Schedule

of

Investments

California

Municipal

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

1

INVESTMENT

COMPANIES

-

0

.44

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.44

%

Invesco

California

AMT-Free

Municipal

Bond

ETF

12,500‌

$

310‌

iShares

California

Muni

Bond

ETF

38,402‌

2,210‌

$

2,520‌

TOTAL

INVESTMENT

COMPANIES

$

2,520‌

MUNICIPAL

BONDS

-

101

.68

%

Principal

Amount

(000's)

Value

(000's)

California

-

97

.71

%

Abag

Finance

Authority

for

Nonprofit

Corps

5.00%,

08/01/2043

$

1,500‌

$

1,510‌

Alameda

Community

Improvement

Commission

Successor

Agency

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

09/01/2031

(a)

1,000‌

1,044‌

Alameda

Corridor

Transportation

Authority

0.00%,

10/01/2047

(b)

1,750‌

887‌

5.00%,

10/01/2035

5,270‌

5,489‌

Alameda

Unified

School

District-Alameda

County/CA

5.00%,

08/01/2032

1,795‌

1,918‌

Anaheim

Housing

&

Public

Improvements

Authority

5.00%,

10/01/2050

1,000‌

1,041‌

Beverly

Hills

Unified

School

District

CA

3.00%,

08/01/2044

2,040‌

1,728‌

California

Community

Choice

Financing

Authority

4.00%,

08/01/2030

1,500‌

1,545‌

4.00%,

08/01/2031

1,245‌

1,272‌

4.00%,

02/01/2052

(c)

5,000‌

5,068‌

4.00%,

10/01/2052

(c)

5,000‌

5,074‌

5.00%,

07/01/2053

(c)

2,500‌

2,676‌

California

County

Tobacco

Securitization

Agency

4.00%,

06/01/2049

1,500‌

1,383‌

California

Educational

Facilities

Authority

5.00%,

10/01/2036

1,000‌

1,055‌

5.00%,

10/01/2045

1,000‌

1,042‌

California

Health

Facilities

Financing

Authority

5.00%,

08/15/2031

2,700‌

2,943‌

5.00%,

08/15/2034

2,000‌

2,168‌

5.00%,

02/01/2035

2,000‌

2,081‌

5.00%,

06/01/2041

(c)

10,000‌

11,662‌

5.00%,

11/15/2046

(d)

4,500‌

4,850‌

5.00%,

11/15/2048

2,785‌

2,889‌

California

Health

Facilities

Financing

Authority

(credit

support

from

California

Mortgage

Insurance

)

5.00%,

07/01/2035

(a)

1,000‌

1,002‌

California

Housing

Finance

Agency

3.50%,

11/20/2035

9,245‌

8,957‌

4.25%,

01/15/2035

8,525‌

8,518‌

California

Housing

Finance

Agency

(credit

support

from

Federal

Home

Loan

Mortgage

Corporation

Collateral

)

3.75%,

03/25/2035

(a)

2,460‌

2,459‌

California

Infrastructure

&

Economic

Development

Bank

3.65%,

01/01/2050

(c)

5,000‌

5,000‌

5.00%,

08/01/2036

2,250‌

2,510‌

5.00%,

08/01/2037

1,000‌

1,111‌

5.00%,

08/01/2038

1,175‌

1,303‌

5.00%,

08/01/2039

1,130‌

1,248‌

California

Municipal

Finance

Authority

2.40%,

10/01/2044

(c)

6,500‌

5,932‌

4.00%,

07/15/2029

11,700‌

11,588‌

4.00%,

10/01/2039

2,150‌

2,160‌

4.00%,

10/01/2046

1,930‌

1,731‌

5.00%,

05/15/2033

1,000‌

1,059‌

5.00%,

05/15/2034

1,000‌

1,055‌

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

California

(continued)

California

Municipal

Finance

Authority  

(continued)

5.00%,

12/31/2034

$

7,550‌

$

8,005‌

5.00%,

12/31/2036

8,000‌

8,348‌

5.00%,

05/15/2038

2,000‌

2,075‌

5.00%,

10/01/2044

1,000‌

1,042‌

5.25%,

11/01/2036

3,750‌

3,826‌

California

Municipal

Finance

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

4.00%,

05/15/2046

(a)

2,000‌

1,910‌

5.00%,

05/15/2031

(a)

400‌

454‌

5.00%,

05/15/2043

(a)

600‌

637‌

5.00%,

05/15/2044

(a)

5,000‌

5,294‌

California

Municipal

Finance

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

-

Transfer

Custodial

Receipt

)

5.00%,

05/15/2031

(a)

10,000‌

11,066‌

California

Pollution

Control

Financing

Authority

3.00%,

11/01/2025

10,500‌

10,350‌

3.25%,

12/01/2027

(c)

2,000‌

1,995‌

4.30%,

07/01/2040

3,600‌

3,641‌

5.00%,

07/01/2029

(e)

1,000‌

1,049‌

5.00%,

07/01/2030

(e)

2,000‌

2,009‌

5.00%,

07/01/2037

(e)

10,000‌

10,026‌

5.00%,

07/01/2039

(e)

9,250‌

9,473‌

California

Public

Finance

Authority

5.00%,

11/15/2036

(e)

275‌

266‌

5.00%,

11/15/2046

(e)

500‌

448‌

5.00%,

11/15/2051

(e)

250‌

221‌

5.00%,

11/15/2056

(e)

750‌

650‌

California

School

Finance

Authority

5.00%,

07/01/2035

(e)

1,925‌

1,980‌

5.00%,

08/01/2038

(e)

1,000‌

1,035‌

California

State

Public

Works

Board

5.00%,

10/01/2039

4,500‌

4,665‌

California

State

University

5.00%,

11/01/2037

2,000‌

2,174‌

California

Statewide

Communities

Development

Authority

3.00%,

06/01/2029

(e)

750‌

688‌

4.00%,

09/02/2029

1,000‌

1,029‌

4.00%,

07/01/2048

1,800‌

1,803‌

5.00%,

10/01/2028

1,875‌

1,962‌

5.00%,

11/01/2032

(e)

1,135‌

1,170‌

5.00%,

05/15/2034

5,210‌

5,383‌

5.00%,

06/01/2034

(e)

375‌

378‌

5.00%,

09/02/2034

1,000‌

1,091‌

5.00%,

12/01/2036

(e)

5,000‌

5,081‌

5.00%,

09/02/2038

3,000‌

3,160‌

5.00%,

06/01/2039

(e)

475‌

473‌

5.00%,

09/02/2039

945‌

1,003‌

5.00%,

09/02/2039

900‌

952‌

5.00%,

09/02/2039

745‌

788‌

5.00%,

05/15/2040

3,840‌

3,917‌

5.00%,

09/02/2040

1,000‌

1,052‌

5.00%,

12/01/2041

(e)

2,725‌

2,733‌

5.00%,

09/02/2044

1,425‌

1,485‌

5.00%,

12/01/2046

(e)

1,620‌

1,578‌

5.00%,

09/02/2048

940‌

974‌

5.00%,

09/02/2049

600‌

621‌

5.00%,

06/01/2051

(e)

1,950‌

1,862‌

5.25%,

12/01/2034

3,500‌

3,600‌

5.25%,

12/01/2038

(e)

1,000‌

1,031‌

5.25%,

12/01/2043

(e)

3,825‌

3,924‌

Schedule

of

Investments

California

Municipal

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

2

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

California

(continued)

California

Statewide

Communities

Development

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

4.00%,

05/15/2036

(a)

$

3,000‌

$

3,109‌

California

Statewide

Financing

Authority

6.00%,

05/01/2043

2,050‌

2,089‌

6.00%,

05/01/2043

1,550‌

1,579‌

Chino

Valley

Unified

School

District

5.25%,

08/01/2047

2,000‌

2,162‌

City

of

Compton

CA

Water

Revenue

6.00%,

08/01/2039

1,250‌

1,251‌

City

of

Irvine

CA

4.00%,

09/02/2038

1,000‌

1,015‌

5.00%,

09/01/2049

2,000‌

2,019‌

City

of

Long

Beach

CA

Airport

System

Revenue

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.25%,

06/01/2047

(a)

3,600‌

3,925‌

City

of

Los

Angeles

CA

1.70%,

08/01/2026

(c)

688‌

688‌

City

of

Los

Angeles

CA

Wastewater

System

Revenue

5.00%,

06/01/2034

2,000‌

2,125‌

City

of

Los

Angeles

Department

of

Airports

3.25%,

05/15/2049

720‌

598‌

5.00%,

05/15/2026

1,000‌

1,050‌

5.00%,

05/15/2026

3,085‌

3,294‌

5.00%,

05/15/2026

415‌

447‌

5.00%,

05/15/2029

1,875‌

2,105‌

5.00%,

05/15/2036

(d)

235‌

273‌

5.00%,

05/15/2036

5,000‌

5,408‌

5.00%,

05/15/2036

1,500‌

1,550‌

5.00%,

05/15/2037

(d)

4,225‌

4,653‌

5.00%,

05/15/2038

1,155‌

1,239‌

5.00%,

05/15/2039

(d)

3,000‌

3,208‌

5.00%,

05/15/2044

(d)

7,790‌

8,210‌

5.00%,

05/15/2044

(d)

3,100‌

3,231‌

5.00%,

05/15/2044

(d)

550‌

575‌

5.00%,

05/15/2047

(d)

3,500‌

3,620‌

5.00%,

05/15/2048

1,500‌

1,571‌

5.25%,

05/15/2048

(d)

2,000‌

2,105‌

5.50%,

05/15/2040

(d)

5,000‌

5,703‌

City

of

Riverside

CA

Sewer

Revenue

5.00%,

08/01/2040

4,000‌

4,188‌

City

of

San

Francisco

CA

Public

Utilities

Commission

Water

Revenue

5.00%,

11/01/2034

1,800‌

1,971‌

Coachella

Valley

Unified

School

District/

CA

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

0.00%,

08/01/2039

(a),(b)

4,000‌

2,059‌

Compton

Public

Finance

Authority

4.50%,

09/01/2032

(e)

8,000‌

7,944‌

County

of

Sacramento

CA

Airport

System

Revenue

5.00%,

07/01/2036

1,350‌

1,436‌

5.00%,

07/01/2037

2,000‌

2,126‌

CSCDA

Community

Improvement

Authority

5.00%,

01/01/2054

(e)

5,000‌

4,412‌

Dinuba

Redevelopment

Agency

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

09/01/2033

(a)

2,000‌

2,087‌

East

Bay

Municipal

Utility

District

Water

System

Revenue

3.00%,

06/01/2037

10‌

10‌

Escondido

Union

High

School

District

0.00%,

08/01/2041

(b)

1,000‌

460‌

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

California

(continued)

Foothill-Eastern

Transportation

Corridor

Agency

4.00%,

01/15/2046

$

5,000‌

$

4,869‌

Golden

State

Tobacco

Securitization

Corp

5.00%,

06/01/2026

1,000‌

1,094‌

5.00%,

06/01/2028

5,000‌

5,606‌

5.00%,

06/01/2051

2,000‌

2,126‌

Indio

Redevelopment

Agency

Successor

Agency

5.63%,

08/15/2035

295‌

296‌

Inland

Valley

Development

Agency

5.25%,

09/01/2037

1,000‌

1,021‌

La

Verne

Public

Financing

Authority

7.25%,

09/01/2026

370‌

371‌

Long

Beach

Bond

Finance

Authority

5.00%,

11/15/2035

3,485‌

3,810‌

5.50%,

11/15/2030

1,010‌

1,138‌

Los

Angeles

County

Public

Works

Financing

Authority

5.00%,

12/01/2033

2,000‌

2,154‌

Los

Angeles

County

Sanitation

Districts

Financing

Authority

5.00%,

10/01/2035

4,500‌

4,815‌

Los

Angeles

Department

of

Water

&

Power

5.00%,

07/01/2042

(d)

5,500‌

6,265‌

Los

Angeles

Unified

School

District/CA

5.00%,

07/01/2035

2,700‌

3,007‌

5.25%,

07/01/2042

8,125‌

8,910‌

Merced

Union

High

School

District

0.00%,

08/01/2032

(b)

3,380‌

2,537‌

Metropolitan

Water

District

of

Southern

California

5.00%,

07/01/2039

1,000‌

1,146‌

5.00%,

07/01/2040

5,000‌

5,686‌

5.00%,

10/01/2045

1,410‌

1,569‌

Mountain

View

Shoreline

Regional

Park

Community

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

08/01/2048

(a)

3,000‌

3,228‌

Norco

Community

Redevelopment

Agency

Successor

Agency

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

03/01/2032

(a)

1,000‌

1,030‌

Norman

Y

Mineta

San

Jose

International

Airport

SJC

5.00%,

03/01/2047

6,000‌

6,184‌

5.00%,

03/01/2047

1,500‌

1,572‌

Nuveen

California

AMT-Free

Quality

Municipal

Income

Fund

2.11%,

10/01/2047

(c),(e)

12,000‌

12,000‌

Oakland

Unified

School

District/Alameda

County

5.00%,

08/01/2040

3,400‌

3,635‌

Oakland

Unified

School

District/Alameda

County

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

4.00%,

08/01/2037

(a)

1,505‌

1,555‌

Pittsburg

Successor

Agency

Redevelopment

Agency

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

09/01/2028

(a)

1,000‌

1,086‌

5.00%,

09/01/2029

(a)

1,000‌

1,087‌

Port

Commission

of

the

City

&

County

of

San

Francisco

4.00%,

03/01/2035

1,000‌

1,012‌

Port

of

Los

Angeles

5.00%,

08/01/2032

1,740‌

1,797‌

Poway

Unified

School

District

0.00%,

08/01/2036

(b)

4,000‌

2,475‌

Schedule

of

Investments

California

Municipal

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

3

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

California

(continued)

Regents

of

the

University

of

California

Medical

Center

Pooled

Revenue

5.00%,

05/15/2035

$

4,540‌

$

4,890‌

Rialto

Redevelopment

Agency

5.00%,

09/01/2037

1,000‌

1,089‌

Richmond

Joint

Powers

Financing

Authority

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

11/01/2035

(a)

1,180‌

1,322‌

5.00%,

11/01/2037

(a)

3,660‌

4,057‌

Ripon

Unified

School

District

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

0.00%,

08/01/2033

(a),(b)

855‌

494‌

Ripon

Unified

School

District

-

Unrefunded

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

0.00%,

08/01/2033

(a),(b)

255‌

148‌

Riverside

Community

Properties

Development

Inc

6.00%,

10/15/2038

1,000‌

1,026‌

Riverside

County

Public

Financing

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

10/01/2029

(a)

1,500‌

1,603‌

Riverside

County

Transportation

Commission

4.00%,

06/01/2037

1,875‌

1,906‌

Sacramento

Area

Flood

Control

Agency

5.00%,

10/01/2033

2,000‌

2,191‌

Salinas

Valley

Solid

Waste

Authority

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.50%,

08/01/2031

(a)

3,250‌

3,393‌

San

Diego

Association

of

Governments

South

Bay

Expressway

Revenue

5.00%,

07/01/2036

1,500‌

1,628‌

5.00%,

07/01/2037

2,300‌

2,485‌

San

Diego

County

Regional

Airport

Authority

4.00%,

07/01/2038

9,895‌

9,997‌

5.00%,

07/01/2039

2,000‌

2,181‌

5.00%,

07/01/2042

5,000‌

5,199‌

San

Diego

Public

Facilities

Financing

Authority

4.00%,

08/01/2045

1,000‌

1,016‌

San

Diego

Unified

School

District/CA

4.00%,

07/01/2038

2,120‌

2,190‌

San

Francisco

Bay

Area

Rapid

Transit

District

Sales

Tax

Revenue

4.00%,

07/01/2036

3,035‌

3,149‌

4.00%,

07/01/2037

2,500‌

2,586‌

San

Francisco

City

&

County

Airport

Comm-San

Francisco

International

Airport

5.00%,

05/01/2031

1,000‌

1,086‌

5.00%,

05/01/2034

1,000‌

1,098‌

5.00%,

05/01/2036

3,000‌

3,242‌

5.00%,

05/01/2042

1,500‌

1,560‌

San

Joaquin

Hills

Transportation

Corridor

Agency

5.00%,

01/15/2034

7,800‌

8,222‌

San

Luis

Obispo

County

Financing

Authority

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

08/01/2030

(a)

1,000‌

1,002‌

San

Luis

Obispo

County

Financing

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

09/01/2037

(a)

1,000‌

1,057‌

San

Mateo

Foster

City

Public

Financing

Authority

4.00%,

08/01/2037

2,070‌

2,167‌

San

Ramon

Valley

Fire

Protection

District

4.00%,

08/01/2050

680‌

682‌

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

California

(continued)

Santa

Monica-Malibu

Unified

School

District

4.00%,

08/01/2038

$

2,975‌

$

3,062‌

4.00%,

08/01/2039

1,510‌

1,544‌

Southern

California

Public

Power

Authority

5.00%,

11/01/2028

2,150‌

2,338‌

5.00%,

11/01/2029

2,725‌

2,985‌

State

of

California

2.45%,

12/01/2031

35‌

35‌

5.00%,

09/01/2028

5,030‌

5,812‌

5.00%,

09/01/2034

5,000‌

5,434‌

5.00%,

02/01/2038

1,450‌

1,450‌

Stockton

Unified

School

District

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

08/01/2038

(a)

1,500‌

1,543‌

Tender

Option

Bond

Trust

Receipts/Certificates

1.76%,

01/01/2044

(c),(e)

1,000‌

1,000‌

1.84%,

07/01/2056

(c),(e)

2,800‌

2,800‌

Tobacco

Securitization

Authority

of

Southern

California

5.00%,

06/01/2035

1,500‌

1,637‌

5.00%,

06/01/2048

5,000‌

5,241‌

Transbay

Joint

Powers

Authority

5.00%,

10/01/2030

400‌

450‌

5.00%,

10/01/2037

700‌

749‌

Travis

Unified

School

District

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

09/01/2029

(a)

1,000‌

1,070‌

Tulare

County

Transportation

Authority

5.00%,

02/01/2029

1,000‌

1,024‌

University

of

California

4.00%,

05/15/2037

3,365‌

3,605‌

5.00%,

05/15/2037

(f)

2,000‌

2,402‌

5.00%,

05/15/2044

705‌

722‌

Woodland-Davis

Clean

Water

Agency

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

03/01/2039

(a)

1,500‌

1,585‌

$

563,065‌

Guam

-

1

.58

%

Guam

Government

Waterworks

Authority

5.00%,

07/01/2040

7,890‌

8,085‌

Port

Authority

of

Guam

5.00%,

07/01/2048

1,000‌

1,034‌

$

9,119‌

Puerto

Rico

-

1

.31

%

Commonwealth

of

Puerto

Rico

0.00%,

07/01/2024

(b)

136‌

127‌

0.00%,

07/01/2033

(b)

526‌

305‌

0.00%,

11/01/2043

(b),(c)

1,929‌

851‌

4.00%,

07/01/2033

3,327‌

3,111‌

4.00%,

07/01/2037

316‌

279‌

4.00%,

07/01/2041

429‌

369‌

4.00%,

07/01/2046

446‌

372‌

5.25%,

07/01/2023

228‌

230‌

5.38%,

07/01/2025

456‌

466‌

5.63%,

07/01/2027

451‌

473‌

5.63%,

07/01/2029

444‌

472‌

5.75%,

07/01/2031

431‌

468‌

$

7,523‌

Schedule

of

Investments

California

Municipal

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

4

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Virgin

Islands

-

1

.08

%

Matching

Fund

Special

Purpose

Securitization

Corp

5.00%,

10/01/2039

$

6,250‌

$

6,242‌

TOTAL

MUNICIPAL

BONDS

$

585,949‌

Total

Investments

$

588,469‌

Liability

for

Floating

Rate

Notes

Issued

in

Conjunction

with

Securities

Held

-

(4.43)%

Notes

with

interest

rates

of

1.69%

-

1.74%

at

January

31,

2023

and

contractual

maturities

of

collateral

of

2023-2030.

(g)

$

(

25,520‌

)

(

25,520‌

)

Total

Net

Investments

$

562,949‌

Other

Assets

and

Liabilities

-  2.31%

13,303‌

TOTAL

NET

ASSETS

-

100.00%

$

576,252‌

(a)

Credit

support

indicates

investments

that

benefit

from

credit

enhancement

or

liquidity

support

provided

by

a

third

party

bank,

institution,

or

government

agency.

(b)

Non-income

producing

security

(c)

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(d)

Security

or

portion

of

underlying

security

related

to

Inverse

Floaters

entered

into

by

the

fund.

(e)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$74,231

or

12.88%

of

net

assets.

(f)

Security

purchased

on

a

when-issued

basis.

(g)

Floating

rate

securities.

The

interest

rate(s)

shown

reflect

the

rates

in

effect

at

January

31,

2023.

Portfolio

Summary  (unaudited)

Sector

Percent

Revenue

Bonds

71

.64‌

%

Insured

10

.47‌

%

General

Obligation

Unlimited

8

.32‌

%

Prerefunded

5

.29‌

%

Special

Assessment

2

.68‌

%

Tax-exempt

Preferreds

2

.08‌

%

Tax

Allocation

0

.58‌

%

Investment

Companies

0

.44‌

%

Special

Tax

0

.35‌

%

Notes

0

.15‌

%

Certificate

Participation

0

.12‌

%

Liability

For

Floating

Rate

Notes

Issued

(

4

.43‌

)

%

Other

Assets

and

Liabilities

2

.31‌

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

Core

Fixed

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

5

INVESTMENT

COMPANIES

-

4

.34

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

4

.34

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

2,462,868‌

$

2,462‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b),(c)

439,257,710‌

439,258‌

$

441,720‌

TOTAL

INVESTMENT

COMPANIES

$

441,720‌

COMMON

STOCKS

-

0

.45

%

Shares

Held

Value

(000's)

Oil

&

Gas

-

0

.24

%

Chord

Energy

Corp

170,173‌

$

24,391‌

Transportation

-

0

.21

%

Trailer

Bridge

Inc

(d),(e),(f)

178,279‌

20,883‌

TOTAL

COMMON

STOCKS

$

45,274‌

BONDS

-

52

.47

%

Principal

Amount

(000's)

Value

(000's)

Airlines

-

0

.60

%

Alaska

Airlines

2020-1

Class

A

Pass

Through

Trust

4.80%,

02/15/2029

(g)

$

25,297‌

$

24,610‌

Delta

Air

Lines

Inc

/

SkyMiles

IP

Ltd

4.75%,

10/20/2028

(g)

24,492‌

23,863‌

United

Airlines

2013-1

Class

A

Pass

Through

Trust

4.30%,

02/15/2027

5,808‌

5,529‌

United

Airlines

2019-2

Class

AA

Pass

Through

Trust

2.70%,

11/01/2033

7,961‌

6,636‌

$

60,638‌

Apparel

-

0

.13

%

Under

Armour

Inc

3.25%,

06/15/2026

14,750‌

13,395‌

Automobile

Asset

Backed

Securities

-

1

.99

%

BMW

Vehicle

Owner

Trust

2022-A

4.83%,

12/26/2024

14,124‌

14,126‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.52%

Carvana

Auto

Receivables

Trust

2021-P4

0.82%,

04/10/2025

7,763‌

7,694‌

1.31%,

01/11/2027

18,000‌

17,175‌

Ford

Credit

Auto

Owner

Trust

2022-B

4.88%,

02/15/2025

19,515‌

19,523‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.60%

Ford

Credit

Auto

Owner

Trust

2022-C

4.80%,

04/15/2025

39,500‌

39,500‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.52%

GM

Financial

Consumer

Automobile

Receivables

Trust

2022-3

4.88%,

09/16/2025

22,903‌

22,930‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.60%

GM

Financial

Consumer

Automobile

Receivables

Trust

2022-4

4.93%,

11/17/2025

35,500‌

35,570‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.65%

GM

Financial

Consumer

Automobile

Receivables

Trust

2023-1

4.85%,

03/16/2026

18,000‌

18,028‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.62%

Toyota

Auto

Receivables

2022-B

Owner

Trust

4.77%,

01/15/2025

13,560‌

13,561‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.49%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Automobile

Asset

Backed

Securities

(continued)

Toyota

Auto

Receivables

2022-C

Owner

Trust

4.87%,

08/15/2025

$

14,500‌

$

14,516‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.57%

$

202,623‌

Automobile

Floor

Plan

Asset

Backed

Securities

-

0

.01

%

Ford

Credit

Floorplan

Master

Owner

Trust

A

4.95%,

09/15/2025

500‌

500‌

1.00

x

1

Month

USD

LIBOR

+

0.50%

Automobile

Manufacturers

-

0

.29

%

American

Honda

Finance

Corp

0.55%,

07/12/2024

15,000‌

14,121‌

2.30%,

09/09/2026

7,000‌

6,495‌

4.75%,

01/12/2026

9,000‌

9,075‌

$

29,691‌

Banks

-

9

.78

%

Bank

of

America

Corp

0.81%,

10/24/2024

(h)

20,000‌

19,347‌

Secured

Overnight

Financing

Rate

+

0.74%

2.46%,

10/22/2025

(h)

35,000‌

33,460‌

3

Month

USD

LIBOR

+

0.87%

3.19%,

07/23/2030

(h)

8,000‌

7,175‌

3

Month

USD

LIBOR

+

1.18%

3.88%,

08/01/2025

10,000‌

9,852‌

3.97%,

02/07/2030

(h)

8,000‌

7,566‌

3

Month

USD

LIBOR

+

1.21%

5.08%,

01/20/2027

(h)

20,000‌

20,073‌

Secured

Overnight

Financing

Rate

+

1.29%

6.75%,

06/01/2028

2,000‌

2,176‌

Bank

of

New

York

Mellon

Corp/The

0.35%,

12/07/2023

18,000‌

17,343‌

1.65%,

01/28/2031

10,000‌

8,046‌

2.10%,

10/24/2024

50,000‌

47,980‌

2.20%,

08/16/2023

9,500‌

9,360‌

2.80%,

05/04/2026

8,000‌

7,600‌

3.00%,

10/30/2028

9,000‌

8,236‌

Citigroup

Inc

0.78%,

10/30/2024

(h)

9,000‌

8,701‌

Secured

Overnight

Financing

Rate

+

0.69%

2.98%,

11/05/2030

(h)

51,000‌

44,851‌

Secured

Overnight

Financing

Rate

+

1.42%

3.88%,

03/26/2025

23,000‌

22,581‌

4.45%,

09/29/2027

8,000‌

7,849‌

Cullen/Frost

Bankers

Inc

4.50%,

03/17/2027

11,000‌

10,695‌

Fifth

Third

Bancorp

2.38%,

01/28/2025

59,000‌

56,288‌

3.65%,

01/25/2024

14,000‌

13,828‌

Goldman

Sachs

Group

Inc/The

1.99%,

01/27/2032

(h)

15,000‌

12,006‌

Secured

Overnight

Financing

Rate

+

1.09%

3.50%,

11/16/2026

21,000‌

20,170‌

3.81%,

04/23/2029

(h)

13,000‌

12,277‌

3

Month

USD

LIBOR

+

1.16%

4.25%,

10/21/2025

23,500‌

23,134‌

JPMorgan

Chase

&

Co

1.05%,

11/19/2026

(h)

9,000‌

8,055‌

Secured

Overnight

Financing

Rate

+

0.80%

2.53%,

11/19/2041

(h)

9,000‌

6,452‌

Secured

Overnight

Financing

Rate

+

1.51%

2.74%,

10/15/2030

(h)

47,000‌

41,079‌

Secured

Overnight

Financing

Rate

+

1.51%

3.63%,

05/13/2024

15,900‌

15,744‌

3.90%,

07/15/2025

8,000‌

7,874‌

KeyCorp

2.25%,

04/06/2027

30,000‌

27,419‌

2.55%,

10/01/2029

50,000‌

43,518‌

Schedule

of

Investments

Core

Fixed

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

6

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Morgan

Stanley

0.86%,

10/21/2025

(h)

$

7,500‌

$

6,951‌

Secured

Overnight

Financing

Rate

+

0.75%

1.79%,

02/13/2032

(h)

10,000‌

7,911‌

Secured

Overnight

Financing

Rate

+

1.03%

1.93%,

04/28/2032

(h)

6,250‌

4,965‌

Secured

Overnight

Financing

Rate

+

1.02%

2.70%,

01/22/2031

(h)

38,000‌

32,975‌

Secured

Overnight

Financing

Rate

+

1.14%

2.72%,

07/22/2025

(h)

12,000‌

11,587‌

Secured

Overnight

Financing

Rate

+

1.15%

3.95%,

04/23/2027

10,000‌

9,666‌

4.00%,

07/23/2025

5,000‌

4,920‌

5.12%,

02/01/2029

(h)

18,000‌

18,201‌

Secured

Overnight

Financing

Rate

+

1.73%

6.25%,

08/09/2026

4,000‌

4,206‌

PNC

Bank

NA

2.70%,

10/22/2029

53,000‌

46,537‌

2.95%,

02/23/2025

10,000‌

9,686‌

3.10%,

10/25/2027

4,750‌

4,536‌

PNC

Financial

Services

Group

Inc/The

2.31%,

04/23/2032

(h)

15,000‌

12,647‌

Secured

Overnight

Financing

Rate

+

0.98%

8.12%,

05/01/2023

(i)

19,800‌

19,849‌

3

Month

USD

LIBOR

+

3.68%

Truist

Bank

2.64%,

09/17/2029

(h)

52,000‌

49,029‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.15%

2.75%,

05/01/2023

21,000‌

20,900‌

3.30%,

05/15/2026

5,000‌

4,763‌

Truist

Financial

Corp

1.27%,

03/02/2027

(h)

5,500‌

4,974‌

Secured

Overnight

Financing

Rate

+

0.61%

US

Bancorp

2.49%,

11/03/2036

(h)

29,000‌

23,175‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

0.95%

3.00%,

07/30/2029

6,000‌

5,464‌

3.15%,

04/27/2027

3,800‌

3,628‌

3.60%,

09/11/2024

12,000‌

11,836‌

3.90%,

04/26/2028

5,000‌

4,930‌

4.84%,

02/01/2034

(h),(j)

25,000‌

24,852‌

Secured

Overnight

Financing

Rate

+

1.60%

US

Bank

NA/Cincinnati

OH

2.80%,

01/27/2025

7,000‌

6,785‌

Wells

Fargo

&

Co

2.41%,

10/30/2025

(h)

32,000‌

30,548‌

Secured

Overnight

Financing

Rate

+

1.09%

2.88%,

10/30/2030

(h)

32,000‌

28,320‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.43%

$

994,576‌

Beverages

-

0

.55

%

Anheuser-Busch

Cos

LLC

/

Anheuser-Busch

InBev

Worldwide

Inc

4.70%,

02/01/2036

34,000‌

33,696‌

Anheuser-Busch

InBev

Worldwide

Inc

4.90%,

01/23/2031

(k)

21,000‌

21,748‌

$

55,444‌

Biotechnology

-

1

.76

%

Amgen

Inc

1.65%,

08/15/2028

20,000‌

17,216‌

2.20%,

02/21/2027

11,500‌

10,549‌

2.45%,

02/21/2030

40,000‌

34,787‌

Biogen

Inc

2.25%,

05/01/2030

65,000‌

55,109‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Biotechnology

(continued)

Gilead

Sciences

Inc

1.20%,

10/01/2027

$

19,000‌

$

16,496‌

2.60%,

10/01/2040

19,000‌

14,106‌

3.50%,

02/01/2025

10,000‌

9,784‌

3.65%,

03/01/2026

21,000‌

20,456‌

$

178,503‌

Chemicals

-

0

.75

%

Air

Liquide

Finance

SA

2.25%,

09/10/2029

(g)

24,000‌

20,770‌

Westlake

Corp

2.88%,

08/15/2041

15,000‌

10,552‌

3.38%,

06/15/2030

4,500‌

4,038‌

3.60%,

08/15/2026

43,000‌

41,131‌

$

76,491‌

Commercial

Services

-

0

.39

%

ERAC

USA

Finance

LLC

7.00%,

10/15/2037

(g)

13,000‌

15,119‌

United

Rentals

North

America

Inc

6.00%,

12/15/2029

(g)

24,000‌

24,360‌

$

39,479‌

Computers

-

0

.90

%

Apple

Inc

1.13%,

05/11/2025

10,000‌

9,313‌

2.05%,

09/11/2026

30,000‌

27,826‌

2.38%,

02/08/2041

20,000‌

14,923‌

2.40%,

05/03/2023

14,650‌

14,568‌

3.20%,

05/11/2027

13,000‌

12,543‌

3.25%,

02/23/2026

13,000‌

12,637‌

$

91,810‌

Credit

Card

Asset

Backed

Securities

-

0

.92

%

BA

Credit

Card

Trust

0.34%,

05/15/2026

43,000‌

41,350‌

CARDS

II

Trust

0.60%,

04/15/2027

(g)

55,500‌

52,607‌

$

93,957‌

Diversified

Financial

Services

-

0

.60

%

Jefferies

Financial

Group

Inc

2.63%,

10/15/2031

30,000‌

24,638‌

2.75%,

10/15/2032

8,000‌

6,357‌

4.15%,

01/23/2030

19,000‌

17,735‌

4.85%,

01/15/2027

1,750‌

1,756‌

6.25%,

01/15/2036

10,325‌

10,956‌

$

61,442‌

Electric

-

7

.70

%

AEP

Transmission

Co

LLC

3.15%,

09/15/2049

24,000‌

18,025‌

Alabama

Power

Co

1.45%,

09/15/2030

25,000‌

20,130‌

3.13%,

07/15/2051

19,000‌

13,877‌

3.45%,

10/01/2049

42,000‌

32,347‌

Alliant

Energy

Finance

LLC

1.40%,

03/15/2026

(g)

4,500‌

3,951‌

American

Electric

Power

Co

Inc

1.00%,

11/01/2025

11,450‌

10,311‌

Berkshire

Hathaway

Energy

Co

2.85%,

05/15/2051

23,000‌

16,271‌

4.05%,

04/15/2025

10,000‌

9,874‌

Black

Hills

Corp

2.50%,

06/15/2030

15,000‌

12,537‌

3.05%,

10/15/2029

39,500‌

34,738‌

3.15%,

01/15/2027

7,500‌

7,067‌

4.35%,

05/01/2033

8,000‌

7,449‌

Dayton

Power

&

Light

Co/The

3.95%,

06/15/2049

14,000‌

11,597‌

Entergy

Corp

2.40%,

06/15/2031

24,000‌

19,841‌

Schedule

of

Investments

Core

Fixed

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

7

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electric

(continued)

Entergy

Louisiana

LLC

2.90%,

03/15/2051

$

18,500‌

$

12,868‌

3.25%,

04/01/2028

12,000‌

11,246‌

4.20%,

09/01/2048

31,000‌

27,475‌

Florida

Power

&

Light

Co

2.85%,

04/01/2025

3,000‌

2,893‌

2.88%,

12/04/2051

20,000‌

14,543‌

3.15%,

10/01/2049

25,000‌

19,431‌

Interstate

Power

and

Light

Co

2.30%,

06/01/2030

9,500‌

8,017‌

3.50%,

09/30/2049

66,000‌

50,557‌

Louisville

Gas

and

Electric

Co

3.30%,

10/01/2025

3,000‌

2,894‌

Metropolitan

Edison

Co

3.50%,

03/15/2023

(g)

9,900‌

9,879‌

4.30%,

01/15/2029

(g)

14,000‌

13,501‌

Monongahela

Power

Co

3.55%,

05/15/2027

(g)

20,000‌

19,126‌

Nevada

Power

Co

2.40%,

05/01/2030

20,500‌

17,868‌

NextEra

Energy

Capital

Holdings

Inc

2.75%,

11/01/2029

51,000‌

45,353‌

Northern

States

Power

Co/MN

2.90%,

03/01/2050

18,500‌

13,474‌

Oncor

Electric

Delivery

Co

LLC

0.55%,

10/01/2025

13,000‌

11,695‌

2.70%,

11/15/2051

15,000‌

10,537‌

2.95%,

04/01/2025

7,000‌

6,745‌

3.10%,

09/15/2049

33,500‌

25,346‌

4.10%,

11/15/2048

5,000‌

4,496‌

5.75%,

03/15/2029

21,000‌

22,268‌

PacifiCorp

5.25%,

06/15/2035

5,750‌

5,965‌

5.35%,

12/01/2053

18,500‌

19,758‌

6.25%,

10/15/2037

2,500‌

2,810‌

PPL

Electric

Utilities

Corp

3.00%,

10/01/2049

17,000‌

12,766‌

Public

Service

Co

of

Colorado

1.88%,

06/15/2031

11,500‌

9,495‌

3.20%,

03/01/2050

15,000‌

11,575‌

Solar

Star

Funding

LLC

3.95%,

06/30/2035

(g)

5,261‌

4,681‌

5.38%,

06/30/2035

(g)

18,795‌

18,808‌

Southwestern

Electric

Power

Co

1.65%,

03/15/2026

24,000‌

21,819‌

2.75%,

10/01/2026

10,000‌

9,300‌

3.85%,

02/01/2048

12,500‌

9,843‌

Tucson

Electric

Power

Co

3.05%,

03/15/2025

2,000‌

1,922‌

3.25%,

05/01/2051

18,000‌

12,663‌

3.85%,

03/15/2023

19,900‌

19,878‌

4.85%,

12/01/2048

7,000‌

6,415‌

Xcel

Energy

Inc

2.60%,

12/01/2029

32,000‌

28,096‌

3.50%,

12/01/2049

24,000‌

18,790‌

$

782,811‌

Electronics

-

0

.42

%

Keysight

Technologies

Inc

3.00%,

10/30/2029

48,000‌

42,964‌

Environmental

Control

-

0

.50

%

Republic

Services

Inc

1.75%,

02/15/2032

29,500‌

23,793‌

2.30%,

03/01/2030

16,500‌

14,308‌

3.20%,

03/15/2025

13,000‌

12,556‌

$

50,657‌

Food

-

0

.20

%

Kraft

Heinz

Foods

Co

3.75%,

04/01/2030

21,000‌

19,870‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Gas

-

0

.38

%

NiSource

Inc

2.95%,

09/01/2029

$

29,000‌

$

25,977‌

3.60%,

05/01/2030

14,000‌

12,948‌

$

38,925‌

Healthcare

-

Services

-

0

.50

%

HCA

Inc

4.13%,

06/15/2029

14,000‌

13,307‌

5.63%,

09/01/2028

2,000‌

2,036‌

7.50%,

11/06/2033

1,950‌

2,158‌

UnitedHealth

Group

Inc

2.00%,

05/15/2030

9,000‌

7,681‌

2.88%,

08/15/2029

15,000‌

13,700‌

3.50%,

08/15/2039

14,000‌

12,163‌

$

51,045‌

Insurance

-

2

.80

%

Berkshire

Hathaway

Finance

Corp

1.45%,

10/15/2030

36,500‌

29,972‌

1.85%,

03/12/2030

8,000‌

6,860‌

2.50%,

01/15/2051

12,500‌

8,476‌

2.85%,

10/15/2050

30,500‌

21,966‌

Berkshire

Hathaway

Inc

3.00%,

02/11/2023

(k)

8,000‌

7,995‌

Fidelity

National

Financial

Inc

3.40%,

06/15/2030

32,000‌

28,181‌

4.50%,

08/15/2028

39,500‌

38,674‌

First

American

Financial

Corp

2.40%,

08/15/2031

22,000‌

17,112‌

4.00%,

05/15/2030

28,000‌

25,560‌

4.30%,

02/01/2023

21,800‌

21,800‌

4.60%,

11/15/2024

5,000‌

4,936‌

Five

Corners

Funding

Trust

4.42%,

11/15/2023

(g)

49,500‌

49,148‌

Prudential

Financial

Inc

2.10%,

03/10/2030

(k)

23,000‌

19,675‌

3.88%,

03/27/2028

4,550‌

4,459‌

$

284,814‌

Internet

-

0

.87

%

Amazon.com

Inc

2.80%,

08/22/2024

44,000‌

42,848‌

2.88%,

05/12/2041

20,000‌

15,764‌

4.05%,

08/22/2047

32,650‌

29,616‌

$

88,228‌

Lodging

-

0

.98

%

Choice

Hotels

International

Inc

3.70%,

12/01/2029

42,000‌

37,804‌

3.70%,

01/15/2031

11,000‌

9,748‌

Marriott

International

Inc/MD

2.75%,

10/15/2033

36,000‌

29,188‌

Travel

+

Leisure

Co

4.50%,

12/01/2029

(g)

26,500‌

22,793‌

$

99,533‌

Media

-

1

.53

%

Comcast

Corp

2.65%,

02/01/2030

33,000‌

29,504‌

3.30%,

02/01/2027

10,000‌

9,614‌

3.95%,

10/15/2025

15,000‌

14,784‌

4.25%,

10/15/2030

4,500‌

4,449‌

6.45%,

03/15/2037

1,800‌

2,087‌

Discovery

Communications

LLC

3.63%,

05/15/2030

9,000‌

7,917‌

4.13%,

05/15/2029

22,000‌

20,224‌

5.30%,

05/15/2049

13,000‌

10,996‌

Time

Warner

Cable

LLC

6.55%,

05/01/2037

7,400‌

7,564‌

6.75%,

06/15/2039

6,000‌

6,169‌

7.30%,

07/01/2038

7,750‌

8,310‌

Schedule

of

Investments

Core

Fixed

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

8

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

(continued)

Walt

Disney

Co/The

2.00%,

09/01/2029

$

28,000‌

$

24,196‌

6.40%,

12/15/2035

8,900‌

10,253‌

$

156,067‌

Oil

&

Gas

-

1

.11

%

BP

Capital

Markets

America

Inc

3.12%,

05/04/2026

10,000‌

9,611‌

3.41%,

02/11/2026

13,000‌

12,650‌

3.94%,

09/21/2028

13,000‌

12,757‌

Canadian

Natural

Resources

Ltd

2.05%,

07/15/2025

9,000‌

8,421‌

3.80%,

04/15/2024

35,000‌

34,479‌

Marathon

Petroleum

Corp

5.13%,

12/15/2026

8,500‌

8,587‌

Nabors

Industries

Inc

5.10%,

09/15/2023

5,000‌

4,931‌

Phillips

66

1.30%,

02/15/2026

11,500‌

10,454‌

Suncor

Energy

Inc

4.00%,

11/15/2047

4,500‌

3,778‌

W&T

Offshore

Inc

9.75%,

11/01/2023

(g)

6,750‌

6,753‌

$

112,421‌

Oil

&

Gas

Services

-

0

.32

%

Schlumberger

Holdings

Corp

4.00%,

12/21/2025

(g)

33,000‌

32,360‌

Other

Asset

Backed

Securities

-

1

.64

%

PFS

Financing

Corp

0.71%,

04/15/2026

(g)

14,000‌

13,259‌

0.77%,

08/15/2026

(g)

39,000‌

36,465‌

4.88%,

02/15/2026

(g)

24,000‌

23,951‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.60%

Trafigura

Securitisation

Finance

PLC

2021-1

4.98%,

01/15/2025

(g)

37,500‌

36,472‌

1.00

x

1

Month

USD

LIBOR

+

0.53%

Verizon

Master

Trust

1.04%,

01/20/2027

(l)

24,000‌

23,548‌

4.90%,

07/20/2027

28,000‌

28,049‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.62%

Verizon

Owner

Trust

2019-C

4.91%,

04/22/2024

23‌

23‌

1.00

x

1

Month

USD

LIBOR

+

0.42%

Verizon

Owner

Trust

2020-C

0.41%,

04/21/2025

5,435‌

5,344‌

$

167,111‌

Packaging

&

Containers

-

0

.09

%

Sealed

Air

Corp

5.50%,

09/15/2025

(g)

2,000‌

1,988‌

6.88%,

07/15/2033

(g)

6,900‌

7,172‌

$

9,160‌

Pharmaceuticals

-

1

.03

%

Bristol-Myers

Squibb

Co

1.13%,

11/13/2027

12,500‌

10,950‌

1.45%,

11/13/2030

10,000‌

8,173‌

3.20%,

06/15/2026

13,124‌

12,709‌

3.40%,

07/26/2029

8,346‌

7,954‌

3.90%,

02/20/2028

10,500‌

10,361‌

CVS

Health

Corp

1.30%,

08/21/2027

14,000‌

12,144‌

3.00%,

08/15/2026

17,000‌

16,078‌

4.30%,

03/25/2028

5,046‌

4,961‌

5.05%,

03/25/2048

23,000‌

21,867‌

$

105,197‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Pipelines

-

1

.57

%

Buckeye

Partners

LP

3.95%,

12/01/2026

$

10,500‌

$

9,610‌

4.15%,

07/01/2023

10,000‌

9,947‌

4.35%,

10/15/2024

8,000‌

7,742‌

Columbia

Pipeline

Group

Inc

4.50%,

06/01/2025

11,900‌

11,796‌

El

Paso

Natural

Gas

Co

LLC

7.50%,

11/15/2026

11,400‌

12,325‌

NGPL

PipeCo

LLC

3.25%,

07/15/2031

(g)

15,000‌

12,694‌

4.88%,

08/15/2027

(g)

43,000‌

41,966‌

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp

4.50%,

12/15/2026

13,500‌

13,179‌

Southeast

Supply

Header

LLC

4.25%,

06/15/2024

(g)

14,650‌

13,844‌

Southern

Natural

Gas

Co

LLC

8.00%,

03/01/2032

4,750‌

5,364‌

Tennessee

Gas

Pipeline

Co

LLC

8.38%,

06/15/2032

2,000‌

2,331‌

TransCanada

PipeLines

Ltd

6.10%,

06/01/2040

7,000‌

7,507‌

7.25%,

08/15/2038

10,000‌

11,681‌

$

159,986‌

REITs

-

8

.28

%

Alexandria

Real

Estate

Equities

Inc

1.88%,

02/01/2033

13,000‌

10,050‌

2.00%,

05/18/2032

14,000‌

11,162‌

2.75%,

12/15/2029

14,500‌

12,708‌

3.38%,

08/15/2031

30,000‌

27,174‌

4.30%,

01/15/2026

9,900‌

9,794‌

4.90%,

12/15/2030

4,250‌

4,271‌

American

Tower

Corp

1.88%,

10/15/2030

20,000‌

16,041‌

2.10%,

06/15/2030

3,000‌

2,458‌

2.40%,

03/15/2025

7,000‌

6,638‌

2.75%,

01/15/2027

53,000‌

48,846‌

2.95%,

01/15/2051

10,000‌

6,586‌

3.38%,

10/15/2026

5,000‌

4,745‌

CBL

&

Associates

LP

-

Escrow

0.00%,

12/15/2026

(d),(e),(k)

13,750‌

—‌

Crown

Castle

Inc

2.25%,

01/15/2031

13,000‌

10,850‌

2.90%,

04/01/2041

30,000‌

22,050‌

3.10%,

11/15/2029

8,000‌

7,201‌

4.00%,

11/15/2049

17,000‌

13,794‌

4.30%,

02/15/2029

13,000‌

12,610‌

5.00%,

01/11/2028

18,000‌

18,212‌

CubeSmart

LP

2.00%,

02/15/2031

26,000‌

20,448‌

3.00%,

02/15/2030

18,000‌

15,507‌

4.00%,

11/15/2025

5,000‌

4,867‌

4.38%,

02/15/2029

2,000‌

1,896‌

Healthcare

Realty

Holdings

LP

2.40%,

03/15/2030

9,000‌

7,232‌

3.63%,

01/15/2028

3,500‌

3,174‌

3.88%,

05/01/2025

5,000‌

4,803‌

Healthpeak

Properties

Inc

2.88%,

01/15/2031

7,000‌

6,083‌

3.00%,

01/15/2030

50,000‌

44,420‌

5.25%,

12/15/2032

14,000‌

14,278‌

Omega

Healthcare

Investors

Inc

3.38%,

02/01/2031

46,000‌

37,219‌

3.63%,

10/01/2029

32,000‌

27,643‌

4.75%,

01/15/2028

7,000‌

6,721‌

5.25%,

01/15/2026

8,000‌

7,952‌

Schedule

of

Investments

Core

Fixed

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

9

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

REITs

(continued)

Physicians

Realty

LP

2.63%,

11/01/2031

$

32,000‌

$

26,661‌

4.30%,

03/15/2027

22,400‌

21,687‌

Prologis

LP

2.88%,

11/15/2029

12,500‌

11,240‌

3.25%,

06/30/2026

5,000‌

4,819‌

3.38%,

12/15/2027

25,000‌

23,955‌

SBA

Tower

Trust

1.63%,

05/15/2051

(g)

46,000‌

40,169‌

2.33%,

07/15/2052

(g)

10,000‌

8,546‌

2.59%,

10/15/2056

(g)

20,500‌

16,533‌

2.84%,

01/15/2050

(g)

30,000‌

28,360‌

Simon

Property

Group

LP

2.00%,

09/13/2024

32,000‌

30,658‌

STORE

Capital

Corp

2.75%,

11/18/2030

18,500‌

14,456‌

4.63%,

03/15/2029

33,500‌

30,648‌

Ventas

Realty

LP

3.00%,

01/15/2030

8,000‌

6,987‌

3.85%,

04/01/2027

21,000‌

20,247‌

Welltower

OP

LLC

2.70%,

02/15/2027

12,000‌

11,004‌

2.75%,

01/15/2031

7,000‌

5,872‌

3.10%,

01/15/2030

23,000‌

20,092‌

4.13%,

03/15/2029

6,000‌

5,659‌

4.25%,

04/15/2028

4,000‌

3,859‌

4.50%,

01/15/2024

5,000‌

4,968‌

Weyerhaeuser

Co

7.38%,

03/15/2032

11,281‌

13,027‌

WP

Carey

Inc

2.40%,

02/01/2031

21,000‌

17,608‌

3.85%,

07/15/2029

30,000‌

28,054‌

$

842,542‌

Semiconductors

-

0

.39

%

NVIDIA

Corp

2.00%,

06/15/2031

19,000‌

15,901‌

2.85%,

04/01/2030

14,000‌

12,725‌

3.50%,

04/01/2040

13,000‌

11,295‌

$

39,921‌

Software

-

0

.25

%

Oracle

Corp

2.95%,

05/15/2025

25,900‌

24,880‌

Telecommunications

-

1

.56

%

Corning

Inc

4.75%,

03/15/2042

4,650‌

4,402‌

5.45%,

11/15/2079

43,500‌

41,738‌

Crown

Castle

Towers

LLC

4.24%,

07/15/2048

(g)

16,000‌

14,905‌

Sprint

LLC

7.88%,

09/15/2023

7,750‌

7,865‌

Sprint

Spectrum

Co

LLC

/

Sprint

Spectrum

Co

II

LLC

/

Sprint

Spectrum

Co

III

LLC

5.15%,

03/20/2028

(g)

34,500‌

34,440‌

T-Mobile

USA

Inc

2.05%,

02/15/2028

10,000‌

8,808‌

2.55%,

02/15/2031

20,000‌

16,979‌

3.00%,

02/15/2041

39,000‌

29,083‌

$

158,220‌

Transportation

-

0

.70

%

Ryder

System

Inc

2.90%,

12/01/2026

51,000‌

47,216‌

3.35%,

09/01/2025

25,000‌

23,950‌

$

71,166‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Trucking

&

Leasing

-

0

.98

%

Penske

Truck

Leasing

Co

Lp

/

PTL

Finance

Corp

1.20%,

11/15/2025

(g)

$

22,000‌

$

19,693‌

1.70%,

06/15/2026

(g)

39,000‌

34,700‌

2.70%,

11/01/2024

(g)

28,000‌

26,699‌

3.45%,

07/01/2024

(g)

9,000‌

8,742‌

5.70%,

02/01/2028

(g)

10,000‌

10,253‌

$

100,087‌

TOTAL

BONDS

$

5,336,514‌

SENIOR

FLOATING

RATE

INTERESTS

-

0

.08

%

Principal

Amount

(000's)

Value

(000's)

Pipelines

-

0

.08

%

BCP

Renaissance

Parent

LLC

8.06%,

10/31/2026

(m)

$

8,415‌

$

8,391‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.50%

TOTAL

SENIOR

FLOATING

RATE

INTERESTS

$

8,391‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

42

.35

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

0

.42

%

3.00%,

10/01/2042

$

4,488‌

$

4,225‌

3.00%,

10/01/2042

4,332‌

4,079‌

3.00%,

11/01/2042

4,736‌

4,458‌

3.00%,

06/01/2043

4,408‌

4,150‌

3.00%,

12/01/2046

7,516‌

6,982‌

3.00%,

07/01/2047

5,363‌

4,964‌

3.50%,

03/01/2048

8,420‌

8,097‌

4.00%,

02/01/2046

5,393‌

5,321‌

9.00%,

01/01/2025

1‌

1‌

$

42,277‌

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

21

.22

%

2.00%,

10/01/2050

37,840‌

32,361‌

2.00%,

11/01/2050

37,373‌

32,079‌

2.00%,

12/01/2050

43,284‌

36,696‌

2.00%,

12/01/2050

43,190‌

36,617‌

2.50%,

09/01/2050

38,063‌

33,661‌

2.50%,

10/01/2050

38,011‌

33,602‌

2.50%,

10/01/2050

39,171‌

34,590‌

2.50%,

10/01/2050

37,911‌

33,493‌

2.50%,

11/01/2050

39,163‌

34,635‌

2.50%,

11/01/2050

37,300‌

32,994‌

2.50%,

11/01/2050

37,067‌

32,783‌

2.50%,

11/01/2050

37,881‌

33,534‌

2.50%,

11/01/2050

39,619‌

35,033‌

3.00%,

06/01/2042

15,014‌

14,121‌

3.00%,

08/01/2049

19,290‌

17,795‌

3.00%,

09/01/2049

13,887‌

12,760‌

3.00%,

10/01/2049

14,596‌

13,434‌

3.00%,

10/01/2049

20,790‌

19,133‌

3.00%,

10/01/2049

18,173‌

16,726‌

3.00%,

11/01/2049

17,672‌

16,265‌

3.00%,

11/01/2049

14,349‌

13,275‌

3.00%,

11/01/2049

21,291‌

19,594‌

3.00%,

03/01/2050

20,947‌

19,279‌

3.00%,

04/01/2050

22,977‌

21,146‌

3.00%,

09/01/2050

25,341‌

23,264‌

3.00%,

05/01/2052

19,274‌

17,678‌

3.50%,

12/01/2040

2,227‌

2,149‌

3.50%,

06/01/2045

5,643‌

5,417‌

3.50%,

06/01/2046

15,481‌

14,939‌

3.50%,

08/01/2047

8,301‌

7,940‌

3.50%,

09/01/2047

35,493‌

33,501‌

3.50%,

12/01/2047

8,661‌

8,276‌

3.50%,

06/01/2049

5,854‌

5,575‌

3.50%,

06/01/2049

32,375‌

30,886‌

3.50%,

07/01/2049

11,552‌

10,986‌

3.50%,

09/01/2049

31,083‌

29,616‌

3.50%,

09/01/2049

9,767‌

9,281‌

Schedule

of

Investments

Core

Fixed

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

10

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.50%,

09/01/2049

$

9,924‌

$

9,437‌

3.50%,

11/01/2049

13,015‌

12,361‌

3.50%,

11/01/2049

14,946‌

14,347‌

3.50%,

12/01/2049

15,147‌

14,385‌

3.50%,

01/01/2050

42,043‌

39,954‌

3.50%,

02/01/2050

25,848‌

24,520‌

3.50%,

06/01/2050

26,159‌

24,872‌

3.50%,

08/01/2050

34,932‌

33,275‌

3.50%,

10/01/2050

33,185‌

31,352‌

3.50%,

01/01/2051

35,179‌

33,427‌

3.50%,

01/01/2051

24,215‌

22,962‌

3.50%,

04/01/2052

53,655‌

50,534‌

3.50%,

04/01/2052

38,329‌

36,050‌

4.00%,

11/01/2043

4,210‌

4,177‌

4.00%,

02/01/2044

9,293‌

9,210‌

4.00%,

09/01/2045

6,655‌

6,516‌

4.00%,

06/01/2046

12,741‌

12,556‌

4.00%,

10/01/2047

34,437‌

33,818‌

4.00%,

09/01/2048

5,483‌

5,376‌

4.00%,

10/01/2048

9,900‌

9,729‌

4.00%,

03/01/2049

27,599‌

27,035‌

4.00%,

04/01/2049

30,660‌

30,035‌

4.00%,

06/01/2049

47,410‌

46,548‌

4.00%,

07/01/2049

7,195‌

7,040‌

4.00%,

08/01/2049

34,263‌

33,608‌

4.00%,

09/01/2049

6,441‌

6,326‌

4.00%,

10/01/2049

15,649‌

15,287‌

4.00%,

12/01/2049

27,899‌

27,494‌

4.00%,

01/01/2050

22,456‌

21,916‌

4.00%,

07/01/2050

49,099‌

48,145‌

4.00%,

02/01/2052

41,242‌

39,866‌

4.00%,

02/01/2052

49,239‌

47,978‌

4.00%,

02/01/2052

42,877‌

41,460‌

4.00%,

05/01/2052

48,414‌

47,017‌

4.00%,

05/01/2052

45,609‌

44,050‌

4.00%,

06/01/2052

39,976‌

38,878‌

4.50%,

06/01/2046

15,081‌

15,326‌

4.50%,

02/01/2049

7,140‌

7,163‌

4.50%,

07/01/2052

19,399‌

19,313‌

4.50%,

08/01/2052

41,999‌

41,839‌

4.50%,

09/01/2052

42,193‌

42,215‌

4.50%,

09/01/2052

41,152‌

40,970‌

4.50%,

09/01/2052

41,198‌

40,952‌

4.50%,

10/01/2052

41,002‌

40,820‌

4.50%,

10/01/2052

25,746‌

25,648‌

4.50%,

11/01/2052

42,791‌

42,535‌

5.00%,

10/01/2052

25,111‌

25,436‌

5.00%,

10/01/2052

39,404‌

39,914‌

6.50%,

04/01/2032

1‌

1‌

$

2,158,787‌

Government

National

Mortgage

Association

(GNMA)

-

0

.13

%

3.00%,

02/20/2046

14,165‌

13,270‌

U.S.

Treasury

-

20

.58

%

0.63%,

08/15/2030

40,000‌

32,567‌

0.88%,

11/15/2030

40,000‌

33,059‌

1.13%,

02/28/2025

40,000‌

37,613‌

1.13%,

02/28/2027

40,000‌

36,183‌

1.13%,

08/15/2040

55,000‌

36,493‌

1.25%,

08/31/2024

40,000‌

38,064‌

1.25%,

08/15/2031

45,000‌

37,760‌

1.25%,

05/15/2050

65,000‌

38,195‌

1.38%,

08/31/2023

40,000‌

39,237‌

1.38%,

11/15/2031

45,000‌

37,939‌

1.38%,

08/15/2050

65,000‌

39,409‌

1.50%,

03/31/2023

40,000‌

39,800‌

1.50%,

08/15/2026

40,000‌

37,003‌

1.50%,

02/15/2030

40,000‌

35,112‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

U.S.

Treasury

(continued)

1.63%,

04/30/2023

$

40,000‌

$

39,698‌

1.63%,

02/15/2026

40,000‌

37,445‌

1.63%,

08/15/2029

40,000‌

35,625‌

1.63%,

11/15/2050

60,000‌

38,808‌

1.75%,

11/15/2029

40,000‌

35,852‌

1.75%,

08/15/2041

50,000‌

36,426‌

1.88%,

02/15/2032

45,000‌

39,486‌

1.88%,

02/15/2051

55,000‌

37,892‌

1.88%,

11/15/2051

55,000‌

37,752‌

2.00%,

11/15/2026

40,000‌

37,539‌

2.00%,

02/15/2050

55,000‌

39,280‌

2.00%,

08/15/2051

55,000‌

38,996‌

2.13%,

05/15/2025

40,000‌

38,306‌

2.25%,

11/15/2024

40,000‌

38,594‌

2.25%,

08/15/2027

40,000‌

37,683‌

2.25%,

11/15/2027

40,000‌

37,586‌

2.25%,

08/15/2046

50,000‌

38,178‌

2.25%,

08/15/2049

50,000‌

37,883‌

2.25%,

02/15/2052

50,000‌

37,566‌

2.38%,

02/29/2024

40,000‌

39,014‌

2.38%,

05/15/2051

50,000‌

38,717‌

2.63%,

02/28/2023

40,000‌

39,940‌

2.63%,

02/15/2029

40,000‌

37,880‌

2.75%,

05/31/2023

40,000‌

39,728‌

2.75%,

11/15/2023

40,000‌

39,381‌

2.75%,

02/15/2028

40,000‌

38,395‌

2.75%,

08/15/2032

40,000‌

37,638‌

2.75%,

08/15/2042

40,000‌

34,272‌

2.75%,

08/15/2047

45,000‌

37,800‌

2.88%,

08/15/2028

40,000‌

38,500‌

2.88%,

05/15/2049

45,000‌

38,844‌

2.88%,

05/15/2052

45,000‌

38,777‌

3.00%,

09/30/2025

40,000‌

39,022‌

3.00%,

11/15/2045

45,000‌

39,570‌

3.00%,

08/15/2048

45,000‌

39,672‌

3.00%,

08/15/2052

45,000‌

39,818‌

3.13%,

11/15/2028

40,000‌

38,978‌

3.63%,

02/15/2044

40,000‌

39,036‌

3.75%,

11/15/2043

40,000‌

39,817‌

4.00%,

11/15/2052

40,000‌

42,775‌

4.13%,

11/15/2032

35,000‌

36,821‌

$

2,093,424‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

4,307,758‌

Total

Investments

$

10,139,657‌

Other

Assets

and

Liabilities

-  0.31%

31,659‌

TOTAL

NET

ASSETS

-

100.00%

$

10,171,316‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$10,282

or

0.10%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(f)

Restricted

Security.

Please

see

Restricted

Securities

sub-schedule

for

additional

information.

(g)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$773,180

or

7.60%

of

net

assets.

Schedule

of

Investments

Core

Fixed

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

11

(h)

Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(i)

Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(j)

Security

purchased

on

a

when-issued

basis.

(k)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$9,893

or

0.10%

of

net

assets.

(l)

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(m)

Rate

information

disclosed

is

based

on

an

average

weighted

rate

of

the

underlying

tranches

as

of

period

end.

Portfolio

Summary  (unaudited)

Sector

Percent

Mortgage

Securities

21

.77‌

%

Financial

21

.46‌

%

Government

20

.58‌

%

Utilities

8

.08‌

%

Asset

Backed

Securities

4

.56‌

%

Consumer,

Non-cyclical

4

.43‌

%

Money

Market

Funds

4

.34‌

%

Communications

3

.96‌

%

Energy

3

.32‌

%

Industrial

2

.90‌

%

Consumer,

Cyclical

2

.00‌

%

Technology

1

.54‌

%

Basic

Materials

0

.75‌

%

Other

Assets

and

Liabilities

0

.31‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

724,807‌

$

285,549‌

$

439,258‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

239,007‌

379,839‌

618,846‌

—‌

$

239,007‌

$

1,104,646‌

$

904,395‌

$

439,258‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

1,935‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

1,238‌

—‌

—‌

—‌

$

3,173‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Restricted

Securities

Security

Name

Acquisition

Date

Cost

Value

Percent

of

Net

Assets

Trailer

Bridge

Inc

05/07/2012-05/28/2019

$

21,314‌

$

20,883‌

0.21%

Total

$

20,883‌

0.21%

Amounts

in

thousands.

Schedule

of

Investments

Core

Plus

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

12

INVESTMENT

COMPANIES

-

2

.90

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

2

.90

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

2,534,954‌

$

2,535‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(c)

15,539,219‌

15,539‌

$

18,074‌

TOTAL

INVESTMENT

COMPANIES

$

18,074‌

COMMON

STOCKS

-

0

.02

%

Shares

Held

Value

(000's)

Diversified

Financial

Services

-

0

.00

%

Avation

PLC

-

Warrants

(d)

3,500‌

$

1‌

Oil

&

Gas

-

0

.00

%

Mesquite

Energy

Inc

(d),(e)

407‌

10‌

Retail

-

0

.02

%

Claire's

Holdings

LLC

(d)

232‌

106‌

TOTAL

COMMON

STOCKS

$

117‌

PREFERRED

STOCKS

-

0

.56

%

Shares

Held

Value

(000's)

Sovereign

-

0

.56

%

CoBank

ACB

6.20%,

01/01/2025

(f)

35,000‌

$

3,465‌

3

Month

USD

LIBOR

+

3.74%

TOTAL

PREFERRED

STOCKS

$

3,465‌

BONDS

-

49

.29

%

Principal

Amount

(000's)

Value

(000's)

Aerospace

&

Defense

-

1

.56

%

Boeing

Co/The

1.95%,

02/01/2024

$

3,190‌

$

3,093‌

2.20%,

02/04/2026

1,780‌

1,646‌

3.75%,

02/01/2050

625‌

481‌

4.88%,

05/01/2025

845‌

845‌

Bombardier

Inc

7.13%,

06/15/2026

(g)

80‌

80‌

7.50%,

03/15/2025

(g)

103‌

103‌

Lockheed

Martin

Corp

5.70%,

11/15/2054

455‌

517‌

Raytheon

Technologies

Corp

4.13%,

11/16/2028

1,700‌

1,668‌

TransDigm

Inc

4.88%,

05/01/2029

205‌

185‌

6.25%,

03/15/2026

(g)

40‌

40‌

7.50%,

03/15/2027

275‌

277‌

8.00%,

12/15/2025

(g)

210‌

214‌

Triumph

Group

Inc

7.75%,

08/15/2025

165‌

140‌

8.88%,

06/01/2024

(g)

445‌

452‌

$

9,741‌

Agriculture

-

0

.24

%

Cargill

Inc

4.88%,

10/10/2025

(g)

865‌

870‌

Reynolds

American

Inc

5.70%,

08/15/2035

635‌

608‌

$

1,478‌

Airlines

-

0

.34

%

American

Airlines

2021-1

Class

B

Pass

Through

Trust

3.95%,

01/11/2032

62‌

52‌

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd

5.75%,

04/20/2029

(g)

75‌

73‌

Delta

Air

Lines

Inc

/

SkyMiles

IP

Ltd

4.50%,

10/20/2025

(g)

785‌

776‌

Hawaiian

Brand

Intellectual

Property

Ltd

/

HawaiianMiles

Loyalty

Ltd

5.75%,

01/20/2026

(g)

525‌

501‌

Southwest

Airlines

Co

5.25%,

05/04/2025

605‌

609‌

United

Airlines

Inc

4.38%,

04/15/2026

(g)

135‌

128‌

$

2,139‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Automobile

Asset

Backed

Securities

-

4

.18

%

Ally

Auto

Receivables

Trust

2022-2

4.62%,

10/15/2025

$

2,615‌

$

2,605‌

AmeriCredit

Automobile

Receivables

Trust

2022-2

5.45%,

12/18/2025

2,493‌

2,499‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

1.15%

Capital

One

Prime

Auto

Receivables

Trust

2021-1

0.32%,

02/18/2025

693‌

686‌

Capital

One

Prime

Auto

Receivables

Trust

2022-1

2.71%,

06/16/2025

1,460‌

1,442‌

Carmax

Auto

Owner

Trust

2020-1

1.89%,

12/16/2024

865‌

856‌

CarMax

Auto

Owner

Trust

2021-4

0.24%,

11/15/2024

167‌

166‌

CarMax

Auto

Owner

Trust

2022-1

0.91%,

02/18/2025

811‌

802‌

Carvana

Auto

Receivables

Trust

2021-P3

0.38%,

01/10/2025

246‌

244‌

Carvana

Auto

Receivables

Trust

2021-P4

0.82%,

04/10/2025

439‌

435‌

Ford

Credit

Auto

Owner

Trust

2022-C

4.80%,

04/15/2025

2,790‌

2,790‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.52%

GM

Financial

Consumer

Automobile

Receivables

Trust

2021-4

0.28%,

11/18/2024

495‌

490‌

GM

Financial

Consumer

Automobile

Receivables

Trust

2023-1

5.19%,

03/16/2026

905‌

906‌

Hyundai

Auto

Lease

Securitization

Trust

2022-B

4.90%,

10/15/2024

(g)

991‌

991‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.62%

Nissan

Auto

Lease

Trust

2021-A

0.30%,

12/15/2023

239‌

238‌

Nissan

Auto

Receivables

2022-B

Owner

Trust

4.50%,

08/15/2025

2,090‌

2,081‌

Santander

Drive

Auto

Receivables

Trust

2022-3

2.76%,

03/17/2025

674‌

671‌

Santander

Drive

Auto

Receivables

Trust

2022-6

4.37%,

05/15/2025

2,435‌

2,426‌

Santander

Drive

Auto

Receivables

Trust

2022-7

5.81%,

01/15/2026

1,445‌

1,450‌

Santander

Drive

Auto

Receivables

Trust

2023-1

5.36%,

05/15/2026

2,130‌

2,130‌

Toyota

Auto

Receivables

2022-B

Owner

Trust

4.77%,

01/15/2025

1,134‌

1,134‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

0.49%

World

Omni

Auto

Receivables

Trust

2021-A

0.30%,

01/15/2026

971‌

937‌

World

Omni

Select

Auto

Trust

2021-A

0.29%,

02/18/2025

25‌

25‌

$

26,004‌

Automobile

Manufacturers

-

1

.11

%

Ford

Motor

Co

3.25%,

02/12/2032

845‌

671‌

9.63%,

04/22/2030

40‌

47‌

Ford

Motor

Credit

Co

LLC

3.38%,

11/13/2025

470‌

438‌

General

Motors

Co

4.88%,

10/02/2023

1,565‌

1,561‌

General

Motors

Financial

Co

Inc

1.20%,

10/15/2024

475‌

444‌

1.25%,

01/08/2026

1,100‌

986‌

Schedule

of

Investments

Core

Plus

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

13

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Automobile

Manufacturers

(continued)

Mercedes-Benz

Finance

North

America

LLC

5.50%,

11/27/2024

(g)

$

2,750‌

$

2,788‌

$

6,935‌

Automobile

Parts

&

Equipment

-

0

.02

%

Dana

Inc

5.38%,

11/15/2027

155‌

147‌

Banks

-

8

.25

%

Banco

Santander

SA

2.75%,

05/28/2025

1,600‌

1,509‌

Bank

of

America

Corp

1.66%,

03/11/2027

(h)

1,250‌

1,129‌

Secured

Overnight

Financing

Rate

+

0.91%

2.48%,

09/21/2036

(h)

2,600‌

2,028‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.20%

2.68%,

06/19/2041

(h)

1,635‌

1,205‌

Secured

Overnight

Financing

Rate

+

1.93%

2.69%,

04/22/2032

(h)

861‌

727‌

Secured

Overnight

Financing

Rate

+

1.32%

3.85%,

03/08/2037

(h)

200‌

174‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.00%

4.18%,

11/25/2027

750‌

736‌

4.20%,

08/26/2024

435‌

430‌

4.83%,

07/22/2026

(h)

1,000‌

998‌

Secured

Overnight

Financing

Rate

+

1.75%

Barclays

PLC

2.28%,

11/24/2027

(h)

500‌

448‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.05%

2.85%,

05/07/2026

(h)

1,100‌

1,040‌

Secured

Overnight

Financing

Rate

+

2.71%

5.20%,

05/12/2026

500‌

498‌

7.75%,

09/15/2023

(f),(h),(i)

505‌

501‌

USD

Swap

Semi-Annual

5

Year

+

4.84%

BNP

Paribas

SA

2.22%,

06/09/2026

(g),(h)

800‌

746‌

Secured

Overnight

Financing

Rate

+

2.07%

Citigroup

Inc

3.11%,

04/08/2026

(h)

1,125‌

1,079‌

Secured

Overnight

Financing

Rate

+

2.84%

3.20%,

10/21/2026

650‌

616‌

3.79%,

03/17/2033

(h)

1,275‌

1,155‌

Secured

Overnight

Financing

Rate

+

1.94%

5.61%,

09/29/2026

(h)

1,195‌

1,214‌

Secured

Overnight

Financing

Rate

+

1.55%

6.27%,

11/17/2033

(h)

1,350‌

1,470‌

Secured

Overnight

Financing

Rate

+

2.34%

Credit

Suisse

AG/New

York

NY

2.95%,

04/09/2025

2,585‌

2,387‌

Credit

Suisse

Group

AG

2.19%,

06/05/2026

(g),(h)

1,500‌

1,318‌

Secured

Overnight

Financing

Rate

+

2.04%

3.09%,

05/14/2032

(g),(h)

250‌

189‌

Secured

Overnight

Financing

Rate

+

1.73%

4.88%,

05/15/2045

375‌

310‌

9.02%,

11/15/2033

(g),(h)

500‌

562‌

Secured

Overnight

Financing

Rate

+

5.02%

Deutsche

Bank

AG/New

York

NY

2.22%,

09/18/2024

(h)

1,700‌

1,664‌

Secured

Overnight

Financing

Rate

+

2.16%

2.55%,

01/07/2028

(h)

173‌

154‌

Secured

Overnight

Financing

Rate

+

1.32%

Goldman

Sachs

Group

Inc/The

3.63%,

02/20/2024

1,425‌

1,405‌

3.85%,

01/26/2027

2,403‌

2,322‌

5.70%,

11/01/2024

315‌

320‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

HSBC

Holdings

PLC

4.25%,

03/14/2024

$

840‌

$

832‌

JPMorgan

Chase

&

Co

2.08%,

04/22/2026

(h)

1,435‌

1,348‌

Secured

Overnight

Financing

Rate

+

1.85%

4.60%,

02/01/2025

(f),(h)

630‌

592‌

Secured

Overnight

Financing

Rate

+

3.13%

4.91%,

07/25/2033

(h)

2,055‌

2,048‌

Secured

Overnight

Financing

Rate

+

2.08%

KeyBank

NA/Cleveland

OH

4.15%,

08/08/2025

250‌

247‌

Lloyds

Banking

Group

PLC

3.87%,

07/09/2025

(h)

1,900‌

1,861‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

3.50%

Morgan

Stanley

0.99%,

12/10/2026

(h)

4,490‌

3,995‌

Secured

Overnight

Financing

Rate

+

0.72%

2.48%,

09/16/2036

(h)

1,140‌

884‌

Secured

Overnight

Financing

Rate

+

1.36%

4.35%,

09/08/2026

2,000‌

1,961‌

5.00%,

11/24/2025

995‌

1,001‌

Popular

Inc

6.13%,

09/14/2023

145‌

145‌

Santander

UK

Group

Holdings

PLC

1.09%,

03/15/2025

(h)

1,175‌

1,115‌

Secured

Overnight

Financing

Rate

+

0.79%

Standard

Chartered

PLC

2.82%,

01/30/2026

(g),(h)

430‌

407‌

3

Month

USD

LIBOR

+

1.21%

State

Street

Corp

4.82%,

01/26/2034

(h)

270‌

271‌

Secured

Overnight

Financing

Rate

+

1.57%

Toronto-Dominion

Bank/The

4.69%,

09/15/2027

1,000‌

1,005‌

Truist

Financial

Corp

5.90%,

10/28/2026

(h)

560‌

577‌

Secured

Overnight

Financing

Rate

+

1.63%

UBS

Group

AG

1.36%,

01/30/2027

(g),(h)

460‌

412‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.08%

4.75%,

05/12/2028

(g),(h)

320‌

315‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.75%

UniCredit

SpA

1.98%,

06/03/2027

(g),(h)

600‌

529‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.20%

Wells

Fargo

&

Co

3.75%,

01/24/2024

500‌

495‌

4.61%,

04/25/2053

(h)

985‌

919‌

Secured

Overnight

Financing

Rate

+

2.13%

4.90%,

07/25/2033

(h)

45‌

45‌

Secured

Overnight

Financing

Rate

+

2.10%

Westpac

Banking

Corp

4.11%,

07/24/2034

(h)

125‌

113‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.00%

4.42%,

07/24/2039

2,160‌

1,880‌

$

51,331‌

Beverages

-

0

.93

%

Anheuser-Busch

InBev

Worldwide

Inc

4.38%,

04/15/2038

1,260‌

1,195‌

4.60%,

04/15/2048

955‌

903‌

Schedule

of

Investments

Core

Plus

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

14

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Beverages

(continued)

Central

American

Bottling

Corp

/

CBC

Bottling

Holdco

SL

/

Beliv

Holdco

SL

5.25%,

04/27/2029

(g)

$

215‌

$

206‌

Coca-Cola

Icecek

AS

4.50%,

01/20/2029

(g)

450‌

393‌

Constellation

Brands

Inc

3.70%,

12/06/2026

2,140‌

2,067‌

PepsiCo

Inc

1.95%,

10/21/2031

500‌

419‌

3.60%,

02/18/2028

500‌

489‌

4.20%,

07/18/2052

(j)

140‌

135‌

$

5,807‌

Biotechnology

-

0

.16

%

CSL

Finance

PLC

4.75%,

04/27/2052

(g)

1,040‌

1,013‌

Building

Materials

-

0

.30

%

Builders

FirstSource

Inc

4.25%,

02/01/2032

(g)

605‌

520‌

Cemex

SAB

de

CV

3.88%,

07/11/2031

(g)

350‌

295‌

GCC

SAB

de

CV

3.61%,

04/20/2032

(g)

300‌

255‌

Smyrna

Ready

Mix

Concrete

LLC

6.00%,

11/01/2028

(g)

855‌

781‌

$

1,851‌

Chemicals

-

0

.55

%

Braskem

Netherlands

Finance

BV

4.50%,

01/31/2030

(g)

250‌

220‌

Consolidated

Energy

Finance

SA

5.63%,

10/15/2028

(g)

790‌

687‌

6.50%,

05/15/2026

(g)

150‌

139‌

Ecolab

Inc

2.70%,

12/15/2051

1,070‌

725‌

Element

Solutions

Inc

3.88%,

09/01/2028

(g)

582‌

515‌

MEGlobal

Canada

ULC

5.88%,

05/18/2030

350‌

362‌

Olympus

Water

US

Holding

Corp

4.25%,

10/01/2028

(g)

605‌

508‌

Sherwin-Williams

Co/The

4.25%,

08/08/2025

300‌

296‌

$

3,452‌

Commercial

Mortgage

Backed

Securities

-

1

.70

%

Benchmark

2021-B25

Mortgage

Trust

2.58%,

04/15/2054

500‌

427‌

Citigroup

Commercial

Mortgage

Trust

2019-C7

3.10%,

12/15/2072

1,500‌

1,347‌

COMM

2013-CCRE6

Mortgage

Trust

4.04%,

03/10/2046

(g),(k)

500‌

375‌

GS

Mortgage

Securities

Trust

2013-GC16

5.31%,

11/10/2046

(k)

800‌

776‌

GS

Mortgage

Securities

Trust

2020-GSA2

2.01%,

12/12/2053

3,600‌

2,957‌

JPMBB

Commercial

Mortgage

Securities

Trust

2014-C18

4.74%,

02/15/2047

(k)

2,700‌

2,483‌

JPMBB

Commercial

Mortgage

Securities

Trust

2014-C19

0.62%,

04/15/2047

(k),(l)

17,919‌

86‌

JPMBB

Commercial

Mortgage

Securities

Trust

2014-C24

0.86%,

11/15/2047

(k),(l)

6,945‌

68‌

LB-UBS

Commercial

Mortgage

Trust

2005-C3

0.57%,

07/15/2040

(g),(k),(l)

971‌

—‌

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2013-C11

0.27%,

08/15/2046

(k),(l)

13,055‌

2‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Mortgage

Backed

Securities

(continued)

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2014-C16

0.91%,

06/15/2047

(k),(l)

$

15,894‌

$

98‌

MSBAM

Commercial

Mortgage

Securities

Trust

2012-CKSV

1.00%,

10/15/2030

(g),(k),(l)

20,362‌

—‌

SREIT

Trust

2021-MFP

5.19%,

11/15/2038

(g)

1,000‌

975‌

1.00

x

1

Month

USD

LIBOR

+

0.73%

SREIT

Trust

2021-MFP2

5.28%,

11/15/2036

(g)

1,000‌

978‌

1.00

x

1

Month

USD

LIBOR

+

0.82%

$

10,572‌

Commercial

Services

-

0

.74

%

Albion

Financing

1

SARL

/

Aggreko

Holdings

Inc

6.13%,

10/15/2026

(g)

395‌

354‌

DP

World

Ltd/United

Arab

Emirates

6.85%,

07/02/2037

300‌

339‌

Garda

World

Security

Corp

4.63%,

02/15/2027

(g)

130‌

118‌

PayPal

Holdings

Inc

3.25%,

06/01/2050

900‌

669‌

3.90%,

06/01/2027

(j)

800‌

787‌

Prime

Security

Services

Borrower

LLC

/

Prime

Finance

Inc

3.38%,

08/31/2027

(g)

320‌

284‌

6.25%,

01/15/2028

(g)

315‌

299‌

United

Rentals

North

America

Inc

3.88%,

02/15/2031

215‌

189‌

4.88%,

01/15/2028

404‌

391‌

WASH

Multifamily

Acquisition

Inc

5.75%,

04/15/2026

(g)

600‌

554‌

Williams

Scotsman

International

Inc

6.13%,

06/15/2025

(g)

201‌

202‌

ZipRecruiter

Inc

5.00%,

01/15/2030

(g)

485‌

422‌

$

4,608‌

Computers

-

0

.44

%

Dell

International

LLC

/

EMC

Corp

3.38%,

12/15/2041

(g)

1,000‌

720‌

6.10%,

07/15/2027

1,220‌

1,279‌

NCR

Corp

5.13%,

04/15/2029

(g)

595‌

518‌

Seagate

HDD

Cayman

9.63%,

12/01/2032

(g)

189‌

214‌

$

2,731‌

Consumer

Products

-

0

.10

%

Kronos

Acquisition

Holdings

Inc

/

KIK

Custom

Products

Inc

5.00%,

12/31/2026

(g)

665‌

604‌

Credit

Card

Asset

Backed

Securities

-

0

.34

%

BA

Credit

Card

Trust

0.34%,

05/15/2026

2,185‌

2,101‌

Diversified

Financial

Services

-

2

.51

%

AerCap

Holdings

NV

5.88%,

10/10/2079

(h)

505‌

484‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.54%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

2.45%,

10/29/2026

1,275‌

1,147‌

3.00%,

10/29/2028

1,345‌

1,186‌

3.15%,

02/15/2024

2,825‌

2,754‌

4.50%,

09/15/2023

1,100‌

1,094‌

Air

Lease

Corp

1.88%,

08/15/2026

1,325‌

1,181‌

2.88%,

01/15/2026

1,195‌

1,121‌

Schedule

of

Investments

Core

Plus

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

15

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Diversified

Financial

Services

(continued)

Ally

Financial

Inc

5.80%,

05/01/2025

$

505‌

$

511‌

Aviation

Capital

Group

LLC

1.95%,

09/20/2026

(g)

2,850‌

2,474‌

Brookfield

Finance

Inc

4.00%,

04/01/2024

685‌

677‌

Credit

Acceptance

Corp

5.13%,

12/31/2024

(g)

330‌

308‌

6.63%,

03/15/2026

(j)

555‌

508‌

Global

Aircraft

Leasing

Co

Ltd

6.50%,

PIK

7.25%;

09/15/2024

(g),(k),(m)

612‌

558‌

ILFC

E-Capital

Trust

II

6.54%,

12/21/2065

(g),(k)

155‌

103‌

LPL

Holdings

Inc

4.00%,

03/15/2029

(g)

275‌

246‌

OneMain

Finance

Corp

4.00%,

09/15/2030

120‌

96‌

5.63%,

03/15/2023

120‌

120‌

6.63%,

01/15/2028

365‌

356‌

6.88%,

03/15/2025

460‌

458‌

SLM

Corp

3.13%,

11/02/2026

290‌

256‌

$

15,638‌

Electric

-

2

.50

%

Ameren

Illinois

Co

3.85%,

09/01/2032

189‌

181‌

Avangrid

Inc

3.20%,

04/15/2025

1,115‌

1,072‌

Clearway

Energy

Operating

LLC

3.75%,

02/15/2031

(g)

140‌

118‌

3.75%,

01/15/2032

(g)

130‌

107‌

4.75%,

03/15/2028

(g)

170‌

160‌

CMS

Energy

Corp

3.00%,

05/15/2026

275‌

260‌

4.70%,

03/31/2043

110‌

98‌

Colbun

SA

3.15%,

01/19/2032

(g)

300‌

258‌

Commonwealth

Edison

Co

4.00%,

03/01/2049

405‌

351‌

DTE

Electric

Co

3.65%,

03/01/2052

135‌

112‌

3.95%,

03/01/2049

100‌

87‌

DTE

Energy

Co

4.22%,

11/01/2024

(k)

1,000‌

988‌

Duke

Energy

Carolinas

LLC

3.55%,

03/15/2052

225‌

182‌

Edison

International

4.70%,

08/15/2025

432‌

426‌

Elwood

Energy

LLC

8.16%,

07/05/2026

31‌

27‌

Enel

Chile

SA

4.88%,

06/12/2028

405‌

398‌

FirstEnergy

Corp

2.25%,

09/01/2030

640‌

526‌

Florida

Power

&

Light

Co

4.05%,

10/01/2044

461‌

417‌

Inversiones

Latin

America

Power

Ltda

5.13%,

06/15/2033

(g)

387‌

168‌

ITC

Holdings

Corp

4.95%,

09/22/2027

(g)

470‌

475‌

Korea

Electric

Power

Corp

5.38%,

04/06/2026

(g)

250‌

252‌

Monongahela

Power

Co

3.55%,

05/15/2027

(g)

715‌

684‌

National

Rural

Utilities

Cooperative

Finance

Corp

5.45%,

10/30/2025

360‌

367‌

NextEra

Energy

Capital

Holdings

Inc

4.45%,

06/20/2025

400‌

398‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electric

(continued)

NextEra

Energy

Operating

Partners

LP

4.25%,

07/15/2024

(g)

$

65‌

$

63‌

NRG

Energy

Inc

3.88%,

02/15/2032

(g)

610‌

475‌

NSTAR

Electric

Co

4.95%,

09/15/2052

45‌

46‌

Oncor

Electric

Delivery

Co

LLC

4.95%,

09/15/2052

160‌

163‌

Oryx

Funding

Ltd

5.80%,

02/03/2031

(g)

350‌

344‌

5.80%,

02/03/2031

200‌

197‌

Pacific

Gas

and

Electric

Co

1.70%,

11/15/2023

50‌

49‌

4.20%,

06/01/2041

535‌

423‌

PECO

Energy

Co

4.38%,

08/15/2052

248‌

235‌

Perusahaan

Perseroan

Persero

PT

Perusahaan

Listrik

Negara

3.88%,

07/17/2029

(g)

500‌

462‌

Public

Service

Co

of

Colorado

4.50%,

06/01/2052

132‌

127‌

Public

Service

Enterprise

Group

Inc

5.85%,

11/15/2027

450‌

472‌

Southern

California

Edison

Co

3.65%,

02/01/2050

810‌

637‌

4.20%,

03/01/2029

460‌

448‌

4.88%,

03/01/2049

500‌

475‌

State

Grid

Overseas

Investment

BVI

Ltd

3.50%,

05/04/2027

650‌

631‌

Tucson

Electric

Power

Co

4.85%,

12/01/2048

100‌

92‌

Vistra

Corp

7.00%,

12/15/2026

(f),(g),(h)

265‌

248‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.74%

Vistra

Operations

Co

LLC

4.38%,

05/01/2029

(g)

560‌

492‌

WEC

Energy

Group

Inc

4.75%,

01/09/2026

400‌

401‌

5.00%,

09/27/2025

574‌

577‌

5.15%,

10/01/2027

417‌

426‌

$

15,595‌

Electrical

Components

&

Equipment

-

0

.14

%

WESCO

Distribution

Inc

7.13%,

06/15/2025

(g)

250‌

254‌

7.25%,

06/15/2028

(g)

590‌

605‌

$

859‌

Electronics

-

0

.17

%

Imola

Merger

Corp

4.75%,

05/15/2029

(g)

450‌

391‌

Sensata

Technologies

BV

4.00%,

04/15/2029

(g)

655‌

588‌

Sensata

Technologies

Inc

3.75%,

02/15/2031

(g)

79‌

67‌

$

1,046‌

Engineering

&

Construction

-

0

.27

%

Global

Infrastructure

Solutions

Inc

5.63%,

06/01/2029

(g)

795‌

652‌

IHS

Holding

Ltd

6.25%,

11/29/2028

(g)

325‌

266‌

Mexico

City

Airport

Trust

4.25%,

10/31/2026

(g)

250‌

242‌

Sitios

Latinoamerica

SAB

de

CV

5.38%,

04/04/2032

(g)

575‌

536‌

$

1,696‌

Schedule

of

Investments

Core

Plus

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

16

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Entertainment

-

0

.60

%

Boyne

USA

Inc

4.75%,

05/15/2029

(g)

$

550‌

$

498‌

Caesars

Entertainment

Inc

6.25%,

07/01/2025

(g)

245‌

244‌

CCM

Merger

Inc

6.38%,

05/01/2026

(g)

255‌

247‌

CDI

Escrow

Issuer

Inc

5.75%,

04/01/2030

(g)

525‌

497‌

Cinemark

USA

Inc

5.25%,

07/15/2028

(g)

600‌

492‌

8.75%,

05/01/2025

(g)

165‌

168‌

International

Game

Technology

PLC

5.25%,

01/15/2029

(g)

645‌

619‌

Warnermedia

Holdings

Inc

3.76%,

03/15/2027

(g)

375‌

352‌

5.05%,

03/15/2042

(g)

505‌

431‌

5.14%,

03/15/2052

(g)

205‌

170‌

$

3,718‌

Environmental

Control

-

0

.23

%

Madison

IAQ

LLC

4.13%,

06/30/2028

(g)

645‌

568‌

Waste

Connections

Inc

2.20%,

01/15/2032

545‌

452‌

4.20%,

01/15/2033

400‌

388‌

$

1,408‌

Food

-

1

.44

%

Albertsons

Cos

Inc

/

Safeway

Inc

/

New

Albertsons

LP

/

Albertsons

LLC

4.63%,

01/15/2027

(g)

280‌

265‌

4.88%,

02/15/2030

(g)

510‌

469‌

B&G

Foods

Inc

5.25%,

04/01/2025

135‌

123‌

Cencosud

SA

4.38%,

07/17/2027

(g)

475‌

458‌

JBS

USA

LUX

SA

/

JBS

USA

Food

Co

/

JBS

USA

Finance

Inc

3.63%,

01/15/2032

(g)

600‌

501‌

4.38%,

02/02/2052

(g)

1,421‌

1,083‌

6.50%,

12/01/2052

(g)

335‌

342‌

Kraft

Heinz

Foods

Co

3.75%,

04/01/2030

220‌

208‌

4.88%,

10/01/2049

1,180‌

1,104‌

MARB

BondCo

PLC

3.95%,

01/29/2031

325‌

256‌

Nestle

Holdings

Inc

4.13%,

10/01/2027

(g)

700‌

699‌

Pilgrim's

Pride

Corp

3.50%,

03/01/2032

(g)

300‌

245‌

4.25%,

04/15/2031

(g)

2,580‌

2,238‌

Post

Holdings

Inc

4.50%,

09/15/2031

(g)

520‌

449‌

4.63%,

04/15/2030

(g)

70‌

62‌

Sysco

Corp

3.30%,

07/15/2026

475‌

457‌

$

8,959‌

Forest

Products

&

Paper

-

0

.03

%

Suzano

Austria

GmbH

3.75%,

01/15/2031

195‌

167‌

Gas

-

0

.15

%

NiSource

Inc

0.95%,

08/15/2025

1,000‌

911‌

Healthcare

-

Products

-

0

.15

%

Abbott

Laboratories

1.40%,

06/30/2030

325‌

269‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Healthcare

-

Products

(continued)

Boston

Scientific

Corp

3.45%,

03/01/2024

$

344‌

$

339‌

4.55%,

03/01/2039

297‌

281‌

4.70%,

03/01/2049

48‌

46‌

$

935‌

Healthcare

-

Services

-

1

.22

%

Acadia

Healthcare

Co

Inc

5.00%,

04/15/2029

(g)

295‌

276‌

Centene

Corp

2.50%,

03/01/2031

500‌

409‌

2.63%,

08/01/2031

2,345‌

1,920‌

3.00%,

10/15/2030

375‌

321‌

3.38%,

02/15/2030

160‌

141‌

4.25%,

12/15/2027

405‌

389‌

CHS/Community

Health

Systems

Inc

6.00%,

01/15/2029

(g)

750‌

658‌

8.00%,

03/15/2026

(g)

130‌

126‌

HCA

Inc

3.13%,

03/15/2027

(g)

935‌

869‌

3.50%,

07/15/2051

470‌

330‌

Tenet

Healthcare

Corp

4.63%,

09/01/2024

220‌

216‌

6.13%,

06/15/2030

(g)

505‌

490‌

UnitedHealth

Group

Inc

4.75%,

05/15/2052

715‌

708‌

5.15%,

10/15/2025

350‌

357‌

5.88%,

02/15/2053

320‌

366‌

$

7,576‌

Home

Builders

-

0

.13

%

Beazer

Homes

USA

Inc

6.75%,

03/15/2025

130‌

127‌

Forestar

Group

Inc

3.85%,

05/15/2026

(g)

55‌

49‌

5.00%,

03/01/2028

(g)

380‌

332‌

Lennar

Corp

4.75%,

05/30/2025

300‌

296‌

$

804‌

Home

Equity

Asset

Backed

Securities

-

0

.04

%

First

NLC

Trust

2005-1

1.73%,

05/25/2035

180‌

151‌

1.00

x

1

Month

USD

LIBOR

+

0.50%

Saxon

Asset

Securities

Trust

2004-1

2.09%,

03/25/2035

210‌

116‌

1.00

x

1

Month

USD

LIBOR

+

1.70%

$

267‌

Insurance

-

0

.97

%

Acrisure

LLC

/

Acrisure

Finance

Inc

4.25%,

02/15/2029

(g)

580‌

481‌

7.00%,

11/15/2025

(g)

225‌

214‌

AIA

Group

Ltd

3.20%,

09/16/2040

(g)

730‌

557‌

American

International

Group

Inc

3.90%,

04/01/2026

43‌

42‌

Arch

Capital

Group

Ltd

3.64%,

06/30/2050

835‌

630‌

Arthur

J

Gallagher

&

Co

3.50%,

05/20/2051

810‌

615‌

Chubb

INA

Holdings

Inc

3.35%,

05/03/2026

619‌

600‌

Corebridge

Financial

Inc

4.40%,

04/05/2052

(g)

555‌

475‌

Markel

Corp

4.30%,

11/01/2047

350‌

291‌

MassMutual

Global

Funding

II

4.15%,

08/26/2025

(g)

1,140‌

1,125‌

MetLife

Inc

5.00%,

07/15/2052

350‌

355‌

Schedule

of

Investments

Core

Plus

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

17

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Insurance

(continued)

Pricoa

Global

Funding

I

3.45%,

09/01/2023

(g),(j)

$

659‌

$

653‌

$

6,038‌

Internet

-

0

.65

%

Alibaba

Group

Holding

Ltd

2.13%,

02/09/2031

(j)

450‌

371‌

Amazon.com

Inc

3.10%,

05/12/2051

675‌

513‌

4.55%,

12/01/2027

500‌

507‌

Baidu

Inc

3.08%,

04/07/2025

300‌

286‌

4.38%,

05/14/2024

375‌

371‌

Meta

Platforms

Inc

3.50%,

08/15/2027

500‌

480‌

4.45%,

08/15/2052

390‌

341‌

Netflix

Inc

4.38%,

11/15/2026

100‌

99‌

4.88%,

06/15/2030

(g)

295‌

292‌

Prosus

NV

3.68%,

01/21/2030

(g)

325‌

281‌

4.19%,

01/19/2032

(g)

575‌

494‌

$

4,035‌

Investment

Companies

-

0

.20

%

Blackstone

Private

Credit

Fund

4.70%,

03/24/2025

(j)

610‌

592‌

Compass

Group

Diversified

Holdings

LLC

5.25%,

04/15/2029

(g)

580‌

522‌

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

4.75%,

09/15/2024

165‌

161‌

$

1,275‌

Iron

&

Steel

-

0

.11

%

CSN

Resources

SA

4.63%,

06/10/2031

300‌

252‌

Nucor

Corp

3.85%,

04/01/2052

200‌

167‌

Vale

Overseas

Ltd

3.75%,

07/08/2030

280‌

251‌

$

670‌

Leisure

Products

&

Services

-

0

.20

%

Life

Time

Inc

5.75%,

01/15/2026

(g)

665‌

639‌

NCL

Corp

Ltd

3.63%,

12/15/2024

(g)

85‌

80‌

5.88%,

02/15/2027

(g)

270‌

251‌

NCL

Finance

Ltd

6.13%,

03/15/2028

(g)

325‌

264‌

$

1,234‌

Lodging

-

0

.41

%

Marriott

International

Inc/MD

2.75%,

10/15/2033

1,200‌

973‌

3.60%,

04/15/2024

695‌

683‌

5.00%,

10/15/2027

685‌

691‌

Sands

China

Ltd

3.75%,

08/08/2031

245‌

205‌

$

2,552‌

Machinery

-

Diversified

-

0

.12

%

Maxim

Crane

Works

Holdings

Capital

LLC

10.13%,

08/01/2024

(g)

427‌

411‌

Westinghouse

Air

Brake

Technologies

Corp

3.20%,

06/15/2025

355‌

336‌

$

747‌

Media

-

1

.36

%

AMC

Networks

Inc

4.75%,

08/01/2025

701‌

599‌

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

4.50%,

08/15/2030

(g)

1,039‌

888‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

(continued)

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

3.50%,

06/01/2041

$

1,170‌

$

822‌

3.75%,

02/15/2028

1,490‌

1,389‌

4.91%,

07/23/2025

485‌

482‌

Comcast

Corp

5.25%,

11/07/2025

350‌

357‌

5.50%,

11/15/2032

1,250‌

1,346‌

Directv

Financing

LLC

/

Directv

Financing

Co-

Obligor

Inc

5.88%,

08/15/2027

(g)

130‌

118‌

DISH

DBS

Corp

5.88%,

11/15/2024

190‌

179‌

7.38%,

07/01/2028

620‌

445‌

DISH

Network

Corp

11.75%,

11/15/2027

(g)

120‌

125‌

LCPR

Senior

Secured

Financing

DAC

5.13%,

07/15/2029

(g)

315‌

277‌

Paramount

Global

4.75%,

05/15/2025

103‌

102‌

Sirius

XM

Radio

Inc

4.00%,

07/15/2028

(g)

695‌

619‌

UPC

Holding

BV

5.50%,

01/15/2028

(g)

560‌

511‌

Ziggo

Bond

Co

BV

6.00%,

01/15/2027

(g)

210‌

199‌

$

8,458‌

Mining

-

0

.39

%

Gold

Fields

Orogen

Holdings

BVI

Ltd

6.13%,

05/15/2029

(g)

300‌

308‌

Hudbay

Minerals

Inc

4.50%,

04/01/2026

(g)

360‌

332‌

6.13%,

04/01/2029

(g)

190‌

175‌

IAMGOLD

Corp

5.75%,

10/15/2028

(g)

295‌

233‌

Indonesia

Asahan

Aluminium

Persero

PT

4.75%,

05/15/2025

500‌

496‌

New

Gold

Inc

7.50%,

07/15/2027

(g)

295‌

274‌

Novelis

Corp

3.25%,

11/15/2026

(g)

80‌

72‌

4.75%,

01/30/2030

(g)

483‌

437‌

Taseko

Mines

Ltd

7.00%,

02/15/2026

(g)

130‌

123‌

$

2,450‌

Miscellaneous

Manufacturers

-

0

.06

%

Parker-Hannifin

Corp

4.25%,

09/15/2027

360‌

356‌

Mortgage

Backed

Securities

-

1

.77

%

Fannie

Mae

REMIC

Trust

2005-W2

4.71%,

05/25/2035

20‌

20‌

1.00

x

1

Month

USD

LIBOR

+

0.20%

Fannie

Mae

REMICS

1.64%,

01/25/2048

(l)

2,017‌

250‌

(1.00)

x

1

Month

USD

LIBOR

+

6.15%

2.25%,

07/25/2040

20‌

19‌

3.00%,

04/25/2027

(l)

719‌

32‌

3.00%,

09/25/2050

(l)

2,371‌

367‌

3.50%,

09/25/2027

(l)

1,098‌

59‌

3.50%,

11/25/2027

(l)

289‌

14‌

3.50%,

05/25/2028

(l)

301‌

11‌

4.00%,

04/25/2043

(l)

201‌

16‌

Freddie

Mac

REMICS

1.59%,

10/15/2046

(l)

3,258‌

313‌

(1.00)

x

1

Month

USD

LIBOR

+

6.05%

1.64%,

06/25/2050

(l)

2,873‌

366‌

(1.00)

x

1

Month

USD

LIBOR

+

6.15%

Schedule

of

Investments

Core

Plus

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

18

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Mortgage

Backed

Securities

(continued)

Freddie

Mac

REMICS  

(continued)

2.00%,

02/15/2036

$

110‌

$

106‌

2.19%,

05/15/2026

(l)

202‌

2‌

(1.00)

x

1

Month

USD

LIBOR

+

6.65%

3.00%,

05/15/2027

(l)

630‌

25‌

3.00%,

10/15/2027

(l)

191‌

9‌

3.00%,

02/15/2029

(l)

1,128‌

44‌

3.50%,

02/15/2028

(l)

618‌

31‌

3.50%,

01/15/2040

(l)

435‌

12‌

3.50%,

03/15/2041

(l)

937‌

57‌

4.91%,

05/15/2049

2,861‌

2,801‌

1.00

x

1

Month

USD

LIBOR

+

0.45%

Ginnie

Mae

1.19%,

04/20/2052

(l)

2,863‌

335‌

(1.00)

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

5.50%

1.56%,

11/20/2040

(l)

1,411‌

159‌

(1.00)

x

1

Month

USD

LIBOR

+

6.05%

1.56%,

05/20/2046

(l)

330‌

42‌

(1.00)

x

1

Month

USD

LIBOR

+

6.05%

1.66%,

08/20/2044

(l)

1,209‌

138‌

(1.00)

x

1

Month

USD

LIBOR

+

6.15%

1.66%,

03/20/2047

(l)

1,427‌

182‌

(1.00)

x

1

Month

USD

LIBOR

+

6.15%

1.71%,

10/20/2045

(l)

1,154‌

138‌

(1.00)

x

1

Month

USD

LIBOR

+

6.20%

1.71%,

08/20/2047

(l)

580‌

72‌

(1.00)

x

1

Month

USD

LIBOR

+

6.20%

1.71%,

08/20/2047

(l)

4,446‌

793‌

(1.00)

x

1

Month

USD

LIBOR

+

6.20%

1.71%,

08/20/2047

(l)

1,649‌

208‌

(1.00)

x

1

Month

USD

LIBOR

+

6.20%

1.71%,

11/20/2047

(l)

826‌

88‌

(1.00)

x

1

Month

USD

LIBOR

+

6.20%

1.76%,

10/20/2047

(l)

1,380‌

176‌

(1.00)

x

1

Month

USD

LIBOR

+

6.25%

1.81%,

08/20/2050

(l)

2,991‌

411‌

(1.00)

x

1

Month

USD

LIBOR

+

6.30%

1.81%,

09/20/2050

(l)

2,514‌

329‌

(1.00)

x

1

Month

USD

LIBOR

+

6.30%

1.81%,

08/20/2051

(l)

1,864‌

250‌

(1.00)

x

1

Month

USD

LIBOR

+

6.30%

2.16%,

04/20/2041

(l)

580‌

74‌

(1.10)

x

1

Month

USD

LIBOR

+

7.10%

2.50%,

12/20/2050

(l)

2,831‌

432‌

3.00%,

07/20/2050

(l)

712‌

103‌

3.00%,

11/20/2050

(l)

2,692‌

445‌

3.00%,

11/20/2050

(l)

2,494‌

370‌

3.00%,

11/20/2050

(l)

1,635‌

242‌

3.50%,

02/20/2040

(l)

189‌

2‌

3.50%,

01/20/2043

(l)

2,250‌

381‌

3.50%,

10/20/2049

(l)

992‌

164‌

4.00%,

03/16/2039

(l)

382‌

13‌

4.00%,

09/20/2040

(l)

696‌

49‌

4.50%,

05/16/2043

(l)

951‌

173‌

JP

Morgan

Mortgage

Trust

2016-2

5.08%,

06/25/2046

(g),(k)

780‌

725‌

Merrill

Lynch

Mortgage

Investors

Trust

Series

2005-A8

5.21%,

08/25/2036

4‌

4‌

1.00

x

1

Month

USD

LIBOR

+

0.70%

$

11,052‌

Oil

&

Gas

-

1

.39

%

Aethon

United

BR

LP

/

Aethon

United

Finance

Corp

8.25%,

02/15/2026

(g)

1,045‌

1,040‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Oil

&

Gas

(continued)

Antero

Resources

Corp

7.63%,

02/01/2029

(g)

$

703‌

$

719‌

Ascent

Resources

Utica

Holdings

LLC

/

ARU

Finance

Corp

7.00%,

11/01/2026

(g)

370‌

353‌

Comstock

Resources

Inc

5.88%,

01/15/2030

(g)

430‌

369‌

Continental

Resources

Inc/OK

3.80%,

06/01/2024

515‌

505‌

CrownRock

LP

/

CrownRock

Finance

Inc

5.63%,

10/15/2025

(g)

265‌

258‌

Ecopetrol

SA

8.88%,

01/13/2033

975‌

1,000‌

Leviathan

Bond

Ltd

5.75%,

06/30/2023

(g)

375‌

374‌

MEG

Energy

Corp

7.13%,

02/01/2027

(g)

465‌

477‌

Nabors

Industries

Inc

9.00%,

02/01/2025

(g)

170‌

173‌

Occidental

Petroleum

Corp

5.55%,

03/15/2026

235‌

237‌

5.88%,

09/01/2025

1,010‌

1,022‌

6.13%,

01/01/2031

270‌

282‌

6.63%,

09/01/2030

110‌

117‌

Petrobras

Global

Finance

BV

5.50%,

06/10/2051

375‌

293‌

Petroleos

Mexicanos

6.70%,

02/16/2032

703‌

584‌

QatarEnergy

2.25%,

07/12/2031

(g)

275‌

234‌

Saudi

Arabian

Oil

Co

3.25%,

11/24/2050

(g)

300‌

217‌

Tengizchevroil

Finance

Co

International

Ltd

4.00%,

08/15/2026

(g)

275‌

245‌

Tullow

Oil

PLC

10.25%,

05/15/2026

(g)

200‌

172‌

$

8,671‌

Oil

&

Gas

Services

-

0

.11

%

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp

6.25%,

04/01/2028

(g)

700‌

665‌

Other

Asset

Backed

Securities

-

0

.46

%

Chase

Funding

Trust

Series

2003-5

5.11%,

07/25/2033

612‌

580‌

1.00

x

1

Month

USD

LIBOR

+

0.60%

Chase

Funding

Trust

Series

2004-1

4.97%,

12/25/2033

17‌

16‌

1.00

x

1

Month

USD

LIBOR

+

0.46%

DLLST

2022-1

LLC

2.79%,

01/22/2024

(g)

1,564‌

1,552‌

Verizon

Owner

Trust

2020-B

0.47%,

02/20/2025

706‌

696‌

$

2,844‌

Packaging

&

Containers

-

0

.33

%

Ardagh

Packaging

Finance

PLC

/

Ardagh

Holdings

USA

Inc

4.13%,

08/15/2026

(g)

390‌

356‌

Canpack

SA

/

Canpack

US

LLC

3.13%,

11/01/2025

(g)

200‌

182‌

Clydesdale

Acquisition

Holdings

Inc

6.63%,

04/15/2029

(g)

225‌

221‌

8.75%,

04/15/2030

(g)

160‌

142‌

Crown

Cork

&

Seal

Co

Inc

7.38%,

12/15/2026

576‌

602‌

Graphic

Packaging

International

LLC

4.13%,

08/15/2024

125‌

123‌

Schedule

of

Investments

Core

Plus

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

19

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Packaging

&

Containers

(continued)

LABL

Inc

6.75%,

07/15/2026

(g)

$

185‌

$

179‌

Mauser

Packaging

Solutions

Holding

Co

5.50%,

04/15/2024

(g)

125‌

125‌

7.88%,

08/15/2026

(g),(n)

125‌

126‌

$

2,056‌

Pharmaceuticals

-

0

.92

%

180

Medical

Inc

3.88%,

10/15/2029

(g)

245‌

217‌

AbbVie

Inc

2.60%,

11/21/2024

550‌

530‌

4.05%,

11/21/2039

1,000‌

901‌

BellRing

Brands

Inc

7.00%,

03/15/2030

(g)

445‌

442‌

Bristol-Myers

Squibb

Co

4.13%,

06/15/2039

415‌

390‌

Cigna

Corp

4.90%,

12/15/2048

165‌

158‌

CVS

Health

Corp

4.30%,

03/25/2028

98‌

96‌

4.88%,

07/20/2035

570‌

567‌

5.05%,

03/25/2048

260‌

247‌

Jazz

Securities

DAC

4.38%,

01/15/2029

(g)

285‌

260‌

Viatris

Inc

1.65%,

06/22/2025

175‌

161‌

Zoetis

Inc

3.00%,

09/12/2027

860‌

812‌

4.45%,

08/20/2048

1,035‌

944‌

$

5,725‌

Pipelines

-

2

.12

%

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp

5.38%,

06/15/2029

(g)

550‌

511‌

5.75%,

03/01/2027

(g)

415‌

402‌

CNX

Midstream

Partners

LP

4.75%,

04/15/2030

(g)

670‌

567‌

Crestwood

Midstream

Partners

LP

/

Crestwood

Midstream

Finance

Corp

5.63%,

05/01/2027

(g)

760‌

726‌

Energy

Transfer

LP

3.75%,

05/15/2030

840‌

770‌

4.50%,

04/15/2024

575‌

570‌

5.15%,

03/15/2045

1,625‌

1,466‌

5.55%,

02/15/2028

1,065‌

1,082‌

Enterprise

Products

Operating

LLC

4.20%,

01/31/2050

515‌

439‌

EQM

Midstream

Partners

LP

6.00%,

07/01/2025

(g)

89‌

88‌

7.50%,

06/01/2027

(g)

155‌

155‌

Galaxy

Pipeline

Assets

Bidco

Ltd

1.75%,

09/30/2027

(g)

284‌

264‌

2.16%,

03/31/2034

(g)

277‌

239‌

Hess

Midstream

Operations

LP

4.25%,

02/15/2030

(g)

720‌

631‌

5.63%,

02/15/2026

(g)

345‌

342‌

Kinder

Morgan

Inc

1.75%,

11/15/2026

1,235‌

1,108‌

Kinetik

Holdings

LP

5.88%,

06/15/2030

(g)

505‌

480‌

NuStar

Logistics

LP

5.75%,

10/01/2025

150‌

148‌

Sabine

Pass

Liquefaction

LLC

4.20%,

03/15/2028

465‌

451‌

5.00%,

03/15/2027

275‌

275‌

5.75%,

05/15/2024

1,225‌

1,232‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Pipelines

(continued)

Williams

Cos

Inc/The

4.55%,

06/24/2024

$

1,225‌

$

1,223‌

$

13,169‌

REITs

-

1

.12

%

American

Tower

Corp

1.30%,

09/15/2025

445‌

405‌

Cibanco

SA

Ibm

/

PLA

Administradora

Industrial

S

de

RL

de

CV

4.96%,

07/18/2029

(g)

300‌

282‌

HAT

Holdings

I

LLC

/

HAT

Holdings

II

LLC

3.38%,

06/15/2026

(g)

525‌

466‌

3.75%,

09/15/2030

(g)

403‌

308‌

Invitation

Homes

Operating

Partnership

LP

2.00%,

08/15/2031

810‌

629‌

2.30%,

11/15/2028

1,440‌

1,228‌

Kimco

Realty

OP

LLC

3.20%,

04/01/2032

515‌

446‌

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp

4.75%,

06/15/2029

(g)

598‌

497‌

Mid-America

Apartments

LP

2.88%,

09/15/2051

646‌

450‌

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co-Issuer

4.88%,

05/15/2029

(g)

125‌

108‌

5.88%,

10/01/2028

(g)

50‌

46‌

7.50%,

06/01/2025

(g)

105‌

106‌

VICI

Properties

LP

/

VICI

Note

Co

Inc

3.50%,

02/15/2025

(g)

230‌

219‌

4.13%,

08/15/2030

(g)

1,550‌

1,386‌

XHR

LP

4.88%,

06/01/2029

(g)

421‌

374‌

$

6,950‌

Retail

-

0

.39

%

Abercrombie

&

Fitch

Management

Co

8.75%,

07/15/2025

(g),(j)

120‌

121‌

Bath

&

Body

Works

Inc

5.25%,

02/01/2028

220‌

208‌

6.63%,

10/01/2030

(g)

330‌

323‌

9.38%,

07/01/2025

(g)

238‌

255‌

Fertitta

Entertainment

LLC

/

Fertitta

Entertainment

Finance

Co

Inc

4.63%,

01/15/2029

(g)

560‌

494‌

IRB

Holding

Corp

7.00%,

06/15/2025

(g)

25‌

25‌

LSF9

Atlantis

Holdings

LLC

/

Victra

Finance

Corp

7.75%,

02/15/2026

(g)

525‌

479‌

Patrick

Industries

Inc

4.75%,

05/01/2029

(g)

215‌

184‌

7.50%,

10/15/2027

(g)

340‌

336‌

$

2,425‌

Semiconductors

-

0

.34

%

Broadcom

Inc

3.14%,

11/15/2035

(g)

75‌

58‌

3.42%,

04/15/2033

(g)

1,905‌

1,598‌

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA

Inc

2.70%,

05/01/2025

135‌

128‌

3.15%,

05/01/2027

140‌

131‌

Skyworks

Solutions

Inc

1.80%,

06/01/2026

235‌

210‌

$

2,125‌

Software

-

1

.69

%

Fidelity

National

Information

Services

Inc

4.50%,

07/15/2025

1,000‌

990‌

Schedule

of

Investments

Core

Plus

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

20

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Software

(continued)

Fiserv

Inc

3.20%,

07/01/2026

$

1,000‌

$

950‌

4.40%,

07/01/2049

925‌

794‌

Open

Text

Corp

3.88%,

02/15/2028

(g)

200‌

174‌

3.88%,

12/01/2029

(g)

1,185‌

986‌

Open

Text

Holdings

Inc

4.13%,

02/15/2030

(g)

850‌

716‌

Oracle

Corp

2.50%,

04/01/2025

270‌

257‌

2.80%,

04/01/2027

525‌

486‌

3.95%,

03/25/2051

670‌

521‌

6.15%,

11/09/2029

370‌

396‌

Salesforce

Inc

3.70%,

04/11/2028

505‌

494‌

Take-Two

Interactive

Software

Inc

3.55%,

04/14/2025

955‌

926‌

4.00%,

04/14/2032

410‌

384‌

VMware

Inc

1.40%,

08/15/2026

1,500‌

1,328‌

1.80%,

08/15/2028

1,360‌

1,147‌

$

10,549‌

Sovereign

-

1

.54

%

Brazilian

Government

International

Bond

3.88%,

06/12/2030

645‌

570‌

CoBank

ACB

6.25%,

10/01/2026

(f),(h)

670‌

664‌

3

Month

USD

LIBOR

+

4.66%

Colombia

Government

International

Bond

3.13%,

04/15/2031

500‌

378‌

Dominican

Republic

International

Bond

4.88%,

09/23/2032

(g)

550‌

468‌

Egypt

Government

International

Bond

5.80%,

09/30/2027

(g)

600‌

497‌

Hungary

Government

International

Bond

6.13%,

05/22/2028

(g)

550‌

569‌

Indonesia

Government

International

Bond

2.85%,

02/14/2030

650‌

585‌

Jamaica

Government

International

Bond

7.88%,

07/28/2045

300‌

351‌

Mexico

Government

International

Bond

4.75%,

03/08/2044

570‌

488‌

6.35%,

02/09/2035

450‌

478‌

Nigeria

Government

International

Bond

7.38%,

09/28/2033

(g)

300‌

214‌

Oman

Government

International

Bond

6.25%,

01/25/2031

(g)

270‌

279‌

Panama

Government

International

Bond

4.50%,

01/19/2063

200‌

149‌

Peruvian

Government

International

Bond

2.78%,

12/01/2060

350‌

211‌

Qatar

Government

International

Bond

4.63%,

06/02/2046

300‌

293‌

Romanian

Government

International

Bond

3.63%,

03/27/2032

290‌

244‌

Saudi

Government

International

Bond

4.50%,

10/26/2046

850‌

761‌

5.00%,

01/18/2053

(g)

1,050‌

1,000‌

Serbia

International

Bond

6.25%,

05/26/2028

(g)

225‌

228‌

Turkey

Government

International

Bond

9.38%,

01/19/2033

900‌

881‌

UAE

International

Government

Bond

3.25%,

10/19/2061

(g)

350‌

264‌

$

9,572‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Telecommunications

-

1

.80

%

AT&T

Inc

2.75%,

06/01/2031

$

315‌

$

272‌

3.50%,

09/15/2053

2,668‌

1,969‌

Axtel

SAB

de

CV

6.38%,

11/14/2024

325‌

277‌

CT

Trust

5.13%,

02/03/2032

(g)

550‌

479‌

DKT

Finance

ApS

9.38%,

06/17/2023

(g)

200‌

200‌

Empresa

Nacional

de

Telecomunicaciones

SA

3.05%,

09/14/2032

(g)

400‌

326‌

Maxar

Technologies

Inc

7.75%,

06/15/2027

(g)

490‌

512‌

Telecom

Italia

Capital

SA

6.38%,

11/15/2033

85‌

72‌

Telecom

Italia

SpA/Milano

5.30%,

05/30/2024

(g)

235‌

228‌

T-Mobile

USA

Inc

2.40%,

03/15/2029

910‌

792‌

2.55%,

02/15/2031

650‌

552‌

3.50%,

04/15/2025

715‌

694‌

3.50%,

04/15/2031

1,800‌

1,611‌

Verizon

Communications

Inc

2.55%,

03/21/2031

1,685‌

1,438‌

2.88%,

11/20/2050

220‌

150‌

4.27%,

01/15/2036

934‌

875‌

Viavi

Solutions

Inc

3.75%,

10/01/2029

(g)

575‌

502‌

VTR

Comunicaciones

SpA

5.13%,

01/15/2028

(g)

336‌

235‌

$

11,184‌

Transportation

-

0

.24

%

Burlington

Northern

Santa

Fe

LLC

4.45%,

01/15/2053

185‌

177‌

Eletson

Holdings

Inc

/

Eletson

Finance

US

LLC

/

Agathonissos

Finance

LLC

0.00%,

01/15/2022

(d),(e)

1,749‌

9‌

Lima

Metro

Line

2

Finance

Ltd

5.88%,

07/05/2034

373‌

365‌

Union

Pacific

Corp

3.50%,

02/14/2053

880‌

711‌

XPO

Escrow

Sub

LLC

7.50%,

11/15/2027

(g)

260‌

267‌

$

1,529‌

Water

-

0

.06

%

Essential

Utilities

Inc

2.70%,

04/15/2030

400‌

347‌

TOTAL

BONDS

$

306,771‌

SENIOR

FLOATING

RATE

INTERESTS

-

0

.81

%

Principal

Amount

(000's)

Value

(000's)

Airlines

-

0

.15

%

AAdvantage

Loyalty

IP

Ltd

9.56%,

04/20/2028

(o)

$

510‌

$

524‌

3

Month

USD

LIBOR

+

4.75%

United

Airlines

Inc

8.57%,

04/21/2028

(o)

375‌

374‌

3

Month

USD

LIBOR

+

3.75%

$

898‌

Commercial

Services

-

0

.07

%

Garda

World

Security

Corp

8.93%,

10/30/2026

(o)

464‌

461‌

1

Month

USD

LIBOR

+

4.25%

Computers

-

0

.04

%

Virtusa

Corp

8.32%,

02/11/2028

(o)

268‌

265‌

1

Month

USD

LIBOR

+

3.75%

Schedule

of

Investments

Core

Plus

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

21

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Diversified

Financial

Services

-

0

.10

%

Russell

Investments

US

Institutional

Holdco

Inc

8.07%,

05/30/2025

(o)

$

657‌

$

643‌

1

Month

USD

LIBOR

+

3.50%

Entertainment

-

0

.02

%

Lions

Gate

Capital

Holdings

LLC

6.82%,

03/24/2025

(o)

120‌

118‌

3

Month

USD

LIBOR

+

2.00%

Lodging

-

0

.04

%

Fertitta

Entertainment

LLC/NV

8.56%,

01/13/2029

(o)

254‌

251‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

Media

-

0

.11

%

CSC

Holdings

LLC

6.96%,

04/15/2027

(o)

188‌

174‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.50%

Directv

Financing

LLC

9.57%,

08/02/2027

(o)

530‌

520‌

1

Month

USD

LIBOR

+

5.00%

$

694‌

Oil

&

Gas

-

0

.01

%

Ascent

Resources

Utica

Holdings

LLC

13.81%,

11/01/2025

(o)

47‌

50‌

1

Month

USD

LIBOR

+

9.00%

Packaging

&

Containers

-

0

.07

%

Valcour

Packaging

LLC

7.98%,

09/30/2028

(o)

506‌

417‌

1

Month

USD

LIBOR

+

3.75%

Pharmaceuticals

-

0

.12

%

Bausch

Health

Cos

Inc

9.83%,

01/27/2027

(o)

683‌

523‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

5.25%

Jazz

Financing

Lux

Sarl

8.07%,

05/05/2028

(o)

241‌

241‌

1

Month

USD

LIBOR

+

3.50%

$

764‌

Retail

-

0

.08

%

IRB

Holding

Corp

7.32%,

02/05/2025

(o)

506‌

505‌

1

Month

USD

LIBOR

+

2.75%

TOTAL

SENIOR

FLOATING

RATE

INTERESTS

$

5,066‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

55

.83

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

1

.51

%

2.49%,

01/01/2034

$

33‌

$

33‌

1.00

x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.37%

3.00%,

01/01/2043

1,368‌

1,288‌

3.00%,

02/01/2043

662‌

623‌

3.00%,

03/01/2043

278‌

261‌

4.00%,

02/01/2046

3,090‌

3,048‌

4.50%,

04/01/2031

297‌

303‌

4.50%,

04/01/2041

1,789‌

1,820‌

5.00%,

06/01/2031

212‌

217‌

5.50%,

05/01/2033

23‌

24‌

5.50%,

10/01/2033

32‌

32‌

5.50%,

12/01/2033

414‌

428‌

5.50%,

11/01/2036

339‌

349‌

5.50%,

04/01/2038

65‌

66‌

5.50%,

08/01/2038

166‌

175‌

6.00%,

07/01/2023

3‌

3‌

6.00%,

06/01/2028

1‌

1‌

6.00%,

12/01/2031

10‌

11‌

6.00%,

12/01/2032

10‌

10‌

6.00%,

02/01/2033

79‌

82‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

(continued)

6.00%,

12/01/2033

$

19‌

$

20‌

6.00%,

10/01/2036

82‌

87‌

6.00%,

07/01/2038

368‌

384‌

6.50%,

03/01/2029

2‌

2‌

6.50%,

05/01/2029

3‌

3‌

6.50%,

04/01/2031

1‌

1‌

6.50%,

09/01/2031

1‌

1‌

6.50%,

02/01/2032

1‌

1‌

6.50%,

05/01/2032

4‌

4‌

6.50%,

04/01/2035

33‌

35‌

6.50%,

10/01/2035

23‌

25‌

7.00%,

12/01/2029

2‌

2‌

7.00%,

06/01/2030

8‌

8‌

7.50%,

09/01/2030

1‌

1‌

7.50%,

01/01/2031

3‌

4‌

7.50%,

03/01/2031

1‌

1‌

7.50%,

02/01/2032

1‌

1‌

8.00%,

09/01/2030

35‌

35‌

$

9,389‌

Federal

National

Mortgage

Association

(FNMA)

-

0

.24

%

1.98%,

02/01/2036

3‌

3‌

1.00

x

12

Month

USD

LIBOR

+

1.61%

2.04%,

04/01/2036

15‌

15‌

1.00

x

12

Month

USD

LIBOR

+

1.54%

2.72%,

10/01/2034

20‌

20‌

1.00

x

6

Month

USD

LIBOR

+

1.08%

2.84%,

01/01/2033

35‌

34‌

1.00

x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.14%

3.52%,

07/01/2033

263‌

267‌

1.00

x

12

Month

USD

LIBOR

+

1.56%

3.84%,

04/01/2033

57‌

56‌

1.00

x

6

Month

USD

LIBOR

+

2.26%

3.99%,

08/01/2035

62‌

62‌

1.00

x

12

Month

USD

LIBOR

+

1.74%

5.00%,

07/01/2044

981‌

1,007‌

$

1,464‌

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

25

.54

%

1.50%,

12/01/2036

5,502‌

4,878‌

2.00%,

12/01/2035

1,594‌

1,452‌

2.00%,

03/01/2036

1,941‌

1,769‌

2.00%,

07/01/2050

2,289‌

1,935‌

2.00%,

01/01/2051

4,760‌

4,123‌

2.00%,

02/01/2051

9,627‌

8,279‌

2.00%,

03/01/2051

5,491‌

4,696‌

2.00%,

03/01/2051

4,204‌

3,622‌

2.00%,

11/01/2051

4,613‌

3,914‌

2.00%,

12/01/2051

1,549‌

1,331‌

2.00%,

12/01/2051

4,644‌

3,933‌

2.00%,

04/01/2052

5,857‌

4,966‌

2.00%,

05/01/2052

3,379‌

2,901‌

2.50%,

04/01/2028

817‌

781‌

2.50%,

06/01/2028

55‌

53‌

2.50%,

09/01/2029

196‌

187‌

2.50%,

06/01/2035

363‌

340‌

2.50%,

08/01/2035

1,726‌

1,622‌

2.50%,

05/01/2036

376‌

352‌

2.50%,

08/01/2050

3,111‌

2,759‌

2.50%,

07/01/2051

3,510‌

3,127‌

2.50%,

09/01/2051

4,469‌

3,993‌

2.50%,

09/01/2051

4,251‌

3,786‌

2.50%,

11/01/2051

2,102‌

1,868‌

2.50%,

01/01/2052

2,146‌

1,920‌

2.50%,

02/01/2052

5,082‌

4,455‌

2.50%,

02/01/2052

1,891‌

1,674‌

2.50%,

04/01/2052

3,573‌

3,148‌

2.50%,

04/01/2052

1,903‌

1,680‌

Schedule

of

Investments

Core

Plus

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

22

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.00%,

10/01/2029

$

38‌

$

37‌

3.00%,

09/01/2032

78‌

76‌

3.00%,

02/01/2038

(p)

5,100‌

4,892‌

3.00%,

12/01/2040

113‌

106‌

3.00%,

04/01/2043

224‌

211‌

3.00%,

05/01/2043

406‌

382‌

3.00%,

08/01/2043

1,418‌

1,333‌

3.00%,

11/01/2046

2,746‌

2,546‌

3.00%,

03/01/2048

2,240‌

2,063‌

3.00%,

12/01/2048

65‌

60‌

3.00%,

07/01/2050

2,485‌

2,292‌

3.00%,

11/01/2050

847‌

787‌

3.00%,

07/01/2051

5,774‌

5,268‌

3.00%,

04/01/2052

3,533‌

3,250‌

3.50%,

02/01/2033

15‌

15‌

3.50%,

05/01/2034

818‌

800‌

3.50%,

02/01/2038

(p)

1,500‌

1,463‌

3.50%,

01/01/2041

88‌

85‌

3.50%,

01/01/2044

712‌

687‌

3.50%,

11/01/2044

1,456‌

1,402‌

3.50%,

04/01/2047

89‌

85‌

3.50%,

10/01/2047

36‌

35‌

3.50%,

11/01/2047

2,407‌

2,310‌

3.50%,

03/01/2048

20‌

19‌

3.50%,

03/01/2053

(p)

12,000‌

11,255‌

4.00%,

02/01/2031

104‌

104‌

4.00%,

03/01/2034

314‌

312‌

4.00%,

05/01/2047

2,692‌

2,645‌

4.00%,

06/01/2048

7‌

7‌

4.00%,

02/01/2053

(p)

10,200‌

9,849‌

4.50%,

04/01/2024

61‌

62‌

4.50%,

06/01/2044

356‌

359‌

4.50%,

02/01/2053

(p)

8,000‌

7,900‌

5.00%,

06/01/2048

684‌

703‌

5.00%,

02/01/2053

(p)

5,000‌

5,018‌

5.50%,

07/01/2033

43‌

44‌

5.50%,

09/01/2033

67‌

70‌

5.50%,

05/01/2040

88‌

89‌

5.50%,

02/01/2053

(p)

4,535‌

4,608‌

6.00%,

02/01/2038

62‌

64‌

6.00%,

05/01/2038

29‌

29‌

6.00%,

08/01/2038

134‌

137‌

6.00%,

08/01/2038

61‌

63‌

6.00%,

02/01/2053

(p)

5,000‌

5,135‌

6.50%,

12/01/2031

2‌

2‌

6.50%,

02/01/2032

1‌

1‌

6.50%,

04/01/2032

1‌

2‌

6.50%,

07/01/2037

39‌

40‌

6.50%,

07/01/2037

140‌

146‌

6.50%,

12/01/2037

111‌

118‌

6.50%,

02/01/2038

208‌

221‌

6.50%,

09/01/2038

203‌

217‌

7.00%,

03/01/2032

13‌

13‌

7.50%,

08/01/2032

3‌

3‌

$

158,964‌

Government

National

Mortgage

Association

(GNMA)

-

7

.36

%

2.00%,

08/20/2050

1,661‌

1,447‌

2.00%,

02/20/2051

5,403‌

4,695‌

2.00%,

07/20/2051

4,294‌

3,723‌

2.00%,

11/20/2051

1,375‌

1,191‌

2.50%,

06/20/2050

2,194‌

1,970‌

2.50%,

05/20/2051

2,471‌

2,209‌

2.50%,

09/20/2051

4,873‌

4,350‌

2.50%,

02/01/2053

(p)

2,825‌

2,518‌

3.00%,

06/20/2043

1,107‌

1,041‌

3.00%,

01/20/2045

411‌

387‌

3.00%,

06/20/2046

203‌

189‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Government

National

Mortgage

Association

(GNMA)

(continued)

3.00%,

07/20/2046

$

867‌

$

811‌

3.00%,

11/20/2046

1,354‌

1,264‌

3.00%,

09/20/2051

4,790‌

4,420‌

3.00%,

02/01/2053

(p)

893‌

820‌

3.50%,

03/15/2042

548‌

531‌

3.50%,

04/15/2042

450‌

436‌

3.50%,

09/20/2044

54‌

51‌

3.50%,

09/20/2047

728‌

698‌

3.50%,

06/20/2048

868‌

831‌

3.50%,

02/01/2053

(p)

3,000‌

2,836‌

4.00%,

01/20/2048

1,850‌

1,850‌

4.00%,

02/01/2053

(p)

400‌

388‌

4.50%,

06/20/2025

401‌

398‌

4.50%,

09/15/2039

187‌

189‌

4.50%,

03/15/2040

746‌

757‌

4.50%,

02/01/2053

(p)

3,600‌

3,574‌

5.00%,

11/15/2033

696‌

721‌

5.00%,

06/15/2034

11‌

11‌

5.00%,

10/20/2039

51‌

53‌

5.00%,

07/20/2040

97‌

98‌

5.00%,

02/15/2042

523‌

542‌

5.50%,

10/15/2033

341‌

359‌

5.50%,

05/20/2035

27‌

28‌

5.50%,

02/15/2038

268‌

280‌

6.00%,

07/20/2028

10‌

10‌

6.00%,

11/20/2028

9‌

10‌

6.00%,

01/20/2029

10‌

10‌

6.00%,

07/20/2029

2‌

2‌

6.00%,

08/15/2031

13‌

14‌

6.00%,

01/15/2032

1‌

1‌

6.00%,

02/15/2032

6‌

6‌

6.00%,

02/15/2033

17‌

18‌

6.00%,

12/15/2033

11‌

11‌

6.50%,

03/20/2028

2‌

2‌

6.50%,

05/20/2029

2‌

2‌

6.50%,

10/15/2032

6‌

6‌

6.50%,

12/15/2032

31‌

33‌

7.00%,

06/15/2031

4‌

5‌

7.00%,

06/15/2032

21‌

22‌

8.00%,

01/20/2031

2‌

2‌

$

45,820‌

U.S.

Treasury

-

17

.20

%

0.50%,

06/30/2027

(q)

6,500‌

5,671‌

1.25%,

07/31/2023

6,000‌

5,896‌

1.25%,

08/15/2031

11,250‌

9,440‌

1.38%,

11/15/2031

8,250‌

6,956‌

1.63%,

08/15/2029

1,800‌

1,603‌

1.75%,

08/15/2041

2,430‌

1,770‌

1.88%,

11/15/2051

1,300‌

892‌

2.00%,

08/15/2051

13,000‌

9,217‌

2.25%,

11/15/2027

7,000‌

6,578‌

2.25%,

02/15/2052

7,300‌

5,485‌

2.38%,

05/15/2027

18,000‌

17,073‌

2.63%,

12/31/2023

6,000‌

5,885‌

2.88%,

05/15/2032

5,500‌

5,238‌

3.00%,

11/15/2045

4,350‌

3,825‌

3.13%,

05/15/2048

9,915‌

8,941‌

3.88%,

08/15/2040

(r)

12,220‌

12,583‌

$

107,053‌

U.S.

Treasury

Bill

-

3

.98

%

4.09%,

03/30/2023

(s)

9,725‌

9,656‌

4.46%,

05/18/2023

(s)

15,344‌

15,139‌

$

24,795‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

347,485‌

Total

Investments

$

680,978‌

Other

Assets

and

Liabilities

-  (9.41)%

(

58,573‌

)

TOTAL

NET

ASSETS

-

100.00%

$

622,405‌

Schedule

of

Investments

Core

Plus

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

23

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,535

or

0.41%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(f)

Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(g)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$90,603

or

14.56%

of

net

assets.

(h)

Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(i)

Security

is

a

contingent

convertible

security,

("CoCo").

CoCo's

are

hybrid

debt

securities

that

may

convert

to

equity

or

have

their

principal

written

down

upon

occurrence

of

certain

"triggers".

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$501

or

0.08%

of

net

assets.

(j)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,443

or

0.39%

of

net

assets.

(k)

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(l)

Security

is

an

Interest

Only

Strip.

(m)

Payment

in

kind;

the

issuer

has

the

option

of

paying

additional

securities

in

lieu

of

cash.

(n)

Security

purchased

on

a

when-issued

basis.

(o)

Rate

information

disclosed

is

based

on

an

average

weighted

rate

of

the

underlying

tranches

as

of

period

end.

(p)

Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

(q)

Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

swap

and/or

swaption

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$4,450

or

0.71%

of

net

assets.

(r)

Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

futures

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,457

or

0.23%

of

net

assets.

(s)

Rate

shown

is

the

discount

rate

of

the

original

purchase.

Portfolio

Summary  (unaudited)

Sector

Percent

Mortgage

Securities

38

.12‌

%

Government

23

.28‌

%

Financial

13

.15‌

%

Consumer,

Non-cyclical

6

.09‌

%

Asset

Backed

Securities

5

.02‌

%

Communications

3

.92‌

%

Energy

3

.63‌

%

Consumer,

Cyclical

3

.51‌

%

Industrial

3

.49‌

%

Money

Market

Funds

2

.90‌

%

Utilities

2

.71‌

%

Technology

2

.51‌

%

Basic

Materials

1

.08‌

%

Other

Assets

and

Liabilities

(

9

.41‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

61,542‌

$

46,003‌

$

15,539‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

27,887‌

56,639‌

84,526‌

—‌

$

27,887‌

$

118,181‌

$

130,529‌

$

15,539‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

84‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

114‌

—‌

—‌

—‌

$

198‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

10

Year

Note;

March

2023

Long

5‌

$

573‌

$

10‌

US

10

Year

Ultra

Note;

March

2023

Short

15‌

1,818‌

(

40‌

)

US

2

Year

Note;

March

2023

Short

22‌

4,524‌

(

18‌

)

US

5

Year

Note;

March

2023

Long

2‌

218‌

2‌

US

Long

Bond;

March

2023

Long

93‌

12,078‌

323‌

Total

$

277‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

Core

Plus

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

24

Exchange

Cleared

Credit

Default

Swaps

Buy

Protection

Reference

Entity

Implied

Credit

Spread

as

of

January

31,

2023

(a)

(Pay)/

Receive

Fixed

Rate

Payment

Frequency

Maturity

Date

Notional

Amount

Upfront

Payments/

(Receipts)

Unrealized

Appreciation/

(Depreciation)

Fair

Value

CDX.EM.37

N/A

(1.00)%

Quarterly

06/20/2027

$

23,128‌

$

1,471‌

$

(

419‌

)

$

1,052‌

CDX.NA.HY.38

N/A

(5.00)%

Quarterly

06/20/2027

10,256‌

(

212‌

)

(

185‌

)

(

397‌

)

CDX.NA.HY.39

N/A

(5.00)%

Quarterly

12/20/2027

34,160‌

61‌

(

965‌

)

(

904‌

)

Total

$

1,320‌

$

(

1,569‌

)

$

(

249‌

)

Amounts

in

thousands.

(a)

Implied

credit

spreads,

represented

in

absolute

terms,

used

in

determining

the

market

value

of

credit

default

swap

agreements

on

corporate

issues

or

sovereign

issues

as

of

period

end

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

likelihood

or

risk

of

default

for

the

credit

derivative.

The

implied

credit

spread

of

a

particular

referenced

entity

reflects

the

cost

of

buying/selling

protection

and

may

include

upfront

payments

required

to

be

made

to

enter

into

the

agreement.

Wider

credit

spreads

represent

a

deterioration

of

the

referenced

entity's

credit

soundness

and

a

greater

likelihood

or

risk

of

default

or

other

credit

event

occurring

as

defined

under

the

terms

of

the

agreement.

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

25

INVESTMENT

COMPANIES

-

12

.64

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

7

.90

%

Invesco

Preferred

ETF

263,867‌

$

3,338‌

iShares

Broad

USD

Investment

Grade

Corporate

Bond

ETF

1,826,575‌

93,594‌

iShares

Core

U.S.

Aggregate

Bond

ETF

200,825‌

20,127‌

iShares

iBoxx

$

Investment

Grade

Corporate

Bond

ETF

20,000‌

2,218‌

iShares

iBoxx

High

Yield

Corporate

Bond

ETF

313,300‌

23,914‌

iShares

MBS

ETF

852,900‌

81,776‌

iShares

Preferred

&

Income

Securities

ETF

1,500‌

50‌

Vanguard

Intermediate-Term

Corporate

Bond

ETF

310,400‌

25,077‌

$

250,094‌

Money

Market

Funds

-

4

.74

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

8,024,958‌

8,025‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b),(c)

141,849,191‌

141,849‌

$

149,874‌

TOTAL

INVESTMENT

COMPANIES

$

399,968‌

COMMON

STOCKS

-

2

.40

%

Shares

Held

Value

(000's)

Commercial

Services

-

0

.01

%

Cengage

Learning

Holdings

II

Inc

(d)

34,465‌

$

386‌

Distribution

&

Wholesale

-

0

.75

%

ATD

New

Holdings

Inc

(d)

385,347‌

23,583‌

Iron

&

Steel

-

0

.40

%

Specialty

Steel

Holdings,

Inc.

(d),(e),(f)

87‌

12,741‌

Mining

-

0

.97

%

Arctic

Canadian

Diamond

Co

Ltd

(d),(e)

6,589‌

1,661‌

Real

Alloy

Holding

Inc

(d),(e)

362‌

29,066‌

$

30,727‌

Miscellaneous

Manufacturers

-

0

.25

%

Utex

Industries

(d)

120,675‌

7,723‌

Utex

Industries

-

Warrants

(d),(e)

53,725‌

6‌

$

7,729‌

Oil

&

Gas

-

0

.00

%

SandRidge

Energy

Inc

(d)

286‌

4‌

Semiconductors

-

0

.01

%

Bright

Bidco

(d),(f)

25,267‌

415‌

Software

-

0

.01

%

Skillsoft

Corp

(d)

230,831‌

443‌

TOTAL

COMMON

STOCKS

$

76,028‌

PREFERRED

STOCKS

-

1

.30

%

Shares

Held

Value

(000's)

Banks

-

0

.42

%

AgriBank

FCB

6.88%,

01/01/2024

(g)

33,000‌

$

3,300‌

3

Month

USD

LIBOR

+

4.23%

Fifth

Third

Bancorp

6.63%,

12/31/2023

(g)

32,867‌

821‌

3

Month

USD

LIBOR

+

3.71%

KeyCorp

6.13%,

12/15/2026

(g)

33,040‌

860‌

3

Month

USD

LIBOR

+

3.89%

M&T

Bank

Corp

5.63%,

12/15/2026

(g)

1,324‌

34‌

3

Month

USD

LIBOR

+

4.02%

Morgan

Stanley

5.85%,

04/15/2027

(g)

59,100‌

1,486‌

3

Month

USD

LIBOR

+

3.49%

Morgan

Stanley

6.50%,

10/15/2027

(g)

32,261‌

840‌

Northern

Trust

Corp

4.70%,

01/01/2025

(g),(h)

6,727‌

154‌

Regions

Financial

Corp

5.70%,

05/15/2029

(g),(h)

37,100‌

923‌

3

Month

USD

LIBOR

+

3.15%

State

Street

Corp

5.90%,

03/15/2024

(g)

63,900‌

1,628‌

3

Month

USD

LIBOR

+

3.11%

Synovus

Financial

Corp

5.88%,

07/01/2024

(g)

6,591‌

163‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.13%

Valley

National

Bancorp

6.25%,

06/30/2025

(g)

119,410‌

2,972‌

3

Month

USD

LIBOR

+

3.85%

$

13,181‌

PREFERRED

STOCKS

(continued)

Shares

Held

Value

(000’s)

Diversified

Financial

Services

-

0

.03

%

Affiliated

Managers

Group

Inc

4.75%,

09/30/2060

2,874‌

$

57‌

Affiliated

Managers

Group

Inc

5.88%,

03/30/2059

(h)

7,463‌

189‌

B

Riley

Financial

Inc

6.75%,

05/31/2024

2,384‌

59‌

Capital

One

Financial

Corp

4.80%,

06/01/2025

(g)

18,347‌

382‌

Stifel

Financial

Corp

4.50%,

08/15/2026

(g)

2,339‌

45‌

$

732‌

Electric

-

0

.34

%

Algonquin

Power

&

Utilities

Corp

6.20%,

07/01/2079

50,620‌

1,174‌

3

Month

USD

LIBOR

+

4.01%

Algonquin

Power

&

Utilities

Corp

6.88%,

10/17/2078

974‌

24‌

3

Month

USD

LIBOR

+

3.68%

CMS

Energy

Corp

4.20%,

07/15/2026

(g),(h)

5,253‌

104‌

CMS

Energy

Corp

5.88%,

03/01/2079

190,058‌

4,780‌

DTE

Energy

Co

4.38%,

12/01/2081

6,005‌

123‌

DTE

Energy

Co

5.25%,

12/01/2077

(h)

35,000‌

868‌

Duke

Energy

Corp

5.75%,

06/15/2024

(g)

6,332‌

163‌

Entergy

Arkansas

LLC

4.88%,

09/01/2066

1,961‌

46‌

NextEra

Energy

Capital

Holdings

Inc

5.65%,

03/01/2079

107,004‌

2,757‌

Southern

Co/The

5.25%,

12/01/2077

30,863‌

760‌

$

10,799‌

Food

-

0

.03

%

Dairy

Farmers

of

America

Inc

7.88%,

12/01/2025

(e),(g),(i)

10,000‌

900‌

Insurance

-

0

.09

%

Equitable

Holdings

Inc

5.25%,

12/15/2024

(g),(h)

22,899‌

518‌

Prudential

Financial

Inc

5.95%,

09/01/2062

18,078‌

461‌

Voya

Financial

Inc

5.35%,

09/15/2029

(g),(h)

77,215‌

1,946‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.21%

$

2,925‌

Pipelines

-

0

.03

%

Enbridge

Inc

6.38%,

04/15/2078

37,405‌

936‌

3

Month

USD

LIBOR

+

3.59%

REITs

-

0

.34

%

Hudson

Pacific

Properties

Inc

4.75%,

11/16/2026

(g)

10,173‌

152‌

Kimco

Realty

Corp

5.25%,

03/03/2023

(g)

6,409‌

152‌

Prologis

Inc

8.54%,

11/13/2026

(g)

78,844‌

4,533‌

Public

Storage

4.00%,

06/16/2026

(g)

80,000‌

1,534‌

Public

Storage

4.13%,

08/14/2025

(g)

80,000‌

1,541‌

Public

Storage

4.63%,

06/17/2025

(g)

15,000‌

321‌

Public

Storage

5.60%,

03/11/2024

(g)

38,030‌

969‌

Vornado

Realty

Trust

5.25%,

11/24/2025

(g)

83,855‌

1,524‌

$

10,726‌

Savings

&

Loans

-

0

.00

%

New

York

Community

Bancorp

Inc

6.38%,

03/17/2027

(g)

1,363‌

34‌

3

Month

USD

LIBOR

+

3.82%

Washington

Federal

Inc

4.88%,

04/15/2026

(g)

1,677‌

34‌

$

68‌

Sovereign

-

0

.02

%

CoBank

ACB

6.20%,

01/01/2025

(g)

7,000‌

693‌

3

Month

USD

LIBOR

+

3.74%

TOTAL

PREFERRED

STOCKS

$

40,960‌

BONDS

-

68

.53

%

Principal

Amount

(000's)

Value

(000's)

Advertising

-

0

.27

%

Clear

Channel

Outdoor

Holdings

Inc

7.75%,

04/15/2028

(i)

$

1,990‌

$

1,693‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

26

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Advertising

(continued)

Outfront

Media

Capital

LLC

/

Outfront

Media

Capital

Corp

4.25%,

01/15/2029

(i)

$

1,350‌

$

1,160‌

4.63%,

03/15/2030

(i)

2,250‌

1,933‌

5.00%,

08/15/2027

(i)

4,225‌

3,886‌

$

8,672‌

Aerospace

&

Defense

-

0

.50

%

Boeing

Co/The

2.20%,

02/04/2026

3,200‌

2,958‌

3.38%,

06/15/2046

934‌

668‌

5.81%,

05/01/2050

350‌

357‌

5.93%,

05/01/2060

1,878‌

1,919‌

General

Dynamics

Corp

4.25%,

04/01/2040

1,500‌

1,453‌

TransDigm

Inc

4.63%,

01/15/2029

1,200‌

1,083‌

5.50%,

11/15/2027

5,850‌

5,587‌

7.50%,

03/15/2027

1,875‌

1,890‌

$

15,915‌

Agriculture

-

0

.16

%

Altria

Group

Inc

3.13%,

06/15/2031

EUR

500‌

460‌

5.80%,

02/14/2039

$

1,450‌

1,397‌

BAT

International

Finance

PLC

1.25%,

03/13/2027

EUR

2,600‌

2,534‌

Philip

Morris

International

Inc

6.38%,

05/16/2038

$

600‌

668‌

$

5,059‌

Airlines

-

0

.19

%

Air

Canada

3.88%,

08/15/2026

(i)

2,425‌

2,243‌

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd

5.75%,

04/20/2029

(i)

1,250‌

1,209‌

British

Airways

2021-1

Class

A

Pass

Through

Trust

2.90%,

09/15/2036

(i)

1,064‌

875‌

Hawaiian

Brand

Intellectual

Property

Ltd

/

HawaiianMiles

Loyalty

Ltd

5.75%,

01/20/2026

(i)

1,800‌

1,719‌

$

6,046‌

Automobile

Manufacturers

-

0

.82

%

Daimler

Truck

Finance

North

America

LLC

2.50%,

12/14/2031

(i)

260‌

213‌

5.13%,

01/19/2028

(i)

756‌

763‌

5.20%,

01/17/2025

(i)

833‌

837‌

Ford

Motor

Co

7.45%,

07/16/2031

(h)

1,390‌

1,491‌

Ford

Motor

Credit

Co

LLC

2.90%,

02/16/2028

1,950‌

1,677‌

3.82%,

11/02/2027

500‌

451‌

4.00%,

11/13/2030

5,450‌

4,759‌

4.13%,

08/17/2027

2,840‌

2,619‌

General

Motors

Co

5.40%,

10/15/2029

1,457‌

1,447‌

General

Motors

Financial

Co

Inc

2.70%,

06/10/2031

1,146‌

924‌

2.75%,

06/20/2025

2,048‌

1,933‌

Mercedes-Benz

Finance

North

America

LLC

5.38%,

11/26/2025

(i)

1,634‌

1,659‌

Mercedes-Benz

Group

AG

0.75%,

03/11/2033

EUR

1,200‌

999‌

PACCAR

Financial

Corp

4.95%,

10/03/2025

$

762‌

772‌

Stellantis

NV

0.75%,

01/18/2029

EUR

500‌

451‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Automobile

Manufacturers

(continued)

Toyota

Motor

Credit

Corp

1.90%,

04/06/2028

$

2,597‌

$

2,311‌

5.45%,

11/10/2027

1,131‌

1,180‌

Volkswagen

Group

of

America

Finance

LLC

4.35%,

06/08/2027

(i)

1,616‌

1,577‌

$

26,063‌

Automobile

Parts

&

Equipment

-

0

.38

%

Cie

Generale

des

Etablissements

Michelin

SCA

1.75%,

09/03/2030

EUR

1,100‌

1,103‌

Dornoch

Debt

Merger

Sub

Inc

6.63%,

10/15/2029

(i)

$

5,530‌

4,152‌

Real

Hero

Merger

Sub

2

Inc

6.25%,

02/01/2029

(i)

7,135‌

5,298‌

Wheel

Pros

Inc

6.50%,

05/15/2029

(i)

3,470‌

1,387‌

$

11,940‌

Banks

-

16

.48

%

ABN

AMRO

Bank

NV

4.80%,

04/18/2026

(i)

2,800‌

2,728‌

Australia

&

New

Zealand

Banking

Group

Ltd/

United

Kingdom

6.75%,

06/15/2026

(g),(i),(j),(k)

2,600‌

2,622‌

USD

Swap

Rate

NY

5

Year

+

5.17%

Banco

Bilbao

Vizcaya

Argentaria

SA

2.58%,

02/22/2029

(j)

EUR

1,700‌

1,812‌

EUR

Swap

Annual

(VS

6

Month)

5

Year

+

2.45%

Banco

do

Brasil

SA/Cayman

6.25%,

04/15/2024

(g),(j),(k)

$

3,075‌

2,789‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

10

Year

+

4.40%

Banco

Mercantil

del

Norte

SA/Grand

Cayman

6.75%,

09/27/2024

(g),(i),(j),(k)

275‌

269‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.97%

6.75%,

09/27/2024

(g),(j),(k)

2,000‌

1,955‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.97%

Banco

Santander

SA

1.72%,

09/14/2027

(j)

600‌

527‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.90%

2.13%,

02/08/2028

EUR

1,300‌

1,276‌

2.25%,

10/04/2032

(j)

GBP

800‌

825‌

Generic

Britain

5

Year

Government

Bond

+

1.65%

3.89%,

05/24/2024

$

2,400‌

2,365‌

4.75%,

11/12/2026

(g),(j),(k)

10,000‌

8,677‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.75%

5.29%,

08/18/2027

1,000‌

1,004‌

Bancolombia

SA

4.63%,

12/18/2029

(j),(k)

3,231‌

2,944‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.94%

Bank

Hapoalim

BM

3.26%,

01/21/2032

(i),(j),(k)

1,725‌

1,519‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.16%

Bank

of

America

Corp

0.98%,

09/25/2025

(j)

2,162‌

2,016‌

Secured

Overnight

Financing

Rate

+

0.91%

1.78%,

05/04/2027

(j)

EUR

3,000‌

3,043‌

3

Month

Euro

Interbank

Offered

Rate

+

1.20%

2.46%,

10/22/2025

(j)

$

4,354‌

4,162‌

3

Month

USD

LIBOR

+

0.87%

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

27

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Bank

of

America

Corp  

(continued)

2.68%,

06/19/2041

(j)

$

1,525‌

$

1,124‌

Secured

Overnight

Financing

Rate

+

1.93%

3.31%,

04/22/2042

(j)

1,985‌

1,597‌

Secured

Overnight

Financing

Rate

+

1.58%

3.38%,

04/02/2026

(j)

1,559‌

1,508‌

Secured

Overnight

Financing

Rate

+

1.33%

3.85%,

03/08/2037

(j)

3,033‌

2,643‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.00%

4.08%,

04/23/2040

(j)

1,953‌

1,742‌

3

Month

USD

LIBOR

+

1.32%

4.18%,

11/25/2027

2,971‌

2,917‌

4.38%,

01/27/2027

(g),(j)

4,000‌

3,630‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.76%

4.57%,

04/27/2033

(j)

842‌

814‌

Secured

Overnight

Financing

Rate

+

1.83%

6.11%,

01/29/2037

1,850‌

2,000‌

6.13%,

04/27/2027

(g),(h),(j)

7,000‌

7,007‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.23%

6.30%,

03/10/2026

(g),(j)

10,200‌

10,319‌

3

Month

USD

LIBOR

+

4.55%

Bank

of

Montreal

3.70%,

06/07/2025

1,582‌

1,545‌

5.20%,

02/01/2028

(h)

1,652‌

1,685‌

Bank

of

New

York

Mellon

Corp/The

3.70%,

03/20/2026

(g),(j)

5,588‌

5,165‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.35%

4.70%,

09/20/2025

(g),(j)

6,100‌

5,963‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.36%

Bank

of

Nova

Scotia/The

3.63%,

10/27/2081

(h),(j)

1,500‌

1,186‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.61%

4.59%,

05/04/2037

(j)

2,641‌

2,380‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.05%

8.63%,

10/27/2082

(j)

1,500‌

1,597‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.39%

BankUnited

Inc

4.88%,

11/17/2025

1,910‌

1,894‌

5.13%,

06/11/2030

2,049‌

1,988‌

Barclays

PLC

3.56%,

09/23/2035

(j)

2,381‌

1,961‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.90%

5.20%,

05/12/2026

1,000‌

996‌

8.00%,

06/15/2024

(g),(j),(k)

9,500‌

9,464‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.67%

BNP

Paribas

SA

1.32%,

01/13/2027

(i),(j)

632‌

567‌

Secured

Overnight

Financing

Rate

+

1.00%

1.68%,

06/30/2027

(i),(j)

700‌

622‌

Secured

Overnight

Financing

Rate

+

0.91%

2.59%,

08/12/2035

(i),(j)

900‌

707‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.05%

2.87%,

04/19/2032

(i),(j)

3,179‌

2,661‌

Secured

Overnight

Financing

Rate

+

1.39%

6.63%,

03/25/2024

(g),(i),(j),(k)

400‌

394‌

USD

Swap

Semi-Annual

5

Year

+

4.15%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

BNP

Paribas

SA  

(continued)

7.38%,

08/19/2025

(g),(i),(j),(k)

$

8,000‌

$

8,048‌

USD

Swap

Semi-Annual

5

Year

+

5.15%

BPCE

SA

3.12%,

10/19/2032

(i),(j)

1,800‌

1,431‌

Secured

Overnight

Financing

Rate

+

1.73%

3.58%,

10/19/2042

(i),(j)

1,200‌

850‌

Secured

Overnight

Financing

Rate

+

1.95%

CaixaBank

SA

2.25%,

04/17/2030

(j)

EUR

1,000‌

1,012‌

EUR

Swap

Annual

(VS

6

Month)

5

Year

+

1.68%

Canadian

Imperial

Bank

of

Commerce

3.30%,

05/26/2025

CAD

1,625‌

1,194‌

Citigroup

Inc

0.50%,

10/08/2027

(j)

EUR

1,400‌

1,345‌

3

Month

Euro

Interbank

Offered

Rate

+

0.96%

1.46%,

06/09/2027

(j)

$

2,300‌

2,048‌

Secured

Overnight

Financing

Rate

+

0.77%

2.57%,

06/03/2031

(j)

573‌

486‌

Secured

Overnight

Financing

Rate

+

2.11%

2.90%,

11/03/2042

(j)

513‌

384‌

Secured

Overnight

Financing

Rate

+

1.38%

3.67%,

07/24/2028

(j)

993‌

941‌

3

Month

USD

LIBOR

+

1.39%

3.79%,

03/17/2033

(j)

3,055‌

2,768‌

Secured

Overnight

Financing

Rate

+

1.94%

3.88%,

02/18/2026

(g),(j)

11,500‌

10,498‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.42%

4.00%,

12/10/2025

(g),(j)

11,500‌

10,639‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.60%

4.45%,

09/29/2027

3,130‌

3,071‌

5.61%,

09/29/2026

(j)

1,690‌

1,717‌

Secured

Overnight

Financing

Rate

+

1.55%

5.88%,

02/22/2033

2,908‌

3,041‌

Citizens

Financial

Group

Inc

2.64%,

09/30/2032

4,534‌

3,528‌

5.65%,

10/06/2025

(g),(j)

2,100‌

2,074‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.31%

Cooperatieve

Rabobank

UA

1.00%,

09/24/2026

(i),(j)

5,262‌

4,695‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.73%

Credit

Agricole

SA

1.25%,

01/26/2027

(i)

4,054‌

3,624‌

Secured

Overnight

Financing

Rate

+

1.78%

5.30%,

07/12/2028

(i)

2,481‌

2,533‌

7.88%,

01/23/2024

(g),(i),(j),(k)

2,000‌

1,998‌

USD

Swap

Semi-Annual

5

Year

+

4.90%

8.13%,

12/23/2025

(g),(i),(j),(k)

6,800‌

7,009‌

USD

Swap

Semi-Annual

5

Year

+

6.19%

Credit

Suisse

AG/New

York

NY

2.95%,

04/09/2025

1,350‌

1,247‌

7.50%,

02/15/2028

873‌

916‌

Credit

Suisse

Group

AG

6.25%,

12/18/2024

(g),(i),(j),(k)

3,000‌

2,633‌

USD

Swap

Semi-Annual

5

Year

+

3.46%

7.25%,

09/12/2025

(g),(i),(j),(k)

3,000‌

2,460‌

USD

Swap

Rate

NY

5

Year

+

4.33%

7.50%,

12/11/2023

(g),(j),(k)

3,000‌

2,842‌

USD

Swap

Semi-Annual

5

Year

+

4.60%

9.02%,

11/15/2033

(i),(j)

330‌

371‌

Secured

Overnight

Financing

Rate

+

5.02%

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

28

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Danske

Bank

A/S

0.98%,

09/10/2025

(i),(j)

$

930‌

$

857‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.55%

1.38%,

02/12/2030

(j)

EUR

3,700‌

3,743‌

EUR

Swap

Annual

(VS

6

Month)

5

Year

+

1.70%

3.24%,

12/20/2025

(i),(j)

$

1,899‌

1,806‌

3

Month

USD

LIBOR

+

1.59%

4.38%,

05/18/2026

(g),(j),(k)

3,000‌

2,636‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.39%

7.00%,

06/26/2025

(g),(j),(k)

2,000‌

1,940‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

7

Year

+

4.13%

Deutsche

Bank

AG/New

York

NY

2.31%,

11/16/2027

(j)

1,036‌

916‌

Secured

Overnight

Financing

Rate

+

1.22%

6.72%,

01/18/2029

(j)

190‌

200‌

Secured

Overnight

Financing

Rate

+

3.18%

Development

Bank

of

Japan

Inc

1.75%,

02/18/2025

(i)

1,920‌

1,819‌

DNB

Bank

ASA

4.88%,

11/12/2024

(g),(j),(k)

5,000‌

4,744‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.14%

Fifth

Third

Bancorp

8.25%,

03/01/2038

400‌

523‌

Fifth

Third

Bank

NA

5.85%,

10/27/2025

(j)

768‌

780‌

Secured

Overnight

Financing

Rate

+

1.23%

First

Horizon

Bank

5.75%,

05/01/2030

3,825‌

3,875‌

Goldman

Sachs

Group

Inc/The

1.00%,

03/18/2033

EUR

1,000‌

804‌

1.54%,

09/10/2027

(j)

$

1,962‌

1,732‌

Secured

Overnight

Financing

Rate

+

0.82%

2.38%,

07/21/2032

(j)

1,653‌

1,353‌

Secured

Overnight

Financing

Rate

+

1.25%

3.21%,

04/22/2042

(j)

1,460‌

1,145‌

Secured

Overnight

Financing

Rate

+

1.51%

3.50%,

11/16/2026

2,312‌

2,221‌

4.22%,

05/01/2029

(j)

1,325‌

1,278‌

3

Month

USD

LIBOR

+

1.30%

4.95%,

02/10/2025

(g),(j)

13,020‌

12,493‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.22%

5.15%,

05/22/2045

1,050‌

1,040‌

5.50%,

08/10/2024

(g),(j)

1,000‌

990‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.62%

5.70%,

11/01/2024

1,699‌

1,724‌

6.75%,

10/01/2037

4,048‌

4,536‌

HSBC

Capital

Funding

Dollar

1

LP

10.18%,

06/30/2030

(g),(j)

5,300‌

6,652‌

3

Month

USD

LIBOR

+

4.98%

HSBC

Holdings

PLC

0.73%,

08/17/2024

(j)

1,767‌

1,720‌

Secured

Overnight

Financing

Rate

+

0.53%

1.59%,

05/24/2027

(j)

868‌

769‌

Secured

Overnight

Financing

Rate

+

1.29%

2.25%,

11/22/2027

(j)

4,850‌

4,353‌

Secured

Overnight

Financing

Rate

+

1.10%

3.13%,

06/07/2028

EUR

1,100‌

1,130‌

4.18%,

12/09/2025

(j)

$

1,993‌

1,954‌

Secured

Overnight

Financing

Rate

+

1.51%

4.38%,

11/23/2026

1,500‌

1,477‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

HSBC

Holdings

PLC  

(continued)

8.11%,

11/03/2033

(j)

$

1,239‌

$

1,421‌

Secured

Overnight

Financing

Rate

+

4.25%

Huntington

Bancshares

Inc/OH

4.45%,

10/15/2027

(g),(j)

5,085‌

4,766‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

7

Year

+

4.05%

5.63%,

07/15/2030

(g),(h),(j)

5,000‌

4,911‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

10

Year

+

4.95%

Huntington

National

Bank/The

4.55%,

05/17/2028

(j)

2,080‌

2,050‌

Secured

Overnight

Financing

Rate

+

1.65%

ING

Groep

NV

1.40%,

07/01/2026

(i),(j)

3,995‌

3,639‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.10%

1.63%,

09/26/2029

(j)

EUR

2,600‌

2,668‌

EUR

Swap

Annual

(VS

6

Month)

5

Year

+

1.25%

6.50%,

04/16/2025

(g),(j),(k)

$

2,500‌

2,444‌

USD

Swap

Semi-Annual

5

Year

+

4.45%

Israel

Discount

Bank

Ltd

5.38%,

01/26/2028

(i)

2,500‌

2,494‌

JPMorgan

Chase

&

Co

0.65%,

09/16/2024

(j)

2,775‌

2,697‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

0.60%

1.09%,

03/11/2027

(j)

EUR

2,900‌

2,900‌

3

Month

Euro

Interbank

Offered

Rate

+

0.76%

2.01%,

03/13/2026

(j)

$

5,866‌

5,518‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.59%

2.07%,

06/01/2029

(j)

3,303‌

2,862‌

Secured

Overnight

Financing

Rate

+

1.02%

2.53%,

11/19/2041

(j)

5,982‌

4,289‌

Secured

Overnight

Financing

Rate

+

1.51%

2.55%,

11/08/2032

(j)

722‌

599‌

Secured

Overnight

Financing

Rate

+

1.18%

3.54%,

05/01/2028

(j)

793‌

751‌

3

Month

USD

LIBOR

+

1.38%

3.65%,

06/01/2026

(g),(j)

10,500‌

9,568‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.85%

4.91%,

07/25/2033

(j)

1,252‌

1,247‌

Secured

Overnight

Financing

Rate

+

2.08%

5.72%,

09/14/2033

(j)

2,270‌

2,342‌

Secured

Overnight

Financing

Rate

+

2.58%

6.75%,

02/01/2024

(g),(j)

6,158‌

6,220‌

3

Month

USD

LIBOR

+

3.78%

KeyBank

NA/Cleveland

OH

5.85%,

11/15/2027

1,155‌

1,210‌

KeyCorp

Capital

III

7.75%,

07/15/2029

795‌

861‌

Lloyds

Banking

Group

PLC

7.50%,

06/27/2024

(g),(j),(k)

2,533‌

2,514‌

USD

Swap

Semi-Annual

5

Year

+

4.76%

7.50%,

09/27/2025

(g),(j),(k)

300‌

297‌

USD

Swap

Semi-Annual

5

Year

+

4.50%

M&T

Bank

Corp

3.50%,

09/01/2026

(g),(j)

3,000‌

2,520‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.68%

5.00%,

08/01/2024

(g),(j)

2,585‌

2,470‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.17%

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

29

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Manufacturers

&

Traders

Trust

Co

4.70%,

01/27/2028

$

555‌

$

554‌

Mitsubishi

UFJ

Financial

Group

Inc

2.19%,

02/25/2025

267‌

253‌

4.79%,

07/18/2025

(j)

1,986‌

1,976‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.70%

Mizuho

Financial

Group

Inc

2.56%,

09/13/2025

(j)

930‌

886‌

Secured

Overnight

Financing

Rate

+

1.36%

2.56%,

09/13/2031

2,443‌

1,956‌

Morgan

Stanley

1.16%,

10/21/2025

2,097‌

1,954‌

Secured

Overnight

Financing

Rate

+

1.12%

1.51%,

07/20/2027

(j)

2,971‌

2,651‌

Secured

Overnight

Financing

Rate

+

0.86%

2.48%,

09/16/2036

(j)

461‌

357‌

Secured

Overnight

Financing

Rate

+

1.36%

2.63%,

03/09/2027

GBP

1,000‌

1,143‌

3.22%,

04/22/2042

(j)

$

1,985‌

1,586‌

Secured

Overnight

Financing

Rate

+

1.49%

3.62%,

04/01/2031

(j)

545‌

501‌

Secured

Overnight

Financing

Rate

+

3.12%

3.63%,

01/20/2027

4,338‌

4,205‌

4.68%,

07/17/2026

(j)

622‌

617‌

Secured

Overnight

Financing

Rate

+

1.67%

5.30%,

04/20/2037

(j)

1,879‌

1,822‌

Secured

Overnight

Financing

Rate

+

2.62%

6.34%,

10/18/2033

(j)

449‌

494‌

Secured

Overnight

Financing

Rate

+

2.56%

National

Australia

Bank

Ltd/New

York

2.50%,

07/12/2026

1,450‌

1,353‌

National

Bank

of

Canada

0.55%,

11/15/2024

(j)

1,887‌

1,819‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.40%

NatWest

Group

PLC

1.64%,

06/14/2027

(j)

1,419‌

1,261‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.90%

2.11%,

11/28/2031

(j)

GBP

700‌

742‌

Generic

Britain

5

Year

Government

Bond

+

1.75%

3.03%,

11/28/2035

(j)

$

4,411‌

3,508‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.35%

3.62%,

08/14/2030

(j)

GBP

900‌

1,043‌

Generic

Britain

5

Year

Government

Bond

+

3.55%

Nordea

Bank

Abp

0.50%,

05/14/2027

EUR

1,000‌

968‌

5.38%,

09/22/2027

(h),(i)

$

1,170‌

1,196‌

6.63%,

03/26/2026

(g),(h),(j),(k)

1,000‌

986‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.11%

PNC

Financial

Services

Group

Inc/The

3.40%,

09/15/2026

(g),(j)

5,000‌

4,262‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.60%

6.00%,

05/15/2027

(g),(j)

2,000‌

1,990‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.00%

6.20%,

09/15/2027

(g),(h),(j)

500‌

500‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.24%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Regions

Financial

Corp

5.75%,

06/15/2025

(g),(j)

$

2,425‌

$

2,409‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.43%

7.38%,

12/10/2037

1,901‌

2,229‌

Royal

Bank

of

Canada

0.65%,

07/29/2024

2,000‌

1,882‌

Santander

UK

Group

Holdings

PLC

3.82%,

11/03/2028

(j)

1,400‌

1,298‌

3

Month

USD

LIBOR

+

1.40%

Societe

Generale

SA

1.79%,

06/09/2027

(i),(j)

3,000‌

2,659‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.00%

3.63%,

03/01/2041

(i)

700‌

496‌

7.38%,

10/04/2023

(g),(i),(j),(k)

1,750‌

1,741‌

USD

Swap

Semi-Annual

5

Year

+

4.30%

8.00%,

09/29/2025

(g),(i),(j),(k)

2,000‌

2,025‌

USD

Swap

Rate

NY

5

Year

+

5.87%

Sovcombank

Via

Sovcom

Capital

DAC

-

Escrow

0.00%,

12/31/2049

(d)

230‌

—‌

Standard

Chartered

PLC

4.75%,

01/14/2031

(g),(j),(k)

3,450‌

2,957‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.81%

Sumitomo

Mitsui

Trust

Bank

Ltd

0.85%,

03/25/2024

(i)

2,587‌

2,464‌

SVB

Financial

Group

4.00%,

05/15/2026

(g),(j)

4,000‌

3,202‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.20%

4.25%,

11/15/2026

(g),(j)

2,000‌

1,597‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.07%

4.35%,

04/29/2028

(j)

2,645‌

2,544‌

Secured

Overnight

Financing

Rate

+

1.71%

Swedbank

AB

1.54%,

11/16/2026

(h),(i)

2,405‌

2,137‌

5.63%,

09/17/2024

(g),(j),(k)

1,000‌

970‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.13%

Texas

Capital

Bancshares

Inc

4.00%,

05/06/2031

(j)

1,741‌

1,585‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.15%

Toronto-Dominion

Bank/The

1.95%,

01/12/2027

4,519‌

4,110‌

3.22%,

07/25/2029

(j)

CAD

3,400‌

2,477‌

Canadian

Dollar

Offered

Rate

3

Month

+

1.25%

4.69%,

09/15/2027

$

1,198‌

1,205‌

5.16%,

01/10/2028

4,385‌

4,474‌

8.13%,

10/31/2082

(j)

1,300‌

1,380‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.08%

Truist

Financial

Corp

4.26%,

07/28/2026

(j)

1,236‌

1,222‌

Secured

Overnight

Financing

Rate

+

1.46%

4.80%,

09/01/2024

(g),(j)

12,275‌

11,762‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.00%

4.95%,

09/01/2025

(g),(j)

1,000‌

990‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.61%

UBS

AG/London

1.38%,

01/13/2025

(i)

2,000‌

1,876‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

30

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

UBS

Group

AG

1.49%,

08/10/2027

(i),(j)

$

1,785‌

$

1,572‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.85%

4.75%,

05/12/2028

(i),(j)

1,913‌

1,881‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.75%

4.88%,

02/12/2027

(g),(i),(j),(k)

2,000‌

1,798‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.40%

5.13%,

07/29/2026

(g),(j),(k)

700‌

663‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.86%

6.88%,

08/07/2025

(g),(j),(k)

3,000‌

2,975‌

USD

Swap

Semi-Annual

(VS

6

Month)

5

Year

+

4.59%

7.00%,

02/19/2025

(g),(j),(k)

5,000‌

5,036‌

USD

Swap

Semi-Annual

5

Year

+

4.87%

UniCredit

SpA

1.20%,

01/20/2026

(j)

EUR

2,700‌

2,747‌

3

Month

Euro

Interbank

Offered

Rate

+

1.35%

5.46%,

06/30/2035

(i),(j)

$

700‌

612‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.75%

8.00%,

06/03/2024

(g),(j),(k)

1,100‌

1,085‌

USD

Swap

Semi-Annual

5

Year

+

5.18%

US

Bancorp

2.22%,

01/27/2028

(j)

1,106‌

1,011‌

Secured

Overnight

Financing

Rate

+

0.73%

2.49%,

11/03/2036

(j)

4,788‌

3,826‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

0.95%

3.70%,

01/15/2027

(g),(j)

26,700‌

23,329‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.54%

Wells

Fargo

&

Co

2.13%,

09/24/2031

GBP

500‌

493‌

2.39%,

06/02/2028

(j)

$

198‌

179‌

Secured

Overnight

Financing

Rate

+

2.10%

3.07%,

04/30/2041

(j)

2,474‌

1,929‌

Secured

Overnight

Financing

Rate

+

2.53%

3.90%,

03/15/2026

(g),(j)

6,800‌

6,269‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.45%

4.30%,

07/22/2027

6,962‌

6,884‌

4.61%,

04/25/2053

(j)

1,237‌

1,154‌

Secured

Overnight

Financing

Rate

+

2.13%

4.75%,

12/07/2046

1,200‌

1,107‌

5.61%,

01/15/2044

1,157‌

1,201‌

Wells

Fargo

Bank

NA

6.60%,

01/15/2038

600‌

692‌

Westpac

Banking

Corp

2.89%,

02/04/2030

(j)

3,197‌

2,984‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

1.35%

Zions

Bancorp

NA

3.25%,

10/29/2029

4,002‌

3,397‌

$

521,578‌

Beverages

-

0

.75

%

Anheuser-Busch

Cos

LLC

/

Anheuser-Busch

InBev

Worldwide

Inc

4.70%,

02/01/2036

1,000‌

991‌

4.90%,

02/01/2046

4,764‌

4,650‌

Anheuser-Busch

InBev

SA/NV

1.50%,

04/18/2030

EUR

1,600‌

1,542‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Beverages

(continued)

Anheuser-Busch

InBev

Worldwide

Inc

4.35%,

06/01/2040

$

1,400‌

$

1,297‌

4.60%,

04/15/2048

2,809‌

2,657‌

Central

American

Bottling

Corp

/

CBC

Bottling

Holdco

SL

/

Beliv

Holdco

SL

5.25%,

04/27/2029

(i)

1,450‌

1,392‌

Constellation

Brands

Inc

3.75%,

05/01/2050

650‌

525‌

4.35%,

05/09/2027

3,175‌

3,138‌

5.00%,

02/02/2026

(l)

433‌

433‌

JDE

Peet's

NV

0.80%,

09/24/2024

(i)

2,400‌

2,217‌

Keurig

Dr

Pepper

Inc

3.35%,

03/15/2051

1,400‌

1,046‌

PepsiCo

Inc

2.25%,

03/19/2025

1,681‌

1,611‌

3.60%,

02/18/2028

856‌

837‌

3.90%,

07/18/2032

973‌

951‌

4.00%,

03/05/2042

437‌

407‌

$

23,694‌

Biotechnology

-

0

.18

%

Amgen

Inc

2.80%,

08/15/2041

3,038‌

2,238‌

3.15%,

02/21/2040

672‌

526‌

4.88%,

03/01/2053

636‌

605‌

CSL

Finance

PLC

4.75%,

04/27/2052

(i)

801‌

780‌

Royalty

Pharma

PLC

2.15%,

09/02/2031

2,016‌

1,602‌

$

5,751‌

Building

Materials

-

0

.30

%

Carrier

Global

Corp

3.38%,

04/05/2040

1,761‌

1,419‌

Eco

Material

Technologies

Inc

7.88%,

01/31/2027

(i)

3,650‌

3,511‌

Oscar

AcquisitionCo

LLC

/

Oscar

Finance

Inc

9.50%,

04/15/2030

(i)

3,510‌

3,141‌

Smyrna

Ready

Mix

Concrete

LLC

6.00%,

11/01/2028

(i)

1,700‌

1,552‌

$

9,623‌

Chemicals

-

0

.77

%

Albemarle

Corp

4.65%,

06/01/2027

1,548‌

1,537‌

5.65%,

06/01/2052

1,113‌

1,114‌

ASP

Unifrax

Holdings

Inc

5.25%,

09/30/2028

(i)

875‌

750‌

Braskem

Idesa

SAPI

7.45%,

11/15/2029

1,650‌

1,361‌

Braskem

Netherlands

Finance

BV

4.50%,

01/31/2030

(i)

528‌

465‌

Cabot

Corp

5.00%,

06/30/2032

1,104‌

1,076‌

Celanese

US

Holdings

LLC

5.90%,

07/05/2024

1,360‌

1,368‌

CF

Industries

Inc

5.38%,

03/15/2044

1,985‌

1,906‌

Diamond

BC

BV

4.63%,

10/01/2029

(i)

1,325‌

1,115‌

DuPont

de

Nemours

Inc

5.32%,

11/15/2038

500‌

517‌

Ecolab

Inc

1.65%,

02/01/2027

1,250‌

1,128‌

2.70%,

12/15/2051

1,849‌

1,252‌

5.25%,

01/15/2028

1,619‌

1,682‌

Nutrien

Ltd

5.95%,

11/07/2025

788‌

812‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

31

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Chemicals

(continued)

RPM

International

Inc

2.95%,

01/15/2032

$

432‌

$

356‌

4.55%,

03/01/2029

1,818‌

1,731‌

Sasol

Financing

USA

LLC

5.50%,

03/18/2031

2,475‌

2,159‌

Westlake

Corp

0.88%,

08/15/2024

1,000‌

936‌

3.13%,

08/15/2051

1,000‌

666‌

3.38%,

08/15/2061

1,559‌

1,012‌

Yara

International

ASA

7.38%,

11/14/2032

(i)

1,245‌

1,371‌

$

24,314‌

Coal

-

0

.06

%

SunCoke

Energy

Inc

4.88%,

06/30/2029

(i)

2,275‌

2,002‌

Commercial

Mortgage

Backed

Securities

-

4

.86

%

BANK

2017-BNK5

1.11%,

06/15/2060

(i),(m),(n)

42,403‌

1,788‌

BANK

2017-BNK9

1.46%,

11/15/2054

(i),(m),(n)

15,200‌

891‌

BANK

2018-BNK10

1.73%,

02/15/2061

(i),(m),(n)

31,334‌

2,306‌

BANK

2018-BNK12

1.41%,

05/15/2061

(i),(m),(n)

18,728‌

1,144‌

BANK

2018-BNK14

1.61%,

09/15/2060

(i),(m),(n)

11,466‌

816‌

BANK

2019-BNK16

1.83%,

02/15/2052

(i),(m),(n)

13,120‌

1,144‌

BANK

2019-BNK17

1.59%,

04/15/2052

(i),(m),(n)

11,541‌

898‌

BANK

2019-BNK19

1.03%,

08/15/2061

(i),(m),(n)

17,014‌

869‌

BANK

2019-BNK22

0.96%,

11/15/2062

(i),(m),(n)

18,082‌

933‌

BANK

2019-BNK23

1.01%,

12/15/2052

(i),(m),(n)

9,170‌

492‌

BANK

2019-BNK24

1.02%,

11/15/2062

(i),(m),(n)

26,932‌

1,477‌

BANK

2020-BNK25

0.92%,

01/15/2063

(i),(m),(n)

9,704‌

482‌

1.50%,

01/15/2063

(i),(m)

10,561‌

779‌

1.92%,

01/15/2063

(i),(n)

5,561‌

2,513‌

2.50%,

01/15/2063

(i)

1,550‌

989‌

BANK

2021-BNK35

1.50%,

06/15/2064

(i),(m),(n)

7,000‌

627‌

1.66%,

06/15/2064

(i),(n)

3,301‌

1,322‌

1.66%,

06/15/2064

(i),(n)

3,707‌

1,586‌

BANK

2021-BNK36

2.50%,

09/15/2064

(i),(n)

2,600‌

1,533‌

2.50%,

09/15/2064

(i),(n)

2,250‌

1,210‌

BANK

2021-BNK38

0.72%,

12/15/2064

(i),(m),(n)

10,388‌

493‌

2.50%,

12/15/2064

(i)

2,750‌

1,616‌

BANK

2022-BNK40

0.89%,

03/15/2064

(i),(m),(n)

7,663‌

455‌

Barclays

Commercial

Mortgage

Trust

2019-C3

1.77%,

05/15/2052

(i),(m),(n)

6,117‌

536‌

Barclays

Commercial

Mortgage

Trust

2019-C4

1.15%,

08/15/2052

(i),(m),(n)

13,091‌

767‌

Barclays

Commercial

Mortgage

Trust

2019-C5

1.35%,

11/15/2052

(i),(m),(n)

14,866‌

1,009‌

BBCMS

Mortgage

Trust

2020-C6

1.20%,

02/15/2053

(i),(m),(n)

7,424‌

495‌

Benchmark

2018-B1

Mortgage

Trust

1.20%,

01/15/2051

(i),(m),(n)

12,667‌

633‌

1.45%,

01/15/2051

(i),(m),(n)

30,260‌

1,723‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Mortgage

Backed

Securities

(continued)

Benchmark

2018-B3

Mortgage

Trust

1.50%,

04/10/2051

(i),(m),(n)

$

5,520‌

$

333‌

Benchmark

2018-B5

Mortgage

Trust

3.11%,

07/15/2051

(i),(n)

4,500‌

3,228‌

Benchmark

2018-B6

Mortgage

Trust

1.50%,

10/10/2051

(i),(m),(n)

37,790‌

2,504‌

Benchmark

2018-B7

Mortgage

Trust

1.86%,

05/15/2053

(i),(m),(n)

16,962‌

1,495‌

3.00%,

05/15/2053

(i)

5,000‌

3,532‌

Benchmark

2018-B8

Mortgage

Trust

1.85%,

01/15/2052

(i),(m),(n)

6,900‌

602‌

Benchmark

2019-B10

Mortgage

Trust

1.86%,

03/15/2062

(i),(m),(n)

12,985‌

1,191‌

Benchmark

2019-B11

Mortgage

Trust

1.49%,

05/15/2052

(i),(m),(n)

13,924‌

1,019‌

Benchmark

2019-B12

Mortgage

Trust

1.11%,

08/15/2052

(i),(m),(n)

13,870‌

771‌

Benchmark

2019-B13

Mortgage

Trust

1.00%,

08/15/2057

(i),(m),(n)

6,500‌

319‌

1.50%,

08/15/2057

(i),(m),(n)

4,000‌

308‌

Benchmark

2019-B14

Mortgage

Trust

1.27%,

12/15/2062

(i),(m),(n)

14,908‌

1,017‌

Benchmark

2019-B15

Mortgage

Trust

0.97%,

12/15/2072

(i),(m),(n)

24,552‌

1,268‌

Benchmark

2019-B9

Mortgage

Trust

2.00%,

03/15/2052

(i),(m),(n)

11,550‌

1,088‌

Benchmark

2020-B16

Mortgage

Trust

1.09%,

02/15/2053

(i),(m),(n)

7,615‌

455‌

Benchmark

2020-B17

Mortgage

Trust

1.41%,

03/15/2053

(i),(m),(n)

12,580‌

935‌

Benchmark

2021-B23

Mortgage

Trust

2.00%,

02/15/2054

(i)

3,000‌

1,729‌

Benchmark

2021-B27

Mortgage

Trust

2.00%,

07/15/2054

(i)

5,000‌

2,831‌

Benchmark

2021-B31

Mortgage

Trust

1.14%,

12/15/2054

(i),(m),(n)

15,995‌

1,201‌

2.25%,

12/15/2054

(i)

2,500‌

1,388‌

Benchmark

2022-B32

Mortgage

Trust

1.52%,

01/15/2055

(i),(m),(n)

13,067‌

1,237‌

Benchmark

2022-B33

Mortgage

Trust

1.62%,

03/15/2055

(i),(m),(n)

10,960‌

1,137‌

Benchmark

2022-B34

Mortgage

Trust

1.83%,

04/15/2055

(i),(m),(n)

7,270‌

874‌

Cantor

Commercial

Real

Estate

Lending

2019-CF2

1.44%,

11/15/2052

(i),(m),(n)

10,105‌

736‌

Cantor

Commercial

Real

Estate

Lending

2019-CF3

1.11%,

01/15/2053

(i),(m),(n)

11,514‌

687‌

CD

2018-CD7

Mortgage

Trust

1.75%,

08/15/2051

(i),(m),(n)

20,444‌

1,551‌

Citigroup

Commercial

Mortgage

Trust

2018-B2

1.50%,

03/10/2051

(i),(m),(n)

13,247‌

771‌

Citigroup

Commercial

Mortgage

Trust

2018-C5

3.34%,

06/10/2051

(i),(n)

1,000‌

697‌

Citigroup

Commercial

Mortgage

Trust

2019-C7

1.20%,

12/15/2072

(i),(m),(n)

15,766‌

1,014‌

Citigroup

Commercial

Mortgage

Trust

2019-GC41

0.84%,

08/10/2056

(i),(m),(n)

13,007‌

574‌

Citigroup

Commercial

Mortgage

Trust

2019-GC43

0.62%,

11/10/2052

(i),(m),(n)

11,280‌

381‌

0.62%,

11/10/2052

(i),(m),(n)

2,528‌

82‌

0.62%,

11/10/2052

(i),(m),(n)

1,750‌

56‌

3.00%,

11/10/2052

(i)

5,000‌

3,266‌

3.00%,

11/10/2052

(i)

1,750‌

808‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

32

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Mortgage

Backed

Securities

(continued)

Citigroup

Commercial

Mortgage

Trust

2020-GC46

1.07%,

02/15/2053

(i),(m),(n)

$

21,133‌

$

1,248‌

COMM

2012-CCRE1

Mortgage

Trust

2.46%,

05/15/2045

(i)

13,993‌

8,792‌

5.35%,

05/15/2045

(i),(n)

5,889‌

4,312‌

COMM

2012-CCRE4

Mortgage

Trust

4.37%,

10/15/2045

(i),(n)

1,536‌

109‌

COMM

2012-CCRE5

Mortgage

Trust

4.42%,

12/10/2045

(i),(n)

7,500‌

6,009‌

COMM

2013-CCRE6

Mortgage

Trust

0.92%,

03/10/2046

(m),(n)

6,966‌

—‌

4.04%,

03/10/2046

(i),(n)

10,215‌

7,661‌

4.04%,

03/10/2046

(i),(n)

13,750‌

9,487‌

COMM

2014-CCRE17

Mortgage

Trust

0.33%,

05/10/2047

(i),(m),(n)

44,717‌

163‌

COMM

2018-COR3

Mortgage

Trust

1.75%,

05/10/2051

(i),(m),(n)

15,800‌

1,109‌

COMM

2019-GC44

Mortgage

Trust

1.02%,

08/15/2057

(i),(m),(n)

5,500‌

309‌

CSAIL

2018-CX12

Commercial

Mortgage

Trust

1.50%,

08/15/2051

(i),(m),(n)

8,985‌

573‌

CSAIL

2019-C15

Commercial

Mortgage

Trust

1.98%,

03/15/2052

(i),(m),(n)

3,981‌

373‌

DBGS

2018-C1

Mortgage

Trust

1.75%,

10/15/2051

(i),(m),(n)

9,496‌

704‌

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates

1.50%,

01/25/2043

(m),(n)

79,054‌

1,861‌

1.63%,

06/25/2041

(m),(n)

17,292‌

52‌

1.65%,

10/25/2041

(m),(n)

43,000‌

285‌

GS

Mortgage

Securities

Corp

II

1.41%,

07/10/2051

(i),(m),(n)

8,017‌

530‌

GS

Mortgage

Securities

Trust

2013-GCJ14

4.70%,

08/10/2046

(i),(n)

2,500‌

1,807‌

GS

Mortgage

Securities

Trust

2014-GC26

1.21%,

11/10/2047

(i),(m),(n)

29,811‌

557‌

GS

Mortgage

Securities

Trust

2018-GS9

1.35%,

03/10/2051

(i),(m),(n)

8,353‌

473‌

GS

Mortgage

Securities

Trust

2019-GC40

1.16%,

07/10/2052

(i),(m),(n)

16,500‌

966‌

GS

Mortgage

Securities

Trust

2019-GSA1

1.01%,

11/10/2052

(i),(m),(n)

21,600‌

1,164‌

GS

Mortgage

Securities

Trust

2020-GC45

0.69%,

02/13/2053

(i),(m),(n)

25,009‌

931‌

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

2006-CIBC17

5.49%,

12/12/2043

(n)

4,019‌

2,889‌

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

2006-LDP9

5.34%,

05/15/2047

566‌

538‌

JPMBB

Commercial

Mortgage

Securities

Trust

2015-C28

0.50%,

10/15/2048

(i),(m),(n)

54,005‌

496‌

JPMBB

Commercial

Mortgage

Securities

Trust

2015-C31

0.50%,

08/15/2048

(i),(m),(n)

42,377‌

429‌

JPMCC

Commercial

Mortgage

Securities

Trust

2019-COR4

2.01%,

03/10/2052

(i),(m),(n)

18,869‌

1,804‌

JPMCC

Commercial

Mortgage

Securities

Trust

2019-COR5

1.77%,

06/13/2052

(i),(m),(n)

8,500‌

747‌

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2013-C11

4.40%,

08/15/2046

(n)

2,600‌

2,442‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Mortgage

Backed

Securities

(continued)

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2015-C20

1.38%,

02/15/2048

(i),(m),(n)

$

41,500‌

$

924‌

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2016-C31

1.27%,

11/15/2049

(i),(m),(n)

21,213‌

805‌

Morgan

Stanley

Capital

I

Trust

2018-H3

1.86%,

07/15/2051

(i),(m),(n)

7,682‌

601‌

Morgan

Stanley

Capital

I

Trust

2019-H6

1.57%,

06/15/2052

(i),(m),(n)

4,693‌

378‌

3.00%,

06/15/2052

(i)

2,122‌

1,458‌

Morgan

Stanley

Capital

I

Trust

2019-L3

1.16%,

11/15/2052

(i),(m),(n)

15,090‌

907‌

Morgan

Stanley

Capital

I

Trust

2020-L4

1.17%,

02/15/2053

(i),(m),(n)

13,626‌

879‌

2.50%,

02/15/2053

(i)

3,000‌

1,913‌

UBS

Commercial

Mortgage

Trust

1.76%,

10/15/2052

(i),(m),(n)

12,767‌

1,159‌

UBS

Commercial

Mortgage

Trust

2019-C18

1.44%,

12/15/2052

(i),(m),(n)

11,574‌

876‌

Wells

Fargo

Commercial

Mortgage

Trust

2015-NXS1

0.40%,

05/15/2048

(m),(n)

24,936‌

243‌

Wells

Fargo

Commercial

Mortgage

Trust

2017-C40

4.31%,

10/15/2050

(n)

5,000‌

4,347‌

Wells

Fargo

Commercial

Mortgage

Trust

2017-C42

1.56%,

12/15/2050

(i),(m),(n)

20,343‌

1,265‌

Wells

Fargo

Commercial

Mortgage

Trust

2018-C43

1.58%,

03/15/2051

(i),(m),(n)

6,614‌

433‌

Wells

Fargo

Commercial

Mortgage

Trust

2018-C44

1.82%,

05/15/2051

(i),(m),(n)

8,022‌

608‌

Wells

Fargo

Commercial

Mortgage

Trust

2018-C45

1.87%,

06/15/2051

(i),(m),(n)

2,647‌

222‌

Wells

Fargo

Commercial

Mortgage

Trust

2018-C47

1.93%,

09/15/2061

(i),(m),(n)

14,133‌

1,232‌

Wells

Fargo

Commercial

Mortgage

Trust

2019-C49

2.13%,

03/15/2052

(i),(m),(n)

4,336‌

438‌

3.00%,

03/15/2052

(i)

2,500‌

1,635‌

Wells

Fargo

Commercial

Mortgage

Trust

2019-C53

1.43%,

10/15/2052

(i),(m),(n)

8,777‌

664‌

Wells

Fargo

Commercial

Mortgage

Trust

2019-C54

1.36%,

12/15/2052

(i),(m),(n)

6,363‌

464‌

Wells

Fargo

Commercial

Mortgage

Trust

2021-C61

1.39%,

11/15/2054

(i),(m),(n)

9,132‌

821‌

$

153,703‌

Commercial

Services

-

0

.91

%

AMN

Healthcare

Inc

4.63%,

10/01/2027

(i)

1,925‌

1,786‌

ASGN

Inc

4.63%,

05/15/2028

(i)

2,075‌

1,893‌

Ford

Foundation/The

2.82%,

06/01/2070

1,905‌

1,243‌

MPH

Acquisition

Holdings

LLC

5.75%,

11/01/2028

(h),(i)

1,325‌

962‌

PROG

Holdings

Inc

6.00%,

11/15/2029

(i)

4,500‌

3,814‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

33

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Services

(continued)

Quanta

Services

Inc

3.05%,

10/01/2041

$

993‌

$

706‌

Rent-A-Center

Inc/TX

6.38%,

02/15/2029

(h),(i)

4,575‌

3,889‌

S&P

Global

Inc

2.70%,

03/01/2029

(i)

1,874‌

1,698‌

Sotheby's

7.38%,

10/15/2027

(h),(i)

6,650‌

6,387‌

Triton

Container

International

Ltd

2.05%,

04/15/2026

(i)

3,964‌

3,513‌

3.15%,

06/15/2031

(i)

2,415‌

1,942‌

ZipRecruiter

Inc

5.00%,

01/15/2030

(i)

1,125‌

979‌

$

28,812‌

Computers

-

0

.82

%

Apple

Inc

1.40%,

08/05/2028

2,918‌

2,530‌

2.65%,

05/11/2050

1,143‌

812‌

2.70%,

08/05/2051

2,243‌

1,595‌

3.00%,

06/20/2027

4,235‌

4,059‌

3.60%,

07/31/2042

GBP

850‌

961‌

3.95%,

08/08/2052

$

978‌

878‌

4.10%,

08/08/2062

1,072‌

959‌

Dell

International

LLC

/

EMC

Corp

3.38%,

12/15/2041

(i)

1,903‌

1,370‌

5.25%,

02/01/2028

756‌

762‌

5.30%,

10/01/2029

2,100‌

2,120‌

8.10%,

07/15/2036

1,488‌

1,742‌

Hewlett

Packard

Enterprise

Co

1.75%,

04/01/2026

4,357‌

3,973‌

International

Business

Machines

Corp

5.60%,

11/30/2039

800‌

855‌

KBR

Inc

4.75%,

09/30/2028

(i)

2,125‌

1,919‌

Leidos

Inc

4.38%,

05/15/2030

1,408‌

1,329‌

$

25,864‌

Cosmetics

&

Personal

Care

-

0

.17

%

GSK

Consumer

Healthcare

Capital

UK

PLC

3.13%,

03/24/2025

1,160‌

1,116‌

GSK

Consumer

Healthcare

Capital

US

LLC

3.63%,

03/24/2032

460‌

421‌

4.00%,

03/24/2052

1,595‌

1,334‌

High

Ridge

Brands

-

Escrow

0.00%,

03/15/2025

(d),(e),(f)

15,607‌

173‌

Procter

&

Gamble

Co/The

3.95%,

01/26/2028

(h)

2,215‌

2,211‌

$

5,255‌

Diversified

Financial

Services

-

2

.84

%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

6.50%,

07/15/2025

3,300‌

3,360‌

Air

Lease

Corp

2.88%,

01/15/2026

3,884‌

3,644‌

Ally

Financial

Inc

4.70%,

05/15/2026

(g),(j)

1,800‌

1,480‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.87%

American

Express

Co

3.55%,

09/15/2026

(g),(j)

10,000‌

8,848‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.85%

Bread

Financial

Holdings

Inc

4.75%,

12/15/2024

(i)

4,625‌

4,197‌

7.00%,

01/15/2026

(h),(i)

1,075‌

989‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Diversified

Financial

Services

(continued)

Capital

One

Financial

Corp

3.75%,

07/28/2026

$

800‌

$

765‌

3.95%,

09/01/2026

(g),(j)

500‌

434‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.16%

4.20%,

10/29/2025

700‌

685‌

Charles

Schwab

Corp/The

4.00%,

06/01/2026

(g),(j)

7,800‌

7,187‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.17%

Credit

Acceptance

Corp

6.63%,

03/15/2026

(h)

900‌

824‌

Discover

Financial

Services

6.13%,

06/23/2025

(g),(j)

3,000‌

2,974‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.78%

Home

Point

Capital

Inc

5.00%,

02/01/2026

(i)

1,500‌

1,081‌

Intercontinental

Exchange

Inc

3.00%,

09/15/2060

575‌

385‌

4.95%,

06/15/2052

1,457‌

1,424‌

5.20%,

06/15/2062

1,210‌

1,191‌

Mastercard

Inc

3.35%,

03/26/2030

1,375‌

1,301‌

Nationstar

Mortgage

Holdings

Inc

5.50%,

08/15/2028

(i)

1,850‌

1,616‌

NFP

Corp

4.88%,

08/15/2028

(i)

1,700‌

1,484‌

6.88%,

08/15/2028

(i)

15,123‌

13,077‌

OneMain

Finance

Corp

4.00%,

09/15/2030

2,100‌

1,675‌

6.63%,

01/15/2028

5,100‌

4,969‌

Oxford

Finance

LLC

/

Oxford

Finance

Co-Issuer

II

Inc

6.38%,

02/01/2027

(i)

4,100‌

3,921‌

Provident

Funding

Associates

LP

/

PFG

Finance

Corp

6.38%,

06/15/2025

(i)

2,855‌

2,676‌

Rocket

Mortgage

LLC

/

Rocket

Mortgage

Co-

Issuer

Inc

3.88%,

03/01/2031

(i)

1,825‌

1,486‌

4.00%,

10/15/2033

(i)

425‌

337‌

SOCAR

Turkey

Enerji

AS

via

Steas

Funding

1

DAC

7.23%,

03/17/2026

1,800‌

1,759‌

Swiss

Insured

Brazil

Power

Finance

Sarl

9.85%,

07/16/2032

(i)

BRL

12,338‌

2,090‌

Synchrony

Financial

4.50%,

07/23/2025

$

7,703‌

7,496‌

Unifin

Financiera

SAB

de

CV

8.38%,

01/27/2028

(i)

1,250‌

49‌

United

Wholesale

Mortgage

LLC

5.50%,

11/15/2025

(i)

2,450‌

2,292‌

USAA

Capital

Corp

3.38%,

05/01/2025

(h),(i)

2,113‌

2,051‌

Visa

Inc

4.30%,

12/14/2045

1,200‌

1,163‌

VistaJet

Malta

Finance

PLC

/

XO

Management

Holding

Inc

6.38%,

02/01/2030

(i)

900‌

794‌

$

89,704‌

Electric

-

3

.38

%

Adani

Electricity

Mumbai

Ltd

3.95%,

02/12/2030

(i)

3,388‌

2,528‌

AEP

Transmission

Co

LLC

3.65%,

04/01/2050

393‌

323‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

34

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electric

(continued)

AES

Corp/The

2.45%,

01/15/2031

$

829‌

$

685‌

Ameren

Illinois

Co

5.90%,

12/01/2052

266‌

309‌

American

Electric

Power

Co

Inc

5.75%,

11/01/2027

627‌

654‌

Avangrid

Inc

3.20%,

04/15/2025

4,387‌

4,218‌

CMS

Energy

Corp

3.75%,

12/01/2050

(j)

898‌

733‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.90%

4.75%,

06/01/2050

(j)

1,370‌

1,246‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.12%

Colbun

SA

3.15%,

01/19/2032

(i)

966‌

831‌

Comision

Federal

de

Electricidad

5.00%,

09/29/2036

1,496‌

1,277‌

Consolidated

Edison

Co

of

New

York

Inc

2.40%,

06/15/2031

3,000‌

2,563‌

3.60%,

06/15/2061

838‌

652‌

3.95%,

04/01/2050

1,168‌

1,000‌

6.15%,

11/15/2052

489‌

568‌

Dominion

Energy

Inc

3.38%,

04/01/2030

2,500‌

2,278‌

4.65%,

12/15/2024

(g),(j)

15,974‌

14,902‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.99%

5.75%,

10/01/2054

(j)

591‌

570‌

3

Month

USD

LIBOR

+

3.06%

Dominion

Energy

South

Carolina

Inc

5.10%,

06/01/2065

950‌

958‌

DTE

Electric

Co

3.95%,

03/01/2049

1,634‌

1,422‌

Duke

Energy

Carolinas

LLC

3.55%,

03/15/2052

730‌

590‌

Duke

Energy

Corp

3.25%,

01/15/2082

(j)

2,000‌

1,634‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.32%

3.75%,

09/01/2046

600‌

476‌

4.88%,

09/16/2024

(g),(j)

11,350‌

10,936‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.39%

Duke

Energy

Florida

LLC

5.95%,

11/15/2052

611‌

692‌

E.ON

SE

0.38%,

09/29/2027

EUR

800‌

770‌

EDP

Finance

BV

6.30%,

10/11/2027

(i)

$

755‌

792‌

Electricidad

Firme

de

Mexico

Holdings

SA

de

CV

4.90%,

11/20/2026

(i)

1,725‌

1,551‌

Emera

US

Finance

LP

4.75%,

06/15/2046

3,185‌

2,678‌

Enel

Finance

International

NV

3.50%,

04/06/2028

(i)

1,147‌

1,050‌

4.75%,

05/25/2047

(i)

683‌

582‌

7.75%,

10/14/2052

(i)

1,120‌

1,333‌

Enel

SpA

8.75%,

09/24/2073

(i),(j)

2,500‌

2,517‌

USD

Swap

Semi-Annual

5

Year

+

5.88%

Engie

Energia

Chile

SA

3.40%,

01/28/2030

(i)

1,248‌

1,045‌

Entergy

Louisiana

LLC

4.75%,

09/15/2052

455‌

439‌

Entergy

Mississippi

LLC

3.50%,

06/01/2051

611‌

473‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electric

(continued)

Entergy

Texas

Inc

4.50%,

03/30/2039

$

2,707‌

$

2,514‌

5.00%,

09/15/2052

456‌

455‌

Evergy

Missouri

West

Inc

5.15%,

12/15/2027

(i)

544‌

553‌

FirstEnergy

Transmission

LLC

4.55%,

04/01/2049

(i)

2,259‌

1,964‌

Fortis

Inc/Canada

3.06%,

10/04/2026

964‌

905‌

Georgia

Power

Co

3.25%,

03/15/2051

1,767‌

1,302‌

Interstate

Power

and

Light

Co

3.50%,

09/30/2049

1,182‌

905‌

ITC

Holdings

Corp

4.95%,

09/22/2027

(i)

1,764‌

1,783‌

Liberty

Utilities

Finance

GP

1

2.05%,

09/15/2030

(i)

829‌

656‌

National

Rural

Utilities

Cooperative

Finance

Corp

1.88%,

02/07/2025

455‌

431‌

2.85%,

01/27/2025

3,224‌

3,109‌

4.15%,

12/15/2032

13‌

12‌

4.75%,

04/30/2043

(j)

1,551‌

1,489‌

3

Month

USD

LIBOR

+

2.91%

4.80%,

03/15/2028

1,259‌

1,271‌

NextEra

Energy

Capital

Holdings

Inc

2.25%,

06/01/2030

2,700‌

2,288‌

OmGrid

Funding

Ltd

5.20%,

05/16/2027

1,200‌

1,173‌

Oncor

Electric

Delivery

Co

LLC

4.15%,

06/01/2032

1,295‌

1,267‌

Pacific

Gas

and

Electric

Co

3.95%,

12/01/2047

554‌

402‌

4.30%,

03/15/2045

2,761‌

2,104‌

4.95%,

06/08/2025

1,123‌

1,112‌

Public

Service

Co

of

Colorado

2.70%,

01/15/2051

2,717‌

1,881‌

3.70%,

06/15/2028

1,157‌

1,124‌

4.10%,

06/15/2048

1,464‌

1,295‌

Public

Service

Co

of

Oklahoma

2.20%,

08/15/2031

1,440‌

1,190‌

Southern

California

Edison

Co

1.10%,

04/01/2024

4,559‌

4,355‌

5.85%,

11/01/2027

1,081‌

1,138‌

Southern

Co/The

3.75%,

09/15/2051

(j)

3,500‌

3,046‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.92%

4.48%,

08/01/2024

(n)

1,032‌

1,021‌

Union

Electric

Co

3.90%,

04/01/2052

888‌

766‌

$

106,786‌

Electronics

-

0

.25

%

Agilent

Technologies

Inc

2.30%,

03/12/2031

1,854‌

1,555‌

Allegion

US

Holding

Co

Inc

5.41%,

07/01/2032

867‌

882‌

Flex

Ltd

6.00%,

01/15/2028

537‌

558‌

Honeywell

International

Inc

2.80%,

06/01/2050

(h)

1,600‌

1,238‌

4.95%,

02/15/2028

1,379‌

1,433‌

Trimble

Inc

4.90%,

06/15/2028

746‌

736‌

Vontier

Corp

2.95%,

04/01/2031

1,956‌

1,515‌

$

7,917‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

35

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Energy

-

Alternate

Sources

-

0

.13

%

Energo-Pro

AS

8.50%,

02/04/2027

(i)

$

2,500‌

$

2,375‌

Enviva

Partners

LP

/

Enviva

Partners

Finance

Corp

6.50%,

01/15/2026

(i)

1,950‌

1,820‌

$

4,195‌

Entertainment

-

0

.90

%

Caesars

Entertainment

Inc

4.63%,

10/15/2029

(i)

2,825‌

2,415‌

7.00%,

02/15/2030

(i),(l)

4,500‌

4,579‌

8.13%,

07/01/2027

(i)

1,025‌

1,040‌

Cinemark

USA

Inc

5.25%,

07/15/2028

(i)

4,675‌

3,832‌

5.88%,

03/15/2026

(i)

2,500‌

2,245‌

8.75%,

05/01/2025

(i)

250‌

255‌

Everi

Holdings

Inc

5.00%,

07/15/2029

(i)

2,725‌

2,466‌

Live

Nation

Entertainment

Inc

4.75%,

10/15/2027

(i)

2,600‌

2,405‌

6.50%,

05/15/2027

(i)

2,600‌

2,614‌

Speedway

Motorsports

LLC

/

Speedway

Funding

II

Inc

4.88%,

11/01/2027

(i)

2,925‌

2,731‌

Warnermedia

Holdings

Inc

3.64%,

03/15/2025

(i)

1,091‌

1,052‌

5.05%,

03/15/2042

(i)

1,064‌

908‌

5.14%,

03/15/2052

(i)

661‌

549‌

5.39%,

03/15/2062

(i)

1,758‌

1,463‌

$

28,554‌

Environmental

Control

-

0

.49

%

Covanta

Holding

Corp

4.88%,

12/01/2029

(i)

4,125‌

3,604‌

5.00%,

09/01/2030

175‌

149‌

GFL

Environmental

Inc

4.00%,

08/01/2028

(i)

300‌

266‌

4.38%,

08/15/2029

(i)

5,350‌

4,745‌

4.75%,

06/15/2029

(i)

2,375‌

2,144‌

Madison

IAQ

LLC

5.88%,

06/30/2029

(i)

2,390‌

1,896‌

Waste

Connections

Inc

2.20%,

01/15/2032

2,264‌

1,877‌

4.25%,

12/01/2028

803‌

790‌

$

15,471‌

Food

-

1

.00

%

Albertsons

Cos

Inc

/

Safeway

Inc

/

New

Albertsons

LP

/

Albertsons

LLC

3.50%,

03/15/2029

(i)

1,025‌

884‌

4.88%,

02/15/2030

(i)

600‌

552‌

Conagra

Brands

Inc

7.00%,

10/01/2028

1,312‌

1,433‌

General

Mills

Inc

5.24%,

11/18/2025

752‌

756‌

Hormel

Foods

Corp

0.65%,

06/03/2024

1,913‌

1,814‌

JBS

USA

LUX

SA

/

JBS

USA

Food

Co

/

JBS

USA

Finance

Inc

3.00%,

02/02/2029

(i)

2,000‌

1,717‌

Kraft

Heinz

Foods

Co

4.38%,

06/01/2046

2,716‌

2,372‌

4.88%,

10/01/2049

825‌

772‌

Nestle

Holdings

Inc

3.50%,

09/24/2025

(i)

2,519‌

2,467‌

Performance

Food

Group

Inc

4.25%,

08/01/2029

(i)

2,600‌

2,320‌

5.50%,

10/15/2027

(i)

4,950‌

4,764‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Food

(continued)

Post

Holdings

Inc

4.50%,

09/15/2031

(i)

$

3,150‌

$

2,717‌

4.63%,

04/15/2030

(i)

400‌

352‌

5.50%,

12/15/2029

(i)

1,050‌

974‌

Sysco

Corp

4.45%,

03/15/2048

3,133‌

2,776‌

4.50%,

04/01/2046

1,732‌

1,545‌

5.95%,

04/01/2030

198‌

212‌

6.60%,

04/01/2050

816‌

946‌

US

Foods

Inc

4.63%,

06/01/2030

(i)

100‌

89‌

4.75%,

02/15/2029

(i)

2,493‌

2,280‌

$

31,742‌

Food

Service

-

0

.13

%

Aramark

Services

Inc

5.00%,

02/01/2028

(i)

4,385‌

4,133‌

Forest

Products

&

Paper

-

0

.27

%

Georgia-Pacific

LLC

0.95%,

05/15/2026

(i)

4,385‌

3,906‌

Suzano

Austria

GmbH

3.13%,

01/15/2032

1,323‌

1,052‌

3.75%,

01/15/2031

650‌

556‌

5.00%,

01/15/2030

3,050‌

2,906‌

$

8,420‌

Gas

-

0

.19

%

Atmos

Energy

Corp

5.75%,

10/15/2052

1,320‌

1,484‌

NiSource

Inc

5.65%,

06/15/2023

(g),(j)

4,700‌

4,559‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.84%

$

6,043‌

Hand

&

Machine

Tools

-

0

.15

%

Stanley

Black

&

Decker

Inc

2.30%,

02/24/2025

2,350‌

2,237‌

4.00%,

03/15/2060

(j)

2,863‌

2,523‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.66%

$

4,760‌

Healthcare

-

Products

-

0

.41

%

Alcon

Finance

Corp

5.75%,

12/06/2052

(i)

801‌

867‌

Garden

Spinco

Corp

8.63%,

07/20/2030

(i)

2,360‌

2,525‌

GE

HealthCare

Technologies

Inc

5.65%,

11/15/2027

(i)

3,679‌

3,812‌

Medline

Borrower

LP

5.25%,

10/01/2029

(i)

1,125‌

942‌

STERIS

Irish

FinCo

UnLtd

Co

3.75%,

03/15/2051

2,351‌

1,840‌

Stryker

Corp

1.95%,

06/15/2030

2,200‌

1,854‌

Thermo

Fisher

Scientific

Inc

4.10%,

08/15/2047

1,150‌

1,077‌

$

12,917‌

Healthcare

-

Services

-

1

.44

%

Acadia

Healthcare

Co

Inc

5.00%,

04/15/2029

(i)

1,425‌

1,332‌

5.50%,

07/01/2028

(i)

1,580‌

1,522‌

Cano

Health

LLC

6.25%,

10/01/2028

(i)

5,910‌

3,768‌

Catalent

Pharma

Solutions

Inc

3.50%,

04/01/2030

(i)

1,012‌

836‌

Elevance

Health

Inc

2.88%,

09/15/2029

1,214‌

1,096‌

3.65%,

12/01/2027

1,400‌

1,350‌

6.10%,

10/15/2052

626‌

712‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

36

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Healthcare

-

Services

(continued)

Fresenius

SE

&

Co

KGaA

0.75%,

01/15/2028

EUR

2,200‌

$

2,057‌

HCA

Inc

3.50%,

09/01/2030

$

1,427‌

1,279‌

3.50%,

07/15/2051

1,736‌

1,217‌

4.63%,

03/15/2052

(i)

1,932‌

1,630‌

5.88%,

02/15/2026

690‌

702‌

Humana

Inc

1.35%,

02/03/2027

4,666‌

4,109‌

5.88%,

03/01/2033

540‌

578‌

Legacy

LifePoint

Health

LLC

4.38%,

02/15/2027

(i)

975‌

853‌

Radiology

Partners

Inc

9.25%,

02/01/2028

(i)

2,810‌

1,700‌

Roche

Holdings

Inc

2.13%,

03/10/2025

(i)

4,357‌

4,160‌

RP

Escrow

Issuer

LLC

5.25%,

12/15/2025

(i)

2,100‌

1,714‌

Surgery

Center

Holdings

Inc

10.00%,

04/15/2027

(i)

2,183‌

2,227‌

Tenet

Healthcare

Corp

4.63%,

06/15/2028

100‌

93‌

5.13%,

11/01/2027

200‌

192‌

6.13%,

10/01/2028

5,225‌

4,886‌

UnitedHealth

Group

Inc

1.25%,

01/15/2026

2,488‌

2,292‌

4.95%,

05/15/2062

612‌

616‌

5.15%,

10/15/2025

1,471‌

1,500‌

5.25%,

02/15/2028

1,126‌

1,174‌

6.05%,

02/15/2063

1,131‌

1,323‌

6.88%,

02/15/2038

550‌

672‌

$

45,590‌

Housewares

-

0

.05

%

CD&R

Smokey

Buyer

Inc

6.75%,

07/15/2025

(i)

1,221‌

1,108‌

Newell

Brands

Inc

5.63%,

04/01/2036

575‌

512‌

$

1,620‌

Insurance

-

3

.82

%

Acrisure

LLC

/

Acrisure

Finance

Inc

4.25%,

02/15/2029

(i)

900‌

747‌

7.00%,

11/15/2025

(i)

9,082‌

8,640‌

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co-Issuer

4.25%,

10/15/2027

(i)

3,225‌

2,956‌

Americo

Life

Inc

3.45%,

04/15/2031

(i)

768‌

606‌

AmWINS

Group

Inc

4.88%,

06/30/2029

(i)

5,275‌

4,627‌

Argentum

Netherlands

BV

for

Swiss

Re

Ltd

5.75%,

08/15/2050

(j)

3,000‌

2,940‌

3

Month

USD

LIBOR

+

3.59%

Argentum

Netherlands

BV

for

Zurich

Insurance

Co

Ltd

5.13%,

06/01/2048

(j)

2,000‌

1,892‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.27%

AssuredPartners

Inc

7.00%,

08/15/2025

(i)

9,612‌

9,452‌

Athene

Global

Funding

1.73%,

10/02/2026

(i)

2,671‌

2,333‌

Athene

Holding

Ltd

3.45%,

05/15/2052

1,383‌

930‌

AXA

SA

3.38%,

07/06/2047

(j)

EUR

2,400‌

2,465‌

3

Month

Euro

Interbank

Offered

Rate

+

3.75%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Insurance

(continued)

Berkshire

Hathaway

Finance

Corp

2.63%,

06/19/2059

GBP

700‌

$

581‌

Berkshire

Hathaway

Inc

1.63%,

03/16/2035

EUR

1,700‌

1,475‌

Brighthouse

Financial

Global

Funding

0.60%,

06/28/2023

(i)

$

1,502‌

1,475‌

Caisse

Nationale

de

Reassurance

Mutuelle

Agricole

Groupama

6.38%,

05/28/2024

(g),(j)

EUR

400‌

441‌

3

Month

Euro

Interbank

Offered

Rate

+

5.77%

Enstar

Group

Ltd

3.10%,

09/01/2031

$

1,732‌

1,338‌

4.95%,

06/01/2029

2,764‌

2,601‌

Equitable

Financial

Life

Global

Funding

1.30%,

07/12/2026

(i)

2,312‌

2,047‌

F&G

Annuities

&

Life

Inc

7.40%,

01/13/2028

(i)

1,653‌

1,694‌

F&G

Global

Funding

0.90%,

09/20/2024

(i)

1,772‌

1,638‌

2.30%,

04/11/2027

(i)

1,496‌

1,340‌

Liberty

Mutual

Group

Inc

4.30%,

02/01/2061

(i)

3,362‌

2,192‌

7.80%,

03/07/2087

(i)

7,361‌

8,196‌

3

Month

USD

LIBOR

+

3.58%

Liberty

Mutual

Insurance

Co

7.70%,

10/15/2097

(i)

946‌

1,078‌

Massachusetts

Mutual

Life

Insurance

Co

3.38%,

04/15/2050

(i)

650‌

498‌

MetLife

Inc

3.85%,

09/15/2025

(g),(j)

5,900‌

5,615‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.58%

9.25%,

04/08/2068

(i)

8,000‌

9,660‌

3

Month

USD

LIBOR

+

5.54%

10.75%,

08/01/2069

900‌

1,238‌

3

Month

USD

LIBOR

+

7.55%

Muenchener

Rueckversicherungs-Gesellschaft

AG

in

Muenchen

5.88%,

05/23/2042

(i),(j)

2,600‌

2,655‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.98%

New

York

Life

Global

Funding

1.85%,

08/01/2031

(i)

3,000‌

2,462‌

4.85%,

01/09/2028

(i)

1,079‌

1,099‌

Nippon

Life

Insurance

Co

5.10%,

10/16/2044

(i),(j)

5,000‌

4,945‌

USD

Swap

Semi-Annual

5

Year

+

3.65%

Progressive

Corp/The

3.00%,

03/15/2032

3,000‌

2,709‌

Prudential

Financial

Inc

5.63%,

06/15/2043

(j)

1,893‌

1,884‌

3

Month

USD

LIBOR

+

3.92%

5.70%,

09/15/2048

(j)

457‌

444‌

3

Month

USD

LIBOR

+

2.67%

Prudential

PLC

3.13%,

04/14/2030

657‌

596‌

SBL

Holdings

Inc

5.00%,

02/18/2031

(i)

1,525‌

1,268‌

Security

Benefit

Global

Funding

1.25%,

05/17/2024

(i)

1,343‌

1,269‌

Sumitomo

Life

Insurance

Co

6.50%,

09/20/2073

(h),(i),(j)

6,985‌

6,989‌

3

Month

USD

LIBOR

+

4.44%

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

37

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Insurance

(continued)

Talanx

AG

2.25%,

12/05/2047

(j)

EUR

2,000‌

$

1,908‌

3

Month

Euro

Interbank

Offered

Rate

+

2.45%

Voya

Financial

Inc

6.13%,

09/15/2023

(g),(j)

$

1,500‌

1,495‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.36%

Willis

North

America

Inc

4.65%,

06/15/2027

2,644‌

2,617‌

Zurich

Finance

Ireland

Designated

Activity

Co

3.00%,

04/19/2051

(j)

10,000‌

7,925‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.78%

$

120,960‌

Internet

-

0

.68

%

Alibaba

Group

Holding

Ltd

4.00%,

12/06/2037

800‌

699‌

Alphabet

Inc

2.00%,

08/15/2026

900‌

838‌

Amazon.com

Inc

3.30%,

04/13/2027

1,360‌

1,315‌

4.10%,

04/13/2062

2,773‌

2,434‌

4.65%,

12/01/2029

941‌

958‌

Arches

Buyer

Inc

6.13%,

12/01/2028

(i)

2,038‌

1,717‌

Baidu

Inc

2.38%,

10/09/2030

900‌

749‌

Booking

Holdings

Inc

3.60%,

06/01/2026

1,200‌

1,166‌

Cablevision

Lightpath

LLC

3.88%,

09/15/2027

(i)

2,475‌

2,104‌

5.63%,

09/15/2028

(i)

1,700‌

1,305‌

Expedia

Group

Inc

2.95%,

03/15/2031

712‌

599‌

Gen

Digital

Inc

7.13%,

09/30/2030

(i)

1,300‌

1,320‌

Meta

Platforms

Inc

4.45%,

08/15/2052

811‌

708‌

4.65%,

08/15/2062

848‌

743‌

Prosus

NV

3.68%,

01/21/2030

2,600‌

2,245‌

Rakuten

Group

Inc

4.25%,

04/22/2027

(g),(j)

EUR

700‌

538‌

EUR

Swap

Annual

(VS

6

Month)

5

Year

+

4.74%

Tencent

Holdings

Ltd

3.93%,

01/19/2038

$

1,725‌

1,478‌

3.98%,

04/11/2029

700‌

663‌

$

21,579‌

Investment

Companies

-

0

.10

%

Gaci

First

Investment

Co

5.38%,

10/13/2122

1,725‌

1,653‌

JAB

Holdings

BV

4.50%,

04/08/2052

(i)

820‌

611‌

Temasek

Financial

I

Ltd

2.75%,

08/02/2061

(i)

1,248‌

868‌

$

3,132‌

Iron

&

Steel

-

2

.55

%

ArcelorMittal

SA

6.55%,

11/29/2027

1,846‌

1,928‌

Baffinland

Iron

Mines

Corp

/

Baffinland

Iron

Mines

LP

8.75%,

07/15/2026

(i)

13,822‌

13,423‌

CSN

Inova

Ventures

6.75%,

01/28/2028

1,725‌

1,723‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Iron

&

Steel

(continued)

Material

Sciences

Corp

10.93%,

PIK

10.93%;

01/09/2024

(e),(f),(n),(o)

$

18,905‌

$

18,905‌

Nucor

Corp

3.13%,

04/01/2032

693‌

617‌

4.30%,

05/23/2027

1,217‌

1,205‌

Specialty

Steel

15.14%,

11/15/2026

(e),(f)

41,564‌

41,564‌

Vale

Overseas

Ltd

3.75%,

07/08/2030

1,600‌

1,432‌

$

80,797‌

Leisure

Products

&

Services

-

0

.11

%

Carnival

Corp

5.75%,

03/01/2027

(i)

3,550‌

2,947‌

7.63%,

03/01/2026

(i)

600‌

546‌

$

3,493‌

Lodging

-

0

.47

%

Boyd

Gaming

Corp

4.75%,

06/15/2031

(i)

2,200‌

1,980‌

Hilton

Domestic

Operating

Co

Inc

3.63%,

02/15/2032

(i)

825‌

693‌

Marriott

International

Inc/MD

2.85%,

04/15/2031

3,238‌

2,756‌

3.50%,

10/15/2032

2,766‌

2,444‌

Melco

Resorts

Finance

Ltd

5.63%,

07/17/2027

800‌

728‌

5.75%,

07/21/2028

750‌

672‌

Station

Casinos

LLC

4.63%,

12/01/2031

(i)

6,150‌

5,184‌

Studio

City

Finance

Ltd

5.00%,

01/15/2029

450‌

365‌

$

14,822‌

Machinery

-

Construction

&

Mining

-

0

.24

%

Caterpillar

Financial

Services

Corp

1.45%,

05/15/2025

2,677‌

2,503‌

1.70%,

01/08/2027

(h)

1,676‌

1,538‌

3.60%,

08/12/2027

(h)

1,095‌

1,068‌

4.80%,

01/06/2026

1,295‌

1,312‌

Komatsu

Finance

America

Inc

5.50%,

10/06/2027

(i)

1,174‌

1,221‌

$

7,642‌

Machinery

-

Diversified

-

0

.65

%

CNH

Industrial

Capital

LLC

1.88%,

01/15/2026

327‌

303‌

5.45%,

10/14/2025

544‌

553‌

John

Deere

Capital

Corp

1.30%,

10/13/2026

1,055‌

946‌

3.40%,

06/06/2025

3,345‌

3,265‌

4.75%,

01/20/2028

1,619‌

1,653‌

JPW

Industries

Holding

Corp

9.00%,

10/01/2024

(h),(i)

3,600‌

3,213‌

nVent

Finance

Sarl

2.75%,

11/15/2031

939‌

766‌

Titan

Acquisition

Ltd

/

Titan

Co-Borrower

LLC

7.75%,

04/15/2026

(i)

10,300‌

9,743‌

$

20,442‌

Media

-

1

.87

%

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

4.25%,

02/01/2031

(i)

2,425‌

2,020‌

4.25%,

01/15/2034

(i)

1,950‌

1,520‌

4.50%,

05/01/2032

675‌

559‌

4.75%,

03/01/2030

(i)

750‌

655‌

5.38%,

06/01/2029

(i)

1,575‌

1,457‌

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

3.50%,

06/01/2041

2,032‌

1,428‌

3.70%,

04/01/2051

500‌

332‌

3.85%,

04/01/2061

2,127‌

1,349‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

38

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

(continued)

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital  

(continued)

4.80%,

03/01/2050

$

1,580‌

$

1,244‌

5.38%,

04/01/2038

257‌

230‌

6.48%,

10/23/2045

1,000‌

984‌

Comcast

Corp

2.94%,

11/01/2056

441‌

301‌

4.15%,

10/15/2028

2,387‌

2,365‌

4.60%,

10/15/2038

1,622‌

1,592‌

5.25%,

11/07/2025

563‌

575‌

CSC

Holdings

LLC

4.13%,

12/01/2030

(i)

750‌

555‌

4.63%,

12/01/2030

(i)

3,151‌

1,863‌

5.25%,

06/01/2024

800‌

783‌

7.50%,

04/01/2028

(i)

625‌

457‌

Discovery

Communications

LLC

5.30%,

05/15/2049

1,985‌

1,679‌

Midcontinent

Communications

/

Midcontinent

Finance

Corp

5.38%,

08/15/2027

(i)

414‌

390‌

Nexstar

Media

Inc

5.63%,

07/15/2027

(i)

2,150‌

2,048‌

Paramount

Global

4.38%,

03/15/2043

5,063‌

3,736‌

5.85%,

09/01/2043

441‌

392‌

Radiate

Holdco

LLC

/

Radiate

Finance

Inc

6.50%,

09/15/2028

(i)

1,945‌

1,013‌

Scripps

Escrow

II

Inc

5.38%,

01/15/2031

(h),(i)

2,490‌

2,010‌

Sirius

XM

Radio

Inc

3.88%,

09/01/2031

(i)

1,175‌

969‌

4.13%,

07/01/2030

(i)

500‌

429‌

SportsNet

New

York

10.25%,

01/15/2025

(e),(f)

20,090‌

19,688‌

Time

Warner

Cable

LLC

6.55%,

05/01/2037

2,474‌

2,529‌

Virgin

Media

Finance

PLC

5.00%,

07/15/2030

(i)

3,825‌

3,211‌

Ziggo

Bond

Co

BV

6.00%,

01/15/2027

(i)

850‌

804‌

$

59,167‌

Mining

-

1

.30

%

Arconic

Corp

6.13%,

02/15/2028

(i)

6,250‌

6,005‌

Century

Aluminum

Co

7.50%,

04/01/2028

(i)

9,530‌

8,396‌

Constellium

SE

3.75%,

04/15/2029

(h),(i)

1,275‌

1,084‌

5.63%,

06/15/2028

(i)

775‌

735‌

5.88%,

02/15/2026

(i)

275‌

272‌

Corp

Nacional

del

Cobre

de

Chile

5.13%,

02/02/2033

(i),(l)

498‌

499‌

Newmont

Corp

4.88%,

03/15/2042

650‌

640‌

Northwest

Acquisitions

ULC

/

Dominion

Finco

Inc

0.00%,

11/01/2022

(d),(i)

19,888‌

—‌

Novelis

Corp

3.88%,

08/15/2031

(i)

425‌

359‌

4.75%,

01/30/2030

(i)

1,214‌

1,099‌

Real

Alloy

Holding

Inc

14.73%,

05/31/2025

(e),(f),(n)

17,944‌

17,944‌

South32

Treasury

Ltd

4.35%,

04/14/2032

(i)

2,489‌

2,241‌

Stillwater

Mining

Co

4.50%,

11/16/2029

2,250‌

1,928‌

$

41,202‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Miscellaneous

Manufacturers

-

0

.24

%

3M

Co

4.00%,

09/14/2048

(h)

$

1,000‌

$

838‌

Illinois

Tool

Works

Inc

3.90%,

09/01/2042

1,000‌

911‌

Parker-Hannifin

Corp

4.25%,

09/15/2027

1,431‌

1,415‌

Siemens

Financieringsmaatschappij

NV

0.25%,

06/05/2024

EUR

1,000‌

1,046‌

3.25%,

05/27/2025

(i)

$

3,549‌

3,451‌

$

7,661‌

Oil

&

Gas

-

2

.85

%

BP

Capital

Markets

America

Inc

2.72%,

01/12/2032

1,500‌

1,311‌

3.00%,

02/24/2050

2,340‌

1,708‌

3.54%,

04/06/2027

3,951‌

3,836‌

BP

Capital

Markets

PLC

4.88%,

03/22/2030

(g),(j)

10,960‌

10,234‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.40%

Callon

Petroleum

Co

7.50%,

06/15/2030

(h),(i)

1,100‌

1,064‌

Chesapeake

Energy

Corp

6.75%,

04/15/2029

(i)

1,025‌

1,011‌

Chevron

Corp

1.55%,

05/11/2025

1,538‌

1,448‌

Chevron

USA

Inc

4.20%,

10/15/2049

667‌

593‌

CNX

Resources

Corp

7.38%,

01/15/2031

(h),(i)

1,550‌

1,507‌

Comstock

Resources

Inc

5.88%,

01/15/2030

(i)

5,125‌

4,395‌

6.75%,

03/01/2029

(i)

525‌

484‌

ConocoPhillips

Co

2.40%,

03/07/2025

2,600‌

2,489‌

Diamondback

Energy

Inc

4.40%,

03/24/2051

1,653‌

1,371‌

6.25%,

03/15/2053

1,789‌

1,871‌

Ecopetrol

SA

6.88%,

04/29/2030

1,725‌

1,617‌

Energean

Israel

Finance

Ltd

5.88%,

03/30/2031

(i)

3,075‌

2,775‌

Energean

PLC

6.50%,

04/30/2027

1,000‌

936‌

EQT

Corp

3.63%,

05/15/2031

(h),(i)

3,541‌

3,099‌

Exxon

Mobil

Corp

4.23%,

03/19/2040

500‌

478‌

Gazprom

PJSC

via

Gaz

Finance

PLC

4.60%,

10/26/2025

(g),(i),(j)

2,825‌

1,594‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.26%

Hess

Corp

6.00%,

01/15/2040

608‌

635‌

HF

Sinclair

Corp

5.88%,

04/01/2026

3,085‌

3,112‌

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co

6.00%,

02/01/2031

(i)

1,525‌

1,410‌

6.25%,

04/15/2032

(i)

2,425‌

2,238‌

KazMunayGas

National

Co

JSC

5.38%,

04/24/2030

2,750‌

2,536‌

Kosmos

Energy

Ltd

7.13%,

04/04/2026

2,075‌

1,876‌

Leviathan

Bond

Ltd

6.50%,

06/30/2027

(i)

3,650‌

3,591‌

Marathon

Oil

Corp

6.60%,

10/01/2037

1,336‌

1,414‌

MC

Brazil

Downstream

Trading

SARL

7.25%,

06/30/2031

(i)

34‌

30‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

39

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Oil

&

Gas

(continued)

MEG

Energy

Corp

5.88%,

02/01/2029

(i)

$

1,125‌

$

1,074‌

Occidental

Petroleum

Corp

6.20%,

03/15/2040

700‌

707‌

6.45%,

09/15/2036

1,075‌

1,131‌

6.60%,

03/15/2046

3,100‌

3,301‌

8.88%,

07/15/2030

1,700‌

2,002‌

Permian

Resources

Operating

LLC

5.88%,

07/01/2029

(i)

3,125‌

2,929‌

Petroleos

de

Venezuela

SA

0.00%,

11/17/2021

(d)

17,250‌

776‌

0.00%,

05/16/2024

(d)

38,002‌

1,853‌

0.00%,

11/15/2026

(d)

12,045‌

542‌

0.00%,

04/12/2027

(d)

425‌

19‌

0.00%,

05/17/2035

(d)

536‌

24‌

Petroleos

Mexicanos

5.35%,

02/12/2028

850‌

741‌

6.63%,

06/15/2035

3,650‌

2,865‌

6.70%,

02/16/2032

790‌

656‌

Phillips

66

3.85%,

04/09/2025

2,100‌

2,067‌

Santos

Finance

Ltd

3.65%,

04/29/2031

(i)

898‌

754‌

Southwestern

Energy

Co

4.75%,

02/01/2032

700‌

617‌

Sunoco

LP

/

Sunoco

Finance

Corp

4.50%,

05/15/2029

252‌

228‌

4.50%,

04/30/2030

1,300‌

1,158‌

5.88%,

03/15/2028

75‌

74‌

Tengizchevroil

Finance

Co

International

Ltd

4.00%,

08/15/2026

1,075‌

959‌

TotalEnergies

SE

2.63%,

02/26/2025

(g),(j)

EUR

1,600‌

1,651‌

EUR

Swap

Annual

(VS

6

Month)

5

Year

+

2.15%

Transocean

Inc

8.75%,

02/15/2030

(h),(i)

$

825‌

851‌

Valero

Energy

Corp

2.80%,

12/01/2031

1,000‌

854‌

6.63%,

06/15/2037

200‌

223‌

Var

Energi

ASA

7.50%,

01/15/2028

(i)

1,498‌

1,564‌

$

90,283‌

Oil

&

Gas

Services

-

0

.10

%

Halliburton

Co

4.75%,

08/01/2043

1,256‌

1,163‌

4.85%,

11/15/2035

1,037‌

1,015‌

Schlumberger

Holdings

Corp

3.90%,

05/17/2028

(i)

1,129‌

1,079‌

$

3,257‌

Packaging

&

Containers

-

1

.10

%

Amcor

Flexibles

North

America

Inc

2.69%,

05/25/2031

1,885‌

1,594‌

4.00%,

05/17/2025

1,931‌

1,890‌

Ardagh

Metal

Packaging

Finance

USA

LLC

/

Ardagh

Metal

Packaging

Finance

PLC

4.00%,

09/01/2029

(i)

6,050‌

5,002‌

Intelligent

Packaging

Ltd

Finco

Inc

/

Intelligent

Packaging

Ltd

Co-Issuer

LLC

6.00%,

09/15/2028

(i)

1,020‌

901‌

Sonoco

Products

Co

1.80%,

02/01/2025

4,690‌

4,395‌

Trident

TPI

Holdings

Inc

6.63%,

11/01/2025

(i)

11,674‌

10,434‌

9.25%,

08/01/2024

(i)

5,210‌

5,085‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Packaging

&

Containers

(continued)

Trivium

Packaging

Finance

BV

5.50%,

08/15/2026

(i)

$

5,825‌

$

5,592‌

$

34,893‌

Pharmaceuticals

-

1

.34

%

AbbVie

Inc

4.05%,

11/21/2039

5,732‌

5,165‌

4.25%,

11/21/2049

3,070‌

2,748‌

AmerisourceBergen

Corp

3.45%,

12/15/2027

540‌

516‌

4.30%,

12/15/2047

1,180‌

1,057‌

AstraZeneca

PLC

4.00%,

01/17/2029

1,150‌

1,138‌

Bayer

Capital

Corp

BV

1.50%,

06/26/2026

EUR

1,300‌

1,321‌

Becton

Dickinson

and

Co

4.30%,

08/22/2032

$

635‌

620‌

Bristol-Myers

Squibb

Co

0.75%,

11/13/2025

1,619‌

1,469‌

3.90%,

02/20/2028

1,579‌

1,558‌

Cardinal

Health

Inc

4.60%,

03/15/2043

1,706‌

1,502‌

Cigna

Corp

3.40%,

03/15/2050

2,554‌

1,938‌

3.88%,

10/15/2047

599‌

494‌

4.80%,

08/15/2038

2,500‌

2,448‌

CVS

Health

Corp

4.78%,

03/25/2038

3,722‌

3,563‌

5.05%,

03/25/2048

700‌

665‌

5.13%,

07/20/2045

595‌

573‌

Johnson

&

Johnson

1.65%,

05/20/2035

EUR

1,500‌

1,394‌

Merck

&

Co

Inc

1.70%,

06/10/2027

$

1,250‌

1,129‌

Mylan

Inc

5.20%,

04/15/2048

200‌

165‌

Organon

&

Co

/

Organon

Foreign

Debt

Co-Issuer

BV

5.13%,

04/30/2031

(i)

1,150‌

1,038‌

Pfizer

Inc

2.55%,

05/28/2040

4,000‌

3,078‌

Sanofi

1.88%,

03/21/2038

EUR

1,700‌

1,569‌

Shire

Acquisitions

Investments

Ireland

DAC

3.20%,

09/23/2026

$

1,914‌

1,829‌

Utah

Acquisition

Sub

Inc

3.95%,

06/15/2026

1,275‌

1,216‌

Viatris

Inc

3.85%,

06/22/2040

1,418‌

1,035‌

4.00%,

06/22/2050

3,638‌

2,522‌

Zoetis

Inc

5.40%,

11/14/2025

541‌

553‌

$

42,303‌

Pipelines

-

2

.11

%

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp

5.38%,

06/15/2029

(i)

2,050‌

1,904‌

5.75%,

01/15/2028

(i)

825‌

789‌

Boardwalk

Pipelines

LP

3.60%,

09/01/2032

862‌

749‌

Buckeye

Partners

LP

4.50%,

03/01/2028

(i)

1,025‌

936‌

5.60%,

10/15/2044

375‌

286‌

5.85%,

11/15/2043

1,450‌

1,109‌

CNX

Midstream

Partners

LP

4.75%,

04/15/2030

(i)

1,775‌

1,502‌

CQP

Holdco

LP

/

BIP-V

Chinook

Holdco

LLC

5.50%,

06/15/2031

(i)

2,005‌

1,826‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

40

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Pipelines

(continued)

Crestwood

Midstream

Partners

LP

/

Crestwood

Midstream

Finance

Corp

7.38%,

02/01/2031

(i)

$

250‌

$

252‌

Enbridge

Inc

2.50%,

08/01/2033

2,700‌

2,205‌

6.00%,

01/15/2077

(j)

3,400‌

3,231‌

3

Month

USD

LIBOR

+

3.89%

6.25%,

03/01/2078

(j)

5,600‌

5,329‌

3

Month

USD

LIBOR

+

3.64%

Energy

Transfer

LP

4.90%,

03/15/2035

526‌

495‌

4.95%,

05/15/2028

1,402‌

1,384‌

5.35%,

05/15/2045

1,482‌

1,350‌

5.75%,

02/15/2033

759‌

780‌

6.13%,

12/15/2045

828‌

828‌

EnLink

Midstream

LLC

6.50%,

09/01/2030

(i)

1,550‌

1,579‌

Enterprise

Products

Operating

LLC

3.20%,

02/15/2052

944‌

676‌

5.25%,

08/16/2077

(j)

526‌

459‌

3

Month

USD

LIBOR

+

3.03%

EQM

Midstream

Partners

LP

4.75%,

01/15/2031

(i)

1,625‌

1,374‌

Genesis

Energy

LP

/

Genesis

Energy

Finance

Corp

8.00%,

01/15/2027

2,705‌

2,670‌

8.88%,

04/15/2030

1,150‌

1,169‌

Gray

Oak

Pipeline

LLC

2.00%,

09/15/2023

(i)

1,226‌

1,198‌

3.45%,

10/15/2027

(i)

1,974‌

1,777‌

Hess

Midstream

Operations

LP

5.50%,

10/15/2030

(i)

1,050‌

979‌

Holly

Energy

Partners

LP

/

Holly

Energy

Finance

Corp

5.00%,

02/01/2028

(i)

2,625‌

2,444‌

New

Fortress

Energy

Inc

6.75%,

09/15/2025

(i)

1,375‌

1,315‌

ONEOK

Partners

LP

6.65%,

10/01/2036

3,238‌

3,430‌

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp

4.30%,

01/31/2043

805‌

623‌

6.65%,

01/15/2037

1,162‌

1,207‌

Rockies

Express

Pipeline

LLC

4.80%,

05/15/2030

(i)

1,375‌

1,224‌

4.95%,

07/15/2029

(i)

400‌

362‌

Sabine

Pass

Liquefaction

LLC

5.90%,

09/15/2037

(i)

752‌

780‌

Targa

Resources

Partners

LP

/

Targa

Resources

Partners

Finance

Corp

4.00%,

01/15/2032

759‌

663‌

6.50%,

07/15/2027

2,423‌

2,480‌

Transcanada

Trust

5.60%,

03/07/2082

(j)

5,800‌

5,191‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.99%

5.88%,

08/15/2076

(j)

4,230‌

4,113‌

3

Month

USD

LIBOR

+

4.64%

Venture

Global

Calcasieu

Pass

LLC

6.25%,

01/15/2030

(i)

1,025‌

1,044‌

Western

Midstream

Operating

LP

5.30%,

03/01/2048

2,200‌

1,925‌

Williams

Cos

Inc/The

5.75%,

06/24/2044

2,229‌

2,274‌

6.30%,

04/15/2040

900‌

975‌

$

66,886‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Real

Estate

-

0

.19

%

Country

Garden

Holdings

Co

Ltd

2.70%,

07/12/2026

$

200‌

$

130‌

3.13%,

10/22/2025

700‌

480‌

4.20%,

02/06/2026

1,400‌

959‌

5.40%,

05/27/2025

300‌

228‌

7.25%,

04/08/2026

200‌

152‌

MAF

Global

Securities

Ltd

7.88%,

06/30/2027

(g),(j)

3,025‌

3,136‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.89%

Ontario

Teachers'

Cadillac

Fairview

Properties

Trust

2.50%,

10/15/2031

(i)

830‌

652‌

Powerlong

Real

Estate

Holdings

Ltd

6.95%,

07/23/2023

350‌

118‌

Scenery

Journey

Ltd

0.00%,

11/06/2022

(d)

1,200‌

82‌

$

5,937‌

REITs

-

0

.50

%

American

Tower

Corp

3.10%,

06/15/2050

1,050‌

708‌

Corporate

Office

Properties

LP

2.90%,

12/01/2033

563‌

413‌

Crown

Castle

Inc

2.90%,

04/01/2041

1,350‌

992‌

5.00%,

01/11/2028

1,080‌

1,093‌

5.20%,

02/15/2049

525‌

503‌

Host

Hotels

&

Resorts

LP

3.50%,

09/15/2030

2,374‌

2,031‌

LXP

Industrial

Trust

2.38%,

10/01/2031

828‌

652‌

National

Health

Investors

Inc

3.00%,

02/01/2031

1,492‌

1,133‌

Office

Properties

Income

Trust

3.45%,

10/15/2031

677‌

475‌

Omega

Healthcare

Investors

Inc

3.25%,

04/15/2033

3,212‌

2,416‌

3.38%,

02/01/2031

1,084‌

877‌

Scentre

Group

Trust

2

4.75%,

09/24/2080

(i),(j)

1,400‌

1,306‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.38%

Vornado

Realty

LP

2.15%,

06/01/2026

892‌

770‌

Welltower

OP

LLC

4.00%,

06/01/2025

1,400‌

1,369‌

Weyerhaeuser

Co

4.00%,

03/09/2052

1,111‌

924‌

$

15,662‌

Retail

-

1

.25

%

1011778

BC

ULC

/

New

Red

Finance

Inc

4.00%,

10/15/2030

(i)

5,775‌

4,916‌

4.38%,

01/15/2028

(i)

475‌

437‌

AutoZone

Inc

4.75%,

02/01/2033

531‌

528‌

Dollar

Tree

Inc

4.20%,

05/15/2028

2,800‌

2,753‌

Home

Depot

Inc/The

4.25%,

04/01/2046

800‌

747‌

4.50%,

12/06/2048

900‌

868‌

IRB

Holding

Corp

7.00%,

06/15/2025

(i)

1,575‌

1,581‌

Kohl's

Corp

5.55%,

07/17/2045

957‌

629‌

LBM

Acquisition

LLC

6.25%,

01/15/2029

(i)

2,125‌

1,615‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

41

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Retail

(continued)

Lowe's

Cos

Inc

3.00%,

10/15/2050

$

600‌

$

412‌

3.10%,

05/03/2027

544‌

517‌

4.45%,

04/01/2062

811‌

685‌

LSF9

Atlantis

Holdings

LLC

/

Victra

Finance

Corp

7.75%,

02/15/2026

(i)

5,075‌

4,631‌

McDonald's

Corp

3.50%,

07/01/2027

1,153‌

1,115‌

3.63%,

09/01/2049

1,818‌

1,490‌

O'Reilly

Automotive

Inc

3.60%,

09/01/2027

1,102‌

1,062‌

Park

River

Holdings

Inc

6.75%,

08/01/2029

(i)

1,275‌

905‌

Specialty

Building

Products

Holdings

LLC

/

SBP

Finance

Corp

6.38%,

09/30/2026

(i)

3,250‌

2,924‌

SRS

Distribution

Inc

6.00%,

12/01/2029

(i)

1,625‌

1,388‌

Suburban

Propane

Partners

LP/Suburban

Energy

Finance

Corp

5.00%,

06/01/2031

(i)

800‌

696‌

Target

Corp

1.95%,

01/15/2027

(h)

4,049‌

3,735‌

4.80%,

01/15/2053

1,044‌

1,055‌

Walmart

Inc

2.85%,

07/08/2024

4,437‌

4,342‌

5.63%,

03/27/2034

GBP

450‌

630‌

$

39,661‌

Savings

&

Loans

-

0

.17

%

Nationwide

Building

Society

2.00%,

07/25/2029

(j)

EUR

2,700‌

2,805‌

EUR

Swap

Annual

(VS

6

Month)

5

Year

+

1.50%

New

York

Community

Bancorp

Inc

5.90%,

11/06/2028

(j)

$

2,607‌

2,567‌

3

Month

USD

LIBOR

+

2.78%

$

5,372‌

Semiconductors

-

0

.34

%

Broadcom

Inc

2.45%,

02/15/2031

(i)

2,408‌

1,977‌

3.19%,

11/15/2036

(i)

2,193‌

1,677‌

Intel

Corp

4.15%,

08/05/2032

(h)

2,297‌

2,194‌

4.90%,

08/05/2052

441‌

416‌

KLA

Corp

4.95%,

07/15/2052

1,210‌

1,215‌

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA

Inc

2.70%,

05/01/2025

900‌

856‌

QUALCOMM

Inc

6.00%,

05/20/2053

621‌

712‌

Texas

Instruments

Inc

4.10%,

08/16/2052

459‌

437‌

4.60%,

02/15/2028

1,074‌

1,095‌

$

10,579‌

Software

-

1

.17

%

ACI

Worldwide

Inc

5.75%,

08/15/2026

(i)

375‌

370‌

Clarivate

Science

Holdings

Corp

3.88%,

07/01/2028

(i)

2,375‌

2,119‌

4.88%,

07/01/2029

(i)

3,725‌

3,278‌

CWT

Travel

Group

Inc

8.50%,

11/19/2026

(i)

7,000‌

5,897‌

Fidelity

National

Information

Services

Inc

5.63%,

07/15/2052

968‌

975‌

Fiserv

Inc

4.40%,

07/01/2049

1,845‌

1,584‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Software

(continued)

Microsoft

Corp

2.92%,

03/17/2052

$

4,223‌

$

3,228‌

Oracle

Corp

2.30%,

03/25/2028

4,229‌

3,777‌

3.60%,

04/01/2040

1,500‌

1,188‌

3.80%,

11/15/2037

3,500‌

2,942‌

4.00%,

11/15/2047

908‌

720‌

Playtika

Holding

Corp

4.25%,

03/15/2029

(i)

5,200‌

4,315‌

SS&C

Technologies

Inc

5.50%,

09/30/2027

(i)

3,350‌

3,222‌

Twilio

Inc

3.88%,

03/15/2031

1,750‌

1,445‌

ZoomInfo

Technologies

LLC/ZoomInfo

Finance

Corp

3.88%,

02/01/2029

(i)

2,075‌

1,790‌

$

36,850‌

Sovereign

-

2

.27

%

1MDB

Global

Investments

Ltd

4.40%,

03/09/2023

400‌

393‌

Angolan

Government

International

Bond

8.00%,

11/26/2029

(i)

1,650‌

1,529‌

8.00%,

11/26/2029

1,500‌

1,390‌

Bahamas

Government

International

Bond

6.00%,

11/21/2028

1,550‌

1,259‌

9.00%,

06/16/2029

(i)

500‌

452‌

Benin

Government

International

Bond

4.88%,

01/19/2032

(i)

EUR

1,525‌

1,301‌

Bonos

de

la

Tesoreria

de

la

Republica

en

pesos

5.80%,

06/01/2024

(i)

CLP

2,575,000‌

3,161‌

Brazil

Notas

do

Tesouro

Nacional

Serie

F

9.76%,

01/01/2027

BRL

14,400‌

2,599‌

Czech

Republic

Government

Bond

1.00%,

06/26/2026

CZK

36,100‌

1,445‌

1.25%,

02/14/2025

34,000‌

1,427‌

2.40%,

09/17/2025

34,000‌

1,438‌

Dominican

Republic

International

Bond

6.85%,

01/27/2045

$

2,725‌

2,482‌

Ecuador

Government

International

Bond

2.50%,

07/31/2035

(n)

3,975‌

1,927‌

El

Salvador

Government

International

Bond

7.65%,

06/15/2035

3,938‌

1,896‌

Hungary

Government

Bond

16.03%,

04/22/2027

HUF

600,000‌

1,681‌

3

Month

Budapest

Interbank

Offered

Rate

+

0.00%

Hungary

Government

International

Bond

6.13%,

05/22/2028

(i)

$

2,400‌

2,481‌

Indonesia

Treasury

Bond

7.00%,

02/15/2033

IDR

37,000,000‌

2,510‌

7.50%,

05/15/2038

15,000,000‌

1,049‌

Iraq

International

Bond

5.80%,

01/15/2028

$

3,404‌

3,150‌

Istanbul

Metropolitan

Municipality

10.75%,

04/12/2027

(i)

1,925‌

1,898‌

Ivory

Coast

Government

International

Bond

5.25%,

03/22/2030

EUR

1,750‌

1,605‌

5.75%,

12/31/2032

(n)

$

1,851‌

1,700‌

Mexican

Bonos

7.75%,

11/23/2034

MXN

87,000‌

4,306‌

Mexico

Government

International

Bond

4.28%,

08/14/2041

$

3,161‌

2,592‌

6.35%,

02/09/2035

594‌

631‌

Montenegro

Government

International

Bond

2.88%,

12/16/2027

EUR

1,725‌

1,484‌

Nigeria

Government

International

Bond

8.38%,

03/24/2029

$

1,725‌

1,434‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

42

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Sovereign

(continued)

Pakistan

Government

International

Bond

6.88%,

12/05/2027

$

975‌

$

410‌

7.38%,

04/08/2031

950‌

395‌

Republic

of

Cameroon

International

Bond

5.95%,

07/07/2032

(i)

EUR

1,800‌

1,491‌

Republic

of

Italy

Government

International

Bond

3.88%,

05/06/2051

$

1,013‌

723‌

Republic

of

South

Africa

Government

Bond

8.88%,

02/28/2035

ZAR

64,800‌

3,217‌

Republic

of

South

Africa

Government

International

Bond

4.85%,

09/30/2029

$

2,425‌

2,209‌

Republic

of

Uzbekistan

International

Bond

5.38%,

02/20/2029

1,200‌

1,123‌

Romania

Government

Bond

5.85%,

04/26/2023

RON

8,000‌

1,764‌

Romanian

Government

International

Bond

6.63%,

02/17/2028

(i)

$

3,200‌

3,314‌

Senegal

Government

International

Bond

4.75%,

03/13/2028

EUR

2,175‌

2,089‌

5.38%,

06/08/2037

(i)

700‌

532‌

Serbia

International

Bond

6.25%,

05/26/2028

(i)

$

1,700‌

1,725‌

State

Agency

of

Roads

of

Ukraine

0.00%,

06/24/2030

(d)

2,600‌

465‌

Tunisian

Republic

5.75%,

01/30/2025

1,225‌

796‌

6.38%,

07/15/2026

EUR

1,050‌

683‌

Ukraine

Government

International

Bond

0.00%,

09/01/2028

(d)

$

3,075‌

670‌

Venezuela

Government

International

Bond

0.00%,

10/13/2019

(d)

15,701‌

942‌

$

71,768‌

Supranational

Bank

-

0

.32

%

Asian

Infrastructure

Investment

Bank/The

0.50%,

10/30/2024

1,400‌

1,305‌

European

Bank

for

Reconstruction

&

Development

1.50%,

02/13/2025

2,203‌

2,085‌

Inter-American

Development

Bank

1.13%,

07/20/2028

3,400‌

2,956‌

International

Bank

for

Reconstruction

&

Development

0.75%,

11/24/2027

2,772‌

2,407‌

3.13%,

11/20/2025

1,421‌

1,388‌

$

10,141‌

Telecommunications

-

2

.51

%

America

Movil

SAB

de

CV

2.88%,

05/07/2030

2,600‌

2,295‌

3.63%,

04/22/2029

1,100‌

1,029‌

AT&T

Inc

2.45%,

03/15/2035

EUR

2,400‌

2,177‌

3.50%,

09/15/2053

$

400‌

295‌

3.85%,

06/01/2060

661‌

501‌

4.38%,

09/14/2029

GBP

900‌

1,076‌

4.50%,

05/15/2035

$

3,566‌

3,389‌

4.75%,

05/15/2046

1,913‌

1,763‌

4.90%,

08/15/2037

3,360‌

3,258‌

Axian

Telecom

7.38%,

02/16/2027

(i)

1,825‌

1,681‌

British

Telecommunications

PLC

3.25%,

11/08/2029

(i)

3,100‌

2,770‌

C&W

Senior

Financing

DAC

6.88%,

09/15/2027

(i)

3,075‌

2,925‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Telecommunications

(continued)

CommScope

Inc

4.75%,

09/01/2029

(i)

$

2,575‌

$

2,143‌

7.13%,

07/01/2028

(i)

350‌

274‌

8.25%,

03/01/2027

(i)

525‌

447‌

CommScope

Technologies

LLC

6.00%,

06/15/2025

(i)

2,793‌

2,645‌

Corning

Inc

5.45%,

11/15/2079

2,350‌

2,255‌

CT

Trust

5.13%,

02/03/2032

(i)

1,200‌

1,046‌

Digicel

International

Finance

Ltd/Digicel

international

Holdings

Ltd

8.75%,

05/25/2024

(i)

450‌

387‌

8.75%,

05/25/2024

3,475‌

2,989‌

Iliad

Holding

SASU

7.00%,

10/15/2028

(i)

1,000‌

939‌

Koninklijke

KPN

NV

5.75%,

09/17/2029

GBP

1,400‌

1,784‌

Level

3

Financing

Inc

4.25%,

07/01/2028

(i)

$

1,625‌

1,288‌

4.63%,

09/15/2027

(i)

125‌

106‌

Liquid

Telecommunications

Financing

Plc

5.50%,

09/04/2026

(i)

1,825‌

1,392‌

NTT

Finance

Corp

1.16%,

04/03/2026

(i)

1,663‌

1,492‌

4.37%,

07/27/2027

(i)

664‌

664‌

Telefonica

Emisiones

SA

4.90%,

03/06/2048

1,757‌

1,489‌

TELUS

Corp

3.30%,

05/02/2029

CAD

3,400‌

2,387‌

T-Mobile

USA

Inc

3.00%,

02/15/2041

$

4,913‌

3,664‌

3.60%,

11/15/2060

905‌

651‌

Total

Play

Telecomunicaciones

SA

de

CV

7.50%,

11/12/2025

1,500‌

1,399‌

Turk

Telekomunikasyon

AS

4.88%,

06/19/2024

1,050‌

989‌

Verizon

Communications

Inc

2.50%,

05/16/2030

CAD

1,000‌

658‌

2.85%,

09/03/2041

$

2,318‌

1,716‌

3.00%,

11/20/2060

1,761‌

1,148‌

3.40%,

03/22/2041

2,007‌

1,615‌

3.88%,

03/01/2052

772‌

634‌

4.40%,

11/01/2034

1,253‌

1,205‌

4.81%,

03/15/2039

400‌

387‌

4.86%,

08/21/2046

550‌

531‌

Viasat

Inc

5.63%,

09/15/2025

(i)

4,550‌

4,277‌

5.63%,

04/15/2027

(i)

725‌

676‌

6.50%,

07/15/2028

(i)

2,330‌

1,870‌

Vmed

O2

UK

Financing

I

PLC

4.25%,

01/31/2031

(i)

3,450‌

2,881‌

Vodafone

Group

PLC

4.38%,

02/19/2043

443‌

382‌

5.00%,

05/30/2038

825‌

815‌

5.13%,

06/04/2081

(j)

8,100‌

6,227‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.07%

5.25%,

05/30/2048

791‌

752‌

$

79,363‌

Transportation

-

0

.79

%

BNSF

Funding

Trust

I

6.61%,

12/15/2055

(j)

4,510‌

4,329‌

3

Month

USD

LIBOR

+

2.35%

Burlington

Northern

Santa

Fe

LLC

4.45%,

03/15/2043

1,192‌

1,139‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

43

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Transportation

(continued)

Canadian

National

Railway

Co

4.40%,

08/05/2052

$

883‌

$

839‌

Canadian

Pacific

Railway

Co

1.35%,

12/02/2024

2,411‌

2,266‌

3.00%,

12/02/2041

401‌

318‌

CSX

Corp

4.50%,

11/15/2052

1,009‌

936‌

FedEx

Corp

5.25%,

05/15/2050

(h)

550‌

539‌

FedEx

Corp

2020-1

Class

AA

Pass

Through

Trust

1.88%,

08/20/2035

3,034‌

2,510‌

Georgian

Railway

JSC

4.00%,

06/17/2028

(i)

1,100‌

968‌

Kansas

City

Southern/Old

4.70%,

05/01/2048

957‌

896‌

Norfolk

Southern

Corp

3.70%,

03/15/2053

1,325‌

1,071‌

Transnet

SOC

Ltd

8.25%,

02/06/2028

(i),(l)

1,500‌

1,504‌

Union

Pacific

Corp

3.38%,

02/14/2042

1,500‌

1,265‌

3.50%,

02/14/2053

2,000‌

1,617‌

United

Parcel

Service

Inc

2.20%,

09/01/2024

4,911‌

4,729‌

$

24,926‌

Trucking

&

Leasing

-

0

.16

%

GATX

Corp

3.25%,

09/15/2026

1,416‌

1,338‌

Penske

Truck

Leasing

Co

Lp

/

PTL

Finance

Corp

3.40%,

11/15/2026

(i)

1,697‌

1,583‌

4.40%,

07/01/2027

(i)

132‌

129‌

5.70%,

02/01/2028

(i)

2,079‌

2,131‌

$

5,181‌

Water

-

0

.08

%

American

Water

Capital

Corp

2.80%,

05/01/2030

800‌

716‌

Essential

Utilities

Inc

2.70%,

04/15/2030

1,250‌

1,085‌

3.35%,

04/15/2050

774‌

570‌

$

2,371‌

TOTAL

BONDS

$

2,168,473‌

CONVERTIBLE

BONDS

-

0

.01

%

Principal

Amount

(000's)

Value

(000's)

Mining

-

0

.01

%

Mirabela

Nickel

Ltd

0.00%,

06/24/2019

(d),(i)

$

6,966‌

$

348‌

TOTAL

CONVERTIBLE

BONDS

$

348‌

SENIOR

FLOATING

RATE

INTERESTS

-

12

.72

%

Principal

Amount

(000's)

Value

(000's)

Advertising

-

0

.18

%

ABG

Intermediate

Holdings

2

LLC

7.92%,

12/21/2028

(p)

$

542‌

$

537‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

10.42%,

12/20/2029

(p)

2,210‌

2,024‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.00%

Clear

Channel

Outdoor

Holdings

Inc

7.91%,

08/07/2026

(p)

3,411‌

3,239‌

3

Month

USD

LIBOR

+

3.50%

$

5,800‌

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Aerospace

&

Defense

-

0

.03

%

TransDigm

Inc

4.66%,

12/09/2025

(p)

$

496‌

$

495‌

1

Month

USD

LIBOR

+

2.25%

6.98%,

05/30/2025

(p)

442‌

441‌

1

Month

USD

LIBOR

+

2.25%

$

936‌

Airlines

-

0

.28

%

AAdvantage

Loyalty

IP

Ltd

9.56%,

03/10/2028

(p)

1,870‌

1,919‌

3

Month

USD

LIBOR

+

4.75%

Air

Canada

8.13%,

08/11/2028

(p)

723‌

722‌

3

Month

USD

LIBOR

+

3.50%

Mileage

Plus

Holdings

LLC

10.00%,

06/21/2027

(p)

365‌

380‌

3

Month

USD

LIBOR

+

5.25%

SkyMiles

IP

Ltd

8.56%,

09/16/2027

(p)

1,754‌

1,812‌

3

Month

USD

LIBOR

+

3.75%

United

Airlines

Inc

8.57%,

04/21/2028

(p)

719‌

717‌

3

Month

USD

LIBOR

+

3.75%

WestJet

Airlines

Ltd

7.51%,

12/11/2026

(p)

3,469‌

3,324‌

1

Month

USD

LIBOR

+

3.00%

$

8,874‌

Apparel

-

0

.03

%

Birkenstock

US

BidCo

Inc

7.69%,

04/28/2028

(p)

899‌

896‌

1

Month

USD

LIBOR

+

3.75%

Automobile

Parts

&

Equipment

-

0

.18

%

Clarios

Global

LP

7.63%,

04/30/2026

(p)

1,635‌

1,627‌

1

Month

USD

LIBOR

+

3.25%

Dexko

Global

Inc

8.59%,

10/04/2028

(p)

360‌

332‌

1

Month

USD

LIBOR

+

3.75%

First

Brands

Group

LLC

8.37%,

03/24/2027

(p)

2,631‌

2,569‌

CME

Term

Secured

Overnight

Financing

Rate

6

Month

+

5.00%

11.87%,

03/24/2028

(p)

1,475‌

1,327‌

6

Month

USD

LIBOR

+

8.50%

$

5,855‌

Beverages

-

0

.12

%

City

Brewing

Co

LLC

8.33%,

04/05/2028

(p)

537‌

239‌

1

Month

USD

LIBOR

+

3.50%

Naked

Juice

LLC

7.93%,

01/24/2029

(p)

1,085‌

995‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.25%

10.68%,

01/24/2030

(p)

135‌

111‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

6.00%

Pegasus

Bidco

BV

8.52%,

05/05/2029

(p)

454‌

449‌

Secured

Overnight

Financing

Rate

+

4.25%

Triton

Water

Holdings

Inc

8.23%,

03/31/2028

(p)

2,058‌

1,957‌

3

Month

USD

LIBOR

+

3.50%

$

3,751‌

Building

Materials

-

0

.19

%

Chariot

Buyer

LLC

7.63%,

10/22/2028

(p)

1,074‌

1,036‌

1

Month

USD

LIBOR

+

3.50%

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

44

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Building

Materials

(continued)

Generation

Brands

11.13%,

06/29/2029

(p)

$

2,560‌

$

2,074‌

3

Month

USD

LIBOR

+

6.75%

11.13%,

06/29/2029

(p)

1,825‌

1,478‌

3

Month

USD

LIBOR

+

6.75%

Standard

Industries

Inc/NJ

6.43%,

08/06/2028

(p)

715‌

714‌

6

Month

USD

LIBOR

+

2.50%

Zurn

LLC

6.38%,

10/04/2028

(p)

592‌

591‌

1

Month

USD

LIBOR

+

2.25%

$

5,893‌

Chemicals

-

0

.48

%

Aruba

Investments

Holdings

LLC

12.46%,

10/27/2028

(p)

8,680‌

7,798‌

1

Month

USD

LIBOR

+

7.75%

ASP

Unifrax

Holdings

Inc

8.48%,

12/12/2025

(p)

899‌

810‌

3

Month

USD

LIBOR

+

3.75%

Axalta

Coating

Systems

US

Holdings

Inc

7.51%,

12/07/2029

(p)

650‌

652‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

Cpc

Acquisition

Corp

12.48%,

01/12/2029

(p)

5,350‌

3,237‌

3

Month

USD

LIBOR

+

7.75%

Diamond

BC

BV

7.16%,

09/29/2028

(p)

1,079‌

1,066‌

3

Month

USD

LIBOR

+

2.75%

Discovery

Purchaser

Corp

8.96%,

08/04/2029

(p)

240‌

229‌

Secured

Overnight

Financing

Rate

+

4.38%

Ineos

Petro

7.13%,

01/29/2026

(p)

247‌

247‌

1

Month

USD

LIBOR

+

2.75%

Innophos

Holdings

Inc

7.63%,

02/05/2027

(p)

360‌

358‌

1

Month

USD

LIBOR

+

3.25%

Trinseo

Materials

Operating

SCA

6.38%,

09/06/2024

(p)

530‌

516‌

3

Month

USD

LIBOR

+

2.00%

WR

Grace

Holdings

LLC

8.50%,

09/22/2028

(p)

241‌

239‌

3

Month

USD

LIBOR

+

3.75%

$

15,152‌

Commercial

Services

-

1

.50

%

Amentum

Government

Services

Holdings

LLC

8.12%,

02/15/2029

(p)

546‌

537‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

Avis

Budget

Car

Rental

LLC

6.14%,

08/06/2027

(p)

1,115‌

1,099‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.25%

7.92%,

03/16/2029

(p)

444‌

443‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

AVSC

Holding

Corp

15.00%,

10/15/2026

(p)

316‌

331‌

Belron

Finance

8.42%,

10/30/2026

(p)

539‌

538‌

1

Month

USD

LIBOR

+

2.50%

CHG

Healthcare

Services

Inc

7.63%,

09/29/2028

(p)

360‌

357‌

1

Month

USD

LIBOR

+

3.50%

Driven

Brands

Holdings

Inc

7.74%,

12/17/2028

(p)

1,082‌

1,057‌

12

Month

USD

LIBOR

+

3.00%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Services

(continued)

Element

Materials

Technology

Group

US

Holdings

Inc

8.90%,

04/12/2029

(p)

$

137‌

$

136‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

4.25%

8.93%,

06/22/2029

(p)

63‌

63‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

4.25%

Hertz

Corp/The

7.63%,

06/14/2028

(p)

1,465‌

1,457‌

1

Month

USD

LIBOR

+

3.25%

7.63%,

06/14/2028

(p)

279‌

277‌

1

Month

USD

LIBOR

+

3.25%

KUEHG

Corp

12.98%,

08/22/2025

(p)

16,360‌

15,471‌

3

Month

USD

LIBOR

+

8.25%

Learning

Care

Group

US

No

2

Inc

12.19%,

03/13/2026

(p)

17,700‌

15,089‌

3

Month

USD

LIBOR

+

7.50%

Prime

Security

Services

Borrower

LLC

7.52%,

09/23/2026

(p)

3,775‌

3,769‌

3

Month

USD

LIBOR

+

2.75%

Sabert

Corp

8.94%,

12/10/2026

(p)

372‌

370‌

1

Month

USD

LIBOR

+

4.50%

Syniverse

Holdings

LLC/DE

10.55%,

05/13/2027

(p)

1,359‌

1,215‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

7.00%

Trans

Union

LLC

6.13%,

11/13/2026

(p)

538‌

535‌

1

Month

USD

LIBOR

+

1.75%

6.63%,

11/17/2028

(p)

746‌

744‌

1

Month

USD

LIBOR

+

2.25%

Travelport

Finance

Luxembourg

Sarl

6.23%,

PIK

7.25%,

02/28/2025

(o),(p)

1,818‌

1,863‌

3

Month

USD

LIBOR

+

7.00%

Verscend

Holding

Corp

8.38%,

08/27/2025

(p)

899‌

897‌

1

Month

USD

LIBOR

+

4.00%

Wand

NewCo

3

Inc

7.38%,

02/05/2026

(p)

899‌

875‌

1

Month

USD

LIBOR

+

3.00%

WEX

Inc

6.63%,

03/31/2028

(p)

360‌

359‌

1

Month

USD

LIBOR

+

2.25%

$

47,482‌

Computers

-

0

.08

%

Magenta

Buyer

LLC

9.17%,

07/27/2028

(p)

237‌

207‌

1

Month

USD

LIBOR

+

4.75%

McAfee

Corp

8.18%,

03/01/2029

(p)

940‌

885‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

NCR

Corp

6.92%,

08/28/2026

(p)

535‌

532‌

3

Month

USD

LIBOR

+

2.50%

Optiv

Security

Inc

7.42%,

02/01/2024

(p)

361‌

351‌

3

Month

USD

LIBOR

+

3.25%

Perforce

Software

Inc

8.13%,

07/01/2026

(p)

246‌

228‌

1

Month

USD

LIBOR

+

3.75%

Vision

Solutions

Inc

8.82%,

04/23/2028

(p)

535‌

469‌

3

Month

USD

LIBOR

+

4.00%

$

2,672‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

45

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Consumer

Products

-

0

.01

%

Kronos

Acquisition

Holdings

Inc

0.00%,

12/22/2026

(p),(q)

$

440‌

$

427‌

3

Month

USD

LIBOR

+

3.75%

Distribution

&

Wholesale

-

0

.17

%

Core

&

Main

LP

7.09%,

07/27/2028

(p)

899‌

894‌

1

Month

USD

LIBOR

+

2.50%

Infinite

Bidco

LLC

11.73%,

02/24/2029

(p)

4,850‌

4,341‌

3

Month

USD

LIBOR

+

7.00%

$

5,235‌

Diversified

Financial

Services

-

0

.04

%

Astra

Acquisition

Corp

9.63%,

10/25/2028

(p)

597‌

526‌

1

Month

USD

LIBOR

+

5.25%

FleetCor

Technologies

Operating

Co

LLC

6.13%,

04/28/2028

(p)

899‌

895‌

1

Month

USD

LIBOR

+

1.75%

$

1,421‌

Electric

-

0

.11

%

PG&E

Corp

7.44%,

06/23/2025

(p)

899‌

898‌

1

Month

USD

LIBOR

+

3.00%

Talen

Energy

Supply

LLC

8.13%,

07/08/2026

(p)

1,553‌

1,572‌

1

Month

USD

LIBOR

+

3.75%

9.06%,

11/10/2023

(p)

853‌

859‌

Secured

Overnight

Financing

Rate

+

4.75%

$

3,329‌

Electronics

-

0

.02

%

Coherent

Corp

7.13%,

07/01/2029

(p)

356‌

354‌

1

Month

USD

LIBOR

+

2.75%

Ingram

Micro

Inc

8.23%,

06/30/2028

(p)

399‌

397‌

3

Month

USD

LIBOR

+

3.50%

$

751‌

Engineering

&

Construction

-

0

.39

%

Brand

Industrial

Services

Inc

9.06%,

06/21/2024

(p)

5,540‌

5,161‌

3

Month

USD

LIBOR

+

4.25%

Brown

Group

Holding

LLC

6.88%,

06/07/2028

(p)

353‌

351‌

1

Month

USD

LIBOR

+

2.50%

7.93%,

06/08/2029

(p)

399‌

399‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

Centuri

Group

Inc

7.21%,

08/18/2028

(p)

490‌

487‌

3

Month

USD

LIBOR

+

2.50%

KKR

Apple

Bidco

LLC

7.13%,

07/14/2028

(p)

360‌

358‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.75%

8.32%,

09/22/2028

(p)

360‌

360‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

10.13%,

09/23/2029

(p)

5,392‌

5,284‌

3

Month

USD

LIBOR

+

5.75%

$

12,400‌

Entertainment

-

0

.71

%

AMC

Entertainment

Holdings

Inc

7.43%,

03/20/2026

(p)

2,225‌

1,313‌

1

Month

USD

LIBOR

+

3.00%

Bally's

Corp

7.71%,

08/06/2028

(p)

1,246‌

1,197‌

1

Month

USD

LIBOR

+

3.25%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Entertainment

(continued)

Churchill

Downs

Inc

6.39%,

12/27/2024

(p)

$

233‌

$

233‌

3

Month

USD

LIBOR

+

2.00%

6.39%,

03/17/2028

(p)

1,847‌

1,834‌

1

Month

USD

LIBOR

+

2.00%

Crown

Finance

US

Inc

0.00%,

02/07/2025

(d),(p)

1,491‌

246‌

3

Month

USD

LIBOR

+

2.50%

0.00%,

09/30/2026

(d),(p)

746‌

113‌

3

Month

USD

LIBOR

+

2.75%

14.46%,

09/07/2023

(p)

117‌

118‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

10.00%

14.58%,

09/08/2023

(p)

1,607‌

1,619‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

10.00%

Crown

UK

Holdco

Ltd

0.00%,

02/28/2023

(d),(p)

564‌

82‌

3

Month

USD

LIBOR

+

2.75%

Entain

Holdings

Gibraltar

Ltd

7.51%,

10/18/2029

(p)

660‌

661‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

Everi

Holdings

Inc

6.92%,

06/30/2028

(p)

1,601‌

1,597‌

1

Month

USD

LIBOR

+

2.50%

Flutter

Financing

BV

8.09%,

09/16/2028

(p)

688‌

689‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

Formula

One

7.34%,

01/15/2030

(p)

710‌

712‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

Lions

Gate

Capital

Holdings

LLC

6.63%,

03/24/2025

(p)

358‌

351‌

3

Month

USD

LIBOR

+

2.25%

Merlin

Entertainment

0.00%,

11/12/2026

(p),(q)

196‌

193‌

3

Month

USD

LIBOR

+

3.25%

0.00%,

11/12/2026

(p),(q)

28‌

28‌

3

Month

USD

LIBOR

+

3.25%

NAI

Entertainment

Holdings

LLC

6.89%,

05/08/2025

(p)

3,053‌

2,900‌

3

Month

USD

LIBOR

+

2.50%

Nascar

Holdings

LLC

6.88%,

10/19/2026

(p)

1,440‌

1,439‌

1

Month

USD

LIBOR

+

2.50%

PCI

Gaming

Authority

6.88%,

05/29/2026

(p)

472‌

471‌

1

Month

USD

LIBOR

+

2.50%

Penn

Entertainment

Inc

7.17%,

04/21/2029

(p)

318‌

317‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.75%

Scientific

Games

Holdings

LP

7.58%,

04/14/2029

(p)

1,184‌

1,179‌

1

Month

USD

LIBOR

+

3.00%

8.10%,

02/04/2029

(p)

228‌

224‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.50%

SeaWorld

Parks

&

Entertainment

Inc

7.44%,

08/25/2028

(p)

539‌

537‌

1

Month

USD

LIBOR

+

3.00%

Stars

Group

Holdings

BV

6.98%,

07/21/2026

(p)

2,966‌

2,959‌

3

Month

USD

LIBOR

+

2.25%

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

46

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Entertainment

(continued)

William

Morris

Endeavor

Entertainment

LLC

7.14%,

05/16/2025

(p)

$

1,347‌

$

1,337‌

3

Month

USD

LIBOR

+

2.75%

$

22,349‌

Environmental

Control

-

0

.13

%

Clean

Harbors

Inc

6.38%,

10/09/2028

(p)

360‌

360‌

1

Month

USD

LIBOR

+

2.00%

Covanta

Holding

Corp

6.82%,

11/17/2028

(p)

383‌

384‌

1

Month

USD

LIBOR

+

2.50%

6.82%,

11/17/2028

(p)

29‌

29‌

1

Month

USD

LIBOR

+

2.50%

GFL

Environmental

Inc

7.41%,

05/30/2025

(p)

3,217‌

3,222‌

3

Month

USD

LIBOR

+

3.00%

$

3,995‌

Food

-

0

.10

%

8th

Avenue

Food

&

Provisions

Inc

0.00%,

09/19/2025

(p),(q)

328‌

283‌

1

Month

USD

LIBOR

+

3.75%

CHG

PPC

Parent

LLC

7.44%,

12/08/2028

(p)

360‌

358‌

1

Month

USD

LIBOR

+

3.00%

Froneri

US

Inc

6.63%,

01/31/2027

(p)

360‌

356‌

1

Month

USD

LIBOR

+

2.25%

H-Food

Holdings

LLC

8.07%,

05/23/2025

(p)

719‌

666‌

3

Month

USD

LIBOR

+

3.69%

Total

Produce

USA

Holdings

Inc

6.76%,

08/03/2028

(p)

539‌

531‌

1

Month

USD

LIBOR

+

2.00%

US

Foods

Inc

6.38%,

09/14/2026

(p)

207‌

207‌

1

Month

USD

LIBOR

+

2.00%

7.13%,

11/22/2028

(p)

798‌

798‌

1

Month

USD

LIBOR

+

2.75%

$

3,199‌

Forest

Products

&

Paper

-

0

.02

%

Asplundh

Tree

Expert

LLC

6.13%,

09/06/2027

(p)

660‌

659‌

1

Month

USD

LIBOR

+

1.75%

Healthcare

-

Products

-

0

.26

%

Avantor

Funding

Inc

6.63%,

11/08/2027

(p)

180‌

180‌

1

Month

USD

LIBOR

+

2.25%

Bausch

+

Lomb

Corp

7.84%,

05/10/2027

(p)

3,095‌

3,010‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

Curia

Global

Inc

0.00%,

08/30/2026

(p),(q)

398‌

343‌

1

Month

USD

LIBOR

+

3.75%

Embecta

Corp

7.79%,

03/31/2029

(p)

205‌

201‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

ICU

Medical

Inc

7.19%,

12/15/2028

(p)

360‌

358‌

1

Month

USD

LIBOR

+

2.50%

Insulet

Corp

7.69%,

05/04/2028

(p)

719‌

718‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

Medline

Borrower

LP

7.63%,

10/23/2028

(p)

2,681‌

2,600‌

1

Month

USD

LIBOR

+

3.25%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Healthcare

-

Products

(continued)

Viant

Medical

Holdings

Inc

8.13%,

07/02/2025

(p)

$

742‌

$

669‌

1

Month

USD

LIBOR

+

3.75%

$

8,079‌

Healthcare

-

Services

-

0

.85

%

AHP

Health

Partners

Inc

7.88%,

08/24/2028

(p)

240‌

238‌

1

Month

USD

LIBOR

+

3.50%

Aveanna

Healthcare

LLC

11.71%,

12/09/2029

(p)

7,640‌

4,890‌

1

Month

USD

LIBOR

+

7.00%

DaVita

Inc

6.13%,

08/12/2026

(p)

184‌

182‌

1

Month

USD

LIBOR

+

1.75%

Eyecare

Partners

LLC

11.48%,

10/14/2029

(p)

6,544‌

5,286‌

3

Month

USD

LIBOR

+

6.75%

Global

Medical

Response

Inc

8.63%,

03/14/2025

(p)

495‌

362‌

1

Month

USD

LIBOR

+

4.25%

8.65%,

10/02/2025

(p)

1,371‌

1,011‌

1

Month

USD

LIBOR

+

4.25%

ICON

Luxembourg

Sarl

7.00%,

07/03/2028

(p)

788‌

787‌

3

Month

USD

LIBOR

+

2.25%

LifePoint

Health

Inc

8.16%,

11/17/2025

(p)

625‌

606‌

1

Month

USD

LIBOR

+

3.75%

8.16%,

11/17/2025

(p)

1,489‌

1,445‌

1

Month

USD

LIBOR

+

3.75%

National

Mentor

Holdings

Inc

11.98%,

03/02/2029

(p)

725‌

468‌

3

Month

USD

LIBOR

+

7.25%

Phoenix

Guarantor

Inc

7.63%,

03/05/2026

(p)

357‌

351‌

1

Month

USD

LIBOR

+

3.25%

Phoenix

Newco

Inc

7.63%,

11/15/2028

(p)

2,671‌

2,647‌

1

Month

USD

LIBOR

+

3.25%

Select

Medical

Corp

7.07%,

03/06/2025

(p)

2,809‌

2,790‌

1

Month

USD

LIBOR

+

2.50%

Sound

Inpatient

Physicians

Holdings

LLC

11.13%,

06/26/2026

(p)

5,750‌

4,428‌

1

Month

USD

LIBOR

+

6.75%

Surgery

Center

Holdings

Inc

8.21%,

09/03/2026

(p)

1,535‌

1,531‌

1

Month

USD

LIBOR

+

3.75%

$

27,022‌

Home

Builders

-

0

.06

%

Tecta

America

Corp

12.94%,

04/09/2029

(p)

2,100‌

1,942‌

3

Month

USD

LIBOR

+

8.50%

Home

Furnishings

-

0

.07

%

AI

Aqua

Merger

Sub

Inc

7.84%,

07/31/2028

(p)

976‌

955‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

8.23%,

07/31/2028

(p)

84‌

82‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

MillerKnoll

Inc

6.38%,

07/19/2028

(p)

899‌

887‌

1

Month

USD

LIBOR

+

2.00%

Weber-Stephen

Products

LLC

7.63%,

10/30/2027

(p)

368‌

321‌

1

Month

USD

LIBOR

+

3.25%

$

2,245‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

47

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Insurance

-

0

.67

%

Acrisure

LLC

7.88%,

02/15/2027

(p)

$

719‌

$

692‌

1

Month

USD

LIBOR

+

3.50%

Alliant

Holdings

Intermediate

LLC

7.63%,

05/09/2025

(p)

719‌

718‌

1

Month

USD

LIBOR

+

3.25%

8.01%,

11/06/2027

(p)

899‌

897‌

1

Month

USD

LIBOR

+

3.50%

AssuredPartners

Inc

7.82%,

02/12/2027

(p)

722‌

713‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

Asurion

LLC

7.38%,

11/03/2024

(p)

1,648‌

1,629‌

1

Month

USD

LIBOR

+

3.00%

7.63%,

07/31/2027

(p)

580‌

547‌

1

Month

USD

LIBOR

+

3.25%

9.63%,

01/31/2028

(p)

7,350‌

6,104‌

1

Month

USD

LIBOR

+

5.25%

9.63%,

01/20/2029

(p)

1,780‌

1,485‌

1

Month

USD

LIBOR

+

5.25%

9.63%,

01/20/2029

(p)

2,300‌

1,919‌

1

Month

USD

LIBOR

+

5.25%

9.63%,

01/20/2029

(p)

1,666‌

1,390‌

1

Month

USD

LIBOR

+

5.25%

BroadStreet

Partners

Inc

7.38%,

01/27/2027

(p)

414‌

407‌

1

Month

USD

LIBOR

+

3.00%

7.63%,

01/27/2027

(p)

360‌

354‌

1

Month

USD

LIBOR

+

3.25%

HUB

International

Ltd

7.82%,

04/25/2025

(p)

899‌

898‌

3

Month

USD

LIBOR

+

3.00%

8.06%,

04/25/2025

(p)

719‌

718‌

1

Month

USD

LIBOR

+

3.25%

8.22%,

10/30/2029

(p)

190‌

190‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

Ryan

Specialty

Group

LLC

7.42%,

09/01/2027

(p)

1,079‌

1,075‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

USI

Inc/NY

8.33%,

11/14/2029

(p)

1,411‌

1,411‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

$

21,147‌

Internet

-

0

.66

%

CNT

Holdings

I

Corp

8.13%,

11/08/2027

(p)

807‌

796‌

1

Month

USD

LIBOR

+

3.50%

11.38%,

11/06/2028

(p)

8,701‌

8,317‌

1

Month

USD

LIBOR

+

6.75%

Gen

Digital

Inc

6.42%,

09/12/2029

(p)

2,710‌

2,702‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.00%

MH

Sub

I

LLC

10.65%,

02/12/2029

(p)

7,550‌

6,783‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.25%

Proofpoint

Inc

7.98%,

08/31/2028

(p)

245‌

240‌

3

Month

USD

LIBOR

+

3.25%

Ten-X

LLC

10.50%,

09/29/2024

(p)

2,015‌

1,926‌

3

Month

USD

LIBOR

+

4.00%

$

20,764‌

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Investment

Companies

-

0

.55

%

Nexus

Buyer

LLC

10.63%,

11/05/2029

(p)

$

6,600‌

$

6,083‌

3

Month

USD

LIBOR

+

6.25%

Zest

Acquisition

Corp

11.73%,

03/06/2026

(p)

11,260‌

11,190‌

3

Month

USD

LIBOR

+

7.50%

$

17,273‌

Leisure

Products

&

Services

-

0

.19

%

Alterra

Mountain

Co

7.88%,

08/17/2028

(p)

719‌

716‌

1

Month

USD

LIBOR

+

3.50%

Carnival

Corp

7.38%,

06/30/2025

(p)

719‌

707‌

6

Month

USD

LIBOR

+

3.00%

7.63%,

10/18/2028

(p)

458‌

447‌

6

Month

USD

LIBOR

+

3.25%

ClubCorp

Holdings

Inc

7.48%,

09/18/2024

(p)

2,359‌

2,174‌

3

Month

USD

LIBOR

+

2.75%

Equinox

Holdings

Inc

7.73%,

03/08/2024

(p)

1,237‌

956‌

3

Month

USD

LIBOR

+

3.00%

Hayward

Industries

Inc

6.88%,

05/28/2028

(p)

537‌

530‌

1

Month

USD

LIBOR

+

2.50%

SRAM

LLC

7.28%,

05/18/2028

(p)

560‌

553‌

1

Month

USD

LIBOR

+

2.75%

$

6,083‌

Lodging

-

0

.17

%

Caesars

Resort

Collection

LLC

7.13%,

12/22/2024

(p)

1,116‌

1,114‌

3

Month

USD

LIBOR

+

2.75%

7.88%,

07/20/2025

(p)

615‌

615‌

1

Month

USD

LIBOR

+

3.50%

Fertitta

Entertainment

LLC/NV

8.32%,

01/13/2029

(p)

3,131‌

3,092‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

Hilton

Worldwide

Finance

LLC

6.38%,

06/18/2026

(p)

500‌

499‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.75%

$

5,320‌

Machinery

-

Construction

&

Mining

-

0

.02

%

Vertiv

Group

Corp

7.12%,

03/02/2027

(p)

539‌

537‌

1

Month

USD

LIBOR

+

2.75%

Machinery

-

Diversified

-

0

.60

%

Ali

Group

North

America

Corp

6.45%,

07/30/2029

(p)

961‌

958‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.00%

Chart

Industries

Inc

0.00%,

12/07/2029

(p),(q)

330‌

330‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.75%

Engineered

Machinery

Holdings

Inc

10.73%,

05/21/2029

(p)

19,333‌

17,497‌

3

Month

USD

LIBOR

+

6.00%

TK

Elevator

US

Newco

Inc

6.87%,

07/30/2027

(p)

177‌

174‌

6

Month

USD

LIBOR

+

3.50%

$

18,959‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

48

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

-

0

.40

%

Altice

Financing

SA

6.83%,

10/31/2027

(p)

$

1,237‌

$

1,216‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

5.00%

Cengage

Learning

Inc

9.88%,

07/14/2026

(p)

1,618‌

1,539‌

6

Month

USD

LIBOR

+

4.75%

CSC

Holdings

LLC

6.57%,

07/17/2025

(p)

1,426‌

1,374‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

2.25%

Diamond

Sports

Group

LLC

8.03%,

08/24/2026

(p)

2,475‌

187‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

Directv

Financing

LLC

9.38%,

08/02/2027

(p)

1,626‌

1,596‌

1

Month

USD

LIBOR

+

5.00%

Dotdash

Meredith

8.43%,

12/01/2028

(p)

995‌

842‌

3

Month

USD

LIBOR

+

4.00%

Gray

Television

Inc

6.87%,

01/02/2026

(p)

363‌

361‌

1

Month

USD

LIBOR

+

2.50%

iHeartCommunications

Inc

7.38%,

05/01/2026

(p)

1,907‌

1,875‌

1

Month

USD

LIBOR

+

3.00%

McGraw-Hill

Education

Inc

8.32%,

07/28/2028

(p)

947‌

905‌

1

Month

USD

LIBOR

+

4.75%

Nexstar

Media

Inc

6.88%,

09/18/2026

(p)

429‌

429‌

1

Month

USD

LIBOR

+

2.50%

Radiate

Holdco

LLC

7.63%,

09/25/2026

(p)

360‌

300‌

1

Month

USD

LIBOR

+

3.25%

Univision

Communications

Inc

7.13%,

03/15/2024

(p)

286‌

285‌

3

Month

USD

LIBOR

+

2.75%

Virgin

Media

Bristol

LLC

6.96%,

01/31/2028

(p)

545‌

542‌

1

Month

USD

LIBOR

+

2.50%

WideOpenWest

Finance

LLC

7.58%,

12/20/2028

(p)

360‌

357‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.00%

Ziggo

Financing

Partnership

6.96%,

04/28/2028

(p)

908‌

900‌

1

Month

USD

LIBOR

+

2.50%

$

12,708‌

Metal

Fabrication

&

Hardware

-

0

.01

%

Grinding

Media

Inc

8.07%,

10/12/2028

(p)

360‌

351‌

1

Month

USD

LIBOR

+

4.00%

Mining

-

0

.22

%

Artic

Canadian

Diamond

Co

Ltd

5.00%,

PIK

12.50%,

12/31/2027

(e),(o),(p)

7,103‌

7,103‌

1

Month

USD

LIBOR

+

5.00%

Miscellaneous

Manufacturers

-

0

.06

%

Gates

Global

LLC

6.88%,

03/31/2027

(p)

1,796‌

1,788‌

1

Month

USD

LIBOR

+

2.50%

Oil

&

Gas

-

0

.05

%

Gulf

Finance

LLC

11.22%,

08/25/2026

(p)

1,536‌

1,494‌

1

Month

USD

LIBOR

+

6.75%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Packaging

&

Containers

-

0

.06

%

Berry

Global

Inc

6.15%,

07/01/2026

(p)

$

492‌

$

491‌

1

Month

USD

LIBOR

+

1.75%

Clydesdale

Acquisition

Holdings

Inc

8.60%,

04/13/2029

(p)

179‌

176‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.18%

Kloeckner

Pentaplast

of

America

Inc

8.26%,

02/12/2026

(p)

537‌

475‌

CME

Term

Secured

Overnight

Financing

Rate

6

Month

+

4.75%

Pactiv

Evergreen

Group

Holdings

Inc

7.63%,

02/05/2026

(p)

190‌

190‌

1

Month

USD

LIBOR

+

3.25%

7.63%,

09/22/2028

(p)

360‌

358‌

1

Month

USD

LIBOR

+

3.50%

TricorBraun

Holdings

Inc

7.63%,

03/03/2028

(p)

360‌

349‌

1

Month

USD

LIBOR

+

3.25%

$

2,039‌

Pharmaceuticals

-

0

.33

%

Gainwell

Acquisition

Corp

8.73%,

10/01/2027

(p)

1,078‌

1,051‌

3

Month

USD

LIBOR

+

4.00%

Grifols

Worldwide

Operations

USA

Inc

6.38%,

11/15/2027

(p)

908‌

891‌

1

Month

USD

LIBOR

+

2.00%

Jazz

Financing

Lux

Sarl

7.88%,

05/05/2028

(p)

3,246‌

3,241‌

1

Month

USD

LIBOR

+

3.50%

Mallinckrodt

International

Finance

SA

9.99%,

09/30/2027

(p)

1,967‌

1,502‌

3

Month

USD

LIBOR

+

5.25%

10.24%,

09/30/2027

(p)

984‌

751‌

3

Month

USD

LIBOR

+

5.50%

Organon

&

Co

7.75%,

06/02/2028

(p)

2,396‌

2,389‌

3

Month

USD

LIBOR

+

3.00%

Perrigo

Investments

LLC

6.92%,

04/20/2029

(p)

389‌

390‌

1

Month

USD

LIBOR

+

2.50%

PRA

Health

Sciences

Inc

7.00%,

07/03/2028

(p)

196‌

196‌

3

Month

USD

LIBOR

+

2.25%

$

10,411‌

Pipelines

-

0

.12

%

Buckeye

Partners

LP

6.63%,

11/01/2026

(p)

539‌

539‌

1

Month

USD

LIBOR

+

2.25%

Freeport

LNG

Investments

LLLP

7.81%,

11/17/2026

(p)

1,278‌

1,239‌

3

Month

USD

LIBOR

+

3.00%

8.31%,

12/21/2028

(p)

541‌

524‌

3

Month

USD

LIBOR

+

3.50%

M6

ETX

Holdings

II

Midco

LLC

9.16%,

08/10/2029

(p)

414‌

413‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.50%

TransMontaigne

Operating

Co

LP

7.95%,

11/03/2028

(p)

540‌

537‌

1

Month

USD

LIBOR

+

3.50%

Traverse

Midstream

Partners

LLC

8.80%,

09/21/2024

(p)

652‌

652‌

CME

Term

Secured

Overnight

Financing

Rate

6

Month

+

4.25%

$

3,904‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

49

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Real

Estate

-

0

.02

%

Cushman

&

Wakefield

US

Borrower

LLC

7.13%,

08/21/2025

(p)

$

704‌

$

700‌

1

Month

USD

LIBOR

+

2.75%

REITs

-

0

.02

%

Blackstone

Mortgage

Trust

Inc

6.63%,

04/23/2026

(p)

719‌

709‌

1

Month

USD

LIBOR

+

2.25%

Retail

-

0

.26

%

1011778

BC

ULC

6.14%,

11/19/2026

(p)

1,702‌

1,682‌

1

Month

USD

LIBOR

+

1.75%

IRB

Holding

Corp

7.69%,

12/15/2027

(p)

998‌

986‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

Jo-Ann

Stores

LLC

9.58%,

07/07/2028

(p)

969‌

552‌

3

Month

USD

LIBOR

+

4.75%

LS

Group

OpCo

Acquistion

LLC

6.58%,

11/02/2027

(p)

202‌

201‌

1

Month

USD

LIBOR

+

3.25%

Michaels

Cos

Inc/The

8.98%,

04/15/2028

(p)

234‌

214‌

3

Month

USD

LIBOR

+

4.25%

PetSmart

LLC

8.13%,

02/11/2028

(p)

3,041‌

3,017‌

1

Month

USD

LIBOR

+

3.75%

Reverb

Buyer

Inc

7.88%,

10/06/2028

(p)

361‌

348‌

3

Month

USD

LIBOR

+

3.50%

RH

6.88%,

10/20/2028

(p)

393‌

378‌

1

Month

USD

LIBOR

+

2.50%

SRS

Distribution

Inc

7.94%,

06/02/2028

(p)

213‌

205‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

3.50%

Staples

Inc

7.78%,

04/09/2026

(p)

719‌

672‌

3

Month

USD

LIBOR

+

5.00%

$

8,255‌

Semiconductors

-

0

.15

%

Altar

Bidco

Inc

10.51%,

02/01/2030

(p)

3,570‌

3,133‌

CME

Term

Secured

Overnight

Financing

Rate

6

Month

+

5.60%

Bright

Bidco

BV

12.09%,

10/31/2027

(p)

737‌

637‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

8.00%

Entegris

Inc

7.28%,

07/06/2029

(p)

376‌

377‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

Synaptics

Inc

7.40%,

10/20/2028

(p)

359‌

355‌

6

Month

USD

LIBOR

+

2.25%

Ultra

Clean

Holdings

Inc

8.13%,

08/27/2025

(p)

335‌

334‌

1

Month

USD

LIBOR

+

3.75%

$

4,836‌

Software

-

1

.33

%

Applied

Systems

Inc

4.55%,

09/19/2027

(p)

2,679‌

2,672‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.75%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Software

(continued)

AthenaHealth

Group

Inc

7.82%,

02/15/2029

(p)

$

241‌

$

227‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

7.82%,

02/15/2029

(p)

10‌

10‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

Avaya

Holdings

Corp

14.48%,

12/15/2027

(p)

1,629‌

922‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

10.00%

Avaya

Inc

8.46%,

12/15/2027

(p)

1,673‌

422‌

1

Month

USD

LIBOR

+

4.00%

Boxer

Parent

Co

Inc

8.13%,

10/02/2025

(p)

494‌

485‌

1

Month

USD

LIBOR

+

3.75%

Camelot

Finance

SA

7.38%,

10/30/2026

(p)

1,126‌

1,123‌

1

Month

USD

LIBOR

+

3.00%

CCC

Intelligent

Solutions

Inc

6.80%,

09/21/2028

(p)

360‌

359‌

3

Month

USD

LIBOR

+

2.25%

Central

Parent

Inc

9.08%,

06/07/2029

(p)

738‌

736‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

4.50%

Ceridian

HCM

Holding

Inc

6.88%,

04/04/2025

(p)

1,796‌

1,785‌

1

Month

USD

LIBOR

+

2.50%

Cloudera

Inc

10.38%,

10/08/2029

(p)

1,660‌

1,457‌

1

Month

USD

LIBOR

+

6.00%

DTI

Holdco

Inc

8.84%,

04/26/2029

(p)

906‌

861‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.75%

Dun

&

Bradstreet

Corp/The

8.28%,

02/06/2026

(p)

875‌

872‌

1

Month

USD

LIBOR

+

3.25%

Epicor

Software

Corp

7.63%,

07/30/2027

(p)

2,080‌

2,041‌

1

Month

USD

LIBOR

+

3.25%

Finastra

USA

Inc

6.87%,

06/13/2024

(p)

2,875‌

2,695‌

3

Month

USD

LIBOR

+

3.50%

Genesys

Cloud

Services

Holdings

II

LLC

8.39%,

12/01/2027

(p)

2,216‌

2,173‌

1

Month

USD

LIBOR

+

4.00%

IGT

Holding

IV

AB

8.13%,

03/31/2028

(p)

538‌

537‌

3

Month

USD

LIBOR

+

3.40%

Informatica

LLC

7.19%,

10/27/2028

(p)

1,261‌

1,257‌

1

Month

USD

LIBOR

+

2.75%

Loyalty

Ventures

Inc

8.88%,

11/03/2027

(p)

1,705‌

661‌

1

Month

USD

LIBOR

+

4.50%

Mitchell

International

Inc

11.23%,

10/15/2029

(p)

3,060‌

2,607‌

1

Month

USD

LIBOR

+

6.50%

Open

Text

Corp

0.00%,

11/16/2029

(p),(q)

2,825‌

2,819‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.50%

Physician

Partners

LLC

8.42%,

12/26/2028

(p)

182‌

174‌

1

Month

USD

LIBOR

+

4.00%

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

50

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Software

(continued)

Rackspace

Technology

Global

Inc

7.38%,

02/15/2028

(p)

$

2,200‌

$

1,376‌

3

Month

USD

LIBOR

+

2.75%

RealPage

Inc

7.38%,

04/24/2028

(p)

246‌

240‌

1

Month

USD

LIBOR

+

3.00%

Riverbed

Technology

Inc

10.54%,

PIK

2.00%,

12/08/2026

(o),(p)

1,273‌

548‌

3

Month

USD

LIBOR

+

6.00%

Skopima

Consilio

Parent

LLC

11.88%,

05/14/2029

(p)

4,760‌

4,236‌

1

Month

USD

LIBOR

+

7.50%

Sophia

LP

8.23%,

10/07/2027

(p)

899‌

885‌

3

Month

USD

LIBOR

+

3.50%

SS&C

Technologies

Inc

6.13%,

04/16/2025

(p)

1,394‌

1,390‌

1

Month

USD

LIBOR

+

1.75%

UKG

Inc

8.03%,

05/04/2026

(p)

2,243‌

2,204‌

3

Month

USD

LIBOR

+

3.25%

8.13%,

05/04/2026

(p)

719‌

711‌

1

Month

USD

LIBOR

+

3.75%

10.03%,

05/03/2027

(p)

2,325‌

2,217‌

3

Month

USD

LIBOR

+

5.25%

Zelis

Payments

Buyer

Inc

7.88%,

09/30/2026

(p)

711‌

709‌

1

Month

USD

LIBOR

+

3.50%

ZoomInfo

LLC

7.48%,

02/01/2026

(p)

545‌

546‌

1

Month

USD

LIBOR

+

3.00%

$

41,957‌

Telecommunications

-

0

.67

%

Altice

France

SA/France

8.52%,

01/31/2026

(p)

247‌

237‌

3

Month

USD

LIBOR

+

3.69%

8.65%,

08/14/2026

(p)

1,429‌

1,375‌

3

Month

USD

LIBOR

+

4.00%

Avaya

Inc

8.71%,

12/15/2027

(p)

3,466‌

875‌

1

Month

USD

LIBOR

+

4.25%

Cincinnati

Bell

Inc

7.44%,

11/23/2028

(p)

1,014‌

1,008‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.25%

CommScope

Inc

7.82%,

04/06/2026

(p)

544‌

532‌

1

Month

USD

LIBOR

+

3.25%

Cyxtera

DC

Holdings

Inc

7.82%,

05/01/2024

(p)

1,308‌

1,063‌

3

Month

USD

LIBOR

+

3.00%

Dawn

Acquisitions

LLC

8.48%,

12/31/2025

(p)

2,248‌

1,442‌

3

Month

USD

LIBOR

+

3.75%

Delta

Topco

Inc

8.87%,

12/01/2027

(p)

751‌

695‌

3

Month

USD

LIBOR

+

3.75%

EOS

US

Finco

LLC

10.60%,

08/03/2029

(p)

300‌

293‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

6.00%

Frontier

Communications

Holdings

LLC

8.50%,

05/01/2028

(p)

2,335‌

2,285‌

3

Month

USD

LIBOR

+

3.75%

Gogo

Intermediate

Holdings

LLC

8.16%,

04/28/2028

(p)

719‌

718‌

3

Month

USD

LIBOR

+

3.75%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Telecommunications

(continued)

Intelsat

Jackson

Holdings

SA

7.44%,

01/26/2029

(p)

$

1,400‌

$

1,377‌

CME

Term

Secured

Overnight

Financing

Rate

6

Month

+

4.25%

Intrado

Corp

7.91%,

10/10/2024

(p)

769‌

720‌

3

Month

USD

LIBOR

+

3.50%

8.41%,

10/10/2024

(p)

3,924‌

3,663‌

3

Month

USD

LIBOR

+

4.00%

Iridium

Satellite

LLC

6.92%,

11/06/2026

(p)

843‌

842‌

1

Month

USD

LIBOR

+

2.50%

MLN

US

Holdco

LLC

8.25%,

11/30/2025

(p)

824‌

212‌

6

Month

USD

LIBOR

+

4.50%

11.15%,

10/17/2027

(p)

537‌

376‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.80%

Viasat

Inc

8.94%,

02/23/2029

(p)

249‌

248‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.50%

Xplornet

Communications

Inc

11.38%,

09/30/2029

(p)

5,510‌

3,251‌

1

Month

USD

LIBOR

+

7.00%

$

21,212‌

Transportation

-

0

.15

%

ASP

LS

Acquisition

Corp

12.23%,

04/30/2029

(p)

6,650‌

4,123‌

6

Month

USD

LIBOR

+

7.50%

Genesee

&

Wyoming

Inc

6.73%,

12/30/2026

(p)

360‌

359‌

3

Month

USD

LIBOR

+

2.00%

XPO

Inc

6.13%,

02/24/2025

(p)

250‌

249‌

1

Month

USD

LIBOR

+

1.75%

$

4,731‌

TOTAL

SENIOR

FLOATING

RATE

INTERESTS

$

402,645‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

1

.24

%

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

-

1

.17

%

1.88%,

11/15/2051

$

4,014‌

$

2,755‌

2.25%,

02/15/2052

3,421‌

2,570‌

2.38%,

03/31/2029

2,000‌

1,866‌

2.38%,

02/15/2042

1,228‌

993‌

2.63%,

05/31/2027

1,500‌

1,437‌

2.75%,

05/31/2029

2,800‌

2,667‌

2.75%,

11/15/2042

1,300‌

1,111‌

2.88%,

05/15/2032

4,974‌

4,737‌

2.88%,

05/15/2052

9,393‌

8,094‌

3.00%,

08/15/2052

256‌

227‌

3.13%,

08/31/2029

750‌

730‌

3.25%,

06/30/2029

350‌

343‌

3.25%,

05/15/2042

4,189‌

3,887‌

3.38%,

08/15/2042

1,144‌

1,082‌

3.88%,

09/30/2029

1,128‌

1,147‌

4.13%,

09/30/2027

3,428‌

3,498‌

$

37,144‌

U.S.

Treasury

Bill

-

0

.07

%

4.00%,

02/16/2023

(r)

2,225‌

2,221‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

39,365‌

Total

Investments

$

3,127,787‌

Other

Assets

and

Liabilities

-  1.16%

36,587‌

TOTAL

NET

ASSETS

-

100.00%

$

3,164,374‌

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

51

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$34,665

or

1.10%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(f)

Restricted

Security.

Please

see

Restricted

Securities

sub-schedule

for

additional

information.

(g)

Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(h)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$31,115

or

0.98%

of

net

assets.

(i)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$807,906

or

25.53%

of

net

assets.

(j)

Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(k)

Security

is

a

contingent

convertible

security,

("CoCo").

CoCo's

are

hybrid

debt

securities

that

may

convert

to

equity

or

have

their

principal

written

down

upon

occurrence

of

certain

"triggers".

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$90,434

or

2.86%

of

net

assets.

(l)

Security

purchased

on

a

when-issued

basis.

(m)

Security

is

an

Interest

Only

Strip.

(n)

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(o)

Payment

in

kind;

the

issuer

has

the

option

of

paying

additional

securities

in

lieu

of

cash.

(p)

Rate

information

disclosed

is

based

on

an

average

weighted

rate

of

the

underlying

tranches

as

of

period

end.

(q)

This

Senior

Floating

Rate

Note

will

settle

after

January

31,

2023,

at

which

time

the

interest

rate

will

be

determined.

(r)

Rate

shown

is

the

discount

rate

of

the

original

purchase.

Portfolio

Summary  (unaudited)

Sector

Percent

Financial

26

.28‌

%

Consumer,

Non-cyclical

9

.57‌

%

Investment

Companies

7

.90‌

%

Communications

7

.24‌

%

Consumer,

Cyclical

7

.17‌

%

Basic

Materials

6

.99‌

%

Industrial

6

.78‌

%

Energy

5

.45‌

%

Mortgage

Securities

4

.86‌

%

Money

Market

Funds

4

.74‌

%

Utilities

4

.10‌

%

Technology

3

.91‌

%

Government

3

.85‌

%

Other

Assets

and

Liabilities

1

.16‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

511,407‌

$

369,558‌

$

141,849‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

156,621‌

515,965‌

672,586‌

—‌

$

156,621‌

$

1,027,372‌

$

1,042,144‌

$

141,849‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

751‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

634‌

—‌

—‌

—‌

$

1,385‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Restricted

Securities

Security

Name

Acquisition

Date

Cost

Value

Percent

of

Net

Assets

Bright

Bidco

12/09/2022

$

756‌

$

415‌

0.01%

High

Ridge

Brands

-

Escrow  

0.00%,

03/15/2025

12/29/2020

14,846‌

173‌

0.01%

Material

Sciences

Corp  

10.93%,

PIK

10.93%,

01/09/2024

12/22/2016-12/30/22

19,107‌

18,905‌

0.60%

Real

Alloy

Holding

Inc  

14.73%,

05/31/2025

05/31/2018-06/30/2020

17,944‌

17,944‌

0.57%

Specialty

Steel  

15.14%,

11/15/2026

06/04/2021

41,564‌

41,564‌

1.31%

Specialty

Steel

Holdings,

Inc.

11/15/2017

14,909‌

12,741‌

0.40%

SportsNet

New

York  

10.25%,

01/15/2025

12/27/2017

19,789‌

19,688‌

0.62%

Total

$

111,430‌

3.52%

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Euro-BTP;

March

2023

Short

20‌

$

2,481‌

$

72‌

Total

$

72‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

Diversified

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

52

Foreign

Currency

Contracts

Unrealized

Appreciation/

(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

Citigroup

Inc

02/10/2023

RON

17,800‌

EUR

3,583‌

$

38‌

$

—‌

Citigroup

Inc

02/24/2023

$

3,369‌

ZAR

58,000‌

41‌

—‌

HSBC

Securities

Inc

02/24/2023

HUF

600,000‌

$

1,661‌

—‌

(

3‌

)

JPMorgan

Chase

02/15/2023

$

9,433‌

EUR

8,757‌

—‌

(

95‌

)

JPMorgan

Chase

02/24/2023

EUR

1,525‌

$

1,662‌

—‌

(

2‌

)

Total

$

79‌

$

(

100‌

)

Amounts

in

thousands.

Schedule

of

Investments

Diversified

International

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

53

INVESTMENT

COMPANIES

-

1

.54

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

1

.54

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

916,054‌

$

915‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(c)

71,506,520‌

71,507‌

$

72,422‌

TOTAL

INVESTMENT

COMPANIES

$

72,422‌

COMMON

STOCKS

-

98

.36

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

0

.42

%

BAE

Systems

PLC

1,854,635‌

$

19,633‌

Apparel

-

2

.83

%

Burberry

Group

PLC

575,742‌

17,538‌

Gildan

Activewear

Inc

(d)

909,200‌

28,508‌

LVMH

Moet

Hennessy

Louis

Vuitton

SE

100,336‌

87,591‌

$

133,637‌

Automobile

Manufacturers

-

1

.40

%

Bayerische

Motoren

Werke

AG

333,994‌

34,022‌

Ferrari

NV

82,342‌

20,576‌

Kia

Corp

207,135‌

11,285‌

$

65,883‌

Banks

-

11

.51

%

AIB

Group

PLC

2,841,819‌

11,937‌

Bank

Leumi

Le-Israel

BM

2,271,950‌

20,078‌

Bank

Negara

Indonesia

Persero

Tbk

PT

35,326,800‌

21,655‌

Bank

of

Ireland

Group

PLC

3,073,455‌

32,836‌

Bank

Rakyat

Indonesia

Persero

Tbk

PT

159,200,320‌

48,822‌

Bankinter

SA

1,858,435‌

13,409‌

Credicorp

Ltd

106,108‌

14,250‌

DBS

Group

Holdings

Ltd

1,737,100‌

47,555‌

FinecoBank

Banca

Fineco

SpA

856,016‌

15,367‌

Grupo

Financiero

Banorte

SAB

de

CV

3,095,730‌

25,646‌

HDFC

Bank

Ltd

ADR

301,598‌

20,316‌

ICICI

Bank

Ltd

ADR

3,064,296‌

63,829‌

Kasikornbank

PCL

3,074,200‌

13,508‌

Kotak

Mahindra

Bank

Ltd

1,114,696‌

23,667‌

Lloyds

Banking

Group

PLC

56,475,782‌

36,754‌

Nordea

Bank

Abp

3,204,512‌

37,462‌

PT

Bank

Central

Asia

Tbk

30,679,670‌

17,411‌

Resona

Holdings

Inc

2,178,700‌

12,056‌

Toronto-Dominion

Bank/The

682,424‌

47,217‌

United

Overseas

Bank

Ltd

833,000‌

18,935‌

$

542,710‌

Beverages

-

1

.64

%

Diageo

PLC

862,688‌

37,722‌

Kweichow

Moutai

Co

Ltd

87,679‌

24,045‌

Remy

Cointreau

SA

82,601‌

15,553‌

$

77,320‌

Biotechnology

-

1

.18

%

CSL

Ltd

173,204‌

36,572‌

Genmab

A/S

(e)

48,344‌

18,946‌

$

55,518‌

Building

Materials

-

1

.33

%

Beijing

Oriental

Yuhong

Waterproof

Technology

Co

Ltd

4,914,048‌

27,085‌

CRH

PLC

758,191‌

35,425‌

$

62,510‌

Chemicals

-

2

.20

%

Air

Liquide

SA

146,194‌

23,278‌

K+S

AG

531,433‌

12,721‌

Nutrien

Ltd

474,800‌

39,303‌

Shin-Etsu

Chemical

Co

Ltd

192,400‌

28,364‌

$

103,666‌

Commercial

Services

-

1

.08

%

Localiza

Rent

a

Car

SA

2,152,460‌

25,110‌

Localiza

Rent

a

Car

SA

-

Rights

(e)

9,407‌

30‌

TechnoPro

Holdings

Inc

555,500‌

17,296‌

TOPPAN

INC

523,400‌

8,433‌

$

50,869‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Computers

-

2

.64

%

Capgemini

SE

236,197‌

$

44,827‌

Infosys

Ltd

1,730,269‌

32,590‌

Teleperformance

115,330‌

32,060‌

WNS

Holdings

Ltd

ADR

(e)

174,761‌

14,807‌

$

124,284‌

Consumer

Products

-

0

.37

%

Reckitt

Benckiser

Group

PLC

243,784‌

17,372‌

Cosmetics

&

Personal

Care

-

2

.70

%

L'Oreal

SA

165,459‌

68,320‌

Unilever

PLC

1,156,458‌

58,862‌

$

127,182‌

Distribution

&

Wholesale

-

1

.04

%

ITOCHU

Corp

731,500‌

23,643‌

Rexel

SA

(e)

41,123‌

910‌

RS

GROUP

PLC

1,097,340‌

12,758‌

Vamos

Locacao

de

Caminhoes

Maquinas

e

Equipamentos

SA

4,180,827‌

11,950‌

$

49,261‌

Diversified

Financial

Services

-

1

.95

%

Bajaj

Finance

Ltd

224,241‌

16,210‌

Banco

BTG

Pactual

SA

3,019,800‌

12,850‌

Brookfield

Asset

Management

Ltd

438,338‌

14,311‌

Deutsche

Boerse

AG

105,908‌

18,951‌

Euronext

NV

(f)

125,265‌

10,150‌

London

Stock

Exchange

Group

PLC

211,152‌

19,330‌

$

91,802‌

Electric

-

1

.50

%

Iberdrola

SA

4,178,776‌

49,024‌

SSE

PLC

1,009,135‌

21,540‌

$

70,564‌

Electronics

-

1

.79

%

Halma

PLC

527,492‌

14,044‌

Hoya

Corp

384,604‌

42,296‌

Kyocera

Corp

270,600‌

14,042‌

Shimadzu

Corp

454,200‌

13,958‌

$

84,340‌

Engineering

&

Construction

-

1

.03

%

Anhui

Honglu

Steel

Construction

Group

Co

Ltd

1,787,217‌

8,836‌

Vinci

SA

349,915‌

39,536‌

$

48,372‌

Food

-

3

.86

%

Danone

SA

386,623‌

21,202‌

Dino

Polska

SA

(e),(f)

94,821‌

8,590‌

Nestle

SA

703,395‌

85,821‌

Seven

&

i

Holdings

Co

Ltd

1,229,800‌

58,062‌

Want

Want

China

Holdings

Ltd

12,680,000‌

8,259‌

$

181,934‌

Food

Service

-

0

.41

%

Compass

Group

PLC

811,311‌

19,381‌

Healthcare

-

Products

-

0

.66

%

Alcon

Inc

284,023‌

21,432‌

Sartorius

Stedim

Biotech

27,735‌

9,675‌

$

31,107‌

Healthcare

-

Services

-

1

.27

%

ICON

PLC

(e)

129,939‌

29,978‌

Lonza

Group

AG

52,440‌

29,914‌

$

59,892‌

Home

Builders

-

0

.63

%

Taylor

Wimpey

PLC

20,606,767‌

29,899‌

Home

Furnishings

-

0

.84

%

Haier

Smart

Home

Co

Ltd

6,918,200‌

25,515‌

Howden

Joinery

Group

PLC

1,660,327‌

14,167‌

$

39,682‌

Insurance

-

5

.47

%

AIA

Group

Ltd

5,713,600‌

64,607‌

ASR

Nederland

NV

255,321‌

12,085‌

AXA

SA

1,109,922‌

34,628‌

Schedule

of

Investments

Diversified

International

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

54

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Insurance

(continued)

Fairfax

Financial

Holdings

Ltd

55,500‌

$

36,743‌

MS&AD

Insurance

Group

Holdings

Inc

658,100‌

21,108‌

Muenchener

Rueckversicherungs-Gesellschaft

AG

in

Muenchen

121,728‌

43,969‌

Prudential

PLC

1,634,076‌

27,150‌

Tryg

A/S

769,432‌

17,657‌

$

257,947‌

Internet

-

1

.35

%

JD.com

Inc

1,190,400‌

35,347‌

Pinduoduo

Inc

ADR

(e)

287,089‌

28,129‌

$

63,476‌

Investment

Companies

-

0

.21

%

EXOR

NV

(e)

122,351‌

9,726‌

Iron

&

Steel

-

0

.45

%

Nippon

Steel

Corp

1,029,800‌

21,435‌

Leisure

Products

&

Services

-

1

.03

%

Shimano

Inc

203,100‌

36,220‌

Yamaha

Motor

Co

Ltd

506,000‌

12,463‌

$

48,683‌

Machinery

-

Construction

&

Mining

-

1

.76

%

Mitsubishi

Electric

Corp

2,262,800‌

24,938‌

Mitsubishi

Heavy

Industries

Ltd

928,800‌

36,418‌

Weir

Group

PLC/The

979,654‌

21,596‌

$

82,952‌

Machinery

-

Diversified

-

2

.53

%

Atlas

Copco

AB

-

A

Shares

3,084,041‌

36,595‌

Keyence

Corp

110,700‌

50,963‌

NARI

Technology

Co

Ltd

3,467,030‌

13,590‌

THK

Co

Ltd

854,900‌

18,143‌

$

119,291‌

Metal

Fabrication

&

Hardware

-

0

.37

%

APL

Apollo

Tubes

Ltd

1,245,504‌

17,456‌

Mining

-

3

.62

%

Anglo

American

PLC

582,287‌

25,114‌

BHP

Group

Ltd

1,670,951‌

58,520‌

Franco-Nevada

Corp

343,902‌

50,451‌

Rio

Tinto

Ltd

407,180‌

36,539‌

$

170,624‌

Oil

&

Gas

-

4

.48

%

BP

PLC

6,836,530‌

41,294‌

Equinor

ASA

652,816‌

19,896‌

Noble

Corp

PLC

(e)

322,142‌

13,108‌

Reliance

Industries

Ltd

727,085‌

20,975‌

Shell

PLC

2,205,157‌

64,738‌

Suncor

Energy

Inc

792,700‌

27,513‌

Tourmaline

Oil

Corp

508,800‌

23,712‌

$

211,236‌

Oil

&

Gas

Services

-

0

.98

%

Schlumberger

Ltd

808,467‌

46,066‌

Pharmaceuticals

-

7

.28

%

AstraZeneca

PLC

658,233‌

86,236‌

Merck

KGaA

105,593‌

22,040‌

Novo

Nordisk

A/S

835,313‌

115,599‌

Roche

Holding

AG

211,105‌

65,901‌

Sanofi

543,319‌

53,204‌

$

342,980‌

Pipelines

-

0

.20

%

Gaztransport

Et

Technigaz

SA

83,531‌

9,235‌

Private

Equity

-

3

.10

%

3i

Group

PLC

4,244,202‌

82,803‌

Brookfield

Corp

1,701,553‌

63,303‌

$

146,106‌

Real

Estate

-

0

.38

%

Mitsubishi

Estate

Co

Ltd

1,392,300‌

17,895‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

-

0

.33

%

CapitaLand

Integrated

Commercial

Trust

7,398,700‌

$

12,105‌

Segro

PLC

325,041‌

3,346‌

$

15,451‌

Retail

-

5

.49

%

ABC-Mart

Inc

160,200‌

8,634‌

Alimentation

Couche-Tard

Inc

1,261,992‌

57,629‌

Arezzo

Industria

e

Comercio

SA

489,800‌

8,472‌

Bosideng

International

Holdings

Ltd

18,966,000‌

10,569‌

Dollarama

Inc

361,600‌

21,625‌

JD

Sports

Fashion

PLC

15,879,199‌

32,006‌

Li

Ning

Co

Ltd

885,500‌

8,754‌

MatsukiyoCocokara

&

Co

224,800‌

11,214‌

Swatch

Group

AG/The

-

BR

24,941‌

9,030‌

Wal-Mart

de

Mexico

SAB

de

CV

13,574,578‌

53,021‌

Yum

China

Holdings

Inc

610,201‌

37,595‌

$

258,549‌

Semiconductors

-

9

.34

%

Advantest

Corp

233,300‌

16,723‌

ASM

International

NV

59,062‌

19,975‌

ASML

Holding

NV

163,466‌

108,156‌

Infineon

Technologies

AG

595,071‌

21,429‌

Renesas

Electronics

Corp

(e)

2,701,000‌

27,783‌

Samsung

Electronics

Co

Ltd

1,935,519‌

96,409‌

SK

Hynix

Inc

305,307‌

22,087‌

Taiwan

Semiconductor

Manufacturing

Co

Ltd

7,240,544‌

127,772‌

$

440,334‌

Software

-

0

.97

%

Dassault

Systemes

SE

611,702‌

22,750‌

Nexon

Co

Ltd

630,300‌

15,198‌

TIS

Inc

271,400‌

7,826‌

$

45,774‌

Telecommunications

-

1

.38

%

Nice

Ltd

ADR

(e)

117,647‌

24,404‌

Nippon

Telegraph

&

Telephone

Corp

1,359,600‌

40,768‌

$

65,172‌

Toys,

Games

&

Hobbies

-

1

.19

%

Nintendo

Co

Ltd

1,296,400‌

56,209‌

Transportation

-

2

.17

%

Canadian

National

Railway

Co

437,348‌

52,059‌

Canadian

Pacific

Railway

Ltd

638,300‌

50,381‌

$

102,440‌

TOTAL

COMMON

STOCKS

$

4,635,855‌

Total

Investments

$

4,708,277‌

Other

Assets

and

Liabilities

-  0.10%

4,624‌

TOTAL

NET

ASSETS

-

100.00%

$

4,712,901‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$915

or

0.02%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$880

or

0.02%

of

net

assets.

(e)

Non-income

producing

security

(f)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$18,740

or

0.40%

of

net

assets.

Schedule

of

Investments

Diversified

International

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

55

Portfolio

Summary  (unaudited)

Location

Percent

United

Kingdom

14

.93‌

%

Japan

13

.60‌

%

Canada

10

.86‌

%

France

9

.82‌

%

China

4

.63‌

%

Switzerland

4

.49‌

%

India

4

.46‌

%

Netherlands

3

.41‌

%

Germany

3

.24‌

%

Denmark

3

.22‌

%

United

States

2

.80‌

%

Australia

2

.80‌

%

Korea,

Republic

Of

2

.76‌

%

Taiwan

2

.71‌

%

Ireland

2

.34‌

%

Indonesia

1

.87‌

%

Mexico

1

.67‌

%

Singapore

1

.67‌

%

Hong

Kong

1

.59‌

%

Spain

1

.32‌

%

Brazil

1

.23‌

%

Israel

0

.95‌

%

Finland

0

.79‌

%

Sweden

0

.78‌

%

Italy

0

.77‌

%

Norway

0

.42‌

%

Peru

0

.30‌

%

Thailand

0

.29‌

%

Poland

0

.18‌

%

Other

Assets

and

Liabilities

0

.10‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

310,042‌

$

238,535‌

$

71,507‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

91,593‌

380,722‌

472,315‌

—‌

$

91,593‌

$

690,764‌

$

710,850‌

$

71,507‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

192‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

360‌

—‌

—‌

—‌

$

552‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Equity

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

56

INVESTMENT

COMPANIES

-

2

.00

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

2

.00

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

5,971,188‌

$

5,971‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b),(c)

192,706,543‌

192,707‌

$

198,678‌

TOTAL

INVESTMENT

COMPANIES

$

198,678‌

COMMON

STOCKS

-

98

.20

%

Shares

Held

Value

(000's)

Apparel

-

0

.71

%

NIKE

Inc

549,488‌

$

69,966‌

Automobile

Manufacturers

-

3

.26

%

Cummins

Inc

332,608‌

82,999‌

PACCAR

Inc

2,195,100‌

239,946‌

$

322,945‌

Automobile

Parts

&

Equipment

-

2

.55

%

Magna

International

Inc

3,896,434‌

253,034‌

Banks

-

10

.46

%

Bank

of

America

Corp

5,029,167‌

178,435‌

First

Republic

Bank/CA

879,828‌

123,950‌

JPMorgan

Chase

&

Co

1,738,515‌

243,322‌

Morgan

Stanley

2,892,239‌

281,502‌

PNC

Financial

Services

Group

Inc/The

1,265,537‌

209,358‌

$

1,036,567‌

Beverages

-

1

.60

%

Coca-Cola

Co/The

2,589,007‌

158,758‌

Biotechnology

-

1

.88

%

Corteva

Inc

2,883,746‌

185,857‌

Chemicals

-

2

.45

%

Air

Products

and

Chemicals

Inc

547,191‌

175,380‌

PPG

Industries

Inc

517,772‌

67,487‌

$

242,867‌

Computers

-

1

.48

%

Apple

Inc

1,018,984‌

147,029‌

Diversified

Financial

Services

-

3

.94

%

BlackRock

Inc

316,488‌

240,281‌

Discover

Financial

Services

1,290,071‌

150,590‌

$

390,871‌

Electric

-

5

.22

%

Eversource

Energy

305,848‌

25,181‌

NextEra

Energy

Inc

2,445,710‌

182,523‌

Sempra

Energy

399,539‌

64,058‌

WEC

Energy

Group

Inc

1,341,230‌

126,062‌

Xcel

Energy

Inc

1,736,610‌

119,427‌

$

517,251‌

Food

-

2

.77

%

Hormel

Foods

Corp

4,352,029‌

197,191‌

Tyson

Foods

Inc

1,167,547‌

76,766‌

$

273,957‌

Healthcare

-

Products

-

4

.85

%

Abbott

Laboratories

1,765,489‌

195,175‌

Medtronic

PLC

2,024,174‌

169,403‌

STERIS

PLC

559,441‌

115,530‌

$

480,108‌

Healthcare

-

Services

-

0

.93

%

UnitedHealth

Group

Inc

184,879‌

92,290‌

Home

Builders

-

1

.51

%

DR

Horton

Inc

1,512,227‌

149,242‌

Insurance

-

3

.84

%

Chubb

Ltd

925,057‌

210,441‌

Fidelity

National

Financial

Inc

3,863,499‌

170,110‌

$

380,551‌

Machinery

-

Diversified

-

2

.22

%

Deere

&

Co

521,168‌

220,371‌

Media

-

3

.19

%

Cable

One

Inc

76,414‌

60,358‌

Comcast

Corp

-

Class

A

6,499,525‌

255,756‌

$

316,114‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Miscellaneous

Manufacturers

-

3

.95

%

Parker-Hannifin

Corp

728,857‌

$

237,607‌

Trane

Technologies

PLC

860,060‌

154,054‌

$

391,661‌

Oil

&

Gas

-

5

.96

%

Chevron

Corp

879,997‌

153,137‌

EOG

Resources

Inc

1,499,510‌

198,310‌

Marathon

Petroleum

Corp

1,856,750‌

238,630‌

$

590,077‌

Pharmaceuticals

-

9

.98

%

Becton

Dickinson

and

Co

834,222‌

210,407‌

Eli

Lilly

&

Co

28,738‌

9,890‌

Merck

&

Co

Inc

2,334,652‌

250,765‌

Novartis

AG

ADR

2,218,218‌

201,015‌

Pfizer

Inc

2,873,025‌

126,873‌

Roche

Holding

AG

ADR

4,863,366‌

190,401‌

$

989,351‌

Pipelines

-

1

.97

%

Enterprise

Products

Partners

LP

7,605,917‌

194,711‌

Private

Equity

-

2

.03

%

KKR

&

Co

Inc

3,608,171‌

201,372‌

REITs

-

4

.30

%

Alexandria

Real

Estate

Equities

Inc

1,113,987‌

179,062‌

Digital

Realty

Trust

Inc

1,273,270‌

145,942‌

Realty

Income

Corp

1,488,719‌

100,980‌

$

425,984‌

Retail

-

3

.67

%

Costco

Wholesale

Corp

367,913‌

188,055‌

Starbucks

Corp

1,038,625‌

113,356‌

Target

Corp

363,786‌

62,622‌

$

364,033‌

Semiconductors

-

3

.73

%

Microchip

Technology

Inc

2,657,539‌

206,278‌

Taiwan

Semiconductor

Manufacturing

Co

Ltd

ADR

1,761,969‌

163,387‌

$

369,665‌

Software

-

3

.71

%

Fidelity

National

Information

Services

Inc

1,161,941‌

87,192‌

Microsoft

Corp

496,661‌

123,078‌

SAP

SE

ADR

(d)

1,329,368‌

157,570‌

$

367,840‌

Telecommunications

-

4

.64

%

BCE

Inc

4,875,730‌

230,622‌

Verizon

Communications

Inc

5,506,917‌

228,923‌

$

459,545‌

Transportation

-

1

.40

%

Expeditors

International

of

Washington

Inc

931,619‌

100,755‌

Union

Pacific

Corp

183,815‌

37,533‌

$

138,288‌

TOTAL

COMMON

STOCKS

$

9,730,305‌

Total

Investments

$

9,928,983‌

Other

Assets

and

Liabilities

-  (0.20)%

(

20,074‌

)

TOTAL

NET

ASSETS

-

100.00%

$

9,908,909‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$25,771

or

0.26%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$25,768

or

0.26%

of

net

assets.

Schedule

of

Investments

Equity

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

57

Portfolio

Summary  (unaudited)

Sector

Percent

Financial

24

.57‌

%

Consumer,

Non-cyclical

22

.01‌

%

Consumer,

Cyclical

11

.70‌

%

Technology

8

.92‌

%

Energy

7

.93‌

%

Communications

7

.83‌

%

Industrial

7

.57‌

%

Utilities

5

.22‌

%

Basic

Materials

2

.45‌

%

Money

Market

Funds

2

.00‌

%

Other

Assets

and

Liabilities

(

0

.20‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

751,898‌

$

559,191‌

$

192,707‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

169,364‌

358,619‌

527,983‌

—‌

$

169,364‌

$

1,110,517‌

$

1,087,174‌

$

192,707‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

1,029‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

815‌

—‌

—‌

—‌

$

1,844‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

58

INVESTMENT

COMPANIES

-

11

.03

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

11

.03

%

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b)

46,664,045‌

$

46,664‌

TOTAL

INVESTMENT

COMPANIES

$

46,664‌

BONDS

-

83

.80

%

Principal

Amount

(000's)

Value

(000's)

Banks

-

5

.31

%

Banco

Mercantil

del

Norte

SA/Grand

Cayman

5.88%,

01/24/2027

(c),(d),(e),(f)

$

4,050‌

$

3,740‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.64%

5.88%,

01/24/2027

(c),(d),(e)

400‌

369‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.64%

Bank

Hapoalim

BM

3.26%,

01/21/2032

(d),(e),(f)

6,175‌

5,438‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.16%

Bank

Leumi

Le-Israel

BM

7.13%,

07/18/2033

(d),(e),(f)

3,100‌

3,202‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.47%

Israel

Discount

Bank

Ltd

5.38%,

01/26/2028

(f)

4,850‌

4,838‌

Standard

Chartered

PLC

7.75%,

08/15/2027

(c),(d),(e),(f)

4,750‌

4,869‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.98%

$

22,456‌

Building

Materials

-

0

.63

%

Cemex

SAB

de

CV

5.13%,

06/08/2026

(c),(d),(f)

1,600‌

1,473‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.53%

5.13%,

06/08/2026

(c),(d)

1,300‌

1,199‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.53%

$

2,672‌

Chemicals

-

1

.62

%

ICL

Group

Ltd

6.38%,

05/31/2038

(f)

1,400‌

1,398‌

Sasol

Financing

USA

LLC

4.38%,

09/18/2026

3,175‌

2,921‌

5.50%,

03/18/2031

1,900‌

1,658‌

6.50%,

09/27/2028

925‌

893‌

$

6,870‌

Diversified

Financial

Services

-

0

.51

%

SOCAR

Turkey

Enerji

AS

via

Steas

Funding

1

DAC

7.23%,

03/17/2026

2,200‌

2,151‌

Electric

-

2

.05

%

Adani

Electricity

Mumbai

Ltd

3.95%,

02/12/2030

(f)

700‌

522‌

3.95%,

02/12/2030

2,800‌

2,088‌

Alfa

Desarrollo

SpA

4.55%,

09/27/2051

(f)

1,071‌

859‌

Comision

Federal

de

Electricidad

5.00%,

09/29/2036

3,216‌

2,746‌

Lamar

Funding

Ltd

3.96%,

05/07/2025

2,150‌

2,058‌

NPC

Ukrenergo

0.00%,

11/09/2028

(f),(g)

2,350‌

403‌

$

8,676‌

Energy

-

Alternate

Sources

-

0

.62

%

Energo-Pro

AS

8.50%,

02/04/2027

(f)

2,775‌

2,636‌

Engineering

&

Construction

-

0

.46

%

IHS

Holding

Ltd

5.63%,

11/29/2026

(f)

2,300‌

1,942‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Internet

-

2

.72

%

Prosus

NV

3.26%,

01/19/2027

(f)

$

5,100‌

$

4,630‌

3.26%,

01/19/2027

550‌

499‌

4.19%,

01/19/2032

2,850‌

2,444‌

Tencent

Holdings

Ltd

3.68%,

04/22/2041

1,525‌

1,208‌

3.93%,

01/19/2038

3,200‌

2,742‌

$

11,523‌

Iron

&

Steel

-

0

.72

%

CSN

Inova

Ventures

6.75%,

01/28/2028

3,050‌

3,046‌

Lodging

-

1

.03

%

Melco

Resorts

Finance

Ltd

5.25%,

04/26/2026

500‌

470‌

5.63%,

07/17/2027

(f)

300‌

273‌

5.63%,

07/17/2027

950‌

865‌

5.75%,

07/21/2028

3,050‌

2,734‌

$

4,342‌

Mining

-

1

.70

%

Corp

Nacional

del

Cobre

de

Chile

5.13%,

02/02/2033

(f),(h)

1,350‌

1,353‌

Stillwater

Mining

Co

4.00%,

11/16/2026

(f)

4,275‌

3,935‌

4.00%,

11/16/2026

450‌

414‌

4.50%,

11/16/2029

(f)

1,550‌

1,328‌

4.50%,

11/16/2029

200‌

172‌

$

7,202‌

Oil

&

Gas

-

8

.57

%

Ecopetrol

SA

8.88%,

01/13/2033

1,400‌

1,436‌

Energean

Israel

Finance

Ltd

4.88%,

03/30/2026

(f)

800‌

747‌

5.38%,

03/30/2028

(f)

4,300‌

3,956‌

KazMunayGas

National

Co

JSC

5.38%,

04/24/2030

6,950‌

6,410‌

Kosmos

Energy

Ltd

7.13%,

04/04/2026

2,875‌

2,600‌

7.50%,

03/01/2028

(f)

350‌

299‌

7.50%,

03/01/2028

1,950‌

1,665‌

Leviathan

Bond

Ltd

5.75%,

06/30/2023

(f)

1,900‌

1,896‌

6.13%,

06/30/2025

(f)

2,050‌

2,035‌

6.50%,

06/30/2027

(f)

3,525‌

3,468‌

MC

Brazil

Downstream

Trading

SARL

7.25%,

06/30/2031

(f)

46‌

40‌

Petroleos

Mexicanos

5.35%,

02/12/2028

2,525‌

2,201‌

5.95%,

01/28/2031

1,150‌

921‌

6.50%,

01/23/2029

950‌

859‌

6.70%,

02/16/2032

2,325‌

1,930‌

6.84%,

01/23/2030

1,800‌

1,566‌

10.00%,

02/07/2033

(f),(h)

1,650‌

1,612‌

Tengizchevroil

Finance

Co

International

Ltd

4.00%,

08/15/2026

2,900‌

2,587‌

$

36,228‌

Pipelines

-

1

.69

%

Galaxy

Pipeline

Assets

Bidco

Ltd

2.16%,

03/31/2034

(f)

2,774‌

2,394‌

2.16%,

03/31/2034

5,502‌

4,747‌

$

7,141‌

Real

Estate

-

1

.60

%

Country

Garden

Holdings

Co

Ltd

2.70%,

07/12/2026

600‌

389‌

3.13%,

10/22/2025

2,125‌

1,456‌

4.20%,

02/06/2026

3,200‌

2,193‌

5.40%,

05/27/2025

350‌

266‌

7.25%,

04/08/2026

900‌

684‌

Schedule

of

Investments

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

59

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Real

Estate

(continued)

MAF

Global

Securities

Ltd

7.88%,

06/30/2027

(c),(d)

$

1,075‌

$

1,115‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.89%

Powerlong

Real

Estate

Holdings

Ltd

4.90%,

05/13/2026

400‌

118‌

6.25%,

08/10/2024

500‌

152‌

6.95%,

07/23/2023

1,150‌

389‌

$

6,762‌

Semiconductors

-

0

.47

%

SK

Hynix

Inc

6.25%,

01/17/2026

(f)

1,350‌

1,364‌

6.38%,

01/17/2028

(f)

600‌

609‌

$

1,973‌

Sovereign

-

52

.36

%

1MDB

Global

Investments

Ltd

4.40%,

03/09/2023

1,000‌

982‌

Angolan

Government

International

Bond

8.00%,

11/26/2029

1,625‌

1,506‌

8.75%,

04/14/2032

(f)

5,200‌

4,803‌

8.75%,

04/14/2032

725‌

670‌

Bahamas

Government

International

Bond

6.00%,

11/21/2028

4,850‌

3,939‌

9.00%,

06/16/2029

(f)

600‌

542‌

Brazil

Notas

do

Tesouro

Nacional

Serie

F

9.76%,

01/01/2027

BRL

111,100‌

20,055‌

Colombia

Government

International

Bond

3.00%,

01/30/2030

$

4,800‌

3,737‌

3.13%,

04/15/2031

750‌

567‌

4.50%,

03/15/2029

4,100‌

3,615‌

7.50%,

02/02/2034

(h)

1,125‌

1,112‌

Czech

Republic

Government

Bond

1.00%,

06/26/2026

CZK

107,200‌

4,291‌

1.25%,

02/14/2025

81,400‌

3,416‌

2.40%,

09/17/2025

73,600‌

3,112‌

Ecuador

Government

International

Bond

2.50%,

07/31/2035

(i)

$

10,100‌

4,897‌

El

Salvador

Government

International

Bond

6.38%,

01/18/2027

3,150‌

1,725‌

7.63%,

09/21/2034

1,100‌

519‌

7.63%,

02/01/2041

2,250‌

1,057‌

7.65%,

06/15/2035

2,350‌

1,131‌

8.63%,

02/28/2029

3,450‌

1,827‌

Ghana

Government

International

Bond

7.63%,

05/16/2029

350‌

129‌

10.75%,

10/14/2030

650‌

452‌

Hungary

Government

International

Bond

6.13%,

05/22/2028

(f)

4,175‌

4,317‌

6.25%,

09/22/2032

(f)

4,150‌

4,290‌

Indonesia

Treasury

Bond

7.00%,

02/15/2033

IDR

156,500,000‌

10,615‌

7.13%,

06/15/2038

42,000,000‌

2,861‌

7.50%,

05/15/2038

30,600,000‌

2,141‌

Iraq

International

Bond

5.80%,

01/15/2028

$

9,484‌

8,777‌

6.75%,

03/09/2023

400‌

397‌

Israel

Government

International

Bond

4.50%,

01/17/2033

4,875‌

4,879‌

Ivory

Coast

Government

International

Bond

4.88%,

01/30/2032

EUR

9,400‌

7,999‌

4.88%,

01/30/2032

(f)

175‌

149‌

5.88%,

10/17/2031

1,200‌

1,096‌

Mexican

Bonos

7.75%,

11/23/2034

MXN

384,400‌

19,026‌

7.75%,

11/13/2042

84,000‌

4,027‌

Mexico

Government

International

Bond

4.88%,

05/19/2033

$

5,425‌

5,208‌

6.35%,

02/09/2035

4,850‌

5,149‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Sovereign

(continued)

Pakistan

Government

International

Bond

6.88%,

12/05/2027

$

2,325‌

$

977‌

7.38%,

04/08/2031

2,100‌

873‌

Republic

of

Poland

Government

Bond

0.00%,

07/25/2024

(g)

PLN

24,700‌

5,242‌

2.50%,

07/25/2026

20,000‌

4,111‌

Republic

of

South

Africa

Government

Bond

8.88%,

02/28/2035

ZAR

283,500‌

14,074‌

Republic

of

South

Africa

Government

International

Bond

5.75%,

09/30/2049

$

750‌

571‌

Republic

of

Uzbekistan

International

Bond

4.75%,

02/20/2024

1,325‌

1,300‌

Romania

Government

Bond

4.85%,

07/25/2029

RON

13,300‌

2,543‌

5.00%,

02/12/2029

14,075‌

2,738‌

Romanian

Government

International

Bond

1.38%,

12/02/2029

EUR

1,158‌

949‌

2.00%,

04/14/2033

5,300‌

3,926‌

3.62%,

05/26/2030

2,250‌

2,071‌

Saudi

Government

International

Bond

4.50%,

10/26/2046

$

8,475‌

7,584‌

4.63%,

10/04/2047

200‌

181‌

4.75%,

01/18/2028

(f)

3,500‌

3,545‌

4.88%,

07/18/2033

(f)

3,475‌

3,536‌

5.00%,

01/18/2053

(f)

2,775‌

2,644‌

Senegal

Government

International

Bond

4.75%,

03/13/2028

EUR

2,425‌

2,329‌

6.25%,

07/30/2024

$

725‌

711‌

Serbia

International

Bond

6.25%,

05/26/2028

(f)

1,575‌

1,599‌

Sri

Lanka

Government

International

Bond

0.00%,

04/18/2023

(g)

800‌

272‌

0.00%,

06/28/2024

(g)

550‌

187‌

0.00%,

06/03/2025

(g)

700‌

245‌

0.00%,

11/03/2025

(g)

8,690‌

3,024‌

0.00%,

07/18/2026

(g)

1,350‌

465‌

0.00%,

05/11/2027

(g)

850‌

288‌

0.00%,

04/18/2028

(g)

500‌

169‌

State

Agency

of

Roads

of

Ukraine

0.00%,

06/24/2030

(f),(g)

2,700‌

482‌

0.00%,

06/24/2030

(g)

3,489‌

623‌

Tunisian

Republic

5.75%,

01/30/2025

500‌

325‌

6.38%,

07/15/2026

EUR

8,525‌

5,543‌

Ukraine

Government

International

Bond

0.00%,

09/01/2027

(g)

$

1,400‌

300‌

0.00%,

09/01/2028

(g)

3,950‌

861‌

0.00%,

05/21/2031

(f),(g)

1,250‌

248‌

0.00%,

05/21/2031

(g)

875‌

174‌

0.00%,

08/01/2041

(g),(i)

2,300‌

734‌

Zambia

Government

International

Bond

0.00%,

04/14/2024

(g)

2,075‌

1,038‌

$

221,497‌

Supranational

Bank

-

0

.83

%

Africa

Finance

Corp

2.88%,

04/28/2028

(f)

4,100‌

3,520‌

Transportation

-

0

.91

%

Transnet

SOC

Ltd

8.25%,

02/06/2028

(f),(h)

3,850‌

3,860‌

TOTAL

BONDS

$

354,497‌

Schedule

of

Investments

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

60

CONVERTIBLE

BONDS

-

0

.86

%

Principal

Amount

(000's)

Value

(000's)

Oil

&

Gas

-

0

.86

%

Abu

Dhabi

National

Oil

Co

0.70%,

06/04/2024

$

3,800‌

$

3,604‌

TOTAL

CONVERTIBLE

BONDS

$

3,604‌

Total

Investments

$

404,765‌

Other

Assets

and

Liabilities

-  4.31%

18,253‌

TOTAL

NET

ASSETS

-

100.00%

$

423,018‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Current

yield

shown

is

as

of

period

end.

(c)

Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(d)

Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(e)

Security

is

a

contingent

convertible

security,

("CoCo").

CoCo's

are

hybrid

debt

securities

that

may

convert

to

equity

or

have

their

principal

written

down

upon

occurrence

of

certain

"triggers".

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$17,618

or

4.16%

of

net

assets.

(f)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$94,794

or

22.41%

of

net

assets.

(g)

Non-income

producing

security

(h)

Security

purchased

on

a

when-issued

basis.

(i)

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

Portfolio

Summary  (unaudited)

Location

Percent

United

States

14

.77‌

%

Mexico

12

.30‌

%

Israel

7

.54‌

%

Cayman

Islands

5

.23‌

%

Brazil

4

.74‌

%

South

Africa

4

.37‌

%

Saudi

Arabia

4

.14‌

%

Indonesia

3

.70‌

%

Czech

Republic

3

.18‌

%

Romania

2

.89‌

%

Colombia

2

.46‌

%

Poland

2

.21‌

%

Cote

d'Ivoire

2

.19‌

%

Iraq

2

.16‌

%

Hungary

2

.03‌

%

Netherlands

1

.79‌

%

Jersey,

Channel

Islands

1

.69‌

%

Angola

1

.66‌

%

Kazakhstan

1

.52‌

%

El

Salvador

1

.48‌

%

Tunisia

1

.39‌

%

Ecuador

1

.16‌

%

United

Kingdom

1

.15‌

%

Sri

Lanka

1

.09‌

%

Bahamas

1

.06‌

%

Ukraine

0

.90‌

%

United

Arab

Emirates

0

.86‌

%

Supranational

0

.83‌

%

Senegal

0

.72‌

%

India

0

.61‌

%

Bermuda

0

.61‌

%

Chile

0

.52‌

%

Ireland

0

.51‌

%

Korea,

Republic

Of

0

.47‌

%

Pakistan

0

.44‌

%

Serbia

0

.38‌

%

Uzbekistan

0

.31‌

%

Zambia

0

.25‌

%

Virgin

Islands,

British

0

.23‌

%

Ghana

0

.14‌

%

Luxembourg

0

.01‌

%

Other

Assets

and

Liabilities

4

.31‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

91,693‌

$

45,029‌

$

46,664‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

32,519‌

92,371‌

124,890‌

—‌

$

32,519‌

$

184,064‌

$

169,919‌

$

46,664‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

290‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

97‌

—‌

—‌

—‌

$

387‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Euro-BTP;

March

2023

Short

51‌

$

6,327‌

$

183‌

US

Long

Bond;

March

2023

Long

221‌

28,702‌

242‌

Total

$

425‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

61

Foreign

Currency

Contracts

Unrealized

Appreciation/

(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

Citigroup

Inc

02/15/2023

EUR

1,050‌

$

1,138‌

$

4‌

$

(

1‌

)

Citigroup

Inc

02/15/2023

$

297‌

EUR

275‌

—‌

(

2‌

)

Citigroup

Inc

02/24/2023

CNH

27,600‌

$

4,095‌

—‌

(

3‌

)

Citigroup

Inc

02/24/2023

EUR

9,750‌

$

10,621‌

—‌

(

7‌

)

Citigroup

Inc

02/24/2023

HUF

3,880,000‌

$

10,607‌

117‌

—‌

Citigroup

Inc

02/24/2023

KRW

13,000,000‌

$

10,535‌

20‌

—‌

Citigroup

Inc

02/24/2023

THB

427,600‌

$

13,064‌

—‌

(

82‌

)

Citigroup

Inc

02/24/2023

$

27,356‌

ZAR

470,900‌

332‌

—‌

Citigroup

Inc

02/24/2023

$

5,897‌

BRL

30,600‌

—‌

(

109‌

)

Citigroup

Inc

02/24/2023

$

17,084‌

CNH

115,100‌

21‌

—‌

Goldman

Sachs

&

Co

02/24/2023

MYR

17,500‌

$

4,103‌

21‌

—‌

Goldman

Sachs

&

Co

02/24/2023

$

4,122‌

MYR

17,500‌

—‌

(

2‌

)

HSBC

Securities

Inc

02/15/2023

EUR

1,750‌

$

1,907‌

1‌

(

4‌

)

HSBC

Securities

Inc

02/15/2023

$

626‌

EUR

575‌

—‌

—‌

HSBC

Securities

Inc

02/24/2023

$

2,122‌

ILS

7,250‌

19‌

—‌

JPMorgan

Chase

02/15/2023

EUR

575‌

$

624‌

1‌

—‌

JPMorgan

Chase

02/15/2023

$

27,683‌

EUR

25,701‌

—‌

(

278‌

)

JPMorgan

Chase

02/24/2023

CZK

189,075‌

$

8,592‌

47‌

—‌

JPMorgan

Chase

02/24/2023

PLN

36,800‌

$

8,473‌

15‌

—‌

JPMorgan

Chase

02/24/2023

$

2,127‌

ILS

7,300‌

9‌

—‌

Total

$

607‌

$

(

488‌

)

Amounts

in

thousands.

Exchange

Cleared

Credit

Default

Swaps

Buy

Protection

Reference

Entity

Implied

Credit

Spread

as

of

January

31,

2023

(a)

(Pay)/

Receive

Fixed

Rate

Payment

Frequency

Maturity

Date

Notional

Amount

Upfront

Payments/

(Receipts)

Unrealized

Appreciation/

(Depreciation)

Fair

Value

Arab

Republic

of

Egypt,

4.55%,

11/20/2023

8.68%

(1.00)%

Quarterly

12/20/2027

$

4,200‌

$

1,025‌

$

91‌

$

1,116‌

ITRX.38

N/A

(5.00)%

Quarterly

12/20/2027

EUR

24,950‌

$

(

416‌

)

(

492‌

)

(

908‌

)

Republic

of

South

Africa,

5.87%,

09/16/2025

2.56%

(1.00)%

Quarterly

12/20/2027

$

13,800‌

$

926‌

(

32‌

)

894‌

Turkey

Government

International

Bond,

11.88%,

01/15/2030

5.53%

(1.00)%

Quarterly

12/20/2027

17,850‌

3,856‌

(

791‌

)

3,065‌

Total

$

5,391‌

$

(

1,224‌

)

$

4,167‌

Amounts

in

thousands.

(a)

Implied

credit

spreads,

represented

in

absolute

terms,

used

in

determining

the

market

value

of

credit

default

swap

agreements

on

corporate

issues

or

sovereign

issues

as

of

period

end

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

likelihood

or

risk

of

default

for

the

credit

derivative.

The

implied

credit

spread

of

a

particular

referenced

entity

reflects

the

cost

of

buying/selling

protection

and

may

include

upfront

payments

required

to

be

made

to

enter

into

the

agreement.

Wider

credit

spreads

represent

a

deterioration

of

the

referenced

entity's

credit

soundness

and

a

greater

likelihood

or

risk

of

default

or

other

credit

event

occurring

as

defined

under

the

terms

of

the

agreement.

Exchange

Cleared

Interest

Rate

Swaps

Floating

Rate

Index

(Pay)/

Receive

Floating

Rate

Fixed

Rate

Payment

Frequency

Paid

by

Fund

Payment

Frequency

Received

by

Fund

Effective

Date

(a)

Maturity

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Upfront

Payments/(Receipts)

Fair

Value

3

Month

KRW

Certificate

of

Deposit

Pay

3.25%

Annual

Annual

N/A

03/15/2028

KRW

11,200,000‌

$

58‌

$

—‌

$

58‌

3

Month

KRW

Certificate

of

Deposit

Pay

3.25%

Quarterly

Quarterly

N/A

03/15/2028

5,700,000‌

5‌

25‌

30‌

3

Month

Tel

AVIV

Inter-

Bank

Offered

Rate

Pay

3.21%

Quarterly

Annual

N/A

03/15/2028

ILS

65,750‌

$

(

24‌

)

—‌

(

24‌

)

Brazil

Cetip

DI

Interbank

Deposit

Rate

Pay

11.77%

Annual

Annual

N/A

01/02/2025

BRL

217,000‌

$

(

877‌

)

—‌

(

877‌

)

Brazil

Cetip

DI

Interbank

Deposit

Rate

Pay

11.77%

Annual

Annual

N/A

01/02/2025

231,000‌

262‌

(

1,014‌

)

(

752‌

)

MXN

TIIE

Banxico

Pay

8.76%

Monthly

Monthly

N/A

12/08/2032

MXN

86,700‌

$

105‌

3‌

108‌

Sinacofi

Chile

Interbank

Rate

Avg

Receive

7.37%

Annual

Annual

N/A

11/29/2024

CLP

21,600,000‌

$

303‌

—‌

303‌

Schedule

of

Investments

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

62

Exchange

Cleared

Interest

Rate

Swaps

(continued)

Floating

Rate

Index

(Pay)/

Receive

Floating

Rate

Fixed

Rate

Payment

Frequency

Paid

by

Fund

Payment

Frequency

Received

by

Fund

Effective

Date

(a)

Maturity

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Upfront

Payments/(Receipts)

Fair

Value

Sinacofi

Chile

Interbank

Rate

Avg

Receive

7.37%

Annual

Annual

N/A

11/29/2024

17,000,000‌

$

216‌

$

22‌

$

238‌

Total

$

48‌

$

(

964‌

)

$

(

916‌

)

Amounts

in

thousands.

(a)    

Forward

swap.

Schedule

of

Investments

Global

Emerging

Markets

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

63

INVESTMENT

COMPANIES

-

2

.29

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

2

.29

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

193,907‌

$

194‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(c)

5,268,225‌

5,268‌

$

5,462‌

TOTAL

INVESTMENT

COMPANIES

$

5,462‌

COMMON

STOCKS

-

98

.41

%

Shares

Held

Value

(000's)

Agriculture

-

0

.81

%

Muyuan

Foods

Co

Ltd

113,900‌

$

844‌

SLC

Agricola

SA

107,930‌

1,090‌

$

1,934‌

Airlines

-

0

.39

%

Air

Arabia

PJSC

1,563,182‌

939‌

Apparel

-

0

.84

%

Fila

Holdings

Corp

29,789‌

941‌

Youngone

Corp

30,264‌

1,076‌

$

2,017‌

Automobile

Manufacturers

-

3

.90

%

Ashok

Leyland

Ltd

691,457‌

1,269‌

BYD

Co

Ltd

68,500‌

2,140‌

Geely

Automobile

Holdings

Ltd

475,000‌

771‌

Hyundai

Motor

Co

12,049‌

1,643‌

Kia

Corp

37,665‌

2,052‌

Yadea

Group

Holdings

Ltd

(d)

634,000‌

1,445‌

$

9,320‌

Automobile

Parts

&

Equipment

-

0

.80

%

Fuyao

Glass

Industry

Group

Co

Ltd

(d)

171,600‌

844‌

Weichai

Power

Co

Ltd

709,000‌

1,071‌

$

1,915‌

Banks

-

8

.20

%

Bank

of

Jiangsu

Co

Ltd

694,170‌

764‌

Bank

Rakyat

Indonesia

Persero

Tbk

PT

7,590,382‌

2,328‌

Grupo

Financiero

Banorte

SAB

de

CV

317,700‌

2,632‌

HDFC

Bank

Ltd

89,282‌

1,757‌

Hong

Leong

Bank

Bhd

155,800‌

750‌

ICICI

Bank

Ltd

348,608‌

3,567‌

Kasikornbank

PCL

294,400‌

1,294‌

Kotak

Mahindra

Bank

Ltd

52,563‌

1,116‌

PT

Bank

Central

Asia

Tbk

4,299,900‌

2,440‌

Saudi

National

Bank/The

183,199‌

2,319‌

Vietnam

Technological

&

Commercial

Joint

Stock

Bank

(e)

453,900‌

612‌

$

19,579‌

Beverages

-

2

.63

%

Arca

Continental

SAB

de

CV

215,500‌

1,901‌

China

Resources

Beer

Holdings

Co

Ltd

212,000‌

1,596‌

Kweichow

Moutai

Co

Ltd

5,600‌

1,536‌

Tsingtao

Brewery

Co

Ltd

130,000‌

1,255‌

$

6,288‌

Building

Materials

-

1

.45

%

Beijing

Oriental

Yuhong

Waterproof

Technology

Co

Ltd

195,221‌

1,076‌

China

Lesso

Group

Holdings

Ltd

602,000‌

684‌

China

National

Building

Material

Co

Ltd

760,000‌

697‌

Voltas

Ltd

52,310‌

515‌

Xinyi

Glass

Holdings

Ltd

229,000‌

488‌

$

3,460‌

Chemicals

-

1

.31

%

Ganfeng

Lithium

Group

Co

Ltd

(d)

105,840‌

967‌

Navin

Fluorine

International

Ltd

12,447‌

601‌

Petronas

Chemicals

Group

Bhd

395,500‌

776‌

Supreme

Industries

Ltd

25,191‌

780‌

$

3,124‌

Coal

-

0

.48

%

Exxaro

Resources

Ltd

92,038‌

1,155‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Commercial

Services

-

1

.76

%

Bidvest

Group

Ltd/The

61,798‌

$

798‌

GPS

Participacoes

e

Empreendimentos

SA

(d),(e)

211,192‌

515‌

Jiangsu

Expressway

Co

Ltd

(e)

474,000‌

467‌

Localiza

Rent

a

Car

SA

83,470‌

974‌

Localiza

Rent

a

Car

SA

-

Rights

(e)

364‌

1‌

MegaStudyEdu

Co

Ltd

13,836‌

840‌

Network

International

Holdings

PLC

(d),(e)

184,553‌

599‌

$

4,194‌

Computers

-

2

.20

%

CI&T

Inc

(e)

35,930‌

267‌

Globant

SA

(e)

4,690‌

761‌

Infosys

Ltd

142,096‌

2,676‌

TDCX

Inc

ADR

(e)

58,202‌

767‌

WNS

Holdings

Ltd

ADR

(e)

9,299‌

788‌

$

5,259‌

Distribution

&

Wholesale

-

1

.25

%

AKR

Corporindo

Tbk

PT

19,882,200‌

1,743‌

Vamos

Locacao

de

Caminhoes

Maquinas

e

Equipamentos

SA

430,563‌

1,230‌

$

2,973‌

Diversified

Financial

Services

-

4

.47

%

Bajaj

Finance

Ltd

17,286‌

1,250‌

Banco

BTG

Pactual

SA

256,850‌

1,093‌

BOC

Aviation

Ltd

(d)

111,500‌

929‌

CreditAccess

Grameen

Ltd

(e)

90,815‌

958‌

Fubon

Financial

Holding

Co

Ltd

1,088,704‌

2,193‌

Hong

Kong

Exchanges

&

Clearing

Ltd

19,300‌

868‌

Intercorp

Financial

Services

Inc

23,443‌

562‌

KB

Financial

Group

Inc

61,641‌

2,809‌

$

10,662‌

Electric

-

0

.43

%

China

Longyuan

Power

Group

Corp

Ltd

740,000‌

1,022‌

Electrical

Components

&

Equipment

-

1

.06

%

Delta

Electronics

Inc

174,000‌

1,687‌

Frencken

Group

Ltd

931,500‌

838‌

$

2,525‌

Electronics

-

1

.11

%

HEG

Ltd

56,146‌

714‌

Lotes

Co

Ltd

32,000‌

814‌

Voltronic

Power

Technology

Corp

22,000‌

1,113‌

$

2,641‌

Energy

-

Alternate

Sources

-

0

.25

%

Sao

Martinho

SA

119,229‌

587‌

Engineering

&

Construction

-

0

.49

%

Samsung

Engineering

Co

Ltd

(e)

55,171‌

1,164‌

Food

-

2

.49

%

Bid

Corp

Ltd

64,420‌

1,330‌

Dino

Polska

SA

(d),(e)

23,848‌

2,161‌

LT

Foods

Ltd

331,624‌

469‌

Nestle

India

Ltd

3,535‌

822‌

Want

Want

China

Holdings

Ltd

1,768,000‌

1,151‌

$

5,933‌

Gas

-

0

.37

%

ENN

Natural

Gas

Co

Ltd

332,079‌

889‌

Hand

&

Machine

Tools

-

0

.25

%

Techtronic

Industries

Co

Ltd

47,000‌

606‌

Healthcare

-

Products

-

1

.47

%

Osstem

Implant

Co

Ltd

14,674‌

2,232‌

Shenzhen

Mindray

Bio-Medical

Electronics

Co

Ltd

25,600‌

1,266‌

$

3,498‌

Healthcare

-

Services

-

1

.07

%

Hygeia

Healthcare

Holdings

Co

Ltd

(d),(e)

124,400‌

987‌

IHH

Healthcare

Bhd

471,300‌

655‌

WuXi

AppTec

Co

Ltd

(d)

70,400‌

915‌

$

2,557‌

Schedule

of

Investments

Global

Emerging

Markets

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

64

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Home

Furnishings

-

0

.96

%

Haier

Smart

Home

Co

Ltd

460,400‌

$

1,698‌

Vestel

Beyaz

Esya

Sanayi

ve

Ticaret

AS

851,765‌

587‌

$

2,285‌

Insurance

-

3

.16

%

AIA

Group

Ltd

202,600‌

2,291‌

ICICI

Lombard

General

Insurance

Co

Ltd

(d)

58,519‌

810‌

ICICI

Prudential

Life

Insurance

Co

Ltd

(d)

110,366‌

611‌

PICC

Property

&

Casualty

Co

Ltd

1,868,000‌

1,756‌

Qualitas

Controladora

SAB

de

CV

(f)

375,400‌

2,074‌

$

7,542‌

Internet

-

15

.72

%

Alibaba

Group

Holding

Ltd

(e)

438,924‌

6,035‌

Baidu

Inc

(e)

145,350‌

2,443‌

IndiaMart

InterMesh

Ltd

(d)

13,221‌

736‌

JD.com

Inc

93,333‌

2,771‌

Meituan

(d),(e)

201,600‌

4,507‌

My

EG

Services

Bhd

6,756,500‌

1,448‌

Naspers

Ltd

15,175‌

2,934‌

Pinduoduo

Inc

ADR

(e)

29,602‌

2,900‌

Tencent

Holdings

Ltd

254,000‌

12,377‌

Trip.com

Group

Ltd

ADR

(e)

37,178‌

1,367‌

$

37,518‌

Investment

Companies

-

0

.30

%

VEF

AB

(e)

2,206,097‌

469‌

Yangzijiang

Financial

Holding

Ltd

(e)

914,500‌

259‌

$

728‌

Iron

&

Steel

-

2

.31

%

Gerdau

SA

ADR

205,635‌

1,337‌

Hunan

Valin

Steel

Co

Ltd

859,889‌

634‌

Severstal

PAO

(e)

31,471‌

—‌

Vale

SA

189,900‌

3,549‌

$

5,520‌

Leisure

Products

&

Services

-

0

.54

%

Eicher

Motors

Ltd

32,535‌

1,301‌

Lodging

-

0

.41

%

Galaxy

Entertainment

Group

Ltd

142,000‌

989‌

Machinery

-

Diversified

-

1

.14

%

NARI

Technology

Co

Ltd

311,858‌

1,222‌

WEG

SA

199,800‌

1,509‌

$

2,731‌

Metal

Fabrication

&

Hardware

-

0

.39

%

APL

Apollo

Tubes

Ltd

66,315‌

929‌

Mining

-

2

.09

%

Anglo

American

PLC

53,983‌

2,328‌

Impala

Platinum

Holdings

Ltd

134,713‌

1,562‌

Polyus

PJSC

(e)

343‌

—‌

Shandong

Gold

Mining

Co

Ltd

(d)

570,750‌

1,101‌

$

4,991‌

Miscellaneous

Manufacturers

-

0

.47

%

Elite

Material

Co

Ltd

84,000‌

510‌

Pidilite

Industries

Ltd

22,058‌

616‌

$

1,126‌

Oil

&

Gas

-

4

.61

%

Indian

Oil

Corp

Ltd

1,546,524‌

1,547‌

Petro

Rio

SA

(e)

158,600‌

1,318‌

Reliance

Industries

Ltd

199,948‌

5,768‌

Saudi

Arabian

Oil

Co

(d)

267,747‌

2,362‌

$

10,995‌

Pharmaceuticals

-

1

.20

%

Caplin

Point

Laboratories

Ltd

72,949‌

619‌

Grand

Pharmaceutical

Group

Ltd

1,050,000‌

654‌

Hansoh

Pharmaceutical

Group

Co

Ltd

(d)

448,000‌

917‌

Richter

Gedeon

Nyrt

30,403‌

686‌

$

2,876‌

Pipelines

-

1

.02

%

Gaztransport

Et

Technigaz

SA

21,942‌

2,426‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Real

Estate

-

1

.30

%

China

Overseas

Land

&

Investment

Ltd

390,500‌

$

1,055‌

China

Resources

Land

Ltd

246,000‌

1,179‌

Multiplan

Empreendimentos

Imobiliarios

SA

186,900‌

881‌

$

3,115‌

Retail

-

4

.12

%

Arezzo

Industria

e

Comercio

SA

38,000‌

657‌

El

Puerto

de

Liverpool

SAB

de

CV

119,358‌

757‌

Jumbo

SA

66,994‌

1,203‌

Lojas

Renner

SA

166,942‌

716‌

Mitra

Adiperkasa

Tbk

PT

(e)

9,967,100‌

866‌

Wal-Mart

de

Mexico

SAB

de

CV

680,300‌

2,657‌

Yifeng

Pharmacy

Chain

Co

Ltd

134,973‌

1,136‌

Yum

China

Holdings

Inc

30,250‌

1,833‌

$

9,825‌

Semiconductors

-

15

.50

%

ASML

Holding

NV

-

NY

Reg

Shares

2,255‌

1,490‌

Hana

Materials

Inc

15,436‌

477‌

MediaTek

Inc

83,000‌

2,005‌

Novatek

Microelectronics

Corp

61,300‌

730‌

Parade

Technologies

Ltd

15,000‌

464‌

RichWave

Technology

Corp

68,371‌

301‌

Samsung

Electronics

Co

Ltd

252,365‌

12,570‌

SK

Hynix

Inc

31,808‌

2,301‌

Taiwan

Semiconductor

Manufacturing

Co

Ltd

943,685‌

16,653‌

$

36,991‌

Shipbuilding

-

0

.38

%

Yangzijiang

Shipbuilding

Holdings

Ltd

914,500‌

902‌

Software

-

0

.96

%

NetEase

Inc

129,625‌

2,300‌

Telecommunications

-

1

.79

%

America

Movil

SAB

de

CV

ADR

89,319‌

1,869‌

KT

Corp

32,216‌

918‌

Millicom

International

Cellular

SA

(e)

36,315‌

622‌

ZTE

Corp

358,800‌

867‌

$

4,276‌

Transportation

-

0

.56

%

Container

Corp

Of

India

Ltd

63,247‌

487‌

MISC

Bhd

494,500‌

849‌

$

1,336‌

TOTAL

COMMON

STOCKS

$

234,943‌

PREFERRED

STOCKS

-

0

.02

%

Shares

Held

Value

(000's)

Diversified

Financial

Services

-

0

.02

%

Fubon

Financial

Holding

Co

Ltd

0.33%

20,961‌

$

40‌

TOTAL

PREFERRED

STOCKS

$

40‌

Total

Investments

$

240,445‌

Other

Assets

and

Liabilities

-  (0.72)%

(

1,718‌

)

TOTAL

NET

ASSETS

-

100.00%

$

238,727‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$194

or

0.08%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$20,406

or

8.55%

of

net

assets.

(e)

Non-income

producing

security

(f)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$191

or

0.08%

of

net

assets.

Schedule

of

Investments

Global

Emerging

Markets

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

65

Portfolio

Summary

Location

Percent

China

27

.94‌

%

India

12

.87‌

%

Korea,

Republic

Of

12

.17‌

%

Taiwan

10

.93‌

%

Brazil

6

.61‌

%

Mexico

4

.98‌

%

Hong

Kong

4

.37‌

%

South

Africa

3

.25‌

%

Indonesia

3

.09‌

%

United

States

2

.48‌

%

Malaysia

2

.23‌

%

Saudi

Arabia

1

.96‌

%

France

1

.02‌

%

United

Kingdom

0

.98‌

%

Poland

0

.91‌

%

Singapore

0

.82‌

%

United

Arab

Emirates

0

.64‌

%

Netherlands

0

.62‌

%

Thailand

0

.54‌

%

Greece

0

.50‌

%

Uruguay

0

.32‌

%

Hungary

0

.29‌

%

Luxembourg

0

.26‌

%

Vietnam

0

.26‌

%

Turkey

0

.25‌

%

Peru

0

.24‌

%

Sweden

0

.19‌

%

Russian

Federation

0

.00‌

%

Other

Assets

and

Liabilities

(

0

.72‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

15,980‌

$

10,712‌

$

5,268‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

523‌

20,215‌

20,738‌

—‌

$

523‌

$

36,195‌

$

31,450‌

$

5,268‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

40‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

39‌

—‌

—‌

—‌

$

79‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Global

Real

Estate

Securities

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

66

INVESTMENT

COMPANIES

-

2

.42

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

2

.42

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

943‌

$

1‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(c)

57,162,414‌

57,162‌

$

57,163‌

TOTAL

INVESTMENT

COMPANIES

$

57,163‌

COMMON

STOCKS

-

97

.76

%

Shares

Held

Value

(000's)

Engineering

&

Construction

-

0

.46

%

Cellnex

Telecom

SA

-

Rights

(d)

278,118‌

$

10,899‌

Entertainment

-

0

.69

%

Marriott

Vacations

Worldwide

Corp

100,972‌

16,160‌

Private

Equity

-

1

.13

%

Capitaland

Investment

Ltd/Singapore

8,840,100‌

26,782‌

Real

Estate

-

10

.50

%

Castellum

AB

605,238‌

8,305‌

CK

Asset

Holdings

Ltd

4,091,000‌

26,156‌

Fabege

AB

1,163,774‌

10,999‌

Hongkong

Land

Holdings

Ltd

280,007‌

1,369‌

Mitsubishi

Estate

Co

Ltd

2,596,900‌

33,378‌

Mitsui

Fudosan

Co

Ltd

2,396,093‌

44,912‌

Sun

Hung

Kai

Properties

Ltd

4,253,000‌

60,314‌

Vonovia

SE

1,628,068‌

45,989‌

Wharf

Real

Estate

Investment

Co

Ltd

1,368,000‌

7,831‌

Wihlborgs

Fastigheter

AB

1,070,655‌

8,815‌

$

248,068‌

REITs

-

84

.43

%

Aedifica

SA

146,329‌

12,841‌

Agree

Realty

Corp

308,657‌

23,035‌

Alexandria

Real

Estate

Equities

Inc

353,147‌

56,765‌

Allied

Properties

Real

Estate

Investment

Trust

1,162,039‌

25,921‌

American

Homes

4

Rent

1,485,621‌

50,942‌

American

Tower

Corp

276,865‌

61,849‌

Apartment

Income

REIT

Corp

678,714‌

25,968‌

AvalonBay

Communities

Inc

405,858‌

72,015‌

Big

Yellow

Group

PLC

660,534‌

9,852‌

Boston

Properties

Inc

21,950‌

1,636‌

Broadstone

Net

Lease

Inc

1,224,368‌

22,173‌

Canadian

Apartment

Properties

REIT

617,976‌

22,851‌

CapitaLand

Integrated

Commercial

Trust

21,040,218‌

34,425‌

Charter

Hall

Group

1,006,414‌

9,910‌

Cousins

Properties

Inc

681,386‌

18,684‌

CubeSmart

1,014,085‌

46,435‌

Daiwa

House

REIT

Investment

Corp

8,329‌

18,122‌

Daiwa

Office

Investment

Corp

3,999‌

18,831‌

Digital

Realty

Trust

Inc

456,392‌

52,312‌

Equinix

Inc

68,782‌

50,770‌

Equity

LifeStyle

Properties

Inc

579,018‌

41,562‌

Equity

Residential

203,026‌

12,923‌

Essex

Property

Trust

Inc

246,247‌

55,669‌

Extra

Space

Storage

Inc

460,177‌

72,630‌

First

Industrial

Realty

Trust

Inc

817,856‌

43,633‌

Gaming

and

Leisure

Properties

Inc

528,697‌

28,317‌

Gecina

SA

163,428‌

19,358‌

GLP

J-Reit

16,008‌

18,114‌

Goodman

Group

2,159,736‌

30,806‌

GPT

Group/The

6,091,352‌

19,745‌

Great

Portland

Estates

PLC

521,747‌

3,670‌

Healthcare

Realty

Trust

Inc

1,086,385‌

23,390‌

Industrial

&

Infrastructure

Fund

Investment

Corp

14,909‌

16,523‌

Inmobiliaria

Colonial

Socimi

SA

2,388,771‌

17,423‌

InterRent

Real

Estate

Investment

Trust

936,120‌

10,138‌

Invitation

Homes

Inc

1,897,190‌

61,659‌

Japan

Metropolitan

Fund

Invest

41,268‌

31,904‌

Kilroy

Realty

Corp

511,013‌

20,972‌

Klepierre

SA

(e)

925,182‌

23,481‌

Link

REIT

5,150,800‌

41,229‌

Mapletree

Industrial

Trust

7,524,200‌

13,674‌

Medical

Properties

Trust

Inc

1,314,234‌

17,019‌

Merlin

Properties

Socimi

SA

2,080,090‌

20,328‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

(continued)

Mori

Hills

REIT

Investment

Corp

8,870‌

$

10,079‌

Nippon

Accommodations

Fund

Inc

650‌

2,917‌

Nomura

Real

Estate

Master

Fund

Inc

(e)

1,291‌

1,510‌

Prologis

Inc

835,313‌

107,989‌

Prologis

Property

Mexico

SA

de

CV

3,525,382‌

11,497‌

Regency

Centers

Corp

526,565‌

35,085‌

Rexford

Industrial

Realty

Inc

1,054,387‌

66,922‌

Sabra

Health

Care

REIT

Inc

1,067,881‌

14,416‌

Safestore

Holdings

PLC

1,729,952‌

21,541‌

Saul

Centers

Inc

194,676‌

8,334‌

Scentre

Group

10,029,965‌

21,763‌

Segro

PLC

4,361,768‌

44,898‌

Sekisui

House

Reit

Inc

19,276‌

10,537‌

Simon

Property

Group

Inc

104,689‌

13,448‌

Stockland

3,384,893‌

9,458‌

Summit

Industrial

Income

REIT

1,400,062‌

24,075‌

Sun

Communities

Inc

373,402‌

58,572‌

Sunstone

Hotel

Investors

Inc

1,794,725‌

19,724‌

Terreno

Realty

Corp

195,084‌

12,569‌

UNITE

Group

PLC/The

1,207,090‌

14,870‌

Ventas

Inc

1,374,564‌

71,216‌

VICI

Properties

Inc

2,128,396‌

72,749‌

Welltower

Inc

804,340‌

60,358‌

$

1,994,031‌

Telecommunications

-

0

.55

%

NEXTDC

Ltd

(e)

1,836,163‌

12,976‌

TOTAL

COMMON

STOCKS

$

2,308,916‌

Total

Investments

$

2,366,079‌

Other

Assets

and

Liabilities

-  (0.18)%

(

4,331‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,361,748‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1

or

0.00%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$10,899

or

0.46%

of

net

assets.

(e)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Location

Percent

United

States

62

.45‌

%

Japan

8

.76‌

%

Hong

Kong

5

.80‌

%

Australia

4

.43‌

%

United

Kingdom

4

.01‌

%

Canada

3

.52‌

%

Singapore

3

.17‌

%

Spain

2

.06‌

%

Germany

1

.95‌

%

France

1

.81‌

%

Sweden

1

.19‌

%

Belgium

0

.54‌

%

Mexico

0

.49‌

%

Other

Assets

and

Liabilities

(

0

.18‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

Global

Real

Estate

Securities

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

67

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

101,499‌

$

44,337‌

$

57,162‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

24,613‌

48,967‌

73,580‌

—‌

$

24,613‌

$

150,466‌

$

117,917‌

$

57,162‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

98‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

16‌

—‌

—‌

—‌

$

114‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Government

&

High

Quality

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

68

INVESTMENT

COMPANIES

-

0

.50

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

0

.50

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

101‌

$

—‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(c)

3,225,795‌

3,226‌

$

3,226‌

TOTAL

INVESTMENT

COMPANIES

$

3,226‌

BONDS

-

11

.99

%

Principal

Amount

(000's)

Value

(000's)

Automobile

Asset

Backed

Securities

-

3

.56

%

Capital

One

Prime

Auto

Receivables

Trust

2021-1

0.32%,

02/18/2025

$

2,679‌

$

2,651‌

CarMax

Auto

Owner

Trust

2021-4

0.24%,

11/15/2024

654‌

650‌

CarMax

Auto

Owner

Trust

2022-1

0.91%,

02/18/2025

4,823‌

4,767‌

Carvana

Auto

Receivables

Trust

2021-P3

0.38%,

01/10/2025

1,904‌

1,889‌

Carvana

Auto

Receivables

Trust

2021-P4

0.82%,

04/10/2025

3,232‌

3,203‌

GM

Financial

Consumer

Automobile

Receivables

Trust

2021-4

0.28%,

11/18/2024

2,603‌

2,579‌

Santander

Drive

Auto

Receivables

Trust

2022-1

1.36%,

12/16/2024

1,287‌

1,285‌

Santander

Drive

Auto

Receivables

Trust

2022-7

5.81%,

01/15/2026

5,255‌

5,274‌

Santander

Retail

Auto

Lease

Trust

2021-B

0.31%,

01/22/2024

(d)

247‌

246‌

World

Omni

Select

Auto

Trust

2021-A

0.29%,

02/18/2025

98‌

98‌

$

22,642‌

Commercial

Mortgage

Backed

Securities

-

0

.37

%

Ginnie

Mae

0.26%,

10/16/2054

(e),(f)

22,815‌

263‌

0.41%,

10/16/2053

(e),(f)

4,224‌

64‌

0.42%,

04/16/2047

(e),(f)

33,787‌

332‌

0.44%,

11/16/2052

(e),(f)

12,049‌

111‌

0.44%,

06/16/2057

(e),(f)

3,749‌

82‌

0.58%,

08/16/2051

(e),(f)

24,101‌

411‌

0.58%,

03/16/2060

(e),(f)

9,088‌

381‌

0.62%,

07/16/2060

(e),(f)

6,751‌

298‌

0.64%,

02/16/2053

(e),(f)

15,831‌

254‌

0.64%,

12/16/2053

(e),(f)

9,042‌

164‌

$

2,360‌

Mortgage

Backed

Securities

-

8

.06

%

Citigroup

Mortgage

Loan

Trust

2015-PS1

5.25%,

09/25/2042

(d),(f)

4,165‌

4,007‌

CSMC

Trust

2015-1

3.91%,

01/25/2045

(d),(f)

3,118‌

2,902‌

Fannie

Mae

Interest

Strip

3.50%,

12/25/2043

(e),(f)

1,673‌

239‌

7.00%,

04/25/2024

(e)

3‌

—‌

Fannie

Mae

REMICS

0.00%,

06/25/2045

(e),(g)

5,453‌

186‌

1.00

x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.00%

1.54%,

09/25/2049

(e)

5,804‌

698‌

(1.00)

x

1

Month

USD

LIBOR

+

6.05%

2.50%,

02/25/2028

(e)

3,597‌

152‌

3.00%,

07/25/2032

(e)

4,321‌

350‌

3.00%,

10/25/2040

(e)

1,730‌

68‌

3.00%,

04/25/2042

918‌

890‌

3.00%,

05/25/2048

866‌

785‌

3.00%,

01/25/2051

(e)

12,989‌

2,060‌

3.50%,

02/25/2036

(e)

2,940‌

295‌

3.50%,

02/25/2043

213‌

208‌

3.50%,

02/25/2043

(e)

2,144‌

75‌

3.50%,

07/25/2043

(e)

4,827‌

390‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Mortgage

Backed

Securities

(continued)

Fannie

Mae

REMICS  

(continued)

3.50%,

08/25/2045

$

1,620‌

$

1,586‌

4.50%,

04/25/2045

(e)

7,947‌

1,722‌

5.11%,

04/25/2027

3‌

2‌

1.00

x

1

Month

USD

LIBOR

+

0.60%

7.00%,

04/25/2032

368‌

389‌

Freddie

Mac

REMICS

1.54%,

11/25/2049

(e)

6,777‌

794‌

(1.00)

x

1

Month

USD

LIBOR

+

6.05%

3.00%,

10/15/2041

33‌

33‌

3.00%,

04/15/2046

986‌

928‌

4.00%,

11/15/2042

(e)

1,833‌

271‌

4.00%,

11/15/2045

553‌

541‌

6.50%,

08/15/2027

16‌

16‌

Ginnie

Mae

1.61%,

06/20/2046

(e)

2,290‌

278‌

(1.00)

x

1

Month

USD

LIBOR

+

6.10%

1.71%,

10/20/2045

(e)

5,143‌

614‌

(1.00)

x

1

Month

USD

LIBOR

+

6.20%

1.71%,

11/20/2047

(e)

3,645‌

388‌

(1.00)

x

1

Month

USD

LIBOR

+

6.20%

1.81%,

08/20/2050

(e)

13,293‌

1,828‌

(1.00)

x

1

Month

USD

LIBOR

+

6.30%

1.81%,

07/20/2051

(e)

9,464‌

1,293‌

(1.00)

x

1

Month

USD

LIBOR

+

6.30%

1.81%,

08/20/2051

(e)

10,651‌

1,430‌

(1.00)

x

1

Month

USD

LIBOR

+

6.30%

3.00%,

07/20/2050

(e)

8,369‌

1,205‌

3.00%,

09/20/2050

(e)

15,395‌

2,246‌

3.00%,

10/20/2050

(e)

10,863‌

1,647‌

3.00%,

11/20/2050

(e)

21,624‌

3,208‌

3.00%,

11/20/2050

(e)

13,027‌

1,929‌

3.00%,

12/20/2050

(e)

8,365‌

1,283‌

3.50%,

08/20/2039

(e)

1,019‌

8‌

3.50%,

01/20/2043

(e)

7,541‌

1,236‌

3.50%,

10/20/2049

(e)

12,695‌

2,092‌

4.00%,

04/20/2044

(e)

1,825‌

146‌

4.00%,

01/20/2046

(e)

1,948‌

126‌

5.00%,

11/20/2039

1,168‌

1,188‌

JP

Morgan

Mortgage

Trust

2016-4

3.50%,

10/25/2046

(d),(f)

711‌

647‌

New

Residential

Mortgage

Loan

Trust

2015-2

5.38%,

08/25/2055

(d),(f)

3,951‌

3,732‌

NRP

Mortgage

Trust

2013-1

3.28%,

07/25/2043

(d),(f)

2,472‌

1,964‌

Sequoia

Mortgage

Trust

2013-2

3.63%,

02/25/2043

(f)

1,303‌

1,235‌

Sequoia

Mortgage

Trust

2017-3

3.75%,

04/25/2047

(d),(f)

2,018‌

1,781‌

Sequoia

Mortgage

Trust

2017-5

3.50%,

08/25/2047

(d),(f)

214‌

189‌

$

51,280‌

TOTAL

BONDS

$

76,282‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

92

.09

%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

8

.33

%

2.50%,

08/01/2027

$

353‌

$

339‌

3.00%,

02/01/2027

874‌

848‌

3.00%,

01/01/2033

2,033‌

1,981‌

3.00%,

04/01/2035

885‌

853‌

3.00%,

03/01/2037

1,886‌

1,804‌

3.00%,

10/01/2042

3,260‌

3,069‌

3.00%,

05/01/2043

1,232‌

1,160‌

3.00%,

07/01/2045

2,999‌

2,802‌

3.00%,

10/01/2046

4,487‌

4,181‌

3.50%,

11/01/2026

513‌

508‌

3.50%,

02/01/2032

1,395‌

1,385‌

Schedule

of

Investments

Government

&

High

Quality

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

69

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

(continued)

3.50%,

04/01/2032

$

1,292‌

$

1,283‌

3.50%,

12/01/2041

1,181‌

1,141‌

3.50%,

04/01/2042

2,697‌

2,606‌

3.50%,

07/01/2042

3,657‌

3,533‌

3.50%,

08/01/2043

2,437‌

2,352‌

3.50%,

02/01/2044

2,423‌

2,336‌

3.50%,

11/01/2046

2,000‌

1,914‌

4.00%,

12/01/2041

2,176‌

2,184‌

4.00%,

07/01/2042

1,760‌

1,767‌

4.00%,

09/15/2042

599‌

589‌

4.00%,

10/01/2045

3,627‌

3,612‌

4.22%,

10/01/2032

1‌

1‌

1.00

x

12

Month

USD

LIBOR

+

1.98%

4.50%,

04/01/2041

2,247‌

2,281‌

4.50%,

11/01/2043

1,974‌

2,007‌

5.00%,

10/01/2025

10‌

10‌

5.00%,

12/01/2032

10‌

10‌

5.00%,

02/01/2033

143‌

147‌

5.00%,

01/01/2034

1,567‌

1,612‌

5.00%,

05/01/2034

23‌

24‌

5.00%,

07/01/2035

1‌

1‌

5.00%,

07/01/2035

16‌

16‌

5.00%,

10/01/2035

3‌

3‌

5.00%,

11/01/2035

138‌

142‌

5.00%,

07/01/2044

1,199‌

1,233‌

5.00%,

03/01/2048

2,145‌

2,225‌

5.50%,

05/01/2033

2‌

3‌

5.50%,

10/01/2033

6‌

6‌

5.50%,

12/01/2033

124‌

130‌

5.50%,

07/01/2037

7‌

7‌

5.50%,

04/01/2038

3‌

3‌

5.50%,

05/01/2038

11‌

11‌

6.00%,

06/01/2028

2‌

2‌

6.00%,

05/01/2031

34‌

36‌

6.00%,

10/01/2031

1‌

1‌

6.00%,

02/01/2032

9‌

9‌

6.00%,

11/01/2033

134‌

138‌

6.00%,

09/01/2034

25‌

26‌

6.00%,

02/01/2035

14‌

14‌

6.00%,

10/01/2036

16‌

17‌

6.00%,

03/01/2037

52‌

54‌

6.00%,

05/01/2037

62‌

66‌

6.00%,

03/01/2038

21‌

21‌

6.00%,

04/01/2038

31‌

32‌

6.00%,

07/01/2038

56‌

57‌

6.00%,

10/01/2038

41‌

43‌

6.50%,

05/01/2023

3‌

3‌

6.50%,

03/01/2029

12‌

12‌

6.50%,

04/01/2031

28‌

29‌

6.50%,

10/01/2031

23‌

24‌

6.50%,

02/01/2032

3‌

3‌

6.50%,

04/01/2032

3‌

3‌

6.50%,

04/01/2035

2‌

3‌

7.00%,

01/01/2028

79‌

80‌

7.00%,

06/01/2029

28‌

28‌

7.00%,

04/01/2031

20‌

21‌

7.00%,

10/01/2031

41‌

43‌

7.00%,

04/01/2032

59‌

62‌

7.50%,

12/01/2030

2‌

2‌

7.50%,

02/01/2031

1‌

1‌

7.50%,

02/01/2031

5‌

5‌

8.50%,

07/01/2029

52‌

52‌

$

53,006‌

Federal

National

Mortgage

Association

(FNMA)

-

0

.58

%

3.00%,

04/01/2043

3,110‌

2,888‌

3.95%,

12/01/2033

21‌

20‌

1.00

x

12

Month

USD

LIBOR

+

1.70%

5.50%,

05/01/2033

53‌

53‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

National

Mortgage

Association

(FNMA)

(continued)

6.00%,

01/01/2032

$

65‌

$

65‌

6.00%,

04/01/2033

95‌

96‌

6.00%,

09/01/2034

160‌

161‌

6.50%,

06/01/2031

28‌

29‌

6.50%,

11/01/2032

184‌

185‌

6.50%,

11/01/2032

67‌

68‌

7.00%,

08/01/2028

19‌

19‌

7.00%,

12/01/2028

25‌

26‌

7.00%,

07/01/2029

19‌

19‌

7.00%,

07/01/2032

18‌

18‌

7.50%,

12/01/2024

16‌

16‌

7.50%,

02/01/2030

24‌

24‌

$

3,687‌

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

60

.82

%

2.00%,

08/01/2028

747‌

704‌

2.00%,

11/01/2035

8,430‌

7,682‌

2.00%,

03/01/2051

13,658‌

11,724‌

2.00%,

05/01/2051

16,918‌

14,375‌

2.00%,

11/01/2051

11,070‌

9,393‌

2.00%,

11/01/2051

9,906‌

8,389‌

2.00%,

12/01/2051

18,858‌

16,085‌

2.00%,

12/01/2051

18,365‌

15,579‌

2.00%,

01/01/2052

15,746‌

13,330‌

2.00%,

02/01/2052

12,140‌

10,420‌

2.00%,

02/01/2052

14,675‌

12,439‌

2.50%,

06/01/2027

1,242‌

1,193‌

2.50%,

05/01/2028

662‌

636‌

2.50%,

08/01/2028

861‌

822‌

2.50%,

03/01/2030

2,465‌

2,345‌

2.50%,

12/01/2031

3,467‌

3,293‌

2.50%,

08/01/2035

7,479‌

7,031‌

2.50%,

08/01/2050

8,888‌

7,883‌

2.50%,

07/01/2051

13,164‌

11,725‌

2.50%,

12/01/2051

6,749‌

6,012‌

2.50%,

12/01/2051

14,143‌

12,766‌

2.50%,

12/01/2051

16,016‌

14,277‌

2.50%,

01/01/2052

13,677‌

12,237‌

2.50%,

02/01/2052

13,234‌

11,717‌

2.50%,

04/01/2052

8,377‌

7,440‌

3.00%,

05/01/2029

1,803‌

1,756‌

3.00%,

01/01/2030

159‌

155‌

3.00%,

08/01/2031

3,403‌

3,314‌

3.00%,

10/01/2036

3,058‌

2,923‌

3.00%,

12/01/2042

3,089‌

2,905‌

3.00%,

01/01/2043

2,689‌

2,529‌

3.00%,

07/01/2045

1,226‌

1,143‌

3.00%,

01/01/2046

2,779‌

2,591‌

3.00%,

07/01/2046

3,215‌

2,987‌

3.00%,

10/01/2046

3,638‌

3,379‌

3.00%,

12/01/2046

3,814‌

3,536‌

3.00%,

08/01/2049

1,663‌

1,529‌

3.00%,

10/01/2049

4,049‌

3,727‌

3.00%,

12/01/2049

3,795‌

3,491‌

3.00%,

07/01/2050

6,063‌

5,554‌

3.00%,

08/01/2050

4,901‌

4,490‌

3.00%,

09/01/2050

7,238‌

6,628‌

3.50%,

08/01/2031

1,788‌

1,759‌

3.50%,

06/01/2039

1,477‌

1,429‌

3.50%,

06/01/2042

1,158‌

1,117‌

3.50%,

11/01/2042

2,219‌

2,142‌

3.50%,

02/01/2043

1,084‌

1,047‌

3.50%,

05/01/2043

1,532‌

1,479‌

3.50%,

03/01/2045

2,321‌

2,231‌

3.50%,

03/01/2045

1,143‌

1,099‌

3.50%,

09/01/2045

2,179‌

2,091‌

3.50%,

11/01/2048

7,325‌

7,091‌

3.50%,

03/01/2050

8,699‌

8,418‌

Schedule

of

Investments

Government

&

High

Quality

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

70

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

3.50%,

02/01/2053

(h)

$

3,500‌

$

3,282‌

4.00%,

01/01/2034

467‌

465‌

4.00%,

10/01/2037

1,922‌

1,903‌

4.00%,

09/01/2040

920‌

912‌

4.00%,

02/01/2042

936‌

932‌

4.00%,

03/01/2043

1,444‌

1,431‌

4.00%,

08/01/2044

1,833‌

1,838‌

4.00%,

11/01/2044

1,426‌

1,430‌

4.00%,

07/01/2045

2,447‌

2,454‌

4.00%,

08/01/2045

2,760‌

2,768‌

4.00%,

08/01/2046

4,015‌

3,976‌

4.00%,

07/01/2047

3,890‌

3,898‌

4.00%,

10/01/2047

2,953‌

2,936‌

4.00%,

02/01/2048

3,289‌

3,270‌

4.00%,

02/01/2053

(h)

10,500‌

10,139‌

4.50%,

09/01/2025

239‌

241‌

4.50%,

08/01/2039

1,238‌

1,257‌

4.50%,

03/01/2041

1,404‌

1,423‌

4.50%,

09/01/2043

2,799‌

2,843‌

4.50%,

09/01/2043

1,990‌

2,021‌

4.50%,

11/01/2043

2,460‌

2,488‌

4.50%,

10/01/2044

1,712‌

1,739‌

4.50%,

12/01/2044

3,501‌

3,556‌

4.50%,

05/01/2045

1,669‌

1,695‌

4.50%,

09/01/2045

2,136‌

2,164‌

4.50%,

10/01/2045

3,106‌

3,155‌

4.50%,

11/01/2045

3,988‌

4,041‌

5.00%,

01/01/2026

12‌

12‌

5.00%,

04/01/2035

73‌

75‌

5.00%,

05/01/2035

27‌

28‌

5.00%,

07/01/2035

10‌

10‌

5.00%,

02/01/2038

979‌

1,010‌

5.00%,

03/01/2038

564‌

583‌

5.00%,

02/01/2040

2,786‌

2,908‌

5.00%,

05/01/2040

1,123‌

1,162‌

5.00%,

07/01/2040

615‌

633‌

5.00%,

07/01/2041

3,144‌

3,253‌

5.00%,

02/01/2044

1,393‌

1,441‌

5.00%,

06/01/2044

1,385‌

1,428‌

5.00%,

05/01/2048

2,405‌

2,492‌

5.50%,

06/01/2026

13‌

13‌

5.50%,

07/01/2033

265‌

276‌

5.50%,

02/01/2037

2‌

2‌

5.50%,

12/01/2037

429‌

444‌

5.50%,

03/01/2038

82‌

87‌

6.00%,

03/01/2029

14‌

14‌

6.00%,

12/01/2031

1‌

1‌

6.00%,

11/01/2032

5‌

5‌

6.00%,

11/01/2037

10‌

10‌

6.00%,

02/01/2038

31‌

32‌

6.00%,

03/01/2038

27‌

28‌

6.00%,

04/01/2039

232‌

239‌

6.50%,

09/01/2024

4‌

4‌

6.50%,

08/01/2028

9‌

10‌

6.50%,

03/01/2029

15‌

15‌

6.50%,

06/01/2031

48‌

50‌

6.50%,

12/01/2031

1‌

1‌

6.50%,

01/01/2032

24‌

24‌

6.50%,

04/01/2032

4‌

4‌

6.50%,

04/01/2032

4‌

4‌

6.50%,

08/01/2032

36‌

38‌

6.50%,

02/01/2033

43‌

45‌

6.50%,

04/01/2036

2‌

2‌

6.50%,

08/01/2036

18‌

19‌

6.50%,

08/01/2036

16‌

16‌

6.50%,

10/01/2036

13‌

14‌

6.50%,

11/01/2036

13‌

13‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

(continued)

6.50%,

07/01/2037

$

10‌

$

11‌

6.50%,

07/01/2037

3‌

3‌

6.50%,

08/01/2037

194‌

208‌

6.50%,

08/01/2037

15‌

16‌

6.50%,

02/01/2038

15‌

16‌

6.50%,

05/01/2038

1‌

1‌

7.00%,

11/01/2031

56‌

56‌

7.50%,

08/01/2032

5‌

5‌

$

387,055‌

Government

National

Mortgage

Association

(GNMA)

-

21

.33

%

2.00%,

08/20/2050

9,969‌

8,682‌

2.00%,

02/20/2051

16,980‌

14,756‌

2.50%,

06/20/2050

17,552‌

15,767‌

3.00%,

11/15/2042

1,456‌

1,379‌

3.00%,

12/15/2042

1,795‌

1,698‌

3.00%,

02/15/2043

2,642‌

2,500‌

3.00%,

07/20/2045

5,171‌

4,858‌

3.00%,

07/20/2046

1,714‌

1,602‌

3.00%,

08/20/2046

3,738‌

3,488‌

3.00%,

09/20/2046

3,663‌

3,391‌

3.00%,

09/20/2046

4,540‌

4,240‌

3.00%,

11/20/2046

2,156‌

1,990‌

3.00%,

12/20/2046

2,363‌

2,205‌

3.00%,

02/20/2047

3,005‌

2,794‌

3.00%,

08/20/2047

1,785‌

1,660‌

3.00%,

11/15/2047

4,305‌

4,065‌

3.50%,

08/20/2042

1,831‌

1,742‌

3.50%,

05/15/2043

3,262‌

3,163‌

3.50%,

06/20/2043

2,513‌

2,411‌

3.50%,

08/15/2043

2,920‌

2,832‌

3.50%,

04/20/2045

1,552‌

1,489‌

3.50%,

02/20/2047

1,244‌

1,191‌

3.50%,

05/20/2047

6,822‌

6,692‌

3.50%,

10/20/2047

2,213‌

2,119‌

3.50%,

11/20/2047

2,098‌

2,062‌

4.00%,

08/15/2041

1,464‌

1,447‌

4.00%,

09/15/2041

2,926‌

2,892‌

4.00%,

03/15/2044

1,795‌

1,784‌

4.00%,

10/20/2044

1,691‌

1,659‌

4.00%,

01/20/2048

7,330‌

7,327‌

4.50%,

02/01/2053

(h)

8,000‌

7,942‌

5.00%,

02/15/2034

49‌

51‌

5.00%,

10/15/2039

1,132‌

1,174‌

5.50%,

07/20/2033

413‌

428‌

5.50%,

03/20/2034

444‌

463‌

5.50%,

05/20/2035

43‌

45‌

5.50%,

02/01/2053

(h)

3,500‌

3,557‌

6.00%,

10/15/2023

3‌

3‌

6.00%,

11/15/2023

1‌

1‌

6.00%,

11/15/2023

2‌

2‌

6.00%,

04/20/2026

11‌

11‌

6.00%,

10/20/2028

2‌

2‌

6.00%,

02/20/2029

20‌

21‌

6.00%,

02/15/2033

10‌

10‌

6.00%,

07/20/2033

350‌

372‌

6.00%,

08/15/2038

58‌

59‌

6.00%,

02/01/2053

(h)

7,000‌

7,174‌

6.50%,

10/15/2023

1‌

1‌

6.50%,

12/15/2023

1‌

1‌

6.50%,

01/15/2024

2‌

2‌

6.50%,

01/15/2024

2‌

2‌

6.50%,

04/15/2024

1‌

1‌

6.50%,

04/20/2024

1‌

1‌

6.50%,

07/15/2024

2‌

2‌

6.50%,

01/15/2026

1‌

1‌

6.50%,

03/15/2026

2‌

2‌

6.50%,

07/20/2026

1‌

1‌

Schedule

of

Investments

Government

&

High

Quality

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

71

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Government

National

Mortgage

Association

(GNMA)

(continued)

6.50%,

10/20/2028

$

2‌

$

2‌

6.50%,

03/20/2031

20‌

20‌

6.50%,

04/20/2031

17‌

18‌

6.50%,

10/15/2031

6‌

6‌

6.50%,

07/15/2032

1‌

1‌

6.50%,

05/20/2034

248‌

258‌

7.00%,

01/15/2027

3‌

3‌

7.00%,

10/15/2027

1‌

1‌

7.00%,

10/15/2027

4‌

4‌

7.00%,

04/15/2028

1‌

1‌

7.00%,

06/15/2028

46‌

46‌

7.00%,

12/15/2028

25‌

25‌

7.00%,

01/15/2029

23‌

23‌

7.00%,

03/15/2029

15‌

14‌

7.00%,

04/15/2029

75‌

76‌

7.00%,

05/15/2031

3‌

3‌

7.50%,

03/15/2024

1‌

1‌

7.50%,

05/15/2027

1‌

1‌

7.50%,

06/15/2027

3‌

3‌

7.50%,

08/15/2029

16‌

16‌

7.50%,

10/15/2029

11‌

11‌

8.00%,

12/15/2030

2‌

3‌

$

135,750‌

U.S.

Treasury

Bill

-

1

.03

%

4.09%,

03/30/2023

(i)

6,575‌

6,528‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

586,026‌

Total

Investments

$

665,534‌

Other

Assets

and

Liabilities

-  (4.58)%

(

29,168‌

)

TOTAL

NET

ASSETS

-

100.00%

$

636,366‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$0

or

0.00%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$15,468

or

2.43%

of

net

assets.

(e)

Security

is

an

Interest

Only

Strip.

(f)

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(g)

Non-income

producing

security

(h)

Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

(i)

Rate

shown

is

the

discount

rate

of

the

original

purchase.

Portfolio

Summary  (unaudited)

Sector

Percent

Mortgage

Securities

99

.49‌

%

Asset

Backed

Securities

3

.56‌

%

Government

1

.03‌

%

Money

Market

Funds

0

.50‌

%

Other

Assets

and

Liabilities

(

4

.58‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

89,372‌

$

86,146‌

$

3,226‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

9,538‌

23,266‌

32,804‌

—‌

$

9,538‌

$

112,638‌

$

118,950‌

$

3,226‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

49‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

25‌

—‌

—‌

—‌

$

74‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

10

Year

Note;

March

2023

Long

147‌

$

16,834‌

$

239‌

US

5

Year

Note;

March

2023

Short

358‌

39,109‌

(

432‌

)

US

Long

Bond;

March

2023

Long

328‌

42,599‌

1,124‌

Total

$

931‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

72

INVESTMENT

COMPANIES

-

3

.42

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

3

.42

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

8,897,493‌

$

8,897‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b),(c)

96,759,982‌

96,760‌

$

105,657‌

TOTAL

INVESTMENT

COMPANIES

$

105,657‌

COMMON

STOCKS

-

0

.54

%

Shares

Held

Value

(000's)

Distribution

&

Wholesale

-

0

.20

%

ATD

New

Holdings

Inc

(d)

101,514‌

$

6,213‌

Electric

-

0

.00

%

Vistra

Energy

Corp

-

Rights

(e)

164,087‌

—‌

Leisure

Products

&

Services

-

0

.05

%

CWT

Travel

Group

(d)

209,235‌

1,595‌

CWT

Travel

Holdings

Inc

-

Class

A

Warrants

(d)

28,222‌

—‌

CWT

Travel

Holdings

Inc

-

Class

B

Warrants

(d)

29,708‌

—‌

$

1,595‌

Mining

-

0

.05

%

Arctic

Canadian

Diamond

Co

Ltd

(d),(e)

5,247‌

1,322‌

Miscellaneous

Manufacturers

-

0

.23

%

Utex

Industries

(d)

111,195‌

7,117‌

Utex

Industries

-

Warrants

(d),(e)

51,625‌

5‌

$

7,122‌

Oil

&

Gas

-

0

.00

%

Sabine

Oil

&

Gas

Holdings

Inc

(d),(e)

246‌

—‌

Software

-

0

.01

%

Skillsoft

Corp

(d)

189,362‌

364‌

Telecommunications

-

0

.00

%

Goodman

Networks

Inc

(d),(e)

15,207‌

—‌

TOTAL

COMMON

STOCKS

$

16,616‌

PREFERRED

STOCKS

-

0

.00

%

Shares

Held

Value

(000's)

Telecommunications

-

0

.00

%

Goodman

Networks

Inc

0.00%

(d),(e)

18,092‌

$

—‌

TOTAL

PREFERRED

STOCKS

$

—‌

BONDS

-

86

.37

%

Principal

Amount

(000's)

Value

(000's)

Advertising

-

1

.24

%

Advantage

Sales

&

Marketing

Inc

6.50%,

11/15/2028

(f)

$

1,080‌

$

821‌

Clear

Channel

International

BV

6.63%,

08/01/2025

(f)

250‌

243‌

Clear

Channel

Outdoor

Holdings

Inc

5.13%,

08/15/2027

(f)

888‌

805‌

7.50%,

06/01/2029

(f)

6,875‌

5,603‌

7.75%,

04/15/2028

(f)

4,840‌

4,118‌

CMG

Media

Corp

8.88%,

12/15/2027

(f)

1,333‌

1,040‌

Lamar

Media

Corp

3.63%,

01/15/2031

570‌

484‌

3.75%,

02/15/2028

671‌

609‌

4.00%,

02/15/2030

(g)

750‌

668‌

4.88%,

01/15/2029

500‌

471‌

National

CineMedia

LLC

5.88%,

04/15/2028

(f)

340‌

95‌

Outfront

Media

Capital

LLC

/

Outfront

Media

Capital

Corp

4.25%,

01/15/2029

(f)

9,670‌

8,313‌

4.63%,

03/15/2030

(f)

4,855‌

4,170‌

5.00%,

08/15/2027

(f)

10,730‌

9,870‌

Stagwell

Global

LLC

5.63%,

08/15/2029

(f)

895‌

784‌

Summer

BC

Bidco

B

LLC

5.50%,

10/31/2026

(f)

200‌

164‌

$

38,258‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Aerospace

&

Defense

-

2

.28

%

Bombardier

Inc

6.00%,

02/15/2028

(f)

$

500‌

$

474‌

7.13%,

06/15/2026

(f)

1,100‌

1,097‌

7.50%,

03/15/2025

(f)

1,021‌

1,022‌

7.50%,

02/01/2029

(f)

476‌

475‌

7.88%,

04/15/2027

(f)

1,950‌

1,948‌

F-Brasile

SpA

/

F-Brasile

US

LLC

7.38%,

08/15/2026

(f)

650‌

533‌

Howmet

Aerospace

Inc

3.00%,

01/15/2029

714‌

623‌

5.13%,

10/01/2024

1,140‌

1,134‌

5.90%,

02/01/2027

670‌

682‌

5.95%,

02/01/2037

710‌

717‌

6.75%,

01/15/2028

420‌

441‌

6.88%,

05/01/2025

790‌

814‌

Moog

Inc

4.25%,

12/15/2027

(f)

500‌

464‌

Rolls-Royce

PLC

3.63%,

10/14/2025

(f)

1,500‌

1,391‌

5.75%,

10/15/2027

(f)

1,107‌

1,077‌

Spirit

AeroSystems

Inc

4.60%,

06/15/2028

1,138‌

956‌

7.50%,

04/15/2025

(f)

1,050‌

1,054‌

TransDigm

Inc

4.63%,

01/15/2029

7,589‌

6,846‌

4.88%,

05/01/2029

16,285‌

14,693‌

5.50%,

11/15/2027

10,378‌

9,911‌

6.25%,

03/15/2026

(f)

13,163‌

13,158‌

6.38%,

06/15/2026

2,188‌

2,161‌

7.50%,

03/15/2027

5,105‌

5,145‌

8.00%,

12/15/2025

(f)

1,423‌

1,451‌

TransDigm

UK

Holdings

PLC

6.88%,

05/15/2026

880‌

872‌

Triumph

Group

Inc

6.25%,

09/15/2024

(f)

550‌

531‌

7.75%,

08/15/2025

546‌

464‌

8.88%,

06/01/2024

(f)

479‌

486‌

$

70,620‌

Agriculture

-

0

.10

%

Darling

Ingredients

Inc

6.00%,

06/15/2030

(f)

1,200‌

1,194‌

Vector

Group

Ltd

5.75%,

02/01/2029

(f)

1,341‌

1,169‌

10.50%,

11/01/2026

(f)

790‌

795‌

$

3,158‌

Airlines

-

1

.35

%

Air

Canada

3.88%,

08/15/2026

(f)

9,494‌

8,782‌

Air

Canada

2020-1

Class

C

Pass

Through

Trust

10.50%,

07/15/2026

(f)

120‌

127‌

Allegiant

Travel

Co

7.25%,

08/15/2027

(f)

918‌

897‌

8.50%,

02/05/2024

(f)

300‌

300‌

American

Airlines

2013-1

Class

A

Pass

Through

Trust

4.00%,

01/15/2027

837‌

762‌

American

Airlines

2014-1

Class

A

Pass

Through

Trust

3.70%,

04/01/2028

665‌

589‌

American

Airlines

2015-1

Class

A

Pass

Through

Trust

3.38%,

11/01/2028

823‌

712‌

American

Airlines

2016-1

Class

A

Pass

Through

Trust

4.10%,

07/15/2029

556‌

478‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

73

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Airlines

(continued)

American

Airlines

2016-2

Class

A

Pass

Through

Trust

3.65%,

12/15/2029

$

561‌

$

475‌

American

Airlines

2021-1

Class

B

Pass

Through

Trust

3.95%,

01/11/2032

1,681‌

1,416‌

American

Airlines

Inc

11.75%,

07/15/2025

(f)

1,465‌

1,631‌

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd

5.50%,

04/20/2026

(f)

4,605‌

4,515‌

5.75%,

04/20/2029

(f)

7,060‌

6,828‌

Delta

Air

Lines

Inc

2.90%,

10/28/2024

855‌

816‌

3.75%,

10/28/2029

(g)

510‌

451‌

4.38%,

04/19/2028

(g)

770‌

716‌

7.38%,

01/15/2026

(g)

840‌

874‌

Hawaiian

Airlines

2013-1

Class

A

Pass

Through

Certificates

3.90%,

07/15/2027

135‌

121‌

Hawaiian

Brand

Intellectual

Property

Ltd

/

HawaiianMiles

Loyalty

Ltd

5.75%,

01/20/2026

(f)

5,385‌

5,142‌

Spirit

Loyalty

Cayman

Ltd

/

Spirit

IP

Cayman

Ltd

8.00%,

09/20/2025

(f)

93‌

95‌

8.00%,

09/20/2025

(f)

537‌

550‌

United

Airlines

Holdings

Inc

4.88%,

01/15/2025

(g)

363‌

355‌

5.00%,

02/01/2024

(g)

446‌

444‌

United

Airlines

Inc

4.38%,

04/15/2026

(f)

3,661‌

3,475‌

4.63%,

04/15/2029

(f)

1,095‌

999‌

US

Airways

2012-2

Class

A

Pass

Through

Trust

4.63%,

12/03/2026

225‌

209‌

$

41,759‌

Apparel

-

0

.15

%

Crocs

Inc

4.13%,

08/15/2031

(f)

505‌

420‌

4.25%,

03/15/2029

(f)

300‌

261‌

Hanesbrands

Inc

4.63%,

05/15/2024

(f)

640‌

629‌

4.88%,

05/15/2026

(f)

425‌

396‌

Kontoor

Brands

Inc

4.13%,

11/15/2029

(f)

1,004‌

868‌

Levi

Strauss

&

Co

3.50%,

03/01/2031

(f),(g)

163‌

136‌

Under

Armour

Inc

3.25%,

06/15/2026

800‌

727‌

William

Carter

Co/The

5.63%,

03/15/2027

(f)

846‌

823‌

Wolverine

World

Wide

Inc

4.00%,

08/15/2029

(f)

500‌

403‌

$

4,663‌

Automobile

Manufacturers

-

2

.95

%

Allison

Transmission

Inc

3.75%,

01/30/2031

(f)

1,440‌

1,218‌

4.75%,

10/01/2027

(f)

1,025‌

972‌

5.88%,

06/01/2029

(f)

726‌

699‌

Aston

Martin

Capital

Holdings

Ltd

10.50%,

11/30/2025

(f)

1,514‌

1,479‌

Ford

Holdings

LLC

9.30%,

03/01/2030

1,079‌

1,238‌

Ford

Motor

Co

3.25%,

02/12/2032

2,475‌

1,964‌

4.35%,

12/08/2026

885‌

861‌

4.75%,

01/15/2043

2,072‌

1,618‌

5.29%,

12/08/2046

1,145‌

944‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Automobile

Manufacturers

(continued)

Ford

Motor

Co  

(continued)

6.10%,

08/19/2032

$

609‌

$

598‌

6.38%,

02/01/2029

214‌

216‌

6.63%,

10/01/2028

320‌

333‌

7.40%,

11/01/2046

825‌

851‌

7.45%,

07/16/2031

(g)

10,238‌

10,982‌

7.50%,

08/01/2026

50‌

52‌

9.63%,

04/22/2030

6,550‌

7,710‌

Ford

Motor

Credit

Co

LLC

2.30%,

02/10/2025

500‌

464‌

2.70%,

08/10/2026

424‌

378‌

2.90%,

02/16/2028

2,175‌

1,871‌

2.90%,

02/10/2029

300‌

250‌

3.38%,

11/13/2025

1,782‌

1,660‌

3.63%,

06/17/2031

455‌

379‌

3.66%,

09/08/2024

775‌

746‌

3.81%,

01/09/2024

1,000‌

979‌

3.82%,

11/02/2027

5,775‌

5,212‌

4.00%,

11/13/2030

18,745‌

16,367‌

4.06%,

11/01/2024

1,444‌

1,399‌

4.13%,

08/04/2025

1,500‌

1,433‌

4.13%,

08/17/2027

6,040‌

5,570‌

4.27%,

01/09/2027

1,185‌

1,108‌

4.39%,

01/08/2026

1,465‌

1,406‌

4.54%,

08/01/2026

3,855‌

3,659‌

4.69%,

06/09/2025

622‌

604‌

4.95%,

05/28/2027

500‌

477‌

5.11%,

05/03/2029

2,497‌

2,366‌

5.13%,

06/16/2025

1,865‌

1,833‌

5.58%,

03/18/2024

1,264‌

1,255‌

6.95%,

03/06/2026

1,827‌

1,868‌

7.35%,

03/06/2030

3,312‌

3,476‌

Jaguar

Land

Rover

Automotive

PLC

4.50%,

10/01/2027

(f),(g)

965‌

802‌

5.50%,

07/15/2029

(f)

534‌

426‌

5.88%,

01/15/2028

(f)

1,242‌

1,056‌

7.75%,

10/15/2025

(f)

1,070‌

1,054‌

JB

Poindexter

&

Co

Inc

7.13%,

04/15/2026

(f)

315‌

311‌

PM

General

Purchaser

LLC

9.50%,

10/01/2028

(f)

980‌

750‌

Wabash

National

Corp

4.50%,

10/15/2028

(f)

218‌

191‌

$

91,085‌

Automobile

Parts

&

Equipment

-

1

.29

%

Adient

Global

Holdings

Ltd

4.88%,

08/15/2026

(f)

570‌

541‌

American

Axle

&

Manufacturing

Inc

5.00%,

10/01/2029

665‌

548‌

6.50%,

04/01/2027

670‌

618‌

Clarios

Global

LP

6.75%,

05/15/2025

(f)

365‌

367‌

Clarios

Global

LP

/

Clarios

US

Finance

Co

6.25%,

05/15/2026

(f)

11,209‌

11,135‌

8.50%,

05/15/2027

(f)

2,145‌

2,137‌

Dana

Financing

Luxembourg

Sarl

5.75%,

04/15/2025

(f)

305‌

302‌

Dana

Inc

4.25%,

09/01/2030

150‌

127‌

4.50%,

02/15/2032

965‌

814‌

5.38%,

11/15/2027

428‌

407‌

5.63%,

06/15/2028

325‌

306‌

Dealer

Tire

LLC

/

DT

Issuer

LLC

8.00%,

02/01/2028

(f)

794‌

731‌

Dornoch

Debt

Merger

Sub

Inc

6.63%,

10/15/2029

(f)

7,780‌

5,842‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

74

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Automobile

Parts

&

Equipment

(continued)

Goodyear

Tire

&

Rubber

Co/The

4.88%,

03/15/2027

(g)

$

670‌

$

627‌

5.00%,

05/31/2026

(g)

295‌

285‌

5.00%,

07/15/2029

(g)

610‌

537‌

5.25%,

04/30/2031

(g)

517‌

442‌

5.25%,

07/15/2031

640‌

541‌

7.00%,

03/15/2028

17‌

17‌

9.50%,

05/31/2025

623‌

643‌

IHO

Verwaltungs

GmbH

4.75%,

PIK

5.50%;

09/15/2026

(f),(h),(i)

925‌

846‌

6.00%,

PIK

6.75%;

05/15/2027

(f),(h),(i)

605‌

562‌

6.38%,

PIK

7.13%;

05/15/2029

(f),(h),(i)

1,180‌

1,033‌

Real

Hero

Merger

Sub

2

Inc

6.25%,

02/01/2029

(f)

7,882‌

5,852‌

Wheel

Pros

Inc

6.50%,

05/15/2029

(f)

7,681‌

3,071‌

ZF

North

America

Capital

Inc

4.75%,

04/29/2025

(f)

1,680‌

1,620‌

$

39,951‌

Banks

-

0

.41

%

Dresdner

Funding

Trust

I

8.15%,

06/30/2031

(f)

1,344‌

1,452‌

Freedom

Mortgage

Corp

6.63%,

01/15/2027

(f)

500‌

416‌

7.63%,

05/01/2026

(f)

570‌

501‌

8.13%,

11/15/2024

(f)

280‌

271‌

8.25%,

04/15/2025

(f)

430‌

409‌

Intesa

Sanpaolo

SpA

4.20%,

06/01/2032

(f),(j)

700‌

557‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.60%

4.95%,

06/01/2042

(f),(j)

1,050‌

760‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.75%

5.02%,

06/26/2024

(f)

1,735‌

1,693‌

5.71%,

01/15/2026

(f)

1,560‌

1,533‌

Synovus

Financial

Corp

5.90%,

02/07/2029

(j)

900‌

891‌

USD

Swap

Semi-Annual

5

Year

+

3.38%

Texas

Capital

Bancshares

Inc

4.00%,

05/06/2031

(j)

321‌

292‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.15%

UniCredit

SpA

5.46%,

06/30/2035

(f),(j)

1,645‌

1,439‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.75%

5.86%,

06/19/2032

(f),(j)

1,000‌

930‌

USD

Swap

Rate

NY

5

Year

+

3.70%

7.30%,

04/02/2034

(f),(j)

1,465‌

1,424‌

USD

Swap

Rate

NY

5

Year

+

4.91%

$

12,568‌

Beverages

-

0

.04

%

Primo

Water

Holdings

Inc

4.38%,

04/30/2029

(f)

249‌

217‌

Triton

Water

Holdings

Inc

6.25%,

04/01/2029

(f)

1,290‌

1,024‌

$

1,241‌

Biotechnology

-

0

.04

%

Emergent

BioSolutions

Inc

3.88%,

08/15/2028

(f)

1,175‌

511‌

Grifols

Escrow

Issuer

SA

4.75%,

10/15/2028

(f)

775‌

674‌

$

1,185‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Building

Materials

-

1

.33

%

Boise

Cascade

Co

4.88%,

07/01/2030

(f)

$

325‌

$

292‌

Builders

FirstSource

Inc

4.25%,

02/01/2032

(f)

1,445‌

1,243‌

5.00%,

03/01/2030

(f)

1,017‌

948‌

Camelot

Return

Merger

Sub

Inc

8.75%,

08/01/2028

(f)

1,015‌

954‌

Cornerstone

Building

Brands

Inc

6.13%,

01/15/2029

(f)

422‌

316‌

CP

Atlas

Buyer

Inc

7.00%,

12/01/2028

(f)

770‌

595‌

Eco

Material

Technologies

Inc

7.88%,

01/31/2027

(f)

11,400‌

10,965‌

Griffon

Corp

5.75%,

03/01/2028

670‌

634‌

James

Hardie

International

Finance

DAC

5.00%,

01/15/2028

(f)

555‌

527‌

JELD-WEN

Inc

4.63%,

12/15/2025

(f)

468‌

414‌

4.88%,

12/15/2027

(f)

949‌

775‌

Koppers

Inc

6.00%,

02/15/2025

(f)

1,099‌

1,083‌

Louisiana-Pacific

Corp

3.63%,

03/15/2029

(f)

195‌

169‌

Masonite

International

Corp

5.38%,

02/01/2028

(f)

932‌

872‌

MIWD

Holdco

II

LLC

/

MIWD

Finance

Corp

5.50%,

02/01/2030

(f)

960‌

798‌

New

Enterprise

Stone

&

Lime

Co

Inc

5.25%,

07/15/2028

(f)

869‌

800‌

9.75%,

07/15/2028

(f)

331‌

314‌

Oscar

AcquisitionCo

LLC

/

Oscar

Finance

Inc

9.50%,

04/15/2030

(f)

8,308‌

7,435‌

PGT

Innovations

Inc

4.38%,

10/01/2029

(f)

615‌

531‌

Smyrna

Ready

Mix

Concrete

LLC

6.00%,

11/01/2028

(f)

5,655‌

5,163‌

Standard

Industries

Inc/NJ

3.38%,

01/15/2031

(f)

1,235‌

981‌

4.38%,

07/15/2030

(f)

2,358‌

2,016‌

4.75%,

01/15/2028

(f)

1,385‌

1,298‌

5.00%,

02/15/2027

(f)

1,090‌

1,033‌

Summit

Materials

LLC

/

Summit

Materials

Finance

Corp

5.25%,

01/15/2029

(f)

565‌

531‌

6.50%,

03/15/2027

(f)

135‌

135‌

Victors

Merger

Corp

6.38%,

05/15/2029

(f)

679‌

414‌

$

41,236‌

Chemicals

-

1

.25

%

Ashland

LLC

3.38%,

09/01/2031

(f)

528‌

438‌

6.88%,

05/15/2043

308‌

307‌

ASP

Unifrax

Holdings

Inc

5.25%,

09/30/2028

(f)

3,689‌

3,161‌

Avient

Corp

5.75%,

05/15/2025

(f)

995‌

985‌

7.13%,

08/01/2030

(f)

671‌

676‌

Axalta

Coating

Systems

LLC

3.38%,

02/15/2029

(f)

960‌

826‌

Axalta

Coating

Systems

LLC

/

Axalta

Coating

Systems

Dutch

Holding

B

BV

4.75%,

06/15/2027

(f),(g)

825‌

780‌

Cerdia

Finanz

GmbH

10.50%,

02/15/2027

(f)

815‌

693‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

75

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Chemicals

(continued)

Chemours

Co/The

4.63%,

11/15/2029

(f)

$

1,028‌

$

859‌

5.38%,

05/15/2027

(g)

615‌

569‌

5.75%,

11/15/2028

(f)

848‌

773‌

Consolidated

Energy

Finance

SA

5.63%,

10/15/2028

(f)

425‌

370‌

Cornerstone

Chemical

Co

6.75%,

08/15/2024

(f),(g)

1,130‌

898‌

CVR

Partners

LP

/

CVR

Nitrogen

Finance

Corp

6.13%,

06/15/2028

(f)

500‌

452‌

Diamond

BC

BV

4.63%,

10/01/2029

(f)

4,133‌

3,476‌

Element

Solutions

Inc

3.88%,

09/01/2028

(f)

1,059‌

937‌

GPD

Cos

Inc

10.13%,

04/01/2026

(f)

845‌

757‌

HB

Fuller

Co

4.00%,

02/15/2027

750‌

694‌

4.25%,

10/15/2028

385‌

341‌

Herens

Holdco

Sarl

4.75%,

05/15/2028

(f)

373‌

304‌

Illuminate

Buyer

LLC

/

Illuminate

Holdings

IV

Inc

9.00%,

07/01/2028

(f)

960‌

858‌

INEOS

Quattro

Finance

2

Plc

3.38%,

01/15/2026

(f)

1,025‌

941‌

Ingevity

Corp

3.88%,

11/01/2028

(f)

877‌

769‌

Innophos

Holdings

Inc

9.38%,

02/15/2028

(f)

211‌

208‌

Iris

Holdings

Inc

8.75%,

PIK

9.50%;

02/15/2026

(f),(h),(i)

325‌

282‌

Mativ

Holdings

Inc

6.88%,

10/01/2026

(f)

125‌

116‌

Methanex

Corp

4.25%,

12/01/2024

275‌

265‌

5.13%,

10/15/2027

640‌

610‌

5.25%,

12/15/2029

1,122‌

1,032‌

5.65%,

12/01/2044

385‌

316‌

Minerals

Technologies

Inc

5.00%,

07/01/2028

(f)

487‌

445‌

Nufarm

Australia

Ltd

/

Nufarm

Americas

Inc

5.00%,

01/27/2030

(f)

300‌

272‌

Olin

Corp

5.00%,

02/01/2030

903‌

853‌

5.13%,

09/15/2027

957‌

928‌

5.63%,

08/01/2029

(g)

1,170‌

1,139‌

Olympus

Water

US

Holding

Corp

4.25%,

10/01/2028

(f)

800‌

671‌

6.25%,

10/01/2029

(f)

110‌

91‌

Polar

US

Borrower

LLC

/

Schenectady

International

Group

Inc

6.75%,

05/15/2026

(f)

325‌

146‌

Rain

CII

Carbon

LLC

/

CII

Carbon

Corp

7.25%,

04/01/2025

(f)

537‌

505‌

Rayonier

AM

Products

Inc

5.50%,

06/01/2024

(f),(g)

605‌

604‌

7.63%,

01/15/2026

(f)

451‌

422‌

SCIH

Salt

Holdings

Inc

4.88%,

05/01/2028

(f)

1,078‌

949‌

6.63%,

05/01/2029

(f)

760‌

650‌

SCIL

IV

LLC

/

SCIL

USA

Holdings

LLC

5.38%,

11/01/2026

(f)

865‌

793‌

SPCM

SA

3.13%,

03/15/2027

(f)

210‌

185‌

3.38%,

03/15/2030

(f)

1,195‌

1,012‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Chemicals

(continued)

Trinseo

Materials

Operating

SCA

/

Trinseo

Materials

Finance

Inc

5.13%,

04/01/2029

(f)

$

189‌

$

136‌

5.38%,

09/01/2025

(f)

263‌

230‌

Tronox

Inc

4.63%,

03/15/2029

(f)

840‌

718‌

Valvoline

Inc

3.63%,

06/15/2031

(f)

805‌

677‌

4.25%,

02/15/2030

(f)

520‌

511‌

Venator

Finance

Sarl

/

Venator

Materials

LLC

5.75%,

07/15/2025

(f)

280‌

99‌

Vibrantz

Technologies

Inc

9.00%,

02/15/2030

(f)

831‌

640‌

WR

Grace

Holdings

LLC

4.88%,

06/15/2027

(f)

635‌

589‌

5.63%,

10/01/2024

(f)

810‌

806‌

5.63%,

08/15/2029

(f)

994‌

828‌

$

38,592‌

Coal

-

0

.27

%

Alliance

Resource

Operating

Partners

LP

/

Alliance

Resource

Finance

Corp

7.50%,

05/01/2025

(f)

941‌

935‌

Coronado

Finance

Pty

Ltd

10.75%,

05/15/2026

(f)

103‌

106‌

SunCoke

Energy

Inc

4.88%,

06/30/2029

(f)

7,840‌

6,899‌

Warrior

Met

Coal

Inc

7.88%,

12/01/2028

(f)

540‌

532‌

$

8,472‌

Commercial

Services

-

3

.83

%

ADT

Security

Corp/The

4.13%,

08/01/2029

(f)

645‌

574‌

4.88%,

07/15/2032

(f)

750‌

669‌

Adtalem

Global

Education

Inc

5.50%,

03/01/2028

(f)

994‌

925‌

Albion

Financing

1

SARL

/

Aggreko

Holdings

Inc

6.13%,

10/15/2026

(f)

650‌

583‌

Albion

Financing

2SARL

8.75%,

04/15/2027

(f)

205‌

174‌

Allied

Universal

Holdco

LLC

/

Allied

Universal

Finance

Corp

6.00%,

06/01/2029

(f)

500‌

402‌

6.63%,

07/15/2026

(f)

1,635‌

1,574‌

9.75%,

07/15/2027

(f)

1,195‌

1,141‌

Allied

Universal

Holdco

LLC/Allied

Universal

Finance

Corp/Atlas

Luxco

4

Sarl

4.63%,

06/01/2028

(f)

800‌

690‌

4.63%,

06/01/2028

(f)

900‌

773‌

AMN

Healthcare

Inc

4.00%,

04/15/2029

(f)

300‌

260‌

4.63%,

10/01/2027

(f)

4,664‌

4,326‌

APi

Group

DE

Inc

4.13%,

07/15/2029

(f)

430‌

372‌

Aptim

Corp

7.75%,

06/15/2025

(f)

925‌

657‌

APX

Group

Inc

5.75%,

07/15/2029

(f)

417‌

361‌

6.75%,

02/15/2027

(f)

485‌

475‌

ASGN

Inc

4.63%,

05/15/2028

(f)

7,925‌

7,230‌

Avis

Budget

Car

Rental

LLC

/

Avis

Budget

Finance

Inc

5.75%,

07/15/2027

(f)

6‌

6‌

5.75%,

07/15/2027

(f)

620‌

583‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

76

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Services

(continued)

Block

Inc

2.75%,

06/01/2026

$

680‌

$

618‌

3.50%,

06/01/2031

(g)

1,085‌

906‌

Brink's

Co/The

4.63%,

10/15/2027

(f)

870‌

812‌

5.50%,

07/15/2025

(f)

345‌

340‌

Carriage

Services

Inc

4.25%,

05/15/2029

(f)

750‌

617‌

Cimpress

PLC

7.00%,

06/15/2026

(f)

666‌

462‌

CoreCivic

Inc

4.75%,

10/15/2027

1,000‌

874‌

8.25%,

04/15/2026

1,142‌

1,168‌

CoreLogic

Inc

4.50%,

05/01/2028

(f),(g)

593‌

471‌

CPI

CG

Inc

8.63%,

03/15/2026

(f)

926‌

914‌

Deluxe

Corp

8.00%,

06/01/2029

(f)

795‌

681‌

Garda

World

Security

Corp

4.63%,

02/15/2027

(f)

640‌

582‌

6.00%,

06/01/2029

(f)

434‌

362‌

7.75%,

02/15/2028

(f)

302‌

306‌

9.50%,

11/01/2027

(f)

657‌

649‌

Gartner

Inc

3.63%,

06/15/2029

(f)

835‌

750‌

3.75%,

10/01/2030

(f)

1,140‌

1,010‌

4.50%,

07/01/2028

(f)

860‌

817‌

GEO

Group

Inc/The

9.50%,

12/31/2028

(f)

300‌

290‌

10.50%,

06/30/2028

700‌

716‌

Graham

Holdings

Co

5.75%,

06/01/2026

(f)

890‌

879‌

Grand

Canyon

University

4.13%,

10/01/2024

500‌

475‌

5.13%,

10/01/2028

525‌

497‌

HealthEquity

Inc

4.50%,

10/01/2029

(f)

430‌

385‌

Herc

Holdings

Inc

5.50%,

07/15/2027

(f)

1,300‌

1,245‌

Hertz

Corp/The

4.63%,

12/01/2026

(f)

720‌

641‌

5.00%,

12/01/2029

(f)

300‌

245‌

Korn

Ferry

4.63%,

12/15/2027

(f)

438‌

412‌

Legends

Hospitality

Holding

Co

LLC

/

Legends

Hospitality

Co-Issuer

Inc

5.00%,

02/01/2026

(f)

220‌

203‌

Metis

Merger

Sub

LLC

6.50%,

05/15/2029

(f)

880‌

750‌

MoneyGram

International

Inc

5.38%,

08/01/2026

(f)

350‌

355‌

MPH

Acquisition

Holdings

LLC

5.50%,

09/01/2028

(f)

1,250‌

1,038‌

5.75%,

11/01/2028

(f),(g)

5,958‌

4,327‌

Neptune

Bidco

US

Inc

9.29%,

04/15/2029

(f)

2,000‌

1,944‌

NESCO

Holdings

II

Inc

5.50%,

04/15/2029

(f)

1,065‌

956‌

Prime

Security

Services

Borrower

LLC

/

Prime

Finance

Inc

3.38%,

08/31/2027

(f)

1,250‌

1,109‌

5.25%,

04/15/2024

(f)

985‌

975‌

5.75%,

04/15/2026

(f)

1,100‌

1,078‌

6.25%,

01/15/2028

(f)

1,715‌

1,627‌

PROG

Holdings

Inc

6.00%,

11/15/2029

(f)

12,735‌

10,793‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Services

(continued)

Rent-A-Center

Inc/TX

6.38%,

02/15/2029

(f),(g)

$

9,465‌

$

8,045‌

Sabre

GLBL

Inc

7.38%,

09/01/2025

(f)

861‌

845‌

9.25%,

04/15/2025

(f)

780‌

800‌

11.25%,

12/15/2027

(f)

300‌

318‌

Service

Corp

International/US

3.38%,

08/15/2030

1,035‌

870‌

4.00%,

05/15/2031

840‌

735‌

4.63%,

12/15/2027

500‌

475‌

5.13%,

06/01/2029

1,022‌

979‌

Shift4

Payments

LLC

/

Shift4

Payments

Finance

Sub

Inc

4.63%,

11/01/2026

(f)

5,055‌

4,787‌

Signal

Parent

Inc

6.13%,

04/01/2029

(f)

455‌

173‌

Sotheby's

7.38%,

10/15/2027

(f),(g)

17,315‌

16,631‌

Sotheby's/Bidfair

Holdings

Inc

5.88%,

06/01/2029

(f)

752‌

643‌

TriNet

Group

Inc

3.50%,

03/01/2029

(f)

926‌

778‌

United

Rentals

North

America

Inc

3.75%,

01/15/2032

676‌

585‌

3.88%,

11/15/2027

2,767‌

2,629‌

3.88%,

02/15/2031

1,505‌

1,325‌

4.00%,

07/15/2030

1,257‌

1,131‌

4.88%,

01/15/2028

2,064‌

1,999‌

5.25%,

01/15/2030

860‌

832‌

5.50%,

05/15/2027

843‌

838‌

Verscend

Escrow

Corp

9.75%,

08/15/2026

(f)

400‌

401‌

WASH

Multifamily

Acquisition

Inc

5.75%,

04/15/2026

(f)

648‌

598‌

Williams

Scotsman

International

Inc

4.63%,

08/15/2028

(f)

675‌

625‌

6.13%,

06/15/2025

(f)

427‌

429‌

WW

International

Inc

4.50%,

04/15/2029

(f)

1,255‌

669‌

ZipRecruiter

Inc

5.00%,

01/15/2030

(f)

6,080‌

5,290‌

$

118,484‌

Computers

-

0

.82

%

Ahead

DB

Holdings

LLC

6.63%,

05/01/2028

(f)

446‌

377‌

Booz

Allen

Hamilton

Inc

3.88%,

09/01/2028

(f)

980‌

887‌

4.00%,

07/01/2029

(f)

418‌

375‌

Conduent

Business

Services

LLC

/

Conduent

State

&

Local

Solutions

Inc

6.00%,

11/01/2029

(f)

300‌

265‌

Crowdstrike

Holdings

Inc

3.00%,

02/15/2029

814‌

698‌

Diebold

Nixdorf

Inc

9.38%,

07/15/2025

(f)

886‌

616‌

KBR

Inc

4.75%,

09/30/2028

(f)

4,557‌

4,115‌

McAfee

Corp

7.38%,

02/15/2030

(f)

2,200‌

1,827‌

NCR

Corp

5.00%,

10/01/2028

(f)

690‌

608‌

5.13%,

04/15/2029

(f)

1,030‌

897‌

5.25%,

10/01/2030

(f)

401‌

347‌

5.75%,

09/01/2027

(f)

588‌

570‌

6.13%,

09/01/2029

(f)

525‌

520‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

77

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Computers

(continued)

Presidio

Holdings

Inc

4.88%,

02/01/2027

(f)

$

440‌

$

409‌

8.25%,

02/01/2028

(f)

4,100‌

3,941‌

Science

Applications

International

Corp

4.88%,

04/01/2028

(f)

85‌

80‌

Seagate

HDD

Cayman

3.13%,

07/15/2029

585‌

468‌

3.38%,

07/15/2031

641‌

481‌

4.09%,

06/01/2029

1,087‌

963‌

4.13%,

01/15/2031

1,095‌

920‌

4.75%,

01/01/2025

735‌

719‌

4.88%,

03/01/2024

955‌

945‌

4.88%,

06/01/2027

930‌

902‌

5.75%,

12/01/2034

720‌

661‌

Tempo

Acquisition

LLC

/

Tempo

Acquisition

Finance

Corp

5.75%,

06/01/2025

(f)

295‌

298‌

Unisys

Corp

6.88%,

11/01/2027

(f)

940‌

712‌

Vericast

Corp

11.00%,

09/15/2026

(f)

1,395‌

1,512‌

Virtusa

Corp

7.13%,

12/15/2028

(f)

418‌

351‌

$

25,464‌

Consumer

Products

-

0

.12

%

ACCO

Brands

Corp

4.25%,

03/15/2029

(f)

565‌

489‌

Central

Garden

&

Pet

Co

4.13%,

04/30/2031

(f)

855‌

717‌

5.13%,

02/01/2028

617‌

588‌

Kronos

Acquisition

Holdings

Inc

/

KIK

Custom

Products

Inc

5.00%,

12/31/2026

(f)

530‌

481‌

7.00%,

12/31/2027

(f)

580‌

505‌

Spectrum

Brands

Inc

3.88%,

03/15/2031

(f)

400‌

322‌

5.00%,

10/01/2029

(f)

96‌

85‌

5.50%,

07/15/2030

(f)

353‌

321‌

5.75%,

07/15/2025

265‌

263‌

$

3,771‌

Cosmetics

&

Personal

Care

-

0

.11

%

Avon

Products

Inc

8.45%,

03/15/2043

240‌

236‌

Coty

Inc

5.00%,

04/15/2026

(f)

948‌

908‌

Coty

Inc/HFC

Prestige

Products

Inc/HFC

Prestige

International

US

LLC

4.75%,

01/15/2029

(f)

630‌

572‌

Edgewell

Personal

Care

Co

4.13%,

04/01/2029

(f)

370‌

322‌

5.50%,

06/01/2028

(f)

1,190‌

1,127‌

High

Ridge

Brands

-

Escrow

0.00%,

03/15/2025

(d),(e),(k)

4,938‌

55‌

Oriflame

Investment

Holding

PLC

5.13%,

05/04/2026

(f),(g)

300‌

190‌

$

3,410‌

Distribution

&

Wholesale

-

0

.19

%

American

Builders

&

Contractors

Supply

Co

Inc

3.88%,

11/15/2029

(f)

390‌

333‌

4.00%,

01/15/2028

(f)

999‌

910‌

BCPE

Empire

Holdings

Inc

7.63%,

05/01/2027

(f)

725‌

679‌

G-III

Apparel

Group

Ltd

7.88%,

08/15/2025

(f)

631‌

599‌

H&E

Equipment

Services

Inc

3.88%,

12/15/2028

(f)

950‌

836‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Distribution

&

Wholesale

(continued)

IAA

Inc

5.50%,

06/15/2027

(f)

$

405‌

$

407‌

KAR

Auction

Services

Inc

5.13%,

06/01/2025

(f)

375‌

369‌

Resideo

Funding

Inc

4.00%,

09/01/2029

(f)

285‌

236‌

Univar

Solutions

USA

Inc/Washington

5.13%,

12/01/2027

(f)

674‌

652‌

Wesco

Aircraft

Holdings

Inc

8.50%,

11/15/2024

(f),(g)

512‌

248‌

9.00%,

11/15/2026

(f),(g)

1,108‌

748‌

$

6,017‌

Diversified

Financial

Services

-

5

.31

%

Advisor

Group

Holdings

Inc

10.75%,

08/01/2027

(f)

227‌

234‌

AG

Issuer

LLC

6.25%,

03/01/2028

(f)

499‌

472‌

AG

TTMT

Escrow

Issuer

LLC

8.63%,

09/30/2027

(f)

514‌

530‌

Ally

Financial

Inc

5.75%,

11/20/2025

1,300‌

1,292‌

Aretec

Escrow

Issuer

Inc

7.50%,

04/01/2029

(f)

875‌

777‌

Armor

Holdco

Inc

8.50%,

11/15/2029

(f)

380‌

324‌

Avation

Capital

SA

8.25%,

PIK

9.00%;

10/31/2026

(f),(h),(i)

506‌

433‌

Bread

Financial

Holdings

Inc

4.75%,

12/15/2024

(f)

7,785‌

7,065‌

7.00%,

01/15/2026

(f),(g)

6,675‌

6,139‌

Brightsphere

Investment

Group

Inc

4.80%,

07/27/2026

585‌

540‌

Burford

Capital

Global

Finance

LLC

6.25%,

04/15/2028

(f)

455‌

407‌

6.88%,

04/15/2030

(f)

685‌

618‌

Castlelake

Aviation

Finance

DAC

5.00%,

04/15/2027

(f)

365‌

327‌

Cobra

AcquisitionCo

LLC

6.38%,

11/01/2029

(f)

450‌

274‌

Coinbase

Global

Inc

3.38%,

10/01/2028

(f)

1,090‌

703‌

3.63%,

10/01/2031

(f)

901‌

525‌

Credit

Acceptance

Corp

6.63%,

03/15/2026

(g)

3,934‌

3,600‌

Curo

Group

Holdings

Corp

7.50%,

08/01/2028

(f)

1,320‌

599‌

Enact

Holdings

Inc

6.50%,

08/15/2025

(f)

1,150‌

1,133‌

Enova

International

Inc

8.50%,

09/01/2024

(f)

635‌

617‌

8.50%,

09/15/2025

(f)

360‌

342‌

Finance

of

America

Funding

LLC

7.88%,

11/15/2025

(f)

215‌

132‌

Global

Aircraft

Leasing

Co

Ltd

6.50%,

PIK

7.25%;

09/15/2024

(f),(h),(i)

2,305‌

2,103‌

goeasy

Ltd

4.38%,

05/01/2026

(f)

300‌

268‌

5.38%,

12/01/2024

(f)

445‌

426‌

Hightower

Holding

LLC

6.75%,

04/15/2029

(f)

330‌

284‌

Home

Point

Capital

Inc

5.00%,

02/01/2026

(f)

3,582‌

2,580‌

Jane

Street

Group

/

JSG

Finance

Inc

4.50%,

11/15/2029

(f)

825‌

736‌

Jefferies

Finance

LLC

/

JFIN

Co-Issuer

Corp

5.00%,

08/15/2028

(f)

1,010‌

857‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

78

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Diversified

Financial

Services

(continued)

Jefferson

Capital

Holdings

LLC

6.00%,

08/15/2026

(f)

$

205‌

$

171‌

LD

Holdings

Group

LLC

6.13%,

04/01/2028

(f)

309‌

202‌

6.50%,

11/01/2025

(f)

545‌

418‌

LFS

Topco

LLC

5.88%,

10/15/2026

(f)

134‌

111‌

LPL

Holdings

Inc

4.00%,

03/15/2029

(f)

935‌

837‌

4.38%,

05/15/2031

(f)

700‌

613‌

4.63%,

11/15/2027

(f)

160‌

152‌

Midcap

Financial

Issuer

Trust

5.63%,

01/15/2030

(f)

406‌

328‌

6.50%,

05/01/2028

(f)

1,195‌

1,052‌

Nationstar

Mortgage

Holdings

Inc

5.13%,

12/15/2030

(f)

502‌

407‌

5.50%,

08/15/2028

(f)

4,915‌

4,294‌

5.75%,

11/15/2031

(f)

300‌

241‌

6.00%,

01/15/2027

(f)

1,290‌

1,197‌

Navient

Corp

4.88%,

03/15/2028

800‌

707‌

5.00%,

03/15/2027

575‌

525‌

5.50%,

03/15/2029

1,125‌

996‌

5.63%,

08/01/2033

572‌

443‌

5.88%,

10/25/2024

478‌

473‌

6.13%,

03/25/2024

710‌

708‌

6.75%,

06/25/2025

400‌

399‌

6.75%,

06/15/2026

410‌

404‌

NFP

Corp

4.88%,

08/15/2028

(f)

5,880‌

5,132‌

6.88%,

08/15/2028

(f)

39,966‌

34,556‌

7.50%,

10/01/2030

(f)

395‌

376‌

OneMain

Finance

Corp

3.50%,

01/15/2027

720‌

626‌

3.88%,

09/15/2028

665‌

559‌

4.00%,

09/15/2030

12,501‌

9,969‌

5.38%,

11/15/2029

835‌

731‌

6.13%,

03/15/2024

1,487‌

1,474‌

6.63%,

01/15/2028

11,690‌

11,389‌

6.88%,

03/15/2025

1,300‌

1,296‌

7.13%,

03/15/2026

1,474‌

1,464‌

Oxford

Finance

LLC

/

Oxford

Finance

Co-Issuer

II

Inc

6.38%,

02/01/2027

(f)

11,645‌

11,137‌

PennyMac

Financial

Services

Inc

4.25%,

02/15/2029

(f)

1,103‌

906‌

5.38%,

10/15/2025

(f)

823‌

765‌

5.75%,

09/15/2031

(f)

980‌

824‌

PHH

Mortgage

Corp

7.88%,

03/15/2026

(f)

755‌

689‌

PRA

Group

Inc

5.00%,

10/01/2029

(f)

400‌

343‌

7.38%,

09/01/2025

(f)

8‌

8‌

8.38%,

02/01/2028

(f),(l)

645‌

648‌

Provident

Funding

Associates

LP

/

PFG

Finance

Corp

6.38%,

06/15/2025

(f)

9,538‌

8,941‌

Rocket

Mortgage

LLC

/

Rocket

Mortgage

Co-

Issuer

Inc

2.88%,

10/15/2026

(f)

1,577‌

1,406‌

3.63%,

03/01/2029

(f)

366‌

309‌

3.88%,

03/01/2031

(f)

7,594‌

6,185‌

4.00%,

10/15/2033

(f)

2,910‌

2,308‌

SLM

Corp

4.20%,

10/29/2025

830‌

774‌

StoneX

Group

Inc

8.63%,

06/15/2025

(f)

70‌

70‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Diversified

Financial

Services

(continued)

United

Wholesale

Mortgage

LLC

5.50%,

11/15/2025

(f)

$

6,930‌

$

6,482‌

5.50%,

04/15/2029

(f)

1,000‌

860‌

5.75%,

06/15/2027

(f)

766‌

688‌

VistaJet

Malta

Finance

PLC

/

XO

Management

Holding

Inc

6.38%,

02/01/2030

(f)

3,885‌

3,426‌

7.88%,

05/01/2027

(f)

300‌

291‌

World

Acceptance

Corp

7.00%,

11/01/2026

(f)

500‌

386‌

$

164,033‌

Electric

-

1

.01

%

Algonquin

Power

&

Utilities

Corp

4.75%,

01/18/2082

(j)

810‌

685‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.25%

Atlantica

Sustainable

Infrastructure

PLC

4.13%,

06/15/2028

(f)

300‌

267‌

Calpine

Corp

3.75%,

03/01/2031

(f)

1,260‌

1,050‌

4.50%,

02/15/2028

(f)

1,565‌

1,444‌

4.63%,

02/01/2029

(f)

886‌

770‌

5.00%,

02/01/2031

(f)

927‌

794‌

5.13%,

03/15/2028

(f),(g)

1,500‌

1,358‌

5.25%,

06/01/2026

(f)

568‌

549‌

Clearway

Energy

Operating

LLC

3.75%,

02/15/2031

(f)

960‌

811‌

3.75%,

01/15/2032

(f)

375‌

309‌

4.75%,

03/15/2028

(f)

670‌

632‌

DPL

Inc

4.13%,

07/01/2025

465‌

443‌

4.35%,

04/15/2029

656‌

599‌

Drax

Finco

PLC

6.63%,

11/01/2025

(f)

480‌

468‌

FirstEnergy

Corp

2.05%,

03/01/2025

620‌

581‌

2.25%,

09/01/2030

765‌

628‌

2.65%,

03/01/2030

1,094‌

935‌

3.40%,

03/01/2050

1,225‌

870‌

4.15%,

07/15/2027

1,912‌

1,827‌

5.10%,

07/15/2047

560‌

517‌

Leeward

Renewable

Energy

Operations

LLC

4.25%,

07/01/2029

(f)

425‌

374‌

Midland

Cogeneration

Venture

LP

6.00%,

03/15/2025

(f)

173‌

176‌

NextEra

Energy

Operating

Partners

LP

3.88%,

10/15/2026

(f)

426‌

395‌

4.25%,

07/15/2024

(f)

660‌

645‌

4.50%,

09/15/2027

(f)

593‌

558‌

NRG

Energy

Inc

3.38%,

02/15/2029

(f)

555‌

459‌

3.63%,

02/15/2031

(f)

1,331‌

1,054‌

3.88%,

02/15/2032

(f)

1,619‌

1,260‌

5.25%,

06/15/2029

(f)

810‌

731‌

5.75%,

01/15/2028

915‌

877‌

6.63%,

01/15/2027

395‌

393‌

Pattern

Energy

Operations

LP

/

Pattern

Energy

Operations

Inc

4.50%,

08/15/2028

(f)

965‌

885‌

PG&E

Corp

5.00%,

07/01/2028

1,012‌

948‌

5.25%,

07/01/2030

1,095‌

1,007‌

Pike

Corp

5.50%,

09/01/2028

(f)

1,093‌

965‌

TransAlta

Corp

6.50%,

03/15/2040

725‌

695‌

7.75%,

11/15/2029

300‌

309‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

79

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electric

(continued)

Vistra

Operations

Co

LLC

4.38%,

05/01/2029

(f)

$

1,629‌

$

1,433‌

5.00%,

07/31/2027

(f)

1,225‌

1,153‌

5.63%,

02/15/2027

(f)

1,400‌

1,352‌

$

31,206‌

Electrical

Components

&

Equipment

-

0

.18

%

Energizer

Holdings

Inc

4.38%,

03/31/2029

(f)

415‌

360‌

4.75%,

06/15/2028

(f)

845‌

756‌

6.50%,

12/31/2027

(f)

780‌

761‌

EnerSys

4.38%,

12/15/2027

(f)

490‌

453‌

WESCO

Distribution

Inc

7.13%,

06/15/2025

(f)

1,716‌

1,744‌

7.25%,

06/15/2028

(f)

1,425‌

1,460‌

$

5,534‌

Electronics

-

0

.28

%

Atkore

Inc

4.25%,

06/01/2031

(f)

1,000‌

877‌

Coherent

Corp

5.00%,

12/15/2029

(f)

970‌

881‌

Imola

Merger

Corp

4.75%,

05/15/2029

(f)

2,670‌

2,323‌

Likewize

Corp

9.75%,

10/15/2025

(f)

404‌

380‌

Sensata

Technologies

BV

4.00%,

04/15/2029

(f)

1,000‌

898‌

5.00%,

10/01/2025

(f)

576‌

570‌

5.63%,

11/01/2024

(f)

440‌

440‌

5.88%,

09/01/2030

(f)

507‌

497‌

Sensata

Technologies

Inc

3.75%,

02/15/2031

(f)

705‌

598‌

4.38%,

02/15/2030

(f)

529‌

479‌

TTM

Technologies

Inc

4.00%,

03/01/2029

(f)

701‌

613‌

$

8,556‌

Energy

-

Alternate

Sources

-

0

.28

%

Enviva

Partners

LP

/

Enviva

Partners

Finance

Corp

6.50%,

01/15/2026

(f)

7,353‌

6,863‌

TerraForm

Power

Operating

LLC

4.75%,

01/15/2030

(f)

950‌

855‌

5.00%,

01/31/2028

(f)

1,120‌

1,052‌

$

8,770‌

Engineering

&

Construction

-

0

.40

%

AECOM

5.13%,

03/15/2027

1,345‌

1,322‌

Arcosa

Inc

4.38%,

04/15/2029

(f)

912‌

816‌

Artera

Services

LLC

9.03%,

12/04/2025

(f)

969‌

828‌

Brand

Industrial

Services

Inc

8.50%,

07/15/2025

(f)

1,565‌

1,279‌

Cellnex

Finance

Co

SA

3.88%,

07/07/2041

(f)

120‌

88‌

Dycom

Industries

Inc

4.50%,

04/15/2029

(f)

500‌

448‌

Fluor

Corp

3.50%,

12/15/2024

244‌

236‌

4.25%,

09/15/2028

(g)

505‌

471‌

Global

Infrastructure

Solutions

Inc

5.63%,

06/01/2029

(f)

400‌

328‌

7.50%,

04/15/2032

(f)

500‌

425‌

Great

Lakes

Dredge

&

Dock

Corp

5.25%,

06/01/2029

(f)

1,065‌

897‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Engineering

&

Construction

(continued)

IEA

Energy

Services

LLC

6.63%,

08/15/2029

(f)

$

3,710‌

$

3,652‌

INNOVATE

Corp

8.50%,

02/01/2026

(f)

315‌

237‌

TopBuild

Corp

3.63%,

03/15/2029

(f)

295‌

251‌

4.13%,

02/15/2032

(f)

460‌

390‌

Tutor

Perini

Corp

6.88%,

05/01/2025

(f)

431‌

384‌

Weekley

Homes

LLC

/

Weekley

Finance

Corp

4.88%,

09/15/2028

(f)

450‌

392‌

$

12,444‌

Entertainment

-

3

.46

%

Affinity

Gaming

6.88%,

12/15/2027

(f)

840‌

752‌

Allen

Media

LLC

/

Allen

Media

Co-Issuer

Inc

10.50%,

02/15/2028

(f)

750‌

303‌

AMC

Entertainment

Holdings

Inc

7.50%,

02/15/2029

(f)

868‌

504‌

10.00%,

PIK

12.00%;

06/15/2026

(f),(i)

1,740‌

868‌

Banijay

Entertainment

SASU

5.38%,

03/01/2025

(f)

390‌

376‌

Caesars

Entertainment

Inc

4.63%,

10/15/2029

(f)

10,580‌

9,046‌

6.25%,

07/01/2025

(f)

2,212‌

2,204‌

7.00%,

02/15/2030

(f),(l)

9,950‌

10,125‌

8.13%,

07/01/2027

(f)

7,690‌

7,805‌

Caesars

Resort

Collection

LLC

/

CRC

Finco

Inc

5.75%,

07/01/2025

(f)

1,240‌

1,240‌

CCM

Merger

Inc

6.38%,

05/01/2026

(f)

409‌

396‌

CDI

Escrow

Issuer

Inc

5.75%,

04/01/2030

(f)

1,836‌

1,740‌

Cedar

Fair

LP

5.25%,

07/15/2029

(g)

266‌

244‌

Cedar

Fair

LP

/

Canada's

Wonderland

Company

/

Magnum

Management

Corporation

/

Millennium

Operations

LLC

5.38%,

04/15/2027

396‌

383‌

5.50%,

05/01/2025

(f)

1,035‌

1,027‌

6.50%,

10/01/2028

275‌

267‌

Churchill

Downs

Inc

4.75%,

01/15/2028

(f)

1,035‌

968‌

5.50%,

04/01/2027

(f)

855‌

829‌

Cinemark

USA

Inc

5.25%,

07/15/2028

(f)

17,919‌

14,687‌

5.88%,

03/15/2026

(f),(g)

3,111‌

2,794‌

Empire

Resorts

Inc

7.75%,

11/01/2026

(f)

1,075‌

872‌

Everi

Holdings

Inc

5.00%,

07/15/2029

(f)

7,915‌

7,162‌

Golden

Entertainment

Inc

7.63%,

04/15/2026

(f)

50‌

50‌

International

Game

Technology

PLC

4.13%,

04/15/2026

(f)

280‌

265‌

5.25%,

01/15/2029

(f)

460‌

441‌

6.25%,

01/15/2027

(f)

220‌

220‌

6.50%,

02/15/2025

(f)

289‌

292‌

Jacobs

Entertainment

Inc

6.75%,

02/15/2029

(f)

770‌

716‌

Lions

Gate

Capital

Holdings

LLC

5.50%,

04/15/2029

(f)

1,235‌

803‌

Live

Nation

Entertainment

Inc

3.75%,

01/15/2028

(f)

475‌

423‌

4.75%,

10/15/2027

(f),(g)

12,892‌

11,925‌

4.88%,

11/01/2024

(f)

560‌

544‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

80

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Entertainment

(continued)

Live

Nation

Entertainment

Inc  

(continued)

5.63%,

03/15/2026

(f)

$

725‌

$

703‌

6.50%,

05/15/2027

(f)

6,622‌

6,658‌

Merlin

Entertainments

Ltd

5.75%,

06/15/2026

(f)

765‌

728‌

Midwest

Gaming

Borrower

LLC

/

Midwest

Gaming

Finance

Corp

4.88%,

05/01/2029

(f)

590‌

516‌

Mohegan

Tribal

Gaming

Authority

8.00%,

02/01/2026

(f)

1,620‌

1,539‌

Motion

Bondco

DAC

6.63%,

11/15/2027

(f)

888‌

804‌

Penn

Entertainment

Inc

4.13%,

07/01/2029

(f)

135‌

111‌

5.63%,

01/15/2027

(f)

325‌

306‌

Premier

Entertainment

Sub

LLC

/

Premier

Entertainment

Finance

Corp

5.63%,

09/01/2029

(f)

770‌

553‌

5.88%,

09/01/2031

(f)

680‌

475‌

Raptor

Acquisition

Corp

/

Raptor

Co-Issuer

LLC

4.88%,

11/01/2026

(f)

489‌

455‌

Resorts

World

Las

Vegas

LLC

/

RWLV

Capital

Inc

4.63%,

04/06/2031

(f)

900‌

696‌

Scientific

Games

International

Inc

7.00%,

05/15/2028

(f)

430‌

426‌

7.25%,

11/15/2029

(f)

265‌

266‌

8.63%,

07/01/2025

(f)

552‌

562‌

SeaWorld

Parks

&

Entertainment

Inc

5.25%,

08/15/2029

(f)

575‌

520‌

8.75%,

05/01/2025

(f)

283‌

290‌

Six

Flags

Entertainment

Corp

4.88%,

07/31/2024

(f)

556‌

544‌

5.50%,

04/15/2027

(f),(g)

375‌

353‌

Six

Flags

Theme

Parks

Inc

7.00%,

07/01/2025

(f)

200‌

202‌

Speedway

Motorsports

LLC

/

Speedway

Funding

II

Inc

4.88%,

11/01/2027

(f)

6,280‌

5,863‌

Universal

Entertainment

Corp

8.50%,

12/11/2024

(f)

850‌

797‌

Vail

Resorts

Inc

6.25%,

05/15/2025

(f)

485‌

487‌

WMG

Acquisition

Corp

3.00%,

02/15/2031

(f)

600‌

498‌

3.75%,

12/01/2029

(f)

770‌

674‌

3.88%,

07/15/2030

(f)

460‌

406‌

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp

5.13%,

10/01/2029

(f)

410‌

366‌

7.75%,

04/15/2025

(f)

902‌

906‌

$

106,975‌

Environmental

Control

-

1

.53

%

Clean

Harbors

Inc

4.88%,

07/15/2027

(f)

440‌

425‌

5.13%,

07/15/2029

(f)

300‌

288‌

6.38%,

02/01/2031

(f)

330‌

336‌

Covanta

Holding

Corp

4.88%,

12/01/2029

(f)

12,078‌

10,553‌

5.00%,

09/01/2030

996‌

848‌

GFL

Environmental

Inc

3.50%,

09/01/2028

(f)

660‌

589‌

3.75%,

08/01/2025

(f)

1,002‌

952‌

4.00%,

08/01/2028

(f)

7,755‌

6,885‌

4.25%,

06/01/2025

(f)

535‌

516‌

4.38%,

08/15/2029

(f)

11,225‌

9,954‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Environmental

Control

(continued)

GFL

Environmental

Inc  

(continued)

4.75%,

06/15/2029

(f)

$

8,443‌

$

7,620‌

5.13%,

12/15/2026

(f)

460‌

448‌

Harsco

Corp

5.75%,

07/31/2027

(f)

845‌

715‌

Madison

IAQ

LLC

4.13%,

06/30/2028

(f)

623‌

548‌

5.88%,

06/30/2029

(f)

5,820‌

4,616‌

Stericycle

Inc

3.88%,

01/15/2029

(f)

700‌

621‌

5.38%,

07/15/2024

(f)

879‌

871‌

Waste

Pro

USA

Inc

5.50%,

02/15/2026

(f)

551‌

512‌

$

47,297‌

Food

-

2

.44

%

Albertsons

Cos

Inc

/

Safeway

Inc

/

New

Albertsons

LP

/

Albertsons

LLC

3.25%,

03/15/2026

(f)

760‌

703‌

3.50%,

03/15/2029

(f)

4,646‌

4,007‌

4.63%,

01/15/2027

(f)

1,805‌

1,711‌

4.88%,

02/15/2030

(f)

4,235‌

3,895‌

5.88%,

02/15/2028

(f)

1,251‌

1,223‌

7.50%,

03/15/2026

(f)

1,120‌

1,149‌

B&G

Foods

Inc

5.25%,

04/01/2025

1,415‌

1,290‌

5.25%,

09/15/2027

886‌

717‌

Chobani

LLC

/

Chobani

Finance

Corp

Inc

4.63%,

11/15/2028

(f)

300‌

274‌

7.50%,

04/15/2025

(f)

595‌

584‌

FAGE

International

SA

/

FAGE

USA

Dairy

Industry

Inc

5.63%,

08/15/2026

(f)

375‌

352‌

H-Food

Holdings

LLC

/

Hearthside

Finance

Co

Inc

8.50%,

06/01/2026

(f)

404‌

275‌

Ingles

Markets

Inc

4.00%,

06/15/2031

(f)

250‌

215‌

KeHE

Distributors

LLC

/

KeHE

Finance

Corp

8.63%,

10/15/2026

(f)

624‌

624‌

Lamb

Weston

Holdings

Inc

4.13%,

01/31/2030

(f)

1,060‌

955‌

4.38%,

01/31/2032

(f)

867‌

776‌

4.88%,

05/15/2028

(f)

833‌

806‌

Performance

Food

Group

Inc

4.25%,

08/01/2029

(f)

10,145‌

9,052‌

5.50%,

10/15/2027

(f)

14,944‌

14,384‌

6.88%,

05/01/2025

(f)

315‌

317‌

Post

Holdings

Inc

4.50%,

09/15/2031

(f)

11,417‌

9,847‌

4.63%,

04/15/2030

(f)

7,850‌

6,908‌

5.50%,

12/15/2029

(f)

865‌

802‌

5.63%,

01/15/2028

(f)

1,499‌

1,443‌

5.75%,

03/01/2027

(f),(g)

496‌

489‌

Safeway

Inc

7.25%,

02/01/2031

200‌

203‌

SEG

Holding

LLC

/

SEG

Finance

Corp

5.63%,

10/15/2028

(f)

350‌

331‌

Sigma

Holdco

BV

7.88%,

05/15/2026

(f)

1,075‌

828‌

Simmons

Foods

Inc/Simmons

Prepared

Foods

Inc/Simmons

Pet

Food

Inc/Simmons

Feed

4.63%,

03/01/2029

(f)

860‌

729‌

TreeHouse

Foods

Inc

4.00%,

09/01/2028

720‌

600‌

United

Natural

Foods

Inc

6.75%,

10/15/2028

(f)

13‌

13‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

81

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Food

(continued)

US

Foods

Inc

4.63%,

06/01/2030

(f)

$

7,600‌

$

6,803‌

4.75%,

02/15/2029

(f)

2,655‌

2,429‌

6.25%,

04/15/2025

(f)

700‌

701‌

$

75,435‌

Food

Service

-

0

.61

%

Aramark

Services

Inc

5.00%,

04/01/2025

(f)

860‌

847‌

5.00%,

02/01/2028

(f)

14,285‌

13,464‌

6.38%,

05/01/2025

(f)

4,098‌

4,099‌

TKC

Holdings

Inc

10.50%,

05/15/2029

(f)

760‌

463‌

$

18,873‌

Forest

Products

&

Paper

-

0

.15

%

Ahlstrom-Munksjo

Holding

3

Oy

4.88%,

02/04/2028

(f)

1,130‌

967‌

Clearwater

Paper

Corp

4.75%,

08/15/2028

(f)

545‌

484‌

Domtar

Corp

6.75%,

10/01/2028

(f)

850‌

781‌

Glatfelter

Corp

4.75%,

11/15/2029

(f)

1,015‌

710‌

Mercer

International

Inc

5.13%,

02/01/2029

1,224‌

1,047‌

5.50%,

01/15/2026

(g)

303‌

293‌

Sylvamo

Corp

7.00%,

09/01/2029

(f)

278‌

266‌

$

4,548‌

Gas

-

0

.11

%

AmeriGas

Partners

LP

/

AmeriGas

Finance

Corp

5.50%,

05/20/2025

1,118‌

1,085‌

5.63%,

05/20/2024

936‌

922‌

5.75%,

05/20/2027

621‌

585‌

5.88%,

08/20/2026

723‌

699‌

$

3,291‌

Hand

&

Machine

Tools

-

0

.01

%

Werner

FinCo

LP

/

Werner

FinCo

Inc

8.75%,

07/15/2025

(f)

375‌

250‌

Healthcare

-

Products

-

0

.74

%

Avantor

Funding

Inc

3.88%,

11/01/2029

(f)

696‌

612‌

4.63%,

07/15/2028

(f)

1,645‌

1,551‌

Embecta

Corp

5.00%,

02/15/2030

(f)

830‌

684‌

Garden

Spinco

Corp

8.63%,

07/20/2030

(f)

8,387‌

8,974‌

Hologic

Inc

3.25%,

02/15/2029

(f)

1,014‌

892‌

4.63%,

02/01/2028

(f)

619‌

590‌

Medline

Borrower

LP

3.88%,

04/01/2029

(f)

4,790‌

4,096‌

5.25%,

10/01/2029

(f)

4,602‌

3,853‌

Teleflex

Inc

4.25%,

06/01/2028

(f)

500‌

461‌

4.63%,

11/15/2027

565‌

539‌

Varex

Imaging

Corp

7.88%,

10/15/2027

(f)

680‌

676‌

$

22,928‌

Healthcare

-

Services

-

3

.39

%

Acadia

Healthcare

Co

Inc

5.00%,

04/15/2029

(f)

9,009‌

8,424‌

5.50%,

07/01/2028

(f)

3,825‌

3,685‌

AHP

Health

Partners

Inc

5.75%,

07/15/2029

(f)

250‌

206‌

Air

Methods

Corp

8.00%,

05/15/2025

(f)

850‌

38‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Healthcare

-

Services

(continued)

Akumin

Escrow

Inc

7.50%,

08/01/2028

(f)

$

520‌

$

354‌

Akumin

Inc

7.00%,

11/01/2025

(f)

500‌

387‌

Cano

Health

LLC

6.25%,

10/01/2028

(f)

6,955‌

4,434‌

Catalent

Pharma

Solutions

Inc

3.13%,

02/15/2029

(f)

365‌

302‌

3.50%,

04/01/2030

(f),(g)

4,395‌

3,631‌

5.00%,

07/15/2027

(f)

330‌

312‌

Charles

River

Laboratories

International

Inc

3.75%,

03/15/2029

(f)

935‌

833‌

4.00%,

03/15/2031

(f)

445‌

393‌

4.25%,

05/01/2028

(f)

550‌

509‌

CHS/Community

Health

Systems

Inc

4.75%,

02/15/2031

(f)

740‌

566‌

5.25%,

05/15/2030

(f)

1,255‌

1,013‌

5.63%,

03/15/2027

(f)

1,650‌

1,461‌

6.00%,

01/15/2029

(f)

1,025‌

900‌

6.13%,

04/01/2030

(f)

1,291‌

776‌

6.88%,

04/15/2029

(f),(g)

2,155‌

1,363‌

8.00%,

03/15/2026

(f)

1,994‌

1,925‌

8.00%,

12/15/2027

(f),(g)

300‌

283‌

DaVita

Inc

3.75%,

02/15/2031

(f)

2,247‌

1,747‌

4.63%,

06/01/2030

(f)

4,065‌

3,425‌

Encompass

Health

Corp

4.50%,

02/01/2028

1,015‌

947‌

4.63%,

04/01/2031

900‌

792‌

4.75%,

02/01/2030

1,046‌

959‌

Envision

Healthcare

Corp

8.75%,

10/15/2026

(f)

754‌

203‌

Global

Medical

Response

Inc

6.50%,

10/01/2025

(f)

1,100‌

773‌

Hadrian

Merger

Sub

Inc

8.50%,

05/01/2026

(f)

215‌

179‌

IQVIA

Inc

5.00%,

10/15/2026

(f)

1,062‌

1,035‌

5.00%,

05/15/2027

(f)

1,500‌

1,456‌

Legacy

LifePoint

Health

LLC

4.38%,

02/15/2027

(f)

3,760‌

3,290‌

6.75%,

04/15/2025

(f)

500‌

487‌

LifePoint

Health

Inc

5.38%,

01/15/2029

(f)

480‌

321‌

ModivCare

Escrow

Issuer

Inc

5.00%,

10/01/2029

(f)

471‌

408‌

ModivCare

Inc

5.88%,

11/15/2025

(f)

600‌

580‌

Molina

Healthcare

Inc

3.88%,

11/15/2030

(f)

798‌

686‌

3.88%,

05/15/2032

(f)

1,000‌

838‌

4.38%,

06/15/2028

(f)

865‌

799‌

Prime

Healthcare

Services

Inc

7.25%,

11/01/2025

(f)

950‌

837‌

Radiology

Partners

Inc

9.25%,

02/01/2028

(f)

8,444‌

5,109‌

RegionalCare

Hospital

Partners

Holdings

Inc

/

LifePoint

Health

Inc

9.75%,

12/01/2026

(f)

1,620‌

1,420‌

RP

Escrow

Issuer

LLC

5.25%,

12/15/2025

(f)

9,425‌

7,691‌

Select

Medical

Corp

6.25%,

08/15/2026

(f)

1,175‌

1,148‌

Surgery

Center

Holdings

Inc

6.75%,

07/01/2025

(f)

2,088‌

2,074‌

10.00%,

04/15/2027

(f)

2,996‌

3,056‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

82

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Healthcare

-

Services

(continued)

Syneos

Health

Inc

3.63%,

01/15/2029

(f)

$

1,042‌

$

843‌

Team

Health

Holdings

Inc

6.38%,

02/01/2025

(f)

959‌

632‌

Tenet

Healthcare

Corp

4.25%,

06/01/2029

1,095‌

975‌

4.38%,

01/15/2030

1,205‌

1,071‌

4.63%,

07/15/2024

849‌

837‌

4.63%,

09/01/2024

470‌

462‌

4.63%,

06/15/2028

2,465‌

2,286‌

4.88%,

01/01/2026

1,500‌

1,461‌

5.13%,

11/01/2027

1,767‌

1,700‌

6.13%,

10/01/2028

17,100‌

15,989‌

6.13%,

06/15/2030

(f)

2,499‌

2,426‌

6.25%,

02/01/2027

(f)

1,154‌

1,128‌

6.88%,

11/15/2031

145‌

134‌

Toledo

Hospital/The

5.33%,

11/15/2028

1,180‌

963‌

6.02%,

11/15/2048

1,505‌

1,001‌

US

Acute

Care

Solutions

LLC

6.38%,

03/01/2026

(f)

670‌

606‌

US

Renal

Care

Inc

10.63%,

07/15/2027

(f)

839‌

273‌

$

104,842‌

Holding

Companies

-

Diversified

-

0

.05

%

Stena

AB

7.00%,

02/01/2024

(f)

370‌

368‌

Stena

International

SA

5.75%,

03/01/2024

(f)

325‌

322‌

6.13%,

02/01/2025

(f)

805‌

761‌

$

1,451‌

Home

Builders

-

0

.46

%

Ashton

Woods

USA

LLC

/

Ashton

Woods

Finance

Co

4.63%,

08/01/2029

(f)

165‌

138‌

4.63%,

04/01/2030

(f)

255‌

212‌

6.63%,

01/15/2028

(f)

900‌

821‌

Beazer

Homes

USA

Inc

5.88%,

10/15/2027

245‌

219‌

6.75%,

03/15/2025

151‌

148‌

7.25%,

10/15/2029

163‌

151‌

Brookfield

Residential

Properties

Inc

/

Brookfield

Residential

US

LLC

4.88%,

02/15/2030

(f)

205‌

159‌

6.25%,

09/15/2027

(f)

424‌

377‌

Century

Communities

Inc

3.88%,

08/15/2029

(f)

825‌

693‌

6.75%,

06/01/2027

879‌

867‌

Empire

Communities

Corp

7.00%,

12/15/2025

(f)

235‌

213‌

Installed

Building

Products

Inc

5.75%,

02/01/2028

(f)

140‌

129‌

KB

Home

4.00%,

06/15/2031

475‌

396‌

4.80%,

11/15/2029

324‌

291‌

6.88%,

06/15/2027

310‌

316‌

7.25%,

07/15/2030

510‌

509‌

LGI

Homes

Inc

4.00%,

07/15/2029

(f)

931‌

754‌

M/I

Homes

Inc

3.95%,

02/15/2030

435‌

366‌

4.95%,

02/01/2028

561‌

517‌

Mattamy

Group

Corp

4.63%,

03/01/2030

(f)

563‌

475‌

5.25%,

12/15/2027

(f)

650‌

595‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Home

Builders

(continued)

Meritage

Homes

Corp

3.88%,

04/15/2029

(f)

$

1,012‌

$

897‌

6.00%,

06/01/2025

408‌

410‌

Shea

Homes

LP

/

Shea

Homes

Funding

Corp

4.75%,

02/15/2028

518‌

462‌

4.75%,

04/01/2029

270‌

233‌

Taylor

Morrison

Communities

Inc

5.13%,

08/01/2030

(f)

350‌

320‌

5.75%,

01/15/2028

(f)

355‌

344‌

5.88%,

06/15/2027

(f)

210‌

206‌

Taylor

Morrison

Communities

Inc

/

Taylor

Morrison

Holdings

II

Inc

5.63%,

03/01/2024

(f)

670‌

667‌

Thor

Industries

Inc

4.00%,

10/15/2029

(f)

500‌

416‌

TRI

Pointe

Group

Inc

/

TRI

Pointe

Homes

Inc

5.88%,

06/15/2024

376‌

375‌

Tri

Pointe

Homes

Inc

5.25%,

06/01/2027

795‌

748‌

5.70%,

06/15/2028

523‌

491‌

Winnebago

Industries

Inc

6.25%,

07/15/2028

(f)

249‌

239‌

$

14,154‌

Home

Furnishings

-

0

.07

%

Tempur

Sealy

International

Inc

3.88%,

10/15/2031

(f)

1,475‌

1,215‌

4.00%,

04/15/2029

(f)

1,081‌

944‌

$

2,159‌

Housewares

-

0

.40

%

CD&R

Smokey

Buyer

Inc

6.75%,

07/15/2025

(f)

4,203‌

3,814‌

Newell

Brands

Inc

4.00%,

12/01/2024

200‌

195‌

4.45%,

04/01/2026

2,026‌

1,925‌

4.88%,

06/01/2025

565‌

552‌

5.63%,

04/01/2036

2,985‌

2,659‌

5.75%,

04/01/2046

644‌

535‌

6.38%,

09/15/2027

(g)

786‌

790‌

Scotts

Miracle-Gro

Co/The

4.00%,

04/01/2031

592‌

480‌

4.50%,

10/15/2029

(g)

994‌

857‌

5.25%,

12/15/2026

(g)

187‌

184‌

SWF

Escrow

Issuer

Corp

6.50%,

10/01/2029

(f),(g)

600‌

394‌

$

12,385‌

Insurance

-

2

.98

%

Acrisure

LLC

/

Acrisure

Finance

Inc

4.25%,

02/15/2029

(f)

3,260‌

2,706‌

6.00%,

08/01/2029

(f)

540‌

445‌

7.00%,

11/15/2025

(f)

24,436‌

23,248‌

10.13%,

08/01/2026

(f)

497‌

497‌

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co-Issuer

4.25%,

10/15/2027

(f)

12,742‌

11,677‌

5.88%,

11/01/2029

(f)

485‌

423‌

6.75%,

10/15/2027

(f)

1,392‌

1,302‌

AmWINS

Group

Inc

4.88%,

06/30/2029

(f)

16,198‌

14,208‌

Assurant

Inc

7.00%,

03/27/2048

(j)

415‌

411‌

3

Month

USD

LIBOR

+

4.14%

AssuredPartners

Inc

5.63%,

01/15/2029

(f)

8,013‌

6,854‌

7.00%,

08/15/2025

(f)

15,004‌

14,755‌

BroadStreet

Partners

Inc

5.88%,

04/15/2029

(f)

790‌

698‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

83

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Insurance

(continued)

Enstar

Finance

LLC

5.50%,

01/15/2042

(j)

$

368‌

$

304‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.01%

Genworth

Holdings

Inc

6.50%,

06/15/2034

755‌

677‌

GTCR

AP

Finance

Inc

8.00%,

05/15/2027

(f)

5,694‌

5,591‌

HUB

International

Ltd

5.63%,

12/01/2029

(f)

623‌

558‌

7.00%,

05/01/2026

(f)

3,082‌

3,052‌

Liberty

Mutual

Group

Inc

4.13%,

12/15/2051

(f),(j)

500‌

427‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.32%

4.30%,

02/01/2061

(f)

779‌

508‌

7.80%,

03/07/2087

(f)

505‌

562‌

3

Month

USD

LIBOR

+

3.58%

MGIC

Investment

Corp

5.25%,

08/15/2028

800‌

754‌

Ohio

National

Financial

Services

Inc

5.80%,

01/24/2030

(f)

410‌

390‌

Ryan

Specialty

Group

LLC

4.38%,

02/01/2030

(f)

280‌

252‌

Sagicor

Financial

Co

Ltd

5.30%,

05/13/2028

(f)

520‌

505‌

USI

Inc/NY

6.88%,

05/01/2025

(f)

1,016‌

1,011‌

Wilton

RE

Ltd

6.00%,

10/22/2030

(f),(j),(m)

435‌

387‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.27%

$

92,202‌

Internet

-

1

.88

%

ANGI

Group

LLC

3.88%,

08/15/2028

(f),(g)

639‌

490‌

Arches

Buyer

Inc

4.25%,

06/01/2028

(f)

800‌

672‌

6.13%,

12/01/2028

(f)

6,296‌

5,303‌

Cablevision

Lightpath

LLC

3.88%,

09/15/2027

(f)

6,479‌

5,507‌

5.63%,

09/15/2028

(f)

6,831‌

5,243‌

Cars.com

Inc

6.38%,

11/01/2028

(f)

990‌

918‌

Cogent

Communications

Group

Inc

3.50%,

05/01/2026

(f)

229‌

212‌

7.00%,

06/15/2027

(f)

515‌

510‌

Endurance

International

Group

Holdings

Inc

6.00%,

02/15/2029

(f)

1,215‌

863‌

Gen

Digital

Inc

5.00%,

04/15/2025

(f)

1,505‌

1,475‌

6.75%,

09/30/2027

(f)

295‌

299‌

7.13%,

09/30/2030

(f)

5,490‌

5,575‌

Getty

Images

Inc

9.75%,

03/01/2027

(f)

268‌

265‌

Go

Daddy

Operating

Co

LLC

/

GD

Finance

Co

Inc

3.50%,

03/01/2029

(f)

665‌

575‌

5.25%,

12/01/2027

(f)

995‌

963‌

GrubHub

Holdings

Inc

5.50%,

07/01/2027

(f)

296‌

237‌

Match

Group

Holdings

II

LLC

3.63%,

10/01/2031

(f)

415‌

333‌

4.13%,

08/01/2030

(f)

500‌

430‌

4.63%,

06/01/2028

(f)

505‌

464‌

5.63%,

02/15/2029

(f)

629‌

591‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Internet

(continued)

Millennium

Escrow

Corp

6.63%,

08/01/2026

(f)

$

500‌

$

348‌

Netflix

Inc

3.63%,

06/15/2025

(f)

592‌

570‌

4.38%,

11/15/2026

901‌

894‌

4.88%,

04/15/2028

1,696‌

1,690‌

4.88%,

06/15/2030

(f)

935‌

923‌

5.38%,

11/15/2029

(f)

829‌

841‌

5.75%,

03/01/2024

425‌

427‌

5.88%,

02/15/2025

725‌

736‌

5.88%,

11/15/2028

2,142‌

2,222‌

6.38%,

05/15/2029

900‌

964‌

Northwest

Fiber

LLC

/

Northwest

Fiber

Finance

Sub

Inc

4.75%,

04/30/2027

(f)

300‌

272‌

6.00%,

02/15/2028

(f),(g)

330‌

272‌

10.75%,

06/01/2028

(f)

240‌

224‌

Photo

Holdings

Merger

Sub

Inc

8.50%,

10/01/2026

(f)

885‌

443‌

Rakuten

Group

Inc

5.13%,

04/22/2026

(f),(j),(m)

580‌

502‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.58%

6.25%,

04/22/2031

(f),(j),(m)

970‌

794‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.96%

10.25%,

11/30/2024

(f)

2,484‌

2,515‌

TripAdvisor

Inc

7.00%,

07/15/2025

(f)

925‌

929‌

Uber

Technologies

Inc

4.50%,

08/15/2029

(f)

8,994‌

8,007‌

6.25%,

01/15/2028

(f),(g)

200‌

196‌

7.50%,

05/15/2025

(f)

752‌

763‌

7.50%,

09/15/2027

(f)

702‌

713‌

8.00%,

11/01/2026

(f)

1,354‌

1,386‌

Ziff

Davis

Inc

4.63%,

10/15/2030

(f)

585‌

518‌

$

58,074‌

Investment

Companies

-

0

.21

%

Compass

Group

Diversified

Holdings

LLC

5.00%,

01/15/2032

(f)

145‌

119‌

5.25%,

04/15/2029

(f)

1,035‌

931‌

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp

4.38%,

02/01/2029

1,195‌

1,041‌

4.75%,

09/15/2024

1,295‌

1,264‌

5.25%,

05/15/2027

1,584‌

1,475‌

6.25%,

05/15/2026

1,000‌

986‌

6.38%,

12/15/2025

830‌

823‌

$

6,639‌

Iron

&

Steel

-

1

.21

%

ATI

Inc

4.88%,

10/01/2029

373‌

341‌

5.13%,

10/01/2031

268‌

244‌

5.88%,

12/01/2027

735‌

709‌

Baffinland

Iron

Mines

Corp

/

Baffinland

Iron

Mines

LP

8.75%,

07/15/2026

(f)

16,402‌

15,928‌

Big

River

Steel

LLC

/

BRS

Finance

Corp

6.63%,

01/31/2029

(f)

4,951‌

4,855‌

Carpenter

Technology

Corp

6.38%,

07/15/2028

369‌

363‌

Cleveland-Cliffs

Inc

4.63%,

03/01/2029

(f)

435‌

406‌

4.88%,

03/01/2031

(f),(g)

405‌

378‌

5.88%,

06/01/2027

(g)

566‌

557‌

6.25%,

10/01/2040

223‌

201‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

84

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Iron

&

Steel

(continued)

Cleveland-Cliffs

Inc  

(continued)

6.75%,

03/15/2026

(f)

$

909‌

$

924‌

Commercial

Metals

Co

4.13%,

01/15/2030

465‌

416‌

4.38%,

03/15/2032

425‌

373‌

Infrabuild

Australia

Pty

Ltd

12.00%,

10/01/2024

(f)

295‌

281‌

Mineral

Resources

Ltd

8.00%,

11/01/2027

(f)

500‌

512‌

8.13%,

05/01/2027

(f)

1,075‌

1,083‌

8.50%,

05/01/2030

(f)

300‌

310‌

Specialty

Steel

15.14%,

11/15/2026

(e),(k)

8,680‌

8,680‌

TMS

International

Corp/DE

6.25%,

04/15/2029

(f)

608‌

457‌

United

States

Steel

Corp

6.88%,

03/01/2029

(g)

460‌

465‌

$

37,483‌

Leisure

Products

&

Services

-

1

.06

%

Carnival

Corp

4.00%,

08/01/2028

(f)

1,455‌

1,257‌

5.75%,

03/01/2027

(f)

13,200‌

10,957‌

6.00%,

05/01/2029

(f)

2,184‌

1,725‌

6.65%,

01/15/2028

320‌

246‌

7.63%,

03/01/2026

(f)

3,390‌

3,085‌

9.88%,

08/01/2027

(f)

511‌

525‌

10.50%,

02/01/2026

(f)

435‌

455‌

10.50%,

06/01/2030

(f),(g)

835‌

804‌

Carnival

Holdings

Bermuda

Ltd

10.38%,

05/01/2028

(f)

1,231‌

1,329‌

Constellation

Merger

Sub

Inc

8.50%,

09/15/2025

(f)

680‌

589‌

Life

Time

Inc

5.75%,

01/15/2026

(f)

445‌

428‌

8.00%,

04/15/2026

(f)

465‌

452‌

Lindblad

Expeditions

LLC

6.75%,

02/15/2027

(f)

200‌

196‌

MajorDrive

Holdings

IV

LLC

6.38%,

06/01/2029

(f)

590‌

466‌

NCL

Corp

Ltd

3.63%,

12/15/2024

(f)

505‌

474‌

5.88%,

03/15/2026

(f)

1,485‌

1,284‌

5.88%,

02/15/2027

(f)

310‌

288‌

7.75%,

02/15/2029

(f)

143‌

123‌

NCL

Finance

Ltd

6.13%,

03/15/2028

(f)

545‌

443‌

Royal

Caribbean

Cruises

Ltd

3.70%,

03/15/2028

310‌

244‌

4.25%,

07/01/2026

(f)

420‌

364‌

5.38%,

07/15/2027

(f)

900‌

783‌

5.50%,

08/31/2026

(f)

750‌

671‌

5.50%,

04/01/2028

(f)

960‌

826‌

7.50%,

10/15/2027

150‌

139‌

11.50%,

06/01/2025

(f)

896‌

962‌

Viking

Cruises

Ltd

5.88%,

09/15/2027

(f)

1,200‌

1,022‌

6.25%,

05/15/2025

(f)

628‌

572‌

7.00%,

02/15/2029

(f),(g)

565‌

492‌

13.00%,

05/15/2025

(f)

134‌

142‌

Viking

Ocean

Cruises

Ship

VII

Ltd

5.63%,

02/15/2029

(f)

120‌

103‌

Vista

Outdoor

Inc

4.50%,

03/15/2029

(f)

1,195‌

968‌

VOC

Escrow

Ltd

5.00%,

02/15/2028

(f)

545‌

479‌

$

32,893‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Lodging

-

2

.95

%

Boyd

Gaming

Corp

4.75%,

12/01/2027

(g)

$

970‌

$

922‌

4.75%,

06/15/2031

(f),(g)

9,719‌

8,745‌

Genting

New

York

LLC

/

GENNY

Capital

Inc

3.30%,

02/15/2026

(f)

895‌

801‌

Hilton

Domestic

Operating

Co

Inc

3.63%,

02/15/2032

(f)

6,360‌

5,341‌

3.75%,

05/01/2029

(f)

1,050‌

932‌

4.00%,

05/01/2031

(f)

1,555‌

1,347‌

4.88%,

01/15/2030

1,220‌

1,150‌

5.38%,

05/01/2025

(f)

690‌

685‌

5.75%,

05/01/2028

(f)

912‌

905‌

Hilton

Grand

Vacations

Borrower

Escrow

LLC

/

Hilton

Grand

Vacations

Borrower

Esc

4.88%,

07/01/2031

(f)

582‌

505‌

Hilton

Grand

Vacations

Borrower

Escrow

LLC

/

Hilton

Grand

Vacations

Borrower

Escrow

Inc

5.00%,

06/01/2029

(f)

491‌

439‌

Hilton

Worldwide

Finance

LLC

/

Hilton

Worldwide

Finance

Corp

4.88%,

04/01/2027

615‌

595‌

Las

Vegas

Sands

Corp

2.90%,

06/25/2025

1,874‌

1,755‌

3.20%,

08/08/2024

5,349‌

5,148‌

3.50%,

08/18/2026

3,408‌

3,175‌

3.90%,

08/08/2029

2,384‌

2,136‌

Marriott

Ownership

Resorts

Inc

4.50%,

06/15/2029

(f)

200‌

174‌

4.75%,

01/15/2028

275‌

248‌

Melco

Resorts

Finance

Ltd

5.38%,

12/04/2029

(f)

1,340‌

1,147‌

5.75%,

07/21/2028

(f)

1,205‌

1,080‌

MGM

China

Holdings

Ltd

4.75%,

02/01/2027

(f)

635‌

571‌

5.25%,

06/18/2025

(f)

620‌

589‌

5.38%,

05/15/2024

(f)

730‌

709‌

5.88%,

05/15/2026

(f),(g)

900‌

852‌

MGM

Resorts

International

4.63%,

09/01/2026

791‌

745‌

4.75%,

10/15/2028

925‌

839‌

5.50%,

04/15/2027

843‌

813‌

5.75%,

06/15/2025

700‌

691‌

6.75%,

05/01/2025

800‌

806‌

Sands

China

Ltd

2.80%,

03/08/2027

1,093‌

955‌

3.35%,

03/08/2029

428‌

366‌

3.75%,

08/08/2031

300‌

251‌

4.30%,

01/08/2026

2,706‌

2,567‌

4.88%,

06/18/2030

2,266‌

2,064‌

5.63%,

08/08/2025

6,165‌

6,129‌

5.90%,

08/08/2028

6,032‌

5,926‌

Station

Casinos

LLC

4.50%,

02/15/2028

(f)

415‌

374‌

4.63%,

12/01/2031

(f)

19,495‌

16,432‌

Studio

City

Finance

Ltd

5.00%,

01/15/2029

(f)

1,120‌

910‌

6.00%,

07/15/2025

(f)

395‌

372‌

6.50%,

01/15/2028

(f)

1,079‌

975‌

Travel

+

Leisure

Co

4.50%,

12/01/2029

(f)

1,035‌

890‌

4.63%,

03/01/2030

(f)

337‌

287‌

5.65%,

04/01/2024

266‌

265‌

6.00%,

04/01/2027

739‌

725‌

6.63%,

07/31/2026

(f)

921‌

914‌

Wyndham

Hotels

&

Resorts

Inc

4.38%,

08/15/2028

(f)

545‌

503‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

85

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Lodging

(continued)

Wynn

Las

Vegas

LLC

/

Wynn

Las

Vegas

Capital

Corp

5.25%,

05/15/2027

(f),(g)

$

929‌

$

878‌

5.50%,

03/01/2025

(f)

1,865‌

1,812‌

Wynn

Macau

Ltd

4.88%,

10/01/2024

(f),(g)

320‌

308‌

5.13%,

12/15/2029

(f)

1,145‌

955‌

5.50%,

01/15/2026

(f)

1,050‌

979‌

5.50%,

10/01/2027

(f)

445‌

398‌

5.63%,

08/26/2028

(f)

1,345‌

1,185‌

$

91,265‌

Machinery

-

Construction

&

Mining

-

0

.09

%

BWX

Technologies

Inc

4.13%,

06/30/2028

(f)

657‌

593‌

4.13%,

04/15/2029

(f)

410‌

367‌

Manitowoc

Co

Inc/The

9.00%,

04/01/2026

(f),(g)

225‌

221‌

Terex

Corp

5.00%,

05/15/2029

(f)

756‌

706‌

Vertiv

Group

Corp

4.13%,

11/15/2028

(f)

800‌

694‌

Weir

Group

PLC/The

2.20%,

05/13/2026

(f)

140‌

125‌

$

2,706‌

Machinery

-

Diversified

-

0

.78

%

ATS

Corp

4.13%,

12/15/2028

(f)

346‌

310‌

Chart

Industries

Inc

7.50%,

01/01/2030

(f)

1,300‌

1,329‌

9.50%,

01/01/2031

(f)

930‌

971‌

GrafTech

Finance

Inc

4.63%,

12/15/2028

(f)

498‌

425‌

Husky

III

Holding

Ltd

13.00%,

PIK

13.75%;

02/15/2025

(f),(h),(i)

573‌

531‌

JPW

Industries

Holding

Corp

9.00%,

10/01/2024

(f)

3,765‌

3,360‌

Maxim

Crane

Works

Holdings

Capital

LLC

10.13%,

08/01/2024

(f)

314‌

302‌

Mueller

Water

Products

Inc

4.00%,

06/15/2029

(f)

340‌

302‌

SPX

FLOW

Inc

8.75%,

04/01/2030

(f)

540‌

444‌

Stevens

Holding

Co

Inc

6.13%,

10/01/2026

(f)

711‌

722‌

Titan

Acquisition

Ltd

/

Titan

Co-Borrower

LLC

7.75%,

04/15/2026

(f)

13,519‌

12,787‌

TK

Elevator

Holdco

GmbH

7.63%,

07/15/2028

(f)

795‌

707‌

TK

Elevator

US

Newco

Inc

5.25%,

07/15/2027

(f)

1,985‌

1,837‌

$

24,027‌

Media

-

5

.54

%

Altice

Financing

SA

5.00%,

01/15/2028

(f)

1,616‌

1,374‌

5.75%,

08/15/2029

(f)

2,255‌

1,894‌

AMC

Networks

Inc

4.25%,

02/15/2029

670‌

413‌

4.75%,

08/01/2025

720‌

616‌

5.00%,

04/01/2024

275‌

264‌

Audacy

Capital

Corp

6.50%,

05/01/2027

(f)

277‌

46‌

6.75%,

03/31/2029

(f)

365‌

62‌

Belo

Corp

7.25%,

09/15/2027

170‌

162‌

Cable

One

Inc

4.00%,

11/15/2030

(f),(g)

490‌

404‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

(continued)

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

4.25%,

02/01/2031

(f)

$

9,990‌

$

8,322‌

4.25%,

01/15/2034

(f)

5,920‌

4,615‌

4.50%,

08/15/2030

(f)

3,065‌

2,619‌

4.50%,

05/01/2032

5,087‌

4,210‌

4.50%,

06/01/2033

(f)

2,122‌

1,724‌

4.75%,

03/01/2030

(f)

6,845‌

5,981‌

4.75%,

02/01/2032

(f)

1,000‌

850‌

5.00%,

02/01/2028

(f)

3,750‌

3,501‌

5.13%,

05/01/2027

(f)

3,434‌

3,273‌

5.38%,

06/01/2029

(f)

4,777‌

4,419‌

5.50%,

05/01/2026

(f)

1,080‌

1,061‌

6.38%,

09/01/2029

(f)

1,042‌

1,006‌

CSC

Holdings

LLC

3.38%,

02/15/2031

(f)

400‌

279‌

4.13%,

12/01/2030

(f)

2,690‌

1,989‌

4.50%,

11/15/2031

(f)

1,110‌

818‌

4.63%,

12/01/2030

(f)

12,090‌

7,149‌

5.25%,

06/01/2024

2,489‌

2,436‌

5.38%,

02/01/2028

(f)

745‌

629‌

5.50%,

04/15/2027

(f)

825‌

727‌

5.75%,

01/15/2030

(f)

2,567‌

1,617‌

6.50%,

02/01/2029

(f)

1,248‌

1,080‌

7.50%,

04/01/2028

(f)

3,600‌

2,633‌

Cumulus

Media

New

Holdings

Inc

6.75%,

07/01/2026

(f)

516‌

431‌

Diamond

Sports

Group

LLC

/

Diamond

Sports

Finance

Co

5.38%,

08/15/2026

(f)

175‌

13‌

Directv

Financing

LLC

/

Directv

Financing

Co-

Obligor

Inc

5.88%,

08/15/2027

(f)

4,334‌

3,926‌

DISH

DBS

Corp

5.13%,

06/01/2029

2,185‌

1,389‌

5.25%,

12/01/2026

(f)

3,070‌

2,646‌

5.75%,

12/01/2028

(f)

3,850‌

3,150‌

5.88%,

11/15/2024

2,494‌

2,354‌

7.38%,

07/01/2028

1,829‌

1,313‌

7.75%,

07/01/2026

2,900‌

2,355‌

DISH

Network

Corp

11.75%,

11/15/2027

(f)

2,538‌

2,638‌

Gannett

Holdings

LLC

6.00%,

11/01/2026

(f)

1,160‌

897‌

GCI

LLC

4.75%,

10/15/2028

(f)

520‌

458‌

Gray

Escrow

II

Inc

5.38%,

11/15/2031

(f)

900‌

692‌

Gray

Television

Inc

4.75%,

10/15/2030

(f)

500‌

369‌

5.88%,

07/15/2026

(f)

640‌

586‌

7.00%,

05/15/2027

(f),(g)

435‌

396‌

Historic

TW

Inc

8.30%,

01/15/2036

(h)

13‌

15‌

iHeartCommunications

Inc

4.75%,

01/15/2028

(f)

1,005‌

859‌

5.25%,

08/15/2027

(f)

836‌

749‌

6.38%,

05/01/2026

1,002‌

957‌

8.38%,

05/01/2027

1,423‌

1,275‌

LCPR

Senior

Secured

Financing

DAC

5.13%,

07/15/2029

(f)

776‌

683‌

6.75%,

10/15/2027

(f)

1,265‌

1,232‌

Liberty

Interactive

LLC

8.25%,

02/01/2030

1,167‌

555‌

8.50%,

07/15/2029

981‌

501‌

McGraw-Hill

Education

Inc

5.75%,

08/01/2028

(f)

750‌

659‌

8.00%,

08/01/2029

(f)

771‌

661‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

86

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

(continued)

Midcontinent

Communications

/

Midcontinent

Finance

Corp

5.38%,

08/15/2027

(f)

$

1,305‌

$

1,229‌

News

Corp

3.88%,

05/15/2029

(f)

1,375‌

1,230‌

5.13%,

02/15/2032

(f)

660‌

621‌

Nexstar

Media

Inc

4.75%,

11/01/2028

(f)

1,307‌

1,180‌

5.63%,

07/15/2027

(f)

8,925‌

8,502‌

Paramount

Global

6.25%,

02/28/2057

(j)

1,412‌

1,223‌

3

Month

USD

LIBOR

+

3.90%

Radiate

Holdco

LLC

/

Radiate

Finance

Inc

4.50%,

09/15/2026

(f)

831‌

636‌

6.50%,

09/15/2028

(f)

6,625‌

3,451‌

Scripps

Escrow

II

Inc

3.88%,

01/15/2029

(f)

443‌

370‌

5.38%,

01/15/2031

(f),(g)

3,173‌

2,561‌

Scripps

Escrow

Inc

5.88%,

07/15/2027

(f),(g)

608‌

543‌

Sinclair

Television

Group

Inc

4.13%,

12/01/2030

(f)

250‌

199‌

5.13%,

02/15/2027

(f)

218‌

193‌

5.50%,

03/01/2030

(f),(g)

295‌

235‌

Sirius

XM

Radio

Inc

3.13%,

09/01/2026

(f)

748‌

673‌

3.88%,

09/01/2031

(f)

5,355‌

4,415‌

4.00%,

07/15/2028

(f)

5,005‌

4,455‌

4.13%,

07/01/2030

(f)

4,030‌

3,456‌

5.00%,

08/01/2027

(f)

1,121‌

1,061‌

5.50%,

07/01/2029

(f)

933‌

874‌

SportsNet

New

York

10.25%,

01/15/2025

(e),(k)

4,130‌

4,047‌

TEGNA

Inc

4.63%,

03/15/2028

764‌

717‌

4.75%,

03/15/2026

(f)

583‌

565‌

5.00%,

09/15/2029

715‌

674‌

Telenet

Finance

Luxembourg

Notes

Sarl

5.50%,

03/01/2028

(f)

1,400‌

1,301‌

Univision

Communications

Inc

4.50%,

05/01/2029

(f)

1,350‌

1,162‌

5.13%,

02/15/2025

(f)

1,959‌

1,909‌

6.63%,

06/01/2027

(f)

1,712‌

1,678‌

7.38%,

06/30/2030

(f)

1,250‌

1,226‌

UPC

Broadband

Finco

BV

4.88%,

07/15/2031

(f)

1,360‌

1,196‌

UPC

Holding

BV

5.50%,

01/15/2028

(f)

455‌

415‌

Urban

One

Inc

7.38%,

02/01/2028

(f)

440‌

400‌

Videotron

Ltd

3.63%,

06/15/2029

(f),(g)

985‌

857‌

5.13%,

04/15/2027

(f)

838‌

804‌

5.38%,

06/15/2024

(f)

1,017‌

1,010‌

Virgin

Media

Finance

PLC

5.00%,

07/15/2030

(f)

12,796‌

10,741‌

Virgin

Media

Secured

Finance

PLC

4.50%,

08/15/2030

(f)

950‌

819‌

5.50%,

05/15/2029

(f)

1,475‌

1,368‌

Virgin

Media

Vendor

Financing

Notes

IV

DAC

5.00%,

07/15/2028

(f)

405‌

368‌

VZ

Secured

Financing

BV

5.00%,

01/15/2032

(f)

1,545‌

1,323‌

Warner

Media

LLC

7.63%,

04/15/2031

300‌

321‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

(continued)

Ziggo

Bond

Co

BV

5.13%,

02/28/2030

(f)

$

755‌

$

624‌

6.00%,

01/15/2027

(f)

1,625‌

1,536‌

Ziggo

BV

4.88%,

01/15/2030

(f)

1,275‌

1,111‌

$

171,211‌

Metal

Fabrication

&

Hardware

-

0

.02

%

Advanced

Drainage

Systems

Inc

6.38%,

06/15/2030

(f)

155‌

154‌

Park-Ohio

Industries

Inc

6.63%,

04/15/2027

756‌

556‌

$

710‌

Mining

-

1

.82

%

Arconic

Corp

6.00%,

05/15/2025

(f)

791‌

783‌

6.13%,

02/15/2028

(f)

18,157‌

17,445‌

Century

Aluminum

Co

7.50%,

04/01/2028

(f)

11,155‌

9,827‌

Coeur

Mining

Inc

5.13%,

02/15/2029

(f),(g)

895‌

721‌

Compass

Minerals

International

Inc

4.88%,

07/15/2024

(f)

510‌

494‌

6.75%,

12/01/2027

(f)

353‌

344‌

Constellium

SE

3.75%,

04/15/2029

(f),(g)

3,450‌

2,934‌

5.63%,

06/15/2028

(f)

1,250‌

1,185‌

5.88%,

02/15/2026

(f)

2,075‌

2,052‌

FMG

Resources

August

2006

Pty

Ltd

4.38%,

04/01/2031

(f)

1,835‌

1,615‌

4.50%,

09/15/2027

(f)

833‌

795‌

5.13%,

05/15/2024

(f)

1,070‌

1,060‌

5.88%,

04/15/2030

(f)

1,160‌

1,133‌

6.13%,

04/15/2032

(f)

419‌

408‌

Hecla

Mining

Co

7.25%,

02/15/2028

255‌

254‌

Hudbay

Minerals

Inc

4.50%,

04/01/2026

500‌

461‌

JW

Aluminum

Continuous

Cast

Co

10.25%,

06/01/2026

(f)

435‌

442‌

Kaiser

Aluminum

Corp

4.50%,

06/01/2031

(f)

141‌

119‌

4.63%,

03/01/2028

(f)

310‌

283‌

New

Gold

Inc

7.50%,

07/15/2027

(f)

594‌

551‌

Northwest

Acquisitions

ULC

/

Dominion

Finco

Inc

0.00%,

11/01/2022

(d),(f)

15,820‌

—‌

Novelis

Corp

3.25%,

11/15/2026

(f)

585‌

530‌

3.88%,

08/15/2031

(f)

1,925‌

1,625‌

4.75%,

01/30/2030

(f)

7,065‌

6,394‌

Perenti

Finance

Pty

Ltd

6.50%,

10/07/2025

(f),(g)

615‌

602‌

Real

Alloy

Holding

Inc

14.73%,

05/31/2025

(e),(h),(k)

4,258‌

4,258‌

$

56,315‌

Miscellaneous

Manufacturers

-

0

.15

%

Amsted

Industries

Inc

4.63%,

05/15/2030

(f)

415‌

372‌

5.63%,

07/01/2027

(f)

600‌

590‌

EnPro

Industries

Inc

5.75%,

10/15/2026

179‌

175‌

FXI

Holdings

Inc

7.88%,

11/01/2024

(f),(g)

616‌

555‌

12.25%,

11/15/2026

(f)

643‌

581‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

87

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Miscellaneous

Manufacturers

(continued)

Gates

Global

LLC

/

Gates

Corp

6.25%,

01/15/2026

(f)

$

680‌

$

670‌

Hillenbrand

Inc

5.00%,

09/15/2026

360‌

347‌

5.75%,

06/15/2025

327‌

329‌

LSB

Industries

Inc

6.25%,

10/15/2028

(f)

730‌

658‌

Trinity

Industries

Inc

4.55%,

10/01/2024

230‌

222‌

$

4,499‌

Office

&

Business

Equipment

-

0

.11

%

Pitney

Bowes

Inc

6.88%,

03/15/2027

(f)

620‌

520‌

7.25%,

03/15/2029

(f)

654‌

515‌

Xerox

Corp

3.80%,

05/15/2024

215‌

208‌

4.80%,

03/01/2035

650‌

444‌

6.75%,

12/15/2039

445‌

347‌

Xerox

Holdings

Corp

5.00%,

08/15/2025

(f),(g)

1,206‌

1,122‌

5.50%,

08/15/2028

(f)

250‌

212‌

$

3,368‌

Office

Furnishings

-

0

.01

%

Steelcase

Inc

5.13%,

01/18/2029

398‌

355‌

Oil

&

Gas

-

5

.86

%

Aethon

United

BR

LP

/

Aethon

United

Finance

Corp

8.25%,

02/15/2026

(f)

1,080‌

1,075‌

Antero

Resources

Corp

7.63%,

02/01/2029

(f)

234‌

239‌

Apache

Corp

4.25%,

01/15/2030

(g)

580‌

531‌

4.75%,

04/15/2043

117‌

93‌

5.10%,

09/01/2040

1,570‌

1,371‌

5.25%,

02/01/2042

815‌

685‌

5.35%,

07/01/2049

765‌

633‌

6.00%,

01/15/2037

335‌

317‌

Ascent

Resources

Utica

Holdings

LLC

/

ARU

Finance

Corp

5.88%,

06/30/2029

(f)

190‌

167‌

7.00%,

11/01/2026

(f)

900‌

858‌

8.25%,

12/31/2028

(f)

323‌

316‌

Athabasca

Oil

Corp

9.75%,

11/01/2026

(f)

309‌

324‌

Baytex

Energy

Corp

8.75%,

04/01/2027

(f),(g)

1,010‌

1,045‌

California

Resources

Corp

7.13%,

02/01/2026

(f)

30‌

29‌

Callon

Petroleum

Co

6.38%,

07/01/2026

275‌

265‌

7.50%,

06/15/2030

(f),(g)

5,800‌

5,611‌

8.00%,

08/01/2028

(f)

194‌

194‌

8.25%,

07/15/2025

464‌

464‌

Calumet

Specialty

Products

Partners

LP

/

Calumet

Finance

Corp

8.13%,

01/15/2027

(f)

476‌

459‌

9.25%,

07/15/2024

(f)

580‌

587‌

Chesapeake

Energy

Corp

5.50%,

02/01/2026

(f)

600‌

582‌

5.88%,

02/01/2029

(f)

554‌

531‌

6.75%,

04/15/2029

(f)

3,670‌

3,619‌

Chord

Energy

Corp

6.38%,

06/01/2026

(f)

684‌

674‌

Civitas

Resources

Inc

5.00%,

10/15/2026

(f)

1,160‌

1,082‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Oil

&

Gas

(continued)

CNX

Resources

Corp

6.00%,

01/15/2029

(f)

$

320‌

$

294‌

7.25%,

03/14/2027

(f)

290‌

289‌

7.38%,

01/15/2031

(f),(g)

4,350‌

4,230‌

Comstock

Resources

Inc

5.88%,

01/15/2030

(f)

16,325‌

13,999‌

6.75%,

03/01/2029

(f)

3,995‌

3,685‌

Crescent

Energy

Finance

LLC

7.25%,

05/01/2026

(f)

500‌

480‌

9.25%,

02/15/2028

(f),(l)

967‌

966‌

CrownRock

LP

/

CrownRock

Finance

Inc

5.00%,

05/01/2029

(f)

321‌

294‌

5.63%,

10/15/2025

(f)

1,540‌

1,502‌

CVR

Energy

Inc

5.25%,

02/15/2025

(f)

1,060‌

1,023‌

5.75%,

02/15/2028

(f)

300‌

275‌

Earthstone

Energy

Holdings

LLC

8.00%,

04/15/2027

(f)

500‌

488‌

Encino

Acquisition

Partners

Holdings

LLC

8.50%,

05/01/2028

(f)

750‌

699‌

Endeavor

Energy

Resources

LP

/

EER

Finance

Inc

5.75%,

01/30/2028

(f)

1,327‌

1,300‌

Energy

Ventures

Gom

LLC

/

EnVen

Finance

Corp

11.75%,

04/15/2026

(f)

189‌

197‌

Ensign

Drilling

Inc

9.25%,

04/15/2024

(f)

620‌

601‌

Global

Marine

Inc

7.00%,

06/01/2028

500‌

398‌

Harbour

Energy

PLC

5.50%,

10/15/2026

(f)

855‌

782‌

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co

5.75%,

02/01/2029

(f)

940‌

874‌

6.00%,

04/15/2030

(f)

2,660‌

2,473‌

6.00%,

02/01/2031

(f)

4,672‌

4,320‌

6.25%,

11/01/2028

(f)

385‌

370‌

6.25%,

04/15/2032

(f)

5,547‌

5,120‌

Ithaca

Energy

North

Sea

PLC

9.00%,

07/15/2026

(f)

170‌

167‌

Magnolia

Oil

&

Gas

Operating

LLC

/

Magnolia

Oil

&

Gas

Finance

Corp

6.00%,

08/01/2026

(f)

374‌

362‌

Matador

Resources

Co

5.88%,

09/15/2026

1,130‌

1,111‌

MEG

Energy

Corp

5.88%,

02/01/2029

(f)

7,045‌

6,728‌

7.13%,

02/01/2027

(f)

710‌

728‌

Moss

Creek

Resources

Holdings

Inc

7.50%,

01/15/2026

(f)

871‌

804‌

10.50%,

05/15/2027

(f)

310‌

299‌

Murphy

Oil

Corp

5.75%,

08/15/2025

(g)

297‌

296‌

6.13%,

12/01/2042

245‌

200‌

6.38%,

07/15/2028

474‌

469‌

Nabors

Industries

Inc

5.75%,

02/01/2025

595‌

577‌

7.38%,

05/15/2027

(f)

465‌

466‌

9.00%,

02/01/2025

(f)

15‌

15‌

Nabors

Industries

Ltd

7.25%,

01/15/2026

(f)

545‌

530‌

7.50%,

01/15/2028

(f)

420‌

400‌

Neptune

Energy

Bondco

PLC

6.63%,

05/15/2025

(f)

1,475‌

1,457‌

Northern

Oil

and

Gas

Inc

8.13%,

03/01/2028

(f)

1,265‌

1,260‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

88

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Oil

&

Gas

(continued)

Occidental

Petroleum

Corp

3.20%,

08/15/2026

$

165‌

$

153‌

4.30%,

08/15/2039

200‌

162‌

4.40%,

04/15/2046

725‌

594‌

4.50%,

07/15/2044

190‌

155‌

4.63%,

06/15/2045

246‌

205‌

5.50%,

12/01/2025

780‌

785‌

5.55%,

03/15/2026

975‌

985‌

5.88%,

09/01/2025

1,455‌

1,473‌

6.13%,

01/01/2031

4,610‌

4,811‌

6.20%,

03/15/2040

2,733‌

2,762‌

6.38%,

09/01/2028

370‌

384‌

6.45%,

09/15/2036

10,588‌

11,135‌

6.60%,

03/15/2046

6,437‌

6,854‌

6.63%,

09/01/2030

1,705‌

1,810‌

6.95%,

07/01/2024

342‌

348‌

7.15%,

05/15/2028

640‌

659‌

7.50%,

05/01/2031

1,120‌

1,246‌

7.88%,

09/15/2031

545‌

617‌

7.95%,

06/15/2039

740‌

849‌

8.50%,

07/15/2027

895‌

990‌

8.88%,

07/15/2030

5,545‌

6,529‌

Par

Petroleum

LLC

/

Par

Petroleum

Finance

Corp

7.75%,

12/15/2025

(f)

225‌

221‌

Parkland

Corp

4.50%,

10/01/2029

(f)

868‌

745‌

4.63%,

05/01/2030

(f)

300‌

258‌

5.88%,

07/15/2027

(f)

880‌

844‌

Patterson-UTI

Energy

Inc

3.95%,

02/01/2028

440‌

399‌

5.15%,

11/15/2029

515‌

481‌

PBF

Holding

Co

LLC

/

PBF

Finance

Corp

6.00%,

02/15/2028

1,120‌

1,056‌

7.25%,

06/15/2025

1,099‌

1,095‌

PDC

Energy

Inc

5.75%,

05/15/2026

1,130‌

1,093‌

6.13%,

09/15/2024

249‌

248‌

Permian

Resources

Operating

LLC

5.38%,

01/15/2026

(f)

150‌

142‌

5.88%,

07/01/2029

(f)

10,398‌

9,746‌

6.88%,

04/01/2027

(f)

200‌

196‌

Petrofac

Ltd

9.75%,

11/15/2026

(f)

797‌

510‌

Precision

Drilling

Corp

6.88%,

01/15/2029

(f)

190‌

183‌

7.13%,

01/15/2026

(f)

225‌

223‌

Puma

International

Financing

SA

5.00%,

01/24/2026

(f)

730‌

672‌

5.13%,

10/06/2024

(f)

400‌

386‌

Range

Resources

Corp

4.75%,

02/15/2030

(f),(g)

430‌

385‌

4.88%,

05/15/2025

550‌

531‌

8.25%,

01/15/2029

435‌

447‌

Rockcliff

Energy

II

LLC

5.50%,

10/15/2029

(f)

800‌

761‌

SM

Energy

Co

5.63%,

06/01/2025

345‌

338‌

6.75%,

09/15/2026

375‌

369‌

Southwestern

Energy

Co

4.75%,

02/01/2032

2,870‌

2,530‌

5.38%,

02/01/2029

440‌

413‌

5.38%,

03/15/2030

1,039‌

968‌

5.70%,

01/23/2025

173‌

172‌

7.75%,

10/01/2027

90‌

94‌

8.38%,

09/15/2028

165‌

173‌

Strathcona

Resources

Ltd/Alberta

6.88%,

08/01/2026

(f)

590‌

503‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Oil

&

Gas

(continued)

Sunoco

LP

/

Sunoco

Finance

Corp

4.50%,

05/15/2029

$

1,365‌

$

1,235‌

4.50%,

04/30/2030

4,080‌

3,634‌

5.88%,

03/15/2028

5,887‌

5,769‌

6.00%,

04/15/2027

490‌

490‌

Talos

Production

Inc

12.00%,

01/15/2026

638‌

676‌

Tap

Rock

Resources

LLC

7.00%,

10/01/2026

(f)

500‌

473‌

Teine

Energy

Ltd

6.88%,

04/15/2029

(f)

4,907‌

4,582‌

Transocean

Guardian

Ltd

5.88%,

01/15/2024

(f)

578‌

586‌

Transocean

Inc

7.25%,

11/01/2025

(f)

485‌

462‌

7.50%,

01/15/2026

(f)

792‌

744‌

7.50%,

04/15/2031

275‌

213‌

8.00%,

02/01/2027

(f)

944‌

866‌

8.75%,

02/15/2030

(f),(g)

3,260‌

3,361‌

9.35%,

12/15/2041

200‌

157‌

11.50%,

01/30/2027

(f)

745‌

777‌

Transocean

Pontus

Ltd

6.13%,

08/01/2025

(f)

777‌

801‌

Transocean

Poseidon

Ltd

6.88%,

02/01/2027

(f)

593‌

592‌

Vermilion

Energy

Inc

5.63%,

03/15/2025

(f)

599‌

583‌

6.88%,

05/01/2030

(f)

300‌

277‌

Viper

Energy

Partners

LP

5.38%,

11/01/2027

(f)

620‌

600‌

Vital

Energy

Inc

7.75%,

07/31/2029

(f)

335‌

309‌

9.50%,

01/15/2025

620‌

626‌

10.13%,

01/15/2028

(g)

245‌

244‌

W&T

Offshore

Inc

11.75%,

02/01/2026

(f)

1,115‌

1,129‌

$

181,153‌

Oil

&

Gas

Services

-

0

.26

%

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp

6.25%,

04/01/2028

(f)

985‌

936‌

6.88%,

04/01/2027

(f)

435‌

426‌

Bristow

Group

Inc

6.88%,

03/01/2028

(f)

415‌

395‌

CGG

SA

8.75%,

04/01/2027

(f)

204‌

181‌

KCA

Deutag

UK

Finance

PLC

9.88%,

12/01/2025

(f)

500‌

480‌

KLX

Energy

Services

Holdings

Inc

11.50%,

11/01/2025

(f)

455‌

430‌

Oceaneering

International

Inc

4.65%,

11/15/2024

113‌

110‌

6.00%,

02/01/2028

479‌

458‌

Telford

Offshore

Ltd

12.00%,

PIK

12.00%

(h),(i),(m)

450‌

—‌

Transocean

Phoenix

2

Ltd

7.75%,

10/15/2024

(f)

366‌

371‌

Transocean

Proteus

Ltd

6.25%,

12/01/2024

(f)

328‌

332‌

USA

Compression

Partners

LP

/

USA

Compression

Finance

Corp

6.88%,

04/01/2026

807‌

792‌

6.88%,

09/01/2027

739‌

717‌

Weatherford

International

Ltd

6.50%,

09/15/2028

(f)

690‌

686‌

8.63%,

04/30/2030

(f)

1,715‌

1,731‌

$

8,045‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

89

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Packaging

&

Containers

-

2

.78

%

ARD

Finance

SA

6.50%,

PIK

7.25%;

06/30/2027

(f),(h),(i)

$

1,027‌

$

806‌

Ardagh

Metal

Packaging

Finance

USA

LLC

/

Ardagh

Metal

Packaging

Finance

PLC

3.25%,

09/01/2028

(f)

749‌

657‌

4.00%,

09/01/2029

(f)

19,379‌

16,024‌

6.00%,

06/15/2027

(f)

300‌

299‌

Ardagh

Packaging

Finance

PLC

/

Ardagh

Holdings

USA

Inc

4.13%,

08/15/2026

(f)

1,680‌

1,533‌

5.25%,

04/30/2025

(f)

1,225‌

1,198‌

5.25%,

08/15/2027

(f)

894‌

732‌

5.25%,

08/15/2027

(f)

970‌

794‌

Ball

Corp

2.88%,

08/15/2030

1,065‌

873‌

3.13%,

09/15/2031

700‌

572‌

4.88%,

03/15/2026

1,140‌

1,123‌

5.25%,

07/01/2025

885‌

881‌

Berry

Global

Inc

4.50%,

02/15/2026

(f),(g)

296‌

287‌

5.63%,

07/15/2027

(f)

500‌

491‌

Cascades

Inc/Cascades

USA

Inc

5.38%,

01/15/2028

(f)

511‌

477‌

Clydesdale

Acquisition

Holdings

Inc

8.75%,

04/15/2030

(f)

1,070‌

946‌

Crown

Americas

LLC

5.25%,

04/01/2030

540‌

520‌

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp

V

4.25%,

09/30/2026

645‌

616‌

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp

VI

4.75%,

02/01/2026

500‌

488‌

Crown

Cork

&

Seal

Co

Inc

7.38%,

12/15/2026

654‌

683‌

Graham

Packaging

Co

Inc

7.13%,

08/15/2028

(f)

625‌

546‌

Graphic

Packaging

International

LLC

3.50%,

03/15/2028

(f)

560‌

501‌

3.50%,

03/01/2029

(f)

1,113‌

980‌

Intelligent

Packaging

Ltd

Finco

Inc

/

Intelligent

Packaging

Ltd

Co-Issuer

LLC

6.00%,

09/15/2028

(f)

6,135‌

5,420‌

LABL

Inc

6.75%,

07/15/2026

(f)

695‌

674‌

8.25%,

11/01/2029

(f)

355‌

298‌

10.50%,

07/15/2027

(f)

925‌

880‌

Matthews

International

Corp

5.25%,

12/01/2025

(f)

265‌

253‌

Mauser

Packaging

Solutions

Holding

Co

5.50%,

04/15/2024

(f)

1,875‌

1,874‌

7.25%,

04/15/2025

(f)

1,520‌

1,484‌

7.88%,

08/15/2026

(f),(l)

1,228‌

1,239‌

OI

European

Group

BV

4.75%,

02/15/2030

(f)

712‌

639‌

Owens-Brockway

Glass

Container

Inc

5.38%,

01/15/2025

(f)

205‌

199‌

6.38%,

08/15/2025

(f)

243‌

238‌

6.63%,

05/13/2027

(f)

620‌

608‌

Pactiv

Evergreen

Group

Issuer

Inc/Pactiv

Evergreen

Group

Issuer

LLC

4.00%,

10/15/2027

(f)

1,275‌

1,144‌

Pactiv

Evergreen

Group

Issuer

LLC

/

Pactiv

Evergreen

Group

Issuer

Inc

4.38%,

10/15/2028

(f)

520‌

462‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Packaging

&

Containers

(continued)

Sealed

Air

Corp

4.00%,

12/01/2027

(f)

$

530‌

$

490‌

5.00%,

04/15/2029

(f)

293‌

281‌

5.13%,

12/01/2024

(f)

80‌

79‌

5.50%,

09/15/2025

(f)

872‌

867‌

6.13%,

02/01/2028

(f)

1,115‌

1,125‌

6.88%,

07/15/2033

(f)

790‌

821‌

Silgan

Holdings

Inc

4.13%,

02/01/2028

715‌

668‌

Trident

TPI

Holdings

Inc

6.63%,

11/01/2025

(f)

12,274‌

10,970‌

9.25%,

08/01/2024

(f)

6,247‌

6,097‌

TriMas

Corp

4.13%,

04/15/2029

(f)

516‌

459‌

Trivium

Packaging

Finance

BV

5.50%,

08/15/2026

(f)

16,360‌

15,705‌

8.50%,

08/15/2027

(f)

1,030‌

991‌

$

85,992‌

Pharmaceuticals

-

1

.02

%

180

Medical

Inc

3.88%,

10/15/2029

(f)

625‌

554‌

AdaptHealth

LLC

4.63%,

08/01/2029

(f)

515‌

448‌

6.13%,

08/01/2028

(f)

415‌

392‌

Bausch

Health

Cos

Inc

4.88%,

06/01/2028

(f)

515‌

331‌

5.00%,

01/30/2028

(f)

500‌

224‌

5.50%,

11/01/2025

(f)

1,935‌

1,646‌

5.75%,

08/15/2027

(f)

900‌

610‌

6.13%,

02/01/2027

(f)

1,005‌

686‌

6.25%,

02/15/2029

(f)

500‌

230‌

7.25%,

05/30/2029

(f)

400‌

179‌

9.00%,

12/15/2025

(f)

1,080‌

851‌

11.00%,

09/30/2028

(f)

2,151‌

1,683‌

14.00%,

10/15/2030

(f)

721‌

450‌

BellRing

Brands

Inc

7.00%,

03/15/2030

(f)

302‌

300‌

Cheplapharm

Arzneimittel

GmbH

5.50%,

01/15/2028

(f)

405‌

361‌

Elanco

Animal

Health

Inc

6.40%,

08/28/2028

1,035‌

1,010‌

Herbalife

Nutrition

Ltd

/

HLF

Financing

Inc

7.88%,

09/01/2025

(f)

835‌

783‌

HLF

Financing

Sarl

LLC

/

Herbalife

International

Inc

4.88%,

06/01/2029

(f)

1,285‌

940‌

Horizon

Therapeutics

USA

Inc

5.50%,

08/01/2027

(f)

710‌

725‌

Jazz

Securities

DAC

4.38%,

01/15/2029

(f)

2,126‌

1,940‌

Mallinckrodt

International

Finance

SA

/

Mallinckrodt

CB

LLC

10.00%,

04/15/2025

(f)

110‌

74‌

11.50%,

12/15/2028

(f)

600‌

531‌

Option

Care

Health

Inc

4.38%,

10/31/2029

(f)

433‌

374‌

Organon

&

Co

/

Organon

Foreign

Debt

Co-Issuer

BV

4.13%,

04/30/2028

(f)

2,978‌

2,693‌

5.13%,

04/30/2031

(f)

8,620‌

7,782‌

Owens

&

Minor

Inc

4.50%,

03/31/2029

(f),(g)

555‌

452‌

6.63%,

04/01/2030

(f)

485‌

429‌

P&L

Development

LLC

/

PLD

Finance

Corp

7.75%,

11/15/2025

(f)

505‌

411‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

90

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Pharmaceuticals

(continued)

Perrigo

Finance

Unlimited

Co

3.90%,

12/15/2024

$

1,027‌

$

993‌

4.38%,

03/15/2026

1,036‌

981‌

4.40%,

06/15/2030

815‌

715‌

4.90%,

12/15/2044

660‌

492‌

Prestige

Brands

Inc

3.75%,

04/01/2031

(f)

935‌

794‌

5.13%,

01/15/2028

(f)

495‌

473‌

$

31,537‌

Pipelines

-

4

.52

%

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp

5.38%,

06/15/2029

(f)

3,285‌

3,051‌

5.75%,

03/01/2027

(f)

720‌

698‌

5.75%,

01/15/2028

(f)

6,325‌

6,048‌

7.88%,

05/15/2026

(f)

603‌

619‌

Blue

Racer

Midstream

LLC

/

Blue

Racer

Finance

Corp

6.63%,

07/15/2026

(f)

580‌

571‌

7.63%,

12/15/2025

(f)

210‌

213‌

Buckeye

Partners

LP

4.13%,

03/01/2025

(f)

850‌

808‌

4.13%,

12/01/2027

945‌

855‌

4.35%,

10/15/2024

295‌

286‌

4.50%,

03/01/2028

(f)

5,240‌

4,783‌

5.60%,

10/15/2044

3,121‌

2,380‌

5.85%,

11/15/2043

3,120‌

2,387‌

Cheniere

Energy

Inc

4.63%,

10/15/2028

1,335‌

1,271‌

CNX

Midstream

Partners

LP

4.75%,

04/15/2030

(f)

5,514‌

4,666‌

CQP

Holdco

LP

/

BIP-V

Chinook

Holdco

LLC

5.50%,

06/15/2031

(f)

10,475‌

9,538‌

Crestwood

Midstream

Partners

LP

/

Crestwood

Midstream

Finance

Corp

5.63%,

05/01/2027

(f)

688‌

658‌

5.75%,

04/01/2025

(g)

274‌

270‌

6.00%,

02/01/2029

(f)

1,060‌

1,006‌

7.38%,

02/01/2031

(f)

1,435‌

1,444‌

8.00%,

04/01/2029

(f)

634‌

643‌

Delek

Logistics

Partners

LP

/

Delek

Logistics

Finance

Corp

6.75%,

05/15/2025

665‌

648‌

7.13%,

06/01/2028

(f)

401‌

368‌

DT

Midstream

Inc

4.13%,

06/15/2029

(f)

1,534‌

1,346‌

4.38%,

06/15/2031

(f)

1,560‌

1,365‌

EnLink

Midstream

LLC

5.38%,

06/01/2029

834‌

804‌

5.63%,

01/15/2028

(f)

382‌

373‌

6.50%,

09/01/2030

(f)

5,335‌

5,435‌

EnLink

Midstream

Partners

LP

4.15%,

06/01/2025

378‌

364‌

4.85%,

07/15/2026

754‌

731‌

5.05%,

04/01/2045

250‌

197‌

5.45%,

06/01/2047

77‌

64‌

5.60%,

04/01/2044

593‌

497‌

EQM

Midstream

Partners

LP

4.00%,

08/01/2024

792‌

766‌

4.13%,

12/01/2026

258‌

233‌

4.50%,

01/15/2029

(f)

580‌

509‌

4.75%,

01/15/2031

(f)

6,740‌

5,700‌

5.50%,

07/15/2028

563‌

519‌

6.50%,

07/01/2027

(f)

786‌

772‌

6.50%,

07/15/2048

490‌

377‌

7.50%,

06/01/2027

(f)

368‌

368‌

7.50%,

06/01/2030

(f)

376‌

376‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Pipelines

(continued)

FTAI

Infra

Escrow

Holdings

LLC

10.50%,

06/01/2027

(f)

$

425‌

$

426‌

Genesis

Energy

LP

/

Genesis

Energy

Finance

Corp

6.25%,

05/15/2026

247‌

236‌

6.50%,

10/01/2025

701‌

689‌

7.75%,

02/01/2028

1,005‌

971‌

8.00%,

01/15/2027

9,650‌

9,527‌

8.88%,

04/15/2030

3,300‌

3,354‌

Global

Partners

LP

/

GLP

Finance

Corp

6.88%,

01/15/2029

241‌

227‌

7.00%,

08/01/2027

357‌

343‌

Harvest

Midstream

I

LP

7.50%,

09/01/2028

(f)

906‌

891‌

Hess

Midstream

Operations

LP

4.25%,

02/15/2030

(f)

388‌

340‌

5.13%,

06/15/2028

(f)

245‌

231‌

5.50%,

10/15/2030

(f)

3,505‌

3,269‌

5.63%,

02/15/2026

(f)

901‌

892‌

Holly

Energy

Partners

LP

/

Holly

Energy

Finance

Corp

5.00%,

02/01/2028

(f)

7,680‌

7,152‌

6.38%,

04/15/2027

(f)

500‌

494‌

Howard

Midstream

Energy

Partners

LLC

6.75%,

01/15/2027

(f)

990‌

965‌

ITT

Holdings

LLC

6.50%,

08/01/2029

(f)

1,140‌

990‌

Kinetik

Holdings

LP

5.88%,

06/15/2030

(f)

1,600‌

1,520‌

New

Fortress

Energy

Inc

6.50%,

09/30/2026

(f)

2,334‌

2,148‌

6.75%,

09/15/2025

(f)

6,166‌

5,899‌

NGL

Energy

Operating

LLC

/

NGL

Energy

Finance

Corp

7.50%,

02/01/2026

(f)

2,324‌

2,207‌

NGL

Energy

Partners

LP

/

NGL

Energy

Finance

Corp

6.13%,

03/01/2025

431‌

383‌

7.50%,

04/15/2026

551‌

468‌

Northriver

Midstream

Finance

LP

5.63%,

02/15/2026

(f)

558‌

536‌

NuStar

Logistics

LP

5.63%,

04/28/2027

908‌

871‌

5.75%,

10/01/2025

705‌

698‌

6.00%,

06/01/2026

640‌

627‌

6.38%,

10/01/2030

620‌

597‌

Rockies

Express

Pipeline

LLC

3.60%,

05/15/2025

(f)

800‌

756‌

4.80%,

05/15/2030

(f)

4,311‌

3,837‌

4.95%,

07/15/2029

(f)

1,171‌

1,058‌

6.88%,

04/15/2040

(f)

655‌

555‌

7.50%,

07/15/2038

(f)

630‌

583‌

Southeast

Supply

Header

LLC

4.25%,

06/15/2024

(f)

515‌

487‌

Summit

Midstream

Holdings

LLC

/

Summit

Midstream

Finance

Corp

5.75%,

04/15/2025

300‌

258‌

8.50%,

10/15/2026

(f)

915‌

891‌

Tallgrass

Energy

Partners

LP

/

Tallgrass

Energy

Finance

Corp

5.50%,

01/15/2028

(f)

872‌

803‌

6.00%,

03/01/2027

(f)

691‌

655‌

6.00%,

12/31/2030

(f)

1,220‌

1,111‌

6.00%,

09/01/2031

(f)

565‌

509‌

7.50%,

10/01/2025

(f)

615‌

623‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

91

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Pipelines

(continued)

Venture

Global

Calcasieu

Pass

LLC

3.88%,

08/15/2029

(f)

$

970‌

$

863‌

3.88%,

11/01/2033

(f)

1,665‌

1,414‌

4.13%,

08/15/2031

(f)

1,265‌

1,121‌

6.25%,

01/15/2030

(f)

3,825‌

3,896‌

Western

Midstream

Operating

LP

3.35%,

02/01/2025

822‌

785‌

4.30%,

02/01/2030

1,295‌

1,186‌

4.50%,

03/01/2028

262‌

248‌

4.65%,

07/01/2026

567‌

546‌

4.75%,

08/15/2028

400‌

377‌

5.30%,

03/01/2048

4,975‌

4,353‌

5.45%,

04/01/2044

885‌

779‌

5.50%,

08/15/2048

240‌

209‌

5.50%,

02/01/2050

1,199‌

1,040‌

$

139,901‌

Real

Estate

-

0

.29

%

Cushman

&

Wakefield

US

Borrower

LLC

6.75%,

05/15/2028

(f)

960‌

927‌

Five

Point

Operating

Co

LP

/

Five

Point

Capital

Corp

7.88%,

11/15/2025

(f)

496‌

446‌

Greystar

Real

Estate

Partners

LLC

5.75%,

12/01/2025

(f)

561‌

552‌

Howard

Hughes

Corp/The

4.13%,

02/01/2029

(f)

1,045‌

902‌

4.38%,

02/01/2031

(f)

933‌

775‌

5.38%,

08/01/2028

(f)

910‌

843‌

Hunt

Cos

Inc

5.25%,

04/15/2029

(f)

500‌

424‌

Kennedy-Wilson

Inc

4.75%,

03/01/2029

673‌

565‌

4.75%,

02/01/2030

660‌

541‌

5.00%,

03/01/2031

888‌

724‌

Realogy

Group

LLC

/

Realogy

Co-Issuer

Corp

5.25%,

04/15/2030

(f)

510‌

383‌

5.75%,

01/15/2029

(f)

1,565‌

1,217‌

WeWork

Cos

Inc

7.88%,

05/01/2025

(f)

705‌

381‌

WeWork

Cos

LLC

/

WW

Co-Obligor

Inc

5.00%,

07/10/2025

(f)

815‌

345‌

$

9,025‌

REITs

-

1

.38

%

Apollo

Commercial

Real

Estate

Finance

Inc

4.63%,

06/15/2029

(f)

342‌

280‌

Blackstone

Mortgage

Trust

Inc

3.75%,

01/15/2027

(f)

286‌

252‌

Brookfield

Property

REIT

Inc

/

BPR

Cumulus

LLC

/

BPR

Nimbus

LLC

/

GGSI

Sellco

LL

4.50%,

04/01/2027

(f)

781‌

686‌

5.75%,

05/15/2026

(f)

850‌

809‌

CTR

Partnership

LP

/

CareTrust

Capital

Corp

3.88%,

06/30/2028

(f)

300‌

269‌

Diversified

Healthcare

Trust

4.38%,

03/01/2031

610‌

413‌

9.75%,

06/15/2025

545‌

532‌

HAT

Holdings

I

LLC

/

HAT

Holdings

II

LLC

3.38%,

06/15/2026

(f)

1,045‌

927‌

3.75%,

09/15/2030

(f)

630‌

481‌

6.00%,

04/15/2025

(f)

430‌

420‌

Iron

Mountain

Inc

4.50%,

02/15/2031

(f)

1,927‌

1,651‌

4.88%,

09/15/2027

(f)

1,361‌

1,281‌

4.88%,

09/15/2029

(f)

1,220‌

1,102‌

5.00%,

07/15/2028

(f)

750‌

690‌

5.25%,

03/15/2028

(f)

1,148‌

1,092‌

5.25%,

07/15/2030

(f)

2,057‌

1,861‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

REITs

(continued)

Iron

Mountain

Inc  

(continued)

5.63%,

07/15/2032

(f)

$

1,044‌

$

939‌

iStar

Inc

4.75%,

10/01/2024

745‌

741‌

5.50%,

02/15/2026

647‌

651‌

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp

4.25%,

02/01/2027

(f)

415‌

366‌

4.75%,

06/15/2029

(f)

619‌

514‌

5.25%,

10/01/2025

(f)

294‌

283‌

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp

3.50%,

03/15/2031

1,462‌

1,023‌

4.63%,

08/01/2029

835‌

649‌

5.00%,

10/15/2027

(g)

1,561‌

1,320‌

Necessity

Retail

REIT

Inc/The

/

American

Finance

Operating

Partner

LP

4.50%,

09/30/2028

(f)

455‌

346‌

Office

Properties

Income

Trust

2.40%,

02/01/2027

688‌

529‌

2.65%,

06/15/2026

810‌

651‌

3.45%,

10/15/2031

289‌

203‌

4.25%,

05/15/2024

572‌

555‌

4.50%,

02/01/2025

1,249‌

1,162‌

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co-Issuer

4.88%,

05/15/2029

(f)

1,020‌

882‌

5.88%,

10/01/2028

(f)

854‌

790‌

7.50%,

06/01/2025

(f)

860‌

872‌

RHP

Hotel

Properties

LP

/

RHP

Finance

Corp

4.50%,

02/15/2029

(f)

600‌

533‌

4.75%,

10/15/2027

795‌

745‌

Rithm

Capital

Corp

6.25%,

10/15/2025

(f)

600‌

559‌

RLJ

Lodging

Trust

LP

3.75%,

07/01/2026

(f)

500‌

457‌

4.00%,

09/15/2029

(f)

823‌

690‌

SBA

Communications

Corp

3.13%,

02/01/2029

1,946‌

1,649‌

3.88%,

02/15/2027

1,930‌

1,782‌

Service

Properties

Trust

3.95%,

01/15/2028

225‌

171‌

4.35%,

10/01/2024

918‌

866‌

4.38%,

02/15/2030

220‌

160‌

4.50%,

03/15/2025

645‌

584‌

4.65%,

03/15/2024

568‌

553‌

4.75%,

10/01/2026

510‌

421‌

4.95%,

02/15/2027

615‌

503‌

5.25%,

02/15/2026

650‌

563‌

5.50%,

12/15/2027

851‌

754‌

7.50%,

09/15/2025

896‌

881‌

Starwood

Property

Trust

Inc

3.63%,

07/15/2026

(f)

373‌

335‌

3.75%,

12/31/2024

(f)

130‌

123‌

4.38%,

01/15/2027

(f)

540‌

485‌

4.75%,

03/15/2025

516‌

494‌

Uniti

Group

LP

/

Uniti

Fiber

Holdings

Inc

/

CSL

Capital

LLC

6.00%,

01/15/2030

(f)

699‌

463‌

7.88%,

02/15/2025

(f)

1,474‌

1,455‌

Uniti

Group

LP

/

Uniti

Group

Finance

Inc

/

CSL

Capital

LLC

4.75%,

04/15/2028

(f)

200‌

163‌

6.50%,

02/15/2029

(f)

1,165‌

810‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

92

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

REITs

(continued)

XHR

LP

4.88%,

06/01/2029

(f)

$

890‌

$

790‌

6.38%,

08/15/2025

(f)

505‌

497‌

$

42,708‌

Retail

-

4

.94

%

1011778

BC

ULC

/

New

Red

Finance

Inc

3.50%,

02/15/2029

(f)

1,238‌

1,083‌

3.88%,

01/15/2028

(f)

1,838‌

1,680‌

4.00%,

10/15/2030

(f)

24,077‌

20,496‌

4.38%,

01/15/2028

(f)

860‌

791‌

5.75%,

04/15/2025

(f)

370‌

369‌

99

Escrow

Issuer

Inc

7.50%,

01/15/2026

(f)

460‌

222‌

AAG

FH

LP

/

AAG

FH

Finco

Inc

9.75%,

07/15/2024

(f)

115‌

111‌

Abercrombie

&

Fitch

Management

Co

8.75%,

07/15/2025

(f),(g)

215‌

217‌

Academy

Ltd

6.00%,

11/15/2027

(f)

535‌

520‌

Arko

Corp

5.13%,

11/15/2029

(f)

215‌

170‌

Asbury

Automotive

Group

Inc

4.50%,

03/01/2028

500‌

452‌

4.63%,

11/15/2029

(f)

1,190‌

1,050‌

4.75%,

03/01/2030

387‌

339‌

5.00%,

02/15/2032

(f)

942‌

812‌

At

Home

Group

Inc

7.13%,

07/15/2029

(f)

100‌

62‌

Bath

&

Body

Works

Inc

5.25%,

02/01/2028

500‌

472‌

6.63%,

10/01/2030

(f)

1,215‌

1,187‌

6.69%,

01/15/2027

300‌

301‌

6.75%,

07/01/2036

700‌

633‌

6.88%,

11/01/2035

1,349‌

1,229‌

6.95%,

03/01/2033

590‌

528‌

7.50%,

06/15/2029

(g)

483‌

490‌

7.60%,

07/15/2037

717‌

628‌

9.38%,

07/01/2025

(f)

409‌

438‌

BCPE

Ulysses

Intermediate

Inc

7.75%,

PIK

8.50%;

04/01/2027

(f),(h),(i)

630‌

473‌

Beacon

Roofing

Supply

Inc

4.13%,

05/15/2029

(f)

208‌

179‌

4.50%,

11/15/2026

(f)

401‌

382‌

Bloomin'

Brands

Inc

/

OSI

Restaurant

Partners

LLC

5.13%,

04/15/2029

(f)

345‌

308‌

BlueLinx

Holdings

Inc

6.00%,

11/15/2029

(f)

205‌

182‌

Brinker

International

Inc

5.00%,

10/01/2024

(f)

235‌

230‌

Carrols

Restaurant

Group

Inc

5.88%,

07/01/2029

(f),(g)

300‌

231‌

Carvana

Co

4.88%,

09/01/2029

(f)

1,107‌

493‌

5.50%,

04/15/2027

(f)

770‌

347‌

5.63%,

10/01/2025

(f)

415‌

208‌

5.88%,

10/01/2028

(f)

500‌

218‌

10.25%,

05/01/2030

(f)

3,750‌

2,011‌

CEC

Entertainment

LLC

6.75%,

05/01/2026

(f)

500‌

463‌

Dave

&

Buster's

Inc

7.63%,

11/01/2025

(f)

240‌

244‌

eG

Global

Finance

PLC

6.75%,

02/07/2025

(f)

348‌

323‌

8.50%,

10/30/2025

(f)

265‌

250‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Retail

(continued)

Ferrellgas

LP

/

Ferrellgas

Finance

Corp

5.38%,

04/01/2026

(f)

$

636‌

$

585‌

5.88%,

04/01/2029

(f)

471‌

392‌

Fertitta

Entertainment

LLC

/

Fertitta

Entertainment

Finance

Co

Inc

4.63%,

01/15/2029

(f)

734‌

648‌

6.75%,

01/15/2030

(f)

1,365‌

1,133‌

FirstCash

Inc

4.63%,

09/01/2028

(f)

715‌

643‌

5.63%,

01/01/2030

(f)

585‌

535‌

Foot

Locker

Inc

4.00%,

10/01/2029

(f)

905‌

765‌

Foundation

Building

Materials

Inc

6.00%,

03/01/2029

(f)

882‌

709‌

Gap

Inc/The

3.63%,

10/01/2029

(f)

576‌

442‌

3.88%,

10/01/2031

(f)

600‌

447‌

GPS

Hospitality

Holding

Co

LLC

/

GPS

Finco

Inc

7.00%,

08/15/2028

(f)

420‌

260‌

Group

1

Automotive

Inc

4.00%,

08/15/2028

(f)

840‌

739‌

IRB

Holding

Corp

7.00%,

06/15/2025

(f)

8,722‌

8,753‌

Ken

Garff

Automotive

LLC

4.88%,

09/15/2028

(f)

330‌

284‌

KFC

Holding

Co/Pizza

Hut

Holdings

LLC/Taco

Bell

of

America

LLC

4.75%,

06/01/2027

(f)

824‌

799‌

Kohl's

Corp

3.63%,

05/01/2031

1,535‌

1,137‌

4.25%,

07/17/2025

257‌

247‌

5.55%,

07/17/2045

594‌

391‌

LBM

Acquisition

LLC

6.25%,

01/15/2029

(f)

6,363‌

4,836‌

LCM

Investments

Holdings

II

LLC

4.88%,

05/01/2029

(f)

425‌

351‌

Lithia

Motors

Inc

3.88%,

06/01/2029

(f)

1,060‌

901‌

4.38%,

01/15/2031

(f)

884‌

753‌

4.63%,

12/15/2027

(f)

586‌

545‌

LSF9

Atlantis

Holdings

LLC

/

Victra

Finance

Corp

7.75%,

02/15/2026

(f)

14,125‌

12,889‌

Macy's

Retail

Holdings

LLC

4.30%,

02/15/2043

265‌

164‌

4.50%,

12/15/2034

592‌

435‌

5.13%,

01/15/2042

379‌

256‌

5.88%,

04/01/2029

(f)

990‌

921‌

5.88%,

03/15/2030

(f)

1,285‌

1,173‌

6.38%,

03/15/2037

670‌

553‌

Marks

&

Spencer

PLC

7.13%,

12/01/2037

(f)

200‌

179‌

Michaels

Cos

Inc/The

5.25%,

05/01/2028

(f)

835‌

696‌

7.88%,

05/01/2029

(f)

1,436‌

1,091‌

Murphy

Oil

USA

Inc

3.75%,

02/15/2031

(f)

540‌

452‌

4.75%,

09/15/2029

832‌

762‌

5.63%,

05/01/2027

432‌

424‌

NMG

Holding

Co

Inc

/

Neiman

Marcus

Group

LLC

7.13%,

04/01/2026

(f)

1,500‌

1,432‌

Nordstrom

Inc

4.00%,

03/15/2027

265‌

229‌

4.25%,

08/01/2031

960‌

721‌

4.38%,

04/01/2030

1,062‌

852‌

5.00%,

01/15/2044

1,175‌

793‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

93

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Retail

(continued)

Nordstrom

Inc  

(continued)

6.95%,

03/15/2028

(g)

$

675‌

$

655‌

Papa

John's

International

Inc

3.88%,

09/15/2029

(f),(g)

1,230‌

1,058‌

Park

River

Holdings

Inc

5.63%,

02/01/2029

(f)

421‌

294‌

6.75%,

08/01/2029

(f)

4,175‌

2,964‌

Party

City

Holdings

Inc

8.75%,

02/15/2026

(f)

444‌

37‌

Patrick

Industries

Inc

4.75%,

05/01/2029

(f)

840‌

718‌

7.50%,

10/15/2027

(f)

435‌

430‌

Penske

Automotive

Group

Inc

3.75%,

06/15/2029

500‌

423‌

PetSmart

Inc

/

PetSmart

Finance

Corp

4.75%,

02/15/2028

(f)

1,505‌

1,392‌

7.75%,

02/15/2029

(f)

1,637‌

1,609‌

QVC

Inc

4.38%,

09/01/2028

1,021‌

659‌

4.45%,

02/15/2025

920‌

783‌

4.75%,

02/15/2027

595‌

451‌

4.85%,

04/01/2024

910‌

866‌

5.45%,

08/15/2034

450‌

264‌

5.95%,

03/15/2043

310‌

160‌

Rite

Aid

Corp

7.70%,

02/15/2027

22‌

10‌

8.00%,

11/15/2026

(f)

754‌

420‌

Sizzling

Platter

LLC

/

Sizzling

Platter

Finance

Corp

8.50%,

11/28/2025

(f)

215‌

199‌

Sonic

Automotive

Inc

4.63%,

11/15/2029

(f)

3,075‌

2,556‌

4.88%,

11/15/2031

(f)

1,000‌

798‌

Specialty

Building

Products

Holdings

LLC

/

SBP

Finance

Corp

6.38%,

09/30/2026

(f)

15,647‌

14,075‌

SRS

Distribution

Inc

4.63%,

07/01/2028

(f)

625‌

571‌

6.00%,

12/01/2029

(f)

7,805‌

6,667‌

6.13%,

07/01/2029

(f)

800‌

688‌

Staples

Inc

7.50%,

04/15/2026

(f)

1,567‌

1,392‌

10.75%,

04/15/2027

(f)

1,085‌

822‌

Suburban

Propane

Partners

LP/Suburban

Energy

Finance

Corp

5.00%,

06/01/2031

(f)

6,047‌

5,261‌

5.88%,

03/01/2027

523‌

505‌

Superior

Plus

LP

/

Superior

General

Partner

Inc

4.50%,

03/15/2029

(f)

690‌

610‌

Victoria's

Secret

&

Co

4.63%,

07/15/2029

(f),(g)

925‌

768‌

White

Cap

Buyer

LLC

6.88%,

10/15/2028

(f)

8,190‌

7,455‌

Yum!

Brands

Inc

3.63%,

03/15/2031

1,279‌

1,090‌

4.63%,

01/31/2032

1,790‌

1,629‌

4.75%,

01/15/2030

(f)

1,410‌

1,319‌

5.35%,

11/01/2043

408‌

349‌

5.38%,

04/01/2032

1,370‌

1,300‌

6.88%,

11/15/2037

300‌

321‌

$

152,707‌

Semiconductors

-

0

.13

%

Amkor

Technology

Inc

6.63%,

09/15/2027

(f)

500‌

502‌

ams-OSRAM

AG

7.00%,

07/31/2025

(f),(g)

365‌

351‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Semiconductors

(continued)

Entegris

Escrow

Corp

5.95%,

06/15/2030

(f)

$

900‌

$

864‌

Entegris

Inc

3.63%,

05/01/2029

(f),(g)

603‌

514‌

4.38%,

04/15/2028

(f)

880‌

797‌

ON

Semiconductor

Corp

3.88%,

09/01/2028

(f)

710‌

648‌

Synaptics

Inc

4.00%,

06/15/2029

(f)

285‌

247‌

$

3,923‌

Software

-

3

.22

%

ACI

Worldwide

Inc

5.75%,

08/15/2026

(f)

3,540‌

3,496‌

AthenaHealth

Group

Inc

6.50%,

02/15/2030

(f)

5,180‌

4,291‌

Avaya

Inc

6.13%,

09/15/2028

(f)

1,275‌

389‌

Black

Knight

InfoServ

LLC

3.63%,

09/01/2028

(f)

1,315‌

1,170‌

Boxer

Parent

Co

Inc

7.13%,

10/02/2025

(f)

920‌

911‌

9.13%,

03/01/2026

(f)

950‌

903‌

Camelot

Finance

SA

4.50%,

11/01/2026

(f)

705‌

671‌

Castle

US

Holding

Corp

9.50%,

02/15/2028

(f)

325‌

124‌

Central

Parent

Inc

/

CDK

Global

Inc

7.25%,

06/15/2029

(f)

800‌

798‌

Clarivate

Science

Holdings

Corp

3.88%,

07/01/2028

(f)

8,225‌

7,339‌

4.88%,

07/01/2029

(f)

9,646‌

8,487‌

Cloud

Software

Group

Holdings

Inc

6.50%,

03/31/2029

(f)

4,655‌

4,085‌

Consensus

Cloud

Solutions

Inc

6.00%,

10/15/2026

(f)

350‌

334‌

6.50%,

10/15/2028

(f)

517‌

484‌

CWT

Travel

Group

Inc

8.50%,

11/19/2026

(f)

7,495‌

6,314‌

Dun

&

Bradstreet

Corp/The

5.00%,

12/15/2029

(f)

395‌

350‌

Elastic

NV

4.13%,

07/15/2029

(f)

950‌

813‌

Fair

Isaac

Corp

4.00%,

06/15/2028

(f)

1,262‌

1,172‌

5.25%,

05/15/2026

(f)

495‌

491‌

Helios

Software

Holdings

Inc

/

ION

Corporate

Solutions

Finance

Sarl

4.63%,

05/01/2028

(f)

825‌

663‌

MSCI

Inc

3.25%,

08/15/2033

(f)

1,075‌

881‌

3.63%,

09/01/2030

(f)

960‌

836‌

3.63%,

11/01/2031

(f)

1,000‌

855‌

3.88%,

02/15/2031

(f)

1,410‌

1,244‌

4.00%,

11/15/2029

(f)

1,545‌

1,406‌

Open

Text

Corp

3.88%,

02/15/2028

(f)

1,635‌

1,421‌

3.88%,

12/01/2029

(f)

600‌

499‌

Open

Text

Holdings

Inc

4.13%,

02/15/2030

(f)

1,535‌

1,293‌

4.13%,

12/01/2031

(f)

845‌

687‌

Playtika

Holding

Corp

4.25%,

03/15/2029

(f)

13,998‌

11,615‌

PTC

Inc

3.63%,

02/15/2025

(f)

220‌

211‌

4.00%,

02/15/2028

(f)

511‌

476‌

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

94

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Software

(continued)

Rackspace

Technology

Global

Inc

3.50%,

02/15/2028

(f)

$

715‌

$

430‌

5.38%,

12/01/2028

(f)

320‌

118‌

ROBLOX

Corp

3.88%,

05/01/2030

(f)

1,000‌

844‌

RRD

Parent

Inc

10.00%,

PIK

10.00%;

10/15/2031

(f),(h),(i)

1,027‌

1,747‌

Skillz

Inc

10.25%,

12/15/2026

(f)

300‌

203‌

SS&C

Technologies

Inc

5.50%,

09/30/2027

(f)

19,140‌

18,408‌

Twilio

Inc

3.63%,

03/15/2029

336‌

285‌

3.88%,

03/15/2031

6,682‌

5,516‌

Veritas

US

Inc

/

Veritas

Bermuda

Ltd

7.50%,

09/01/2025

(f)

1,930‌

1,273‌

ZoomInfo

Technologies

LLC/ZoomInfo

Finance

Corp

3.88%,

02/01/2029

(f)

6,854‌

5,911‌

$

99,444‌

Telecommunications

-

4

.23

%

Altice

France

Holding

SA

6.00%,

02/15/2028

(f)

1,210‌

816‌

10.50%,

05/15/2027

(f)

2,050‌

1,760‌

Altice

France

SA/France

5.13%,

01/15/2029

(f)

523‌

410‌

5.13%,

07/15/2029

(f)

2,740‌

2,151‌

5.50%,

01/15/2028

(f)

1,500‌

1,246‌

5.50%,

10/15/2029

(f)

2,160‌

1,708‌

8.13%,

02/01/2027

(f)

2,085‌

1,955‌

British

Telecommunications

PLC

4.25%,

11/23/2081

(f),(j)

900‌

805‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.99%

4.88%,

11/23/2081

(f),(j)

1,020‌

841‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.49%

Ciena

Corp

4.00%,

01/31/2030

(f)

300‌

262‌

CommScope

Inc

4.75%,

09/01/2029

(f)

8,489‌

7,066‌

6.00%,

03/01/2026

(f)

925‌

886‌

7.13%,

07/01/2028

(f)

1,675‌

1,312‌

8.25%,

03/01/2027

(f)

2,540‌

2,160‌

CommScope

Technologies

LLC

5.00%,

03/15/2027

(f)

1,060‌

809‌

6.00%,

06/15/2025

(f)

9,840‌

9,319‌

Connect

Finco

SARL

/

Connect

US

Finco

LLC

6.75%,

10/01/2026

(f)

2,390‌

2,285‌

Consolidated

Communications

Inc

6.50%,

10/01/2028

(f)

500‌

407‌

Embarq

Corp

8.00%,

06/01/2036

1,828‌

882‌

Frontier

Communications

Holdings

LLC

5.00%,

05/01/2028

(f)

1,480‌

1,346‌

5.88%,

10/15/2027

(f)

1,360‌

1,299‌

5.88%,

11/01/2029

500‌

408‌

6.00%,

01/15/2030

(f)

1,020‌

838‌

6.75%,

05/01/2029

(f)

1,365‌

1,170‌

8.75%,

05/15/2030

(f)

800‌

829‌

Frontier

Florida

LLC

6.86%,

02/01/2028

740‌

687‌

Frontier

North

Inc

6.73%,

02/15/2028

100‌

92‌

GoTo

Group

Inc

5.50%,

09/01/2027

(f)

910‌

458‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Telecommunications

(continued)

Hughes

Satellite

Systems

Corp

5.25%,

08/01/2026

$

1,140‌

$

1,104‌

6.63%,

08/01/2026

1,295‌

1,252‌

Iliad

Holding

SASU

6.50%,

10/15/2026

(f)

1,660‌

1,572‌

7.00%,

10/15/2028

(f)

5,035‌

4,728‌

Intelsat

Jackson

Holdings

SA

6.50%,

03/15/2030

(f)

2,891‌

2,625‌

Intrado

Corp

8.50%,

10/15/2025

(f)

776‌

695‌

Level

3

Financing

Inc

3.40%,

03/01/2027

(f)

995‌

861‌

3.63%,

01/15/2029

(f)

1,400‌

1,042‌

3.75%,

07/15/2029

(f)

1,540‌

1,126‌

3.88%,

11/15/2029

(f)

995‌

807‌

4.25%,

07/01/2028

(f)

5,359‌

4,247‌

4.63%,

09/15/2027

(f)

1,722‌

1,459‌

Lumen

Technologies

Inc

4.00%,

02/15/2027

(f)

861‌

726‌

4.50%,

01/15/2029

(f)

1,130‌

760‌

5.38%,

06/15/2029

(f),(g)

570‌

395‌

7.60%,

09/15/2039

667‌

450‌

7.65%,

03/15/2042

580‌

385‌

Maxar

Technologies

Inc

7.75%,

06/15/2027

(f)

500‌

523‌

Nokia

Oyj

4.38%,

06/12/2027

410‌

394‌

6.63%,

05/15/2039

573‌

584‌

Sprint

Capital

Corp

6.88%,

11/15/2028

3,321‌

3,553‌

8.75%,

03/15/2032

2,723‌

3,363‌

Sprint

LLC

7.13%,

06/15/2024

2,133‌

2,178‌

7.63%,

02/15/2025

2,209‌

2,293‌

7.63%,

03/01/2026

2,306‌

2,439‌

Telecom

Italia

Capital

SA

6.00%,

09/30/2034

799‌

641‌

6.38%,

11/15/2033

1,129‌

960‌

7.20%,

07/18/2036

972‌

826‌

7.72%,

06/04/2038

800‌

690‌

Telecom

Italia

SpA/Milano

5.30%,

05/30/2024

(f)

1,380‌

1,339‌

Telesat

Canada

/

Telesat

LLC

4.88%,

06/01/2027

(f)

144‌

71‌

5.63%,

12/06/2026

(f)

789‌

364‌

6.50%,

10/15/2027

(f)

373‌

104‌

United

States

Cellular

Corp

6.70%,

12/15/2033

500‌

465‌

Viasat

Inc

5.63%,

09/15/2025

(f)

13,680‌

12,859‌

5.63%,

04/15/2027

(f)

2,562‌

2,389‌

6.50%,

07/15/2028

(f)

7,466‌

5,992‌

Viavi

Solutions

Inc

3.75%,

10/01/2029

(f)

915‌

798‌

Vmed

O2

UK

Financing

I

PLC

4.25%,

01/31/2031

(f)

1,665‌

1,390‌

4.75%,

07/15/2031

(f)

11,860‌

10,082‌

Vodafone

Group

PLC

3.25%,

06/04/2081

(j)

337‌

292‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.45%

4.13%,

06/04/2081

(j)

1,432‌

1,159‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

2.77%

5.13%,

06/04/2081

(j)

1,000‌

769‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

3.07%

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

95

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Telecommunications

(continued)

Vodafone

Group

PLC  

(continued)

7.00%,

04/04/2079

(j)

$

2,535‌

$

2,611‌

USD

Swap

Semi-Annual

5

Year

+

4.87%

Windstream

Escrow

LLC

/

Windstream

Escrow

Finance

Corp

7.75%,

08/15/2028

(f)

1,420‌

1,150‌

Zayo

Group

Holdings

Inc

4.00%,

03/01/2027

(f)

1,225‌

974‌

6.13%,

03/01/2028

(f)

1,535‌

1,055‌

$

130,748‌

Toys,

Games

&

Hobbies

-

0

.08

%

Mattel

Inc

3.38%,

04/01/2026

(f)

900‌

839‌

3.75%,

04/01/2029

(f)

600‌

539‌

5.45%,

11/01/2041

295‌

253‌

5.88%,

12/15/2027

(f)

660‌

658‌

6.20%,

10/01/2040

195‌

181‌

$

2,470‌

Transportation

-

0

.10

%

Cargo

Aircraft

Management

Inc

4.75%,

02/01/2028

(f)

645‌

583‌

First

Student

Bidco

Inc

/

First

Transit

Parent

Inc

4.00%,

07/31/2029

(f)

300‌

250‌

Seaspan

Corp

5.50%,

08/01/2029

(f)

283‌

215‌

Watco

Cos

LLC

/

Watco

Finance

Corp

6.50%,

06/15/2027

(f)

715‌

675‌

Western

Global

Airlines

LLC

10.38%,

08/15/2025

(f)

345‌

241‌

XPO

CNW

Inc

6.70%,

05/01/2034

838‌

756‌

XPO

Escrow

Sub

LLC

7.50%,

11/15/2027

(f)

300‌

308‌

$

3,028‌

Trucking

&

Leasing

-

0

.10

%

AerCap

Global

Aviation

Trust

6.50%,

06/15/2045

(f),(j)

400‌

391‌

3

Month

USD

LIBOR

+

4.30%

Fortress

Transportation

and

Infrastructure

Investors

LLC

5.50%,

05/01/2028

(f)

970‌

854‌

6.50%,

10/01/2025

(f)

886‌

858‌

9.75%,

08/01/2027

(f)

825‌

848‌

$

2,951‌

TOTAL

BONDS

$

2,670,444‌

SENIOR

FLOATING

RATE

INTERESTS

-

8

.93

%

Principal

Amount

(000's)

Value

(000's)

Advertising

-

0

.06

%

ABG

Intermediate

Holdings

2

LLC

10.42%,

12/20/2029

(n)

$

1,910‌

$

1,749‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.00%

Automobile

Parts

&

Equipment

-

0

.41

%

First

Brands

Group

LLC

8.37%,

03/24/2027

(n)

7,805‌

7,621‌

CME

Term

Secured

Overnight

Financing

Rate

6

Month

+

5.00%

11.87%,

03/24/2028

(n)

5,625‌

5,059‌

6

Month

USD

LIBOR

+

8.50%

$

12,680‌

Building

Materials

-

0

.30

%

CP

Iris

Holdco

I

Inc

11.38%,

09/15/2029

(n)

5,920‌

4,736‌

1

Month

USD

LIBOR

+

7.00%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Building

Materials

(continued)

Generation

Brands

11.13%,

06/29/2029

(n)

$

2,670‌

$

2,163‌

3

Month

USD

LIBOR

+

6.75%

11.13%,

06/29/2029

(n)

2,900‌

2,349‌

3

Month

USD

LIBOR

+

6.75%

$

9,248‌

Chemicals

-

0

.40

%

Aruba

Investments

Holdings

LLC

12.46%,

10/27/2028

(n)

7,275‌

6,535‌

1

Month

USD

LIBOR

+

7.75%

Cpc

Acquisition

Corp

12.48%,

01/12/2029

(n)

9,545‌

5,775‌

3

Month

USD

LIBOR

+

7.75%

$

12,310‌

Commercial

Services

-

0

.86

%

KUEHG

Corp

8.48%,

02/21/2025

(n)

2,268‌

2,205‌

1

Month

USD

LIBOR

+

3.75%

12.98%,

08/22/2025

(n)

12,738‌

12,046‌

3

Month

USD

LIBOR

+

8.25%

Learning

Care

Group

US

No

2

Inc

7.98%,

03/13/2025

(n)

1,728‌

1,583‌

3

Month

USD

LIBOR

+

3.25%

12.19%,

03/13/2026

(n)

6,500‌

5,541‌

3

Month

USD

LIBOR

+

7.50%

13.27%,

03/13/2025

(n)

1,197‌

1,173‌

1

Month

USD

LIBOR

+

8.50%

RLG

Holdings

LLC

11.88%,

07/06/2029

(n)

4,310‌

4,019‌

1

Month

USD

LIBOR

+

7.50%

$

26,567‌

Distribution

&

Wholesale

-

0

.17

%

Infinite

Bidco

LLC

11.73%,

02/24/2029

(n)

5,910‌

5,289‌

3

Month

USD

LIBOR

+

7.00%

Engineering

&

Construction

-

0

.48

%

Brand

Industrial

Services

Inc

9.06%,

06/21/2024

(n)

11,125‌

10,364‌

3

Month

USD

LIBOR

+

4.25%

KKR

Apple

Bidco

LLC

10.13%,

09/23/2029

(n)

4,722‌

4,628‌

3

Month

USD

LIBOR

+

5.75%

$

14,992‌

Entertainment

-

0

.16

%

NAI

Entertainment

Holdings

LLC

6.89%,

05/08/2025

(n)

5,231‌

4,970‌

3

Month

USD

LIBOR

+

2.50%

Healthcare

-

Services

-

0

.87

%

Aveanna

Healthcare

LLC

11.71%,

12/09/2029

(n)

9,190‌

5,882‌

1

Month

USD

LIBOR

+

7.00%

Eyecare

Partners

LLC

8.79%,

11/15/2028

(n)

2,220‌

1,870‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.50%

11.48%,

10/14/2029

(n)

5,540‌

4,475‌

3

Month

USD

LIBOR

+

6.75%

11.48%,

10/14/2029

(n)

1,975‌

1,596‌

3

Month

USD

LIBOR

+

6.75%

LifePoint

Health

Inc

8.16%,

11/17/2025

(n)

2,075‌

2,013‌

1

Month

USD

LIBOR

+

3.75%

Medical

Solutions

Holdings

Inc

11.38%,

10/05/2029

(n)

5,510‌

5,042‌

1

Month

USD

LIBOR

+

7.00%

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

96

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Healthcare

-

Services

(continued)

National

Mentor

Holdings

Inc

11.98%,

03/02/2029

(n)

$

3,475‌

$

2,241‌

3

Month

USD

LIBOR

+

7.25%

Sound

Inpatient

Physicians

Holdings

LLC

11.13%,

06/26/2026

(n)

4,875‌

3,754‌

1

Month

USD

LIBOR

+

6.75%

$

26,873‌

Home

Builders

-

0

.17

%

Tecta

America

Corp

12.94%,

04/09/2029

(n)

5,875‌

5,434‌

3

Month

USD

LIBOR

+

8.50%

Insurance

-

1

.26

%

Asurion

LLC

7.38%,

11/03/2024

(n)

4,843‌

4,788‌

1

Month

USD

LIBOR

+

3.00%

9.63%,

01/31/2028

(n)

15,800‌

13,122‌

1

Month

USD

LIBOR

+

5.25%

9.63%,

01/20/2029

(n)

13,101‌

10,931‌

1

Month

USD

LIBOR

+

5.25%

9.63%,

01/20/2029

(n)

12,025‌

10,033‌

1

Month

USD

LIBOR

+

5.25%

$

38,874‌

Internet

-

0

.88

%

CNT

Holdings

I

Corp

11.38%,

11/06/2028

(n)

7,739‌

7,397‌

1

Month

USD

LIBOR

+

6.75%

MH

Sub

I

LLC

10.65%,

02/12/2029

(n)

10,480‌

9,416‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.25%

Ten-X

LLC

10.50%,

09/29/2024

(n)

10,866‌

10,386‌

3

Month

USD

LIBOR

+

4.00%

$

27,199‌

Investment

Companies

-

0

.59

%

Nexus

Buyer

LLC

10.63%,

11/05/2029

(n)

16,395‌

15,111‌

3

Month

USD

LIBOR

+

6.25%

Zest

Acquisition

Corp

11.73%,

03/06/2026

(n)

3,226‌

3,206‌

3

Month

USD

LIBOR

+

7.50%

$

18,317‌

Machinery

-

Diversified

-

0

.56

%

Engineered

Machinery

Holdings

Inc

10.73%,

05/21/2029

(n)

17,631‌

15,956‌

3

Month

USD

LIBOR

+

6.00%

11.23%,

05/04/2029

(n)

1,610‌

1,454‌

3

Month

USD

LIBOR

+

6.50%

$

17,410‌

Mining

-

0

.18

%

Artic

Canadian

Diamond

Co

Ltd

5.00%,

PIK

12.50%,

12/31/2027

(e),(i),(n)

5,657‌

5,657‌

1

Month

USD

LIBOR

+

5.00%

Semiconductors

-

0

.09

%

Altar

Bidco

Inc

10.51%,

02/01/2030

(n)

3,040‌

2,668‌

CME

Term

Secured

Overnight

Financing

Rate

6

Month

+

5.60%

Software

-

1

.22

%

Applied

Systems

Inc

4.55%,

09/19/2027

(n)

14,341‌

14,305‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.75%

Ascend

Learning

LLC

4.57%,

12/10/2029

(n)

1,050‌

908‌

1

Month

USD

LIBOR

+

5.75%

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Software

(continued)

Cloudera

Inc

10.38%,

10/08/2029

(n)

$

1,790‌

$

1,571‌

1

Month

USD

LIBOR

+

6.00%

Loyalty

Ventures

Inc

8.88%,

11/03/2027

(n)

3,493‌

1,354‌

1

Month

USD

LIBOR

+

4.50%

Mitchell

International

Inc

11.23%,

10/15/2029

(n)

5,150‌

4,387‌

1

Month

USD

LIBOR

+

6.50%

Skopima

Consilio

Parent

LLC

11.88%,

05/14/2029

(n)

4,920‌

4,379‌

1

Month

USD

LIBOR

+

7.50%

UKG

Inc

10.03%,

05/03/2027

(n)

11,550‌

11,011‌

3

Month

USD

LIBOR

+

5.25%

$

37,915‌

Telecommunications

-

0

.12

%

Xplornet

Communications

Inc

11.38%,

09/30/2029

(n)

6,100‌

3,599‌

1

Month

USD

LIBOR

+

7.00%

Transportation

-

0

.15

%

ASP

LS

Acquisition

Corp

12.23%,

04/30/2029

(n)

7,320‌

4,538‌

6

Month

USD

LIBOR

+

7.50%

TOTAL

SENIOR

FLOATING

RATE

INTERESTS

$

276,289‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

1

.07

%

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

Bill

-

1

.07

%

4.00%,

02/16/2023

(o)

$

7,250‌

$

7,237‌

4.43%,

03/14/2023

(o)

13,075‌

13,009‌

4.56%,

04/13/2023

(o)

13,050‌

12,933‌

$

33,179‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

33,179‌

Total

Investments

$

3,102,185‌

Other

Assets

and

Liabilities

-  (0.33)%

(

10,315‌

)

TOTAL

NET

ASSETS

-

100.00%

$

3,091,870‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$40,506

or

1.31%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(f)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,079,956

or

67.27%

of

net

assets.

(g)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$38,889

or

1.26%

of

net

assets.

(h)

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(i)

Payment

in

kind;

the

issuer

has

the

option

of

paying

additional

securities

in

lieu

of

cash.

(j)

Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(k)

Restricted

Security.

Please

see

Restricted

Securities

sub-schedule

for

additional

information.

Schedule

of

Investments

High

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

97

(l)

Security

purchased

on

a

when-issued

basis.

(m)

Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(n)

Rate

information

disclosed

is

based

on

an

average

weighted

rate

of

the

underlying

tranches

as

of

period

end.

(o)

Rate

shown

is

the

discount

rate

of

the

original

purchase.

Portfolio

Summary  (unaudited)

Sector

Percent

Consumer,

Cyclical

21

.13‌

%

Communications

13

.95‌

%

Consumer,

Non-cyclical

13

.56‌

%

Financial

12

.43‌

%

Industrial

11

.75‌

%

Energy

11

.19‌

%

Technology

5

.60‌

%

Basic

Materials

5

.06‌

%

Money

Market

Funds

3

.42‌

%

Utilities

1

.12‌

%

Government

1

.07‌

%

Diversified

0

.05‌

%

Other

Assets

and

Liabilities

(

0

.33‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

291,822‌

$

195,062‌

$

96,760‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

66,206‌

236,293‌

302,499‌

—‌

$

66,206‌

$

528,115‌

$

497,561‌

$

96,760‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

350‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

195‌

—‌

—‌

—‌

$

545‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Restricted

Securities

Security

Name

Acquisition

Date

Cost

Value

Percent

of

Net

Assets

High

Ridge

Brands

-

Escrow  

0.00%,

03/15/2025

12/29/2020

$

4,632‌

$

55‌

0.00%

Real

Alloy

Holding

Inc  

14.73%,

05/31/2025

05/31/2018-06/30/2020

4,258‌

4,258‌

0.14%

Specialty

Steel  

15.14%,

11/15/2026

06/04/2021

8,680‌

8,680‌

0.28%

SportsNet

New

York  

10.25%,

01/15/2025

12/27/2017

4,068‌

4,047‌

0.13%

Total

$

17,040‌

0.55%

Amounts

in

thousands.

Exchange

Cleared

Credit

Default

Swaps

Sell

Protection

Reference

Entity

Implied

Credit

Spread

as

of

January

31,

2023

(a)

(Pay)/

Receive

Fixed

Rate

Payment

Frequency

Maturity

Date

Notional

Amount

(b)

Upfront

Payments/

(Receipts)

Unrealized

Appreciation/

(Depreciation)

Fair

Value

(c)

CDX.NA.HY.39

N/A

5.00%

Annual

12/20/2027

$

16,700‌

$

100‌

$

342‌

$

442‌

Total

$

100‌

$

342‌

$

442‌

Amounts

in

thousands.

(a)

Implied

credit

spreads,

represented

in

absolute

terms,

used

in

determining

the

market

value

of

credit

default

swap

agreements

on

corporate

issues

or

sovereign

issues

as

of

period

end

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

likelihood

or

risk

of

default

for

the

credit

derivative.

The

implied

credit

spread

of

a

particular

referenced

entity

reflects

the

cost

of

buying/selling

protection

and

may

include

upfront

payments

required

to

be

made

to

enter

into

the

agreement.

Wider

credit

spreads

represent

a

deterioration

of

the

referenced

entity's

credit

soundness

and

a

greater

likelihood

or

risk

of

default

or

other

credit

event

occurring

as

defined

under

the

terms

of

the

agreement.

(b)

The

maximum

potential

payment

amount

that

the

seller

of

credit

protection

could

be

required

to

make

if

a

credit

event

occurs

as

defined

under

the

terms

of

that

particular

swap

agreement

is

$16,700.

(c)

The

market

price

and

resulting

market

value

for

credit

default

swap

agreements

on

an

issuer

serve

as

an

indicator

of

the

current

status

of

the

payment/performance

risk

and

represent

the

likelihood

of

an

expected

liability

(or

profit)

for

the

credit

default

swap

as

of

the

period

end.

Increasing

market

values

of

the

swap,

in

absolute

terms,

when

compared

to

the

notional

amount

of

the

swap,

represent

a

deterioration

of

the

referenced

entity's

credit

soundness

and

a

greater

likelihood

or

risk

of

default

or

other

credit

event

occurring

as

defined

under

the

terms

of

the

agreement.

Schedule

of

Investments

High

Yield

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

98

INVESTMENT

COMPANIES

-

4

.44

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

4

.44

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

3,075,387‌

$

3,076‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b),(c)

99,113,497‌

99,113‌

$

102,189‌

TOTAL

INVESTMENT

COMPANIES

$

102,189‌

COMMON

STOCKS

-

0

.10

%

Shares

Held

Value

(000's)

Diversified

Financial

Services

-

0

.00

%

Avation

PLC

-

Warrants

(d)

103,250‌

$

25‌

Oil

&

Gas

-

0

.02

%

Mesquite

Energy

Inc

(d),(e)

15,341‌

386‌

Retail

-

0

.08

%

Claire's

Holdings

LLC

(d)

4,036‌

1,850‌

TOTAL

COMMON

STOCKS

$

2,261‌

BONDS

-

87

.46

%

Principal

Amount

(000's)

Value

(000's)

Aerospace

&

Defense

-

2

.29

%

Bombardier

Inc

7.13%,

06/15/2026

(f)

$

7,890‌

$

7,871‌

7.50%,

03/15/2025

(f)

6,338‌

6,346‌

7.50%,

02/01/2029

(f)

2,415‌

2,413‌

TransDigm

Inc

4.88%,

05/01/2029

2,980‌

2,689‌

6.25%,

03/15/2026

(f)

12,880‌

12,875‌

6.38%,

06/15/2026

3,495‌

3,451‌

7.50%,

03/15/2027

3,875‌

3,905‌

Triumph

Group

Inc

7.75%,

08/15/2025

11,930‌

10,134‌

8.88%,

06/01/2024

(f)

2,858‌

2,901‌

$

52,585‌

Airlines

-

0

.86

%

American

Airlines

2015-1

Class

B

Pass

Through

Trust

3.70%,

11/01/2024

977‌

969‌

American

Airlines

2021-1

Class

B

Pass

Through

Trust

3.95%,

01/11/2032

2,994‌

2,522‌

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd

5.75%,

04/20/2029

(f)

1,525‌

1,475‌

Hawaiian

Brand

Intellectual

Property

Ltd

/

HawaiianMiles

Loyalty

Ltd

5.75%,

01/20/2026

(f)

12,095‌

11,550‌

United

Airlines

2016-1

Class

B

Pass

Through

Trust

3.65%,

07/07/2027

3,520‌

3,248‌

$

19,764‌

Automobile

Manufacturers

-

1

.99

%

Ford

Motor

Co

3.25%,

02/12/2032

15,575‌

12,361‌

4.75%,

01/15/2043

3,650‌

2,849‌

9.63%,

04/22/2030

1,225‌

1,442‌

Ford

Motor

Credit

Co

LLC

2.70%,

08/10/2026

3,455‌

3,084‌

3.38%,

11/13/2025

4,735‌

4,410‌

4.39%,

01/08/2026

9,460‌

9,080‌

4.54%,

08/01/2026

9,495‌

9,013‌

Jaguar

Land

Rover

Automotive

PLC

5.63%,

02/01/2023

(f)

3,524‌

3,524‌

$

45,763‌

Automobile

Parts

&

Equipment

-

1

.23

%

American

Axle

&

Manufacturing

Inc

6.25%,

03/15/2026

2,239‌

2,099‌

6.88%,

07/01/2028

(g)

9,835‌

8,950‌

Dana

Inc

4.25%,

09/01/2030

4,845‌

4,100‌

4.50%,

02/15/2032

1,810‌

1,527‌

5.38%,

11/15/2027

8,700‌

8,267‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Automobile

Parts

&

Equipment

(continued)

Dana

Inc  

(continued)

5.63%,

06/15/2028

$

3,465‌

$

3,263‌

$

28,206‌

Banks

-

1

.49

%

Barclays

PLC

5.09%,

06/20/2030

(h)

5,330‌

5,113‌

3

Month

USD

LIBOR

+

3.05%

7.75%,

09/15/2023

(h),(i),(j)

6,795‌

6,744‌

USD

Swap

Semi-Annual

5

Year

+

4.84%

8.00%,

03/15/2029

(h),(i),(j)

5,535‌

5,558‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.43%

Deutsche

Bank

AG

4.30%,

05/24/2028

(h)

6,145‌

6,007‌

USD

Swap

Semi-Annual

5

Year

+

2.25%

JPMorgan

Chase

&

Co

4.60%,

02/01/2025

(h),(i)

11,640‌

10,941‌

Secured

Overnight

Financing

Rate

+

3.13%

$

34,363‌

Building

Materials

-

1

.70

%

Builders

FirstSource

Inc

4.25%,

02/01/2032

(f)

3,610‌

3,105‌

5.00%,

03/01/2030

(f)

4,065‌

3,790‌

Griffon

Corp

5.75%,

03/01/2028

12,075‌

11,428‌

MIWD

Holdco

II

LLC

/

MIWD

Finance

Corp

5.50%,

02/01/2030

(f)

1,900‌

1,580‌

Smyrna

Ready

Mix

Concrete

LLC

6.00%,

11/01/2028

(f)

20,925‌

19,105‌

$

39,008‌

Chemicals

-

2

.55

%

Consolidated

Energy

Finance

SA

5.63%,

10/15/2028

(f)

9,180‌

7,987‌

6.50%,

05/15/2026

(f)

8,390‌

7,787‌

Element

Solutions

Inc

3.88%,

09/01/2028

(f)

11,343‌

10,039‌

Kobe

US

Midco

2

Inc

9.25%,

PIK

10.00%;

11/01/2026

(f),(k),(l)

2,790‌

2,121‌

Olympus

Water

US

Holding

Corp

4.25%,

10/01/2028

(f)

600‌

503‌

6.25%,

10/01/2029

(f)

17,680‌

14,674‌

7.13%,

10/01/2027

(f)

1,945‌

1,906‌

Tronox

Inc

4.63%,

03/15/2029

(f)

8,985‌

7,682‌

Vibrantz

Technologies

Inc

9.00%,

02/15/2030

(f)

7,590‌

5,849‌

$

58,548‌

Commercial

Services

-

3

.39

%

ADT

Security

Corp/The

4.13%,

08/01/2029

(f)

5,865‌

5,221‌

Albion

Financing

1

SARL

/

Aggreko

Holdings

Inc

6.13%,

10/15/2026

(f)

2,300‌

2,064‌

Albion

Financing

2SARL

8.75%,

04/15/2027

(f)

8,965‌

7,598‌

Garda

World

Security

Corp

6.00%,

06/01/2029

(f)

6,730‌

5,618‌

9.50%,

11/01/2027

(f)

6,486‌

6,406‌

Prime

Security

Services

Borrower

LLC

/

Prime

Finance

Inc

3.38%,

08/31/2027

(f)

3,240‌

2,875‌

6.25%,

01/15/2028

(f)

10,260‌

9,731‌

United

Rentals

North

America

Inc

3.88%,

02/15/2031

5,775‌

5,082‌

4.88%,

01/15/2028

2,815‌

2,726‌

5.25%,

01/15/2030

1,775‌

1,717‌

WASH

Multifamily

Acquisition

Inc

5.75%,

04/15/2026

(f)

13,945‌

12,867‌

Schedule

of

Investments

High

Yield

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

99

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Services

(continued)

Williams

Scotsman

International

Inc

4.63%,

08/15/2028

(f)

$

2,180‌

$

2,020‌

6.13%,

06/15/2025

(f)

3,890‌

3,909‌

ZipRecruiter

Inc

5.00%,

01/15/2030

(f)

11,631‌

10,119‌

$

77,953‌

Computers

-

1

.41

%

NCR

Corp

5.13%,

04/15/2029

(f)

21,160‌

18,431‌

Seagate

HDD

Cayman

9.63%,

12/01/2032

(f)

5,115‌

5,792‌

Virtusa

Corp

7.13%,

12/15/2028

(f)

9,857‌

8,280‌

$

32,503‌

Consumer

Products

-

1

.00

%

ACCO

Brands

Corp

4.25%,

03/15/2029

(f)

13,355‌

11,553‌

Kronos

Acquisition

Holdings

Inc

/

KIK

Custom

Products

Inc

5.00%,

12/31/2026

(f)

12,596‌

11,434‌

$

22,987‌

Distribution

&

Wholesale

-

0

.26

%

H&E

Equipment

Services

Inc

3.88%,

12/15/2028

(f)

6,805‌

5,989‌

Diversified

Financial

Services

-

3

.04

%

AerCap

Holdings

NV

5.88%,

10/10/2079

(h)

11,870‌

11,369‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

4.54%

Credit

Acceptance

Corp

5.13%,

12/31/2024

(f)

7,105‌

6,635‌

6.63%,

03/15/2026

(g)

4,620‌

4,227‌

Global

Aircraft

Leasing

Co

Ltd

6.50%,

PIK

7.25%;

09/15/2024

(f),(k),(l)

12,628‌

11,524‌

LPL

Holdings

Inc

4.00%,

03/15/2029

(f)

12,725‌

11,389‌

OneMain

Finance

Corp

4.00%,

09/15/2030

6,460‌

5,152‌

6.63%,

01/15/2028

7,265‌

7,078‌

6.88%,

03/15/2025

11,790‌

11,753‌

SLM

Corp

3.13%,

11/02/2026

780‌

689‌

$

69,816‌

Electric

-

2

.17

%

Clearway

Energy

Operating

LLC

3.75%,

02/15/2031

(f)

12,500‌

10,560‌

Elwood

Energy

LLC

8.16%,

07/05/2026

1,535‌

1,343‌

NRG

Energy

Inc

3.88%,

02/15/2032

(f)

20,900‌

16,268‌

Pattern

Energy

Operations

LP

/

Pattern

Energy

Operations

Inc

4.50%,

08/15/2028

(f)

6,210‌

5,698‌

Vistra

Corp

7.00%,

12/15/2026

(f),(h),(i)

6,420‌

6,003‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

5

Year

+

5.74%

Vistra

Operations

Co

LLC

4.38%,

05/01/2029

(f)

11,405‌

10,029‌

$

49,901‌

Electrical

Components

&

Equipment

-

0

.27

%

WESCO

Distribution

Inc

7.25%,

06/15/2028

(f)

6,165‌

6,317‌

Electronics

-

1

.64

%

Imola

Merger

Corp

4.75%,

05/15/2029

(f)

13,468‌

11,717‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electronics

(continued)

Sensata

Technologies

BV

4.00%,

04/15/2029

(f)

$

13,550‌

$

12,161‌

5.00%,

10/01/2025

(f)

6,405‌

6,335‌

Sensata

Technologies

Inc

3.75%,

02/15/2031

(f)

6,126‌

5,200‌

4.38%,

02/15/2030

(f)

2,440‌

2,209‌

$

37,622‌

Engineering

&

Construction

-

1

.01

%

Global

Infrastructure

Solutions

Inc

5.63%,

06/01/2029

(f)

13,742‌

11,268‌

MasTec

Inc

4.50%,

08/15/2028

(f)

13,010‌

12,060‌

$

23,328‌

Entertainment

-

4

.33

%

Boyne

USA

Inc

4.75%,

05/15/2029

(f)

13,360‌

12,105‌

Caesars

Entertainment

Inc

6.25%,

07/01/2025

(f)

5,825‌

5,803‌

8.13%,

07/01/2027

(f),(g)

11,770‌

11,947‌

CCM

Merger

Inc

6.38%,

05/01/2026

(f)

10,835‌

10,483‌

CDI

Escrow

Issuer

Inc

5.75%,

04/01/2030

(f)

14,690‌

13,919‌

Cinemark

USA

Inc

5.25%,

07/15/2028

(f)

14,295‌

11,717‌

International

Game

Technology

PLC

5.25%,

01/15/2029

(f)

15,010‌

14,405‌

6.25%,

01/15/2027

(f)

2,030‌

2,030‌

6.50%,

02/15/2025

(f)

778‌

786‌

Lions

Gate

Capital

Holdings

LLC

5.50%,

04/15/2029

(f)

11,950‌

7,767‌

Scientific

Games

International

Inc

8.63%,

07/01/2025

(f)

8,360‌

8,517‌

$

99,479‌

Environmental

Control

-

0

.42

%

Madison

IAQ

LLC

4.13%,

06/30/2028

(f)

10,855‌

9,555‌

Food

-

3

.33

%

Albertsons

Cos

Inc

/

Safeway

Inc

/

New

Albertsons

LP

/

Albertsons

LLC

4.63%,

01/15/2027

(f)

13,875‌

13,154‌

B&G

Foods

Inc

5.25%,

04/01/2025

7,350‌

6,699‌

Chobani

LLC

/

Chobani

Finance

Corp

Inc

4.63%,

11/15/2028

(f)

6,445‌

5,881‌

7.50%,

04/15/2025

(f)

5,786‌

5,676‌

JBS

USA

LUX

SA

/

JBS

USA

Food

Co

/

JBS

USA

Finance

Inc

3.63%,

01/15/2032

(f)

13,470‌

11,253‌

Pilgrim's

Pride

Corp

3.50%,

03/01/2032

(f)

6,385‌

5,203‌

4.25%,

04/15/2031

(f)

13,680‌

11,867‌

Post

Holdings

Inc

4.50%,

09/15/2031

(f)

145‌

125‌

4.63%,

04/15/2030

(f)

19,034‌

16,750‌

$

76,608‌

Forest

Products

&

Paper

-

0

.41

%

Mercer

International

Inc

5.13%,

02/01/2029

5,855‌

5,007‌

Sappi

Papier

Holding

GmbH

7.50%,

06/15/2032

(f)

4,886‌

4,495‌

$

9,502‌

Healthcare

-

Services

-

4

.47

%

Acadia

Healthcare

Co

Inc

5.00%,

04/15/2029

(f)

12,235‌

11,441‌

Schedule

of

Investments

High

Yield

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

100

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Healthcare

-

Services

(continued)

Centene

Corp

2.50%,

03/01/2031

$

16,540‌

$

13,522‌

3.00%,

10/15/2030

1,820‌

1,556‌

3.38%,

02/15/2030

16,070‌

14,127‌

CHS/Community

Health

Systems

Inc

6.00%,

01/15/2029

(f)

21,686‌

19,035‌

HCA

Inc

3.50%,

09/01/2030

13,100‌

11,742‌

Molina

Healthcare

Inc

3.88%,

05/15/2032

(f)

2,950‌

2,473‌

4.38%,

06/15/2028

(f)

7,065‌

6,525‌

Tenet

Healthcare

Corp

6.13%,

10/01/2028

16,255‌

15,200‌

6.13%,

06/15/2030

(f)

6,620‌

6,426‌

6.25%,

02/01/2027

(f)

705‌

689‌

$

102,736‌

Home

Builders

-

1

.12

%

Century

Communities

Inc

3.88%,

08/15/2029

(f)

8,570‌

7,204‌

Forestar

Group

Inc

3.85%,

05/15/2026

(f)

4,390‌

3,912‌

5.00%,

03/01/2028

(f)

8,370‌

7,303‌

M/I

Homes

Inc

3.95%,

02/15/2030

8,655‌

7,281‌

$

25,700‌

Insurance

-

1

.65

%

Acrisure

LLC

/

Acrisure

Finance

Inc

4.25%,

02/15/2029

(f)

6,670‌

5,536‌

Voya

Financial

Inc

5.65%,

05/15/2053

(g),(h)

32,457‌

32,311‌

3

Month

USD

LIBOR

+

3.58%

$

37,847‌

Investment

Companies

-

0

.52

%

Compass

Group

Diversified

Holdings

LLC

5.25%,

04/15/2029

(f)

13,193‌

11,871‌

Iron

&

Steel

-

0

.69

%

Cleveland-Cliffs

Inc

4.63%,

03/01/2029

(f)

9,175‌

8,556‌

TMS

International

Corp/DE

6.25%,

04/15/2029

(f)

9,745‌

7,320‌

$

15,876‌

Leisure

Products

&

Services

-

2

.20

%

Carnival

Corp

4.00%,

08/01/2028

(f)

2,015‌

1,741‌

6.00%,

05/01/2029

(f)

6,395‌

5,052‌

Carnival

Holdings

Bermuda

Ltd

10.38%,

05/01/2028

(f)

8,817‌

9,523‌

Life

Time

Inc

5.75%,

01/15/2026

(f)

11,645‌

11,191‌

NCL

Corp

Ltd

5.88%,

02/15/2027

(f)

6,700‌

6,229‌

NCL

Finance

Ltd

6.13%,

03/15/2028

(f)

5,300‌

4,306‌

Royal

Caribbean

Cruises

Ltd

5.38%,

07/15/2027

(f)

7,685‌

6,685‌

8.25%,

01/15/2029

(f)

5,700‌

5,957‌

$

50,684‌

Lodging

-

0

.44

%

Sands

China

Ltd

3.75%,

08/08/2031

6,750‌

5,645‌

Wynn

Macau

Ltd

5.63%,

08/26/2028

(f)

5,130‌

4,519‌

$

10,164‌

Machinery

-

Diversified

-

0

.41

%

Maxim

Crane

Works

Holdings

Capital

LLC

10.13%,

08/01/2024

(f)

9,796‌

9,431‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

-

7

.16

%

AMC

Networks

Inc

4.75%,

08/01/2025

$

11,810‌

$

10,097‌

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp

4.50%,

08/15/2030

(f)

8,650‌

7,391‌

4.75%,

03/01/2030

(f)

20,950‌

18,306‌

4.75%,

02/01/2032

(f)

2,400‌

2,040‌

5.38%,

06/01/2029

(f)

9,270‌

8,575‌

CSC

Holdings

LLC

4.50%,

11/15/2031

(f)

3,000‌

2,209‌

6.50%,

02/01/2029

(f)

10,350‌

8,955‌

Directv

Financing

LLC

/

Directv

Financing

Co-

Obligor

Inc

5.88%,

08/15/2027

(f)

2,090‌

1,893‌

DISH

DBS

Corp

5.13%,

06/01/2029

2,385‌

1,516‌

5.25%,

12/01/2026

(f)

5,570‌

4,801‌

5.88%,

11/15/2024

7,250‌

6,843‌

7.38%,

07/01/2028

6,100‌

4,381‌

DISH

Network

Corp

11.75%,

11/15/2027

(f)

10,205‌

10,605‌

Gray

Escrow

II

Inc

5.38%,

11/15/2031

(f)

10,870‌

8,359‌

LCPR

Senior

Secured

Financing

DAC

5.13%,

07/15/2029

(f)

7,345‌

6,464‌

6.75%,

10/15/2027

(f)

8,622‌

8,400‌

Scripps

Escrow

II

Inc

5.38%,

01/15/2031

(f),(g)

13,090‌

10,564‌

Sirius

XM

Radio

Inc

4.00%,

07/15/2028

(f)

18,145‌

16,151‌

UPC

Holding

BV

5.50%,

01/15/2028

(f)

15,110‌

13,788‌

Ziggo

Bond

Co

BV

6.00%,

01/15/2027

(f)

9,295‌

8,791‌

Ziggo

BV

4.88%,

01/15/2030

(f)

5,305‌

4,621‌

$

164,750‌

Mining

-

3

.11

%

ACN

113

874

712

Pty

Ltd

0.00%,

02/15/2018

(d),(f)

10,457‌

11‌

Copper

Mountain

Mining

Corp

8.00%,

04/09/2026

(f)

5,327‌

5,247‌

First

Quantum

Minerals

Ltd

6.88%,

10/15/2027

(f)

4,790‌

4,643‌

7.50%,

04/01/2025

(f)

5,070‌

4,992‌

Hudbay

Minerals

Inc

4.50%,

04/01/2026

(f)

4,270‌

3,934‌

6.13%,

04/01/2029

(f)

9,010‌

8,320‌

IAMGOLD

Corp

5.75%,

10/15/2028

(f)

4,893‌

3,867‌

New

Gold

Inc

7.50%,

07/15/2027

(f)

12,690‌

11,774‌

Novelis

Corp

4.75%,

01/30/2030

(f)

13,640‌

12,344‌

Taseko

Mines

Ltd

7.00%,

02/15/2026

(f)

17,405‌

16,491‌

$

71,623‌

Oil

&

Gas

-

6

.20

%

Aethon

United

BR

LP

/

Aethon

United

Finance

Corp

8.25%,

02/15/2026

(f)

16,713‌

16,629‌

Antero

Resources

Corp

7.63%,

02/01/2029

(f)

5,782‌

5,913‌

8.38%,

07/15/2026

(f)

2,641‌

2,772‌

Apache

Corp

4.75%,

04/15/2043

3,345‌

2,648‌

5.10%,

09/01/2040

3,595‌

3,139‌

5.25%,

02/01/2042

6,670‌

5,603‌

Schedule

of

Investments

High

Yield

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

101

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Oil

&

Gas

(continued)

Ascent

Resources

Utica

Holdings

LLC

/

ARU

Finance

Corp

7.00%,

11/01/2026

(f)

$

11,135‌

$

10,613‌

Comstock

Resources

Inc

5.88%,

01/15/2030

(f)

4,300‌

3,687‌

6.75%,

03/01/2029

(f)

6,780‌

6,254‌

CrownRock

LP

/

CrownRock

Finance

Inc

5.00%,

05/01/2029

(f)

1,760‌

1,612‌

5.63%,

10/15/2025

(f)

9,575‌

9,336‌

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co

5.75%,

02/01/2029

(f)

8,135‌

7,566‌

6.00%,

02/01/2031

(f)

4,105‌

3,796‌

MEG

Energy

Corp

7.13%,

02/01/2027

(f)

10,885‌

11,165‌

Nabors

Industries

Inc

7.38%,

05/15/2027

(f)

5,390‌

5,397‌

Occidental

Petroleum

Corp

5.55%,

03/15/2026

14,105‌

14,247‌

6.13%,

01/01/2031

7,015‌

7,321‌

6.63%,

09/01/2030

7,720‌

8,196‌

Southwestern

Energy

Co

5.38%,

03/15/2030

3,595‌

3,348‌

7.75%,

10/01/2027

12,735‌

13,281‌

$

142,523‌

Oil

&

Gas

Services

-

0

.93

%

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp

6.25%,

04/01/2028

(f)

17,831‌

16,939‌

Enerflex

Ltd

9.00%,

10/15/2027

(f)

4,299‌

4,379‌

$

21,318‌

Packaging

&

Containers

-

3

.40

%

Ardagh

Packaging

Finance

PLC

/

Ardagh

Holdings

USA

Inc

4.13%,

08/15/2026

(f)

5,015‌

4,576‌

5.25%,

08/15/2027

(f)

4,725‌

3,869‌

5.25%,

08/15/2027

(f)

3,480‌

2,850‌

Canpack

SA

/

Canpack

US

LLC

3.13%,

11/01/2025

(f)

8,755‌

7,971‌

Cascades

Inc/Cascades

USA

Inc

5.38%,

01/15/2028

(f)

13,510‌

12,619‌

Clydesdale

Acquisition

Holdings

Inc

6.63%,

04/15/2029

(f)

1,910‌

1,878‌

8.75%,

04/15/2030

(f)

8,130‌

7,185‌

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp

VI

4.75%,

02/01/2026

3,505‌

3,424‌

Crown

Cork

&

Seal

Co

Inc

7.38%,

12/15/2026

13,099‌

13,683‌

LABL

Inc

5.88%,

11/01/2028

(f)

4,172‌

3,771‌

8.25%,

11/01/2029

(f)

3,985‌

3,342‌

Mauser

Packaging

Solutions

Holding

Co

5.50%,

04/15/2024

(f)

2,875‌

2,873‌

7.25%,

04/15/2025

(f)

3,925‌

3,832‌

7.88%,

08/15/2026

(f),(m)

6,360‌

6,416‌

$

78,289‌

Pharmaceuticals

-

1

.18

%

180

Medical

Inc

3.88%,

10/15/2029

(f)

9,620‌

8,526‌

BellRing

Brands

Inc

7.00%,

03/15/2030

(f)

7,655‌

7,598‌

Jazz

Securities

DAC

4.38%,

01/15/2029

(f)

12,040‌

10,985‌

$

27,109‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Pipelines

-

5

.60

%

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp

5.38%,

06/15/2029

(f)

$

5,820‌

$

5,405‌

5.75%,

03/01/2027

(f)

12,230‌

11,863‌

Buckeye

Partners

LP

3.95%,

12/01/2026

4,505‌

4,123‌

4.13%,

12/01/2027

9,680‌

8,757‌

CNX

Midstream

Partners

LP

4.75%,

04/15/2030

(f)

13,590‌

11,499‌

Crestwood

Midstream

Partners

LP

/

Crestwood

Midstream

Finance

Corp

5.63%,

05/01/2027

(f)

11,840‌

11,316‌

EnLink

Midstream

LLC

5.63%,

01/15/2028

(f)

12,835‌

12,546‌

6.50%,

09/01/2030

(f)

4,465‌

4,549‌

Harvest

Midstream

I

LP

7.50%,

09/01/2028

(f)

6,310‌

6,207‌

Hess

Midstream

Operations

LP

4.25%,

02/15/2030

(f)

20,245‌

17,731‌

Kinetik

Holdings

LP

5.88%,

06/15/2030

(f)

10,935‌

10,388‌

Tallgrass

Energy

Partners

LP

/

Tallgrass

Energy

Finance

Corp

6.00%,

12/31/2030

(f)

5,965‌

5,433‌

Targa

Resources

Partners

LP

/

Targa

Resources

Partners

Finance

Corp

4.88%,

02/01/2031

3,655‌

3,417‌

6.50%,

07/15/2027

4,000‌

4,094‌

Western

Midstream

Operating

LP

4.30%,

02/01/2030

12,577‌

11,518‌

$

128,846‌

REITs

-

2

.65

%

HAT

Holdings

I

LLC

/

HAT

Holdings

II

LLC

3.38%,

06/15/2026

(f)

11,225‌

9,962‌

3.75%,

09/15/2030

(f)

2,360‌

1,804‌

Iron

Mountain

Inc

4.50%,

02/15/2031

(f)

13,900‌

11,911‌

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp

4.75%,

06/15/2029

(f)

20,088‌

16,690‌

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co-Issuer

4.88%,

05/15/2029

(f)

735‌

635‌

5.88%,

10/01/2028

(f)

3,865‌

3,576‌

7.50%,

06/01/2025

(f)

4,180‌

4,237‌

XHR

LP

4.88%,

06/01/2029

(f)

13,603‌

12,073‌

$

60,888‌

Retail

-

5

.93

%

Abercrombie

&

Fitch

Management

Co

8.75%,

07/15/2025

(f),(g)

1,810‌

1,828‌

Academy

Ltd

6.00%,

11/15/2027

(f)

9,250‌

8,998‌

Bath

&

Body

Works

Inc

5.25%,

02/01/2028

11,165‌

10,539‌

6.63%,

10/01/2030

(f)

3,730‌

3,645‌

9.38%,

07/01/2025

(f)

2,499‌

2,675‌

Dave

&

Buster's

Inc

7.63%,

11/01/2025

(f)

11,021‌

11,201‌

Doman

Building

Materials

Group

Ltd

5.25%,

05/15/2026

(f)

CAD

8,370‌

5,724‌

Fertitta

Entertainment

LLC

/

Fertitta

Entertainment

Finance

Co

Inc

4.63%,

01/15/2029

(f)

$

16,625‌

14,673‌

6.75%,

01/15/2030

(f)

9,755‌

8,097‌

Gap

Inc/The

3.63%,

10/01/2029

(f)

13,895‌

10,664‌

Schedule

of

Investments

High

Yield

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

102

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Retail

(continued)

IRB

Holding

Corp

7.00%,

06/15/2025

(f)

$

6,015‌

$

6,037‌

LSF9

Atlantis

Holdings

LLC

/

Victra

Finance

Corp

7.75%,

02/15/2026

(f)

13,835‌

12,624‌

Park

River

Holdings

Inc

5.63%,

02/01/2029

(f)

12,600‌

8,793‌

Patrick

Industries

Inc

4.75%,

05/01/2029

(f)

7,000‌

5,984‌

7.50%,

10/15/2027

(f)

2,725‌

2,696‌

PetSmart

Inc

/

PetSmart

Finance

Corp

4.75%,

02/15/2028

(f)

11,270‌

10,425‌

Yum!

Brands

Inc

3.63%,

03/15/2031

13,890‌

11,840‌

$

136,443‌

Savings

&

Loans

-

0

.00

%

Washington

Mutual

Bank

/

Henderson

NV

0.00%,

06/15/2011

(d),(e)

3,500‌

—‌

0.00%,

01/15/2013

(d)

3,000‌

—‌

0.00%,

01/15/2015

(d),(e)

2,000‌

—‌

$

—‌

Semiconductors

-

0

.26

%

ams-OSRAM

AG

7.00%,

07/31/2025

(f)

6,300‌

6,064‌

Software

-

0

.80

%

Open

Text

Corp

3.88%,

02/15/2028

(f)

11,250‌

9,776‌

3.88%,

12/01/2029

(f)

10,250‌

8,524‌

$

18,300‌

Telecommunications

-

2

.35

%

Altice

France

Holding

SA

10.50%,

05/15/2027

(f)

7,205‌

6,187‌

Altice

France

SA/France

5.50%,

01/15/2028

(f)

3,595‌

2,986‌

8.13%,

02/01/2027

(f)

6,375‌

5,976‌

Iliad

Holding

SASU

6.50%,

10/15/2026

(f)

3,000‌

2,841‌

Level

3

Financing

Inc

4.25%,

07/01/2028

(f)

1,895‌

1,502‌

Maxar

Technologies

Inc

7.75%,

06/15/2027

(f)

10,915‌

11,413‌

Telecom

Italia

Capital

SA

6.38%,

11/15/2033

2,315‌

1,968‌

Telecom

Italia

SpA/Milano

5.30%,

05/30/2024

(f)

9,455‌

9,173‌

Viavi

Solutions

Inc

3.75%,

10/01/2029

(f)

13,660‌

11,919‌

$

53,965‌

Textiles

-

0

.21

%

Eagle

Intermediate

Global

Holding

BV/Eagle

US

Finance

LLC

7.50%,

05/01/2025

(f)

7,500‌

4,725‌

Transportation

-

1

.39

%

Eletson

Holdings

Inc

/

Eletson

Finance

US

LLC

/

Agathonissos

Finance

LLC

0.00%,

01/15/2022

(d),(e)

18,905‌

95‌

Navios

South

American

Logistics

Inc

/

Navios

Logistics

Finance

US

Inc

10.75%,

07/01/2025

(f),(g)

6,805‌

6,703‌

SFL

Corp

Ltd

8.88%,

02/01/2027

(m)

6,900‌

6,779‌

Watco

Cos

LLC

/

Watco

Finance

Corp

6.50%,

06/15/2027

(f)

14,452‌

13,644‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Transportation

(continued)

XPO

Escrow

Sub

LLC

7.50%,

11/15/2027

(f)

$

4,630‌

$

4,758‌

$

31,979‌

TOTAL

BONDS

$

2,010,928‌

CONVERTIBLE

BONDS

-

0

.00

%

Principal

Amount

(000's)

Value

(000's)

Food

-

0

.00

%

Fresh

Express

Delivery

Holding

Group

Co

Ltd

-

Escrow

0.00%,

11/09/2009

(d),(e)

HKD

46,500‌

$

—‌

0.00%,

10/18/2010

(d),(e)

CNH

245,000‌

—‌

$

—‌

TOTAL

CONVERTIBLE

BONDS

$

—‌

SENIOR

FLOATING

RATE

INTERESTS

-

5

.83

%

Principal

Amount

(000's)

Value

(000's)

Airlines

-

1

.82

%

AAdvantage

Loyalty

IP

Ltd

9.56%,

04/20/2028

(n)

$

18,218‌

$

18,693‌

3

Month

USD

LIBOR

+

4.75%

Mileage

Plus

Holdings

LLC

10.00%,

06/21/2027

(n)

13,784‌

14,356‌

3

Month

USD

LIBOR

+

5.25%

United

Airlines

Inc

8.57%,

04/21/2028

(n)

8,826‌

8,807‌

3

Month

USD

LIBOR

+

3.75%

$

41,856‌

Chemicals

-

0

.62

%

Aruba

Investments

Holdings

LLC

12.30%,

10/27/2028

(n)

16,000‌

14,373‌

1

Month

USD

LIBOR

+

7.75%

Diversified

Financial

Services

-

0

.18

%

Russell

Investments

US

Institutional

Holdco

Inc

8.07%,

05/30/2025

(n)

4,193‌

4,105‌

1

Month

USD

LIBOR

+

3.50%

Forest

Products

&

Paper

-

0

.37

%

Spectrum

Group

Buyer

Inc

11.32%,

05/19/2028

(n)

8,919‌

8,399‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

6.50%

Insurance

-

0

.26

%

Acrisure

LLC

8.07%,

02/15/2027

(n)

6,138‌

5,909‌

1

Month

USD

LIBOR

+

3.50%

Iron

&

Steel

-

0

.26

%

TMS

International

Corp/DE

7.44%,

08/14/2024

(n)

6,141‌

6,090‌

1

Month

USD

LIBOR

+

2.75%

Lodging

-

0

.17

%

Fertitta

Entertainment

LLC/NV

8.56%,

01/13/2029

(n)

3,955‌

3,905‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

Media

-

0

.59

%

Directv

Financing

LLC

9.57%,

08/02/2027

(n)

13,855‌

13,606‌

1

Month

USD

LIBOR

+

5.00%

Oil

&

Gas

-

0

.09

%

Ascent

Resources

Utica

Holdings

LLC

13.81%,

11/01/2025

(n)

2,004‌

2,124‌

1

Month

USD

LIBOR

+

9.00%

Packaging

&

Containers

-

0

.51

%

Mauser

Packaging

Solutions

Holding

Co

0.00%,

01/31/2026

(n),(o)

3,000‌

2,970‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

4.00%

7.62%,

04/03/2024

(n)

1,480‌

1,466‌

3

Month

USD

LIBOR

+

8.50%

Schedule

of

Investments

High

Yield

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

103

SENIOR

FLOATING

RATE

INTERESTS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Packaging

&

Containers

(continued)

Valcour

Packaging

LLC

7.98%,

09/30/2028

(n)

$

2,887‌

$

2,382‌

1

Month

USD

LIBOR

+

3.75%

11.23%,

09/30/2029

(n)

7,063‌

4,944‌

6

Month

USD

LIBOR

+

7.00%

$

11,762‌

Pharmaceuticals

-

0

.64

%

Bausch

Health

Cos

Inc

9.83%,

01/27/2027

(n)

19,208‌

14,731‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

5.25%

Retail

-

0

.32

%

IRB

Holding

Corp

7.69%,

12/15/2027

(n)

7,350‌

7,268‌

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

3.00%

TOTAL

SENIOR

FLOATING

RATE

INTERESTS

$

134,128‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

2

.05

%

Principal

Amount

(000's)

Value

(000's)

U.S.

Treasury

-

2

.05

%

2.75%,

08/15/2032

$

50,000‌

$

47,047‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

47,047‌

Total

Investments

$

2,296,553‌

Other

Assets

and

Liabilities

-  0.12%

2,801‌

TOTAL

NET

ASSETS

-

100.00%

$

2,299,354‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$13,266

or

0.58%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(f)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,542,691

or

67.09%

of

net

assets.

(g)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$12,809

or

0.56%

of

net

assets.

(h)

Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(i)

Perpetual

security.

Perpetual

securities

pay

an

indefinite

stream

of

interest,

but

they

may

be

called

by

the

issuer

at

an

earlier

date.

Date

shown,

if

any,

reflects

the

next

call

date

or

final

legal

maturity

date.

Rate

shown

is

as

of

period

end.

(j)

Security

is

a

contingent

convertible

security,

("CoCo").

CoCo's

are

hybrid

debt

securities

that

may

convert

to

equity

or

have

their

principal

written

down

upon

occurrence

of

certain

"triggers".

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$12,302

or

0.54%

of

net

assets.

(k)

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(l)

Payment

in

kind;

the

issuer

has

the

option

of

paying

additional

securities

in

lieu

of

cash.

(m)

Security

purchased

on

a

when-issued

basis.

(n)

Rate

information

disclosed

is

based

on

an

average

weighted

rate

of

the

underlying

tranches

as

of

period

end.

(o)

This

Senior

Floating

Rate

Note

will

settle

after

January

31,

2023,

at

which

time

the

interest

rate

will

be

determined.

Portfolio

Summary  (unaudited)

Sector

Percent

Consumer,

Cyclical

20

.96‌

%

Consumer,

Non-cyclical

14

.01‌

%

Industrial

13

.04‌

%

Energy

12

.84‌

%

Communications

10

.10‌

%

Financial

9

.79‌

%

Basic

Materials

8

.01‌

%

Money

Market

Funds

4

.44‌

%

Technology

2

.47‌

%

Utilities

2

.17‌

%

Government

2

.05‌

%

Other

Assets

and

Liabilities

0

.12‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

214,481‌

$

115,368‌

$

99,113‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

38,345‌

141,199‌

179,544‌

—‌

$

38,345‌

$

355,680‌

$

294,912‌

$

99,113‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

495‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

329‌

—‌

—‌

—‌

$

824‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Foreign

Currency

Contracts

Unrealized

Appreciation/

(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

RBC

Dominon

Securities

Corp

02/15/2023

$

5,751‌

CAD

7,705‌

$

—‌

$

(

41‌

)

Total

$

—‌

$

(

41‌

)

Amounts

in

thousands.

Schedule

of

Investments

Inflation

Protection

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

104

INVESTMENT

COMPANIES

-

1

.25

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

1

.25

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

8‌

$

—‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(c)

19,603,149‌

19,603‌

$

19,603‌

TOTAL

INVESTMENT

COMPANIES

$

19,603‌

BONDS

-

1

.95

%

Principal

Amount

(000's)

Value

(000's)

Commercial

Mortgage

Backed

Securities

-

0

.00

%

Commercial

Mortgage

Trust

2007-GG9

0.58%,

03/10/2039

(d),(e),(f)

$

82‌

$

—‌

Ginnie

Mae

1.60%,

03/16/2047

(d),(e)

74‌

1‌

$

1‌

Home

Equity

Asset

Backed

Securities

-

0

.00

%

Option

One

Mortgage

Loan

Trust

2005-1

6.01%,

02/25/2035

23‌

17‌

1.00

x

1

Month

USD

LIBOR

+

1.50%

Mortgage

Backed

Securities

-

1

.08

%

Alternative

Loan

Trust

2006-OA6

5.03%,

07/25/2046

2‌

2‌

1.00

x

1

Month

USD

LIBOR

+

0.52%

Chase

Mortgage

Finance

Trust

Series

2007-A2

3.22%,

06/25/2035

(e)

9‌

9‌

CSMC

2022-NQM4

Trust

4.82%,

06/25/2067

(e),(f)

1,522‌

1,505‌

CSMC

2022-NQM5

Trust

5.17%,

05/25/2067

(e),(f)

2,728‌

2,695‌

Fannie

Mae

REMIC

Trust

2004-W5

4.96%,

02/25/2047

12‌

11‌

1.00

x

1

Month

USD

LIBOR

+

0.45%

Fannie

Mae

REMIC

Trust

2005-W2

4.71%,

05/25/2035

1‌

1‌

1.00

x

1

Month

USD

LIBOR

+

0.20%

Homeward

Opportunities

Fund

Trust

2022-1

5.08%,

07/25/2067

(e),(f)

1,332‌

1,330‌

Impac

CMB

Trust

Series

2004-5

6.83%,

10/25/2034

4‌

3‌

1.00

x

1

Month

USD

LIBOR

+

2.33%

Impac

CMB

Trust

Series

2004-6

5.49%,

10/25/2034

2‌

2‌

1.00

x

1

Month

USD

LIBOR

+

0.98%

Impac

CMB

Trust

Series

2005-1

5.13%,

04/25/2035

30‌

28‌

1.00

x

1

Month

USD

LIBOR

+

0.62%

Impac

CMB

Trust

Series

2005-5

5.27%,

08/25/2035

6‌

6‌

1.00

x

1

Month

USD

LIBOR

+

0.51%

Merrill

Lynch

Alternative

Note

Asset

Trust

Series

2007-A3

4.93%,

04/25/2037

1,329‌

549‌

1.00

x

1

Month

USD

LIBOR

+

0.42%

MFA

2022-INV2

Trust

4.95%,

07/25/2057

(e),(f)

1,632‌

1,622‌

OBX

2022-NQM9

Trust

6.45%,

09/25/2062

(e),(f)

2,341‌

2,374‌

PRKCM

2022-AFC2

Trust

5.33%,

08/25/2057

(e),(f)

552‌

549‌

SG

Residential

Mortgage

Trust

2022-2

5.35%,

08/25/2062

(e),(f)

691‌

690‌

Spruce

Hill

Mortgage

Loan

Trust

2022-SH1

4.10%,

07/25/2057

(e),(f)

1,276‌

1,230‌

Verus

Securitization

Trust

2022-7

5.15%,

07/25/2067

(e),(f)

2,015‌

2,007‌

Verus

Securitization

Trust

2022-INV2

6.79%,

10/25/2067

(e),(f)

767‌

782‌

Visio

2022-1

Trust

5.76%,

08/25/2057

(e),(f)

1,629‌

1,623‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Mortgage

Backed

Securities

(continued)

WaMu

Mortgage

Pass-Through

Certificates

Series

2005-AR2

Trust

5.25%,

01/25/2045

$

13‌

$

12‌

1.00

x

1

Month

USD

LIBOR

+

0.74%

$

17,030‌

Other

Asset

Backed

Securities

-

0

.63

%

AMSR

2022-SFR3

Trust

4.00%,

10/17/2039

(f)

2,091‌

1,862‌

Argent

Securities

Trust

2006-W3

4.75%,

04/25/2036

24‌

8‌

1.00

x

1

Month

USD

LIBOR

+

0.24%

Countrywide

Asset-Backed

Certificates

5.63%,

12/25/2032

8‌

7‌

1.00

x

1

Month

USD

LIBOR

+

1.13%

Long

Beach

Mortgage

Loan

Trust

2004-2

5.30%,

06/25/2034

20‌

19‌

1.00

x

1

Month

USD

LIBOR

+

0.80%

New

Residential

Mortgage

Loan

Trust

2022-SFR2

4.00%,

09/04/2039

(f)

2,035‌

1,805‌

Pagaya

AI

Technology

in

Housing

Trust

2022-1

4.25%,

08/25/2025

(f)

1,275‌

1,162‌

Progress

Residential

2022-SFR6

Trust

6.04%,

07/20/2039

(f)

1,990‌

1,931‌

Progress

Residential

2022-SFR7

Trust

5.50%,

10/27/2039

(f)

3,320‌

3,161‌

$

9,955‌

Sovereign

-

0

.24

%

European

Union

2.50%,

10/04/2052

EUR

3,900‌

3,733‌

TOTAL

BONDS

$

30,736‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

97

.99

%

Principal

Amount

(000's)

Value

(000's)

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

1

.01

%

5.00%,

02/01/2053

(g)

$

15,795‌

$

15,853‌

U.S.

Treasury

Inflation-Indexed

Obligations

-

96

.98

%

0.13%,

07/15/2024

55,400‌

53,783‌

0.13%,

10/15/2024

49,617‌

48,022‌

0.13%,

04/15/2025

39,447‌

37,819‌

0.13%,

10/15/2025

51,644‌

49,527‌

0.13%,

04/15/2026

37,672‌

35,787‌

0.13%,

07/15/2026

47,745‌

45,507‌

0.13%,

10/15/2026

51,103‌

48,587‌

0.13%,

04/15/2027

52,326‌

49,414‌

0.13%,

01/15/2030

50,642‌

46,640‌

0.13%,

07/15/2030

(h)

51,834‌

47,641‌

0.13%,

01/15/2031

56,777‌

51,807‌

0.13%,

07/15/2031

54,823‌

49,875‌

0.13%,

01/15/2032

(h)

59,923‌

54,102‌

0.13%,

02/15/2051

20,492‌

14,138‌

0.13%,

02/15/2052

22,683‌

15,638‌

0.25%,

01/15/2025

43,354‌

41,822‌

0.25%,

07/15/2029

45,129‌

42,284‌

0.25%,

02/15/2050

20,021‌

14,444‌

0.38%,

07/15/2025

27,966‌

27,051‌

0.38%,

01/15/2027

45,246‌

43,232‌

0.38%,

07/15/2027

46,759‌

44,743‌

0.50%,

04/15/2024

33,081‌

32,254‌

0.50%,

01/15/2028

(h)

28,132‌

26,922‌

0.63%,

01/15/2024

14,022‌

13,748‌

0.63%,

01/15/2026

42,111‌

40,735‌

0.63%,

07/15/2032

(h)

62,037‌

58,670‌

0.63%,

02/15/2043

20,136‌

17,010‌

0.75%,

07/15/2028

41,639‌

40,407‌

0.75%,

02/15/2042

26,201‌

22,873‌

0.75%,

02/15/2045

31,359‌

26,716‌

0.88%,

01/15/2029

36,288‌

35,314‌

Schedule

of

Investments

Inflation

Protection

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

105

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

U.S.

Treasury

Inflation-Indexed

Obligations

(continued)

0.88%,

02/15/2047

$

20,282‌

$

17,505‌

1.00%,

02/15/2046

15,449‌

13,812‌

1.00%,

02/15/2048

13,980‌

12,390‌

1.00%,

02/15/2049

12,434‌

10,995‌

1.13%,

01/15/2033

22,123‌

21,861‌

1.38%,

02/15/2044

(i)

27,729‌

26,894‌

1.63%,

10/15/2027

36,929‌

37,409‌

1.75%,

01/15/2028

18,339‌

18,643‌

2.00%,

01/15/2026

24,075‌

24,220‌

2.13%,

02/15/2040

12,350‌

13,578‌

2.13%,

02/15/2041

15,979‌

17,589‌

2.38%,

01/15/2025

34,536‌

34,692‌

2.38%,

01/15/2027

20,904‌

21,562‌

2.50%,

01/15/2029

17,657‌

18,783‌

3.38%,

04/15/2032

8,312‌

9,771‌

3.63%,

04/15/2028

20,073‌

22,249‌

3.88%,

04/15/2029

24,190‌

27,704‌

$

1,526,169‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

1,542,022‌

TOTAL

PURCHASED

OPTIONS

-

0.05%

$

788‌

TOTAL

PURCHASED

INTEREST

RATE

SWAPTIONS

-

0.23%

$

3,563‌

Total

Investments

$

1,596,712‌

Other

Assets

and

Liabilities

-  (1.47)%

(

23,080‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,573,632‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$0

or

0.00%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Security

is

an

Interest

Only

Strip.

(e)

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(f)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$26,328

or

1.67%

of

net

assets.

(g)

Security

was

purchased

in

a

"to-be-announced"

("TBA")

transaction.

(h)

Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

swap

and/or

swaption

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$4,977

or

0.32%

of

net

assets.

(i)

Security

or

a

portion

of

the

security

was

pledged

to

cover

margin

requirements

for

futures

contracts.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$240

or

0.02%

of

net

assets.

Portfolio

Summary  (unaudited)

Sector

Percent

Government

97

.22‌

%

Mortgage

Securities

2

.09‌

%

Money

Market

Funds

1

.25‌

%

Asset

Backed

Securities

0

.63‌

%

Purchased

Interest

Rate

Swaptions

0

.23‌

%

Purchased

Options

0

.05‌

%

Other

Assets

and

Liabilities

(

1

.47‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

78,419‌

$

58,816‌

$

19,603‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

25,293‌

55,920‌

81,213‌

—‌

$

25,293‌

$

134,339‌

$

140,029‌

$

19,603‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

16‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

55‌

—‌

—‌

—‌

$

71‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Options

Purchased

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Payments

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Put

-

US

5

Year

Note

Future;

March

2023

N/A

181‌

$

181‌

$

108

.75‌

02/27/2023

$

54‌

$

59‌

$

5‌

Call

-

3

Month

SOFR

Future;

June

2024

N/A

1,726‌

4,315‌

$

97

.00‌

06/20/2023

1,027‌

637‌

(

390‌

)

Call

-

3

Month

SOFR

Future;

March

2023

N/A

1,833‌

4,583‌

$

95

.19‌

02/13/2023

176‌

92‌

(

84‌

)

Total

$

1,257‌

$

788‌

$

(

469‌

)

Schedule

of

Investments

Inflation

Protection

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

106

Options

(continued)

Written

Options

Outstanding

Counterparty

Contracts/

Shares

Notional

Amount

Exercise

Price

Expiration

Date

Upfront

Receipts

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Put

-

US

2

Year

Note

Future;

March

2023

N/A

217‌

$

434‌

$

102

.63‌

02/27/2023

$

(

51‌

)

$

(

61‌

)

$

(

10‌

)

Call

-

3

Month

SOFR

Future;

June

2024

N/A

1,726‌

4,315‌

$

97

.63‌

06/20/2023

(

420‌

)

(

184‌

)

236‌

Call

-

3

Month

SOFR

Future;

March

2023

N/A

2,292‌

5,730‌

$

95

.44‌

02/13/2023

(

23‌

)

(

14‌

)

9‌

Total

$

(

494‌

)

$

(

259‌

)

$

235‌

Amounts

in

thousands

except

contracts/shares.

Interest

Rate

Swaptions

Purchased

Swaptions

Outstanding

Counterparty

Floating

Rate

Index

Pay/

Receive

Floating

Rate

Notional

Amount

Exercise

Rate

Expiration

Date

Upfront

Payments

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

10

Year

Interest

Rate

Swap

Barclays

Bank

PLC

Secured

Overnight

Financing

Rate

Pay

$

11,845‌

3.53%

10/13/2023

$

500‌

$

596‌

$

96‌

Call

-

10

Year

Interest

Rate

Swap

Barclays

Bank

PLC

Secured

Overnight

Financing

Rate

Pay

6,587‌

3.06%

12/07/2023

263‌

194‌

(

69‌

)

Call

-

10

Year

Interest

Rate

Swap

JPMorgan

Chase

Secured

Overnight

Financing

Rate

Pay

20,957‌

2.87%

08/31/2023

778‌

338‌

(

440‌

)

Call

-

10

Year

Interest

Rate

Swap

Morgan

Stanley

&

Co

Secured

Overnight

Financing

Rate

Pay

21,319‌

3.06%

12/06/2023

841‌

631‌

(

210‌

)

Put

-

10

Year

Interest

Rate

Swap

Barclays

Bank

PLC

Secured

Overnight

Financing

Rate

Receive

11,845‌

3.53%

10/13/2023

500‌

175‌

(

325‌

)

Put

-

10

Year

Interest

Rate

Swap

Barclays

Bank

PLC

Secured

Overnight

Financing

Rate

Receive

6,587‌

3.06%

12/07/2023

263‌

202‌

(

61‌

)

Put

-

10

Year

Interest

Rate

Swap

JPMorgan

Chase

Secured

Overnight

Financing

Rate

Receive

20,957‌

2.87%

08/31/2023

777‌

776‌

(

1‌

)

Put

-

10

Year

Interest

Rate

Swap

Morgan

Stanley

&

Co

Secured

Overnight

Financing

Rate

Receive

21,319‌

3.06%

12/06/2023

863‌

651‌

(

212‌

)

Total

$

4,785‌

$

3,563‌

$

(

1,222‌

)

Written

Swaptions

Outstanding

Counterparty

Floating

Rate

Index

Pay/

Receive

Floating

Rate

Notional

Amount

Exercise

Rate

Expiration

Date

Upfront

Receipts

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Call

-

10

Year

Interest

Rate

Swap

Barclays

Bank

PLC

Secured

Overnight

Financing

Rate

Receive

$

32,540‌

3.18%

06/14/2023

$

(

1,289‌

)

$

(

684‌

)

$

605‌

Call

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Receive

4,452‌

3.16%

01/05/2024

(

174‌

)

(

160‌

)

14‌

Call

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Receive

10,993‌

3.19%

06/16/2023

(

421‌

)

(

239‌

)

182‌

Call

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Receive

2,687‌

2.75%

07/20/2023

(

98‌

)

(

27‌

)

71‌

Call

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Receive

11,729‌

3.02%

12/15/2023

(

468‌

)

(

335‌

)

133‌

Call

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Receive

14,018‌

2.54%

08/08/2023

(

498‌

)

(

97‌

)

401‌

Call

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Receive

7,718‌

2.44%

08/11/2023

(

271‌

)

(

43‌

)

228‌

Call

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Receive

6,396‌

3.26%

10/04/2023

(

259‌

)

(

221‌

)

38‌

Call

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Receive

9,832‌

3.69%

11/13/2023

(

376‌

)

(

610‌

)

(

234‌

)

Call

-

10

Year

Interest

Rate

Swap

JPMorgan

Chase

Secured

Overnight

Financing

Rate

Receive

12,849‌

3.32%

11/17/2023

(

482‌

)

(

526‌

)

(

44‌

)

Call

-

10

Year

Interest

Rate

Swap

JPMorgan

Chase

Secured

Overnight

Financing

Rate

Receive

9,451‌

2.68%

08/22/2023

(

341‌

)

(

98‌

)

243‌

Call

-

10

Year

Interest

Rate

Swap

JPMorgan

Chase

Secured

Overnight

Financing

Rate

Receive

4,452‌

3.15%

01/09/2024

(

165‌

)

(

159‌

)

6‌

Put

-

10

Year

Interest

Rate

Swap

Barclays

Bank

PLC

Secured

Overnight

Financing

Rate

Pay

32,540‌

3.18%

06/14/2023

(

1,288‌

)

(

673‌

)

615‌

Put

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Pay

4,452‌

3.16%

01/05/2024

(

174‌

)

(

122‌

)

52‌

Put

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Pay

11,729‌

3.02%

12/15/2023

(

468‌

)

(

378‌

)

90‌

Schedule

of

Investments

Inflation

Protection

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

107

Interest

Rate

Swaptions

(continued)

Written

Swaptions

Outstanding

Counterparty

Floating

Rate

Index

Pay/

Receive

Floating

Rate

Notional

Amount

Exercise

Rate

Expiration

Date

Upfront

Receipts

Fair

Value

Unrealized

Appreciation/

(Depreciation)

Put

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Pay

$

6,396‌

3.26%

10/04/2023

$

(

258‌

)

$

(

139‌

)

$

119‌

Put

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Pay

7,718‌

2.44%

08/11/2023

(

271‌

)

(

491‌

)

(

220‌

)

Put

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Pay

14,018‌

2.54%

08/08/2023

(

498‌

)

(

792‌

)

(

294‌

)

Put

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Pay

2,687‌

2.75%

07/20/2023

(

96‌

)

(

116‌

)

(

20‌

)

Put

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Pay

10,993‌

3.19%

06/16/2023

(

421‌

)

(

223‌

)

198‌

Put

-

10

Year

Interest

Rate

Swap

Deutsche

Bank

AG

Secured

Overnight

Financing

Rate

Pay

9,832‌

3.69%

11/13/2023

(

375‌

)

(

123‌

)

252‌

Put

-

10

Year

Interest

Rate

Swap

JPMorgan

Chase

Secured

Overnight

Financing

Rate

Pay

12,849‌

3.32%

11/17/2023

(

482‌

)

(

272‌

)

210‌

Put

-

10

Year

Interest

Rate

Swap

JPMorgan

Chase

Secured

Overnight

Financing

Rate

Pay

9,451‌

2.68%

08/22/2023

(

341‌

)

(

452‌

)

(

111‌

)

Put

-

10

Year

Interest

Rate

Swap

JPMorgan

Chase

Secured

Overnight

Financing

Rate

Pay

4,452‌

3.15%

01/09/2024

(

165‌

)

(

124‌

)

41‌

Total

$

(

9,679‌

)

$

(

7,104‌

)

$

2,575‌

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

3

Month

SOFR;

December

2025

Short

35‌

$

8,501‌

$

11‌

3

Month

SOFR;

March

2023

Short

451‌

107,299‌

(

13‌

)

Canada

10

Year

Bond;

March

2023

Short

12‌

1,139‌

(

8‌

)

Euribor;

December

2023

Long

30‌

7,876‌

(

4‌

)

Euribor;

June

2023

Short

30‌

7,872‌

2‌

Euro

Bond

10

Year

Bond;

March

2023

Long

7‌

1,041‌

(

33‌

)

Euro

Buxl

30

Year

Bond;

March

2023

Short

23‌

3,601‌

53‌

Japan

10

Year

Bond

TSE;

March

2023

Short

28‌

31,527‌

150‌

US

10

Year

Note;

March

2023

Short

545‌

62,411‌

208‌

US

10

Year

Ultra

Note;

March

2023

Short

14‌

1,697‌

14‌

US

2

Year

Note;

March

2023

Long

71‌

14,601‌

(

24‌

)

US

5

Year

Note;

March

2023

Long

225‌

24,580‌

22‌

US

Long

Bond;

March

2023

Short

6‌

779‌

3‌

Total

$

381‌

Amounts

in

thousands

except

contracts.

Foreign

Currency

Contracts

Unrealized

Appreciation/

(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

Bank

of

America

NA

02/02/2023

GBP

586‌

$

698‌

$

24‌

$

—‌

Bank

of

America

NA

02/02/2023

EUR

1,011‌

$

1,070‌

29‌

—‌

Bank

of

America

NA

02/02/2023

JPY

128,326‌

$

979‌

18‌

(

10‌

)

Bank

of

America

NA

02/02/2023

$

667‌

JPY

89,469‌

4‌

(

25‌

)

Bank

of

America

NA

03/02/2023

$

263‌

GBP

213‌

—‌

—‌

Bank

of

America

NA

03/02/2023

$

311‌

JPY

40,274‌

—‌

—‌

BNP

Paribas

02/02/2023

$

230‌

EUR

221‌

—‌

(

11‌

)

Citigroup

Inc

02/02/2023

$

3,670‌

EUR

3,376‌

—‌

—‌

Citigroup

Inc

02/08/2023

MXN

16,064‌

$

815‌

37‌

—‌

HSBC

Securities

Inc

02/02/2023

EUR

3,206‌

$

3,484‌

1‌

—‌

HSBC

Securities

Inc

03/02/2023

$

3,490‌

EUR

3,206‌

—‌

—‌

JPMorgan

Chase

02/02/2023

JPY

61,647‌

$

475‌

—‌

(

1‌

)

JPMorgan

Chase

02/02/2023

$

320‌

EUR

300‌

—‌

(

6‌

)

JPMorgan

Chase

02/02/2023

$

630‌

JPY

81,766‌

4‌

(

2‌

)

JPMorgan

Chase

02/08/2023

$

815‌

MXN

16,181‌

—‌

(

43‌

)

JPMorgan

Chase

03/02/2023

$

277‌

EUR

255‌

—‌

—‌

Morgan

Stanley

&

Co

02/02/2023

GBP

908‌

$

1,121‌

—‌

(

2‌

)

Morgan

Stanley

&

Co

02/02/2023

$

389‌

GBP

316‌

—‌

(

1‌

)

Royal

Bank

of

Scotland

02/02/2023

$

122‌

GBP

99‌

—‌

(

1‌

)

UBS

AG

02/02/2023

$

1,051‌

GBP

866‌

—‌

(

16‌

)

Schedule

of

Investments

Inflation

Protection

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

108

Foreign

Currency

Contracts

(continued)

Unrealized

Appreciation/

(Depreciation)

Counterparty

Settlement

Date

Currency

to

Accept

Currency

to

Deliver

Asset

Liability

UBS

AG

02/02/2023

$

374‌

EUR

357‌

$

—‌

$

(

14‌

)

Total

$

117‌

$

(

132‌

)

Amounts

in

thousands.

Exchange

Cleared

Interest

Rate

Swaps

Floating

Rate

Index

(Pay)/

Receive

Floating

Rate

Fixed

Rate

Payment

Frequency

Paid

by

Fund

Payment

Frequency

Received

by

Fund

Effective

Date

(a)

Maturity

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Upfront

Payments/(Receipts)

Fair

Value

6

Month

Euro

Interbank

Offered

Rate

Pay

2.06%

Semiannual

Annual

N/A

01/20/2053

EUR

655‌

$

(

43‌

)

$

—‌

$

(

43‌

)

6

Month

Euro

Interbank

Offered

Rate

Receive

1.64%

Annual

Semiannual

N/A

01/20/2073

430‌

38‌

—‌

38‌

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.99%

Annual

Annual

N/A

10/21/2024

$

2,140‌

$

(

21‌

)

—‌

(

21‌

)

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.31%

Annual

Annual

N/A

01/06/2025

2,070‌

(

1‌

)

—‌

(

1‌

)

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Pay

2.21%

Annual

Annual

N/A

01/06/2024

2,070‌

1‌

—‌

1‌

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Pay

3.17%

Annual

Annual

N/A

10/21/2023

2,140‌

10‌

—‌

10‌

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

3.19%

Annual

Annual

N/A

08/01/2025

25,065‌

(

301‌

)

1‌

(

300‌

)

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.43%

Annual

Annual

N/A

08/17/2052

275‌

—‌

—‌

—‌

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.49%

Annual

Annual

N/A

12/12/2052

310‌

(

7‌

)

—‌

(

7‌

)

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.61%

Annual

Annual

N/A

12/12/2027

24,730‌

(

188‌

)

1‌

(

187‌

)

Consumer

Price

All

Urban

Non-Seasonally

Adjusted

Index

Receive

2.61%

Annual

Annual

N/A

12/12/2027

12,750‌

(

100‌

)

—‌

(

100‌

)

France

Consumer

Price

Index

Excluding

Tobacco

Receive

3.32%

Annual

Annual

N/A

12/15/2027

EUR

3,815‌

$

(

89‌

)

(

3‌

)

(

92‌

)

France

Consumer

Price

Index

Excluding

Tobacco

Pay

3.08%

Annual

Annual

N/A

12/15/2032

3,815‌

122‌

4‌

126‌

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Receive

2.56%

Annual

Annual

N/A

10/15/2027

3,805‌

40‌

7‌

47‌

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Pay

2.42%

Annual

Annual

N/A

10/15/2032

3,805‌

(

47‌

)

(

9‌

)

(

56‌

)

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Pay

2.67%

Annual

Annual

N/A

09/15/2032

1,695‌

13‌

1‌

14‌

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Receive

3.08%

Annual

Annual

N/A

09/15/2027

1,695‌

(

17‌

)

(

2‌

)

(

19‌

)

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Pay

2.77%

Annual

Annual

N/A

12/15/2027

3,815‌

45‌

—‌

45‌

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Receive

2.57%

Annual

Annual

N/A

12/15/2032

3,815‌

(

56‌

)

(

1‌

)

(

57‌

)

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Receive

2.60%

Annual

Annual

N/A

08/15/2052

230‌

3‌

—‌

3‌

Schedule

of

Investments

Inflation

Protection

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

109

Exchange

Cleared

Interest

Rate

Swaps

(continued)

Floating

Rate

Index

(Pay)/

Receive

Floating

Rate

Fixed

Rate

Payment

Frequency

Paid

by

Fund

Payment

Frequency

Received

by

Fund

Effective

Date

(a)

Maturity

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Upfront

Payments/(Receipts)

Fair

Value

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Pay

2.43%

Annual

Annual

N/A

07/15/2052

385‌

$

(

29‌

)

$

(

2‌

)

$

(

31‌

)

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Pay

2.65%

Annual

Annual

N/A

11/15/2052

255‌

4‌

—‌

4‌

Harmonised

Indices

of

Consumer

Prices

Excluding

Food

and

Energy

Pay

2.44%

Annual

Annual

N/A

08/15/2052

400‌

(

26‌

)

(

2‌

)

(

28‌

)

Secured

Overnight

Financing

Rate

Pay

3.56%

Annual

Annual

N/A

11/14/2032

$

2,747‌

$

72‌

—‌

72‌

Secured

Overnight

Financing

Rate

Pay

3.58%

Annual

Annual

N/A

11/16/2032

2,577‌

73‌

—‌

73‌

Secured

Overnight

Financing

Rate

Receive

3.36%

Annual

Annual

N/A

12/22/2032

4,448‌

(

47‌

)

—‌

(

47‌

)

Secured

Overnight

Financing

Rate

Pay

3.47%

Annual

Annual

N/A

11/18/2032

2,932‌

56‌

—‌

56‌

Secured

Overnight

Financing

Rate

Receive

3.29%

Annual

Annual

N/A

12/13/2032

2,809‌

(

11‌

)

—‌

(

11‌

)

Secured

Overnight

Financing

Rate

Pay

3.24%

Annual

Annual

N/A

12/05/2032

4,884‌

(

3‌

)

—‌

(

3‌

)

Secured

Overnight

Financing

Rate

Pay

3.21%

Annual

Annual

N/A

12/06/2032

2,923‌

(

8‌

)

—‌

(

8‌

)

Secured

Overnight

Financing

Rate

Pay

3.20%

Annual

Annual

N/A

12/06/2032

4,168‌

(

14‌

)

—‌

(

14‌

)

Secured

Overnight

Financing

Rate

Pay

3.18%

Annual

Annual

N/A

12/12/2032

4,884‌

(

24‌

)

—‌

(

24‌

)

Secured

Overnight

Financing

Rate

Pay

3.41%

Annual

Annual

N/A

11/21/2032

3,902‌

56‌

—‌

56‌

Secured

Overnight

Financing

Rate

Receive

3.81%

Annual

Annual

N/A

11/15/2032

1,831‌

(

88‌

)

—‌

(

88‌

)

Secured

Overnight

Financing

Rate

Pay

2.78%

Annual

Annual

N/A

07/05/2032

4,863‌

(

185‌

)

—‌

(

185‌

)

Secured

Overnight

Financing

Rate

Pay

3.83%

Annual

Annual

N/A

10/27/2032

4,647‌

228‌

1‌

229‌

Secured

Overnight

Financing

Rate

Pay

2.83%

Annual

Annual

N/A

07/05/2032

4,863‌

(

165‌

)

—‌

(

165‌

)

Secured

Overnight

Financing

Rate

Pay

2.71%

Annual

Annual

N/A

07/06/2032

3,252‌

(

145‌

)

—‌

(

145‌

)

Secured

Overnight

Financing

Rate

Pay

2.62%

Annual

Annual

N/A

07/07/2032

2,211‌

(

115‌

)

—‌

(

115‌

)

Secured

Overnight

Financing

Rate

Pay

2.60%

Annual

Annual

N/A

07/26/2032

1,951‌

(

107‌

)

—‌

(

107‌

)

Secured

Overnight

Financing

Rate

Receive

2.75%

Annual

Annual

N/A

08/23/2032

4,059‌

170‌

—‌

170‌

Secured

Overnight

Financing

Rate

Receive

2.93%

Annual

Annual

N/A

09/01/2032

4,987‌

136‌

—‌

136‌

Secured

Overnight

Financing

Rate

Pay

2.92%

Annual

Annual

N/A

09/02/2032

1,338‌

(

37‌

)

—‌

(

37‌

)

Secured

Overnight

Financing

Rate

Receive

2.93%

Annual

Annual

N/A

09/02/2032

5,019‌

134‌

—‌

134‌

Secured

Overnight

Financing

Rate

Receive

3.82%

Annual

Annual

N/A

11/15/2032

4,918‌

(

240‌

)

—‌

(

240‌

)

Secured

Overnight

Financing

Rate

Receive

2.99%

Annual

Annual

N/A

09/02/2032

5,019‌

110‌

—‌

110‌

Secured

Overnight

Financing

Rate

Receive

3.47%

Annual

Annual

N/A

09/30/2032

4,726‌

(

89‌

)

—‌

(

89‌

)

Secured

Overnight

Financing

Rate

Receive

3.56%

Annual

Annual

N/A

10/03/2032

7,089‌

(

188‌

)

—‌

(

188‌

)

Secured

Overnight

Financing

Rate

Pay

3.48%

Annual

Annual

N/A

10/04/2032

3,392‌

67‌

—‌

67‌

Secured

Overnight

Financing

Rate

Pay

3.41%

Annual

Annual

N/A

10/05/2032

1,922‌

27‌

—‌

27‌

Secured

Overnight

Financing

Rate

Receive

3.62%

Annual

Annual

N/A

10/12/2032

4,879‌

(

153‌

)

—‌

(

153‌

)

Schedule

of

Investments

Inflation

Protection

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

110

Exchange

Cleared

Interest

Rate

Swaps

(continued)

Floating

Rate

Index

(Pay)/

Receive

Floating

Rate

Fixed

Rate

Payment

Frequency

Paid

by

Fund

Payment

Frequency

Received

by

Fund

Effective

Date

(a)

Maturity

Date

Notional

Amount

Unrealized

Appreciation/

(Depreciation)

Upfront

Payments/(Receipts)

Fair

Value

Secured

Overnight

Financing

Rate

Receive

3.65%

Annual

Annual

N/A

10/14/2032

1,948‌

$

(

66‌

)

$

—‌

$

(

66‌

)

Secured

Overnight

Financing

Rate

Receive

3.62%

Annual

Annual

N/A

10/17/2032

4,061‌

(

128‌

)

1‌

(

127‌

)

Secured

Overnight

Financing

Rate

Receive

3.85%

Annual

Annual

N/A

10/21/2032

6,891‌

(

352‌

)

—‌

(

352‌

)

Secured

Overnight

Financing

Rate

Receive

3.94%

Annual

Annual

N/A

10/25/2032

1,000‌

(

59‌

)

—‌

(

59‌

)

Secured

Overnight

Financing

Rate

Receive

3.08%

Annual

Annual

N/A

09/09/2032

2,966‌

43‌

—‌

43‌

Tokyo

Overnight  Average

Rate

Receive

0.19%

Annual

Annual

N/A

01/23/2025

JPY

2,545,932‌

$

(

8‌

)

1‌

(

7‌

)

United

Kingdom

Retail

Prices

Index

Pay

3.98%

Annual

Annual

N/A

01/15/2025

GBP

6,555‌

$

40‌

—‌

40‌

United

Kingdom

Retail

Prices

Index

Receive

4.26%

Annual

Annual

N/A

01/15/2024

6,555‌

(

52‌

)

—‌

(

52‌

)

Total

$

(

1,721‌

)

$

(

2‌

)

$

(

1,723‌

)

Amounts

in

thousands.

(a)    

Forward

swap.

Schedule

of

Investments

International

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

111

INVESTMENT

COMPANIES

-

1

.47

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

1

.47

%

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b)

4,694,087‌

$

4,694‌

TOTAL

INVESTMENT

COMPANIES

$

4,694‌

COMMON

STOCKS

-

98

.02

%

Shares

Held

Value

(000's)

Advertising

-

1

.13

%

Publicis

Groupe

SA

51,000‌

$

3,597‌

Aerospace

&

Defense

-

0

.69

%

Airbus

SE

17,600‌

2,206‌

Agriculture

-

1

.54

%

British

American

Tobacco

PLC

37,000‌

1,418‌

Imperial

Brands

PLC

139,000‌

3,487‌

$

4,905‌

Airlines

-

0

.92

%

Japan

Airlines

Co

Ltd

(c)

94,000‌

1,993‌

Ryanair

Holdings

PLC

(c)

58,000‌

934‌

$

2,927‌

Apparel

-

3

.47

%

LVMH

Moet

Hennessy

Louis

Vuitton

SE

12,678‌

11,068‌

Automobile

Manufacturers

-

2

.68

%

Bayerische

Motoren

Werke

AG

18,500‌

1,884‌

Mercedes-Benz

Group

AG

22,000‌

1,637‌

Mitsubishi

Motors

Corp

(c)

430,000‌

1,657‌

Toyota

Motor

Corp

101,843‌

1,496‌

Yadea

Group

Holdings

Ltd

(d)

821,000‌

1,872‌

$

8,546‌

Banks

-

17

.08

%

Absa

Group

Ltd

176,000‌

2,023‌

Banca

Mediolanum

SpA

135,000‌

1,292‌

Banco

Bilbao

Vizcaya

Argentaria

SA

520,000‌

3,673‌

Banco

do

Brasil

SA

221,000‌

1,778‌

Bangkok

Bank

PCL

343,000‌

1,654‌

Bank

Mandiri

Persero

Tbk

PT

2,619,000‌

1,745‌

Bank

of

China

Ltd

5,582,000‌

2,125‌

Bank

of

Jiangsu

Co

Ltd

1,341,000‌

1,477‌

BAWAG

Group

AG

(c),(d)

23,000‌

1,425‌

BPER

Banca

373,000‌

1,025‌

China

Construction

Bank

Corp

2,088,000‌

1,351‌

China

Merchants

Bank

Co

Ltd

146,000‌

947‌

Commonwealth

Bank

of

Australia

44,000‌

3,435‌

DBS

Group

Holdings

Ltd

191,900‌

5,253‌

Grupo

Financiero

Banorte

SAB

de

CV

368,000‌

3,049‌

ICICI

Bank

Ltd

152,000‌

1,555‌

Mitsubishi

UFJ

Financial

Group

Inc

518,000‌

3,794‌

National

Australia

Bank

Ltd

70,000‌

1,579‌

Oversea-Chinese

Banking

Corp

Ltd

348,000‌

3,438‌

Royal

Bank

of

Canada

35,800‌

3,663‌

Sberbank

of

Russia

PJSC

ADR

(c)

194,243‌

—‌

State

Bank

of

India

474,000‌

3,219‌

UBS

Group

AG

174,000‌

3,714‌

Woori

Financial

Group

Inc

121,000‌

1,262‌

$

54,476‌

Beverages

-

1

.75

%

Diageo

PLC

35,300‌

1,544‌

Pernod

Ricard

SA

19,500‌

4,037‌

$

5,581‌

Biotechnology

-

1

.13

%

Genmab

A/S

(c)

9,218‌

3,612‌

Chemicals

-

0

.61

%

Anhui

Guangxin

Agrochemical

Co

Ltd

415,800‌

1,953‌

Coal

-

2

.06

%

China

Shenhua

Energy

Co

Ltd

533,000‌

1,659‌

New

Hope

Corp

Ltd

198,000‌

820‌

Shaanxi

Coal

Industry

Co

Ltd

947,957‌

2,750‌

Shanxi

Lu'an

Environmental

Energy

Development

Co

Ltd

461,995‌

1,358‌

$

6,587‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Commercial

Services

-

2

.25

%

Ashtead

Group

PLC

47,137‌

$

3,105‌

Persol

Holdings

Co

Ltd

84,000‌

1,842‌

RELX

PLC

75,000‌

2,228‌

$

7,175‌

Computers

-

2

.95

%

BayCurrent

Consulting

Inc

73,000‌

3,103‌

CGI

Inc

(c)

19,200‌

1,646‌

Computershare

Ltd

65,000‌

1,095‌

SHIFT

Inc

(c)

9,000‌

1,680‌

Teleperformance

6,822‌

1,896‌

$

9,420‌

Cosmetics

&

Personal

Care

-

1

.63

%

L'Oreal

SA

12,600‌

5,203‌

Distribution

&

Wholesale

-

0

.56

%

Ferguson

PLC

12,800‌

1,803‌

Diversified

Financial

Services

-

1

.55

%

Deutsche

Boerse

AG

8,000‌

1,432‌

IG

Group

Holdings

PLC

183,000‌

1,799‌

Julius

Baer

Group

Ltd

26,500‌

1,700‌

$

4,931‌

Electric

-

1

.11

%

Endesa

SA

85,000‌

1,695‌

Iberdrola

SA

158,000‌

1,853‌

$

3,548‌

Electrical

Components

&

Equipment

-

2

.40

%

Delta

Electronics

Inc

190,000‌

1,842‌

Ecopro

BM

Co

Ltd

20,000‌

1,633‌

L&F

Co

Ltd

8,500‌

1,435‌

Schneider

Electric

SE

17,000‌

2,758‌

$

7,668‌

Electronics

-

0

.50

%

Lotes

Co

Ltd

63,000‌

1,602‌

Engineering

&

Construction

-

1

.78

%

Samsung

Engineering

Co

Ltd

(c)

73,000‌

1,541‌

Sichuan

Road

and

Bridge

Group

Co

Ltd

1,075,992‌

1,871‌

Vinci

SA

20,000‌

2,260‌

$

5,672‌

Entertainment

-

1

.92

%

Evolution

AB

(d)

27,000‌

3,034‌

JYP

Entertainment

Corp

(c)

34,000‌

2,016‌

SM

Entertainment

Co

Ltd

(c)

15,000‌

1,079‌

$

6,129‌

Food

-

3

.12

%

BIM

Birlesik

Magazalar

AS

282,321‌

1,872‌

Dino

Polska

SA

(c),(d)

18,000‌

1,631‌

Magnit

PJSC

(c)

24,200‌

—‌

Metro

Inc/CN

32,500‌

1,764‌

Nestle

SA

38,300‌

4,673‌

$

9,940‌

Food

Service

-

0

.40

%

Sodexo

SA

13,000‌

1,289‌

Gas

-

0

.47

%

ENN

Natural

Gas

Co

Ltd

556,000‌

1,488‌

Healthcare

-

Products

-

0

.34

%

Sartorius

Stedim

Biotech

3,100‌

1,081‌

Home

Builders

-

0

.56

%

Open

House

Group

Co

Ltd

47,000‌

1,778‌

Insurance

-

8

.57

%

BB

Seguridade

Participacoes

SA

496,000‌

3,700‌

China

Pacific

Insurance

Group

Co

Ltd

465,000‌

1,278‌

Dai-ichi

Life

Holdings

Inc

97,500‌

2,288‌

iA

Financial

Corp

Inc

27,000‌

1,667‌

Legal

&

General

Group

PLC

798,230‌

2,512‌

Ping

An

Insurance

Group

Co

of

China

Ltd

119,000‌

924‌

Sompo

Holdings

Inc

41,500‌

1,787‌

Steadfast

Group

Ltd

511,000‌

1,898‌

Sun

Life

Financial

Inc

52,500‌

2,638‌

Schedule

of

Investments

International

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

112

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Insurance

(continued)

Swiss

Life

Holding

AG

2,864‌

$

1,695‌

Tokio

Marine

Holdings

Inc

231,111‌

4,841‌

Zurich

Insurance

Group

AG

4,250‌

2,102‌

$

27,330‌

Internet

-

3

.52

%

Alibaba

Group

Holding

Ltd

ADR

(c)

18,000‌

1,984‌

Meituan

(c),(d)

62,600‌

1,399‌

Perion

Network

Ltd

(c)

32,000‌

1,072‌

Pinduoduo

Inc

ADR

(c)

22,000‌

2,156‌

Tencent

Holdings

Ltd

76,000‌

3,703‌

Tencent

Music

Entertainment

Group

ADR

(c)

108,000‌

906‌

$

11,220‌

Iron

&

Steel

-

0

.71

%

Evraz

PLC

204,000‌

163‌

Mineral

Resources

Ltd

33,000‌

2,089‌

$

2,252‌

Leisure

Products

&

Services

-

0

.52

%

BRP

Inc

19,700‌

1,644‌

Machinery

-

Construction

&

Mining

-

0

.56

%

Metso

Outotec

Oyj

156,000‌

1,793‌

Machinery

-

Diversified

-

1

.15

%

Atlas

Copco

AB

-

A

Shares

234,000‌

2,777‌

Interpump

Group

SpA

17,000‌

886‌

$

3,663‌

Mining

-

3

.62

%

Anglo

American

PLC

43,357‌

1,870‌

BHP

Group

Ltd

87,000‌

3,047‌

Glencore

PLC

291,000‌

1,949‌

Pilbara

Minerals

Ltd

(c)

616,000‌

2,096‌

Rio

Tinto

Ltd

29,000‌

2,602‌

$

11,564‌

Oil

&

Gas

-

5

.04

%

BP

PLC

286,000‌

1,728‌

Eni

SpA

117,000‌

1,800‌

Gazprom

PJSC

288,000‌

—‌

LUKOIL

PJSC

20,000‌

—‌

Neste

Oyj

31,000‌

1,482‌

Novatek

PJSC

67,000‌

—‌

Petro

Rio

SA

(c)

242,000‌

2,010‌

PTT

Exploration

&

Production

PCL

553,000‌

2,887‌

Shell

PLC

102,000‌

2,994‌

TotalEnergies

SE

25,000‌

1,546‌

Woodside

Energy

Group

Ltd

63,408‌

1,642‌

$

16,089‌

Packaging

&

Containers

-

0

.39

%

DS

Smith

PLC

282,000‌

1,235‌

Pharmaceuticals

-

5

.64

%

AstraZeneca

PLC

15,000‌

1,965‌

Beijing

Wantai

Biological

Pharmacy

Enterprise

Co

Ltd

55,100‌

1,097‌

CSPC

Pharmaceutical

Group

Ltd

1,051,000‌

1,198‌

Daiichi

Sankyo

Co

Ltd

64,000‌

2,010‌

Ipsen

SA

13,500‌

1,418‌

Novo

Nordisk

A/S

30,845‌

4,269‌

Ono

Pharmaceutical

Co

Ltd

58,000‌

1,259‌

Roche

Holding

AG

7,100‌

2,216‌

Sanofi

26,000‌

2,546‌

$

17,978‌

Private

Equity

-

0

.75

%

3i

Group

PLC

122,000‌

2,380‌

Real

Estate

-

0

.26

%

Daito

Trust

Construction

Co

Ltd

8,500‌

840‌

Retail

-

2

.31

%

Alimentation

Couche-Tard

Inc

78,000‌

3,562‌

Arezzo

Industria

e

Comercio

SA

82,000‌

1,418‌

Cie

Financiere

Richemont

SA

15,500‌

2,390‌

$

7,370‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Semiconductors

-

6

.26

%

Advantest

Corp

41,400‌

$

2,968‌

ASML

Holding

NV

5,000‌

3,308‌

Global

Unichip

Corp

84,000‌

2,217‌

Samsung

Electronics

Co

Ltd

34,700‌

1,728‌

Taiwan

Semiconductor

Manufacturing

Co

Ltd

393,854‌

6,950‌

Zhejiang

Jingsheng

Mechanical

&

Electrical

Co

Ltd

271,975‌

2,783‌

$

19,954‌

Software

-

2

.81

%

Capcom

Co

Ltd

90,000‌

2,916‌

Descartes

Systems

Group

Inc/The

(c)

21,300‌

1,555‌

Kingnet

Network

Co

Ltd

(c)

776,000‌

908‌

Square

Enix

Holdings

Co

Ltd

31,000‌

1,466‌

TIS

Inc

73,000‌

2,105‌

$

8,950‌

Telecommunications

-

0

.44

%

Accton

Technology

Corp

173,000‌

1,414‌

Transportation

-

0

.87

%

TFI

International

Inc

25,000‌

2,784‌

TOTAL

COMMON

STOCKS

$

312,645‌

PREFERRED

STOCKS

-

0

.39

%

Shares

Held

Value

(000's)

Banks

-

0

.39

%

Itau

Unibanco

Holding

SA

0.18%

251,000‌

$

1,252‌

TOTAL

PREFERRED

STOCKS

$

1,252‌

Total

Investments

$

318,591‌

Other

Assets

and

Liabilities

-  0.12%

386‌

TOTAL

NET

ASSETS

-

100.00%

$

318,977‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Current

yield

shown

is

as

of

period

end.

(c)

Non-income

producing

security

(d)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$9,361

or

2.93%

of

net

assets.

Schedule

of

Investments

International

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

113

Portfolio

Summary  (unaudited)

Location

Percent

France

12

.81‌

%

Japan

12

.49‌

%

China

11

.66‌

%

United

Kingdom

9

.44‌

%

Canada

6

.57‌

%

Switzerland

6

.41‌

%

Australia

6

.36‌

%

Taiwan

4

.40‌

%

Korea,

Republic

Of

3

.34‌

%

Brazil

3

.18‌

%

Singapore

2

.73‌

%

Denmark

2

.47‌

%

Spain

2

.26‌

%

Sweden

1

.82‌

%

Italy

1

.56‌

%

Germany

1

.55‌

%

India

1

.50‌

%

United

States

1

.47‌

%

Thailand

1

.43‌

%

Netherlands

1

.04‌

%

Finland

1

.02‌

%

Mexico

0

.96‌

%

South

Africa

0

.63‌

%

Turkey

0

.59‌

%

Indonesia

0

.55‌

%

Poland

0

.51‌

%

Austria

0

.45‌

%

Israel

0

.34‌

%

Ireland

0

.29‌

%

Russian

Federation

0

.05‌

%

Other

Assets

and

Liabilities

0

.12‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

40,701‌

$

36,007‌

$

4,694‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

704‌

37,804‌

38,508‌

—‌

$

704‌

$

78,505‌

$

74,515‌

$

4,694‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

14‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

12‌

—‌

—‌

—‌

$

26‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

LargeCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

114

INVESTMENT

COMPANIES

-

2

.77

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.28

%

iShares

Russell

1000

Growth

ETF

119,700‌

$

27,780‌

Money

Market

Funds

-

2

.49

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

3,165,570‌

3,166‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b),(c)

243,575,027‌

243,575‌

$

246,741‌

TOTAL

INVESTMENT

COMPANIES

$

274,521‌

CONVERTIBLE

PREFERRED

STOCKS

-

0

.14

%

Shares

Held

Value

(000's)

Automobile

Manufacturers

-

0

.02

%

Waymo

LLC

Series

A-2

0.00%

(d),(e),(f)

48,770‌

$

2,301‌

Chemicals

-

0

.03

%

Sila

Nano

Series

F

0.00%

(d),(e),(f)

103,620‌

3,230‌

Software

-

0

.09

%

Nuro

-

Series

C

0.00%

(d),(e),(f)

353,308‌

4,904‌

Rappi

Inc

-

Series

E

0.00%

(d),(e),(f)

103,387‌

3,723‌

$

8,627‌

TOTAL

CONVERTIBLE

PREFERRED

STOCKS

$

14,158‌

COMMON

STOCKS

-

97

.26

%

Shares

Held

Value

(000's)

Advertising

-

0

.15

%

Trade

Desk

Inc/The

(d)

296,260‌

$

15,020‌

Aerospace

&

Defense

-

0

.73

%

Boeing

Co/The

(d)

11,659‌

2,483‌

HEICO

Corp

2,861‌

489‌

HEICO

Corp

-

Class

A

5,026‌

672‌

Howmet

Aerospace

Inc

2,495‌

102‌

L3Harris

Technologies

Inc

278,239‌

59,771‌

Lockheed

Martin

Corp

15,992‌

7,409‌

Northrop

Grumman

Corp

1,164‌

522‌

Spirit

AeroSystems

Holdings

Inc

6,728‌

243‌

TransDigm

Group

Inc

1,352‌

970‌

$

72,661‌

Agriculture

-

0

.00

%

Darling

Ingredients

Inc

(d)

750‌

50‌

Airlines

-

0

.02

%

Delta

Air

Lines

Inc

(d)

43,508‌

1,701‌

Apparel

-

0

.43

%

Deckers

Outdoor

Corp

(d)

1,582‌

676‌

NIKE

Inc

326,213‌

41,537‌

Skechers

USA

Inc

(d)

1,372‌

66‌

Tapestry

Inc

2,421‌

110‌

$

42,389‌

Automobile

Manufacturers

-

0

.77

%

Lucid

Group

Inc

(d),(g)

33,909‌

397‌

Rivian

Automotive

Inc

(d)

2,340,887‌

45,413‌

Tesla

Inc

(d)

176,827‌

30,630‌

$

76,440‌

Automobile

Parts

&

Equipment

-

0

.01

%

Allison

Transmission

Holdings

Inc

5,195‌

234‌

Aptiv

PLC

(d)

4,610‌

522‌

$

756‌

Banks

-

0

.01

%

First

Citizens

BancShares

Inc/NC

186‌

145‌

Signature

Bank/New

York

NY

231‌

30‌

SVB

Financial

Group

(d)

2,546‌

770‌

Western

Alliance

Bancorp

4,395‌

331‌

$

1,276‌

Beverages

-

1

.22

%

Boston

Beer

Co

Inc/The

(d)

610‌

237‌

Brown-Forman

Corp

-

A

Shares

1,817‌

121‌

Brown-Forman

Corp

-

B

Shares

663,917‌

44,203‌

Coca-Cola

Co/The

200,415‌

12,289‌

Monster

Beverage

Corp

(d)

487,370‌

50,726‌

PepsiCo

Inc

79,924‌

13,669‌

$

121,245‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Biotechnology

-

0

.63

%

Alnylam

Pharmaceuticals

Inc

(d)

8,401‌

$

1,902‌

Amgen

Inc

30,686‌

7,745‌

Certara

Inc

(d)

5,099‌

99‌

Exelixis

Inc

(d)

18,763‌

331‌

Guardant

Health

Inc

(d)

6,621‌

208‌

Horizon

Therapeutics

Plc

(d)

14,073‌

1,544‌

Incyte

Corp

(d)

10,728‌

913‌

Ionis

Pharmaceuticals

Inc

(d)

8,821‌

352‌

Maravai

LifeSciences

Holdings

Inc

(d)

7,460‌

109‌

Moderna

Inc

(d)

1,401‌

247‌

Novavax

Inc

(d),(g)

5,335‌

58‌

Regeneron

Pharmaceuticals

Inc

(d)

1,029‌

780‌

Sarepta

Therapeutics

Inc

(d)

5,718‌

715‌

Seagen

Inc

(d)

9,238‌

1,289‌

Ultragenyx

Pharmaceutical

Inc

(d)

3,431‌

156‌

Vertex

Pharmaceuticals

Inc

(d)

143,676‌

46,421‌

$

62,869‌

Building

Materials

-

0

.02

%

Armstrong

World

Industries

Inc

1,829‌

142‌

Eagle

Materials

Inc

2,073‌

303‌

Fortune

Brands

Innovations

Inc

3,060‌

197‌

Louisiana-Pacific

Corp

454‌

31‌

Martin

Marietta

Materials

Inc

372‌

134‌

Masco

Corp

832‌

44‌

Masterbrand

Inc

(d)

3,301‌

30‌

Trex

Co

Inc

(d)

7,763‌

409‌

Vulcan

Materials

Co

4,390‌

805‌

$

2,095‌

Chemicals

-

0

.13

%

Albemarle

Corp

4,095‌

1,152‌

Axalta

Coating

Systems

Ltd

(d)

3,644‌

110‌

CF

Industries

Holdings

Inc

13,384‌

1,134‌

Chemours

Co/The

6,324‌

230‌

Ecolab

Inc

14,978‌

2,319‌

FMC

Corp

2,927‌

390‌

Linde

PLC

7,099‌

2,349‌

Mosaic

Co/The

3,022‌

150‌

PPG

Industries

Inc

8,505‌

1,108‌

RPM

International

Inc

442‌

40‌

Sherwin-Williams

Co/The

16,358‌

3,870‌

Valvoline

Inc

12,172‌

446‌

$

13,298‌

Commercial

Services

-

3

.80

%

Affirm

Holdings

Inc

(d),(g)

379,624‌

6,146‌

Automatic

Data

Processing

Inc

26,224‌

5,922‌

Booz

Allen

Hamilton

Holding

Corp

8,921‌

844‌

Bright

Horizons

Family

Solutions

Inc

(d)

1,132‌

87‌

Cintas

Corp

378,364‌

167,895‌

CoStar

Group

Inc

(d)

3,819‌

297‌

Driven

Brands

Holdings

Inc

(d)

325‌

9‌

Equifax

Inc

4,130‌

918‌

Euronet

Worldwide

Inc

(d)

2,461‌

277‌

FleetCor

Technologies

Inc

(d)

4,966‌

1,037‌

FTI

Consulting

Inc

(d)

960‌

153‌

Gartner

Inc

(d)

5,221‌

1,765‌

Global

Payments

Inc

447,548‌

50,448‌

GXO

Logistics

Inc

(d)

781‌

41‌

H&R

Block

Inc

8,967‌

349‌

MarketAxess

Holdings

Inc

2,523‌

918‌

Mister

Car

Wash

Inc

(d)

4,345‌

45‌

Moody's

Corp

10,307‌

3,327‌

Morningstar

Inc

1,503‌

365‌

Paylocity

Holding

Corp

(d)

23,897‌

4,978‌

PayPal

Holdings

Inc

(d)

24,023‌

1,958‌

Quanta

Services

Inc

5,279‌

803‌

Robert

Half

International

Inc

6,452‌

542‌

Rollins

Inc

14,579‌

531‌

S&P

Global

Inc

324,303‌

121,594‌

Shift4

Payments

Inc

(d)

3,598‌

230‌

Schedule

of

Investments

LargeCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

115

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Commercial

Services

(continued)

Toast

Inc

(d)

16,930‌

$

378‌

TransUnion

9,586‌

688‌

United

Rentals

Inc

2,179‌

961‌

Verisk

Analytics

Inc

10,556‌

1,919‌

WEX

Inc

(d)

2,208‌

408‌

WillScot

Mobile

Mini

Holdings

Corp

(d)

7,399‌

359‌

$

376,192‌

Computers

-

5

.15

%

Accenture

PLC

-

Class

A

126,611‌

35,331‌

Apple

Inc

3,185,511‌

459,638‌

Crowdstrike

Holdings

Inc

(d)

14,290‌

1,513‌

Dell

Technologies

Inc

2,780‌

113‌

EPAM

Systems

Inc

(d)

3,732‌

1,241‌

Fortinet

Inc

(d)

57,297‌

2,999‌

Genpact

Ltd

6,476‌

306‌

Globant

SA

(d)

2,765‌

448‌

HP

Inc

31,619‌

921‌

International

Business

Machines

Corp

41,130‌

5,541‌

KBR

Inc

6,102‌

313‌

NCR

Corp

(d)

500‌

14‌

NetApp

Inc

14,858‌

984‌

Pure

Storage

Inc

(d)

19,117‌

553‌

Thoughtworks

Holding

Inc

(d)

5,783‌

63‌

Zscaler

Inc

(d)

5,768‌

716‌

$

510,694‌

Consumer

Products

-

0

.04

%

Avery

Dennison

Corp

3,401‌

644‌

Church

&

Dwight

Co

Inc

7,474‌

604‌

Clorox

Co/The

6,943‌

1,005‌

Kimberly-Clark

Corp

13,569‌

1,764‌

$

4,017‌

Cosmetics

&

Personal

Care

-

2

.00

%

Colgate-Palmolive

Co

34,837‌

2,597‌

Estee

Lauder

Cos

Inc/The

671,770‌

186,134‌

Olaplex

Holdings

Inc

(d)

8,421‌

53‌

Procter

&

Gamble

Co/The

68,802‌

9,796‌

$

198,580‌

Distribution

&

Wholesale

-

0

.08

%

Copart

Inc

(d)

28,974‌

1,930‌

Core

&

Main

Inc

(d)

1,398‌

31‌

Fastenal

Co

39,127‌

1,978‌

IAA

Inc

(d)

7,539‌

315‌

Pool

Corp

2,600‌

1,003‌

SiteOne

Landscape

Supply

Inc

(d)

1,836‌

278‌

Watsco

Inc

1,184‌

340‌

WESCO

International

Inc

(d)

1,600‌

238‌

WW

Grainger

Inc

3,096‌

1,825‌

$

7,938‌

Diversified

Financial

Services

-

4

.96

%

American

Express

Co

2,579‌

451‌

Ameriprise

Financial

Inc

4,636‌

1,623‌

Apollo

Global

Management

Inc

25,196‌

1,783‌

Blue

Owl

Capital

Inc

28,528‌

359‌

Charles

Schwab

Corp/The

57,725‌

4,469‌

Credit

Acceptance

Corp

(d),(g)

45‌

21‌

LPL

Financial

Holdings

Inc

5,410‌

1,283‌

Mastercard

Inc

919,997‌

340,951‌

Raymond

James

Financial

Inc

1,060‌

120‌

Rocket

Cos

Inc

(g)

4,482‌

42‌

Tradeweb

Markets

Inc

4,624‌

345‌

Upstart

Holdings

Inc

(d),(g)

1,028‌

19‌

UWM

Holdings

Corp

5,956‌

27‌

Visa

Inc

609,112‌

140,224‌

Western

Union

Co/The

8,783‌

124‌

$

491,841‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Electric

-

0

.01

%

AES

Corp/The

8,161‌

$

223‌

Vistra

Corp

15,515‌

358‌

$

581‌

Electrical

Components

&

Equipment

-

0

.76

%

ChargePoint

Holdings

Inc

(d),(g)

17,054‌

207‌

Emerson

Electric

Co

12,811‌

1,156‌

Generac

Holdings

Inc

(d)

606,434‌

73,136‌

Universal

Display

Corp

2,952‌

391‌

$

74,890‌

Electronics

-

0

.80

%

Agilent

Technologies

Inc

18,161‌

2,762‌

Allegion

plc

4,715‌

554‌

Amphenol

Corp

854,916‌

68,196‌

Arrow

Electronics

Inc

(d)

232‌

27‌

Coherent

Corp

(d)

1,368‌

60‌

Honeywell

International

Inc

13,555‌

2,826‌

Jabil

Inc

7,333‌

577‌

Keysight

Technologies

Inc

(d)

11,291‌

2,025‌

Mettler-Toledo

International

Inc

(d)

1,504‌

2,306‌

National

Instruments

Corp

1,154‌

62‌

Vontier

Corp

6,525‌

150‌

$

79,545‌

Energy

-

Alternate

Sources

-

0

.02

%

Enphase

Energy

Inc

(d)

8,945‌

1,980‌

Enviva

Inc

2,078‌

94‌

Plug

Power

Inc

(d),(g)

17,542‌

299‌

$

2,373‌

Engineering

&

Construction

-

0

.00

%

AECOM

551‌

48‌

TopBuild

Corp

(d)

1,874‌

375‌

$

423‌

Entertainment

-

0

.26

%

Caesars

Entertainment

Inc

(d)

9,563‌

498‌

Churchill

Downs

Inc

2,464‌

611‌

DraftKings

Inc

(d)

24,315‌

365‌

Live

Nation

Entertainment

Inc

(d)

294,017‌

23,665‌

Madison

Square

Garden

Sports

Corp

646‌

118‌

Six

Flags

Entertainment

Corp

(d)

2,619‌

70‌

Vail

Resorts

Inc

2,585‌

678‌

$

26,005‌

Environmental

Control

-

0

.04

%

Republic

Services

Inc

896‌

112‌

Tetra

Tech

Inc

1,487‌

231‌

Waste

Management

Inc

26,295‌

4,069‌

$

4,412‌

Food

-

0

.07

%

Grocery

Outlet

Holding

Corp

(d)

461‌

14‌

Hershey

Co/The

8,653‌

1,943‌

Kellogg

Co

9,568‌

656‌

Lamb

Weston

Holdings

Inc

9,794‌

978‌

Performance

Food

Group

Co

(d)

3,192‌

196‌

Pilgrim's

Pride

Corp

(d)

1,673‌

41‌

Sysco

Corp

34,735‌

2,691‌

$

6,519‌

Gas

-

0

.00

%

National

Fuel

Gas

Co

481‌

28‌

Hand

&

Machine

Tools

-

0

.01

%

Lincoln

Electric

Holdings

Inc

3,807‌

635‌

MSA

Safety

Inc

967‌

132‌

$

767‌

Healthcare

-

Products

-

8

.72

%

10X

Genomics

Inc

(d)

5,537‌

259‌

Abbott

Laboratories

15,398‌

1,702‌

Align

Technology

Inc

(d)

336,220‌

90,689‌

Avantor

Inc

(d)

981,628‌

23,461‌

Baxter

International

Inc

5,336‌

244‌

Bio-Techne

Corp

10,581‌

843‌

Bruker

Corp

7,392‌

518‌

Schedule

of

Investments

LargeCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

116

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Products

(continued)

Danaher

Corp

2,994‌

$

791‌

Edwards

Lifesciences

Corp

(d)

1,842,463‌

141,317‌

Exact

Sciences

Corp

(d)

2,149‌

145‌

GE

HealthCare

Technologies

Inc

(d)

1,390‌

97‌

Globus

Medical

Inc

(d)

285‌

21‌

ICU

Medical

Inc

(d)

254‌

49‌

IDEXX

Laboratories

Inc

(d)

5,619‌

2,700‌

Insulet

Corp

(d)

95,790‌

27,522‌

Intuitive

Surgical

Inc

(d)

1,130,321‌

277,709‌

Masimo

Corp

(d)

2,468‌

420‌

Natera

Inc

(d)

6,205‌

266‌

Novocure

Ltd

(d)

7,020‌

640‌

Penumbra

Inc

(d)

2,449‌

613‌

Repligen

Corp

(d)

2,675‌

496‌

ResMed

Inc

9,877‌

2,256‌

Stryker

Corp

407,690‌

103,476‌

Tandem

Diabetes

Care

Inc

(d)

4,120‌

168‌

Thermo

Fisher

Scientific

Inc

324,882‌

185,290‌

Waters

Corp

(d)

4,037‌

1,326‌

West

Pharmaceutical

Services

Inc

5,033‌

1,337‌

$

864,355‌

Healthcare

-

Services

-

3

.08

%

agilon

health

Inc

(d)

11,874‌

258‌

Catalent

Inc

(d)

3,698‌

198‌

Charles

River

Laboratories

International

Inc

(d)

3,196‌

777‌

Chemed

Corp

353‌

178‌

DaVita

Inc

(d)

3,832‌

316‌

Elevance

Health

Inc

5,012‌

2,506‌

Ginkgo

Bioworks

Holdings

Inc

(d)

12,164‌

24‌

HCA

Healthcare

Inc

81,435‌

20,772‌

Humana

Inc

107,116‌

54,811‌

IQVIA

Holdings

Inc

(d)

12,681‌

2,909‌

Molina

Healthcare

Inc

(d)

3,052‌

952‌

Signify

Health

Inc

(d)

592‌

17‌

Sotera

Health

Co

(d)

7,029‌

121‌

Syneos

Health

Inc

(d)

1,217‌

44‌

Teladoc

Health

Inc

(d)

1,129‌

33‌

UnitedHealth

Group

Inc

442,459‌

220,871‌

$

304,787‌

Home

Builders

-

0

.03

%

DR

Horton

Inc

11,303‌

1,116‌

NVR

Inc

(d)

147‌

775‌

PulteGroup

Inc

6,280‌

357‌

Toll

Brothers

Inc

3,867‌

230‌

$

2,478‌

Housewares

-

0

.00

%

Scotts

Miracle-Gro

Co/The

937‌

68‌

Insurance

-

0

.17

%

Aon

PLC

13,204‌

4,208‌

Arch

Capital

Group

Ltd

(d)

7,960‌

512‌

Arthur

J

Gallagher

&

Co

1,610‌

315‌

Assurant

Inc

223‌

30‌

Brown

&

Brown

Inc

1,220‌

72‌

Erie

Indemnity

Co

1,231‌

301‌

Everest

Re

Group

Ltd

815‌

285‌

Lincoln

National

Corp

2,408‌

85‌

Markel

Corp

(d)

207‌

292‌

Marsh

&

McLennan

Cos

Inc

30,263‌

5,293‌

Progressive

Corp/The

34,748‌

4,738‌

RenaissanceRe

Holdings

Ltd

1,617‌

316‌

Ryan

Specialty

Holdings

Inc

(d)

5,587‌

238‌

$

16,685‌

Internet

-

15

.81

%

Airbnb

Inc

(d)

25,666‌

2,852‌

Alphabet

Inc

-

A

Shares

(d)

3,390,166‌

335,084‌

Alphabet

Inc

-

C

Shares

(d)

1,993,709‌

199,112‌

Amazon.com

Inc

(d)

4,490,742‌

463,130‌

Booking

Holdings

Inc

(d)

26,833‌

65,314‌

CDW

Corp/DE

9,189‌

1,801‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Internet

(continued)

Chewy

Inc

(d),(g)

2,175,712‌

$

98,038‌

Coupang

Inc

(d)

1,332,391‌

22,504‌

DoorDash

Inc

-

Class

A

(d)

15,030‌

871‌

eBay

Inc

4,950‌

245‌

Etsy

Inc

(d)

8,593‌

1,182‌

Expedia

Group

Inc

(d)

10,272‌

1,174‌

Gen

Digital

Inc

13,733‌

316‌

GoDaddy

Inc

(d)

1,517‌

125‌

IAC

Inc

(d)

209,694‌

11,848‌

Lyft

Inc

(d)

16,663‌

271‌

Match

Group

Inc

(d)

2,098,090‌

113,549‌

Meta

Platforms

Inc

(d)

447,542‌

66,670‌

Netflix

Inc

(d)

183,701‌

65,004‌

Okta

Inc

(d)

1,379‌

101‌

Opendoor

Technologies

Inc

(d)

9,281‌

20‌

Palo

Alto

Networks

Inc

(d)

20,105‌

3,189‌

Pinterest

Inc

(d)

8,236‌

217‌

Roku

Inc

(d)

2,303‌

132‌

Shopify

Inc

(d)

1,738,863‌

85,674‌

Spotify

Technology

SA

(d)

216,905‌

24,449‌

TripAdvisor

Inc

(d)

626‌

15‌

Uber

Technologies

Inc

(d)

113,840‌

3,521‌

VeriSign

Inc

(d)

697‌

152‌

Wayfair

Inc

(d),(g)

3,323‌

201‌

Wix.com

Ltd

(d)

2,838‌

247‌

Zillow

Group

Inc

-

A

Shares

(d)

268‌

12‌

Zillow

Group

Inc

-

C

Shares

(d)

708‌

31‌

$

1,567,051‌

Leisure

Products

&

Services

-

0

.25

%

Brunswick

Corp/DE

902‌

76‌

Norwegian

Cruise

Line

Holdings

Ltd

(d)

2,191‌

33‌

Peloton

Interactive

Inc

(d)

1,814,383‌

23,460‌

Planet

Fitness

Inc

(d)

4,226‌

358‌

Polaris

Inc

2,804‌

322‌

YETI

Holdings

Inc

(d)

6,058‌

271‌

$

24,520‌

Lodging

-

0

.07

%

Choice

Hotels

International

Inc

2,286‌

281‌

Hilton

Worldwide

Holdings

Inc

13,167‌

1,910‌

Las

Vegas

Sands

Corp

(d)

8,385‌

495‌

Marriott

International

Inc/MD

18,153‌

3,162‌

Travel

+

Leisure

Co

3,991‌

169‌

Wyndham

Hotels

&

Resorts

Inc

4,267‌

331‌

Wynn

Resorts

Ltd

(d)

909‌

94‌

$

6,442‌

Machinery

-

Construction

&

Mining

-

0

.08

%

BWX

Technologies

Inc

2,419‌

147‌

Caterpillar

Inc

31,010‌

7,824‌

Vertiv

Holdings

Co

3,263‌

46‌

$

8,017‌

Machinery

-

Diversified

-

2

.16

%

AGCO

Corp

556‌

77‌

Cognex

Corp

10,992‌

602‌

Deere

&

Co

18,869‌

7,978‌

Graco

Inc

7,823‌

534‌

IDEX

Corp

616,453‌

147,752‌

Ingersoll

Rand

Inc

968,207‌

54,220‌

Middleby

Corp/The

(d)

255‌

40‌

Nordson

Corp

920‌

224‌

Otis

Worldwide

Corp

3,508‌

288‌

Rockwell

Automation

Inc

5,334‌

1,504‌

Toro

Co/The

7,131‌

795‌

Xylem

Inc/NY

1,704‌

177‌

$

214,191‌

Media

-

0

.08

%

Cable

One

Inc

247‌

195‌

Charter

Communications

Inc

(d)

7,335‌

2,819‌

FactSet

Research

Systems

Inc

2,579‌

1,091‌

Liberty

Broadband

Corp

-

A

Shares

(d)

656‌

59‌

Schedule

of

Investments

LargeCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

117

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Media

(continued)

Liberty

Broadband

Corp

-

C

Shares

(d)

3,906‌

$

351‌

Liberty

Media

Corp-Liberty

Formula

One

-

A

Shares

(d)

177‌

11‌

Liberty

Media

Corp-Liberty

Formula

One

-

C

Shares

(d)

1,527‌

108‌

Liberty

Media

Corp-Liberty

SiriusXM

-

A

Shares

1,417‌

57‌

Liberty

Media

Corp-Liberty

SiriusXM

-

C

Shares

(d)

2,922‌

118‌

Nexstar

Media

Group

Inc

204‌

42‌

Walt

Disney

Co/The

(d)

8,305‌

901‌

Warner

Bros

Discovery

Inc

(d)

117,694‌

1,744‌

World

Wrestling

Entertainment

Inc

2,924‌

247‌

$

7,743‌

Metal

Fabrication

&

Hardware

-

0

.01

%

Advanced

Drainage

Systems

Inc

4,356‌

439‌

Valmont

Industries

Inc

197‌

65‌

$

504‌

Mining

-

0

.01

%

MP

Materials

Corp

(d)

6,164‌

200‌

Royal

Gold

Inc

288‌

37‌

Southern

Copper

Corp

3,818‌

287‌

$

524‌

Miscellaneous

Manufacturers

-

0

.09

%

A

O

Smith

Corp

2,099‌

142‌

Axon

Enterprise

Inc

(d)

3,553‌

694‌

Carlisle

Cos

Inc

2,946‌

739‌

Donaldson

Co

Inc

1,407‌

88‌

General

Electric

Co

4,171‌

336‌

Illinois

Tool

Works

Inc

18,794‌

4,436‌

Parker-Hannifin

Corp

1,973‌

643‌

Trane

Technologies

PLC

9,127‌

1,635‌

$

8,713‌

Office

&

Business

Equipment

-

0

.00

%

Zebra

Technologies

Corp

(d)

1,459‌

461‌

Oil

&

Gas

-

0

.16

%

Antero

Resources

Corp

(d)

12,629‌

364‌

Coterra

Energy

Inc

9,023‌

226‌

Devon

Energy

Corp

21,867‌

1,383‌

Diamondback

Energy

Inc

6,853‌

1,001‌

EOG

Resources

Inc

29,247‌

3,868‌

Hess

Corp

15,076‌

2,264‌

Occidental

Petroleum

Corp

44,858‌

2,906‌

Ovintiv

Inc

12,119‌

597‌

PDC

Energy

Inc

3,221‌

218‌

Pioneer

Natural

Resources

Co

8,897‌

2,050‌

Range

Resources

Corp

10,635‌

266‌

Southwestern

Energy

Co

(d)

5,353‌

30‌

Texas

Pacific

Land

Corp

390‌

778‌

$

15,951‌

Oil

&

Gas

Services

-

0

.01

%

Halliburton

Co

27,666‌

1,140‌

Packaging

&

Containers

-

0

.02

%

Ardagh

Metal

Packaging

SA

3,445‌

20‌

Ball

Corp

8,486‌

494‌

Berry

Global

Group

Inc

4,280‌

264‌

Crown

Holdings

Inc

7,061‌

623‌

Graphic

Packaging

Holding

Co

16,023‌

386‌

Sealed

Air

Corp

9,904‌

542‌

$

2,329‌

Pharmaceuticals

-

6

.02

%

AbbVie

Inc

120,919‌

17,866‌

AmerisourceBergen

Corp

10,554‌

1,783‌

Becton

Dickinson

and

Co

242,636‌

61,198‌

Cigna

Corp

467,771‌

148,129‌

Daiichi

Sankyo

Co

Ltd

ADR

622,898‌

19,559‌

Dexcom

Inc

(d)

854,124‌

91,468‌

Eli

Lilly

&

Co

248,934‌

85,670‌

McKesson

Corp

1,902‌

720‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Pharmaceuticals

(continued)

Merck

&

Co

Inc

72,521‌

$

7,790‌

Neurocrine

Biosciences

Inc

(d)

6,441‌

715‌

Zoetis

Inc

977,919‌

161,836‌

$

596,734‌

Pipelines

-

0

.03

%

Cheniere

Energy

Inc

9,738‌

1,488‌

New

Fortress

Energy

Inc

3,330‌

129‌

ONEOK

Inc

3,413‌

234‌

Targa

Resources

Corp

15,354‌

1,152‌

$

3,003‌

Private

Equity

-

0

.06

%

Ares

Management

Corp

10,483‌

870‌

Blackstone

Inc

47,889‌

4,595‌

$

5,465‌

Real

Estate

-

0

.01

%

CBRE

Group

Inc

(d)

10,643‌

910‌

REITs

-

1

.38

%

American

Tower

Corp

24,346‌

5,439‌

Apartment

Income

REIT

Corp

862‌

33‌

Camden

Property

Trust

590‌

73‌

Crown

Castle

Inc

29,518‌

4,372‌

Equinix

Inc

4,762‌

3,515‌

Equity

LifeStyle

Properties

Inc

7,397‌

531‌

Extra

Space

Storage

Inc

1,070‌

169‌

Iron

Mountain

Inc

14,693‌

802‌

Lamar

Advertising

Co

5,170‌

551‌

Public

Storage

8,485‌

2,582‌

SBA

Communications

Corp

392,631‌

116,819‌

Simon

Property

Group

Inc

10,754‌

1,381‌

$

136,267‌

Retail

-

5

.53

%

Advance

Auto

Parts

Inc

327‌

50‌

AutoZone

Inc

(d)

1,178‌

2,873‌

Best

Buy

Co

Inc

4,275‌

379‌

BJ's

Wholesale

Club

Holdings

Inc

(d)

5,744‌

416‌

Burlington

Stores

Inc

(d)

4,191‌

963‌

CarMax

Inc

(d)

1,262‌

89‌

Carvana

Co

(d),(g)

7,053‌

72‌

Chipotle

Mexican

Grill

Inc

(d)

23,116‌

38,058‌

Costco

Wholesale

Corp

357,128‌

182,543‌

Darden

Restaurants

Inc

6,078‌

899‌

Dollar

General

Corp

220,255‌

51,451‌

Dollar

Tree

Inc

(d)

4,476‌

672‌

Domino's

Pizza

Inc

1,784‌

630‌

Five

Below

Inc

(d)

3,708‌

731‌

Floor

&

Decor

Holdings

Inc

(d)

7,014‌

637‌

Freshpet

Inc

(d)

1,726‌

109‌

Genuine

Parts

Co

763‌

128‌

Home

Depot

Inc/The

41,001‌

13,291‌

Leslie's

Inc

(d)

9,926‌

154‌

Lowe's

Cos

Inc

36,667‌

7,636‌

Lululemon

Athletica

Inc

(d)

415,538‌

127,521‌

McDonald's

Corp

12,286‌

3,285‌

Nordstrom

Inc

6,596‌

129‌

Ollie's

Bargain

Outlet

Holdings

Inc

(d)

240‌

13‌

O'Reilly

Automotive

Inc

(d)

1,742‌

1,380‌

RH

(d)

502‌

157‌

Ross

Stores

Inc

814,663‌

96,285‌

Starbucks

Corp

28,244‌

3,083‌

Target

Corp

17,458‌

3,005‌

TJX

Cos

Inc/The

79,421‌

6,501‌

Tractor

Supply

Co

7,549‌

1,721‌

Ulta

Beauty

Inc

(d)

3,446‌

1,771‌

Victoria's

Secret

&

Co

(d)

4,016‌

169‌

Wendy's

Co/The

11,729‌

262‌

Williams-Sonoma

Inc

3,582‌

483‌

Yum!

Brands

Inc

2,238‌

292‌

$

547,838‌

Schedule

of

Investments

LargeCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

118

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Semiconductors

-

6

.04

%

Advanced

Micro

Devices

Inc

(d)

431,412‌

$

32,421‌

Allegro

MicroSystems

Inc

(d)

4,516‌

172‌

Analog

Devices

Inc

7,055‌

1,210‌

Applied

Materials

Inc

58,752‌

6,550‌

ASML

Holding

NV

-

NY

Reg

Shares

150,667‌

99,567‌

Broadcom

Inc

27,021‌

15,808‌

Entegris

Inc

10,084‌

814‌

GLOBALFOUNDRIES

Inc

(d),(g)

1,026‌

61‌

KLA

Corp

9,698‌

3,806‌

Lam

Research

Corp

9,358‌

4,680‌

Lattice

Semiconductor

Corp

(d)

9,220‌

699‌

Marvell

Technology

Inc

230,965‌

9,966‌

Microchip

Technology

Inc

31,081‌

2,412‌

Micron

Technology

Inc

14,046‌

847‌

Monolithic

Power

Systems

Inc

3,085‌

1,316‌

NVIDIA

Corp

1,465,528‌

286,319‌

NXP

Semiconductors

NV

608,372‌

112,129‌

ON

Semiconductor

Corp

(d)

18,401‌

1,352‌

QUALCOMM

Inc

76,665‌

10,213‌

Teradyne

Inc

9,665‌

983‌

Texas

Instruments

Inc

42,530‌

7,537‌

$

598,862‌

Shipbuilding

-

0

.00

%

Huntington

Ingalls

Industries

Inc

587‌

129‌

Software

-

24

.39

%

Adobe

Inc

(d)

366,206‌

135,621‌

Alteryx

Inc

(d)

4,127‌

229‌

ANSYS

Inc

(d)

3,116‌

830‌

AppLovin

Corp

(d)

15,284‌

194‌

Aspen

Technology

Inc

(d)

1,833‌

364‌

Atlassian

Corp

(d)

701,321‌

113,347‌

Autodesk

Inc

(d)

736,028‌

158,364‌

Bentley

Systems

Inc

11,456‌

447‌

Black

Knight

Inc

(d)

976‌

59‌

Broadridge

Financial

Solutions

Inc

7,199‌

1,082‌

Cadence

Design

Systems

Inc

(d)

287,684‌

52,598‌

CCC

Intelligent

Solutions

Holdings

Inc

(d)

4,451‌

41‌

Ceridian

HCM

Holding

Inc

(d)

1,766‌

128‌

Cloudflare

Inc

(d)

19,340‌

1,023‌

Confluent

Inc

(d)

8,439‌

195‌

Coupa

Software

Inc

(d)

2,842‌

227‌

Datadog

Inc

(d)

18,066‌

1,351‌

Definitive

Healthcare

Corp

(d)

1,187‌

15‌

DocuSign

Inc

(d)

13,425‌

814‌

DoubleVerify

Holdings

Inc

(d)

4,365‌

119‌

Doximity

Inc

(d)

3,450‌

122‌

Dropbox

Inc

-

A

Shares

(d)

17,113‌

398‌

Dynatrace

Inc

(d)

13,514‌

519‌

Elastic

NV

(d)

5,181‌

305‌

Electronic

Arts

Inc

1,180‌

152‌

Fair

Isaac

Corp

(d)

1,669‌

1,111‌

Fiserv

Inc

(d)

1,253,805‌

133,756‌

Five9

Inc

(d)

4,693‌

370‌

HashiCorp

Inc

(d)

171,957‌

5,534‌

HubSpot

Inc

(d)

3,164‌

1,098‌

Informatica

Inc

(d)

473‌

8‌

Intuit

Inc

792,956‌

335,159‌

Jack

Henry

&

Associates

Inc

4,931‌

888‌

Jamf

Holding

Corp

(d)

3,801‌

76‌

Magic

Leap

Inc

(d),(e),(f)

10,706‌

206‌

Manhattan

Associates

Inc

(d)

2,629‌

343‌

Microsoft

Corp

3,235,437‌

801,773‌

MongoDB

Inc

(d)

100,961‌

21,627‌

MSCI

Inc

3,999‌

2,126‌

nCino

Inc

(d)

817‌

23‌

New

Relic

Inc

(d)

3,505‌

214‌

Nutanix

Inc

(d)

8,185‌

228‌

Oracle

Corp

71,859‌

6,357‌

Palantir

Technologies

Inc

(d)

126,177‌

982‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Software

(continued)

Paychex

Inc

22,051‌

$

2,555‌

Paycom

Software

Inc

(d)

3,502‌

1,134‌

Pegasystems

Inc

2,727‌

106‌

Playtika

Holding

Corp

(d)

6,414‌

67‌

Procore

Technologies

Inc

(d)

3,416‌

191‌

PTC

Inc

(d)

7,157‌

965‌

RingCentral

Inc

(d)

5,787‌

226‌

ROBLOX

Corp

(d)

30,616‌

1,139‌

Roper

Technologies

Inc

360,041‌

153,647‌

Salesforce

Inc

(d)

395,132‌

66,370‌

SentinelOne

Inc

(d)

8,853‌

134‌

ServiceNow

Inc

(d)

636,541‌

289,709‌

Smartsheet

Inc

(d)

8,604‌

372‌

Snowflake

Inc

-

Class

A

(d)

19,627‌

3,070‌

Splunk

Inc

(d)

11,122‌

1,065‌

Stripe

Inc

-

Class

B

(d),(e),(f)

114,126‌

2,112‌

Synopsys

Inc

(d)

10,421‌

3,686‌

Take-Two

Interactive

Software

Inc

(d)

9,199‌

1,042‌

Teradata

Corp

(d)

3,838‌

134‌

Twilio

Inc

(d)

4,405‌

264‌

Tyler

Technologies

Inc

(d)

2,443‌

789‌

UiPath

Inc

(d)

2,330‌

36‌

Unity

Software

Inc

(d)

11,426‌

406‌

Veeva

Systems

Inc

(d)

607,405‌

103,593‌

VMware

Inc

(d)

7,040‌

862‌

Workday

Inc

(d)

13,654‌

2,477‌

Zoom

Video

Communications

Inc

(d)

8,651‌

649‌

ZoomInfo

Technologies

Inc

(d)

18,678‌

527‌

$

2,417,750‌

Telecommunications

-

0

.54

%

Arista

Networks

Inc

(d)

424,074‌

53,442‌

Corning

Inc

3,027‌

105‌

Ubiquiti

Inc

117‌

34‌

$

53,581‌

Toys,

Games

&

Hobbies

-

0

.00

%

Mattel

Inc

(d)

11,511‌

236‌

Transportation

-

0

.39

%

CH

Robinson

Worldwide

Inc

2,135‌

214‌

CSX

Corp

36,246‌

1,121‌

Expeditors

International

of

Washington

Inc

3,351‌

362‌

JB

Hunt

Transport

Services

Inc

5,051‌

955‌

Landstar

System

Inc

2,230‌

385‌

Old

Dominion

Freight

Line

Inc

57,198‌

19,061‌

RXO

Inc

(d)

570‌

10‌

Union

Pacific

Corp

42,048‌

8,586‌

United

Parcel

Service

Inc

44,862‌

8,310‌

XPO

Inc

(d)

570‌

23‌

$

39,027‌

TOTAL

COMMON

STOCKS

$

9,640,366‌

Total

Investments

$

9,929,045‌

Other

Assets

and

Liabilities

-  (0.17)%

(

16,487‌

)

TOTAL

NET

ASSETS

-

100.00%

$

9,912,558‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$13,676

or

0.14%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

(f)

Restricted

Security.

Please

see

Restricted

Securities

sub-schedule

for

additional

information.

Schedule

of

Investments

LargeCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

119

(g)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$14,059

or

0.14%

of

net

assets.

Portfolio

Summary  (unaudited)

Sector

Percent

Technology

35

.67‌

%

Consumer,

Non-cyclical

25

.58‌

%

Communications

16

.58‌

%

Consumer,

Cyclical

7

.47‌

%

Financial

6

.59‌

%

Industrial

5

.11‌

%

Money

Market

Funds

2

.49‌

%

Investment

Companies

0

.28‌

%

Energy

0

.22‌

%

Basic

Materials

0

.17‌

%

Utilities

0

.01‌

%

Other

Assets

and

Liabilities

(

0

.17‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

689,311‌

$

445,736‌

$

243,575‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

186,380‌

315,897‌

502,277‌

—‌

$

186,380‌

$

1,005,208‌

$

948,013‌

$

243,575‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

1,292‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

755‌

—‌

—‌

—‌

$

2,047‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Restricted

Securities

Security

Name

Acquisition

Date

Cost

Value

Percent

of

Net

Assets

Magic

Leap

Inc

01/20/2016-10/12/2017

$

5,204‌

$

206‌

0.00%

Nuro

-

Series

C  

0.00%

10/30/2020

4,612‌

4,904‌

0.05%

Rappi

Inc

-

Series

E  

0.00%

09/08/2020

6,177‌

3,723‌

0.04%

Sila

Nano

Series

F  

0.00%

01/07/2021

4,277‌

3,230‌

0.03%

Stripe

Inc

-

Class

B

12/17/2019

1,791‌

2,112‌

0.02%

Waymo

LLC

Series

A-2  

0.00%

05/08/2020

4,188‌

2,301‌

0.02%

Total

$

16,476‌

0.16%

Amounts

in

thousands.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

500

Emini;

March

2023

Long

180‌

$

36,810‌

$

1,568‌

Total

$

1,568‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

LargeCap

S&P

500

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

120

INVESTMENT

COMPANIES

-

1

.83

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.33

%

iShares

Core

S&P

500

ETF

47,300‌

$

19,313‌

Money

Market

Funds

-

1

.50

%

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b)

86,133,653‌

86,134‌

TOTAL

INVESTMENT

COMPANIES

$

105,447‌

COMMON

STOCKS

-

98

.01

%

Shares

Held

Value

(000's)

Advertising

-

0

.09

%

Interpublic

Group

of

Cos

Inc/The

64,290‌

$

2,344‌

Omnicom

Group

Inc

33,742‌

2,902‌

$

5,246‌

Aerospace

&

Defense

-

1

.68

%

Boeing

Co/The

(c)

92,699‌

19,745‌

General

Dynamics

Corp

37,251‌

8,682‌

Howmet

Aerospace

Inc

60,927‌

2,479‌

L3Harris

Technologies

Inc

31,507‌

6,768‌

Lockheed

Martin

Corp

38,596‌

17,880‌

Northrop

Grumman

Corp

23,941‌

10,727‌

Raytheon

Technologies

Corp

243,250‌

24,288‌

TransDigm

Group

Inc

8,547‌

6,135‌

$

96,704‌

Agriculture

-

0

.83

%

Altria

Group

Inc

296,551‌

13,357‌

Archer-Daniels-Midland

Co

90,899‌

7,531‌

Philip

Morris

International

Inc

256,510‌

26,738‌

$

47,626‌

Airlines

-

0

.23

%

Alaska

Air

Group

Inc

(c)

20,987‌

1,077‌

American

Airlines

Group

Inc

(c)

107,537‌

1,736‌

Delta

Air

Lines

Inc

(c)

106,095‌

4,148‌

Southwest

Airlines

Co

98,247‌

3,514‌

United

Airlines

Holdings

Inc

(c)

54,096‌

2,649‌

$

13,124‌

Apparel

-

0

.54

%

NIKE

Inc

208,438‌

26,540‌

Ralph

Lauren

Corp

6,800‌

842‌

Tapestry

Inc

39,872‌

1,817‌

VF

Corp

54,650‌

1,691‌

$

30,890‌

Automobile

Manufacturers

-

1

.86

%

Cummins

Inc

23,334‌

5,823‌

Ford

Motor

Co

653,543‌

8,829‌

General

Motors

Co

235,082‌

9,243‌

PACCAR

Inc

57,544‌

6,290‌

Tesla

Inc

(c)

444,133‌

76,933‌

$

107,118‌

Automobile

Parts

&

Equipment

-

0

.12

%

Aptiv

PLC

(c)

44,833‌

5,070‌

BorgWarner

Inc

38,746‌

1,832‌

$

6,902‌

Banks

-

4

.84

%

Bank

of

America

Corp

1,154,893‌

40,976‌

Bank

of

New

York

Mellon

Corp/The

121,707‌

6,155‌

Citigroup

Inc

320,488‌

16,736‌

Citizens

Financial

Group

Inc

81,493‌

3,530‌

Comerica

Inc

21,668‌

1,588‌

Fifth

Third

Bancorp

113,576‌

4,122‌

First

Republic

Bank/CA

30,268‌

4,264‌

Goldman

Sachs

Group

Inc/The

56,035‌

20,498‌

Huntington

Bancshares

Inc/OH

238,726‌

3,621‌

JPMorgan

Chase

&

Co

485,354‌

67,930‌

KeyCorp

154,377‌

2,963‌

M&T

Bank

Corp

28,563‌

4,456‌

Morgan

Stanley

218,136‌

21,231‌

Northern

Trust

Corp

34,485‌

3,344‌

PNC

Financial

Services

Group

Inc/The

66,737‌

11,040‌

Regions

Financial

Corp

154,621‌

3,640‌

Signature

Bank/New

York

NY

10,411‌

1,343‌

State

Street

Corp

60,717‌

5,545‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

(continued)

SVB

Financial

Group

(c)

9,779‌

$

2,958‌

Truist

Financial

Corp

219,538‌

10,843‌

US

Bancorp

223,730‌

11,142‌

Wells

Fargo

&

Co

630,517‌

29,552‌

Zions

Bancorp

NA

24,758‌

1,316‌

$

278,793‌

Beverages

-

1

.73

%

Brown-Forman

Corp

-

B

Shares

30,256‌

2,014‌

Coca-Cola

Co/The

644,015‌

39,491‌

Constellation

Brands

Inc

26,860‌

6,219‌

Keurig

Dr

Pepper

Inc

140,606‌

4,961‌

Molson

Coors

Beverage

Co

31,107‌

1,636‌

Monster

Beverage

Corp

(c)

63,024‌

6,559‌

PepsiCo

Inc

227,968‌

38,987‌

$

99,867‌

Biotechnology

-

1

.75

%

Amgen

Inc

88,290‌

22,285‌

Biogen

Inc

(c)

23,829‌

6,932‌

Bio-Rad

Laboratories

Inc

(c)

3,562‌

1,665‌

Corteva

Inc

118,227‌

7,620‌

Gilead

Sciences

Inc

207,537‌

17,421‌

Illumina

Inc

(c)

26,028‌

5,575‌

Incyte

Corp

(c)

30,554‌

2,601‌

Moderna

Inc

(c)

54,671‌

9,625‌

Regeneron

Pharmaceuticals

Inc

(c)

17,719‌

13,439‌

Vertex

Pharmaceuticals

Inc

(c)

42,473‌

13,723‌

$

100,886‌

Building

Materials

-

0

.43

%

Carrier

Global

Corp

138,376‌

6,300‌

Johnson

Controls

International

plc

113,957‌

7,928‌

Martin

Marietta

Materials

Inc

10,275‌

3,695‌

Masco

Corp

37,317‌

1,985‌

Mohawk

Industries

Inc

(c)

8,725‌

1,048‌

Vulcan

Materials

Co

21,991‌

4,032‌

$

24,988‌

Chemicals

-

1

.72

%

Air

Products

and

Chemicals

Inc

36,699‌

11,762‌

Albemarle

Corp

19,384‌

5,456‌

Celanese

Corp

16,505‌

2,033‌

CF

Industries

Holdings

Inc

32,465‌

2,750‌

Dow

Inc

116,451‌

6,911‌

DuPont

de

Nemours

Inc

82,204‌

6,079‌

Eastman

Chemical

Co

19,856‌

1,751‌

Ecolab

Inc

41,002‌

6,348‌

FMC

Corp

20,843‌

2,775‌

International

Flavors

&

Fragrances

Inc

42,187‌

4,744‌

Linde

PLC

81,806‌

27,073‌

LyondellBasell

Industries

NV

42,026‌

4,064‌

Mosaic

Co/The

56,340‌

2,791‌

PPG

Industries

Inc

38,888‌

5,069‌

Sherwin-Williams

Co/The

39,020‌

9,232‌

$

98,838‌

Commercial

Services

-

1

.85

%

Automatic

Data

Processing

Inc

68,640‌

15,500‌

Cintas

Corp

14,282‌

6,337‌

CoStar

Group

Inc

(c)

67,293‌

5,242‌

Equifax

Inc

20,260‌

4,502‌

FleetCor

Technologies

Inc

(c)

12,205‌

2,549‌

Gartner

Inc

(c)

13,076‌

4,421‌

Global

Payments

Inc

44,744‌

5,044‌

MarketAxess

Holdings

Inc

6,227‌

2,266‌

Moody's

Corp

26,069‌

8,414‌

PayPal

Holdings

Inc

(c)

188,641‌

15,372‌

Quanta

Services

Inc

23,645‌

3,599‌

Robert

Half

International

Inc

17,954‌

1,507‌

Rollins

Inc

38,298‌

1,394‌

S&P

Global

Inc

55,102‌

20,660‌

United

Rentals

Inc

11,469‌

5,057‌

Schedule

of

Investments

LargeCap

S&P

500

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

121

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Commercial

Services

(continued)

Verisk

Analytics

Inc

25,877‌

$

4,704‌

$

106,568‌

Computers

-

7

.62

%

Accenture

PLC

-

Class

A

104,257‌

29,093‌

Apple

Inc

2,474,364‌

357,026‌

Cognizant

Technology

Solutions

Corp

85,039‌

5,676‌

DXC

Technology

Co

(c)

38,067‌

1,094‌

EPAM

Systems

Inc

(c)

9,516‌

3,166‌

Fortinet

Inc

(c)

107,295‌

5,616‌

Hewlett

Packard

Enterprise

Co

212,910‌

3,434‌

HP

Inc

146,478‌

4,268‌

International

Business

Machines

Corp

149,604‌

20,156‌

Leidos

Holdings

Inc

22,617‌

2,235‌

NetApp

Inc

35,968‌

2,382‌

Seagate

Technology

Holdings

PLC

31,772‌

2,154‌

Western

Digital

Corp

(c)

52,560‌

2,310‌

$

438,610‌

Consumer

Products

-

0

.28

%

Avery

Dennison

Corp

13,397‌

2,538‌

Church

&

Dwight

Co

Inc

40,351‌

3,263‌

Clorox

Co/The

20,416‌

2,954‌

Kimberly-Clark

Corp

55,844‌

7,260‌

$

16,015‌

Cosmetics

&

Personal

Care

-

1

.33

%

Colgate-Palmolive

Co

138,201‌

10,300‌

Estee

Lauder

Cos

Inc/The

38,267‌

10,603‌

Procter

&

Gamble

Co/The

392,113‌

55,829‌

$

76,732‌

Distribution

&

Wholesale

-

0

.33

%

Copart

Inc

(c)

70,906‌

4,723‌

Fastenal

Co

94,773‌

4,791‌

LKQ

Corp

41,999‌

2,476‌

Pool

Corp

6,462‌

2,492‌

WW

Grainger

Inc

7,442‌

4,387‌

$

18,869‌

Diversified

Financial

Services

-

3

.97

%

American

Express

Co

98,915‌

17,303‌

Ameriprise

Financial

Inc

17,610‌

6,166‌

BlackRock

Inc

24,853‌

18,869‌

Capital

One

Financial

Corp

63,161‌

7,516‌

Cboe

Global

Markets

Inc

17,552‌

2,157‌

Charles

Schwab

Corp/The

252,391‌

19,540‌

CME

Group

Inc

59,523‌

10,515‌

Discover

Financial

Services

45,209‌

5,277‌

Franklin

Resources

Inc

47,003‌

1,467‌

Intercontinental

Exchange

Inc

92,422‌

9,940‌

Invesco

Ltd

75,254‌

1,393‌

Mastercard

Inc

140,465‌

52,056‌

Nasdaq

Inc

56,090‌

3,376‌

Raymond

James

Financial

Inc

32,033‌

3,612‌

Synchrony

Financial

74,551‌

2,738‌

T

Rowe

Price

Group

Inc

36,977‌

4,307‌

Visa

Inc

270,543‌

62,282‌

$

228,514‌

Electric

-

2

.72

%

AES

Corp/The

110,524‌

3,029‌

Alliant

Energy

Corp

41,535‌

2,244‌

Ameren

Corp

42,776‌

3,716‌

American

Electric

Power

Co

Inc

85,028‌

7,989‌

CenterPoint

Energy

Inc

104,167‌

3,138‌

CMS

Energy

Corp

48,027‌

3,035‌

Consolidated

Edison

Inc

58,718‌

5,596‌

Constellation

Energy

Corp

54,110‌

4,619‌

Dominion

Energy

Inc

137,880‌

8,775‌

DTE

Energy

Co

32,058‌

3,731‌

Duke

Energy

Corp

127,421‌

13,054‌

Edison

International

63,188‌

4,354‌

Entergy

Corp

33,669‌

3,646‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Electric

(continued)

Evergy

Inc

37,980‌

$

2,379‌

Eversource

Energy

57,633‌

4,745‌

Exelon

Corp

164,433‌

6,937‌

FirstEnergy

Corp

89,876‌

3,680‌

NextEra

Energy

Inc

328,814‌

24,539‌

NRG

Energy

Inc

38,122‌

1,305‌

PG&E

Corp

(c)

266,410‌

4,236‌

Pinnacle

West

Capital

Corp

18,720‌

1,396‌

PPL

Corp

121,837‌

3,606‌

Public

Service

Enterprise

Group

Inc

82,560‌

5,113‌

Sempra

Energy

52,011‌

8,339‌

Southern

Co/The

180,141‌

12,192‌

WEC

Energy

Group

Inc

52,194‌

4,906‌

Xcel

Energy

Inc

90,552‌

6,227‌

$

156,526‌

Electrical

Components

&

Equipment

-

0

.27

%

AMETEK

Inc

37,999‌

5,507‌

Emerson

Electric

Co

97,841‌

8,827‌

Generac

Holdings

Inc

(c)

10,484‌

1,264‌

$

15,598‌

Electronics

-

1

.16

%

Agilent

Technologies

Inc

48,987‌

7,450‌

Allegion

plc

14,535‌

1,709‌

Amphenol

Corp

98,469‌

7,855‌

Fortive

Corp

58,546‌

3,983‌

Garmin

Ltd

25,373‌

2,509‌

Honeywell

International

Inc

111,247‌

23,193‌

Keysight

Technologies

Inc

(c)

29,587‌

5,306‌

Mettler-Toledo

International

Inc

(c)

3,690‌

5,657‌

TE

Connectivity

Ltd

52,634‌

6,692‌

Trimble

Inc

(c)

40,810‌

2,369‌

$

66,723‌

Energy

-

Alternate

Sources

-

0

.19

%

Enphase

Energy

Inc

(c)

22,490‌

4,979‌

First

Solar

Inc

(c)

16,404‌

2,913‌

SolarEdge

Technologies

Inc

(c)

9,249‌

2,952‌

$

10,844‌

Engineering

&

Construction

-

0

.05

%

Jacobs

Solutions

Inc

21,114‌

2,609‌

Entertainment

-

0

.06

%

Caesars

Entertainment

Inc

(c)

35,503‌

1,848‌

Live

Nation

Entertainment

Inc

(c)

23,635‌

1,903‌

$

3,751‌

Environmental

Control

-

0

.27

%

Pentair

PLC

27,219‌

1,507‌

Republic

Services

Inc

33,986‌

4,242‌

Waste

Management

Inc

61,810‌

9,564‌

$

15,313‌

Food

-

1

.14

%

Campbell

Soup

Co

33,231‌

1,726‌

Conagra

Brands

Inc

79,301‌

2,949‌

General

Mills

Inc

98,211‌

7,696‌

Hershey

Co/The

24,318‌

5,462‌

Hormel

Foods

Corp

47,900‌

2,170‌

J

M

Smucker

Co/The

17,631‌

2,694‌

Kellogg

Co

42,352‌

2,905‌

Kraft

Heinz

Co/The

131,747‌

5,340‌

Kroger

Co/The

107,783‌

4,810‌

Lamb

Weston

Holdings

Inc

23,799‌

2,377‌

McCormick

&

Co

Inc/MD

41,465‌

3,115‌

Mondelez

International

Inc

225,967‌

14,787‌

Sysco

Corp

83,855‌

6,495‌

Tyson

Foods

Inc

47,922‌

3,151‌

$

65,677‌

Forest

Products

&

Paper

-

0

.04

%

International

Paper

Co

58,854‌

2,461‌

Schedule

of

Investments

LargeCap

S&P

500

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

122

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Gas

-

0

.08

%

Atmos

Energy

Corp

23,147‌

$

2,721‌

NiSource

Inc

67,201‌

1,865‌

$

4,586‌

Hand

&

Machine

Tools

-

0

.08

%

Snap-on

Inc

8,795‌

2,188‌

Stanley

Black

&

Decker

Inc

24,479‌

2,186‌

$

4,374‌

Healthcare

-

Products

-

3

.74

%

Abbott

Laboratories

288,509‌

31,895‌

Align

Technology

Inc

(c)

12,019‌

3,242‌

Baxter

International

Inc

83,415‌

3,811‌

Bio-Techne

Corp

25,973‌

2,069‌

Boston

Scientific

Corp

(c)

237,002‌

10,962‌

Cooper

Cos

Inc/The

8,165‌

2,849‌

Danaher

Corp

108,409‌

28,661‌

DENTSPLY

SIRONA

Inc

35,560‌

1,310‌

Edwards

Lifesciences

Corp

(c)

102,301‌

7,847‌

GE

HealthCare

Technologies

Inc

(c)

60,267‌

4,190‌

Hologic

Inc

(c)

41,309‌

3,361‌

IDEXX

Laboratories

Inc

(c)

13,705‌

6,585‌

Intuitive

Surgical

Inc

(c)

58,476‌

14,367‌

Medtronic

PLC

219,933‌

18,406‌

PerkinElmer

Inc

20,885‌

2,872‌

ResMed

Inc

24,238‌

5,535‌

STERIS

PLC

16,517‌

3,411‌

Stryker

Corp

55,730‌

14,145‌

Teleflex

Inc

7,761‌

1,889‌

Thermo

Fisher

Scientific

Inc

64,896‌

37,012‌

Waters

Corp

(c)

9,831‌

3,230‌

West

Pharmaceutical

Services

Inc

12,249‌

3,253‌

Zimmer

Biomet

Holdings

Inc

34,723‌

4,422‌

$

215,324‌

Healthcare

-

Services

-

2

.54

%

Catalent

Inc

(c)

29,778‌

1,595‌

Centene

Corp

(c)

93,700‌

7,144‌

Charles

River

Laboratories

International

Inc

(c)

8,419‌

2,048‌

DaVita

Inc

(c)

9,095‌

749‌

Elevance

Health

Inc

39,519‌

19,759‌

HCA

Healthcare

Inc

35,086‌

8,950‌

Humana

Inc

20,948‌

10,719‌

IQVIA

Holdings

Inc

(c)

30,736‌

7,051‌

Laboratory

Corp

of

America

Holdings

14,661‌

3,696‌

Molina

Healthcare

Inc

(c)

9,663‌

3,013‌

Quest

Diagnostics

Inc

18,846‌

2,798‌

UnitedHealth

Group

Inc

154,605‌

77,177‌

Universal

Health

Services

Inc

10,617‌

1,574‌

$

146,273‌

Home

Builders

-

0

.25

%

DR

Horton

Inc

51,792‌

5,111‌

Lennar

Corp

-

A

Shares

42,155‌

4,317‌

NVR

Inc

(c)

498‌

2,624‌

PulteGroup

Inc

37,698‌

2,145‌

$

14,197‌

Home

Furnishings

-

0

.02

%

Whirlpool

Corp

9,013‌

1,402‌

Housewares

-

0

.02

%

Newell

Brands

Inc

62,278‌

994‌

Insurance

-

3

.95

%

Aflac

Inc

93,628‌

6,882‌

Allstate

Corp/The

43,885‌

5,638‌

American

International

Group

Inc

122,941‌

7,772‌

Aon

PLC

34,228‌

10,908‌

Arch

Capital

Group

Ltd

(c)

61,202‌

3,938‌

Arthur

J

Gallagher

&

Co

34,886‌

6,828‌

Assurant

Inc

8,743‌

1,159‌

Berkshire

Hathaway

Inc

-

Class

B

(c)

298,127‌

92,872‌

Brown

&

Brown

Inc

38,896‌

2,278‌

Chubb

Ltd

68,678‌

15,624‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Insurance

(continued)

Cincinnati

Financial

Corp

26,010‌

$

2,943‌

Everest

Re

Group

Ltd

6,481‌

2,266‌

Globe

Life

Inc

14,967‌

1,809‌

Hartford

Financial

Services

Group

Inc/The

52,637‌

4,085‌

Lincoln

National

Corp

25,481‌

903‌

Loews

Corp

32,610‌

2,005‌

Marsh

&

McLennan

Cos

Inc

82,075‌

14,356‌

MetLife

Inc

109,056‌

7,963‌

Principal

Financial

Group

Inc

37,654‌

3,485‌

Progressive

Corp/The

96,810‌

13,200‌

Prudential

Financial

Inc

60,894‌

6,390‌

Travelers

Cos

Inc/The

38,778‌

7,411‌

W

R

Berkley

Corp

33,823‌

2,372‌

Willis

Towers

Watson

PLC

17,911‌

4,553‌

$

227,640‌

Internet

-

7

.95

%

Alphabet

Inc

-

A

Shares

(c)

988,346‌

97,688‌

Alphabet

Inc

-

C

Shares

(c)

876,130‌

87,499‌

Amazon.com

Inc

(c)

1,468,609‌

151,458‌

Booking

Holdings

Inc

(c)

6,419‌

15,624‌

CDW

Corp/DE

22,402‌

4,391‌

eBay

Inc

89,794‌

4,445‌

Etsy

Inc

(c)

20,799‌

2,862‌

Expedia

Group

Inc

(c)

24,915‌

2,848‌

F5

Inc

(c)

9,904‌

1,462‌

Gen

Digital

Inc

95,926‌

2,207‌

Match

Group

Inc

(c)

46,217‌

2,501‌

Meta

Platforms

Inc

(c)

372,086‌

55,430‌

Netflix

Inc

(c)

73,636‌

26,057‌

VeriSign

Inc

(c)

15,263‌

3,328‌

$

457,800‌

Iron

&

Steel

-

0

.18

%

Nucor

Corp

42,451‌

7,175‌

Steel

Dynamics

Inc

27,598‌

3,330‌

$

10,505‌

Leisure

Products

&

Services

-

0

.09

%

Carnival

Corp

(c)

165,705‌

1,793‌

Norwegian

Cruise

Line

Holdings

Ltd

(c)

69,727‌

1,061‌

Royal

Caribbean

Cruises

Ltd

(c)

36,312‌

2,358‌

$

5,212‌

Lodging

-

0

.37

%

Hilton

Worldwide

Holdings

Inc

44,753‌

6,493‌

Las

Vegas

Sands

Corp

(c)

54,371‌

3,208‌

Marriott

International

Inc/MD

44,522‌

7,755‌

MGM

Resorts

International

52,742‌

2,184‌

Wynn

Resorts

Ltd

(c)

17,061‌

1,768‌

$

21,408‌

Machinery

-

Construction

&

Mining

-

0

.38

%

Caterpillar

Inc

86,113‌

21,725‌

Machinery

-

Diversified

-

0

.85

%

Deere

&

Co

45,448‌

19,217‌

Dover

Corp

23,225‌

3,526‌

IDEX

Corp

12,479‌

2,991‌

Ingersoll

Rand

Inc

67,001‌

3,752‌

Nordson

Corp

8,899‌

2,165‌

Otis

Worldwide

Corp

68,933‌

5,668‌

Rockwell

Automation

Inc

19,004‌

5,360‌

Westinghouse

Air

Brake

Technologies

Corp

30,093‌

3,124‌

Xylem

Inc/NY

29,821‌

3,102‌

$

48,905‌

Media

-

1

.43

%

Charter

Communications

Inc

(c)

17,775‌

6,831‌

Comcast

Corp

-

Class

A

713,828‌

28,089‌

DISH

Network

Corp

(c)

41,590‌

598‌

FactSet

Research

Systems

Inc

6,304‌

2,666‌

Fox

Corp

-

A

Shares

50,051‌

1,699‌

Fox

Corp

-

B

Shares

23,056‌

731‌

News

Corp

-

A

Shares

63,269‌

1,282‌

Schedule

of

Investments

LargeCap

S&P

500

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

123

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Media

(continued)

News

Corp

-

B

Shares

19,510‌

$

399‌

Paramount

Global

-

Class

B

83,566‌

1,935‌

Walt

Disney

Co/The

(c)

301,658‌

32,727‌

Warner

Bros

Discovery

Inc

(c)

365,659‌

5,419‌

$

82,376‌

Mining

-

0

.30

%

Freeport-McMoRan

Inc

236,508‌

10,553‌

Newmont

Corp

131,339‌

6,952‌

$

17,505‌

Miscellaneous

Manufacturers

-

1

.17

%

3M

Co

91,461‌

10,525‌

A

O

Smith

Corp

20,994‌

1,421‌

Eaton

Corp

PLC

65,807‌

10,675‌

General

Electric

Co

180,802‌

14,551‌

Illinois

Tool

Works

Inc

46,256‌

10,918‌

Parker-Hannifin

Corp

21,246‌

6,926‌

Teledyne

Technologies

Inc

(c)

7,755‌

3,290‌

Textron

Inc

34,546‌

2,517‌

Trane

Technologies

PLC

38,109‌

6,826‌

$

67,649‌

Office

&

Business

Equipment

-

0

.05

%

Zebra

Technologies

Corp

(c)

8,543‌

2,701‌

Oil

&

Gas

-

4

.17

%

APA

Corp

53,201‌

2,358‌

Chevron

Corp

294,362‌

51,225‌

ConocoPhillips

206,187‌

25,128‌

Coterra

Energy

Inc

130,468‌

3,266‌

Devon

Energy

Corp

108,166‌

6,840‌

Diamondback

Energy

Inc

29,124‌

4,256‌

EOG

Resources

Inc

97,194‌

12,854‌

EQT

Corp

60,736‌

1,984‌

Exxon

Mobil

Corp

681,451‌

79,055‌

Hess

Corp

45,915‌

6,895‌

Marathon

Oil

Corp

105,085‌

2,887‌

Marathon

Petroleum

Corp

77,550‌

9,967‌

Occidental

Petroleum

Corp

120,319‌

7,795‌

Phillips

66

78,207‌

7,842‌

Pioneer

Natural

Resources

Co

39,316‌

9,056‌

Valero

Energy

Corp

63,794‌

8,933‌

$

240,341‌

Oil

&

Gas

Services

-

0

.43

%

Baker

Hughes

Co

165,712‌

5,260‌

Halliburton

Co

150,253‌

6,193‌

Schlumberger

Ltd

234,634‌

13,370‌

$

24,823‌

Packaging

&

Containers

-

0

.19

%

Amcor

PLC

246,388‌

2,971‌

Ball

Corp

51,943‌

3,025‌

Packaging

Corp

of

America

15,312‌

2,185‌

Sealed

Air

Corp

23,936‌

1,311‌

Westrock

Co

42,077‌

1,651‌

$

11,143‌

Pharmaceuticals

-

6

.24

%

AbbVie

Inc

292,628‌

43,236‌

AmerisourceBergen

Corp

26,797‌

4,528‌

Becton

Dickinson

and

Co

47,190‌

11,902‌

Bristol-Myers

Squibb

Co

351,815‌

25,559‌

Cardinal

Health

Inc

43,376‌

3,351‌

Cigna

Corp

50,589‌

16,020‌

CVS

Health

Corp

217,420‌

19,181‌

Dexcom

Inc

(c)

63,915‌

6,845‌

Eli

Lilly

&

Co

130,496‌

44,910‌

Henry

Schein

Inc

(c)

22,430‌

1,932‌

Johnson

&

Johnson

432,617‌

70,698‌

McKesson

Corp

23,464‌

8,885‌

Merck

&

Co

Inc

419,529‌

45,062‌

Organon

&

Co

42,088‌

1,268‌

Pfizer

Inc

928,828‌

41,017‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Pharmaceuticals

(continued)

Viatris

Inc

200,660‌

$

2,440‌

Zoetis

Inc

77,121‌

12,763‌

$

359,597‌

Pipelines

-

0

.35

%

Kinder

Morgan

Inc

327,299‌

5,990‌

ONEOK

Inc

73,956‌

5,064‌

Targa

Resources

Corp

37,457‌

2,810‌

Williams

Cos

Inc/The

201,540‌

6,498‌

$

20,362‌

Real

Estate

-

0

.08

%

CBRE

Group

Inc

(c)

52,281‌

4,471‌

REITs

-

2

.66

%

Alexandria

Real

Estate

Equities

Inc

24,707‌

3,971‌

American

Tower

Corp

77,042‌

17,210‌

AvalonBay

Communities

Inc

23,148‌

4,107‌

Boston

Properties

Inc

23,603‌

1,759‌

Camden

Property

Trust

17,626‌

2,172‌

Crown

Castle

Inc

71,655‌

10,613‌

Digital

Realty

Trust

Inc

47,575‌

5,453‌

Equinix

Inc

15,312‌

11,302‌

Equity

Residential

56,280‌

3,582‌

Essex

Property

Trust

Inc

10,716‌

2,423‌

Extra

Space

Storage

Inc

22,159‌

3,497‌

Federal

Realty

Investment

Trust

12,093‌

1,349‌

Healthpeak

Properties

Inc

88,945‌

2,444‌

Host

Hotels

&

Resorts

Inc

118,314‌

2,230‌

Invitation

Homes

Inc

96,110‌

3,124‌

Iron

Mountain

Inc

48,103‌

2,626‌

Kimco

Realty

Corp

102,335‌

2,298‌

Mid-America

Apartment

Communities

Inc

19,107‌

3,186‌

Prologis

Inc

152,740‌

19,746‌

Public

Storage

26,156‌

7,960‌

Realty

Income

Corp

103,773‌

7,039‌

Regency

Centers

Corp

25,483‌

1,698‌

SBA

Communications

Corp

17,864‌

5,315‌

Simon

Property

Group

Inc

54,099‌

6,950‌

UDR

Inc

50,634‌

2,157‌

Ventas

Inc

66,140‌

3,427‌

VICI

Properties

Inc

159,362‌

5,447‌

Welltower

Inc

78,186‌

5,867‌

Weyerhaeuser

Co

121,773‌

4,193‌

$

153,145‌

Retail

-

5

.37

%

Advance

Auto

Parts

Inc

9,948‌

1,515‌

AutoZone

Inc

(c)

3,141‌

7,660‌

Bath

&

Body

Works

Inc

37,787‌

1,739‌

Best

Buy

Co

Inc

33,153‌

2,941‌

CarMax

Inc

(c)

26,148‌

1,842‌

Chipotle

Mexican

Grill

Inc

(c)

4,587‌

7,552‌

Costco

Wholesale

Corp

73,236‌

37,434‌

Darden

Restaurants

Inc

20,250‌

2,996‌

Dollar

General

Corp

37,326‌

8,719‌

Dollar

Tree

Inc

(c)

34,830‌

5,231‌

Domino's

Pizza

Inc

5,858‌

2,068‌

Genuine

Parts

Co

23,324‌

3,914‌

Home

Depot

Inc/The

169,394‌

54,913‌

Lowe's

Cos

Inc

102,707‌

21,389‌

McDonald's

Corp

121,195‌

32,408‌

O'Reilly

Automotive

Inc

(c)

10,355‌

8,205‌

Ross

Stores

Inc

57,429‌

6,788‌

Starbucks

Corp

189,941‌

20,730‌

Target

Corp

76,160‌

13,110‌

TJX

Cos

Inc/The

192,120‌

15,727‌

Tractor

Supply

Co

18,279‌

4,167‌

Ulta

Beauty

Inc

(c)

8,476‌

4,356‌

Walgreens

Boots

Alliance

Inc

118,772‌

4,378‌

Walmart

Inc

233,544‌

33,600‌

Yum!

Brands

Inc

46,612‌

6,083‌

$

309,465‌

Schedule

of

Investments

LargeCap

S&P

500

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

124

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Semiconductors

-

5

.26

%

Advanced

Micro

Devices

Inc

(c)

266,794‌

$

20,050‌

Analog

Devices

Inc

85,109‌

14,594‌

Applied

Materials

Inc

142,355‌

15,871‌

Broadcom

Inc

67,015‌

39,204‌

Intel

Corp

682,890‌

19,299‌

KLA

Corp

23,449‌

9,203‌

Lam

Research

Corp

22,568‌

11,286‌

Microchip

Technology

Inc

91,011‌

7,064‌

Micron

Technology

Inc

179,894‌

10,848‌

Monolithic

Power

Systems

Inc

7,379‌

3,148‌

NVIDIA

Corp

412,019‌

80,496‌

NXP

Semiconductors

NV

42,880‌

7,903‌

ON

Semiconductor

Corp

(c)

71,551‌

5,255‌

Qorvo

Inc

(c)

16,778‌

1,823‌

QUALCOMM

Inc

185,490‌

24,709‌

Skyworks

Solutions

Inc

26,548‌

2,912‌

Teradyne

Inc

25,774‌

2,621‌

Texas

Instruments

Inc

150,176‌

26,613‌

$

302,899‌

Shipbuilding

-

0

.03

%

Huntington

Ingalls

Industries

Inc

6,603‌

1,456‌

Software

-

9

.05

%

Activision

Blizzard

Inc

117,844‌

9,023‌

Adobe

Inc

(c)

76,927‌

28,489‌

Akamai

Technologies

Inc

(c)

26,020‌

2,315‌

ANSYS

Inc

(c)

14,413‌

3,839‌

Autodesk

Inc

(c)

35,719‌

7,685‌

Broadridge

Financial

Solutions

Inc

19,467‌

2,927‌

Cadence

Design

Systems

Inc

(c)

45,390‌

8,299‌

Ceridian

HCM

Holding

Inc

(c)

25,414‌

1,837‌

Electronic

Arts

Inc

43,399‌

5,585‌

Fidelity

National

Information

Services

Inc

98,187‌

7,368‌

Fiserv

Inc

(c)

105,078‌

11,210‌

Intuit

Inc

46,640‌

19,713‌

Jack

Henry

&

Associates

Inc

12,070‌

2,174‌

Microsoft

Corp

1,233,483‌

305,669‌

MSCI

Inc

13,231‌

7,033‌

Oracle

Corp

254,294‌

22,495‌

Paychex

Inc

53,074‌

6,149‌

Paycom

Software

Inc

(c)

8,043‌

2,605‌

PTC

Inc

(c)

17,492‌

2,359‌

Roper

Technologies

Inc

17,547‌

7,488‌

Salesforce

Inc

(c)

165,469‌

27,794‌

ServiceNow

Inc

(c)

33,423‌

15,212‌

Synopsys

Inc

(c)

25,301‌

8,950‌

Take-Two

Interactive

Software

Inc

(c)

26,102‌

2,956‌

Tyler

Technologies

Inc

(c)

6,890‌

2,224‌

$

521,398‌

Telecommunications

-

2

.08

%

Arista

Networks

Inc

(c)

40,955‌

5,161‌

AT&T

Inc

1,179,297‌

24,022‌

Cisco

Systems

Inc

679,412‌

33,067‌

Corning

Inc

125,959‌

4,359‌

Juniper

Networks

Inc

53,703‌

1,735‌

Lumen

Technologies

Inc

157,495‌

827‌

Motorola

Solutions

Inc

27,666‌

7,110‌

T-Mobile

US

Inc

(c)

98,819‌

14,755‌

Verizon

Communications

Inc

694,939‌

28,889‌

$

119,925‌

Toys,

Games

&

Hobbies

-

0

.02

%

Hasbro

Inc

21,482‌

1,271‌

Transportation

-

1

.45

%

CH

Robinson

Worldwide

Inc

19,478‌

1,951‌

CSX

Corp

347,885‌

10,757‌

Expeditors

International

of

Washington

Inc

26,333‌

2,848‌

FedEx

Corp

39,612‌

7,679‌

JB

Hunt

Transport

Services

Inc

13,705‌

2,591‌

Norfolk

Southern

Corp

38,309‌

9,417‌

Old

Dominion

Freight

Line

Inc

14,992‌

4,996‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Transportation

(continued)

Union

Pacific

Corp

101,731‌

$

20,772‌

United

Parcel

Service

Inc

120,762‌

22,369‌

$

83,380‌

Water

-

0

.08

%

American

Water

Works

Co

Inc

30,086‌

4,708‌

TOTAL

COMMON

STOCKS

$

5,644,752‌

Total

Investments

$

5,750,199‌

Other

Assets

and

Liabilities

-  0.16%

9,346‌

TOTAL

NET

ASSETS

-

100.00%

$

5,759,545‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Current

yield

shown

is

as

of

period

end.

(c)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Sector

Percent

Technology

21

.98‌

%

Consumer,

Non-cyclical

21

.43‌

%

Financial

15

.50‌

%

Communications

11

.55‌

%

Consumer,

Cyclical

9

.28‌

%

Industrial

8

.01‌

%

Energy

5

.14‌

%

Utilities

2

.88‌

%

Basic

Materials

2

.24‌

%

Money

Market

Funds

1

.50‌

%

Investment

Companies

0

.33‌

%

Other

Assets

and

Liabilities

0

.16‌

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

LargeCap

S&P

500

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

125

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

197,139‌

$

111,005‌

$

86,134‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

51,660‌

172,920‌

224,580‌

—‌

$

51,660‌

$

370,059‌

$

335,585‌

$

86,134‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

502‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

376‌

—‌

—‌

—‌

$

878‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

500

Emini;

March

2023

Long

450‌

$

92,025‌

$

2,622‌

Total

$

2,622‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

LargeCap

Value

Fund

III

January

31,

2023

(unaudited)

See

accompanying

notes.

126

INVESTMENT

COMPANIES

-

2

.81

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.42

%

iShares

Russell

1000

Value

ETF

72,861‌

$

11,618‌

Money

Market

Funds

-

2

.39

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

904,387‌

904‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(c)

64,115,070‌

64,115‌

$

65,019‌

TOTAL

INVESTMENT

COMPANIES

$

76,637‌

COMMON

STOCKS

-

97

.24

%

Shares

Held

Value

(000's)

Advertising

-

0

.03

%

Interpublic

Group

of

Cos

Inc/The

8,510‌

$

310‌

Omnicom

Group

Inc

4,454‌

383‌

$

693‌

Aerospace

&

Defense

-

0

.35

%

Boeing

Co/The

(d)

8,250‌

1,757‌

Curtiss-Wright

Corp

822‌

136‌

General

Dynamics

Corp

5,307‌

1,237‌

HEICO

Corp

68‌

12‌

HEICO

Corp

-

Class

A

119‌

16‌

Hexcel

Corp

1,769‌

125‌

Howmet

Aerospace

Inc

7,319‌

298‌

L3Harris

Technologies

Inc

4,168‌

895‌

Mercury

Systems

Inc

(d)

1,075‌

54‌

Northrop

Grumman

Corp

2,826‌

1,266‌

Raytheon

Technologies

Corp

32,118‌

3,207‌

Spirit

AeroSystems

Holdings

Inc

157‌

6‌

TransDigm

Group

Inc

690‌

495‌

$

9,504‌

Agriculture

-

1

.26

%

Altria

Group

Inc

39,263‌

1,768‌

Archer-Daniels-Midland

Co

11,943‌

990‌

Bunge

Ltd

3,032‌

300‌

Darling

Ingredients

Inc

(d)

3,223‌

214‌

Philip

Morris

International

Inc

297,754‌

31,038‌

$

34,310‌

Airlines

-

0

.05

%

Alaska

Air

Group

Inc

(d)

2,720‌

140‌

American

Airlines

Group

Inc

(d)

13,980‌

225‌

Copa

Holdings

SA

(d)

636‌

58‌

JetBlue

Airways

Corp

(d)

6,981‌

56‌

Southwest

Airlines

Co

12,824‌

459‌

United

Airlines

Holdings

Inc

(d)

7,061‌

346‌

$

1,284‌

Apparel

-

0

.05

%

Capri

Holdings

Ltd

(d)

2,743‌

182‌

Carter's

Inc

850‌

71‌

Columbia

Sportswear

Co

839‌

81‌

Deckers

Outdoor

Corp

(d)

68‌

29‌

Hanesbrands

Inc

7,517‌

63‌

PVH

Corp

1,418‌

128‌

Ralph

Lauren

Corp

887‌

110‌

Skechers

USA

Inc

(d)

2,464‌

119‌

Tapestry

Inc

4,573‌

208‌

Under

Armour

Inc

-

Class

A

(d)

4,302‌

53‌

Under

Armour

Inc

-

Class

C

(d)

4,324‌

47‌

VF

Corp

7,566‌

234‌

$

1,325‌

Automobile

Manufacturers

-

0

.15

%

Cummins

Inc

3,077‌

768‌

Ford

Motor

Co

86,456‌

1,168‌

General

Motors

Co

30,962‌

1,217‌

Lucid

Group

Inc

(d),(e)

834‌

10‌

PACCAR

Inc

7,448‌

814‌

Rivian

Automotive

Inc

(d)

11,318‌

220‌

$

4,197‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Automobile

Parts

&

Equipment

-

0

.82

%

Allison

Transmission

Holdings

Inc

457‌

$

21‌

Aptiv

PLC

(d)

192,726‌

21,796‌

BorgWarner

Inc

5,168‌

244‌

Gentex

Corp

5,086‌

150‌

Lear

Corp

1,271‌

185‌

QuantumScape

Corp

(d),(e)

5,270‌

45‌

$

22,441‌

Banks

-

9

.06

%

Bank

of

America

Corp

1,132,514‌

40,182‌

Bank

of

Hawaii

Corp

844‌

65‌

Bank

of

New

York

Mellon

Corp/The

16,041‌

811‌

Bank

OZK

2,443‌

112‌

BOK

Financial

Corp

651‌

65‌

Citigroup

Inc

42,176‌

2,202‌

Citizens

Financial

Group

Inc

10,571‌

458‌

Comerica

Inc

2,825‌

207‌

Commerce

Bancshares

Inc/MO

2,473‌

165‌

Cullen/Frost

Bankers

Inc

1,266‌

165‌

East

West

Bancorp

Inc

3,084‌

242‌

Fifth

Third

Bancorp

14,754‌

535‌

First

Citizens

BancShares

Inc/NC

184‌

143‌

First

Hawaiian

Inc

2,782‌

76‌

First

Horizon

Corp

11,455‌

283‌

First

Republic

Bank/CA

3,964‌

558‌

FNB

Corp/PA

7,346‌

105‌

Goldman

Sachs

Group

Inc/The

69,814‌

25,539‌

Huntington

Bancshares

Inc/OH

31,077‌

471‌

JPMorgan

Chase

&

Co

343,401‌

48,063‌

KeyCorp

20,119‌

386‌

M&T

Bank

Corp

167,915‌

26,195‌

Morgan

Stanley

26,938‌

2,622‌

Northern

Trust

Corp

200,207‌

19,414‌

PacWest

Bancorp

2,504‌

69‌

Pinnacle

Financial

Partners

Inc

1,639‌

129‌

PNC

Financial

Services

Group

Inc/The

8,798‌

1,456‌

Popular

Inc

1,609‌

110‌

Prosperity

Bancshares

Inc

1,897‌

144‌

Regions

Financial

Corp

20,271‌

477‌

Signature

Bank/New

York

NY

1,271‌

164‌

State

Street

Corp

7,944‌

726‌

SVB

Financial

Group

(d)

461‌

139‌

Synovus

Financial

Corp

3,069‌

129‌

Truist

Financial

Corp

29,046‌

1,435‌

Umpqua

Holdings

Corp

4,719‌

86‌

US

Bancorp

322,152‌

16,043‌

Webster

Financial

Corp

3,860‌

203‌

Wells

Fargo

&

Co

807,976‌

37,869‌

Western

Alliance

Bancorp

240,106‌

18,097‌

Wintrust

Financial

Corp

1,308‌

120‌

Zions

Bancorp

NA

3,157‌

168‌

$

246,628‌

Beverages

-

1

.35

%

Boston

Beer

Co

Inc/The

(d)

11‌

4‌

Brown-Forman

Corp

-

A

Shares

404‌

27‌

Brown-Forman

Corp

-

B

Shares

1,635‌

109‌

Coca-Cola

Co/The

21,329‌

1,308‌

Coca-Cola

Europacific

Partners

PLC

207,323‌

11,656‌

Constellation

Brands

Inc

3,309‌

766‌

Keurig

Dr

Pepper

Inc

18,730‌

661‌

Molson

Coors

Beverage

Co

3,789‌

199‌

Monster

Beverage

Corp

(d)

599‌

62‌

PepsiCo

Inc

127,707‌

21,841‌

$

36,633‌

Biotechnology

-

1

.34

%

Amgen

Inc

1,851‌

467‌

Biogen

Inc

(d)

3,131‌

911‌

BioMarin

Pharmaceutical

Inc

(d)

3,994‌

461‌

Bio-Rad

Laboratories

Inc

(d)

464‌

217‌

Certara

Inc

(d)

1,073‌

21‌

Schedule

of

Investments

LargeCap

Value

Fund

III

January

31,

2023

(unaudited)

See

accompanying

notes.

127

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Biotechnology

(continued)

Corteva

Inc

15,694‌

$

1,011‌

Exelixis

Inc

(d)

1,115‌

20‌

Gilead

Sciences

Inc

347,483‌

29,167‌

Horizon

Therapeutics

Plc

(d)

339‌

37‌

Illumina

Inc

(d)

3,432‌

735‌

Incyte

Corp

(d)

540‌

46‌

Ionis

Pharmaceuticals

Inc

(d)

295‌

12‌

Mirati

Therapeutics

Inc

(d)

928‌

50‌

Moderna

Inc

(d)

6,817‌

1,200‌

Regeneron

Pharmaceuticals

Inc

(d)

1,935‌

1,468‌

Royalty

Pharma

PLC

8,119‌

318‌

Ultragenyx

Pharmaceutical

Inc

(d)

387‌

17‌

United

Therapeutics

Corp

(d)

964‌

254‌

Vertex

Pharmaceuticals

Inc

(d)

310‌

100‌

$

36,512‌

Building

Materials

-

0

.15

%

Armstrong

World

Industries

Inc

423‌

33‌

AZEK

Co

Inc/The

(d)

2,448‌

59‌

Builders

FirstSource

Inc

(d)

3,176‌

253‌

Carrier

Global

Corp

18,248‌

831‌

Eagle

Materials

Inc

150‌

22‌

Fortune

Brands

Innovations

Inc

1,849‌

119‌

Hayward

Holdings

Inc

(d)

1,574‌

21‌

Johnson

Controls

International

plc

15,071‌

1,048‌

Lennox

International

Inc

697‌

182‌

Louisiana-Pacific

Corp

1,449‌

99‌

Martin

Marietta

Materials

Inc

1,228‌

442‌

Masco

Corp

4,657‌

248‌

Masterbrand

Inc

(d)

1,945‌

18‌

MDU

Resources

Group

Inc

4,319‌

133‌

Mohawk

Industries

Inc

(d)

1,136‌

136‌

Owens

Corning

2,038‌

197‌

Vulcan

Materials

Co

1,466‌

269‌

$

4,110‌

Chemicals

-

4

.10

%

Air

Products

and

Chemicals

Inc

139,034‌

44,561‌

Albemarle

Corp

1,228‌

346‌

Ashland

Inc

1,087‌

119‌

Axalta

Coating

Systems

Ltd

(d)

803,408‌

24,183‌

Celanese

Corp

2,342‌

288‌

Chemours

Co/The

1,322‌

48‌

Dow

Inc

15,379‌

913‌

DuPont

de

Nemours

Inc

291,363‌

21,547‌

Eastman

Chemical

Co

2,612‌

230‌

Ecolab

Inc

646‌

100‌

Element

Solutions

Inc

4,879‌

100‌

FMC

Corp

1,792‌

239‌

Huntsman

Corp

3,984‌

126‌

International

Flavors

&

Fragrances

Inc

126,263‌

14,199‌

Linde

PLC

8,531‌

2,823‌

LyondellBasell

Industries

NV

5,563‌

538‌

Mosaic

Co/The

6,589‌

326‌

NewMarket

Corp

134‌

46‌

Olin

Corp

2,758‌

178‌

PPG

Industries

Inc

2,391‌

312‌

RPM

International

Inc

2,620‌

236‌

Westlake

Corp

711‌

87‌

$

111,545‌

Commercial

Services

-

1

.45

%

ADT

Inc

4,491‌

39‌

Affirm

Holdings

Inc

(d),(e)

4,779‌

77‌

Aramark

680,755‌

30,314‌

Automatic

Data

Processing

Inc

741‌

167‌

Avis

Budget

Group

Inc

(d)

560‌

112‌

Block

Inc

(d)

11,705‌

957‌

Bright

Horizons

Family

Solutions

Inc

(d)

914‌

70‌

Cintas

Corp

129‌

57‌

Clarivate

PLC

(d)

10,488‌

117‌

CoStar

Group

Inc

(d)

7,545‌

588‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Commercial

Services

(continued)

Driven

Brands

Holdings

Inc

(d)

1,207‌

$

35‌

Dun

&

Bradstreet

Holdings

Inc

5,437‌

80‌

Equifax

Inc

1,315‌

292‌

Euronet

Worldwide

Inc

(d)

256‌

29‌

FTI

Consulting

Inc

(d)

421‌

67‌

Global

Payments

Inc

5,860‌

661‌

Grand

Canyon

Education

Inc

(d)

686‌

80‌

GXO

Logistics

Inc

(d)

2,034‌

106‌

H&R

Block

Inc

617‌

24‌

Hertz

Global

Holdings

Inc

(d)

4,136‌

75‌

ManpowerGroup

Inc

1,143‌

100‌

Mister

Car

Wash

Inc

(d)

309‌

3‌

Moody's

Corp

189‌

61‌

Morningstar

Inc

64‌

16‌

PayPal

Holdings

Inc

(d)

17,234‌

1,404‌

Quanta

Services

Inc

1,397‌

213‌

Robert

Half

International

Inc

303‌

25‌

Rollins

Inc

427‌

16‌

S&P

Global

Inc

7,116‌

2,668‌

Service

Corp

International/US

3,267‌

242‌

TransUnion

1,109‌

80‌

U-Haul

Holding

Co

(e)

199‌

13‌

U-Haul

Holding

Co

1,707‌

105‌

United

Rentals

Inc

837‌

369‌

WEX

Inc

(d)

267‌

49‌

WillScot

Mobile

Mini

Holdings

Corp

(d)

2,079‌

101‌

$

39,412‌

Computers

-

1

.67

%

Amdocs

Ltd

2,651‌

244‌

CACI

International

Inc

(d)

74,548‌

22,968‌

Cognizant

Technology

Solutions

Corp

285,615‌

19,064‌

Dell

Technologies

Inc

4,782‌

194‌

DXC

Technology

Co

(d)

5,021‌

144‌

Genpact

Ltd

1,843‌

87‌

Hewlett

Packard

Enterprise

Co

28,125‌

454‌

HP

Inc

11,900‌

347‌

International

Business

Machines

Corp

6,529‌

880‌

KBR

Inc

1,053‌

54‌

Kyndryl

Holdings

Inc

(d)

4,479‌

60‌

Leidos

Holdings

Inc

2,973‌

294‌

Lumentum

Holdings

Inc

(d)

1,530‌

92‌

NCR

Corp

(d)

2,604‌

71‌

Science

Applications

International

Corp

1,217‌

126‌

Western

Digital

Corp

(d)

6,977‌

307‌

$

45,386‌

Consumer

Products

-

0

.88

%

Avery

Dennison

Corp

677‌

128‌

Church

&

Dwight

Co

Inc

287,996‌

23,288‌

Clorox

Co/The

454‌

66‌

Kimberly-Clark

Corp

2,966‌

386‌

Reynolds

Consumer

Products

Inc

1,221‌

36‌

Spectrum

Brands

Holdings

Inc

845‌

57‌

$

23,961‌

Cosmetics

&

Personal

Care

-

0

.60

%

Colgate-Palmolive

Co

6,908‌

515‌

Coty

Inc

(d)

7,611‌

76‌

Estee

Lauder

Cos

Inc/The

41,982‌

11,632‌

Procter

&

Gamble

Co/The

29,607‌

4,216‌

$

16,439‌

Distribution

&

Wholesale

-

0

.03

%

Core

&

Main

Inc

(d)

897‌

20‌

IAA

Inc

(d)

517‌

22‌

LKQ

Corp

5,459‌

322‌

SiteOne

Landscape

Supply

Inc

(d)

375‌

57‌

Univar

Solutions

Inc

(d)

3,579‌

123‌

Watsco

Inc

336‌

96‌

WESCO

International

Inc

(d)

450‌

67‌

$

707‌

Schedule

of

Investments

LargeCap

Value

Fund

III

January

31,

2023

(unaudited)

See

accompanying

notes.

128

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Diversified

Financial

Services

-

2

.09

%

Affiliated

Managers

Group

Inc

829‌

$

143‌

Air

Lease

Corp

2,266‌

102‌

Ally

Financial

Inc

6,522‌

212‌

American

Express

Co

119,035‌

20,823‌

Ameriprise

Financial

Inc

842‌

295‌

Apollo

Global

Management

Inc

2,512‌

178‌

BlackRock

Inc

3,281‌

2,491‌

Capital

One

Financial

Corp

8,296‌

987‌

Cboe

Global

Markets

Inc

2,290‌

281‌

Charles

Schwab

Corp/The

14,779‌

1,144‌

CME

Group

Inc

7,835‌

1,384‌

Coinbase

Global

Inc

(d),(e)

3,443‌

201‌

Credit

Acceptance

Corp

(d),(e)

136‌

63‌

Discover

Financial

Services

5,947‌

694‌

Evercore

Inc

-

Class

A

835‌

108‌

Franklin

Resources

Inc

6,090‌

190‌

Interactive

Brokers

Group

Inc

-

A

Shares

2,007‌

160‌

Intercontinental

Exchange

Inc

12,056‌

1,297‌

Invesco

Ltd

8,081‌

150‌

Janus

Henderson

Group

PLC

2,979‌

77‌

Jefferies

Financial

Group

Inc

4,435‌

174‌

Lazard

Ltd

1,809‌

73‌

Nasdaq

Inc

7,443‌

448‌

OneMain

Holdings

Inc

2,466‌

106‌

Raymond

James

Financial

Inc

3,876‌

437‌

Rocket

Cos

Inc

(e)

1,246‌

12‌

SEI

Investments

Co

2,255‌

141‌

SLM

Corp

5,494‌

97‌

SoFi

Technologies

Inc

(d),(e)

17,113‌

119‌

Stifel

Financial

Corp

2,292‌

154‌

Synchrony

Financial

9,806‌

360‌

T

Rowe

Price

Group

Inc

4,843‌

564‌

Tradeweb

Markets

Inc

856‌

64‌

Upstart

Holdings

Inc

(d),(e)

1,348‌

25‌

UWM

Holdings

Corp

(e)

643‌

3‌

Virtu

Financial

Inc

2,098‌

41‌

Visa

Inc

99,690‌

22,950‌

Western

Union

Co/The

5,528‌

78‌

$

56,826‌

Electric

-

4

.11

%

AES

Corp/The

11,845‌

325‌

Alliant

Energy

Corp

5,426‌

293‌

Ameren

Corp

5,572‌

484‌

American

Electric

Power

Co

Inc

11,231‌

1,055‌

Avangrid

Inc

1,531‌

65‌

Brookfield

Renewable

Corp

2,760‌

87‌

CenterPoint

Energy

Inc

13,642‌

411‌

CMS

Energy

Corp

6,267‌

396‌

Consolidated

Edison

Inc

7,748‌

738‌

Constellation

Energy

Corp

7,123‌

608‌

Dominion

Energy

Inc

18,125‌

1,153‌

DTE

Energy

Co

188,193‌

21,900‌

Duke

Energy

Corp

16,823‌

1,723‌

Edison

International

8,141‌

561‌

Entergy

Corp

4,393‌

476‌

Evergy

Inc

4,821‌

302‌

Eversource

Energy

7,529‌

620‌

Exelon

Corp

21,633‌

913‌

FirstEnergy

Corp

11,758‌

481‌

Hawaiian

Electric

Industries

Inc

2,274‌

96‌

IDACORP

Inc

1,068‌

113‌

NextEra

Energy

Inc

315,381‌

23,536‌

NRG

Energy

Inc

5,106‌

175‌

OGE

Energy

Corp

4,257‌

167‌

PG&E

Corp

(d)

36,056‌

573‌

Pinnacle

West

Capital

Corp

270,967‌

20,201‌

PPL

Corp

16,102‌

477‌

Public

Service

Enterprise

Group

Inc

10,878‌

674‌

Sempra

Energy

6,872‌

1,102‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Electric

(continued)

Southern

Co/The

23,758‌

$

1,608‌

Vistra

Corp

3,633‌

84‌

WEC

Energy

Group

Inc

315,380‌

29,643‌

Xcel

Energy

Inc

11,907‌

819‌

$

111,859‌

Electrical

Components

&

Equipment

-

0

.07

%

Acuity

Brands

Inc

702‌

132‌

AMETEK

Inc

5,031‌

729‌

Emerson

Electric

Co

8,785‌

793‌

Littelfuse

Inc

529‌

136‌

$

1,790‌

Electronics

-

1

.85

%

Agilent

Technologies

Inc

665‌

101‌

Allegion

plc

392‌

46‌

Amphenol

Corp

3,119‌

249‌

Arrow

Electronics

Inc

(d)

1,273‌

149‌

Avnet

Inc

1,987‌

91‌

Coherent

Corp

(d)

2,274‌

99‌

Fortive

Corp

342,250‌

23,283‌

Garmin

Ltd

3,336‌

330‌

Honeywell

International

Inc

117,754‌

24,549‌

Hubbell

Inc

1,161‌

266‌

Jabil

Inc

547‌

43‌

Keysight

Technologies

Inc

(d)

288‌

52‌

National

Instruments

Corp

2,460‌

133‌

nVent

Electric

PLC

3,505‌

139‌

Sensata

Technologies

Holding

PLC

3,282‌

167‌

TD

SYNNEX

Corp

939‌

96‌

Trimble

Inc

(d)

5,405‌

314‌

Vontier

Corp

1,310‌

30‌

Woodward

Inc

1,302‌

133‌

$

50,270‌

Energy

-

Alternate

Sources

-

0

.02

%

First

Solar

Inc

(d)

2,297‌

408‌

Plug

Power

Inc

(d)

5,653‌

96‌

Sunrun

Inc

(d)

4,481‌

118‌

$

622‌

Engineering

&

Construction

-

0

.90

%

AECOM

275,412‌

24,035‌

Jacobs

Solutions

Inc

2,765‌

342‌

MasTec

Inc

(d)

1,315‌

129‌

TopBuild

Corp

(d)

125‌

25‌

$

24,531‌

Entertainment

-

0

.02

%

AMC

Entertainment

Holdings

Inc

(e)

11,114‌

59‌

Caesars

Entertainment

Inc

(d)

1,393‌

73‌

Live

Nation

Entertainment

Inc

(d)

1,666‌

134‌

Madison

Square

Garden

Sports

Corp

202‌

37‌

Marriott

Vacations

Worldwide

Corp

818‌

131‌

Penn

Entertainment

Inc

(d)

3,469‌

123‌

Six

Flags

Entertainment

Corp

(d)

821‌

22‌

Vail

Resorts

Inc

54‌

14‌

$

593‌

Environmental

Control

-

0

.04

%

Clean

Harbors

Inc

(d)

1,089‌

142‌

Pentair

PLC

3,513‌

195‌

Republic

Services

Inc

4,179‌

522‌

Stericycle

Inc

(d)

1,938‌

104‌

Tetra

Tech

Inc

676‌

105‌

Waste

Management

Inc

564‌

87‌

$

1,155‌

Food

-

1

.11

%

Albertsons

Cos

Inc

3,671‌

78‌

Campbell

Soup

Co

4,194‌

218‌

Conagra

Brands

Inc

10,191‌

379‌

Flowers

Foods

Inc

3,964‌

110‌

General

Mills

Inc

12,977‌

1,017‌

Grocery

Outlet

Holding

Corp

(d)

1,839‌

56‌

Schedule

of

Investments

LargeCap

Value

Fund

III

January

31,

2023

(unaudited)

See

accompanying

notes.

129

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Food

(continued)

Hershey

Co/The

436‌

$

98‌

Hormel

Foods

Corp

6,205‌

281‌

Ingredion

Inc

1,425‌

146‌

J

M

Smucker

Co/The

2,247‌

343‌

Kellogg

Co

2,468‌

169‌

Kraft

Heinz

Co/The

15,137‌

614‌

Kroger

Co/The

14,202‌

634‌

McCormick

&

Co

Inc/MD

308,796‌

23,197‌

Mondelez

International

Inc

29,792‌

1,950‌

Performance

Food

Group

Co

(d)

2,272‌

139‌

Pilgrim's

Pride

Corp

(d)

627‌

15‌

Post

Holdings

Inc

(d)

1,202‌

114‌

Seaboard

Corp

7‌

27‌

Tyson

Foods

Inc

6,166‌

405‌

US

Foods

Holding

Corp

(d)

4,402‌

168‌

$

30,158‌

Forest

Products

&

Paper

-

0

.01

%

International

Paper

Co

7,755‌

324‌

Gas

-

0

.03

%

Atmos

Energy

Corp

3,025‌

355‌

National

Fuel

Gas

Co

1,742‌

101‌

NiSource

Inc

8,713‌

242‌

UGI

Corp

4,489‌

179‌

$

877‌

Hand

&

Machine

Tools

-

0

.67

%

MSA

Safety

Inc

488‌

67‌

Regal

Rexnord

Corp

1,447‌

201‌

Snap-on

Inc

1,138‌

283‌

Stanley

Black

&

Decker

Inc

199,689‌

17,834‌

$

18,385‌

Healthcare

-

Products

-

2

.67

%

10X

Genomics

Inc

(d)

242‌

11‌

Abbott

Laboratories

32,522‌

3,595‌

Align

Technology

Inc

(d)

422‌

114‌

Avantor

Inc

(d)

932‌

22‌

Azenta

Inc

(d)

1,599‌

90‌

Baxter

International

Inc

9,202‌

421‌

Boston

Scientific

Corp

(d)

31,175‌

1,442‌

Cooper

Cos

Inc/The

1,050‌

366‌

Danaher

Corp

138,000‌

36,484‌

DENTSPLY

SIRONA

Inc

4,581‌

169‌

Envista

Holdings

Corp

(d)

3,626‌

141‌

Exact

Sciences

Corp

(d)

3,096‌

209‌

GE

HealthCare

Technologies

Inc

(d)

7,528‌

523‌

Globus

Medical

Inc

(d)

1,574‌

119‌

Hologic

Inc

(d)

5,325‌

433‌

ICU

Medical

Inc

(d)

353‌

68‌

Integra

LifeSciences

Holdings

Corp

(d)

1,515‌

87‌

Intuitive

Surgical

Inc

(d)

610‌

150‌

Masimo

Corp

(d)

252‌

43‌

Medtronic

PLC

251,994‌

21,089‌

Natera

Inc

(d)

150‌

7‌

PerkinElmer

Inc

2,730‌

376‌

QIAGEN

NV

(d)

4,909‌

241‌

QuidelOrtho

Corp

(d)

1,067‌

91‌

Repligen

Corp

(d)

341‌

63‌

STERIS

PLC

2,179‌

450‌

Stryker

Corp

3,570‌

906‌

Tandem

Diabetes

Care

Inc

(d)

123‌

5‌

Teleflex

Inc

1,013‌

247‌

Thermo

Fisher

Scientific

Inc

7,507‌

4,282‌

Zimmer

Biomet

Holdings

Inc

4,542‌

578‌

$

72,822‌

Healthcare

-

Services

-

4

.20

%

Acadia

Healthcare

Co

Inc

(d)

1,924‌

162‌

agilon

health

Inc

(d)

144‌

3‌

Amedisys

Inc

(d)

688‌

67‌

Catalent

Inc

(d)

2,660‌

142‌

Centene

Corp

(d)

12,380‌

944‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Services

(continued)

Charles

River

Laboratories

International

Inc

(d)

79‌

$

19‌

Chemed

Corp

205‌

104‌

Elevance

Health

Inc

74,875‌

37,436‌

Encompass

Health

Corp

2,117‌

132‌

Enhabit

Inc

(d)

1,112‌

17‌

Ginkgo

Bioworks

Holdings

Inc

(d)

13,969‌

27‌

HCA

Healthcare

Inc

49,176‌

12,544‌

Humana

Inc

808‌

413‌

Laboratory

Corp

of

America

Holdings

1,935‌

488‌

Molina

Healthcare

Inc

(d)

280‌

87‌

Oak

Street

Health

Inc

(d)

2,518‌

73‌

Quest

Diagnostics

Inc

2,480‌

368‌

Signify

Health

Inc

(d)

1,671‌

48‌

Syneos

Health

Inc

(d)

1,872‌

67‌

Teladoc

Health

Inc

(d)

3,187‌

94‌

Tenet

Healthcare

Corp

(d)

2,297‌

126‌

UnitedHealth

Group

Inc

121,818‌

60,811‌

Universal

Health

Services

Inc

1,357‌

201‌

$

114,373‌

Home

Builders

-

0

.05

%

DR

Horton

Inc

3,327‌

328‌

Lennar

Corp

-

A

Shares

5,506‌

564‌

Lennar

Corp

-

B

Shares

369‌

32‌

NVR

Inc

(d)

19‌

100‌

PulteGroup

Inc

3,015‌

172‌

Thor

Industries

Inc

1,143‌

109‌

Toll

Brothers

Inc

1,146‌

68‌

$

1,373‌

Home

Furnishings

-

0

.02

%

Dolby

Laboratories

Inc

1,350‌

107‌

Leggett

&

Platt

Inc

2,808‌

103‌

Tempur

Sealy

International

Inc

3,704‌

151‌

Whirlpool

Corp

1,172‌

182‌

$

543‌

Housewares

-

0

.01

%

Newell

Brands

Inc

8,013‌

128‌

Scotts

Miracle-Gro

Co/The

571‌

41‌

$

169‌

Insurance

-

6

.01

%

Aflac

Inc

13,463‌

990‌

Allstate

Corp/The

140,195‌

18,011‌

American

Financial

Group

Inc/OH

1,446‌

206‌

American

International

Group

Inc

765,457‌

48,392‌

Aon

PLC

264‌

84‌

Arch

Capital

Group

Ltd

(d)

5,267‌

339‌

Arthur

J

Gallagher

&

Co

147,545‌

28,878‌

Assurant

Inc

1,097‌

145‌

Assured

Guaranty

Ltd

1,331‌

83‌

Axis

Capital

Holdings

Ltd

1,628‌

102‌

Berkshire

Hathaway

Inc

-

Class

B

(d)

109,353‌

34,065‌

Brighthouse

Financial

Inc

(d)

1,499‌

84‌

Brown

&

Brown

Inc

4,728‌

277‌

Chubb

Ltd

9,060‌

2,061‌

Cincinnati

Financial

Corp

3,368‌

381‌

CNA

Financial

Corp

686‌

30‌

Corebridge

Financial

Inc

1,753‌

38‌

Equitable

Holdings

Inc

8,135‌

261‌

Erie

Indemnity

Co

139‌

34‌

Everest

Re

Group

Ltd

583‌

204‌

F&G

Annuities

&

Life

Inc

441‌

10‌

Fidelity

National

Financial

Inc

5,755‌

253‌

First

American

Financial

Corp

2,203‌

136‌

Globe

Life

Inc

1,958‌

237‌

Hanover

Insurance

Group

Inc/The

765‌

103‌

Hartford

Financial

Services

Group

Inc/The

6,933‌

538‌

Kemper

Corp

1,398‌

82‌

Lincoln

National

Corp

2,940‌

104‌

Loews

Corp

4,290‌

264‌

Markel

Corp

(d)

225‌

317‌

Schedule

of

Investments

LargeCap

Value

Fund

III

January

31,

2023

(unaudited)

See

accompanying

notes.

130

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Insurance

(continued)

Marsh

&

McLennan

Cos

Inc

1,161‌

$

203‌

MetLife

Inc

14,433‌

1,054‌

MGIC

Investment

Corp

6,741‌

95‌

Old

Republic

International

Corp

6,292‌

166‌

Primerica

Inc

822‌

133‌

Progressive

Corp/The

1,643‌

224‌

Prudential

Financial

Inc

8,042‌

844‌

Reinsurance

Group

of

America

Inc

1,439‌

218‌

RenaissanceRe

Holdings

Ltd

425‌

83‌

Travelers

Cos

Inc/The

5,111‌

977‌

Unum

Group

4,331‌

182‌

Voya

Financial

Inc

2,128‌

149‌

W

R

Berkley

Corp

4,455‌

313‌

White

Mountains

Insurance

Group

Ltd

61‌

93‌

Willis

Towers

Watson

PLC

87,603‌

22,268‌

$

163,711‌

Internet

-

1

.30

%

Alphabet

Inc

-

A

Shares

(d)

236,934‌

23,419‌

Alphabet

Inc

-

C

Shares

(d)

15,155‌

1,513‌

DoorDash

Inc

-

Class

A

(d)

619‌

36‌

eBay

Inc

10,417‌

516‌

F5

Inc

(d)

1,306‌

193‌

Gen

Digital

Inc

7,846‌

180‌

GoDaddy

Inc

(d)

2,945‌

242‌

IAC

Inc

(d)

1,716‌

97‌

Lyft

Inc

(d)

1,388‌

22‌

Match

Group

Inc

(d)

405‌

22‌

Meta

Platforms

Inc

(d)

38,660‌

5,759‌

Netflix

Inc

(d)

5,251‌

1,858‌

Okta

Inc

(d)

2,812‌

207‌

Opendoor

Technologies

Inc

(d)

8,333‌

18‌

Pinterest

Inc

(d)

10,043‌

264‌

Robinhood

Markets

Inc

(d)

12,003‌

125‌

Roku

Inc

(d)

1,856‌

107‌

TripAdvisor

Inc

(d)

2,027‌

47‌

Uber

Technologies

Inc

(d)

5,483‌

170‌

VeriSign

Inc

(d)

1,827‌

398‌

Wayfair

Inc

(d),(e)

607‌

37‌

Wix.com

Ltd

(d)

254‌

22‌

Zillow

Group

Inc

-

A

Shares

(d)

1,180‌

51‌

Zillow

Group

Inc

-

C

Shares

(d)

3,329‌

147‌

$

35,450‌

Investment

Companies

-

0

.00

%

Vitesse

Energy

Inc

521‌

8‌

Iron

&

Steel

-

0

.08

%

Cleveland-Cliffs

Inc

(d)

11,220‌

240‌

Nucor

Corp

5,600‌

946‌

Reliance

Steel

&

Aluminum

Co

1,277‌

290‌

Steel

Dynamics

Inc

3,635‌

439‌

United

States

Steel

Corp

5,147‌

147‌

$

2,062‌

Leisure

Products

&

Services

-

0

.04

%

Brunswick

Corp/DE

1,363‌

115‌

Carnival

Corp

(d)

21,143‌

229‌

Harley-Davidson

Inc

2,909‌

134‌

Norwegian

Cruise

Line

Holdings

Ltd

(d)

8,243‌

125‌

Peloton

Interactive

Inc

(d)

6,431‌

83‌

Planet

Fitness

Inc

(d)

478‌

40‌

Polaris

Inc

314‌

36‌

Royal

Caribbean

Cruises

Ltd

(d)

4,768‌

310‌

$

1,072‌

Lodging

-

1

.35

%

Boyd

Gaming

Corp

1,732‌

108‌

Hilton

Worldwide

Holdings

Inc

1,643‌

238‌

Hyatt

Hotels

Corp

(d)

1,043‌

114‌

Las

Vegas

Sands

Corp

(d)

604,871‌

35,688‌

MGM

Resorts

International

7,005‌

290‌

Travel

+

Leisure

Co

514‌

22‌

Wyndham

Hotels

&

Resorts

Inc

597‌

46‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Lodging

(continued)

Wynn

Resorts

Ltd

(d)

2,007‌

$

208‌

$

36,714‌

Machinery

-

Construction

&

Mining

-

0

.82

%

BWX

Technologies

Inc

1,202‌

73‌

Caterpillar

Inc

1,469‌

371‌

Oshkosh

Corp

1,438‌

145‌

Vertiv

Holdings

Co

1,528,437‌

21,734‌

$

22,323‌

Machinery

-

Diversified

-

1

.02

%

AGCO

Corp

1,185‌

164‌

Cognex

Corp

287‌

16‌

Crane

Holdings

Co

1,044‌

121‌

Deere

&

Co

56,333‌

23,820‌

Dover

Corp

3,060‌

464‌

Enovis

Corp

(d)

1,045‌

66‌

Esab

Corp

1,045‌

60‌

Flowserve

Corp

2,769‌

95‌

Gates

Industrial

Corp

PLC

(d)

2,135‌

28‌

Graco

Inc

1,139‌

78‌

IDEX

Corp

1,351‌

324‌

Ingersoll

Rand

Inc

8,880‌

497‌

Middleby

Corp/The

(d)

1,092‌

170‌

Nordson

Corp

960‌

233‌

Otis

Worldwide

Corp

8,046‌

662‌

Rockwell

Automation

Inc

818‌

231‌

Westinghouse

Air

Brake

Technologies

Corp

3,918‌

407‌

Xylem

Inc/NY

3,332‌

346‌

$

27,782‌

Media

-

1

.24

%

Altice

USA

Inc

(d)

4,460‌

22‌

Cable

One

Inc

53‌

42‌

Comcast

Corp

-

Class

A

701,918‌

27,620‌

DISH

Network

Corp

(d)

5,236‌

75‌

Fox

Corp

-

A

Shares

6,562‌

223‌

Fox

Corp

-

B

Shares

3,109‌

99‌

Liberty

Broadband

Corp

-

A

Shares

(d)

238‌

21‌

Liberty

Broadband

Corp

-

C

Shares

(d)

1,395‌

125‌

Liberty

Media

Corp-Liberty

Formula

One

-

A

Shares

(d)

402‌

26‌

Liberty

Media

Corp-Liberty

Formula

One

-

C

Shares

(d)

3,856‌

273‌

Liberty

Media

Corp-Liberty

SiriusXM

-

A

Shares

1,171‌

48‌

Liberty

Media

Corp-Liberty

SiriusXM

-

C

Shares

(d)

2,417‌

97‌

New

York

Times

Co/The

3,462‌

121‌

News

Corp

-

A

Shares

8,268‌

167‌

News

Corp

-

B

Shares

2,727‌

56‌

Nexstar

Media

Group

Inc

721‌

148‌

Paramount

Global

-

Class

A

(e)

241‌

6‌

Paramount

Global

-

Class

B

12,485‌

289‌

Sirius

XM

Holdings

Inc

(e)

15,296‌

89‌

Walt

Disney

Co/The

(d)

37,144‌

4,030‌

Warner

Bros

Discovery

Inc

(d)

13,584‌

201‌

$

33,778‌

Metal

Fabrication

&

Hardware

-

0

.01

%

Timken

Co/The

1,343‌

111‌

Valmont

Industries

Inc

391‌

129‌

$

240‌

Mining

-

0

.10

%

Alcoa

Corp

3,934‌

206‌

Freeport-McMoRan

Inc

31,119‌

1,389‌

Newmont

Corp

17,353‌

918‌

Royal

Gold

Inc

1,324‌

168‌

Southern

Copper

Corp

628‌

47‌

SSR

Mining

Inc

4,586‌

78‌

$

2,806‌

Schedule

of

Investments

LargeCap

Value

Fund

III

January

31,

2023

(unaudited)

See

accompanying

notes.

131

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Miscellaneous

Manufacturers

-

1

.28

%

3M

Co

12,047‌

$

1,386‌

A

O

Smith

Corp

2,105‌

142‌

Axon

Enterprise

Inc

(d)

327‌

64‌

Carlisle

Cos

Inc

174‌

44‌

Donaldson

Co

Inc

2,220‌

138‌

Eaton

Corp

PLC

179,783‌

29,163‌

General

Electric

Co

22,587‌

1,818‌

Illinois

Tool

Works

Inc

683‌

161‌

ITT

Inc

1,835‌

168‌

Parker-Hannifin

Corp

2,143‌

699‌

Teledyne

Technologies

Inc

(d)

1,002‌

425‌

Textron

Inc

4,554‌

332‌

Trane

Technologies

PLC

2,116‌

379‌

$

34,919‌

Office

&

Business

Equipment

-

0

.01

%

Zebra

Technologies

Corp

(d)

666‌

211‌

Oil

&

Gas

-

8

.51

%

Antero

Resources

Corp

(d)

2,216‌

64‌

APA

Corp

7,089‌

314‌

Chesapeake

Energy

Corp

2,645‌

229‌

Chevron

Corp

199,673‌

34,747‌

ConocoPhillips

203,651‌

24,819‌

Coterra

Energy

Inc

14,405‌

361‌

Devon

Energy

Corp

7,280‌

460‌

Diamondback

Energy

Inc

1,644‌

240‌

EOG

Resources

Inc

168,490‌

22,283‌

EQT

Corp

7,977‌

261‌

Exxon

Mobil

Corp

89,923‌

10,432‌

Hess

Corp

276,457‌

41,512‌

HF

Sinclair

Corp

2,946‌

168‌

Marathon

Oil

Corp

13,834‌

380‌

Marathon

Petroleum

Corp

10,223‌

1,314‌

Occidental

Petroleum

Corp

3,083‌

200‌

Ovintiv

Inc

1,608‌

79‌

PDC

Energy

Inc

947‌

64‌

Phillips

66

392,150‌

39,321‌

Pioneer

Natural

Resources

Co

115,871‌

26,691‌

Range

Resources

Corp

1,750‌

44‌

Southwestern

Energy

Co

(d)

22,329‌

123‌

Valero

Energy

Corp

197,666‌

27,679‌

$

231,785‌

Oil

&

Gas

Services

-

1

.51

%

Baker

Hughes

Co

20,580‌

653‌

Halliburton

Co

659,585‌

27,189‌

NOV

Inc

8,471‌

207‌

Schlumberger

Ltd

229,546‌

13,079‌

$

41,128‌

Packaging

&

Containers

-

0

.06

%

Amcor

PLC

32,472‌

392‌

AptarGroup

Inc

1,454‌

168‌

Ardagh

Group

SA

(d),(f)

412‌

—‌

Ardagh

Metal

Packaging

SA

2,575‌

15‌

Ball

Corp

4,089‌

238‌

Berry

Global

Group

Inc

1,458‌

90‌

Crown

Holdings

Inc

301‌

27‌

Graphic

Packaging

Holding

Co

1,513‌

36‌

Packaging

Corp

of

America

1,993‌

284‌

Silgan

Holdings

Inc

1,760‌

95‌

Sonoco

Products

Co

2,130‌

130‌

Westrock

Co

5,565‌

218‌

$

1,693‌

Pharmaceuticals

-

7

.10

%

Becton

Dickinson

and

Co

114,031‌

28,761‌

Bristol-Myers

Squibb

Co

46,534‌

3,381‌

Cardinal

Health

Inc

5,722‌

442‌

Cigna

Corp

5,495‌

1,740‌

CVS

Health

Corp

286,265‌

25,254‌

Elanco

Animal

Health

Inc

(d)

9,637‌

132‌

Eli

Lilly

&

Co

3,425‌

1,179‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Pharmaceuticals

(continued)

Henry

Schein

Inc

(d)

2,967‌

$

256‌

Jazz

Pharmaceuticals

PLC

(d)

1,327‌

208‌

Johnson

&

Johnson

279,950‌

45,750‌

McKesson

Corp

31,383‌

11,884‌

Merck

&

Co

Inc

403,266‌

43,314‌

Organon

&

Co

5,500‌

166‌

Perrigo

Co

PLC

665,784‌

24,914‌

Pfizer

Inc

123,383‌

5,448‌

Premier

Inc

2,589‌

86‌

Viatris

Inc

26,224‌

319‌

$

193,234‌

Pipelines

-

0

.10

%

Antero

Midstream

Corp

7,027‌

77‌

Cheniere

Energy

Inc

2,301‌

351‌

DT

Midstream

Inc

2,074‌

113‌

Kinder

Morgan

Inc

43,504‌

796‌

ONEOK

Inc

8,538‌

585‌

Williams

Cos

Inc/The

26,608‌

858‌

$

2,780‌

Private

Equity

-

0

.03

%

Carlyle

Group

Inc/The

4,479‌

161‌

KKR

&

Co

Inc

12,386‌

691‌

$

852‌

Real

Estate

-

0

.02

%

CBRE

Group

Inc

(d)

3,580‌

306‌

Howard

Hughes

Corp/The

(d)

808‌

69‌

Jones

Lang

LaSalle

Inc

(d)

1,044‌

193‌

WeWork

Inc

(d),(e)

3,349‌

6‌

$

574‌

REITs

-

4

.26

%

AGNC

Investment

Corp

12,543‌

146‌

Alexandria

Real

Estate

Equities

Inc

152,987‌

24,591‌

American

Homes

4

Rent

6,643‌

228‌

American

Tower

Corp

2,342‌

523‌

Americold

Realty

Trust

Inc

5,876‌

185‌

Annaly

Capital

Management

Inc

10,220‌

240‌

Apartment

Income

REIT

Corp

3,120‌

119‌

AvalonBay

Communities

Inc

3,022‌

536‌

Boston

Properties

Inc

3,391‌

253‌

Brixmor

Property

Group

Inc

6,563‌

154‌

Camden

Property

Trust

2,055‌

253‌

Cousins

Properties

Inc

3,148‌

86‌

CubeSmart

4,828‌

221‌

Digital

Realty

Trust

Inc

6,263‌

718‌

Douglas

Emmett

Inc

3,540‌

59‌

EastGroup

Properties

Inc

887‌

149‌

EPR

Properties

1,605‌

68‌

Equinix

Inc

497‌

367‌

Equity

LifeStyle

Properties

Inc

1,486‌

107‌

Equity

Residential

8,018‌

510‌

Essex

Property

Trust

Inc

1,406‌

318‌

Extra

Space

Storage

Inc

2,554‌

403‌

Federal

Realty

Investment

Trust

1,733‌

193‌

First

Industrial

Realty

Trust

Inc

2,867‌

153‌

Gaming

and

Leisure

Properties

Inc

5,318‌

285‌

Healthcare

Realty

Trust

Inc

8,198‌

177‌

Healthpeak

Properties

Inc

11,673‌

321‌

Highwoods

Properties

Inc

2,190‌

67‌

Host

Hotels

&

Resorts

Inc

15,326‌

289‌

Hudson

Pacific

Properties

Inc

3,285‌

37‌

Invitation

Homes

Inc

13,214‌

430‌

Iron

Mountain

Inc

1,567‌

86‌

JBG

SMITH

Properties

2,338‌

47‌

Kilroy

Realty

Corp

2,443‌

100‌

Kimco

Realty

Corp

13,083‌

294‌

Lamar

Advertising

Co

257‌

27‌

Life

Storage

Inc

1,835‌

198‌

Medical

Properties

Trust

Inc

12,854‌

167‌

Mid-America

Apartment

Communities

Inc

2,483‌

414‌

Schedule

of

Investments

LargeCap

Value

Fund

III

January

31,

2023

(unaudited)

See

accompanying

notes.

132

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

(continued)

National

Retail

Properties

Inc

3,893‌

$

184‌

National

Storage

Affiliates

Trust

1,834‌

75‌

Omega

Healthcare

Investors

Inc

5,124‌

151‌

Park

Hotels

&

Resorts

Inc

4,934‌

73‌

Prologis

Inc

162,905‌

21,060‌

Public

Storage

698‌

212‌

Rayonier

Inc

3,103‌

113‌

Realty

Income

Corp

13,702‌

929‌

Regency

Centers

Corp

3,708‌

247‌

Rexford

Industrial

Realty

Inc

4,009‌

254‌

Rithm

Capital

Corp

9,101‌

86‌

SBA

Communications

Corp

1,783‌

531‌

Simon

Property

Group

Inc

3,635‌

467‌

SL

Green

Realty

Corp

1,414‌

58‌

Spirit

Realty

Capital

Inc

3,037‌

133‌

Starwood

Property

Trust

Inc

6,320‌

132‌

STORE

Capital

Corp

5,485‌

177‌

Sun

Communities

Inc

2,655‌

417‌

UDR

Inc

7,052‌

300‌

Ventas

Inc

8,644‌

448‌

VICI

Properties

Inc

1,595,353‌

54,529‌

Vornado

Realty

Trust

3,736‌

91‌

Welltower

Inc

10,328‌

775‌

Weyerhaeuser

Co

16,121‌

555‌

WP

Carey

Inc

4,501‌

385‌

$

115,901‌

Retail

-

7

.04

%

Advance

Auto

Parts

Inc

146,529‌

22,313‌

AutoNation

Inc

(d)

738‌

94‌

AutoZone

Inc

(d)

40‌

98‌

Bath

&

Body

Works

Inc

4,988‌

230‌

Best

Buy

Co

Inc

2,989‌

265‌

BJ's

Wholesale

Club

Holdings

Inc

(d)

1,068‌

77‌

Burlington

Stores

Inc

(d)

102‌

23‌

CarMax

Inc

(d)

3,070‌

216‌

Casey's

General

Stores

Inc

800‌

189‌

Darden

Restaurants

Inc

726‌

107‌

Dick's

Sporting

Goods

Inc

1,200‌

157‌

Dollar

General

Corp

173,329‌

40,489‌

Dollar

Tree

Inc

(d)

3,174‌

477‌

Domino's

Pizza

Inc

65,892‌

23,260‌

Freshpet

Inc

(d)

430‌

27‌

GameStop

Corp

(d),(e)

5,803‌

127‌

Gap

Inc/The

4,517‌

61‌

Genuine

Parts

Co

2,760‌

463‌

Home

Depot

Inc/The

78,736‌

25,524‌

Kohl's

Corp

2,536‌

82‌

Leslie's

Inc

(d)

355‌

6‌

Lithia

Motors

Inc

57,814‌

15,216‌

Lowe's

Cos

Inc

1,862‌

388‌

Macy's

Inc

5,893‌

139‌

McDonald's

Corp

12,224‌

3,269‌

MSC

Industrial

Direct

Co

Inc

1,010‌

84‌

Nordstrom

Inc

(e)

494‌

10‌

Ollie's

Bargain

Outlet

Holdings

Inc

(d)

1,281‌

70‌

O'Reilly

Automotive

Inc

(d)

27,406‌

21,715‌

Penske

Automotive

Group

Inc

592‌

76‌

Petco

Health

&

Wellness

Co

Inc

(d)

1,825‌

21‌

RH

(d)

279‌

87‌

Ross

Stores

Inc

4,303‌

509‌

Starbucks

Corp

16,035‌

1,750‌

Target

Corp

4,545‌

782‌

Victoria's

Secret

&

Co

(d)

535‌

23‌

Walgreens

Boots

Alliance

Inc

15,538‌

573‌

Walmart

Inc

221,737‌

31,902‌

Williams-Sonoma

Inc

312‌

42‌

Yum!

Brands

Inc

5,451‌

711‌

$

191,652‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Savings

&

Loans

-

0

.01

%

New

York

Community

Bancorp

Inc

14,496‌

$

145‌

TFS

Financial

Corp

1,226‌

17‌

$

162‌

Semiconductors

-

4

.06

%

Advanced

Micro

Devices

Inc

(d)

7,420‌

558‌

Analog

Devices

Inc

8,959‌

1,536‌

ASML

Holding

NV

-

NY

Reg

Shares

35,212‌

23,269‌

Broadcom

Inc

52,092‌

30,474‌

Cirrus

Logic

Inc

(d)

1,237‌

112‌

GLOBALFOUNDRIES

Inc

(d),(e)

1,021‌

61‌

Intel

Corp

89,516‌

2,530‌

IPG

Photonics

Corp

(d)

748‌

84‌

Marvell

Technology

Inc

18,531‌

800‌

Microchip

Technology

Inc

373,544‌

28,995‌

Micron

Technology

Inc

19,241‌

1,160‌

MKS

Instruments

Inc

1,267‌

130‌

ON

Semiconductor

Corp

(d)

3,532‌

259‌

Qorvo

Inc

(d)

2,250‌

244‌

QUALCOMM

Inc

140,466‌

18,711‌

Skyworks

Solutions

Inc

3,479‌

382‌

Teradyne

Inc

318‌

32‌

Texas

Instruments

Inc

6,248‌

1,107‌

Wolfspeed

Inc

(d)

2,687‌

207‌

$

110,651‌

Shipbuilding

-

0

.00

%

Huntington

Ingalls

Industries

Inc

663‌

146‌

Software

-

4

.27

%

Activision

Blizzard

Inc

16,968‌

1,299‌

Akamai

Technologies

Inc

(d)

3,431‌

305‌

ANSYS

Inc

(d)

891‌

237‌

Bill.com

Holdings

Inc

(d)

2,159‌

250‌

Black

Knight

Inc

(d)

3,032‌

184‌

Broadridge

Financial

Solutions

Inc

237‌

36‌

CCC

Intelligent

Solutions

Holdings

Inc

(d)

2,341‌

22‌

Ceridian

HCM

Holding

Inc

(d)

2,398‌

173‌

Concentrix

Corp

938‌

133‌

Coupa

Software

Inc

(d)

719‌

57‌

Definitive

Healthcare

Corp

(d)

191‌

2‌

DoubleVerify

Holdings

Inc

(d)

166‌

5‌

Doximity

Inc

(d)

1,272‌

45‌

Dropbox

Inc

-

A

Shares

(d)

488‌

11‌

Electronic

Arts

Inc

154,541‌

19,887‌

Fidelity

National

Information

Services

Inc

420,740‌

31,573‌

Fiserv

Inc

(d)

11,661‌

1,244‌

Guidewire

Software

Inc

(d)

1,765‌

129‌

Informatica

Inc

(d)

720‌

13‌

Jamf

Holding

Corp

(d)

230‌

5‌

Manhattan

Associates

Inc

(d)

519‌

68‌

Microsoft

Corp

144,397‌

35,783‌

MSCI

Inc

423‌

225‌

nCino

Inc

(d)

1,224‌

35‌

Nutanix

Inc

(d)

2,402‌

67‌

Oracle

Corp

217,909‌

19,276‌

Paycor

HCM

Inc

(d)

1,196‌

30‌

Playtika

Holding

Corp

(d)

277‌

3‌

Procore

Technologies

Inc

(d)

392‌

22‌

Roper

Technologies

Inc

2,308‌

985‌

Salesforce

Inc

(d)

16,528‌

2,776‌

SentinelOne

Inc

(d)

1,154‌

17‌

Snowflake

Inc

-

Class

A

(d)

436‌

68‌

SS&C

Technologies

Holdings

Inc

4,830‌

291‌

Take-Two

Interactive

Software

Inc

(d)

587‌

66‌

Teradata

Corp

(d)

1,030‌

36‌

Twilio

Inc

(d)

2,309‌

138‌

Tyler

Technologies

Inc

(d)

120‌

39‌

UiPath

Inc

(d)

7,328‌

113‌

Unity

Software

Inc

(d),(e)

1,772‌

63‌

VMware

Inc

(d)

2,369‌

290‌

Schedule

of

Investments

LargeCap

Value

Fund

III

January

31,

2023

(unaudited)

See

accompanying

notes.

133

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Software

(continued)

Zoom

Video

Communications

Inc

(d)

2,709‌

$

203‌

$

116,204‌

Telecommunications

-

3

.27

%

AT&T

Inc

1,875,756‌

38,209‌

Ciena

Corp

(d)

3,252‌

169‌

Cisco

Systems

Inc

89,795‌

4,370‌

Corning

Inc

15,385‌

532‌

Frontier

Communications

Parent

Inc

(d)

5,298‌

157‌

Juniper

Networks

Inc

7,010‌

226‌

Lumen

Technologies

Inc

22,205‌

117‌

Motorola

Solutions

Inc

88,147‌

22,655‌

T-Mobile

US

Inc

(d)

125,525‌

18,742‌

Ubiquiti

Inc

71‌

21‌

Verizon

Communications

Inc

91,865‌

3,819‌

Viasat

Inc

(d)

1,563‌

54‌

$

89,071‌

Toys,

Games

&

Hobbies

-

0

.01

%

Hasbro

Inc

2,886‌

171‌

Mattel

Inc

(d)

3,938‌

80‌

$

251‌

Transportation

-

2

.49

%

CH

Robinson

Worldwide

Inc

1,854‌

186‌

CSX

Corp

34,349‌

1,062‌

Expeditors

International

of

Washington

Inc

2,395‌

259‌

FedEx

Corp

5,245‌

1,017‌

JB

Hunt

Transport

Services

Inc

190,125‌

35,943‌

Kirby

Corp

(d)

1,280‌

90‌

Knight-Swift

Transportation

Holdings

Inc

3,385‌

200‌

Landstar

System

Inc

114‌

20‌

Norfolk

Southern

Corp

5,049‌

1,241‌

RXO

Inc

(d)

2,044‌

37‌

Ryder

System

Inc

1,068‌

101‌

Schneider

National

Inc

1,231‌

33‌

Union

Pacific

Corp

133,286‌

27,216‌

United

Parcel

Service

Inc

1,717‌

318‌

XPO

Inc

(d)

2,044‌

81‌

$

67,804‌

Water

-

0

.03

%

American

Water

Works

Co

Inc

3,974‌

622‌

Essential

Utilities

Inc

5,008‌

234‌

$

856‌

TOTAL

COMMON

STOCKS

$

2,647,577‌

Total

Investments

$

2,724,214‌

Other

Assets

and

Liabilities

-  (0.05)%

(

1,394‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,722,820‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$904

or

0.03%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$914

or

0.03%

of

net

assets.

(f)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

Portfolio

Summary  (unaudited)

Sector

Percent

Consumer,

Non-cyclical

21

.96‌

%

Financial

21

.48‌

%

Energy

10

.14‌

%

Technology

10

.01‌

%

Industrial

9

.71‌

%

Consumer,

Cyclical

9

.64‌

%

Communications

5

.84‌

%

Basic

Materials

4

.29‌

%

Utilities

4

.17‌

%

Money

Market

Funds

2

.39‌

%

Investment

Companies

0

.42‌

%

Other

Assets

and

Liabilities

(

0

.05‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

144,586‌

$

80,471‌

$

64,115‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

99,651‌

108,848‌

208,499‌

—‌

$

99,651‌

$

253,434‌

$

288,970‌

$

64,115‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

446‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

391‌

—‌

—‌

—‌

$

837‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

LargeCap

Value

Fund

III

January

31,

2023

(unaudited)

See

accompanying

notes.

134

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

500

Emini;

March

2023

Long

22‌

$

4,499‌

$

219‌

Total

$

219‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

MidCap

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

135

INVESTMENT

COMPANIES

-

0

.05

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

0

.05

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

1,051‌

$

1‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(c)

9,356,160‌

9,356‌

$

9,357‌

TOTAL

INVESTMENT

COMPANIES

$

9,357‌

COMMON

STOCKS

-

100

.01

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

9

.35

%

HEICO

Corp

-

Class

A

5,669,457‌

$

757,893‌

TransDigm

Group

Inc

1,464,321‌

1,051,016‌

$

1,808,909‌

Banks

-

0

.76

%

First

Republic

Bank/CA

1,042,626‌

146,885‌

Beverages

-

0

.07

%

Brown-Forman

Corp

-

B

Shares

212,923‌

14,176‌

Building

Materials

-

4

.67

%

Martin

Marietta

Materials

Inc

669,042‌

240,614‌

Summit

Materials

Inc

(d)

2,529,939‌

83,134‌

Vulcan

Materials

Co

3,163,632‌

579,989‌

$

903,737‌

Chemicals

-

1

.09

%

Air

Products

and

Chemicals

Inc

415,682‌

133,230‌

Perimeter

Solutions

SA

(c),(d)

8,103,363‌

75,362‌

Perimeter

Solutions

SA

-

Warrants

(d)

2,883,826‌

1,413‌

$

210,005‌

Commercial

Services

-

8

.92

%

CoStar

Group

Inc

(d)

10,570,288‌

823,425‌

Gartner

Inc

(d)

718,101‌

242,819‌

Moody's

Corp

876,991‌

283,049‌

TransUnion

2,743,222‌

196,826‌

Verisk

Analytics

Inc

988,698‌

179,735‌

$

1,725,854‌

Distribution

&

Wholesale

-

5

.91

%

Copart

Inc

(d)

13,001,398‌

866,023‌

Fastenal

Co

5,483,094‌

277,170‌

$

1,143,193‌

Diversified

Financial

Services

-

1

.38

%

Brookfield

Asset

Management

Ltd

5,286,879‌

172,617‌

Brookfield

Reinsurance

Ltd

(d)

157,227‌

5,838‌

Credit

Acceptance

Corp

(d)

191,385‌

88,542‌

$

266,997‌

Electric

-

3

.40

%

Brookfield

Infrastructure

Partners

LP

12,265,035‌

433,446‌

Brookfield

Renewable

Corp

2,135,650‌

67,316‌

Brookfield

Renewable

Partners

LP

5,398,087‌

157,354‌

$

658,116‌

Electronics

-

2

.39

%

Agilent

Technologies

Inc

2,081,022‌

316,482‌

Mettler-Toledo

International

Inc

(d)

95,239‌

145,994‌

$

462,476‌

Entertainment

-

3

.77

%

Live

Nation

Entertainment

Inc

(d)

5,186,029‌

417,424‌

Vail

Resorts

Inc

1,184,148‌

310,649‌

$

728,073‌

Healthcare

-

Products

-

0

.96

%

IDEXX

Laboratories

Inc

(d)

388,017‌

186,442‌

Home

Builders

-

1

.82

%

Lennar

Corp

-

A

Shares

1,252,431‌

128,249‌

Lennar

Corp

-

B

Shares

38,859‌

3,356‌

NVR

Inc

(d)

41,924‌

220,939‌

$

352,544‌

Insurance

-

9

.73

%

Aon

PLC

500,242‌

159,417‌

Arch

Capital

Group

Ltd

(d)

4,407,054‌

283,594‌

Brown

&

Brown

Inc

8,214,701‌

481,053‌

F&G

Annuities

&

Life

Inc

63,059‌

1,353‌

Fidelity

National

Financial

Inc

894,155‌

39,370‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Insurance

(continued)

Markel

Corp

(d)

433,408‌

$

610,663‌

Progressive

Corp/The

2,252,319‌

307,104‌

$

1,882,554‌

Internet

-

2

.68

%

VeriSign

Inc

(d)

1,751,800‌

381,980‌

Wix.com

Ltd

(d)

1,556,648‌

135,397‌

$

517,377‌

Lodging

-

4

.75

%

Hilton

Worldwide

Holdings

Inc

5,045,095‌

731,993‌

Hyatt

Hotels

Corp

(d)

1,702,849‌

185,815‌

$

917,808‌

Machinery

-

Diversified

-

0

.58

%

Cognex

Corp

979,442‌

53,615‌

Enovis

Corp

(d)

490,793‌

30,895‌

Esab

Corp

476,510‌

27,547‌

$

112,057‌

Media

-

1

.74

%

Liberty

Broadband

Corp

-

A

Shares

(d)

176,613‌

15,828‌

Liberty

Broadband

Corp

-

C

Shares

(d)

182,499‌

16,385‌

Liberty

Media

Corp-Liberty

Formula

One

-

A

Shares

(d)

526,842‌

33,549‌

Liberty

Media

Corp-Liberty

Formula

One

-

C

Shares

(d)

3,833,216‌

271,392‌

$

337,154‌

Private

Equity

-

8

.62

%

Ares

Management

Corp

1,280,571‌

106,275‌

Brookfield

Corp

21,438,095‌

797,497‌

KKR

&

Co

Inc

11,559,579‌

645,140‌

Onex

Corp

2,304,291‌

118,844‌

$

1,667,756‌

Real

Estate

-

2

.52

%

CBRE

Group

Inc

(d)

3,906,698‌

334,062‌

Howard

Hughes

Corp/The

(d)

1,603,964‌

137,123‌

Kennedy-Wilson

Holdings

Inc

867,228‌

15,506‌

$

486,691‌

REITs

-

2

.82

%

SBA

Communications

Corp

1,832,003‌

545,076‌

Retail

-

10

.58

%

CarMax

Inc

(d)

6,507,897‌

458,481‌

Dollar

General

Corp

1,209,696‌

282,585‌

Domino's

Pizza

Inc

1,181,899‌

417,210‌

O'Reilly

Automotive

Inc

(d)

1,022,401‌

810,100‌

Ross

Stores

Inc

660,588‌

78,075‌

$

2,046,451‌

Semiconductors

-

1

.72

%

Microchip

Technology

Inc

4,276,310‌

331,927‌

Software

-

9

.78

%

ANSYS

Inc

(d)

380,133‌

101,252‌

Autodesk

Inc

(d)

1,701,513‌

366,097‌

Black

Knight

Inc

(d)

4,964,990‌

300,829‌

Constellation

Software

Inc/Canada

82,765‌

145,703‌

Guidewire

Software

Inc

(d)

487,057‌

35,672‌

MSCI

Inc

277,906‌

147,724‌

Roper

Technologies

Inc

1,197,145‌

510,882‌

Tyler

Technologies

Inc

(d)

880,753‌

284,281‌

$

1,892,440‌

TOTAL

COMMON

STOCKS

$

19,344,698‌

Total

Investments

$

19,354,055‌

Other

Assets

and

Liabilities

-  (0.06)%

(

11,536‌

)

TOTAL

NET

ASSETS

-

100.00%

$

19,342,519‌

Schedule

of

Investments

MidCap

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

136

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1

or

0.00%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Sector

Percent

Consumer,

Cyclical

26

.83‌

%

Financial

25

.83‌

%

Industrial

16

.99‌

%

Technology

11

.50‌

%

Consumer,

Non-cyclical

9

.95‌

%

Communications

4

.42‌

%

Utilities

3

.40‌

%

Basic

Materials

1

.09‌

%

Money

Market

Funds

0

.05‌

%

Other

Assets

and

Liabilities

(

0

.06‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Perimeter

Solutions

SA

$

64,746‌

$

—‌

$

—‌

$

75,362‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

—‌

182,995‌

173,639‌

9,356‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

1‌

26,790‌

26,791‌

—‌

$

64,747‌

$

209,785‌

$

200,430‌

$

84,718‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Perimeter

Solutions

SA

$

—‌

$

—‌

$

—‌

$

10,616‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

137‌

—‌

—‌

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

12‌

—‌

—‌

—‌

$

149‌

$

—‌

$

—‌

$

10,616‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

MidCap

Growth

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

137

INVESTMENT

COMPANIES

-

3

.44

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

3

.44

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

1,570,412‌

$

1,571‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b),(c)

6,544,346‌

6,544‌

$

8,115‌

TOTAL

INVESTMENT

COMPANIES

$

8,115‌

COMMON

STOCKS

-

98

.35

%

Shares

Held

Value

(000's)

Advertising

-

2

.08

%

Trade

Desk

Inc/The

(d)

96,346‌

$

4,885‌

Apparel

-

1

.38

%

Deckers

Outdoor

Corp

(d)

7,626‌

3,260‌

Automobile

Parts

&

Equipment

-

4

.75

%

Mobileye

Global

Inc

(d),(e)

201,304‌

7,770‌

Visteon

Corp

(d)

21,838‌

3,414‌

$

11,184‌

Banks

-

0

.57

%

SVB

Financial

Group

(d)

4,419‌

1,336‌

Beverages

-

5

.06

%

Celsius

Holdings

Inc

(d)

50,869‌

5,103‌

Monster

Beverage

Corp

(d)

65,408‌

6,808‌

$

11,911‌

Biotechnology

-

8

.45

%

Argenx

SE

ADR

(d)

16,132‌

6,166‌

Corteva

Inc

73,570‌

4,742‌

Seagen

Inc

(d)

17,289‌

2,412‌

United

Therapeutics

Corp

(d)

25,026‌

6,586‌

$

19,906‌

Building

Materials

-

3

.29

%

AZEK

Co

Inc/The

(d)

127,170‌

3,069‌

Vulcan

Materials

Co

25,513‌

4,677‌

$

7,746‌

Chemicals

-

1

.34

%

FMC

Corp

23,704‌

3,156‌

Commercial

Services

-

8

.60

%

Block

Inc

(d)

35,777‌

2,924‌

Cintas

Corp

9,402‌

4,172‌

MarketAxess

Holdings

Inc

9,163‌

3,334‌

Quanta

Services

Inc

35,590‌

5,416‌

United

Rentals

Inc

9,985‌

4,403‌

$

20,249‌

Computers

-

0

.65

%

Crowdstrike

Holdings

Inc

(d)

14,404‌

1,525‌

Diversified

Financial

Services

-

3

.79

%

Ameriprise

Financial

Inc

13,252‌

4,640‌

Interactive

Brokers

Group

Inc

-

A

Shares

53,712‌

4,294‌

$

8,934‌

Electronics

-

4

.46

%

Agilent

Technologies

Inc

36,278‌

5,517‌

Keysight

Technologies

Inc

(d)

27,840‌

4,993‌

$

10,510‌

Energy

-

Alternate

Sources

-

1

.49

%

First

Solar

Inc

(d)

19,744‌

3,507‌

Food

-

1

.54

%

Lamb

Weston

Holdings

Inc

36,293‌

3,625‌

Hand

&

Machine

Tools

-

1

.30

%

Lincoln

Electric

Holdings

Inc

18,296‌

3,053‌

Healthcare

-

Products

-

6

.32

%

Exact

Sciences

Corp

(d)

86,792‌

5,860‌

Inspire

Medical

Systems

Inc

(d)

18,063‌

4,571‌

Insulet

Corp

(d)

15,524‌

4,461‌

$

14,892‌

Healthcare

-

Services

-

2

.23

%

Acadia

Healthcare

Co

Inc

(d)

26,748‌

2,248‌

Charles

River

Laboratories

International

Inc

(d)

12,301‌

2,992‌

$

5,240‌

Home

Builders

-

1

.97

%

DR

Horton

Inc

46,957‌

4,634‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Internet

-

6

.58

%

Etsy

Inc

(d)

38,499‌

$

5,297‌

Pinterest

Inc

(d)

146,507‌

3,852‌

Shopify

Inc

(d)

80,726‌

3,977‌

Zillow

Group

Inc

-

A

Shares

(d)

54,853‌

2,356‌

$

15,482‌

Lodging

-

1

.26

%

Las

Vegas

Sands

Corp

(d)

50,402‌

2,974‌

Metal

Fabrication

&

Hardware

-

1

.10

%

RBC

Bearings

Inc

(d)

10,644‌

2,597‌

Oil

&

Gas

-

3

.17

%

Chesapeake

Energy

Corp

29,184‌

2,531‌

Matador

Resources

Co

74,510‌

4,929‌

$

7,460‌

Pharmaceuticals

-

2

.32

%

Dexcom

Inc

(d)

51,071‌

5,469‌

Retail

-

10

.80

%

Academy

Sports

&

Outdoors

Inc

63,896‌

3,733‌

Chipotle

Mexican

Grill

Inc

(d)

1,859‌

3,061‌

Five

Below

Inc

(d)

12,940‌

2,551‌

Floor

&

Decor

Holdings

Inc

(d)

51,682‌

4,691‌

Tractor

Supply

Co

19,509‌

4,448‌

Ulta

Beauty

Inc

(d)

4,590‌

2,359‌

Wingstop

Inc

28,885‌

4,577‌

$

25,420‌

Semiconductors

-

3

.73

%

Lattice

Semiconductor

Corp

(d)

53,382‌

4,046‌

ON

Semiconductor

Corp

(d)

64,620‌

4,746‌

$

8,792‌

Software

-

9

.14

%

Cadence

Design

Systems

Inc

(d)

20,313‌

3,714‌

HubSpot

Inc

(d)

6,550‌

2,273‌

Manhattan

Associates

Inc

(d)

31,533‌

4,110‌

Procore

Technologies

Inc

(d)

89,848‌

5,027‌

Snowflake

Inc

-

Class

A

(d)

22,685‌

3,549‌

Synopsys

Inc

(d)

8,040‌

2,844‌

$

21,517‌

Telecommunications

-

0

.98

%

Motorola

Solutions

Inc

9,001‌

2,313‌

TOTAL

COMMON

STOCKS

$

231,577‌

Total

Investments

$

239,692‌

Other

Assets

and

Liabilities

-  (1.79)%

(

4,224‌

)

TOTAL

NET

ASSETS

-

100.00%

$

235,468‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$6,801

or

2.89%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$7,094

or

3.01%

of

net

assets.

Schedule

of

Investments

MidCap

Growth

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

138

Portfolio

Summary  (unaudited)

Sector

Percent

Consumer,

Non-cyclical

34

.52‌

%

Consumer,

Cyclical

20

.16‌

%

Technology

13

.52‌

%

Industrial

10

.15‌

%

Communications

9

.64‌

%

Energy

4

.66‌

%

Financial

4

.36‌

%

Money

Market

Funds

3

.44‌

%

Basic

Materials

1

.34‌

%

Other

Assets

and

Liabilities

(

1

.79‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

36,490‌

$

29,946‌

$

6,544‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

11,495‌

15,496‌

26,991‌

—‌

$

11,495‌

$

51,986‌

$

56,937‌

$

6,544‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

21‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

29‌

—‌

—‌

—‌

$

50‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

MidCap

Growth

Fund

III

January

31,

2023

(unaudited)

See

accompanying

notes.

139

INVESTMENT

COMPANIES

-

3

.31

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.28

%

iShares

Russell

Mid-Cap

Growth

ETF

38,100‌

$

3,463‌

Money

Market

Funds

-

3

.03

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

2,491,306‌

2,491‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b),(c)

34,944,216‌

34,945‌

$

37,436‌

TOTAL

INVESTMENT

COMPANIES

$

40,899‌

COMMON

STOCKS

-

97

.67

%

Shares

Held

Value

(000's)

Advertising

-

0

.09

%

Trade

Desk

Inc/The

(d)

20,980‌

$

1,064‌

Aerospace

&

Defense

-

1

.84

%

HEICO

Corp

78,126‌

13,356‌

HEICO

Corp

-

Class

A

3,519‌

470‌

Howmet

Aerospace

Inc

1,748‌

71‌

L3Harris

Technologies

Inc

14,999‌

3,222‌

Spirit

AeroSystems

Holdings

Inc

4,712‌

170‌

TransDigm

Group

Inc

7,456‌

5,352‌

$

22,641‌

Agriculture

-

0

.00

%

Darling

Ingredients

Inc

(d)

524‌

35‌

Airlines

-

0

.10

%

Delta

Air

Lines

Inc

(d)

30,614‌

1,197‌

Apparel

-

0

.05

%

Deckers

Outdoor

Corp

(d)

1,107‌

473‌

Skechers

USA

Inc

(d)

960‌

46‌

Tapestry

Inc

1,563‌

72‌

$

591‌

Automobile

Manufacturers

-

0

.02

%

Lucid

Group

Inc

(d),(e)

23,747‌

278‌

Automobile

Parts

&

Equipment

-

1

.20

%

Allison

Transmission

Holdings

Inc

3,483‌

157‌

Aptiv

PLC

(d)

129,138‌

14,604‌

$

14,761‌

Banks

-

0

.90

%

First

Citizens

BancShares

Inc/NC

131‌

102‌

Pinnacle

Financial

Partners

Inc

129,522‌

10,197‌

Signature

Bank/New

York

NY

149‌

19‌

SVB

Financial

Group

(d)

1,782‌

539‌

Western

Alliance

Bancorp

3,078‌

232‌

$

11,089‌

Beverages

-

1

.39

%

Boston

Beer

Co

Inc/The

(d)

22,728‌

8,832‌

Brown-Forman

Corp

-

A

Shares

1,272‌

85‌

Brown-Forman

Corp

-

B

Shares

5,136‌

342‌

Celsius

Holdings

Inc

(d)

24,285‌

2,436‌

Monster

Beverage

Corp

(d)

52,806‌

5,496‌

$

17,191‌

Biotechnology

-

1

.98

%

Alnylam

Pharmaceuticals

Inc

(d)

21,284‌

4,819‌

Certara

Inc

(d)

3,570‌

69‌

Corteva

Inc

145,849‌

9,400‌

Exelixis

Inc

(d)

13,020‌

229‌

Guardant

Health

Inc

(d)

4,637‌

146‌

Horizon

Therapeutics

Plc

(d)

9,839‌

1,080‌

Incyte

Corp

(d)

7,543‌

642‌

Ionis

Pharmaceuticals

Inc

(d)

6,176‌

246‌

Maravai

LifeSciences

Holdings

Inc

(d)

5,222‌

77‌

Moderna

Inc

(d)

9,288‌

1,635‌

Novavax

Inc

(d),(e)

3,710‌

40‌

Sarepta

Therapeutics

Inc

(d)

4,005‌

501‌

Seagen

Inc

(d)

39,092‌

5,453‌

Ultragenyx

Pharmaceutical

Inc

(d)

2,475‌

112‌

$

24,449‌

Building

Materials

-

1

.59

%

Armstrong

World

Industries

Inc

1,266‌

98‌

Eagle

Materials

Inc

1,449‌

212‌

Fortune

Brands

Innovations

Inc

53,006‌

3,420‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Building

Materials

(continued)

Louisiana-Pacific

Corp

338‌

$

23‌

Martin

Marietta

Materials

Inc

23,618‌

8,494‌

Masco

Corp

558‌

30‌

Masterbrand

Inc

(d)

2,114‌

19‌

Trex

Co

Inc

(d)

127,993‌

6,747‌

Vulcan

Materials

Co

3,087‌

566‌

$

19,609‌

Chemicals

-

1

.05

%

Albemarle

Corp

36,952‌

10,400‌

Axalta

Coating

Systems

Ltd

(d)

2,553‌

77‌

CF

Industries

Holdings

Inc

9,358‌

793‌

Chemours

Co/The

4,321‌

157‌

FMC

Corp

2,049‌

273‌

Mosaic

Co/The

2,019‌

100‌

PPG

Industries

Inc

5,979‌

779‌

RPM

International

Inc

309‌

28‌

Valvoline

Inc

8,416‌

308‌

$

12,915‌

Commercial

Services

-

7

.47

%

Booz

Allen

Hamilton

Holding

Corp

45,818‌

4,337‌

Bright

Horizons

Family

Solutions

Inc

(d)

771‌

59‌

Cintas

Corp

3,860‌

1,713‌

CoStar

Group

Inc

(d)

119,291‌

9,293‌

Driven

Brands

Holdings

Inc

(d)

162‌

5‌

Equifax

Inc

2,903‌

645‌

Euronet

Worldwide

Inc

(d)

83,355‌

9,392‌

FleetCor

Technologies

Inc

(d)

26,669‌

5,569‌

FTI

Consulting

Inc

(d)

673‌

107‌

Gartner

Inc

(d)

3,667‌

1,240‌

Global

Payments

Inc

49,079‌

5,532‌

GXO

Logistics

Inc

(d)

547‌

29‌

H&R

Block

Inc

6,134‌

239‌

MarketAxess

Holdings

Inc

36,173‌

13,162‌

Mister

Car

Wash

Inc

(d)

2,709‌

28‌

Moody's

Corp

21,076‌

6,802‌

Morningstar

Inc

1,071‌

260‌

Paylocity

Holding

Corp

(d)

1,888‌

393‌

Quanta

Services

Inc

3,711‌

565‌

Ritchie

Bros

Auctioneers

Inc

(e)

163,354‌

9,878‌

Robert

Half

International

Inc

4,454‌

374‌

Rollins

Inc

10,210‌

372‌

Shift4

Payments

Inc

(d)

2,402‌

154‌

Toast

Inc

(d)

138,745‌

3,095‌

TransUnion

88,456‌

6,347‌

United

Rentals

Inc

24,191‌

10,666‌

Verisk

Analytics

Inc

7,423‌

1,349‌

WEX

Inc

(d)

1,506‌

278‌

WillScot

Mobile

Mini

Holdings

Corp

(d)

5,173‌

251‌

$

92,134‌

Computers

-

3

.38

%

Crowdstrike

Holdings

Inc

(d)

73,561‌

7,790‌

Dell

Technologies

Inc

1,886‌

77‌

EPAM

Systems

Inc

(d)

33,948‌

11,293‌

Fortinet

Inc

(d)

110,677‌

5,793‌

Genpact

Ltd

4,536‌

214‌

Globant

SA

(d)

56,088‌

9,096‌

HP

Inc

22,103‌

644‌

KBR

Inc

4,221‌

216‌

NCR

Corp

(d)

178,921‌

4,906‌

NetApp

Inc

10,386‌

688‌

Pure

Storage

Inc

(d)

13,390‌

387‌

Thoughtworks

Holding

Inc

(d)

4,047‌

44‌

Zscaler

Inc

(d)

4,032‌

501‌

$

41,649‌

Consumer

Products

-

0

.13

%

Avery

Dennison

Corp

2,384‌

452‌

Church

&

Dwight

Co

Inc

5,235‌

423‌

Clorox

Co/The

4,882‌

706‌

$

1,581‌

Schedule

of

Investments

MidCap

Growth

Fund

III

January

31,

2023

(unaudited)

See

accompanying

notes.

140

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Cosmetics

&

Personal

Care

-

0

.00

%

Olaplex

Holdings

Inc

(d)

5,895‌

$

37‌

Distribution

&

Wholesale

-

5

.30

%

Copart

Inc

(d)

209,553‌

13,958‌

Core

&

Main

Inc

(d)

1,158‌

26‌

Fastenal

Co

197,409‌

9,979‌

IAA

Inc

(d)

5,279‌

220‌

Pool

Corp

54,114‌

20,867‌

SiteOne

Landscape

Supply

Inc

(d)

1,287‌

195‌

Watsco

Inc

28,371‌

8,153‌

WESCO

International

Inc

(d)

1,121‌

167‌

WW

Grainger

Inc

20,162‌

11,885‌

$

65,450‌

Diversified

Financial

Services

-

1

.17

%

Ameriprise

Financial

Inc

3,242‌

1,135‌

Apollo

Global

Management

Inc

17,612‌

1,247‌

Blue

Owl

Capital

Inc

19,782‌

249‌

Credit

Acceptance

Corp

(d),(e)

34‌

16‌

LPL

Financial

Holdings

Inc

47,892‌

11,356‌

Raymond

James

Financial

Inc

742‌

84‌

Rocket

Cos

Inc

(e)

3,012‌

28‌

Tradeweb

Markets

Inc

3,238‌

241‌

Upstart

Holdings

Inc

(d),(e)

682‌

13‌

UWM

Holdings

Corp

(e)

4,262‌

19‌

Western

Union

Co/The

6,149‌

87‌

$

14,475‌

Electric

-

0

.03

%

AES

Corp/The

5,716‌

157‌

Vistra

Corp

10,845‌

250‌

$

407‌

Electrical

Components

&

Equipment

-

0

.52

%

ChargePoint

Holdings

Inc

(d),(e)

12,133‌

147‌

Generac

Holdings

Inc

(d)

49,906‌

6,019‌

Universal

Display

Corp

2,067‌

274‌

$

6,440‌

Electronics

-

2

.75

%

Agilent

Technologies

Inc

12,698‌

1,931‌

Allegion

plc

3,302‌

388‌

Amphenol

Corp

21,106‌

1,683‌

Arrow

Electronics

Inc

(d)

162‌

19‌

Coherent

Corp

(d)

897‌

39‌

Jabil

Inc

5,125‌

403‌

Keysight

Technologies

Inc

(d)

117,378‌

21,051‌

Mettler-Toledo

International

Inc

(d)

5,420‌

8,309‌

National

Instruments

Corp

808‌

44‌

Vontier

Corp

4,679‌

108‌

$

33,975‌

Energy

-

Alternate

Sources

-

1

.30

%

Enphase

Energy

Inc

(d)

36,807‌

8,149‌

Enviva

Inc

1,456‌

66‌

Plug

Power

Inc

(d),(e)

12,282‌

209‌

SolarEdge

Technologies

Inc

(d)

23,959‌

7,646‌

$

16,070‌

Engineering

&

Construction

-

0

.02

%

AECOM

382‌

33‌

TopBuild

Corp

(d)

1,297‌

260‌

$

293‌

Entertainment

-

1

.48

%

Caesars

Entertainment

Inc

(d)

119,017‌

6,196‌

Churchill

Downs

Inc

1,705‌

423‌

DraftKings

Inc

(d)

16,957‌

254‌

Live

Nation

Entertainment

Inc

(d)

3,725‌

300‌

Madison

Square

Garden

Sports

Corp

452‌

82‌

Six

Flags

Entertainment

Corp

(d)

1,769‌

48‌

Vail

Resorts

Inc

41,531‌

10,895‌

$

18,198‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Environmental

Control

-

1

.17

%

Republic

Services

Inc

628‌

$

78‌

Tetra

Tech

Inc

1,041‌

162‌

Waste

Connections

Inc

106,862‌

14,202‌

$

14,442‌

Food

-

0

.94

%

Grocery

Outlet

Holding

Corp

(d)

331‌

10‌

Hershey

Co/The

6,047‌

1,358‌

Kellogg

Co

6,677‌

458‌

Lamb

Weston

Holdings

Inc

96,262‌

9,616‌

Performance

Food

Group

Co

(d)

2,235‌

137‌

Pilgrim's

Pride

Corp

(d)

1,172‌

28‌

$

11,607‌

Gas

-

0

.00

%

National

Fuel

Gas

Co

337‌

20‌

Hand

&

Machine

Tools

-

0

.04

%

Lincoln

Electric

Holdings

Inc

2,666‌

445‌

MSA

Safety

Inc

677‌

92‌

$

537‌

Healthcare

-

Products

-

7

.48

%

10X

Genomics

Inc

(d)

3,925‌

184‌

Align

Technology

Inc

(d)

36,753‌

9,913‌

Avantor

Inc

(d)

27,112‌

648‌

Bio-Techne

Corp

53,070‌

4,227‌

Bruker

Corp

5,123‌

359‌

Exact

Sciences

Corp

(d)

1,505‌

102‌

Globus

Medical

Inc

(d)

26,942‌

2,034‌

ICU

Medical

Inc

(d)

177‌

34‌

IDEXX

Laboratories

Inc

(d)

45,210‌

21,724‌

Insulet

Corp

(d)

57,322‌

16,469‌

Masimo

Corp

(d)

1,727‌

294‌

Natera

Inc

(d)

4,337‌

186‌

Novocure

Ltd

(d)

4,916‌

448‌

Penumbra

Inc

(d)

1,696‌

425‌

Repligen

Corp

(d)

76,881‌

14,245‌

ResMed

Inc

67,459‌

15,406‌

Tandem

Diabetes

Care

Inc

(d)

2,839‌

116‌

Waters

Corp

(d)

2,823‌

928‌

West

Pharmaceutical

Services

Inc

17,140‌

4,553‌

$

92,295‌

Healthcare

-

Services

-

2

.34

%

agilon

health

Inc

(d)

8,402‌

183‌

Catalent

Inc

(d)

119,739‌

6,412‌

Charles

River

Laboratories

International

Inc

(d)

15,131‌

3,681‌

Chemed

Corp

6,171‌

3,117‌

DaVita

Inc

(d)

2,658‌

219‌

Ginkgo

Bioworks

Holdings

Inc

(d)

8,391‌

16‌

ICON

PLC

(d)

53,679‌

12,384‌

IQVIA

Holdings

Inc

(d)

8,866‌

2,034‌

Molina

Healthcare

Inc

(d)

2,123‌

662‌

Signify

Health

Inc

(d)

198‌

6‌

Sotera

Health

Co

(d)

4,698‌

81‌

Syneos

Health

Inc

(d)

852‌

31‌

Teladoc

Health

Inc

(d)

734‌

21‌

$

28,847‌

Home

Builders

-

0

.86

%

DR

Horton

Inc

98,074‌

9,679‌

NVR

Inc

(d)

101‌

532‌

PulteGroup

Inc

4,237‌

241‌

Toll

Brothers

Inc

2,655‌

158‌

$

10,610‌

Housewares

-

0

.00

%

Scotts

Miracle-Gro

Co/The

656‌

47‌

Insurance

-

0

.81

%

Arch

Capital

Group

Ltd

(d)

5,480‌

353‌

Arthur

J

Gallagher

&

Co

1,129‌

221‌

Assurant

Inc

154‌

20‌

Brown

&

Brown

Inc

854‌

50‌

Erie

Indemnity

Co

882‌

215‌

Schedule

of

Investments

MidCap

Growth

Fund

III

January

31,

2023

(unaudited)

See

accompanying

notes.

141

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Insurance

(continued)

Everest

Re

Group

Ltd

571‌

$

200‌

Kinsale

Capital

Group

Inc

29,755‌

8,285‌

Lincoln

National

Corp

1,671‌

59‌

Markel

Corp

(d)

146‌

206‌

RenaissanceRe

Holdings

Ltd

1,121‌

219‌

Ryan

Specialty

Holdings

Inc

(d)

3,913‌

167‌

$

9,995‌

Internet

-

2

.23

%

CDW

Corp/DE

68,780‌

13,483‌

DoorDash

Inc

-

Class

A

(d)

10,570‌

612‌

eBay

Inc

3,402‌

168‌

Etsy

Inc

(d)

5,975‌

822‌

Expedia

Group

Inc

(d)

7,225‌

826‌

Gen

Digital

Inc

9,583‌

220‌

GoDaddy

Inc

(d)

1,028‌

84‌

Lyft

Inc

(d)

12,180‌

198‌

Match

Group

Inc

(d)

87,364‌

4,728‌

Okta

Inc

(d)

965‌

71‌

Opendoor

Technologies

Inc

(d)

6,410‌

14‌

Palo

Alto

Networks

Inc

(d)

30,049‌

4,767‌

Pinterest

Inc

(d)

5,849‌

154‌

Roku

Inc

(d)

1,612‌

93‌

Spotify

Technology

SA

(d)

6,663‌

751‌

TripAdvisor

Inc

(d)

419‌

10‌

VeriSign

Inc

(d)

478‌

104‌

Wayfair

Inc

(d),(e)

2,356‌

143‌

Wix.com

Ltd

(d)

2,049‌

178‌

Zillow

Group

Inc

-

A

Shares

(d)

177‌

8‌

Zillow

Group

Inc

-

C

Shares

(d)

465‌

21‌

$

27,455‌

Leisure

Products

&

Services

-

0

.76

%

Brunswick

Corp/DE

613‌

52‌

Norwegian

Cruise

Line

Holdings

Ltd

(d)

1,470‌

22‌

Planet

Fitness

Inc

(d)

105,716‌

8,949‌

Polaris

Inc

1,949‌

224‌

YETI

Holdings

Inc

(d)

4,105‌

184‌

$

9,431‌

Lodging

-

0

.98

%

Choice

Hotels

International

Inc

1,538‌

189‌

Hilton

Worldwide

Holdings

Inc

9,207‌

1,336‌

Hyatt

Hotels

Corp

(d)

90,488‌

9,874‌

Las

Vegas

Sands

Corp

(d)

5,872‌

346‌

Travel

+

Leisure

Co

2,742‌

116‌

Wyndham

Hotels

&

Resorts

Inc

2,878‌

223‌

Wynn

Resorts

Ltd

(d)

625‌

65‌

$

12,149‌

Machinery

-

Construction

&

Mining

-

0

.01

%

BWX

Technologies

Inc

1,694‌

103‌

Vertiv

Holdings

Co

2,279‌

33‌

$

136‌

Machinery

-

Diversified

-

4

.29

%

AGCO

Corp

389‌

54‌

Chart

Industries

Inc

(d)

40,883‌

5,478‌

Cognex

Corp

101,484‌

5,555‌

Graco

Inc

130,273‌

8,900‌

IDEX

Corp

50,436‌

12,088‌

Ingersoll

Rand

Inc

191,830‌

10,743‌

Middleby

Corp/The

(d)

175‌

27‌

Nordson

Corp

644‌

157‌

Otis

Worldwide

Corp

2,432‌

200‌

Rockwell

Automation

Inc

3,706‌

1,045‌

Toro

Co/The

4,985‌

556‌

Westinghouse

Air

Brake

Technologies

Corp

76,561‌

7,948‌

Xylem

Inc/NY

1,193‌

124‌

$

52,875‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Media

-

0

.23

%

Cable

One

Inc

172‌

$

136‌

FactSet

Research

Systems

Inc

1,813‌

767‌

Liberty

Broadband

Corp

-

A

Shares

(d)

406‌

36‌

Liberty

Broadband

Corp

-

C

Shares

(d)

2,650‌

238‌

Liberty

Media

Corp-Liberty

Formula

One

-

A

Shares

(d)

120‌

8‌

Liberty

Media

Corp-Liberty

Formula

One

-

C

Shares

(d)

1,068‌

76‌

Liberty

Media

Corp-Liberty

SiriusXM

-

A

Shares

992‌

40‌

Liberty

Media

Corp-Liberty

SiriusXM

-

C

Shares

(d)

2,047‌

82‌

Nexstar

Media

Group

Inc

161‌

33‌

Warner

Bros

Discovery

Inc

(d)

82,906‌

1,229‌

World

Wrestling

Entertainment

Inc

2,048‌

173‌

$

2,818‌

Metal

Fabrication

&

Hardware

-

1

.57

%

Advanced

Drainage

Systems

Inc

90,512‌

9,127‌

RBC

Bearings

Inc

(d)

41,806‌

10,199‌

Valmont

Industries

Inc

138‌

46‌

$

19,372‌

Mining

-

0

.01

%

MP

Materials

Corp

(d)

4,318‌

140‌

Royal

Gold

Inc

203‌

26‌

$

166‌

Miscellaneous

Manufacturers

-

0

.22

%

A

O

Smith

Corp

1,453‌

98‌

Axon

Enterprise

Inc

(d)

2,487‌

486‌

Carlisle

Cos

Inc

2,071‌

520‌

Donaldson

Co

Inc

985‌

61‌

Parker-Hannifin

Corp

1,382‌

451‌

Trane

Technologies

PLC

6,382‌

1,143‌

$

2,759‌

Office

&

Business

Equipment

-

0

.03

%

Zebra

Technologies

Corp

(d)

1,007‌

318‌

Oil

&

Gas

-

1

.49

%

Antero

Resources

Corp

(d)

154,030‌

4,443‌

Coterra

Energy

Inc

6,090‌

152‌

Devon

Energy

Corp

15,205‌

962‌

Diamondback

Energy

Inc

67,562‌

9,872‌

Hess

Corp

10,537‌

1,582‌

Ovintiv

Inc

8,471‌

417‌

PDC

Energy

Inc

2,249‌

152‌

Range

Resources

Corp

7,434‌

186‌

Southwestern

Energy

Co

(d)

3,744‌

21‌

Texas

Pacific

Land

Corp

274‌

547‌

$

18,334‌

Oil

&

Gas

Services

-

1

.63

%

Baker

Hughes

Co

390,905‌

12,407‌

Halliburton

Co

186,047‌

7,669‌

$

20,076‌

Packaging

&

Containers

-

0

.13

%

Ardagh

Metal

Packaging

SA

2,469‌

14‌

Ball

Corp

5,842‌

340‌

Berry

Global

Group

Inc

2,878‌

178‌

Crown

Holdings

Inc

4,846‌

427‌

Graphic

Packaging

Holding

Co

11,221‌

270‌

Sealed

Air

Corp

6,936‌

380‌

$

1,609‌

Pharmaceuticals

-

2

.52

%

AmerisourceBergen

Corp

7,415‌

1,253‌

Dexcom

Inc

(d)

189,145‌

20,256‌

McKesson

Corp

7,264‌

2,751‌

Neurocrine

Biosciences

Inc

(d)

21,611‌

2,397‌

Zoetis

Inc

26,662‌

4,412‌

$

31,069‌

Schedule

of

Investments

MidCap

Growth

Fund

III

January

31,

2023

(unaudited)

See

accompanying

notes.

142

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Pipelines

-

0

.17

%

Cheniere

Energy

Inc

6,840‌

$

1,045‌

New

Fortress

Energy

Inc

2,630‌

102‌

ONEOK

Inc

2,390‌

164‌

Targa

Resources

Corp

10,797‌

810‌

$

2,121‌

Private

Equity

-

0

.05

%

Ares

Management

Corp

7,328‌

608‌

Real

Estate

-

0

.05

%

CBRE

Group

Inc

(d)

7,352‌

629‌

REITs

-

1

.07

%

Apartment

Income

REIT

Corp

594‌

23‌

Camden

Property

Trust

413‌

51‌

Equity

LifeStyle

Properties

Inc

5,181‌

372‌

Extra

Space

Storage

Inc

750‌

118‌

Iron

Mountain

Inc

10,334‌

564‌

Lamar

Advertising

Co

3,621‌

386‌

SBA

Communications

Corp

36,135‌

10,751‌

Simon

Property

Group

Inc

7,561‌

971‌

$

13,236‌

Retail

-

9

.24

%

Advance

Auto

Parts

Inc

229‌

35‌

AutoZone

Inc

(d)

2,962‌

7,224‌

Best

Buy

Co

Inc

2,994‌

266‌

BJ's

Wholesale

Club

Holdings

Inc

(d)

4,023‌

291‌

Burlington

Stores

Inc

(d)

2,946‌

677‌

CarMax

Inc

(d)

884‌

62‌

Carvana

Co

(d),(e)

4,937‌

50‌

Casey's

General

Stores

Inc

10,930‌

2,578‌

Chipotle

Mexican

Grill

Inc

(d)

12,166‌

20,030‌

Darden

Restaurants

Inc

4,269‌

632‌

Dollar

Tree

Inc

(d)

3,135‌

471‌

Domino's

Pizza

Inc

1,232‌

435‌

Five

Below

Inc

(d)

55,774‌

10,995‌

Floor

&

Decor

Holdings

Inc

(d)

113,365‌

10,290‌

Freshpet

Inc

(d)

42,811‌

2,711‌

Genuine

Parts

Co

534‌

90‌

Leslie's

Inc

(d)

6,705‌

104‌

Lululemon

Athletica

Inc

(d)

37,365‌

11,467‌

Nordstrom

Inc

(e)

4,550‌

89‌

Ollie's

Bargain

Outlet

Holdings

Inc

(d)

162‌

9‌

O'Reilly

Automotive

Inc

(d)

14,658‌

11,614‌

RH

(d)

341‌

106‌

Ross

Stores

Inc

43,799‌

5,177‌

Tractor

Supply

Co

50,863‌

11,596‌

Ulta

Beauty

Inc

(d)

15,964‌

8,205‌

Victoria's

Secret

&

Co

(d)

2,813‌

118‌

Wendy's

Co/The

8,117‌

181‌

Williams-Sonoma

Inc

61,492‌

8,298‌

Yum!

Brands

Inc

1,551‌

202‌

$

114,003‌

Semiconductors

-

4

.27

%

Allegro

MicroSystems

Inc

(d)

3,155‌

121‌

Entegris

Inc

91,333‌

7,371‌

GLOBALFOUNDRIES

Inc

(d),(e)

729‌

43‌

Lattice

Semiconductor

Corp

(d)

111,598‌

8,458‌

Marvell

Technology

Inc

170,293‌

7,348‌

Microchip

Technology

Inc

21,729‌

1,687‌

Monolithic

Power

Systems

Inc

45,788‌

19,531‌

ON

Semiconductor

Corp

(d)

12,941‌

951‌

Teradyne

Inc

6,787‌

690‌

Wolfspeed

Inc

(d)

83,397‌

6,422‌

$

52,622‌

Shipbuilding

-

0

.01

%

Huntington

Ingalls

Industries

Inc

411‌

91‌

Software

-

16

.70

%

Alteryx

Inc

(d)

2,869‌

159‌

ANSYS

Inc

(d)

35,354‌

9,417‌

AppLovin

Corp

(d)

10,412‌

132‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Software

(continued)

Aspen

Technology

Inc

(d)

1,283‌

$

255‌

Bentley

Systems

Inc

8,024‌

313‌

Bill.com

Holdings

Inc

(d)

51,475‌

5,952‌

Black

Knight

Inc

(d)

683‌

41‌

Broadridge

Financial

Solutions

Inc

80,926‌

12,168‌

Cadence

Design

Systems

Inc

(d)

84,705‌

15,487‌

CCC

Intelligent

Solutions

Holdings

Inc

(d)

3,118‌

29‌

Ceridian

HCM

Holding

Inc

(d)

1,237‌

89‌

Cloudflare

Inc

(d)

13,519‌

715‌

Confluent

Inc

(d)

5,909‌

136‌

Coupa

Software

Inc

(d)

1,990‌

159‌

Datadog

Inc

(d)

48,642‌

3,639‌

Definitive

Healthcare

Corp

(d)

846‌

10‌

DocuSign

Inc

(d)

9,441‌

572‌

DoubleVerify

Holdings

Inc

(d)

3,035‌

83‌

Doximity

Inc

(d)

228,044‌

8,043‌

Dropbox

Inc

-

A

Shares

(d)

11,962‌

278‌

Dynatrace

Inc

(d)

9,466‌

364‌

Elastic

NV

(d)

3,683‌

217‌

Electronic

Arts

Inc

818‌

105‌

Fair

Isaac

Corp

(d)

8,438‌

5,619‌

Five9

Inc

(d)

44,067‌

3,472‌

HubSpot

Inc

(d)

2,212‌

768‌

Informatica

Inc

(d)

317‌

6‌

Jack

Henry

&

Associates

Inc

56,827‌

10,234‌

Jamf

Holding

Corp

(d)

2,661‌

53‌

Manhattan

Associates

Inc

(d)

1,842‌

240‌

MongoDB

Inc

(d)

3,168‌

679‌

MSCI

Inc

43,993‌

23,385‌

nCino

Inc

(d)

656‌

19‌

New

Relic

Inc

(d)

2,545‌

155‌

Nutanix

Inc

(d)

5,721‌

159‌

Palantir

Technologies

Inc

(d)

88,108‌

685‌

Paychex

Inc

15,418‌

1,786‌

Paycom

Software

Inc

(d)

56,354‌

18,255‌

Pegasystems

Inc

1,966‌

76‌

Playtika

Holding

Corp

(d)

3,981‌

42‌

Procore

Technologies

Inc

(d)

2,447‌

137‌

PTC

Inc

(d)

105,931‌

14,288‌

RingCentral

Inc

(d)

4,055‌

158‌

ROBLOX

Corp

(d)

21,401‌

796‌

SentinelOne

Inc

(d)

6,427‌

97‌

Smartsheet

Inc

(d)

6,077‌

263‌

Snowflake

Inc

-

Class

A

(d)

25,313‌

3,960‌

Splunk

Inc

(d)

7,775‌

745‌

Synopsys

Inc

(d)

89,793‌

31,765‌

Take-Two

Interactive

Software

Inc

(d)

40,976‌

4,640‌

Teradata

Corp

(d)

2,639‌

92‌

Twilio

Inc

(d)

3,147‌

188‌

Tyler

Technologies

Inc

(d)

60,932‌

19,668‌

UiPath

Inc

(d)

1,630‌

25‌

Unity

Software

Inc

(d)

7,986‌

284‌

Veeva

Systems

Inc

(d)

24,313‌

4,147‌

Zoom

Video

Communications

Inc

(d)

6,059‌

454‌

ZoomInfo

Technologies

Inc

(d)

13,082‌

369‌

$

206,072‌

Telecommunications

-

0

.99

%

Arista

Networks

Inc

(d)

96,302‌

12,136‌

Corning

Inc

2,120‌

74‌

Ubiquiti

Inc

62‌

18‌

$

12,228‌

Toys,

Games

&

Hobbies

-

0

.01

%

Mattel

Inc

(d)

8,062‌

165‌

Transportation

-

1

.61

%

CH

Robinson

Worldwide

Inc

1,492‌

149‌

Expeditors

International

of

Washington

Inc

2,343‌

253‌

JB

Hunt

Transport

Services

Inc

35,437‌

6,700‌

Landstar

System

Inc

1,520‌

263‌

Old

Dominion

Freight

Line

Inc

37,419‌

12,469‌

Schedule

of

Investments

MidCap

Growth

Fund

III

January

31,

2023

(unaudited)

See

accompanying

notes.

143

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Transportation

(continued)

RXO

Inc

(d)

394‌

$

7‌

XPO

Inc

(d)

394‌

16‌

$

19,857‌

TOTAL

COMMON

STOCKS

$

1,205,128‌

Total

Investments

$

1,246,027‌

Other

Assets

and

Liabilities

-  (0.98)%

(

12,122‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,233,905‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$10,761

or

0.87%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$10,753

or

0.87%

of

net

assets.

Portfolio

Summary  (unaudited)

Sector

Percent

Technology

24

.38‌

%

Consumer,

Non-cyclical

24

.25‌

%

Consumer,

Cyclical

20

.00‌

%

Industrial

15

.77‌

%

Energy

4

.59‌

%

Financial

4

.05‌

%

Communications

3

.54‌

%

Money

Market

Funds

3

.03‌

%

Basic

Materials

1

.06‌

%

Investment

Companies

0

.28‌

%

Utilities

0

.03‌

%

Other

Assets

and

Liabilities

(

0

.98‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

81,172‌

$

46,227‌

$

34,945‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

36,946‌

48,700‌

85,646‌

—‌

$

36,946‌

$

129,872‌

$

131,873‌

$

34,945‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

142‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

159‌

—‌

—‌

—‌

$

301‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

Mid

400

Emini;

March

2023

Long

11‌

$

2,929‌

$

208‌

Total

$

208‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

MidCap

S&P

400

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

144

INVESTMENT

COMPANIES

-

1

.72

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.24

%

iShares

Core

S&P

Mid-Cap

ETF

12,500‌

$

3,304‌

Money

Market

Funds

-

1

.48

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

3,236,971‌

3,237‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(c)

16,750,203‌

16,750‌

$

19,987‌

TOTAL

INVESTMENT

COMPANIES

$

23,291‌

COMMON

STOCKS

-

98

.43

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

0

.67

%

Curtiss-Wright

Corp

22,809‌

$

3,782‌

Hexcel

Corp

50,118‌

3,537‌

Mercury

Systems

Inc

(d)

34,524‌

1,726‌

$

9,045‌

Agriculture

-

0

.47

%

Darling

Ingredients

Inc

(d)

95,431‌

6,326‌

Airlines

-

0

.11

%

JetBlue

Airways

Corp

(d)

192,848‌

1,543‌

Apparel

-

2

.36

%

Capri

Holdings

Ltd

(d)

76,689‌

5,099‌

Carter's

Inc

22,725‌

1,894‌

Columbia

Sportswear

Co

21,081‌

2,022‌

Crocs

Inc

(d)

36,765‌

4,477‌

Deckers

Outdoor

Corp

(d)

15,759‌

6,737‌

Hanesbrands

Inc

207,776‌

1,753‌

PVH

Corp

38,836‌

3,491‌

Skechers

USA

Inc

(d)

79,914‌

3,848‌

Under

Armour

Inc

-

Class

A

(d)

112,352‌

1,392‌

Under

Armour

Inc

-

Class

C

(d)

117,316‌

1,279‌

$

31,992‌

Automobile

Parts

&

Equipment

-

1

.52

%

Adient

PLC

(d)

56,455‌

2,542‌

Dana

Inc

75,968‌

1,378‌

Fox

Factory

Holding

Corp

(d)

25,167‌

2,972‌

Gentex

Corp

139,678‌

4,122‌

Goodyear

Tire

&

Rubber

Co/The

(d)

168,425‌

1,895‌

Lear

Corp

35,193‌

5,130‌

Visteon

Corp

(d)

16,757‌

2,620‌

$

20,659‌

Banks

-

6

.69

%

Associated

Banc-Corp

89,529‌

2,006‌

Bank

of

Hawaii

Corp

23,825‌

1,822‌

Bank

OZK

65,912‌

3,010‌

Cadence

Bank

108,634‌

2,779‌

Cathay

General

Bancorp

44,308‌

1,948‌

Commerce

Bancshares

Inc/MO

67,904‌

4,520‌

Cullen/Frost

Bankers

Inc

38,285‌

4,988‌

East

West

Bancorp

Inc

83,924‌

6,590‌

First

Financial

Bankshares

Inc

77,290‌

2,753‌

First

Horizon

Corp

319,517‌

7,902‌

FNB

Corp/PA

208,869‌

2,981‌

Fulton

Financial

Corp

99,731‌

1,669‌

Glacier

Bancorp

Inc

65,954‌

3,007‌

Hancock

Whitney

Corp

51,024‌

2,627‌

Home

BancShares

Inc/AR

112,949‌

2,696‌

International

Bancshares

Corp

31,437‌

1,473‌

Old

National

Bancorp/IN

174,397‌

3,052‌

PacWest

Bancorp

70,147‌

1,940‌

Pinnacle

Financial

Partners

Inc

45,524‌

3,584‌

Prosperity

Bancshares

Inc

54,368‌

4,124‌

Synovus

Financial

Corp

86,610‌

3,633‌

Texas

Capital

Bancshares

Inc

(d)

29,711‌

1,963‌

UMB

Financial

Corp

25,890‌

2,335‌

Umpqua

Holdings

Corp

129,241‌

2,352‌

United

Bankshares

Inc/WV

80,180‌

3,223‌

Valley

National

Bancorp

250,248‌

2,973‌

Webster

Financial

Corp

103,613‌

5,455‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

(continued)

Wintrust

Financial

Corp

36,181‌

$

3,310‌

$

90,715‌

Beverages

-

0

.44

%

Boston

Beer

Co

Inc/The

(d)

5,613‌

2,181‌

Celsius

Holdings

Inc

(d)

24,055‌

2,413‌

Coca-Cola

Consolidated

Inc

2,740‌

1,389‌

$

5,983‌

Biotechnology

-

1

.25

%

Arrowhead

Pharmaceuticals

Inc

(d)

63,026‌

2,205‌

Exelixis

Inc

(d)

192,064‌

3,384‌

Halozyme

Therapeutics

Inc

(d)

80,512‌

4,168‌

United

Therapeutics

Corp

(d)

27,138‌

7,142‌

$

16,899‌

Building

Materials

-

2

.83

%

Builders

FirstSource

Inc

(d)

87,635‌

6,985‌

Eagle

Materials

Inc

21,940‌

3,205‌

Fortune

Brands

Innovations

Inc

76,360‌

4,926‌

Lennox

International

Inc

19,202‌

5,004‌

Louisiana-Pacific

Corp

42,691‌

2,907‌

MDU

Resources

Group

Inc

121,082‌

3,743‌

Owens

Corning

55,649‌

5,378‌

Simpson

Manufacturing

Co

Inc

25,366‌

2,717‌

Trex

Co

Inc

(d)

65,341‌

3,445‌

$

38,310‌

Chemicals

-

2

.53

%

Ashland

Inc

29,657‌

3,241‌

Avient

Corp

50,902‌

2,063‌

Cabot

Corp

33,492‌

2,523‌

Chemours

Co/The

89,863‌

3,270‌

Ingevity

Corp

(d)

20,919‌

1,725‌

NewMarket

Corp

4,056‌

1,397‌

Olin

Corp

75,844‌

4,899‌

RPM

International

Inc

76,870‌

6,911‌

Sensient

Technologies

Corp

25,030‌

1,894‌

Valvoline

Inc

105,403‌

3,864‌

Westlake

Corp

20,503‌

2,517‌

$

34,304‌

Commercial

Services

-

3

.94

%

ASGN

Inc

(d)

29,712‌

2,702‌

Avis

Budget

Group

Inc

(d)

14,815‌

2,964‌

Brink's

Co/The

27,659‌

1,814‌

Euronet

Worldwide

Inc

(d)

28,053‌

3,161‌

FTI

Consulting

Inc

(d)

20,496‌

3,270‌

Graham

Holdings

Co

2,286‌

1,493‌

Grand

Canyon

Education

Inc

(d)

18,264‌

2,129‌

GXO

Logistics

Inc

(d)

70,641‌

3,697‌

H&R

Block

Inc

92,573‌

3,608‌

HealthEquity

Inc

(d)

50,332‌

3,063‌

Insperity

Inc

21,232‌

2,347‌

John

Wiley

&

Sons

Inc

25,567‌

1,171‌

ManpowerGroup

Inc

30,105‌

2,624‌

Paylocity

Holding

Corp

(d)

24,531‌

5,110‌

Progyny

Inc

(d)

44,797‌

1,541‌

R1

RCM

Inc

(d)

81,841‌

1,171‌

Service

Corp

International/US

91,583‌

6,791‌

WEX

Inc

(d)

25,957‌

4,801‌

$

53,457‌

Computers

-

2

.46

%

CACI

International

Inc

(d)

13,990‌

4,310‌

ExlService

Holdings

Inc

(d)

19,688‌

3,359‌

Genpact

Ltd

100,388‌

4,746‌

KBR

Inc

81,693‌

4,185‌

Kyndryl

Holdings

Inc

(d)

121,534‌

1,627‌

Lumentum

Holdings

Inc

(d)

40,610‌

2,444‌

Maximus

Inc

36,054‌

2,699‌

NCR

Corp

(d)

81,812‌

2,243‌

Qualys

Inc

(d)

20,585‌

2,375‌

Science

Applications

International

Corp

32,827‌

3,407‌

Schedule

of

Investments

MidCap

S&P

400

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

145

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Computers

(continued)

Super

Micro

Computer

Inc

(d)

27,417‌

$

1,983‌

$

33,378‌

Consumer

Products

-

0

.12

%

Helen

of

Troy

Ltd

(d)

14,284‌

1,616‌

Cosmetics

&

Personal

Care

-

0

.16

%

Coty

Inc

(d)

217,661‌

2,168‌

Distribution

&

Wholesale

-

0

.91

%

IAA

Inc

(d)

79,648‌

3,324‌

Univar

Solutions

Inc

(d)

97,157‌

3,350‌

Watsco

Inc

19,805‌

5,691‌

$

12,365‌

Diversified

Financial

Services

-

2

.58

%

Affiliated

Managers

Group

Inc

22,430‌

3,875‌

Evercore

Inc

-

Class

A

21,277‌

2,762‌

Federated

Hermes

Inc

50,336‌

1,978‌

Interactive

Brokers

Group

Inc

-

A

Shares

61,253‌

4,897‌

Janus

Henderson

Group

PLC

78,910‌

2,045‌

Jefferies

Financial

Group

Inc

109,081‌

4,285‌

Navient

Corp

62,986‌

1,195‌

SEI

Investments

Co

61,013‌

3,809‌

SLM

Corp

148,976‌

2,617‌

Stifel

Financial

Corp

63,283‌

4,266‌

Western

Union

Co/The

229,940‌

3,258‌

$

34,987‌

Electric

-

1

.86

%

ALLETE

Inc

34,036‌

2,105‌

Black

Hills

Corp

38,749‌

2,805‌

Hawaiian

Electric

Industries

Inc

65,182‌

2,755‌

IDACORP

Inc

30,106‌

3,186‌

NorthWestern

Corp

34,403‌

1,954‌

OGE

Energy

Corp

119,207‌

4,687‌

Ormat

Technologies

Inc

29,034‌

2,687‌

PNM

Resources

Inc

51,109‌

2,529‌

Portland

General

Electric

Co

53,156‌

2,529‌

$

25,237‌

Electrical

Components

&

Equipment

-

1

.46

%

Acuity

Brands

Inc

19,149‌

3,610‌

Belden

Inc

25,490‌

2,067‌

Energizer

Holdings

Inc

39,457‌

1,464‌

EnerSys

24,311‌

2,018‌

Littelfuse

Inc

14,740‌

3,784‌

Novanta

Inc

(d)

21,251‌

3,431‌

Universal

Display

Corp

25,876‌

3,429‌

$

19,803‌

Electronics

-

3

.19

%

Arrow

Electronics

Inc

(d)

36,626‌

4,303‌

Avnet

Inc

54,494‌

2,500‌

Coherent

Corp

(d)

82,580‌

3,584‌

Hubbell

Inc

31,978‌

7,320‌

Jabil

Inc

80,170‌

6,304‌

National

Instruments

Corp

77,747‌

4,198‌

nVent

Electric

PLC

99,191‌

3,943‌

TD

SYNNEX

Corp

25,033‌

2,557‌

Vicor

Corp

(d)

13,272‌

922‌

Vishay

Intertechnology

Inc

77,151‌

1,766‌

Vontier

Corp

94,074‌

2,167‌

Woodward

Inc

35,823‌

3,663‌

$

43,227‌

Energy

-

Alternate

Sources

-

0

.31

%

SunPower

Corp

(d)

50,820‌

886‌

Sunrun

Inc

(d)

126,889‌

3,334‌

$

4,220‌

Engineering

&

Construction

-

1

.73

%

AECOM

83,152‌

7,257‌

Dycom

Industries

Inc

(d)

17,540‌

1,673‌

EMCOR

Group

Inc

28,377‌

4,207‌

Fluor

Corp

(d)

84,604‌

3,109‌

MasTec

Inc

(d)

35,108‌

3,448‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Engineering

&

Construction

(continued)

TopBuild

Corp

(d)

19,038‌

$

3,809‌

$

23,503‌

Entertainment

-

1

.14

%

Churchill

Downs

Inc

19,599‌

4,862‌

Light

&

Wonder

Inc

(d)

55,778‌

3,640‌

Marriott

Vacations

Worldwide

Corp

22,819‌

3,652‌

Penn

Entertainment

Inc

(d)

92,364‌

3,274‌

$

15,428‌

Environmental

Control

-

0

.87

%

Clean

Harbors

Inc

(d)

29,943‌

3,901‌

Stericycle

Inc

(d)

54,889‌

2,954‌

Tetra

Tech

Inc

31,546‌

4,906‌

$

11,761‌

Food

-

1

.66

%

Flowers

Foods

Inc

114,401‌

3,168‌

Grocery

Outlet

Holding

Corp

(d)

52,710‌

1,602‌

Ingredion

Inc

39,033‌

4,013‌

Lancaster

Colony

Corp

11,812‌

2,267‌

Performance

Food

Group

Co

(d)

92,693‌

5,684‌

Pilgrim's

Pride

Corp

(d)

26,754‌

649‌

Post

Holdings

Inc

(d)

32,379‌

3,074‌

Sprouts

Farmers

Market

Inc

(d)

63,030‌

2,014‌

$

22,471‌

Gas

-

1

.35

%

National

Fuel

Gas

Co

54,469‌

3,163‌

New

Jersey

Resources

Corp

57,297‌

2,860‌

ONE

Gas

Inc

32,237‌

2,655‌

Southwest

Gas

Holdings

Inc

36,739‌

2,459‌

Spire

Inc

31,256‌

2,257‌

UGI

Corp

124,672‌

4,966‌

$

18,360‌

Hand

&

Machine

Tools

-

1

.15

%

Kennametal

Inc

47,979‌

1,367‌

Lincoln

Electric

Holdings

Inc

34,379‌

5,737‌

MSA

Safety

Inc

21,939‌

2,992‌

Regal

Rexnord

Corp

39,388‌

5,483‌

$

15,579‌

Healthcare

-

Products

-

4

.39

%

Azenta

Inc

(d)

44,669‌

2,497‌

Bruker

Corp

59,555‌

4,176‌

Envista

Holdings

Corp

(d)

97,082‌

3,785‌

Globus

Medical

Inc

(d)

46,093‌

3,480‌

Haemonetics

Corp

(d)

30,135‌

2,549‌

ICU

Medical

Inc

(d)

11,994‌

2,318‌

Inari

Medical

Inc

(d)

28,752‌

1,640‌

Integra

LifeSciences

Holdings

Corp

(d)

43,264‌

2,479‌

Lantheus

Holdings

Inc

(d)

40,985‌

2,357‌

LivaNova

PLC

(d)

31,869‌

1,791‌

Masimo

Corp

(d)

28,795‌

4,898‌

Neogen

Corp

(d)

128,678‌

2,755‌

Omnicell

Inc

(d)

26,586‌

1,475‌

Patterson

Cos

Inc

51,581‌

1,557‌

Penumbra

Inc

(d)

22,614‌

5,663‌

QuidelOrtho

Corp

(d)

31,855‌

2,727‌

Repligen

Corp

(d)

30,746‌

5,697‌

Shockwave

Medical

Inc

(d)

21,520‌

4,044‌

STAAR

Surgical

Co

(d)

28,703‌

2,025‌

Tandem

Diabetes

Care

Inc

(d)

38,285‌

1,560‌

$

59,473‌

Healthcare

-

Services

-

2

.04

%

Acadia

Healthcare

Co

Inc

(d)

54,170‌

4,551‌

Amedisys

Inc

(d)

19,346‌

1,870‌

Chemed

Corp

8,854‌

4,472‌

Encompass

Health

Corp

59,417‌

3,711‌

LHC

Group

Inc

(d)

18,475‌

2,930‌

Medpace

Holdings

Inc

(d)

14,999‌

3,316‌

Sotera

Health

Co

(d)

58,793‌

1,014‌

Syneos

Health

Inc

(d)

61,272‌

2,201‌

Schedule

of

Investments

MidCap

S&P

400

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

146

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Services

(continued)

Tenet

Healthcare

Corp

(d)

64,380‌

$

3,531‌

$

27,596‌

Home

Builders

-

0

.81

%

KB

Home

49,458‌

1,902‌

Taylor

Morrison

Home

Corp

(d)

64,515‌

2,310‌

Thor

Industries

Inc

31,966‌

3,047‌

Toll

Brothers

Inc

62,759‌

3,733‌

$

10,992‌

Home

Furnishings

-

0

.52

%

Leggett

&

Platt

Inc

78,941‌

2,886‌

Tempur

Sealy

International

Inc

101,811‌

4,149‌

$

7,035‌

Housewares

-

0

.13

%

Scotts

Miracle-Gro

Co/The

24,083‌

1,739‌

Insurance

-

4

.59

%

American

Financial

Group

Inc/OH

41,572‌

5,928‌

Brighthouse

Financial

Inc

(d)

41,164‌

2,316‌

CNO

Financial

Group

Inc

68,119‌

1,755‌

Essent

Group

Ltd

64,132‌

2,824‌

First

American

Financial

Corp

61,652‌

3,814‌

Hanover

Insurance

Group

Inc/The

21,174‌

2,850‌

Kemper

Corp

38,039‌

2,234‌

Kinsale

Capital

Group

Inc

12,831‌

3,573‌

MGIC

Investment

Corp

176,861‌

2,497‌

Old

Republic

International

Corp

168,511‌

4,447‌

Primerica

Inc

21,971‌

3,554‌

Reinsurance

Group

of

America

Inc

39,796‌

6,040‌

RenaissanceRe

Holdings

Ltd

26,021‌

5,092‌

RLI

Corp

24,047‌

3,185‌

Selective

Insurance

Group

Inc

35,889‌

3,409‌

Unum

Group

111,349‌

4,680‌

Voya

Financial

Inc

57,862‌

4,037‌

$

62,235‌

Internet

-

0

.29

%

TripAdvisor

Inc

(d)

62,392‌

1,454‌

Ziff

Davis

Inc

(d)

28,099‌

2,514‌

$

3,968‌

Iron

&

Steel

-

1

.64

%

Cleveland-Cliffs

Inc

(d)

306,830‌

6,551‌

Commercial

Metals

Co

69,872‌

3,792‌

Reliance

Steel

&

Aluminum

Co

34,948‌

7,949‌

United

States

Steel

Corp

139,494‌

3,974‌

$

22,266‌

Leisure

Products

&

Services

-

1

.13

%

Brunswick

Corp/DE

43,175‌

3,641‌

Harley-Davidson

Inc

79,209‌

3,646‌

Polaris

Inc

32,442‌

3,726‌

Topgolf

Callaway

Brands

Corp

(d)

82,548‌

2,021‌

YETI

Holdings

Inc

(d)

51,355‌

2,299‌

$

15,333‌

Lodging

-

0

.82

%

Boyd

Gaming

Corp

47,234‌

2,943‌

Choice

Hotels

International

Inc

16,503‌

2,028‌

Travel

+

Leisure

Co

48,399‌

2,051‌

Wyndham

Hotels

&

Resorts

Inc

52,593‌

4,076‌

$

11,098‌

Machinery

-

Construction

&

Mining

-

0

.44

%

Oshkosh

Corp

38,937‌

3,924‌

Terex

Corp

40,191‌

2,049‌

$

5,973‌

Machinery

-

Diversified

-

3

.32

%

AGCO

Corp

36,867‌

5,092‌

Chart

Industries

Inc

(d)

24,879‌

3,333‌

Cognex

Corp

102,968‌

5,637‌

Crane

Holdings

Co

28,415‌

3,294‌

Enovis

Corp

(d)

28,372‌

1,786‌

Esab

Corp

30,763‌

1,778‌

Flowserve

Corp

77,821‌

2,679‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Machinery

-

Diversified

(continued)

Graco

Inc

100,348‌

$

6,856‌

Middleby

Corp/The

(d)

32,084‌

4,987‌

Toro

Co/The

62,046‌

6,919‌

Watts

Water

Technologies

Inc

16,246‌

2,657‌

$

45,018‌

Media

-

1

.11

%

Cable

One

Inc

2,871‌

2,268‌

New

York

Times

Co/The

98,030‌

3,415‌

Nexstar

Media

Group

Inc

22,453‌

4,598‌

TEGNA

Inc

132,848‌

2,647‌

World

Wrestling

Entertainment

Inc

25,782‌

2,182‌

$

15,110‌

Metal

Fabrication

&

Hardware

-

0

.62

%

Timken

Co/The

39,418‌

3,246‌

Valmont

Industries

Inc

12,702‌

4,188‌

Worthington

Industries

Inc

18,055‌

1,027‌

$

8,461‌

Mining

-

0

.90

%

Alcoa

Corp

105,356‌

5,504‌

MP

Materials

Corp

(d)

54,972‌

1,787‌

Royal

Gold

Inc

39,086‌

4,965‌

$

12,256‌

Miscellaneous

Manufacturers

-

1

.82

%

Axon

Enterprise

Inc

(d)

40,255‌

7,867‌

Carlisle

Cos

Inc

30,793‌

7,725‌

Donaldson

Co

Inc

72,919‌

4,547‌

ITT

Inc

49,242‌

4,510‌

$

24,649‌

Office

&

Business

Equipment

-

0

.08

%

Xerox

Holdings

Corp

66,709‌

1,093‌

Oil

&

Gas

-

2

.44

%

Antero

Resources

Corp

(d)

164,416‌

4,742‌

CNX

Resources

Corp

(d)

107,464‌

1,798‌

HF

Sinclair

Corp

80,081‌

4,557‌

Matador

Resources

Co

66,839‌

4,422‌

Murphy

Oil

Corp

87,009‌

3,794‌

PBF

Energy

Inc

68,055‌

2,858‌

PDC

Energy

Inc

54,868‌

3,716‌

Range

Resources

Corp

143,880‌

3,600‌

Southwestern

Energy

Co

(d)

657,115‌

3,627‌

$

33,114‌

Oil

&

Gas

Services

-

0

.71

%

ChampionX

Corp

118,708‌

3,920‌

NOV

Inc

233,891‌

5,716‌

$

9,636‌

Packaging

&

Containers

-

0

.87

%

AptarGroup

Inc

38,872‌

4,495‌

Greif

Inc

-

Class

A

15,248‌

1,089‌

Silgan

Holdings

Inc

49,814‌

2,685‌

Sonoco

Products

Co

58,062‌

3,548‌

$

11,817‌

Pharmaceuticals

-

1

.49

%

BellRing

Brands

Inc

(d)

80,648‌

2,287‌

Jazz

Pharmaceuticals

PLC

(d)

37,492‌

5,873‌

Neurocrine

Biosciences

Inc

(d)

57,241‌

6,350‌

Option

Care

Health

Inc

(d)

92,063‌

2,658‌

Perrigo

Co

PLC

80,169‌

3,000‌

$

20,168‌

Pipelines

-

0

.53

%

Antero

Midstream

Corp

199,434‌

2,174‌

DT

Midstream

Inc

57,608‌

3,149‌

Equitrans

Midstream

Corp

257,694‌

1,868‌

$

7,191‌

Real

Estate

-

0

.39

%

Jones

Lang

LaSalle

Inc

(d)

28,263‌

5,225‌

Schedule

of

Investments

MidCap

S&P

400

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

147

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

-

8

.38

%

Annaly

Capital

Management

Inc

278,585‌

$

6,538‌

Apartment

Income

REIT

Corp

89,274‌

3,416‌

Brixmor

Property

Group

Inc

178,578‌

4,202‌

Corporate

Office

Properties

Trust

66,940‌

1,879‌

Cousins

Properties

Inc

90,169‌

2,472‌

CubeSmart

133,719‌

6,123‌

Douglas

Emmett

Inc

104,671‌

1,753‌

EastGroup

Properties

Inc

25,945‌

4,365‌

EPR

Properties

44,670‌

1,898‌

First

Industrial

Realty

Trust

Inc

78,677‌

4,197‌

Healthcare

Realty

Trust

Inc

226,607‌

4,879‌

Highwoods

Properties

Inc

62,638‌

1,902‌

Independence

Realty

Trust

Inc

133,282‌

2,510‌

JBG

SMITH

Properties

58,945‌

1,187‌

Kilroy

Realty

Corp

62,633‌

2,570‌

Kite

Realty

Group

Trust

130,459‌

2,831‌

Lamar

Advertising

Co

51,959‌

5,536‌

Life

Storage

Inc

50,610‌

5,468‌

Macerich

Co/The

127,890‌

1,757‌

Medical

Properties

Trust

Inc

356,071‌

4,611‌

National

Retail

Properties

Inc

106,423‌

5,039‌

National

Storage

Affiliates

Trust

50,318‌

2,053‌

Omega

Healthcare

Investors

Inc

139,440‌

4,105‌

Park

Hotels

&

Resorts

Inc

133,879‌

1,969‌

Pebblebrook

Hotel

Trust

78,283‌

1,284‌

Physicians

Realty

Trust

135,914‌

2,156‌

PotlatchDeltic

Corp

48,097‌

2,354‌

Rayonier

Inc

87,186‌

3,173‌

Rexford

Industrial

Realty

Inc

109,258‌

6,935‌

Sabra

Health

Care

REIT

Inc

137,531‌

1,857‌

SL

Green

Realty

Corp

38,296‌

1,576‌

Spirit

Realty

Capital

Inc

83,158‌

3,649‌

STORE

Capital

Corp

158,222‌

5,096‌

Vornado

Realty

Trust

95,849‌

2,338‌

$

113,678‌

Retail

-

5

.61

%

AutoNation

Inc

(d)

20,368‌

2,581‌

BJ's

Wholesale

Club

Holdings

Inc

(d)

80,424‌

5,828‌

Casey's

General

Stores

Inc

22,182‌

5,233‌

Cracker

Barrel

Old

Country

Store

Inc

13,200‌

1,473‌

Dick's

Sporting

Goods

Inc

33,110‌

4,330‌

FirstCash

Holdings

Inc

22,341‌

2,059‌

Five

Below

Inc

(d)

33,050‌

6,515‌

Foot

Locker

Inc

47,224‌

2,055‌

GameStop

Corp

(d),(e)

150,502‌

3,292‌

Gap

Inc/The

125,605‌

1,705‌

Kohl's

Corp

69,452‌

2,248‌

Lithia

Motors

Inc

16,279‌

4,285‌

Macy's

Inc

161,357‌

3,813‌

MSC

Industrial

Direct

Co

Inc

28,116‌

2,325‌

Murphy

USA

Inc

12,378‌

3,367‌

Nordstrom

Inc

66,328‌

1,296‌

Ollie's

Bargain

Outlet

Holdings

Inc

(d)

34,659‌

1,898‌

Papa

John's

International

Inc

19,142‌

1,717‌

RH

(d)

11,444‌

3,570‌

Texas

Roadhouse

Inc

39,843‌

4,001‌

Victoria's

Secret

&

Co

(d)

48,378‌

2,039‌

Wendy's

Co/The

101,475‌

2,263‌

Williams-Sonoma

Inc

39,724‌

5,360‌

Wingstop

Inc

17,813‌

2,823‌

$

76,076‌

Savings

&

Loans

-

0

.40

%

New

York

Community

Bancorp

Inc

405,069‌

4,047‌

Washington

Federal

Inc

38,899‌

1,379‌

$

5,426‌

Semiconductors

-

2

.64

%

Allegro

MicroSystems

Inc

(d)

38,729‌

1,478‌

Amkor

Technology

Inc

59,805‌

1,750‌

Cirrus

Logic

Inc

(d)

32,787‌

2,964‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Semiconductors

(continued)

IPG

Photonics

Corp

(d)

19,144‌

$

2,146‌

Lattice

Semiconductor

Corp

(d)

81,609‌

6,185‌

MACOM

Technology

Solutions

Holdings

Inc

(d)

30,425‌

2,039‌

MKS

Instruments

Inc

34,056‌

3,484‌

Power

Integrations

Inc

34,057‌

2,932‌

Silicon

Laboratories

Inc

(d)

19,818‌

3,110‌

SiTime

Corp

(d)

9,574‌

1,103‌

Synaptics

Inc

(d)

23,740‌

2,968‌

Wolfspeed

Inc

(d)

73,960‌

5,696‌

$

35,855‌

Software

-

2

.64

%

ACI

Worldwide

Inc

(d)

66,913‌

1,869‌

Aspen

Technology

Inc

(d)

17,293‌

3,437‌

Blackbaud

Inc

(d)

26,557‌

1,652‌

CommVault

Systems

Inc

(d)

26,515‌

1,650‌

Concentrix

Corp

25,229‌

3,578‌

Dynatrace

Inc

(d)

119,978‌

4,611‌

Envestnet

Inc

(d)

32,943‌

2,141‌

Fair

Isaac

Corp

(d)

14,872‌

9,904‌

Manhattan

Associates

Inc

(d)

37,153‌

4,843‌

Teradata

Corp

(d)

60,617‌

2,114‌

$

35,799‌

Telecommunications

-

1

.21

%

Calix

Inc

(d)

33,900‌

1,784‌

Ciena

Corp

(d)

88,211‌

4,589‌

Frontier

Communications

Parent

Inc

(d)

132,754‌

3,931‌

Iridium

Communications

Inc

74,814‌

4,477‌

Viasat

Inc

(d)

45,007‌

1,550‌

$

16,331‌

Toys,

Games

&

Hobbies

-

0

.32

%

Mattel

Inc

(d)

211,023‌

4,317‌

Transportation

-

1

.72

%

Kirby

Corp

(d)

35,664‌

2,524‌

Knight-Swift

Transportation

Holdings

Inc

95,684‌

5,655‌

Landstar

System

Inc

21,392‌

3,697‌

Ryder

System

Inc

29,923‌

2,825‌

Saia

Inc

(d)

15,756‌

4,298‌

Werner

Enterprises

Inc

34,998‌

1,644‌

XPO

Inc

(d)

68,572‌

2,733‌

$

23,376‌

Trucking

&

Leasing

-

0

.18

%

GATX

Corp

20,959‌

2,399‌

Water

-

0

.49

%

Essential

Utilities

Inc

142,121‌

6,641‌

TOTAL

COMMON

STOCKS

$

1,334,680‌

Total

Investments

$

1,357,971‌

Other

Assets

and

Liabilities

-  (0.15)%

(

1,993‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,355,978‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$3,237

or

0.24%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$3,259

or

0.24%

of

net

assets.

Schedule

of

Investments

MidCap

S&P

400

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

148

Portfolio

Summary  (unaudited)

Sector

Percent

Financial

23

.03‌

%

Industrial

20

.87‌

%

Consumer,

Non-cyclical

15

.96‌

%

Consumer,

Cyclical

15

.38‌

%

Technology

7

.82‌

%

Basic

Materials

5

.07‌

%

Energy

3

.99‌

%

Utilities

3

.70‌

%

Communications

2

.61‌

%

Money

Market

Funds

1

.48‌

%

Investment

Companies

0

.24‌

%

Other

Assets

and

Liabilities

(

0

.15‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

74,250‌

$

57,500‌

$

16,750‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

36,160‌

50,734‌

86,894‌

—‌

$

36,160‌

$

124,984‌

$

144,394‌

$

16,750‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

161‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

110‌

—‌

—‌

—‌

$

271‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

Mid

400

Emini;

March

2023

Long

67‌

$

17,841‌

$

436‌

Total

$

436‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

MidCap

Value

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

149

INVESTMENT

COMPANIES

-

2

.71

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.26

%

iShares

Russell

Mid-Cap

Value

ETF

92,100‌

$

10,486‌

Money

Market

Funds

-

2

.45

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

3,758,613‌

3,758‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(c)

93,883,962‌

93,884‌

$

97,642‌

TOTAL

INVESTMENT

COMPANIES

$

108,128‌

COMMON

STOCKS

-

97

.40

%

Shares

Held

Value

(000's)

Advertising

-

0

.06

%

Interpublic

Group

of

Cos

Inc/The

29,232‌

$

1,066‌

Omnicom

Group

Inc

15,316‌

1,317‌

$

2,383‌

Aerospace

&

Defense

-

0

.10

%

Curtiss-Wright

Corp

2,886‌

478‌

HEICO

Corp

194‌

33‌

HEICO

Corp

-

Class

A

342‌

46‌

Hexcel

Corp

6,282‌

443‌

Howmet

Aerospace

Inc

25,220‌

1,026‌

Mercury

Systems

Inc

(d)

3,713‌

186‌

Spirit

AeroSystems

Holdings

Inc

416‌

15‌

TransDigm

Group

Inc

2,375‌

1,705‌

$

3,932‌

Agriculture

-

0

.05

%

Bunge

Ltd

10,425‌

1,033‌

Darling

Ingredients

Inc

(d)

11,213‌

743‌

$

1,776‌

Airlines

-

1

.39

%

Alaska

Air

Group

Inc

(d)

778,275‌

39,956‌

American

Airlines

Group

Inc

(d)

48,653‌

785‌

Copa

Holdings

SA

(d)

126,004‌

11,603‌

JetBlue

Airways

Corp

(d)

24,073‌

193‌

Southwest

Airlines

Co

44,568‌

1,594‌

United

Airlines

Holdings

Inc

(d)

24,549‌

1,202‌

$

55,333‌

Apparel

-

0

.21

%

Capri

Holdings

Ltd

(d)

68,586‌

4,560‌

Carter's

Inc

2,817‌

235‌

Columbia

Sportswear

Co

2,702‌

259‌

Deckers

Outdoor

Corp

(d)

223‌

95‌

Hanesbrands

Inc

26,155‌

221‌

PVH

Corp

4,893‌

440‌

Ralph

Lauren

Corp

3,061‌

379‌

Skechers

USA

Inc

(d)

8,516‌

410‌

Tapestry

Inc

15,783‌

719‌

Under

Armour

Inc

-

Class

A

(d)

14,134‌

175‌

Under

Armour

Inc

-

Class

C

(d)

15,002‌

164‌

VF

Corp

26,310‌

814‌

$

8,471‌

Automobile

Manufacturers

-

0

.31

%

Cummins

Inc

34,369‌

8,577‌

Lucid

Group

Inc

(d),(e)

2,503‌

29‌

PACCAR

Inc

25,681‌

2,807‌

Rivian

Automotive

Inc

(d)

39,107‌

759‌

$

12,172‌

Automobile

Parts

&

Equipment

-

2

.61

%

Allison

Transmission

Holdings

Inc

203,168‌

9,159‌

Aptiv

PLC

(d)

373,244‌

42,210‌

BorgWarner

Inc

1,089,585‌

51,515‌

Gentex

Corp

17,610‌

520‌

Lear

Corp

4,439‌

647‌

QuantumScape

Corp

(d),(e)

19,459‌

166‌

$

104,217‌

Banks

-

5

.08

%

Bank

of

Hawaii

Corp

2,966‌

227‌

Bank

of

New

York

Mellon

Corp/The

956,286‌

48,359‌

Bank

OZK

119,852‌

5,474‌

BOK

Financial

Corp

2,206‌

222‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

(continued)

Citizens

Financial

Group

Inc

36,746‌

$

1,592‌

Comerica

Inc

9,834‌

721‌

Commerce

Bancshares

Inc/MO

8,569‌

570‌

Cullen/Frost

Bankers

Inc

108,707‌

14,163‌

East

West

Bancorp

Inc

10,645‌

836‌

Fifth

Third

Bancorp

51,274‌

1,861‌

First

Citizens

BancShares

Inc/NC

629‌

489‌

First

Hawaiian

Inc

9,576‌

263‌

First

Horizon

Corp

39,819‌

985‌

First

Republic

Bank/CA

13,689‌

1,928‌

FNB

Corp/PA

26,153‌

373‌

Huntington

Bancshares

Inc/OH

1,223,065‌

18,553‌

KeyCorp

69,936‌

1,342‌

M&T

Bank

Corp

12,957‌

2,021‌

Northern

Trust

Corp

15,473‌

1,500‌

PacWest

Bancorp

8,713‌

241‌

Pinnacle

Financial

Partners

Inc

46,372‌

3,650‌

Popular

Inc

5,372‌

369‌

Prosperity

Bancshares

Inc

548,565‌

41,614‌

Regions

Financial

Corp

70,337‌

1,656‌

Signature

Bank/New

York

NY

4,429‌

571‌

State

Street

Corp

27,615‌

2,522‌

SVB

Financial

Group

(d)

1,599‌

484‌

Synovus

Financial

Corp

10,792‌

453‌

Umpqua

Holdings

Corp

16,193‌

295‌

Webster

Financial

Corp

13,022‌

686‌

Western

Alliance

Bancorp

3,076‌

232‌

Wintrust

Financial

Corp

53,612‌

4,904‌

Zions

Bancorp

NA

819,696‌

43,575‌

$

202,731‌

Beverages

-

0

.10

%

Boston

Beer

Co

Inc/The

(d)

38‌

15‌

Brown-Forman

Corp

-

A

Shares

1,407‌

93‌

Brown-Forman

Corp

-

B

Shares

49,161‌

3,273‌

Molson

Coors

Beverage

Co

13,177‌

693‌

$

4,074‌

Biotechnology

-

1

.43

%

Biogen

Inc

(d)

10,790‌

3,139‌

BioMarin

Pharmaceutical

Inc

(d)

73,875‌

8,521‌

Bio-Rad

Laboratories

Inc

(d)

1,614‌

755‌

Certara

Inc

(d)

2,826‌

55‌

Corteva

Inc

53,847‌

3,471‌

Exelixis

Inc

(d)

622,392‌

10,966‌

Horizon

Therapeutics

Plc

(d)

1,181‌

130‌

Incyte

Corp

(d)

85,310‌

7,263‌

Ionis

Pharmaceuticals

Inc

(d)

785‌

31‌

Mirati

Therapeutics

Inc

(d)

3,368‌

180‌

Royalty

Pharma

PLC

161,007‌

6,310‌

Ultragenyx

Pharmaceutical

Inc

(d)

1,017‌

46‌

United

Therapeutics

Corp

(d)

61,167‌

16,097‌

$

56,964‌

Building

Materials

-

1

.88

%

Armstrong

World

Industries

Inc

1,463‌

113‌

AZEK

Co

Inc/The

(d)

8,340‌

201‌

Builders

FirstSource

Inc

(d)

10,960‌

874‌

Carrier

Global

Corp

534,568‌

24,339‌

Eagle

Materials

Inc

94,018‌

13,735‌

Fortune

Brands

Innovations

Inc

6,340‌

409‌

Hayward

Holdings

Inc

(d)

4,726‌

64‌

Lennox

International

Inc

2,411‌

628‌

Louisiana-Pacific

Corp

4,842‌

330‌

Martin

Marietta

Materials

Inc

4,275‌

1,537‌

Masco

Corp

16,077‌

855‌

Masterbrand

Inc

(d)

5,807‌

53‌

MDU

Resources

Group

Inc

15,140‌

468‌

Mohawk

Industries

Inc

(d)

3,944‌

474‌

Owens

Corning

312,032‌

30,158‌

Vulcan

Materials

Co

5,107‌

936‌

$

75,174‌

Schedule

of

Investments

MidCap

Value

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

150

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Chemicals

-

2

.11

%

Albemarle

Corp

4,279‌

$

1,204‌

Ashland

Inc

38,132‌

4,167‌

Axalta

Coating

Systems

Ltd

(d)

12,528‌

377‌

Celanese

Corp

8,156‌

1,005‌

Chemours

Co/The

4,489‌

163‌

DuPont

de

Nemours

Inc

37,744‌

2,791‌

Eastman

Chemical

Co

9,014‌

795‌

Element

Solutions

Inc

16,989‌

348‌

FMC

Corp

6,242‌

831‌

Huntsman

Corp

13,737‌

435‌

International

Flavors

&

Fragrances

Inc

19,185‌

2,158‌

LyondellBasell

Industries

NV

19,345‌

1,870‌

Mosaic

Co/The

22,472‌

1,113‌

NewMarket

Corp

447‌

154‌

Olin

Corp

9,513‌

614‌

PPG

Industries

Inc

8,323‌

1,085‌

RPM

International

Inc

279,819‌

25,159‌

Westlake

Corp

326,476‌

40,075‌

$

84,344‌

Commercial

Services

-

2

.82

%

ADT

Inc

15,684‌

138‌

Affirm

Holdings

Inc

(d),(e)

16,445‌

266‌

Aramark

17,448‌

777‌

Avis

Budget

Group

Inc

(d)

1,931‌

386‌

Bright

Horizons

Family

Solutions

Inc

(d)

3,096‌

238‌

Cintas

Corp

437‌

194‌

Clarivate

PLC

(d)

35,397‌

394‌

CoStar

Group

Inc

(d)

26,043‌

2,029‌

Driven

Brands

Holdings

Inc

(d)

4,420‌

129‌

Dun

&

Bradstreet

Holdings

Inc

18,846‌

276‌

Equifax

Inc

4,581‌

1,018‌

Euronet

Worldwide

Inc

(d)

884‌

100‌

FTI

Consulting

Inc

(d)

1,471‌

235‌

Global

Payments

Inc

360,223‌

40,605‌

Grand

Canyon

Education

Inc

(d)

121,411‌

14,152‌

GXO

Logistics

Inc

(d)

7,057‌

369‌

H&R

Block

Inc

366,835‌

14,299‌

Hertz

Global

Holdings

Inc

(d)

14,234‌

256‌

ManpowerGroup

Inc

333,792‌

29,093‌

Mister

Car

Wash

Inc

(d)

1,686‌

17‌

Morningstar

Inc

161‌

39‌

Quanta

Services

Inc

4,868‌

741‌

Robert

Half

International

Inc

924‌

78‌

Rollins

Inc

1,198‌

44‌

Service

Corp

International/US

11,272‌

836‌

TransUnion

3,854‌

276‌

U-Haul

Holding

Co

60,409‌

3,732‌

U-Haul

Holding

Co

(e)

618‌

41‌

United

Rentals

Inc

2,849‌

1,256‌

WEX

Inc

(d)

915‌

169‌

WillScot

Mobile

Mini

Holdings

Corp

(d)

7,177‌

348‌

$

112,531‌

Computers

-

5

.71

%

Amdocs

Ltd

58,551‌

5,383‌

CACI

International

Inc

(d)

1,743‌

537‌

Dell

Technologies

Inc

16,126‌

655‌

DXC

Technology

Co

(d)

940,242‌

27,013‌

Genpact

Ltd

930,289‌

43,984‌

Hewlett

Packard

Enterprise

Co

1,749,858‌

28,225‌

HP

Inc

41,023‌

1,195‌

KBR

Inc

3,660‌

188‌

Kyndryl

Holdings

Inc

(d)

15,389‌

206‌

Leidos

Holdings

Inc

426,255‌

42,131‌

Lumentum

Holdings

Inc

(d)

5,169‌

311‌

Maximus

Inc

582,000‌

43,563‌

NCR

Corp

(d)

9,034‌

248‌

Science

Applications

International

Corp

4,147‌

430‌

Western

Digital

Corp

(d)

771,947‌

33,927‌

$

227,996‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Consumer

Products

-

1

.03

%

Avery

Dennison

Corp

210,352‌

$

39,849‌

Church

&

Dwight

Co

Inc

10,001‌

809‌

Clorox

Co/The

1,583‌

229‌

Reynolds

Consumer

Products

Inc

4,073‌

121‌

Spectrum

Brands

Holdings

Inc

2,989‌

203‌

$

41,211‌

Cosmetics

&

Personal

Care

-

0

.01

%

Coty

Inc

(d)

26,372‌

263‌

Distribution

&

Wholesale

-

0

.38

%

Core

&

Main

Inc

(d)

155,207‌

3,425‌

IAA

Inc

(d)

1,659‌

69‌

LKQ

Corp

18,834‌

1,111‌

SiteOne

Landscape

Supply

Inc

(d)

1,313‌

199‌

Univar

Solutions

Inc

(d)

12,117‌

418‌

Watsco

Inc

33,264‌

9,559‌

WESCO

International

Inc

(d)

1,575‌

235‌

$

15,016‌

Diversified

Financial

Services

-

1

.93

%

Affiliated

Managers

Group

Inc

2,823‌

488‌

Air

Lease

Corp

7,788‌

350‌

Ally

Financial

Inc

22,481‌

730‌

Ameriprise

Financial

Inc

2,907‌

1,018‌

Apollo

Global

Management

Inc

8,676‌

614‌

Cboe

Global

Markets

Inc

59,727‌

7,340‌

Coinbase

Global

Inc

(d),(e)

12,034‌

704‌

Credit

Acceptance

Corp

(d),(e)

456‌

211‌

Discover

Financial

Services

20,540‌

2,398‌

Evercore

Inc

-

Class

A

2,734‌

355‌

Franklin

Resources

Inc

21,475‌

670‌

Interactive

Brokers

Group

Inc

-

A

Shares

207,717‌

16,605‌

Invesco

Ltd

28,103‌

520‌

Janus

Henderson

Group

PLC

10,196‌

264‌

Jefferies

Financial

Group

Inc

15,094‌

593‌

Lazard

Ltd

6,242‌

250‌

Nasdaq

Inc

25,878‌

1,558‌

OneMain

Holdings

Inc

8,707‌

376‌

Raymond

James

Financial

Inc

13,479‌

1,520‌

Rocket

Cos

Inc

(e)

3,435‌

32‌

SEI

Investments

Co

7,709‌

481‌

SLM

Corp

18,744‌

329‌

SoFi

Technologies

Inc

(d)

61,126‌

424‌

Stifel

Financial

Corp

49,415‌

3,331‌

Synchrony

Financial

33,825‌

1,242‌

T

Rowe

Price

Group

Inc

257,482‌

29,989‌

Tradeweb

Markets

Inc

58,214‌

4,340‌

Upstart

Holdings

Inc

(d),(e)

3,919‌

73‌

UWM

Holdings

Corp

660‌

3‌

Virtu

Financial

Inc

7,115‌

137‌

Western

Union

Co/The

19,150‌

271‌

$

77,216‌

Electric

-

4

.21

%

AES

Corp/The

41,170‌

1,128‌

Alliant

Energy

Corp

752,869‌

40,678‌

Ameren

Corp

19,374‌

1,683‌

Avangrid

Inc

5,314‌

224‌

Brookfield

Renewable

Corp

(e)

316,049‌

9,962‌

CenterPoint

Energy

Inc

47,420‌

1,428‌

CMS

Energy

Corp

105,511‌

6,667‌

Consolidated

Edison

Inc

75,107‌

7,158‌

Constellation

Energy

Corp

24,581‌

2,098‌

DTE

Energy

Co

14,523‌

1,690‌

Edison

International

28,300‌

1,950‌

Entergy

Corp

15,284‌

1,655‌

Evergy

Inc

16,732‌

1,048‌

Eversource

Energy

25,940‌

2,136‌

FirstEnergy

Corp

40,871‌

1,674‌

Hawaiian

Electric

Industries

Inc

151,730‌

6,414‌

IDACORP

Inc

79,692‌

8,432‌

NRG

Energy

Inc

89,762‌

3,072‌

Schedule

of

Investments

MidCap

Value

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

151

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Electric

(continued)

OGE

Energy

Corp

15,031‌

$

591‌

PG&E

Corp

(d)

124,053‌

1,972‌

Pinnacle

West

Capital

Corp

8,499‌

634‌

PPL

Corp

320,948‌

9,500‌

Public

Service

Enterprise

Group

Inc

37,479‌

2,321‌

Vistra

Corp

12,524‌

289‌

WEC

Energy

Group

Inc

92,999‌

8,741‌

Xcel

Energy

Inc

653,850‌

44,965‌

$

168,110‌

Electrical

Components

&

Equipment

-

0

.09

%

Acuity

Brands

Inc

2,423‌

457‌

AMETEK

Inc

17,346‌

2,514‌

Littelfuse

Inc

1,814‌

465‌

$

3,436‌

Electronics

-

4

.01

%

Agilent

Technologies

Inc

49,725‌

7,562‌

Allegion

plc

1,372‌

161‌

Amphenol

Corp

517,849‌

41,308‌

Arrow

Electronics

Inc

(d)

4,390‌

516‌

Avnet

Inc

389,373‌

17,865‌

Coherent

Corp

(d)

7,533‌

327‌

Flex

Ltd

(d)

1,660,000‌

38,761‌

Fortive

Corp

26,679‌

1,815‌

Garmin

Ltd

11,607‌

1,148‌

Hubbell

Inc

140,036‌

32,056‌

Jabil

Inc

191,571‌

15,063‌

Keysight

Technologies

Inc

(d)

999‌

179‌

National

Instruments

Corp

8,528‌

461‌

nVent

Electric

PLC

12,382‌

492‌

Sensata

Technologies

Holding

PLC

11,396‌

579‌

TD

SYNNEX

Corp

3,501‌

358‌

Trimble

Inc

(d)

18,551‌

1,077‌

Vontier

Corp

4,464‌

103‌

Woodward

Inc

4,413‌

451‌

$

160,282‌

Energy

-

Alternate

Sources

-

0

.15

%

First

Solar

Inc

(d)

29,044‌

5,159‌

Plug

Power

Inc

(d),(e)

19,582‌

333‌

Sunrun

Inc

(d)

15,691‌

412‌

$

5,904‌

Engineering

&

Construction

-

0

.06

%

AECOM

9,311‌

813‌

Jacobs

Solutions

Inc

9,623‌

1,189‌

MasTec

Inc

(d)

4,569‌

449‌

TopBuild

Corp

(d)

347‌

69‌

$

2,520‌

Entertainment

-

0

.91

%

AMC

Entertainment

Holdings

Inc

(e)

38,855‌

208‌

Caesars

Entertainment

Inc

(d)

4,831‌

252‌

Live

Nation

Entertainment

Inc

(d)

380,879‌

30,657‌

Madison

Square

Garden

Sports

Corp

712‌

129‌

Marriott

Vacations

Worldwide

Corp

2,824‌

452‌

Penn

Entertainment

Inc

(d)

11,641‌

413‌

Six

Flags

Entertainment

Corp

(d)

2,694‌

72‌

Vail

Resorts

Inc

15,926‌

4,178‌

$

36,361‌

Environmental

Control

-

0

.53

%

Clean

Harbors

Inc

(d)

3,823‌

498‌

Pentair

PLC

12,387‌

686‌

Republic

Services

Inc

153,533‌

19,164‌

Stericycle

Inc

(d)

6,872‌

370‌

Tetra

Tech

Inc

2,341‌

364‌

$

21,082‌

Food

-

4

.10

%

Albertsons

Cos

Inc

218,689‌

4,636‌

Campbell

Soup

Co

258,143‌

13,406‌

Conagra

Brands

Inc

142,083‌

5,284‌

Flowers

Foods

Inc

14,048‌

389‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Food

(continued)

Grocery

Outlet

Holding

Corp

(d)

6,124‌

$

186‌

Hershey

Co/The

31,645‌

7,107‌

Hormel

Foods

Corp

21,579‌

978‌

Ingredion

Inc

47,737‌

4,907‌

J

M

Smucker

Co/The

7,763‌

1,186‌

Kellogg

Co

69,195‌

4,746‌

Kroger

Co/The

283,479‌

12,652‌

McCormick

&

Co

Inc/MD

18,869‌

1,417‌

Performance

Food

Group

Co

(d)

7,913‌

485‌

Pilgrim's

Pride

Corp

(d)

1,561‌

38‌

Post

Holdings

Inc

(d)

4,102‌

389‌

Seaboard

Corp

616‌

2,415‌

Sysco

Corp

654,000‌

50,659‌

Tyson

Foods

Inc

796,633‌

52,379‌

US

Foods

Holding

Corp

(d)

15,189‌

579‌

$

163,838‌

Forest

Products

&

Paper

-

0

.19

%

International

Paper

Co

26,757‌

1,119‌

Sylvamo

Corp

132,166‌

6,282‌

$

7,401‌

Gas

-

0

.08

%

Atmos

Energy

Corp

10,390‌

1,221‌

National

Fuel

Gas

Co

6,039‌

351‌

NiSource

Inc

30,557‌

848‌

UGI

Corp

15,757‌

627‌

$

3,047‌

Hand

&

Machine

Tools

-

0

.88

%

Lincoln

Electric

Holdings

Inc

170,000‌

28,368‌

MSA

Safety

Inc

1,702‌

232‌

Regal

Rexnord

Corp

4,990‌

695‌

Snap-on

Inc

19,548‌

4,862‌

Stanley

Black

&

Decker

Inc

11,117‌

993‌

$

35,150‌

Healthcare

-

Products

-

3

.80

%

10X

Genomics

Inc

(d)

739‌

35‌

Align

Technology

Inc

(d)

1,472‌

397‌

Avantor

Inc

(d)

3,138‌

75‌

Azenta

Inc

(d)

5,552‌

310‌

Cooper

Cos

Inc/The

130,661‌

45,591‌

DENTSPLY

SIRONA

Inc

207,879‌

7,656‌

Envista

Holdings

Corp

(d)

12,200‌

476‌

Exact

Sciences

Corp

(d)

10,786‌

728‌

Globus

Medical

Inc

(d)

5,343‌

403‌

Hologic

Inc

(d)

626,522‌

50,981‌

ICU

Medical

Inc

(d)

1,236‌

239‌

Integra

LifeSciences

Holdings

Corp

(d)

5,429‌

311‌

Masimo

Corp

(d)

840‌

143‌

Natera

Inc

(d)

551‌

24‌

PerkinElmer

Inc

9,497‌

1,306‌

QIAGEN

NV

(d)

92,073‌

4,512‌

QuidelOrtho

Corp

(d)

3,680‌

315‌

Repligen

Corp

(d)

1,195‌

222‌

STERIS

PLC

7,516‌

1,552‌

Tandem

Diabetes

Care

Inc

(d)

319‌

13‌

Teleflex

Inc

3,537‌

861‌

Zimmer

Biomet

Holdings

Inc

278,795‌

35,501‌

$

151,651‌

Healthcare

-

Services

-

2

.11

%

Acadia

Healthcare

Co

Inc

(d)

6,706‌

563‌

agilon

health

Inc

(d)

966‌

21‌

Amedisys

Inc

(d)

2,398‌

232‌

Catalent

Inc

(d)

9,185‌

492‌

Charles

River

Laboratories

International

Inc

(d)

232‌

56‌

Chemed

Corp

708‌

358‌

Encompass

Health

Corp

7,342‌

458‌

Enhabit

Inc

(d)

3,363‌

52‌

Ginkgo

Bioworks

Holdings

Inc

(d),(e)

54,084‌

105‌

Laboratory

Corp

of

America

Holdings

6,678‌

1,684‌

Molina

Healthcare

Inc

(d)

100,490‌

31,335‌

Schedule

of

Investments

MidCap

Value

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

152

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Services

(continued)

Oak

Street

Health

Inc

(d)

8,733‌

$

254‌

Quest

Diagnostics

Inc

314,558‌

46,706‌

Signify

Health

Inc

(d)

5,768‌

164‌

Syneos

Health

Inc

(d)

6,338‌

228‌

Teladoc

Health

Inc

(d)

10,882‌

320‌

Tenet

Healthcare

Corp

(d)

7,969‌

437‌

Universal

Health

Services

Inc

4,681‌

694‌

$

84,159‌

Home

Builders

-

0

.41

%

DR

Horton

Inc

11,321‌

1,117‌

Lennar

Corp

-

A

Shares

18,877‌

1,933‌

Lennar

Corp

-

B

Shares

1,074‌

93‌

NVR

Inc

(d)

62‌

327‌

PulteGroup

Inc

10,405‌

592‌

Thor

Industries

Inc

3,896‌

371‌

Toll

Brothers

Inc

197,037‌

11,722‌

$

16,155‌

Home

Furnishings

-

0

.05

%

Dolby

Laboratories

Inc

4,576‌

364‌

Leggett

&

Platt

Inc

9,975‌

365‌

Tempur

Sealy

International

Inc

12,596‌

513‌

Whirlpool

Corp

4,020‌

626‌

$

1,868‌

Housewares

-

0

.65

%

Newell

Brands

Inc

1,616,192‌

25,794‌

Scotts

Miracle-Gro

Co/The

1,993‌

144‌

$

25,938‌

Insurance

-

9

.26

%

Aflac

Inc

46,419‌

3,412‌

Allstate

Corp/The

237,415‌

30,500‌

American

Financial

Group

Inc/OH

287,569‌

41,005‌

Arch

Capital

Group

Ltd

(d)

328,904‌

21,165‌

Arthur

J

Gallagher

&

Co

13,879‌

2,716‌

Assurant

Inc

41,557‌

5,510‌

Assured

Guaranty

Ltd

4,346‌

272‌

Axis

Capital

Holdings

Ltd

84,377‌

5,280‌

Brighthouse

Financial

Inc

(d)

5,175‌

291‌

Brown

&

Brown

Inc

16,441‌

963‌

Cincinnati

Financial

Corp

11,556‌

1,308‌

CNA

Financial

Corp

1,978‌

86‌

Corebridge

Financial

Inc

6,045‌

131‌

Equitable

Holdings

Inc

27,768‌

890‌

Erie

Indemnity

Co

492‌

120‌

Everest

Re

Group

Ltd

184,624‌

64,561‌

F&G

Annuities

&

Life

Inc

1,231‌

26‌

Fidelity

National

Financial

Inc

234,636‌

10,331‌

First

American

Financial

Corp

108,934‌

6,740‌

Globe

Life

Inc

6,734‌

814‌

Hanover

Insurance

Group

Inc/The

26,211‌

3,527‌

Hartford

Financial

Services

Group

Inc/The

23,922‌

1,857‌

Kemper

Corp

4,764‌

280‌

Lincoln

National

Corp

10,087‌

357‌

Loews

Corp

14,805‌

910‌

Markel

Corp

(d)

4,944‌

6,966‌

MGIC

Investment

Corp

937,357‌

13,236‌

Old

Republic

International

Corp

1,576,034‌

41,591‌

Primerica

Inc

2,770‌

448‌

Progressive

Corp/The

377,500‌

51,472‌

Prudential

Financial

Inc

27,745‌

2,912‌

Reinsurance

Group

of

America

Inc

31,186‌

4,733‌

RenaissanceRe

Holdings

Ltd

1,465‌

287‌

Unum

Group

137,645‌

5,786‌

Voya

Financial

Inc

7,297‌

509‌

W

R

Berkley

Corp

515,961‌

36,190‌

White

Mountains

Insurance

Group

Ltd

193‌

295‌

Willis

Towers

Watson

PLC

8,117‌

2,063‌

$

369,540‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Internet

-

0

.40

%

DoorDash

Inc

-

Class

A

(d)

2,158‌

$

125‌

eBay

Inc

35,592‌

1,762‌

F5

Inc

(d)

4,487‌

663‌

Gen

Digital

Inc

307,818‌

7,083‌

GoDaddy

Inc

(d)

10,155‌

834‌

IAC

Inc

(d)

5,832‌

329‌

Lyft

Inc

(d)

4,496‌

73‌

Match

Group

Inc

(d)

1,233‌

67‌

Okta

Inc

(d)

9,851‌

725‌

Opendoor

Technologies

Inc

(d)

24,481‌

54‌

Pinterest

Inc

(d)

34,579‌

909‌

Robinhood

Markets

Inc

(d)

42,145‌

439‌

Roku

Inc

(d)

6,583‌

378‌

TripAdvisor

Inc

(d)

7,037‌

164‌

VeriSign

Inc

(d)

6,248‌

1,362‌

Wayfair

Inc

(d),(e)

2,136‌

129‌

Wix.com

Ltd

(d)

901‌

78‌

Zillow

Group

Inc

-

A

Shares

(d)

4,022‌

173‌

Zillow

Group

Inc

-

C

Shares

(d)

11,171‌

494‌

$

15,841‌

Investment

Companies

-

0

.00

%

Vitesse

Energy

Inc

(d)

1,776‌

28‌

Iron

&

Steel

-

1

.12

%

Cleveland-Cliffs

Inc

(d)

38,476‌

821‌

Nucor

Corp

19,278‌

3,258‌

Reliance

Steel

&

Aluminum

Co

128,406‌

29,206‌

Steel

Dynamics

Inc

91,547‌

11,045‌

United

States

Steel

Corp

17,490‌

498‌

$

44,828‌

Leisure

Products

&

Services

-

0

.28

%

Brunswick

Corp/DE

4,502‌

380‌

Carnival

Corp

(d)

73,713‌

798‌

Harley-Davidson

Inc

175,498‌

8,078‌

Norwegian

Cruise

Line

Holdings

Ltd

(d)

29,026‌

441‌

Peloton

Interactive

Inc

(d)

23,284‌

301‌

Planet

Fitness

Inc

(d)

1,667‌

141‌

Polaris

Inc

1,099‌

126‌

Royal

Caribbean

Cruises

Ltd

(d)

16,581‌

1,077‌

$

11,342‌

Lodging

-

1

.19

%

Boyd

Gaming

Corp

5,758‌

359‌

Hilton

Worldwide

Holdings

Inc

302,832‌

43,937‌

Hyatt

Hotels

Corp

(d)

3,573‌

390‌

Las

Vegas

Sands

Corp

(d)

15,612‌

921‌

MGM

Resorts

International

24,166‌

1,001‌

Travel

+

Leisure

Co

1,675‌

71‌

Wyndham

Hotels

&

Resorts

Inc

2,038‌

158‌

Wynn

Resorts

Ltd

(d)

6,861‌

711‌

$

47,548‌

Machinery

-

Construction

&

Mining

-

0

.87

%

BWX

Technologies

Inc

4,176‌

254‌

Oshkosh

Corp

339,923‌

34,257‌

Vertiv

Holdings

Co

19,156‌

273‌

$

34,784‌

Machinery

-

Diversified

-

4

.58

%

AGCO

Corp

291,061‌

40,204‌

Cognex

Corp

824‌

45‌

Crane

Holdings

Co

3,528‌

409‌

Dover

Corp

10,558‌

1,603‌

Enovis

Corp

(d)

3,796‌

239‌

Esab

Corp

3,802‌

220‌

Flowserve

Corp

9,761‌

336‌

Gates

Industrial

Corp

PLC

(d)

8,092‌

107‌

Graco

Inc

3,952‌

270‌

IDEX

Corp

4,705‌

1,128‌

Ingersoll

Rand

Inc

30,572‌

1,712‌

Middleby

Corp/The

(d)

289,750‌

45,042‌

Nordson

Corp

3,307‌

805‌

Schedule

of

Investments

MidCap

Value

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

153

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Machinery

-

Diversified

(continued)

Otis

Worldwide

Corp

206,192‌

$

16,955‌

Rockwell

Automation

Inc

2,820‌

795‌

Toro

Co/The

345,000‌

38,474‌

Westinghouse

Air

Brake

Technologies

Corp

13,628‌

1,415‌

Xylem

Inc/NY

319,598‌

33,241‌

$

183,000‌

Media

-

0

.18

%

Altice

USA

Inc

(d)

15,173‌

74‌

Cable

One

Inc

175‌

138‌

DISH

Network

Corp

(d)

18,780‌

270‌

Fox

Corp

-

A

Shares

22,389‌

760‌

Fox

Corp

-

B

Shares

10,677‌

338‌

Liberty

Broadband

Corp

-

A

Shares

(d)

676‌

61‌

Liberty

Broadband

Corp

-

C

Shares

(d)

4,812‌

432‌

Liberty

Media

Corp-Liberty

Formula

One

-

A

Shares

(d)

1,358‌

87‌

Liberty

Media

Corp-Liberty

Formula

One

-

C

Shares

(d)

13,412‌

950‌

Liberty

Media

Corp-Liberty

SiriusXM

-

A

Shares

4,065‌

165‌

Liberty

Media

Corp-Liberty

SiriusXM

-

C

Shares

(d)

8,377‌

338‌

New

York

Times

Co/The

12,238‌

426‌

News

Corp

-

A

Shares

28,622‌

580‌

News

Corp

-

B

Shares

9,054‌

185‌

Nexstar

Media

Group

Inc

2,489‌

510‌

Paramount

Global

-

Class

A

(e)

708‌

19‌

Paramount

Global

-

Class

B

43,407‌

1,005‌

Sirius

XM

Holdings

Inc

(e)

52,653‌

305‌

Warner

Bros

Discovery

Inc

(d)

47,048‌

697‌

$

7,340‌

Metal

Fabrication

&

Hardware

-

0

.02

%

Timken

Co/The

4,613‌

380‌

Valmont

Industries

Inc

1,358‌

448‌

$

828‌

Mining

-

0

.95

%

Alcoa

Corp

13,322‌

696‌

Franco-Nevada

Corp

249,000‌

36,528‌

Royal

Gold

Inc

4,594‌

584‌

SSR

Mining

Inc

15,534‌

263‌

$

38,071‌

Miscellaneous

Manufacturers

-

2

.56

%

A

O

Smith

Corp

136,208‌

9,221‌

Axon

Enterprise

Inc

(d)

1,148‌

224‌

Carlisle

Cos

Inc

609‌

153‌

Donaldson

Co

Inc

7,693‌

480‌

ITT

Inc

6,259‌

573‌

Parker-Hannifin

Corp

117,451‌

38,289‌

Teledyne

Technologies

Inc

(d)

3,491‌

1,481‌

Textron

Inc

694,213‌

50,574‌

Trane

Technologies

PLC

7,261‌

1,300‌

$

102,295‌

Office

&

Business

Equipment

-

0

.02

%

Zebra

Technologies

Corp

(d)

2,299‌

727‌

Oil

&

Gas

-

3

.05

%

Antero

Resources

Corp

(d)

7,463‌

215‌

APA

Corp

24,137‌

1,070‌

Chesapeake

Energy

Corp

9,118‌

791‌

Coterra

Energy

Inc

1,412,033‌

35,343‌

Devon

Energy

Corp

522,046‌

33,014‌

Diamondback

Energy

Inc

5,681‌

830‌

EQT

Corp

27,733‌

906‌

Hess

Corp

4,606‌

692‌

HF

Sinclair

Corp

223,835‌

12,737‌

Marathon

Oil

Corp

47,690‌

1,310‌

Marathon

Petroleum

Corp

58,078‌

7,464‌

Ovintiv

Inc

5,408‌

266‌

PDC

Energy

Inc

75,629‌

5,122‌

Phillips

66

215,268‌

21,585‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Oil

&

Gas

(continued)

Range

Resources

Corp

6,039‌

$

151‌

Southwestern

Energy

Co

(d)

77,546‌

428‌

$

121,924‌

Oil

&

Gas

Services

-

0

.30

%

Baker

Hughes

Co

308,046‌

9,777‌

Halliburton

Co

36,990‌

1,525‌

NOV

Inc

29,453‌

720‌

$

12,022‌

Packaging

&

Containers

-

3

.17

%

Amcor

PLC

113,000‌

1,363‌

AptarGroup

Inc

323,932‌

37,459‌

Ardagh

Group

SA

(d),(f)

901‌

—‌

Ardagh

Metal

Packaging

SA

6,882‌

39‌

Ball

Corp

13,975‌

814‌

Berry

Global

Group

Inc

4,854‌

300‌

Crown

Holdings

Inc

421,007‌

37,116‌

Graphic

Packaging

Holding

Co

5,251‌

126‌

Packaging

Corp

of

America

290,881‌

41,509‌

Sealed

Air

Corp

70,310‌

3,850‌

Silgan

Holdings

Inc

54,732‌

2,950‌

Sonoco

Products

Co

7,295‌

446‌

Westrock

Co

19,074‌

748‌

$

126,720‌

Pharmaceuticals

-

0

.41

%

Cardinal

Health

Inc

19,744‌

1,525‌

Elanco

Animal

Health

Inc

(d)

33,372‌

458‌

Henry

Schein

Inc

(d)

10,178‌

877‌

Jazz

Pharmaceuticals

PLC

(d)

4,643‌

727‌

Organon

&

Co

19,125‌

576‌

Perrigo

Co

PLC

10,067‌

377‌

Premier

Inc

324,241‌

10,817‌

Viatris

Inc

91,339‌

1,111‌

$

16,468‌

Pipelines

-

0

.57

%

Antero

Midstream

Corp

25,209‌

275‌

Cheniere

Energy

Inc

7,967‌

1,217‌

DT

Midstream

Inc

297,086‌

16,239‌

ONEOK

Inc

29,677‌

2,032‌

Williams

Cos

Inc/The

91,671‌

2,956‌

$

22,719‌

Private

Equity

-

0

.07

%

Carlyle

Group

Inc/The

15,517‌

558‌

KKR

&

Co

Inc

43,046‌

2,403‌

$

2,961‌

Real

Estate

-

0

.05

%

CBRE

Group

Inc

(d)

12,164‌

1,040‌

Howard

Hughes

Corp/The

(d)

2,748‌

235‌

Jones

Lang

LaSalle

Inc

(d)

3,599‌

665‌

WeWork

Inc

(d),(e)

17,027‌

27‌

$

1,967‌

REITs

-

7

.99

%

AGNC

Investment

Corp

43,091‌

500‌

Alexandria

Real

Estate

Equities

Inc

351,197‌

56,452‌

American

Homes

4

Rent

756,186‌

25,930‌

Americold

Realty

Trust

Inc

20,228‌

635‌

Annaly

Capital

Management

Inc

35,207‌

826‌

Apartment

Income

REIT

Corp

10,370‌

397‌

AvalonBay

Communities

Inc

10,517‌

1,866‌

Boston

Properties

Inc

11,799‌

879‌

Brixmor

Property

Group

Inc

22,447‌

528‌

Camden

Property

Trust

291,151‌

35,873‌

Cousins

Properties

Inc

11,321‌

310‌

CubeSmart

16,824‌

770‌

Douglas

Emmett

Inc

12,670‌

212‌

EastGroup

Properties

Inc

3,085‌

519‌

EPR

Properties

107,486‌

4,566‌

Equity

LifeStyle

Properties

Inc

540,153‌

38,772‌

Equity

Residential

70,127‌

4,464‌

Schedule

of

Investments

MidCap

Value

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

154

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

(continued)

Essex

Property

Trust

Inc

4,897‌

$

1,107‌

Extra

Space

Storage

Inc

8,792‌

1,388‌

Federal

Realty

Investment

Trust

6,045‌

674‌

First

Industrial

Realty

Trust

Inc

9,876‌

527‌

Gaming

and

Leisure

Properties

Inc

67,819‌

3,632‌

Healthcare

Realty

Trust

Inc

294,012‌

6,330‌

Healthpeak

Properties

Inc

40,580‌

1,115‌

Highwoods

Properties

Inc

7,787‌

236‌

Host

Hotels

&

Resorts

Inc

53,279‌

1,004‌

Hudson

Pacific

Properties

Inc

10,329‌

118‌

Invitation

Homes

Inc

45,924‌

1,493‌

Iron

Mountain

Inc

5,434‌

297‌

JBG

SMITH

Properties

8,009‌

161‌

Kilroy

Realty

Corp

8,713‌

358‌

Kimco

Realty

Corp

45,448‌

1,021‌

Lamar

Advertising

Co

444,756‌

47,385‌

Life

Storage

Inc

6,336‌

685‌

Medical

Properties

Trust

Inc

44,771‌

580‌

Mid-America

Apartment

Communities

Inc

26,053‌

4,343‌

National

Retail

Properties

Inc

891,431‌

42,209‌

National

Storage

Affiliates

Trust

6,365‌

260‌

Omega

Healthcare

Investors

Inc

17,686‌

521‌

Park

Hotels

&

Resorts

Inc

16,709‌

246‌

Rayonier

Inc

10,922‌

397‌

Realty

Income

Corp

47,251‌

3,205‌

Regency

Centers

Corp

12,898‌

859‌

Rexford

Industrial

Realty

Inc

13,838‌

878‌

Rithm

Capital

Corp

32,756‌

308‌

SBA

Communications

Corp

6,203‌

1,846‌

Simon

Property

Group

Inc

12,650‌

1,625‌

SL

Green

Realty

Corp

4,800‌

198‌

Spirit

Realty

Capital

Inc

10,486‌

460‌

Starwood

Property

Trust

Inc

21,890‌

457‌

STORE

Capital

Corp

19,121‌

616‌

Sun

Communities

Inc

9,161‌

1,437‌

UDR

Inc

24,367‌

1,038‌

Ventas

Inc

148,699‌

7,704‌

VICI

Properties

Inc

72,393‌

2,474‌

Vornado

Realty

Trust

13,226‌

323‌

Welltower

Inc

35,641‌

2,674‌

Weyerhaeuser

Co

55,438‌

1,909‌

WP

Carey

Inc

15,536‌

1,329‌

$

318,926‌

Retail

-

4

.24

%

Advance

Auto

Parts

Inc

4,175‌

636‌

AutoNation

Inc

(d)

2,547‌

323‌

AutoZone

Inc

(d)

134‌

327‌

Bath

&

Body

Works

Inc

203,356‌

9,356‌

Best

Buy

Co

Inc

10,397‌

922‌

BJ's

Wholesale

Club

Holdings

Inc

(d)

58,625‌

4,249‌

Burlington

Stores

Inc

(d)

302‌

69‌

CarMax

Inc

(d)

10,519‌

741‌

Casey's

General

Stores

Inc

36,343‌

8,573‌

Darden

Restaurants

Inc

145,481‌

21,527‌

Dick's

Sporting

Goods

Inc

4,012‌

525‌

Dollar

Tree

Inc

(d)

11,041‌

1,658‌

Domino's

Pizza

Inc

34,458‌

12,164‌

Freshpet

Inc

(d)

1,458‌

92‌

GameStop

Corp

(d),(e)

20,121‌

440‌

Gap

Inc/The

14,828‌

201‌

Genuine

Parts

Co

9,607‌

1,612‌

Kohl's

Corp

8,748‌

283‌

Leslie's

Inc

(d)

1,347‌

21‌

Lithia

Motors

Inc

2,034‌

535‌

Macy's

Inc

20,198‌

477‌

MSC

Industrial

Direct

Co

Inc

39,649‌

3,279‌

Nordstrom

Inc

1,253‌

25‌

Ollie's

Bargain

Outlet

Holdings

Inc

(d)

4,442‌

243‌

O'Reilly

Automotive

Inc

(d)

2,767‌

2,193‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Retail

(continued)

Penske

Automotive

Group

Inc

1,950‌

$

249‌

Petco

Health

&

Wellness

Co

Inc

(d)

5,526‌

65‌

RH

(d)

905‌

282‌

Ross

Stores

Inc

392,802‌

46,426‌

Victoria's

Secret

&

Co

(d)

1,714‌

72‌

Williams-Sonoma

Inc

28,421‌

3,835‌

Yum!

Brands

Inc

366,808‌

47,873‌

$

169,273‌

Savings

&

Loans

-

0

.01

%

New

York

Community

Bancorp

Inc

50,329‌

503‌

TFS

Financial

Corp

3,440‌

49‌

$

552‌

Semiconductors

-

2

.13

%

Cirrus

Logic

Inc

(d)

4,134‌

374‌

GLOBALFOUNDRIES

Inc

(d),(e)

3,605‌

214‌

IPG

Photonics

Corp

(d)

2,463‌

276‌

Microchip

Technology

Inc

5,862‌

455‌

MKS

Instruments

Inc

393,296‌

40,242‌

ON

Semiconductor

Corp

(d)

12,283‌

902‌

Qorvo

Inc

(d)

7,624‌

828‌

Skyworks

Solutions

Inc

374,107‌

41,028‌

Teradyne

Inc

1,095‌

111‌

Wolfspeed

Inc

(d)

9,280‌

715‌

$

85,145‌

Shipbuilding

-

0

.01

%

Huntington

Ingalls

Industries

Inc

2,316‌

511‌

Software

-

0

.63

%

Akamai

Technologies

Inc

(d)

11,675‌

1,038‌

ANSYS

Inc

(d)

3,103‌

827‌

Bill.com

Holdings

Inc

(d)

7,454‌

862‌

Black

Knight

Inc

(d)

10,553‌

639‌

Broadridge

Financial

Solutions

Inc

809‌

122‌

CCC

Intelligent

Solutions

Holdings

Inc

(d)

7,825‌

72‌

Ceridian

HCM

Holding

Inc

(d)

8,346‌

603‌

Concentrix

Corp

3,209‌

455‌

Coupa

Software

Inc

(d)

2,507‌

200‌

Definitive

Healthcare

Corp

(d)

1,489‌

18‌

DoubleVerify

Holdings

Inc

(d)

757‌

21‌

Doximity

Inc

(d)

130,942‌

4,619‌

Dropbox

Inc

-

A

Shares

(d)

1,282‌

30‌

Electronic

Arts

Inc

19,569‌

2,518‌

Guidewire

Software

Inc

(d)

6,180‌

453‌

Informatica

Inc

(d)

2,200‌

39‌

Jamf

Holding

Corp

(d)

715‌

14‌

Manhattan

Associates

Inc

(d)

28,675‌

3,738‌

MSCI

Inc

1,452‌

772‌

nCino

Inc

(d)

4,189‌

120‌

Nutanix

Inc

(d)

8,291‌

231‌

Paycor

HCM

Inc

(d)

4,131‌

104‌

Playtika

Holding

Corp

(d)

692‌

7‌

Procore

Technologies

Inc

(d)

1,473‌

82‌

SentinelOne

Inc

(d)

4,142‌

63‌

SS&C

Technologies

Holdings

Inc

16,626‌

1,003‌

Take-Two

Interactive

Software

Inc

(d)

2,109‌

239‌

Teradata

Corp

(d)

3,516‌

123‌

Twilio

Inc

(d)

8,167‌

489‌

Tyler

Technologies

Inc

(d)

395‌

127‌

UiPath

Inc

(d)

25,822‌

397‌

Unity

Software

Inc

(d),(e)

123,838‌

4,399‌

Zoom

Video

Communications

Inc

(d)

9,433‌

707‌

$

25,131‌

Telecommunications

-

1

.10

%

Ciena

Corp

(d)

183,179‌

9,529‌

Corning

Inc

53,473‌

1,851‌

Frontier

Communications

Parent

Inc

(d)

18,357‌

543‌

Juniper

Networks

Inc

24,051‌

777‌

Lumen

Technologies

Inc

77,051‌

404‌

Motorola

Solutions

Inc

118,398‌

30,429‌

Ubiquiti

Inc

208‌

61‌

Schedule

of

Investments

MidCap

Value

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

155

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Telecommunications

(continued)

Viasat

Inc

(d)

5,388‌

$

186‌

$

43,780‌

Toys,

Games

&

Hobbies

-

0

.02

%

Hasbro

Inc

9,891‌

585‌

Mattel

Inc

(d)

13,649‌

279‌

$

864‌

Transportation

-

2

.71

%

CH

Robinson

Worldwide

Inc

6,397‌

641‌

Expeditors

International

of

Washington

Inc

123,436‌

13,350‌

JB

Hunt

Transport

Services

Inc

162,685‌

30,755‌

Kirby

Corp

(d)

4,475‌

317‌

Knight-Swift

Transportation

Holdings

Inc

11,743‌

694‌

Landstar

System

Inc

215,986‌

37,329‌

RXO

Inc

(d)

7,091‌

130‌

Ryder

System

Inc

182,064‌

17,188‌

Schneider

National

Inc

279,583‌

7,409‌

XPO

Inc

(d)

7,091‌

283‌

$

108,096‌

Water

-

0

.07

%

American

Water

Works

Co

Inc

13,698‌

2,143‌

Essential

Utilities

Inc

17,416‌

814‌

$

2,957‌

TOTAL

COMMON

STOCKS

$

3,888,894‌

Total

Investments

$

3,997,022‌

Other

Assets

and

Liabilities

-  (0.11)%

(

4,258‌

)

TOTAL

NET

ASSETS

-

100.00%

$

3,992,764‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$3,758

or

0.09%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$3,814

or

0.10%

of

net

assets.

(f)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

Portfolio

Summary  (unaudited)

Sector

Percent

Financial

24

.39‌

%

Industrial

21

.47‌

%

Consumer,

Non-cyclical

15

.86‌

%

Consumer,

Cyclical

12

.65‌

%

Technology

8

.49‌

%

Basic

Materials

4

.37‌

%

Utilities

4

.36‌

%

Energy

4

.07‌

%

Money

Market

Funds

2

.45‌

%

Communications

1

.74‌

%

Investment

Companies

0

.26‌

%

Other

Assets

and

Liabilities

(

0

.11‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

250,847‌

$

156,963‌

$

93,884‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

108,689‌

273,755‌

382,444‌

—‌

$

108,689‌

$

524,602‌

$

539,407‌

$

93,884‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

478‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

387‌

—‌

—‌

—‌

$

865‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

S&P

Mid

400

Emini;

March

2023

Long

80‌

$

21,303‌

$

1,231‌

Total

$

1,231‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

Overseas

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

156

INVESTMENT

COMPANIES

-

1

.94

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.25

%

iShares

MSCI

EAFE

Value

ETF

(a)

111,000‌

$

5,510‌

Money

Market

Funds

-

1

.69

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(b),(c)

2,300,566‌

2,301‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(b),(d)

34,456,296‌

34,456‌

$

36,757‌

TOTAL

INVESTMENT

COMPANIES

$

42,267‌

COMMON

STOCKS

-

96

.92

%

Shares

Held

Value

(000's)

Advertising

-

0

.06

%

Dentsu

Group

Inc

7,700‌

$

248‌

Hakuhodo

DY

Holdings

Inc

8,200‌

89‌

Publicis

Groupe

SA

8,168‌

576‌

WPP

PLC

39,049‌

456‌

$

1,369‌

Aerospace

&

Defense

-

3

.94

%

BAE

Systems

PLC

1,410,937‌

14,936‌

Dassault

Aviation

SA

312‌

53‌

Rheinmetall

AG

78,387‌

18,316‌

Rolls-Royce

Holdings

PLC

(e)

30,172,604‌

39,476‌

Thales

SA

99,016‌

13,096‌

$

85,877‌

Agriculture

-

0

.54

%

British

American

Tobacco

PLC

256,039‌

9,815‌

Imperial

Brands

PLC

32,284‌

810‌

Japan

Tobacco

Inc

43,100‌

879‌

Wilmar

International

Ltd

68,900‌

214‌

$

11,718‌

Airlines

-

0

.91

%

ANA

Holdings

Inc

(e)

3,000‌

66‌

Deutsche

Lufthansa

AG

(e)

21,372‌

227‌

Japan

Airlines

Co

Ltd

(e)

2,700‌

57‌

Qantas

Airways

Ltd

(e)

11,568‌

52‌

Ryanair

Holdings

PLC

ADR

(e)

214,401‌

19,410‌

$

19,812‌

Apparel

-

0

.08

%

Kering

SA

2,630‌

1,641‌

Automobile

Manufacturers

-

2

.17

%

Bayerische

Motoren

Werke

AG

11,838‌

1,206‌

Daimler

Truck

Holding

AG

(e)

573,310‌

19,265‌

Honda

Motor

Co

Ltd

593,238‌

14,675‌

Isuzu

Motors

Ltd

20,800‌

263‌

Mazda

Motor

Corp

20,600‌

164‌

Mercedes-Benz

Group

AG

28,689‌

2,135‌

Nissan

Motor

Co

Ltd

83,200‌

299‌

Renault

SA

(e)

6,874‌

279‌

Stellantis

NV

78,688‌

1,237‌

Subaru

Corp

14,600‌

240‌

Suzuki

Motor

Corp

13,200‌

495‌

Toyota

Motor

Corp

379,450‌

5,572‌

Volkswagen

AG

1,055‌

185‌

Volvo

AB

-

A

Shares

7,159‌

149‌

Volvo

AB

-

B

Shares

53,957‌

1,071‌

Volvo

Car

AB

(a),(e)

21,305‌

106‌

$

47,341‌

Automobile

Parts

&

Equipment

-

1

.95

%

Aisin

Corp

5,400‌

157‌

Bridgestone

Corp

20,400‌

762‌

Cie

Generale

des

Etablissements

Michelin

SCA

676,764‌

21,399‌

Continental

AG

3,934‌

276‌

Koito

Manufacturing

Co

Ltd

872,952‌

14,725‌

NGK

Insulators

Ltd

8,800‌

122‌

Sumitomo

Electric

Industries

Ltd

25,700‌

309‌

Toyota

Industries

Corp

5,200‌

316‌

Valeo

198,251‌

4,333‌

$

42,399‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

-

14

.27

%

ABN

AMRO

Bank

NV

(f)

14,443‌

$

240‌

AIB

Group

PLC

38,233‌

161‌

ANZ

Group

Holdings

Ltd

106,905‌

1,903‌

Banco

Bilbao

Vizcaya

Argentaria

SA

216,933‌

1,532‌

Banco

Bradesco

SA

ADR

1,333,007‌

3,719‌

Banco

Santander

SA

600,469‌

2,099‌

Bank

Hapoalim

BM

45,411‌

409‌

Bank

Leumi

Le-Israel

BM

55,200‌

488‌

Bank

of

Ireland

Group

PLC

38,268‌

409‌

Banque

Cantonale

Vaudoise

1,076‌

102‌

Barclays

PLC

10,404,535‌

23,918‌

BNP

Paribas

SA

128,564‌

8,830‌

BOC

Hong

Kong

Holdings

Ltd

9,032,271‌

31,567‌

CaixaBank

SA

615,458‌

2,730‌

Chiba

Bank

Ltd/The

18,900‌

143‌

Commerzbank

AG

(e)

38,063‌

435‌

Commonwealth

Bank

of

Australia

30,417‌

2,374‌

Concordia

Financial

Group

Ltd

39,100‌

172‌

Credit

Agricole

SA

43,278‌

521‌

Credit

Suisse

Group

AG

62,979‌

217‌

Danske

Bank

A/S

(e)

24,664‌

514‌

Deutsche

Bank

AG

73,899‌

986‌

DNB

Bank

ASA

33,262‌

622‌

Erste

Group

Bank

AG

12,294‌

466‌

Hang

Seng

Bank

Ltd

27,500‌

458‌

HSBC

Holdings

PLC

6,442,233‌

47,469‌

ING

Groep

NV

4,315,763‌

62,493‌

Intesa

Sanpaolo

SpA

597,320‌

1,571‌

Israel

Discount

Bank

Ltd

44,228‌

226‌

Japan

Post

Bank

Co

Ltd

14,900‌

132‌

KBC

Group

NV

8,943‌

662‌

Lloyds

Banking

Group

PLC

2,438,489‌

1,587‌

Macquarie

Group

Ltd

13,124‌

1,751‌

Mediobanca

Banca

di

Credito

Finanziario

SpA

21,644‌

233‌

Mitsubishi

UFJ

Financial

Group

Inc

427,800‌

3,134‌

Mizrahi

Tefahot

Bank

Ltd

3,583‌

118‌

Mizuho

Financial

Group

Inc

86,400‌

1,350‌

NatWest

Group

PLC

190,020‌

725‌

Nordea

Bank

Abp

120,207‌

1,405‌

Oversea-Chinese

Banking

Corp

Ltd

121,200‌

1,197‌

Resona

Holdings

Inc

77,500‌

429‌

Shizuoka

Financial

Group

Inc

16,100‌

136‌

Skandinaviska

Enskilda

Banken

AB

57,778‌

699‌

Societe

Generale

SA

28,867‌

859‌

Standard

Chartered

PLC

58,108‌

488‌

Sumitomo

Mitsui

Financial

Group

Inc

320,300‌

13,921‌

Sumitomo

Mitsui

Trust

Holdings

Inc

12,107‌

441‌

Svenska

Handelsbanken

AB

52,155‌

544‌

Swedbank

AB

569,751‌

10,960‌

UBS

Group

AG

119,722‌

2,556‌

UniCredit

SpA

2,136,736‌

41,733‌

United

Overseas

Bank

Ltd

1,191,760‌

27,089‌

Westpac

Banking

Corp

125,181‌

2,106‌

$

311,029‌

Beverages

-

2

.39

%

Anheuser-Busch

InBev

SA/NV

177,342‌

10,705‌

Asahi

Group

Holdings

Ltd

16,300‌

538‌

Coca-Cola

Europacific

Partners

PLC

261,015‌

14,674‌

Coca-Cola

HBC

AG

(e)

4,687‌

114‌

Ito

En

Ltd

900‌

32‌

JDE

Peet's

NV

1,258‌

38‌

Kirin

Holdings

Co

Ltd

1,003,003‌

15,456‌

Pernod

Ricard

SA

50,313‌

10,416‌

Suntory

Beverage

&

Food

Ltd

1,800‌

61‌

$

52,034‌

Biotechnology

-

0

.01

%

Argenx

SE

(e)

689‌

262‌

Schedule

of

Investments

Overseas

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

157

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Building

Materials

-

0

.90

%

AGC

Inc

6,800‌

$

251‌

Cie

de

Saint-Gobain

17,663‌

1,014‌

CRH

PLC

322,514‌

15,055‌

CRH

PLC

26,996‌

1,261‌

HeidelbergCement

AG

5,178‌

355‌

Holcim

AG

(e)

19,819‌

1,185‌

Lixil

Corp

10,400‌

180‌

ROCKWOOL

A/S

316‌

91‌

TOTO

Ltd

2,600‌

101‌

Xinyi

Glass

Holdings

Ltd

64,000‌

136‌

$

19,629‌

Chemicals

-

3

.56

%

Air

Liquide

SA

115,617‌

18,409‌

Akzo

Nobel

NV

529,269‌

39,423‌

Arkema

SA

143,213‌

14,491‌

Asahi

Kasei

Corp

45,000‌

341‌

BASF

SE

32,840‌

1,883‌

Clariant

AG

(e)

2,719‌

47‌

Covestro

AG

(f)

6,909‌

318‌

Croda

International

PLC

1,744‌

149‌

Evonik

Industries

AG

7,500‌

167‌

Johnson

Matthey

PLC

6,550‌

183‌

Koninklijke

DSM

NV

2,187‌

281‌

Mitsubishi

Chemical

Group

Corp

45,900‌

257‌

Mitsui

Chemicals

Inc

6,700‌

158‌

OCI

NV

3,766‌

128‌

Solvay

SA

2,650‌

309‌

Sumitomo

Chemical

Co

Ltd

53,500‌

205‌

Toray

Industries

Inc

49,700‌

305‌

Tosoh

Corp

9,300‌

122‌

Umicore

SA

4,866‌

184‌

Yara

International

ASA

5,921‌

263‌

$

77,623‌

Commercial

Services

-

2

.65

%

Adecco

Group

AG

5,721‌

212‌

Amadeus

IT

Group

SA

(e)

360,072‌

22,686‌

Dai

Nippon

Printing

Co

Ltd

8,000‌

189‌

Randstad

NV

216,888‌

13,902‌

RELX

PLC

309,156‌

9,185‌

RELX

PLC

340,637‌

10,135‌

Secom

Co

Ltd

3,700‌

220‌

Securitas

AB

17,596‌

161‌

SGS

SA

113‌

276‌

TOPPAN

INC

9,500‌

153‌

Transurban

Group

54,965‌

539‌

$

57,658‌

Computers

-

0

.01

%

CyberArk

Software

Ltd

(e)

728‌

103‌

Otsuka

Corp

1,500‌

49‌

$

152‌

Consumer

Products

-

1

.29

%

Henkel

AG

&

Co

KGaA

3,716‌

248‌

Reckitt

Benckiser

Group

PLC

390,854‌

27,853‌

$

28,101‌

Cosmetics

&

Personal

Care

-

1

.08

%

Haleon

PLC

(e)

181,598‌

728‌

Kao

Corp

8,400‌

340‌

Unilever

PLC

443,456‌

22,571‌

$

23,639‌

Distribution

&

Wholesale

-

0

.26

%

Bunzl

PLC

4,223‌

155‌

ITOCHU

Corp

21,200‌

685‌

Marubeni

Corp

55,500‌

681‌

Mitsubishi

Corp

45,100‌

1,510‌

Mitsui

&

Co

Ltd

51,100‌

1,508‌

Sumitomo

Corp

40,400‌

725‌

Toyota

Tsusho

Corp

7,500‌

318‌

$

5,582‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Diversified

Financial

Services

-

2

.19

%

abrdn

plc

76,930‌

$

203‌

AerCap

Holdings

NV

(e)

4,833‌

305‌

Amundi

SA

(f)

2,194‌

144‌

Azimut

Holding

SpA

471,857‌

11,780‌

Daiwa

Securities

Group

Inc

47,900‌

226‌

Euronext

NV

(f)

3,061‌

248‌

Hargreaves

Lansdown

PLC

12,722‌

140‌

Julius

Baer

Group

Ltd

510,155‌

32,723‌

Mitsubishi

HC

Capital

Inc

23,700‌

121‌

Nomura

Holdings

Inc

104,200‌

416‌

ORIX

Corp

43,000‌

756‌

SBI

Holdings

Inc

9,000‌

191‌

Schroders

PLC

26,148‌

155‌

St

James's

Place

PLC

19,455‌

295‌

$

47,703‌

Electric

-

3

.58

%

Chubu

Electric

Power

Co

Inc

23,000‌

248‌

CLP

Holdings

Ltd

59,000‌

438‌

E.ON

SE

80,271‌

875‌

EDP

-

Energias

de

Portugal

SA

99,256‌

493‌

EDP

Renovaveis

SA

5,151‌

112‌

Electricite

de

France

SA

7,299‌

96‌

Endesa

SA

11,359‌

226‌

Enel

SpA

7,317,526‌

43,086‌

Engie

SA

65,305‌

927‌

Fortum

Oyj

15,883‌

239‌

HK

Electric

Investments

&

HK

Electric

Investments

Ltd

96,000‌

66‌

Iberdrola

SA

986,504‌

11,573‌

Kansai

Electric

Power

Co

Inc/The

25,400‌

244‌

Mercury

NZ

Ltd

24,710‌

96‌

Meridian

Energy

Ltd

23,043‌

80‌

National

Grid

PLC

130,864‌

1,664‌

Origin

Energy

Ltd

61,598‌

327‌

Orsted

AS

(f)

4,397‌

392‌

Power

Assets

Holdings

Ltd

50,000‌

283‌

Red

Electrica

Corp

SA

14,512‌

257‌

RWE

AG

332,433‌

14,800‌

SSE

PLC

38,177‌

815‌

Terna

-

Rete

Elettrica

Nazionale

50,309‌

398‌

Tokyo

Electric

Power

Co

Holdings

Inc

(e)

54,500‌

204‌

$

77,939‌

Electrical

Components

&

Equipment

-

0

.01

%

Brother

Industries

Ltd

8,500‌

132‌

Electronics

-

0

.80

%

Kyocera

Corp

11,400‌

592‌

Murata

Manufacturing

Co

Ltd

292,900‌

16,736‌

Venture

Corp

Ltd

9,900‌

140‌

Yokogawa

Electric

Corp

3,100‌

54‌

$

17,522‌

Engineering

&

Construction

-

1

.76

%

ACS

Actividades

de

Construccion

y

Servicios

SA

7,743‌

229‌

ACS

Actividades

de

Construccion

y

Servicios

SA

-

Rights

(e)

7,743‌

4‌

Aena

SME

SA

(e),(f)

110,156‌

16,551‌

Auckland

International

Airport

Ltd

(e)

15,665‌

86‌

Beijing

Capital

International

Airport

Co

Ltd

(e)

7,868,000‌

5,984‌

Bouygues

SA

8,207‌

270‌

CK

Infrastructure

Holdings

Ltd

23,000‌

128‌

Eiffage

SA

1,490‌

159‌

Ferrovial

SA

17,447‌

515‌

Kajima

Corp

15,200‌

187‌

Keppel

Corp

Ltd

52,300‌

302‌

Lendlease

Corp

Ltd

24,634‌

150‌

Obayashi

Corp

23,400‌

182‌

Shimizu

Corp

19,800‌

111‌

Skanska

AB

12,166‌

215‌

Taisei

Corp

6,500‌

224‌

Schedule

of

Investments

Overseas

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

158

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Engineering

&

Construction

(continued)

Vinci

SA

114,920‌

$

12,985‌

$

38,282‌

Entertainment

-

1

.17

%

Genting

Singapore

Ltd

33,082,475‌

25,055‌

Oriental

Land

Co

Ltd/Japan

2,500‌

417‌

Toho

Co

Ltd/Tokyo

1,500‌

55‌

$

25,527‌

Food

-

4

.05

%

Associated

British

Foods

PLC

770,412‌

17,685‌

Carrefour

SA

507,925‌

9,661‌

CK

Hutchison

Holdings

Ltd

2,385,500‌

15,181‌

Danone

SA

778,841‌

42,711‌

J

Sainsbury

PLC

62,862‌

204‌

Kesko

Oyj

9,764‌

228‌

Koninklijke

Ahold

Delhaize

NV

37,391‌

1,116‌

MEIJI

Holdings

Co

Ltd

4,000‌

206‌

Nisshin

Seifun

Group

Inc

7,100‌

89‌

Ocado

Group

PLC

(e)

13,419‌

107‌

Orkla

ASA

26,856‌

201‌

Salmar

ASA

817‌

38‌

Tesco

PLC

266,890‌

811‌

WH

Group

Ltd

(f)

151,000‌

93‌

$

88,331‌

Food

Service

-

0

.84

%

Compass

Group

PLC

764,653‌

18,266‌

Forest

Products

&

Paper

-

0

.10

%

Holmen

AB

3,353‌

138‌

Mondi

PLC

17,364‌

327‌

Oji

Holdings

Corp

29,300‌

121‌

Smurfit

Kappa

Group

PLC

8,839‌

371‌

Stora

Enso

Oyj

19,705‌

282‌

Svenska

Cellulosa

AB

SCA

14,080‌

196‌

UPM-Kymmene

Oyj

19,086‌

692‌

$

2,127‌

Gas

-

0

.85

%

Centrica

PLC

13,672,571‌

17,033‌

Enagas

SA

8,902‌

160‌

Hong

Kong

&

China

Gas

Co

Ltd

402,300‌

404‌

Naturgy

Energy

Group

SA

5,201‌

148‌

Osaka

Gas

Co

Ltd

13,500‌

218‌

Snam

SpA

72,100‌

367‌

Tokyo

Gas

Co

Ltd

14,100‌

295‌

$

18,625‌

Hand

&

Machine

Tools

-

0

.83

%

Fuji

Electric

Co

Ltd

2,900‌

118‌

Makita

Corp

665,700‌

17,732‌

Schindler

Holding

AG

-

PC

728‌

155‌

$

18,005‌

Healthcare

-

Products

-

2

.17

%

Elekta

AB

2,212,056‌

16,101‌

EssilorLuxottica

SA

5,197‌

954‌

Koninklijke

Philips

NV

958,938‌

16,556‌

Smith

&

Nephew

PLC

988,559‌

13,652‌

$

47,263‌

Healthcare

-

Services

-

0

.05

%

Eurofins

Scientific

SE

2,407‌

173‌

Fresenius

Medical

Care

AG

&

Co

KGaA

7,345‌

276‌

Fresenius

SE

&

Co

KGaA

15,101‌

437‌

Ramsay

Health

Care

Ltd

2,294‌

108‌

Sonic

Healthcare

Ltd

5,707‌

128‌

$

1,122‌

Holding

Companies

-

Diversified

-

0

.02

%

Jardine

Matheson

Holdings

Ltd

5,518‌

293‌

Swire

Pacific

Ltd

18,000‌

165‌

$

458‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Home

Builders

-

0

.68

%

Barratt

Developments

PLC

36,562‌

$

208‌

Berkeley

Group

Holdings

PLC

3,906‌

200‌

Daiwa

House

Industry

Co

Ltd

21,600‌

519‌

Iida

Group

Holdings

Co

Ltd

5,300‌

88‌

Persimmon

PLC

782,743‌

13,671‌

Taylor

Wimpey

PLC

126,287‌

183‌

$

14,869‌

Home

Furnishings

-

0

.05

%

Electrolux

AB

(a)

7,865‌

111‌

Hoshizaki

Corp

2,000‌

72‌

Panasonic

Holdings

Corp

79,100‌

734‌

SEB

SA

889‌

93‌

Sharp

Corp/Japan

(a)

8,300‌

69‌

$

1,079‌

Insurance

-

5

.32

%

Admiral

Group

PLC

6,443‌

175‌

Aegon

NV

63,887‌

352‌

Ageas

SA/NV

5,767‌

282‌

Allianz

SE

104,352‌

24,952‌

Assicurazioni

Generali

SpA

39,718‌

775‌

Aviva

PLC

100,213‌

565‌

AXA

SA

683,430‌

21,322‌

Baloise

Holding

AG

1,637‌

269‌

Dai-ichi

Life

Holdings

Inc

35,200‌

826‌

Gjensidige

Forsikring

ASA

4,651‌

84‌

Hannover

Rueck

SE

1,077‌

219‌

Japan

Post

Holdings

Co

Ltd

85,200‌

748‌

Japan

Post

Insurance

Co

Ltd

7,300‌

130‌

Legal

&

General

Group

PLC

4,803,714‌

15,117‌

M&G

PLC

89,835‌

224‌

MS&AD

Insurance

Group

Holdings

Inc

16,000‌

513‌

Muenchener

Rueckversicherungs-Gesellschaft

AG

in

Muenchen

1,753‌

633‌

NN

Group

NV

9,976‌

433‌

Phoenix

Group

Holdings

PLC

26,818‌

213‌

Prudential

PLC

2,011,133‌

33,415‌

Sampo

Oyj

17,153‌

901‌

Sompo

Holdings

Inc

11,100‌

478‌

Suncorp

Group

Ltd

45,147‌

401‌

Swiss

Life

Holding

AG

1,102‌

652‌

Swiss

Re

AG

3,775‌

395‌

T&D

Holdings

Inc

18,900‌

303‌

Zurich

Insurance

Group

AG

23,498‌

11,621‌

$

115,998‌

Internet

-

0

.14

%

Just

Eat

Takeaway.com

NV

(e),(f)

6,532‌

167‌

Meituan

(e),(f)

5,050‌

113‌

Rakuten

Group

Inc

15,900‌

81‌

Tencent

Holdings

Ltd

50,500‌

2,461‌

Trend

Micro

Inc/Japan

2,400‌

119‌

United

Internet

AG

3,497‌

81‌

$

3,022‌

Investment

Companies

-

0

.10

%

Eurazeo

SE

1,559‌

109‌

EXOR

NV

(e)

3,877‌

308‌

Groupe

Bruxelles

Lambert

NV

3,554‌

304‌

Industrivarden

AB

-

A

Shares

3,029‌

80‌

Investor

AB

-

A

Shares

17,830‌

356‌

Investor

AB

-

B

Shares

42,341‌

823‌

L

E

Lundbergforetagen

AB

1,780‌

83‌

Sofina

SA

191‌

45‌

Washington

H

Soul

Pattinson

&

Co

Ltd

7,743‌

158‌

$

2,266‌

Iron

&

Steel

-

0

.26

%

ArcelorMittal

SA

115,133‌

3,572‌

BlueScope

Steel

Ltd

16,829‌

230‌

Fortescue

Metals

Group

Ltd

60,549‌

956‌

JFE

Holdings

Inc

17,700‌

233‌

Nippon

Steel

Corp

29,100‌

606‌

Schedule

of

Investments

Overseas

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

159

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Iron

&

Steel

(continued)

voestalpine

AG

4,152‌

$

138‌

$

5,735‌

Leisure

Products

&

Services

-

0

.01

%

Yamaha

Motor

Co

Ltd

10,500‌

259‌

Lodging

-

1

.46

%

Accor

SA

(e)

757,023‌

24,572‌

City

Developments

Ltd

14,700‌

93‌

Sands

China

Ltd

(e)

1,864,400‌

6,991‌

Whitbread

PLC

4,695‌

177‌

$

31,833‌

Machinery

-

Construction

&

Mining

-

1

.74

%

Hitachi

Construction

Machinery

Co

Ltd

4,000‌

94‌

Hitachi

Ltd

34,600‌

1,815‌

Komatsu

Ltd

793,147‌

19,491‌

Mitsubishi

Electric

Corp

1,412,811‌

15,570‌

Mitsubishi

Heavy

Industries

Ltd

11,300‌

443‌

Sandvik

AB

13,342‌

276‌

Siemens

Energy

AG

(a)

15,588‌

326‌

$

38,015‌

Machinery

-

Diversified

-

2

.67

%

Atlas

Copco

AB

-

A

Shares

33,611‌

399‌

FANUC

Corp

180,000‌

31,804‌

GEA

Group

AG

1,895‌

85‌

Husqvarna

AB

15,005‌

128‌

Kone

Oyj

7,899‌

431‌

Kubota

Corp

23,800‌

358‌

Nabtesco

Corp

840,658‌

24,613‌

Omron

Corp

2,200‌

127‌

Wartsila

OYJ

Abp

16,927‌

161‌

Yaskawa

Electric

Corp

2,900‌

113‌

$

58,219‌

Media

-

1

.12

%

Bollore

SE

31,649‌

177‌

Informa

PLC

2,860,387‌

23,657‌

Pearson

PLC

23,688‌

270‌

Vivendi

SE

25,763‌

277‌

$

24,381‌

Metal

Fabrication

&

Hardware

-

1

.71

%

NSK

Ltd

2,367,200‌

13,314‌

SKF

AB

1,346,404‌

23,829‌

Tenaris

SA

5,911‌

105‌

$

37,248‌

Mining

-

1

.96

%

Anglo

American

PLC

45,435‌

1,960‌

Antofagasta

PLC

14,103‌

303‌

BHP

Group

Ltd

181,126‌

6,344‌

Boliden

AB

(e)

9,780‌

439‌

Glencore

PLC

349,303‌

2,339‌

Gold

Fields

Ltd

1,222,303‌

13,932‌

Newcrest

Mining

Ltd

31,932‌

507‌

Norsk

Hydro

ASA

48,086‌

390‌

Rio

Tinto

Ltd

13,273‌

1,191‌

Rio

Tinto

PLC

184,379‌

14,437‌

South32

Ltd

165,487‌

531‌

Sumitomo

Metal

Mining

Co

Ltd

8,700‌

353‌

$

42,726‌

Miscellaneous

Manufacturers

-

1

.32

%

Alstom

SA

813,765‌

24,198‌

Knorr-Bremse

AG

2,592‌

170‌

Siemens

AG

27,351‌

4,272‌

Smiths

Group

PLC

8,423‌

180‌

$

28,820‌

Office

&

Business

Equipment

-

0

.08

%

Canon

Inc

35,900‌

797‌

FUJIFILM

Holdings

Corp

12,800‌

677‌

Ricoh

Co

Ltd

20,700‌

161‌

Seiko

Epson

Corp

10,200‌

158‌

$

1,793‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Oil

&

Gas

-

3

.81

%

Aker

BP

ASA

617,789‌

$

18,819‌

BP

PLC

2,123,107‌

12,824‌

DCC

PLC

3,530‌

201‌

ENEOS

Holdings

Inc

109,910‌

393‌

Eni

SpA

89,390‌

1,376‌

Equinor

ASA

34,063‌

1,038‌

Galp

Energia

SGPS

SA

17,925‌

245‌

Idemitsu

Kosan

Co

Ltd

7,600‌

190‌

Inpex

Corp

37,400‌

411‌

OMV

AG

5,266‌

264‌

Repsol

SA

49,332‌

810‌

Santos

Ltd

113,974‌

582‌

Shell

PLC

259,732‌

7,625‌

Suncor

Energy

Inc

669,732‌

23,245‌

TotalEnergies

SE

214,682‌

13,272‌

Woodside

Energy

Group

Ltd

67,890‌

1,758‌

$

83,053‌

Packaging

&

Containers

-

0

.67

%

DS

Smith

PLC

3,314,119‌

14,509‌

Pharmaceuticals

-

7

.15

%

Astellas

Pharma

Inc

42,800‌

630‌

AstraZeneca

PLC

153,480‌

20,108‌

Bayer

AG

254,135‌

15,819‌

Eisai

Co

Ltd

4,400‌

272‌

GSK

PLC

693,662‌

12,184‌

Hikma

Pharmaceuticals

PLC

5,902‌

125‌

Ipsen

SA

470‌

49‌

Novartis

AG

283,571‌

25,637‌

Orion

Oyj

1,908‌

102‌

Roche

Holding

AG

74,607‌

23,290‌

Sanofi

233,066‌

22,823‌

Shionogi

&

Co

Ltd

3,200‌

153‌

Sino

Biopharmaceutical

Ltd

24,639,405‌

14,337‌

Takeda

Pharmaceutical

Co

Ltd

623,100‌

19,588‌

Teva

Pharmaceutical

Industries

Ltd

ADR

(e)

39,709‌

419‌

UCB

SA

2,261‌

186‌

$

155,722‌

Pipelines

-

1

.01

%

Enbridge

Inc

537,503‌

22,008‌

Private

Equity

-

0

.04

%

3i

Group

PLC

34,800‌

679‌

Partners

Group

Holding

AG

282‌

264‌

$

943‌

Real

Estate

-

0

.87

%

Aroundtown

SA

35,724‌

99‌

Azrieli

Group

Ltd

1,516‌

98‌

CK

Asset

Holdings

Ltd

72,000‌

460‌

Daito

Trust

Construction

Co

Ltd

2,200‌

217‌

Fastighets

AB

Balder

(e)

14,663‌

76‌

Hang

Lung

Properties

Ltd

74,000‌

140‌

Henderson

Land

Development

Co

Ltd

52,438‌

194‌

Hongkong

Land

Holdings

Ltd

2,760,730‌

13,497‌

Hulic

Co

Ltd

13,900‌

114‌

LEG

Immobilien

SE

2,647‌

207‌

Mitsubishi

Estate

Co

Ltd

42,400‌

545‌

New

World

Development

Co

Ltd

54,451‌

163‌

Nomura

Real

Estate

Holdings

Inc

4,400‌

97‌

Sekisui

House

Ltd

(a)

22,200‌

420‌

Sino

Land

Co

Ltd

126,000‌

164‌

Sumitomo

Realty

&

Development

Co

Ltd

11,200‌

273‌

Sun

Hung

Kai

Properties

Ltd

51,883‌

736‌

Swire

Properties

Ltd

41,800‌

117‌

Swiss

Prime

Site

AG

2,743‌

244‌

UOL

Group

Ltd

11,000‌

59‌

Vonovia

SE

25,612‌

723‌

Wharf

Real

Estate

Investment

Co

Ltd

60,000‌

343‌

$

18,986‌

Schedule

of

Investments

Overseas

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

160

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

-

0

.25

%

British

Land

Co

PLC/The

31,488‌

$

172‌

CapitaLand

Ascendas

REIT

120,500‌

265‌

CapitaLand

Integrated

Commercial

Trust

189,999‌

311‌

Covivio

1,694‌

116‌

Daiwa

House

REIT

Investment

Corp

79‌

172‌

Gecina

SA

1,643‌

195‌

GLP

J-Reit

75‌

85‌

GPT

Group/The

68,492‌

222‌

Japan

Metropolitan

Fund

Invest

251‌

194‌

Japan

Real

Estate

Investment

Corp

44‌

189‌

Klepierre

SA

(e)

7,694‌

195‌

Land

Securities

Group

PLC

25,292‌

222‌

Link

REIT

75,700‌

606‌

Mapletree

Logistics

Trust

120,200‌

155‌

Mapletree

Pan

Asia

Commercial

Trust

84,800‌

118‌

Mirvac

Group

141,084‌

228‌

Nippon

Building

Fund

Inc

54‌

236‌

Nippon

Prologis

REIT

Inc

(e)

49‌

111‌

Nomura

Real

Estate

Master

Fund

Inc

(e)

151‌

177‌

Scentre

Group

185,581‌

403‌

Segro

PLC

15,134‌

156‌

Stockland

85,354‌

238‌

Unibail-Rodamco-Westfield

(e)

4,218‌

273‌

Vicinity

Ltd

138,352‌

202‌

Warehouses

De

Pauw

CVA

5,773‌

183‌

$

5,424‌

Retail

-

1

.59

%

Alimentation

Couche-Tard

Inc

219,157‌

10,008‌

Cie

Financiere

Richemont

SA

42,247‌

6,513‌

H

&

M

Hennes

&

Mauritz

AB

(a)

26,115‌

321‌

Industria

de

Diseno

Textil

SA

516,057‌

16,112‌

Jardine

Cycle

&

Carriage

Ltd

3,500‌

77‌

Kingfisher

PLC

70,353‌

243‌

Next

PLC

4,619‌

378‌

Nitori

Holdings

Co

Ltd

1,000‌

132‌

Pandora

A/S

3,240‌

270‌

Swatch

Group

AG/The

-

BR

1,035‌

375‌

Swatch

Group

AG/The

-

REG

1,883‌

124‌

USS

Co

Ltd

2,700‌

44‌

$

34,597‌

Semiconductors

-

3

.05

%

Samsung

Electronics

Co

Ltd

588,786‌

29,328‌

SK

Hynix

Inc

397,867‌

28,783‌

SUMCO

Corp

12,400‌

184‌

Tokyo

Electron

Ltd

23,100‌

8,074‌

$

66,369‌

Software

-

1

.43

%

SAP

SE

262,179‌

31,079‌

Ubisoft

Entertainment

SA

(e)

1,181‌

24‌

$

31,103‌

Telecommunications

-

1

.44

%

BT

Group

PLC

248,495‌

383‌

Deutsche

Telekom

AG

856,091‌

19,073‌

Elisa

Oyj

3,307‌

188‌

HKT

Trust

&

HKT

Ltd

138,000‌

181‌

KDDI

Corp

57,700‌

1,803‌

Koninklijke

KPN

NV

118,110‌

404‌

Nokia

OYJ

193,480‌

917‌

Orange

SA

71,334‌

755‌

Singapore

Telecommunications

Ltd

103,200‌

198‌

SoftBank

Corp

102,900‌

1,177‌

SoftBank

Group

Corp

43,100‌

2,040‌

Spark

New

Zealand

Ltd

66,919‌

226‌

Swisscom

AG

927‌

548‌

Tele2

AB

20,373‌

176‌

Telecom

Italia

SpA/Milano

(e)

231,575‌

67‌

Telefonaktiebolaget

LM

Ericsson

104,358‌

605‌

Telefonica

Deutschland

Holding

AG

37,226‌

110‌

Telefonica

SA

185,843‌

706‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Telecommunications

(continued)

Telenor

ASA

25,021‌

$

262‌

Telia

Co

AB

95,047‌

245‌

Telstra

Group

Ltd

72,298‌

209‌

Vodafone

Group

PLC

944,272‌

1,089‌

$

31,362‌

Transportation

-

1

.58

%

AP

Moller

-

Maersk

A/S

-

A

54‌

115‌

AP

Moller

-

Maersk

A/S

-

B

179‌

389‌

Canadian

National

Railway

Co

123,211‌

14,666‌

Central

Japan

Railway

Co

5,100‌

622‌

Deutsche

Post

AG

362,797‌

15,621‌

East

Japan

Railway

Co

7,000‌

390‌

Getlink

SE

7,864‌

133‌

Hankyu

Hanshin

Holdings

Inc

5,300‌

157‌

Keio

Corp

1,800‌

66‌

Keisei

Electric

Railway

Co

Ltd

1,700‌

50‌

Kintetsu

Group

Holdings

Co

Ltd

4,000‌

130‌

Mitsui

OSK

Lines

Ltd

(a)

12,400‌

308‌

MTR

Corp

Ltd

56,000‌

300‌

Nippon

Express

Holdings

Inc

2,700‌

157‌

Nippon

Yusen

KK

17,500‌

416‌

Odakyu

Electric

Railway

Co

Ltd

5,300‌

70‌

Poste

Italiane

SpA

(f)

18,683‌

200‌

SITC

International

Holdings

Co

Ltd

46,000‌

100‌

Tobu

Railway

Co

Ltd

3,400‌

80‌

Tokyu

Corp

9,400‌

121‌

West

Japan

Railway

Co

5,100‌

214‌

ZIM

Integrated

Shipping

Services

Ltd

(a)

3,006‌

57‌

$

34,362‌

Water

-

0

.92

%

Severn

Trent

PLC

5,842‌

203‌

United

Utilities

Group

PLC

24,382‌

319‌

Veolia

Environnement

SA

657,923‌

19,529‌

$

20,051‌

TOTAL

COMMON

STOCKS

$

2,111,920‌

PREFERRED

STOCKS

-

1

.02

%

Shares

Held

Value

(000's)

Automobile

Manufacturers

-

0

.06

%

Bayerische

Motoren

Werke

AG

5.82%

2,124‌

$

201‌

Porsche

Automobil

Holding

SE

2.56%

5,474‌

327‌

Volkswagen

AG

7.56%

6,636‌

921‌

$

1,449‌

Consumer

Products

-

0

.96

%

Henkel

AG

&

Co

KGaA

1.85%

292,804‌

20,877‌

TOTAL

PREFERRED

STOCKS

$

22,326‌

Total

Investments

$

2,176,513‌

Other

Assets

and

Liabilities

-  0.12%

2,593‌

TOTAL

NET

ASSETS

-

100.00%

$

2,179,106‌

(a)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,199

or

0.10%

of

net

assets.

(b)

Current

yield

shown

is

as

of

period

end.

(c)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,301

or

0.11%

of

net

assets.

(d)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(e)

Non-income

producing

security

(f)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$18,466

or

0.85%

of

net

assets.

Schedule

of

Investments

Overseas

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

161

Portfolio

Summary  (unaudited)

Location

Percent

United

Kingdom

21

.73‌

%

France

13

.38‌

%

Japan

12

.84‌

%

Germany

9

.09‌

%

Netherlands

6

.32‌

%

Switzerland

5

.05‌

%

Italy

4

.66‌

%

Hong

Kong

3

.71‌

%

Spain

3

.50‌

%

Canada

3

.21‌

%

Sweden

2

.68‌

%

Korea,

Republic

Of

2

.67‌

%

Singapore

2

.51‌

%

United

States

1

.94‌

%

Ireland

1

.71‌

%

Australia

1

.09‌

%

Norway

0

.99‌

%

South

Africa

0

.64‌

%

Belgium

0

.58‌

%

China

0

.39‌

%

Macao

0

.33‌

%

Finland

0

.24‌

%

Luxembourg

0

.19‌

%

Brazil

0

.17‌

%

Israel

0

.09‌

%

Denmark

0

.08‌

%

Austria

0

.03‌

%

Portugal

0

.03‌

%

New

Zealand

0

.01‌

%

Jordan

0

.01‌

%

Chile

0

.01‌

%

Other

Assets

and

Liabilities

0

.12‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

227,885‌

$

193,429‌

$

34,456‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

34,824‌

308,228‌

343,052‌

—‌

$

34,824‌

$

536,113‌

$

536,481‌

$

34,456‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

216‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

172‌

—‌

—‌

—‌

$

388‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

eMini

MSCI

EAFE;

March

2023

Long

119‌

$

12,608‌

$

272‌

Total

$

272‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

Principal

Capital

Appreciation

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

162

INVESTMENT

COMPANIES

-

0

.57

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

0

.57

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

486,000‌

$

486‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(c)

18,030,144‌

18,030‌

$

18,516‌

TOTAL

INVESTMENT

COMPANIES

$

18,516‌

COMMON

STOCKS

-

99

.57

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

0

.88

%

Raytheon

Technologies

Corp

290,721‌

$

29,029‌

Apparel

-

1

.63

%

Deckers

Outdoor

Corp

(d)

95,737‌

40,926‌

NIKE

Inc

99,003‌

12,606‌

$

53,532‌

Automobile

Manufacturers

-

2

.85

%

Cummins

Inc

108,894‌

27,173‌

PACCAR

Inc

326,127‌

35,649‌

Tesla

Inc

(d)

176,682‌

30,605‌

$

93,427‌

Automobile

Parts

&

Equipment

-

0

.36

%

Magna

International

Inc

180,643‌

11,731‌

Banks

-

5

.02

%

First

Republic

Bank/CA

118,038‌

16,629‌

JPMorgan

Chase

&

Co

503,665‌

70,493‌

Morgan

Stanley

456,133‌

44,396‌

PNC

Financial

Services

Group

Inc/The

200,593‌

33,184‌

$

164,702‌

Beverages

-

1

.43

%

Keurig

Dr

Pepper

Inc

1,326,800‌

46,810‌

Biotechnology

-

0

.12

%

Provention

Bio

Inc

(d)

460,658‌

3,989‌

Chemicals

-

3

.25

%

Air

Products

and

Chemicals

Inc

122,116‌

39,139‌

Albemarle

Corp

101,012‌

28,430‌

FMC

Corp

294,344‌

39,186‌

$

106,755‌

Commercial

Services

-

1

.05

%

Morningstar

Inc

65,738‌

15,967‌

PayPal

Holdings

Inc

(d)

225,183‌

18,350‌

$

34,317‌

Computers

-

5

.72

%

Amdocs

Ltd

331,136‌

30,441‌

Apple

Inc

1,091,371‌

157,474‌

$

187,915‌

Consumer

Products

-

0

.92

%

Church

&

Dwight

Co

Inc

374,961‌

30,319‌

Diversified

Financial

Services

-

7

.93

%

Ameriprise

Financial

Inc

122,959‌

43,050‌

BlackRock

Inc

19,281‌

14,638‌

Charles

Schwab

Corp/The

320,591‌

24,820‌

Discover

Financial

Services

118,332‌

13,813‌

Nasdaq

Inc

667,185‌

40,158‌

Visa

Inc

538,033‌

123,861‌

$

260,340‌

Electric

-

3

.11

%

Constellation

Energy

Corp

358,425‌

30,595‌

NextEra

Energy

Inc

533,015‌

39,779‌

Xcel

Energy

Inc

460,868‌

31,694‌

$

102,068‌

Electronics

-

0

.41

%

Honeywell

International

Inc

65,329‌

13,620‌

Energy

-

Alternate

Sources

-

0

.10

%

Enphase

Energy

Inc

(d)

15,166‌

3,357‌

Environmental

Control

-

0

.80

%

Republic

Services

Inc

209,822‌

26,190‌

Food

-

0

.83

%

Simply

Good

Foods

Co/The

(d)

746,721‌

27,106‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Products

-

4

.32

%

Abbott

Laboratories

452,307‌

$

50,002‌

Cooper

Cos

Inc/The

36,726‌

12,815‌

Edwards

Lifesciences

Corp

(d)

126,147‌

9,675‌

Medtronic

PLC

234,181‌

19,599‌

Thermo

Fisher

Scientific

Inc

87,456‌

49,879‌

$

141,970‌

Healthcare

-

Services

-

2

.60

%

HCA

Healthcare

Inc

104,976‌

26,776‌

UnitedHealth

Group

Inc

117,462‌

58,636‌

$

85,412‌

Home

Furnishings

-

0

.30

%

Sonos

Inc

(d)

538,699‌

9,934‌

Insurance

-

3

.01

%

Fidelity

National

Financial

Inc

392,589‌

17,286‌

Marsh

&

McLennan

Cos

Inc

224,801‌

39,320‌

Progressive

Corp/The

310,527‌

42,340‌

$

98,946‌

Internet

-

7

.38

%

Alphabet

Inc

-

A

Shares

(d)

1,071,661‌

105,923‌

Amazon.com

Inc

(d)

861,035‌

88,798‌

Meta

Platforms

Inc

(d)

220,392‌

32,832‌

Shopify

Inc

(d)

301,341‌

14,847‌

$

242,400‌

Leisure

Products

&

Services

-

0

.45

%

YETI

Holdings

Inc

(d)

330,876‌

14,810‌

Machinery

-

Construction

&

Mining

-

0

.95

%

Epiroc

AB

-

A

Shares

1,601,553‌

31,161‌

Machinery

-

Diversified

-

0

.96

%

Deere

&

Co

74,521‌

31,510‌

Media

-

3

.52

%

Charter

Communications

Inc

(d)

26,270‌

10,096‌

Comcast

Corp

-

Class

A

1,377,626‌

54,210‌

Nexstar

Media

Group

Inc

152,967‌

31,323‌

Walt

Disney

Co/The

(d)

184,433‌

20,009‌

$

115,638‌

Miscellaneous

Manufacturers

-

2

.42

%

Parker-Hannifin

Corp

136,606‌

44,533‌

Trane

Technologies

PLC

195,712‌

35,056‌

$

79,589‌

Oil

&

Gas

-

4

.58

%

Chevron

Corp

363,322‌

63,225‌

EOG

Resources

Inc

269,927‌

35,698‌

Helmerich

&

Payne

Inc

293,354‌

14,210‌

Marathon

Petroleum

Corp

289,087‌

37,154‌

$

150,287‌

Oil

&

Gas

Services

-

0

.21

%

Schlumberger

Ltd

119,935‌

6,834‌

Pharmaceuticals

-

6

.10

%

Bristol-Myers

Squibb

Co

318,832‌

23,163‌

CVS

Health

Corp

412,076‌

36,353‌

Eli

Lilly

&

Co

118,110‌

40,648‌

Merck

&

Co

Inc

328,096‌

35,241‌

Pfizer

Inc

741,182‌

32,731‌

Roche

Holding

AG

ADR

674,181‌

26,394‌

SIGA

Technologies

Inc

(e)

783,421‌

5,742‌

$

200,272‌

REITs

-

3

.08

%

Alexandria

Real

Estate

Equities

Inc

129,829‌

20,869‌

American

Tower

Corp

87,291‌

19,500‌

Extra

Space

Storage

Inc

70,110‌

11,065‌

Host

Hotels

&

Resorts

Inc

1,924,933‌

36,285‌

Prologis

Inc

104,604‌

13,523‌

$

101,242‌

Retail

-

6

.15

%

Chipotle

Mexican

Grill

Inc

(d)

12,963‌

21,342‌

Costco

Wholesale

Corp

72,665‌

37,142‌

Home

Depot

Inc/The

125,680‌

40,742‌

Schedule

of

Investments

Principal

Capital

Appreciation

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

163

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Retail

(continued)

Lululemon

Athletica

Inc

(d)

30,030‌

$

9,216‌

O'Reilly

Automotive

Inc

(d)

33,881‌

26,846‌

Papa

John's

International

Inc

107,413‌

9,634‌

Starbucks

Corp

70,642‌

7,710‌

Target

Corp

52,623‌

9,058‌

Tractor

Supply

Co

175,917‌

40,107‌

$

201,797‌

Semiconductors

-

5

.04

%

Broadcom

Inc

106,295‌

62,184‌

Lam

Research

Corp

67,841‌

33,927‌

Microchip

Technology

Inc

358,774‌

27,848‌

NVIDIA

Corp

212,711‌

41,557‌

$

165,516‌

Software

-

9

.09

%

Adobe

Inc

(d)

130,710‌

48,407‌

Fair

Isaac

Corp

(d)

57,400‌

38,226‌

Microsoft

Corp

600,671‌

148,852‌

Roper

Technologies

Inc

85,256‌

36,383‌

Salesforce

Inc

(d)

104,481‌

17,550‌

ServiceNow

Inc

(d)

19,729‌

8,979‌

$

298,397‌

Telecommunications

-

1

.30

%

T-Mobile

US

Inc

(d)

285,808‌

42,674‌

Transportation

-

1

.70

%

Expeditors

International

of

Washington

Inc

264,824‌

28,641‌

Union

Pacific

Corp

132,901‌

27,137‌

$

55,778‌

TOTAL

COMMON

STOCKS

$

3,269,374‌

Total

Investments

$

3,287,890‌

Other

Assets

and

Liabilities

-  (0.14)%

(

4,506‌

)

TOTAL

NET

ASSETS

-

100.00%

$

3,283,384‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$486

or

0.01%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$475

or

0.01%

of

net

assets.

Portfolio

Summary  (unaudited)

Sector

Percent

Technology

19

.85‌

%

Financial

19

.04‌

%

Consumer,

Non-cyclical

17

.37‌

%

Communications

12

.20‌

%

Consumer,

Cyclical

11

.74‌

%

Industrial

8

.12‌

%

Energy

4

.89‌

%

Basic

Materials

3

.25‌

%

Utilities

3

.11‌

%

Money

Market

Funds

0

.57‌

%

Other

Assets

and

Liabilities

(

0

.14‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

137,655‌

$

119,625‌

$

18,030‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

93,232‌

154,459‌

247,691‌

—‌

$

93,232‌

$

292,114‌

$

367,316‌

$

18,030‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

331‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

221‌

—‌

—‌

—‌

$

552‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

Principal

LifeTime

2010

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

164

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

55

.51

%

Blue

Chip

Fund

(a),(b)

586,099‌

$

17,993‌

Core

Fixed

Income

Fund

(a)

21,732,307‌

188,636‌

Diversified

International

Fund

(a)

2,117,371‌

26,065‌

Diversified

Real

Asset

Fund

(a)

1,137,862‌

13,029‌

International

Small

Company

Fund

(a)

497,358‌

4,864‌

LargeCap

Growth

Fund

I

(a),(b)

1,221,044‌

17,436‌

MidCap

Fund

(a),(b)

91,574‌

3,103‌

MidCap

Value

Fund

I

(a)

749,991‌

12,345‌

Origin

Emerging

Markets

Fund

(a)

648,954‌

6,288‌

SmallCap

Growth

Fund

I

(a),(b)

277,798‌

3,684‌

SmallCap

Value

Fund

II

(a)

340,167‌

3,895‌

$

297,338‌

Principal

Funds,

Inc.

Institutional

Class

-

44

.50

%

Equity

Income

Fund

(a)

504,659‌

18,708‌

High

Income

Fund

(a)

4,355,093‌

35,233‌

Inflation

Protection

Fund

(a)

4,391,768‌

34,387‌

LargeCap

S&P

500

Index

Fund

(a)

874,875‌

17,909‌

LargeCap

Value

Fund

III

(a)

1,035,240‌

18,220‌

MidCap

Growth

Fund

III

(a),(b)

784,846‌

8,751‌

Overseas

Fund

(a)

1,330,102‌

13,580‌

Short-Term

Income

Fund

(a)

7,864,810‌

91,625‌

$

238,413‌

TOTAL

INVESTMENT

COMPANIES

$

535,751‌

Total

Investments

$

535,751‌

Other

Assets

and

Liabilities

-  (0.01)%

(

71‌

)

TOTAL

NET

ASSETS

-

100.00%

$

535,680‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Fixed

Income

Funds

70

.18‌

%

Domestic

Equity

Funds

22

.78‌

%

International

Equity

Funds

4

.62‌

%

Specialty

Funds

2

.43‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

Principal

LifeTime

2010

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

165

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

18,188‌

$

185‌

$

1,730‌

$

17,993‌

Core

Fixed

Income

Fund

188,825‌

2,219‌

13,061‌

188,636‌

Diversified

International

Fund

20,994‌

3,025‌

1,153‌

26,065‌

Diversified

Real

Asset

Fund

12,672‌

1,132‌

564‌

13,029‌

Equity

Income

Fund

18,741‌

820‌

1,755‌

18,708‌

High

Income

Fund

36,023‌

846‌

2,617‌

35,233‌

Inflation

Protection

Fund

37,623‌

2,188‌

4,480‌

34,387‌

International

Small

Company

Fund

3,874‌

564‌

215‌

4,864‌

LargeCap

Growth

Fund

I

18,129‌

1,760‌

1,708‌

17,436‌

LargeCap

S&P

500

Index

Fund

18,587‌

564‌

1,737‌

17,909‌

LargeCap

Value

Fund

III

18,885‌

1,727‌

1,752‌

18,220‌

MidCap

Fund

2,964‌

104‌

147‌

3,103‌

MidCap

Growth

Fund

III

8,483‌

184‌

362‌

8,751‌

MidCap

Value

Fund

I

11,861‌

843‌

497‌

12,345‌

Origin

Emerging

Markets

Fund

4,957‌

831‌

283‌

6,288‌

Overseas

Fund

10,158‌

2,318‌

486‌

13,580‌

Short-Term

Income

Fund

83,472‌

10,070‌

3,876‌

91,625‌

SmallCap

Growth

Fund

I

3,624‌

45‌

181‌

3,684‌

SmallCap

Value

Fund

II

3,767‌

404‌

180‌

3,895‌

$

521,827‌

$

29,829‌

$

36,784‌

$

535,751‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

539‌

$

118‌

$

811‌

Core

Fixed

Income

Fund

1,473‌

(

538‌

)

—‌

11,191‌

Diversified

International

Fund

272‌

(

95‌

)

—‌

3,294‌

Diversified

Real

Asset

Fund

344‌

(

28‌

)

735‌

(

183‌

)

Equity

Income

Fund

110‌

(

8‌

)

642‌

910‌

High

Income

Fund

708‌

(

340‌

)

—‌

1,321‌

Inflation

Protection

Fund

2,049‌

88‌

—‌

(

1,032‌

)

International

Small

Company

Fund

58‌

(

2‌

)

—‌

643‌

LargeCap

Growth

Fund

I

—‌

(

332‌

)

1,693‌

(

413‌

)

LargeCap

S&P

500

Index

Fund

262‌

(

146‌

)

235‌

641‌

LargeCap

Value

Fund

III

295‌

50‌

1,365‌

(

690‌

)

MidCap

Fund

—‌

36‌

90‌

146‌

MidCap

Growth

Fund

III

—‌

17‌

150‌

429‌

MidCap

Value

Fund

I

174‌

—‌

623‌

138‌

Origin

Emerging

Markets

Fund

174‌

10‌

—‌

773‌

Overseas

Fund

309‌

20‌

656‌

1,570‌

Short-Term

Income

Fund

604‌

(

58‌

)

—‌

2,017‌

SmallCap

Growth

Fund

I

—‌

51‌

28‌

145‌

SmallCap

Value

Fund

II

102‌

34‌

286‌

(

130‌

)

$

6,934‌

$

(

702‌

)

$

6,621‌

$

21,581‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2015

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

166

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

56

.08

%

Blue

Chip

Fund

(a),(b)

328,069‌

$

10,072‌

Core

Fixed

Income

Fund

(a)

10,825,672‌

93,967‌

Diversified

International

Fund

(a)

1,169,482‌

14,396‌

Diversified

Real

Asset

Fund

(a)

598,898‌

6,857‌

International

Small

Company

Fund

(a)

260,693‌

2,550‌

LargeCap

Growth

Fund

I

(a),(b)

683,116‌

9,755‌

MidCap

Fund

(a),(b)

51,457‌

1,743‌

MidCap

Value

Fund

I

(a)

414,726‌

6,826‌

Origin

Emerging

Markets

Fund

(a)

369,839‌

3,584‌

SmallCap

Growth

Fund

I

(a),(b)

147,485‌

1,956‌

SmallCap

Value

Fund

II

(a)

181,134‌

2,074‌

$

153,780‌

Principal

Funds,

Inc.

Institutional

Class

-

43

.93

%

Equity

Income

Fund

(a)

282,839‌

10,485‌

High

Income

Fund

(a)

2,142,103‌

17,330‌

Inflation

Protection

Fund

(a)

2,159,673‌

16,910‌

LargeCap

S&P

500

Index

Fund

(a)

491,380‌

10,058‌

LargeCap

Value

Fund

III

(a)

580,122‌

10,210‌

MidCap

Growth

Fund

III

(a),(b)

431,320‌

4,809‌

Overseas

Fund

(a)

760,807‌

7,768‌

Short-Term

Income

Fund

(a)

3,683,705‌

42,915‌

$

120,485‌

TOTAL

INVESTMENT

COMPANIES

$

274,265‌

Total

Investments

$

274,265‌

Other

Assets

and

Liabilities

-  (0.01)%

(

23‌

)

TOTAL

NET

ASSETS

-

100.00%

$

274,242‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Fixed

Income

Funds

67

.65‌

%

Domestic

Equity

Funds

24

.79‌

%

International

Equity

Funds

5

.07‌

%

Specialty

Funds

2

.50‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

Principal

LifeTime

2015

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

167

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

10,345‌

$

105‌

$

1,139‌

$

10,072‌

Core

Fixed

Income

Fund

93,035‌

1,266‌

5,579‌

93,967‌

Diversified

International

Fund

11,780‌

1,722‌

892‌

14,396‌

Diversified

Real

Asset

Fund

6,769‌

600‌

402‌

6,857‌

Equity

Income

Fund

10,664‌

463‌

1,154‌

10,485‌

High

Income

Fund

18,011‌

420‌

1,589‌

17,330‌

Inflation

Protection

Fund

18,723‌

1,086‌

2,429‌

16,910‌

International

Small

Company

Fund

2,066‌

305‌

161‌

2,550‌

LargeCap

Growth

Fund

I

10,311‌

992‌

1,127‌

9,755‌

LargeCap

S&P

500

Index

Fund

10,582‌

317‌

1,122‌

10,058‌

LargeCap

Value

Fund

III

10,747‌

975‌

1,154‌

10,210‌

MidCap

Fund

1,694‌

59‌

114‌

1,743‌

MidCap

Growth

Fund

III

4,733‌

101‌

272‌

4,809‌

MidCap

Value

Fund

I

6,663‌

470‌

385‌

6,826‌

Origin

Emerging

Markets

Fund

2,865‌

485‌

217‌

3,584‌

Overseas

Fund

5,883‌

1,353‌

386‌

7,768‌

Short-Term

Income

Fund

42,188‌

2,290‌

2,523‌

42,915‌

SmallCap

Growth

Fund

I

1,978‌

25‌

150‌

1,956‌

SmallCap

Value

Fund

II

2,059‌

219‌

152‌

2,074‌

$

271,096‌

$

13,253‌

$

20,947‌

$

274,265‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

478‌

$

66‌

$

283‌

Core

Fixed

Income

Fund

732‌

(

305‌

)

—‌

5,550‌

Diversified

International

Fund

152‌

132‌

—‌

1,654‌

Diversified

Real

Asset

Fund

183‌

1‌

389‌

(

111‌

)

Equity

Income

Fund

62‌

212‌

363‌

300‌

High

Income

Fund

351‌

(

203‌

)

—‌

691‌

Inflation

Protection

Fund

1,017‌

53‌

—‌

(

523‌

)

International

Small

Company

Fund

31‌

(

2‌

)

—‌

342‌

LargeCap

Growth

Fund

I

—‌

(

134‌

)

954‌

(

287‌

)

LargeCap

S&P

500

Index

Fund

148‌

(

103‌

)

133‌

384‌

LargeCap

Value

Fund

III

167‌

212‌

770‌

(

570‌

)

MidCap

Fund

—‌

31‌

51‌

73‌

MidCap

Growth

Fund

III

—‌

15‌

83‌

232‌

MidCap

Value

Fund

I

97‌

(

1‌

)

347‌

79‌

Origin

Emerging

Markets

Fund

100‌

7‌

—‌

444‌

Overseas

Fund

178‌

27‌

378‌

891‌

Short-Term

Income

Fund

292‌

(

26‌

)

—‌

986‌

SmallCap

Growth

Fund

I

—‌

72‌

15‌

31‌

SmallCap

Value

Fund

II

55‌

31‌

154‌

(

83‌

)

$

3,565‌

$

497‌

$

3,703‌

$

10,366‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2020

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

168

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

58

.40

%

Blue

Chip

Fund

(a),(b)

3,881,469‌

$

119,161‌

Core

Fixed

Income

Fund

(a)

102,146,881‌

886,635‌

Diversified

International

Fund

(a)

13,935,485‌

171,546‌

Diversified

Real

Asset

Fund

(a)

5,652,525‌

64,721‌

International

Small

Company

Fund

(a)

3,270,320‌

31,984‌

LargeCap

Growth

Fund

I

(a),(b)

8,085,155‌

115,456‌

MidCap

Fund

(a),(b)

606,579‌

20,551‌

MidCap

Value

Fund

I

(a)

4,945,607‌

81,405‌

Origin

Emerging

Markets

Fund

(a)

4,298,444‌

41,652‌

SmallCap

Growth

Fund

I

(a),(b)

1,782,442‌

23,635‌

SmallCap

Value

Fund

II

(a)

2,184,488‌

25,012‌

$

1,581,758‌

Principal

Funds,

Inc.

Institutional

Class

-

41

.61

%

Equity

Income

Fund

(a)

3,343,335‌

123,938‌

High

Income

Fund

(a)

18,800,035‌

152,092‌

Inflation

Protection

Fund

(a)

18,955,453‌

148,421‌

LargeCap

S&P

500

Index

Fund

(a)

5,807,495‌

118,880‌

LargeCap

Value

Fund

III

(a)

6,856,885‌

120,681‌

MidCap

Growth

Fund

III

(a),(b)

5,165,690‌

57,598‌

Overseas

Fund

(a)

8,847,818‌

90,336‌

Short-Term

Income

Fund

(a)

27,052,558‌

315,162‌

$

1,127,108‌

TOTAL

INVESTMENT

COMPANIES

$

2,708,866‌

Total

Investments

$

2,708,866‌

Other

Assets

and

Liabilities

-  (0.01)%

(

302‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,708,564‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Fixed

Income

Funds

61

.80‌

%

Domestic

Equity

Funds

29

.77‌

%

International

Equity

Funds

6

.05‌

%

Specialty

Funds

2

.39‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

Principal

LifeTime

2020

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

169

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

120,566‌

$

799‌

$

11,165‌

$

119,161‌

Core

Fixed

Income

Fund

863,447‌

11,857‌

37,614‌

886,635‌

Diversified

International

Fund

139,183‌

18,661‌

7,510‌

171,546‌

Diversified

Real

Asset

Fund

63,199‌

5,418‌

2,823‌

64,721‌

Equity

Income

Fund

124,239‌

5,036‌

11,305‌

123,938‌

High

Income

Fund

155,956‌

3,089‌

11,210‌

152,092‌

Inflation

Protection

Fund

162,803‌

8,930‌

19,194‌

148,421‌

International

Small

Company

Fund

25,671‌

3,480‌

1,412‌

31,984‌

LargeCap

Growth

Fund

I

120,172‌

11,314‌

11,018‌

115,456‌

LargeCap

S&P

500

Index

Fund

123,265‌

3,334‌

10,992‌

118,880‌

LargeCap

Value

Fund

III

125,197‌

11,093‌

11,307‌

120,681‌

MidCap

Fund

19,753‌

607‌

1,018‌

20,551‌

MidCap

Growth

Fund

III

55,970‌

1,001‌

2,315‌

57,598‌

MidCap

Value

Fund

I

78,478‌

5,305‌

3,275‌

81,405‌

Origin

Emerging

Markets

Fund

33,034‌

5,201‌

1,808‌

41,652‌

Overseas

Fund

68,036‌

14,872‌

3,219‌

90,336‌

Short-Term

Income

Fund

306,360‌

14,934‌

13,155‌

315,162‌

SmallCap

Growth

Fund

I

23,491‌

186‌

1,299‌

23,635‌

SmallCap

Value

Fund

II

24,425‌

2,525‌

1,299‌

25,012‌

$

2,633,245‌

$

127,642‌

$

162,938‌

$

2,708,866‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

4,000‌

$

787‌

$

4,961‌

Core

Fixed

Income

Fund

6,880‌

(

1,678‌

)

—‌

50,623‌

Diversified

International

Fund

1,805‌

3‌

—‌

21,209‌

Diversified

Real

Asset

Fund

1,725‌

13‌

3,685‌

(

1,086‌

)

Equity

Income

Fund

737‌

3,963‌

4,287‌

2,005‌

High

Income

Fund

3,072‌

(

1,118‌

)

—‌

5,375‌

Inflation

Protection

Fund

8,913‌

131‌

—‌

(

4,249‌

)

International

Small

Company

Fund

388‌

(

29‌

)

—‌

4,274‌

LargeCap

Growth

Fund

I

—‌

(

1,813‌

)

11,301‌

(

3,199‌

)

LargeCap

S&P

500

Index

Fund

1,749‌

(

912‌

)

1,573‌

4,185‌

LargeCap

Value

Fund

III

1,971‌

2,501‌

9,110‌

(

6,803‌

)

MidCap

Fund

—‌

228‌

604‌

981‌

MidCap

Growth

Fund

III

—‌

123‌

995‌

2,819‌

MidCap

Value

Fund

I

1,155‌

(

1‌

)

4,142‌

898‌

Origin

Emerging

Markets

Fund

1,160‌

59‌

—‌

5,166‌

Overseas

Fund

2,068‌

107‌

4,397‌

10,540‌

Short-Term

Income

Fund

2,138‌

52‌

—‌

6,971‌

SmallCap

Growth

Fund

I

—‌

415‌

183‌

842‌

SmallCap

Value

Fund

II

663‌

212‌

1,859‌

(

851‌

)

$

34,424‌

$

6,256‌

$

42,923‌

$

104,661‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2025

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

170

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

60

.73

%

Blue

Chip

Fund

(a),(b)

2,748,581‌

$

84,381‌

Core

Fixed

Income

Fund

(a)

56,201,013‌

487,825‌

Diversified

International

Fund

(a)

9,891,502‌

121,764‌

Diversified

Real

Asset

Fund

(a)

3,778,632‌

43,265‌

International

Small

Company

Fund

(a)

2,234,158‌

21,850‌

LargeCap

Growth

Fund

I

(a),(b)

5,729,123‌

81,812‌

MidCap

Fund

(a),(b)

421,715‌

14,288‌

MidCap

Value

Fund

I

(a)

3,401,530‌

55,989‌

Origin

Emerging

Markets

Fund

(a)

2,979,078‌

28,867‌

SmallCap

Growth

Fund

I

(a),(b)

1,277,262‌

16,937‌

SmallCap

Value

Fund

II

(a)

1,562,534‌

17,891‌

$

974,869‌

Principal

Funds,

Inc.

Institutional

Class

-

39

.28

%

Equity

Income

Fund

(a)

2,363,851‌

87,628‌

High

Income

Fund

(a)

9,757,697‌

78,940‌

Inflation

Protection

Fund

(a)

9,643,353‌

75,507‌

LargeCap

S&P

500

Index

Fund

(a)

4,103,818‌

84,005‌

LargeCap

Value

Fund

III

(a)

4,849,289‌

85,348‌

MidCap

Growth

Fund

III

(a),(b)

3,549,116‌

39,573‌

Overseas

Fund

(a)

6,225,183‌

63,559‌

Short-Term

Income

Fund

(a)

9,949,290‌

115,909‌

$

630,469‌

TOTAL

INVESTMENT

COMPANIES

$

1,605,338‌

Total

Investments

$

1,605,338‌

Other

Assets

and

Liabilities

-  (0.01)%

(

94‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,605,244‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Fixed

Income

Funds

54

.82‌

%

Domestic

Equity

Funds

35

.38‌

%

International

Equity

Funds

7

.12‌

%

Specialty

Funds

2

.69‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

Principal

LifeTime

2025

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

171

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

81,795‌

$

1,617‌

$

5,296‌

$

84,381‌

Core

Fixed

Income

Fund

466,788‌

10,371‌

15,978‌

487,825‌

Diversified

International

Fund

100,199‌

10,385‌

3,987‌

121,764‌

Diversified

Real

Asset

Fund

41,124‌

4,104‌

1,246‌

43,265‌

Equity

Income

Fund

84,282‌

4,576‌

5,348‌

87,628‌

High

Income

Fund

79,045‌

2,645‌

4,931‌

78,940‌

Inflation

Protection

Fund

79,852‌

5,545‌

7,757‌

75,507‌

International

Small

Company

Fund

17,778‌

1,879‌

722‌

21,850‌

LargeCap

Growth

Fund

I

81,527‌

8,976‌

5,231‌

81,812‌

LargeCap

S&P

500

Index

Fund

83,596‌

3,347‌

5,216‌

84,005‌

LargeCap

Value

Fund

III

84,928‌

8,814‌

5,355‌

85,348‌

MidCap

Fund

13,328‌

626‌

497‌

14,288‌

MidCap

Growth

Fund

III

37,565‌

1,187‌

1,195‌

39,573‌

MidCap

Value

Fund

I

52,735‌

4,326‌

1,695‌

55,989‌

Origin

Emerging

Markets

Fund

23,223‌

2,937‌

947‌

28,867‌

Overseas

Fund

48,732‌

8,904‌

1,694‌

63,559‌

Short-Term

Income

Fund

106,527‌

10,521‌

3,640‌

115,909‌

SmallCap

Growth

Fund

I

16,305‌

427‌

697‌

16,937‌

SmallCap

Value

Fund

II

16,952‌

2,075‌

698‌

17,891‌

$

1,516,281‌

$

93,262‌

$

72,130‌

$

1,605,338‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

205‌

)

$

550‌

$

6,470‌

Core

Fixed

Income

Fund

3,746‌

(

97‌

)

—‌

26,741‌

Diversified

International

Fund

1,271‌

45‌

—‌

15,122‌

Diversified

Real

Asset

Fund

1,142‌

—‌

2,429‌

(

717‌

)

Equity

Income

Fund

517‌

(

9‌

)

2,992‌

4,127‌

High

Income

Fund

1,578‌

(

61‌

)

—‌

2,242‌

Inflation

Protection

Fund

4,500‌

(

9‌

)

—‌

(

2,124‌

)

International

Small

Company

Fund

262‌

(

6‌

)

—‌

2,921‌

LargeCap

Growth

Fund

I

—‌

2‌

7,909‌

(

3,462‌

)

LargeCap

S&P

500

Index

Fund

1,224‌

(

254‌

)

1,099‌

2,532‌

LargeCap

Value

Fund

III

1,379‌

1‌

6,369‌

(

3,040‌

)

MidCap

Fund

—‌

12‌

413‌

819‌

MidCap

Growth

Fund

III

—‌

34‌

675‌

1,982‌

MidCap

Value

Fund

I

786‌

(

15‌

)

2,815‌

638‌

Origin

Emerging

Markets

Fund

798‌

16‌

—‌

3,638‌

Overseas

Fund

1,446‌

4‌

3,061‌

7,613‌

Short-Term

Income

Fund

767‌

5‌

—‌

2,496‌

SmallCap

Growth

Fund

I

—‌

(

1‌

)

129‌

903‌

SmallCap

Value

Fund

II

467‌

36‌

1,309‌

(

474‌

)

$

19,883‌

$

(

502‌

)

$

29,750‌

$

68,427‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2030

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

172

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

69

.04

%

Blue

Chip

Fund

(a),(b)

10,787,616‌

$

331,180‌

Core

Fixed

Income

Fund

(a)

208,858,448‌

1,812,891‌

Diversified

International

Fund

(a)

38,652,853‌

475,817‌

International

Small

Company

Fund

(a)

9,073,481‌

88,739‌

LargeCap

Growth

Fund

I

(a),(b)

22,489,247‌

321,146‌

MidCap

Fund

(a),(b)

1,659,587‌

56,227‌

MidCap

Value

Fund

I

(a)

13,384,369‌

220,307‌

Origin

Emerging

Markets

Fund

(a)

11,773,933‌

114,089‌

Real

Estate

Securities

Fund

(a)

4,762,685‌

132,831‌

SmallCap

Growth

Fund

I

(a),(b)

5,020,613‌

66,573‌

SmallCap

Value

Fund

II

(a)

6,142,793‌

70,335‌

$

3,690,135‌

Principal

Funds,

Inc.

Institutional

Class

-

30

.97

%

Equity

Income

Fund

(a)

9,272,117‌

343,717‌

High

Income

Fund

(a)

30,134,369‌

243,787‌

LargeCap

S&P

500

Index

Fund

(a)

16,093,456‌

329,433‌

LargeCap

Value

Fund

III

(a)

19,028,437‌

334,901‌

MidCap

Growth

Fund

III

(a),(b)

13,969,921‌

155,765‌

Overseas

Fund

(a)

24,299,060‌

248,093‌

$

1,655,696‌

TOTAL

INVESTMENT

COMPANIES

$

5,345,831‌

Total

Investments

$

5,345,831‌

Other

Assets

and

Liabilities

-  (0.01)%

(

503‌

)

TOTAL

NET

ASSETS

-

100.00%

$

5,345,328‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Fixed

Income

Funds

47

.38‌

%

Domestic

Equity

Funds

44

.20‌

%

International

Equity

Funds

8

.43‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

319,075‌

$

3,184‌

$

15,604‌

$

331,180‌

Core

Fixed

Income

Fund

1,718,416‌

26,951‌

30,782‌

1,812,891‌

Diversified

International

Fund

390,943‌

34,003‌

8,321‌

475,817‌

Equity

Income

Fund

328,766‌

14,752‌

15,906‌

343,717‌

High

Income

Fund

242,479‌

5,676‌

11,079‌

243,787‌

International

Small

Company

Fund

72,072‌

6,395‌

1,548‌

88,739‌

LargeCap

Growth

Fund

I

318,030‌

31,977‌

15,365‌

321,146‌

LargeCap

S&P

500

Index

Fund

326,078‌

10,115‌

15,678‌

329,433‌

LargeCap

Value

Fund

III

331,292‌

31,338‌

15,826‌

334,901‌

MidCap

Fund

52,195‌

1,830‌

1,062‌

56,227‌

MidCap

Growth

Fund

III

147,208‌

3,152‌

2,523‌

155,765‌

MidCap

Value

Fund

I

206,605‌

14,839‌

3,586‌

220,307‌

Origin

Emerging

Markets

Fund

91,634‌

10,021‌

1,993‌

114,089‌

Overseas

Fund

190,082‌

31,818‌

3,542‌

248,093‌

Real

Estate

Securities

Fund

121,874‌

2,364‌

2,215‌

132,831‌

SmallCap

Growth

Fund

I

63,738‌

804‌

1,505‌

66,573‌

SmallCap

Value

Fund

II

66,258‌

7,246‌

1,460‌

70,335‌

$

4,986,745‌

$

236,465‌

$

147,995‌

$

5,345,831‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

149‌

$

2,152‌

$

24,376‌

Core

Fixed

Income

Fund

13,855‌

(

32‌

)

—‌

98,338‌

Diversified

International

Fund

4,940‌

187‌

—‌

59,005‌

Equity

Income

Fund

2,018‌

(

185‌

)

11,702‌

16,290‌

High

Income

Fund

4,855‌

(

180‌

)

—‌

6,891‌

International

Small

Company

Fund

1,061‌

(

16‌

)

—‌

11,836‌

LargeCap

Growth

Fund

I

—‌

416‌

30,944‌

(

13,912‌

)

LargeCap

S&P

500

Index

Fund

4,783‌

(

1,209‌

)

4,299‌

10,127‌

LargeCap

Value

Fund

III

5,391‌

1,269‌

24,913‌

(

13,172‌

)

MidCap

Fund

—‌

(

51‌

)

1,618‌

3,315‌

MidCap

Growth

Fund

III

—‌

88‌

2,649‌

7,840‌

MidCap

Value

Fund

I

3,080‌

17‌

11,044‌

2,432‌

Origin

Emerging

Markets

Fund

3,136‌

50‌

—‌

14,377‌

Overseas

Fund

5,619‌

63‌

11,916‌

29,672‌

Real

Estate

Securities

Fund

709‌

(

54‌

)

1,213‌

10,862‌

SmallCap

Growth

Fund

I

—‌

189‌

504‌

3,347‌

SmallCap

Value

Fund

II

1,830‌

127‌

5,125‌

(

1,836‌

)

$

51,277‌

$

828‌

$

108,079‌

$

269,788‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2035

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

173

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

65

.58

%

Blue

Chip

Fund

(a),(b)

3,895,472‌

$

119,591‌

Core

Fixed

Income

Fund

(a)

47,099,464‌

408,823‌

Diversified

International

Fund

(a)

14,101,476‌

173,589‌

International

Small

Company

Fund

(a)

3,207,632‌

31,371‌

LargeCap

Growth

Fund

I

(a),(b)

8,124,445‌

116,017‌

MidCap

Fund

(a),(b)

745,544‌

25,259‌

MidCap

Value

Fund

I

(a)

4,924,373‌

81,055‌

Origin

Emerging

Markets

Fund

(a)

4,209,157‌

40,787‌

Real

Estate

Securities

Fund

(a)

1,481,420‌

41,317‌

SmallCap

Growth

Fund

I

(a),(b)

1,870,401‌

24,802‌

SmallCap

Value

Fund

II

(a)

2,283,781‌

26,149‌

$

1,088,760‌

Principal

Funds,

Inc.

Institutional

Class

-

34

.43

%

Equity

Income

Fund

(a)

3,345,401‌

124,014‌

High

Income

Fund

(a)

8,013,820‌

64,832‌

LargeCap

S&P

500

Index

Fund

(a)

5,809,509‌

118,921‌

LargeCap

Value

Fund

III

(a)

6,865,858‌

120,839‌

MidCap

Growth

Fund

III

(a),(b)

4,703,259‌

52,441‌

Overseas

Fund

(a)

8,873,163‌

90,595‌

$

571,642‌

TOTAL

INVESTMENT

COMPANIES

$

1,660,402‌

Total

Investments

$

1,660,402‌

Other

Assets

and

Liabilities

-  (0.01)%

(

89‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,660,313‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

51

.22‌

%

Fixed

Income

Funds

38

.98‌

%

International

Equity

Funds

9

.81‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

112,828‌

$

3,129‌

$

5,184‌

$

119,591‌

Core

Fixed

Income

Fund

380,023‌

13,503‌

6,625‌

408,823‌

Diversified

International

Fund

140,514‌

14,512‌

2,881‌

173,589‌

Equity

Income

Fund

116,253‌

7,279‌

5,273‌

124,014‌

High

Income

Fund

63,194‌

2,649‌

2,785‌

64,832‌

International

Small

Company

Fund

25,097‌

2,646‌

521‌

31,371‌

LargeCap

Growth

Fund

I

112,458‌

13,462‌

5,108‌

116,017‌

LargeCap

S&P

500

Index

Fund

115,311‌

5,582‌

5,182‌

118,921‌

LargeCap

Value

Fund

III

117,147‌

13,226‌

5,256‌

120,839‌

MidCap

Fund

22,967‌

1,199‌

365‌

25,259‌

MidCap

Growth

Fund

III

48,615‌

2,031‌

874‌

52,441‌

MidCap

Value

Fund

I

74,607‌

6,768‌

1,226‌

81,055‌

Origin

Emerging

Markets

Fund

32,265‌

4,096‌

690‌

40,787‌

Overseas

Fund

68,597‌

12,435‌

1,239‌

90,595‌

Real

Estate

Securities

Fund

37,163‌

1,450‌

652‌

41,317‌

SmallCap

Growth

Fund

I

23,133‌

852‌

508‌

24,802‌

SmallCap

Value

Fund

II

24,048‌

3,212‌

496‌

26,149‌

$

1,514,220‌

$

108,031‌

$

44,865‌

$

1,660,402‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

30‌

$

772‌

$

8,788‌

Core

Fixed

Income

Fund

3,100‌

7‌

—‌

21,915‌

Diversified

International

Fund

1,794‌

(

1‌

)

—‌

21,445‌

Equity

Income

Fund

725‌

(

12‌

)

4,196‌

5,767‌

High

Income

Fund

1,282‌

14‌

—‌

1,760‌

International

Small

Company

Fund

373‌

(

2‌

)

—‌

4,151‌

LargeCap

Growth

Fund

I

—‌

(

40‌

)

11,104‌

(

4,755‌

)

LargeCap

S&P

500

Index

Fund

1,717‌

(

84‌

)

1,542‌

3,294‌

LargeCap

Value

Fund

III

1,935‌

28‌

8,934‌

(

4,306‌

)

MidCap

Fund

—‌

1‌

721‌

1,457‌

MidCap

Growth

Fund

III

—‌

(

1‌

)

886‌

2,670‌

MidCap

Value

Fund

I

1,126‌

5‌

4,036‌

901‌

Origin

Emerging

Markets

Fund

1,116‌

(

4‌

)

—‌

5,120‌

Overseas

Fund

2,045‌

1‌

4,325‌

10,801‌

Real

Estate

Securities

Fund

220‌

—‌

376‌

3,356‌

SmallCap

Growth

Fund

I

—‌

2‌

186‌

1,323‌

SmallCap

Value

Fund

II

674‌

2‌

1,888‌

(

617‌

)

$

16,107‌

$

(

54‌

)

$

38,966‌

$

83,070‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2040

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

174

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

61

.67

%

Blue

Chip

Fund

(a),(b)

11,328,524‌

$

347,786‌

Core

Fixed

Income

Fund

(a)

69,506,777‌

603,319‌

Diversified

International

Fund

(a)

40,558,811‌

499,279‌

International

Small

Company

Fund

(a)

9,383,577‌

91,771‌

LargeCap

Growth

Fund

I

(a),(b)

23,620,349‌

337,299‌

MidCap

Fund

(a),(b)

2,126,489‌

72,045‌

MidCap

Value

Fund

I

(a)

14,027,140‌

230,887‌

Origin

Emerging

Markets

Fund

(a)

12,418,828‌

120,338‌

Real

Estate

Securities

Fund

(a)

3,716,717‌

103,659‌

SmallCap

Growth

Fund

I

(a),(b)

5,264,966‌

69,814‌

SmallCap

Value

Fund

II

(a)

6,434,501‌

73,675‌

$

2,549,872‌

Principal

Funds,

Inc.

Institutional

Class

-

38

.34

%

Equity

Income

Fund

(a)

9,730,857‌

360,723‌

High

Income

Fund

(a)

14,593,599‌

118,062‌

LargeCap

S&P

500

Index

Fund

(a)

16,899,520‌

345,933‌

LargeCap

Value

Fund

III

(a)

19,972,469‌

351,515‌

MidCap

Growth

Fund

III

(a),(b)

13,380,463‌

149,192‌

Overseas

Fund

(a)

25,479,486‌

260,146‌

$

1,585,571‌

TOTAL

INVESTMENT

COMPANIES

$

4,135,443‌

Total

Investments

$

4,135,443‌

Other

Assets

and

Liabilities

-  (0.01)%

(

392‌

)

TOTAL

NET

ASSETS

-

100.00%

$

4,135,051‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

59

.07‌

%

Fixed

Income

Funds

29

.52‌

%

International

Equity

Funds

11

.42‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

329,949‌

$

4,619‌

$

12,435‌

$

347,786‌

Core

Fixed

Income

Fund

568,208‌

12,018‌

9,501‌

603,319‌

Diversified

International

Fund

416,387‌

28,274‌

8,060‌

499,279‌

Equity

Income

Fund

339,942‌

16,691‌

12,656‌

360,723‌

High

Income

Fund

116,421‌

3,205‌

4,805‌

118,062‌

International

Small

Company

Fund

75,648‌

5,278‌

1,475‌

91,771‌

LargeCap

Growth

Fund

I

328,868‌

34,772‌

12,265‌

337,299‌

LargeCap

S&P

500

Index

Fund

337,168‌

11,815‌

12,361‌

345,933‌

LargeCap

Value

Fund

III

342,546‌

34,088‌

12,591‌

351,515‌

MidCap

Fund

66,360‌

2,546‌

1,035‌

72,045‌

MidCap

Growth

Fund

III

140,336‌

3,641‌

2,384‌

149,192‌

MidCap

Value

Fund

I

215,374‌

16,348‌

3,417‌

230,887‌

Origin

Emerging

Markets

Fund

98,093‌

8,810‌

1,945‌

120,338‌

Overseas

Fund

202,456‌

29,534‌

3,449‌

260,146‌

Real

Estate

Securities

Fund

94,570‌

2,227‌

1,569‌

103,659‌

SmallCap

Growth

Fund

I

66,311‌

1,168‌

1,379‌

69,814‌

SmallCap

Value

Fund

II

68,922‌

7,898‌

1,379‌

73,675‌

$

3,807,559‌

$

222,932‌

$

102,706‌

$

4,135,443‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

70‌

$

2,254‌

$

25,583‌

Core

Fixed

Income

Fund

4,598‌

37‌

—‌

32,557‌

Diversified

International

Fund

5,173‌

125‌

—‌

62,553‌

Equity

Income

Fund

2,114‌

(

28‌

)

12,255‌

16,774‌

High

Income

Fund

2,344‌

44‌

—‌

3,197‌

International

Small

Company

Fund

1,095‌

(

2‌

)

—‌

12,322‌

LargeCap

Growth

Fund

I

—‌

(

50‌

)

32,407‌

(

14,026‌

)

LargeCap

S&P

500

Index

Fund

5,007‌

(

728‌

)

4,502‌

10,039‌

LargeCap

Value

Fund

III

5,644‌

(

36‌

)

26,080‌

(

12,492‌

)

MidCap

Fund

—‌

2‌

2,064‌

4,172‌

MidCap

Growth

Fund

III

—‌

(

6‌

)

2,531‌

7,605‌

MidCap

Value

Fund

I

3,218‌

10‌

11,539‌

2,572‌

Origin

Emerging

Markets

Fund

3,301‌

24‌

—‌

15,356‌

Overseas

Fund

5,883‌

5‌

12,463‌

31,600‌

Real

Estate

Securities

Fund

552‌

2‌

945‌

8,429‌

SmallCap

Growth

Fund

I

—‌

56‌

526‌

3,658‌

SmallCap

Value

Fund

II

1,909‌

29‌

5,347‌

(

1,795‌

)

$

40,838‌

$

(

446‌

)

$

112,913‌

$

208,104‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2045

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

175

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

59

.24

%

Blue

Chip

Fund

(a),(b)

3,908,093‌

$

119,979‌

Core

Fixed

Income

Fund

(a)

11,240,407‌

97,567‌

Diversified

International

Fund

(a)

14,153,124‌

174,225‌

International

Small

Company

Fund

(a)

3,277,519‌

32,054‌

LargeCap

Growth

Fund

I

(a),(b)

8,152,561‌

116,419‌

MidCap

Fund

(a),(b)

745,046‌

25,242‌

MidCap

Value

Fund

I

(a)

4,919,644‌

80,977‌

Origin

Emerging

Markets

Fund

(a)

4,272,549‌

41,401‌

Real

Estate

Securities

Fund

(a)

1,166,477‌

32,533‌

SmallCap

Growth

Fund

I

(a),(b)

1,870,697‌

24,805‌

SmallCap

Value

Fund

II

(a)

2,282,350‌

26,133‌

$

771,335‌

Principal

Funds,

Inc.

Institutional

Class

-

40

.77

%

Equity

Income

Fund

(a)

3,353,751‌

124,323‌

High

Income

Fund

(a)

3,010,840‌

24,358‌

LargeCap

S&P

500

Index

Fund

(a)

5,826,010‌

119,258‌

LargeCap

Value

Fund

III

(a)

6,884,639‌

121,170‌

MidCap

Growth

Fund

III

(a),(b)

4,703,100‌

52,440‌

Overseas

Fund

(a)

8,745,748‌

89,294‌

$

530,843‌

TOTAL

INVESTMENT

COMPANIES

$

1,302,178‌

Total

Investments

$

1,302,178‌

Other

Assets

and

Liabilities

-  (0.01)%

(

70‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,302,108‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

64

.77‌

%

Fixed

Income

Funds

22

.74‌

%

International

Equity

Funds

12

.50‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

111,965‌

$

3,647‌

$

4,463‌

$

119,979‌

Core

Fixed

Income

Fund

90,062‌

3,799‌

1,499‌

97,567‌

Diversified

International

Fund

141,653‌

13,712‌

2,712‌

174,225‌

Equity

Income

Fund

115,348‌

7,758‌

4,548‌

124,323‌

High

Income

Fund

23,480‌

1,110‌

894‌

24,358‌

International

Small

Company

Fund

25,761‌

2,544‌

497‌

32,054‌

LargeCap

Growth

Fund

I

111,597‌

13,957‌

4,401‌

116,419‌

LargeCap

S&P

500

Index

Fund

114,405‌

6,081‌

4,456‌

119,258‌

LargeCap

Value

Fund

III

116,229‌

13,717‌

4,521‌

121,170‌

MidCap

Fund

22,822‌

1,312‌

353‌

25,242‌

MidCap

Growth

Fund

III

48,319‌

2,256‌

812‌

52,440‌

MidCap

Value

Fund

I

74,117‌

7,101‌

1,164‌

80,977‌

Origin

Emerging

Markets

Fund

32,895‌

3,959‌

659‌

41,401‌

Overseas

Fund

67,975‌

11,777‌

1,155‌

89,294‌

Real

Estate

Securities

Fund

29,096‌

1,276‌

478‌

32,533‌

SmallCap

Growth

Fund

I

22,969‌

977‌

469‌

24,805‌

SmallCap

Value

Fund

II

23,870‌

3,319‌

459‌

26,133‌

$

1,172,563‌

$

98,302‌

$

33,540‌

$

1,302,178‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

22‌

$

767‌

$

8,808‌

Core

Fixed

Income

Fund

736‌

(

1‌

)

—‌

5,206‌

Diversified

International

Fund

1,792‌

3‌

—‌

21,569‌

Equity

Income

Fund

723‌

(

10‌

)

4,168‌

5,775‌

High

Income

Fund

479‌

2‌

—‌

660‌

International

Small

Company

Fund

380‌

—‌

—‌

4,246‌

LargeCap

Growth

Fund

I

—‌

(

20‌

)

11,076‌

(

4,714‌

)

LargeCap

S&P

500

Index

Fund

1,711‌

(

112‌

)

1,538‌

3,340‌

LargeCap

Value

Fund

III

1,928‌

4‌

8,908‌

(

4,259‌

)

MidCap

Fund

—‌

—‌

713‌

1,461‌

MidCap

Growth

Fund

III

—‌

1‌

880‌

2,676‌

MidCap

Value

Fund

I

1,118‌

(

2‌

)

4,009‌

925‌

Origin

Emerging

Markets

Fund

1,127‌

(

1‌

)

—‌

5,207‌

Overseas

Fund

2,007‌

—‌

4,241‌

10,697‌

Real

Estate

Securities

Fund

172‌

—‌

294‌

2,639‌

SmallCap

Growth

Fund

I

—‌

1‌

185‌

1,327‌

SmallCap

Value

Fund

II

669‌

—‌

1,874‌

(

597‌

)

$

12,842‌

$

(

113‌

)

$

38,653‌

$

64,966‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2050

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

176

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

57

.67

%

Blue

Chip

Fund

(a),(b)

8,716,456‌

$

267,595‌

Core

Fixed

Income

Fund

(a)

10,019,342‌

86,968‌

Diversified

International

Fund

(a)

31,285,369‌

385,123‌

International

Small

Company

Fund

(a)

7,216,527‌

70,578‌

LargeCap

Growth

Fund

I

(a),(b)

18,177,568‌

259,576‌

MidCap

Fund

(a),(b)

1,647,083‌

55,803‌

MidCap

Value

Fund

I

(a)

10,874,581‌

178,995‌

Origin

Emerging

Markets

Fund

(a)

9,593,372‌

92,960‌

Real

Estate

Securities

Fund

(a)

2,464,482‌

68,734‌

SmallCap

Growth

Fund

I

(a),(b)

4,112,467‌

54,531‌

SmallCap

Value

Fund

II

(a)

5,021,828‌

57,500‌

$

1,578,363‌

Principal

Funds,

Inc.

Institutional

Class

-

42

.34

%

Equity

Income

Fund

(a)

7,483,827‌

277,425‌

High

Income

Fund

(a)

3,495,529‌

28,279‌

LargeCap

S&P

500

Index

Fund

(a)

12,997,593‌

266,061‌

LargeCap

Value

Fund

III

(a)

15,360,206‌

270,340‌

MidCap

Growth

Fund

III

(a),(b)

10,388,422‌

115,831‌

Overseas

Fund

(a)

19,670,736‌

200,838‌

$

1,158,774‌

TOTAL

INVESTMENT

COMPANIES

$

2,737,137‌

Total

Investments

$

2,737,137‌

Other

Assets

and

Liabilities

-  (0.01)%

(

258‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,736,879‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

68

.41‌

%

Fixed

Income

Funds

18

.28‌

%

International

Equity

Funds

13

.32‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

252,340‌

$

4,586‌

$

9,054‌

$

267,595‌

Core

Fixed

Income

Fund

81,230‌

2,219‌

1,152‌

86,968‌

Diversified

International

Fund

318,120‌

23,986‌

5,084‌

385,123‌

Equity

Income

Fund

259,937‌

13,843‌

9,231‌

277,425‌

High

Income

Fund

27,510‌

893‌

896‌

28,279‌

International

Small

Company

Fund

57,625‌

4,457‌

933‌

70,578‌

LargeCap

Growth

Fund

I

251,511‌

27,707‌

8,919‌

259,576‌

LargeCap

S&P

500

Index

Fund

257,832‌

10,151‌

9,094‌

266,061‌

LargeCap

Value

Fund

III

261,928‌

27,176‌

9,178‌

270,340‌

MidCap

Fund

51,048‌

2,183‌

661‌

55,803‌

MidCap

Growth

Fund

III

108,120‌

3,327‌

1,525‌

115,831‌

MidCap

Value

Fund

I

165,803‌

13,348‌

2,170‌

178,995‌

Origin

Emerging

Markets

Fund

75,057‌

7,329‌

1,236‌

92,960‌

Overseas

Fund

155,010‌

23,740‌

2,186‌

200,838‌

Real

Estate

Securities

Fund

62,246‌

1,750‌

847‌

68,734‌

SmallCap

Growth

Fund

I

51,302‌

1,216‌

897‌

54,531‌

SmallCap

Value

Fund

II

53,306‌

6,444‌

899‌

57,500‌

$

2,489,925‌

$

174,355‌

$

63,962‌

$

2,737,137‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

48‌

$

1,724‌

$

19,675‌

Core

Fixed

Income

Fund

660‌

3‌

—‌

4,668‌

Diversified

International

Fund

3,976‌

93‌

—‌

48,008‌

Equity

Income

Fund

1,620‌

(

20‌

)

9,373‌

12,896‌

High

Income

Fund

558‌

(

3‌

)

—‌

775‌

International

Small

Company

Fund

839‌

—‌

—‌

9,429‌

LargeCap

Growth

Fund

I

—‌

(

15‌

)

24,845‌

(

10,708‌

)

LargeCap

S&P

500

Index

Fund

3,839‌

(

559‌

)

3,450‌

7,731‌

LargeCap

Value

Fund

III

4,327‌

(

5‌

)

19,987‌

(

9,581‌

)

MidCap

Fund

—‌

3‌

1,590‌

3,230‌

MidCap

Growth

Fund

III

—‌

3‌

1,957‌

5,906‌

MidCap

Value

Fund

I

2,486‌

8‌

8,913‌

2,006‌

Origin

Emerging

Markets

Fund

2,541‌

10‌

—‌

11,800‌

Overseas

Fund

4,528‌

5‌

9,589‌

24,269‌

Real

Estate

Securities

Fund

365‌

—‌

624‌

5,585‌

SmallCap

Growth

Fund

I

—‌

14‌

409‌

2,896‌

SmallCap

Value

Fund

II

1,483‌

6‌

4,154‌

(

1,357‌

)

$

27,222‌

$

(

409‌

)

$

86,615‌

$

137,228‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2055

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

177

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

57

.72

%

Blue

Chip

Fund

(a),(b)

2,534,991‌

$

77,824‌

Core

Fixed

Income

Fund

(a)

2,930,290‌

25,435‌

Diversified

International

Fund

(a)

9,114,486‌

112,199‌

International

Small

Company

Fund

(a)

2,101,976‌

20,557‌

LargeCap

Growth

Fund

I

(a),(b)

5,289,099‌

75,528‌

MidCap

Fund

(a),(b)

478,704‌

16,219‌

MidCap

Value

Fund

I

(a)

3,161,626‌

52,040‌

Origin

Emerging

Markets

Fund

(a)

2,794,694‌

27,081‌

Real

Estate

Securities

Fund

(a)

712,333‌

19,867‌

SmallCap

Growth

Fund

I

(a),(b)

1,206,669‌

16,001‌

SmallCap

Value

Fund

II

(a)

1,471,090‌

16,844‌

$

459,595‌

Principal

Funds,

Inc.

Institutional

Class

-

42

.29

%

Equity

Income

Fund

(a)

2,172,898‌

80,549‌

High

Income

Fund

(a)

1,022,344‌

8,271‌

LargeCap

S&P

500

Index

Fund

(a)

3,778,477‌

77,346‌

LargeCap

Value

Fund

III

(a)

4,462,775‌

78,545‌

MidCap

Growth

Fund

III

(a),(b)

3,026,903‌

33,750‌

Overseas

Fund

(a)

5,706,595‌

58,264‌

$

336,725‌

TOTAL

INVESTMENT

COMPANIES

$

796,320‌

Total

Investments

$

796,320‌

Other

Assets

and

Liabilities

-  (0.01)%

(

45‌

)

TOTAL

NET

ASSETS

-

100.00%

$

796,275‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

68

.39‌

%

Fixed

Income

Funds

18

.32‌

%

International

Equity

Funds

13

.30‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

71,771‌

$

3,209‌

$

2,872‌

$

77,824‌

Core

Fixed

Income

Fund

23,218‌

1,319‌

454‌

25,435‌

Diversified

International

Fund

90,550‌

9,786‌

2,001‌

112,199‌

Equity

Income

Fund

73,925‌

5,831‌

2,919‌

80,549‌

High

Income

Fund

7,860‌

480‌

294‌

8,271‌

International

Small

Company

Fund

16,402‌

1,804‌

367‌

20,557‌

LargeCap

Growth

Fund

I

71,535‌

9,888‌

2,835‌

75,528‌

LargeCap

S&P

500

Index

Fund

73,330‌

4,817‌

2,883‌

77,346‌

LargeCap

Value

Fund

III

74,492‌

9,728‌

2,905‌

78,545‌

MidCap

Fund

14,522‌

1,020‌

258‌

16,219‌

MidCap

Growth

Fund

III

30,763‌

1,864‌

599‌

33,750‌

MidCap

Value

Fund

I

47,169‌

5,137‌

854‌

52,040‌

Origin

Emerging

Markets

Fund

21,365‌

2,805‌

487‌

27,081‌

Overseas

Fund

44,110‌

8,042‌

861‌

58,264‌

Real

Estate

Securities

Fund

17,583‌

1,006‌

333‌

19,867‌

SmallCap

Growth

Fund

I

14,612‌

883‌

353‌

16,001‌

SmallCap

Value

Fund

II

15,180‌

2,400‌

353‌

16,844‌

$

708,387‌

$

70,019‌

$

21,628‌

$

796,320‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

7‌

$

497‌

$

5,709‌

Core

Fixed

Income

Fund

191‌

(

1‌

)

—‌

1,353‌

Diversified

International

Fund

1,154‌

1‌

—‌

13,863‌

Equity

Income

Fund

468‌

(

5‌

)

2,696‌

3,717‌

High

Income

Fund

162‌

—‌

—‌

225‌

International

Small

Company

Fund

244‌

—‌

—‌

2,718‌

LargeCap

Growth

Fund

I

—‌

6‌

7,176‌

(

3,066‌

)

LargeCap

S&P

500

Index

Fund

1,108‌

7‌

996‌

2,075‌

LargeCap

Value

Fund

III

1,249‌

1‌

5,767‌

(

2,771‌

)

MidCap

Fund

—‌

—‌

458‌

935‌

MidCap

Growth

Fund

III

—‌

—‌

566‌

1,722‌

MidCap

Value

Fund

I

718‌

—‌

2,573‌

588‌

Origin

Emerging

Markets

Fund

738‌

—‌

—‌

3,398‌

Overseas

Fund

1,310‌

—‌

2,763‌

6,973‌

Real

Estate

Securities

Fund

105‌

—‌

180‌

1,611‌

SmallCap

Growth

Fund

I

—‌

—‌

119‌

859‌

SmallCap

Value

Fund

II

430‌

(

1‌

)

1,205‌

(

382‌

)

$

7,877‌

$

15‌

$

24,996‌

$

39,527‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2060

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

178

INVESTMENT

COMPANIES

-

100

.00

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

57

.72

%

Blue

Chip

Fund

(a),(b)

2,382,371‌

$

73,139‌

Core

Fixed

Income

Fund

(a)

2,753,660‌

23,902‌

Diversified

International

Fund

(a)

8,566,088‌

105,449‌

International

Small

Company

Fund

(a)

1,975,931‌

19,325‌

LargeCap

Growth

Fund

I

(a),(b)

4,970,753‌

70,982‌

MidCap

Fund

(a),(b)

449,806‌

15,239‌

MidCap

Value

Fund

I

(a)

2,971,066‌

48,904‌

Origin

Emerging

Markets

Fund

(a)

2,626,586‌

25,452‌

Real

Estate

Securities

Fund

(a)

668,855‌

18,654‌

SmallCap

Growth

Fund

I

(a),(b)

1,135,183‌

15,052‌

SmallCap

Value

Fund

II

(a)

1,383,694‌

15,843‌

$

431,941‌

Principal

Funds,

Inc.

Institutional

Class

-

42

.28

%

Equity

Income

Fund

(a)

2,042,418‌

75,713‌

High

Income

Fund

(a)

960,736‌

7,772‌

LargeCap

S&P

500

Index

Fund

(a)

3,550,717‌

72,683‌

LargeCap

Value

Fund

III

(a)

4,193,523‌

73,806‌

MidCap

Growth

Fund

III

(a),(b)

2,845,283‌

31,725‌

Overseas

Fund

(a)

5,361,918‌

54,745‌

$

316,444‌

TOTAL

INVESTMENT

COMPANIES

$

748,385‌

Total

Investments

$

748,385‌

Other

Assets

and

Liabilities

-  0.00%

(

34‌

)

TOTAL

NET

ASSETS

-

100.00%

$

748,351‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

68

.39‌

%

Fixed

Income

Funds

18

.32‌

%

International

Equity

Funds

13

.29‌

%

Other

Assets

and

Liabilities

0

.00‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

67,425‌

$

3,079‌

$

2,748‌

$

73,139‌

Core

Fixed

Income

Fund

21,813‌

1,266‌

448‌

23,902‌

Diversified

International

Fund

85,132‌

9,250‌

1,974‌

105,449‌

Equity

Income

Fund

69,445‌

5,566‌

2,792‌

75,713‌

High

Income

Fund

7,389‌

458‌

286‌

7,772‌

International

Small

Company

Fund

15,421‌

1,709‌

362‌

19,325‌

LargeCap

Growth

Fund

I

67,203‌

9,359‌

2,715‌

70,982‌

LargeCap

S&P

500

Index

Fund

68,887‌

4,591‌

2,758‌

72,683‌

LargeCap

Value

Fund

III

69,976‌

9,207‌

2,779‌

73,806‌

MidCap

Fund

13,643‌

972‌

256‌

15,239‌

MidCap

Growth

Fund

III

28,911‌

1,783‌

593‌

31,725‌

MidCap

Value

Fund

I

44,318‌

4,872‌

841‌

48,904‌

Origin

Emerging

Markets

Fund

20,084‌

2,654‌

480‌

25,452‌

Overseas

Fund

41,451‌

7,588‌

850‌

54,745‌

Real

Estate

Securities

Fund

16,506‌

962‌

329‌

18,654‌

SmallCap

Growth

Fund

I

13,743‌

848‌

349‌

15,052‌

SmallCap

Value

Fund

II

14,276‌

2,276‌

350‌

15,843‌

$

665,623‌

$

66,440‌

$

20,910‌

$

748,385‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

6‌

$

467‌

$

5,377‌

Core

Fixed

Income

Fund

180‌

—‌

—‌

1,271‌

Diversified

International

Fund

1,085‌

—‌

—‌

13,041‌

Equity

Income

Fund

440‌

(

5‌

)

2,536‌

3,499‌

High

Income

Fund

152‌

—‌

—‌

211‌

International

Small

Company

Fund

229‌

—‌

—‌

2,557‌

LargeCap

Growth

Fund

I

—‌

(

3‌

)

6,746‌

(

2,862‌

)

LargeCap

S&P

500

Index

Fund

1,042‌

2‌

936‌

1,961‌

LargeCap

Value

Fund

III

1,174‌

1‌

5,421‌

(

2,599‌

)

MidCap

Fund

—‌

—‌

430‌

880‌

MidCap

Growth

Fund

III

—‌

—‌

532‌

1,624‌

MidCap

Value

Fund

I

675‌

(

1‌

)

2,419‌

556‌

Origin

Emerging

Markets

Fund

693‌

—‌

—‌

3,194‌

Overseas

Fund

1,231‌

—‌

2,597‌

6,556‌

Real

Estate

Securities

Fund

99‌

—‌

169‌

1,515‌

SmallCap

Growth

Fund

I

—‌

—‌

112‌

810‌

SmallCap

Value

Fund

II

405‌

—‌

1,134‌

(

359‌

)

$

7,405‌

$

—‌

$

23,499‌

$

37,232‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

2065

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

179

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

57

.87

%

Blue

Chip

Fund

(a),(b)

361,677‌

$

11,103‌

Core

Fixed

Income

Fund

(a)

419,321‌

3,640‌

Diversified

International

Fund

(a)

1,306,972‌

16,089‌

International

Small

Company

Fund

(a)

301,365‌

2,947‌

LargeCap

Growth

Fund

I

(a),(b)

755,806‌

10,793‌

MidCap

Fund

(a),(b)

68,161‌

2,309‌

MidCap

Value

Fund

I

(a)

450,641‌

7,418‌

Origin

Emerging

Markets

Fund

(a)

400,599‌

3,882‌

Real

Estate

Securities

Fund

(a)

101,812‌

2,840‌

SmallCap

Growth

Fund

I

(a),(b)

176,488‌

2,340‌

SmallCap

Value

Fund

II

(a)

214,204‌

2,453‌

$

65,814‌

Principal

Funds,

Inc.

Institutional

Class

-

42

.14

%

Equity

Income

Fund

(a)

308,667‌

11,442‌

High

Income

Fund

(a)

146,305‌

1,184‌

LargeCap

S&P

500

Index

Fund

(a)

538,502‌

11,023‌

LargeCap

Value

Fund

III

(a)

634,903‌

11,174‌

MidCap

Growth

Fund

III

(a),(b)

434,284‌

4,842‌

Overseas

Fund

(a)

808,480‌

8,255‌

$

47,920‌

TOTAL

INVESTMENT

COMPANIES

$

113,734‌

Total

Investments

$

113,734‌

Other

Assets

and

Liabilities

-  (0.01)%

(

16‌

)

TOTAL

NET

ASSETS

-

100.00%

$

113,718‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

68

.36‌

%

Fixed

Income

Funds

18

.39‌

%

International

Equity

Funds

13

.26‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

9,601‌

$

1,133‌

$

440‌

$

11,103‌

Core

Fixed

Income

Fund

3,110‌

432‌

88‌

3,640‌

Diversified

International

Fund

12,148‌

2,399‌

385‌

16,089‌

Equity

Income

Fund

9,887‌

1,481‌

446‌

11,442‌

High

Income

Fund

1,053‌

147‌

48‌

1,184‌

International

Small

Company

Fund

2,201‌

439‌

72‌

2,947‌

LargeCap

Growth

Fund

I

9,570‌

2,060‌

436‌

10,793‌

LargeCap

S&P

500

Index

Fund

9,808‌

1,356‌

442‌

11,023‌

LargeCap

Value

Fund

III

9,962‌

2,035‌

444‌

11,174‌

MidCap

Fund

1,944‌

284‌

51‌

2,309‌

MidCap

Growth

Fund

III

4,121‌

588‌

116‌

4,842‌

MidCap

Value

Fund

I

6,314‌

1,180‌

164‌

7,418‌

Origin

Emerging

Markets

Fund

2,866‌

640‌

94‌

3,882‌

Overseas

Fund

5,910‌

1,549‌

165‌

8,255‌

Real

Estate

Securities

Fund

2,352‌

323‌

64‌

2,840‌

SmallCap

Growth

Fund

I

1,964‌

317‌

69‌

2,340‌

SmallCap

Value

Fund

II

2,039‌

530‌

68‌

2,453‌

$

94,850‌

$

16,893‌

$

3,592‌

$

113,734‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

1‌

)

$

68‌

$

810‌

Core

Fixed

Income

Fund

26‌

—‌

—‌

186‌

Diversified

International

Fund

161‌

—‌

—‌

1,927‌

Equity

Income

Fund

65‌

(

1‌

)

371‌

521‌

High

Income

Fund

22‌

—‌

—‌

32‌

International

Small

Company

Fund

34‌

—‌

—‌

379‌

LargeCap

Growth

Fund

I

—‌

—‌

996‌

(

401‌

)

LargeCap

S&P

500

Index

Fund

154‌

—‌

138‌

301‌

LargeCap

Value

Fund

III

173‌

1‌

798‌

(

380‌

)

MidCap

Fund

—‌

—‌

63‌

132‌

MidCap

Growth

Fund

III

—‌

—‌

79‌

249‌

MidCap

Value

Fund

I

99‌

—‌

356‌

88‌

Origin

Emerging

Markets

Fund

103‌

—‌

—‌

470‌

Overseas

Fund

181‌

—‌

381‌

961‌

Real

Estate

Securities

Fund

15‌

—‌

25‌

229‌

SmallCap

Growth

Fund

I

—‌

—‌

17‌

128‌

SmallCap

Value

Fund

II

60‌

—‌

169‌

(

48‌

)

$

1,093‌

$

(

1‌

)

$

3,461‌

$

5,584‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2015

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

180

INVESTMENT

COMPANIES

-

100

.02

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

19

.58

%

Diversified

International

Fund

(a)

1,285,665‌

$

15,827‌

Diversified

Real

Asset

Fund

(a)

413,194‌

4,731‌

International

Small

Company

Fund

(a)

186,752‌

1,826‌

MidCap

S&P

400

Index

Fund

(a)

448,014‌

9,614‌

Origin

Emerging

Markets

Fund

(a)

179,463‌

1,739‌

SmallCap

S&P

600

Index

Fund

(a)

122,858‌

3,137‌

$

36,874‌

Principal

Funds,

Inc.

Institutional

Class

-

80

.44

%

Bond

Market

Index

Fund

(a)

7,427,155‌

64,319‌

High

Income

Fund

(a)

1,470,734‌

11,898‌

Inflation

Protection

Fund

(a)

1,483,949‌

11,620‌

LargeCap

S&P

500

Index

Fund

(a)

1,671,486‌

34,215‌

Short-Term

Income

Fund

(a)

2,528,523‌

29,457‌

$

151,509‌

TOTAL

INVESTMENT

COMPANIES

$

188,383‌

Total

Investments

$

188,383‌

Other

Assets

and

Liabilities

-  (0.02)%

(

30‌

)

TOTAL

NET

ASSETS

-

100.00%

$

188,353‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Fixed

Income

Funds

70

.68‌

%

Domestic

Equity

Funds

24

.94‌

%

Specialty

Funds

2

.51‌

%

International

Equity

Funds

1

.89‌

%

Other

Assets

and

Liabilities

(

0

.02‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

54,990‌

$

7,982‌

$

1,278‌

$

64,319‌

Diversified

International

Fund

11,423‌

2,868‌

309‌

15,827‌

Diversified

Real

Asset

Fund

4,032‌

873‌

93‌

4,731‌

High

Income

Fund

10,645‌

1,489‌

549‌

11,898‌

Inflation

Protection

Fund

10,880‌

1,934‌

859‌

11,620‌

International

Small

Company

Fund

1,297‌

339‌

39‌

1,826‌

LargeCap

S&P

500

Index

Fund

30,859‌

4,350‌

1,925‌

34,215‌

MidCap

S&P

400

Index

Fund

8,027‌

1,558‌

178‌

9,614‌

Origin

Emerging

Markets

Fund

1,222‌

349‌

34‌

1,739‌

Short-Term

Income

Fund

25,284‌

4,142‌

587‌

29,457‌

SmallCap

S&P

600

Index

Fund

2,642‌

665‌

70‌

3,137‌

$

161,301‌

$

26,549‌

$

5,921‌

$

188,383‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

990‌

$

(

1‌

)

$

—‌

$

2,626‌

Diversified

International

Fund

161‌

—‌

—‌

1,845‌

Diversified

Real

Asset

Fund

122‌

—‌

255‌

(

81‌

)

High

Income

Fund

230‌

—‌

—‌

313‌

Inflation

Protection

Fund

674‌

(

4‌

)

—‌

(

331‌

)

International

Small

Company

Fund

21‌

—‌

—‌

229‌

LargeCap

S&P

500

Index

Fund

479‌

(

2‌

)

430‌

933‌

MidCap

S&P

400

Index

Fund

125‌

—‌

482‌

207‌

Origin

Emerging

Markets

Fund

47‌

—‌

—‌

202‌

Short-Term

Income

Fund

189‌

—‌

—‌

618‌

SmallCap

S&P

600

Index

Fund

40‌

—‌

248‌

(

100‌

)

$

3,078‌

$

(

7‌

)

$

1,415‌

$

6,461‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2020

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

181

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

22

.97

%

Diversified

International

Fund

(a)

3,835,874‌

$

47,220‌

Diversified

Real

Asset

Fund

(a)

1,031,734‌

11,813‌

International

Small

Company

Fund

(a)

575,874‌

5,632‌

MidCap

S&P

400

Index

Fund

(a)

1,343,746‌

28,837‌

Origin

Emerging

Markets

Fund

(a)

489,067‌

4,739‌

SmallCap

S&P

600

Index

Fund

(a)

352,802‌

9,007‌

$

107,248‌

Principal

Funds,

Inc.

Institutional

Class

-

77

.04

%

Bond

Market

Index

Fund

(a)

17,556,528‌

152,040‌

High

Income

Fund

(a)

3,233,367‌

26,158‌

Inflation

Protection

Fund

(a)

3,261,216‌

25,535‌

LargeCap

S&P

500

Index

Fund

(a)

4,973,353‌

101,804‌

Short-Term

Income

Fund

(a)

4,652,542‌

54,202‌

$

359,739‌

TOTAL

INVESTMENT

COMPANIES

$

466,987‌

Total

Investments

$

466,987‌

Other

Assets

and

Liabilities

-  (0.01)%

(

49‌

)

TOTAL

NET

ASSETS

-

100.00%

$

466,938‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Fixed

Income

Funds

65

.35‌

%

Domestic

Equity

Funds

29

.91‌

%

Specialty

Funds

2

.53‌

%

International

Equity

Funds

2

.22‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

141,418‌

$

8,163‌

$

4,046‌

$

152,040‌

Diversified

International

Fund

36,514‌

6,263‌

1,220‌

47,220‌

Diversified

Real

Asset

Fund

10,984‌

1,338‌

306‌

11,813‌

High

Income

Fund

25,596‌

1,348‌

1,499‌

26,158‌

Inflation

Protection

Fund

26,432‌

2,343‌

2,514‌

25,535‌

International

Small

Company

Fund

4,303‌

756‌

152‌

5,632‌

LargeCap

S&P

500

Index

Fund

100,977‌

5,857‌

7,775‌

101,804‌

MidCap

S&P

400

Index

Fund

26,224‌

2,743‌

715‌

28,837‌

Origin

Emerging

Markets

Fund

3,581‌

718‌

134‌

4,739‌

Short-Term

Income

Fund

50,605‌

3,853‌

1,435‌

54,202‌

SmallCap

S&P

600

Index

Fund

8,416‌

1,203‌

281‌

9,007‌

$

435,050‌

$

34,585‌

$

20,077‌

$

466,987‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

2,423‌

$

6‌

$

—‌

$

6,499‌

Diversified

International

Fund

490‌

1‌

—‌

5,662‌

Diversified

Real

Asset

Fund

310‌

—‌

660‌

(

203‌

)

High

Income

Fund

518‌

8‌

—‌

705‌

Inflation

Protection

Fund

1,513‌

(

7‌

)

—‌

(

719‌

)

International

Small

Company

Fund

67‌

—‌

—‌

725‌

LargeCap

S&P

500

Index

Fund

1,474‌

(

590‌

)

1,326‌

3,335‌

MidCap

S&P

400

Index

Fund

387‌

—‌

1,496‌

585‌

Origin

Emerging

Markets

Fund

130‌

(

6‌

)

—‌

580‌

Short-Term

Income

Fund

360‌

—‌

—‌

1,179‌

SmallCap

S&P

600

Index

Fund

119‌

—‌

745‌

(

331‌

)

$

7,791‌

$

(

588‌

)

$

4,227‌

$

18,017‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2025

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

182

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

26

.75

%

Diversified

International

Fund

(a)

5,727,851‌

$

70,510‌

Diversified

Real

Asset

Fund

(a)

1,320,411‌

15,118‌

International

Small

Company

Fund

(a)

841,225‌

8,227‌

MidCap

S&P

400

Index

Fund

(a)

1,961,459‌

42,093‌

Origin

Emerging

Markets

Fund

(a)

749,150‌

7,259‌

SmallCap

S&P

600

Index

Fund

(a)

539,748‌

13,780‌

$

156,987‌

Principal

Funds,

Inc.

Institutional

Class

-

73

.26

%

Bond

Market

Index

Fund

(a)

20,576,401‌

178,192‌

High

Income

Fund

(a)

3,574,468‌

28,917‌

Inflation

Protection

Fund

(a)

3,535,017‌

27,679‌

LargeCap

S&P

500

Index

Fund

(a)

7,454,841‌

152,601‌

Short-Term

Income

Fund

(a)

3,644,365‌

42,457‌

$

429,846‌

TOTAL

INVESTMENT

COMPANIES

$

586,833‌

Total

Investments

$

586,833‌

Other

Assets

and

Liabilities

-  (0.01)%

(

59‌

)

TOTAL

NET

ASSETS

-

100.00%

$

586,774‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Fixed

Income

Funds

59

.27‌

%

Domestic

Equity

Funds

35

.53‌

%

International

Equity

Funds

2

.64‌

%

Specialty

Funds

2

.57‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

157,734‌

$

14,011‌

$

941‌

$

178,192‌

Diversified

International

Fund

53,374‌

9,116‌

329‌

70,510‌

Diversified

Real

Asset

Fund

13,334‌

2,106‌

70‌

15,118‌

High

Income

Fund

26,753‌

2,361‌

961‌

28,917‌

Inflation

Protection

Fund

26,789‌

3,365‌

1,691‌

27,679‌

International

Small

Company

Fund

6,136‌

1,087‌

40‌

8,227‌

LargeCap

S&P

500

Index

Fund

141,177‌

13,007‌

5,664‌

152,601‌

MidCap

S&P

400

Index

Fund

36,283‌

5,111‌

188‌

42,093‌

Origin

Emerging

Markets

Fund

5,336‌

1,095‌

37‌

7,259‌

Short-Term

Income

Fund

36,446‌

5,336‌

205‌

42,457‌

SmallCap

S&P

600

Index

Fund

12,033‌

2,278‌

77‌

13,780‌

$

515,395‌

$

58,873‌

$

10,203‌

$

586,833‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

2,753‌

$

—‌

$

—‌

$

7,388‌

Diversified

International

Fund

713‌

—‌

—‌

8,349‌

Diversified

Real

Asset

Fund

388‌

—‌

817‌

(

252‌

)

High

Income

Fund

559‌

—‌

—‌

764‌

Inflation

Protection

Fund

1,599‌

(

9‌

)

—‌

(

775‌

)

International

Small

Company

Fund

96‌

—‌

—‌

1,044‌

LargeCap

S&P

500

Index

Fund

2,144‌

6‌

1,922‌

4,075‌

MidCap

S&P

400

Index

Fund

548‌

—‌

2,112‌

887‌

Origin

Emerging

Markets

Fund

194‌

—‌

—‌

865‌

Short-Term

Income

Fund

271‌

—‌

—‌

880‌

SmallCap

S&P

600

Index

Fund

176‌

—‌

1,092‌

(

454‌

)

$

9,441‌

$

(

3‌

)

$

5,943‌

$

22,771‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2030

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

183

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

30

.96

%

Diversified

International

Fund

(a)

6,688,003‌

$

82,329‌

International

Small

Company

Fund

(a)

1,008,655‌

9,865‌

MidCap

S&P

400

Index

Fund

(a)

2,308,666‌

49,544‌

Origin

Emerging

Markets

Fund

(a)

891,790‌

8,642‌

Real

Estate

Securities

Fund

(a)

515,540‌

14,378‌

SmallCap

S&P

600

Index

Fund

(a)

630,037‌

16,085‌

$

180,843‌

Principal

Funds,

Inc.

Institutional

Class

-

69

.05

%

Bond

Market

Index

Fund

(a)

22,818,580‌

197,609‌

High

Income

Fund

(a)

3,294,072‌

26,649‌

LargeCap

S&P

500

Index

Fund

(a)

8,746,802‌

179,047‌

$

403,305‌

TOTAL

INVESTMENT

COMPANIES

$

584,148‌

Total

Investments

$

584,148‌

Other

Assets

and

Liabilities

-  (0.01)%

(

63‌

)

TOTAL

NET

ASSETS

-

100.00%

$

584,085‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Fixed

Income

Funds

52

.49‌

%

Domestic

Equity

Funds

44

.35‌

%

International

Equity

Funds

3

.17‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

177,114‌

$

13,466‌

$

1,238‌

$

197,609‌

Diversified

International

Fund

63,385‌

9,590‌

501‌

82,329‌

High

Income

Fund

25,035‌

1,808‌

904‌

26,649‌

International

Small

Company

Fund

7,490‌

1,172‌

62‌

9,865‌

LargeCap

S&P

500

Index

Fund

168,281‌

12,934‌

6,973‌

179,047‌

MidCap

S&P

400

Index

Fund

43,395‌

5,409‌

289‌

49,544‌

Origin

Emerging

Markets

Fund

6,477‌

1,177‌

57‌

8,642‌

Real

Estate

Securities

Fund

12,417‌

897‌

89‌

14,378‌

SmallCap

S&P

600

Index

Fund

14,326‌

2,428‌

119‌

16,085‌

$

517,920‌

$

48,881‌

$

10,232‌

$

584,148‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

3,075‌

$

—‌

$

—‌

$

8,267‌

Diversified

International

Fund

831‌

—‌

—‌

9,855‌

High

Income

Fund

517‌

—‌

—‌

710‌

International

Small

Company

Fund

114‌

—‌

—‌

1,265‌

LargeCap

S&P

500

Index

Fund

2,534‌

(

36‌

)

2,276‌

4,841‌

MidCap

S&P

400

Index

Fund

650‌

—‌

2,509‌

1,029‌

Origin

Emerging

Markets

Fund

231‌

—‌

—‌

1,045‌

Real

Estate

Securities

Fund

75‌

—‌

128‌

1,153‌

SmallCap

S&P

600

Index

Fund

207‌

—‌

1,290‌

(

550‌

)

$

8,234‌

$

(

36‌

)

$

6,203‌

$

27,615‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2035

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

184

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

35

.67

%

Diversified

International

Fund

(a)

6,012,842‌

$

74,018‌

International

Small

Company

Fund

(a)

870,888‌

8,517‌

MidCap

S&P

400

Index

Fund

(a)

2,049,387‌

43,980‌

Origin

Emerging

Markets

Fund

(a)

770,698‌

7,468‌

Real

Estate

Securities

Fund

(a)

395,185‌

11,022‌

SmallCap

S&P

600

Index

Fund

(a)

558,588‌

14,261‌

$

159,266‌

Principal

Funds,

Inc.

Institutional

Class

-

64

.34

%

Bond

Market

Index

Fund

(a)

12,656,320‌

109,604‌

High

Income

Fund

(a)

2,154,493‌

17,430‌

LargeCap

S&P

500

Index

Fund

(a)

7,827,876‌

160,236‌

$

287,270‌

TOTAL

INVESTMENT

COMPANIES

$

446,536‌

Total

Investments

$

446,536‌

Other

Assets

and

Liabilities

-  (0.01)%

(

49‌

)

TOTAL

NET

ASSETS

-

100.00%

$

446,487‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

51

.40‌

%

Fixed

Income

Funds

45

.03‌

%

International

Equity

Funds

3

.58‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

98,702‌

$

6,772‌

$

488‌

$

109,604‌

Diversified

International

Fund

58,171‌

7,199‌

320‌

74,018‌

High

Income

Fund

16,440‌

1,065‌

543‌

17,430‌

International

Small

Company

Fund

6,601‌

850‌

38‌

8,517‌

LargeCap

S&P

500

Index

Fund

150,204‌

10,541‌

4,830‌

160,236‌

MidCap

S&P

400

Index

Fund

38,717‌

4,511‌

181‌

43,980‌

Origin

Emerging

Markets

Fund

5,712‌

876‌

36‌

7,468‌

Real

Estate

Securities

Fund

9,573‌

609‌

48‌

11,022‌

SmallCap

S&P

600

Index

Fund

12,792‌

2,021‌

74‌

14,261‌

$

396,912‌

$

34,444‌

$

6,558‌

$

446,536‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

1,701‌

$

—‌

$

—‌

$

4,618‌

Diversified

International

Fund

746‌

—‌

—‌

8,968‌

High

Income

Fund

338‌

—‌

—‌

468‌

International

Small

Company

Fund

99‌

—‌

—‌

1,104‌

LargeCap

S&P

500

Index

Fund

2,261‌

(

6‌

)

2,030‌

4,327‌

MidCap

S&P

400

Index

Fund

575‌

—‌

2,219‌

933‌

Origin

Emerging

Markets

Fund

199‌

—‌

—‌

916‌

Real

Estate

Securities

Fund

57‌

—‌

97‌

888‌

SmallCap

S&P

600

Index

Fund

183‌

—‌

1,139‌

(

478‌

)

$

6,159‌

$

(

6‌

)

$

5,485‌

$

21,744‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2040

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

185

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

40

.90

%

Diversified

International

Fund

(a)

6,895,757‌

$

84,887‌

International

Small

Company

Fund

(a)

1,015,411‌

9,931‌

MidCap

S&P

400

Index

Fund

(a)

2,340,332‌

50,223‌

Origin

Emerging

Markets

Fund

(a)

907,626‌

8,795‌

Real

Estate

Securities

Fund

(a)

392,249‌

10,940‌

SmallCap

S&P

600

Index

Fund

(a)

645,317‌

16,475‌

$

181,251‌

Principal

Funds,

Inc.

Institutional

Class

-

59

.11

%

Bond

Market

Index

Fund

(a)

7,462,963‌

64,629‌

High

Income

Fund

(a)

1,567,802‌

12,684‌

LargeCap

S&P

500

Index

Fund

(a)

9,021,661‌

184,673‌

$

261,986‌

TOTAL

INVESTMENT

COMPANIES

$

443,237‌

Total

Investments

$

443,237‌

Other

Assets

and

Liabilities

-  (0.01)%

(

51‌

)

TOTAL

NET

ASSETS

-

100.00%

$

443,186‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

59

.19‌

%

Fixed

Income

Funds

36

.59‌

%

International

Equity

Funds

4

.23‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

56,924‌

$

5,228‌

$

187‌

$

64,629‌

Diversified

International

Fund

65,705‌

9,236‌

239‌

84,887‌

High

Income

Fund

11,681‌

1,008‌

341‌

12,684‌

International

Small

Company

Fund

7,573‌

1,112‌

28‌

9,931‌

LargeCap

S&P

500

Index

Fund

169,016‌

15,364‌

4,615‌

184,673‌

MidCap

S&P

400

Index

Fund

43,300‌

6,001‌

136‌

50,223‌

Origin

Emerging

Markets

Fund

6,620‌

1,136‌

26‌

8,795‌

Real

Estate

Securities

Fund

9,294‌

801‌

31‌

10,940‌

SmallCap

S&P

600

Index

Fund

14,414‌

2,660‌

54‌

16,475‌

$

384,527‌

$

42,546‌

$

5,657‌

$

443,237‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

1,000‌

$

—‌

$

—‌

$

2,664‌

Diversified

International

Fund

854‌

—‌

—‌

10,185‌

High

Income

Fund

244‌

—‌

—‌

336‌

International

Small

Company

Fund

115‌

—‌

—‌

1,274‌

LargeCap

S&P

500

Index

Fund

2,599‌

(

19‌

)

2,330‌

4,927‌

MidCap

S&P

400

Index

Fund

655‌

—‌

2,523‌

1,058‌

Origin

Emerging

Markets

Fund

234‌

—‌

—‌

1,065‌

Real

Estate

Securities

Fund

57‌

—‌

97‌

876‌

SmallCap

S&P

600

Index

Fund

211‌

—‌

1,309‌

(

545‌

)

$

5,969‌

$

(

19‌

)

$

6,259‌

$

21,840‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2045

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

186

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

44

.88

%

Diversified

International

Fund

(a)

4,953,607‌

$

60,979‌

International

Small

Company

Fund

(a)

731,863‌

7,158‌

MidCap

S&P

400

Index

Fund

(a)

1,699,824‌

36,478‌

Origin

Emerging

Markets

Fund

(a)

648,463‌

6,284‌

Real

Estate

Securities

Fund

(a)

255,739‌

7,132‌

SmallCap

S&P

600

Index

Fund

(a)

462,221‌

11,800‌

$

129,831‌

Principal

Funds,

Inc.

Institutional

Class

-

55

.13

%

Bond

Market

Index

Fund

(a)

2,504,808‌

21,691‌

High

Income

Fund

(a)

671,282‌

5,431‌

LargeCap

S&P

500

Index

Fund

(a)

6,465,692‌

132,353‌

$

159,475‌

TOTAL

INVESTMENT

COMPANIES

$

289,306‌

Total

Investments

$

289,306‌

Other

Assets

and

Liabilities

-  (0.01)%

(

33‌

)

TOTAL

NET

ASSETS

-

100.00%

$

289,273‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

64

.91‌

%

Fixed

Income

Funds

30

.46‌

%

International

Equity

Funds

4

.64‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

19,490‌

$

1,492‌

$

204‌

$

21,691‌

Diversified

International

Fund

47,714‌

6,447‌

552‌

60,979‌

High

Income

Fund

5,085‌

364‌

163‌

5,431‌

International

Small

Company

Fund

5,525‌

774‌

66‌

7,158‌

LargeCap

S&P

500

Index

Fund

124,117‌

9,426‌

4,799‌

132,353‌

MidCap

S&P

400

Index

Fund

32,078‌

3,928‌

317‌

36,478‌

Origin

Emerging

Markets

Fund

4,787‌

790‌

61‌

6,284‌

Real

Estate

Securities

Fund

6,190‌

432‌

65‌

7,132‌

SmallCap

S&P

600

Index

Fund

10,581‌

1,732‌

126‌

11,800‌

$

255,567‌

$

25,385‌

$

6,353‌

$

289,306‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

334‌

$

—‌

$

—‌

$

913‌

Diversified

International

Fund

611‌

—‌

—‌

7,370‌

High

Income

Fund

105‌

—‌

—‌

145‌

International

Small

Company

Fund

83‌

—‌

—‌

925‌

LargeCap

S&P

500

Index

Fund

1,855‌

7‌

1,667‌

3,602‌

MidCap

S&P

400

Index

Fund

474‌

—‌

1,829‌

789‌

Origin

Emerging

Markets

Fund

166‌

—‌

—‌

768‌

Real

Estate

Securities

Fund

37‌

—‌

63‌

575‌

SmallCap

S&P

600

Index

Fund

150‌

—‌

936‌

(

387‌

)

$

3,815‌

$

7‌

$

4,495‌

$

14,700‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2050

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

187

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

47

.34

%

Diversified

International

Fund

(a)

4,479,328‌

$

55,141‌

International

Small

Company

Fund

(a)

660,770‌

6,462‌

MidCap

S&P

400

Index

Fund

(a)

1,530,797‌

32,851‌

Origin

Emerging

Markets

Fund

(a)

593,167‌

5,748‌

Real

Estate

Securities

Fund

(a)

218,472‌

6,093‌

SmallCap

S&P

600

Index

Fund

(a)

425,947‌

10,874‌

$

117,169‌

Principal

Funds,

Inc.

Institutional

Class

-

52

.67

%

Bond

Market

Index

Fund

(a)

918,165‌

7,951‌

High

Income

Fund

(a)

320,472‌

2,593‌

LargeCap

S&P

500

Index

Fund

(a)

5,853,501‌

119,821‌

$

130,365‌

TOTAL

INVESTMENT

COMPANIES

$

247,534‌

Total

Investments

$

247,534‌

Other

Assets

and

Liabilities

-  (0.01)%

(

33‌

)

TOTAL

NET

ASSETS

-

100.00%

$

247,501‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

68

.54‌

%

Fixed

Income

Funds

26

.54‌

%

International

Equity

Funds

4

.93‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

7,135‌

$

561‌

$

79‌

$

7,951‌

Diversified

International

Fund

43,593‌

5,377‌

523‌

55,141‌

High

Income

Fund

2,420‌

176‌

72‌

2,593‌

International

Small

Company

Fund

5,039‌

648‌

64‌

6,462‌

LargeCap

S&P

500

Index

Fund

111,808‌

8,607‌

3,810‌

119,821‌

MidCap

S&P

400

Index

Fund

28,895‌

3,561‌

298‌

32,851‌

Origin

Emerging

Markets

Fund

4,426‌

675‌

60‌

5,748‌

Real

Estate

Securities

Fund

5,289‌

373‌

58‌

6,093‌

SmallCap

S&P

600

Index

Fund

9,748‌

1,616‌

125‌

10,874‌

$

218,353‌

$

21,594‌

$

5,089‌

$

247,534‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

123‌

$

—‌

$

—‌

$

334‌

Diversified

International

Fund

553‌

—‌

—‌

6,694‌

High

Income

Fund

50‌

—‌

—‌

69‌

International

Small

Company

Fund

75‌

—‌

—‌

839‌

LargeCap

S&P

500

Index

Fund

1,687‌

(

14‌

)

1,515‌

3,230‌

MidCap

S&P

400

Index

Fund

429‌

—‌

1,655‌

693‌

Origin

Emerging

Markets

Fund

152‌

—‌

—‌

707‌

Real

Estate

Securities

Fund

31‌

—‌

54‌

489‌

SmallCap

S&P

600

Index

Fund

139‌

—‌

867‌

(

365‌

)

$

3,239‌

$

(

14‌

)

$

4,091‌

$

12,690‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2055

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

188

INVESTMENT

COMPANIES

-

100

.02

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

47

.39

%

Diversified

International

Fund

(a)

2,367,372‌

$

29,142‌

International

Small

Company

Fund

(a)

350,172‌

3,425‌

MidCap

S&P

400

Index

Fund

(a)

808,022‌

17,340‌

Origin

Emerging

Markets

Fund

(a)

313,260‌

3,035‌

Real

Estate

Securities

Fund

(a)

115,368‌

3,218‌

SmallCap

S&P

600

Index

Fund

(a)

227,844‌

5,817‌

$

61,977‌

Principal

Funds,

Inc.

Institutional

Class

-

52

.63

%

Bond

Market

Index

Fund

(a)

486,336‌

4,212‌

High

Income

Fund

(a)

169,744‌

1,373‌

LargeCap

S&P

500

Index

Fund

(a)

3,089,618‌

63,245‌

$

68,830‌

TOTAL

INVESTMENT

COMPANIES

$

130,807‌

Total

Investments

$

130,807‌

Other

Assets

and

Liabilities

-  (0.02)%

(

24‌

)

TOTAL

NET

ASSETS

-

100.00%

$

130,783‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

68

.53‌

%

Fixed

Income

Funds

26

.55‌

%

International

Equity

Funds

4

.94‌

%

Other

Assets

and

Liabilities

(

0

.02‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

3,661‌

$

385‌

$

7‌

$

4,212‌

Diversified

International

Fund

22,436‌

3,273‌

54‌

29,142‌

High

Income

Fund

1,241‌

122‌

26‌

1,373‌

International

Small

Company

Fund

2,597‌

396‌

6‌

3,425‌

LargeCap

S&P

500

Index

Fund

57,116‌

5,779‌

1,343‌

63,245‌

MidCap

S&P

400

Index

Fund

14,791‌

2,208‌

29‌

17,340‌

Origin

Emerging

Markets

Fund

2,269‌

406‌

7‌

3,035‌

Real

Estate

Securities

Fund

2,703‌

263‌

5‌

3,218‌

SmallCap

S&P

600

Index

Fund

5,023‌

993‌

13‌

5,817‌

$

111,837‌

$

13,825‌

$

1,490‌

$

130,807‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

64‌

$

—‌

$

—‌

$

173‌

Diversified

International

Fund

290‌

—‌

—‌

3,487‌

High

Income

Fund

26‌

—‌

—‌

36‌

International

Small

Company

Fund

39‌

—‌

—‌

438‌

LargeCap

S&P

500

Index

Fund

879‌

(

2‌

)

789‌

1,695‌

MidCap

S&P

400

Index

Fund

223‌

—‌

861‌

370‌

Origin

Emerging

Markets

Fund

80‌

—‌

—‌

367‌

Real

Estate

Securities

Fund

17‌

—‌

28‌

257‌

SmallCap

S&P

600

Index

Fund

73‌

—‌

456‌

(

186‌

)

$

1,691‌

$

(

2‌

)

$

2,134‌

$

6,637‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2060

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

189

INVESTMENT

COMPANIES

-

100

.02

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

47

.49

%

Diversified

International

Fund

(a)

1,092,872‌

$

13,453‌

International

Small

Company

Fund

(a)

162,463‌

1,589‌

MidCap

S&P

400

Index

Fund

(a)

373,274‌

8,010‌

Origin

Emerging

Markets

Fund

(a)

145,787‌

1,413‌

Real

Estate

Securities

Fund

(a)

53,198‌

1,484‌

SmallCap

S&P

600

Index

Fund

(a)

107,765‌

2,751‌

$

28,700‌

Principal

Funds,

Inc.

Institutional

Class

-

52

.53

%

Bond

Market

Index

Fund

(a)

225,122‌

1,950‌

High

Income

Fund

(a)

78,570‌

636‌

LargeCap

S&P

500

Index

Fund

(a)

1,424,549‌

29,160‌

$

31,746‌

TOTAL

INVESTMENT

COMPANIES

$

60,446‌

Total

Investments

$

60,446‌

Other

Assets

and

Liabilities

-  (0.02)%

(

15‌

)

TOTAL

NET

ASSETS

-

100.00%

$

60,431‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

68

.51‌

%

Fixed

Income

Funds

26

.54‌

%

International

Equity

Funds

4

.97‌

%

Other

Assets

and

Liabilities

(

0

.02‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

1,654‌

$

225‌

$

8‌

$

1,950‌

Diversified

International

Fund

10,220‌

1,689‌

55‌

13,453‌

High

Income

Fund

561‌

72‌

13‌

636‌

International

Small

Company

Fund

1,188‌

206‌

7‌

1,589‌

LargeCap

S&P

500

Index

Fund

25,588‌

3,314‌

518‌

29,160‌

MidCap

S&P

400

Index

Fund

6,676‌

1,194‌

31‌

8,010‌

Origin

Emerging

Markets

Fund

1,040‌

209‌

5‌

1,413‌

Real

Estate

Securities

Fund

1,216‌

156‌

7‌

1,484‌

SmallCap

S&P

600

Index

Fund

2,314‌

536‌

14‌

2,751‌

$

50,457‌

$

7,601‌

$

658‌

$

60,446‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

29‌

$

—‌

$

—‌

$

79‌

Diversified

International

Fund

133‌

—‌

—‌

1,599‌

High

Income

Fund

12‌

—‌

—‌

16‌

International

Small

Company

Fund

18‌

—‌

—‌

202‌

LargeCap

S&P

500

Index

Fund

401‌

—‌

361‌

776‌

MidCap

S&P

400

Index

Fund

102‌

—‌

394‌

171‌

Origin

Emerging

Markets

Fund

37‌

—‌

—‌

169‌

Real

Estate

Securities

Fund

8‌

—‌

13‌

119‌

SmallCap

S&P

600

Index

Fund

34‌

—‌

214‌

(

85‌

)

$

774‌

$

—‌

$

982‌

$

3,046‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

2065

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

190

INVESTMENT

COMPANIES

-

100

.04

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

47

.48

%

Diversified

International

Fund

(a)

290,061‌

$

3,571‌

International

Small

Company

Fund

(a)

42,983‌

420‌

MidCap

S&P

400

Index

Fund

(a)

98,848‌

2,121‌

Origin

Emerging

Markets

Fund

(a)

37,873‌

367‌

Real

Estate

Securities

Fund

(a)

14,107‌

394‌

SmallCap

S&P

600

Index

Fund

(a)

28,236‌

721‌

$

7,594‌

Principal

Funds,

Inc.

Institutional

Class

-

52

.56

%

Bond

Market

Index

Fund

(a)

59,664‌

517‌

High

Income

Fund

(a)

20,825‌

168‌

LargeCap

S&P

500

Index

Fund

(a)

377,198‌

7,721‌

$

8,406‌

TOTAL

INVESTMENT

COMPANIES

$

16,000‌

Total

Investments

$

16,000‌

Other

Assets

and

Liabilities

-  (0.04)%

(

7‌

)

TOTAL

NET

ASSETS

-

100.00%

$

15,993‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

68

.51‌

%

Fixed

Income

Funds

26

.61‌

%

International

Equity

Funds

4

.92‌

%

Other

Assets

and

Liabilities

(

0

.04‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

428‌

$

68‌

$

—‌

$

517‌

Diversified

International

Fund

2,609‌

556‌

7‌

3,571‌

High

Income

Fund

145‌

22‌

4‌

168‌

International

Small

Company

Fund

302‌

66‌

—‌

420‌

LargeCap

S&P

500

Index

Fund

6,689‌

1,006‌

177‌

7,721‌

MidCap

S&P

400

Index

Fund

1,730‌

350‌

4‌

2,121‌

Origin

Emerging

Markets

Fund

259‌

66‌

—‌

367‌

Real

Estate

Securities

Fund

315‌

48‌

—‌

394‌

SmallCap

S&P

600

Index

Fund

590‌

155‌

2‌

721‌

$

13,067‌

$

2,337‌

$

194‌

$

16,000‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

8‌

$

—‌

$

—‌

$

21‌

Diversified

International

Fund

34‌

—‌

—‌

413‌

High

Income

Fund

3‌

—‌

—‌

5‌

International

Small

Company

Fund

5‌

—‌

—‌

52‌

LargeCap

S&P

500

Index

Fund

104‌

—‌

94‌

203‌

MidCap

S&P

400

Index

Fund

27‌

—‌

103‌

45‌

Origin

Emerging

Markets

Fund

9‌

—‌

—‌

42‌

Real

Estate

Securities

Fund

2‌

—‌

3‌

31‌

SmallCap

S&P

600

Index

Fund

9‌

—‌

55‌

(

22‌

)

$

201‌

$

—‌

$

255‌

$

790‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Hybrid

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

191

INVESTMENT

COMPANIES

-

100

.02

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

18

.33

%

Diversified

International

Fund

(a)

629,924‌

$

7,754‌

Diversified

Real

Asset

Fund

(a)

231,117‌

2,646‌

International

Small

Company

Fund

(a)

94,321‌

922‌

MidCap

S&P

400

Index

Fund

(a)

221,831‌

4,761‌

Origin

Emerging

Markets

Fund

(a)

84,746‌

821‌

SmallCap

S&P

600

Index

Fund

(a)

59,324‌

1,515‌

$

18,419‌

Principal

Funds,

Inc.

Institutional

Class

-

81

.69

%

Bond

Market

Index

Fund

(a)

4,064,349‌

35,197‌

High

Income

Fund

(a)

814,913‌

6,593‌

Inflation

Protection

Fund

(a)

822,761‌

6,442‌

LargeCap

S&P

500

Index

Fund

(a)

817,375‌

16,732‌

Short-Term

Income

Fund

(a)

1,471,692‌

17,145‌

$

82,109‌

TOTAL

INVESTMENT

COMPANIES

$

100,528‌

Total

Investments

$

100,528‌

Other

Assets

and

Liabilities

-  (0.02)%

(

18‌

)

TOTAL

NET

ASSETS

-

100.00%

$

100,510‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Fixed

Income

Funds

72

.76‌

%

Domestic

Equity

Funds

22

.89‌

%

Specialty

Funds

2

.63‌

%

International

Equity

Funds

1

.74‌

%

Other

Assets

and

Liabilities

(

0

.02‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Bond

Market

Index

Fund

$

31,202‌

$

3,898‌

$

1,376‌

$

35,197‌

Diversified

International

Fund

5,549‌

1,476‌

159‌

7,754‌

Diversified

Real

Asset

Fund

2,296‌

444‌

51‌

2,646‌

High

Income

Fund

6,001‌

751‌

330‌

6,593‌

Inflation

Protection

Fund

6,171‌

987‌

545‌

6,442‌

International

Small

Company

Fund

650‌

179‌

20‌

922‌

LargeCap

S&P

500

Index

Fund

15,478‌

1,954‌

1,154‌

16,732‌

MidCap

S&P

400

Index

Fund

4,034‌

718‌

92‌

4,761‌

Origin

Emerging

Markets

Fund

572‌

172‌

17‌

821‌

Short-Term

Income

Fund

14,162‌

2,983‌

346‌

17,145‌

SmallCap

S&P

600

Index

Fund

1,307‌

289‌

33‌

1,515‌

$

87,422‌

$

13,851‌

$

4,123‌

$

100,528‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Bond

Market

Index

Fund

$

533‌

$

(

5‌

)

$

—‌

$

1,478‌

Diversified

International

Fund

76‌

—‌

—‌

888‌

Diversified

Real

Asset

Fund

66‌

—‌

141‌

(

43‌

)

High

Income

Fund

125‌

—‌

—‌

171‌

Inflation

Protection

Fund

361‌

(

1‌

)

—‌

(

170‌

)

International

Small

Company

Fund

11‌

—‌

—‌

113‌

LargeCap

S&P

500

Index

Fund

231‌

(

6‌

)

207‌

460‌

MidCap

S&P

400

Index

Fund

61‌

—‌

235‌

101‌

Origin

Emerging

Markets

Fund

21‌

—‌

—‌

94‌

Short-Term

Income

Fund

107‌

—‌

—‌

346‌

SmallCap

S&P

600

Index

Fund

19‌

—‌

119‌

(

48‌

)

$

1,611‌

$

(

12‌

)

$

702‌

$

3,390‌

Amounts

in

thousands.

Schedule

of

Investments

Principal

LifeTime

Strategic

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

192

INVESTMENT

COMPANIES

-

100

.01

%

Shares

Held

Value

(000's)

Principal

Funds,

Inc.

Class

R-6

-

55

.59

%

Blue

Chip

Fund

(a),(b)

379,747‌

$

11,658‌

Core

Fixed

Income

Fund

(a)

14,039,760‌

121,865‌

Diversified

International

Fund

(a)

1,360,721‌

16,751‌

Diversified

Real

Asset

Fund

(a)

786,870‌

9,010‌

International

Small

Company

Fund

(a)

329,384‌

3,221‌

LargeCap

Growth

Fund

I

(a),(b)

791,218‌

11,299‌

MidCap

Fund

(a),(b)

59,569‌

2,018‌

MidCap

Value

Fund

I

(a)

483,925‌

7,965‌

Origin

Emerging

Markets

Fund

(a)

428,216‌

4,149‌

SmallCap

Growth

Fund

I

(a),(b)

179,848‌

2,385‌

SmallCap

Value

Fund

II

(a)

220,120‌

2,520‌

$

192,841‌

Principal

Funds,

Inc.

Institutional

Class

-

44

.42

%

Equity

Income

Fund

(a)

326,765‌

12,113‌

High

Income

Fund

(a)

2,813,592‌

22,762‌

Inflation

Protection

Fund

(a)

2,837,122‌

22,215‌

LargeCap

S&P

500

Index

Fund

(a)

566,712‌

11,601‌

LargeCap

Value

Fund

III

(a)

670,426‌

11,799‌

MidCap

Growth

Fund

III

(a),(b)

505,346‌

5,635‌

Overseas

Fund

(a)

857,428‌

8,754‌

Short-Term

Income

Fund

(a)

5,080,846‌

59,192‌

$

154,071‌

TOTAL

INVESTMENT

COMPANIES

$

346,912‌

Total

Investments

$

346,912‌

Other

Assets

and

Liabilities

-  (0.01)%

(

48‌

)

TOTAL

NET

ASSETS

-

100.00%

$

346,864‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Fixed

Income

Funds

69

.99‌

%

Domestic

Equity

Funds

22

.78‌

%

International

Equity

Funds

4

.64‌

%

Specialty

Funds

2

.60‌

%

Other

Assets

and

Liabilities

(

0

.01‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

Principal

LifeTime

Strategic

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

193

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

11,668‌

$

218‌

$

1,103‌

$

11,658‌

Core

Fixed

Income

Fund

120,914‌

2,515‌

8,444‌

121,865‌

Diversified

International

Fund

13,369‌

2,065‌

739‌

16,751‌

Diversified

Real

Asset

Fund

8,662‌

857‌

363‌

9,010‌

Equity

Income

Fund

12,022‌

630‌

1,121‌

12,113‌

High

Income

Fund

23,040‌

748‌

1,659‌

22,762‌

Inflation

Protection

Fund

24,127‌

1,616‌

2,916‌

22,215‌

International

Small

Company

Fund

2,540‌

395‌

138‌

3,221‌

LargeCap

Growth

Fund

I

11,630‌

1,238‌

1,086‌

11,299‌

LargeCap

S&P

500

Index

Fund

11,924‌

463‌

1,106‌

11,601‌

LargeCap

Value

Fund

III

12,114‌

1,217‌

1,116‌

11,799‌

MidCap

Fund

1,907‌

88‌

95‌

2,018‌

MidCap

Growth

Fund

III

5,412‌

167‌

231‌

5,635‌

MidCap

Value

Fund

I

7,584‌

611‌

319‌

7,965‌

Origin

Emerging

Markets

Fund

3,237‌

577‌

181‌

4,149‌

Overseas

Fund

6,498‌

1,543‌

312‌

8,754‌

Short-Term

Income

Fund

53,323‌

7,102‌

2,498‌

59,192‌

SmallCap

Growth

Fund

I

2,321‌

53‌

115‌

2,385‌

SmallCap

Value

Fund

II

2,412‌

286‌

117‌

2,520‌

$

334,704‌

$

22,389‌

$

23,659‌

$

346,912‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

94‌

$

77‌

$

781‌

Core

Fixed

Income

Fund

952‌

(

284‌

)

—‌

7,164‌

Diversified

International

Fund

175‌

22‌

—‌

2,034‌

Diversified

Real

Asset

Fund

238‌

1‌

508‌

(

147‌

)

Equity

Income

Fund

72‌

(

12‌

)

417‌

594‌

High

Income

Fund

457‌

(

153‌

)

—‌

786‌

Inflation

Protection

Fund

1,326‌

(

177‌

)

—‌

(

435‌

)

International

Small

Company

Fund

39‌

(

1‌

)

—‌

425‌

LargeCap

Growth

Fund

I

—‌

(

152‌

)

1,098‌

(

331‌

)

LargeCap

S&P

500

Index

Fund

170‌

(

89‌

)

153‌

409‌

LargeCap

Value

Fund

III

192‌

6‌

884‌

(

422‌

)

MidCap

Fund

—‌

(

7‌

)

59‌

125‌

MidCap

Growth

Fund

III

—‌

8‌

97‌

279‌

MidCap

Value

Fund

I

112‌

2‌

402‌

87‌

Origin

Emerging

Markets

Fund

115‌

5‌

—‌

511‌

Overseas

Fund

199‌

8‌

423‌

1,017‌

Short-Term

Income

Fund

390‌

(

4‌

)

—‌

1,269‌

SmallCap

Growth

Fund

I

—‌

22‌

18‌

104‌

SmallCap

Value

Fund

II

66‌

(

5‌

)

185‌

(

56‌

)

$

4,503‌

$

(

716‌

)

$

4,321‌

$

14,194‌

Amounts

in

thousands.

Schedule

of

Investments

Real

Estate

Securities

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

194

INVESTMENT

COMPANIES

-

1

.37

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

1

.37

%

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b)

81,524,193‌

$

81,524‌

TOTAL

INVESTMENT

COMPANIES

$

81,524‌

COMMON

STOCKS

-

97

.95

%

Shares

Held

Value

(000's)

Entertainment

-

1

.27

%

Marriott

Vacations

Worldwide

Corp

469,308‌

$

75,108‌

REITs

-

96

.68

%

Agree

Realty

Corp

1,034,761‌

77,224‌

Alexandria

Real

Estate

Equities

Inc

1,349,671‌

216,946‌

American

Homes

4

Rent

5,797,859‌

198,809‌

American

Tower

Corp

1,037,911‌

231,859‌

Apartment

Income

REIT

Corp

2,812,924‌

107,623‌

Apple

Hospitality

REIT

Inc

2,940,804‌

52,140‌

AvalonBay

Communities

Inc

1,602,606‌

284,366‌

Boston

Properties

Inc

77,473‌

5,775‌

Broadstone

Net

Lease

Inc

4,577,361‌

82,896‌

Cousins

Properties

Inc

2,711,326‌

74,345‌

CubeSmart

3,279,385‌

150,163‌

DiamondRock

Hospitality

Co

4,460,787‌

42,957‌

Digital

Realty

Trust

Inc

1,897,977‌

217,546‌

Equinix

Inc

282,699‌

208,669‌

Equity

LifeStyle

Properties

Inc

2,590,480‌

185,945‌

Equity

Residential

769,261‌

48,963‌

Essex

Property

Trust

Inc

961,732‌

217,419‌

Extra

Space

Storage

Inc

1,590,898‌

251,091‌

First

Industrial

Realty

Trust

Inc

2,811,016‌

149,968‌

Gaming

and

Leisure

Properties

Inc

2,238,433‌

119,891‌

Healthcare

Realty

Trust

Inc

3,290,064‌

70,835‌

InvenTrust

Properties

Corp

1,160,483‌

28,861‌

Invitation

Homes

Inc

6,347,176‌

206,283‌

Kilroy

Realty

Corp

2,043,265‌

83,856‌

Medical

Properties

Trust

Inc

5,678,402‌

73,535‌

NETSTREIT

Corp

1,893,924‌

38,125‌

Prologis

Inc

3,373,654‌

436,146‌

Public

Storage

415,818‌

126,550‌

Regency

Centers

Corp

2,525,969‌

168,305‌

Rexford

Industrial

Realty

Inc

3,492,546‌

221,672‌

Sabra

Health

Care

REIT

Inc

5,166,674‌

69,750‌

Saul

Centers

Inc

465,312‌

19,920‌

Simon

Property

Group

Inc

657,464‌

84,458‌

Sun

Communities

Inc

1,573,950‌

246,890‌

Terreno

Realty

Corp

1,709,490‌

110,142‌

Ventas

Inc

5,697,962‌

295,211‌

VICI

Properties

Inc

8,100,747‌

276,884‌

Welltower

Inc

3,364,060‌

252,439‌

$

5,734,457‌

TOTAL

COMMON

STOCKS

$

5,809,565‌

Total

Investments

$

5,891,089‌

Other

Assets

and

Liabilities

-  0.68%

40,216‌

TOTAL

NET

ASSETS

-

100.00%

$

5,931,305‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Current

yield

shown

is

as

of

period

end.

Portfolio

Summary  (unaudited)

Sector

Percent

Financial

96

.68‌

%

Money

Market

Funds

1

.37‌

%

Consumer,

Cyclical

1

.27‌

%

Other

Assets

and

Liabilities

0

.68‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

144,218‌

$

62,694‌

$

81,524‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

141,406‌

171,305‌

312,711‌

—‌

$

141,406‌

$

315,523‌

$

375,405‌

$

81,524‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

185‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

140‌

—‌

—‌

—‌

$

325‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

Schedule

of

Investments

SAM

Balanced

Portfolio

January

31,

2023

(unaudited)

See

accompanying

notes.

195

INVESTMENT

COMPANIES

-

100.07%

Shares

Held

Value

(000's)

Money

Market

Funds

-

0.38%

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b)

16,195,407‌

$

16,195‌

Principal

Exchange-Traded

Funds

-

7.02%

Principal

U.S.

Mega-Cap

ETF

(a)

6,727,257‌

255,434‌

Principal

U.S.

Small-Cap

Multi-Factor

ETF

(a)

1,049,700‌

44,864‌

$

300,298‌

Principal

Funds,

Inc.

Class

R-6

-

54.47%

Blue

Chip

Fund

(a),(c)

16,671,228‌

511,807‌

Core

Fixed

Income

Fund

(a)

68,335,890‌

593,155‌

Diversified

International

Fund

(a)

15,973,394‌

196,632‌

Diversified

Real

Asset

Fund

(a)

16,687,218‌

191,069‌

High

Yield

Fund

(a)

15,457,301‌

100,318‌

International

Small

Company

Fund

(a)

4,776,783‌

46,717‌

LargeCap

Growth

Fund

I

(a),(c)

5,477,847‌

78,224‌

MidCap

Fund

(a),(c)

4,893,970‌

165,808‌

Origin

Emerging

Markets

Fund

(a)

17,774,388‌

172,234‌

Small-

MidCap

Dividend

Income

Fund

(a)

5,255,769‌

86,773‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a)

20,586,689‌

188,162‌

$

2,330,899‌

Principal

Funds,

Inc.

Institutional

Class

-

38.20%

Bond

Market

Index

Fund

(a)

42,385,646‌

367,060‌

Equity

Income

Fund

(a)

11,618,769‌

430,708‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a)

6,436,590‌

56,642‌

Government

&

High

Quality

Bond

Fund

(a)

6,793,375‌

62,227‌

Inflation

Protection

Fund

(a)

9,776,847‌

76,553‌

LargeCap

Value

Fund

III

(a)

4,861,570‌

85,563‌

Overseas

Fund

(a)

8,535,933‌

87,152‌

Principal

Capital

Appreciation

Fund

(a)

5,841,729‌

341,274‌

Short-Term

Income

Fund

(a)

10,960,892‌

127,694‌

$

1,634,873‌

TOTAL

INVESTMENT

COMPANIES

$

4,282,265‌

Total

Investments

$

4,282,265‌

Other

Assets

and

Liabilities

-  (0.07)%

(2,802‌)

TOTAL

NET

ASSETS

-

100.00%

$

4,279,463‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Current

yield

shown

is

as

of

period

end.

(c)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

46.75‌%

Fixed

Income

Funds

41.32‌%

International

Equity

Funds

7.15‌%

Specialty

Funds

4.47‌%

Money

Market

Funds

0.38‌%

Other

Assets

and

Liabilities

(0.07‌)%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

SAM

Balanced

Portfolio

January

31,

2023

(unaudited)

See

accompanying

notes.

196

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

462,224‌

$

17,193‌

$

4,626‌

$

511,807‌

Bond

Market

Index

Fund

348,711‌

6,867‌

4,606‌

367,060‌

Core

Fixed

Income

Fund

435,431‌

136,294‌

4,387‌

593,155‌

Diversified

International

Fund

188,886‌

2,585‌

21,974‌

196,632‌

Diversified

Real

Asset

Fund

182,301‌

16,264‌

4,394‌

191,069‌

Equity

Income

Fund

417,395‌

20,159‌

27,057‌

430,708‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

50,715‌

1,107‌

826‌

56,642‌

Global

Real

Estate

Securities

Fund

18,036‌

220‌

19,684‌

—‌

Government

&

High

Quality

Bond

Fund

105,004‌

1,068‌

50,548‌

62,227‌

High

Yield

Fund

110,274‌

1,842‌

16,170‌

100,318‌

Inflation

Protection

Fund

84,559‌

5,248‌

10,634‌

76,553‌

International

Small

Company

Fund

40,658‌

648‌

1,045‌

46,717‌

LargeCap

Growth

Fund

I

70,015‌

12,248‌

1,235‌

78,224‌

LargeCap

Value

Fund

III

126,011‌

12,083‌

47,224‌

85,563‌

MidCap

Fund

179,931‌

5,825‌

30,256‌

165,808‌

Origin

Emerging

Markets

Fund

136,502‌

16,244‌

1,922‌

172,234‌

Overseas

Fund

63,068‌

15,377‌

1,413‌

87,152‌

Principal

Capital

Appreciation

Fund

329,698‌

3,860‌

8,541‌

341,274‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

—‌

46,200‌

30,005‌

16,195‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

41,450‌

211‌

41,661‌

—‌

Principal

U.S.

Mega-Cap

ETF

242,853‌

—‌

—‌

255,434‌

Principal

U.S.

Small-Cap

Multi-Factor

ETF

53,999‌

—‌

11,355‌

44,864‌

Short-Term

Income

Fund

126,548‌

1,086‌

2,808‌

127,694‌

Small-

MidCap

Dividend

Income

Fund

—‌

84,220‌

—‌

86,773‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

196,310‌

3,566‌

24,402‌

188,162‌

$

4,010,579‌

$

410,415‌

$

366,773‌

$

4,282,265‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(1,231‌)

$

3,224‌

$

38,247‌

Bond

Market

Index

Fund

5,828‌

(223‌)

—‌

16,311‌

Core

Fixed

Income

Fund

3,724‌

(695‌)

—‌

26,512‌

Diversified

International

Fund

2,222‌

(4,476‌)

—‌

31,611‌

Diversified

Real

Asset

Fund

5,025‌

(489‌)

10,734‌

(2,613‌)

Equity

Income

Fund

2,650‌

(818‌)

15,379‌

21,029‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

974‌

(189‌)

—‌

5,835‌

Global

Real

Estate

Securities

Fund

220‌

3,909‌

—‌

(2,481‌)

Government

&

High

Quality

Bond

Fund

757‌

(4,264‌)

—‌

10,967‌

High

Yield

Fund

1,670‌

(1,933‌)

—‌

6,305‌

Inflation

Protection

Fund

5,059‌

(1,218‌)

—‌

(1,402‌)

International

Small

Company

Fund

558‌

(108‌)

—‌

6,564‌

LargeCap

Growth

Fund

I

—‌

(606‌)

7,007‌

(2,198‌)

LargeCap

Value

Fund

III

2,095‌

(5,623‌)

9,703‌

316‌

MidCap

Fund

—‌

(7,827‌)

5,534‌

18,135‌

Origin

Emerging

Markets

Fund

4,372‌

(905‌)

—‌

22,315‌

Overseas

Fund

1,737‌

(180‌)

3,700‌

10,300‌

Principal

Capital

Appreciation

Fund

3,196‌

(2,424‌)

—‌

18,681‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

203‌

—‌

—‌

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

172‌

—‌

—‌

—‌

Principal

U.S.

Mega-Cap

ETF

938‌

—‌

—‌

12,581‌

Principal

U.S.

Small-Cap

Multi-Factor

ETF

264‌

4,398‌

—‌

(2,178‌)

Short-Term

Income

Fund

867‌

(138‌)

—‌

3,006‌

Small-

MidCap

Dividend

Income

Fund

—‌

—‌

—‌

2,553‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

3,110‌

(3,094‌)

—‌

15,782‌

$

45,641‌

$

(

28,134‌)

$

55,281‌

$

256,178‌

Amounts

in

thousands.

Schedule

of

Investments

SAM

Conservative

Balanced

Portfolio

January

31,

2023

(unaudited)

See

accompanying

notes.

197

INVESTMENT

COMPANIES

-

100

.04

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

0

.36

%

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b)

6,232,649‌

$

6,233‌

Principal

Exchange-Traded

Funds

-

4

.47

%

Principal

U.S.

Mega-Cap

ETF

(a)

1,670,648‌

63,434‌

Principal

U.S.

Small-Cap

Multi-Factor

ETF

(a)

318,700‌

13,621‌

$

77,055‌

Principal

Funds,

Inc.

Class

R-6

-

52

.65

%

Blue

Chip

Fund

(a),(c)

4,818,039‌

147,914‌

Core

Fixed

Income

Fund

(a)

48,246,013‌

418,775‌

Diversified

International

Fund

(a)

3,611,954‌

44,463‌

Diversified

Real

Asset

Fund

(a)

4,174,634‌

47,800‌

High

Yield

Fund

(a)

6,533,974‌

42,406‌

International

Small

Company

Fund

(a)

1,163,956‌

11,383‌

MidCap

Fund

(a),(c)

895,112‌

30,326‌

Origin

Emerging

Markets

Fund

(a)

4,681,786‌

45,367‌

Small-MidCap

Dividend

Income

Fund

(a)

1,207,502‌

19,936‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a)

10,776,063‌

98,493‌

$

906,863‌

Principal

Funds,

Inc.

Institutional

Class

-

42

.56

%

Bond

Market

Index

Fund

(a)

29,255,600‌

253,353‌

Equity

Income

Fund

(a)

4,094,604‌

151,787‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a)

4,681,027‌

41,193‌

Government

&

High

Quality

Bond

Fund

(a)

4,673,822‌

42,812‌

Inflation

Protection

Fund

(a)

6,951,915‌

54,434‌

Overseas

Fund

(a)

1,721,843‌

17,580‌

Principal

Capital

Appreciation

Fund

(a)

1,605,025‌

93,766‌

Short-Term

Income

Fund

(a)

6,709,389‌

78,164‌

$

733,089‌

TOTAL

INVESTMENT

COMPANIES

$

1,723,240‌

Total

Investments

$

1,723,240‌

Other

Assets

and

Liabilities

-  (0.04)%

(

702‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,722,538‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Current

yield

shown

is

as

of

period

end.

(c)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Fixed

Income

Funds

62

.36‌

%

Domestic

Equity

Funds

30

.23‌

%

International

Equity

Funds

4

.31‌

%

Specialty

Funds

2

.78‌

%

Money

Market

Funds

0

.36‌

%

Other

Assets

and

Liabilities

(

0

.04‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

SAM

Conservative

Balanced

Portfolio

January

31,

2023

(unaudited)

See

accompanying

notes.

198

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

134,086‌

$

5,363‌

$

2,321‌

$

147,914‌

Bond

Market

Index

Fund

239,728‌

7,108‌

4,515‌

253,353‌

Core

Fixed

Income

Fund

313,677‌

92,352‌

5,764‌

418,775‌

Diversified

International

Fund

46,853‌

944‌

9,929‌

44,463‌

Diversified

Real

Asset

Fund

45,193‌

4,528‌

1,143‌

47,800‌

Equity

Income

Fund

148,074‌

8,670‌

12,123‌

151,787‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

37,368‌

1,009‌

1,333‌

41,193‌

Global

Real

Estate

Securities

Fund

9,175‌

224‌

10,103‌

—‌

Government

&

High

Quality

Bond

Fund

79,116‌

1,013‌

41,898‌

42,812‌

High

Yield

Fund

48,844‌

1,173‌

9,534‌

42,406‌

Inflation

Protection

Fund

54,988‌

3,693‌

2,572‌

54,434‌

International

Small

Company

Fund

10,469‌

285‌

981‌

11,383‌

MidCap

Fund

44,649‌

1,847‌

18,465‌

30,326‌

Origin

Emerging

Markets

Fund

34,023‌

6,524‌

569‌

45,367‌

Overseas

Fund

10,712‌

5,382‌

338‌

17,580‌

Principal

Capital

Appreciation

Fund

89,850‌

1,891‌

2,426‌

93,766‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

—‌

23,813‌

17,580‌

6,233‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

15,062‌

77‌

15,139‌

—‌

Principal

U.S.

Mega-Cap

ETF

60,311‌

—‌

—‌

63,434‌

Principal

U.S.

Small-Cap

Multi-Factor

ETF

13,865‌

—‌

928‌

13,621‌

Short-Term

Income

Fund

77,296‌

1,308‌

2,185‌

78,164‌

Small-MidCap

Dividend

Income

Fund

—‌

19,296‌

—‌

19,936‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

102,291‌

2,361‌

12,768‌

98,493‌

$

1,615,630‌

$

188,861‌

$

172,614‌

$

1,723,240‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

599‌

)

$

936‌

$

11,385‌

Bond

Market

Index

Fund

4,016‌

(

236‌

)

—‌

11,268‌

Core

Fixed

Income

Fund

2,667‌

(

997‌

)

—‌

19,507‌

Diversified

International

Fund

550‌

(

1,743‌

)

—‌

8,338‌

Diversified

Real

Asset

Fund

1,247‌

(

105‌

)

2,664‌

(

673‌

)

Equity

Income

Fund

940‌

(

536‌

)

5,453‌

7,702‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

716‌

(

297‌

)

—‌

4,446‌

Global

Real

Estate

Securities

Fund

111‌

1,629‌

—‌

(

925‌

)

Government

&

High

Quality

Bond

Fund

529‌

(

4,708‌

)

—‌

9,289‌

High

Yield

Fund

731‌

(

861‌

)

—‌

2,784‌

Inflation

Protection

Fund

3,274‌

(

252‌

)

—‌

(

1,423‌

)

International

Small

Company

Fund

139‌

(

106‌

)

—‌

1,716‌

MidCap

Fund

—‌

(

4,620‌

)

1,380‌

6,915‌

Origin

Emerging

Markets

Fund

1,094‌

(

282‌

)

—‌

5,671‌

Overseas

Fund

295‌

(

35‌

)

628‌

1,859‌

Principal

Capital

Appreciation

Fund

875‌

(

421‌

)

—‌

4,872‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

84‌

—‌

—‌

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

63‌

—‌

—‌

—‌

Principal

U.S.

Mega-Cap

ETF

233‌

—‌

—‌

3,123‌

Principal

U.S.

Small-Cap

Multi-Factor

ETF

68‌

360‌

—‌

324‌

Short-Term

Income

Fund

528‌

(

118‌

)

—‌

1,863‌

Small-MidCap

Dividend

Income

Fund

—‌

—‌

—‌

640‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

1,623‌

(

1,722‌

)

—‌

8,331‌

$

19,783‌

$

(

15,649‌

)

$

11,061‌

$

107,012‌

Amounts

in

thousands.

Schedule

of

Investments

SAM

Conservative

Growth

Portfolio

January

31,

2023

(unaudited)

See

accompanying

notes.

199

INVESTMENT

COMPANIES

-

100

.07

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

0

.91

%

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b)

26,475,693‌

$

26,476‌

Principal

Exchange-Traded

Funds

-

9

.49

%

Principal

U.S.

Mega-Cap

ETF

(a)

6,187,445‌

234,937‌

Principal

U.S.

Small-Cap

Multi-Factor

ETF

(a)

955,800‌

40,851‌

$

275,788‌

Principal

Funds,

Inc.

Class

R-6

-

52

.98

%

Blue

Chip

Fund

(a),(c)

14,768,550‌

453,395‌

Core

Fixed

Income

Fund

(a)

20,355,984‌

176,690‌

Diversified

International

Fund

(a)

14,945,338‌

183,977‌

Diversified

Real

Asset

Fund

(a)

12,016,280‌

137,586‌

High

Yield

Fund

(a)

4,330,157‌

28,103‌

International

Small

Company

Fund

(a)

4,383,031‌

42,866‌

LargeCap

Growth

Fund

I

(a),(c)

5,277,422‌

75,362‌

MidCap

Fund

(a),(c)

4,194,369‌

142,105‌

Origin

Emerging

Markets

Fund

(a)

16,426,622‌

159,174‌

Small-MidCap

Dividend

Income

Fund

(a)

5,166,470‌

85,298‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a)

5,962,631‌

54,498‌

$

1,539,054‌

Principal

Funds,

Inc.

Institutional

Class

-

36

.69

%

Bond

Market

Index

Fund

(a)

12,174,732‌

105,433‌

Equity

Income

Fund

(a)

10,381,370‌

384,838‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a)

2,672,936‌

23,522‌

Government

&

High

Quality

Bond

Fund

(a)

2,125,754‌

19,472‌

Inflation

Protection

Fund

(a)

2,480,901‌

19,426‌

LargeCap

Value

Fund

III

(a)

5,286,379‌

93,040‌

Overseas

Fund

(a)

7,021,581‌

71,690‌

Principal

Capital

Appreciation

Fund

(a)

5,422,197‌

316,765‌

Short-Term

Income

Fund

(a)

2,724,573‌

31,741‌

$

1,065,927‌

TOTAL

INVESTMENT

COMPANIES

$

2,907,245‌

Total

Investments

$

2,907,245‌

Other

Assets

and

Liabilities

-  (0.07)%

(

2,088‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,905,157‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Current

yield

shown

is

as

of

period

end.

(c)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

62

.87‌

%

Fixed

Income

Funds

22

.13‌

%

International

Equity

Funds

9

.42‌

%

Specialty

Funds

4

.74‌

%

Money

Market

Funds

0

.91‌

%

Other

Assets

and

Liabilities

(

0

.07‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

SAM

Conservative

Growth

Portfolio

January

31,

2023

(unaudited)

See

accompanying

notes.

200

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

415,457‌

$

11,275‌

$

6,396‌

$

453,395‌

Bond

Market

Index

Fund

98,574‌

3,348‌

1,064‌

105,433‌

Core

Fixed

Income

Fund

132,873‌

38,030‌

2,071‌

176,690‌

Diversified

International

Fund

180,883‌

3,204‌

25,938‌

183,977‌

Diversified

Real

Asset

Fund

130,058‌

12,373‌

2,623‌

137,586‌

Equity

Income

Fund

374,988‌

19,330‌

27,551‌

384,838‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

20,977‌

427‌

223‌

23,522‌

Global

Real

Estate

Securities

Fund

12,119‌

329‌

13,409‌

—‌

Government

&

High

Quality

Bond

Fund

27,520‌

393‌

10,142‌

19,472‌

High

Yield

Fund

30,903‌

647‌

4,677‌

28,103‌

Inflation

Protection

Fund

20,114‌

1,662‌

1,806‌

19,426‌

International

Small

Company

Fund

36,910‌

907‌

828‌

42,866‌

LargeCap

Growth

Fund

I

70,100‌

9,538‌

1,318‌

75,362‌

LargeCap

Value

Fund

III

116,273‌

11,390‌

29,914‌

93,040‌

MidCap

Fund

171,041‌

6,276‌

44,592‌

142,105‌

Origin

Emerging

Markets

Fund

123,270‌

17,997‌

1,595‌

159,174‌

Overseas

Fund

47,908‌

17,055‌

1,182‌

71,690‌

Principal

Capital

Appreciation

Fund

305,429‌

5,643‌

9,356‌

316,765‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

—‌

62,316‌

35,840‌

26,476‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

24,693‌

125‌

24,818‌

—‌

Principal

U.S.

Mega-Cap

ETF

223,366‌

—‌

—‌

234,937‌

Principal

U.S.

Small-Cap

Multi-Factor

ETF

57,290‌

—‌

18,427‌

40,851‌

Short-Term

Income

Fund

30,935‌

723‌

623‌

31,741‌

Small-MidCap

Dividend

Income

Fund

—‌

82,610‌

—‌

85,298‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

54,755‌

1,297‌

5,107‌

54,498‌

$

2,706,436‌

$

306,895‌

$

269,500‌

$

2,907,245‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

1,767‌

)

$

2,904‌

$

34,826‌

Bond

Market

Index

Fund

1,667‌

(

49‌

)

—‌

4,624‌

Core

Fixed

Income

Fund

1,130‌

(

361‌

)

—‌

8,219‌

Diversified

International

Fund

2,104‌

(

2,562‌

)

—‌

28,390‌

Diversified

Real

Asset

Fund

3,588‌

(

325‌

)

7,673‌

(

1,897‌

)

Equity

Income

Fund

2,381‌

(

875‌

)

13,833‌

18,946‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

405‌

(

45‌

)

—‌

2,386‌

Global

Real

Estate

Securities

Fund

150‌

515‌

—‌

446‌

Government

&

High

Quality

Bond

Fund

196‌

(

1,070‌

)

—‌

2,771‌

High

Yield

Fund

469‌

(

573‌

)

—‌

1,803‌

Inflation

Protection

Fund

1,112‌

(

60‌

)

—‌

(

484‌

)

International

Small

Company

Fund

506‌

(

209‌

)

—‌

6,086‌

LargeCap

Growth

Fund

I

—‌

(

623‌

)

7,027‌

(

2,335‌

)

LargeCap

Value

Fund

III

1,926‌

(

3,527‌

)

8,936‌

(

1,182‌

)

MidCap

Fund

—‌

(

10,705‌

)

5,294‌

20,085‌

Origin

Emerging

Markets

Fund

3,983‌

(

795‌

)

—‌

20,297‌

Overseas

Fund

1,318‌

(

205‌

)

2,814‌

8,114‌

Principal

Capital

Appreciation

Fund

2,964‌

(

2,705‌

)

—‌

17,754‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

185‌

—‌

—‌

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

103‌

—‌

—‌

—‌

Principal

U.S.

Mega-Cap

ETF

862‌

—‌

—‌

11,571‌

Principal

U.S.

Small-Cap

Multi-Factor

ETF

280‌

7,139‌

—‌

(

5,151‌

)

Short-Term

Income

Fund

213‌

(

39‌

)

—‌

745‌

Small-MidCap

Dividend

Income

Fund

—‌

—‌

—‌

2,688‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

877‌

(

731‌

)

—‌

4,284‌

$

26,419‌

$

(

19,572‌

)

$

48,481‌

$

182,986‌

Amounts

in

thousands.

Schedule

of

Investments

SAM

Flexible

Income

Portfolio

January

31,

2023

(unaudited)

See

accompanying

notes.

201

INVESTMENT

COMPANIES

-

100

.05

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

0

.71

%

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b)

17,960,202‌

$

17,960‌

Principal

Exchange-Traded

Funds

-

4

.10

%

Principal

Active

High

Yield

ETF

(a)

2,073,084‌

38,300‌

Principal

U.S.

Mega-Cap

ETF

(a)

1,740,095‌

66,072‌

$

104,372‌

Principal

Funds,

Inc.

Class

R-6

-

47

.03

%

Blue

Chip

Fund

(a),(c)

3,331,299‌

102,271‌

Core

Fixed

Income

Fund

(a)

86,561,006‌

751,350‌

Diversified

International

Fund

(a)

4,819,645‌

59,330‌

Global

Real

Estate

Securities

Fund

(a)

1,452,008‌

13,663‌

High

Yield

Fund

(a)

5,457,812‌

35,421‌

Origin

Emerging

Markets

Fund

(a)

2,294,440‌

22,233‌

Small-MidCap

Dividend

Income

Fund

(a)

3,192,516‌

52,708‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

(a)

17,454,779‌

159,537‌

$

1,196,513‌

Principal

Funds,

Inc.

Institutional

Class

-

48

.21

%

Bond

Market

Index

Fund

(a)

62,970,165‌

545,322‌

Equity

Income

Fund

(a)

4,047,985‌

150,059‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

(a)

5,876,736‌

51,715‌

Government

&

High

Quality

Bond

Fund

(a)

12,373,348‌

113,340‌

Inflation

Protection

Fund

(a)

15,221,878‌

119,187‌

Principal

Capital

Appreciation

Fund

(a)

1,639,050‌

95,753‌

Short-Term

Income

Fund

(a)

12,959,408‌

150,977‌

$

1,226,353‌

TOTAL

INVESTMENT

COMPANIES

$

2,545,198‌

Total

Investments

$

2,545,198‌

Other

Assets

and

Liabilities

-  (0.05)%

(

1,228‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,543,970‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Current

yield

shown

is

as

of

period

end.

(c)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Fixed

Income

Funds

79

.58‌

%

Domestic

Equity

Funds

18

.35‌

%

International

Equity

Funds

1

.41‌

%

Money

Market

Funds

0

.71‌

%

Other

Assets

and

Liabilities

(

0

.05‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

SAM

Flexible

Income

Portfolio

January

31,

2023

(unaudited)

See

accompanying

notes.

202

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

96,311‌

$

1,312‌

$

2,896‌

$

102,271‌

Bond

Market

Index

Fund

504,952‌

31,711‌

14,313‌

545,322‌

Core

Fixed

Income

Fund

638,270‌

91,895‌

15,711‌

751,350‌

Diversified

International

Fund

51,829‌

1,568‌

1,699‌

59,330‌

Equity

Income

Fund

160,898‌

6,924‌

25,106‌

150,059‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

47,215‌

1,012‌

1,723‌

51,715‌

Global

Real

Estate

Securities

Fund

15,109‌

216‌

3,379‌

13,663‌

Government

&

High

Quality

Bond

Fund

159,565‌

1,458‌

57,117‌

113,340‌

High

Yield

Fund

34,379‌

576‌

901‌

35,421‌

Inflation

Protection

Fund

122,655‌

7,506‌

7,259‌

119,187‌

Origin

Emerging

Markets

Fund

16,968‌

3,181‌

575‌

22,233‌

Principal

Active

High

Yield

ETF

51,184‌

—‌

14,636‌

38,300‌

Principal

Capital

Appreciation

Fund

93,156‌

1,018‌

3,010‌

95,753‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

—‌

27,320‌

9,360‌

17,960‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

22,788‌

687‌

23,475‌

—‌

Principal

U.S.

Mega-Cap

ETF

62,817‌

—‌

—‌

66,072‌

Short-Term

Income

Fund

151,067‌

1,297‌

4,791‌

150,977‌

Small-MidCap

Dividend

Income

Fund

32,564‌

19,453‌

1,047‌

52,708‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

184,049‌

3,145‌

39,331‌

159,537‌

$

2,445,776‌

$

200,279‌

$

226,329‌

$

2,545,198‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

487‌

)

$

665‌

$

8,031‌

Bond

Market

Index

Fund

8,336‌

(

740‌

)

—‌

23,712‌

Core

Fixed

Income

Fund

5,240‌

(

2,743‌

)

—‌

39,639‌

Diversified

International

Fund

606‌

(

249‌

)

—‌

7,881‌

Equity

Income

Fund

994‌

(

828‌

)

5,828‌

8,171‌

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

897‌

(

417‌

)

—‌

5,628‌

Global

Real

Estate

Securities

Fund

180‌

400‌

—‌

1,317‌

Government

&

High

Quality

Bond

Fund

1,113‌

(

7,459‌

)

—‌

16,893‌

High

Yield

Fund

533‌

(

79‌

)

—‌

1,446‌

Inflation

Protection

Fund

7,276‌

(

744‌

)

—‌

(

2,971‌

)

Origin

Emerging

Markets

Fund

535‌

(

332‌

)

—‌

2,991‌

Principal

Active

High

Yield

ETF

954‌

(

317‌

)

—‌

2,069‌

Principal

Capital

Appreciation

Fund

905‌

(

831‌

)

—‌

5,420‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

133‌

—‌

—‌

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

96‌

—‌

—‌

—‌

Principal

U.S.

Mega-Cap

ETF

242‌

—‌

—‌

3,255‌

Short-Term

Income

Fund

1,029‌

(

259‌

)

—‌

3,663‌

Small-MidCap

Dividend

Income

Fund

415‌

(

125‌

)

1,324‌

1,863‌

Spectrum

Preferred

and

Capital

Securities

Income

Fund

2,833‌

(

5,655‌

)

—‌

17,329‌

$

32,317‌

$

(

20,865‌

)

$

7,817‌

$

146,337‌

Amounts

in

thousands.

Schedule

of

Investments

SAM

Strategic

Growth

Portfolio

January

31,

2023

(unaudited)

See

accompanying

notes.

203

INVESTMENT

COMPANIES

-

100

.06

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

1

.13

%

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b)

21,897,072‌

$

21,897‌

Principal

Exchange-Traded

Funds

-

10

.85

%

Principal

U.S.

Mega-Cap

ETF

(a)

4,612,800‌

175,148‌

Principal

U.S.

Small-Cap

Multi-Factor

ETF

(a)

821,500‌

35,111‌

$

210,259‌

Principal

Funds,

Inc.

Class

R-6

-

49

.11

%

Blue

Chip

Fund

(a),(c)

11,271,399‌

346,032‌

Diversified

International

Fund

(a)

10,308,845‌

126,902‌

Diversified

Real

Asset

Fund

(a)

4,408,379‌

50,476‌

International

Small

Company

Fund

(a)

4,982,800‌

48,732‌

LargeCap

Growth

Fund

I

(a),(c)

4,396,588‌

62,783‌

MidCap

Fund

(a),(c)

2,935,819‌

99,465‌

Origin

Emerging

Markets

Fund

(a)

14,357,251‌

139,122‌

Small-MidCap

Dividend

Income

Fund

(a)

4,730,021‌

78,093‌

$

951,605‌

Principal

Funds,

Inc.

Institutional

Class

-

38

.97

%

Bond

Market

Index

Fund

(a)

4,818,437‌

41,728‌

Equity

Income

Fund

(a)

7,751,272‌

287,340‌

LargeCap

Value

Fund

III

(a)

4,326,382‌

76,144‌

Overseas

Fund

(a)

9,509,834‌

97,095‌

Principal

Capital

Appreciation

Fund

(a)

4,324,646‌

252,646‌

$

754,953‌

TOTAL

INVESTMENT

COMPANIES

$

1,938,714‌

Total

Investments

$

1,938,714‌

Other

Assets

and

Liabilities

-  (0.06)%

(

1,165‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,937,549‌

(a)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(b)

Current

yield

shown

is

as

of

period

end.

(c)

Non-income

producing

security

Portfolio

Summary  (unaudited)

Fund

Type

Percent

Domestic

Equity

Funds

72

.91‌

%

International

Equity

Funds

14

.70‌

%

Fixed

Income

Funds

8

.71‌

%

Specialty

Funds

2

.61‌

%

Money

Market

Funds

1

.13‌

%

Other

Assets

and

Liabilities

(

0

.06‌

)

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

SAM

Strategic

Growth

Portfolio

January

31,

2023

(unaudited)

See

accompanying

notes.

204

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Blue

Chip

Fund

$

306,500‌

$

18,400‌

$

3,795‌

$

346,032‌

Bond

Market

Index

Fund

51,755‌

986‌

13,461‌

41,728‌

Diversified

International

Fund

128,176‌

2,081‌

21,566‌

126,902‌

Diversified

Real

Asset

Fund

47,373‌

4,663‌

740‌

50,476‌

Equity

Income

Fund

276,930‌

16,632‌

19,789‌

287,340‌

International

Small

Company

Fund

41,923‌

939‌

838‌

48,732‌

LargeCap

Growth

Fund

I

56,726‌

9,062‌

689‌

62,783‌

LargeCap

Value

Fund

III

94,002‌

9,089‌

23,179‌

76,144‌

MidCap

Fund

124,290‌

5,015‌

36,690‌

99,465‌

Origin

Emerging

Markets

Fund

109,410‌

13,691‌

1,311‌

139,122‌

Overseas

Fund

71,864‌

16,706‌

2,927‌

97,095‌

Principal

Capital

Appreciation

Fund

241,878‌

3,241‌

4,489‌

252,646‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

—‌

41,967‌

20,070‌

21,897‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

11,978‌

61‌

12,039‌

—‌

Principal

U.S.

Mega-Cap

ETF

166,522‌

—‌

—‌

175,148‌

Principal

U.S.

Small-Cap

Multi-Factor

ETF

50,014‌

—‌

16,608‌

35,111‌

Small-MidCap

Dividend

Income

Fund

—‌

75,633‌

—‌

78,093‌

$

1,779,341‌

$

218,166‌

$

178,191‌

$

1,938,714‌

Income

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Blue

Chip

Fund

$

—‌

$

(

936‌

)

$

2,151‌

$

25,863‌

Bond

Market

Index

Fund

859‌

(

380‌

)

—‌

2,828‌

Diversified

International

Fund

1,491‌

(

4,443‌

)

—‌

22,654‌

Diversified

Real

Asset

Fund

1,318‌

(

98‌

)

2,818‌

(

722‌

)

Equity

Income

Fund

1,778‌

(

557‌

)

10,307‌

14,124‌

International

Small

Company

Fund

578‌

(

284‌

)

—‌

6,992‌

LargeCap

Growth

Fund

I

—‌

(

71‌

)

5,705‌

(

2,245‌

)

LargeCap

Value

Fund

III

1,565‌

540‌

7,252‌

(

4,308‌

)

MidCap

Fund

—‌

(

8,518‌

)

3,876‌

15,368‌

Origin

Emerging

Markets

Fund

3,554‌

(

126‌

)

—‌

17,458‌

Overseas

Fund

1,960‌

(

493‌

)

4,211‌

11,945‌

Principal

Capital

Appreciation

Fund

2,362‌

(

1,248‌

)

—‌

13,264‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

121‌

—‌

—‌

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

50‌

—‌

—‌

—‌

Principal

U.S.

Mega-Cap

ETF

643‌

—‌

—‌

8,626‌

Principal

U.S.

Small-Cap

Multi-Factor

ETF

244‌

6,435‌

—‌

(

4,730‌

)

Small-MidCap

Dividend

Income

Fund

—‌

—‌

—‌

2,460‌

$

16,523‌

$

(

10,179‌

)

$

36,320‌

$

129,577‌

Amounts

in

thousands.

Schedule

of

Investments

Short-Term

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

205

INVESTMENT

COMPANIES

-

0.54%

Shares

Held

Value

(000's)

Money

Market

Funds

-

0.54%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

3,574,000‌

$

3,574‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(c)

13,760,810‌

13,761‌

$

17,335‌

TOTAL

INVESTMENT

COMPANIES

$

17,335‌

BONDS

-

89.78%

Principal

Amount

(000's)

Value

(000's)

Agriculture

-

0.12%

Bunge

Ltd

Finance

Corp

1.63%,

08/17/2025

(d)

$

4,200‌

$

3,871‌

Airlines

-

0.53%

Alaska

Airlines

2020-1

Class

A

Pass

Through

Trust

4.80%,

02/15/2029

(e)

9,465‌

9,208‌

Delta

Air

Lines

Inc

/

SkyMiles

IP

Ltd

4.50%,

10/20/2025

(e)

7,951‌

7,856‌

$

17,064‌

Automobile

Asset

Backed

Securities

-

5.62%

CPS

Auto

Receivables

Trust

2021-D

0.61%,

10/15/2025

(e)

2,396‌

2,370‌

CPS

Auto

Receivables

Trust

2022-A

0.98%,

04/16/2029

(e)

3,241‌

3,194‌

Ford

Credit

Auto

Owner

Trust

2018-REV2

3.47%,

01/15/2030

(e)

14,600‌

14,483‌

Ford

Credit

Auto

Owner

Trust

2019-REV1

3.52%,

07/15/2030

(e)

11,700‌

11,518‌

Ford

Credit

Auto

Owner

Trust

2020-REV2

1.06%,

04/15/2033

(e)

11,000‌

9,995‌

Ford

Credit

Auto

Owner

Trust

2021-REV1

1.37%,

10/17/2033

(e)

10,250‌

9,265‌

GM

Financial

Consumer

Automobile

Receivables

Trust

2023-1

5.19%,

03/16/2026

6,700‌

6,709‌

Mercedes-Benz

Auto

Receivables

Trust

2023-1

5.09%,

01/15/2026

5,000‌

5,002‌

OneMain

Direct

Auto

Receivables

Trust

2019-1

3.63%,

09/14/2027

(e)

16,750‌

16,259‌

OneMain

Direct

Auto

Receivables

Trust

2021-1

0.87%,

07/14/2028

(e)

27,000‌

25,178‌

OneMain

Direct

Auto

Receivables

Trust

2022-1

4.65%,

03/14/2029

(e)

10,300‌

10,086‌

Santander

Drive

Auto

Receivables

Trust

2022-1

1.36%,

12/16/2024

1,649‌

1,647‌

Santander

Drive

Auto

Receivables

Trust

2022-5

3.98%,

01/15/2025

5,894‌

5,872‌

Toyota

Auto

Loan

Extended

Note

Trust

2019-1

2.56%,

11/25/2031

(e)

17,000‌

16,460‌

Toyota

Auto

Loan

Extended

Note

Trust

2020-1

1.35%,

05/25/2033

(e)

6,100‌

5,664‌

Toyota

Auto

Receivables

2023-A

Owner

Trust

5.05%,

01/15/2026

12,000‌

11,998‌

Westlake

Automobile

Receivables

Trust

2021-1

0.39%,

10/15/2024

(e)

532‌

531‌

0.64%,

03/16/2026

(e)

10,500‌

10,367‌

Westlake

Automobile

Receivables

Trust

2022-2

5.41%,

08/15/2025

(e)

10,983‌

10,940‌

1.00

x

30

Day

Average

Secured

Overnight

Financing

Rate

+

1.13%

World

Omni

Auto

Receivables

Trust

2022-A

1.15%,

04/15/2025

3,930‌

3,882‌

$

181,420‌

Banks

-

16.09%

Bank

of

America

Corp

0.98%,

09/25/2025

(f)

19,500‌

18,183‌

Secured

Overnight

Financing

Rate

+

0.91%

1.20%,

10/24/2026

(f)

19,600‌

17,672‌

Secured

Overnight

Financing

Rate

+

1.01%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Bank

of

America

Corp  

(continued)

1.32%,

06/19/2026

(f)

$

19,400‌

$

17,769‌

Secured

Overnight

Financing

Rate

+

1.15%

4.20%,

08/26/2024

24,500‌

24,231‌

Bank

of

Montreal

0.95%,

01/22/2027

(f)

14,700‌

13,156‌

Secured

Overnight

Financing

Rate

+

0.60%

Bank

of

Nova

Scotia/The

1.30%,

09/15/2026

5,300‌

4,697‌

Barclays

PLC

2.28%,

11/24/2027

(f)

7,308‌

6,551‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.05%

5.30%,

08/09/2026

(f)

7,250‌

7,251‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.30%

BNP

Paribas

SA

3.50%,

03/01/2023

(e)

9,750‌

9,740‌

5.13%,

01/13/2029

(e),(f)

8,400‌

8,470‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.45%

Citigroup

Inc

0.78%,

10/30/2024

(f)

9,600‌

9,281‌

Secured

Overnight

Financing

Rate

+

0.69%

1.12%,

01/28/2027

(f)

19,600‌

17,463‌

Secured

Overnight

Financing

Rate

+

0.77%

4.00%,

08/05/2024

10,750‌

10,663‌

4.04%,

06/01/2024

(f)

4,750‌

4,733‌

3

Month

USD

LIBOR

+

1.02%

Credit

Suisse

Group

AG

2.59%,

09/11/2025

(e),(f)

5,000‌

4,572‌

Secured

Overnight

Financing

Rate

+

1.56%

4.21%,

06/12/2024

(e),(f)

17,900‌

17,609‌

3

Month

USD

LIBOR

+

1.24%

Deutsche

Bank

AG/New

York

NY

0.90%,

05/28/2024

9,200‌

8,695‌

0.96%,

11/08/2023

11,000‌

10,666‌

Fifth

Third

Bancorp

4.30%,

01/16/2024

15,700‌

15,607‌

First

Republic

Bank/CA

1.91%,

02/12/2024

(f)

11,000‌

10,972‌

Secured

Overnight

Financing

Rate

+

0.62%

Goldman

Sachs

Group

Inc

/The

1.22%,

12/06/2023

12,000‌

11,630‌

2.64%,

02/24/2028

(f)

8,600‌

7,885‌

Secured

Overnight

Financing

Rate

+

1.11%

4.48%,

08/23/2028

(f)

10,500‌

10,318‌

Secured

Overnight

Financing

Rate

+

1.73%

5.11%,

12/09/2026

14,700‌

14,283‌

Secured

Overnight

Financing

Rate

+

0.79%

HSBC

Holdings

PLC

2.63%,

11/07/2025

(f)

9,300‌

8,871‌

Secured

Overnight

Financing

Rate

+

1.40%

JPMorgan

Chase

&

Co

1.04%,

02/04/2027

(f)

9,800‌

8,727‌

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

0.70%

1.05%,

11/19/2026

(f)

19,600‌

17,543‌

Secured

Overnight

Financing

Rate

+

0.80%

1.51%,

06/01/2024

(f)

14,700‌

14,524‌

Secured

Overnight

Financing

Rate

+

1.46%

3.88%,

09/10/2024

5,249‌

5,170‌

KeyBank

NA/Cleveland

OH

5.85%,

11/15/2027

14,400‌

15,090‌

Schedule

of

Investments

Short-Term

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

206

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Banks

(continued)

Morgan

Stanley

0.53%,

01/25/2024

$

13,500‌

$

13,487‌

Secured

Overnight

Financing

Rate

+

0.46%

1.59%,

05/04/2027

(f)

10,750‌

9,654‌

Secured

Overnight

Financing

Rate

+

0.88%

2.48%,

01/21/2028

(f)

6,000‌

5,471‌

Secured

Overnight

Financing

Rate

+

1.00%

4.10%,

05/22/2023

10,200‌

10,175‌

5.05%,

01/28/2027

(f)

10,000‌

10,035‌

Secured

Overnight

Financing

Rate

+

1.30%

NatWest

Group

PLC

4.27%,

03/22/2025

(f)

9,750‌

9,624‌

3

Month

USD

LIBOR

+

1.76%

NatWest

Markets

PLC

0.80%,

08/12/2024

(e)

7,800‌

7,305‌

1.60%,

09/29/2026

(e)

9,250‌

8,184‌

Royal

Bank

of

Canada

0.88%,

01/20/2026

14,700‌

13,224‌

Societe

Generale

SA

2.63%,

01/22/2025

(e)

9,700‌

9,207‌

Toronto-Dominion

Bank/The

0.75%,

01/06/2026

14,700‌

13,162‌

Truist

Financial

Corp

1.27%,

03/02/2027

(f)

3,626‌

3,280‌

Secured

Overnight

Financing

Rate

+

0.61%

UBS

Group

AG

1.01%,

07/30/2024

(e),(f)

7,000‌

6,853‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

0.83%

4.49%,

08/05/2025

(d),(e),(f)

15,000‌

14,854‌

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

1.60%

Wells

Fargo

&

Co

2.16%,

02/11/2026

(f)

9,800‌

9,247‌

3

Month

USD

LIBOR

+

0.75%

2.19%,

04/30/2026

(f)

14,600‌

13,735‌

Secured

Overnight

Financing

Rate

+

2.00%

2.41%,

10/30/2025

(f)

10,000‌

9,546‌

Secured

Overnight

Financing

Rate

+

1.09%

$

519,065‌

Beverages

-

0.44%

Keurig

Dr

Pepper

Inc

0.75%,

03/15/2024

14,700‌

14,045‌

Biotechnology

-

1.09%

Gilead

Sciences

Inc

0.75%,

09/29/2023

36,002‌

35,011‌

Building

Materials

-

0.41%

Martin

Marietta

Materials

Inc

4.25%,

07/02/2024

13,455‌

13,362‌

Chemicals

-

0.69%

Celanese

US

Holdings

LLC

3.50%,

05/08/2024

4,800‌

4,698‌

Nutrien

Ltd

5.90%,

11/07/2024

10,000‌

10,159‌

Westlake

Corp

3.60%,

08/15/2026

7,900‌

7,557‌

$

22,414‌

Commercial

Mortgage

Backed

Securities

-

10.50%

Arbor

Multifamily

Mortgage

Securities

Trust

2022-MF4

3.27%,

02/15/2055

(e),(g)

7,000‌

6,567‌

BX

2021-LBA3

Mortgage

Trust

5.15%,

10/15/2036

(e)

14,750‌

14,349‌

1.00

x

1

Month

USD

LIBOR

+

0.69%

BX

Commercial

Mortgage

Trust

2021-21M

5.19%,

10/15/2036

(e)

8,940‌

8,747‌

1.00

x

1

Month

USD

LIBOR

+

0.73%

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Mortgage

Backed

Securities

(continued)

BX

Commercial

Mortgage

Trust

2021-ACNT

5.31%,

11/15/2038

(e)

$

11,000‌

$

10,768‌

1.00

x

1

Month

USD

LIBOR

+

0.85%

BX

Commercial

Mortgage

Trust

2021-SOAR

5.13%,

06/15/2038

(e)

12,108‌

11,809‌

1.00

x

1

Month

USD

LIBOR

+

0.67%

BX

Commercial

Mortgage

Trust

2021-VINO

5.11%,

05/15/2038

(e)

8,200‌

8,004‌

1.00

x

1

Month

USD

LIBOR

+

0.65%

BX

Commercial

Mortgage

Trust

2021-VOLT

5.16%,

09/15/2036

(e)

20,000‌

19,493‌

1.00

x

1

Month

USD

LIBOR

+

0.70%

BX

Commercial

Mortgage

Trust

2021-XL2

5.15%,

10/15/2038

(e)

18,534‌

18,018‌

1.00

x

1

Month

USD

LIBOR

+

0.69%

BX

Trust

2021-BXMF

5.09%,

10/15/2026

(e)

12,000‌

11,666‌

1.00

x

1

Month

USD

LIBOR

+

0.64%

BX

Trust

2021-LGCY

4.97%,

10/15/2036

(e)

20,000‌

19,356‌

1.00

x

1

Month

USD

LIBOR

+

0.51%

Cold

Storage

Trust

2020-ICE5

5.36%,

11/15/2037

(e)

28,900‌

28,466‌

1.00

x

1

Month

USD

LIBOR

+

0.90%

Credit

Suisse

Mortgage

Capital

Certificates

2019-ICE4

5.44%,

05/15/2036

(e)

14,243‌

14,181‌

1.00

x

1

Month

USD

LIBOR

+

0.98%

ELP

Commercial

Mortgage

Trust

2021-ELP

5.16%,

11/15/2038

(e)

15,000‌

14,582‌

1.00

x

1

Month

USD

LIBOR

+

0.70%

Ginnie

Mae

0.06%,

02/16/2055

(g),(h)

29,165‌

33‌

0.20%,

10/16/2054

(g),(h)

18,129‌

243‌

0.31%,

01/16/2054

(g),(h)

6,413‌

37‌

0.32%,

02/16/2048

(g),(h)

9,064‌

70‌

0.32%,

01/16/2055

(g),(h)

45,339‌

279‌

0.32%,

09/16/2055

(g),(h)

7,873‌

71‌

0.78%,

06/16/2045

(g),(h)

16,367‌

246‌

0.87%,

08/16/2042

(g),(h)

1,812‌

4‌

1.30%,

10/16/2051

(g),(h)

1,153‌

35‌

JP

Morgan

Chase

Commercial

Mortgage

Securities

Trust

2021-MHC

5.26%,

04/15/2038

(e)

5,102‌

5,032‌

1.00

x

1

Month

USD

LIBOR

+

0.80%

Life

2021-BMR

Mortgage

Trust

5.16%,

03/15/2038

(e)

16,435‌

16,075‌

1.00

x

1

Month

USD

LIBOR

+

0.70%

Life

2022-BMR

Mortgage

Trust

5.77%,

05/15/2039

(e)

18,400‌

18,193‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

1.30%

MHC

Commercial

Mortgage

Trust

2021-MHC

5.26%,

04/15/2038

(e)

29,200‌

28,679‌

1.00

x

1

Month

USD

LIBOR

+

0.80%

MHC

Trust

2021-MHC2

5.31%,

05/15/2038

(e)

17,000‌

16,702‌

1.00

x

1

Month

USD

LIBOR

+

0.85%

MHP

2021-STOR

5.16%,

07/15/2038

(e)

8,800‌

8,585‌

1.00

x

1

Month

USD

LIBOR

+

0.70%

MHP

2022-MHIL

5.29%,

01/15/2027

(e)

14,332‌

13,883‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

1

Month

+

0.81%

Schedule

of

Investments

Short-Term

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

207

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Commercial

Mortgage

Backed

Securities

(continued)

OPG

Trust

2021-PORT

4.94%,

10/15/2036

(e)

$

11,651‌

$

11,265‌

1.00

x

1

Month

USD

LIBOR

+

0.48%

SREIT

Trust

2021-MFP

5.19%,

11/15/2038

(e)

13,100‌

12,777‌

1.00

x

1

Month

USD

LIBOR

+

0.73%

TPGI

Trust

2021-DGWD

5.16%,

06/15/2026

(e)

21,025‌

20,512‌

1.00

x

1

Month

USD

LIBOR

+

0.70%

$

338,727‌

Computers

-

1.66%

Apple

Inc

1.13%,

05/11/2025

29,800‌

27,753‌

Dell

International

LLC

/

EMC

Corp

5.25%,

02/01/2028

8,400‌

8,470‌

5.45%,

06/15/2023

2,614‌

2,617‌

Hewlett

Packard

Enterprise

Co

4.45%,

10/02/2023

14,700‌

14,643‌

$

53,483‌

Consumer

Products

-

0.24%

Avery

Dennison

Corp

0.85%,

08/15/2024

8,400‌

7,898‌

Diversified

Financial

Services

-

0.64%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

1.65%,

10/29/2024

13,700‌

12,817‌

Capital

One

Financial

Corp

3.90%,

01/29/2024

7,900‌

7,813‌

$

20,630‌

Electric

-

7.50%

AES

Corp/The

1.38%,

01/15/2026

14,600‌

13,162‌

Alliant

Energy

Finance

LLC

1.40%,

03/15/2026

(e)

4,600‌

4,039‌

3.75%,

06/15/2023

(e)

19,500‌

19,393‌

American

Electric

Power

Co

Inc

2.03%,

03/15/2024

11,700‌

11,306‌

4.92%,

11/01/2023

14,700‌

14,643‌

3

Month

USD

LIBOR

+

0.48%

Black

Hills

Corp

1.04%,

08/23/2024

9,500‌

8,924‌

4.25%,

11/30/2023

27,000‌

26,831‌

Dominion

Energy

Inc

3.07%,

08/15/2024

(g)

9,800‌

9,509‌

5.30%,

09/15/2023

14,500‌

14,518‌

3

Month

USD

LIBOR

+

0.53%

DTE

Energy

Co

1.05%,

06/01/2025

4,400‌

4,029‌

2.53%,

10/01/2024

(g)

10,000‌

9,601‌

Duke

Energy

Corp

0.90%,

09/15/2025

9,750‌

8,822‌

Emera

US

Finance

LP

0.83%,

06/15/2024

8,500‌

7,990‌

Entergy

Louisiana

LLC

0.62%,

11/17/2023

4,443‌

4,295‌

0.95%,

10/01/2024

5,500‌

5,170‌

Evergy

Inc

2.45%,

09/15/2024

9,300‌

8,907‌

Florida

Power

&

Light

Co

4.55%,

05/10/2023

4,600‌

4,595‌

Secured

Overnight

Financing

Rate

+

0.25%

Fortis

Inc

/Canada

3.06%,

10/04/2026

14,594‌

13,702‌

Public

Service

Enterprise

Group

Inc

0.80%,

08/15/2025

14,600‌

13,217‌

Southwestern

Electric

Power

Co

1.65%,

03/15/2026

11,600‌

10,546‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Electric

(continued)

Tucson

Electric

Power

Co

3.05%,

03/15/2025

$

4,400‌

$

4,229‌

Vistra

Operations

Co

LLC

3.70%,

01/30/2027

(e)

19,500‌

18,153‌

Xcel

Energy

Inc

1.75%,

03/15/2027

7,000‌

6,299‌

$

241,880‌

Entertainment

-

0.48%

Warnermedia

Holdings

Inc

3.76%,

03/15/2027

(e)

9,300‌

8,716‌

6.10%,

03/15/2024

(e)

6,875‌

6,896‌

Secured

Overnight

Financing

Rate

+

1.78%

$

15,612‌

Food

-

1.34%

Nestle

Holdings

Inc

0.38%,

01/15/2024

(d),(e)

29,000‌

27,799‌

Pilgrim's

Pride

Corp

5.88%,

09/30/2027

(e)

15,400‌

15,281‌

$

43,080‌

Forest

Products

&

Paper

-

0.29%

Georgia-Pacific

LLC

1.75%,

09/30/2025

(e)

10,000‌

9,254‌

Gas

-

0.41%

NiSource

Inc

0.95%,

08/15/2025

14,600‌

13,306‌

Healthcare

-

Services

-

1.73%

Centene

Corp

4.25%,

12/15/2027

16,750‌

16,068‌

HCA

Inc

5.25%,

06/15/2026

25,800‌

25,830‌

Humana

Inc

0.65%,

08/03/2023

14,250‌

13,934‌

$

55,832‌

Home

Builders

-

0.29%

DR

Horton

Inc

2.50%,

10/15/2024

9,800‌

9,426‌

Home

Furnishings

-

0.15%

Panasonic

Holdings

Corp

2.68%,

07/19/2024

(e)

5,000‌

4,811‌

Insurance

-

2.50%

Athene

Global

Funding

0.91%,

08/19/2024

(e)

1,000‌

929‌

1.72%,

01/07/2025

(e)

11,000‌

10,208‌

Five

Corners

Funding

Trust

4.42%,

11/15/2023

(e)

6,250‌

6,205‌

Guardian

Life

Global

Funding

0.88%,

12/10/2025

(e)

8,647‌

7,729‌

1.10%,

06/23/2025

(e)

17,525‌

16,026‌

Markel

Corp

3.50%,

11/01/2027

4,719‌

4,496‌

MassMutual

Global

Funding

II

2.75%,

06/22/2024

(e)

13,000‌

12,638‌

New

York

Life

Global

Funding

2.00%,

01/22/2025

(e)

9,800‌

9,294‌

Northwestern

Mutual

Global

Funding

0.80%,

01/14/2026

(e)

14,500‌

12,987‌

$

80,512‌

Internet

-

0.38%

eBay

Inc

1.40%,

05/10/2026

13,530‌

12,197‌

Media

-

0.50%

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

4.91%,

07/23/2025

9,700‌

9,650‌

Schedule

of

Investments

Short-Term

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

208

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Media

(continued)

Paramount

Global

4.75%,

05/15/2025

$

6,596‌

$

6,545‌

$

16,195‌

Mining

-

0.43%

Anglo

American

Capital

PLC

5.38%,

04/01/2025

(e)

9,600‌

9,594‌

Glencore

Funding

LLC

1.63%,

09/01/2025

(e)

4,750‌

4,355‌

$

13,949‌

Mortgage

Backed

Securities

-

3.05%

Banc

of

America

Funding

2004-1

Trust

5.25%,

02/25/2019

6‌

6‌

CHL

Mortgage

Pass-Through

Trust

2003-46

3.91%,

01/19/2034

(g)

125‌

115‌

Credit

Suisse

First

Boston

Mortgage

Securities

Corp

5.00%,

09/25/2019

3‌

2‌

GS

Mortgage-Backed

Securities

Corp

Trust

2020-PJ3

3.00%,

10/25/2050

(e),(g)

276‌

271‌

GS

Mortgage-Backed

Securities

Corp

Trust

2021-PJ3

2.50%,

08/25/2051

(e),(g)

3,798‌

3,373‌

JP

Morgan

Mortgage

Trust

2004-A3

3.32%,

07/25/2034

(g)

177‌

159‌

JP

Morgan

Mortgage

Trust

2004-S1

5.00%,

09/25/2034

72‌

74‌

JP

Morgan

Mortgage

Trust

2021-1

2.50%,

06/25/2051

(e),(g)

12,977‌

11,655‌

Metlife

Securitization

Trust

2019-1

3.75%,

04/25/2058

(e),(g)

1,862‌

1,813‌

Morgan

Stanley

Residential

Mortgage

Loan

Trust

2020-1

2.50%,

12/25/2050

(e),(g)

5,240‌

4,680‌

Oceanview

Mortgage

Trust

2021-3

2.50%,

06/25/2051

(e),(g)

12,101‌

10,645‌

PHH

Mortgage

Trust

Series

2008-CIM1

6.62%,

06/25/2038

478‌

429‌

1.00

x

1

Month

USD

LIBOR

+

2.25%

PSMC

2021-3

Trust

2.50%,

08/25/2051

(e),(g)

11,401‌

10,080‌

Sequoia

Mortgage

Trust

2020-4

2.50%,

11/25/2050

(e),(g)

7,811‌

7,086‌

Sequoia

Mortgage

Trust

2021-3

2.50%,

05/25/2051

(e),(g)

19,552‌

17,372‌

Sequoia

Mortgage

Trust

2021-4

2.50%,

06/25/2051

(e),(g)

20,880‌

18,461‌

Wells

Fargo

Mortgage

Backed

Securities

2020-2

Trust

3.00%,

12/25/2049

(e),(g)

679‌

662‌

Wells

Fargo

Mortgage

Backed

Securities

2020-3

Trust

3.00%,

06/25/2050

(e),(g)

796‌

758‌

Wells

Fargo

Mortgage

Backed

Securities

2020-4

Trust

3.00%,

07/25/2050

(e),(g)

5,129‌

4,525‌

Wells

Fargo

Mortgage

Backed

Securities

2020-5

Trust

2.50%,

09/25/2050

(e),(g)

4,980‌

4,459‌

Wells

Fargo

Mortgage

Backed

Securities

2021-1

Trust

2.50%,

12/25/2050

(e),(g)

2,043‌

1,813‌

$

98,438‌

Office

&

Business

Equipment

-

0.31%

CDW

LLC

/

CDW

Finance

Corp

2.67%,

12/01/2026

11,000‌

9,890‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Oil

&

Gas

-

0.92%

Chevron

USA

Inc

0.69%,

08/12/2025

$

14,600‌

$

13,309‌

Exxon

Mobil

Corp

2.99%,

03/19/2025

9,800‌

9,528‌

Phillips

66

3.85%,

04/09/2025

6,850‌

6,741‌

$

29,578‌

Other

Asset

Backed

Securities

-

13.66%

AMMC

CLO

15

Ltd

5.91%,

01/15/2032

(e)

21,000‌

20,829‌

1.00

x

3

Month

USD

LIBOR

+

1.12%

Bardot

CLO

Ltd

5.91%,

10/22/2032

(e)

14,250‌

14,110‌

1.00

x

3

Month

USD

LIBOR

+

1.09%

CCG

Receivables

Trust

2019-2

2.11%,

03/15/2027

(e)

187‌

187‌

CCG

Receivables

Trust

2020-1

0.54%,

12/14/2027

(e)

2,911‌

2,859‌

CCG

Receivables

Trust

2021-1

0.30%,

06/14/2027

(e)

8,722‌

8,450‌

CF

Hippolyta

Issuer

LLC

1.53%,

03/15/2061

(e)

30,166‌

26,588‌

1.69%,

07/15/2060

(e)

6,994‌

6,321‌

Dewolf

Park

CLO

Ltd

5.71%,

10/15/2030

(e)

37,000‌

36,602‌

1.00

x

3

Month

USD

LIBOR

+

0.92%

Fortress

Credit

Opportunities

XVII

CLO

Ltd

6.03%,

01/15/2030

(e)

12,010‌

11,850‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.37%

KKR

CLO

18

Ltd

5.73%,

07/18/2030

(e)

20,594‌

20,414‌

1.00

x

3

Month

USD

LIBOR

+

0.94%

KKR

Lending

Partners

III

Clo

LLC

6.19%,

10/20/2030

(e)

10,068‌

9,963‌

1.00

x

3

Month

USD

LIBOR

+

1.38%

6.36%,

10/20/2030

(e)

13,600‌

13,376‌

1.00

x

3

Month

USD

LIBOR

+

1.55%

Lake

Shore

MM

CLO

III

LLC

6.27%,

10/17/2031

(e)

29,500‌

28,947‌

1.00

x

3

Month

USD

LIBOR

+

1.48%

Madison

Park

Funding

XVIII

Ltd

5.76%,

10/21/2030

(e)

20,920‌

20,671‌

1.00

x

3

Month

USD

LIBOR

+

0.94%

Marathon

CLO

X

Ltd

5.61%,

11/15/2029

(e)

8,818‌

8,727‌

1.00

x

3

Month

USD

LIBOR

+

1.00%

Marathon

CLO

XIII

Ltd

6.11%,

04/15/2032

(e)

19,500‌

19,351‌

1.00

x

3

Month

USD

LIBOR

+

1.32%

MMAF

Equipment

Finance

LLC

2020-A

0.74%,

04/09/2024

(e)

1,549‌

1,535‌

MVW

2021-1W

LLC

1.14%,

01/22/2041

(e)

3,930‌

3,590‌

MVW

Owner

Trust

2018-1

3.45%,

01/21/2036

(e)

2,581‌

2,513‌

Oaktree

CLO

2019-4

Ltd

5.93%,

10/20/2032

(e)

30,000‌

29,482‌

1.00

x

3

Month

USD

LIBOR

+

1.12%

Palmer

Square

Loan

Funding

2022-1

Ltd

5.68%,

04/15/2030

(e)

9,856‌

9,772‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.05%

Parliament

Funding

II

ltd

6.06%,

10/20/2031

(e)

10,939‌

10,745‌

1.00

x

3

Month

USD

LIBOR

+

1.25%

Schedule

of

Investments

Short-Term

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

209

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Other

Asset

Backed

Securities

(continued)

PFS

Financing

Corp

0.71%,

04/15/2026

(e)

$

9,750‌

$

9,234‌

0.97%,

02/15/2026

(e)

17,650‌

16,872‌

2.47%,

02/15/2027

(e)

11,750‌

11,171‌

Shackleton

2017-X

CLO

Ltd

5.70%,

04/20/2029

(e)

9,950‌

9,845‌

1.00

x

3

Month

USD

LIBOR

+

0.89%

Stratus

CLO

2021-2

Ltd

5.71%,

12/28/2029

(e)

7,469‌

7,397‌

1.00

x

3

Month

USD

LIBOR

+

0.90%

TCI-Flatiron

CLO

2016-1

Ltd

5.73%,

01/17/2032

(e)

9,715‌

9,643‌

1.00

x

CME

Term

Secured

Overnight

Financing

Rate

3

Month

+

1.10%

T-Mobile

US

Trust

2022-1

4.91%,

05/22/2028

(e)

7,000‌

7,025‌

Trafigura

Securitisation

Finance

PLC

2021-1

1.08%,

01/15/2025

(e)

24,000‌

22,151‌

Verizon

Master

Trust

4.49%,

01/22/2029

(g)

16,000‌

15,977‌

5.23%,

11/22/2027

(g)

12,950‌

13,052‌

Voya

2012-4

Ltd

5.79%,

10/15/2030

(e)

9,472‌

9,373‌

1.00

x

3

Month

USD

LIBOR

+

1.00%

VSE

2018-A

VOI

Mortgage

LLC

3.56%,

02/20/2036

(e)

2,320‌

2,254‌

$

440,876‌

Packaging

&

Containers

-

0.55%

Graphic

Packaging

International

LLC

0.82%,

04/15/2024

(e)

9,700‌

9,204‌

1.51%,

04/15/2026

(e)

9,800‌

8,700‌

$

17,904‌

Pharmaceuticals

-

2.27%

AbbVie

Inc

2.60%,

11/21/2024

6,800‌

6,553‌

Bayer

US

Finance

II

LLC

3.88%,

12/15/2023

(e)

5,800‌

5,727‌

Bristol-Myers

Squibb

Co

0.54%,

11/13/2023

14,700‌

14,218‌

Cigna

Corp

0.61%,

03/15/2024

7,850‌

7,483‌

1.25%,

03/15/2026

14,700‌

13,245‌

GlaxoSmithKline

Capital

PLC

0.53%,

10/01/2023

24,500‌

23,805‌

Novartis

Capital

Corp

1.75%,

02/14/2025

2,200‌

2,088‌

$

73,119‌

Pipelines

-

1.58%

Buckeye

Partners

LP

4.15%,

07/01/2023

11,300‌

11,240‌

Energy

Transfer

LP

4.40%,

03/15/2027

5,250‌

5,123‌

5.55%,

02/15/2028

10,000‌

10,162‌

ONEOK

Partners

LP

5.00%,

09/15/2023

13,600‌

13,608‌

Southeast

Supply

Header

LLC

4.25%,

06/15/2024

(e)

11,634‌

10,994‌

$

51,127‌

REITs

-

3.01%

American

Tower

Trust

#1

3.07%,

03/15/2048

(e)

24,100‌

23,997‌

3.65%,

03/15/2048

(e)

6,300‌

5,918‌

Crown

Castle

Inc

1.35%,

07/15/2025

(d)

8,750‌

8,039‌

CubeSmart

LP

4.00%,

11/15/2025

3,275‌

3,187‌

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

REITs

(continued)

Omega

Healthcare

Investors

Inc

4.50%,

01/15/2025

$

7,250‌

$

7,088‌

4.95%,

04/01/2024

4,750‌

4,713‌

SBA

Tower

Trust

1.63%,

05/15/2051

(e)

19,400‌

16,941‌

1.88%,

07/15/2050

(e)

6,463‌

5,809‌

2.33%,

07/15/2052

(e)

2,800‌

2,393‌

2.84%,

01/15/2050

(e)

10,325‌

9,760‌

Ventas

Realty

LP

3.50%,

04/15/2024

9,400‌

9,193‌

$

97,038‌

Semiconductors

-

0.46%

Microchip

Technology

Inc

4.33%,

06/01/2023

9,800‌

9,769‌

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA

Inc

2.70%,

05/01/2025

5,300‌

5,041‌

$

14,810‌

Software

-

0.29%

Roper

Technologies

Inc

1.00%,

09/15/2025

10,450‌

9,479‌

Student

Loan

Asset

Backed

Securities

-

6.57%

Commonbond

Student

Loan

Trust

2018-BGS

3.56%,

09/25/2045

(e)

2,681‌

2,539‌

Commonbond

Student

Loan

Trust

2018-C-GS

3.87%,

02/25/2046

(e)

3,698‌

3,555‌

Commonbond

Student

Loan

Trust

2019-A-GS

2.54%,

01/25/2047

(e)

6,380‌

5,808‌

Commonbond

Student

Loan

Trust

2020-A-GS

1.98%,

08/25/2050

(e)

2,728‌

2,398‌

Commonbond

Student

Loan

Trust

2021-A-GS

1.20%,

03/25/2052

(e)

11,997‌

9,888‌

Commonbond

Student

Loan

Trust

2021-B-GS

1.17%,

09/25/2051

(e)

3,939‌

3,258‌

EDvestinU

Private

Education

Loan

Issue

No

3

LLC

1.80%,

11/25/2045

(e)

8,825‌

7,689‌

Keycorp

Student

Loan

Trust

2000-b

5.13%,

07/25/2029

100‌

100‌

1.00

x

3

Month

USD

LIBOR

+

0.31%

Laurel

Road

Prime

Student

Loan

Trust

2019-A

2.34%,

10/25/2048

(e)

469‌

454‌

Navient

Private

Education

Refi

Loan

Trust

2019-A

3.42%,

01/15/2043

(e)

1,309‌

1,260‌

Navient

Private

Education

Refi

Loan

Trust

2019-G

2.40%,

10/15/2068

(e)

4,420‌

4,079‌

Navient

Private

Education

Refi

Loan

Trust

2020-D

1.69%,

05/15/2069

(e)

5,701‌

5,176‌

Navient

Private

Education

Refi

Loan

Trust

2020-F

1.22%,

07/15/2069

(e)

3,731‌

3,368‌

Navient

Private

Education

Refi

Loan

Trust

2020-G

1.17%,

09/16/2069

(e)

4,010‌

3,588‌

Navient

Private

Education

Refi

Loan

Trust

2020-H

1.31%,

01/15/2069

(e)

6,015‌

5,523‌

Navient

Private

Education

Refi

Loan

Trust

2021-A

0.84%,

05/15/2069

(e)

4,999‌

4,418‌

Navient

Private

Education

Refi

Loan

Trust

2021-B

0.94%,

07/15/2069

(e)

10,617‌

9,275‌

Navient

Private

Education

Refi

Loan

Trust

2021-c

1.06%,

10/15/2069

(e)

9,802‌

8,595‌

Schedule

of

Investments

Short-Term

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

210

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Student

Loan

Asset

Backed

Securities

(continued)

Navient

Private

Education

Refi

Loan

Trust

2021-E

0.97%,

12/16/2069

(e)

$

13,800‌

$

11,959‌

Navient

Private

Education

Refi

Loan

Trust

2021-F

1.11%,

02/18/2070

(e)

5,773‌

4,937‌

Navient

Private

Education

Refi

Loan

Trust

2022-A

2.23%,

07/15/2070

(e)

5,138‌

4,578‌

Nelnet

Student

Loan

Trust

2021-A

1.36%,

04/20/2062

(e)

24,951‌

22,297‌

Nelnet

Student

Loan

Trust

2021-C

1.32%,

04/20/2062

(e)

8,612‌

7,721‌

Nelnet

Student

Loan

Trust

2021-D

1.63%,

04/20/2062

(e)

11,938‌

10,817‌

SLM

Private

Credit

Student

Loan

Trust

2004-A

5.17%,

06/15/2033

529‌

514‌

1.00

x

3

Month

USD

LIBOR

+

0.40%

SLM

Private

Credit

Student

Loan

Trust

2004-B

5.10%,

03/15/2024

1,341‌

1,338‌

1.00

x

3

Month

USD

LIBOR

+

0.33%

SLM

Private

Credit

Student

Loan

Trust

2006-A

5.06%,

06/15/2039

13,928‌

13,125‌

1.00

x

3

Month

USD

LIBOR

+

0.29%

SLM

Private

Credit

Student

Loan

Trust

2006-B

4.97%,

12/15/2039

8,130‌

7,604‌

1.00

x

3

Month

USD

LIBOR

+

0.20%

SMB

Private

Education

Loan

Trust

2021-A

1.07%,

01/15/2053

(e)

8,671‌

7,580‌

SMB

Private

Education

Loan

Trust

2021-B

1.31%,

07/17/2051

(e)

15,157‌

13,567‌

SMB

Private

Education

Loan

Trust

2021-E

1.68%,

02/15/2051

(e)

15,229‌

13,843‌

SMB

Private

Education

Loan

Trust

2022-C

4.48%,

05/16/2050

(e)

11,210‌

10,975‌

$

211,826‌

Telecommunications

-

2.16%

AT&T

Inc

1.70%,

03/25/2026

9,400‌

8,627‌

5.54%,

02/15/2023

8,525‌

8,527‌

3

Month

USD

LIBOR

+

0.89%

Crown

Castle

Towers

LLC

3.66%,

05/15/2045

(e)

4,187‌

4,027‌

4.24%,

07/15/2048

(e)

1,650‌

1,537‌

Sprint

Spectrum

Co

LLC

/

Sprint

Spectrum

Co

II

LLC

/

Sprint

Spectrum

Co

III

LLC

4.74%,

03/20/2025

(e)

23,094‌

22,910‌

5.15%,

03/20/2028

(e)

9,500‌

9,484‌

Verizon

Communications

Inc

5.10%,

03/20/2026

14,700‌

14,648‌

Secured

Overnight

Financing

Rate

+

0.79%

$

69,760‌

Transportation

-

0.63%

Canadian

Pacific

Railway

Co

1.35%,

12/02/2024

11,000‌

10,337‌

Ryder

System

Inc

1.75%,

09/01/2026

11,000‌

9,839‌

$

20,176‌

Trucking

&

Leasing

-

0

.29%

Penske

Truck

Leasing

Co

Lp

/

PTL

Finance

Corp

3.45%,

07/01/2024

(e)

9,800‌

9,519‌

TOTAL

BONDS

$

2,896,584‌

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

-

9.33%

Principal

Amount

(000's)

Value

(000's)

Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

-

0.00%

3.53%,

09/01/2035

$

21‌

$

21‌

1.00

x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.25%

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Federal

National

Mortgage

Association

(FNMA)

-

0.00%

2.13%,

01/01/2035

$

16‌

$

16‌

1.00

x

12

Month

USD

LIBOR

+

1.75%

2.99%,

07/01/2034

5‌

5‌

1.00

x

12

Month

USD

LIBOR

+

1.67%

3.42%,

02/01/2037

30‌

29‌

1.00

x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.06%

3.50%,

02/01/2035

9‌

9‌

1.00

x

6

Month

USD

LIBOR

+

2.06%

3.81%,

08/01/2034

12‌

12‌

1.00

x

12

Month

USD

LIBOR

+

1.63%

3.83%,

07/01/2034

14‌

14‌

1.00

x

12

Month

USD

LIBOR

+

1.58%

3.93%,

10/01/2035

36‌

36‌

1.00

x

12

Month

USD

LIBOR

+

1.68%

4.02%,

12/01/2032

9‌

9‌

1.00

x

12

Month

USD

LIBOR

+

1.64%

4.42%,

11/01/2032

4‌

4‌

1.00

x

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

1

Year

+

2.29%

5.13%,

11/01/2035

1‌

1‌

1.00

x

11th

District

Monthly

Weighted

Average

Cost

of

Funds

Replacement

Index

+

1.25%

$

135‌

Federal

National

Mortgage

Association

(FNMA)/Federal

Home

Loan

Mortgage

Corporation

(FHLMC)

Uniform

Mortgage-Backed

Security

-

0.00%

7.50%,

10/01/2029

2‌

2‌

$

2‌

U.S.

Treasury

-

9.33%

0.25%,

07/31/2025

27,300‌

24,903‌

0.63%,

03/31/2027

77,450‌

68,440‌

0.88%,

06/30/2026

61,000‌

55,358‌

1.25%,

11/30/2026

30,000‌

27,360‌

2.25%,

11/15/2027

74,050‌

69,581‌

2.38%,

05/15/2027

58,300‌

55,298‌

$

300,940‌

TOTAL

U.S.

GOVERNMENT

&

GOVERNMENT

AGENCY

OBLIGATIONS

$

301,098‌

Total

Investments

$

3,215,017‌

Other

Assets

and

Liabilities

-  0.35%

11,349‌

TOTAL

NET

ASSETS

-

100.00%

$

3,226,366‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$3,574

or

0.11%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$3,414

or

0.11%

of

net

assets.

(e)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$1,637,749

or

50.76%

of

net

assets.

(f)

Rate

shown

is

as

of

period

end.

The

rate

may

be

a

variable

or

floating

rate

or

a

fixed

rate

which

may

convert

to

a

variable

or

floating

rate

in

the

future.

(g)

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(h)

Security

is

an

Interest

Only

Strip.

Schedule

of

Investments

Short-Term

Income

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

211

Portfolio

Summary  (unaudited)

Sector

Percent

Asset

Backed

Securities

25.85‌%

Financial

22.24‌%

Mortgage

Securities

13.55‌%

Government

9.33‌%

Utilities

7.91‌%

Consumer,

Non-cyclical

7.23‌%

Communications

3.04‌%

Technology

2.72‌%

Energy

2.50‌%

Industrial

1.88‌%

Consumer,

Cyclical

1.45‌%

Basic

Materials

1.41‌%

Money

Market

Funds

0.54‌%

Other

Assets

and

Liabilities

0.35‌%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

187,013‌

$

173,252‌

$

13,761‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

54,001‌

182,546‌

236,547‌

—‌

$

54,001‌

$

369,559‌

$

409,799‌

$

13,761‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

293‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

177‌

—‌

—‌

—‌

$

470‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

US

5

Year

Note;

March

2023

Long

300‌

$

32,773‌

$

(56‌)

Total

$

(56‌)

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

SmallCap

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

212

INVESTMENT

COMPANIES

-

0

.86

%

Shares

Held

Value

(000's)

Money

Market

Funds

-

0

.86

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

2,108,137‌

$

2,108‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(c)

8,634,513‌

8,635‌

$

10,743‌

TOTAL

INVESTMENT

COMPANIES

$

10,743‌

COMMON

STOCKS

-

98

.25

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

1

.10

%

AAR

Corp

(d)

269,500‌

$

13,863‌

Agriculture

-

1

.56

%

Darling

Ingredients

Inc

(d)

234,100‌

15,518‌

Vital

Farms

Inc

(d)

233,600‌

4,107‌

$

19,625‌

Airlines

-

0

.22

%

Sun

Country

Airlines

Holdings

Inc

(d)

146,200‌

2,730‌

Automobile

Parts

&

Equipment

-

0

.90

%

Visteon

Corp

(d)

72,600‌

11,350‌

Banks

-

9

.61

%

Ameris

Bancorp

274,000‌

12,922‌

BancFirst

Corp

62,000‌

5,340‌

Bancorp

Inc/The

(d)

316,500‌

10,739‌

CVB

Financial

Corp

131,300‌

3,180‌

Enterprise

Financial

Services

Corp

154,000‌

8,211‌

First

Interstate

BancSystem

Inc

243,100‌

8,722‌

First

Merchants

Corp

183,500‌

7,824‌

FNB

Corp/PA

894,256‌

12,761‌

Independent

Bank

Corp

28,837‌

2,298‌

Independent

Bank

Corp/MI

135,100‌

2,995‌

Lakeland

Bancorp

Inc

163,600‌

3,153‌

Popular

Inc

116,300‌

7,983‌

Sandy

Spring

Bancorp

Inc

120,200‌

4,063‌

United

Community

Banks

Inc/GA

449,550‌

14,628‌

Webster

Financial

Corp

303,070‌

15,957‌

$

120,776‌

Biotechnology

-

3

.62

%

ADC

Therapeutics

SA

(d)

274,400‌

1,402‌

Allogene

Therapeutics

Inc

(d)

178,100‌

1,375‌

Cellectis

SA

ADR

(d)

514,400‌

1,569‌

Denali

Therapeutics

Inc

(d)

187,400‌

5,673‌

Design

Therapeutics

Inc

(d)

185,400‌

1,455‌

Immunocore

Holdings

PLC

ADR

(d)

133,600‌

8,186‌

Insmed

Inc

(d)

344,000‌

7,406‌

Iovance

Biotherapeutics

Inc

(d)

466,600‌

3,714‌

MacroGenics

Inc

(d)

199,000‌

1,148‌

Olink

Holding

AB

ADR

(d),(e)

248,900‌

4,874‌

Seagen

Inc

(d)

61,900‌

8,634‌

$

45,436‌

Building

Materials

-

1

.95

%

Modine

Manufacturing

Co

(d)

333,162‌

7,960‌

Summit

Materials

Inc

(d)

253,444‌

8,328‌

Trex

Co

Inc

(d)

156,700‌

8,261‌

$

24,549‌

Chemicals

-

0

.85

%

Koppers

Holdings

Inc

128,772‌

4,457‌

Livent

Corp

(d)

238,600‌

6,184‌

$

10,641‌

Commercial

Services

-

3

.15

%

ABM

Industries

Inc

211,954‌

9,943‌

AMN

Healthcare

Services

Inc

(d)

86,600‌

8,300‌

Cross

Country

Healthcare

Inc

(d)

248,450‌

6,895‌

First

Advantage

Corp

(d)

240,800‌

3,342‌

ICF

International

Inc

66,400‌

6,785‌

Medifast

Inc

38,500‌

4,291‌

$

39,556‌

Computers

-

2

.24

%

ExlService

Holdings

Inc

(d)

114,500‌

19,534‌

KnowBe4

Inc

(d)

346,365‌

8,621‌

$

28,155‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Consumer

Products

-

0

.51

%

Central

Garden

&

Pet

Co

-

A

Shares

(d)

161,280‌

$

6,392‌

Cosmetics

&

Personal

Care

-

0

.54

%

Beauty

Health

Co/The

(d)

590,000‌

6,726‌

Distribution

&

Wholesale

-

2

.49

%

Core

&

Main

Inc

(d)

307,204‌

6,780‌

Titan

Machinery

Inc

(d)

175,900‌

7,729‌

WESCO

International

Inc

(d)

112,300‌

16,734‌

$

31,243‌

Diversified

Financial

Services

-

5

.22

%

Encore

Capital

Group

Inc

(d)

214,300‌

11,941‌

Flywire

Corp

(d)

237,300‌

6,400‌

Focus

Financial

Partners

Inc

(d)

282,900‌

12,773‌

Janus

Henderson

Group

PLC

157,900‌

4,093‌

Lazard

Ltd

113,100‌

4,533‌

Moelis

&

Co

82,600‌

3,862‌

Piper

Sandler

Cos

60,409‌

8,584‌

Stifel

Financial

Corp

141,500‌

9,538‌

StoneX

Group

Inc

(d)

43,922‌

3,860‌

$

65,584‌

Electric

-

2

.05

%

Brookfield

Renewable

Corp

319,500‌

10,071‌

Portland

General

Electric

Co

329,800‌

15,692‌

$

25,763‌

Electrical

Components

&

Equipment

-

1

.17

%

EnerSys

176,900‌

14,686‌

Electronics

-

4

.05

%

Advanced

Energy

Industries

Inc

144,900‌

13,438‌

Atkore

Inc

(d)

117,000‌

15,239‌

Mirion

Technologies

Inc

(d)

159,380‌

1,267‌

Mirion

Technologies

Inc

-

Warrants

(d)

179,475‌

280‌

TD

SYNNEX

Corp

103,900‌

10,613‌

Vishay

Intertechnology

Inc

437,600‌

10,017‌

$

50,854‌

Energy

-

Alternate

Sources

-

0

.49

%

Array

Technologies

Inc

(d)

278,100‌

6,182‌

Engineering

&

Construction

-

2

.00

%

Dycom

Industries

Inc

(d)

168,474‌

16,067‌

MYR

Group

Inc

(d)

91,500‌

9,064‌

$

25,131‌

Entertainment

-

2

.55

%

Caesars

Entertainment

Inc

(d)

188,700‌

9,824‌

Golden

Entertainment

Inc

(d)

293,200‌

11,581‌

Vail

Resorts

Inc

40,700‌

10,677‌

$

32,082‌

Food

-

1

.20

%

Performance

Food

Group

Co

(d)

245,918‌

15,080‌

Gas

-

1

.08

%

Southwest

Gas

Holdings

Inc

202,090‌

13,526‌

Hand

&

Machine

Tools

-

0

.69

%

Regal

Rexnord

Corp

62,100‌

8,644‌

Healthcare

-

Products

-

3

.80

%

Adaptive

Biotechnologies

Corp

(d)

341,800‌

3,169‌

Castle

Biosciences

Inc

(d)

320,900‌

8,690‌

Exact

Sciences

Corp

(d)

96,900‌

6,543‌

Natera

Inc

(d)

378,592‌

16,253‌

Nevro

Corp

(d)

136,200‌

5,001‌

STAAR

Surgical

Co

(d)

114,900‌

8,106‌

$

47,762‌

Healthcare

-

Services

-

2

.94

%

Addus

HomeCare

Corp

(d)

120,500‌

12,956‌

Amedisys

Inc

(d)

115,500‌

11,164‌

Aveanna

Healthcare

Holdings

Inc

(d)

595,500‌

726‌

LifeStance

Health

Group

Inc

(d),(e)

868,700‌

4,587‌

Syneos

Health

Inc

(d)

172,400‌

6,193‌

Teladoc

Health

Inc

(d)

42,400‌

1,247‌

$

36,873‌

Schedule

of

Investments

SmallCap

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

213

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Holding

Companies

-

Diversified

-

0

.00

%

Cazoo

Group

Ltd

-

Warrants

(d)

95,725‌

$

1‌

Home

Builders

-

1

.26

%

Taylor

Morrison

Home

Corp

(d)

443,700‌

15,884‌

Insurance

-

2

.27

%

CNO

Financial

Group

Inc

276,600‌

7,125‌

Hanover

Insurance

Group

Inc/The

92,493‌

12,448‌

Primerica

Inc

55,300‌

8,945‌

$

28,518‌

Internet

-

0

.10

%

Lulu's

Fashion

Lounge

Holdings

Inc

(d),(e)

392,200‌

1,267‌

Iron

&

Steel

-

1

.20

%

Commercial

Metals

Co

277,600‌

15,065‌

Leisure

Products

&

Services

-

1

.36

%

Life

Time

Group

Holdings

Inc

(d)

745,200‌

14,002‌

Lindblad

Expeditions

Holdings

Inc

(d)

264,100‌

3,143‌

$

17,145‌

Lodging

-

0

.15

%

Sonder

Holdings

Inc

(d)

1,400,446‌

1,877‌

Machinery

-

Diversified

-

1

.81

%

Chart

Industries

Inc

(d)

129,300‌

17,323‌

Zurn

Elkay

Water

Solutions

Corp

249,800‌

5,461‌

$

22,784‌

Media

-

1

.14

%

World

Wrestling

Entertainment

Inc

168,800‌

14,284‌

Mining

-

0

.63

%

Alcoa

Corp

80,690‌

4,215‌

Piedmont

Lithium

Inc

(d)

53,900‌

3,700‌

$

7,915‌

Miscellaneous

Manufacturers

-

0

.74

%

Hillenbrand

Inc

198,300‌

9,292‌

Oil

&

Gas

-

3

.34

%

California

Resources

Corp

345,500‌

14,763‌

Chord

Energy

Corp

34,400‌

4,931‌

Gulfport

Energy

Corp

(d)

94,200‌

6,420‌

PDC

Energy

Inc

233,900‌

15,842‌

$

41,956‌

Oil

&

Gas

Services

-

2

.37

%

ChampionX

Corp

600,050‌

19,813‌

NexTier

Oilfield

Solutions

Inc

(d)

1,058,791‌

9,974‌

$

29,787‌

Packaging

&

Containers

-

1

.02

%

Graphic

Packaging

Holding

Co

530,400‌

12,777‌

Pharmaceuticals

-

1

.69

%

Collegium

Pharmaceutical

Inc

(d)

341,400‌

9,587‌

Dexcom

Inc

(d)

58,000‌

6,211‌

PMV

Pharmaceuticals

Inc

(d)

220,300‌

1,806‌

Prometheus

Biosciences

Inc

(d)

31,400‌

3,569‌

$

21,173‌

REITs

-

6

.66

%

Agree

Realty

Corp

250,700‌

18,710‌

Cousins

Properties

Inc

400,401‌

10,979‌

First

Industrial

Realty

Trust

Inc

315,740‌

16,845‌

Ladder

Capital

Corp

550,900‌

6,170‌

Pebblebrook

Hotel

Trust

892,236‌

14,633‌

Rexford

Industrial

Realty

Inc

257,800‌

16,362‌

$

83,699‌

Retail

-

5

.19

%

BJ's

Wholesale

Club

Holdings

Inc

(d)

221,351‌

16,041‌

Bloomin'

Brands

Inc

438,600‌

10,636‌

Caleres

Inc

549,700‌

14,303‌

Petco

Health

&

Wellness

Co

Inc

(d)

352,273‌

4,118‌

Portillo's

Inc

(d)

282,400‌

6,371‌

Rush

Enterprises

Inc

-

Class

A

11,580‌

623‌

Sally

Beauty

Holdings

Inc

(d)

472,100‌

7,356‌

World

Fuel

Services

Corp

202,300‌

5,725‌

$

65,173‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Savings

&

Loans

-

0

.55

%

Provident

Financial

Services

Inc

293,400‌

$

6,883‌

Semiconductors

-

2

.54

%

Allegro

MicroSystems

Inc

(d)

442,100‌

16,875‌

Entegris

Inc

109,440‌

8,833‌

SiTime

Corp

(d)

54,200‌

6,245‌

$

31,953‌

Software

-

6

.33

%

Aspen

Technology

Inc

(d)

25,116‌

4,992‌

Bentley

Systems

Inc

72,000‌

2,812‌

Concentrix

Corp

92,900‌

13,174‌

DigitalOcean

Holdings

Inc

(d)

186,700‌

5,480‌

DoubleVerify

Holdings

Inc

(d)

196,447‌

5,341‌

Doximity

Inc

(d)

123,200‌

4,345‌

Jamf

Holding

Corp

(d)

187,500‌

3,726‌

Manhattan

Associates

Inc

(d)

108,800‌

14,183‌

Privia

Health

Group

Inc

(d)

485,590‌

13,130‌

Sophia

Genetics

SA

(d)

198,000‌

594‌

Sprout

Social

Inc

(d)

182,700‌

11,687‌

$

79,464‌

Telecommunications

-

0

.48

%

Credo

Technology

Group

Holding

Ltd

(d)

349,195‌

6,052‌

Transportation

-

1

.44

%

Atlas

Air

Worldwide

Holdings

Inc

(d)

76,600‌

7,829‌

Hub

Group

Inc

(d)

97,200‌

8,288‌

Teekay

Tankers

Ltd

(d)

62,817‌

1,928‌

$

18,045‌

TOTAL

COMMON

STOCKS

$

1,234,203‌

Total

Investments

$

1,244,946‌

Other

Assets

and

Liabilities

-  0.89%

11,228‌

TOTAL

NET

ASSETS

-

100.00%

$

1,256,174‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,108

or

0.17%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$2,093

or

0.17%

of

net

assets.

Portfolio

Summary  (unaudited)

Sector

Percent

Financial

24

.31‌

%

Consumer,

Non-cyclical

19

.01‌

%

Industrial

15

.97‌

%

Consumer,

Cyclical

14

.12‌

%

Technology

11

.11‌

%

Energy

6

.20‌

%

Utilities

3

.13‌

%

Basic

Materials

2

.68‌

%

Communications

1

.72‌

%

Money

Market

Funds

0

.86‌

%

Diversified

0

.00‌

%

Other

Assets

and

Liabilities

0

.89‌

%

TOTAL

NET

ASSETS

100.00%

Schedule

of

Investments

SmallCap

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

214

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

48,981‌

$

40,346‌

$

8,635‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

24,455‌

33,530‌

57,985‌

—‌

$

24,455‌

$

82,511‌

$

98,331‌

$

8,635‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

38‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

34‌

—‌

—‌

—‌

$

72‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

SmallCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

215

INVESTMENT

COMPANIES

-

6

.41

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

1

.05

%

iShares

Russell

2000

Growth

ETF

13,000‌

$

3,068‌

SPDR

S&P

Biotech

ETF

(a)

244,522‌

21,738‌

$

24,806‌

Money

Market

Funds

-

5

.36

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(b),(c)

8,731,349‌

8,731‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(b),(c),(d)

117,994,011‌

117,994‌

$

126,725‌

TOTAL

INVESTMENT

COMPANIES

$

151,531‌

COMMON

STOCKS

-

94

.18

%

Shares

Held

Value

(000's)

Advertising

-

0

.00

%

AdTheorent

Holding

Co

Inc

(e)

4,891‌

$

8‌

Boston

Omaha

Corp

(e)

171‌

5‌

Entravision

Communications

Corp

4,614‌

30‌

Quotient

Technology

Inc

(e)

1,403‌

6‌

Stagwell

Inc

(e)

977‌

7‌

$

56‌

Aerospace

&

Defense

-

1

.57

%

Aerojet

Rocketdyne

Holdings

Inc

(e)

6,342‌

355‌

AeroVironment

Inc

(e)

55,634‌

4,950‌

AEye

Inc

(e)

11,990‌

8‌

Curtiss-Wright

Corp

51,630‌

8,560‌

Hexcel

Corp

182,100‌

12,853‌

Joby

Aviation

Inc

(a),(e)

24,464‌

108‌

Kratos

Defense

&

Security

Solutions

Inc

(e)

496,329‌

5,683‌

Mercury

Systems

Inc

(e)

90,353‌

4,516‌

Momentus

Inc

(e)

2,660‌

2‌

Moog

Inc

506‌

48‌

Redwire

Corp

(e)

425‌

1‌

Rocket

Lab

USA

Inc

(e)

23,106‌

115‌

$

37,199‌

Agriculture

-

0

.22

%

22nd

Century

Group

Inc

(e)

18,263‌

20‌

Benson

Hill

Inc

(e)

8,900‌

24‌

Local

Bounti

Corp

(e)

7,205‌

7‌

Turning

Point

Brands

Inc

1,603‌

37‌

Vector

Group

Ltd

2,196‌

29‌

Vital

Farms

Inc

(e)

289,391‌

5,087‌

$

5,204‌

Airlines

-

0

.17

%

Allegiant

Travel

Co

(e)

722‌

62‌

Frontier

Group

Holdings

Inc

(e)

3,992‌

50‌

Sun

Country

Airlines

Holdings

Inc

(e)

210,586‌

3,932‌

$

4,044‌

Apparel

-

0

.07

%

Crocs

Inc

(e)

6,449‌

785‌

Ermenegildo

Zegna

NV

1,520‌

18‌

Kontoor

Brands

Inc

5,905‌

282‌

Oxford

Industries

Inc

1,115‌

131‌

Rocky

Brands

Inc

57‌

2‌

Steven

Madden

Ltd

8,180‌

293‌

Torrid

Holdings

Inc

(a),(e)

1,172‌

4‌

Wolverine

World

Wide

Inc

8,291‌

134‌

$

1,649‌

Automobile

Manufacturers

-

0

.02

%

Blue

Bird

Corp

(e)

1,865‌

27‌

Canoo

Inc

(a),(e)

17,439‌

21‌

Fisker

Inc

(a),(e)

18,801‌

140‌

Hyzon

Motors

Inc

(a),(e)

9,947‌

21‌

Lightning

eMotors

Inc

(e)

5,269‌

5‌

Mullen

Automotive

Inc

(e)

36,507‌

13‌

Nikola

Corp

(a),(e)

33,302‌

90‌

Proterra

Inc

(e)

10,846‌

55‌

Wabash

National

Corp

4,386‌

113‌

Workhorse

Group

Inc

(a),(e)

15,099‌

33‌

Xos

Inc

(e)

7,493‌

7‌

$

525‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Automobile

Parts

&

Equipment

-

0

.96

%

Aeva

Technologies

Inc

(e)

969‌

$

2‌

American

Axle

&

Manufacturing

Holdings

Inc

(e)

822‌

7‌

Cepton

Inc

(e)

5,204‌

6‌

Dorman

Products

Inc

(e)

2,798‌

272‌

Douglas

Dynamics

Inc

2,403‌

97‌

Fox

Factory

Holding

Corp

(e)

124,380‌

14,688‌

Gentherm

Inc

(e)

3,517‌

262‌

Holley

Inc

(a),(e)

5,840‌

19‌

indie

Semiconductor

Inc

(a),(e)

10,929‌

87‌

Luminar

Technologies

Inc

(a),(e)

26,671‌

178‌

Microvast

Holdings

Inc

(e)

11,322‌

18‌

Miller

Industries

Inc/TN

88‌

3‌

Shyft

Group

Inc/The

3,694‌

123‌

Solid

Power

Inc

(a),(e)

5,878‌

20‌

Titan

International

Inc

(e)

5,478‌

91‌

Visteon

Corp

(e)

31,889‌

4,986‌

XPEL

Inc

(e)

24,837‌

1,889‌

$

22,748‌

Banks

-

1

.44

%

BancFirst

Corp

1,263‌

109‌

Bancorp

Inc/The

(e)

3,411‌

116‌

Bank

of

NT

Butterfield

&

Son

Ltd/The

336‌

11‌

BayCom

Corp

130‌

3‌

Bridgewater

Bancshares

Inc

(e)

492‌

8‌

Cadence

Bank

1,140‌

29‌

Coastal

Financial

Corp/WA

(e)

1,112‌

51‌

Eastern

Bankshares

Inc

3,452‌

56‌

Esquire

Financial

Holdings

Inc

625‌

29‌

Farmers

&

Merchants

Bancorp

Inc/Archbold

OH

428‌

12‌

First

BanCorp/Puerto

Rico

1,558‌

21‌

First

Financial

Bankshares

Inc

294,831‌

10,502‌

First

Guaranty

Bancshares

Inc

88‌

2‌

Five

Star

Bancorp

500‌

13‌

FVCBankcorp

Inc

(e)

96‌

2‌

Glacier

Bancorp

Inc

1,544‌

70‌

Lakeland

Financial

Corp

2,407‌

170‌

Live

Oak

Bancshares

Inc

2,769‌

95‌

Metrocity

Bankshares

Inc

497‌

10‌

Metropolitan

Bank

Holding

Corp

(e)

103‌

6‌

National

Bank

Holdings

Corp

234‌

10‌

Nicolet

Bankshares

Inc

(e)

155‌

11‌

Pathward

Financial

Inc

843‌

42‌

Prosperity

Bancshares

Inc

286,345‌

21,722‌

ServisFirst

Bancshares

Inc

5,331‌

363‌

Silvergate

Capital

Corp

(a),(e)

2,655‌

38‌

Stock

Yards

Bancorp

Inc

2,583‌

155‌

Third

Coast

Bancshares

Inc

(e)

114‌

2‌

Triumph

Financial

Inc

916‌

51‌

Veritex

Holdings

Inc

797‌

22‌

Walker

&

Dunlop

Inc

2,282‌

218‌

West

BanCorp

Inc

376‌

8‌

Westamerica

BanCorp

693‌

38‌

$

33,995‌

Beverages

-

0

.38

%

BRC

Inc

(a),(e)

2,961‌

20‌

Celsius

Holdings

Inc

(e)

69,184‌

6,940‌

Coca-Cola

Consolidated

Inc

499‌

253‌

Duckhorn

Portfolio

Inc/The

(e)

4,455‌

72‌

MGP

Ingredients

Inc

1,500‌

146‌

National

Beverage

Corp

(e)

2,526‌

112‌

Vintage

Wine

Estates

Inc

(e)

628‌

2‌

Vita

Coco

Co

Inc/The

(a),(e)

2,980‌

40‌

Zevia

PBC

(a),(e)

332,379‌

1,489‌

$

9,074‌

Biotechnology

-

7

.79

%

Aadi

Bioscience

Inc

(e)

1,544‌

19‌

Abcam

PLC

ADR

(e)

651,961‌

9,043‌

ACADIA

Pharmaceuticals

Inc

(e)

363,172‌

6,911‌

ADMA

Biologics

Inc

(e)

8,845‌

33‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

216

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Biotechnology

(continued)

Affimed

NV

(e)

15,267‌

$

20‌

Agenus

Inc

(e)

32,181‌

84‌

Akero

Therapeutics

Inc

(e)

265‌

13‌

Albireo

Pharma

Inc

(e)

1,925‌

86‌

Alpine

Immune

Sciences

Inc

(e)

1,133‌

10‌

Amicus

Therapeutics

Inc

(e)

29,323‌

382‌

AN2

Therapeutics

Inc

(e)

126‌

2‌

Anavex

Life

Sciences

Corp

(a),(e)

7,405‌

80‌

ANI

Pharmaceuticals

Inc

(e)

113,002‌

5,055‌

Apellis

Pharmaceuticals

Inc

(e)

9,969‌

526‌

Arbutus

Biopharma

Corp

(e)

6,586‌

20‌

Arcturus

Therapeutics

Holdings

Inc

(e)

2,261‌

48‌

Arcutis

Biotherapeutics

Inc

(e)

4,371‌

72‌

Arrowhead

Pharmaceuticals

Inc

(e)

180,421‌

6,313‌

Atara

Biotherapeutics

Inc

(e)

1,123‌

6‌

Aura

Biosciences

Inc

(e)

1,956‌

20‌

Aurinia

Pharmaceuticals

Inc

(e)

14,374‌

130‌

Avid

Bioservices

Inc

(e)

6,541‌

104‌

Axsome

Therapeutics

Inc

(e)

3,400‌

255‌

Beam

Therapeutics

Inc

(e)

6,752‌

293‌

BioCryst

Pharmaceuticals

Inc

(e)

13,713‌

145‌

Biohaven

Ltd

(a),(e)

51,008‌

974‌

Blueprint

Medicines

Corp

(e)

286,300‌

13,382‌

Bridgebio

Pharma

Inc

(e)

6,957‌

65‌

Cassava

Sciences

Inc

(a),(e)

4,081‌

114‌

Celldex

Therapeutics

Inc

(e)

1,034‌

46‌

Celularity

Inc

(e)

7,597‌

6‌

Cerevel

Therapeutics

Holdings

Inc

(e)

6,083‌

208‌

Certara

Inc

(e)

144,792‌

2,809‌

Crinetics

Pharmaceuticals

Inc

(e)

829‌

16‌

CTI

BioPharma

Corp

(e)

2,217‌

12‌

Cytek

Biosciences

Inc

(e)

12,233‌

147‌

Cytokinetics

Inc

(e)

136,638‌

5,804‌

Deciphera

Pharmaceuticals

Inc

(e)

1,373‌

23‌

Denali

Therapeutics

Inc

(e)

11,568‌

350‌

Dynavax

Technologies

Corp

(e)

12,679‌

144‌

Eiger

BioPharmaceuticals

Inc

(e)

4,523‌

9‌

Esperion

Therapeutics

Inc

(e)

7,816‌

50‌

Evolus

Inc

(e)

3,789‌

39‌

EyePoint

Pharmaceuticals

Inc

(a),(e)

1,601‌

7‌

Fate

Therapeutics

Inc

(e)

8,903‌

53‌

FibroGen

Inc

(e)

8,317‌

196‌

Geron

Corp

(e)

26,625‌

88‌

Gossamer

Bio

Inc

(e)

7,157‌

19‌

GreenLight

Biosciences

Holdings

PBC

(a),(e)

9,873‌

11‌

Guardant

Health

Inc

(e)

152,670‌

4,798‌

Halozyme

Therapeutics

Inc

(e)

14,165‌

733‌

HilleVax

Inc

(e)

341‌

6‌

Humacyte

Inc

(e)

6,578‌

17‌

IGM

Biosciences

Inc

(e)

866‌

20‌

ImmunityBio

Inc

(a),(e)

6,757‌

26‌

ImmunoGen

Inc

(e)

11,360‌

52‌

Inhibrx

Inc

(e)

3,454‌

86‌

Innoviva

Inc

(e)

6,777‌

86‌

Insmed

Inc

(e)

523,233‌

11,265‌

Intellia

Therapeutics

Inc

(e)

127,660‌

5,418‌

Intercept

Pharmaceuticals

Inc

(e)

2,614‌

48‌

Intra-Cellular

Therapies

Inc

(e)

151,460‌

7,258‌

IVERIC

bio

Inc

(e)

497,301‌

11,487‌

Karuna

Therapeutics

Inc

(e)

96,432‌

19,228‌

Karyopharm

Therapeutics

Inc

(e)

8,147‌

27‌

Keros

Therapeutics

Inc

(e)

1,932‌

113‌

Kiniksa

Pharmaceuticals

Ltd

(e)

3,162‌

46‌

Krystal

Biotech

Inc

(e)

756‌

63‌

Legend

Biotech

Corp

ADR

(e)

81,633‌

4,122‌

Lexicon

Pharmaceuticals

Inc

(e)

3,920‌

9‌

Ligand

Pharmaceuticals

Earnout

Shares

(e)

95‌

—‌

Ligand

Pharmaceuticals

Earnout

Shares

(e)

95‌

—‌

Ligand

Pharmaceuticals

Inc

(e)

210‌

15‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Biotechnology

(continued)

Liquidia

Corp

(a),(e)

3,230‌

$

21‌

MeiraGTx

Holdings

plc

(e)

285‌

2‌

NeoGenomics

Inc

(e)

1,310,365‌

15,567‌

NGM

Biopharmaceuticals

Inc

(e)

2,713‌

14‌

Oncternal

Therapeutics

Inc

(e),(f)

139‌

—‌

Organogenesis

Holdings

Inc

(e)

7,570‌

19‌

PepGen

Inc

(e)

346‌

5‌

Phathom

Pharmaceuticals

Inc

(a),(e)

2,598‌

31‌

Point

Biopharma

Global

Inc

(e)

8,513‌

68‌

Praxis

Precision

Medicines

Inc

(e)

442‌

2‌

Precigen

Inc

(e)

9,586‌

16‌

Prime

Medicine

Inc

(e)

492‌

9‌

Prothena

Corp

PLC

(e)

3,891‌

220‌

Provention

Bio

Inc

(e)

5,724‌

50‌

PTC

Therapeutics

Inc

(e)

5,685‌

261‌

Rallybio

Corp

(e)

1,575‌

11‌

RAPT

Therapeutics

Inc

(e)

1,922‌

56‌

Recursion

Pharmaceuticals

Inc

(e)

1,426‌

12‌

Relay

Therapeutics

Inc

(e)

173,272‌

3,718‌

Replimune

Group

Inc

(e)

280,752‌

7,819‌

REVOLUTION

Medicines

Inc

(e)

1,133‌

30‌

Rigel

Pharmaceuticals

Inc

(e)

18,196‌

30‌

Sangamo

Therapeutics

Inc

(e)

1,002‌

3‌

Scilex

Holding

Co

(e)

1,010‌

8‌

Sorrento

Therapeutics

Inc

(e)

7,168‌

7‌

SpringWorks

Therapeutics

Inc

(e)

718‌

23‌

Syndax

Pharmaceuticals

Inc

(e)

1,332‌

38‌

TG

Therapeutics

Inc

(e)

14,272‌

217‌

Theravance

Biopharma

Inc

(e)

6,136‌

66‌

Third

Harmonic

Bio

Inc

(e)

636‌

3‌

Tobira

Therapeutics

Inc

-

Rights

(e),(f)

1,559‌

—‌

TransMedics

Group

Inc

(e)

153,552‌

9,677‌

Travere

Therapeutics

Inc

(e)

5,921‌

133‌

Twist

Bioscience

Corp

(e)

4,174‌

120‌

Ultragenyx

Pharmaceutical

Inc

(e)

172,160‌

7,804‌

United

Therapeutics

Corp

(e)

22,308‌

5,871‌

Vaxart

Inc

(a),(e)

3,433‌

4‌

Ventyx

Biosciences

Inc

(e)

2,642‌

111‌

Vera

Therapeutics

Inc

(e)

1,441‌

12‌

Vericel

Corp

(e)

5,052‌

139‌

Veru

Inc

(e)

6,958‌

40‌

Verve

Therapeutics

Inc

(e)

782‌

18‌

Vir

Biotechnology

Inc

(e)

133,021‌

3,931‌

Viridian

Therapeutics

Inc

(e)

135,676‌

4,955‌

VistaGen

Therapeutics

Inc

(e)

20,913‌

5‌

Zentalis

Pharmaceuticals

Inc

(e)

164,999‌

3,894‌

$

184,205‌

Building

Materials

-

0

.58

%

AAON

Inc

4,659‌

356‌

American

Woodmark

Corp

(e)

125‌

7‌

Apogee

Enterprises

Inc

2,377‌

111‌

Armstrong

World

Industries

Inc

86,051‌

6,661‌

AZEK

Co

Inc/The

(e)

207,853‌

5,015‌

Boise

Cascade

Co

880‌

66‌

Griffon

Corp

2,506‌

102‌

JELD-WEN

Holding

Inc

(e)

3,301‌

42‌

Masonite

International

Corp

(e)

2,379‌

217‌

PGT

Innovations

Inc

(e)

6,186‌

134‌

Simpson

Manufacturing

Co

Inc

4,544‌

487‌

SmartRent

Inc

(e)

12,956‌

38‌

UFP

Industries

Inc

5,565‌

521‌

$

13,757‌

Chemicals

-

1

.61

%

AdvanSix

Inc

985‌

43‌

American

Vanguard

Corp

2,587‌

58‌

Amyris

Inc

(a),(e)

3,073‌

5‌

Avient

Corp

7,110‌

288‌

Balchem

Corp

3,383‌

442‌

Cabot

Corp

5,909‌

445‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

217

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Chemicals

(continued)

Codexis

Inc

(e)

6,555‌

$

40‌

Diversey

Holdings

Ltd

(e)

8,368‌

51‌

Element

Solutions

Inc

400,390‌

8,200‌

Hawkins

Inc

1,266‌

49‌

HB

Fuller

Co

192,242‌

13,284‌

Ingevity

Corp

(e)

3,985‌

329‌

Innospec

Inc

2,245‌

254‌

Kronos

Worldwide

Inc

2,368‌

28‌

Lightwave

Logic

Inc

(a),(e)

11,974‌

75‌

Livent

Corp

(e)

17,235‌

447‌

Mativ

Holdings

Inc

453‌

12‌

Origin

Materials

Inc

(e)

6,894‌

42‌

Orion

Engineered

Carbons

SA

6,478‌

136‌

Quaker

Chemical

Corp

66,927‌

13,176‌

Rogers

Corp

(e)

2,006‌

280‌

Sensient

Technologies

Corp

4,210‌

319‌

Stepan

Co

222‌

24‌

Terawulf

Inc

(e)

1,126‌

1‌

$

38,028‌

Coal

-

0

.03

%

Alpha

Metallurgical

Resources

Inc

1,615‌

260‌

Arch

Resources

Inc

1,573‌

233‌

CONSOL

Energy

Inc

3,432‌

199‌

Ramaco

Resources

Inc

2,395‌

25‌

Warrior

Met

Coal

Inc

618‌

23‌

$

740‌

Commercial

Services

-

7

.56

%

AirSculpt

Technologies

Inc

(a)

1,666‌

10‌

Alarm.com

Holdings

Inc

(e)

5,109‌

274‌

Alta

Equipment

Group

Inc

503‌

9‌

AMN

Healthcare

Services

Inc

(e)

4,597‌

441‌

Arlo

Technologies

Inc

(e)

9,291‌

35‌

ASGN

Inc

(e)

5,213‌

474‌

Barrett

Business

Services

Inc

651‌

65‌

Bright

Horizons

Family

Solutions

Inc

(e)

250,830‌

19,259‌

Brink's

Co/The

4,814‌

316‌

Carriage

Services

Inc

1,417‌

46‌

Cass

Information

Systems

Inc

247‌

12‌

CBIZ

Inc

(e)

5,089‌

242‌

Chegg

Inc

(e)

13,225‌

275‌

Cimpress

PLC

(e)

1,883‌

62‌

Cipher

Mining

Inc

(a),(e)

321‌

—‌

CompoSecure

Inc

(e)

903‌

6‌

CorVel

Corp

(e)

945‌

168‌

Coursera

Inc

(e)

12,225‌

195‌

CRA

International

Inc

739‌

88‌

Cross

Country

Healthcare

Inc

(e)

546‌

15‌

Custom

Truck

One

Source

Inc

(e)

2,046‌

14‌

Distribution

Solutions

Group

Inc

(e)

488‌

20‌

Driven

Brands

Holdings

Inc

(e)

386,227‌

11,274‌

European

Wax

Center

Inc

334,655‌

6,305‌

EVERTEC

Inc

6,491‌

240‌

Evo

Payments

Inc

(e)

229,377‌

7,768‌

First

Advantage

Corp

(e)

198,493‌

2,755‌

Forrester

Research

Inc

(e)

1,206‌

45‌

Franklin

Covey

Co

(e)

1,297‌

60‌

FTI

Consulting

Inc

(e)

112,729‌

17,982‌

Green

Dot

Corp

(e)

582‌

11‌

Hackett

Group

Inc/The

2,590‌

57‌

Healthcare

Services

Group

Inc

3,808‌

51‌

HealthEquity

Inc

(e)

230,627‌

14,034‌

Herc

Holdings

Inc

137,820‌

21,405‌

Huron

Consulting

Group

Inc

(e)

1,246‌

85‌

I3

Verticals

Inc

(e)

41,298‌

1,194‌

ICF

International

Inc

1,385‌

142‌

Information

Services

Group

Inc

1,813‌

9‌

Insperity

Inc

97,373‌

10,765‌

John

Wiley

&

Sons

Inc

4,322‌

198‌

Kforce

Inc

2,097‌

118‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Commercial

Services

(continued)

Korn

Ferry

5,637‌

$

304‌

Legalzoom.com

Inc

(e)

10,276‌

87‌

MarketWise

Inc

(e)

543‌

1‌

Medifast

Inc

1,160‌

129‌

Mister

Car

Wash

Inc

(e)

1,077,991‌

11,071‌

Moneylion

Inc

(e)

1,141‌

1‌

National

Research

Corp

1,501‌

70‌

Paya

Holdings

Inc

(e)

9,373‌

91‌

Payoneer

Global

Inc

(e)

23,202‌

138‌

Priority

Technology

Holdings

Inc

(e)

2,035‌

10‌

PROG

Holdings

Inc

(e)

895‌

20‌

Progyny

Inc

(e)

8,012‌

276‌

R1

RCM

Inc

(e)

16,103‌

230‌

Remitly

Global

Inc

(e)

10,569‌

127‌

Rent

the

Runway

Inc

(e)

4,986‌

21‌

Rent-A-Center

Inc/TX

5,306‌

143‌

Rentokil

Initial

PLC

ADR

306,206‌

9,315‌

Sabre

Corp

(e)

7,160‌

49‌

Shift4

Payments

Inc

(a),(e)

330,612‌

21,173‌

ShotSpotter

Inc

(e)

949‌

37‌

SP

Plus

Corp

(e)

2,132‌

80‌

Sterling

Check

Corp

(e)

2,355‌

33‌

StoneCo

Ltd

(e)

15,444‌

172‌

Stride

Inc

(e)

4,345‌

187‌

Target

Hospitality

Corp

(e)

3,125‌

48‌

Textainer

Group

Holdings

Ltd

654‌

22‌

Transcat

Inc

(e)

757‌

63‌

TriNet

Group

Inc

(e)

80,901‌

6,104‌

Udemy

Inc

(e)

7,728‌

97‌

Universal

Technical

Institute

Inc

(e)

3,541‌

27‌

Vivint

Smart

Home

Inc

(e)

2,586‌

31‌

Wejo

Group

Ltd

(e)

6,723‌

6‌

WEX

Inc

(e)

63,580‌

11,760‌

Willdan

Group

Inc

(e)

149‌

3‌

ZipRecruiter

Inc

(e)

7,747‌

152‌

$

178,602‌

Computers

-

2

.04

%

Cantaloupe

Inc

(e)

3,981‌

20‌

Cerberus

Cyber

Sentinel

Corp

(e)

5,188‌

7‌

Corsair

Gaming

Inc

(e)

2,289‌

36‌

Diebold

Nixdorf

Inc

(e)

6,251‌

15‌

ExlService

Holdings

Inc

(e)

3,438‌

587‌

Genpact

Ltd

454,871‌

21,506‌

Grid

Dynamics

Holdings

Inc

(e)

5,695‌

71‌

Insight

Enterprises

Inc

(e)

2,808‌

317‌

Integral

Ad

Science

Holding

Corp

(e)

1,405‌

14‌

IronNet

Inc

(e)

8,724‌

4‌

Markforged

Holding

Corp

(e)

1,971‌

3‌

Maximus

Inc

6,075‌

455‌

Mitek

Systems

Inc

(e)

4,197‌

41‌

NextNav

Inc

(a),(e)

7,148‌

21‌

OneSpan

Inc

(e)

1,592‌

22‌

PAR

Technology

Corp

(e)

1,059‌

36‌

Qualys

Inc

(e)

4,095‌

472‌

Rapid7

Inc

(e)

113,449‌

4,523‌

Rimini

Street

Inc

(e)

5,204‌

23‌

Super

Micro

Computer

Inc

(e)

136,558‌

9,878‌

Telos

Corp

(e)

5,765‌

28‌

Tenable

Holdings

Inc

(e)

77,478‌

3,117‌

TTEC

Holdings

Inc

2,015‌

102‌

Unisys

Corp

(e)

5,258‌

29‌

Varonis

Systems

Inc

(e)

266,447‌

6,885‌

Velo3D

Inc

(e)

6,390‌

15‌

Vuzix

Corp

(a),(e)

5,532‌

29‌

$

48,256‌

Consumer

Products

-

0

.03

%

Central

Garden

&

Pet

Co

(e)

397‌

17‌

Central

Garden

&

Pet

Co

-

A

Shares

(e)

1,528‌

60‌

Helen

of

Troy

Ltd

(e)

2,521‌

285‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

218

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Consumer

Products

(continued)

Leafly

Holdings

Inc

(e)

3,153‌

$

2‌

WD-40

Co

1,459‌

255‌

$

619‌

Cosmetics

&

Personal

Care

-

0

.03

%

Beauty

Health

Co/The

(e)

8,956‌

102‌

elf

Beauty

Inc

(e)

5,222‌

301‌

Inter

Parfums

Inc

1,919‌

227‌

$

630‌

Distribution

&

Wholesale

-

0

.88

%

Global

Industrial

Co

1,006‌

26‌

H&E

Equipment

Services

Inc

3,414‌

174‌

Hudson

Technologies

Inc

(e)

4,616‌

47‌

IAA

Inc

(e)

137,306‌

5,730‌

MRC

Global

Inc

(e)

8,894‌

121‌

SiteOne

Landscape

Supply

Inc

(e)

95,544‌

14,476‌

ThredUp

Inc

(e)

1,185‌

2‌

Veritiv

Corp

1,383‌

173‌

$

20,749‌

Diversified

Financial

Services

-

2

.82

%

Applied

Digital

Corp

(a),(e)

3,142‌

10‌

Artisan

Partners

Asset

Management

Inc

4,200‌

155‌

Associated

Capital

Group

Inc

13‌

—‌

Atlanticus

Holdings

Corp

(e)

304‌

10‌

Avantax

Inc

(e)

5,096‌

148‌

B

Riley

Financial

Inc

2,196‌

94‌

Brightsphere

Investment

Group

Inc

3,190‌

75‌

Brookfield

Business

Corp

2,454‌

56‌

Cohen

&

Steers

Inc

2,717‌

200‌

Columbia

Financial

Inc

(e)

1,230‌

24‌

Cryptyde

Inc

(e)

1,653‌

—‌

Curo

Group

Holdings

Corp

2,196‌

9‌

Diamond

Hill

Investment

Group

Inc

298‌

56‌

Federated

Hermes

Inc

9,073‌

357‌

Flywire

Corp

(e)

405,672‌

10,941‌

Focus

Financial

Partners

Inc

(e)

6,165‌

278‌

GCM

Grosvenor

Inc

3,792‌

34‌

Hamilton

Lane

Inc

3,813‌

297‌

Hannon

Armstrong

Sustainable

Infrastructure

Capital

Inc

56,269‌

2,077‌

Houlihan

Lokey

Inc

197,183‌

19,535‌

International

Money

Express

Inc

(e)

3,323‌

76‌

LendingClub

Corp

(e)

719‌

7‌

LendingTree

Inc

(e)

1,117‌

44‌

Moelis

&

Co

202,121‌

9,449‌

NerdWallet

Inc

(e)

2,739‌

32‌

Perella

Weinberg

Partners

3,612‌

37‌

PJT

Partners

Inc

2,524‌

202‌

Sculptor

Capital

Management

Inc

1,403‌

13‌

Silvercrest

Asset

Management

Group

Inc

1,054‌

20‌

StepStone

Group

Inc

377,496‌

11,019‌

Stifel

Financial

Corp

166,346‌

11,213‌

StoneX

Group

Inc

(e)

178‌

16‌

Velocity

Financial

Inc

(e)

91‌

1‌

Victory

Capital

Holdings

Inc

547‌

16‌

Virtus

Investment

Partners

Inc

82‌

18‌

WisdomTree

Inc

14,597‌

84‌

World

Acceptance

Corp

(e)

285‌

27‌

$

66,630‌

Electric

-

0

.27

%

Altus

Power

Inc

(e)

1,564‌

13‌

Ameresco

Inc

(e)

85,646‌

5,521‌

Clearway

Energy

Inc

-

Class

A

3,726‌

119‌

Clearway

Energy

Inc

-

Class

C

8,718‌

295‌

FTC

Solar

Inc

(a),(e)

4,796‌

13‌

MGE

Energy

Inc

1,662‌

121‌

Ormat

Technologies

Inc

2,914‌

270‌

Otter

Tail

Corp

1,961‌

126‌

Via

Renewables

Inc

1,467‌

10‌

$

6,488‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Electrical

Components

&

Equipment

-

1

.98

%

Belden

Inc

2,401‌

$

195‌

Blink

Charging

Co

(a),(e)

3,831‌

52‌

Energizer

Holdings

Inc

7,085‌

263‌

EnerSys

492‌

41‌

ESS

Tech

Inc

(a),(e)

8,278‌

18‌

Insteel

Industries

Inc

1,999‌

60‌

Littelfuse

Inc

74,545‌

19,135‌

Novanta

Inc

(e)

99,852‌

16,123‌

Universal

Display

Corp

81,480‌

10,798‌

$

46,685‌

Electronics

-

0

.69

%

Advanced

Energy

Industries

Inc

3,990‌

370‌

Akoustis

Technologies

Inc

(e)

5,598‌

21‌

Allied

Motion

Technologies

Inc

1,299‌

53‌

Atkore

Inc

(e)

4,378‌

570‌

Badger

Meter

Inc

3,106‌

360‌

Berkshire

Grey

Inc

(e)

6,569‌

7‌

Brady

Corp

3,785‌

202‌

Charge

Enterprises

Inc

(e)

13,787‌

19‌

Coherent

Corp

(e)

97,472‌

4,230‌

CTS

Corp

3,392‌

151‌

Enovix

Corp

(a),(e)

11,656‌

93‌

FARO

Technologies

Inc

(e)

185‌

5‌

Identiv

Inc

(e)

2,358‌

21‌

Itron

Inc

(e)

386‌

22‌

Mesa

Laboratories

Inc

536‌

104‌

MicroVision

Inc

(a),(e)

17,707‌

44‌

Napco

Security

Technologies

Inc

(e)

3,141‌

91‌

OSI

Systems

Inc

(e)

198‌

19‌

Plexus

Corp

(e)

2,486‌

239‌

Stoneridge

Inc

(e)

458‌

11‌

Turtle

Beach

Corp

(e)

1,361‌

13‌

Vicor

Corp

(e)

2,354‌

163‌

Woodward

Inc

92,711‌

9,481‌

$

16,289‌

Energy

-

Alternate

Sources

-

0

.51

%

Array

Technologies

Inc

(e)

16,032‌

356‌

Energy

Vault

Holdings

Inc

(a),(e)

8,657‌

37‌

Fluence

Energy

Inc

(a),(e)

3,844‌

93‌

FuelCell

Energy

Inc

(e)

31,370‌

115‌

Heliogen

Inc

(e)

10,910‌

7‌

Montauk

Renewables

Inc

(e)

6,896‌

77‌

Shoals

Technologies

Group

Inc

(e)

395,578‌

11,032‌

Stem

Inc

(e)

14,609‌

144‌

SunPower

Corp

(e)

8,765‌

153‌

TPI

Composites

Inc

(e)

3,914‌

51‌

$

12,065‌

Engineering

&

Construction

-

1

.49

%

908

Devices

Inc

(a),(e)

677‌

6‌

Atlas

Technical

Consultants

Inc

(e)

1,643‌

20‌

Comfort

Systems

USA

Inc

88,593‌

10,723‌

Construction

Partners

Inc

(e)

4,269‌

121‌

Dycom

Industries

Inc

(e)

3,065‌

292‌

EMCOR

Group

Inc

5,023‌

745‌

Exponent

Inc

77,470‌

7,944‌

Fluor

Corp

(e)

13,819‌

508‌

Great

Lakes

Dredge

&

Dock

Corp

(e)

1,811‌

12‌

IES

Holdings

Inc

(e)

625‌

25‌

Latham

Group

Inc

(e)

4,893‌

21‌

MYR

Group

Inc

(e)

1,750‌

173‌

NV5

Global

Inc

(e)

71,028‌

9,468‌

Primoris

Services

Corp

374‌

10‌

Sterling

Infrastructure

Inc

(e)

2,633‌

96‌

TopBuild

Corp

(e)

25,047‌

5,011‌

$

35,175‌

Entertainment

-

1

.68

%

Accel

Entertainment

Inc

(e)

5,922‌

55‌

Churchill

Downs

Inc

105,587‌

26,196‌

Cinemark

Holdings

Inc

(e)

9,200‌

110‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

219

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Entertainment

(continued)

Everi

Holdings

Inc

(e)

523,392‌

$

9,091‌

Golden

Entertainment

Inc

(e)

2,147‌

85‌

IMAX

Corp

(e)

3,028‌

52‌

International

Game

Technology

PLC

2,352‌

62‌

Liberty

Media

Corp-Liberty

Braves

-

A

Shares

(e)

1,065‌

37‌

Liberty

Media

Corp-Liberty

Braves

-

C

Shares

(e)

4,030‌

140‌

Monarch

Casino

&

Resort

Inc

(e)

1,421‌

109‌

NEOGAMES

SA

(e)

1,476‌

19‌

RCI

Hospitality

Holdings

Inc

847‌

77‌

Red

Rock

Resorts

Inc

2,461‌

111‌

Reservoir

Media

Inc

(e)

2,178‌

15‌

Rush

Street

Interactive

Inc

(e)

6,497‌

28‌

SeaWorld

Entertainment

Inc

(e)

55,178‌

3,442‌

$

39,629‌

Environmental

Control

-

2

.17

%

Casella

Waste

Systems

Inc

(e)

55,248‌

4,427‌

Energy

Recovery

Inc

(e)

5,892‌

130‌

Evoqua

Water

Technologies

Corp

(e)

60,645‌

2,942‌

Li-Cycle

Holdings

Corp

(e)

5,603‌

30‌

Montrose

Environmental

Group

Inc

(e)

130,884‌

7,088‌

Pure

Cycle

Corp

(e)

2,079‌

19‌

PureCycle

Technologies

Inc

(a),(e)

9,015‌

76‌

Tetra

Tech

Inc

69,803‌

10,856‌

Waste

Connections

Inc

192,613‌

25,598‌

$

51,166‌

Food

-

1

.92

%

Beyond

Meat

Inc

(a),(e)

6,575‌

108‌

Calavo

Growers

Inc

1,843‌

59‌

Cal-Maine

Foods

Inc

3,737‌

214‌

Chefs'

Warehouse

Inc/The

(e)

311,487‌

11,908‌

Fresh

Market

Inc

-

Escrow

(a),(e),(f)

9,305‌

—‌

Grocery

Outlet

Holding

Corp

(e)

346,470‌

10,529‌

J

&

J

Snack

Foods

Corp

1,614‌

231‌

John

B

Sanfilippo

&

Son

Inc

580‌

49‌

Krispy

Kreme

Inc

2,018‌

25‌

Lancaster

Colony

Corp

1,741‌

334‌

Mission

Produce

Inc

(e)

631‌

8‌

Natural

Grocers

by

Vitamin

Cottage

Inc

930‌

9‌

Simply

Good

Foods

Co/The

(e)

511,262‌

18,559‌

Sprouts

Farmers

Market

Inc

(e)

11,265‌

360‌

SunOpta

Inc

(e)

9,751‌

80‌

Tattooed

Chef

Inc

(a),(e)

5,823‌

9‌

Tootsie

Roll

Industries

Inc

1,422‌

63‌

United

Natural

Foods

Inc

(e)

460‌

19‌

Utz

Brands

Inc

165,955‌

2,765‌

$

45,329‌

Food

Service

-

0

.00

%

Sovos

Brands

Inc

(e)

2,837‌

38‌

Forest

Products

&

Paper

-

0

.01

%

Sylvamo

Corp

3,565‌

169‌

Gas

-

0

.03

%

Brookfield

Infrastructure

Corp

10,411‌

460‌

Chesapeake

Utilities

Corp

1,043‌

132‌

New

Jersey

Resources

Corp

820‌

41‌

Southwest

Gas

Holdings

Inc

647‌

43‌

$

676‌

Hand

&

Machine

Tools

-

0

.53

%

Cadre

Holdings

Inc

2,035‌

47‌

Enerpac

Tool

Group

Corp

6,074‌

161‌

Franklin

Electric

Co

Inc

4,897‌

442‌

Luxfer

Holdings

PLC

1,222‌

20‌

MSA

Safety

Inc

86,111‌

11,745‌

$

12,415‌

Healthcare

-

Products

-

8

.01

%

Adaptive

Biotechnologies

Corp

(e)

766‌

7‌

Akoya

Biosciences

Inc

(e)

1,790‌

20‌

Alphatec

Holdings

Inc

(e)

6,946‌

90‌

Artivion

Inc

(e)

3,536‌

46‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Products

(continued)

AtriCure

Inc

(e)

371,526‌

$

16,080‌

Atrion

Corp

141‌

97‌

Axogen

Inc

(e)

4,339‌

41‌

Axonics

Inc

(e)

5,207‌

320‌

Azenta

Inc

(e)

180,705‌

10,101‌

BioLife

Solutions

Inc

(e)

345‌

8‌

Bruker

Corp

183,970‌

12,900‌

Cardiovascular

Systems

Inc

(e)

2,305‌

32‌

CareDx

Inc

(e)

5,450‌

81‌

Cerus

Corp

(e)

18,471‌

58‌

CONMED

Corp

3,090‌

296‌

Cutera

Inc

(e)

93,410‌

3,254‌

CVRx

Inc

(e)

88,627‌

1,347‌

Embecta

Corp

5,383‌

142‌

Establishment

Labs

Holdings

Inc

(e)

167,851‌

11,421‌

Glaukos

Corp

(e)

4,898‌

240‌

Haemonetics

Corp

(e)

53,337‌

4,513‌

ICU

Medical

Inc

(e)

18,728‌

3,619‌

Inari

Medical

Inc

(e)

277,453‌

15,828‌

Inogen

Inc

(e)

168‌

4‌

Inspire

Medical

Systems

Inc

(e)

3,008‌

761‌

iRadimed

Corp

755‌

28‌

iRhythm

Technologies

Inc

(e)

85,703‌

8,425‌

Lantheus

Holdings

Inc

(e)

344,996‌

19,838‌

LeMaitre

Vascular

Inc

2,083‌

98‌

LivaNova

PLC

(e)

4,351‌

245‌

Merit

Medical

Systems

Inc

(e)

153,262‌

10,935‌

NanoString

Technologies

Inc

(e)

4,453‌

47‌

Natera

Inc

(e)

199,684‌

8,572‌

Neogen

Corp

(e)

21,205‌

454‌

Nevro

Corp

(e)

3,734‌

137‌

NuVasive

Inc

(e)

5,564‌

254‌

OmniAb

Inc

(e)

1,229‌

5‌

Omnicell

Inc

(e)

4,702‌

261‌

Orthofix

Medical

Inc

(e)

109,926‌

2,378‌

OrthoPediatrics

Corp

(e)

188,348‌

8,877‌

Owlet

Inc

(e)

2,217‌

1‌

Paragon

28

Inc

(e)

4,935‌

83‌

Patterson

Cos

Inc

7,348‌

222‌

PROCEPT

BioRobotics

Corp

(e)

2,737‌

106‌

Pulmonx

Corp

(e)

3,659‌

33‌

Quanterix

Corp

(e)

608‌

9‌

Repligen

Corp

(e)

49,022‌

9,084‌

RxSight

Inc

(e)

2,060‌

29‌

Shockwave

Medical

Inc

(e)

3,784‌

711‌

SI-BONE

Inc

(e)

469,766‌

8,000‌

Silk

Road

Medical

Inc

(e)

180,220‌

9,796‌

SomaLogic

Inc

(e)

2,558‌

9‌

STAAR

Surgical

Co

(e)

5,094‌

359‌

Surmodics

Inc

(e)

1,454‌

41‌

Tactile

Systems

Technology

Inc

(e)

860‌

11‌

Teleflex

Inc

10,215‌

2,487‌

Tenon

Medical

Inc

(a),(e)

549‌

1‌

Treace

Medical

Concepts

Inc

(e)

703,887‌

16,252‌

UFP

Technologies

Inc

(e)

727‌

83‌

Utah

Medical

Products

Inc

335‌

31‌

Vicarious

Surgical

Inc

(a),(e)

6,195‌

17‌

ViewRay

Inc

(e)

14,050‌

65‌

Zynex

Inc

(e)

2,362‌

33‌

$

189,323‌

Healthcare

-

Services

-

1

.67

%

23andMe

Holding

Co

(e)

11,727‌

29‌

Accolade

Inc

(e)

562,363‌

6,563‌

Addus

HomeCare

Corp

(e)

646‌

69‌

Agiliti

Inc

(e)

2,980‌

55‌

agilon

health

Inc

(e)

439,863‌

9,571‌

Babylon

Holdings

Ltd/Jersey

(a),(e)

586‌

7‌

Cano

Health

Inc

(e)

17,160‌

24‌

Charles

River

Laboratories

International

Inc

(e)

15,600‌

3,795‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

220

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Services

(continued)

Clover

Health

Investments

Corp

(e)

41,045‌

$

55‌

DocGo

Inc

(e)

474,721‌

4,747‌

Encompass

Health

Corp

175,668‌

10,970‌

Ensign

Group

Inc/The

5,724‌

534‌

Innovage

Holding

Corp

(e)

332‌

2‌

Joint

Corp/The

(e)

1,500‌

27‌

LHC

Group

Inc

(e)

3,166‌

502‌

LifeStance

Health

Group

Inc

(e)

642‌

3‌

Medpace

Holdings

Inc

(e)

2,694‌

596‌

ModivCare

Inc

(e)

416‌

45‌

Nano-X

Imaging

Ltd

(a),(e)

564‌

5‌

Oncology

Institute

Inc/The

(e)

4,682‌

7‌

P3

Health

Partners

Inc

(e)

2,038‌

3‌

Pennant

Group

Inc/The

(e)

2,759‌

36‌

RadNet

Inc

(e)

5,343‌

112‌

Science

37

Holdings

Inc

(e)

7,574‌

4‌

Select

Medical

Holdings

Corp

9,385‌

273‌

Surgery

Partners

Inc

(e)

4,732‌

157‌

Thorne

HealthTech

Inc

(e)

269,615‌

1,243‌

US

Physical

Therapy

Inc

1,371‌

136‌

$

39,570‌

Home

Builders

-

0

.43

%

Cavco

Industries

Inc

(e)

949‌

253‌

Century

Communities

Inc

227‌

14‌

Dream

Finders

Homes

Inc

(a),(e)

2,239‌

28‌

Forestar

Group

Inc

(e)

565‌

9‌

Green

Brick

Partners

Inc

(e)

779‌

24‌

Hovnanian

Enterprises

Inc

(e)

549‌

32‌

Installed

Building

Products

Inc

2,545‌

280‌

KB

Home

1,512‌

58‌

LCI

Industries

2,639‌

296‌

LGI

Homes

Inc

(e)

152‌

17‌

M/I

Homes

Inc

(e)

382‌

23‌

MDC

Holdings

Inc

1,581‌

60‌

Meritage

Homes

Corp

(e)

251‌

27‌

Skyline

Champion

Corp

(e)

150,267‌

8,858‌

Taylor

Morrison

Home

Corp

(e)

1,371‌

49‌

Tri

Pointe

Homes

Inc

(e)

949‌

21‌

$

10,049‌

Home

Furnishings

-

0

.38

%

Arhaus

Inc

(a),(e)

213,152‌

3,016‌

Aterian

Inc

(e)

773‌

1‌

iRobot

Corp

(e)

2,527‌

114‌

Lovesac

Co/The

(e)

66,589‌

1,714‌

Purple

Innovation

Inc

(e)

517‌

3‌

Sleep

Number

Corp

(e)

1,011‌

35‌

Sonos

Inc

(e)

13,571‌

250‌

Vizio

Holding

Corp

(e)

431,620‌

3,781‌

$

8,914‌

Insurance

-

1

.82

%

BRP

Group

Inc

(e)

295,603‌

8,469‌

Doma

Holdings

Inc

(e)

1,963‌

1‌

eHealth

Inc

(e)

936‌

8‌

Goosehead

Insurance

Inc

(e)

1,783‌

70‌

HCI

Group

Inc

683‌

34‌

Investors

Title

Co

26‌

4‌

Kinsale

Capital

Group

Inc

2,298‌

640‌

NMI

Holdings

Inc

(e)

649‌

15‌

Palomar

Holdings

Inc

(e)

144,917‌

7,407‌

RLI

Corp

61,008‌

8,080‌

Ryan

Specialty

Holdings

Inc

(e)

223,254‌

9,515‌

SiriusPoint

Ltd

(e)

1,017‌

8‌

Skyward

Specialty

Insurance

Group

Inc

(e)

118,560‌

2,195‌

Trupanion

Inc

(e)

111,316‌

6,570‌

Universal

Insurance

Holdings

Inc

631‌

8‌

$

43,024‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Internet

-

1

.98

%

aka

Brands

Holding

Corp

(e)

88‌

$

—‌

Allbirds

Inc

(e)

3,417‌

9‌

Angi

Inc

(e)

1,111,203‌

3,234‌

Arena

Group

Holdings

Inc/The

(e)

964‌

9‌

Cargurus

Inc

(e)

10,935‌

193‌

CarParts.com

Inc

(e)

5,436‌

37‌

Cars.com

Inc

(e)

1,032‌

18‌

Cogent

Communications

Holdings

Inc

204,194‌

14,002‌

Couchbase

Inc

(e)

2,998‌

44‌

DHI

Group

Inc

(e)

3,864‌

23‌

Edgio

Inc

(e)

14,319‌

22‌

ePlus

Inc

(e)

2,183‌

109‌

Eventbrite

Inc

(e)

7,249‌

64‌

EverQuote

Inc

(e)

2,097‌

33‌

Figs

Inc

(e)

11,628‌

104‌

Focus

Universal

Inc

(a),(e)

2,011‌

12‌

Gambling.com

Group

Ltd

(e)

983‌

9‌

Groupon

Inc

(a),(e)

279‌

2‌

HealthStream

Inc

(e)

192‌

5‌

Innovid

Corp

(e)

7,668‌

17‌

Liquidity

Services

Inc

(e)

1,382‌

21‌

Lulu's

Fashion

Lounge

Holdings

Inc

(e)

2,240‌

7‌

MakeMyTrip

Ltd

(e)

350,417‌

10,155‌

Marqeta

Inc

(e)

46,123‌

306‌

MediaAlpha

Inc

(e)

2,573‌

36‌

Nerdy

Inc

(e)

6,150‌

17‌

Open

Lending

Corp

(e)

11,303‌

99‌

OptimizeRx

Corp

(e)

1,767‌

32‌

Perficient

Inc

(e)

65,262‌

4,839‌

Pinterest

Inc

(e)

456,109‌

11,991‌

Q2

Holdings

Inc

(e)

5,982‌

196‌

QuinStreet

Inc

(e)

426‌

7‌

RealReal

Inc/The

(e)

1,902‌

3‌

Revolve

Group

Inc

(e)

4,370‌

125‌

Rover

Group

Inc

(a),(e)

9,387‌

38‌

Shutterstock

Inc

2,541‌

191‌

Squarespace

Inc

(e)

888‌

21‌

Stitch

Fix

Inc

(e)

3,673‌

19‌

TechTarget

Inc

(e)

2,866‌

142‌

Tucows

Inc

(e)

1,055‌

35‌

Upwork

Inc

(e)

12,846‌

166‌

Vivid

Seats

Inc

(e)

876‌

7‌

Yelp

Inc

(e)

7,188‌

227‌

Ziff

Davis

Inc

(e)

925‌

83‌

$

46,709‌

Investment

Companies

-

0

.07

%

Trinity

Capital

Inc

(a)

132,510‌

1,774‌

Iron

&

Steel

-

0

.41

%

ATI

Inc

(e)

13,197‌

480‌

Carpenter

Technology

Corp

188,701‌

9,113‌

Commercial

Metals

Co

2,106‌

114‌

Schnitzer

Steel

Industries

Inc

259‌

9‌

$

9,716‌

Leisure

Products

&

Services

-

1

.89

%

Acushnet

Holdings

Corp

1,017‌

48‌

Camping

World

Holdings

Inc

(a)

4,118‌

105‌

Clarus

Corp

543,759‌

5,464‌

F45

Training

Holdings

Inc

(e)

4,107‌

13‌

Life

Time

Group

Holdings

Inc

(a),(e)

549,661‌

10,328‌

Lindblad

Expeditions

Holdings

Inc

(e)

271,342‌

3,229‌

Malibu

Boats

Inc

(e)

2,174‌

132‌

Marine

Products

Corp

943‌

12‌

MasterCraft

Boat

Holdings

Inc

(e)

1,904‌

55‌

OneSpaWorld

Holdings

Ltd

(e)

7,106‌

75‌

Planet

Fitness

Inc

(e)

256,607‌

21,722‌

Virgin

Galactic

Holdings

Inc

(a),(e)

12,214‌

67‌

Xponential

Fitness

Inc

(e)

601‌

16‌

YETI

Holdings

Inc

(e)

77,434‌

3,466‌

$

44,732‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

221

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Lodging

-

1

.06

%

Bluegreen

Vacations

Holding

Corp

207‌

$

7‌

Century

Casinos

Inc

(e)

2,555‌

23‌

Choice

Hotels

International

Inc

73,989‌

9,092‌

Full

House

Resorts

Inc

(e)

1,121‌

10‌

Hilton

Grand

Vacations

Inc

(e)

337,080‌

15,964‌

Sonder

Holdings

Inc

(e)

20,080‌

27‌

$

25,123‌

Machinery

-

Construction

&

Mining

-

0

.16

%

Babcock

&

Wilcox

Enterprises

Inc

(e)

455,121‌

3,022‌

Bloom

Energy

Corp

(e)

19,129‌

477‌

Terex

Corp

3,509‌

179‌

Transphorm

Inc

(e)

2,584‌

12‌

$

3,690‌

Machinery

-

Diversified

-

2

.81

%

Alamo

Group

Inc

913‌

143‌

Albany

International

Corp

650‌

73‌

Applied

Industrial

Technologies

Inc

4,065‌

582‌

Cactus

Inc

401,496‌

21,725‌

Chart

Industries

Inc

(e)

56,126‌

7,520‌

CIRCOR

International

Inc

(e)

600‌

17‌

CSW

Industrials

Inc

1,561‌

211‌

Esab

Corp

190,949‌

11,039‌

Gorman-Rupp

Co/The

468‌

13‌

GrafTech

International

Ltd

20,768‌

136‌

IDEX

Corp

21,366‌

5,121‌

Kadant

Inc

1,239‌

253‌

Lindsay

Corp

1,175‌

184‌

Middleby

Corp/The

(e)

67,160‌

10,440‌

Mueller

Water

Products

Inc

-

Class

A

52,793‌

667‌

Sarcos

Technology

and

Robotics

Corp

(e)

12,261‌

7‌

Tennant

Co

874‌

61‌

Watts

Water

Technologies

Inc

2,905‌

475‌

Zurn

Elkay

Water

Solutions

Corp

357,153‌

7,808‌

$

66,475‌

Media

-

0

.01

%

Gray

Television

Inc

3,855‌

50‌

Sinclair

Broadcast

Group

Inc

4,288‌

88‌

Thryv

Holdings

Inc

(e)

713‌

16‌

Value

Line

Inc

113‌

6‌

WideOpenWest

Inc

(e)

3,290‌

38‌

$

198‌

Metal

Fabrication

&

Hardware

-

0

.47

%

Helios

Technologies

Inc

3,484‌

230‌

Janus

International

Group

Inc

(e)

8,749‌

96‌

Mueller

Industries

Inc

2,154‌

141‌

Northwest

Pipe

Co

(e)

248‌

9‌

Omega

Flex

Inc

344‌

37‌

Proto

Labs

Inc

(e)

501‌

15‌

RBC

Bearings

Inc

(e)

435‌

106‌

Ryerson

Holding

Corp

151‌

6‌

Valmont

Industries

Inc

31,337‌

10,333‌

Xometry

Inc

(a),(e)

3,615‌

127‌

$

11,100‌

Mining

-

0

.04

%

5E

Advanced

Materials

Inc

(e)

4,076‌

40‌

Century

Aluminum

Co

(e)

5,563‌

63‌

Compass

Minerals

International

Inc

3,669‌

171‌

Constellium

SE

(e)

7,216‌

105‌

Dakota

Gold

Corp

(e)

5,487‌

19‌

Energy

Fuels

Inc/Canada

(a),(e)

13,793‌

102‌

Hycroft

Mining

Holding

Corp

(e)

14,127‌

8‌

Ivanhoe

Electric

Inc

/

US

(e)

887‌

12‌

Kaiser

Aluminum

Corp

1,692‌

148‌

Novagold

Resources

Inc

(e)

24,275‌

153‌

Piedmont

Lithium

Inc

(e)

511‌

35‌

United

States

Lime

&

Minerals

Inc

161‌

24‌

Uranium

Energy

Corp

(e)

37,383‌

151‌

Ur-Energy

Inc

(e)

19,923‌

26‌

$

1,057‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Miscellaneous

Manufacturers

-

1

.39

%

Axon

Enterprise

Inc

(e)

50,656‌

$

9,900‌

Chase

Corp

212‌

20‌

ESCO

Technologies

Inc

245‌

24‌

Fabrinet

(e)

3,923‌

516‌

Federal

Signal

Corp

6,348‌

338‌

Hillenbrand

Inc

3,707‌

174‌

ITT

Inc

134,020‌

12,275‌

John

Bean

Technologies

Corp

80,686‌

9,015‌

LSB

Industries

Inc

(e)

7,851‌

100‌

Materion

Corp

2,047‌

185‌

Myers

Industries

Inc

3,883‌

93‌

Sight

Sciences

Inc

(e)

303‌

3‌

Smith

&

Wesson

Brands

Inc

410‌

5‌

Sturm

Ruger

&

Co

Inc

1,669‌

95‌

Trinity

Industries

Inc

1,313‌

38‌

$

32,781‌

Office

&

Business

Equipment

-

0

.00

%

Pitney

Bowes

Inc

18,551‌

80‌

Office

Furnishings

-

0

.01

%

HNI

Corp

4,408‌

140‌

Interface

Inc

4,944‌

56‌

$

196‌

Oil

&

Gas

-

3

.00

%

Amplify

Energy

Corp

(e)

2,948‌

26‌

Battalion

Oil

Corp

(e)

338‌

4‌

Berry

Corp

1,489‌

14‌

Borr

Drilling

Ltd

(a),(e)

9,567‌

57‌

Callon

Petroleum

Co

(e)

4,378‌

186‌

Chord

Energy

Corp

2,618‌

375‌

CNX

Resources

Corp

(e)

1,146‌

19‌

Comstock

Resources

Inc

9,821‌

119‌

Crescent

Energy

Co

(a)

4,156‌

50‌

CVR

Energy

Inc

3,163‌

105‌

Delek

US

Holdings

Inc

7,378‌

197‌

Denbury

Inc

(e)

179,523‌

15,579‌

Earthstone

Energy

Inc

(e)

4,632‌

64‌

Empire

Petroleum

Corp

(e)

1,146‌

15‌

Gulfport

Energy

Corp

(e)

1,158‌

79‌

Helmerich

&

Payne

Inc

218,310‌

10,575‌

HighPeak

Energy

Inc

(a)

763‌

21‌

Kosmos

Energy

Ltd

(e)

47,950‌

379‌

Magnolia

Oil

&

Gas

Corp

18,547‌

438‌

Matador

Resources

Co

350,839‌

23,212‌

Murphy

Oil

Corp

6,843‌

298‌

Nabors

Industries

Ltd

(e)

845‌

150‌

Noble

Corp

PLC

(e)

1,603‌

65‌

Northern

Oil

and

Gas

Inc

227,213‌

7,617‌

Par

Pacific

Holdings

Inc

(e)

5,235‌

140‌

Patterson-UTI

Energy

Inc

15,443‌

260‌

PBF

Energy

Inc

2,348‌

99‌

Permian

Resources

Corp

468,450‌

5,092‌

Ranger

Oil

Corp

2,032‌

85‌

Riley

Exploration

Permian

Inc

695‌

23‌

Ring

Energy

Inc

(a),(e)

3,974‌

9‌

SandRidge

Energy

Inc

(e)

3,400‌

54‌

SilverBow

Resources

Inc

(e)

1,250‌

33‌

Sitio

Royalties

Corp

7,549‌

201‌

SM

Energy

Co

12,878‌

423‌

Southwestern

Energy

Co

(e)

465,500‌

2,570‌

Talos

Energy

Inc

(e)

7,085‌

140‌

Tellurian

Inc

(e)

54,605‌

109‌

VAALCO

Energy

Inc

11,378‌

53‌

Valaris

Ltd

(e)

18,504‌

1,344‌

Vertex

Energy

Inc

(a),(e)

5,123‌

37‌

Vital

Energy

Inc

(e)

1,756‌

99‌

W&T

Offshore

Inc

(e)

8,394‌

52‌

Weatherford

International

PLC

(e)

7,512‌

427‌

$

70,894‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

222

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Oil

&

Gas

Services

-

2

.89

%

Aris

Water

Solution

Inc

273,650‌

$

4,239‌

ChampionX

Corp

1,236,376‌

40,825‌

DMC

Global

Inc

(e)

541‌

12‌

Liberty

Energy

Inc

14,801‌

234‌

NexTier

Oilfield

Solutions

Inc

(e)

18,823‌

177‌

Oceaneering

International

Inc

(e)

9,708‌

207‌

ProFrac

Holding

Corp

(e)

282,561‌

6,358‌

RPC

Inc

7,963‌

79‌

Solaris

Oilfield

Infrastructure

Inc

3,378‌

36‌

TechnipFMC

PLC

(e)

878,190‌

12,198‌

TETRA

Technologies

Inc

(e)

972,938‌

3,853‌

US

Silica

Holdings

Inc

(e)

1,270‌

16‌

$

68,234‌

Packaging

&

Containers

-

0

.01

%

Greif

Inc

-

Class

A

396‌

28‌

Greif

Inc

-

Class

B

106‌

9‌

Karat

Packaging

Inc

642‌

10‌

O-I

Glass

Inc

(e)

13,526‌

260‌

$

307‌

Pharmaceuticals

-

3

.55

%

AbCellera

Biologics

Inc

(e)

9,450‌

99‌

Aclaris

Therapeutics

Inc

(e)

6,917‌

117‌

AdaptHealth

Corp

(e)

303,084‌

6,495‌

Alector

Inc

(e)

6,660‌

59‌

Alkermes

PLC

(e)

209,890‌

6,012‌

Amneal

Pharmaceuticals

Inc

(e)

10,956‌

24‌

Amphastar

Pharmaceuticals

Inc

(e)

4,098‌

124‌

Amylyx

Pharmaceuticals

Inc

(e)

225,632‌

8,842‌

Arvinas

Inc

(e)

150,858‌

4,944‌

Ascendis

Pharma

A/S

ADR

(e)

80,497‌

9,988‌

Beachbody

Co

Inc/The

(e)

2,353‌

1‌

BellRing

Brands

Inc

(e)

14,023‌

398‌

Catalyst

Pharmaceuticals

Inc

(e)

10,264‌

159‌

Chimerix

Inc

(e)

6,383‌

11‌

Coherus

Biosciences

Inc

(e)

423,313‌

3,590‌

Collegium

Pharmaceutical

Inc

(e)

241,084‌

6,769‌

Corcept

Therapeutics

Inc

(e)

9,133‌

209‌

Dova

Pharmaceuticals

Inc

(e),(f)

1,117‌

—‌

Eagle

Pharmaceuticals

Inc/DE

(e)

1,105‌

37‌

Enanta

Pharmaceuticals

Inc

(e)

236‌

13‌

Foghorn

Therapeutics

Inc

(e)

2,146‌

18‌

Gelesis

Holdings

Inc

(e)

411‌

—‌

Harmony

Biosciences

Holdings

Inc

(e)

2,805‌

135‌

Herbalife

Nutrition

Ltd

(e)

6,964‌

122‌

Heron

Therapeutics

Inc

(e)

11,006‌

30‌

Heska

Corp

(e)

1,028‌

92‌

Ironwood

Pharmaceuticals

Inc

(e)

14,645‌

169‌

Madrigal

Pharmaceuticals

Inc

(e)

11,865‌

3,420‌

MannKind

Corp

(a),(e)

1,001,566‌

5,479‌

Mirum

Pharmaceuticals

Inc

(e)

1,929‌

45‌

Morphic

Holding

Inc

(e)

2,348‌

77‌

Neurocrine

Biosciences

Inc

(e)

118,978‌

13,198‌

Ocugen

Inc

(a),(e)

22,706‌

29‌

Ocular

Therapeutix

Inc

(e)

69,538‌

272‌

Option

Care

Health

Inc

(e)

16,622‌

480‌

Outlook

Therapeutics

Inc

(a),(e)

13,336‌

15‌

Owens

&

Minor

Inc

(e)

970‌

19‌

Pacira

BioSciences

Inc

(e)

4,810‌

189‌

PetIQ

Inc

(e)

2,319‌

27‌

Phibro

Animal

Health

Corp

2,052‌

32‌

Prometheus

Biosciences

Inc

(e)

47,070‌

5,350‌

Reata

Pharmaceuticals

Inc

(a),(e)

133,983‌

5,806‌

Relmada

Therapeutics

Inc

(e)

2,261‌

9‌

Revance

Therapeutics

Inc

(e)

8,579‌

297‌

Senseonics

Holdings

Inc

(a),(e)

48,618‌

55‌

Seres

Therapeutics

Inc

(e)

7,545‌

41‌

SIGA

Technologies

Inc

5,041‌

37‌

USANA

Health

Sciences

Inc

(e)

1,198‌

70‌

Vaxcyte

Inc

(e)

7,620‌

346‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Pharmaceuticals

(continued)

Xeris

Biopharma

Holdings

Inc

(e)

14,965‌

$

19‌

Y-mAbs

Therapeutics

Inc

(e)

4,171‌

19‌

$

83,788‌

Pipelines

-

0

.59

%

DT

Midstream

Inc

175,720‌

9,605‌

Equitrans

Midstream

Corp

10,484‌

76‌

Excelerate

Energy

Inc

180,886‌

4,214‌

Golar

LNG

Ltd

(e)

638‌

15‌

Kinetik

Holdings

Inc

(a)

213‌

7‌

NextDecade

Corp

(e)

3,479‌

21‌

$

13,938‌

Private

Equity

-

0

.15

%

P10

Inc

316,550‌

3,577‌

Real

Estate

-

0

.05

%

Compass

Inc

(e)

29,259‌

118‌

Cushman

&

Wakefield

PLC

(e)

17,038‌

246‌

Douglas

Elliman

Inc

712‌

3‌

eXp

World

Holdings

Inc

(a)

7,460‌

116‌

Marcus

&

Millichap

Inc

2,669‌

97‌

McGrath

RentCorp

2,569‌

256‌

Newmark

Group

Inc

1,189‌

10‌

Offerpad

Solutions

Inc

(e)

9,188‌

8‌

Redfin

Corp

(e)

11,385‌

85‌

RMR

Group

Inc/The

1,019‌

32‌

St

Joe

Co/The

3,687‌

174‌

$

1,145‌

REITs

-

0

.87

%

Alexander's

Inc

225‌

53‌

Bluerock

Homes

Trust

Inc

(e)

186‌

4‌

CareTrust

REIT

Inc

853‌

18‌

CBL

&

Associates

Properties

Inc

486‌

13‌

Clipper

Realty

Inc

1,157‌

8‌

Community

Healthcare

Trust

Inc

1,489‌

64‌

Corporate

Office

Properties

Trust

1,418‌

40‌

EastGroup

Properties

Inc

72,509‌

12,200‌

Essential

Properties

Realty

Trust

Inc

1,393‌

35‌

Four

Corners

Property

Trust

Inc

793‌

23‌

Gladstone

Commercial

Corp

3,847‌

65‌

Gladstone

Land

Corp

1,865‌

36‌

Hersha

Hospitality

Trust

257‌

2‌

Industrial

Logistics

Properties

Trust

464‌

2‌

Innovative

Industrial

Properties

Inc

2,947‌

265‌

NexPoint

Residential

Trust

Inc

2,298‌

116‌

Outfront

Media

Inc

15,571‌

310‌

PennyMac

Mortgage

Investment

Trust

1,867‌

28‌

Phillips

Edison

&

Co

Inc

12,457‌

418‌

Postal

Realty

Trust

Inc

1,140‌

18‌

PotlatchDeltic

Corp

786‌

38‌

Ryman

Hospitality

Properties

Inc

32,260‌

2,997‌

Safehold

Inc

1,781‌

62‌

Saul

Centers

Inc

1,128‌

48‌

Tanger

Factory

Outlet

Centers

Inc

10,865‌

208‌

Terreno

Realty

Corp

49,925‌

3,217‌

UMH

Properties

Inc

4,438‌

80‌

Universal

Health

Realty

Income

Trust

1,369‌

75‌

$

20,443‌

Retail

-

5

.76

%

Arko

Corp

8,935‌

75‌

Asbury

Automotive

Group

Inc

(e)

684‌

150‌

Aspen

Aerogels

Inc

(e)

3,288‌

35‌

Beacon

Roofing

Supply

Inc

(e)

3,855‌

219‌

Bed

Bath

&

Beyond

Inc

(a),(e)

6,138‌

17‌

BJ's

Restaurants

Inc

(e)

163,337‌

5,157‌

Bloomin'

Brands

Inc

6,759‌

164‌

Boot

Barn

Holdings

Inc

(e)

3,158‌

264‌

Brinker

International

Inc

(e)

4,171‌

165‌

Buckle

Inc/The

2,995‌

132‌

Build-A-Bear

Workshop

Inc

(e)

1,033‌

25‌

Caleres

Inc

3,770‌

98‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

223

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Retail

(continued)

Casey's

General

Stores

Inc

76,266‌

$

17,992‌

Cheesecake

Factory

Inc/The

5,147‌

202‌

Chico's

FAS

Inc

(e)

9,455‌

50‌

Children's

Place

Inc/The

(e)

883‌

40‌

Chuy's

Holdings

Inc

(e)

93,990‌

3,217‌

Citi

Trends

Inc

(e)

65‌

2‌

Cracker

Barrel

Old

Country

Store

Inc

2,347‌

262‌

Dave

&

Buster's

Entertainment

Inc

(e)

4,597‌

199‌

Denny's

Corp

(e)

4,313‌

52‌

Designer

Brands

Inc

3,903‌

40‌

Destination

XL

Group

Inc

(e)

3,269‌

23‌

Dillard's

Inc

(a)

417‌

164‌

Dine

Brands

Global

Inc

1,375‌

106‌

Duluth

Holdings

Inc

(e)

836‌

6‌

EVgo

Inc

(a),(e)

1,089‌

8‌

First

Watch

Restaurant

Group

Inc

(e)

144,997‌

2,349‌

FirstCash

Holdings

Inc

1,992‌

184‌

Five

Below

Inc

(e)

68,285‌

13,462‌

Floor

&

Decor

Holdings

Inc

(e)

4,980‌

452‌

Franchise

Group

Inc

2,578‌

80‌

Freshpet

Inc

(e)

139,084‌

8,808‌

GMS

Inc

(e)

4,526‌

269‌

Guess?

Inc

3,288‌

76‌

Hibbett

Inc

1,053‌

70‌

Jack

in

the

Box

Inc

84,717‌

6,436‌

Kura

Sushi

USA

Inc

(e)

490‌

30‌

Leslie's

Inc

(e)

277,256‌

4,295‌

Lithia

Motors

Inc

35,803‌

9,423‌

MarineMax

Inc

(e)

225‌

7‌

Murphy

USA

Inc

2,224‌

605‌

National

Vision

Holdings

Inc

(e)

496,661‌

20,413‌

Noodles

&

Co

(e)

304,304‌

1,915‌

Nu

Skin

Enterprises

Inc

2,141‌

92‌

ONE

Group

Hospitality

Inc/The

(e)

2,563‌

19‌

OneWater

Marine

Inc

(e)

129‌

4‌

Papa

John's

International

Inc

2,511‌

225‌

Patrick

Industries

Inc

258‌

18‌

Petco

Health

&

Wellness

Co

Inc

(e)

347,321‌

4,060‌

PetMed

Express

Inc

1,776‌

38‌

Portillo's

Inc

(e)

234,591‌

5,293‌

PriceSmart

Inc

1,656‌

123‌

Rite

Aid

Corp

(e)

2,862‌

10‌

Ruth's

Hospitality

Group

Inc

3,327‌

58‌

Sally

Beauty

Holdings

Inc

(e)

10,649‌

166‌

Shake

Shack

Inc

(e)

4,015‌

228‌

Sweetgreen

Inc

(e)

9,387‌

97‌

Texas

Roadhouse

Inc

165,407‌

16,612‌

Warby

Parker

Inc

(a),(e)

8,941‌

144‌

Wingstop

Inc

71,032‌

11,256‌

$

136,181‌

Savings

&

Loans

-

0

.38

%

Axos

Financial

Inc

(e)

31,361‌

1,509‌

Greene

County

Bancorp

Inc

357‌

17‌

Hingham

Institution

For

Savings

The

12‌

4‌

HomeTrust

Bancshares

Inc

326‌

9‌

Pacific

Premier

Bancorp

Inc

231,490‌

7,486‌

$

9,025‌

Semiconductors

-

4

.30

%

ACM

Research

Inc

(e)

811‌

10‌

Allegro

MicroSystems

Inc

(e)

255,337‌

9,746‌

Alpha

&

Omega

Semiconductor

Ltd

(e)

1,829‌

60‌

Ambarella

Inc

(e)

30,611‌

2,751‌

Amkor

Technology

Inc

2,202‌

64‌

Arteris

Inc

(e)

1,968‌

12‌

Atomera

Inc

(a),(e)

2,341‌

17‌

Axcelis

Technologies

Inc

(e)

3,468‌

381‌

CEVA

Inc

(e)

2,441‌

81‌

Diodes

Inc

(e)

3,435‌

306‌

Entegris

Inc

138,481‌

11,177‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Semiconductors

(continued)

FormFactor

Inc

(e)

8,258‌

$

232‌

Impinj

Inc

(e)

2,063‌

268‌

IPG

Photonics

Corp

(e)

21,533‌

2,414‌

Kulicke

&

Soffa

Industries

Inc

6,065‌

310‌

Lattice

Semiconductor

Corp

(e)

231,641‌

17,556‌

MACOM

Technology

Solutions

Holdings

Inc

(e)

313,277‌

20,996‌

MaxLinear

Inc

(e)

7,728‌

318‌

Onto

Innovation

Inc

(e)

116,438‌

9,158‌

Photronics

Inc

(e)

4,664‌

85‌

Power

Integrations

Inc

111,638‌

9,611‌

Rambus

Inc

(e)

9,543‌

386‌

Semtech

Corp

(e)

6,778‌

224‌

Silicon

Laboratories

Inc

(e)

78,399‌

12,301‌

SiTime

Corp

(e)

1,732‌

200‌

SkyWater

Technology

Inc

(e)

200,345‌

2,167‌

SMART

Global

Holdings

Inc

(e)

5,096‌

88‌

Synaptics

Inc

(e)

4,213‌

527‌

Ultra

Clean

Holdings

Inc

(e)

1,648‌

56‌

Veeco

Instruments

Inc

(e)

4,316‌

86‌

$

101,588‌

Software

-

8

.48

%

8x8

Inc

(e)

11,791‌

56‌

ACI

Worldwide

Inc

(e)

11,920‌

333‌

ACV

Auctions

Inc

(e)

6,040‌

59‌

Agilysys

Inc

(e)

2,117‌

177‌

Alignment

Healthcare

Inc

(e)

411,491‌

5,082‌

Alkami

Technology

Inc

(e)

3,838‌

63‌

Altair

Engineering

Inc

(e)

7,362‌

391‌

American

Software

Inc/GA

2,451‌

37‌

Amplitude

Inc

(e)

5,988‌

86‌

Apollo

Medical

Holdings

Inc

(e)

4,165‌

148‌

Appfolio

Inc

(e)

2,053‌

231‌

Appian

Corp

(e)

4,284‌

177‌

Asana

Inc

(e)

7,889‌

122‌

AvePoint

Inc

(e)

13,795‌

62‌

Avid

Technology

Inc

(e)

2,314‌

70‌

AvidXchange

Holdings

Inc

(e)

14,013‌

156‌

Bandwidth

Inc

(e)

500‌

12‌

Bentley

Systems

Inc

159,348‌

6,223‌

BigCommerce

Holdings

Inc

(e)

6,867‌

84‌

Blackbaud

Inc

(e)

4,672‌

291‌

Blackline

Inc

(e)

320,749‌

23,029‌

Box

Inc

(e)

14,869‌

476‌

Braze

Inc

(a),(e)

225,172‌

7,205‌

Brightcove

Inc

(e)

3,189‌

20‌

C3.ai

Inc

(e)

1,237‌

25‌

Clear

Secure

Inc

18,058‌

567‌

CommVault

Systems

Inc

(e)

4,729‌

294‌

Consensus

Cloud

Solutions

Inc

(e)

946‌

56‌

CS

Disco

Inc

(e)

2,527‌

21‌

CSG

Systems

International

Inc

3,300‌

197‌

Definitive

Healthcare

Corp

(e)

70,523‌

873‌

Digi

International

Inc

(e)

1,238‌

42‌

Digimarc

Corp

(a),(e)

1,373‌

27‌

Digital

Turbine

Inc

(e)

10,058‌

175‌

DigitalOcean

Holdings

Inc

(e)

134,078‌

3,935‌

Domo

Inc

(e)

3,250‌

50‌

Donnelley

Financial

Solutions

Inc

(e)

218‌

10‌

Duck

Creek

Technologies

Inc

(e)

8,273‌

157‌

Duolingo

Inc

(e)

2,518‌

240‌

Dynatrace

Inc

(e)

314,188‌

12,074‌

Ebix

Inc

631‌

12‌

eGain

Corp

(e)

1,018‌

10‌

Enfusion

Inc

(e)

63,019‌

749‌

EngageSmart

Inc

(e)

3,734‌

74‌

Envestnet

Inc

(e)

159,362‌

10,359‌

Everbridge

Inc

(e)

4,236‌

135‌

EverCommerce

Inc

(a),(e)

420‌

4‌

Evolent

Health

Inc

(e)

8,711‌

281‌

Schedule

of

Investments

SmallCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

224

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Software

(continued)

Faraday

Future

Intelligent

Electric

Inc

(a),(e)

12,964‌

$

11‌

Five9

Inc

(e)

129,180‌

10,177‌

ForgeRock

Inc

(e)

2,915‌

58‌

Hims

&

Hers

Health

Inc

(e)

11,001‌

91‌

HireRight

Holdings

Corp

(e)

2,265‌

26‌

IBEX

Holdings

Ltd

(e)

940‌

25‌

Inspired

Entertainment

Inc

(e)

1,580‌

24‌

Instructure

Holdings

Inc

(e)

264,366‌

7,146‌

Intapp

Inc

(e)

1,518‌

44‌

IonQ

Inc

(a),(e)

1,883‌

8‌

Jamf

Holding

Corp

(e)

81,992‌

1,629‌

LivePerson

Inc

(e)

7,534‌

97‌

Loyalty

Ventures

Inc

(e)

964‌

2‌

Manhattan

Associates

Inc

(e)

82,155‌

10,710‌

Matterport

Inc

(e)

17,142‌

60‌

MeridianLink

Inc

(e)

2,456‌

39‌

MicroStrategy

Inc

(a),(e)

591‌

149‌

Model

N

Inc

(e)

209,934‌

8,326‌

Momentive

Global

Inc

(e)

13,963‌

108‌

Monday.com

Ltd

(e)

66,180‌

8,616‌

N-able

Inc

(e)

6,374‌

65‌

NextGen

Healthcare

Inc

(e)

2,923‌

56‌

Nutex

Health

Inc

(e)

26,300‌

35‌

Outset

Medical

Inc

(e)

5,132‌

144‌

PagerDuty

Inc

(e)

9,189‌

274‌

PDF

Solutions

Inc

(e)

124,765‌

3,965‌

Pear

Therapeutics

Inc

(e)

3,928‌

4‌

Phreesia

Inc

(e)

359,176‌

13,466‌

Playstudios

Inc

(e)

4,475‌

21‌

PowerSchool

Holdings

Inc

(e)

1,689‌

38‌

Privia

Health

Group

Inc

(e)

231,507‌

6,259‌

Progress

Software

Corp

4,561‌

242‌

PROS

Holdings

Inc

(e)

266,211‌

6,708‌

PubMatic

Inc

(e)

4,133‌

63‌

Red

Violet

Inc

(e)

1,022‌

24‌

Sapiens

International

Corp

NV

2,451‌

56‌

Schrodinger

Inc/United

States

(e)

5,778‌

140‌

Simulations

Plus

Inc

1,666‌

69‌

Smartsheet

Inc

(e)

234,566‌

10,136‌

Sprout

Social

Inc

(e)

4,968‌

318‌

SPS

Commerce

Inc

(e)

91,642‌

12,470‌

Sumo

Logic

Inc

(e)

7,882‌

93‌

Take-Two

Interactive

Software

Inc

(e)

48,102‌

5,447‌

Verint

Systems

Inc

(e)

6,200‌

235‌

Veritone

Inc

(e)

3,346‌

28‌

Verra

Mobility

Corp

(e)

14,907‌

230‌

Viant

Technology

Inc

(e)

1,922‌

9‌

Vimeo

Inc

(e)

15,331‌

70‌

Weave

Communications

Inc

(e)

3,549‌

18‌

WM

Technology

Inc

(e)

7,677‌

10‌

Workiva

Inc

(e)

197,437‌

17,084‌

Yext

Inc

(e)

12,200‌

85‌

Zeta

Global

Holdings

Corp

(e)

11,707‌

106‌

Zuora

Inc

(e)

13,031‌

103‌

$

200,374‌

Telecommunications

-

0

.80

%

A10

Networks

Inc

5,384‌

83‌

ADTRAN

Holdings

Inc

7,383‌

139‌

Anterix

Inc

(e)

552‌

20‌

Calix

Inc

(e)

4,805‌

253‌

Cambium

Networks

Corp

(e)

1,224‌

26‌

Casa

Systems

Inc

(e)

4,015‌

14‌

Clearfield

Inc

(e)

1,234‌

88‌

CommScope

Holding

Co

Inc

(e)

21,982‌

185‌

Consolidated

Communications

Holdings

Inc

(e)

950‌

4‌

Credo

Technology

Group

Holding

Ltd

(e)

139,453‌

2,417‌

Cyxtera

Technologies

Inc

(e)

4,179‌

13‌

DigitalBridge

Group

Inc

222,000‌

3,286‌

DZS

Inc

(e)

1,879‌

24‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Telecommunications

(continued)

Extreme

Networks

Inc

(e)

13,629‌

$

246‌

Globalstar

Inc

(e)

61,420‌

87‌

Gogo

Inc

(e)

525‌

9‌

Harmonic

Inc

(e)

9,861‌

130‌

IDT

Corp

-

Class

B

(e)

1,154‌

34‌

Infinera

Corp

(e)

1,283,604‌

9,396‌

Inseego

Corp

(e)

2,389‌

3‌

InterDigital

Inc

1,178‌

82‌

Iridium

Communications

Inc

13,296‌

796‌

Ondas

Holdings

Inc

(a),(e)

4,303‌

8‌

Ooma

Inc

(e)

2,449‌

35‌

Planet

Labs

PBC

(e)

14,542‌

72‌

Viavi

Solutions

Inc

(e)

127,965‌

1,446‌

$

18,896‌

Toys,

Games

&

Hobbies

-

0

.00

%

Funko

Inc

(e)

3,404‌

41‌

Vinco

Ventures

Inc

(e)

15,788‌

12‌

$

53‌

Transportation

-

1

.24

%

Air

Transport

Services

Group

Inc

(e)

2,314‌

65‌

ArcBest

Corp

848‌

71‌

CryoPort

Inc

(e)

3,818‌

87‌

Daseke

Inc

(e)

4,355‌

30‌

Forward

Air

Corp

59,012‌

6,365‌

Knight-Swift

Transportation

Holdings

Inc

83,616‌

4,942‌

Marten

Transport

Ltd

4,649‌

103‌

PAM

Transportation

Services

Inc

(e)

746‌

22‌

Radiant

Logistics

Inc

(e)

1,265‌

7‌

Saia

Inc

(e)

64,301‌

17,539‌

Universal

Logistics

Holdings

Inc

571‌

20‌

Werner

Enterprises

Inc

821‌

39‌

$

29,290‌

Trucking

&

Leasing

-

0

.00

%

GATX

Corp

204‌

23‌

Water

-

0

.02

%

American

States

Water

Co

1,878‌

177‌

Artesian

Resources

Corp

576‌

34‌

California

Water

Service

Group

1,505‌

92‌

Global

Water

Resources

Inc

1,451‌

21‌

Middlesex

Water

Co

1,855‌

155‌

York

Water

Co/The

1,515‌

69‌

$

548‌

TOTAL

COMMON

STOCKS

$

2,225,649‌

Total

Investments

$

2,377,180‌

Other

Assets

and

Liabilities

-  (0.59)%

(

14,029‌

)

TOTAL

NET

ASSETS

-

100.00%

$

2,363,151‌

(a)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$37,760

or

1.60%

of

net

assets.

(b)

Current

yield

shown

is

as

of

period

end.

(c)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$37,701

or

1.60%

of

net

assets.

(d)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(e)

Non-income

producing

security

(f)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

Schedule

of

Investments

SmallCap

Growth

Fund

I

January

31,

2023

(unaudited)

See

accompanying

notes.

225

Portfolio

Summary  (unaudited)

Sector

Percent

Consumer,

Non-cyclical

31

.16‌

%

Industrial

15

.09‌

%

Technology

14

.82‌

%

Consumer,

Cyclical

13

.31‌

%

Financial

7

.60‌

%

Energy

7

.02‌

%

Money

Market

Funds

5

.36‌

%

Communications

2

.79‌

%

Basic

Materials

2

.07‌

%

Investment

Companies

1

.05‌

%

Utilities

0

.32‌

%

Other

Assets

and

Liabilities

(

0

.59‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

244,872‌

$

126,878‌

$

117,994‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

140,977‌

223,235‌

364,212‌

—‌

$

140,977‌

$

468,107‌

$

491,090‌

$

117,994‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

390‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

342‌

—‌

—‌

—‌

$

732‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Russell

2000

Emini;

March

2023

Long

79‌

$

7,661‌

$

179‌

Total

$

179‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

SmallCap

S&P

600

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

226

INVESTMENT

COMPANIES

-

1

.67

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.13

%

iShares

Core

S&P

Small-Cap

ETF

14,744‌

$

1,528‌

Money

Market

Funds

-

1

.54

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

277,076‌

277‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(c)

18,260,111‌

18,260‌

$

18,537‌

TOTAL

INVESTMENT

COMPANIES

$

20,065‌

COMMON

STOCKS

-

98

.32

%

Shares

Held

Value

(000's)

Aerospace

&

Defense

-

1

.54

%

AAR

Corp

(d)

41,176‌

$

2,118‌

Aerojet

Rocketdyne

Holdings

Inc

(d)

93,526‌

5,230‌

AeroVironment

Inc

(d)

30,873‌

2,747‌

Barnes

Group

Inc

62,476‌

2,765‌

Kaman

Corp

34,616‌

873‌

Moog

Inc

35,781‌

3,410‌

National

Presto

Industries

Inc

6,278‌

481‌

Triumph

Group

Inc

(d)

80,306‌

915‌

$

18,539‌

Agriculture

-

0

.52

%

Andersons

Inc/The

38,457‌

1,415‌

Fresh

Del

Monte

Produce

Inc

37,833‌

1,082‌

Universal

Corp/VA

30,337‌

1,649‌

Vector

Group

Ltd

162,559‌

2,105‌

$

6,251‌

Airlines

-

0

.37

%

Allegiant

Travel

Co

(d)

19,322‌

1,662‌

Hawaiian

Holdings

Inc

(d)

63,516‌

783‌

SkyWest

Inc

(d)

62,511‌

1,298‌

Sun

Country

Airlines

Holdings

Inc

(d)

40,244‌

751‌

$

4,494‌

Apparel

-

0

.99

%

Kontoor

Brands

Inc

60,988‌

2,913‌

Oxford

Industries

Inc

18,484‌

2,167‌

Steven

Madden

Ltd

90,448‌

3,243‌

Urban

Outfitters

Inc

(d)

74,020‌

2,027‌

Wolverine

World

Wide

Inc

97,299‌

1,569‌

$

11,919‌

Automobile

Manufacturers

-

0

.13

%

Wabash

National

Corp

59,233‌

1,526‌

Automobile

Parts

&

Equipment

-

1

.17

%

American

Axle

&

Manufacturing

Holdings

Inc

(d)

141,528‌

1,255‌

Dorman

Products

Inc

(d)

34,935‌

3,391‌

Gentherm

Inc

(d)

41,015‌

3,053‌

Methode

Electronics

Inc

45,186‌

2,157‌

Motorcar

Parts

of

America

Inc

(d)

23,995‌

349‌

Standard

Motor

Products

Inc

23,184‌

938‌

Titan

International

Inc

(d)

62,890‌

1,050‌

XPEL

Inc

(d)

24,225‌

1,843‌

$

14,036‌

Banks

-

9

.09

%

Ameris

Bancorp

80,541‌

3,798‌

BancFirst

Corp

21,524‌

1,854‌

Bancorp

Inc/The

(d)

69,163‌

2,347‌

BankUnited

Inc

95,464‌

3,593‌

Banner

Corp

42,241‌

2,738‌

Central

Pacific

Financial

Corp

33,638‌

760‌

City

Holding

Co

18,354‌

1,740‌

Columbia

Banking

System

Inc

97,164‌

3,003‌

Community

Bank

System

Inc

66,386‌

3,831‌

Customers

Bancorp

Inc

(d)

37,760‌

1,147‌

CVB

Financial

Corp

162,365‌

3,932‌

Dime

Community

Bancshares

Inc

40,031‌

1,194‌

Eagle

Bancorp

Inc

39,434‌

1,873‌

FB

Financial

Corp

43,485‌

1,633‌

First

BanCorp/Puerto

Rico

228,083‌

3,068‌

First

Bancorp/Southern

Pines

NC

44,121‌

1,758‌

First

Commonwealth

Financial

Corp

115,363‌

1,697‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

(continued)

First

Financial

Bancorp

117,172‌

$

2,968‌

First

Hawaiian

Inc

157,746‌

4,328‌

Hanmi

Financial

Corp

37,664‌

877‌

Heritage

Financial

Corp/WA

43,369‌

1,237‌

Hilltop

Holdings

Inc

56,658‌

1,853‌

HomeStreet

Inc

21,975‌

606‌

Hope

Bancorp

Inc

147,616‌

1,903‌

Independent

Bank

Corp

56,389‌

4,494‌

Independent

Bank

Group

Inc

43,771‌

2,683‌

Lakeland

Financial

Corp

31,319‌

2,215‌

National

Bank

Holdings

Corp

46,565‌

1,966‌

NBT

Bancorp

Inc

52,927‌

2,081‌

OFG

Bancorp

58,762‌

1,664‌

Park

National

Corp

17,883‌

2,240‌

Pathward

Financial

Inc

35,567‌

1,765‌

Preferred

Bank/Los

Angeles

CA

16,319‌

1,161‌

Renasant

Corp

69,127‌

2,459‌

S&T

Bancorp

Inc

48,188‌

1,753‌

Seacoast

Banking

Corp

of

Florida

102,014‌

3,276‌

ServisFirst

Bancshares

Inc

60,404‌

4,118‌

Simmons

First

National

Corp

156,868‌

3,500‌

Southside

Bancshares

Inc

37,681‌

1,427‌

Stellar

Bancorp

Inc

54,920‌

1,544‌

Tompkins

Financial

Corp

15,568‌

1,173‌

Triumph

Financial

Inc

27,953‌

1,558‌

TrustCo

Bank

Corp

NY

23,538‌

845‌

Trustmark

Corp

75,306‌

2,193‌

United

Community

Banks

Inc/GA

131,169‌

4,268‌

Veritex

Holdings

Inc

66,721‌

1,878‌

Walker

&

Dunlop

Inc

37,930‌

3,618‌

Westamerica

BanCorp

33,248‌

1,847‌

$

109,464‌

Beverages

-

0

.26

%

MGP

Ingredients

Inc

19,021‌

1,856‌

National

Beverage

Corp

(d)

28,829‌

1,274‌

$

3,130‌

Biotechnology

-

2

.23

%

ANI

Pharmaceuticals

Inc

(d)

15,094‌

675‌

Arcus

Biosciences

Inc

(d)

64,409‌

1,393‌

Avid

Bioservices

Inc

(d)

76,805‌

1,216‌

Cara

Therapeutics

Inc

(d)

55,764‌

651‌

Cytokinetics

Inc

(d)

116,913‌

4,966‌

Dynavax

Technologies

Corp

(d)

146,593‌

1,668‌

Emergent

BioSolutions

Inc

(d)

54,855‌

723‌

Innoviva

Inc

(d)

77,592‌

982‌

iTeos

Therapeutics

Inc

(d)

30,327‌

634‌

Ligand

Pharmaceuticals

Earnout

Shares

(d)

7,689‌

—‌

Ligand

Pharmaceuticals

Earnout

Shares

(d)

7,689‌

—‌

Ligand

Pharmaceuticals

Inc

(d)

19,828‌

1,382‌

Myriad

Genetics

Inc

(d)

100,115‌

1,974‌

Nektar

Therapeutics

(d)

232,211‌

632‌

NeoGenomics

Inc

(d)

156,043‌

1,854‌

Organogenesis

Holdings

Inc

(d)

87,339‌

224‌

REGENXBIO

Inc

(d)

46,534‌

1,080‌

Vericel

Corp

(d)

58,342‌

1,603‌

Vir

Biotechnology

Inc

(d)

93,742‌

2,770‌

Xencor

Inc

(d)

74,034‌

2,437‌

$

26,864‌

Building

Materials

-

2

.40

%

AAON

Inc

51,925‌

3,963‌

American

Woodmark

Corp

(d)

20,536‌

1,176‌

Apogee

Enterprises

Inc

27,436‌

1,285‌

Boise

Cascade

Co

48,737‌

3,654‌

Gibraltar

Industries

Inc

(d)

38,263‌

2,050‌

Griffon

Corp

58,515‌

2,392‌

Masterbrand

Inc

(d)

159,767‌

1,470‌

PGT

Innovations

Inc

(d)

74,125‌

1,608‌

SPX

Technologies

Inc

(d)

55,828‌

4,188‌

Schedule

of

Investments

SmallCap

S&P

600

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

227

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Building

Materials

(continued)

UFP

Industries

Inc

76,153‌

$

7,124‌

$

28,910‌

Chemicals

-

3

.33

%

AdvanSix

Inc

34,057‌

1,473‌

American

Vanguard

Corp

34,354‌

776‌

AZZ

Inc

30,716‌

1,305‌

Balchem

Corp

39,702‌

5,186‌

Hawkins

Inc

23,371‌

911‌

HB

Fuller

Co

65,867‌

4,551‌

Innospec

Inc

30,596‌

3,458‌

Koppers

Holdings

Inc

25,819‌

894‌

Livent

Corp

(d)

221,611‌

5,744‌

Mativ

Holdings

Inc

67,879‌

1,871‌

Minerals

Technologies

Inc

40,091‌

2,784‌

Quaker

Chemical

Corp

16,837‌

3,315‌

Rayonier

Advanced

Materials

Inc

(d)

79,033‌

548‌

Rogers

Corp

(d)

23,242‌

3,244‌

Stepan

Co

26,089‌

2,866‌

Trinseo

PLC

43,209‌

1,199‌

$

40,125‌

Coal

-

0

.47

%

CONSOL

Energy

Inc

40,498‌

2,342‌

SunCoke

Energy

Inc

103,040‌

939‌

Warrior

Met

Coal

Inc

63,816‌

2,417‌

$

5,698‌

Commercial

Services

-

4

.68

%

Aaron's

Co

Inc/The

38,027‌

557‌

ABM

Industries

Inc

81,728‌

3,834‌

Adtalem

Global

Education

Inc

(d)

56,096‌

2,142‌

Alarm.com

Holdings

Inc

(d)

61,663‌

3,305‌

AMN

Healthcare

Services

Inc

(d)

53,540‌

5,131‌

Arlo

Technologies

Inc

(d)

109,303‌

410‌

CoreCivic

Inc

(d)

142,055‌

1,511‌

CorVel

Corp

(d)

11,305‌

2,014‌

Cross

Country

Healthcare

Inc

(d)

43,772‌

1,215‌

Deluxe

Corp

53,292‌

1,065‌

EVERTEC

Inc

80,554‌

2,976‌

Forrester

Research

Inc

(d)

13,888‌

515‌

GEO

Group

Inc/The

(d)

153,384‌

1,764‌

Green

Dot

Corp

(d)

57,802‌

1,045‌

Healthcare

Services

Group

Inc

91,533‌

1,233‌

Heidrick

&

Struggles

International

Inc

24,537‌

755‌

Kelly

Services

Inc

42,736‌

773‌

Korn

Ferry

65,949‌

3,561‌

LiveRamp

Holdings

Inc

(d)

82,129‌

2,198‌

Medifast

Inc

13,500‌

1,505‌

Mister

Car

Wash

Inc

(d)

97,852‌

1,005‌

Monro

Inc

38,861‌

1,978‌

Payoneer

Global

Inc

(d)

246,613‌

1,470‌

Perdoceo

Education

Corp

(d)

82,986‌

1,242‌

PROG

Holdings

Inc

(d)

61,813‌

1,378‌

Rent-A-Center

Inc/TX

61,900‌

1,664‌

Resources

Connection

Inc

39,612‌

684‌

Sabre

Corp

(d)

405,681‌

2,763‌

Strategic

Education

Inc

27,493‌

2,566‌

Stride

Inc

(d)

50,506‌

2,168‌

TrueBlue

Inc

(d)

40,422‌

793‌

Viad

Corp

(d)

25,537‌

755‌

WW

International

Inc

(d)

66,220‌

329‌

$

56,304‌

Computers

-

0

.97

%

3D

Systems

Corp

(d)

162,047‌

1,760‌

Corsair

Gaming

Inc

(d)

47,436‌

746‌

Insight

Enterprises

Inc

(d)

37,439‌

4,220‌

NetScout

Systems

Inc

(d)

84,794‌

2,722‌

OneSpan

Inc

(d)

43,610‌

602‌

TTEC

Holdings

Inc

23,335‌

1,187‌

Unisys

Corp

(d)

83,747‌

453‌

$

11,690‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Consumer

Products

-

0

.54

%

Central

Garden

&

Pet

Co

(d)

12,021‌

$

504‌

Central

Garden

&

Pet

Co

-

A

Shares

(d)

51,209‌

2,030‌

Quanex

Building

Products

Corp

40,930‌

1,060‌

WD-40

Co

16,777‌

2,928‌

$

6,522‌

Cosmetics

&

Personal

Care

-

0

.74

%

Edgewell

Personal

Care

Co

64,028‌

2,744‌

elf

Beauty

Inc

(d)

62,132‌

3,576‌

Inter

Parfums

Inc

22,054‌

2,607‌

$

8,927‌

Distribution

&

Wholesale

-

0

.78

%

G-III

Apparel

Group

Ltd

(d)

52,801‌

893‌

KAR

Auction

Services

Inc

(d)

134,552‌

1,959‌

Resideo

Technologies

Inc

(d)

180,185‌

3,465‌

ScanSource

Inc

(d)

31,190‌

1,027‌

Veritiv

Corp

16,658‌

2,083‌

$

9,427‌

Diversified

Financial

Services

-

1

.98

%

Avantax

Inc

(d)

59,158‌

1,724‌

B

Riley

Financial

Inc

19,774‌

845‌

Bread

Financial

Holdings

Inc

61,591‌

2,527‌

Brightsphere

Investment

Group

Inc

39,928‌

936‌

Encore

Capital

Group

Inc

(d)

28,892‌

1,610‌

Enova

International

Inc

(d)

38,867‌

1,774‌

EZCORP

Inc

(d)

66,325‌

604‌

LendingTree

Inc

(d)

13,427‌

533‌

Mr

Cooper

Group

Inc

(d)

87,180‌

4,009‌

Piper

Sandler

Cos

17,460‌

2,481‌

PRA

Group

Inc

(d)

48,154‌

1,938‌

StoneX

Group

Inc

(d)

21,278‌

1,870‌

Virtus

Investment

Partners

Inc

8,399‌

1,805‌

WisdomTree

Inc

137,575‌

793‌

World

Acceptance

Corp

(d)

4,087‌

391‌

$

23,840‌

Electric

-

0

.39

%

Avista

Corp

91,148‌

3,637‌

Unitil

Corp

19,817‌

1,034‌

$

4,671‌

Electrical

Components

&

Equipment

-

0

.40

%

Encore

Wire

Corp

22,663‌

3,658‌

Insteel

Industries

Inc

24,064‌

722‌

Powell

Industries

Inc

11,209‌

445‌

$

4,825‌

Electronics

-

2

.80

%

Advanced

Energy

Industries

Inc

46,186‌

4,283‌

Badger

Meter

Inc

36,161‌

4,191‌

Benchmark

Electronics

Inc

43,459‌

1,216‌

Brady

Corp

57,301‌

3,064‌

Comtech

Telecommunications

Corp

34,193‌

542‌

CTS

Corp

39,386‌

1,753‌

FARO

Technologies

Inc

(d)

23,201‌

638‌

Itron

Inc

(d)

55,815‌

3,208‌

Knowles

Corp

(d)

112,360‌

2,161‌

Mesa

Laboratories

Inc

6,199‌

1,206‌

OSI

Systems

Inc

(d)

19,366‌

1,834‌

Plexus

Corp

(d)

34,197‌

3,283‌

Sanmina

Corp

(d)

70,953‌

4,323‌

TTM

Technologies

Inc

(d)

126,272‌

1,985‌

$

33,687‌

Energy

-

Alternate

Sources

-

0

.29

%

FutureFuel

Corp

31,899‌

296‌

Green

Plains

Inc

(d)

73,256‌

2,547‌

REX

American

Resources

Corp

(d)

19,179‌

627‌

$

3,470‌

Engineering

&

Construction

-

2

.03

%

Arcosa

Inc

59,739‌

3,541‌

Comfort

Systems

USA

Inc

44,181‌

5,348‌

Exponent

Inc

62,562‌

6,415‌

Schedule

of

Investments

SmallCap

S&P

600

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

228

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Engineering

&

Construction

(continued)

Frontdoor

Inc

(d)

100,681‌

$

2,736‌

Granite

Construction

Inc

54,027‌

2,300‌

MYR

Group

Inc

(d)

20,511‌

2,032‌

NV5

Global

Inc

(d)

15,379‌

2,050‌

$

24,422‌

Entertainment

-

0

.53

%

Cinemark

Holdings

Inc

(d)

132,415‌

1,581‌

Golden

Entertainment

Inc

(d)

27,116‌

1,071‌

Monarch

Casino

&

Resort

Inc

(d)

16,399‌

1,257‌

Six

Flags

Entertainment

Corp

(d)

91,436‌

2,455‌

$

6,364‌

Environmental

Control

-

0

.06

%

Harsco

Corp

(d)

98,188‌

780‌

Food

-

2

.36

%

B&G

Foods

Inc

88,543‌

1,241‌

Calavo

Growers

Inc

21,906‌

702‌

Cal-Maine

Foods

Inc

46,893‌

2,683‌

Chefs'

Warehouse

Inc/The

(d)

42,079‌

1,609‌

Hain

Celestial

Group

Inc/The

(d)

110,344‌

2,264‌

Hostess

Brands

Inc

(d)

165,413‌

3,826‌

J

&

J

Snack

Foods

Corp

18,494‌

2,650‌

John

B

Sanfilippo

&

Son

Inc

11,032‌

932‌

Seneca

Foods

Corp

-

Class

A

(d)

6,537‌

409‌

Simply

Good

Foods

Co/The

(d)

103,958‌

3,774‌

SpartanNash

Co

43,580‌

1,381‌

Tootsie

Roll

Industries

Inc

21,904‌

980‌

TreeHouse

Foods

Inc

(d)

62,358‌

3,020‌

United

Natural

Foods

Inc

(d)

72,042‌

2,998‌

$

28,469‌

Forest

Products

&

Paper

-

0

.28

%

Clearwater

Paper

Corp

(d)

20,682‌

798‌

Mercer

International

Inc

49,865‌

635‌

Sylvamo

Corp

40,862‌

1,942‌

$

3,375‌

Gas

-

0

.86

%

Chesapeake

Utilities

Corp

21,919‌

2,764‌

Northwest

Natural

Holding

Co

43,363‌

2,174‌

South

Jersey

Industries

Inc

151,302‌

5,460‌

$

10,398‌

Hand

&

Machine

Tools

-

0

.52

%

Enerpac

Tool

Group

Corp

70,261‌

1,865‌

Franklin

Electric

Co

Inc

48,070‌

4,340‌

$

6,205‌

Healthcare

-

Products

-

2

.48

%

AngioDynamics

Inc

(d)

48,316‌

629‌

Artivion

Inc

(d)

49,825‌

650‌

Avanos

Medical

Inc

(d)

57,446‌

1,760‌

BioLife

Solutions

Inc

(d)

42,269‌

991‌

Cardiovascular

Systems

Inc

(d)

51,743‌

721‌

CONMED

Corp

37,660‌

3,606‌

Cutera

Inc

(d)

22,052‌

768‌

Embecta

Corp

71,454‌

1,886‌

Glaukos

Corp

(d)

58,934‌

2,891‌

Inogen

Inc

(d)

28,318‌

661‌

Integer

Holdings

Corp

(d)

40,933‌

2,694‌

LeMaitre

Vascular

Inc

23,919‌

1,129‌

Merit

Medical

Systems

Inc

(d)

70,322‌

5,017‌

NuVasive

Inc

(d)

64,410‌

2,937‌

OraSure

Technologies

Inc

(d)

89,721‌

501‌

Orthofix

Medical

Inc

(d)

41,660‌

901‌

Surmodics

Inc

(d)

17,302‌

486‌

Varex

Imaging

Corp

(d)

49,295‌

1,059‌

Zimvie

Inc

(d)

25,785‌

253‌

Zynex

Inc

(d)

26,838‌

379‌

$

29,919‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Services

-

1

.84

%

Addus

HomeCare

Corp

(d)

19,904‌

$

2,140‌

Agiliti

Inc

(d)

41,183‌

760‌

Community

Health

Systems

Inc

(d)

154,783‌

808‌

Enhabit

Inc

(d)

61,301‌

941‌

Ensign

Group

Inc/The

68,549‌

6,392‌

Fulgent

Genetics

Inc

(d)

24,368‌

823‌

ModivCare

Inc

(d)

15,721‌

1,686‌

Pediatrix

Medical

Group

Inc

(d)

101,217‌

1,554‌

Pennant

Group

Inc/The

(d)

34,831‌

451‌

RadNet

Inc

(d)

60,236‌

1,268‌

Select

Medical

Holdings

Corp

128,645‌

3,740‌

US

Physical

Therapy

Inc

16,063‌

1,593‌

$

22,156‌

Home

Builders

-

2

.51

%

Cavco

Industries

Inc

(d)

10,237‌

2,724‌

Century

Communities

Inc

34,935‌

2,138‌

Green

Brick

Partners

Inc

(d)

33,557‌

1,047‌

Installed

Building

Products

Inc

28,978‌

3,190‌

LCI

Industries

31,419‌

3,526‌

LGI

Homes

Inc

(d)

25,322‌

2,883‌

M/I

Homes

Inc

(d)

33,887‌

2,026‌

MDC

Holdings

Inc

70,435‌

2,660‌

Meritage

Homes

Corp

(d)

45,182‌

4,866‌

Tri

Pointe

Homes

Inc

(d)

124,676‌

2,754‌

Winnebago

Industries

Inc

37,673‌

2,399‌

$

30,213‌

Home

Furnishings

-

0

.77

%

Ethan

Allen

Interiors

Inc

28,183‌

810‌

iRobot

Corp

(d)

33,641‌

1,514‌

MillerKnoll

Inc

93,348‌

2,229‌

Sleep

Number

Corp

(d)

27,182‌

935‌

Sonos

Inc

(d)

157,216‌

2,899‌

Universal

Electronics

Inc

(d)

14,885‌

349‌

Xperi

Inc

(d)

51,527‌

533‌

$

9,269‌

Insurance

-

2

.77

%

Ambac

Financial

Group

Inc

(d)

55,559‌

926‌

American

Equity

Investment

Life

Holding

Co

85,764‌

4,087‌

AMERISAFE

Inc

23,666‌

1,303‌

Assured

Guaranty

Ltd

74,077‌

4,637‌

Employers

Holdings

Inc

33,601‌

1,474‌

Genworth

Financial

Inc

(d)

613,247‌

3,385‌

HCI

Group

Inc

8,547‌

429‌

Horace

Mann

Educators

Corp

50,527‌

1,799‌

James

River

Group

Holdings

Ltd

46,280‌

1,049‌

Mercury

General

Corp

32,836‌

1,173‌

NMI

Holdings

Inc

(d)

103,261‌

2,399‌

Palomar

Holdings

Inc

(d)

31,174‌

1,593‌

ProAssurance

Corp

66,670‌

1,293‌

Safety

Insurance

Group

Inc

18,209‌

1,537‌

SiriusPoint

Ltd

(d)

104,949‌

797‌

Stewart

Information

Services

Corp

33,515‌

1,601‌

Trupanion

Inc

(d)

43,438‌

2,564‌

United

Fire

Group

Inc

26,771‌

843‌

Universal

Insurance

Holdings

Inc

33,928‌

432‌

$

33,321‌

Internet

-

1

.57

%

Cars.com

Inc

(d)

76,534‌

1,309‌

Cogent

Communications

Holdings

Inc

52,790‌

3,620‌

ePlus

Inc

(d)

33,243‌

1,655‌

HealthStream

Inc

(d)

29,840‌

721‌

Liquidity

Services

Inc

(d)

33,411‌

501‌

OptimizeRx

Corp

(d)

21,192‌

380‌

Perficient

Inc

(d)

42,782‌

3,172‌

QuinStreet

Inc

(d)

62,294‌

955‌

Shutterstock

Inc

29,648‌

2,232‌

TechTarget

Inc

(d)

33,330‌

1,651‌

Yelp

Inc

(d)

86,115‌

2,713‌

$

18,909‌

Schedule

of

Investments

SmallCap

S&P

600

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

229

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Iron

&

Steel

-

0

.79

%

ATI

Inc

(d)

159,891‌

$

5,819‌

Carpenter

Technology

Corp

59,851‌

2,890‌

Haynes

International

Inc

15,396‌

857‌

$

9,566‌

Leisure

Products

&

Services

-

0

.17

%

Vista

Outdoor

Inc

(d)

69,894‌

2,051‌

Lodging

-

0

.04

%

Marcus

Corp/The

30,142‌

456‌

Machinery

-

Construction

&

Mining

-

0

.10

%

Astec

Industries

Inc

28,059‌

1,239‌

Machinery

-

Diversified

-

1

.61

%

Alamo

Group

Inc

12,714‌

1,989‌

Albany

International

Corp

38,423‌

4,309‌

Applied

Industrial

Technologies

Inc

47,655‌

6,825‌

CIRCOR

International

Inc

(d)

25,157‌

696‌

DXP

Enterprises

Inc/TX

(d)

19,474‌

590‌

Ichor

Holdings

Ltd

(d)

35,584‌

1,203‌

Lindsay

Corp

13,565‌

2,124‌

Tennant

Co

22,976‌

1,611‌

$

19,347‌

Media

-

0

.38

%

AMC

Networks

Inc

(d)

34,631‌

641‌

EW

Scripps

Co/The

(d)

71,611‌

1,070‌

Gannett

Co

Inc

(d)

180,491‌

408‌

Scholastic

Corp

36,724‌

1,625‌

Thryv

Holdings

Inc

(d)

37,907‌

848‌

$

4,592‌

Metal

Fabrication

&

Hardware

-

0

.76

%

Mueller

Industries

Inc

70,256‌

4,605‌

Olympic

Steel

Inc

11,825‌

523‌

Proto

Labs

Inc

(d)

33,501‌

1,025‌

Standex

International

Corp

14,809‌

1,712‌

TimkenSteel

Corp

(d)

48,896‌

962‌

Tredegar

Corp

31,085‌

377‌

$

9,204‌

Mining

-

0

.61

%

Arconic

Corp

(d)

125,381‌

2,948‌

Century

Aluminum

Co

(d)

63,198‌

710‌

Compass

Minerals

International

Inc

42,044‌

1,962‌

Kaiser

Aluminum

Corp

19,695‌

1,724‌

$

7,344‌

Miscellaneous

Manufacturers

-

2

.70

%

EnPro

Industries

Inc

25,702‌

3,112‌

ESCO

Technologies

Inc

31,941‌

3,144‌

Fabrinet

(d)

45,203‌

5,952‌

Federal

Signal

Corp

74,914‌

3,989‌

Hillenbrand

Inc

85,812‌

4,021‌

John

Bean

Technologies

Corp

39,360‌

4,398‌

Materion

Corp

25,362‌

2,289‌

Myers

Industries

Inc

45,091‌

1,086‌

Park

Aerospace

Corp

24,027‌

334‌

Sturm

Ruger

&

Co

Inc

21,827‌

1,242‌

Trinity

Industries

Inc

100,570‌

2,893‌

$

32,460‌

Office

&

Business

Equipment

-

0

.07

%

Pitney

Bowes

Inc

199,927‌

862‌

Office

Furnishings

-

0

.20

%

HNI

Corp

51,103‌

1,623‌

Interface

Inc

71,866‌

818‌

$

2,441‌

Oil

&

Gas

-

2

.52

%

Callon

Petroleum

Co

(d)

63,175‌

2,688‌

Civitas

Resources

Inc

64,143‌

4,269‌

Helmerich

&

Payne

Inc

130,082‌

6,301‌

Nabors

Industries

Ltd

(d)

11,052‌

1,962‌

Par

Pacific

Holdings

Inc

(d)

68,559‌

1,833‌

Patterson-UTI

Energy

Inc

267,877‌

4,500‌

Ranger

Oil

Corp

23,623‌

992‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Oil

&

Gas

(continued)

SM

Energy

Co

151,711‌

$

4,987‌

Talos

Energy

Inc

(d)

80,589‌

1,597‌

Vital

Energy

Inc

(d)

20,773‌

1,169‌

$

30,298‌

Oil

&

Gas

Services

-

1

.31

%

Archrock

Inc

165,338‌

1,638‌

Bristow

Group

Inc

(d)

29,074‌

888‌

Core

Laboratories

NV

57,289‌

1,467‌

DMC

Global

Inc

(d)

22,921‌

521‌

Dril-Quip

Inc

(d)

41,907‌

1,287‌

Helix

Energy

Solutions

Group

Inc

(d)

176,316‌

1,398‌

NOW

Inc

(d)

136,445‌

1,916‌

Oceaneering

International

Inc

(d)

123,868‌

2,644‌

Oil

States

International

Inc

(d)

78,948‌

676‌

ProPetro

Holding

Corp

(d)

118,883‌

1,183‌

RPC

Inc

102,803‌

1,020‌

US

Silica

Holdings

Inc

(d)

93,536‌

1,145‌

$

15,783‌

Packaging

&

Containers

-

0

.42

%

Matthews

International

Corp

37,812‌

1,400‌

O-I

Glass

Inc

(d)

191,668‌

3,690‌

$

5,090‌

Pharmaceuticals

-

2

.54

%

AdaptHealth

Corp

(d)

94,880‌

2,033‌

Amphastar

Pharmaceuticals

Inc

(d)

46,574‌

1,409‌

Anika

Therapeutics

Inc

(d)

18,049‌

560‌

Catalyst

Pharmaceuticals

Inc

(d)

118,290‌

1,832‌

Coherus

Biosciences

Inc

(d)

79,756‌

676‌

Collegium

Pharmaceutical

Inc

(d)

41,476‌

1,165‌

Corcept

Therapeutics

Inc

(d)

118,368‌

2,706‌

Eagle

Pharmaceuticals

Inc/DE

(d)

12,864‌

437‌

Enanta

Pharmaceuticals

Inc

(d)

24,068‌

1,285‌

Harmony

Biosciences

Holdings

Inc

(d)

36,642‌

1,765‌

Heska

Corp

(d)

12,573‌

1,124‌

Ironwood

Pharmaceuticals

Inc

(d)

164,877‌

1,899‌

Owens

&

Minor

Inc

(d)

94,184‌

1,859‌

Pacira

BioSciences

Inc

(d)

56,685‌

2,226‌

Phibro

Animal

Health

Corp

25,127‌

387‌

Prestige

Consumer

Healthcare

Inc

(d)

61,188‌

4,024‌

Supernus

Pharmaceuticals

Inc

(d)

66,787‌

2,739‌

uniQure

NV

(d)

50,898‌

1,082‌

USANA

Health

Sciences

Inc

(d)

13,762‌

804‌

Vanda

Pharmaceuticals

Inc

(d)

69,915‌

537‌

$

30,549‌

Real

Estate

-

0

.67

%

Anywhere

Real

Estate

Inc

(d)

135,259‌

1,147‌

Cushman

&

Wakefield

PLC

(d)

200,820‌

2,898‌

Douglas

Elliman

Inc

83,314‌

388‌

Marcus

&

Millichap

Inc

30,640‌

1,110‌

RE/MAX

Holdings

Inc

22,541‌

514‌

St

Joe

Co/The

41,801‌

1,969‌

$

8,026‌

REITs

-

8

.42

%

Acadia

Realty

Trust

117,316‌

1,822‌

Agree

Realty

Corp

109,429‌

8,167‌

Alexander

&

Baldwin

Inc

89,626‌

1,794‌

American

Assets

Trust

Inc

64,310‌

1,830‌

Apollo

Commercial

Real

Estate

Finance

Inc

159,806‌

1,945‌

Armada

Hoffler

Properties

Inc

83,678‌

1,061‌

ARMOUR

Residential

REIT

Inc

163,255‌

1,025‌

Brandywine

Realty

Trust

211,969‌

1,390‌

CareTrust

REIT

Inc

119,876‌

2,484‌

Centerspace

18,617‌

1,259‌

Chatham

Lodging

Trust

60,300‌

857‌

Community

Healthcare

Trust

Inc

29,067‌

1,246‌

DiamondRock

Hospitality

Co

258,677‌

2,491‌

Easterly

Government

Properties

Inc

112,147‌

1,821‌

Ellington

Financial

Inc

70,936‌

974‌

Elme

Communities

108,124‌

2,076‌

Schedule

of

Investments

SmallCap

S&P

600

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

230

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

(continued)

Essential

Properties

Realty

Trust

Inc

175,902‌

$

4,482‌

Four

Corners

Property

Trust

Inc

103,640‌

2,981‌

Franklin

BSP

Realty

Trust

Inc

101,901‌

1,478‌

Franklin

Street

Properties

Corp

113,514‌

350‌

Getty

Realty

Corp

52,541‌

1,914‌

Global

Net

Lease

Inc

128,235‌

1,917‌

Granite

Point

Mortgage

Trust

Inc

64,677‌

432‌

Hersha

Hospitality

Trust

40,656‌

374‌

Hudson

Pacific

Properties

Inc

158,436‌

1,805‌

Industrial

Logistics

Properties

Trust

81,007‌

357‌

Innovative

Industrial

Properties

Inc

34,560‌

3,103‌

Invesco

Mortgage

Capital

Inc

43,676‌

642‌

iStar

Inc

107,111‌

994‌

KKR

Real

Estate

Finance

Trust

Inc

70,884‌

1,129‌

LTC

Properties

Inc

50,042‌

1,909‌

LXP

Industrial

Trust

340,648‌

3,934‌

New

York

Mortgage

Trust

Inc

458,437‌

1,430‌

NexPoint

Residential

Trust

Inc

28,093‌

1,419‌

Office

Properties

Income

Trust

60,001‌

1,030‌

Orion

Office

REIT

Inc

69,970‌

675‌

Outfront

Media

Inc

180,498‌

3,592‌

PennyMac

Mortgage

Investment

Trust

109,868‌

1,675‌

Ready

Capital

Corp

121,516‌

1,608‌

Redwood

Trust

Inc

140,041‌

1,171‌

Retail

Opportunity

Investments

Corp

153,868‌

2,436‌

RPT

Realty

105,322‌

1,104‌

Safehold

Inc

29,963‌

1,047‌

Saul

Centers

Inc

15,942‌

682‌

Service

Properties

Trust

204,412‌

1,821‌

SITE

Centers

Corp

228,421‌

3,118‌

Summit

Hotel

Properties

Inc

132,067‌

1,125‌

Sunstone

Hotel

Investors

Inc

259,943‌

2,857‌

Tanger

Factory

Outlet

Centers

Inc

128,917‌

2,464‌

Two

Harbors

Investment

Corp

106,713‌

1,914‌

Uniti

Group

Inc

293,054‌

1,931‌

Universal

Health

Realty

Income

Trust

15,688‌

860‌

Urban

Edge

Properties

145,091‌

2,285‌

Urstadt

Biddle

Properties

Inc

36,883‌

693‌

Veris

Residential

Inc

(d)

97,902‌

1,694‌

Whitestone

REIT

57,354‌

597‌

Xenia

Hotels

&

Resorts

Inc

140,655‌

2,096‌

$

101,367‌

Retail

-

7

.15

%

Abercrombie

&

Fitch

Co

(d)

61,098‌

1,769‌

Academy

Sports

&

Outdoors

Inc

98,512‌

5,755‌

American

Eagle

Outfitters

Inc

215,245‌

3,474‌

America's

Car-Mart

Inc/TX

(d)

7,160‌

617‌

Asbury

Automotive

Group

Inc

(d)

27,345‌

6,016‌

Bed

Bath

&

Beyond

Inc

(d),(e)

94,743‌

267‌

Big

Lots

Inc

35,756‌

585‌

BJ's

Restaurants

Inc

(d)

28,899‌

912‌

Bloomin'

Brands

Inc

108,466‌

2,630‌

Boot

Barn

Holdings

Inc

(d)

36,831‌

3,075‌

Brinker

International

Inc

(d)

54,399‌

2,147‌

Buckle

Inc/The

36,514‌

1,607‌

Caleres

Inc

45,049‌

1,172‌

Cheesecake

Factory

Inc/The

59,080‌

2,319‌

Chico's

FAS

Inc

(d)

154,548‌

814‌

Children's

Place

Inc/The

(d)

16,095‌

730‌

Chuy's

Holdings

Inc

(d)

22,232‌

761‌

Dave

&

Buster's

Entertainment

Inc

(d)

51,847‌

2,248‌

Designer

Brands

Inc

62,824‌

648‌

Dine

Brands

Global

Inc

19,370‌

1,497‌

El

Pollo

Loco

Holdings

Inc

24,259‌

298‌

Genesco

Inc

(d)

15,338‌

741‌

GMS

Inc

(d)

52,392‌

3,108‌

Group

1

Automotive

Inc

18,015‌

3,852‌

Guess?

Inc

37,663‌

873‌

Haverty

Furniture

Cos

Inc

16,344‌

571‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Retail

(continued)

Hibbett

Inc

15,823‌

$

1,050‌

Jack

in

the

Box

Inc

26,016‌

1,977‌

La-Z-Boy

Inc

53,169‌

1,512‌

Leslie's

Inc

(d)

183,162‌

2,837‌

MarineMax

Inc

(d)

26,604‌

831‌

Movado

Group

Inc

19,630‌

694‌

National

Vision

Holdings

Inc

(d)

97,493‌

4,007‌

Nu

Skin

Enterprises

Inc

61,056‌

2,618‌

ODP

Corp/The

(d)

49,805‌

2,570‌

Patrick

Industries

Inc

26,602‌

1,888‌

PC

Connection

Inc

13,966‌

685‌

PetMed

Express

Inc

26,038‌

559‌

PriceSmart

Inc

30,927‌

2,298‌

Ruth's

Hospitality

Group

Inc

37,447‌

648‌

Sally

Beauty

Holdings

Inc

(d)

132,216‌

2,060‌

Shake

Shack

Inc

(d)

46,102‌

2,622‌

Shoe

Carnival

Inc

21,151‌

578‌

Signet

Jewelers

Ltd

57,135‌

4,388‌

Sonic

Automotive

Inc

20,622‌

1,108‌

World

Fuel

Services

Corp

76,498‌

2,165‌

Zumiez

Inc

(d)

19,243‌

497‌

$

86,078‌

Savings

&

Loans

-

1

.79

%

Axos

Financial

Inc

(d)

65,972‌

3,175‌

Banc

of

California

Inc

69,121‌

1,204‌

Berkshire

Hills

Bancorp

Inc

55,626‌

1,727‌

Brookline

Bancorp

Inc

108,937‌

1,425‌

Capitol

Federal

Financial

Inc

159,547‌

1,335‌

Northfield

Bancorp

Inc

51,936‌

777‌

Northwest

Bancshares

Inc

156,890‌

2,218‌

Pacific

Premier

Bancorp

Inc

117,384‌

3,796‌

Provident

Financial

Services

Inc

93,000‌

2,182‌

WSFS

Financial

Corp

76,088‌

3,676‌

$

21,515‌

Semiconductors

-

3

.47

%

Alpha

&

Omega

Semiconductor

Ltd

(d)

27,427‌

904‌

Axcelis

Technologies

Inc

(d)

40,584‌

4,462‌

CEVA

Inc

(d)

28,648‌

949‌

Cohu

Inc

(d)

58,845‌

2,123‌

Diodes

Inc

(d)

56,177‌

5,010‌

FormFactor

Inc

(d)

95,162‌

2,678‌

Kulicke

&

Soffa

Industries

Inc

71,741‌

3,666‌

MaxLinear

Inc

(d)

89,301‌

3,679‌

Onto

Innovation

Inc

(d)

61,177‌

4,812‌

Photronics

Inc

(d)

76,214‌

1,381‌

Rambus

Inc

(d)

132,790‌

5,374‌

Semtech

Corp

(d)

78,472‌

2,592‌

SMART

Global

Holdings

Inc

(d)

60,069‌

1,033‌

Ultra

Clean

Holdings

Inc

(d)

56,210‌

1,891‌

Veeco

Instruments

Inc

(d)

63,533‌

1,262‌

$

41,816‌

Software

-

2

.98

%

8x8

Inc

(d)

137,986‌

650‌

Adeia

Inc

129,797‌

1,421‌

Agilysys

Inc

(d)

24,463‌

2,044‌

Apollo

Medical

Holdings

Inc

(d)

49,055‌

1,748‌

Avid

Technology

Inc

(d)

41,024‌

1,243‌

Cerence

Inc

(d)

48,656‌

1,193‌

Computer

Programs

and

Systems

Inc

(d)

17,577‌

516‌

Consensus

Cloud

Solutions

Inc

(d)

21,802‌

1,281‌

CSG

Systems

International

Inc

37,453‌

2,235‌

Digi

International

Inc

(d)

43,601‌

1,482‌

Digital

Turbine

Inc

(d)

111,322‌

1,933‌

Donnelley

Financial

Solutions

Inc

(d)

30,922‌

1,410‌

DoubleVerify

Holdings

Inc

(d)

91,612‌

2,491‌

Ebix

Inc

29,016‌

553‌

LivePerson

Inc

(d)

86,550‌

1,115‌

NextGen

Healthcare

Inc

(d)

67,653‌

1,287‌

PDF

Solutions

Inc

(d)

36,486‌

1,160‌

Schedule

of

Investments

SmallCap

S&P

600

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

231

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Software

(continued)

Progress

Software

Corp

53,122‌

$

2,818‌

Simulations

Plus

Inc

19,812‌

815‌

SPS

Commerce

Inc

(d)

44,529‌

6,059‌

Veradigm

Inc

(d)

134,987‌

2,418‌

$

35,872‌

Telecommunications

-

1

.68

%

A10

Networks

Inc

78,946‌

1,222‌

ADTRAN

Holdings

Inc

87,307‌

1,647‌

ATN

International

Inc

13,242‌

647‌

Clearfield

Inc

(d)

14,128‌

1,010‌

Consolidated

Communications

Holdings

Inc

(d)

91,242‌

397‌

Extreme

Networks

Inc

(d)

162,272‌

2,926‌

Gogo

Inc

(d)

80,191‌

1,345‌

Harmonic

Inc

(d)

130,263‌

1,716‌

InterDigital

Inc

36,648‌

2,563‌

NETGEAR

Inc

(d)

35,704‌

713‌

Shenandoah

Telecommunications

Co

61,894‌

1,210‌

Telephone

and

Data

Systems

Inc

123,313‌

1,649‌

Viavi

Solutions

Inc

(d)

279,659‌

3,160‌

$

20,205‌

Textiles

-

0

.31

%

UniFirst

Corp/MA

18,629‌

3,697‌

Transportation

-

1

.81

%

ArcBest

Corp

30,168‌

2,518‌

Atlas

Air

Worldwide

Holdings

Inc

(d)

31,842‌

3,255‌

Dorian

LPG

Ltd

39,383‌

782‌

Forward

Air

Corp

32,852‌

3,543‌

Heartland

Express

Inc

57,539‌

968‌

Hub

Group

Inc

(d)

40,343‌

3,440‌

Marten

Transport

Ltd

71,137‌

1,571‌

Matson

Inc

46,677‌

3,086‌

RXO

Inc

(d)

142,220‌

2,605‌

$

21,768‌

Trucking

&

Leasing

-

0

.10

%

Greenbrier

Cos

Inc/The

40,502‌

1,252‌

Water

-

1

.07

%

American

States

Water

Co

45,665‌

4,300‌

California

Water

Service

Group

67,734‌

4,143‌

Middlesex

Water

Co

21,793‌

1,828‌

SJW

Group

32,964‌

2,552‌

$

12,823‌

TOTAL

COMMON

STOCKS

$

1,183,820‌

Total

Investments

$

1,203,885‌

Other

Assets

and

Liabilities

-  0.01%

139‌

TOTAL

NET

ASSETS

-

100.00%

$

1,204,024‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$277

or

0.02%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$265

or

0.02%

of

net

assets.

Portfolio

Summary  (unaudited)

Sector

Percent

Financial

24

.72‌

%

Consumer,

Non-cyclical

18

.19‌

%

Industrial

17

.25‌

%

Consumer,

Cyclical

15

.12‌

%

Technology

7

.49‌

%

Basic

Materials

5

.01‌

%

Energy

4

.59‌

%

Communications

3

.63‌

%

Utilities

2

.32‌

%

Money

Market

Funds

1

.54‌

%

Investment

Companies

0

.13‌

%

Other

Assets

and

Liabilities

0

.01‌

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

73,664‌

$

55,404‌

$

18,260‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

28,521‌

24,793‌

53,314‌

—‌

$

28,521‌

$

98,457‌

$

108,718‌

$

18,260‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

94‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

76‌

—‌

—‌

—‌

$

170‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Schedule

of

Investments

SmallCap

S&P

600

Index

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

232

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Russell

2000

Emini;

March

2023

Long

190‌

$

18,424‌

$

386‌

Total

$

386‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

SmallCap

Value

Fund

II

January

31,

2023

(unaudited)

See

accompanying

notes.

233

INVESTMENT

COMPANIES

-

5

.48

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.15

%

iShares

Russell

2000

Value

ETF

11,800‌

$

1,795‌

Money

Market

Funds

-

5

.33

%

BlackRock

Liquidity

FedFund

-

Institutional

Class

4.07%

(a),(b)

2,676,965‌

2,676‌

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

(a),(b),(c)

59,614,063‌

59,615‌

$

62,291‌

TOTAL

INVESTMENT

COMPANIES

$

64,086‌

COMMON

STOCKS

-

95

.36

%

Shares

Held

Value

(000's)

Advertising

-

0

.14

%

Advantage

Solutions

Inc

(d)

5,731‌

$

15‌

Boston

Omaha

Corp

(d)

1,234‌

33‌

Clear

Channel

Outdoor

Holdings

Inc

(d)

21,723‌

41‌

Entravision

Communications

Corp

1,242‌

8‌

Quotient

Technology

Inc

(d)

4,821‌

20‌

Stagwell

Inc

(d)

218,662‌

1,535‌

$

1,652‌

Aerospace

&

Defense

-

0

.61

%

AAR

Corp

(d)

2,029‌

104‌

Aerojet

Rocketdyne

Holdings

Inc

(d)

1,174‌

66‌

AerSale

Corp

(d)

77,932‌

1,450‌

Archer

Aviation

Inc

(d)

8,480‌

25‌

Astra

Space

Inc

(d)

11,488‌

7‌

Astronics

Corp

(d)

1,514‌

23‌

Barnes

Group

Inc

33,542‌

1,484‌

Ducommun

Inc

(d)

655‌

38‌

Joby

Aviation

Inc

(d),(e)

1,744‌

8‌

Kaman

Corp

1,679‌

42‌

Kratos

Defense

&

Security

Solutions

Inc

(d)

7,444‌

85‌

Momentus

Inc

(d)

3,388‌

3‌

Moog

Inc

18,827‌

1,795‌

National

Presto

Industries

Inc

25,647‌

1,965‌

Redwire

Corp

(d)

1,546‌

4‌

Triumph

Group

Inc

(d)

3,854‌

44‌

$

7,143‌

Agriculture

-

0

.14

%

Alico

Inc

435‌

11‌

Andersons

Inc/The

36,420‌

1,340‌

AppHarvest

Inc

(d),(e)

5,660‌

14‌

Benson

Hill

Inc

(d)

5,237‌

14‌

Fresh

Del

Monte

Produce

Inc

1,829‌

52‌

Tejon

Ranch

Co

(d)

1,243‌

25‌

Universal

Corp/VA

1,445‌

79‌

Vector

Group

Ltd

7,422‌

96‌

$

1,631‌

Airlines

-

0

.02

%

Allegiant

Travel

Co

(d)

515‌

44‌

Hawaiian

Holdings

Inc

(d)

3,043‌

38‌

SkyWest

Inc

(d)

2,999‌

62‌

Spirit

Airlines

Inc

6,567‌

130‌

Wheels

Up

Experience

Inc

(d)

11,069‌

14‌

$

288‌

Apparel

-

1

.33

%

Capri

Holdings

Ltd

(d)

124,995‌

8,311‌

Carter's

Inc

6,300‌

525‌

Ermenegildo

Zegna

NV

2,769‌

32‌

Fossil

Group

Inc

(d)

3,087‌

17‌

Kontoor

Brands

Inc

12,100‌

578‌

Lakeland

Industries

Inc

51,500‌

746‌

Oxford

Industries

Inc

270‌

32‌

PLBY

Group

Inc

(d),(e)

2,374‌

7‌

Rocky

Brands

Inc

421‌

13‌

Steven

Madden

Ltd

38,100‌

1,366‌

Superior

Group

of

Cos

Inc

764‌

9‌

Torrid

Holdings

Inc

(d)

560‌

2‌

Urban

Outfitters

Inc

(d)

28,442‌

779‌

Weyco

Group

Inc

384‌

10‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Apparel

(continued)

Wolverine

World

Wide

Inc

192,005‌

$

3,097‌

$

15,524‌

Automobile

Manufacturers

-

0

.22

%

Blue

Bird

Corp

(d)

51,900‌

753‌

Cenntro

Electric

Group

Ltd

(d)

15,013‌

11‌

Hyliion

Holdings

Corp

(d)

7,951‌

28‌

Lordstown

Motors

Corp

(d),(e)

11,615‌

15‌

Nikola

Corp

(d),(e)

1,676‌

5‌

Proterra

Inc

(d)

7,215‌

37‌

REV

Group

Inc

1,957‌

25‌

TuSimple

Holdings

Inc

(d)

8,234‌

17‌

Wabash

National

Corp

65,313‌

1,683‌

Workhorse

Group

Inc

(d),(e)

1,099‌

2‌

$

2,576‌

Automobile

Parts

&

Equipment

-

0

.59

%

Adient

PLC

(d)

54,092‌

2,435‌

Aeva

Technologies

Inc

(d)

5,913‌

10‌

Allison

Transmission

Holdings

Inc

45,700‌

2,060‌

American

Axle

&

Manufacturing

Holdings

Inc

(d)

6,439‌

57‌

Cepton

Inc

(d)

809‌

1‌

Dana

Inc

7,777‌

141‌

Goodyear

Tire

&

Rubber

Co/The

(d)

97,518‌

1,097‌

Methode

Electronics

Inc

2,175‌

104‌

Microvast

Holdings

Inc

(d)

4,439‌

7‌

Miller

Industries

Inc/TN

32,419‌

941‌

Motorcar

Parts

of

America

Inc

(d)

1,116‌

16‌

Solid

Power

Inc

(d),(e)

5,504‌

18‌

Standard

Motor

Products

Inc

1,205‌

49‌

Velodyne

Lidar

Inc

(d)

14,074‌

17‌

$

6,953‌

Banks

-

10

.98

%

1st

Source

Corp

19,195‌

944‌

ACNB

Corp

17,687‌

696‌

Alerus

Financial

Corp

902‌

19‌

Amalgamated

Financial

Corp

1,043‌

24‌

American

National

Bankshares

Inc

615‌

21‌

Ameris

Bancorp

25,181‌

1,188‌

Arrow

Financial

Corp

842‌

28‌

Associated

Banc-Corp

96,691‌

2,166‌

Atlantic

Union

Bankshares

Corp

4,507‌

174‌

BancFirst

Corp

461‌

40‌

Bancorp

Inc/The

(d)

1,356‌

46‌

Bank

First

Corp

448‌

36‌

Bank

of

Marin

Bancorp

18,732‌

570‌

Bank

of

NT

Butterfield

&

Son

Ltd/The

2,808‌

90‌

BankUnited

Inc

64,085‌

2,412‌

Bankwell

Financial

Group

Inc

366‌

11‌

Banner

Corp

2,051‌

133‌

Bar

Harbor

Bankshares

879‌

27‌

BayCom

Corp

26,197‌

527‌

BCB

Bancorp

Inc

29,656‌

533‌

Blue

Foundry

Bancorp

(d)

1,570‌

19‌

Blue

Ridge

Bankshares

Inc

1,104‌

14‌

Bridgewater

Bancshares

Inc

(d)

34,353‌

535‌

Business

First

Bancshares

Inc

1,396‌

29‌

Byline

Bancorp

Inc

1,471‌

36‌

Cadence

Bank

304,511‌

7,789‌

Cambridge

Bancorp

401‌

32‌

Camden

National

Corp

22,144‌

935‌

Capital

Bancorp

Inc

531‌

11‌

Capital

City

Bank

Group

Inc

805‌

26‌

Capstar

Financial

Holdings

Inc

1,215‌

21‌

Carter

Bankshares

Inc

(d)

1,454‌

24‌

Cathay

General

Bancorp

52,740‌

2,318‌

Central

Pacific

Financial

Corp

71,820‌

1,624‌

Central

Valley

Community

Bancorp

30,000‌

747‌

Citizens

&

Northern

Corp

897‌

21‌

City

Holding

Co

877‌

83‌

Civista

Bancshares

Inc

28,897‌

627‌

Schedule

of

Investments

SmallCap

Value

Fund

II

January

31,

2023

(unaudited)

See

accompanying

notes.

234

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

(continued)

CNB

Financial

Corp/PA

20,094‌

$

485‌

Colony

Bankcorp

Inc

975‌

13‌

Columbia

Banking

System

Inc

69,442‌

2,147‌

Community

Bank

System

Inc

3,209‌

185‌

Community

Financial

Corp/The

6,600‌

266‌

Community

Trust

Bancorp

Inc

23,460‌

1,011‌

ConnectOne

Bancorp

Inc

94,027‌

2,235‌

CrossFirst

Bankshares

Inc

(d)

45,066‌

608‌

Customers

Bancorp

Inc

(d)

73,729‌

2,240‌

CVB

Financial

Corp

8,032‌

195‌

Dime

Community

Bancshares

Inc

1,956‌

58‌

Eagle

Bancorp

Inc

45,201‌

2,146‌

Eastern

Bankshares

Inc

7,449‌

120‌

Enterprise

Bancorp

Inc/MA

552‌

20‌

Enterprise

Financial

Services

Corp

23,515‌

1,254‌

Equity

Bancshares

Inc

905‌

27‌

Esquire

Financial

Holdings

Inc

97‌

5‌

Farmers

&

Merchants

Bancorp

Inc/Archbold

OH

490‌

14‌

Farmers

National

Banc

Corp

2,045‌

29‌

FB

Financial

Corp

30,724‌

1,154‌

Financial

Institutions

Inc

19,120‌

472‌

First

Bancorp

Inc/The

576‌

17‌

First

BanCorp/Puerto

Rico

165,735‌

2,229‌

First

Bancorp/Southern

Pines

NC

2,117‌

84‌

First

Bancshares

Inc/The

1,240‌

38‌

First

Bank/Hamilton

NJ

924‌

13‌

First

Busey

Corp

64,101‌

1,530‌

First

Business

Financial

Services

Inc

15,521‌

556‌

First

Commonwealth

Financial

Corp

5,622‌

83‌

First

Community

Bankshares

Inc

950‌

31‌

First

Financial

Bancorp

5,611‌

142‌

First

Financial

Corp/IN

21,864‌

982‌

First

Foundation

Inc

3,074‌

48‌

First

Guaranty

Bancshares

Inc

356‌

8‌

First

Hawaiian

Inc

79,507‌

2,182‌

First

Internet

Bancorp

40,540‌

1,066‌

First

Interstate

BancSystem

Inc

5,358‌

192‌

First

Merchants

Corp

27,338‌

1,166‌

First

Mid

Bancshares

Inc

13,812‌

444‌

First

of

Long

Island

Corp/The

40,718‌

719‌

Five

Star

Bancorp

480‌

13‌

FNB

Corp/PA

115,000‌

1,641‌

Fulton

Financial

Corp

9,777‌

164‌

FVCBankcorp

Inc

(d)

670‌

11‌

German

American

Bancorp

Inc

1,658‌

64‌

Glacier

Bancorp

Inc

5,822‌

265‌

Great

Southern

Bancorp

Inc

16,049‌

938‌

Guaranty

Bancshares

Inc/TX

479‌

16‌

Hancock

Whitney

Corp

5,188‌

267‌

Hanmi

Financial

Corp

93,040‌

2,167‌

HarborOne

Bancorp

Inc

2,615‌

36‌

HBT

Financial

Inc

645‌

14‌

Heartland

Financial

USA

Inc

2,467‌

122‌

Heritage

Commerce

Corp

3,532‌

43‌

Heritage

Financial

Corp/WA

2,075‌

59‌

Hilltop

Holdings

Inc

71,896‌

2,351‌

Home

BancShares

Inc/AR

11,296‌

270‌

HomeStreet

Inc

76,816‌

2,118‌

Hope

Bancorp

Inc

160,593‌

2,070‌

Horizon

Bancorp

Inc/IN

56,619‌

886‌

Independent

Bank

Corp

2,753‌

219‌

Independent

Bank

Corp/MI

59,002‌

1,308‌

Independent

Bank

Group

Inc

2,147‌

132‌

International

Bancshares

Corp

3,221‌

151‌

Investar

Holding

Corp

23,600‌

492‌

John

Marshall

Bancorp

Inc

685‌

17‌

Kearny

Financial

Corp/MD

87,536‌

821‌

Lakeland

Bancorp

Inc

98,443‌

1,897‌

Lakeland

Financial

Corp

130‌

9‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

(continued)

Live

Oak

Bancshares

Inc

50,941‌

$

1,744‌

Luther

Burbank

Corp

37,264‌

437‌

Macatawa

Bank

Corp

53,973‌

594‌

Mercantile

Bank

Corp

28,716‌

985‌

Merchants

Bancorp/IN

17,237‌

496‌

Metrocity

Bankshares

Inc

848‌

17‌

Metropolitan

Bank

Holding

Corp

(d)

564‌

33‌

Mid

Penn

Bancorp

Inc

852‌

27‌

Midland

States

Bancorp

Inc

37,629‌

959‌

MidWestOne

Financial

Group

Inc

23,535‌

733‌

MVB

Financial

Corp

606‌

13‌

National

Bank

Holdings

Corp

1,626‌

69‌

National

Bankshares

Inc

10,000‌

406‌

NBT

Bancorp

Inc

2,511‌

99‌

Nicolet

Bankshares

Inc

(d)

647‌

47‌

Northeast

Bank

14,082‌

665‌

Northeast

Community

Bancorp

Inc

(e)

39,300‌

610‌

Northrim

BanCorp

Inc

13,234‌

708‌

OFG

Bancorp

2,799‌

79‌

Old

National

Bancorp/IN

384,448‌

6,727‌

Old

Second

Bancorp

Inc

2,543‌

43‌

Origin

Bancorp

Inc

1,343‌

50‌

Orrstown

Financial

Services

Inc

606‌

15‌

PacWest

Bancorp

86,700‌

2,398‌

Park

National

Corp

855‌

107‌

Parke

Bancorp

Inc

27,254‌

565‌

Pathward

Financial

Inc

1,243‌

62‌

PCB

Bancorp

32,253‌

599‌

Peapack-Gladstone

Financial

Corp

1,012‌

38‌

Peoples

Bancorp

Inc/OH

1,667‌

49‌

Peoples

Financial

Services

Corp

409‌

21‌

Pioneer

Bancorp

Inc/NY

(d)

759‌

9‌

Popular

Inc

30,500‌

2,094‌

Preferred

Bank/Los

Angeles

CA

29,891‌

2,126‌

Premier

Financial

Corp

60,632‌

1,517‌

Primis

Financial

Corp

37,906‌

449‌

Provident

Bancorp

Inc

945‌

9‌

QCR

Holdings

Inc

933‌

49‌

RBB

Bancorp

23,402‌

472‌

Red

River

Bancshares

Inc

251‌

13‌

Renasant

Corp

3,291‌

117‌

Republic

Bancorp

Inc/KY

14,313‌

644‌

Republic

First

Bancorp

Inc

(d)

3,861‌

8‌

S&T

Bancorp

Inc

2,344‌

85‌

Sandy

Spring

Bancorp

Inc

64,924‌

2,195‌

Seacoast

Banking

Corp

of

Florida

4,352‌

140‌

Shore

Bancshares

Inc

1,061‌

19‌

Sierra

Bancorp

21,717‌

457‌

Silvergate

Capital

Corp

(d),(e)

451‌

6‌

Simmons

First

National

Corp

100,499‌

2,242‌

SmartFinancial

Inc

924‌

25‌

South

Plains

Financial

Inc

591‌

17‌

Southern

First

Bancshares

Inc

(d)

10,925‌

460‌

Southside

Bancshares

Inc

1,832‌

69‌

SouthState

Corp

73,367‌

5,840‌

Stellar

Bancorp

Inc

2,677‌

75‌

Sterling

Bancorp

Inc/MI

(d)

1,123‌

7‌

Stock

Yards

Bancorp

Inc

260‌

16‌

Summit

Financial

Group

Inc

(e)

667‌

17‌

Texas

Capital

Bancshares

Inc

(d)

36,504‌

2,411‌

Third

Coast

Bancshares

Inc

(d)

713‌

13‌

Tompkins

Financial

Corp

828‌

62‌

Towne

Bank/Portsmouth

VA

37,351‌

1,138‌

TriCo

Bancshares

1,869‌

94‌

Triumph

Financial

Inc

876‌

49‌

TrustCo

Bank

Corp

NY

34,152‌

1,226‌

Trustmark

Corp

3,684‌

107‌

UMB

Financial

Corp

2,645‌

239‌

United

Bankshares

Inc/WV

133,976‌

5,386‌

Schedule

of

Investments

SmallCap

Value

Fund

II

January

31,

2023

(unaudited)

See

accompanying

notes.

235

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Banks

(continued)

United

Community

Banks

Inc/GA

152,032‌

$

4,947‌

Unity

Bancorp

Inc

488‌

13‌

Univest

Financial

Corp

41,410‌

1,124‌

USCB

Financial

Holdings

Inc

(d)

705‌

8‌

Valley

National

Bancorp

25,981‌

309‌

Veritex

Holdings

Inc

2,705‌

76‌

Walker

&

Dunlop

Inc

554‌

53‌

Washington

Trust

Bancorp

Inc

26,019‌

1,113‌

WesBanco

Inc

3,429‌

127‌

West

BanCorp

Inc

785‌

17‌

Westamerica

BanCorp

1,166‌

65‌

William

Penn

Bancorp

21,000‌

247‌

Wintrust

Financial

Corp

18,600‌

1,701‌

$

128,448‌

Beverages

-

0

.01

%

Primo

Water

Corp

9,495‌

149‌

Vintage

Wine

Estates

Inc

(d)

2,125‌

6‌

$

155‌

Biotechnology

-

0

.95

%

2seventy

bio

Inc

(d)

2,244‌

31‌

4D

Molecular

Therapeutics

Inc

(d)

1,798‌

38‌

Absci

Corp

(d)

3,455‌

11‌

Achillion

Pharamceuticals

Inc

(d),(f)

8,433‌

4‌

Adicet

Bio

Inc

(d)

1,804‌

17‌

ADMA

Biologics

Inc

(d)

6,212‌

23‌

Aerovate

Therapeutics

Inc

(d),(e)

508‌

12‌

Affimed

NV

(d)

809‌

1‌

Akero

Therapeutics

Inc

(d)

1,933‌

96‌

Allogene

Therapeutics

Inc

(d)

4,796‌

37‌

Allovir

Inc

(d)

2,158‌

13‌

Alpha

Teknova

Inc

(d)

596‌

4‌

Alpine

Immune

Sciences

Inc

(d)

1,000‌

8‌

ALX

Oncology

Holdings

Inc

(d)

1,281‌

12‌

AN2

Therapeutics

Inc

(d)

713‌

9‌

AnaptysBio

Inc

(d)

1,210‌

30‌

ANI

Pharmaceuticals

Inc

(d)

748‌

33‌

Arbutus

Biopharma

Corp

(d)

3,615‌

11‌

Arcellx

Inc

(d)

1,771‌

59‌

Arcturus

Therapeutics

Holdings

Inc

(d)

184‌

4‌

Arcus

Biosciences

Inc

(d)

3,086‌

67‌

Atara

Biotherapeutics

Inc

(d)

5,067‌

26‌

Atea

Pharmaceuticals

Inc

(d)

4,590‌

21‌

Athira

Pharma

Inc

(d)

2,232‌

9‌

Avidity

Biosciences

Inc

(d)

3,199‌

76‌

Berkeley

Lights

Inc

(d)

3,668‌

8‌

BioCryst

Pharmaceuticals

Inc

(d)

3,457‌

37‌

Biohaven

Ltd

(d),(e)

1,421‌

27‌

Bluebird

Bio

Inc

(d)

4,973‌

32‌

Bridgebio

Pharma

Inc

(d)

2,380‌

22‌

C4

Therapeutics

Inc

(d)

2,526‌

20‌

Cara

Therapeutics

Inc

(d)

2,690‌

31‌

Caribou

Biosciences

Inc

(d)

3,371‌

24‌

Celldex

Therapeutics

Inc

(d)

2,166‌

95‌

Century

Therapeutics

Inc

(d)

1,399‌

6‌

Chinook

Therapeutics

Inc

(d)

3,030‌

77‌

CinCor

Pharma

Inc

(d)

1,474‌

43‌

Cogent

Biosciences

Inc

(d)

3,848‌

58‌

Crinetics

Pharmaceuticals

Inc

(d)

2,720‌

53‌

CTI

BioPharma

Corp

(d)

4,850‌

27‌

Cullinan

Oncology

Inc

(d)

1,819‌

21‌

Cytokinetics

Inc

(d)

463‌

20‌

Day

One

Biopharmaceuticals

Inc

(d)

1,658‌

36‌

Deciphera

Pharmaceuticals

Inc

(d)

1,929‌

33‌

Design

Therapeutics

Inc

(d)

2,031‌

16‌

DICE

Therapeutics

Inc

(d)

2,109‌

67‌

Dyne

Therapeutics

Inc

(d)

1,899‌

28‌

Edgewise

Therapeutics

Inc

(d)

2,260‌

23‌

Editas

Medicine

Inc

(d)

4,157‌

41‌

Eiger

BioPharmaceuticals

Inc

(d)

407‌

1‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Biotechnology

(continued)

Emergent

BioSolutions

Inc

(d)

171,826‌

$

2,267‌

Enochian

Biosciences

Inc

(d)

1,873‌

2‌

EQRx

Inc

(d)

12,049‌

30‌

Erasca

Inc

(d)

3,900‌

16‌

EyePoint

Pharmaceuticals

Inc

(d),(e)

1,082‌

5‌

FibroGen

Inc

(d)

640‌

15‌

Generation

Bio

Co

(d)

3,126‌

18‌

Geron

Corp

(d)

6,632‌

22‌

HilleVax

Inc

(d)

886‌

15‌

Icosavax

Inc

(d)

1,430‌

15‌

Ideaya

Biosciences

Inc

(d)

2,645‌

45‌

IGM

Biosciences

Inc

(d)

183‌

4‌

ImmunityBio

Inc

(d),(e)

1,431‌

5‌

ImmunoGen

Inc

(d)

6,542‌

30‌

Immunovant

Inc

(d)

2,654‌

47‌

Inovio

Pharmaceuticals

Inc

(d)

14,704‌

24‌

Instil

Bio

Inc

(d)

5,312‌

4‌

Intellia

Therapeutics

Inc

(d)

1,744‌

74‌

Invivyd

Inc

(d)

4,147‌

9‌

Iovance

Biotherapeutics

Inc

(d)

9,084‌

72‌

iTeos

Therapeutics

Inc

(d)

1,408‌

29‌

Janux

Therapeutics

Inc

(d)

1,097‌

24‌

Keros

Therapeutics

Inc

(d)

90‌

5‌

Kezar

Life

Sciences

Inc

(d)

3,164‌

23‌

Kiniksa

Pharmaceuticals

Ltd

(d)

151‌

2‌

Kinnate

Biopharma

Inc

(d)

2,030‌

15‌

Kodiak

Sciences

Inc

(d)

2,000‌

16‌

Kronos

Bio

Inc

(d)

3,105‌

7‌

Krystal

Biotech

Inc

(d)

846‌

70‌

Kymera

Therapeutics

Inc

(d)

2,269‌

85‌

Lexicon

Pharmaceuticals

Inc

(d)

3,424‌

8‌

Ligand

Pharmaceuticals

Earnout

Shares

(d)

476‌

—‌

Ligand

Pharmaceuticals

Earnout

Shares

(d)

476‌

—‌

Ligand

Pharmaceuticals

Inc

(d)

789‌

55‌

Liquidia

Corp

(d),(e)

1,147‌

8‌

MacroGenics

Inc

(d)

3,624‌

21‌

Maravai

LifeSciences

Holdings

Inc

(d)

283,100‌

4,150‌

MeiraGTx

Holdings

plc

(d)

1,953‌

16‌

Mersana

Therapeutics

Inc

(d)

5,544‌

37‌

Monte

Rosa

Therapeutics

Inc

(d),(e)

1,718‌

13‌

Myriad

Genetics

Inc

(d)

4,786‌

94‌

Nektar

Therapeutics

(d)

10,878‌

30‌

NeoGenomics

Inc

(d)

7,581‌

90‌

NGM

Biopharmaceuticals

Inc

(d)

1,209‌

6‌

Nkarta

Inc

(d)

2,106‌

11‌

Nurix

Therapeutics

Inc

(d)

2,787‌

34‌

Nuvalent

Inc

(d),(e)

1,191‌

36‌

Nuvation

Bio

Inc

(d)

6,908‌

17‌

Organogenesis

Holdings

Inc

(d)

147,100‌

377‌

Pardes

Biosciences

Inc

(d)

3,253‌

7‌

PepGen

Inc

(d)

828‌

13‌

Point

Biopharma

Global

Inc

(d),(e)

428‌

3‌

Praxis

Precision

Medicines

Inc

(d)

2,632‌

13‌

Precigen

Inc

(d)

1,550‌

3‌

Prime

Medicine

Inc

(d)

404‌

7‌

Provention

Bio

Inc

(d)

652‌

6‌

PTC

Therapeutics

Inc

(d)

1,021‌

47‌

Rallybio

Corp

(d),(e)

330‌

2‌

RAPT

Therapeutics

Inc

(d)

522‌

15‌

Recursion

Pharmaceuticals

Inc

(d)

7,473‌

62‌

REGENXBIO

Inc

(d)

2,411‌

56‌

Relay

Therapeutics

Inc

(d)

4,685‌

101‌

Replimune

Group

Inc

(d)

2,437‌

68‌

REVOLUTION

Medicines

Inc

(d)

3,868‌

103‌

Rocket

Pharmaceuticals

Inc

(d)

3,213‌

70‌

Sage

Therapeutics

Inc

(d)

3,131‌

139‌

Sana

Biotechnology

Inc

(d)

5,350‌

24‌

Sangamo

Therapeutics

Inc

(d)

7,532‌

26‌

Scilex

Holding

Co

(d)

3,201‌

25‌

Schedule

of

Investments

SmallCap

Value

Fund

II

January

31,

2023

(unaudited)

See

accompanying

notes.

236

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Biotechnology

(continued)

Seer

Inc

(d)

3,100‌

$

14‌

Singular

Genomics

Systems

Inc

(d),(e)

3,654‌

10‌

Sorrento

Therapeutics

Inc

(d)

22,703‌

22‌

SpringWorks

Therapeutics

Inc

(d)

1,724‌

54‌

Stoke

Therapeutics

Inc

(d)

1,437‌

14‌

Sutro

Biopharma

Inc

(d)

3,222‌

23‌

Syndax

Pharmaceuticals

Inc

(d)

2,444‌

70‌

Talaris

Therapeutics

Inc

(d),(e)

2,185‌

3‌

Tango

Therapeutics

Inc

(d)

2,802‌

19‌

Tarsus

Pharmaceuticals

Inc

(d)

1,097‌

17‌

Tenaya

Therapeutics

Inc

(d)

2,133‌

7‌

Theravance

Biopharma

Inc

(d),(e)

540‌

6‌

Theseus

Pharmaceuticals

Inc

(d)

1,297‌

18‌

Third

Harmonic

Bio

Inc

(d)

576‌

3‌

Travere

Therapeutics

Inc

(d)

364‌

8‌

Twist

Bioscience

Corp

(d)

1,019‌

29‌

Tyra

Biosciences

Inc

(d),(e)

859‌

9‌

Vaxart

Inc

(d),(e)

7,499‌

8‌

VBI

Vaccines

Inc

(d)

14,641‌

9‌

Vera

Therapeutics

Inc

(d)

124‌

1‌

Veracyte

Inc

(d)

4,311‌

108‌

Verve

Therapeutics

Inc

(d)

2,366‌

54‌

Vir

Biotechnology

Inc

(d)

4,363‌

129‌

Viridian

Therapeutics

Inc

(d)

595‌

22‌

VistaGen

Therapeutics

Inc

(d)

3,687‌

1‌

Xencor

Inc

(d)

3,451‌

114‌

Zentalis

Pharmaceuticals

Inc

(d)

226‌

5‌

$

11,063‌

Building

Materials

-

0

.72

%

American

Woodmark

Corp

(d)

929‌

53‌

Boise

Cascade

Co

22,274‌

1,670‌

Caesarstone

Ltd

1,485‌

9‌

Gibraltar

Industries

Inc

(d)

1,853‌

99‌

Griffon

Corp

1,353‌

55‌

JELD-WEN

Holding

Inc

(d)

199,958‌

2,530‌

Louisiana-Pacific

Corp

31,200‌

2,124‌

Modine

Manufacturing

Co

(d)

2,990‌

71‌

PGT

Innovations

Inc

(d)

38,300‌

831‌

SPX

Technologies

Inc

(d)

2,629‌

197‌

Summit

Materials

Inc

(d)

7,136‌

235‌

UFP

Industries

Inc

5,937‌

556‌

View

Inc

(d)

7,266‌

6‌

$

8,436‌

Chemicals

-

3

.89

%

AdvanSix

Inc

37,943‌

1,641‌

American

Vanguard

Corp

286‌

6‌

Amyris

Inc

(d),(e)

10,334‌

16‌

Avient

Corp

1,443‌

58‌

AZZ

Inc

48,869‌

2,076‌

Cabot

Corp

18,000‌

1,356‌

Chemours

Co/The

290,180‌

10,560‌

Danimer

Scientific

Inc

(d),(e)

6,480‌

15‌

Ecovyst

Inc

(d)

225,037‌

2,360‌

Element

Solutions

Inc

939,420‌

19,239‌

Hawkins

Inc

10,940‌

427‌

HB

Fuller

Co

428‌

30‌

Ingevity

Corp

(d)

7,400‌

610‌

Innospec

Inc

217‌

25‌

Intrepid

Potash

Inc

(d)

659‌

22‌

Koppers

Holdings

Inc

1,213‌

42‌

Mativ

Holdings

Inc

(e)

86,495‌

2,384‌

Minerals

Technologies

Inc

21,943‌

1,524‌

NewMarket

Corp

1,600‌

551‌

Origin

Materials

Inc

(d)

2,642‌

16‌

Perimeter

Solutions

SA

(d)

7,040‌

65‌

Quaker

Chemical

Corp

268‌

53‌

Rayonier

Advanced

Materials

Inc

(d)

3,714‌

26‌

Sensient

Technologies

Corp

147‌

11‌

Stepan

Co

1,151‌

126‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Chemicals

(continued)

Terawulf

Inc

(d)

1,459‌

$

1‌

Trinseo

PLC

78,098‌

2,167‌

Tronox

Holdings

PLC

7,046‌

121‌

Unifi

Inc

(d)

912‌

8‌

Valhi

Inc

183‌

5‌

$

45,541‌

Coal

-

0

.03

%

CONSOL

Energy

Inc

128‌

7‌

NACCO

Industries

Inc

281‌

11‌

Peabody

Energy

Corp

(d)

7,091‌

198‌

SunCoke

Energy

Inc

5,016‌

46‌

Warrior

Met

Coal

Inc

2,766‌

105‌

$

367‌

Commercial

Services

-

4

.25

%

2U

Inc

(d)

4,493‌

39‌

Aaron's

Co

Inc/The

126,516‌

1,854‌

ABM

Industries

Inc

28,973‌

1,359‌

Adtalem

Global

Education

Inc

(d)

2,695‌

103‌

Alight

Inc

(d)

20,472‌

192‌

Alta

Equipment

Group

Inc

1,013‌

17‌

American

Public

Education

Inc

(d)

1,119‌

14‌

API

Group

Corp

(d)

12,471‌

277‌

ASGN

Inc

(d)

128,555‌

11,692‌

Bakkt

Holdings

Inc

(d),(e)

4,859‌

8‌

Barrett

Business

Services

Inc

49‌

5‌

BGSF

Inc

30,900‌

447‌

Bird

Global

Inc

(d)

16,242‌

4‌

BrightView

Holdings

Inc

(d)

2,667‌

21‌

Brink's

Co/The

28,400‌

1,863‌

Cass

Information

Systems

Inc

32,868‌

1,596‌

Cipher

Mining

Inc

(d),(e)

3,476‌

4‌

CompoSecure

Inc

(d)

101‌

1‌

CoreCivic

Inc

(d)

6,850‌

73‌

Cross

Country

Healthcare

Inc

(d)

1,847‌

51‌

Custom

Truck

One

Source

Inc

(d)

2,502‌

18‌

Deluxe

Corp

2,599‌

52‌

Distribution

Solutions

Group

Inc

(d)

58‌

2‌

Emerald

Holding

Inc

(d)

152,300‌

608‌

Ennis

Inc

1,520‌

32‌

Euronet

Worldwide

Inc

(d)

20,100‌

2,265‌

European

Wax

Center

Inc

175‌

3‌

First

Advantage

Corp

(d)

3,256‌

45‌

GEO

Group

Inc/The

(d)

7,132‌

82‌

Graham

Holdings

Co

1,022‌

668‌

Green

Dot

Corp

(d)

2,508‌

45‌

Greenidge

Generation

Holdings

Inc

(d)

1,349‌

1‌

Hackett

Group

Inc/The

206‌

5‌

Healthcare

Services

Group

Inc

98,614‌

1,328‌

Heidrick

&

Struggles

International

Inc

64,567‌

1,986‌

Honest

Co

Inc/The

(d)

4,521‌

15‌

Huron

Consulting

Group

Inc

(d)

461‌

31‌

ICF

International

Inc

320‌

33‌

Information

Services

Group

Inc

1,461‌

8‌

John

Wiley

&

Sons

Inc

165‌

8‌

Kelly

Services

Inc

82,560‌

1,495‌

Kforce

Inc

126,255‌

7,087‌

Korn

Ferry

38,265‌

2,066‌

Laureate

Education

Inc

8,095‌

89‌

Lifecore

Biomedical

Inc

(d)

1,821‌

11‌

LiveRamp

Holdings

Inc

(d)

3,973‌

106‌

ManpowerGroup

Inc

14,500‌

1,264‌

Marathon

Digital

Holdings

Inc

(d),(e)

6,997‌

50‌

MarketWise

Inc

(d)

1,268‌

3‌

Medifast

Inc

11,200‌

1,248‌

MoneyGram

International

Inc

(d)

5,645‌

61‌

Moneylion

Inc

(d)

8,820‌

7‌

Monro

Inc

1,860‌

95‌

Multiplan

Corp

(d)

22,394‌

30‌

Paysafe

Ltd

(d)

1,696‌

36‌

Schedule

of

Investments

SmallCap

Value

Fund

II

January

31,

2023

(unaudited)

See

accompanying

notes.

237

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Commercial

Services

(continued)

Perdoceo

Education

Corp

(d)

4,046‌

$

61‌

PFSweb

Inc

1,106‌

7‌

PROG

Holdings

Inc

(d)

2,528‌

56‌

Quad/Graphics

Inc

(d)

2,210‌

10‌

Rent-A-Center

Inc/TX

82,600‌

2,221‌

Repay

Holdings

Corp

(d)

5,274‌

51‌

Resources

Connection

Inc

96,550‌

1,667‌

Riot

Platforms

Inc

(d),(e)

9,476‌

59‌

Sabre

Corp

(d)

15,629‌

106‌

Spire

Global

Inc

(d)

8,128‌

10‌

Sterling

Check

Corp

(d)

155‌

2‌

StoneCo

Ltd

(d)

8,015‌

89‌

Strategic

Education

Inc

1,358‌

127‌

Textainer

Group

Holdings

Ltd

2,239‌

76‌

Triton

International

Ltd

3,490‌

246‌

TrueBlue

Inc

(d)

105,630‌

2,074‌

V2X

Inc

(d)

51,229‌

2,262‌

Viad

Corp

(d)

1,213‌

36‌

Vivint

Smart

Home

Inc

(d)

4,254‌

51‌

Willdan

Group

Inc

(d)

687‌

13‌

WW

International

Inc

(d)

3,524‌

17‌

$

49,744‌

Computers

-

4

.10

%

3D

Systems

Corp

(d)

7,632‌

83‌

Cantaloupe

Inc

(d)

1,532‌

8‌

Conduent

Inc

(d)

10,231‌

49‌

Corsair

Gaming

Inc

(d)

1,007‌

16‌

Desktop

Metal

Inc

(d),(e)

15,603‌

26‌

Diebold

Nixdorf

Inc

(d)

1,697‌

4‌

ExlService

Holdings

Inc

(d)

42,070‌

7,177‌

Insight

Enterprises

Inc

(d)

170,411‌

19,208‌

Integral

Ad

Science

Holding

Corp

(d)

1,545‌

16‌

Markforged

Holding

Corp

(d)

6,610‌

9‌

Maximus

Inc

18,395‌

1,376‌

Mitek

Systems

Inc

(d)

284‌

3‌

NCR

Corp

(d)

58,600‌

1,607‌

NetScout

Systems

Inc

(d)

4,134‌

133‌

OneSpan

Inc

(d)

1,533‌

21‌

PAR

Technology

Corp

(d)

988‌

33‌

Parsons

Corp

(d)

2,018‌

88‌

Rigetti

Computing

Inc

(d)

6,201‌

5‌

SecureWorks

Corp

(d)

768‌

6‌

Super

Micro

Computer

Inc

(d)

21,800‌

1,577‌

Telos

Corp

(d)

250,500‌

1,215‌

TTEC

Holdings

Inc

26,900‌

1,368‌

Unisys

Corp

(d)

1,303‌

7‌

Vuzix

Corp

(d),(e)

720‌

4‌

WNS

Holdings

Ltd

ADR

(d)

164,390‌

13,929‌

$

47,968‌

Consumer

Products

-

0

.23

%

ACCO

Brands

Corp

253,039‌

1,607‌

Central

Garden

&

Pet

Co

(d)

22,570‌

947‌

Central

Garden

&

Pet

Co

-

A

Shares

(d)

1,544‌

61‌

Leafly

Holdings

Inc

(d)

719‌

—‌

Quanex

Building

Products

Corp

1,985‌

51‌

$

2,666‌

Cosmetics

&

Personal

Care

-

0

.26

%

Beauty

Health

Co/The

(d)

724‌

8‌

Coty

Inc

(d)

295,980‌

2,948‌

Edgewell

Personal

Care

Co

3,097‌

133‌

$

3,089‌

Distribution

&

Wholesale

-

2

.77

%

A-Mark

Precious

Metals

Inc

1,079‌

42‌

Core

&

Main

Inc

(d)

349,445‌

7,712‌

G-III

Apparel

Group

Ltd

(d)

113,754‌

1,924‌

Global

Industrial

Co

15,531‌

408‌

KAR

Auction

Services

Inc

(d)

6,482‌

94‌

Resideo

Technologies

Inc

(d)

81,714‌

1,572‌

ScanSource

Inc

(d)

18,491‌

609‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Distribution

&

Wholesale

(continued)

ThredUp

Inc

(d)

3,791‌

$

7‌

Titan

Machinery

Inc

(d)

1,209‌

53‌

Univar

Solutions

Inc

(d)

328,410‌

11,324‌

VSE

Corp

627‌

34‌

Watsco

Inc

29,940‌

8,604‌

$

32,383‌

Diversified

Financial

Services

-

5

.05

%

Amerant

Bancorp

Inc

1,661‌

46‌

Applied

Digital

Corp

(d),(e)

3,257‌

10‌

Artisan

Partners

Asset

Management

Inc

205,540‌

7,568‌

AssetMark

Financial

Holdings

Inc

(d)

1,288‌

34‌

Associated

Capital

Group

Inc

121‌

5‌

Atlanticus

Holdings

Corp

(d)

143‌

5‌

B

Riley

Financial

Inc

9,500‌

406‌

BGC

Partners

Inc

18,876‌

82‌

Bread

Financial

Holdings

Inc

54,009‌

2,215‌

Brightsphere

Investment

Group

Inc

236‌

6‌

Brookfield

Business

Corp

254‌

6‌

Cboe

Global

Markets

Inc

73,510‌

9,033‌

Columbia

Financial

Inc

(d)

1,346‌

27‌

Consumer

Portfolio

Services

Inc

(d),(e)

728‌

7‌

Cowen

Inc

1,592‌

62‌

Cryptyde

Inc

(d)

816‌

—‌

Curo

Group

Holdings

Corp

484‌

2‌

Diamond

Hill

Investment

Group

Inc

6,500‌

1,225‌

Enact

Holdings

Inc

44,400‌

1,116‌

Encore

Capital

Group

Inc

(d)

1,376‌

77‌

Enova

International

Inc

(d)

1,832‌

84‌

Evercore

Inc

-

Class

A

18,000‌

2,337‌

EZCORP

Inc

(d)

3,004‌

27‌

Federal

Agricultural

Mortgage

Corp

537‌

71‌

Federated

Hermes

Inc

54,300‌

2,134‌

Finance

Of

America

Cos

Inc

(d)

2,956‌

5‌

First

Western

Financial

Inc

(d)

465‌

12‌

GCM

Grosvenor

Inc

538‌

5‌

Greenhill

&

Co

Inc

77,899‌

1,077‌

Hannon

Armstrong

Sustainable

Infrastructure

Capital

Inc

4,881‌

180‌

Home

Point

Capital

Inc

838‌

1‌

International

Money

Express

Inc

(d)

88,600‌

2,017‌

Janus

Henderson

Group

PLC

80,700‌

2,092‌

LendingClub

Corp

(d)

5,858‌

57‌

Moelis

&

Co

137,405‌

6,423‌

Mr

Cooper

Group

Inc

(d)

4,152‌

191‌

Navient

Corp

135,541‌

2,571‌

Nelnet

Inc

869‌

83‌

Oportun

Financial

Corp

(d)

1,826‌

13‌

Oppenheimer

Holdings

Inc

456‌

22‌

OppFi

Inc

(d)

1,305‌

3‌

PennyMac

Financial

Services

Inc

1,593‌

107‌

Perella

Weinberg

Partners

102,504‌

1,051‌

Piper

Sandler

Cos

1,039‌

148‌

PRA

Group

Inc

(d)

2,312‌

93‌

Radian

Group

Inc

99,157‌

2,191‌

Regional

Management

Corp

453‌

16‌

Sculptor

Capital

Management

Inc

871‌

8‌

Silvercrest

Asset

Management

Group

Inc

28,458‌

538‌

SLM

Corp

123,300‌

2,166‌

StoneX

Group

Inc

(d)

932‌

82‌

Sunlight

Financial

Holdings

Inc

(d)

2,303‌

3‌

SWK

Holdings

Corp

(d)

271‌

5‌

Velocity

Financial

Inc

(d)

605‌

6‌

Victory

Capital

Holdings

Inc

56,430‌

1,672‌

Virtu

Financial

Inc

411,470‌

7,946‌

Virtus

Investment

Partners

Inc

8,069‌

1,734‌

World

Acceptance

Corp

(d)

90‌

9‌

$

59,112‌

Schedule

of

Investments

SmallCap

Value

Fund

II

January

31,

2023

(unaudited)

See

accompanying

notes.

238

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Electric

-

1

.59

%

ALLETE

Inc

38,167‌

$

2,361‌

Altus

Power

Inc

(d)

1,953‌

16‌

Avista

Corp

57,392‌

2,290‌

Black

Hills

Corp

33,311‌

2,411‌

Hawaiian

Electric

Industries

Inc

49,800‌

2,105‌

MGE

Energy

Inc

1,247‌

91‌

NorthWestern

Corp

37,570‌

2,134‌

Ormat

Technologies

Inc

1,295‌

120‌

Otter

Tail

Corp

36,262‌

2,326‌

PNM

Resources

Inc

46,083‌

2,281‌

Portland

General

Electric

Co

49,986‌

2,378‌

Unitil

Corp

946‌

49‌

Via

Renewables

Inc

147‌

1‌

$

18,563‌

Electrical

Components

&

Equipment

-

0

.55

%

Belden

Inc

27,478‌

2,229‌

Encore

Wire

Corp

4,504‌

727‌

EnerSys

21,970‌

1,824‌

ESS

Tech

Inc

(d),(e)

742‌

2‌

Insteel

Industries

Inc

49,300‌

1,478‌

nLight

Inc

(d)

2,669‌

33‌

Powell

Industries

Inc

3,740‌

148‌

$

6,441‌

Electronics

-

3

.08

%

Advanced

Energy

Industries

Inc

88,615‌

8,218‌

Akoustis

Technologies

Inc

(d)

285‌

1‌

Allied

Motion

Technologies

Inc

110‌

4‌

Avnet

Inc

47,700‌

2,189‌

Benchmark

Electronics

Inc

22,095‌

619‌

Brady

Corp

606‌

32‌

Coherent

Corp

(d)

254,205‌

11,032‌

Comtech

Telecommunications

Corp

1,549‌

25‌

Evolv

Technologies

Holdings

Inc

(d)

5,460‌

17‌

FARO

Technologies

Inc

(d)

1,008‌

28‌

GoPro

Inc

(d)

7,784‌

48‌

Itron

Inc

(d)

44,990‌

2,585‌

Kimball

Electronics

Inc

(d)

47,634‌

1,216‌

Knowles

Corp

(d)

5,394‌

104‌

Mirion

Technologies

Inc

(d)

8,253‌

66‌

OSI

Systems

Inc

(d)

844‌

80‌

Plexus

Corp

(d)

21,332‌

2,047‌

Sanmina

Corp

(d)

26,441‌

1,611‌

Stoneridge

Inc

(d)

1,331‌

33‌

TTM

Technologies

Inc

(d)

102,204‌

1,607‌

Turtle

Beach

Corp

(d)

332‌

3‌

Vishay

Intertechnology

Inc

104,872‌

2,400‌

Vishay

Precision

Group

Inc

(d)

737‌

32‌

Vontier

Corp

90,900‌

2,093‌

$

36,090‌

Energy

-

Alternate

Sources

-

0

.17

%

Aemetis

Inc

(d),(e)

2,052‌

10‌

Alto

Ingredients

Inc

(d)

103,224‌

350‌

Cleanspark

Inc

(d),(e)

3,539‌

11‌

Eneti

Inc

1,314‌

14‌

FuelCell

Energy

Inc

(d)

6,691‌

24‌

FutureFuel

Corp

1,460‌

14‌

Gevo

Inc

(d)

11,755‌

25‌

Green

Plains

Inc

(d)

3,219‌

112‌

REX

American

Resources

Corp

(d)

39,907‌

1,306‌

Stem

Inc

(d)

594‌

6‌

Sunnova

Energy

International

Inc

(d)

5,978‌

116‌

$

1,988‌

Engineering

&

Construction

-

0

.68

%

908

Devices

Inc

(d)

1,170‌

11‌

Arcosa

Inc

2,910‌

173‌

Atlas

Technical

Consultants

Inc

(d)

536‌

7‌

Concrete

Pumping

Holdings

Inc

(d)

1,723‌

14‌

Fluor

Corp

(d)

58,535‌

2,151‌

Frontdoor

Inc

(d)

4,982‌

135‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Engineering

&

Construction

(continued)

Granite

Construction

Inc

2,658‌

$

113‌

Great

Lakes

Dredge

&

Dock

Corp

(d)

109,569‌

754‌

IES

Holdings

Inc

(d)

179‌

7‌

Latham

Group

Inc

(d)

350,500‌

1,542‌

Primoris

Services

Corp

26,097‌

694‌

Sterling

Infrastructure

Inc

(d)

15,902‌

579‌

Tutor

Perini

Corp

(d)

196,935‌

1,806‌

$

7,986‌

Entertainment

-

2

.24

%

Bally's

Corp

(d)

300,843‌

5,978‌

Cinemark

Holdings

Inc

(d)

1,499‌

18‌

Everi

Holdings

Inc

(d)

477,827‌

8,300‌

IMAX

Corp

(d)

1,118‌

19‌

International

Game

Technology

PLC

423,075‌

11,190‌

Light

&

Wonder

Inc

(d)

5,672‌

370‌

Lions

Gate

Entertainment

Corp

-

A

shares

(d)

3,505‌

28‌

Lions

Gate

Entertainment

Corp

-

B

shares

(d)

6,954‌

53‌

Madison

Square

Garden

Entertainment

Corp

(d)

1,540‌

81‌

RCI

Hospitality

Holdings

Inc

49‌

4‌

Red

Rock

Resorts

Inc

1,659‌

75‌

Reservoir

Media

Inc

(d)

140‌

1‌

SeaWorld

Entertainment

Inc

(d)

1,171‌

73‌

$

26,190‌

Environmental

Control

-

0

.01

%

Centrus

Energy

Corp

(d)

630‌

26‌

Harsco

Corp

(d)

4,727‌

37‌

Heritage-Crystal

Clean

Inc

(d)

933‌

35‌

Li-Cycle

Holdings

Corp

(d),(e)

5,075‌

28‌

PureCycle

Technologies

Inc

(d),(e)

1,449‌

12‌

$

138‌

Food

-

1

.08

%

B&G

Foods

Inc

(e)

103,457‌

1,451‌

Boxed

Inc

(d)

5,448‌

3‌

Cal-Maine

Foods

Inc

193‌

11‌

Chefs'

Warehouse

Inc/The

(d)

597‌

23‌

Hain

Celestial

Group

Inc/The

(d)

5,369‌

110‌

HF

Foods

Group

Inc

(d)

2,296‌

11‌

Hostess

Brands

Inc

(d)

8,014‌

185‌

Ingles

Markets

Inc

847‌

80‌

John

B

Sanfilippo

&

Son

Inc

199‌

17‌

Krispy

Kreme

Inc

3,181‌

39‌

Lancaster

Colony

Corp

176‌

34‌

Mission

Produce

Inc

(d)

2,123‌

26‌

Natural

Grocers

by

Vitamin

Cottage

Inc

43,713‌

434‌

Performance

Food

Group

Co

(d)

158,975‌

9,748‌

Seneca

Foods

Corp

-

Class

A

(d)

290‌

18‌

SpartanNash

Co

2,079‌

66‌

SunOpta

Inc

(d)

507‌

4‌

Tattooed

Chef

Inc

(d),(e)

299‌

—‌

Tootsie

Roll

Industries

Inc

172‌

8‌

TreeHouse

Foods

Inc

(d)

3,056‌

148‌

United

Natural

Foods

Inc

(d)

3,250‌

135‌

Utz

Brands

Inc

571‌

10‌

Village

Super

Market

Inc

545‌

13‌

Weis

Markets

Inc

981‌

85‌

Whole

Earth

Brands

Inc

(d)

2,669‌

10‌

$

12,669‌

Food

Service

-

0

.00

%

Sovos

Brands

Inc

(d)

769‌

10‌

Forest

Products

&

Paper

-

0

.14

%

Clearwater

Paper

Corp

(d)

996‌

38‌

Glatfelter

Corp

2,889‌

13‌

Mercer

International

Inc

120,600‌

1,535‌

Resolute

Forest

Products

Inc

(d)

2,760‌

60‌

Sylvamo

Corp

140‌

7‌

$

1,653‌

Schedule

of

Investments

SmallCap

Value

Fund

II

January

31,

2023

(unaudited)

See

accompanying

notes.

239

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Gas

-

2

.44

%

Chesapeake

Utilities

Corp

451‌

$

57‌

New

Jersey

Resources

Corp

5,332‌

266‌

Northwest

Natural

Holding

Co

43,779‌

2,195‌

ONE

Gas

Inc

29,234‌

2,408‌

South

Jersey

Industries

Inc

55,648‌

2,008‌

Southwest

Gas

Holdings

Inc

152,622‌

10,215‌

Spire

Inc

158,082‌

11,417‌

$

28,566‌

Hand

&

Machine

Tools

-

1

.06

%

Enerpac

Tool

Group

Corp

48,300‌

1,282‌

Franklin

Electric

Co

Inc

120,870‌

10,914‌

Kennametal

Inc

4,897‌

140‌

Luxfer

Holdings

PLC

975‌

16‌

$

12,352‌

Healthcare

-

Products

-

0

.84

%

Adaptive

Biotechnologies

Corp

(d)

6,371‌

59‌

Alphatec

Holdings

Inc

(d)

580‌

8‌

AngioDynamics

Inc

(d)

2,232‌

29‌

Artivion

Inc

(d)

449‌

6‌

AtriCure

Inc

(d)

954‌

41‌

Avanos

Medical

Inc

(d)

2,781‌

85‌

Avantor

Inc

(d)

359,860‌

8,601‌

BioLife

Solutions

Inc

(d)

1,867‌

44‌

Bionano

Genomics

Inc

(d),(e)

17,371‌

31‌

Bioventus

Inc

(d)

2,553‌

5‌

Butterfly

Network

Inc

(d),(e)

7,948‌

22‌

Cardiovascular

Systems

Inc

(d)

1,083‌

15‌

Castle

Biosciences

Inc

(d)

1,468‌

40‌

Cue

Health

Inc

(d)

6,493‌

17‌

Embecta

Corp

509‌

13‌

Inari

Medical

Inc

(d)

248‌

14‌

Inogen

Inc

(d)

1,299‌

30‌

Integer

Holdings

Corp

(d)

1,975‌

130‌

LivaNova

PLC

(d)

755‌

42‌

MaxCyte

Inc

(d)

5,237‌

31‌

Merit

Medical

Systems

Inc

(d)

461‌

33‌

MiMedx

Group

Inc

(d)

6,772‌

26‌

NanoString

Technologies

Inc

(d)

458‌

5‌

Nautilus

Biotechnology

Inc

(d)

3,637‌

7‌

Neogen

Corp

(d)

1,037‌

22‌

OmniAb

Inc

(d)

4,025‌

17‌

OraSure

Technologies

Inc

(d)

4,318‌

24‌

Orthofix

Medical

Inc

(d)

2,065‌

45‌

Pacific

Biosciences

of

California

Inc

(d)

13,616‌

151‌

Patterson

Cos

Inc

1,108‌

34‌

Quanterix

Corp

(d)

1,764‌

25‌

Quantum-Si

Inc

(d)

6,338‌

14‌

RxSight

Inc

(d)

137‌

2‌

SomaLogic

Inc

(d)

7,816‌

27‌

Tactile

Systems

Technology

Inc

(d)

824‌

11‌

Tenon

Medical

Inc

(d),(e)

37‌

—‌

Utah

Medical

Products

Inc

26‌

2‌

Varex

Imaging

Corp

(d)

2,318‌

50‌

ViewRay

Inc

(d)

1,288‌

6‌

Zimvie

Inc

(d)

1,364‌

13‌

$

9,777‌

Healthcare

-

Services

-

0

.85

%

23andMe

Holding

Co

(d)

8,869‌

22‌

Accolade

Inc

(d)

3,913‌

46‌

Addus

HomeCare

Corp

(d)

555‌

60‌

American

Well

Corp

(d)

13,804‌

55‌

ATI

Physical

Therapy

Inc

(d)

7,088‌

3‌

Aveanna

Healthcare

Holdings

Inc

(d)

4,219‌

5‌

Bright

Health

Group

Inc

(d)

13,420‌

12‌

Brookdale

Senior

Living

Inc

(d)

11,180‌

32‌

CareMax

Inc

(d)

3,562‌

17‌

Community

Health

Systems

Inc

(d)

7,534‌

39‌

Fulgent

Genetics

Inc

(d)

1,241‌

42‌

GeneDx

Holdings

Corp

(d)

12,002‌

5‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Healthcare

-

Services

(continued)

Innovage

Holding

Corp

(d)

1,108‌

$

8‌

Inotiv

Inc

(d),(e)

1,408‌

10‌

Invitae

Corp

(d)

14,125‌

33‌

LifeStance

Health

Group

Inc

(d)

4,059‌

22‌

ModivCare

Inc

(d)

515‌

55‌

Nano-X

Imaging

Ltd

(d),(e)

2,499‌

23‌

National

HealthCare

Corp

23,346‌

1,391‌

OPKO

Health

Inc

(d)

23,959‌

31‌

Oscar

Health

Inc

(d)

7,068‌

27‌

P3

Health

Partners

Inc

(d)

869‌

1‌

Pediatrix

Medical

Group

Inc

(d)

4,904‌

75‌

Science

37

Holdings

Inc

(d)

630‌

—‌

Select

Medical

Holdings

Corp

49,843‌

1,449‌

Surgery

Partners

Inc

(d)

393‌

13‌

Tenet

Healthcare

Corp

(d)

117,940‌

6,469‌

$

9,945‌

Home

Builders

-

2

.31

%

Beazer

Homes

USA

Inc

(d)

1,785‌

29‌

Century

Communities

Inc

21,506‌

1,317‌

Forestar

Group

Inc

(d)

826‌

12‌

Green

Brick

Partners

Inc

(d)

49,385‌

1,541‌

Installed

Building

Products

Inc

96,115‌

10,581‌

KB

Home

41,396‌

1,592‌

Landsea

Homes

Corp

(d)

895‌

6‌

LGI

Homes

Inc

(d)

1,145‌

130‌

M/I

Homes

Inc

(d)

22,262‌

1,331‌

MDC

Holdings

Inc

2,545‌

96‌

Meritage

Homes

Corp

(d)

54,220‌

5,839‌

Taylor

Morrison

Home

Corp

(d)

39,685‌

1,421‌

Thor

Industries

Inc

17,900‌

1,706‌

Tri

Pointe

Homes

Inc

(d)

59,901‌

1,323‌

Winnebago

Industries

Inc

1,775‌

113‌

$

27,037‌

Home

Furnishings

-

0

.39

%

Aterian

Inc

(d)

4,590‌

7‌

Ethan

Allen

Interiors

Inc

1,353‌

39‌

Hooker

Furnishings

Corp

58,565‌

1,233‌

iRobot

Corp

(d)

207‌

9‌

MillerKnoll

Inc

108,774‌

2,597‌

Purple

Innovation

Inc

(d)

2,933‌

17‌

Sleep

Number

Corp

(d)

14,701‌

505‌

Snap

One

Holdings

Corp

(d)

1,252‌

12‌

Traeger

Inc

(d)

2,445‌

9‌

Universal

Electronics

Inc

(d)

719‌

17‌

Weber

Inc

(e)

1,658‌

14‌

Xperi

Inc

(d)

9,114‌

95‌

$

4,554‌

Housewares

-

0

.00

%

Lifetime

Brands

Inc

838‌

6‌

Tupperware

Brands

Corp

(d)

2,898‌

13‌

$

19‌

Insurance

-

4

.65

%

Ambac

Financial

Group

Inc

(d)

2,659‌

44‌

American

Equity

Investment

Life

Holding

Co

46,099‌

2,197‌

AMERISAFE

Inc

1,140‌

63‌

Argo

Group

International

Holdings

Ltd

1,904‌

53‌

Assured

Guaranty

Ltd

31,700‌

1,984‌

Axis

Capital

Holdings

Ltd

26,500‌

1,658‌

Brighthouse

Financial

Inc

(d)

22,800‌

1,283‌

CNO

Financial

Group

Inc

95,701‌

2,465‌

Crawford

&

Co

1,180‌

8‌

Doma

Holdings

Inc

(d)

11,729‌

8‌

Donegal

Group

Inc

926‌

14‌

eHealth

Inc

(d)

1,357‌

11‌

Employers

Holdings

Inc

48,791‌

2,140‌

Enstar

Group

Ltd

(d)

10,441‌

2,530‌

Essent

Group

Ltd

57,245‌

2,520‌

First

American

Financial

Corp

148,990‌

9,218‌

Genworth

Financial

Inc

(d)

29,678‌

164‌

Schedule

of

Investments

SmallCap

Value

Fund

II

January

31,

2023

(unaudited)

See

accompanying

notes.

240

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Insurance

(continued)

Goosehead

Insurance

Inc

(d)

178‌

$

7‌

Greenlight

Capital

Re

Ltd

(d)

54,666‌

538‌

Hippo

Holdings

Inc

(d),(e)

1,013‌

17‌

Horace

Mann

Educators

Corp

60,850‌

2,167‌

Investors

Title

Co

69‌

11‌

Jackson

Financial

Inc

4,483‌

197‌

James

River

Group

Holdings

Ltd

2,206‌

50‌

Kemper

Corp

37,900‌

2,226‌

Lemonade

Inc

(d),(e)

2,791‌

45‌

MBIA

Inc

(d)

2,885‌

38‌

Mercury

General

Corp

29,903‌

1,068‌

MGIC

Investment

Corp

114,200‌

1,613‌

National

Western

Life

Group

Inc

4,215‌

1,167‌

NI

Holdings

Inc

(d)

552‌

7‌

NMI

Holdings

Inc

(d)

95,582‌

2,221‌

Primerica

Inc

3,800‌

615‌

ProAssurance

Corp

3,241‌

63‌

Root

Inc/OH

(d)

696‌

4‌

Safety

Insurance

Group

Inc

12,147‌

1,026‌

Selective

Insurance

Group

Inc

87,360‌

8,299‌

Selectquote

Inc

(d)

565,852‌

488‌

SiriusPoint

Ltd

(d)

285,088‌

2,164‌

Stewart

Information

Services

Corp

35,106‌

1,677‌

Tiptree

Inc

1,482‌

22‌

Trean

Insurance

Group

Inc

(d)

1,558‌

10‌

United

Fire

Group

Inc

17,974‌

566‌

Universal

Insurance

Holdings

Inc

1,284‌

16‌

White

Mountains

Insurance

Group

Ltd

1,100‌

1,681‌

$

54,363‌

Internet

-

0

.20

%

1-800-Flowers.com

Inc

(d)

1,612‌

16‌

1stdibs.com

Inc

(d)

1,553‌

9‌

aka

Brands

Holding

Corp

(d)

1,111‌

2‌

Allbirds

Inc

(d)

4,941‌

14‌

Arena

Group

Holdings

Inc/The

(d)

268‌

2‌

BARK

Inc

(d)

8,328‌

17‌

Blade

Air

Mobility

Inc

(d),(e)

3,650‌

16‌

Bumble

Inc

(d)

5,193‌

134‌

Cars.com

Inc

(d)

3,424‌

58‌

Cogent

Communications

Holdings

Inc

1,168‌

80‌

ContextLogic

Inc

(d),(e)

33,734‌

23‌

DHI

Group

Inc

(d)

628‌

4‌

Edgio

Inc

(d)

1,028‌

2‌

ePlus

Inc

(d)

25,886‌

1,289‌

Eventbrite

Inc

(d)

718‌

6‌

Figs

Inc

(d)

1,246‌

11‌

fuboTV

Inc

(d),(e)

11,081‌

28‌

Groupon

Inc

(d),(e)

1,295‌

11‌

HealthStream

Inc

(d)

1,359‌

33‌

Innovid

Corp

(d)

841‌

2‌

Inspirato

Inc

(d)

1,944‌

2‌

Lands'

End

Inc

(d)

1,001‌

9‌

Liquidity

Services

Inc

(d)

850‌

13‌

Magnite

Inc

(d)

7,884‌

95‌

Overstock.com

Inc

(d)

2,557‌

62‌

QuinStreet

Inc

(d)

2,845‌

44‌

RealReal

Inc/The

(d)

5,496‌

10‌

Rover

Group

Inc

(d),(e)

475‌

2‌

RumbleON

Inc

(d),(e)

789‌

7‌

Solo

Brands

Inc

(d)

1,678‌

7‌

Squarespace

Inc

(d)

1,356‌

32‌

Stitch

Fix

Inc

(d)

3,400‌

18‌

TrueCar

Inc

(d)

5,077‌

16‌

Vacasa

Inc

(d),(e)

7,729‌

13‌

Vivid

Seats

Inc

(d),(e)

1,253‌

11‌

Ziff

Davis

Inc

(d)

2,222‌

199‌

$

2,297‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Investment

Companies

-

0

.02

%

Cannae

Holdings

Inc

(d)

4,158‌

$

102‌

Compass

Diversified

Holdings

3,723‌

83‌

$

185‌

Iron

&

Steel

-

0

.05

%

Carpenter

Technology

Corp

2,871‌

139‌

Commercial

Metals

Co

5,819‌

316‌

Haynes

International

Inc

725‌

40‌

Schnitzer

Steel

Industries

Inc

1,367‌

46‌

$

541‌

Leisure

Products

&

Services

-

0

.42

%

Acushnet

Holdings

Corp

1,419‌

67‌

Bowlero

Corp

(d),(e)

1,758‌

24‌

Clarus

Corp

419‌

4‌

Johnson

Outdoors

Inc

29,811‌

2,041‌

Life

Time

Group

Holdings

Inc

(d)

2,524‌

47‌

Lindblad

Expeditions

Holdings

Inc

(d)

1,857‌

22‌

Topgolf

Callaway

Brands

Corp

(d)

8,429‌

206‌

Virgin

Galactic

Holdings

Inc

(d),(e)

7,589‌

42‌

Vista

Outdoor

Inc

(d)

84,359‌

2,476‌

Xponential

Fitness

Inc

(d)

714‌

20‌

$

4,949‌

Lodging

-

0

.15

%

Bluegreen

Vacations

Holding

Corp

606‌

20‌

Century

Casinos

Inc

(d)

452‌

4‌

Full

House

Resorts

Inc

(d)

1,575‌

14‌

Marcus

Corp/The

1,424‌

21‌

Travel

+

Leisure

Co

40,200‌

1,703‌

$

1,762‌

Machinery

-

Construction

&

Mining

-

0

.02

%

Argan

Inc

770‌

30‌

Astec

Industries

Inc

1,365‌

60‌

Hyster-Yale

Materials

Handling

Inc

642‌

21‌

Manitowoc

Co

Inc/The

(d)

2,081‌

28‌

NuScale

Power

Corp

(d),(e)

1,879‌

20‌

Terex

Corp

2,031‌

104‌

$

263‌

Machinery

-

Diversified

-

3

.15

%

Alamo

Group

Inc

59,406‌

9,295‌

Albany

International

Corp

1,502‌

168‌

Altra

Industrial

Motion

Corp

3,910‌

239‌

CIRCOR

International

Inc

(d)

782‌

22‌

Columbus

McKinnon

Corp/NY

40,578‌

1,458‌

DXP

Enterprises

Inc/TX

(d)

906‌

27‌

Eastman

Kodak

Co

(d)

3,972‌

14‌

Flowserve

Corp

60,300‌

2,076‌

Gates

Industrial

Corp

PLC

(d)

109,100‌

1,441‌

Gorman-Rupp

Co/The

1,110‌

32‌

GrafTech

International

Ltd

245,900‌

1,608‌

Hydrofarm

Holdings

Group

Inc

(d)

3,334‌

6‌

Ichor

Holdings

Ltd

(d)

198,425‌

6,707‌

Mueller

Water

Products

Inc

-

Class

A

132,800‌

1,680‌

Tennant

Co

610‌

43‌

Thermon

Group

Holdings

Inc

(d)

73,074‌

1,690‌

Watts

Water

Technologies

Inc

63,090‌

10,317‌

$

36,823‌

Media

-

0

.30

%

AMC

Networks

Inc

(d)

1,814‌

33‌

Audacy

Inc

(d)

11,424‌

4‌

Cumulus

Media

Inc

(d)

1,168‌

8‌

EW

Scripps

Co/The

(d)

3,517‌

53‌

Gannett

Co

Inc

(d)

8,644‌

19‌

Gray

Television

Inc

180,822‌

2,344‌

iHeartMedia

Inc

(d)

7,261‌

56‌

Liberty

Latin

America

Ltd

-

Class

A

(d)

2,295‌

23‌

Liberty

Latin

America

Ltd

-

Class

C

(d)

8,753‌

86‌

Scholastic

Corp

1,783‌

79‌

TEGNA

Inc

36,509‌

728‌

Thryv

Holdings

Inc

(d)

1,140‌

25‌

Schedule

of

Investments

SmallCap

Value

Fund

II

January

31,

2023

(unaudited)

See

accompanying

notes.

241

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Media

(continued)

Urban

One

Inc

(d)

785‌

$

5‌

Urban

One

Inc

(d)

999‌

5‌

Value

Line

Inc

8‌

—‌

WideOpenWest

Inc

(d)

1,365‌

16‌

$

3,484‌

Metal

Fabrication

&

Hardware

-

1

.38

%

Advanced

Drainage

Systems

Inc

55,300‌

5,577‌

Fathom

Digital

Manufacturing

C

(d)

923‌

1‌

Hillman

Solutions

Corp

(d)

8,108‌

78‌

Mueller

Industries

Inc

21,848‌

1,432‌

Northwest

Pipe

Co

(d)

458‌

17‌

Olympic

Steel

Inc

16,868‌

746‌

Proto

Labs

Inc

(d)

73,681‌

2,254‌

RBC

Bearings

Inc

(d)

1,467‌

358‌

Ryerson

Holding

Corp

37,093‌

1,416‌

Standex

International

Corp

709‌

82‌

Timken

Co/The

25,900‌

2,133‌

TimkenSteel

Corp

(d)

2,644‌

52‌

Tredegar

Corp

107,528‌

1,305‌

Worthington

Industries

Inc

11,783‌

670‌

$

16,121‌

Mining

-

0

.42

%

Arconic

Corp

(d)

55,389‌

1,302‌

Coeur

Mining

Inc

(d)

16,786‌

65‌

Constellium

SE

(d)

94,649‌

1,376‌

Energy

Fuels

Inc/Canada

(d),(e)

1,898‌

14‌

Hecla

Mining

Co

33,368‌

206‌

Hycroft

Mining

Holding

Corp

(d)

2,595‌

1‌

Ivanhoe

Electric

Inc

/

US

(d)

570‌

7‌

Kaiser

Aluminum

Corp

21,146‌

1,851‌

Novagold

Resources

Inc

(d)

966‌

6‌

Piedmont

Lithium

Inc

(d)

744‌

51‌

PolyMet

Mining

Corp

(d)

2,231‌

6‌

United

States

Lime

&

Minerals

Inc

34‌

5‌

Ur-Energy

Inc

(d)

1,965‌

3‌

$

4,893‌

Miscellaneous

Manufacturers

-

2

.09

%

AMMO

Inc

(d),(e)

6,056‌

15‌

Chase

Corp

12,142‌

1,146‌

EnPro

Industries

Inc

1,245‌

151‌

ESCO

Technologies

Inc

1,402‌

138‌

Fabrinet

(d)

93,999‌

12,376‌

Federal

Signal

Corp

138,570‌

7,379‌

Hillenbrand

Inc

37,578‌

1,761‌

Materion

Corp

79‌

7‌

Myers

Industries

Inc

52,900‌

1,274‌

NL

Industries

Inc

638‌

5‌

Park

Aerospace

Corp

1,171‌

16‌

Sight

Sciences

Inc

(d)

1,168‌

13‌

Smith

&

Wesson

Brands

Inc

2,544‌

28‌

Sturm

Ruger

&

Co

Inc

123‌

7‌

Trinity

Industries

Inc

4,202‌

121‌

$

24,437‌

Office

&

Business

Equipment

-

0

.01

%

Xerox

Holdings

Corp

6,887‌

113‌

Office

Furnishings

-

0

.22

%

CompX

International

Inc

151‌

3‌

Interface

Inc

121,524‌

1,383‌

Kimball

International

Inc

152,669‌

1,129‌

Steelcase

Inc

5,239‌

41‌

$

2,556‌

Oil

&

Gas

-

4

.34

%

Amplify

Energy

Corp

(d)

618‌

5‌

Antero

Resources

Corp

(d)

100,460‌

2,897‌

Berry

Corp

235,894‌

2,170‌

Borr

Drilling

Ltd

(d),(e)

6,533‌

39‌

California

Resources

Corp

38,138‌

1,630‌

Callon

Petroleum

Co

(d)

490‌

21‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Oil

&

Gas

(continued)

Chord

Energy

Corp

17,061‌

$

2,445‌

Civitas

Resources

Inc

38,437‌

2,558‌

CNX

Resources

Corp

(d)

10,135‌

170‌

Comstock

Resources

Inc

128,650‌

1,563‌

Crescent

Energy

Co

(e)

161,800‌

1,951‌

Denbury

Inc

(d)

14,300‌

1,241‌

Diamond

Offshore

Drilling

Inc

(d)

6,093‌

70‌

Helmerich

&

Payne

Inc

6,190‌

300‌

Kosmos

Energy

Ltd

(d)

264,321‌

2,091‌

Murphy

Oil

Corp

4,995‌

218‌

Nabors

Industries

Ltd

(d)

78‌

14‌

Noble

Corp

PLC

(d)

21,041‌

857‌

Northern

Oil

and

Gas

Inc

52,798‌

1,770‌

Ovintiv

Inc

67,110‌

3,304‌

Par

Pacific

Holdings

Inc

(d)

60,900‌

1,628‌

Patterson-UTI

Energy

Inc

350,324‌

5,885‌

PBF

Energy

Inc

4,546‌

191‌

PDC

Energy

Inc

76,600‌

5,188‌

Permian

Resources

Corp

229,373‌

2,493‌

Precision

Drilling

Corp

(d)

19,800‌

1,577‌

Ranger

Oil

Corp

37,900‌

1,592‌

Riley

Exploration

Permian

Inc

249‌

8‌

Ring

Energy

Inc

(d),(e)

3,847‌

9‌

Southwestern

Energy

Co

(d)

492,565‌

2,719‌

Talos

Energy

Inc

(d)

67,400‌

1,335‌

Vertex

Energy

Inc

(d),(e)

204,290‌

1,487‌

Vital

Energy

Inc

(d)

23,400‌

1,317‌

W&T

Offshore

Inc

(d)

1,234‌

8‌

$

50,751‌

Oil

&

Gas

Services

-

1

.66

%

Archrock

Inc

8,156‌

81‌

Bristow

Group

Inc

(d)

1,398‌

43‌

ChampionX

Corp

43,500‌

1,436‌

DMC

Global

Inc

(d)

832‌

19‌

Dril-Quip

Inc

(d)

78,897‌

2,423‌

Expro

Group

Holdings

NV

(d)

99,957‌

1,888‌

Helix

Energy

Solutions

Group

Inc

(d)

202,216‌

1,603‌

Liberty

Energy

Inc

89,100‌

1,411‌

National

Energy

Services

Reunited

Corp

(d)

246,791‌

1,865‌

Newpark

Resources

Inc

(d)

322,191‌

1,463‌

NexTier

Oilfield

Solutions

Inc

(d)

130,700‌

1,231‌

NOW

Inc

(d)

6,643‌

93‌

Oceaneering

International

Inc

(d)

614‌

13‌

Oil

States

International

Inc

(d)

3,785‌

32‌

ProFrac

Holding

Corp

(d)

744‌

17‌

ProPetro

Holding

Corp

(d)

129,859‌

1,292‌

Select

Energy

Services

Inc

4,296‌

38‌

Solaris

Oilfield

Infrastructure

Inc

129,100‌

1,367‌

TechnipFMC

PLC

(d)

96,000‌

1,334‌

Tidewater

Inc

(d)

39,781‌

1,727‌

US

Silica

Holdings

Inc

(d)

3,784‌

46‌

$

19,422‌

Packaging

&

Containers

-

0

.15

%

Greif

Inc

-

Class

A

1,261‌

90‌

Greif

Inc

-

Class

B

268‌

22‌

Matthews

International

Corp

1,791‌

66‌

O-I

Glass

Inc

(d)

1,763‌

34‌

Pactiv

Evergreen

Inc

2,595‌

30‌

Ranpak

Holdings

Corp

(d)

2,609‌

20‌

TriMas

Corp

47,115‌

1,451‌

$

1,713‌

Pharmaceuticals

-

1

.08

%

AbCellera

Biologics

Inc

(d)

7,159‌

75‌

AdaptHealth

Corp

(d)

4,345‌

93‌

Agios

Pharmaceuticals

Inc

(d)

3,280‌

97‌

Amylyx

Pharmaceuticals

Inc

(d)

2,422‌

95‌

Anika

Therapeutics

Inc

(d)

868‌

27‌

Beachbody

Co

Inc/The

(d)

6,624‌

4‌

Bioxcel

Therapeutics

Inc

(d),(e)

1,141‌

32‌

Schedule

of

Investments

SmallCap

Value

Fund

II

January

31,

2023

(unaudited)

See

accompanying

notes.

242

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Pharmaceuticals

(continued)

Chimerix

Inc

(d)

2,132‌

$

4‌

Enanta

Pharmaceuticals

Inc

(d)

1,043‌

56‌

Fulcrum

Therapeutics

Inc

(d)

2,598‌

33‌

Gelesis

Holdings

Inc

(d)

1,194‌

—‌

Herbalife

Nutrition

Ltd

(d)

87,674‌

1,541‌

Ironwood

Pharmaceuticals

Inc

(d)

186,900‌

2,153‌

Jounce

Therapeutics

Inc

(d)

3,993‌

5‌

KalVista

Pharmaceuticals

Inc

(d)

1,605‌

13‌

Kura

Oncology

Inc

(d)

3,891‌

54‌

Lyell

Immunopharma

Inc

(d),(e)

10,409‌

34‌

MannKind

Corp

(d),(e)

13,617‌

74‌

Morphic

Holding

Inc

(d)

243‌

8‌

Nature's

Sunshine

Products

Inc

(d)

878‌

9‌

Owens

&

Minor

Inc

(d)

3,924‌

77‌

PetIQ

Inc

(d)

434‌

5‌

Phibro

Animal

Health

Corp

72,213‌

1,112‌

PMV

Pharmaceuticals

Inc

(d)

2,209‌

18‌

Premier

Inc

58,200‌

1,941‌

Prestige

Consumer

Healthcare

Inc

(d)

2,992‌

197‌

Protagonist

Therapeutics

Inc

(d)

2,764‌

37‌

Reata

Pharmaceuticals

Inc

(d),(e)

297‌

13‌

Relmada

Therapeutics

Inc

(d)

705‌

3‌

Supernus

Pharmaceuticals

Inc

(d)

2,964‌

122‌

Taro

Pharmaceutical

Industries

Ltd

(d)

58,670‌

1,749‌

USANA

Health

Sciences

Inc

(d)

23,200‌

1,356‌

Vanda

Pharmaceuticals

Inc

(d)

207,537‌

1,594‌

Zogenix

Inc

(d),(f)

4,885‌

5‌

$

12,636‌

Pipelines

-

0

.33

%

Equitrans

Midstream

Corp

313,690‌

2,274‌

Excelerate

Energy

Inc

1,106‌

26‌

Golar

LNG

Ltd

(d)

5,738‌

134‌

Kinetik

Holdings

Inc

(e)

47,190‌

1,477‌

NextDecade

Corp

(d)

466‌

3‌

$

3,914‌

Private

Equity

-

0

.00

%

Chicago

Atlantic

Real

Estate

Finance

Inc

415‌

6‌

Real

Estate

-

0

.94

%

American

Realty

Investors

Inc

(d)

142‌

4‌

Angel

Oak

Mortgage

Inc

911‌

7‌

Anywhere

Real

Estate

Inc

(d)

6,433‌

55‌

Cushman

&

Wakefield

PLC

(d)

148,600‌

2,144‌

Douglas

Elliman

Inc

92,828‌

433‌

FRP

Holdings

Inc

(d)

391‌

22‌

Kennedy-Wilson

Holdings

Inc

7,114‌

127‌

Legacy

Housing

Corp

(d)

571‌

11‌

Marcus

&

Millichap

Inc

57,000‌

2,066‌

Newmark

Group

Inc

7,504‌

64‌

Radius

Global

Infrastructure

Inc

(d)

4,582‌

62‌

RE/MAX

Holdings

Inc

102,944‌

2,348‌

RMR

Group

Inc/The

51,072‌

1,585‌

Seritage

Growth

Properties

(d)

173,149‌

2,104‌

Stratus

Properties

Inc

383‌

8‌

Transcontinental

Realty

Investors

Inc

(d)

92‌

4‌

$

11,044‌

REITs

-

4

.40

%

Acadia

Realty

Trust

5,608‌

87‌

AFC

Gamma

Inc

943‌

15‌

Agree

Realty

Corp

5,255‌

392‌

Alexander

&

Baldwin

Inc

4,358‌

87‌

Alexander's

Inc

7,300‌

1,732‌

American

Assets

Trust

Inc

2,968‌

84‌

Apartment

Investment

and

Management

Co

9,025‌

68‌

Apollo

Commercial

Real

Estate

Finance

Inc

47,577‌

579‌

Apple

Hospitality

REIT

Inc

12,969‌

230‌

Arbor

Realty

Trust

Inc

9,951‌

149‌

Ares

Commercial

Real

Estate

Corp

3,084‌

38‌

Armada

Hoffler

Properties

Inc

4,037‌

51‌

ARMOUR

Residential

REIT

Inc

7,881‌

50‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

(continued)

Ashford

Hospitality

Trust

Inc

(d)

2,391‌

$

16‌

Blackstone

Mortgage

Trust

Inc

10,262‌

245‌

Bluerock

Homes

Trust

Inc

(d)

190‌

4‌

Braemar

Hotels

&

Resorts

Inc

258,817‌

1,372‌

Brandywine

Realty

Trust

10,230‌

67‌

BrightSpire

Capital

Inc

78,742‌

600‌

Broadmark

Realty

Capital

Inc

7,834‌

34‌

Broadstone

Net

Lease

Inc

10,395‌

188‌

BRT

Apartments

Corp

714‌

15‌

CareTrust

REIT

Inc

5,360‌

111‌

CBL

&

Associates

Properties

Inc

1,333‌

36‌

Centerspace

889‌

60‌

Chatham

Lodging

Trust

2,880‌

41‌

Chimera

Investment

Corp

14,017‌

102‌

City

Office

REIT

Inc

2,324‌

23‌

Claros

Mortgage

Trust

Inc

5,538‌

93‌

Clipper

Realty

Inc

188‌

1‌

Community

Healthcare

Trust

Inc

576‌

25‌

Corporate

Office

Properties

Trust

5,984‌

168‌

CTO

Realty

Growth

Inc

1,109‌

22‌

DiamondRock

Hospitality

Co

12,643‌

122‌

Diversified

Healthcare

Trust

16,522‌

13‌

Dynex

Capital

Inc

2,722‌

39‌

Easterly

Government

Properties

Inc

5,489‌

89‌

Ellington

Financial

Inc

3,418‌

47‌

Elme

Communities

5,263‌

101‌

Empire

State

Realty

Trust

Inc

293,875‌

2,451‌

Equity

Commonwealth

6,287‌

160‌

Essential

Properties

Realty

Trust

Inc

7,681‌

196‌

Farmland

Partners

Inc

2,983‌

38‌

Four

Corners

Property

Trust

Inc

4,552‌

131‌

Franklin

BSP

Realty

Trust

Inc

4,974‌

72‌

Franklin

Street

Properties

Corp

5,926‌

18‌

Getty

Realty

Corp

2,533‌

92‌

Gladstone

Commercial

Corp

244‌

4‌

Gladstone

Land

Corp

879‌

17‌

Global

Medical

REIT

Inc

3,669‌

41‌

Global

Net

Lease

Inc

6,276‌

94‌

Granite

Point

Mortgage

Trust

Inc

66,724‌

446‌

Great

Ajax

Corp

44,453‌

390‌

Hersha

Hospitality

Trust

1,780‌

16‌

Independence

Realty

Trust

Inc

13,495‌

254‌

Indus

Realty

Trust

Inc

311‌

20‌

Industrial

Logistics

Properties

Trust

3,999‌

18‌

InvenTrust

Properties

Corp

4,077‌

101‌

Invesco

Mortgage

Capital

Inc

2,120‌

31‌

iStar

Inc

4,107‌

38‌

Kite

Realty

Group

Trust

13,134‌

285‌

KKR

Real

Estate

Finance

Trust

Inc

3,433‌

55‌

Ladder

Capital

Corp

6,843‌

77‌

LTC

Properties

Inc

2,399‌

92‌

LXP

Industrial

Trust

16,347‌

189‌

Macerich

Co/The

12,984‌

178‌

MFA

Financial

Inc

372,491‌

4,429‌

National

Health

Investors

Inc

2,494‌

147‌

National

Storage

Affiliates

Trust

218,910‌

8,932‌

Necessity

Retail

REIT

Inc/The

8,051‌

55‌

NETSTREIT

Corp

3,298‌

66‌

New

York

Mortgage

Trust

Inc

338,285‌

1,056‌

Nexpoint

Real

Estate

Finance

Inc

523‌

10‌

NexPoint

Residential

Trust

Inc

103‌

5‌

Office

Properties

Income

Trust

2,879‌

49‌

One

Liberty

Properties

Inc

972‌

23‌

Orchid

Island

Capital

Inc

2,002‌

24‌

Orion

Office

REIT

Inc

3,431‌

33‌

Paramount

Group

Inc

11,229‌

72‌

Park

Hotels

&

Resorts

Inc

160,800‌

2,365‌

Pebblebrook

Hotel

Trust

133,126‌

2,183‌

PennyMac

Mortgage

Investment

Trust

208,346‌

3,178‌

Schedule

of

Investments

SmallCap

Value

Fund

II

January

31,

2023

(unaudited)

See

accompanying

notes.

243

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

REITs

(continued)

Physicians

Realty

Trust

13,697‌

$

217‌

Piedmont

Office

Realty

Trust

Inc

7,406‌

79‌

Plymouth

Industrial

REIT

Inc

2,260‌

51‌

Postal

Realty

Trust

Inc

499‌

8‌

PotlatchDeltic

Corp

4,343‌

213‌

Ready

Capital

Corp

4,288‌

57‌

Redwood

Trust

Inc

6,790‌

57‌

Retail

Opportunity

Investments

Corp

7,265‌

115‌

RLJ

Lodging

Trust

9,665‌

122‌

RPT

Realty

5,084‌

53‌

Ryman

Hospitality

Properties

Inc

3,227‌

300‌

Sabra

Health

Care

REIT

Inc

13,915‌

188‌

Safehold

Inc

605‌

21‌

Saul

Centers

Inc

116‌

5‌

Service

Properties

Trust

9,897‌

88‌

SITE

Centers

Corp

11,740‌

160‌

STAG

Industrial

Inc

281,306‌

10,014‌

Summit

Hotel

Properties

Inc

6,308‌

54‌

Sunstone

Hotel

Investors

Inc

12,785‌

141‌

Terreno

Realty

Corp

4,473‌

288‌

TPG

RE

Finance

Trust

Inc

49,646‌

432‌

Two

Harbors

Investment

Corp

165,384‌

2,967‌

UMH

Properties

Inc

576‌

10‌

Uniti

Group

Inc

14,306‌

94‌

Urban

Edge

Properties

6,891‌

109‌

Urstadt

Biddle

Properties

Inc

1,781‌

33‌

Veris

Residential

Inc

(d)

5,185‌

90‌

Whitestone

REIT

2,810‌

29‌

Xenia

Hotels

&

Resorts

Inc

6,890‌

103‌

$

51,425‌

Retail

-

4

.90

%

Abercrombie

&

Fitch

Co

(d)

2,910‌

84‌

Academy

Sports

&

Outdoors

Inc

4,646‌

271‌

American

Eagle

Outfitters

Inc

9,290‌

150‌

America's

Car-Mart

Inc/TX

(d)

338‌

29‌

Asbury

Automotive

Group

Inc

(d)

8,217‌

1,808‌

Beacon

Roofing

Supply

Inc

(d)

139,959‌

7,961‌

Bed

Bath

&

Beyond

Inc

(d),(e)

1,703‌

5‌

Big

5

Sporting

Goods

Corp

(e)

4,991‌

50‌

Big

Lots

Inc

1,700‌

28‌

Biglari

Holdings

Inc

(d)

55‌

9‌

BJ's

Restaurants

Inc

(d)

1,356‌

43‌

Bloomin'

Brands

Inc

58,836‌

1,427‌

BlueLinx

Holdings

Inc

(d)

21,811‌

1,893‌

Boot

Barn

Holdings

Inc

(d)

18,600‌

1,553‌

Brinker

International

Inc

(d)

36,489‌

1,439‌

Buckle

Inc/The

140‌

6‌

Build-A-Bear

Workshop

Inc

(d)

297‌

7‌

Cato

Corp/The

85,648‌

851‌

Chico's

FAS

Inc

(d)

2,375‌

13‌

Children's

Place

Inc/The

(d)

290‌

13‌

Chuy's

Holdings

Inc

(d)

1,059‌

36‌

Citi

Trends

Inc

(d)

501‌

16‌

Clean

Energy

Fuels

Corp

(d)

10,216‌

58‌

Conn's

Inc

(d)

996‌

9‌

Container

Store

Group

Inc/The

(d)

2,170‌

11‌

Denny's

Corp

(d)

1,122‌

13‌

Designer

Brands

Inc

949‌

10‌

Destination

XL

Group

Inc

(d)

1,815‌

13‌

Dine

Brands

Global

Inc

18,121‌

1,401‌

Duluth

Holdings

Inc

(d)

532‌

4‌

El

Pollo

Loco

Holdings

Inc

51,964‌

637‌

EVgo

Inc

(d),(e)

3,600‌

25‌

Express

Inc

(d)

4,893‌

6‌

First

Watch

Restaurant

Group

Inc

(d)

679‌

11‌

FirstCash

Holdings

Inc

1,120‌

103‌

Foot

Locker

Inc

4,835‌

210‌

Franchise

Group

Inc

124‌

4‌

Genesco

Inc

(d)

18,836‌

910‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Retail

(continued)

Group

1

Automotive

Inc

9,278‌

$

1,984‌

GrowGeneration

Corp

(d)

3,451‌

18‌

Haverty

Furniture

Cos

Inc

56,378‌

1,969‌

Hibbett

Inc

19,156‌

1,272‌

Jack

in

the

Box

Inc

8,589‌

653‌

JOANN

Inc

(e)

841‌

3‌

La-Z-Boy

Inc

54,381‌

1,546‌

LL

Flooring

Holdings

Inc

(d)

203,102‌

1,231‌

MarineMax

Inc

(d)

48,848‌

1,526‌

Movado

Group

Inc

920‌

33‌

National

Vision

Holdings

Inc

(d)

4,432‌

182‌

Nu

Skin

Enterprises

Inc

32,624‌

1,399‌

ODP

Corp/The

(d)

2,390‌

123‌

OneWater

Marine

Inc

(d)

52,111‌

1,706‌

Papa

John's

International

Inc

541‌

49‌

Patrick

Industries

Inc

1,149‌

82‌

PC

Connection

Inc

10,630‌

522‌

PetMed

Express

Inc

270‌

6‌

PriceSmart

Inc

535‌

40‌

Qurate

Retail

Inc

(d)

20,916‌

54‌

RH

(d)

16,460‌

5,135‌

Rite

Aid

Corp

(d)

1,927‌

7‌

Rush

Enterprises

Inc

-

Class

A

124,079‌

6,677‌

Rush

Enterprises

Inc

-

Class

B

383‌

22‌

Ruth's

Hospitality

Group

Inc

77,700‌

1,345‌

Sally

Beauty

Holdings

Inc

(d)

503‌

8‌

Shoe

Carnival

Inc

1,030‌

28‌

Signet

Jewelers

Ltd

27,050‌

2,077‌

Sonic

Automotive

Inc

42,363‌

2,275‌

Sportsman's

Warehouse

Holdings

Inc

(d)

2,298‌

22‌

Tile

Shop

Holdings

Inc

(d)

2,136‌

11‌

Tilly's

Inc

(d)

1,448‌

13‌

TravelCenters

of

America

Inc

(d)

27,248‌

1,240‌

Vera

Bradley

Inc

(d)

154,000‌

916‌

Volta

Inc

(d)

9,280‌

8‌

Winmark

Corp

166‌

47‌

World

Fuel

Services

Corp

50,672‌

1,434‌

Zumiez

Inc

(d)

20,031‌

517‌

$

57,297‌

Savings

&

Loans

-

1

.58

%

Axos

Financial

Inc

(d)

3,097‌

149‌

Banc

of

California

Inc

3,168‌

55‌

Berkshire

Hills

Bancorp

Inc

2,594‌

81‌

Brookline

Bancorp

Inc

78,049‌

1,021‌

Capitol

Federal

Financial

Inc

125,432‌

1,050‌

Flushing

Financial

Corp

89,409‌

1,716‌

FS

Bancorp

Inc

16,200‌

582‌

Hingham

Institution

For

Savings

The

77‌

23‌

Home

Bancorp

Inc

16,229‌

623‌

HomeTrust

Bancshares

Inc

691‌

19‌

New

York

Community

Bancorp

Inc

221,600‌

2,214‌

Northfield

Bancorp

Inc

66,305‌

991‌

Northwest

Bancshares

Inc

7,319‌

103‌

OceanFirst

Financial

Corp

88,791‌

2,123‌

Pacific

Premier

Bancorp

Inc

34,944‌

1,131‌

Provident

Financial

Services

Inc

95,999‌

2,252‌

Southern

Missouri

Bancorp

Inc

9,662‌

467‌

Territorial

Bancorp

Inc

24,468‌

588‌

Washington

Federal

Inc

61,731‌

2,189‌

Waterstone

Financial

Inc

60,950‌

982‌

WSFS

Financial

Corp

3,669‌

177‌

$

18,536‌

Semiconductors

-

3

.32

%

ACM

Research

Inc

(d)

213,293‌

2,664‌

Alpha

&

Omega

Semiconductor

Ltd

(d)

318‌

10‌

Amkor

Technology

Inc

4,869‌

142‌

AXT

Inc

(d)

2,820‌

17‌

Cirrus

Logic

Inc

(d)

18,900‌

1,708‌

Cohu

Inc

(d)

2,812‌

101‌

Schedule

of

Investments

SmallCap

Value

Fund

II

January

31,

2023

(unaudited)

See

accompanying

notes.

244

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Semiconductors

(continued)

Diodes

Inc

(d)

15,719‌

$

1,402‌

Impinj

Inc

(d)

121‌

16‌

IPG

Photonics

Corp

(d)

21,100‌

2,365‌

MaxLinear

Inc

(d)

35,100‌

1,446‌

MKS

Instruments

Inc

85,400‌

8,738‌

Ouster

Inc

(d)

9,276‌

13‌

Photronics

Inc

(d)

94,375‌

1,710‌

Rambus

Inc

(d)

258,401‌

10,458‌

Semtech

Corp

(d)

69,800‌

2,306‌

Ultra

Clean

Holdings

Inc

(d)

171,276‌

5,764‌

Veeco

Instruments

Inc

(d)

679‌

14‌

$

38,874‌

Software

-

0

.63

%

1Life

Healthcare

Inc

(d)

10,868‌

174‌

ACI

Worldwide

Inc

(d)

75,300‌

2,103‌

ACV

Auctions

Inc

(d)

3,544‌

35‌

Adeia

Inc

6,276‌

69‌

American

Software

Inc/GA

553‌

8‌

Avaya

Holdings

Corp

(d),(e)

6,512‌

2‌

Avid

Technology

Inc

(d)

754‌

23‌

AvidXchange

Holdings

Inc

(d)

1,037‌

11‌

Bandwidth

Inc

(d)

1,120‌

28‌

Blackbaud

Inc

(d)

158‌

10‌

Blend

Labs

Inc

(d)

10,840‌

18‌

Brightcove

Inc

(d)

998‌

6‌

C3.ai

Inc

(d)

2,843‌

56‌

Cardlytics

Inc

(d)

2,095‌

16‌

Cerence

Inc

(d)

2,359‌

58‌

Computer

Programs

and

Systems

Inc

(d)

848‌

25‌

Consensus

Cloud

Solutions

Inc

(d)

571‌

34‌

CoreCard

Corp

(d)

19,000‌

636‌

Cvent

Holding

Corp

(d)

2,719‌

22‌

Daily

Journal

Corp

(d)

68‌

21‌

Digi

International

Inc

(d)

1,348‌

46‌

Digimarc

Corp

(d)

76‌

1‌

Donnelley

Financial

Solutions

Inc

(d)

1,405‌

64‌

E2open

Parent

Holdings

Inc

(d)

12,008‌

83‌

Ebix

Inc

63,741‌

1,215‌

eGain

Corp

(d)

792‌

8‌

EverCommerce

Inc

(d),(e)

1,380‌

14‌

Faraday

Future

Intelligent

Electric

Inc

(d),(e)

7,357‌

6‌

Fastly

Inc

(d)

6,807‌

70‌

ForgeRock

Inc

(d)

618‌

12‌

Health

Catalyst

Inc

(d)

3,296‌

46‌

Hims

&

Hers

Health

Inc

(d)

1,225‌

10‌

Inspired

Entertainment

Inc

(d)

516‌

8‌

Instructure

Holdings

Inc

(d)

885‌

24‌

IonQ

Inc

(d),(e)

6,208‌

28‌

Kaleyra

Inc

(d)

2,724‌

3‌

Latch

Inc

(d)

8,278‌

8‌

LiveVox

Holdings

Inc

(d)

1,667‌

5‌

Loyalty

Ventures

Inc

(d)

1,434‌

3‌

Matterport

Inc

(d)

4,244‌

15‌

MicroStrategy

Inc

(d),(e)

221‌

56‌

N-able

Inc

(d)

661‌

7‌

NextGen

Healthcare

Inc

(d)

1,754‌

33‌

Olo

Inc

(d)

5,414‌

43‌

ON24

Inc

(d)

2,497‌

23‌

Outbrain

Inc

(d)

69,738‌

343‌

Pear

Therapeutics

Inc

(d)

3,002‌

3‌

Phreesia

Inc

(d)

1,540‌

58‌

Playstudios

Inc

(d)

2,618‌

12‌

Porch

Group

Inc

(d)

5,293‌

16‌

PowerSchool

Holdings

Inc

(d)

1,784‌

40‌

PROS

Holdings

Inc

(d)

863‌

22‌

PubMatic

Inc

(d)

308‌

5‌

Rackspace

Technology

Inc

(d)

4,000‌

12‌

Sapiens

International

Corp

NV

609‌

14‌

Sharecare

Inc

(d)

17,638‌

45‌

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Software

(continued)

Skillsoft

Corp

(d)

5,290‌

$

10‌

Skillz

Inc

(d)

20,109‌

16‌

SolarWinds

Corp

(d)

2,900‌

29‌

Sumo

Logic

Inc

(d)

2,390‌

28‌

Upland

Software

Inc

(d)

1,745‌

15‌

Veradigm

Inc

(d)

6,465‌

116‌

Verint

Systems

Inc

(d)

367‌

14‌

Verra

Mobility

Corp

(d)

86,600‌

1,336‌

WM

Technology

Inc

(d)

590‌

1‌

$

7,321‌

Supranational

Bank

-

0

.00

%

Banco

Latinoamericano

de

Comercio

Exterior

SA

1,648‌

28‌

Telecommunications

-

0

.31

%

A10

Networks

Inc

806‌

13‌

ADTRAN

Holdings

Inc

491‌

9‌

Anterix

Inc

(d)

782‌

28‌

ATN

International

Inc

647‌

32‌

Aviat

Networks

Inc

(d)

655‌

21‌

Calix

Inc

(d)

719‌

38‌

Consolidated

Communications

Holdings

Inc

(d)

4,037‌

18‌

DigitalBridge

Group

Inc

1,079‌

16‌

EchoStar

Corp

(d)

2,017‌

38‌

Globalstar

Inc

(d)

7,590‌

11‌

Gogo

Inc

(d)

2,771‌

46‌

IDT

Corp

-

Class

B

(d)

280‌

8‌

Inseego

Corp

(d)

5,216‌

6‌

InterDigital

Inc

31,413‌

2,198‌

KORE

Group

Holdings

Inc

(d)

3,358‌

8‌

Maxar

Technologies

Inc

4,426‌

229‌

NETGEAR

Inc

(d)

1,695‌

34‌

Planet

Labs

PBC

(d)

1,507‌

7‌

Preformed

Line

Products

Co

8,193‌

723‌

Ribbon

Communications

Inc

(d)

4,750‌

17‌

Shenandoah

Telecommunications

Co

2,909‌

57‌

Telephone

and

Data

Systems

Inc

6,071‌

81‌

Terran

Orbital

Corp

(d)

3,269‌

6‌

United

States

Cellular

Corp

(d)

889‌

22‌

$

3,666‌

Textiles

-

0

.02

%

UniFirst

Corp/MA

898‌

178‌

Toys,

Games

&

Hobbies

-

0

.21

%

Funko

Inc

(d)

110,000‌

1,331‌

JAKKS

Pacific

Inc

(d)

51,845‌

1,081‌

Vinco

Ventures

Inc

(d)

7,289‌

5‌

$

2,417‌

Transportation

-

3

.12

%

Air

Transport

Services

Group

Inc

(d)

2,144‌

61‌

ArcBest

Corp

984‌

82‌

Ardmore

Shipping

Corp

(d)

2,440‌

36‌

Atlas

Air

Worldwide

Holdings

Inc

(d)

15,280‌

1,562‌

Costamare

Inc

3,176‌

32‌

Covenant

Logistics

Group

Inc

543‌

18‌

CryoPort

Inc

(d)

559‌

13‌

DHT

Holdings

Inc

8,250‌

71‌

Dorian

LPG

Ltd

1,840‌

36‌

Eagle

Bulk

Shipping

Inc

796‌

46‌

FLEX

LNG

Ltd

(e)

1,707‌

53‌

Forward

Air

Corp

15,100‌

1,629‌

Frontline

PLC

(e)

7,511‌

104‌

Genco

Shipping

&

Trading

Ltd

2,200‌

40‌

Golden

Ocean

Group

Ltd

(e)

7,394‌

71‌

Heartland

Express

Inc

86,006‌

1,446‌

Hub

Group

Inc

(d)

1,927‌

164‌

International

Seaways

Inc

2,911‌

113‌

Kirby

Corp

(d)

124,045‌

8,780‌

Landstar

System

Inc

58,295‌

10,075‌

Marten

Transport

Ltd

885‌

20‌

Matson

Inc

21,956‌

1,451‌

Nordic

American

Tankers

Ltd

12,260‌

37‌

Schedule

of

Investments

SmallCap

Value

Fund

II

January

31,

2023

(unaudited)

See

accompanying

notes.

245

COMMON

STOCKS

(continued)

Shares

Held

Value

(000’s)

Transportation

(continued)

PAM

Transportation

Services

Inc

(d)

14,300‌

$

414‌

Radiant

Logistics

Inc

(d)

1,869‌

10‌

Safe

Bulkers

Inc

4,449‌

15‌

Saia

Inc

(d)

35,445‌

9,669‌

Scorpio

Tankers

Inc

2,812‌

135‌

SFL

Corp

Ltd

6,918‌

70‌

Teekay

Corp

(d)

4,197‌

20‌

Teekay

Tankers

Ltd

(d)

1,368‌

42‌

Universal

Logistics

Holdings

Inc

136‌

5‌

Werner

Enterprises

Inc

3,344‌

157‌

$

36,477‌

Trucking

&

Leasing

-

1

.54

%

GATX

Corp

136,813‌

15,658‌

Greenbrier

Cos

Inc/The

76,138‌

2,354‌

$

18,012‌

Water

-

0

.03

%

American

States

Water

Co

1,156‌

109‌

Artesian

Resources

Corp

178‌

11‌

California

Water

Service

Group

2,410‌

147‌

SJW

Group

1,619‌

125‌

$

392‌

TOTAL

COMMON

STOCKS

$

1,115,613‌

Total

Investments

$

1,179,699‌

Other

Assets

and

Liabilities

-  (0.84)%

(

9,786‌

)

TOTAL

NET

ASSETS

-

100.00%

$

1,169,913‌

(a)

Current

yield

shown

is

as

of

period

end.

(b)

Security

or

a

portion

of

the

security

was

received

as

collateral

for

securities

lending.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$11,556

or

0.99%

of

net

assets.

(c)

Affiliated

Security.

Security

is

either

an

affiliate

(and

registered

under

the

Investment

Company

Act

of

1940,

as

amended,

(the

"1940

Act"))

or

an

affiliate

as

defined

by

the

1940

Act

(controls

5.00%

or

more

of

the

outstanding

voting

shares

of

the

security).

Please

see

Affiliated

Securities

sub-schedule

for

transactional

information.

(d)

Non-income

producing

security

(e)

Security

or

a

portion

of

the

security

was

on

loan.  At

the

end

of

the

period,

the

value

of

these

securities

totaled

$7,743

or

0.66%

of

net

assets.

(f)

The

value

of

these

investments

was

determined

using

significant

unobservable

inputs,

in

good

faith

by

the

Manager,

under

procedures

established

and

periodically

reviewed

by

the

Board

of

Directors.

Portfolio

Summary  (unaudited)

Sector

Percent

Financial

27

.62‌

%

Industrial

18

.16‌

%

Consumer,

Cyclical

15

.79‌

%

Consumer,

Non-cyclical

9

.69‌

%

Technology

8

.06‌

%

Energy

6

.53‌

%

Money

Market

Funds

5

.33‌

%

Basic

Materials

4

.50‌

%

Utilities

4

.06‌

%

Communications

0

.95‌

%

Investment

Companies

0

.15‌

%

Government

0

.00‌

%

Other

Assets

and

Liabilities

(

0

.84‌

)

%

TOTAL

NET

ASSETS

100.00%

Affiliated

Securities

October

31,

2022

Purchases

Sales

January

31,

2023

Value

Cost

Proceeds

Value

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

—‌

$

143,011‌

$

83,396‌

$

59,615‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

60,700‌

106,097‌

166,797‌

—‌

$

60,700‌

$

249,108‌

$

250,193‌

$

59,615‌

Income

(a)

Realized

Gain/(Loss)

on

Investments

Realized

Gain

from

Capital

Gain

Distributions

Change

in

Unrealized

Gain/

(Loss)

Principal

Government

Money

Market

Fund

-

Class

R-6

4.25%

$

256‌

$

—‌

$

—‌

$

—‌

Principal

Government

Money

Market

Fund

-

Institutional

Class

4.19%

175‌

—‌

—‌

—‌

$

431‌

$

—‌

$

—‌

$

—‌

Amounts

in

thousands.

(a)

Amount

excludes

earnings

from

securities

lending

collateral.

Futures

Contracts

Description

and

Expiration

Date

Type

Contracts

Notional

Amount

Value

and

Unrealized

Appreciation/(Depreciation)

Russell

2000

Emini;

March

2023

Long

63‌

$

6,109‌

$

116‌

Total

$

116‌

Amounts

in

thousands

except

contracts.

Schedule

of

Investments

Tax-Exempt

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

246

INVESTMENT

COMPANIES

-

0

.08

%

Shares

Held

Value

(000's)

Exchange-Traded

Funds

-

0

.08

%

iShares

National

Muni

Bond

ETF

528‌

$

57‌

iShares

Short-Term

National

Muni

Bond

ETF

374‌

39‌

JPMorgan

Ultra-Short

Municipal

Income

ETF

99‌

5‌

SPDR

Nuveen

Bloomberg

High

Yield

Municipal

Bond

ETF

9,994‌

256‌

VanEck

High

Yield

Muni

ETF

2,363‌

124‌

$

481‌

TOTAL

INVESTMENT

COMPANIES

$

481‌

MUNICIPAL

BONDS

-

100

.93

%

Principal

Amount

(000's)

Value

(000's)

Alabama

-

2

.06

%

Lower

Alabama

Gas

District/The

5.00%,

09/01/2034

$

5,500‌

$

6,030‌

Phenix

City

Industrial

Development

Board

4.13%,

05/15/2035

3,000‌

3,000‌

Tuscaloosa

County

Industrial

Development

Authority

4.50%,

05/01/2032

(a)

2,410‌

2,199‌

5.25%,

05/01/2044

(a)

997‌

888‌

$

12,117‌

Arizona

-

1

.46

%

Arizona

Industrial

Development

Authority

5.00%,

01/01/2043

575‌

375‌

Chandler

Industrial

Development

Authority

2.70%,

12/01/2037

(b)

1,300‌

1,296‌

Navajo

Nation

5.50%,

12/01/2030

(a)

1,240‌

1,298‌

Salt

Verde

Financial

Corp

5.00%,

12/01/2032

5,165‌

5,634‌

$

8,603‌

Arkansas

-

0

.17

%

Arkansas

Development

Finance

Authority

5.45%,

09/01/2052

(a)

1,000‌

997‌

California

-

9

.56

%

Alum

Rock

Union

Elementary

School

District

5.25%,

08/01/2043

1,000‌

1,013‌

California

Community

Choice

Financing

Authority

5.00%,

12/01/2053

(b)

5,000‌

5,338‌

California

Health

Facilities

Financing

Authority

5.00%,

11/15/2046

(c)

1,695‌

1,827‌

California

Housing

Finance

Agency

(credit

support

from

Federal

Home

Loan

Mortgage

Corporation

Collateral

)

3.75%,

03/25/2035

(d)

7,108‌

7,107‌

California

Municipal

Finance

Authority

4.00%,

07/15/2029

3,050‌

3,021‌

5.00%,

05/15/2033

1,000‌

1,059‌

5.00%,

05/15/2034

600‌

633‌

California

Municipal

Finance

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

-

Transfer

Custodial

Receipt

)

5.00%,

05/15/2031

(d)

2,240‌

2,479‌

California

Pollution

Control

Financing

Authority

4.30%,

07/01/2040

2,000‌

2,023‌

California

Statewide

Communities

Development

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

05/15/2031

(d)

2,000‌

2,326‌

City

of

Los

Angeles

Department

of

Airports

4.00%,

05/15/2037

1,000‌

1,035‌

5.00%,

05/15/2029

1,250‌

1,403‌

5.00%,

05/15/2035

(c)

186‌

216‌

5.00%,

05/15/2037

(c)

3,824‌

4,211‌

5.00%,

05/15/2044

(c)

5,150‌

5,367‌

Oakland

Unified

School

District/Alameda

County

5.00%,

08/01/2034

2,210‌

2,363‌

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

California

(continued)

Riverside

Community

Properties

Development

Inc

6.00%,

10/15/2038

$

1,150‌

$

1,179‌

Sacramento

Area

Flood

Control

Agency

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

10/01/2039

(d)

1,340‌

1,376‌

San

Diego

County

Regional

Airport

Authority

5.00%,

07/01/2033

500‌

559‌

5.00%,

07/01/2034

415‌

461‌

5.00%,

07/01/2035

300‌

329‌

5.00%,

07/01/2037

450‌

488‌

5.00%,

07/01/2038

500‌

541‌

5.00%,

07/01/2040

65‌

70‌

San

Diego

Unified

School

District/CA

0.00%,

07/01/2032

(e)

5,000‌

3,833‌

Southern

California

Public

Power

Authority

5.00%,

11/01/2028

2,385‌

2,593‌

State

of

California

5.00%,

08/01/2028

2,000‌

2,307‌

West

Contra

Costa

Unified

School

District

5.25%,

08/01/2033

1,000‌

1,014‌

$

56,171‌

Colorado

-

2

.30

%

Colorado

Health

Facilities

Authority

4.00%,

11/15/2043

6,280‌

6,146‌

Denver

Convention

Center

Hotel

Authority

5.00%,

12/01/2036

1,000‌

1,016‌

Elbert

County

Independence

Water

&

Sanitation

District

7.25%,

12/01/2038

1,000‌

1,018‌

Painted

Prairie

Public

Improvement

Authority

5.00%,

12/01/2049

1,000‌

921‌

STC

Metropolitan

District

No

2

4.00%,

12/01/2029

1,000‌

945‌

Transport

Metropolitan

District

No

3

5.00%,

12/01/2051

1,500‌

1,227‌

Velocity

Metropolitan

District

No

3

5.13%,

12/01/2034

2,235‌

2,241‌

$

13,514‌

Connecticut

-

1

.04

%

Mohegan

Tribal

Finance

Authority

7.00%,

02/01/2045

(a)

4,000‌

4,007‌

State

of

Connecticut

Special

Tax

Revenue

5.00%,

05/01/2030

1,755‌

2,081‌

$

6,088‌

District

of

Columbia

-

3

.07

%

District

of

Columbia

5.00%,

03/01/2029

2,000‌

2,322‌

5.00%,

02/01/2031

2,650‌

3,163‌

Metropolitan

Washington

Airports

Authority

Aviation

Revenue

5.00%,

10/01/2033

10,135‌

11,534‌

Metropolitan

Washington

Airports

Authority

Dulles

Toll

Road

Revenue

5.00%,

10/01/2047

1,000‌

1,053‌

$

18,072‌

Florida

-

5

.04

%

City

of

Lakeland

FL

Department

of

Electric

Utilities

5.25%,

10/01/2036

1,000‌

1,200‌

Collier

County

Health

Facilities

Authority

5.00%,

05/01/2043

3,500‌

3,638‌

Florida

Development

Finance

Corp

3.00%,

06/01/2032

5,000‌

3,849‌

5.00%,

05/01/2029

(a)

2,000‌

1,885‌

7.38%,

01/01/2049

(a)

4,000‌

3,608‌

Schedule

of

Investments

Tax-Exempt

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

247

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Florida

(continued)

Greater

Orlando

Aviation

Authority

5.00%,

10/01/2047

(c)

$

7,000‌

$

7,221‌

Hillsborough

County

Aviation

Authority

5.00%,

10/01/2047

2,000‌

2,123‌

Orange

County

School

Board

5.00%,

08/01/2032

5,000‌

6,110‌

$

29,634‌

Georgia

-

3

.59

%

Development

Authority

of

Appling

County

1.50%,

01/01/2038

(b)

2,500‌

2,385‌

George

L

Smith

II

Congress

Center

Authority

5.00%,

01/01/2036

(a)

3,310‌

3,089‌

5.00%,

01/01/2054

(a)

1,000‌

822‌

Georgia

Ports

Authority

5.00%,

07/01/2036

2,850‌

3,333‌

5.25%,

07/01/2039

3,585‌

4,246‌

Main

Street

Natural

Gas

Inc

4.00%,

08/01/2052

(a),(b)

7,500‌

7,228‌

$

21,103‌

Illinois

-

12

.28

%

Chicago

O'Hare

International

Airport

5.25%,

01/01/2036

2,000‌

2,159‌

Chicago

Transit

Authority

Capital

Grant

Receipts

Revenue

5.00%,

06/01/2029

3,250‌

3,645‌

City

of

Chicago

IL

5.25%,

01/01/2029

2,000‌

2,050‌

5.50%,

01/01/2049

1,000‌

1,039‌

6.00%,

01/01/2038

2,965‌

3,159‌

7.46%,

02/15/2026

510‌

475‌

City

of

Chicago

IL

Wastewater

Transmission

Revenue

5.00%,

01/01/2030

1,000‌

1,029‌

5.00%,

01/01/2032

1,000‌

1,023‌

5.00%,

01/01/2033

2,625‌

2,689‌

City

of

Chicago

IL

Waterworks

Revenue

5.00%,

11/01/2028

1,000‌

1,031‌

County

of

Cook

IL

Sales

Tax

Revenue

5.25%,

11/15/2036

1,520‌

1,639‌

Illinois

Sports

Facilities

Authority/The

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

06/15/2029

(d)

2,700‌

2,930‌

Illinois

State

Toll

Highway

Authority

5.00%,

12/01/2032

5,200‌

5,553‌

5.00%,

01/01/2040

(c)

2,000‌

2,098‌

Metropolitan

Pier

&

Exposition

Authority

(credit

support

from

Build

America

Mutual

Assurance

Corp

-

Transfer

Custodial

Receipt

)

4.00%,

12/15/2042

(d)

5,000‌

4,771‌

Metropolitan

Pier

&

Exposition

Authority

(credit

support

from

National

Public

Finance

Guarantee

Corp

)

5.50%,

06/15/2029

(d)

2,410‌

2,624‌

Metropolitan

Water

Reclamation

District

of

Greater

Chicago

5.00%,

12/01/2028

5,000‌

5,473‌

5.00%,

12/01/2038

1,500‌

1,700‌

5.25%,

12/01/2032

1,500‌

1,878‌

Sales

Tax

Securitization

Corp

5.00%,

01/01/2036

1,000‌

1,090‌

5.00%,

01/01/2040

3,000‌

3,173‌

5.25%,

01/01/2048

1,250‌

1,322‌

Sales

Tax

Securitization

Corp

(credit

support

from

Build

America

Mutual

Assurance

Corp

)

5.00%,

01/01/2037

(d)

2,000‌

2,186‌

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Illinois

(continued)

State

of

Illinois

5.00%,

11/01/2027

$

2,415‌

$

2,603‌

5.00%,

11/01/2028

4,590‌

4,923‌

5.00%,

12/01/2032

1,380‌

1,461‌

5.50%,

01/01/2030

500‌

563‌

5.50%,

10/01/2044

6,855‌

7,433‌

United

City

of

Yorkville

IL

5.75%,

03/01/2028

300‌

300‌

Village

of

Gilberts

IL

Special

Service

Area

No

24

5.38%,

03/01/2034

149‌

135‌

$

72,154‌

Indiana

-

0

.67

%

City

of

Whiting

IN

3.00%,

11/01/2051

455‌

332‌

Indiana

Finance

Authority

4.13%,

12/01/2026

1,670‌

1,644‌

Town

of

Shoals

IN

7.25%,

11/01/2043

1,910‌

1,942‌

$

3,918‌

Kentucky

-

2

.20

%

County

of

Trimble

KY

1.30%,

09/01/2044

(b)

1,000‌

869‌

Kentucky

Municipal

Power

Agency

5.00%,

09/01/2035

1,080‌

1,181‌

Kentucky

Public

Energy

Authority

4.00%,

01/01/2049

(b)

3,000‌

3,000‌

Kentucky

Turnpike

Authority

5.00%,

07/01/2031

6,550‌

7,861‌

$

12,911‌

Louisiana

-

3

.68

%

Louisiana

Local

Government

Environmental

Facilities

&

Community

Development

Authority

3.50%,

11/01/2032

6,555‌

6,251‌

4.40%,

11/01/2044

(a)

1,805‌

1,717‌

5.50%,

11/01/2039

(a)

2,390‌

2,510‌

Louisiana

Offshore

Terminal

Authority

1.65%,

09/01/2027

(b)

3,320‌

3,283‌

Louisiana

Public

Facilities

Authority

0.00%,

07/01/2039

(e)

417‌

—‌

0.00%,

07/01/2039

(e)

659‌

—‌

Parish

of

St

James

LA

5.85%,

08/01/2041

(a),(b)

1,000‌

1,031‌

6.10%,

12/01/2040

(a),(b)

1,000‌

1,084‌

Parish

of

St

John

the

Baptist

LA

2.00%,

06/01/2037

(b)

5,750‌

5,740‌

$

21,616‌

Maine

-

0

.30

%

Finance

Authority

of

Maine

4.38%,

08/01/2035

(a),(b)

1,800‌

1,782‌

Maryland

-

0

.70

%

State

of

Maryland

5.00%,

08/01/2030

3,450‌

4,138‌

Massachusetts

-

1

.52

%

Massachusetts

Bay

Transportation

Authority

Assessment

Revenue

5.25%,

07/01/2028

2,000‌

2,322‌

Massachusetts

Development

Finance

Agency

5.00%,

11/15/2032

3,000‌

3,767‌

Massachusetts

Educational

Financing

Authority

4.90%,

07/01/2028

665‌

665‌

Massachusetts

Port

Authority

5.00%,

07/01/2029

1,000‌

1,113‌

5.00%,

07/01/2035

1,000‌

1,087‌

$

8,954‌

Michigan

-

2

.51

%

City

of

Detroit

MI

5.50%,

04/01/2050

1,000‌

1,029‌

Schedule

of

Investments

Tax-Exempt

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

248

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Michigan

(continued)

Detroit

City

School

District

(credit

support

from

Qualified

School

Bond

Loan

Fund

)

5.00%,

05/01/2036

(d)

$

1,000‌

$

1,112‌

5.00%,

05/01/2037

(d)

1,000‌

1,104‌

5.00%,

05/01/2038

(d)

2,000‌

2,199‌

Kentwood

Economic

Development

Corp

5.00%,

11/15/2041

1,000‌

1,000‌

Michigan

Finance

Authority

4.00%,

02/15/2044

3,400‌

3,329‌

Michigan

Strategic

Fund

4.00%,

10/01/2061

(b)

3,960‌

3,919‌

Wayne

County

Airport

Authority

5.00%,

12/01/2045

1,000‌

1,036‌

$

14,728‌

Mississippi

-

0

.17

%

Mississippi

Business

Finance

Corp

2.20%,

03/01/2027

(b)

1,000‌

976‌

Missouri

-

0

.96

%

City

of

St

Louis

MO

Airport

Revenue

5.00%,

07/01/2034

1,285‌

1,449‌

5.00%,

07/01/2044

1,100‌

1,179‌

City

of

St

Louis

MO

Airport

Revenue

(credit

support

from

National

Public

Finance

Guarantee

Corp

)

5.50%,

07/01/2028

(d)

1,500‌

1,739‌

Health

&

Educational

Facilities

Authority

of

the

State

of

Missouri

5.00%,

02/01/2034

1,250‌

1,258‌

$

5,625‌

Montana

-

1

.16

%

County

of

Gallatin

MT

4.00%,

10/15/2046

(a)

5,000‌

4,025‌

Montana

Board

of

Housing

(credit

support

from

Federal

Housing

Administration,

Guaranteed

by

the

Department

of

Veterans

Affairs

and

HUD

)

4.00%,

06/01/2045

(d)

835‌

820‌

Montana

Facility

Finance

Authority

4.13%,

07/01/2038

2,000‌

1,964‌

$

6,809‌

Nebraska

-

0

.18

%

Lincoln

Airport

Authority

4.00%,

07/01/2035

1,000‌

1,034‌

Nevada

-

2

.22

%

Las

Vegas

Convention

&

Visitors

Authority

5.00%,

07/01/2043

(c)

8,600‌

9,060‌

Las

Vegas

Redevelopment

Agency

5.00%,

06/15/2040

3,850‌

3,972‌

$

13,032‌

New

Hampshire

-

1

.64

%

New

Hampshire

Business

Finance

Authority

2.15%,

07/01/2027

(b)

6,750‌

6,575‌

3.75%,

07/01/2045

(a),(b)

1,000‌

806‌

4.00%,

11/01/2027

(a)

1,000‌

960‌

4.13%,

01/20/2034

390‌

394‌

4.88%,

11/01/2042

(a)

1,000‌

925‌

$

9,660‌

New

Jersey

-

5

.49

%

Casino

Reinvestment

Development

Authority

Inc

5.25%,

11/01/2039

750‌

767‌

New

Jersey

Economic

Development

Authority

4.00%,

07/01/2032

805‌

824‌

5.75%,

04/01/2031

1,005‌

1,016‌

New

Jersey

Transportation

Trust

Fund

Authority

5.25%,

06/15/2032

2,000‌

2,085‌

5.25%,

06/15/2034

2,250‌

2,351‌

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

New

Jersey

(continued)

North

Hudson

Sewerage

Authority/NJ

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

06/01/2034

(d)

$

180‌

$

224‌

South

Jersey

Port

Corp

5.00%,

01/01/2042

5,000‌

5,121‌

State

of

New

Jersey

4.00%,

06/01/2031

5,000‌

5,528‌

5.00%,

06/01/2027

2,100‌

2,337‌

Tobacco

Settlement

Financing

Corp

4.00%,

06/01/2037

4,700‌

4,702‌

5.25%,

06/01/2046

7,000‌

7,313‌

$

32,268‌

New

Mexico

-

0

.08

%

City

of

Farmington

NM

2.15%,

04/01/2033

600‌

503‌

New

York

-

8

.07

%

Metropolitan

Transportation

Authority

4.00%,

11/15/2045

1,000‌

912‌

5.00%,

11/15/2025

400‌

420‌

5.00%,

11/15/2032

1,000‌

1,094‌

New

York

City

Industrial

Development

Agency

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

01/01/2031

(d)

1,000‌

1,161‌

New

York

City

Transitional

Finance

Authority

Future

Tax

Secured

Revenue

5.25%,

08/01/2037

3,000‌

3,336‌

5.25%,

11/01/2037

3,000‌

3,558‌

New

York

Counties

Tobacco

Trust

VI

5.00%,

06/01/2036

740‌

759‌

New

York

State

Dormitory

Authority

4.00%,

09/01/2045

1,500‌

1,326‌

New

York

State

Dormitory

Authority

(credit

support

from

Assured

Guaranty

Municipal

Corp

-

State

Aid

Withholding

)

5.00%,

10/01/2023

(d)

140‌

140‌

New

York

Transportation

Development

Corp

4.00%,

10/01/2030

1,000‌

1,002‌

4.00%,

12/01/2042

1,000‌

922‌

4.00%,

04/30/2053

1,000‌

855‌

5.00%,

12/01/2027

1,000‌

1,086‌

5.00%,

12/01/2028

2,350‌

2,583‌

5.00%,

01/01/2032

7,200‌

7,516‌

5.00%,

01/01/2034

3,200‌

3,327‌

5.00%,

10/01/2035

2,000‌

2,087‌

5.00%,

12/01/2035

2,850‌

3,079‌

5.00%,

10/01/2040

2,000‌

2,043‌

5.00%,

12/01/2041

1,000‌

1,033‌

5.00%,

07/01/2046

3,500‌

3,502‌

Port

Authority

of

New

York

&

New

Jersey

5.00%,

07/15/2035

3,000‌

3,326‌

Tompkins

County

Development

Corp

0.00%,

07/01/2027

(e)

115‌

57‌

Westchester

County

Local

Development

Corp

5.00%,

11/01/2046

2,400‌

2,326‌

$

47,450‌

North

Carolina

-

0

.78

%

North

Carolina

Medical

Care

Commission

5.00%,

10/01/2047

1,000‌

1,046‌

Raleigh

Durham

Airport

Authority

5.00%,

05/01/2033

2,000‌

2,239‌

5.00%,

05/01/2034

1,150‌

1,282‌

$

4,567‌

Ohio

-

2

.37

%

Buckeye

Tobacco

Settlement

Financing

Authority

4.00%,

06/01/2037

1,125‌

1,129‌

4.00%,

06/01/2039

1,850‌

1,791‌

5.00%,

06/01/2055

4,050‌

3,862‌

Schedule

of

Investments

Tax-Exempt

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

249

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Ohio

(continued)

County

of

Hamilton

OH

5.00%,

01/01/2036

$

1,435‌

$

1,436‌

5.00%,

01/01/2046

2,500‌

2,338‌

Ohio

Air

Quality

Development

Authority

4.25%,

01/15/2038

(a)

1,000‌

970‌

4.50%,

01/15/2048

(a)

850‌

802‌

Port

of

Greater

Cincinnati

Development

Authority

4.25%,

12/01/2050

(a)

2,000‌

1,577‌

$

13,905‌

Oregon

-

0

.16

%

Oregon

State

Business

Development

Commission

0.00%,

04/01/2031

(a),(e)

1,000‌

73‌

State

of

Oregon

Housing

&

Community

Services

Department

3.55%,

07/01/2033

860‌

847‌

$

920‌

Pennsylvania

-

6

.14

%

Allegheny

County

Airport

Authority

5.00%,

01/01/2056

460‌

480‌

Allegheny

County

Industrial

Development

Authority

5.13%,

05/01/2030

1,630‌

1,680‌

City

of

Philadelphia

PA

5.00%,

02/01/2037

2,000‌

2,178‌

Lancaster

Industrial

Development

Authority

4.00%,

07/01/2046

750‌

605‌

4.00%,

07/01/2051

1,000‌

782‌

Pennsylvania

Economic

Development

Financing

Authority

5.50%,

06/30/2043

4,100‌

4,473‌

Pennsylvania

Turnpike

Commission

5.00%,

12/01/2028

2,000‌

2,268‌

5.00%,

12/01/2036

1,725‌

1,840‌

Pennsylvania

Turnpike

Commission

Oil

Franchise

Tax

Revenue

5.00%,

12/01/2046

4,055‌

4,414‌

5.25%,

12/01/2044

4,350‌

4,717‌

Sports

&

Exhibition

Authority

of

Pittsburgh

and

Allegheny

County

(credit

support

from

Assured

Guaranty

Municipal

Corp

)

5.00%,

02/01/2034

(d)

1,895‌

2,196‌

5.00%,

02/01/2035

(d)

9,140‌

10,464‌

$

36,097‌

Puerto

Rico

-

1

.16

%

Commonwealth

of

Puerto

Rico

0.00%,

07/01/2024

(e)

111‌

104‌

0.00%,

07/01/2033

(e)

428‌

248‌

0.00%,

11/01/2043

(b),(e)

1,571‌

693‌

4.00%,

07/01/2033

1,483‌

1,386‌

4.00%,

07/01/2037

257‌

227‌

4.00%,

07/01/2041

349‌

300‌

4.00%,

07/01/2046

363‌

303‌

5.25%,

07/01/2023

1,995‌

2,004‌

5.38%,

07/01/2025

371‌

379‌

5.63%,

07/01/2027

367‌

385‌

5.63%,

07/01/2029

361‌

384‌

5.75%,

07/01/2031

351‌

381‌

$

6,794‌

South

Carolina

-

1

.12

%

County

of

Richland

SC

3.88%,

04/01/2023

1,000‌

1,000‌

South

Carolina

Jobs-Economic

Development

Authority

5.25%,

11/15/2052

1,500‌

1,412‌

6.00%,

06/01/2031

(a)

1,000‌

823‌

6.25%,

06/01/2040

(a)

2,000‌

1,537‌

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

South

Carolina

(continued)

South

Carolina

Jobs-Economic

Development

Authority  

(continued)

6.50%,

06/01/2051

(a)

$

2,500‌

$

1,835‌

$

6,607‌

South

Dakota

-

0

.25

%

Oglala

Sioux

Tribe

5.75%,

10/01/2025

(a)

1,500‌

1,461‌

Tennessee

-

1

.11

%

Metropolitan

Government

Nashville

&

Davidson

County

Health

&

Educational

Facilities

Board

5.00%,

07/01/2040

4,510‌

4,678‌

Metropolitan

Government

Nashville

&

Davidson

County

Industrial

Development

Board

4.00%,

06/01/2051

(a)

1,000‌

812‌

Tennergy

Corp/TN

5.00%,

02/01/2050

(b)

1,000‌

1,024‌

$

6,514‌

Texas

-

8

.82

%

Central

Texas

Regional

Mobility

Authority

5.00%,

01/01/2048

2,740‌

2,886‌

Central

Texas

Turnpike

System

5.00%,

08/15/2031

1,285‌

1,323‌

City

of

Dallas

TX

Waterworks

&

Sewer

System

Revenue

4.00%,

10/01/2037

5,000‌

5,237‌

City

of

Houston

TX

Airport

System

Revenue

5.00%,

07/01/2029

2,000‌

2,021‌

6.63%,

07/15/2038

5,000‌

5,004‌

Harris

County-Houston

Sports

Authority

5.00%,

11/15/2030

3,000‌

3,097‌

Matagorda

County

Navigation

District

No

1

2.60%,

11/01/2029

2,600‌

2,389‌

North

Texas

Tollway

Authority

5.00%,

01/01/2045

1,000‌

1,024‌

Port

Beaumont

Navigation

District

2.75%,

01/01/2036

(a)

1,000‌

729‌

2.88%,

01/01/2041

(a)

1,000‌

677‌

3.63%,

01/01/2035

(a)

4,535‌

3,722‌

Sea

Breeze

Public

Facility

Corp

6.50%,

01/01/2046

100‌

98‌

Tarrant

County

Cultural

Education

Facilities

Finance

Corp

5.00%,

11/15/2037

2,060‌

2,124‌

Texas

Municipal

Gas

Acquisition

and

Supply

Corp

I

6.25%,

12/15/2026

10,015‌

10,644‌

Texas

Private

Activity

Bond

Surface

Transportation

Corp

4.00%,

12/31/2032

2,450‌

2,515‌

5.00%,

12/31/2033

4,000‌

4,317‌

7.00%,

12/31/2038

1,000‌

1,017‌

Texas

Transportation

Commission

State

Highway

249

System

5.00%,

08/01/2057

2,000‌

2,031‌

West

Harris

County

Regional

Water

Authority

4.00%,

12/15/2049

1,000‌

962‌

$

51,817‌

Utah

-

1

.40

%

Utah

Infrastructure

Agency

5.00%,

10/15/2028

1,000‌

1,030‌

5.00%,

10/15/2032

4,385‌

4,502‌

5.00%,

10/15/2037

1,500‌

1,510‌

5.38%,

10/15/2040

1,200‌

1,219‌

$

8,261‌

Schedule

of

Investments

Tax-Exempt

Bond

Fund

January

31,

2023

(unaudited)

See

accompanying

notes.

250

MUNICIPAL

BONDS

(continued)

Principal

Amount

(000’s)

Value

(000’s)

Virginia

-

2

.74

%

County

of

Botetourt

VA

6.00%,

07/01/2034

$

1,000‌

$

1,024‌

6.00%,

07/01/2044

1,000‌

1,019‌

Fairfax

County

Redevelopment

&

Housing

Authority

5.00%,

10/01/2039

3,000‌

3,258‌

King

George

County

Economic

Development

Authority

2.50%,

06/01/2023

(b)

1,600‌

1,592‌

Roanoke

Economic

Development

Authority

6.63%,

12/01/2044

1,295‌

1,338‌

Virginia

Public

School

Authority

5.00%,

08/01/2030

3,535‌

4,138‌

Virginia

Small

Business

Financing

Authority

3.00%,

01/01/2041

3,480‌

2,755‌

4.00%,

01/01/2039

1,000‌

968‌

$

16,092‌

Washington

-

1

.03

%

Port

of

Seattle

WA

5.00%,

08/01/2030

5,250‌

5,942‌

Washington

State

Housing

Finance

Commission

3.50%,

12/20/2035

107‌

101‌

$

6,043‌

West

Virginia

-

0

.21

%

West

Virginia

Economic

Development

Authority

4.12%,

07/01/2045

(b)

1,250‌

1,234‌

Wisconsin

-

1

.52

%

Public

Finance

Authority

4.00%,

03/31/2056

2,500‌

2,032‌

5.00%,

01/01/2024

2,500‌

2,518‌

5.00%,

12/01/2025

3,000‌

3,059‌

5.00%,

10/01/2043

(a)

1,500‌

1,333‌

$

8,942‌

TOTAL

MUNICIPAL

BONDS

$

593,111‌

Total

Investments

$

593,592‌

Liability

for

Floating

Rate

Notes

Issued

in

Conjunction

with

Securities

Held

-

(2.94)%

Notes

with

interest

rates

of

1.69%

-

1.85%

at

January

31,

2023

and

contractual

maturities

of

collateral

from

2023-2029.

(f)

$

(

17,248‌

)

(

17,248‌

)

Total

Net

Investments

$

576,344‌

Other

Assets

and

Liabilities

-  1.93%

11,317‌

TOTAL

NET

ASSETS

-

100.00%

$

587,661‌

(a)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

the

end

of

the

period,

the

value

of

these

securities

totaled

$57,212

or

9.74%

of

net

assets.

(b)

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.  These

securities

do

not

indicate

a

reference

rate

and

spread

in

their

description.

Rate

shown

is

the

rate

in

effect

as

of

period

end.

(c)

Security

or

portion

of

underlying

security

related

to

Inverse

Floaters

entered

into

by

the

fund.

(d)

Credit

support

indicates

investments

that

benefit

from

credit

enhancement

or

liquidity

support

provided

by

a

third

party

bank,

institution,

or

government

agency.

(e)

Non-income

producing

security

(f)

Floating

rate

securities.

The

interest

rate(s)

shown

reflect

the

rates

in

effect

at

January

31,

2023.

Portfolio

Summary  (unaudited)

Sector

Percent

Revenue

Bonds

76

.86‌

%

General

Obligation

Unlimited

10

.26‌

%

Insured

8

.00‌

%

Prerefunded

1

.90‌

%

General

Obligation

Limited

1

.36‌

%

Certificate

Participation

1

.12‌

%

Tax

Allocation

0

.68‌

%

Special

Tax

0

.32‌

%

Special

Assessment

0

.31‌

%

Notes

0

.12‌

%

Investment

Companies

0

.08‌

%

Liability

For

Floating

Rate

Notes

Issued

(

2

.94‌

)

%

Other

Assets

and

Liabilities

1

.93‌

%

TOTAL

NET

ASSETS

100.00%

Glossary

to

the

Schedule

of

Investments

January

31,

2023

(unaudited)

See

accompanying

notes.

251

Currency

Abbreviations

BRL

Brazilian

Real

CAD

Canadian

Dollar

CLP

Chilean

Peso

CNH

Chinese

Renminbi

CZK

Czech

Koruna

EUR

Euro

GBP

British

Pound

Sterling

HKD

Hong

Kong

Dollar

HUF

Hungarian

Forint

IDR

Indonesian

Rupiah

ILS

Israeli

New

Shekel

JPY

Japanese

Yen

KRW

South

Korean

Won

MXN

Mexican

Peso

MYR

Malaysian

Ringgit

PLN

Polish

Zloty

RON

Romanian

New

Leu

THB

Thai

Baht

USD/$

United

States

Dollar

ZAR

South

African

Rand

January

31,

2023

(unaudited)

252

Security

Valuation.

Principal

LifeTime

2010

Fund,

Principal

LifeTime

2015

Fund,

Principal

LifeTime

2020

Fund,

Principal

LifeTime

2025

Fund,

Principal

LifeTime

2030

Fund,

Principal

LifeTime

2035

Fund,

Principal

LifeTime

2040

Fund,

Principal

LifeTime

2045

Fund,

Principal

LifeTime

2050

Fund,

Principal

LifeTime

2055

Fund,

Principal

LifeTime

2060

Fund,

Principal

LifeTime

2065

Fund,

and

Principal

LifeTime

Strategic

Income

Fund

(collectively,

the

“Principal

LifeTime

Funds”),

Principal

LifeTime

Hybrid

2015

Fund,

Principal

LifeTime

Hybrid

2020

Fund,

Principal

LifeTime

Hybrid

2025

Fund,

Principal

LifeTime

Hybrid

2030

Fund,

Principal

LifeTime

Hybrid

2035

Fund,

Principal

LifeTime

Hybrid

2040

Fund,

Principal

LifeTime

Hybrid

2045

Fund,

Principal

LifeTime

Hybrid

2050

Fund,

Principal

LifeTime

Hybrid

2055

Fund,

Principal

LifeTime

Hybrid

2060

Fund,

Principal

LifeTime

Hybrid

2065

Fund,

and

Principal

LifeTime

Hybrid

Income

Fund

(collectively,

the

“Principal

LifeTime

Hybrid

Funds”),

along

with

the

SAM

Balanced,

SAM

Conservative

Balanced

Portfolio,

SAM

Conservative

Growth

Portfolio,

SAM

Flexible

Income

Portfolio,

and

SAM

Strategic

Growth

Portfolio

(collectively,

the

“SAM

Portfolios”)

invest

in

R-6

and

Institutional

shares

of

other

series

of

Principal

Funds,

Inc.

which

are

valued

at

the

closing

net

asset

value

per

share

of

each

respective

fund

on

the

day

of

valuation.

In

addition,

the

SAM

Portfolios

invest

in

Principal

Exchange-Traded

Funds,

which

are

valued

at

fair

value.

The

SAM

Portfolios

also

invest

in

other

publicly

traded

investment

funds.

Other

publicly

traded

investment

funds

are

valued

at

the

respective

fund’s

net

asset

value.

The

shares

of

the

other

series

of

Principal

Funds,

Inc.,

Principal

Exchange-Traded

Funds

and

other

publicly

traded

investment

funds

are

referred

to

as

the

“Underlying

Funds”.

California

Municipal

Fund,

Core

Fixed

Income

Fund,

Core

Plus

Bond

Fund,

Diversified

Income

Fund,

Diversified

International

Fund,

Equity

Income

Fund,

Finisterre

Emerging

Markets

Total

Return

Bond

Fund,

Global

Emerging

Markets

Fund,

Global

Real

Estate

Securities

Fund,

Government

&

High

Quality

Bond

Fund,

High

Income

Fund,

High

Yield

Fund,

Inflation

Protection

Fund,

International

Fund

I,

LargeCap

Growth

Fund

I,

LargeCap

S&P

500

Index

Fund,

LargeCap

Value

Fund

III,

MidCap

Fund,

MidCap

Growth

Fund,

MidCap

Growth

Fund

III,

MidCap

S&P

400

Index

Fund,

MidCap

Value

Fund

I,

Overseas

Fund,

Principal

Capital

Appreciation

Fund,

Real

Estate

Securities

Fund,

Short-Term

Income

Fund,

SmallCap

Fund,

SmallCap

Growth

Fund

I,

SmallCap

S&P

600

Index

Fund,

SmallCap

Value

Fund

II

and

Tax-Exempt

Bond

Fund

(known

as

the

"Funds")

(with

the

exception

of

Principal

LifeTime

Funds,

Principal

LifeTime

Hybrid

Funds,

and

the

SAM

Portfolios)

value

securities

for

which

market

quotations

are

readily

available

at

fair

value,

which

is

determined

using

the

last

reported

sale

price.

If

no

sales

are

reported,

as

is

regularly

the

case

for

some

securities

traded

over-the-counter,

securities

are

valued

using

the

last

reported

bid

price

or

an

evaluated

bid

price

provided

by

a

pricing

service.

Pricing

services

use

modeling

techniques

that

incorporate

security

characteristics

such

as

current

quotations

by

broker/dealers,

coupon,

maturity,

quality,

type

of

issue,

trading

characteristics,

other

yield

and

risk

factors,

and

other

market

conditions

to

determine

an

evaluated

bid

price

or,

in

the

case

of

certain

credit

default

swaps,

a

mean

price

provided

by

a

pricing

service.

When

reliable

market

quotations

are

not

considered

to

be

readily

available,

which

may

be

the

case,

for

example,

with

respect

to

restricted

securities,

certain

debt

securities,

preferred

stocks,

and

foreign

securities,

the

investments

are

valued

at

their

fair

value

as

determined

in

good

faith

by

the

Manager

under

procedures

established

and

periodically

reviewed

by

the

Fund’s

Board

of

Directors.

The

value

of

foreign

securities

used

in

computing

the

net

asset

value

per

share

is

generally

determined

as

of

the

close

of

the

foreign

exchange

where

the

security

is

principally

traded.

Events

that

occur

after

the

close

of

the

applicable

foreign

market

or

exchange

but

prior

to

the

calculation

of

the

Funds’

net

asset

values

are

reflected

in

the

Funds’

net

asset

values

and

these

securities

are

valued

at

fair

value.

Many

factors,

provided

by

independent

pricing

services,

are

reviewed

in

the

course

of

making

a

good

faith

determination

of

a

security’s

fair

value,

including,

but

not

limited

to,

price

movements

in

ADRs,

futures

contracts,

industry

indices,

general

indices,

and

foreign

currencies.

To

the

extent

the

Funds

invest

in

foreign

securities

listed

on

foreign

exchanges

which

trade

on

days

on

which

the

Funds

do

not

determine

net

asset

values,

for

example

weekends

and

other

customary

national

U.S.

holidays,

the

Funds’

net

asset

values

could

be

significantly

affected

on

days

when

shareholders

cannot

purchase

or

redeem

shares.

Certain

securities

issued

by

companies

in

emerging

market

countries

may

have

more

than

one

quoted

valuation

at

any

given

point

in

time,

sometimes

referred

to

as

a

“local”

price

and

a

“premium”

price.

The

premium

price

is

often

a

negotiated

price,

which

may

not

consistently

represent

a

price

at

which

a

specific

transaction

can

be

effected.

It

is

the

policy

of

the

Funds

to

value

such

securities

at

prices

at

which

it

is

expected

those

shares

may

be

sold,

and

the

Manager

or

any

sub-advisor

is

authorized

to

make

such

determinations

subject

to

such

oversight

by

the

Fund’s

Board

of

Directors

as

may

occasionally

be

necessary.

Fair

value

is

defined

as

the

price

that

the

Funds

would

receive

upon

selling

a

security

in

a

timely

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

of

the

security

at

the

measurement

date.

In

determining

fair

value,

the

Funds

may

use

one

or

more

of

the

following

approaches:

market,

income

and/or

cost.

A

hierarchy

for

inputs

is

used

in

measuring

fair

value

that

maximizes

the

use

of

observable

inputs

and

minimizes

the

use

of

unobservable

inputs

by

requiring

that

the

most

observable

inputs

be

used

when

available.

Observable

inputs

are

inputs

that

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability

developed

based

on

market

data

obtained

from

sources

independent

of

the

Funds.

Unobservable

inputs

are

inputs

that

reflect

the

Fund’s

own

estimates

about

the

estimates

market

participants

would

use

in

pricing

the

asset

or

liability

developed

based

on

the

best

information

available

in

the

circumstances.

January

31,

2023

(unaudited)

253

The

three-tier

hierarchy

of

inputs

is

summarized

in

the

three

broad

levels

listed

below.

Level

1

–

Quoted

prices

are

available

in

active

markets

for

identical

securities

as

of

the

reporting

date.

The

type

of

securities

included

in

Level

1

includes

listed

equities

and

listed

derivatives.

Level

2

–

Other

significant

observable

inputs

(including

quoted

prices

for

similar

investments,

interest

rates,

prepayment

speeds,

credit

risk,

etc.).

Investments

which

are

generally

included

in

this

category

include

certain

foreign

equities,

corporate

bonds,

municipal

bonds,

OTC

derivatives,

senior

floating

rate

interests,

and

US

Government

and

Government

Agency

Obligations.

Level

3

–

Significant

unobservable

inputs

(including

the

Funds’

assumptions

in

determining

the

fair

value

of

investments).

Investments

which

may

be

included

in

this

category

include

certain

common

stocks,

convertible

preferred

stocks,

corporate

bonds,

preferred

stocks,

or

senior

floating

rate

interests.

The

availability

of

observable

inputs

can

vary

from

security

to

security

and

is

affected

by

a

wide

variety

of

factors,

including,

for

example,

the

type

of

security,

whether

the

security

is

new

and

not

yet

established

in

the

market

place,

and

other

characteristics

particular

to

the

transaction.

To

the

extent

that

valuation

is

based

on

models

or

inputs

that

are

less

observable

or

unobservable

in

the

market,

the

determination

of

fair

value

requires

more

judgment.

Accordingly,

the

degree

of

judgment

exercised

by

the

Funds

in

determining

fair

value

is

greatest

for

instruments

categorized

in

Level

3.

In

certain

cases,

the

inputs

used

to

measure

fair

value

may

fall

into

different

levels

of

the

fair

value

hierarchy.

In

such

cases,

for

disclosure

purposes,

the

level

in

the

fair

value

hierarchy

within

which

the

fair

value

measurement

in

its

entirety

falls

is

determined

based

on

the

lowest

level

input

that

is

significant

to

the

fair

value

measurement

in

its

entirety.

Fair

value

is

a

market

based

measure

considered

from

the

perspective

of

a

market

participant

who

holds

the

asset

rather

than

an

entity

specific

measure.

Therefore,

even

when

market

assumptions

are

not

readily

available,

the

Fund’s

own

assumptions

are

set

to

reflect

those

that

market

participants

would

use

in

pricing

the

asset

or

liability

at

the

measurement

date.

The

Funds

use

prices

and

inputs

that

are

current

as

of

the

measurement

date,

when

available.

Investments

which

are

included

in

the

Level

3

category

may

be

valued

using

quoted

prices

from

brokers

and

dealers

participating

in

the

market

for

these

investments.

These

investments

are

classified

as

Level

3

investments

due

to

the

lack

of

market

transparency

and

market

corroboration

to

support

these

quoted

prices.

Valuation

models

may

be

used

as

the

pricing

source

for

other

investments

classified

as

Level

3.

Benchmark

pricing

procedures

set

the

base

price

of

a

security

based

on

current

market

data.

The

base

price

may

be

a

broker-dealer

quote,

transaction

price,

or

internal

value

based

on

relevant

market

data.

The

fair

values

of

these

securities

are

dependent

on

economic,

political

and

other

considerations.

The

values

of

such

securities

may

be

affected

by

significant

changes

in

the

economic

conditions,

changes

in

government

policies,

and

other

factors

(e.g.,

natural

disasters,

accidents,

conflicts,

etc.).

The

inputs

or

methodology

used

for

valuing

securities

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

those

instruments.

The

following

is

a

summary

of

the

inputs

used

as

of

January

31,

2023

in

valuing

the

Funds'

securities

carried

at

value

(amounts

shown

in

thousands):

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

California

Municipal

Fund

Investment

Companies

$

2,520

$

—

$

—

$

2,520

Municipal

Bonds*

—

585,949

—

585,949

Total

investments

in

securities

$

2,520

$

585,949

$

—

$

588,469

Core

Fixed

Income

Fund

Bonds*

—

5,336,514

—

5,336,514

Common

Stocks

Energy

24,391

—

—

24,391

January

31,

2023

(unaudited)

254

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Core

Fixed

Income

Fund

(continued)

Common

Stocks

(continued)

Industrial

$

—

$

—

$

20,883

$

20,883

Investment

Companies

441,720

—

—

441,720

Senior

Floating

Rate

Interests*

—

8,391

—

8,391

U.S.

Government

&

Government

Agency

Obligations*

—

4,307,758

—

4,307,758

Total

investments

in

securities

$

466,111

$

9,652,663

$

20,883

$

10,139,657

Core

Plus

Bond

Fund

Bonds*

—

306,762

9

306,771

Common

Stocks

Consumer,

Cyclical

—

106

—

106

Energy

—

—

10

10

Financial

—

1

—

1

Investment

Companies

18,074

—

—

18,074

Preferred

Stocks

Government

—

3,465

—

3,465

Senior

Floating

Rate

Interests*

—

5,066

—

5,066

U.S.

Government

&

Government

Agency

Obligations*

—

347,485

—

347,485

Total

investments

in

securities

$

18,074

$

662,885

$

19

$

680,978

Derivative

Assets

Interest

Rate

Contracts

Futures**

335

—

—

335

Derivative

Liabilities

Credit

Contracts

Exchange

Cleared

Credit

Default

Swaps**

—

(1,569)

—

(1,569)

Interest

Rate

Contracts

Futures**

(58)

—

—

(58)

Diversified

Income

Fund

Bonds*

—

2,070,199

98,274

2,168,473

Common

Stocks

Basic

Materials

—

—

43,468

43,468

Consumer,

Cyclical

—

23,583

—

23,583

Consumer,

Non-cyclical

—

386

—

386

Energy

4

—

—

4

Industrial

—

7,723

6

7,729

Technology

443

415

—

858

Convertible

Bonds*

—

348

—

348

Investment

Companies

399,968

—

—

399,968

Preferred

Stocks

Consumer,

Non-cyclical

—

—

900

900

Energy

936

—

—

936

Financial

24,332

3,300

—

27,632

Government

—

693

—

693

Utilities

10,799

—

—

10,799

Senior

Floating

Rate

Interests*

—

395,542

7,103

402,645

U.S.

Government

&

Government

Agency

Obligations*

—

39,365

—

39,365

Total

investments

in

securities

$

436,482

$

2,541,554

$

149,751

$

3,127,787

Derivative

Assets

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

79

—

79

Interest

Rate

Contracts

Futures**

72

—

—

72

Derivative

Liabilities

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

(100)

—

(100)

Diversified

International

Fund

Common

Stocks

Basic

Materials

89,754

205,971

—

295,725

Communications

52,533

76,115

—

128,648

Consumer,

Cyclical

218,800

482,384

—

701,184

Consumer,

Non-cyclical

55,088

889,086

—

944,174

Energy

110,399

156,138

—

266,537

January

31,

2023

(unaudited)

255

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Diversified

International

Fund

(continued)

Common

Stocks

(continued)

Financial

$

298,465

$

783,172

$

—

$

1,081,637

Industrial

102,440

434,554

—

536,994

Technology

14,807

595,585

—

610,392

Utilities

—

70,564

—

70,564

Investment

Companies

72,422

—

—

72,422

Total

investments

in

securities

$

1,014,708

$

3,693,569

$

—

$

4,708,277

Equity

Income

Fund

Common

Stocks*

9,730,305

—

—

9,730,305

Investment

Companies

198,678

—

—

198,678

Total

investments

in

securities

$

9,928,983

$

—

$

—

$

9,928,983

Finisterre

Emerging

Markets

Total

Return

Bond

Fund

Bonds*

—

354,497

—

354,497

Convertible

Bonds*

—

3,604

—

3,604

Investment

Companies

46,664

—

—

46,664

Total

investments

in

securities

$

46,664

$

358,101

$

—

$

404,765

Derivative

Assets

Credit

Contracts

Exchange

Cleared

Credit

Default

Swaps**

—

91

—

91

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

607

—

607

Interest

Rate

Contracts

Exchange

Cleared

Interest

Rate

Swaps**

—

949

—

949

Futures**

425

—

—

425

Derivative

Liabilities

Credit

Contracts

Exchange

Cleared

Credit

Default

Swaps**

—

(1,315)

—

(1,315)

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

(488)

—

(488)

Interest

Rate

Contracts

Exchange

Cleared

Interest

Rate

Swaps**

—

(901)

—

(901)

Global

Emerging

Markets

Fund

Common

Stocks

Basic

Materials

4,886

8,749

—

13,635

Communications

6,136

35,658

—

41,794

Consumer,

Cyclical

6,017

25,547

—

31,564

Consumer,

Non-cyclical

4,480

22,800

—

27,280

Energy

1,905

13,258

—

15,163

Financial

7,242

34,384

—

41,626

Industrial

1,509

15,911

—

17,420

Technology

4,073

40,477

—

44,550

Utilities

—

1,911

—

1,911

Investment

Companies

5,462

—

—

5,462

Preferred

Stocks

Financial

—

40

—

40

Total

investments

in

securities

$

41,710

$

198,735

$

—

$

240,445

Global

Real

Estate

Securities

Fund

Common

Stocks

Communications

—

12,976

—

12,976

Consumer,

Cyclical

16,160

—

—

16,160

Financial

1,496,222

772,659

—

2,268,881

Industrial

—

10,899

—

10,899

Investment

Companies

57,163

—

—

57,163

Total

investments

in

securities

$

1,569,545

$

796,534

$

—

$

2,366,079

January

31,

2023

(unaudited)

256

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Government

&

High

Quality

Bond

Fund

Bonds*

$

—

$

76,282

$

—

$

76,282

Investment

Companies

3,226

—

—

3,226

U.S.

Government

&

Government

Agency

Obligations*

—

586,026

—

586,026

Total

investments

in

securities

$

3,226

$

662,308

$

—

$

665,534

Derivative

Assets

Interest

Rate

Contracts

Futures**

1,363

—

—

1,363

Derivative

Liabilities

Interest

Rate

Contracts

Futures**

(432)

—

—

(432)

High

Income

Fund

Bonds*

—

2,653,404

17,040

2,670,444

Common

Stocks

Basic

Materials

—

—

1,322

1,322

Communications

—

—

—

—

Consumer,

Cyclical

—

7,808

—

7,808

Energy

—

—

—

—

Industrial

—

7,117

5

7,122

Technology

364

—

—

364

Utilities

—

—

—

—

Investment

Companies

105,657

—

—

105,657

Preferred

Stocks

—

—

—

—

Senior

Floating

Rate

Interests*

—

270,632

5,657

276,289

U.S.

Government

&

Government

Agency

Obligations*

—

33,179

—

33,179

Total

investments

in

securities

$

106,021

$

2,972,140

$

24,024

$

3,102,185

Derivative

Assets

Credit

Contracts

Exchange

Cleared

Credit

Default

Swaps**

—

342

—

342

High

Yield

Fund

Bonds*

—

2,010,833

95

2,010,928

Common

Stocks

Consumer,

Cyclical

—

1,850

—

1,850

Energy

—

—

386

386

Financial

—

25

—

25

Convertible

Bonds*

—

—

—

—

Investment

Companies

102,189

—

—

102,189

Senior

Floating

Rate

Interests*

—

134,128

—

134,128

U.S.

Government

&

Government

Agency

Obligations*

—

47,047

—

47,047

Total

investments

in

securities

$

102,189

$

2,193,883

$

481

$

2,296,553

Derivative

Liabilities

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

(41)

—

(41)

Inflation

Protection

Fund

Bonds*

—

30,736

—

30,736

Investment

Companies

19,603

—

—

19,603

U.S.

Government

&

Government

Agency

Obligations*

—

1,542,022

—

1,542,022

Purchased

Options

788

—

—

788

Purchased

Interest

Rate

Swaptions

—

3,563

—

3,563

Total

investments

in

securities

$

20,391

$

1,576,321

$

—

$

1,596,712

Derivative

Assets

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

117

—

117

Interest

Rate

Contracts

Exchange

Cleared

Interest

Rate

Swaps**

—

1,488

—

1,488

Futures**

463

—

—

463

Derivative

Liabilities

Foreign

Exchange

Contracts

Foreign

Currency

Contracts

—

(132)

—

(132)

Interest

Rate

Contracts

Exchange

Cleared

Interest

Rate

Swaps**

—

(3,209)

—

(3,209)

January

31,

2023

(unaudited)

257

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Inflation

Protection

Fund

(continued)

Interest

Rate

Contracts

(continued)

Futures**

$

(82)

$

—

$

—

$

(82)

Interest

Rate

Swaptions

—

(7,104)

—

(7,104)

Written

Options

(259

)

—

—

(259

)

International

Fund

I

Common

Stocks

Basic

Materials

—

15,769

—

15,769

Communications

6,118

10,113

—

16,231

Consumer,

Cyclical

6,624

35,930

—

42,554

Consumer,

Non-cyclical

1,764

53,711

—

55,475

Energy

2,010

20,666

—

22,676

Financial

16,495

73,462

—

89,957

Industrial

2,784

23,839

—

26,623

Technology

3,201

35,123

—

38,324

Utilities

—

5,036

—

5,036

Investment

Companies

4,694

—

—

4,694

Preferred

Stocks

1,252

—

—

1,252

Total

investments

in

securities

$

44,942

$

273,649

$

—

$

318,591

LargeCap

Growth

Fund

I

Common

Stocks

Basic

Materials

13,822

—

—

13,822

Communications

1,643,395

—

—

1,643,395

Consumer,

Cyclical

736,811

—

—

736,811

Consumer,

Non-cyclical

2,535,348

—

—

2,535,348

Energy

22,467

—

—

22,467

Financial

652,444

—

—

652,444

Industrial

507,703

—

—

507,703

Technology

3,525,449

—

2,318

3,527,767

Utilities

609

—

—

609

Convertible

Preferred

Stocks

Basic

Materials

—

—

3,230

3,230

Consumer,

Cyclical

—

—

2,301

2,301

Technology

—

—

8,627

8,627

Investment

Companies

274,521

—

—

274,521

Total

investments

in

securities

$

9,912,569

$

—

$

16,476

$

9,929,045

Derivative

Assets

Equity

Contracts

Futures**

1,568

—

—

1,568

LargeCap

S&P

500

Index

Fund

Common

Stocks*

5,644,752

—

—

5,644,752

Investment

Companies

105,447

—

—

105,447

Total

investments

in

securities

$

5,750,199

$

—

$

—

$

5,750,199

Derivative

Assets

Equity

Contracts

Futures**

2,622

—

—

2,622

LargeCap

Value

Fund

III

Common

Stocks*

2,647,577

—

—

2,647,577

Investment

Companies

76,637

—

—

76,637

Total

investments

in

securities

$

2,724,214

$

—

$

—

$

2,724,214

Derivative

Assets

Equity

Contracts

Futures**

219

—

—

219

MidCap

Fund

Common

Stocks*

19,344,698

—

—

19,344,698

Investment

Companies

9,357

—

—

9,357

Total

investments

in

securities

$

19,354,055

$

—

$

—

$

19,354,055

January

31,

2023

(unaudited)

258

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

MidCap

Growth

Fund

Common

Stocks*

$

231,577

$

—

$

—

$

231,577

Investment

Companies

8,115

—

—

8,115

Total

investments

in

securities

$

239,692

$

—

$

—

$

239,692

MidCap

Growth

Fund

III

Common

Stocks*

1,205,128

—

—

1,205,128

Investment

Companies

40,899

—

—

40,899

Total

investments

in

securities

$

1,246,027

$

—

$

—

$

1,246,027

Derivative

Assets

Equity

Contracts

Futures**

208

—

—

208

MidCap

S&P

400

Index

Fund

Common

Stocks*

1,334,680

—

—

1,334,680

Investment

Companies

23,291

—

—

23,291

Total

investments

in

securities

$

1,357,971

$

—

$

—

$

1,357,971

Derivative

Assets

Equity

Contracts

Futures**

436

—

—

436

MidCap

Value

Fund

I

Common

Stocks*

3,888,894

—

—

3,888,894

Investment

Companies

108,128

—

—

108,128

Total

investments

in

securities

$

3,997,022

$

—

$

—

$

3,997,022

Derivative

Assets

Equity

Contracts

Futures**

1,231

—

—

1,231

Overseas

Fund

Common

Stocks

Basic

Materials

—

128,211

—

128,211

Communications

—

60,134

—

60,134

Consumer,

Cyclical

29,418

213,787

—

243,205

Consumer,

Non-cyclical

15,093

450,757

—

465,850

Diversified

—

458

—

458

Energy

45,253

59,808

—

105,061

Financial

4,024

498,325

—

502,349

Industrial

14,723

375,897

—

390,620

Technology

103

99,314

—

99,417

Utilities

—

116,615

—

116,615

Investment

Companies

42,267

—

—

42,267

Preferred

Stocks

Consumer,

Cyclical

—

1,449

—

1,449

Consumer,

Non-cyclical

—

20,877

—

20,877

Total

investments

in

securities

$

150,881

$

2,025,632

$

—

$

2,176,513

Derivative

Assets

Equity

Contracts

Futures**

272

—

—

272

Principal

Capital

Appreciation

Fund

Common

Stocks

Basic

Materials

106,755

—

—

106,755

Communications

400,712

—

—

400,712

Consumer,

Cyclical

385,231

—

—

385,231

Consumer,

Non-cyclical

570,195

—

—

570,195

Energy

160,478

—

—

160,478

Financial

625,230

—

—

625,230

Industrial

235,716

31,161

—

266,877

Technology

651,828

—

—

651,828

Utilities

102,068

—

—

102,068

Investment

Companies

18,516

—

—

18,516

Total

investments

in

securities

$

3,256,729

$

31,161

$

—

$

3,287,890

January

31,

2023

(unaudited)

259

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Principal

LifeTime

2010

Fund

Investment

Companies

$

535,751

$

—

$

—

$

535,751

Total

investments

in

securities

$

535,751

$

—

$

—

$

535,751

Principal

LifeTime

2015

Fund

Investment

Companies

274,265

—

—

274,265

Total

investments

in

securities

$

274,265

$

—

$

—

$

274,265

Principal

LifeTime

2020

Fund

Investment

Companies

2,708,866

—

—

2,708,866

Total

investments

in

securities

$

2,708,866

$

—

$

—

$

2,708,866

Principal

LifeTime

2025

Fund

Investment

Companies

1,605,338

—

—

1,605,338

Total

investments

in

securities

$

1,605,338

$

—

$

—

$

1,605,338

Principal

LifeTime

2030

Fund

Investment

Companies

5,345,831

—

—

5,345,831

Total

investments

in

securities

$

5,345,831

$

—

$

—

$

5,345,831

Principal

LifeTime

2035

Fund

Investment

Companies

1,660,402

—

—

1,660,402

Total

investments

in

securities

$

1,660,402

$

—

$

—

$

1,660,402

Principal

LifeTime

2040

Fund

Investment

Companies

4,135,443

—

—

4,135,443

Total

investments

in

securities

$

4,135,443

$

—

$

—

$

4,135,443

Principal

LifeTime

2045

Fund

Investment

Companies

1,302,178

—

—

1,302,178

Total

investments

in

securities

$

1,302,178

$

—

$

—

$

1,302,178

Principal

LifeTime

2050

Fund

Investment

Companies

2,737,137

—

—

2,737,137

Total

investments

in

securities

$

2,737,137

$

—

$

—

$

2,737,137

Principal

LifeTime

2055

Fund

Investment

Companies

796,320

—

—

796,320

Total

investments

in

securities

$

796,320

$

—

$

—

$

796,320

Principal

LifeTime

2060

Fund

Investment

Companies

748,385

—

—

748,385

Total

investments

in

securities

$

748,385

$

—

$

—

$

748,385

Principal

LifeTime

2065

Fund

Investment

Companies

113,734

—

—

113,734

Total

investments

in

securities

$

113,734

$

—

$

—

$

113,734

Principal

LifeTime

Hybrid

2015

Fund

Investment

Companies

188,383

—

—

188,383

Total

investments

in

securities

$

188,383

$

—

$

—

$

188,383

Principal

LifeTime

Hybrid

2020

Fund

Investment

Companies

466,987

—

—

466,987

Total

investments

in

securities

$

466,987

$

—

$

—

$

466,987

January

31,

2023

(unaudited)

260

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

Principal

LifeTime

Hybrid

2025

Fund

Investment

Companies

$

586,833

$

—

$

—

$

586,833

Total

investments

in

securities

$

586,833

$

—

$

—

$

586,833

Principal

LifeTime

Hybrid

2030

Fund

Investment

Companies

584,148

—

—

584,148

Total

investments

in

securities

$

584,148

$

—

$

—

$

584,148

Principal

LifeTime

Hybrid

2035

Fund

Investment

Companies

446,536

—

—

446,536

Total

investments

in

securities

$

446,536

$

—

$

—

$

446,536

Principal

LifeTime

Hybrid

2040

Fund

Investment

Companies

443,237

—

—

443,237

Total

investments

in

securities

$

443,237

$

—

$

—

$

443,237

Principal

LifeTime

Hybrid

2045

Fund

Investment

Companies

289,306

—

—

289,306

Total

investments

in

securities

$

289,306

$

—

$

—

$

289,306

Principal

LifeTime

Hybrid

2050

Fund

Investment

Companies

247,534

—

—

247,534

Total

investments

in

securities

$

247,534

$

—

$

—

$

247,534

Principal

LifeTime

Hybrid

2055

Fund

Investment

Companies

130,807

—

—

130,807

Total

investments

in

securities

$

130,807

$

—

$

—

$

130,807

Principal

LifeTime

Hybrid

2060

Fund

Investment

Companies

60,446

—

—

60,446

Total

investments

in

securities

$

60,446

$

—

$

—

$

60,446

Principal

LifeTime

Hybrid

2065

Fund

Investment

Companies

16,000

—

—

16,000

Total

investments

in

securities

$

16,000

$

—

$

—

$

16,000

Principal

LifeTime

Hybrid

Income

Fund

Investment

Companies

100,528

—

—

100,528

Total

investments

in

securities

$

100,528

$

—

$

—

$

100,528

Principal

LifeTime

Strategic

Income

Fund

Investment

Companies

346,912

—

—

346,912

Total

investments

in

securities

$

346,912

$

—

$

—

$

346,912

Real

Estate

Securities

Fund

Common

Stocks*

5,809,565

—

—

5,809,565

Investment

Companies

81,524

—

—

81,524

Total

investments

in

securities

$

5,891,089

$

—

$

—

$

5,891,089

SAM

Balanced

Portfolio

Investment

Companies

4,282,265

—

—

4,282,265

Total

investments

in

securities

$

4,282,265

$

—

$

—

$

4,282,265

SAM

Conservative

Balanced

Portfolio

Investment

Companies

1,723,240

—

—

1,723,240

Total

investments

in

securities

$

1,723,240

$

—

$

—

$

1,723,240

January

31,

2023

(unaudited)

261

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

SAM

Conservative

Growth

Portfolio

Investment

Companies

$

2,907,245

$

—

$

—

$

2,907,245

Total

investments

in

securities

$

2,907,245

$

—

$

—

$

2,907,245

SAM

Flexible

Income

Portfolio

Investment

Companies

2,545,198

—

—

2,545,198

Total

investments

in

securities

$

2,545,198

$

—

$

—

$

2,545,198

SAM

Strategic

Growth

Portfolio

Investment

Companies

1,938,714

—

—

1,938,714

Total

investments

in

securities

$

1,938,714

$

—

$

—

$

1,938,714

Short-Term

Income

Fund

Bonds*

—

2,896,584

—

2,896,584

Investment

Companies

17,335

—

—

17,335

U.S.

Government

&

Government

Agency

Obligations*

—

301,098

—

301,098

Total

investments

in

securities

$

17,335

$

3,197,682

$

—

$

3,215,017

Derivative

Liabilities

Interest

Rate

Contracts

Futures**

(56)

—

—

(56)

SmallCap

Fund

Common

Stocks*

1,234,203

—

—

1,234,203

Investment

Companies

10,743

—

—

10,743

Total

investments

in

securities

$

1,244,946

$

—

$

—

$

1,244,946

SmallCap

Growth

Fund

I

Common

Stocks

Basic

Materials

48,970

—

—

48,970

Communications

65,859

—

—

65,859

Consumer,

Cyclical

314,630

—

—

314,630

Consumer,

Non-cyclical

736,344

—

—

736,344

Energy

165,871

—

—

165,871

Financial

179,613

—

—

179,613

Industrial

356,352

—

—

356,352

Technology

350,298

—

—

350,298

Utilities

7,712

—

—

7,712

Investment

Companies

151,531

—

—

151,531

Total

investments

in

securities

$

2,377,180

$

—

$

—

$

2,377,180

Derivative

Assets

Equity

Contracts

Futures**

179

—

—

179

SmallCap

S&P

600

Index

Fund

Common

Stocks*

1,183,820

—

—

1,183,820

Investment

Companies

20,065

—

—

20,065

Total

investments

in

securities

$

1,203,885

$

—

$

—

$

1,203,885

Derivative

Assets

Equity

Contracts

Futures**

386

—

—

386

SmallCap

Value

Fund

II

Common

Stocks

Basic

Materials

52,628

—

—

52,628

Communications

11,099

—

—

11,099

Consumer,

Cyclical

184,693

—

—

184,693

Consumer,

Non-cyclical

113,366

—

9

113,375

Energy

76,442

—

—

76,442

Financial

323,119

—

—

323,119

Government

28

—

—

28

Industrial

212,432

—

—

212,432

January

31,

2023

(unaudited)

262

*For

additional

detail

regarding

sector

classifications,

please

see

the

Schedule

of

Investments.

**Exchange

cleared

swaps

and

futures

are

presented

at

the

unrealized

appreciation/(depreciation)

of

the

instrument.

Certain

detailed

information

is

provided

for

those

Funds

with

significant

investments

in

Level

3

securities.

Quantitative

information

about

the

significant

unobservable

inputs

used

in

the

fair

value

measurements

categorized

with

Level

3

of

the

fair

value

hierarchy

is

as

follows

(amounts

in

thousands):

*Unobservable

inputs

were

weighted

by

the

relative

fair

value

of

the

instruments.

The

changes

in

investments

measured

at

fair

value

for

which

Level

3

inputs

have

been

used

to

determine

fair

value

are

as

follows

(amounts

shown

in

thousands):

*Securities

are

transferred

into

Level

3

for

a

variety

of

reasons

including,

but

not

limited

to:

1.

Securities

where

trading

has

been

halted

2.

Securities

that

have

certain

restrictions

on

trading

3.

Instances

in

which

a

security

is

not

priced

by

a

pricing

services

**Securities

are

transferred

out

of

Level

3

for

a

variety

of

reasons

including,

but

not

limited

to:

1.

Securities

where

trading

resumes

2.

Securities

where

trading

restrictions

have

expired

3.

Instances

in

which

a

price

becomes

available

from

a

pricing

service

At

the

end

of

the

period,

there

were

no

other

Funds

which

had

a

significant

Level

3

balance.

During

the

period,

there

were

no

significant

Fund

Level

1

-

Quoted

Prices

Level

2

-

Other

Significant

Observable

Inputs

Level

3

-

Significant

Unobservable

Inputs

Totals

(Level

1,2,3)

SmallCap

Value

Fund

II

(continued)

Common

Stocks

(continued)

Technology

$

94,276

$

—

$

—

$

94,276

Utilities

47,521

—

—

47,521

Investment

Companies

64,086

—

—

64,086

Total

investments

in

securities

$

1,179,690

$

—

$

9

$

1,179,699

Derivative

Assets

Equity

Contracts

Futures**

116

—

—

116

Tax-Exempt

Bond

Fund

Investment

Companies

481

—

—

481

Municipal

Bonds*

—

593,111

—

593,111

Total

investments

in

securities

$

481

$

593,111

$

—

$

593,592

Fund

Asset

Type

Fair

Value

as

of

January

31,

2023

Valuation

Technique

Unobservable

Input

Input

Valuations

(weighted

average)*

Impact

to

Valuation

if

Input

Had

Increased

Diversified

Income

Fund

Bonds

$

98,101

Yield

Analysis

Yield

to

Maturity

11.4%

-

15.1%

(13.7%)

Increase

173

Liquidation

Analysis

Discount

Rate

14.1%

Decrease

Common

Stocks

43,468

Enterprise

Valuation

Model

EBITDA

Multiples

1.1

–

6.3x

(4.2x)

Increase

Discounted

Cash

Flow

Discount

Rate

13.2%

-

19.3%

(14.3%)

Decrease

6

Market

Quotations

Broker

Quote

$0.10

Increase

Preferred

Stock

900

Market

Quotations

Broker

Quote

$90.00

Increase

Senior

Floating

Rate

Interests

7,103

Precedent

Transaction

Analysis

Direct

Offering

Price

$100.00

Increase

$

149,751

Fund

Fair

Value

October

31,

2022

Realized

Gain/

(Loss)

Accrued

Discounts/

Premiums

and

Change

in

Unrealized

Gain/

(Loss)

Purchases

Proceeds

from

Sales

Transfers

into

Level

3*

Transfers

Out

of

Level

3**

Value

as

of

January

31,

2023

Net

Change

in

Unrealized

Appreciation/

(Depreciation)

on

Investments

Held

at

October

31,

2022

Diversified

Income

Fund

Bonds

$

97,585

$

—

$

366

$

323

$

—

$

—

$

—

$

98,274

$

418

Common

Stock

49,418

40

2,295

—

(195)

—

(8,084)

43,474

2,145

Preferred

Stock

—

—

(55)

—

—

955

—

900

(55)

Senior

Floating

Rates

Interests

6,885

—

—

218

—

—

—

7,103

—

Total

$

153,888

$

40

$

2,606

$

541

$

(195)

$

955

$

(8,084)

$

149,751

$

2,508

January

31,

2023

(unaudited)

263

purchases,

sales,

or

transfers

into

or

out

of

Level

3,

except

as

noted

above.

The

Funds'

Schedules

of

Investments

as

of

January

31,

2023

have

not

been

audited.

This

report

is

provided

for

the

general

information

of

the

Funds'

shareholders.

For

more

information

regarding

the

Fund

and

its

holdings,

please

see

the

Funds'

prospectus

and

annual

report.