NPORT-EX 3 NPORT_EBZ5_70273944_0122.htm

Lord Abbett
Quarterly Portfolio Holdings Report

Lord Abbett

Alpha Strategy Fund

Durable Growth Fund

Focused Growth Fund

Focused Large Cap Value Fund

Focused Small Cap Value Fund

Fundamental Equity Fund

Global Equity Fund

Growth Leaders Fund

Health Care Fund

International Equity Fund

International Opportunities Fund

International Value Fund

Micro Cap Growth Fund

Value Opportunities Fund

For the period ended January 31, 2022

Schedule of Investments (unaudited)

ALPHA STRATEGY FUND January 31, 2022

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 99.92%

INVESTMENTS IN UNDERLYING FUNDS^(a)(b)99.92%
Lord Abbett Developing Growth Fund, Inc. - Class I^*(c)		5,287,132	$	149,572,957
Lord Abbett Securities Trust-Focused Small Cap Value Fund - Class I^*(d)		2,923,640		85,984,251
Lord Abbett Securities Trust - International Opportunities Fund - Class I^(d)		8,001,744		159,794,829
Lord Abbett Securities Trust - Micro-Cap Growth Fund - Class I^*(d)		3,621,409		67,865,209
Lord Abbett Research Fund, Inc. - Small Cap Value Fund - Class I^(d)		8,443,414		166,335,251
Lord Abbett Securities Trust-Value Opportunities Fund-Class I^(d)		7,871,956		163,343,101
Total Investments in Underlying Funds (cost $744,774,466)				792,895,598

Investments	Principal Amount		Fair Value
SHORT-TERM INVESTMENTS 0.09%

Repurchase Agreements 0.09%
Repurchase Agreement dated 1/31/2022, 0.00% due 2/1/2022 with Fixed Income Clearing Corp. collateralized by $621,200 of U.S. Treasury Inflation Indexed Note at 0.125% due 10/15/2024; value: $709,559; proceeds: $695,608 (cost $695,608)	$	695,608	$	695,608
Total Investments in Securities 100.01% (cost $745,470,074)				793,591,206
Other Assets and Liabilities – Net (0.01)%				(106,617	)
Net Assets 100.00%			$	793,484,589

*		Non-income producing security.
^(a)		Affiliated issuer.
^(b)		These investments offer daily redemptions.
^(c)		Fund investment objective is long-term growth of capital through a diversified and actively managed portfolio consisting of developing growth companies, many of which are traded over the counter.
^(d)		Fund investment objective is long-term capital appreciation.

The following is a summary of the inputs used as of January 31, 2022 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Investments in Underlying Funds	$	792,895,598	$	–	$	–	$	792,895,598
Short-Term Investments
Repurchase Agreements		–		695,608		–		695,608
Total	$	792,895,598	$	695,608	$	–	$	793,591,206

⁽¹⁾		Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each investment in Underlying Funds. When applicable each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

DURABLE GROWTH FUND January 31, 2022

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 99.52%

COMMON STOCKS 99.52%

Aerospace & Defense 2.16%
Airbus SE*^(a)	EUR	9,363	$	1,195,592
CAE, Inc. (Canada)*^(b)		54,079		1,365,495
TransDigm Group, Inc.*		3,518		2,167,756
Total				4,728,843

Air Freight & Logistics 0.77%
GXO Logistics, Inc.*		20,820		1,690,792

Automobiles 3.75%
Tesla, Inc.*		8,772		8,216,908

Banks 1.02%
First Republic Bank		12,912		2,241,394

Beverages 2.06%
Brown-Forman Corp. Class B		14,061		948,133
Coca-Cola Co. (The)		58,314		3,557,737
Total				4,505,870

Biotechnology 1.87%
BioNTech SE ADR*		3,600		619,488
Genmab A/S ADR*		35,453		1,208,238
Natera, Inc.*		15,521		1,096,559
Seagen, Inc.*		8,690		1,168,892
Total				4,093,177

Capital Markets 0.80%
Moody’s Corp.		5,116		1,754,788

Chemicals 0.99%
Air Products & Chemicals, Inc.		7,647		2,157,372

Construction Materials 1.21%
Vulcan Materials Co.		13,965		2,657,679

Containers & Packaging 1.80%
Avery Dennison Corp.		9,266		1,903,421
Ball Corp.		20,968		2,035,993
Total				3,939,414

Investments	Shares		Fair Value
Entertainment 2.37%
Netflix, Inc.*		6,910	$	2,951,537
Roku, Inc.*		6,296		1,032,859
Walt Disney Co. (The)*		8,444		1,207,239
Total				5,191,635

Equity Real Estate Investment Trusts 1.65%
SBA Communications Corp.		11,125		3,620,520

Food & Staples Retailing 1.60%
Sysco Corp.		23,805		1,860,361
Walmart, Inc.		11,664		1,630,744
Total				3,491,105

Health Care Equipment & Supplies 2.98%
Align Technology, Inc.*		5,031		2,490,144
DexCom, Inc.*		5,207		2,241,509
Intuitive Surgical, Inc.*		6,325		1,797,439
Total				6,529,092

Health Care Technology 0.50%
Veeva Systems, Inc. Class A*		4,595		1,086,901

Hotels, Restaurants & Leisure 2.12%
Airbnb, Inc. Class A*		6,348		977,402
Chipotle Mexican Grill, Inc.*		1,416		2,103,581
Hilton Worldwide Holdings, Inc.*		10,730		1,557,030
Total				4,638,013

Industrial Conglomerates 1.42%
Honeywell International, Inc.		7,930		1,621,526
Roper Technologies, Inc.		3,375		1,475,415
Total				3,096,941

Information Technology Services 5.45%
Fidelity National Information Services, Inc.		15,358		1,841,731
Genpact Ltd.		37,396		1,860,451
Mastercard, Inc. Class A		13,734		5,306,543
PayPal Holdings, Inc.*		9,524		1,637,557
Twilio, Inc. Class A*		6,240		1,286,189
Total				11,932,471

2	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

DURABLE GROWTH FUND January 31, 2022

Investments	Shares		Fair Value
Interactive Media & Services 12.20%
Alphabet, Inc. Class A*		6,034	$	16,328,426
Match Group, Inc.*		15,206		1,713,716
Meta Platforms, Inc. Class A*		27,602		8,646,603
Total				26,688,745

Internet & Direct Marketing Retail 7.03%
Amazon.com, Inc.*		5,143		15,385,130

Life Sciences Tools & Services 2.98%
10X Genomics, Inc. Class A*		9,691		932,952
Danaher Corp.		6,939		1,983,097
Repligen Corp.*		8,424		1,670,816
West Pharmaceutical Services, Inc.		4,913		1,931,890
Total				6,518,755

Machinery 1.03%
Parker-Hannifin Corp.		2,070		641,721
Stanley Black & Decker, Inc.		9,250		1,615,512
Total				2,257,233

Personal Products 1.16%
Estee Lauder Cos., Inc. (The) Class A		8,163		2,545,142

Pharmaceuticals 3.00%
Eli Lilly & Co.		14,627		3,589,320
Zoetis, Inc.		14,860		2,968,879
Total				6,558,199

Road & Rail 2.30%
Norfolk Southern Corp.		7,289		1,982,535
Old Dominion Freight Line, Inc.		8,415		2,540,741
Uber Technologies, Inc.*		13,591		508,303
Total				5,031,579

Investments	Shares		Fair Value
Semiconductors & Semiconductor Equipment 8.23%
Analog Devices, Inc.		15,051	$	2,467,913
Lam Research Corp.		3,835		2,262,343
NVIDIA Corp.		35,415		8,671,717
NXP Semiconductors NV (Netherlands)^(b)		8,634		1,773,769
QUALCOMM, Inc.		16,153		2,839,051
Total				18,014,793

Software 15.51%
Cadence Design Systems, Inc.*		17,610		2,679,185
Datadog, Inc. Class A*		3,324		485,670
Microsoft Corp.		73,469		22,847,390
RingCentral, Inc. Class A*		2,642		466,286
salesforce.com, Inc.*		16,251		3,780,470
ServiceNow, Inc.*		6,269		3,672,255
Total				33,931,256

Specialty Retail 4.00%
Burlington Stores, Inc.*		9,683		2,294,193
Five Below, Inc.*		7,038		1,154,232
Home Depot, Inc. (The)		14,426		5,294,054
Total				8,742,479

Technology Hardware, Storage & Peripherals 5.64%
Apple, Inc.		70,611		12,341,391

Textiles, Apparel & Luxury Goods 1.92%
NIKE, Inc. Class B		28,434		4,210,222
Total Common Stocks (cost $216,492,594)				217,797,839

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(concluded)

DURABLE GROWTH FUND January 31, 2022

Investments	Principal Amount		Fair Value
SHORT-TERM INVESTMENTS 1.06%

Repurchase Agreements 1.06%
Repurchase Agreement dated 1/31/2022, 0.00% due 2/1/2022 with Fixed Income Clearing Corp. collateralized by $2,345,500 of U.S. Treasury Note at 1.5% due 09/30/2024; value: $2,367,650; proceeds: $2,321,203 (cost $2,321,203)	$	2,321,203	$	2,321,203
Total Investments in Securities 100.58% (cost $218,813,797)				220,119,042
Other Assets and Liabilities – Net (0.58)%				(1,275,999	)
Net Assets 100.00%			$	218,843,043

ADR		American Depositary Receipt.
EUR		Euro.
*		Non-income producing security.
^(a)		Investment in non-U.S. dollar denominated securities.
^(b)		Foreign security traded in U.S. dollars.

The following is a summary of the inputs used as of January 31, 2022 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks
Aerospace & Defense	$	3,533,251	$	1,195,592	$	–	$	4,728,843
Remaining Industries		213,068,996		–		–		213,068,996
Short-Term Investments
Repurchase Agreements		–		2,321,203		–		2,321,203
Total	$	216,602,247	$	3,516,795	$	–	$	220,119,042

⁽¹⁾		Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuer and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

4	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

FOCUSED GROWTH FUND January 31, 2022

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 97.78%

COMMON STOCKS 97.78%

Automobiles 6.79%
Tesla, Inc.*		3,334	$	3,123,024

Banks 4.78%
Signature Bank		3,050		929,121
SVB Financial Group*		2,171		1,267,647
Total				2,196,768

Biotechnology 2.71%
Intellia Therapeutics, Inc.*		5,414		512,002
Vertex Pharmaceuticals, Inc.*		3,016		733,039
Total				1,245,041

Chemicals 2.02%
Albemarle Corp.		4,213		929,978

Communications Equipment 2.59%
Arista Networks, Inc.*		9,582		1,191,138

Electronic Equipment, Instruments & Components 1.95%
Trimble, Inc.*		12,426		896,660

Entertainment 1.98%
Live Nation Entertainment, Inc.*		8,332		912,437

Food & Staples Retailing 2.99%
Costco Wholesale Corp.		2,717		1,372,438

Health Care Equipment & Supplies 4.10%
Edwards Lifesciences Corp.*		7,876		860,059
Intuitive Surgical, Inc.*		3,602		1,023,617
Total				1,883,676

Health Care Providers & Services 2.68%
UnitedHealth Group, Inc.		2,603		1,230,100

Information Technology Services 5.24%
EPAM Systems, Inc.*		1,377		655,645
Mastercard, Inc. Class A		4,533		1,751,460
Total				2,407,105

Investments	Shares		Fair Value
Interactive Media & Services 10.17%
Alphabet, Inc. Class A*		1,727	$	4,673,383

Internet & Direct Marketing Retail 3.04%
Amazon.com, Inc.*		467		1,397,017

Machinery 2.48%
Deere & Co.		3,025		1,138,610

Pharmaceuticals 1.42%
Pfizer, Inc.		12,433		655,095

Semiconductors & Semiconductor Equipment 12.94%
Advanced Micro Devices, Inc.*		11,823		1,350,778
Applied Materials, Inc.		7,503		1,036,764
NVIDIA Corp.		8,071		1,976,265
QUALCOMM, Inc.		9,030		1,587,113
Total				5,950,920

Software 19.23%
Atlassian Corp. plc Class A (Australia)*^(a)		3,756		1,218,221
Intuit, Inc.		1,982		1,100,466
Microsoft Corp.		15,189		4,723,475
Qualtrics International, Inc. Class A*		23,809		696,890
Trade Desk, Inc. (The) Class A*		10,423		724,815
Unity Software, Inc.*		3,605		379,066
Total				8,842,933

Technology Hardware, Storage & Peripherals 9.35%
Apple, Inc.		24,603		4,300,112

Textiles, Apparel & Luxury Goods 1.32%
Crocs, Inc.*		5,903		605,766
Total Common Stocks (cost $42,783,653)				44,952,201

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(concluded)

FOCUSED GROWTH FUND January 31, 2022

Investments	Principal Amount		Fair Value
SHORT-TERM INVESTMENTS 2.84%

Repurchase Agreements 2.84%
Repurchase Agreement dated 1/31/2022, 0.00% due 2/1/2022 with Fixed Income Clearing Corp. collateralized by $1,321,600 of U.S. Treasury Note at 1.50% due 09/30/2024; value: $1,334,081; proceeds: $1,307,860 (cost $1,307,860)	$	1,307,860	$	1,307,860
Total Investments in Securities 100.62% (cost $44,091,513)				46,260,061
Other Assets and Liabilities – Net (0.62)%				(285,912	)
Net Assets 100.00%			$	45,974,149

*		Non-income producing security.
^(a)		Foreign security traded in U.S. dollars.

The following is a summary of the inputs used as of January 31, 2022 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks	$	44,952,201	$	–	$	–	$	44,952,201
Short-Term Investments
Repurchase Agreements		–		1,307,860		–		1,307,860
Total	$	44,952,201	$	1,307,860	$	–	$	46,260,061

⁽¹⁾		Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

6	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

FOCUSED LARGE CAP VALUE FUND January 31, 2022

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 99.31%

COMMON STOCKS 99.31%

Aerospace & Defense 6.68%
Lockheed Martin Corp.		57,990	$	22,565,649
Raytheon Technologies Corp.		319,280		28,795,863
Total				51,361,512

Automobiles 2.86%
General Motors Co.*		417,130		21,995,265

Banks 7.77%
First Citizens BancShares, Inc. Class A		36,140		28,155,951
Wells Fargo & Co.		587,330		31,598,354
Total				59,754,305

Biotechnology 3.67%
AbbVie, Inc.		206,350		28,247,251

Building Products 2.72%
Masco Corp.		330,460		20,928,032

Capital Markets 7.75%
Ameriprise Financial, Inc.		103,060		31,362,189
KKR & Co., Inc.		397,070		28,255,501
Total				59,617,690

Chemicals 2.48%
Valvoline, Inc.		579,230		19,079,836

Communications Equipment 2.40%
Cisco Systems, Inc.		331,250		18,440,687

Construction Materials 2.32%
Eagle Materials, Inc.		122,430		17,856,416

Electric: Utilities 3.20%
NRG Energy, Inc.		615,720		24,585,700

Energy Equipment & Services 2.02%
Schlumberger NV		398,540		15,570,958

Investments	Shares		Fair Value
Food & Staples Retailing 2.96%
BJ’s Wholesale Club Holdings, Inc.*		370,570	$	22,778,938

Health Care Providers & Services 6.24%
Centene Corp.*		257,880		20,052,749
CVS Health Corp.		262,320		27,939,703
Total				47,992,452

Hotels, Restaurants & Leisure 2.84%
Caesars Entertainment, Inc.*		287,120		21,861,317

Household Products 2.26%
Spectrum Brands Holdings, Inc.		194,950		17,424,631

Information Technology Services 3.05%
Euronet Worldwide, Inc.*		174,970		23,426,733

Insurance 6.55%
Fidelity National Financial, Inc.		532,610		26,816,913
Hartford Financial Services Group, Inc. (The)		327,710		23,552,518
Total				50,369,431

Interactive Media & Services 3.59%
Alphabet, Inc. Class A*		10,200		27,601,914

Machinery 2.82%
Parker-Hannifin Corp.		69,890		21,666,599

Media 5.36%
Comcast Corp. Class A		430,790		21,535,192
Nexstar Media Group, Inc. Class A		118,910		19,665,336
Total				41,200,528

Oil, Gas & Consumable Fuels 6.50%
Marathon Petroleum Corp.		195,520		14,028,560
Pioneer Natural Resources Co.		100,440		21,985,312
Shell PLC		271,920		13,976,688
Total				49,990,560

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(concluded)

FOCUSED LARGE CAP VALUE FUND January 31, 2022

Investments	Shares		Fair Value
Pharmaceuticals 6.07%
Organon & Co.		738,160	$	23,554,686
Pfizer, Inc.		439,270		23,145,136
Total				46,699,822

Semiconductors & Semiconductor Equipment 2.40%
Micron Technology, Inc.		224,460		18,466,324

Specialty Retail 2.36%
Lowe’s Cos., Inc.		76,360		18,124,046

Trading Companies & Distributors 2.44%
AerCap Holdings NV (Ireland)*^(a)		297,640		18,751,320
Total Common Stocks (cost $671,055,552)				763,792,267

Investments	Principal Amount		Fair Value
SHORT-TERM INVESTMENTS 0.95%

Repurchase Agreements
Repurchase Agreement dated 1/31/2022, 0.00% due 2/1/2022 with Fixed Income Clearing Corp. collateralized by $7,370,000 of U.S. Treasury Note at 1.5% due 9/30/2024; value: $7,439,600; proceeds: $7,293,668 (cost $7,293,668)	$	7,293,668	$	7,293,668
Total Investments in Securities 100.26% (cost $678,349,220)				771,085,935
Other Assets and Liabilities – Net (0.26)%				(1,977,135	)
Net Assets 100.00%			$	769,108,800

*		Non-income producing security.
^(a)		Foreign security traded in U.S. dollars.

The following is a summary of the inputs used as of January 31, 2022 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks	$	763,792,267	$	–	$	–	$	763,792,267
Short-Term Investments
Repurchase Agreements		–		7,293,668		–		7,293,668
Total	$	763,792,267	$	7,293,668	$	–	$	771,085,935

⁽¹⁾		Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

8	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

FOCUSED SMALL CAP VALUE FUND January 31, 2022

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 97.71%

COMMON STOCKS 97.71%

Airlines 1.61%
Hawaiian Holdings, Inc.*		193,859	$	3,314,989

Auto Components 1.96%
American Axle & Manufacturing Holdings, Inc.*		494,659		4,026,524

Banks 13.03%
Bancorp, Inc. (The)*		187,987		5,605,772
Customers Bancorp, Inc.*		113,092		6,593,264
First BanCorp		392,855		5,716,040
Metropolitan Bank Holding Corp.*		57,927		5,792,700
Western Alliance Bancorp		30,873		3,062,293
Total				26,770,069

Building Products 2.57%
Masonite International Corp.*		53,144		5,274,011

Capital Markets 9.06%
Bridge Investment Group Holdings, Inc. Class A		204,578		4,398,427
CI Financial Corp.^(a)	CAD	220,700		4,095,750
Evercore, Inc. Class A		33,520		4,183,967
Victory Capital Holdings, Inc. Class A		181,669		5,935,126
Total				18,613,270

Commercial Services & Supplies 2.21%
SP Plus Corp.*		160,918		4,534,669

Construction Materials 3.22%
Eagle Materials, Inc.		45,341		6,612,985

Consumer Finance 1.17%
Atlanticus Holdings Corp.*		37,320		2,400,049

Containers & Packaging 2.00%
Pactiv Evergreen, Inc.		375,500		4,111,725

Investments	Shares		Fair Value
Electrical Equipment 2.45%
GrafTech International Ltd.		480,236	$	5,032,873

Energy Equipment & Services 3.07%
Valaris Ltd.*		152,151		6,312,745

Entertainment 2.32%
Marcus Corp. (The)*^(b)		282,969		4,768,028

Equity Real Estate Investment Trusts 4.54%
Outfront Media, Inc.		151,967		3,774,860
Sunstone Hotel Investors, Inc.*		489,872		5,540,453
Total				9,315,313

Health Care Providers & Services 2.47%
Tenet Healthcare Corp.*		68,382		5,068,474

Household Products 2.02%
Spectrum Brands Holdings, Inc.		46,362		4,143,836

Information Technology Services 4.54%
Alliance Data Systems Corp.		46,157		3,186,679
International Money Express, Inc.*		383,077		6,133,063
Total				9,319,742

Insurance 5.84%
American Equity Investment Life Holding Co.		152,473		6,272,739
Stewart Information Services Corp.		80,225		5,730,472
Total				12,003,211

Interactive Media & Services 2.67%
Cars.com, Inc.*		351,457		5,475,700

Machinery 2.42%
Columbus McKinnon Corp.		114,666		4,962,744

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

FOCUSED SMALL CAP VALUE FUND January 31, 2022

Investments	Shares		Fair Value
Oil, Gas & Consumable Fuels 6.72%
Chesapeake Energy Corp.		89,579	$	6,106,600
MEG Energy Corp.*^(a)	CAD	646,300		7,697,740
Total				13,804,340

Pharmaceuticals 3.22%
Organon & Co.		207,317		6,615,485

Professional Services 3.12%
TrueBlue, Inc.*		240,800		6,405,280

Real Estate Management & Development 1.56%
Realogy Holdings Corp.*		193,975		3,200,588

Semiconductors & Semiconductor Equipment 3.31%
Silicon Motion Technology Corp.	ADR	86,102		6,802,058

Specialty Retail 4.35%
JOANN, Inc.^(b)		376,530		4,025,105
Sally Beauty Holdings, Inc.*		285,869		4,908,371
Total				8,933,476

Technology Hardware, Storage & Peripherals 1.68%
Diebold Nixdorf, Inc.*		368,384		3,440,707

Thrifts & Mortgage Finance 2.57%
Axos Financial, Inc.*		102,316		5,269,274

Tobacco 2.01%
Turning Point Brands, Inc.		117,471		4,138,503
Total Common Stocks (cost $178,924,944)				200,670,668

Investments	Principal Amount		Fair Value
SHORT-TERM INVESTMENTS 3.27%

Repurchase Agreements 1.50%
Repurchase Agreement dated 1/31/2022, 0.00% due 2/1/2022 with Fixed Income Clearing Corp. collateralized by $2,507, 000 of U.S. Treasury Inflation Indexed Note at 0.375% due 07/15/2025; value: $3,142,955; proceeds: $3,081,304 (cost $3,081,304)	$	3,081,304	$	3,081,304

		Shares

Money Market Funds 1.59%
Fidelity Government Portfolio^(c) (cost $3,263,727)		3,263,727		3,263,727

Time Deposits 0.18%
CitiBank N.A.^(c) (cost $362,637)		362,637		362,637
Total Short-Term Investments (cost $6,707,668)				6,707,668
Total Investments in Securities 100.98% (cost $185,632,612)				207,378,336
Other Assets and Liabilities – Net (0.98)%				(2,003,804	)
Net Assets 100.00%			$	205,374,532

ADR		American Depositary Receipt.
CAD		Canadian Dollar.
*		Non-income producing security.
^(a)		Investment in non-U.S. dollar denominated securities.
^(b)		All or a portion of this security is temporarily on loan to unaffiliated broker/dealers.
^(c)		Security was purchased with the cash collateral from loaned securities.

10	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(concluded)

FOCUSED SMALL CAP VALUE FUND January 31, 2022

The following is a summary of the inputs used as of January 31, 2022 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks	$	200,670,668	$	–	$	–	$	200,670,668
Short-Term Investments
Repurchase Agreements		–		3,081,304		–		3,081,304
Money Market Funds		3,263,727		–		–		3,263,727
Time Deposits		–		362,637		–		362,637
Total	$	203,934,395	$	3,443,941	$	–	$	207,378,336

⁽¹⁾		Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

FUNDAMENTAL EQUITY FUND January 31, 2022

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 99.53%

COMMON STOCKS 99.53%

Aerospace & Defense 4.12%
Lockheed Martin Corp.		97,920	$	38,103,609
Raytheon Technologies Corp.		470,810		42,462,354
Total				80,565,963

Automobiles 1.95%
General Motors Co.*		725,450		38,252,979

Banks 7.24%
East West Bancorp, Inc.		417,160		36,017,594
First Citizens BancShares, Inc. Class A		41,605		32,413,623
Wells Fargo & Co.		814,310		43,809,878
Western Alliance Bancorp		296,440		29,403,884
Total				141,644,979

Beverages 1.25%
PepsiCo, Inc.		140,580		24,393,442

Biotechnology 1.70%
AbbVie, Inc.		243,750		33,366,938

Building Products 3.05%
Carlisle Cos., Inc.		135,950		30,376,668
Masco Corp.		461,690		29,238,828
Total				59,615,496

Capital Markets 5.63%
Ameriprise Financial, Inc.		127,490		38,796,482
Blackstone Group, Inc. (The)		253,210		33,416,124
Morgan Stanley		371,100		38,052,594
Total				110,265,200

Chemicals 2.80%
PPG Industries, Inc.		155,230		24,246,926
Valvoline, Inc.		929,670		30,623,330
Total				54,870,256

Investments	Shares		Fair Value
Communications Equipment 1.66%
Cisco Systems, Inc.		582,850	$	32,447,260

Construction & Engineering 1.23%
EMCOR Group, Inc.		201,190		23,983,860

Consumer Finance 1.75%
American Express Co.		190,100		34,183,782

Containers & Packaging 0.96%
Avery Dennison Corp.		91,290		18,752,792

Diversified Financial Services 1.62%
Equitable Holdings, Inc.		942,530		31,706,709

Electric: Utilities 2.41%
NextEra Energy, Inc.		289,210		22,593,085
NRG Energy, Inc.		617,720		24,665,560
Total				47,258,645

Electronic Equipment, Instruments & Components 1.03%
Teledyne Technologies, Inc.*		47,930		20,199,140

Equity Real Estate Investment Trusts 3.18%
Alexandria Real Estate Equities, Inc.		95,880		18,681,259
Life Storage, Inc.		138,840		18,736,458
Prologis, Inc.		158,760		24,896,743
Total				62,314,460

Food & Staples Retailing 2.03%
BJ’s Wholesale Club Holdings, Inc.*		645,170		39,658,600

Health Care Equipment & Supplies 1.22%
Medtronic plc (Ireland)^(a)		230,770		23,882,387

Health Care Providers & Services 4.89%
McKesson Corp.		77,800		19,972,816
UnitedHealth Group, Inc.		160,490		75,842,759
Total				95,815,575

12	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

FUNDAMENTAL EQUITY FUND January 31, 2022

Investments	Shares		Fair Value
Hotels, Restaurants & Leisure 2.40%
Caesars Entertainment, Inc.*		368,160	$	28,031,702
Hilton Worldwide Holdings, Inc.*		130,180		18,890,420
Total				46,922,122

Household Products 3.04%
Procter & Gamble Co. (The)		371,090		59,541,390

Insurance 6.06%
American International Group, Inc.		509,780		29,439,795
Arch Capital Group Ltd.*		615,780		28,522,930
Arthur J Gallagher & Co.		191,340		30,220,239
Fidelity National Financial, Inc.		603,900		30,406,365
Total				118,589,329

Interactive Media & Services 3.11%
Alphabet, Inc. Class A*		22,510		60,913,636

Life Sciences Tools & Services 1.44%
Thermo Fisher Scientific, Inc.		48,610		28,256,993

Machinery 1.21%
Parker-Hannifin Corp.		76,430		23,694,064

Media 2.28%
Comcast Corp. Class A		892,800		44,631,072

Metals & Mining 0.89%
Reliance Steel & Aluminum Co.		114,100		17,443,608

Multi-Line Retail 1.23%
Target Corp.		109,640		24,167,945

Investments	Shares		Fair Value
Oil, Gas & Consumable Fuels 7.46%
Chesapeake Energy Corp.		461,790	$	31,480,224
Marathon Petroleum Corp.		375,600		26,949,300
Pioneer Natural Resources Co.		204,620		44,789,272
Shell PLC ADR		831,560		42,742,184
Total				145,960,980

Pharmaceuticals 5.48%
Eli Lilly & Co.		82,470		20,237,313
Organon & Co.		1,187,010		37,877,489
Pfizer, Inc.		934,230		49,224,579
Total				107,339,381

Road & Rail 1.43%
Norfolk Southern Corp.		103,140		28,053,049

Semiconductors & Semiconductor Equipment 4.92%
KLA Corp.		53,420		20,794,803
Micron Technology, Inc.		318,220		26,179,960
Taiwan Semiconductor Manufacturing Co. Ltd.	ADR	163,680		20,072,078
Texas Instruments, Inc.		162,960		29,249,691
Total				96,296,532

Software 1.94%
Microsoft Corp.		121,830		37,886,693

Specialty Retail 1.81%
Lowe’s Cos., Inc.		148,930		35,348,536

Technology Hardware, Storage & Peripherals 3.35%
Apple, Inc.		198,190		34,639,648
NetApp, Inc.		357,220		30,903,102
Total				65,542,750

Trading Companies & Distributors 1.76%
AerCap Holdings NV (Ireland)*^(a)		547,410		34,486,830

Total Common Stocks (cost $1,468,022,234)				1,948,253,373

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(concluded)

FUNDAMENTAL EQUITY FUND January 31, 2022

Investments	Principal Amount		Fair Value
SHORT-TERM INVESTMENTS 0.55%

Repurchase Agreements 0.55%
Repurchase Agreement dated 1/31/2022, 0.00% due 2/1/2022 with Fixed Income Clearing Corp. collateralized by $9,634,500 of U.S. Treasury Inflation Indexed Note at 0.125% due 04/15/2025; value: $10,937,401; proceeds: $10,722,934 (cost $10,722,934)	$	10,722,934	$	10,722,934
Total Investments in Securities 100.08% (cost $1,478,745,168)				1,958,976,307
Other Assets and Liabilities – Net (0.08)%				(1,540,500	)
Net Assets 100.00%			$	1,957,435,807

ADR		American Depositary Receipt.
*		Non-income producing security.
^(a)		Foreign security traded in U.S. dollars.

The following is a summary of the inputs used as of January 31, 2022 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks	$	1,948,253,373	$	–	$	–	$	1,948,253,373
Short-Term Investments
Repurchase Agreements		–		10,722,934		–		10,722,934
Total	$	1,948,253,373	$	10,722,934	$	–	$	1,958,976,307

⁽¹⁾		Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

14	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

GLOBAL EQUITY FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
LONG-TERM INVESTMENTS 97.16%

COMMON STOCKS 97.16%

Argentina 0.09%

Internet & Direct Marketing Retail
MercadoLibre, Inc.*		9	$	10,188

Australia 0.66%

Equity Real Estate Investment Trusts
Charter Hall Group		5,930		71,029

Austria 1.23%

Banks
BAWAG Group AG^†*		2,216		132,994

Canada 3.28%

Aerospace & Defense 0.31%
CAE, Inc.		1,344		33,940

Banks 2.02%
Royal Bank of Canada		1,913		218,110

Food & Staples Retailing 0.95%
Alimentation Couche-Tard, Inc.		2,553		102,972
Total Canada				355,022

China 2.05%

Construction Materials 0.79%
China Resources Cement Holdings Ltd.		99,917		86,101

Interactive Media & Services 0.85%
Tencent Holdings Ltd.		1,461		91,550

Internet & Direct Marketing Retail 0.41%
Alibaba Group Holding Ltd.*		2,707		42,428
JD.com, Inc. Class A*		61		2,312
				44,740
Total China				222,391

Investments	Shares		U.S. $ Fair Value
Denmark 0.84%

Biotechnology
Genmab A/S*		267	$	90,921

France 6.65%

Beverages 1.09%
Pernod Ricard SA		552		118,072

Insurance 1.71%
AXA SA		5,861		185,624

Life Sciences Tools & Services 0.74%
Sartorius Stedim Biotech		183		80,247

Media 0.48%
Criteo SA ADR*		1,527		51,613

Software 0.66%
Esker SA		266		71,933

Textiles, Apparel & Luxury Goods 1.97%
LVMH Moet Hennessy Louis Vuitton SE		259		212,737
Total France				720,226

Germany 0.68%

Semiconductors & Semiconductor Equipment
Infineon Technologies AG		1,767		73,379

Hong Kong 0.20%

Real Estate Management & Development
Kerry Properties Ltd.		7,499		21,184

India 2.20%

Banks 0.89%
ICICI Bank Ltd. ADR		4,402		95,656

Information Technology Services 1.31%
Infosys Ltd. ADR		6,030		142,127
Total India				237,783

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

GLOBAL EQUITY FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
Japan 6.13%

Auto Components 0.51%
Denso Corp.		736	$	54,930

Electrical Equipment 1.04%
Fuji Electric Co. Ltd.		2,110		112,772

Electronic Equipment, Instruments & Components 1.27%
Keyence Corp.		269		137,976

Household Durables 1.35%
Sony Group Corp.		1,307		146,212

Machinery 1.96%
Ebara Corp.		1,779		87,192
Fujitec Co. Ltd.		5,244		124,726
				211,918
Total Japan				663,808

Mexico 0.73%

Banks
Grupo Financiero Banorte SAB de CV Class O		12,525		79,383

Netherlands 5.37%

Information Technology Services 0.60%
Adyen NV^†*		32		65,117

Insurance 1.52%
NN Group NV		2,936		164,305

Oil, Gas & Consumable Fuels 1.96%
Shell plc		8,258		212,137

Semiconductors & Semiconductor Equipment 1.29%
ASML Holding NV		206		139,523
Total Netherlands				581,082

Investments	Shares		U.S. $ Fair Value
South Africa 1.12%

Metals & Mining
Anglo American plc		2,764	$	121,852

South Korea 1.49%

Technology Hardware, Storage & Peripherals
Samsung Electronics Co. Ltd.		2,602		161,842

Spain 1.23%

Electric: Utilities
Iberdrola SA		11,452		131,298
Iberdrola SA		191		2,178
				133,476

Sweden 0.59%

Electronic Equipment, Instruments & Components
Hexagon AB B Shares		4,724		63,718

Switzerland 2.89%

Capital Markets 2.03%
UBS Group AG		11,877		220,313

Life Sciences Tools & Services 0.86%
Lonza Group AG		135		93,075
Total Switzerland				313,388

Taiwan 1.81%

Semiconductors & Semiconductor Equipment
Taiwan Semiconductor Manufacturing Co. Ltd.		8,472		195,889

United Kingdom 2.24%

Equity Real Estate Investment Trusts 0.67%
UNITE Group plc (The)		5,174		72,391

Multi-Line Retail 1.04%
Next plc		1,104		112,482

16	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

GLOBAL EQUITY FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
United Kingdom (continued)

Pharmaceuticals 0.53%
AstraZeneca plc		492	$	57,233
Total United Kingdom				242,106

United States 55.68%
Aerospace & Defense 0.52%
TransDigm Group, Inc.*		91		56,073

Automobiles 0.47%
General Motors Co.*		965		50,885

Banks 1.33%
Western Alliance Bancorp		1,450		143,826

Beverages 0.90%
Coca-Cola Co. (The)		1,601		97,677

Biotechnology 0.93%
Vertex Pharmaceuticals, Inc.*		413		100,380

Building Products 1.09%
Carlisle Cos., Inc.		526		117,529

Capital Markets 4.76%
Ameriprise Financial, Inc.		526		160,067
Cboe Global Markets, Inc.		1,035		122,679
KKR & Co., Inc.		1,524		108,448
Morgan Stanley		1,208		123,868
				515,062
Chemicals 1.66%
Valvoline, Inc.		5,460		179,852

Consumer Finance 0.69%
American Express Co.		418		75,165

Containers & Packaging 0.39%
Avery Dennison Corp.		204		41,906

Diversified Financial Services 0.54%
Equitable Holdings, Inc.		1,743		58,635

Electrical Equipment 1.03%
AMETEK, Inc.		819		112,015

Investments	Shares		U.S. $ Fair Value
United States (continued)

Entertainment 0.59%
Live Nation Entertainment, Inc.*		579	$	63,406

Equity Real Estate Investment Trusts 1.50%
Alexandria Real Estate Equities, Inc.		410		79,884
Prologis, Inc.		528		82,801
				162,685

Food & Staples Retailing 2.15%
BJ’s Wholesale Club Holdings, Inc.*		1,565		96,201
Walmart, Inc.		974		136,175
				232,376

Health Care Equipment & Supplies 1.20%
Align Technology, Inc.*		106		52,466
DexCom, Inc.*		98		42,187
Intuitive Surgical, Inc.*		123		34,954
				129,607

Health Care Providers & Services 2.58%
UnitedHealth Group, Inc.		591		279,289

Hotels, Restaurants & Leisure 0.26%
Airbnb, Inc. Class A*		184		28,331

Interactive Media & Services 6.18%
Alphabet, Inc. Class A*		181		489,798
Meta Platforms, Inc. Class A*		572		179,185
				668,983

Internet & Direct Marketing Retail 2.57%
Amazon.com, Inc.*		93		278,207

Life Sciences Tools & Services 0.54%
Thermo Fisher Scientific, Inc.		101		58,711

Machinery 1.61%
Crane Co.		1,119		115,828
Fortive Corp.		828		58,407
				174,235

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

GLOBAL EQUITY FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
United States (continued)

Oil, Gas & Consumable Fuels 2.53%
Marathon Petroleum Corp.		2,067	$	148,307
Pioneer Natural Resources Co.		572		125,205
				273,512

Personal Products 1.38%
Estee Lauder Cos., Inc. (The) Class A		479		149,347

Pharmaceuticals 1.21%
Eli Lilly & Co.		534		131,038

Road & Rail 1.46%
Norfolk Southern Corp.		583		158,570

Semiconductors & Semiconductor Equipment 3.25%
Applied Materials, Inc.		648		89,540
NVIDIA Corp.		1,073		262,735
				352,275

Software 6.61%
Cadence Design Systems, Inc.*		290		44,121
Microsoft Corp.		1,945		604,856
salesforce.com, Inc.*		289		67,230
				716,207

Specialty Retail 1.06%
Burlington Stores, Inc.*		50		11,846
Lowe’s Cos., Inc.		434		103,010
				114,856

Technology Hardware, Storage & Peripherals 3.67%
Apple, Inc.		2,271		396,925

Textiles, Apparel & Luxury Goods 1.02%
NIKE, Inc. Class B		747		110,608
Total United States				6,028,173
Total Common Stocks (cost $9,371,271)				10,519,834

Investments	Principal Amount		U.S. $ Fair Value
SHORT-TERM INVESTMENTS 2.82%

Repurchase Agreements 2.82%
Repurchase Agreement dated 1/31/2022, 0.00% due 2/1/2022 with Fixed Income Clearing Corp. collateralized by $309,000 of U.S. Treasury Note at 1.5% due 09/30/2024; value: $311,918; proceeds: $305,745 (cost $305,745)	$	305,745	$	305,745
Total Investments in Securities 99.98% (cost $9,677,016)				10,825,579
Other Assets and Liabilities – Net 0.02%				1,771
Net Assets 100.00%			$	10,827,350

ADR		American Depositary Receipt.
*		Non-income producing security.
^†		Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At January 31, 2022, the total value of Rule 144A securities was $198,111, which represents 1.83% of net assets.

18	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(concluded)

GLOBAL EQUITY FUND January 31, 2022

The following is a summary of the inputs used as of January 31, 2022 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks
Australia	$	–	$	71,029	$	–	$	71,029
Austria		–		132,994		–		132,994
China		–		222,391		–		222,391
Denmark		–		90,921		–		90,921
France		51,613		668,613		–		720,226
Germany		–		73,379		–		73,379
Hong Kong		–		21,184		–		21,184
Japan		–		663,808		–		663,808
Netherlands		212,137		368,945		–		581,082
South Africa		–		121,852		–		121,852
South Korea		–		161,842		–		161,842
Spain		2,178		131,298		–		133,476
Sweden		–		63,718		–		63,718
Switzerland		–		313,388		–		313,388
Taiwan		–		195,889		–		195,889
United Kingdom		–		242,106		–		242,106
Remaining Countries		6,710,549		–		–		6,710,549
Short-Term Investments
Repurchase Agreements		–		305,745		–		305,745
Total	$	6,976,477	$	3,849,102	$	–	$	10,825,579

⁽¹⁾		Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuer and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

GROWTH LEADERS FUND January 31, 2022

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 98.19%

COMMON STOCKS 98.19%

Automobiles 5.57%
Tesla, Inc.*		483,838	$	453,220,731

Banks 2.49%
Signature Bank		261,150		79,554,124
SVB Financial Group*		210,864		123,123,490
Total				202,677,614

Biotechnology 2.10%
Intellia Therapeutics, Inc.*		719,567		68,049,451
Vertex Pharmaceuticals, Inc.*		424,804		103,248,612
Total				171,298,063

Capital Markets 3.11%
Blackstone Group, Inc. (The)		558,180		73,663,014
Charles Schwab Corp. (The)		1,047,654		91,879,256
MSCI, Inc.		164,090		87,971,931
Total				253,514,201

Chemicals 1.58%
Albemarle Corp.		582,779		128,642,636

Communications Equipment 1.89%
Arista Networks, Inc.*		1,235,176		153,544,729

Consumer Finance 1.49%
American Express Co.		675,821		121,526,132

Electronic Equipment, Instruments & Components 2.45%
Amphenol Corp. Class A		1,455,168		115,816,821
Trimble, Inc.*		1,161,480		83,812,397
Total				199,629,218

Investments	Shares		Fair Value
Entertainment 1.03%
Live Nation Entertainment, Inc.*		766,147	$	83,900,758

Food & Staples Retailing 2.07%
Costco Wholesale Corp.		334,073		168,750,295

Health Care Equipment & Supplies 3.30%
DexCom, Inc.*		98,616		42,452,216
Edwards Lifesciences Corp.*		1,031,713		112,663,060
Intuitive Surgical, Inc.*		398,642		113,286,083
Total				268,401,359

Health Care Providers & Services 1.39%
UnitedHealth Group, Inc.		239,985		113,409,711

Hotels, Restaurants & Leisure 0.52%
Airbnb, Inc. Class A*		274,044		42,194,555

Information Technology Services 6.06%
Accenture plc Class A (Ireland)^(a)		349,667		123,635,258
EPAM Systems, Inc.*		214,496		102,130,125
Mastercard, Inc.Class A		502,128		194,012,217
MongoDB, Inc.*		182,032		73,742,984
Total				493,520,584

Interactive Media & Services 8.99%
Alphabet, Inc. Class A*		270,591		732,238,187

Internet & Direct Marketing Retail 2.81%
Amazon.com, Inc.*		76,609		229,173,525

Life Sciences Tools & Services 3.22%

Agilent Technologies, Inc.		642,427		89,502,930
Danaher Corp.		298,720		85,371,189
Thermo Fisher Scientific, Inc.		150,014		87,203,138
Total				262,077,257

20	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

GROWTH LEADERS FUND January 31, 2022

Investments	Shares		Fair Value
Machinery 1.56%
Deere & Co.		336,550	$	126,677,420

Personal Products 0.97%
Estee Lauder Cos., Inc. (The) Class A		253,448		79,022,552

Pharmaceuticals 2.67%
Pfizer, Inc.		1,855,592		97,771,142
Zoetis, Inc.		598,802		119,634,652
Total				217,405,794

Semiconductors & Semiconductor Equipment 13.78%
Advanced Micro Devices, Inc.*		1,420,548		162,297,609
Analog Devices, Inc.		533,779		87,523,743
Applied Materials, Inc.		1,025,545		141,709,808
KLA Corp.		180,219		70,153,850
Monolithic Power Systems, Inc.		324,044		130,567,049
NVIDIA Corp.		1,440,232		352,655,207
QUALCOMM, Inc.		1,006,751		176,946,556
Total				1,121,853,822

Software 17.45%
Atlassian Corp. plc Class A (Australia)*^(a)		416,656		135,138,207
Datadog, Inc. Class A*		529,767		77,404,256
HubSpot, Inc.*		152,363		74,475,035
Intuit, Inc.		296,498		164,624,585
Microsoft Corp.		2,570,458		799,361,029
Qualtrics International, Inc. Class A*		2,416,319		70,725,657
Trade Desk, Inc. (The) Class A*		863,660		60,058,916
Unity Software, Inc.*		374,720		39,401,808
Total				1,421,189,493

Specialty Retail 1.54%
Home Depot, Inc. (The)		342,434		125,666,429

Investments	Shares		Fair Value
Technology Hardware, Storage & Peripherals 8.36%
Apple, Inc.		3,894,644	$	680,705,878

Textiles, Apparel & Luxury Goods 1.79%
Crocs, Inc.*		767,209		78,730,988
NIKE, Inc. Class B		454,289		67,266,572
Total				145,997,560
Total Common Stocks (cost $7,108,864,695)				7,996,238,503

	Principal Amount

SHORT-TERM INVESTMENTS 0.79%

Repurchase Agreements 0.79%
Repurchase Agreement dated 1/31/2022, 0.00% due 2/1/2022 with Fixed Income Clearing Corp. collateralized by $58,314,000 of U.S. Treasury Inflation Indexed Note at 0.125% due 04/15/2025; value: $66,199,968; proceeds: $64,901,826 (cost $64,901,826)	$	64,901,826	$	64,901,826
Total Investments in Securities 98.98% (cost $7,173,766,521)				8,061,140,329
Other Assets and Liabilities – Net 1.02%				82,682,307
Net Assets 100.00%			$	8,143,822,636

*		Non-income producing security.
^(a)		Foreign security traded in U.S. dollars.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(concluded)

GROWTH LEADERS FUND January 31, 2022

The following is a summary of the inputs used as of January 31, 2022 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks	$	7,996,238,503	$	–	$	–	$	7,996,238,503
Short-Term Investments
Repurchase Agreements		–		64,901,826		–		64,901,826
Total	$	7,996,238,503	$	64,901,826	$	–	$	8,061,140,329

⁽¹⁾		Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

22	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

HEALTH CARE FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
LONG-TERM INVESTMENTS 96.71%

COMMON STOCKS 96.71%

Belgium 0.50%

Pharmaceuticals
UCB SA		329	$	32,737

Canada 1.39%

Biotechnology
BELLUS Health, Inc.*		7,372		45,559
Xenon Pharmaceuticals, Inc.*		1,688		45,778
				91,337

Denmark 4.35%

Biotechnology 1.35%
Genmab A/S*		261		88,878

Pharmaceuticals 3.00%
Novo Nordisk A/S Class B		1,981		197,047
Total Denmark				285,925

France 2.30%

Life Sciences Tools & Services 0.75%
Sartorius Stedim Biotech		113		49,552

Pharmaceuticals 1.55%
Sanofi		973		101,739
Total France				151,291

Germany 0.97%

Pharmaceuticals
Merck KGaA		290		63,596

Netherlands 1.48%

Biotechnology
Argenx SE*		254		67,968
Merus NV*		1,200		29,532
				97,500

Investments	Shares		U.S. $ Fair Value
Switzerland 8.07%

Health Care Equipment & Supplies 1.22%
Alcon, Inc.		1,041	$	79,928

Life Sciences Tools & Services 1.58%
Lonza Group AG		151		104,106

Pharmaceuticals 5.27%
Roche Holding AG		894		345,977
Total Switzerland				530,011

United Kingdom 4.18%

Pharmaceuticals
AstraZeneca plc		2,363		274,883

United States 73.47%

Biotechnology 15.61%
Arena Pharmaceuticals, Inc.*		307		28,238
Biohaven Pharmaceutical Holding Co. Ltd.*		561		74,540
Blueprint Medicines Corp.*		393		30,300
Cytokinetics, Inc.*		1,534		50,914
Horizon Therapeutics plc*		936		87,357
Insmed, Inc.*		2,540		57,607
Intellia Therapeutics, Inc.*		496		46,907
Karuna Therapeutics, Inc.*		347		38,538
Krystal Biotech, Inc.*		1,235		72,865
Mirati Therapeutics, Inc.*		418		49,867
Natera, Inc.*		999		70,579
Neurocrine Biosciences, Inc.*		598		47,254
Rigel Pharmaceuticals, Inc.*		15,178		38,856
Rocket Pharmaceuticals, Inc.*		1,075		17,888
Sarepta Therapeutics, Inc.*		662		47,379
Seagen, Inc.*		381		51,248
SpringWorks Therapeutics, Inc.*		687		38,252
Turning Point Therapeutics, Inc.*		556		20,700
Ultragenyx Pharmaceutical, Inc.*		468		32,727
Vertex Pharmaceuticals, Inc.*		510		123,956
				1,025,972

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

HEALTH CARE FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
United States (continued)

Health Care Equipment & Supplies 18.52%
Abbott Laboratories		1,088	$	138,676
Align Technology, Inc.*		231		114,336
Axonics, Inc.*		581		27,557
Cooper Cos., Inc. (The)		219		87,228
CryoPort, Inc.*		588		24,561
DexCom, Inc.*		259		111,494
Edwards Lifesciences Corp.*		1,277		139,448
IDEXX Laboratories, Inc.*		171		86,748
Inari Medical, Inc.*		364		26,776
Insulet Corp.*		372		92,256
Intuitive Surgical, Inc.*		543		154,310
Outset Medical, Inc.*		1,018		37,859
Penumbra, Inc.*		145		32,771
Shockwave Medical, Inc.*		243		35,228
Silk Road Medical, Inc.*		712		23,361
Zimmer Biomet Holdings, Inc.		683		84,023
				1,216,632

Health Care Providers & Services 12.20%
AmerisourceBergen Corp.		645		87,849
Centene Corp.*		860		66,874
HCA Healthcare, Inc.		558		133,948
Humana, Inc.		173		67,902
Tenet Healthcare Corp.*		1,275		94,503
UnitedHealth Group, Inc.		742		350,647
				801,723

Health Care Technology 2.08%
Cerner Corp.		668		60,922
Doximity, Inc. Class A*		189		8,613
Inspire Medical Systems, Inc.*		302		66,829
				136,364

Investments	Shares		U.S. $ Fair Value
United States (continued)

Life Sciences Tools & Services 11.25%
10X Genomics, Inc. Class A*		470	$	45,247
Agilent Technologies, Inc.		453		63,112
Bio-Rad Laboratories, Inc. Class A*		67		40,182
Codexis, Inc.*		1,138		23,329
Danaher Corp.		747		213,485
Quanterix Corp.*		741		22,556
Repligen Corp.*		335		66,444
Thermo Fisher Scientific, Inc.		456		265,073
				739,428

Pharmaceuticals 11.97%
Catalent, Inc.*		716		74,414
Eli Lilly & Co.		1,072		263,058
Intra-Cellular Therapies, Inc.*		1,862		88,426
Merck & Co., Inc.		1,474		120,102
NGM Biopharmaceuticals, Inc.*		1,600		25,296
Organon & Co.		1,687		53,832
Zoetis, Inc.		809		161,630
				786,758

Semiconductors & Semiconductor Equipment 1.24%
Azenta, Inc.		962		81,135

Specialty Retail 0.60%
Petco Health & Wellness Co., Inc.*		2,105		39,469
Total United States				4,827,481
Total Common Stocks (cost $6,055,347)				6,354,761

24	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(concluded)

HEALTH CARE FUND January 31, 2022

Investments	Principal Amount		U.S. $ Fair Value
SHORT-TERM INVESTMENT 3.40%

Repurchase Agreements 3.40%
Repurchase Agreement dated 1/31/2022, 0.00% due 2/1/2022 with Fixed Income Clearing Corp. collateralized by $225,600 of U.S. Treasury Note at 1.50% due 09/30/2024; value: $227,730; proceeds: $223,200 (cost $223,200)	$	223,200	$	223,200
Total Investments in Securities 100.11% (cost $6,278,547)				6,577,961
Other Assets and Liabilities – Net (0.11)%				(7,004	)
Net Assets 100.00%			$	6,570,957

Non-income producing security.

The following is a summary of the inputs used as of January 31, 2022 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks
Belgium	$	–	$	32,737	$	–	$	32,737
Denmark		–		285,925		–		285,925
France		–		151,291		–		151,291
Germany		–		63,596		–		63,596
Netherlands		29,532		67,968		–		97,500
Switzerland		79,928		450,083		–		530,011
United Kingdom		–		274,883		–		274,883
Remaining Countries		4,918,818		–		–		4,918,818
Short-Term Investments
Repurchase Agreements		–		223,200		–		223,200
Total	$	5,028,278	$	1,549,683	$	–	$	6,577,961

⁽¹⁾		Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each industry. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

INTERNATIONAL EQUITY FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
LONG-TERM INVESTMENTS 97.03%

COMMON STOCKS 97.03%

Australia 3.28%

Capital Markets 1.04%
Macquarie Group Ltd.	30,487	$	3,985,002

Equity Real Estate Investment Trusts 0.66%
Goodman Group	151,740		2,505,489

Metals & Mining 1.58%
BHP Group Ltd.^(a)	188,626		6,049,340
Total Australia			12,539,831

Austria 2.75%

Banks 1.81%
BAWAG Group AG^†	55,755		3,346,145
Erste Group Bank AG	76,081		3,556,070
			6,902,215

Oil, Gas & Consumable Fuels 0.94%
OMV AG	58,857		3,602,306
Total Austria			10,504,521

Belgium 1.04%

Banks
KBC Group NV	45,747		3,978,587

Canada 2.82%

Aerospace & Defense 0.74%
CAE, Inc.*	111,917		2,826,209

Banks 1.26%
Royal Bank of Canada	42,200		4,811,427

Oil, Gas & Consumable Fuels 0.82%
Pembina Pipeline Corp.^(a)	98,619		3,131,230
Total Canada			10,768,866

Investments	Shares		U.S. $ Fair Value
China 3.74%

Construction Materials 0.51%
China Resources Cement Holdings Ltd.	2,246,000	$	1,935,440

Interactive Media & Services 1.65%
Tencent Holdings Ltd.	100,700		6,310,091

Internet & Direct Marketing Retail 1.05%
JD.com, Inc. Class A*	106,026		4,018,533

Textiles, Apparel & Luxury Goods 0.53%
ANTA Sports Products Ltd.	135,200		2,030,065
Total China			14,294,129

Denmark 4.14%

Air Freight & Logistics 0.98%
DSV PANALPINA A/S	18,360		3,730,397

Beverages 0.82%
Carlsberg A/S Class B	19,367		3,136,110

Biotechnology 0.66%
Genmab A/S*	7,444		2,534,901

Pharmaceuticals 1.68%
Novo Nordisk A/S Class B	64,564		6,422,068
Total Denmark			15,823,476

Finland 1.39%

Banks
Nordea Bank Abp	447,159		5,311,212

France 15.70%

Aerospace & Defense 1.30%
Airbus SE*	39,017		4,982,206

Auto Components 1.16%
Cie Generale des Etablissements Michelin SCA	26,396		4,416,679

26	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

INTERNATIONAL EQUITY FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
France (continued)

Beverages 1.05%
Pernod Ricard SA	18,852	$	4,032,430

Building Products 1.11%
Cie de Saint-Gobain	62,978		4,261,562

Chemicals 1.13%
Air Liquide SA	25,249		4,319,075

Construction & Engineering 0.69%
Vinci SA	23,991		2,629,570

Information Technology Services 0.86%
Capgemini SE	14,676		3,299,405

Insurance 0.98%
AXA SA	118,193		3,743,290

Life Sciences Tools & Services 0.52%
Sartorius Stedim Biotech	4,544		1,992,595

Multi-Utilities 1.03%
Veolia Environnement SA	108,478		3,918,743

Oil, Gas & Consumable Fuels 1.13%
Total SE	75,898		4,316,124

Personal Products 1.62%
L’Oreal SA	14,493		6,190,636

Textiles, Apparel & Luxury Goods 3.12%
Kering SA	5,109		3,815,221
LVMH Moet Hennessy Louis Vuitton SE	9,883		8,117,671
			11,932,892
Total France			60,035,207

Germany 4.68%

Air Freight & Logistics 1.41%
Deutsche Post AG Registered Shares	89,615		5,393,083

Investments	Shares		U.S. $ Fair Value
Germany (continued)

Auto Components 0.53%
Continental AG*	20,778	$	2,014,429

Automobiles 1.04%
Volkswagen AG	13,713		3,970,984

Chemicals 0.68%
Symrise AG	21,849		2,610,942

Semiconductors & Semiconductor Equipment 1.02%
Infineon Technologies AG	93,708		3,891,482
Total Germany			17,880,920

Hong Kong 2.21%

Insurance 1.40%
AIA Group Ltd.	511,882		5,343,951

Machinery 0.81%
Techtronic Industries Co.Ltd.	188,315		3,107,215
Total Hong Kong			8,451,166

India 3.48%

Banks 1.89%
ICICI Bank Ltd. ADR	197,965		4,301,779
State Bank of India	400,848		2,919,215
			7,220,994

Chemicals 0.49%
Asian Paints Ltd.	44,425		1,882,555

Information Technology Services 0.61%
Infosys Ltd. ADR	98,642		2,324,992

Oil, Gas & Consumable Fuels 0.49%
Reliance Industries Ltd.	57,794		1,862,537
Total India			13,291,078

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

INTERNATIONAL EQUITY FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
Indonesia 1.00%

Banks
Bank Rakyat Indonesia Persero Tbk PT	13,449,066	$	3,828,080

Ireland 1.17%

Construction Materials
CRH plc	88,995		4,492,585

Japan 16.42%

Auto Components 1.30%
Denso Corp.	66,485		4,962,020

Automobiles 1.87%
Toyota Motor Corp.	362,000		7,154,268

Banks 0.99%
Sumitomo Mitsui Financial Group, Inc.	105,000		3,782,200

Beverages 0.56%
Asahi Group Holdings Ltd.	52,825		2,156,354

Building Products 0.97%
Daikin Industries Ltd.	17,675		3,710,761

Diversified Financial Services 0.79%
ORIX Corp.	147,400		3,040,438

Electrical Equipment 0.88%
Fuji Electric Co. Ltd.	63,100		3,372,459

Electronic Equipment, Instruments & Components 1.53%
Keyence Corp.	8,660		4,441,908
Omron Corp.	19,100		1,396,391
			5,838,299

Health Care Equipment & Supplies 1.04%
Hoya Corp.	30,700		3,980,818

Investments	Shares		U.S. $ Fair Value
Japan (continued)

Household Durables 1.63%
Sony Group Corp.	55,700	$	6,231,073

Industrial Conglomerates 0.77%
Hitachi Ltd.	56,500		2,936,644

Insurance 0.82%
Tokio Marine Holdings, Inc.	52,300		3,120,932

Machinery 1.39%
Ebara Corp.	65,700		3,220,064
Fujitec Co. Ltd.	88,000		2,093,035
			5,313,099

Specialty Retail 0.58%
Fast Retailing Co. Ltd.	3,750		2,206,743

Trading Companies & Distributors 1.30%
ITOCHU Corp.	155,100		4,982,814
Total Japan			62,788,922

Mexico 1.33%

Banks 0.80%
Grupo Financiero Banorte SAB de CV Class O	480,917		3,048,046

Transportation Infrastructure 0.53%
Grupo Aeroportuario del Pacifico SAB de CV ADR	14,939		2,052,469
Total Mexico			5,100,515

Netherlands 5.44%

Food & Staples Retailing 0.48%
Koninklijke Ahold Delhaize NV	56,939		1,846,224

Information Technology Services 0.65%
Adyen NV^†*	1,214		2,470,366

28	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

INTERNATIONAL EQUITY FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
Netherlands (continued)

Insurance 1.25%
NN Group NV	85,021	$	4,757,956

Oil, Gas & Consumable Fuels 1.37%
Shell plc	204,265		5,247,305

Semiconductors & Semiconductor Equipment 1.69%
ASML Holding NV	9,544		6,464,098
Total Netherlands			20,785,949

Norway 1.15%

Oil, Gas & Consumable Fuels
Equinor ASA	159,079		4,385,461

Singapore 1.17%

Banks
United Overseas Bank Ltd.	200,200		4,474,201

South Africa 1.31%

Metals & Mining
Anglo American plc	113,674		5,011,373

South Korea 1.17%

Technology Hardware, Storage & Peripherals
Samsung Electronics Co. Ltd.	71,699		4,459,612

Spain 2.53%

Banks 0.97%
Banco Bilbao Vizcaya Argentaria SA	578,257		3,691,957

Diversified Telecommunication Services 0.47%
Cellnex Telecom SA^†	39,636		1,797,318

Electric: Utilities 1.09%
Iberdrola SA	363,953		4,172,743
Total Spain			9,662,018

Investments	Shares		U.S. $ Fair Value
Sweden 0.98%

Machinery
Atlas Copco AB A Shares	63,232	$	3,742,452

Switzerland 7.42%

Capital Markets 1.99%
Partners Group Holding AG	1,505		2,098,268
UBS Group AG Registered Shares	297,480		5,518,119
			7,616,387

Food Products 2.31%
Nestle SA Registered Shares	68,521		8,848,684

Life Sciences Tools & Services 1.33%
Lonza Group AG	7,347		5,065,329

Pharmaceuticals 1.79%
Roche Holding AG	17,652		6,831,309
Total Switzerland			28,361,709

Taiwan 2.22%

Semiconductors & Semiconductor Equipment
Taiwan Semiconductor Manufacturing Co. Ltd.
ADR	16,497		2,023,027
Taiwan Semiconductor Manufacturing Co. Ltd.	279,230		6,456,352
			8,479,379

United Kingdom 5.99%

Banks 0.99%
Barclays plc	1,415,896		3,798,591

Beverages 1.37%
Diageo plc	103,399		5,217,654

Electric: Utilities 0.84%
SSE plc	148,287		3,190,546

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

INTERNATIONAL EQUITY FUND January 31, 2022

Investments		Shares		U.S. $ Fair Value
United Kingdom (continued)

Equity Real Estate Investment Trusts 0.51%
UNITE Group plc (The)		139,990	$	1,958,634

Multi-Line Retail 0.69%
Next plc		25,965		2,645,461

Pharmaceuticals 1.59%
AstraZeneca plc		52,207		6,073,132
Total United Kingdom				22,884,018

United States 2.50%

Electrical Equipment 1.48%
Schneider Electric SE		33,293		5,639,678

Trading Companies & Distributors 1.02%
Ferguson plc		24,911		3,918,262
Total United States				9,557,940
Total Common Stocks (cost $301,299,759)				370,893,207

	Principal Amount

SHORT-TERM INVESTMENTS 4.87%

Repurchase Agreements 2.52%
Repurchase Agreement dated 1/31/2022, 0.00% due 2/1/2022 with Fixed Income Clearing Corp. collateralized by by $9,746,300 of U.S. Treasury Note at 1.50% due 9/30/2024; value: $9,838,341; proceeds: $9,645,425 (cost $9,645,425)	$	9,645,425		9,645,425

Investments	Shares		U.S. $ Fair Value
Money Market Funds 2.11%
Fidelity Government Portfolio^(b) (cost $8,068,536)	8,068,536	$	8,068,536

Time Deposits 0.24%
CitiBank N.A.^(b) (cost $896,504)	896,504		896,504
Total Short-Term Investments (cost $18,610,465)			18,610,465
Total Investments in Securities 101.90% (cost $319,910,224)			389,503,672
Other Assets and Liabilities – Net (1.90)%			(7,253,693	)
Net Assets 100.00%		$	382,249,979

ADR		American Depositary Receipt.
^†		Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At January 31, 2022, the total value of Rule 144A securities was $7,613.829, which represents 2.00% of net assets.
*		Non-income producing security.
^(a)		All or a portion of this security is temporarily on loan to unaffiliated broker/dealers.
^(b)		Security was purchased with the cash collateral from loaned securities.

30	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(concluded)

INTERNATIONAL EQUITY FUND January 31, 2022

The following is a summary of the inputs used as of January 31, 2022 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks
Canada	$	10,768,866	$	–	$	–	$	10,768,866
India		6,626,771		6,664,307		–		13,291,078
Mexico		5,100,515		–		–		5,100,515
Netherlands		5,247,305		15,538,644		–		20,785,949
Taiwan		2,023,027		6,456,352		–		8,479,379
Remaining Countries		–		312,467,420		–		312,467,420
Short-Term Investments
Repurchase Agreements		–		9,645,425		–		9,645,425
Money Market Funds		8,068,536		–		–		8,068,536
Time Deposits		–		896,504		–		896,504
Total	$	37,835,020	$	351,668,652	$	–	$	389,503,672

⁽¹⁾		Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuer and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

INTERNATIONAL OPPORTUNITIES FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
LONG-TERM INVESTMENTS 96.14%

COMMON STOCKS 96.14%

Australia 4.00%

Auto Components 1.43%
GUD Holdings Ltd.		693,884	$	6,070,403

Electric: Utilities 1.07%
AusNet Services		2,468,497		4,542,278

Food Products 0.49%
Costa Group Holdings Ltd.		1,040,843		2,058,768

Professional Services 1.01%
IPH Ltd.		733,522		4,256,266
Total Australia				16,927,715

Austria 5.06%

Banks 1.61%
BAWAG Group AG^†		113,395		6,805,420

Electronic Equipment, Instruments & Components 1.41%
AT&S Austria Technologie & Systemtechnik AG		128,247		5,973,258

Machinery 2.04%
ANDRITZ AG		162,054		8,621,849
Total Austria				21,400,527

Belgium 1.51%

Equity Real Estate Investment Trusts 1.01%
Cofinimmo SA		28,867		4,258,479

Real Estate Management & Development 0.50%
Shurgard Self Storage SA		36,587		2,108,991
Total Belgium				6,367,470

Investments	Shares		U.S. $ Fair Value
Canada 2.70%

Metals & Mining 1.30%
Capstone Mining Corp.*	1,297,400	$	5,521,720

Paper & Forest Products 1.40%
Interfor Corp.	198,300		5,909,298
Total Canada			11,431,018

China 1.50%

Food & Staples Retailing 0.38%
Yixintang Pharmaceutical Group Co. Ltd. Class A	332,911		1,583,335

Textiles, Apparel & Luxury Goods 1.12%
Xtep International Holdings Ltd.	2,639,500		4,740,482
Total China			6,323,817

Finland 0.84%

Machinery
Konecranes OYJ	87,781		3,530,954

France 1.48%

Construction Materials 1.03%
Vicat SA	104,455		4,328,644

Software 0.45%
Esker SA	7,067		1,911,095
Total France			6,239,739

Germany 10.25%

Aerospace & Defense 1.35%
Montana Aerospace AG^†*	152,962		5,717,172

Health Care Providers & Services 0.72%
Medios AG*	83,058		3,060,618

Industrial Conglomerates 1.66%
Rheinmetall AG	67,329		7,039,233

32	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

INTERNATIONAL OPPORTUNITIES FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
Germany (continued)

Life Sciences Tools & Services 1.26%
Gerresheimer AG		59,340	$	5,325,205

Media 1.02%
Stroeer SE & Co. KGaA		57,672		4,318,254

Real Estate Management & Development 2.64%
PATRIZIA AG		265,327		5,768,029
TAG Immobilien AG		203,849		5,383,310
				11,151,339

Semiconductors & Semiconductor Equipment 0.87%
Aixtron SE		175,964		3,658,809

Specialty Retail 0.73%
MYT Netherlands Parent BV ADR*^(a)		180,155		3,086,055
Total Germany				43,356,685

Hong Kong 1.82%

Hotels, Restaurants & Leisure 0.31%
Melco International Development Ltd.*		1,144,000		1,335,757

Real Estate Management & Development 0.80%
Kerry Properties Ltd.		1,197,500		3,382,775

Textiles, Apparel & Luxury Goods 0.71%
Stella International Holdings Ltd.		2,701,432		2,996,952
Total Hong Kong				7,715,484

Iceland 1.26%

Machinery
Marel HF		852,233		5,323,375

India 3.60%

Banks 1.65%
Federal Bank Ltd.		5,129,699		6,985,158

Investments	Shares		U.S. $ Fair Value
India (continued)

Capital Markets 1.42%
UTI Asset Management Co. Ltd.		496,931	$	6,001,295

Real Estate Management & Development 0.53%
Phoenix Mills Ltd. (The)		167,260		2,242,326
Total India				15,228,779

Israel 0.64%

Capital Markets
Tel Aviv Stock Exchange Ltd.		415,792		2,688,188

Italy 3.67%

Auto Components 1.15%
Brembo SpA		365,987		4,865,828

Construction Materials 0.60%
Buzzi Unicem SpA		121,880		2,544,984

Diversified Financial Services 1.14%
Banca Mediolanum SpA		494,389		4,805,908

Textiles, Apparel & Luxury Goods 0.78%
Salvatore Ferragamo SpA*		153,889		3,297,652
Total Italy				15,514,372

Japan 18.22%

Auto Components 0.37%
FCC Co. Ltd.		120,700		1,552,112

Banks 1.44%
Aozora Bank Ltd.		269,900		6,068,137

Beverages 0.76%
Coca-Cola Bottlers Japan Holdings, Inc.		274,900		3,224,676

Building Products 1.30%
Sanwa Holdings Corp.		505,900		5,478,424

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

INTERNATIONAL OPPORTUNITIES FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
Japan (continued)

Chemicals 0.96%
Kansai Paint Co. Ltd.		195,100	$	4,049,845

Construction & Engineering 1.40%
SHO-BOND Holdings Co. Ltd.		135,200		5,920,444

Distributors 1.10%
PALTAC Corp.		121,000		4,637,589

Information Technology Services 3.65%
NS Solutions Corp.		226,000		6,427,056
Simplex Holdings, Inc.		149,100		2,386,525
TIS, Inc.		164,800		4,334,349
Zuken, Inc.		89,100		2,304,822
				15,452,752

Machinery 4.10%
CKD Corp.		248,900		4,594,799
DMG Mori Co. Ltd.		255,000		4,046,288
Fujitec Co. Ltd.		202,200		4,809,222
OSG Corp.		221,600		3,901,327
				17,351,636

Professional Services 0.57%
TechnoPro Holdings, Inc.		93,700		2,397,047

Real Estate Management & Development 0.73%
CRE, Inc.		208,600		3,073,766

Software 0.51%
Money Forward, Inc.*		47,300		2,152,443

Thrifts & Mortgage Finance 0.25%
Aruhi Corp.		107,000		1,073,312

Wireless Telecommunication Services 1.08%
Okinawa Cellular Telephone Co.		105,300		4,587,606
Total Japan				77,019,789

Investments	Shares		U.S. $ Fair Value
Mexico 1.12%

Consumer Finance
Gentera SAB de CV*	6,623,700	$	4,749,104

Netherlands 0.98%

Leisure Products
Accell Group NV*	63,974		4,163,476

Norway 1.65%

Semiconductors & Semiconductor Equipment 0.84%
Nordic Semiconductor ASA*	119,670		3,545,812

Software 0.81%
Crayon Group Holding ASA^†*	178,215		3,444,862
Total Norway			6,990,674

Portugal 0.80%

Multi-Utilities
REN - Redes Energeticas Nacionais SGPS SA	1,179,272		3,362,352

South Korea 1.89%

Chemicals 1.07%
Soulbrain Co. Ltd./New	21,727		4,501,192

Semiconductors & Semiconductor Equipment 0.82%
WONIK IPS Co. Ltd.*	105,163		3,470,554
Total South Korea			7,971,746

Spain 3.43%

Banks 1.21%
Banco de Sabadell SA*	6,574,866		5,113,624

Containers & Packaging 1.30%
Vidrala SA	64,808		5,497,047

Professional Services 0.92%
Applus Services SA	441,455		3,878,351
Total Spain			14,489,022

34	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

INTERNATIONAL OPPORTUNITIES FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
Sweden 5.76%

Auto Components 1.34%
Dometic Group AB^†		511,095	$	5,661,562

Biotechnology 0.44%
Vitrolife AB		45,317		1,863,544

Commercial Services & Supplies 1.10%
Loomis AB		180,958		4,646,524

Food & Staples Retailing 1.14%
Axfood AB		190,054		4,841,328

Internet & Direct Marketing Retail 1.03%
Boozt AB^†*^(a)		232,049		4,361,519

Software 0.71%
Cint Group AB*		224,259		2,982,404
Total Sweden				24,356,881

Switzerland 2.84%

Containers & Packaging 0.45%
SIG Combibloc Group AG*		82,193		1,909,663

Health Care Equipment & Supplies 1.00%
Medmix AG^†*		98,144		4,246,605

Life Sciences Tools & Services 0.60%
Tecan Group AG		5,228		2,541,918

Machinery 0.79%
Sulzer AG		34,788		3,329,748
Total Switzerland				12,027,934

Taiwan 0.89%

Electrical Equipment
Bizlink Holding, Inc.		345,000		3,758,339

United Kingdom 19.56%

Aerospace & Defense 1.18%
Senior plc*		2,748,245		4,974,835

Investments	Shares		U.S. $ Fair Value
United Kingdom (continued)

Banks 0.70%
Virgin Money UK plc	1,151,354	$	2,980,199

Beverages 1.99%
Britvic plc	684,438		8,399,934

Biotechnology 0.85%
Genus plc	69,920		3,609,211

Capital Markets 1.79%
Man Group plc	2,269,110		5,927,652
Petershill Partners plc^†*	562,127		1,629,189
			7,556,841

Construction Materials 1.24%
Breedon Group plc	4,546,628		5,228,118

Entertainment 0.29%
Frontier Developments plc* 65,438			1,218,024

Equity Real Estate Investment Trusts 2.04%
Big Yellow Group plc	141,784		2,848,837
UNITE Group plc (The)	411,510		5,757,536
			8,606,373

Household Durables 0.78%
Focusrite plc	183,645		3,286,189

Insurance 0.64%
Lancashire Holdings Ltd.	368,227		2,726,284

Machinery 1.23%
Concentric AB	184,164		5,211,788

Media 0.64%
S4 Capital plc*	389,341		2,722,489

Pharmaceuticals 0.61%
Dechra Pharmaceuticals plc	46,018		2,584,786

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

INTERNATIONAL OPPORTUNITIES FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
United Kingdom (continued)

Professional Services 1.02%
SThree plc		677,818	$	4,303,915

Real Estate Management & Development 1.01%
Savills plc		234,932		4,281,103

Road & Rail 1.03%
National Express Group plc*		1,288,047		4,368,126

Specialty Retail 1.49%
WH Smith plc*		279,975		6,281,372

Trading Companies & Distributors 1.03%
Grafton Group plc		277,237		4,357,783
Total United Kingdom				82,697,370

United States 0.67%

Exchange-Traded Funds
VanEck Vectors Junior Gold Miners		74,331		2,849,107
Total Common Stocks (cost $393,664,024)				406,483,917

	Principal Amount

SHORT-TERM INVESTMENTS 4.39%

Repurchase Agreements 3.15%
Repurchase Agreement dated 1/31/2022, 0.00% due 2/1/2022 with Fixed Income Clearing Corp. collateralized by $11,973,500 of U.S. Treasury Inflation Indexed Note at 0.125% due 04/15/2025; value: $13,592,710; proceeds: $13,326,186 (cost $13,326,186)	$	13,326,186		13,326,186

Investments	Shares		U.S. $ Fair Value
Money Market Funds 1.12%
Fidelity Government Portfolio^(b) (cost $4,725,387)		4,725,387	$	4,725,387

Time Deposits 0.12%
CitiBank N.A.^(b) (cost $525,043)		525,043		525,043
Total Short-Term Investments (cost $18,576,616)				18,576,616
Total Investments in Securities 100.53% (cost $412,240,640)				425,060,533
Other Assets and Liabilities – Net^(c)(0.53)%				(2,251,355	)
Net Assets 100.00%			$	422,809,178

ADR		American Depositary Receipt.
^†		Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At January 31, 2022, the total value of Rule 144A securities was $31,866.329, which represents 7.53% of net assets.
^*		Non-income producing security.
^(a)		All or a portion of this security is temporarily on loan to unaffiliated broker/dealers.
^(b)		Security was purchased with the cash collateral from loaned securities.
^(C)		Other Assets and Liabilities - Net include net unrealized appreciation on total return swaps as follows:

36	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(concluded)

INTERNATIONAL OPPORTUNITIES FUND January 31, 2022

Open Total Return Swap Contracts at January 31, 2022:

Swap
Counterparty

Referenced
Index*

Referenced
Spread

Units

Position

Termination
Date

Notional
Amount

Value/
Unrealized
Appreciation

Bank of America

MLLACEB

1 Mo. LIBOR + 0.49%

94,010

Long

6/15/2022

$8,927,190

$681,573

Merrill Lynch Custom Basket Index.

LIBOR

London Interbank Offered Rate.

The following is a summary of the inputs used as of January 31, 2022 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks
Canada	$	11,431,018	$	–	$	–	$	11,431,018
Germany		6,146,673		37,210,012		–		43,356,685
Hong Kong		2,996,952		4,718,532		–		7,715,484
Iceland		5,323,375		–		–		5,323,375
Mexico		4,749,104		–		–		4,749,104
Spain		9,375,398		5,113,624		–		14,489,022
United Kingdom		10,924,168		71,773,202		–		82,697,370
United States		2,849,107		–		–		2,849,107
Remaining Countries		–		233,872,752		–		233,872,752
Short-Term Investments
Repurchase Agreements		–		13,326,186		–		13,326,186
Money Market Funds		4,725,387		–		–		4,725,387
Time Deposits		–		525,043		–		525,043
Total	$	58,521,182	$	366,539,351	$	–	$	425,060,533
Other Financial Instruments
Total Return Swap Contracts
Assets	$	–	$	681,573	$	–	$	681,573
Liabilities		–		–		–		–
Total	$	–	$	681,573	$	–	$	681,573

⁽¹⁾		Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuer and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

INTERNATIONAL VALUE FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
LONG-TERM INVESTMENTS 95.08%

COMMON STOCKS 95.08%

Australia 4.37%

Banks 0.70%
National Australia Bank Ltd.		238,485	$	4,601,674

Equity Real Estate Investment Trusts 1.15%
Goodman Group		454,142		7,498,668

Metals & Mining 2.52%
BHP Group Ltd.^(a)		512,057		16,421,951
Total Australia				28,522,293

Austria 2.85%

Banks 1.43%
BAWAG Group AG^†		155,356		9,323,716

Oil, Gas & Consumable Fuels 1.42%
OMV AG		151,349		9,263,221
Total Austria				18,586,937

Belgium 0.57%

Equity Real Estate Investment Trusts
Cofinimmo SA		25,184		3,715,161

Canada 3.81%

Banks 1.24%
Royal Bank of Canada^(a)		70,900		8,083,654

Food & Staples Retailing 1.43%
Alimentation Couche-Tard, Inc.		230,500		9,296,885

Oil, Gas & Consumable Fuels 1.14%
Pembina Pipeline Corp.^(a)		234,533		7,446,605
Total Canada				24,827,144

Investments	Shares		U.S. $ Fair Value
China 1.22%

Construction Materials 0.74%
China Resources Cement Holdings Ltd.		5,600,000	$	4,825,675

Real Estate Management & Development 0.07%
Logan Group Co., Ltd.		792,000		492,648

Specialty Retail 0.41%
Topsports International Holdings Ltd.^†		2,958,000		2,672,727
Total China				7,991,050

Finland 1.31%

Banks
Nordea Bank Abp		719,101		8,541,253

France 15.73%

Aerospace & Defense 2.25%
Airbus SE*		59,916		7,650,867
Thales SA		76,568		7,063,201
				14,714,068

Banks 1.82%
Credit Agricole SA		788,533		11,863,041

Building Products 1.54%
Cie de Saint-Gobain		148,958		10,079,611

Diversified Telecommunication Services 1.76%
Orange SA		978,688		11,497,091

Gas Utilities 0.73%
Rubis SCA		147,610		4,778,548

Information Technology Services 0.73%
Capgemini SE		21,068		4,736,431

Insurance 1.97%
AXA SA		405,054		12,828,464

38	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

INTERNATIONAL VALUE FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
France (continued)

Multi-Utilities 1.39%
Veolia Environnement SA		251,224	$	9,075,410

Pharmaceuticals 2.68%
Sanofi		167,250		17,487,996

Textiles, Apparel & Luxury Goods 0.86%
Kering SA		7,490		5,593,268
Total France				102,653,928

Germany 6.97%

Air Freight & Logistics 1.34%
Deutsche Post AG Registered Shares		145,043		8,728,773

Auto Components 0.69%
Continental AG*		46,335		4,492,183

Automobiles 0.93%
Volkswagen AG		21,076		6,103,147

Chemicals 1.52%
BASF SE		129,359		9,907,462

Insurance 1.93%
Allianz SE Registered Shares		49,028		12,588,063

Semiconductors & Semiconductor Equipment 0.56%
Infineon Technologies AG		87,732		3,643,312
Total Germany				45,462,940

Hong Kong 0.99%

Real Estate Management & Development
Kerry Properties Ltd.		2,276,000		6,429,391

India 1.66%

Banks 0.96%
Federal Bank Ltd.		4,607,937		6,274,670

Investments	Shares		U.S. $ Fair Value
India (continued)

Oil, Gas & Consumable Fuels 0.70%
Petronet LNG Ltd.		1,577,703	$	4,535,551
Total India				10,810,221

Ireland 0.68%

Beverages
C&C Group plc*		1,481,481		4,411,269

Italy 0.99%

Electric: Utilities
Enel SpA		838,322		6,452,227

Japan 16.63%

Auto Components 0.94%
Denso Corp.		82,000		6,119,962

Automobiles 1.48%
Toyota Motor Corp.		489,000		9,664,190

Banks 2.01%
Sumitomo Mitsui Financial Group, Inc.		363,200		13,082,810

Beverages 1.40%
Asahi Group Holdings Ltd.		224,500		9,164,248

Building Products 1.21%
Sanwa Holdings Corp.		726,900		7,871,648

Diversified Financial Services 1.34%
ORIX Corp.		424,600		8,758,276

Electrical Equipment 1.39%
Fuji Electric Co. Ltd.		170,000		9,085,864

Electronic Equipment, Instruments & Components 0.78%
Murata Manufacturing Co., Ltd.		68,100		5,119,981

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

INTERNATIONAL VALUE FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
Japan (continued)

Household Durables 1.39%
Sony Group Corp.		80,800	$	9,038,972

Industrial Conglomerates 1.08%
Hitachi Ltd.		135,500		7,042,748

Insurance 1.37%
Tokio Marine Holdings, Inc.		150,300		8,968,950

Machinery 0.77%
Fujitec Co. Ltd.		210,600		5,009,012

Trading Companies & Distributors 1.47%
ITOCHU Corp.		298,500		9,589,749
Total Japan				108,516,410

Mexico 1.50%

Banks 0.73%
Grupo Financiero Banorte SAB de CV Class O		752,566		4,769,754

Transportation Infrastructure 0.77%
Grupo Aeroportuario del Pacifico SAB de CV Class B		365,000		5,018,307
Total Mexico				9,788,061

Netherlands 5.04%

Food & Staples Retailing 1.71%
Koninklijke Ahold Delhaize NV		342,809		11,115,445

Oil, Gas & Consumable Fuels 3.33%
Shell PLC ADR		422,908		21,737,471
Total Netherlands				32,852,916

Singapore 1.64%

Banks
United Overseas Bank Ltd.		477,700		10,675,954

Investments	Shares		U.S. $ Fair Value
South Africa 1.76%

Metals & Mining
Anglo American plc		260,790	$	11,497,052

South Korea 1.20%

Technology Hardware, Storage & Peripherals
Samsung Electronics Co. Ltd.		126,331		7,857,672

Spain 1.04%

Banks
Banco Bilbao Vizcaya Argentaria SA		1,061,494		6,777,246

Sweden 2.21%

Commercial Services & Supplies 0.97%
Loomis AB		246,842		6,338,251

Oil, Gas & Consumable Fuels 1.24%
Lundin Energy AB		199,068		8,095,674
Total Sweden				14,433,925

Switzerland 5.67%

Capital Markets 2.13%
UBS Group AG Registered Shares		751,685		13,943,416

Food Products 0.79%
Nestle SA Registered Shares		39,823		5,142,674

Pharmaceuticals 2.75%
Novartis AG Registered Shares		107,353		9,327,847
Roche Holding AG		22,214		8,596,799
				17,924,646
Total Switzerland				37,010,736

40	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

INTERNATIONAL VALUE FUND January 31, 2022

Investments	Shares		U.S. $ Fair Value
United Kingdom 16.14%

Banks 2.99%
Barclays plc		3,627,434	$	9,731,744
Standard Chartered plc		1,340,691		9,763,916
				19,495,660

Electric: Utilities 1.50%
SSE plc		454,850		9,786,561

Equity Real Estate Investment Trusts 1.16%
UNITE Group plc (The)		541,774		7,580,090

Household Durables 0.89%
Persimmon plc		179,187		5,837,821

Insurance 1.95%
Beazley plc*		899,589		5,972,551
Prudential plc		398,788		6,721,860
				12,694,411

Multi-Line Retail 1.00%
Next plc		63,949		6,515,487

Personal Products 0.98%
Unilever plc		125,196		6,420,282

Pharmaceuticals 3.46%
AstraZeneca plc		71,247		8,288,016
GlaxoSmithKline plc		640,494		14,293,255
				22,581,271

Tobacco 1.44%
Imperial Brands plc		397,268		9,419,165

Trading Companies & Distributors 0.77%
Ashtead Group plc		69,811		4,993,440
Total United Kingdom				105,324,188

United States 1.10%

Auto Components
Lear Corp.		42,868		7,172,674
Total Common Stocks (cost $558,341,180)				620,310,648

Investments	Principal Amount		U.S. $ Fair Value
SHORT-TERM INVESTMENTS 8.54%

Repurchase Agreements 3.85%
Repurchase Agreement dated 1/31/2022, 0.00% due 2/1/2022 with Fixed Income Clearing Corp. collateralized by $22,454,700 of U.S. Treasury Inflation Indexed Note at 0.125% due 10/15/2024; value: $25,648,631; proceeds: $ 25,145,674 (cost $25,145,674)	$	25,145,674	$	25,145,674

	Shares

Money Market Fund 4.22%
Fidelity Government Portfolio^(b) (cost $27,517,296)		27,517,296		27,517,296

Time Deposit 0.47%
CitiBank N.A.^(b) (cost $3,057,478)		3,057,478		3,057,478
Total Short-Term Investments (cost $55,720,448)				55,720,448
Total Investments in Securities 103.62% (cost $614,061,628)				676,031,096
Other Assets and Liabilities – Net (3.62)%				(23,592,073	)
Net Assets 100.00%			$	652,439,023

ADR		American Depositary Receipt.
^†		Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At January 31, 2022, the total value of Rule 144A securities was $11,996.443, which represents 1.84% of net assets.
^*		Non-income producing security.
^(a)		All or a portion of this security is temporarily on loan to unaffiliated broker/dealers.
^(b)		Security was purchased with the cash collateral from loaned securities.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(concluded)

INTERNATIONAL VALUE FUND January 31, 2022

The following is a summary of the inputs used as of January 31, 2022 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks
Canada	$	24,827,144	$	–	$	–	$	24,827,144
China		492,648		7,498,402		–		7,991,050
Ireland		4,411,269		–		–		4,411,269
Mexico		9,788,061		–		–		9,788,061
Netherlands		21,737,471		11,115,445		–		32,852,916
United States		7,172,674		–		–		7,172,674
Remaining Countries		–		533,267,534		–		533,267,534
Short-Term Investments
Repurchase Agreements		–		25,145,674		–		25,145,674
Money Market Funds		27,517,296		–		–		27,517,296
Time Deposits		–		3,057,478		–		3,057,478
Total	$	95,946,563	$	580,084,533	$	–	$	676,031,096

⁽¹⁾		Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuer and/or geography. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

42	See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

MICRO CAP GROWTH FUND January 31, 2022

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 98.18%

COMMON STOCKS 98.18%

Air Freight & Logistics 1.93%
Atlas Air Worldwide Holdings, Inc.*		70,274	$	5,645,110

Auto Components 1.50%
Gentherm, Inc.*		50,300		4,395,717

Banks 3.96%
Bancorp, Inc. (The)*		156,800		4,675,776
Byline Bancorp, Inc.		101,637		2,642,562
Customers Bancorp, Inc.*		73,633		4,292,804
Total				11,611,142

Beverages 0.81%
MGP Ingredients, Inc.		31,234		2,363,164

Biotechnology 12.31%
Beam Therapeutics, Inc.*		22,617		1,565,322
BELLUS Health, Inc. (Canada)*^(a)(b)		425,977		2,632,538
Insmed, Inc.*		66,007		1,497,039
Karuna Therapeutics, Inc.*		39,654		4,403,973
Krystal Biotech, Inc.*^(b)		76,082		4,488,838
Merus NV (Netherlands)*^(a)		148,078		3,644,200
Myovant Sciences Ltd. (United Kingdom)*^(a)(b)		145,046		1,894,301
Protagonist Therapeutics, Inc.*		124,703		3,652,551
Rigel Pharmaceuticals, Inc.*		1,534,424		3,928,125
Rocket Pharmaceuticals, Inc.*		82,038		1,365,112
Syndax Pharmaceuticals, Inc.*		100,980		1,650,013
Turning Point Therapeutics, Inc.*		26,721		994,823
Xenon Pharmaceuticals, Inc. (Canada)*^(a)		160,499		4,352,733
Total				36,069,568

Investments	Shares		Fair Value
Capital Markets 3.78%
AssetMark Financial Holdings, Inc.*		194,280	$	4,660,777
Piper Sandler Cos.		41,670		6,426,348
Total				11,087,125

Commercial Services & Supplies 1.27%
Montrose Environmental Group, Inc.*		81,504		3,730,438

Communications Equipment 3.89%
AudioCodes Ltd. (Israel)^(a)		102,674		3,041,204
Calix, Inc.*		166,179		8,355,480
Total				11,396,684

Construction & Engineering 1.70%
Ameresco, Inc. Class A*		98,180		4,968,890

Diversified Consumer Services 0.75%
PowerSchool Holdings, Inc. Class A*		133,696		2,189,940

Diversified Telecommunication Services 2.02%
Ooma, Inc.*		327,279		5,904,113

Electronic Equipment, Instruments & Components 1.46%
OSI Systems, Inc.*		51,690		4,287,169

Food & Staples Retailing 0.49%
Chefs’ Warehouse, Inc. (The)*		48,262		1,440,138

Health Care Equipment & Supplies 7.16%
Axonics, Inc.*		70,563		3,346,803
NeuroPace, Inc.*		15,139		122,020
OrthoPediatrics Corp.*		103,530		4,895,934
Outset Medical, Inc.*		76,341		2,839,122
Pulmonx Corp.*		112,501		2,739,399
Shockwave Medical, Inc.*		17,709		2,567,274
SI-BONE, Inc.*		78,983		1,555,965
Treace Medical Concepts, Inc.*		160,717		2,915,406
Total				20,981,923

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

MICRO CAP GROWTH FUND January 31, 2022

Investments	Shares		Fair Value
Health Care Providers & Services 0.83%
Castle Biosciences, Inc.*		55,920	$	2,418,540

Health Care Technology 0.88%
Health Catalyst, Inc.*		86,782		2,590,443

Hotels, Restaurants & Leisure 3.15%
Kura Sushi USA, Inc. Class A*		31,482		1,452,894
Lindblad Expeditions Holdings, Inc.*		241,561		4,075,134
Monarch Casino & Resort, Inc.*		59,661		3,693,016
Total				9,221,044

Household Durables 5.87%
GoPro, Inc. Class A*		418,785		3,710,435
Green Brick Partners, Inc.*		170,871		4,046,225
LGI Homes, Inc.*		19,539		2,432,801
Lovesac Co. (The)*		75,208		4,049,951
Sonos, Inc.*		117,262		2,957,348
Total				17,196,760

Information Technology Services 0.92%
Grid Dynamics Holdings, Inc.*		100,718		2,684,135

Interactive Media & Services 0.48%
Eventbrite, Inc. Class A*		98,389		1,409,914

Life Sciences Tools & Services 1.86%
Codexis, Inc.*		115,004		2,357,582
NanoString Technologies, Inc.*		48,126		1,670,935
Quanterix Corp.*		47,037		1,431,806
Total				5,460,323

Machinery 4.10%
Evoqua Water Technologies Corp.*		110,395		4,470,997
Shyft Group, Inc. (The)		180,002		7,549,284
Total				12,020,281

Investments	Shares		Fair Value
Media 2.29%
Criteo SA ADR*		144,199	$	4,873,926
PubMatic, Inc. Class A*		74,132		1,819,941
Total				6,693,867

Personal Products 1.52%
elf Beauty, Inc.*		151,003		4,463,649

Pharmaceuticals 3.37%
Fulcrum Therapeutics, Inc.*		65,226		793,148
Intra-Cellular Therapies, Inc.*		165,655		7,866,956
Pliant Therapeutics, Inc.*		103,658		1,215,908
Total				9,876,012

Professional Services 4.64%
ICF International, Inc.		48,897		4,615,388
Kforce, Inc.		86,041		5,908,436
Willdan Group, Inc.*		97,479		3,066,689
Total				13,590,513

Semiconductors & Semiconductor Equipment 8.78%
CEVA, Inc.*		81,624		3,074,776
Ichor Holdings Ltd.*		135,419		5,744,474
Impinj, Inc.*		88,932		7,060,311
indie Semiconductor, Inc. Class A*		398,314		3,150,664
Rambus, Inc.*		265,211		6,696,578
Total				25,726,803

Software 7.72%
Agilysys, Inc.*		68,239		2,597,176
Arteris, Inc.*		208,352		3,081,526
AvidXchange Holdings, Inc.*		146,291		1,515,575
Everbridge, Inc.*		28,366		1,450,070
JFrog Ltd. (Israel)*^(a)		103,922		2,776,796
Olo, Inc. Class A*		116,519		2,044,908
Riskified Ltd. Class A (Israel)*^(a)		111,535		777,399
Sprout Social, Inc. Class A*		47,459		3,267,552
Zuora, Inc. Class A*		306,750		5,101,253
Total				22,612,255

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

MICRO CAP GROWTH FUND January 31, 2022

Investments	Shares		Fair Value
Specialty Retail 2.87%
Citi Trends, Inc.*		28,537	$	1,390,323
Container Store Group, Inc. (The)*		465,782		4,750,976
Sleep Number Corp.*		31,897		2,280,635
Total				8,421,934

Technology Hardware, Storage & Peripherals 1.40%
Avid Technology, Inc.*		130,570		4,094,675

Textiles, Apparel & Luxury Goods 0.72%
Oxford Industries, Inc.		25,717		2,118,824

Trading Companies & Distributors 2.00%
Lawson Products, Inc.*		31,244		1,520,333
Rush Enterprises, Inc. Class A		81,902		4,326,064
Total				5,846,397

Wireless Telecommunication Services 1.75%
Gogo, Inc.*^(b)		410,575		5,111,659
Total Common Stocks (cost $281,941,721)				287,629,149

	Principal Amount

SHORT-TERM INVESTMENTS 3.90%

Repurchase Agreements 1.84%
Repurchase Agreement dated 1/31/2022, 0.00% due 2/1/2022 with Fixed Income Clearing Corp. collateralized by $5,583,600 of U.S. Treasury Note at 0.75% due 11/15/2024; value: $5,500,029; proceeds: $5,392,183 (cost $5,392,183)	$	5,392,183		5,392,183

Investments	Shares		Fair Value
Money Market Funds 1.85%
Fidelity Government Portfolio^(c) (cost $5,417,740)		5,417,740	$	5,417,740

Time Deposits 0.21%
CitiBank N.A.^(c) (cost $601,972)		601,972		601,972
Total Short-Term Investments” (cost $11,411,895)				11,411,895
Total Investments in Securities 102.08% (cost $293,353,616)				299,041,044
Other Assets and Liabilities – Net (2.08)%				(6,088,567	)
Net Assets 100.00%			$	292,952,477

ADR		American Depositary Receipt.
*		Non-income producing security.
^(a)		Foreign security traded in U.S. dollars.
^(b)		All or a portion of this security is temporarily on loan to unaffiliated broker/dealers.
^(c)		Security was purchased with the cash collateral from loaned securities.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(concluded)

MICRO CAP GROWTH FUND January 31, 2022

The following is a summary of the inputs used as of January 31, 2022 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks	$	287,629,149	$	–	$	–	$	287,629,149
Short-Term Investments
Repurchase Agreements		–		5,392,183		–		5,392,183
Money Market Funds		5,417,740		–		–		5,417,740
Time Deposits		–		601,972		–		601,972
Total	$	293,046,889	$	5,994,155	$	–	$	299,041,044

⁽¹⁾		Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)

VALUE OPPORTUNITIES FUND January 31, 2022

Investments	Shares		Fair Value
LONG-TERM INVESTMENTS 98.44%

COMMON STOCKS 98.44%

Auto Components 2.41%
Gentherm, Inc.*		226,534	$	19,796,806
Lear Corp.		118,341		19,800,816
Total				39,597,622

Banks 7.11%
East West Bancorp, Inc.		381,535		32,941,732
First BanCorp		1,950,309		28,376,996
Signature Bank		106,673		32,495,796
Western Alliance Bancorp		232,155		23,027,454
Total				116,841,978

Biotechnology 1.00%
Horizon Therapeutics plc*		176,691		16,490,571

Building Products 5.99%
Allegion plc (Ireland)^(a)		127,887		15,695,571
Carlisle Cos., Inc.		146,688		32,775,967
Masonite International Corp.*		246,024		24,415,422
Simpson Manufacturing Co., Inc.		227,396		25,647,995
Total				98,534,955

Capital Markets 4.37%
Cboe Global Markets, Inc.		173,732		20,592,454
Evercore, Inc. Class A		147,556		18,417,940
Moelis & Co. Class A		347,756		19,637,781
TPG, Inc.*		393,200		13,199,724
Total				71,847,899

Chemicals 5.20%
Avient Corp.		514,922		25,627,668
Axalta Coating Systems Ltd.*		839,958		24,871,157
Valvoline, Inc.		1,064,512		35,065,025
Total				85,563,850

Investments	Shares		Fair Value
Communications Equipment 1.40%
F5, Inc.*		110,735	$	22,990,801

Construction & Engineering 1.46%
EMCOR Group, Inc.		201,702		24,044,895

Construction Materials 1.52%
Eagle Materials, Inc.		171,839		25,062,718

Containers & Packaging 1.75%
Avery Dennison Corp.		140,003		28,759,416

Electric: Utilities 2.57%
IDACORP, Inc.		193,182		21,292,520
Portland General Electric Co.		397,967		20,909,186
Total				42,201,706

Electrical Equipment 1.59%
Generac Holdings, Inc.*		92,398		26,091,347

Electronic Equipment, Instruments & Components 1.72%
Littelfuse, Inc.		105,040		28,357,649

Equity Real Estate Investment Trusts 5.90%
First Industrial Realty Trust, Inc.		494,936		30,082,210
Innovative Industrial Properties, Inc.		88,200		17,480,358
National Storage Affiliates Trust		439,594		27,061,407
Sunstone Hotel Investors, Inc.*		1,985,300		22,453,743
Total				97,077,718

Food & Staples Retailing 2.08%
BJ’s Wholesale Club Holdings, Inc.*		557,483		34,268,480

Health Care Equipment & Supplies 2.93%
Cooper Cos., Inc. (The)		42,012		16,733,380
STERIS plc		139,984		31,412,409
Total				48,145,789

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(continued)

VALUE OPPORTUNITIES FUND January 31, 2022

Investments	Shares		Fair Value
Health Care Providers & Services 1.80%
Molina Healthcare, Inc.*		102,051	$	29,643,774

Hotels, Restaurants & Leisure 2.85%
Caesars Entertainment, Inc.*		337,500		25,697,250
Choice Hotels International, Inc.		148,133		21,242,272
Total				46,939,522

Household Durables 1.98%
Helen of Troy Ltd.*		91,535		19,161,022
Sonos, Inc.*		530,810		13,387,028
Total				32,548,050

Information Technology Services 2.75%
Alliance Data Systems Corp.		256,148		17,684,458
Euronet Worldwide, Inc.*		206,204		27,608,654
Total				45,293,112

Insurance 3.86%
American Financial Group, Inc./OH		220,879		28,776,116
Stewart Information Services Corp.		485,260		34,662,122
Total				63,438,238

Life Sciences Tools & Services 4.71%
Bio-Techne Corp.		51,537		19,399,042
Charles River Laboratories International, Inc.*		71,694		23,641,813
PerkinElmer, Inc.		96,629		16,636,615
Repligen Corp.*		89,426		17,736,753
Total				77,414,223

Machinery 3.48%
Columbus McKinnon Corp.		512,367		22,175,244
Crane Co.		338,495		35,037,617
Total				57,212,861

Investments	Shares		Fair Value
Media 1.75%
Criteo SA ADR*		700,352	$	23,671,898
TechTarget, Inc.*		61,817		5,127,102
Total				28,799,000

Metals & Mining 1.50%
Reliance Steel & Aluminum Co.		161,729		24,725,130

Oil, Gas & Consumable Fuels 3.94%
Chesapeake Energy Corp.		401,438		27,366,029
Devon Energy Corp.		739,534		37,398,234
Total				64,764,263

Pharmaceuticals 0.54%
Organon & Co.		277,621		8,858,886

Professional Services 1.02%
Booz Allen Hamilton Holding Corp.		217,461		16,685,783

Real Estate Management & Development 1.16%
Marcus & Millichap, Inc.*		409,000		19,145,290

Road & Rail 1.87%
Saia, Inc.*		108,051		30,716,738

Semiconductors & Semiconductor Equipment 6.49%
Azenta, Inc.		259,250		21,865,145
Entegris, Inc.		274,459		32,891,166
MKS Instruments, Inc.		163,620		25,415,095
Silicon Motion Technology Corp. ADR		335,090		26,472,110
Total				106,643,516

Software 4.40%
Aspen Technology, Inc.*		172,939		25,968,520
CommVault Systems, Inc.*		366,280		24,709,249
Descartes Systems Group, Inc. (The) (Canada)*^(a)		296,863		21,602,721
Total				72,280,490

See Notes to Schedule of Investments.

Schedule of Investments (unaudited)(concluded)

VALUE OPPORTUNITIES FUND January 31, 2022

Investments	Shares		Fair Value
Specialty Retail 2.51%
Burlington Stores, Inc.*		61,943	$	14,676,155
Williams-Sonoma, Inc.		165,166		26,515,750
Total				41,191,905

Tobacco 0.98%
Turning Point Brands, Inc.		458,736		16,161,269

Trading Companies & Distributors 1.85%
AerCap Holdings NV (Ireland)*^(a)		482,497		30,397,311
Total Common Stocks (cost $1,232,904,433)				1,618,736,755

Investments	Principal Amount		Fair Value
SHORT-TERM INVESTMENTS 1.83%

Repurchase Agreements 1.83%
Repurchase Agreement dated 1/31/2022, 0.00% due 2/1/2022 with Fixed Income Clearing Corp. collateralized by $26,857,600 of U.S. Treasury Inflation Indexed Note at 0.125% due 10/15/2024; value: $30,677,794; proceeds: $30,076,241 (cost $30,076,241)	$	30,076,241	$	30,076,241
Total Investments in Securities 100.27% (cost $1,262,980,674)				1,648,812,996
Other Assets and Liabilities – Net (0.27)%				(4,505,255	)
Net Assets 100.00%			$	1,644,307,741

ADR		American Depositary Receipt.
*		Non-income producing security.
^(a)		Foreign security traded in U.S. dollars.

The following is a summary of the inputs used as of January 31, 2022 in valuing the Fund’s investments carried at fair value⁽¹⁾:

Investment Type⁽²⁾	Level 1		Level 2		Level 3		Total
Long-Term Investments
Common Stocks	$	1,618,736,755	$	–	$	–	$	1,618,736,755
Short-Term Investments
Repurchase Agreements		–		30,076,241		–		30,076,241
Total	$	1,618,736,755	$	30,076,241	$	–	$	1,648,812,996

⁽¹⁾		Refer to Note 2(b) for a description of fair value measurements and the three-tier hierarchy of inputs.
⁽²⁾		See Schedule of Investments for fair values in each industry and identification of foreign issuers and/or geography. When applicable each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund’s net assets.

See Notes to Schedule of Investments.

Notes to Financial Statements (unaudited)

1.	ORGANIZATION

Lord Abbett Securities Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as a diversified, open-end management investment company and was organized as a Delaware statutory trust on February 26, 1993. The Trust consists of the following fourteen funds (separately, a “Fund” and collectively, the “Funds”): Lord Abbett Alpha Strategy Fund (“Alpha Strategy Fund”), Lord Abbett Durable Growth Fund (“Durable Growth Fund”), Lord Abbett Focused Growth Fund (“Focused Growth Fund”), Lord Abbett Focused Large Cap Value Fund (“Focused Large Cap Value Fund”), Lord Abbett Focused Small Cap Value (“Focused Small Cap Value Fund”), Lord Abbett Fundamental Equity Fund (“Fundamental Equity Fund”), Lord Abbett Global Equity Fund (“Global Equity Fund”), Lord Abbett Growth Leaders Fund (“Growth Leaders Fund”), Lord Abbett Health Care Fund (“Health Care Fund”), Lord Abbett International Equity Fund (“International Equity Fund”), Lord Abbett International Value Fund (“International Value Fund”), Lord Abbett International Opportunities Fund (“International Opportunities Fund”), Lord Abbett Micro-Cap Growth Fund (“Micro Cap Growth Fund”) and Lord Abbett Value Opportunities Fund (“Value Opportunities Fund”).

Each of Alpha Strategy Fund’s, Focused Large Cap Value Fund’s, Focused Small Cap Value Fund’s, Global Equity Fund’s, Health Care Fund’s, International Equity Fund’s, International Opportunities Fund’s, and Value Opportunities Fund’s investment objective is to seek long-term capital appreciation. Micro Cap Growth Fund’s investment object is long-term capital appreciation. Alpha Strategy Fund invests principally in other funds (“Underlying Funds”) managed by Lord, Abbett & Co. LLC (“Lord Abbett”). Fundamental Equity Fund’s investment objective is long-term growth of capital and income without excessive fluctuations in market value. Durable Growth Fund, Growth Leaders Fund’s and Focused Growth Fund’s investment objective is to seek capital appreciation. International Value Fund’s investment objective is to seek a high level of total return.

2.	SIGNIFICANT ACCOUNTING POLICIES

(a)	Investment Valuation–Under procedures approved by the Funds’ Board of Trustees (the “Board”), Lord, Abbett & Co. LLC (“Lord Abbett”), each Fund’s investment manager, has formed a Pricing Committee to administer the pricing and valuation of portfolio investments and to ensure that prices utilized reasonably reflect fair value. Among other things, these procedures allow the Funds to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

	Securities actively traded on any recognized U.S. or non-U.S. exchange or on The NASDAQ Stock Market LLC are valued at the last sale price or official closing price on the exchange or system on which they are principally traded. Events occurring after the close of trading on non-U.S. exchanges may result in adjustments to the valuation of foreign securities to reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain criteria, the Board has approved the use of an independent fair valuation service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that correlate to the fair-valued securities. Unlisted equity securities are valued at the last quoted sale price or, if no sale price is available, at the mean between the most recently quoted bid and asked prices. Investments in the Underlying Funds are

Notes to Financial Statements (unaudited)(continued)

	valued at their net asset value (“NAV”) each business day at the close of regular trading on the NYSE, normally 4:00 p.m. Eastern time.

	Securities for which prices are not readily available are valued at fair value as determined by the Pricing Committee. The Pricing Committee considers a number of factors, including observable and unobservable inputs, when arriving at fair value. The Pricing Committee may use related or comparable assets or liabilities, recent transactions, market multiples, book values, yield curves, broker quotes, observable trading activity, option adjusted spread models and other relevant information to determine the fair value of portfolio investments. The Board or a designated committee thereof regularly reviews fair value determinations made by the Pricing Committee and may employ techniques such as reviewing related market activity, reviewing inputs and assumptions, and retrospectively comparing prices of subsequent purchases and sales transactions to fair value determinations made by the Pricing Committee.

	Investments in open-end money market mutual funds are valued at their NAV as of the close of each business day. Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value.

(b)	Fair Value Measurements–Fair value is defined as the price that each Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk - for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy classification is determined based on the lowest level of inputs that is significant to the fair value measurement, and is summarized in the three broad Levels listed below:

•	Level 1 –	unadjusted quoted prices in active markets for identical investments;

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

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

A summary of inputs used in valuing each Fund’s investments and other financial instruments as of January 31, 2022 and, if applicable, Level 3 rollforwards for the period then ended is included in each Fund’s Schedule of Investments.

Changes in valuation techniques may result in transfers into or out of an assigned level within the three-tier hierarchy. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Notes to Financial Statements (unaudited)(continued)

3.	FEDERAL TAX INFORMATION

It is the policy of the Funds to meet the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all taxable income and capital gains to its shareholders. Therefore, no income tax provision is required.

The Funds files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on the Funds’ filed U.S. federal tax returns remains open generally three years after the filing of the tax return. The statutes of limitations on the Fund’s, state and local tax returns may remain open for an additional year depending upon the jurisdiction.

4.	SECURITIES LENDING AGREEMENT

The Funds have established a securities lending agreement with Citibank, N.A. for the lending of securities to qualified brokers in exchange for securities or cash collateral equal to at least the market value of securities loaned, plus interest, if applicable. Cash collateral is invested in an approved money market fund. In accordance with the Funds’ securities lending agreement, the market value of securities on loan is determined each day at the close of business and any additional collateral required to cover the value of securities on loan is delivered to the Funds on the next business day. As with other extensions of credit, the Funds may experience a delay in the recovery of their securities or incur a loss should the borrower of the securities breach its agreement with the Funds become insolvent at a time when the collateral is insufficient to cover the cost of repurchasing securities on loan.

The initial collateral received by the Funds is required to have a value equal to at least 100% of the market value of the securities loaned. The collateral must be marked-to-market daily to cover increases in the market value of the securities loaned (or potentially a decline in the value of the collateral). In general, the risk of borrower default will be borne by Citibank, N.A.; the Funds will bear the risk of loss with respect to the investment of the cash collateral. The advantage of such loans is that the Funds continue to receive income on loaned securities while receiving a portion of any securities lending fees and earning returns on the cash amounts which may be reinvested for the purchase of investments in securities.

As of January 31, 2022, the market value of securities loaned and collateral received for the Funds were as follows:

Funds	Market Value of Securities Loaned			Collateral Received
Focused Small Cap Value Fund		$	3,684,465		$	3,626,364
International Equity Fund			8,542,265			8,965,040
International Opportunities Fund			5,247,818			5,250,430
International Value Fund			25,403,860			30,574,774
Micro Cap Growth Fund			5,809,437			6,019,712

Notes to Financial Statements (unaudited)(concluded)

5.	TRANSACTIONS WITH AFFILIATED ISSUERS

An affiliated issuer is one in which a Fund has ownership of at least 5% of the outstanding voting securities of the underlying issuer at any point during the fiscal year or any company which is under common ownership or control. Alpha Strategy Fund had the following transactions with affiliated issuers (i.e. the Underlying Funds) during the period ended January 31, 2022:

																Alpha Strategy Fund
Affiliated Issuer	Value at 10/31/2021		Purchases at Cost		Proceeds from Sales			Net Realized Gain (Loss)			Change in Appreciation (Depreciation)			Value at 1/31/2022		Shares as of 1/31/2022		Dividend Income
Lord Abbett Developing Growth Fund, Inc. - Class I	$	175,650,188	$	32,578,283	$	–		$	14,125,590	^(a)	$	(58,655,514	)	$	149,572,957		5,287,132	$	–
Lord Abbett Securities Trust - Focused Small Cap Value Fund - Class I		90,235,170		8,760,540		(2,686,433	)		8,391,044	^(b)		(10,138,777	)		85,984,251		2,923,640		183,246
Lord Abbett Securities Trust - International Opportunities Fund - Class I		170,753,580		5,536,940		–			–			(16,495,691	)		159,794,829		8,001,744		4,130,841
Lord Abbett Securities Trust - Micro-Cap Growth Fund - Class I		85,447,699		579,388		–			–			(18,161,878	)		67,865,209		3,621,409		–
Lord Abbett Research Fund, Inc. - Small-Cap Value Fund - Class I		178,800,321		20,842,472		(8,084,103	)		18,261,799	^(c)		(23,125,951	)		166,335,251		8,443,414		483,184
Lord Abbett Securities Trust - Value Opportunities Fund - Class I		180,099,301		21,000,762		(6,145,125	)		21,194,471	^(d)		(32,192,313	)		163,343,101		7,871,956		386,767
Total	$	880,986,259	$	89,298,385	$	(16,915,661	)	$	61,972,904		$	(158,770,124	)	$	792,895,598		36,149,295	$	5,184,038

^(a)	Includes $14,125,590 of distributed capital gains.
^(b)	Includes $8,577,293 of distributed capital gains.
^(c)	Includes $20,359,287 of distributed capital gains.
^(d)	Includes $20,613,995 of distributed capital gains.

Investments in Underlying Funds (unaudited)

Alpha Strategy Fund invests in Underlying Funds managed by Lord Abbett. As of January 31, 2022, Alpha Strategy Fund’s long-term investments were allocated among the Underlying Funds as follows:

Underlying Fund Name		% of Investments
Lord Abbett Developing Growth Fund, Inc.		18.86%
Lord Abbett Focused Small Cap Value Fund		10.85%
Lord Abbett International Opportunities Fund		20.15%
Lord Abbett Micro-Cap Growth Fund		8.56%
Lord Abbett Small Cap Value Fund		20.98%
Lord Abbett Value Opportunities Fund		20.60%
Total		100.00%

The Ten Largest Holdings and the Holdings by Sector or Credit Rating, as of January 31, 2022 for each Underlying Fund are presented below. Each Underlying Fund’s annual and semiannual reports, which are sent to shareholders and filed with the SEC, contain information about the Underlying Fund’s portfolio holdings, including a complete schedule of holdings. A complete schedule of holdings for each Underlying Fund is also filed with the SEC on Form N-PORT as of the end of each respective Underlying Fund’s first and third quarters. In addition, on or about the first day of the second month following each calendar quarter-end, each Fund makes publicly available a complete schedule of its portfolio holdings as of the last day of each such quarter. The information for the most recently ended calendar quarter may be viewed at www.lordabbett.com or requested at no charge by calling Lord Abbett at 888-522-2388.

Developing Growth Fund

Ten Largest Holdings		% of Investments
Semtech Corp.		2.19%
Calix, Inc.		2.16%
Endava plc		2.14%
Intra-Cellular Therapies, Inc.		2.13%
Diodes, Inc.		2.10%
Inspire Medical Systems, Inc.		1.95%
Livent Corp.		1.88%
Globant SA		1.86%
SiTime Corp.		1.83%
Evoqua Water Technologies Corp.		1.71%

Holdings by Sector*		% of Investments
Communication Services		2.95%
Consumer Discretionary		13.02%
Consumer Staples		2.65%
Diversified		0.27%
Financials		7.11%
Health Care		21.61%
Industrials		12.55%
Information Technology		32.92%
Materials		4.53%
Repurchase Agreements		1.69%
Money Market Funds^(a)		0.63%
Time Deposits^(a)		0.07%
Total		100.00%

*	A sector may comprise several industries.
^(a)	Securities were purchased with the cash collateral from loaned securities.

Investments in Underlying Funds (unaudited)(continued)

Focused Small Cap Value Fund

Ten Largest Holdings		% of Investments
MEG Energy Corp.		3.71%
Silicon Motion Technology Corp.		3.28%
Organon & Co.		3.19%
Eagle Materials, Inc.		3.19%
Customers Bancorp, Inc.		3.18%
TrueBlue, Inc.		3.09%
Valaris Ltd.		3.04%
American Equity Investment Life Holding Co.		3.02%
International Money Express, Inc.		2.96%
Chesapeake Energy Corp.		2.94%

Holdings by Sector*		% of Investments
Communication Services		4.94%
Consumer Discretionary		6.25%
Consumer Staples		3.99%
Energy		9.70%
Financials		31.37%
Health Care		5.63%
Industrials		14.24%
Information Technology		9.43%
Materials		5.17%
Real Estate		6.04%
Repurchase Agreements		1.49%
Money Market Funds^(a)		1.57%
Time Deposits^(a)		0.18%
Total		100.00%

*	A sector may comprise several industries.
^(a)	Securities were purchased with the cash collateral from loaned securities.

International Opportunities Fund

Ten Largest Holdings		% of Investments
ANDRITZ AG		2.03%
Britvic plc		1.98%
Rheinmetall AG		1.66%
Federal Bank Ltd.		1.64%
BAWAG Group AG		1.60%
NS Solutions Corp.		1.51%
WH Smith plc		1.48%
GUD Holdings Ltd.		1.43%
Aozora Bank Ltd.		1.43%
UTI Asset Management Co. Ltd.		1.41%

Investments in Underlying Funds (unaudited)(continued)

Holdings by Sector*		% of Investments
Communication Services		3.02%
Consumer Discretionary		13.25%
Consumer Staples		4.73%
Financials		13.54%
Health Care		5.47%
Industrials		24.58%
Information Technology		10.02%
Materials		9.29%
Real Estate		9.20%
Exchange Traded Fund		0.67%
Utilities		1.86%
Repurchase Agreements		3.14%
Money Market Funds^(a)		1.11%
Time Deposits^(a)		0.12%
Total		100.00%

*	A sector may comprise several industries.
^(a)	Securities were purchased with the cash collateral from loaned securities.

Micro Cap Growth Fund

Ten Largest Holdings		% of Investments
Calix, Inc.		2.79%
Intra-Cellular Therapies, Inc.		2.63%
Shyft Group, Inc. (The)		2.52%
Impinj, Inc.		2.36%
Rambus, Inc.		2.24%
Piper Sandler Cos.		2.15%
Kforce, Inc.		1.98%
Ooma, Inc.		1.97%
Ichor Holdings Ltd.		1.92%
Atlas Air Worldwide Holdings, Inc.		1.89%

Holdings by Sector*		% of Investments
Communication Services		6.39%
Consumer Discretionary		14.56%
Consumer Staples		2.77%
Financials		7.59%
Health Care		25.88%
Industrials		15.32%
Information Technology		23.68%
Repurchase Agreements		1.80%
Money Market Funds^(a)		1.81%
Time Deposits^(a)		0.20%
Total		100.00%

*	A sector may comprise several industries.
^(a)	Securities were purchased with the cash collateral from loaned securities.

Investments in Underlying Funds (unaudited)(continued)

Small Cap Value Fund

Ten Largest Holdings		% of Investments
MEG Energy Corp.		3.11%
Customers Bancorp, Inc.		2.94%
Bancorp, Inc. (The)		2.59%
PacWest Bancorp		2.27%
First BanCorp		2.27%
Chesapeake Energy Corp.		2.20%
Valvoline, Inc.		2.13%
Crane Co.		2.09%
Silicon Motion Technology Corp.		2.06%
International Money Express, Inc.		2.05%

Holdings by Sector*		% of Investments
Communication Services		4.74%
Consumer Discretionary		6.71%
Consumer Staples		5.48%
Energy		8.18%
Financials		25.21%
Health Care		5.79%
Industrials		15.93%
Information Technology		11.78%
Materials		6.41%
Real Estate		7.25%
Utilities		1.77%
Repurchase Agreements		0.75%
Total		100.00%

*	A sector may comprise several industries.

Value Opportunities Fund

Ten Largest Holdings		% of Investments
Devon Energy Corp.		2.27%
Valvoline, Inc.		2.13%
Crane Co.		2.13%
Stewart Information Services Corp.		2.10%
BJ’s Wholesale Club Holdings, Inc.		2.08%
East West Bancorp, Inc.		2.00%
Entegris, Inc.		1.99%
Carlisle Cos., Inc.		1.99%
Signature Bank		1.97%
STERIS plc		1.91%

Investments in Underlying Funds (unaudited)(concluded)

Holdings by Sector*		% of Investments
Communication Services		1.75%
Consumer Discretionary		9.72%
Consumer Staples		3.06%
Energy		3.93%
Financials		15.29%
Health Care		10.95%
Industrials		17.21%
Information Technology		16.71%
Materials		9.95%
Real Estate		7.05%
Utilities		2.56%
Repurchase Agreements		1.82%
Total		100.00%

*	A sector may comprise several industries.

QPHR-SET-1Q
(03/22)