NPORT-EX 2 scg.htm N-PORT PART F

Small Company Growth Portfolio
Schedule of Investments
as of March 31, 2024 (Unaudited)

COMMON STOCKS - 97.9%
  
Shares
    
Value
Communication Services - 0.7%
    
Cargurus, Inc.(a)
  
1,019
   $
 23,519
Cars.com, Inc.(a)
  
355
    
   6,099
IMAX Corp.(a)
  
855
    
   13,825
Lions Gate Entertainment Corp. - Class A(a)
  
1,019
    
   10,139
Lions Gate Entertainment Corp. - Class B(a)
  
1,063
    
   9,897
MediaAlpha, Inc. - Class A(a)
  
196
    
   3,993
PubMatic, Inc. - Class A(a)
  
106
    
   2,514
Shutterstock, Inc.
  
515
    
   23,592
The EW Scripps Co. - Class A(a)
  
240
    
   943
Vimeo, Inc.(a)
  
2,139
    
   8,749
Vivid Seats, Inc. - Class A(a)
  
11,965
    
   71,670
Yelp, Inc.(a)
  
583
    
   22,970
         
   197,910
             
Consumer Discretionary - 11.4%
    
Abercrombie & Fitch Co. - Class A(a)
  
303
    
   37,975
Academy Sports & Outdoors, Inc.
  
610
    
   41,199
American Eagle Outfitters, Inc.
  
2,192
    
   56,532
America's Car-Mart, Inc.(a)
  
1,412
    
   90,184
Boot Barn Holdings, Inc.(a)
  
3,169
    
   301,530
Brinker International, Inc.(a)
  
100
    
   4,968
Carvana Co.(a)
  
515
    
   45,274
Cavco Industries, Inc.(a)
  
11
    
   4,390
Coursera, Inc.(a)
  
1,157
    
   16,221
Dillard's, Inc. - Class A
  
7
    
   3,301
Dine Brands Global, Inc.
  
64
    
   2,975
Figs, Inc. - Class A(a)
  
1,722
    
   8,576
Frontdoor, Inc.(a)
  
1,207
    
   39,324
Green Brick Partners, Inc.(a)
  
684
    
   41,197
Hibbett, Inc.
  
345
    
   26,499
Hilton Grand Vacations, Inc.(a)
  
746
    
   35,219
Inspired Entertainment, Inc.(a)
  
207
    
   2,041
Installed Building Products, Inc.
  
324
    
   83,829
KB Home
  
29
    
   2,056
Laureate Education, Inc.
  
1,748
    
   25,468
Light & Wonder, Inc. - Class A(a)
  
175
    
   17,866
M/I Homes, Inc.(a)
  
33
    
   4,498
Marine Products Corp.
  
205
    
   2,409
Murphy USA, Inc.
  
12
    
   5,030
National Vision Holdings, Inc.(a)
  
100
    
   2,216
OneSpaWorld Holdings Ltd.(a)
  
20,436
    
   270,368
Perdoceo Education Corp.
  
376
    
   6,603
Portillo's, Inc. - Class A(a)
  
9,675
    
   137,192
Potbelly Corp.(a)
  
1,773
    
   21,471
Revolve Group, Inc.(a)
  
214
    
   4,530
Shake Shack, Inc. - Class A(a)
  
263
    
   27,360
Skyline Champion Corp.(a)
  
3,367
    
   286,229
Steven Madden Ltd.
  
4,873
    
   206,030
Stitch Fix, Inc. - Class A(a)
  
2,514
    
   6,637
Stride, Inc.(a)
  
1,053
    
   66,392
Texas Roadhouse, Inc.
  
3,023
    
   466,962
The Buckle, Inc.
  
1,114
    
   44,861
The Cheesecake Factory, Inc.
  
863
    
   31,197
The Lovesac Co.(a)
  
5,337
    
   120,616
TopBuild Corp.(a)
  
709
    
   312,477
Tri Pointe Homes, Inc.(a)
  
149
    
   5,760
Upbound Group, Inc.
  
62
    
   2,183
Urban Outfitters, Inc.(a)
  
850
    
   36,907
Visteon Corp.(a)
  
223
    
   26,227
Wolverine World Wide, Inc.
  
252
    
   2,825
XPEL, Inc.(a)
  
39
    
   2,107
Xponential Fitness, Inc. - Class A(a)
  
1,783
    
   29,491
         
   3,015,202
             
Consumer Staples - 5.9%
    
BellRing Brands, Inc.(a)
  
131
    
   7,733
Cal-Maine Foods, Inc.
  
365
    
   21,480
Celsius Holdings, Inc.(a)
  
102
    
   8,458
Coca-Cola Consolidated, Inc.
  
11
    
   9,311
Coty, Inc. - Class A(a)
  
13,138
    
   157,130
elf Beauty, Inc.(a)
  
1,801
    
   353,050
Grocery Outlet Holding Corp.(a)
  
9,020
    
   259,596
Inter Parfums, Inc.
  
255
    
   35,830
J & J Snack Foods Corp.
  
890
    
   128,658
Lancaster Colony Corp.
  
43
    
   8,928
PriceSmart, Inc.
  
379
    
   31,836
Sprouts Farmers Market, Inc.(a)
  
1,724
    
   111,164
SunOpta, Inc.(a)
  
21,046
    
   144,586
The Chefs' Warehouse, Inc.(a)
  
3,914
    
   147,401
The Honest Co., Inc.(a)
  
2,726
    
   11,040
The Vita Coco Co., Inc.(a)
  
4,368
    
   106,710
Vital Farms, Inc.(a)
  
1,735
    
   40,339
         
   1,583,250
             
Energy - 5.7%
    
Archrock, Inc.
  
1,494
    
   29,387
ChampionX Corp.
  
781
    
   28,030
Dorian LPG Ltd.
  
1,229
    
   47,267
Dril-Quip, Inc.(a)
  
7,005
    
   157,823
Equitrans Midstream Corp.
  
4,512
    
   56,355
Excelerate Energy, Inc. - Class A
  
13,030
    
   208,741
Golar LNG Ltd.
  
369
    
   8,878
Liberty Energy, Inc.
  
1,653
    
   34,250
Magnolia Oil & Gas Corp. - Class A
  
9,540
    
   247,563
Noble Corp. PLC
  
596
    
   28,900
Oceaneering International, Inc.(a)
  
1,237
    
   28,946
Patterson-UTI Energy, Inc.
  
802
    
   9,576
Permian Resources Corp.
  
30,980
    
   547,106
REX American Resources Corp.(a)
  
239
    
   14,032
US Silica Holdings, Inc.(a)
  
549
    
   6,813
Weatherford International PLC(a)
  
450
    
   51,940
         
   1,505,607
             
Financials - 7.4%
    
Artisan Partners Asset Management, Inc. - Class A
  
1,823
    
   83,439
AvidXchange Holdings, Inc.(a)
  
214
    
   2,814
Axos Financial, Inc.(a)
  
35
    
   1,891
BayCom Corp.
  
47
    
   969
Cadence Bank
  
8,488
    
   246,152
Coastal Financial Corp.(a)
  
57
    
   2,216
Diamond Hill Investment Group, Inc.
  
20
    
   3,083
eHealth, Inc.(a)
  
1,177
    
   7,097
First BanCorp/Puerto Rico
  
210
    
   3,683
First Financial Bankshares, Inc.
  
871
    
   28,578
FirstCash Holdings, Inc.
  
163
    
   20,789
Flywire Corp.(a)
  
246
    
   6,103
Hamilton Lane, Inc. - Class A
  
729
    
   82,202
HCI Group, Inc.
  
343
    
   39,815
Home BancShares, Inc.
  
11,107
    
   272,899
HomeTrust Bancshares, Inc.
  
209
    
   5,714
I3 Verticals, Inc. - Class A(a)
  
6,138
    
   140,499
LendingTree, Inc.(a)
  
278
    
   11,771
Marqeta, Inc. - Class A(a)
  
4,476
    
   26,677
NMI Holdings, Inc. - Class A(a)
  
884
    
   28,589
Pagseguro Digital Ltd. - Class A(a)
  
2,394
    
   34,186
Palomar Holdings, Inc.(a)
  
410
    
   34,370
Patria Investments Ltd. - Class A
  
4,833
    
   71,722
Repay Holdings Corp.(a)
  
19,180
    
   210,980
Selective Insurance Group, Inc.
  
545
    
   59,498
StepStone Group, Inc. - Class A
  
935
    
   33,417
StoneCo Ltd. - Class A(a)
  
5,365
    
   89,113
Texas Capital Bancshares, Inc.(a)
  
1,829
    
   112,575
The Bancorp, Inc.(a)
  
392
    
   13,116
Triumph Financial, Inc.(a)
  
2,693
    
   213,609
Trupanion, Inc.(a)(b)
  
476
    
   13,142
Universal Insurance Holdings, Inc.
  
744
    
   15,118
Virtus Investment Partners, Inc.
  
84
    
   20,830
World Acceptance Corp.(a)
  
35
    
   5,074
         
   1,941,730
             
Health Care - 26.1%(c)
    
4D Molecular Therapeutics, Inc.(a)
  
82
    
   2,613
ACADIA Pharmaceuticals, Inc.(a)
  
1,658
    
   30,656
Accolade, Inc.(a)
  
1,051
    
   11,014
AdaptHealth Corp.(a)
  
419
    
   4,823
Adaptive Biotechnologies Corp.(a)
  
597
    
   1,916
Addus HomeCare Corp.(a)
  
212
    
   21,908
Agenus, Inc.(a)
  
4,822
    
   2,797
Akero Therapeutics, Inc.(a)
  
255
    
   6,441
Aldeyra Therapeutics, Inc.(a)
  
926
    
   3,028
Alignment Healthcare, Inc.(a)
  
381
    
   1,890
Alkermes PLC(a)
  
2,925
    
   79,180
Amicus Therapeutics, Inc.(a)
  
3,633
    
   42,797
Amphastar Pharmaceuticals, Inc.(a)
  
194
    
   8,519
Anavex Life Sciences Corp.(a)(b)
  
646
    
   3,288
ANI Pharmaceuticals, Inc.(a)
  
2,349
    
   162,386
Apollo Medical Holdings, Inc.(a)
  
74
    
   3,107
Arcus Biosciences, Inc.(a)
  
114
    
   2,152
Arcutis Biotherapeutics, Inc.(a)
  
996
    
   9,870
Arvinas, Inc.(a)
  
837
    
   34,551
AtriCure, Inc.(a)(b)
  
969
    
   29,477
Axonics, Inc.(a)
  
73
    
   5,035
Beam Therapeutics, Inc.(a)
  
506
    
   16,718
BioCryst Pharmaceuticals, Inc.(a)
  
2,408
    
   12,233
BioLife Solutions, Inc.(a)
  
11,034
    
   204,681
Bluebird Bio, Inc.(a)
  
30,942
    
   39,606
Blueprint Medicines Corp.(a)
  
573
    
   54,355
Bridgebio Pharma, Inc.(a)
  
260
    
   8,039
Caribou Biosciences, Inc.(a)
  
12,769
    
   65,633
Castle Biosciences, Inc.(a)
  
6,364
    
   140,963
Catalyst Pharmaceuticals, Inc.(a)
  
2,879
    
   45,891
Celldex Therapeutics, Inc.(a)
  
220
    
   9,233
Cerus Corp.(a)
  
3,444
    
   6,509
Chemed Corp.
  
493
    
   316,472
Codexis, Inc.(a)
  
591
    
   2,063
Coherus Biosciences, Inc.(a)
  
1,851
    
   4,424
Collegium Pharmaceutical, Inc.(a)
  
752
    
   29,193
CONMED Corp.
  
2,231
    
   178,658
Corcept Therapeutics, Inc.(a)
  
713
    
   17,960
CryoPort, Inc.(a)
  
9,249
    
   163,707
Cytokinetics, Inc.(a)
  
601
    
   42,136
CytoSorbents Corp.(a)
  
12,848
    
   12,206
Deciphera Pharmaceuticals, Inc.(a)
  
507
    
   7,975
Denali Therapeutics, Inc.(a)
  
1,668
    
   34,227
Edgewise Therapeutics, Inc.(a)(b)
  
6,932
    
   126,440
Embecta Corp.
  
236
    
   3,132
Evolus, Inc.(a)
  
577
    
   8,078
Guardant Health, Inc.(a)
  
360
    
   7,427
Haemonetics Corp.(a)
  
712
    
   60,769
Halozyme Therapeutics, Inc.(a)
  
2,520
    
   102,514
Harmony Biosciences Holdings, Inc.(a)
  
497
    
   16,689
Harvard Bioscience, Inc.(a)
  
45,571
    
   193,221
Health Catalyst, Inc.(a)
  
18,406
    
   138,597
HealthEquity, Inc.(a)
  
230
    
   18,775
Heron Therapeutics, Inc.(a)
  
2,116
    
   5,861
Hims & Hers Health, Inc.(a)
  
1,019
    
   15,764
Immunovant, Inc.(a)
  
406
    
   13,118
Innoviva, Inc.(a)
  
1,081
    
   16,474
Intellia Therapeutics, Inc.(a)
  
566
    
   15,571
Intra-Cellular Therapies, Inc.(a)
  
510
    
   35,292
iRadimed Corp.
  
237
    
   10,426
iRhythm Technologies, Inc.(a)
  
99
    
   11,484
Ironwood Pharmaceuticals, Inc.(a)
  
1,338
    
   11,654
Kiniksa Pharmaceuticals Ltd. - Class A(a)
  
7,677
    
   151,467
Krystal Biotech, Inc.(a)
  
388
    
   69,037
Kymera Therapeutics, Inc.(a)
  
81
    
   3,256
Lantheus Holdings, Inc.(a)
  
679
    
   42,261
LeMaitre Vascular, Inc.
  
6,506
    
   431,739
Medpace Holdings, Inc.(a)
  
1,214
    
   490,639
MeiraGTx Holdings PLC(a)
  
513
    
   3,114
Mesa Laboratories, Inc.
  
1,625
    
   178,311
Mirum Pharmaceuticals, Inc.(a)
  
179
    
   4,496
MoonLake Immunotherapeutics(a)
  
2,206
    
   110,807
Morphic Holding, Inc.(a)
  
123
    
   4,330
Neogen Corp.(a)
  
4,091
    
   64,556
NeoGenomics, Inc.(a)
  
835
    
   13,126
Nurix Therapeutics, Inc.(a)
  
365
    
   5,366
Option Care Health, Inc.(a)
  
8,980
    
   301,189
OrthoPediatrics Corp.(a)
  
6,087
    
   177,497
Outset Medical, Inc.(a)
  
695
    
   1,543
Pacific Biosciences of California, Inc.(a)
  
611
    
   2,291
Pacira BioSciences, Inc.(a)
  
518
    
   15,136
PetIQ, Inc.(a)
  
228
    
   4,168
Phibro Animal Health Corp. - Class A
  
154
    
   1,991
Phreesia, Inc.(a)
  
322
    
   7,705
Pliant Therapeutics, Inc.(a)
  
4,894
    
   72,921
Privia Health Group, Inc.(a)
  
784
    
   15,359
Progyny, Inc.(a)
  
1,113
    
   42,461
Protagonist Therapeutics, Inc.(a)
  
879
    
   25,429
Prothena Corp. PLC(a)
  
2,048
    
   50,729
PTC Therapeutics, Inc.(a)
  
295
    
   8,582
Quanterix Corp.(a)
  
7,293
    
   171,823
RadNet, Inc.(a)
  
236
    
   11,484
RAPT Therapeutics, Inc.(a)
  
355
    
   3,188
Relay Therapeutics, Inc.(a)
  
194
    
   1,610
Repligen Corp.(a)
  
1,585
    
   291,513
Revance Therapeutics, Inc.(a)
  
505
    
   2,485
REVOLUTION Medicines, Inc.(a)
  
374
    
   12,054
Rhythm Pharmaceuticals, Inc.(a)
  
21
    
   910
Rigel Pharmaceuticals, Inc.(a)
  
6,016
    
   8,904
Rocket Pharmaceuticals, Inc.(a)
  
545
    
   14,682
Sage Therapeutics, Inc.(a)
  
456
    
   8,545
Schrodinger, Inc.(a)
  
450
    
   12,150
Select Medical Holdings Corp.
  
54
    
   1,628
SI-BONE, Inc.(a)
  
10,703
    
   175,208
Simulations Plus, Inc.
  
6,135
    
   252,455
SpringWorks Therapeutics, Inc.(a)
  
457
    
   22,494
STAAR Surgical Co.(a)
  
65
    
   2,488
Stoke Therapeutics, Inc.(a)(b)
  
10,247
    
   138,335
Surgery Partners, Inc.(a)
  
635
    
   18,942
Syndax Pharmaceuticals, Inc.(a)
  
3,608
    
   85,870
TG Therapeutics, Inc.(a)
  
1,881
    
   28,610
The Ensign Group, Inc.
  
402
    
   50,017
The Joint Corp.(a)
  
333
    
   4,349
TransMedics Group, Inc.(a)
  
309
    
   22,847
Utah Medical Products, Inc.
  
75
    
   5,333
Veracyte, Inc.(a)
  
3,958
    
   87,709
Vericel Corp.(a)
  
4,178
    
   217,340
Viking Therapeutics, Inc.(a)
  
478
    
   39,196
Vir Biotechnology, Inc.(a)
  
198
    
   2,006
Xencor, Inc.(a)
  
638
    
   14,119
Xenon Pharmaceuticals, Inc.(a)
  
2,786
    
   119,937
Zentalis Pharmaceuticals, Inc.(a)
  
579
    
   9,125
Zymeworks, Inc.(a)
  
6,297
    
   66,244
         
   6,894,722
             
Industrials - 18.5%
    
AAON, Inc.
  
484
    
   42,640
ACV Auctions, Inc. - Class A(a)
  
1,604
    
   30,107
AeroVironment, Inc.(a)
  
87
    
   13,335
AerSale Corp.(a)
  
14,760
    
   105,977
Alamo Group, Inc.
  
179
    
   40,871
Allegiant Travel Co.
  
14
    
   1,053
Alta Equipment Group, Inc.
  
14,079
    
   182,323
American Woodmark Corp.(a)
  
119
    
   12,098
Apogee Enterprises, Inc.
  
498
    
   29,482
Applied Industrial Technologies, Inc.
  
607
    
   119,913
Aris Water Solutions, Inc. - Class A
  
12,673
    
   179,323
Array Technologies, Inc.(a)
  
1,341
    
   19,994
Atkore, Inc.
  
544
    
   103,556
Barrett Business Services, Inc.
  
252
    
   31,933
Beacon Roofing Supply, Inc.(a)
  
701
    
   68,712
Bloom Energy Corp. - Class A(a)(b)
  
196
    
   2,203
Casella Waste Systems, Inc. - Class A(a)
  
3,550
    
   350,989
Chart Industries, Inc.(a)
  
123
    
   20,261
Cimpress PLC(a)
  
87
    
   7,700
Columbus McKinnon Corp.
  
5,226
    
   233,236
Comfort Systems USA, Inc.
  
473
    
   150,277
Construction Partners, Inc. - Class A(a)
  
448
    
   25,155
CSW Industrials, Inc.
  
31
    
   7,273
Dycom Industries, Inc.(a)
  
202
    
   28,993
EMCOR Group, Inc.
  
117
    
   40,973
Enerpac Tool Group Corp.
  
521
    
   18,579
ESCO Technologies, Inc.
  
65
    
   6,958
ExlService Holdings, Inc.(a)
  
2,495
    
   79,341
Federal Signal Corp.
  
2,613
    
   221,765
Fluor Corp.(a)
  
922
    
   38,982
FuelCell Energy, Inc.(a)(b)
  
1,752
    
   2,085
GMS, Inc.(a)
  
522
    
   50,811
Granite Construction, Inc.
  
273
    
   15,596
Healthcare Services Group, Inc.(a)
  
967
    
   12,068
Huron Consulting Group, Inc.(a)
  
408
    
   39,421
Janus International Group, Inc.(a)
  
2,881
    
   43,590
John Bean Technologies Corp.
  
31
    
   3,252
Kadant, Inc.
  
6
    
   1,969
Karat Packaging, Inc.
  
515
    
   14,734
Limbach Holdings, Inc.(a)
  
170
    
   7,041
Masonite International Corp.(a)
  
114
    
   14,985
Maximus, Inc.
  
61
    
   5,118
Mayville Engineering Co., Inc.(a)
  
10,817
    
   155,008
McGrath RentCorp
  
264
    
   32,570
Montrose Environmental Group, Inc.(a)
  
103
    
   4,035
MSA Safety, Inc.
  
477
    
   92,342
Mueller Industries, Inc.
  
374
    
   20,170
Mueller Water Products, Inc. - Class A
  
4,715
    
   75,864
MYR Group, Inc.(a)
  
169
    
   29,871
Parsons Corp.(a)
  
202
    
   16,756
Primoris Services Corp.
  
71
    
   3,022
Saia, Inc.(a)
  
570
    
   333,450
Shoals Technologies Group, Inc. - Class A(a)
  
256
    
   2,862
Simpson Manufacturing Co., Inc.
  
549
    
   112,644
SiteOne Landscape Supply, Inc.(a)
  
1,735
    
   302,844
Sterling Infrastructure, Inc.(a)
  
400
    
   44,124
Sun Country Airlines Holdings, Inc.(a)
  
1,027
    
   15,497
Tennant Co.
  
121
    
   14,715
Terex Corp.
  
912
    
   58,733
Tetra Tech, Inc.
  
74
    
   13,669
The AZEK Co., Inc.(a)
  
7,122
    
   357,666
The Brink's Co.
  
135
    
   12,471
TPI Composites, Inc.(a)
  
1,739
    
   5,060
TriNet Group, Inc.
  
482
    
   63,860
Trinity Industries, Inc.
  
962
    
   26,792
UFP Industries, Inc.
  
354
    
   43,546
Upwork, Inc.(a)
  
3,175
    
   38,926
Viad Corp.(a)
  
1,807
    
   71,358
Vicor Corp.(a)
  
89
    
   3,403
Wabash National Corp.
  
567
    
   16,976
Watts Water Technologies, Inc. - Class A
  
111
    
   23,593
WillScot Mobile Mini Holdings Corp.(a)
  
3,919
    
   182,234
WNS Holdings Ltd.(a)
  
5,521
    
   278,977
Zurn Elkay Water Solutions Corp.
  
589
    
   19,714
         
   4,897,424
             
Information Technology - 19.5%
    
8x8, Inc.(a)
  
1,000
    
   2,700
908 Devices, Inc.(a)
  
10,284
    
   77,644
ACI Worldwide, Inc.(a)
  
910
    
   30,221
ACM Research, Inc. - Class A(a)
  
853
    
   24,856
Advanced Energy Industries, Inc.
  
54
    
   5,507
Agilysys, Inc.(a)
  
364
    
   30,671
Alarm.com Holdings, Inc.(a)
  
452
    
   32,756
Altair Engineering, Inc. - Class A(a)
  
107
    
   9,218
Amplitude, Inc. - Class A(a)
  
771
    
   8,388
Appfolio, Inc. - Class A(a)
  
1,263
    
   311,633
Appian Corp. - Class A(a)
  
967
    
   38,632
Arlo Technologies, Inc.(a)
  
661
    
   8,362
Arteris, Inc.(a)
  
17,885
    
   130,918
Asana, Inc. - Class A(a)(b)
  
480
    
   7,435
Axcelis Technologies, Inc.(a)
  
564
    
   62,897
Badger Meter, Inc.
  
414
    
   66,989
Bel Fuse, Inc. - Class B
  
2,648
    
   159,701
BlackLine, Inc.(a)
  
774
    
   49,985
C3.ai, Inc. - Class A(a)(b)
  
606
    
   16,404
CEVA, Inc.(a)
  
6,848
    
   155,518
CommVault Systems, Inc.(a)
  
413
    
   41,891
DigitalOcean Holdings, Inc.(a)
  
1,382
    
   52,765
DoubleVerify Holdings, Inc.(a)
  
7,325
    
   257,547
Endava PLC - ADR(a)
  
2,128
    
   80,949
ePlus, Inc.(a)
  
74
    
   5,812
Everbridge, Inc.(a)
  
149
    
   5,190
Fabrinet(a)
  
346
    
   65,401
FARO Technologies, Inc.(a)
  
2,771
    
   59,604
Fastly, Inc. - Class A(a)
  
675
    
   8,755
Guidewire Software, Inc.(a)
  
2,425
    
   283,022
indie Semiconductor, Inc. - Class A(a)
  
12,156
    
   86,064
Infinera Corp.(a)
  
895
    
   5,397
Insight Enterprises, Inc.(a)
  
91
    
   16,882
InterDigital, Inc.
  
628
    
   66,857
Itron, Inc.(a)
  
383
    
   35,435
Lattice Semiconductor Corp.(a)
  
39
    
   3,051
LivePerson, Inc.(a)(b)
  
1,912
    
   1,907
Model N, Inc.(a)
  
4,916
    
   139,959
N-able, Inc.(a)
  
1,076
    
   14,063
Napco Security Technologies, Inc.
  
908
    
   36,465
OneSpan, Inc.(a)
  
1,551
    
   18,038
Onto Innovation, Inc.(a)
  
72
    
   13,038
OSI Systems, Inc.(a)
  
63
    
   8,998
PagerDuty, Inc.(a)
  
415
    
   9,412
PDF Solutions, Inc.(a)
  
7,644
    
   257,373
Pegasystems, Inc.
  
5,040
    
   325,786
Photronics, Inc.(a)
  
623
    
   17,643
PROS Holdings, Inc.(a)
  
5,083
    
   184,665
Q2 Holdings, Inc.(a)
  
413
    
   21,707
Qualys, Inc.(a)
  
2,385
    
   397,986
Radware Ltd.(a)
  
3,829
    
   71,679
Rambus, Inc.(a)
  
541
    
   33,439
Rapid7, Inc.(a)
  
984
    
   48,255
Sapiens International Corp. NV
  
1,229
    
   39,525
Silicon Laboratories, Inc.(a)
  
890
    
   127,911
SMART Global Holdings, Inc.(a)
  
1,107
    
   29,136
SoundThinking, Inc.(a)
  
3,097
    
   49,180
Sprout Social, Inc. - Class A(a)
  
545
    
   32,542
SPS Commerce, Inc.(a)
  
322
    
   59,538
Super Micro Computer, Inc.(a)
  
306
    
   309,069
Tenable Holdings, Inc.(a)
  
1,406
    
   69,499
The Hackett Group, Inc.
  
1,132
    
   27,508
Varonis Systems, Inc.(a)
  
218
    
   10,283
Veeco Instruments, Inc.(a)
  
5,605
    
   197,128
Verint Systems, Inc.(a)
  
435
    
   14,420
Workiva, Inc.(a)
  
3,031
    
   257,029
Yext, Inc.(a)
  
2,425
    
   14,623
Zuora, Inc. - Class A(a)
  
2,242
    
   20,447
         
   5,163,308
             
Materials - 2.1%
    
Arcadium Lithium PLC(a)
  
4,417
    
   19,038
Century Aluminum Co.(a)
  
904
    
   13,913
Commercial Metals Co.
  
359
    
   21,098
Constellium SE(a)
  
448
    
   9,905
Ferroglobe Representation & Warranty Insurance Trust(a)(d)
  
840
    
   0
Hawkins, Inc.
  
447
    
   34,330
Ingevity Corp.(a)
  
77
    
   3,673
Innospec, Inc.
  
39
    
   5,029
Materion Corp.
  
1,722
    
   226,873
Myers Industries, Inc.
  
582
    
   13,485
Quaker Chemical Corp.
  
859
    
   176,309
Ryerson Holding Corp.
  
244
    
   8,174
Sylvamo Corp.
  
362
    
   22,350
         
   554,177
             
Real Estate - 0.3%
    
DigitalBridge Group, Inc.
  
3,259
    
   62,801
Redfin Corp.(a)
  
2,215
    
   14,730
RMR Group, Inc. - Class A
  
448
    
   10,752
         
   88,283
             
Utilities - 0.3%
    
Brookfield Infrastructure Corp. - Class A
  
561
    
   20,218
Otter Tail Corp.
  
513
    
   44,323
         
   64,541
TOTAL COMMON STOCKS (Cost $19,488,402)
    
   25,906,154
             
REAL ESTATE INVESTMENT TRUSTS - 0.3%
  
Shares
    
Value
Alexander's, Inc.
  
68
    
   14,766
Essential Properties Realty Trust, Inc.
  
709
    
   18,901
Hannon Armstrong Sustainable Infrastructure Capital, Inc.
  
454
    
   12,894
Outfront Media, Inc.
  
1,658
    
   27,837
Ryman Hospitality Properties, Inc.
  
54
    
   6,243
UMH Properties, Inc.
  
169
    
   2,745
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $72,454)
    
   83,386
             
TOTAL INVESTMENTS - 98.2% (Cost $19,560,856)
   $
 25,989,540
Money Market Deposit Account - 1.8%(e)(f)
    
473,110
Other Assets in Excess of Liabilities - 0.0%(f)
    
12,384
TOTAL NET ASSETS - 100.0%
    
 
   $
 26,475,034

Percentages are stated as a percent of net assets.
  
 
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

ADR - American Depositary Receipt
NV - Naamloze Vennootschap
PLC - Public Limited Company
REIT – Real Estate Investment Trust

(a)
Non-income producing security.
(b)
All or a portion of this security is on loan as of March 31, 2024. The total market value of these securities was $250,006 which represented 0.9% of net assets.
(c)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(d)
Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $0 or 0.0% of net assets as of March 31, 2024.
(e)
The U.S. Bank Money Market Deposit Account (the “MMDA”) is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and is subject to change daily. The rate as of March 31, 2024 was 5.28%.
(f)
Represents less than 0.05% of net assets.
SMALL COMPANY GROWTH PORTFOLIO
 
 
 
 
 
 
 
 
NOTES TO SCHEDULE OF INVESTMENTS
 
 
 
 
 
 
 
 
 
March 31, 2024 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1. Securities Valuation
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Securities listed or traded on U.S. exchanges, including options, futures, swaptions and swap contracts, are valued at the last sales price on the exchange where they are principally traded. In the absence of a current quotation, a security is valued at the mean between the last bid and asked prices on that exchange. Securities quoted on the National Association of Securities Dealers Automatic Quotation (NASDAQ) System, for which there have been sales, are valued at the NASDAQ official closing price. If there are no such sales, a security is valued at the mean between the last bid and ask prices. Securities traded over-the-counter (other than on NASDAQ) are valued at the last current sale price; and if there are no such sales, a security is valued at the mean between the last bid and ask prices. Debt securities are typically valued at an evaluated bid price by a third-party pricing agent employing methodologies that utilize actual market transactions, broker-supplied valuations, or other inputs designed to identify the market value for such securities. Third-party pricing agents often utilize proprietary models that are subjective and require the use of judgment and the application of various assumptions including, but not limited to, interest rates, prepayment speeds, and default rate assumptions. Debt securities that have a remaining maturity of 60 days or less are valued at prices supplied by the Portfolios’ pricing agent for such securities, if available. Otherwise such securities are valued at amortized cost if the Pricing Committee of Wilshire Advisors LLC (the “Adviser”) it approximates fair value. Equity securities primarily traded on a foreign exchange are typically valued daily at a price as provided by an independent pricing service, which is an estimate of the fair value price.
Foreign currency contracts, including forward contracts, are valued at the applicable translation rates as supplied by the third-party pricing vendor. In the event market quotations are not readily available, such securities are valued at fair value according to procedures adopted by the Board of Directors (the “Board”) or as determined in good faith by the Adviser’s Pricing Committee, whose members include at least two representatives of the Adviser, one of whom is an officer of the Company. The Adviser has been named the valuation designee to implement the daily pricing and fair valuation procedures of the Portfolios. Fair value is defined as the amount the owner of a security might reasonably expect to receive upon a current sale. Securities whose value does not reflect fair value because a significant valuation event has occurred may be valued at fair value by the Pricing Committee in accordance with the Company’s valuation procedures. Significant events may include, but are not limited to, the following: significant fluctuations in domestic markets, foreign markets or foreign currencies; occurrences not directly tied to the securities markets such as natural disasters, armed conflicts or significant governmental actions; and major announcements affecting a single issuer or an entire market or market sector. The value of fair valued securities may be different from the last sale price (or the mean between the last bid and asked prices), and there is no guarantee that a fair valued security will be sold at the price at which a Portfolio is carrying the security.
In accordance with the authoritative guidance on fair value measurements and disclosures under U.S. GAAP, the Portfolios disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The guidance establishes three levels of the fair value hierarchy as follows:

● Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Portfolios have the ability to access at the measurement date;
● Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, referenced indices, quoted prices in inactive markets, adjusted quoted prices in active markets, etc.); and
● Level 3 – Prices, inputs or exotic modeling techniques which are both significant to the fair value measurement and unobservable (supported by little or no market activity).
 
 
 
 
 
 
 
 
 
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. During the period ended March 31, 2024, there have been no significant changes to the Portfolio's fair value methodologies.
 
 
 
 
 
 
 
 
 
 
The following is a summary of the inputs used to value the Portfolio's investments as of March 31, 2024:
 
 
 
 
 

Small Company Growth Portfolio
  
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
  Common Stocks
    
25,906,154
      
–
      
0
(a) 
    
25,906,154
  
  Real Estate Investment Trusts
    
83,386
      
–
      
–
      
83,386
  
Total Assets
    
25,989,540
      
–
      
0
(a) 
    
25,989,540
  
                                 
   
Refer to the Schedule of Investments for industry classifications.
  

(a)
Amount is less than $0.50.

Refer to the Portfolio’s Schedule of Investments for a listing of the securities by industry or sector type. Small Company Growth Portfolio held a common stock that was measured at fair value on a recurring basis using significant unobservable inputs (Level 3) totaling $0 as of March 31, 2024. A reconciliation of Level 3 investments, including certain disclosures related to significant inputs used in valuing Level 3 investments, is only presented when a Portfolio has over 1% of Level 3 investments.