N-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-01136

Guggenheim Funds Trust

(Exact name of registrant as specified in charter)

702 King Farm Boulevard, Suite 200

Rockville, Maryland 20850

(Address of principal executive offices) (Zip code)

Amy J. Lee, President, Chief Executive Officer and Chief Legal Officer

Guggenheim Funds Trust

702 King Farm Boulevard, Suite 200

Rockville, Maryland 20850

(Name and address of agent for service)

Registrant’s telephone number, including area code: 301-296-5100

Date of fiscal year end: September 30

Date of reporting period: December 31, 2017

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.

Item 1. Schedule of Investments.

Attached hereto. 

Alpha Opportunity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 103.2%
Consumer, Non-cyclical - 29.5%
JM Smucker Co.		28,274	$	3,512,762
Conagra Brands, Inc.		91,222		3,436,333
US Foods Holding Corp.*		105,166		3,357,950
United Rentals, Inc.*,1		18,915		3,251,678
Eli Lilly & Co.1		36,724		3,101,709
United Therapeutics Corp.*		20,032		2,963,735
Pfizer, Inc.1		79,685		2,886,191
Cardinal Health, Inc.1		42,830		2,624,194
Johnson & Johnson1		17,329		2,421,208
Zimmer Biomet Holdings, Inc.1		18,837		2,273,061
Edgewell Personal Care Co.*		38,151		2,265,788
Performance Food Group Co.*		59,880		1,982,028
General Mills, Inc.1		33,213		1,969,199
Celgene Corp.*		16,756		1,748,656
Tyson Foods, Inc. — Class A1		21,076		1,708,631
Horizon Pharma plc*		112,032		1,635,667
Abbott Laboratories		26,676		1,522,399
Bioverativ, Inc.*		28,087		1,514,451
Travelport Worldwide Ltd.		110,951		1,450,129
Darling Ingredients, Inc.*		72,102		1,307,209
Medtronic plc1		14,295		1,154,321
United Natural Foods, Inc.*		22,929		1,129,712
Prestige Brands Holdings, Inc.*		25,409		1,128,414
SpartanNash Co.		42,031		1,121,387
CoreLogic, Inc.*		23,985		1,108,347
USANA Health Sciences, Inc.*		14,578		1,079,501
Humana, Inc.1		4,189		1,039,165
Ingredion, Inc.		7,345		1,026,831
AmerisourceBergen Corp. — Class A1		10,921		1,002,766
Dr Pepper Snapple Group, Inc.1		10,104		980,694
Cardtronics plc — Class A*		50,946		943,520
DaVita, Inc.*,1		11,824		854,284
Sanderson Farms, Inc.		6,152		853,775
TreeHouse Foods, Inc.*		16,050		793,833
Sabre Corp.		38,465		788,532
AbbVie, Inc.		7,989		772,616
Dean Foods Co.		66,032		763,330
Boston Beer Company, Inc. — Class A*		3,923		749,686
Pilgrim's Pride Corp.*		24,076		747,800
Allergan plc		4,517		738,891
Spectrum Brands Holdings, Inc.		6,013		675,861
Baxter International, Inc.1		10,401		672,321
Total Consumer, Non-cyclical				67,058,565
Industrial - 20.6%
Fluor Corp.		70,743		3,653,876
Owens Corning		38,752		3,562,859
Energizer Holdings, Inc.		63,125		3,028,738
Genesee & Wyoming, Inc. — Class A*		36,199		2,849,947
AGCO Corp.		35,758		2,554,194
Greenbrier Companies, Inc.		47,714		2,543,156
Tech Data Corp.*		25,586		2,506,660
Kirby Corp.*		34,632		2,313,418
Regal Beloit Corp.		28,984		2,220,174
Snap-on, Inc.		11,532		2,010,028
Norfolk Southern Corp.1		13,409		1,942,964
Timken Co.		38,166		1,875,859
WestRock Co.1		27,635		1,746,808
Benchmark Electronics, Inc.*		58,692		1,707,937
EnerSys		22,037		1,534,436
Arconic, Inc.1		47,282		1,288,434
Crane Co.		12,618		1,125,778
Trinity Industries, Inc.		26,930		1,008,798
Rexnord Corp.*		35,077		912,703
Applied Industrial Technologies, Inc.		12,292		837,085
L3 Technologies, Inc.1		4,149		820,880
Gibraltar Industries, Inc.*		24,051		793,683
Sanmina Corp.*		23,845		786,885
Ingersoll-Rand plc1		7,674		684,444
Belden, Inc.		8,829		681,334
Vishay Intertechnology, Inc.		31,886		661,635
Louisiana-Pacific Corp.*		24,470		642,582
Owens-Illinois, Inc.*		27,855		617,546
Total Industrial				46,912,841
Technology - 13.2%
CA, Inc.1		97,768		3,253,719
International Business Machines Corp.1		18,922		2,903,013
HP, Inc.1		120,522		2,532,167
NetApp, Inc.1		44,675		2,471,421
DXC Technology Co.		20,421		1,937,953
Convergys Corp.		78,250		1,838,875
First Data Corp. — Class A*		104,833		1,751,759
j2 Global, Inc.		22,450		1,684,424
Western Digital Corp.1		19,477		1,549,006
Xerox Corp.		52,477		1,529,704
CSRA, Inc.		45,517		1,361,869
NCR Corp.*		38,060		1,293,659
Micron Technology, Inc.*,1		28,867		1,187,011
CACI International, Inc. — Class A*		7,374		975,949
Dell Technologies Incorporated — Class V*		10,798		877,661
Cirrus Logic, Inc.*		16,169		838,525
ON Semiconductor Corp.*		39,580		828,805
KLA-Tencor Corp.1		6,858		720,570
Icad, Inc.*		100,329		345,132
Total Technology				29,881,222
Consumer, Cyclical - 10.5%
Southwest Airlines Co.1		58,818		3,849,638
CVS Health Corp.1		44,200		3,204,500
PACCAR, Inc.1		41,304		2,935,888
Tailored Brands, Inc.		117,265		2,559,895
Alaska Air Group, Inc.1		32,989		2,425,022
Lions Gate Entertainment Corp. — Class A*		47,147		1,594,040
JetBlue Airways Corp.*,1		64,089		1,431,748
Walgreens Boots Alliance, Inc.1		15,294		1,110,650
Ralph Lauren Corp. — Class A		9,213		955,296
Lear Corp.1		4,643		820,232
WW Grainger, Inc.		3,401		803,486
Lowe's Companies, Inc.1		8,228		764,711
American Airlines Group, Inc.1		14,171		737,317
Tenneco, Inc.		11,692		684,450
Total Consumer, Cyclical				23,876,873
Financial - 8.9%
Aflac, Inc.1		34,087		2,992,157
VEREIT, Inc. REIT		353,024		2,750,057

Alpha Opportunity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 103.2% (continued)
Financial - 8.9% (continued)
Prudential Financial, Inc.1		21,394	$	2,459,882
Bank of New York Mellon Corp.1		40,443		2,178,260
Mack-Cali Realty Corp. REIT		66,075		1,424,577
Interactive Brokers Group, Inc. — Class A		21,424		1,268,515
U.S. Bancorp1		16,674		893,393
Summit Hotel Properties, Inc. REIT		55,647		847,504
Brixmor Property Group, Inc. REIT		43,161		805,384
LaSalle Hotel Properties REIT		28,545		801,258
Capital One Financial Corp.1		7,441		740,975
E*TRADE Financial Corp.*,1		14,779		732,595
JPMorgan Chase & Co.1		6,580		703,665
Blackhawk Network Holdings, Inc.*		18,583		662,484
OneMain Holdings, Inc.*		17,720		460,543
CNO Financial Group, Inc.		15,349		378,967
Total Financial				20,100,216
Communications - 6.8%
Verizon Communications, Inc.		73,311		3,880,351
Juniper Networks, Inc.1		115,755		3,299,018
ATN International, Inc.		40,377		2,231,233
T-Mobile US, Inc.*,1		27,665		1,757,004
Omnicom Group, Inc.1		22,611		1,646,759
ARRIS International plc*		53,179		1,366,169
ORBCOMM, Inc.*		63,986		651,377
Viavi Solutions, Inc.*		72,070		629,892
Total Communications				15,461,803
Energy - 6.5%
Valero Energy Corp.1		37,007		3,401,314
Chevron Corp.1		24,527		3,070,535
Exxon Mobil Corp.1		35,027		2,929,658
Marathon Petroleum Corp.		42,731		2,819,392
PBF Energy, Inc. — Class A		28,296		1,003,093
HollyFrontier Corp.		17,283		885,235
First Solar, Inc.*		10,630		717,737
Total Energy				14,826,964
Utilities - 6.0%
National Fuel Gas Co.		56,391		3,096,430
Ameren Corp.1		40,733		2,402,840
FirstEnergy Corp.1		74,739		2,288,508
Portland General Electric Co.		43,879		2,000,005
PNM Resources, Inc.		48,390		1,957,375
AES Corp.		177,931		1,926,993
Total Utilities				13,672,151
Basic Materials - 1.2%
LyondellBasell Industries N.V. — Class A		17,766		1,959,945
Huntsman Corp.		21,663		721,161
Total Basic Materials				2,681,106
Total Common Stocks
(Cost $221,295,272)				234,471,741

MONEY MARKET FUND† - 2.9%
Goldman Sachs Financial Square Treasury Instruments Fund - Institutional Class 1.14%2	6,607,947		6,607,947
Total Money Market Fund
(Cost $6,607,947)			6,607,947
Total Investments - 106.1%
(Cost $227,903,219)		$	241,079,688
Other Assets & Liabilities, net - (6.1)%			(13,822,080	)
Total Net Assets - 100.0%		$	227,257,608

Total Return Swap Agreements
Counterparty	Index	Financing Rate Pay (Receive)	Payment Frequency	Maturity Date	Notional Amount	Value and Unrealized Gain (Loss)
OTC Custom Basket Swap Agreements Sold Short††
Morgan Stanley	Alpha Opportunity Portfolio Short Custom Basket Swap4	(1.07)%	At Maturity	02/01/19	$(224,093,508)	$(16,580,407)
OTC Custom Basket Swap Agreements††
Morgan Stanley	Alpha Opportunity Portfolio Long Custom Basket Swap3	1.75%	At Maturity	02/01/19	79,543,062	3,471,012

Alpha Opportunity Fund Schedule of Investments (Unaudited) December 31, 2017

	Shares		Unrealized Gain (Loss)
CUSTOM BASKET OF LONG SECURITIES4
Intel Corp.		55,298	$	659,498
Union Pacific Corp.		27,965		582,285
Cisco Systems, Inc.		83,583		489,084
FedEx Corp.		11,795		461,809
WellCare Health Plans, Inc.*		7,985		454,845
Cummins, Inc.		19,504		428,935
Kroger Co.		74,292		384,328
Principal Financial Group, Inc.		47,172		369,225
Delta Air Lines, Inc.		42,555		341,893
Mylan N.V.*		62,176		325,857
Carlisle Companies, Inc.		23,702		265,714
EMCOR Group, Inc.		18,838		247,033
McKesson Corp.		15,592		232,876
Discover Financial Services		9,979		176,173
Allison Transmission Holdings, Inc.		29,856		175,906
CenterPoint Energy, Inc.		111,812		147,627
Amgen, Inc.		17,820		121,639
Campbell Soup Co.		68,249		95,222
Molson Coors Brewing Co. — Class B		40,717		94,651
Gilead Sciences, Inc.		42,274		94,270
Biogen, Inc.*		4,126		91,180
Northern Trust Corp.		6,926		77,165
Travelers Companies, Inc.		4,950		67,154
Hartford Financial Services Group, Inc.		8,684		52,812
American Financial Group, Inc.		13,918		49,466
Bill Barrett Corp.*		96,912		31,417
AECOM*		23,742		(809	)
Blackline, Inc.*		8,427		(11,635	)
Telephone & Data Systems, Inc.		85,255		(69,655	)
United Continental Holdings, Inc.*		30,460		(79,428	)
Western Union Co.		153,918		(135,335	)
Edison International		19,041		(148,091	)
Versartis, Inc.*		387,703		(148,793	)
Jabil, Inc.		64,445		(165,756	)
Archer-Daniels-Midland Co.		83,247		(166,886	)
Merck & Company, Inc.		25,852		(173,547	)
InterDigital, Inc.		19,950		(359,435	)
Owens & Minor, Inc.		34,196		(465,626	)
PG&E Corp.		58,765		(1,122,056	)
Total Custom Basket of Long Securities				3,471,012

CUSTOM BASKET OF SHORT SECURITIES3
Sensient Technologies Corp.	(29,382	)	246,470
NewMarket Corp.	(3,155	)	224,756
Education Realty Trust, Inc.	(35,290	)	185,722
First Republic Bank	(13,817	)	140,665
SPS Commerce, Inc.*	(14,204	)	119,987
FireEye, Inc.*	(47,719	)	119,575
Balchem Corp.	(25,798	)	116,187
Essex Property Trust, Inc.	(6,927	)	96,123
Terreno Realty Corp.	(69,600	)	94,618
CareTrust REIT, Inc.	(34,893	)	83,938
NVIDIA Corp.	(4,231	)	83,260
Hudson Pacific Properties, Inc.	(58,273	)	73,168
Capitol Federal Financial, Inc.	(97,294	)	62,309
Camden Property Trust	(27,695	)	60,935
Chesapeake Energy Corp.*	(181,453	)	55,657
CoStar Group, Inc.*	(8,567	)	50,410
White Mountains Insurance Group Ltd.	(2,467	)	42,637
Realty Income Corp.	(11,498	)	39,060
Public Storage	(3,064	)	34,448
Trustmark Corp.	(20,207	)	32,083
Extraction Oil & Gas, Inc.*	(46,301	)	30,850
Exponent, Inc.	(11,831	)	27,017
Vail Resorts, Inc.	(2,863	)	26,192
Cannae Holdings, Inc.*	(49,134	)	19,359
American International Group, Inc.	(12,961	)	13,945
People's United Financial, Inc.	(88,472	)	10,741
Healthcare Trust of America, Inc. — Class A	(47,672	)	10,227
Starbucks Corp.	(11,407	)	9,726
Equity LifeStyle Properties, Inc.	(29,094	)	6,582
Physicians Realty Trust	(35,983	)	5,952
Aspen Insurance Holdings Ltd.	(15,715	)	5,235
Healthcare Realty Trust, Inc.	(22,331	)	4,426
Workday, Inc. — Class A*	(5,967	)	4,109
NiSource, Inc.	(23,868	)	(2,696	)
IMAX Corp.*	(45,084	)	(2,768	)
Rexford Industrial Realty, Inc.	(48,866	)	(2,886	)
Semtech Corp.*	(22,054	)	(5,344	)
Kilroy Realty Corp.	(8,866	)	(7,314	)
American Homes 4 Rent — Class A	(64,421	)	(8,291	)
Intuit, Inc.	(4,178	)	(8,752	)
Macerich Co.	(10,095	)	(11,646	)
Commerce Bancshares, Inc.	(12,918	)	(13,277	)
GCP Applied Technologies, Inc.*	(21,992	)	(13,419	)
Bio-Rad Laboratories, Inc. — Class A*	(4,230	)	(16,083	)
Jack in the Box, Inc.	(10,001	)	(16,302	)
MSCI, Inc. — Class A	(20,704	)	(16,439	)
Washington Federal, Inc.	(23,624	)	(17,904	)
Martin Marietta Materials, Inc.	(9,885	)	(24,529	)
Dominion Energy, Inc.	(7,930	)	(26,791	)
On Assignment, Inc.*	(10,577	)	(27,439	)
Jack Henry & Associates, Inc.	(6,722	)	(30,475	)
Federal Realty Investment Trust	(4,927	)	(33,113	)
Ferro Corp.*	(29,432	)	(34,591	)
athenahealth, Inc.*	(8,448	)	(37,099	)
EastGroup Properties, Inc.	(14,600	)	(38,106	)
TransUnion*	(59,709	)	(38,972	)
Douglas Emmett, Inc.	(16,056	)	(39,692	)
First Midwest Bancorp, Inc.	(28,284	)	(39,856	)
PennyMac Mortgage Investment Trust	(56,386	)	(43,806	)
Boston Properties, Inc.	(9,639	)	(45,563	)
Ultimate Software Group, Inc.*	(3,958	)	(46,621	)
WR Grace & Co.	(27,862	)	(49,235	)
Intercontinental Exchange, Inc.	(9,747	)	(49,744	)
PriceSmart, Inc.	(10,693	)	(52,669	)
SEI Investments Co.	(9,783	)	(53,477	)
Bio-Techne Corp.	(5,216	)	(53,626	)
Albemarle Corp.	(24,055	)	(54,995	)
Air Products & Chemicals, Inc.	(20,144	)	(55,769	)
Sun Communities, Inc.	(28,020	)	(57,641	)
DexCom, Inc.*	(12,304	)	(59,374	)
Regency Centers Corp.	(9,745	)	(66,304	)
WD-40 Co.	(6,039	)	(72,166	)
National Instruments Corp.	(21,730	)	(73,545	)
GrubHub, Inc.*	(10,059	)	(73,857	)
Yum! Brands, Inc.	(14,343	)	(75,242	)
Equinix, Inc.	(1,964	)	(77,858	)
Cabot Oil & Gas Corp. — Class A	(24,338	)	(83,645	)
Dril-Quip, Inc.*	(22,484	)	(88,479	)
Ally Financial, Inc.	(36,844	)	(98,370	)
Tyler Technologies, Inc.*	(4,363	)	(99,703	)
Dunkin' Brands Group, Inc.	(11,294	)	(101,234	)
Glacier Bancorp, Inc.	(19,927	)	(107,065	)
Investors Bancorp, Inc.	(120,638	)	(108,386	)
Shake Shack, Inc. — Class A*	(18,791	)	(108,843	)
Extra Space Storage, Inc.	(8,486	)	(110,021	)

Alpha Opportunity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares			Unrealized (Loss)
Vulcan Materials Co.	(21,424	)	$	(115,560	)
Nabors Industries Ltd.	(110,334	)		(115,633	)
Spire, Inc.	(21,534	)		(115,964	)
Howard Hughes Corp.*	(8,710	)		(116,311	)
Carpenter Technology Corp.	(21,529	)		(117,985	)
CyrusOne, Inc.	(20,554	)		(122,132	)
Team, Inc.*	(65,698	)		(122,921	)
Cintas Corp.	(21,711	)		(124,411	)
PTC, Inc.*	(23,744	)		(124,908	)
Lululemon Athletica, Inc.*	(9,907	)		(127,500	)
Alexandria Real Estate Equities, Inc.	(8,654	)		(127,976	)
Royal Gold, Inc.	(37,799	)		(128,832	)
Ingevity Corp.*	(10,834	)		(131,349	)
John Bean Technologies Corp.	(5,842	)		(132,317	)
Pool Corp.	(12,729	)		(132,885	)
CME Group, Inc. — Class A	(8,138	)		(137,891	)
Weatherford International plc*	(186,366	)		(142,325	)
salesforce.com, Inc.*	(7,640	)		(144,393	)
Nike, Inc. — Class B	(30,767	)		(149,386	)
FactSet Research Systems, Inc.	(15,271	)		(150,758	)
RSP Permian, Inc.*	(29,740	)		(156,965	)
Tanger Factory Outlet Centers, Inc.	(96,474	)		(160,195	)
LendingTree, Inc.*	(2,623	)		(162,214	)
Atlassian Corporation plc — Class A*	(16,544	)		(162,441	)
American Tower Corp. — Class A	(8,305	)		(164,716	)
Red Hat, Inc.*	(7,543	)		(165,256	)
McDonald's Corp.	(16,298	)		(165,991	)
Aqua America, Inc.	(25,898	)		(168,479	)
Ollie's Bargain Outlet Holdings, Inc.*	(17,812	)		(178,145	)
MarketAxess Holdings, Inc.	(10,897	)		(181,359	)
Verisk Analytics, Inc. — Class A*	(35,725	)		(184,437	)
Rollins, Inc.	(71,742	)		(187,954	)
Compass Minerals International, Inc.	(47,461	)		(188,019	)
Allegheny Technologies, Inc.*	(54,365	)		(188,542	)
WisdomTree Investments, Inc.	(142,538	)		(191,400	)
Autodesk, Inc.*	(10,191	)		(194,160	)
S&P Global, Inc.	(16,160	)		(196,836	)
SBA Communications Corp.*	(11,004	)		(211,284	)
Callon Petroleum Co.*	(94,366	)		(212,918	)
Covanta Holding Corp.	(107,863	)		(214,496	)
First Industrial Realty Trust, Inc.	(44,401	)		(226,858	)
Marriott International, Inc. — Class A	(5,281	)		(237,437	)
Commercial Metals Co.	(74,597	)		(243,850	)
Alliant Energy Corp.	(57,704	)		(247,301	)
Trex Company, Inc.*	(7,376	)		(251,230	)
Moody's Corp.	(15,774	)		(255,047	)
Crown Castle International Corp.	(12,145	)		(256,513	)
Eaton Vance Corp.	(29,305	)		(263,272	)
Monolithic Power Systems, Inc.	(21,432	)		(266,657	)
Scotts Miracle-Gro Co. — Class A	(19,318	)		(269,066	)
Ecolab, Inc.	(24,761	)		(270,218	)
Matador Resources Co.*	(30,290	)		(271,244	)
Cognex Corp.	(19,540	)		(281,594	)
Atmos Energy Corp.	(36,045	)		(287,589	)
Goldman Sachs Group, Inc.	(10,375	)		(288,854	)
Diamondback Energy, Inc.*	(14,792	)		(292,728	)
Southern Copper Corp.	(65,545	)		(320,312	)
CoreSite Realty Corp.	(12,429	)		(337,513	)
Five Below, Inc.*	(12,919	)		(338,155	)
DCT Industrial Trust, Inc.	(35,230	)		(355,028	)
Cboe Global Markets, Inc.	(28,062	)		(373,090	)
Crocs, Inc.*	(64,470	)		(385,059	)
Parsley Energy, Inc. — Class A*	(91,200	)		(401,125	)
Take-Two Interactive Software, Inc.*	(7,941	)		(401,574	)
Healthcare Services Group, Inc.	(65,185	)		(456,478	)
Adobe Systems, Inc.*	(9,191	)		(517,880	)
International Flavors & Fragrances, Inc.	(21,820	)		(583,010	)
FMC Corp.	(18,882	)		(665,452	)
Copart, Inc.*	(90,561	)		(674,376	)
Total Custom Basket of Short Securities				(16,580,407	)

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is pledged as equity index swap collateral at December 31, 2017.
2	Rate indicated is the 7 day yield as of December 31, 2017.

Alpha Opportunity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

3	Total Return based on the return of the custom short basket of securities +/- financing at a variable rate. Rate indicated is rate effective at December 31, 2017.
4	Total Return based on the return of the custom long basket of securities +/- financing at a variable rate. Rate indicated is rate effective at December 31, 2017.

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	234,471,741	$	—	$	—	$	—	$	234,471,741
Money Market Fund		6,607,947		—		—		—		6,607,947
Custom Basket Swap Agreements		—		—		3,471,012		—		3,471,012
Total Assets	$	241,079,688	$	—	$	3,471,012	$	—	$	244,550,700
Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Custom Basket Swap Agreements	$	—	$	—	$	16,580,407	$	—	$	16,580,407

* Other financial instruments include swaps, which are reported as unrealized gain/loss at period end.

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were no transfers between levels.

Capital Stewardship Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 101.1%
Consumer, Non-cyclical - 25.8%
Johnson & Johnson		49,459	$	6,910,412
Amgen, Inc.		25,899		4,503,836
AbbVie, Inc.		39,034		3,774,978
Cigna Corp.		13,979		2,838,995
Merck & Company, Inc.		46,686		2,627,021
Anthem, Inc.		10,489		2,360,130
Sysco Corp.		38,259		2,323,469
Eli Lilly & Co.		23,362		1,973,155
Humana, Inc.		7,627		1,892,030
Abbott Laboratories		32,074		1,830,463
Dr Pepper Snapple Group, Inc.		18,126		1,759,309
Cardinal Health, Inc.		28,483		1,745,153
Molson Coors Brewing Co. — Class B		21,098		1,731,513
General Mills, Inc.		29,086		1,724,509
Allergan plc		10,309		1,686,346
United Rentals, Inc.*		9,804		1,685,406
Campbell Soup Co.		28,993		1,394,853
Procter & Gamble Co.		14,158		1,300,837
Ingredion, Inc.		9,110		1,273,578
Kimberly-Clark Corp.		9,948		1,200,325
Baxter International, Inc.		17,666		1,141,930
ManpowerGroup, Inc.		8,845		1,115,443
Thermo Fisher Scientific, Inc.		5,611		1,065,417
Becton Dickinson and Co.		4,940		1,057,456
Celgene Corp.*		10,041		1,047,879
Pfizer, Inc.		28,859		1,045,273
Kellogg Co.		14,771		1,004,133
Estee Lauder Companies, Inc. — Class A		5,077		645,997
Constellation Brands, Inc. — Class A		2,235		510,854
Zoetis, Inc.		6,290		453,132
Robert Half International, Inc.		7,185		399,055
Nielsen Holdings plc		10,066		366,402
UnitedHealth Group, Inc.		1,471		324,297
Medtronic plc		3,999		322,919
Moody's Corp.		2,052		302,896
Avery Dennison Corp.		1,959		225,011
ABIOMED, Inc.*		1,168		218,895
West Pharmaceutical Services, Inc.		2,029		200,202
Total Consumer, Non-cyclical				57,983,509
Technology - 16.5%
Apple, Inc.		34,248		5,795,789
Microsoft Corp.		64,569		5,523,232
Intel Corp.		94,116		4,344,395
Oracle Corp.		54,592		2,581,110
NVIDIA Corp.		11,628		2,250,018
DXC Technology Co.		20,673		1,961,868
Texas Instruments, Inc.		18,510		1,933,184
HP, Inc.		84,759		1,780,786
CA, Inc.		50,029		1,664,965
Applied Materials, Inc.		31,472		1,608,849
Adobe Systems, Inc.*		8,114		1,421,897
Lam Research Corp.		6,885		1,267,322
IPG Photonics Corp.*		5,540		1,186,280
Xilinx, Inc.		15,415		1,039,279
NetApp, Inc.		17,584		972,747
KLA-Tencor Corp.		4,704		494,249
Veeva Systems, Inc. — Class A*		8,141		450,035
Accenture plc — Class A		2,812		430,489
QUALCOMM, Inc.		5,848		374,389
Total Technology				37,080,883
Financial - 16.5%
JPMorgan Chase & Co.		44,016		4,707,071
Citigroup, Inc.		44,714		3,327,169
Visa, Inc. — Class A		28,530		3,252,991
Mastercard, Inc. — Class A		19,449		2,943,801
Prudential Financial, Inc.		22,780		2,619,244
Capital One Financial Corp.		19,964		1,988,015
Principal Financial Group, Inc.		26,815		1,892,066
Lincoln National Corp.		19,654		1,510,803
Aflac, Inc.		17,053		1,496,912
PNC Financial Services Group, Inc.		9,419		1,359,067
Travelers Companies, Inc.		9,715		1,317,743
Alliance Data Systems Corp.		5,069		1,284,890
BlackRock, Inc. — Class A		2,361		1,212,869
SEI Investments Co.		15,989		1,148,970
Progressive Corp.		18,980		1,068,954
MetLife, Inc.		18,214		920,900
T. Rowe Price Group, Inc.		7,878		826,638
Morgan Stanley		14,797		776,399
Allstate Corp.		6,331		662,919
Hospitality Properties Trust REIT		19,660		586,851
Comerica, Inc.		6,744		585,447
Northern Trust Corp.		3,843		383,877
State Street Corp.		3,326		324,651
U.S. Bancorp		4,657		249,522
KeyCorp		10,856		218,966
WP Carey, Inc. REIT		3,028		208,629
American Express Co.		1,917		190,377
Total Financial				37,065,741
Industrial - 16.1%
FedEx Corp.		11,856		2,958,546
Cummins, Inc.		16,143		2,851,499
Caterpillar, Inc.		16,065		2,531,523
3M Co.		9,666		2,275,086
Union Pacific Corp.		15,184		2,036,175
Oshkosh Corp.		20,513		1,864,426
Ingersoll-Rand plc		19,113		1,704,689
Fluor Corp.		31,547		1,629,403
Lockheed Martin Corp.		4,882		1,567,366
Norfolk Southern Corp.		9,788		1,418,281
Deere & Co.		8,782		1,374,471
Energizer Holdings, Inc.		28,091		1,347,806
Landstar System, Inc.		11,806		1,229,005
Arconic, Inc.		43,224		1,177,854
Raytheon Co.		6,051		1,136,680
Universal Display Corp.		6,554		1,131,548
Boeing Co.		3,828		1,128,916
Rockwell Automation, Inc.		5,588		1,097,204
Johnson Controls International plc		28,334		1,079,809
Vishay Intertechnology, Inc.		42,676		885,527
United Parcel Service, Inc. — Class B		6,181		736,466
Illinois Tool Works, Inc.		3,295		549,771
Eagle Materials, Inc.		4,014		454,786
Northrop Grumman Corp.		1,354		415,556

Capital Stewardship Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 101.1% (continued)
Industrial - 16.1% (continued)
Republic Services, Inc. — Class A	5,816	$	393,220
General Electric Co.	18,261		318,654
Corning, Inc.	9,392		300,450
Sonoco Products Co.	4,868		258,686
Bemis Company, Inc.	4,631		221,315
Total Industrial			36,074,718
Communications - 11.2%
Cisco Systems, Inc.	131,230		5,026,109
Alphabet, Inc. — Class A*	4,528		4,769,795
Facebook, Inc. — Class A*	20,766		3,664,369
Comcast Corp. — Class A	61,768		2,473,808
Amazon.com, Inc.*	1,959		2,290,992
AT&T, Inc.	49,051		1,907,103
Omnicom Group, Inc.	22,857		1,664,675
eBay, Inc.*	30,891		1,165,826
FactSet Research Systems, Inc.	5,027		969,005
Juniper Networks, Inc.	13,428		382,698
Walt Disney Co.	3,038		326,615
Expedia, Inc.	2,670		319,786
Netflix, Inc.*	1,017		195,223
Total Communications			25,156,004
Consumer, Cyclical - 8.4%
Ford Motor Co.	225,936		2,821,941
CVS Health Corp.	26,391		1,913,348
Southwest Airlines Co.	26,320		1,722,644
Kohl's Corp.	26,332		1,427,984
Alaska Air Group, Inc.	18,776		1,380,224
General Motors Co.	30,671		1,257,204
Lear Corp.	6,842		1,208,708
WW Grainger, Inc.	4,923		1,163,059
Darden Restaurants, Inc.	10,008		960,968
Las Vegas Sands Corp.	11,699		812,964
Best Buy Company, Inc.	9,197		629,719
Tapestry, Inc.	13,976		618,158
Pool Corp.	4,601		596,519
Goodyear Tire & Rubber Co.	16,162		522,194
Delta Air Lines, Inc.	6,699		375,144
Tractor Supply Co.	3,952		295,412
Whirlpool Corp.	1,715		289,218
L Brands, Inc.	4,659		280,565
Tupperware Brands Corp.	3,966		248,668
Lowe's Companies, Inc.	2,569		238,763
Nike, Inc. — Class B	2,999		187,587
Total Consumer, Cyclical			18,950,991
Utilities - 2.8%
NextEra Energy, Inc.	9,372		1,463,812
WEC Energy Group, Inc.	16,391		1,088,854
Entergy Corp.	13,069		1,063,686
Sempra Energy	8,153		871,719
PG&E Corp.	13,213		592,339
Pinnacle West Capital Corp.	4,016		342,083
Exelon Corp.	7,876		310,393
Xcel Energy, Inc.	5,988		288,083
American Electric Power Company, Inc.	2,965		218,135
Total Utilities			6,239,104
Energy - 2.1%
Chevron Corp.	26,541		3,322,668
Occidental Petroleum Corp.	11,010		810,996
ConocoPhillips	12,620		692,712
Total Energy			4,826,376
Basic Materials - 1.7%
Air Products & Chemicals, Inc.	7,078		1,161,358
Praxair, Inc.	7,117		1,100,858
Eastman Chemical Co.	11,227		1,040,069
International Flavors & Fragrances, Inc.	3,208		489,573
Total Basic Materials			3,791,858
Total Common Stocks
(Cost $205,923,599)			227,169,184

EXCHANGE-TRADED FUND† - 0.5%
SPDR S&P 500 ETF Trust	4,306	1,149,100
Total Exchange-Traded Fund
(Cost $1,112,369)		1,149,100

MONEY MARKET FUND† - 0.7%
Dreyfus Treasury Prime Cash Management Institutional Shares 1.11%1	1,553,669		1,553,669
Total Money Market Fund
(Cost $1,553,669)			1,553,669
Total Investments - 102.3%
(Cost $208,589,637)		$	229,871,953
Other Assets & Liabilities, net - (2.3)%			(5,104,109	)
Total Net Assets - 100.0%		$	224,767,844

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
1	Rate indicated is the 7 day yield as of December 31, 2017.

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

Capital Stewardship Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	227,169,184	$	—	$	—	$	227,169,184
Exchange-Traded Fund		1,149,100		—		—		1,149,100
Money Market Fund		1,553,669		—		—		1,553,669
Total Assets	$	229,871,953	$	—	$	—	$	229,871,953

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were no transfers between levels.

Diversified Income Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
EXCHANGE-TRADED FUNDS† - 9.5%
Guggenheim S&P High Income Infrastructure ETF1		21,275	$	586,782
Total Exchange-Traded Funds
(Cost $447,192)				586,782

MUTUAL FUNDS† - 78.4%
Guggenheim High Yield Fund - Institutional Class1	222,338	2,074,422
Guggenheim Limited Duration Fund - Institutional Class1	66,553	1,649,187
Guggenheim Investment Grade Bond Fund - Institutional Class1	22,170	412,814
Guggenheim World Equity Income Fund - Institutional Class1	25,030	382,966
Guggenheim Risk Managed Real Estate Fund - Institutional Class1	9,820	291,839
Total Mutual Funds
(Cost $4,557,727)		4,811,228

CLOSED-END FUNDS† - 9.1%
BlackRock Enhanced Capital and Income Fund, Inc.	1,076	17,625
Royce Value Trust, Inc.	1,000	16,170
Aberdeen Income Credit Strategies Fund	1,134	15,910
Neuberger Berman High Yield Strategies Fund, Inc.	1,346	15,829
Eaton Vance Tax-Managed Diversified Equity Income Fund	1,250	15,237
Eaton Vance Tax-Advantaged Global Dividend Income Fund	850	14,730
Western Asset High Income Fund II, Inc.	2,108	14,693
Reaves Utility Income Fund	467	14,449
Eaton Vance Enhanced Equity Income Fund II	946	14,398
New America High Income Fund, Inc.	1,517	14,260
PIMCO Income Strategy Fund II	1,364	14,227
AllianzGI Diversified Income & Convertible Fund	650	14,196
First Trust Strategic High Income Fund II	1,100	14,157
Brookfield Real Assets Income Fund, Inc.	600	14,022
John Hancock Investors Trust	798	13,965
BlackRock Multi-Sector Income Trust	766	13,903
PIMCO Corporate & Income Strategy Fund	800	13,760
Virtus Total Return Fund, Inc.	1,050	13,545
Western Asset Global Corporate Defined Opportunity Fund, Inc.	750	13,500
PIMCO Dynamic Credit and Mortgage Income Fund	600	13,464
Ivy High Income Opportunities Fund	890	13,457
AllianceBernstein Global High Income Fund, Inc.	1,050	13,398
Flaherty & Crumrine Dynamic Preferred and Income Fund, Inc.	500	13,335
Calamos Strategic Total Return Fund	1,100	13,288
Voya Global Advantage and Premium Opportunity Fund	1,150	13,145
Western Asset Premier Bond Fund	951	13,133
DoubleLine Income Solutions Fund	650	13,123
Invesco Dynamic Credit Opportunities Fund	1,120	13,115
Pioneer High Income Trust	1,350	13,109
Tortoise Energy Infrastructure Corp.	450	13,086
BlackRock Credit Allocation Income Trust	978	13,027
Flaherty & Crumrine Total Return Fund, Inc.	600	12,966
Barings Global Short Duration High Yield Fund	665	12,887
Cohen & Steers Total Return Realty Fund, Inc.	1,000	12,770
BlackRock Corporate High Yield Fund, Inc.	1,150	12,581
BlackRock Floating Rate Income Trust	900	12,528
Cohen & Steers Infrastructure Fund, Inc.	500	12,000
First Trust Energy Income and Growth Fund	450	11,929
Eaton Vance Tax-Managed Buy-Write Income Fund	700	11,711
Nuveen Short Duration Credit Opportunities Fund	700	11,641
Legg Mason BW Global Income Opportunities Fund, Inc.	900	11,493
Total Closed-End Funds
(Cost $521,437)		559,762

MONEY MARKET FUND† - 1.9%
Goldman Sachs Financial Square Treasury Instruments Fund - Institutional Class 1.14%2	117,627		117,627
Total Money Market Fund
(Cost $117,627)			117,627
Total Investments - 98.9%
(Cost $5,643,983)		$	6,075,399
Other Assets & Liabilities, net - 1.1%			64,651
Total Net Assets - 100.0%		$	6,140,050

Diversified Income Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

†	Value determined based on Level 1 inputs — See Note 3.
1	Affiliated issuer.
2	Rate indicated is the 7 day yield as of December 31, 2017.

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Closed-End Funds	$	559,762	$	—	$	—	$	559,762
Exchange-Traded Funds		586,782		—		—		586,782
Money Market Fund		117,627		—		—		117,627
Mutual Funds		4,811,228		—		—		4,811,228
Total Assets	$	6,075,399	$	—	$	—	$	6,075,399

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were no transfers between levels.

Affiliated Transactions

Investments representing 5% or more of the outstanding voting shares of a portfolio company of a fund, or control of or by, or common control under the advisor, result in that portfolio company being considered an affiliated company of such fund, as defined in the 1940 Act.

Transactions during the period ended December 31, 2017, in which the portfolio company is an "affiliated person", were as follows:
Security Name	Value 09/30/17		Additions		Reductions		Realized Gain		Change in Unrealized			Value 12/31/17		Shares 12/31/17		Investment Income		Capital Gains Distributions
Guggenheim High Yield Fund - Institutional Class	$	2,038,895	$	46,528	$	–	$	–	$	(11,001	)	$	2,074,422		222,338	$	31,165	$	–
Guggenheim Investment Grade Bond Fund - Institutional Class		407,346		3,259		–		–		2,209			412,814		22,170		3,227		–
Guggenheim Limited Duration Fund - Institutional Class		1,605,844		47,995		–		–		(4,652	)		1,649,187		66,553		12,890		–
Guggenheim Risk Managed Real Estate Fund - Institutional Class		283,359		11,495		–		–		(3,015	)		291,839		9,820		1,654		9,841
Guggenheim S&P High Income Infrastructure ETF		612,720		–		–		–		(25,938	)		586,782		21,275		17,127		12,565
Guggenheim World Equity Income Fund - Institutional Class		367,974		1,011		–		–		13,981			382,966		25,030		1,012		–
	$	5,316,138	$	110,288	$	–	$	–	$	(28,416	)	$	5,398,010			$	67,075	$	22,406

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 0.0%
Consumer, Non-cyclical - 0.0%
Targus Group International, Inc*,†††,1,2		12,773	$	24,649
Energy - 0.0%
Titan Energy LLC*		10,110		15,367
Total Common Stocks
(Cost $317,261)				40,016

MUTUAL FUNDS† - 0.7%
Guggenheim Strategy Fund I2	754,480	18,907,260
Guggenheim Strategy Fund II2	296,179	7,407,445
Total Mutual Funds
(Cost $26,144,961)		26,314,705

MONEY MARKET FUND† - 2.1%
Federated U.S. Treasury Cash Reserve Fund - Institutional Shares 1.05%3	73,769,953	73,769,953
Total Money Market Fund
(Cost $73,769,953)		73,769,953

		Face Amount~
SENIOR FLOATING RATE INTERESTS††,6 - 85.3%
Industrial - 17.8%
Flex Acquisition Company, Inc.
4.34% (3 Month USD LIBOR + 3.00%) due 12/29/23		36,576,911	36,737,118
VC GB Holdings, Inc.
4.82% (1 Month USD LIBOR + 3.25%) due 02/28/24		34,039,380	34,209,577
BWAY Holding Co.
4.60% (3 Month USD LIBOR + 3.25%) due 04/03/24		27,562,744	27,661,143
DAE Aviation
5.32% (1 Month USD LIBOR + 3.75%) due 07/07/22		27,333,758	27,516,074
Quikrete Holdings, Inc.
4.32% (1 Month USD LIBOR + 2.75%) due 11/15/23		25,480,769	25,512,620
Engineered Machinery Holdings, Inc.
4.94% (3 Month USD LIBOR + 3.25%) due 07/19/24		24,555,310	24,555,310
TransDigm Group, Inc.
4.32% (1 Month USD LIBOR + 2.75%) due 05/14/22		12,752,065	12,782,670
4.36% (3 Month USD LIBOR + 2.75%) due 06/09/23		11,510,847	11,523,624
Travelport Finance SARL
4.17% (3 Month USD LIBOR + 2.75%) due 09/02/21		23,201,389	23,186,540
Filtration Group Corp.
4.38% (3 Month USD LIBOR + 3.00%) due 11/23/20		20,627,835	20,782,544
Charter Nex US, Inc.
4.82% (1 Month USD LIBOR + 3.25%) due 05/16/24		19,426,313	19,450,595
Cartrawler
3.75% (1 Month EURIBOR + 3.75%) due 04/29/21	EUR	16,068,477	19,085,534
GYP Holdings III Corp.
4.38% (3 Month USD LIBOR + 3.00%) due 04/01/23		18,383,581	18,452,519
Reynolds Group Holdings, Inc.
4.32% (1 Month USD LIBOR + 2.75%) due 02/05/23		17,325,094	17,396,993
Advanced Disposal Services, Inc.
3.74% (1 Week USD LIBOR + 2.25%) due 11/10/23		16,834,701	16,864,835
Brickman Group Holdings, Inc.
4.43% (1 Month USD LIBOR + 3.00%) and (3 Month USD LIBOR + 3.00%) due 12/18/20		15,787,014	15,860,582
Arctic Long Carriers
6.07% (1 Month USD LIBOR + 4.50%) due 05/18/23		15,377,725	15,483,524
Hayward Industries, Inc.
5.07% (1 Month USD LIBOR + 3.50%) due 08/05/24		14,413,875	14,431,892
9.82% (1 Month USD LIBOR + 8.25%) due 08/04/25		500,000	495,000
CHI Overhead Doors, Inc.
4.94% (3 Month USD LIBOR + 3.25%) due 07/29/22		14,322,031	14,313,151
RBS Global, Inc.
3.80% (1 Month USD LIBOR + 2.25%) due 08/21/24		12,894,138	12,942,491
TMF Group Holding BV
3.50% (3 Month EURIBOR + 3.50%) due 10/13/23	EUR	10,750,000	12,886,716
Engility Corp.
4.82% (1 Month USD LIBOR + 3.25%) and (Commercial Prime Lending Rate + 2.25%) and due 08/14/23		12,359,627	12,467,774
American Builders & Contractors Supply Co., Inc.
4.07% (1 Month USD LIBOR + 2.50%) due 10/31/23		11,939,850	11,982,355
American Bath Group LLC
6.94% (3 Month USD LIBOR + 5.25%) due 09/30/23		10,889,724	10,966,824
Argo Merchants
5.32% (1 Month USD LIBOR + 3.75%) due 12/06/24		10,750,000	10,803,750
Imagine Print Solutions LLC
6.45% (3 Month USD LIBOR + 4.75%) due 06/21/22		10,696,250	10,428,844
Zodiac Pool Solutions LLC
5.69% (3 Month USD LIBOR + 4.00%) due 12/20/23		10,030,618	10,074,553
Hanjin International Corp.
3.85% (3 Month USD LIBOR + 2.50%) due 10/19/20		9,750,000	9,774,375

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
SENIOR FLOATING RATE INTERESTS††,6 - 85.3% (continued)
Industrial - 17.8% (continued)
Sapphire Bidco B.V.
3.25% (3 Month EURIBOR + 3.25%) due 12/06/24	EUR	8,100,000	$	9,725,345
Wrangler Buyer Corp.
4.57% (1 Month USD LIBOR + 3.00%) due 09/27/24		9,350,000		9,403,388
Befesa
2.75% (3 Month EURIBOR + 2.75%) due 11/19/22	EUR	6,250,000		7,531,344
CPM Holdings, Inc.
5.82% (1 Month USD LIBOR + 4.25%) due 04/11/22		6,663,793		6,744,292
CPG International LLC
5.59% (3 Month USD LIBOR + 3.75%) due 05/05/24		6,699,375		6,710,563
Kuehg Corp. (Kindercare)
5.44% (3 Month USD LIBOR + 3.75%) due 08/12/22		6,555,123		6,563,317
Duran Group Holding GMBH
4.00% (3 Month EURIBOR + 4.00%) due 03/29/24	EUR	4,003,529		4,755,242
4.00% (3 Month EURIBOR + 4.00%) due 12/20/24	EUR	1,350,000		1,603,479
Crosby Worldwide
4.45% (3 Month USD LIBOR + 3.00%) due 11/23/20		6,455,027		6,280,225
NVA Holdings, Inc.
5.19% (3 Month USD LIBOR + 3.50%) due 08/14/21		6,131,426		6,172,323
Corialis Group Ltd.
3.50% (6 Month EURIBOR + 3.50%) due 03/29/24	EUR	5,075,000		6,104,857
Thermasys Corp.
5.35% (3 Month USD LIBOR + 4.00%) due 05/03/19		6,099,844		5,694,204
Berlin Packaging LLC
4.77% (1 Month USD LIBOR + 3.25%) and (3 Month USD LIBOR + 3.25%) due 10/01/21		5,594,512		5,627,128
Recess Holdings, Inc.
5.25% (6 Month USD LIBOR + 3.75%) due 09/30/24		5,109,524		5,128,684
Hardware Holdings LLC
8.19% (3 Month USD LIBOR + 6.50%) due 03/30/20		5,109,375		4,956,094
Consolidated Container Co. LLC
5.07% (1 Month USD LIBOR + 3.50%) due 05/22/24		3,740,625		3,753,081
Thor Bidco (Morrison Utility)
5.53% (3 Month USD LIBOR + 5.00%) due 09/20/23	GBP	2,550,000		3,442,643
Hillman Group, Inc.
5.19% (3 Month USD LIBOR + 3.50%) due 06/30/21		3,413,841		3,430,910
Survitec
4.25% (6 Month EURIBOR + 4.25%) due 03/12/22	EUR	2,700,000		3,101,680
Signode Industrial Group US, Inc.
4.38% (1 Month USD LIBOR + 2.75%) and (3 Month USD LIBOR + 2.75%) due 05/01/21		2,166,667		2,168,032
7.50% (1 Month USD LIBOR + 3.00%) due 05/01/19		798,000		771,418
SIG Onex Wizard Acquisition
4.57% (1 Month USD LIBOR + 3.00%) due 03/11/22		2,660,272		2,670,248
Learning Care Group (US), Inc.
5.36% (2 Month USD LIBOR + 4.00%) due 05/05/21		2,632,852		2,639,435
SI Organization
6.44% (3 Month USD LIBOR + 4.75%) due 11/23/19		2,385,831		2,403,724
Doncasters Group Ltd.
9.94% (3 Month USD LIBOR + 8.25%) due 10/09/20		2,348,621		2,193,612
EXC Holdings III Corp.
5.16% (6 Month USD LIBOR + 3.50%) due 12/02/24		2,025,000		2,038,284
Ceva Group plc (United Kingdom)
5.75% (3 Month USD EURIBOR + 4.75%) due 03/19/19	EUR	1,740,000		1,806,638
Tank Holdings Corp.
5.59% (1 Month USD LIBOR + 4.25%), (2 Month USD LIBOR + 4.25%) and (3 Month USD LIBOR + 4.25%) due 03/16/22		1,660,870		1,669,174
Wencor Group
5.13% (1 Month LIBOR + 3.50%) and (Commercial Prime Lending Rate + 2.50%) due 06/19/19†††,1		1,403,077		1,354,752
Pro Mach Group, Inc.
5.32% (1 Month USD LIBOR + 3.75%) due 10/22/21		943,444		946,274
Pexco LLC
4.83% (2 Month USD LIBOR + 3.50%) due 05/08/24		820,875		819,849
Atkore International, Inc.
4.70% (3 Month USD LIBOR + 3.00%) due 12/22/23		593,428		596,395
NANA Development Corp.
8.37% (3 Month USD LIBOR + 6.75%) due 03/15/18		154,259		152,716
Total Industrial				627,588,877
Consumer, Non-cyclical - 15.8%
MPH Acquisition Holdings LLC
4.69% (3 Month USD LIBOR + 3.00%) due 06/07/23		35,479,425		35,528,741

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~			Value
SENIOR FLOATING RATE INTERESTS††,6 - 85.3% (continued)
Consumer, Non-cyclical - 15.8% (continued)
Albertson's LLC
4.32% (1 Month USD LIBOR + 2.75%) due 08/25/21			21,807,356	$	21,353,763
4.67% (3 Month USD LIBOR + 3.00%) due 12/21/22			6,252,829		6,120,644
4.46% (3 Month USD LIBOR + 3.00%) due 06/22/23			3,482,500		3,407,034
CHG Healthcare Services, Inc.
4.48% (3 Month USD LIBOR + 3.00%) due 06/07/23			30,371,751		30,590,124
Chobani LLC
5.07% (1 Month USD LIBOR + 3.50%) due 10/10/23			28,077,825		28,276,616
Examworks Group, Inc.
4.82% (1 Month USD LIBOR + 3.25%) due 07/27/23			27,500,929		27,649,984
Smart & Final Stores LLC
5.19% (3 Month USD LIBOR + 3.50%) due 11/15/22			28,140,447		27,425,117
Sterigenics-Norion Holdings
4.57% (1 Month USD LIBOR + 3.00%) due 05/15/22			27,423,590		27,400,828
DJO Finance LLC
4.70% (1 Month USD LIBOR + 3.25%) due 06/08/20			23,685,810		23,334,787
Dole Food Company, Inc.
4.31% (1 Month USD LIBOR + 2.75%) and (Commercial Prime Lending Rate + 1.75%) due 04/06/24			22,569,313		22,610,163
Diamond (BC) B.V.
4.42% (2 Month USD LIBOR + 3.00%) due 09/06/24			10,950,000		10,956,570
3.25% (2 Month EURIBOR + 3.25%) due 09/06/24		EUR	9,100,000		10,897,400
PPDI LLC
4.38% (1 Month USD LIBOR + 2.75%) and (3 Month USD LIBOR + 2.75%) due 08/18/22			21,824,397		21,844,257
JBS USA Lux SA
4.10% (3 Month USD LIBOR + 2.50%) due 10/30/22			21,011,225		20,627,770
Hearthside Group Holdings LLC
4.57% (1 Month USD LIBOR + 3.00%) due 06/02/21			17,403,759		17,483,468
American Tire Distributors, Inc.
5.82% (1 Month USD LIBOR + 4.25%) due 09/01/21			17,071,914		17,178,614
AI Aqua Zip Bidco Pty Ltd.
5.07% (1 Month USD LIBOR + 3.50%) due 12/13/23			16,420,000		16,502,100
Change Healthcare Holdings, Inc.
4.32% (1 Month USD LIBOR + 2.75%) due 03/01/24			14,748,550		14,768,903
US Foods, Inc.
4.07% (1 Month USD LIBOR + 2.50%) due 06/27/23			13,251,951		13,318,211
Hostess Brands LLC
3.82% (1 Month USD LIBOR + 2.25%) due 08/03/22			12,352,303		12,354,280
Authentic Brands
5.19% (3 Month USD LIBOR + 3.50%) due 09/27/24			12,019,875		12,064,950
Grifols Worldwide Operations USA, Inc.
3.74% (1 Week USD LIBOR + 2.25%) due 01/31/25			10,917,500		10,934,095
Lineage Logistics LLC
5.07% (1 Month USD LIBOR + 3.50%) due 04/07/21			10,658,166		10,681,508
Immucor, Inc.
6.57% (1 Month USD LIBOR + 5.00%) due 06/15/21			10,497,250		10,654,709
PAREXEL International Corp.
4.57% (1 Month USD LIBOR + 3.00%) due 09/27/24			10,586,468		10,628,390
INC Research Holdings, Inc.
3.82% (1 Month USD LIBOR + 2.25%) due 08/01/24			10,171,875		10,178,283
Endo Luxembourg Finance Co.
5.88% (1 Month USD LIBOR + 4.25%) due 04/29/24			9,253,500		9,299,767
CPI Holdco LLC
5.19% (3 Month USD LIBOR + 4.00%) due 03/21/24			9,104,258		9,172,540
CTI Foods Holding Co. LLC
8.82% (1 Month USD LIBOR + 7.25%) due 06/28/21			7,420,000		5,490,800
5.07% (1 Month USD LIBOR + 3.50%) due 06/29/20			3,662,453		3,332,833
ADMI Corp.
5.19% (3 Month USD LIBOR + 3.75%) due 04/29/22			7,918,782		7,983,161
Reddy Ice Holdings, Inc.
6.88% (1 Month USD LIBOR + 3.75%) and (Commercial Prime Lending Rate + 4.50%) due 05/01/19			4,669,637		4,622,941
10.85% (3 Month USD LIBOR + 9.50%) due 11/01/19			2,000,000		1,863,340
Avantor, Inc.
5.51% (1 Month USD LIBOR + 4.00%) due 11/21/24			4,650,000		4,669,391
Equian LLC
5.23% (1 Month USD LIBOR + 3.75%) and (3 Month USD LIBOR + 3.75%) due 05/20/24			4,314,188		4,349,262
Grocery Outlet, Inc.
5.19% (3 Month USD LIBOR + 3.50%) due 10/21/21			3,900,633		3,898,215

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~			Value
SENIOR FLOATING RATE INTERESTS††,6 - 85.3% (continued)
Consumer, Non-cyclical - 15.8% (continued)
Nellson Nutraceutical
5.94% (3 Month USD LIBOR + 5.00%) due 12/23/21			3,634,235	$	3,634,235
5.94% (3 Month LIBOR + 5.00%) due 12/23/21			2,129,275		2,129,275
Global Healthcare Exchange LLC
4.69% (3 Month USD LIBOR + 3.25%) due 06/28/24			3,582,000		3,592,459
Surgery Center Holdings, Inc.
4.82% (1 Month USD LIBOR + 3.25%) due 09/02/24			3,351,600		3,312,487
Stratose Intermediate Holdings II LLC
4.82% (1 Month USD LIBOR + 3.25%) due 06/22/23			3,283,500		3,291,709
Amplify Snack Brands, Inc.
6.88% (1 Month USD LIBOR + 5.50%) due 09/02/23			2,942,551		2,946,964
Valeant Pharmaceuticals International, Inc.
4.94% (1 Month USD LIBOR + 3.50%) due 04/01/22			2,415,377		2,448,033
Arctic Glacier Group Holdings, Inc.
5.82% (1 Month USD LIBOR + 4.25%) due 03/20/24			2,406,813		2,430,881
BCPE Eagle Buyer LLC
5.82% (1 Month USD LIBOR + 4.25%) due 03/18/24			2,144,598		2,090,983
NES Global Talent
6.88% (3 Month USD LIBOR + 5.50%) due 10/03/19			1,525,079		1,372,571
Acadia Healthcare Company, Inc.
4.14% (1 Month USD LIBOR + 2.75%) due 02/16/23			1,323,000		1,329,615
Catalent Pharma Solutions, Inc.
3.82% (1 Month USD LIBOR + 2.25%) due 05/20/24			1,023,044		1,026,082
Jacobs Douwe Egberts
3.69% (3 Month USD LIBOR + 2.25%) due 07/04/22			702,749		704,801
Rite Aid Corp.
6.24% (1 Week USD LIBOR + 4.75%) due 08/21/20			500,000		501,460
Targus Group International, Inc.
15.00% (Prime Rate + 10.50%) due 05/24/16†††,1,2,5			152,876		–
Total Consumer, Non-cyclical					560,265,114
Technology - 15.6%
Misys Ltd.
4.98% (3 Month USD LIBOR + 3.50%) due 06/13/24			36,907,500		36,997,185
Press Ganey Holdings Inc
4.57% (1 Month USD LIBOR + 3.00%) due 10/23/23			32,682,259		32,866,260
LANDesk Group, Inc.
5.82% (1 Month USD LIBOR + 4.25%) due 01/20/24			34,282,251		32,535,913
Optiv, Inc.
4.63% (3 Month USD LIBOR + 3.25%) due 02/01/24			31,109,921		29,048,889
Verisure Cayman 2
3.00% (3 Month EURIBOR + 3.00%) due 10/21/22		EUR	24,250,000		28,881,503
Solera LLC
4.82% (1 Month USD LIBOR + 3.25%) due 03/03/23			26,247,475		26,402,073
First Data Corp.
3.80% (1 Month USD LIBOR + 2.25%) due 04/26/24			14,205,407		14,207,964
3.80% (1 Month USD LIBOR + 2.25%) due 07/08/22			8,199,430		8,203,940
Internet Brands, Inc.
5.34% (3 Month USD LIBOR + 3.75%) due 09/13/24			21,322,309		21,370,284
Kronos, Inc.
4.90% (3 Month USD LIBOR + 3.50%) due 11/01/23			20,513,715		20,640,695
Project Alpha (Qlik)
5.04% (6 Month USD LIBOR + 3.50%) due 04/26/24			20,797,413		20,320,736
Seattle Spnco
4.32% (1 Month USD LIBOR + 2.75%) due 06/21/24			19,489,112		19,489,112
TIBCO Software, Inc.
5.07% (1 Month USD LIBOR + 3.50%) due 12/04/20			19,203,878		19,239,981
Epicor Software
5.32% (1 Month USD LIBOR + 3.75%) due 06/01/22			18,120,359		18,152,795
Go Daddy Operating Company LLC
3.82% (1 Month USD LIBOR + 2.25%) due 02/15/24			17,567,650		17,603,663
Peak 10 Holding Corp.
5.19% (3 Month USD LIBOR + 3.50%) due 08/01/24			17,356,500		17,329,424
Evergood 4 ApS (Nets)
3.25% (3 Month EURIBOR + 3.25%) due 11/25/24		EUR	13,550,000		16,269,429
Planview, Inc.
6.82% (1 Month USD LIBOR + 5.25%) due 01/27/23†††,1			15,880,000		15,721,200
Cypress Intermediate Holdings III, Inc.
4.57% (1 Month USD LIBOR + 3.00%) due 04/29/24			13,266,750		13,280,017
EIG Investors Corp.
5.46% (3 Month USD LIBOR + 4.00%) due 02/09/23			12,058,117		12,126,004

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~			Value
SENIOR FLOATING RATE INTERESTS††,6 - 85.3% (continued)
Technology - 15.6% (continued)
Cologix Holdings, Inc.
4.46% (3 Month USD LIBOR + 3.00%) due 03/20/24			9,626,258	$	9,622,214
8.55% (1 Month USD LIBOR + 7.00%) due 03/20/25			1,900,000		1,909,500
Advanced Computer Software
6.94% (3 Month USD LIBOR + 5.50%) due 03/18/22			6,284,912		6,214,207
10.94% (3 Month USD LIBOR + 9.50%) due 01/31/23			4,490,000		4,214,988
Informatica Corp.
5.19% (3 Month USD LIBOR + 3.50%) due 08/05/22			10,217,485		10,244,868
Infor (US), Inc.
4.44% (3 Month USD LIBOR + 2.75%) due 02/01/22			10,010,750		10,042,084
Eiger Acquisition B.V.
3.75% (3 Month EURIBOR + 3.75%) due 12/12/24		EUR	7,400,000		8,858,781
Ipreo Holdings
4.69% (3 Month USD LIBOR + 3.00%) due 08/06/21			8,706,878		8,706,878
Jaggaer
5.00% (3 Month USD LIBOR + 4.00%) due 12/28/24			8,200,000		8,159,000
GlobalLogic Holdings, Inc.
6.19% (3 Month USD LIBOR + 4.50%) due 06/20/22			7,576,291		7,633,113
Camelia Bidco Banc Civica
5.31% (3 Month USD LIBOR + 4.75%) due 10/14/24		GBP	5,600,000		7,550,863
Microsemi Corp.
3.38% (2 Month USD LIBOR + 2.00%) due 01/15/23			6,639,244		6,658,365
Aspect Software, Inc.
12.07% (1 Month USD LIBOR + 10.50%) due 05/25/202			6,716,307		6,615,563
Palermo Finance Corp.
5.85% (3 Month USD LIBOR + 4.50%) due 04/17/23†††,1			6,417,750		6,361,405
MA Financeco LLC
4.07% (1 Month USD LIBOR + 2.50%) due 11/19/21			6,275,000		6,273,682
Switch Ltd.
3.99% (3 Month USD LIBOR + 2.75%) due 06/27/24			5,985,000		5,988,771
Cvent, Inc.
5.32% (1 Month USD LIBOR + 3.75%) due 11/29/24			5,900,000		5,900,000
Micron Technology, Inc.
3.39% (1 Month USD LIBOR + 2.00%) due 04/26/22			5,731,034		5,779,347
Miami Escrow Borrower LLC
4.32% (1 Month USD LIBOR + 2.75%) due 06/21/24			2,885,888		2,885,888
Sabre GLBL, Inc.
3.82% (1 Month USD LIBOR + 2.25%) due 02/22/24			2,369,160		2,378,708
Total Technology					552,685,292
Consumer, Cyclical - 13.3%
Gates Global LLC
3.25% (3 Month EURIBOR + 3.25%) due 04/01/24		EUR	20,173,625		24,233,764
4.69% (3 Month USD LIBOR + 3.00%) due 04/01/24			17,258,654		17,342,531
Equinox Holdings, Inc.
4.57% (1 Month USD LIBOR + 3.00%) due 03/08/24			33,830,000		34,105,038
Leslie's Poolmart, Inc.
5.37% (2 Month USD LIBOR + 3.75%) due 08/16/23			31,046,305		30,935,470
AlixPartners, LLP
4.44% (3 Month USD LIBOR + 2.75%) due 04/04/24			27,988,500		28,118,367
USIC Holding, Inc.
5.19% (3 Month USD LIBOR + 3.50%) due 12/08/23			26,867,871		27,002,211
PC Intermediate Holdings, Inc.
4.46% (3 Month USD LIBOR + 3.00%) due 08/19/22			23,709,459		23,779,402
Fitness International LLC
5.19% (3 Month USD LIBOR + 3.50%) due 07/01/20			19,114,667		19,348,822
Greektown Holdings LLC
4.32% (1 Month USD LIBOR + 2.75%) due 04/25/24			17,860,250		17,823,101
PetSmart Inc
4.57% (1 Month USD LIBOR + 3.00%) due 03/11/22			22,184,764		17,685,472
Navistar Inc.
4.90% (1 Month USD LIBOR + 3.50%) due 11/06/24			17,500,000		17,549,175
Life Time Fitness, Inc.
4.23% (3 Month USD LIBOR + 2.75%) due 06/10/22			15,810,375		15,853,221
Acosta, Inc.
4.82% (1 Month USD LIBOR + 3.25%) due 09/26/21			17,788,369		15,564,823
BBB Industries, LLC
6.07% (1 Month USD LIBOR + 4.50%) due 11/03/21			14,788,910		14,946,116
Sears Roebuck Acceptance Corp.
6.07% (3 Month USD LIBOR + 4.50%) due 01/20/19			13,599,408		13,667,405
Petco Animal Supplies, Inc.
4.38% (3 Month USD LIBOR + 3.00%) due 01/26/23			18,026,394		13,559,273
Eldorado Resorts, Inc.
3.77% (1 Month USD LIBOR + 2.25%) due 04/17/24			13,394,500		13,394,500
At Home Holding III Corp.
4.88% (3 Month USD LIBOR + 3.50%) due 06/03/22			12,187,500		12,172,266

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~			Value
SENIOR FLOATING RATE INTERESTS††,6 - 85.3% (continued)
Consumer, Cyclical - 13.3% (continued)
National Vision, Inc.
4.32% (1 Month USD LIBOR + 2.75%) due 11/20/24			10,812,432	$	10,816,973
Burlington Stores, Inc.
4.00% (1 Month USD LIBOR + 2.50%) due 11/17/24			10,100,000		10,106,363
Deuce Acquisition
6.50% (1 Month USD LIBOR + 5.50%) due 12/08/22		GBP	7,100,000		9,592,587
Advantage Sales & Marketing LLC
4.63% (3 Month USD LIBOR + 3.25%) due 07/23/21			9,469,301		9,217,797
Cyan Blue Holdco 3 Ltd.
5.19% (3 Month USD LIBOR + 3.50%) due 08/23/24			9,054,500		9,099,772
Trader Corp.
4.69% (3 Month USD LIBOR + 3.00%) due 09/28/23			9,052,876		9,037,758
Packers Sanitation Services, Inc.
7.75% (2 Month USD LIBOR + 3.25%) due 12/04/24			8,715,656		8,737,445
PTL Acqusition, Inc.
3.82% (1 Month USD LIBOR + 2.25%) due 08/01/23			8,196,250		8,233,789
Prime Security Services Borrower LLC
4.32% (1 Month USD LIBOR + 2.75%) due 05/02/22			6,600,208		6,644,231
Neiman Marcus Group, Inc.
4.64% (1 Month USD LIBOR + 3.25%) due 10/25/20			7,706,918		6,274,433
Belk, Inc.
6.10% (3 Month USD LIBOR + 4.75%) due 12/12/22			6,409,341		5,239,637
Men's Wearhouse, Inc.
4.89% (1 Month USD LIBOR + 3.50%) and (3 Month USD LIBOR + 3.50%) due 06/18/21			4,299,700		4,297,034
Generac Holdings, Inc.
3.34% (3 Month USD LIBOR + 2.00%) due 05/31/23			4,050,000		4,057,087
Belmond Interfin Ltd.
4.32% (1 Month USD LIBOR + 2.75%) due 07/03/24			3,980,000		3,981,672
International Car Wash Group Ltd.
4.88% (3 Month USD LIBOR + 3.50%) due 10/03/24			2,250,000		2,255,625
Penn Engineering & Manufacturing Corp.
4.32% (1 Month USD LIBOR + 2.75%) due 06/27/24			1,995,000		1,999,987
Truck Hero, Inc.
5.64% (3 Month USD LIBOR + 4.00%) due 04/22/24			1,792,255		1,791,699
Total Consumer, Cyclical					468,464,846
Communications - 9.4%
Univision Communications, Inc.
4.32% (1 Month USD LIBOR + 2.75%) due 03/15/24			33,914,584		33,782,657
Altice US Finance I Corp.
3.82% (1 Month USD LIBOR + 2.25%) due 07/28/25			33,608,613		33,447,627
Radiate HoldCo LLC
4.57% (1 Month USD LIBOR + 3.00%) due 02/01/24			29,928,740		29,677,638
SFR Group S.A.
4.35% (3 Month USD LIBOR + 3.00%) due 01/31/26			29,626,125		28,487,297
WMG Acquisition Corp.
3.64% (1 Month USD LIBOR + 2.25%) due 11/01/23			24,154,713		24,158,578
Sprint Communications, Inc.
4.13% (1 Month USD LIBOR + 2.50%) due 02/02/24			23,944,063		23,926,104
Cengage Learning Acquisitions, Inc.
5.71% (1 Month USD LIBOR + 4.25%) due 06/07/23			24,791,080		23,613,504
CSC Holdings, LLC
3.74% (1 Month USD LIBOR + 2.25%) due 07/17/25			21,653,687		21,552,131
Mcgraw-Hill Global Education Holdings LLC
5.57% (1 Month USD LIBOR + 4.00%) due 05/04/22			19,242,740		19,178,662
Telenet Financing USD LLC
3.92% (1 Month USD LIBOR + 2.50%) due 03/31/26			16,800,000		16,843,680
Virgin Media Bristol LLC
3.98% (1 Month USD LIBOR + 2.50%) due 01/15/26			16,500,000		16,489,770
Market Track LLC
5.94% (3 Month USD LIBOR + 4.25%) due 06/05/24			13,815,375		13,746,298
Ziggo Secured Finance BV
3.98% (1 Month USD LIBOR + 2.50%) due 04/15/25			13,550,000		13,431,437
Charter Communications Operating, LLC
6.50% (1 Month USD LIBOR + 2.00%) due 04/30/25			10,550,000		10,553,798
Houghton Mifflin Co.
4.57% (1 Month USD LIBOR + 3.00%) due 05/28/21			10,629,962		9,839,412
AMC Entertainment Holdings, Inc.
3.73% (1 Month USD LIBOR + 2.25%) due 12/15/23			3,176,000		3,173,364

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~			Value
SENIOR FLOATING RATE INTERESTS††,6 - 85.3% (continued)
Communications - 9.4% (continued)
Proquest LLC
5.32% (1 Month USD LIBOR + 3.75%) due 10/24/21			2,678,946	$	2,710,772
Match Group, Inc.
3.85% (2 Month USD LIBOR + 2.50%) due 11/16/22			2,471,875		2,487,324
Anaren, Inc.
6.19% (3 Month USD LIBOR + 4.50%) due 02/18/21			1,471,481		1,471,481
9.94% (3 Month USD LIBOR + 8.25%) due 08/18/21			275,000		275,000
Level 3 Financing, Inc.
3.70% (3 Month USD LIBOR + 2.25%) due 02/22/24			1,000,000		1,000,000
SFR Group SA
4.13% (3 Month USD LIBOR + 2.75%) due 07/31/25			498,930		475,730
GTT Communications, Inc.
4.88% (1 Month USD LIBOR + 3.25%) due 01/09/24			248,744		249,987
Total Communications					330,572,251
Financial - 7.5%
LPL Holdings, Inc.
3.81% (3 Month USD LIBOR + 2.25%) and (6 Month USD LIBOR + 2.25%) due 09/23/24			34,926,912		35,043,218
National Financial Partners Corp.
5.07% (1 Month USD LIBOR + 3.50%) due 01/08/24			32,491,899		32,629,990
Amwins Group LLC
4.28% (1 Month USD LIBOR + 2.75%) due 01/25/24			25,566,750		25,637,826
Avolon Luxembourg SARL
3.75% (1 Month USD LIBOR + 2.25%) due 03/21/22			24,079,000		23,885,646
Americold Realty Operating Partnership, LP
5.32% (1 Month USD LIBOR + 3.75%) due 12/01/22			20,785,981		20,980,954
HUB International Ltd.
4.41% (3 Month USD LIBOR + 3.00%) due 10/02/20			19,767,209		19,848,452
Alliant Holdings I L.P.
4.80% (1 Month USD LIBOR + 3.25%) due 08/12/22			16,185,291		16,246,795
TransUnion LLC
3.57% (1 Month USD LIBOR + 2.00%) due 04/10/23			16,054,801		16,109,067
Vantiv LLC
3.48% (1 Month USD LIBOR + 2.00%) due 08/09/24			9,096,963		9,138,627
2.00% (3 Month USD LIBOR + 0.52%) due 03/31/25			2,553,037		2,563,683
Delos International
3.69% (3 Month USD LIBOR + 2.00%) due 10/06/23			11,250,000		11,330,325
York Risk Services
5.32% (1 Month USD LIBOR + 3.75%) due 10/01/21			11,289,561		11,032,724
WEX, Inc.
4.32% (1 Month USD LIBOR + 2.75%) due 06/30/23			9,948,500		9,985,807
USI, Inc.
4.31% (6 Month USD LIBOR + 3.00%) due 05/16/24			5,500,000		5,498,267
4.69% (3 Month USD LIBOR + 3.00%) due 05/16/24			1,649,865		1,646,433
American Stock Transfer & Trust
6.20% (3 Month USD LIBOR + 4.50%) due 06/26/20			5,605,041		5,614,401
Jefferies Finance LLC
4.44% (3 Month USD LIBOR + 3.00%) due 08/02/24			5,500,000		5,506,875
Capital Automotive L.P.
4.07% (1 Month USD LIBOR + 2.50%) due 03/25/24			3,842,020		3,850,665
Focus Financial Partners LLC
4.94% (3 Month USD LIBOR + 3.25%) due 07/03/24			2,743,125		2,767,127
Geo Group, Inc.
3.95% (3 Month USD LIBOR + 2.25%) due 03/22/24			2,530,875		2,531,938
Fly Leasing Ltd.
3.40% (3 Month USD LIBOR + 2.00%) due 02/09/23			1,577,976		1,577,976
Total Financial					263,426,796
Utilities - 2.1%
Dynegy, Inc.
4.25% (3 Month USD LIBOR + 2.75%) due 02/07/24			28,497,759		28,616,595
Techem GmbH
3.00% (3 Month EURIBOR + 3.00%) due 10/02/24		EUR	16,500,000		19,765,753
Helix Gen Funding LLC
5.44% (3 Month USD LIBOR + 3.75%) due 06/03/24			9,904,352		9,927,033
Viva Alamo LLC
5.82% (1 Month USD LIBOR + 4.25%) due 02/22/21			6,594,888		6,504,209
Stonewall
7.19% (3 Month USD LIBOR + 5.50%) due 11/13/21			5,935,125		5,757,071
Panda Temple II Power
7.69% (3 Month USD LIBOR + 6.00%) due 04/03/19			3,737,431		3,363,688
Total Utilities					73,934,349
Basic Materials - 2.0%
Alpha 3 B.V.
4.69% (3 Month USD LIBOR + 3.00%) due 01/31/24			28,790,699		28,946,745
PQ Corp.
4.63% (3 Month USD LIBOR + 3.25%) due 11/04/22			19,284,218		19,425,378

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~			Value
SENIOR FLOATING RATE INTERESTS††,6 - 85.3% (continued)
Basic Materials - 2.0% (continued)
Nexeo Solutions LLC
4.72% (3 Month USD LIBOR + 3.25%) due 06/09/23			10,373,080	$	10,424,945
Arch Coal, Inc.
4.82% (1 Month USD LIBOR + 3.25%) due 03/07/24			6,835,977		6,880,411
Platform Specialty Products
3.25% (1 Month EURIBOR + 2.50%) due 06/07/20		EUR	3,461,930		4,167,524
4.07% (1 Month USD LIBOR + 2.50%) due 06/07/20			1,746,624		1,756,807
Minerals Technologies, Inc.
3.79% (1 Month USD LIBOR + 2.25%) and (3 Month USD LIBOR + 2.25%) due 02/14/24			791,635		797,573
Total Basic Materials					72,399,383
Energy - 1.8%
Ultra Petroleum, Inc.
4.41% (3 Month USD LIBOR + 3.00%) due 04/12/24			19,890,000		19,845,247
Veresen Midstream LP
4.69% (1 Month USD LIBOR + 3.00%) due 03/31/22			15,428,542		15,532,684
Moss Creek Resources LLC
9.50% (1 Month USD LIBOR + 8.00%) due 04/07/22†††,1			13,338,889		13,172,153
Penn Virginia Holding Corp.
8.57% (1 Month USD LIBOR + 7.00%) due 09/29/22†††,1			10,890,000		10,683,394
PSS Companies
6.34% (3 Month USD LIBOR + 4.50%) due 01/28/20			5,536,202		5,231,711
Summit Midstream Partners, LP
7.57% (1 Month USD LIBOR + 6.00%) due 05/13/22			920,000		934,564
Total Energy					65,399,753
Total Senior Floating Rate Interests
(Cost $3,024,636,027)					3,014,736,661

CORPORATE BONDS†† - 4.8%
Communications - 1.3%
Sprint Communications, Inc.
9.00% due 11/15/184	12,700,000	13,368,020
DISH DBS Corp.
7.75% due 07/01/26	10,700,000	11,248,375
Ziggo Secured Finance BV
5.50% due 01/15/274	5,000,000	4,962,500
Midcontinent Communications / Midcontinent Finance Corp.
6.88% due 08/15/234	4,000,000	4,245,000
Inmarsat Finance plc
4.88% due 05/15/224	3,500,000	3,491,250
Anixter, Inc.
5.50% due 03/01/23	3,000,000	3,229,650
Zayo Group LLC / Zayo Capital, Inc.
5.75% due 01/15/274	2,000,000	2,040,000
CCO Holdings LLC / CCO Holdings Capital Corp.
5.25% due 09/30/22	1,890,000	1,937,250
MDC Partners, Inc.
6.50% due 05/01/244	1,700,000	1,708,500
Total Communications		46,230,545
Energy - 0.9%
Sabine Pass Liquefaction LLC
5.63% due 02/01/21	5,500,000	5,896,319
5.63% due 04/15/23	4,200,000	4,612,556
CNX Resources Corp.
5.88% due 04/15/22	6,750,000	6,893,438
Cheniere Corpus Christi Holdings LLC
5.88% due 03/31/25	5,200,000	5,635,500
Unit Corp.
6.63% due 05/15/21	4,000,000	4,030,000
Legacy Reserves Limited Partnership / Legacy Reserves Finance Corp.
8.00% due 12/01/20	2,750,000	2,117,500
American Midstream Partners Limited Partnership / American Midstream Finance Corp.
8.50% due 12/15/214	1,428,000	1,467,270
BreitBurn Energy Partners Limited Partnership / BreitBurn Finance Corp.
7.88% due 04/15/225	850,000	1,020
Total Energy		30,653,603
Consumer, Non-cyclical - 0.6%
HCA, Inc.
6.50% due 02/15/20	13,914,000	14,748,840
4.50% due 02/15/27	1,500,000	1,507,500
ServiceMaster Co. LLC
5.13% due 11/15/244	4,000,000	4,050,000
HRG Group, Inc.
7.88% due 07/15/19	490,000	490,980
AMN Healthcare, Inc.
5.13% due 10/01/244	450,000	463,500
Total Consumer, Non-cyclical		21,260,820
Financial - 0.5%
Kennedy-Wilson, Inc.
5.88% due 04/01/24	9,730,000	10,046,225
Icahn Enterprises, LP / Icahn Enterprises Finance Corp.
5.88% due 02/01/22	5,000,000	5,062,500
Icahn Enterprises Limited Partnership / Icahn Enterprises Finance Corp.
6.00% due 08/01/20	1,700,000	1,748,322

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
CORPORATE BONDS†† - 4.8% (continued)
Financial - 0.5% (continued)
Jefferies Finance LLC / JFIN Company-Issuer Corp.
7.38% due 04/01/204		1,050,000	$	1,080,188
Fidelity & Guaranty Life Holdings, Inc.
6.38% due 04/01/214		450,000		460,125
FBM Finance, Inc.
8.25% due 08/15/214		200,000		212,500
Total Financial				18,609,860
Industrial - 0.4%
Reynolds Group Issuer Incorporated / Reynolds Group Issuer LLC
4.86% (3 Month USD LIBOR + 3.50%) due 07/15/214,6		7,500,000		7,612,500
Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc.
4.63% due 05/15/234		2,100,000		2,142,630
4.25% due 09/15/224		1,500,000		1,526,250
Novelis Corp.
6.25% due 08/15/244		3,000,000		3,142,500
Grinding Media Inc. / MC Grinding Media Canada Inc.
7.38% due 12/15/234		750,000		805,275
StandardAero Aviation Holdings, Inc.
10.00% due 07/15/234		125,000		136,875
Total Industrial				15,366,030
Technology - 0.4%
First Data Corp.
5.00% due 01/15/244		6,250,000		6,429,688
5.75% due 01/15/244		5,200,000		5,382,000
NCR Corp.
5.88% due 12/15/21		1,450,000		1,486,250
6.38% due 12/15/23		800,000		838,000
Total Technology				14,135,938
Consumer, Cyclical - 0.4%
Nathan's Famous, Inc.
6.63% due 11/01/254		4,275,000		4,435,312
Ferrellgas Limited Partnership / Ferrellgas Finance Corp.
6.50% due 05/01/21		4,615,000		4,320,794
WMG Acquisition Corp.
6.75% due 04/15/224		2,280,000		2,382,600
Lennar Corp.
4.13% due 01/15/22		1,500,000		1,530,000
Total Consumer, Cyclical				12,668,706
Utilities - 0.3%
Terraform Global Operating LLC
9.75% due 08/15/224		4,600,000		5,088,750
AES Corp.
6.00% due 05/15/26		2,000,000		2,160,000
5.50% due 04/15/25		1,150,000		1,207,500
LBC Tank Terminals Holding Netherlands BV
6.88% due 05/15/234		630,000		655,987
Total Utilities				9,112,237
Basic Materials - 0.0%
Eldorado Gold Corp.
6.13% due 12/15/204		265,000		262,350
Mirabela Nickel Ltd.
9.50% due 06/24/19		1,279,819		166,376
Total Basic Materials				428,726
Total Corporate Bonds
(Cost $167,461,746)				168,466,465

ASSET-BACKED SECURITIES†† - 2.6%
Collateralized Loan Obligations - 2.6%
Golub Capital Partners CLO Ltd.
2016-33A, 3.92% (3 Month USD LIBOR + 2.48%) due 11/21/284,6	12,500,000	12,531,419
TICP CLO II Ltd.
2014-2A, 6.11% (3 Month USD LIBOR + 4.75%) due 07/20/264,6	6,560,000	6,402,200
OHA Credit Partners IX Ltd.
2013-9A, due 10/20/254,7	6,000,000	5,298,568
Cerberus Loan Funding XVII Ltd.
2016-3A, 3.89% (3 Month USD LIBOR + 2.53%) due 01/15/284,6	5,000,000	5,032,240
Fortress Credit Opportunities VII CLO Ltd.
2016-7A, 4.27% (3 Month USD LIBOR + 2.95%) due 12/15/284,6	5,000,000	5,008,292
PFP Ltd.
2015-2, 4.18% (1 Month USD LIBOR + 2.70%) due 07/14/344,6	5,000,000	5,005,680
Octagon Loan Funding Ltd.
due 11/18/267	5,600,000	4,822,528
OCP CLO Ltd.
2016-2A, 4.30% (3 Month USD LIBOR + 2.85%) due 11/22/254,6	3,800,000	3,845,057
Jamestown CLO V Ltd.
2014-5A, 6.45% (3 Month USD LIBOR + 5.10%) due 01/17/274,6	4,000,000	3,834,463
Avery Point II CLO Ltd.
2013-3X COM, due 01/18/257	4,300,020	3,541,808
Fortress Credit Opportunities VI CLO Ltd.
2015-6A, 5.19% (3 Month USD LIBOR + 3.65%) due 10/10/264,6	3,500,000	3,500,003

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 2.6% (continued)
Collateralized Loan Obligations - 2.6% (continued)
ABPCI Direct Lending Fund CLO I LLC
2016-1A, 4.06% (3 Month USD LIBOR + 2.70%) due 12/22/284,6		3,000,000	$	3,009,590
Flagship CLO VIII Ltd.
2017-8A, 3.86% (3 Month USD LIBOR + 2.50%) due 01/16/264,6		3,000,000		3,007,265
ALM XIV Ltd.
2014-14A, 4.83% (3 Month USD LIBOR + 3.45%) due 07/28/264,6		2,650,000		2,650,000
Halcyon Loan Advisors Funding Ltd.
2012-1A, 4.42% (3 Month USD LIBOR + 3.00%) due 08/15/234,6		2,600,000		2,611,030
Treman Park CLO Ltd.
2015-1A, due 04/20/274,7		3,000,000		2,569,890
Ares XXXIII CLO Ltd.
2016-1A, 4.29% (3 Month USD LIBOR + 2.80%) due 12/05/254,6		2,500,000		2,540,145
Fortress Credit Opportunities V CLO Ltd.
2017-5A, 5.60% (3 Month USD LIBOR + 4.25%) due 10/15/264,6		2,500,000		2,500,213
KVK CLO Ltd.
2017-1A, 4.02% (3 Month USD LIBOR + 2.60%) due 05/15/264,6		2,000,000		2,022,296
Catamaran CLO Ltd.
2012-1, 4.48% (3 Month USD LIBOR + 2.85%) due 12/20/234,6		2,000,000		2,005,639
ACIS CLO Ltd.
2013-1A, 5.85% (3 Month USD LIBOR + 4.50%) due 04/18/244,6		1,000,000		1,000,018
2015-6A, 4.75% (3 Month USD LIBOR + 3.37%) due 05/01/274,6		1,000,000		999,803
Galaxy XVI CLO Ltd.
2013-16A, 4.77% (3 Month USD LIBOR + 3.35%) due 11/16/254,6		2,000,000		1,985,820
Newstar Commercial Loan Funding LLC
2017-1A, 4.83% (3 Month USD LIBOR + 3.50%) due 03/20/274,6		1,000,000		999,836
2014-1A, 6.11% (3 Month USD LIBOR + 4.75%) due 04/20/254,6		250,000		245,360
Cerberus Loan Funding XVI, LP
2016-2A, 5.16% (3 Month USD LIBOR + 3.80%) due 11/15/274,6		1,000,000		1,021,075
Shackleton VII CLO Ltd.
2016-7A, 4.21% (3 Month USD LIBOR + 2.85%) due 04/15/274,6		1,000,000		1,011,693
NewStar Arlington Senior Loan Program LLC
2014-1A, 4.67% (3 Month USD LIBOR + 3.30%) due 07/25/254,6		600,000		594,890
Cerberus Onshore II CLO LLC
2014-1A, 5.36% (3 Month USD LIBOR + 4.00%) due 10/15/234,6		327,745		327,597
Ares XXVI CLO Ltd.
2013-1A, due 04/15/254,7		1,250,000		183,880
Total Collateralized Loan Obligations				90,108,298
Collateralized Debt Obligations - 0.0%
N-Star REL CDO VIII Ltd.
2006-8A, 1.72% (1 Month USD LIBOR + 0.36%) due 02/01/414,6		1,730,490		1,727,834
Transport-Aircraft - 0.0%
Airplanes Pass Through Trust
2001-1A, 1.78% (1 Month USD LIBOR + 0.55%) due 03/15/196,8		1,032,084		185,156
Total Asset-Backed Securities
(Cost $90,964,657)				92,021,288

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 1.6%
Residential Mortgage Backed Securities - 1.6%
RALI Series Trust
2006-QO2, 1.77% (1 Month USD LIBOR + 0.22%) due 02/25/466		8,343,443	$	3,679,127
2007-QO4, 1.51% (1 Month USD LIBOR + 0.19%) due 05/25/476		3,060,727		2,949,891
2006-QO10, 1.71% (1 Month USD LIBOR + 0.16%) due 01/25/376		3,058,167		2,869,988
GSAA Home Equity Trust
2006-14, 1.72% (1 Month USD LIBOR + 0.17%) due 09/25/366		10,482,977		5,467,650
2007-7, 1.82% (1 Month USD LIBOR + 0.27%) due 07/25/376		733,897		698,297
Soundview Home Loan Trust
2005-OPT3, 2.02% (1 Month USD LIBOR + 0.47%) due 11/25/356		6,000,000		5,901,949
American Home Mortgage Investment Trust
2006-1, 1.73% (1 Month USD LIBOR + 0.40%) due 03/25/466		5,674,192		5,488,933
IndyMac INDX Mortgage Loan Trust
2006-AR4, 1.76% (1 Month USD LIBOR + 0.21%) due 05/25/466		5,055,105		4,822,235
Washington Mutual Mortgage Pass-Through Certificates Trust
2007-OA6, 1.81% (1 Year CMT Rate + 0.81%) due 07/25/476		4,805,095		4,400,613
CIM Trust
2017-2, 3.36% (1 Month USD LIBOR + 2.00%) due 12/25/574,6		4,353,738		4,399,016
American Home Mortgage Assets Trust
2006-4, 1.76% (1 Month USD LIBOR + 0.21%) due 10/25/466		4,351,803		3,183,244
Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust
2006-AR9, 1.90% (1 Year CMT Rate + 0.84%) due 11/25/466		3,573,954		3,013,000
Lehman XS Trust Series
2006-16N, 1.74% (1 Month USD LIBOR + 0.19%) due 11/25/466		2,685,631		2,531,867
Wachovia Asset Securitization Issuance II LLC Trust
2007-HE1, 1.69% (1 Month USD LIBOR + 0.14%) due 07/25/374,6		2,584,245		2,464,486
Merrill Lynch Alternative Note Asset Trust Series
2007-OAR3, 1.52% (1 Month USD LIBOR + 0.19%) due 07/25/376		2,423,186		2,127,198
Nomura Resecuritization Trust
2015-4R, 2.39% (1 Month USD LIBOR + 0.43%) due 03/26/364,6		2,105,111		2,023,431
Morgan Stanley Re-REMIC Trust
2010-R5, 2.67% due 06/26/364		861,797		727,927
Alliance Bancorp Trust
2007-OA1, 1.79% (1 Month USD LIBOR + 0.24%) due 07/25/376		709,005		577,869
New Century Home Equity Loan Trust
2004-4, 2.35% (1 Month USD LIBOR + 0.80%) due 02/25/356		315,384		303,858
Total Residential Mortgage Backed Securities				57,630,579
Total Collateralized Mortgage Obligations
(Cost $53,645,489)				57,630,579

SENIOR FIXED RATE INTERESTS†† - 0.1%
Consumer, Cyclical - 0.1%
Men's Wearhouse, Inc.
5.00% due 06/18/21	4,700,000	4,653,000
Total Senior Fixed Rate Interests
(Cost $4,700,000)		4,653,000

COMMERCIAL PAPER†† - 4.3%
Marriott International, Inc.
1.68% due 01/12/189	24,500,000		24,486,899
1.57% due 01/29/189	14,950,000		14,931,744
Total Marriott International, Inc.			39,418,643
Molex Electronic Technologies
1.83% due 01/22/189	25,000,000		24,972,438
1.89% due 01/22/189	10,000,000		9,988,975
Total Molex Electronic Technologies			34,961,413
Diageo Capital plc
1.80% due 01/18/189	28,500,000		28,475,775
CBS Corp.
1.90% due 01/22/189	16,425,000		16,406,796
McCormick & Company, Inc.
1.63% due 01/03/189	12,000,000		11,998,733
Ryder System, Inc.
1.80% due 01/08/189	12,000,000		11,995,800
Hewlett-Packard Co.
1.69% due 01/16/189	8,000,000		7,994,367
Total Commercial Paper
(Cost $151,251,527)			151,251,527
Total Investments - 101.5%
(Cost $3,592,891,621)		$	3,588,884,194
Other Assets & Liabilities, net - (1.5)%			(53,688,195	)
Total Net Assets - 100.0%		$	3,535,195,999

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS††
Counterparty	Contracts to Sell		Currency		Settlement Date	Settlement Value		Value at December 31, 2017		Net Unrealized Depreciation
Barclays		600,000		EUR	01/10/18	$	717,739	$	720,220	$	(2,481	)
Goldman Sachs		1,350,000		EUR	01/10/18		1,602,666		1,620,494		(17,828	)
Barclays		15,403,000		GBP	01/10/18		20,642,253		20,800,691		(158,438	)
J.P. Morgan		115,308,000		EUR	01/10/18		136,407,634		138,411,793		(2,004,159	)
										$	(2,182,906	)

Counterparty	Contracts to Buy		Currency		Settlement Date	Settlement Value			Value at December 31, 2017		Net Unrealized Appreciation
J.P. Morgan		1,400,000		EUR	01/10/18	$	(1,648,818	)	$	1,680,512	$	31,694

~	The face amount is denominated in U.S. dollars unless otherwise indicated.
*	Non-income producing security.
†	Value determined based on Level 1 inputs, unless otherwise noted — See Note 3.
††	Value determined based on Level 2 inputs, unless otherwise noted — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	Security was fair valued by the Valuation Committee at December 31, 2017. The total market value of fair valued securities amounts to $47,317,553, (cost $47,224,462) or 1.3% of total net assets.
2	Affiliated issuer.
3	Rate indicated is the 7 day yield as of December 31, 2017.
4	Security is a 144A or Section 4(a)(2) security. These securities have been determined to be liquid under guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) securities is $170,638,226 (cost $166,001,030), or 4.8% of total net assets.
5	Security is in default of interest and/or principal obligations.
6	Variable rate security. Rate indicated is rate effective at December 31, 2017. In some instances, the underlying reference rate shown was below the minimum rate earned by the security or has been adjusted by a predetermined factor. The settlement status of a position may also impact the effective rate indicated. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
7	Security has no stated coupon. However, it is expected to receive residual cash flow payments on defined deal dates.
8	Security is a 144A or Section 4(a)(2) security. These securities have been determined to be illiquid and restricted under guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) illiquid and restricted securities is $185,156 (cost $832,564), or 0.0% of total net assets — See Note 7.
9	Rate indicated is the effective yield at the time of purchase.

plc — Public Limited Company

REIT — Real Estate Investment Trust

LIBOR — London Interbank Offered Rate

WAC — Weighted Average Coupon

EURIBOR — European Interbank Offered Rate

CMT — Constant Maturity Treasury

EUR — Euro

GBP — British Pound

See Sector Classification in Other Information section.

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Asset-Backed Securities	$	—	$	92,021,288	$	—	$	—	$	92,021,288
Collateralized Mortgage Obligations		—		57,630,579		—		—		57,630,579
Commercial Paper		—		151,251,527		—		—		151,251,527
Common Stocks		15,367		—		—		24,649		40,016
Corporate Bonds		—		168,466,465		—		—		168,466,465
Forward Foreign Currency Exchange Contracts		—		—		31,694		—		31,694
Money Market Fund		73,769,953		—		—		—		73,769,953
Mutual Funds		26,314,705		—		—		—		26,314,705
Senior Fixed Rate Interests		—		4,653,000		—		—		4,653,000
Senior Floating Rate Interests		—		2,967,443,757		—		47,292,904		3,014,736,661
Total Assets	$	100,100,025	$	3,441,466,616	$	31,694	$	47,317,553	$	3,588,915,888

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Forward Foreign Currency Exchange Contracts	$	—	$	—	$	2,182,906	$	—	$	2,182,906
Unfunded Loan Commitments		—		—		—		791,619		791,619
Total Liabilities	$	—	$	—	$	2,182,906	$	791,619	$	2,974,525

* Other financial instruments include forward foreign currency exchange contracts, which are reported as unrealized gain/loss at period end.

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

The following is a summary of significant unobservable inputs used in the fair valuation of assets and liabilities categorized within Level 3 of the fair value hierarchy:

Category	Level 3		Valuation Technique	Unobservable Inputs	Input Values
Assets:
Common Stocks	$	24,649	Enterprise Value	Valuation Multiple	7.7x
Senior Floating Rate Interests		45,938,152	Yield Analysis	Yield	6.0%-9.9%
Senior Floating Rate Interests		1,354,752	Model Price	Purchase Price	─
Total	$	47,317,553

Category		Level 3	Valuation Technique	Unobservable Inputs	Input Values
Liabilites:
Unfunded Loan Commitments	$	791,619	Model Price	Purchase Price	─

Any remaining Level 3 securities held by the Fund and excluded from the tables above, were not considered material to the Fund.

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, was a security with a total market value of $2,563,683 transfer out of Level 3 to Level 2 due to the availability of current and reliable market-based data provided by a third-party pricing service which utilizes significant observable inputs.

Summary of Fair Value Level 3 Activity

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value for the period ended December 31, 2017:

	Assets									Liabilities
	Senior Floating Rate Interests			Common Stocks			Total			Unfunded Loan Commitments
FLOATING RATE STRATEGIES
Beginning Balance	$	45,746,703		$	19,586		$	45,766,289		$	(1,036,307	)
Purchases/(Receipts)		11,991,531			-			11,991,531			3,479,238
(Sales, maturities and paydowns)/Fundings		(10,529,508	)		(1,005	)		(10,530,513	)		(689,586	)
Total realized gains or (losses) included in earnings		(1,827,646	)		446			(1,827,200	)		68,361
Total change in unrealized gains or (losses) included in earnings		1,911,824			5,622			1,917,446			(49,642	)
Transfers out of Level 3		-			-			-			(2,563,683	)
Ending Balance	$	47,292,904		$	24,649		$	47,317,553		$	(791,619	)
Net Change in unrealized appreciation (depreciation) for investments in securities still held at December 31, 2017	$	103,587		$	5,621		$	109,208		$	(66,670	)

Floating Rate Strategies Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

Affiliated Transactions

Investments representing 5% or more of the outstanding voting shares of a portfolio company of a fund, or control of or by, or common control under GI, result in that portfolio company being considered an affiliated company of such fund, as defined in the 1940 Act.

The Fund may invest in the Guggenheim Strategy Funds Trust consisting of Guggenheim Strategy Fund I, Guggenheim Strategy Fund II, Guggenheim Strategy Fund III, and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Cash Management Funds”), open-end management investment companies managed by GI. The Cash Management Funds, which launched on March 11, 2014, are offered as cash management options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Cash Management Funds pay no investment management fees. The Cash Management Funds’ annual report on Form N-CSR dated September 30, 2017, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000089180417000715/gug72218.htm.

Transactions during the period ended December 31, 2017, in which the portfolio company is an "affiliated person", were as follows:
Security Name	Value 09/30/17		Additions		Reductions			Realized Gain		Change in Unrealized			Value 12/31/17		Shares/ Face Amount 12/31/17		Investment Income		Capital Gain Distributions
Aspect Software, Inc., 12.04% (1 Month USD LIBOR + 10.50%) due 05/02/20	$	6,650,071	$	–	$	(43,612	)	$	–	$	9,104		$	6,615,563		6,716,307	$	195,650	$	─
Guggenheim Strategy Fund I		18,806,574		138,280		–			─		(37,594	)		18,907,260		754,480		130,538		7,150
Guggenheim Strategy Fund II		7,362,879		59,313		–			─		(14,747	)		7,407,445		296,179		56,639		3,940
Targus Group International, Inc		19,586		–		(1,005	)		446		5,622			24,649		12,773		–		–
Targus Group International, Inc., 15.00% (Prime Rate + 10.50%) due 05/24/16		─		–		–			–		–			─		152,876		–		–
	$	32,839,110	$	197,593	$	(44,617	)	$	446	$	(37,615	)	$	32,954,917			$	382,827	$	11,090

High Yield Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 0.5%
Energy - 0.3%
SandRidge Energy, Inc.*		51,923	$	1,094,019
Approach Resources, Inc.*		51,060		151,137
Titan Energy LLC*		17,186		26,123
Total Energy				1,271,279
Consumer, Cyclical - 0.1%
Metro-Goldwyn-Mayer, Inc.*,††		7,040		723,360
Technology - 0.1%
Aspect Software Parent, Inc.*,†††,1,2		64,681		417,193
Consumer, Non-cyclical - 0.0%
Targus Group International Equity, Inc*,†††,1,2		12,825		24,749
Crimson Wine Group Ltd.*		8		85
Total Consumer, Non-cyclical				24,834
Communications - 0.0%
Cengage Learning Acquisitions, Inc.*,††		2,107		15,276
Diversified - 0.0%
Leucadia National Corp.		81		2,146
Total Common Stocks
(Cost $4,002,660)				2,454,088

PREFERRED STOCKS†† - 0.4%
Financial - 0.2%
Morgan Stanley 6.38%3,4	46,000	1,281,100
Industrial - 0.2%
Seaspan Corp. 6.38% due 04/30/19	34,280	875,854
U.S. Shipping Corp.*	14,718	15,454
Total Industrial		891,308
Communications - 0.0%
Medianews Group, Inc.*	11,074	193,795
Total Preferred Stocks
(Cost $2,545,632)		2,366,203

WARRANTS† - 0.0%
Comstock Resources, Inc.
$0.01, 09/06/18††	9,075	76,684
SandRidge Energy, Inc.
$41.34, 10/04/22	488	878
SandRidge Energy, Inc.
$42.03, 10/04/22	205	308
Total Warrants
(Cost $108,149)		77,870

EXCHANGE-TRADED FUNDS† - 1.8%
SPDR Bloomberg Barclays High Yield Bond ETF	159,765	5,866,571
iShares iBoxx $ High Yield Corporate Bond ETF	30,750	2,683,245
SPDR Bloomberg Barclays Short Term High Yield Bond ETF	44,814	1,235,074
Total Exchange-Traded Funds
(Cost $9,858,904)		9,784,890

MONEY MARKET FUND† - 1.2%
Dreyfus Treasury Prime Cash Management Institutional Shares 1.11%5	6,266,674	6,266,674
Total Money Market Fund
(Cost $6,266,674)		6,266,674

	Face Amount~
CORPORATE BONDS†† - 80.4%
Communications - 19.3%
SFR Group S.A.
7.38% due 05/01/266			7,200,000	7,389,000
6.00% due 05/15/226			1,600,000	1,620,000
6.25% due 05/15/246			1,050,000	1,052,625
DISH DBS Corp.
5.88% due 11/15/247			6,150,000	5,988,562
7.75% due 07/01/26			3,610,000	3,795,012
CCO Holdings LLC / CCO Holdings Capital Corp.
5.00% due 02/01/28			5,250,000	5,105,625
5.13% due 05/01/277			4,550,000	4,481,750
MDC Partners, Inc.
6.50% due 05/01/246,7			9,005,000	9,050,025
EIG Investors Corp.
10.88% due 02/01/24			6,350,000	7,048,500
Cengage Learning, Inc.
9.50% due 06/15/246,7			6,475,000	5,859,875
McGraw-Hill Global Education Holdings LLC / McGraw-Hill Global Education Finance
7.88% due 05/15/246			5,769,000	5,696,888
CSC Holdings LLC
5.25% due 06/01/24			2,050,000	2,019,250
6.75% due 11/15/21			1,750,000	1,876,875
6.63% due 10/15/256			1,100,000	1,190,728
5.50% due 04/15/276			550,000	561,000
Telenet Finance Lux Note
3.50% due 03/01/28		EUR	2,500,000	2,994,811
5.50% due 03/01/28			2,400,000	2,400,000
Inmarsat Finance plc
4.88% due 05/15/226			3,275,000	3,266,812
UPCB Finance VII LTD
3.62% due 06/15/29		EUR	2,600,000	3,121,092
Virgin Media Finance PLC
5.00% due 04/15/27		GBP	2,000,000	2,754,114
Sirius XM Radio, Inc.
5.00% due 08/01/276			2,350,000	2,355,875
5.38% due 04/15/256			575,000	598,719
Level 3 Financing, Inc.
5.38% due 01/15/24			1,450,000	1,448,188
5.38% due 08/15/22			900,000	911,520
5.25% due 03/15/26			550,000	539,853
Sprint Communications, Inc.
7.00% due 03/01/206			1,375,000	1,471,250
9.00% due 11/15/186			1,000,000	1,052,600
Virgin Media Secured Finance plc
5.00% due 04/15/27		GBP	1,600,000	2,203,291
5.25% due 01/15/266			250,000	252,500
Midcontinent Communications / Midcontinent Finance Corp.
6.88% due 08/15/236			1,950,000	2,069,438
Zayo Group LLC / Zayo Capital, Inc.
5.75% due 01/15/276,7			1,975,000	2,014,500

High Yield Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
CORPORATE BONDS†† - 80.4% (continued)
Communications - 19.3% (continued)
Altice Financing S.A.
6.63% due 02/15/236		1,700,000	$	1,780,070
Charter Communications Operating LLC / Charter Communications Operating Capital
4.20% due 03/15/287		1,300,000		1,290,340
Anixter, Inc.
5.50% due 03/01/23		1,150,000		1,238,032
Videotron Ltd.
5.13% due 04/15/276		1,100,000		1,149,500
Ziggo Secured Finance BV
5.50% due 01/15/276		1,125,000		1,116,563
T-Mobile USA, Inc.
6.63% due 04/01/23		1,050,000		1,094,625
Nokia Oyj
4.38% due 06/12/27		900,000		889,650
Virgin Media Finance plc
6.38% due 04/15/236		850,000		876,563
TIBCO Software, Inc.
11.38% due 12/01/216		800,000		871,504
AMC Networks, Inc.
4.75% due 08/01/25		650,000		644,312
Match Group, Inc.
6.38% due 06/01/24		500,000		541,875
Total Communications				103,683,312
Financial - 12.2%
Jefferies Finance LLC / JFIN Company-Issuer Corp.
6.88% due 04/15/226		3,865,000		3,913,312
7.38% due 04/01/206		3,600,000		3,703,500
7.25% due 08/15/246		2,500,000		2,565,625
7.50% due 04/15/216		1,800,000		1,863,000
FBM Finance, Inc.
8.25% due 08/15/216		6,202,000		6,589,625
GEO Group, Inc.
5.88% due 10/15/24		2,000,000		2,055,000
5.88% due 01/15/22		1,750,000		1,802,500
6.00% due 04/15/26		900,000		924,750
Kennedy-Wilson, Inc.
5.88% due 04/01/24		4,190,000		4,326,175
Icahn Enterprises, LP / Icahn Enterprises Finance Corp.
5.88% due 02/01/22		4,225,000		4,277,812
Citigroup, Inc.
6.25% 3,4		1,900,000		2,095,700
5.95% 3,4		850,000		905,250
6.30% 3,4		700,000		749,875
NewStar Financial, Inc.
7.25% due 05/01/20		3,050,000		3,160,563
Quicken Loans, Inc.
5.25% due 01/15/286		2,950,000		2,912,240
Greystar Real Estate Partners LLC
5.75% due 12/01/256		2,550,000		2,626,500
CoreCivic, Inc.
4.75% due 10/15/27		2,250,000		2,221,875
American Equity Investment Life Holding Co.
5.00% due 06/15/27		2,050,000		2,124,202
JPMorgan Chase & Co.
6.13% 3,4,7		1,250,000		1,368,750
6.00% 3,4,7		500,000		537,525
Lincoln Finance Ltd.
7.38% due 04/15/216		1,700,000		1,772,250
Jefferies LoanCore LLC / JLC Finance Corp.
6.88% due 06/01/206		1,700,000		1,751,000
Fidelity & Guaranty Life Holdings, Inc.
6.38% due 04/01/216		1,520,000		1,554,200
NFP Corp.
6.88% due 07/15/256		1,400,000		1,410,500
Oxford Finance LLC / Oxford Finance Company-Issuer II, Inc.
6.38% due 12/15/226		1,350,000		1,393,875
Goldman Sachs Group, Inc.
5.30% 3,4		1,100,000		1,168,750
Capital One Financial Corp.
3.75% due 07/28/26		900,000		896,218
USIS Merger Sub, Inc.
6.88% due 05/01/256		800,000		808,000
Bank of America Corp.
6.10% 3,4		700,000		768,250
SBA Communications Corp.
4.00% due 10/01/22		700,000		700,875
Wilton Re Finance LLC
5.88% due 03/30/334,6		650,000		688,188
iStar, Inc.
5.25% due 09/15/22		575,000		578,594
Hospitality Properties Trust
4.95% due 02/15/277		500,000		527,311
EPR Properties
5.75% due 08/15/227		450,000		490,715
Majid AL Futtaim Holding
7.12% 3		300,000		306,794
Wells Fargo & Co.
5.90% 3,4,7		250,000		267,425
Total Financial				65,806,724
Consumer, Non-cyclical - 11.2%
Vector Group Ltd.
6.13% due 02/01/256,7		10,435,000		10,800,225
Valeant Pharmaceuticals International, Inc.
7.00% due 03/15/246,7		6,400,000		6,848,000
5.50% due 11/01/256		1,200,000		1,221,000
6.50% due 03/15/226		1,000,000		1,050,000
Post Holdings, Inc.
5.63% due 01/15/286		3,550,000		3,568,815
5.50% due 03/01/256		1,800,000		1,863,000
Great Lakes Dredge & Dock Corp.
8.00% due 05/15/22		5,125,000		5,362,031
WEX, Inc.
4.75% due 02/01/236		3,380,000		3,451,825

High Yield Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~			Value
CORPORATE BONDS†† - 80.4% (continued)
Consumer, Non-cyclical - 11.2% (continued)
FAGE International S.A./ FAGE USA Dairy Industry, Inc.
5.63% due 08/15/266			3,415,000	$	3,295,475
Midas Intermediate Holdco II LLC / Midas Intermediate Holdco II Finance, Inc.
7.88% due 10/01/226			3,127,000		3,150,453
HCA, Inc.
5.50% due 06/15/47			1,500,000		1,496,250
5.88% due 02/15/267			750,000		793,125
4.50% due 02/15/27			300,000		301,500
Avantor, Inc.
4.75% due 10/01/24		EUR	1,150,000		1,375,633
6.00% due 10/01/246			900,000		896,625
HRG Group, Inc.
7.88% due 07/15/19			2,035,000		2,039,070
Halyard Health, Inc.
6.25% due 10/15/22			1,800,000		1,863,000
KeHE Distributors LLC / KeHE Finance Corp.
7.63% due 08/15/216			1,470,000		1,473,675
Beverages & More, Inc.
11.50% due 06/15/226			1,550,000		1,426,000
Tenet Healthcare Corp.
4.63% due 07/15/24			1,350,000		1,316,250
AMN Healthcare, Inc.
5.13% due 10/01/246			1,175,000		1,210,250
Albertsons Companies LLC / Safeway Incorporated / New Albertson's Inc / Albertson's LLC
6.63% due 06/15/24			1,175,000		1,113,313
Hologic, Inc.
4.38% due 10/15/256			1,050,000		1,065,750
Endo Dac / Endo Finance LLC / Endo Finco, Inc.
5.88% due 10/15/246			840,000		850,500
Central Garden & Pet Co.
5.13% due 02/01/28			700,000		700,000
Acadia Healthcare Company, Inc.
6.50% due 03/01/24			600,000		624,000
Teleflex, Inc.
4.63% due 11/15/27			500,000		504,275
DaVita, Inc.
5.00% due 05/01/25			450,000		449,865
Total Consumer, Non-cyclical					60,109,905
Energy - 10.5%
Unit Corp.
6.63% due 05/15/21			7,750,000		7,808,125
American Midstream Partners Limited Partnership / American Midstream Finance Corp.
8.50% due 12/15/216			7,000,000		7,192,500
Exterran Energy Solutions Limited Partnership / EES Finance Corp.
8.13% due 05/01/256			4,017,000		4,318,275
Alta Mesa Holdings Limited Partnership / Alta Mesa Finance Services Corp.
7.88% due 12/15/24			3,590,000		3,935,537
Covey Park Energy LLC / Covey Park Finance Corp.
7.50% due 05/15/256			3,699,000		3,855,098
PDC Energy, Inc.
5.75% due 05/15/266			2,900,000		2,972,500
Comstock Resources, Inc.
10.00% due 03/15/20			2,475,000		2,552,344
CNX Resources Corp.
8.00% due 04/01/23			1,300,000		1,393,600
5.88% due 04/15/22			1,050,000		1,072,312
Antero Resources Corp.
5.63% due 06/01/23			1,000,000		1,040,000
5.13% due 12/01/22			975,000		994,500
5.00% due 03/01/25			350,000		357,000
QEP Resources, Inc.
5.38% due 10/01/22			1,625,000		1,661,563
5.63% due 03/01/26			360,000		364,950
5.25% due 05/01/23			315,000		318,736
Gibson Energy, Inc.
5.25% due 07/15/246		CAD	2,250,000		1,800,891
NGPL PipeCo LLC
4.88% due 08/15/276			1,525,000		1,582,188
Cheniere Corpus Christi Holdings LLC
5.88% due 03/31/25			1,000,000		1,083,750
5.13% due 06/30/27			425,000		439,620
Legacy Reserves Limited Partnership / Legacy Reserves Finance Corp.
8.00% due 12/01/20			965,000		743,050
6.63% due 12/01/21			1,090,000		735,750
Pattern Energy Group, Inc.
5.88% due 02/01/246			1,375,000		1,443,750
SRC Energy, Inc.
6.25% due 12/01/256			1,225,000		1,252,563
EP Energy LLC / Everest Acquisition Finance, Inc.
8.00% due 02/15/256			1,350,000		985,500
6.38% due 06/15/23			375,000		202,500
Callon Petroleum Co.
6.13% due 10/01/24			1,050,000		1,081,500
Murphy Oil USA, Inc.
5.63% due 05/01/27			1,000,000		1,050,200
Summit Midstream Holdings LLC / Summit Midstream Finance Corp.
5.75% due 04/15/25			1,000,000		1,008,390
Crestwood Midstream Partners Limited Partnership / Crestwood Midstream Finance Corp.
5.75% due 04/01/25			700,000		722,750
6.25% due 04/01/23			250,000		259,800
NuStar Logistics, LP
5.63% due 04/28/27			550,000		559,625
6.75% due 02/01/21			250,000		266,250

High Yield Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~			Value
CORPORATE BONDS†† - 80.4% (continued)
Energy - 10.5% (continued)
Murphy Oil Corp.
5.75% due 08/15/25			625,000	$	639,062
Trinidad Drilling Ltd.
6.63% due 02/15/256			625,000		593,750
Whiting Petroleum Corp.
5.75% due 03/15/217			250,000		256,563
Schahin II Finance Co. SPV Ltd.
5.88% due 09/25/226,8,9			217,167		23,888
BreitBurn Energy Partners Limited Partnership / BreitBurn Finance Corp.
7.88% due 04/15/228			1,750,000		2,100
SandRidge Energy, Inc.
7.50% due 03/15/21†††			250,000		25
Total Energy					56,570,505
Consumer, Cyclical - 9.0%
Ferrellgas, LP / Ferrellgas Finance Corp.
6.75% due 01/15/227			4,493,000		4,156,025
Seminole Hard Rock Entertainment Inc. / Seminole Hard Rock International LLC
5.88% due 05/15/216			4,043,000		4,103,645
Carrols Restaurant Group, Inc.
8.00% due 05/01/22			3,050,000		3,210,125
Suburban Propane Partners Limited Partnership/Suburban Energy Finance Corp.
5.88% due 03/01/27			1,800,000		1,759,500
5.75% due 03/01/25			1,350,000		1,333,125
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.
5.50% due 03/01/256			3,000,000		3,090,000
Delphi Technologies plc
5.00% due 10/01/256			3,050,000		3,088,125
Nathan's Famous, Inc.
6.63% due 11/01/256			2,800,000		2,905,000
Ferrellgas Limited Partnership / Ferrellgas Finance Corp.
6.75% due 06/15/237			1,800,000		1,651,500
6.50% due 05/01/21			1,226,000		1,147,842
AMC Entertainment Holdings, Inc.
6.13% due 05/15/277			1,900,000		1,885,750
5.88% due 11/15/267			500,000		492,500
Reliance Intermediate Holdings, LP
6.50% due 04/01/236			2,200,000		2,326,500
WMG Acquisition Corp.
6.75% due 04/15/226			2,000,000		2,090,000
Tesla, Inc.
5.30% due 08/15/256,7			1,950,000		1,862,250
L Brands, Inc.
6.75% due 07/01/36			1,050,000		1,050,000
7.60% due 07/15/37			700,000		715,750
Titan International, Inc.
6.50% due 11/30/236			1,550,000		1,577,125
Mattel, Inc.
6.75% due 12/31/256			1,425,000		1,444,166
Interval Acquisition Corp.
5.63% due 04/15/23			1,331,000		1,377,585
PetSmart, Inc.
5.88% due 06/01/256			1,600,000		1,228,000
Suburban Propane Partners, LP / Suburban Energy Finance Corp.
5.50% due 06/01/24			1,200,000		1,188,000
Beacon Escrow Corp.
4.88% due 11/01/256			1,025,000		1,028,844
CalAtlantic Group, Inc.
5.00% due 06/15/27			980,000		1,016,750
Wabash National Corp.
5.50% due 10/01/256			825,000		831,188
Allison Transmission, Inc.
4.75% due 10/01/276			600,000		603,750
TVL Finance plc
8.50% due 05/15/23		GBP	360,000		531,589
QVC, Inc.
4.85% due 04/01/24			400,000		420,339
Williams Scotsman International, Inc.
7.88% due 12/15/226			375,000		386,250
Total Consumer, Cyclical					48,501,223
Industrial - 6.8%
Grinding Media Inc. / MC Grinding Media Canada Inc.
7.38% due 12/15/236			5,600,000		6,012,720
Novelis Corp.
5.88% due 09/30/266			2,600,000		2,652,000
6.25% due 08/15/246			2,300,000		2,409,250
Standard Industries, Inc.
4.75% due 01/15/286			4,275,000		4,284,875
5.00% due 02/15/276			300,000		306,750
Amsted Industries, Inc.
5.38% due 09/15/246			3,898,000		4,053,920
5.00% due 03/15/226			500,000		511,875
Tutor Perini Corp.
6.88% due 05/01/256			2,800,000		3,010,000
StandardAero Aviation Holdings, Inc.
10.00% due 07/15/236			1,510,000		1,653,450
BWAY Holding Co.
5.50% due 04/15/246			1,500,000		1,560,000
Jeld-Wen, Inc.
4.88% due 12/15/276			1,500,000		1,515,000
Kratos Defense & Security Solutions, Inc.
6.50% due 11/30/256			1,250,000		1,300,000
Summit Materials LLC / Summit Materials Finance Corp.
8.50% due 04/15/22			1,050,000		1,162,875
Ardagh Packaging Finance plc
6.75% due 05/15/24		EUR	850,000		1,125,764
Cleaver-Brooks, Inc.
7.88% due 03/01/236			950,000		973,750

High Yield Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~			Value
CORPORATE BONDS†† - 80.4% (continued)
Industrial - 6.8% (continued)
Reynolds Group Issuer Incorporated / Reynolds Group Issuer LLC / Reynolds Group Issuer Lu
5.75% due 10/15/20			775,286	$	786,916
Itron, Inc.
5.00% due 01/15/266			750,000		752,812
Infor US, Inc.
5.75% due 05/15/22		EUR	550,000		677,355
Actuant Corp.
5.63% due 06/15/22			600,000		613,500
Wrangler Buyer Corp.
6.00% due 10/01/256			540,000		556,200
Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc.
7.25% due 05/15/246			375,000		408,281
Total Industrial					36,327,293
Basic Materials - 4.7%
Alcoa Nederland Holding B.V.
7.00% due 09/30/266			4,175,000		4,686,437
6.75% due 09/30/246			2,600,000		2,834,000
Eldorado Gold Corp.
6.13% due 12/15/206			7,460,000		7,385,400
Yamana Gold, Inc.
4.95% due 07/15/24			1,625,000		1,699,969
4.63% due 12/15/27			300,000		301,564
Kaiser Aluminum Corp.
5.88% due 05/15/24			1,750,000		1,859,375
Big River Steel LLC / BRS Finance Corp.
7.25% due 09/01/256			1,750,000		1,850,625
Clearwater Paper Corp.
5.38% due 02/01/256			1,100,000		1,105,500
4.50% due 02/01/23			400,000		395,500
GCP Applied Technologies, Inc.
9.50% due 02/01/236			1,248,000		1,385,280
Commercial Metals Co.
5.38% due 07/15/27			1,025,000		1,045,500
Valvoline, Inc.
4.38% due 08/15/25			550,000		555,500
Mirabela Nickel Ltd.
9.50% due 06/24/19			278,115		36,155
Total Basic Materials					25,140,805
Utilities - 4.5%
Terraform Global Operating LLC
9.75% due 08/15/226			8,100,000		8,960,625
LBC Tank Terminals Holding Netherlands BV
6.88% due 05/15/236			8,315,000		8,657,994
AES Corp.
6.00% due 05/15/26			2,150,000		2,322,000
5.13% due 09/01/27			700,000		735,000
AmeriGas Partners Limited Partnership / AmeriGas Finance Corp.
5.50% due 05/20/25			2,200,000		2,222,000
AmeriGas Partners, LP / AmeriGas Finance Corp.
5.75% due 05/20/27			1,250,000		1,262,500
Total Utilities					24,160,119
Technology - 2.0%
First Data Corp.
5.75% due 01/15/246			3,000,000		3,105,000
5.00% due 01/15/246			850,000		874,438
NCR Corp.
6.38% due 12/15/23			2,350,000		2,461,625
Open Text Corp.
5.88% due 06/01/266			750,000		808,125
Micron Technology, Inc.
5.25% due 01/15/246			750,000		779,062
Ascend Learning LLC
6.88% due 08/01/256			650,000		671,125
Infor US, Inc.
6.50% due 05/15/22			600,000		621,000
Oracle Corp.
3.85% due 07/15/367			550,000		581,213
CDK Global, Inc.
4.88% due 06/01/27			550,000		556,875
Microsoft Corp.
4.20% due 11/03/35			450,000		510,580
Total Technology					10,969,043
Telecommunication Services - 0.2%
Univision Communications, Inc.
5.13% due 05/15/236			1,000,000		997,500
Total Corporate Bonds
(Cost $428,964,773)					432,266,429

SENIOR FLOATING RATE INTERESTS††,11 - 21.5%
Industrial - 4.5%
Resource Label Group LLC
6.19% (3 Month USD LIBOR + 8.50%) due 05/26/23	1,883,735	1,855,479
10.19% (3 Month USD LIBOR + 8.50%) due 11/26/23	1,500,000	1,492,500
Diversitech Holdings, Inc.
9.20% (3 Month USD LIBOR + 7.50%) due 06/02/25	2,650,000	2,669,875
Hayward Industries, Inc.
9.82% (1 Month USD LIBOR + 8.25%) due 08/04/25	2,325,000	2,301,750
Arctic Long Carriers
6.07% (1 Month USD LIBOR + 4.50%) due 05/18/23	1,542,250	1,552,861
DAE Aviation
5.32% (1 Month USD LIBOR + 3.75%) due 07/07/22	1,446,301	1,455,948
Advanced Integration Technology LP
6.32% (1 Month USD LIBOR + 4.75%) due 04/03/23	1,290,622	1,297,075

High Yield Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

		Face Amount~		Value
SENIOR FLOATING RATE INTERESTS††,11 - 21.5% (continued)
Industrial - 4.5% (continued)
CPG International LLC
5.59% (3 Month USD LIBOR + 3.75%) due 05/05/24		1,290,250	$	1,292,405
ProAmpac PG Borrower LLC
4.95% (3 Month USD LIBOR + 4.00%) due 11/20/23		924,223		930,868
9.94% (3 Month USD LIBOR + 8.50%) due 11/18/24		350,000		355,250
Recess Holdings, Inc.
5.25% (6 Month USD LIBOR + 3.75%) due 09/30/24		1,233,333		1,237,958
Imagine Print Solutions LLC
6.45% (3 Month USD LIBOR + 4.75%) due 06/21/22		1,094,500		1,067,137
Dimora Brands, Inc.
5.57% (1 Month USD LIBOR + 4.00%) due 08/24/24		997,500		1,004,981
SRS Distribution, Inc.
10.32% (1 Month USD LIBOR + 8.75%) due 02/24/23		950,000		974,937
American Bath Group LLC
6.94% (3 Month USD LIBOR + 5.25%) due 09/30/23		940,476		947,135
Bioplan USA, Inc.
6.32% (1 Month USD LIBOR + 4.75%) due 09/23/21		784,117		765,165
ILPEA Parent, Inc.
7.07% (1 Month USD LIBOR + 5.50%) due 03/02/23		641,875		643,480
CPM Holdings, Inc.
5.82% (1 Month USD LIBOR + 4.25%) due 04/11/22		579,698		586,701
Hardware Holdings LLC
8.19% (3 Month USD LIBOR + 6.50%) due 03/30/20		490,500		475,785
Wencor Group
5.13% (1 Month USDLIBOR + 3.50%) due 06/19/19†††,1		467,692		451,584
Kuehg Corp. - Kindercare
5.44% (3 Month USD LIBOR + 3.75%) due 08/12/22		319,194		319,593
Hillman Group, Inc.
6.36% (3 Month USD LIBOR + 2.25%) due 06/28/19†††,1		242,857		234,840
Signode Industrial Group US, Inc.
7.50% (1 Month USD LIBOR + 3.00%) due 05/01/19		126,000		121,803
NANA Development Corp.
8.37% (3 Month USD LIBOR + 6.75%) due 03/15/18		3,361		3,327
VC GB Holdings, Inc.
4.82% (1 Month USD LIBOR + 3.25%) due 02/28/24		3,002		3,017
Total Industrial				24,041,454
Technology - 4.1%
Camelia Bidco Banc Civica
5.31% (3 Month USD LIBOR + 4.75%) due 10/14/24	GBP	2,000,000		2,696,737
MRI Software LLC
2.21% (3 Month USD LIBOR + 6.25%) due 06/30/23†††,1		2,221,835		2,199,814
7.95% (3 Month USD LIBOR + 6.25%) due 06/30/23†††,1		118,056		116,886
7.83% (3 Month USD LIBOR + 6.25%) due 06/30/23†††,1		117,760		116,593
Evergood 4 ApS (Nets)
3.25% ( 3 Month EURIBOR+ 3.50%) due 11/25/24	EUR	1,600,000		1,921,113
Lytx, Inc.
8.44% (1 Month USD LIBOR + 6.75%) due 08/31/23†††,1		1,890,000		1,845,834
Viewpoint, Inc.
5.94% (3 Month USD LIBOR + 4.25%) due 07/19/24		1,596,000		1,599,990
Bullhorn, Inc.
8.20% (3 Month USD LIBOR + 6.75%) due 11/21/221		1,510,962		1,500,725
Project Alpha (Qlik)
5.04% (6 Month USD LIBOR + 3.50%) due 04/26/24		1,475,925		1,442,097
Advanced Computer Software
10.94% (3 Month USD LIBOR + 9.50%) due 01/31/23		800,000		751,000
6.94% (3 Month USD LIBOR + 5.50%) due 03/18/22		531,800		525,818
Planview, Inc.
6.82% (1 Month USD LIBOR + 5.25%) due 01/27/23†††,1		1,191,000		1,179,090
Cvent, Inc.
5.32% (1 Month USD LIBOR + 3.75%) due 11/29/24		1,100,000		1,100,000
Project Ruby Ultimate Parent Corp.
5.07% (1 Month USD LIBOR + 3.50%) due 02/09/24		894,887		899,737
EIG Investors Corp.
5.46% (3 Month USD LIBOR + 4.00%) due 02/09/23		807,300		811,846
Optiv, Inc.
4.63% (3 Month USD LIBOR + 3.25%) due 02/01/24		825,706		771,003
Aspect Software, Inc.
12.07% (1 Month USD LIBOR + 10.50%) due 05/25/202		651,918		642,139
Masergy Holdings, Inc.
5.44% (3 Month USD LIBOR + 3.75%) due 12/15/23		643,500		641,087
OEConnection LLC
5.69% (3 Month USD LIBOR + 4.00%) due 11/22/24		550,000		550,000
GlobalLogic Holdings, Inc.
6.19% (3 Month USD LIBOR + 4.50%) due 06/20/22		274,924		276,986

High Yield Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
SENIOR FLOATING RATE INTERESTS††,11 - 21.5% (continued)
Technology - 4.1% (continued)
Quorum Business Solutions
6.13% (3 Month USD LIBOR + 4.75%) due 08/07/21	205,088	$	202,524
Total Technology			21,791,019
Consumer, Non-cyclical - 3.8%
CTI Foods Holding Co. LLC
5.07% (1 Month USD LIBOR + 3.50%) due 06/29/20	2,160,000		1,965,600
8.82% (1 Month USD LIBOR + 7.25%) due 06/28/21	590,000		436,600
Immucor, Inc.
6.57% (1 Month USD LIBOR + 5.00%) due 06/15/21	2,089,500		2,120,843
Alegeus Technologies LLC
6.69% (3 Month USD LIBOR + 5.00%) due 04/28/23†††,1	1,393,000		1,380,639
Endo Luxembourg Finance Co.
5.88% (1 Month USD LIBOR + 4.25%) due 04/29/24	1,293,500		1,299,968
Albertson's LLC
4.32% (1 Month USD LIBOR + 2.75%) due 08/25/21	1,253,283		1,227,215
Sunshine Investments B.V.
3.25% (3 Month USD LIBOR + 1.75%) due 12/14/24	1,175,000		1,170,594
Equian LLC
5.23% (3 Month USD LIBOR + 3.75%) due 05/20/24	1,147,125		1,156,451
American Tire Distributors, Inc.
5.82% (1 Month USD LIBOR + 4.25%) due 09/01/21	1,122,587		1,129,603
ADMI Corp.
5.19% (3 Month USD LIBOR + 3.75%) due 04/29/22	989,848		997,895
Smart & Final Stores LLC
5.19% (3 Month USD LIBOR + 3.50%) due 11/15/22	1,000,000		974,580
Reddy Ice Holdings, Inc.
6.88% (Commercial Prime Lending Rate + 4.50%) due 05/01/19	965,298		955,645
IHC Holding Corp.
8.44% (3 Month LIBOR + 6.75%) due 04/30/21†††,1	808,897		802,152
8.35% (3 Month USD LIBOR + 6.75%) due 04/30/21†††,1	153,821		152,538
Avantor, Inc.
5.51% (1 Month USD LIBOR + 4.00%) due 11/21/24	900,000		903,753
Packaging Coordinators Midco, Inc.
5.57% (1 Month USD LIBOR + 4.00%) due 06/30/23	480,000		480,600
5.25% (1 Month USD LIBOR + 4.00%) due 07/01/21†††,1	438,462		400,042
Arctic Glacier Group Holdings, Inc.
5.82% (1 Month USD LIBOR + 4.25%) due 03/20/24	769,188		776,879
JBS USA Lux SA
4.10% (3 Month USD LIBOR + 2.50%) due 10/30/22	645,125		633,351
Give and Go Prepared Foods Corp.
5.70% (3 Month USD LIBOR + 4.25%) due 07/29/23	498,750		500,620
NES Global Talent
6.88% (3 Month USD LIBOR + 5.50%) due 10/03/19	457,524		411,771
RESIC Enterprises, LLC (Lyons Magnus, Inc.)
5.68% (1 Month USD LIBOR + 4.25%) due 11/11/241	375,000		378,049
Surgery Center Holdings, Inc.
4.82% (1 Month USD LIBOR + 3.25%) due 09/02/24	214,463		211,960
Targus Group International, Inc.
15.00% (Prime Rate + 10.50%) due 05/24/16†††,1,2	153,489		–
Total Consumer, Non-cyclical			20,467,348
Consumer, Cyclical - 2.8%
Men's Wearhouse
4.89% (3 Month USD LIBOR + 3.50%) due 06/18/21	1,552,206		1,551,244
Toys 'R' US, Inc.
8.32% (1 Month USD LIBOR + 6.75%) due 01/18/19	1,500,000		1,499,070
BC Equity Ventures LLC
8.07% (1 Month USD LIBOR + 6.50%) due 08/31/22	1,428,882		1,443,170
Truck Hero, Inc.
5.64% (3 Month USD LIBOR + 4.00%) due 04/22/24	1,442,188		1,441,740
Leslie's Poolmart, Inc.
5.37% (2 Month USD LIBOR + 3.75%) due 08/16/23	1,237,477		1,233,059
LegalZoom.com, Inc.
5.94% (3 Month USD LIBOR + 4.50%) due 11/21/24	1,100,000		1,097,250
BBB Industries, LLC
6.07% (1 Month USD LIBOR + 4.50%) due 11/03/21	996,938		1,007,536
Accuride Corp.
6.94% (3 Month USD LIBOR + 5.25%) due 11/17/23	989,785		1,003,395
Mavis Tire
6.67% (2 Month USD LIBOR + 5.25%) due 11/02/20†††,1	926,250		918,847
Talbots, Inc.
6.07% (1 Month USD LIBOR + 4.50%) due 03/19/20	901,603		870,949

High Yield Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
SENIOR FLOATING RATE INTERESTS††,11 - 21.5% (continued)
Consumer, Cyclical - 2.8% (continued)
Sears Roebuck Acceptance Corp.
6.07% (3 Month USD LIBOR + 4.50%) due 01/20/19	793,117	$	797,082
Blue Nile, Inc.
8.19% (3 Month USD LIBOR + 6.50%) due 02/17/23	755,625		755,625
Belk, Inc.
6.10% (3 Month USD LIBOR + 4.75%) due 12/12/22	774,213		632,919
USIC Holding, Inc.
5.19% (3 Month USD LIBOR + 3.50%) due 12/08/23	549,524		552,272
Acosta, Inc.
4.64% (1 Month USD LIBOR + 3.25%) due 09/26/19†††,1	422,222		402,654
3.90% (3 Month LIBOR + 3.25%) due 09/26/19†††,1	111,111		105,962
Total Consumer, Cyclical			15,312,774
Communications - 2.0%
Market Track LLC
5.94% (3 Month USD LIBOR + 4.25%) due 06/05/24	2,493,750		2,481,281
Mcgraw-Hill Global Education Holdings LLC
5.57% (1 Month USD LIBOR + 4.00%) due 05/04/22	1,936,893		1,930,444
Charter Communications Operating, LLC
6.50% (1 Month USD LIBOR + 2.00%) due 04/30/25	1,500,000		1,500,540
Cengage Learning Acquisitions, Inc.
5.71% (1 Month USD LIBOR + 4.25%) due 06/07/23	1,575,080		1,500,264
Houghton Mifflin Co.
4.57% (1 Month USD LIBOR + 3.00%) due 05/28/21	1,338,435		1,238,896
Altice US Finance I Corp.
3.82% (1 Month USD LIBOR + 2.25%) due 07/28/25	646,750		643,652
Anaren, Inc.
9.94% (3 Month USD LIBOR + 8.25%) due 08/18/21	500,000		500,000
Liberty Cablevision of Puerto Rico LLC
4.86% (3 Month USD LIBOR + 3.50%) due 01/07/22	300,000		290,250
Neustar, Inc.
5.15% (3 Month USD LIBOR + 3.75%) due 08/08/24	250,000		252,000
Univision Communications, Inc.
4.32% (1 Month USD LIBOR + 2.75%) due 03/15/24	198,387		197,615
Total Communications			10,534,942
Utilities - 1.7%
Bhi Investments LLC
10.59% (3 Month USD LIBOR + 8.75%) due 02/28/25	1,500,000		1,485,000
6.19% (3 Month USD LIBOR + 4.50%) due 08/28/24	1,416,450		1,402,286
Viva Alamo LLC
5.82% (1 Month USD LIBOR + 4.25%) due 02/22/21	1,935,676		1,909,060
Invenergy Thermal Operating I, LLC
7.19% (3 Month USD LIBOR + 5.50%) due 10/19/22	961,484		903,795
Panda Power
8.19% (3 Month USD LIBOR + 6.50%) due 08/21/20	973,256		888,096
Exgen Texas Power LLC
due 09/18/2110	1,344,814		847,233
MRP Generation Holding
8.69% (3 Month USD LIBOR + 7.00%) due 10/18/22	715,938		658,663
Panda Temple II Power
7.69% (3 Month USD LIBOR + 6.00%) due 04/03/19	508,507		457,656
Terraform AP Acquisition Holdings LLC
5.94% (3 Month USD LIBOR + 4.25%) due 06/27/22	428,325		428,861
Stonewall
7.19% (3 Month USD LIBOR + 5.50%) due 11/13/21	399,000		387,030
Total Utilities			9,367,680
Basic Materials - 1.1%
A-Gas Ltd.
6.44% (3 Month USD LIBOR + 4.75%) due 08/11/24†††,1	2,615,757		2,566,345
EP Minerals LLC
5.98% (3 Month USD LIBOR + 4.50%) due 08/20/20	1,597,852		1,599,849
ICP Industrial, Inc.
5.37% (1 Month USD LIBOR + 4.00%) due 11/03/23	989,657		984,709
Big River Steel LLC
6.69% (3 Month USD LIBOR + 5.00%) due 08/23/23	897,750		904,483
Total Basic Materials			6,055,386
Financial - 0.8%
Americold Realty Operating Partnership, LP
5.32% (1 Month USD LIBOR + 3.75%) due 12/01/22	1,723,148		1,739,311
Jane Street Group LLC
5.88% (3 Month USD LIBOR + 4.50%) due 08/25/22	1,234,375		1,249,039

High Yield Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
SENIOR FLOATING RATE INTERESTS††,11 - 21.5% (continued)
Financial - 0.8% (continued)
York Risk Services
5.32% (1 Month USD LIBOR + 3.75%) due 10/01/21		725,625	$	709,117
American Stock Transfer & Trust
6.20% (3 Month USD LIBOR + 4.50%) due 06/26/20		549,758		550,676
Total Financial				4,248,143
Energy - 0.7%
Moss Creek Resources LLC
9.50% (1 Month USD LIBOR + 8.00%) due 04/07/22†††,1		1,400,000		1,382,500
Cactus Wellhead
7.69% (3 Month USD LIBOR + 6.00%) due 07/31/20		1,180,872		1,175,948
PSS Companies
6.34% (3 Month USD LIBOR + 4.50%) due 01/28/20		527,166		498,171
Riverstone Utopia Member LLC
5.61% (2 Month USD LIBOR + 4.25%) due 10/17/24		400,000		406,000
Summit Midstream Partners, LP
7.57% (1 Month USD LIBOR + 6.00%) due 05/13/22		322,000		327,097
Total Energy				3,789,716
Total Senior Floating Rate Interests
(Cost $115,891,332)				115,608,462

ASSET-BACKED SECURITIES†† - 0.9%
Collateralized Loan Obligations - 0.9%
WhiteHorse X Ltd.
2015-10A, 6.65% (3 Month USD LIBOR + 5.30%) due 04/17/276,11	750,000	723,890
WhiteHorse VII Ltd.
2013-1A, 6.25% (3 Month USD LIBOR + 4.80%) due 11/24/256,11	600,000	598,494
Eaton Vance CLO Ltd.
2014-1A, 6.39% (3 Month USD LIBOR + 5.03%) due 07/15/266,11	600,000	588,487
THL Credit Wind River CLO Ltd.
2014-2A, 6.61% (3 Month USD LIBOR + 5.25%) due 07/15/266,11	500,000	493,669
KVK CLO Ltd.
2015-1A, 7.19% (3 Month USD LIBOR + 5.75%) due 05/20/276,11	500,000	489,941
Jamestown CLO III Ltd.
2013-3A, 5.96% (3 Month USD LIBOR + 4.60%) due 01/15/266,11	500,000	486,460
Regatta IV Funding Ltd.
2014-1A, 6.32% (3 Month USD LIBOR + 4.95%) due 07/25/266,11	500,000	483,990
NewMark Capital Funding CLO Ltd.
2014-2A, 6.14% (3 Month USD LIBOR + 4.80%) due 06/30/266,11	500,000	472,964
Shackleton CLO
2014-6A, 7.10% (3 Month USD LIBOR + 5.75%) due 07/17/266,11	250,000	212,709
Total Collateralized Loan Obligations		4,550,604
Total Asset-Backed Securities
(Cost $3,836,794)		4,550,604

SENIOR FIXED RATE INTERESTS†† - 0.1%
Consumer, Non-cyclical - 0.1%
Hanger, Inc.
11.50% due 08/01/19	575,000		582,187
Total Senior Fixed Rate Interests
(Cost $568,775)			582,187
Total Investments - 106.8%
(Cost $572,043,693)		$	573,957,407
Other Assets & Liabilities, net - (6.8)%			(36,340,074	)
Total Net Assets - 100.0%		$	537,617,333

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS PURCHASED††
Counterparty	Contracts to Buy		Currency		Settlement Date	Settlement Value		Value at December 31, 2017		Net Unrealized Appreciation
Goldman Sachs		74,000		GBP	01/10/18	$	99,236	$	99,932	$	696

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS SOLD††
Counterparty	Contracts to Sell		Currency		Settlement Date	Settlement Value		Value at December 31, 2017		Net Unrealized Depreciation
J.P. Morgan		2,310,000		CAD	01/10/18	$	1,805,883	$	1,837,797	$	(31,914	)
Barclays		2,435,000		EUR	01/10/18		2,876,963		2,922,891		(45,928	)
Barclays		6,161,000		GBP	01/10/18		8,256,633		8,320,006		(63,373	)
Bank of America		6,617,000		EUR	01/10/18		7,827,428		7,942,821		(115,393	)
										$	(256,608	)

High Yield Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

~	The face amount is denominated in U.S. dollars unless otherwise indicated.
*	Non-income producing security.
†	Value determined based on Level 1 inputs, unless otherwise noted — See Note 3.
††	Value determined based on Level 2 inputs, unless otherwise noted — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	Security was fair valued by the Valuation Committee at December 31, 2017. The total market value of fair valued securities amounts to $15,879,766, (cost $17,345,081) or 3.0% of total net assets.
2	Affiliated issuer.
3	Perpetual maturity.
4	Security has a fixed rate coupon which will convert to a floating or variable rate coupon on a future date.
5	Rate indicated is the 7 day yield as of December 31, 2017.
6	Security is a 144A or Section 4(a)(2) security. These securities have been determined to be liquid under guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) securities is $272,680,726 (cost $269,333,694), or 50.7% of total net assets.
7	All or a portion of this security is pledged as reverse repurchase agreements collateral at December 31, 2017.
8	Security is in default of interest and/or principal obligations.
9	Security is a 144A or Section 4(a)(2) security. These securities have been determined to be illiquid and restricted under guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) illiquid and restricted securities is $23,888 (cost $139,296), or 0.0% of total net assets — See Note 8.
10	Term loan interests in the Fund's portfolio generally have variable rates. All or a portion of this security represents unsettled loan positions and may not have a stated coupon rate.
11	Variable rate security. Rate indicated is rate effective at December 31, 2017. In some instances, the underlying reference rate shown was below the minimum rate earned by the security or has been adjusted by a predetermined factor. The settlement status of a position may also impact the effective rate indicated. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.

plc — Public Limited Company

REIT — Real Estate Investment Trust

LIBOR — London Interbank Offered Rate

EURIBOR — European Interbank Offered Rate

CAD — Canadian Dollar

EUR —Euro

GBP — British Pound

See Sector Classification in Other Information section.

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Asset Backed Securities	$	—	$	4,550,604	$	—	$	—	$	4,550,604
Common Stocks		1,273,510		738,636		—		441,942		2,454,088
Corporate Bonds		—		432,266,404		—		25		432,266,429
Forward Foreign Currency Exchange Contracts		—		—		696		—		696
Exchange-Traded Funds		9,784,890		—		—		—		9,784,890
Money Market Fund		6,266,674		—		—		—		6,266,674
Preferred Stocks		—		2,366,203		—		—		2,366,203
Senior Fixed Rate Interests		—		582,187		—		—		582,187
Senior Floating Rate Interests		—		101,345,770		—		14,262,692		115,608,462
Warrants		1,186		76,684		—		—		77,870
Total Assets	$	17,326,260	$	541,926,488	$	696	$	14,704,659	$	573,958,103

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Forward Foreign Currency Exchange Contracts	$	—	$	—	$	256,608	$	—	$	256,608
Unfunded Loan Commitments		—		—		—		664,517		664,517
Total Liabilities	$	—	$	—	$	256,608	$	664,517	$	921,125

* Other financial instruments include forward foreign currency exchange contracts, which are reported as unrealized gain/loss at period end.

High Yield Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

The following is a summary of significant unobservable inputs used in the fair valuation of assets and liabilities categorized within Level 3 of the fair value hierarchy:

Category	Ending Balance at December 31, 2017		Valuation Technique	Unobservable Inputs	Input Range
Assets:
Common Stocks	$	441,942	Enterprise Value	Valuation Multiple	7.7x - 9.0x
Corporate Bond		25	Model Price	Indicative Quote
Senior Floating Rate Interests		14,262,692		Purchase Price
Senior Floating Rate Interests		-	Enterprise Value	Valuation Multiple
Total Assets	$	14,704,659

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, High Yield Fund had securities with a total value of $2,650,353 transfer out of Level 2 into Level 3 due to changes in securities valuation methods and availability of observable inputs. There were no other transfers between levels.

Summary of Fair Value Level 3 Activity

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value for the year ended December 31, 2017:

	Assets												Liabilities
	Senior Floating Rate Interests			Common Stocks			Corporate Bonds			Total			Unfunded Loans Commitments
Beginning Balance	$	11,511,139		$	691,043		$	1,954,000		$	14,156,182		$	(779,130	)
Purchases/Receipts		1,649,917			-			-			1,649,917			500,863
Sales, maturities and paydowns/Fundings		(1,616,654	)		(1,009	)		(2,000,000	)		(3,617,663	)		(428,854	)
Total realized gains or losses included in earnings		29,210			(148,156	)		46,831			(72,115	)		38,642
Total change in unrealized gains or losses included in earnings		38,752			(99,936	)		(831	)		(62,015	)		3,962
Transfers into Level 3		2,650,328			-			25			2,650,353			-
Transfers out of Level 3		-			-			-			-			-
Ending Balance	$	14,262,692		$	441,942		$	25		$	14,704,659		$	(664,517	)
Net Change in unrealized appreciation (depreciation) for investments in securities still held at December 31, 2017	$	9,993		$	(243,401	)	$	-		$	(233,408	)	$	4,947

Affiliated Transactions

Investments representing 5% or more of the outstanding voting shares of a portfolio company of a fund, or control of or by, or common control under the advisor, result in that portfolio company being considered an affiliated company of such fund, as defined in the 1940 Act.

Transactions during the period ended December 31, 2017, in which the portfolio company is an "affiliated person", were as follows:
Security Name	Value 9/30/17		Additions		Reductions			Realized Gain		Change in Unrealized			Value 12/31/17		Shares/ Face Amount 12/31/17		Investment Income
Aspect Software Parent, Inc.	$	666,215	$	–	$	–		$	–	$	(249,022	)	$	417,193		64,481	$	–
Aspect Software, Inc.		645,489		–		(4,094	)		–		744			642,139		651,918		19,237
Targus Group International Equity, Inc		19,667		–		(1,005	)		466		5,621			24,749		12,825		–
Targus Group International, Inc.		–		–		–			–		–			–		153,489		–
	$	1,331,371	$	–	$	(5,099	)	$	466	$	(242,657	)	$	1,084,081			$	19,237

Investment Grade Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 0.0%
Financial - 0.0%
Rescap Liquidating Trust*		5,199	$	26,125
Total Common Stocks
(Cost $262,501)				26,125

PREFERRED STOCKS††† - 0.8%
Financial - 0.7%
Woodbourne Capital Trust III 3.29% (1 Month USD LIBOR + 2.50%)1,2,3,4	950,000	725,626
Woodbourne Capital Trust IV 3.29% (1 Month USD LIBOR + 2.50%)1,2,3,4	950,000	725,626
Woodbourne Capital Trust I 3.28% (1 Month USD LIBOR + 2.50%)1,2,3,4	950,000	725,625
Woodbourne Capital Trust II 3.29% (1 Month USD LIBOR + 2.50%)1,2,3,4	950,000	725,625
Total Financial		2,902,502
Industrial - 0.1%
Seaspan Corp. 6.38% due 04/30/19††	12,190	311,455
Total Preferred Stocks
(Cost $4,123,104)		3,213,957

MUTUAL FUNDS† - 0.6%
Guggenheim Floating Rate Strategies Fund - Institutional Class5	92,801	2,413,762
Total Mutual Funds
(Cost $2,422,047)		2,413,762

MONEY MARKET FUND† - 0.3%
Dreyfus Treasury Prime Cash Management Institutional Shares 1.11%6	1,051,485	1,051,485
Total Money Market Fund
(Cost $1,051,485)		1,051,485

	Face Amount~
ASSET-BACKED SECURITIES†† - 36.3%
Collateralized Loan Obligations - 24.2%
Ladder Capital Commercial Mortgage 2017-FL1 Mortgage Trust
2017-FL1, 2.36% (1 Month USD LIBOR + 0.88%) due 09/15/341,4		4,300,000	4,295,033
2017-FL1, 2.98% (1 Month USD LIBOR + 1.50%) due 09/15/341,4		1,000,000	996,335
Fortress Credit Opportunities IX CLO Ltd.
2017-9A, 2.97% (3 Month USD LIBOR + 1.55%) due 11/15/291,4		3,700,000	3,693,251
Fortress Credit Opportunities VII CLO Ltd.
2016-7A, 3.37% (3 Month USD LIBOR + 2.05%) due 12/15/281,4		3,000,000	3,010,628
Catamaran CLO Ltd.
2016-1A, 3.58% (3 Month USD LIBOR + 1.95%) due 12/20/231,4		3,000,000	3,002,928
PFP Ltd.
2017-3, 2.48% (1 Month USD LIBOR + 1.05%) due 01/14/351,4		1,645,637	1,647,694
2015-2, 3.48% (1 Month USD LIBOR + 2.00%) due 07/14/341,4		1,000,000	999,413
Shackleton CLO Ltd.
2016-7A, 3.31% (3 Month USD LIBOR + 1.95%) due 04/15/271,4		1,500,000	1,512,070
2017-5A, 3.04% (3 Month USD LIBOR + 1.65%) due 05/07/261,4		1,000,000	1,002,818
WhiteHorse VI Ltd.
2016-1A, 3.28% (3 Month USD LIBOR + 1.90%) due 02/03/251,4		1,500,000	1,500,285
2016-1A, 4.13% (3 Month USD LIBOR + 2.75%) due 02/03/251,4		1,000,000	1,012,912
Fortress Credit Opportunities V CLO Ltd.
2017-5A, 3.05% (3 Month USD LIBOR + 1.70%) due 10/15/261,4		1,500,000	1,508,136
2017-5A, 3.70% (3 Month USD LIBOR + 2.35%) due 10/15/261,4		1,000,000	1,002,241
Golub Capital Partners CLO Ltd.
2015-25A, 3.19% (3 Month USD LIBOR + 1.80%) due 08/05/271,4		1,500,000	1,501,844
2016-33A, 3.92% (3 Month USD LIBOR + 2.48%) due 11/21/281,4		1,000,000	1,002,513
Fortress Credit BSL II Ltd.
2017-2A, 3.01% (3 Month USD LIBOR + 1.65%) due 10/19/251,4		2,300,000	2,305,081
Dryden XXVI Senior Loan Fund
2013-26A, 3.86% (3 Month USD LIBOR + 2.50%) due 07/15/251,4		2,250,000	2,253,279
Venture XIX CLO Ltd.
2016-19A, 3.36% (3 Month USD LIBOR + 2.00%) due 01/15/271,4		2,100,000	2,111,578

Investment Grade Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.3% (continued)
Collateralized Loan Obligations - 24.2% (continued)
BSPRT 2017-FL2 Issuer Ltd.
2017-FL2, 2.30% (1 Month USD LIBOR + 0.82%) due 10/15/341,4		2,100,000	$	2,092,985
KVK CLO Ltd.
2017-1A, 3.22% (3 Month USD LIBOR + 1.80%) due 05/15/261,4		1,600,000		1,605,893
2013-1A, due 01/15/284,7		1,000,000		439,575
TCP Waterman CLO Ltd.
2016-1A, 3.64% (3 Month USD LIBOR + 2.05%) due 12/15/281,4		1,000,000		1,015,338
2016-1A, 3.89% (3 Month USD LIBOR + 2.30%) due 12/15/281,4		1,000,000		1,004,360
Madison Park Funding XVI Ltd.
2016-16A, 3.26% (3 Month USD LIBOR + 1.90%) due 04/20/261,4		2,000,000		2,017,670
Cerberus Loan Funding XVII Ltd.
2016-3A, 3.89% (3 Month USD LIBOR + 2.53%) due 01/15/281,4		2,000,000		2,012,896
Flatiron CLO Ltd.
2017-1A, 3.00% (3 Month USD LIBOR + 1.65%) due 01/17/261,4		1,000,000		1,005,773
2017-1A, 2.95% (3 Month USD LIBOR + 1.60%) due 07/17/261,4		1,000,000		1,004,241
Hunt CRE Ltd.
2017-FL1, 3.13% (1 Month USD LIBOR + 1.65%) due 08/15/341,4		1,000,000		1,004,823
2017-FL1, 2.48% (1 Month USD LIBOR + 1.00%) due 08/15/341,4		1,000,000		1,003,885
FS Senior Funding Ltd.
2015-1A, 3.16% (3 Month USD LIBOR + 1.80%) due 05/28/251,4		2,000,000		2,007,988
OZLM Funding II Ltd.
2016-2A, 4.13% (3 Month USD LIBOR + 2.75%) due 10/30/271,4		2,000,000		2,007,794
Flagship CLO VIII Ltd.
2017-8A, 3.06% (3 Month USD LIBOR + 1.70%) due 01/16/261,4		2,000,000		2,004,669
Crown Point CLO III Ltd.
2017-3A, 2.81% (3 Month USD LIBOR + 1.45%) due 12/31/271,4		2,000,000		2,002,455
Golub Capital Partners CLO 16 Ltd.
2017-16A, 3.22% (3 Month USD LIBOR + 1.85%) due 07/25/291,4		2,000,000		1,997,506
NXT Capital CLO LLC
2017-1A, 3.06% (3 Month USD LIBOR + 1.70%) due 04/20/291,4		1,800,000		1,806,325
Resource Capital Corporation Ltd.
2017-CRE5, 2.28% (1 Month USD LIBOR + 0.80%) due 07/15/341,4		1,640,091		1,641,095
Oaktree EIF I Ltd.
2016-A1, 3.95% (3 Month USD LIBOR + 2.60%) due 10/18/271,4		1,500,000		1,504,656
OZLM IX Ltd.
2017-9A, 3.01% (3 Month USD LIBOR + 1.65%) due 01/20/271,4		1,400,000		1,412,449
Steele Creek CLO Ltd.
2017-1A, 3.29% (3 Month USD LIBOR + 1.85%) due 08/21/261,4		1,100,000		1,102,591
Oaktree EIF II Series A2 Ltd.
2017-A2, 3.12% (3 Month USD LIBOR + 1.70%) due 11/15/251,4		1,100,000		1,101,306
Cerberus Loan Funding XVI, LP
2016-2A, 3.71% (3 Month USD LIBOR + 2.35%) due 11/15/271,4		1,000,000		1,018,905
KKR CLO 15 Ltd.
2016-15, 2.91% (3 Month USD LIBOR + 1.56%) due 10/18/281,4		1,000,000		1,014,072
FDF II Ltd.
2016-2A, 4.29% due 05/12/314		1,000,000		1,013,524
CIFC Funding Ltd.
2015-3A, 3.46% (3 Month USD LIBOR + 2.10%) due 10/19/271,4		1,000,000		1,008,426
Betony CLO Ltd.
2016-1A, 3.31% (3 Month USD LIBOR + 1.95%) due 04/15/271,4		1,000,000		1,007,602
Venture XII CLO Ltd.
2017-12A, 2.95% (3 Month USD LIBOR + 1.63%) due 02/28/261,4		1,000,000		1,005,580
AMMC CLO XV Ltd.
2016-15A, 3.44% (3 Month USD LIBOR + 1.90%) due 12/09/261,4		1,000,000		1,004,399
Vibrant CLO III Ltd.
2016-3A, 3.41% (3 Month USD LIBOR + 2.05%) due 04/20/261,4		1,000,000		1,004,036

Investment Grade Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.3% (continued)
Collateralized Loan Obligations - 24.2% (continued)
MONROE CAPITAL BSL CLO Ltd.
2017-1A, 3.20% (3 Month USD LIBOR + 1.75%) due 05/22/271,4		1,000,000	$	1,003,046
Great Lakes CLO Ltd.
2015-1A, 3.31% (3 Month USD LIBOR + 1.95%) due 07/15/261,4		1,000,000		1,002,423
Avery Point V CLO Ltd.
2017-5A, 2.33% (3 Month USD LIBOR + 0.98%) due 07/17/261,4		1,000,000		1,002,326
Figueroa CLO Ltd.
2013-1A, 4.19% (3 Month USD LIBOR + 2.75%) due 03/21/241,4		1,000,000		1,002,298
Northwoods Capital XIV Ltd.
2017-14A, 3.01% (3 Month USD LIBOR + 1.70%) due 11/12/251,4		1,000,000		1,002,246
Nelder Grove CLO Ltd.
2017-1A, 3.27% (3 Month USD LIBOR + 1.80%) due 08/28/261,4		1,000,000		1,001,248
Eaton Vance CLO Ltd.
2017-1A, 2.96% (3 Month USD LIBOR + 1.60%) due 07/15/261,4		1,000,000		1,001,034
AIMCO CLO Series
2015-AA, 3.66% (3 Month USD LIBOR + 2.30%) due 01/15/281,4		1,000,000		1,000,000
Mountain Hawk I CLO Ltd.
2013-1A, 3.54% (3 Month USD LIBOR + 2.18%) due 01/20/241,4		1,000,000		999,957
Monroe Capital CLO 2014-1 Ltd.
2017-1A, 2.71% (3 Month USD LIBOR + 1.35%) due 10/22/261,4		1,000,000		999,807
Atlas Senior Loan Fund IV Ltd.
2017-2A, 2.87% (3 Month USD LIBOR + 1.45%) due 02/17/261,4		1,000,000		999,733
Vibrant CLO II Ltd.
2017-2A, 2.81% (3 Month USD LIBOR + 1.45%) due 07/24/241,4		1,000,000		999,678
Garrison Funding Ltd.
2016-2A, 4.59% (3 Month USD LIBOR + 3.15%) due 09/29/271,4		1,000,000		999,616
Recette Clo Ltd.
2017-1A, 2.66% (3 Month USD LIBOR + 1.30%) due 10/20/271,4		1,000,000		999,278
Dryden 37 Senior Loan Fund
2015-37A, due 04/15/274,7		1,000,000		930,240
Rockwall CDO II Ltd.
2007-1A, 1.93% (3 Month USD LIBOR + 0.55%) due 08/01/241,4		626,248		625,822
Grayson CLO Ltd.
2006-1A, 1.79% (3 Month USD LIBOR + 0.41%) due 11/01/211,4		596,567		595,587
Cent CLO
2014-16A, 3.63% (3 Month USD LIBOR + 2.25%) due 08/01/241,4		500,000		500,829
ACIS CLO Ltd.
2013-1A, 4.30% (3 Month USD LIBOR + 2.95%) due 04/18/241,4		500,000		500,397
Treman Park CLO Ltd.
2015-1A, due 04/20/274,7		500,000		428,315
Babson CLO Ltd.
2014-IA, due 07/20/254,7		650,000		319,275
2012-2A, due 05/15/234,7		1,000,000		12,111
NewStar Arlington Senior Loan Program LLC
2014-1A, 4.67% (3 Month USD LIBOR + 3.30%) due 07/25/251,4		250,000		247,871
Eastland CLO Ltd.
2007-1A, 1.78% (3 Month USD LIBOR + 0.40%) due 05/01/221,4		133,435		133,225
Copper River CLO Ltd.
2007-1A, due 01/20/213,4,7		700,000		77,493
Keuka Park CLO Ltd.
2013-1A, due 10/21/244,7		245,739		22,698
Total Collateralized Loan Obligations				93,637,409
Transport-Aircraft - 4.5%
Apollo Aviation Securitization Equity Trust
2016-2, 4.21% due 11/15/41		2,166,480		2,161,887
2016-1A, 4.88% due 03/17/364		1,237,500		1,260,096
2014-1, 5.13% (WAC) due 12/15/291		975,721		973,170
2014-1, 7.38% (WAC) due 12/15/291		493,142		493,142

Investment Grade Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.3% (continued)
Transport-Aircraft - 4.5% (continued)
Castlelake Aircraft Securitization Trust
2017-1, 3.97% due 07/15/42		2,114,893	$	2,109,606
2015-1A, 4.70% due 12/15/404		984,053		988,980
Willis Engine Securitization Trust II
2012-A, 5.50% due 09/15/374		1,826,440		1,789,547
Emerald Aviation Finance Ltd.
2013-1, 4.65% due 10/15/384		867,025		884,471
2013-1, 6.35% due 10/15/384		173,405		177,589
Falcon Aerospace Ltd.
2017-1, 4.58% due 02/15/424		1,038,840		1,050,664
AASET Trust
2017-1A, 3.97% due 05/16/424		954,500		957,846
ECAF I Ltd.
2015-1A, 4.95% due 06/15/224		924,112		925,177
Rise Ltd.
2014-1A, 4.74% due 02/12/39		754,221		762,706
Raspro Trust
2005-1A, 1.99% (3 Month USD LIBOR + 0.63%) due 03/23/241,4		787,907		752,451
AIM Aviation Finance Ltd.
2015-1A, 4.21% due 02/15/404		740,928		740,683
Turbine Engines Securitization Ltd.
2013-1A, 5.13% due 12/13/483,4		625,417		626,430
Diamond Head Aviation Ltd.
2015-1, 3.81% due 07/14/284		567,648		566,545
AABS Ltd.
2013-1 A, 4.87% due 01/10/38		243,810		246,217
Total Transport-Aircraft				17,467,207
Whole Business - 2.3%
Domino's Pizza Master Issuer LLC
2017-1A, 4.12% due 07/25/474		997,500		1,019,126
2017-1A, 2.62% (3 Month USD LIBOR + 1.25%) due 07/25/471,4		997,500		999,365
2017-1A, 3.08% due 07/25/474		997,500		986,548
Taco Bell Funding LLC
2016-1A, 4.97% due 05/25/464		1,925,625		2,023,274
2016-1A, 3.83% due 05/25/464		493,750		500,450
Wendys Funding LLC
2015-1A, 4.50% due 06/15/454		1,466,250		1,499,944
Jimmy Johns Funding LLC
2017-1A, 3.61% due 07/30/474		1,097,250		1,101,474
Drug Royalty III Limited Partnership
2016-1A, 3.98% due 04/15/274		681,556		680,463
Total Whole Business				8,810,644
Collateralized Debt Obligations - 1.5%
Anchorage Credit Funding Ltd.
2016-4A, 3.50% due 02/15/354		3,750,000		3,716,885
2016-3A, 3.85% due 10/28/334		1,000,000		994,746
Putnam Structured Product Funding Ltd.
2003-1A, 2.48% (1 Month USD LIBOR + 1.00%) due 10/15/381,4		593,289		565,741
Highland Park CDO I Ltd.
2006-1A, 1.86% (3 Month USD LIBOR + 0.40%) due 11/25/511,3,4		464,814		445,662
N-Star REL CDO VIII Ltd.
2006-8A, 1.72% (1 Month USD LIBOR + 0.36%) due 02/01/411,4		266,229		265,821
Total Collateralized Debt Obligations				5,988,855
Net Lease - 1.5%
Capital Automotive LLC
2017-1A, 3.87% due 04/15/474		2,980,000		3,021,688
Store Master Funding I-VII
2016-1A, 3.96% due 10/20/464		2,840,218		2,810,484
Total Net Lease				5,832,172
Transport-Container - 1.2%
Textainer Marine Containers Ltd.
2017-2A, 3.52% due 06/20/424		2,691,035		2,692,186
Cronos Containers Program Ltd.
2013-1A, 3.08% due 04/18/284		960,000		956,692

Investment Grade Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.3% (continued)
Transport-Container - 1.2% (continued)
Textainer Marine Containers V Ltd.
2017-1A, 3.72% due 05/20/424		938,750	$	944,325
Total Transport-Container				4,593,203
Automotive - 0.7%
Hertz Vehicle Financing II, LP
2015-1A, 2.73% due 03/25/214		1,700,000		1,704,972
Hertz Vehicle Financing LLC
2016-4A, 2.65% due 07/25/224		1,000,000		981,705
Total Automotive				2,686,677
Single Family Residence - 0.2%
CoreVest American Finance 2017-1 Trust
2017-1, 3.36% due 10/15/494		1,000,000		994,502
Insurance - 0.1%
Chesterfield Financial Holdings LLC
2014-1A, 4.50% due 12/15/344		544,500		544,397
Diversified Payment Rights - 0.1%
CIC Receivables Master Trust
REGD, 4.89% due 10/07/21†††		225,965		233,381
Total Asset-Backed Securities
(Cost $142,651,042)				140,788,447

COLLATERALIZED MORTGAGE OBLIGATIONS†† - 30.1%
Government Agency - 14.3%
Fannie Mae
3.03% due 02/01/30	3,600,000	3,602,250
2.94% due 10/01/32	2,592,643	2,561,825
3.11% due 04/01/30	1,997,660	2,015,886
3.09% due 10/01/29	2,000,000	2,008,213
3.17% due 01/01/30	1,550,000	1,577,038
3.13% due 01/01/30	1,500,000	1,517,771
3.01% due 12/01/27	1,500,000	1,509,943
3.00% due 12/01/29	1,500,000	1,497,838
2.86% due 09/01/29	1,450,000	1,431,558
3.12% due 10/01/32	1,200,000	1,191,372
3.23% due 01/01/30	1,000,000	1,021,667
3.19% due 02/01/30	1,000,000	1,021,356
3.31% due 01/01/33	1,000,000	1,019,602
3.05% due 01/01/30†††	1,000,000	1,004,521
2.96% due 11/01/29	900,000	892,617
3.08% due 10/01/32	850,000	849,982
2.90% due 11/01/29	850,000	837,788
3.14% due 09/01/32	650,000	648,808
2.99% due 09/01/29	650,000	647,610
2.82% due 10/01/29	550,000	542,346
3.05% due 10/01/29	500,000	500,279
3.22% due 01/01/30	450,000	460,455
Freddie Mac Multifamily Structured Pass Through Certificates
2017-KIR3, 3.28% due 08/25/27	4,100,000	4,227,708
2017-KGX1, 3.00% due 10/25/27	3,500,000	3,500,971
2017-K070, 3.30% (WAC) due 11/25/271	3,000,000	3,103,185
2017-KW03, 3.02% due 06/25/27	3,000,000	3,013,090
2017-K062, 3.51% due 12/25/26	1,100,000	1,145,405
2017-K066, 3.20% due 06/25/27	1,000,000	1,021,437
2017-K067, 3.28% due 08/25/27	600,000	614,638
Seasoned Credit Risk Transfer Trust Series 2017-1
2017-4, 2.25% due 06/25/57	2,000,000	1,992,688
2017-4, 3.50% due 06/25/57	1,800,000	1,839,445
Fannie Mae-Aces
2017-M11, 2.98% due 08/25/29	2,500,000	2,472,888
2017-M8, 3.06% (WAC) due 05/25/271	750,000	758,875
Freddie Mac Seasoned Credit Risk Transfer
2017-3, 3.00% due 07/25/56	2,301,663	2,259,377
Seasoned Credit Risk Transfer Trust Series
2017-3, 2.25% due 07/25/56	976,357	966,463
Total Government Agency		55,276,895
Residential Mortgage Backed Securities - 8.4%
Soundview Home Loan Trust
2006-OPT5, 1.69% (1 Month USD LIBOR + 0.14%) due 07/25/361	3,577,589	3,486,158

Investment Grade Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 30.1% (continued)
Residential Mortgage Backed Securities - 8.4% (continued)
American Home Mortgage Investment Trust
2007-1, 2.08% due 05/25/478		10,563,064	$	2,137,966
2006-1, 1.73% (1 Month USD LIBOR + 0.40%) due 03/25/461		1,074,658		1,039,571
GSAA Home Equity Trust
2005-6, 1.98% (1 Month USD LIBOR + 0.43%) due 06/25/351		3,150,000		2,889,140
Towd Point Mortgage Trust
2017-5, 2.15% (1 Month USD LIBOR + 0.60%) due 02/25/571,4		1,146,305		1,147,704
2016-1, 2.75% (WAC) due 02/25/551,4		936,049		936,273
Countrywide Asset-Backed Certificates
2006-6, 1.72% (1 Month USD LIBOR + 0.17%) due 09/25/361		2,143,376		2,016,068
Deephaven Residential Mortgage Trust 2017-3
2017-3A, 2.58% (WAC) due 10/25/471,4		1,897,989		1,897,871
Structured Asset Investment Loan Trust
2005-11, 2.27% (1 Month USD LIBOR + 0.72%) due 01/25/361		1,431,975		1,416,702
Banc of America Funding Trust
2015-R4, 1.50% (1 Month USD LIBOR + 0.17%) due 01/27/351,4		718,013		680,942
2014-R7, 1.69% (1 Month USD LIBOR + 0.14%) due 09/26/361,4		621,472		601,345
Nationstar Home Equity Loan Trust
2007-B, 1.54% (1 Month USD LIBOR + 0.22%) due 04/25/371		1,223,449		1,211,377
Angel Oak Mortgage Trust LLC 2015-1
2017-3, 2.71% (WAC) due 11/25/47†††,1,4		1,169,167		1,166,537
CSMC Series
2015-12R, 1.83% (1 Month USD LIBOR + 0.50%) due 11/30/371,4		1,118,409		1,115,103
Park Place Securities Incorporated Asset Backed Pass Through Certificates Series
2005-WHQ3, 2.50% (1 Month USD LIBOR + 0.95%) due 06/25/351		1,000,000		1,000,869
Structured Asset Securities Corporation Mortgage Loan Trust
2006-BC4, 1.72% (1 Month USD LIBOR + 0.17%) due 12/25/361		1,026,462		992,199
Luminent Mortgage Trust
2006-2, 1.75% (1 Month USD LIBOR + 0.20%) due 02/25/461		1,178,523		954,834
RALI Series Trust
2006-QO2, 1.77% (1 Month USD LIBOR + 0.22%) due 02/25/461		2,041,903		900,398
CIM Trust
2017-2, 3.36% (1 Month USD LIBOR + 2.00%) due 12/25/571,4		870,748		879,803
Deutsche Alt-A Securities Mortgage Loan Trust Series
2007-OA2, 1.77% (1 Year CMT Rate + 0.77%) due 04/25/471		793,431		732,401
CIT Mortgage Loan Trust
2007-1, 3.00% (1 Month USD LIBOR + 1.45%) due 10/25/371,4		724,471		728,911
MASTR Adjustable Rate Mortgages Trust
2003-5, 2.90% (WAC) due 11/25/331		652,741		626,108
Stanwich Mortgage Loan Company LLC
2017-NPA1, 3.60% due 03/16/224		600,266		602,990
American Home Mortgage Assets Trust
2007-1, 1.70% (1 Year CMT Rate + 0.70%) due 02/25/471		934,548		596,481
GCAT LLC
2017-1, 3.38% due 03/25/474		554,169		553,830
Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust
2006-AR9, 1.90% (1 Year CMT Rate + 0.84%) due 11/25/461		554,101		467,132
VOLT LIV LLC
2017-NPL1, 3.50% due 02/25/474		456,588		457,248
Stanwich Mortgage Loan Co.
2016-NPA1, 3.84% (WAC) due 10/16/461,4		452,778		449,829

Investment Grade Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 30.1% (continued)
Residential Mortgage Backed Securities - 8.4% (continued)
NRPL Trust
2015-1A, 3.88% due 11/01/544		394,213	$	393,739
Bayview Opportunity Master Fund IVb Trust
2017-RN1, 3.60% (WAC) due 02/28/321,4		302,603		302,610
UCFC Manufactured Housing Contract
1997-2, 7.38% due 10/15/28		176,669		187,234
Total Residential Mortgage Backed Securities				32,569,373
Commercial Mortgage Backed Securities - 5.1%
Wells Fargo Commercial Mortgage Trust
2017-SMP, 2.23% (1 Month USD LIBOR + 0.75%) due 12/15/221,4		2,000,000		2,000,000
2016-C32, 1.35% (WAC) due 01/15/591		6,353,533		493,022
2016-NXS5, 1.55% (WAC) due 01/15/591		4,921,657		402,915
2016-C37, 1.03% (WAC) due 12/15/491		3,857,766		213,634
COMM Mortgage Trust
2015-CR26, 4.49% (WAC) due 10/10/481		1,217,000		1,181,940
2015-CR26, 1.04% (WAC) due 10/10/481		10,045,911		580,457
Hospitality Mortgage Trust
2017-HIT, 2.09% (1 Month USD LIBOR + 0.85%) due 05/08/301,4		1,400,000		1,401,749
Americold LLC Trust
2010-ARTA, 7.44% due 01/14/294		1,250,000		1,376,558
Morgan Stanley Capital I Trust
2016-UB11, 1.66% (WAC) due 08/15/491		7,634,837		739,942
2017-H1, 1.46% (WAC) due 06/15/501		4,982,963		471,867
SG Commercial Mortgage Securities Trust
2016-C5, 2.02% (WAC) due 10/10/481		9,872,907		1,162,192
GAHR Commercial Mortgage Trust
2015-NRF, 3.38% (WAC) due 12/15/341,4		1,000,000		1,006,830
Morgan Stanley Bank of America Merrill Lynch Trust
2014-C19, 4.75% due 12/15/46†††,4		990,347		1,006,106
JP Morgan Chase Commercial Mortgage Securities Trust
2014-CBM, 3.43% (1 Month USD LIBOR + 1.95%) due 10/15/291,4		1,000,000		1,000,001
GS Mortgage Securities Corporation Trust
2017-STAY, 2.83% (1 Month USD LIBOR + 1.35%) due 07/15/321,4		1,000,000		982,103
UBS Commercial Mortgage Trust
2017-C2, 1.16% (WAC) due 08/15/501		11,971,329		969,858
GE Business Loan Trust
2007-1A, 1.65% (1 Month USD LIBOR + 0.17%) due 04/16/351,4		973,539		946,229
Citigroup Commercial Mortgage Trust
2016-GC37, 1.80% (WAC) due 04/10/491		3,811,317		430,666
2016-C2, 1.79% (WAC) due 08/10/261		2,479,810		291,946
2016-P5, 1.55% (WAC) due 10/10/491		1,981,085		187,481
JPMDB Commercial Mortgage Securities Trust
2016-C2, 1.70% (WAC) due 06/15/491		8,874,671		814,572
LSTAR Commercial Mortgage Trust
2014-2, 5.13% (WAC) due 01/20/411,4		500,000		502,259
JPMCC Commercial Mortgage Securities Trust
2017-JP5, 1.11% (WAC) due 03/15/501		6,960,014		481,914
BANK
2017-BNK4, 1.46% (WAC) due 05/15/501		4,974,325		474,821
CFCRE Commercial Mortgage Trust
2016-C3, 1.07% (WAC) due 01/10/481		5,904,834		393,616
CD Mortgage Trust
2016-CD1, 1.44% (WAC) due 08/10/491		2,575,515		235,808
Total Commercial Mortgage Backed Securities				19,748,486
Military Housing - 2.3%
GMAC Commercial Mortgage Asset Corp.
2007-HCKM, 6.11% due 08/10/523,4		1,503,394		1,700,341
2003-PRES, 6.24% due 10/10/414		1,381,681		1,554,828

Investment Grade Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 30.1% (continued)
Military Housing - 2.3% (continued)
Freddie Mac Military Housing Bonds Resecuritization Trust Certificates
2015-R1, 12.43% (WAC) due 11/25/551,4		2,639,070	$	2,970,603
Mid-Atlantic Military Family Communities LLC
5.30% due 08/01/504		1,268,085		1,272,570
Capmark Military Housing Trust
2007-ROBS, 6.06% due 10/10/523,4		477,783		500,514
2007-AETC, 5.75% due 02/10/523,4		332,984		337,665
HP Communities LLC
5.78% due 03/15/463		500,000		551,244
Total Military Housing				8,887,765
Total Collateralized Mortgage Obligations
(Cost $115,939,148)				116,482,519

U.S. GOVERNMENT SECURITIES†† - 9.4%
U.S. Treasury Bond
due 11/15/469	45,922,000	20,522,138
due 11/15/449	33,465,600	15,887,031
Total U.S. Government Securities
(Cost $34,658,766)		36,409,169

CORPORATE BONDS†† - 6.4%
Financial - 4.8%
Station Place Securitization Trust
2.19% (1 Month USD LIBOR + 0.90%) due 07/24/181,4	3,300,000	3,300,000
2.30% (1 Month USD LIBOR + 0.75%) due 08/24/181,4	1,300,000	1,300,000
2.68% (1 Month USD LIBOR + 1.13%) due 02/25/491,4	333,333	333,457
Bank of America Corp.
6.30% 2,10	1,925,000	2,175,250
Citigroup, Inc.
5.95% 2,10	1,000,000	1,065,000
5.90% 2,10	500,000	532,500
6.25% 2,10	450,000	496,350
American Equity Investment Life Holding Co.
5.00% due 06/15/27	1,460,000	1,512,847
Station Place Securitization Trust Series
2.54% (1 Month USD LIBOR + 1.25%) due 11/24/181,4	1,500,000	1,500,000
KeyCorp
5.00% 2,10	1,045,000	1,076,350
Aurora Military Housing LLC
6.89% due 01/15/47†††,4	750,000	950,178
Hospitality Properties Trust
5.25% due 02/15/26	849,000	911,844
MetLife, Inc.
10.75% due 08/01/39	500,000	836,250
Wilton Re Finance LLC
5.88% due 03/30/334,10	475,000	502,906
BBC Military Housing-Navy Northeast LLC
6.30% due 10/15/49†††	415,000	457,091
Pacific Northwest Communities LLC
5.91% due 06/15/503	400,000	438,184
Atlantic Marine Corporations Communities LLC
5.43% due 12/01/503,4	376,361	381,510
JPMorgan Chase & Co.
6.00% 2,10	349,165	375,370
ACC Group Housing LLC
6.35% due 07/15/543	300,000	361,449
Wells Fargo & Co.
5.90% 2,10	157,027	167,972
Total Financial		18,674,508
Basic Materials - 0.7%
Yamana Gold, Inc.
4.95% due 07/15/24	1,485,000	1,553,510
BHP Billiton Finance USA Ltd.
6.75% due 10/19/754,10	800,000	934,072
Total Basic Materials		2,487,582
Consumer, Non-cyclical - 0.5%
Offutt AFB America First Community LLC
5.46% due 09/01/504	1,911,815	2,054,557
Consumer, Cyclical - 0.2%
Northern Group Housing LLC
6.80% due 08/15/533	600,000	749,121
Energy - 0.1%
Hess Corp.
7.30% due 08/15/31	300,000	363,826
Communications - 0.1%
SFR Group S.A.
7.38% due 05/01/264	350,000	359,188
Total Corporate Bonds
(Cost $23,575,742)		24,688,782

FEDERAL AGENCY BONDS†† - 3.6%
Fannie Mae Principal Strips
due 05/15/309	3,150,000	2,171,770
due 05/15/299,11	1,750,000	1,248,622
due 01/15/309	1,000,000	698,560
Total Fannie Mae Principal Strips		4,118,952
Freddie Mac Principal Strips
due 03/15/319	2,950,000	1,975,814
due 07/15/329	2,700,000	1,727,614
Total Freddie Mac Principal Strips		3,703,428
Freddie Mac11
due 12/14/299	2,900,000	2,033,256
due 01/02/349	850,000	516,068
Total Freddie Mac		2,549,324
Freddie Mac Strips
due 09/15/299	2,600,000	1,841,538

Investment Grade Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
FEDERAL AGENCY BONDS†† - 3.6% (continued)
Tennessee Valley Authority
5.38% due 04/01/56		600,000	$	851,835
4.25% due 09/15/65		700,000		827,576
Total Tennessee Valley Authority				1,679,411
Total Federal Agency Bonds
(Cost $13,889,267)				13,892,653

FOREIGN GOVERNMENT DEBT†† - 2.0%
Republic of France
due 01/31/189	EUR	6,510,000	7,815,163
Total Foreign Government Debt
(Cost $7,676,789)			7,815,163

SENIOR FLOATING RATE INTERESTS††,1 - 1.8%
Technology - 0.7%
Misys Ltd.
4.98% (3 Month USD LIBOR + 3.50%) due 06/13/24	1,246,875	1,249,905
Internet Brands, Inc.
5.34% (3 Month USD LIBOR + 3.75%) due 09/13/24	574,271	575,563
Epicor Software
5.32% (1 Month USD LIBOR + 3.75%) due 06/01/22	564,636	565,647
EIG Investors Corp.
5.46% (3 Month USD LIBOR + 4.00%) due 02/09/23	250,542	251,952
Total Technology		2,643,067
Communications - 0.5%
Cengage Learning Acquisitions, Inc.
5.71% (1 Month USD LIBOR + 4.25%) due 06/07/23	1,563,830	1,489,548
Proquest LLC
5.32% (1 Month USD LIBOR + 3.75%) due 10/24/21	489,842	495,662
Total Communications		1,985,210
Consumer, Non-cyclical - 0.4%
Packaging Coordinators Midco, Inc.
5.57% (1 Month USD LIBOR + 4.00%) due 06/30/23	691,250	692,114
DJO Finance LLC
4.70% (1 Month USD LIBOR + 3.25%) due 06/08/20	492,443	485,145
NES Global Talent
6.88% (3 Month USD LIBOR + 5.50%) due 10/03/19	113,942	102,548
American Tire Distributors, Inc.
5.82% (1 Month USD LIBOR + 4.25%) due 09/01/21	1,329	1,338
Total Consumer, Non-cyclical		1,281,145
Consumer, Cyclical - 0.2%
Petco Animal Supplies, Inc.
4.38% (3 Month USD LIBOR + 3.00%) due 01/26/23	1,181,955	889,055
Financial - 0.0%
American Stock Transfer & Trust
6.20% (3 Month USD LIBOR + 4.50%) due 06/26/20	93,417	93,573
Total Senior Floating Rate Interests
(Cost $7,211,486)		6,892,050

FEDERAL AGENCY DISCOUNT NOTES†† - 1.5%
Federal Home Loan Bank12
1.25% due 01/18/189,13	6,000,000	5,996,444
Total Federal Agency Discount Notes
(Cost $5,996,444)		5,996,444

MUNICIPAL BONDS†† - 1.2%
California - 0.6%
Newport Mesa Unified School District General Obligation Unlimited
due 08/01/419	1,540,000	630,769
due 08/01/469	750,000	247,590
Beverly Hills Unified School District California General Obligation Unlimited
due 08/01/399	1,410,000	610,417
Cypress School District General Obligation Unlimited
due 08/01/489	1,000,000	280,230
Total California		1,769,006
Ohio - 0.4%
American Municipal Power, Inc. Revenue Bonds
8.08% due 02/15/50	1,030,000	1,755,377
Illinois - 0.2%
State of Illinois General Obligation Unlimited
5.65% due 12/01/38	500,000	572,640
5.10% due 06/01/33	500,000	540,890
Total Illinois		1,113,530
Total Municipal Bonds
(Cost $4,320,073)		4,637,913

FEDERAL AGENCY NOTES†† - 0.3%
Fannie Mae11
3.12% due 01/01/30	1,000,000	1,011,528
Total Federal Agency Notes
(Cost $1,010,859)		1,011,528

COMMERCIAL PAPER†† - 7.2%
Hewlett-Packard Co.
1.69% due 01/16/1813	6,000,000	5,995,775
Rogers Communications, Inc.
1.80% due 01/03/1813	5,500,000	5,499,450

Investment Grade Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COMMERCIAL PAPER†† - 7.2% (continued)
Marriott International, Inc.
1.50% due 01/09/1813		3,000,000	$	2,999,000
1.57% due 01/22/1813		2,000,000		1,998,168
Total Marriott International, Inc.				4,997,168
American Water Capital Corp.
1.90% due 01/10/1813		3,500,000		3,498,338
Molex Electronic Technologies
2.05% due 01/24/1813		3,000,000		2,996,071
Bemis Company, Inc.
1.85% due 01/08/1813		2,900,000		2,898,957
Waste Management, Inc.
1.66% due 01/04/1813		2,000,000		1,999,683
Total Commercial Paper
(Cost $27,885,442)				27,885,442
Total Investments - 101.5%
(Cost $392,674,195)			$	393,205,439
Other Assets & Liabilities, net - (1.5)%				(5,811,053	)
Total Net Assets - 100.0%			$	387,394,386

CENTRALLY CLEARED INTEREST RATE SWAPS††
Counterparty	Exchange		Floating Rate Type	Floating Rate Index	Fixed Rate			Payment Frequency	Maturity Date	Notional Amount			Market Value			Value and Unrealized Gain (Loss)
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.24	%	Semiannually	08/11/27	$	(39,600,000	)	$	342,866		$	342,866
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		1.67	%	Semiannually	08/16/20		(29,400,000	)		136,571			136,571
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		1.90	%	Semiannually	08/11/22		(12,900,000	)		111,441			111,441
BOA Merrill Lynch		CME	Receive	3 Month USD-LIBOR		1.71	%	Semiannually	08/11/20		(7,600,000	)		79,290			79,290
BOA Merrill Lynch		CME	Receive	3 Month USD LIBOR		1.90	%	Semiannually	09/07/24		(2,900,000	)		73,399			73,399
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.07	%	Semiannually	05/26/24		(4,590,000	)		61,717			61,717
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.17	%	Semiannually	08/22/27		(2,300,000	)		48,162			48,162
BOA Merrill Lynch		CME	Receive	3 Month USD LIBOR		2.03	%	Semiannually	08/18/24		(2,500,000	)		41,942			41,942
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.19	%	Semiannually	08/15/27		(2,200,000	)		41,184			41,184
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.15	%	Semiannually	08/21/27		(1,500,000	)		32,783			32,783
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.24	%	Semiannually	08/17/27		(2,000,000	)		29,440			29,440
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		1.99	%	Semiannually	08/22/24		(7,700,000	)		12,394			12,394
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.59	%	Semiannually	11/13/47		(1,900,000	)		(8,619	)		(8,619	)
																$	1,002,570

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS††
Counterparty	Contracts to Buy		Currency		Settlement Date	Settlement Value		Value at December 31, 2017		Net Unrealized Appreciation
Goldman Sachs		1,003,000		EUR	01/10/18	$	1,184,915	$	1,203,967	$	19,052

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS††
Counterparty	Contracts to Sell		Currency		Settlement Date	Settlement Value		Value at December 31, 2017		Net Unrealized Depreciation
J.P. Morgan		1,003,000		EUR	01/10/18		1,186,534		1,203,967		(17,433	)
Goldman Sachs		6,510,000		EUR	01/31/18		7,717,279		7,826,215		(108,936	)
										$	(126,369	)

~	The face amount is denominated in U.S. dollars unless otherwise indicated.
*	Non-income producing security.
†	Value determined based on Level 1 inputs, unless otherwise noted — See Note 3.

Investment Grade Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

††	Value determined based on Level 2 inputs, unless otherwise noted — See Note 3.
†††	Value determined based on Level 3 inputs, unless otherwise noted — See Note 3.
1	Variable rate security. Rate indicated is rate effective at December 31, 2017. In some instances, the underlying reference rate shown was below the minimum rate earned by the security or has been adjusted by a predetermined factor. The settlement status of a position may also impact the effective rate indicated. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
2	Perpetual maturity.
3	Security is a 144A or Section 4(a)(2) security. These securities have been determined to be illiquid and restricted under guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) illiquid and restricted securities is $9,072,115 (cost $10,475,878), or 2.3% of total net assets — See Note 8.
4	Security is a 144A or Section 4(a)(2) security. These securities have been determined to be liquid under guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) securities is $178,799,799 (cost $180,832,416), or 46.2% of total net assets.
5	Affiliated issuer.
6	Rate indicated is the 7 day yield as of December 31, 2017.
7	Security has no stated coupon. However, it is expected to receive residual cash flow payments on defined deal dates.
8	Security is an interest-only strip. Rate indicated is effective yield at December 31, 2017.
9	Zero coupon rate security.
10	Security has a fixed rate coupon which will convert to a floating or variable rate coupon on a future date.
11	On September 7, 2008, the issuer was placed in conservatorship by the Federal Housing Finance Agency (FHFA). As conservator, the FHFA has full powers to control the assets and operations of the firm.
12	The issuer operates under a Congressional charter; its securities are neither issued nor guaranteed by the U.S. Government.
13	Rate indicated is the effective yield at the time of purchase.

CME — Chicago Mercantile Exchange

LIBOR — London Interbank Offered Rate

WAC — Weighted Average Coupon

CMT — Constant Maturity Treasury

EUR — Euro    

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Asset Backed Securities	$	—	$	140,555,066	$	—	$	233,381	$	140,788,447
Collateralized Mortgage Obligations		—		113,305,355		—		3,177,164		116,482,519
Commercial Paper		—		27,885,442		—		—		27,885,442
Common Stocks		26,125		—		—		—		26,125
Corporate Bonds		—		23,281,513		—		1,407,269		24,688,782
Forward Foreign Currency Exchange Contracts		—		—		19,052		—		19,052
Federal Agency Bonds		—		13,892,653		—		—		13,892,653
Federal Agency Discount Notes		—		5,996,444		—		—		5,996,444
Federal Agency Notes		—		1,011,528		—		—		1,011,528
Foreign Government Debt		—		7,815,163		—		—		7,815,163
Interest Rate Swaps		—		—		1,011,189		—		1,011,189
Money Market Fund		1,051,485		—		—		—		1,051,485
Municipal Bonds		—		4,637,913		—		—		4,637,913
Mutual Funds		2,413,762		—		—		—		2,413,762
Preferred Stocks		—		311,455		—		2,902,502		3,213,957
Senior Floating Rate Interests		—		6,892,050		—		—		6,892,050
U.S. Government Securities		—		36,409,169		—		—		36,409,169
Total Assets	$	3,491,372	$	379,970,698	$	1,030,241	$	7,720,316	$	394,235,680

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Forward Foreign Currency Exchange Contracts	$	—	$	—	$	126,368	$	—	$	126,368
Interest Rate Swaps Agreements		—		—		8,619		—		8,619
Total Liabilities	$	—	$	—	$	134,987	$	—	$	134,987

* Other financial instruments includes forward foreign currency exchange contracts, which are reported as unrealized gain/loss at period end.

Investment Grade Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

The following is a summary of significant unobservable inputs used in the fair valuation of assets and liabilities categorized within Level 3 of the fair value hierarchy:

Category	Ending Balance at December 31, 2017		Valuation Technique	Unobservable Inputs	Input Range
Assets:
Asset Backed Securities	$	233,381	Option Adjusted Spread off the prior month end broker mark over the 3 month LIBOR	Indicative Quote
Collateralized Mortgage Obligations		3,177,164	Option Adjusted Spread off the prior month end broker mark over the 3 month LIBOR	Indicative Quote
Corporate Bonds		1,407,269	Option Adjusted Spread off the prior month end broker mark over the 3 month LIBOR	Indicative Quote
Federal Agency Notes		1,011,528	Option Adjusted Spread off the prior month end broker mark over the 3 month LIBOR	Indicative Quote
Preferred Stocks		2,902,502	Option Adjusted Spread off the prior month end broker mark over the 3 month LIBOR	Indicative Quote
Total Assets	$	8,731,844

Any remaining Level 3 securities held by the Funds and excluded from the tables above, were not considered material to the Fund.

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were $1,700,341 transferred between levels.

Summary of Fair Value Level 3 Activity

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value for the year ended December 31, 2017:

	Assets
	Collateralized Mortgage Obligations			Federal Agency Notes		Asset-Backed Securities			Preferred Stocks		Corporate Bonds			Total Assets
Beginning Balance	$	3,510,034		$	-	$	245,278		$	2,865,891	$	1,371,562		$	7,992,765
Purchases/Receipts		1,343,750			1,010,859		-			-		-			2,354,609
Sales, maturities and paydowns/Fundings		(6,765	)		-		(12,717	)		-		(4,091	)		(23,573	)
Total realized gains or losses included in earnings		-			-		-			-		-			-
Total change in unrealized gains or losses included in earnings		30,486			669		820			36,611		39,798			108,384
Transfers into Level 3		-			-		-			-		-			-
Transfers out of Level 3		(1,700,341	)		-		-			-		-			(1,700,341	)
Ending Balance	$	3,177,164		$	1,011,528	$	233,381		$	2,902,502	$	1,407,269		$	8,731,844
Net Change in unrealized appreciation (depreciation) for investments in securities still held at December 31, 2017	$	3,670		$	668	$	820		$	36,612	$	36,023		$	77,793

Affiliated Transactions

Investments representing 5% or more of the outstanding voting shares of a portfolio company of a fund, or control of or by, or common control under GI, result in that portfolio company being considered an affiliated company of such fund, as defined in the 1940 Act.

Transactions during the period ended December 31, 2017, in which the portfolio company is an "affiliated person", were as follows:

Security Name	Value 09/30/17		Additions		Reductions			Realized Loss			Change in Unrealized			Value 12/31/17		Shares 12/31/17		Investment Income
Guggenheim Floating Rate Strategies Fund - Institutional Class	$	–	$	4,426,655	$	(2,000,000	)	$	(4,608	)	$	(8,285	)	$	2,413,762		92,801	$	26,410

Large Cap Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 98.5%
Financial - 29.8%
JPMorgan Chase & Co.		23,403	$	2,502,718
Berkshire Hathaway, Inc. — Class B*		11,038		2,187,952
Bank of America Corp.		67,490		1,992,305
Citigroup, Inc.		22,081		1,643,047
Wells Fargo & Co.		23,115		1,402,387
T. Rowe Price Group, Inc.		7,844		823,071
BB&T Corp.		16,038		797,410
Zions Bancorporation		15,175		771,345
SunTrust Banks, Inc.		11,705		756,026
E*TRADE Financial Corp.*		13,072		647,979
Allstate Corp.		6,063		634,857
Unum Group		10,634		583,700
Welltower, Inc. REIT		8,467		539,940
Charles Schwab Corp.		10,258		526,953
Piedmont Office Realty Trust, Inc. — Class A REIT		26,043		510,703
Liberty Property Trust REIT		10,615		456,551
Morgan Stanley		8,519		446,992
Host Hotels & Resorts, Inc. REIT		21,622		429,197
Omega Healthcare Investors, Inc. REIT		15,231		419,462
Assured Guaranty Ltd.		11,627		393,807
KeyCorp		17,002		342,930
Regions Financial Corp.		19,250		332,640
American International Group, Inc.		5,449		324,651
Federated Investors, Inc. — Class B		7,699		277,780
Loews Corp.		4,763		238,293
Equity Commonwealth REIT*		6,130		187,026
Rayonier, Inc. REIT		5,647		178,615
Hartford Financial Services Group, Inc.		1,938		109,071
Total Financial				20,457,408
Consumer, Non-cyclical - 18.3%
Pfizer, Inc.		33,904		1,228,003
Johnson & Johnson		8,480		1,184,826
Merck & Company, Inc.		18,333		1,031,598
Procter & Gamble Co.		9,976		916,595
Hormel Foods Corp.		18,163		660,952
Tyson Foods, Inc. — Class A		7,904		640,777
Express Scripts Holding Co.*		7,994		596,672
HCA Healthcare, Inc.*		6,588		578,690
Bunge Ltd.		8,567		574,674
United Therapeutics Corp.*		3,707		548,451
Zimmer Biomet Holdings, Inc.		3,805		459,149
UnitedHealth Group, Inc.		2,051		452,163
Archer-Daniels-Midland Co.		11,173		447,814
Quest Diagnostics, Inc.		4,537		446,849
DaVita, Inc.*		5,093		367,969
Philip Morris International, Inc.		3,338		352,660
AmerisourceBergen Corp. — Class A		3,822		350,936
Humana, Inc.		1,394		345,810
Medtronic plc		3,728		301,036
Post Holdings, Inc.*		3,441		272,630
TreeHouse Foods, Inc.*		4,777		236,270
JM Smucker Co.		1,604		199,281
Ingredion, Inc.		1,421		198,656
Western Union Co.		8,376		159,228
Total Consumer, Non-cyclical				12,551,689
Consumer, Cyclical - 10.4%
Wal-Mart Stores, Inc.		13,463		1,329,471
Southwest Airlines Co.		11,939		781,407
Lear Corp.		3,679		649,932
DR Horton, Inc.		10,840		553,599
Goodyear Tire & Rubber Co.		16,221		524,101
CVS Health Corp.		6,851		496,697
Target Corp.		7,523		490,876
JetBlue Airways Corp.*		21,229		474,256
PVH Corp.		3,280		450,049
Carnival Corp.		6,345		421,118
PACCAR, Inc.		5,153		366,275
MGM Resorts International		10,869		362,916
Lowe's Companies, Inc.		2,062		191,642
Total Consumer, Cyclical				7,092,339
Energy - 9.8%
Chevron Corp.		14,694		1,839,542
Exxon Mobil Corp.		18,875		1,578,705
Marathon Oil Corp.		39,981		676,878
Kinder Morgan, Inc.		36,145		653,140
Hess Corp.		10,503		498,577
Diamondback Energy, Inc.*		3,347		422,559
Concho Resources, Inc.*		2,644		397,182
Whiting Petroleum Corp.*		12,796		338,838
Valero Energy Corp.		3,358		308,634
Total Energy				6,714,055
Industrial - 8.8%
WestRock Co.		12,721		804,095
Corning, Inc.		20,220		646,837
Owens Corning		6,735		619,216
Republic Services, Inc. — Class A		8,692		587,666
Crown Holdings, Inc.*		9,105		512,156
Carlisle Companies, Inc.		4,273		485,627
General Electric Co.		26,811		467,852
Eagle Materials, Inc.		3,594		407,200
Eaton Corporation plc		4,622		365,184
Snap-on, Inc.		1,873		326,464
Jabil, Inc.		11,304		296,730
Timken Co.		5,146		252,926
Honeywell International, Inc.		1,555		238,475
Total Industrial				6,010,428
Technology - 6.4%
Intel Corp.		30,932		1,427,821
Xerox Corp.		19,021		554,462
QUALCOMM, Inc.		8,159		522,339
Apple, Inc.		2,826		478,244
VMware, Inc. — Class A*		2,972		372,451
Oracle Corp.		7,552		357,059
CSRA, Inc.		9,802		293,276
Qorvo, Inc.*		4,000		266,400
NCR Corp.*		4,081		138,713
Total Technology				4,410,765
Utilities - 5.9%
Public Service Enterprise Group, Inc.		14,367		739,900
Exelon Corp.		18,280		720,415
Ameren Corp.		10,541		621,814

Large Cap Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 98.5% (continued)
Utilities - 5.9% (continued)
UGI Corp.		11,068	$	519,642
OGE Energy Corp.		15,287		503,095
Edison International		6,979		441,352
SCANA Corp.		8,068		320,945
Duke Energy Corp.		2,116		177,977
Total Utilities				4,045,140
Basic Materials - 4.4%
Nucor Corp.		9,897		629,251
Reliance Steel & Aluminum Co.		6,421		550,858
DowDuPont, Inc.		7,680		546,970
Cabot Corp.		8,706		536,202
Steel Dynamics, Inc.		12,114		522,477
Freeport-McMoRan, Inc.*		13,123		248,812
Total Basic Materials				3,034,570
Communications - 4.1%
Cisco Systems, Inc.		30,723		1,176,691
AT&T, Inc.		17,095		664,654
Verizon Communications, Inc.		11,964		633,254
Time Warner, Inc.		3,495		319,688
Total Communications				2,794,287
Diversified - 0.6%
Leucadia National Corp.		15,460		409,535
Total Common Stocks
(Cost $54,129,073)				67,520,216

MONEY MARKET FUND† - 1.6%
Dreyfus Treasury Prime Cash Management Institutional Shares 1.11%1	1,100,233		1,100,233
Total Money Market Fund
(Cost $1,100,233)			1,100,233
Total Investments - 100.1%
(Cost $55,229,306)		$	68,620,449
Other Assets & Liabilities, net - (0.1)%			(40,479	)
Total Net Assets - 100.0%		$	68,579,970

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
1	Rate indicated is the 7 day yield as of December 31, 2017.

plc – Public Limited Company

REIT – Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	67,520,216	$	—	$	—	$	67,520,216
Money Market Fund		1,100,233		—		—		1,100,233
Total Assets	$	68,620,449	$	—	$	—	$	68,620,449

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were no transfers between levels.

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
MUTUAL FUNDS† - 2.6%
Guggenheim Floating Rate Strategies Fund - Institutional Class1		1,274,218	$	33,142,418
Guggenheim Strategy Fund II1		577,229		14,436,503
Guggenheim Strategy Fund I1		465,528		11,666,138
Guggenheim Strategy Fund III1		377,219		9,438,030
Total Mutual Funds
(Cost $68,629,367)				68,683,089

MONEY MARKET FUND† - 2.6%
Dreyfus Treasury Prime Cash Management Institutional Shares 1.11%2	68,766,131	68,766,131
Total Money Market Fund
(Cost $68,766,131)		68,766,131

	Face Amount~
ASSET-BACKED SECURITIES†† - 36.0%
Collateralized Loan Obligations - 28.1%
Ladder Capital Commercial Mortgage 2017-FL1 Mortgage Trust
2017-FL1, 2.36% (1 Month USD LIBOR +0.88%) due 09/15/343,4		34,400,000	34,360,269
West CLO 2014-1 Ltd.
2017-1A, 2.27% (3 Month USD LIBOR +0.92%) due 07/18/263,4		24,000,000	24,041,614
Fortress Credit Opportunities IX CLO Ltd.
2017-9A, 2.97% (3 Month USD LIBOR + 1.55%) due 11/15/293,4		23,800,000	23,756,585
Shackleton 2015-VIII CLO Ltd.
2017-8A, 2.28% (3 Month USD LIBOR +0.92%) due 10/20/273,4		23,000,000	23,010,420
Telos CLO Ltd.
2017-6A, 2.62% (3 Month USD LIBOR + 1.27%) due 01/17/273,4		19,900,000	19,955,221
2013-4A, 4.10% (3 Month USD LIBOR + 2.75%) due 07/17/243,4		500,000	500,858
Venture XVI CLO Ltd.
2017-16A, 2.48% (3 Month USD LIBOR + 1.12%) due 04/15/263,4		20,000,000	20,003,658
CIFC Funding Ltd.
2017-3A, 2.31% (3 Month USD LIBOR +0.95%) due 07/22/263,4		14,500,000	14,514,811
2017-4A, 2.73% (3 Month USD LIBOR + 1.38%) due 10/17/263,4		5,000,000	5,009,550
Fortress Credit BSL II Ltd.
2017-2A, 2.51% (3 Month USD LIBOR + 1.15%) due 10/19/253,4		19,000,000	19,055,703
Fortress Credit Opportunities VII CLO Ltd.
2016-7A, 3.37% (3 Month USD LIBOR + 2.05%) due 12/15/283,4		17,000,000	17,060,224
Hunt CRE Ltd.
2017-FL1, 2.48% (1 Month USD LIBOR + 1.00%) due 08/15/343,4		14,600,000	14,656,718
Oaktree EIF II Series A2 Ltd.
2017-A2, 2.57% (3 Month USD LIBOR + 1.15%) due 11/15/253,4		14,600,000	14,623,950
Golub Capital Partners CLO Ltd.
2016-33A, 3.92% (3 Month USD LIBOR + 2.48%) due 11/21/283,4		9,000,000	9,022,622
2015-25A, 3.19% (3 Month USD LIBOR + 1.80%) due 08/05/273,4		5,000,000	5,006,147
BSPRT 2017-FL2 Issuer Ltd.
2017-FL2, 2.30% (1 Month USD LIBOR +0.82%) due 10/15/343,4		13,500,000	13,454,905
TICP CLO Ltd.
2014-3A, 2.54% (3 Month USD LIBOR + 1.18%) due 01/20/273,4		13,350,000	13,384,031
Steele Creek CLO Ltd.
2017-1A, 2.77% (3 Month USD LIBOR + 1.33%) due 08/21/263,4		11,300,000	11,353,022
2017-1A, 3.29% (3 Month USD LIBOR + 1.85%) due 08/21/263,4		2,000,000	2,004,710
Vibrant CLO II Ltd.
2017-2A, 2.26% (3 Month USD LIBOR +0.90%) due 07/24/243,4		8,232,909	8,226,155
2017-2A, 2.81% (3 Month USD LIBOR + 1.45%) due 07/24/243,4		4,850,000	4,848,437
Vibrant CLO III Ltd.
2016-3A, 2.84% (3 Month USD LIBOR + 1.48%) due 04/20/263,4		8,800,000	8,894,179
2016-3A, 3.41% (3 Month USD LIBOR + 2.05%) due 04/20/263,4		4,000,000	4,016,143
Atlas Senior Loan Fund III Ltd.
2017-1A, 2.25% (3 Month USD LIBOR +0.83%) due 11/17/273,4		12,000,000	11,998,271
Marathon CLO V Ltd.
2017-5A, 2.31% (3 Month USD LIBOR +0.87%) due 11/21/273,4		12,000,000	11,984,170

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.0% (continued)
Collateralized Loan Obligations - 28.1% (continued)
KVK CLO Ltd.
2017-1A, 3.22% (3 Month USD LIBOR + 1.80%) due 05/15/263,4		5,600,000	$	5,620,625
2017-2A, 2.54% (3 Month USD LIBOR + 1.18%) due 07/15/263,4		5,000,000		5,004,668
2017-2A, 3.91% (3 Month USD LIBOR + 2.55%) due 07/15/263,4		1,000,000		999,386
2013-1A, due 01/15/284,5		750,000		329,681
Fortress Credit Opportunities V CLO Ltd.
2017-5A, 3.05% (3 Month USD LIBOR + 1.70%) due 10/15/263,4		5,200,000		5,228,205
2017-5A, 3.40% due 10/15/264		4,000,000		3,992,181
2017-5A, 3.70% (3 Month USD LIBOR + 2.35%) due 10/15/263,4		1,000,000		1,002,241
2017-5A, 4.50% (3 Month USD LIBOR + 3.15%) due 10/15/263,4		1,000,000		999,562
Figueroa CLO Ltd.
2017-2A, 2.88% (3 Month USD LIBOR + 1.25%) due 06/20/273,4		10,000,000		10,051,349
2013-1A, 4.19% (3 Month USD LIBOR + 2.75%) due 03/21/243,4		500,000		501,149
Jamestown CLO III Ltd.
2017-3A, 2.50% (3 Month USD LIBOR + 1.14%) due 01/15/263,4		9,400,000		9,413,064
PFP Ltd.
2017-3, 2.48% (1 Month USD LIBOR + 1.05%) due 01/14/353,4		6,347,456		6,355,392
2015-2, 3.48% (1 Month USD LIBOR + 2.00%) due 07/14/343,4		3,000,000		2,998,238
Resource Capital Corporation Ltd.
2017-CRE5, 2.28% (1 Month USD LIBOR +0.80%) due 07/15/343,4		9,165,214		9,170,824
Palmer Square CLO Ltd.
2017-1A, 2.39% (3 Month USD LIBOR +0.97%) due 05/15/253,4		8,947,088		8,952,886
Ares XXXIII CLO Ltd.
2016-1A, 2.84% (3 Month USD LIBOR + 1.35%) due 12/05/253,4		8,800,000		8,864,326
Monroe Capital CLO 2014-1 Ltd.
2017-1A, 2.71% (3 Month USD LIBOR + 1.35%) due 10/22/263,4		8,100,000		8,098,440
ABPCI Direct Lending Fund CLO I LLC
2016-1A, 4.06% (3 Month USD LIBOR + 2.70%) due 12/22/283,4		8,000,000		8,025,574
AIMCO CLO Series 2015-A
2018-AA, 2.413% (3 Month USD LIBOR +0.85%) due 01/15/283,4		8,000,000		7,992,135
NXT Capital CLO LLC
2017-1A, 3.06% (3 Month USD LIBOR + 1.70%) due 04/20/293,4		7,700,000		7,727,058
ACIS CLO Ltd.
2014-4A, 2.80% (3 Month USD LIBOR + 1.42%) due 05/01/263,4		4,000,000		4,000,058
2013-1A, 2.22% (3 Month USD LIBOR +0.87%) due 04/18/243,4		3,676,419		3,675,698
ABPCI Direct Lending Fund CLO II LLC
2017-1A, 3.25% (3 Month USD LIBOR + 1.78%) due 07/20/293,4		7,500,000		7,559,259
Seneca Park CLO Limited
2017-1A, 2.85% (3 Month USD LIBOR + 1.50%) due 07/17/263,4		4,000,000		4,011,510
2017-1A, 2.47% (3 Month USD LIBOR + 1.12%) due 07/17/263,4		3,500,000		3,503,068
TICP CLO II Ltd.
2017-2A, 2.91% (3 Month USD LIBOR + 1.55%) due 07/20/263,4		4,000,000		4,004,152
2017-2A, 2.52% (3 Month USD LIBOR + 1.16%) due 07/20/263,4		3,500,000		3,508,792
Northwoods Capital X Ltd.
2017-10A, 2.94% (3 Month USD LIBOR + 1.55%) due 11/04/253,4		4,000,000		4,004,609
2017-10A, 2.47% (3 Month USD LIBOR + 1.08%) due 11/04/253,4		3,500,000		3,499,440
Crown Point CLO III Ltd.
2015-3A, 2.27% (3 Month USD LIBOR +0.91%) due 12/31/273,4		7,270,000		7,277,036

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.0% (continued)
Collateralized Loan Obligations - 28.1% (continued)
Woodmont Trust
2017-3A, 2.97% (3 Month USD LIBOR + 1.73%) due 10/18/293,4		4,700,000	$	4,719,489
2017-2A, 3.15% (3 Month USD LIBOR + 1.80%) due 07/18/283,4		2,500,000		2,520,397
Flagship CLO VIII Ltd.
2017-8A, 3.06% (3 Month USD LIBOR + 1.70%) due 01/16/263,4		6,900,000		6,916,109
Cerberus Loan Funding XVII Ltd.
2016-3A, 3.89% (3 Month USD LIBOR + 2.53%) due 01/15/283,4		6,500,000		6,541,912
A Voce CLO Ltd.
2017-1A, 2.52% (3 Month USD LIBOR + 1.16%) due 07/15/263,4		6,400,000		6,404,335
Avery Point V CLO Ltd.
2017-5A, 2.33% (3 Month USD LIBOR +0.98%) due 07/17/263,4		6,300,000		6,314,657
Venture XIX CLO Ltd.
2016-19A, 3.36% (3 Month USD LIBOR + 2.00%) due 01/15/273,4		6,100,000		6,133,631
OCP CLO 2015-8 Ltd.
2017-8A, 2.20% (3 Month USD LIBOR +0.85%) due 04/17/273,4		6,000,000		6,003,245
Northwoods Capital Ltd.
2017-14A, 2.61% (3 Month USD LIBOR + 1.30%) due 11/12/253,4		5,700,000		5,715,314
Cent CLO LP
2017-21A, 2.58% (3 Month USD LIBOR + 1.21%) due 07/27/263,4		5,500,000		5,515,122
Cent CLO 20 Ltd.
2017-20A, 3.00% (3 Month USD LIBOR + 1.63%) due 01/25/263,4		3,250,000		3,252,026
2017-20A, 2.47% (3 Month USD LIBOR + 1.10%) due 01/25/263,4		2,100,000		2,103,026
Galaxy XVIII CLO Ltd.
2017-18A, 2.53% (3 Month USD LIBOR + 1.17%) due 10/15/263,4		5,300,000		5,314,445
OZLM IX Ltd.
2017-9A, 3.01% (3 Month USD LIBOR + 1.65%) due 01/20/273,4		5,100,000		5,145,350
Venture XII CLO Ltd.
2017-12A, 2.95% (3 Month USD LIBOR + 1.63%) due 02/28/263,4		5,100,000		5,128,457
Flagship CLO
2017-8A, 2.61% (3 Month USD LIBOR + 1.25%) due 01/16/263,4		5,000,000		5,024,801
Great Lakes CLO Ltd.
2015-1A, 3.31% (3 Month USD LIBOR + 1.95%) due 07/15/263,4		5,000,000		5,012,116
Atlas Senior Loan Fund IV Ltd.
2017-2A, 2.87% (3 Month USD LIBOR + 1.45%) due 02/17/263,4		5,000,000		4,998,665
GoldenTree Loan Opportunities VII Ltd.
2013-7A, 2.52% (3 Month USD LIBOR + 1.15%) due 04/25/253,4		4,987,254		4,987,612
Regatta V Funding Ltd.
2017-1A, 2.53% (3 Month USD LIBOR + 1.16%) due 10/25/263,4		4,900,000		4,900,161
Sound Point CLO IV Ltd.
2017-3A, 2.46% (3 Month USD LIBOR + 1.10%) due 01/21/263,4		4,700,000		4,713,452
Symphony CLO XIV Ltd.
2017-14A, 3.21% (3 Month USD LIBOR + 1.85%) due 07/14/263,4		4,700,000		4,707,670
Golub Capital Partners CLO 16 Ltd.
2017-16A, 3.07% (3 Month USD LIBOR + 1.70%) due 07/25/293,4		4,700,000		4,702,956
Oaktree EIF I Ltd.
2016-A1, 3.95% (3 Month USD LIBOR + 2.60%) due 10/18/273,4		4,500,000		4,513,969
Shackleton CLO Ltd.
2016-7A, 3.31% (3 Month USD LIBOR + 1.95%) due 04/15/273,4		4,250,000		4,284,197
TICP CLO I Ltd.
2017-1A, 2.97% (3 Month USD LIBOR + 1.60%) due 04/26/263,4		4,250,000		4,272,908
Cerberus Loan Funding XVI, LP
2016-2A, 3.41% (3 Month USD LIBOR + 2.05%) due 11/15/273,4		4,000,000		4,080,906
TCP Waterman CLO Ltd.
2016-1A, 3.64% (3 Month USD LIBOR + 2.05%) due 12/15/283,4		4,000,000		4,061,353

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.0% (continued)
Collateralized Loan Obligations - 28.1% (continued)
FDF II Ltd.
2016-2A, 4.29% due 05/12/314		4,000,000	$	4,054,094
FS Senior Funding Ltd.
2015-1A, 4.01% (3 Month USD LIBOR + 2.65%) due 05/28/253,4		2,000,000		2,008,874
2015-1A, 3.16% (3 Month USD LIBOR + 1.80%) due 05/28/253,4		2,000,000		2,007,988
Newstar Commercial Loan Funding LLC
2017-1A, 3.83% (3 Month USD LIBOR + 2.50%) due 03/20/273,4		3,000,000		3,012,014
2016-1A, 5.21% (3 Month USD LIBOR + 3.75%) due 02/25/283,4		1,000,000		999,988
WhiteHorse VI Ltd.
2016-1A, 3.28% (3 Month USD LIBOR + 1.90%) due 02/03/253,4		4,000,000		4,000,759
Cent CLO Ltd.
2013-19A, 2.71% (3 Month USD LIBOR + 1.33%) due 10/29/253,4		3,850,000		3,851,440
OZLM VIII Ltd.
2017-8A, 2.48% (3 Month USD LIBOR + 1.13%) due 10/17/263,4		3,750,000		3,756,424
Fortress Credit Opportunities VI CLO Ltd.
2015-6A, 3.44% (3 Month USD LIBOR + 1.90%) due 10/10/263,4		2,750,000		2,749,137
2015-6A, 4.24% (3 Month USD LIBOR + 2.70%) due 10/10/263,4		1,000,000		1,000,966
Anchorage Capital CLO 4 Ltd.
2017-4A, 3.06% (3 Month USD LIBOR + 1.68%) due 07/28/263,4		3,500,000		3,511,555
Flagship VII Ltd.
2017-7A, 2.48% (3 Month USD LIBOR + 1.12%) due 01/20/263,4		3,300,000		3,311,244
Catamaran CLO Ltd.
2016-1A, 3.58% (3 Month USD LIBOR + 1.95%) due 12/20/233,4		3,250,000		3,253,172
Marathon CLO VII Ltd.
2017-7A, 3.03% (3 Month USD LIBOR + 1.65%) due 10/28/253,4		3,000,000		3,024,698
Northwoods Capital XIV Ltd.
2017-14A, 3.01% (3 Month USD LIBOR + 1.70%) due 11/12/253,4		3,000,000		3,006,737
Fifth Street SLF II Ltd.
2015-2A, 3.30% (3 Month USD LIBOR + 1.92%) due 09/29/273,4		3,000,000		3,004,682
Regatta IV Funding Ltd.
2017-1A, 2.39% (3 Month USD LIBOR + 1.02%) due 07/25/263,4		3,000,000		2,999,353
FDF I Ltd.
2015-1A, 4.40% due 11/12/304		3,000,000		2,994,564
Venture XVII CLO Ltd.
2017-17A, 2.44% (3 Month USD LIBOR + 1.08%) due 07/15/263,4		2,800,000		2,796,672
Bsprt Issuer Ltd.
2017-FL1, 2.83% (1 Month USD LIBOR + 1.35%) due 06/15/273,4		2,700,000		2,709,266
AMMC CLO XV Ltd.
2016-15A, 3.44% (3 Month USD LIBOR + 1.90%) due 12/09/263,4		2,400,000		2,410,557
Nelder Grove CLO Ltd.
2017-1A, 3.27% (3 Month USD LIBOR + 1.80%) due 08/28/263,4		2,400,000		2,402,995
KKR CLO 15 Ltd.
2016-15, 2.91% (3 Month USD LIBOR + 1.56%) due 10/18/283,4		2,300,000		2,332,366
AIMCO CLO Series
2017-AA, 2.46% (3 Month USD LIBOR + 1.10%) due 07/20/263,4		2,200,000		2,200,753
Madison Park Funding XVI Ltd.
2016-16A, 3.26% (3 Month USD LIBOR + 1.90%) due 04/20/263,4		2,000,000		2,017,670
Garrison Funding Ltd.
2016-2A, 3.64% (3 Month USD LIBOR + 2.20%) due 09/29/273,4		2,000,000		2,012,993
OCP CLO Ltd.
2016-2A, 3.45% (3 Month USD LIBOR + 2.00%) due 11/22/253,4		2,000,000		2,010,795
OZLM Funding II Ltd.
2016-2A, 4.13% (3 Month USD LIBOR + 2.75%) due 10/30/273,4		2,000,000		2,007,794
Oaktree CLO 2015-1 Ltd.
2017-1A, 2.37% (3 Month USD LIBOR +0.87%) due 10/20/273,4		2,000,000		2,002,857

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.0% (continued)
Collateralized Loan Obligations - 28.1% (continued)
Carlyle Global Market Strategies CLO Ltd.
2013-4A, 2.83% (3 Month USD LIBOR + 1.47%) due 10/15/253,4		2,000,000	$	2,000,926
OHA Loan Funding Ltd.
2017-1A, 2.81% (3 Month USD LIBOR + 1.45%) due 07/23/253,4		2,000,000		1,999,594
Recette Clo Ltd.
2017-1A, 2.66% (3 Month USD LIBOR + 1.30%) due 10/20/273,4		2,000,000		1,998,557
Crestline Denali CLO Ltd.
2017-1A, 2.42% (3 Month USD LIBOR + 1.05%) due 10/26/273,4		2,000,000		1,997,830
Regatta III Funding Ltd.
2017-1A, 2.41% (3 Month USD LIBOR + 1.05%) due 04/15/263,4		2,000,000		1,997,805
LCM XXII Ltd.
2016-22A, 2.64% (3 Month USD LIBOR + 1.28%) due 10/20/283,4		1,725,000		1,729,598
Flatiron CLO Ltd.
2017-1A, 2.95% (3 Month USD LIBOR + 1.60%) due 07/17/263,4		1,700,000		1,707,211
Madison Park Funding XIV Ltd.
2017-14A, 2.91% (3 Month USD LIBOR + 1.55%) due 07/20/263,4		1,600,000		1,606,042
Betony CLO Ltd.
2016-1A, 3.31% (3 Month USD LIBOR + 1.95%) due 04/15/273,4		1,500,000		1,511,403
Dryden 37 Senior Loan Fund
2015-37A, due 04/15/274,5		1,500,000		1,395,360
RFTI Issuer Ltd.
2015-FL1, 3.23% (1 Month USD LIBOR + 1.75%) due 08/15/303,4		1,367,809		1,369,997
Symphony CLO XII Ltd.
2017-12A, 2.86% (3 Month USD LIBOR + 1.50%) due 10/15/253,4		1,250,000		1,250,805
Highbridge Loan Management Ltd.
2014-2014, 3.43% (3 Month USD LIBOR + 2.05%) due 07/28/253,4		1,250,000		1,250,000
Cereberus ICQ Levered LLC
2015-1A, 3.41% (3 Month USD LIBOR + 2.05%) due 11/06/253,4		1,038,688		1,038,955
Venture VII CDO Ltd.
2006-7A, 1.59% (3 Month USD LIBOR +0.23%) due 01/20/223,4		1,025,582		1,021,725
Cent CLO
2014-16A, 3.63% (3 Month USD LIBOR + 2.25%) due 08/01/243,4		500,000		500,829
2014-16A, 4.58% (3 Month USD LIBOR + 3.20%) due 08/01/243,4		500,000		500,271
Resource Capital Corp.
2015-CRE3, 4.63% (1 Month USD LIBOR + 3.15%) due 03/15/323,4		1,000,000		1,000,234
OHA Credit Partners IX Ltd.
2013-9A, due 10/20/254,5		1,000,000		883,095
Treman Park CLO Ltd.
2015-1A, due 04/20/274,5		1,000,000		856,630
Rockwall CDO II Ltd.
2007-1A, 1.93% (3 Month USD LIBOR +0.55%) due 08/01/243,4		569,316		568,929
LMREC, Inc.
2016-CRE2, 2.99% (1 Month USD LIBOR + 1.70%) due 11/24/313,4		534,000		539,340
Halcyon Loan Advisors Funding Ltd.
2012-1A, 4.42% (3 Month USD LIBOR + 3.00%) due 08/15/233,4		500,000		502,121
NZCG Funding Ltd.
2015-2A, 3.72% (3 Month USD LIBOR + 2.35%) due 04/27/273,4		500,000		501,848
NewStar Arlington Senior Loan Program LLC
2014-1A, 4.67% (3 Month USD LIBOR + 3.30%) due 07/25/253,4		250,000		247,871
2014-1A, 5.62% (3 Month USD LIBOR + 4.25%) due 07/25/253,4		250,000		240,847
Copper River CLO Ltd.
2007-1A, due 01/20/215,6		500,000		55,352
Keuka Park CLO Ltd.
2013-1A, due 10/21/244,5		491,478		45,395

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.0% (continued)
Collateralized Loan Obligations - 28.1% (continued)
Babson CLO Ltd.
2012-2A, due 05/15/234,5		750,000	$	9,083
Total Collateralized Loan Obligations				736,881,320
Transport-Aircraft - 2.1%
KDAC Aviation Finance Ltd.
2017-1A, 4.21% due 12/15/424		12,500,000		12,534,587
Apollo Aviation Securitization Equity Trust
2016-2, 4.21% due 11/15/41		5,957,820		5,945,189
2016-1A, 4.88% due 03/17/364		4,372,500		4,452,340
2014-1, 5.13% (WAC) due 12/15/293		813,101		810,975
2014-1, 7.38% (WAC) due 12/15/293		328,761		328,761
Castlelake Aircraft Securitization Trust
2017-1, 3.97% due 07/15/42		5,575,628		5,561,689
2015-1A, 4.70% due 12/15/404		3,936,212		3,955,920
AASET Trust
2017-1A, 3.97% due 05/16/424		7,636,000		7,662,768
Raspro Trust
2005-1A, 1.99% (3 Month USD LIBOR +0.63%) due 03/23/243,4		4,727,440		4,514,705
Falcon Aerospace Ltd.
2017-1, 4.58% due 02/15/424		3,541,500		3,581,809
AIM Aviation Finance Ltd.
2015-1A, 4.21% due 02/15/404		1,481,855		1,481,367
ECAF I Ltd.
2015-1A, 3.47% due 06/15/404		1,213,169		1,198,136
Diamond Head Aviation Ltd.
2015-1, 3.81% due 07/14/284		1,135,296		1,133,091
Atlas Ltd.
2014-1 A, 4.87% due 12/15/39		797,037		798,472
AABS Ltd.
2013-1 A, 4.87% due 01/10/38		487,619		492,434
Rise Ltd.
2014-1A, 4.74% due 02/12/39		301,688		305,082
Total Transport-Aircraft				54,757,325
Whole Business - 1.5%
Domino's Pizza Master Issuer LLC
2017-1A, 3.08% due 07/25/474		6,932,625		6,856,505
2017-1A, 2.62% (3 Month USD LIBOR + 1.25%) due 07/25/473,4		5,236,875		5,246,668
Taco Bell Funding LLC
2016-1A, 4.38% due 05/25/464		3,653,750		3,769,282
2016-1A, 4.97% due 05/25/464		3,456,250		3,631,516
Jimmy Johns Funding LLC
2017-1A, 3.61% due 07/30/474		6,184,500		6,208,310
DB Master Finance LLC
2015-1A, 3.98% due 02/20/454		3,802,475		3,881,224
Miramax LLC
2014-1A, 3.34% due 07/20/264		2,577,568		2,579,674
Wendys Funding LLC
2015-1A, 3.37% due 06/15/454		1,722,355		1,726,971
2015-1A, 4.08% due 06/15/454		762,450		780,467
Sonic Capital LLC
2016-1A, 4.47% due 05/20/464		1,988,333		2,016,548
Drug Royalty III Limited Partnership
2016-1A, 3.98% due 04/15/274		1,363,113		1,360,926
Drug Royalty II Limited Partnership 2
2014-1, 3.48% due 07/15/234		578,957		577,594
Total Whole Business				38,635,685
Transport-Container - 1.2%
Textainer Marine Containers Ltd.
2017-2A, 3.52% due 06/20/424		13,551,284		13,557,080
Global SC Finance II SRL
2013-1A, 2.98% due 04/17/284		8,413,333		8,327,808
2013-2A, 3.67% due 11/17/284		1,719,850		1,721,943
Textainer Marine Containers V Ltd.
2017-1A, 3.72% due 05/20/424		3,661,125		3,682,868

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.0% (continued)
Transport-Container - 1.2% (continued)
CLI Funding V LLC
2013-1A, 2.83% due 03/18/284		2,799,500	$	2,759,695
Cronos Containers Program Ltd.
2013-1A, 3.08% due 04/18/284		2,357,333		2,349,210
Total Transport-Container				32,398,604
Net Lease - 1.1%
Capital Automotive LLC
2017-1A, 3.87% due 04/15/474		13,310,667		13,496,874
Store Master Funding I LLC
2015-1A, 4.17% due 04/20/454		10,557,333		10,788,275
2015-1A, 3.75% due 04/20/454		1,776,000		1,789,251
Store Master Funding LLC
2013-1A, 4.16% due 03/20/434		2,299,325		2,306,945
Capital Automotive REIT
2014-1A, 3.66% due 10/15/444		1,000,000		1,002,423
Total Net Lease				29,383,768
Collateralized Debt Obligations - 0.7%
Anchorage Credit Funding Ltd.
2016-4A, 3.50% due 02/15/354		11,650,000		11,547,121
2016-3A, 3.85% due 10/28/334		1,500,000		1,492,120
RB Commercial Trust
2012-RS1, 5.35% due 01/26/224		3,335,032		3,394,846
Putnam Structured Product Funding Ltd.
2003-1A, 2.48% (1 Month USD LIBOR + 1.00%) due 10/15/383,4		1,779,867		1,697,224
H2 Asset Funding Ltd.
, 3.39% due 03/19/37		1,000,000		1,001,772
Total Collateralized Debt Obligations				19,133,083
Automotive - 0.7%
Hertz Vehicle Financing II, LP
2015-1A, 2.73% due 03/25/214		9,700,000		9,728,369
2017-1A, 2.96% due 10/25/214		1,000,000		998,151
Hertz Vehicle Financing LLC
2016-4A, 2.65% due 07/25/224		4,500,000		4,417,671
2016-2A, 2.95% due 03/25/224		2,000,000		1,993,941
Total Automotive				17,138,132
Single Family Residence - 0.5%
Colony American Finance 2016-1 Ltd.
2016-1, 2.54% due 06/15/484		5,605,986		5,556,292
Progress Residential 2017
2017-SFR2, 2.90% due 12/17/344		5,000,000		4,970,257
CoreVest American Finance 2017-1 Trust
2017-1, 2.97% due 10/15/494		1,995,388		1,990,960
Total Single Family Residence				12,517,509
Transport-Rail - 0.1%
TRIP Rail Master Funding LLC
2017-1A, 2.71% due 08/15/474		1,890,506		1,883,115
Insurance - 0.0%
Chesterfield Financial Holdings LLC
2014-1A, 4.50% due 12/15/344		544,500		544,397
Total Asset-Backed Securities
(Cost $942,850,098)				943,272,938

COLLATERALIZED MORTGAGE OBLIGATIONS†† - 19.5%
Residential Mortgage Backed Securities - 10.3%
Soundview Home Loan Trust
2006-OPT5, 1.69% (1 Month USD LIBOR +0.14%) due 07/25/363	27,901,124	27,188,064
2005-OPT3, 2.02% (1 Month USD LIBOR +0.47%) due 11/25/353	4,000,000	3,934,632
2003-1, 4.93% (1 Month USD LIBOR + 3.38%) due 08/25/313	105,052	104,517
Towd Point Mortgage Trust
2017-5, 2.15% (1 Month USD LIBOR +0.60%) due 02/25/573,4	10,985,419	10,998,831
2017-6, 2.75% (WAC) due 10/25/573,4	5,924,679	5,904,027
2017-1, 2.75% (WAC) due 10/25/563,4	5,757,419	5,750,030
2016-1, 2.75% (WAC) due 02/25/553,4	1,706,912	1,707,321
CIT Mortgage Loan Trust
2007-1, 2.90% (1 Month USD LIBOR + 1.35%) due 10/25/373,4	16,313,323	16,393,969
2007-1, 3.00% (1 Month USD LIBOR + 1.45%) due 10/25/373,4	1,164,650	1,171,786

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 19.5% (continued)
Residential Mortgage Backed Securities - 10.3% (continued)
Structured Asset Securities Corporation Mortgage Loan Trust
2008-BC4, 2.18% (1 Month USD LIBOR +0.63%) due 11/25/373		14,600,217	$	14,545,602
2006-BC4, 1.72% (1 Month USD LIBOR +0.17%) due 12/25/363		2,338,051		2,260,008
2007-BC1, 1.68% (1 Month USD LIBOR +0.13%) due 02/25/373		453,281		447,850
JP Morgan Mortgage Acquisition Trust
2006-HE2, 1.69% (1 Month USD LIBOR +0.14%) due 07/25/363		13,311,389		13,201,050
Fannie Mae Connecticut Avenue Securities
2016-C01, 3.50% (1 Month USD LIBOR + 1.95%) due 08/25/283		6,779,790		6,832,504
2016-C02, 3.70% (1 Month USD LIBOR + 2.15%) due 09/25/283		5,209,825		5,261,147
FirstKey Master Funding
2017-R1, 1.59% (1 Month USD LIBOR +0.22%) due 11/03/41†††,3,4		10,822,535		10,682,468
Bear Stearns Asset Backed Securities I Trust
2006-HE9, 1.69% (1 Month USD LIBOR +0.14%) due 11/25/363		5,313,199		5,188,207
2006-HE3, 1.91% (1 Month USD LIBOR +0.36%) due 04/25/363		4,000,000		3,963,699
Freddie Mac Structured Agency Credit Risk Debt Notes
2015-DNA1, 3.40% (1 Month USD LIBOR + 1.85%) due 10/25/273		5,000,000		5,122,638
2014-DN1, 3.75% (1 Month USD LIBOR + 2.20%) due 02/25/243		2,751,743		2,834,920
2015-DNA1, 2.45% (1 Month USD LIBOR +0.90%) due 10/25/273		805,879		806,783
Deephaven Residential Mortgage Trust 2017-3
2017-3A, 2.58% (WAC) due 10/25/473,4		7,971,552		7,971,056
Countrywide Asset-Backed Certificates
2006-6, 1.72% (1 Month USD LIBOR +0.17%) due 09/25/363		5,715,670		5,376,182
2006-5, 1.84% (1 Month USD LIBOR +0.29%) due 08/25/363		2,558,752		2,510,183
Bayview Opportunity Master Fund IVb Trust
2017-RPL1, 3.10% due 07/28/324		3,256,837		3,261,462
2017-RN1, 3.60% (WAC) due 02/28/323,4		2,481,346		2,481,402
2017-NPL1, 3.60% due 01/28/324		1,887,606		1,889,878
First NLC Trust
2005-4, 1.94% (1 Month USD LIBOR +0.39%) due 02/25/363		7,963,471		7,548,664
Nationstar Home Equity Loan Trust
2007-B, 1.54% (1 Month USD LIBOR +0.22%) due 04/25/373		7,581,202		7,506,398
Park Place Securities Incorporated Asset Backed Pass Through Certificates Series
2005-WHQ3, 2.50% (1 Month USD LIBOR +0.95%) due 06/25/353		7,025,000		7,031,108
CSMC Series
2015-12R, 1.83% (1 Month USD LIBOR +0.50%) due 11/30/373,4		5,850,141		5,832,847
2014-2R, 1.53% (1 Month USD LIBOR +0.20%) due 02/27/463,4		327,983		308,991
CWABS Incorporated Asset-Backed Certificates Trust
2004-4, 2.27% (1 Month USD LIBOR +0.72%) due 07/25/343		5,577,253		5,606,135
Credit-Based Asset Servicing & Securitization LLC
2006-CB2, 1.74% (1 Month USD LIBOR +0.19%) due 12/25/363		5,199,220		5,184,843
GSMSC Resecuritization Trust
2015-5R, 1.46% (1 Month USD LIBOR +0.14%) due 02/26/373,4		2,820,516		2,671,823
2015-7R, 1.51% (1 Month USD LIBOR +0.15%) due 09/26/373,4		2,565,324		2,444,749
CIM Trust
2017-2, 3.36% (1 Month USD LIBOR + 2.00%) due 12/25/573,4		4,353,738		4,399,016

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 19.5% (continued)
Residential Mortgage Backed Securities - 10.3% (continued)
GSAMP Trust
2005-HE6, 1.99% (1 Month USD LIBOR +0.44%) due 11/25/353		337,311	$	338,283
2002-HE2, 2.54% (1 Month USD LIBOR + 1.04%) due 10/20/323,4		4,351,120		4,376,676
LSTAR Securities Investment Limited
2017-6, 3.32% (1 Month USD LIBOR + 1.75%) due 09/01/223,4		4,334,922		4,337,631
Banc of America Funding Trust
2015-R4, 1.50% (1 Month USD LIBOR +0.17%) due 01/27/353,4		4,020,873		3,813,276
Ellington Loan Acquisition Trust
2007-2, 2.50% (1 Month USD LIBOR +0.95%) due 05/25/373,4		3,645,546		3,651,527
Stanwich Mortgage Loan Co.
2016-NPA1, 3.84% (WAC) due 10/16/463,4		3,622,226		3,598,635
Popular ABS Mortgage Pass-Through Trust
2005-2, 1.73% (1 Month USD LIBOR +0.18%) due 04/25/353		3,290,524		3,283,056
New Residential Mortgage Loan Trust
2017-5A, 3.05% (1 Month USD LIBOR + 1.50%) due 06/25/573,4		3,120,970		3,197,240
Stanwich Mortgage Loan Company LLC
2017-NPA1, 3.60% due 03/16/224		2,851,265		2,864,202
GCAT, LLC
2017-1, 3.38% due 03/25/474		2,362,510		2,361,064
ACE Securities Corporation Home Equity Loan Trust Series
2005-HE2, 2.57% (1 Month USD LIBOR + 1.02%) due 04/25/353		2,000,000		2,011,957
VOLT LIV LLC
2017-NPL1, 3.50% due 02/25/474		1,940,501		1,943,303
Morgan Stanley Capital I Incorporated Trust
2006-HE1, 1.84% (1 Month USD LIBOR +0.29%) due 01/25/363		1,947,760		1,926,707
First Franklin Mortgage Loan Trust
2004-FF10, 2.83% (1 Month USD LIBOR + 1.28%) due 07/25/343		1,683,759		1,707,163
GE-WMC Asset-Backed Pass-Through Certificates Series
2005-2, 1.80% (1 Month USD LIBOR +0.25%) due 12/25/353		1,623,123		1,630,386
Deutsche Alt-A Securities Mortgage Loan Trust Series
2006-AF1, 1.85% (1 Month USD LIBOR +0.30%) due 04/25/363		1,776,707		1,621,045
Morgan Stanley ABS Capital I Incorporated Trust
2006-NC1, 1.93% (1 Month USD LIBOR +0.38%) due 12/25/353		1,500,000		1,461,553
Bayview Opportunity Master Fund IIIb Trust
2017-RN3, 3.23% due 05/28/324		1,367,720		1,365,226
Nomura Resecuritization Trust
2015-4R, 2.39% (1 Month USD LIBOR +0.43%) due 03/26/363,4		1,403,408		1,348,954
VOLT XL LLC
2015-NP14, 4.38% due 11/27/454		1,260,494		1,263,316
Structured Asset Investment Loan Trust
2005-2, 2.29% (1 Month USD LIBOR +0.74%) due 03/25/353		834,689		835,971
2005-1, 2.27% (1 Month USD LIBOR +0.72%) due 02/25/353,4		387,413		386,556
Encore Credit Receivables Trust
2005-4, 1.99% (1 Month USD LIBOR +0.44%) due 01/25/363		1,077,390		1,071,786
NRPL Trust
2015-1A, 3.88% due 11/01/544		1,051,234		1,049,971
UCFC Manufactured Housing Contract
1997-2, 7.38% due 10/15/28		452,272		479,320
Nationstar HECM Loan Trust
2016-3A, 2.01% due 08/25/264		420,538		420,664
BCAP LLC
2014-RR3, 1.40% (WAC) due 10/26/363,4		331,006		327,579

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 19.5% (continued)
Residential Mortgage Backed Securities - 10.3% (continued)
First Frankin Mortgage Loan Trust
2006-FF4, 1.74% (1 Month USD LIBOR +0.19%) due 03/25/363		318,617	$	318,239
Accredited Mortgage Loan Trust
2007-1, 1.68% (1 Month USD LIBOR +0.13%) due 02/25/373		149,398		148,636
Morgan Stanley Re-REMIC Trust
2010-R5, 2.67% due 06/26/364		153,208		129,409
GreenPoint Mortgage Funding Trust
2005-HE4, 2.03% (1 Month USD LIBOR +0.47%) due 07/25/303		83,772		83,614
Total Residential Mortgage Backed Securities				269,677,735
Commercial Mortgage Backed Securities - 5.2%
Wells Fargo Commercial Mortgage Trust
2017-SMP, 2.23% (1 Month USD LIBOR +0.75%) due 12/15/223,4		9,000,000		9,000,000
2016-C37, 1.03% (WAC) due 12/15/493		38,429,281		2,128,125
2017-C38, 1.09% (WAC) due 07/15/503		25,925,923		1,989,312
2016-C32, 1.35% (WAC) due 01/15/593		23,000,776		1,784,814
2015-LC22, 0.89% (WAC) due 09/15/583		24,389,694		1,236,499
2017-C42, 0.90% (WAC) due 12/15/503		15,000,000		1,080,227
2017-RB1, 1.29% (WAC) due 03/15/503		9,975,199		924,927
2016-NXS5, 1.55% (WAC) due 01/15/593		6,890,319		564,082
BHMS Mortgage Trust
2014-ATLS, 4.24% due 07/05/334		15,000,000		15,146,594
2014-ATLS, 2.86% (1 Month USD LIBOR + 1.50%) due 07/05/333,4		1,300,000		1,306,039
Hospitality Mortgage Trust
2017-HIT, 2.09% (1 Month USD LIBOR +0.85%) due 05/08/303,4		15,500,000		15,519,364
Chicago Skyscraper Trust
2017-SKY, 2.28% (1 Month USD LIBOR +0.80%) due 02/01/193,4		9,000,000		9,014,378
Americold LLC Trust
2010-ARTA, 7.44% due 01/14/294		3,500,000		3,854,362
2010-ARTA, 6.81% due 01/14/294		2,605,000		2,844,854
GAHR Commercial Mortgage Trust
2015-NRF, 3.38% (WAC) due 12/15/343,4		6,353,165		6,327,550
2015-NRF, 2.55% (1 Month USD LIBOR + 1.30%) due 12/15/343,4		286,710		286,799
JP Morgan Chase Commercial Mortgage Securities Trust
2016-WIKI, 4.01% (WAC) due 10/05/313,4		3,000,000		2,957,786
2014-CBM, 3.43% (1 Month USD LIBOR + 1.95%) due 10/15/293,4		1,100,000		1,100,001
2014-FL5, 3.58% (1 Month USD LIBOR + 2.10%) due 07/15/313,4		1,000,000		993,207
GS Mortgage Securities Corporation Trust
2017-STAY, 2.33% (1 Month USD LIBOR +0.85%) due 07/15/323,4		2,800,000		2,784,967
2017-STAY, 2.58% (1 Month USD LIBOR + 1.10%) due 07/15/323,4		2,300,000		2,258,330
JPMDB Commercial Mortgage Securities Trust
2017-C5, 1.03% (WAC) due 03/15/503		57,795,294		4,052,375
2016-C2, 1.70% (WAC) due 06/15/493		8,874,671		814,572
Banc of America Commercial Mortgage Trust
2017-BNK3, 1.14% (WAC) due 02/15/503		33,731,306		2,594,433
2016-UB10, 2.00% (WAC) due 07/15/493		19,264,411		2,079,258
DBJPM Mortgage Trust
2017-C6, 1.04% (WAC) due 06/10/503		62,995,977		4,467,706
BANK
2017-BNK7, 0.83% (WAC) due 09/15/603		35,143,785		2,045,818
2017-BNK4, 1.46% (WAC) due 05/15/503		14,326,056		1,367,484
2017-BNK6, 0.88% (WAC) due 07/15/603		15,559,376		953,144
CGGS Commercial Mortgage Trust
2016-RNDA, 4.39% due 02/10/334		4,339,015		4,337,419

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 19.5% (continued)
Commercial Mortgage Backed Securities - 5.2% (continued)
Morgan Stanley Capital I Trust
2017-H1, 1.46% (WAC) due 06/15/503		30,944,201	$	2,930,295
2015-XLF1, 3.68% (1 Month USD LIBOR + 2.20%) due 08/13/193,4		1,135,000		1,139,710
UBS Commercial Mortgage Trust
2017-C2, 1.16% (WAC) due 08/15/503		33,120,677		2,683,275
2017-C5, 1.04% (WAC) due 11/15/503		14,092,369		1,018,451
Morgan Stanley Bank of America Merrill Lynch Trust
2015-C27, 1.02% (WAC) due 12/15/473		36,712,233		2,142,963
2017-C34, 0.83% (WAC) due 11/15/523		24,824,470		1,526,045
JPMCC Commercial Mortgage Securities Trust
2017-JP5, 1.11% (WAC) due 03/15/503		48,173,238		3,335,534
Citigroup Commercial Mortgage Trust
2017-P7, 1.14% (WAC) due 04/14/503		23,252,658		1,855,071
2016-C2, 1.79% (WAC) due 08/10/263		6,745,083		794,092
2016-GC37, 1.80% (WAC) due 04/10/493		3,811,317		430,666
VSD
2017-PLT1 A, 3.60% due 12/25/43		2,912,693		2,911,521
CD Commercial Mortgage Trust
2017-CD4, 1.33% (WAC) due 05/10/503		17,250,327		1,532,347
CGMS Commercial Mortgage Trust
2017-B1, 0.86% (WAC) due 08/15/503		22,468,086		1,374,022
JPMBB Commercial Mortgage Securities Trust
2013-C17, 0.86% (WAC) due 01/15/473		31,310,804		1,166,243
CSAIL Commercial Mortgage Trust
2016-C6, 1.81% (WAC) due 01/15/493		9,937,298		1,038,247
CD 2017-CD6 Mortgage Trust
2017-CD6, 0.99% (WAC) due 11/13/503		14,989,706		1,001,476
GS Mortgage Securities Trust
2017-GS6, 1.05% (WAC) due 05/10/503		11,584,864		933,852
Americold LLC
2010-ARTA, 4.95% due 01/14/294		840,000		890,067
CD Mortgage Trust
2016-CD1, 1.44% (WAC) due 08/10/493		7,033,138		643,937
LSTAR Commercial Mortgage Trust
2014-2, 4.21% (WAC) due 01/20/413,4		500,000		498,814
GE Business Loan Trust
2007-1A, 1.65% (1 Month USD LIBOR +0.17%) due 04/16/353,4		328,569		319,352
Total Commercial Mortgage Backed Securities				135,980,406
Government Agency - 4.0%
Fannie Mae
3.11% due 01/01/28		10,500,000		10,709,578
3.08% due 11/01/27		5,000,000		5,080,178
2.99% due 02/01/30		4,000,000		4,003,807
3.14% due 01/01/30		3,500,000		3,546,917
3.13% due 01/01/30		3,050,000		3,086,134
3.23% due 01/01/30		3,000,000		3,065,002
3.12% due 01/01/30†††		3,000,000		3,034,583
3.01% due 12/01/27		3,000,000		3,028,930
3.21% due 08/01/27		2,200,000		2,239,748
3.17% due 01/01/30		1,700,000		1,731,238
3.22% due 01/01/30		1,300,000		1,330,202
Freddie Mac Multifamily Structured Pass Through Certificates
2017-K070, 3.30% (WAC) due 11/25/273		20,000,000		20,687,898
2017-KGX1, 3.00% due 10/25/27		12,500,000		12,503,467
2013-K035, 0.41% (WAC) due 08/25/233,7		109,691,944		2,129,428
Seasoned Credit Risk Transfer Trust Series
2017-4, 2.25% due 06/25/57		20,450,000		20,375,235
2017-4, 3.50% due 06/25/57		9,950,000		10,168,044
Total Government Agency				106,720,389
Total Collateralized Mortgage Obligations
(Cost $507,682,540)				512,378,530

FOREIGN GOVERNMENT DEBT†† - 18.6%
Kingdom of Spain
due 01/19/1813	EUR	31,200,000	37,442,957
due 03/09/1813	EUR	29,537,000	35,470,588
Total Kingdom of Spain			72,913,545

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

		Face Amount~	Value
FOREIGN GOVERNMENT DEBT†† - 18.6% (continued)
Republic of France
due 01/17/1813	EUR	58,610,000	$	70,339,243
due 01/31/1813	EUR	495,000		594,240
due 01/10/1813	EUR	495,000		593,293
Total Republic of France				71,526,776
Government of United Kingdom
due 01/02/1813	GBP	27,700,000		37,396,552
due 01/08/1813	GBP	11,470,000		15,484,616
Total Government of United Kingdom				52,881,168
Republic of Portugal
due 01/19/1813	EUR	43,008,000		51,607,794
Kingdom of Sweden
due 01/17/1813	SEK	403,500,000		49,206,305
Republic of Hungary
due 02/28/1813	HUF	9,495,170,000		36,659,004
2.50% due 06/22/18	HUF	2,925,000,000		11,426,688
due 02/07/1813	HUF	319,900,000		1,235,120
due 05/23/1813	HUF	250,000,000		964,990
Total Republic of Hungary				49,050,682
Republic of Italy
due 01/31/1813	EUR	39,290,000		47,154,741
Government of Japan
due 01/22/1813	JPY	3,828,000,000		33,973,181
due 02/13/1813	JPY	280,000,000		2,485,213
Total Government of Japan				36,458,394
Denmark Treasury Bill
due 03/01/1813	DKK	97,600,000		15,748,411
Czech Republic Government Bond
0.85% due 03/17/18	CSK	331,820,000		15,612,028
Kingdom of Hungary
due 02/21/1813	HUF	2,969,000,000		11,463,144
4.00% due 04/25/18	HUF	628,230,000		2,456,013
Total Kingdom of Hungary				13,919,157
State of Israel
due 01/31/1813	ILS	21,340,000		6,377,285
Republic of Italy
due 01/12/1813	EUR	2,578,000		3,093,353
Total Foreign Government Debt
(Cost $478,357,882)				486,784,759

CORPORATE BONDS†† - 16.6%
Financial - 11.9%
Station Place Securitization Trust
2.30% (1 Month USD LIBOR +0.75%) due 08/24/183,4	21,900,000	21,900,000
2.19% (1 Month USD LIBOR +0.90%) due 07/24/183,4	19,600,000	19,600,000
2.29% (1 Month USD LIBOR + 1.00%) due 08/24/183,4	6,550,000	6,550,000
2.45% (1 Month USD LIBOR +0.90%) due 02/25/493,4	6,366,667	6,369,036
2.80% (1 Month USD LIBOR + 1.25%) due 02/25/493,4	3,333,333	3,334,572
2.68% (1 Month USD LIBOR + 1.13%) due 02/25/493,4	1,000,000	1,000,372
Capital One Financial Corp.
2.17% (3 Month USD LIBOR +0.76%) due 05/12/203	22,900,000	23,005,165
1.83% (3 Month USD LIBOR +0.45%) due 10/30/203	1,200,000	1,199,622
Station Place Securitization Trust Series
2.54% (1 Month USD LIBOR + 1.25%) due 11/24/183,4	23,000,000	23,000,000
Sumitomo Mitsui Trust Bank Ltd.
2.05% (3 Month USD LIBOR +0.44%) due 09/19/193,4	14,350,000	14,345,921
2.26% (3 Month USD LIBOR +0.91%) due 10/18/193,4	7,600,000	7,664,453
Mitsubishi UFJ Financial Group, Inc.
2.16% (3 Month USD LIBOR +0.79%) due 07/25/223	14,650,000	14,704,424
2.62% (3 Month USD LIBOR + 1.06%) due 09/13/213	5,990,000	6,074,972
3.36% (3 Month USD LIBOR + 1.88%) due 03/01/213	1,100,000	1,144,331
Citigroup, Inc.
6.25% 8,9	13,057,000	14,401,871
5.95% 8,9	6,250,000	6,656,250
Citizens Bank North America/Providence RI
2.27% (3 Month USD LIBOR +0.81%) due 05/26/223	12,200,000	12,254,338
2.03% (3 Month USD LIBOR +0.57%) due 05/26/203	8,050,000	8,072,227
Goldman Sachs Group, Inc.
2.40% (3 Month USD LIBOR +0.73%) due 12/27/203	15,700,000	15,757,773
2.79% (3 Month USD LIBOR + 1.20%) due 09/15/203	1,000,000	1,018,936
Mizuho Financial Group, Inc.
2.42% (3 Month USD LIBOR +0.88%) due 09/11/223	16,450,000	16,561,202
Morgan Stanley
2.21% (3 Month USD LIBOR +0.80%) due 02/14/203	13,650,000	13,704,406
2.58% (3 Month USD LIBOR +0.98%) due 06/16/203	1,650,000	1,669,901

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
CORPORATE BONDS†† - 16.6% (continued)
Financial - 11.9% (continued)
Credit Agricole S.A.
2.51% (3 Month USD LIBOR +0.97%) due 06/10/203,4		11,550,000	$	11,714,264
Bank of America Corp.
6.30% 8,9		5,151,000		5,820,630
1.97% (3 Month USD LIBOR +0.65%) due 04/15/263		4,200,000		4,219,495
JPMorgan Chase & Co.
2.16% (3 Month USD LIBOR +0.68%) due 06/01/213		8,100,000		8,145,549
6.10% 8,9		959,000		1,053,749
6.00% 8,9		608,222		653,869
Sumitomo Mitsui Financial Group, Inc.
2.33% (3 Month USD LIBOR +0.97%) due 01/11/223		5,000,000		5,050,853
3.22% (3 Month USD LIBOR + 1.68%) due 03/09/213		1,000,000		1,034,140
2.50% (3 Month USD LIBOR + 1.14%) due 10/19/213		702,000		714,017
UBS Group Funding Switzerland AG
3.14% (3 Month USD LIBOR + 1.78%) due 04/14/213,4		5,700,000		5,915,027
Swedbank AB
2.27% (3 Month USD LIBOR +0.70%) due 03/14/223,4		5,800,000		5,855,998
KeyCorp
5.00% 8,9		5,306,000		5,465,180
Credit Suisse Group AG
2.77% (3 Month USD LIBOR + 1.20%) due 12/14/233,4		5,250,000		5,299,743
Wells Fargo & Co.
5.90% 8,9		3,709,766		3,968,337
5.88% 8,9		1,050,000		1,162,927
Westpac Banking Corp.
2.21% (3 Month USD LIBOR +0.85%) due 01/11/223		5,000,000		5,065,736
American Equity Investment Life Holding Co.
5.00% due 06/15/27		500,000		518,098
Fidelity & Guaranty Life Holdings, Inc.
6.38% due 04/01/214		330,000		337,425
Lincoln Finance Ltd.
7.38% due 04/15/214		100,000		104,250
Total Financial				312,089,059
Consumer, Non-cyclical - 2.0%
Express Scripts Holding Co.
2.23% (3 Month USD LIBOR +0.75%) due 11/30/203		24,500,000		24,510,940
Kraft Heinz Foods Co.
1.98% (3 Month USD LIBOR +0.57%) due 02/10/213		16,200,000		16,240,701
Allergan Funding SCS
2.80% (3 Month USD LIBOR + 1.26%) due 03/12/203		11,300,000		11,463,591
Total Consumer, Non-cyclical				52,215,232
Communications - 1.6%
AT&T, Inc.
2.30% (3 Month USD LIBOR +0.89%) due 02/14/233		20,500,000		20,659,796
Discovery Communications LLC
2.34% (3 Month USD LIBOR +0.71%) due 09/20/193		11,000,000		11,060,842
Deutsche Telekom International Finance BV
1.93% (3 Month USD LIBOR +0.58%) due 01/17/203,4		9,400,000		9,424,257
Verizon Communications, Inc.
2.60% (3 Month USD LIBOR + 1.00%) due 03/16/223		2,300,000		2,345,280
Total Communications				43,490,175
Energy - 0.6%
Equities Corp.
2.10% (3 Month USD LIBOR +0.77%) due 10/01/203		11,450,000		11,474,274
Phillips 66
2.01% (3 Month USD LIBOR +0.65%) due 04/15/193		4,100,000		4,102,387
Schahin II Finance Co. SPV Ltd.
5.88% due 09/25/226,10		390,900		42,999
Total Energy				15,619,660
Industrial - 0.2%
Reynolds Group Issuer Incorporated / Reynolds Group Issuer LLC / Reynolds Group Issuer Luxemburg
4.86% (3 Month USD LIBOR + 3.50%) due 07/15/213,4		5,500,000		5,582,500
CNH Industrial Capital LLC
3.63% due 04/15/18		850,000		854,403
Total Industrial				6,436,903
Basic Materials - 0.2%
Yamana Gold, Inc.
4.63% due 12/15/27		3,000,000		3,015,639
4.95% due 07/15/24		1,375,000		1,438,435
Total Basic Materials				4,454,074
Diversified - 0.1%
HRG Group, Inc.
7.88% due 07/15/19		1,740,000		1,743,480
Consumer, Cyclical - 0.0%
Seminole Hard Rock Entertainment Inc. / Seminole Hard Rock International LLC
5.88% due 05/15/214		475,000		482,125
Total Corporate Bonds
(Cost $434,737,049)				436,530,708

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
SENIOR FLOATING RATE INTERESTS††,3 - 1.2%
Technology - 0.7%
Misys Ltd.
4.98% (3 Month USD LIBOR + 3.50%) due 06/13/24		7,930,125	$	7,949,395
MA Financeco LLC
4.07% (1 Month USD LIBOR + 2.50%) due 11/19/21		5,000,000		4,998,950
Epicor Software
5.32% (1 Month USD LIBOR + 3.75%) due 06/01/22		4,245,050		4,252,649
Internet Brands, Inc.
5.34% (3 Month USD LIBOR + 3.75%) due 09/13/24		1,095,628		1,098,093
Total Technology				18,299,087
Consumer, Non-cyclical - 0.2%
DJO Finance LLC
4.70% (1 Month USD LIBOR + 3.25%) due 06/08/20		1,994,894		1,965,330
Smart & Final Stores LLC
5.19% (3 Month USD LIBOR + 3.50%) due 11/15/22		1,770,796		1,725,782
Albertson's LLC
4.67% (3 Month USD LIBOR + 3.00%) due 12/21/22		1,234,445		1,208,349
Grocery Outlet, Inc.
5.19% (3 Month USD LIBOR + 3.50%) due 10/21/21		664,935		664,523
American Tire Distributors, Inc.
5.82% (1 Month USD LIBOR + 4.25%) due 09/01/21		1,751		1,762
Total Consumer, Non-cyclical				5,565,746
Communications - 0.2%
Cengage Learning Acquisitions, Inc.
5.71% (1 Month USD LIBOR + 4.25%) due 06/07/23		4,298,301		4,094,132
Neustar, Inc.
4.65% (3 Month USD LIBOR + 3.25%) due 01/08/20		658,558		667,890
Total Communications				4,762,022
Industrial - 0.1%
CHI Overhead Doors, Inc.
4.94% (3 Month USD LIBOR + 3.25%) due 07/29/22		991,950		991,335
Engility Corp.
4.32% (1 Month USD LIBOR + 2.75%) due 08/12/20		875,000		879,996
Filtration Group Corp.
4.38% (3 Month USD LIBOR + 3.00%) due 11/23/20		6,840		6,892
Total Industrial				1,878,223
Consumer, Cyclical - 0.0%
Advantage Sales & Marketing LLC
4.63% (3 Month USD LIBOR + 3.25%) due 07/23/21		1,077,031		1,048,425
PetSmart Inc
4.57% (1 Month USD LIBOR + 3.00%) due 03/11/22		785,894		626,507
Total Consumer, Cyclical				1,674,932
Financial - 0.0%
iStar, Inc.
4.45% (1 Month USD LIBOR + 3.00%) due 10/01/21		300,000		302,250
Total Senior Floating Rate Interests
(Cost $32,822,270)				32,482,260

COMMERCIAL PAPER†† - 1.3%
Hewlett-Packard Co.
1.69% due 01/16/1811	30,000,000	29,978,875
American Water Capital Corp.
1.90% due 01/10/1811	3,400,000	3,398,385
Total Commercial Paper
(Cost $33,377,260)		33,377,260

REPURCHASE AGREEMENT††,12 - 2.2%
BNP Paribas issued 12/20/17 at 2.00% due 02/05/18	57,455,300		57,455,300
Total Repurchase Agreement
(Cost $57,455,300)			57,455,300
Total Investments - 100.6%
(Cost $2,624,677,897)		$	2,639,730,975
Other Assets & Liabilities, net - (0.6)%			(15,187,292	)
Total Net Assets - 100.0%		$	2,624,543,683

CENTRALLY CLEARED INTEREST RATE SWAPS††

Counterparty

Exchange

Floating Rate Type

Floating Rate Index

Fixed Rate

Payment Frequency

Maturity Date

Notional Amount

Market Value

Value and Unrealized Loss

BOA Merrill Lynch

CME

Receive

3 Month USD-LIBOR

2.24

%

Quarterly

08/11/27

$

94,700,000

$

(88,580

)

$

(88,580

)

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS††
Counterparty	Contracts to Sell		Currency		Settlement Date	Settlement Value		Value at December 31, 2017		Net Unrealized Appreciation/Depreciation
Barclays		521,000,000		MXN	01/04/18	$	29,029,921	$	26,493,585	$	2,536,336
Bank of America		303,300,000		SEK	01/17/18		37,400,579		37,013,391		387,188
Citigroup		6,315,170,000		HUF	02/28/18		24,634,222		24,495,982		138,240
Morgan Stanley		280,000,000		JPY	02/13/18		2,512,405		2,490,053		22,352
Goldman Sachs		653,359,200		HUF	04/25/18		2,561,181		2,540,986		20,195
Bank of America		814,875,000		HUF	06/22/18		3,196,215		3,179,568		16,647
Goldman Sachs		2,183,250,000		HUF	06/22/18		8,525,323		8,518,843		6,480
Goldman Sachs		250,000,000		HUF	05/23/18		978,588		973,822		4,766
Morgan Stanley		495,000		EUR	01/10/18		585,590		594,181		(8,591	)
Goldman Sachs		495,000		EUR	01/31/18		585,887		595,081		(9,194	)
Goldman Sachs		2,578,000		EUR	01/12/18		3,059,809		3,094,990		(35,181	)
Bank of America		319,900,000		HUF	02/07/18		1,202,858		1,239,373		(36,515	)
Goldman Sachs		3,828,000,000		JPY	01/22/18		33,955,696		34,005,533		(49,837	)
Goldman Sachs		11,793,600		ILS	01/31/18		3,301,218		3,397,431		(96,213	)
Citigroup		10,400,000		ILS	01/31/18		2,894,739		2,995,971		(101,232	)
Morgan Stanley		17,230,000		EUR	01/17/18		20,551,255		20,692,744		(141,489	)
Citigroup		27,854,770		CZK	03/19/18		1,152,905		1,317,692		(164,787	)
Goldman Sachs		11,470,000		GBP	01/08/18		15,308,585		15,488,216		(179,631	)
Goldman Sachs		100,200,000		SEK	01/17/18		12,027,657		12,227,965		(200,308	)
Goldman Sachs		3,180,000,000		HUF	02/28/18		12,055,684		12,334,937		(279,253	)
Barclays		2,969,000,000		HUF	02/21/18		11,225,377		11,511,876		(286,499	)
Goldman Sachs		113,960,500		CZK	03/19/18		5,065,490		5,390,993		(325,503	)
Morgan Stanley		97,600,000		DKK	03/01/18		15,459,304		15,788,401		(329,097	)
Morgan Stanley		39,290,000		EUR	01/31/18		46,866,291		47,233,791		(367,500	)
Morgan Stanley		29,537,000		EUR	03/09/18		34,951,870		35,584,451		(632,581	)
Morgan Stanley		31,200,000		EUR	01/19/18		36,823,800		37,475,720		(651,920	)
Goldman Sachs		27,700,000		GBP	01/02/18		36,673,138		37,396,552		(723,414	)
Goldman Sachs		43,008,000		EUR	01/19/18		50,828,616		51,658,839		(830,223	)
Goldman Sachs		41,380,000		EUR	01/17/18		48,859,021		49,696,212		(837,191	)
Bank of America		192,825,200		CZK	03/19/18		7,941,859		9,121,750		(1,179,891	)
										$	(4,333,846	)

Counterparty	Contracts to Buy		Currency		Settlement Date	Settlement Value		Value at December 31, 2017		Net Unrealized Depreciation
Goldman Sachs		521,000,000		MXN	01/04/18	$	28,186,540	$	26,493,585		(1,692,955	)

~	The face amount is denominated in U.S. dollars unless otherwise indicated.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs, unless otherwise noted — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	Affiliated issuer.
2	Rate indicated is the 7 day yield as of December 31, 2017.
3	Variable rate security. Rate indicated is rate effective at December 31, 2017. In some instances, the underlying reference rate shown was below the minimum rate earned by the security or has been adjusted by a predetermined factor. The settlement status of a position may also impact the effective rate indicated. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
4	Security is a 144A or Section 4(a)(2) security. These securities have been determined to be liquid under guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) securities is $1,284,498,658 (cost $1,282,258,116), or 48.9% of total net assets.
5	Security has no stated coupon. However, it is expected to receive residual cash flow payments on defined deal dates.
6	Security is a 144A or Section 4(a)(2) security. These securities have been determined to be illiquid and restricted under guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) illiquid and restricted securities is $98,351 (cost $960,036), or 0.0% of total net assets — See Note 8.
7	Maturity date indicated is next interest reset date.
8	Perpetual maturity.
9	Security has a fixed rate coupon which will convert to a floating or variable rate coupon on a future date.
10	Security is in default of interest and/or principal obligations.
11	Rate indicated is the effective yield at the time of purchase.
12	Repurchase Agreement — See Note 4.
13	Zero coupon rate security.

REIT — Real Estate Investment Trust

CME — Chicago Mercantile Exchange

LIBOR — London Interbank Offered Rate

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

WAC — Weighted Average Coupon

CZK — Czech Koruna

DKK — Danish Krone

EUR — Euro

GBP — British Pound

HUF — Hungarian Forint

ILS — Israeli New Shekel

JPY — Japanese Yen

MXN — Mexican Peso  

See Sector Classification in Other Information section.

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Asset Backed Securities	$	—	$	943,272,938	$	—	$	—	$	943,272,938
Collateralized Mortgage Obligations		—		498,661,479		—		13,717,051		512,378,530
Commercial Paper		—		33,377,260		—		—		33,377,260
Corporate Bonds		—		436,530,708		—		—		436,530,708
Forward Foreign Currency Exchange Contracts		—		—		3,132,204		—		3,132,204
Foreign Government Debt		—		486,784,759		—		—		486,784,759
Money Market Fund		68,766,131		—		—		—		68,766,131
Mutual Funds		68,683,089		—		—		—		68,683,089
Repurchase Agreement		—		57,455,300		—		—		57,455,300
Senior Floating Rate Interests		—		32,482,260		—		—		32,482,260
Total Assets	$	137,449,220	$	2,488,564,704	$	3,132,204	$	13,717,051	$	2,642,863,179

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Forward Foreign Currency Exchange Contracts	$	—	$	—	$	9,159,005	$	—	$	9,159,005
Interest Rate Swaps		—		—		88,580		—		88,580
Total Liabilities	$	—	$	—	$	9,247,585	$	—	$	9,247,585

* Other financial instruments include forward foreign currency exchange contracts and swaps, which are reported as unrealized gain/loss at period end.

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were no transfers between levels.

Affiliated Transactions

Investments representing 5% or more of the outstanding voting shares of a portfolio company of a fund, or control of or by, or common control under the GI, result in that portfolio company being considered an affiliated company of such fund, as defined in the 1940 Act.

The Fund may invest in the Guggenheim Strategy Funds Trust consisting of Guggenheim Strategy Fund I, Guggenheim Strategy Fund II, Guggenheim Strategy Fund III, and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Cash Management Funds”), open-end management investment companies managed by the GI. The Cash Management Funds, which launched on March 11, 2014, are offered as cash management options only to mutual funds, trusts, and other accounts managed by the GI and/or its affiliates, and are not available to the public. The Cash Management Funds pay no investment management fees. The Cash Management Funds’ annual report on Form N-CSR dated September 30, 2017, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000089180417000715/gug72218.htm.

Limited Duration Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

Transactions during the period ended December 31, 2017, in which the portfolio company is an "affiliated person", were as follows:
Security Name	Value 09/30/17		Additions		Reductions			Realized Gain		Change in Unrealized			Value 12/31/17		Shares 12/31/17		Investment Income		Capital Gain Distributions
Guggenheim Floating Rate Strategies Fund - Institutional Class	$	27,278,433	$	5,915,127	$	–		$	–	$	(51,142	)	$	33,142,418		1,274,218	$	314,194	$	–
Guggenheim Strategy Fund I		12,599,724		89,214		(1,000,000	)		10,349		(33,149	)		11,666,138		465,528		84,874		4,412
Guggenheim Strategy Fund II		14,349,646		115,596		–			–		(28,739	)		14,436,503		577,229		107,957		7,679
Guggenheim Strategy Fund III		9,381,097		64,465		–			–		(7,532	)		9,438,030		377,219		62,290		2,296
	$	63,608,900	$	6,184,402	$	(1,000,000	)	$	10,349	$	(120,562	)	$	68,683,089			$	569,315	$	14,387

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 3.0%
Consumer, Non-cyclical - 0.9%
JM Smucker Co.		22,203	$	2,758,501
Conagra Brands, Inc.		71,634		2,698,453
US Foods Holding Corp.*		82,584		2,636,907
Eli Lilly & Co.		28,838		2,435,657
Gilead Sciences, Inc.		33,196		2,378,161
United Therapeutics Corp.*		15,731		2,327,401
Western Union Co.		120,867		2,297,682
Pfizer, Inc.		62,574		2,266,430
Mylan N.V.*		48,825		2,065,786
Cardinal Health, Inc.		33,633		2,060,694
McKesson Corp.		12,244		1,909,452
Johnson & Johnson		13,608		1,901,310
Zimmer Biomet Holdings, Inc.		14,792		1,784,951
Edgewell Personal Care Co.*		29,959		1,779,265
Kroger Co.		58,352		1,601,762
Performance Food Group Co.*		47,022		1,556,428
Tyson Foods, Inc. — Class A		16,550		1,341,709
Horizon Pharma plc*		87,975		1,284,435
WellCare Health Plans, Inc.*		6,271		1,261,161
Abbott Laboratories		20,948		1,195,502
Bioverativ, Inc.*		22,056		1,189,260
Merck & Company, Inc.		20,301		1,142,337
Travelport Worldwide Ltd.		87,127		1,138,750
Biogen, Inc.*		3,240		1,032,167
Darling Ingredients, Inc.*		56,481		1,024,001
Medtronic plc		11,226		906,499
Prestige Brands Holdings, Inc.*		19,953		886,113
SpartanNash Co.		33,006		880,600
CoreLogic, Inc.*		18,835		870,365
USANA Health Sciences, Inc.*		11,412		845,059
Humana, Inc.		3,289		815,902
Ingredion, Inc.		5,768		806,366
Cardtronics plc — Class A*		40,007		740,930
Sanderson Farms, Inc.		4,831		670,446
TreeHouse Foods, Inc.*		12,604		623,394
Sabre Corp.		30,205		619,202
AbbVie, Inc.		6,273		606,662
Dean Foods Co.		51,853		599,421
Boston Beer Company, Inc. — Class A*		3,081		588,779
Pilgrim's Pride Corp.*		18,906		587,220
Allergan plc		3,547		580,218
Spectrum Brands Holdings, Inc.		4,722		530,753
Baxter International, Inc.		8,168		527,980
Targus Group International Equity, Inc†††,1,2		12,773		24,648
Total Consumer, Non-cyclical				57,778,719
Industrial - 0.6%
Fluor Corp.		55,553		2,869,312
Owens Corning		30,431		2,797,826
Cummins, Inc.		15,316		2,705,418
Energizer Holdings, Inc.		49,570		2,378,368
Genesee & Wyoming, Inc. — Class A*		28,426		2,237,979
AGCO Corp.		28,080		2,005,754
Greenbrier Companies, Inc.		37,468		1,997,045
Tech Data Corp.*		20,092		1,968,413
Kirby Corp.*		27,195		1,816,626
Regal Beloit Corp.		22,761		1,743,493
Snap-on, Inc.		9,056		1,578,461
Norfolk Southern Corp.		10,529		1,525,652
Timken Co.		29,971		1,473,075
Benchmark Electronics, Inc.*		46,027		1,339,386
EMCOR Group, Inc.		14,793		1,209,328
EnerSys		17,305		1,204,947
Crane Co.		9,908		883,992
Rexnord Corp.*		27,623		718,750
Applied Industrial Technologies, Inc.		9,607		654,237
L3 Technologies, Inc.		3,258		644,595
Gibraltar Industries, Inc.*		18,887		623,271
Sanmina Corp.*		18,725		617,925
Ingersoll-Rand plc		6,026		537,459
Belden, Inc.		6,933		535,020
Vishay Intertechnology, Inc.		25,039		519,559
Louisiana-Pacific Corp.*		19,216		504,612
Owens-Illinois, Inc.*		21,874		484,947
Total Industrial				37,575,450
Technology - 0.4%
CA, Inc.		76,775		2,555,072
International Business Machines Corp.		14,859		2,279,668
HP, Inc.		94,642		1,988,428
NetApp, Inc.		35,082		1,940,736
DXC Technology Co.		16,036		1,521,816
Convergys Corp.		61,447		1,444,005
First Data Corp. — Class A*		82,322		1,375,600
j2 Global, Inc.		17,629		1,322,704
Western Digital Corp.		15,294		1,216,332
Xerox Corp.		41,118		1,198,590
CSRA, Inc.		35,743		1,069,431
NCR Corp.*		29,888		1,015,893
Micron Technology, Inc.*		22,668		932,108
CACI International, Inc. — Class A*		5,791		766,439
Dell Technologies Incorporated Class V — Class V*		8,479		689,173
Cirrus Logic, Inc.*		12,697		658,467
ON Semiconductor Corp.*		31,081		650,836
KLA-Tencor Corp.		5,385		565,802
Icad, Inc.*		79,789		274,474
Qlik Technologies, Inc.*,†††,1		177		198,288
Qlik Technologies, Inc.*,†††,1		43,738		21,457
Qlik Technologies, Inc.*,††		11,400		1
Total Technology				23,685,320
Financial - 0.3%
Principal Financial Group, Inc.		37,043		2,613,754
Aflac, Inc.		26,767		2,349,607
VEREIT, Inc. REIT		277,219		2,159,536
Prudential Financial, Inc.		16,800		1,931,664
Bank of New York Mellon Corp.		31,759		1,710,540
Mack-Cali Realty Corp. REIT		51,887		1,118,684
Interactive Brokers Group, Inc. — Class A		16,824		996,149
U.S. Bancorp		13,094		701,576
Summit Hotel Properties, Inc. REIT		43,698		665,521
Brixmor Property Group, Inc. REIT		33,893		632,443
LaSalle Hotel Properties REIT		22,415		629,189

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 3.0% (continued)
Financial - 0.3% (continued)
Capital One Financial Corp.		5,843	$	581,846
E*TRADE Financial Corp.*		11,605		575,260
JPMorgan Chase & Co.		5,167		552,559
Travelers Companies, Inc.		3,887		527,233
Blackhawk Network Holdings, Inc.*		14,593		520,240
Hartford Financial Services Group, Inc.		6,702		377,189
OneMain Holdings, Inc.*		13,915		361,651
Total Financial				19,004,641
Energy - 0.3%
SandRidge Energy, Inc.*		507,188		10,686,451
Valero Energy Corp.		29,060		2,670,905
Approach Resources, Inc.*		696,348		2,061,190
PBF Energy, Inc. — Class A		22,220		787,699
HollyFrontier Corp.		13,571		695,107
First Solar, Inc.*		8,347		563,589
Titan Energy LLC*		35,116		53,376
Total Energy				17,518,317
Consumer, Cyclical - 0.2%
CVS Health Corp.		34,709		2,516,403
PACCAR, Inc.		32,435		2,305,480
Tailored Brands, Inc.		92,085		2,010,216
Delta Air Lines, Inc.		33,417		1,871,352
Lions Gate Entertainment Corp. — Class A*		37,126		1,255,230
Walgreens Boots Alliance, Inc.		12,010		872,166
Ralph Lauren Corp. — Class A		7,235		750,197
Lear Corp.		3,646		644,102
WW Grainger, Inc.		2,671		631,024
Lowe's Companies, Inc.		6,461		600,485
American Airlines Group, Inc.		11,128		578,990
Tenneco, Inc.		9,181		537,456
Total Consumer, Cyclical				14,573,101
Communications - 0.2%
Verizon Communications, Inc.		57,569		3,047,127
Cisco Systems, Inc.		65,635		2,513,820
ATN International, Inc.		31,707		1,752,129
Omnicom Group, Inc.		17,755		1,293,097
InterDigital, Inc.		15,666		1,192,966
ARRIS International plc*		41,760		1,072,814
ORBCOMM, Inc.*		50,246		511,504
Viavi Solutions, Inc.*		56,594		494,632
Cengage Learning Acquisitions, Inc.††		21,660		157,035
Total Communications				12,035,124
Utilities - 0.1%
CenterPoint Energy, Inc.		87,803		2,490,093
National Fuel Gas Co.		44,282		2,431,525
Portland General Electric Co.		34,457		1,570,550
PNM Resources, Inc.		37,999		1,537,059
AES Corp.		139,724		1,513,211
Total Utilities				9,542,438
Basic Materials - 0.0%
Huntsman Corp.		17,011		566,296
Total Common Stocks
(Cost $177,883,189)				192,279,406

PREFERRED STOCKS†† - 0.3%
Industrial - 0.2%
Seaspan Corp. 6.38% due 04/30/19	543,050	13,874,927
Financial - 0.1%
Cent CLO 16, LP due 08/1/24*,3,4	7,000	3,781,433
BreitBurn Energy Partners 8.00%†††,1,10	389,684	38
Total Financial		3,781,471
Total Preferred Stocks
(Cost $20,044,270)		17,656,398

WARRANTS†† - 0.0%
Comstock Resources, Inc.
$0.01, 09/06/18*	15,538	131,296
Total Warrants
(Cost $70,124)		131,296

EXCHANGE-TRADED FUNDS† - 1.0%
Guggenheim Solar ETF2	700,700	17,608,591
iShares MSCI Chile ETF	306,440	15,983,911
iShares China Large-Capital ETF	336,596	15,540,637
iShares MSCI Brazil ETF	362,454	14,661,264
Total Exchange-Traded Funds
(Cost $60,461,722)		63,794,403

MUTUAL FUNDS† - 11.8%
Guggenheim Limited Duration Fund - Institutional Class2	12,066,106	298,998,102
Guggenheim Alpha Opportunity Fund - Institutional Class2	5,863,072	174,778,178
Guggenheim Strategy Fund II2	3,950,312	98,797,299
Guggenheim Strategy Fund I2	3,520,433	88,222,050
Guggenheim Strategy Fund III2	3,125,891	78,209,790
Guggenheim Risk Managed Real Estate Fund - Institutional Class2	520,003	15,454,488
Guggenheim Floating Rate Strategies Fund - Institutional Class2	501,374	13,040,727
Total Mutual Funds
(Cost $757,037,652)		767,500,634

MONEY MARKET FUNDS† - 1.9%
Federated U.S. Treasury Cash Reserve - Institutional Shares 1.05%5	118,062,053	118,062,053
Western Asset Institutional U.S. Treasury Reserves Institutional Shares 1.12%5	8,073,196	8,073,196
Total Money Market Funds
(Cost $126,135,249)		126,135,249

	Face Amount~
ASSET-BACKED SECURITIES†† - 30.7%
Collateralized Loan Obligations - 22.7%
Fortress Credit Opportunities IX CLO Ltd.
2017-9A, 2.97% (3 Month USD LIBOR + 1.55%) due 11/15/296,7		62,500,000	62,385,989

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 30.7% (continued)
Collateralized Loan Obligations - 22.7% (continued)
2017-9A, 3.37% (3 Month USD LIBOR + 1.95%) due 11/15/296,7		34,300,000	$	34,346,236
KVK CLO Ltd.
2017-2A, 3.85% (3 Month USD LIBOR + 2.55%) due 01/15/266,7		22,350,000		22,433,708
2017-2A, 2.48% (3 Month USD LIBOR + 1.18%) due 07/15/266,7		18,300,000		18,317,083
2017-1A, 3.92% (3 Month USD LIBOR + 2.60%) due 05/15/266,7		13,250,000		13,397,711
2014-2A, 6.05% (3 Month USD LIBOR + 4.75%) due 07/15/266,7		7,200,000		6,717,170
2013-1A, due 01/15/283,7		11,900,000		5,230,943
2014-3A, due 10/15/263,7		2,500,000		688,123
Shackleton 2015-VIII CLO Ltd.
2017-8A, 2.28% (3 Month USD LIBOR + 0.92%) due 10/20/276,7		62,000,000		62,028,089
Golub Capital Partners CLO Ltd.
2017-16A, 3.56% (3 Month USD LIBOR + 2.25%) due 07/25/296,7		24,050,000		23,979,960
2016-33A, 3.92% (3 Month USD LIBOR + 2.48%) due 11/21/286,7		17,500,000		17,543,986
2015-25A, 3.96% (3 Month USD LIBOR + 2.65%) due 08/05/276,7		6,000,000		5,976,057
2015-25A, 4.96% (3 Month USD LIBOR + 3.65%) due 08/05/276,7		4,000,000		3,918,932
Octagon Loan Funding Ltd.
due 11/18/263		52,700,000		45,383,430
OCP CLO 2015-8 Ltd.
2017-8A, 2.80% (3 Month USD LIBOR + 1.45%) due 04/17/276,7		27,500,000		27,510,275
2017-8A, 2.20% (3 Month USD LIBOR + 0.85%) due 04/17/276,7		6,000,000		6,003,244
Fortress Credit BSL II Ltd.
2017-2A, 2.51% (3 Month USD LIBOR + 1.15%) due 10/19/256,7		27,900,000		27,981,795
2017-2A, 3.86% (3 Month USD LIBOR + 2.50%) due 10/19/256,7		4,500,000		4,501,033
Tralee CLO III Ltd.
2017-3A, 2.81% (3 Month USD LIBOR + 1.45%) due 10/20/276		31,000,000		30,922,101
Marathon CLO V Ltd.
2017-5A, 2.31% (3 Month USD LIBOR + 0.87%) due 11/21/276,7		16,700,000		16,677,969
2017-5A, 2.89% (3 Month USD LIBOR + 1.45%) due 11/21/276,7		11,500,000		11,482,049
2013-5A, due 11/21/273,7		5,500,000		2,494,206
ABPCI Direct Lending Fund CLO II LLC
2017-1A, 3.25% (3 Month USD LIBOR + 1.78%) due 07/20/296,7		25,000,000		25,197,530
2017-1A, 3.19% (3 Month USD LIBOR + 2.35%) due 07/20/296,7		4,650,000		4,710,189
Woodmont Trust
2017-2A, 3.70% (3 Month USD LIBOR + 2.35%) due 07/18/286,7		28,600,000		29,001,504
BSPRT 2017-FL2 Issuer Ltd.
2017-FL2, 4.93% (1 Month USD LIBOR + 3.45%) due 10/15/346,7		16,500,000		16,375,059
2017-FL2, 3.63% (1 Month USD LIBOR + 2.15%) due 10/15/346,7		9,000,000		8,950,652
A Voce CLO Ltd.
2017-1A, 2.52% (3 Month USD LIBOR + 1.16%) due 07/15/266,7		24,375,000		24,391,509
Treman Park CLO Ltd.
2015-1A, due 04/20/273,7		32,400,000		24,282,468
ABPCI Direct Lending Fund CLO I LLC
2016-1A, 4.06% (3 Month USD LIBOR + 2.70%) due 12/22/286,7		24,000,000		24,076,721
OCP CLO 2014-7 Ltd.
2017-7A, 2.76% (3 Month USD LIBOR + 1.40%) due 10/20/266,7		24,050,000		24,004,937
Ares XXXIII CLO Ltd.
2016-1A, 2.84% (3 Month USD LIBOR + 1.35%) due 12/05/256,7		18,250,000		18,383,404
2016-1A, 4.29% (3 Month USD LIBOR + 2.80%) due 12/05/256,7		5,000,000		5,080,289
RFTI Issuer Ltd.
2015-FL1, 5.36% (1 Month USD LIBOR + 3.88%) due 08/15/306,7		22,841,000		22,854,202

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 30.7% (continued)
Collateralized Loan Obligations - 22.7% (continued)
Monroe Capital CLO 2014-1 Ltd.
2017-1A, 2.71% (3 Month USD LIBOR + 1.35%) due 10/22/266,7		18,500,000	$	18,496,438
2017-1A, 4.96% (3 Month USD LIBOR + 3.60%) due 10/22/266,7		3,000,000		2,998,654
Crown Point CLO III Ltd.
2017-3A, 2.81% (3 Month USD LIBOR + 1.45%) due 12/31/276,7		15,000,000		15,018,411
2015-3A, 2.27% (3 Month USD LIBOR + 0.91%) due 12/31/276,7		5,300,000		5,305,130
Crestline Denali CLO Ltd.
2017-1A, 2.97% (3 Month USD LIBOR + 1.60%) due 10/26/276,7		19,400,000		19,439,162
Regatta V Funding Ltd.
2017-1A, 2.53% (3 Month USD LIBOR + 1.16%) due 10/25/266,7		19,400,000		19,400,637
Northwoods Capital X Ltd.
2017-10A, 2.47% (3 Month USD LIBOR + 1.08%) due 11/04/256,7		15,200,000		15,197,567
2017-10A, 3.69% (3 Month USD LIBOR + 2.30%) due 11/04/256,7		4,000,000		3,989,913
Galaxy XVIII CLO Ltd.
2017-18A, 2.47% (3 Month USD LIBOR + 1.17%) due 10/15/266,7		19,000,000		19,051,783
Cerberus Loan Funding XVII Ltd.
2016-3A, 3.89% (3 Month USD LIBOR + 2.53%) due 01/15/286,7		18,000,000		18,116,064
Ladder Capital Commercial Mortgage 2017-FL1 Mortgage Trust
2017-FL1, 3.73% (1 Month USD LIBOR + 2.25%) due 09/15/346,7		12,198,000		12,131,999
2017-FL1, 5.08% (1 Month USD LIBOR + 3.60%) due 09/15/346,7		5,750,000		5,697,584
West CLO 2014-1 Ltd.
2017-1A, 2.27% (3 Month USD LIBOR + 0.92%) due 07/18/266,7		17,475,000		17,505,300
TICP CLO Ltd.
2014-3A, 2.54% (3 Month USD LIBOR + 1.18%) due 01/20/276,7		16,850,000		16,892,953
Avery Point II CLO Ltd.
2013-3X COM, due 01/18/253		19,800,000		16,308,718
Fortress Credit Opportunities VII CLO Ltd.
2016-7A, 4.27% (3 Month USD LIBOR + 2.95%) due 12/15/286,7		16,000,000		16,026,535
TICP CLO II Ltd.
2017-2A, 2.52% (3 Month USD LIBOR + 1.16%) due 07/20/266,7		15,950,000		15,990,064
Resource Capital Corp.
2015-CRE4, 4.48% (1 Month USD LIBOR + 3.00%) due 08/15/326,7		7,750,000		7,672,500
2015-CRE3, 5.48% (1 Month USD LIBOR + 4.00%) due 03/15/326,7		7,000,000		7,011,551
Venture XIX CLO Ltd.
2016-19A, 4.21% (3 Month USD LIBOR + 2.85%) due 01/15/276,7		14,350,000		14,436,967
Seneca Park CLO Limited
2017-1A, 2.47% (3 Month USD LIBOR + 1.12%) due 07/17/266,7		13,132,000		13,143,509
Fortress Credit Opportunities VI CLO Ltd.
2015-6A, 6.79% (3 Month USD LIBOR + 5.25%) due 10/10/266,7		5,400,000		5,386,442
2015-6A, 4.24% (3 Month USD LIBOR + 2.70%) due 10/10/266,7		4,000,000		4,003,863
2015-6A, 5.19% (3 Month USD LIBOR + 3.65%) due 10/10/266,7		3,000,000		3,000,003
OHA Credit Partners IX Ltd.
2013-9A, due 10/20/253,7		14,000,000		12,363,326
Voya CLO Ltd.
2013-1X, due 04/15/243		20,000,000		12,274,969
Flagship VII Ltd.
2017-7A, 2.48% (3 Month USD LIBOR + 1.12%) due 01/20/266,7		12,100,000		12,141,227
FDF I Ltd.
2015-1A, 5.50% due 11/12/307		12,000,000		12,092,495
Northwoods Capital XII Ltd.
2017-12A, 4.04% (3 Month USD LIBOR + 2.45%) due 09/15/256,7		12,000,000		12,057,048

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 30.7% (continued)
Collateralized Loan Obligations - 22.7% (continued)
Octagon Investment Partners XIX Ltd.
2017-1A, 2.46% (3 Month USD LIBOR + 1.10%) due 04/15/266,7		11,800,000	$	11,820,883
Atlas Senior Loan Fund III Ltd.
2017-1A, 2.25% (3 Month USD LIBOR + 0.83%) due 11/17/276,7		11,600,000		11,598,329
TCP Waterman CLO LLC
2016-1A, 4.59% (3 Month USD LIBOR + 3.00%) due 12/15/286,7		11,000,000		11,153,894
NewStar Clarendon Fund CLO LLC
2015-1A, 4.07% (3 Month USD LIBOR + 2.70%) due 01/25/276,7		7,000,000		6,998,393
2015-1A, 4.72% (3 Month USD LIBOR + 3.35%) due 01/25/276,7		4,000,000		4,002,644
Northwoods Capital XIV Ltd.
2017-14A, 3.76% (3 Month USD LIBOR + 2.45%) due 11/12/256,7		10,750,000		10,782,020
Venture XVI CLO Ltd.
2017-16A, 2.48% (3 Month USD LIBOR + 1.12%) due 04/15/266,7		10,300,000		10,301,884
Betony CLO Ltd.
2016-1A, 4.21% (3 Month USD LIBOR + 2.85%) due 04/15/276,7		5,450,000		5,512,502
2015-1A, 6.71% (3 Month USD LIBOR + 5.35%) due 04/15/276,7		4,500,000		4,477,483
Flagship CLO VIII Ltd.
2017-8A, 3.86% (3 Month USD LIBOR + 2.50%) due 01/16/266,7		9,825,000		9,848,794
Babson CLO Ltd.
2014-IA, due 07/20/253,7		11,900,000		5,845,189
2013-IIA, 4.60% (3 Month USD LIBOR + 3.25%) due 01/18/256,7		3,500,000		3,515,177
2012-2A, due 05/15/233,7		11,850,000		143,518
Benefit Street Partners CLO V Ltd.
2017-VA, 3.86% (3 Month USD LIBOR + 2.50%) due 10/20/266,7		9,000,000		9,090,936
MP CLO VII Ltd.
2017-1A, 2.37% (3 Month USD LIBOR + 0.84%) due 04/18/276,7		9,000,000		8,993,512
Recette Clo Ltd.
2017-1A, 2.66% (3 Month USD LIBOR + 1.30%) due 10/20/276,7		9,000,000		8,993,504
ACIS CLO Ltd.
2014-4A, 3.93% (3 Month USD LIBOR + 2.55%) due 05/01/266,7		3,600,000		3,607,826
2015-6A, 4.75% (3 Month USD LIBOR + 3.37%) due 05/01/276,7		3,250,000		3,249,361
2013-1A, 5.85% (3 Month USD LIBOR + 4.50%) due 04/18/246,7		2,100,000		2,100,037
Dryden 37 Senior Loan Fund
2015-37A, due 04/15/273,7		9,500,000		8,837,280
Steele Creek CLO Ltd.
2017-1A, 3.99% (3 Month USD LIBOR + 2.55%) due 08/21/266,7		8,550,000		8,576,496
NXT Capital CLO LLC
2017-1A, 3.26% (3 Month USD LIBOR + 1.90%) due 04/23/266,7		3,600,000		3,593,721
2017-1A, 3.71% (3 Month USD LIBOR + 2.35%) due 04/20/296,7		3,000,000		3,022,463
2015-1A, 5.51% (3 Month USD LIBOR + 4.15%) due 04/21/276,7		2,000,000		1,949,293
Telos CLO Ltd.
2017-6A, 3.95% (3 Month USD LIBOR + 2.60%) due 01/17/276,7		7,500,000		7,541,287
Fortress Credit Opportunities V CLO Ltd.
2017-5A, 5.60% (3 Month USD LIBOR + 4.25%) due 10/15/266,7		7,500,000		7,500,638
Newstar Commercial Loan Funding 2017-1 LLC
2017-1A, 4.83% (3 Month USD LIBOR + 3.50%) due 03/20/276,7		7,500,000		7,498,770
Woodmont 2017-3 Trust
2017-3A, 3.49% (3 Month USD LIBOR + 2.25%) due 10/18/296,7		7,400,000		7,484,387
Nelder Grove CLO Ltd.
2017-1A, 4.07% (3 Month USD LIBOR + 2.60%) due 08/28/266,7		7,450,000		7,476,178
Carlyle Global Market Strategies CLO Ltd.
2012-3A, due 10/04/283,7		6,400,000		4,861,086

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 30.7% (continued)
Collateralized Loan Obligations - 22.7% (continued)
2013-3X SUB, due 07/15/253		4,000,000	$	2,451,320
Cent CLO
2014-16A, 4.51% (3 Month USD LIBOR + 3.20%) due 08/01/246,7		7,250,000		7,253,931
FS Senior Funding Ltd.
2015-1A, 4.01% (3 Month USD LIBOR + 2.65%) due 05/28/256,7		7,200,000		7,231,947
Dryden 41 Senior Loan Fund
2015-41A, due 01/15/283,7		10,500,000		7,080,394
Catamaran CLO Ltd.
2012-1, 4.12% (3 Month USD LIBOR + 2.85%) due 12/20/236,7		7,000,000		7,019,736
Venture XIII CLO Ltd.
2013-13A, due 09/10/293,7		11,040,000		6,816,763
Blue Hill CLO Ltd.
2017-1A, 3.76% (3 Month USD LIBOR + 2.40%) due 01/15/266,7		6,500,000		6,561,203
Dryden 31 Senior Loan Fund
2017-31A, 2.43% (3 Month USD LIBOR + 1.08%) due 04/18/266,7		6,500,000		6,509,119
OZLM VI Ltd.
2017-6A, 4.05% (3 Month USD LIBOR + 2.70%) due 04/17/266,7		6,325,000		6,346,538
Cerberus Onshore II CLO-2 LLC
2014-1A, 5.45% (3 Month USD LIBOR + 4.15%) due 10/15/236,7		3,500,000		3,487,431
2014-1A, 4.65% (3 Month USD LIBOR + 3.35%) due 10/15/236,7		2,660,150		2,659,294
Shackleton VII CLO Ltd.
2016-7A, 4.21% (3 Month USD LIBOR + 2.85%) due 04/15/276,7		6,000,000		6,070,161
Flatiron CLO Ltd.
2017-1A, 3.75% (3 Month USD LIBOR + 2.40%) due 07/17/266,7		6,000,000		6,028,797
Resource Capital Corporation 2017-CRE5 Ltd.
2017-CRE5, 3.48% (1 Month USD LIBOR + 2.00%) due 07/15/346,7		6,000,000		5,999,984
Dryden 50 Senior Loan Fund
2017-50A, due 07/15/303,7		6,000,000		5,885,104
Hull Street CLO Ltd.
2014-1A, 4.90% (3 Month USD LIBOR + 3.60%) due 10/18/266,7		5,785,000		5,705,220
Silvermore CLO Ltd.
2014-1A, 4.42% (3 Month USD LIBOR + 3.00%) due 05/15/266,7		5,500,000		5,509,023
BNPP IP CLO Ltd.
2014-2A, 6.63% (3 Month USD LIBOR + 5.25%) due 10/30/256,7		5,500,000		5,361,536
Atlas Senior Loan Fund II Ltd.
2012-2A, due 01/30/243,7		9,600,000		5,269,332
Mountain Hawk II CLO Ltd.
2013-2A, 4.51% (3 Month USD LIBOR + 3.15%) due 07/22/246,7		2,750,000		2,680,370
2013-2A, 3.96% (3 Month USD LIBOR + 2.60%) due 07/22/246,7		2,500,000		2,520,001
Sudbury Mill CLO Ltd.
2017-1A, 3.80% (3 Month USD LIBOR + 2.45%) due 01/17/266,7		5,000,000		5,033,601
Fifth Street SLF II Ltd.
2015-2A, 4.19% (3 Month USD LIBOR + 2.81%) due 09/29/276,7		5,000,000		4,982,632
WhiteHorse X Ltd.
2015-10A, 6.65% (3 Month USD LIBOR + 5.30%) due 04/17/276,7		4,980,000		4,806,628
FDF II Ltd.
2016-2A, 6.29% due 05/12/317		4,750,000		4,756,322
NewStar Arlington Senior Loan Program LLC
2014-1A, 5.62% (3 Month USD LIBOR + 4.25%) due 07/25/256,7		2,750,000		2,649,320
2014-1A, 4.67% (3 Month USD LIBOR + 3.30%) due 07/25/256,7		2,000,000		1,982,966
AMMC CLO XV Ltd.
2016-15A, 4.34% (3 Month USD LIBOR + 2.80%) due 12/09/266,7		4,500,000		4,568,948
Vibrant Clo III Ltd.
2016-3A, 4.31% (3 Month USD LIBOR + 2.95%) due 04/20/266,7		4,500,000		4,536,256
Tuolumne Grove CLO Ltd.
2014-1A, 6.12% (3 Month USD LIBOR + 4.75%) due 04/25/266,7		4,750,000		4,500,591

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 30.7% (continued)
Collateralized Loan Obligations - 22.7% (continued)
Halcyon Loan Advisors Funding Ltd.
2012-2A, 4.18% (3 Month USD LIBOR + 2.85%) due 12/20/246,7		3,250,000	$	3,258,769
2012-1A, 4.32% (3 Month USD LIBOR + 3.00%) due 08/15/236,7		1,000,000		1,004,242
Great Lakes CLO Ltd.
2015-1A, 5.05% (3 Month USD LIBOR + 3.75%) due 07/15/266,7		4,250,000		4,147,933
TICP CLO I Ltd.
2014-1A, 5.87% (3 Month USD LIBOR + 4.50%) due 04/26/266,7		4,200,000		4,142,745
OHA Loan Funding Ltd.
2017-1A, 4.41% (3 Month USD LIBOR + 3.05%) due 07/23/256,7		4,100,000		4,135,027
Madison Park Funding XVI Ltd.
2016-16A, 4.01% (3 Month USD LIBOR + 2.65%) due 04/20/266,7		4,000,000		4,013,266
Symphony Clo V Ltd.
2007-5A, 5.61% (3 Month USD LIBOR + 4.25%) due 01/15/246,7		4,000,000		3,999,369
Adams Mill CLO Ltd.
2014-1A, 6.36% (3 Month USD LIBOR + 5.00%) due 07/15/266,7		4,000,000		3,904,106
Jamestown CLO VI Ltd.
2015-6A, 4.57% (3 Month USD LIBOR + 3.25%) due 02/20/276,7		3,750,000		3,710,542
Garrison Funding Ltd.
2016-2A, 5.32% (3 Month USD LIBOR + 4.00%) due 09/29/276,7		3,700,000		3,657,158
OZLM IX Ltd.
2017-9A, 3.71% (3 Month USD LIBOR + 2.35%) due 01/20/276,7		3,500,000		3,532,272
Palmer Square CLO Ltd.
2017-1A, 3.47% (3 Month USD LIBOR + 2.05%) due 05/15/256,7		3,500,000		3,499,385
NewMark Capital Funding CLO Ltd.
2014-2A, 4.84% (3 Month USD LIBOR + 3.50%) due 06/30/266,7		3,500,000		3,493,934
Fifth Street Senior Loan Fund I LLC
2015-1A, 5.11% (3 Month USD LIBOR + 3.75%) due 01/20/276,7		3,500,000		3,466,956
Mountain Hawk I CLO Ltd.
2013-1A, 4.08% (3 Month USD LIBOR + 2.72%) due 01/20/246,7		3,400,000		3,400,200
Hunt CRE 2017-FL1 Ltd.
2017-FL1, 3.63% (1 Month USD LIBOR + 2.40%) due 08/15/346,7		3,350,000		3,376,323
PFP Ltd.
2017-3, 3.93% (1 Month USD LIBOR + 2.50%) due 01/14/356,7		3,250,000		3,264,510
Flatiron CLO Ltd.
2013-1A, 4.95% (3 Month USD LIBOR + 3.60%) due 01/17/266,7		3,200,000		3,201,531
Mountain Hawk III CLO Ltd.
2014-3A, 4.15% (3 Month USD LIBOR + 2.80%) due 04/18/256,7		3,000,000		3,004,082
AMMC CLO XI Ltd.
2012-11A, due 10/30/233,7		5,650,000		2,798,180
ALM XIV Ltd.
2014-14A, 4.83% (3 Month USD LIBOR + 3.45%) due 07/28/266,7		2,500,000		2,500,000
West CLO Ltd.
2013-1A, due 11/07/253,7		5,300,000		2,485,779
Shackleton CLO Ltd.
2014-6A, 4.95% (3 Month USD LIBOR + 3.60%) due 07/17/266,7		2,068,000		2,068,211
Cent CLO 21 Ltd.
2017-21A, 3.72% (3 Month USD LIBOR + 2.40%) due 07/27/266,7		2,000,000		2,008,687
AIMCO CLO Series
2015-AA, 4.66% (3 Month USD LIBOR + 3.30%) due 01/15/286,7		2,000,000		2,000,000
Lime Street CLO Ltd.
2007-1A, 3.83% (3 Month USD LIBOR + 2.50%) due 06/20/216,7		2,000,000		1,985,082
Atlas Senior Loan Fund VI Ltd.
2017-6A, 3.76% (3 Month USD LIBOR + 2.40%) due 10/15/266,7		1,800,000		1,794,751
Jefferson Mill CLO Ltd.
2015-1A, 6.91% (3 Month USD LIBOR + 5.60%) due 07/20/276,7		1,750,000		1,749,579
Grayson CLO Ltd.
2006-1A, 1.79% (3 Month USD LIBOR + 0.41%) due 11/01/216,7		1,576,642		1,574,052

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 30.7% (continued)
Collateralized Loan Obligations - 22.7% (continued)
Voya CLO 2013-1 Ltd.
2013-1A, due 10/15/303,7		2,263,307	$	1,389,101
Great Lakes CLO 2014-1 Ltd.
2014-1A, due 10/15/293,7		1,500,000		1,349,138
Newstar Commercial Loan Funding LLC
2014-1A, 6.11% (3 Month USD LIBOR + 4.75%) due 04/20/256,7		1,250,000		1,226,800
Northwoods Capital XI Ltd.
2017-11A, 3.76% (3 Month USD LIBOR + 2.40%) due 04/15/256,7		1,000,000		1,000,285
Copper River CLO Ltd.
2007-1A, due 01/20/213,8		8,150,000		902,237
Carlyle Global Market Strategies CLO 2013-3 Ltd.
2013-3A, due 10/15/303,7		938,326		575,034
Cerberus Onshore II CLO LLC
2014-1A, 5.36% (3 Month USD LIBOR + 4.00%) due 10/15/236,7		546,241		545,994
Eastland CLO Ltd.
2007-1A, 1.78% (3 Month USD LIBOR + 0.40%) due 05/01/226,7		296,522		296,055
Keuka Park CLO Ltd.
2013-1A, due 10/21/243,7		2,948,870		272,372
Gramercy Park CLO Ltd.
2012-1A, due 07/17/233,7		2,650,000		88,957
2012-1X, due 07/17/233		1,250,000		41,961
Total Collateralized Loan Obligations				1,477,885,923
Transport-Aircraft - 5.8%
Apollo Aviation Securitization Equity Trust
2017-1A, 5.93% due 05/16/427		16,703,750		16,979,330
2014-1, 7.38% (WAC) due 12/15/296		12,986,063		12,986,063
2014-1, 5.13% (WAC) due 12/15/296		12,196,518		12,164,618
2016-2, 5.93% due 11/15/41		10,110,240		10,130,885
2016-2, 4.21% due 11/15/41		9,027,000		9,007,863
2016-1A, 6.50% due 03/17/367		4,950,000		5,079,902
2016-2, 7.87% due 11/15/41		3,801,979		3,811,909
KDAC Aviation Finance Ltd.
2017-1A, 4.21% due 12/15/427		66,100,000		66,282,899
AASET Trust
2017-1A, 3.97% due 05/16/427		64,333,300		64,558,820
Raspro Trust
2005-1A, 1.99% (3 Month USD LIBOR + 0.63%) due 03/23/246,7		54,641,325		52,182,465
Castlelake Aircraft Securitization Trust
2017-1, 3.97% due 07/15/42		35,520,593		35,431,792
Falcon Aerospace Ltd.
2017-1, 4.58% due 02/15/427		14,827,080		14,995,842
AIM Aviation Finance Ltd.
2015-1A, 5.07% due 02/15/407		13,670,113		13,378,741
Falcon Aerospace Limited
2017-1, 6.30% due 02/15/427		11,096,700		11,142,163
Rise Ltd.
2014-1B, 6.50% due 02/12/39		5,658,020		5,728,971
2014-1A, 4.74% due 02/12/39		4,223,638		4,271,154
Castle Aircraft SecuritizationTrust
2015-1A, 5.75% due 12/15/407		8,388,143		8,095,737
Stripes Aircraft Ltd.
2013-1 A1, 5.00% due 03/20/23†††		7,219,703		7,095,672
Atlas Ltd.
2014-1 A, 4.87% due 12/15/39		5,778,519		5,788,921
Emerald Aviation Finance Ltd.
2013-1, 6.35% due 10/15/387		4,855,340		4,972,496
Turbine Engines Securitization Ltd.
2013-1A, 5.13% due 12/13/488		2,919,165		2,923,894
2013-1A, 6.38% due 12/13/488		2,079,124		2,003,972
Eagle I Ltd.
2014-1A, 5.29% due 12/15/397		4,265,625		4,186,004
Willis Engine Securitization Trust II
2012-A, 5.50% due 09/15/377		3,984,960		3,904,466
AABS Ltd.
2013-1 A, 4.87% due 01/10/38		1,926,096		1,945,114

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 30.7% (continued)
Transport-Aircraft - 5.8% (continued)
Airplanes Pass Through Trust
2001-1A, 1.78% (1 Month USD LIBOR + 0.55%) due 03/15/196,8		2,414,720	$	433,201
Total Transport-Aircraft				379,482,894
Whole Business - 0.9%
TSGE
2017-1, 6.25% due 09/25/31†††,1		42,550,000		42,688,752
DB Master Finance LLC
2015-1A, 3.98% due 02/20/457		13,371,875		13,648,806
Drug Royalty III Limited Partnership 1
2017-1A, 3.86% (3 Month USD LIBOR + 2.50%) due 04/15/276,7		3,754,997		3,754,940
Miramax LLC
2014-1A, 3.34% due 07/20/267		995,200		996,013
Total Whole Business				61,088,511
Collateralized Debt Obligations - 0.7%
N-Star REL CDO VIII Ltd.
2006-8A, 1.72% (1 Month USD LIBOR + 0.36%) due 02/01/416,7		19,501,287		19,471,361
Putnam Structured Product Funding Ltd.
2003-1A, 2.48% (1 Month USD LIBOR + 1.00%) due 10/15/386,7		16,196,794		15,444,736
Anchorage Credit Funding 4 Ltd.
2016-4A, 4.50% due 02/15/357		5,000,000		5,049,349
Highland Park CDO I Ltd.
2006-1A, 1.86% (3 Month USD LIBOR + 0.40%) due 11/25/516,8		3,834,713		3,676,714
Banco Bradesco SA
2014-1, 5.44% due 03/12/268		2,726,407		2,746,855
Static Repackaging Trust Ltd.
2004-1A, 2.46% (3 Month USD LIBOR + 1.05%) due 05/10/396,7		1,103,043		1,095,736
Pasadena CDO Ltd.
2002-1A, 2.48% (3 Month USD LIBOR + 0.85%) due 06/19/376,7		422,422		420,594
Total Collateralized Debt Obligations				47,905,345
Unsecured Consumer Loans - 0.4%
Sofi Consumer Loan Program 2017-6 LLC
2017-6, 2.20% due 11/25/267		24,804,414		24,758,332
Diversified Payment Rights - 0.1%
CIC Receivables Master Trust
REGD, 4.89% due 10/07/21†††		4,895,908		5,056,593
Automotive - 0.1%
Hertz Vehicle Financing II, LP
2015-1A, 3.52% due 03/25/217		4,600,000		4,587,977
Total Asset-Backed Securities
(Cost $1,995,861,475)				2,000,765,575

FOREIGN GOVERNMENT BONDS†† - 15.5%
Government of Japan
due 02/13/184	JPY	21,330,000,000	189,319,958
Republic of Portugal
due 01/19/184	EUR	109,740,000	131,683,392
Spain (Kingdom Of)
due 02/16/184	EUR	103,840,000	124,668,672
due 03/09/184	EUR	16,295,000	19,568,447
			144,237,119
Republic of France
due 01/31/184	EUR	52,092,000	62,535,712
due 01/10/184	EUR	48,120,000	57,675,298
due 02/07/184	EUR	20,440,000	24,541,635
Total Republic of France			144,752,645
Hungary (Republic Of)
due 01/17/184	HUF	9,400,000,000	36,294,184
4.00% due 04/25/18	HUF	7,598,000,000	29,703,753
2.50% due 06/22/18	HUF	3,873,060,000	15,130,342
due 02/28/184	HUF	3,300,000,000	12,740,658
due 02/14/184	HUF	3,000,000,000	11,582,926
due 02/07/184	HUF	2,817,100,000	10,876,699
due 07/18/184	HUF	2,390,000,000	9,224,150
due 04/11/184	HUF	1,754,550,000	6,773,326
due 09/26/184	HUF	200,000,000	771,980
Total Hungary (Republic Of)			133,098,017
Government of United Kingdom
due 01/08/184	GBP	57,240,000	77,274,580
due 01/29/184	GBP	36,840,000	49,726,465
due 01/30/18†††,4	GBP	4,600,000	6,210,054
due 01/02/184	GBP	2,058,000	2,778,415
Total Government of United Kingdom			135,989,514
Republic of Italy
due 01/31/184	EUR	67,805,000	81,377,633
due 01/12/184	EUR	4,680,000	5,615,551
			86,993,184
Denmark Treasury Bill
due 03/01/184	DKK	248,500,000	40,097,132
Total Foreign Government Bonds
(Cost $994,014,863)			1,006,170,962

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

COLLATERALIZED MORTGAGE OBLIGATIONS†† - 14.2%
Residential Mortgage Backed Securities - 11.4%
LSTAR Securities Investment Limited 2017-9
2017-9, 3.02% (1 Month USD LIBOR + 1.55%) due 12/01/226,7	100,000,000	99,913,441
LSTAR Securities Investment Limited
2017-6, 2.99% (1 Month USD LIBOR + 1.75%) due 09/01/226,7	49,160,376	49,191,101
2017-3, 3.24% (1 Month USD LIBOR + 2.00%) due 04/01/226,7	27,397,904	27,429,275
LSTAR Securities Investment Limited 2017-8 LLC
2017-8, 3.01% (1 Month USD LIBOR + 1.65%) due 11/01/226,7	58,378,187	58,096,687
LSTFV
2017-1A, 3.86% due 04/01/20†††	54,355,291	53,878,126
CIM Trust
2017-2, 3.36% (1 Month USD LIBOR + 2.00%) due 12/25/576,7	51,626,620	52,163,526
Structured Asset Securities Corporation Mortgage Loan Trust
2008-BC4, 2.18% (1 Month USD LIBOR + 0.63%) due 11/25/376	49,792,647	49,606,387
RALI Series Trust
2006-QO8, 1.52% (1 Month USD LIBOR + 0.20%) due 10/25/466	13,347,961	12,341,963
2006-QO10, 1.71% (1 Month USD LIBOR + 0.16%) due 01/25/376	9,407,222	8,828,365
2006-QO3, 1.76% (1 Month USD LIBOR + 0.21%) due 04/25/466	14,596,771	7,412,005
2007-QO2, 1.70% (1 Month USD LIBOR + 0.15%) due 02/25/476	11,091,438	7,123,087
2006-QO2, 1.82% (1 Month USD LIBOR + 0.27%) due 02/25/466	12,689,106	5,767,654
2006-QO2, 1.77% (1 Month USD LIBOR + 0.22%) due 02/25/466	4,270,981	1,883,333
FirstKey Master Funding
2017-R1, 1.59% (1 Month USD LIBOR + 0.22%) due 11/03/41†††,6,7	43,750,000	41,354,360
Bayview Opportunity Master Fund IVb Trust
2017-RN1, 3.60% (WAC) due 02/28/326,7	14,524,951	14,525,281
2017-RPL1, 3.10% due 07/28/327	9,258,722	9,271,869
2017-NPL1, 3.60% due 01/28/327	7,989,403	7,999,018
Stanwich Mortgage Loan Company LLC
2017-NPA1, 3.60% due 03/16/227	23,410,389	23,516,602
American Home Mortgage Assets Trust
2007-1, 1.70% (1 Year CMT Rate + 0.70%) due 02/25/476	31,362,672	20,017,429
Nationstar Home Equity Loan Trust
2007-C, 1.73% (1 Month USD LIBOR + 0.18%) due 06/25/376	19,952,981	19,236,892
Lehman XS Trust Series
2006-16N, 1.43% (1 Month USD LIBOR + 0.19%) due 11/25/466	9,582,227	9,033,603
2006-10N, 1.45% (1 Month USD LIBOR + 0.21%) due 07/25/466	6,907,578	6,562,181
GSAMP TRUST
2002-HE2, 2.54% (1 Month USD LIBOR + 1.04%) due 10/20/326,7	15,475,314	15,566,207
NRPL Trust
2015-1A, 3.88% due 11/01/547	13,237,062	13,221,156
Stanwich Mortgage Loan Co.
2016-NPA1, 3.84% (WAC) due 10/16/466,7	12,225,014	12,145,395
Bayview Opportunity Master Fund IIa Trust
2017-RN5, 3.10% due 08/28/327	10,798,923	10,731,887

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 14.2% (continued)
Residential Mortgage Backed Securities - 11.4% (continued)
Bayview Opportunity Master Fund IIIa Trust
2017-RN7, 3.10% due 09/28/327		10,406,510	$	10,385,645
Merrill Lynch Alternative Note Asset Trust Series
2007-OAR3, 1.52% (1 Month USD LIBOR + 0.19%) due 07/25/376		10,911,602		9,578,771
GCAT
2017-1, 3.38% due 03/25/477		8,720,869		8,715,533
GSAA Home Equity Trust
2006-3, 1.62% (1 Month USD LIBOR + 0.30%) due 03/25/366		4,668,993		3,525,991
2007-7, 1.51% (1 Month USD LIBOR + 0.27%) due 07/25/376		2,770,463		2,636,070
2006-14, 1.49% (1 Month USD LIBOR + 0.25%) due 09/25/366		3,734,163		2,329,849
Luminent Mortgage Trust
2006-2, 1.75% (1 Month USD LIBOR + 0.20%) due 02/25/466		10,217,594		8,278,252
VOLT LIV LLC
2017-NPL1, 3.50% due 02/25/477		8,218,592		8,230,459
Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust
2006-AR9, 1.90% (1 Year CMT Rate + 0.84%) due 11/25/466		8,699,391		7,333,970
GSAA Trust
2006-9, 1.48% (1 Month USD LIBOR + 0.24%) due 06/25/366		12,559,723		7,264,277
HSI Asset Securitization Corporation Trust
2005-OPT1, 1.97% (1 Month USD LIBOR + 0.42%) due 11/25/356		6,830,004		6,834,948
GCAT LLC
2017-4, 3.23% due 05/25/227		6,603,046		6,604,689
Nomura Resecuritization Trust
2015-4R, 2.39% (1 Month USD LIBOR + 0.43%) due 03/26/366,7		5,419,705		5,209,415
American Home Mortgage Investment Trust
2006-1, 1.73% (1 Month USD LIBOR + 0.40%) due 03/25/466		5,217,462		5,047,115
Bayview Opportunity Master Fund IIIb Trust
2017-RN3, 3.23% due 05/28/327		4,559,067		4,550,754
Alliance Bancorp Trust
2007-OA1, 1.79% (1 Month USD LIBOR + 0.24%) due 07/25/376		3,899,530		3,178,280
Wachovia Asset Securitization Issuance II LLC Trust
2007-HE1, 1.69% (1 Month USD LIBOR + 0.14%) due 07/25/376,7		1,991,760		1,899,457
Morgan Stanley Re-REMIC Trust
2010-R5, 2.67% due 06/26/367		1,666,140		1,407,326
First Franklin Mortgage Loan Trust
2006-FF1, 1.99% (1 Month USD LIBOR + 0.44%) due 01/25/366		1,225,000		1,165,541
Asset Backed Securities Corporation Home Equity Loan Trust
2006-HE5, 1.69% (1 Month USD LIBOR + 0.14%) due 07/25/366		1,054,887		1,032,297
Total Residential Mortgage Backed Securities				742,025,469
Commercial Mortgage Backed Securities - 1.4%
GAHR Commercial Mortgage Trust
2015-NRF, 3.38% (WAC) due 12/15/346,7		45,627,003		44,795,026
Citigroup Commercial Mortgage Trust 2016-SMPL
2016-SMPL, 4.51% due 09/10/317		22,450,000		22,388,456
GS Mortgage Securities Corporation Trust
2017-STAY, 3.38% (1 Month USD LIBOR + 2.15%) due 07/15/326,7		16,531,000		16,247,723
GS Mortgage Securities Trust
2014-GSFL, 5.13% (1 Month USD LIBOR + 3.90%) due 07/15/316,7		6,038,536		6,060,401

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 14.2% (continued)
Commercial Mortgage Backed Securities - 1.4% (continued)
GE Business Loan Trust
2007-1A, 1.93% (1 Month USD LIBOR + 0.45%) due 04/16/356,7		2,190,462	$	2,016,439
Total Commercial Mortgage Backed Securities				91,508,045
Government Agency - 1.2%
Fannie Mae
3.00% due 02/01/57		29,598,293		29,393,841
3.06% due 01/01/28		17,000,000		17,250,871
3.06% due 11/01/27		16,158,000		16,417,599
2.86% due 11/01/27		14,700,000		14,692,125
Total Government Agency				77,754,436
Military Housing - 0.2%
GMAC Commercial Mortgage Asset Corp.
2004-POKA, 6.36% due 09/10/447		9,000,000		10,005,943
Capmark Military Housing Trust
2007-AET2, 6.06% due 10/10/528		5,794,312		6,235,537
Total Military Housing				16,241,480
Total Collateralized Mortgage Obligations
(Cost $917,288,068)				927,529,430

SENIOR FLOATING RATE INTERESTS††,6 - 11.3%
Technology - 3.5%
Misys Ltd.
4.98% (3 Month USD LIBOR + 3.50%) due 06/13/24		36,433,688	36,522,221
Epicor Software
5.32% (1 Month USD LIBOR + 3.75%) due 06/01/22		22,494,271	22,534,536
EIG Investors Corp.
5.46% (3 Month USD LIBOR + 4.00%) due 02/09/23		12,336,166	12,405,618
Project Alpha (Qlik)
5.04% (6 Month USD LIBOR + 3.50%) due 04/26/24		12,385,725	12,101,844
TIBCO Software, Inc.
5.07% (1 Month USD LIBOR + 3.50%) due 12/04/20		11,883,577	11,905,919
Severin Acquisition LLC
6.45% (1 Month USD LIBOR + 4.88%) due 07/30/21		3,421,250	3,410,302
6.32% (1 Month USD LIBOR + 4.75%) due 07/30/21		3,424,125	3,398,444
6.57% (1 Month USD LIBOR + 5.00%) due 07/30/21		2,608,360	2,610,968
6.95% (1 Month USD LIBOR + 5.38%) due 07/30/21		790,000	801,455
Planview, Inc.
6.82% (1 Month USD LIBOR + 5.25%) due 01/27/23†††,1		8,756,407	8,668,843
Advanced Computer Software
10.94% (3 Month USD LIBOR + 9.50%) due 01/31/23		5,000,000	4,693,750
6.94% (3 Month USD LIBOR + 5.50%) due 03/18/22		3,384,184	3,346,111
IRIS Software Group Ltd.
4.75% (1 Month USD LIBOR + 4.25%) due 08/23/21 †††,1	GBP	5,450,000	7,323,028
Optiv, Inc.
4.63% (3 Month USD LIBOR + 3.25%) due 02/01/24		7,768,167	7,253,526
Nimbus Acquisition Topco Ltd.
7.25% (3 Month USD LIBOR + 6.25%) due 07/15/21†††,1	GBP	5,050,000	6,750,703
Lytx, Inc.
8.44% (1 Month USD LIBOR + 6.75%) due 08/31/23†††,1		6,520,500	6,368,128
Palermo Finance Corp.
5.85% (3 Month USD LIBOR + 4.50%) due 04/17/23†††,1		6,417,750	6,361,405
LANDesk Group, Inc.
5.82% (1 Month USD LIBOR + 4.25%) due 01/20/24		6,430,060	6,102,513
Cvent, Inc.
5.32% (1 Month USD LIBOR + 3.75%) due 11/29/24		5,000,000	5,000,000
Peak 10 Holding Corp.
5.19% (3 Month USD LIBOR + 3.50%) due 08/01/24		4,788,000	4,780,531
Kronos, Inc.
4.90% (3 Month USD LIBOR + 3.50%) due 11/01/23		4,455,084	4,482,661
Bullhorn, Inc.
8.20% (3 Month USD LIBOR + 6.75%) due 11/21/22		4,296,291	4,269,580
8.20% (3 Month USD LIBOR + 6.75%) due 11/21/22†††,1		20,744	18,206
Masergy Holdings, Inc.
5.44% (3 Month USD LIBOR + 3.75%) due 12/15/23		4,257,744	4,241,778
Camelia Bidco Banc Civica
5.31% (3 Month USD LIBOR + 4.75%) due 10/14/24	GBP	3,000,000	4,045,105
Jaggaer
5.00% (3 Month USD LIBOR + 4.00%) due 12/28/24		3,550,000	3,532,250
Internet Brands, Inc.
5.34% (3 Month USD LIBOR + 3.75%) due 09/13/24		3,386,788	3,394,408
Infor (US), Inc.
3.25% (3 Month EURIBOR + 2.25%) due 02/01/22	EUR	2,679,000	3,217,178

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~			Value
SENIOR FLOATING RATE INTERESTS††,6 - 11.3% (continued)
Technology - 3.5% (continued)
Ipreo Holdings
4.69% (3 Month USD LIBOR + 3.00%) due 08/06/21			3,198,342	$	3,198,342
Eiger Acquisition B.V.
3.75% (3 Month EURIBOR + 3.75%) due 12/12/24		EUR	2,600,000		3,112,545
CPI Acquisition, Inc.
5.96% (3 Month USD LIBOR + 4.50%) due 08/17/22			3,822,372		2,752,108
Verisure Cayman 2
3.00% (3 Month EURIBOR + 3.00%) due 10/21/22		EUR	2,100,000		2,501,078
OEConnection LLC
5.69% (3 Month USD LIBOR + 4.00%) due 11/22/24			2,500,000		2,500,000
Viewpoint, Inc.
5.94% (3 Month USD LIBOR + 4.25%) due 07/19/24			2,094,750		2,099,987
Ministry Brands LLC
6.38% (3 Month USD LIBOR + 5.00%) due 12/02/22			1,494,311		1,486,840
6.48% (3 Month USD LIBOR + 5.00%) due 12/02/22			116,503		115,920
Project Accelerate Parent, LLC
5.00% (3 Month USD LIBOR + 5.00%) due 12/13/24			1,500,000		1,496,250
MRI Software LLC
7.95% (3 Month USD LIBOR + 6.25%) due 06/30/23†††,1			1,238,766		1,226,489
7.83% (3 Month USD LIBOR + 6.25%) due 06/30/23†††,1			62,344		61,726
GlobalLogic Holdings, Inc.
6.19% (3 Month USD LIBOR + 4.50%) due 06/20/22			1,229,300		1,238,520
CogitalGroup
4.50% (3 Month EURIBOR + 4.50%) due 11/25/23†††		EUR	1,000,000		1,187,762
Aspect Software, Inc.
12.07% (1 Month USD LIBOR + 10.50%) due 05/25/202			1,032,113		1,016,632
Wall Street Systems Delaware, Inc.
4.00% (1 Month EURIBOR + 3.00%) due 11/21/24		EUR	600,000		720,756
Quorum Business Solutions
6.13% (3 Month USD LIBOR + 4.75%) due 08/07/21			624,586		616,779
Mirion Technologies
6.44% (3 Month USD LIBOR + 4.75%) due 03/31/22			154,524		154,138
Total Technology					225,026,883
Industrial - 1.8%
DAE Aviation
5.32% (1 Month USD LIBOR + 3.75%) due 07/07/22			14,194,617		14,289,295
Tronair Parent, Inc.
6.16% (3 Month USD LIBOR + 4.75%) due 09/08/23			6,684,968		6,601,406
Hayward Industries, Inc.
5.07% (1 Month USD LIBOR + 3.50%) due 08/05/24			3,940,125		3,945,050
9.82% (1 Month USD LIBOR + 8.25%) due 08/04/25			2,600,000		2,574,000
Kuehg Corp. - Kindercare
5.44% (3 Month USD LIBOR + 3.75%) due 08/12/22			5,606,080		5,613,087
Arctic Long Carriers
6.07% (1 Month USD LIBOR + 4.50%) due 05/18/23			5,373,000		5,409,966
Diversitech Holdings, Inc.
5.20% (3 Month USD LIBOR + 3.50%) due 06/03/24			3,731,250		3,746,809
9.20% (3 Month USD LIBOR + 7.50%) due 06/02/25			1,000,000		1,007,500
Advanced Integration Technology LP
6.32% (1 Month USD LIBOR + 4.75%) due 04/03/23			4,457,298		4,479,584
Pro Mach Group, Inc.
5.32% (1 Month USD LIBOR + 3.75%) due 10/22/21			4,208,251		4,220,876
Pregis Holding I Corp.
5.19% (3 Month USD LIBOR + 3.50%) due 05/20/21			3,679,943		3,679,943
SI Organization
6.44% (3 Month USD LIBOR + 4.75%) due 11/23/19			3,650,869		3,678,250
CHI Overhead Doors, Inc.
4.94% (3 Month USD LIBOR + 3.25%) due 07/29/22			3,520,403		3,518,220
Resource Label Group LLC
6.19% (3 Month USD LIBOR + 8.50%) due 05/26/23			1,982,879		1,953,136
10.19% (3 Month USD LIBOR + 8.50%) due 11/26/23			1,500,000		1,492,500
ICSH Parent, Inc.
4.88% (2 Month USD LIBOR + 3.50%) and (3 Month USD LIBOR + 3.50%) due 04/29/24			3,036,117		3,043,707
Argo Merchants
5.32% (1 Month USD LIBOR + 3.75%) due 12/06/24			3,000,000		3,015,000
CPG International LLC
5.59% (3 Month USD LIBOR + 3.75%) due 05/05/24			2,804,061		2,808,744
Hardware Holdings LLC
8.19% (3 Month USD LIBOR + 6.50%) due 03/30/20			2,861,250		2,775,413
Bioplan USA, Inc.
6.32% (1 Month USD LIBOR + 4.75%) due 09/23/21			2,743,070		2,676,770
Hanjin International Corp.
3.85% (3 Month USD LIBOR + 2.50%) due 10/19/20			2,600,000		2,606,500

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~			Value
SENIOR FLOATING RATE INTERESTS††,6 - 11.3% (continued)
Industrial - 1.8% (continued)
CPM Holdings, Inc.
5.82% (1 Month USD LIBOR + 4.25%) due 04/11/22			2,264,224	$	2,291,576
Capstone Logistics
6.07% (1 Month USD LIBOR + 4.50%) due 10/07/21			2,154,557		2,120,450
Thermasys Corp.
5.35% (3 Month USD LIBOR + 4.00%) due 05/03/19			2,153,938		2,010,701
Dimora Brands, Inc.
5.57% (1 Month USD LIBOR + 4.00%) due 08/24/24			1,995,000		2,009,963
Hillman Group, Inc.
5.19% (3 Month USD LIBOR + 3.50%) due 06/30/21			1,754,188		1,762,959
6.36% (3 Month USD LIBOR + 2.75%) and (Commercial Prime Lending Rate + 2.25%) due 06/28/19†††,1			242,857		234,840
Pexco LLC
4.83% (2 Month USD LIBOR + 3.50%) due 05/08/24			1,890,500		1,888,137
Fortis Solutions Group LLC
5.98% (1 Month USD LIBOR + 4.50%) due 12/15/23			1,825,178		1,825,178
Survitec
5.28% (6 Month USD LIBOR + 4.75%) due 03/12/22		GBP	1,125,000		1,459,959
4.25% (6 Month EURIBOR + 4.25%) due 03/12/22		EUR	300,000		344,631
Zodiac Pool Solutions LLC
5.69% (3 Month USD LIBOR + 4.00%) due 12/20/23			1,738,946		1,746,563
Imagine Print Solutions LLC
6.45% (3 Month USD LIBOR + 4.75%) due 06/21/22			1,641,750		1,600,706
National Technical Systems
7.61% (1 Month USD LIBOR + 6.25%) due 06/12/21†††,1			1,569,444		1,530,208
ACA Compliance Group Holdings LLC
6.32% (1 Month USD LIBOR + 4.75%) due 01/29/21			1,492,500		1,490,634
EXC Holdings III Corp.
3.50% (3 Month EURIBOR + 3.50%) due 12/02/24		EUR	725,000		875,262
5.16% (6 Month USD LIBOR + 3.50%) due 12/02/24			500,000		503,280
Klockner Pentaplast of America, Inc.
4.75% (3 Month EURIBOR + 4.75%) due 06/30/22		EUR	1,100,000		1,321,148
American Bath Group LLC
6.94% (3 Month USD LIBOR + 5.25%) due 09/30/23			1,239,583		1,248,359
Endries Acquisition Holdings, Inc.
6.15% (Commercial Prime Lending Rate + 3.75%) due 06/01/23†††,1			1,246,875		1,235,607
Swissport Investments S.A.
3.75% (3 Month EURIBOR + 3.75%) due 02/08/22		EUR	972,222		1,150,208
Safety Bidco Ltd.
4.99% (1 Month USD LIBOR + 4.50%) due 11/06/24†††,1		GBP	850,000		1,136,279
CEP IV Investment
3.50% (3 Month EURIBOR + 3.50%) due 10/03/24		EUR	900,000		1,084,729
Amspec Services, Inc.
6.18% (3 Month USD LIBOR + 5.00%) due 07/01/22			800,000		796,000
Recess Holdings, Inc.
5.25% (6 Month USD LIBOR + 3.75%) due 09/30/24			704,762		707,405
Duran Group Holding GMBH
4.00% (3 Month EURIBOR + 4.00%) due 03/29/24		EUR	439,412		521,917
4.00% (3 Month EURIBOR + 4.00%) due 12/20/24		EUR	150,000		178,164
Ceva Group Plc (United Kingdom)
5.75% (3 Month USD EURIBOR + 4.75%) due 03/19/19		EUR	580,000		602,213
CAPRI ACQ BIDCO
3.25% (3 Month EURIBOR + 3.25%) due 11/01/24		EUR	400,000		480,706
Doncasters Group Ltd.
9.94% (3 Month USD LIBOR + 8.25%) due 10/09/20			456,207		426,097
Tank Holdings Corp.
5.59% (1 Month USD LIBOR + 4.25%), (2 Month USD LIBOR + 4.25%) and (3 Month USD LIBOR + 4.25%) due 03/16/22			415,217		417,294
NVA Holdings, Inc.
5.19% (3 Month USD LIBOR + 3.50%) due 08/14/21			379,171		381,700
Wencor Group
5.13% (1 Month LIBOR + 3.50%) and (Commercial Prime Lending Rate + 2.50%) due 06/19/19†††,1			246,154		237,676
Signode Industrial Group US, Inc.
7.50% (1 Month USD LIBOR + 3.00%) due 05/01/19			238,000		230,072
NANA Development Corp.
8.37% (3 Month USD LIBOR + 6.75%) due 03/15/18			39,321		38,928

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~			Value
SENIOR FLOATING RATE INTERESTS††,6 - 11.3% (continued)
Industrial - 1.8% (continued)
VC GB Holdings, Inc.
4.82% (1 Month USD LIBOR + 3.25%) due 02/28/24			11,228	$	11,284
Total Industrial					119,036,589
Consumer, Non-cyclical - 1.8%
IHC Holding Corp.
8.44% (3 Month LIBOR + 6.75%) due 04/30/21†††,1			7,137,327		7,077,811
8.35% (3 Month USD LIBOR + 6.75%) due 04/30/21†††,1			1,394,001		1,382,377
Affordable Care Holdings Corp.
6.17% (2 Month USD LIBOR + 4.75%) due 10/24/22			7,123,125		7,140,933
Lineage Logistics LLC
5.07% (1 Month USD LIBOR + 3.50%) due 04/07/21			6,300,951		6,314,750
Endo Luxembourg Finance Co.
5.88% (1 Month USD LIBOR + 4.25%) due 04/29/24			6,170,870		6,201,725
Authentic Brands
5.19% (3 Month USD LIBOR + 3.50%) due 09/27/24			5,885,250		5,907,320
One Call Medical, Inc.
5.53% (3 Month USD LIBOR + 4.00%) due 11/27/20			5,993,512		5,608,908
Immucor, Inc.
6.57% (1 Month USD LIBOR + 5.00%) due 06/15/21			5,522,250		5,605,084
AI Aqua Zip Bidco Pty Ltd.
5.07% (1 Month USD LIBOR + 3.50%) due 12/13/23			5,382,997		5,409,912
Springs Industries, Inc.
8.05% (1 Month USD LIBOR + 6.50%) due 06/01/21†††,1			5,023,500		5,023,500
Arctic Glacier Group Holdings, Inc.
5.82% (1 Month USD LIBOR + 4.25%) due 03/20/24			4,417,872		4,462,051
Grocery Outlet, Inc.
5.19% (3 Month USD LIBOR + 3.50%) due 10/21/21			4,328,619		4,325,935
Diamond (BC) B.V.
3.25% (2 Month EURIBOR + 3.25%) due 09/06/24		EUR	3,400,000		4,071,556
IVC Acquisition Midco Ltd.
4.99% (6 Month USD LIBOR + 4.50%) due 01/26/24		GBP	2,925,000		3,943,978
DJO Finance LLC
4.70% (1 Month USD LIBOR + 3.25%) due 06/08/20			3,687,106		3,632,463
SHO Holding I Corp.
6.44% (1 Month USD LIBOR + 5.00%) due 10/27/22			3,364,318		3,196,102
Packaging Coordinators Midco, Inc.
5.57% (1 Month USD LIBOR + 4.00%) due 06/30/23			3,160,000		3,163,950
Smart & Final Stores LLC
5.19% (3 Month USD LIBOR + 3.50%) due 11/15/22			3,200,000		3,118,656
Avantor, Inc.
5.51% (1 Month USD LIBOR + 4.00%) due 11/21/24			2,400,000		2,410,008
4.25% (1 Month EURIBOR + 4.25%) due 11/21/24		EUR	500,000		602,507
BCPE Eagle Buyer LLC
5.82% (1 Month USD LIBOR + 4.25%) due 03/18/24			2,884,235		2,812,129
Chef's Warehouse Parent LLC
5.57% (1 Month USD LIBOR + 4.75%) due 06/22/22			2,584,997		2,591,459
Amplify Snack Brands, Inc.
6.88% (1 Month USD LIBOR + 5.50%) due 09/02/23			2,167,181		2,170,432
Nellson Nutraceutical (US)
5.94% (3 Month USD LIBOR + 5.00%) due 12/23/21			2,166,600		2,166,600
Reddy Ice Holdings, Inc.
10.85% (3 Month USD LIBOR + 9.50%) due 11/01/19			1,125,000		1,048,129
6.88% (3 Month USD LIBOR + 5.50%) and (Commercial Prime Lending Rate + 4.50%) due 05/01/19			1,048,227		1,037,745
CTI Foods Holding Co. LLC
5.07% (1 Month USD LIBOR + 3.50%) due 06/29/20			1,250,000		1,137,500
8.82% (1 Month USD LIBOR + 7.25%) due 06/28/21			1,035,000		765,900
Give and Go Prepared Foods Corp.
5.70% (3 Month USD LIBOR + 4.25%) due 07/29/23			1,501,238		1,506,867
Valeo Foods Group Ltd.
3.75% (3 Month EURIBOR + 3.75%) due 08/27/24		EUR	1,225,000		1,471,955
Certara, Inc.
5.69% (3 Month USD LIBOR + 4.00%) due 08/15/24			1,346,625		1,355,041
ADMI Corp.
5.19% (3 Month USD LIBOR + 3.75%) due 04/29/22			1,286,802		1,297,264
Nellson Nutraceutical (CAD)
5.94% (3 Month LIBOR + 5.00%) due 12/23/21			1,268,311		1,268,311
CPI Holdco LLC
5.19% (3 Month USD LIBOR + 4.00%) due 03/21/24			1,194,001		1,202,956
Refresco Group N.V.
2.75% (3 Month USD EURIBOR + 2.75%) due 09/26/24		EUR	1,000,000		1,198,476

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~			Value
SENIOR FLOATING RATE INTERESTS††,6 - 11.3% (continued)
Consumer, Non-cyclical - 1.8% (continued)
MDVIP LLC
5.66% (3 Month USD LIBOR + 4.25%) due 11/14/24			1,000,000	$	1,000,000
Alegeus Technologies LLC
6.69% (3 Month USD LIBOR + 5.00%) due 04/28/23†††,1			995,000		986,171
Surgery Center Holdings, Inc.
4.82% (1 Month USD LIBOR + 3.25%) due 09/02/24			987,525		976,001
NES Global Talent
6.88% (3 Month USD LIBOR + 5.50%) due 10/03/19			991,301		892,171
NewCo Sab BidCo S.A.S.
3.00% (3 Month EURIBOR + 3.00%) due 04/22/24		EUR	550,000		657,763
Pelican Products, Inc.
5.94% (3 Month USD LIBOR + 4.25%) due 04/10/20			496,134		497,995
Alpha BidCo SAS
3.50% (3 Month EURIBOR + 3.50%) due 01/30/23		EUR	279,950		337,132
Cheese Bidco B.V.
3.50% (3 Month EURIBOR + 3.50%) due 01/30/23		EUR	120,050		144,571
Rite Aid Corp.
6.24% (1 Week USD LIBOR + 4.75%) due 08/21/20			100,000		100,292
American Tire Distributors, Inc.
5.82% (1 Month USD LIBOR + 4.25%) due 09/01/21			11,287		11,357
Targus Group International, Inc.
15.00% (Prime Rate + 10.50%) due 05/24/16†††,1,2			152,876		–
Total Consumer, Non-cyclical					117,233,743
Consumer, Cyclical - 1.7%
Petco Animal Supplies, Inc.
4.38% (3 Month USD LIBOR + 3.00%) due 01/26/23			15,204,495		11,436,669
Mavis Tire
6.67% (2 Month USD LIBOR + 5.25%) due 11/02/20†††,1			9,165,000		9,091,751
Navistar Inc.
4.90% (1 Month USD LIBOR + 3.50%) due 11/06/24			7,900,000		7,922,199
Accuride Corp.
6.94% (3 Month USD LIBOR + 5.25%) due 11/17/23			7,775,342		7,882,253
USIC Holding, Inc.
5.19% (3 Month USD LIBOR + 3.50%) due 12/08/23			6,759,234		6,793,030
Advantage Sales & Marketing LLC
4.63% (3 Month USD LIBOR + 3.25%) due 07/23/21			6,294,468		6,127,287
Truck Hero, Inc.
5.64% (3 Month USD LIBOR + 4.00%) due 04/22/24			5,639,000		5,637,252
Acosta, Inc.
4.64% (1 Month USD LIBOR + 3.25%) and (Commercial Prime Lending Rate + 2.25%) due 09/26/19†††,1			2,533,333		2,415,925
4.82% (1 Month USD LIBOR + 3.25%) due 09/26/21			2,453,216		2,146,564
3.90% (1 Month USD LIBOR + 3.25%) and (3 Month USD LIBOR + 3.25%) due 09/26/19†††,1			666,667		635,770
Cyan Blue Holdco 3 Ltd.
4.77% (3 Month USD LIBOR + 4.25%) due 08/23/24		GBP	3,700,000		5,020,983
5.19% (3 Month USD LIBOR + 3.50%) due 08/23/24			8,315		8,357
At Home Holding III Corp.
4.88% (3 Month USD LIBOR + 3.50%) due 06/03/22			4,875,000		4,868,906
Leslie's Poolmart, Inc.
5.37% (2 Month USD LIBOR + 3.75%) due 08/16/23			4,776,970		4,759,916
Belk, Inc.
6.10% (3 Month USD LIBOR + 4.75%) due 12/12/22			5,795,062		4,737,464
Amaya Holdings B.V.
5.19% (3 Month USD LIBOR + 3.50%) due 08/01/21			4,297,859		4,319,348
Sears Roebuck Acceptance Corp.
6.07% (3 Month USD LIBOR + 4.50%) due 01/20/19			4,026,042		4,046,172
BBB Industries, LLC
6.07% (1 Month USD LIBOR + 4.50%) due 11/03/21			3,728,577		3,768,211
Neiman Marcus Group, Inc.
4.64% (1 Month USD LIBOR + 3.25%) due 10/25/20			4,612,544		3,755,210
Checkers Drive-In Restaurants, Inc.
5.82% (1 Month USD LIBOR + 4.25%) due 04/25/24			3,432,742		3,432,743
Blue Nile, Inc.
8.19% (3 Month USD LIBOR + 6.50%) due 02/17/23			3,412,500		3,412,500
Men's Wearhouse
4.89% (1 Month USD LIBOR + 3.50%) and (3 Month USD LIBOR + 3.50%) due 06/18/21			2,926,986		2,925,171
Dealer Tire LLC
5.00% (3 Month USD LIBOR + 3.25%) due 12/22/21			2,077,401		2,105,966
Med Finance Merger Sub LLC
7.82% (1 Month USD LIBOR + 6.25%) due 08/16/21			1,564,645		1,570,591
Richmond UK Bidco Ltd.
4.75% (1 Month USD LIBOR + 4.25%) due 03/03/24		GBP	800,000		1,069,547

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
SENIOR FLOATING RATE INTERESTS††,6 - 11.3% (continued)
Consumer, Cyclical - 1.7% (continued)
K & N Parent, Inc.
6.32% (1 Month USD LIBOR + 4.75%) due 10/20/23		990,000	$	982,575
LegalZoom.com, Inc.
5.94% (3 Month USD LIBOR + 4.50%) due 11/21/24		900,000		897,750
Total Consumer, Cyclical				111,770,110
Communications - 1.0%
Cengage Learning Acquisitions, Inc.
5.71% (1 Month USD LIBOR + 4.25%) due 06/07/23		27,770,052		26,450,975
Mcgraw-Hill Global Education Holdings LLC
5.57% (1 Month USD LIBOR + 4.00%) due 05/04/22		8,118,200		8,091,166
Dominion Web Solutions LLC
7.50% (1 Month USD LIBOR + 6.00%) due 06/15/24†††,1		7,519,615		7,399,223
Market Track LLC
5.94% (3 Month USD LIBOR + 4.25%) due 06/05/24		4,239,375		4,218,178
Anaren, Inc.
6.19% (3 Month USD LIBOR + 4.50%) due 02/18/21		1,839,351		1,839,351
9.94% (3 Month USD LIBOR + 8.25%) due 08/18/21		1,500,000		1,500,000
Proquest LLC
5.32% (1 Month USD LIBOR + 3.75%) due 10/24/21		2,983,129		3,018,569
Ziggo Secured Finance BV
3.00% (6 Month EURIBOR + 3.00%) due 04/15/25		EUR 2,250,000		2,685,963
Neustar, Inc.
5.15% (3 Month USD LIBOR + 3.75%) due 08/08/24		2,500,000		2,520,000
Radiate HoldCo LLC
4.57% (1 Month USD LIBOR + 3.00%) due 02/01/24		2,487,437		2,466,568
SFR Group S.A.
3.00% (3 Month EURIBOR + 3.00%) due 01/31/26		EUR 1,000,000		1,160,264
Liberty Cablevision of Puerto Rico LLC
4.86% (3 Month USD LIBOR + 3.50%) due 01/07/22		1,030,000		996,525
TVC Albany, Inc.
5.69% (3 Month USD LIBOR + 4.00%) due 09/18/24		748,125		749,995
Total Communications				63,096,777
Financial - 0.5%
National Financial Partners Corp.
5.07% (1 Month USD LIBOR + 3.50%) due 01/08/24		9,243,188		9,282,471
Americold Realty Operating Partnership, LP
5.32% (1 Month USD LIBOR + 3.75%) due 12/01/22		8,651,448		8,732,599
Misys Ltd.
4.25% (3 Month EURIBOR + 3.25%) due 06/13/24		EUR 3,491,250		4,207,846
York Risk Services
5.32% (1 Month USD LIBOR + 3.75%) due 10/01/21		3,002,404		2,934,099
PT Intermediate Holdings III LLC
5.57% (1 Month USD LIBOR + 4.00%) due 12/09/24		2,500,000		2,509,375
9.57% (1 Month USD LIBOR + 8.00%) due 12/08/25		400,000		400,000
Jane Street Group LLC
5.88% (3 Month USD LIBOR + 4.50%) due 08/25/22		1,777,500		1,798,617
American Stock Transfer & Trust
6.20% (3 Month USD LIBOR + 4.50%) due 06/26/20		1,541,386		1,543,960
Institutional Shareholder Services
5.11% (3 Month USD LIBOR + 3.75%) due 10/16/24		733,333		734,558
Total Financial				32,143,525
Utilities - 0.4%
Invenergy Thermal Operating I, LLC
7.19% (3 Month USD LIBOR + 5.50%) due 10/19/22		11,579,092		10,884,347
Viva Alamo LLC
5.82% (1 Month USD LIBOR + 4.25%) due 02/22/21		5,188,594		5,117,251
MRP Generation Holding
8.69% (3 Month USD LIBOR + 7.00%) due 10/18/22		3,456,250		3,179,750
Exgen Texas Power LLC
due 09/18/219		4,065,977		2,561,565
Terraform AP Acquisition Holdings LLC
5.94% (3 Month USD LIBOR + 4.25%) due 06/27/22		2,403,186		2,406,190
Osmose Utility Services, Inc.
5.44% (3 Month USD LIBOR + 3.75%) due 08/22/22		1,299,630		1,315,876
Bhi Investments LLC
6.19% (3 Month USD LIBOR + 4.50%) due 08/28/24		1,221,938		1,209,718
Panda Power
8.19% (3 Month USD LIBOR + 6.50%) due 08/21/20		1,305,125		1,190,927
Panda Temple II Power
7.69% (3 Month USD LIBOR + 6.00%) due 04/03/19		1,082,212		973,990

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
SENIOR FLOATING RATE INTERESTS††,6 - 11.3% (continued)
Utilities - 0.4% (continued)
Stonewall
7.19% (3 Month USD LIBOR + 5.50%) due 11/13/21		498,750	$	483,787
Total Utilities				29,323,401
Basic Materials - 0.3%
A-Gas Ltd.
6.44% (3 Month USD LIBOR + 4.75%) due 08/11/24†††,1		6,587,833		6,463,387
Dubois Chemicals, Inc.
5.32% (1 Month USD LIBOR + 3.75%) due 03/15/24		2,780,000		2,786,950
Hoffmaster Group, Inc.
6.19% (3 Month USD LIBOR + 4.50%) due 11/21/23		2,425,500		2,442,673
ICP Industrial, Inc.
5.37% (1 Month USD LIBOR + 4.00%) due 11/03/23		1,979,314		1,969,417
EP Minerals LLC
5.98% (3 Month USD LIBOR + 4.50%) due 08/20/20		1,797,583		1,799,830
Big River Steel LLC
6.69% (3 Month USD LIBOR + 5.00%) due 08/23/23		1,695,750		1,708,468
ASP Chromaflo Dutch I B.V.
5.57% (1 Month USD LIBOR + 4.00%) due 11/20/23		1,678,875		1,685,171
ASP Chromaflo Intermediate Holdings, Inc.
5.57% (1 Month USD LIBOR + 4.00%) due 11/20/23		1,291,125		1,295,967
Ferro Corp.
2.75% (3 Month EURIBOR + 2.75%) due 02/14/24		EUR 595,500		716,986
Nexeo Solutions LLC
4.72% (3 Month USD LIBOR + 3.25%) due 06/09/23		297,000		298,485
Total Basic Materials				21,167,334
Energy - 0.3%
Moss Creek Resources LLC
9.50% (1 Month USD LIBOR + 8.00%) due 04/07/22†††,1		9,722,222		9,600,694
Cactus Wellhead
7.69% (3 Month USD LIBOR + 6.00%) due 07/31/20		3,767,156		3,751,447
Summit Midstream Partners, LP
7.57% (1 Month USD LIBOR + 6.00%) due 05/13/22		2,024,000		2,056,040
Gavilan Resources LLC
7.46% (1 Month USD LIBOR + 6.00%) due 03/01/24		2,050,000		2,027,798
Riverstone Utopia Member LLC
5.61% (2 Month USD LIBOR + 4.25%) due 10/17/24		1,350,000		1,370,250
PSS Companies
6.34% (3 Month USD LIBOR + 4.50%) due 01/28/20		843,658		797,257
Total Energy				19,603,486
Total Senior Floating Rate Interests
(Cost $743,503,771)				738,401,848

CORPORATE BONDS†† - 9.7%
Financial - 6.2%
Citigroup, Inc.
6.25% 10,11	38,320,000	42,266,960
5.95% 10,11	16,615,000	17,694,975
5.90% 10,11	3,300,000	3,514,500
Wells Fargo & Co.
5.88% 10,11	29,550,000	32,728,103
5.90% 10,11	20,666,342	22,106,786
Bank of America Corp.
6.30% 10,11	31,944,000	36,096,720
6.10% 10,11	15,613,000	17,135,267
JPMorgan Chase & Co.
6.10% 10,11	27,400,000	30,107,120
6.00% 10,11	7,839,309	8,427,649
American Equity Investment Life Holding Co.
5.00% due 06/15/27	32,706,000	33,889,834
Station Place Securitization Trust Series
2.54% (1 Month USD LIBOR + 1.25%) due 11/24/186,7	30,000,000	30,000,000
Goldman Sachs Group, Inc.
5.30% 10,11	27,880,000	29,622,500
MetLife, Inc.
9.25% due 04/08/387	12,600,000	18,585,000
10.75% due 08/01/39	4,849,000	8,109,953
KeyCorp
5.00% 10,11	13,997,000	14,416,910
Atlas Mara Ltd.
8.00% due 12/31/20	14,400,000	12,960,000
Jefferies Finance LLC / JFIN Company-Issuer Corp.
7.25% due 08/15/247	11,150,000	11,442,687
EPR Properties
4.50% due 06/01/27	8,150,000	8,196,377
Hospitality Properties Trust
5.25% due 02/15/26	4,901,000	5,263,777
FBM Finance, Inc.
8.25% due 08/15/217	4,475,000	4,754,687
Customers Bank
6.13% due 06/26/298,11	4,500,000	4,736,250
QBE Insurance Group Ltd.
7.50% due 11/24/437,11	3,800,000	4,408,000
NewStar Financial, Inc.
7.25% due 05/01/20	2,486,000	2,576,118
Univest Corporation of Pennsylvania
5.10% due 03/30/2511	2,500,000	2,575,000

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
CORPORATE BONDS†† - 9.7% (continued)
Financial - 6.2% (continued)
Jefferies LoanCore LLC / JLC Finance Corp.
6.88% due 06/01/207		944,000	$	972,320
Total Financial				402,587,493
Basic Materials - 1.0%
BHP Billiton Finance USA Ltd.
6.75% due 10/19/757,11		33,075,000		38,618,039
Yamana Gold, Inc.
4.95% due 07/15/24		18,149,000		18,986,301
4.63% due 12/15/27		3,200,000		3,216,681
Eldorado Gold Corp.
6.13% due 12/15/207		4,300,000		4,257,000
GCP Applied Technologies, Inc.
9.50% due 02/01/237		1,300,000		1,443,000
Mirabela Nickel Ltd.
9.50% due 06/24/19		1,885,418		245,105
New Day Aluminum
10.00% due 10/28/20†††,1,12		49,580		49,580
Total Basic Materials				66,815,706
Energy - 1.0%
Hess Corp.
5.60% due 02/15/41		23,048,000		24,854,127
7.30% due 08/15/31		14,341,000		17,392,116
7.13% due 03/15/33		9,250,000		11,159,288
6.00% due 01/15/40		1,750,000		1,933,848
BreitBurn Energy Partners Limited Partnership / BreitBurn Operating LP / BreitBurn Finance Corp.
9.25% due 05/18/20†††,13		5,037,000		5,039,155
Unit Corp.
6.63% due 05/15/21		1,850,000		1,863,875
Schahin II Finance Co. SPV Ltd.
5.88% due 09/25/227,8,13		7,557,400		831,314
American Midstream Partners Limited Partnership / American Midstream Finance Corp.
8.50% due 12/15/217		325,000		333,938
Exterran Energy Solutions Limited Partnership / EES Finance Corp.
8.13% due 05/01/257		300,000		322,500
Total Energy				63,730,161
Industrial - 0.7%
Encore Capital Group, Inc.
5.62% due 08/11/24†††		39,600,000		39,313,470
StandardAero Aviation Holdings, Inc.
10.00% due 07/15/237		3,000,000		3,285,000
Princess Juliana International Airport Operating Company N.V.
5.50% due 12/20/27†††,1,8		1,617,932		1,424,375
Total Industrial				44,022,845
Consumer, Cyclical - 0.4%
Ferrellgas Limited Partnership / Ferrellgas Finance Corp.
6.50% due 05/01/21		8,309,000		7,779,301
6.75% due 06/15/2314		4,361,000		4,001,218
Ferrellgas, LP / Ferrellgas Finance Corp.
6.75% due 01/15/2214		10,428,500		9,646,363
Carrols Restaurant Group, Inc.
8.00% due 05/01/22		4,499,000		4,735,197
Titan International, Inc.
6.50% due 11/30/237		2,700,000		2,747,250
Total Consumer, Cyclical				28,909,329
Communications - 0.2%
SFR Group S.A.
7.38% due 05/01/267		6,150,000		6,311,438
Cengage Learning, Inc.
9.50% due 06/15/247		4,125,000		3,733,125
EIG Investors Corp.
10.88% due 02/01/24		1,750,000		1,942,500
MDC Partners, Inc.
6.50% due 05/01/247		1,350,000		1,356,750
McGraw-Hill Global Education Holdings LLC / McGraw-Hill Global Education Finance
7.88% due 05/15/247		1,295,000		1,278,812
Total Communications				14,622,625
Consumer, Non-cyclical - 0.1%
Offutt AFB America First Community LLC
5.46% due 09/01/507		5,735,445		6,163,670
Great Lakes Dredge & Dock Corp.
8.00% due 05/15/22		2,100,000		2,197,125
Beverages & More, Inc.
11.50% due 06/15/227		1,600,000		1,472,000
Total Consumer, Non-cyclical				9,832,795
Mortgage Securities - 0.1%
Station Place Securitization Trust
3.80% (1 Month USD LIBOR + 2.25%) due 02/25/496,7		5,000,000		5,001,858
Technology - 0.0%
Epicor Software Corp.
9.94% (3 Month USD LIBOR + 8.25%) due 06/30/23†††,1,6,7		1,850,000		1,850,000
Total Corporate Bonds
(Cost $628,065,864)				637,372,812

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
MUNICIPAL BONDS†† - 0.0%
Puerto Rico - 0.0%
Puerto Rico Electric Power Authority Revenue Bonds
1.41% (3 Month USD LIBOR + 0.52%) due 07/01/296		1,000,000	$	831,250
Illinois - 0.0%
Chicago Board of Education General Obligation Unlimited
1.75% due 12/15/25		520,000		375,918
Total Municipal Bonds
(Cost $1,161,775)				1,207,168

COMMERCIAL PAPER††0.2%
Amcor Ltd.
1.50% due 01/08/1815	14,000,000	13,995,917
Total Commercial Paper
(Cost $13,995,917)		13,995,917

REPURCHASE AGREEMENTS††,16 - 0.2%
Barclays issued 10/03/17 at 0.75% open maturity	8,019,500	8,019,500
issued 11/24/17 at 0.80% open maturity	2,349,469	2,349,469
issued 09/27/17 at (0.75)% open maturity	1,146,375	1,146,375
issued 09/08/17 at 0.50% open maturity	924,187	924,187
issued 08/11/17 at 0.60% open maturity	864,302	864,302
issued 12/21/17 at 1.05% open maturity	595,625	595,625
issued 12/07/17 open maturity	494,375	494,375
issued 11/03/17 at (1.38)% open maturity	258,125	258,125
issued 12/15/17 at 0.75% due 01/22/18	248,438	248,438
issued 12/21/17 at 1.05% open maturity	216,250	216,250
issued 09/26/17 at (1.75)% open maturity	47,000	47,000
Total Repurchase Agreements
(Cost $15,163,646)		15,163,646

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Contracts		Value
LISTED OPTIONS PURCHASED† - 0.3%
Put options on:
Eurodollar Futures Expiring December 2018 with strike price of $97.88 (Notional Value $7,067,332,738)		28,889	$	10,833,375
Eurodollar Futures Expiring December 2019 with strike price of $97.63 (Notional Value $3,513,922,425)		14,391		8,904,431
Total Put options				19,737,806
Total Listed Options Purchased
(Cost $21,359,389)				19,737,806
Total Investments - 100.1%
(Cost $6,472,046,974)			$	6,527,842,550

	Face Amount~
CORPORATE BONDS SOLD SHORT†† - (0.1)%
Sprint Corp.
7.88% due 09/15/23		200,000	(213,000	)
Herc Rentals, Inc.
7.75% due 06/01/247		200,000	(219,500	)
Envision Healthcare Corp.
5.13% due 07/01/227		250,000	(242,500	)
Monitronics International, Inc.
9.13% due 04/01/20		350,000	(290,500	)
Gogo Intermediate Holdings LLC / Gogo Finance Company, Inc.
12.50% due 07/01/227		500,000	(564,375	)
AK Steel Corp.
6.38% due 10/15/25		1,000,000	(990,000	)
INEOS Group Holdings S.A.
5.63% due 08/01/247		1,100,000	(1,146,750	)
Park-Ohio Industries, Inc.
6.63% due 04/15/27		1,400,000	(1,508,500	)
Tenet Healthcare Corp.
8.13% due 04/01/22		1,925,000	(1,958,688	)
Seagate HDD Cayman
4.75% due 01/01/25		8,000,000	(7,856,222	)
Total Corporate Bonds
(Cost $14,890,058)			(14,990,035	)

	Contracts
LISTED OPTIONS WRITTEN† - (0.1)%
Put options on:
Eurodollar Futures Expiring December 2018 with strike price of $97.75 (Notional Value $7,067,332,738)		28,889		(6,680,581	)
Total Listed Options Written
(Premiums received $4,275,572)				(6,680,581	)
Total Securities Sold Short- (0.2)%
(Proceeds $19,165,630)			$	(21,670,616	)
Other Assets & Liabilities, net - 0.1%				3,796,444
Total Net Assets - 100.0%			$	6,509,968,378

Custom Basket Swap Agreements
Counterparty	Index	Financing Rate Pay			Payment Frequency	Maturity Date	Notional Amount		Value and Unrealized Gain (Loss)
OTC Equity Swap Agreements Sold Short††
Morgan Stanley	Macro Opportunities Portfolio Short Custom Basket Swap17		1.07	%	At Maturity	07/22/19	$	175,959,229	$	(9,884,228	)
OTC Equity Swap Agreements††
Morgan Stanley	Macro Opportunities Portfolio Long Custom Basket Swap18		1.96	%	At Maturity	06/20/18		67,715,977		2,841,428

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Unrealized Gain (Loss)
CUSTOM BASKET OF LONG SECURITIES18
Intel Corp.		43,424	$	495,468
United Rentals, Inc.*		14,854		486,049
Union Pacific Corp.		21,960		484,808
Southwest Airlines Co.		46,188		372,120
FedEx Corp.		9,262		361,542
Carlisle Companies, Inc.		18,613		259,465
United Natural Foods, Inc.*		18,005		219,223
Chevron Corp.		19,261		202,945
Trinity Industries, Inc.		21,148		193,723
General Mills, Inc.		26,081		180,417
Discover Financial Services		7,836		138,340
Allison Transmission Holdings, Inc.		23,445		136,654
Marathon Petroleum Corp.		33,556		119,224
LyondellBasell Industries N.V. — Class A		13,951		98,783
T-Mobile US, Inc.*		21,725		90,426
Exxon Mobil Corp.		27,506		90,401
AECOM*		18,644		88,250
Ameren Corp.		31,987		87,283
WestRock Co.		21,701		84,636
Arconic, Inc.		37,130		78,587
Dr Pepper Snapple Group, Inc.		7,934		76,292
Molson Coors Brewing Co. — Class B		31,974		74,327
Campbell Soup Co.		53,594		73,678
AmerisourceBergen Corp. — Class A		8,576		61,552
Northern Trust Corp.		5,439		60,473
CNO Financial Group, Inc.		20,568		59,030
JetBlue Airways Corp.*		50,327		56,921
DaVita, Inc.*		9,285		54,132
Juniper Networks, Inc.		90,899		47,894
American Financial Group, Inc.		10,929		39,217
Bill Barrett Corp.*		76,389		24,764
Celgene Corp.*		13,158		18,911
Amgen, Inc.		13,993		3,083
Blackline, Inc.*		6,644		(9,173	)
Telephone & Data Systems, Inc.		66,948		(24,842	)
United Continental Holdings, Inc.*		23,919		(30,180	)
FirstEnergy Corp.		58,690		(34,914	)
Archer-Daniels-Midland Co.		65,372		(35,889	)
Versartis, Inc.*		304,452		(114,201	)
Edison International		15,011		(116,751	)
Jabil, Inc.		50,607		(198,761	)
Alaska Air Group, Inc.		25,905		(265,548	)
Owens & Minor, Inc.		26,853		(322,130	)
PG&E Corp.		46,147		(924,801	)
Total Custom Basket of Long Securities				2,841,428

CUSTOM BASKET OF SHORT SECURITIES17
Sensient Technologies Corp.	(23,073	)	189,068
NewMarket Corp.	(2,478	)	159,980
Education Realty Trust, Inc.	(27,712	)	117,224
First Republic Bank	(10,850	)	110,460
Semtech Corp.*	(17,318	)	95,249
SPS Commerce, Inc.*	(11,154	)	94,233
Essex Property Trust, Inc.	(5,439	)	92,107
FireEye, Inc.*	(37,472	)	92,050
Terreno Realty Corp.	(54,655	)	75,007
Royal Gold, Inc.	(29,683	)	74,962
CareTrust REIT, Inc.	(27,401	)	65,720
NVIDIA Corp.	(3,323	)	65,392
Hudson Pacific Properties, Inc.	(45,760	)	57,456
Capitol Federal Financial, Inc.	(76,402	)	48,166
Camden Property Trust	(21,748	)	47,850
Chesapeake Energy Corp.*	(142,490	)	42,789
Autodesk, Inc.*	(8,003	)	40,655
CoStar Group, Inc.*	(6,727	)	39,583
White Mountains Insurance Group Ltd.	(1,938	)	33,494
Extraction Oil & Gas, Inc.*	(36,359	)	24,226
Exponent, Inc.	(9,291	)	21,216
Vail Resorts, Inc.	(2,248	)	20,558
Ultimate Software Group, Inc.*	(3,092	)	19,758
National Instruments Corp.	(17,064	)	15,397
Cannae Holdings, Inc.*	(38,584	)	15,202
American International Group, Inc.	(10,178	)	10,951
Healthcare Trust of America, Inc. — Class A	(37,436	)	8,069
Equity LifeStyle Properties, Inc.	(22,847	)	5,437
Starbucks Corp.	(8,958	)	4,721
Physicians Realty Trust	(28,257	)	4,674
Aspen Insurance Holdings Ltd.	(12,341	)	4,111
Healthcare Realty Trust, Inc.	(17,536	)	3,522
Public Storage	(2,406	)	3,461
Workday, Inc. — Class A*	(4,686	)	3,227
Realty Income Corp.	(9,029	)	2,678
NiSource, Inc.	(18,743	)	2,677
Trustmark Corp.	(15,868	)	2,505
Tyler Technologies, Inc.*	(3,426	)	1,747
Martin Marietta Materials, Inc.	(7,762	)	1,023
Rexford Industrial Realty, Inc.	(38,373	)	(1,550	)
IMAX Corp.*	(35,403	)	(2,174	)
American Homes 4 Rent — Class A	(50,588	)	(6,511	)
Intuit, Inc.	(3,281	)	(6,873	)
Commerce Bancshares, Inc.	(10,144	)	(7,814	)
Macerich Co.	(7,927	)	(9,145	)
Equinix, Inc.	(1,543	)	(9,593	)
Atmos Energy Corp.	(28,305	)	(9,645	)
Kilroy Realty Corp.	(6,962	)	(10,095	)
GCP Applied Technologies, Inc.*	(17,270	)	(10,999	)
Jack in the Box, Inc.	(7,853	)	(12,800	)
MSCI, Inc. — Class A	(16,258	)	(12,909	)
Bio-Rad Laboratories, Inc. — Class A*	(3,322	)	(13,122	)
Federal Realty Investment Trust	(3,869	)	(14,009	)
First Midwest Bancorp, Inc.	(22,211	)	(15,502	)
Washington Federal, Inc.	(18,551	)	(15,654	)
Balchem Corp.	(20,258	)	(18,394	)
On Assignment, Inc.*	(8,306	)	(21,547	)
Dominion Energy, Inc.	(6,227	)	(21,984	)
Jack Henry & Associates, Inc.	(5,279	)	(23,933	)
CyrusOne, Inc.	(16,140	)	(25,999	)
Ferro Corp.*	(23,034	)	(27,072	)
Albemarle Corp.	(18,890	)	(27,293	)
EastGroup Properties, Inc.	(11,465	)	(28,763	)
athenahealth, Inc.*	(6,634	)	(29,133	)
TransUnion*	(46,888	)	(30,604	)
PennyMac Mortgage Investment Trust	(44,278	)	(34,400	)
Ecolab, Inc.	(19,444	)	(34,973	)
Boston Properties, Inc.	(7,569	)	(35,778	)
Intercontinental Exchange, Inc.	(7,654	)	(36,127	)
WR Grace & Co.	(21,879	)	(38,662	)
Douglas Emmett, Inc.	(12,608	)	(38,950	)
PriceSmart, Inc.	(8,397	)	(41,360	)
American Tower Corp. — Class A	(6,522	)	(41,936	)
SEI Investments Co.	(7,682	)	(41,992	)
Bio-Techne Corp.	(4,096	)	(42,111	)
Air Products & Chemicals, Inc.	(15,819	)	(43,795	)
Sun Communities, Inc.	(22,003	)	(44,491	)
DexCom, Inc.*	(9,662	)	(46,625	)
WD-40 Co.	(4,742	)	(46,707	)

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares			Unrealized Gain (Loss)
Regency Centers Corp.		(7,653	)	$	(52,070	)
Vulcan Materials Co.		(16,824	)		(54,094	)
Alexandria Real Estate Equities, Inc.		(6,796	)		(57,902	)
GrubHub, Inc.*		(7,899	)		(57,998	)
Yum! Brands, Inc.		(11,263	)		(58,649	)
Extra Space Storage, Inc.		(6,664	)		(60,164	)
Monolithic Power Systems, Inc.		(16,830	)		(60,204	)
First Industrial Realty Trust, Inc.		(34,866	)		(61,166	)
Healthcare Services Group, Inc.		(51,188	)		(61,272	)
Spire, Inc.		(16,910	)		(61,560	)
Glacier Bancorp, Inc.		(15,586	)		(62,092	)
Cabot Oil & Gas Corp. — Class A		(19,112	)		(68,803	)
Dril-Quip, Inc.*		(17,656	)		(69,480	)
salesforce.com, Inc.*		(5,999	)		(70,128	)
Alliant Energy Corp.		(45,241	)		(72,114	)
People's United Financial, Inc.		(69,475	)		(73,551	)
Ally Financial, Inc.		(28,932	)		(77,246	)
John Bean Technologies Corp.		(4,588	)		(78,455	)
Investors Bancorp, Inc.		(94,733	)		(84,987	)
CoreSite Realty Corp.		(9,760	)		(90,012	)
Howard Hughes Corp.*		(6,840	)		(90,794	)
Nabors Industries Ltd.		(86,642	)		(90,803	)
Carpenter Technology Corp.		(16,906	)		(92,650	)
PTC, Inc.*		(18,645	)		(93,066	)
Team, Inc.*		(51,591	)		(96,527	)
Cintas Corp.		(17,049	)		(97,696	)
Dunkin' Brands Group, Inc.		(8,869	)		(98,569	)
DCT Industrial Trust, Inc.		(27,665	)		(99,240	)
Lululemon Athletica, Inc.*		(7,780	)		(100,126	)
McDonald's Corp.		(12,799	)		(105,183	)
Ingevity Corp.*		(8,472	)		(106,662	)
CME Group, Inc. — Class A		(6,390	)		(107,754	)
Nike, Inc. — Class B		(24,160	)		(109,078	)
Weatherford International plc*		(146,348	)		(111,764	)
FactSet Research Systems, Inc.		(11,992	)		(116,867	)
MarketAxess Holdings, Inc.		(8,557	)		(119,254	)
Aqua America, Inc.		(20,337	)		(120,064	)
Shake Shack, Inc. — Class A*		(14,756	)		(120,704	)
RSP Permian, Inc.*		(23,354	)		(123,260	)
Red Hat, Inc.*		(5,923	)		(125,449	)
Tanger Factory Outlet Centers, Inc.		(75,758	)		(125,796	)
LendingTree, Inc.*		(2,060	)		(127,396	)
Atlassian Corporation plc — Class A*		(12,991	)		(127,555	)
Crown Castle International Corp.		(9,537	)		(130,600	)
Ollie's Bargain Outlet Holdings, Inc.*		(13,987	)		(134,860	)
Marriott International, Inc. — Class A		(4,147	)		(137,523	)
Verisk Analytics, Inc. — Class A*		(28,054	)		(144,834	)
Moody's Corp.		(12,387	)		(145,276	)
WisdomTree Investments, Inc.		(111,931	)		(150,301	)
S&P Global, Inc.		(12,690	)		(153,930	)
SBA Communications Corp.*		(8,641	)		(165,904	)
Callon Petroleum Co.*		(74,103	)		(167,199	)
Covanta Holding Corp.		(84,701	)		(168,436	)
Rollins, Inc.		(56,337	)		(170,229	)
Eaton Vance Corp.		(23,012	)		(171,812	)
Adobe Systems, Inc.*		(7,218	)		(180,186	)
Matador Resources Co.*		(23,786	)		(185,800	)
Commercial Metals Co.		(58,579	)		(191,489	)
Goldman Sachs Group, Inc.		(8,147	)		(191,927	)
Five Below, Inc.*		(10,145	)		(195,799	)
Trex Company, Inc.*		(5,792	)		(197,158	)
Take-Two Interactive Software, Inc.*		(6,210	)		(197,168	)
Scotts Miracle-Gro Co. — Class A		(15,170	)		(208,010	)
Compass Minerals International, Inc.		(37,270	)		(214,075	)
Pool Corp.		(9,996	)		(227,813	)
Cognex Corp.		(15,344	)		(228,898	)
Diamondback Energy, Inc.*		(11,616	)		(229,876	)
Crocs, Inc.*		(50,627	)		(245,185	)
Southern Copper Corp.		(51,471	)		(251,534	)
Allegheny Technologies, Inc.*		(42,692	)		(256,299	)
FMC Corp.		(14,827	)		(273,895	)
Cboe Global Markets, Inc.		(22,036	)		(291,352	)
Parsley Energy, Inc. — Class A*		(71,617	)		(314,993	)
International Flavors & Fragrances, Inc.		(17,135	)		(329,677	)
Copart, Inc.*		(71,115	)		(529,568	)
Total Custom Basket of Short Securities					(9,884,229	)

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS PROTECTION SOLD††
Counterparty	Exchange	Index	Protection Premium Rate		Payment Frequency	Maturity Date		Notional Amount		Value		Upfront Premiums Paid (Received)			Unrealized Gain (Loss)
Citigroup	ICE	PizzaExpress Financing 1 PLC 5% 12/20/22	5.00	%	At Maturity	12/20/22	$	200,000	$	27,483	$	(47,015	)	$	74,498
Barclays Bank plc	ICE	PizzaExpress Financing 1 PLC 5% 12/20/22	5.00	%	At Maturity	12/20/22		200,000		25,271		36,345			(11,074	)
JPMorgan Chase & Co.	ICE	PizzaExpress Financing 1 PLC 5% 12/20/22	5.00	%	At Maturity	12/20/22		300,000		41,263		(72,243	)		113,506
									$	94,017	$	(82,913	)	$	176,930

CENTRALLY CLEARED INTEREST RATE SWAP AGREEMENTS††
Counterparty	Exchange		Floating Rate Type	Floating Rate Index	Fixed Rate			Payment Frequency	Maturity Date	Notional Amount			Market Value			Value and Unrealized Gain (Loss)
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		1.90	%	Semiannually	08/11/22	$	(160,500,000	)	$	769,609		$	769,609
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		1.71	%	Semiannually	12/16/19		(20,800,000	)		138,047			138,047
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		1.59	%	Semiannually	07/02/18		(34,550,000	)		27,951			27,951
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		1.67	%	Semiannually	08/16/20		(430,000,000	)		(86,361	)		(86,361	)
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		1.99	%	Semiannually	08/22/24		(104,000,000	)		(90,298	)		(90,298	)
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.73	%	Semiannually	07/02/23		(23,800,000	)		(567,059	)		(567,059	)
																$	191,889

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS^††

Counterparty	Contracts to Sell		Currency		Settlement Date	Settlement Value		Value at December 31, 2017		Net Unrealized Appreciation/ Depreciation
Morgan Stanley		21,330,000,000		JPY	02/13/18	$	191,391,424	$	189,688,693	$	1,702,731
Goldman Sachs		381,800,000		HUF	04/11/18		1,475,213		1,483,682		(8,469	)
Bank of America		1,144,000		EUR	01/10/18		1,361,990		1,373,218		(11,228	)
Morgan Stanley		170,150,000		HUF	06/22/18		649,800		663,910		(14,110	)
Barclays		1,100,000		EUR	01/10/18		1,302,425		1,320,402		(17,977	)
Goldman Sachs		800,000,000		HUF	07/18/18		3,106,796		3,127,013		(20,217	)
Bank of America		1,040,000,000		HUF	04/25/18		4,023,833		4,044,674		(20,841	)
J.P. Morgan		2,058,000		GBP	01/02/18		2,754,674		2,778,415		(23,741	)
Bank of America		200,000,000		HUF	09/26/18		760,427		785,822		(25,395	)
Bank of America		1,372,750,000		HUF	04/11/18		5,308,391		5,334,534		(26,143	)
Goldman Sachs		4,600,000		GBP	01/30/18		6,183,867		6,216,913		(33,046	)
Goldman Sachs		3,800,000		GBP	01/29/18		5,076,618		5,135,508		(58,890	)
Goldman Sachs		3,300,000,000		HUF	02/28/18		12,715,338		12,800,407		(85,069	)
Bank of America		865,161,500		HUF	06/22/18		3,287,113		3,375,781		(88,668	)
Morgan Stanley		4,680,000		EUR	01/12/18		5,525,208		5,618,523		(93,315	)
Deutsche Bank		1,590,000,000		HUF	07/18/18		6,098,029		6,214,938		(116,909	)
Goldman Sachs		2,934,575,000		HUF	06/22/18		11,276,745		11,450,445		(173,700	)
Barclays		22,970,000		GBP	01/10/18		30,783,131		31,019,404		(236,273	)
Morgan Stanley		33,040,000		GBP	01/29/18		44,404,604		44,651,887		(247,283	)
J.P. Morgan		20,440,000		EUR	02/07/18		24,285,030		24,582,928		(297,898	)
Bank of America		2,817,100,000		HUF	02/07/18		10,592,593		10,914,153		(321,560	)
Morgan Stanley		16,295,000		EUR	03/09/18		19,282,281		19,631,264		(348,983	)
Goldman Sachs		3,000,000,000		HUF	02/14/18		11,242,271		11,627,412		(385,141	)
Goldman Sachs		6,861,920,000		HUF	04/25/18		26,096,948		26,686,761		(589,813	)
Morgan Stanley		67,310,000		EUR	01/31/18		80,289,387		80,918,972		(629,585	)
Goldman Sachs		43,060,000		EUR	01/10/18		50,936,837		51,687,757		(750,920	)
Morgan Stanley		48,201,000		EUR	01/10/18		57,022,399		57,858,837		(836,438	)
Morgan Stanley		248,500,000		DKK	03/01/18		39,361,037		40,198,954		(837,917	)
Goldman Sachs		57,240,000		GBP	01/08/18		76,396,110		77,292,544		(896,434	)
Goldman Sachs		52,587,000		EUR	01/31/18		62,249,456		63,219,225		(969,769	)
Bank of America		9,400,000,000		HUF	01/17/18		35,355,625		36,347,422		(991,797	)
Goldman Sachs		109,740,000		EUR	01/19/18		130,446,609		131,813,640		(1,367,031	)
Goldman Sachs		103,840,000		EUR	02/16/18		123,519,757		124,948,845		(1,429,088	)
										$	(10,250,917	)

~	The face amount is denominated in U.S. dollars unless otherwise indicated.
*	Non-income producing security.
†	Value determined based on Level 1 inputs, unless otherwise noted — See Note 3.
††	Value determined based on Level 2 inputs, unless otherwise noted — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	Security was fair valued by the Valuation Committee at December 31, 2017. The total market value of fair valued securities amounts to $137,486,883, (cost $140,825,999) or 2.1% of total net assets.
2	Affiliated issuer.
3	Security has no stated coupon. However, it is expected to receive residual cash flow payments on defined deal dates.
4	Zero coupon rate security.
5	Rate indicated is the 7 day yield as of December 31, 2017.
6	Variable rate security. Rate indicated is rate effective at December 31, 2017. In some instances, the underlying reference rate shown was below the minimum rate earned by the security or has been adjusted by a predetermined factor. The settlement status of a position may also impact the effective rate indicated. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
7	Security is a 144A or Section 4(a)(2) security. These securities have been determined to be liquid under guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) securities is $2,455,761,599 (cost $2,426,363,447), or 37.7% of total net assets.
8	Security is a 144A or Section 4(a)(2) security. These securities have been determined to be illiquid and restricted under guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) illiquid and restricted securities is $27,764,349 (cost $40,531,949), or 0.4% of total net assets — See Note 8.
9	Term loan interests in the Fund's portfolio generally have variable rates. All or a portion of this security represents unsettled loan positions and may not have a stated coupon rate.
10	Perpetual maturity.
11	Security has a fixed rate coupon which will convert to a floating or variable rate coupon on a future date.
12	Payment-in-kind security.
13	Security is in default of interest and/or principal obligations.
14	All or a portion of this security is pledged as reverse repurchase agreements collateral at December 31, 2017.
15	Rate indicated is the effective yield at the time of purchase.
16	Repurchase Agreements — See Note 4.
17	Total Return based on the return of the custom short basket of securities +/- financing at a variable rate. Rate indicated is rate effective at December 31, 2017.
18	Total Return based on the return of the custom long basket of securities +/- financing at a variable rate. Rate indicated is rate effective at December 31, 2017.
19	Credit Default Swaps — See Note 2.

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

plc — Public Limited Company

REIT — Real Estate Investment Trust

CME — Chicago Mercantile Exchange

LIBOR — London Interbank Offered Rate

WAC — Weighted Average Coupon

EURIBOR — European Interbank Offered Rate

CMT — Constant Maturity Treasury

DKK — Danish Krone

GPB — British Pound

EURO — Euro

HUF — Hungarian Forint

JPY — Japanese Yen

BOA — Bank of America

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)	Level 1 Quoted Prices		Level 1 - Other*		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Asset-Backed Securities	$	—	$	—	$	1,945,924,558	$	—	$	54,841,017	$	2,000,765,575
Collateralized Mortgage Obligations		—		—		832,296,944		—		95,232,486		927,529,430
Commercial Paper		—		—		13,995,917		—		—		13,995,917
Common Stocks		191,877,977		—		157,036		—		244,393		192,279,406
Corporate Bonds		—		—		589,696,232		—		47,676,580		637,372,812
Credit Default Swaps		—		—		—		188,004		—		188,004
Forward Foreign Currency Exchange Contracts		—		—		—		1,702,731		—		1,702,731
Exchange-Traded Funds		63,794,403		—		—		—		—		63,794,403
Foreign Government Bonds		—		—		999,960,908		—		6,210,054		1,006,170,962
Interest Rate Swap Agreements		—		—		—		935,607		—		935,607
Money Market Funds		126,135,249		—		—		—		—		126,135,249
Municipal Bonds		—		—		1,207,168		—		—		1,207,168
Mutual Funds		767,500,634		—		—		—		—		767,500,634
Options Purchased		19,737,806		—		—		—		—		19,737,806
Equity Swap Agreements		—		—		—		2,841,428		—		2,841,428
Preferred Stocks		—		—		17,656,360		—		38		17,656,398
Repurchase Agreements		—		—		15,163,646		—		—		15,163,646
Senior Floating Rate Interests		—		—		645,984,339		—		92,417,509		738,401,848
Warrants		—		—		131,296		—		—		131,296
Total Assets	$	1,169,046,069	$	—	$	5,062,174,404	$	5,667,770	$	296,622,077	$	6,533,510,320

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 1 - Other*		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs			Total
Credit Default Swaps	$	—	$	—	$	—	$	11,074	$	—		$	11,074
Corporate Bonds		—		—		14,990,035		—		—			14,990,035
Forward Foreign Currency Exchange Contracts		—		—		—		11,953,648		—			11,953,648
Interest Rate Swap Agreements		—		—		—		743,718		—			743,718
Options Written		6,680,581		—		—		—		—			6,680,581
Equity Swap Agreements		—		—		—		9,884,228		—			9,884,228
Unfunded Loan Commitments (Note 7)		—		—		—		—		1,506,520	**		1,506,520
Total Liabilities	$	6,680,581	$	—	$	14,990,035	$	22,592,668	$	1,506,520		$	45,758,730

* Other financial instruments include swaps and forward foreign currency exchange contracts, which are reported as unrealized gain/loss at period end.

** Security has a market value of less than $1.

The following is a summary of significant unobservable inputs used in the fair valuation of assets and liabilities categorized within Level 3 of the fair value hierarchy:

Category	Ending Balance at December 31, 2017		Valuation Technique	Unobservable Inputs	Input Range		Weighted Average
Assets:
Asset-Backed Securities	$	42,688,752	Model Price	Market Comparable Yield		6.3%	—
Asset-Backed Securities		12,152,265	Option Adjusted Spread off the prior month end broker mark over the 3 month LIBOR	Indicative Quote		—	—
Collateralized Mortgage Obligations		95,232,486	Option Adjusted Spread off the prior month end broker mark over the 3 month LIBOR	Indicative Quote		—	—
Common Stocks		244,393	Enterprise Value	Valuation Multiple		7.1x	7.1x
Corporate Bonds		44,352,625	Option Adjusted Spread off the prior month end broker mark over the 3 month LIBOR	Indicative Quote		—	—
Corporate Bonds		3,274,375	Model Price	Market Comparable Yields		8.3%-9.4%	6.7%
Corporate Bonds		49,580	Enterprise Value	Valuation Multiple		6.6x	—
Foreign Government Bonds		6,210,054	Option Adjusted Spread off the prior month end broker mark over the 3 month LIBOR	Indicative Quote		—	—
Preferred Stocks		38	Model Price	Liquidation value		—	—
Senior Floating Rate Interests		81,133,622	Yield Analysis	Yield		4.4%-9.9%	7.1x, 6.7%-7.8%
Senior Floating Rate Interests		6,553,708	Model Price	Market Comparable Yields		5.3%-5.6%	6.7%
Senior Floating Rate Interests		3,542,417	Model Price	Purchase Price		—	—
Senior Floating Rate Interests		1,187,762	Option Adjusted Spread off the prior month end broker mark over the 3 month LIBOR	Indicative Quote		—	—
Total Assets	$	296,622,077

Any remaining Level 3 securities held by the Funds and excluded from the tables above, were not considered material to the Fund.

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the year ended December 31, 2017, the Fund had securities with a total value of $15,706,855 transfer out of level 3 into level 2 and securities with a total value of $425,908 transfer out of level 2 into level 3 due to changes in the securities valuation methods based on availability of observable market inputs. There were no other securities that transferred between levels.

Summary of Fair Value Level 3 Activity

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value for the year ended December 31, 2017:

	Assets																					Liabilities
	Senior Floating Rate Interests			Asset-Backed Securities			Corporate Bonds			Common/ Preferred Stocks			Collateralized Mortgage Obligations			Foreign Government Bonds			Total Assets			Unfunded Loan Commitments
Beginning Balance	$	73,160,403		$	59,045,623		$	59,762,406		$	296,976		$	97,480,054		$	-		$	289,745,462		$	(1,610,986	)
Purchases/Receipts		-			-			-			-			-			-		$	-			-
Sales, maturities and paydowns/Fundings		-			-			-			-			-			-		$	-			-
Total realized gains or losses included in earnings		-			-			-			-			-			-		$	-			-
Total change in unrealized gains or losses included in earnings		18,831,198			(1,457,751	)		874,174			(52,545	)		(2,247,568	)		6,210,054		$	22,157,562			104,466
Transfers into Level 3		425,908			-			-			-			-			-		$	425,908			-
Transfers out of Level 3		-			(2,746,855	)		(12,960,000	)		-			-			-		$	(15,706,855	)		-
Ending Balance	$	92,417,509		$	54,841,017		$	47,676,580		$	244,431		$	95,232,486		$	6,210,054		$	296,622,077		$	(1,506,520	)*
Net Change in unrealized appreciation (depreciation) for investments in securities still held at December 31, 2017	$	(148,549	)	$	(840,011	)	$	(34,051	)	$	(51,985	)	$	83,444		$	(7	)	$	(991,159	)	$	70,460

* Security has a market value less than $1.

Macro Opportunities Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

Affiliated Transactions

Investments representing 5% or more of the outstanding voting shares of a portfolio company of a fund, or control of or by, or common control under the advisor, result in that portfolio company being considered an affiliated company of such fund, as defined in the 1940 Act.

The Fund may invest in the Guggenheim Strategy Funds Trust consisting of Guggenheim Strategy Fund I, Guggenheim Strategy Fund II, Guggenheim Strategy Fund III, and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Cash Management Funds”), open-end management investment companies managed by the advisor. The Cash Management Funds, which launched on March 11, 2014, are offered as cash management options only to mutual funds, trusts, and other accounts managed by the advisor and/or its affiliates, and are not available to the public. The Cash Management Funds pay no investment management fees. The Cash Management Funds’ annual report on Form N-CSR dated September 30, 2017, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000089180417000715/gug72218.htm.

Transactions during the period ended December 31, 2017, in which the portfolio company is an "affiliated person", were as follows:

Security Name	Value 09/30/17			Additions		Reductions			Realized Gain (Loss)		Change in Unrealized			Value 12/31/17			Shares 12/31/17		Investment Income		Capital Gain Distributions
Aspect Software, Inc.	$	1,021,935		$	-	$	(6,702	)	$	-	$	1,399		$	1,016,632			1,032,113	$	30,456	$	-
Guggenheim Alpha Opportunity Fund - Institutional Class		166,996,450			8,120,854		–			–		(339,126	)		174,778,178			5,863,072		–		8,120,854
Guggenheim Floating Rate Strategies Fund - Institutional Class		12,926,051			129,746		–			–		(15,070	)		13,040,727			501,374		129,575		–
Guggenheim Limited Duration Fund - Institutional Class		297,474,146			2,364,783		–			–		(840,827	)		298,998,102			12,066,106		2,346,027		–
Guggenheim Risk Managed Real Estate Fund - Institutional Class		15,005,412			608,715		–			–		(159,639	)		15,454,488			520,003		87,602		521,113
Guggenheim Solar ETF		15,170,155			–		–			–		2,438,436			17,608,591			700,700		311,741		–
Guggenheim Strategy Fund I		87,752,252			645,221		–			–		(175,423	)		88,222,050			3,520,433		612,029		33,357
Guggenheim Strategy Fund II		98,202,891			791,087		–			–		(196,679	)		98,797,299			3,950,312		738,814		52,555
Guggenheim Strategy Fund III		–			78,303,243		–			–		(93,453	)		78,209,790			3,125,891		280,406		19,023
Targus Group International Equity, Inc		19,586			–		(1,000	)		442		5,620			24,648			12,773		–		–
Targus Group International, Inc.		-	*		–		–			–		–			-	*		152,876		–		–
	$	694,568,878		$	90,963,649	$	(7,702	)	$	442	$	625,238		$	786,150,505				$	4,536,650	$	8,746,902

* Security has a market value less than $0.

Market Neutral Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 91.4%
REITs - 83.7%
REITs-Diversified - 18.1%
Crown Castle International Corp.		1,758	$	195,156
American Tower Corp. — Class A		1,263		180,192
Equinix, Inc.1		386		174,943
Rayonier, Inc.		3,941		124,654
Weyerhaeuser Co.		3,506		123,622
Gaming and Leisure Properties, Inc.		3,098		114,626
Cousins Properties, Inc.		12,125		112,156
Total REITs-Diversified				1,025,349
REITs-Warehouse/Industries - 12.8%
Rexford Industrial Realty, Inc.		6,804		198,405
EastGroup Properties, Inc.		2,044		180,649
Prologis, Inc.		2,795		180,305
CyrusOne, Inc.		2,821		167,934
Total REITs-Warehouse/Industries				727,293
REITs-Hotels - 7.0%
RLJ Lodging Trust		8,410		184,768
MGM Growth Properties LLC — Class A		3,797		110,683
Summit Hotel Properties, Inc.		7,035		107,143
Total REITs-Hotels				402,594
REITs-Storage - 6.6%
National Storage Affiliates Trust		8,353		227,703
Iron Mountain, Inc.		2,936		110,775
Jernigan Capital, Inc.		2,056		39,085
Total REITs-Storage				377,563
REITs-Apartments - 6.5%
Invitation Homes, Inc.		8,462		199,449
American Homes 4 Rent — Class A		7,854		171,531
Total REITs-Apartments				370,980
REITs-Office Property - 6.4%
Alexandria Real Estate Equities, Inc.		1,492		194,840
Tier REIT, Inc.		8,353		170,318
Total REITs-Office Property				365,158
REITs-Health Care - 6.3%
Sabra Health Care REIT, Inc.		7,610		142,840
Physicians Realty Trust		6,173		111,052
Healthcare Trust of America, Inc. — Class A		3,592		107,904
Total REITs-Health Care				361,796
REITs-Manufactured Homes - 5.4%
Sun Communities, Inc.		1,858		172,385
Equity LifeStyle Properties, Inc.		1,532		136,379
Total REITs-Manufactured Homes				308,764
REITs-Regional Malls - 4.5%
GGP, Inc.		7,669		179,378
Pennsylvania Real Estate Investment Trust		6,950		82,635
Total REITs-Regional Malls				262,013
REITs-Shopping Centers - 4.3%
Regency Centers Corp.		1,772		122,587
Federal Realty Investment Trust		885		117,537
Total REITs-Shopping Centers				240,124
REITs-Mortgage - 3.1%
Blackstone Mortgage Trust, Inc. — Class A		5,452		175,445
REITs-Single Tenant - 2.7%
Spirit Realty Capital, Inc.		17,656		151,488
Total REITs				4,768,567
Lodging - 7.7%
Casino Hotels - 5.8%
Caesars Entertainment Corp.*		13,751		173,950
Boyd Gaming Corp.		4,341		152,152
Total Casino Hotels				326,102
Hotels & Motels - 1.9%
Extended Stay America, Inc.		5,794		110,086
Total Lodging				436,188
Total Common Stocks
(Cost $4,658,634)				5,204,755

MONEY MARKET FUND† - 9.4%
Goldman Sachs Financial Square Treasury Instruments Fund - Institutional Class 1.14%2	535,037		535,037
Total Money Market Fund
(Cost $535,037)			535,037
Total Investments - 100.8%
(Cost $5,193,671)		$	5,739,792
Other Assets & Liabilities, net - (0.8)%			(46,177	)
Total Net Assets - 100.0%		$	5,693,615

Market Neutral Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

Total Return Swap Agreements
Counterparty	Index	Financing Rate Pay (Receive)			Payment Frequency	Maturity Date	Notional Amount		Value and Unrealized Loss
OTC Custom Basket Swap Agreements Sold Short††
Morgan Stanley	Market Neutral Real Estate Portfolio Short Custom Basket Swap3		(1.07	)%	At Maturity	07/22/19	$	5,097,942	$	(14,201	)

Market Neutral Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares			Unrealized Gain (Loss)
CUSTOM BASKET OF SHORT SECURITIES3
Colony NorthStar, Inc. — Class A		(11,441	)	$	34,679
Omega Healthcare Investors, Inc.		(4,979	)		29,238
CoreCivic, Inc.		(2,977	)		19,035
CareTrust REIT, Inc.		(7,142	)		17,770
GEO Group, Inc.		(2,774	)		17,764
VEREIT, Inc.		(23,295	)		14,307
Lexington Realty Trust		(18,507	)		11,121
Piedmont Office Realty Trust, Inc. — Class A		(7,838	)		9,012
LaSalle Hotel Properties		(5,814	)		8,864
Apartment Investment & Management Co. — Class A		(4,901	)		5,421
PS Business Parks, Inc.		(867	)		3,757
Mid-America Apartment Communities, Inc.		(1,625	)		2,890
Senior Housing Properties Trust		(10,277	)		1,148
Brixmor Property Group, Inc.		(6,885	)		689
SL Green Realty Corp.		(1,591	)		310
Public Storage		(598	)		(512	)
Liberty Property Trust		(3,960	)		(5,754	)
Weingarten Realty Investors		(4,278	)		(6,450	)
iShares U.S. Real Estate ETF		(13,946	)		(7,271	)
Chesapeake Lodging Trust		(4,767	)		(10,742	)
Macerich Co.		(1,398	)		(11,033	)
National Retail Properties, Inc.		(4,642	)		(11,316	)
Jones Lang LaSalle, Inc.		(601	)		(12,322	)
CBRE Group, Inc. — Class A*		(2,869	)		(14,541	)
Chatham Lodging Trust		(8,472	)		(21,752	)
Tanger Factory Outlet Centers, Inc.		(7,356	)		(26,239	)
Wynn Resorts Ltd.		(784	)		(28,687	)
Life Storage, Inc.		(2,342	)		(33,587	)
Total Custom Basket of Short Securities					(14,201	)

Market Neutral Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is pledged as equity index swap collateral at December 31, 2017.
2	Rate indicated is the 7 day yield as of December 31, 2017.
3	Total Return based on the return of the custom short basket of securities +/- financing at a variable rate. Rate indicated is rate effective at December 31, 2017.

REIT — Real Estate Investment Trust    

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	5,204,755	$	—	$	—	$	—	$	5,204,755
Money Market Fund		535,037		—		—		—		535,037
Total Assets	$	5,739,792	$	—	$	—	$	—	$	5,739,792

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Custom Basket Swap Agreements	$	—	$	—	$	14,201	$	—	$	14,201

* Other financial instruments include swaps, which are reported as unrealized gain/loss at period end.

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were no transfers between levels.

Mid Cap Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 99.7%
Financial - 30.0%
Zions Bancorporation		257,324	$	13,079,779
KeyCorp		593,073		11,962,282
Wintrust Financial Corp.		128,582		10,591,299
E*TRADE Financial Corp.*		171,255		8,489,111
Unum Group		152,454		8,368,200
Huntington Bancshares, Inc.		573,274		8,346,869
Radian Group, Inc.		345,826		7,127,474
Equity Commonwealth REIT*		211,651		6,457,472
Alleghany Corp.*		10,704		6,380,547
Alexandria Real Estate Equities, Inc. REIT		43,643		5,699,339
Umpqua Holdings Corp.		257,151		5,348,741
Prosperity Bancshares, Inc.		73,237		5,131,717
Howard Hughes Corp.*		37,553		4,929,582
Sun Communities, Inc. REIT		49,124		4,557,725
Cousins Properties, Inc. REIT		450,768		4,169,604
AmTrust Financial Services, Inc.		404,335		4,071,654
EastGroup Properties, Inc. REIT		42,148		3,725,040
IBERIABANK Corp.		46,833		3,629,558
National Storage Affiliates Trust REIT		127,313		3,470,552
CoreCivic, Inc. REIT		153,736		3,459,060
Lexington Realty Trust REIT		305,773		2,950,709
Camden Property Trust REIT		30,148		2,775,425
Redwood Trust, Inc. REIT		183,428		2,718,403
First Industrial Realty Trust, Inc. REIT		81,846		2,575,694
Piedmont Office Realty Trust, Inc. — Class A REIT		129,331		2,536,181
Physicians Realty Trust REIT		140,648		2,530,258
LaSalle Hotel Properties REIT		88,742		2,490,988
Customers Bancorp, Inc.*		84,893		2,206,369
Federal Agricultural Mortgage Corp. — Class C		27,313		2,136,969
Total Financial				151,916,601
Industrial - 17.5%
WestRock Co.		153,518		9,703,873
Carlisle Companies, Inc.		78,205		8,887,998
Crane Co.		84,101		7,503,491
Harris Corp.		41,737		5,912,046
Oshkosh Corp.		56,483		5,133,740
Covenant Transportation Group, Inc. — Class A*		175,048		5,029,129
Celadon Group, Inc.		754,880		4,831,232
FLIR Systems, Inc.		100,054		4,664,517
Scorpio Tankers, Inc.		1,225,835		3,738,797
Crown Holdings, Inc.*		63,890		3,593,812
Dycom Industries, Inc.*		31,470		3,506,702
Golar LNG Ltd.		112,363		3,349,541
ITT, Inc.		62,668		3,344,591
GasLog Ltd.		133,381		2,967,727
Gentex Corp.		141,289		2,960,005
Valmont Industries, Inc.		16,650		2,761,403
US Concrete, Inc.*		32,243		2,697,127
Owens-Illinois, Inc.*		105,523		2,339,445
Fabrinet*		60,659		1,740,914
TriMas Corp.*		56,886		1,521,700
Greif, Inc. — Class A		23,922		1,449,195
Kirby Corp.*		19,570		1,307,276
Total Industrial				88,944,261
Consumer, Cyclical - 13.2%
DR Horton, Inc.		189,635		9,684,659
PVH Corp.		62,095		8,520,055
UniFirst Corp.		46,450		7,659,605
American Eagle Outfitters, Inc.		320,103		6,017,936
Goodyear Tire & Rubber Co.		128,617		4,155,615
CalAtlantic Group, Inc.		71,469		4,030,137
Caleres, Inc.		114,701		3,840,190
Deckers Outdoor Corp.*		46,980		3,770,145
GMS, Inc.*		84,945		3,197,330
PACCAR, Inc.		40,635		2,888,336
JetBlue Airways Corp.*		126,845		2,833,717
Asbury Automotive Group, Inc.*		41,060		2,627,840
Penske Automotive Group, Inc.		54,078		2,587,632
Unifi, Inc.*		66,241		2,376,065
Movado Group, Inc.		41,451		1,334,722
Alaska Air Group, Inc.		15,883		1,167,560
Total Consumer, Cyclical				66,691,544
Utilities - 10.3%
OGE Energy Corp.		232,818		7,662,040
Ameren Corp.		113,039		6,668,171
Portland General Electric Co.		124,750		5,686,105
Pinnacle West Capital Corp.		59,980		5,109,096
Avista Corp.		98,820		5,088,242
Black Hills Corp.		75,090		4,513,660
Calpine Corp.*		278,143		4,208,303
UGI Corp.		88,586		4,159,113
AES Corp.		349,829		3,788,648
ONE Gas, Inc.		43,958		3,220,363
SCANA Corp.		58,015		2,307,837
Total Utilities				52,411,578
Consumer, Non-cyclical - 9.4%
Emergent BioSolutions, Inc.*		155,442		7,223,390
Hormel Foods Corp.		143,383		5,217,707
Myriad Genetics, Inc.*		113,534		3,899,325
Ingredion, Inc.		27,459		3,838,768
Dermira, Inc.*		130,509		3,629,455
Premier, Inc. — Class A*		124,090		3,622,187
Bunge Ltd.		53,930		3,617,624
HealthSouth Corp.		64,208		3,172,517
Eagle Pharmaceuticals, Inc.*		52,957		2,828,963
Perrigo Company plc		30,037		2,618,025
SP Plus Corp.*		65,325		2,423,558
Fresh Del Monte Produce, Inc.		48,817		2,327,107
ACCO Brands Corp.*		137,976		1,683,307
Quest Diagnostics, Inc.		13,575		1,337,002
Total Consumer, Non-cyclical				47,438,935
Energy - 7.3%
Rowan Companies plc — Class A*		448,805		7,028,286
Marathon Oil Corp.		339,473		5,747,278
Range Resources Corp.		277,596		4,735,788
Whiting Petroleum Corp.*		176,404		4,671,178
Andeavor		36,248		4,144,596
Oasis Petroleum, Inc.*		404,334		3,400,449
Hess Corp.		59,710		2,834,434
WildHorse Resource Development Corp.*		105,589		1,943,893
MRC Global, Inc.*		81,949		1,386,577
Gulfport Energy Corp.*		90,204		1,151,003
Total Energy				37,043,482

Mid Cap Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 99.7% (continued)
Technology - 5.2%
Cray, Inc.*		211,248	$	5,112,202
CSRA, Inc.		164,143		4,911,158
Qorvo, Inc.*		62,174		4,140,788
Conduent, Inc.*		233,622		3,775,331
Maxwell Technologies, Inc.*		578,897		3,334,447
Cirrus Logic, Inc.*		48,704		2,525,790
Super Micro Computer, Inc.*		116,497		2,437,700
Total Technology				26,237,416
Basic Materials - 3.5%
Reliance Steel & Aluminum Co.		68,300		5,859,457
Nucor Corp.		90,486		5,753,100
Westlake Chemical Corp.		46,660		4,970,690
Tahoe Resources, Inc.		277,920		1,331,236
Total Basic Materials				17,914,483
Communications - 3.3%
Ciena Corp.*		234,293		4,903,753
Finisar Corp.*		204,886		4,169,430
Infinera Corp.*		583,258		3,692,023
Viavi Solutions, Inc.*		347,381		3,036,110
Oclaro, Inc.*		159,958		1,078,117
Total Communications				16,879,433
Total Common Stocks
(Cost $415,230,372)				505,477,733

CONVERTIBLE PREFERRED STOCKS††† - 0.0%
Thermoenergy Corp.*,1,2	858,334	3
Total Convertible Preferred Stocks
(Cost $819,654)		3

MONEY MARKET FUND† - 0.1%
Dreyfus Treasury Prime Cash Management Institutional Shares 1.11%3	460,358		460,358
Total Money Market Fund
(Cost $460,358)			460,358
Total Investments - 99.8%
(Cost $416,510,384)		$	505,938,094
Other Assets & Liabilities, net - 0.2%			898,910
Total Net Assets - 100.0%		$	506,837,004

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	Security was fair valued by the Valuation Committee at December 31, 2017. The total market value of fair valued securities amounts to $3, (cost $819,654) or 0.0% of total net assets.
2	PIPE (Private Investment in Public Equity) - Stock issued by a company in the secondary market as a means of raising capital more quickly and less expensively than through registration of a secondary public offering.
3	Rate indicated is the 7 day yield as of December 31, 2017.

plc — Public Limited Company

REIT — Real Estate Investment Trust    

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	505,477,733	$	—	$	—	$	505,477,733
Convertible Preferred Stocks		—		—		3		3
Money Market Fund		460,358		—		—		460,358
Total Assets	$	505,938,091	$	—	$	3	$	505,938,094

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were no transfers between levels.

Mid Cap Value Institutional Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 94.9%
Financial - 28.4%
Zions Bancorporation		38,722	$	1,968,239
KeyCorp		91,204		1,839,585
Wintrust Financial Corp.		19,049		1,569,066
Huntington Bancshares, Inc.		87,937		1,280,363
E*TRADE Financial Corp.*		25,635		1,270,727
Unum Group		22,975		1,261,098
Radian Group, Inc.		51,799		1,067,577
Equity Commonwealth REIT*		32,592		994,382
Alleghany Corp.*		1,650		983,549
Alexandria Real Estate Equities, Inc. REIT		6,753		881,874
Umpqua Holdings Corp.		39,513		821,871
Prosperity Bancshares, Inc.		11,276		790,109
Howard Hughes Corp.*		5,682		745,876
Sun Communities, Inc. REIT		7,237		671,449
Cousins Properties, Inc. REIT		70,085		648,286
AmTrust Financial Services, Inc.		62,543		629,808
EastGroup Properties, Inc. REIT		6,505		574,912
IBERIABANK Corp.		7,012		543,430
National Storage Affiliates Trust REIT		19,644		535,495
CoreCivic, Inc. REIT		23,715		533,588
Lexington Realty Trust REIT		44,877		433,063
Camden Property Trust REIT		4,454		410,035
Redwood Trust, Inc. REIT		26,756		396,524
First Industrial Realty Trust, Inc. REIT		12,568		395,515
Physicians Realty Trust REIT		21,478		386,389
LaSalle Hotel Properties REIT		13,698		384,503
Piedmont Office Realty Trust, Inc. — Class A REIT		19,457		381,552
Customers Bancorp, Inc.*		12,888		334,959
Federal Agricultural Mortgage Corp. — Class C		4,044		316,402
Total Financial				23,050,226
Industrial - 16.7%
WestRock Co.		23,589		1,491,061
Carlisle Companies, Inc.		11,935		1,356,413
Crane Co.		12,863		1,147,637
Harris Corp.		6,403		906,985
Covenant Transportation Group, Inc. — Class A*		26,947		774,187
Oshkosh Corp.		8,475		770,293
Celadon Group, Inc.		111,054		710,746
FLIR Systems, Inc.		14,773		688,717
Scorpio Tankers, Inc.		185,286		565,122
Dycom Industries, Inc.*		4,997		556,816
Crown Holdings, Inc.*		9,817		552,206
Golar LNG Ltd.		17,254		514,342
ITT, Inc.		9,321		497,462
GasLog Ltd.		20,234		450,207
Gentex Corp.		21,174		443,595
Valmont Industries, Inc.		2,578		427,561
US Concrete, Inc.*		4,831		404,113
Owens-Illinois, Inc.*		16,287		361,083
Fabrinet*		9,748		279,767
TriMas Corp.*		8,837		236,390
Greif, Inc. — Class A		3,704		224,388
Kirby Corp.*		3,008		200,934
Total Industrial				13,560,025
Consumer, Cyclical - 12.6%
DR Horton, Inc.		29,643		1,513,868
PVH Corp.		9,507		1,304,456
UniFirst Corp.		7,184		1,184,642
American Eagle Outfitters, Inc.		49,564		931,803
CalAtlantic Group, Inc.		11,757		662,977
Goodyear Tire & Rubber Co.		19,646		634,762
Caleres, Inc.		18,143		607,428
Deckers Outdoor Corp.*		6,898		553,564
GMS, Inc.*		12,696		477,878
PACCAR, Inc.		6,011		427,262
JetBlue Airways Corp.*		18,361		410,185
Asbury Automotive Group, Inc.*		6,320		404,480
Penske Automotive Group, Inc.		8,324		398,303
Unifi, Inc.*		10,180		365,157
Movado Group, Inc.		6,397		205,983
Alaska Air Group, Inc.		2,440		179,364
Total Consumer, Cyclical				10,262,112
Utilities - 9.8%
OGE Energy Corp.		35,293		1,161,493
Ameren Corp.		16,990		1,002,240
Avista Corp.		17,721		912,454
Portland General Electric Co.		18,579		846,831
Pinnacle West Capital Corp.		9,014		767,812
Black Hills Corp.		11,069		665,358
UGI Corp.		13,284		623,684
Calpine Corp.*		39,800		602,174
AES Corp.		52,601		569,669
ONE Gas, Inc.		6,598		483,369
SCANA Corp.		8,970		356,827
Total Utilities				7,991,911
Consumer, Non-cyclical - 8.9%
Emergent BioSolutions, Inc.*		23,883		1,109,843
Hormel Foods Corp.		21,488		781,948
Myriad Genetics, Inc.*		17,361		596,263
Ingredion, Inc.		4,238		592,472
Dermira, Inc.*		20,137		560,010
Bunge Ltd.		8,286		555,825
Premier, Inc. — Class A*		18,202		531,316
HealthSouth Corp.		9,453		467,073
Eagle Pharmaceuticals, Inc.*		8,066		430,886
Perrigo Company plc		4,617		402,418
SP Plus Corp.*		10,077		373,857
Fresh Del Monte Produce, Inc.		7,343		350,041
ACCO Brands Corp.*		21,595		263,459
Quest Diagnostics, Inc.		2,086		205,450
Total Consumer, Non-cyclical				7,220,861
Energy - 7.0%
Rowan Companies plc — Class A*		68,428		1,071,582
Marathon Oil Corp.		52,365		886,539
Range Resources Corp.		42,924		732,283
Whiting Petroleum Corp.*		26,101		691,155
Andeavor		5,571		636,988
Oasis Petroleum, Inc.*		60,316		507,258
Hess Corp.		9,104		432,167
WildHorse Resource Development Corp.*		16,455		302,937
MRC Global, Inc.*		11,351		192,059
Gulfport Energy Corp.*		14,537		185,492
HydroGen Corp.*,†††,1		1,265,700		1
Total Energy				5,638,461

Mid Cap Value Institutional Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 94.9% (continued)
Technology - 4.9%
Cray, Inc.*		31,901	$	772,004
CSRA, Inc.		24,642		737,289
Qorvo, Inc.*		9,511		633,433
Conduent, Inc.*		35,676		576,524
Maxwell Technologies, Inc.*		88,957		512,392
Cirrus Logic, Inc.*		7,478		387,809
Super Micro Computer, Inc.*		18,022		377,110
Total Technology				3,996,561
Basic Materials - 3.4%
Reliance Steel & Aluminum Co.		10,464		897,707
Nucor Corp.		13,911		884,461
Westlake Chemical Corp.		7,041		750,078
Tahoe Resources, Inc.		42,830		205,156
Total Basic Materials				2,737,402
Communications - 3.2%
Ciena Corp.*		35,707		747,347
Finisar Corp.*		31,667		644,423
Infinera Corp.*		89,990		569,637
Viavi Solutions, Inc.*		52,051		454,926
Oclaro, Inc.*		24,844		167,449
Total Communications				2,583,782
Total Common Stocks
(Cost $64,653,472)				77,041,341

CONVERTIBLE PREFERRED STOCKS††† - 0.0%
Thermoenergy Corp.*,2,3	793,750	3
Total Convertible Preferred Stocks
(Cost $757,981)		3

MONEY MARKET FUND† - 5.1%
Dreyfus Treasury Prime Cash Management Institutional Shares 1.11%4	4,169,428		4,169,428
Total Money Market Fund
(Cost $4,169,428)			4,169,428
Total Investments - 100.0%
(Cost $69,580,881)		$	81,210,772
Other Assets & Liabilities, net - 0.0%			(32,269	)
Total Net Assets - 100.0%		$	81,178,503

*	Non-income producing security.
†	Value determined based on Level 1 inputs, unless otherwise noted — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	Affiliated issuer.
2	Security was fair valued by the Valuation Committee at December 31, 2017. The total market value of fair valued securities amounts to $3, (cost $757,981) or 0.0% of total net assets.
3	PIPE (Private Investment in Public Equity) - Stock issued by a company in the secondary market as a means of raising capital more quickly and less expensively than through registration of a secondary public offering.
4	Rate indicated is the 7 day yield as of December 31, 2017.

plc — Public Limited Company

REIT — Real Estate Investment Trust    

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	77,041,340	$	—	$	1	$	77,041,341
Convertible Preferred Stocks		—		—		3		3
Money Market Fund		4,169,428		—		—		4,169,428
Total Assets	$	81,210,768	$	—	$	4	$	81,210,772

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were no transfers between levels.

Mid Cap Value Institutional Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

Affiliated Transactions

Investments representing 5% or more of the outstanding voting shares of a portfolio company of a fund, or control of or by, or common control under the GI, result in that portfolio company being considered an affiliated company of such fund, as defined in the 1940 Act.

Transactions during the period ended December 31, 2017, in which the portfolio company is an "affiliated person", were as follows:

Security Name	Value 09/30/17		Additions		Reductions		Realized Gain		Change in Unrealized		Value 12/31/17		Shares 12/31/17		Investment Income		Capital Gain Distributions
HydroGen Corp.	$	1	$	—	$	—	$	—	$	—	$	1		1,265,700	$	—	$	—

Municipal Income Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
MONEY MARKET FUND† - 2.3%
Dreyfus AMT-Free Tax Exempt Cash Management Fund - Institutional Class 1.27%1		1,184,994	$	1,184,994
Total Money Market Fund
(Cost $1,184,994)				1,184,994

	Face Amount
MUNICIPAL BONDS†† - 97.0%
California - 16.5%
Stockton Public Financing Authority Revenue Bonds
6.25% due 10/01/38	$	1,000,000	1,211,380
6.25% due 10/01/40		250,000	301,053
Tustin Unified School District General Obligation Unlimited
6.00% due 08/01/21		1,000,000	1,151,640
College of the Sequoias Tulare Area Improvement District No. 3 General Obligation Unlimited
6.85% due 08/01/422		1,000,000	680,860
State of California General Obligation Unlimited
5.00% due 03/01/26		500,000	604,050
Newport Mesa Unified School District General Obligation Unlimited
due 08/01/393		1,300,000	582,855
Sacramento Municipal Utility District Revenue Bonds
5.00% due 08/15/37		500,000	575,005
Los Angeles Department of Water & Power System Revenue Bonds
5.00% due 07/01/43		500,000	561,650
Kings Canyon Unified School District General Obligation Unlimited
5.00% due 08/01/28		445,000	530,840
San Diego Unified School District General Obligation Unlimited
due 07/01/393		1,000,000	435,290
Riverside County Public Financing Authority Tax Allocation
5.00% due 10/01/28		300,000	367,404
Oakland Unified School District/Alameda County General Obligation Unlimited
5.00% due 08/01/22		300,000	328,263
M-S-R Energy Authority Revenue Bonds
6.13% due 11/01/29		200,000	256,762
Riverside County Redevelopment Successor Agency Tax Allocation
due 10/01/372,3		250,000	235,480
Alameda Corridor Transportation Authority Revenue Bonds
5.00% due 10/01/35		200,000	234,926
Stanton Redevelopment Agency Tax Allocation
5.00% due 12/01/40		180,000	209,954
Culver Redevelopment Agency Successor Agency Tax Allocation
due 11/01/233		195,000	161,230
Total California			8,428,642
Texas - 11.3%
North Texas Tollway Authority Revenue Bonds
5.75% due 01/01/18		1,470,000	1,470,000
due 01/01/363		1,000,000	552,940
Dallas Area Rapid Transit Revenue Bonds
5.00% due 12/01/35		500,000	587,250
5.00% due 12/01/41		200,000	233,340
Texas Tech University Revenue Bonds
5.00% due 08/15/32		500,000	552,075
Birdville Independent School District General Obligation Unlimited
5.00% due 02/15/27		305,000	364,960
Clint Independent School District General Obligation Unlimited
5.00% due 08/15/31		300,000	354,681
State of Texas General Obligation Unlimited
5.00% due 10/01/29		250,000	302,158
Texas Municipal Gas Acquisition & Supply Corporation I Revenue Bonds
6.25% due 12/15/26		200,000	240,256
Central Texas Regional Mobility Authority Revenue Bonds
5.00% due 01/01/27		200,000	236,186
Texas Water Development Board Revenue Bonds
5.00% due 10/15/46		200,000	235,748
Central Texas Turnpike System Revenue Bonds
5.00% due 08/15/34		200,000	226,402
Arlington Higher Education Finance Corp. Revenue Bonds
5.00% due 12/01/46		200,000	217,518
Harris County-Houston Sports Authority Revenue Bonds
due 11/15/533		1,000,000	195,810
Total Texas			5,769,324
Michigan - 8.7%
Detroit Wayne County Stadium Authority Revenue Bonds
5.00% due 10/01/26		1,490,000	1,627,005
Detroit City School District General Obligation Unlimited
5.00% due 05/01/32		1,000,000	1,104,940
5.00% due 05/01/30		300,000	332,523

Municipal Income Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount		Value
MUNICIPAL BONDS†† - 97.0% (continued)
Michigan - 8.7% (continued)
City of Detroit Michigan Sewage Disposal System Revenue Bonds
1.49% (3 Month USD LIBOR + 60 bps) due 07/01/324	$	1,000,000	$	935,640
City of Detroit Michigan Water Supply System Revenue Bonds
4.75% due 07/01/29		230,000		234,025
5.00% due 07/01/41		200,000		213,656
Total Michigan				4,447,789
New York - 7.9%
New York City Water & Sewer System Revenue Bonds
1.73% (VRDN + 0 bps) due 06/15/484		700,000		700,000
5.00% due 06/15/39		500,000		583,370
New York State Dormitory Authority Revenue Bonds
5.00% due 10/01/41		350,000		383,047
5.00% due 12/01/275		200,000		230,630
New York City Transitional Finance Authority Future Tax Secured Revenue Bonds
5.00% due 11/01/29		500,000		599,755
City of New York New York General Obligation Unlimited
5.00% due 08/01/28		500,000		597,990
New York Transportation Development Corp. Revenue Bonds
5.00% due 07/01/34		200,000		221,826
5.00% due 08/01/26		200,000		215,018
New York State Urban Development Corp. Revenue Bonds
5.00% due 03/15/35		250,000		286,920
Westchester County Healthcare Corp. Revenue Bonds
5.00% due 11/01/44		197,000		215,683
Total New York				4,034,239
Illinois - 6.7%
Southern Illinois University Revenue Bonds
5.00% due 04/01/32		1,000,000		1,036,200
Will County Township High School District No. 204 Joliet General Obligation Ltd.
6.25% due 01/01/31		500,000		562,555
City of Chicago Illinois Wastewater Transmission Revenue Bonds
5.25% due 01/01/42		400,000		467,056
Chicago O'Hare International Airport Revenue Bonds
5.00% due 01/01/34		300,000		343,710
Chicago Board of Education General Obligation Unlimited
5.25% due 12/01/26		320,000		322,778
Metropolitan Water Reclamation District of Greater Chicago General Obligation Unlimited
5.00% due 12/01/25		200,000		239,652
University of Illinois Revenue Bonds
6.00% due 10/01/29		200,000		234,196
Metropolitan Pier & Exposition Authority Revenue Bonds
0.00% due 06/15/453		500,000		163,230
City of Chicago Illinois General Obligation Unlimited
5.00% due 01/01/23		70,000		70,099
5.00% due 01/01/22		5,000		5,012
Total Illinois				3,444,488
Pennsylvania - 6.1%
Pennsylvania Economic Development Financing Authority Revenue Bonds
5.00% due 03/15/31		500,000		589,040
5.00% due 02/01/27		500,000		584,860
Pennsylvania Turnpike Commission Revenue Bonds
2.98% (SIFMA Municipal Swap Index + 127 bps) due 12/01/204		500,000		509,645
2.68% (SIFMA Municipal Swap Index + 98 bps) due 12/01/214		500,000		508,780
Pittsburgh Water & Sewer Authority Revenue Bonds
5.25% due 09/01/36		500,000		573,000
Reading School District General Obligation Unlimited
5.00% due 02/01/27		300,000		349,851
Total Pennsylvania				3,115,176
New Jersey - 4.5%
Hudson County Improvement Authority Revenue Bonds
6.00% due 01/01/40		1,000,000		1,080,280
New Jersey Health Care Facilities Financing Authority Revenue Bonds
5.00% due 07/01/41		300,000		331,890
5.00% due 07/01/36		200,000		222,812
New Jersey Turnpike Authority Revenue Bonds
5.00% due 01/01/31		300,000		363,600
New Jersey Economic Development Authority Revenue Bonds
5.00% due 06/01/28		250,000		296,357
Total New Jersey				2,294,939
Puerto Rico - 4.0%
Puerto Rico Electric Power Authority Revenue Bonds
1.41% (3 Month USD LIBOR + 52 bps) due 07/01/294		1,845,000		1,533,656

Municipal Income Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount		Value
MUNICIPAL BONDS†† - 97.0% (continued)
Puerto Rico - 4.0% (continued)
Puerto Rico Highway & Transportation Authority Revenue Bonds
5.25% due 07/01/41	$	250,000	$	276,543
Puerto Rico Public Buildings Authority Revenue Bonds
6.00% due 07/01/23		250,000		251,758
Total Puerto Rico				2,061,957
Washington - 3.7%
Greater Wenatchee Regional Events Center Public Facilities District Revenue Bonds
5.00% due 09/01/27		500,000		518,030
5.25% due 09/01/32		500,000		516,640
King County School District No. 409 Tahoma General Obligation Unlimited
5.00% due 12/01/27		325,000		393,364
Central Puget Sound Regional Transit Authority Revenue Bonds
5.00% due 11/01/41		200,000		236,944
State of Washington General Obligation Unlimited
5.00% due 06/01/41		195,000		213,788
Total Washington				1,878,766
District of Columbia - 2.8%
District of Columbia General Obligation Unlimited
5.00% due 06/01/41		285,000		335,428
5.00% due 06/01/32		275,000		320,444
5.00% due 06/01/31		175,000		212,086
District of Columbia Water & Sewer Authority Revenue Bonds
5.00% due 10/01/45		500,000		582,900
Total District of Columbia				1,450,858
Louisiana - 2.5%
Louisiana Local Government Environmental Facilities & Community Development Authority Revenue Bonds
5.00% due 10/01/37		500,000		573,465
5.00% due 10/01/26		150,000		181,249
City of Shreveport Louisiana Water & Sewer Revenue Bonds
5.00% due 12/01/35		250,000		296,833
Louisiana Public Facilities Authority Revenue Bonds
5.00% due 07/01/39		200,000		226,848
Total Louisiana				1,278,395
Florida - 2.5%
School Board of Miami-Dade County Certificate Of Participation
5.00% due 05/01/27		500,000		590,545
Miami Beach Redevelopment Agency Tax Allocation
5.00% due 02/01/40		300,000		344,775
City of Jacksonville Florida Revenue Bonds
5.00% due 10/01/29		300,000		335,628
Total Florida				1,270,948
Massachusetts - 2.2%
Massachusetts Development Finance Agency Revenue Bonds
6.88% due 01/01/21		600,000		687,246
6.88% due 01/01/41		400,000		459,300
Total Massachusetts				1,146,546
Colorado - 2.0%
University of Colorado Revenue Bonds
5.00% due 06/01/22		285,000		323,225
5.00% due 06/01/41		200,000		235,388
Auraria Higher Education Center Revenue Bonds
5.00% due 04/01/28		390,000		461,311
Total Colorado				1,019,924
North Carolina - 1.9%
North Carolina Turnpike Authority Revenue Bonds
5.00% due 01/01/27		800,000		965,216
West Virginia - 1.7%
West Virginia Higher Education Policy Commission Revenue Bonds
5.00% due 04/01/29		500,000		554,920
West Virginia Hospital Finance Authority Revenue Bonds
5.00% due 06/01/42		300,000		340,749
Total West Virginia				895,669
Arizona - 1.6%
Arizona State University Revenue Bonds
5.00% due 07/01/34		500,000		586,435
Salt Verde Financial Corp. Revenue Bonds
5.00% due 12/01/32		200,000		244,554
Total Arizona				830,989
Georgia - 1.6%
City of Atlanta Georgia Water & Wastewater Revenue Bonds
5.00% due 11/01/40		500,000		582,115
Savannah Economic Development Authority Revenue Bonds
5.00% due 12/01/28		200,000		238,692
Total Georgia				820,807
Ohio - 1.6%
University of Cincinnati Revenue Bonds
5.00% due 06/01/36		500,000		582,670

Municipal Income Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount		Value
MUNICIPAL BONDS†† - 97.0% (continued)
Ohio - 1.6% (continued)
American Municipal Power, Inc. Revenue Bonds
5.00% due 02/15/41		200,000	$	229,552
Total Ohio				812,222
Mississippi - 1.6%
Mississippi Development Bank Revenue Bonds
6.50% due 10/01/31		500,000		545,940
6.25% due 10/01/26		230,000		252,172
Total Mississippi				798,112
Virginia - 1.3%
County of Fairfax Virginia General Obligation Unlimited
5.00% due 10/01/32		300,000		362,256
Virginia College Building Authority Revenue Bonds
5.00% due 02/01/25		250,000		299,630
Total Virginia				661,886
Maryland - 1.0%
Maryland State Transportation Authority Revenue Bonds
5.00% due 07/01/35		500,000		508,440
Indiana - 0.9%
Indiana Finance Authority Revenue Bonds
5.50% due 04/01/24		400,000		454,344
Kentucky - 0.8%
Kentucky Economic Development Finance Authority Revenue Bonds
5.00% due 07/01/37		200,000		219,424
City of Ashland Kentucky Revenue Bonds
5.00% due 02/01/22		200,000		210,350
Total Kentucky				429,774
South Carolina - 0.7%
Anderson County School District No. 5 General Obligation Unlimited
5.00% due 03/01/27		300,000		364,179
Nevada - 0.5%
Las Vegas Valley Water District General Obligation Ltd.
5.00% due 06/01/27		230,000		275,726
Vermont - 0.4%
Vermont Educational & Health Buildings Financing Agency Revenue Bonds
5.00% due 12/01/46		200,000		226,674
Total Municipal Bonds
(Cost $48,033,327)				49,686,029
Total Investments - 99.3%
(Cost $49,218,321)			$	50,871,023
Other Assets & Liabilities, net - 0.7%				356,958
Total Net Assets - 100.0%			$	51,227,981

†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Rate indicated is the 7 day yield as of December 31, 2017.
2	Security is a step up/step down bond. The coupon increases or decreases at regular intervals until the bond reaches full maturity.
3	Zero coupon rate security.
4	Variable rate security. Rate indicated is rate effective at December 31, 2017. In some instances, the underlying reference rate shown was below the minimum rate earned by the security or has been adjusted by a predetermined factor. The settlement status of a position may also impact the effective rate indicated. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
5	Security is a 144A or Section 4(a)(2) security. These securities have been determined to be liquid under guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) securities is $230,630 (cost $218,012), or 0.5% of total net assets.

LIBOR — London Interbank Offered Rate

SIFMA — Securities Industry and Financial Markets Association

VRDN — Variable Rate Demand Note    

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):

Municipal Income Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Money Market Fund	$	1,184,994	$	—	$	—	$	1,184,994
Municipal Bonds		—		49,686,029		—		49,686,029
Total Assets	$	1,184,994	$	49,686,029	$	—	$	50,871,023

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were no transfers between levels.

Risk Managed Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 96.2%
REITs - 92.0%
REITs-Diversified - 18.0%
Equinix, Inc.		16,759	$	7,595,514
Digital Realty Trust, Inc.		28,132		3,204,235
Gaming and Leisure Properties, Inc.		79,359		2,936,283
American Tower Corp. — Class A		17,068		2,435,092
Crown Castle International Corp.		21,368		2,372,062
Cousins Properties, Inc.		220,278		2,037,571
Vornado Realty Trust		21,073		1,647,487
Duke Realty Corp.		53,892		1,466,401
Rayonier, Inc.		42,419		1,341,713
Weyerhaeuser Co.		37,395		1,318,548
Total REITs-Diversified				26,354,906
REITs-Apartments - 11.8%
Equity Residential		61,884		3,946,343
Invitation Homes, Inc.		155,624		3,668,058
AvalonBay Communities, Inc.		20,117		3,589,074
American Homes 4 Rent — Class A		113,844		2,486,353
Essex Property Trust, Inc.		8,350		2,015,440
Camden Property Trust		17,414		1,603,133
Total REITs-Apartments				17,308,401
REITs-Warehouse/Industries - 11.8%
Prologis, Inc.		120,162		7,751,651
CyrusOne, Inc.		49,780		2,963,403
Rexford Industrial Realty, Inc.		94,391		2,752,442
EastGroup Properties, Inc.		29,106		2,572,388
Gramercy Property Trust		46,332		1,235,211
Total REITs-Warehouse/Industries				17,275,095
REITs-Office Property - 9.6%
Alexandria Real Estate Equities, Inc.		29,494		3,851,621
Boston Properties, Inc.		20,264		2,634,928
Tier REIT, Inc.		97,399		1,985,966
Highwoods Properties, Inc.		36,469		1,856,637
Douglas Emmett, Inc.		29,755		1,221,740
Kilroy Realty Corp.		13,774		1,028,229
Hudson Pacific Properties, Inc.		23,210		794,943
SL Green Realty Corp.		6,703		676,534
Total REITs-Office Property				14,050,598
REITs-Health Care - 9.2%
Healthcare Trust of America, Inc. — Class A		96,346		2,894,234
Welltower, Inc.		45,203		2,882,595
Physicians Realty Trust		142,202		2,558,214
Ventas, Inc.		42,272		2,536,743
Sabra Health Care REIT, Inc.		88,599		1,663,003
HCP, Inc.		37,081		967,072
Total REITs-Health Care				13,501,861
REITs-Regional Malls - 7.8%
Simon Property Group, Inc.		45,542		7,821,383
GGP, Inc.		114,049		2,667,606
Pennsylvania Real Estate Investment Trust		88,343		1,050,398
Total REITs-Regional Malls				11,539,387
REITs-Storage - 6.1%
Public Storage		13,524		2,826,516
National Storage Affiliates Trust		88,766		2,419,761
Iron Mountain, Inc.		59,106		2,230,069
Jernigan Capital, Inc.		43,513		827,182
Extra Space Storage, Inc.		9,267		810,399
Total REITs-Storage				9,113,927
REITs-Shopping Centers - 5.0%
Regency Centers Corp.		43,975		3,042,191
Federal Realty Investment Trust		21,708		2,883,039
Retail Opportunity Investments Corp.		68,698		1,370,525
Total REITs-Shopping Centers				7,295,755
REITs-Manufactured Homes - 4.4%
Sun Communities, Inc.		39,285		3,644,862
Equity LifeStyle Properties, Inc.		31,582		2,811,430
Total REITs-Manufactured Homes				6,456,292
REITs-Hotels - 3.9%
Summit Hotel Properties, Inc.		122,663		1,868,157
MGM Growth Properties LLC — Class A		61,415		1,790,247
Host Hotels & Resorts, Inc.		43,351		860,517
Apple Hospitality REIT, Inc.		30,562		599,321
RLJ Lodging Trust		24,940		547,932
Total REITs-Hotels				5,666,174
REITs-Single Tenant - 3.0%
Realty Income Corp.		40,809		2,326,929
Spirit Realty Capital, Inc.		235,865		2,023,722
Total REITs-Single Tenant				4,350,651
REITs-Mortgage - 1.4%
Blackstone Mortgage Trust, Inc. — Class A		65,115		2,095,401
Total REITs				135,008,448
Lodging - 4.2%
Casino Hotels - 2.9%
Caesars Entertainment Corp.*		192,240		2,431,836
Boyd Gaming Corp.		52,044		1,824,142
Total Casino Hotels				4,255,978
Hotels & Motels - 1.3%
Extended Stay America, Inc.		99,953		1,899,107
Total Lodging				6,155,085
Total Common Stocks
(Cost $132,573,842)				141,163,533

MONEY MARKET FUND† - 4.4%
Dreyfus Treasury Securities Cash Management Fund – Institutional Class 1.11%1	6,489,434		6,489,434
Total Money Market Fund
(Cost $6,489,434)			6,489,434
Total Investments - 100.6%
(Cost $139,063,276)		$	147,652,967

Risk Managed Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares			Value
COMMON STOCKS SOLD SHORT† - (7.4)%
Lodging – (0.3%)
Casino Hotels - (0.3%)
Wynn Resorts Ltd.		(2,264	)	$	(381,687	)
Real Estate – (0.4%)
Real Estate Management/Services – (0.4)%
Jones Lang LaSalle, Inc.		(1,789	)		(266,436	)
CBRE Group, Inc. — Class A*		(8,526	)		(369,261	)
Total Real Estate Management/Services					(635,697	)
Total Real Estate					(635,697	)
REITs – (6.7%)
REITs-Warehouse/Industries – (0.3)%
Liberty Property Trust		(11,594	)		(498,658	)
REITs-Single Tenant – (0.4)%
National Retail Properties, Inc.		(13,517	)		(582,988	)
REITs-Storage – (0.4)%
Life Storage, Inc.		(6,856	)		(610,664	)
REITs-Shopping Centers – (0.6)%
Brixmor Property Group, Inc.		(19,993	)		(373,069	)
Weingarten Realty Investors		(12,509	)		(411,171	)
Total REITs-Shopping Centers					(784,240	)
REITs-Regional Malls – (0.6)%
Macerich Co.		(4,159	)		(273,163	)
Tanger Factory Outlet Centers, Inc.		(22,178	)		(587,939	)
Total REITs-Regional Malls					(861,102	)
REITs-Office Property – (0.7)%
Piedmont Office Realty Trust, Inc. — Class A		(23,099	)		(452,971	)
VEREIT, Inc.		(68,370	)		(532,602	)
Total REITs-Office Property					(985,573	)
REITs-Apartments – (0.7)%
Mid-America Apartment Communities, Inc.		(4,837	)		(486,409	)
Apartment Investment & Management Co. — Class A		(14,699	)		(642,493	)
Total REITs-Apartments					(1,128,902	)
REITs-Health Care – (0.9)%
CareTrust REIT, Inc.		(21,180	)		(354,977	)
Omega Healthcare Investors, Inc.		(14,860	)		(409,244	)
Senior Housing Properties Trust		(30,075	)		(575,936	)
Total REITs-Health Care					(1,340,157	)
REITs-Hotels – (1.0)%
Chesapeake Lodging Trust		(14,306	)		(387,550	)
LaSalle Hotel Properties		(17,137	)		(481,036	)
Chatham Lodging Trust		(24,875	)		(566,155	)
Total REITs-Hotels					(1,434,741	)
REITs-Diversified – (1.1)%
GEO Group, Inc.		(7,928	)		(187,101	)
CoreCivic, Inc.		(8,717	)		(196,133	)
PS Business Parks, Inc.		(2,580	)		(322,732	)
Colony NorthStar, Inc. — Class A		(34,566	)		(394,398	)
Lexington Realty Trust		(53,604	)		(517,279	)
Total REITs-Diversified					(1,617,643	)
Total REITS					(9,844,668	)
Total Common Stocks Sold Short
(Proceeds $10,877,661)					(10,862,052	)

EXCHANGE-TRADED FUNDS SOLD SHORT† - (2.3)%
iShares U.S. Real Estate ETF	42,741		(3,462,449	)
Total Exchange-Traded Funds Sold Short
(Proceeds $3,434,728)			(3,462,449	)
Total Securities Sold Short- (9.7)%
(Proceeds $14,312,389)		$	(14,324,501	)
Other Assets & Liabilities, net - 9.1%			13,410,004
Total Net Assets - 100.0%		$	146,738,470

Total Return Swap Agreements
Counterparty	Index	Financing Rate Pay (Receive)			Payment Frequency	Maturity Date	Notional Amount		Value and Unrealized Gain
OTC Custom Basket Swap Agreements Sold Short††
Morgan Stanley	Risk Managed Real Estate Portfolio Short Custom Basket Swap2		(1.07	)%	At Maturity	06/12/19	$	40,724,044	$	243,753
OTC Custom Basket Swap Agreements††
Morgan Stanley	Risk Managed Real Estate Portfolio Long Custom Basket Swap3		1.82	%	At Maturity	06/12/19		41,632,658		1,784,305

Risk Managed Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Unrealized Gain (Loss)
CUSTOM BASKET OF LONG SECURITIES3
Boyd Gaming Corp.		34,394	$	322,561
National Storage Affiliates Trust		66,674		211,565
Tier REIT, Inc.		66,005		182,819
Invitation Homes, Inc.		67,834		136,072
Prologis, Inc.		22,334		133,878
Alexandria Real Estate Equities, Inc.		11,826		131,437
Spirit Realty Capital, Inc.		141,803		110,641
American Tower Corp. — Class A		10,157		110,607
Crown Castle International Corp.		14,109		109,666
RLJ Lodging Trust		66,945		84,884
Rayonier, Inc.		31,460		77,857
Regency Centers Corp.		13,922		76,108
Equinix, Inc.		3,099		61,524
Rexford Industrial Realty, Inc.		54,684		55,008
Sun Communities, Inc.		15,010		54,123
Equity LifeStyle Properties, Inc.		12,339		43,268
Weyerhaeuser Co.		28,297		39,769
Pennsylvania Real Estate Investment Trust		55,465		39,134
Blackstone Mortgage Trust, Inc. — Class A		43,016		38,956
Federal Realty Investment Trust		7,034		37,245
CyrusOne, Inc.		22,814		33,421
EastGroup Properties, Inc.		16,317		29,471
Caesars Entertainment Corp.*		110,472		28,196
Gaming and Leisure Properties, Inc.		24,643		20,443
Cousins Properties, Inc.		97,828		19,084
Extended Stay America, Inc.		46,637		18,687
American Homes 4 Rent — Class A		62,806		13,701
MGM Growth Properties LLC — Class A		30,316		11,680
GGP, Inc.		62,281		4,215
Iron Mountain, Inc.		23,470		(11,310	)
Summit Hotel Properties, Inc.		56,212		(35,528	)
Jernigan Capital, Inc.		16,432		(39,938	)
Healthcare Trust of America, Inc. — Class A		28,707		(43,843	)
Physicians Realty Trust		49,250		(127,991	)
Sabra Health Care REIT, Inc.		60,627		(193,105	)
Total Custom Basket of Long Securities				1,784,305

CUSTOM BASKET OF SHORT SECURITIES2
Colony NorthStar, Inc. — Class A	(92,783	)	253,800
Omega Healthcare Investors, Inc.	(39,888	)	173,992
GEO Group, Inc.	(21,280	)	172,254
CoreCivic, Inc.	(23,399	)	166,332
CareTrust REIT, Inc.	(56,850	)	136,123
Senior Housing Properties Trust	(80,726	)	128,542
Piedmont Office Realty Trust, Inc. — Class A	(62,003	)	96,592
LaSalle Hotel Properties	(45,997	)	94,996
VEREIT, Inc.	(183,519	)	91,360
Lexington Realty Trust	(143,882	)	88,846
SL Green Realty Corp.	(12,702	)	47,859
PS Business Parks, Inc.	(6,924	)	45,820
Apartment Investment & Management Co. — Class A	(39,455	)	43,797
Mid-America Apartment Communities, Inc.	(12,983	)	23,921
Brixmor Property Group, Inc.	(53,664	)	23,601
Public Storage	(4,764	)	2,824
Liberty Property Trust	(31,120	)	(17,365	)
iShares U.S. Real Estate ETF	(114,724	)	(22,756	)
Weingarten Realty Investors	(33,575	)	(36,511	)
Macerich Co.	(11,161	)	(71,452	)
Jones Lang LaSalle, Inc.	(4,796	)	(74,783	)
Chesapeake Lodging Trust	(38,333	)	(81,921	)
CBRE Group, Inc. — Class A*	(22,885	)	(102,085	)
National Retail Properties, Inc.	(36,281	)	(125,087	)
Chatham Lodging Trust	(66,770	)	(152,057	)
Tanger Factory Outlet Centers, Inc.	(59,529	)	(204,332	)
Wynn Resorts Ltd.	(6,077	)	(216,143	)
Life Storage, Inc.	(18,403	)	(242,414	)
Total Custom Basket of Short Securities			243,753

Risk Managed Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Rate indicated is the 7 day yield as of December 31, 2017.
2	Total Return based on the return of the custom short basket of securities +/- financing at a variable rate. Rate indicated is rate effective at December 31, 2017.
3	Total Return based on the return of the custom long basket of securities +/- financing at a variable rate. Rate indicated is rate effective at December 31, 2017.

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	141,163,533	$	—	$	—	$	—	$	141,163,533
Money Market Fund		6,489,434		—		—		—		6,489,434
Custom Basket Swap Agreements		—		—		2,028,058		—		2,028,058
Total Assets	$	147,652,967	$	—	$	2,028,058	$	—	$	149,681,025

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	10,862,052	$	—	$	—	$	—	$	10,862,052
Exchange-Traded Funds		3,462,449		—		—		—		3,462,449
Total Liabilities	$	14,324,501	$	—	$	—	$	—	$	14,324,501

* Other financial instruments include swaps, which are reported as unrealized gain/loss at period end.

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were no transfers between levels.

Small Cap Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 97.1%
Financial - 37.8%
Wintrust Financial Corp.		4,747	$	391,010
Fulton Financial Corp.		20,015		358,269
Berkshire Hills Bancorp, Inc.		8,756		320,470
Cathay General Bancorp		7,038		296,792
First Citizens BancShares, Inc. — Class A		731		294,593
BancorpSouth Bank		8,015		252,072
Umpqua Holdings Corp.		11,974		249,059
Horace Mann Educators Corp.		5,460		240,786
Hanmi Financial Corp.		7,838		237,883
Radian Group, Inc.		11,320		233,305
Federal Agricultural Mortgage Corp. — Class C		2,878		225,175
Argo Group International Holdings Ltd.		3,564		219,721
Beneficial Bancorp, Inc.		13,113		215,709
Investors Bancorp, Inc.		15,524		215,473
Trustmark Corp.		6,555		208,842
TriCo Bancshares		5,304		200,809
Redwood Trust, Inc. REIT		12,642		187,354
Valley National Bancorp		15,305		171,722
Hersha Hospitality Trust REIT		9,789		170,329
RLJ Lodging Trust REIT		7,483		164,401
Flagstar Bancorp, Inc.*		4,350		162,777
Tier REIT, Inc. REIT		7,946		162,019
Old National Bancorp		8,989		156,858
iStar, Inc. REIT*		13,092		147,940
Hancock Holding Co.		2,899		143,501
MBIA, Inc.*		18,375		134,505
Cousins Properties, Inc. REIT		14,190		131,257
Navigators Group, Inc.		2,660		129,542
Sunstone Hotel Investors, Inc. REIT		7,112		117,561
MB Financial, Inc.		2,462		109,608
Hanover Insurance Group, Inc.		1,000		108,080
Lexington Realty Trust REIT		11,180		107,887
IBERIABANK Corp.		1,384		107,260
Summit Hotel Properties, Inc. REIT		6,894		104,996
LaSalle Hotel Properties REIT		3,699		103,831
Physicians Realty Trust REIT		5,622		101,140
Cowen, Inc. — Class A*		7,364		100,518
Equity Commonwealth REIT*		3,202		97,693
Hilltop Holdings, Inc.		3,682		93,265
Stifel Financial Corp.		1,494		88,983
Genworth Financial, Inc. — Class A*		27,235		84,701
Washington Federal, Inc.		2,450		83,912
1st Source Corp.		1,610		79,615
First Horizon National Corp.		3,383		67,626
Customers Bancorp, Inc.*		2,540		66,015
Invesco Mortgage Capital, Inc. REIT		3,583		63,885
ARMOUR Residential REIT, Inc. REIT		2,315		59,542
Forestar Group, Inc.*		1,366		30,052
Total Financial				7,798,343
Industrial - 13.6%
Plexus Corp.*		3,519		213,673
Louisiana-Pacific Corp.*		7,688		201,887
Sanmina Corp.*		5,477		180,741
GATX Corp.		2,775		172,494
TriMas Corp.*		6,177		165,235
Marten Transport Ltd.		7,868		159,720
GasLog Ltd.		6,992		155,572
Summit Materials, Inc. — Class A*		4,670		146,825
Crane Co.		1,499		133,741
ITT, Inc.		2,498		133,318
Worthington Industries, Inc.		2,858		125,923
Trinseo S.A.		1,715		124,509
Methode Electronics, Inc.		3,048		122,225
Greenbrier Companies, Inc.		2,137		113,902
Werner Enterprises, Inc.		2,886		111,544
Matson, Inc.		3,531		105,365
KEMET Corp.*		6,295		94,803
Esterline Technologies Corp.*		1,244		92,927
Apogee Enterprises, Inc.		2,008		91,826
Argan, Inc.		1,989		89,505
Scorpio Tankers, Inc.		24,079		73,441
Rand Logistics, Inc.*		34,819		5,432
Total Industrial				2,814,608
Consumer, Cyclical - 12.6%
UniFirst Corp.		2,125		350,413
Hawaiian Holdings, Inc.		6,624		263,966
Wabash National Corp.		11,378		246,903
International Speedway Corp. — Class A		5,946		236,948
Tenneco, Inc.		3,641		213,144
MDC Holdings, Inc.		6,629		211,333
Cooper Tire & Rubber Co.		5,795		204,853
Meritage Homes Corp.*		3,222		164,966
Century Communities, Inc.*		4,142		128,816
Unifi, Inc.*		3,498		125,473
Asbury Automotive Group, Inc.*		1,775		113,600
La-Z-Boy, Inc.		3,019		94,193
Caleres, Inc.		2,045		68,466
Cheesecake Factory, Inc.		1,388		66,874
Deckers Outdoor Corp.*		770		61,793
DSW, Inc. — Class A		2,004		42,906
Total Consumer, Cyclical				2,594,647
Consumer, Non-cyclical - 9.6%
Lannett Company, Inc.*		9,865		228,868
AMN Healthcare Services, Inc.*		3,938		193,947
Dean Foods Co.		15,013		173,550
Fresh Del Monte Produce, Inc.		3,612		172,184
Molina Healthcare, Inc.*		2,147		164,632
HealthSouth Corp.		3,050		150,701
Emergent BioSolutions, Inc.*		3,048		141,641
Carriage Services, Inc. — Class A		4,699		120,811
Navigant Consulting, Inc.*		5,940		115,295
Innoviva, Inc.*		7,954		112,867
FTI Consulting, Inc.*		2,544		109,290
Premier, Inc. — Class A*		2,908		84,885
Universal Corp.		1,498		78,645
AMAG Pharmaceuticals, Inc.*		5,596		74,147
Community Health Systems, Inc.*		12,809		54,566
Total Consumer, Non-cyclical				1,976,029
Utilities - 9.1%
Avista Corp.		7,683		395,598

Small Cap Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 97.1% (continued)
Utilities - 9.1% (continued)
Portland General Electric Co.		7,660	$	349,143
Spire, Inc.		4,200		315,630
Black Hills Corp.		3,818		229,500
ONE Gas, Inc.		2,369		173,553
Calpine Corp.*		9,927		150,195
ALLETE, Inc.		1,391		103,435
Southwest Gas Holdings, Inc.		999		80,399
PNM Resources, Inc.		1,960		79,282
Total Utilities				1,876,735
Communications - 5.0%
Viavi Solutions, Inc.*		25,599		223,735
Time, Inc.		10,850		200,182
Ciena Corp.*		6,858		143,538
NeoPhotonics Corp.*		17,137		112,762
Scholastic Corp.		2,678		107,415
InterDigital, Inc.		1,255		95,568
Finisar Corp.*		3,805		77,432
Infinera Corp.*		12,200		77,226
Total Communications				1,037,858
Energy - 4.8%
Rowan Companies plc — Class A*		18,891		295,833
Oasis Petroleum, Inc.*		20,144		169,411
Delek US Holdings, Inc.		4,363		152,443
Laredo Petroleum, Inc.*		11,888		126,132
MRC Global, Inc.*		5,304		89,744
Oceaneering International, Inc.		4,240		89,633
Gulfport Energy Corp.*		5,583		71,239
Total Energy				994,435
Technology - 2.6%
Cray, Inc.*		5,362		129,760
Photronics, Inc.*		14,292		121,839
MicroStrategy, Inc. — Class A*		857		112,524
ManTech International Corp. — Class A		2,096		105,198
InnerWorkings, Inc.*		5,611		56,279
Total Technology				525,600
Basic Materials - 2.0%
Kaiser Aluminum Corp.		2,545		271,933
Reliance Steel & Aluminum Co.		1,684		144,471
Total Basic Materials				416,404
Total Common Stocks
(Cost $17,624,558)				20,034,659

CONVERTIBLE PREFERRED STOCKS†††- 0.0%
Thermoenergy Corp. *,1,2	6,250	—
Total Convertible Preferred Stocks
(Cost $5,968)		—

EXCHANGE-TRADED FUNDS† - 2.3%
iShares Russell 2000 Value ETF	3,814	479,611
Total Exchange-Traded Funds
(Cost $451,506)		479,611

MONEY MARKET FUND† - 0.3%
Dreyfus Treasury Prime Cash Management Institutional Shares 1.11%3	57,076		57,076
Total Money Market Fund
(Cost $57,076)			57,076
Total Investments - 99.7%
(Cost $18,139,108)		$	20,571,346
Other Assets & Liabilities, net - 0.3%			57,031
Total Net Assets - 100.0%		$	20,628,377

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	Security was fair valued by the Valuation Committee at December 31, 2017. The total market value of fair valued securities amounts to $0, (cost $5,968) or 0.0% of total net assets.
2	PIPE (Private Investment in Public Equity) - Stock issued by a company in the secondary market as a means of raising capital more quickly and less expensively than through registration of a secondary public offering.
3	Rate indicated is the 7 day yield as of December 31, 2017.

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs			Total
Common Stocks	$	20,034,659	$	—	$	—		$	20,034,659
Convertible Preferred Stocks		—		—		—	*		—	*
Exchanged Traded Funds		479,611		—		—			479,611
Money Market Fund		57,076		—		—			57,076
Total Assets	$	20,571,346	$	—		—	*	$	20,571,346

*Market value of security is $0.

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were no transfers between levels.

StylePlus—Large Core Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 18.6%
Consumer, Non-cyclical - 7.1%
Johnson & Johnson		6,583	$	919,777
Merck & Company, Inc.		12,084		679,966
Amgen, Inc.		3,644		633,692
Anthem, Inc.		2,264		509,423
General Mills, Inc.		8,425		499,518
Kimberly-Clark Corp.		4,120		497,119
Eli Lilly & Co.		5,865		495,358
Sysco Corp.		8,116		492,885
Humana, Inc.		1,957		485,473
Gilead Sciences, Inc.		6,737		482,639
Celgene Corp.*		4,620		482,143
United Rentals, Inc.*		2,798		481,004
Dr Pepper Snapple Group, Inc.		4,881		473,750
AbbVie, Inc.		4,881		472,041
Mylan N.V.*		11,112		470,149
JM Smucker Co.		3,704		460,185
Cardinal Health, Inc.		7,444		456,094
Tyson Foods, Inc. — Class A		5,619		455,532
Archer-Daniels-Midland Co.		11,116		445,529
Kellogg Co.		6,513		442,754
McKesson Corp.		2,824		440,403
Molson Coors Brewing Co. — Class B		5,308		435,628
HCA Healthcare, Inc.*		4,867		427,517
Campbell Soup Co.		8,380		403,162
Cigna Corp.		1,938		393,589
IQVIA Holdings, Inc.*		3,708		363,013
Allergan plc		2,179		356,441
Zimmer Biomet Holdings, Inc.		2,897		349,581
Pfizer, Inc.		9,238		334,600
Kroger Co.		12,145		333,380
Procter & Gamble Co.		3,170		291,260
Abbott Laboratories		4,979		284,151
Conagra Brands, Inc.		6,561		247,153
Western Union Co.		10,907		207,342
DaVita, Inc.*		2,289		165,380
AmerisourceBergen Corp. — Class A		1,523		139,842
UnitedHealth Group, Inc.		566		124,780
Becton Dickinson and Co.		497		106,388
Total Consumer, Non-cyclical				15,738,641
Industrial - 2.8%
Caterpillar, Inc.		3,992		629,059
FedEx Corp.		2,278		568,452
Union Pacific Corp.		3,772		505,825
Ingersoll-Rand plc		5,120		456,653
Fluor Corp.		8,759		452,402
WestRock Co.		7,141		451,383
L3 Technologies, Inc.		2,281		451,296
Textron, Inc.		7,932		448,872
Parker-Hannifin Corp.		2,169		432,889
Norfolk Southern Corp.		2,697		390,796
Arconic, Inc.		11,554		314,847
Cummins, Inc.		1,533		270,789
United Technologies Corp.		1,513		193,013
Snap-on, Inc.		818		142,577
CSX Corp.		2,479		136,370
Stericycle, Inc.*		1,884		128,093
General Electric Co.		6,530		113,948
Total Industrial				6,087,264
Technology - 2.7%
Apple, Inc.		6,969		1,179,364
Microsoft Corp.		9,132		781,151
International Business Machines Corp.		3,677		564,125
HP, Inc.		21,276		447,009
DXC Technology Co.		4,614		437,869
CA, Inc.		12,810		426,317
Western Digital Corp.		4,883		388,345
Micron Technology, Inc.*		8,301		341,337
Intel Corp.		7,180		331,429
Fidelity National Information Services, Inc.		3,372		317,272
Oracle Corp.		6,312		298,431
NetApp, Inc.		3,308		182,998
CSRA, Inc.		4,513		135,029
QUALCOMM, Inc.		1,791		114,660
Broadcom Ltd.		439		112,779
Total Technology				6,058,115
Communications - 2.3%
Alphabet, Inc. — Class C*		740		774,336
Cisco Systems, Inc.		17,768		680,514
Verizon Communications, Inc.		12,149		643,047
Comcast Corp. — Class A		13,839		554,252
AT&T, Inc.		11,498		447,042
Amazon.com, Inc.*		365		426,857
Omnicom Group, Inc.		5,227		380,682
Facebook, Inc. — Class A*		2,042		360,331
Juniper Networks, Inc.		12,055		343,568
Viacom, Inc. — Class B		6,877		211,881
DISH Network Corp. — Class A*		4,351		207,760
Netflix, Inc.*		615		118,055
Total Communications				5,148,325
Consumer, Cyclical - 1.8%
CVS Health Corp.		7,437		539,182
Wal-Mart Stores, Inc.		5,197		513,204
Ford Motor Co.		38,343		478,904
Southwest Airlines Co.		6,079		397,870
United Continental Holdings, Inc.*		5,767		388,696
Alaska Air Group, Inc.		4,406		323,885
Best Buy Company, Inc.		3,896		266,759
PACCAR, Inc.		3,631		258,092
American Airlines Group, Inc.		4,863		253,022
Delta Air Lines, Inc.		4,448		249,088
Ralph Lauren Corp. — Class A		2,242		232,473
Walgreens Boots Alliance, Inc.		1,666		120,985
Total Consumer, Cyclical				4,022,160
Financial - 1.3%
Principal Financial Group, Inc.		6,259		441,635
JPMorgan Chase & Co.		3,901		417,173
Alliance Data Systems Corp.		1,306		331,045
Berkshire Hathaway, Inc. — Class B*		1,276		252,929
Bank of America Corp.		5,972		176,293
Citigroup, Inc.		2,217		164,967
State Street Corp.		1,503		146,708
Northern Trust Corp.		1,468		146,639
Capital One Financial Corp.		1,347		134,134
Wells Fargo & Co.		2,113		128,196
Aflac, Inc.		1,423		124,911
Prudential Financial, Inc.		1,075		123,603

StylePlus—Large Core Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 18.6% (continued)
Financial - 1.3% (continued)
U.S. Bancorp		2,296	$	123,020
Bank of New York Mellon Corp.		2,263		121,885
Total Financial				2,833,138
Energy - 0.5%
Valero Energy Corp.		4,974		457,160
Exxon Mobil Corp.		5,149		430,662
Chevron Corp.		2,213		277,046
Total Energy				1,164,868
Basic Materials - 0.1%
DowDuPont, Inc.		3,508		249,840
Total Common Stocks
(Cost $37,522,396)				41,302,351

MUTUAL FUNDS† - 79.2%
Guggenheim Strategy Fund III1	3,083,390	77,146,427
Guggenheim Strategy Fund II1	2,471,021	61,800,233
Guggenheim Strategy Fund I1	809,725	20,291,718
Guggenheim Limited Duration Fund - Institutional Class1	660,151	16,358,533
Total Mutual Funds
(Cost $174,597,775)		175,596,911

MONEY MARKET FUND† - 2.7%
Dreyfus Treasury Securities Cash Management Fund Institutional Class 1.11%2	5,884,441		5,884,441
Total Money Market Fund
(Cost $5,884,441)			5,884,441
Total Investments - 100.5%
(Cost $218,004,612)		$	222,783,703
Other Assets & Liabilities, net - (0.5)%			(1,180,038	)
Total Net Assets - 100.0%		$	221,603,665

Futures Contracts
Description	Number of Contracts		Expiration date	Notional Amount		Value and Unrealized Gain
Equity Futures Contracts Purchased†
S&P 500 Index Mini Futures Contracts		18	Mar 2018	$	2,409,975	$	3,309

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Gain

OTC Equity Index Swap Agreements††

Deutsche Bank

S&P 500 Index

1.68

%

At Maturity

09/06/18

34,349

$

179,038,667

$

15,037,305

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	Rate indicated is the 7 day yield as of December 31, 2017.

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 1 - Other*		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	41,302,351	$	—	$	—	$	—	$	—	$	41,302,351
Equity Futures Contracts		—		3,309		—		—		—		3,309
Equity Index Swap Agreements		—		—		—		15,037,305		—		15,037,305
Money Market Fund		5,884,441		—		—		—		—		5,884,441
Mutual Funds		175,596,911		—		—		—		—		175,596,911
Total Assets	$	222,783,703	$	3,309	$	—	$	15,037,305	$	—	$	237,824,317

* Other financial instruments include futures contracts and/or swaps, which are reported as unrealized gain/loss at period end.

StylePlus—Large Core Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were no transfers between levels.

Affiliated Transactions

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

The Fund may invest in the Guggenheim Strategy Funds Trust consisting of Guggenheim Strategy Fund I, Guggenheim Strategy Fund II, Guggenheim Strategy Fund III, and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Cash Management Funds”), open-end management investment companies managed by GI. The Cash Management Funds, which launched on March 11, 2014, are offered as cash management options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Cash Management Funds pay no investment management fees. The Cash Management Funds’ annual report on Form N-CSR dated September 30, 2017, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000089180417000715/gug72218.htm.

Transactions during the period ended December 31, 2017, in which the portfolio company is an "affiliated person", were as follows:

Security Name	Value 09/30/17		Additions		Reductions		Realized Gain		Change in Unrealized			Value 12/31/17		Shares 12/31/17		Investment Income		Capital Gain Distributions
Guggenheim Limited Duration Fund - Institutional Class	$	16,275,156	$	129,379	$	–	$	–	$	(46,002	)	$	16,358,533		660,151	$	128,354	$	–
Guggenheim Strategy Fund I		20,183,661		148,406		–		7,672		(40,349	)		20,291,718		809,725		140,771		7,672
Guggenheim Strategy Fund II		61,428,415		494,846		–		32,875		(123,028	)		61,800,233		2,471,021		462,147		32,875
Guggenheim Strategy Fund III		69,197,325		8,013,650		–		18,764		(64,548	)		77,146,427		3,083,390		480,404		18,764
	$	167,084,557	$	8,786,281	$	–	$	59,311	$	(273,927	)	$	175,596,911			$	1,211,676	$	59,311

StylePlus—Mid Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 19.2%
Consumer, Non-cyclical - 7.5%
Edwards Lifesciences Corp.*		2,698	$	304,092
United Rentals, Inc.*		1,570		269,899
Dr Pepper Snapple Group, Inc.		2,517		244,300
Kellogg Co.		3,547		241,125
WellCare Health Plans, Inc.*		1,008		202,719
Quanta Services, Inc.*		4,802		187,806
HCA Healthcare, Inc.*		2,128		186,923
IQVIA Holdings, Inc.*		1,900		186,010
CoreLogic, Inc.*		3,997		184,701
Sysco Corp.		3,036		184,376
General Mills, Inc.		3,103		183,977
QIAGEN N.V.*		5,812		179,765
Campbell Soup Co.		3,732		179,547
Incyte Corp.*		1,889		178,907
Zoetis, Inc.		2,480		178,659
Kimberly-Clark Corp.		1,465		176,767
Humana, Inc.		712		176,626
McKesson Corp.		1,103		172,013
Baxter International, Inc.		2,596		167,805
Teleflex, Inc.		648		161,235
AmerisourceBergen Corp. — Class A		1,703		156,369
Illumina, Inc.*		694		151,632
Performance Food Group Co.*		4,524		149,744
Euronet Worldwide, Inc.*		1,751		147,557
Church & Dwight Company, Inc.		2,938		147,400
Spectrum Brands Holdings, Inc.		1,291		145,108
Western Union Co.		6,828		129,800
BioMarin Pharmaceutical, Inc.*		1,448		129,118
Kroger Co.		4,538		124,568
FleetCor Technologies, Inc.*		495		95,253
Bioverativ, Inc.*		1,696		91,448
Global Payments, Inc.		887		88,913
Regeneron Pharmaceuticals, Inc.*		235		88,351
Live Nation Entertainment, Inc.*		2,066		87,950
TreeHouse Foods, Inc.*		1,687		83,439
Henry Schein, Inc.*		1,154		80,642
Herbalife Ltd.*		1,134		76,795
Vantiv, Inc. — Class A*		1,010		74,285
Catalent, Inc.*		1,576		64,742
Gartner, Inc.*		525		64,654
McCormick & Company, Inc.		609		62,063
ResMed, Inc.		694		58,775
Booz Allen Hamilton Holding Corp.		1,451		55,327
Centene Corp.*		545		54,980
Sabre Corp.		2,644		54,202
Alnylam Pharmaceuticals, Inc.*		394		50,058
Pilgrim's Pride Corp.*		1,568		48,702
Total Consumer, Non-cyclical				6,509,127
Industrial - 4.1%
Parker-Hannifin Corp.		1,545		308,351
Roper Technologies, Inc.		1,039		269,101
Ingersoll-Rand plc		2,665		237,692
XPO Logistics, Inc.*		2,378		217,801
Hubbell, Inc.		1,569		212,348
Xylem, Inc.		3,023		206,169
Snap-on, Inc.		1,101		191,904
Stanley Black & Decker, Inc.		1,102		186,999
AMETEK, Inc.		2,531		183,422
Tech Data Corp.*		1,837		179,971
Agilent Technologies, Inc.		2,612		174,926
Zebra Technologies Corp. — Class A*		1,548		160,682
J.B. Hunt Transport Services, Inc.		1,381		158,787
Dover Corp.		1,473		148,758
Cummins, Inc.		812		143,432
Energizer Holdings, Inc.		2,309		110,786
Deere & Co.		601		94,062
Masco Corp.		1,742		76,543
MasTec, Inc.*		1,563		76,509
Stericycle, Inc.*		1,054		71,661
TransDigm Group, Inc.		232		63,712
CH Robinson Worldwide, Inc.		641		57,107
Fortive Corp.		689		49,849
Total Industrial				3,580,572
Technology - 3.2%
DXC Technology Co.		3,286		311,841
Fidelity National Information Services, Inc.		2,849		268,062
Dell Technologies Incorporated — Class V*		3,161		256,926
NetApp, Inc.		4,080		225,706
KLA-Tencor Corp.		1,739		182,717
First Data Corp. — Class A*		10,522		175,823
j2 Global, Inc.		2,259		169,493
Western Digital Corp.		1,969		156,595
Analog Devices, Inc.		1,664		148,146
ON Semiconductor Corp.*		6,897		144,423
CSRA, Inc.		4,340		129,853
Lam Research Corp.		697		128,297
Microchip Technology, Inc.		1,384		121,626
NCR Corp.*		3,263		110,909
ServiceNow, Inc.*		669		87,231
Skyworks Solutions, Inc.		908		86,214
Teradyne, Inc.		1,297		54,305
Cerner Corp.*		764		51,486
Total Technology				2,809,653
Consumer, Cyclical - 2.0%
Alaska Air Group, Inc.		2,549		187,377
Lear Corp.		1,037		183,196
American Airlines Group, Inc.		3,515		182,885
Lions Gate Entertainment Corp. — Class A*		5,238		177,097
Southwest Airlines Co.		2,438		159,567
BorgWarner, Inc.		2,295		117,252
Allison Transmission Holdings, Inc.		2,273		97,898
Liberty Interactive Corporation QVC Group — Class A*		3,893		95,067
WW Grainger, Inc.		397		93,791
Toll Brothers, Inc.		1,578		75,776
Whirlpool Corp.		408		68,805
Harley-Davidson, Inc.		1,294		65,839
HD Supply Holdings, Inc.*		1,325		53,040
Aptiv plc		592		50,219
WABCO Holdings, Inc.*		344		49,364
Hasbro, Inc.		517		46,990

StylePlus—Mid Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 19.2% (continued)
Consumer, Cyclical - 2.0% (continued)
Delphi Technologies plc*		197	$	10,337
Total Consumer, Cyclical				1,714,500
Communications - 1.3%
Omnicom Group, Inc.		3,649		265,757
Expedia, Inc.		1,638		196,183
Palo Alto Networks, Inc.*		1,133		164,217
DISH Network Corp. — Class A*		1,655		79,026
Symantec Corp.		2,682		75,257
CommScope Holding Company, Inc.*		1,771		66,997
CBS Corp. — Class B		1,084		63,956
Nexstar Media Group, Inc. — Class A		808		63,186
AMC Networks, Inc. — Class A*		1,024		55,378
Interpublic Group of Companies, Inc.		2,615		52,718
LogMeIn, Inc.		432		49,464
Total Communications				1,132,139
Financial - 0.6%
Alliance Data Systems Corp.		1,004		254,494
Air Lease Corp. — Class A		4,038		194,187
Digital Realty Trust, Inc. REIT		423		48,180
Total Financial				496,861
Energy - 0.2%
Tellurian, Inc.*		11,919		116,091
ONEOK, Inc.		989		52,862
Total Energy				168,953
Basic Materials - 0.2%
International Paper Co.		1,232	$	71,382
Univar, Inc.*		1,764		54,613
Total Basic Materials				125,995
Diversified - 0.1%
HRG Group, Inc.*		6,605		111,955
Total Common Stocks
(Cost $15,447,339)				16,649,755

MUTUAL FUNDS† - 78.2%
Guggenheim Strategy Fund III1	1,145,243	28,653,983
Guggenheim Strategy Fund II1	956,016	23,909,967
Guggenheim Strategy Fund I1	347,380	8,705,331
Guggenheim Limited Duration Fund - Institutional Class1	262,550	6,505,981
Total Mutual Funds
(Cost $67,419,398)		67,775,262

MONEY MARKET FUND† - 2.9%
Dreyfus Treasury Prime Cash Management Institutional Shares 1.11%2	2,521,844		2,521,844
Total Money Market Fund
(Cost $2,521,844)			2,521,844
Total Investments - 100.3%
(Cost $85,388,581)		$	86,946,861
Other Assets & Liabilities, net - (0.3)%			(222,331	)
Total Net Assets - 100.0%		$	86,724,529

Futures Contracts
Description	Number of Contracts		Expiration date	Notional Amount		Value and Unrealized Gain (Loss)
Equity Futures Contracts Purchased†
S&P MidCap 400 Index Mini Futures Contracts		6	Mar 2018	$	1,141,440	$	5,770
S&P 500 Index Mini Futures Contracts		3	Mar 2018		401,663		1,985
NASDAQ-100 Index Mini Futures Contracts		3	Mar 2018		384,615		(382	)
				$	1,927,718	$	7,373

Total Return Swap Agreements

Counterparty

Index

Financing Rate Pay (Receive)

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Gain

OTC Equity Index Swap Agreements††

Morgan Stanley Capital Services, Inc.

Russell Midcap Growth Index

1.51

%

At Maturity

09/06/18

24,181

$

68,507,675

$

6,562,665

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	Rate indicated is the 7 day yield as of December 31, 2017.

plc — Public Limited Company

REIT — Real Estate Investment Trust

StylePlus—Mid Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 1 - Other*		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	16,649,755	$	—	$	—	$	—	$	—	$	16,649,755
Equity Futures Contracts		—		7,755		—		—		—		7,755
Equity Index Swap Agreements		—		—		—		6,562,665		—		6,562,665
Money Market Fund		2,521,844		—		—		—		—		2,521,844
Mutual Funds		67,775,262		—		—		—		—		67,775,262
Total Assets	$	86,946,861	$	7,755	$	—	$	6,562,665	$	—	$	93,517,281

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 1 - Other*		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts	$	—	$	382	$	—	$	—	$	—	$	382

* Other financial instruments include futures contracts and/or swaps, which are reported as unrealized gain/loss at period end.

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were no transfers between levels.

Affiliated Transactions

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

The Fund may invest in the Guggenheim Strategy Funds Trust consisting of Guggenheim Strategy Fund I, Guggenheim Strategy Fund II, Guggenheim Strategy Fund III, and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Cash Management Funds”), open-end management investment companies managed by GI. The Cash Management Funds, which launched on March 11, 2014, are offered as cash management options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Cash Management Funds pay no investment management fees. The Cash Management Funds’ annual report on Form N-CSR dated September 30, 2017, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000089180417000715/gug72218.htm.

Transactions during the period ended December 31, 2017, in which the portfolio company is an "affiliated person", were as follows:

Security Name	Value 09/30/17		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized			Value 12/31/17		Shares 12/31/17		Investment Income		Capital Gain Distributions
Guggenheim Limited Duration Fund - Institutional Class	$	6,472,821	$	51,456	$	–	$	–	$	(18,296	)	$	6,505,981		262,550	$	51,044	$	–
Guggenheim Strategy Fund I		7,911,590		811,348		–		–		(17,607	)		8,705,331		347,380		58,054		3,292
Guggenheim Strategy Fund II		20,821,922		3,136,204		–		–		(48,159	)		23,909,967		956,016		173,418		12,719
Guggenheim Strategy Fund III		27,334,521		1,342,645		–		–		(23,183	)		28,653,983		1,145,243		185,987		6,969
	$	62,540,854	$	5,341,653	$	–	$	–	$	(107,245	)	$	67,775,262			$	468,503	$	22,980

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 0.0%
Energy - 0.0%
Titan Energy LLC*		6,740	$	10,245
Total Common Stocks
(Cost $200,000)				10,245

PREFERRED STOCKS†† - 0.0%
Industrial - 0.0%
Seaspan Corp. 6.38% due 04/30/19	41,750	1,066,713
Total Preferred Stocks
(Cost $1,043,750)		1,066,713

MUTUAL FUNDS† - 1.6%
Guggenheim Floating Rate Strategies Fund - Institutional Class1	4,148,677	107,907,093
Guggenheim Strategy Fund II1	577,784	14,450,366
Guggenheim Strategy Fund I1	474,534	11,891,825
Guggenheim Strategy Fund III1	465,946	11,657,972
Total Mutual Funds
(Cost $145,800,291)		145,907,256

CLOSED-END FUNDS† - 0.0%
Guggenheim Strategic Opportunities Fund1	132,222	2,853,351
Total Closed-End Funds
(Cost $2,223,974)		2,853,351

MONEY MARKET FUND† - 2.1%
Federated U.S. Treasury Cash Reserve Fund - Institutional Shares 1.05%3	185,324,843	185,324,843
Total Money Market Fund
(Cost $185,324,843)		185,324,843

	Face Amount~
ASSET-BACKED SECURITIES†† - 36.4%
Collateralized Loan Obligations - 26.9%
Ladder Capital Commercial Mortgage 2017-FL1 Mortgage Trust
2017-FL1, 2.36% (1 Month USD LIBOR + 0.88%) due 09/15/344,5		82,815,000	82,719,350
2017-FL1, 2.73% (1 Month USD LIBOR + 1.25%) due 09/15/344,5		22,477,000	22,424,207
2017-FL1, 2.98% (1 Month USD LIBOR + 1.50%) due 09/15/344,5		14,269,000	14,216,702
Fortress Credit Opportunities IX CLO Ltd.
2017-9A, 2.97% (3 Month USD LIBOR + 1.55%) due 11/15/294,5		95,150,000	94,976,429
Golub Capital Partners CLO Ltd.
2016-33A, 3.92% (3 Month USD LIBOR + 2.48%) due 11/21/284,5		48,750,000	48,872,533
2015-25A, 3.19% (3 Month USD LIBOR + 1.80%) due 08/05/274,5		16,500,000	16,520,285
BSPRT 2017-FL2 Issuer Ltd.
2017-FL2, 2.30% (1 Month USD LIBOR + 0.82%) due 10/15/344,5		46,000,000	45,846,342
2017-FL2, 2.58% (1 Month USD LIBOR + 1.10%) due 10/15/344,5		11,000,000	10,944,581
2017-FL2, 2.88% (1 Month USD LIBOR + 1.40%) due 10/15/344,5		6,200,000	6,181,081
CIFC Funding Ltd.
2017-3A, 2.38% (3 Month USD LIBOR + 1.02%) due 10/24/254,5		24,700,000	24,714,606
2017-3A, 2.31% (3 Month USD LIBOR + 0.95%) due 07/22/264,5		12,100,000	12,112,360
2017-3A, 2.86% (3 Month USD LIBOR + 1.50%) due 10/24/254,5		11,500,000	11,509,620
2015-3A, 3.46% (3 Month USD LIBOR + 2.10%) due 10/19/274,5		9,750,000	9,832,151
2016-5A, 4.05% (3 Month USD LIBOR + 2.70%) due 01/17/274,5		3,750,000	3,795,895
KVK CLO Ltd.
2017-1A, 3.22% (3 Month USD LIBOR + 1.80%) due 05/15/264,5		24,865,000	24,956,577
2017-2A, 3.11% (3 Month USD LIBOR + 1.75%) due 01/15/264,5		19,200,000	19,199,212
2017-2A, 3.01% (3 Month USD LIBOR + 1.65%) due 07/15/264,5		14,800,000	14,809,831
2013-1A, due 01/15/285,6		3,800,000	1,670,385
Shackleton CLO Ltd.
2016-7A, 3.31% (3 Month USD LIBOR + 1.95%) due 04/15/274,5		20,250,000	20,412,939
2017-5A, 3.04% (3 Month USD LIBOR + 1.65%) due 05/07/264,5		19,900,000	19,956,081
2017-4A, 2.86% (3 Month USD LIBOR + 1.50%) due 01/13/254,5		14,950,000	14,955,600
Hunt CRE Ltd.
2017-FL1, 2.48% (1 Month USD LIBOR + 1.00%) due 08/15/344,5		40,700,000	40,858,110
2017-FL1, 2.78% (1 Month USD LIBOR + 1.30%) due 08/15/344,5		8,730,500	8,765,383

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.4% (continued)
Collateralized Loan Obligations - 26.9% (continued)
2017-FL1, 3.13% (1 Month USD LIBOR + 1.65%) due 08/15/344,5		3,000,000	$	3,014,469
Vibrant CLO II Ltd.
2017-2A, 2.26% (3 Month USD LIBOR + 0.90%) due 07/24/244,5		30,299,022		30,274,162
2017-2A, 2.81% (3 Month USD LIBOR + 1.45%) due 07/24/244,5		17,750,000		17,744,279
Fortress Credit Opportunities VII CLO Ltd.
2016-7A, 3.37% (3 Month USD LIBOR + 2.05%) due 12/15/284,5		42,200,000		42,349,496
2016-7A, 4.27% (3 Month USD LIBOR + 2.95%) due 12/15/284,5		5,000,000		5,008,292
Fortress Credit Opportunities V CLO Ltd.
2017-5A, 3.05% (3 Month USD LIBOR + 1.70%) due 10/15/264,5		26,200,000		26,342,109
2017-5A, 3.40% due 10/15/265		16,000,000		15,968,725
2017-5A, 4.50% (3 Month USD LIBOR + 3.15%) due 10/15/264,5		1,750,000		1,749,234
2017-5A, 3.70% (3 Month USD LIBOR + 2.35%) due 10/15/264,5		1,500,000		1,503,362
2017-5A, 3.75% due 10/15/265		1,000,000		994,670
PFP Ltd.
2017-3, 2.48% (1 Month USD LIBOR + 1.05%) due 01/14/354,5		26,800,368		26,833,879
2015-2, 3.48% (1 Month USD LIBOR + 2.00%) due 07/14/344,5		16,500,000		16,490,310
2017-3, 3.18% (1 Month USD LIBOR + 1.75%) due 01/14/354,5		2,000,000		2,006,943
Fortress Credit BSL II Ltd.
2017-2A, 3.01% (3 Month USD LIBOR + 1.65%) due 10/19/254,5		42,850,000		42,944,666
Atlas Senior Loan Fund III Ltd.
2017-1A, 2.72% (3 Month USD LIBOR + 1.30%) due 11/17/274,5		25,100,000		25,054,498
2017-1A, 2.25% (3 Month USD LIBOR + 0.83%) due 11/17/274,5		15,400,000		15,397,781
Figueroa CLO Ltd.
2017-2A, 2.88% (3 Month USD LIBOR + 1.25%) due 06/20/274,5		40,000,000		40,205,394
Marathon CLO V Ltd.
2017-5A, 2.31% (3 Month USD LIBOR + 0.87%) due 11/21/274,5		22,200,000		22,170,714
2017-5A, 2.89% (3 Month USD LIBOR + 1.45%) due 11/21/274,5		14,375,000		14,352,561
Woodmont Trust
2017-3A, 2.97% (3 Month USD LIBOR + 1.73%) due 10/18/294,5		16,000,000		16,066,347
2017-2A, 3.15% (3 Month USD LIBOR + 1.80%) due 07/18/284,5		10,100,000		10,182,404
2017-3A, 3.19% (3 Month USD LIBOR + 1.95%) due 10/18/294,5		9,800,000		9,863,451
NXT Capital CLO LLC
2017-1A, 3.06% (3 Month USD LIBOR + 1.70%) due 04/20/294,5		33,000,000		33,115,964
2015-1A, 5.01% (3 Month USD LIBOR + 3.65%) due 04/21/274,5		1,000,000		1,000,095
Resource Capital Corporation Ltd.
2017-CRE5, 2.28% (1 Month USD LIBOR + 0.80%) due 07/15/344,5		33,911,292		33,932,049
Telos CLO 2014-6 Ltd.
2017-6A, 3.10% (3 Month USD LIBOR + 1.75%) due 01/17/274,5		32,000,000		32,077,801
Cerberus Loan Funding XVII Ltd.
2016-3A, 3.89% (3 Month USD LIBOR + 2.53%) due 01/15/284,5		31,500,000		31,703,112
Flagship CLO VIII Ltd.
2017-8A, 3.06% (3 Month USD LIBOR + 1.70%) due 01/16/264,5		30,900,000		30,972,139
WhiteHorse VI Ltd.
2016-1A, 3.28% (3 Month USD LIBOR + 1.90%) due 02/03/254,5		22,100,000		22,104,193
2016-1A, 4.13% (3 Month USD LIBOR + 2.75%) due 02/03/254,5		8,500,000		8,609,750
ABPCI Direct Lending Fund CLO II LLC
2017-1A, 3.25% (3 Month USD LIBOR + 1.78%) due 07/20/294,5		29,700,000		29,934,666
Venture XIX CLO Ltd.
2016-19A, 3.36% (3 Month USD LIBOR + 2.00%) due 01/15/274,5		29,450,000		29,612,365

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.4% (continued)
Collateralized Loan Obligations - 26.9% (continued)
Monroe Capital CLO 2014-1 Ltd.
2017-1A, 2.71% (3 Month USD LIBOR + 1.35%) due 10/22/264,5		18,300,000	$	18,296,476
2017-1A, 3.06% (3 Month USD LIBOR + 1.70%) due 10/22/264,5		10,100,000		10,106,928
AIMCO CLO Series 2015-A
2018-AA, 2.41% (3 Month USD LIBOR + 0.85%) due 01/15/284,5		28,400,000		28,372,080
FDF II Ltd.
2016-2A, 4.29% due 05/12/315		20,500,000		20,777,233
2016-2A, 5.29% due 05/12/315		5,000,000		5,036,522
Cerberus Loan Funding XVI, LP
2016-2A, 3.41% (3 Month USD LIBOR + 2.05%) due 11/15/274,5		15,500,000		15,813,513
2016-2A, 3.71% (3 Month USD LIBOR + 2.35%) due 11/15/274,5		9,350,000		9,526,758
Golub Capital Partners CLO 16 Ltd.
2017-16A, 3.07% (3 Month USD LIBOR + 1.70%) due 07/25/294,5		17,500,000		17,511,006
2017-16A, 3.22% (3 Month USD LIBOR + 1.85%) due 07/25/294,5		6,700,000		6,691,644
Flatiron CLO Ltd.
2017-1A, 2.95% (3 Month USD LIBOR + 1.60%) due 07/17/264,5		16,600,000		16,670,409
2017-1A, 3.00% (3 Month USD LIBOR + 1.65%) due 01/17/264,5		7,100,000		7,140,991
A Voce CLO Ltd.
2017-1A, 2.91% (3 Month USD LIBOR + 1.55%) due 07/15/264,5		23,200,000		23,209,219
Shackleton 2014-VI CLO
2017-6A, 2.95% (3 Month USD LIBOR + 1.60%) due 07/17/264,5		22,900,000		22,903,477
ALM XIV Ltd.
2017-14A, 2.93% (3 Month USD LIBOR + 1.55%) due 07/28/264,5		22,900,000		22,900,000
Avery Point V CLO Ltd.
2017-5A, 2.33% (3 Month USD LIBOR + 0.98%) due 07/17/264,5		22,700,000		22,752,812
OZLM IX Ltd.
2017-9A, 3.01% (3 Month USD LIBOR + 1.65%) due 01/20/274,5		22,550,000		22,750,518
Cent CLO 20 Ltd.
2017-20A, 3.00% (3 Month USD LIBOR + 1.63%) due 01/25/264,5		22,500,000		22,514,024
Venture XII CLO Ltd.
2017-12A, 2.95% (3 Month USD LIBOR + 1.63%) due 02/28/264,5		22,300,000		22,424,430
Oaktree EIF II Series A2 Ltd.
2017-A2, 3.12% (3 Month USD LIBOR + 1.70%) due 11/15/254,5		21,900,000		21,926,004
Symphony CLO XIV Ltd.
2017-14A, 3.21% (3 Month USD LIBOR + 1.85%) due 07/14/264,5		21,275,000		21,309,721
Regatta V Funding Ltd.
2017-1A, 2.97% (3 Month USD LIBOR + 1.60%) due 10/25/264,5		20,950,000		21,007,289
West CLO 2014-1 Ltd.
2017-1A, 2.27% (3 Month USD LIBOR + 0.92%) due 07/18/264,5		20,000,000		20,034,678
Galaxy XVIII CLO Ltd.
2017-18A, 2.86% (3 Month USD LIBOR + 1.50%) due 10/15/264,5		19,550,000		19,616,451
CIFC Funding 2014 Ltd.
2017-1A, 2.95% (3 Month USD LIBOR + 1.60%) due 04/18/254,5		19,150,000		19,148,321
Flagship VII Ltd.
2017-7A, 2.91% (3 Month USD LIBOR + 1.55%) due 01/20/264,5		19,125,000		19,122,353
Newstar Commercial Loan Funding LLC
2017-1A, 3.83% (3 Month USD LIBOR + 2.50%) due 03/20/274,5		12,750,000		12,801,062
2016-1A, 5.21% (3 Month USD LIBOR + 3.75%) due 02/25/284,5		5,750,000		5,749,929
2014-1A, 4.96% (3 Month USD LIBOR + 3.60%) due 04/20/254,5		500,000		498,223
Northwoods Capital XIV Ltd.
2017-14A, 3.01% (3 Month USD LIBOR + 1.70%) due 11/12/254,5		18,450,000		18,491,433

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.4% (continued)
Collateralized Loan Obligations - 26.9% (continued)
Atlas Senior Loan Fund IV Ltd.
2017-2A, 2.87% (3 Month USD LIBOR + 1.45%) due 02/17/264,5		18,450,000	$	18,445,074
York CLO 1 Ltd.
2017-1A, 3.06% (3 Month USD LIBOR + 1.70%) due 01/22/274,5		17,800,000		17,843,125
TICP CLO I Ltd.
2017-1A, 2.97% (3 Month USD LIBOR + 1.60%) due 04/26/264,5		17,250,000		17,342,980
ABPCI Direct Lending Fund CLO I LLC
2016-1A, 4.06% (3 Month USD LIBOR + 2.70%) due 12/22/284,5		17,000,000		17,054,344
Steele Creek CLO Ltd.
2017-1A, 3.29% (3 Month USD LIBOR + 1.85%) due 08/21/264,5		16,800,000		16,839,567
Northwoods Capital XI Ltd.
2017-11A, 2.96% (3 Month USD LIBOR + 1.60%) due 04/15/254,5		16,750,000		16,752,491
MP CLO VI Ltd.
2017-2A, 2.96% (3 Month USD LIBOR + 1.60%) due 01/15/274,5		14,500,000		14,542,754
Northwoods Capital X Ltd.
2017-10A, 2.94% (3 Month USD LIBOR + 1.55%) due 11/04/254,5		14,500,000		14,516,707
Venture XVI CLO Ltd.
2017-16A, 2.86% (3 Month USD LIBOR + 1.50%) due 04/15/264,5		14,500,000		14,506,326
Anchorage Capital CLO 4 Ltd.
2017-4A, 3.06% (3 Month USD LIBOR + 1.68%) due 07/28/264,5		14,400,000		14,447,542
Marathon CLO VI Ltd.
2017-6A, 3.01% (3 Month USD LIBOR + 1.60%) due 05/13/254,5		14,050,000		14,124,214
Great Lakes CLO Ltd.
2015-1A, 3.31% (3 Month USD LIBOR + 1.95%) due 07/15/264,5		10,000,000		10,024,232
2015-1A, 4.06% (3 Month USD LIBOR + 2.70%) due 07/15/264,5		4,000,000		4,004,072
TICP CLO II Ltd.
2017-2A, 2.91% (3 Month USD LIBOR + 1.55%) due 07/20/264,5		14,000,000		14,014,532
Catamaran CLO Ltd.
2016-1A, 3.58% (3 Month USD LIBOR + 1.95%) due 12/20/234,5		12,000,000		12,011,713
2016-2A, 3.40% (3 Month USD LIBOR + 2.05%) due 10/18/264,5		1,750,000		1,758,005
AIMCO CLO Series
2017-AA, 2.46% (3 Month USD LIBOR + 1.10%) due 07/20/264,5		8,700,000		8,702,978
2015-AA, 3.66% (3 Month USD LIBOR + 2.30%) due 01/15/284,5		5,000,000		5,000,000
FDF I Ltd.
2015-1A, 4.40% due 11/12/305		13,000,000		12,976,442
Octagon Investment Partners XVII Ltd.
2017-1A, 2.82% (3 Month USD LIBOR + 1.45%) due 10/25/254,5		13,000,000		12,968,660
Seneca Park CLO Limited
2017-1A, 2.85% (3 Month USD LIBOR + 1.50%) due 07/17/264,5		12,900,000		12,937,121
Dryden 31 Senior Loan Fund
2017-31A, 2.85% (3 Month USD LIBOR + 1.50%) due 04/18/264,5		12,850,000		12,854,902
Marathon CLO VII Ltd.
2017-7A, 3.03% (3 Month USD LIBOR + 1.65%) due 10/28/254,5		12,600,000		12,703,733
Vibrant CLO III Ltd.
2016-3A, 3.41% (3 Month USD LIBOR + 2.05%) due 04/20/264,5		12,000,000		12,048,430
OZLM VIII Ltd.
2017-8A, 2.48% (3 Month USD LIBOR + 1.13%) due 10/17/264,5		12,000,000		12,020,558
Sudbury Mill CLO Ltd.
2017-1A, 3.00% (3 Month USD LIBOR + 1.65%) due 01/17/264,5		11,850,000		11,917,473
AMMC CLO XV Ltd.
2016-15A, 3.44% (3 Month USD LIBOR + 1.90%) due 12/09/264,5		11,600,000		11,651,028
Madison Park Funding XIV Ltd.
2017-14A, 2.91% (3 Month USD LIBOR + 1.55%) due 07/20/264,5		6,400,000		6,424,167
2017-14A, 2.48% (3 Month USD LIBOR + 1.12%) due 07/20/264,5		5,211,000		5,222,561

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.4% (continued)
Collateralized Loan Obligations - 26.9% (continued)
TCP Waterman CLO Ltd.
2016-1A, 3.64% (3 Month USD LIBOR + 2.05%) due 12/15/284,5		7,150,000	$	7,259,668
2016-1A, 3.89% (3 Month USD LIBOR + 2.30%) due 12/15/284,5		4,000,000		4,017,438
Recette Clo Ltd.
2017-1A, 2.66% (3 Month USD LIBOR + 1.30%) due 10/20/274,5		11,000,000		10,992,061
Treman Park CLO Ltd.
2015-1A, due 04/20/275,6		13,600,000		10,642,069
Regatta IV Funding Ltd.
2017-1A, 2.39% (3 Month USD LIBOR + 1.02%) due 07/25/264,5		10,500,000		10,497,734
Venture XVII CLO Ltd.
2017-17A, 2.44% (3 Month USD LIBOR + 1.08%) due 07/15/264,5		10,100,000		10,087,996
Nelder Grove CLO Ltd.
2017-1A, 3.27% (3 Month USD LIBOR + 1.80%) due 08/28/264,5		10,050,000		10,062,542
Ares XXXIII CLO Ltd.
2016-1A, 3.44% (3 Month USD LIBOR + 1.95%) due 12/05/254,5		9,800,000		9,853,821
Bsprt Issuer Ltd.
2017-FL1, 2.83% (1 Month USD LIBOR + 1.35%) due 06/15/274,5		9,690,000		9,723,256
Shackleton 2015-VIII CLO Ltd.
2017-8A, 2.28% (3 Month USD LIBOR + 0.92%) due 10/20/274,5		4,900,000		4,902,220
2017-8A, 2.66% (3 Month USD LIBOR + 1.30%) due 10/20/274,5		4,760,000		4,796,624
Resource Capital Corp.
2015-CRE3, 3.88% (1 Month USD LIBOR + 2.40%) due 03/15/324,5		4,500,000		4,500,946
2015-CRE3, 4.63% (1 Month USD LIBOR + 3.15%) due 03/15/324,5		3,000,000		3,000,702
2015-CRE3, 5.48% (1 Month USD LIBOR + 4.00%) due 03/15/324,5		2,000,000		2,003,300
Dryden 37 Senior Loan Fund
2015-37A, due 04/15/275,6		10,000,000		9,302,400
Garrison Funding Ltd.
2016-2A, 3.64% (3 Month USD LIBOR + 2.20%) due 09/29/274,5		7,000,000		7,045,474
2016-2A, 4.59% (3 Month USD LIBOR + 3.15%) due 09/29/274,5		2,250,000		2,249,135
ACIS CLO Ltd.
2015-6A, 3.86% (3 Month USD LIBOR + 2.48%) due 05/01/274,5		7,500,000		7,576,729
2013-1A, 4.30% (3 Month USD LIBOR + 2.95%) due 04/18/244,5		1,650,000		1,651,312
Palmer Square CLO Ltd.
2017-1A, 2.92% (3 Month USD LIBOR + 1.50%) due 05/15/254,5		8,850,000		8,846,876
Madison Park Funding XVI Ltd.
2016-16A, 3.26% (3 Month USD LIBOR + 1.90%) due 04/20/264,5		8,250,000		8,322,890
Betony CLO Ltd.
2016-1A, 3.31% (3 Month USD LIBOR + 1.95%) due 04/15/274,5		8,250,000		8,312,716
Crown Point CLO III Ltd.
2017-3A, 2.81% (3 Month USD LIBOR + 1.45%) due 12/31/274,5		8,280,000		8,290,163
Jamestown CLO III Ltd.
2017-3A, 3.11% (3 Month USD LIBOR + 1.75%) due 01/15/264,5		8,000,000		8,069,954
Fifth Street SLF II Ltd.
2015-2A, 3.30% (3 Month USD LIBOR + 1.92%) due 09/29/274,5		8,000,000		8,012,485
KKR CLO 15 Ltd.
2016-15, 2.91% (3 Month USD LIBOR + 1.56%) due 10/18/284,5		7,529,000		7,634,950
Vibrant CLO IV Ltd.
2016-4A, 3.76% (3 Month USD LIBOR + 2.40%) due 07/20/284,5		7,000,000		7,096,393
Regatta III Funding Ltd.
2017-1A, 2.41% (3 Month USD LIBOR + 1.05%) due 04/15/264,5		7,050,000		7,042,264
Cent CLO 21 Ltd.
2017-21A, 3.07% (3 Month USD LIBOR + 1.70%) due 07/27/264,5		7,000,000		7,039,331
Carlyle Global Market Strategies CLO Ltd.
2012-3A, due 10/04/285,6		8,920,000		6,775,138
OCP CLO Ltd.
2016-2A, 4.30% (3 Month USD LIBOR + 2.85%) due 11/22/254,5		6,500,000		6,577,071

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.4% (continued)
Collateralized Loan Obligations - 26.9% (continued)
Fifth Street Senior Loan Fund I LLC
2015-1A, 3.36% (3 Month USD LIBOR + 2.00%) due 01/20/274,5		5,000,000	$	5,004,865
2015-1A, 4.36% (3 Month USD LIBOR + 3.00%) due 01/20/274,5		1,250,000		1,251,038
Avery Point II CLO Ltd.
2013-3X COM, due 01/18/256		7,500,060		6,177,594
Voya CLO Ltd.
2013-1X, due 04/15/246		9,500,000		5,830,610
Symphony CLO XII Ltd.
2017-12A, 2.86% (3 Month USD LIBOR + 1.50%) due 10/15/254,5		5,750,000		5,753,703
OHA Loan Funding Ltd.
2017-1A, 3.41% (3 Month USD LIBOR + 2.05%) due 07/23/254,5		5,300,000		5,316,529
OHA Credit Partners IX Ltd.
2013-9A, due 10/20/255,6		6,000,000		5,298,568
Fortress Credit Opportunities VI CLO Ltd.
2015-6A, 4.24% (3 Month USD LIBOR + 2.70%) due 10/10/264,5		5,000,000		5,004,829
RFTI Issuer Ltd.
2015-FL1, 5.36% (1 Month USD LIBOR + 3.88%) due 08/15/304,5		5,000,000		5,002,890
Dryden XXV Senior Loan Fund
2017-25A, 2.71% (3 Month USD LIBOR + 1.35%) due 10/15/274,5		5,000,000		4,991,656
Mountain Hawk II CLO Ltd.
2013-2A, 3.06% (3 Month USD LIBOR + 1.70%) due 07/22/244,5		5,000,000		4,978,805
Benefit Street Partners CLO V Ltd.
2017-VA, 3.01% (3 Month USD LIBOR + 1.65%) due 10/20/264,5		4,500,000		4,508,867
Oaktree CLO 2015-1 Ltd.
2017-1A, 2.37% (3 Month USD LIBOR + 0.87%) due 10/20/274,5		4,500,000		4,506,429
Cereberus ICQ Levered LLC
2015-1A, 4.41% (3 Month USD LIBOR + 3.05%) due 11/06/254,5		2,250,000		2,249,669
2015-1A, 3.41% (3 Month USD LIBOR + 2.05%) due 11/06/254,5		2,077,375		2,077,910
Halcyon Loan Advisors Funding Ltd.
2012-2A, 4.48% (3 Month USD LIBOR + 2.85%) due 12/20/244,5		4,000,000		4,010,793
OZLM Funding II Ltd.
2016-2A, 4.13% (3 Month USD LIBOR + 2.75%) due 10/30/274,5		3,750,000		3,764,613
Cent CLO
2014-16A, 3.63% (3 Month USD LIBOR + 2.25%) due 08/01/244,5		1,750,000		1,752,900
2014-16A, 4.58% (3 Month USD LIBOR + 3.20%) due 08/01/244,5		1,750,000		1,750,949
Atrium XI
2017-11A, 2.86% (3 Month USD LIBOR + 1.50%) due 10/23/254,5		3,500,000		3,501,862
Eaton Vance CLO Ltd.
2017-1A, 2.96% (3 Month USD LIBOR + 1.60%) due 07/15/264,5		3,400,000		3,403,515
Oaktree EIF I Series A1 Ltd.
2016-A, 5.01% (3 Month USD LIBOR + 3.65%) due 01/20/274,5		3,250,000		3,250,751
MONROE CAPITAL BSL CLO Ltd.
2017-1A, 3.20% (3 Month USD LIBOR + 1.75%) due 05/22/274,5		3,000,000		3,009,137
AMMC CLO XI Ltd.
2016-11A, 4.23% (3 Month USD LIBOR + 2.85%) due 10/30/234,5		3,000,000		3,005,029
Atlas Senior Loan Fund VI Ltd.
2017-6A, 3.76% (3 Month USD LIBOR + 2.40%) due 10/15/264,5		3,000,000		2,991,252
FS Senior Funding Ltd.
2015-1A, 3.16% (3 Month USD LIBOR + 1.80%) due 05/28/254,5		2,500,000		2,509,986
Octagon Investment Partners 24 Ltd.
2017-1A, 2.79% (3 Month USD LIBOR + 1.35%) due 05/21/274,5		2,500,000		2,500,797
Mountain Hawk I CLO Ltd.
2013-1A, 3.54% (3 Month USD LIBOR + 2.18%) due 01/20/244,5		2,500,000		2,499,893
Ocean Trails CLO IV
2017-4A, 3.21% (3 Month USD LIBOR + 1.80%) due 08/13/254,5		2,500,000		2,493,880

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.4% (continued)
Collateralized Loan Obligations - 26.9% (continued)
NXT Capital CLO 2014-1 LLC
2017-1A, 2.76% (3 Month USD LIBOR + 1.40%) due 04/23/264,5		2,300,000	$	2,297,360
Venture XIII CLO Ltd.
2013-13A, due 09/10/295,6		3,700,000		2,284,604
NewStar Arlington Senior Loan Program LLC
2014-1A, 3.97% (3 Month USD LIBOR + 2.60%) due 07/25/254,5		1,000,000		984,076
2014-1A, 4.76% due 07/25/255		700,000		700,281
2014-1A, 4.67% (3 Month USD LIBOR + 3.30%) due 07/25/254,5		400,000		396,593
LMREC, Inc.
2015-CRE1, 5.03% (1 Month USD LIBOR + 3.50%) due 02/22/324,5		2,000,000		2,011,288
Octagon Investment Partners XVI Ltd.
2013-1A, 4.10% (3 Month USD LIBOR + 2.75%) due 07/17/254,5		2,000,000		2,003,973
NewStar Clarendon Fund CLO LLC
2015-1A, 4.72% (3 Month USD LIBOR + 3.35%) due 01/25/274,5		2,000,000		2,001,322
Ivy Hill Middle Market Credit Fund IX Ltd.
2017-9A, 3.77% (3 Month USD LIBOR + 2.35%) due 01/18/304,5		1,000,000		999,666
2017-9A, 3.17% (3 Month USD LIBOR + 1.75%) due 01/18/304,5		1,000,000		999,637
Dryden 38 Senior Loan Fund
2015-38A, 3.36% (3 Month USD LIBOR + 2.00%) due 07/15/274,5		1,850,000		1,854,213
ING Investment Management CLO Ltd.
2007-4A, 3.56% (3 Month USD LIBOR + 2.20%) due 06/14/224,5		1,500,000		1,501,796
Westchester CLO Ltd.
2007-1A, 1.82% (3 Month USD LIBOR + 0.44%) due 08/01/224,5		1,316,775		1,315,151
Rockwall CDO II Ltd.
2007-1A, 1.93% (3 Month USD LIBOR + 0.55%) due 08/01/244,5		1,195,563		1,194,751
Lime Street CLO Ltd.
2007-1A, 4.13% (3 Month USD LIBOR + 2.50%) due 06/20/214,5		1,000,000		992,541
Babson CLO Ltd.
2014-IA, due 07/20/255,6		1,300,000		638,550
2012-2A, due 05/15/235,6		4,750,000		57,528
Voya CLO 2013-1 Ltd.
2013-1A, due 10/15/305,6		1,075,071		659,823
Atlas Senior Loan Fund II Ltd.
2012-2A, due 01/30/245,6		1,200,000		658,666
Ares XXVI CLO Ltd.
2013-1A, due 04/15/255,6		4,300,000		632,549
GoldenTree Credit Opportunities Financing Ltd.
2012-1A, 5.57% (3 Month USD LIBOR + 4.25%) due 06/15/284,5		500,000		501,320
Great Lakes CLO 2014-1 Ltd.
2014-1A, due 10/15/295,6		461,538		415,119
Grayson CLO Ltd.
2006-1A, 1.79% (3 Month USD LIBOR + 0.41%) due 11/01/214,5		319,590		319,065
Copper River CLO Ltd.
2007-1A, due 01/20/216,7		1,500,000		166,056
Keuka Park CLO Ltd.
2013-1A, due 10/21/245,6		982,957		90,791
Eastland CLO Ltd.
2007-1A, 1.78% (3 Month USD LIBOR + 0.40%) due 05/01/224,5		74,131		74,014
Total Collateralized Loan Obligations				2,416,925,085
Transport-Aircraft - 2.8%
Apollo Aviation Securitization Equity Trust
2016-2, 4.21% due 11/15/41		32,226,390		32,158,070
2016-1A, 4.88% due 03/17/365		19,222,500		19,573,493
2014-1, 5.13% (WAC) due 12/15/294		6,342,190		6,325,602
2014-1, 7.38% (WAC) due 12/15/294		1,972,567		1,972,567
KDAC Aviation Finance Ltd.
2017-1A, 4.21% due 12/15/425		45,000,000		45,124,515

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.4% (continued)
Transport-Aircraft - 2.8% (continued)
Castlelake Aircraft Securitization Trust
2017-1, 3.97% due 07/15/42		20,668,275	$	20,616,604
2015-1A, 4.70% due 12/15/405		14,432,779		14,505,040
AIM Aviation Finance Ltd.
2015-1A, 4.21% due 02/15/405		24,450,608		24,442,551
2015-1A, 5.07% due 02/15/405		2,037,551		1,994,121
Raspro Trust
2005-1A, 1.99% (3 Month USD LIBOR + 0.63%) due 03/23/244,5		18,909,759		18,058,820
ECAF I Ltd.
2015-1A, 4.95% due 06/15/225		15,016,821		15,034,129
2015-1A, 3.47% due 06/15/405		1,213,169		1,198,136
Falcon Aerospace Ltd.
2017-1, 4.58% due 02/15/425		15,677,040		15,855,476
AASET Trust
2017-1A, 3.97% due 05/16/425		11,549,450		11,589,937
Diamond Head Aviation Ltd.
2015-1, 3.81% due 07/14/285		3,689,712		3,682,545
Rise Ltd.
2014-1A, 4.74% due 02/12/39		3,348,741		3,386,414
Atlas Ltd.
2014-1 A, 4.87% due 12/15/39		3,188,149		3,193,887
AABS Ltd.
2013-1 A, 4.87% due 01/10/38		2,574,630		2,600,052
Eagle I Ltd.
2014-1A, 4.31% due 12/15/395		2,465,000		2,448,740
Emerald Aviation Finance Ltd.
2013-1, 4.65% due 10/15/385		1,456,602		1,485,912
2013-1, 6.35% due 10/15/385		312,129		319,660
Stripes Aircraft Ltd.
2013-1 A1, 5.00% due 03/20/23†††		1,482,618		1,457,147
Turbine Engines Securitization Ltd.
2013-1A, 5.13% due 12/13/487		1,042,915		1,044,605
Willis Engine Securitization Trust II
2012-A, 5.50% due 09/15/375		996,240		976,116
AASET
2014-1 C, 10.00% due 12/15/29		163,916		163,916
Airplanes Pass Through Trust
2001-1A, 1.78% (1 Month USD LIBOR + 0.55%) due 03/15/194,7		471,555		84,597
Total Transport-Aircraft				249,292,652
Whole Business - 1.6%
Domino's Pizza Master Issuer LLC
2017-1A, 3.08% due 07/25/475		23,241,750		22,986,556
2017-1A, 4.12% due 07/25/475		17,296,650		17,671,641
2017-1A, 2.62% (3 Month USD LIBOR + 1.25%) due 07/25/474,5		17,157,000		17,189,084
Taco Bell Funding LLC
2016-1A, 4.97% due 05/25/465		27,255,000		28,637,101
2016-1A, 4.38% due 05/25/465		5,233,750		5,399,241
2016-1A, 3.83% due 05/25/465		2,403,575		2,436,191
Jimmy Johns Funding LLC
2017-1A, 3.61% due 07/30/475		22,892,625		22,980,762
Wendys Funding LLC
2015-1A, 4.50% due 06/15/455		12,169,875		12,449,539
DB Master Finance LLC
2015-1A, 3.98% due 02/20/455		7,264,575		7,415,024
2017-1A, 3.63% due 11/20/475		108,000		108,704
Drug Royalty III Limited Partnership
2016-1A, 3.98% due 04/15/275		3,067,004		3,062,084
Sonic Capital LLC
2016-1A, 4.47% due 05/20/465		2,485,417		2,520,685
Drug Royalty III Limited Partnership 1
2017-1A, 3.60% due 04/15/275		2,443,010		2,421,912
Total Whole Business				145,278,524
Net Lease - 1.3%
Capital Automotive LLC
2017-1A, 3.87% due 04/15/475		49,617,000		50,311,107
Store Master Funding I-VII
2016-1A, 3.96% due 10/20/465		30,556,831		30,236,934
2016-1A, 4.32% due 10/20/465		10,525,800		10,761,926

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.4% (continued)
Net Lease - 1.3% (continued)
Spirit Master Funding LLC
2014-2A, 5.76% due 03/20/415		4,878,428	$	5,136,985
2014-4A, 4.63% due 01/20/455		4,234,228		4,451,674
Store Master Funding I LLC
2015-1A, 4.17% due 04/20/455		7,843,013		8,014,579
2015-1A, 3.75% due 04/20/455		1,480,000		1,491,042
Capital Automotive REIT
2014-1A, 3.66% due 10/15/445		4,500,000		4,510,905
Store Master Funding LLC
2013-1A, 4.16% due 03/20/435		1,701,501		1,707,140
Total Net Lease				116,622,292
Collateralized Debt Obligations - 1.2%
Anchorage Credit Funding Ltd.
2016-4A, 3.50% due 02/15/355		55,600,000		55,109,006
2016-3A, 3.85% due 10/28/335		7,500,000		7,460,598
Putnam Structured Product Funding Ltd.
2003-1A, 2.48% (1 Month USD LIBOR + 1.00%) due 10/15/384,5		20,943,107		19,970,666
RB Commercial Trust
2012-RS1, 5.35% due 01/26/225		15,722,295		16,004,274
Highland Park CDO I Ltd.
2006-1A, 1.86% (3 Month USD LIBOR + 0.40%) due 11/25/514,7		3,486,103		3,342,468
Anchorage Credit Funding 1 Ltd.
2015-1A, 4.30% due 07/28/305		3,000,000		3,071,600
JPMCC Re-REMIC Trust
2014-FRR1, 2.37% (WAC) due 04/27/444,5		3,000,000		2,975,340
N-Star REL CDO VIII Ltd.
2006-8A, 1.72% (1 Month USD LIBOR + 0.36%) due 02/01/414,5		1,943,473		1,940,491
Total Collateralized Debt Obligations				109,874,443
Single Family Residence - 0.8%
Invitation Homes 2017-SFR2 Trust
2017-SFR2, 2.34% (1 Month USD LIBOR + 0.85%) due 12/17/364,5		47,301,509		47,453,332
Progress Residential 2017
2017-SFR2, 2.90% due 12/17/345		17,000,000		16,898,872
Colony American Finance 2016-1 Ltd.
2016-1, 2.54% due 06/15/485		7,796,325		7,727,215
CoreVest American Finance 2017-1 Trust
2017-1, 3.36% due 10/15/495		2,250,000		2,237,630
Total Single Family Residence				74,317,049
Transport-Container - 0.8%
Textainer Marine Containers Ltd.
2017-2A, 3.52% due 06/20/425		45,507,327		45,526,791
Textainer Marine Containers V Ltd.
2017-1A, 3.72% due 05/20/425		13,283,313		13,362,202
Cronos Containers Program Ltd.
2013-1A, 3.08% due 04/18/285		8,453,333		8,424,202
CLI Funding V LLC
2013-1A, 2.83% due 03/18/285		4,262,875		4,202,263
2013-2A, 3.22% due 06/18/285		1,208,527		1,201,008
Total Transport-Container				72,716,466
Automotive - 0.7%
Hertz Vehicle Financing II, LP
2015-1A, 2.73% due 03/25/215		36,450,000		36,556,602
2017-1A, 2.96% due 10/25/215		2,000,000		1,996,301
Hertz Vehicle Financing LLC
2016-4A, 2.65% due 07/25/225		17,150,000		16,836,236
2016-2A, 2.95% due 03/25/225		3,000,000		2,990,912
Total Automotive				58,380,051
Transport-Rail - 0.1%
TRIP Rail Master Funding LLC
2017-1A, 2.71% due 08/15/475		6,805,822		6,779,216
NP SPE II LLC
2017-1A, 3.37% due 10/21/475		2,725,581		2,708,575
Total Transport-Rail				9,487,791
Industrial - 0.1%
Agnico-Eagle Mines Ltd.
4.84% due 06/30/26†††		6,000,000		6,266,890
Insurance - 0.1%
Chesterfield Financial Holdings LLC
2014-1A, 4.50% due 12/15/345		4,537,500		4,536,638
Financial - 0.0%
Industrial DPR Funding Ltd.
2016-1A, 5.24% due 04/15/26†††,5		4,000,000		3,892,348

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
ASSET-BACKED SECURITIES†† - 36.4% (continued)
Financial - 0.0% (continued)
Hana Small Business Lending Loan Trust
2014-2014, 4.23% (WAC) due 01/25/404,5		458,707	$	456,964
Total Financial				4,349,312
Diversified Payment Rights - 0.0%
CCR Incorporated MT100 Payment Rights Master Trust
2012-CA, 4.75% due 07/10/225		622,024		627,265
CIC Receivables Master Trust
REGD, 4.89% due 10/07/21†††		376,608		388,969
Total Diversified Payment Rights				1,016,234
Total Asset-Backed Securities
(Cost $3,257,233,176)				3,269,063,427

COLLATERALIZED MORTGAGE OBLIGATIONS†† - 32.5%
Government Agency - 13.1%
Freddie Mac Multifamily Structured Pass Through Certificates
2017-KIR3, 3.28% due 08/25/27	91,932,800	94,796,360
2017-KGX1, 3.00% due 10/25/27	81,400,000	81,422,580
2017-K065, 3.24% due 04/25/27	72,500,000	74,715,723
2017-K070, 3.30% (WAC) due 11/25/274	69,975,000	72,381,783
2017-KW03, 3.02% due 06/25/27	65,900,000	66,187,542
2017-K066, 3.20% due 06/25/27	19,507,000	19,925,177
2016-K060, 3.30% (WAC) due 10/25/264	18,750,000	19,325,290
2017-K061, 3.44% (WAC) due 11/25/264	15,000,000	15,551,697
2017-K067, 3.28% due 08/25/27	12,968,000	13,284,370
2017-K066, 3.12% due 06/25/27	10,000,000	10,204,237
2017-K069, 3.25% due 09/25/27	10,000,000	10,203,798
2016-K057, 2.62% due 08/25/26	10,000,000	9,742,892
2016-K152, 3.08% due 01/25/31	7,090,000	7,107,717
2017-K070, 3.36% (WAC) due 12/25/274	6,000,000	6,186,442
2015-K151, 3.51% due 04/25/30	2,105,000	2,201,009
2015-K043, 0.55% (WAC) due 12/25/244	44,602,376	1,468,921
2014-K715, 2.86% due 01/25/21	450,000	456,518
Fannie Mae
#AN6890, 2.89% due 10/01/29	38,458,000	38,055,759
#AN6858, 3.01% due 09/01/29	36,899,000	37,027,859
#AN6696, 3.12% due 10/01/32	24,800,000	24,621,688
3.23% due 01/01/33	23,750,000	24,248,177
3.17% due 02/01/28	21,350,000	21,689,684
#AN7520, 2.90% due 11/01/29	21,078,000	20,775,162
#AN6088, 2.87% due 09/01/29	20,000,000	19,750,714
#AN6807, 2.96% due 11/01/29	18,620,000	18,467,249
#AN6433, 3.42% due 09/01/47	13,317,153	13,260,532
#AN7964, 3.07% due 01/01/28	13,100,000	13,174,042
#AN6928, 2.82% due 10/01/29	12,100,000	11,931,611
#AN7661, 3.03% due 12/01/27	10,900,000	10,925,252
#AN6653, 3.08% due 10/01/32	10,250,000	10,249,780
#AN7049, 3.05% due 10/01/29	9,100,000	9,105,068
#AN7890, 3.06% due 12/01/27	9,000,000	9,040,740
3.04% due 01/01/28	8,900,000	8,926,521
#AN6651, 2.94% due 10/01/32	8,725,242	8,621,527
3.08% due 01/01/30	8,500,000	8,561,332
3.19% due 02/01/30	7,700,000	7,855,348
#BA1742, 3.50% due 12/01/45	7,526,418	7,734,093
3.31% due 01/01/33	7,500,000	7,647,014
3.14% due 01/01/28	6,900,000	6,973,453
#AN6349, 2.99% due 09/01/29	6,800,000	6,775,001
3.21% due 01/01/33	5,500,000	5,536,636
3.10% due 01/01/33	4,800,000	4,803,384
3.22% due 01/01/30	4,650,000	4,758,031
3.11% due 01/01/28	4,600,000	4,617,293
#AS6528, 4.00% due 01/01/46	3,548,062	3,715,818
#AN7537, 3.11% due 11/01/27	3,500,000	3,525,729
3.16% due 01/01/30	2,900,000	2,925,329
3.12% due 02/01/28	2,600,000	2,649,672
#AN3466, 3.26% due 11/01/46	2,602,022	2,540,111
#AN7503, 3.51% due 11/01/37	2,150,000	2,202,815
#AS7580, 3.00% due 07/01/46	2,140,121	2,141,232
#AL6307, 4.50% due 02/01/45	1,772,413	1,890,468

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 32.5% (continued)
Government Agency - 13.1% (continued)
#AN7648, 3.14% due 12/01/32		1,600,000	$	1,640,372
3.27% due 01/01/30		1,350,000		1,385,181
#AN2284, 3.27% due 08/01/34		1,369,016		1,384,004
#AN7343, 3.02% due 11/01/27		1,300,000		1,302,229
#AS2523, 5.00% due 05/01/44		980,014		1,054,796
#AN7025, 3.60% due 10/01/47		997,509		1,014,981
#AN8074, 3.13% due 01/01/30		1,000,000		1,011,847
#AX3215, 4.50% due 09/01/44		912,423		972,471
#AL4290, 4.50% due 10/01/43		823,555		878,266
#AL6671, 5.00% due 12/01/44		745,693		802,594
#AN3562, 3.63% due 01/01/37		743,455		759,654
#MA1525, 3.50% due 08/01/43		735,847		759,477
#AN3620, 2.75% due 11/01/31		668,892		654,233
#AS7386, 3.50% due 06/01/46		92,111		94,632
Seasoned Credit Risk Transfer Trust Series 2017-1
2017-4, 2.25% due 06/25/57		71,400,000		71,138,962
2017-4, 3.50% due 06/25/57		34,750,000		35,511,511
Fannie Mae-Aces
2017-M11, 2.98% due 08/25/29		52,100,000		51,534,996
2017-M8, 3.06% (WAC) due 05/25/274		16,250,000		16,442,285
Freddie Mac Seasoned Credit Risk Transfer
2017-3, 3.00% due 07/25/56		63,830,390		62,657,705
Freddie Mac
#WN0005, 3.55% due 10/01/33		4,741,352		4,917,074
#G08694, 4.00% due 02/01/46		3,234,290		3,386,846
#G60038, 3.50% due 01/01/44		2,977,958		3,069,249
#G08677, 4.00% due 11/01/45		2,483,388		2,600,439
#G08715, 3.00% due 08/01/46		2,167,181		2,168,377
#WA2500, 3.26% due 09/01/45		1,991,340		1,955,359
#WN3001, 3.40% due 04/01/31		1,000,000		1,036,432
Seasoned Credit Risk Transfer Trust Series
2017-3, 2.25% due 07/25/56		9,763,569		9,664,629
FREMF Mortgage Trust
2013-K29, 0.13% due 05/25/465,9		806,617,670		4,108,427
Total Government Agency				1,175,793,208
Residential Mortgage Backed Securities - 12.9%
Soundview Home Loan Trust
2006-OPT5, 1.69% (1 Month USD LIBOR + 0.14%) due 07/25/364		97,295,225		94,808,680
2007-1, 1.72% (1 Month USD LIBOR + 0.17%) due 03/25/374		4,050,687		4,024,496
2005-OPT3, 2.02% (1 Month USD LIBOR + 0.47%) due 11/25/354		3,930,000		3,865,776
RALI Series Trust
2006-QO5, 1.77% (1 Month USD LIBOR + 0.22%) due 05/25/464		24,536,201		22,830,283
2006-QO10, 1.71% (1 Month USD LIBOR + 0.16%) due 01/25/374		14,887,713		13,971,624
2007-QO4, 1.51% (1 Month USD LIBOR + 0.19%) due 05/25/474		11,902,027		11,471,029
2006-QO2, 1.77% (1 Month USD LIBOR + 0.22%) due 02/25/464		22,703,695		10,011,428
2007-QO2, 1.70% (1 Month USD LIBOR + 0.15%) due 02/25/474		12,530,998		8,047,594
2007-QO4, 1.75% (1 Month USD LIBOR + 0.20%) due 05/25/474		5,536,315		5,340,917
2005-QO1, 1.85% (1 Month USD LIBOR + 0.30%) due 08/25/354		5,663,590		5,009,903
2006-QS8, 2.00% (1 Month USD LIBOR + 0.45%) due 08/25/364		4,742,948		3,514,379
2005-QO1, 2.56% (1 Year CMT Rate + 1.50%) due 08/25/354		3,744,843		3,500,393
2006-QO2, 1.82% (1 Month USD LIBOR + 0.27%) due 02/25/464		5,596,642		2,543,875
2007-QO3, 1.71% (1 Month USD LIBOR + 0.16%) due 03/25/474		2,266,310		2,069,557
CIT Mortgage Loan Trust
2007-1, 2.90% (1 Month USD LIBOR + 1.35%) due 10/25/374,5		71,485,346		71,838,741

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 32.5% (continued)
Residential Mortgage Backed Securities - 12.9% (continued)
2007-1, 3.00% (1 Month USD LIBOR + 1.45%) due 10/25/374,5		5,436,032	$	5,469,342
Towd Point Mortgage Trust
2017-5, 2.15% (1 Month USD LIBOR + 0.60%) due 02/25/574,5		28,896,429		28,931,708
2017-6, 2.75% (WAC) due 10/25/574,5		20,736,376		20,664,093
2017-1, 2.75% (WAC) due 10/25/564,5		20,150,966		20,125,107
2016-1, 2.75% (WAC) due 02/25/554,5		6,153,143		6,154,618
Structured Asset Securities Corporation Mortgage Loan Trust
2008-BC4, 2.18% (1 Month USD LIBOR + 0.63%) due 11/25/374		59,209,027		58,987,544
2006-BC4, 1.72% (1 Month USD LIBOR + 0.17%) due 12/25/364		8,268,718		7,992,710
2006-BC6, 1.72% (1 Month USD LIBOR + 0.17%) due 01/25/374		962,081		932,484
American Home Mortgage Investment Trust
2007-1, 2.08% due 05/25/4710		208,214,251		42,142,606
2006-1, 1.61% (1 Month USD LIBOR + 0.28%) due 03/25/464		7,737,534		7,427,972
2006-1, 1.73% (1 Month USD LIBOR + 0.40%) due 03/25/464		3,471,144		3,357,813
FirstKey Master Funding
2017-R1, 1.59% (1 Month USD LIBOR + 0.22%) due 11/03/41†††,4,5		44,651,878		44,071,599
CIM Trust
2017-2, 3.36% (1 Month USD LIBOR + 2.00%) due 12/25/574,5		32,653,031		32,992,616
First NLC Trust
2005-4, 1.94% (1 Month USD LIBOR + 0.39%) due 02/25/364		29,100,962		27,585,130
2005-1, 1.79% (1 Month USD LIBOR + 0.46%) due 05/25/354		3,180,731		3,037,814
HSI Asset Securitization Corporation Trust
2006-OPT2, 1.94% (1 Month USD LIBOR + 0.39%) due 01/25/364		29,140,000		28,709,212
Countrywide Asset-Backed Certificates
2006-6, 1.72% (1 Month USD LIBOR + 0.17%) due 09/25/364		28,474,139		26,782,892
2005-15, 1.78% (1 Month USD LIBOR + 0.45%) due 03/25/364		1,500,000		1,425,595
Nationstar Home Equity Loan Trust
2007-B, 1.54% (1 Month USD LIBOR + 0.22%) due 04/25/374		26,974,858		26,708,697
Angel Oak Mortgage Trust LLC 2015-1
2017-3, 2.71% (WAC) due 11/25/47†††,4,5		26,111,403		26,052,650
Bear Stearns Asset Backed Securities I Trust
2006-HE9, 1.69% (1 Month USD LIBOR + 0.14%) due 11/25/364		18,813,043		18,370,470
2006-HE3, 1.91% (1 Month USD LIBOR + 0.36%) due 04/25/364		7,600,000		7,531,029
Washington Mutual Mortgage Pass-Through Certificates WMALT Series Trust
2006-AR9, 1.89% (1 Year CMT Rate + 0.83%) due 11/25/464		19,003,172		16,264,111
2006-AR9, 1.90% (1 Year CMT Rate + 0.84%) due 11/25/464		8,909,950		7,511,480
2006-7, 4.37% due 09/25/36 2		2,941,014		1,487,638
2006-8, 4.51% due 10/25/36 2		499,083		312,572
Credit-Based Asset Servicing & Securitization LLC
2006-CB2, 1.74% (1 Month USD LIBOR + 0.19%) due 12/25/364		23,210,804		23,146,619
American Home Mortgage Assets Trust
2006-4, 1.74% (1 Month USD LIBOR + 0.19%) due 10/25/464		13,399,440		9,771,947
2007-1, 1.70% (1 Year CMT Rate + 0.70%) due 02/25/474		11,336,641		7,235,685
2006-5, 1.92% (1 Year CMT Rate + 0.92%) due 11/25/464		4,908,830		2,794,192
2006-6, 1.74% (1 Month USD LIBOR + 0.19%) due 12/25/464		3,243,508		2,718,810

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 32.5% (continued)
Residential Mortgage Backed Securities - 12.9% (continued)
Freddie Mac Structured Agency Credit Risk Debt Notes
2015-DNA1, 3.40% (1 Month USD LIBOR + 1.85%) due 10/25/274		21,760,000	$	22,293,721
Deutsche Alt-A Securities Mortgage Loan Trust Series
2006-AF1, 1.85% (1 Month USD LIBOR + 0.30%) due 04/25/364		9,778,469		8,921,748
2006-OA1, 1.75% (1 Month USD LIBOR + 0.20%) due 02/25/474		6,691,095		6,415,872
2007-OA2, 1.77% (1 Year CMT Rate + 0.77%) due 04/25/474		4,772,156		4,405,086
WaMu Mortgage Pass-Through Certificates Series Trust
2007-OA6, 1.81% (1 Year CMT Rate + 0.81%) due 07/25/474		9,595,408		8,787,688
2007-OA3, 1.77% (1 Year CMT Rate + 0.77%) due 04/25/474		6,114,359		5,453,432
2006-AR13, 1.88% (1 Year CMT Rate + 0.88%) due 10/25/464		2,231,471		1,998,913
2006-AR11, 1.92% (1 Year CMT Rate + 0.92%) due 09/25/464		1,790,637		1,647,327
CSMC Series
2015-12R, 1.83% (1 Month USD LIBOR + 0.50%) due 11/30/374,5		17,180,487		17,129,698
Lehman XS Trust Series
2007-2N, 1.73% (1 Month USD LIBOR + 0.18%) due 02/25/374		10,306,249		8,587,455
2007-15N, 1.80% (1 Month USD LIBOR + 0.25%) due 08/25/374		5,152,515		4,974,069
2005-7N, 1.82% (1 Month USD LIBOR + 0.27%) due 12/25/354		2,791,738		2,770,154
Deephaven Residential Mortgage Trust 2017-3
2017-3A, 2.58% (WAC) due 10/25/474,5		14,994,110		14,993,178
Stanwich Mortgage Loan Co.
2016-NPA1, 3.84% (WAC) due 10/16/464,5		14,941,683		14,844,371
Impac Secured Assets CMN Owner Trust
2005-2, 1.80% (1 Month USD LIBOR + 0.25%) due 03/25/364		15,705,915		13,748,251
Wachovia Asset Securitization Issuance II LLC Trust
2007-HE1, 1.69% (1 Month USD LIBOR + 0.14%) due 07/25/374,5		7,954,599		7,585,966
2007-HE2A, 1.68% (1 Month USD LIBOR + 0.13%) due 07/25/374,5		6,595,865		6,055,244
GSMSC Resecuritization Trust
2015-5R, 1.46% (1 Month USD LIBOR + 0.14%) due 02/26/374,5		13,772,372		13,046,318
Stanwich Mortgage Loan Company LLC
2017-NPA1, 3.60% due 03/16/225		11,705,194		11,758,301
Bayview Opportunity Master Fund IVb Trust
2017-NPL1, 3.60% due 01/28/325		8,472,279		8,482,475
2017-RN1, 3.60% (WAC) due 02/28/324,5		3,026,031		3,026,100
Citigroup Mortgage Loan Trust, Inc.
2005-HE3, 2.29% (1 Month USD LIBOR + 0.74%) due 09/25/354		11,687,000		11,468,915
GCAT
2017-1, 3.38% due 03/25/475		9,916,707		9,910,640
Alternative Loan Trust
2007-OA7, 1.73% (1 Month USD LIBOR + 0.18%) due 05/25/474		5,528,594		5,367,931
2005-38, 1.90% (1 Month USD LIBOR + 0.35%) due 09/25/354		4,492,635		4,197,041
VOLT LIV LLC
2017-NPL1, 3.50% due 02/25/475		9,017,622		9,030,642
Nomura Resecuritization Trust
2016-1R, 4.33% (1 Month USD LIBOR + 3.00%) due 01/28/38†††,4,5		5,209,747		5,301,904
2015-4R, 2.39% (1 Month USD LIBOR + 0.43%) due 03/26/364,5		2,105,111		2,023,431
2015-4R, 2.40% (1 Month USD LIBOR + 0.39%) due 12/26/364,5		1,506,123		1,484,259
First Franklin Mortgage Loan Trust
2004-FF10, 2.83% (1 Month USD LIBOR + 1.28%) due 07/25/344		8,595,590		8,715,067

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 32.5% (continued)
Residential Mortgage Backed Securities - 12.9% (continued)
HarborView Mortgage Loan Trust
2006-14, 1.65% (1 Month USD LIBOR + 0.15%) due 01/25/474		9,467,890	$	8,562,751
First Frankin Mortgage Loan Trust
2006-FF3, 1.84% (1 Month USD LIBOR + 0.29%) due 02/25/364		8,616,000		8,299,137
Banc of America Funding Trust
2014-R7, 1.69% (1 Month USD LIBOR + 0.14%) due 09/26/364,5		5,326,016		5,153,522
2015-R4, 1.50% (1 Month USD LIBOR + 0.17%) due 01/27/354,5		3,159,258		2,996,145
Morgan Stanley ABS Capital I Incorporated Trust
2006-NC1, 1.93% (1 Month USD LIBOR + 0.38%) due 12/25/354		7,800,000		7,600,076
IndyMac INDX Mortgage Loan Trust
2005-AR18, 2.33% (1 Month USD LIBOR + 0.78%) due 10/25/364		8,468,201		7,305,823
ASG Resecuritization Trust
2010-3, 1.62% (1 Month USD LIBOR + 0.29%) due 12/28/454,5		7,448,451		6,930,337
Structured Asset Investment Loan Trust
2005-11, 2.27% (1 Month USD LIBOR + 0.72%) due 01/25/364		6,855,581		6,782,459
Morgan Stanley Resecuritization Trust
2014-R9, 1.46% (1 Month USD LIBOR + 0.14%) due 11/26/464,5		6,400,267		6,084,222
NRPL Trust
2015-1A, 3.88% due 11/01/545		5,781,788		5,774,841
JP Morgan Mortgage Acquisition Trust
2006-HE2, 1.69% (1 Month USD LIBOR + 0.14%) due 07/25/364		5,814,975		5,766,774
ACE Securities Corporation Home Equity Loan Trust Series
2005-HE2, 2.57% (1 Month USD LIBOR + 1.02%) due 04/25/354		5,700,000		5,734,079
GE-WMC Asset-Backed Pass-Through Certificates Series
2005-2, 1.80% (1 Month USD LIBOR + 0.25%) due 12/25/354		5,652,454		5,677,749
New Residential Mortgage Loan Trust
2017-5A, 3.05% (1 Month USD LIBOR + 1.50%) due 06/25/574,5		5,350,235		5,480,984
Park Place Securities Incorporated Asset-Backed Pass-Through Certificates Series
2005-WCW2, 2.35% (1 Month USD LIBOR + 0.80%) due 07/25/354		5,000,000		5,015,114
Morgan Stanley Capital I Incorporated Trust
2006-HE1, 1.84% (1 Month USD LIBOR + 0.29%) due 01/25/364		4,905,470		4,852,447
VOLT XL LLC
2015-NP14, 4.38% due 11/27/455		4,663,827		4,674,268
Luminent Mortgage Trust
2006-2, 1.75% (1 Month USD LIBOR + 0.20%) due 02/25/464		4,785,964		3,877,568
WaMu Asset-Backed Certificates WaMu Series 2007-HE4 Trust
2007-HE4, 1.57% (1 Month USD LIBOR + 0.25%) due 07/25/474		5,370,932		3,855,531
CWABS Asset-Backed Certificates Trust
2004-15, 2.68% (1 Month USD LIBOR + 1.35%) due 04/25/354		3,490,000		3,533,432
GSAA Home Equity Trust
2006-14, 1.72% (1 Month USD LIBOR + 0.17%) due 09/25/364		5,481,460		2,858,988
2007-7, 1.82% (1 Month USD LIBOR + 0.27%) due 07/25/374		366,949		349,148
GSAA Trust
2005-10, 2.20% (1 Month USD LIBOR + 0.65%) due 06/25/354		3,312,000		3,189,199
BCAP LLC
2014-RR2, 1.93% (WAC) due 03/26/364,5		2,455,299		2,429,438
2014-RR3, 1.40% (WAC) due 10/26/364,5		562,146		556,326

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 32.5% (continued)
Residential Mortgage Backed Securities - 12.9% (continued)
Impac Secured Assets Trust
2006-2, 1.72% (1 Month USD LIBOR + 0.17%) due 08/25/364		2,394,717	$	2,027,623
RFMSI Series Trust
2006-S11, 6.00% due 11/25/36		1,968,377		1,836,719
Alliance Bancorp Trust
2007-OA1, 1.79% (1 Month USD LIBOR + 0.24%) due 07/25/374		1,063,508		866,804
UCFC Manufactured Housing Contract
1997-2, 7.38% due 10/15/28		763,209		808,852
Irwin Home Equity Loan Trust
2007-1, 5.85% due 08/25/375		655,460		654,069
GSAMP Trust
2005-HE6, 1.99% (1 Month USD LIBOR + 0.44%) due 11/25/354		599,665		601,393
GreenPoint Mortgage Funding Trust
2005-HE4, 2.03% (1 Month USD LIBOR + 0.47%) due 07/25/304		567,519		566,445
Morgan Stanley Re-REMIC Trust
2010-R5, 2.67% due 06/26/365		383,021		323,523
Total Residential Mortgage Backed Securities				1,154,996,413
Commercial Mortgage Backed Securities - 4.6%
Wells Fargo Commercial Mortgage Trust
2017-SMP, 2.23% (1 Month USD LIBOR + 0.75%) due 12/15/224,5		30,500,000		30,500,000
2016-C32, 1.35% (WAC) due 01/15/594		124,411,049		9,654,049
2017-C38, 1.09% (WAC) due 07/15/504		74,786,318		5,738,399
2017-RB1, 1.29% (WAC) due 03/15/504		39,926,246		3,702,069
2016-C35, 2.00% (WAC) due 07/15/484		27,348,938		3,436,594
2017-C42, 0.90% (WAC) due 12/15/504		35,500,000		2,556,536
2016-NXS5, 1.55% (WAC) due 01/15/594		30,514,272		2,498,075
2015-NXS4, 0.95% (WAC) due 12/15/484		39,453,448		2,177,795
2017-RC1, 1.57% (WAC) due 01/15/604		21,244,727		2,148,025
2015-P2, 1.02% (WAC) due 12/15/484		34,657,445		1,958,080
2015-C30, 0.96% (WAC) due 09/15/584		32,562,029		1,821,722
2016-C32, 4.72% (WAC) due 01/15/594		1,400,000		1,467,250
2015-NXS1, 1.18% (WAC) due 05/15/484		11,721,442		667,012
2015-NXS4, 4.22% (WAC) due 12/15/484		64,000		66,229
Hospitality Mortgage Trust
2017-HIT, 2.09% (1 Month USD LIBOR + 0.85%) due 05/08/304,5		27,850,000		27,884,793
2017-HIT, 2.59% (1 Month USD LIBOR + 1.35%) due 05/08/304,5		18,500,000		18,499,856
Chicago Skyscraper Trust
2017-SKY, 2.28% (1 Month USD LIBOR + 0.80%) due 02/01/194,5		38,500,000		38,561,508
GAHR Commercial Mortgage Trust
2015-NRF, 3.38% (WAC) due 12/15/344,5		23,829,324		23,655,479
JP Morgan Chase Commercial Mortgage Securities Trust
2016-WIKI, 4.01% (WAC) due 10/05/314,5		17,000,000		16,760,790
2016-JP3, 1.51% (WAC) due 08/15/494		74,402,064		6,841,099
Citigroup Commercial Mortgage Trust
2017-P7, 1.14% (WAC) due 04/14/504		66,494,619		5,304,868
2016-C2, 1.79% (WAC) due 08/10/264		34,320,568		4,040,526
2016-P4, 2.01% (WAC) due 07/10/494		32,716,571		4,013,178
2016-P5, 1.55% (WAC) due 10/10/494		31,697,356		2,999,698
2016-GC37, 1.80% (WAC) due 04/10/494		19,191,220		2,168,543
2015-GC35, 0.89% (WAC) due 11/10/484		34,052,623		1,608,741
2015-GC29, 1.15% (WAC) due 04/10/484		24,637,981		1,424,354
2013-GC15, 4.37% (WAC) due 09/10/464		380,000		409,811
GS Mortgage Securities Corporation Trust
2017-STAY, 2.33% (1 Month USD LIBOR + 0.85%) due 07/15/324,5		10,200,000		10,145,237
2017-STAY, 2.83% (1 Month USD LIBOR + 1.35%) due 07/15/324,5		6,694,000		6,574,200

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 32.5% (continued)
Commercial Mortgage Backed Securities - 4.6% (continued)
2017-STAY, 2.58% (1 Month USD LIBOR + 1.10%) due 07/15/324,5		3,700,000	$	3,632,966
Morgan Stanley Capital I Trust
2017-H1, 1.46% (WAC) due 06/15/504		130,633,361		12,370,470
2015-XLF1, 3.68% (1 Month USD LIBOR + 2.20%) due 08/13/194,5		7,600,000		7,631,541
2016-UBS9, 4.54% (WAC) due 03/15/494		275,000		283,526
JPMCC Commercial Mortgage Securities Trust
2017-JP5, 1.11% (WAC) due 03/15/504		213,787,758		14,802,750
2017-JP6, 1.33% (WAC) due 07/15/504		69,957,042		5,342,032
COMM Mortgage Trust
2015-CR26, 1.04% (WAC) due 10/10/484		92,382,989		5,337,926
2015-CR26, 4.49% (WAC) due 10/10/484		3,780,000		3,671,104
2015-CR23, 0.98% (WAC) due 05/10/484		48,900,025		2,303,656
2015-CR27, 1.15% (WAC) due 10/10/484		31,433,763		1,880,211
2013-CR13, 0.91% (WAC) due 12/10/234		51,444,280		1,708,007
2014-LC15, 1.32% (WAC) due 04/10/474		14,992,521		744,926
2015-CR23, 3.80% due 05/10/48		700,000		720,392
JPMDB Commercial Mortgage Securities Trust
2017-C5, 1.03% (WAC) due 03/15/504		134,234,552		9,411,990
2016-C2, 1.70% (WAC) due 06/15/494		32,870,989		3,017,103
2016-C4, 0.84% (WAC) due 12/15/494		33,830,554		1,982,088
VSD
2017-PLT1 A, 3.60% due 12/25/43		12,743,033		12,737,906
Morgan Stanley Bank of America Merrill Lynch Trust
2014-C19, 4.75% due 12/15/46†††,5		7,247,357		7,362,685
2015-C27, 1.02% (WAC) due 12/15/474		76,708,750		4,477,635
JPMDB Commercial Mortgage Securities Trust 2017-C7
2017-C7, 0.92% (WAC) due 10/15/504		139,375,614		9,290,597
BANK
2017-BNK4, 1.46% (WAC) due 05/15/504		56,806,790		5,422,452
2017-BNK6, 0.88% (WAC) due 07/15/604		44,284,377		2,712,794
UBS Commercial Mortgage Trust
2017-C5, 1.04% (WAC) due 11/15/504		54,720,370		3,954,625
2017-C2, 1.16% (WAC) due 08/15/504		46,189,378		3,742,037
JPMBB Commercial Mortgage Securities Trust
2015-C31, 4.62% (WAC) due 08/15/484		3,253,000		3,227,269
2013-C17, 4.88% (WAC) due 01/15/474		2,500,000		2,573,845
2013-C12, 0.66% (WAC) due 07/15/454		47,906,521		971,592
CD Commercial Mortgage Trust
2017-CD4, 1.33% (WAC) due 05/10/504		32,606,109		2,896,401
2017-CD3, 1.04% (WAC) due 02/10/504		34,963,188		2,579,280
J.P. Morgan Chase Commercial Mortgage Securities Trust
2016-WSP, 3.63% (1 Month USD LIBOR + 2.15%) due 08/15/334,5		5,000,000		5,010,842
GS Mortgage Securities Trust
2017-GS6, 1.05% (WAC) due 05/10/504		42,893,958		3,457,669
2015-GC28, 1.14% (WAC) due 02/10/484		21,432,184		1,111,171
GE Business Loan Trust
2007-1A, 1.65% (1 Month USD LIBOR + 0.17%) due 04/16/354,5		4,535,068		4,407,849
CGMS Commercial Mortgage Trust
2017-B1, 0.86% (WAC) due 08/15/504		66,805,109		4,085,426
CD Mortgage Trust
2016-CD1, 1.44% (WAC) due 08/10/494		35,760,040		3,274,100
CD 2017-CD6 Mortgage Trust
2017-CD6, 0.99% (WAC) due 11/13/504		47,967,059		3,204,722
CSAIL Commercial Mortgage Trust
2015-C1, 0.94% (WAC) due 04/15/504		57,704,607		2,787,525
CFCRE Commercial Mortgage Trust
2016-C3, 1.07% (WAC) due 01/10/484		40,349,699		2,689,707

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COLLATERALIZED MORTGAGE OBLIGATIONS†† - 32.5% (continued)
Commercial Mortgage Backed Securities - 4.6% (continued)
Banc of America Commercial Mortgage Trust
2017-BNK3, 1.14% (WAC) due 02/15/504		24,477,585	$	1,882,686
DBJPM Mortgage Trust
2017-C6, 1.04% (WAC) due 06/10/504		25,058,621		1,777,170
WFRBS Commercial Mortgage Trust
2013-C12, 1.31% (WAC) due 03/15/484,5		11,871,574		613,555
LSTAR Commercial Mortgage Trust
2014-2, 5.13% (WAC) due 01/20/414,5		500,000		502,259
GS Mortgage Securities Corporation II
2013-GC10, 2.94% due 02/10/46		225,000		226,838
Total Commercial Mortgage Backed Securities				411,105,841
Military Housing - 2.0%
Freddie Mac Military Housing Bonds Resecuritization Trust Certificates
2015-R1, 12.43% (WAC) due 11/25/554,5		44,062,739		49,598,121
GMAC Commercial Mortgage Asset Corp.
2007-HCKM, 6.11% due 08/10/527		22,696,403		25,669,661
2003-PRES, 6.24% due 10/10/415		10,823,166		12,179,485
2005-DRUM, 5.47% due 05/10/50†††,7		4,672,792		5,044,282
2002-MEAD, 6.85% due 05/10/375		2,557,118		3,111,170
2005-BLIS, 5.25% due 07/10/50†††,7		2,500,000		2,572,060
Capmark Military Housing Trust
2008-AMCW, 6.90% due 07/10/55†††,7		8,400,899		10,846,408
2007-AETC, 5.75% due 02/10/527		8,229,455		8,345,164
2006-RILY, 1.80% (1 Month USD LIBOR + 0.37%) due 07/10/51†††,4,7		7,156,051		5,043,772
2007-ROBS, 6.06% due 10/10/527		4,777,829		5,005,136
2007-AET2, 6.06% due 10/10/527		2,172,867		2,338,327
Freddie Mac Military Housing Bonds Resecuritization Trust Certificates 2015-R1
2015-R1, 4.11% (WAC) due 11/25/524,5		13,544,089		14,693,224
2015-R1, 4.10% (WAC) due 10/25/524,5		11,307,729		12,168,180
Mid-Atlantic Military Family Communities LLC
5.30% due 08/01/505		18,598,575		18,664,356
HP Communities LLC
5.78% due 03/15/467		2,150,000		2,370,348
5.86% due 09/15/537		1,420,000		1,561,165
Pacific Beacon LLC
5.51% due 07/15/365		500,000		573,204
Total Military Housing				179,784,063
Total Collateralized Mortgage Obligation
(Cost $2,889,525,900)				2,921,679,525

U.S. GOVERNMENT SECURITIES†† - 11.1%
U.S. Treasury Bond
due 11/15/4411	827,013,400	392,605,781
due 02/15/4711	639,240,000	284,855,099
due 11/15/4611	568,308,000	253,971,844
8.13% due 08/15/21	9,900,000	11,988,281
8.75% due 08/15/20	6,500,000	7,624,297
4.38% due 05/15/40	5,550,000	7,156,031
8.75% due 05/15/20	6,030,000	6,991,738
8.00% due 11/15/21	5,600,000	6,822,594
7.88% due 02/15/21	5,500,000	6,478,828
4.75% due 02/15/41	2,250,000	3,054,111
2.75% due 11/15/42	2,580,000	2,596,327
2.88% due 08/15/45	1,800,000	1,845,984
Total U.S. Treasury Bond		985,990,915
U.S. Treasury Note
2.00% due 04/30/24	4,500,000	4,418,789
3.13% due 05/15/19	2,500,000	2,542,773
Total U.S. Treasury Note		6,961,562
Total U.S. Government Securities
(Cost $943,033,033)		992,952,477

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
CORPORATE BONDS†† - 6.3%
Financial - 4.7%
Station Place Securitization Trust
2.19% (1 Month USD LIBOR + 0.90%) due 07/24/184,5		71,550,000	$	71,550,000
2.30% (1 Month USD LIBOR + 0.75%) due 08/24/184,5		29,500,000		29,500,000
2.29% (1 Month USD LIBOR + 1.00%) due 08/24/184,5		23,200,000		23,200,000
2.68% (1 Month USD LIBOR + 1.13%) due 02/25/494,5		2,666,667		2,667,659
2.80% (1 Month USD LIBOR + 1.25%) due 02/25/494,5		2,666,667		2,667,658
Citigroup, Inc.
6.25% 12,13		41,340,000		45,598,020
5.95% 12,13		20,660,000		22,002,900
8.13% due 07/15/39		1,100,000		1,758,820
American Equity Investment Life Holding Co.
5.00% due 06/15/27		32,720,000		33,904,341
Station Place Securitization Trust Series
2.54% (1 Month USD LIBOR + 1.25%) due 11/24/184,5		31,000,000		31,000,000
Bank of America Corp.
6.30% 12,13		24,075,000		27,204,750
Hospitality Properties Trust
5.25% due 02/15/26		20,106,000		21,594,265
4.95% due 02/15/27		1,500,000		1,581,932
KeyCorp
5.00% 12,13		20,087,000		20,689,610
MetLife, Inc.
9.25% due 04/08/385		7,300,000		10,767,500
10.75% due 08/01/39		4,750,000		7,944,375
BBC Military Housing-Navy Northeast LLC
6.30% due 10/15/49†††		8,625,000		9,499,781
JPMorgan Chase & Co.
6.10% 12,13		5,981,000		6,571,923
6.00% 12,13		870,096		935,396
Wells Fargo & Co.
5.90% 12,13		6,413,773		6,860,813
Atlas Mara Ltd.
8.00% due 12/31/20		6,600,000		5,940,000
Fort Benning Family Communities LLC
1.83% (1 Month USD LIBOR + 0.35%) due 01/15/36†††,4,7		6,000,000		5,037,538
Lincoln Finance Ltd.
7.38% due 04/15/215		4,580,000		4,774,650
Navigators Group, Inc.
5.75% due 10/15/23		4,050,000		4,323,154
Atlantic Marine Corporations Communities LLC
5.43% due 12/01/507		1,411,352		1,430,664
5.37% due 12/01/50†††,5		799,181		853,081
5.38% due 02/15/48		546,495		541,390
Fort Eustis/Fort Story Housing LLC
5.51% due 12/15/405		2,000,000		2,272,105
Customers Bank
6.13% due 06/26/297,13		2,000,000		2,105,000
Royal Bank of Scotland Group plc
3.88% due 09/12/23		1,700,000		1,728,803
First American Financial Corp.
4.30% due 02/01/23		1,680,000		1,728,082
Synchrony Financial
4.50% due 07/23/25		1,650,000		1,724,257
Barclays plc
4.38% due 01/12/26		1,600,000		1,664,352
CBRE Services, Inc.
5.25% due 03/15/25		1,500,000		1,649,879
Enstar Group Ltd.
4.50% due 03/10/22		1,610,000		1,639,721
Morgan Stanley
7.25% due 04/01/32		820,000		1,135,399
Pacific Northwest Communities LLC
5.91% due 06/15/507		1,000,000		1,095,459
Univest Corporation of Pennsylvania
5.10% due 03/30/2513		1,000,000		1,030,000
Wilton Re Finance LLC
5.88% due 03/30/335,13		925,000		979,344
Nationwide Mutual Insurance Co.
9.38% due 08/15/395		530,000		901,368
ACC Group Housing LLC
6.35% due 07/15/547		625,000		753,019
Hanover Insurance Group, Inc.
4.50% due 04/15/26		650,000		676,154
Lincoln National Corp.
8.75% due 07/01/19		307,000		335,197
7.00% due 06/15/40		210,000		289,473
Assurant, Inc.
6.75% due 02/15/34		106,000		131,267
Total Financial				422,239,099
Basic Materials - 0.7%
Yamana Gold, Inc.
4.95% due 07/15/24		23,370,000		24,448,171
4.63% due 12/15/27		6,300,000		6,332,841
BHP Billiton Finance USA Ltd.
6.75% due 10/19/755,13		17,500,000		20,432,825
Southern Copper Corp.
6.75% due 04/16/40		1,400,000		1,825,225
Dow Chemical Co.
9.40% due 05/15/39		1,000,000		1,709,351
Barrick North America Finance LLC
7.50% due 09/15/38		1,230,000		1,698,445

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
CORPORATE BONDS†† - 6.3% (continued)
Basic Materials - 0.7% (continued)
Eldorado Gold Corp.
6.13% due 12/15/205		1,250,000	$	1,237,500
Total Basic Materials				57,684,358
Energy - 0.4%
Sunoco Logistics Partners Operations, LP
5.95% due 12/01/25		14,306,000		15,974,658
Hess Corp.
7.30% due 08/15/31		7,600,000		9,216,936
7.88% due 10/01/29		1,497,000		1,866,340
7.13% due 03/15/33		700,000		844,487
Marathon Petroleum Corp.
3.63% due 09/15/24		1,700,000		1,733,709
Valero Energy Corp.
3.40% due 09/15/26		1,700,000		1,706,912
Sabine Pass Liquefaction LLC
5.88% due 06/30/26		1,500,000		1,685,202
MPLX, LP
4.13% due 03/01/27		1,600,000		1,638,782
Schahin II Finance Co. SPV Ltd.
5.88% due 09/25/227,14		781,800		85,998
Total Energy				34,753,024
Consumer, Non-cyclical - 0.2%
Offutt AFB America First Community LLC
5.46% due 09/01/505		6,691,353		7,190,948
HRG Group, Inc.
7.88% due 07/15/19		6,395,000		6,407,790
United Communities LLC
5.61% due 09/15/515		4,606,949		4,855,041
Becton Dickinson and Co.
4.67% due 06/06/47		1,600,000		1,732,333
Total Consumer, Non-cyclical				20,186,112
Industrial - 0.1%
Princess Juliana International Airport Operating Company N.V.
5.50% due 12/20/27†††,7,8		2,445,711		2,153,124
Reynolds Group Issuer Inc. / Reynolds Group Issuer LLC / Reynolds Group Issuer
6.88% due 02/15/21		2,009,220		2,036,847
Reynolds Group Issuer Incorporated / Reynolds Group Issuer LLC / Reynolds Group Issuer
4.86% (3 Month USD LIBOR + 3.50%) due 07/15/214,5		1,875,000		1,903,125
Owens Corning
4.30% due 07/15/47		1,720,000		1,693,588
Total Industrial				7,786,684
Military Housing 0.0%
Fort Knox Military House Privatization Project
5.82% due 02/15/525		1,954,103		2,054,056
1.82% (1 Month USD LIBOR + 0.34%) due 02/15/52†††,4,7		1,750,893		1,172,716
Total Military Housing				3,226,772
Communications - 0.1%
SFR Group S.A.
7.38% due 05/01/265		5,100,000		5,233,875
AT&T, Inc.
6.38% due 03/01/41		1,400,000		1,651,435
5.15% due 11/15/46		503,000		514,082
Vodafone Group plc
7.88% due 02/15/30		1,200,000		1,630,309
Verizon Communications, Inc.
4.81% due 03/15/39		1,350,000		1,412,380
MDC Partners, Inc.
6.50% due 05/01/245		300,000		301,500
Total Communications				10,743,581
Consumer, Cyclical - 0.1%
Ferrellgas Limited Partnership / Ferrellgas Finance Corp.
6.50% due 05/01/21		2,851,000		2,669,249
Hasbro, Inc.
6.35% due 03/15/40		1,500,000		1,804,960
Wyndham Worldwide Corp.
4.50% due 04/01/27		1,630,000		1,656,351
Northern Group Housing LLC
6.80% due 08/15/537		1,200,000		1,498,243
HP Communities LLC
5.62% due 09/15/327		1,000,000		1,067,308
Total Consumer, Cyclical				8,696,111
Mortgage Securities - 0.0%
Station Place Securitization Trust
3.80% (1 Month USD LIBOR + 2.25%) due 02/25/494,5		2,333,333		2,334,201
Technology - 0.0%
Citrix Systems, Inc.
4.50% due 12/01/27		1,700,000		1,725,327
Diversified - 0.0%
Leucadia National Corp.
5.50% due 10/18/23		1,500,000		1,614,536
Utilities - 0.0%
Exelon Generation Company LLC
6.25% due 10/01/39		670,000		783,774
Total Corporate Bonds
(Cost $556,551,498)				571,773,579

FOREIGN GOVERNMENT DEBT†† - 3.7%
Government of Japan
due 12/13/18	JPY	14,134,000,000	125,449,990
Republic of Portugal
due 01/19/18	EUR	86,145,000	103,370,382
Republic of France
due 01/17/18	EUR	77,100,000	92,529,528
Czech Republic Government Bond
0.85% due 03/17/18	CSK	259,030,000	12,187,281
Total Foreign Government Debt
(Cost $330,656,489)			333,537,181

FEDERAL AGENCY BONDS†† - 2.7%
Fannie Mae Principal Strips
due 01/15/3011	54,725,000	38,228,668
due 05/15/3011	48,650,000	33,541,779

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
FEDERAL AGENCY BONDS†† - 2.7% (continued)
due 05/15/2911,15		33,900,000	$	24,187,599
Total Fannie Mae Principal Strips				95,958,046
Freddie Mac Principal Strips
due 07/15/3211		33,850,000		21,659,157
due 03/15/3111		31,757,000		21,269,810
Total Freddie Mac Principal Strips				42,928,967
Residual Funding Corporation Principal
due 04/15/3011		43,639,000		30,663,481
Tennessee Valley Authority
5.38% due 04/01/56		8,360,000		11,868,901
4.25% due 09/15/65		9,900,000		11,704,295
Total Tennessee Valley Authority				23,573,196
Fannie Mae15
due 01/15/3211		9,413,000		6,076,156
due 01/15/3011		5,900,000		4,120,889
due 01/15/3511		2,250,000		1,317,246
due 07/15/3211		1,963,000		1,243,376
due 02/06/3311		1,456,000		911,203
due 01/15/3311		1,450,000		909,331
Total Fannie Mae				14,578,201
Fannie Mae Principal
due 11/15/3011		17,570,000		11,899,234
Residual Funding Corporation Principal Strips
due 01/15/3011		15,074,000		10,608,106
Freddie Mac Coupon Strips
due 03/15/3011		7,250,000		5,022,439
due 09/15/3011		2,906,000		1,979,897
Total Freddie Mac Coupon Strips				7,002,336
Freddie Mac15
1.25% due 10/02/19		2,500,000		2,470,228
Total Federal Agency Bonds
(Cost $236,509,002)				239,681,795

SENIOR FLOATING RATE INTERESTS††,4 - 1.6%
Technology - 0.7%
Misys Ltd.
4.98% (3 Month USD LIBOR + 3.50%) due 06/13/24		30,698,063	30,772,659
Epicor Software
5.32% (1 Month USD LIBOR + 3.75%) due 06/01/22		19,814,888	19,850,357
EIG Investors Corp.
5.46% (3 Month USD LIBOR + 4.00%) due 02/09/23		5,070,769	5,099,317
Internet Brands, Inc.
5.34% (3 Month USD LIBOR + 3.75%) due 09/13/24		3,480,757	3,488,589
TIBCO Software, Inc.
5.07% (1 Month USD LIBOR + 3.50%) due 12/04/20		1,945,263	1,948,920
Advanced Computer Software
10.94% (3 Month USD LIBOR + 9.50%) due 01/31/23		2,000,000	1,877,500
Verint Systems, Inc.
3.63% (3 Month USD LIBOR + 2.25%) due 06/28/24		746,250	748,116
Micron Technology, Inc.
3.39% (1 Month USD LIBOR + 2.00%) due 04/26/22		646,354	651,803
Kronos, Inc.
4.90% (3 Month USD LIBOR + 3.50%) due 11/01/23		297,750	299,593
Aspect Software, Inc.
12.07% (1 Month USD LIBOR + 10.50%) due 05/25/201		14,631	14,411
Total Technology			64,751,265
Communications - 0.3%
Cengage Learning Acquisitions, Inc.
5.71% (1 Month USD LIBOR + 4.25%) due 06/07/23		21,807,080	20,771,244
Proquest LLC
5.32% (1 Month USD LIBOR + 3.75%) due 10/24/21		1,342,734	1,358,686
Houghton Mifflin Co.
4.57% (1 Month USD LIBOR + 3.00%) due 05/28/21		736,776	681,982
Cable One, Inc.
3.95% (3 Month USD LIBOR + 2.25%) due 05/01/24		497,500	498,743
Total Communications			23,310,655
Industrial - 0.2%
Hayward Industries, Inc.
5.07% (1 Month USD LIBOR + 3.50%) due 08/05/24		5,236,875	5,243,421
Engility Corp.
4.82% (Commercial Prime Lending Rate + 3.25%) and (1 Month USD LIBOR + 3.25%) due 08/14/23		2,799,164	2,823,657
VC GB Holdings, Inc.
4.82% (1 Month USD LIBOR + 3.25%) due 02/28/24		2,308,755	2,320,299
TMF Group Holding BV
3.50% (3 Month EURIBOR + 3.50%) due 10/13/23	EUR	1,750,000	2,097,837
Hillman Group, Inc.
5.19% (3 Month USD LIBOR + 3.50%) due 06/30/21		982,188	987,099
Clean Harbors, Inc.
3.57% (1 Month USD LIBOR + 2.00%) due 06/28/24		796,000	799,980
Hardware Holdings LLC
8.19% (3 Month USD LIBOR + 6.50%) due 03/30/20		694,875	674,029
CHI Overhead Doors, Inc.
4.94% (3 Month USD LIBOR + 3.25%) due 07/29/22		494,709	494,402
Engineered Machinery Holdings, Inc.
4.94% (3 Month USD LIBOR + 3.25%) due 07/19/24		486,726	486,726
Wencor Group
5.19% (3 Month USD LIBOR + 3.50%) due 06/19/21		290,522	282,243

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
SENIOR FLOATING RATE INTERESTS††,4 - 1.6% (continued)
Industrial - 0.2% (continued)
Thermasys Corp.
5.35% (3 Month USD LIBOR + 4.00%) due 05/03/19		89,375	$	83,431
NVA Holdings, Inc.
5.19% (3 Month USD LIBOR + 3.50%) due 08/14/21		74,837		75,336
Total Industrial				16,368,460
Consumer, Non-cyclical - 0.1%
Packaging Coordinators Midco, Inc.
5.57% (1 Month USD LIBOR + 4.00%) due 06/30/23		3,160,000		3,163,950
Albertson's LLC
4.67% (3 Month USD LIBOR + 3.00%) due 12/21/22		2,742,265		2,684,293
DJO Finance LLC
4.70% (1 Month USD LIBOR + 3.25%) due 06/08/20		2,348,762		2,313,954
Grocery Outlet, Inc.
5.19% (3 Month USD LIBOR + 3.50%) due 10/21/21		1,728,211		1,727,140
One Call Medical, Inc.
5.53% (3 Month USD LIBOR + 4.00%) due 11/27/20		1,646,052		1,540,425
DaVita, Inc.
4.32% (1 Month USD LIBOR + 2.75%) due 06/24/21		795,876		802,092
Diamond (BC) B.V.
4.42% (2 Month USD LIBOR + 3.00%) due 09/06/24		500,000		500,300
JBS USA Lux SA
4.10% (3 Month USD LIBOR + 2.50%) due 10/30/22		297,750		292,316
CTI Foods Holding Co. LLC
5.07% (1 Month USD LIBOR + 3.50%) due 06/29/20		200,000		182,000
Total Consumer, Non-cyclical				13,206,470
Consumer, Cyclical - 0.1%
Leslie's Poolmart, Inc.
5.37% (2 Month USD LIBOR + 3.75%) due 08/16/23		4,419,276		4,403,499
PetSmart Inc
4.57% (1 Month USD LIBOR + 3.00%) due 03/11/22		4,128,929		3,291,541
PTL Acquisition, Inc.
3.82% (1 Month USD LIBOR + 2.25%) due 08/01/23		1,234,375		1,240,028
Acosta, Inc.
4.64% (Commercial Prime Lending Rate + 2.25%) and (3 Month USD LIBOR + 3.25%) due 09/26/19†††,8		928,889		885,839
3.90% (3 Month LIBOR + 3.25%) due 09/26/19†††,8		244,444		233,116
BBB Industries, LLC
6.07% (1 Month USD LIBOR + 4.50%) due 11/03/21		932,849		942,765
Neiman Marcus Group, Inc.
4.64% (1 Month USD LIBOR + 3.25%) due 10/25/20		577,500		470,160
Sears Roebuck Acceptance Corp.
6.07% (3 Month USD LIBOR + 4.50%) due 01/20/19		201,576		202,584
USIC Holding, Inc.
5.19% (3 Month USD LIBOR + 3.50%) due 12/08/23		158,425		159,217
Total Consumer, Cyclical				11,828,749
Basic Materials - 0.1%
Road Infrastructure Investment
5.05% (1 Month USD LIBOR + 3.50%) due 06/13/23		4,405,872		4,412,745
Nexeo Solutions LLC
4.72% (3 Month USD LIBOR + 3.25%) due 06/09/23		1,674,585		1,682,958
Total Basic Materials				6,095,703
Financial - 0.1%
National Financial Partners Corp.
5.07% (1 Month USD LIBOR + 3.50%) due 01/08/24		2,194,790		2,204,118
HUB International Ltd.
4.41% (3 Month USD LIBOR + 3.00%) due 10/02/20		1,142,288		1,146,983
LPL Holdings, Inc.
3.81% (3 Month USD LIBOR + 2.25%) and (6 Month USD LIBOR + 2.25%) due 09/23/24		998,750		1,002,076
American Stock Transfer & Trust
6.20% (3 Month USD LIBOR + 4.50%) due 06/26/20		233,543		233,933
Total Financial				4,587,110
Utilities - 0.0%
Invenergy Thermal Operating I, LLC
7.19% (3 Month USD LIBOR + 5.50%) due 10/19/22		2,471,504		2,323,214
Total Senior Floating Rate Interests
(Cost $143,830,947)				142,471,626

MUNICIPAL BONDS†† - 1.0%
Ohio - 0.5%
American Municipal Power, Inc. Revenue Bonds
8.08% due 02/15/50	19,850,000	33,829,362
7.50% due 02/15/50	2,060,000	3,129,820
Total Ohio		36,959,182
California - 0.4%
Poway Unified School District General Obligation Unlimited
due 08/01/4011	10,000,000	4,588,900
due 08/01/3811	8,460,000	4,176,364

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
MUNICIPAL BONDS†† - 1.0%
Newport Mesa Unified School District General Obligation Unlimited
due 08/01/4511		8,565,000	$	2,950,214
due 08/01/3911		4,000,000		1,793,400
due 08/01/4011		2,500,000		1,072,375
due 08/01/4111		2,000,000		819,180
San Diego Unified School District General Obligation Unlimited
due 07/01/3911		7,150,000		3,478,761
due 07/01/4611		2,200,000		813,978
due 07/01/4311		1,350,000		563,004
Cypress School District General Obligation Unlimited
due 08/01/4811		14,450,000		4,049,323
Beverly Hills Unified School District California General Obligation Unlimited
due 08/01/3411		5,295,000		3,084,973
San Marcos Unified School District General Obligation Unlimited
due 08/01/4711		3,600,000		1,200,996
Santa Cruz County Redevelopment Agency Tax Allocation
3.75% due 09/01/32		850,000		858,551
Wiseburn School District General Obligation Unlimited
due 08/01/3411		900,000		504,927
Santa Ana Unified School District General Obligation Unlimited
due 08/01/3511		700,000		387,681
Total California				30,342,627
Illinois - 0.1%
State of Illinois General Obligation Unlimited
5.65% due 12/01/38		5,350,000		6,127,248
5.10% due 06/01/33		2,500,000		2,704,450
6.63% due 02/01/35		1,820,000		2,212,701
City of Chicago Illinois General Obligation Unlimited
6.31% due 01/01/44		4,500,000		5,703,480
Total Illinois				16,747,879
Florida - 0.0%
County of Miami-Dade Florida Aviation Revenue Bonds
3.73% due 10/01/37		2,250,000		2,257,313
County of Miami-Dade Florida Revenue Bonds
due 10/01/4111		4,100,000		1,623,436
Total Florida				3,880,749
Oregon - 0.0%
Washington & Multnomah Counties School District No. 48J Beaverton General Obligation Unlimited
due 06/15/3311		3,850,000		2,228,496
Puerto Rico - 0.0%
Puerto Rico Public Buildings Authority Revenue Bonds
6.00% due 07/01/23		1,500,000		1,510,545
Texas - 0.0%
Harris County-Houston Sports Authority Revenue Bonds
due 11/15/4511		2,850,000		856,368
due 11/15/4111		1,500,000		551,610
Total Texas				1,407,978
Pennsylvania - 0.0%
Pennsylvania Economic Development Financing Authority Revenue Bonds
due 01/01/4111		995,000		394,856
due 01/01/3711		570,000		270,642
Total Pennsylvania				665,498
Total Municipal Bonds
(Cost $85,931,691)				93,742,954

FEDERAL AGENCY DISCOUNT NOTES†† - 0.4%
Freddie Mac15
due 12/14/2911	48,770,000	34,193,761
Freddie Mac Coupon Strips
due 07/15/3111	1,800,000	1,194,681
Total Federal Agency Discount Notes
(Cost $35,298,046)		35,388,442

COMMERCIAL PAPER†† - 1.3%
Molex Electronic Technologies
1.98% due 01/05/1816	35,500,000	35,492,190
1.89% due 01/03/1816	2,000,000	1,999,790
Total Molex Electronic Technologies		37,491,980
Amcor Ltd.
1.50% due 01/08/1816	30,000,000	29,991,250
1.53% due 02/02/1816	4,000,000	3,994,560
Total Amcor Ltd.		33,985,810

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Face Amount~		Value
COMMERCIAL PAPER†† - 1.3% (continued)
Marriott International, Inc.
1.50% due 01/04/1816		25,000,000	$	24,996,875
Clorox Company (The)
1.90% due 02/05/1816		4,225,000		4,217,195
Toronto-Dominion Bank
1.52% due 02/05/1816		4,000,000		3,994,089
Bemis Company, Inc.
1.80% due 01/02/1816		2,500,000		2,498,250
CBS Corp.
1.90% due 01/22/1816		2,175,000		2,172,589
Waste Management, Inc.
1.66% due 01/04/1816		2,100,000		2,099,668
American Water Capital Corp.
1.90% due 01/10/1816		1,100,000		1,099,478
Total Commercial Paper
(Cost $112,555,934)				112,555,934
Total Investments - 100.7%
(Cost $8,925,718,574)			$	9,048,009,348
Other Assets & Liabilities, net - (0.7)%				(60,835,253	)
Total Net Assets - 100.0%			$	8,987,174,095

CENTRALLY CLEARED INTEREST RATE SWAP AGREEMENTS††
Counterparty	Exchange		Floating Rate Type	Floating Rate Index	Fixed Rate			Payment Frequency	Maturity Date	Notional Amount			Market Value			Value and Unrealized Gain (Loss)
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.24	%	Quarterly	08/11/27	$	(637,400,000	)	$	6,688,036		$	6,688,036
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		1.67	%	Quarterly	08/16/20		(787,700,000	)		4,434,678			4,434,678
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		1.99	%	Quarterly	08/22/24		(291,600,000	)		3,061,888			3,061,888
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.09	%	Quarterly	09/05/27		(58,600,000	)		1,641,678			1,641,678
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		1.90	%	Quarterly	08/11/22		(212,000,000	)		1,507,145			1,507,145
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.15	%	Quarterly	08/21/27		(49,300,000	)		1,086,693			1,086,693
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.13	%	Quarterly	08/30/27		(41,600,000	)		1,010,109			1,010,109
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.19	%	Quarterly	08/15/27		(50,200,000	)		946,290			946,290
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.16	%	Quarterly	02/13/24		(108,330,000	)		820,341			820,341
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.07	%	Quarterly	05/26/24		(59,730,000	)		803,126			803,126
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.17	%	Quarterly	08/22/27		(34,500,000	)		726,474			726,474
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.24	%	Quarterly	08/17/27		(39,200,000	)		582,398			582,398
BOA Merrill Lynch		CME	Receive	3-Month USD-LIBOR		2.59	%	Quarterly	11/13/47		(50,400,000	)		(293,730	)		(293,730	)
																$	23,015,126

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS††
Counterparty	Contracts to Sell		Currency		Settlement Date	Settlement Value		Value at December 31, 2017		Net Unrealized Appreciation/Depreciation
Morgan Stanley		14,134,000,000		JPY	02/13/18	$	126,822,615	$	125,694,326	$	1,128,289
Bank of America		1,784,000		EUR	01/10/18		2,110,342		2,141,453		(31,111	)
Morgan Stanley		77,100,000		EUR	01/17/18		91,961,796		92,594,924		(633,128	)
Citigroup		261,231,755		CSK	03/19/18		11,632,248		12,357,777		(725,530	)
Morgan Stanley		86,145,000		EUR	01/19/18		102,118,547		103,472,627		(1,354,079	)
										$	(1,615,559	)

~	The face amount is denominated in U.S. dollars unless otherwise indicated.
*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs, unless otherwise noted — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	Affiliated issuer.
2	Security is a step up/step down bond. The coupon increases or decreases at regular intervals until the bond reaches full maturity.
3	Rate indicated is the 7 day yield as of December 31, 2017.
4	Variable rate security. Rate indicated is rate effective at December 31, 2017. In some instances, the underlying reference rate shown was below the minimum rate earned by the security or has been adjusted by a predetermined factor. The settlement status of a position may also impact the effective rate indicated. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
5	Security is a 144A or Section 4(a)(2) security. These securities have been determined to be liquid under guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) securities is $4,146,281,141 (cost $4,121,122,154), or 46.1% of total net assets.
6	Security has no stated coupon. However, it is expected to receive residual cash flow payments on defined deal dates.
7	Security is a 144A or Section 4(a)(2) security. These securities have been determined to be illiquid and restricted under guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) illiquid and restricted securities is $89,833,118 (cost $90,764,487), or 1.0% of total net assets. See Note 7.

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

8	Security was fair valued by the Valuation Committee at December 31, 2017. The total market value of fair valued securities amounts to $3,272,079, (cost $3,534,591) or 0.04% of total net assets.
9	Maturity date indicated is next interest reset date.
10	Security is an interest-only strip. Rate indicated is effective yield at December 31, 2017.
11	Zero coupon rate security.
12	Perpetual maturity.
13	Security has a fixed rate coupon which will convert to a floating or variable rate coupon on a future date.
14	Security is in default of interest and/or principal obligations.
15	On September 7, 2008, the issuer was placed in conservatorship by the Federal Housing Finance Agency (FHFA). As conservator, the FHFA has full powers to control the assets and operations of the firm.
16	Rate indicated is the effective yield at the time of purchase.

plc — Public Limited Company

REIT — Real Estate Investment Trust

CME — Chicago Mercantile Exchange

LIBOR — London Interbank Offered Rate

WAC — Weighted Average Coupon

EURIBOR — European Interbank Offered Rate

CMT — Constant Maturity Treasury

EUR — Euro

CSK — Czech Koruna

JPY — Japanese Yen

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Asset Backed Securities	$	—	$	3,257,058,073	$	—	$	12,005,354	$	3,269,063,427
Closed-End Funds		2,853,351		—		—		—		2,853,351
Collateralized Mortgage Obligations		—		2,815,384,165		—		106,295,360		2,921,679,525
Commercial Paper		—		112,555,934		—		—		112,555,934
Common Stocks		10,245		—		—		—		10,245
Corporate Bonds		—		553,057,339		—		18,716,240		571,773,579
Forward Foreign Currency Exchange Contracts		—		—		1,128,289		—		1,128,289
Federal Agency Bonds		—		239,681,795		—		—		239,681,795
Federal Agency Discount Notes		—		35,388,442		—		—		35,388,442
Foreign Government Debt		—		333,537,181		—		—		333,537,181
Interest Rate Swap Agreements		—		—		23,308,856		—		23,308,856
Money Market Fund		185,324,843		—		—		—		185,324,843
Municipal Bonds		—		93,742,954		—		—		93,742,954
Mutual Funds		145,907,256		—		—		—		145,907,256
Preferred Stocks		—		1,066,713		—		—		1,066,713
Senior Floating Rate Interests		—		141,352,671		—		1,118,955		142,471,626
U.S. Government Securities		—		992,952,477		—		—		992,952,477
Total Assets	$	334,095,695	$	8,575,777,744	$	24,437,145	$	138,135,909	$	9,072,446,493

Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 2 - Other*		Level 3 Significant Unobservable Inputs		Total
Forward Foreign Currency Exchange Contracts	$	—	$	—	$	2,743,848	$	—	$	2,743,848
Interest Rate Swap Agreements		—		—		293,730		—		293,730
Unfunded Loans		—		—		—		47,581		47,581
Total Liabilities	$	—	$	—	$	3,037,578	$	47,581	$	3,085,159

* Other financial instruments include forward foreign currency exchange contracts and/or swaps, which are reported as unrealized gain/loss at period end.

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

The following is a summary of significant unobservable inputs used in the fair valuation of assets and liabilities categorized within Level 3 of the fair value hierarchy:

Category	Ending Balance at December 31, 2017		Valuation Technique	Unobservable Inputs	Input Range
Assets:
Asset-Backed Securities	$	12,005,354	Option Adjusted Spread off the prior month end broker mark over the 3 month LIBOR	Indicative Quote		—
Collateralized Mortgage Obligations		106,295,360	Option Adjusted Spread off the prior month end broker mark over the 3 month LIBOR	Indicative Quote		—
Corporate Bonds		16,563,116	Option Adjusted Spread off the prior month end broker mark over the 3 month LIBOR	Indicative Quote		—
Corporate Bonds		2,153,124	Model Price	Market Comparable Yields		8.3%
Senior Floating Rate Interests		1,118,955	Model Price	Purchase Price		—
Total Assets	$	138,135,909
Liabilities:
Unfunded Loan Commitments	$	47,581	Model Price	Purchase Price		—

Any remaining Level 3 securities held by the Fund and excluded from the tables above, were not considered material to the Fund.

Total Return Bond Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the year ended December 31, 2017, the Fund had securities with a total value of $31,609,661 transfer out of level 3 into level 2 due to changes in the securities valuation methods based on availability of observable market inputs. There were no other securities that transferred between levels.

Summary of Fair Value Level 3 Activity

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value for the year ended December 31, 2017:

	Assets															Liabilities
	Senior Floating Rate Interests			Asset Backed Securities			Corporate Bonds			Collateralized Mortgage Obligations			Total Assets			Unfunded Loan Commitments
Beginning Balance	$	1,064,875		$	12,011,785		$	24,125,526		$	121,997,532		$	159,199,718		$	(56,979	)
Purchases/Receipts		750,445			-			-			16,529,810		$	17,280,255			31,777
Sales, maturities and paydowns/Fundings		(792,978	)		(59,987	)		(102,480	)		(4,489,173	)	$	(5,444,618	)		(38,133	)
Total realized gains or losses included in earnings		59,363			-			(4,599	)		(7,239	)	$	47,525			-
Total change in unrealized gains or losses included in earnings		37,250			53,556			637,793			(2,065,909	)	$	(1,337,310	)		15,754
Transfers into Level 3		-			-			-			-		$	-			-
Transfers out of Level 3		-			-			(5,940,000	)		(25,669,661	)	$	(31,609,661	)		-
Ending Balance	$	1,118,955		$	12,005,354		$	18,716,240		$	106,295,360		$	138,135,909		$	(47,581	)
Net Change in unrealized appreciation (depreciation) for investments in securities still held at December 31, 2017	$	(59,350	)	$	72,436		$	252,000		$	771,853		$	1,036,939		$	3,042

Affiliated Transactions

Investments representing 5% or more of the outstanding voting shares of a portfolio company of a fund, or control of or by, or common control under GI, result in that portfolio company being considered an affiliated company of such fund, as defined in the 1940 Act.

The Fund may invest in the underlying series of the Guggenheim Strategy Funds Trust consisting of Guggenheim Strategy Fund I, Guggenheim Strategy Fund II, Guggenheim Strategy Fund III, and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Cash Management Funds”), open-end management investment companies managed by GI. The Cash Management Funds, which launched on March 11, 2014, are offered as cash management options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Cash Management Funds pay no investment management fees. The Cash Management Funds’ annual report on Form N-CSR dated September 30, 2017, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000089180417000715/gug72218.htm.

Transactions during the period ended December 31, 2017, in which the portfolio company is an "affiliated person", were as follows:

Security Name	Value 09/30/17		Additions		Reductions			Realized Gain		Change in Unrealized			Value 12/31/17		Shares 12/31/17		Investment Income		Capital Gain Distributions
Aspect Software, Inc.	$	14,487	$	–	$	(96	)	$	–	$	20		$	14,411		14,631	$	432	$	–
Guggenheim Floating Rate Strategies Fund - Institutional Class		77,103,355		31,999,543		(1,000,000	)		5,376		(201,181	)		107,907,093		4,148,677		995,454		–
Guggenheim Strategic Opportunities Fund		10,260,018		–		(7,555,934	)		1,301,680		(1,152,413	)		2,853,351		132,222		219,695		–
Guggenheim Strategy Fund I		12,326,353		88,919		(500,000	)		5,175		(28,622	)		11,891,825		474,534		84,469		4,496
Guggenheim Strategy Fund II		14,363,426		115,707		–			–		(28,767	)		14,450,366		577,784		108,061		7,687
Guggenheim Strategy Fund III		9,347,011		2,321,158		–			–		(10,197	)		11,657,972		465,946		68,333		2,836
	$	123,414,650	$	34,525,327	$	(9,056,030	)	$	1,312,231	$	(1,421,160	)	$	148,775,018			$	1,476,444	$	15,019

World Equity Income Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 98.8%
Financial - 26.8%
Visa, Inc. — Class A		10,600	$	1,208,612
Mastercard, Inc. — Class A		6,900		1,044,384
Banco Bilbao Vizcaya Argentaria S.A.		97,900		835,351
Mizuho Financial Group, Inc.		449,800		816,693
ING Groep N.V.		43,500		799,805
MetLife, Inc.		15,300		773,568
Cincinnati Financial Corp.		10,300		772,191
Chubb Ltd.		5,200		759,876
BNP Paribas S.A.		10,100		754,319
JPMorgan Chase & Co.		7,000		748,580
Swiss Re AG		7,600		711,771
Credit Suisse Group AG*		38,100		680,406
Bank of Montreal		8,400		672,099
DNB ASA		35,700		661,352
Canadian Imperial Bank of Commerce		6,000		584,828
Henderson Land Development Company Ltd.		86,240		568,468
Bank Hapoalim BM		75,900		558,191
Kinnevik Investment AB — Class B		16,500		557,766
SEI Investments Co.		7,700		553,322
Brilliance China Automotive Holdings Ltd. ADR*		8,800		551,691
Reinsurance Group of America, Inc. — Class A		3,500		545,755
Everest Re Group Ltd.		2,400		531,024
Hysan Development Company Ltd. — Class A*		98,500		522,577
SmartCentres Real Estate Investment Trust REIT		20,700		508,942
ASX Ltd.		11,500		492,306
Investec plc		65,000		469,043
First Capital Realty, Inc.		28,200		464,770
RioCan Real Estate Investment Trust REIT		23,400		453,411
Assurant, Inc.		4,300		433,612
H&R Real Estate Investment Trust REIT		25,200		428,155
Intercontinental Exchange, Inc.		5,500		388,080
T. Rowe Price Group, Inc.		3,300		346,269
National Australia Bank Ltd. ADR		13,900		320,736
PNC Financial Services Group, Inc.		2,200		317,438
MS&AD Insurance Group Holdings, Inc.		9,000		304,619
Credit Agricole S.A.		17,900		296,365
Unibail-Rodamco SE REIT		1,100		277,145
Allianz AG		1,200		275,705
Liberty Property Trust REIT		6,200		266,662
Travelers Companies, Inc.		1,900		257,716
UBS Group AG*		13,400		246,730
Toronto-Dominion Bank		4,000		234,332
Tokio Marine Holdings, Inc.		5,000		228,114
CI Financial Corp.		9,600		227,326
Prudential Financial, Inc.		1,900		218,462
Wells Fargo & Co.		3,500		212,345
BB&T Corp.		3,800		188,936
Power Financial Corp.		6,800		186,823
U.S. Bancorp		3,300		176,814
Lloyds Banking Group plc		181,900		167,138
Total Financial				24,600,623
Consumer, Non-cyclical - 16.3%
Johnson & Johnson		11,600		1,620,752
Pfizer, Inc.		33,000		1,195,260
Roche Holding AG		3,900		986,678
Diageo plc		26,000		956,515
AbbVie, Inc.		8,600		831,706
Woolworths Group Ltd.		37,400		796,738
UnitedHealth Group, Inc.		3,600		793,656
Reed Elsevier plc		28,500		668,724
Western Union Co.		34,700		659,647
Gilead Sciences, Inc.		9,000		644,760
Automatic Data Processing, Inc.		5,300		621,107
Wesfarmers Ltd.		17,200		596,195
Procter & Gamble Co.		6,448		592,442
Amgen, Inc.		3,000		521,700
Straumann Holding AG		700		494,648
ManpowerGroup, Inc.		3,800		479,218
Vifor Pharma AG		3,200		410,210
George Weston Ltd.		4,700		408,094
Coca-Cola Amatil Ltd.		60,200		399,767
Swedish Match AB		9,900		390,054
Becton Dickinson and Co.		1,800		385,308
MEIJI Holdings Company Ltd.		3,700		314,887
Robert Half International, Inc.		3,800		211,052
Total Consumer, Non-cyclical				14,979,118
Industrial - 16.0%
Honeywell International, Inc.		6,800		1,042,848
3M Co.		4,100		965,017
Lockheed Martin Corp.		2,740		879,677
Deere & Co.		5,200		813,852
TE Connectivity Ltd.		8,000		760,320
United Parcel Service, Inc. — Class B		6,300		750,645
Vinci S.A.		7,200		735,549
FUJIFILM Holdings Corp.		17,600		719,244
Raytheon Co.		3,800		713,830
FedEx Corp.		2,800		698,712
SKF AB — Class B		27,900		619,685
Harris Corp.		4,200		594,930
Rockwell Automation, Inc.		3,000		589,050
Cummins, Inc.		3,300		582,912
Skanska AB — Class B		24,600		509,803
Illinois Tool Works, Inc.		2,900		483,865
L3 Technologies, Inc.		2,400		474,840
Avnet, Inc.		9,800		388,276
Emerson Electric Co.		5,100		355,419
MAN SE		2,600		297,588
Cognex Corp.		4,400		269,104
Old Dominion Freight Line, Inc.		2,000		263,100
Parker-Hannifin Corp.		1,200		239,496
United Technologies Corp.		1,800		229,626
FLIR Systems, Inc.		4,800		223,776
General Electric Co.		11,000		191,950
Republic Services, Inc. — Class A		2,700		182,547
MTR Corporation Ltd.		30,000		175,864
Total Industrial				14,751,525

World Equity Income Fund
SCHEDULE OF INVESTMENTS (Unaudited)	December 31, 2017

	Shares		Value
COMMON STOCKS† - 98.8% (continued)
Technology - 10.2%
Apple, Inc.		8,000	$	1,353,840
Microsoft Corp.		12,800		1,094,912
International Business Machines Corp.		6,200		951,204
Texas Instruments, Inc.		9,100		950,404
NVIDIA Corp.		4,500		870,750
CA, Inc.		21,300		708,864
Broadridge Financial Solutions, Inc.		7,000		634,060
Canon, Inc.		16,300		607,534
Lam Research Corp.		3,200		589,024
STMicroelectronics N.V.		18,800		410,623
Accenture plc — Class A		2,400		367,416
Xilinx, Inc.		5,000		337,100
Maxim Integrated Products, Inc.		6,100		318,908
Seagate Technology plc		4,000		167,360
Total Technology				9,361,999
Consumer, Cyclical - 7.9%
LVMH Moet Hennessy Louis Vuitton SE		2,900		853,821
Ford Motor Co.		64,900		810,601
Cie Generale des Etablissements Michelin — Class B*		5,200		745,843
Berkeley Group Holdings plc		11,500		651,456
Sekisui House Ltd.		30,700		554,553
Home Depot, Inc.		2,900		549,637
Iida Group Holdings Company Ltd.		26,900		507,277
Li & Fung Ltd.		873,400		479,579
Hugo Boss AG		5,600		476,622
Crown Resorts Ltd.		44,000		447,039
Harvey Norman Holdings Ltd.		111,500		362,821
WW Grainger, Inc.		1,500		354,375
Carnival plc		3,500		231,109
ITOCHU Corp.		12,200		227,684
Total Consumer, Cyclical				7,252,417
Communications - 7.2%
Cisco Systems, Inc.		25,300		968,990
Verizon Communications, Inc.		14,600		772,778
Facebook, Inc. — Class A*		4,200		741,132
Alphabet, Inc. — Class C*		700		732,480
AT&T, Inc.		18,800		730,944
BCE, Inc.		11,500		552,319
Shaw Communications, Inc. — Class B		22,700		518,031
TELUS Corp.		11,900		450,750
SES S.A.		25,300		394,904
Amazon.com, Inc.*		300		350,841
Motorola Solutions, Inc.		2,500		225,850
Swisscom AG		400		212,864
Total Communications				6,651,883
Utilities - 6.6%
Engie S.A.		44,100		758,457
Duke Energy Corp.		8,373		704,253
CLP Holdings Ltd.		68,137		697,255
Hong Kong & China Gas Company Ltd.		323,100		633,557
Dominion Energy, Inc.		7,668		621,568
WEC Energy Group, Inc.		9,000		597,870
PPL Corp.		18,254		564,961
DTE Energy Co.		3,993		437,074
Emera, Inc.		10,300		384,901
NextEra Energy, Inc.		2,000		312,380
Westar Energy, Inc.		4,800		253,440
Sempra Energy		1,299		138,889
Total Utilities				6,104,605
Basic Materials - 3.6%
DowDuPont, Inc.		13,800		982,836
LyondellBasell Industries N.V. — Class A		7,600		838,432
Mitsubishi Chemical Holdings Corp.		68,400		750,558
Nissan Chemical Industries Ltd.		8,100		323,108
Celanese Corp. — Class A		2,200		235,576
Eastman Chemical Co.		2,000		185,280
Total Basic Materials				3,315,790
Energy - 3.5%
Total S.A.		14,700		812,071
Neste Oyj		12,200		780,888
Woodside Petroleum Ltd.		28,800		743,429
OMV AG		10,500		665,525
Exxon Mobil Corp.		2,200		184,008
Total Energy				3,185,921
Diversified - 0.7%
Jardine Matheson Holdings Ltd.		10,700		650,025
Total Common Stocks
(Cost $82,049,501)				90,853,906

MONEY MARKET FUND† - 0.9%
Goldman Sachs Financial Square Treasury Instruments Fund - Institutional Class 1.14%1	829,986		829,986
Total Money Market Fund
(Cost $829,986)			829,986
Total Investments - 99.7%
(Cost $82,879,487)		$	91,683,892
Other Assets & Liabilities, net - 0.3%			267,352
Total Net Assets - 100.0%		$	91,951,244

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
1	Rate indicated is the 7 day yield as of December 31, 2017.

ADR — American Depositary Receipt

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at December 31, 2017 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	90,853,906	$	—	$	—	$	90,853,906
Money Market Fund		829,986		—		—		829,986
Total Assets	$	91,683,892	$	—	$	—	$	91,683,892

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Transfers between valuation levels, if any, are in comparison to the valuation levels at the end of the previous fiscal year, and are effective using the fair value as of the end of the current fiscal period.

For the period ended December 31, 2017, there were no transfers between levels.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Note 1 – Organization, Consolidation of Subsidiary, and Significant Accounting Policies

Organization

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

This report covers Alpha Opportunity Fund, Capital Stewardship Fund, Diversified Income Fund, Floating Rate Strategies Fund, High Yield Fund, Investment Grade Bond Fund, Large Cap Value Fund, Limited Duration Fund, Macro Opportunities Fund, Market Neutral Real Estate Fund, Mid Cap Value Fund, Mid Cap Value Institutional Fund, Municipal Income Fund, Risk Managed Real Estate Fund, Small Cap Value Fund, StylePlus—Large Core Fund, StylePlus—Mid Growth Fund, Total Return Bond Fund and World Equity Income Fund (the "Funds"), which are each a non-diversified investment company.

Consolidation of Subsidiary

The Consolidated Schedule of Investments of the Macro Opportunities Fund include the accounts of a wholly-owned and controlled Cayman Islands subsidiary (the “Subsidiary”). Inter-company accounts and transactions have been eliminated in consolidation for the Fund.

The Fund may invest up to 25% of its total assets in its Subsidiary which acts as an investment vehicle in order to effect certain investments consistent with the Fund’s investment objectives and policies. Holdings specific to the Subsidiary are footnoted on the Consolidated Schedule of Investments.

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

Significant Accounting Policies

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

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

The net asset value (“NAV”) per share of a fund is calculated by dividing the market value of the fund’s securities and other assets, less all liabilities, by the number of outstanding shares of the fund.

(a) Valuation of Investments

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

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

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

Equity securities listed on an exchange (New York Stock Exchange (“NYSE”) or American Stock Exchange) are valued at the last quoted sale price as of the close of business on the NYSE, usually 4:00 p.m. on the valuation date. Equity securities listed on the NASDAQ market system are valued at the NASDAQ Official Closing Price on the valuation date, which may not necessarily represent the last sale price. If there has been no sale on such exchange or NASDAQ on a given day, the security is valued at the closing bid price on that day.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Generally, trading in foreign securities markets is substantially completed each day at various times prior to the close of the NYSE. The values of foreign securities are determined as of the close of such foreign markets or the close of the NYSE, if earlier. All investments quoted in foreign currencies are valued in U.S. dollars on the basis of the foreign currency exchange rates prevailing at the close of U.S. business. Investments in foreign securities may involve risks not present in domestic investments. The Valuation Committee will determine the current value of such foreign securities by taking into consideration certain factors which may include those discussed above, as well as the following factors, among others: the value of the securities traded on other foreign markets, ADR trading, closed-end fund trading, foreign currency exchange activity, and the trading prices of financial products that are tied to foreign securities. The Board has authorized the Valuation Committee and Guggenheim Investments ("GI") to use prices and other information supplied by a third party pricing vendor in valuing foreign securities.

Open-end investment companies ("mutual funds") are valued at their NAV as of the close of business, on the valuation date. Exchange-traded funds ("ETFs") and closed-end investment companies ("CEFs") are valued at the last quoted sale price.

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

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

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

Typically, loans are valued using information provided by an independent third party pricing service which uses broker quotes in a non-active market.

Listed options are valued at the Official Settlement Price listed by the exchange, usually as of 4:00 p.m. Long options are valued using the bid price and short options are valued using the ask price. In the event that a settlement price is not available, fair valuation is enacted. Over-the-counter ("OTC") options are valued using the average bid price (for long options) or average ask price (for short options) obtained from one or more security dealers.

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

The values of over-the-counter ("OTC") swap agreements entered into by a Fund are accounted for using the unrealized gains or losses on the agreements that are determined by marking the agreements to the last quoted value of the index that the swaps pertain to at the close of the NYSE.

The value of interest rate swap agreements entered into by a Fund is accounted for using the unrealized gain or loss on the agreements that is determined using the spread priced off the previous day’s Chicago Mercantile Exchange ("CME") price.

The value of equity swaps with custom portfolio baskets shall be computed by using the last exchange sale price for each underlying equity security within the swap agreement. A custom portfolio equity swap will be adjusted to include dividends accrued, financing charges and/or interest, as applicable, under the swap agreement.

Forward foreign currency exchange contracts are valued daily based on the applicable exchange rate of the underlying currency. The change in value of the contract is recorded as unrealized appreciation or depreciation until the forward foreign currency contract is closed. When the forward foreign currency contract is closed the Fund records a realized gain or loss equal to the difference between the value at the time the contract was opened and the value at the time it was closed.

Investments for which market quotations are not readily available are fair-valued as determined in good faith by GI, under the direction of the Board using methods established or ratified by the Board. Valuations in accordance with these methods are intended to reflect each security’s (or asset’s) “fair value". Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to market prices; sale prices; broker quotes; and models which derive prices based on inputs such as prices of securities with comparable maturities and characteristics, or based on inputs such as anticipated cash flows or collateral, spread over Treasuries, and other information analysis.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

In connection with futures contracts and other derivative investments, such factors may include obtaining information as to how (a) these contracts and other derivative investments trade in the futures or other derivative markets, respectively, and (b) the securities underlying these contracts and other derivative investments trade in the cash market.

Senior loans in which the Fund invests generally pay interest rates which are periodically adjusted by reference to a base short-term floating rate, plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the one month or three-month London Inter-Bank Offered Rate (LIBOR), (ii) the prime rate offered by one or more major United States banks, or (iii) the bank’s certificate of deposit rate. Senior floating rate interests often require prepayments from excess cash flows or permit the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. The interest rate indicated is the rate in effect at December 31, 2017.

Note 2 – Financial Instruments and Derivatives

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

Short Sales

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

Derivatives

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

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

Hedge: an investment made in order to reduce the risk of adverse price movements in a security, by taking an offsetting position to protect against broad market moves.

Income: the use of any instrument that distributes cash flows typically based upon some rate of interest.

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

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

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

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Speculation: the use of an instrument to express macro-economic and other investment views.

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

Options Purchased and Written

A call option on a security gives the purchaser of the option the right to buy, and the writer of a call option the obligation to sell, the underlying security. The purchaser of a put option has the right to sell, and the writer of the put option the obligation to buy, the underlying security at any time during the option period. The risk associated with purchasing options is limited to the premium originally paid.

The risk in writing a call option is that a Fund may incur a loss if the market price of the underlying security increases and the option is exercised. The risk in writing a put option is that a Fund may incur a loss if the market price of the underlying security decreases and the option is exercised. In addition, there may be an imperfect correlation between the movement in prices of options and the underlying securities where a Fund may not be able to enter into a closing transaction because of an illiquid secondary market; or, for OTC options, a Fund may be at risk because of the counterparty’s inability to perform.

Futures

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

Swaps

A swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals based upon or calculated by reference to changes in specified prices or rates for a specified amount of an underlying asset. A Fund utilizing OTC swaps bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a swap agreement counterparty or if the underlying asset declines in value. Certain standardized swaps are subject to mandatory central clearing. Central clearing generally reduces counterparty credit risk and increases liquidity, but central clearing does not make swap transactions risk-free. For Funds utilizing interest rate swaps, the exchange bears the risk of loss. Additionally, there is no guarantee that a Fund or an underlying fund could eliminate its exposure under an outstanding swap agreement by entering into an offsetting swap agreement with the same or another party.

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

Credit default swaps are instruments which allow for the full or partial transfer of third party credit risk, with respect to a particular entity or entities, from one counterparty to the other. In accordance with its principal investment strategy, the Funds enter into credit default swaps as a seller of protection primarily to gain exposure similar to the high yield bond market. A seller of credit default swaps is selling credit protection or assuming credit risk with respect to the underlying entity or entities. If a credit event occurs, as defined under the terms of the swap agreement, the 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 or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. The Notional Principal reflects the maximum potential amount the Fund could be required to pay as a seller of credit protection if a credit event occurs. As the seller of protection, the Fund receives periodic premium payments from the counterparty and may also receive or pay an upfront premium adjustment to the stated periodic premium. In the event a credit event occurs, an adjustment will be made to any upfront premiums that were received by a reduction of 1.00% per credit event.

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

A credit default swap enables a Fund to buy or sell protection against a defined credit event of an issuer or a basket of securities. Generally, the seller of credit protection against an issuer or basket of securities receives a periodic payment from the buyer to compensate against potential default events. If a default event occurs, the seller must pay the buyer the full notional value of the reference obligation in exchange for the reference obligation. If no default occurs, the counterparty will pay the stream of payments and have no further obligations to the Fund selling the credit protection. A Fund bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a swap agreement counterparty, or in the case of a credit default swap in which the Fund is selling credit protection, the default of a third party issuer.

Interest rate swaps involve the exchange by the Funds with another party for their respective commitment to pay or receive a fixed or variable interest rate on a notional amount of principal. Interest rate swaps are generally centrally-cleared, but central clearing does not make interest rate swap transactions risk free.

Forward Foreign Currency Exchange Contracts

A forward foreign currency exchange contract is an agreement between two parties to exchange two designated currencies at a specific time in the future. Certain types of contracts may be cash settled, in an amount equal to the change in exchange rates during the term of the contract. The contracts can be used to hedge or manage exposure to foreign currency risks with portfolio investments or to gain exposure to foreign currencies.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

The market value of a forward foreign currency exchange contract changes with fluctuations in foreign currency exchange rates. Furthermore, the Funds may be exposed to risk if the counterparties cannot meet the contract terms or if the currency value changes unfavorably as compared to the U.S. dollar.

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

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

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

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

Note 3 – Fair Value Measurement

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

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

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

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

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

Independent pricing services are used to value a majority of the Funds’ investments. When values are not available from a pricing service, they may be computed by the Funds’ investment adviser or an affiliate. In any event, values may be determined using a variety of sources and techniques, including: market prices; broker quotes; and models which derive prices based on inputs such as prices of securities with comparable maturities and characteristics or based on inputs such as anticipated cash flows or collateral, spread over Treasuries, and other information and analysis. A significant portion of the Funds’ assets and liabilities are categorized as Level 2 or Level 3, as indicated in this report.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Indicative quotes from broker-dealers, adjusted for fluctuations in criteria such as credit spreads and interest rates, may be also used to value the Funds’ assets and liabilities, i.e. prices provided by a broker-dealer or other market participant who has not committed to trade at that price. Although indicative quotes are typically received from established market participants, the Funds may not have the transparency to view the underlying inputs which support the market quotations. Significant changes in an indicative quote would generally result in significant changes in the fair value of the security.

Certain fixed income securities are valued by obtaining a monthly indicative quote from a broker-dealer, adjusted for fluctuations in criteria such as credit spreads and interest rates.

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

Note 4 – Repurchase Agreements

In connection with transactions in repurchase agreements, it is the Funds’ policy that their custodian takes possession of the underlying collateral. The collateral is in the possession of the Funds’ custodian and is evaluated to ensure that its market value exceeds, at a minimum, 102% of the original face amount of the repurchase agreements.

Repurchase Agreements
Fund	Counterparty and Terms of Agreement	Face Value		Repurchase Price		Collateral		Par Value		Fair Value
Limited Duration Fund	BNP Paribas Securities Corp.					Mastr Specialized Loan Trust
	2.00%						1.81%
	02/05/18	$	57,455,300	$	57,602,130		06/25/46	$	85,000,000	$	81,311,000
							Morgan Stanley Capital Inc.
							2.57%
							10/25/33		56,315,000		55,154,911
							Ameriquest Mortgage Securities Inc.
							2.00%
							01/25/36		22,224,580		20,922,220
							Securitized Asset Backed Receivables LLC Trust
							2.00%
							10/25/35		13,000,000		11,554,400
							JP Morgan Mortgage Trust
							3.40%
							04/25/36		3,000,000		2,985,000
								$	179,539,580	$	171,927,531
Macro Opportunities Fund	Barclays						Seagate HDD Cayman
	(1.75%) -1.05%						4.75%
	Open Maturity		15,163,646		15,163,646		01/01/25		8,000,000		7,856,000
							Tenet Healthcare Corp.
							8.13%
							04/01/22		1,925,000		1,958,688
							Park-Ohio Industries Inc.
							6.63%
							04/15/27		1,400,000		1,508,500
							INEOS Group Holdings SA
							5.63%
							08/01/24		1,100,000		1,146,750
							AK Steel Corp.
							6.38%
							10/15/25		1,000,000		990,000
							Gogo Intermediate Holdings LLC / Gogo Finance Co Inc.
							12.50%
							07/01/22		500,000		564,400
							Monitronics International Inc.
							9.13%
							04/01/20		350,000		290,500
							Envision Healthcare Corp.
							5.13%
							07/01/22		250,000		242,500
							Herc Rentals Inc.
							7.75%
							06/01/24		200,000		219,500
							Sprint Corp.
							7.88%
							09/15/23		200,000		213,000
								$	14,925,000	$	14,989,838

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

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

Note 5 – Federal Income Tax Information

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

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

At December 31, 2017, the cost of securities for federal income tax purposes, the aggregate gross unrealized gain for all securities for which there was an excess of value over tax cost, and the aggregate gross unrealized loss for all securities for which there was an excess of tax cost over value were as follows:

Fund	Tax Cost		Tax Unrealized Gain		Tax Unrealized Loss			Net Unrealized Gain (Loss)
Alpha Opportunity Fund	$	228,176,159	$	21,084,960	$	(21,290,826	)	$	(205,866	)
Capital Stewardship Fund		209,097,765		22,775,907		(2,001,719	)		20,774,188
Diversified Income Fund		5,644,249		433,492		(2,342	)		431,150
Floating Rate Strategies Fund		3,592,957,605		34,622,645		(40,847,268	)		(6,224,623	)
High Yield Fund		572,351,156		11,696,098		(10,345,759	)		1,350,339
Investment Grade Bond Fund		393,692,307		6,096,029		(5,687,644	)		408,385
Large Cap Value Fund		55,283,698		14,498,516		(1,161,765	)		13,336,751
Limited Duration Fund		2,624,688,589		22,633,539		(13,706,534	)		8,927,005
Macro Opportunities Fund		6,458,473,032		159,586,772		(128,989,698	)		30,597,074
Market Neutral Real Estate Fund		5,195,642		607,535		(77,586	)		529,949
Mid Cap Value Fund		417,090,889		109,507,136		(20,659,931	)		88,847,205
Mid Cap Value Institutional Fund		70,065,100		14,329,418		(3,183,746	)		11,145,672
Municipal Income Fund		49,218,321		1,876,935		(224,233	)		1,652,702
Risk Managed Real Estate Fund		125,968,346		12,265,592		(2,877,414	)		9,388,178
Small Cap Value Fund		18,166,799		3,786,120		(1,381,573	)		2,404,547
StylePlus—Large Core Fund		218,223,279		20,161,315		(560,277	)		19,601,038
StylePlus—Mid Growth Fund		85,444,446		8,445,919		(373,466	)		8,072,453
Total Return Bond Fund		8,930,566,396		183,473,169		(44,630,650	)		138,842,519
World Equity Income Fund		83,070,960		9,404,110		(791,178	)		8,612,932

Note 6 – Unfunded Loan Commitments

Pursuant to the terms of certain loan agreements, certain Funds held unfunded loan commitments as of December 31, 2017. The Funds are obligated to fund these loan commitments at the borrower’s discretion.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

The unfunded loan commitments as of December 31, 2017, were as follows:
Fund	Borrower	Maturity Date	Face Amount**		Value
Floating Rate Strategies Fund
	Advantage Sales & Marketing LLC	07/25/19	$	8,000,000	$	322,310
	American Stock Transfer & Trust	06/26/18		800,000		9,746
	Ceva Group plc (United Kingdom)	03/19/19		1,104,876		54,905
	Engineered Machinery Holdings, Inc.	07/19/24		669,690		—	*
	Itron, Inc.	03/17/18		5,600,000		—	*
	Recess Holdings, Inc.	09/30/24		690,476		1,664
	Signode Industrial Group US, Inc.	05/01/19		10,602,000		353,159
	Wencor Group	06/19/19		1,446,923		49,835
			$	28,913,965	$	791,619
High Yield Fund
	Acosta, Inc.	09/26/19		466,667		21,628
	Arby’s Restaurant Group	12/18/18		6,900,000		—	*
	Advantage Sales & Marketing LLC	07/25/19		1,100,000		44,317
	BBB Industries, LLC	11/04/19		1,000,000		50,678
	Bullhorn, Inc.	11/21/22		589,038		9,191
	Cypress Intermediate Holdings III, Inc.	04/27/22		750,000		80,551
	Epicor Software	06/01/20		1,000,000		60,059
	Hillman Group, Inc.	06/28/19		757,143		24,995
	ICP Industrial, Inc.	11/03/23		260,343		1,262
	ICSH Parent, Inc.	04/29/24		140,544		—	*
	Itron, Inc.	03/17/18		2,000,000		—	*
	Learning Care Group (US), Inc.	05/05/19		500,000		29,223
	Lytx, Inc.	08/31/22		105,263		12,293
	MRI Software LLC	06/30/23		472,223		1,624
	National Technical Systems	06/12/21		250,000		17,971
	Packaging Coordinators Midco, Inc.	07/01/21		992,774		86,949
	Pro Mach Group, Inc.	10/22/19		900,000		39,305
	Recess Holdings, Inc.	09/30/24		166,667		402
	Signode Industrial Group US, Inc.	05/01/19		1,674,000		55,762
	Solera LLC	03/03/21		1,250,000		111,695
	Wencor Group	06/19/19		482,308		16,612
			$	21,756,970	$	664,517
Macro Opportunities Fund
	Acosta, Inc.	09/26/19		2,800,000		129,766
	Advantage Sales & Marketing LLC	07/25/19		1,500,000		60,433
	American Stock Transfer & Trust	06/26/18		400,000		4,873
	Arby's Restaurant Group, Inc.	06/04/18		14,700,000		—	*
	BBB Industries, LLC	11/04/19		1,750,000		88,686
	Bullhorn, Inc.	11/21/22		1,682,965		26,260
	Ceva Group Plc (United Kingdom)	03/19/19		368,292		18,302
	Dominion Web Solutions LLC	06/15/23		461,538		—	*
	Dubois Chemicals, Inc.	03/15/24		200,000		887
	Engineered Machinery Holdings, Inc.	07/19/24		309,292		—	*
	Epicor Software	06/01/20		2,000,000		120,118
	Fortis Solutions Group LLC	12/15/23		1,258,822		61,307
	Hillman Group, Inc.	06/28/19		757,143		24,995
	ICP Industrial, Inc.	11/3/23		520,686		2,523
	ICSH Parent, Inc.	04/29/24		260,589		—	*
	Institutional Shareholder Services	10/16/24		66,667		161
	Itron, Inc.	03/17/18		1,100,000		—	*
	Learning Care Group (US), Inc.	050/5/19		500,000		29,223
	Lytx, Inc.	08/31/22		363,158		42,412
	Ministry Brands LLC	12/02/22		71,215		356
	MRI Software LLC	06/30/23		250,000		860
	National Technical Systems	06/12/21		250,000		17,971
	Pro Mach Group, Inc.	10/22/19		900,000		39,305
	Recess Holdings, Inc.	09/30/24		95,238		230
	Signode Industrial Group US, Inc.	05/01/19		3,162,000		105,328
	Solera LLC	03/03/21		8,100,000		723,781
	Wencor Group	06/19/19		253,846		8,743
			$	44,081,451	$	1,506,520
Total Return Bond Fund
	Acosta, Inc.	09/26/19		1,026,667		47,581
	Engineered Machinery Holdings, Inc.	07/19/24		13,274		—	*
			$	1,039,941	$	47,581

* Security has a market value of less than $1.

** The face amount is denominated in U.S. dollars unless otherwise indicated.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Note 7 – Restricted Securities

The securities below are considered illiquid and restricted under guidelines established by the Board:

Fund	Restricted Securities	Acquisition Date	Cost		Value
Floating Rate Strategies Fund
	Airplanes Pass Through Trust
	2001-1A, 1.78%
	(1 Month USD LIBOR + 0.55%)
	due 03/15/19	12/27/11	$	832,564	$	185,156
High Yield Fund
	Schahin II Finance Co. SPV Ltd.
	5.88% due 09/25/22	03/12/15	$	139,296	$	23,888
Investment Grade Bond Fund
	ACC Group Housing LLC
	A-1 6.35% due 07/15/54	06/03/14		300,000		361,449
	Atlantic Marine Corporations Communities LLC
	5.43% due 12/01/50	07/25/14		362,283		381,510
	Capmark Military Housing Trust
	2007-AETC, 5.75% due 02/10/52	09/18/14		329,645		337,665
	Capmark Military Housing Trust
	2007-ROBS, 6.06% due 10/10/52	04/23/15		469,476		500,514
	Copper River CLO Ltd.
	2007-1A,  due 01/20/21	05/09/14		819,000		77,493
	GMAC Commercial Mortgage Asset Corp.
	2007-HCKM, 6.11% due 08/10/52	10/07/16		1,731,821		1,700,341
	Highland Park CDO I Ltd.
	2006-1A, 1.86%
	(3 Month USD LIBOR + 0.40%)
	due 11/25/51	07/01/16		432,985		445,662
	HP Communities LLC
	5.78% due 03/15/46	08/23/16		592,152		551,244
	Northern Group Housing LLC
	6.80% due 08/15/53	07/25/13		600,000		749,121
	Pacific Northwest Communities LLC
	5.91% due 06/15/50	05/22/14		400,000		438,184
	Turbine Engines Securitization Ltd.
	2013-1A, 5.13% due 12/13/48	11/27/13		620,162		626,430
	Woodbourne Capital Trust I	01/20/06		954,588		725,625
	Woodbourne Capital Trust II	01/20/06		954,588		725,625
	Woodbourne Capital Trust III	01/20/06		954,589		725,626
	Woodbourne Capital Trust IV	01/20/06		954,589		725,626
			$	10,475,878	$	9,072,115
Limited Duration Fund
	Copper River CLO Ltd.
	2007-1A, due 01/20/21	05/09/14	$	585,000	$	55,352
	Schahin II Finance Co. SPV Ltd.
	5.88% due 09/25/22	01/08/14		375,036		42,999
			$	960,036	$	98,351

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Fund	Restricted Securities	Acquisition Date	Cost		Value
Macro Opportunities Fund
	Airplanes Pass Through Trust
	2001-1A, 1.78%
	(1 Month USD LIBOR + 0.55%)
	due 03/15/19	01/18/11		1,947,585		433,201
	Banco Bradesco SA
	2014-1, 5.44% due 03/12/26	11/19/14		2,726,407		2,746,855
	Capmark Military Housing Trust
	2007-AET2, 6.06% due 10/10/52	04/23/15		5,804,509		6,235,537
	Copper River CLO Ltd.
	2007-1A, due 01/20/21	05/09/14		9,535,500		902,237
	Customers Bank
	6.13% due 06/26/29	06/24/14		4,500,000		4,736,250
	Epicor Software Corp.
	9.94% (3 Month USD LIBOR + 8.25%)
	due 06/30/23	05/21/15		1,807,863		1,850,000
	Highland Park CDO I Ltd.
	2006-1A, 1.86%
	(3 Month USD LIBOR + 0.40%)
	due 11/25/51	04/14/15		2,816,964		3,676,714
	Princess Juliana International Airport Operating Company N.V.
	5.50% due 12/20/27	12/17/12		1,611,856		1,424,375
	Schahin II Finance Co. SPV Ltd.
	5.88% due 09/25/22	03/21/12		4,838,890		831,314
	Turbine Engines Securitization Ltd.
	2013-1A, 5.13% due 12/13/48	11/27/13		2,894,638		2,923,894
	Turbine Engines Securitization Ltd.
	2013-1A, 6.38% due 12/13/48	11/27/13		2,047,737		2,003,972
			$	40,531,949	$	27,764,349
Total Return Bond Fund
	ACC Group Housing LLC
	A-1 6.35% due 07/15/54	06/03/14		625,000		753,019
	Airplanes Pass Through Trust
	2001-1A, 1.78%
	(1 Month USD LIBOR + 0.55%)
	due 03/15/19	11/30/11		386,780		84,597
	Atlantic Marine Corporations Communities LLC
	5.43% due 12/01/50	07/25/14		1,391,359		1,430,664
	Capmark Military Housing Trust
	2008-AMCW, 6.90% due 07/10/55	05/20/16		10,720,843		10,846,408
	Capmark Military Housing Trust
	2007-AET2, 6.06% due 10/10/52	10/16/15		2,145,494		2,338,326
	Capmark Military Housing Trust
	2007-AETC, 5.75% due 02/10/52	09/18/14		8,244,585		8,345,164
	Capmark Military Housing Trust
	2006-RILY, 1.80% due 07/10/51	10/11/16		4,279,746		5,043,772
	Capmark Military Housing Trust
	2007-ROBS, 6.06% due 10/10/52	04/23/15		4,694,771		5,005,136
	Copper River CLO Ltd.
	2007-1A, due 01/20/21	05/09/14		1,755,000		166,056
	Customers Bank
	6.13% due 06/26/29	06/24/14		2,000,000		2,105,000
	Fort Benning Family Communities LLC
	1.83% (1 Month USD LIBOR + 0.35%)
	due 01/15/36	03/27/15		4,807,513		5,037,538
	Fort Knox Military Housing Privatization Project
	1.82% (1 Month USD LIBOR + 0.35%) due 02/15/52	04/09/15		1,117,770		1,172,716
	GMAC Commercial Mortgage Asset Corp.
	2007-HCKM, 6.11% due 08/10/52	10/07/16		26,144,923		25,669,661
	GMAC Commercial Mortgage Asset Corp.
	2005-DRUM, 5.47% due 05/10/50	05/10/50		4,992,729		5,044,282

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Fund	Restricted Securities	Acquisition Date		Cost		Value
	GMAC Commercial Mortgage Asset Corp.
	2005-BLIS, 5.25% due 05/20/16	05/20/16		2,593,457		2,572,060
	Highland Park CDO I Ltd.
	2006-1A, 1.86%
	(3 Month USD LIBOR + 0.40%)
	due 11/25/51	07/01/16		3,247,390		3,342,468
	HP Communities LLC
	5.86% due 09/15/53	10/06/16		1,614,677		1,561,165
	HP Communities LLC
	5.78% due 03/15/46	08/23/16		2,544,432		2,370,348
	HP Communities LLC
	5.62% due 09/15/32	06/09/14		1,009,830		1,067,308
	Northern Group Housing LLC
	6.80% due 08/15/53	07/25/13		1,200,000		1,498,243
	Pacific Northwest Communities LLC
	5.91% due 06/15/50	05/22/14		1,000,000		1,095,459
	Princess Juliana International Airport Operating Company N.V.
	5.50% due 12/20/27	12/17/12		2,436,530		2,153,124
	Schahin II Finance Co. SPV Ltd.
	5.88% due 09/25/22	03/21/12		777,505		85,998
	Turbine Engines Securitization Ltd.
	2013-1A, 5.13% due 12/13/48	11/27/13		1,034,153		1,044,605
			$	90,764,487	$	89,833,118

OTHER INFORMATION (Unaudited)                           

Sector Classification

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

Item 2. Controls and Procedures.

(a) The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “Investment Company Act”)) as of a date within 90 days of the filing date of this report and have concluded, based on such evaluation, that the registrant’s disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

(b) There was no change in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the registrant’s last fiscal quarter that has materially affected or is reasonably likely to materially affect the registrant’s internal control over financial reporting.

Item 3. Exhibits.

A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act (17 CFR 270.30a-2(a)) is attached hereto.

SIGNATURES

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.

(Registrant)	Guggenheim Funds Trust
By (Signature and Title)*	/s/ Amy J. Lee
	Amy J. Lee, President, Chief Executive Officer and
	Chief Legal Officer
Date	February 28, 2018

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.

By (Signature and Title)*	/s/ Amy J. Lee
	Amy J. Lee, President, Chief Executive Officer and
	Chief Legal Officer
Date	February 28, 2018
By (Signature and Title)*	/s/ John L. Sullivan
	John L. Sullivan, Chief Financial Officer,
	Chief Accounting Officer and Treasurer
Date	February 28, 2018

* Print the name and title of each signing officer under his or her signature.

EX-99.CERT

EX.-3(i)

CERTIFICATIONS

I, Amy J. Lee, certify that:

1. I have reviewed this report on Form N-Q of Guggenheim Funds Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 28, 2018

/s/ Amy J. Lee

Amy J. Lee

President and Chief Executive Officer and

Chief Legal Officer

EX.-3(ii)

CERTIFICATIONS

I, John L. Sullivan, certify that:

1. I have reviewed this report on Form N-Q of Guggenheim Funds Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 28, 2018

/s/ John L. Sullivan

John L. Sullivan

Chief Financial Officer, Chief Accounting Officer and Treasurer