwealth Bank of Australia, Sr. Unsecured, 1.35%, 3/12/18^D,Ώ		1,000,000		1,001,298
Fifth Third Bancorp, Sr. Unsecured, 3.50%, 3/15/22		1,250,000		1,287,837
Fifth Third Bancorp, Subordinated, 4.30%, 1/16/24		530,000		550,939
Fifth Third Bank, Sr. Unsecured, 1.35%, 6/01/17		1,000,000		1,000,332
KeyBank NA, Sr. Unsecured, 1.70%, 6/01/18		2,500,000		2,502,540


Description	Par Value		Value
KeyCorp, Sr. Unsecured, MTN, 2.90%, 9/15/20	$	750,000	$	760,777
PNC Bank NA, Sr. Unsecured, MTN, 2.40%, 10/18/19		1,500,000		1,514,462
PNC Bank NA, Subordinated Note, BKNT, 2.95%, 1/30/23		350,000		348,868
PNC Financial Services Group, Inc. (The), Subordinated, 3.90%, 4/29/24		1,500,000		1,543,707
SunTrust Banks, Inc., Sr. Unsecured, 2.50%, 5/01/19		2,000,000		2,017,778
SunTrust Banks, Inc., Sr. Unsecured, 2.90%, 3/03/21		1,475,000		1,492,909
Toronto-Dominion Bank (The), Sr. Unsecured, GMTN, 1.75%, 7/23/18		2,500,000		2,506,043
US Bank NA/Cincinnati OH, Sr. Unsecured, BKNT, 2.13%, 10/28/19		2,000,000		2,013,955

TOTAL COMMERCIAL BANKS			$	21,228,813
COMMERCIAL FINANCE – 0.1%
General Electric Co., Subordinated Note, 5.30%, 2/11/21		250,000		276,885
COMMERCIAL SERVICES & SUPPLIES – 0.4%
Total System Services, Inc., Sr. Unsecured, 2.38%, 6/01/18		1,900,000		1,909,345
COMPUTERS – 0.7%
Apple, Inc., Sr. Unsecured, 1.05%, 5/05/17		1,580,000		1,581,036
Hewlett Packard Enterprise Co., Sr. Unsecured, 2.45%, 10/05/17		2,000,000		2,013,598

TOTAL COMPUTERS			$	3,594,634
CONSUMER FINANCE – 0.9%
American Express Co., Sr. Unsecured, 1.51%, 5/22/18^D		655,000		657,042
American Express Credit Corp., Sr. Unsecured, MTN, 1.70%, 10/30/19		800,000		793,476
Capital One Financial Corp., Sr. Unsecured, 2.45%, 4/24/19		750,000		756,126
Capital One NA, Sr. Unsecured, 2.35%, 1/31/20		1,000,000		1,000,028
Capital One NA, Sr. Unsecured, BKNT, 1.65%, 2/05/18		680,000		679,920
John Deere Capital Corp., Sr. Unsecured, MTN, 1.40%, 3/15/17		250,000		250,136

TOTAL CONSUMER FINANCE			$	4,136,728
DIVERSIFIED FINANCIAL SERVICES – 3.9%
Bank of America Corp., Sr. Unsecured, 2.00%, 1/11/18		1,275,000		1,279,647
Bank of America Corp., Sr. Unsecured, MTN, 2.07%, 3/22/18^D		1,500,000		1,513,006
Bank of America Corp., Sr. Unsecured, MTN, 3.25%, 10/21/27		1,095,000		1,032,335


Description	Par Value		Value
Bank of America Corp., Subordinated, MTN, 4.25%, 10/22/26	$	1,000,000	$	1,006,586
Berkshire Hathaway Finance Corp., Company Guaranteed, 4.30%, 5/15/43		425,000		443,393
Citigroup, Inc., Sr. Unsecured, 1.70%, 4/27/18		1,685,000		1,683,514
Citigroup, Inc., Sr. Unsecured, 6.13%, 5/15/18		275,000		289,826
Citigroup, Inc., Subordinated, 4.13%, 7/25/28		1,150,000		1,130,248
FMR LLC, Sr. Unsecured, 6.45%, 11/15/39^W		1,000,000		1,231,774
JPMorgan Chase & Co., Sr. Unsecured, 6.00%, 1/15/18		150,000		156,216
JPMorgan Chase & Co., Sr. Unsecured, 1.70%, 3/01/18		1,600,000		1,601,495
JPMorgan Chase & Co., Sr. Unsecured, 4.63%, 5/10/21		100,000		107,964
JPMorgan Chase & Co., Sr. Unsecured, MTN, 2.30%, 8/15/21		700,000		686,965
JPMorgan Chase Capital XXIII, Limited Guarantee, 1.91%, 5/15/47^D		1,000,000		857,500
US Bancorp, Subordinated, MTN, 2.95%, 7/15/22		2,000,000		2,019,150
Wells Fargo & Co., Sr. Unsecured, 2.10%, 7/26/21		2,000,000		1,944,354
Wells Fargo & Co., Subordinated, MTN, 4.40%, 6/14/46		2,075,000		2,006,350

TOTAL DIVERSIFIED FINANCIAL SERVICES			$	18,990,323
ELECTRIC – 3.0%
Appalachian Power Co., Series K, Sr. Unsecured, 5.00%, 6/01/17		1,500,000		1,516,738
Baltimore Gas & Electric Co., Sr. Unsecured, 3.50%, 8/15/46		1,550,000		1,419,824
Commonwealth Edison Co., 1st Mortgage, 3.80%, 10/01/42		1,000,000		971,756
Consolidated Edison, Inc., Sr. Unsecured, 2.00%, 5/15/21		750,000		735,258
Dominion Resources, Inc., Sr. Unsecured, 1.25%, 3/15/17		960,000		960,102
Dominion Resources, Inc., Sr. Unsecured, 2.50%, 12/01/19		1,500,000		1,521,351
DTE Energy Co., Sr. Unsecured, 3.85%, 12/01/23		305,000		316,565
Entergy Arkansas, Inc., 1st Mortgage, 4.95%, 12/15/44		1,000,000		1,017,783
Entergy Corp., Sr. Unsecured, 5.13%, 9/15/20		1,300,000		1,405,249
Exelon Generation Co. LLC, Sr. Unsecured, 6.20%, 10/01/17		650,000		669,382
FirstEnergy Corp., Series A, Sr. Unsecured, 2.75%, 3/15/18		1,285,000		1,294,731


Description	Par Value		Value
FirstEnergy Transmission LLC, Sr. Unsecured, 4.35%, 1/15/25^W	$	2,250,000	$	2,326,962
System Energy Resources, Inc., 1st Mortgage, 4.10%, 4/01/23		500,000		507,156

TOTAL ELECTRIC			$	14,662,857
ELECTRONICS – 0.4%
Corning, Inc., Sr. Unsecured, 1.50%, 5/08/18		2,000,000		1,996,742
ENVIRONMENTAL CONTROL – 0.6%
Waste Management, Inc., Company Guaranteed, 3.50%, 5/15/24		1,255,000		1,302,722
Waste Management, Inc., Company Guaranteed, 4.10%, 3/01/45		1,520,000		1,518,359

TOTAL ENVIRONMENTAL CONTROL			$	2,821,081
FOOD – 1.2%
Kraft Foods Group, Inc., Company Guaranteed, 2.25%, 6/05/17		2,000,000		2,008,488
Kraft Heinz Foods Co., Company Guaranteed, 1.60%, 6/30/17		850,000		850,867
Kraft Heinz Foods Co., Company Guaranteed, 5.20%, 7/15/45		500,000		526,333
Kroger Co., Sr. Unsecured, 2.95%, 11/01/21		1,750,000		1,771,173
Kroger Co., Sr. Unsecured, 8.00%, 9/15/29		500,000		675,954

TOTAL FOOD			$	5,832,815
FOOD PRODUCTS – 0.6%
General Mills, Inc., Sr. Unsecured, 1.40%, 10/20/17		2,000,000		2,003,549
McCormick & Co., Inc., Sr. Unsecured, 5.75%, 12/15/17		500,000		519,811
McCormick & Co., Inc., Sr. Unsecured, 3.90%, 7/15/21		500,000		529,167

TOTAL FOOD PRODUCTS			$	3,052,527
FOREST PRODUCTS & PAPER – 0.7%
International Paper Co., Sr. Unsecured, 4.75%, 2/15/22		1,665,000		1,806,959
International Paper Co., Sr. Unsecured, 4.40%, 8/15/47		1,500,000		1,447,126

TOTAL FOREST PRODUCTS & PAPER			$	3,254,085
HEALTH CARE EQUIPMENT & SUPPLIES – 0.9%
Abbott Laboratories, Sr. Unsecured, 2.35%, 11/22/19		1,275,000		1,280,173
Becton Dickinson and Co., Sr. Unsecured, 1.80%, 12/15/17		518,000		519,460
Thermo Fisher Scientific, Inc., Sr. Unsecured, 3.30%, 2/15/22		1,100,000		1,122,210
Zimmer Biomet Holdings, Inc., Sr. Unsecured, 3.15%, 4/01/22		1,685,000		1,684,461

TOTAL HEALTH CARE EQUIPMENT & SUPPLIES			$	4,606,304


Description	Par Value		Value
HEALTH CARE PROVIDERS & SERVICES – 0.9%
Aetna, Inc., Sr. Unsecured, 4.38%, 6/15/46	$	1,100,000	$	1,105,150
Anthem, Inc., Sr. Unsecured, 2.30%, 7/15/18		2,500,000		2,515,148
UnitedHealth Group, Inc., Sr. Unsecured, 6.00%, 6/15/17		250,000		254,536
UnitedHealth Group, Inc., Sr. Unsecured, 1.40%, 12/15/17		450,000		450,188
UnitedHealth Group, Inc., Sr. Unsecured, 3.95%, 10/15/42		290,000		283,280

TOTAL HEALTH CARE PROVIDERS & SERVICES			$	4,608,302
HOME FURNISHINGS – 0.7%
Whirlpool Corp., Sr. Unsecured, 4.70%, 6/01/22		1,500,000		1,634,960
Whirlpool Corp., Sr. Unsecured, 4.50%, 6/01/46^#		1,320,000		1,295,380
Whirlpool Corp., Sr. Unsecured, MTN, 5.15%, 3/01/43		210,000		224,231

TOTAL HOME FURNISHINGS			$	3,154,571
HOUSEHOLD PRODUCTS – 0.1%
Kimberly-Clark Corp., Sr. Unsecured, 3.20%, 7/30/46		500,000		437,681
INSURANCE – 2.5%
Aon PLC, Sr. Unsecured, 4.00%, 11/27/23		1,450,000		1,506,814
CNA Financial Corp., Sr. Unsecured, 5.75%, 8/15/21		1,000,000		1,119,817
CNA Financial Corp., Sr. Unsecured, 3.95%, 5/15/24		950,000		961,897
Lincoln National Corp., Sr. Unsecured, 4.20%, 3/15/22		1,000,000		1,058,478
Lincoln National Corp., Sr. Unsecured, 3.63%, 12/12/26		1,380,000		1,368,612
MetLife, Inc., Series A, Sr. Unsecured, 6.82%, 8/15/18		3,000,000		3,228,407
Principal Financial Group, Inc., Company Guaranteed, 3.30%, 9/15/22		250,000		252,690
WR Berkley Corp., Sr. Unsecured, 4.63%, 3/15/22		1,000,000		1,075,073
WR Berkley Corp., Sr. Unsecured, 4.75%, 8/01/44		1,715,000		1,677,291

TOTAL INSURANCE			$	12,249,079
MEDIA – 1.6%
21st Century Fox America, Inc., Company Guaranteed, 4.75%, 11/15/46^Ώ		1,000,000		995,772
CBS Corp., Company Guaranteed, 1.95%, 7/01/17		2,000,000		2,004,417
CBS Corp., Company Guaranteed, 4.60%, 1/15/45		1,100,000		1,061,988


Description	Par Value		Value
Charter Communications Operating LLC, Sr. Secured, 3.58%, 7/23/20	$	1,500,000	$	1,537,561
Time Warner, Inc., Company Guaranteed, 4.85%, 7/15/45		1,190,000		1,168,994
Walt Disney Co. (The), Sr. Unsecured, GMTN, 4.13%, 6/01/44		565,000		578,894
Walt Disney Co. (The), Sr. Unsecured, MTN, 3.00%, 7/30/46^#		615,000		515,047

TOTAL MEDIA			$	7,862,673
METALS & MINING – 0.2%
Barrick Gold Corp., Sr. Unsecured, 5.25%, 4/01/42		1,000,000		1,042,090
MISCELLANEOUS MANUFACTURING – 0.5%
Ingersoll-Rand Luxembourg Finance SA, Company Guaranteed, 2.63%, 5/01/20		1,135,000		1,144,810
Textron, Inc., Sr. Unsecured, 3.65%, 3/01/21^#		480,000		492,325
Textron, Inc., Sr. Unsecured, 3.88%, 3/01/25		750,000		757,181

TOTAL MISCELLANEOUS MANUFACTURING			$	2,394,316
OIL & GAS – 1.8%
Chevron Corp., Sr. Unsecured, 1.72%, 6/24/18		2,000,000		2,015,850
ConocoPhillips Co., Company Guaranteed, 4.20%, 3/15/21		335,000		354,899
Exxon Mobil Corp., Sr. Unsecured, 1.82%, 3/15/19		925,000		933,734
Marathon Petroleum Corp., Sr. Unsecured, 3.63%, 9/15/24		745,000		733,327
Phillips 66, Company Guaranteed, 4.30%, 4/01/22		1,450,000		1,564,569
Schlumberger Holdings Corp., Sr. Unsecured, 3.63%, 12/21/22^Ώ		1,500,000		1,556,385
Southern Co. Gas Capital Corp., Company Guaranteed, 3.95%, 10/01/46		1,425,000		1,333,522
Valero Energy Corp., Sr. Unsecured, 4.90%, 3/15/45		563,000		559,730

TOTAL OIL & GAS			$	9,052,016
PHARMACEUTICALS – 1.8%
AbbVie, Inc., Sr. Unsecured, 2.50%, 5/14/20		1,485,000		1,493,992
AbbVie, Inc., Sr. Unsecured, 4.40%, 11/06/42		460,000		433,170
Actavis Funding SCS, Company Guaranteed, 1.30%, 6/15/17		1,500,000		1,499,836
Cardinal Health, Inc., Sr. Unsecured, 4.50%, 11/15/44		650,000		642,200
Express Scripts Holding Co., Company Guaranteed, 4.80%, 7/15/46		2,000,000		1,901,298
McKesson Corp., Sr. Unsecured, 1.29%, 3/10/17		460,000		460,126
Medco Health Solutions, Inc., Company Guaranteed, 4.13%, 9/15/20		940,000		985,615


Description	Par Value		Value
Medtronic, Inc., Sr. Unsecured, 1.50%, 3/15/18	$	700,000	$	700,697
Teva Pharmaceutical Finance Netherlands III BV, Company Guaranteed, 4.10%, 10/01/46^#		1,000,000		840,846

TOTAL PHARMACEUTICALS			$	8,957,780
PIPELINES – 2.6%
Energy Transfer Partners LP, Sr. Unsecured, 2.50%, 6/15/18		1,000,000		1,012,041
Energy Transfer Partners LP, Sr. Unsecured, 3.60%, 2/01/23		870,000		871,969
Energy Transfer Partners LP, Sr. Unsecured, 5.30%, 4/15/47		2,250,000		2,223,862
Enterprise Products Operating LLC, Company Guaranteed, 4.95%, 10/15/54		500,000		500,647
Enterprise Products Operating LLC, Series B, Company Guaranteed, 7.03%, 1/15/68^D		2,000,000		2,090,000
Kinder Morgan Energy Partners LP, Company Guaranteed, 2.65%, 2/01/19		1,965,000		1,981,033
Kinder Morgan Energy Partners LP, Sr. Unsecured, 5.40%, 9/01/44		1,000,000		1,041,631
ONEOK Partners LP, Company Guaranteed, 6.20%, 9/15/43		1,000,000		1,153,320
Spectra Energy Partners LP, Sr. Unsecured, 3.50%, 3/15/25		670,000		658,525
Spectra Energy Partners LP, Sr. Unsecured, 4.50%, 3/15/45		1,125,000		1,080,483

TOTAL PIPELINES			$	12,613,511
REAL ESTATE INVESTMENT TRUSTS – 3.4%
American Tower Corp., Sr. Unsecured, 3.40%, 2/15/19		2,000,000		2,047,482
American Tower Corp., Sr. Unsecured, 5.00%, 2/15/24		415,000		446,373
American Tower Corp., Sr. Unsecured, 3.13%, 1/15/27		1,000,000		925,918
AvalonBay Communities, Inc., Sr. Unsecured, GMTN, 3.63%, 10/01/20		1,145,000		1,191,944
Digital Realty Trust LP, Company Guaranteed, 3.40%, 10/01/20		615,000		626,735
Digital Realty Trust LP, Sr. Unsecured, 3.63%, 10/01/22		1,100,000		1,116,228
HCP, Inc., Sr. Unsecured, 4.00%, 12/01/22		2,000,000		2,066,497
HCP, Inc., Sr. Unsecured, 4.20%, 3/01/24		450,000		462,862
Health Care REIT, Inc., Sr. Unsecured, 2.25%, 3/15/18		2,000,000		2,011,007
Health Care REIT, Inc., Sr. Unsecured, 5.25%, 1/15/22		250,000		275,496
Healthcare Realty Trust, Inc., Sr. Unsecured, 3.75%, 4/15/23		695,000		694,353


Description	Par Value		Value
Healthcare Realty Trust, Inc., Sr. Unsecured, 3.88%, 5/01/25	$	915,000	$	900,283
Mack-Cali Realty LP, Sr. Unsecured, 2.50%, 12/15/17		2,215,000		2,220,819
ProLogis LP, Sr. Unsecured, 2.75%, 2/15/19		450,000		457,507
Prologis LP, Sr. Unsecured, 3.35%, 2/01/21		1,245,000		1,282,779

TOTAL REAL ESTATE INVESTMENT TRUSTS			$	16,726,283
RETAIL – 0.7%
CVS Health Corp., Sr. Unsecured, 1.90%, 7/20/18		2,000,000		2,006,926
Walgreens Boots Alliance, Inc., Sr. Unsecured, 1.75%, 5/30/18		1,400,000		1,403,108

TOTAL RETAIL			$	3,410,034
SOFTWARE – 0.8%
Microsoft Corp., Sr. Unsecured, 4.75%, 11/03/55		1,000,000		1,055,790
Oracle Corp., Sr. Unsecured, 4.30%, 7/08/34		1,730,000		1,781,159
Oracle Corp., Sr. Unsecured, 4.00%, 7/15/46		1,300,000		1,226,601

TOTAL SOFTWARE			$	4,063,550
TELECOMMUNICATIONS – 2.3%
AT&T, Inc., Sr. Unsecured, 1.40%, 12/01/17		1,731,000		1,729,821
AT&T, Inc., Sr. Unsecured, 2.38%, 11/27/18		2,000,000		2,015,093
AT&T, Inc., Sr. Unsecured, 2.45%, 6/30/20		2,115,000		2,098,771
AT&T, Inc., Sr. Unsecured, 4.50%, 5/15/35		845,000		796,983
Cisco Systems, Inc., Sr. Unsecured, 1.34%, 9/20/19^D		1,600,000		1,611,658
Verizon Communications, Inc., Sr. Unsecured, 1.76%, 6/17/19^D		1,000,000		1,009,245
Verizon Communications, Inc., Sr. Unsecured, 4.86%, 8/21/46		2,000,000		1,928,764

TOTAL TELECOMMUNICATIONS			$	11,190,335
TRANSPORTATION – 1.2%
FedEx Corp., Company Guaranteed, 4.10%, 2/01/45		685,000		644,085
Norfolk Southern Corp., Sr. Unsecured, 5.90%, 6/15/19		250,000		272,485
Ryder System, Inc., Sr. Unsecured, MTN, 2.50%, 3/01/17		500,000		500,011
Ryder System, Inc., Sr. Unsecured, MTN, 2.50%, 3/01/18		1,155,000		1,163,961
Ryder System, Inc., Sr. Unsecured, MTN, 2.45%, 9/03/19		2,450,000		2,466,544


Description	Par Value		Value
Union Pacific Corp., Sr. Unsecured, 4.38%, 11/15/65	$	1,000,000	$	999,678

TOTAL TRANSPORTATION			$	6,046,764
TRUCKING & LEASING – 0.1%
GATX Corp., Sr. Unsecured, 5.20%, 3/15/44		640,000		649,653

TOTAL CORPORATE BONDS (COST $223,296,927)			$	224,212,353
ENHANCED EQUIPMENT TRUST CERTIFICATES – 0.2%
AIRLINES – 0.2%
American Airlines 2011-1, Series A, Pass-Through Certificates, 5.25%, 1/31/21		275,259		294,011
Continental Airlines 2009-2, Series A, Pass-Through Certificates, 7.25%, 11/10/19		167,905		186,585
Delta Air Lines, 2007-1, Series A, Pass-Through Certificates, 6.82%, 8/10/22		263,701		302,926
Delta Air Lines, 2009-1, Series A, Pass-Through Certificates, 7.75%, 12/17/19		191,681		213,365

TOTAL AIRLINES			$	996,887

TOTAL ENHANCED EQUIPMENT TRUST CERTIFICATES (COST $898,546)			$	996,887
GOVERNMENT AGENCIES – 1.0%
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 0.7%
1.25%, 10/02/19		1,300,000		1,292,897
1.75%, 5/30/19^#		2,000,000		2,017,273
2.38%, 1/13/22		125,000		127,013

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	3,437,183
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 0.3%
6.25%, 5/15/29		750,000		999,976
7.25%, 5/15/30		400,000		582,055

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	1,582,031

TOTAL GOVERNMENT AGENCIES (COST $4,783,637)			$	5,019,214
MORTGAGE-BACKED SECURITIES – 22.0%
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 11.4%
Pool A13990, 4.50%, 10/01/33		42,853		46,466
Pool A93415, 4.00%, 8/01/40		1,950,098		2,057,385
Pool A93505, 4.50%, 8/01/40		1,514,232		1,632,992
Pool A93996, 4.50%, 9/01/40		1,213,269		1,308,539
Pool A97047, 4.50%, 2/01/41		1,187,124		1,280,201
Pool B17616, 5.50%, 1/01/20		53,730		53,910
Pool C00478, 8.50%, 9/01/26		15,321		17,936


Description	Par Value		Value
Pool C01272, 6.00%, 12/01/31	$	31,160	$	35,240
Pool C03750, 3.50%, 2/01/42		417,671		429,453
Pool C03849, 3.50%, 4/01/42		203,291		208,090
Pool C04305, 3.00%, 11/01/42		3,160,111		3,127,242
Pool C04444, 3.00%, 1/01/43		113,944		112,969
Pool C09020, 3.50%, 11/01/42		3,016,114		3,101,169
Pool C09029, 3.00%, 3/01/43		525,964		521,470
Pool C09044, 3.50%, 7/01/43		1,484,938		1,519,052
Pool E09010, 2.50%, 9/01/27		1,148,239		1,154,683
Pool G01625, 5.00%, 11/01/33		43,377		47,409
Pool G02296, 5.00%, 6/01/36		227,681		248,729
Pool G02390, 6.00%, 9/01/36		7,795		8,788
Pool G03703, 5.50%, 12/01/37		23,896		26,641
Pool G04776, 5.50%, 7/01/38		79,163		88,369
Pool G05317, 5.00%, 4/01/37		896,191		979,008
Pool G05500, 5.00%, 5/01/39		819,969		892,758
Pool G06222, 4.00%, 1/01/41		2,025,373		2,135,765
Pool G06956, 4.50%, 8/01/41		1,119,048		1,206,958
Pool G07266, 4.00%, 12/01/42		2,889,068		3,037,307
Pool G07624, 4.00%, 12/01/43		1,222,372		1,292,293
Pool G07680, 4.00%, 4/01/44		2,128,232		2,250,308
Pool G07889, 3.50%, 8/01/43		1,316,425		1,345,472
Pool G07943, 4.50%, 8/01/44		172,617		186,062
Pool G08097, 6.50%, 11/01/35		20,404		23,097
Pool G08534, 3.00%, 6/01/43		658,316		652,692
Pool G08595, 4.00%, 7/01/44		1,221,040		1,282,082
Pool G08607, 4.50%, 9/01/44		1,016,457		1,095,924
Pool G08705, 3.00%, 5/01/46		375,734		371,704
Pool G08708, 4.50%, 5/01/46		866,499		934,475
Pool G12709, 5.00%, 7/01/22		51,355		52,855
Pool G18497, 3.00%, 1/01/29		144,258		148,101
Pool G60038, 3.50%, 1/01/44		6,441,460		6,589,446
Pool G60384, 4.50%, 12/01/45		119,532		128,854
Pool Q08305, 3.50%, 5/01/42		1,200,309		1,233,121
Pool Q19476, 3.50%, 6/01/43		1,242,666		1,271,253
Pool Q23891, 4.00%, 12/01/43		240,050		252,338
Pool Q36970, 4.00%, 10/01/45		642,845		674,484
Pool Q39438, 4.00%, 3/01/46		5,015,716		5,264,142
Pool Q39644, 3.50%, 3/01/46		5,691,264		5,814,346

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	56,141,578
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 10.6%
Pool 254007, 6.50%, 10/01/31		17,325		19,686
Pool 254759, 4.50%, 6/01/18		20,029		20,271
Pool 254833, 4.50%, 8/01/18		3,970		4,024
Pool 256515, 6.50%, 12/01/36		20,367		23,146
Pool 256639, 5.00%, 2/01/27		16,511		18,053


Description	Par Value		Value
Pool 256752, 6.00%, 6/01/27	$	27,085	$	30,606
Pool 329794, 7.00%, 2/01/26		24,869		29,739
Pool 402255, 6.50%, 12/01/27		1,502		1,551
Pool 629603, 5.50%, 2/01/17		47		47
Pool 638023, 6.50%, 4/01/32		56,239		62,040
Pool 642345, 6.50%, 5/01/32		53,469		61,399
Pool 651292, 6.50%, 7/01/32		70,262		74,296
Pool 686398, 6.00%, 3/01/33		158,578		176,171
Pool 695818, 5.00%, 4/01/18		21,300		21,515
Pool 745412, 5.50%, 12/01/35		29,816		33,231
Pool 888789, 5.00%, 7/01/36		335,619		366,974
Pool 890551, 4.50%, 8/01/41		110,154		118,930
Pool 975207, 5.00%, 3/01/23		80,137		82,786
Pool AB1796, 3.50%, 11/01/40		1,069,880		1,100,430
Pool AB7936, 3.00%, 2/01/43		2,008,428		1,988,717
Pool AB8997, 2.50%, 4/01/28		251,431		251,681
Pool AE0217, 4.50%, 8/01/40		187,342		202,053
Pool AE2520, 3.00%, 1/01/26		595,978		614,278
Pool AH5583, 4.50%, 2/01/41		554,662		598,836
Pool AK4523, 4.00%, 3/01/42		1,957,531		2,058,320
Pool AL0658, 4.50%, 8/01/41		640,118		691,116
Pool AL1319, 4.50%, 10/01/41		1,203,613		1,300,234
Pool AL2034, 4.50%, 4/01/42		277,722		299,790
Pool AL3761, 4.50%, 2/01/43		410,893		445,090
Pool AL5537, 4.50%, 4/01/44		525,958		567,915
Pool AL6302, 4.50%, 10/01/41		1,092,849		1,179,877
Pool AL6325, 3.00%, 10/01/44		3,535,405		3,509,496
Pool AS0302, 3.00%, 8/01/43		5,445,466		5,405,484
Pool AS3155, 4.00%, 8/01/44		135,751		142,556
Pool AS4480, 2.50%, 2/01/30		1,451,504		1,452,486
Pool AS5136, 4.00%, 6/01/45		1,025,563		1,076,524
Pool AS7462, 2.50%, 6/01/31		555,414		555,793
Pool AS7568, 4.50%, 7/01/46		372,440		401,998
Pool AT7899, 3.50%, 7/01/43		3,813,510		3,902,684
Pool AU4279, 3.00%, 9/01/43		1,055,216		1,047,481
Pool AX0833, 3.50%, 9/01/44		1,730,810		1,776,346
Pool AX5302, 4.00%, 1/01/42		1,794,636		1,893,799
Pool AZ7362, 4.00%, 11/01/45		1,540,327		1,616,932
Pool AZ9565, 3.50%, 12/01/45		2,301,727		2,353,863
Pool BC0245, 3.00%, 2/01/46		962,843		953,428
Pool BC0326, 3.50%, 12/01/45		1,821,207		1,862,955
Pool BC0830, 3.00%, 4/01/46		2,172,438		2,151,147
Pool BC9003, 3.00%, 11/01/46		1,686,645		1,670,283
Pool MA1458, 3.00%, 6/01/43		619,593		615,060
Pool TBA, 5.00%, 2/01/47		6,700,000		7,295,672

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	52,126,789


Description	Par Value		Value
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) – 0.0%**
Pool 2077, 7.00%, 9/20/25	$	8,840	$	9,980
Pool 354677, 7.50%, 10/15/23		22,113		25,883
Pool 354713, 7.50%, 12/15/23		14,995		17,551
Pool 354765, 7.00%, 2/15/24		31,667		37,726
Pool 354827, 7.00%, 5/15/24		24,553		26,832
Pool 360869, 7.50%, 5/15/24		21,690		22,386
Pool 373335, 7.50%, 5/15/22		7,979		8,229
Pool 385623, 7.00%, 5/15/24		30,848		34,599
Pool 503405, 6.50%, 4/15/29		31,343		36,170

TOTAL GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA)			$	219,356

TOTAL MORTGAGE-BACKED SECURITIES (COST $109,903,934)			$	108,487,723
U.S. TREASURY – 28.8%
U.S. TREASURY BONDS – 4.8%
2.50%, 2/15/45		2,135,000		1,908,288
2.50%, 2/15/46		1,780,000		1,585,430
2.88%, 8/15/45		300,000		289,335
3.00%, 5/15/42		500,000		497,610
3.00%, 11/15/44		2,000,000		1,980,151
3.00%, 5/15/45		2,000,000		1,977,655
3.00%, 11/15/45		765,000		756,096
3.13%, 8/15/44		6,637,000		6,734,998
3.63%, 2/15/44		2,106,000		2,338,178
3.63%, 8/15/43		881,000		978,262
3.75%, 11/15/43		365,000		414,366
5.25%, 2/15/29		500,000		639,056
5.38%, 2/15/31		600,000		799,616
6.25%, 5/15/30		500,000		707,048
6.38%, 8/15/27^#		450,000		611,562
8.88%, 2/15/19		1,130,000		1,306,303

TOTAL U.S. TREASURY BONDS			$	23,523,954
U.S. TREASURY NOTES – 24.0%
0.63%, 8/31/17		1,810,000		1,809,486
0.63%, 9/30/17		750,000		749,556
0.75%, 12/31/17		500,000		499,554
1.00%, 5/31/18		1,100,000		1,100,244
1.13%, 6/15/18		1,000,000		1,001,787
1.25%, 10/31/18		2,085,000		2,089,089
1.25%, 1/31/19		250,000		250,175
1.38%, 3/31/20		3,300,000		3,283,879
1.38%, 6/30/18		6,000,000		6,032,296
1.38%, 9/30/18		1,240,000		1,245,527
1.38%, 2/28/19		2,500,000		2,506,832



Description	Par Value		Value
1.50%, 12/31/18	$	2,486,000	$	2,500,607
1.50%, 1/31/19		9,400,000		9,453,571
1.50%, 5/31/19		535,000		537,219
1.50%, 11/30/19		1,145,000		1,146,908
1.63%, 3/31/19		820,000		826,216
1.63%, 11/30/20		1,710,000		1,704,625
1.63%, 5/31/23		12,400,000		11,994,915
1.63%, 2/15/26		3,000,000		2,802,770
1.63%, 5/15/26		4,695,000		4,376,819
1.63%, 8/15/22		6,000,000		5,869,522
1.63%, 11/15/22		1,928,000		1,879,455
1.75%, 9/30/19		5,700,000		5,751,325
1.75%, 3/31/22		5,000,000		4,945,919
1.75%, 5/15/22		380,000		375,297
1.75%, 5/15/23		2,000,000		1,950,288
1.88%, 6/30/20		5,845,000		5,901,439
2.00%, 11/15/21		1,000,000		1,003,864
2.00%, 2/15/25		4,655,000		4,531,459
2.00%, 8/15/25		295,000		285,745
2.13%, 6/30/22		6,615,000		6,650,989
2.13%, 5/15/25		2,500,000		2,451,243
2.13%, 8/15/21		3,750,000		3,791,424
2.25%, 7/31/18		500,000		509,022
2.25%, 7/31/21		6,600,000		6,711,059
2.25%, 11/15/25		230,000		226,882
2.38%, 8/15/24		6,600,000		6,632,076
2.50%, 8/15/23		200,000		203,656
2.63%, 11/15/20		500,000		516,945
3.13%, 5/15/19		750,000		780,416
3.63%, 2/15/20		750,000		797,196
4.00%, 8/15/18^#		500,000		522,695

TOTAL U.S. TREASURY NOTES			$	118,199,991

TOTAL U.S. TREASURY (COST $141,903,248)			$	141,723,945


Description	Number of Shares		Value
MONEY MARKET FUND – 0.1%
Dreyfus Government Cash Management Fund, Institutional Shares, 0.47%^{^}		667,044	$	667,044

TOTAL MONEY MARKET FUND (COST $667,044)			$	667,044

TOTAL INVESTMENTS IN SECURITIES – 101.5% (COST $499,874,213)			$	499,414,351
	Par Value
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 0.8%
REPURCHASE AGREEMENTS – 0.8%
Citigroup Global Markets, Inc., 0.56%, dated 1/31/17, due 2/01/17, repurchase price $772,312, collateralized by U.S. Government & Treasury Securities 0.88% to 11.50%, maturing 2/01/17 to 6/01/52; total market value of $787,746.	$	772,300	$	772,300
Daiwa Capital Markets America, 0.58%, dated 1/31/17, due 2/01/17, repurchase price $772,312, collateralized by U.S. Government & Treasury Securities 0.00% to 8.88%, maturing 2/16/17 to 9/09/49; total market value of $787,746.		772,300		772,300
HSBC Securities USA, Inc., 0.53%, dated 1/31/17, due 2/01/17, repurchase price $772,311, collateralized by U.S. Government Securities 2.50% to 6.00%, maturing 10/01/22 to 2/01/47; total market value of $787,746.		772,300		772,300
Merrill Lynch, Pierce, Fenner & Smith, Inc., 0.54%, dated 1/31/17, due 2/01/17, repurchase price $202,336, collateralized by U.S. Treasury Securities 0.00% to 1.25%, maturing 11/15/24 to 9/09/49; total market value of $206,380.		202,333		202,333
Nomura Securities International, Inc., 0.55%, dated 1/31/17, due 2/01/17, repurchase price $772,312, collateralized by U.S. Government Securities 0.00% to 7.13%, maturing 2/10/17 to 12/20/66; total market value of $787,746.		772,300		772,300
RBC Dominion Securities, Inc., 0.56%, dated 1/31/17, due 2/01/17, repurchase price $772,312, collateralized by U.S. Government Securities 3.00% to 7.00%, maturing 3/01/37 to 1/01/47; total market value of $787,746.		772,300		772,300

TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $4,063,833)			$	4,063,833

TOTAL INVESTMENTS – 102.3% (COST $503,938,046)			$	503,478,184
COLLATERAL FOR SECURITIES ON LOAN – (0.8%)				(4,063,833	)
OTHER LIABILITIES LESS ASSETS – (1.5%)				(7,241,621	)

TOTAL NET ASSETS – 100.0%			$	492,172,730

Cost of investments for Federal income tax purposes is $503,938,046. The net unrealized appreciation/(depreciation) of investments was $(459,862). This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $6,094,786 and net unrealized depreciation from investments for those securities having an excess of cost over value of $6,554,648.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2017 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
CORPORATE BONDS – 54.4%
AEROSPACE & DEFENSE – 1.3%
L-3 Communications Corp., Company Guaranteed, 4.75%, 7/15/20	$	750,000	$	799,123
Lockheed Martin Corp., Sr. Unsecured, 3.10%, 1/15/23		750,000		758,702
United Technologies Corp., Sr. Unsecured, 1.50%, 11/01/19		150,000		149,080

TOTAL AEROSPACE & DEFENSE			$	1,706,905
AUTO MANUFACTURERS – 0.2%
General Motors Co., Sr. Unsecured, 3.50%, 10/02/18		220,000		224,681
AUTOMOTIVE – 3.0%
Daimler Finance North America LLC, Company Guaranteed, 1.38%, 8/01/17^W		500,000		499,843
Ford Motor Credit Co. LLC, Sr. Unsecured, 2.15%, 1/09/18		750,000		752,576
Ford Motor Credit Co. LLC, Sr. Unsecured, 1.78%, 3/12/19^D		1,000,000		1,001,260
General Motors Financial Co., Inc., Company Guaranteed, 2.40%, 5/09/19		700,000		698,463
General Motors Financial Co., Inc., Company Guaranteed, 4.75%, 8/15/17		250,000		254,357
Hyundai Capital America, Sr. Unsecured, 2.00%, 3/19/18^W		250,000		250,042
Toyota Motor Credit Corp., Sr. Unsecured, MTN, 1.32%, 3/12/20^D		450,000		450,654

TOTAL AUTOMOTIVE			$	3,907,195
BEVERAGES – 1.0%
Anheuser-Busch InBev Finance, Inc., Company Guaranteed, 1.90%, 2/01/19		430,000		430,898
Anheuser-Busch InBev Finance, Inc., Company Guaranteed, 3.65%, 2/01/26		600,000		605,066
PepsiCo, Inc., Sr. Unsecured, 2.38%, 10/06/26		250,000		235,823

TOTAL BEVERAGES			$	1,271,787
BIOTECHNOLOGY – 0.5%
Amgen, Inc., Sr. Unsecured, 2.13%, 5/01/20		500,000		499,031
Amgen, Inc., Sr. Unsecured, 2.25%, 8/19/23		180,000		170,832

TOTAL BIOTECHNOLOGY			$	669,863
BUILDING PRODUCTS – 0.2%
Johnson Controls International PLC, Sr. Unsecured, 3.63%, 7/02/24		300,000		305,976


Description	Par Value		Value
CAPITAL MARKETS – 4.1%
Bank of New York Mellon Corp. (The), Sr. Unsecured, MTN, 2.80%, 5/04/26	$	300,000	$	287,275
BlackRock, Inc., Sr. Unsecured, 3.50%, 3/18/24		500,000		515,391
BlackRock, Inc., Series 2, Sr. Unsecured, 5.00%, 12/10/19		650,000		706,499
Charles Schwab Corp. (The), Sr. Unsecured, 1.50%, 3/10/18		650,000		650,516
Goldman Sachs Group, Inc. (The), Sr. Unsecured, 2.20%, 4/23/20^D		500,000		506,481
Goldman Sachs Group, Inc. (The), Sr. Unsecured, 3.00%, 4/26/22		350,000		348,089
Morgan Stanley, Sr. Unsecured, 2.50%, 1/24/19		325,000		327,962
Morgan Stanley, Sr. Unsecured, 3.63%, 1/20/27		750,000		739,419
State Street Corp., Sr. Unsecured, 2.55%, 8/18/20		225,000		228,039
State Street Corp., Sr. Unsecured, 3.70%, 11/20/23		500,000		524,520
TD Ameritrade Holding Corp., Sr. Unsecured, 2.95%, 4/01/22		450,000		454,846

TOTAL CAPITAL MARKETS			$	5,289,037
COMMERCIAL BANKS – 4.0%
Branch Banking & Trust Co., Subordinated, 3.63%, 9/16/25		500,000		509,036
Fifth Third Bancorp, Subordinated, 4.30%, 1/16/24		370,000		384,618
Huntington National Bank (The), Sr. Unsecured, 2.40%, 4/01/20		350,000		348,655
KeyBank NA, Sr. Unsecured, 1.70%, 6/01/18		500,000		500,508
KeyCorp, Sr. Unsecured, MTN, 2.90%, 9/15/20		500,000		507,185
PNC Financial Services Group, Inc. (The), Subordinated, 3.90%, 4/29/24		420,000		432,238
SunTrust Banks, Inc., Sr. Unsecured, 2.50%, 5/01/19		600,000		605,333
SunTrust Banks, Inc., Sr. Unsecured, 2.70%, 1/27/22		430,000		428,296
Toronto-Dominion Bank (The), Sr. Unsecured, MTN, 2.13%, 4/07/21		370,000		364,897
Westpac Banking Corp., Sr. Unsecured, 2.00%, 8/14/17		575,000		577,248
Westpac Banking Corp., Sr. Unsecured, 4.88%, 11/19/19		500,000		537,111

TOTAL COMMERCIAL BANKS			$	5,195,125


Description	Par Value		Value
COMMERCIAL SERVICES & SUPPLIES – 0.8%
Total System Services, Inc., Sr. Unsecured, 2.38%, 6/01/18	$	450,000	$	452,213
Total System Services, Inc., Sr. Unsecured, 3.80%, 4/01/21		525,000		542,454

TOTAL COMMERCIAL SERVICES & SUPPLIES			$	994,667
COMPUTERS – 0.6%
Hewlett Packard Enterprise Co., Sr. Unsecured, 2.45%, 10/05/17		750,000		755,099
CONSUMER FINANCE – 2.3%
American Express Co., Sr. Unsecured, 1.51%, 5/22/18^D		1,080,000		1,083,367
American Express Credit Corp., Sr. Unsecured, MTN, 1.70%, 10/30/19		260,000		257,880
Capital One Financial Corp., Sr. Unsecured, 2.45%, 4/24/19		100,000		100,817
Capital One Financial Corp., Subordinated, 4.20%, 10/29/25		345,000		346,961
Capital One NA, Sr. Unsecured, 1.72%, 9/13/19^D		550,000		552,790
Capital One NA, Sr. Unsecured, BKNT, 1.65%, 2/05/18		250,000		249,971
John Deere Capital Corp., Sr. Unsecured, MTN, 1.95%, 1/08/19		200,000		201,299
John Deere Capital Corp., Sr. Unsecured, MTN, 2.80%, 3/06/23		275,000		275,541

TOTAL CONSUMER FINANCE			$	3,068,626
DIVERSIFIED FINANCIAL SERVICES – 5.5%
American Honda Finance Corp., Sr. Unsecured, MTN, 1.20%, 7/12/19		120,000		117,957
Bank of America Corp., Sr. Unsecured, 2.00%, 1/11/18		250,000		250,911
Bank of America Corp., Sr. Unsecured, MTN, 2.63%, 10/19/20		160,000		160,099
Bank of America Corp., Sr. Unsecured, MTN, 2.50%, 10/21/22		255,000		246,626
Bank of America Corp., Sr. Unsecured, MTN, 4.13%, 1/22/24		250,000		259,725
Bank of Montreal, Sr. Unsecured, MTN, 1.50%, 7/18/19		495,000		489,427
Bank of Montreal, Sr. Unsecured, MTN, 1.90%, 8/27/21		430,000		418,412
Berkshire Hathaway, Inc., Sr. Unsecured, 2.75%, 3/15/23		175,000		175,052
Citigroup, Inc., Sr. Unsecured, 1.70%, 4/27/18		600,000		599,471
Citigroup, Inc., Sr. Unsecured, 2.45%, 1/10/20		450,000		450,672
Citigroup, Inc., Sr. Unsecured, 2.35%, 8/02/21		300,000		294,028


Description	Par Value		Value
HSBC USA, Inc., Sr. Unsecured, 2.00%, 8/07/18	$	220,000	$	220,304
JPMorgan Chase & Co., Sr. Unsecured, 6.00%, 1/15/18		250,000		260,359
JPMorgan Chase & Co., Sr. Unsecured, 1.70%, 3/01/18		500,000		500,467
JPMorgan Chase & Co., Sr. Unsecured, 2.55%, 10/29/20		500,000		501,291
National Australia Bank Ltd., Sr. Unsecured, MTN, 2.75%, 3/09/17		300,000		300,517
Royal Bank of Canada, Sr. Unsecured, GMTN, 1.40%, 10/13/17		275,000		274,985
US Bancorp, Subordinated, MTN, 3.10%, 4/27/26		800,000		781,325
Wells Fargo & Co., Sr. Unsecured, 2.10%, 7/26/21		650,000		631,915
Wells Fargo & Co., Sr. Unsecured, MTN, 2.55%, 12/07/20		200,000		200,093

TOTAL DIVERSIFIED FINANCIAL SERVICES			$	7,133,636
ELECTRIC – 6.0%
Dominion Resources, Inc., Sr. Unsecured, 1.60%, 8/15/19		400,000		395,291
Dominion Resources, Inc., Sr. Unsecured, 3.90%, 10/01/25		470,000		481,230
Duke Energy Indiana, Inc., 1st Mortgage, 3.75%, 7/15/20		670,000		704,960
Entergy Corp., Sr. Unsecured, 2.95%, 9/01/26		505,000		477,172
Entergy Texas, Inc., 1st Mortgage, 7.13%, 2/01/19		800,000		879,946
Exelon Corp., Sr. Unsecured, 2.45%, 4/15/21		825,000		817,292
Exelon Generation Co. LLC, Sr. Unsecured, 2.95%, 1/15/20		700,000		709,363
FirstEnergy Transmission LLC, Sr. Unsecured, 4.35%, 1/15/25^W		750,000		775,654
NextEra Energy Capital Holdings, Inc., Company Guaranteed, 3.63%, 6/15/23		100,000		102,450
Southern California Edison Co., Series B, 1st Mortgage, 2.40%, 2/01/22		900,000		898,055
Southern Co. (The), Sr. Unsecured, 2.35%, 7/01/21		1,250,000		1,232,614
WEC Energy Group, Inc., Sr. Unsecured, 2.45%, 6/15/20		300,000		301,289

TOTAL ELECTRIC			$	7,775,316
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 0.2%
Emerson Electric Co., Sr. Unsecured, 2.63%, 12/01/21		275,000		278,475
ENVIRONMENTAL CONTROL – 0.1%
Waste Management, Inc., Company Guaranteed, 2.40%, 5/15/23		160,000		156,457


Description	Par Value		Value
FOOD – 0.5%
Kraft Heinz Foods Co., Company Guaranteed, 2.25%, 6/05/17	$	150,000	$	150,637
Kroger Co., Sr. Unsecured, 2.30%, 1/15/19		250,000		251,955
Kroger Co., Sr. Unsecured, 2.95%, 11/01/21		250,000		253,025

TOTAL FOOD			$	655,617
FOREST PRODUCTS & PAPER – 0.4%
International Paper Co., Sr. Unsecured, 4.75%, 2/15/22		500,000		542,630
HEALTH CARE EQUIPMENT & SUPPLIES – 0.8%
Abbott Laboratories, Sr. Unsecured, 2.35%, 11/22/19		450,000		451,826
Thermo Fisher Scientific, Inc., Sr. Unsecured, 2.95%, 9/19/26		235,000		222,727
Zimmer Biomet Holdings, Inc., Sr. Unsecured, 3.15%, 4/01/22		415,000		414,867

TOTAL HEALTH CARE EQUIPMENT & SUPPLIES			$	1,089,420
HEALTH CARE PROVIDERS & SERVICES – 0.9%
Aetna, Inc., Sr. Unsecured, 1.70%, 6/07/18		175,000		175,052
Anthem, Inc., Sr. Unsecured, 2.30%, 7/15/18		1,000,000		1,006,059

TOTAL HEALTH CARE PROVIDERS & SERVICES			$	1,181,111
HOME FURNISHINGS – 0.4%
Whirlpool Corp., Sr. Unsecured, 1.65%, 11/01/17		250,000		250,235
Whirlpool Corp., Sr. Unsecured, 2.40%, 3/01/19		220,000		222,187

TOTAL HOME FURNISHINGS			$	472,422
INSURANCE – 1.7%
American International Group, Inc., Sr. Unsecured, 3.75%, 7/10/25		400,000		402,551
Aon PLC, Company Guaranteed, 2.80%, 3/15/21		240,000		240,654
Aon PLC, Company Guaranteed, 4.00%, 11/27/23		250,000		259,796
Hartford Financial Services Group, Inc., Sr. Unsecured, 5.13%, 4/15/22		360,000		400,054
MetLife, Inc., Sr. Unsecured, 3.60%, 4/10/24		750,000		771,958
Prudential Financial, Inc., Sr. Unsecured, MTN, 6.00%, 12/01/17		125,000		129,647

TOTAL INSURANCE			$	2,204,660
MEDIA – 0.8%
CBS Corp., Company Guaranteed, 3.38%, 3/01/22		350,000		357,024


Description	Par Value		Value
Charter Communications Operating LLC, Sr. Secured, 3.58%, 7/23/20	$	500,000	$	512,520
Time Warner, Inc., Company Guaranteed, 2.95%, 7/15/26		270,000		248,950

TOTAL MEDIA			$	1,118,494
MISCELLANEOUS MANUFACTURING – 1.8%
General Electric Co., Sr. Unsecured, MTN, 2.30%, 4/27/17		750,000		751,909
Ingersoll-Rand Global Holding Co. Ltd., Company Guaranteed, 4.25%, 6/15/23		330,000		351,445
Ingersoll-Rand Luxembourg Finance SA, Company Guaranteed, 2.63%, 5/01/20		250,000		252,161
Textron, Inc., Sr. Unsecured, 3.65%, 3/01/21		425,000		435,913
Textron, Inc., Sr. Unsecured, 4.30%, 3/01/24		500,000		520,534

TOTAL MISCELLANEOUS MANUFACTURING			$	2,311,962
OIL & GAS – 3.4%
BP Capital Markets PLC, Company Guaranteed, 3.12%, 5/04/26^#		250,000		242,158
ConocoPhillips Co., Company Guaranteed, 5.75%, 2/01/19		425,000		459,916
ConocoPhillips Co., Company Guaranteed, 4.20%, 3/15/21		330,000		349,602
ConocoPhillips Co., Company Guaranteed, 1.81%, 5/15/22^D		80,000		79,387
Marathon Oil Corp., Sr. Unsecured, 6.00%, 10/01/17		550,000		566,309
Marathon Petroleum Corp., Sr. Unsecured, 3.63%, 9/15/24		125,000		123,042
Phillips 66, Company Guaranteed, 4.30%, 4/01/22		400,000		431,605
Schlumberger Holdings Corp., Sr. Unsecured, 2.35%, 12/21/18^W		370,000		373,463
Sempra Energy, Sr. Unsecured, 2.30%, 4/01/17		800,000		801,235
Shell International Finance BV, Company Guaranteed, 3.25%, 5/11/25		530,000		528,651
Total Capital International SA, Company Guaranteed, 1.34%, 6/19/19^D		450,000		449,208

TOTAL OIL & GAS			$	4,404,576
PHARMACEUTICALS – 2.6%
AbbVie, Inc., Sr. Unsecured, 2.50%, 5/14/20		300,000		301,817
AbbVie, Inc., Sr. Unsecured, 3.60%, 5/14/25		750,000		741,170
Actavis Funding SCS, Company Guaranteed, 2.21%, 3/12/20^D		500,000		510,064
Cardinal Health, Inc., Sr. Unsecured, 3.20%, 3/15/23		350,000		354,735
Medco Health Solutions, Inc., Company Guaranteed, 4.13%, 9/15/20		250,000		262,132


Description	Par Value		Value
Teva Pharmaceutical Finance Netherlands III BV, Company Guaranteed, 2.20%, 7/21/21	$	850,000	$	812,079
Teva Pharmaceutical Finance Netherlands III BV, Company Guaranteed, 2.80%, 7/21/23		500,000		469,037

TOTAL PHARMACEUTICALS			$	3,451,034
PIPELINES – 2.0%
Enterprise Products Operating LLC, Company Guaranteed, 2.55%, 10/15/19		325,000		330,231
Kinder Morgan Energy Partners LP, Company Guaranteed, 2.65%, 2/01/19		650,000		655,304
Kinder Morgan, Inc., Company Guaranteed, 2.00%, 12/01/17		525,000		526,231
Spectra Energy Partners LP, Sr. Unsecured, 3.50%, 3/15/25		600,000		589,724
Valero Energy Partners LP, Sr. Unsecured, 4.38%, 12/15/26		500,000		504,715

TOTAL PIPELINES			$	2,606,205
REAL ESTATE INVESTMENT TRUSTS – 4.0%
American Tower Corp., Sr. Unsecured, 3.45%, 9/15/21		250,000		253,449
American Tower Corp., Sr. Unsecured, 5.00%, 2/15/24		505,000		543,177
Boston Properties LP, Sr. Unsecured, 2.75%, 10/01/26		400,000		365,179
Digital Realty Trust LP, Company Guaranteed, 3.40%, 10/01/20		100,000		101,908
HCP, Inc., Sr. Unsecured, 4.20%, 3/01/24		540,000		555,435
Healthcare Realty Trust, Inc., Sr. Unsecured, 3.88%, 5/01/25		550,000		541,154
Mack-Cali Realty LP, Sr. Unsecured, 2.50%, 12/15/17		250,000		250,657
Prologis LP, Company Guaranteed, 3.35%, 2/01/21		500,000		515,172
Simon Property Group LP, Sr. Unsecured, 2.15%, 9/15/17		500,000		501,899
Ventas Realty LP / Ventas Capital Corp., Company Guaranteed, 2.70%, 4/01/20		550,000		555,039
Ventas Realty LP / Ventas Capital Corp., Company Guaranteed, 4.25%, 3/01/22		250,000		264,779
Welltower, Inc., Sr. Unsecured, 2.25%, 3/15/18		450,000		452,477
Welltower, Inc., Sr. Unsecured, 4.25%, 4/01/26		330,000		341,481

TOTAL REAL ESTATE INVESTMENT TRUSTS			$	5,241,806
RETAIL – 1.3%
CVS Health Corp., Sr. Unsecured, 2.75%, 12/01/22		415,000		410,221
Home Depot, Inc. (The), Sr. Unsecured, 2.13%, 9/15/26		225,000		207,118
Walgreens Boots Alliance, Inc., Sr. Unsecured, 1.75%, 5/30/18		800,000		801,776


Description	Par Value		Value
Walgreens Boots Alliance, Inc., Sr. Unsecured, 3.30%, 11/18/21	$	225,000	$	229,537

TOTAL RETAIL			$	1,648,652
SOFTWARE – 0.8%
Microsoft Corp., Sr. Unsecured, 1.10%, 8/08/19		350,000		345,347
Microsoft Corp., Sr. Unsecured, 1.55%, 8/08/21		175,000		169,248
Oracle Corp., Sr. Unsecured, 1.90%, 9/15/21		600,000		586,315

TOTAL SOFTWARE			$	1,100,910
TELECOMMUNICATIONS – 1.9%
AT&T, Inc., Sr. Unsecured, 1.93%, 6/30/20^D		500,000		506,590
AT&T, Inc., Sr. Unsecured, 2.45%, 6/30/20		800,000		793,861
Cisco Systems, Inc., Sr. Unsecured, 2.20%, 9/20/23		295,000		284,244
Verizon Communications, Inc., Sr. Unsecured, 1.76%, 6/17/19^D		525,000		529,854
Verizon Communications, Inc., Sr. Unsecured, 4.50%, 9/15/20		300,000		320,438

TOTAL TELECOMMUNICATIONS			$	2,434,987
TRANSPORTATION – 0.6%
Norfolk Southern Corp., Sr. Unsecured, 2.90%, 6/15/26		260,000		250,731
Ryder System, Inc., Sr. Unsecured, MTN, 2.50%, 3/01/18		500,000		503,879

TOTAL TRANSPORTATION			$	754,610
TRUCKING & LEASING – 0.7%
GATX Corp., Sr. Unsecured, 2.38%, 7/30/18		625,000		627,974
GATX Corp., Sr. Unsecured, 3.25%, 9/15/26^#		280,000		265,810

TOTAL TRUCKING & LEASING			$	893,784

TOTAL CORPORATE BONDS (COST $70,662,283)			$	70,845,725
GOVERNMENT AGENCIES – 6.8%
FEDERAL HOME LOAN BANK (FHLB) – 1.8%
Series 1, 4.88%, 5/17/17^#		1,365,000		1,382,201
Series 917, 1.00%, 6/21/17		1,000,000		1,001,542

TOTAL FEDERAL HOME LOAN BANK (FHLB)			$	2,383,743

FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 3.8%
1.25%, 5/12/17		800,000		801,515
1.38%, 5/01/20^#		1,250,000		1,240,757
1.75%, 5/30/19^#		805,000		811,952


Description	Par Value		Value
2.38%, 1/13/22	$	1,850,000	$	1,879,798
3.75%, 3/27/19		250,000		262,814

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	4,996,836
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 1.2%
1.75%, 9/12/19^#		1,475,000		1,486,710

TOTAL GOVERNMENT AGENCIES (COST $8,803,233)			$	8,867,289
MORTGAGE-BACKED SECURITIES – 1.3%
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 0.3%
Pool A18401, 6.00%, 2/01/34		65,980		74,584
Pool B19228, 4.50%, 4/01/20		14,955		15,324
Pool C90293, 7.50%, 9/01/19		51,777		55,850
Pool C90504, 6.50%, 12/01/21		19,999		22,156
Pool E92817, 5.00%, 12/01/17		15,698		15,813
Pool G01625, 5.00%, 11/01/33		43,377		47,409
Pool G02390, 6.00%, 9/01/36		13,642		15,378
Pool G08097, 6.50%, 11/01/35		33,018		37,377
Pool G08193, 6.00%, 4/01/37		42,134		47,253
Pool G11311, 5.00%, 10/01/17		6,118		6,149

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	337,293
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 0.8%
Pool 254240, 7.00%, 3/01/32		54,859		64,975
Pool 254833, 4.50%, 8/01/18		5,294		5,366
Pool 256639, 5.00%, 2/01/27		33,022		36,107
Pool 256752, 6.00%, 6/01/27		33,856		38,257
Pool 257007, 6.00%, 12/01/27		57,229		64,646
Pool 612514, 2.97%, 5/01/33^D		34,668		35,902
Pool 619054, 5.50%, 2/01/17		75		75
Pool 629603, 5.50%, 2/01/17		78		78
Pool 688996, 8.00%, 11/01/24		8,490		8,816
Pool 745412, 5.50%, 12/01/35		30,055		33,497
Pool 839291, 5.00%, 9/01/20		2,500		2,568
Pool AE2520, 3.00%, 1/01/26		755,997		779,211

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	1,069,498
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) – 0.2%
Pool 2616, 7.00%, 7/20/28		46,423		55,259
Pool 2701, 6.50%, 1/20/29		84,582		95,700
Pool 426727, 7.00%, 2/15/29		6,902		7,365


Description	Par Value		Value
Pool 780825, 6.50%, 7/15/28	$	70,424	$	81,271

Pool 781231, 7.00%, 12/15/30		39,697		45,807
TOTAL GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA)			$	285,402

TOTAL MORTGAGE-BACKED SECURITIES (COST $1,577,507)			$	1,692,193
U.S. TREASURY – 35.7%
U.S. TREASURY NOTES – 35.7%
0.88%, 11/15/17		640,000		640,425
0.88%, 1/31/18		750,000		750,037
0.88%, 7/15/18		940,000		938,158
0.88%, 6/15/19		850,000		841,042
0.88%, 9/15/19^#		750,000		740,228
1.00%, 5/31/18		500,000		500,111
1.00%, 6/30/19		250,000		248,030
1.00%, 9/30/19		750,000		742,338
1.25%, 11/30/18		640,000		640,958
1.25%, 1/31/19		1,450,000		1,451,013
1.25%, 2/29/20		750,000		744,224
1.38%, 6/30/18		480,000		482,584
1.38%, 5/31/20		2,250,000		2,234,803
1.38%, 8/31/20		1,400,000		1,387,274
1.38%, 1/31/21		1,500,000		1,478,346
1.38%, 5/31/21		660,000		647,767
1.50%, 8/31/18		1,000,000		1,006,641
1.50%, 11/30/19		1,200,000		1,201,999
1.50%, 8/15/26		500,000		459,788
1.63%, 4/30/19		750,000		755,453
1.63%, 8/15/22		1,390,000		1,359,773
1.63%, 5/31/23		2,155,000		2,084,600
1.63%, 10/31/23		1,250,000		1,203,511
1.63%, 2/15/26		600,000		560,554
1.63%, 5/15/26		25,000		23,306
1.75%, 5/15/23		1,000,000		975,144
2.00%, 7/31/20		1,500,000		1,519,645
2.00%, 11/15/21		455,000		456,758
2.00%, 2/15/22		500,000		501,310
2.00%, 2/15/23		2,000,000		1,985,281
2.00%, 2/15/25		1,003,000		976,381
2.00%, 8/15/25		1,700,000		1,646,664
2.13%, 1/31/21		1,500,000		1,521,708
2.13%, 6/30/21		625,000		632,488
2.13%, 8/15/21		825,000		834,113
2.13%, 9/30/21		1,000,000		1,010,424
2.13%, 6/30/22		1,650,000		1,658,977
2.25%, 11/15/25		730,000		720,105
2.38%, 8/15/24		750,000		753,645


Description	Par Value		Value
2.50%, 8/15/23	$	1,200,000	$	1,221,934
2.50%, 5/15/24		1,000,000		1,015,168
2.63%, 8/15/20		1,000,000		1,034,194
2.75%, 11/15/23		2,000,000		2,065,944
3.13%, 5/15/21		550,000		579,535
3.63%, 2/15/20		500,000		531,464
4.00%, 8/15/18^#		1,000,000		1,045,391
4.25%, 11/15/17		500,000		513,458
4.75%, 8/15/17		150,000		153,262

TOTAL U.S. TREASURY NOTES			$	46,475,956

TOTAL U.S. TREASURY (COST $46,668,926)			$	46,475,956

	Number of Shares
MONEY MARKET FUND – 1.9%
Dreyfus Government Cash Management Fund, Institutional Shares, 0.47%^{^}		2,459,580	$	2,459,580

TOTAL MONEY MARKET FUND (COST $2,459,580)			$	2,459,580

TOTAL INVESTMENTS IN SECURITIES – 100.1% (COST $130,171,529)			$	130,340,743


Description	Par Value		Value
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 5.0%
REPURCHASE AGREEMENTS – 5.0%
BNP Paribas SA, 0.52%, dated 1/31/17, due 2/01/17, repurchase price $1,249,986, collateralized by U.S. Government Securities, 0.00% to 8.00%, maturing 6/01/17 to 2/01/47; total market value of $1,274,969.	$	1,249,968	$	1,249,968
Citigroup Global Markets, Inc., 0.56%, dated 1/31/17, due 2/01/17, repurchase price $1,249,987, collateralized by U.S. Government & Treasury Securities, 0.88% to 11.5%, maturing 2/01/17 to 6/01/52; total market value of $1,274,967.		1,249,968		1,249,968
Credit Suisse Securities (USA) LLC, 0.54%, dated 1/31/17, due 2/01/17, repurchase price $328,214, collateralized by U.S. Treasury Securities, 0.13% to 2.13%, maturing 1/15/19 to 1/15/27; total market value of $334,776.		328,209		328,209
HSBC Securities USA, Inc., 0.53%, dated 1/31/17, due 2/01/17, repurchase price $1,249,986, collateralized by U.S. Government Securities, 2.50% to 6.00%, maturing 10/01/22 to 2/01/47; total market value of $1,274,968.		1,249,968		1,249,968
Merrill Lynch, Pierce, Fenner & Smith, Inc., 0.55%, dated 1/31/17, due 2/01/17, repurchase price $1,249,987, collateralized by U.S. Government Securities, 2.32% to 8.50%, maturing 12/15/25 to 12/20/66; total market value of $1,274,967.		1,249,968		1,249,968
Mizuho Securities USA, Inc., 0.56%, dated 1/31/17, due 2/01/17, repurchase price $1,249,987, collateralized by U.S. Government Securities, 2.00% to 4.50%, maturing 7/01/24 to 1/01/47; total market value of $1,274,967.		1,249,968		1,249,968

TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $6,578,049)			$	6,578,049

TOTAL INVESTMENTS – 105.1% (COST $136,749,578)			$	136,918,792
COLLATERAL FOR SECURITIES ON LOAN – (5.0%)				(6,578,049	)
OTHER LIABILITIES LESS ASSETS – (0.1%)				(109,482	)

TOTAL NET ASSETS – 100.0%			$	130,231,261

Cost of investments for Federal income tax purposes is $136,750,475. The net unrealized appreciation/(depreciation) of investments was $168,317. This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $1,092,154 and net unrealized depreciation from investments for those securities having an excess of cost over value of $923,837.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2017 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
ADJUSTABLE RATE MORTGAGE – 0.0%**
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 0.0%**
Pool 399251, 2.69%, 9/01/27^D	$	47	$	49

TOTAL ADJUSTABLE RATE MORTGAGE (COST $47)			$	49
COLLATERALIZED MORTGAGE OBLIGATIONS – 6.0%
COMMERCIAL MORTGAGE-BACKED SECURITIES (CMBS) – 0.0%**
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2007-CIBC18, Class A4, 5.44%, 6/12/47		12,061		12,074
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 2.0%
Series 1988-6, Class C, 9.05%, 6/15/19		288		298
Series 1989-112, Class I, 6.50%, 1/15/21		662		692
Series 1990-136, Class E, 6.00%, 4/15/21		1,526		1,605
Series 1990-141, Class D, 5.00%, 5/15/21		766		792
Series 1993-1577, Class PK, 6.50%, 9/15/23		24,739		26,921
Series 1993-1644, Class K, 6.75%, 12/15/23		20,112		21,535
Series 1994-1686, Class PJ, 5.00%, 2/15/24		2,413		2,544
Series 2003-2649, Class KA, 4.50%, 7/15/18		20,398		20,739
Series 2011-3799, Class GK, 2.75%, 1/15/21		102,499		102,941
Series 2012-K710, Class A1, 1.44%, 1/25/19		1,047,888		1,048,668
Series 3893, Class DJ, 2.00%, 10/15/20		592,293		594,594

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	1,821,329
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 3.2%
Series 1993-113, Class PK, 6.50%, 7/25/23		25,239		27,565
Series 1993-127, Class H, 6.50%, 7/25/23		23,171		25,219
Series 1993-202, Class J, 6.50%, 11/25/23		13,568		14,882
Series 1994-3, Class PL, 5.50%, 1/25/24		24,939		27,235
Series 1994-55, Class H, 7.00%, 3/25/24		27,295		30,456
Series 2002-52, Class QA, 6.00%, 7/18/32		5,709		5,853
Series 2002-94, Class HQ, 4.50%, 1/25/18		120,403		121,850
Series 2003-3, Class BC, 5.00%, 2/25/18		102,016		103,646
Series 2009-70, Class NM, 3.25%, 8/25/19		301,146		305,085
Series 2011-66, Class QE, 2.00%, 7/25/21		371,646		372,190
Series 2011-71, Class DJ, 3.00%, 3/25/25		246,623		249,026


Description	Par Value		Value
Series 2011-81, Class PA, 3.50%, 8/25/26	$	1,582,102	$	1,636,985

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	2,919,992
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) – 0.0%**
Series 2005-44, Class PC, 5.00%, 12/20/33		27,054		27,142
WHOLE LOAN – 0.8%
Banc of America Mortgage Securities, Inc., Series 2004-A, Class 2A1, 3.34%, 2/25/34^D		145,875		146,716
Banc of America Mortgage Securities, Inc., Series 2004-B, Class 2A1, 3.05%, 3/25/34^D		104,275		106,568
IndyMac INDA Mortgage Loan Trust, Series 2005-AR1, Class 2A1, 3.40%, 11/25/35^D		463,347		439,165

TOTAL WHOLE LOAN			$	692,449

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (COST $5,566,523)			$	5,472,986
COMMERCIAL PAPER – 7.1%◆
COMMERCIAL PAPER – 7.1%
Canadian Natural Resources Ltd., 0.97%, 2/01/17		4,000,000		3,999,894
Entergy Corp., 1.12%, 2/03/17		500,000		499,954
Entergy Corp., 1.15%, 2/06/17		500,000		499,907
Sysco Corp., 0.92%, 2/01/17		1,450,000		1,449,964

TOTAL COMMERCIAL PAPER			$	6,449,719

TOTAL COMMERCIAL PAPER (COST $6,449,891)			$	6,449,719
CORPORATE BONDS – 70.3%
AEROSPACE & DEFENSE – 1.1%
Lockheed Martin Corp., Sr. Unsecured, 1.85%, 11/23/18		1,000,000		1,003,367
AUTOMOTIVE – 4.4%
Daimler Finance North America LLC, Company Guaranteed, 1.38%, 8/01/17^Ώ		1,000,000		999,686
Ford Motor Credit Co. LLC, Sr. Unsecured, 1.78%, 3/12/19^D		1,000,000		1,001,260
General Motors Financial Co., Inc., Company Guaranteed, 4.75%, 8/15/17		1,000,000		1,017,428
General Motors Financial Co., Inc., Company Guaranteed, 3.20%, 7/06/21		1,000,000		995,238

TOTAL AUTOMOTIVE			$	4,013,612


Description	Par Value		Value
BEVERAGES – 1.1%
Anheuser-Busch InBev Finance, Inc., Company Guaranteed, 1.90%, 2/01/19	$	1,000,000	$	1,002,089
BIOTECHNOLOGY – 2.2%
Celgene Corp., Sr. Unsecured, 2.13%, 8/15/18^#		1,225,000		1,231,557
Gilead Sciences, Inc., Sr. Unsecured, 1.85%, 9/04/18		785,000		788,433

TOTAL BIOTECHNOLOGY			$	2,019,990
BUILDING PRODUCTS – 1.1%
Johnson Controls International PLC, Sr. Unsecured, 1.40%, 11/02/17		1,000,000		998,802
CAPITAL MARKETS – 6.6%
Charles Schwab Corp. (The), Sr. Unsecured, 1.50%, 3/10/18		1,975,000		1,976,568
Goldman Sachs Group, Inc. (The), Sr. Unsecured, 2.14%, 4/26/22^D		2,000,000		1,997,447
Morgan Stanley, Sr. Unsecured, MTN, 2.44%, 10/24/23^D		2,000,000		2,028,386

TOTAL CAPITAL MARKETS			$	6,002,401
COMMERCIAL BANKS – 4.8%
KeyBank NA, Sr. Unsecured, BKNT, 2.35%, 3/08/19		1,650,000		1,661,557
KeyBank NA, Subordinated, BKNT, 5.70%, 11/01/17		900,000		923,865
PNC Bank NA, Sr. Unsecured, BKNT, 1.95%, 3/04/19		700,000		702,683
US Bank NA/Cincinnati OH, Sr. Unsecured, BKNT, 1.40%, 4/26/19		1,150,000		1,139,685

TOTAL COMMERCIAL BANKS			$	4,427,790
COMMERCIAL SERVICES & SUPPLIES – 2.1%
Total System Services, Inc., Sr. Unsecured, 2.38%, 6/01/18		1,900,000		1,909,345
COMPUTERS – 1.1%
Hewlett Packard Enterprise Co., Sr. Unsecured, 2.45%, 10/05/17		1,000,000		1,006,799
CONSUMER FINANCE – 5.1%
American Express Credit Corp., Sr. Unsecured, 1.54%, 3/18/19^D		800,000		802,907
American Express Credit Corp., Sr. Unsecured, MTN, 1.70%, 10/30/19		750,000		743,883
Capital One NA, Sr. Unsecured, BKNT, 1.50%, 9/05/17		1,200,000		1,199,702
Capital One NA, Sr. Unsecured, BKNT, 2.19%, 1/30/23^D		1,000,000		1,003,682
John Deere Capital Corp., Sr. Unsecured, MTN, 1.95%, 1/08/19		950,000		956,169

TOTAL CONSUMER FINANCE			$	4,706,343
DIVERSIFIED FINANCIAL SERVICES – 5.4%
Berkshire Hathaway Finance Corp., Company Guaranteed, 1.30%, 8/15/19		1,500,000		1,485,115


Description	Par Value		Value
Canadian Imperial Bank of Commerce, Sr. Unsecured, 1.47%, 9/06/19^D	$	1,000,000	$	1,001,549
Citigroup, Inc., Sr. Unsecured, 2.15%, 7/30/18		915,000		918,458
Citigroup, Inc., Sr. Unsecured, 2.05%, 12/07/18		1,000,000		1,000,586
Citigroup, Inc., Sr. Unsecured, 2.05%, 6/07/19		500,000		498,988

TOTAL DIVERSIFIED FINANCIAL SERVICES			$	4,904,696
ELECTRIC – 7.8%
Appalachian Power Co., Sr. Unsecured, Series K, 5.00%, 6/01/17		1,000,000		1,011,159
Exelon Generation Co. LLC, Sr. Unsecured, 6.20%, 10/01/17		1,505,000		1,549,877
Georgia Power Co., Sr. Unsecured, 1.95%, 12/01/18		2,000,000		2,010,044
NextEra Energy Capital Holdings, Inc., Company Guaranteed, 2.30%, 4/01/19		600,000		604,677
Southern Power Co., Sr. Unsecured, 1.85%, 12/01/17		1,000,000		1,003,072
WEC Energy Group, Inc., Sr. Unsecured, 2.45%, 6/15/20		1,000,000		1,004,296

TOTAL ELECTRIC			$	7,183,125
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS – 1.2%
Emerson Electric Co., Sr. Unsecured, 5.25%, 10/15/18		1,000,000		1,063,222
FOOD PRODUCTS – 1.1%
Hershey Co. (The), Sr. Unsecured, 1.60%, 8/21/18		1,000,000		1,004,289
HEALTH CARE EQUIPMENT & SUPPLIES – 1.8%
Abbott Laboratories, Sr. Unsecured, 2.35%, 11/22/19		500,000		502,028
Zimmer Biomet Holdings, Inc., Sr. Unsecured, 1.45%, 4/01/17		1,135,000		1,135,409

TOTAL HEALTH CARE EQUIPMENT & SUPPLIES			$	1,637,437
HEALTH CARE PROVIDERS & SERVICES – 2.3%
Anthem, Inc., Sr. Unsecured, 2.38%, 2/15/17^#		1,000,000		1,000,346
UnitedHealth Group, Inc., Sr. Unsecured, 1.90%, 7/16/18		1,110,000		1,115,129

TOTAL HEALTH CARE PROVIDERS & SERVICES			$	2,115,475
INSURANCE – 1.1%
Metropolitan Life Global Funding I, Sr. Secured, 1.95%, 12/03/18^W		1,000,000		1,002,777
MEDIA – 3.4%
CBS Corp., Company Guaranteed, 4.63%, 5/15/18		1,000,000		1,035,922


Description	Par Value		Value
Comcast Corp., Company Guaranteed, 5.70%, 7/01/19	$	1,000,000	$	1,091,616
Walt Disney Co. (The), Sr. Unsecured, MTN, 0.88%, 7/12/19		980,000		962,833

TOTAL MEDIA			$	3,090,371
OIL & GAS – 8.4%
BP Capital Markets PLC, Company Guaranteed, 1.68%, 5/03/19		950,000		945,408
Chevron Corp., Sr. Unsecured, 1.34%, 11/09/17		1,500,000		1,501,378
ConocoPhillips Co., Company Guaranteed, 5.75%, 2/01/19		1,000,000		1,082,156
Exxon Mobil Corp., Sr. Unsecured, 1.71%, 3/01/19		1,155,000		1,157,725
Phillips 66, Company Guaranteed, 2.95%, 5/01/17		1,000,000		1,005,641
Schlumberger Holdings Corp., Sr. Unsecured, 1.90%, 12/21/17^#,Ώ		1,000,000		1,004,205
Schlumberger Holdings Corp., Sr. Unsecured, 2.35%, 12/21/18^Ώ		1,000,000		1,009,360

TOTAL OIL & GAS			$	7,705,873
PHARMACEUTICALS – 1.2%
Teva Pharmaceutical Finance Netherlands III BV, Sr. Unsecured, 1.70%, 7/19/19		435,000		427,244
Teva Pharmaceutical Finance Netherlands III BV, Sr. Unsecured, 2.20%, 7/21/21		730,000		697,433

TOTAL PHARMACEUTICALS			$	1,124,677
PIPELINES – 1.1%
Kinder Morgan Energy Partners LP, Company Guaranteed, 2.65%, 2/01/19		1,000,000		1,008,160
RETAIL – 2.9%
CVS Health Corp., Sr. Unsecured, 1.90%, 7/20/18		1,000,000		1,003,463
Walgreens Boots Alliance, Inc., Sr. Unsecured, 1.75%, 5/30/18		1,650,000		1,653,663

TOTAL RETAIL			$	2,657,126
SOFTWARE – 0.9%
Microsoft Corp., Sr. Unsecured, 1.55%, 8/08/21		850,000		822,060
TELECOMMUNICATIONS – 1.0%
AT&T, Inc., Sr. Unsecured, 1.93%, 6/30/20^D		900,000		911,861
TRUCKING & LEASING – 1.1%
GATX Corp., Sr. Unsecured, 2.38%, 7/30/18		1,000,000		1,004,759

TOTAL CORPORATE BONDS (COST $64,270,859)			$	64,326,446


Description	Par Value		Value
GOVERNMENT AGENCIES – 1.6%
FEDERAL HOME LOAN BANK (FHLB) – 1.6%
1.38%, 11/15/19	$	1,500,000	$	1,495,327
SMALL BUSINESS ADMINISTRATION – 0.0%**
Small Business Administration Participation Certificates, U.S. Government Guaranteed, Series 1997-E, 7.30%, 5/01/17		195		197
Small Business Administration Participation Certificates, U.S. Government Guaranteed, Series 1999-I, 7.30%, 9/01/19		2,250		2,352

TOTAL SMALL BUSINESS ADMINISTRATION			$	2,549

TOTAL GOVERNMENT AGENCIES (COST $1,497,920)			$	1,497,876
MORTGAGE-BACKED SECURITIES – 4.5%
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 2.1%
Pool 287773, 7.50%, 3/01/17		43		43
Pool 538733, 9.00%, 9/01/19		155		160
Pool G12709, 5.00%, 7/01/22		78,356		80,646
Pool C80328, 7.50%, 7/01/25		20,253		23,376
Pool G14695, 4.50%, 6/01/26		343,400		353,862
Pool G01425, 7.50%, 5/01/32		55,547		67,373
Pool C78010, 5.50%, 4/01/33		633,874		714,831
Pool A18401, 6.00%, 2/01/34		543,755		614,658
Pool G01831, 6.00%, 5/01/35		104,662		118,327

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	1,973,276
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 2.0%
Pool 39862, 9.75%, 9/01/17		746		774
Pool 202957, 8.00%, 8/01/21		659		682
Pool MA0909, 3.00%, 11/01/21		418,378		428,871
Pool 334593, 7.00%, 5/01/24		43,895		51,163
Pool AE2520, 3.00%, 1/01/26		251,999		259,737
Pool 436746, 6.50%, 8/01/28		23,094		24,188
Pool 440401, 6.50%, 8/01/28		107,769		122,527
Pool 323419, 6.00%, 12/01/28		41,857		47,266
Pool 485678, 6.50%, 3/01/29		19,791		20,913
Pool 494375, 6.50%, 4/01/29		1,631		1,675
Pool 252439, 6.50%, 5/01/29		20,303		23,064
Pool 545051, 6.00%, 9/01/29		63,302		71,531
Pool 725418, 6.50%, 5/01/34		104,188		118,312
Pool 833143, 5.50%, 9/01/35		454,712		505,888
Pool 843323, 5.50%, 10/01/35		36,208		40,108
Pool 255933, 5.50%, 11/01/35		101,041		112,638

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	1,829,337
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) – 0.4%
Pool 780440, 8.50%, 11/15/17		23		23


Description	Par Value		Value
Pool 306066, 8.50%, 7/15/21	$	2,173	$	2,454
Pool 307983, 8.50%, 7/15/21		10,656		10,981
Pool 1061, 9.00%, 4/20/23		10,331		10,722
Pool 346572, 7.00%, 5/15/23		5,505		5,869
Pool 1886, 9.00%, 10/20/24		20		20
Pool 484269, 7.00%, 9/15/28		22,584		23,967
Pool 592505, 6.00%, 4/15/33		138,395		148,691
Pool 581522, 6.00%, 5/15/33		131,048		139,830

TOTAL GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA)			$	342,557

TOTAL MORTGAGE-BACKED SECURITIES (COST $3,914,305)			$	4,145,170
MUNICIPAL BOND – 0.1%
DEVELOPMENT – 0.1%
City of Miami, FL, Rent Revenue, Series 1998, 8.65%, 7/01/19		90,000		98,697

TOTAL MUNICIPAL BOND (COST $93,703)			$	98,697
U.S. TREASURY – 13.2%
U.S. TREASURY NOTES – 13.2%
1.00%, 5/15/18		705,000		705,375
1.00%, 3/15/19		7,305,000		7,265,619
1.13%, 8/31/21		3,495,000		3,382,879
1.38%, 6/30/18		735,000		738,956

TOTAL U.S. TREASURY NOTES			$	12,092,829

TOTAL U.S. TREASURY (COST $12,255,518)			$	12,092,829
	Number of Shares
MONEY MARKET FUND – 0.0%**
Dreyfus Government Cash Management Fund, Institutional Shares, 0.47%^{^}		13,393	$	13,393

TOTAL MONEY MARKET FUND (COST $13,393)			$	13,393

TOTAL INVESTMENTS IN SECURITIES – 102.8% (COST $94,062,159)			$	94,097,165
	Par Value
CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN – 1.3%
REPURCHASE AGREEMENTS – 1.3%
Citigroup Global Markets, Inc., 0.56%, dated 1/31/2017, due 2/01/17, repurchase price $220,577, collateralized by U.S. Government & Treasury Securities 0.88% to 11.50%, maturing 2/01/17 to 6/01/52; total market value of $224,986.	$	220,574	$	220,574


Description	Par Value		Value
Daiwa Capital Markets America, 0.58%, dated 1/31/2017, due 2/01/17, repurchase price $220,578, collateralized by U.S. Government & Treasury Securities 0.00% to 8.88%, maturing 2/16/17 to 9/09/49; total market value of $224,985.	$	220,574	$	220,574
Merrill Lynch, Pierce, Fenner & Smith, Inc., 0.54%, dated 1/31/2017, due 2/01/17, repurchase price $58,030, collateralized by U.S. Treasury Securities 0.00% to 1.25%, maturing 11/15/24 to 9/09/49; total market value of $59,190.		58,029		58,029
Nomura Securities International, Inc., 0.55%, dated 1/31/2017, due 2/01/17, repurchase price $220,577, collateralized by U.S. Government Securities 0.00% to 7.13%, maturing 2/10/17 to 12/20/66; total market value of $224,985.		220,574		220,574
RBC Dominion Securities, Inc., 0.56%, dated 1/31/2017, due 2/01/17, repurchase price $220,577, collateralized by U.S. Government Securities 3.00% to 7.00%, maturing 3/01/37 to 1/01/47; total market value of $224,985.		220,574		220,574
TD Securities (USA) LLC, 0.56%, dated 1/31/2017, due 2/01/17, repurchase price $220,577, collateralized by U.S. Government Securities 2.50% to 4.50%, maturing 9/01/27 to 8/01/46; total market value of $224,986.		220,574		220,574

TOTAL CASH COLLATERAL INVESTED FOR SECURITIES ON LOAN (COST $1,160,899)			$	1,160,899

TOTAL INVESTMENTS – 104.1% (COST $95,223,058)			$	95,258,064
COLLATERAL FOR SECURITIES ON LOAN – (1.3%)				(1,160,899	)
OTHER LIABILITIES LESS ASSETS – (2.8%)				(2,581,640	)

TOTAL NET ASSETS – 100.0%			$	91,515,525

Cost of investments for Federal income tax purposes is $95,225,153. The net unrealized appreciation/(depreciation) of investments was $32,911. This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $507,794 and net unrealized depreciation from investments for those securities having an excess of cost over value of $474,883.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2017 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
MUNICIPAL BONDS – 97.6%
ALABAMA – 0.5%
HIGHER EDUCATION – 0.5%
Auburn University, AL, Advance Refunding Revenue Bonds, (Series A), 5.00%, 6/01/21	$	1,200,000	$	1,371,204

TOTAL ALABAMA			$	1,371,204
ARIZONA – 1.6%
MEDICAL – 0.8%
Maricopa County Industrial Development Authority, AZ, Revenue Bonds (Banner Health Obligation Group), 5.00%, 1/01/31		2,000,000		2,322,240
SCHOOL DISTRICT – 0.8%
Maricopa County Unified School District No 80 Chandler, AZ, GO Limited, Economic Defeasance, 5.00%, 7/01/21		2,000,000		2,293,420

TOTAL ARIZONA			$	4,615,660
CALIFORNIA – 7.4%
GENERAL OBLIGATIONS – 1.7%
Grossmont Healthcare District, CA, GO Unlimited, (Series C), (Health, Hospital & Nursing Home Improvements), 5.00%, 7/15/23		2,000,000		2,349,800
State of California, CA, GO Unlimited, 5.00%, 9/01/31		2,200,000		2,568,038

TOTAL GENERAL OBLIGATIONS			$	4,917,838
LEASE – 1.7%
Los Angeles Unified School District, CA, Certificate Participation Refunding Bonds, (Series B), (Headquarters Building), 5.00%, 10/01/27		4,300,000		4,890,734
TRANSPORTATION – 2.0%
Bay Area Toll Authority, CA, Refunding Revenue Bonds, (San Francisco Bay Area), 5.00%, 4/01/26		5,000,000		5,719,500
WATER & SEWER – 2.0%
City of San Francisco Public Utilities Commission Water Revenue, CA, Refunding Revenue Bonds, (Series C), (Water Revenue), 5.00%, 11/01/27		5,000,000		5,722,450

TOTAL CALIFORNIA			$	21,250,522
COLORADO – 0.8%
AIRPORT – 0.8%
City & County of Denver Airport System Revenue, CO, Refunding Revenue Bonds, (Series B), 5.00%, 11/15/25		2,000,000		2,286,100
TOTAL COLORADO			$	2,286,100


Description	Par Value		Value
DISTRICT OF COLUMBIA – 1.6%
HIGHER EDUCATION – 1.6%
District of Columbia, DC, Advance Refunding, Revenue Bonds, (Georgetown University), 5.00%, 4/01/31	$	3,980,000	$	4,601,119

TOTAL DISTRICT OF COLUMBIA			$	4,601,119
FLORIDA – 2.5%
LEASE – 1.9%
Broward County School Board, FL, Certificate Participation Refunding Bonds, (Series A), 5.00%, 7/01/21		3,000,000		3,393,510
St. Johns County School Board, FL, Certificate Participation Refunding Bonds, 5.00%, 7/01/20		2,000,000		2,218,860

TOTAL LEASE			$	5,612,370
TRANSPORTATION – 0.6%
FL Turnpike Authority-A-Ref 5, FL, Revenue Bonds, Highway Revenue Tolls, 5.00%, 7/01/20		1,500,000		1,681,665

TOTAL FLORIDA			$	7,294,035
GEORGIA – 2.6%
HIGHER EDUCATION – 0.4%
Athens-Clarke County Unified Government Development Authority, GA, Revenue Bonds, (Series A), (UGAAP), 5.00%, 9/01/23		1,000,000		1,170,930
LEASE – 1.8%
Gwinnett County Development Authority, GO, Certificate Participation Refunding Bonds, (NATL-RE), 5.25%, 1/01/22		4,370,000		5,058,450
MEDICAL – 0.4%
Clarke County Hospital Authority, GA, Revenue Bonds, 5.00%, 7/01/30		1,000,000		1,147,080

TOTAL GEORGIA			$	7,376,460
ILLINOIS – 12.9%
DEDICATED TAX – 2.0%
State of Illinois, IL, Revenue Bond, (Sales Tax Revenue), (NATL-RE), 6.00%, 6/15/27		2,000,000		2,536,940
State of Illinois, IL, Revenue Bonds, Public Improvements, (NATL-RE), 6.00%, 6/15/26		2,500,000		3,123,250

TOTAL DEDICATED TAX			$	5,660,190


Description	Par Value		Value
GENERAL OBLIGATIONS – 7.4%
Chicago Park District, IL, (Ad Valorem Property Tax)
5.00%, 1/01/26	$	1,250,000	$	1,383,675
5.00%, 1/01/27		3,455,000		3,804,266
Metropolitan Water Reclamation District of Greater Chicago, GO Unlimited, (Series A), 5.00%, 12/01/28		6,000,000		7,056,960
Metropolitan Water Reclamation District of Greater Chicago IL, GO (Series B), 5.00%, 12/01/31		1,075,000		1,236,121
Metropolitan Water Reclamation District of Greater Chicago, IL, GO Limited, (Series C-Green Bond), (Water Utility & Sewer Improvements), 5.00%, 12/01/28		6,790,000		7,815,833

TOTAL GENERAL OBLIGATIONS			$	21,296,855
MEDICAL – 0.4%
Illinois State Finance Authority, IL, Refunding Revenue Bonds, (Series A), (Rush University Medical Center), 5.00%, 11/15/29		1,000,000		1,119,860
SCHOOL DISTRICT – 1.1%
Du Page & Will Counties, IL, Community School District No 204 Indian Prairie, GO Unlimited, Advance Refunding, (Series A), 5.00%, 12/30/19		2,785,000		3,062,163
TRANSPORTATION – 2.0%
Illinois State Toll Highway Authority, IL, Refunding Revenue Bonds, (Series D), 5.00%, 1/01/24		5,000,000		5,834,250

TOTAL ILLINOIS			$	36,973,318
INDIANA – 0.7%
MEDICAL – 0.7%
Indiana Finance Authority, IN, Refunding Revenue Bonds, (Series C), (Franciscan Alliance Inc., OBG), 5.00%, 11/01/21		2,000,000		2,124,480

TOTAL INDIANA			$	2,124,480
MARYLAND – 3.1%
GENERAL OBLIGATIONS – 2.3%
Baltimore County, MD, GO Unlimited, Refunding Notes, (Public Improvements), 5.00%, 2/01/28		1,000,000		1,140,790
Cecil County, MD, GO Unlimited, Refunding Bonds, (County Commissioners-Consolidated Public Improvements), 5.00%, 11/01/23		2,590,000		3,030,145
Montgomery County, MD, GO Unlimited, Refunding Bonds, (Series A), 5.00%, 7/01/21		2,000,000		2,295,280

TOTAL GENERAL OBLIGATIONS			$	6,466,215


Description	Par Value		Value
MEDICAL – 0.8%
Maryland Health & Higher Educational Facilities Authority, MD, Refunding Revenue Bonds, (Anne Arundel Health Systems)
5.00%, 7/01/22	$	1,000,000	$	1,161,650
5.00%, 7/01/26		1,100,000		1,241,471

TOTAL MEDICAL			$	2,403,121

TOTAL MARYLAND			$	8,869,336
MASSACHUSETTS – 1.7%
GENERAL OBLIGATION – 1.7%
Commonwealth of Massachusetts, MA, Advance Refunding, GO Limited, (Series A), 5.00%, 7/01/23		4,000,000		4,740,480

TOTAL MASSACHUSETTS			$	4,740,480
MICHIGAN – 10.4%
DEDICATED TAX – 2.8%
Michigan Finance Authority, MI, Revenue Bond, (Income Tax Revenue), 4.00%, 10/01/24		2,000,000		2,071,420
Michigan Finance Authority, MI, Revenue Bonds, Repayment of Bank Loan, (Series H-1), 5.00%, 10/01/25		5,215,000		5,976,286

TOTAL DEDICATED TAX			$	8,047,706
LEASE – 1.6%
Michigan State Building Authority, Revenue Bonds, (Series I), 5.00%, 10/15/30		4,000,000		4,608,800
SCHOOL DISTRICT – 4.0%
Chippewa Valley Schools, GO Unlimited, Current Refunding, (Series B), (Q-SBLF), 5.00%, 5/01/22		3,000,000		3,441,570
Grand Ledge Public Schools, MI, GO Unlimited, Current Refunding, (Q-SBLF)
5.00%, 5/01/22		1,195,000		1,370,892
5.00%, 5/01/24		2,810,000		3,281,911
Huron Valley School District, MI, GO Unlimited, Current Refunding, (Q-SBLF), 5.00%, 5/01/20		1,000,000		1,107,130
Troy School District, MI, GO Unlimited, Advance Refunding, (Q-SBLF), 5.00%, 5/01/20		2,085,000		2,313,725

TOTAL SCHOOL DISTRICT			$	11,515,228
UTILITIES – 1.2%
Lansing Board of Water & Light, MI, Revenue Bonds, (Series A), 5.00%, 7/01/29		3,000,000		3,357,060
WATER – 0.8%
Great Lakes Water Authority Water Supply System, MI, Revenue Bonds, 5.00%, 7/01/23		2,000,000		2,295,360

TOTAL MICHIGAN			$	29,824,154
MISSOURI – 2.1%


Description	Par Value		Value
MEDICAL – 2.1%
Health & Educational Facilities Authority, MI, Current Refunding, Revenue Bonds, (Saint Luke’s Health Systems, Inc.), 5.00%, 11/15/30	$	5,425,000	$	6,121,516

TOTAL MISSOURI			$	6,121,516
NEBRASKA – 2.4%
ELECTRIC – 2.4%
Lincoln Nebraska Electric System, NE, Revenue Bond, 5.00%, 9/01/20		6,000,000		6,751,380

TOTAL NEBRASKA			$	6,751,380
NEVADA – 1.8%
DEDICATED TAX – 1.8%
County of Clark, NV, Refunding Revenue Bonds, (Fuel Tax and Subordinated Motor), 5.00%, 7/01/30		4,505,000		5,181,561

TOTAL NEVADA			$	5,181,561
NEW JERSEY – 3.2%
GENERAL OBLIGATIONS – 0.7%
County of Essex, NJ, GO Unlimited, (Series A), ( Public Improvements), 5.00%, 8/01/19		1,870,000		2,043,031
HIGHER EDUCATION – 1.2%
Gloucester County Improvement Authority, NJ, Advance Refunding Revenue Bonds, (Series A), (Rowan University Project), 5.00%, 7/01/28		1,030,000		1,166,640
Gloucester County Improvement Authority, NJ, Advance Refunding Revenue Bonds, (Series B), (Rowan University Project), 5.00%, 7/01/27		2,000,000		2,278,000

TOTAL HIGHER EDUCATION			$	3,444,640
SCHOOL DISTRICT – 0.6%
Egg Harbor Township NJ School District, GO Unlimited, Refunding School Bond, 5.00%, 9/15/23		1,520,000		1,762,729
TRANSPORTATION – 0.7%
New Jersey State Turnpike Authority, NJ, Revenue Bonds, (Series A), (Highway Improvement), 5.00%, 1/01/27		1,645,000		1,903,709

TOTAL NEW JERSEY			$	9,154,109
NEW YORK – 10.9%
AIRPORT – 2.8%
Port Authority of New York & New Jersey, NY, Refunding Revenue Bonds, (175th Series), (Port, Airport & Marina Improvements), 5.00%, 12/01/23		2,000,000		2,360,320
Port Authority of New York & New Jersey, NY, Current Refunding, Revenue Bonds, (194th Series), (Port, Airport & Marina Improvements), 5.00%, 10/15/31		5,000,000		5,827,600

TOTAL AIRPORT			$	8,187,920


Description	Par Value		Value
DEDICATED TAX – 3.7%
Metropolitan Transportation Authority, NY, Revenue Bonds, (Fuel Sales Tax Revenue), 5.00%, 11/15/22	$	3,000,000	$	3,515,550
Nassau County Interim Finance Authority, NY, Refunding Revenue Bonds, (Series A), (Sales Tax), 5.00%, 11/15/21		1,960,000		2,276,814
New York City, Transitional Finance Authority, NY, Refunding Revenue Bonds, (Sub-series E), 5.00%, 11/01/22		4,125,000		4,741,770

TOTAL DEDICATED TAX			$	10,534,134
GENERAL OBLIGATIONS – 1.0%
County of Nassau NY, GO Limited, (Series B), 5.00%, 10/01/28		2,400,000		2,836,536
TRANSPORTATION – 3.4%
Metropolitan Transportation Authority, NY, Revenue Bonds, (Series B), (Transit Improvements), 5.00%, 11/15/29		3,000,000		3,444,570
New York State Thruway Authority, NY, Refunding Revenue Bonds, 5.00%, 1/01/30		5,500,000		6,294,915

TOTAL TRANSPORTATION			$	9,739,485

TOTAL NEW YORK			$	31,298,075
OHIO – 2.8%
GENERAL OBLIGATIONS – 0.8%
Akron-Summit County Public Library, OH, GO Unlimited, Refunding Revenue Bonds, 5.00%, 12/01/20		1,960,000		2,207,156
SCHOOL DISTRICT – 2.0%
Columbus City School District, OH, GO Unlimited (School Facilities Construction & Improvement), 5.00%, 12/01/31		4,875,000		5,715,401

TOTAL OHIO			$	7,922,557
PENNSYLVANIA – 7.2%
GENERAL OBLIGATION – 0.4%
Commonwealth of Pennsylvania, PA, Advance Refunding, GO Unlimited, 5.00%, 1/15/28		1,000,000		1,168,920
HIGHER EDUCATION – 1.7%
Pennsylvania Higher Educational Facilities Authority, PA, Current Refunding Revenue Bonds, (Series A), (University of Sciences, Philadelphia), 5.00%, 11/01/28		2,330,000		2,647,742
Pennsylvania State University, PA, Refunding Revenue Bonds, (Series B), 5.25%, 8/15/22		1,865,000		2,202,248

TOTAL HIGHER EDUCATION			$	4,849,990
MEDICAL – 0.6%
Allegheny County Hospital Development Authority, PA, Revenue Bonds, (Series A), (UPMC, OBG), 5.00%, 10/15/22		1,605,000		1,851,688


Description	Par Value		Value
PRE-REFUNDED/ESCROW – 2.9%
Bucks County Industrial Development Authority, PA, IDA, Revenue Bonds, ETM, (Senior Lifestyles, Inc., OBG), 10.00%, 5/15/19	$	4,775,000	$	5,719,925
Pennsylvania Convention Center Authority, PA, Revenue Bonds, ETM, (Series A), (FGIC), 6.00%, 9/01/19		2,410,000		2,586,219

TOTAL PRE-REFUNDED/ESCROW			$	8,306,144
SCHOOL DISTRICT – 1.6%
Hempfield Area School District, Westmoreland County, PA, Current Refunding, GO Unlimited, (Series B), (BAM), (State Aid Withholding), 5.00%, 3/15/21		2,240,000		2,509,270
Pittsburgh Public Schools, PA, GO Unlimited, Refunding Revenue Bonds, (Series A), (AGM State Aid Withholding), 5.00%, 9/01/21		1,775,000		1,963,594

TOTAL SCHOOL DISTRICT			$	4,472,864

TOTAL PENNSYLVANIA			$	20,649,606
TEXAS – 13.1%
AIRPORT – 1.0%
Dallas/Fort Worth International Airport, TX, Refunding Revenue Bonds, (Series D), 5.25%, 11/01/23		2,500,000		2,869,175
GENERAL OBLIGATIONS – 4.1%
County of Harris, TX, Refunding Notes, (Ad Valorem Property Tax), 5.00%, 10/01/20		3,315,000		3,736,204
State of Texas, TX, GO Unlimited, Highway Improvements, (Transportation Commission), 5.00%, 4/01/21		3,440,000		3,921,531
State of Texas, TX, GO Unlimited, Highway Improvements, (Transportation Commission), 5.00%, 4/01/24		3,500,000		4,183,550

TOTAL GENERAL OBLIGATIONS			$	11,841,285
HIGHER EDUCATION – 2.2%
Harris County Cultural Education Facilities Finance Corp., TX, Refunding Revenue Bonds, (Series A), (Baylor College of Medicine, OBG), 5.00%, 11/15/19		3,105,000		3,398,236
Permanent University Fund, Refunding Revenue Bonds, (Series B), 5.25%, 7/01/28		2,405,000		2,982,657

TOTAL HIGHER EDUCATION			$	6,380,893
MEDICAL – 2.5%
Tarrant County Cultural Education Facilities Finance Corp., TX, Revenue Bonds, (Methodist Hospital of Dallas, OBG), 5.00%, 10/01/25		6,110,000		7,036,337
SCHOOL DISTRICT – 0.5%
Point Isabel Independent School District, TX, Current Refunding, (Ad Valorem Property Tax), (PSF-GTD), 5.00%, 2/01/22		1,375,000		1,512,074


Description	Par Value		Value
UTILITIES – 1.3%
City of Houston Utility System, TX, Refunding Revenue Bonds, (Series C), (Comb-First Lien)
5.00%, 5/15/21	$	1,250,000	$	1,422,425
5.00%, 5/15/23		2,000,000		2,346,680

TOTAL UTILITIES			$	3,769,105
WATER & SEWER – 1.5%
City of Austin Water & Wastewater System, TX, Refunding Revenue Bonds, 5.00%, 5/15/20		3,810,000		4,250,665

TOTAL TEXAS			$	37,659,534
UTAH – 0.9%
MEDICAL – 0.9%
County of Utah, UT, Revenue Bonds, (IHC Health Services Inc., OBG)
5.00%, 5/15/25		1,165,000		1,308,924
5.00%, 5/15/26		1,200,000		1,347,168

TOTAL MEDICAL			$	2,656,092

TOTAL UTAH			$	2,656,092
VIRGINIA – 1.5%
LEASE – 1.5%
Virginia, College Building Authority, VA, Revenue Bonds, University & College Improvements, (Series A), (Public Higher Education Financing, OBG), 5.00%, 9/01/19		4,000,000		4,385,040

TOTAL VIRGINIA			$	4,385,040
WASHINGTON – 5.9%
DEDICATED TAX – 0.9%
Central Puget Sound Regional Transit Authority, WA, Revenue Bonds, Transit Improvements, (NATL-RE), 5.25%, 2/01/21		2,300,000		2,549,895
GENERAL OBLIGATIONS – 1.8%
State of Washington, WA, GO Unlimited, Refunding Revenue Bonds, (Series R-C), 5.00%, 7/01/24		4,500,000		5,312,115
HIGHER EDUCATION – 0.6%
Washington Economic Development Finance Authority, Refunding Revenue Bonds, 5.00%, 6/01/20		1,485,000		1,652,909
POWER – 0.4%
County of Lewis Public Utility District No. 1, WA, Current Refunding Revenue Bonds, 5.25%, 10/01/28		1,000,000		1,175,930


Description	Par Value		Value
WATER – 2.2%
City of Seattle WA Water System Revenue, Advance Refunding Revenue Bonds, 5.00%, 5/01/21	$	5,500,000	$	6,272,585

TOTAL WASHINGTON			$	16,963,434

TOTAL MUNICIPAL BONDS (COST $277,382,188)			$	280,069,772
	Number of Shares
MONEY MARKET FUND – 1.6%
Dreyfus Government Cash Management Fund, Institutional Shares, 0.47%^{^}		4,576,386	$	4,576,386

TOTAL MONEY MARKET FUND (COST $4,576,386)			$	4,576,386

Cost of investments for Federal income tax purposes is $281,958,574. The net unrealized appreciation/(depreciation) of investments was $2,687,584. This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $5,738,403 and net unrealized depreciation from investments for those securities having an excess of cost over value of $3,050,819.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2017 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
MUNICIPAL BONDS – 96.8%
NEW YORK – 96.8%
AIRPORT – 5.6%
Port Authority of New York & New Jersey, NY, Refunding Revenue Bonds, Port, Airport & Marina Improvements, (175th Series), 5.00%, 12/01/23	$	3,000,000	$	3,540,480
Port Authority of New York & New Jersey, NY, Revenue Bonds, Airport & Marina Improvements, (194th Series), 5.00%, 10/15/30		1,000,000		1,172,260

TOTAL AIRPORT			$	4,712,740
DEDICATED TAX – 9.9%
Nassau County Interim Finance Authority, NY, Refunding Revenue Bonds, (Series A), 5.00%, 11/15/21		1,000,000		1,161,640
New York City, NY, Transitional Finance Authority, Revenue Bonds, Public Improvements, (Sub-Series E-1), 5.00%, 2/01/31		1,260,000		1,447,715
New York Local Government Assistance Corp., NY, Refunding Revenue Notes, (Series A), (GO of Corp.), 5.00%, 4/01/20		3,000,000		3,342,720
New York State Dormitory Authority, NY, Revenue Bonds, Public Improvements, (Series A), 5.00%, 3/15/32		2,000,000		2,344,880

TOTAL DEDICATED TAX			$	8,296,955
GENERAL OBLIGATIONS – 19.1%
County of Albany, NY, GO, Refunding Bonds, AD Valorem Property Tax, 5.00%, 9/15/20		2,595,000		2,926,407
County of Saratoga NY, GO, Economic Defeasance, Refunding Bonds, AD Valorem Property Tax, 5.00%, 7/15/31		1,150,000		1,416,628
Nassau County, NY, AD Valorem Property Tax, GO, Public Improvements, (Series B), 5.00%, 10/01/29		2,875,000		3,374,042
Nassau County, NY, AD Valorem Property Tax, GO, Public Improvements, (Series C), (BAM-TCRS), 5.00%, 4/01/26		1,000,000		1,191,690
New York State, NY, GO Unlimited, Highway Improvements, (Series E), (State Aid Withholding), 5.00%, 12/15/21		2,090,000		2,437,442
New York State, NY, GO Unlimited, Highway Improvements, (Series E), 5.00%, 12/15/30		1,555,000		1,771,580
Town of Cheektowaga NY, GO, Refunding Notes, AD Valorem Property Tax, 5.00%, 7/01/28		1,000,000		1,210,460


Description	Par Value		Value
Town of Southold NY, GO, Economic Defeasance, Refunding Bonds, 3.00%, 2/15/21	$	485,000	$	514,828
Town of West Seneca, NY, AD Valorem Property Tax, GO, Public Improvements, 5.00%, 7/15/21		1,040,000		1,192,620

TOTAL GENERAL OBLIGATIONS			$	16,035,697
HIGHER EDUCATION – 6.8%
New York State Dormitory Authority, NY, Barnard College, Revenue Bonds, University & College Improvements, (Series A), 5.00%, 7/01/21		1,000,000		1,135,720
New York State Dormitory Authority, NY, Current Refunding, University College Improvements, (Series A), 5.00%, 7/01/20		1,470,000		1,646,459
New York State Dormitory Authority, NY, New York University, Revenue Bonds, University & College Improvements, (Series A), 5.00%, 7/01/20		1,100,000		1,234,783
New York State Dormitory Authority, NY, University & College Improvements, (Series A), (NATL-RE), 6.00%, 7/01/19		1,500,000		1,664,130

TOTAL HIGHER EDUCATION			$	5,681,092
LEASE – 10.3%
Erie County, NY, IDA, Refunding Revenue Bonds, School Improvements, (State Aid Withholding), 5.00%, 5/01/29		2,000,000		2,365,620
Erie County, NY, IDA, Revenue Bonds, School Improvements, (Series A), (School District Buffalo Project)/(State Aid Withholding), 5.00%, 5/01/23		3,000,000		3,402,060
New York City, NY, Transitional Finance Authority, Building Aid, Revenue Refunding Bonds, School Improvements, (Series S-5), (State Aid Withholding), 5.00%, 1/15/27		2,670,000		2,847,608

TOTAL LEASE			$	8,615,288
MEDICAL – 7.7%
New York State Dormitory Authority, NY, Refunding Revenue Bonds, Health, Hospital, Nursing Home Revenue (NYU Hospitals Center), 5.00%, 7/01/27		4,650,000		5,339,176
New York State Dormitory Authority, NY, Revenue Refunding Bonds, (Series C), (Memorial Sloan Kettering Cancer Center)/(National Reinsurance), 5.75%, 7/01/19		1,010,000		1,112,757

TOTAL MEDICAL			$	6,451,933


Description	Par Value		Value
POWER – 3.6%
New York Power Authority (The), NY, Revenue Refunding Bonds, (Series A), (GO of Authority), 5.00%, 11/15/22	$	2,575,000	$	3,025,264
PRE-REFUNDED/ESCROW – 4.7%
Triborough Bridge & Tunnel Authority, NY, Refunding Revenue Bonds, (Series Y), (CAPMAC – ITC GO of Authority), 6.13%, 1/01/21		3,500,000		3,917,515
SCHOOL DISTRICT – 7.7%
Bay Shore Union Free School District, NY, Current Refunding, AD Valorem Property Tax, (State Aid Withholding), 5.00%, 1/15/22		2,710,000		3,135,416
Commack Union Free School District, NY, Refunding Bonds, (GO, State Aid Withholding), 4.00%, 11/15/21		1,000,000		1,107,770
Corning City School District, NY, GO, Refunding Notes, AD Valorem Property Tax, (State Aid Withholding), 5.00%, 6/15/21		1,000,000		1,144,240
Union Free School District of The Tarrytowns, NY, Refunding Bonds, Economic Defeasance, (Series A), (State Aid Withholding), 5.00%, 1/15/19		1,000,000		1,076,330

TOTAL SCHOOL DISTRICT			$	6,463,756
TRANSPORTATION – 10.2%
Metropolitan Transportation Authority, NY, Revenue Refunding Bonds, Transit Improvements, (Series B), 5.00%, 11/15/29		2,330,000		2,675,283
Metropolitan Transportation Authority, NY, Revenue Refunding Bonds, Transit Improvements, (Series E), 5.00%, 11/15/28		2,000,000		2,287,880
Triborough Bridge & Tunnel Authority, NY, Revenue Bonds, Highway Improvements, (Series A), 5.00%, 11/15/24		2,985,000		3,578,418

TOTAL TRANSPORTATION			$	8,541,581


Description	Par Value		Value
WATER & SEWER – 11.2%
Buffalo, NY, Municipal Water Finance Authority, Current Refunding, Municipal Water Finance, 5.00%, 7/01/29	$	1,170,000	$	1,338,223
New York City Water & Sewer System, NY, Current Refunding, Municipal Water Finance, 5.00%, 6/15/28		3,150,000		3,768,471
New York City Water & Sewer System, NY, Refunding Revenue Bonds, (Series EE), 5.00%, 6/15/28		3,595,000		4,237,031

TOTAL WATER & SEWER			$	9,343,725

TOTAL NEW YORK			$	81,085,546

TOTAL MUNICIPAL BONDS (COST $80,201,749)			$	81,085,546

	Number of Shares
MONEY MARKET FUND – 2.4%
Dreyfus Government Cash Management Fund, Institutional Shares, 0.47%^{^}		2,053,630	$	2,053,630

TOTAL MONEY MARKET FUND (COST $2,053,630)			$	2,053,630

TOTAL INVESTMENTS – 99.2% (COST $82,255,379)			$	83,139,176
OTHER ASSETS LESS LIABILITIES – 0.8%				639,739

TOTAL NET ASSETS – 100.0%			$	83,778,915

Cost of investments for Federal income tax purposes is $82,255,379. The net unrealized appreciation/(depreciation) of investments was $883,797. This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $1,756,130 and net unrealized depreciation from investments for those securities having an excess of cost over value of $872,333.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2017 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
U.S. GOVERNMENT AGENCY OBLIGATIONS – 59.4%
FEDERAL FARM CREDIT BANK (FFCB) – 6.0%
0.72%, 2/15/17^D	$	100,000,000	$	100,000,000
0.53%, 2/21/17^‡		30,000,000		29,991,333
0.77%, 3/02/17^D		40,000,000		40,003,099
0.74%, 10/25/17^D		98,500,000		98,500,000
0.76%, 11/15/17^D		75,000,000		75,000,000
0.69%, 12/12/17^D		75,000,000		74,996,753
0.84%, 9/24/18^D		29,700,000		29,680,830

TOTAL FEDERAL FARM CREDIT BANK (FFCB)			$	448,172,015
FEDERAL HOME LOAN BANK (FHLB) – 40.2%
0.52%, 2/01/17^‡		228,245,000		228,245,000
0.54%, 2/02/17^‡		100,000,000		99,998,528
0.55%, 2/03/17^‡		93,000,000		92,997,236
0.48%, 2/07/17^‡		80,500,000		80,493,694
0.53%, 2/16/17^‡		64,342,000		64,328,059
0.52%, 2/17/17^‡		176,200,000		176,160,400
0.53%, 2/22/17^‡		372,245,000		372,132,695
0.53%, 2/23/17^‡		110,000,000		109,965,258
0.56%, 2/24/17^‡		49,300,000		49,282,677
0.54%, 3/01/17^‡		200,000,000		199,917,556
0.54%, 3/03/17^‡		48,562,000		48,540,673
0.58%, 3/08/17^‡		91,900,000		91,849,072
0.54%, 4/12/17^‡		74,500,000		74,423,224
0.55%, 4/19/17^‡		50,000,000		49,942,250
0.56%, 4/21/17^‡		50,000,000		49,940,092
0.56%, 4/26/17^‡		75,000,000		74,903,750
0.67%, 4/26/17^D		100,000,000		100,000,000
0.56%, 4/28/17^‡		135,000,000		134,822,948
0.59%, 7/17/17^D		100,000,000		99,999,732
0.46%, 8/01/17^D		150,000,000		149,979,421
0.49%, 8/10/17^D		150,000,000		149,993,989
0.51%, 8/10/17^D		50,000,000		50,000,000
0.62%, 8/16/17^D		100,000,000		100,000,000
0.85%, 12/15/17^D		100,000,000		100,000,000
0.65%, 1/25/18^D		250,000,000		250,000,000

TOTAL FEDERAL HOME LOAN BANK (FHLB)			$	2,997,916,254
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) – 7.7%
0.52%, 2/02/17^‡		32,789,000		32,788,535


Description	Par Value		Value
0.51%, 2/07/17^‡	$	29,967,000	$	29,964,503
0.52%, 2/08/17^‡		31,250,000		31,246,901
0.52%, 2/15/17^‡		50,000,000		49,990,083
0.52%, 2/27/17^‡		125,000,000		124,953,958
0.56%, 3/27/17^‡		39,540,000		39,507,380
0.56%, 4/17/17^D		100,000,000		100,000,000
0.78%, 4/20/17^D		70,000,000		70,024,070
0.56%, 5/18/17^‡		50,000,000		49,919,028
0.64%, 10/12/17^D		50,000,000		50,000,000

TOTAL FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC)			$	578,394,458
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) – 5.5%
0.42%, 2/01/17^‡		100,000,000		100,000,000
0.52%, 2/08/17^‡		25,000,000		24,997,521
0.51%, 2/15/17^‡		25,000,000		24,995,139
0.56%, 3/15/17^‡		60,000,000		59,961,640
0.52%, 4/17/17^‡		200,000,000		199,787,500

TOTAL FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA)			$	409,741,800

TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS (COST $4,434,224,527)			$	4,434,224,527
U.S. TREASURY OBLIGATIONS – 31.2%
U.S. TREASURY BILLS – 22.8%
0.41%, 2/02/17^‡		50,000,000		49,999,443
0.44%, 2/09/17^‡		100,000,000		99,990,444
0.49%, 2/16/17^‡		125,000,000		124,975,177
0.55%, 4/13/17^‡		275,000,000		274,708,604
0.54%, 4/20/17^‡		350,000,000		349,598,083
0.52%, 5/04/17^‡		50,000,000		49,934,910
0.64%, 5/18/17^‡		150,000,000		149,723,958
0.61%, 6/01/17^‡		100,000,000		99,801,667
0.66%, 6/15/17^‡		100,000,000		99,760,847
0.64%, 7/06/17^‡		175,000,000		174,528,326
0.62%, 7/20/17^‡		150,000,000		149,573,275
0.61%, 7/27/17^‡		85,000,000		84,750,667

TOTAL U.S. TREASURY BILLS			$	1,707,345,401
U.S. TREASURY NOTES – 8.4%
0.63%, 2/15/17		275,000,000		275,025,065
0.88%, 2/28/17		100,000,000		100,035,175
3.25%, 3/31/17		175,000,000		175,743,408


Description	Par Value		Value
0.88%, 5/15/17	$	75,000,000	$	75,058,170

TOTAL U.S. TREASURY NOTES			$	625,861,818

TOTAL U.S. TREASURY OBLIGATIONS (COST $2,333,207,219)			$	2,333,207,219
MONEY MARKET FUND – 0.1%
Blackrock Liquidity Funds TempFund Institutional Shares, 0.48%		10,300,000		10,300,000

TOTAL MONEY MARKET FUND (COST $10,300,000)			$	10,300,000
REPURCHASE AGREEMENTS – 9.9%
Credit Suisse First Boston LLC, 0.53%, dated 1/31/17, due 2/01/17, repurchase price $166,002,444, collateralized by U.S. Treasury Security 0.59%, maturing 1/31/18; total market value of $169,322,054.		166,000,000		166,000,000
Deutsche Bank Securities, Inc., 0.53%, dated 1/31/17, due 2/01/17, repurchase price $70,001,031, collateralized by U.S. Treasury Security 1.13%, maturing 1/31/19; total market value of $71,400,073.		70,000,000		70,000,000
Mizuho Securities USA, Inc., 0.55%, dated 1/31/17, due 2/01/17, repurchase price $150,002,292, collateralized by U.S. Treasury Securities 0.88% to 2.00%, maturing 2/28/17 to 12/31/21; total market value of $153,000,082.		150,000,000		150,000,000


Description	Par Value		Value
RBC Capital Markets LLC, 0.53%, dated 1/31/17, due 2/01/17, repurchase price $75,001,104, collateralized by U.S. Government Securities 1.66% to 5.56%, maturing 7/01/18 to 12/01/46; total market value of $76,500,000.	$	75,000,000	$	75,000,000
TD Securities, Inc., 0.54%, dated 1/31/17, due 2/01/17, repurchase price $275,004,125, collateralized by U.S. Government Securities 3.00% to 5.50%, maturing 12/01/26 to 2/01/47; total market value of $283,250,001.		275,000,000		275,000,000

TOTAL REPURCHASE AGREEMENTS (COST $736,000,000)			$	736,000,000

TOTAL INVESTMENTS – 100.6% (COST $7,513,731,746)			$	7,513,731,746
OTHER LIABILITIES LESS ASSETS – (0.6%)				(48,167,488	)

TOTAL NET ASSETS – 100.0%			$	7,465,564,258

Cost of investments for Federal income tax purposes is the same as for financial statement purposes.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2017 in valuing the Fund’s assets carried at fair value:


Description	Par Value		Value
U.S. TREASURY OBLIGATIONS – 92.0%
U.S. TREASURY BILLS – 62.8%
0.50%, 2/02/17^‡	$	100,000,000	$	99,998,626
0.44%, 2/09/17^‡		50,000,000		49,995,222
0.50%, 2/16/17^‡		75,000,000		74,984,573
0.48%, 3/02/17^‡		50,000,000		49,980,848
0.52%, 4/13/17^‡		75,000,000		74,924,562
0.54%, 4/20/17^‡		50,000,000		49,942,583
0.52%, 5/04/17^‡		39,350,000		39,298,774
0.64%, 5/18/17^‡		50,000,000		49,907,986
0.64%, 7/06/17^‡		25,000,000		24,932,618
0.62%, 7/20/17^‡		25,000,000		24,928,997
0.61%, 7/27/17^‡		13,295,000		13,256,001

TOTAL U.S. TREASURY BILLS			$	552,150,790
U.S. TREASURY NOTES – 29.2%
0.63%, 2/15/17		20,000,000		20,001,823
0.50%, 2/28/17		41,000,000		40,999,439
0.88%, 2/28/17		45,000,000		45,015,829
3.25%, 3/31/17		25,000,000		25,106,201
0.88%, 5/15/17		25,000,000		25,019,390
0.67%, 10/31/17^D		50,000,000		50,034,653
0.78%, 1/31/18^D		25,000,000		25,066,012
0.69%, 4/30/18^D		25,000,000		25,037,250

TOTAL U.S. TREASURY NOTES			$	256,280,597

TOTAL U.S. TREASURY OBLIGATIONS (COST $808,431,387)			$	808,431,387


Description	Par Value		Value
REPURCHASE AGREEMENTS – 15.3%
Credit Suisse First Boston LLC, 0.53%, dated 1/31/17, due 2/01/17, repurchase price $44,000,648, collateralized by U.S. Treasury Security 1.50%, maturing 2/28/19; total market value of $44,884,766.	$	44,000,000	$	44,000,000
Deutsche Bank Securities, Inc., 0.53%, dated 1/31/17, due 2/01/17, repurchase price $40,000,589, collateralized by U.S. Treasury Securities 0.75% to 1.13% , maturing 3/31/18 to 1/15/19; total market value of $40,800,055.		40,000,000		40,000,000
RBC Capital Markets LLC, 0.52%, dated 1/31/17, due 2/01/17, repurchase price $50,000,722, collateralized by U.S. Treasury Securities 1.50% to 1.88%, maturing 2/28/19 to 6/30/20; total market value of $51,000,066.		50,000,000		50,000,000

TOTAL REPURCHASE AGREEMENTS (COST $134,000,000)			$	134,000,000

TOTAL INVESTMENTS – 107.3% (COST $942,431,387)			$	942,431,387
OTHER LIABILITIES LESS ASSETS – (7.3%)				(63,769,330	)

TOTAL NET ASSETS – 100.0%			$	878,662,057

Cost of investments for Federal income tax purposes is the same as for financial statement purposes.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of January 31, 2017 in valuing the Fund’s assets carried at fair value:

Wilmington Funds (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as an open-end management investment company. The Trust consists of 14 portfolios, (individually referred to as a “Fund” or collectively as the “Funds”).

The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of their financial statements. These policies are in conformity with U.S. generally accepted accounting principles (“GAAP”). The Trust is an investment company and follows accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, “Financial Services—Investment Companies.” The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets, liabilities, expenses and revenues reported in the financial statements. Actual results could differ from those estimated.

Investment Valuation – Fair value of the Funds’ portfolio securities are determined as follows:

Trading in foreign securities may be completed at times which vary from the closing of the New York Stock Exchange (“NYSE”). In computing their NAV, the Funds value foreign securities using the latest closing price on the primary exchange on which they are traded immediately prior to the closing of the NYSE. Certain foreign currency exchange rates are generally determined at the latest rate prior to the closing of the NYSE. Foreign securities quoted in foreign currencies are translated into U.S. dollars at current rates. Events that affect these values and exchange rates may occur between the times at which they are determined and the closing of the NYSE. If such events materially affect the value of portfolio securities, these securities may be valued at their fair value as determined in good faith by the Trustees, although the actual calculation may be done by others. An event is considered material if there is both an affirmative expectation that the security’s value will change in response to the event and a reasonable basis for quantifying the resulting change in value.

The Trust follows the authoritative guidance (GAAP) for fair value measurements. The guidance establishes a framework for measuring fair value and a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The guidance establishes three tiers of inputs that may be used to measure fair value. The three tiers of inputs are summarized at the end of each Fund’s Portfolio of Investments. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The Funds’ policy is to disclose transfers between levels based on valuations at the beginning of the period. Each portfolio may hold securities which are periodically fair valued in accordance with the Funds’ fair value procedures. This may result in movements between Levels 1, 2 and 3 throughout the period. As of January 31, 2017, there were no transfers between Levels 1, 2 and 3 assets and liabilities, based on levels assigned to securities at the beginning of the period except for the Multi-Manager International Fund. An Australian Security, Arrium Ltd., was transferred from Level 1 to Level 2 at a valuation of $8,913. Additionally, a Bulgarian Security, Petrol AD, was transferred from Level 1 to Level 2 at a valuation of $2,020. They were both transferred due to the application of fair value procedures. This does not include transfers between Level 1 and Level 2 due to the International Fund, Alternatives Fund and the Real Asset Fund utilizing international fair value pricing during the period. Pursuant to the Funds’ fair value procedures noted previously, equity securities (including exchange traded securities and other open-end regulated investment companies) and exchange traded derivatives are generally categorized as Level 1

securities in the fair value hierarchy. Fixed income securities, non-exchange traded derivatives and money market instruments are generally categorized as Level 2 securities in the fair value hierarchy.

Investments for which there are no such quotations, or for which quotations do not appear reliable, are valued at fair value as determined in accordance with procedures established by and under the general supervision of the Trustees. These valuations are typically categorized as Level 2 or Level 3 securities in the fair value hierarchy.

Repurchase Agreements – Repurchase agreements are transactions in which a Fund buys a security from a dealer or bank and agrees to sell the security back at a mutually agreed upon time and price. The repurchase price exceeds the sale price, reflecting the Fund’s return on the transaction. It is each Fund’s policy to require the counterparty to a repurchase agreement to transfer to the Funds’ custodian or sub-custodian eligible securities or cash with a market value (after transaction costs) at least equal to the repurchase price to be paid under the repurchase agreements. The eligible securities are transferred to accounts with the custodian or sub-custodian in which the Funds hold a “securities entitlement” and exercise “control” as those terms are defined in the Uniform Commercial Code. The Funds have established procedures for monitoring the market value of the transferred securities and requiring the transfer of additional eligible securities if necessary to equal at least the repurchase price. These procedures also allow the counterparty to require securities to be transferred from the account to the extent that their market value exceeds the repurchase price or in exchange for other eligible securities of equivalent market value.

The insolvency of the counterparty or other failure to repurchase the securities may delay the disposition of the underlying securities or cause the Funds to receive less than the full repurchase price.

Repurchase agreements are entered into by the Funds under Master Repurchase Agreements (“MRA”) which permit the Funds, under certain circumstances including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables under the MRA with collateral held and/or posted to the counterparty and create one single net payment due to or from the Fund.

Real Estate Investment Trusts – The Funds may invest in real estate investment trusts (“REITs”) that involve risks not associated with investing in stocks. Risks include declines in the value of real estate, general and economic conditions, changes in the value of the underlying property and defaults by borrowers. The value of assets in the real estate industry may go through cycles of relative underperformance and outperformance in comparison to equity securities markets in general. Dividend income is recorded using management’s estimate of the income included in distributions received from REIT investments. The actual amounts of income, return of capital and capital gains are only determined by each REIT after its fiscal year-end and may differ from the estimated amount. Estimates of income are adjusted to the actual amounts when the amounts are determined.

Warrants and Rights – Certain Funds hold warrants and rights acquired either through a direct purchase, including as part of private placement, or pursuant to corporate actions. Warrants and rights entitle the holder to buy a proportionate amount of common stock at a specific price and time through the expiration dates. Such warrants and rights are held as long positions by the Funds until exercised, sold or expired. Equity-linked warrants are purchased in order to own local exposure to certain countries in which the Funds are not locally registered. Warrants and rights are valued at fair value in accordance with the Trustees’ approved fair value procedures.

Swap Agreements – Certain Funds may enter into credit default, interest rate, total return and other forms of swap agreements. A swap agreement is an agreement to exchange the return generated by one instrument for the return generated by another instrument. The swap agreements are valued daily at current market value and any change in value is included in the net unrealized appreciation or depreciation on investments. Payments received or paid by the Fund are recorded as realized gains or losses upon termination or maturity of the swap. Swap agreements outstanding at period end, if any, are listed on the Portfolios of Investments. The Fund may utilize swap agreements in an attempt to gain exposure to the securities in a market without actually purchasing those securities, or to hedge a position.

Interest rate swaps - Interest rate swaps represent an agreement between counterparties to exchange cash flows based on the difference between two interest rates, applied to a notional principal amount for a specified period. The Fund is subject to interest rate risk exposure in the normal course of pursuing its investment objectives. The Fund may use interest rate swaps to either maintain its ability to generate steady cash flow by receiving a stream of fixed rate payments or to increase exposure to prevailing market rates by receiving floating rate payments using interest rate swap contracts. The Fund’s maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from the counterparty over the contract’s remaining life. This risk may be mitigated by having a master netting arrangement between the Fund and the counterparty which may permit the Fund to offset amounts payable by the Fund to the same counterparty against amounts to be received; and by the receipt of collateral from the counterparty by the Fund, to cover the Fund’s exposure to the counterparty. However, there is no assurance that such mitigating factors are easily enforceable. The Real Asset Fund is subject to interest rate risk exposure in the normal course of pursuing its investment objectives. Because the portfolio holds fixed rate bonds, the value of these bonds may decrease if interest rates rise. To help hedge against this risk and to maintain its ability to generate income at prevailing market rates, the portfolio entered into interest rate swap agreements. Additionally, the portfolio invested in interest rate swaps as a risk-neutral substitute for physical securities, to obtain exposure in markets where no physical securities were available, and to refine the risk exposure in the portfolio (i.e. duration, inflation, credit, maturity mix, etc.)

Credit default swap agreements – Credit default swap agreements involve one party making a stream of payments (referred to as the buyer of protection) to another party (the seller of protection) in exchange for the right to receive a specified return in the event of a default or other credit event for the referenced entity, obligation or index. As a seller of protection on credit default swap agreements, a Fund will generally receive from the buyer of protection a fixed rate of income throughout the term of the swap provided that there is no credit event. As the seller, a Fund would effectively add leverage to its portfolio because, in addition to its total net assets, a Fund would be subject to investment exposure on the notional amount of the swap.

If a Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. If a Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Recovery values are estimated by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value.

Credit default swap agreements on corporate issues, sovereign issues of an emerging country or U.S. municipal issues involve one party making a stream of payments to another party in exchange for the right to receive a specified return in the event of a default or other credit event. If a credit event occurs and cash settlement is not elected, a variety of other deliverable obligations may be delivered in lieu of the specific referenced obligation. The ability to deliver other obligations may result in a cheapest-to deliver option (the buyer of protection’s right to choose the deliverable obligation with the lowest value following a credit event). A Fund may use credit default swaps on corporate issues, sovereign issues of an emerging country or U.S. municipal issues to provide a measure of protection against defaults of the issuers (i.e., to reduce risk where a Fund owns or has exposure to the referenced obligation) or to take an active long or short position with respect to the likelihood of a particular issuer’s default.

Credit default swap agreements on credit indices involve one party making a stream of payments to another party in exchange for the right to receive a specified return in the event of a write-down, principal shortfall, interest shortfall or default of all or part of the referenced entities comprising the credit index. A credit index is a basket of credit instruments or exposures designed to be representative of some part of the credit market as a whole. These indices are made up of reference credits that are judged by a poll of dealers to be the most liquid entities in the credit default swap market based on the sector of the index. Components of the indices may include, but are not limited to, investment grade securities, high yield securities, asset-backed securities, emerging markets, and/or various credit ratings within each sector. Credit indices are traded using credit default swaps with standardized terms including a fixed spread and standard maturity dates. An index credit default swap references all the names in the index, and if there is a default, the credit event is settled based on that name’s weight in the index. The composition of the indices changes periodically, usually every six months, and for most indices, each name has an equal weight in the index. A Fund may use credit default swaps on credit indices to hedge a portfolio of credit default swaps or bonds, which is less expensive than it would be to buy many credit default swaps to achieve a similar effect. Credit default swaps on indices are benchmarks for protecting investors owning bonds against default, and traders use them to speculate on changes in credit quality. Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues, sovereign issues of an emerging country or U.S. municipal issues as of period end are disclosed in the footnotes to the Portfolios of Investments and serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/ selling protection and may include upfront payments required to be made to enter into the agreement. For credit default swap agreements on credit indices, the quoted market prices and resulting values serve as the indicator of the current status of the payment/ performance risk. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. The maximum potential amount of future payments (undiscounted) that a Fund as a seller of protection could be required to make under a credit default swap agreement would be an amount equal to the notional amount of the agreement. The Real Asset Fund uses credit default swaps on corporate and sovereign issues to take an active long position with respect to the likelihood of a particular issuer’s default. The portfolio used credit default swaps on credit indices to adjust the portfolio’s overall credit exposure.

Securities Sold Short – Certain Funds may sell securities short. A short sale is a transaction in which the Fund sells a security it does not own in anticipation of a decline in market price. To sell a security short, the Fund must borrow the security. The Fund’s obligation to replace the security borrowed and sold short will be fully collateralized at all times by the proceeds from the short sale retained by the broker and by cash and securities deposited in a segregated account with the Fund’s custodian. If the price of the security sold short increases between the time of the short sale and the time the Fund replaces the borrowed security, the Fund will realize a loss, and if the price declines during the period, the Fund will realize a gain. Any realized gain will be decreased, and any realized loss increased, by the amount of transaction costs. The Funds are required to pay the lender any dividends declared on short positions. Such amounts are recorded on the ex-dividend date as dividends expense on securities sold short on the Statement of Operations, when present.

In accordance with the terms of its prime brokerage agreement, the Funds may be charged a fee on borrowed securities. Such fees are calculated on a daily basis based upon the market value of each borrowed security and a variable rate that is dependent upon the availability of such security. The Funds are required to maintain margin cash balances at the prime broker sufficiently to satisfy its short sales positions on a daily basis. The Fund is charged interest expense at the Fed Funds open rate plus 50 basis points on the amount of any shortfall in the required cash margin. The Funds record these prime broker charges on a net basis as Prime Broker interest expense on securities sold short on the Statement of Operations, when present.

Options – Certain Funds may either purchase or write options in order to hedge against adverse market movements or fluctuations in value caused by changes in prevailing interest rates, value of equities or foreign exchange rates, with respect to securities which the Fund currently owns or intends to purchase. A Fund’s principal reason for writing options is to realize, through receipt of premiums, a greater current return than would be realized on the underlying security alone. When a Fund purchases an option, it pays a premium and an amount equal to that premium is recorded as an asset. When a Fund writes an option, it receives a premium and an amount equal to that premium is recorded as a liability. The asset or liability is adjusted daily to reflect the current market value of the option. If an option expires unexercised, a Fund realizes a gain or loss to the extent of the premium received or paid. If an option is exercised, the premium received or paid is recorded as an adjustment to the proceeds from the sale or the cost of the purchase in determining whether a Fund has realized a gain or loss. The difference between the premium and the amount received or paid on effecting a closing purchase or sale transaction is also treated as a realized gain or loss. Gain or loss on purchased options is included in net realized gain or loss on investment transactions. Gain or loss on written options is presented separately as net realized gain or loss on options written. A Fund, as writer of options, may have no control over whether the underlying securities may be sold (called) or purchased (put). As a result, a Fund bears the market risk of an unfavorable change in the price of the security underlying the written option. A Fund, as purchaser of over-the-counter options, bears the risk of the potential inability of the counterparties to meet the terms of their contracts.

Foreign Currency Translation – The accounting records of the Funds are maintained in U.S. dollars. All assets and liabilities denominated in foreign currencies (“FCs”) are translated into U.S. dollars based on the rates of exchange of such currencies against U.S. dollars on the date of valuation. Purchases and sales of securities, income and expenses are translated at the rate of exchange quoted on the respective date that such transactions are recorded. The Funds do not isolate that portion of results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in the net realized and unrealized gain or loss from investments.

Reported net realized foreign exchange gains or losses arise from sales of portfolio securities, sales and maturities of short-term securities, sales of FCs, currency gains or losses realized between the trade and settlement dates on securities transactions, the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the value of assets and liabilities other than investments in securities at period end, resulting from changes in the exchange rates.

Forward Foreign Currency Contracts – Certain Funds may enter into foreign currency commitments or foreign currency exchange transactions. A Fund may enter into foreign currency contract transactions to protect assets against adverse changes in foreign currency exchange rates or exchange control regulations. Purchased contracts are used to acquire exposure to foreign currencies; whereas, contracts to sell are used to hedge a Fund’s securities against currency fluctuations. Risks may arise upon entering into these transactions from the potential inability of counterparties to meet the terms of their commitments and from unanticipated movements in security prices or foreign exchange rates. The foreign currency transactions are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded for financial statement purposes as unrealized until the settlement date. The International Fund entered into forward foreign currency contracts in connection with settling planned purchases or sales of securities. The Real Asset Fund entered into forward foreign currency contracts in connection with settling planned purchases or sales of securities, to hedge the currency exposure associated with some or all of the portfolio’s securities or as a means to express a view on the direction of a currency’s value as a part of the broader investment strategy.

Futures Contracts – The Funds may invest in financial futures contracts to hedge their existing portfolios, manage cash flows, enhance yield and to potentially reduce transaction costs. Upon entering into a futures contract with a broker, the Fund is required to deposit in a segregated account a specified amount of cash or U.S. government securities. Futures contracts are valued daily and unrealized gains or losses are recorded in a “variation margin” account. Daily, and prior to computing its NAV, the Fund receives from or pays to the broker a specified amount of cash based upon changes in the variation margin account. When a contract is closed, the Fund recognizes a realized gain or loss. Futures contracts have market risks, including the risk that the change in the value of the contract may not correlate with the changes in the value of the underlying securities. The Alternatives Fund used foreign exchange futures contracts to gain exposure to the foreign currency markets both on a long and short strategy. The Real Asset Fund used futures contracts to manage interest rate exposure, adjust duration and curve exposure and to gain exposure to foreign interest rates. The Real Asset Fund also used money market futures during the period in order to adjust the portfolio’s interest rate exposure on the front-end of the yield curve and to adjust the overall duration positioning of the portfolio.

Restricted Securities – Restricted securities are securities that either (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from registration, under the Securities Act of 1933, as amended, or (b) are subject to contractual restrictions on public sales. In some cases, when a security cannot be offered for public sale without first being registered, the issuer of the restricted security has agreed to register such securities for resale, at the issuer’s expense, either upon demand by the Fund or in connection with another registered offering of the securities. Many such restricted securities may be resold in the secondary market in transactions exempt from registration. Restricted securities may be determined to be liquid under criteria established by the Trustees. A Fund will not incur any registration costs upon such resales. The Fund’s restricted securities are valued at the price provided by dealers in the secondary market or, if no market prices are available, at the fair value as determined in accordance with procedures established by and under the general supervision of the Trustees.

Lending of Portfolio Securities – The Trust has entered into an agreement with its custodian whereby the custodian may lend securities owned by the Funds to brokers, dealers and other financial organizations. Any increase or decrease in the fair value of securities loaned and any interest or dividends earned on those securities during the term of the loan would be for the account of the Fund. In exchange for lending securities under the terms of the agreement with their custodian, the Funds receive a lender’s fee. Fees earned by the Funds on securities lending are recorded as income. Loans of securities by the Funds are collateralized by cash, U.S. government securities or money market instruments that are maintained at all times in an amount at least equal to the current market value of the loaned securities plus a margin which varies depending on the type of securities owned. The custodian establishes and maintains the collateral in a segregated account. The Funds have the right under the lending agreement to recover the securities from the borrower on demand. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day.

Investments purchased with cash collateral are presented on the portfolios of investments under the caption “Cash Collateral Invested for Securities on Loan.”

The Funds maintain the risk of any loss on the securities on loan as well as the potential loss on investments purchased with cash collateral received from securities lending.

At January 31, 2017, the Funds listed below had securities with the following values on loan:

Affiliated holdings are securities and mutual funds which are managed by the “Advisor or an affiliate of the Advisor or which are distributed by an affiliate of the Funds’ distributor. Transactions with affiliated companies during the period ended January 31, 2017 are as follows:

Since New York Municipal Bond Fund invests a substantial portion of assets in issuers located in one state, it will be more susceptible to factors adversely affecting issuers of that state than would be a comparable tax-exempt mutual fund that invests nationally.

Multi-Manager International Fund invests in securities of non-U.S. issuers. Although the Fund maintains a diversified investment portfolio, the political or economic developments within a particular country or region may have an adverse effect on the ability of domiciled issuers to meet their obligations. Additionally, political or economic developments may have an effect on the liquidity and volatility of portfolio securities and currency holdings.

Multi-Manager Alternatives Fund uses strategies that include investments that have a low correlation to traditional asset classes. Strategies may include commodities, convertible arbitrage, event driven, long/short, market neutral, merger arbitrage and pairs trading.

Management has evaluated events and transactions for potential recognition or disclosure in the financial statements through the date the financial statements were issued. Management has determined that there are no additional material events that would require recognition or disclosure in a Fund’s financial statements through this date, except as follows:

At a meeting of the Trustees of the Trust on March 15, 2016, WFMC and WTIA recommended and the Trustees approved that each of the Prime Money Market Fund and the Tax-Exempt Money Market Fund (also referred to as “Target Funds”), each a series of the Trust, should be merged into the U.S. Government Money Market Fund (“Acquiring Fund”). The closing for the Prime Money Market Fund merger occurred on August 15, 2016. The closing for the Tax Exempt Money Market Fund merger occurred on August 22, 2016, following shareholder approval. Each Target Fund continued to accept purchases from existing shareholders (including through the reinvestment of dividends and capital gains) up to and including the day of its merger.

Effective February 1, 2017 the Wilmington Multi-Manager Alternatives Fund name will be changed to “Wilmington Global Alpha Equities Fund”.

On March 7, 2017, the Board of Trustees of the Trust approved the liquidation of the Wilmington Strategic Allocation Aggressive Fund and the Wilmington Strategic Allocation Conservative Fund. The liquidation is expected to occur on April 27, 2017. On the liquidation date, each Fund will make a liquidating distribution to its remaining shareholders equal to each shareholder’s proportionate share of the net assets of each Fund, in complete redemption and cancellation of each Fund’s shares held by each remaining shareholder, and each Fund will then dissolve.

Certain Funds may face potential risks associated with the United Kingdom’s vote on June 23, 2016 to leave the European Union (the “EU”), commonly referred to as “Brexit.” There are considerable uncertainties about the repercussions resulting from Brexit, including the impact on trade agreements, regulations, and treaties. Brexit is expected to occur within two years, but the exact time frame is unknown and may change. Brexit may also increase the likelihood that other EU members may decide to leave the EU. These potential consequences may result in increased market volatility and illiquidity in the United Kingdom, the EU and other financial markets, as well as slower economic growth and fluctuations in exchange rates. Any of these events may have a significant adverse effect on global markets and economies, which in turn could negatively impact the value of a Fund’s investments.

Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

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

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


	Level 1		Level 2			Level 3		Total
Other Financial Instruments^!
Financial Futures Contracts	$	126,057	$	—		$	—	$	126,057

Total Assets – Other Financial Instruments	$	126,057	$	—		$	—	$	126,057

Liabilities
Other Financial Instruments^!
Forward Foreign Currency Contracts	$	—	$	(60	)	$	—	$	(60	)

Total Liabilities – Other Financial Instruments	$	—	$	(60	)	$	—	$	(60	)


Underlying Contracts to Buy/Sell	Expiration Date		Number of Contracts		Contract Amount		Contract at Value		Unrealized Appreciation (Depreciation)
LONG POSITIONS:
SGX Nifty 50 Index		February 2017		385	$	6,477,463	$	6,603,520	$	126,057
NET UNREALIZED APPRECIATION (DEPRECIATION) ON FINANCIAL FUTURES CONTRACTS									$	126,057


Underlying Contracts to Buy/Sell	Expiration Date		Number of Contracts		Contract Amount		Contract at Value		Unrealized Appreciation (Depreciation)
SHORT POSITIONS:
E-mini MSCI EAFE Index		March 2017		142	$	12,364,188	$	12,271,640	$	92,548
E-mini MSCI Emerging Markets Index		March 2017		35		1,604,377		1,601,425		2,952
E-mini Russell 2000 Index		March 2017		72		4,950,647		4,894,200		56,447
E-mini S&P 500 Index		March 2017		216		24,757,398		24,564,600		192,798
Euro STOXX 50 Index		March 2017		56		1,977,214		1,933,477		43,737
FTSE 100 Index		March 2017		11		982,329		975,684		6,645
S&P TSX 60 Index		March 2017		25		3,512,355		3,464,180		48,175
Topix Index		March 2017		7		947,831		921,972		25,859
NET UNREALIZED APPRECIATION (DEPRECIATION) ON FINANCIAL FUTURES CONTRACTS									$	469,161


Currency Code		Currency
BRL		Brazilian Real
DKK		Danish Krone
EUR		Euro
GBP		Pound Sterling
JPY		Japanese Yen
MXN		Mexican Peso
NZD		New Zealand Dollar
USD		United States Dollar


Counterparty	Termination Date		Notional Amount		Fixed Rate			Floating Rate	Fair Value			Upfront Premium Paid (Received)			Unrealized Appreciation (Depreciation)
CENTRALLY CLEARED
Chicago Mercantile Exchange#		12/17/26	$	8,100,000		8.04	%	28 Day MXN TIIE	$	5,400		$	(999	)	$	6,399
Chicago Mercantile Exchange#		12/11/31		7,600,000		8.30	%	28 Day MXN TIIE		7,317			(426	)		7,743
Chicago Mercantile Exchange#		6/15/18		1,200,000		1.25	%	3 Month USD LIBOR		(1,260	)		5,605			(6,865	)
Chicago Mercantile Exchange#		12/16/20		500,000		2.00	%	3 Month USD LIBOR		(2,992	)		(12,300	)		9,308
London Clearing House#		12/21/21		300,000		1.50	%	3 Month USD LIBOR		6,544			4,390			2,154
Chicago Mercantile Exchange#		12/16/22		700,000		2.25	%	3 Month USD LIBOR		6,403			4,860			1,543
Chicago Mercantile Exchange#		12/19/23		5,100,000		2.50	%	3 Month USD LIBOR		7,589			(41,002	)		48,591


Counterparty	Termination Date		Notional Amount^(a)		Fixed Rate			Reference Equity/Obligation		Implied Credit Spread at January 31, 2017^(b)			Fair Value^(c)			Upfront Premium Paid (Received)			Unrealized Appreciation (Depreciation)
CENTRALLY CLEARED
Intercontinental Exchange###		12/20/21	$	1,400,000		5.00	%		CDX HY27 5Y ICE		3.50	%	$	(88,263	)	$	(52,564	)	$	(35,699	)
													$	(88,263	)	$	(52,564	)	$	(35,699	)
OVER THE COUNTER
Bank of America NA##		12/20/21	$	200,000		1.00	%		BRAZIL LA SP BOA		2.77	%	$	(12,908	)	$	(15,331	)	$	2,423
Deutsche Bank AG##		6/20/21		100,000		1.00	%		BRAZIL LA SP DUB		2.96	%		(4,908	)		(7,704	)		2,796
Credit Suisse International##		6/20/21		200,000		1.00	%		BRAZIL LA SP FBF		2.59	%		(9,817	)		(12,619	)		2,802
HSBC Bank USA, N.A.##		6/20/21		200,000		1.00	%		BRAZIL LA SP HUS		2.59	%		(9,817	)		(12,657	)		2,840
JP Morgan Chase Bank,
N.A.##		6/20/21		100,000		1.00	%		BRAZIL LA SP JPM		2.60	%		(4,908	)		(6,366	)		1,458
Deutsche Bank AG##		10/17/57		400,000		0.50	%		CMBX.NA.AAA.8 SP DUB		1.18	%		(5,472	)		(20,402	)		14,930
Goldman Sachs International##		10/17/57		400,000		0.50	%		CMBX.NA.AAA.8 SP GST		1.17	%		(5,472	)		(25,533	)		20,061
Barclays Bank PLC##		6/20/21		100,000		1.00	%		COLOMBIA LA SP BRC		1.69	%		(1,429	)		(2,827	)		1,398
Goldman Sachs International##		12/20/21		100,000		1.00	%		COLOMBIA LA SP GST		1.76	%		(2,311	)		(3,435	)		1,124
HSBC Bank USA, N.A.##		6/20/21		100,000		1.00	%		COLOMBIA LA SP HUS		1.71	%		(1,429	)		(2,908	)		1,479
HSBC Bank USA, N.A.##		12/20/21		100,000		1.00	%		COLOMBIA LA SP HUS		1.75	%		(2,311	)		(3,369	)		1,058
Deutsche Bank AG##		6/20/21		200,000		1.00	%		MEXICO LA SP DUB		1.53	%		(3,994	)		(4,321	)		327
JP Morgan Chase Bank, N.A.##		6/20/21		100,000		1.00	%		RUSSIA EM SP JPM		2.37	%		(2,548	)		(5,492	)		2,944
													$	(67,324	)	$	(122,964	)	$	55,640
NET UNREALIZED APPRECIATION (DEPRECIATION) ON CREDIT DEFAULT SWAP CONTRACTS													$	(155,587	)	$	(175,528	)	$	19,941


BKNT – Bank Note		LP – Limited Partnership
CMBS – Commercial Mortgage-Backed Securities		MTN – Medium Term Note
FHLMC – Federal Home Loan Mortgage Corporation		NA – National Association
FNMA – Federal National Mortgage Association		PLC – Public Limited Company
GMTN – Global Medium Term Note		REIT – Real Estate Investment Trust
GNMA – Government National Mortgage Association		TBA – To Be Announced Security
LLC – Limited Liability Corporation


The following acronyms are used throughout this Fund:		GNMA – Government National Mortgage Association
BKNT – Bank Note		LLC – Limited Liability Corporation
CMBS – Commercial Mortgage-Backed Securities		MTN – Medium Term Note
FHLMC – Federal Home Loan Mortgage Corporation		NA – National Association
FNMA – Federal National Mortgage Association		PLC – Public Limited Company
FRN – Floating Rate Note


Description	Value
TOTAL INVESTMENTS – 99.2% (COST $281,958,574)	$	284,646,158
OTHER ASSETS LESS LIABILITIES – 0.8%		2,377,082

TOTAL NET ASSETS – 100.0%	$	287,023,240


Fund	Value of Securities on Loan		Value of Collateral
Large-Cap Strategy Fund	$	10,364,512	$	10,657,310
Multi-Manager International Fund		15,879,417		16,702,579
Multi-Manager Real Asset Fund		2,772,426		2,835,095
Strategic Allocation Moderate Fund		1,919,577		1,962,305
Broad Market Bond Fund		3,976,018		4,063,833
Intermediate-Term Bond Fund		6,441,463		6,578,049
Short-Term Bond Fund		1,133,028		1,160,899


By (Signature and Title)*		/s/ Richard J. Berthy
		Richard J. Berthy
		(Principal Executive Officer)


By (Signature and Title)*		/s/ Christopher W. Roleke
		Christopher W. Roleke
		(Principal Financial Officer)