Banking Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 98.1%
Banks - 92.2%
JPMorgan Chase & Co.		3,170	$	461,045
Wells Fargo & Co.		10,640		454,115
Bank of America Corp.		15,278		438,326
Citigroup, Inc.		9,250		425,870
U.S. Bancorp		11,768		388,815
PNC Financial Services Group, Inc.		3,058		385,155
Truist Financial Corp.		11,031		334,791
Bank of New York Mellon Corp.		7,208		320,900
State Street Corp.		3,582		262,131
M&T Bank Corp.		1,971		243,931
Fifth Third Bancorp		8,712		228,342
Regions Financial Corp.		12,334		219,792
Huntington Bancshares, Inc.		19,634		211,655
Northern Trust Corp.		2,849		211,225
Citizens Financial Group, Inc.		6,990		182,299
Toronto-Dominion Bank		2,814		174,496
ICICI Bank Ltd. ADR		7,416		171,161
East West Bancorp, Inc.		2,815		148,604
KeyCorp		15,977		147,627
First Citizens BancShares, Inc. — Class A		110		141,179
Royal Bank of Canada		1,461		139,540
HDFC Bank Ltd. ADR		1,978		137,867
Cullen/Frost Bankers, Inc.		1,282		137,853
NU Holdings Limited/Cayman Islands — Class A*		17,433		137,546
Webster Financial Corp.		3,609		136,240
First Horizon Corp.		11,758		132,513
Comerica, Inc.		3,015		127,715
Bank of Nova Scotia		2,521		126,151
Commerce Bancshares, Inc.		2,588		126,036
Popular, Inc.		2,054		124,308
HSBC Holdings plc ADR1		3,010		119,256
Prosperity Bancshares, Inc.		2,108		119,060
SouthState Corp.		1,777		116,927
Wintrust Financial Corp.		1,604		116,482
Bank OZK		2,881		115,701
Pinnacle Financial Partners, Inc.		1,998		113,187
Old National Bancorp		8,009		111,645
Synovus Financial Corp.		3,663		110,806
Banco Bradesco S.A. ADR		31,601		109,339
FNB Corp.		9,450		108,108
Bank of Montreal		1,183		106,837
First Financial Bankshares, Inc.		3,736		106,439
Columbia Banking System, Inc.		5,200		105,456
United Bankshares, Inc.		3,487		103,459
Cadence Bank		5,118		100,517
Western Alliance Bancorporation1		2,755		100,475
Zions Bancorp North America1		3,716		99,812
Canadian Imperial Bank of Commerce		2,303		98,292
UBS Group AG		4,771		96,708
Valley National Bancorp		12,407		96,154
Hancock Whitney Corp.		2,445		93,839
United Community Banks, Inc.		3,570		89,214
Deutsche Bank AG		8,039		84,651
Associated Banc-Corp.		5,180		84,071
Texas Capital Bancshares, Inc.*		1,632		84,048
Cathay General Bancorp		2,467		79,413
Ameris Bancorp		2,269		77,622
First Interstate BancSystem, Inc. — Class A		3,118		74,333
Fulton Financial Corp.		6,186		73,737
UMB Financial Corp.		1,197		72,897
Seacoast Banking Corporation of Florida		3,236		71,516
CVB Financial Corp.		5,220		69,322
PacWest Bancorp1		6,032		49,161
Independent Bank Corp.		1,077		47,937
Total Banks				10,083,649
Diversified Financial Services - 3.2%
Capital One Financial Corp.		3,156		345,172
Savings & Loans - 2.7%
New York Community Bancorp, Inc.		14,095		158,428
Pacific Premier Bancorp, Inc.		3,610		74,655
Washington Federal, Inc.		2,568		68,103
Total Savings & Loans				301,186
Total Common Stocks
(Cost $9,806,365)				10,730,007
PREFERRED STOCKS† - 1.3%
Financial - 1.3%
Itau Unibanco Holding S.A.  ADR		24,420		144,078
Total Preferred Stocks
(Cost $116,543)				144,078

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	32,746	32,746
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		14,407	14,407
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		13,097	13,097
Total Repurchase Agreements
(Cost $60,250)			60,250

	Shares
SECURITIES LENDING COLLATERAL†,3 - 2.6%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4		280,820		280,820
Total Securities Lending Collateral
(Cost $280,820)				280,820
Total Investments - 102.6%
(Cost $10,263,978)			$	11,215,155
Other Assets & Liabilities, net - (2.6)%				(281,632	)
Total Net Assets - 100.0%			$	10,933,523

Banking Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

^* Non-income producing security.

^† Value determined based on Level 1 inputs — See Note 3.

^†† Value determined based on Level 2 inputs — See Note 3.

¹ All or a portion of this security is on loan at June 30, 2023 — See Note 5.

² Repurchase Agreements — See Note 4.

³ Securities lending collateral — See Note 5.

⁴ Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	10,730,007	$	—	$	—	$	10,730,007
Preferred Stocks		144,078		—		—		144,078
Repurchase Agreements		—		60,250		—		60,250
Securities Lending Collateral		280,820		—		—		280,820
Total Assets	$	11,154,905	$	60,250	$	—	$	11,215,155

Basic Materials Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.5%
Chemicals - 40.5%
Linde plc		4,324	$	1,647,790
Air Products and Chemicals, Inc.		3,304		989,647
Sherwin-Williams Co.		3,654		970,210
Ecolab, Inc.		4,461		832,824
Dow, Inc.		13,672		728,171
PPG Industries, Inc.		4,798		711,543
DuPont de Nemours, Inc.		9,076		648,389
Albemarle Corp.		2,732		609,482
LyondellBasell Industries N.V. — Class A		6,288		577,427
International Flavors & Fragrances, Inc.		6,628		527,523
Nutrien Ltd.		8,142		480,785
CF Industries Holdings, Inc.		6,383		443,108
FMC Corp.		3,987		416,004
RPM International, Inc.		4,605		413,207
Mosaic Co.		11,511		402,885
Celanese Corp. — Class A		3,461		400,784
Eastman Chemical Co.		4,501		376,824
Axalta Coating Systems Ltd.*		9,831		322,555
Olin Corp.		5,932		304,845
Chemours Co.		7,851		289,623
Valvoline, Inc.		7,691		288,489
Livent Corp.*		9,684		265,632
Huntsman Corp.		9,707		262,283
Element Solutions, Inc.		12,815		246,048
Westlake Corp.		2,033		242,883
Ashland, Inc.		2,781		241,697
Total Chemicals				13,640,658
Mining - 24.1%
Freeport-McMoRan, Inc.		22,810		912,400
Newmont Corp.		16,113		687,381
Barrick Gold Corp.		40,404		684,040
Rio Tinto plc ADR		7,985		509,762
BHP Group Ltd. ADR		8,256		492,635
Agnico Eagle Mines Ltd.		8,446		422,131
Wheaton Precious Metals Corp.		8,959		387,208
Pan American Silver Corp.		22,330		325,571
Franco-Nevada Corp.		2,275		324,415
Royal Gold, Inc.		2,759		316,678
Kinross Gold Corp.		63,753		304,102
Gold Fields Ltd. ADR		20,937		289,559
Southern Copper Corp.		4,036		289,543
Alcoa Corp.		8,266		280,465
AngloGold Ashanti Ltd. ADR		13,253		279,506
Alamos Gold, Inc. — Class A		21,660		258,187
Lithium Americas Corp.*,1		12,475		252,120
First Majestic Silver Corp.		43,512		245,843
Sibanye Stillwater Ltd. ADR		35,985		224,546
MP Materials Corp.*,1		9,455		216,330
SSR Mining, Inc.		13,943		197,712
Hecla Mining Co.		38,060		196,009
Total Mining				8,096,143
Iron & Steel - 13.1%
Nucor Corp.		4,867		798,091
Vale S.A. ADR		57,962		777,850
Steel Dynamics, Inc.		4,690		510,882
Reliance Steel & Aluminum Co.		1,814		492,664
Cleveland-Cliffs, Inc.*		20,712		347,133
ArcelorMittal S.A.		12,060		329,720
Commercial Metals Co.		5,821		306,534
ATI, Inc.*		6,619		292,758
Gerdau S.A. ADR		53,239		277,908
United States Steel Corp.		11,067		276,786
Total Iron & Steel				4,410,326
Packaging & Containers - 8.8%
Ball Corp.		9,119		530,817
Amcor plc		41,646		415,627
Packaging Corporation of America		3,046		402,560
Crown Holdings, Inc.		4,501		391,002
Berry Global Group, Inc.		5,076		326,590
Westrock Co.		10,773		313,171
Graphic Packaging Holding Co.		12,636		303,643
Sealed Air Corp.		7,158		286,320
Total Packaging & Containers				2,969,730
Building Materials - 5.7%
Vulcan Materials Co.		2,968		669,106
Martin Marietta Materials, Inc.		1,422		656,523
Eagle Materials, Inc.		1,696		316,168
Louisiana-Pacific Corp.		3,716		278,626
Total Building Materials				1,920,423
Biotechnology - 2.2%
Corteva, Inc.		13,061		748,395
Coal - 1.7%
Teck Resources Ltd. — Class B		11,348		477,751
Alpha Metallurgical Resources, Inc.		614		100,917
Total Coal				578,668
Household Products & Housewares - 1.3%
Avery Dennison Corp.		2,602		447,024
Forest Products & Paper - 1.2%
International Paper Co.		12,283		390,722
Housewares - 0.6%
Scotts Miracle-Gro Co. — Class A		2,994		187,694
Healthcare-Services - 0.3%
Ginkgo Bioworks Holdings, Inc.*,1		49,876		92,769
Total Common Stocks
(Cost $21,436,770)				33,482,552
	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.7%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	136,616		136,616
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		60,104		60,104
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		54,640		54,640
Total Repurchase Agreements
(Cost $251,360)				251,360

Basic Materials Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
SECURITIES LENDING COLLATERAL†,3 - 1.2%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4	$	403,604	$	403,604
Total Securities Lending Collateral
(Cost $403,604)				403,604
Total Investments - 101.4%
(Cost $22,091,734)				34,137,516
Other Assets & Liabilities, net - (1.4)%				(485,134	)
Total Net Assets - 100.0%			$	33,652,382

^* Non-income producing security.

^† Value determined based on Level 1 inputs — See Note 3.

^†† Value determined based on Level 2 inputs — See Note 3.

¹ All or a portion of this security is on loan at June 30, 2023 — See Note 5.

² Repurchase Agreements — See Note 4.

³ Securities lending collateral — See Note 5.

⁴ Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	33,482,552	$	—	$	—	$	33,482,552
Repurchase Agreements		—		251,360		—		251,360
Securities Lending Collateral		403,604		—		—		403,604
Total Assets	$	33,886,156	$	251,360	$	—	$	34,137,516

Biotechnology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.6%
Biotechnology - 74.8%
Amgen, Inc.		29,499	$	6,549,368
Vertex Pharmaceuticals, Inc.*		16,666		5,864,932
Gilead Sciences, Inc.		75,975		5,855,393
Regeneron Pharmaceuticals, Inc.*		7,199		5,172,770
Corteva, Inc.		66,663		3,819,790
Moderna, Inc.*		31,051		3,772,697
Biogen, Inc.*		13,120		3,737,232
Seagen, Inc.*		16,188		3,115,543
Illumina, Inc.*		16,606		3,113,459
Horizon Therapeutics plc*		28,592		2,940,687
Alnylam Pharmaceuticals, Inc.*		14,947		2,839,033
BioMarin Pharmaceutical, Inc.*		26,921		2,333,512
Royalty Pharma plc — Class A		73,910		2,271,993
Incyte Corp.*		33,033		2,056,304
United Therapeutics Corp.*		8,560		1,889,620
Sarepta Therapeutics, Inc.*		15,938		1,825,220
Apellis Pharmaceuticals, Inc.*		20,032		1,824,915
BioNTech SE ADR*		14,099		1,521,705
Exelixis, Inc.*		76,691		1,465,565
Ionis Pharmaceuticals, Inc.*		34,525		1,416,561
IVERIC bio, Inc.*		35,862		1,410,811
Halozyme Therapeutics, Inc.*		37,128		1,339,207
Argenx SE ADR*		3,355		1,307,544
CRISPR Therapeutics AG*,1		23,220		1,303,571
Guardant Health, Inc.*		35,051		1,254,826
Arrowhead Pharmaceuticals, Inc.*		32,138		1,146,041
Amicus Therapeutics, Inc.*		89,393		1,122,776
Karuna Therapeutics, Inc.*		4,871		1,056,276
Insmed, Inc.*		49,711		1,048,902
TG Therapeutics, Inc.*		41,688		1,035,530
Denali Therapeutics, Inc.*		34,728		1,024,823
Intellia Therapeutics, Inc.*		24,796		1,011,181
ACADIA Pharmaceuticals, Inc.*		41,581		995,865
Cytokinetics, Inc.*		29,571		964,606
Vir Biotechnology, Inc.*		37,940		930,668
Blueprint Medicines Corp.*		14,374		908,437
Prothena Corporation plc*		13,156		898,292
PTC Therapeutics, Inc.*		21,214		862,773
Ultragenyx Pharmaceutical, Inc.*		16,857		777,614
Mirati Therapeutics, Inc.*		20,808		751,793
Twist Bioscience Corp.*,1		33,988		695,395
Beam Therapeutics, Inc.*		20,773		663,282
BioCryst Pharmaceuticals, Inc.*		87,758		617,816
Novavax, Inc.*,1		65,159		484,131
Total Biotechnology				86,998,459
Pharmaceuticals - 19.2%
AbbVie, Inc.		68,179		9,185,757
AstraZeneca plc ADR		43,539		3,116,086
Viatris, Inc.		213,872		2,134,442
Neurocrine Biosciences, Inc.*		19,244		1,814,709
Jazz Pharmaceuticals plc*		13,574		1,682,769
Alkermes plc*		48,792		1,527,190
Vaxcyte, Inc.*		20,773		1,037,404
Catalyst Pharmaceuticals, Inc.*		54,987		739,025
Ironwood Pharmaceuticals, Inc. — Class A*		64,765		689,099
Madrigal Pharmaceuticals, Inc.*		1,910		441,210
Total Pharmaceuticals				22,367,691
Healthcare-Products - 3.3%
Exact Sciences Corp.*		26,336		2,472,950
Natera, Inc.*		27,947		1,359,901
Total Healthcare-Products				3,832,851
Healthcare-Services - 2.3%
Medpace Holdings, Inc.*		5,659		1,359,122
Syneos Health, Inc.*		29,798		1,255,688
Total Healthcare-Services				2,614,810
Total Common Stocks
(Cost $59,101,821)				115,813,811

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	403,817	403,817
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		177,659	177,659
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		161,508	161,508
Total Repurchase Agreements
(Cost $742,984)			742,984

	Shares
SECURITIES LENDING COLLATERAL†,3 - 1.3%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4		1,568,762		1,568,762
Total Securities Lending Collateral
(Cost $1,568,762)				1,568,762
Total Investments - 101.5%
(Cost $61,413,567)			$	118,125,557
Other Assets & Liabilities, net - (1.5)%				(1,733,515	)
Total Net Assets - 100.0%			$	116,392,042

^* Non-income producing security.

^† Value determined based on Level 1 inputs — See Note 3.

^†† Value determined based on Level 2 inputs — See Note 3.

¹ All or a portion of this security is on loan at June 30, 2023 — See Note 5.

² Repurchase Agreements — See Note 4.

³ Securities lending collateral — See Note 5.

⁴ Rate indicated is the 7-day yield as of June 30, 2023.

Biotechnology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	115,813,811	$	—	$	—	$	115,813,811
Repurchase Agreements		—		742,984		—		742,984
Securities Lending Collateral		1,568,762		—		—		1,568,762
Total Assets	$	117,382,573	$	742,984	$	—	$	118,125,557

Consumer Products Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.8%
Food - 35.2%
Mondelez International, Inc. — Class A		37,861	$	2,761,581
Hershey Co.		7,821		1,952,904
General Mills, Inc.		23,440		1,797,848
Sysco Corp.		23,112		1,714,910
Kroger Co.		33,367		1,568,249
Kraft Heinz Co.		40,402		1,434,271
McCormick & Company, Inc.		15,138		1,320,488
Kellogg Co.		17,542		1,182,331
Tyson Foods, Inc. — Class A		23,089		1,178,463
Lamb Weston Holdings, Inc.		9,912		1,139,384
Conagra Brands, Inc.		32,710		1,102,981
J M Smucker Co.		7,233		1,068,097
Hormel Foods Corp.		23,257		935,397
Performance Food Group Co.*		14,574		877,938
US Foods Holding Corp.*		19,632		863,808
Campbell Soup Co.		18,244		833,933
Albertsons Companies, Inc. — Class A		33,397		728,723
Post Holdings, Inc.*		6,821		591,040
Flowers Foods, Inc.		23,211		577,490
Sprouts Farmers Market, Inc.*		15,344		563,585
Simply Good Foods Co.*		14,535		531,836
Hostess Brands, Inc.*		19,747		499,994
Grocery Outlet Holding Corp.*		15,604		477,638
Lancaster Colony Corp.		1,839		369,804
Cal-Maine Foods, Inc.		8,180		368,100
Hain Celestial Group, Inc.*		23,982		300,015
Beyond Meat, Inc.*,1		20,510		266,220
Pilgrim's Pride Corp.*		11,750		252,507
Total Food				27,259,535
Beverages - 28.1%
PepsiCo, Inc.		24,142		4,471,581
Coca-Cola Co.		70,457		4,242,921
Monster Beverage Corp.*		31,619		1,816,195
Constellation Brands, Inc. — Class A		7,142		1,757,860
Brown-Forman Corp. — Class B		23,730		1,584,689
Keurig Dr Pepper, Inc.		48,650		1,521,286
Coca-Cola Europacific Partners plc		19,342		1,246,205
Anheuser-Busch InBev S.A. ADR1		20,998		1,191,007
Fomento Economico Mexicano SAB de CV ADR		9,744		1,080,025
Molson Coors Beverage Co. — Class B		15,192		1,000,241
Celsius Holdings, Inc.*		5,463		815,025
Ambev S.A. ADR		219,832		699,066
Boston Beer Company, Inc. — Class A*		1,129		348,229
Total Beverages				21,774,330
Cosmetics & Personal Care - 14.7%
Procter & Gamble Co.		35,282		5,353,691
Estee Lauder Companies, Inc. — Class A		11,888		2,334,565
Colgate-Palmolive Co.		28,979		2,232,542
Unilever plc ADR		22,066		1,150,301
Beauty Health Co.*		27,568		230,744
Olaplex Holdings, Inc.*		31,909		118,701
Total Cosmetics & Personal Care				11,420,544
Agriculture - 14.2%
Philip Morris International, Inc.		36,052		3,519,396
Altria Group, Inc.		55,105		2,496,256
Archer-Daniels-Midland Co.		24,203		1,828,779
British American Tobacco plc ADR		35,785		1,188,062
Bunge Ltd.		11,316		1,067,665
Darling Ingredients, Inc.*		13,971		891,210
Total Agriculture				10,991,368
Household Products & Housewares - 5.9%
Kimberly-Clark Corp.		13,902		1,919,310
Church & Dwight Company, Inc.		14,123		1,415,548
Clorox Co.		7,790		1,238,922
Total Household Products & Housewares				4,573,780
Retail - 1.7%
Casey's General Stores, Inc.		3,594		876,505
Freshpet, Inc.*		6,188		407,232
Total Retail				1,283,737
Total Common Stocks
(Cost $40,307,368)				77,303,294
SECURITIES LENDING COLLATERAL†,2 - 1.2%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%3		918,181		918,181
Total Securities Lending Collateral
(Cost $918,181)				918,181
Total Investments - 101.0%
(Cost $41,225,549)			$	78,221,475
Other Assets & Liabilities, net - (1.0)%				(750,933	)
Total Net Assets - 100.0%			$	77,470,542

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Securities lending collateral — See Note 5.
3	Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

Consumer Products Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	77,303,294	$	—	$	—	$	77,303,294
Securities Lending Collateral		918,181		—		—		918,181
Total Assets	$	78,221,475	$	—	$	—	$	78,221,475

Dow Jones Industrial Average® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 93.8%
Consumer, Non-cyclical - 21.5%
UnitedHealth Group, Inc.		4,728	$	2,272,466
Amgen, Inc.		4,728		1,049,711
Johnson & Johnson		4,728		782,578
Procter & Gamble Co.		4,728		717,427
Merck & Company, Inc.		4,728		545,564
Coca-Cola Co.		4,728		284,720
Total Consumer, Non-cyclical				5,652,466
Financial - 18.9%
Goldman Sachs Group, Inc.		4,728		1,524,969
Visa, Inc. — Class A		4,728		1,122,805
American Express Co.		4,728		823,618
Travelers Companies, Inc.		4,728		821,065
JPMorgan Chase & Co.		4,728		687,640
Total Financial				4,980,097
Technology - 16.4%
Microsoft Corp.		4,728		1,610,073
Salesforce, Inc.*		4,728		998,838
Apple, Inc.		4,728		917,090
International Business Machines Corp.		4,728		632,654
Intel Corp.		4,728		158,104
Total Technology				4,316,759
Consumer, Cyclical - 16.3%
Home Depot, Inc.		4,728		1,468,706
McDonald's Corp.		4,728		1,410,882
Walmart, Inc.		4,728		743,147
NIKE, Inc. — Class B		4,728		521,829
Walgreens Boots Alliance, Inc.		4,728		134,701
Total Consumer, Cyclical				4,279,265
Industrial - 13.7%
Caterpillar, Inc.		4,728		1,163,324
Boeing Co.*		4,728		998,364
Honeywell International, Inc.		4,728		981,060
3M Co.		4,728		473,226
Total Industrial				3,615,974
Communications - 3.2%
Walt Disney Co.*		4,728		422,116
Cisco Systems, Inc.		4,728		244,627
Verizon Communications, Inc.		4,728		175,834
Total Communications				842,577
Energy - 2.8%
Chevron Corp.		4,728		743,951
Basic Materials - 1.0%
Dow, Inc.		4,728		251,813
Total Common Stocks
(Cost $20,859,094)				24,682,902
MUTUAL FUNDS† - 4.8%
Guggenheim Ultra Short Duration Fund — Institutional Class1		67,906		660,729
Guggenheim Strategy Fund II1		24,698		598,194
Total Mutual Funds
(Cost $1,285,414)				1,258,923

		Face Amount
U.S. TREASURY BILLS†† - 1.5%
U.S. Treasury Bills
5.01% due 08/03/232,3	$	300,000		298,679
5.05% due 08/03/232,3		50,000		49,780
5.11% due 07/18/233		49,000		48,897
Total U.S. Treasury Bills
(Cost $397,271)				397,356
REPURCHASE AGREEMENTS††,4 - 3.1%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/232		441,951		441,951
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/232		194,436		194,436
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/232		176,760		176,760
Total Repurchase Agreements
(Cost $813,147)				813,147
Total Investments - 103.2%
(Cost $23,354,926)			$	27,152,328
Other Assets & Liabilities, net - (3.2)%				(853,518	)
Total Net Assets - 100.0%			$	26,298,810

Total Return Swap Agreements
Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements††
Barclays Bank plc	Dow Jones Industrial Average Index	Pay	5.56% (SOFR + 0.50%)	At Maturity	09/20/23		35	$	1,196,473	$	24,095

Dow Jones Industrial Average® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Equity Index Swap Agreements†† (continued)

BNP Paribas

Dow Jones Industrial Average Index

Pay

5.62% (Federal Funds Rate + 0.55%)

At Maturity

09/21/23

12

$

409,801

$

5,730

$

1,606,274

$

29,825

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.
3	Rate indicated is the effective yield at the time of purchase.
4	Repurchase Agreements — See Note 4.

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	24,682,902	$	—	$	—	$	24,682,902
Mutual Funds		1,258,923		—		—		1,258,923
U.S. Treasury Bills		—		397,356		—		397,356
Repurchase Agreements		—		813,147		—		813,147
Equity Index Swap Agreements**		—		29,825		—		29,825
Total Assets	$	25,941,825	$	1,240,328	$	—	$	27,182,153

^** This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:
Security Name	Value 03/31/23		Additions		Reductions			Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	897,823	$	–	$	(300,000	)	$	(7,060	)	$	7,431	$	598,194		24,698	$	12,203
Guggenheim Ultra Short Duration Fund — Institutional Class		958,754		–		(300,000	)		(5,796	)		7,771		660,729		67,906		12,822
	$	1,856,577	$	–	$	(600,000	)	$	(12,856	)	$	15,202	$	1,258,923			$	25,025

Electronics Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.3%
Semiconductors - 93.8%
NVIDIA Corp.		27,422	$	11,600,054
Broadcom, Inc.		7,748		6,720,848
Texas Instruments, Inc.		25,226		4,541,185
Advanced Micro Devices, Inc.*		39,669		4,518,696
Intel Corp.		127,495		4,263,433
QUALCOMM, Inc.		34,072		4,055,931
Applied Materials, Inc.		27,154		3,924,839
Analog Devices, Inc.		18,210		3,547,490
Lam Research Corp.		5,124		3,294,015
KLA Corp.		5,891		2,857,253
Micron Technology, Inc.		44,944		2,836,416
Microchip Technology, Inc.		28,332		2,538,264
Marvell Technology, Inc.		41,257		2,466,343
ON Semiconductor Corp.*		23,976		2,267,650
NXP Semiconductor N.V.		10,997		2,250,866
ASML Holding N.V. — Class G		2,749		1,992,338
Taiwan Semiconductor Manufacturing Company Ltd. ADR		18,433		1,860,258
Monolithic Power Systems, Inc.		3,312		1,789,242
Skyworks Solutions, Inc.		13,497		1,493,983
Teradyne, Inc.		13,291		1,479,687
Entegris, Inc.		12,666		1,403,646
Lattice Semiconductor Corp.*		14,121		1,356,605
STMicroelectronics N.V. — Class Y1		22,887		1,144,121
Qorvo, Inc.*		10,908		1,112,943
MKS Instruments, Inc.		8,900		962,090
Wolfspeed, Inc.*		16,933		941,305
United Microelectronics Corp. ADR1		114,641		904,518
Rambus, Inc.*		14,023		899,856
Axcelis Technologies, Inc.*		4,695		860,734
ASE Technology Holding Company Ltd. ADR		108,196		842,847
GLOBALFOUNDRIES, Inc.*,1		12,934		835,278
Power Integrations, Inc.		8,560		810,375
Silicon Laboratories, Inc.*		4,972		784,283
Cirrus Logic, Inc.*		9,239		748,451
MACOM Technology Solutions Holdings, Inc.*		10,346		677,973
Allegro MicroSystems, Inc.*		14,603		659,179
Synaptics, Inc.*		7,543		644,021
Amkor Technology, Inc.		21,316		634,151
Ambarella, Inc.*		7,453		623,593
Semtech Corp.*		18,495		470,883
Impinj, Inc.*		4,633		415,348
Total Semiconductors				88,030,991
Energy-Alternate Sources - 4.6%
Enphase Energy, Inc.*		9,453		1,583,188
First Solar, Inc.*		8,034		1,527,183
SolarEdge Technologies, Inc.*		4,490		1,208,035
Total Energy-Alternate Sources				4,318,406
Electrical Components & Equipment - 0.9%
Universal Display Corp.		5,927		854,259
Total Common Stocks
(Cost $59,864,075)				93,203,656

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.9%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	435,166	435,166
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		191,451	191,451
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		174,046	174,046
Total Repurchase Agreements
(Cost $800,663)			800,663

	Shares
SECURITIES LENDING COLLATERAL†,3 - 1.0%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4		965,466		965,466
Total Securities Lending Collateral
(Cost $965,466)				965,466
Total Investments - 101.2%
(Cost $61,630,204)			$	94,969,785
Other Assets & Liabilities, net - (1.2)%				(1,094,893	)
Total Net Assets - 100.0%			$	93,874,892

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt 

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Electronics Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	93,203,656	$	—	$	—	$	93,203,656
Repurchase Agreements		—		800,663		—		800,663
Securities Lending Collateral		965,466		—		—		965,466
Total Assets	$	94,169,122	$	800,663	$	—	$	94,969,785

Emerging Markets 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 53.1%
Technology - 16.8%
Taiwan Semiconductor Manufacturing Company Ltd. ADR		7,781	$	785,258
Infosys Ltd. ADR		10,681		171,644
NetEase, Inc. ADR		1,084		104,812
United Microelectronics Corp. ADR1		6,883		54,307
ASE Technology Holding Company Ltd. ADR		5,047		39,316
Wipro Ltd. ADR		4,385		20,697
Total Technology				1,176,034
Communications - 15.2%
Alibaba Group Holding Ltd. ADR*		5,720		476,762
JD.com, Inc. ADR		3,637		124,131
Baidu, Inc. ADR*		839		114,867
PDD Holdings, Inc. ADR*		1,609		111,246
America Movil SAB de CV ADR		3,086		66,781
Trip.com Group Ltd. ADR*		1,576		55,160
Chunghwa Telecom Company Ltd. ADR		1,125		41,951
Telkom Indonesia Persero Tbk PT ADR		1,407		37,525
Vipshop Holdings Ltd. ADR*		977		16,121
Tencent Music Entertainment Group ADR*		1,855		13,690
Bilibili, Inc. ADR*,1		716		10,812
Total Communications				1,069,046
Financial - 9.3%
HDFC Bank Ltd. ADR		4,079		284,306
ICICI Bank Ltd. ADR		7,650		176,562
Banco Bradesco S.A. ADR		15,717		54,381
KB Financial Group, Inc. ADR		1,122		40,841
Shinhan Financial Group Company Ltd. ADR		1,495		38,960
KE Holdings, Inc. ADR*		2,005		29,774
Woori Financial Group, Inc. ADR1		639		17,221
Banco de Chile ADR		643		13,477
Total Financial				655,522
Basic Materials - 5.3%
Vale S.A. ADR		10,744		144,185
POSCO Holdings, Inc. ADR		871		64,410
Gold Fields Ltd. ADR		2,644		36,566
Sociedad Quimica y Minera de Chile S.A. ADR		423		30,718
AngloGold Ashanti Ltd. ADR		1,241		26,173
Sasol Ltd. ADR		1,727		21,380
Suzano S.A. ADR1		2,273		20,957
Gerdau S.A. ADR		3,217		16,793
Sibanye Stillwater Ltd. ADR		2,094		13,067
Total Basic Materials				374,249
Consumer, Non-cyclical - 2.7%
Fomento Economico Mexicano SAB de CV ADR		544		60,297
Ambev S.A. ADR		13,052		41,505
BeiGene Ltd. ADR*		195		34,769
Dr Reddy's Laboratories Ltd. ADR		360		22,720
New Oriental Education & Technology Group, Inc. ADR*		443		17,494
Coca-Cola Femsa SAB de CV ADR		155		12,913
Total Consumer, Non-cyclical				189,698
Industrial - 1.4%
Cemex SAB de CV ADR*		4,479		31,711
ZTO Express Cayman, Inc. ADR		1,231		30,873
Grupo Aeroportuario del Pacifico SAB de CV ADR		111		19,838
Grupo Aeroportuario del Sureste SAB de CV ADR		56		15,551
Total Industrial				97,973
Energy - 1.1%
Petroleo Brasileiro S.A. ADR		5,506		76,148
Consumer, Cyclical - 0.8%
NIO, Inc. ADR*		4,203		40,727
H World Group Ltd. ADR*		415		16,094
Total Consumer, Cyclical				56,821
Utilities - 0.5%
Centrais Eletricas Brasileiras S.A. ADR1		3,768		31,161
Total Common Stocks
(Cost $3,423,103)				3,726,652
PREFERRED STOCKS† - 2.4%
Financial - 1.2%
Itau Unibanco Holding S.A. ADR		14,338		84,594
Energy - 1.2%
Petroleo Brasileiro S.A. ADR		6,797		84,079
Total Preferred Stocks
(Cost $148,416)				168,673
		Face Amount
REPURCHASE AGREEMENTS††,2 - 25.7%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/233	$	981,969		981,969
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/233		432,017		432,017
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/233		392,743		392,743
Total Repurchase Agreements
(Cost $1,806,729)				1,806,729

Emerging Markets 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
SECURITIES LENDING COLLATERAL†,4 - 0.4%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%5	28,029	$	28,029
Total Securities Lending Collateral
(Cost $28,029)			28,029
Total Investments - 81.6%
(Cost $5,406,277)		$	5,730,083
Other Assets & Liabilities, net - 18.4%			1,295,452
Total Net Assets - 100.0%		$	7,025,535

Total Return Swap Agreements

Counterparty	Index	Type		Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements††
BNP Paribas	S&P Emerging 50 ADR Index		Pay	5.67% (Federal Funds Rate + 0.60%)	At Maturity	09/21/23		681	$	1,756,045	$	(28,185	)
Goldman Sachs International	S&P Emerging 50 ADR Index		Pay	5.32% (Federal Funds Rate + 0.25%)	At Maturity	09/21/23		3,284		8,464,229		(52,097	)
									$	10,220,274	$	(80,282	)

^* Non-income producing security.

^† Value determined based on Level 1 inputs — See Note 3.

^†† Value determined based on Level 2 inputs — See Note 3.

¹ All or a portion of this security is on loan at June 30, 2023 — See Note 5.

² Repurchase Agreements — See Note 4.

³ All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.

⁴ Securities lending collateral — See Note 5.

⁵ Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	3,726,652	$	—	$	—	$	3,726,652
Preferred Stocks		168,673		—		—		168,673
Repurchase Agreements		—		1,806,729		—		1,806,729
Securities Lending Collateral		28,029		—		—		28,029
Total Assets	$	3,923,354	$	1,806,729	$	—	$	5,730,083

Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Index Swap Agreements**	$	—	$	80,282	$	—	$	80,282

^** This derivative is reported as unrealized appreciation/depreciation at period end.

Emerging Markets Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Face Amount		Value
U.S. TREASURY BILLS†† - 19.5%
U.S. Treasury Bills
5.11% due 07/18/231,2	$	83,000	$	82,826
Total U.S. Treasury Bills
(Cost $82,796)				82,826
REPURCHASE AGREEMENTS††,3 - 69.1%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/234		159,615		159,615
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/234		70,222		70,222
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/234		63,839		63,839
Total Repurchase Agreements
(Cost $293,676)				293,676
Total Investments - 88.6%
(Cost $376,472)			$	376,502
Other Assets & Liabilities, net - 11.4%				48,370
Total Net Assets - 100.0%			$	424,872

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Interest Rate Futures Contracts Purchased†
U.S. Treasury 5 Year Note Futures Contracts		3	Sep 2023	$	321,398	$	(2,404	)

Centrally Cleared Credit Default Swap Agreements Protection Sold^††

Counterparty	Exchange	Index	Protection Premium Rate		Payment Frequency	Maturity Date	Notional Amount		Value			Upfront Premiums Received			Unrealized Appreciation**
Barclays Bank plc	ICE	CDX.EM.39.V1	1.00	%	Quarterly	06/20/28	$	360,000	$	(17,189	)	$	(21,423	)	$	4,234

Total Return Swap Agreements

Counterparty	Reference Obligation	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Credit Index Swap Agreements††
Goldman Sachs International	Invesco Emerging Markets Sovereign Debt ETF	Pay	5.67% (Federal Funds Rate + 0.60%)	At Maturity	07/27/23		7,398	$	144,187	$	666

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is pledged as futures collateral at June 30, 2023.
2	Rate indicated is the effective yield at the time of purchase.
3	Repurchase Agreements — See Note 4.
4	All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.

Emerging Markets Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

CDX.EM.39.V1 — Credit Default Swap Emerging Markets Series 39 Index Version 1

ICE — Intercontinental Exchange

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
U.S. Treasury Bills	$	—	$	82,826	$	—	$	82,826
Repurchase Agreements		—		293,676		—		293,676
Credit Default Swap Agreements**		—		4,234		—		4,234
Credit Index Swap Agreements**		—		666		—		666
Total Assets	$	—	$	381,402	$	—	$	381,402

Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Interest Rate Futures Contracts**	$	2,404	$	—	$	—	$	2,404

** This derivative is reported as unrealized appreciation/depreciation at period end.

Energy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.7%
Oil & Gas - 66.8%
Exxon Mobil Corp.		17,268	$	1,851,993
Chevron Corp.		9,485		1,492,465
ConocoPhillips		9,691		1,004,085
EOG Resources, Inc.		6,409		733,446
Marathon Petroleum Corp.		5,565		648,879
Pioneer Natural Resources Co.		2,985		618,432
Valero Energy Corp.		5,124		601,045
Phillips 66		6,119		583,630
Occidental Petroleum Corp.		9,543		561,128
Hess Corp.		4,049		550,462
BP plc ADR		14,617		515,834
Devon Energy Corp.		10,181		492,150
Diamondback Energy, Inc.		3,295		432,831
Shell plc ADR		6,650		401,527
Coterra Energy, Inc. — Class A		15,524		392,757
Petroleo Brasileiro S.A. ADR		25,979		359,290
Equities Corp.		8,654		355,939
Marathon Oil Corp.		14,397		331,419
Chesapeake Energy Corp.		3,566		298,403
APA Corp.		8,523		291,231
Suncor Energy, Inc.		9,910		290,561
Ovintiv, Inc.		7,177		273,228
Canadian Natural Resources Ltd.		4,655		261,890
Cenovus Energy, Inc.		14,307		242,933
Equinor ASA ADR		8,243		240,778
Range Resources Corp.		8,098		238,081
Antero Resources Corp.*		10,148		233,708
Southwestern Energy Co.*		38,784		233,092
HF Sinclair Corp.		5,066		225,994
PDC Energy, Inc.		3,106		220,961
Matador Resources Co.		4,175		218,436
Murphy Oil Corp.		5,554		212,718
Civitas Resources, Inc.		2,999		208,041
Transocean Ltd.*		28,883		202,470
Permian Resources Corp.		18,057		197,905
Noble Corporation plc*		4,677		193,207
PBF Energy, Inc. — Class A		4,685		191,804
Chord Energy Corp.		1,198		184,252
Magnolia Oil & Gas Corp. — Class A		8,778		183,460
SM Energy Co.		5,702		180,354
Valaris Ltd.*		2,771		174,379
Denbury, Inc.*		2,015		173,814
Weatherford International plc*		2,615		173,688
Helmerich & Payne, Inc.		4,570		162,007
CNX Resources Corp.*		8,764		155,298
Northern Oil and Gas, Inc.		4,438		152,312
Patterson-UTI Energy, Inc.		11,818		141,461
Kosmos Energy Ltd.*		23,120		138,489
Callon Petroleum Co.*		3,797		133,161
Delek US Holdings, Inc.		4,647		111,296
Comstock Resources, Inc.		8,451		98,032
Total Oil & Gas				18,564,756
Pipelines - 12.3%
Williams Companies, Inc.		17,695		577,388
Cheniere Energy, Inc.		3,599		548,344
Kinder Morgan, Inc.		30,374		523,040
ONEOK, Inc.		7,733		477,281
Targa Resources Corp.		5,008		381,109
Enbridge, Inc.		7,385		274,353
TC Energy Corp.		5,162		208,596
Equitrans Midstream Corp.		18,827		179,986
Golar LNG Ltd.		7,470		150,670
New Fortress Energy, Inc.		4,161		111,431
Total Pipelines				3,432,198
Oil & Gas Services - 9.2%
Schlumberger N.V.		15,447		758,757
Baker Hughes Co.		16,314		515,685
Halliburton Co.		14,315		472,252
ChampionX Corp.		7,500		232,800
TechnipFMC plc*		13,715		227,943
NOV, Inc.		14,025		224,961
Liberty Energy, Inc. — Class A		9,625		128,686
Total Oil & Gas Services				2,561,084
Energy-Alternate Sources - 6.4%
SolarEdge Technologies, Inc.*		1,669		449,044
Enphase Energy, Inc.*		2,437		408,149
First Solar, Inc.*		2,072		393,867
Plug Power, Inc.*,1		22,424		232,985
Sunrun, Inc.*		9,375		167,438
Green Plains, Inc.*		3,852		124,188
Total Energy-Alternate Sources				1,775,671
Transportation - 1.3%
Scorpio Tankers, Inc.		4,183		197,563
Frontline plc		12,018		174,621
Total Transportation				372,184
Coal - 1.3%
Peabody Energy Corp.		7,097		153,721
CONSOL Energy, Inc.		1,817		123,211
Arch Resources, Inc.		721		81,300
Total Coal				358,232
Mining - 0.9%
Cameco Corp.		8,070		252,833
Metal Fabricate & Hardware - 0.8%
Tenaris S.A. ADR		6,982		209,111
Retail - 0.7%
Murphy USA, Inc.		587		182,622
Total Common Stocks
(Cost $13,702,343)				27,708,691

		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.5%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	69,025	69,025
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		30,368	30,368
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		27,607	27,607
Total Repurchase Agreements
(Cost $127,000)			127,000

Energy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
SECURITIES LENDING COLLATERAL†,3 - 0.6%
Money Market Fund
First American Government Obligations Fund — Class X, 5.01%4	173,656	$	173,656
Total Securities Lending Collateral
(Cost $173,656)			173,656
Total Investments - 100.8%
(Cost $14,002,999)		$	28,009,347
Other Assets & Liabilities, net - (0.8)%			(214,423	)
Total Net Assets - 100.0%		$	27,794,924

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	27,708,691	$	—	$	—	$	27,708,691
Repurchase Agreements		—		127,000		—		127,000
Securities Lending Collateral		173,656		—		—		173,656
Total Assets	$	27,882,347	$	127,000	$	—	$	28,009,347

Energy Services Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.9%
Oil & Gas Services - 69.6%
Schlumberger N.V.		98,557	$	4,841,120
Baker Hughes Co.		104,081		3,290,000
Halliburton Co.		91,336		3,013,175
ChampionX Corp.		47,848		1,485,202
NOV, Inc.		89,471		1,435,115
TechnipFMC plc*		77,090		1,281,236
Tidewater, Inc.*		17,381		963,603
Liberty Energy, Inc. — Class A		61,400		820,918
Oceaneering International, Inc.*		41,623		778,350
NexTier Oilfield Solutions, Inc.*		86,693		775,035
Archrock, Inc.		69,856		716,024
Expro Group Holdings N.V.*		38,206		677,010
Helix Energy Solutions Group, Inc.*		78,453		578,983
ProPetro Holding Corp.*		63,474		523,026
US Silica Holdings, Inc.*		42,299		513,087
Core Laboratories, Inc.		19,924		463,233
RPC, Inc.		64,213		459,123
ProFrac Holding Corp. — Class A*		25,991		290,060
Nine Energy Service, Inc.*,1		26,403		101,123
Total Oil & Gas Services				23,005,423
Oil & Gas - 23.6%
Transocean Ltd.*		184,267		1,291,712
Weatherford International plc*		18,809		1,249,294
Noble Corporation plc*		29,840		1,232,690
Valaris Ltd.*		17,677		1,112,413
Helmerich & Payne, Inc.		29,155		1,033,545
Patterson-UTI Energy, Inc.		75,389		902,406
Diamond Offshore Drilling, Inc.*		51,092		727,550
Nabors Industries Ltd.*		2,826		262,903
Total Oil & Gas				7,812,513
Metal Fabricate & Hardware - 3.5%
Tenaris S.A. ADR		39,006		1,168,230
Machinery-Diversified - 3.2%
Cactus, Inc. — Class A		24,798		1,049,451
Total Common Stocks
(Cost $26,968,576)				33,035,617
		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.7%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	124,601		124,601
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		54,818		54,818
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		49,835		49,835
Total Repurchase Agreements
(Cost $229,254)				229,254
		Shares
SECURITIES LENDING COLLATERAL†,3 - 0.2%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4		69,750		69,750
Total Securities Lending Collateral
(Cost $69,750)				69,750
Total Investments - 100.8%
(Cost $27,267,580)			$	33,334,621
Other Assets & Liabilities, net - (0.8)%				(261,766	)
Total Net Assets - 100.0%			$	33,072,855

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	33,035,617	$	—	$	—	$	33,035,617
Repurchase Agreements		—		229,254		—		229,254
Securities Lending Collateral		69,750		—		—		69,750
Total Assets	$	33,105,367	$	229,254	$	—	$	33,334,621

Europe 1.25x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 44.1%
Consumer, Non-cyclical - 18.1%
Nestle S.A. ADR		477	$	57,407
Novo Nordisk A/S ADR		289		46,769
AstraZeneca plc ADR		554		39,650
Roche Holding AG ADR		1,004		38,353
Novartis AG ADR		373		37,639
Unilever plc ADR		471		24,553
Sanofi ADR		410		22,099
L'Oreal S.A. ADR		217		20,251
Diageo plc ADR		99		17,175
GSK plc ADR		366		13,044
British American Tobacco plc ADR		365		12,118
RELX plc ADR		347		11,600
EssilorLuxottica S.A. ADR		108		10,189
Reckitt Benckiser Group plc ADR		653		9,919
Bayer AG ADR		703		9,715
Anheuser-Busch InBev S.A. ADR1		160		9,075
Adyen N.V. ADR*		513		8,870
Total Consumer, Non-cyclical				388,426
Financial - 4.8%
HSBC Holdings plc ADR1		723		28,645
Allianz SE ADR		723		16,788
BNP Paribas S.A. ADR		417		13,194
Zurich Insurance Group AG ADR		269		12,769
UBS Group AG		546		11,067
Banco Santander S.A. ADR		2,960		10,982
AXA S.A. ADR		346		10,242
Total Financial				103,687
Industrial - 4.6%
Siemens AG ADR		268		22,354
Schneider Electric SE ADR		511		18,580
Airbus SE ADR		420		15,179
Vinci S.A. ADR		423		12,292
ABB Ltd. ADR		285		11,186
Safran S.A. ADR		272		10,673
DHL Group ADR		176		8,626
Total Industrial				98,890
Consumer, Cyclical - 4.3%
LVMH Moet Hennessy Louis Vuitton SE ADR		232		43,811
Cie Financiere Richemont S.A. ADR		937		15,891
Hermes International ADR1		63		13,709
Mercedes-Benz Group AG ADR1		573		11,506
Kering S.A. ADR1		129		7,140
Total Consumer, Cyclical				92,057
Energy - 3.8%
Shell plc ADR		608		36,711
TotalEnergies SE ADR		445		25,650
BP plc ADR		521		18,386
Total Energy				80,747
Technology - 3.7%
ASML Holding N.V. — Class G		72		52,182
SAP SE ADR		194		26,541
Total Technology				78,723
Basic Materials - 2.2%
Air Liquide S.A. ADR		469		16,847
Rio Tinto plc ADR		192		12,258
Glencore plc ADR		920		10,359
BASF SE ADR		637		7,720
Total Basic Materials				47,184
Utilities - 1.5%
Iberdrola S.A. ADR		263		13,747
Enel SpA ADR1		1,397		9,346
National Grid plc ADR		130		8,753
Total Utilities				31,846
Communications - 1.1%
Deutsche Telekom AG ADR		621		13,569
Prosus N.V. ADR		622		9,143
Total Communications				22,712
Total Common Stocks
(Cost $787,864)				944,272
MUTUAL FUNDS† - 6.3%
Guggenheim Ultra Short Duration Fund — Institutional Class2		7,027		68,374
Guggenheim Strategy Fund II2		2,760		66,858
Total Mutual Funds
(Cost $138,226)				135,232
	Face Amount
U.S. TREASURY BILLS†† - 29.2%
U.S. Treasury Bills
5.11% due 07/18/233,4	$	628,000		626,686
Total U.S. Treasury Bills
(Cost $626,458)				626,686
REPURCHASE AGREEMENTS††,5 - 188.9%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23		2,200,003		2,200,003
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		967,891		967,891
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		879,900		879,900
Total Repurchase Agreements
(Cost $4,047,794)				4,047,794
		Shares
SECURITIES LENDING COLLATERAL†,6 - 5.8%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%7		123,773		123,773
Total Securities Lending Collateral
(Cost $123,773)				123,773
Total Investments - 274.3%
(Cost $5,724,115)			$	5,877,757
Other Assets & Liabilities, net - (174.3)%				(3,735,228	)
Total Net Assets - 100.0%			$	2,142,529

Europe 1.25x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
STOXX 50 Index Futures Contracts		37	Sep 2023	$	1,625,464	$	24,077
Currency Futures Contracts Purchased†
Euro FX Futures Contracts		12	Sep 2023		1,643,250		774

^*  Non-income producing security.

^**  Includes cumulative appreciation (depreciation).

^†  Value determined based on Level 1 inputs — See Note 3.

^††  Value determined based on Level 2 inputs — See Note 3.

¹  All or a portion of this security is on loan at June 30, 2023 — See Note 5.

²  Affiliated issuer.

³  All or a portion of this security is pledged as futures collateral at June 30, 2023.

⁴  Rate indicated is the effective yield at the time of purchase.

⁵  Repurchase Agreements — See Note 4.

⁶  Securities lending collateral — See Note 5.

⁷  Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	944,272	$	—	$	—	$	944,272
Mutual Funds		135,232		—		—		135,232
U.S. Treasury Bills		—		626,686		—		626,686
Repurchase Agreements		—		4,047,794		—		4,047,794
Securities Lending Collateral		123,773		—		—		123,773
Equity Futures Contracts**		24,077		—		—		24,077
Currency Futures Contracts**		774		—		—		774
Total Assets	$	1,228,128	$	4,674,480	$	—	$	5,902,608

** This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Europe 1.25x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:
Security Name	Value 03/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	66,830	$	–	$	–	$	–	$	28	$	66,858		2,760	$	908
Guggenheim Ultra Short Duration Fund — Institutional Class		68,233		–		–		–		141		68,374		7,027		913
	$	135,063	$	–	$	–	$	–	$	169	$	135,232			$	1,821

Financial Services Fund

SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.0%
Banks - 23.0%
JPMorgan Chase & Co.		1,150	$	167,256
Bank of America Corp.		3,914		112,293
Wells Fargo & Co.		2,404		102,603
Goldman Sachs Group, Inc.		259		83,538
Morgan Stanley		972		83,009
Citigroup, Inc.		1,587		73,065
U.S. Bancorp		1,713		56,598
PNC Financial Services Group, Inc.		445		56,048
Truist Financial Corp.		1,606		48,742
Bank of New York Mellon Corp.		1,050		46,746
Toronto-Dominion Bank		701		43,469
ICICI Bank Ltd. ADR		1,822		42,052
HDFC Bank Ltd. ADR		572		39,868
NU Holdings Limited/Cayman Islands — Class A*		5,048		39,829
Royal Bank of Canada		410		39,159
State Street Corp.		522		38,200
Bank of Nova Scotia		741		37,080
HSBC Holdings plc ADR1		929		36,807
M&T Bank Corp.		287		35,519
Fifth Third Bancorp		1,268		33,234
Regions Financial Corp.		1,795		31,987
Huntington Bancshares, Inc.		2,858		30,809
Northern Trust Corp.		415		30,768
Popular, Inc.		459		27,779
Citizens Financial Group, Inc.		1,018		26,549
East West Bancorp, Inc.		410		21,644
KeyCorp		2,325		21,483
First Horizon Corp.		1,713		19,305
Comerica, Inc.		439		18,596
Bank OZK		419		16,827
Old National Bancorp		1,166		16,254
Zions Bancorp North America1		541		14,531
Valley National Bancorp		1,810		14,027
Pinnacle Financial Partners, Inc.		204		11,557
First Citizens BancShares, Inc. — Class A		9		11,551
PacWest Bancorp1		878		7,156
Total Banks				1,535,938
REITS - 21.7%
Prologis, Inc.		687		84,247
American Tower Corp. — Class A		396		76,800
Equinix, Inc.		89		69,771
Crown Castle, Inc.		494		56,286
Public Storage		187		54,581
Welltower, Inc.		629		50,880
Realty Income Corp.		838		50,104
Simon Property Group, Inc.		427		49,310
Digital Realty Trust, Inc.		429		48,850
VICI Properties, Inc.		1,413		44,410
Weyerhaeuser Co.		1,262		42,290
AvalonBay Communities, Inc.		219		41,450
SBA Communications Corp.		174		40,326
Equity Residential		600		39,582
Invitation Homes, Inc.		1,059		36,430
Extra Space Storage, Inc.		241		35,873
Ventas, Inc.		748		35,358
Alexandria Real Estate Equities, Inc.		302		34,274
Mid-America Apartment Communities, Inc.		220		33,409
Iron Mountain, Inc.		576		32,728
Sun Communities, Inc.		245		31,963
Essex Property Trust, Inc.		133		31,162
UDR, Inc.		706		30,330
Kimco Realty Corp.		1,418		27,963
Gaming and Leisure Properties, Inc.		567		27,477
Life Storage, Inc.		205		27,257
Camden Property Trust		246		26,782
Host Hotels & Resorts, Inc.		1,587		26,709
American Homes 4 Rent — Class A		753		26,694
Regency Centers Corp.		432		26,685
Rexford Industrial Realty, Inc.		505		26,371
Lamar Advertising Co. — Class A		263		26,103
Healthpeak Properties, Inc.		1,296		26,050
CubeSmart		566		25,277
Annaly Capital Management, Inc.		1,256		25,132
Boston Properties, Inc.		412		23,727
AGNC Investment Corp.		1,968		19,936
Medical Properties Trust, Inc.1		2,022		18,724
Vornado Realty Trust		862		15,637
Total REITS				1,446,938
Diversified Financial Services - 20.9%
Visa, Inc. — Class A		774		183,809
Mastercard, Inc. — Class A		382		150,241
American Express Co.		449		78,216
BlackRock, Inc. — Class A		111		76,716
Charles Schwab Corp.		1,337		75,781
CME Group, Inc. — Class A		351		65,037
Intercontinental Exchange, Inc.		571		64,569
Capital One Financial Corp.		459		50,201
Ameriprise Financial, Inc.		146		48,495
Interactive Brokers Group, Inc. — Class A		570		47,350
Apollo Global Management, Inc.		586		45,011
Discover Financial Services		376		43,936
XP, Inc. — Class A*,1		1,820		42,697
T. Rowe Price Group, Inc.		351		39,319
Raymond James Financial, Inc.		359		37,253
LPL Financial Holdings, Inc.		155		33,702
Coinbase Global, Inc. — Class A*,1		467		33,414
Nasdaq, Inc.		665		33,150
Tradeweb Markets, Inc. — Class A		466		31,912
Cboe Global Markets, Inc.		223		30,776
Synchrony Financial		900		30,528
Invesco Ltd.		1,353		22,744
Franklin Resources, Inc.		845		22,570
Voya Financial, Inc.		295		21,154
Ally Financial, Inc.		778		21,014
SoFi Technologies, Inc.*		2,491		20,775
Western Union Co.		1,423		16,692
SLM Corp.		945		15,422
Upstart Holdings, Inc.*,1		378		13,536
Total Diversified Financial Services				1,396,020

Financial Services Fund

SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.0% (continued)
Insurance - 18.3%
Berkshire Hathaway, Inc. — Class B*		642	$	218,922
Marsh & McLennan Companies, Inc.		425		79,934
Progressive Corp.		535		70,818
Aon plc — Class A		200		69,040
Arch Capital Group Ltd.*		793		59,356
Willis Towers Watson plc		247		58,168
Arthur J Gallagher & Co.		258		56,649
Chubb Ltd.		278		53,532
American International Group, Inc.		911		52,419
Travelers Companies, Inc.		291		50,535
Aflac, Inc.		721		50,326
MetLife, Inc.		841		47,542
Prudential Financial, Inc.		525		46,315
Allstate Corp.		386		42,089
Hartford Financial Services Group, Inc.		529		38,099
Principal Financial Group, Inc.		468		35,493
Brown & Brown, Inc.		485		33,387
Everest Re Group Ltd.		96		32,819
Cincinnati Financial Corp.		311		30,266
W R Berkley Corp.		469		27,934
Equitable Holdings, Inc.		927		25,177
Unum Group		491		23,421
Lincoln National Corp.		677		17,440
Total Insurance				1,219,681
Commercial Services - 6.7%
S&P Global, Inc.		232		93,006
PayPal Holdings, Inc.*		1,054		70,333
Moody's Corp.		174		60,503
Block, Inc. — Class A*		767		51,059
Global Payments, Inc.		408		40,196
StoneCo Ltd. — Class A*		2,789		35,532
FleetCor Technologies, Inc.*		137		34,398
Toast, Inc. — Class A*		1,230		27,761
MarketAxess Holdings, Inc.		80		20,914
Affirm Holdings, Inc.*		938		14,380
Total Commercial Services				448,082
Private Equity - 3.6%
Blackstone, Inc. — Class A		916		85,160
KKR & Company, Inc. — Class A		871		48,776
Ares Management Corp. — Class A		441		42,490
Brookfield Corp.		1,163		39,135
Carlyle Group, Inc.		728		23,260
Total Private Equity				238,821
Software - 2.8%
Fiserv, Inc.*		570		71,906
Fidelity National Information Services, Inc.		836		45,729
MSCI, Inc. — Class A		89		41,767
Jack Henry & Associates, Inc.		173		28,948
Total Software				188,350
Internet - 0.7%
Zillow Group, Inc. — Class C*		544		27,341
Robinhood Markets, Inc. — Class A*		2,255		22,505
Total Internet				49,846
Real Estate - 0.6%
CBRE Group, Inc. — Class A*		496		40,032
Media - 0.4%
FactSet Research Systems, Inc.		61		24,440
Savings & Loans - 0.3%
New York Community Bancorp, Inc.		2,052		23,065
Total Common Stocks
(Cost $6,054,111)				6,611,213
PREFERRED STOCKS† - 0.6%
Financial - 0.6%
Itau Unibanco Holding S.A. ADR		6,842		40,368
Total Preferred Stocks
(Cost $30,207)				40,368
	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.3%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	10,298		10,298
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		4,530		4,530
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		4,119		4,119
Total Repurchase Agreements
(Cost $18,947)				18,947
	Shares
SECURITIES LENDING COLLATERAL†,3 - 1.9%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4		125,375		125,375
Total Securities Lending Collateral
(Cost $125,375)				125,375
Total Investments - 101.8%
(Cost $6,228,640)			$	6,795,903
Other Assets & Liabilities, net - (1.8)%				(122,066	)
Total Net Assets - 100.0%			$	6,673,837

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.

Financial Services Fund

SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2023

††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt 

plc — Public Limited Company 

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	6,611,213	$	—	$	—	$	6,611,213
Preferred Stocks		40,368		—		—		40,368
Repurchase Agreements		—		18,947		—		18,947
Securities Lending Collateral		125,375		—		—		125,375
Total Assets	$	6,776,956	$	18,947	$	—	$	6,795,903

Government Long Bond 1.2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
MUTUAL FUNDS† - 13.8%
Guggenheim Ultra Short Duration Fund — Institutional Class1		222,710	$	2,166,970
Guggenheim Strategy Fund II1		81,235		1,967,512
Total Mutual Funds
(Cost $4,227,654)				4,134,482

		Face Amount
U.S. GOVERNMENT SECURITIES†† - 76.3%
U.S. Treasury Bonds
3.63% due 05/15/53	$	23,900,000		22,977,610
Total U.S. Government Securities
(Cost $22,668,805)				22,977,610
U.S. TREASURY BILLS†† - 3.2%
U.S. Treasury Bills
5.11% due 07/18/232,3		969,000		966,972
Total U.S. Treasury Bills
(Cost $966,621)				966,972
REPURCHASE AGREEMENTS††,4 - 3.9%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23		645,497		645,497
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		283,986		283,986
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		258,169		258,169
Total Repurchase Agreements
(Cost $1,187,652)				1,187,652
Total Investments - 97.2%
(Cost $29,050,732)			$	29,266,716
Other Assets & Liabilities, net - 2.8%				853,893
Total Net Assets - 100.0%			$	30,120,609

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Interest Rate Futures Contracts Purchased†
U.S. Treasury Ultra Long Bond Futures Contracts		104	Sep 2023	$	14,205,750	$	193,411

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	All or a portion of this security is pledged as futures collateral at June 30, 2023.
3	Rate indicated is the effective yield at the time of purchase.
4	Repurchase Agreements — See Note 4.

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	4,134,482	$	—	$	—	$	4,134,482
U.S. Government Securities		—		22,977,610		—		22,977,610
U.S. Treasury Bills		—		966,972		—		966,972
Repurchase Agreements		—		1,187,652		—		1,187,652
Interest Rate Futures Contracts**		193,411		—		—		193,411
Total Assets	$	4,327,893	$	25,132,234	$	—	$	29,460,127

** This derivative is reported as unrealized appreciation/depreciation at period end.

Government Long Bond 1.2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:
Security Name	Value 03/31/23		Additions		Reductions			Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	1,966,699	$	–	$	–		$	–		$	813	$	1,967,512		81,235	$	26,731
Guggenheim Ultra Short Duration Fund — Institutional Class		2,462,516		–		(300,000	)		(7,724	)		12,178		2,166,970		222,710		31,301
	$	4,429,215	$	–	$	(300,000	)	$	(7,724	)	$	12,991	$	4,134,482			$	58,032

Health Care Fund

SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.5%
Pharmaceuticals - 33.2%
Johnson & Johnson		5,342	$	884,208
Eli Lilly & Co.		1,818		852,606
Merck & Company, Inc.		6,320		729,265
AbbVie, Inc.		4,750		639,967
Pfizer, Inc.		15,863		581,855
Bristol-Myers Squibb Co.		7,489		478,922
Cigna Group		1,393		390,876
CVS Health Corp.		5,621		388,580
Becton Dickinson and Co.		1,419		374,630
Zoetis, Inc.		2,115		364,224
McKesson Corp.		775		331,165
AstraZeneca plc ADR		4,625		331,011
Dexcom, Inc.*		2,361		303,412
AmerisourceBergen Corp. — Class A		1,299		249,967
Cardinal Health, Inc.		2,293		216,849
Novo Nordisk A/S ADR		1,325		214,425
Novartis AG ADR		2,071		208,985
GSK plc ADR		5,725		204,039
Jazz Pharmaceuticals plc*		1,638		203,063
Teva Pharmaceutical Industries Ltd. ADR*		25,753		193,920
Alkermes plc*		6,085		190,460
Viatris, Inc.		14,898		148,682
Henry Schein, Inc.*		1,750		141,925
Neurocrine Biosciences, Inc.*		1,341		126,456
Elanco Animal Health, Inc.*		9,559		96,163
Madrigal Pharmaceuticals, Inc.*		157		36,267
Total Pharmaceuticals				8,881,922
Healthcare-Products - 30.1%
Abbott Laboratories		5,485		597,975
Thermo Fisher Scientific, Inc.		1,135		592,186
Danaher Corp.		2,230		535,200
Intuitive Surgical, Inc.*		1,401		479,058
Stryker Corp.		1,466		447,262
Boston Scientific Corp.*		7,030		380,253
Medtronic plc		4,113		362,355
Edwards Lifesciences Corp.*		3,527		332,702
IDEXX Laboratories, Inc.*		558		280,244
Zimmer Biomet Holdings, Inc.		1,635		238,056
ResMed, Inc.		1,088		237,728
West Pharmaceutical Services, Inc.		608		232,542
GE HealthCare Technologies, Inc.		2,851		231,615
Align Technology, Inc.*		634		224,208
Baxter International, Inc.		4,695		213,904
STERIS plc		916		206,082
Cooper Companies, Inc.		501		192,098
Insulet Corp.*		663		191,169
Hologic, Inc.*		2,324		188,174
Exact Sciences Corp.*		1,834		172,213
Waters Corp.*		631		168,187
Revvity, Inc.		1,380		163,930
Avantor, Inc.*		7,723		158,630
Bio-Techne Corp.		1,855		151,424
Teleflex, Inc.		587		142,072
Dentsply Sirona, Inc.		3,116		124,702
Masimo Corp.*		741		121,932
Shockwave Medical, Inc.*		402		114,735
Bruker Corp.		1,513		111,841
Repligen Corp.*		738		104,397
Lantheus Holdings, Inc.*		1,148		96,340
Natera, Inc.*		1,946		94,692
Neogen Corp.*		4,252		92,481
Inari Medical, Inc.*		1,148		66,745
Total Healthcare-Products				8,047,132
Biotechnology - 18.4%
Amgen, Inc.		2,055		456,251
Vertex Pharmaceuticals, Inc.*		1,161		408,568
Gilead Sciences, Inc.		5,292		407,854
Regeneron Pharmaceuticals, Inc.*		501		359,989
Moderna, Inc.*		2,162		262,683
Biogen, Inc.*		916		260,923
Illumina, Inc.*		1,158		217,113
Seagen, Inc.*		1,127		216,902
Horizon Therapeutics plc*		1,993		204,980
Alnylam Pharmaceuticals, Inc.*		1,064		202,096
BioNTech SE ADR*		1,766		190,604
Argenx SE ADR*		483		188,240
BioMarin Pharmaceutical, Inc.*		1,875		162,525
Royalty Pharma plc — Class A		5,149		158,280
Incyte Corp.*		2,301		143,237
United Therapeutics Corp.*		597		131,788
Sarepta Therapeutics, Inc.*		1,111		127,232
Apellis Pharmaceuticals, Inc.*		1,395		127,085
Exelixis, Inc.*		5,342		102,086
Ionis Pharmaceuticals, Inc.*		2,405		98,677
IVERIC bio, Inc.*		2,499		98,311
Halozyme Therapeutics, Inc.*		2,588		93,349
Karuna Therapeutics, Inc.*		399		86,523
Intellia Therapeutics, Inc.*		1,839		74,994
Cytokinetics, Inc.*		2,061		67,230
Mirati Therapeutics, Inc.*		1,557		56,254
Novavax, Inc.*,1		4,539		33,725
Total Biotechnology				4,937,499
Healthcare-Services - 16.0%
UnitedHealth Group, Inc.		1,828		878,610
Elevance Health, Inc.		942		418,521
HCA Healthcare, Inc.		1,140		345,967
Humana, Inc.		652		291,529
IQVIA Holdings, Inc.*		1,234		277,366
Centene Corp.*		3,777		254,759
ICON plc*		962		240,692
Laboratory Corporation of America Holdings		840		202,717
Molina Healthcare, Inc.*		595		179,238
Quest Diagnostics, Inc.		1,197		168,250
Universal Health Services, Inc. — Class B		926		146,095
Charles River Laboratories International, Inc.*		660		138,765
Tenet Healthcare Corp.*		1,521		123,779
Catalent, Inc.*		2,848		123,489
Acadia Healthcare Company, Inc.*		1,508		120,097
Medpace Holdings, Inc.*		428		102,793
HealthEquity, Inc.*		1,534		96,857
Syneos Health, Inc.*		2,076		87,483

Health Care Fund

SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2023

		Shares		Value
COMMON STOCKS† - 99.5% (continued)
Healthcare-Services - 16.0% (continued)
Teladoc Health, Inc.*		3,320	$	84,063
Total Healthcare-Services				4,281,070
Electronics - 0.9%
Agilent Technologies, Inc.		2,108		253,487
Software - 0.9%
Veeva Systems, Inc. — Class A*		1,215		240,242
Total Common Stocks
(Cost $18,239,836)				26,641,352
RIGHTS††† - 0.0%
Pharmaceuticals - 0.0%
Johnson & Johnson
Expires 12/31/29		752		–
Total Rights
(Cost $–)				–
		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	88,996		88,996
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		39,154		39,154
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		35,594		35,594
Total Repurchase Agreements
(Cost $163,744)				163,744
		Shares
SECURITIES LENDING COLLATERAL†,3 - 0.1%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4		26,087		26,087
Total Securities Lending Collateral
(Cost $26,087)				26,087
Total Investments - 100.2%
(Cost $18,429,667)			$	26,831,183
Other Assets & Liabilities, net - (0.2)%				(56,428	)
Total Net Assets - 100.0%			$	26,774,755

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt 

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs			Total
Common Stocks	$	26,641,352	$	—	$	—		$	26,641,352
Rights		—		—		—	*		—
Repurchase Agreements		—		163,744		—			163,744
Securities Lending Collateral		26,087		—		—			26,087
Total Assets	$	26,667,439	$	163,744	$	—		$	26,831,183

* Security has a market value of $0.

High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
MUTUAL FUNDS† - 10.1%
Guggenheim Strategy Fund III1		79,841	$	1,936,146
Guggenheim Ultra Short Duration Fund — Institutional Class1		133,249		1,296,513
Guggenheim Strategy Fund II1		53,173		1,287,844
Total Mutual Funds
(Cost $4,578,426)				4,520,503

	Face Amount
FEDERAL AGENCY DISCOUNT NOTES†† - 30.3%
Federal Home Loan Bank
5.07% due 07/20/232	$	5,000,000		4,986,621
4.80% due 07/03/232		4,000,000		3,998,933
4.93% due 07/07/232		2,500,000		2,497,946
4.78% due 07/14/232		1,400,000		1,397,467
5.15% due 08/23/232		750,000		744,314
Total Federal Agency Discount Notes
(Cost $13,625,281)				13,625,281
U.S. TREASURY BILLS†† - 28.6%
U.S. Treasury Bills
5.05% due 07/05/232		5,000,000		4,998,637
4.87% due 08/10/232		4,000,000		3,978,330
4.26% due 07/25/232		3,000,000		2,990,833
5.11% due 07/18/232,3		891,000		889,135
Total U.S. Treasury Bills
(Cost $12,853,310)				12,856,935
FEDERAL AGENCY NOTES†† - 4.4%
Federal Home Loan Bank
2.35% due 07/05/23		2,000,000		1,999,672
Total Federal Agency Notes
(Cost $1,999,388)				1,999,672
REPURCHASE AGREEMENTS††,4 - 17.9%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/235		4,387,003		4,387,003
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/235		1,930,060		1,930,060
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/235		1,754,600		1,754,600
Total Repurchase Agreements
(Cost $8,071,663)				8,071,663
Total Investments - 91.3%
(Cost $41,128,068)			$	41,074,054
Other Assets & Liabilities, net - 8.7%				3,919,627
Total Net Assets - 100.0%			$	44,993,681

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Interest Rate Futures Contracts Purchased†
U.S. Treasury 5 Year Note Futures Contracts		382	Sep 2023	$	40,924,735	$	(544,024	)

Centrally Cleared Credit Default Swap Agreements Protection Sold^††

Counterparty	Exchange	Index	Protection Premium Rate			Payment Frequency	Maturity Date	Notional Amount		Value		Upfront Premiums Paid (Received)			Unrealized Appreciation**
Barclays Bank plc	ICE	CDX.NA.HY.40.V1		5.00	%	Quarterly	06/20/28	$	36,850,000	$	1,027,986	$	411,849		$	616,137
Goldman Sachs International	ICE	CDX.NA.HY.40.V1		5.00	%	Quarterly	06/20/28		5,700,000		159,010		(6,522	)		165,532
										$	1,186,996	$	405,327		$	781,669

Total Return Swap Agreements

Counterparty

Reference Obligation

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Credit Index Swap Agreements††

Goldman Sachs International

iShares iBoxx $ High Yield Corporate Bond ETF

Pay

5.47% (Federal Funds Rate + 0.40%)

At Maturity

07/27/23

16,337

$

1,226,418

$

9,639

BNP Paribas

SPDR Bloomberg High Yield Bond ETF

Pay

5.52% (Federal Funds Rate + 0.45%)

At Maturity

09/21/23

1,788

164,558

1,234

BNP Paribas

iShares iBoxx $ High Yield Corporate Bond ETF

Pay

5.47% (Federal Funds Rate + 0.40%)

At Maturity

09/21/23

1,222

91,751

721

$

1,482,727

$

11,594

High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	Rate indicated is the effective yield at the time of purchase.
3	All or a portion of this security is pledged as futures and credit default swap collateral at June 30, 2023.
4	Repurchase Agreements — See Note 4.
5	All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.

CDX.NA.HY.40.V1 — Credit Default Swap North American High Yield Series 40 Index Version 1

ICE — Intercontinental Exchange

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	4,520,503	$	—	$	—	$	4,520,503
Federal Agency Discount Notes		—		13,625,281		—		13,625,281
U.S. Treasury Bills		—		12,856,935		—		12,856,935
Federal Agency Notes		—		1,999,672		—		1,999,672
Repurchase Agreements		—		8,071,663		—		8,071,663
Credit Default Swap Agreements**		—		781,669		—		781,669
Credit Index Swap Agreements**		—		11,594		—		11,594
Total Assets	$	4,520,503	$	37,346,814	$	—	$	41,867,317

Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Interest Rate Futures Contracts**	$	544,024	$	—	$	—	$	544,024

^** This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:
Security Name	Value 03/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	1,287,312	$	–	$	–	$	–	$	532	$	1,287,844		53,173	$	17,497
Guggenheim Strategy Fund III		1,936,146		–		–		–		–		1,936,146		79,841		25,805
Guggenheim Ultra Short Duration Fund — Institutional Class		1,293,848		–		–		–		2,665		1,296,513		133,249		17,304
	$	4,517,306	$	–	$	–	$	–	$	3,197	$	4,520,503			$	60,606

Internet Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.6%
Internet - 56.4%
Alphabet, Inc. — Class A*		8,333	$	997,460
Amazon.com, Inc.*		7,132		929,728
Meta Platforms, Inc. — Class A*		2,555		733,234
Netflix, Inc.*		960		422,870
Uber Technologies, Inc.*		6,399		276,245
Airbnb, Inc. — Class A*		2,020		258,883
Booking Holdings, Inc.*		94		253,831
Alibaba Group Holding Ltd. ADR*		2,623		218,627
Shopify, Inc. — Class A*		2,667		172,288
DoorDash, Inc. — Class A*		1,957		149,554
Baidu, Inc. ADR*		1,065		145,809
eBay, Inc.		3,160		141,220
JD.com, Inc. ADR		4,094		139,728
Pinterest, Inc. — Class A*		4,927		134,704
VeriSign, Inc.*		591		133,548
Spotify Technology S.A.*		784		125,871
Trip.com Group Ltd. ADR*		3,497		122,395
Expedia Group, Inc.*		1,087		118,907
Snap, Inc. — Class A*		10,040		118,874
MercadoLibre, Inc.*		98		116,091
Sea Ltd. ADR*		1,938		112,482
Chewy, Inc. — Class A*		2,842		112,174
Wix.com Ltd.*		1,408		110,162
Match Group, Inc.*		2,470		103,370
Bilibili, Inc. ADR*,1		6,778		102,348
GoDaddy, Inc. — Class A*		1,348		101,275
Zillow Group, Inc. — Class C*		1,991		100,068
Okta, Inc.*		1,376		95,426
Etsy, Inc.*		1,097		92,817
F5, Inc.*		594		86,878
Roku, Inc.*		1,322		84,555
Wayfair, Inc. — Class A*		1,287		83,668
IAC, Inc.*		1,090		68,452
Ziff Davis, Inc.*		770		53,946
Lyft, Inc. — Class A*		5,120		49,101
Bumble, Inc. — Class A*		2,635		44,215
Overstock.com, Inc.*		1,335		43,481
TripAdvisor, Inc.*		2,401		39,592
Total Internet				7,193,877
Software - 27.5%
Adobe, Inc.*		945		462,096
Salesforce, Inc.*		1,952		412,379
Activision Blizzard, Inc.*		2,805		236,461
Workday, Inc. — Class A*		1,030		232,667
Snowflake, Inc. — Class A*		1,157		203,609
Electronic Arts, Inc.		1,347		174,706
Veeva Systems, Inc. — Class A*		852		168,466
MongoDB, Inc.*		393		161,519
Datadog, Inc. — Class A*		1,600		157,408
Take-Two Interactive Software, Inc.*		1,041		153,194
Cloudflare, Inc. — Class A*		2,036		133,093
Zoom Video Communications, Inc. — Class A*		1,866		126,664
ROBLOX Corp. — Class A*		2,958		119,207
NetEase, Inc. ADR		1,201		116,125
Akamai Technologies, Inc.*		1,191		107,035
Twilio, Inc. — Class A*		1,565		99,565
Dropbox, Inc. — Class A*		3,485		92,945
DocuSign, Inc.*		1,706		87,160
ZoomInfo Technologies, Inc. — Class A*		3,389		86,047
Nutanix, Inc. — Class A*		2,609		73,182
Smartsheet, Inc. — Class A*		1,669		63,856
DigitalOcean Holdings, Inc.*		1,057		42,428
Total Software				3,509,812
Telecommunications - 9.7%
Cisco Systems, Inc.		8,037		415,835
Motorola Solutions, Inc.		719		210,868
Arista Networks, Inc.*		1,114		180,535
Telefonaktiebolaget LM Ericsson ADR		18,537		101,027
Juniper Networks, Inc.		3,027		94,836
Nokia Oyj ADR		18,802		78,216
Ciena Corp.*		1,715		72,870
Viavi Solutions, Inc.*		4,404		49,897
CommScope Holding Company, Inc.*		4,907		27,627
Total Telecommunications				1,231,711
Commercial Services - 4.2%
PayPal Holdings, Inc.*		3,862		257,711
CoStar Group, Inc.*		2,070		184,230
Paylocity Holding Corp.*		364		67,169
Chegg, Inc.*		3,088		27,422
Total Commercial Services				536,532
Entertainment - 0.8%
DraftKings, Inc. — Class A*		3,673		97,592
Computers - 0.5%
Lumentum Holdings, Inc.*		1,062		60,247
Healthcare-Services - 0.5%
Teladoc Health, Inc.*		2,330		58,995
Total Common Stocks
(Cost $7,918,200)				12,688,766
	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	42,768		42,768
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		18,816		18,816
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		17,105		17,105
Total Repurchase Agreements
(Cost $78,689)				78,689

Internet Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
SECURITIES LENDING COLLATERAL†,3 - 0.6%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4		77,516	$	77,516
Total Securities Lending Collateral
(Cost $77,516)				77,516
Total Investments - 100.8%
(Cost $8,074,405)			$	12,844,971
Other Assets & Liabilities, net - (0.8)%				(101,304	)
Total Net Assets - 100.0%			$	12,743,667

^*  Non-income producing security.

^†  Value determined based on Level 1 inputs — See Note 3.

^††  Value determined based on Level 2 inputs — See Note 3.

¹  All or a portion of this security is on loan at June 30, 2023 — See Note 5.

²  Repurchase Agreements — See Note 4.

³  Securities lending collateral — See Note 5.

⁴  Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	12,688,766	$	—	$	—	$	12,688,766
Repurchase Agreements		—		78,689		—		78,689
Securities Lending Collateral		77,516		—		—		77,516
Total Assets	$	12,766,282	$	78,689	$	—	$	12,844,971

Inverse Emerging Markets 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Face Amount		Value
REPURCHASE AGREEMENTS††,1 - 92.4%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/232	$	326,266	$	326,266
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/232		143,541		143,541
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/232		130,491		130,491
Total Repurchase Agreements
(Cost $600,298)				600,298
Total Investments - 92.4%
(Cost $600,298)			$	600,298
Other Assets & Liabilities, net - 7.6%				49,539
Total Net Assets - 100.0%			$	649,837

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements Sold Short††
Goldman Sachs International	S&P Emerging 50 ADR Index	Receive	4.32% (Federal Funds Rate - 0.75%)	At Maturity	09/21/23		345	$	890,074	$	12,086
BNP Paribas	S&P Emerging 50 ADR Index	Receive	4.87% (Federal Funds Rate - 0.20%)	At Maturity	09/21/23		155		399,533		6,413
								$	1,289,607	$	18,499

††	Value determined based on Level 2 inputs — See Note 3.
1	Repurchase Agreements — See Note 4.
2	All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.

ADR – American Depositary Receipt

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Repurchase Agreements	$	—	$	600,298	$	—	$	600,298
Equity Index Swap Agreements**		—		18,499		—		18,499
Total Assets	$	—	$	618,797	$	—	$	618,797

** This derivative is reported as unrealized appreciation/depreciation at period end.

Inverse Government Long Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
MUTUAL FUNDS† - 22.7%
Guggenheim Ultra Short Duration Fund — Institutional Class1		528,512	$	5,142,420
Guggenheim Strategy Fund II1		210,588		5,100,439
Total Mutual Funds
(Cost $10,470,929)				10,242,859

		Face Amount
U.S. TREASURY BILLS†† - 22.8%
U.S. Treasury Bills
5.05% due 07/05/232	$	10,000,000		9,997,274
5.11% due 07/18/232,3		277,000		276,420
Total U.S. Treasury Bills
(Cost $10,270,709)				10,273,694
FEDERAL AGENCY NOTES†† - 17.7%
Farmer Mac
5.12% (SOFR + 0.06%, Rate Floor: 0.00%) due 09/15/23◊		4,000,000		4,000,104
Federal Home Loan Bank
5.15% (SOFR + 0.09%, Rate Floor: 0.00%) due 07/03/23◊		4,000,000		4,000,012
Total Federal Agency Notes
(Cost $8,000,000)				8,000,116
FEDERAL AGENCY DISCOUNT NOTES†† - 11.1%
Federal Home Loan Bank
5.07% due 07/20/232		5,000,000		4,986,621
Total Federal Agency Discount Notes
(Cost $4,986,620)				4,986,621
REPURCHASE AGREEMENTS††, - 65.5%
Individual Repurchase Agreements5 Mizuho Securities USA LLC issued 06/30/23 at 4.90% due 07/03/23 (secured by a U.S. Treasury Bond, at a rate of 3.63% and maturing 05/15/53 as collateral, with a value of $22,912,500) to be repurchased at $22,472,407		22,463,235		22,463,235
Barclays Capital, Inc. issued 06/30/23 at 4.75% due 07/03/23 (secured by a U.S. Treasury Bond, at a rate of 3.63% and maturing 05/15/53 as collateral, with a value of $4,768,500) to be repurchased at $4,676,851		4,675,000		4,675,000
Joint Repurchase Agreements4 J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23		1,306,626		1,306,626
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		574,850		574,850
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		522,590		522,590
Total Repurchase Agreements
(Cost $29,542,301)				29,542,301
Total Investments - 139.8%
(Cost $63,270,559)			$	63,045,591
U.S. Government Securities Sold Short†† - (78.9)%
U.S. Treasury Bonds
3.63% due 05/15/53		37,000,000		(35,572,031	)
Total Securities Sold Short - (78.9)%
(Proceeds $35,520,107)			$	(35,572,031	)
Other Assets & Liabilities, net - 39.1%				17,614,194
Total Net Assets - 100.0%			$	45,087,754

Inverse Government Long Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Interest Rate Futures Contracts Sold Short†
U.S. Treasury Ultra Long Bond Futures Contracts		75	Sep 2023	$	10,244,531	$	(64,210	)

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
◊	Variable rate security. Rate indicated is the rate effective at June 30, 2023. In some instances, the effective rate is limited by a minimum rate floor or a maximum rate cap established by the issuer. The settlement status of a position may also impact the effective rate indicated. In some cases, a position may be unsettled at period end and may not have a stated effective rate. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
1	Affiliated issuer.
2	Rate indicated is the effective yield at the time of purchase.
3	All or a portion of this security is pledged as futures collateral at June 30, 2023.
4	Repurchase Agreements — See Note 4.
5	All or a portion of this security is pledged as short security collateral at June 30, 2023.

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	10,242,859	$	—	$	—	$	10,242,859
U.S. Treasury Bills		—		10,273,694		—		10,273,694
Federal Agency Notes		—		8,000,116		—		8,000,116
Federal Agency Discount Notes		—		4,986,621		—		4,986,621
Repurchase Agreements		—		29,542,301		—		29,542,301
Total Assets	$	10,242,859	$	52,802,732	$	—	$	63,045,591

Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
U.S. Government Securities Sold Short	$	—	$	35,572,031	$	—	$	35,572,031
Interest Rate Futures Contracts**		64,210		—		—		64,210
Total Liabilities	$	64,210	$	35,572,031	$	—	$	35,636,241

** This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Inverse Government Long Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:
Security Name	Value 03/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	5,098,333	$	–	$	–	$	–	$	2,106	$	5,100,439		210,588	$	69,296
Guggenheim Ultra Short Duration Fund — Institutional Class		5,131,850		–		–		–		10,570		5,142,420		528,512		68,632
	$	10,230,183	$	–	$	–	$	–	$	12,676	$	10,242,859			$	137,928

Inverse High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
MUTUAL FUNDS† - 11.2%
Guggenheim Strategy Fund II1		29,310	$	709,877
Guggenheim Ultra Short Duration Fund — Institutional Class1		37,683		366,657
Total Mutual Funds
(Cost $1,096,686)				1,076,534
		Face Amount
FEDERAL AGENCY DISCOUNT NOTES†† - 33.4%
Federal Home Loan Bank
4.93% due 07/07/232	$	1,900,000		1,898,439
4.90% due 07/03/232		600,000		599,836
Freddie Mac
4.90% due 07/05/232		700,000		699,619
Total Federal Agency Discount Notes
(Cost $3,197,895)				3,197,894
U.S. TREASURY BILLS†† - 23.9%
U.S. Treasury Bills
4.26% due 07/25/232		2,000,000		1,993,889
5.11% due 07/18/232,3		290,000		289,393
Total U.S. Treasury Bills
(Cost $2,282,601)				2,283,282
REPURCHASE AGREEMENTS††,4 - 26.3%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23		1,367,631		1,367,631
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		601,689		601,689
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		546,990		546,990
Total Repurchase Agreements
(Cost $2,516,310)				2,516,310
Total Investments - 94.8%
(Cost $9,093,492)			$	9,074,020
Other Assets & Liabilities, net - 5.2%				500,726
Total Net Assets - 100.0%			$	9,574,746

Futures Contracts

Description	Number of Contracts	Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Interest Rate Futures Contracts Sold Short†
U.S. Treasury 5 Year Note Futures Contracts	85	Sep 2023	$	9,106,289	$	162,622

Centrally Cleared Credit Default Swap Agreements Protection Purchased^††

Counterparty	Exchange	Index	Protection Premium Rate			Payment Frequency	Maturity Date	Notional Amount		Value			Upfront Premiums Paid (Received)			Unrealized Depreciation**
Barclays Bank plc	ICE	CDX.NA.HY.40.V1		5.00	%	Quarterly	06/20/28	$	9,500,000	$	(265,017	)	$	(94,832	)	$	(170,185	)

^** Includes cumulative appreciation (depreciation).

^† Value determined based on Level 1 inputs — See Note 3.

^†† Value determined based on Level 2 inputs — See Note 3.

¹ Affiliated issuer.

² Rate indicated is the effective yield at the time of purchase.

³ All or a portion of this security is pledged as futures collateral at June 30, 2023.

⁴ Repurchase Agreements — See Note 4.

CDX.NA.HY.40.V1 — Credit Default Swap North American High Yield Series 40 Index Version 1

ICE — Intercontinental Exchange

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	1,076,534	$	—	$	—	$	1,076,534
Federal Agency Discount Notes		—		3,197,894		—		3,197,894
U.S. Treasury Bills		—		2,283,282		—		2,283,282
Repurchase Agreements		—		2,516,310		—		2,516,310
Interest Rate Futures Contracts**		162,622		—		—		162,622
Total Assets	$	1,239,156	$	7,997,486	$	—	$	9,236,642

Inverse High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Credit Default Swap Agreements**	$	—	$	170,185	$	—	$	170,185

** This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	709,584	$	–	$	–	$	–	$	293	$	709,877		29,310	$	9,645
Guggenheim Ultra Short Duration Fund — Institutional Class		365,903		–		–		–		754		366,657		37,683		4,893
	$	1,075,487	$	–	$	–	$	–	$	1,047	$	1,076,534			$	14,538

Inverse Mid-Cap Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
MUTUAL FUNDS† - 2.6%
Guggenheim Strategy Fund II1		2,020	$	48,924
Guggenheim Ultra Short Duration Fund — Institutional Class1		4,630		45,051
Total Mutual Funds
(Cost $95,671)				93,975
		Face Amount
U.S. TREASURY BILLS†† - 5.4%
U.S. Treasury Bills
5.00% due 08/03/232,3	$	100,000		99,559
5.05% due 08/03/232,3		50,000		49,780
5.10% due 08/03/232,3		50,000		49,780
Total U.S. Treasury Bills
(Cost $199,077)				199,119
REPURCHASE AGREEMENTS††,4 - 94.5%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/232		1,872,910		1,872,910
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/232		823,986		823,986
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/232		749,078		749,078
Total Repurchase Agreements
(Cost $3,445,974)				3,445,974
Total Investments - 102.5%
(Cost $3,740,722)			$	3,739,068
Other Assets & Liabilities, net - (2.5)%				(91,853	)
Total Net Assets - 100.0%			$	3,647,215

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements Sold Short††
BNP Paribas	S&P MidCap 400 Index	Receive	5.12% (Federal Funds Rate + 0.05%)	At Maturity	09/21/23		45	$	118,899	$	(2,130	)
Goldman Sachs International	S&P MidCap 400 Index	Receive	5.02% (Federal Funds Rate - 0.05%)	At Maturity	09/21/23		435		1,140,786		(20,450	)
Barclays Bank plc	S&P MidCap 400 Index	Receive	5.26% (SOFR + 0.20%)	At Maturity	09/20/23		911		2,388,026		(79,748	)
								$	3,647,711	$	(102,328	)

†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.
3	Rate indicated is the effective yield at the time of purchase.
4	Repurchase Agreements — See Note 4.

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	93,975	$	—	$	—	$	93,975
U.S. Treasury Bills		—		199,119		—		199,119
Repurchase Agreements		—		3,445,974		—		3,445,974
Total Assets	$	93,975	$	3,645,093	$	—	$	3,739,068

Inverse Mid-Cap Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Index Swap Agreements**	$	—	$	102,328	$	—	$	102,328

** This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	48,904	$	–	$	–	$	–	$	20	$	48,924		2,020	$	665
Guggenheim Ultra Short Duration Fund — Institutional Class		44,958		–		–		–		93		45,051		4,630		601
	$	93,862	$	–	$	–	$	–	$	113	$	93,975			$	1,266

Inverse NASDAQ-100® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
MUTUAL FUNDS† - 9.5%
Guggenheim Strategy Fund II1		49,399	$	1,196,452
Guggenheim Ultra Short Duration Fund — Institutional Class1		87,169		848,151
Total Mutual Funds
(Cost $2,033,556)				2,044,603

		Face Amount
FEDERAL AGENCY DISCOUNT NOTES†† - 47.5%
Federal Home Loan Bank
5.07% due 07/20/232	$	5,000,000	4,986,621
5.27% due 09/22/232		2,714,000	2,682,835
4.93% due 07/07/232		2,500,000	2,497,946
Total Federal Agency Discount Notes
(Cost $10,165,591)			10,167,402
U.S. TREASURY BILLS†† - 31.5%
U.S. Treasury Bills
5.05% due 07/05/232		2,500,000	2,499,319
5.00% due 08/03/232,3		2,230,000	2,289,872
5.05% due 08/03/232,3		750,000	746,697
5.01% due 08/03/232,3		600,000	597,358

5.10% due 08/03/232,3	500,000		497,798
5.05% due 08/03/232,3	100,000		99,560
5.11% due 07/18/232,4	18,000		17,962
Total U.S. Treasury Bills
(Cost $6,746,986)			6,748,566
REPURCHASE AGREEMENTS††,5 - 13.8%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/233	1,601,678		1,601,678
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/233	704,657		704,657
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/233	640,598		640,598
Total Repurchase Agreements
(Cost $2,946,933)			2,946,933
Total Investments - 102.3%
(Cost $21,893,066)		$	21,907,504
Other Assets & Liabilities, net - (2.3)%			(485,886	)
Total Net Assets - 100.0%		$	21,421,618

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Equity Futures Contracts Sold Short†
NASDAQ-100 Index Mini Futures Contracts		1	Sep 2023	$	306,625	$	(11,873	)

Total Return Swap Agreements

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Depreciation

OTC Equity Index Swap Agreements Sold Short††

Goldman Sachs International

NASDAQ-100 Index

Receive

5.37% (Federal Funds Rate + 0.30%)

At Maturity

09/21/23

272

$

4,122,883

$

(63,365

)

BNP Paribas

NASDAQ-100 Index

Receive

5.32% (Federal Funds Rate + 0.25%)

At Maturity

09/21/23

349

5,301,011

(81,486

)

Barclays Bank plc

NASDAQ-100 Index

Receive

5.41% (SOFR + 0.35%)

At Maturity

09/20/23

768

11,663,186

(376,640

)

$

21,087,080

$

(521,491

)

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	Rate indicated is the effective yield at the time of purchase.
3	All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.
4	All or a portion of this security is pledged as futures collateral at June 30, 2023.
5	Repurchase Agreements — See Note 4.

Inverse NASDAQ-100® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	2,044,603	$	—	$	—	$	2,044,603
Federal Agency Discount Notes		—		10,167,402		—		10,167,402
U.S. Treasury Bills		—		6,748,566		—		6,748,566
Repurchase Agreements		—		2,946,933		—		2,946,933
Total Assets	$	2,044,603	$	19,862,901	$	—	$	21,907,504

Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	11,873	$	—	$	—	$	11,873
Equity Index Swap Agreements**		—		521,491		—		521,491
Total Liabilities	$	11,873	$	521,491	$	—	$	533,364

** This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:
Security Name	Value 03/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	1,195,958	$	–	$	–	$	–	$	494	$	1,196,452		49,399	$	16,255
Guggenheim Ultra Short Duration Fund — Institutional Class		846,408		–		–		–		1,743		848,151		87,169		11,320
	$	2,042,366	$	–	$	–	$	–	$	2,237	$	2,044,603			$	27,575

Inverse Russell 2000® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
MUTUAL FUNDS† - 37.1%
Guggenheim Strategy Fund II1		39,100	$	947,008
Guggenheim Ultra Short Duration Fund — Institutional Class1		97,310		946,826
Total Mutual Funds
(Cost $1,914,221)				1,893,834

	Face Amount
U.S. TREASURY BILLS†† - 0.9%
U.S. Treasury Bills
5.00% due 08/03/232,3	$	50,000		49,780
Total U.S. Treasury Bills
(Cost $49,771)				49,780
REPURCHASE AGREEMENTS††,4 - 65.8%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05%   due 07/03/232		1,826,086		1,826,086
Barclays Capital, Inc. issued 06/30/23 at 5.06%   due 07/03/232		803,386		803,386
BofA Securities, Inc. issued 06/30/23 at 5.06%   due 07/03/232		730,351		730,351
Total Repurchase Agreements
(Cost $3,359,823)				3,359,823
Total Investments - 103.8%
(Cost $5,323,815)			$	5,303,437
Other Assets & Liabilities, net - (3.8)%				(196,045	)
Total Net Assets - 100.0%			$	5,107,392

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Equity Futures Contracts Sold Short†
Russell 2000 Index Mini Futures Contracts		6	Sep 2023	$	570,930	$	(10,042	)

Total Return Swap Agreements

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Depreciation

OTC Equity Index Swap Agreements Sold Short††

BNP Paribas

Russell 2000 Index

Receive

4.87% (Federal Funds Rate - 0.20%)

At Maturity

09/21/23

433

$

818,552

$

(16,818

)

Barclays Bank plc

Russell 2000 Index

Receive

4.56% (SOFR - 0.50%)

At Maturity

09/20/23

571

1,077,767

(37,361

)

Goldman Sachs International

Russell 2000 Index

Receive

4.92% (Federal Funds Rate - 0.15%)

At Maturity

09/21/23

1,403

2,650,108

(54,447

)

$

4,546,427

$

(108,626

)

^** Includes cumulative appreciation (depreciation).

^† Value determined based on Level 1 inputs — See Note 3.

^†† Value determined based on Level 2 inputs — See Note 3.

¹ Affiliated issuer.

² All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.

³ Rate indicated is the effective yield at the time of purchase.

⁴ Repurchase Agreements — See Note 4.

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

Inverse Russell 2000® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	1,893,834	$	—	$	—	$	1,893,834
U.S. Treasury Bills		—		49,780		—		49,780
Repurchase Agreements		—		3,359,823		—		3,359,823
Total Assets	$	1,893,834	$	3,409,603	$	—	$	5,303,437

Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	10,042	$	—	$	—	$	10,042
Equity Index Swap Agreements**		—		108,626		—		108,626
Total Liabilities	$	10,042	$	108,626	$	—	$	118,668

^** This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	946,618	$	—	$	—	$	—	$	390	$	947,008		39,100	$	12,866
Guggenheim Ultra Short Duration Fund — Institutional Class		944,879		—		—		—		1,947		946,826		97,310		12,637
	$	1,891,497	$	—	$	—	$	—	$	2,337	$	1,893,834			$	25,503

Inverse S&P 500® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
MUTUAL FUNDS† - 20.7%
Guggenheim Strategy Fund II1		262,625	$	6,360,780
Guggenheim Ultra Short Duration Fund — Institutional Class1		426,990		4,154,615
Total Mutual Funds
(Cost $10,738,043)				10,515,395
		Face Amount
U.S. TREASURY BILLS†† - 34.8%
U.S. Treasury Bills
5.02% due 08/03/232,3	$	5,000,000		4,977,983
4.87% due 08/10/233		5,000,000		4,972,912
5.11% due 09/21/233		5,000,000		4,942,650
5.00% due 08/03/232,3		2,300,000		2,289,872
5.11% due 07/18/233,4		443,000		442,073
Total U.S. Treasury Bills
(Cost $17,621,139)				17,625,490
FEDERAL AGENCY DISCOUNT NOTES†† - 18.5%
Federal Home Loan Bank
4.73% due 07/14/233		5,400,000		5,390,211
4.90% due 07/05/233		4,000,000		3,997,822
Total Federal Agency Discount Notes
(Cost $9,388,033)				9,388,033
FEDERAL AGENCY NOTES†† - 16.4%
Federal Home Loan Bank
5.15% (SOFR + 0.09%, Rate Floor: 0.00%) due 07/03/23◊		5,000,000		5,000,015
5.18% (SOFR + 0.12%, Rate Floor: 0.00%) due 09/06/23◊		3,300,000		3,300,406
Total Federal Agency Notes
(Cost $8,300,000)				8,300,421
REPURCHASE AGREEMENTS††,5 - 10.4%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/232		2,872,663		2,872,663
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/232		1,263,827		1,263,827
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/232		1,148,934		1,148,934
Total Repurchase Agreements
(Cost $5,285,424)				5,285,424
Total Investments - 100.8%
(Cost $51,332,639)			$	51,114,763
Other Assets & Liabilities, net - (0.8)%				(383,939	)
Total Net Assets - 100.0%			$	50,730,824

Inverse S&P 500® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Equity Futures Contracts Sold Short†
S&P 500 Index Mini Futures Contracts		82	Sep 2023	$	18,394,650	$	(115,209	)

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements Sold Short††
BNP Paribas	S&P 500 Index	Receive	5.27% (Federal Funds Rate + 0.20%)	At Maturity	09/21/23		1,309	$	5,826,687	$	(94,226	)
Barclays Bank plc	S&P 500 Index	Receive	5.36% (SOFR + 0.30%)	At Maturity	09/20/23		1,261		5,611,829		(153,284	)
Goldman Sachs International	S&P 500 Index	Receive	5.37% (Federal Funds Rate + 0.30%)	At Maturity	09/21/23		4,690		20,873,893		(337,566	)
								$	32,312,409	$	(585,076	)

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
◊	Variable rate security. Rate indicated is the rate effective at June 30, 2023. In some instances, the effective rate is limited by a minimum rate floor or a maximum rate cap established by the issuer. The settlement status of a position may also impact the effective rate indicated. In some cases, a position may be unsettled at period end and may not have a stated effective rate. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.
1	Affiliated issuer.
2	All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.
3	Rate indicated is the effective yield at the time of purchase.
4	All or a portion of this security is pledged as futures collateral at June 30, 2023.
5	Repurchase Agreements — See Note 4.

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	10,515,395	$	—	$	—	$	10,515,395
U.S. Treasury Bills		—		17,625,490		—		17,625,490
Federal Agency Discount Notes		—		9,388,033		—		9,388,033
Federal Agency Notes		—		8,300,421		—		8,300,421
Repurchase Agreements		—		5,285,424		—		5,285,424
Total Assets	$	10,515,395	$	40,599,368	$	—	$	51,114,763

Inverse S&P 500® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	115,209	$	—	$	—	$	115,209
Equity Index Swap Agreements**		—		585,076		—		585,076
Total Liabilities	$	115,209	$	585,076	$	—	$	700,285

** This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:
Security Name	Value 03/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	6,358,154	$	–	$	–	$	–	$	2,626	$	6,360,780		262,625	$	86,420
Guggenheim Ultra Short Duration Fund — Institutional Class	$	4,146,075	$	–	$	–	$	–	$	8,540	$	4,154,615		426,990	$	55,448
	$	10,504,229	$	–	$	–	$	–	$	11,166	$	10,515,395			$	141,868

Japan 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Face Amount		Value
U.S. TREASURY BILLS†† - 34.1%
U.S. Treasury Bills
5.11% due 07/18/231,2	$	644,000	$	642,652
Total U.S. Treasury Bills
(Cost $642,419)				642,652
REPURCHASE AGREEMENTS††,3 - 64.9%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23		664,164		664,164
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		292,198		292,198
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		265,635		265,635
Total Repurchase Agreements
(Cost $1,221,997)				1,221,997
Total Investments - 99.0%
(Cost $1,864,416)			$	1,864,649
Other Assets & Liabilities, net - 1.0%				19,141
Total Net Assets - 100.0%			$	1,883,790

Futures Contracts

Description	Number of Contracts	Expiration Date	Notional Amount		Value and Unrealized Appreciation (Depreciation)**
Equity Futures Contracts Purchased†
Nikkei 225 (CME) Index Futures Contracts	23	Sep 2023	$	3,851,925	$	146,373
Currency Futures Contracts Purchased†
Japanese Yen Futures Contracts	43	Sep 2023		3,769,756		(134,439	)

^** Includes cumulative appreciation (depreciation).

^† Value determined based on Level 1 inputs — See Note 3.

^†† Value determined based on Level 2 inputs — See Note 3.

¹ All or a portion of this security is pledged as futures collateral at June 30, 2023.

² Rate indicated is the effective yield at the time of purchase.

³ Repurchase Agreements — See Note 4.

CME — Chicago Mercantile Exchange

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
U.S. Treasury Bills	$	—	$	642,652	$	—	$	642,652
Repurchase Agreements		—		1,221,997		—		1,221,997
Equity Futures Contracts**		146,373		—		—		146,373
Total Assets	$	146,373	$	1,864,649	$	—	$	2,011,022

Japan 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Currency Futures Contracts**	$	134,439	$	—	$	—	$	134,439

** This derivative is reported as unrealized appreciation/depreciation at period end.

Leisure Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.3%
Retail - 19.1%
McDonald's Corp.		1,689	$	504,015
Starbucks Corp.		3,589		355,526
Chipotle Mexican Grill, Inc. — Class A*		123		263,097
Yum! Brands, Inc.		1,535		212,674
Darden Restaurants, Inc.		907		151,542
Domino's Pizza, Inc.		360		121,316
Restaurant Brands International, Inc.		1,554		120,466
Yum China Holdings, Inc.		1,960		110,740
Texas Roadhouse, Inc. — Class A		818		91,845
Wingstop, Inc.		410		82,066
Wendy's Co.		2,931		63,749
Shake Shack, Inc. — Class A*		801		62,254
Papa John's International, Inc.		695		51,312
Bloomin' Brands, Inc.		1,896		50,983
Cracker Barrel Old Country Store, Inc.		501		46,683
Dave & Buster's Entertainment, Inc.*		998		44,471
Cheesecake Factory, Inc.		1,254		43,363
Total Retail				2,376,102
Internet - 16.2%
Netflix, Inc.*		1,096		482,777
Booking Holdings, Inc.*		116		313,238
Airbnb, Inc. — Class A*		2,306		295,537
DoorDash, Inc. — Class A*		2,232		170,569
Spotify Technology S.A.*		876		140,642
Trip.com Group Ltd. ADR*		3,977		139,195
Expedia Group, Inc.*		1,240		135,643
Sea Ltd. ADR*		2,195		127,398
Bilibili, Inc. ADR*,1		7,427		112,148
Roku, Inc.*		1,509		96,516
Total Internet				2,013,663
Media - 15.9%
Comcast Corp. — Class A		10,741		446,289
Walt Disney Co.*		4,696		419,259
Charter Communications, Inc. — Class A*		609		223,728
Warner Bros Discovery, Inc.*		13,039		163,509
Fox Corp. — Class A		4,045		137,530
Liberty Broadband Corp. — Class C*		1,410		112,955
News Corp. — Class A		5,775		112,612
World Wrestling Entertainment, Inc. — Class A		913		99,033
Paramount Global — Class B		5,428		86,359
Nexstar Media Group, Inc. — Class A		470		78,279
DISH Network Corp. — Class A*		8,215		54,137
Sirius XM Holdings, Inc.1		10,166		46,052
Total Media				1,979,742
Lodging - 9.3%
Marriott International, Inc. — Class A		1,282		235,490
Hilton Worldwide Holdings, Inc.		1,423		207,118
Las Vegas Sands Corp.*		2,549		147,842
MGM Resorts International		2,812		123,503
Hyatt Hotels Corp. — Class A		987		113,090
Wynn Resorts Ltd.		1,026		108,356
Wyndham Hotels & Resorts, Inc.		1,133		77,690
Boyd Gaming Corp.		1,086		75,336
Choice Hotels International, Inc.		530		62,286
Total Lodging				1,150,711
Entertainment - 8.7%
Live Nation Entertainment, Inc.*		1,447		131,836
Warner Music Group Corp. — Class A		4,496		117,301
Caesars Entertainment, Inc.*		2,191		111,675
DraftKings, Inc. — Class A*		4,191		111,355
Vail Resorts, Inc.		418		105,236
Churchill Downs, Inc.		731		101,733
Light & Wonder, Inc. — Class A*		1,213		83,406
Marriott Vacations Worldwide Corp.		519		63,692
Penn Entertainment, Inc.*		2,570		61,757
AMC Entertainment Holdings, Inc. — Class A*,1		13,343		58,709
SeaWorld Entertainment, Inc.*		829		46,432
Six Flags Entertainment Corp.*		1,706		44,322
Cinemark Holdings, Inc.*		2,545		41,992
Total Entertainment				1,079,446
Leisure Time - 7.7%
Carnival Corp.*		9,746		183,517
Norwegian Cruise Line Holdings Ltd.*		7,816		170,154
Royal Caribbean Cruises Ltd.*		1,638		169,926
Polaris, Inc.		714		86,344
Brunswick Corp.		964		83,521
Planet Fitness, Inc. — Class A*		1,206		81,333
Harley-Davidson, Inc.		2,039		71,793
YETI Holdings, Inc.*		1,605		62,338
Peloton Interactive, Inc. — Class A*		6,879		52,900
Total Leisure Time				961,826
Software - 7.3%
Activision Blizzard, Inc.*		3,201		269,844
Electronic Arts, Inc.		1,538		199,479
Take-Two Interactive Software, Inc.*		1,188		174,826
ROBLOX Corp. — Class A*		3,376		136,053
NetEase, Inc. ADR		1,323		127,921
Total Software				908,123
Agriculture - 6.8%
Philip Morris International, Inc.		4,356		425,233
Altria Group, Inc.		6,659		301,652
British American Tobacco plc ADR		3,589		119,155
Total Agriculture				846,040
Beverages - 5.7%
Constellation Brands, Inc. — Class A		863		212,410
Brown-Forman Corp. — Class B		2,867		191,458
Molson Coors Beverage Co. — Class B		1,836		120,882
Anheuser-Busch InBev S.A. ADR1		2,108		119,566

Leisure Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.3% (continued)
Beverages - 5.7% (continued)
Ambev S.A. ADR	20,317	$	64,608
Total Beverages			708,924
Toys, Games & Hobbies - 1.5%
Hasbro, Inc.	1,533		99,293
Mattel, Inc.*	4,558		89,063
Total Toys, Games & Hobbies			188,356
Food Service - 0.9%
Aramark	2,531		108,960
Commercial Services - 0.2%
Sabre Corp.*	6,957		22,193
Total Common Stocks
(Cost $8,527,197)			12,344,086

		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.2%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	12,890	12,890
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		5,671	5,671
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		5,155	5,155
Total Repurchase Agreements
(Cost $23,716)			23,716

	Shares
SECURITIES LENDING COLLATERAL†,3 - 1.3%
Money Market Fund
First American Government Obligations Fund – Class X, 5.01%4	163,155		163,155
Total Securities Lending Collateral
(Cost $163,155)			163,155
Total Investments - 100.8%
(Cost $8,714,068)		$	12,530,957
Other Assets & Liabilities, net - (0.8)%			(100,852	)
Total Net Assets - 100.0%		$	12,430,105

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	12,344,086	$	—	$	—	$	12,344,086
Repurchase Agreements		—		23,716		—		23,716
Securities Lending Collateral		163,155		—		—		163,155
Total Assets	$	12,507,241	$	23,716	$	—	$	12,530,957

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 90.1%
Consumer, Non-cyclical - 19.4%
Procter & Gamble Co.		954	$	144,760
Merck & Company, Inc.		1,199		138,353
Abbott Laboratories		1,242		135,403
Amgen, Inc.		564		125,219
Johnson & Johnson		755		124,968
Quest Diagnostics, Inc.		869		122,147
Bristol-Myers Squibb Co.		1,906		121,889
Kimberly-Clark Corp.		877		121,078
Viatris, Inc.		11,670		116,467
Hershey Co.		460		114,862
H&R Block, Inc.		3,079		98,128
Incyte Corp.*		1,518		94,495
Becton Dickinson and Co.		327		86,331
Campbell Soup Co.		1,831		83,695
J M Smucker Co.		554		81,809
Gilead Sciences, Inc.		998		76,916
John B Sanfilippo & Son, Inc.		595		69,776
United Therapeutics Corp.*		310		68,433
Perdoceo Education Corp.*		5,506		67,558
Innoviva, Inc.*		5,156		65,636
Royalty Pharma plc — Class A		2,130		65,476
Vector Group Ltd.		4,816		61,693
Vertex Pharmaceuticals, Inc.*		151		53,138
Edwards Lifesciences Corp.*		553		52,164
Humana, Inc.		116		51,867
USANA Health Sciences, Inc.*		821		51,756
Premier, Inc. — Class A		1,763		48,764
Exelixis, Inc.*		2,529		48,329
Neurocrine Biosciences, Inc.*		478		45,075
Hackett Group, Inc.		2,008		44,879
Cardinal Health, Inc.		458		43,313
Quanex Building Products Corp.		1,574		42,262
Dynavax Technologies Corp.*		3,118		40,285
AMN Healthcare Services, Inc.*		368		40,156
Grand Canyon Education, Inc.*		380		39,220
Pfizer, Inc.		981		35,983
QIAGEN N.V.*		796		35,844
Perrigo Company plc		1,042		35,376
Molina Healthcare, Inc.*		101		30,425
Supernus Pharmaceuticals, Inc.*		972		29,218
Prestige Consumer Healthcare, Inc.*		435		25,852
Moderna, Inc.*		205		24,908
Eagle Pharmaceuticals, Inc.*		1,267		24,630
Dexcom, Inc.*		186		23,903
Vir Biotechnology, Inc.*		943		23,132
Total Consumer, Non-cyclical				3,075,571
Industrial - 17.6%
ITT, Inc.		1,430		133,290
Fortive Corp.		1,771		132,418
Snap-on, Inc.		455		131,126
Dover Corp.		854		126,093
3M Co.		1,212		121,309
Landstar System, Inc.		625		120,337
Donaldson Company, Inc.		1,785		111,580
Builders FirstSource, Inc.*		753		102,408
Standex International Corp.		721		102,000
Eagle Materials, Inc.		540		100,667
UFP Industries, Inc.		1,001		97,147
Textron, Inc.		1,378		93,194
Mueller Industries, Inc.		1,049		91,557
Boise Cascade Co.		968		87,459
Jabil, Inc.		773		83,430
Nordson Corp.		331		82,148
Curtiss-Wright Corp.		442		81,178
Teledyne Technologies, Inc.*		197		80,989
Armstrong World Industries, Inc.		1,051		77,206
Toro Co.		733		74,509
Acuity Brands, Inc.		430		70,124
Vishay Intertechnology, Inc.		2,331		68,531
Louisiana-Pacific Corp.		897		67,257
Sturm Ruger & Company, Inc.		1,137		60,216
Masco Corp.		961		55,142
Golar LNG Ltd.		2,646		53,370
Expeditors International of Washington, Inc.		437		52,934
Simpson Manufacturing Company, Inc.		377		52,215
Keysight Technologies, Inc.*		300		50,235
Garmin Ltd.		377		39,317
Scorpio Tankers, Inc.		723		34,147
Ardmore Shipping Corp.		2,694		33,271
Advanced Energy Industries, Inc.		279		31,095
International Seaways, Inc.		804		30,745
GrafTech International Ltd.		5,185		26,132
Lindsay Corp.		196		23,391
Total Industrial				2,778,167
Consumer, Cyclical - 11.2%
Yum! Brands, Inc.		889		123,171
MSC Industrial Direct Company, Inc. — Class A		1,262		120,243
Gentex Corp.		3,762		110,076
Dolby Laboratories, Inc. — Class A		1,305		109,202
PulteGroup, Inc.		1,366		106,111
Lowe's Companies, Inc.		459		103,596
Tri Pointe Homes, Inc.*		3,062		100,617
Allison Transmission Holdings, Inc.		1,602		90,449
MDC Holdings, Inc.		1,882		88,021
Brunswick Corp.		988		85,600
DR Horton, Inc.		690		83,966
Patrick Industries, Inc.		839		67,120
Boyd Gaming Corp.		965		66,942
PetMed Express, Inc.		4,356		60,069
Starbucks Corp.		528		52,304
Taylor Morrison Home Corp. — Class A*		1,005		49,014
Meritage Homes Corp.		321		45,669
NVR, Inc.*		7		44,454
NIKE, Inc. — Class B		393		43,375
Monarch Casino & Resort, Inc.		608		42,834
Buckle, Inc.		1,215		42,039
Home Depot, Inc.		132		41,005
Cavco Industries, Inc.*		132		38,940
Green Brick Partners, Inc.*		458		26,015
Academy Sports & Outdoors, Inc.		474		25,620
Total Consumer, Cyclical				1,766,452

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 90.1% (continued)
Technology - 11.0%
Apple, Inc.		1,341	$	260,114
Microsoft Corp.		676		230,205
NetApp, Inc.		1,453		111,009
Applied Materials, Inc.		738		106,671
KLA Corp.		193		93,609
Kulicke & Soffa Industries, Inc.		1,419		84,360
Dropbox, Inc. — Class A*		2,988		79,690
Electronic Arts, Inc.		595		77,172
Akamai Technologies, Inc.*		736		66,144
Cognizant Technology Solutions Corp. — Class A		1,012		66,063
Concentrix Corp.		810		65,407
NetScout Systems, Inc.*		2,071		64,098
Teradyne, Inc.		531		59,116
Diodes, Inc.*		605		55,956
Photronics, Inc.*		1,509		38,917
Veradigm, Inc.*		2,425		30,555
Microchip Technology, Inc.		330		29,565
Autodesk, Inc.*		144		29,464
NXP Semiconductor N.V.		140		28,655
Manhattan Associates, Inc.*		141		28,183
Qualys, Inc.*		211		27,255
Teradata Corp.*		509		27,186
Power Integrations, Inc.		269		25,466
NVIDIA Corp.		60		25,381
QUALCOMM, Inc.		205		24,403
Total Technology				1,734,644
Financial - 9.7%
Weyerhaeuser Co. REIT		4,092		137,123
Essent Group Ltd.		2,575		120,510
SEI Investments Co.		2,019		120,373
MGIC Investment Corp.		7,608		120,130
SouthState Corp.		1,772		116,598
Equity Commonwealth REIT		5,698		115,441
Preferred Bank/Los Angeles CA		2,068		113,719
Radian Group, Inc.		3,008		76,042
Evercore, Inc. — Class A		593		73,289
Mr Cooper Group, Inc.*		1,234		62,490
NMI Holdings, Inc. — Class A*		2,316		59,799
Lazard Ltd. — Class A		1,505		48,160
Brightsphere Investment Group, Inc.		1,922		40,266
Southside Bancshares, Inc.		1,428		37,357
S&T Bancorp, Inc.		1,323		35,973
Renasant Corp.		1,318		34,439
Marcus & Millichap, Inc.		1,065		33,558
FB Financial Corp.		1,104		30,967
Discover Financial Services		250		29,212
Hilltop Holdings, Inc.		881		27,716
International Bancshares Corp.		565		24,973
Travelers Companies, Inc.		134		23,270
Allstate Corp.		212		23,117
BOK Financial Corp.		286		23,103
Total Financial				1,527,625
Communications - 7.1%
Cisco Systems, Inc.		2,596		134,317
Omnicom Group, Inc.		1,288		122,553
VeriSign, Inc.*		524		118,408
Alphabet, Inc. — Class C*		905		109,478
Yelp, Inc. — Class A*		2,127		77,444
Motorola Solutions, Inc.		238		69,801
Meta Platforms, Inc. — Class A*		210		60,266
Nexstar Media Group, Inc. — Class A		344		57,293
A10 Networks, Inc.		3,774		55,063
Verizon Communications, Inc.		1,405		52,252
T-Mobile US, Inc.*		335		46,531
InterDigital, Inc.		384		37,075
Booking Holdings, Inc.*		13		35,104
Extreme Networks, Inc.*		1,213		31,599
Gen Digital, Inc.		1,594		29,569
eBay, Inc.		643		28,736
Ziff Davis, Inc.*		405		28,374
Amazon.com, Inc.*		186		24,247
Total Communications				1,118,110
Utilities - 6.6%
Atmos Energy Corp.		1,024		119,132
Ameren Corp.		1,446		118,095
OGE Energy Corp.		3,283		117,893
MGE Energy, Inc.		1,471		116,371
Consolidated Edison, Inc.		1,281		115,802
Black Hills Corp.		1,889		113,831
ONE Gas, Inc.		1,446		111,068
National Fuel Gas Co.		1,739		89,315
Clearway Energy, Inc. — Class C		2,642		75,455
Chesapeake Utilities Corp.		629		74,851
Total Utilities				1,051,813
Energy - 5.5%
Exxon Mobil Corp.		1,378		147,791
Marathon Petroleum Corp.		1,110		129,426
Valero Energy Corp.		937		109,910
Chevron Corp.		477		75,056
Phillips 66		772		73,633
Cheniere Energy, Inc.		437		66,581
Occidental Petroleum Corp.		751		44,159
Matador Resources Co.		778		40,705
Magnolia Oil & Gas Corp. — Class A		1,880		39,292
SM Energy Co.		1,228		38,842
PBF Energy, Inc. — Class A		928		37,992
Civitas Resources, Inc.		503		34,893
REX American Resources Corp.*		839		29,206
Total Energy				867,486
Basic Materials - 2.0%
Westlake Corp.		757		90,439
NewMarket Corp.		184		73,990
LyondellBasell Industries N.V. — Class A		757		69,515
Olin Corp.		987		50,722
CF Industries Holdings, Inc.		499		34,641
Total Basic Materials				319,307
Total Common Stocks
(Cost $13,190,756)				14,239,175

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
MONEY MARKET FUND† - 5.4%
Invesco Short-Term Investments Treasury Obligations Portfolio — Institutional Class, 4.95%1	848,772	$	848,772
Total Money Market Fund
(Cost $848,772)			848,772
Total Investments - 95.5%
(Cost $14,039,528)		$	15,087,947
Other Assets & Liabilities, net - 4.5%			714,694
Total Net Assets - 100.0%		$	15,802,641

Custom Basket Swap Agreements

Counterparty	Reference Obligation	Type		Financing Rate	Payment Frequency	Maturity Date	Notional Amount		Value and Unrealized Appreciation (Depreciation)
OTC Custom Basket Swap Agreements††
Goldman Sachs International	GS Equity Custom Basket		Pay	5.52% (Federal Funds Rate + 0.45%)	At Maturity	05/06/24	$	7,123,939	$	524,258
Morgan Stanley Capital Services LLC	MS Equity Custom Basket		Pay	5.47% (Federal Funds Rate + 0.40%)	At Maturity	03/27/24		7,123,951		521,540
							$	14,247,890	$	1,045,798
OTC Custom Basket Swap Agreements Sold Short††
Goldman Sachs International	GS Equity Custom Basket		Receive	4.87% (Federal Funds Rate - 0.20%)	At Maturity	05/06/24	$	8,567,903	$	(264,115	)
Morgan Stanley Capital Services LLC	MS Equity Custom Basket		Receive	4.77% (Federal Funds Rate - 0.30%)	At Maturity	03/27/24		8,645,932		(264,447	)
							$	17,213,835	$	(528,562	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

GS EQUITY LONG CUSTOM BASKET
	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Consumer, Non-cyclical
Vertex Pharmaceuticals, Inc.		75		0.37	%	$	11,376
John B Sanfilippo & Son, Inc.		298		0.49	%		11,222
Johnson & Johnson		377		0.88	%		4,541
Perdoceo Education Corp.		2,753		0.47	%		4,405
Kimberly-Clark Corp.		438		0.85	%		4,122
Viatris, Inc.		5,835		0.82	%		3,706
Edwards Lifesciences Corp.		277		0.37	%		3,623
Quanex Building Products Corp.		787		0.30	%		3,153
Hackett Group, Inc.		1,004		0.31	%		3,108
Exelixis, Inc.		1,264		0.34	%		2,368
Cardinal Health, Inc.		229		0.30	%		2,221
Dynavax Technologies Corp.		1,559		0.28	%		2,144
AMN Healthcare Services, Inc.		184		0.28	%		1,899
Quest Diagnostics, Inc.		434		0.86	%		1,797
Becton Dickinson and Co.		164		0.61	%		1,639
Vector Group Ltd.		2,408		0.43	%		1,492
H&R Block, Inc.		1,539		0.69	%		1,017
Bristol-Myers Squibb Co.		953		0.86	%		997
Dexcom, Inc.		93		0.17	%		706
Merck & Company, Inc.		600		0.97	%		572
Perrigo Company plc		521		0.25	%		437
Molina Healthcare, Inc.		51		0.22	%		428
Innoviva, Inc.		2,578		0.46	%		181
United Therapeutics Corp.		155		0.48	%		(30	)
Abbott Laboratories		621		0.95	%		(68	)
Prestige Consumer Healthcare, Inc.		217		0.18	%		(364	)
QIAGEN N.V.		398		0.25	%		(370	)
Moderna, Inc.		102		0.17	%		(850	)
Vir Biotechnology, Inc.		471		0.16	%		(1,089	)
USANA Health Sciences, Inc.		410		0.36	%		(1,527	)
Gilead Sciences, Inc.		499		0.54	%		(1,556	)
Supernus Pharmaceuticals, Inc.		486		0.21	%		(1,730	)
Procter & Gamble Co.		477		1.02	%		(1,787	)
Hershey Co.		230		0.81	%		(1,948	)
Amgen, Inc.		282		0.88	%		(2,086	)
Grand Canyon Education, Inc.		190		0.28	%		(2,205	)
Premier, Inc. — Class A		881		0.34	%		(2,770	)
J M Smucker Co.		277		0.57	%		(2,817	)
Pfizer, Inc.		491		0.25	%		(3,658	)
Neurocrine Biosciences, Inc.		239		0.32	%		(3,860	)
Humana, Inc.		58		0.36	%		(4,492	)
Incyte Corp.		759		0.66	%		(6,674	)
Campbell Soup Co.		916		0.59	%		(8,513	)
Eagle Pharmaceuticals, Inc.		633		0.17	%		(11,074	)
Royalty Pharma plc — Class A		1,065		0.46	%		(12,173	)
Total Consumer, Non-cyclical							(4,487	)
Communications
Alphabet, Inc. — Class C		452		0.77	%		25,222
Meta Platforms, Inc. — Class A		105		0.42	%		14,244
Yelp, Inc. — Class A		1,063		0.54	%		8,514
Cisco Systems, Inc.		1,298		0.94	%		8,402
Extreme Networks, Inc.		606		0.22	%		4,164
Omnicom Group, Inc.		644		0.86	%		3,563
Amazon.com, Inc.		93		0.17	%		3,359
InterDigital, Inc.		192		0.26	%		2,353
Nexstar Media Group, Inc. — Class A		172		0.40	%		1,679
Motorola Solutions, Inc.		119		0.49	%		917
T-Mobile US, Inc.		168		0.33	%		724
Booking Holdings, Inc.		7		0.27	%		635
Gen Digital, Inc.		797		0.21	%		403
VeriSign, Inc.		262		0.83	%		119
eBay, Inc.		322		0.20	%		(105	)
Verizon Communications, Inc.		702		0.37	%		(596	)
A10 Networks, Inc.		1,887		0.39	%		(597	)
Ziff Davis, Inc.		202		0.20	%		(3,494	)
Total Communications							69,506
Consumer, Cyclical
Allison Transmission Holdings, Inc.		801		0.63	%		14,455
PulteGroup, Inc.		683		0.74	%		12,352
DR Horton, Inc.		345		0.59	%		9,498
MDC Holdings, Inc.		941		0.62	%		8,003
Boyd Gaming Corp.		482		0.47	%		6,425
Brunswick Corp.		494		0.60	%		6,162
Taylor Morrison Home Corp. — Class A		503		0.34	%		5,870
Patrick Industries, Inc.		419		0.47	%		5,362
Tri Pointe Homes, Inc.		1,531		0.71	%		5,006
Lowe's Companies, Inc.		229		0.73	%		4,297
MSC Industrial Direct Company, Inc. — Class A		631		0.84	%		4,067
Meritage Homes Corp.		160		0.32	%		3,344
NVR, Inc.		4		0.36	%		2,650
Yum! Brands, Inc.		444		0.86	%		2,028
Cavco Industries, Inc.		66		0.27	%		1,789
Home Depot, Inc.		66		0.29	%		1,524
Academy Sports & Outdoors, Inc.		237		0.18	%		1,341
Green Brick Partners, Inc.		229		0.18	%		1,170
Gentex Corp.		1,881		0.77	%		1,119
Monarch Casino & Resort, Inc.		304		0.30	%		750
Dolby Laboratories, Inc. — Class A		652		0.77	%		634
Starbucks Corp.		264		0.37	%		(221	)
PetMed Express, Inc.		2,178		0.42	%		(2,011	)
NIKE, Inc. — Class B		197		0.31	%		(2,063	)
Buckle, Inc.		607		0.29	%		(2,722	)
Total Consumer, Cyclical							90,829
Industrial
Standex International Corp.		360		0.71	%		19,018
Snap-on, Inc.		228		0.92	%		15,645
Vishay Intertechnology, Inc.		1,166		0.48	%		15,051
Mueller Industries, Inc.		524		0.64	%		14,802
Eagle Materials, Inc.		270		0.71	%		14,498

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares	Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Jabil, Inc.	386	0.58	%	$	11,811
Louisiana-Pacific Corp.	448	0.47	%		9,616
Fortive Corp.	886	0.93	%		8,541
Donaldson Company, Inc.	893	0.78	%		7,820
Builders FirstSource, Inc.	376	0.72	%		7,763
Boise Cascade Co.	484	0.61	%		7,762
UFP Industries, Inc.	501	0.68	%		6,441
Simpson Manufacturing Company, Inc.	189	0.37	%		5,217
Landstar System, Inc.	313	0.85	%		4,498
Curtiss-Wright Corp.	221	0.57	%		4,257
Advanced Energy Industries, Inc.	140	0.22	%		4,021
Nordson Corp.	166	0.58	%		3,859
ITT, Inc.	715	0.94	%		3,677
Masco Corp.	480	0.39	%		3,283
Armstrong World Industries, Inc.	526	0.54	%		2,946
Textron, Inc.	689	0.65	%		2,924
Keysight Technologies, Inc.	150	0.35	%		1,637
Dover Corp.	427	0.89	%		1,577
Expeditors International of Washington, Inc.	219	0.37	%		1,493
International Seaways, Inc.	402	0.22	%		815
Ardmore Shipping Corp.	1,347	0.23	%		356
Scorpio Tankers, Inc.	361	0.24	%		303
Toro Co.	366	0.52	%		222
GrafTech International Ltd.	2,593	0.18	%		216
Teledyne Technologies, Inc.	98	0.57	%		96
Garmin Ltd.	189	0.28	%		(231	)
Golar LNG Ltd.	1,323	0.37	%		(1,794	)
Acuity Brands, Inc.	215	0.49	%		(2,761	)
Lindsay Corp.	98	0.16	%		(3,055	)
Sturm Ruger & Company, Inc.	568	0.42	%		(4,684	)
3M Co.	606	0.85	%		(5,983	)
Total Industrial					161,657
Technology
Apple, Inc.	671	1.83	%		57,768
Microsoft Corp.	338	1.62	%		48,784
NetApp, Inc.	726	0.78	%		10,371
KLA Corp.	96	0.65	%		6,811
Dropbox, Inc. — Class A	1,494	0.56	%		5,730
Kulicke & Soffa Industries, Inc.	709	0.59	%		5,456
Diodes, Inc.	303	0.39	%		5,444
Teradyne, Inc.	266	0.42	%		5,165
Teradata Corp.	254	0.19	%		4,904
Applied Materials, Inc.	369	0.75	%		4,006
Photronics, Inc.	755	0.27	%		3,264
Microchip Technology, Inc.	165	0.21	%		2,708
NXP Semiconductor N.V.	70	0.20	%		2,035
Cognizant Technology Solutions Corp. — Class A	506	0.46	%		1,729
QUALCOMM, Inc.	102	0.17	%		1,457
Manhattan Associates, Inc.	71	0.20	%		1,117
Qualys, Inc.	105	0.19	%		1,115
NVIDIA Corp.	30	0.18	%		1,047
Power Integrations, Inc.	135	0.18	%		1,025
Veradigm, Inc.	1,213	0.21	%		1,013
NetScout Systems, Inc.	1,035	0.45	%		724
Electronic Arts, Inc.	298	0.54	%		667
Autodesk, Inc.	72	0.21	%		(153	)
Akamai Technologies, Inc.	368	0.46	%		(1,516	)
Concentrix Corp.	405	0.46	%		(2,755	)
Total Technology					167,916
Financial
Weyerhaeuser Co.	2,046	0.96	%		8,076
Essent Group Ltd.	1,288	0.85	%		6,471
MGIC Investment Corp.	3,804	0.84	%		5,949
Evercore, Inc. — Class A	297	0.52	%		5,762
NMI Holdings, Inc. — Class A	1,158	0.42	%		5,612
Radian Group, Inc.	1,504	0.53	%		4,947
Preferred Bank/Los Angeles CA	1,034	0.80	%		3,632
Mr Cooper Group, Inc.	617	0.44	%		2,144
Lazard Ltd. — Class A	753	0.34	%		1,439
Hilltop Holdings, Inc.	441	0.19	%		1,288
Discover Financial Services	125	0.21	%		964
SouthState Corp.	886	0.82	%		632
SEI Investments Co.	1,009	0.84	%		288
International Bancshares Corp.	283	0.18	%		240
Brightsphere Investment Group, Inc.	961	0.28	%		148
Allstate Corp.	106	0.16	%		(68	)
Travelers Companies, Inc.	67	0.16	%		(88	)
S&T Bancorp, Inc.	662	0.25	%		(666	)
Equity Commonwealth	2,849	0.81	%		(1,080	)
Marcus & Millichap, Inc.	532	0.24	%		(2,430	)
BOK Financial Corp.	143	0.16	%		(3,096	)
Renasant Corp.	659	0.24	%		(4,487	)
FB Financial Corp.	552	0.22	%		(5,005	)
Southside Bancshares, Inc.	714	0.26	%		(7,474	)
Total Financial					23,198
Utilities
MGE Energy, Inc.	736	0.82	%		3,553
Atmos Energy Corp.	512	0.84	%		905
ONE Gas, Inc.	723	0.78	%		244
Chesapeake Utilities Corp.	314	0.52	%		141
Ameren Corp.	723	0.83	%		(98	)
Black Hills Corp.	944	0.80	%		(1,527	)
Consolidated Edison, Inc.	641	0.81	%		(1,559	)
National Fuel Gas Co.	869	0.63	%		(3,432	)
OGE Energy Corp.	1,641	0.83	%		(5,198	)
Clearway Energy, Inc. — Class C	1,321	0.53	%		(6,538	)
Total Utilities					(13,509	)
Basic Materials
NewMarket Corp.	92	0.52	%		8,095
CF Industries Holdings, Inc.	249	0.24	%		(152	)
LyondellBasell Industries N.V. — Class A	378	0.49	%		(515	)
Westlake Corp.	378	0.63	%		(989	)
Olin Corp.	494	0.36	%		(1,889	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares	Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Total Basic Materials				$	4,550
Energy
Exxon Mobil Corp.	689	1.04	%		7,824
Marathon Petroleum Corp.	555	0.91	%		6,588
SM Energy Co.	614	0.27	%		2,970
REX American Resources Corp.	420	0.21	%		2,140
PBF Energy, Inc. — Class A	464	0.27	%		1,975
Matador Resources Co.	389	0.29	%		1,964
Valero Energy Corp.	469	0.77	%		1,957
Cheniere Energy, Inc.	219	0.47	%		1,796
Chevron Corp.	239	0.53	%		889
Civitas Resources, Inc.	251	0.24	%		(112	)
Phillips 66	386	0.52	%		(376	)
Magnolia Oil & Gas Corp. — Class A	940	0.28	%		(994	)
Occidental Petroleum Corp.	375	0.31	%		(2,023	)
Total Energy					24,598
Total GS Equity Long Custom Basket				$	524,258
GS EQUITY SHORT CUSTOM BASKET
Consumer, Non-cyclical
Driven Brands Holdings, Inc.	3,699	(1.13	)%		7,862
ABM Industries, Inc.	1,885	(0.94	)%		5,286
ManpowerGroup, Inc.	469	(0.43	)%		3,350
Global Payments, Inc.	638	(0.73	)%		3,138
Utz Brands, Inc.	2,476	(0.47	)%		2,083
Keurig Dr Pepper, Inc.	2,139	(0.78	)%		256
Performance Food Group Co.	720	(0.51	)%		(219	)
Constellation Brands, Inc. — Class A	177	(0.51	)%		(308	)
Verisk Analytics, Inc. — Class A	242	(0.64	)%		(700	)
Equifax, Inc.	403	(1.11	)%		(1,762	)
FTI Consulting, Inc.	332	(0.74	)%		(1,985	)
RadNet, Inc.	1,290	(0.49	)%		(2,820	)
TreeHouse Foods, Inc.	1,122	(0.66	)%		(3,308	)
Estee Lauder Companies, Inc. — Class A	371	(0.85	)%		(5,381	)
AmerisourceBergen Corp. — Class A	423	(0.95	)%		(7,792	)
Quanta Services, Inc.	457	(1.05	)%		(8,201	)
Booz Allen Hamilton Holding Corp.	579	(0.75	)%		(10,126	)
ICF International, Inc.	574	(0.83	)%		(11,766	)
TransUnion	1,478	(1.35	)%		(14,018	)
CoStar Group, Inc.	1,159	(1.20	)%		(16,171	)
GXO Logistics, Inc.	1,219	(0.89	)%		(18,280	)
Neogen Corp.	4,701	(1.19	)%		(19,903	)
Total Consumer, Non-cyclical					(100,765	)
Financial
Sun Communities, Inc.	772	(1.18	)%		27,468
Alexandria Real Estate Equities, Inc.	504	(0.67	)%		19,347
Rexford Industrial Realty, Inc.	1,900	(1.16	)%		16,445
American Tower Corp. — Class A	584	(1.32	)%		13,656
Howard Hughes Corp.	991	(0.91	)%		12,597
Kennedy-Wilson Holdings, Inc.	5,143	(0.98	)%		10,191
Healthcare Realty Trust, Inc.	4,115	(0.91	)%		8,585
Equitable Holdings, Inc.	4,164	(1.32	)%		7,843
Kemper Corp.	971	(0.55	)%		6,460
Raymond James Financial, Inc.	1,228	(1.49	)%		6,330
Americold Realty Trust, Inc.	2,832	(1.07	)%		5,965
Outfront Media, Inc.	4,034	(0.74	)%		4,913
Rayonier, Inc.	3,136	(1.15	)%		3,600
TFS Financial Corp.	3,065	(0.45	)%		3,481
Equinix, Inc.	128	(1.17	)%		3,171
Prologis, Inc.	689	(0.99	)%		2,589
Assured Guaranty Ltd.	1,377	(0.90	)%		2,050
Voya Financial, Inc.	818	(0.68	)%		1,850
Progressive Corp.	561	(0.87	)%		1,196
Stellar Bancorp, Inc.	2,136	(0.57	)%		741
Popular, Inc.	720	(0.51	)%		475
Northern Trust Corp.	869	(0.75	)%		305
Hanover Insurance Group, Inc.	574	(0.76	)%		(90	)
Crown Castle, Inc.	323	(0.43	)%		(213	)
SBA Communications Corp.	123	(0.33	)%		(956	)
KKR & Company, Inc. — Class A	1,873	(1.22	)%		(1,005	)
Annaly Capital Management, Inc.	2,457	(0.57	)%		(1,123	)
State Street Corp.	864	(0.74	)%		(1,338	)
Air Lease Corp. — Class A	1,194	(0.58	)%		(2,163	)
First Financial Bancorp	2,514	(0.60	)%		(2,545	)
CBRE Group, Inc. — Class A	633	(0.60	)%		(2,810	)
Boston Properties, Inc.	467	(0.31	)%		(3,056	)
Brighthouse Financial, Inc.	2,703	(1.49	)%		(3,193	)
AGNC Investment Corp.	4,409	(0.52	)%		(3,195	)
Medical Properties Trust, Inc.	4,629	(0.50	)%		(3,320	)
UDR, Inc.	2,434	(1.22	)%		(4,140	)
Jones Lang LaSalle, Inc.	339	(0.62	)%		(4,261	)
Ellington Financial, Inc.	4,267	(0.69	)%		(4,308	)
UMH Properties, Inc.	4,672	(0.87	)%		(4,792	)
PennyMac Mortgage Investment Trust	3,955	(0.62	)%		(5,005	)
Welltower, Inc.	995	(0.94	)%		(5,576	)
PennyMac Financial Services, Inc.	1,214	(1.00	)%		(9,110	)
Iron Mountain, Inc.	1,930	(1.28	)%		(10,230	)
Apollo Global Management, Inc.	857	(0.77	)%		(10,958	)
Ares Management Corp. — Class A	922	(1.04	)%		(13,810	)
Digital Realty Trust, Inc.	947	(1.26	)%		(17,000	)
Total Financial					45,061
Consumer, Cyclical
UniFirst Corp.	360	(0.65	)%		16,222
Newell Brands, Inc.	9,688	(0.98	)%		314

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares	Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Ollie's Bargain Outlet Holdings, Inc.	403	(0.27	)%	$	236
OPENLANE, Inc.	4,070	(0.72	)%		(386	)
Alaska Air Group, Inc.	741	(0.46	)%		(1,245	)
Burlington Stores, Inc.	268	(0.49	)%		(2,195	)
Five Below, Inc.	214	(0.49	)%		(2,619	)
Shake Shack, Inc. — Class A	595	(0.54	)%		(5,464	)
VF Corp.	4,705	(1.05	)%		(5,792	)
Floor & Decor Holdings, Inc. — Class A	669	(0.81	)%		(15,023	)
Copart, Inc.	1,030	(1.10	)%		(28,365	)
Total Consumer, Cyclical					(44,317	)
Basic Materials
Hecla Mining Co.	7,607	(0.46	)%		7,097
Royal Gold, Inc.	462	(0.62	)%		4,421
ATI, Inc.	1,270	(0.66	)%		(8,312	)
Carpenter Technology Corp.	963	(0.63	)%		(16,356	)
Total Basic Materials					(13,150	)
Utilities
Avista Corp.	2,273	(1.04	)%		9,370
California Water Service Group	1,149	(0.69	)%		5,979
Spire, Inc.	850	(0.63	)%		5,806
Sempra Energy	704	(1.20	)%		5,131
Dominion Energy, Inc.	1,146	(0.69	)%		4,257
Entergy Corp.	518	(0.59	)%		3,751
UGI Corp.	2,330	(0.73	)%		1,248
CMS Energy Corp.	1,572	(1.08	)%		1,087
PG&E Corp.	5,439	(1.10	)%		325
American Electric Power Company, Inc.	1,359	(1.34	)%		(543	)
Alliant Energy Corp.	1,771	(1.08	)%		(618	)
DTE Energy Co.	823	(1.06	)%		(862	)
Exelon Corp.	1,696	(0.81	)%		(1,467	)
Edison International	1,364	(1.11	)%		(3,831	)
Total Utilities					29,633
Technology
Evolent Health, Inc. — Class A	1,498	(0.53	)%		1,178
Alteryx, Inc. — Class A	555	(0.29	)%		(1,962	)
KBR, Inc.	810	(0.62	)%		(2,843	)
Paycor HCM, Inc.	1,862	(0.51	)%		(3,028	)
Oracle Corp.	324	(0.45	)%		(6,853	)
Ceridian HCM Holding, Inc.	1,341	(1.05	)%		(12,315	)
Total Technology					(25,823	)
Industrial
TD SYNNEX Corp.	697	(0.76	)%		2,094
Waste Management, Inc.	571	(1.16	)%		(1,053	)
Boeing Co.	339	(0.84	)%		(4,195	)
MasTec, Inc.	377	(0.52	)%		(6,745	)
Kirby Corp.	720	(0.65	)%		(6,827	)
NV5 Global, Inc.	438	(0.57	)%		(6,913	)
Tetra Tech, Inc.	320	(0.61	)%		(9,849	)
Clean Harbors, Inc.	342	(0.66	)%		(10,098	)
Avnet, Inc.	2,139	(1.26	)%		(14,638	)
Casella Waste Systems, Inc. — Class A	869	(0.92	)%		(19,289	)
MSA Safety, Inc.	561	(1.14	)%		(27,427	)
Total Industrial					(104,940	)
Communications
Robinhood Markets, Inc. — Class A	2,146	(0.25	)%		(784	)
Palo Alto Networks, Inc.	97	(0.29	)%		(866	)
Chewy, Inc. — Class A	968	(0.45	)%		(3,448	)
DoorDash, Inc. — Class A	670	(0.60	)%		(7,669	)
Uber Technologies, Inc.	586	(0.30	)%		(8,657	)
Total Communications					(21,424	)
Energy
NOV, Inc.	4,028	(0.75	)%		17,566
Noble Corporation plc	990	(0.48	)%		(3,098	)
Valaris Ltd.	759	(0.56	)%		(7,506	)
Tidewater, Inc.	810	(0.52	)%		(9,959	)
Hess Corp.	874	(1.39	)%		(10,447	)
Schlumberger N.V.	2,253	(1.29	)%		(14,946	)
Total Energy					(28,390	)
Total GS Equity Short Custom Basket				$	(264,115	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

MS EQUITY LONG CUSTOM BASKET
	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Consumer, Non-cyclical
Vertex Pharmaceuticals, Inc.		75		0.37	%	$	11,408
John B Sanfilippo & Son, Inc.		298		0.49	%		11,210
Johnson & Johnson		377		0.88	%		4,561
Perdoceo Education Corp.		2,753		0.47	%		4,434
Kimberly-Clark Corp.		438		0.85	%		4,122
Viatris, Inc.		5,835		0.82	%		3,738
Edwards Lifesciences Corp.		277		0.37	%		3,610
Quanex Building Products Corp.		787		0.30	%		3,158
Hackett Group, Inc.		1,004		0.31	%		3,116
Exelixis, Inc.		1,264		0.34	%		2,338
Cardinal Health, Inc.		229		0.30	%		2,223
Dynavax Technologies Corp.		1,559		0.28	%		2,125
AMN Healthcare Services, Inc.		184		0.28	%		1,946
Quest Diagnostics, Inc.		434		0.86	%		1,727
Becton Dickinson and Co.		164		0.61	%		1,656
Vector Group Ltd.		2,408		0.43	%		1,470
H&R Block, Inc.		1,539		0.69	%		1,155
Bristol-Myers Squibb Co.		953		0.86	%		963
Dexcom, Inc.		93		0.17	%		709
Merck & Company, Inc.		600		0.97	%		536
Molina Healthcare, Inc.		51		0.22	%		455
Perrigo Company plc		521		0.25	%		454
Innoviva, Inc.		2,578		0.46	%		273
United Therapeutics Corp.		155		0.48	%		(41	)
Abbott Laboratories		621		0.95	%		(64	)
Prestige Consumer Healthcare, Inc.		217		0.18	%		(362	)
QIAGEN N.V.		398		0.25	%		(363	)
Moderna, Inc.		102		0.17	%		(838	)
Vir Biotechnology, Inc.		471		0.16	%		(1,050	)
USANA Health Sciences, Inc.		410		0.36	%		(1,466	)
Gilead Sciences, Inc.		499		0.54	%		(1,539	)
Supernus Pharmaceuticals, Inc.		486		0.21	%		(1,757	)
Hershey Co.		230		0.81	%		(1,885	)
Procter & Gamble Co.		477		1.02	%		(1,917	)
Grand Canyon Education, Inc.		190		0.28	%		(2,201	)
Amgen, Inc.		282		0.88	%		(2,298	)
Premier, Inc. — Class A		881		0.34	%		(2,759	)
J M Smucker Co.		277		0.57	%		(2,895	)
Pfizer, Inc.		491		0.25	%		(3,654	)
Neurocrine Biosciences, Inc.		239		0.32	%		(3,848	)
Humana, Inc.		58		0.36	%		(4,509	)
Incyte Corp.		759		0.66	%		(6,852	)
Campbell Soup Co.		916		0.59	%		(8,533	)
Eagle Pharmaceuticals, Inc.		633		0.17	%		(10,913	)
Royalty Pharma plc — Class A		1,065		0.46	%		(12,305	)
Total Consumer, Non-cyclical							(4,662	)
Communications
Alphabet, Inc. — Class C		452		0.77	%		24,121
Meta Platforms, Inc. — Class A		105		0.42	%		14,221
Yelp, Inc. — Class A		1,063		0.54	%		8,454
Cisco Systems, Inc.		1,298		0.94	%		8,340
Extreme Networks, Inc.		606		0.22	%		4,157
Omnicom Group, Inc.		644		0.86	%		3,469
Amazon.com, Inc.		93		0.17	%		3,332
InterDigital, Inc.		192		0.26	%		2,322
Nexstar Media Group, Inc. — Class A		172		0.40	%		1,674
Motorola Solutions, Inc.		119		0.49	%		929
T-Mobile US, Inc.		168		0.33	%		739
Booking Holdings, Inc.		7		0.27	%		591
Gen Digital, Inc.		797		0.21	%		407
VeriSign, Inc.		262		0.83	%		126
eBay, Inc.		322		0.20	%		(154	)
A10 Networks, Inc.		1,887		0.39	%		(550	)
Verizon Communications, Inc.		702		0.37	%		(568	)
Ziff Davis, Inc.		202		0.20	%		(3,510	)
Total Communications							68,100
Consumer, Cyclical
Allison Transmission Holdings, Inc.		801		0.63	%		14,459
PulteGroup, Inc.		683		0.74	%		12,314
DR Horton, Inc.		345		0.59	%		9,461
MDC Holdings, Inc.		941		0.62	%		8,001
Boyd Gaming Corp.		482		0.47	%		6,375
Brunswick Corp.		494		0.60	%		6,099
Taylor Morrison Home Corp. — Class A		503		0.34	%		5,851
Patrick Industries, Inc.		419		0.47	%		5,355
Tri Pointe Homes, Inc.		1,531		0.71	%		4,933
Lowe's Companies, Inc.		229		0.73	%		4,303
MSC Industrial Direct Company, Inc. — Class A		631		0.84	%		4,008
Meritage Homes Corp.		160		0.32	%		3,324
NVR, Inc.		4		0.36	%		2,641
Yum! Brands, Inc.		444		0.86	%		2,024
Cavco Industries, Inc.		66		0.27	%		1,795
Home Depot, Inc.		66		0.29	%		1,540
Academy Sports & Outdoors, Inc.		237		0.18	%		1,319
Green Brick Partners, Inc.		229		0.18	%		1,160
Gentex Corp.		1,881		0.77	%		1,128
Monarch Casino & Resort, Inc.		304		0.30	%		768
Dolby Laboratories, Inc. — Class A		652		0.77	%		615
Starbucks Corp.		264		0.37	%		(217	)
PetMed Express, Inc.		2,178		0.42	%		(2,013	)
NIKE, Inc. — Class B		197		0.31	%		(2,089	)
Buckle, Inc.		607		0.29	%		(2,764	)
Total Consumer, Cyclical							90,390
Industrial
Standex International Corp.		360		0.71	%		19,060
Snap-on, Inc.		228		0.92	%		15,658
Vishay Intertechnology, Inc.		1,166		0.48	%		15,076
Mueller Industries, Inc.		524		0.64	%		14,766
Eagle Materials, Inc.		270		0.71	%		14,485

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Jabil, Inc.		386		0.58	%	$	11,607
Louisiana-Pacific Corp.		448		0.47	%		9,435
Fortive Corp.		886		0.93	%		8,538
Boise Cascade Co.		484		0.61	%		7,731
Donaldson Company, Inc.		893		0.78	%		7,699
Builders FirstSource, Inc.		376		0.72	%		7,684
UFP Industries, Inc.		501		0.68	%		6,446
Simpson Manufacturing Company, Inc.		189		0.37	%		5,198
Landstar System, Inc.		313		0.85	%		4,563
Curtiss-Wright Corp.		221		0.57	%		4,266
Advanced Energy Industries, Inc.		140		0.22	%		3,983
Nordson Corp.		166		0.58	%		3,891
ITT, Inc.		715		0.94	%		3,520
Masco Corp.		480		0.39	%		3,323
Textron, Inc.		689		0.65	%		2,954
Armstrong World Industries, Inc.		526		0.54	%		2,911
Keysight Technologies, Inc.		150		0.35	%		1,648
Dover Corp.		427		0.89	%		1,520
Expeditors International of Washington, Inc.		219		0.37	%		1,493
International Seaways, Inc.		402		0.22	%		830
Ardmore Shipping Corp.		1,347		0.23	%		402
Scorpio Tankers, Inc.		361		0.24	%		299
GrafTech International Ltd.		2,593		0.18	%		216
Teledyne Technologies, Inc.		98		0.57	%		119
Toro Co.		366		0.52	%		103
Garmin Ltd.		189		0.28	%		(228	)
Golar LNG Ltd.		1,323		0.37	%		(1,783	)
Acuity Brands, Inc.		215		0.49	%		(2,845	)
Lindsay Corp.		98		0.16	%		(3,072	)
Sturm Ruger & Company, Inc.		568		0.42	%		(4,640	)
3M Co.		606		0.85	%		(6,085	)
Total Industrial							160,771
Technology
Apple, Inc.		671		1.83	%		58,354
Microsoft Corp.		338		1.62	%		50,369
NetApp, Inc.		726		0.78	%		10,372
KLA Corp.		96		0.65	%		6,705
Dropbox, Inc. — Class A		1,494		0.56	%		5,784
Diodes, Inc.		303		0.39	%		5,439
Kulicke & Soffa Industries, Inc.		709		0.59	%		5,414
Teradyne, Inc.		266		0.42	%		5,040
Teradata Corp.		254		0.19	%		4,907
Applied Materials, Inc.		369		0.75	%		4,063
Photronics, Inc.		755		0.27	%		3,237
Microchip Technology, Inc.		165		0.21	%		2,681
NXP Semiconductor N.V.		70		0.20	%		1,942
Cognizant Technology Solutions Corp. — Class A		506		0.46	%		1,716
QUALCOMM, Inc.		102		0.17	%		1,443
Qualys, Inc.		105		0.19	%		1,185
Manhattan Associates, Inc.		71		0.20	%		1,112
Veradigm, Inc.		1,213		0.21	%		1,043
Power Integrations, Inc.		135		0.18	%		1,032
NVIDIA Corp.		30		0.18	%		993
Electronic Arts, Inc.		298		0.54	%		717
NetScout Systems, Inc.		1,035		0.45	%		693
Autodesk, Inc.		72		0.21	%		(140	)
Akamai Technologies, Inc.		368		0.46	%		(1,503	)
Concentrix Corp.		405		0.46	%		(2,769	)
Total Technology							169,829
Financial
Weyerhaeuser Co.		2,046		0.96	%		7,869
Essent Group Ltd.		1,288		0.85	%		6,472
MGIC Investment Corp.		3,804		0.84	%		5,940
NMI Holdings, Inc. — Class A		1,158		0.42	%		5,581
Evercore, Inc. — Class A		297		0.52	%		5,477
Radian Group, Inc.		1,504		0.53	%		5,020
Preferred Bank/Los Angeles CA		1,034		0.80	%		3,570
Mr Cooper Group, Inc.		617		0.44	%		2,057
Lazard Ltd. — Class A		753		0.34	%		1,453
Hilltop Holdings, Inc.		441		0.19	%		1,291
Discover Financial Services		125		0.21	%		948
SouthState Corp.		886		0.82	%		261
International Bancshares Corp.		283		0.18	%		253
SEI Investments Co.		1,009		0.84	%		183
Brightsphere Investment Group, Inc.		961		0.28	%		113
Allstate Corp.		106		0.16	%		(72	)
Travelers Companies, Inc.		67		0.16	%		(81	)
S&T Bancorp, Inc.		662		0.25	%		(655	)
Equity Commonwealth		2,849		0.81	%		(1,061	)
Marcus & Millichap, Inc.		532		0.24	%		(2,426	)
BOK Financial Corp.		143		0.16	%		(3,105	)
Renasant Corp.		659		0.24	%		(4,485	)
FB Financial Corp.		552		0.22	%		(5,002	)
Southside Bancshares, Inc.		714		0.26	%		(7,406	)
Total Financial							22,195
Utilities
MGE Energy, Inc.		736		0.82	%		3,563
Atmos Energy Corp.		512		0.84	%		823
Chesapeake Utilities Corp.		314		0.52	%		200
ONE Gas, Inc.		723		0.78	%		151
Ameren Corp.		723		0.83	%		(187	)
Black Hills Corp.		944		0.80	%		(1,576	)
Consolidated Edison, Inc.		641		0.81	%		(1,624	)
National Fuel Gas Co.		869		0.63	%		(3,402	)
OGE Energy Corp.		1,641		0.83	%		(5,324	)
Clearway Energy, Inc. — Class C		1,321		0.53	%		(6,538	)
Total Utilities							(13,914	)
Basic Materials
NewMarket Corp.		92		0.52	%		8,057
CF Industries Holdings, Inc.		249		0.24	%		(236	)
LyondellBasell Industries N.V. — Class A		378		0.49	%		(654	)
Westlake Corp.		378		0.63	%		(950	)

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Olin Corp.		494		0.36	%	$	(1,906	)
Total Basic Materials							4,311
Energy
Exxon Mobil Corp.		689		1.04	%		7,811
Marathon Petroleum Corp.		555		0.91	%		6,563
SM Energy Co.		614		0.27	%		2,917
REX American Resources Corp.		420		0.21	%		2,133
PBF Energy, Inc. — Class A		464		0.27	%		2,049
Matador Resources Co.		389		0.29	%		1,991
Valero Energy Corp.		469		0.77	%		1,916
Cheniere Energy, Inc.		219		0.47	%		1,864
Chevron Corp.		239		0.53	%		815
Civitas Resources, Inc.		251		0.24	%		(150	)
Phillips 66		386		0.52	%		(347	)
Magnolia Oil & Gas Corp. — Class A		940		0.28	%		(968	)
Occidental Petroleum Corp.		375		0.31	%		(2,074	)
Total Energy							24,520
Total MS Equity Long Custom Basket						$	521,540
MS EQUITY SHORT CUSTOM BASKET
Consumer, Non-cyclical
Driven Brands Holdings, Inc.		3,699		(1.13	)%		7,792
ABM Industries, Inc.		1,885		(0.93	)%		5,309
ManpowerGroup, Inc.		469		(0.43	)%		3,334
Global Payments, Inc.		638		(0.73	)%		3,106
Utz Brands, Inc.		2,476		(0.47	)%		2,021
Keurig Dr Pepper, Inc.		2,139		(0.77	)%		210
Performance Food Group Co.		720		(0.50	)%		(176	)
Constellation Brands, Inc. — Class A		177		(0.50	)%		(308	)
Verisk Analytics, Inc. — Class A		242		(0.63	)%		(714	)
Equifax, Inc.		403		(1.10	)%		(1,824	)
FTI Consulting, Inc.		332		(0.73	)%		(2,117	)
RadNet, Inc.		1,290		(0.49	)%		(2,707	)
TreeHouse Foods, Inc.		1,122		(0.65	)%		(3,180	)
Estee Lauder Companies, Inc. — Class A		371		(0.84	)%		(5,458	)
AmerisourceBergen Corp. — Class A		423		(0.94	)%		(7,774	)
Quanta Services, Inc.		457		(1.04	)%		(8,072	)
Booz Allen Hamilton Holding Corp.		579		(0.75	)%		(10,078	)
ICF International, Inc.		574		(0.83	)%		(11,751	)
TransUnion		1,478		(1.34	)%		(13,983	)
CoStar Group, Inc.		1,159		(1.19	)%		(16,017	)
GXO Logistics, Inc.		1,219		(0.89	)%		(18,248	)
Neogen Corp.		4,701		(1.18	)%		(19,921	)
Total Consumer, Non-cyclical							(100,556	)
Financial
Sun Communities, Inc.		772		(1.16	)%		27,451
Alexandria Real Estate Equities, Inc.		504		(0.66	)%		19,698
Rexford Industrial Realty, Inc.		1,900		(1.15	)%		16,594
American Tower Corp. — Class A		584		(1.31	)%		13,479
Howard Hughes Corp.		991		(0.90	)%		12,734
Kennedy-Wilson Holdings, Inc.		5,143		(0.97	)%		10,514
Healthcare Realty Trust, Inc.		4,115		(0.90	)%		8,509
Equitable Holdings, Inc.		4,164		(1.31	)%		7,999
Raymond James Financial, Inc.		1,228		(1.47	)%		6,502
Kemper Corp.		971		(0.54	)%		6,405
Americold Realty Trust, Inc.		2,832		(1.06	)%		6,084
Outfront Media, Inc.		4,034		(0.73	)%		4,900
Rayonier, Inc.		3,136		(1.14	)%		3,526
TFS Financial Corp.		3,065		(0.45	)%		3,455
Equinix, Inc.		128		(1.16	)%		3,414
Prologis, Inc.		689		(0.98	)%		3,012
Assured Guaranty Ltd.		1,377		(0.89	)%		2,119
Voya Financial, Inc.		818		(0.68	)%		1,805
Progressive Corp.		561		(0.86	)%		1,188
Stellar Bancorp, Inc.		2,136		(0.57	)%		711
Popular, Inc.		720		(0.50	)%		491
Northern Trust Corp.		869		(0.75	)%		271
Hanover Insurance Group, Inc.		574		(0.75	)%		(35	)
Crown Castle, Inc.		323		(0.43	)%		(240	)
SBA Communications Corp.		123		(0.33	)%		(954	)
KKR & Company, Inc. — Class A		1,873		(1.21	)%		(965	)
Annaly Capital Management, Inc.		2,457		(0.57	)%		(1,131	)
State Street Corp.		864		(0.73	)%		(1,320	)
Air Lease Corp. — Class A		1,194		(0.58	)%		(2,221	)
First Financial Bancorp		2,514		(0.59	)%		(2,329	)
CBRE Group, Inc. — Class A		633		(0.59	)%		(2,882	)
Boston Properties, Inc.		467		(0.31	)%		(2,972	)
AGNC Investment Corp.		4,409		(0.52	)%		(2,977	)
Brighthouse Financial, Inc.		2,703		(1.48	)%		(3,118	)
Medical Properties Trust, Inc.		4,629		(0.50	)%		(3,260	)
Jones Lang LaSalle, Inc.		339		(0.61	)%		(4,208	)
UDR, Inc.		2,434		(1.21	)%		(4,233	)
Ellington Financial, Inc.		4,267		(0.68	)%		(4,311	)
UMH Properties, Inc.		4,672		(0.86	)%		(4,836	)
PennyMac Mortgage Investment Trust		3,955		(0.62	)%		(4,963	)
Welltower, Inc.		995		(0.93	)%		(5,388	)
PennyMac Financial Services, Inc.		1,214		(0.99	)%		(9,048	)
Iron Mountain, Inc.		1,930		(1.27	)%		(10,223	)
Apollo Global Management, Inc.		857		(0.76	)%		(10,801	)
Ares Management Corp. — Class A		922		(1.03	)%		(13,655	)
Digital Realty Trust, Inc.		947		(1.25	)%		(16,499	)
Total Financial							48,292
Consumer, Cyclical

Long Short Equity Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
UniFirst Corp.		360		(0.65	)%	$	16,168
Ollie's Bargain Outlet Holdings, Inc.		403		(0.27	)%		292
Newell Brands, Inc.		9,688		(0.97	)%		(100	)
OPENLANE, Inc.		4,070		(0.72	)%		(390	)
Alaska Air Group, Inc.		741		(0.46	)%		(1,314	)
Burlington Stores, Inc.		268		(0.49	)%		(2,216	)
Five Below, Inc.		214		(0.49	)%		(2,570	)
Shake Shack, Inc. — Class A		595		(0.53	)%		(5,407	)
VF Corp.		4,705		(1.04	)%		(5,851	)
Floor & Decor Holdings, Inc. — Class A		669		(0.80	)%		(14,998	)
Copart, Inc.		1,030		(1.09	)%		(28,122	)
Total Consumer, Cyclical							(44,508	)
Basic Materials
Hecla Mining Co.		7,607		(0.45	)%		7,048
Royal Gold, Inc.		462		(0.61	)%		4,440
ATI, Inc.		1,270		(0.65	)%		(8,452	)
Carpenter Technology Corp.		963		(0.63	)%		(16,354	)
Total Basic Materials							(13,318	)
Utilities
Avista Corp.		2,273		(1.03	)%		9,465
California Water Service Group		1,149		(0.69	)%		6,002
Spire, Inc.		850		(0.62	)%		5,897
Sempra Energy		704		(1.19	)%		4,962
Dominion Energy, Inc.		1,146		(0.69	)%		4,476
Entergy Corp.		518		(0.58	)%		3,737
CMS Energy Corp.		1,572		(1.07	)%		1,397
UGI Corp.		2,330		(0.73	)%		1,330
PG&E Corp.		5,439		(1.09	)%		222
American Electric Power Company, Inc.		1,359		(1.32	)%		(489	)
Alliant Energy Corp.		1,771		(1.07	)%		(498	)
DTE Energy Co.		823		(1.05	)%		(755	)
Exelon Corp.		1,696		(0.80	)%		(1,459	)
Edison International		1,364		(1.10	)%		(3,719	)
Total Utilities							30,568
Technology
Evolent Health, Inc. — Class A		1,498		(0.52	)%		1,212
Alteryx, Inc. — Class A		555		(0.29	)%		(2,028	)
KBR, Inc.		810		(0.61	)%		(2,794	)
Paycor HCM, Inc.		1,862		(0.51	)%		(2,964	)
Privia Health Group, Inc.		2,988		(0.90	)%		(5,757	)
Oracle Corp.		324		(0.45	)%		(6,753	)
Ceridian HCM Holding, Inc.		1,341		(1.04	)%		(11,924	)
Total Technology							(31,008	)
Industrial
TD SYNNEX Corp.		697		(0.76	)%		2,180
Waste Management, Inc.		571		(1.15	)%		(910	)
Boeing Co.		339		(0.83	)%		(4,042	)
MasTec, Inc.		377		(0.51	)%		(6,747	)
NV5 Global, Inc.		438		(0.56	)%		(6,915	)
Kirby Corp.		720		(0.64	)%		(6,981	)
Tetra Tech, Inc.		320		(0.61	)%		(9,789	)
Clean Harbors, Inc.		342		(0.65	)%		(10,076	)
Avnet, Inc.		2,139		(1.25	)%		(14,513	)
Casella Waste Systems, Inc. — Class A		869		(0.91	)%		(19,298	)
MSA Safety, Inc.		561		(1.13	)%		(27,427	)
Total Industrial							(104,535	)
Communications
Robinhood Markets, Inc. — Class A		2,146		(0.25	)%		(698	)
Palo Alto Networks, Inc.		97		(0.29	)%		(869	)
Chewy, Inc. — Class A		968		(0.44	)%		(3,355	)
DoorDash, Inc. — Class A		670		(0.59	)%		(7,545	)
Uber Technologies, Inc.		586		(0.29	)%		(8,643	)
Total Communications							(21,110	)
Energy
NOV, Inc.		4,028		(0.75	)%		17,429
Noble Corporation plc		990		(0.47	)%		(3,102	)
Valaris Ltd.		759		(0.55	)%		(7,370	)
Tidewater, Inc.		810		(0.52	)%		(9,898	)
Hess Corp.		874		(1.37	)%		(10,465	)
Schlumberger N.V.		2,253		(1.28	)%		(14,866	)
Total Energy							(28,272	)
Total MS Equity Short Custom Basket						$	(264,447	)

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Rate indicated is the 7-day yield as of June 30, 2023.

GS — Goldman Sachs International

MS — Morgan Stanley Capital Services LLC

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	14,239,175	$	—	$	—	$	14,239,175
Money Market Fund		848,772		—		—		848,772
Equity Custom Basket Swap Agreements**		—		1,045,798		—		1,045,798
Total Assets	$	15,087,947	$	1,045,798	$	—	$	16,133,745

Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Custom Basket Swap Agreements**	$	—	$	528,562	$	—	$	528,562

^** This derivative is reported as unrealized appreciation/depreciation at period end.

Mid-Cap 1.5x Strategy Fund

SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2023

	Shares		Value
COMMON STOCKS† - 70.5%
Industrial - 17.2%
Hubbell, Inc.		189	$	62,665
Builders FirstSource, Inc.*		453		61,608
Graco, Inc.		595		51,378
Jabil, Inc.		469		50,619
Carlisle Companies, Inc.		180		46,176
AECOM		491		41,583
Owens Corning		318		41,499
Lincoln Electric Holdings, Inc.		203		40,322
Toro Co.		368		37,407
Lennox International, Inc.		114		37,172
Crown Holdings, Inc.		424		36,833
Regal Rexnord Corp.		234		36,012
Cognex Corp.		610		34,172
Saia, Inc.*		94		32,186
Fortune Brands Innovations, Inc.		447		32,162
Knight-Swift Transportation Holdings, Inc.		569		31,614
EMCOR Group, Inc.		168		31,043
Tetra Tech, Inc.		188		30,783
nVent Electric plc		585		30,227
TopBuild Corp.*		112		29,794
Clean Harbors, Inc.*		178		29,269
AGCO Corp.		219		28,781
Arrow Electronics, Inc.*		199		28,503
Middleby Corp.*		189		27,940
ITT, Inc.		291		27,124
Berry Global Group, Inc.		421		27,087
AptarGroup, Inc.		231		26,764
Donaldson Company, Inc.		428		26,754
National Instruments Corp.		464		26,634
Graphic Packaging Holding Co.		1,085		26,072
Littelfuse, Inc.		88		25,635
Woodward, Inc.		212		25,209
Trex Company, Inc.*		384		25,175
Advanced Drainage Systems, Inc.		221		25,145
Coherent Corp.*		492		25,082
MasTec, Inc.*		211		24,892
Curtiss-Wright Corp.		135		24,794
Landstar System, Inc.		127		24,453
XPO, Inc.*		409		24,131
Eagle Materials, Inc.		127		23,675
Chart Industries, Inc.*		148		23,649
Novanta, Inc.*		126		23,197
BWX Technologies, Inc.		323		23,117
Hexcel Corp.		298		22,654
MSA Safety, Inc.		130		22,615
Universal Display Corp.		154		22,196
Valmont Industries, Inc.		74		21,538
Timken Co.		233		21,327
UFP Industries, Inc.		219		21,254
Simpson Manufacturing Company, Inc.		151		20,913
Sonoco Products Co.		346		20,421
Oshkosh Corp.		231		20,002
Louisiana-Pacific Corp.		254		19,045
Acuity Brands, Inc.		112		18,265
Watts Water Technologies, Inc. — Class A		97		17,822
Vontier Corp.		550		17,716
Flowserve Corp.		463		17,201
Exponent, Inc.		180		16,797
Kirby Corp.*		212		16,313
Avnet, Inc.		323		16,295
GATX Corp.		125		16,092
EnerSys		144		15,627
Crane Co.		170		15,150
Stericycle, Inc.*		326		15,139
MDU Resources Group, Inc.		719		15,056
Fluor Corp.*		506		14,978
Belden, Inc.		150		14,348
Terex Corp.		239		14,300
Ryder System, Inc.		164		13,906
Silgan Holdings, Inc.		296		13,879
TD SYNNEX Corp.		147		13,818
Vishay Intertechnology, Inc.		451		13,259
Esab Corp.		183		12,177
Werner Enterprises, Inc.		208		9,189
Energizer Holdings, Inc.		235		7,891
Knife River Corp.*		180		7,830
Worthington Industries, Inc.		107		7,433
Mercury Systems, Inc.*		206		7,126
Greif, Inc. — Class A		92		6,338
Vicor Corp.*		79		4,266
Total Industrial				1,958,513
Financial - 14.2%
Life Storage, Inc. REIT		301		40,021
Rexford Industrial Realty, Inc. REIT		710		37,076
CubeSmart REIT		793		35,415
Annaly Capital Management, Inc. REIT		1,744		34,897
RenaissanceRe Holdings Ltd.		177		33,014
Reinsurance Group of America, Inc. — Class A		235		32,592
Unum Group		654		31,196
Lamar Advertising Co. — Class A REIT		309		30,668
Interactive Brokers Group, Inc. — Class A		364		30,238
American Financial Group, Inc.		247		29,331
Kinsale Capital Group, Inc.		77		28,813
New York Community Bancorp, Inc.		2,550		28,662
NNN REIT, Inc. REIT		643		27,514
EastGroup Properties, Inc. REIT		157		27,255
East West Bancorp, Inc.		500		26,395
Jones Lang LaSalle, Inc.*		169		26,330
Omega Healthcare Investors, Inc. REIT		828		25,411
Healthcare Realty Trust, Inc. REIT		1,345		25,367
Primerica, Inc.		128		25,313
Voya Financial, Inc.		347		24,883
First Industrial Realty Trust, Inc. REIT		467		24,583
Cullen/Frost Bankers, Inc.		227		24,409
Old Republic International Corp.		962		24,214
Brixmor Property Group, Inc. REIT		1,061		23,342
Webster Financial Corp.		617		23,292

Mid-Cap 1.5x Strategy Fund

SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2023

	Shares		Value
COMMON STOCKS† - 70.5% (continued)
Financial - 14.2% (continued)
STAG Industrial, Inc. REIT		633	$	22,712
Stifel Financial Corp.		375		22,376
Jefferies Financial Group, Inc.		659		21,859
Agree Realty Corp. REIT		329		21,513
First Horizon Corp.		1,899		21,402
Starwood Property Trust, Inc. REIT		1,102		21,379
SEI Investments Co.		358		21,344
First American Financial Corp.		365		20,812
Selective Insurance Group, Inc.		214		20,533
Spirit Realty Capital, Inc. REIT		499		19,651
Medical Properties Trust, Inc. REIT1		2,113		19,566
Commerce Bancshares, Inc.		401		19,529
RLI Corp.		143		19,515
Affiliated Managers Group, Inc.		127		19,036
Apartment Income REIT Corp.		527		19,019
Prosperity Bancshares, Inc.		333		18,808
Essent Group Ltd.		379		17,737
SouthState Corp.		268		17,634
Kite Realty Group Trust REIT		775		17,314
Rayonier, Inc. REIT		523		16,422
MGIC Investment Corp.		1,012		15,980
Wintrust Financial Corp.		216		15,686
Synovus Financial Corp.		516		15,609
Western Union Co.		1,322		15,507
Evercore, Inc. — Class A		125		15,449
Pinnacle Financial Partners, Inc.		271		15,352
Bank OZK		381		15,301
Home BancShares, Inc.		666		15,185
Columbia Banking System, Inc.		736		14,926
PotlatchDeltic Corp. REIT		282		14,904
FNB Corp.		1,275		14,586
Independence Realty Trust, Inc. REIT		792		14,430
Old National Bancorp		1,033		14,400
Hanover Insurance Group, Inc.		126		14,242
United Bankshares, Inc.		475		14,093
SLM Corp.		856		13,970
First Financial Bankshares, Inc.		459		13,077
Janus Henderson Group plc		468		12,753
Cadence Bank		645		12,668
EPR Properties REIT		266		12,449
Cousins Properties, Inc. REIT		536		12,221
Glacier Bancorp, Inc.		392		12,219
Physicians Realty Trust REIT		842		11,780
Hancock Whitney Corp.		304		11,667
Valley National Bancorp		1,489		11,540
Kilroy Realty Corp. REIT		372		11,193
Brighthouse Financial, Inc.*		236		11,175
Kemper Corp.		226		10,907
Federated Hermes, Inc. — Class B		300		10,755
Vornado Realty Trust REIT		569		10,322
National Storage Affiliates Trust REIT		290		10,101
Park Hotels & Resorts, Inc. REIT		762		9,769
Sabra Health Care REIT, Inc. REIT		816		9,604
CNO Financial Group, Inc.		405		9,586
Corporate Office Properties Trust REIT		397		9,429
UMB Financial Corp.		154		9,379
Highwoods Properties, Inc. REIT		372		8,895
Texas Capital Bancshares, Inc.*		169		8,703
Associated Banc-Corp.		533		8,650
Cathay General Bancorp		256		8,241
International Bancshares Corp.		186		8,221
Total Financial				1,623,316
Consumer, Non-cyclical - 11.5%
Penumbra, Inc.*		135		46,448
Shockwave Medical, Inc.*		129		36,818
United Therapeutics Corp.*		165		36,424
Darling Ingredients, Inc.*		564		35,978
US Foods Holding Corp.*		800		35,200
Service Corporation International		534		34,491
Performance Food Group Co.*		551		33,192
Neurocrine Biosciences, Inc.*		345		32,534
Tenet Healthcare Corp.*		360		29,297
Chemed Corp.		53		28,709
Masimo Corp.*		171		28,138
Jazz Pharmaceuticals plc*		226		28,017
WEX, Inc.*		151		27,493
Paylocity Holding Corp.*		146		26,941
GXO Logistics, Inc.*		420		26,384
Bruker Corp.		352		26,020
Repligen Corp.*		183		25,887
Acadia Healthcare Company, Inc.*		325		25,883
Ingredion, Inc.		233		24,686
Encompass Health Corp.		354		23,969
FTI Consulting, Inc.*		120		22,824
Exelixis, Inc.*		1,150		21,976
Celsius Holdings, Inc.*		144		21,483
Medpace Holdings, Inc.*		87		20,895
Lantheus Holdings, Inc.*		241		20,225
Envista Holdings Corp.*		578		19,560
Euronet Worldwide, Inc.*		166		19,484
Avis Budget Group, Inc.*		84		19,208
HealthEquity, Inc.*		302		19,068
Option Care Health, Inc.*		584		18,974
BellRing Brands, Inc.*		469		17,165
H&R Block, Inc.		538		17,146
Flowers Foods, Inc.		681		16,943
Globus Medical, Inc. — Class A*		282		16,790
Halozyme Therapeutics, Inc.*		465		16,773
Neogen Corp.*		764		16,617
Post Holdings, Inc.*		189		16,377
Perrigo Company plc		478		16,228
Coty, Inc. — Class A*		1,295		15,916
QuidelOrtho Corp.*		191		15,826
Syneos Health, Inc.*		366		15,423
Haemonetics Corp.*		178		15,155
Insperity, Inc.		127		15,108
ManpowerGroup, Inc.		178		14,133
Lancaster Colony Corp.		70		14,076
Arrowhead Pharmaceuticals, Inc.*		378		13,479
Sprouts Farmers Market, Inc.*		364		13,370
ASGN, Inc.*		174		13,160

Mid-Cap 1.5x Strategy Fund

SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2023

	Shares		Value
COMMON STOCKS† - 70.5% (continued)
Consumer, Non-cyclical - 11.5% (continued)
ICU Medical, Inc.*		71	$	12,652
Omnicell, Inc.*		159		11,714
Grand Canyon Education, Inc.*		109		11,250
Brink's Co.		164		11,124
Enovis Corp.*		169		10,836
Azenta, Inc.*		230		10,736
Progyny, Inc.*		270		10,622
Inari Medical, Inc.*		182		10,581
Amedisys, Inc.*		115		10,516
Integra LifeSciences Holdings Corp.*		252		10,365
Hertz Global Holdings, Inc.*		557		10,243
Patterson Companies, Inc.		307		10,211
Boston Beer Company, Inc. — Class A*		33		10,179
Coca-Cola Consolidated, Inc.		16		10,176
LivaNova plc*		190		9,772
Grocery Outlet Holding Corp.*		316		9,673
Helen of Troy Ltd.*		85		9,182
STAAR Surgical Co.*		171		8,989
R1 RCM, Inc.*		487		8,985
Graham Holdings Co. — Class B		13		7,429
Sotera Health Co.*		349		6,575
Pilgrim's Pride Corp.*		159		3,417
Total Consumer, Non-cyclical				1,311,118
Consumer, Cyclical - 11.2%
Deckers Outdoor Corp.*		93		49,072
Watsco, Inc.		118		45,013
Aramark		920		39,606
Five Below, Inc.*		197		38,718
Churchill Downs, Inc.		233		32,427
Casey's General Stores, Inc.		132		32,192
BJ's Wholesale Club Holdings, Inc.*		475		29,930
Lear Corp.		208		29,858
Lithia Motors, Inc. — Class A		97		29,499
Williams-Sonoma, Inc.		232		29,032
Toll Brothers, Inc.		364		28,781
Dick's Sporting Goods, Inc.		217		28,685
WESCO International, Inc.		159		28,471
Texas Roadhouse, Inc. — Class A		237		26,610
Skechers USA, Inc. — Class A*		474		24,961
Crocs, Inc.*		219		24,624
Mattel, Inc.*		1,250		24,425
Tempur Sealy International, Inc.		608		24,363
Gentex Corp.		825		24,139
Autoliv, Inc.		273		23,216
Polaris, Inc.		189		22,856
Light & Wonder, Inc. — Class A*		322		22,141
Murphy USA, Inc.		71		22,089
Brunswick Corp.		250		21,660
GameStop Corp. — Class A*,1		893		21,655
Wingstop, Inc.		106		21,217
Wyndham Hotels & Resorts, Inc.		303		20,777
RH*		63		20,764
Planet Fitness, Inc. — Class A*		300		20,232
Univar Solutions, Inc.*		557		19,963
Thor Industries, Inc.		189		19,562
PVH Corp.		222		18,863
Boyd Gaming Corp.		271		18,799
Taylor Morrison Home Corp. — Class A*		385		18,776
AutoNation, Inc.*		111		18,272
Harley-Davidson, Inc.		462		16,267
Fox Factory Holding Corp.*		149		16,168
Marriott Vacations Worldwide Corp.		130		15,953
Capri Holdings Ltd.*		444		15,935
MSC Industrial Direct Company, Inc. — Class A		167		15,912
Macy's, Inc.		962		15,440
KB Home		284		14,686
Visteon Corp.*		100		14,361
Leggett & Platt, Inc.		470		13,921
Goodyear Tire & Rubber Co.*		1,001		13,694
Penn Entertainment, Inc.*		544		13,072
Wendy's Co.		595		12,941
Adient plc*		334		12,799
Hilton Grand Vacations, Inc.*		271		12,314
FirstCash Holdings, Inc.		130		12,133
YETI Holdings, Inc.*		306		11,885
Ollie's Bargain Outlet Holdings, Inc.*		203		11,760
Choice Hotels International, Inc.		94		11,047
Travel + Leisure Co.		269		10,852
JetBlue Airways Corp.*		1,158		10,260
Topgolf Callaway Brands Corp.*		492		9,766
Carter's, Inc.		133		9,656
Columbia Sportswear Co.		125		9,655
Scotts Miracle-Gro Co. — Class A		145		9,090
Kohl's Corp.		391		9,013
Nordstrom, Inc.1		399		8,168
Papa John's International, Inc.		105		7,752
Foot Locker, Inc.		280		7,591
Gap, Inc.		753		6,724
Under Armour, Inc. — Class A*		666		4,809
Under Armour, Inc. — Class C*		670		4,496
Total Consumer, Cyclical				1,279,368
Technology - 6.0%
Lattice Semiconductor Corp.*		486		46,690
Manhattan Associates, Inc.*		219		43,774
Super Micro Computer, Inc.*		161		40,129
Dynatrace, Inc.*		766		39,426
KBR, Inc.		479		31,164
CACI International, Inc. — Class A*		80		27,267
Dropbox, Inc. — Class A*		960		25,603
Wolfspeed, Inc.*		440		24,460
ZoomInfo Technologies, Inc. — Class A*		952		24,171
Genpact Ltd.		598		22,467
MKS Instruments, Inc.		203		21,944
Science Applications International Corp.		191		21,484
Power Integrations, Inc.		203		19,218
Teradata Corp.*		357		19,067
Maximus, Inc.		215		18,170
Silicon Laboratories, Inc.*		113		17,825
ExlService Holdings, Inc.*		117		17,674
Aspen Technology, Inc.*		103		17,264

Mid-Cap 1.5x Strategy Fund

SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2023

	Shares		Value
COMMON STOCKS† - 70.5% (continued)
Technology - 6.0% (continued)
Cirrus Logic, Inc.*		195	$	15,797
Qualys, Inc.*		119		15,371
IPG Photonics Corp.*		110		14,940
Doximity, Inc. — Class A*		419		14,255
Lumentum Holdings, Inc.*		243		13,785
NCR Corp.*		496		12,499
Concentrix Corp.		151		12,193
MACOM Technology Solutions Holdings, Inc.*		183		11,992
Synaptics, Inc.*		140		11,953
Envestnet, Inc.*		192		11,395
Blackbaud, Inc.*		160		11,389
CommVault Systems, Inc.*		155		11,256
Amkor Technology, Inc.		356		10,591
Allegro MicroSystems, Inc.*		230		10,382
Kyndryl Holdings, Inc.*		723		9,602
Crane NXT Co.		170		9,595
ACI Worldwide, Inc.*		383		8,874
Xerox Holdings Corp.		399		5,941
Total Technology				689,607
Basic Materials - 3.4%
Reliance Steel & Aluminum Co.		208		56,491
RPM International, Inc.		455		40,827
Cleveland-Cliffs, Inc.*		1,819		30,486
Royal Gold, Inc.		232		26,629
Axalta Coating Systems Ltd.*		782		25,658
Olin Corp.		425		21,841
Commercial Metals Co.		414		21,801
Alcoa Corp.		630		21,376
United States Steel Corp.		800		20,008
Chemours Co.		527		19,441
Valvoline, Inc.		491		18,417
Ashland, Inc.		172		14,949
Westlake Corp.		122		14,575
Cabot Corp.		198		13,244
Avient Corp.		302		12,352
Sensient Technologies Corp.		149		10,598
NewMarket Corp.		23		9,249
MP Materials Corp.*,1		326		7,459
Total Basic Materials				385,401
Energy - 3.1%
Ovintiv, Inc.		864		32,892
Range Resources Corp.		852		25,049
Southwestern Energy Co.*		3,889		23,373
Chord Energy Corp.		147		22,609
Antero Resources Corp.*		975		22,454
NOV, Inc.		1,390		22,296
PDC Energy, Inc.		309		21,982
ChampionX Corp.		699		21,697
Matador Resources Co.		400		20,928
HF Sinclair Corp.		455		20,298
Murphy Oil Corp.		518		19,839
DT Midstream, Inc.		342		16,953
PBF Energy, Inc. — Class A		387		15,844
Equitrans Midstream Corp.		1,530		14,627
Antero Midstream Corp.		1,186		13,757
Sunrun, Inc.*		761		13,592
Valaris Ltd.*		212		13,341
CNX Resources Corp.*		585		10,366
Total Energy				351,897
Utilities - 2.3%
Essential Utilities, Inc.		850		33,924
OGE Energy Corp.		707		25,388
UGI Corp.		739		19,931
IDACORP, Inc.		179		18,365
National Fuel Gas Co.		324		16,640
New Jersey Resources Corp.		342		16,142
Portland General Electric Co.		341		15,969
ONE Gas, Inc.		196		15,055
Ormat Technologies, Inc.		186		14,966
Southwest Gas Holdings, Inc.		232		14,767
Black Hills Corp.		235		14,161
Hawaiian Electric Industries, Inc.		387		14,010
PNM Resources, Inc.		303		13,665
NorthWestern Corp.		211		11,976
Spire, Inc.		186		11,800
ALLETE, Inc.		202		11,710
Total Utilities				268,469
Communications - 1.6%
Iridium Communications, Inc.		445		27,643
New York Times Co. — Class A		579		22,801
Ciena Corp.*		527		22,392
Nexstar Media Group, Inc. — Class A		127		21,152
World Wrestling Entertainment, Inc. — Class A		153		16,596
Frontier Communications Parent, Inc.*		789		14,707
TEGNA, Inc.		795		12,911
Ziff Davis, Inc.*		167		11,700
Cable One, Inc.		17		11,170
Calix, Inc.*		204		10,182
TripAdvisor, Inc.*		374		6,167
Total Communications				177,421
Total Common Stocks
(Cost $6,850,019)				8,045,110
MUTUAL FUNDS† - 9.7%
Guggenheim Ultra Short Duration Fund — Institutional Class2		88,750		863,542
Guggenheim Strategy Fund II2		9,844		238,412
Total Mutual Funds
(Cost $1,123,598)				1,101,954
	Face Amount
U.S. TREASURY BILLS†† - 2.5%
U.S. Treasury Bills
5.00% due 08/03/233,4	$	200,000		199,119

Mid-Cap 1.5x Strategy Fund

SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2023

	Face Amount		Value
U.S. TREASURY BILLS†† - 2.5% (continued)
5.11% due 07/18/234	$	88,000	$	87,816
Total U.S. Treasury Bills
(Cost $286,867)				286,935
REPURCHASE AGREEMENTS††,5 - 13.5%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/233		839,369		839,369
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/233		369,280		369,280
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/233		335,709		335,709
Total Repurchase Agreements
(Cost $1,544,358)				1,544,358
	Shares
SECURITIES LENDING COLLATERAL†,6 - 0.4%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%7		44,046		44,046
Total Securities Lending Collateral
(Cost $44,046)				44,046
Total Investments - 96.6%
(Cost $9,848,888)			$	11,022,403
Other Assets & Liabilities, net - 3.4%				384,828
Total Net Assets - 100.0%			$	11,407,231

Total Return Swap Agreements
Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements††
Goldman Sachs International	S&P MidCap 400 Index	Pay	5.32% (Federal Funds Rate + 0.25%)	At Maturity	09/21/23		2,155	$	5,650,108	$	100,125
Barclays Bank plc	S&P MidCap 400 Index	Pay	5.41% (SOFR + 0.35%)	At Maturity	09/20/23		1,025		2,686,695		77,426
BNP Paribas	S&P MidCap 400 Index	Pay	5.52% (Federal Funds Rate + 0.45%)	At Maturity	09/21/23		265		693,713		12,435
								$	9,030,516	$	189,986

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Affiliated issuer.
3	All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.
4	Rate indicated is the effective yield at the time of purchase.
5	Repurchase Agreements — See Note 4.
6	Securities lending collateral — See Note 5.
7	Rate indicated is the 7-day yield as of June 30, 2023.

plc — Public Limited Company 

REIT — Real Estate Investment Trust 

SOFR — Secured Overnight Financing Rate 

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	8,045,110	$	—	$	—	$	8,045,110
Mutual Funds		1,101,954		—		—		1,101,954
U.S. Treasury Bills		—		286,935		—		286,935
Repurchase Agreements		—		1,544,358		—		1,544,358
Securities Lending Collateral		44,046		—		—		44,046
Equity Index Swap Agreements**		—		189,986		—		189,986
Total Assets	$	9,191,110	$	2,021,279	$	—	$	11,212,389

** This derivative is reported as unrealized appreciation/depreciation at period end.

Mid-Cap 1.5x Strategy Fund

SCHEDULE OF INVESTMENTS (Unaudited) June 30, 2023

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	238,314	$	–	$	–	$	–	$	98	$	238,412		9,844	$	3,239
Guggenheim Ultra Short Duration Fund — Institutional Class		861,767		–		–		–		1,775		863,542		88,750		11,525
	$	1,100,081	$	–	$	–	$	–	$	1,873	$	1,101,954			$	14,764

Monthly Rebalance NASDAQ-100® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 84.2%
Technology - 42.3%
Microsoft Corp.		167,391	$	57,003,331
Apple, Inc.		285,983		55,472,122
NVIDIA Corp.		72,438		30,642,723
Broadcom, Inc.		12,228		10,606,934
Adobe, Inc.*		13,453		6,578,383
Advanced Micro Devices, Inc.*		47,228		5,379,742
Texas Instruments, Inc.		26,619		4,791,952
Intel Corp.		122,324		4,090,515
QUALCOMM, Inc.		32,670		3,889,037
Intuit, Inc.		8,213		3,763,114
Applied Materials, Inc.		24,627		3,559,587
Analog Devices, Inc.		14,705		2,864,681
Lam Research Corp.		3,940		2,532,868
Micron Technology, Inc.		32,095		2,025,515
KLA Corp.		4,024		1,951,720
Activision Blizzard, Inc.*		23,056		1,943,621
Synopsys, Inc.*		4,462		1,942,799
Cadence Design Systems, Inc.*		7,997		1,875,456
ASML Holding N.V. — Class G		2,574		1,865,507
Fortinet, Inc.*		23,027		1,740,611
NXP Semiconductor N.V.		7,618		1,559,252
Marvell Technology, Inc.		25,222		1,507,771
Microchip Technology, Inc.		15,995		1,432,992
Workday, Inc. — Class A*		6,041		1,364,602
Autodesk, Inc.*		6,281		1,285,155
ON Semiconductor Corp.*		12,666		1,197,950
Paychex, Inc.		10,573		1,182,802
GLOBALFOUNDRIES, Inc.*,1		16,064		1,037,413
Electronic Arts, Inc.		7,998		1,037,341
Cognizant Technology Solutions Corp. — Class A		14,883		971,562
Crowdstrike Holdings, Inc. — Class A*		6,573		965,377
Datadog, Inc. — Class A*		8,689		854,824
ANSYS, Inc.*		2,542		839,546
Atlassian Corp. — Class A*		4,454		747,426
Zscaler, Inc.*		4,256		622,653
Zoom Video Communications, Inc. — Class A*		7,357		499,393
Total Technology				221,626,277
Communications - 22.4%
Amazon.com, Inc.*		231,949		30,236,872
Meta Platforms, Inc. — Class A*		64,877		18,618,401
Alphabet, Inc. — Class A*		136,888		16,385,494
Alphabet, Inc. — Class C*		132,791		16,063,727
Cisco Systems, Inc.		119,511		6,183,499
Netflix, Inc.*		13,037		5,742,668
Comcast Corp. — Class A		121,984		5,068,435
T-Mobile US, Inc.*		35,189		4,887,752
Booking Holdings, Inc.*		1,083		2,924,457
Palo Alto Networks, Inc.*		8,970		2,291,925
MercadoLibre, Inc.*		1,472		1,743,731
Charter Communications, Inc. — Class A*		4,416		1,622,306
Airbnb, Inc. — Class A*		12,095		1,550,095
PDD Holdings, Inc. ADR*		17,907		1,238,090
Warner Bros Discovery, Inc.*		71,444		895,908
eBay, Inc.		15,682		700,829
Sirius XM Holdings, Inc.1		113,451		513,933
JD.com, Inc. ADR		13,315		454,441
Total Communications				117,122,563
Consumer, Non-cyclical - 9.2%
PepsiCo, Inc.		40,404		7,483,629
Intuitive Surgical, Inc.*		10,276		3,513,775
Amgen, Inc.		15,670		3,479,053
Mondelez International, Inc. — Class A		39,939		2,913,151
Gilead Sciences, Inc.		36,581		2,819,298
Automatic Data Processing, Inc.		12,116		2,662,976
Vertex Pharmaceuticals, Inc.*		7,554		2,658,328
Regeneron Pharmaceuticals, Inc.*		3,164		2,273,461
PayPal Holdings, Inc.*		32,721		2,183,472
Monster Beverage Corp.*		30,697		1,763,236
Cintas Corp.		2,983		1,482,790
Dexcom, Inc.*		11,368		1,460,902
Moderna, Inc.*		11,180		1,358,370
Keurig Dr Pepper, Inc.		41,169		1,287,354
Kraft Heinz Co.		35,992		1,277,716
AstraZeneca plc ADR		17,359		1,242,383
IDEXX Laboratories, Inc.*		2,434		1,222,428
Biogen, Inc.*		4,245		1,209,188
GE HealthCare Technologies, Inc.		13,334		1,083,254
CoStar Group, Inc.*		11,982		1,066,398
Seagen, Inc.*		5,499		1,058,338
Verisk Analytics, Inc. — Class A		4,246		959,723
Illumina, Inc.*		4,637		869,391
Align Technology, Inc.*		2,244		793,568
Total Consumer, Non-cyclical				48,122,182
Consumer, Cyclical - 7.7%
Tesla, Inc.*		71,650		18,755,820
Costco Wholesale Corp.		13,006		7,002,170
Starbucks Corp.		33,621		3,330,496
O'Reilly Automotive, Inc.*		1,786		1,706,166
Marriott International, Inc. — Class A		8,938		1,641,821
Lululemon Athletica, Inc.*		3,584		1,356,544
PACCAR, Inc.		15,326		1,282,020
Copart, Inc.*		14,002		1,277,122
Ross Stores, Inc.		10,031		1,124,776
Fastenal Co.		16,747		987,906
Dollar Tree, Inc.*		6,463		927,441
Walgreens Boots Alliance, Inc.		25,303		720,883
Lucid Group, Inc.*,1		53,793		370,634
Total Consumer, Cyclical				40,483,799
Industrial - 1.4%
Honeywell International, Inc.		19,522		4,050,815
CSX Corp.		59,623		2,033,144
Old Dominion Freight Line, Inc.		3,216		1,189,116
Total Industrial				7,273,075
Utilities - 0.8%
American Electric Power Company, Inc.		15,097		1,271,167
Exelon Corp.		29,168		1,188,304
Xcel Energy, Inc.		16,140		1,003,424
Constellation Energy Corp.		9,514		871,007
Total Utilities				4,333,902

Monthly Rebalance NASDAQ-100® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 84.2% (continued)
Energy - 0.4%
Baker Hughes Co.		29,690	$	938,501
Diamondback Energy, Inc.		5,311		697,653
Enphase Energy, Inc.*		4,020		673,270
Total Energy				2,309,424
Total Common Stocks
(Cost $338,982,611)				441,271,222
MUTUAL FUNDS† - 1.3%
Guggenheim Ultra Short Duration Fund — Institutional Class2		363,006		3,532,047
Guggenheim Strategy Fund II2		140,153		3,394,514
Total Mutual Funds
(Cost $6,977,593)				6,926,561

	Face Amount
U.S. TREASURY BILLS†† - 5.8%
U.S. Treasury Bills
5.00% due 08/03/233,4	$	19,700,000	19,613,251
5.11% due 07/18/234,5		4,417,000	4,407,757
5.10% due 08/03/233,4		3,200,000	3,185,909
5.05% due 08/03/233,4		2,000,000	1,991,193
5.05% due 08/03/233,4		1,000,000	995,596
Total U.S. Treasury Bills
(Cost $30,187,055)			30,193,706
REPURCHASE AGREEMENTS††,6 - 6.0%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/233		17,159,628	17,159,628
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/233		7,549,371	7,549,371
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/233		6,863,065	6,863,065
Total Repurchase Agreements
(Cost $31,572,064)			31,572,064

	Shares
SECURITIES LENDING COLLATERAL†,7 - 0.3%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%8		1,423,403		1,423,403
Total Securities Lending Collateral
(Cost $1,423,403)				1,423,403
Total Investments - 97.6%
(Cost $409,142,726)			$	511,386,956
Other Assets & Liabilities, net - 2.4%				12,409,095
Total Net Assets - 100.0%			$	523,796,051

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
NASDAQ-100 Index Mini Futures Contracts		123	Sep 2023	$	37,714,875	$	1,221,996

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements††
Barclays Bank plc	NASDAQ-100 Index	Pay	5.56% (SOFR + 0.50%)	At Maturity	09/20/23		18,837	$	285,933,500	$	8,747,926
Goldman Sachs International	NASDAQ-100 Index	Pay	5.57% (Federal Funds Rate + 0.50%)	At Maturity	09/21/23		14,769		224,176,144		2,708,264
BNP Paribas	NASDAQ-100 Index	Pay	5.72% (Federal Funds Rate + 0.65%)	At Maturity	09/21/23		3,875		58,825,881		904,139
								$	568,935,525	$	12,360,329

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Affiliated issuer.

Monthly Rebalance NASDAQ-100® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

3	All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.
4	Rate indicated is the effective yield at the time of purchase.
5	All or a portion of this security is pledged as futures collateral at June 30, 2023.
6	Repurchase Agreements — See Note 4.
7	Securities lending collateral — See Note 5.
8	Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	441,271,222	$	—	$	—	$	441,271,222
Mutual Funds		6,926,561		—		—		6,926,561
U.S. Treasury Bills		—		30,193,706		—		30,193,706
Repurchase Agreements		—		31,572,064		—		31,572,064
Securities Lending Collateral		1,423,403		—		—		1,423,403
Equity Futures Contracts**		1,221,996		—		—		1,221,996
Equity Index Swap Agreements**		—		12,360,329		—		12,360,329
Total Assets	$	450,843,182	$	74,126,099	$	—	$	524,969,281

** This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	3,393,112	$	–	$	–	$	–	$	1,402	$	3,394,514		140,153	$	46,119
Guggenheim Ultra Short Duration Fund — Institutional Class		3,524,787		–		–		–		7,260		3,532,047		363,006		47,140
	$	6,917,899	$	–	$	–	$	–	$	8,662	$	6,926,561			$	93,259

NASDAQ-100® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 95.2%
Technology - 47.8%
Microsoft Corp.		573,212	$	195,201,614
Apple, Inc.		979,323		189,959,283
NVIDIA Corp.		248,057		104,933,072
Broadcom, Inc.		41,871		36,320,162
Adobe, Inc.*		46,066		22,525,813
Advanced Micro Devices, Inc.*		161,726		18,422,209
Texas Instruments, Inc.		91,154		16,409,543
Intel Corp.		418,886		14,007,548
QUALCOMM, Inc.		111,877		13,317,838
Intuit, Inc.		28,126		12,887,052
Applied Materials, Inc.		84,334		12,189,636
Analog Devices, Inc.		50,356		9,809,852
Lam Research Corp.		13,492		8,673,467
Micron Technology, Inc.		109,908		6,936,294
KLA Corp.		13,779		6,683,091
Activision Blizzard, Inc.*		78,952		6,655,654
Synopsys, Inc.*		15,281		6,653,500
Cadence Design Systems, Inc.*		27,385		6,422,330
ASML Holding N.V. — Class G		8,814		6,387,946
Fortinet, Inc.*		78,856		5,960,725
NXP Semiconductor N.V.		26,085		5,339,078
Marvell Technology, Inc.		86,368		5,163,079
Microchip Technology, Inc.		54,772		4,907,023
Workday, Inc. — Class A*		20,688		4,673,212
Autodesk, Inc.*		21,507		4,400,547
ON Semiconductor Corp.*		43,372		4,102,124
Paychex, Inc.		36,205		4,050,253
GLOBALFOUNDRIES, Inc.*,1		55,010		3,552,546
Electronic Arts, Inc.		27,388		3,552,224
Cognizant Technology Solutions Corp. — Class A		50,965		3,326,995
Crowdstrike Holdings, Inc. — Class A*		22,508		3,305,750
Datadog, Inc. — Class A*		29,754		2,927,199
ANSYS, Inc.*		8,703		2,874,340
Atlassian Corp. — Class A*		15,253		2,559,606
Zscaler, Inc.*		14,574		2,132,176
Zoom Video Communications, Inc. — Class A*		25,195		1,710,237
Total Technology				758,933,018
Communications - 25.3%
Amazon.com, Inc.*		794,286		103,543,123
Meta Platforms, Inc. — Class A*		222,162		63,756,051
Alphabet, Inc. — Class A*		468,756		56,110,093
Alphabet, Inc. — Class C*		454,725		55,008,083
Cisco Systems, Inc.		409,251		21,174,647
Netflix, Inc.*		44,644		19,665,236
Comcast Corp. — Class A		417,719		17,356,225
T-Mobile US, Inc.*		120,503		16,737,867
Booking Holdings, Inc.*		3,709		10,015,524
Palo Alto Networks, Inc.*		30,716		7,848,245
MercadoLibre, Inc.*		5,042		5,972,753
Charter Communications, Inc. — Class A*		15,122		5,555,369
Airbnb, Inc. — Class A*		41,417		5,308,003
PDD Holdings, Inc. ADR*		61,323		4,239,872
Warner Bros Discovery, Inc.*		244,654		3,067,961
eBay, Inc.		53,703		2,399,987
Sirius XM Holdings, Inc.1		388,496		1,759,887
JD.com, Inc. ADR		45,595		1,556,157
Total Communications				401,075,083
Consumer, Non-cyclical - 10.4%
PepsiCo, Inc.		138,359		25,626,854
Intuitive Surgical, Inc.*		35,190		12,032,869
Amgen, Inc.		53,661		11,913,815
Mondelez International, Inc. — Class A		136,768		9,975,858
Gilead Sciences, Inc.		125,269		9,654,482
Automatic Data Processing, Inc.		41,489		9,118,868
Vertex Pharmaceuticals, Inc.*		25,865		9,102,152
Regeneron Pharmaceuticals, Inc.*		10,835		7,785,381
PayPal Holdings, Inc.*		112,049		7,477,030
Monster Beverage Corp.*		105,119		6,038,036
Cintas Corp.		10,214		5,077,175
Dexcom, Inc.*		38,930		5,002,894
Moderna, Inc.*		38,284		4,651,506
Keurig Dr Pepper, Inc.		140,979		4,408,413
Kraft Heinz Co.		123,249		4,375,339
AstraZeneca plc ADR		59,444		4,254,407
IDEXX Laboratories, Inc.*		8,336		4,186,589
Biogen, Inc.*		14,536		4,140,580
GE HealthCare Technologies, Inc.		45,662		3,709,581
CoStar Group, Inc.*		41,029		3,651,581
Seagen, Inc.*		18,831		3,624,214
Verisk Analytics, Inc. — Class A		14,541		3,286,702
Illumina, Inc.*		15,878		2,976,966
Align Technology, Inc.*		7,684		2,717,370
Total Consumer, Non-cyclical				164,788,662
Consumer, Cyclical - 8.7%
Tesla, Inc.*		245,361		64,228,149
Costco Wholesale Corp.		44,538		23,978,368
Starbucks Corp.		115,131		11,404,877
O'Reilly Automotive, Inc.*		6,114		5,840,704
Marriott International, Inc. — Class A		30,606		5,622,016
Lululemon Athletica, Inc.*		12,273		4,645,331
PACCAR, Inc.		52,482		4,390,119
Copart, Inc.*		47,948		4,373,337
Ross Stores, Inc.		34,352		3,851,890
Fastenal Co.		57,349		3,383,018
Dollar Tree, Inc.*		22,133		3,176,085
Walgreens Boots Alliance, Inc.		86,649		2,468,630
Lucid Group, Inc.*,1		184,210		1,269,207
Total Consumer, Cyclical				138,631,731
Industrial - 1.6%
Honeywell International, Inc.		66,853		13,871,997
CSX Corp.		204,176		6,962,402
Old Dominion Freight Line, Inc.		11,012		4,071,687
Total Industrial				24,906,086
Utilities - 0.9%
American Electric Power Company, Inc.		51,699		4,353,056
Exelon Corp.		99,883		4,069,233
Xcel Energy, Inc.		55,271		3,436,198
Constellation Energy Corp.		32,580		2,982,699
Total Utilities				14,841,186

NASDAQ-100® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

		Shares		Value
COMMON STOCKS† - 95.2% (continued)
Energy - 0.5%
Baker Hughes Co.		101,670	$	3,213,789
Diamondback Energy, Inc.		18,187		2,389,044
Enphase Energy, Inc.*		13,763		2,305,027
Total Energy				7,907,860
Total Common Stocks
(Cost $443,489,403)				1,511,083,626
MUTUAL FUNDS† - 3.1%
Guggenheim Ultra Short Duration Fund — Institutional Class2		2,756,359	$	26,819,376
Guggenheim Strategy Fund II2		575,584		13,940,655
Guggenheim Strategy Fund III2		370,504		8,984,717
Total Mutual Funds
(Cost $51,083,878)				49,744,748
		Face Amount
U.S. TREASURY BILLS†† - 1.1%
U.S. Treasury Bills
4.31% due 07/05/233	$	15,000,000		14,995,911
5.00% due 08/03/233,4		1,000,000		995,596
5.11% due 07/18/233,5		477,000		476,002
5.05% due 08/03/233,4		400,000		398,239
5.05% due 08/03/233,4		100,000		99,560
5.10% due 08/03/233,4		50,000		49,780
Total U.S. Treasury Bills
(Cost $17,010,485)				17,015,088
REPURCHASE AGREEMENTS††,6 - 0.6%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/234		5,575,767		5,575,767
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/234		2,453,056		2,453,056
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/234		2,230,051		2,230,051
Total Repurchase Agreements
(Cost $10,258,874)				10,258,874
		Shares
SECURITIES LENDING COLLATERAL†,7 - 0.3%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%8		4,836,267		4,836,267
Total Securities Lending Collateral
(Cost $4,836,267)				4,836,267
Total Investments - 100.3%
(Cost $526,678,907)			$	1,592,938,603
Other Assets & Liabilities, net - (0.3)%				(5,340,799	)
Total Net Assets - 100.0%			$	1,587,597,804

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
NASDAQ-100 Index Mini Futures Contracts		50	Sep 2023	$	15,331,250	$	202,919

Total Return Swap Agreements

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Equity Index Swap Agreements††

Goldman Sachs International

NASDAQ-100 Index

Pay

5.57%

(Federal Funds Rate + 0.50%)

At Maturity

09/21/23

2,736

$

41,529,897

$

638,638

Barclays Bank plc

NASDAQ-100 Index

Pay

5.56%

(SOFR + 0.50%)

At Maturity

09/20/23

817

12,401,867

400,506

BNP Paribas

NASDAQ-100 Index

Pay

5.72%

(Federal Funds Rate + 0.65%)

At Maturity

09/21/23

492

7,472,664

114,850

$

61,404,428

$

1,153,994

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.

NASDAQ-100® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Affiliated issuer.
3	Rate indicated is the effective yield at the time of purchase.
4	All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.
5	All or a portion of this security is pledged as futures collateral at June 30, 2023.
6	Repurchase Agreements — See Note 4.
7	Securities lending collateral — See Note 5.
8	Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	1,511,083,626	$	—	$	—	$	1,511,083,626
Mutual Funds		49,744,748		—		—		49,744,748
U.S. Treasury Bills		—		17,015,088		—		17,015,088
Repurchase Agreements		—		10,258,874		—		10,258,874
Securities Lending Collateral		4,836,267		—		—		4,836,267
Equity Futures Contracts**		202,919		—		—		202,919
Equity Index Swap Agreements**		—		1,153,994		—		1,153,994
Total Assets	$	1,565,867,560	$	28,427,956	$	—	$	1,594,295,516

** This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:

Security Name	Value 03/31/23		Additions		Reductions			Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	13,934,899	$	–	$	–		$	–		$	5,756	$	13,940,655		575,584	$	189,403
Guggenheim Strategy Fund III		8,984,717		–		–			–			–		8,984,717		370,504		119,750
Guggenheim Ultra Short Duration Fund — Institutional Class		29,758,082		–		(3,000,000	)		(94,832	)		156,126		26,819,376		2,756,359		377,200
	$	52,677,698	$	–	$	(3,000,000	)	$	(94,832	)	$	161,882	$	49,744,748			$	686,353

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 82.2%
Technology - 22.5%
Apple, Inc.		83,850	$	16,264,384
Microsoft Corp.		42,169		14,360,231
NVIDIA Corp.		14,026		5,933,279
Broadcom, Inc.		2,364		2,050,604
Adobe, Inc.*		2,601		1,271,863
Salesforce, Inc.*		5,552		1,172,916
Accenture plc — Class A		3,582		1,105,334
Advanced Micro Devices, Inc.*		9,133		1,040,340
Oracle Corp.		8,727		1,039,298
Texas Instruments, Inc.		5,148		926,743
Intel Corp.		23,655		791,023
QUALCOMM, Inc.		6,318		752,095
Intuit, Inc.		1,591		728,980
Applied Materials, Inc.		4,793		692,780
International Business Machines Corp.		5,150		689,121
ServiceNow, Inc.*		1,155		649,075
Analog Devices, Inc.		2,869		558,910
Lam Research Corp.		762		489,859
Fiserv, Inc.*		3,500		441,525
Micron Technology, Inc.		6,207		391,724
KLA Corp.		778		377,346
Synopsys, Inc.*		864		376,194
Cadence Design Systems, Inc.*		1,546		362,568
Activision Blizzard, Inc.*		4,057		342,005
NXP Semiconductor N.V.		1,472		301,289
Roper Technologies, Inc.		603		289,922
Fortinet, Inc.*		3,696		279,381
Microchip Technology, Inc.		3,107		278,356
Autodesk, Inc.*		1,214		248,397
ON Semiconductor Corp.*		2,449		231,626
MSCI, Inc. — Class A		454		213,058
Paychex, Inc.		1,819		203,492
Electronic Arts, Inc.		1,477		191,567
Cognizant Technology Solutions Corp. — Class A		2,877		187,811
Fidelity National Information Services, Inc.		3,360		183,792
ANSYS, Inc.*		491		162,163
HP, Inc.		4,916		150,970
Monolithic Power Systems, Inc.		255		137,759
Take-Two Interactive Software, Inc.*		899		132,297
Hewlett Packard Enterprise Co.		7,349		123,463
Fair Isaac Corp.*		141		114,099
Broadridge Financial Solutions, Inc.		669		110,806
Skyworks Solutions, Inc.		903		99,953
Tyler Technologies, Inc.*		237		98,703
Teradyne, Inc.		879		97,859
NetApp, Inc.		1,212		92,597
Paycom Software, Inc.		276		88,662
Zebra Technologies Corp. — Class A*		291		86,087
PTC, Inc.*		604		85,949
Akamai Technologies, Inc.*		863		77,558
EPAM Systems, Inc.*		328		73,718
Jack Henry & Associates, Inc.		413		69,107
Leidos Holdings, Inc.		778		68,837
Western Digital Corp.*		1,814		68,805
Seagate Technology Holdings plc		1,092		67,562
Ceridian HCM Holding, Inc.*		879		58,867
Qorvo, Inc.*		566		57,749
DXC Technology Co.*		1,291		34,496
Total Technology				57,574,954
Consumer, Non-cyclical - 16.6%
UnitedHealth Group, Inc.		5,280		2,537,779
Johnson & Johnson		14,738		2,439,434
Eli Lilly & Co.		4,468		2,095,403
Procter & Gamble Co.		13,367		2,028,308
Merck & Company, Inc.		14,391		1,660,578
PepsiCo, Inc.		7,813		1,447,124
AbbVie, Inc.		10,006		1,348,108
Coca-Cola Co.		22,073		1,329,236
Pfizer, Inc.		32,016		1,174,347
Thermo Fisher Scientific, Inc.		2,187		1,141,067
Abbott Laboratories		9,862		1,075,155
Danaher Corp.		3,766		903,840
Philip Morris International, Inc.		8,803		859,349
Bristol-Myers Squibb Co.		11,914		761,900
S&P Global, Inc.		1,860		745,655
Intuitive Surgical, Inc.*		1,987		679,435
Amgen, Inc.		3,030		672,721
Medtronic plc		7,545		664,715
Elevance Health, Inc.		1,344		597,126
Stryker Corp.		1,916		584,552
Mondelez International, Inc. — Class A		7,723		563,316
Gilead Sciences, Inc.		7,074		545,193
Automatic Data Processing, Inc.		2,343		514,968
Vertex Pharmaceuticals, Inc.*		1,460		513,789
CVS Health Corp.		7,271		502,644
Cigna Group		1,677		470,566
Altria Group, Inc.		10,123		458,572
Zoetis, Inc.		2,621		451,363
Boston Scientific Corp.*		8,154		441,050
Regeneron Pharmaceuticals, Inc.*		612		439,746
Becton Dickinson and Co.		1,611		425,320
PayPal Holdings, Inc.*		6,328		422,268
Colgate-Palmolive Co.		4,705		362,473
HCA Healthcare, Inc.		1,170		355,072
McKesson Corp.		768		328,174
Edwards Lifesciences Corp.*		3,437		324,212
Humana, Inc.		709		317,015
Moody's Corp.		895		311,209
Dexcom, Inc.*		2,198		282,465
Kimberly-Clark Corp.		1,913		264,109
Estee Lauder Companies, Inc. — Class A		1,315		258,240
General Mills, Inc.		3,331		255,488
Monster Beverage Corp.*		4,333		248,887
Cintas Corp.		490		243,569
IQVIA Holdings, Inc.*		1,052		236,458
IDEXX Laboratories, Inc.*		470		236,048
Biogen, Inc.*		820		233,577
Archer-Daniels-Midland Co.		3,089		233,404
Corteva, Inc.		4,032		231,034
Moderna, Inc.*		1,859		225,869

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 82.2% (continued)
Consumer, Non-cyclical - 16.6% (continued)
Constellation Brands, Inc. — Class A		914	$	224,963
Sysco Corp.		2,873		213,177
Centene Corp.*		3,112		209,904
Hershey Co.		835		208,499
CoStar Group, Inc.*		2,317		206,213
Verisk Analytics, Inc. — Class A		821		185,571
ResMed, Inc.		833		182,011
GE HealthCare Technologies, Inc.		2,218		180,190
AmerisourceBergen Corp. — Class A		919		176,843
Kroger Co.		3,704		174,088
United Rentals, Inc.		390		173,694
Zimmer Biomet Holdings, Inc.		1,183		172,245
Illumina, Inc.*		896		167,991
Equifax, Inc.		696		163,769
Quanta Services, Inc.		823		161,678
West Pharmaceutical Services, Inc.		421		161,020
Kraft Heinz Co.		4,524		160,602
Gartner, Inc.*		448		156,939
Keurig Dr Pepper, Inc.		4,777		149,377
Global Payments, Inc.		1,485		146,302
Align Technology, Inc.*		404		142,871
Church & Dwight Company, Inc.		1,385		138,819
Cardinal Health, Inc.		1,444		136,559
Baxter International, Inc.		2,868		130,666
STERIS plc		563		126,664
McCormick & Company, Inc.		1,423		124,128
Laboratory Corporation of America Holdings		502		121,148
Insulet Corp.*		395		113,894
Hologic, Inc.*		1,396		113,034
Clorox Co.		701		111,487
Cooper Companies, Inc.		280		107,360
FleetCor Technologies, Inc.*		419		105,203
Molina Healthcare, Inc.*		331		99,710
Kellogg Co.		1,458		98,269
Lamb Weston Holdings, Inc.		826		94,949
Conagra Brands, Inc.		2,705		91,213
J M Smucker Co.		605		89,340
Quest Diagnostics, Inc.		635		89,256
Waters Corp.*		334		89,024
Revvity, Inc.		711		84,460
Tyson Foods, Inc. — Class A		1,619		82,634
Bunge Ltd.		854		80,575
Avery Dennison Corp.		458		78,684
Bio-Techne Corp.		893		72,896
Molson Coors Beverage Co. — Class B		1,065		70,120
Brown-Forman Corp. — Class B		1,037		69,251
Viatris, Inc.		6,800		67,864
Hormel Foods Corp.		1,642		66,041
Incyte Corp.*		1,050		65,362
Teleflex, Inc.		266		64,380
Charles River Laboratories International, Inc.*		290		60,972
Henry Schein, Inc.*		742		60,176
Universal Health Services, Inc. — Class B		357		56,324
Rollins, Inc.		1,314		56,279
MarketAxess Holdings, Inc.		214		55,944
Campbell Soup Co.		1,138		52,018
Dentsply Sirona, Inc.		1,205		48,224
Robert Half International, Inc.		611		45,959
Bio-Rad Laboratories, Inc. — Class A*		120		45,494
Catalent, Inc.*		1,021		44,270
DaVita, Inc.*		314		31,548
Organon & Co.		1,447		30,112
Total Consumer, Non-cyclical				42,530,187
Financial - 11.1%
Berkshire Hathaway, Inc. — Class B*		10,114		3,448,874
JPMorgan Chase & Co.		16,573		2,410,377
Visa, Inc. — Class A		9,177		2,179,354
Mastercard, Inc. — Class A		4,745		1,866,209
Bank of America Corp.		39,320		1,128,091
Wells Fargo & Co.		21,280		908,230
Prologis, Inc. REIT		5,237		642,213
Morgan Stanley		7,388		630,935
Goldman Sachs Group, Inc.		1,885		607,988
American Express Co.		3,372		587,402
BlackRock, Inc. — Class A		849		586,778
Marsh & McLennan Companies, Inc.		2,806		527,753
American Tower Corp. — Class A REIT		2,643		512,583
Citigroup, Inc.		11,041		508,328
Charles Schwab Corp.		8,428		477,699
Chubb Ltd.		2,349		452,323
Progressive Corp.		3,320		439,468
Equinix, Inc. REIT		529		414,704
Aon plc — Class A		1,158		399,742
CME Group, Inc. — Class A		2,040		377,992
Intercontinental Exchange, Inc.		3,175		359,029
PNC Financial Services Group, Inc.		2,262		284,899
Crown Castle, Inc. REIT		2,459		280,179
Arthur J Gallagher & Co.		1,215		266,778
Public Storage REIT		897		261,816
U.S. Bancorp		7,911		261,379
Capital One Financial Corp.		2,165		236,786
American International Group, Inc.		4,105		236,202
Truist Financial Corp.		7,554		229,264
Realty Income Corp. REIT		3,818		228,278
Welltower, Inc. REIT		2,819		228,029
Travelers Companies, Inc.		1,309		227,321
Aflac, Inc.		3,118		217,636
Simon Property Group, Inc. REIT		1,854		214,100
MetLife, Inc.		3,648		206,221
Ameriprise Financial, Inc.		591		196,307
Digital Realty Trust, Inc. REIT		1,652		188,113
Prudential Financial, Inc.		2,070		182,615
Bank of New York Mellon Corp.		4,073		181,330
VICI Properties, Inc. REIT		5,695		178,994
Discover Financial Services		1,440		168,264
Allstate Corp.		1,491		162,579
Arch Capital Group Ltd.*		2,112		158,083

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 82.2% (continued)
Financial - 11.1% (continued)
AvalonBay Communities, Inc. REIT		805	$	152,362
T. Rowe Price Group, Inc.		1,273		142,601
SBA Communications Corp. REIT		614		142,301
CBRE Group, Inc. — Class A*		1,763		142,292
Willis Towers Watson plc		603		142,007
Weyerhaeuser Co. REIT		4,153		139,167
State Street Corp.		1,895		138,676
Equity Residential REIT		1,934		127,586
Hartford Financial Services Group, Inc.		1,759		126,683
M&T Bank Corp.		940		116,334
Extra Space Storage, Inc. REIT		765		113,870
Invitation Homes, Inc. REIT		3,297		113,417
Raymond James Financial, Inc.		1,081		112,175
Ventas, Inc. REIT		2,269		107,256
Alexandria Real Estate Equities, Inc. REIT		893		101,347
Fifth Third Bancorp		3,860		101,171
Mid-America Apartment Communities, Inc. REIT		661		100,380
Principal Financial Group, Inc.		1,280		97,075
Nasdaq, Inc.		1,920		95,712
Regions Financial Corp.		5,321		94,820
Iron Mountain, Inc. REIT		1,654		93,980
Brown & Brown, Inc.		1,335		91,901
Huntington Bancshares, Inc.		8,187		88,256
Northern Trust Corp.		1,182		87,634
Cincinnati Financial Corp.		891		86,712
Essex Property Trust, Inc. REIT		363		85,051
Everest Re Group Ltd.		243		83,072
Cboe Global Markets, Inc.		599		82,668
Synchrony Financial		2,431		82,460
UDR, Inc. REIT		1,755		75,395
Citizens Financial Group, Inc.		2,745		71,590
Kimco Realty Corp. REIT		3,514		69,296
Host Hotels & Resorts, Inc. REIT		4,034		67,892
W R Berkley Corp.		1,138		67,779
Camden Property Trust REIT		605		65,866
Loews Corp.		1,073		63,715
Healthpeak Properties, Inc. REIT		3,102		62,350
Globe Life, Inc.		504		55,249
Regency Centers Corp. REIT		872		53,864
KeyCorp		5,304		49,009
Boston Properties, Inc. REIT		809		46,590
Invesco Ltd.		2,598		43,672
Franklin Resources, Inc.		1,619		43,243
Federal Realty Investment Trust REIT		416		40,256
Assurant, Inc.		301		37,842
Comerica, Inc.		747		31,643
Zions Bancorp North America1		840		22,562
Lincoln National Corp.		875		22,540
Total Financial				28,440,564
Communications - 10.6%
Amazon.com, Inc.*		50,625		6,599,475
Alphabet, Inc. — Class A*		33,693		4,033,052
Meta Platforms, Inc. — Class A*		12,546		3,600,451
Alphabet, Inc. — Class C*		28,982		3,505,953
Cisco Systems, Inc.		23,229		1,201,868
Netflix, Inc.*		2,521		1,110,475
Comcast Corp. — Class A		23,589		980,123
Walt Disney Co.*		10,363		925,209
Verizon Communications, Inc.		23,842		886,684
AT&T, Inc.		40,544		646,677
Booking Holdings, Inc.*		209		564,369
T-Mobile US, Inc.*		3,266		453,647
Palo Alto Networks, Inc.*		1,716		438,455
Motorola Solutions, Inc.		951		278,909
Arista Networks, Inc.*		1,416		229,477
Charter Communications, Inc. — Class A*		589		216,381
Warner Bros Discovery, Inc.*		12,572		157,653
Corning, Inc.		4,339		152,039
CDW Corp.		764		140,194
eBay, Inc.		3,033		135,545
VeriSign, Inc.*		513		115,923
Omnicom Group, Inc.		1,131		107,615
Expedia Group, Inc.*		809		88,497
FactSet Research Systems, Inc.		217		86,941
Interpublic Group of Companies, Inc.		2,189		84,451
Match Group, Inc.*		1,579		66,081
Gen Digital, Inc.		3,226		59,842
Etsy, Inc.*		700		59,227
Juniper Networks, Inc.		1,824		57,146
Fox Corp. — Class A		1,525		51,850
F5, Inc.*		343		50,167
Paramount Global — Class B		2,875		45,741
News Corp. — Class A		2,160		42,120
Fox Corp. — Class B		775		24,715
News Corp. — Class B		666		13,133
Total Communications				27,210,085
Consumer, Cyclical - 7.8%
Tesla, Inc.*		15,279		3,999,584
Home Depot, Inc.		5,743		1,784,006
Costco Wholesale Corp.		2,515		1,354,026
Walmart, Inc.		7,955		1,250,367
McDonald's Corp.		4,141		1,235,716
NIKE, Inc. — Class B		6,988		771,265
Lowe's Companies, Inc.		3,382		763,317
Starbucks Corp.		6,502		644,088
TJX Companies, Inc.		6,530		553,679
Target Corp.		2,618		345,314
Ford Motor Co.		22,288		337,217
Chipotle Mexican Grill, Inc. — Class A*		156		333,684
O'Reilly Automotive, Inc.*		345		329,578
General Motors Co.		7,884		304,007
Marriott International, Inc. — Class A		1,462		268,555
AutoZone, Inc.*		103		256,816
PACCAR, Inc.		2,964		247,939
Copart, Inc.*		2,432		221,823
Yum! Brands, Inc.		1,588		220,017
Hilton Worldwide Holdings, Inc.		1,500		218,325
Ross Stores, Inc.		1,940		217,532
DR Horton, Inc.		1,760		214,174
Dollar General Corp.		1,243		211,037
WW Grainger, Inc.		253		199,513
Cummins, Inc.		803		196,863

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 82.2% (continued)
Consumer, Cyclical - 7.8% (continued)
Fastenal Co.		3,238	$	191,010
Lennar Corp. — Class A		1,439		180,321
Delta Air Lines, Inc.		3,645		173,283
Dollar Tree, Inc.*		1,179		169,186
Aptiv plc*		1,534		156,606
Tractor Supply Co.		621		137,303
Genuine Parts Co.		797		134,876
Ulta Beauty, Inc.*		284		133,649
Royal Caribbean Cruises Ltd.*		1,247		129,364
Southwest Airlines Co.		3,374		122,173
Walgreens Boots Alliance, Inc.		4,061		115,698
Darden Restaurants, Inc.		686		114,617
Las Vegas Sands Corp.*		1,863		108,054
NVR, Inc.*		17		107,961
Carnival Corp.*		5,696		107,255
United Airlines Holdings, Inc.*		1,860		102,058
PulteGroup, Inc.		1,266		98,343
Best Buy Company, Inc.		1,104		90,473
LKQ Corp.		1,439		83,851
Pool Corp.		221		82,795
MGM Resorts International		1,712		75,191
CarMax, Inc.*		897		75,079
Live Nation Entertainment, Inc.*		816		74,346
Domino's Pizza, Inc.		200		67,398
American Airlines Group, Inc.*		3,702		66,414
BorgWarner, Inc.		1,329		65,002
Caesars Entertainment, Inc.*		1,220		62,183
Wynn Resorts Ltd.		587		61,993
Tapestry, Inc.		1,314		56,239
Norwegian Cruise Line Holdings Ltd.*		2,405		52,357
Bath & Body Works, Inc.		1,298		48,675
Hasbro, Inc.		739		47,865
Whirlpool Corp.		310		46,125
Alaska Air Group, Inc.*		725		38,556
VF Corp.		1,874		35,775
Ralph Lauren Corp. — Class A		233		28,729
Advance Auto Parts, Inc.		336		23,621
Newell Brands, Inc.		2,136		18,583
Total Consumer, Cyclical				19,961,449
Industrial - 6.3%
Raytheon Technologies Corp.		8,287		811,795
Honeywell International, Inc.		3,774		783,105
United Parcel Service, Inc. — Class B		4,110		736,717
Caterpillar, Inc.		2,923		719,204
Union Pacific Corp.		3,458		707,576
General Electric Co.		6,176		678,434
Boeing Co.*		3,207		677,190
Deere & Co.		1,529		619,536
Lockheed Martin Corp.		1,278		588,366
Eaton Corporation plc		2,261		454,687
CSX Corp.		11,530		393,173
Illinois Tool Works, Inc.		1,568		392,251
Northrop Grumman Corp.		808		368,286
Waste Management, Inc.		2,099		364,009
FedEx Corp.		1,311		324,997
3M Co.		3,128		313,081
Emerson Electric Co.		3,240		292,863
Norfolk Southern Corp.		1,291		292,747
Amphenol Corp. — Class A		3,376		286,791
Parker-Hannifin Corp.		728		283,949
General Dynamics Corp.		1,276		274,532
Johnson Controls International plc		3,891		265,133
TransDigm Group, Inc.		296		264,674
TE Connectivity Ltd.		1,787		250,466
Trane Technologies plc		1,293		247,299
Carrier Global Corp.		4,735		235,377
Rockwell Automation, Inc.		651		214,472
AMETEK, Inc.		1,307		211,577
L3Harris Technologies, Inc.		1,074		210,257
Otis Worldwide Corp.		2,344		208,639
Agilent Technologies, Inc.		1,677		201,659
Old Dominion Freight Line, Inc.		509		188,203
Republic Services, Inc. — Class A		1,166		178,596
Vulcan Materials Co.		755		170,207
Keysight Technologies, Inc.*		1,009		168,957
Mettler-Toledo International, Inc.*		125		163,955
Martin Marietta Materials, Inc.		351		162,053
Xylem, Inc.		1,357		152,825
Ingersoll Rand, Inc.		2,294		149,936
Fortive Corp.		2,005		149,914
Dover Corp.		793		117,087
Westinghouse Air Brake Technologies Corp.		1,020		111,863
Teledyne Technologies, Inc.*		267		109,766
Expeditors International of Washington, Inc.		867		105,020
Ball Corp.		1,784		103,847
Howmet Aerospace, Inc.		2,086		103,382
IDEX Corp.		428		92,131
Garmin Ltd.		867		90,419
Snap-on, Inc.		300		86,457
Jacobs Solutions, Inc.		719		85,482
J.B. Hunt Transport Services, Inc.		470		85,084
Amcor plc		8,345		83,283
Stanley Black & Decker, Inc.		869		81,434
Axon Enterprise, Inc.*		397		77,463
Textron, Inc.		1,143		77,301
Nordson Corp.		305		75,695
Trimble, Inc.*		1,405		74,381
Masco Corp.		1,276		73,217
Packaging Corporation of America		509		67,269
CH Robinson Worldwide, Inc.		660		62,271
Pentair plc		935		60,401
Allegion plc		499		59,890
Generac Holdings, Inc.*		352		52,494
Huntington Ingalls Industries, Inc.		226		51,438
A O Smith Corp.		706		51,383
Westrock Co.		1,453		42,239
Sealed Air Corp.		819		32,760
Mohawk Industries, Inc.*		299		30,845
Total Industrial				16,301,790
Energy - 3.5%
Exxon Mobil Corp.		22,929		2,459,135
Chevron Corp.		9,883		1,555,090

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 82.2% (continued)
Energy - 3.5% (continued)
ConocoPhillips		6,863	$	711,075
Schlumberger N.V.		8,083		397,037
EOG Resources, Inc.		3,316		379,483
Marathon Petroleum Corp.		2,406		280,540
Pioneer Natural Resources Co.		1,326		274,721
Phillips 66		2,601		248,083
Valero Energy Corp.		2,050		240,465
Occidental Petroleum Corp.		4,075		239,610
Williams Companies, Inc.		6,909		225,441
Hess Corp.		1,567		213,034
Kinder Morgan, Inc.		11,185		192,606
Baker Hughes Co.		5,741		181,473
Devon Energy Corp.		3,639		175,909
Halliburton Co.		5,117		168,810
ONEOK, Inc.		2,538		156,645
Diamondback Energy, Inc.		1,026		134,775
Enphase Energy, Inc.*		776		129,964
Coterra Energy, Inc. — Class A		4,296		108,689
First Solar, Inc.*		563		107,021
Targa Resources Corp.		1,282		97,560
SolarEdge Technologies, Inc.*		320		86,096
Equities Corp.		2,050		84,317
Marathon Oil Corp.		3,502		80,616
APA Corp.		1,750		59,797
Total Energy				8,987,992
Utilities - 2.1%
NextEra Energy, Inc.		11,475		851,445
Southern Co.		6,184		434,426
Duke Energy Corp.		4,371		392,254
Sempra Energy		1,784		259,733
American Electric Power Company, Inc.		2,920		245,864
Dominion Energy, Inc.		4,741		245,536
Exelon Corp.		5,640		229,774
Xcel Energy, Inc.		3,121		194,033
Consolidated Edison, Inc.		1,965		177,636
Public Service Enterprise Group, Inc.		2,830		177,186
Constellation Energy Corp.		1,839		168,360
PG&E Corp.*		9,168		158,423
WEC Energy Group, Inc.		1,789		157,861
American Water Works Company, Inc.		1,104		157,596
Edison International		2,172		150,845
Eversource Energy		1,978		140,280
DTE Energy Co.		1,169		128,613
Ameren Corp.		1,489		121,607
FirstEnergy Corp.		3,086		119,984
Entergy Corp.		1,199		116,747
PPL Corp.		4,180		110,603
CenterPoint Energy, Inc.		3,578		104,299
CMS Energy Corp.		1,654		97,172
Atmos Energy Corp.		819		95,283
AES Corp.		3,796		78,691
Evergy, Inc.		1,303		76,121
Alliant Energy Corp.		1,425		74,784
NiSource, Inc.		2,343		64,081
Pinnacle West Capital Corp.		642		52,297
NRG Energy, Inc.		1,306		48,831
Total Utilities				5,430,365
Linde plc		2,777		1,058,259
Air Products and Chemicals, Inc.		1,259		377,108
Sherwin-Williams Co.		1,331		353,407
Freeport-McMoRan, Inc.		8,129		325,160
Ecolab, Inc.		1,404		262,113
Nucor Corp.		1,425		233,672
Dow, Inc.		4,011		213,626
PPG Industries, Inc.		1,335		197,981
Newmont Corp.		4,507		192,268
DuPont de Nemours, Inc.		2,603		185,958
Albemarle Corp.		665		148,355
LyondellBasell Industries N.V. — Class A		1,438		132,052
International Flavors & Fragrances, Inc.		1,446		115,087
Steel Dynamics, Inc.		911		99,235
CF Industries Holdings, Inc.		1,105		76,709
FMC Corp.		709		73,977
Mosaic Co.		1,883		65,905
Celanese Corp. — Class A		568		65,774
International Paper Co.		1,968		62,602
Eastman Chemical Co.		676		56,595
Total Basic Materials				4,295,843
Total Common Stocks
(Cost $194,677,505)				210,733,229
MUTUAL FUNDS† - 7.1%
Guggenheim Ultra Short Duration Fund — Institutional Class2		785,083		7,638,861
Guggenheim Strategy Fund II2		245,779		5,952,778
Guggenheim Strategy Fund III2		184,563		4,475,644
Total Mutual Funds
(Cost $18,438,175)				18,067,283
		Face Amount
U.S. TREASURY BILLS†† - 1.8%
U.S. Treasury Bills
5.00% due 08/03/233,4	$	3,000,000		2,986,790
5.11% due 07/18/234,5		1,101,000		1,098,696
5.01% due 08/03/233,4		450,000		448,018
Total U.S. Treasury Bills
(Cost $4,532,482)				4,533,504
REPURCHASE AGREEMENTS††,6 - 8.0%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/233		11,198,905		11,198,905
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/233		4,926,953		4,926,953
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/233		4,479,049		4,479,049
Total Repurchase Agreements
(Cost $20,604,907)				20,604,907

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
SECURITIES LENDING COLLATERAL†,7 - 0.0%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%8		17,388	$	17,388
Total Securities Lending Collateral
(Cost $17,388)				17,388
Total Investments - 99.1%
(Cost $238,270,457)			$	253,956,311
Other Assets & Liabilities, net - 0.9%				2,390,378
Total Net Assets - 100.0%			$	256,346,689

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
S&P 500 Index Mini Futures Contracts		49	Sep 2023	$	10,991,925	$	336,541

Total Return Swap Agreements
Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements††
Goldman Sachs International	S&P 500 Index	Pay	5.57% (Federal Funds Rate + 0.50%)	At Maturity	09/21/23		25,185	$	112,081,735	$	1,752,154
Barclays Bank plc	S&P 500 Index	Pay	5.51% (SOFR + 0.45%)	At Maturity	09/20/23		9,332		41,531,643		1,065,887
BNP Paribas	S&P 500 Index	Pay	5.67% (Federal Funds Rate + 0.60%)	At Maturity	09/21/23		2,066		9,193,961		148,685
								$	162,807,339	$	2,966,726

^*  Non-income producing security.

^**  Includes cumulative appreciation (depreciation).

^†  Value determined based on Level 1 inputs — See Note 3.

^††  Value determined based on Level 2 inputs — See Note 3.

¹  All or a portion of this security is on loan at June 30, 2023 — See Note 5.

²  Affiliated issuer.

³  All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.

⁴  Rate indicated is the effective yield at the time of purchase.

⁵  All or a portion of this security is pledged as futures collateral at June 30, 2023.

⁶  Repurchase Agreements — See Note 4.

⁷  Securities lending collateral — See Note 5.

⁸  Rate indicated is the 7-day yield as of June 30, 2023.

plc — Public Limited Company

REIT — Real Estate Investment Trust

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	210,733,229	$	—	$	—	$	210,733,229
Mutual Funds		18,067,283		—		—		18,067,283
U.S. Treasury Bills		—		4,533,504		—		4,533,504
Repurchase Agreements		—		20,604,907		—		20,604,907
Securities Lending Collateral		17,388		—		—		17,388
Equity Futures Contracts**		336,541		—		—		336,541
Equity Index Swap Agreements**		—		2,966,726		—		2,966,726
Total Assets	$	229,154,441	$	28,105,137	$	—	$	257,259,578

^**  This derivative is reported as unrealized appreciation/depreciation at period end.

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:
Security Name	Value 03/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	5,950,321	$	–	$	–	$	–	$	2,457	$	5,952,778		245,779	$	80,877
Guggenheim Strategy Fund III		4,475,644		–		–		–		–		4,475,644		184,563		59,652
Guggenheim Ultra Short Duration Fund — Institutional Class		7,623,159		–		–		–		15,702		7,638,861		785,083		101,950
	$	18,049,124	$	–	$	–	$	–	$	18,159	$	18,067,283			$	242,479

Precious Metals Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.7%
Mining - 99.7%
Freeport-McMoRan, Inc.		222,215	$	8,888,600
Newmont Corp.		156,976		6,696,596
Barrick Gold Corp.		366,478		6,204,473
Agnico Eagle Mines Ltd.		112,174		5,606,457
Wheaton Precious Metals Corp.		114,521		4,949,598
Gold Fields Ltd. ADR		257,227		3,557,449
Franco-Nevada Corp.		23,879		3,405,145
Royal Gold, Inc.		26,885		3,085,860
AngloGold Ashanti Ltd. ADR		140,590		2,965,043
Kinross Gold Corp.		578,967		2,761,673
Pan American Silver Corp.		175,560		2,559,665
Alamos Gold, Inc. — Class A		204,561		2,438,367
B2Gold Corp.		642,082		2,292,233
SSR Mining, Inc.		135,847		1,926,310
Hecla Mining Co.		370,801		1,909,625
Osisko Gold Royalties Ltd.1		121,347		1,865,103
Sibanye Stillwater Ltd. ADR1		268,993		1,678,516
Eldorado Gold Corp.*		161,324		1,629,372
Harmony Gold Mining Company Ltd. ADR		366,659		1,539,968
First Majestic Silver Corp.		243,789		1,377,408
Sandstorm Gold Ltd.		268,376		1,374,085
Equinox Gold Corp.*		272,732		1,249,113
MAG Silver Corp.*		98,695		1,099,462
SilverCrest Metals, Inc.*		171,262		1,003,595
Seabridge Gold, Inc.*		81,485		981,894
Novagold Resources, Inc.*		245,608		979,976
Fortuna Silver Mines, Inc.*		292,732		948,452
IAMGOLD Corp.*		332,223		873,747
Coeur Mining, Inc.*		279,261		793,101
Endeavour Silver Corp.*		227,501		657,478
Silvercorp Metals, Inc.		211,404		596,159
Gatos Silver, Inc.*		119,478		451,627
Total Mining				78,346,150
Total Common Stocks
(Cost $66,216,830)				78,346,150
		Face Amount
REPURCHASE AGREEMENTS††,2 - 1.0%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	448,621		448,621
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		197,371		197,371
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		179,428		179,428
Total Repurchase Agreements
(Cost $825,420)				825,420
		Shares
SECURITIES LENDING COLLATERAL†,3 - 2.5%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4		1,988,057		1,988,057
Total Securities Lending Collateral
(Cost $1,988,057)				1,988,057
Total Investments - 103.2%
(Cost $69,030,307)			$	81,159,627
Other Assets & Liabilities, net - (3.2)%				(2,499,819	)
Total Net Assets - 100.0%			$	78,659,808

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	78,346,150	$	—	$	—	$	78,346,150
Repurchase Agreements		—		825,420		—		825,420
Securities Lending Collateral		1,988,057		—		—		1,988,057
Total Assets	$	80,334,207	$	825,420	$	—	$	81,159,627

Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.2%
REITS - 93.5%
REITs-Diversified - 24.0%
American Tower Corp. — Class A		391	$	75,830
Equinix, Inc.		88		68,987
Crown Castle, Inc.		487		55,489
Digital Realty Trust, Inc.		424		48,281
VICI Properties, Inc.		1,395		43,845
Weyerhaeuser Co.		1,246		41,753
SBA Communications Corp.		171		39,631
WP Carey, Inc.		431		29,118
Gaming and Leisure Properties, Inc.		560		27,138
Lamar Advertising Co. — Class A		259		25,706
PotlatchDeltic Corp.		319		16,859
Vornado Realty Trust		851		15,437
National Storage Affiliates Trust		435		15,151
EPR Properties		320		14,976
Broadstone Net Lease, Inc.		837		12,923
Outfront Media, Inc.		771		12,120
Uniti Group, Inc.		1,476		6,819
Total REITs-Diversified				550,063
REITs-Apartments - 13.1%
AvalonBay Communities, Inc.		217		41,072
Equity Residential		593		39,120
Invitation Homes, Inc.		1,046		35,982
Mid-America Apartment Communities, Inc.		218		33,105
Essex Property Trust, Inc.		131		30,693
UDR, Inc.		697		29,943
Camden Property Trust		243		26,455
American Homes 4 Rent — Class A		743		26,339
Apartment Income REIT Corp.		505		18,225
Independence Realty Trust, Inc.		878		15,997
Total REITs-Apartments				296,931
REITs-Warehouse/Industries - 9.8%
Prologis, Inc.		678		83,143
Rexford Industrial Realty, Inc.		498		26,006
Americold Realty Trust, Inc.		749		24,193
EastGroup Properties, Inc.		126		21,874
First Industrial Realty Trust, Inc.		393		20,687
STAG Industrial, Inc.		560		20,093
Terreno Realty Corp.		286		17,189
Innovative Industrial Properties, Inc.		120		8,761
Total REITs-Warehouse/Industries				221,946
REITs-Health Care - 8.6%
Welltower, Inc.		621		50,233
Ventas, Inc.		738		34,885
Healthpeak Properties, Inc.		1,279		25,708
Omega Healthcare Investors, Inc.		685		21,023
Healthcare Realty Trust, Inc.		1,084		20,444
Medical Properties Trust, Inc.		1,996		18,483
Physicians Realty Trust		1,010		14,130
Sabra Health Care REIT, Inc.		1,099		12,935
Total REITs-Health Care				197,841
REITs-Office Property - 7.7%
Alexandria Real Estate Equities, Inc.		299		33,933
Boston Properties, Inc.		406		23,382
Cousins Properties, Inc.		666		15,185
Kilroy Realty Corp.		492		14,804
Highwoods Properties, Inc.		536		12,816
Corporate Office Properties Trust		538		12,777
LXP Industrial Trust		1,304		12,714
SL Green Realty Corp.1		392		11,780
Douglas Emmett, Inc.		901		11,326
Equity Commonwealth		556		11,265
JBG SMITH Properties		667		10,032
Hudson Pacific Properties, Inc.		1,285		5,423
Total REITs-Office Property				175,437
REITs-Storage - 7.7%
Public Storage		184		53,706
Extra Space Storage, Inc.		238		35,426
Iron Mountain, Inc.		568		32,274
Life Storage, Inc.		202		26,858
CubeSmart		559		24,965
Total REITs-Storage				173,229
REITs-Shopping Centers - 6.8%
Kimco Realty Corp.		1,400		27,608
Regency Centers Corp.		426		26,314
Federal Realty Investment Trust		230		22,257
Brixmor Property Group, Inc.		934		20,548
Kite Realty Group Trust		805		17,984
Phillips Edison & Company, Inc.		505		17,210
SITE Centers Corp.		923		12,202
Retail Opportunity Investments Corp.		756		10,214
Total REITs-Shopping Centers				154,337
REITs-Single Tenant - 5.4%
Realty Income Corp.		828		49,506
NNN REIT, Inc.		510		21,823
Agree Realty Corp.		294		19,225
Spirit Realty Capital, Inc.		470		18,509
Essential Properties Realty Trust, Inc.		610		14,359
Total REITs-Single Tenant				123,422
REITs-Hotels - 4.8%
Host Hotels & Resorts, Inc.		1,567		26,373
Ryman Hospitality Properties, Inc.		192		17,841
Apple Hospitality REIT, Inc.		900		13,599
Park Hotels & Resorts, Inc.		938		12,025
Sunstone Hotel Investors, Inc.		1,090		11,031
Pebblebrook Hotel Trust		718		10,009
RLJ Lodging Trust		937		9,623
Service Properties Trust		1,067		9,272
Total REITs-Hotels				109,773
REITs-Regional Malls - 2.6%
Simon Property Group, Inc.		421		48,617
Macerich Co.		1,105		12,453
Total REITs-Regional Malls				61,070
REITs-Manufactured Homes - 2.6%
Sun Communities, Inc.		242		31,571

Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.2% (continued)
REITS - 93.5% (continued)
REITs-Manufactured Homes - 2.6% (continued)
Equity LifeStyle Properties, Inc.		404	$	27,024
Total REITs-Manufactured Homes				58,595
Specialized REIT's - 0.4%
DiamondRock Hospitality Co.		1,229		9,844
Total REITS				2,132,488
Real Estate - 3.7%
Real Estate Management/Services - 3.7%
CBRE Group, Inc. — Class A*		490		39,548
Jones Lang LaSalle, Inc.*		116		18,073
eXp World Holdings, Inc.		494		10,018
Redfin Corp.*		783		9,725
Cushman & Wakefield plc*		1,072		8,769
Total Real Estate Management/Services				86,133
Total Real Estate				86,133
Internet - 1.5%
E-Commerce/Services - 1.5%
Zillow Group, Inc. — Class C*		536		26,939
Opendoor Technologies, Inc.*		1,880		7,558
Total E-Commerce/Services				34,497
Total Internet				34,497
Telecommunications - 0.5%
Telecom Services - 0.5%
DigitalBridge Group, Inc.		827		12,165
Total Common Stocks
(Cost $1,738,133)				2,265,283
	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	6,994		6,994
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		3,077		3,077
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		2,797		2,797
Total Repurchase Agreements
(Cost $12,868)				12,868
		Shares
SECURITIES LENDING COLLATERAL†,3 - 0.4%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4		8,319		8,319
Total Securities Lending Collateral
(Cost $8,319)				8,319
Total Investments - 100.2%
(Cost $1,759,320)			$	2,286,470
Other Assets & Liabilities, net - (0.2)%				(5,412	)
Total Net Assets - 100.0%			$	2,281,058

^*  Non-income producing security.

^†  Value determined based on Level 1 inputs — See Note 3.

^††  Value determined based on Level 2 inputs — See Note 3.

¹  All or a portion of this security is on loan at June 30, 2023 — See Note 5.

²  Repurchase Agreements — See Note 4.

³  Securities lending collateral — See Note 5.

⁴  Rate indicated is the 7-day yield as of June 30, 2023.

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	2,265,283	$	—	$	—	$	2,265,283
Repurchase Agreements		—		12,868		—		12,868
Securities Lending Collateral		8,319		—		—		8,319
Total Assets	$	2,273,602	$	12,868	$	—	$	2,286,470

Retailing Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.4%
Retail - 68.2%
Walmart, Inc.		4,215	$	662,514
Home Depot, Inc.		1,822		565,986
Lowe's Companies, Inc.		2,281		514,822
Costco Wholesale Corp.		956		514,691
TJX Companies, Inc.		5,284		448,030
Target Corp.		2,586		341,093
O'Reilly Automotive, Inc.*		349		333,400
Ross Stores, Inc.		2,470		276,961
Dollar General Corp.		1,617		274,534
Dollar Tree, Inc.*		1,713		245,815
AutoZone, Inc.*		92		229,389
Ulta Beauty, Inc.*		472		222,121
Genuine Parts Co.		1,287		217,799
Tractor Supply Co.		968		214,025
Walgreens Boots Alliance, Inc.		6,520		185,755
Best Buy Company, Inc.		2,198		180,126
CarMax, Inc.*		1,928		161,374
Five Below, Inc.*		745		146,422
Floor & Decor Holdings, Inc. — Class A*		1,398		145,336
Burlington Stores, Inc.*		921		144,956
Dick's Sporting Goods, Inc.		1,088		143,823
BJ's Wholesale Club Holdings, Inc.*		2,001		126,083
Williams-Sonoma, Inc.		975		122,012
Bath & Body Works, Inc.		3,148		118,050
GameStop Corp. — Class A*,1		4,837		117,297
AutoNation, Inc.*		704		115,885
RH*		336		110,742
Murphy USA, Inc.		319		99,244
Lithia Motors, Inc. — Class A		314		95,491
Academy Sports & Outdoors, Inc.		1,710		92,425
Advance Auto Parts, Inc.		1,310		92,093
Macy's, Inc.		5,698		91,453
Ollie's Bargain Outlet Holdings, Inc.*		1,369		79,306
Signet Jewelers Ltd.		1,150		75,049
Boot Barn Holdings, Inc.*		859		72,749
Foot Locker, Inc.		2,589		70,188
Gap, Inc.		7,407		66,145
American Eagle Outfitters, Inc.		5,394		63,649
Nordstrom, Inc.1		3,104		63,539
National Vision Holdings, Inc.*		2,333		56,669
Leslie's, Inc.*		5,517		51,805
Victoria's Secret & Co.*		2,873		50,076
Kohl's Corp.		1,715		39,531
Carvana Co.*,1		770		19,958
Total Retail				8,058,411
Internet - 27.7%
Amazon.com, Inc.*		9,735		1,269,055
Alibaba Group Holding Ltd. ADR*		3,646		303,894
PDD Holdings, Inc. ADR*		3,488		241,160
eBay, Inc.		4,655		208,032
JD.com, Inc. ADR		5,897		201,265
Coupang, Inc.*		11,013		191,626
MercadoLibre, Inc.*		160		189,536
Farfetch Ltd. — Class A*		28,577		172,605
Chewy, Inc. — Class A*		4,189		165,340
Etsy, Inc.*		1,627		137,660
Wayfair, Inc. — Class A*		1,906		123,909
Overstock.com, Inc.*		1,975		64,326
Total Internet				3,268,408
Distribution & Wholesale - 3.0%
LKQ Corp.		3,039		177,082
Pool Corp.		466		174,582
Total Distribution & Wholesale				351,664
Apparel - 0.5%
Urban Outfitters, Inc.*		1,885		62,450
Total Common Stocks
(Cost $8,944,406)				11,740,933

		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.4%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	25,843	25,843
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		11,369	11,369
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		10,336	10,336
Total Repurchase Agreements
(Cost $47,548)			47,548

	Shares
SECURITIES LENDING COLLATERAL†,3 - 1.6%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4	192,040		192,040
Total Securities Lending Collateral
(Cost $192,040)			192,040
Total Investments - 101.4%
(Cost $9,183,994)		$	11,980,521
Other Assets & Liabilities, net - (1.4)%			(167,851	)
Total Net Assets - 100.0%		$	11,812,670

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

See Sector Classification in Other Information section.

Retailing Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	11,740,933	$	—	$	—	$	11,740,933
Repurchase Agreements		—		47,548		—		47,548
Securities Lending Collateral		192,040		—		—		192,040
Total Assets	$	11,932,973	$	47,548	$	—	$	11,980,521

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 61.2%
Consumer, Non-cyclical - 14.9%
Intra-Cellular Therapies, Inc.*		162	$	10,258
elf Beauty, Inc.*		87		9,938
Lantheus Holdings, Inc.*		118		9,903
API Group Corp.*		362		9,868
Option Care Health, Inc.*		295		9,585
IVERIC bio, Inc.*		239		9,402
HealthEquity, Inc.*		146		9,218
Alkermes plc*		287		8,983
Ensign Group, Inc.		94		8,973
BellRing Brands, Inc.*		232		8,491
Halozyme Therapeutics, Inc.*		231		8,332
Neogen Corp.*		377		8,200
Merit Medical Systems, Inc.*		98		8,197
Vaxcyte, Inc.*		159		7,940
ImmunoGen, Inc.*		420		7,925
Triton International Ltd.		95		7,910
AMN Healthcare Services, Inc.*		70		7,638
Insperity, Inc.		63		7,494
Haemonetics Corp.*		87		7,407
CONMED Corp.		53		7,202
Guardant Health, Inc.*		193		6,909
Lancaster Colony Corp.		34		6,837
Herc Holdings, Inc.		49		6,706
Blueprint Medicines Corp.*		105		6,636
Sprouts Farmers Market, Inc.*		179		6,575
StoneCo Ltd. — Class A*		504		6,421
Alight, Inc. — Class A*		690		6,376
ASGN, Inc.*		84		6,353
Arrowhead Pharmaceuticals, Inc.*		177		6,312
Intellia Therapeutics, Inc.*		153		6,239
TriNet Group, Inc.*		65		6,173
Amicus Therapeutics, Inc.*		485		6,092
Denali Therapeutics, Inc.*		205		6,050
TG Therapeutics, Inc.*		238		5,912
Hostess Brands, Inc.*		230		5,824
Pacific Biosciences of California, Inc.*		436		5,799
Glaukos Corp.*		81		5,768
Omnicell, Inc.*		78		5,746
Simply Good Foods Co.*		157		5,745
Select Medical Holdings Corp.		180		5,735
Madrigal Pharmaceuticals, Inc.*		24		5,544
iRhythm Technologies, Inc.*		53		5,529
Brink's Co.		80		5,426
Progyny, Inc.*		136		5,350
Surgery Partners, Inc.*		117		5,264
Cytokinetics, Inc.*		161		5,252
Inari Medical, Inc.*		90		5,233
Flywire Corp.*		166		5,153
Integer Holdings Corp.*		58		5,139
Prestige Consumer Healthcare, Inc.*		86		5,111
Patterson Companies, Inc.		153		5,089
Coca-Cola Consolidated, Inc.		8		5,088
ACADIA Pharmaceuticals, Inc.*		210		5,029
Inmode Ltd.*		134		5,005
PTC Therapeutics, Inc.*		123		5,002
Reata Pharmaceuticals, Inc. — Class A*		49		4,996
Prothena Corporation plc*		72		4,916
ABM Industries, Inc.		115		4,905
LivaNova plc*		94		4,834
Insmed, Inc.*		228		4,811
REVOLUTION Medicines, Inc.*		176		4,708
TransMedics Group, Inc.*		55		4,619
Helen of Troy Ltd.*		42		4,537
WD-40 Co.		24		4,528
TreeHouse Foods, Inc.*		89		4,484
Korn Ferry		90		4,459
CBIZ, Inc.*		83		4,422
STAAR Surgical Co.*		84		4,416
Krystal Biotech, Inc.*		37		4,344
Inter Parfums, Inc.		32		4,327
Sage Therapeutics, Inc.*		92		4,326
Axonics, Inc.*		85		4,290
Alarm.com Holdings, Inc.*		83		4,289
EVERTEC, Inc.		113		4,162
Marqeta, Inc. — Class A*		849		4,135
J & J Snack Foods Corp.		26		4,117
Axsome Therapeutics, Inc.*		57		4,096
Marathon Digital Holdings, Inc.*		292		4,047
AtriCure, Inc.*		81		3,998
ICF International, Inc.		32		3,980
Chinook Therapeutics, Inc.*		100		3,842
Amphastar Pharmaceuticals, Inc.*		66		3,793
NuVasive, Inc.*		91		3,785
Beam Therapeutics, Inc.*		118		3,768
Edgewell Personal Care Co.		89		3,677
Revance Therapeutics, Inc.*		144		3,645
Akero Therapeutics, Inc.*		78		3,642
Vir Biotechnology, Inc.*		145		3,557
NeoGenomics, Inc.*		221		3,551
Graham Holdings Co. — Class B		6		3,429
Bridgebio Pharma, Inc.*		198		3,406
Cerevel Therapeutics Holdings, Inc.*		107		3,402
Primo Water Corp.		271		3,398
Riot Platforms, Inc.*		277		3,274
Myriad Genetics, Inc.*		140		3,245
Vector Group Ltd.		252		3,228
Veracyte, Inc.*		126		3,209
Pacira BioSciences, Inc.*		79		3,166
LiveRamp Holdings, Inc.*		110		3,142
DICE Therapeutics, Inc.*		67		3,113
Corcept Therapeutics, Inc.*		139		3,093
Vericel Corp.*		82		3,081
Morphic Holding, Inc.*		53		3,038
Cal-Maine Foods, Inc.		66		2,970
Upbound Group, Inc.		95		2,957
Textainer Group Holdings Ltd.		75		2,953
Coursera, Inc.*		225		2,929
CorVel Corp.*		15		2,902
Dynavax Technologies Corp.*		224		2,894
MGP Ingredients, Inc.		27		2,870
RadNet, Inc.*		86		2,805
Huron Consulting Group, Inc.*		33		2,802
Geron Corp.*		862		2,767
Remitly Global, Inc.*		146		2,748
Laureate Education, Inc. — Class A		227		2,744
Agios Pharmaceuticals, Inc.*		96		2,719
Stride, Inc.*		73		2,718

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Celldex Therapeutics, Inc.*		80	$	2,714
Adtalem Global Education, Inc.*		79		2,713
Viking Therapeutics, Inc.*		166		2,691
US Physical Therapy, Inc.		22		2,671
Ventyx Biosciences, Inc.*		81		2,657
SpringWorks Therapeutics, Inc.*		101		2,648
Strategic Education, Inc.		39		2,646
Protagonist Therapeutics, Inc.*		94		2,596
Andersons, Inc.		56		2,584
PROG Holdings, Inc.*		80		2,570
Supernus Pharmaceuticals, Inc.*		85		2,555
Ironwood Pharmaceuticals, Inc. — Class A*		240		2,554
Iovance Biotherapeutics, Inc.*		360		2,534
John Wiley & Sons, Inc. — Class A		74		2,518
Addus HomeCare Corp.*		27		2,503
Xencor, Inc.*		100		2,497
Central Garden & Pet Co. — Class A*		68		2,479
Owens & Minor, Inc.*		129		2,456
Biohaven Ltd.*		101		2,416
Zentalis Pharmaceuticals, Inc.*		85		2,398
Alphatec Holdings, Inc.*		133		2,391
Syndax Pharmaceuticals, Inc.*		114		2,386
UFP Technologies, Inc.*		12		2,326
BioCryst Pharmaceuticals, Inc.*		328		2,309
LeMaitre Vascular, Inc.		34		2,288
Aurinia Pharmaceuticals, Inc.*		234		2,265
Herbalife Ltd.*		171		2,264
Catalyst Pharmaceuticals, Inc.*		167		2,244
Krispy Kreme, Inc.		152		2,239
Ideaya Biosciences, Inc.*		94		2,209
Payoneer Global, Inc.*		459		2,208
Monro, Inc.		54		2,194
PROCEPT BioRobotics Corp.*		62		2,192
Chefs' Warehouse, Inc.*		61		2,181
Silk Road Medical, Inc.*		67		2,177
Legalzoom.com, Inc.*		180		2,174
Matthews International Corp. — Class A		51		2,174
Oscar Health, Inc. — Class A*		268		2,160
Embecta Corp.		100		2,160
ZipRecruiter, Inc. — Class A*		121		2,149
Kforce, Inc.		34		2,130
Arvinas, Inc.*		85		2,110
Universal Corp.		42		2,098
Ligand Pharmaceuticals, Inc. — Class B*		29		2,091
Arcellx, Inc.*		66		2,087
Pediatrix Medical Group, Inc.*		146		2,075
Utz Brands, Inc.		125		2,045
Avanos Medical, Inc.*		80		2,045
89bio, Inc.*		107		2,028
Twist Bioscience Corp.*		99		2,026
United Natural Foods, Inc.*		103		2,014
Harmony Biosciences Holdings, Inc.*		57		2,006
Treace Medical Concepts, Inc.*		78		1,995
Ingles Markets, Inc. — Class A		24		1,984
National Beverage Corp.*		41		1,982
Relay Therapeutics, Inc.*		156		1,959
Hain Celestial Group, Inc.*		155		1,939
Travere Therapeutics, Inc.*		126		1,935
Rocket Pharmaceuticals, Inc.*		97		1,927
Healthcare Services Group, Inc.		129		1,926
Amylyx Pharmaceuticals, Inc.*		88		1,898
John B Sanfilippo & Son, Inc.		16		1,876
Weis Markets, Inc.		29		1,862
Cymabay Therapeutics, Inc.*		170		1,861
CoreCivic, Inc.*		197		1,854
Arcus Biosciences, Inc.*		91		1,848
Cimpress plc*		31		1,844
Chegg, Inc.*		205		1,820
Sabre Corp.*		568		1,812
MannKind Corp.*		445		1,811
Cytek Biosciences, Inc.*		210		1,793
Pliant Therapeutics, Inc.*		98		1,776
Nuvalent, Inc. — Class A*		42		1,771
Immunovant, Inc.*		93		1,764
Recursion Pharmaceuticals, Inc. — Class A*		236		1,763
Medifast, Inc.		19		1,751
Viridian Therapeutics, Inc.*		73		1,737
B&G Foods, Inc.1		123		1,712
Cassava Sciences, Inc.*		69		1,692
Cross Country Healthcare, Inc.*		60		1,685
LifeStance Health Group, Inc.*		184		1,680
Dole plc		124		1,676
Crinetics Pharmaceuticals, Inc.*		92		1,658
Verve Therapeutics, Inc.*		88		1,650
Replimune Group, Inc.*		71		1,649
Arlo Technologies, Inc.*		150		1,636
SI-BONE, Inc.*		60		1,619
Udemy, Inc.*		149		1,599
Varex Imaging Corp.*		67		1,579
Keros Therapeutics, Inc.*		39		1,567
Nevro Corp.*		61		1,551
AdaptHealth Corp.*		127		1,546
Accolade, Inc.*		114		1,536
Inhibrx, Inc.*		59		1,532
Quanex Building Products Corp.		57		1,530
Kymera Therapeutics, Inc.*		66		1,517
Fresh Del Monte Produce, Inc.		59		1,517
OPKO Health, Inc.*		698		1,515
Green Dot Corp. — Class A*		80		1,499
Avid Bioservices, Inc.*		107		1,495
GEO Group, Inc.*		206		1,475
Rhythm Pharmaceuticals, Inc.*		89		1,468
First Advantage Corp.*		95		1,464
Perdoceo Education Corp.*		116		1,423
Point Biopharma Global, Inc.*		157		1,422
Cogent Biosciences, Inc.*		119		1,409
REGENXBIO, Inc.*		70		1,399
Multiplan Corp.*		656		1,384
Quanterix Corp.*		61		1,376
Innoviva, Inc.*		107		1,362
National Healthcare Corp.		22		1,360
RxSight, Inc.*		47		1,354
Avidity Biosciences, Inc.*		122		1,353
SpartanNash Co.		60		1,351
Paragon 28, Inc.*		76		1,348
ADMA Biologics, Inc.*		365		1,347
Beyond Meat, Inc.*,1		103		1,337
SP Plus Corp.*		34		1,330
BioLife Solutions, Inc.*		60		1,326
Adaptive Biotechnologies Corp.*		197		1,322

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Vita Coco Company, Inc.*		49	$	1,317
Deluxe Corp.		75		1,311
MiMedx Group, Inc.*		197		1,302
Fulgent Genetics, Inc.*		35		1,296
Collegium Pharmaceutical, Inc.*		60		1,289
Deciphera Pharmaceuticals, Inc.*		91		1,281
DocGo, Inc.*		135		1,265
USANA Health Sciences, Inc.*		20		1,261
Ardelyx, Inc.*		369		1,251
Brookdale Senior Living, Inc. — Class A*		295		1,245
Aclaris Therapeutics, Inc.*		120		1,244
CRA International, Inc.		12		1,224
Nano-X Imaging Ltd.*		79		1,224
ProKidney Corp.*		107		1,197
Kura Oncology, Inc.*		113		1,196
Mirum Pharmaceuticals, Inc.*		46		1,190
Beauty Health Co.*		142		1,188
ANI Pharmaceuticals, Inc.*		22		1,184
OrthoPediatrics Corp.*		27		1,184
Artivion, Inc.*		68		1,169
Arcturus Therapeutics Holdings, Inc.*		40		1,147
Atrion Corp.		2		1,131
Novavax, Inc.*,1		151		1,122
Transcat, Inc.*		13		1,109
Theravance Biopharma, Inc.*		107		1,107
Repay Holdings Corp.*		141		1,104
Orthofix Medical, Inc.*		61		1,102
European Wax Center, Inc. — Class A*		59		1,099
National Research Corp. — Class A		25		1,088
SunOpta, Inc.*		157		1,050
Barrett Business Services, Inc.		12		1,046
EQRx, Inc.*		552		1,027
Mission Produce, Inc.*		84		1,018
Day One Biopharmaceuticals, Inc.*		85		1,015
Kelly Services, Inc. — Class A		57		1,004
Enhabit, Inc.*		87		1,000
Tactile Systems Technology, Inc.*		40		997
Prime Medicine, Inc.*		68		996
Editas Medicine, Inc.*		121		996
ModivCare, Inc.*		22		995
4D Molecular Therapeutics, Inc.*		55		994
Anavex Life Sciences Corp.*		122		992
V2X, Inc.*		20		991
Duckhorn Portfolio, Inc.*		76		986
Hackett Group, Inc.		43		961
Sana Biotechnology, Inc.*		161		960
Community Health Systems, Inc.*		218		959
Lyell Immunopharma, Inc.*		300		954
RAPT Therapeutics, Inc.*		51		954
Agenus, Inc.*		594		950
Vera Therapeutics, Inc.*		59		947
Viad Corp.*		35		941
TrueBlue, Inc.*		53		939
Marinus Pharmaceuticals, Inc.*		86		934
Cass Information Systems, Inc.		24		931
Franklin Covey Co.*		21		917
Heidrick & Struggles International, Inc.		34		900
Ennis, Inc.		44		897
American Well Corp. — Class A*		425		892
I3 Verticals, Inc. — Class A*		39		892
2seventy bio, Inc.*		87		880
Resources Connection, Inc.		56		880
Calavo Growers, Inc.		30		870
Harrow Health, Inc.*		45		857
Arcutis Biotherapeutics, Inc.*		89		848
Agiliti, Inc.*		51		841
ACCO Brands Corp.		160		834
Dyne Therapeutics, Inc.*		74		833
Pulmonx Corp.*		63		826
Enliven Therapeutics, Inc.*		40		816
OmniAb, Inc.*		161		810
Nurix Therapeutics, Inc.*		81		809
Seres Therapeutics, Inc.*		168		805
Zymeworks, Inc.*		92		795
23andMe Holding Co. — Class A*		450		788
Aaron's Company, Inc.		55		778
CareDx, Inc.*		90		765
Kiniksa Pharmaceuticals Ltd. — Class A*		54		760
Cerus Corp.*		307		755
Surmodics, Inc.*		24		751
Enanta Pharmaceuticals, Inc.*		35		749
Avita Medical, Inc.*		44		748
Carriage Services, Inc. — Class A		23		747
Biomea Fusion, Inc.*		34		746
Tarsus Pharmaceuticals, Inc.*		41		741
Target Hospitality Corp.*		54		725
Turning Point Brands, Inc.		30		720
PetIQ, Inc.*		47		713
Allogene Therapeutics, Inc.*		142		706
Fate Therapeutics, Inc.*		147		700
Ocular Therapeutix, Inc.*		135		697
MaxCyte, Inc.*		151		693
Aldeyra Therapeutics, Inc.*		81		680
AngioDynamics, Inc.*		65		678
AnaptysBio, Inc.*		33		671
Alector, Inc.*		110		661
Custom Truck One Source, Inc.*		98		660
Central Garden & Pet Co.*		17		659
Amneal Pharmaceuticals, Inc.*		211		654
Anika Therapeutics, Inc.*		25		649
Terns Pharmaceuticals, Inc.*		74		648
Emergent BioSolutions, Inc.*		88		647
OraSure Technologies, Inc.*		129		646
Vanda Pharmaceuticals, Inc.*		98		646
Liquidia Corp.*		82		644
Axogen, Inc.*		70		639
HilleVax, Inc.*		37		636
Vital Farms, Inc.*		53		635
WW International, Inc.*		94		632
Scilex Holding Co.*		113		630
Voyager Therapeutics, Inc.*		55		630
Accuray, Inc.*		161		623
iRadimed Corp.		13		621
Tejon Ranch Co.*		36		620
Phathom Pharmaceuticals, Inc.*		43		616

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Pennant Group, Inc.*		50	$	614
Bluebird Bio, Inc.*		185		609
SomaLogic, Inc.*		262		605
Xeris Biopharma Holdings, Inc.*		230		603
Aura Biosciences, Inc.*		48		593
Castle Biosciences, Inc.*		43		590
Forrester Research, Inc.*		20		582
Disc Medicine, Inc.*		13		577
Viemed Healthcare, Inc.*		59		577
Cano Health, Inc.*		414		575
Edgewise Therapeutics, Inc.*		74		574
Mersana Therapeutics, Inc.*		174		572
Alta Equipment Group, Inc.		33		572
Omeros Corp.*		105		571
iTeos Therapeutics, Inc.*		43		569
Cabaletta Bio, Inc.*		44		568
Coherus Biosciences, Inc.*		133		568
Alpine Immune Sciences, Inc.*		55		565
Paysafe Ltd.*		56		565
MacroGenics, Inc.*		105		562
Entrada Therapeutics, Inc.*		37		560
Utah Medical Products, Inc.		6		559
Butterfly Network, Inc.*		242		557
2U, Inc.*		137		552
Westrock Coffee Co.*		49		533
Taro Pharmaceutical Industries Ltd.*		14		531
ImmunityBio, Inc.*,1		191		531
ORIC Pharmaceuticals, Inc.*		68		528
Evolus, Inc.*		72		523
Assertio Holdings, Inc.*		96		520
BrightView Holdings, Inc.*		72		517
Invitae Corp.*,1		455		514
Stoke Therapeutics, Inc.*		48		510
scPharmaceuticals, Inc.*		50		509
Zimvie, Inc.*		45		505
Summit Therapeutics, Inc.*		201		504
Sterling Check Corp.*		41		503
Compass Therapeutics, Inc.*		158		502
Allakos, Inc.*		115		501
Atea Pharmaceuticals, Inc.*		133		497
Arbutus Biopharma Corp.*		216		497
Sutro Biopharma, Inc.*		104		484
SEACOR Marine Holdings, Inc.*		42		480
Phibro Animal Health Corp. — Class A		35		479
Icosavax, Inc.*		48		477
Limoneira Co.		30		467
Outlook Therapeutics, Inc.*		268		466
Intercept Pharmaceuticals, Inc.*		42		465
Tenaya Therapeutics, Inc.*		79		464
Inogen, Inc.*		40		462
Nuvation Bio, Inc.*		252		454
Cullinan Oncology, Inc.*		41		441
Cutera, Inc.*		29		439
Y-mAbs Therapeutics, Inc.*		64		435
Seer, Inc.*		101		431
Generation Bio Co.*		78		429
FibroGen, Inc.*		157		424
Savara, Inc.*		132		422
PMV Pharmaceuticals, Inc.*		67		419
Caribou Biosciences, Inc.*		98		416
Distribution Solutions Group, Inc.*		8		416
Olema Pharmaceuticals, Inc.*		46		415
X4 Pharmaceuticals, Inc.*		213		413
Mineralys Therapeutics, Inc.*		24		409
Tyra Biosciences, Inc.*		24		409
Organogenesis Holdings, Inc.*		122		405
CareMax, Inc.*		130		404
SIGA Technologies, Inc.		80		404
Carisma Therapeutics, Inc.		46		403
Willdan Group, Inc.*		21		402
Universal Technical Institute, Inc.*		57		394
FiscalNote Holdings, Inc.*		108		393
Nathan's Famous, Inc.		5		393
EyePoint Pharmaceuticals, Inc.*		45		392
Benson Hill, Inc.*		300		390
KalVista Pharmaceuticals, Inc.*		43		387
Erasca, Inc.*		140		386
Kodiak Sciences, Inc.*		56		386
Rigel Pharmaceuticals, Inc.*		296		382
MeiraGTx Holdings plc*		56		376
Quipt Home Medical Corp.*		70		374
Harvard Bioscience, Inc.*		68		373
WaVe Life Sciences Ltd.*		102		371
Scholar Rock Holding Corp.*		49		369
Astria Therapeutics, Inc.*		44		367
Lexicon Pharmaceuticals, Inc.*		160		366
Monte Rosa Therapeutics, Inc.*		53		363
Design Therapeutics, Inc.*		57		359
Janux Therapeutics, Inc.*		30		356
Immuneering Corp. — Class A*		35		355
UroGen Pharma Ltd.*		34		352
Karyopharm Therapeutics, Inc.*		196		351
Eagle Pharmaceuticals, Inc.*		18		350
SoundThinking, Inc.*		16		350
Village Super Market, Inc. — Class A		15		342
Ovid therapeutics, Inc.*		103		338
Joint Corp.*		25		338
Nautilus Biotechnology, Inc.*		87		337
BRC, Inc. — Class A*		65		335
Actinium Pharmaceuticals, Inc.*		45		334
NanoString Technologies, Inc.*		82		332
Celcuity, Inc.*		30		329
Inozyme Pharma, Inc.*		59		329
HF Foods Group, Inc.*		70		328
Information Services Group, Inc.		61		327
Theseus Pharmaceuticals, Inc.*		35		327
Zynex, Inc.*		34		326
Sangamo Therapeutics, Inc.*		250		325
Lineage Cell Therapeutics, Inc.*,1		223		314
Nature's Sunshine Products, Inc.*		23		314
Performant Financial Corp.*		116		313
Quantum-Si, Inc.*		174		311
Zevra Therapeutics, Inc.*		60		306
Alico, Inc.		12		306
CorMedix, Inc.*		77		305
Kezar Life Sciences, Inc.*		124		304
Altimmune, Inc.*		86		304
Humacyte, Inc.*		106		303
Rallybio Corp.*		53		300
InfuSystem Holdings, Inc.*		31		299
Gritstone bio, Inc.*		152		296

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Seneca Foods Corp. — Class A*		9	$	294
CVRx, Inc.*		19		293
Aerovate Therapeutics, Inc.*		17		292
ClearPoint Neuro, Inc.*		40		290
Cadiz, Inc.*		70		284
ARS Pharmaceuticals, Inc.*		42		281
Sanara Medtech, Inc.*		7		281
Annexon, Inc.*		79		278
ALX Oncology Holdings, Inc.*		37		278
Lincoln Educational Services Corp.*		41		276
Acacia Research Corp.*		66		275
Fennec Pharmaceuticals, Inc.*		31		274
Tela Bio, Inc.*		27		274
Waldencast plc — Class A*		35		271
Precigen, Inc.*		234		269
Atara Biotherapeutics, Inc.*		165		266
Vigil Neuroscience, Inc.*		28		263
Tango Therapeutics, Inc.*		77		256
Citius Pharmaceuticals, Inc.*		213		256
Allovir, Inc.*		73		248
Innovage Holding Corp.*		33		248
Foghorn Therapeutics, Inc.*		35		246
XOMA Corp.*		13		246
Ikena Oncology, Inc.*		37		243
PDS Biotechnology Corp.*		48		241
Semler Scientific, Inc.*		9		236
Omega Therapeutics, Inc.*		42		235
HireQuest, Inc.		9		234
BioAtla, Inc.*		77		231
Cara Therapeutics, Inc.*		81		229
Akoya Biosciences, Inc.*		31		229
Selecta Biosciences, Inc.*		201		225
Vicarious Surgical, Inc.*		121		221
Merrimack Pharmaceuticals, Inc.*		18		221
Bioxcel Therapeutics, Inc.*		33		220
Cue Biopharma, Inc.*		60		219
KORU Medical Systems, Inc.*		61		210
Verrica Pharmaceuticals, Inc.*		36		208
Poseida Therapeutics, Inc.*		118		208
Heron Therapeutics, Inc.*		179		208
P3 Health Partners, Inc.*		69		206
Cipher Mining, Inc.*,1		72		206
Quad/Graphics, Inc.*		54		203
Pulse Biosciences, Inc.*		28		201
Vor BioPharma, Inc.*		65		201
Longboard Pharmaceuticals, Inc.*		27		198
Natural Grocers by Vitamin Cottage, Inc.		16		196
Acrivon Therapeutics, Inc.*		15		194
NGM Biopharmaceuticals, Inc.*		75		194
Protalix BioTherapeutics, Inc.*		97		194
IGM Biosciences, Inc.*		21		194
CompoSecure, Inc.*		28		192
Nuvectis Pharma, Inc.*		12		192
Aadi Bioscience, Inc.*		28		192
Beyond Air, Inc.*		44		187
Vaxxinity, Inc. — Class A*,1		74		186
Zevia PBC — Class A*		43		185
AirSculpt Technologies, Inc.		21		181
Trevi Therapeutics, Inc.*		72		172
Rent the Runway, Inc. — Class A*		83		164
Genelux Corp.*		5		164
Third Harmonic Bio, Inc.*		34		164
CPI Card Group, Inc.*		7		163
Biote Corp. — Class A*		24		162
Optinose, Inc.*		126		155
PepGen, Inc.*		17		152
Bakkt Holdings, Inc.*,1		121		149
Aveanna Healthcare Holdings, Inc.*		87		147
Larimar Therapeutics, Inc.*		44		138
Century Therapeutics, Inc.*		41		130
Adicet Bio, Inc.*		53		129
Graphite Bio, Inc.*		49		127
Nkarta, Inc.*		52		114
Eyenovia, Inc.*		48		114
Thorne HealthTech, Inc.*		24		113
Priority Technology Holdings, Inc.*		31		112
Reneo Pharmaceuticals, Inc.*		17		112
Emerald Holding, Inc.*		27		111
MarketWise, Inc.		55		110
Zura Bio Ltd.*		13		107
Bright Green Corp.*		104		105
Forafric Global plc*		9		99
ViewRay, Inc.*		259		91
Ocean Biomedical, Inc.*		15		90
Prelude Therapeutics, Inc.*		17		77
Orchestra BioMed Holdings, Inc.*		7		49
Ispire Technology, Inc.*		5		46
Rain Oncology, Inc.*		29		35
BioVie, Inc.*		6		26
Babylon Holdings Ltd. — Class A*		17		1
Ligand Pharmaceuticals, Inc.*,††		12		–
Ligand Pharmaceuticals, Inc.*,††		12		–
Total Consumer, Non-cyclical				1,010,492
Financial - 12.3%
Selective Insurance Group, Inc.		104		9,979
Ryman Hospitality Properties, Inc. REIT		100		9,292
SouthState Corp.		132		8,686
Essent Group Ltd.		183		8,564
Terreno Realty Corp. REIT		142		8,534
Kite Realty Group Trust REIT		377		8,422
Home BancShares, Inc.		330		7,524
PotlatchDeltic Corp. REIT		137		7,240
Independence Realty Trust, Inc. REIT		391		7,124
Old National Bancorp		508		7,082
American Equity Investment Life Holding Co.		135		7,035
Phillips Edison & Company, Inc. REIT		204		6,952
Radian Group, Inc.		273		6,901
United Bankshares, Inc.		227		6,735
First Financial Bankshares, Inc.		226		6,439
Blackstone Mortgage Trust, Inc. — Class A REIT		299		6,222
Cadence Bank		316		6,206
Essential Properties Realty Trust, Inc. REIT		258		6,073

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Glacier Bancorp, Inc.		193	$	6,016
Mr Cooper Group, Inc.*		115		5,824
Valley National Bancorp		748		5,797
Physicians Realty Trust REIT		412		5,764
Hancock Whitney Corp.		150		5,757
Apple Hospitality REIT, Inc.		374		5,651
FTAI Aviation Ltd.		172		5,445
Focus Financial Partners, Inc. — Class A*		102		5,356
Moelis & Co. — Class A		116		5,259
Enstar Group Ltd.*		21		5,129
Hamilton Lane, Inc. — Class A		63		5,039
Broadstone Net Lease, Inc. REIT		326		5,033
United Community Banks, Inc.		200		4,998
LXP Industrial Trust REIT		502		4,895
Sabra Health Care REIT, Inc.		401		4,720
UMB Financial Corp.		77		4,689
CNO Financial Group, Inc.		197		4,663
Corporate Office Properties Trust REIT		195		4,631
Arbor Realty Trust, Inc. REIT1		311		4,609
Upstart Holdings, Inc.*,1		125		4,476
Hannon Armstrong Sustainable Infrastructure Capital, Inc. REIT		179		4,475
SITE Centers Corp. REIT		330		4,363
Walker & Dunlop, Inc.		55		4,350
Jackson Financial, Inc. — Class A		141		4,316
Community Bank System, Inc.		92		4,313
Texas Capital Bancshares, Inc.*		83		4,275
Associated Banc-Corp.		262		4,252
Macerich Co. REIT		374		4,215
Genworth Financial, Inc. — Class A*		841		4,205
Artisan Partners Asset Management, Inc. — Class A		106		4,167
International Bancshares Corp.		93		4,111
Outfront Media, Inc. REIT		256		4,024
WSFS Financial Corp.		106		3,998
McGrath RentCorp		43		3,977
Ameris Bancorp		115		3,934
Tanger Factory Outlet Centers, Inc. REIT		177		3,906
Piper Sandler Cos.		30		3,878
Axos Financial, Inc.*		98		3,865
Cathay General Bancorp		120		3,863
Four Corners Property Trust, Inc. REIT		150		3,810
Simmons First National Corp. — Class A		219		3,778
National Health Investors, Inc. REIT		72		3,774
First BanCorp		307		3,752
Douglas Emmett, Inc. REIT		295		3,708
Equity Commonwealth REIT		182		3,687
NMI Holdings, Inc. — Class A*		142		3,666
Sunstone Hotel Investors, Inc. REIT		361		3,653
ServisFirst Bancshares, Inc.		88		3,601
Innovative Industrial Properties, Inc. REIT		48		3,504
BancFirst Corp.		38		3,496
CareTrust REIT, Inc.		174		3,456
Independent Bank Corp.		77		3,427
SL Green Realty Corp. REIT1		114		3,426
First Interstate BancSystem, Inc. — Class A		143		3,409
Pacific Premier Bancorp, Inc.		164		3,391
Kennedy-Wilson Holdings, Inc.		207		3,380
Atlantic Union Bankshares Corp.		130		3,373
Fulton Financial Corp.		282		3,361
First Financial Bancorp		163		3,332
Eastern Bankshares, Inc.		268		3,288
Pagseguro Digital Ltd. — Class A*		344		3,247
Seacoast Banking Corporation of Florida		146		3,227
Ready Capital Corp. REIT		277		3,125
PennyMac Financial Services, Inc.		44		3,094
Urban Edge Properties REIT		199		3,071
CVB Financial Corp.		231		3,068
Bancorp, Inc.*		93		3,036
Washington Federal, Inc.		113		2,997
Navient Corp.		160		2,973
Pebblebrook Hotel Trust REIT		210		2,927
PJT Partners, Inc. — Class A		42		2,925
JBG SMITH Properties REIT		194		2,918
DiamondRock Hospitality Co. REIT		364		2,916
St. Joe Co.		60		2,900
First Merchants Corp.		102		2,879
Retail Opportunity Investments Corp. REIT		213		2,878
TowneBank		122		2,835
RLJ Lodging Trust REIT		276		2,835
Enova International, Inc.*		53		2,815
Bank of Hawaii Corp.		68		2,804
Apollo Commercial Real Estate Finance, Inc. REIT		246		2,785
BankUnited, Inc.		129		2,780
Bread Financial Holdings, Inc.		87		2,731
InvenTrust Properties Corp. REIT		118		2,731
Getty Realty Corp. REIT		78		2,638
Cohen & Steers, Inc.		45		2,610
Banner Corp.		59		2,577
StoneX Group, Inc.*		31		2,575
WesBanco, Inc.		100		2,561
Park National Corp.		25		2,558
Hilltop Holdings, Inc.		81		2,548
BRP Group, Inc. — Class A*		102		2,528
Renasant Corp.		96		2,508
Cannae Holdings, Inc.*		124		2,506
Elme Communities REIT		152		2,499
Service Properties Trust REIT		286		2,485
Enterprise Financial Services Corp.		63		2,463
Palomar Holdings, Inc.*		42		2,438
eXp World Holdings, Inc.		120		2,434
Nelnet, Inc. — Class A		25		2,412
BGC Partners, Inc. — Class A		544		2,410
Bank of NT Butterfield & Son Ltd.		87		2,380
Xenia Hotels & Resorts, Inc. REIT		193		2,376
Virtus Investment Partners, Inc.		12		2,370
Compass Diversified Holdings		109		2,364

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Cushman & Wakefield plc*		288	$	2,356
LTC Properties, Inc. REIT		71		2,344
Northwest Bancshares, Inc.		221		2,343
Alexander & Baldwin, Inc. REIT		126		2,341
City Holding Co.		26		2,340
Two Harbors Investment Corp. REIT		168		2,332
Acadia Realty Trust REIT		162		2,331
Goosehead Insurance, Inc. — Class A*		37		2,327
Chimera Investment Corp. REIT		403		2,325
Easterly Government Properties, Inc. REIT		160		2,320
Triumph Financial, Inc.*		38		2,307
StepStone Group, Inc. — Class A		93		2,307
Farmer Mac — Class C		16		2,300
NBT Bancorp, Inc.		72		2,293
Redfin Corp.*		184		2,285
First Commonwealth Financial Corp.		177		2,239
Pathward Financial, Inc.		48		2,225
Trustmark Corp.		105		2,218
Veris Residential, Inc. REIT*		137		2,199
Radius Global Infrastructure, Inc. — Class A*		147		2,190
Apartment Investment and Management Co. — Class A REIT		257		2,190
Independent Bank Group, Inc.		63		2,175
Stock Yards Bancorp, Inc.		47		2,132
Ladder Capital Corp. — Class A REIT		196		2,127
OFG Bancorp		81		2,112
Horace Mann Educators Corp.		71		2,106
Lakeland Financial Corp.		43		2,086
Provident Financial Services, Inc.		127		2,075
PennyMac Mortgage Investment Trust REIT		153		2,062
First Bancorp		69		2,053
Franklin BSP Realty Trust, Inc. REIT		144		2,039
Heartland Financial USA, Inc.		73		2,035
MFA Financial, Inc. REIT		177		1,989
Encore Capital Group, Inc.*		40		1,945
Stellar Bancorp, Inc.		84		1,923
Uniti Group, Inc. REIT		413		1,908
NETSTREIT Corp. REIT		106		1,894
Stewart Information Services Corp.		46		1,892
Global Net Lease, Inc. REIT		181		1,861
National Bank Holdings Corp. — Class A		64		1,859
S&T Bancorp, Inc.		67		1,822
ARMOUR Residential REIT, Inc.1		340		1,812
Compass, Inc. — Class A*		517		1,810
First Busey Corp.		90		1,809
LendingClub Corp.*		184		1,794
Safety Insurance Group, Inc.		25		1,793
TriCo Bancshares		54		1,793
Claros Mortgage Trust, Inc.		157		1,780
NexPoint Residential Trust, Inc. REIT		39		1,774
AMERISAFE, Inc.		33		1,759
Sandy Spring Bancorp, Inc.		76		1,724
Westamerica BanCorp		45		1,724
Employers Holdings, Inc.		46		1,721
Empire State Realty Trust, Inc. — Class A REIT		229		1,715
FB Financial Corp.		61		1,711
Plymouth Industrial REIT, Inc.		74		1,703
PacWest Bancorp1		208		1,695
Hope Bancorp, Inc.		200		1,684
National Western Life Group, Inc. — Class A		4		1,662
WisdomTree, Inc.		239		1,640
American Assets Trust, Inc. REIT		85		1,632
Veritex Holdings, Inc.		91		1,632
Argo Group International Holdings Ltd.*		55		1,628
Centerspace REIT		26		1,595
OceanFirst Financial Corp.		101		1,578
Berkshire Hills Bancorp, Inc.		76		1,575
Necessity Retail REIT, Inc.		233		1,575
New York Mortgage Trust, Inc. REIT		158		1,567
Peoples Bancorp, Inc.		59		1,566
Ellington Financial, Inc. REIT		113		1,559
RPT Realty REIT		149		1,557
Piedmont Office Realty Trust, Inc. — Class A REIT		214		1,556
PRA Group, Inc.*		67		1,531
Live Oak Bancshares, Inc.		58		1,526
Avantax, Inc.*		68		1,522
UMH Properties, Inc. REIT		95		1,518
Victory Capital Holdings, Inc. — Class A		48		1,514
Customers Bancorp, Inc.*		50		1,513
BrightSpire Capital, Inc. REIT		223		1,501
Origin Bancorp, Inc.		51		1,494
Nicolet Bankshares, Inc.		22		1,494
Lemonade, Inc.*,1		88		1,483
B Riley Financial, Inc.1		32		1,471
Community Healthcare Trust, Inc. REIT		44		1,453
Newmark Group, Inc. — Class A		233		1,449
Lakeland Bancorp, Inc.		108		1,446
SiriusPoint Ltd.*		158		1,427
ProAssurance Corp.		94		1,418
Paramount Group, Inc. REIT		320		1,418
Mercury General Corp.		46		1,392
Brandywine Realty Trust REIT		295		1,372
First Bancshares, Inc.		53		1,370
Armada Hoffler Properties, Inc. REIT		117		1,367
Capitol Federal Financial, Inc.		221		1,364
Trupanion, Inc.*		69		1,358
Patria Investments Ltd. — Class A		94		1,344
Peakstone Realty Trust REIT		48		1,340
Tompkins Financial Corp.		24		1,337
Southside Bancshares, Inc.		51		1,334
German American Bancorp, Inc.		49		1,332
Bank First Corp.		16		1,331
Marcus & Millichap, Inc.		42		1,323
Brookline Bancorp, Inc.		151		1,320
Enact Holdings, Inc.		52		1,307

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
International Money Express, Inc.*		53	$	1,300
Preferred Bank/Los Angeles CA		23		1,265
Redwood Trust, Inc. REIT		197		1,255
Anywhere Real Estate, Inc.*		187		1,249
KKR Real Estate Finance Trust, Inc. REIT		102		1,241
Safehold, Inc. REIT		52		1,234
1st Source Corp.		29		1,216
QCR Holdings, Inc.		29		1,190
Summit Hotel Properties, Inc. REIT		182		1,185
Dynex Capital, Inc. REIT		94		1,183
Brightsphere Investment Group, Inc.		56		1,173
James River Group Holdings Ltd.		64		1,169
AssetMark Financial Holdings, Inc.*		38		1,127
Eagle Bancorp, Inc.		53		1,121
Applied Digital Corp.*,1		118		1,103
Banc of California, Inc.		95		1,100
Ambac Financial Group, Inc.*		77		1,096
Dime Community Bancshares, Inc.		61		1,075
Farmland Partners, Inc. REIT		88		1,074
ConnectOne Bancorp, Inc.		64		1,062
Universal Health Realty Income Trust REIT		22		1,047
Urstadt Biddle Properties, Inc. — Class A REIT		49		1,042
CBL & Associates Properties, Inc. REIT		47		1,036
Hudson Pacific Properties, Inc. REIT		239		1,009
Old Second Bancorp, Inc.		75		979
Premier Financial Corp.		61		977
Heritage Financial Corp.		60		970
Global Medical REIT, Inc.		106		968
Community Trust Bancorp, Inc.		27		960
Gladstone Land Corp. REIT		58		944
Diversified Healthcare Trust REIT		414		932
First Community Bankshares, Inc.		31		922
TrustCo Bank Corporation NY		32		916
Ares Commercial Real Estate Corp. REIT		90		914
Univest Financial Corp.		50		904
TPG RE Finance Trust, Inc. REIT		120		889
Columbia Financial, Inc.*		51		882
Gladstone Commercial Corp. REIT		70		866
Diamond Hill Investment Group, Inc.		5		856
Heritage Commerce Corp.		103		853
Brookfield Business Corp. — Class A		45		850
Invesco Mortgage Capital, Inc. REIT		73		837
P10, Inc. — Class A		74		836
United Fire Group, Inc.		36		816
Whitestone REIT — Class B		84		815
Peapack-Gladstone Financial Corp.		30		812
Great Southern Bancorp, Inc.		16		812
World Acceptance Corp.*		6		804
First Mid Bancshares, Inc.		33		797
F&G Annuities & Life, Inc.		32		793
Farmers National Banc Corp.		64		792
Hanmi Financial Corp.		53		791
Northfield Bancorp, Inc.		72		791
Horizon Bancorp, Inc.		75		781
Byline Bancorp, Inc.		43		778
Washington Trust Bancorp, Inc.		29		777
Chatham Lodging Trust REIT		83		777
Camden National Corp.		25		774
Amerant Bancorp, Inc.		45		774
CrossFirst Bankshares, Inc.*		77		770
Mercantile Bank Corp.		27		746
Midland States Bancorp, Inc.		37		737
Saul Centers, Inc. REIT		20		737
Alexander's, Inc. REIT		4		735
MBIA, Inc.*		84		726
Central Pacific Financial Corp.		46		723
Coastal Financial Corp.*		19		715
Burke & Herbert Financial Services Corp.		11		706
Cambridge Bancorp		13		706
Capital City Bank Group, Inc.		23		705
Orchid Island Capital, Inc. REIT		68		704
Kearny Financial Corp.		99		698
Merchants Bancorp		27		691
HCI Group, Inc.		11		680
Universal Insurance Holdings, Inc.		44		679
NexPoint Diversified Real Estate Trust REIT		53		664
Orion Office REIT, Inc.		99		654
CTO Realty Growth, Inc. REIT		38		651
First Financial Corp.		20		649
Bar Harbor Bankshares		26		641
Hingham Institution For Savings The		3		639
Office Properties Income Trust REIT		83		639
Republic Bancorp, Inc. — Class A		15		638
NewtekOne, Inc.		40		636
CNB Financial Corp.		36		635
HarborOne Bancorp, Inc.		73		634
FRP Holdings, Inc.*		11		633
Business First Bancshares, Inc.		42		633
FTAI Infrastructure, Inc.		171		631
Tiptree, Inc. — Class A		42		630
RMR Group, Inc. — Class A		27		626
Metropolitan Bank Holding Corp.*		18		625
Perella Weinberg Partners		74		616
Carter Bankshares, Inc.*		41		606
Flushing Financial Corp.		49		602
Citizens Financial Services, Inc.		8		596
Independent Bank Corp.		35		594
Equity Bancshares, Inc. — Class A		26		592
SmartFinancial, Inc.		27		581

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
RE/MAX Holdings, Inc. — Class A		30	$	578
Southern Missouri Bancorp, Inc.		15		577
Alerus Financial Corp.		32		575
Metrocity Bankshares, Inc.		32		572
One Liberty Properties, Inc. REIT		28		569
HomeTrust Bancshares, Inc.		27		564
NerdWallet, Inc. — Class A*		59		555
Mid Penn Bancorp, Inc.		25		552
Esquire Financial Holdings, Inc.		12		549
GCM Grosvenor, Inc. — Class A		72		543
Northeast Bank		13		542
Farmers & Merchants Bancorp Incorporated/Archbold OH		24		540
MidWestOne Financial Group, Inc.		25		534
Peoples Financial Services Corp.		12		525
American National Bankshares, Inc.		18		522
West BanCorp, Inc.		28		515
Bit Digital, Inc.*		125		507
Arrow Financial Corp.		25		503
Citizens & Northern Corp.		26		502
Amalgamated Financial Corp.		31		499
Five Star Bancorp		22		492
Enterprise Bancorp, Inc.		17		492
Bank of Marin Bancorp		27		477
Greenlight Capital Re Ltd. — Class A*		45		474
South Plains Financial, Inc.		21		473
Postal Realty Trust, Inc. — Class A REIT		32		471
Civista Bancshares, Inc.		27		470
Granite Point Mortgage Trust, Inc. REIT		88		466
ACNB Corp.		14		464
Waterstone Financial, Inc.		32		464
Forge Global Holdings, Inc.*		190		462
Selectquote, Inc.*		236		460
Braemar Hotels & Resorts, Inc. REIT		114		458
Skyward Specialty Insurance Group, Inc.*,1		18		457
First of Long Island Corp.		37		445
John Marshall Bancorp, Inc.		22		442
Blue Foundry Bancorp*		43		435
Home Bancorp, Inc.		13		432
Regional Management Corp.		14		427
Macatawa Bank Corp.		46		427
Chicago Atlantic Real Estate Finance, Inc. REIT		28		424
HBT Financial, Inc.		23		424
MVB Financial Corp.		20		422
Capstar Financial Holdings, Inc.		34		417
BRT Apartments Corp. REIT		21		416
First Bancorp, Inc.		17		414
First Business Financial Services, Inc.		14		413
Financial Institutions, Inc.		26		409
Sierra Bancorp		24		407
Guaranty Bancshares, Inc.		15		406
LendingTree, Inc.*		18		398
Legacy Housing Corp.*		17		394
Northrim BanCorp, Inc.		10		393
Red River Bancshares, Inc.		8		393
Summit Financial Group, Inc.		19		393
Donegal Group, Inc. — Class A		27		390
Fidelity D&D Bancorp, Inc.		8		389
Norwood Financial Corp.		13		384
Sculptor Capital Management, Inc.		43		380
City Office REIT, Inc.		68		379
Middlefield Banc Corp.		14		375
Alpine Income Property Trust, Inc. REIT		23		374
Shore Bancshares, Inc.		31		358
Greene County Bancorp, Inc.		12		358
First Foundation, Inc.		89		353
Third Coast Bancshares, Inc.*		22		349
AFC Gamma, Inc. REIT		28		349
RBB Bancorp		29		346
Bridgewater Bancshares, Inc.*		35		345
Orrstown Financial Services, Inc.		18		345
Silvercrest Asset Management Group, Inc. — Class A		17		344
Northeast Community Bancorp, Inc.		23		342
eHealth, Inc.*		42		338
Atlanticus Holdings Corp.*		8		336
BayCom Corp.		20		334
Codorus Valley Bancorp, Inc.		17		333
Orange County Bancorp, Inc.		9		333
Timberland Bancorp, Inc.		13		332
FS Bancorp, Inc.		11		331
Maiden Holdings Ltd.*		157		330
Ocwen Financial Corp.*		11		330
Hersha Hospitality Trust — Class A REIT		54		329
Star Holdings*		22		323
C&F Financial Corp.		6		322
Southern First Bancshares, Inc.*		13		322
Plumas Bancorp		9		321
Douglas Elliman, Inc.		141		312
Capital Bancorp, Inc.		17		308
Unity Bancorp, Inc.		13		307
Parke Bancorp, Inc.		18		306
BCB Bancorp, Inc.		26		305
Ponce Financial Group, Inc.*		35		304
Oak Valley Bancorp		12		302
FVCBankcorp, Inc.*		28		302
Penns Woods Bancorp, Inc.		12		300
Hippo Holdings, Inc.*		18		297
Primis Financial Corp.		35		295
Investors Title Co.		2		292
National Bankshares, Inc.		10		292
First Bank/Hamilton NJ		28		291
PCB Bancorp		19		279
Crawford & Co. — Class A		25		277
ChoiceOne Financial Services, Inc.		12		276
AlTi Global, Inc.*		36		276
Southern States Bancshares, Inc.		13		274
Colony Bankcorp, Inc.		29		273
MainStreet Bancshares, Inc.		12		272
Ames National Corp.		15		270
LCNB Corp.		18		266

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Blue Ridge Bankshares, Inc.		30	$	265
Central Valley Community Bancorp		17		263
Stratus Properties, Inc.		10		263
First Western Financial, Inc.*		14		260
Virginia National Bankshares Corp.		8		257
Princeton Bancorp, Inc.		9		246
Community Financial Corp.		9		244
Bankwell Financial Group, Inc.		10		244
Chemung Financial Corp.		6		230
First Community Corp.		13		226
Evans Bancorp, Inc.		9		224
ESSA Bancorp, Inc.		15		224
Nexpoint Real Estate Finance, Inc. REIT		14		218
NI Holdings, Inc.*		14		208
Sterling Bancorp, Inc.*		36		197
Consumer Portfolio Services, Inc.*		16		187
Security National Financial Corp. — Class A*		21		186
Maui Land & Pineapple Company, Inc.*		13		185
USCB Financial Holdings, Inc.*		18		184
HomeStreet, Inc.		31		184
Pioneer Bancorp, Inc.*		20		179
Finance of America Companies, Inc. — Class A*		92		176
Velocity Financial, Inc.*		15		173
Angel Oak Mortgage REIT, Inc.		20		165
Luther Burbank Corp.		18		161
United Insurance Holdings Corp.*		34		152
Bank7 Corp.		6		147
Kingsway Financial Services, Inc.*		18		147
Paysign, Inc.*		57		140
GoHealth, Inc. — Class A*		7		138
Clipper Realty, Inc. REIT		22		125
SWK Holdings Corp.*		7		117
Transcontinental Realty Investors, Inc.*		3		110
American Realty Investors, Inc.*		3		65
OppFi, Inc.*		19		39
Home Point Capital, Inc.*		14		32
Total Financial				834,095
Industrial - 9.3%
Chart Industries, Inc.*		73		11,665
Novanta, Inc.*		62		11,414
Atkore, Inc.*		69		10,760
Simpson Manufacturing Company, Inc.		74		10,249
UFP Industries, Inc.		104		10,093
Comfort Systems USA, Inc.		61		10,016
Applied Industrial Technologies, Inc.		67		9,704
Casella Waste Systems, Inc. — Class A*		96		8,683
Watts Water Technologies, Inc. — Class A		47		8,635
Mueller Industries, Inc.		97		8,466
Fabrinet*		64		8,312
Franklin Electric Company, Inc.		80		8,232
Exponent, Inc.		88		8,212
GATX Corp.		62		7,982
Summit Materials, Inc. — Class A*		207		7,835
EnerSys		71		7,705
Aerojet Rocketdyne Holdings, Inc.*		138		7,572
Badger Meter, Inc.		51		7,526
AAON, Inc.		78		7,395
Fluor Corp.*		247		7,311
Advanced Energy Industries, Inc.		65		7,244
Belden, Inc.		74		7,078
Terex Corp.		116		6,940
Zurn Elkay Water Solutions Corp.		256		6,884
John Bean Technologies Corp.		55		6,672
Federal Signal Corp.		104		6,659
Vishay Intertechnology, Inc.		223		6,556
SPX Technologies, Inc.*		76		6,458
Arcosa, Inc.		84		6,365
Boise Cascade Co.		69		6,234
Hillenbrand, Inc.		120		6,154
Sanmina Corp.*		100		6,027
O-I Glass, Inc.*		269		5,738
Itron, Inc.*		79		5,696
Dycom Industries, Inc.*		50		5,683
Bloom Energy Corp. — Class A*		334		5,461
Encore Wire Corp.		29		5,392
Moog, Inc. — Class A		49		5,313
Albany International Corp. — Class A		54		5,037
Joby Aviation, Inc.*		483		4,955
Werner Enterprises, Inc.		110		4,860
Matson, Inc.		62		4,819
EnPro Industries, Inc.		36		4,807
Forward Air Corp.		45		4,775
Cactus, Inc. — Class A		112		4,740
Plexus Corp.*		48		4,716
Hub Group, Inc. — Class A*		57		4,578
Frontdoor, Inc.*		143		4,562
ESCO Technologies, Inc.		44		4,560
RXO, Inc.*		201		4,557
CSW Industrials, Inc.		27		4,487
Kadant, Inc.		20		4,442
AeroVironment, Inc.*		43		4,398
Mueller Water Products, Inc. — Class A		269		4,366
Scorpio Tankers, Inc.		91		4,298
Enovix Corp.*		237		4,275
Energizer Holdings, Inc.		124		4,164
ArcBest Corp.		42		4,150
Materion Corp.		36		4,111
Kennametal, Inc.		140		3,975
Masonite International Corp.*		38		3,893
MYR Group, Inc.*		28		3,874
Knife River Corp.*		88		3,828
Helios Technologies, Inc.		57		3,767
Worthington Industries, Inc.		53		3,682
Trinity Industries, Inc.		141		3,625
Barnes Group, Inc.		85		3,586
Golar LNG Ltd.		175		3,530
AAR Corp.*		60		3,466
Gibraltar Industries, Inc.*		54		3,397

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
OSI Systems, Inc.*		27	$	3,181
Alamo Group, Inc.		17		3,126
Kratos Defense & Security Solutions, Inc.*		217		3,112
Griffon Corp.		76		3,063
Granite Construction, Inc.		76		3,023
Greif, Inc. — Class A		43		2,962
PGT Innovations, Inc.*		101		2,944
Modine Manufacturing Co.*		89		2,939
Mirion Technologies, Inc.*		347		2,932
Sterling Infrastructure, Inc.*		52		2,902
Rocket Lab USA, Inc.*		483		2,898
Standex International Corp.		20		2,829
Knowles Corp.*		156		2,817
Primoris Services Corp.		92		2,803
Enerpac Tool Group Corp.		100		2,700
Hillman Solutions Corp.*		299		2,694
Energy Recovery, Inc.*		96		2,683
International Seaways, Inc.		70		2,677
NV5 Global, Inc.*		24		2,658
Masterbrand, Inc.*		225		2,617
Tennant Co.		32		2,596
JELD-WEN Holding, Inc.*		147		2,578
TTM Technologies, Inc.*		177		2,460
Greenbrier Companies, Inc.		55		2,370
CTS Corp.		54		2,302
Lindsay Corp.		19		2,267
American Woodmark Corp.*		29		2,215
World Kinect Corp.		107		2,213
Construction Partners, Inc. — Class A*		70		2,197
Marten Transport Ltd.		101		2,171
NEXTracker, Inc. — Class A*		54		2,150
PureCycle Technologies, Inc.*		201		2,149
Vicor Corp.*		38		2,052
DHT Holdings, Inc.		238		2,030
Montrose Environmental Group, Inc.*		48		2,022
Columbus McKinnon Corp.		49		1,992
TriMas Corp.		72		1,979
Napco Security Technologies, Inc.		55		1,906
AZZ, Inc.		43		1,869
SFL Corporation Ltd.		199		1,857
Air Transport Services Group, Inc.*		98		1,849
Ichor Holdings Ltd.*		49		1,838
Apogee Enterprises, Inc.		38		1,804
Astec Industries, Inc.		39		1,772
CIRCOR International, Inc.*		31		1,750
GrafTech International Ltd.		336		1,693
Ryerson Holding Corp.		39		1,692
TimkenSteel Corp.*		75		1,618
Proto Labs, Inc.*		46		1,608
Golden Ocean Group Ltd.		213		1,608
Sturm Ruger & Company, Inc.		30		1,589
FLEX LNG Ltd.		52		1,588
Chase Corp.		13		1,576
Benchmark Electronics, Inc.		61		1,576
Teekay Tankers Ltd. — Class A		41		1,567
Janus International Group, Inc.*		147		1,567
Thermon Group Holdings, Inc.*		58		1,543
Leonardo DRS, Inc.*		87		1,508
Dorian LPG Ltd.		55		1,411
MicroVision, Inc.*		306		1,401
Triumph Group, Inc.*		112		1,385
Enviri Corp.*		137		1,352
Heartland Express, Inc.		81		1,329
Li-Cycle Holdings Corp.*		239		1,327
Nordic American Tankers Ltd.		355		1,303
CryoPort, Inc.*		74		1,276
Xometry, Inc. — Class A*		59		1,249
Myers Industries, Inc.		63		1,224
SmartRent, Inc.*		319		1,222
Kaman Corp.		49		1,192
nLight, Inc.*		76		1,172
Evolv Technologies Holdings, Inc.*		195		1,170
Mesa Laboratories, Inc.		9		1,156
Gorman-Rupp Co.		40		1,153
Eagle Bulk Shipping, Inc.1		24		1,153
Kimball Electronics, Inc.*		41		1,133
Manitowoc Company, Inc.*		60		1,130
Archer Aviation, Inc. — Class A*		264		1,088
Hyster-Yale Materials Handling, Inc.		19		1,061
Bel Fuse, Inc. — Class B		18		1,033
Smith & Wesson Brands, Inc.		79		1,030
Genco Shipping & Trading Ltd.		73		1,024
Heritage-Crystal Clean, Inc.*		27		1,020
Insteel Industries, Inc.		32		996
Powell Industries, Inc.		16		970
Allied Motion Technologies, Inc.		24		959
LSB Industries, Inc.*		95		936
Great Lakes Dredge & Dock Corp.*		114		930
GoPro, Inc. — Class A*		224		927
DXP Enterprises, Inc.*		25		910
Clearwater Paper Corp.*		29		908
Astronics Corp.*		45		894
Ardmore Shipping Corp.		71		877
Stoneridge, Inc.*		46		867
Argan, Inc.		22		867
Olympic Steel, Inc.		17		833
Ducommun, Inc.*		19		828
Costamare, Inc.		84		812
IES Holdings, Inc.*		14		796
NVE Corp.		8		780
Cadre Holdings, Inc.		34		741
Greif, Inc. — Class B		9		695
Teekay Corp.*		115		695
Aspen Aerogels, Inc.*		88		694
Luxfer Holdings plc		48		683
CECO Environmental Corp.*		51		681
National Presto Industries, Inc.		9		659
Covenant Logistics Group, Inc. — Class A		15		657
AerSale Corp.*		44		647
NuScale Power Corp.*		93		632
Omega Flex, Inc.		6		623
Babcock & Wilcox Enterprises, Inc.*		102		602
FARO Technologies, Inc.*		35		567
LSI Industries, Inc.		45		565
Bowman Consulting Group Ltd.*		17		542
Tutor Perini Corp.*		74		529
Pactiv Evergreen, Inc.		69		523
Northwest Pipe Co.*		17		514

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Daseke, Inc.*		70	$	499
Blink Charging Co.*,1		80		479
Park Aerospace Corp.		34		469
Eastman Kodak Co.*		99		457
Radiant Logistics, Inc.*		64		430
Comtech Telecommunications Corp.		47		430
Pangaea Logistics Solutions Ltd.		63		427
Overseas Shipholding Group, Inc. — Class A*		100		417
Safe Bulkers, Inc.		122		398
Limbach Holdings, Inc.*		16		396
Akoustis Technologies, Inc.*		120		382
Pure Cycle Corp.*		34		374
Concrete Pumping Holdings, Inc.*		45		361
Universal Logistics Holdings, Inc.		12		346
Ranpak Holdings Corp.*		75		339
AMMO, Inc.*		156		332
US Xpress Enterprises, Inc. — Class A*		54		332
Eve Holding, Inc.*		31		325
Turtle Beach Corp.*		27		315
Tredegar Corp.		46		307
Sight Sciences, Inc.*		37		306
Core Molding Technologies, Inc.*		13		296
PAM Transportation Services, Inc.*		11		294
Iteris, Inc.*		74		293
Park-Ohio Holdings Corp.		15		285
Gencor Industries, Inc.*		18		280
Mistras Group, Inc.*		36		278
Himalaya Shipping Ltd.*		47		261
908 Devices, Inc.*		38		261
SKYX Platforms Corp.*		98		261
Latham Group, Inc.*		67		249
374Water, Inc.*		103		246
LanzaTech Global, Inc.*		36		246
Mayville Engineering Company, Inc.*		19		237
ESS Tech, Inc.*		158		232
Charge Enterprises, Inc.*		233		228
Willis Lease Finance Corp.*		5		196
Karat Packaging, Inc.		10		183
Intevac, Inc.*		44		165
Transphorm, Inc.*		47		160
Berkshire Grey, Inc.*		110		155
INNOVATE Corp.*		79		138
NL Industries, Inc.		15		83
Amprius Technologies, Inc.*		9		65
Southland Holdings, Inc.*		7		57
Redwire Corp.*		14		36
Total Industrial				626,921
Consumer, Cyclical - 7.2%
Light & Wonder, Inc. — Class A*		158		10,864
Asbury Automotive Group, Inc.*		38		9,136
Meritage Homes Corp.		63		8,963
Taylor Morrison Home Corp. — Class A*		182		8,876
Fox Factory Holding Corp.*		74		8,030
Beacon Roofing Supply, Inc.*		85		7,053
Visteon Corp.*		49		7,037
Academy Sports & Outdoors, Inc.		129		6,972
Goodyear Tire & Rubber Co.*		488		6,676
KB Home		128		6,619
Hilton Grand Vacations, Inc.*		141		6,407
Adient plc*		166		6,361
Group 1 Automotive, Inc.		24		6,194
Skyline Champion Corp.*		93		6,087
FirstCash Holdings, Inc.		65		6,066
International Game Technology plc		188		5,995
Installed Building Products, Inc.		41		5,746
Tri Pointe Homes, Inc.*		172		5,652
LCI Industries		43		5,433
JetBlue Airways Corp.*		573		5,077
Shake Shack, Inc. — Class A*		65		5,052
Signet Jewelers Ltd.		77		5,025
GMS, Inc.*		72		4,982
Topgolf Callaway Brands Corp.*		249		4,943
LGI Homes, Inc.*		36		4,856
MDC Holdings, Inc.		102		4,770
Resideo Technologies, Inc.*		254		4,486
Papa John's International, Inc.		60		4,430
Cavco Industries, Inc.*		15		4,425
Boot Barn Holdings, Inc.*		52		4,404
Rush Enterprises, Inc. — Class A		72		4,373
Carvana Co.*		166		4,303
Steven Madden Ltd.		130		4,250
M/I Homes, Inc.*		47		4,098
Bloomin' Brands, Inc.		152		4,087
Kontoor Brands, Inc.		96		4,042
UniFirst Corp.		26		4,030
SeaWorld Entertainment, Inc.*		69		3,865
Foot Locker, Inc.		142		3,850
Dana, Inc.		226		3,842
Red Rock Resorts, Inc. — Class A		82		3,836
Century Communities, Inc.		49		3,754
American Eagle Outfitters, Inc.		317		3,741
Urban Outfitters, Inc.*		111		3,677
Dorman Products, Inc.*		46		3,626
Sonos, Inc.*		220		3,593
Cracker Barrel Old Country Store, Inc.		38		3,541
Jack in the Box, Inc.		36		3,511
SkyWest, Inc.*		84		3,420
Allegiant Travel Co. — Class A*		27		3,410
Winnebago Industries, Inc.		51		3,401
Dave & Buster's Entertainment, Inc.*		75		3,342
PriceSmart, Inc.		45		3,333
XPEL, Inc.*		39		3,285
National Vision Holdings, Inc.*		135		3,279
Spirit Airlines, Inc.		190		3,260
Six Flags Entertainment Corp.*		125		3,247
Luminar Technologies, Inc.*,1		472		3,247
Gentherm, Inc.*		57		3,221
Abercrombie & Fitch Co. — Class A*		85		3,203
Cinemark Holdings, Inc.*		190		3,135
Patrick Industries, Inc.		37		2,960
Acushnet Holdings Corp.		54		2,953
Cheesecake Factory, Inc.		84		2,905

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Leslie's, Inc.*		308	$	2,892
Veritiv Corp.		23		2,889
Nu Skin Enterprises, Inc. — Class A		86		2,855
OPENLANE, Inc.*		187		2,846
Brinker International, Inc.*		76		2,782
Hanesbrands, Inc.		610		2,769
ODP Corp.*		59		2,762
Vista Outdoor, Inc.*		98		2,712
Green Brick Partners, Inc.*		46		2,613
Liberty Media Corporation-Liberty Braves — Class C*		65		2,575
H&E Equipment Services, Inc.		56		2,562
Oxford Industries, Inc.		26		2,559
Madison Square Garden Entertainment Corp.*		75		2,521
Sally Beauty Holdings, Inc.*		186		2,297
HNI Corp.		80		2,254
indie Semiconductor, Inc. — Class A*		239		2,247
Camping World Holdings, Inc. — Class A		72		2,167
La-Z-Boy, Inc.		75		2,148
Sweetgreen, Inc. — Class A*		167		2,141
iRobot Corp.*		47		2,127
Everi Holdings, Inc.*		146		2,111
Wabash National Corp.		82		2,102
Malibu Boats, Inc. — Class A*		35		2,053
Methode Electronics, Inc.		61		2,045
Wolverine World Wide, Inc.		135		1,983
Dillard's, Inc. — Class A		6		1,958
MillerKnoll, Inc.		132		1,951
Fisker, Inc.*,1		340		1,918
Buckle, Inc.		53		1,834
Warby Parker, Inc. — Class A*		147		1,718
Virgin Galactic Holdings, Inc.*,1		437		1,695
Lions Gate Entertainment Corp. — Class B*		200		1,670
Portillo's, Inc. — Class A*		74		1,667
Winmark Corp.		5		1,662
American Axle & Manufacturing Holdings, Inc.*		198		1,637
Monarch Casino & Resort, Inc.		23		1,620
Dine Brands Global, Inc.		27		1,567
Aurora Innovation, Inc.*		527		1,549
OneSpaWorld Holdings Ltd.*		126		1,525
Life Time Group Holdings, Inc.*		77		1,514
Golden Entertainment, Inc.*		35		1,463
Sun Country Airlines Holdings, Inc.*		65		1,461
MRC Global, Inc.*		145		1,460
Clean Energy Fuels Corp.*		294		1,458
Beazer Homes USA, Inc.*		51		1,443
Caleres, Inc.		60		1,436
Nikola Corp.*,1		1,028		1,419
G-III Apparel Group Ltd.*		73		1,407
BlueLinx Holdings, Inc.*		15		1,407
Standard Motor Products, Inc.		37		1,388
Sovos Brands, Inc.*		69		1,350
IMAX Corp.*		78		1,325
Shyft Group, Inc.		60		1,324
ScanSource, Inc.*		44		1,301
Sonic Automotive, Inc. — Class A		27		1,287
Chuy's Holdings, Inc.*		31		1,265
MarineMax, Inc.*		37		1,264
BJ's Restaurants, Inc.*		39		1,240
A-Mark Precious Metals, Inc.		33		1,235
Sphere Entertainment Co.*		45		1,233
Steelcase, Inc. — Class A		153		1,180
Denny's Corp.*		95		1,170
Douglas Dynamics, Inc.		39		1,165
RCI Hospitality Holdings, Inc.		15		1,140
Arko Corp.		143		1,137
Ethan Allen Interiors, Inc.		40		1,131
Chico's FAS, Inc.*		211		1,129
Franchise Group, Inc.		39		1,117
Titan Machinery, Inc.*		36		1,062
Titan International, Inc.*		91		1,045
Dream Finders Homes, Inc. — Class A*		42		1,033
Sleep Number Corp.*		37		1,009
America's Car-Mart, Inc.*		10		998
VSE Corp.		18		984
Accel Entertainment, Inc.*		93		982
Guess?, Inc.		50		973
Xperi, Inc.*		73		960
Hawaiian Holdings, Inc.*		88		948
Kura Sushi USA, Inc. — Class A*		10		930
MasterCraft Boat Holdings, Inc.*		30		919
PC Connection, Inc.		20		902
Lions Gate Entertainment Corp. — Class A*		101		892
Vizio Holding Corp. — Class A*		131		884
Interface, Inc. — Class A		99		870
Designer Brands, Inc. — Class A		85		859
Hibbett, Inc.		22		798
Hovnanian Enterprises, Inc. — Class A*		8		794
Bally's Corp.*		51		794
Haverty Furniture Companies, Inc.		25		756
Rush Enterprises, Inc. — Class B		11		749
Xponential Fitness, Inc. — Class A*		43		742
Hudson Technologies, Inc.*		76		731
REV Group, Inc.		55		729
OneWater Marine, Inc. — Class A*		20		725
Movado Group, Inc.		27		724
Forestar Group, Inc.*		32		722
Liberty Media Corporation-Liberty Braves — Class A*		17		696
Super Group SGHC Ltd.*		236		684
Shoe Carnival, Inc.		29		681
Solid Power, Inc.*		268		681
Bluegreen Vacations Holding Corp.		19		677
Blue Bird Corp.*		30		674
Miller Industries, Inc.		19		674
Lindblad Expeditions Holdings, Inc.*		61		664
Funko, Inc. — Class A*		60		649
Lovesac Co.*		24		647
Global Industrial Co.		23		639
Frontier Group Holdings, Inc.*		66		638
Marcus Corp.		42		623
Commercial Vehicle Group, Inc.*		56		622

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Bowlero Corp.*		51	$	594
Johnson Outdoors, Inc. — Class A		9		553
SES AI Corp.*		216		527
Genesco, Inc.*		21		526
PetMed Express, Inc.		36		496
EVgo, Inc.*,1		124		496
Destination XL Group, Inc.*		101		495
Build-A-Bear Workshop, Inc. — Class A		23		493
Children's Place, Inc.*		21		487
TuSimple Holdings, Inc. — Class A*		286		475
Zumiez, Inc.*		28		467
Clarus Corp.		51		466
Proterra, Inc.*		383		460
First Watch Restaurant Group, Inc.*		26		439
El Pollo Loco Holdings, Inc.		50		439
Daktronics, Inc.*		68		435
Big Lots, Inc.		49		433
Hyliion Holdings Corp.*		256		428
Cooper-Standard Holdings, Inc.*		29		414
Global Business Travel Group I*		56		405
Potbelly Corp.*		45		395
Full House Resorts, Inc.*		57		382
Sportsman's Warehouse Holdings, Inc.*		66		376
Red Robin Gourmet Burgers, Inc.*		27		373
Snap One Holdings Corp.*		32		373
Holley, Inc.*		91		372
Hooker Furnishings Corp.		19		355
GrowGeneration Corp.*		102		347
Century Casinos, Inc.*		48		341
Rush Street Interactive, Inc.*		109		340
Big 5 Sporting Goods Corp.1		37		339
Carrols Restaurant Group, Inc.*		64		323
Purple Innovation, Inc.		111		309
ThredUp, Inc. — Class A*		124		302
VOXX International Corp. — Class A*		24		299
Microvast Holdings, Inc.*		182		291
Vera Bradley, Inc.*		45		288
ONE Group Hospitality, Inc.*		38		278
Tile Shop Holdings, Inc.*		50		277
Tilly's, Inc. — Class A*		39		273
Weyco Group, Inc.		10		267
JAKKS Pacific, Inc.*		13		260
Traeger, Inc.*		61		259
Lazydays Holdings, Inc.*		22		254
Marine Products Corp.		15		253
Rocky Brands, Inc.		12		252
Workhorse Group, Inc.*		287		250
Fiesta Restaurant Group, Inc.*		31		246
Cato Corp. — Class A		30		241
Noodles & Co.*		69		233
Escalade, Inc.		17		227
Livewire Group, Inc.*		19		224
Landsea Homes Corp.*		23		215
Fossil Group, Inc.*		82		211
Reservoir Media, Inc.*		34		205
EVI Industries, Inc.*		8		176
Aeva Technologies, Inc.*		138		172
J Jill, Inc.*		8		171
Loop Media, Inc.*		63		151
Duluth Holdings, Inc. — Class B*		23		144
United Homes Group, Inc.*		11		123
Envela Corp.*		13		96
CompX International, Inc.		3		65
Torrid Holdings, Inc.*		21		59
Dragonfly Energy Holdings Corp.*		26		38
Qurate Retail, Inc. — Class B*		2		17
Total Consumer, Cyclical				485,802
Technology - 7.0%
Super Micro Computer, Inc.*		86		20,331
SPS Commerce, Inc.*		64		12,292
Rambus, Inc.*		189		12,128
Axcelis Technologies, Inc.*		56		10,266
Onto Innovation, Inc.*		85		9,900
Power Integrations, Inc.		98		9,278
Maximus, Inc.		105		8,874
Silicon Laboratories, Inc.*		55		8,676
Workiva, Inc.*		85		8,641
Tenable Holdings, Inc.*		198		8,623
ExlService Holdings, Inc.*		56		8,459
Qualys, Inc.*		64		8,267
Insight Enterprises, Inc.*		50		7,317
Diodes, Inc.*		78		7,214
Box, Inc. — Class A*		244		7,169
Duolingo, Inc.*		50		7,147
Altair Engineering, Inc. — Class A*		93		7,053
MicroStrategy, Inc. — Class A*,1		19		6,506
MACOM Technology Solutions Holdings, Inc.*		94		6,160
Synaptics, Inc.*		68		5,806
Evolent Health, Inc. — Class A*		191		5,787
Kulicke & Soffa Industries, Inc.		96		5,707
Appfolio, Inc. — Class A*		33		5,681
CommVault Systems, Inc.*		77		5,592
Blackbaud, Inc.*		75		5,338
Blackline, Inc.*		98		5,274
Ambarella, Inc.*		63		5,271
Amkor Technology, Inc.		177		5,266
Envestnet, Inc.*		87		5,163
Varonis Systems, Inc.*		188		5,010
Freshworks, Inc. — Class A*		281		4,940
Verra Mobility Corp.*		242		4,772
Rapid7, Inc.*		104		4,709
Schrodinger Incorporated/United States*		94		4,692
FormFactor, Inc.*		134		4,585
DigitalOcean Holdings, Inc.*		110		4,415
Progress Software Corp.		75		4,358
ACI Worldwide, Inc.*		188		4,356
MaxLinear, Inc. — Class A*		129		4,071
Verint Systems, Inc.*		110		3,857
Sprout Social, Inc. — Class A*		83		3,831
ACV Auctions, Inc. — Class A*		220		3,799
IonQ, Inc.*		278		3,761
C3.ai, Inc. — Class A*,1		102		3,716
NetScout Systems, Inc.*		118		3,652
Impinj, Inc.*		40		3,586
SiTime Corp.*		30		3,539
Parsons Corp.*		71		3,418
Appian Corp. — Class A*		71		3,380

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Cohu, Inc.*		81	$	3,366
Clear Secure, Inc. — Class A		144		3,336
PagerDuty, Inc.*		148		3,327
Fastly, Inc. — Class A*		205		3,233
Privia Health Group, Inc.*		117		3,055
Asana, Inc. — Class A*		138		3,042
Xerox Holdings Corp.		199		2,963
Ultra Clean Holdings, Inc.*		77		2,961
CSG Systems International, Inc.		54		2,848
Semtech Corp.*		111		2,826
Photronics, Inc.*		106		2,734
Phreesia, Inc.*		88		2,729
AvidXchange Holdings, Inc.*		259		2,688
Braze, Inc. — Class A*		60		2,627
SMART Global Holdings, Inc.*		84		2,437
Digi International, Inc.*		61		2,403
Agilysys, Inc.*		35		2,402
PDF Solutions, Inc.*		53		2,390
PROS Holdings, Inc.*		77		2,372
Jamf Holding Corp.*		121		2,362
Veradigm, Inc.*		187		2,356
Zuora, Inc. — Class A*		214		2,348
Apollo Medical Holdings, Inc.*		74		2,338
Model N, Inc.*		65		2,298
Veeco Instruments, Inc.*		88		2,260
3D Systems Corp.*		221		2,195
Yext, Inc.*		185		2,092
Cerence, Inc.*		70		2,046
Adeia, Inc.		185		2,037
Zeta Global Holdings Corp. — Class A*		232		1,981
Donnelley Financial Solutions, Inc.*		43		1,958
E2open Parent Holdings, Inc.*		345		1,932
Everbridge, Inc.*		70		1,883
Outset Medical, Inc.*		86		1,881
Navitas Semiconductor Corp.*		177		1,866
PowerSchool Holdings, Inc. — Class A*		97		1,857
Aehr Test Systems*,1		45		1,856
N-able, Inc.*		121		1,744
ForgeRock, Inc. — Class A*		82		1,684
EngageSmart, Inc.*		84		1,604
AvePoint, Inc.*		266		1,532
NextGen Healthcare, Inc.*		94		1,525
Digital Turbine, Inc.*		164		1,522
PAR Technology Corp.*		46		1,515
Avid Technology, Inc.*		59		1,504
Sapiens International Corporation N.V.		53		1,410
PubMatic, Inc. — Class A*		75		1,371
Matterport, Inc.*		434		1,367
Alpha & Omega Semiconductor Ltd.*		40		1,312
Amplitude, Inc. — Class A*		117		1,287
Health Catalyst, Inc.*		97		1,213
Thoughtworks Holding, Inc.*		160		1,208
Simulations Plus, Inc.		27		1,170
Integral Ad Science Holding Corp.*		65		1,169
Ebix, Inc.		46		1,159
Olo, Inc. — Class A*		179		1,156
BigCommerce Holdings, Inc.*		116		1,154
TTEC Holdings, Inc.		34		1,151
Corsair Gaming, Inc.*		64		1,135
Intapp, Inc.*		27		1,132
Alkami Technology, Inc.*		68		1,115
SoundHound AI, Inc. — Class A*		242		1,101
Vimeo, Inc.*		264		1,088
ACM Research, Inc. — Class A*		83		1,086
Pitney Bowes, Inc.		304		1,076
Planet Labs PBC*		330		1,063
Consensus Cloud Solutions, Inc.*		34		1,054
OneSpan, Inc.*		69		1,024
CEVA, Inc.*		40		1,022
Conduent, Inc.*		298		1,013
Cricut, Inc. — Class A		83		1,013
MeridianLink, Inc.*		45		936
Sharecare, Inc.*		534		935
SolarWinds Corp.*		88		903
Grid Dynamics Holdings, Inc.*		96		888
Desktop Metal, Inc. — Class A*		486		860
Definitive Healthcare Corp.*		78		858
Instructure Holdings, Inc.*		34		855
Alignment Healthcare, Inc.*		147		845
8x8, Inc.*		196		829
Mitek Systems, Inc.*		74		802
Cantaloupe, Inc.*		99		788
Vishay Precision Group, Inc.*		21		780
Domo, Inc. — Class B*		53		777
Expensify, Inc. — Class A*		96		766
Digimarc Corp.*		25		736
Playstudios, Inc.*		148		727
Weave Communications, Inc.*		57		633
Computer Programs and Systems, Inc.*		25		617
Daily Journal Corp.*		2		579
American Software, Inc. — Class A		55		578
Bandwidth, Inc. — Class A*		41		561
Inspired Entertainment, Inc.*		38		559
Vuzix Corp.*		102		520
SEMrush Holdings, Inc. — Class A*		54		517
inTEST Corp.*		19		499
Innodata, Inc.*		44		499
LivePerson, Inc.*		110		497
Enfusion, Inc. — Class A*		44		494
EverCommerce, Inc.*		40		474
ON24, Inc.		57		463
Unisys Corp.*		115		458
IBEX Holdings Ltd.*		19		403
Rimini Street, Inc.*		84		402
Asure Software, Inc.*		33		401
Red Violet, Inc.*		19		391
Immersion Corp.		54		382
Rackspace Technology, Inc.*		136		370
Cardlytics, Inc.*		58		367
PlayAGS, Inc.*		64		362
Outbrain, Inc.*		71		349
Richardson Electronics Ltd.		21		347
Climb Global Solutions, Inc.		7		335
Velo3D, Inc.*		154		333
CoreCard Corp.*		13		330
Atomera, Inc.*		37		324
CS Disco, Inc.*		39		321
Kaltura, Inc.*		144		305

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Brightcove, Inc.*		75	$	301
HireRight Holdings Corp.*		26		294
SkyWater Technology, Inc.*		30		283
eGain Corp.*		37		277
NextNav, Inc.*		94		276
Tingo Group, Inc.*		211		255
System1, Inc.*		43		193
Veritone, Inc.*		45		176
Skillsoft Corp.*		139		172
Viant Technology, Inc. — Class A*		25		115
BigBear.ai Holdings, Inc.*		46		108
LiveVox Holdings, Inc.*		39		107
CXApp, Inc.*		3		33
Presto Automation, Inc.*		6		31
Total Technology				475,173
Energy - 4.2%
Chord Energy Corp.		72		11,074
ChampionX Corp.		345		10,709
Matador Resources Co.		196		10,255
Murphy Oil Corp.		257		9,843
Civitas Resources, Inc.		120		8,324
PBF Energy, Inc. — Class A		202		8,270
Weatherford International plc*		123		8,170
Noble Corporation plc*		186		7,684
Shoals Technologies Group, Inc. — Class A*		297		7,591
Denbury, Inc.*		87		7,505
Equitrans Midstream Corp.		757		7,237
Valaris Ltd.*		106		6,671
Magnolia Oil & Gas Corp. — Class A		318		6,646
SM Energy Co.		208		6,579
Helmerich & Payne, Inc.		174		6,168
Array Technologies, Inc.*		262		5,921
California Resources Corp.		124		5,616
CNX Resources Corp.*		283		5,015
Permian Resources Corp.		440		4,822
Kosmos Energy Ltd.*		791		4,738
Peabody Energy Corp.		216		4,679
Tidewater, Inc.*		82		4,546
Northern Oil and Gas, Inc.		130		4,462
Patterson-UTI Energy, Inc.		359		4,297
CONSOL Energy, Inc.		59		4,001
Liberty Energy, Inc. — Class A		296		3,958
Callon Petroleum Co.*		106		3,717
Sitio Royalties Corp. — Class A		140		3,678
Seadrill Ltd.*		88		3,632
Alpha Metallurgical Resources, Inc.		22		3,616
Arch Resources, Inc.		32		3,608
Warrior Met Coal, Inc.		90		3,505
Green Plains, Inc.*		101		3,256
Oceaneering International, Inc.*		174		3,254
Sunnova Energy International, Inc.*		175		3,204
NexTier Oilfield Solutions, Inc.*		337		3,013
Borr Drilling Ltd.*		396		2,982
Delek US Holdings, Inc.		115		2,754
Expro Group Holdings N.V.*		153		2,711
Talos Energy, Inc.*		194		2,691
Par Pacific Holdings, Inc.*		96		2,555
Diamond Offshore Drilling, Inc.*		176		2,506
Archrock, Inc.		241		2,470
NOW, Inc.*		190		1,968
Core Laboratories, Inc.		81		1,883
Comstock Resources, Inc.		159		1,844
Helix Energy Solutions Group, Inc.*		249		1,838
Fluence Energy, Inc.*		68		1,812
Gulfport Energy Corp.*		17		1,786
US Silica Holdings, Inc.*		131		1,589
FuelCell Energy, Inc.*,1		709		1,531
CVR Energy, Inc.		51		1,528
Nabors Industries Ltd.*		16		1,488
SunPower Corp. — Class A*		151		1,480
Earthstone Energy, Inc. — Class A*		99		1,415
Stem, Inc.*		247		1,413
ProPetro Holding Corp.*		171		1,409
Dril-Quip, Inc.*		59		1,373
Vital Energy, Inc.*		29		1,309
Tellurian, Inc.*		923		1,301
Maxeon Solar Technologies Ltd.*		44		1,239
Select Water Solutions, Inc. — Class A		147		1,191
Bristow Group, Inc.*		41		1,178
SunCoke Energy, Inc.		145		1,141
Kinetik Holdings, Inc. — Class A		30		1,054
RPC, Inc.		147		1,051
Vitesse Energy, Inc.		43		963
REX American Resources Corp.*		27		940
Berry Corp.		132		908
SilverBow Resources, Inc.*		31		903
Montauk Renewables, Inc.*		115		856
SandRidge Energy, Inc.		55		839
Oil States International, Inc.*		109		814
Eos Energy Enterprises, Inc.*		186		807
TPI Composites, Inc.*		73		757
TETRA Technologies, Inc.*		217		733
Vertex Energy, Inc.*		117		731
VAALCO Energy, Inc.		187		703
Crescent Energy Co. — Class A		66		688
Newpark Resources, Inc.*		131		685
W&T Offshore, Inc.*		170		658
Excelerate Energy, Inc. — Class A		31		630
Gevo, Inc.*		405		616
DMC Global, Inc.*		34		604
Enviva, Inc.		54		586
Cleanspark, Inc.*		132		566
Aris Water Solutions, Inc. — Class A		52		537
Riley Exploration Permian, Inc.		15		536
Eneti, Inc.		43		521
Atlas Energy Solutions, Inc. — Class A		28		486
ProFrac Holding Corp. — Class A*		42		469
Solaris Oilfield Infrastructure, Inc. — Class A		56		466
Energy Vault Holdings, Inc.*		170		464
Evolution Petroleum Corp.		55		444
NextDecade Corp.*		53		435
Forum Energy Technologies, Inc.*		17		435
Amplify Energy Corp.*		63		426

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
FutureFuel Corp.		45	$	398
Ring Energy, Inc.*		208		356
Hallador Energy Co.*		40		343
Ramaco Resources, Inc. — Class A		39		329
Granite Ridge Resources, Inc.		45		298
Ranger Energy Services, Inc.*		27		277
NACCO Industries, Inc. — Class A		7		243
KLX Energy Services Holdings, Inc.*		22		214
HighPeak Energy, Inc.		18		196
Mammoth Energy Services, Inc.*		40		193
Empire Petroleum Corp.*		18		164
Ramaco Resources, Inc. — Class B*		9		93
Verde Clean Fuels, Inc.*		7		46
Total Energy				285,110
Communications - 2.3%
TEGNA, Inc.		388		6,301
Ziff Davis, Inc.*		82		5,745
Extreme Networks, Inc.*		219		5,705
Calix, Inc.*		102		5,091
Cogent Communications Holdings, Inc.		75		5,047
Perficient, Inc.*		59		4,916
InterDigital, Inc.		47		4,538
Viavi Solutions, Inc.*		387		4,385
Yelp, Inc. — Class A*		117		4,260
DigitalBridge Group, Inc.		280		4,119
Lumen Technologies, Inc.		1,746		3,946
Cargurus, Inc.*		169		3,824
Opendoor Technologies, Inc.*		945		3,799
Magnite, Inc.*		232		3,167
Harmonic, Inc.*		191		3,088
Q2 Holdings, Inc.*		99		3,059
Bumble, Inc. — Class A*		175		2,936
Credo Technology Group Holding Ltd.*		169		2,930
ePlus, Inc.*		46		2,590
Overstock.com, Inc.*		78		2,540
Squarespace, Inc. — Class A*		77		2,429
Cars.com, Inc.*		115		2,279
Liberty Latin America Ltd. — Class C*		249		2,146
Shutterstock, Inc.		43		2,093
Sprinklr, Inc. — Class A*		151		2,088
CommScope Holding Company, Inc.*		359		2,021
Upwork, Inc.*		214		1,999
Hims & Hers Health, Inc.*		212		1,993
Gogo, Inc.*		115		1,956
Scholastic Corp.		50		1,945
Figs, Inc. — Class A*		221		1,828
Open Lending Corp. — Class A*		172		1,808
A10 Networks, Inc.		122		1,780
Infinera Corp.*		345		1,666
Shenandoah Telecommunications Co.		84		1,632
ADTRAN Holdings, Inc.		135		1,422
Telephone & Data Systems, Inc.		171		1,407
TechTarget, Inc.*		45		1,401
Stagwell, Inc.*		187		1,348
Thryv Holdings, Inc.*		54		1,328
Globalstar, Inc.*		1,195		1,291
Eventbrite, Inc. — Class A*		134		1,280
Revolve Group, Inc.*		71		1,164
Gray Television, Inc.		143		1,127
Clearfield, Inc.*		23		1,089
HealthStream, Inc.		42		1,032
Anterix, Inc.*		32		1,014
EchoStar Corp. — Class A*		58		1,006
EW Scripps Co. — Class A*		103		943
Couchbase, Inc.*		59		933
Clear Channel Outdoor Holdings, Inc.*		642		879
Sinclair, Inc.		61		843
Nextdoor Holdings, Inc.*		252		822
QuinStreet, Inc.*		90		795
Rover Group, Inc.*		161		791
Boston Omaha Corp. — Class A*		40		753
WideOpenWest, Inc.*		89		751
fuboTV, Inc.*		352		732
Mondee Holdings, Inc.*,1		79		704
IDT Corp. — Class B*		27		698
ATN International, Inc.		19		695
NETGEAR, Inc.*		49		694
Liquidity Services, Inc.*		41		676
iHeartMedia, Inc. — Class A*		178		648
AMC Networks, Inc. — Class A*		54		645
Aviat Networks, Inc.*		19		634
Preformed Line Products Co.		4		624
Ooma, Inc.*		41		614
Quotient Technology, Inc.*		157		603
Gannett Company, Inc.*		250		563
Stitch Fix, Inc. — Class A*		146		562
Liberty Latin America Ltd. — Class A*		63		551
Luna Innovations, Inc.*		56		511
Consolidated Communications Holdings, Inc.*		129		494
AST SpaceMobile, Inc.*		105		494
Tucows, Inc. — Class A*		17		472
MediaAlpha, Inc. — Class A*		45		464
Entravision Communications Corp. — Class A		104		457
BlackSky Technology, Inc.*,1		205		455
Nerdy, Inc.*		103		429
Ribbon Communications, Inc.*		152		424
OptimizeRx Corp.*		29		414
Spok Holdings, Inc.		31		412
Blade Air Mobility, Inc.*		101		398
Grindr, Inc.*		71		393
CarParts.com, Inc.*		92		391
Advantage Solutions, Inc.*		150		351
1-800-Flowers.com, Inc. — Class A*		45		351
Vivid Seats, Inc. — Class A*		44		348
Cambium Networks Corp.*		21		320
KVH Industries, Inc.*		32		292
DHI Group, Inc.*		75		287
BARK, Inc.*		190		253
ContextLogic, Inc. — Class A*		38		250
EverQuote, Inc. — Class A*		37		240
Townsquare Media, Inc. — Class A		20		238
Terran Orbital Corp.*		148		222

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Solo Brands, Inc. — Class A*		38	$	215
Allbirds, Inc. — Class A*		165		208
Lands' End, Inc.*		26		202
Gambling.com Group Ltd.*		18		184
DZS, Inc.*		38		151
Urban One, Inc.*		22		132
Urban One, Inc.*		14		84
Total Communications				155,247
Basic Materials - 2.2%
Commercial Metals Co.		203		10,690
ATI, Inc.*		223		9,863
Livent Corp.*		313		8,586
Balchem Corp.		55		7,415
HB Fuller Co.		94		6,722
Cabot Corp.		96		6,421
Avient Corp.		157		6,421
Hecla Mining Co.		1,040		5,356
Sensient Technologies Corp.		73		5,192
Arconic Corp.*		171		5,058
Rogers Corp.*		30		4,858
Quaker Chemical Corp.		24		4,678
Carpenter Technology Corp.		83		4,659
Innospec, Inc.		43		4,319
Ingevity Corp.*		65		3,780
Constellium SE*		219		3,767
Stepan Co.		37		3,536
Minerals Technologies, Inc.		56		3,231
Tronox Holdings plc — Class A		203		2,580
Sylvamo Corp.		63		2,548
Uranium Energy Corp.*		637		2,166
Orion S.A.		97		2,058
Compass Minerals International, Inc.		59		2,006
Kaiser Aluminum Corp.		28		2,006
Ecovyst, Inc.*		165		1,891
Piedmont Lithium, Inc.*		31		1,789
Energy Fuels, Inc.*		272		1,697
Novagold Resources, Inc.*		419		1,672
Perimeter Solutions S.A.*		271		1,667
Hawkins, Inc.		34		1,621
AdvanSix, Inc.		46		1,609
Coeur Mining, Inc.*		553		1,570
Mativ Holdings, Inc.		94		1,421
Lightwave Logic, Inc.*		199		1,387
Schnitzer Steel Industries, Inc. — Class A		45		1,350
Ivanhoe Electric Incorporated / US*		97		1,265
Koppers Holdings, Inc.		35		1,194
Diversey Holdings Ltd.*,1		136		1,141
Haynes International, Inc.		22		1,118
American Vanguard Corp.		47		840
United States Lime & Minerals, Inc.		4		836
Century Aluminum Co.*		91		793
Origin Materials, Inc.*		184		784
Trinseo plc		61		773
i-80 Gold Corp.*		334		751
Centrus Energy Corp. — Class A*		21		684
Encore Energy Corp.*		245		590
Oil-Dri Corporation of America		8		472
Rayonier Advanced Materials, Inc.*		110		471
Intrepid Potash, Inc.*		18		408
Amyris, Inc.*		380		391
Danimer Scientific, Inc.*		152		362
Kronos Worldwide, Inc.		38		332
Caledonia Mining Corporation plc		28		325
Codexis, Inc.*		115		322
Dakota Gold Corp.*		93		272
Perpetua Resources Corp.*		65		239
Glatfelter Corp.*		77		233
5E Advanced Materials, Inc.*		68		223
Contango ORE, Inc.*		6		153
Terawulf, Inc.*		87		152
Valhi, Inc.		4		51
PolyMet Mining Corp.*		59		47
NioCorp Developments Ltd.*		3		15
Total Basic Materials				150,827
Utilities - 1.8%
New Jersey Resources Corp.		168		7,930
Portland General Electric Co.		168		7,868
Brookfield Infrastructure Corp. — Class A		171		7,794
Ormat Technologies, Inc.		93		7,483
ONE Gas, Inc.		96		7,374
Black Hills Corp.		115		6,930
Southwest Gas Holdings, Inc.		107		6,811
PNM Resources, Inc.		149		6,720
NorthWestern Corp.		104		5,903
ALLETE, Inc.		100		5,797
Otter Tail Corp.		72		5,685
Spire, Inc.		89		5,646
American States Water Co.		64		5,568
Avista Corp.		131		5,144
California Water Service Group		97		5,008
MGE Energy, Inc.		63		4,984
SJW Group		54		3,786
Chesapeake Utilities Corp.		30		3,570
Ameresco, Inc. — Class A*		56		2,723
Northwest Natural Holding Co.		62		2,669
Middlesex Water Co.		30		2,420
Unitil Corp.		28		1,420
York Water Co.		25		1,032
Artesian Resources Corp. — Class A		15		708
Consolidated Water Company Ltd.		26		630
Altus Power, Inc.*		111		599
Genie Energy Ltd. — Class B		34		481
FTC Solar, Inc.*		110		354
RGC Resources, Inc.		14		280
Global Water Resources, Inc.		20		253
Total Utilities				123,570
Government - 0.0%
Banco Latinoamericano de Comercio Exterior S.A. — Class E		48		1,059
Total Common Stocks
(Cost $4,381,183)				4,148,296
RIGHTS††† - 0.0%
Consumer, Non-cyclical - 0.0%
Tobira Therapeutics, Inc.*		14		–
Total Rights
(Cost $–)				–

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
MUTUAL FUNDS† - 20.2%
Guggenheim Ultra Short Duration Fund — Institutional Class2		76,553	$	744,862
Guggenheim Strategy Fund II2		25,618		620,462
Total Mutual Funds
(Cost $1,387,675)				1,365,324
		Face Amount
U.S. TREASURY BILLS†† - 3.8%
U.S. Treasury Bills
5.00% due 08/03/233	$	150,000		149,340
5.11% due 07/18/233,4		107,000		106,776
Total U.S. Treasury Bills
(Cost $256,050)				256,116
REPURCHASE AGREEMENTS††,5 - 12.6%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/236		463,459		463,459
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/236		203,899		203,899
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/236		185,362		185,362
Total Repurchase Agreements
(Cost $852,720)				852,720
		Shares
SECURITIES LENDING COLLATERAL†,7 - 0.5%
Money Market Fund
First American Government Obligations Fund — Class X, 5.01%8		37,109		37,109
Total Securities Lending Collateral
(Cost $37,109)				37,109
Total Investments - 98.3%
(Cost $6,914,737)			$	6,659,565
Other Assets & Liabilities, net - 1.7%				118,564
Total Net Assets - 100.0%			$	6,778,129

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
Russell 2000 Index Mini Futures Contracts		1	Sep 2023	$	95,155	$	820

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements††
Barclays Bank plc	Russell 2000 Index	Pay	5.06% (SOFR)	At Maturity	09/20/23		910	$	1,718,127	$	59,560
Goldman Sachs International	Russell 2000 Index	Pay	5.17% (Federal Funds Rate + 0.10%)	At Maturity	09/21/23		1,501		2,834,384		56,358
BNP Paribas	Russell 2000 Index	Pay	5.27% (Federal Funds Rate + 0.20%)	At Maturity	09/21/23		727		1,372,371		28,195
								$	5,924,882	$	144,113

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Affiliated issuer.
3	Rate indicated is the effective yield at the time of purchase.
4	All or a portion of this security is pledged as futures collateral at June 30, 2023.

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

5	Repurchase Agreements — See Note 4.
6	All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.
7	Securities lending collateral — See Note 5.
8	Rate indicated is the 7-day yield as of June 30, 2023.

plc — Public Limited Company

REIT — Real Estate Investment Trust

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs			Total
Common Stocks	$	4,148,296	$	—	*	$	—		$	4,148,296
Rights		—		—			—	*		—
Mutual Funds		1,365,324		—			—			1,365,324
U.S. Treasury Bills		—		256,116			—			256,116
Repurchase Agreements		—		852,720			—			852,720
Securities Lending Collateral		37,109		—			—			37,109
Equity Futures Contracts**		820		—			—			820
Equity Index Swap Agreements**		—		144,113			—			144,113
Total Assets	$	5,551,549	$	1,252,949		$	—		$	6,804,498

* Security has a market value of $0.

** This derivative is reported as unrealized appreciation/depreciation at period end.

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II and Guggenheim Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2022, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126822000340/gug84768.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended June 30, 2023, in which the company is an affiliated issuer, were as follows:  

Security Name	Value 03/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 06/30/23		Shares 06/30/23		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	620,207	$	–	$	–	$	–	$	255	$	620,462		25,618	$	8,430
Guggenheim Ultra Short Duration Fund — Institutional Class		743,330		–		–		–		1,532		744,862		76,553		9,941
	$	1,363,537	$	–	$	–	$	–	$	1,787	$	1,365,324			$	18,371

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 68.1%
Consumer, Non-cyclical - 16.6%
Intra-Cellular Therapies, Inc.*		693	$	43,881
elf Beauty, Inc.*		372		42,494
Lantheus Holdings, Inc.*		503		42,212
API Group Corp.*		1,548		42,198
Option Care Health, Inc.*		1,258		40,872
IVERIC bio, Inc.*		1,021		40,166
HealthEquity, Inc.*		622		39,273
Ensign Group, Inc.		403		38,470
Alkermes plc*		1,227		38,405
BellRing Brands, Inc.*		992		36,307
Halozyme Therapeutics, Inc.*		987		35,601
Merit Medical Systems, Inc.*		421		35,212
Neogen Corp.*		1,612		35,061
Vaxcyte, Inc.*		680		33,959
ImmunoGen, Inc.*		1,794		33,853
Triton International Ltd.		404		33,637
AMN Healthcare Services, Inc.*		300		32,736
Insperity, Inc.		270		32,119
Haemonetics Corp.*		371		31,587
CONMED Corp.		227		30,847
Guardant Health, Inc.*		822		29,428
Lancaster Colony Corp.		145		29,158
Herc Holdings, Inc.		209		28,602
Blueprint Medicines Corp.*		450		28,440
Sprouts Farmers Market, Inc.*		766		28,135
StoneCo Ltd. — Class A*		2,153		27,429
Alight, Inc. — Class A*		2,945		27,212
Arrowhead Pharmaceuticals, Inc.*		758		27,030
ASGN, Inc.*		357		27,000
Intellia Therapeutics, Inc.*		652		26,589
TriNet Group, Inc.*		279		26,497
Amicus Therapeutics, Inc.*		2,073		26,037
Denali Therapeutics, Inc.*		873		25,762
TG Therapeutics, Inc.*		1,014		25,188
Hostess Brands, Inc.*		983		24,889
Pacific Biosciences of California, Inc.*		1,864		24,791
Glaukos Corp.*		347		24,710
Simply Good Foods Co.*		672		24,588
Select Medical Holdings Corp.		769		24,500
Omnicell, Inc.*		332		24,458
iRhythm Technologies, Inc.*		227		23,681
Madrigal Pharmaceuticals, Inc.*		101		23,331
Brink's Co.		341		23,130
Progyny, Inc.*		581		22,857
Cytokinetics, Inc.*		689		22,475
Surgery Partners, Inc.*		499		22,450
Inari Medical, Inc.*		383		22,268
Coca-Cola Consolidated, Inc.		35		22,261
Flywire Corp.*		711		22,069
Prestige Consumer Healthcare, Inc.*		368		21,870
Integer Holdings Corp.*		246		21,798
Patterson Companies, Inc.		651		21,652
Reata Pharmaceuticals, Inc. — Class A*		211		21,514
ACADIA Pharmaceuticals, Inc.*		896		21,459
Inmode Ltd.*		573		21,402
PTC Therapeutics, Inc.*		524		21,311
ABM Industries, Inc.		490		20,898
Prothena Corporation plc*		306		20,894
LivaNova plc*		401		20,623
Insmed, Inc.*		975		20,572
REVOLUTION Medicines, Inc.*		750		20,062
TransMedics Group, Inc.*		235		19,735
Helen of Troy Ltd.*		178		19,228
TreeHouse Foods, Inc.*		381		19,195
Korn Ferry		386		19,122
CBIZ, Inc.*		355		18,914
STAAR Surgical Co.*		359		18,873
WD-40 Co.		100		18,865
Krystal Biotech, Inc.*		160		18,784
Inter Parfums, Inc.		136		18,391
Sage Therapeutics, Inc.*		391		18,385
Axonics, Inc.*		363		18,321
Alarm.com Holdings, Inc.*		354		18,295
EVERTEC, Inc.		483		17,789
Marqeta, Inc. — Class A*		3,625		17,654
J & J Snack Foods Corp.		111		17,578
Axsome Therapeutics, Inc.*		243		17,462
ICF International, Inc.		139		17,290
Marathon Digital Holdings, Inc.*		1,245		17,256
AtriCure, Inc.*		344		16,980
Chinook Therapeutics, Inc.*		429		16,482
NuVasive, Inc.*		390		16,220
Amphastar Pharmaceuticals, Inc.*		281		16,149
Beam Therapeutics, Inc.*		505		16,125
Edgewell Personal Care Co.		379		15,656
Revance Therapeutics, Inc.*		617		15,616
Akero Therapeutics, Inc.*		332		15,501
Graham Holdings Co. — Class B		27		15,430
Vir Biotechnology, Inc.*		619		15,184
NeoGenomics, Inc.*		942		15,138
Bridgebio Pharma, Inc.*		847		14,568
Cerevel Therapeutics Holdings, Inc.*		457		14,528
Primo Water Corp.		1,158		14,521
Riot Platforms, Inc.*		1,183		13,983
Myriad Genetics, Inc.*		597		13,838
Vector Group Ltd.		1,075		13,771
Veracyte, Inc.*		538		13,703
Pacira BioSciences, Inc.*		337		13,504
LiveRamp Holdings, Inc.*		472		13,480
DICE Therapeutics, Inc.*		286		13,288
Vericel Corp.*		352		13,225
Corcept Therapeutics, Inc.*		593		13,194
Morphic Holding, Inc.*		225		12,899
Upbound Group, Inc.		408		12,701
Cal-Maine Foods, Inc.		282		12,690
Textainer Group Holdings Ltd.		319		12,562
Coursera, Inc.*		963		12,538
MGP Ingredients, Inc.		117		12,435
CorVel Corp.*		64		12,384
Dynavax Technologies Corp.*		958		12,377
Huron Consulting Group, Inc.*		141		11,972
RadNet, Inc.*		365		11,906
Geron Corp.*		3,682		11,819
Remitly Global, Inc.*		624		11,744
Laureate Education, Inc. — Class A		969		11,715
Stride, Inc.*		314		11,690
US Physical Therapy, Inc.		96		11,653

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Agios Pharmaceuticals, Inc.*		411	$	11,640
Celldex Therapeutics, Inc.*		343		11,638
Adtalem Global Education, Inc.*		336		11,538
Viking Therapeutics, Inc.*		711		11,525
Ventyx Biosciences, Inc.*		346		11,349
Strategic Education, Inc.		167		11,329
SpringWorks Therapeutics, Inc.*		431		11,301
Protagonist Therapeutics, Inc.*		401		11,076
PROG Holdings, Inc.*		343		11,017
Andersons, Inc.		238		10,984
Supernus Pharmaceuticals, Inc.*		363		10,912
Ironwood Pharmaceuticals, Inc. — Class A*		1,025		10,906
Iovance Biotherapeutics, Inc.*		1,538		10,828
John Wiley & Sons, Inc. — Class A		316		10,753
Addus HomeCare Corp.*		116		10,753
Xencor, Inc.*		429		10,712
Central Garden & Pet Co. — Class A*		291		10,610
Owens & Minor, Inc.*		549		10,453
Biohaven Ltd.*		431		10,310
Alphatec Holdings, Inc.*		570		10,249
Zentalis Pharmaceuticals, Inc.*		363		10,240
Syndax Pharmaceuticals, Inc.*		487		10,193
UFP Technologies, Inc.*		52		10,080
BioCryst Pharmaceuticals, Inc.*		1,401		9,863
LeMaitre Vascular, Inc.		146		9,823
Aurinia Pharmaceuticals, Inc.*		1,001		9,690
Herbalife Ltd.*		731		9,678
Catalyst Pharmaceuticals, Inc.*		713		9,583
Krispy Kreme, Inc.		648		9,545
PROCEPT BioRobotics Corp.*		267		9,438
Payoneer Global, Inc.*		1,960		9,428
Ideaya Biosciences, Inc.*		401		9,423
Matthews International Corp. — Class A		220		9,376
Monro, Inc.		230		9,345
Legalzoom.com, Inc.*		770		9,302
Chefs' Warehouse, Inc.*		260		9,298
Silk Road Medical, Inc.*		284		9,227
Embecta Corp.		427		9,223
Oscar Health, Inc. — Class A*		1,144		9,221
ZipRecruiter, Inc. — Class A*		516		9,164
Arvinas, Inc.*		363		9,010
Kforce, Inc.		143		8,960
Universal Corp.		178		8,889
Arcellx, Inc.*		281		8,885
Ligand Pharmaceuticals, Inc. — Class B*		123		8,868
Pediatrix Medical Group, Inc.*		622		8,839
Avanos Medical, Inc.*		342		8,741
Utz Brands, Inc.		533		8,720
89bio, Inc.*		457		8,660
Twist Bioscience Corp.*		421		8,614
Ingles Markets, Inc. — Class A		104		8,596
Harmony Biosciences Holdings, Inc.*		244		8,586
United Natural Foods, Inc.*		438		8,563
Treace Medical Concepts, Inc.*		334		8,544
National Beverage Corp.*		175		8,461
Relay Therapeutics, Inc.*		667		8,378
Travere Therapeutics, Inc.*		539		8,279
Hain Celestial Group, Inc.*		661		8,269
Rocket Pharmaceuticals, Inc.*		415		8,246
Healthcare Services Group, Inc.		551		8,226
Amylyx Pharmaceuticals, Inc.*		375		8,089
Cymabay Therapeutics, Inc.*		725		7,939
Arcus Biosciences, Inc.*		390		7,921
CoreCivic, Inc.*		841		7,914
Cimpress plc*		132		7,851
Weis Markets, Inc.		122		7,834
Chegg, Inc.*		874		7,761
John B Sanfilippo & Son, Inc.		66		7,740
Sabre Corp.*		2,424		7,733
MannKind Corp.*		1,899		7,729
Cytek Biosciences, Inc.*		896		7,652
Pliant Therapeutics, Inc.*		418		7,574
Immunovant, Inc.*		399		7,569
Recursion Pharmaceuticals, Inc. — Class A*		1,009		7,537
Nuvalent, Inc. — Class A*		177		7,464
Viridian Therapeutics, Inc.*		312		7,422
B&G Foods, Inc.1		526		7,322
Medifast, Inc.		79		7,281
Cassava Sciences, Inc.*		294		7,209
LifeStance Health Group, Inc.*		785		7,167
Cross Country Healthcare, Inc.*		255		7,160
Dole plc		529		7,152
Crinetics Pharmaceuticals, Inc.*		394		7,100
Verve Therapeutics, Inc.*		375		7,031
Replimune Group, Inc.*		301		6,989
Arlo Technologies, Inc.*		639		6,971
SI-BONE, Inc.*		257		6,934
Udemy, Inc.*		634		6,803
Varex Imaging Corp.*		287		6,765
Nevro Corp.*		263		6,685
Keros Therapeutics, Inc.*		166		6,670
AdaptHealth Corp.*		544		6,621
Inhibrx, Inc.*		254		6,594
Accolade, Inc.*		488		6,573
Quanex Building Products Corp.		244		6,551
Fresh Del Monte Produce, Inc.		252		6,479
OPKO Health, Inc.*		2,982		6,471
Kymera Therapeutics, Inc.*		281		6,460
Green Dot Corp. — Class A*		344		6,447
Avid Bioservices, Inc.*		459		6,412
GEO Group, Inc.*		881		6,308
Rhythm Pharmaceuticals, Inc.*		380		6,266
First Advantage Corp.*		404		6,226
Perdoceo Education Corp.*		497		6,098
Point Biopharma Global, Inc.*		669		6,061
Cogent Biosciences, Inc.*		510		6,038
REGENXBIO, Inc.*		300		5,997
Multiplan Corp.*		2,800		5,908
Quanterix Corp.*		260		5,863
Innoviva, Inc.*		459		5,843
SpartanNash Co.		258		5,807
Avidity Biosciences, Inc.*		523		5,800
Paragon 28, Inc.*		325		5,765
RxSight, Inc.*		200		5,760
ADMA Biologics, Inc.*		1,557		5,745
National Healthcare Corp.		92		5,687
Beyond Meat, Inc.*,1		438		5,685
BioLife Solutions, Inc.*		257		5,680
SP Plus Corp.*		145		5,671
Vita Coco Company, Inc.*		211		5,670

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Atrion Corp.		10	$	5,657
Adaptive Biotechnologies Corp.*		840		5,636
Deluxe Corp.		322		5,629
Fulgent Genetics, Inc.*		151		5,592
MiMedx Group, Inc.*		842		5,566
Collegium Pharmaceutical, Inc.*		256		5,501
Deciphera Pharmaceuticals, Inc.*		387		5,449
DocGo, Inc.*		575		5,388
Ardelyx, Inc.*		1,575		5,339
Brookdale Senior Living, Inc. — Class A*		1,261		5,321
Aclaris Therapeutics, Inc.*		513		5,320
USANA Health Sciences, Inc.*		84		5,295
Nano-X Imaging Ltd.*		339		5,251
OrthoPediatrics Corp.*		117		5,130
Mirum Pharmaceuticals, Inc.*		198		5,122
ANI Pharmaceuticals, Inc.*		95		5,114
ProKidney Corp.*		456		5,103
CRA International, Inc.		50		5,100
Kura Oncology, Inc.*		482		5,100
Beauty Health Co.*		605		5,064
Artivion, Inc.*		291		5,002
Arcturus Therapeutics Holdings, Inc.*		172		4,933
Novavax, Inc.*,1		644		4,785
Theravance Biopharma, Inc.*		456		4,720
Repay Holdings Corp.*		601		4,706
Orthofix Medical, Inc.*		260		4,696
European Wax Center, Inc. — Class A*		252		4,695
Transcat, Inc.*		55		4,692
National Research Corp. — Class A		106		4,612
SunOpta, Inc.*		672		4,496
EQRx, Inc.*		2,359		4,388
Day One Biopharmaceuticals, Inc.*		364		4,346
Mission Produce, Inc.*		358		4,339
Kelly Services, Inc. — Class A		244		4,297
Tactile Systems Technology, Inc.*		172		4,288
Enhabit, Inc.*		372		4,278
Prime Medicine, Inc.*		292		4,278
Barrett Business Services, Inc.		49		4,273
ModivCare, Inc.*		94		4,250
Editas Medicine, Inc.*		515		4,238
Anavex Life Sciences Corp.*		519		4,219
Duckhorn Portfolio, Inc.*		325		4,215
V2X, Inc.*		85		4,213
4D Molecular Therapeutics, Inc.*		233		4,210
Hackett Group, Inc.		185		4,135
Sana Biotechnology, Inc.*		689		4,106
Community Health Systems, Inc.*		930		4,092
Lyell Immunopharma, Inc.*		1,283		4,080
RAPT Therapeutics, Inc.*		218		4,077
Viad Corp.*		151		4,059
Agenus, Inc.*		2,536		4,058
Vera Therapeutics, Inc.*		250		4,012
Marinus Pharmaceuticals, Inc.*		368		3,997
TrueBlue, Inc.*		225		3,985
Franklin Covey Co.*		90		3,931
Cass Information Systems, Inc.		101		3,917
Heidrick & Struggles International, Inc.		147		3,891
Ennis, Inc.		189		3,852
I3 Verticals, Inc. — Class A*		167		3,818
American Well Corp. — Class A*		1,813		3,807
Resources Connection, Inc.		240		3,770
2seventy bio, Inc.*		371		3,755
Calavo Growers, Inc.		128		3,714
Harrow Health, Inc.*		192		3,656
Arcutis Biotherapeutics, Inc.*		380		3,621
Agiliti, Inc.*		219		3,614
ACCO Brands Corp.		683		3,558
Pulmonx Corp.*		271		3,553
Dyne Therapeutics, Inc.*		314		3,532
Enliven Therapeutics, Inc.*		173		3,531
OmniAb, Inc.*		689		3,466
Nurix Therapeutics, Inc.*		346		3,457
Seres Therapeutics, Inc.*		719		3,444
Zymeworks, Inc.*		395		3,413
23andMe Holding Co. — Class A*		1,921		3,362
Aaron's Company, Inc.		234		3,309
CareDx, Inc.*		385		3,272
Kiniksa Pharmaceuticals Ltd. — Class A*		232		3,267
Cerus Corp.*		1,312		3,228
Biomea Fusion, Inc.*		147		3,227
Carriage Services, Inc. — Class A		99		3,215
Surmodics, Inc.*		102		3,194
Enanta Pharmaceuticals, Inc.*		148		3,167
Avita Medical, Inc.*		186		3,164
Tarsus Pharmaceuticals, Inc.*		174		3,144
Target Hospitality Corp.*		231		3,100
PetIQ, Inc.*		202		3,064
Turning Point Brands, Inc.		127		3,049
Allogene Therapeutics, Inc.*		608		3,022
Fate Therapeutics, Inc.*		627		2,984
Ocular Therapeutix, Inc.*		577		2,977
MaxCyte, Inc.*		646		2,965
AngioDynamics, Inc.*		279		2,910
Aldeyra Therapeutics, Inc.*		344		2,886
AnaptysBio, Inc.*		141		2,868
Custom Truck One Source, Inc.*		419		2,824
Alector, Inc.*		469		2,819
Anika Therapeutics, Inc.*		108		2,806
Amneal Pharmaceuticals, Inc.*		901		2,793
Central Garden & Pet Co.*		72		2,791
Terns Pharmaceuticals, Inc.*		317		2,774
OraSure Technologies, Inc.*		552		2,766
Liquidia Corp.*		351		2,755
Vanda Pharmaceuticals, Inc.*		418		2,755
Emergent BioSolutions, Inc.*		374		2,749
Axogen, Inc.*		301		2,748
Vital Farms, Inc.*		226		2,710
WW International, Inc.*		403		2,708
HilleVax, Inc.*		157		2,699
Voyager Therapeutics, Inc.*		235		2,691
Accuray, Inc.*		690		2,670
Tejon Ranch Co.*		155		2,668
Pennant Group, Inc.*		214		2,628
Phathom Pharmaceuticals, Inc.*		182		2,606
Bluebird Bio, Inc.*		791		2,602

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
SomaLogic, Inc.*		1,117	$	2,580
Xeris Biopharma Holdings, Inc.*		984		2,578
iRadimed Corp.		54		2,578
Forrester Research, Inc.*		87		2,531
Disc Medicine, Inc.*		57		2,531
Castle Biosciences, Inc.*		184		2,524
Aura Biosciences, Inc.*		203		2,507
Viemed Healthcare, Inc.*		252		2,465
Cano Health, Inc.*		1,766		2,455
Edgewise Therapeutics, Inc.*		316		2,449
Omeros Corp.*		450		2,448
Alta Equipment Group, Inc.		141		2,444
Mersana Therapeutics, Inc.*		742		2,441
Cabaletta Bio, Inc.*		189		2,440
Coherus Biosciences, Inc.*		569		2,430
iTeos Therapeutics, Inc.*		183		2,423
Paysafe Ltd.*		240		2,422
Alpine Immune Sciences, Inc.*		235		2,416
MacroGenics, Inc.*		450		2,407
Entrada Therapeutics, Inc.*		158		2,392
Butterfly Network, Inc.*		1,032		2,374
2U, Inc.*		586		2,362
Utah Medical Products, Inc.		25		2,330
Westrock Coffee Co.*		210		2,283
Taro Pharmaceutical Industries Ltd.*		60		2,276
ImmunityBio, Inc.*,1		815		2,266
ORIC Pharmaceuticals, Inc.*		289		2,243
Scilex Holding Co.*		402		2,237
Evolus, Inc.*		306		2,225
Assertio Holdings, Inc.*		408		2,211
BrightView Holdings, Inc.*		306		2,197
Invitae Corp.*		1,943		2,196
scPharmaceuticals, Inc.*		213		2,170
Stoke Therapeutics, Inc.*		204		2,169
Summit Therapeutics, Inc.*		857		2,151
Compass Therapeutics, Inc.*		675		2,146
Sterling Check Corp.*		175		2,145
Zimvie, Inc.*		191		2,145
Allakos, Inc.*		491		2,141
Arbutus Biopharma Corp.*		923		2,123
Atea Pharmaceuticals, Inc.*		567		2,121
Sutro Biopharma, Inc.*		445		2,069
Phibro Animal Health Corp. — Class A		151		2,069
SEACOR Marine Holdings, Inc.*		178		2,035
Icosavax, Inc.*		204		2,026
Limoneira Co.		129		2,007
Intercept Pharmaceuticals, Inc.*		181		2,002
Outlook Therapeutics, Inc.*		1,147		1,996
Inogen, Inc.*		172		1,987
Tenaya Therapeutics, Inc.*		338		1,984
Nuvation Bio, Inc.*		1,077		1,939
Cullinan Oncology, Inc.*		176		1,894
Cutera, Inc.*		123		1,861
Seer, Inc.*		433		1,849
Y-mAbs Therapeutics, Inc.*		272		1,847
Generation Bio Co.*		335		1,842
FibroGen, Inc.*		672		1,814
Savara, Inc.*		564		1,802
Caribou Biosciences, Inc.*		421		1,789
Olema Pharmaceuticals, Inc.*		198		1,788
PMV Pharmaceuticals, Inc.*		285		1,784
Distribution Solutions Group, Inc.*		34		1,770
X4 Pharmaceuticals, Inc.*		910		1,765
Mineralys Therapeutics, Inc.*		103		1,756
Tyra Biosciences, Inc.*		103		1,754
CareMax, Inc.*		556		1,729
Carisma Therapeutics, Inc.		197		1,728
Willdan Group, Inc.*		90		1,724
Organogenesis Holdings, Inc.*		519		1,723
SIGA Technologies, Inc.		341		1,722
EyePoint Pharmaceuticals, Inc.*		194		1,688
FiscalNote Holdings, Inc.*		460		1,674
Universal Technical Institute, Inc.*		242		1,672
Benson Hill, Inc.*		1,281		1,665
Kodiak Sciences, Inc.*		240		1,656
Nathan's Famous, Inc.		21		1,649
Erasca, Inc.*		597		1,648
KalVista Pharmaceuticals, Inc.*		182		1,638
Rigel Pharmaceuticals, Inc.*		1,265		1,632
MeiraGTx Holdings plc*		241		1,620
Quipt Home Medical Corp.*		298		1,591
WaVe Life Sciences Ltd.*		437		1,591
Harvard Bioscience, Inc.*		289		1,587
Scholar Rock Holding Corp.*		210		1,583
Astria Therapeutics, Inc.*		189		1,574
Lexicon Pharmaceuticals, Inc.*		685		1,569
Monte Rosa Therapeutics, Inc.*		225		1,541
Design Therapeutics, Inc.*		242		1,525
Immuneering Corp. — Class A*		150		1,521
Janux Therapeutics, Inc.*		128		1,519
UroGen Pharma Ltd.*		145		1,501
Karyopharm Therapeutics, Inc.*		837		1,498
Eagle Pharmaceuticals, Inc.*		76		1,477
Ovid therapeutics, Inc.*		441		1,446
Nautilus Biotechnology, Inc.*		373		1,443
SoundThinking, Inc.*		66		1,443
Village Super Market, Inc. — Class A		63		1,438
Actinium Pharmaceuticals, Inc.*		192		1,425
BRC, Inc. — Class A*		276		1,424
Joint Corp.*		105		1,418
NanoString Technologies, Inc.*		350		1,417
Zynex, Inc.*		146		1,400
Theseus Pharmaceuticals, Inc.*		150		1,399
HF Foods Group, Inc.*		298		1,398
Celcuity, Inc.*		127		1,394
Information Services Group, Inc.		260		1,394
Inozyme Pharma, Inc.*		250		1,392
Sangamo Therapeutics, Inc.*		1,066		1,386
Alico, Inc.		53		1,349
Lineage Cell Therapeutics, Inc.*,1		954		1,345
Performant Financial Corp.*		498		1,345
Nature's Sunshine Products, Inc.*		98		1,338
Quantum-Si, Inc.*		743		1,330
CorMedix, Inc.*		330		1,308
Zevra Therapeutics, Inc.*		256		1,306
Humacyte, Inc.*		453		1,296
Kezar Life Sciences, Inc.*		528		1,294
InfuSystem Holdings, Inc.*		134		1,290
Altimmune, Inc.*		365		1,288
Rallybio Corp.*		226		1,279

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Seneca Foods Corp. — Class A*		39	$	1,274
Aerovate Therapeutics, Inc.*		74		1,269
CVRx, Inc.*		82		1,266
Gritstone bio, Inc.*		649		1,266
ClearPoint Neuro, Inc.*		169		1,224
Cadiz, Inc.*		300		1,218
ALX Oncology Holdings, Inc.*		160		1,202
ARS Pharmaceuticals, Inc.*		179		1,199
Annexon, Inc.*		337		1,186
Tela Bio, Inc.*		117		1,185
Fennec Pharmaceuticals, Inc.*		134		1,183
Lincoln Educational Services Corp.*		175		1,179
Acacia Research Corp.*		281		1,169
Precigen, Inc.*		999		1,149
Waldencast plc — Class A*		148		1,144
Atara Biotherapeutics, Inc.*		706		1,137
Sanara Medtech, Inc.*		28		1,123
Vigil Neuroscience, Inc.*		119		1,119
Tango Therapeutics, Inc.*		330		1,096
Citius Pharmaceuticals, Inc.*		909		1,091
Foghorn Therapeutics, Inc.*		150		1,056
Allovir, Inc.*		310		1,054
Innovage Holding Corp.*		140		1,050
PDS Biotechnology Corp.*		207		1,041
HireQuest, Inc.		40		1,041
Ikena Oncology, Inc.*		157		1,030
XOMA Corp.*		54		1,020
Omega Therapeutics, Inc.*		180		1,008
Akoya Biosciences, Inc.*		134		990
BioAtla, Inc.*		327		981
Cara Therapeutics, Inc.*		346		979
Semler Scientific, Inc.*		37		971
Selecta Biosciences, Inc.*		859		962
Vicarious Surgical, Inc.*		518		948
Merrimack Pharmaceuticals, Inc.*		77		947
Bioxcel Therapeutics, Inc.*		142		946
Cue Biopharma, Inc.*		256		934
KORU Medical Systems, Inc.*		258		890
Verrica Pharmaceuticals, Inc.*		154		889
Heron Therapeutics, Inc.*		765		887
Poseida Therapeutics, Inc.*		502		884
P3 Health Partners, Inc.*		295		882
Cipher Mining, Inc.*,1		308		881
Quad/Graphics, Inc.*		230		865
Vor BioPharma, Inc.*		279		862
Pulse Biosciences, Inc.*		119		856
Natural Grocers by Vitamin Cottage, Inc.		69		846
Longboard Pharmaceuticals, Inc.*		115		844
CompoSecure, Inc.*,1		122		837
NGM Biopharmaceuticals, Inc.*		322		834
Protalix BioTherapeutics, Inc.*		415		830
Acrivon Therapeutics, Inc.*		64		829
Aadi Bioscience, Inc.*		120		821
Nuvectis Pharma, Inc.*		51		814
IGM Biosciences, Inc.*		88		812
Beyond Air, Inc.*		190		809
Vaxxinity, Inc. — Class A*,1		315		794
Zevia PBC — Class A*		184		793
AirSculpt Technologies, Inc.		90		776
Trevi Therapeutics, Inc.*		308		736
CPI Card Group, Inc.*		31		721
Rent the Runway, Inc. — Class A*		356		705
Biote Corp. — Class A*		103		696
Third Harmonic Bio, Inc.*		144		693
Optinose, Inc.*		539		663
PepGen, Inc.*		74		662
Genelux Corp.*		20		654
Bakkt Holdings, Inc.*,1		515		633
Aveanna Healthcare Holdings, Inc.*		371		627
Larimar Therapeutics, Inc.*		190		595
Adicet Bio, Inc.*		225		547
Century Therapeutics, Inc.*		173		547
Graphite Bio, Inc.*		207		538
Nkarta, Inc.*		224		491
Thorne HealthTech, Inc.*		104		489
Eyenovia, Inc.*		206		488
Priority Technology Holdings, Inc.*		131		474
Reneo Pharmaceuticals, Inc.*		72		472
Emerald Holding, Inc.*		115		471
MarketWise, Inc.		234		468
Zura Bio Ltd.*		56		459
Bright Green Corp.*		446		451
Forafric Global plc*		39		428
ViewRay, Inc.*		1,106		390
Ocean Biomedical, Inc.*		64		385
Prelude Therapeutics, Inc.*		73		328
Orchestra BioMed Holdings, Inc.*		31		217
Ispire Technology, Inc.*		20		183
Rain Oncology, Inc.*		126		151
BioVie, Inc.*		25		108
Babylon Holdings Ltd. — Class A*		73		5
Ligand Pharmaceuticals, Inc.*,††		42		–
Ligand Pharmaceuticals, Inc.*,††		42		–
Total Consumer, Non-cyclical				4,316,988
Financial - 13.7%
Selective Insurance Group, Inc.		445		42,698
Ryman Hospitality Properties, Inc. REIT		427		39,677
SouthState Corp.		563		37,045
Essent Group Ltd.		783		36,644
Terreno Realty Corp. REIT		605		36,361
Kite Realty Group Trust REIT		1,611		35,990
Home BancShares, Inc.		1,411		32,171
PotlatchDeltic Corp. REIT		585		30,917
Independence Realty Trust, Inc. REIT		1,669		30,409
Old National Bancorp		2,168		30,222
American Equity Investment Life Holding Co.		575		29,963
Phillips Edison & Company, Inc. REIT		873		29,752
Radian Group, Inc.		1,164		29,426
United Bankshares, Inc.		968		28,721
First Financial Bankshares, Inc.		964		27,464
Blackstone Mortgage Trust, Inc. — Class A REIT		1,275		26,533
Cadence Bank		1,348		26,475
Essential Properties Realty Trust, Inc. REIT		1,101		25,918

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Glacier Bancorp, Inc.		825	$	25,715
Mr Cooper Group, Inc.*		493		24,965
Valley National Bancorp		3,194		24,754
Hancock Whitney Corp.		642		24,640
Physicians Realty Trust REIT		1,761		24,636
Apple Hospitality REIT, Inc.		1,595		24,100
FTAI Aviation Ltd.		736		23,302
Focus Financial Partners, Inc. — Class A*		435		22,842
Moelis & Co. — Class A		494		22,398
Hamilton Lane, Inc. — Class A		270		21,595
Enstar Group Ltd.*		88		21,493
Broadstone Net Lease, Inc. REIT		1,391		21,477
United Community Banks, Inc.		855		21,366
LXP Industrial Trust REIT		2,144		20,904
Sabra Health Care REIT, Inc.		1,713		20,162
UMB Financial Corp.		328		19,975
CNO Financial Group, Inc.		842		19,930
Corporate Office Properties Trust REIT		834		19,807
Arbor Realty Trust, Inc. REIT1		1,328		19,681
Hannon Armstrong Sustainable Infrastructure Capital, Inc. REIT		765		19,125
Upstart Holdings, Inc.*,1		533		19,087
SITE Centers Corp. REIT		1,410		18,640
Walker & Dunlop, Inc.		235		18,586
Community Bank System, Inc.		394		18,471
Jackson Financial, Inc. — Class A		602		18,427
Texas Capital Bancshares, Inc.*		354		18,231
Associated Banc-Corp.		1,120		18,178
Macerich Co. REIT		1,599		18,021
Genworth Financial, Inc. — Class A*		3,594		17,970
Artisan Partners Asset Management, Inc. — Class A		455		17,886
International Bancshares Corp.		397		17,547
Outfront Media, Inc. REIT		1,092		17,166
WSFS Financial Corp.		453		17,087
McGrath RentCorp		183		16,924
Ameris Bancorp		490		16,763
Tanger Factory Outlet Centers, Inc. REIT		756		16,685
Axos Financial, Inc.*		421		16,604
Cathay General Bancorp		514		16,546
Piper Sandler Cos.		128		16,545
Four Corners Property Trust, Inc. REIT		641		16,281
National Health Investors, Inc. REIT		309		16,198
Simmons First National Corp. — Class A		934		16,111
First BanCorp		1,312		16,033
Douglas Emmett, Inc. REIT		1,258		15,813
Equity Commonwealth REIT		776		15,722
NMI Holdings, Inc. — Class A*		607		15,673
Sunstone Hotel Investors, Inc. REIT		1,541		15,595
ServisFirst Bancshares, Inc.		377		15,427
Innovative Industrial Properties, Inc. REIT		207		15,113
BancFirst Corp.		163		14,996
CareTrust REIT, Inc.		741		14,716
SL Green Realty Corp. REIT1		487		14,634
First Interstate BancSystem, Inc. — Class A		611		14,566
Independent Bank Corp.		327		14,555
Pacific Premier Bancorp, Inc.		702		14,517
Kennedy-Wilson Holdings, Inc.		885		14,452
Atlantic Union Bankshares Corp.		556		14,428
Fulton Financial Corp.		1,204		14,352
First Financial Bancorp		697		14,247
Eastern Bankshares, Inc.		1,147		14,074
Pagseguro Digital Ltd. — Class A*		1,469		13,867
Seacoast Banking Corporation of Florida		623		13,768
Ready Capital Corp. REIT		1,185		13,368
PennyMac Financial Services, Inc.		189		13,289
Urban Edge Properties REIT		850		13,116
CVB Financial Corp.		984		13,068
Bancorp, Inc.*		396		12,929
Washington Federal, Inc.		485		12,862
Navient Corp.		685		12,727
PJT Partners, Inc. — Class A		180		12,535
Pebblebrook Hotel Trust REIT		899		12,532
DiamondRock Hospitality Co. REIT		1,556		12,464
JBG SMITH Properties REIT		827		12,438
First Merchants Corp.		437		12,337
St. Joe Co.		255		12,327
Retail Opportunity Investments Corp. REIT		911		12,308
RLJ Lodging Trust REIT		1,177		12,088
TowneBank		519		12,062
Bank of Hawaii Corp.		290		11,957
Enova International, Inc.*		225		11,952
Apollo Commercial Real Estate Finance, Inc. REIT		1,050		11,886
BankUnited, Inc.		550		11,852
Bread Financial Holdings, Inc.		373		11,708
InvenTrust Properties Corp. REIT		503		11,639
Getty Realty Corp. REIT		332		11,228
Cohen & Steers, Inc.		192		11,134
Banner Corp.		253		11,049
StoneX Group, Inc.*		132		10,967
WesBanco, Inc.		427		10,935
Hilltop Holdings, Inc.		345		10,854
Park National Corp.		106		10,846
BRP Group, Inc. — Class A*		437		10,829
Cannae Holdings, Inc.*		529		10,691
Elme Communities REIT		650		10,686
Renasant Corp.		408		10,661
Service Properties Trust REIT		1,220		10,602
Enterprise Financial Services Corp.		268		10,479
Palomar Holdings, Inc.*		180		10,447
Nelnet, Inc. — Class A		108		10,420
eXp World Holdings, Inc.		512		10,383
BGC Partners, Inc. — Class A		2,325		10,300
City Holding Co.		113		10,169
Xenia Hotels & Resorts, Inc. REIT		826		10,168
Bank of NT Butterfield & Son Ltd.		371		10,151
Compass Diversified Holdings		467		10,129

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Virtus Investment Partners, Inc.		51	$	10,071
Cushman & Wakefield plc*		1,229		10,053
LTC Properties, Inc. REIT		303		10,005
Goosehead Insurance, Inc. — Class A*		159		10,000
Northwest Bancshares, Inc.		943		9,996
Two Harbors Investment Corp. REIT		719		9,980
Alexander & Baldwin, Inc. REIT		537		9,977
Triumph Financial, Inc.*		164		9,958
Acadia Realty Trust REIT		691		9,943
Chimera Investment Corp. REIT		1,722		9,936
Easterly Government Properties, Inc. REIT		685		9,933
StepStone Group, Inc. — Class A		399		9,899
NBT Bancorp, Inc.		309		9,842
Farmer Mac — Class C		68		9,774
Redfin Corp.*		786		9,762
First Commonwealth Financial Corp.		757		9,576
Trustmark Corp.		450		9,504
Pathward Financial, Inc.		203		9,411
Veris Residential, Inc. REIT*		585		9,389
Radius Global Infrastructure, Inc. — Class A*		628		9,357
Apartment Investment and Management Co. — Class A REIT		1,097		9,346
Independent Bank Group, Inc.		268		9,254
Stock Yards Bancorp, Inc.		201		9,119
Ladder Capital Corp. — Class A REIT		838		9,092
Horace Mann Educators Corp.		304		9,017
OFG Bancorp		345		8,998
Lakeland Financial Corp.		184		8,928
Provident Financial Services, Inc.		543		8,873
PennyMac Mortgage Investment Trust REIT		654		8,816
First Bancorp		294		8,746
Heartland Financial USA, Inc.		313		8,723
Franklin BSP Realty Trust, Inc. REIT		615		8,708
MFA Financial, Inc. REIT		757		8,509
Encore Capital Group, Inc.*		172		8,363
Stellar Bancorp, Inc.		360		8,240
Stewart Information Services Corp.		198		8,146
Uniti Group, Inc. REIT		1,762		8,140
NETSTREIT Corp. REIT		453		8,095
Global Net Lease, Inc. REIT		773		7,946
National Bank Holdings Corp. — Class A		272		7,899
S&T Bancorp, Inc.		288		7,831
ARMOUR Residential REIT, Inc. 1		1,451		7,734
Compass, Inc. — Class A*		2,209		7,731
First Busey Corp.		384		7,718
LendingClub Corp.*		787		7,673
TriCo Bancshares		230		7,636
Claros Mortgage Trust, Inc.		671		7,609
Safety Insurance Group, Inc.		106		7,602
NexPoint Residential Trust, Inc. REIT		167		7,595
AMERISAFE, Inc.		141		7,518
Employers Holdings, Inc.		198		7,407
Westamerica BanCorp		193		7,392
FB Financial Corp.		262		7,349
Sandy Spring Bancorp, Inc.		324		7,348
Plymouth Industrial REIT, Inc.		318		7,320
Empire State Realty Trust, Inc. — Class A REIT		977		7,318
PacWest Bancorp1		887		7,229
Hope Bancorp, Inc.		854		7,191
National Western Life Group, Inc. — Class A		17		7,065
Argo Group International Holdings Ltd.*		237		7,018
WisdomTree, Inc.		1,021		7,004
Veritex Holdings, Inc.		388		6,957
American Assets Trust, Inc. REIT		361		6,931
Centerspace REIT		112		6,872
Berkshire Hills Bancorp, Inc.		326		6,758
OceanFirst Financial Corp.		431		6,732
Necessity Retail REIT, Inc.		995		6,726
New York Mortgage Trust, Inc. REIT		673		6,676
Ellington Financial, Inc. REIT		483		6,665
RPT Realty REIT		636		6,646
Piedmont Office Realty Trust, Inc. — Class A REIT		914		6,645
Peoples Bancorp, Inc.		250		6,637
Live Oak Bancshares, Inc.		249		6,551
PRA Group, Inc.*		286		6,535
Avantax, Inc.*		291		6,513
UMH Properties, Inc. REIT		407		6,504
Victory Capital Holdings, Inc. — Class A		205		6,466
Nicolet Bankshares, Inc.		95		6,451
Customers Bancorp, Inc.*		212		6,415
BrightSpire Capital, Inc. REIT		953		6,414
B Riley Financial, Inc.1		138		6,345
Origin Bancorp, Inc.		216		6,329
Lemonade, Inc.*,1		375		6,319
Community Healthcare Trust, Inc. REIT		189		6,241
Newmark Group, Inc. — Class A		995		6,189
Lakeland Bancorp, Inc.		461		6,173
SiriusPoint Ltd.*		676		6,104
Paramount Group, Inc. REIT		1,369		6,065
ProAssurance Corp.		400		6,036
Mercury General Corp.		198		5,993
Brandywine Realty Trust REIT		1,259		5,854
Capitol Federal Financial, Inc.		944		5,825
Armada Hoffler Properties, Inc. REIT		498		5,817
First Bancshares, Inc.		224		5,788
Trupanion, Inc.*		293		5,766
Peakstone Realty Trust REIT		206		5,752
Patria Investments Ltd. — Class A		402		5,749
Bank First Corp.		69		5,741
Tompkins Financial Corp.		103		5,737
Southside Bancshares, Inc.		218		5,703
Brookline Bancorp, Inc.		646		5,646
Marcus & Millichap, Inc.		179		5,640
German American Bancorp, Inc.		207		5,626

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
International Money Express, Inc.*		228	$	5,593
Enact Holdings, Inc.		222		5,579
Preferred Bank/Los Angeles CA		99		5,444
Redwood Trust, Inc. REIT		843		5,370
Anywhere Real Estate, Inc.*		798		5,331
KKR Real Estate Finance Trust, Inc. REIT		436		5,306
Safehold, Inc. REIT		220		5,221
1st Source Corp.		123		5,157
Brightsphere Investment Group, Inc.		241		5,049
Summit Hotel Properties, Inc. REIT		775		5,045
Dynex Capital, Inc. REIT		400		5,036
QCR Holdings, Inc.		122		5,006
James River Group Holdings Ltd.		274		5,003
AssetMark Financial Holdings, Inc.*		163		4,835
Eagle Bancorp, Inc.		227		4,803
Applied Digital Corp.*,1		504		4,712
Banc of California, Inc.		404		4,678
Ambac Financial Group, Inc.*		327		4,657
Farmland Partners, Inc. REIT		374		4,567
Dime Community Bancshares, Inc.		259		4,566
ConnectOne Bancorp, Inc.		274		4,546
Universal Health Realty Income Trust REIT		95		4,520
Urstadt Biddle Properties, Inc. — Class A REIT		211		4,486
CBL & Associates Properties, Inc. REIT		199		4,386
Hudson Pacific Properties, Inc. REIT		1,022		4,313
Premier Financial Corp.		262		4,197
Old Second Bancorp, Inc.		321		4,192
Heritage Financial Corp.		257		4,156
Global Medical REIT, Inc.		451		4,118
Community Trust Bancorp, Inc.		115		4,091
Gladstone Land Corp. REIT		248		4,035
Diversified Healthcare Trust REIT		1,767		3,976
TrustCo Bank Corporation NY		138		3,948
Ares Commercial Real Estate Corp. REIT		384		3,898
Univest Financial Corp.		215		3,887
First Community Bankshares, Inc.		130		3,865
Columbia Financial, Inc.*		220		3,804
TPG RE Finance Trust, Inc. REIT		511		3,787
World Acceptance Corp.*		28		3,752
Gladstone Commercial Corp. REIT		298		3,686
Heritage Commerce Corp.		438		3,627
Brookfield Business Corp. — Class A		192		3,625
Diamond Hill Investment Group, Inc.		21		3,597
P10, Inc. — Class A		318		3,593
Invesco Mortgage Capital, Inc. REIT		310		3,556
United Fire Group, Inc.		156		3,535
Whitestone REIT — Class B		360		3,492
F&G Annuities & Life, Inc.		139		3,444
First Mid Bancshares, Inc.		142		3,428
Peapack-Gladstone Financial Corp.		126		3,412
Great Southern Bancorp, Inc.		67		3,399
Farmers National Banc Corp.		273		3,377
Northfield Bancorp, Inc.		307		3,371
Hanmi Financial Corp.		225		3,359
Washington Trust Bancorp, Inc.		125		3,351
Chatham Lodging Trust REIT		357		3,342
Horizon Bancorp, Inc.		319		3,321
Byline Bancorp, Inc.		183		3,310
CrossFirst Bankshares, Inc.*		330		3,300
Amerant Bancorp, Inc.		191		3,283
Camden National Corp.		106		3,283
Mercantile Bank Corp.		116		3,204
Saul Centers, Inc. REIT		86		3,167
Midland States Bancorp, Inc.		157		3,126
MBIA, Inc.*		358		3,093
Burke & Herbert Financial Services Corp.		48		3,082
Central Pacific Financial Corp.		196		3,079
Cambridge Bancorp		56		3,041
Coastal Financial Corp.*		80		3,012
Orchid Island Capital, Inc. REIT		291		3,012
Capital City Bank Group, Inc.		98		3,003
Merchants Bancorp		117		2,993
Kearny Financial Corp.		424		2,989
HCI Group, Inc.		48		2,965
Alexander's, Inc. REIT		16		2,942
Universal Insurance Holdings, Inc.		187		2,885
NexPoint Diversified Real Estate Trust REIT		227		2,842
First Financial Corp.		87		2,825
FRP Holdings, Inc.*		49		2,821
Orion Office REIT, Inc.		423		2,796
CTO Realty Growth, Inc. REIT		163		2,794
Office Properties Income Trust REIT		356		2,741
NewtekOne, Inc.		172		2,735
Republic Bancorp, Inc. — Class A		64		2,720
Bar Harbor Bankshares		110		2,710
Metropolitan Bank Holding Corp.*		78		2,709
FTAI Infrastructure, Inc.		732		2,701
CNB Financial Corp.		153		2,700
HarborOne Bancorp, Inc.		310		2,691
Business First Bancshares, Inc.		177		2,667
Tiptree, Inc. — Class A		177		2,657
RMR Group, Inc. — Class A		114		2,641
Perella Weinberg Partners		315		2,624
Carter Bankshares, Inc.*		175		2,588
Flushing Financial Corp.		209		2,569
Independent Bank Corp.		149		2,527
SmartFinancial, Inc.		117		2,517
Equity Bancshares, Inc. — Class A		110		2,506
RE/MAX Holdings, Inc. — Class A		129		2,485
One Liberty Properties, Inc. REIT		120		2,438
Alerus Financial Corp.		135		2,427

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Southern Missouri Bancorp, Inc.		63	$	2,422
Metrocity Bankshares, Inc.		135		2,415
HomeTrust Bancshares, Inc.		115		2,402
Citizens Financial Services, Inc.		32		2,383
NerdWallet, Inc. — Class A*		253		2,381
Northeast Bank		57		2,375
Hingham Institution For Savings The		11		2,345
Esquire Financial Holdings, Inc.		51		2,333
Mid Penn Bancorp, Inc.		105		2,318
GCM Grosvenor, Inc. — Class A		307		2,315
Peoples Financial Services Corp.		52		2,277
Farmers & Merchants Bancorp Incorporated/Archbold OH		100		2,251
MidWestOne Financial Group, Inc.		105		2,244
West BanCorp, Inc.		120		2,209
American National Bankshares, Inc.		76		2,202
Bit Digital, Inc.*		535		2,172
Citizens & Northern Corp.		112		2,162
Arrow Financial Corp.		106		2,135
Amalgamated Financial Corp.		131		2,108
Five Star Bancorp		94		2,103
ACNB Corp.		62		2,057
Enterprise Bancorp, Inc.		71		2,055
Bank of Marin Bancorp		116		2,050
Postal Realty Trust, Inc. — Class A REIT		139		2,045
Greenlight Capital Re Ltd. — Class A*		191		2,012
Granite Point Mortgage Trust, Inc. REIT		378		2,003
South Plains Financial, Inc.		89		2,003
Civista Bancshares, Inc.		114		1,984
Forge Global Holdings, Inc.*		812		1,973
Waterstone Financial, Inc.		136		1,971
Selectquote, Inc.*		1,009		1,968
Skyward Specialty Insurance Group, Inc.*,1		77		1,956
Braemar Hotels & Resorts, Inc. REIT		485		1,950
First of Long Island Corp.		158		1,899
Blue Foundry Bancorp*		183		1,850
John Marshall Bancorp, Inc.		92		1,848
Chicago Atlantic Real Estate Finance, Inc. REIT		121		1,833
HBT Financial, Inc.		99		1,826
Macatawa Bank Corp.		195		1,810
Home Bancorp, Inc.		54		1,793
Capstar Financial Holdings, Inc.		145		1,779
MVB Financial Corp.		84		1,771
Red River Bancshares, Inc.		36		1,769
Regional Management Corp.		58		1,769
Financial Institutions, Inc.		112		1,763
First Bancorp, Inc.		72		1,752
BRT Apartments Corp. REIT		88		1,742
Sierra Bancorp		102		1,731
LendingTree, Inc.*		78		1,725
Summit Financial Group, Inc.		83		1,715
First Business Financial Services, Inc.		58		1,710
Legacy Housing Corp.*		73		1,693
Guaranty Bancshares, Inc.		62		1,679
Fidelity D&D Bancorp, Inc.		34		1,652
Donegal Group, Inc. — Class A		114		1,645
Sculptor Capital Management, Inc.		185		1,634
Norwood Financial Corp.		55		1,624
Northrim BanCorp, Inc.		41		1,613
City Office REIT, Inc.		288		1,604
Alpine Income Property Trust, Inc. REIT		96		1,560
Middlefield Banc Corp.		58		1,554
Greene County Bancorp, Inc.		52		1,550
Shore Bancshares, Inc.		132		1,526
Third Coast Bancshares, Inc.*		95		1,508
AFC Gamma, Inc. REIT		121		1,506
First Foundation, Inc.		379		1,505
Bridgewater Bancshares, Inc.*		151		1,487
RBB Bancorp		124		1,481
FS Bancorp, Inc.		49		1,473
Northeast Community Bancorp, Inc.		99		1,473
Orrstown Financial Services, Inc.		76		1,455
eHealth, Inc.*		181		1,455
BayCom Corp.		87		1,451
Ocwen Financial Corp.*		48		1,439
Silvercrest Asset Management Group, Inc. — Class A		71		1,438
Timberland Bancorp, Inc.		56		1,433
Atlanticus Holdings Corp.*		34		1,428
Plumas Bancorp		40		1,428
Southern First Bancshares, Inc.*		57		1,411
Maiden Holdings Ltd.*		671		1,409
Star Holdings*		96		1,408
Hersha Hospitality Trust — Class A REIT		231		1,407
Orange County Bancorp, Inc.		38		1,406
Codorus Valley Bancorp, Inc.		71		1,392
Douglas Elliman, Inc.		599		1,330
Investors Title Co.		9		1,314
Ponce Financial Group, Inc.*		151		1,312
Parke Bancorp, Inc.		77		1,308
BCB Bancorp, Inc.		111		1,303
Hippo Holdings, Inc.*		78		1,289
C&F Financial Corp.		24		1,289
Capital Bancorp, Inc.		71		1,285
FVCBankcorp, Inc.*		119		1,282
Penns Woods Bancorp, Inc.		51		1,277
Unity Bancorp, Inc.		54		1,274
Primis Financial Corp.		150		1,263
Oak Valley Bancorp		50		1,259
National Bankshares, Inc.		43		1,255
First Bank/Hamilton NJ		118		1,225
ChoiceOne Financial Services, Inc.		52		1,196
AlTi Global, Inc.*		156		1,195
PCB Bancorp		81		1,192
Crawford & Co. — Class A		107		1,187
Southern States Bancshares, Inc.		55		1,160
MainStreet Bancshares, Inc.		51		1,156
Ames National Corp.		64		1,154
LCNB Corp.		78		1,151
Blue Ridge Bankshares, Inc.		130		1,150
Colony Bankcorp, Inc.		122		1,149

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Central Valley Community Bancorp		74	$	1,143
Virginia National Bankshares Corp.		35		1,125
Stratus Properties, Inc.		42		1,103
First Western Financial, Inc.*		59		1,097
Bankwell Financial Group, Inc.		44		1,073
Princeton Bancorp, Inc.		38		1,038
Community Financial Corp.		38		1,029
Chemung Financial Corp.		26		999
Evans Bancorp, Inc.1		39		972
ESSA Bancorp, Inc.		64		957
First Community Corp.		54		937
Nexpoint Real Estate Finance, Inc. REIT		60		935
NI Holdings, Inc.*		61		906
Sterling Bancorp, Inc.*		156		853
Consumer Portfolio Services, Inc.*		69		805
Maui Land & Pineapple Company, Inc.*		56		797
USCB Financial Holdings, Inc.*		78		796
HomeStreet, Inc.		134		793
Security National Financial Corp. — Class A*		88		781
Pioneer Bancorp, Inc.*		86		770
Finance of America Companies, Inc. — Class A*		395		754
Velocity Financial, Inc.*		65		749
Angel Oak Mortgage REIT, Inc.		87		717
Bank7 Corp.		28		687
Luther Burbank Corp.		76		678
United Insurance Holdings Corp.*		145		647
Kingsway Financial Services, Inc.*		79		644
Paysign, Inc.*		241		590
GoHealth, Inc. — Class A*		29		572
Clipper Realty, Inc. REIT		95		539
Transcontinental Realty Investors, Inc.*		14		513
SWK Holdings Corp.*		28		469
American Realty Investors, Inc.*		11		240
OppFi, Inc.*		80		163
Home Point Capital, Inc.*		58		135
Total Financial				3,562,453
Industrial - 10.3%
Chart Industries, Inc.*		312		49,854
Novanta, Inc.*		265		48,786
Atkore, Inc.*		293		45,690
Simpson Manufacturing Company, Inc.		318		44,043
UFP Industries, Inc.		444		43,090
Comfort Systems USA, Inc.		262		43,020
Applied Industrial Technologies, Inc.		286		41,421
Casella Waste Systems, Inc. — Class A*		412		37,265
Watts Water Technologies, Inc. — Class A		202		37,113
Mueller Industries, Inc.		415		36,221
Fabrinet*		272		35,327
Franklin Electric Company, Inc.		342		35,192
Exponent, Inc.		375		34,995
GATX Corp.		263		33,859
Summit Materials, Inc. — Class A*		884		33,459
EnerSys		305		33,099
Aerojet Rocketdyne Holdings, Inc.*		590		32,373
Badger Meter, Inc.		218		32,168
AAON, Inc.		334		31,667
Fluor Corp.*		1,055		31,228
Advanced Energy Industries, Inc.		278		30,983
Belden, Inc.		315		30,130
Terex Corp.		497		29,735
Zurn Elkay Water Solutions Corp.		1,095		29,445
John Bean Technologies Corp.		236		28,627
Federal Signal Corp.		443		28,365
Vishay Intertechnology, Inc.		954		28,048
SPX Technologies, Inc.*		327		27,785
Arcosa, Inc.		359		27,201
Boise Cascade Co.		294		26,563
Hillenbrand, Inc.		511		26,204
Sanmina Corp.*		427		25,735
O-I Glass, Inc.*		1,149		24,508
Itron, Inc.*		337		24,298
Dycom Industries, Inc.*		212		24,094
Bloom Energy Corp. — Class A*		1,425		23,299
Encore Wire Corp.		124		23,055
Moog, Inc. — Class A		210		22,770
Albany International Corp. — Class A		231		21,548
Joby Aviation, Inc.*		2,062		21,156
EnPro Industries, Inc.		155		20,697
Werner Enterprises, Inc.		468		20,676
Matson, Inc.		264		20,521
Forward Air Corp.		193		20,479
Cactus, Inc. — Class A		478		20,229
Plexus Corp.*		203		19,943
ESCO Technologies, Inc.		189		19,586
Hub Group, Inc. — Class A*		243		19,518
RXO, Inc.*		860		19,496
Frontdoor, Inc.*		609		19,427
Kadant, Inc.		86		19,101
CSW Industrials, Inc.		114		18,946
AeroVironment, Inc.*		185		18,922
Mueller Water Products, Inc. — Class A		1,148		18,632
Scorpio Tankers, Inc.		390		18,420
Enovix Corp.*,1		1,013		18,275
Energizer Holdings, Inc.		530		17,797
ArcBest Corp.		178		17,586
Materion Corp.		152		17,358
Kennametal, Inc.		597		16,949
MYR Group, Inc.*		122		16,877
Masonite International Corp.*		164		16,800
Knife River Corp.*		377		16,399
Helios Technologies, Inc.		242		15,994
Worthington Industries, Inc.		228		15,839
Trinity Industries, Inc.		601		15,452
Barnes Group, Inc.		362		15,273
Golar LNG Ltd.		750		15,127
AAR Corp.*		255		14,729
Gibraltar Industries, Inc.*		229		14,409
Alamo Group, Inc.		75		13,793

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
OSI Systems, Inc.*		117	$	13,786
Kratos Defense & Security Solutions, Inc.*		927		13,293
Griffon Corp.		325		13,097
Granite Construction, Inc.		326		12,968
Greif, Inc. — Class A		183		12,607
Modine Manufacturing Co.*		381		12,581
PGT Innovations, Inc.*		430		12,535
Mirion Technologies, Inc.*		1,482		12,523
Sterling Infrastructure, Inc.*		222		12,388
Rocket Lab USA, Inc.*		2,062		12,372
Standex International Corp.		87		12,308
Knowles Corp.*		665		12,010
Primoris Services Corp.		393		11,975
Energy Recovery, Inc.*		412		11,515
International Seaways, Inc.		301		11,510
Hillman Solutions Corp.*		1,277		11,506
Enerpac Tool Group Corp.		425		11,475
NV5 Global, Inc.*		101		11,188
Masterbrand, Inc.*		960		11,165
Tennant Co.		137		11,112
JELD-WEN Holding, Inc.*		630		11,050
TTM Technologies, Inc.*		757		10,522
Greenbrier Companies, Inc.		233		10,042
CTS Corp.		232		9,890
Lindsay Corp.		82		9,786
World Kinect Corp.		456		9,430
American Woodmark Corp.*		123		9,394
Construction Partners, Inc. — Class A*		297		9,323
Marten Transport Ltd.		430		9,245
PureCycle Technologies, Inc.*		859		9,183
NEXTracker, Inc. — Class A*		229		9,117
Vicor Corp.*		164		8,856
Montrose Environmental Group, Inc.*		206		8,677
DHT Holdings, Inc.		1,015		8,658
Columbus McKinnon Corp.		209		8,496
TriMas Corp.		307		8,439
Napco Security Technologies, Inc.		233		8,073
AZZ, Inc.		184		7,997
SFL Corporation Ltd.		852		7,949
Ichor Holdings Ltd.*		211		7,912
Air Transport Services Group, Inc.*		417		7,869
Apogee Enterprises, Inc.		163		7,738
Astec Industries, Inc.		168		7,634
CIRCOR International, Inc.*		135		7,621
Ryerson Holding Corp.		167		7,244
GrafTech International Ltd.		1,434		7,227
TimkenSteel Corp.*		322		6,946
Golden Ocean Group Ltd.		910		6,871
Sturm Ruger & Company, Inc.		129		6,832
Proto Labs, Inc.*		195		6,817
Chase Corp.		56		6,788
Benchmark Electronics, Inc.		262		6,767
Teekay Tankers Ltd. — Class A		177		6,767
FLEX LNG Ltd.		220		6,717
Janus International Group, Inc.*		628		6,694
Thermon Group Holdings, Inc.*		247		6,570
Leonardo DRS, Inc.*		373		6,468
Dorian LPG Ltd.		237		6,079
MicroVision, Inc.*		1,308		5,991
Triumph Group, Inc.*		477		5,901
Enviri Corp.*		584		5,764
Heartland Express, Inc.		347		5,694
Li-Cycle Holdings Corp.*,1		1,020		5,661
Nordic American Tankers Ltd.		1,518		5,571
CryoPort, Inc.*		317		5,468
Xometry, Inc. — Class A*		251		5,316
Myers Industries, Inc.		270		5,246
SmartRent, Inc.*		1,363		5,220
Kaman Corp.		208		5,061
nLight, Inc.*		326		5,027
Evolv Technologies Holdings, Inc.*		833		4,998
Kimball Electronics, Inc.*		177		4,891
Mesa Laboratories, Inc.		38		4,883
Gorman-Rupp Co.		169		4,872
Manitowoc Company, Inc.*		258		4,858
Eagle Bulk Shipping, Inc.1		101		4,852
Archer Aviation, Inc. — Class A*		1,128		4,648
Hyster-Yale Materials Handling, Inc.		80		4,467
Bel Fuse, Inc. — Class B		77		4,421
Smith & Wesson Brands, Inc.		338		4,408
Heritage-Crystal Clean, Inc.*		116		4,384
Genco Shipping & Trading Ltd.		311		4,363
Insteel Industries, Inc.		139		4,326
Powell Industries, Inc.		68		4,120
Allied Motion Technologies, Inc.		102		4,074
LSB Industries, Inc.*		407		4,009
GoPro, Inc. — Class A*		957		3,962
Great Lakes Dredge & Dock Corp.*		485		3,958
DXP Enterprises, Inc.*		107		3,896
Clearwater Paper Corp.*		124		3,884
Astronics Corp.*		192		3,813
Ardmore Shipping Corp.		304		3,754
Argan, Inc.		94		3,705
Stoneridge, Inc.*		196		3,695
Ducommun, Inc.*		83		3,616
Olympic Steel, Inc.		73		3,577
IES Holdings, Inc.*		61		3,470
Costamare, Inc.		358		3,462
NVE Corp.		35		3,410
Cadre Holdings, Inc.		144		3,139
Aspen Aerogels, Inc.*		378		2,982
Teekay Corp.*		493		2,978
CECO Environmental Corp.*		220		2,939
Greif, Inc. — Class B		38		2,935
Luxfer Holdings plc		203		2,888
National Presto Industries, Inc.		38		2,782
AerSale Corp.*		189		2,778
Covenant Logistics Group, Inc. — Class A		63		2,761
NuScale Power Corp.*		396		2,693
Babcock & Wilcox Enterprises, Inc.*		435		2,566
Omega Flex, Inc.		24		2,491
FARO Technologies, Inc.*		150		2,430
LSI Industries, Inc.		193		2,424
Bowman Consulting Group Ltd.*		74		2,359
Tutor Perini Corp.*		314		2,245
Pactiv Evergreen, Inc.		296		2,241
Northwest Pipe Co.*		73		2,207
Daseke, Inc.*		299		2,132

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Blink Charging Co.*,1		341	$	2,043
Park Aerospace Corp.		145		2,001
Eastman Kodak Co.*		422		1,950
Comtech Telecommunications Corp.		202		1,846
Radiant Logistics, Inc.*		273		1,835
Pangaea Logistics Solutions Ltd.		269		1,821
Overseas Shipholding Group, Inc. — Class A*		427		1,781
Safe Bulkers, Inc.		522		1,702
Limbach Holdings, Inc.*		68		1,682
Akoustis Technologies, Inc.*		511		1,625
Pure Cycle Corp.*		145		1,595
Concrete Pumping Holdings, Inc.*		192		1,542
Ranpak Holdings Corp.*		321		1,451
Universal Logistics Holdings, Inc.		50		1,440
AMMO, Inc.*		667		1,421
US Xpress Enterprises, Inc. — Class A*		229		1,406
Eve Holding, Inc.*		134		1,404
Turtle Beach Corp.*		116		1,351
Sight Sciences, Inc.*		160		1,325
Tredegar Corp.		195		1,301
Core Molding Technologies, Inc.*		57		1,297
Iteris, Inc.*		316		1,251
PAM Transportation Services, Inc.*		46		1,231
Gencor Industries, Inc.*		78		1,215
Mistras Group, Inc.*		154		1,189
Park-Ohio Holdings Corp.		62		1,178
Himalaya Shipping Ltd.*		202		1,123
SKYX Platforms Corp.*		420		1,117
908 Devices, Inc.*		162		1,111
Latham Group, Inc.*		287		1,065
374Water, Inc.*		438		1,047
LanzaTech Global, Inc.*		153		1,045
Mayville Engineering Company, Inc.*		82		1,022
ESS Tech, Inc.*		675		992
Charge Enterprises, Inc.*		996		976
Willis Lease Finance Corp.*		21		822
Karat Packaging, Inc.		42		767
Intevac, Inc.*		189		709
Transphorm, Inc.*		200		680
Berkshire Grey, Inc.*		468		660
INNOVATE Corp.*		339		593
NL Industries, Inc.		62		343
Amprius Technologies, Inc.*		40		287
Southland Holdings, Inc.*		28		230
Redwire Corp.*		58		148
Total Industrial				2,679,557
Consumer, Cyclical - 8.0%
Light & Wonder, Inc. — Class A*		676		46,482
Asbury Automotive Group, Inc.*		160		38,467
Meritage Homes Corp.		269		38,271
Taylor Morrison Home Corp. — Class A*		778		37,943
Fox Factory Holding Corp.*		316		34,289
Beacon Roofing Supply, Inc.*		362		30,039
Visteon Corp.*		208		29,871
Academy Sports & Outdoors, Inc.		552		29,836
Goodyear Tire & Rubber Co.*		2,083		28,495
KB Home		548		28,337
Hilton Grand Vacations, Inc.*		602		27,355
Adient plc*		707		27,092
Group 1 Automotive, Inc.		103		26,584
FirstCash Holdings, Inc.		279		26,039
Skyline Champion Corp.*		396		25,918
International Game Technology plc		803		25,608
Installed Building Products, Inc.		175		24,528
Tri Pointe Homes, Inc.*		734		24,119
LCI Industries		183		23,124
Shake Shack, Inc. — Class A*		279		21,684
JetBlue Airways Corp.*		2,446		21,671
Signet Jewelers Ltd.		330		21,536
GMS, Inc.*		308		21,314
Topgolf Callaway Brands Corp.*		1,065		21,140
LGI Homes, Inc.*		154		20,773
MDC Holdings, Inc.		434		20,298
Cavco Industries, Inc.*		65		19,175
Resideo Technologies, Inc.*		1,084		19,143
Papa John's International, Inc.		258		19,048
Rush Enterprises, Inc. — Class A		307		18,647
Boot Barn Holdings, Inc.*		220		18,632
Carvana Co.*		710		18,403
Steven Madden Ltd.		557		18,208
Bloomin' Brands, Inc.		648		17,425
M/I Homes, Inc.*		199		17,351
Kontoor Brands, Inc.		412		17,345
UniFirst Corp.		111		17,206
SeaWorld Entertainment, Inc.*		295		16,523
Red Rock Resorts, Inc. — Class A		352		16,467
Foot Locker, Inc.		607		16,456
Dana, Inc.		965		16,405
Century Communities, Inc.		210		16,090
American Eagle Outfitters, Inc.		1,352		15,954
Urban Outfitters, Inc.*		472		15,638
Dorman Products, Inc.*		195		15,372
Sonos, Inc.*		940		15,350
Cracker Barrel Old Country Store, Inc.		163		15,188
Jack in the Box, Inc.		154		15,020
Allegiant Travel Co. — Class A*		117		14,775
Winnebago Industries, Inc.		219		14,605
SkyWest, Inc.*		357		14,537
Dave & Buster's Entertainment, Inc.*		321		14,304
PriceSmart, Inc.		191		14,145
XPEL, Inc.*		167		14,065
National Vision Holdings, Inc.*		575		13,967
Spirit Airlines, Inc.		812		13,934
Six Flags Entertainment Corp.*		534		13,873
Luminar Technologies, Inc.*,1		2,014		13,856
Gentherm, Inc.*		245		13,845
Abercrombie & Fitch Co. — Class A*		361		13,602
Cinemark Holdings, Inc.*		813		13,415
Patrick Industries, Inc.		158		12,640
Acushnet Holdings Corp.		231		12,631
Cheesecake Factory, Inc.		359		12,414
Leslie's, Inc.*		1,314		12,338

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Nu Skin Enterprises, Inc. — Class A		369	$	12,251
Veritiv Corp.		97		12,184
OPENLANE, Inc.*		799		12,161
ODP Corp.*		254		11,892
Brinker International, Inc.*		324		11,858
Hanesbrands, Inc.		2,604		11,822
Vista Outdoor, Inc.*		417		11,538
Green Brick Partners, Inc.*		195		11,076
Liberty Media Corporation-Liberty Braves — Class C*		277		10,975
Oxford Industries, Inc.		111		10,925
H&E Equipment Services, Inc.		238		10,889
Madison Square Garden Entertainment Corp.*		320		10,758
Sally Beauty Holdings, Inc.*		794		9,806
HNI Corp.		342		9,637
indie Semiconductor, Inc. — Class A*		1,019		9,579
Camping World Holdings, Inc. — Class A1		309		9,301
La-Z-Boy, Inc.		321		9,193
iRobot Corp.*		203		9,186
Sweetgreen, Inc. — Class A*		715		9,166
Everi Holdings, Inc.*		624		9,023
Wabash National Corp.		351		9,000
Dillard's, Inc. — Class A		27		8,810
Malibu Boats, Inc. — Class A*		150		8,799
Methode Electronics, Inc.		261		8,749
Wolverine World Wide, Inc.		575		8,447
MillerKnoll, Inc.		562		8,306
Fisker, Inc.*,1		1,451		8,184
Buckle, Inc.		226		7,820
Warby Parker, Inc. — Class A*		627		7,330
Virgin Galactic Holdings, Inc.*,1		1,868		7,248
Lions Gate Entertainment Corp. — Class B*		856		7,148
Portillo's, Inc. — Class A*		314		7,074
Monarch Casino & Resort, Inc.		100		7,045
Winmark Corp.		21		6,982
American Axle & Manufacturing Holdings, Inc.*		844		6,980
Dine Brands Global, Inc.		116		6,731
Aurora Innovation, Inc.*		2,249		6,612
OneSpaWorld Holdings Ltd.*		540		6,534
Life Time Group Holdings, Inc.*		330		6,491
Sun Country Airlines Holdings, Inc.*		279		6,272
Golden Entertainment, Inc.*		150		6,270
MRC Global, Inc.*		621		6,253
Clean Energy Fuels Corp.*		1,255		6,225
Beazer Homes USA, Inc.*		218		6,167
Caleres, Inc.		257		6,150
BlueLinx Holdings, Inc.*		65		6,096
Nikola Corp.*,1		4,390		6,058
G-III Apparel Group Ltd.*		312		6,012
Standard Motor Products, Inc.		157		5,891
Sovos Brands, Inc.*		294		5,751
IMAX Corp.*		332		5,641
Shyft Group, Inc.		255		5,625
Sonic Automotive, Inc. — Class A		116		5,530
ScanSource, Inc.*		186		5,498
Chuy's Holdings, Inc.*		134		5,470
MarineMax, Inc.*		158		5,397
BJ's Restaurants, Inc.*		168		5,342
Sphere Entertainment Co.*		193		5,286
A-Mark Precious Metals, Inc.		141		5,278
Steelcase, Inc. — Class A		652		5,027
Douglas Dynamics, Inc.		167		4,990
Denny's Corp.*		404		4,977
Arko Corp.		609		4,842
Chico's FAS, Inc.*		902		4,826
Franchise Group, Inc.		168		4,811
RCI Hospitality Holdings, Inc.		63		4,787
Ethan Allen Interiors, Inc.		169		4,779
Titan Machinery, Inc.*		152		4,484
Titan International, Inc.*		388		4,454
Dream Finders Homes, Inc. — Class A*		179		4,402
VSE Corp.		79		4,321
Sleep Number Corp.*		158		4,310
America's Car-Mart, Inc.*		43		4,290
Accel Entertainment, Inc.*		399		4,213
Guess?, Inc.		213		4,143
Xperi, Inc.*		312		4,103
Hawaiian Holdings, Inc.*		377		4,060
Kura Sushi USA, Inc. — Class A*		43		3,997
MasterCraft Boat Holdings, Inc.*		130		3,985
PC Connection, Inc.		85		3,833
Lions Gate Entertainment Corp. — Class A*		431		3,806
Vizio Holding Corp. — Class A*		561		3,787
Interface, Inc. — Class A		424		3,727
Designer Brands, Inc. — Class A		365		3,686
Hovnanian Enterprises, Inc. — Class A*		36		3,572
Bally's Corp.*		218		3,392
Hibbett, Inc.		93		3,375
Haverty Furniture Companies, Inc.		108		3,264
Xponential Fitness, Inc. — Class A*		183		3,157
Rush Enterprises, Inc. — Class B		46		3,131
Hudson Technologies, Inc.*		324		3,117
REV Group, Inc.		234		3,103
OneWater Marine, Inc. — Class A*		85		3,080
Forestar Group, Inc.*		136		3,067
Movado Group, Inc.		113		3,032
Liberty Media Corporation-Liberty Braves — Class A*		74		3,028
Super Group SGHC Ltd.*		1,009		2,926
Blue Bird Corp.*		130		2,922
Shoe Carnival, Inc.		124		2,911
Solid Power, Inc.*		1,146		2,911
Miller Industries, Inc.		82		2,909
Bluegreen Vacations Holding Corp.		80		2,852
Lindblad Expeditions Holdings, Inc.*		259		2,818
Lovesac Co.*		104		2,803
Funko, Inc. — Class A*		257		2,781
Frontier Group Holdings, Inc.*		282		2,727
Global Industrial Co.		97		2,694
Marcus Corp.		179		2,655
Commercial Vehicle Group, Inc.*		238		2,642
Bowlero Corp.*		217		2,526

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Johnson Outdoors, Inc. — Class A		40	$	2,458
SES AI Corp.*		923		2,252
Genesco, Inc.*		89		2,229
EVgo, Inc.*,1		530		2,120
Destination XL Group, Inc.*		431		2,112
Build-A-Bear Workshop, Inc. — Class A		98		2,099
PetMed Express, Inc.		152		2,096
Children's Place, Inc.*		88		2,042
TuSimple Holdings, Inc. — Class A*		1,221		2,027
Clarus Corp.		216		1,974
Zumiez, Inc.*		118		1,966
Proterra, Inc.*,1		1,637		1,964
First Watch Restaurant Group, Inc.*		112		1,893
El Pollo Loco Holdings, Inc.		212		1,859
Big Lots, Inc.		210		1,854
Daktronics, Inc.*		289		1,850
Hyliion Holdings Corp.*		1,091		1,822
Cooper-Standard Holdings, Inc.*		125		1,782
Global Business Travel Group I*		239		1,728
Potbelly Corp.*		193		1,695
Full House Resorts, Inc.*		243		1,628
Red Robin Gourmet Burgers, Inc.*		117		1,618
Sportsman's Warehouse Holdings, Inc.*		280		1,596
Holley, Inc.*		390		1,595
Snap One Holdings Corp.*		135		1,573
Hooker Furnishings Corp.		81		1,511
GrowGeneration Corp.*		435		1,479
Big 5 Sporting Goods Corp.		159		1,456
Rush Street Interactive, Inc.*		466		1,454
Century Casinos, Inc.*		203		1,441
Carrols Restaurant Group, Inc.*		272		1,371
Purple Innovation, Inc.		475		1,321
ThredUp, Inc. — Class A*		531		1,296
VOXX International Corp. — Class A*		103		1,285
Microvast Holdings, Inc.*		777		1,243
Vera Bradley, Inc.*		194		1,240
ONE Group Hospitality, Inc.*		162		1,186
Tile Shop Holdings, Inc.*		213		1,180
Weyco Group, Inc.		44		1,174
Tilly's, Inc. — Class A*		166		1,164
Traeger, Inc.*		260		1,105
Rocky Brands, Inc.		52		1,092
Lazydays Holdings, Inc.*		94		1,087
Workhorse Group, Inc.*		1,227		1,069
JAKKS Pacific, Inc.*		53		1,058
Marine Products Corp.		62		1,045
Fiesta Restaurant Group, Inc.*		131		1,040
Cato Corp. — Class A		129		1,036
Noodles & Co.*		297		1,004
Escalade, Inc.		74		988
Biglari Holdings, Inc. — Class B*		5		986
Livewire Group, Inc.*		82		968
Landsea Homes Corp.*		99		925
Fossil Group, Inc.*		352		905
Reservoir Media, Inc.*		147		885
EVI Industries, Inc.*		35		770
Aeva Technologies, Inc.*		588		735
J Jill, Inc.*		34		729
Loop Media, Inc.*		270		645
Duluth Holdings, Inc. — Class B*		100		628
United Homes Group, Inc.*		46		513
Envela Corp.*		56		412
Torrid Holdings, Inc.*		89		250
CompX International, Inc.		11		240
Liberty TripAdvisor Holdings, Inc. — Class B*		4		187
Dragonfly Energy Holdings Corp.*		113		167
Qurate Retail, Inc. — Class B*		10		83
Total Consumer, Cyclical				2,076,747
Technology - 7.8%
Super Micro Computer, Inc.*		344		85,497
SPS Commerce, Inc.*		272		52,240
Rambus, Inc.*		807		51,785
Axcelis Technologies, Inc.*		241		44,182
Onto Innovation, Inc.*		362		42,162
Power Integrations, Inc.		420		39,761
Maximus, Inc.		450		38,029
Silicon Laboratories, Inc.*		235		37,069
Workiva, Inc.*		362		36,801
Tenable Holdings, Inc.*		845		36,800
ExlService Holdings, Inc.*		239		36,103
Qualys, Inc.*		275		35,522
Insight Enterprises, Inc.*		212		31,024
Diodes, Inc.*		334		30,892
Box, Inc. — Class A*		1,043		30,643
Duolingo, Inc.*		212		30,303
Altair Engineering, Inc. — Class A*		397		30,108
MicroStrategy, Inc. — Class A*,1		82		28,078
MACOM Technology Solutions Holdings, Inc.*		402		26,343
Synaptics, Inc.*		292		24,931
Evolent Health, Inc. — Class A*		814		24,664
Appfolio, Inc. — Class A*		142		24,444
Kulicke & Soffa Industries, Inc.		411		24,434
CommVault Systems, Inc.*		330		23,965
Blackbaud, Inc.*		322		22,920
Ambarella, Inc.*		270		22,591
Amkor Technology, Inc.		758		22,550
Blackline, Inc.*		417		22,443
Envestnet, Inc.*		371		22,019
Varonis Systems, Inc.*		804		21,427
Freshworks, Inc. — Class A*		1,199		21,078
Verra Mobility Corp.*		1,033		20,371
Schrodinger Incorporated/United States*		403		20,118
Rapid7, Inc.*		444		20,104
FormFactor, Inc.*		571		19,540
DigitalOcean Holdings, Inc.*		469		18,826
Progress Software Corp.		322		18,708
ACI Worldwide, Inc.*		802		18,582
MaxLinear, Inc. — Class A*		552		17,421
Verint Systems, Inc.*		468		16,408
Sprout Social, Inc. — Class A*		353		16,294
ACV Auctions, Inc. — Class A*		940		16,234
IonQ, Inc.*		1,189		16,087
C3.ai, Inc. — Class A*,1		434		15,811
NetScout Systems, Inc.*		505		15,630
Impinj, Inc.*		170		15,240
SiTime Corp.*		127		14,982

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Parsons Corp.*		305	$	14,683
Appian Corp. — Class A*		304		14,470
Cohu, Inc.*		345		14,338
Clear Secure, Inc. — Class A		617		14,296
PagerDuty, Inc.*		631		14,185
Fastly, Inc. — Class A*		877		13,830
Privia Health Group, Inc.*		500		13,055
Asana, Inc. — Class A*		588		12,960
Ultra Clean Holdings, Inc.*		329		12,653
Xerox Holdings Corp.		849		12,642
CSG Systems International, Inc.		231		12,183
Semtech Corp.*		473		12,043
Phreesia, Inc.*		378		11,722
Photronics, Inc.*		452		11,657
AvidXchange Holdings, Inc.*		1,105		11,470
Braze, Inc. — Class A*,1		255		11,166
SMART Global Holdings, Inc.*		357		10,357
Digi International, Inc.*		260		10,241
PDF Solutions, Inc.*		227		10,238
PROS Holdings, Inc.*		331		10,195
Agilysys, Inc.*		148		10,159
Jamf Holding Corp.*		517		10,092
Veradigm, Inc.*		798		10,055
Zuora, Inc. — Class A*		915		10,038
Apollo Medical Holdings, Inc.*		317		10,017
Model N, Inc.*		276		9,759
Veeco Instruments, Inc.*		376		9,656
3D Systems Corp.*		943		9,364
Yext, Inc.*		792		8,958
Cerence, Inc.*		298		8,711
Adeia, Inc.		791		8,709
Zeta Global Holdings Corp. — Class A*		993		8,480
Donnelley Financial Solutions, Inc.*		183		8,332
E2open Parent Holdings, Inc.*		1,475		8,260
Everbridge, Inc.*		301		8,097
Outset Medical, Inc.*		365		7,983
Navitas Semiconductor Corp.*		755		7,958
PowerSchool Holdings, Inc. — Class A*		415		7,943
Aehr Test Systems*,1		191		7,879
N-able, Inc.*		517		7,450
ForgeRock, Inc. — Class A*		349		7,168
EngageSmart, Inc.*		359		6,853
AvePoint, Inc.*		1,134		6,532
Digital Turbine, Inc.*		700		6,496
NextGen Healthcare, Inc.*		400		6,488
PAR Technology Corp.*		197		6,487
Avid Technology, Inc.*		252		6,426
Sapiens International Corporation N.V.		227		6,038
PubMatic, Inc. — Class A*		320		5,850
Matterport, Inc.*		1,855		5,843
Alpha & Omega Semiconductor Ltd.*		171		5,609
Amplitude, Inc. — Class A*		501		5,511
Thoughtworks Holding, Inc.*		685		5,172
Health Catalyst, Inc.*		413		5,162
Simulations Plus, Inc.		117		5,070
Integral Ad Science Holding Corp.*		279		5,016
BigCommerce Holdings, Inc.*		497		4,945
Olo, Inc. — Class A*		765		4,942
Ebix, Inc.		195		4,914
TTEC Holdings, Inc.		144		4,873
Intapp, Inc.*		116		4,862
Corsair Gaming, Inc.*		273		4,843
Alkami Technology, Inc.*		292		4,786
SoundHound AI, Inc. — Class A*		1,035		4,709
ACM Research, Inc. — Class A*		356		4,656
Vimeo, Inc.*		1,126		4,639
Pitney Bowes, Inc.		1,298		4,595
Consensus Cloud Solutions, Inc.*		147		4,557
Planet Labs PBC*		1,411		4,543
CEVA, Inc.*		172		4,395
OneSpan, Inc.*		296		4,393
Conduent, Inc.*		1,273		4,328
Cricut, Inc. — Class A		354		4,319
MeridianLink, Inc.*		194		4,035
Sharecare, Inc.*		2,280		3,990
SolarWinds Corp.*		377		3,868
Grid Dynamics Holdings, Inc.*		410		3,792
Definitive Healthcare Corp.*		334		3,674
Desktop Metal, Inc. — Class A*		2,074		3,671
Instructure Holdings, Inc.*		144		3,623
Alignment Healthcare, Inc.*		629		3,617
8x8, Inc.*		837		3,541
Mitek Systems, Inc.*		316		3,425
Vishay Precision Group, Inc.*		92		3,418
Cantaloupe, Inc.*		424		3,375
Domo, Inc. — Class B*		227		3,328
Expensify, Inc. — Class A*		408		3,256
Playstudios, Inc.*		633		3,108
Digimarc Corp.*		105		3,091
Daily Journal Corp.*		10		2,893
Weave Communications, Inc.*		243		2,700
Computer Programs and Systems, Inc.*		106		2,617
American Software, Inc. — Class A		236		2,480
Bandwidth, Inc. — Class A*		173		2,367
Inspired Entertainment, Inc.*		160		2,354
Vuzix Corp.*,1		436		2,224
SEMrush Holdings, Inc. — Class A*		232		2,220
Enfusion, Inc. — Class A*		189		2,121
LivePerson, Inc.*		469		2,120
Innodata, Inc.*		186		2,107
inTEST Corp.*		79		2,074
EverCommerce, Inc.*		173		2,048
ON24, Inc.		242		1,965
Unisys Corp.*		492		1,958
Rimini Street, Inc.*		361		1,729
IBEX Holdings Ltd.*		81		1,720
Asure Software, Inc.*		140		1,702
Red Violet, Inc.*		82		1,687
Immersion Corp.		231		1,635
Rackspace Technology, Inc.*		583		1,586
Cardlytics, Inc.*		250		1,580
PlayAGS, Inc.*		273		1,542
Outbrain, Inc.*		303		1,491
Climb Global Solutions, Inc.		31		1,484
Richardson Electronics Ltd.		88		1,452
Velo3D, Inc.*		658		1,421
Atomera, Inc.*		157		1,377
CS Disco, Inc.*		167		1,373

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
CoreCard Corp.*		54	$	1,369
Kaltura, Inc.*		614		1,302
Brightcove, Inc.*		319		1,279
HireRight Holdings Corp.*		111		1,255
SkyWater Technology, Inc.*		130		1,225
eGain Corp.*		158		1,183
NextNav, Inc.*		400		1,176
Tingo Group, Inc.*		903		1,093
System1, Inc.*		183		824
Veritone, Inc.*		194		760
Skillsoft Corp.*		592		734
Viant Technology, Inc. — Class A*		106		489
BigBear.ai Holdings, Inc.*		199		468
LiveVox Holdings, Inc.*		165		454
CXApp, Inc.*		14		153
Presto Automation, Inc.*		24		125
Total Technology				2,029,196
Energy - 4.7%
Chord Energy Corp.		310		47,678
ChampionX Corp.		1,472		45,691
Matador Resources Co.		838		43,844
Murphy Oil Corp.		1,100		42,130
Civitas Resources, Inc.		512		35,517
PBF Energy, Inc. — Class A		861		35,249
Weatherford International plc*		527		35,003
Noble Corporation plc*		796		32,883
Shoals Technologies Group, Inc. — Class A*		1,269		32,436
Denbury, Inc.*		372		32,089
Equitrans Midstream Corp.		3,232		30,898
Valaris Ltd.*		454		28,570
Magnolia Oil & Gas Corp. — Class A		1,356		28,340
SM Energy Co.		888		28,087
Helmerich & Payne, Inc.		743		26,339
Array Technologies, Inc.*		1,121		25,335
California Resources Corp.		531		24,049
CNX Resources Corp.*		1,208		21,406
Permian Resources Corp.		1,881		20,616
Kosmos Energy Ltd.*		3,377		20,228
Peabody Energy Corp.		922		19,971
Tidewater, Inc.*		351		19,459
Northern Oil and Gas, Inc.		556		19,082
Patterson-UTI Energy, Inc.		1,534		18,362
CONSOL Energy, Inc.		251		17,020
Liberty Energy, Inc. — Class A		1,265		16,913
Callon Petroleum Co.*		453		15,887
Alpha Metallurgical Resources, Inc.		96		15,779
Sitio Royalties Corp. — Class A		597		15,683
Seadrill Ltd.*		374		15,435
Arch Resources, Inc.		135		15,223
Warrior Met Coal, Inc.		383		14,918
Oceaneering International, Inc.*		743		13,894
Green Plains, Inc.*		430		13,863
Sunnova Energy International, Inc.*,1		747		13,677
NexTier Oilfield Solutions, Inc.*		1,439		12,865
Borr Drilling Ltd.*		1,692		12,741
Delek US Holdings, Inc.		492		11,783
Expro Group Holdings N.V.*		652		11,553
Talos Energy, Inc.*		827		11,471
Par Pacific Holdings, Inc.*		409		10,884
Diamond Offshore Drilling, Inc.*		753		10,723
Archrock, Inc.		1,029		10,547
NOW, Inc.*		812		8,412
Core Laboratories, Inc.		347		8,068
Comstock Resources, Inc.		680		7,888
Helix Energy Solutions Group, Inc.*		1,064		7,852
Gulfport Energy Corp.*		74		7,775
Fluence Energy, Inc.*		291		7,752
US Silica Holdings, Inc.*		558		6,769
CVR Energy, Inc.		219		6,561
FuelCell Energy, Inc.*,1		3,029		6,543
SunPower Corp. — Class A*		646		6,331
Nabors Industries Ltd.*		68		6,326
Earthstone Energy, Inc. — Class A*		422		6,030
Stem, Inc.*		1,053		6,023
ProPetro Holding Corp.*		729		6,007
Dril-Quip, Inc.*		252		5,864
Vital Energy, Inc.*		125		5,644
Tellurian, Inc.*		3,943		5,560
Maxeon Solar Technologies Ltd.*		187		5,266
Select Water Solutions, Inc. — Class A		630		5,103
Bristow Group, Inc.*		175		5,028
SunCoke Energy, Inc.		618		4,864
RPC, Inc.		629		4,497
Kinetik Holdings, Inc. — Class A		127		4,463
Vitesse Energy, Inc.		185		4,144
REX American Resources Corp.*		115		4,003
Berry Corp.		564		3,880
SilverBow Resources, Inc.*		131		3,815
Montauk Renewables, Inc.*		493		3,668
SandRidge Energy, Inc.		236		3,599
Oil States International, Inc.*		466		3,481
Eos Energy Enterprises, Inc.*		796		3,455
TPI Composites, Inc.*		310		3,215
TETRA Technologies, Inc.*		927		3,133
Vertex Energy, Inc.*		499		3,119
VAALCO Energy, Inc.		797		2,997
Crescent Energy Co. — Class A		283		2,949
Newpark Resources, Inc.*		562		2,939
W&T Offshore, Inc.*		727		2,813
Excelerate Energy, Inc. — Class A		134		2,724
Gevo, Inc.*		1,729		2,628
DMC Global, Inc.*		144		2,557
Enviva, Inc.		231		2,506
Cleanspark, Inc.*		566		2,428
Riley Exploration Permian, Inc.		65		2,322
Aris Water Solutions, Inc. — Class A		221		2,281
Eneti, Inc.		182		2,204
Atlas Energy Solutions, Inc. — Class A		120		2,083
ProFrac Holding Corp. — Class A*		179		1,998
Solaris Oilfield Infrastructure, Inc. — Class A		238		1,983
Energy Vault Holdings, Inc.*		725		1,979
Evolution Petroleum Corp.		233		1,880
Forum Energy Technologies, Inc.*		73		1,868

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
NextDecade Corp.*		227	$	1,864
Amplify Energy Corp.*		268		1,814
FutureFuel Corp.		193		1,708
Ring Energy, Inc.*		887		1,517
Hallador Energy Co.*		169		1,448
Ramaco Resources, Inc. — Class A		167		1,409
Granite Ridge Resources, Inc.		192		1,273
Ranger Energy Services, Inc.*		115		1,178
NACCO Industries, Inc. — Class A		31		1,074
KLX Energy Services Holdings, Inc.*		94		915
HighPeak Energy, Inc.		79		860
Mammoth Energy Services, Inc.*		172		831
Empire Petroleum Corp.*		75		683
PrimeEnergy Resources Corp.*		5		460
Ramaco Resources, Inc. — Class B*		33		354
Verde Clean Fuels, Inc.*		32		208
Total Energy				1,218,994
Communications - 2.5%
TEGNA, Inc.		1,658		26,926
Ziff Davis, Inc.*		348		24,381
Extreme Networks, Inc.*		933		24,305
Calix, Inc.*		436		21,761
Cogent Communications Holdings, Inc.		320		21,533
Perficient, Inc.*		254		21,166
InterDigital, Inc.		200		19,310
Viavi Solutions, Inc.*		1,654		18,740
Yelp, Inc. — Class A*		498		18,132
DigitalBridge Group, Inc.		1,197		17,608
Lumen Technologies, Inc.		7,455		16,848
Cargurus, Inc.*		724		16,384
Opendoor Technologies, Inc.*		4,037		16,229
Magnite, Inc.*		990		13,514
Harmonic, Inc.*		815		13,178
Q2 Holdings, Inc.*		421		13,009
Bumble, Inc. — Class A*		749		12,568
Credo Technology Group Holding Ltd.*		722		12,519
ePlus, Inc.*		197		11,091
Overstock.com, Inc.*		334		10,878
Squarespace, Inc. — Class A*		330		10,408
Cars.com, Inc.*		492		9,751
Liberty Latin America Ltd. — Class C*		1,064		9,172
Sprinklr, Inc. — Class A*		643		8,893
Shutterstock, Inc.		182		8,858
CommScope Holding Company, Inc.*		1,533		8,631
Upwork, Inc.*		915		8,546
Hims & Hers Health, Inc.*		904		8,498
Gogo, Inc.*		490		8,335
Scholastic Corp.		212		8,245
Figs, Inc. — Class A*		945		7,815
Open Lending Corp. — Class A*		736		7,735
A10 Networks, Inc.		522		7,616
Infinera Corp.*		1,475		7,124
Shenandoah Telecommunications Co.		359		6,975
ADTRAN Holdings, Inc.		577		6,076
Telephone & Data Systems, Inc.		732		6,024
TechTarget, Inc.*		193		6,008
Stagwell, Inc.*		800		5,768
Thryv Holdings, Inc.*		229		5,633
Globalstar, Inc.*		5,105		5,513
Eventbrite, Inc. — Class A*		572		5,463
Revolve Group, Inc.*		303		4,969
Gray Television, Inc.		612		4,823
Clearfield, Inc.*		97		4,593
HealthStream, Inc.		181		4,445
EchoStar Corp. — Class A*		249		4,318
Anterix, Inc.*		136		4,310
EW Scripps Co. — Class A*		440		4,026
Couchbase, Inc.*		251		3,971
Clear Channel Outdoor Holdings, Inc.*		2,743		3,758
Sinclair, Inc.		260		3,593
Nextdoor Holdings, Inc.*		1,076		3,508
QuinStreet, Inc.*		384		3,391
Rover Group, Inc.*		687		3,373
Boston Omaha Corp. — Class A*		171		3,218
WideOpenWest, Inc.*		380		3,207
fuboTV, Inc.*		1,505		3,130
Mondee Holdings, Inc.*,1		336		2,994
NETGEAR, Inc.*		211		2,988
IDT Corp. — Class B*		115		2,973
ATN International, Inc.		81		2,965
Liquidity Services, Inc.*		175		2,888
Preformed Line Products Co.		18		2,810
iHeartMedia, Inc. — Class A*		759		2,763
AMC Networks, Inc. — Class A*		229		2,736
Aviat Networks, Inc.*		82		2,736
Ooma, Inc.*		176		2,635
Quotient Technology, Inc.*		669		2,569
Stitch Fix, Inc. — Class A*		624		2,402
Gannett Company, Inc.*		1,067		2,401
Liberty Latin America Ltd. — Class A*		268		2,345
Luna Innovations, Inc.*		238		2,170
AST SpaceMobile, Inc.*		448		2,106
Consolidated Communications Holdings, Inc.*		549		2,103
Tucows, Inc. — Class A*		73		2,025
MediaAlpha, Inc. — Class A*		191		1,969
Entravision Communications Corp. — Class A		445		1,954
BlackSky Technology, Inc.*,1		874		1,940
Nerdy, Inc.*		438		1,826
Ribbon Communications, Inc.*		649		1,811
OptimizeRx Corp.*		123		1,758
Spok Holdings, Inc.		131		1,741
Blade Air Mobility, Inc.*		433		1,706
Grindr, Inc.*		303		1,676
CarParts.com, Inc.*		393		1,670
1-800-Flowers.com, Inc. — Class A*		193		1,505
Advantage Solutions, Inc.*		642		1,502
Vivid Seats, Inc. — Class A*		188		1,489
Cambium Networks Corp.*		90		1,370
KVH Industries, Inc.*		139		1,270
DHI Group, Inc.*		322		1,233
BARK, Inc.*		809		1,076
ContextLogic, Inc. — Class A*		163		1,073

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
Townsquare Media, Inc. — Class A		86	$	1,024
EverQuote, Inc. — Class A*		157		1,021
Terran Orbital Corp.*,1		630		945
Solo Brands, Inc. — Class A*		162		917
Allbirds, Inc. — Class A*		703		886
Lands' End, Inc.*		111		861
Gambling.com Group Ltd.*		79		809
DZS, Inc.*		161		639
Urban One, Inc.*		93		558
Urban One, Inc.*		61		365
Value Line, Inc.		6		275
Total Communications				663,278
Basic Materials - 2.5%
Commercial Metals Co.		867		45,656
ATI, Inc.*		954		42,195
Livent Corp.*		1,335		36,619
Balchem Corp.		237		31,950
HB Fuller Co.		400		28,604
Cabot Corp.		410		27,425
Avient Corp.		669		27,362
Hecla Mining Co.		4,444		22,887
Sensient Technologies Corp.		311		22,121
Arconic Corp.*		732		21,653
Rogers Corp.*		128		20,727
Quaker Chemical Corp.		103		20,075
Carpenter Technology Corp.		356		19,982
Innospec, Inc.		185		18,581
Constellium SE*		937		16,116
Ingevity Corp.*		277		16,110
Stepan Co.		158		15,098
Minerals Technologies, Inc.		241		13,903
Tronox Holdings plc — Class A		866		11,007
Sylvamo Corp.		269		10,881
Uranium Energy Corp.*		2,721		9,251
Orion S.A.		415		8,806
Compass Minerals International, Inc.		253		8,602
Kaiser Aluminum Corp.		118		8,454
Ecovyst, Inc.*		704		8,068
Piedmont Lithium, Inc.*		133		7,675
Energy Fuels, Inc.*		1,162		7,251
Novagold Resources, Inc.*		1,789		7,138
Perimeter Solutions S.A.*		1,159		7,128
AdvanSix, Inc.		196		6,856
Hawkins, Inc.		143		6,820
Coeur Mining, Inc.*		2,364		6,714
Mativ Holdings, Inc.		403		6,093
Lightwave Logic, Inc.*		848		5,911
Schnitzer Steel Industries, Inc. — Class A		191		5,728
Ivanhoe Electric Incorporated / US*		413		5,386
Koppers Holdings, Inc.		149		5,081
Diversey Holdings Ltd.*,1		582		4,883
Haynes International, Inc.		92		4,676
American Vanguard Corp.		200		3,574
Century Aluminum Co.*		389		3,392
Origin Materials, Inc.*		784		3,340
Trinseo plc		259		3,282
i-80 Gold Corp.*		1,428		3,213
United States Lime & Minerals, Inc.		15		3,133
Centrus Energy Corp. — Class A*		91		2,963
Encore Energy Corp.*		1,047		2,523
Oil-Dri Corporation of America		36		2,124
Rayonier Advanced Materials, Inc.*		472		2,020
Intrepid Potash, Inc.*		79		1,793
Amyris, Inc.*		1,624		1,673
Danimer Scientific, Inc.*		649		1,545
Kronos Worldwide, Inc.		163		1,423
Caledonia Mining Corporation plc		121		1,406
Codexis, Inc.*		493		1,380
Dakota Gold Corp.*		398		1,162
Perpetua Resources Corp.*		279		1,024
Glatfelter Corp.*		327		988
5E Advanced Materials, Inc.*		291		955
Contango ORE, Inc.*		28		713
Terawulf, Inc.*		372		651
Valhi, Inc.		18		231
PolyMet Mining Corp.*		253		200
NioCorp Developments Ltd.*		14		70
Total Basic Materials				644,251
Utilities - 2.0%
New Jersey Resources Corp.		719		33,937
Portland General Electric Co.		719		33,671
Brookfield Infrastructure Corp. — Class A		730		33,273
Ormat Technologies, Inc.		396		31,862
ONE Gas, Inc.		408		31,339
Black Hills Corp.		493		29,708
Southwest Gas Holdings, Inc.		457		29,088
PNM Resources, Inc.		634		28,593
NorthWestern Corp.		445		25,258
ALLETE, Inc.		428		24,811
Spire, Inc.		381		24,171
Otter Tail Corp.		305		24,083
American States Water Co.		274		23,838
Avista Corp.		558		21,913
California Water Service Group		415		21,426
MGE Energy, Inc.		270		21,360
SJW Group		229		16,055
Chesapeake Utilities Corp.		129		15,351
Ameresco, Inc. — Class A*		238		11,574
Northwest Natural Holding Co.		266		11,451
Middlesex Water Co.		130		10,486
Unitil Corp.		118		5,984
York Water Co.		105		4,333
Artesian Resources Corp. — Class A		62		2,928
Consolidated Water Company Ltd.		111		2,690
Altus Power, Inc.*		472		2,549
Genie Energy Ltd. — Class B		146		2,064
FTC Solar, Inc.*		470		1,513
RGC Resources, Inc.		59		1,182
Global Water Resources, Inc.		84		1,065
Total Utilities				527,556
Government - 0.0%
Banco Latinoamericano de Comercio Exterior S.A. — Class E		203		4,478
Total Common Stocks
(Cost $19,362,411)				17,723,498

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
RIGHTS††† - 0.0%
Consumer, Non-cyclical - 0.0%
Oncternal Therapeutics, Inc.*		7	$	–
Tobira Therapeutics, Inc.*		141		–
Total Consumer, Non-cyclical				–
Total Rights
(Cost $104)				–
EXCHANGE-TRADED FUNDS† - 9.1%
Vanguard Russell 2000 ETF1		15,743		1,190,486
iShares Russell 2000 Index ETF		6,356		1,190,288
Total Exchange-Traded Funds
(Cost $2,799,130)				2,380,774
	Face Amount
U.S. TREASURY BILLS†† - 0.1%
U.S. Treasury Bills
5.11% due 07/18/232,3	$	19,000		18,960
Total U.S. Treasury Bills
(Cost $18,953)				18,960
REPURCHASE AGREEMENTS††,4 - 16.1%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/235		2,271,502		2,271,502
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/235		999,346		999,346
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/235		908,497		908,497
Total Repurchase Agreements
(Cost $4,179,345)				4,179,345
		Shares
SECURITIES LENDING COLLATERAL†,6 - 1.5%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%7		399,310		399,310
Total Securities Lending Collateral
(Cost $399,310)				399,310
Total Investments - 94.9%
(Cost $26,759,253)			$	24,701,887
Other Assets & Liabilities, net - 5.1%				1,337,303
Total Net Assets - 100.0%			$	26,039,190

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
Russell 2000 Index Mini Futures Contracts		1	Sep 2023	$	95,155	$	820

Total Return Swap Agreements                          

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements††
BNP Paribas	Russell 2000 Index	Pay	5.27% (Federal Funds Rate + 0.20%)	At Maturity	09/21/23		1,102	$	2,081,548	$	42,764
Goldman Sachs International	Russell 2000 Index	Pay	5.17% (Federal Funds Rate + 0.10%)	At Maturity	09/21/23		1,606		3,033,594		28,216
Barclays Bank plc	Russell 2000 Index	Pay	5.06% (SOFR)	At Maturity	09/20/23		413		779,654		27,026
								$	5,894,796	$	98,006

^*  Non-income producing security.

^**  Includes cumulative appreciation (depreciation).

^†  Value determined based on Level 1 inputs — See Note 3.

^††  Value determined based on Level 2 inputs — See Note 3.

Russell 2000® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

^†††  Value determined based on Level 3 inputs — See Note 3.

¹  All or a portion of this security is on loan at June 30, 2023 — See Note 5.

²  All or a portion of this security is pledged as futures collateral at June 30, 2023.

³  Rate indicated is the effective yield at the time of purchase.

⁴  Repurchase Agreements — See Note 4.

⁵  All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.

⁶  Securities lending collateral — See Note 5.

⁷  Rate indicated is the 7-day yield as of June 30, 2023.

plc — Public Limited Company

REIT — Real Estate Investment Trust

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs			Total
Common Stocks	$	17,723,498	$	—	*	$	—		$	17,723,498
Rights		—		—			—	*		—
Exchange-Traded Funds		2,380,774		—			—			2,380,774
U.S. Treasury Bills		—		18,960			—			18,960
Repurchase Agreements		—		4,179,345			—			4,179,345
Securities Lending Collateral		399,310		—			—			399,310
Equity Futures Contracts**		820		—			—			820
Equity Index Swap Agreements**		—		98,006			—			98,006
Total Assets	$	20,504,402	$	4,296,311		$	—		$	24,800,713

* Security has a market value of $0.

** This derivative is reported as unrealized appreciation/depreciation at period end.

S&P 500® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 95.6%
Technology - 26.1%
Apple, Inc.		57,892	$	11,229,311
Microsoft Corp.		29,114		9,914,482
NVIDIA Corp.		9,684		4,096,526
Broadcom, Inc.		1,632		1,415,646
Adobe, Inc.*		1,796		878,226
Salesforce, Inc.*		3,833		809,760
Accenture plc — Class A		2,473		763,118
Advanced Micro Devices, Inc.*		6,305		718,202
Oracle Corp.		6,026		717,636
Texas Instruments, Inc.		3,554		639,791
Intel Corp.		16,332		546,142
QUALCOMM, Inc.		4,362		519,252
Intuit, Inc.		1,098		503,093
Applied Materials, Inc.		3,309		478,283
International Business Machines Corp.		3,555		475,695
ServiceNow, Inc.*		798		448,452
Analog Devices, Inc.		1,981		385,919
Lam Research Corp.		526		338,144
Fiserv, Inc.*		2,417		304,904
Micron Technology, Inc.		4,285		270,426
KLA Corp.		537		260,456
Synopsys, Inc.*		596		259,504
Cadence Design Systems, Inc.*		1,068		250,467
Activision Blizzard, Inc.*		2,801		236,124
NXP Semiconductor N.V.		1,017		208,160
Roper Technologies, Inc.		417		200,494
Fortinet, Inc.*		2,552		192,906
Microchip Technology, Inc.		2,145		192,171
Autodesk, Inc.*		839		171,668
ON Semiconductor Corp.*		1,691		159,935
MSCI, Inc. — Class A		313		146,888
Paychex, Inc.		1,256		140,509
Electronic Arts, Inc.		1,020		132,294
Cognizant Technology Solutions Corp. — Class A		1,987		129,711
Fidelity National Information Services, Inc.		2,320		126,904
ANSYS, Inc.*		339		111,961
HP, Inc.		3,394		104,230
Monolithic Power Systems, Inc.		176		95,080
Take-Two Interactive Software, Inc.*		621		91,386
Hewlett Packard Enterprise Co.		5,074		85,243
Fair Isaac Corp.*		98		79,303
Broadridge Financial Solutions, Inc.		462		76,521
Skyworks Solutions, Inc.		623		68,960
Tyler Technologies, Inc.*		164		68,301
Teradyne, Inc.		607		67,577
NetApp, Inc.		838		64,023
Paycom Software, Inc.		190		61,036
Zebra Technologies Corp. — Class A*		201		59,462
PTC, Inc.*		417		59,339
Akamai Technologies, Inc.*		596		53,562
EPAM Systems, Inc.*		227		51,018
Jack Henry & Associates, Inc.		285		47,689
Western Digital Corp.*		1,253		47,526
Leidos Holdings, Inc.		537		47,514
Seagate Technology Holdings plc		754		46,650
Ceridian HCM Holding, Inc.*		607		40,651
Qorvo, Inc.*		391		39,894
DXC Technology Co.*		891		23,808
Total Technology				39,751,933
Consumer, Non-cyclical - 19.3%
UnitedHealth Group, Inc.		3,645		1,751,933
Johnson & Johnson		10,175		1,684,166
Eli Lilly & Co.		3,085		1,446,803
Procter & Gamble Co.		9,229		1,400,409
Merck & Company, Inc.		9,935		1,146,400
PepsiCo, Inc.		5,394		999,077
AbbVie, Inc.		6,908		930,715
Coca-Cola Co.		15,240		917,753
Pfizer, Inc.		22,104		810,775
Thermo Fisher Scientific, Inc.		1,510		787,842
Abbott Laboratories		6,809		742,317
Danaher Corp.		2,600		624,000
Philip Morris International, Inc.		6,078		593,334
Bristol-Myers Squibb Co.		8,226		526,053
S&P Global, Inc.		1,284		514,743
Intuitive Surgical, Inc.*		1,372		469,142
Amgen, Inc.		2,092		464,466
Medtronic plc		5,209		458,913
Elevance Health, Inc.		928		412,301
Stryker Corp.		1,323		403,634
Mondelez International, Inc. — Class A		5,332		388,916
Gilead Sciences, Inc.		4,884		376,410
Automatic Data Processing, Inc.		1,618		355,620
Vertex Pharmaceuticals, Inc.*		1,008		354,725
CVS Health Corp.		5,020		347,032
Cigna Group		1,158		324,935
Altria Group, Inc.		6,989		316,602
Zoetis, Inc.		1,809		311,528
Boston Scientific Corp.*		5,629		304,473
Regeneron Pharmaceuticals, Inc.*		422		303,224
Becton Dickinson and Co.		1,112		293,579
PayPal Holdings, Inc.*		4,369		291,543
Colgate-Palmolive Co.		3,248		250,226
HCA Healthcare, Inc.		808		245,212
McKesson Corp.		531		226,902
Edwards Lifesciences Corp.*		2,374		223,939
Humana, Inc.		489		218,647
Moody's Corp.		618		214,891
Dexcom, Inc.*		1,518		195,078
Kimberly-Clark Corp.		1,321		182,377
Estee Lauder Companies, Inc. — Class A		908		178,313
General Mills, Inc.		2,300		176,410
Monster Beverage Corp.*		2,992		171,860
Cintas Corp.		338		168,013
IQVIA Holdings, Inc.*		727		163,408
IDEXX Laboratories, Inc.*		325		163,225
Biogen, Inc.*		567		161,510
Archer-Daniels-Midland Co.		2,133		161,169
Corteva, Inc.		2,783		159,466
Moderna, Inc.*		1,284		156,006

S&P 500® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 95.6% (continued)
Consumer, Non-cyclical - 19.3% (continued)
Constellation Brands, Inc. — Class A	631	$	155,308
Sysco Corp.	1,984		147,213
Centene Corp.*	2,149		144,950
Hershey Co.	577		144,077
CoStar Group, Inc.*	1,600		142,400
Verisk Analytics, Inc. — Class A	567		128,159
ResMed, Inc.	575		125,637
GE HealthCare Technologies, Inc.	1,531		124,378
AmerisourceBergen Corp. — Class A	634		122,001
Kroger Co.	2,557		120,179
United Rentals, Inc.	269		119,804
Zimmer Biomet Holdings, Inc.	817		118,955
Illumina, Inc.*	619		116,056
Equifax, Inc.	480		112,944
Quanta Services, Inc.	568		111,584
West Pharmaceutical Services, Inc.	291		111,299
Kraft Heinz Co.	3,123		110,867
Gartner, Inc.*	309		108,246
Keurig Dr Pepper, Inc.	3,298		103,128
Global Payments, Inc.	1,026		101,081
Align Technology, Inc.*	279		98,666
Church & Dwight Company, Inc.	956		95,820
Cardinal Health, Inc.	997		94,286
Baxter International, Inc.	1,981		90,254
STERIS plc	389		87,517
McCormick & Company, Inc.	982		85,660
Laboratory Corporation of America Holdings	347		83,741
Insulet Corp.*	273		78,717
Hologic, Inc.*	964		78,055
Clorox Co.	484		76,975
Cooper Companies, Inc.	194		74,385
FleetCor Technologies, Inc.*	289		72,562
Molina Healthcare, Inc.*	228		68,683
Kellogg Co.	1,007		67,872
Lamb Weston Holdings, Inc.	571		65,636
Conagra Brands, Inc.	1,867		62,955
J M Smucker Co.	418		61,726
Quest Diagnostics, Inc.	439		61,706
Waters Corp.*	231		61,571
Revvity, Inc.	491		58,326
Tyson Foods, Inc. — Class A	1,118		57,063
Bunge Ltd.	590		55,667
Avery Dennison Corp.	316		54,289
Bio-Techne Corp.	616		50,284
Molson Coors Beverage Co. — Class B	735		48,392
Brown-Forman Corp. — Class B	716		47,815
Viatris, Inc.	4,695		46,856
Hormel Foods Corp.	1,134		45,609
Incyte Corp.*	725		45,131
Teleflex, Inc.	184		44,534
Charles River Laboratories International, Inc.*	200		42,050
Henry Schein, Inc.*	513		41,604
Rollins, Inc.	907		38,847
Universal Health Services, Inc. — Class B	246		38,811
MarketAxess Holdings, Inc.	147		38,429
Campbell Soup Co.	786		35,928
Dentsply Sirona, Inc.	832		33,297
Bio-Rad Laboratories, Inc. — Class A*	84		31,846
Robert Half International, Inc.	422		31,743
Catalent, Inc.*	705		30,569
DaVita, Inc.*	217		21,802
Organon & Co.	999		20,789
Total Consumer, Non-cyclical			29,364,749
Financial - 12.9%
Berkshire Hathaway, Inc. — Class B*	6,983		2,381,203
JPMorgan Chase & Co.	11,442		1,664,125
Visa, Inc. — Class A	6,336		1,504,673
Mastercard, Inc. — Class A	3,276		1,288,451
Bank of America Corp.	27,147		778,847
Wells Fargo & Co.	14,692		627,055
Prologis, Inc. REIT	3,616		443,430
Morgan Stanley	5,101		435,625
Goldman Sachs Group, Inc.	1,302		419,947
American Express Co.	2,328		405,538
BlackRock, Inc. — Class A	586		405,008
Marsh & McLennan Companies, Inc.	1,937		364,311
American Tower Corp. — Class A REIT	1,825		353,941
Citigroup, Inc.	7,623		350,963
Charles Schwab Corp.	5,819		329,821
Chubb Ltd.	1,622		312,332
Progressive Corp.	2,292		303,392
Equinix, Inc. REIT	366		286,922
Aon plc — Class A	800		276,160
CME Group, Inc. — Class A	1,408		260,888
Intercontinental Exchange, Inc.	2,192		247,871
PNC Financial Services Group, Inc.	1,563		196,860
Crown Castle, Inc. REIT	1,698		193,470
Arthur J Gallagher & Co.	839		184,219
Public Storage REIT	620		180,966
U.S. Bancorp	5,462		180,464
Capital One Financial Corp.	1,495		163,508
American International Group, Inc.	2,834		163,068
Truist Financial Corp.	5,215		158,275
Realty Income Corp. REIT	2,636		157,606
Welltower, Inc. REIT	1,946		157,412
Travelers Companies, Inc.	904		156,989
Aflac, Inc.	2,153		150,279
Simon Property Group, Inc. REIT	1,280		147,814
MetLife, Inc.	2,519		142,399
Ameriprise Financial, Inc.	408		135,521
Digital Realty Trust, Inc. REIT	1,141		129,926
Prudential Financial, Inc.	1,429		126,066
Bank of New York Mellon Corp.	2,812		125,190
VICI Properties, Inc. REIT	3,932		123,583
Discover Financial Services	994		116,149
Allstate Corp.	1,029		112,202
Arch Capital Group Ltd.*	1,458		109,131

S&P 500® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 95.6% (continued)
Financial - 12.9% (continued)
AvalonBay Communities, Inc. REIT		556	$	105,234
T. Rowe Price Group, Inc.		879		98,466
SBA Communications Corp. REIT		424		98,266
CBRE Group, Inc. — Class A*		1,217		98,224
Willis Towers Watson plc		417		98,204
Weyerhaeuser Co. REIT		2,867		96,073
State Street Corp.		1,309		95,793
Equity Residential REIT		1,335		88,070
Hartford Financial Services Group, Inc.		1,215		87,504
M&T Bank Corp.		649		80,320
Extra Space Storage, Inc. REIT		529		78,742
Invitation Homes, Inc. REIT		2,276		78,294
Raymond James Financial, Inc.		747		77,516
Ventas, Inc. REIT		1,566		74,025
Alexandria Real Estate Equities, Inc. REIT		616		69,910
Fifth Third Bancorp		2,665		69,850
Mid-America Apartment Communities, Inc. REIT		457		69,400
Principal Financial Group, Inc.		884		67,043
Nasdaq, Inc.		1,326		66,101
Regions Financial Corp.		3,674		65,471
Iron Mountain, Inc. REIT		1,142		64,888
Brown & Brown, Inc.		922		63,471
Huntington Bancshares, Inc.		5,653		60,939
Northern Trust Corp.		816		60,498
Cincinnati Financial Corp.		616		59,949
Essex Property Trust, Inc. REIT		251		58,809
Everest Re Group Ltd.		168		57,433
Cboe Global Markets, Inc.		413		56,998
Synchrony Financial		1,678		56,918
UDR, Inc. REIT		1,212		52,068
Citizens Financial Group, Inc.		1,895		49,422
Kimco Realty Corp. REIT		2,427		47,860
Host Hotels & Resorts, Inc. REIT		2,785		46,872
W R Berkley Corp.		786		46,814
Camden Property Trust REIT		418		45,508
Loews Corp.		741		44,001
Healthpeak Properties, Inc. REIT		2,142		43,054
Globe Life, Inc.		348		38,148
Regency Centers Corp. REIT		603		37,247
KeyCorp		3,662		33,837
Boston Properties, Inc. REIT		559		32,193
Invesco Ltd.		1,794		30,157
Franklin Resources, Inc.		1,118		29,862
Federal Realty Investment Trust REIT		287		27,773
Assurant, Inc.		208		26,150
Comerica, Inc.		516		21,858
Zions Bancorp North America1		580		15,579
Lincoln National Corp.		604		15,559
Total Financial				19,637,971
Communications - 12.3%
Amazon.com, Inc.*		34,952		4,556,343
Alphabet, Inc. — Class A*		23,262		2,784,461
Meta Platforms, Inc. — Class A*		8,662		2,485,821
Alphabet, Inc. — Class C*		20,010		2,420,610
Cisco Systems, Inc.		16,037		829,754
Netflix, Inc.*		1,741		766,893
Comcast Corp. — Class A		16,286		676,683
Walt Disney Co.*		7,155		638,799
Verizon Communications, Inc.		16,461		612,185
AT&T, Inc.		27,992		446,472
Booking Holdings, Inc.*		145		391,548
T-Mobile US, Inc.*		2,255		313,220
Palo Alto Networks, Inc.*		1,185		302,779
Motorola Solutions, Inc.		657		192,685
Arista Networks, Inc.*		978		158,495
Charter Communications, Inc. — Class A*		407		149,520
Warner Bros Discovery, Inc.*		8,680		108,847
Corning, Inc.		2,996		104,980
CDW Corp.		528		96,888
eBay, Inc.		2,094		93,581
VeriSign, Inc.*		355		80,219
Omnicom Group, Inc.		781		74,312
Expedia Group, Inc.*		558		61,039
FactSet Research Systems, Inc.		150		60,098
Interpublic Group of Companies, Inc.		1,512		58,333
Match Group, Inc.*		1,090		45,616
Gen Digital, Inc.		2,227		41,311
Etsy, Inc.*		483		40,867
Juniper Networks, Inc.		1,259		39,444
Fox Corp. — Class A		1,054		35,836
F5, Inc.*		237		34,664
Paramount Global — Class B		1,985		31,581
News Corp. — Class A		1,492		29,094
Fox Corp. — Class B		535		17,061
News Corp. — Class B		460		9,071
Total Communications				18,789,110
Consumer, Cyclical - 9.1%
Tesla, Inc.*		10,549		2,761,412
Home Depot, Inc.		3,965		1,231,688
Costco Wholesale Corp.		1,736		934,628
Walmart, Inc.		5,492		863,233
McDonald's Corp.		2,859		853,154
NIKE, Inc. — Class B		4,824		532,425
Lowe's Companies, Inc.		2,335		527,010
Starbucks Corp.		4,489		444,680
TJX Companies, Inc.		4,509		382,318
Target Corp.		1,807		238,343
Ford Motor Co.		15,388		232,820
Chipotle Mexican Grill, Inc. — Class A*		108		231,012
O'Reilly Automotive, Inc.*		238		227,361
General Motors Co.		5,443		209,882
Marriott International, Inc. — Class A		1,010		185,527
AutoZone, Inc.*		72		179,522
PACCAR, Inc.		2,046		171,148
Copart, Inc.*		1,680		153,233
Yum! Brands, Inc.		1,097		151,989
Hilton Worldwide Holdings, Inc.		1,036		150,790
Ross Stores, Inc.		1,339		150,142
DR Horton, Inc.		1,215		147,853
Dollar General Corp.		858		145,671
WW Grainger, Inc.		175		138,003
Cummins, Inc.		554		135,819

S&P 500® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 95.6% (continued)
Consumer, Cyclical - 9.1% (continued)
Fastenal Co.		2,236	$	131,902
Lennar Corp. — Class A		994		124,558
Delta Air Lines, Inc.		2,517		119,658
Dollar Tree, Inc.*		814		116,809
Aptiv plc*		1,059		108,113
Tractor Supply Co.		429		94,852
Genuine Parts Co.		550		93,076
Ulta Beauty, Inc.*		196		92,237
Royal Caribbean Cruises Ltd.*		861		89,320
Southwest Airlines Co.		2,330		84,369
Walgreens Boots Alliance, Inc.		2,804		79,886
Darden Restaurants, Inc.		474		79,196
NVR, Inc.*		12		76,208
Las Vegas Sands Corp.*		1,287		74,646
Carnival Corp.*		3,933		74,058
United Airlines Holdings, Inc.*		1,284		70,453
PulteGroup, Inc.		874		67,892
Best Buy Company, Inc.		762		62,446
LKQ Corp.		994		57,920
Pool Corp.		153		57,320
MGM Resorts International		1,182		51,913
CarMax, Inc.*		619		51,810
Live Nation Entertainment, Inc.*		564		51,386
Domino's Pizza, Inc.		138		46,505
American Airlines Group, Inc.*		2,556		45,855
BorgWarner, Inc.		918		44,900
Caesars Entertainment, Inc.*		843		42,968
Wynn Resorts Ltd.		405		42,772
Tapestry, Inc.		908		38,862
Norwegian Cruise Line Holdings Ltd.*		1,661		36,160
Bath & Body Works, Inc.		896		33,600
Hasbro, Inc.		510		33,033
Whirlpool Corp.		214		31,841
Alaska Air Group, Inc.*		501		26,643
VF Corp.		1,294		24,703
Ralph Lauren Corp. — Class A		161		19,851
Advance Auto Parts, Inc.		233		16,380
Newell Brands, Inc.		1,475		12,833
Total Consumer, Cyclical				13,786,597
Industrial - 7.4%
Raytheon Technologies Corp.		5,721		560,429
Honeywell International, Inc.		2,606		540,745
United Parcel Service, Inc. — Class B		2,838		508,711
Caterpillar, Inc.		2,018		496,529
Union Pacific Corp.		2,387		488,428
General Electric Co.		4,264		468,401
Boeing Co.*		2,214		467,508
Deere & Co.		1,056		427,881
Lockheed Martin Corp.		883		406,516
Eaton Corporation plc		1,561		313,917
CSX Corp.		7,960		271,436
Illinois Tool Works, Inc.		1,083		270,923
Northrop Grumman Corp.		559		254,792
Waste Management, Inc.		1,450		251,459
FedEx Corp.		905		224,349
3M Co.		2,160		216,194
Emerson Electric Co.		2,238		202,293
Norfolk Southern Corp.		891		202,043
Amphenol Corp. — Class A		2,331		198,018
Parker-Hannifin Corp.		502		195,800
General Dynamics Corp.		881		189,547
Johnson Controls International plc		2,686		183,024
TransDigm Group, Inc.		204		182,411
TE Connectivity Ltd.		1,234		172,957
Trane Technologies plc		893		170,795
Carrier Global Corp.		3,269		162,502
Rockwell Automation, Inc.		450		148,252
AMETEK, Inc.		902		146,016
L3Harris Technologies, Inc.		742		145,261
Otis Worldwide Corp.		1,618		144,018
Agilent Technologies, Inc.		1,158		139,250
Old Dominion Freight Line, Inc.		352		130,152
Republic Services, Inc. — Class A		805		123,302
Vulcan Materials Co.		521		117,454
Keysight Technologies, Inc.*		698		116,880
Mettler-Toledo International, Inc.*		86		112,801
Martin Marietta Materials, Inc.		243		112,191
Xylem, Inc.		937		105,525
Ingersoll Rand, Inc.		1,584		103,530
Fortive Corp.		1,384		103,482
Dover Corp.		548		80,912
Westinghouse Air Brake Technologies Corp.		704		77,208
Teledyne Technologies, Inc.*		184		75,644
Expeditors International of Washington, Inc.		598		72,436
Ball Corp.		1,232		71,715
Howmet Aerospace, Inc.		1,440		71,367
IDEX Corp.		296		63,717
Garmin Ltd.		599		62,470
Snap-on, Inc.		207		59,655
Jacobs Solutions, Inc.		497		59,088
J.B. Hunt Transport Services, Inc.		325		58,835
Amcor plc		5,761		57,495
Stanley Black & Decker, Inc.		600		56,226
Axon Enterprise, Inc.*		275		53,658
Textron, Inc.		790		53,428
Nordson Corp.		211		52,366
Trimble, Inc.*		970		51,352
Masco Corp.		881		50,552
Packaging Corporation of America		352		46,520
CH Robinson Worldwide, Inc.		456		43,024
Pentair plc		646		41,732
Allegion plc		344		41,287
Generac Holdings, Inc.*		244		36,387
A O Smith Corp.		488		35,517
Huntington Ingalls Industries, Inc.		156		35,506
Westrock Co.		1,003		29,157
Sealed Air Corp.		565		22,600
Mohawk Industries, Inc.*		207		21,354
Total Industrial				11,256,930
Energy - 4.1%
Exxon Mobil Corp.		15,830		1,697,768
Chevron Corp.		6,824		1,073,756

S&P 500® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 95.6% (continued)
Energy - 4.1% (continued)
ConocoPhillips	4,738	$	490,904
Schlumberger N.V.	5,581		274,139
EOG Resources, Inc.	2,290		262,068
Marathon Petroleum Corp.	1,661		193,673
Pioneer Natural Resources Co.	915		189,570
Phillips 66	1,797		171,398
Valero Energy Corp.	1,416		166,097
Occidental Petroleum Corp.	2,813		165,404
Williams Companies, Inc.	4,770		155,645
Hess Corp.	1,082		147,098
Kinder Morgan, Inc.	7,722		132,973
Baker Hughes Co.	3,964		125,302
Devon Energy Corp.	2,513		121,478
Halliburton Co.	3,533		116,553
ONEOK, Inc.	1,752		108,133
Diamondback Energy, Inc.	709		93,134
Enphase Energy, Inc.*	537		89,937
Coterra Energy, Inc. — Class A	2,966		75,040
First Solar, Inc.*	389		73,945
Targa Resources Corp.	885		67,349
SolarEdge Technologies, Inc.*	221		59,460
Equities Corp.	1,416		58,240
Marathon Oil Corp.	2,418		55,662
APA Corp.	1,208		41,277
Total Energy			6,206,003
Utilities - 2.5%
NextEra Energy, Inc.	7,923		587,887
Southern Co.	4,270		299,968
Duke Energy Corp.	3,018		270,835
Sempra Energy	1,232		179,367
American Electric Power Company, Inc.	2,016		169,747
Dominion Energy, Inc.	3,273		169,509
Exelon Corp.	3,894		158,642
Xcel Energy, Inc.	2,155		133,976
Consolidated Edison, Inc.	1,357		122,673
Public Service Enterprise Group, Inc.	1,954		122,340
Constellation Energy Corp.	1,270		116,268
PG&E Corp.*	6,330		109,382
WEC Energy Group, Inc.	1,235		108,976
American Water Works Company, Inc.	762		108,776
Edison International	1,500		104,175
Eversource Energy	1,366		96,877
DTE Energy Co.	807		88,786
Ameren Corp.	1,028		83,957
FirstEnergy Corp.	2,131		82,853
Entergy Corp.	828		80,622
PPL Corp.	2,886		76,364
CenterPoint Energy, Inc.	2,471		72,030
CMS Energy Corp.	1,142		67,092
Atmos Energy Corp.	566		65,848
AES Corp.	2,621		54,333
Evergy, Inc.	899		52,520
Alliant Energy Corp.	984		51,640
NiSource, Inc.	1,617		44,225
Pinnacle West Capital Corp.	443		36,087
NRG Energy, Inc.	901		33,688
Total Utilities			3,749,443
Linde plc	1,917		730,530
Air Products and Chemicals, Inc.	870		260,591
Sherwin-Williams Co.	919		244,013
Freeport-McMoRan, Inc.	5,612		224,480
Ecolab, Inc.	970		181,089
Nucor Corp.	984		161,356
Dow, Inc.	2,770		147,530
PPG Industries, Inc.	922		136,733
Newmont Corp.	3,112		132,758
DuPont de Nemours, Inc.	1,797		128,378
Albemarle Corp.	459		102,398
LyondellBasell Industries N.V. — Class A	993		91,187
International Flavors & Fragrances, Inc.	999		79,510
Steel Dynamics, Inc.	629		68,517
CF Industries Holdings, Inc.	763		52,968
FMC Corp.	490		51,127
Mosaic Co.	1,300		45,500
Celanese Corp. — Class A	392		45,394
International Paper Co.	1,359		43,230
Eastman Chemical Co.	467		39,097
Total Basic Materials			2,966,386
Total Common Stocks
(Cost $104,284,982)			145,509,122

		Face Amount
U.S. TREASURY BILLS†† - 0.4%
U.S. Treasury Bills
5.10% due 08/03/232,3	$	300,000	298,679
5.00% due 08/03/232,3		200,000	199,119
5.11% due 07/18/233		69,000	68,856
Total U.S. Treasury Bills
(Cost $566,511)			566,654
REPURCHASE AGREEMENTS††,4 - 4.2%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/232		3,492,286	3,492,286
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/232		1,536,430	1,536,430
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/232		1,396,755	1,396,755
Total Repurchase Agreements
(Cost $6,425,471)			6,425,471

S&P 500® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
SECURITIES LENDING COLLATERAL†,5 - 0.0%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%6	12,180	$	12,180
Total Securities Lending Collateral
(Cost $12,180)			12,180
Total Investments - 100.2%
(Cost $111,289,144)		$	152,513,427
Other Assets & Liabilities, net - (0.2)%			(275,155	)
Total Net Assets - 100.0%		$	152,238,272

S&P 500® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

Total Return Swap Agreements

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Equity Index Swap Agreements††

Barclays Bank plc

S&P 500 Index

Pay

5.51% (SOFR + 0.45%)

At Maturity

09/20/23

499

$

2,222,904

$

60,717

Goldman Sachs International

S&P 500 Index

Pay

5.57% (Federal Funds Rate + 0.50%)

At Maturity

09/21/23

703

3,130,700

49,367

BNP Paribas

S&P 500 Index

Pay

5.67% (Federal Funds Rate + 0.60%)

At Maturity

09/21/23

305

1,359,027

21,975

$

6,712,631

$

132,059

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	All or a portion of this security is pledged as equity index swap collateral at June 30, 2023.
3	Rate indicated is the effective yield at the time of purchase.
4	Repurchase Agreements — See Note 4.
5	Securities lending collateral — See Note 5.
6	Rate indicated is the 7-day yield as of June 30, 2023.

plc — Public Limited Company

REIT — Real Estate Investment Trust

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	145,509,122	$	—	$	—	$	145,509,122
U.S. Treasury Bills		—		566,654		—		566,654
Repurchase Agreements		—		6,425,471		—		6,425,471
Securities Lending Collateral		12,180		—		—		12,180
Equity Index Swap Agreements**		—		132,059		—		132,059
Total Assets	$	145,521,302	$	7,124,184	$	—	$	152,645,486

^** This derivative is reported as unrealized appreciation/depreciation at period end.

S&P 500® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.4%
Energy - 28.7%
Targa Resources Corp.		11,207	$	852,853
Coterra Energy, Inc. — Class A		32,061		811,143
Equities Corp.		19,468		800,719
Diamondback Energy, Inc.		5,988		786,584
APA Corp.		18,517		632,726
Pioneer Natural Resources Co.		3,019		625,476
ConocoPhillips		5,864		607,569
ONEOK, Inc.		8,487		523,817
Occidental Petroleum Corp.		8,666		509,561
Hess Corp.		3,706		503,831
EOG Resources, Inc.		4,303		492,435
Marathon Oil Corp.		21,197		487,955
Exxon Mobil Corp.		4,376		469,326
Chevron Corp.		2,643		415,876
Enphase Energy, Inc.*		2,369		396,760
Devon Energy Corp.		7,933		383,481
Williams Companies, Inc.		10,713		349,565
SolarEdge Technologies, Inc.*		1,149		309,139
Total Energy				9,958,816
Consumer, Non-cyclical - 24.7%
Vertex Pharmaceuticals, Inc.*		2,381		837,897
Regeneron Pharmaceuticals, Inc.*		946		679,739
Molina Healthcare, Inc.*		1,605		483,490
Quanta Services, Inc.		2,357		463,033
Eli Lilly & Co.		972		455,848
Monster Beverage Corp.*		7,473		429,249
Elevance Health, Inc.		885		393,197
Danaher Corp.		1,481		355,440
Hologic, Inc.*		4,332		350,762
Rollins, Inc.		8,005		342,854
Insulet Corp.*		1,184		341,395
AbbVie, Inc.		2,490		335,478
Pfizer, Inc.		8,982		329,460
Merck & Company, Inc.		2,793		322,284
Incyte Corp.*		5,176		322,206
Hershey Co.		1,234		308,130
Bristol-Myers Squibb Co.		4,801		307,024
Moderna, Inc.*		2,506		304,479
UnitedHealth Group, Inc.		561		269,639
Thermo Fisher Scientific, Inc.		507		264,527
Dexcom, Inc.*		2,009		258,177
Gilead Sciences, Inc.		2,857		220,189
Amgen, Inc.		941		208,921
Total Consumer, Non-cyclical				8,583,418
Technology - 12.5%
KLA Corp.		1,314		637,316
Fortinet, Inc.*		7,350		555,587
Lam Research Corp.		792		509,145
Apple, Inc.		2,494		483,761
Monolithic Power Systems, Inc.		841		454,333
ON Semiconductor Corp.*		4,418		417,855
PTC, Inc.*		2,669		379,799
Fair Isaac Corp.*		446		360,908
Jack Henry & Associates, Inc.		1,614		270,070
QUALCOMM, Inc.		2,253		268,197
Total Technology				4,336,971
Basic Materials - 11.0%
Nucor Corp.		5,740		941,245
Steel Dynamics, Inc.		8,292		903,248
Mosaic Co.		18,552		649,320
CF Industries Holdings, Inc.		8,230		571,327
Freeport-McMoRan, Inc.		8,025		321,000
FMC Corp.		2,238		233,513
Albemarle Corp.		884		197,211
Total Basic Materials				3,816,864
Consumer, Cyclical - 8.2%
O'Reilly Automotive, Inc.*		630		601,839
AutoZone, Inc.*		220		548,539
WW Grainger, Inc.		613		483,405
Tractor Supply Co.		1,696		374,986
Dollar Tree, Inc.*		2,134		306,229
Ulta Beauty, Inc.*		598		281,416
Dollar General Corp.		1,453		246,690
Total Consumer, Cyclical				2,843,104
Industrial - 4.8%
Expeditors International of Washington, Inc.		4,773		578,154
Axon Enterprise, Inc.*		2,421		472,386
Deere & Co.		755		305,918
J.B. Hunt Transport Services, Inc.		1,677		303,587
Total Industrial				1,660,045
Financial - 4.8%
Arch Capital Group Ltd.*		6,339		474,474
Raymond James Financial, Inc.		3,222		334,347
Progressive Corp.		2,228		294,920
W R Berkley Corp.		4,950		294,822
Ameriprise Financial, Inc.		754		250,449
Total Financial				1,649,012
Communications - 2.8%
Palo Alto Networks, Inc.*		2,282		583,074
Arista Networks, Inc.*		2,504		405,798
Total Communications				988,872
Utilities - 1.9%
PG&E Corp.*		38,865		671,587
Total Common Stocks
(Cost $31,250,414)				34,508,689
		Face Amount
REPURCHASE AGREEMENTS††,1 - 0.6%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	104,363		104,363
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		45,914		45,914
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		41,740		41,740
Total Repurchase Agreements
(Cost $192,017)				192,017
Total Investments - 100.0%
(Cost $31,442,431)			$	34,700,706
Other Assets & Liabilities, net - 0.0%				(11,592	)
Total Net Assets - 100.0%			$	34,689,114

S&P 500® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Repurchase Agreements — See Note 4.

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	34,508,689	$	—	$	—	$	34,508,689
Repurchase Agreements		—		192,017		—		192,017
Total Assets	$	34,508,689	$	192,017	$	—	$	34,700,706

S&P 500® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.5%
Consumer, Cyclical - 25.7%
General Motors Co.		9,641	$	371,757
CarMax, Inc.*		4,302		360,077
PulteGroup, Inc.		4,630		359,658
Ford Motor Co.		22,990		347,839
Lennar Corp. — Class A		2,311		289,592
United Airlines Holdings, Inc.*		4,468		245,159
Walgreens Boots Alliance, Inc.		8,188		233,276
Whirlpool Corp.		1,508		224,375
Best Buy Company, Inc.		2,520		206,514
BorgWarner, Inc.		4,143		202,634
American Airlines Group, Inc.*		10,212		183,203
Alaska Air Group, Inc.*		3,327		176,930
Delta Air Lines, Inc.		3,420		162,587
Newell Brands, Inc.		15,429		134,232
Southwest Airlines Co.		1,955		70,791
Total Consumer, Cyclical				3,568,624
Financial - 20.9%
Citigroup, Inc.		6,215		286,139
Capital One Financial Corp.		2,248		245,864
Berkshire Hathaway, Inc. — Class B*		677		230,857
Invesco Ltd.		11,512		193,517
Loews Corp.		3,256		193,341
American International Group, Inc.		3,039		174,864
Assurant, Inc.		1,121		140,932
Franklin Resources, Inc.		4,821		128,769
Bank of New York Mellon Corp.		2,767		123,187
Wells Fargo & Co.		2,528		107,895
Lincoln National Corp.		4,168		107,368
Synchrony Financial		2,792		94,704
State Street Corp.		1,293		94,622
Citizens Financial Group, Inc.		3,524		91,906
Prudential Financial, Inc.		1,001		88,308
CBRE Group, Inc. — Class A*		1,062		85,714
Hartford Financial Services Group, Inc.		1,140		82,103
Goldman Sachs Group, Inc.		249		80,312
Allstate Corp.		718		78,291
Truist Financial Corp.		2,533		76,876
Bank of America Corp.		2,482		71,208
MetLife, Inc.		1,071		60,544
M&T Bank Corp.		464		57,425
Total Financial				2,894,746
Consumer, Non-cyclical - 15.7%
Viatris, Inc.		25,815		257,634
Molson Coors Beverage Co. — Class B		3,585		236,036
Kroger Co.		4,995		234,765
Tyson Foods, Inc. — Class A		4,341		221,565
AmerisourceBergen Corp. — Class A		1,112		213,982
Cardinal Health, Inc.		2,077		196,422
Centene Corp.*		2,834		191,153
Universal Health Services, Inc. — Class B		1,135		179,069
CVS Health Corp.		2,122		146,694
Kraft Heinz Co.		3,332		118,286
DaVita, Inc.*		1,058		106,297
Global Payments, Inc.		748		73,693
Total Consumer, Non-cyclical				2,175,596
Technology - 8.9%
Western Digital Corp.*		6,832		259,138
DXC Technology Co.*		9,270		247,694
Hewlett Packard Enterprise Co.		14,186		238,325
Intel Corp.		3,945		131,921
Fidelity National Information Services, Inc.		2,252		123,184
Micron Technology, Inc.		1,907		120,351
HP, Inc.		3,832		117,681
Total Technology				1,238,294
Communications - 8.5%
Paramount Global — Class B		24,229		385,483
Warner Bros Discovery, Inc.*		23,724		297,499
AT&T, Inc.		9,666		154,173
News Corp. — Class A		5,311		103,565
Verizon Communications, Inc.		2,376		88,363
Fox Corp. — Class A		2,288		77,792
Fox Corp. — Class B		1,054		33,612
News Corp. — Class B		1,645		32,439
Total Communications				1,172,926
Industrial - 7.7%
Mohawk Industries, Inc.*		3,004		309,893
FedEx Corp.		1,130		280,127
Westrock Co.		9,492		275,932
Stanley Black & Decker, Inc.		2,147		201,195
Total Industrial				1,067,147
Basic Materials - 5.8%
LyondellBasell Industries N.V. — Class A		2,182		200,373
International Paper Co.		5,499		174,923
Dow, Inc.		3,135		166,970
Eastman Chemical Co.		1,196		100,129
Celanese Corp. — Class A		767		88,819
DuPont de Nemours, Inc.		1,065		76,084
Total Basic Materials				807,298
Energy - 4.4%
Phillips 66		2,907		277,270
Valero Energy Corp.		2,198		257,825
Kinder Morgan, Inc.		4,315		74,304
Total Energy				609,399
Utilities - 1.9%
Exelon Corp.		2,508		102,176
Pinnacle West Capital Corp.		1,074		87,488
Evergy, Inc.		1,161		67,826
Total Utilities				257,490
Total Common Stocks
(Cost $11,745,236)				13,791,520

S&P 500® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

		Face Amount		Value
REPURCHASE AGREEMENTS††,1 - 0.7%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	56,267	$	56,267
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		24,754		24,754
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		22,504		22,504
Total Repurchase Agreements
(Cost $103,525)				103,525
Total Investments - 100.2%
(Cost $11,848,761)			$	13,895,045
Other Assets & Liabilities, net - (0.2)%				(32,254	)
Total Net Assets - 100.0%			$	13,862,791

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Repurchase Agreements — See Note 4.

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	13,791,520	$	—	$	—	$	13,791,520
Repurchase Agreements		—		103,525		—		103,525
Total Assets	$	13,791,520	$	103,525	$	—	$	13,895,045

S&P MidCap 400® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.4%
Consumer, Non-cyclical - 23.6%
Celsius Holdings, Inc.*		5,085	$	758,631
Shockwave Medical, Inc.*		2,515		717,806
Avis Budget Group, Inc.*		1,933		442,019
Neurocrine Biosciences, Inc.*		4,363		411,431
Grand Canyon Education, Inc.*		3,778		389,927
Lantheus Holdings, Inc.*		4,424		371,262
Halozyme Therapeutics, Inc.*		10,279		370,764
Darling Ingredients, Inc.*		5,683		362,519
Medpace Holdings, Inc.*		1,490		357,853
Inari Medical, Inc.*		5,433		315,875
Option Care Health, Inc.*		8,937		290,363
FTI Consulting, Inc.*		1,381		262,666
Jazz Pharmaceuticals plc*		1,915		237,403
Exelixis, Inc.*		11,468		219,153
WEX, Inc.*		1,179		214,661
Lancaster Colony Corp.		1,059		212,954
H&R Block, Inc.		6,452		205,625
Service Corporation International		3,011		194,481
Repligen Corp.*		1,242		175,693
Paylocity Holding Corp.*		934		172,351
United Therapeutics Corp.*		731		161,368
HealthEquity, Inc.*		2,541		160,439
Total Consumer, Non-cyclical				7,005,244
Energy - 19.2%
PBF Energy, Inc. — Class A		19,973		817,695
PDC Energy, Inc.		10,014		712,396
Range Resources Corp.		22,600		664,440
Matador Resources Co.		10,755		562,702
Southwestern Energy Co.*		86,316		518,759
CNX Resources Corp.*		28,479		504,648
Antero Resources Corp.*		21,270		489,848
Murphy Oil Corp.		10,609		406,325
DT Midstream, Inc.		8,062		399,633
Valaris Ltd.*		6,179		388,844
NOV, Inc.		14,300		229,372
Total Energy				5,694,662
Industrial - 18.2%
Builders FirstSource, Inc.*		7,472		1,016,192
Louisiana-Pacific Corp.		7,436		557,551
UFP Industries, Inc.		5,210		505,630
Landstar System, Inc.		2,283		439,569
Simpson Manufacturing Company, Inc.		2,776		384,476
Clean Harbors, Inc.*		2,305		379,011
Belden, Inc.		3,221		308,089
Valmont Industries, Inc.		1,038		302,110
EMCOR Group, Inc.		1,585		292,876
BWX Technologies, Inc.		3,893		278,622
Eagle Materials, Inc.		1,466		273,292
Silgan Holdings, Inc.		5,602		262,678
Carlisle Companies, Inc.		975		250,117
Toro Co.		1,677		170,467
Total Industrial				5,420,680
Consumer, Cyclical - 10.1%
Murphy USA, Inc.		2,068		643,376
Casey's General Stores, Inc.		1,672		407,767
Tempur Sealy International, Inc.		9,165		367,242
Wingstop, Inc.		1,561		312,450
Texas Roadhouse, Inc. — Class A		2,780		312,138
Deckers Outdoor Corp.*		582		307,098
Crocs, Inc.*		2,187		245,906
FirstCash Holdings, Inc.		2,349		219,232
Visteon Corp.*		1,247		179,082
Total Consumer, Cyclical				2,994,291
Financial - 10.0%
Kinsale Capital Group, Inc.		2,013		753,265
Annaly Capital Management, Inc. REIT		35,037		701,090
RLI Corp.		3,681		502,346
Jefferies Financial Group, Inc.		12,531		415,653
SLM Corp.		24,238		395,564
Selective Insurance Group, Inc.		2,040		195,738
Total Financial				2,963,656
Basic Materials - 6.2%
Reliance Steel & Aluminum Co.		2,163		587,449
Westlake Corp.		4,591		548,487
Olin Corp.		5,038		258,903
Cabot Corp.		3,525		235,787
MP Materials Corp.*,1		10,021		229,280
Total Basic Materials				1,859,906
Technology - 5.8%
Amkor Technology, Inc.		16,351		486,442
Cirrus Logic, Inc.*		3,793		307,271
Dropbox, Inc. — Class A*		10,493		279,848
KBR, Inc.		3,876		252,172
ExlService Holdings, Inc.*		1,612		243,509
Concentrix Corp.		2,102		169,737
Total Technology				1,738,979
Communications - 3.6%
Nexstar Media Group, Inc. — Class A		2,905		483,828
World Wrestling Entertainment, Inc. — Class A		4,068		441,256
Calix, Inc.*		3,086		154,022
Total Communications				1,079,106
Utilities - 2.7%
Essential Utilities, Inc.		7,584		302,677
ONE Gas, Inc.		3,481		267,376
OGE Energy Corp.		6,872		246,774
Total Utilities				816,827
Total Common Stocks
(Cost $24,838,128)				29,573,351
		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.5%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	76,567		76,567
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		33,685		33,685
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		30,623		30,623
Total Repurchase Agreements
(Cost $140,875)				140,875

S&P MidCap 400® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
SECURITIES LENDING COLLATERAL†,3 - 0.6%
Money Market Fund
First American Government Obligations Fund  —  Class X, 5.01%4	168,942	$	168,942
Total Securities Lending Collateral
(Cost $168,942)		$	168,942
Total Investments - 100.5%
(Cost $25,147,945)		$	29,883,168
Other Assets & Liabilities, net - (0.5)%			(159,159	)
Total Net Assets - 100.0%		$	29,724,009

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2023.

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	29,573,351	$	—	$	—	$	29,573,351
Repurchase Agreements		—		140,875		—		140,875
Securities Lending Collateral		168,942		—		—		168,942
Total Assets	$	29,742,293	$	140,875	$	—	$	29,883,168

S&P MidCap 400® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.5%
Consumer, Cyclical - 37.5%
Taylor Morrison Home Corp. — Class A*		16,690	$	813,971
KB Home		15,450		798,920
Goodyear Tire & Rubber Co.*		57,539		787,133
Lithia Motors, Inc. — Class A		1,848		561,995
Thor Industries, Inc.		5,167		534,785
JetBlue Airways Corp.*		59,415		526,417
Toll Brothers, Inc.		6,390		505,257
PVH Corp.		5,893		500,728
Kohl's Corp.		18,015		415,246
Adient plc*		8,666		332,081
Nordstrom, Inc.1		13,585		278,085
Univar Solutions, Inc.*		7,646		274,033
Foot Locker, Inc.		9,836		266,654
Macy's, Inc.		15,479		248,438
Lear Corp.		1,587		227,814
Gap, Inc.		20,940		186,994
Topgolf Callaway Brands Corp.*		8,193		162,631
Skechers USA, Inc. — Class A*		2,412		127,016
Total Consumer, Cyclical				7,548,198
Financial - 18.5%
Brighthouse Financial, Inc.*		9,897		468,623
Unum Group		6,690		319,113
Park Hotels & Resorts, Inc. REIT		24,662		316,167
New York Community Bancorp, Inc.		26,418		296,938
Jones Lang LaSalle, Inc.*		1,395		217,341
First American Financial Corp.		3,742		213,369
MGIC Investment Corp.		11,393		179,896
Old Republic International Corp.		6,735		169,520
Janus Henderson Group plc		6,183		168,487
Vornado Realty Trust REIT		8,685		157,546
Essent Group Ltd.		3,116		145,829
Cousins Properties, Inc. REIT		5,909		134,725
CNO Financial Group, Inc.		5,326		126,066
Kemper Corp.		2,528		122,001
Medical Properties Trust, Inc. REIT1		12,871		119,185
Reinsurance Group of America, Inc. — Class A		799		110,813
Starwood Property Trust, Inc. REIT		5,525		107,185
FNB Corp.		9,107		104,184
Sabra Health Care REIT, Inc.		7,611		89,582
Kilroy Realty Corp. REIT		2,915		87,712
Associated Banc-Corp.		5,098		82,741
Total Financial				3,737,023
Industrial - 16.6%
Arrow Electronics, Inc.*		3,862		553,154
Avnet, Inc.		10,726		541,127
XPO, Inc.*		8,710		513,890
Jabil, Inc.		3,747		404,414
TD SYNNEX Corp.		4,049		380,606
Ryder System, Inc.		3,566		302,361
Coherent Corp.*		3,772		192,297
Greif, Inc. — Class A		2,498		172,087
Fluor Corp.*		5,363		158,745
Vishay Intertechnology, Inc.		4,458		131,065
Total Industrial				3,349,746
Tenet Healthcare Corp.*		6,032		490,884
Syneos Health, Inc.*		7,720		325,321
Enovis Corp.*		4,846		310,725
ManpowerGroup, Inc.		3,896		309,342
Graham Holdings Co. — Class B		473		270,310
Pilgrim's Pride Corp.*		11,596		249,198
GXO Logistics, Inc.*		3,424		215,096
Patterson Companies, Inc.		6,306		209,738
Perrigo Company plc		5,585		189,611
Hertz Global Holdings, Inc.*		6,132		112,767
Post Holdings, Inc.*		1,244		107,793
Total Consumer, Non-cyclical				2,790,785
Basic Materials - 6.6%
United States Steel Corp.		22,994		575,080
Cleveland-Cliffs, Inc.*		28,484		477,392
Avient Corp.		4,569		186,872
Alcoa Corp.		2,779		94,291
Total Basic Materials				1,333,635
Technology - 4.9%
Xerox Holdings Corp.		21,594		321,535
NCR Corp.*		10,751		270,925
Kyndryl Holdings, Inc.*		17,243		228,987
MKS Instruments, Inc.		1,463		158,150
Total Technology				979,597
Utilities - 1.1%
UGI Corp.		4,200		113,274
Southwest Gas Holdings, Inc.		1,739		110,687
Total Utilities				223,961
Communications - 0.4%
Frontier Communications Parent, Inc.*		4,460		83,135
Total Common Stocks
(Cost $18,298,570)				20,046,080
		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05%   due 07/03/23	$	64,186		64,186
Barclays Capital, Inc. issued 06/30/23 at 5.06%   due 07/03/23		28,239		28,239
BofA Securities, Inc. issued 06/30/23 at 5.06%   due 07/03/23		25,671		25,671
Total Repurchase Agreements
(Cost $118,096)				118,096
		Shares
SECURITIES LENDING COLLATERAL†,3 - 1.5%
Money Market Fund
First American Government Obligations Fund — Class X, 5.01%4		296,777		296,777
Total Securities Lending Collateral
(Cost $296,777)				296,777
Total Investments - 101.6%
(Cost $18,713,443)			$	20,460,953
Other Assets & Liabilities, net - (1.6)%				(313,277	)
Total Net Assets - 100.0%			$	20,147,676

S&P MidCap 400® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

^* Non-income producing security.

^† Value determined based on Level 1 inputs — See Note 3.

^†† Value determined based on Level 2 inputs — See Note 3.

¹ All or a portion of this security is on loan at June 30, 2023 — See Note 5.

² Repurchase Agreements — See Note 4.

³ Securities lending collateral — See Note 5.

⁴ Rate indicated is the 7-day yield as of June 30, 2023.

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	20,046,080	$	—	$	—	$	20,046,080
Repurchase Agreements		—		118,096		—		118,096
Securities Lending Collateral		296,777		—		—		296,777
Total Assets	$	20,342,857	$	118,096	$	—	$	20,460,953

S&P SmallCap 600® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.9%
Consumer, Non-cyclical - 24.6%
elf Beauty, Inc.*		731	$	83,502
Vir Biotechnology, Inc.*		3,235		79,354
Amphastar Pharmaceuticals, Inc.*		1,189		68,332
Cross Country Healthcare, Inc.*		2,339		65,679
Dynavax Technologies Corp.*		4,704		60,776
iTeos Therapeutics, Inc.*		4,505		59,646
UFP Technologies, Inc.*		292		56,604
Catalyst Pharmaceuticals, Inc.*		3,926		52,765
AMN Healthcare Services, Inc.*		481		52,487
Cytokinetics, Inc.*		1,366		44,559
Ensign Group, Inc.		445		42,480
Adtalem Global Education, Inc.*		1,180		40,521
Cal-Maine Foods, Inc.		856		38,520
MGP Ingredients, Inc.		357		37,942
Simply Good Foods Co.*		1,033		37,798
Zynex, Inc.*		3,863		37,046
Innoviva, Inc.*		2,863		36,446
REGENXBIO, Inc.*		1,668		33,343
Corcept Therapeutics, Inc.*		1,467		32,641
Stride, Inc.*		824		30,677
Supernus Pharmaceuticals, Inc.*		844		25,371
Tootsie Roll Industries, Inc.		683		24,185
Hostess Brands, Inc.*		845		21,395
Arcus Biosciences, Inc.*		1,002		20,351
Medifast, Inc.		216		19,907
AdaptHealth Corp.*		1,565		19,046
Collegium Pharmaceutical, Inc.*		846		18,181
uniQure N.V.*		1,481		16,972
Xencor, Inc.*		675		16,855
Addus HomeCare Corp.*		180		16,686
Pacira BioSciences, Inc.*		371		14,866
Ligand Pharmaceuticals, Inc.*,††		107		—
Ligand Pharmaceuticals, Inc.*,††		107		—
Total Consumer, Non-cyclical				1,204,933
Industrial - 20.4%
Encore Wire Corp.		427		79,392
Matson, Inc.		924		71,823
Dorian LPG Ltd.		2,764		70,897
Boise Cascade Co.		784		70,834
Advanced Energy Industries, Inc.		593		66,090
Mueller Industries, Inc.		725		63,278
PGT Innovations, Inc.*		2,034		59,291
Comfort Systems USA, Inc.		360		59,112
AAON, Inc.		434		41,148
Marten Transport Ltd.		1,779		38,248
Forward Air Corp.		337		35,759
Fabrinet*		266		34,548
Myers Industries, Inc.		1,640		31,865
EnPro Industries, Inc.		231		30,846
Lindsay Corp.		258		30,789
Badger Meter, Inc.		194		28,627
Applied Industrial Technologies, Inc.		189		27,373
Plexus Corp.*		260		25,542
Franklin Electric Company, Inc.		243		25,005
CTS Corp.		531		22,636
NV5 Global, Inc.*		204		22,597
Hillenbrand, Inc.		440		22,563
AeroVironment, Inc.*		216		22,093
Aerojet Rocketdyne Holdings, Inc.*		343		18,820
Total Industrial				999,176
Technology - 16.4%
Axcelis Technologies, Inc.*		858		157,297
Rambus, Inc.*		1,443		92,597
DoubleVerify Holdings, Inc.*		1,696		66,008
Photronics, Inc.*		2,461		63,469
Kulicke & Soffa Industries, Inc.		957		56,894
Verra Mobility Corp.*		2,182		43,029
Alpha & Omega Semiconductor Ltd.*		1,182		38,770
Onto Innovation, Inc.*		327		38,086
Diodes, Inc.*		313		28,949
Progress Software Corp.		493		28,643
Veeco Instruments, Inc.*		1,044		26,810
SPS Commerce, Inc.*		131		25,160
Digi International, Inc.*		631		24,855
Agilysys, Inc.*		333		22,857
Privia Health Group, Inc.*		862		22,507
MaxLinear, Inc. — Class A*		572		18,052
NextGen Healthcare, Inc.*		1,036		16,804
Veradigm, Inc.*		1,286		16,204
NetScout Systems, Inc.*		510		15,785
Total Technology				802,776
Financial - 13.4%
Mr Cooper Group, Inc.*		1,448		73,327
ARMOUR Residential REIT, Inc.		12,366		65,911
StoneX Group, Inc.*		628		52,174
St. Joe Co.		953		46,068
OFG Bancorp		1,711		44,623
Piper Sandler Cos.		286		36,968
Palomar Holdings, Inc.*		633		36,739
First BanCorp		2,653		32,420
Avantax, Inc.*		1,341		30,012
BancFirst Corp.		299		27,508
Marcus & Millichap, Inc.		863		27,193
Bancorp, Inc.*		684		22,333
Hanmi Financial Corp.		1,464		21,857
City Holding Co.		242		21,778
Stellar Bancorp, Inc.		931		21,311
Preferred Bank/Los Angeles CA		366		20,126
NBT Bancorp, Inc.		574		18,282
Dime Community Bancshares, Inc.		882		15,550
ServisFirst Bancshares, Inc.		299		12,235
Banner Corp.		265		11,572
Heritage Financial Corp.		647		10,462
CVB Financial Corp.		637		8,459
Total Financial				656,908
Energy - 9.0%
Civitas Resources, Inc.		1,144		79,359
REX American Resources Corp.*		2,184		76,025
Comstock Resources, Inc.		6,519		75,612
SM Energy Co.		2,004		63,387
Northern Oil and Gas, Inc.		1,538		52,784
Vital Energy, Inc.*		1,147		51,787
CONSOL Energy, Inc.		348		23,598

S&P SmallCap 600® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.9% (continued)
Energy - 9.0% (continued)
RPC, Inc.		2,378	$	17,002
Total Energy				439,554
Consumer, Cyclical - 8.4%
Green Brick Partners, Inc.*		2,122		120,530
XPEL, Inc.*		612		51,543
Jack in the Box, Inc.		516		50,325
Cavco Industries, Inc.*		153		45,135
Monarch Casino & Resort, Inc.		623		43,890
Sun Country Airlines Holdings, Inc.*		1,668		37,497
Titan International, Inc.*		2,906		33,361
Ethan Allen Interiors, Inc.		1,012		28,619
Total Consumer, Cyclical				410,900
Communications - 3.7%
Cars.com, Inc.*		2,254		44,674
Harmonic, Inc.*		2,355		38,080
ATN International, Inc.		873		31,952
Clearfield, Inc.*		634		30,020
Extreme Networks, Inc.*		914		23,810
A10 Networks, Inc.		1,052		15,349
Total Communications				183,885
Basic Materials - 3.2%
Hawkins, Inc.		1,124		53,604
Kaiser Aluminum Corp.		485		34,745
Innospec, Inc.		236		23,704
Livent Corp.*		840		23,041
American Vanguard Corp.		1,253		22,391
Total Basic Materials				157,485
Utilities - 0.8%
Unitil Corp.		386		19,574
SJW Group		275		19,280
Total Utilities				38,854
Total Common Stocks
(Cost $3,855,873)				4,894,471
		Face Amount
REPURCHASE AGREEMENTS††,2 - 1.0%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05%   due 07/03/23	$	27,520		27,520
Barclays Capital, Inc. issued 06/30/23 at 5.06%   due 07/03/23		12,107		12,107
BofA Securities, Inc. issued 06/30/23 at 5.06%   due 07/03/23		11,007		11,007
Total Repurchase Agreements
(Cost $50,634)				50,634
		Shares
SECURITIES LENDING COLLATERAL†,3 - 0.3%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4		15,279		15,279
Total Securities Lending Collateral
(Cost $15,279)				15,279
Total Investments - 101.2%
(Cost $3,921,786)			$	4,960,384
Other Assets & Liabilities, net - (1.2)%				(59,990	)
Total Net Assets - 100.0%			$	4,900,394

^* Non-income producing security.

^† Value determined based on Level 1 inputs, unless otherwise noted — See Note 3.

^†† Value determined based on Level 2 inputs — See Note 3.

¹ All or a portion of this security is on loan at June 30, 2023 — See Note 5.

² Repurchase Agreements — See Note 4.

³ Securities lending collateral — See Note 5.

⁴ Rate indicated is the 7-day yield as of June 30, 2023.

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section. 

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	4,894,471	$	—	*	$	—	$	4,894,471
Repurchase Agreements		—		50,634			—		50,634
Securities Lending Collateral		15,279		—			—		15,279
Total Assets	$	4,909,750	$	50,634		$	—	$	4,960,384

^* Security has a market value of $0.

S&P SmallCap 600® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.8%
Consumer, Cyclical - 37.5%
SkyWest, Inc.*		5,213	$	212,273
M/I Homes, Inc.*		2,112		184,145
G-III Apparel Group Ltd.*		6,657		128,280
Tri Pointe Homes, Inc.*		3,810		125,197
Century Communities, Inc.		1,630		124,891
MDC Holdings, Inc.		2,228		104,204
America's Car-Mart, Inc.*		968		96,587
Meritage Homes Corp.		622		88,492
Patrick Industries, Inc.		1,038		83,040
Group 1 Automotive, Inc.		317		81,818
Abercrombie & Fitch Co. — Class A*		2,120		79,882
Wolverine World Wide, Inc.		5,240		76,975
MarineMax, Inc.*		2,213		75,596
Dana, Inc.		4,207		71,519
ScanSource, Inc.*		2,336		69,052
Resideo Technologies, Inc.*		3,869		68,327
ODP Corp.*		1,099		51,455
Sonic Automotive, Inc. — Class A		997		47,527
GMS, Inc.*		660		45,672
La-Z-Boy, Inc.		1,500		42,960
Caleres, Inc.		1,790		42,835
Veritiv Corp.		305		38,311
Allegiant Travel Co. — Class A*		288		36,369
Hanesbrands, Inc.		7,772		35,285
Designer Brands, Inc. — Class A		3,443		34,774
MillerKnoll, Inc.		2,218		32,782
Sally Beauty Holdings, Inc.*		2,651		32,740
Urban Outfitters, Inc.*		976		32,335
American Axle & Manufacturing Holdings, Inc.*		3,869		31,997
Signet Jewelers Ltd.		460		30,020
Shoe Carnival, Inc.		1,240		29,115
OPENLANE, Inc.*		1,882		28,644
Chico's FAS, Inc.*		4,663		24,947
LGI Homes, Inc.*		177		23,875
PC Connection, Inc.		521		23,497
Standard Motor Products, Inc.		618		23,187
Sleep Number Corp.*		802		21,879
Guess?, Inc.		1,103		21,453
HNI Corp.		737		20,769
American Eagle Outfitters, Inc.		1,757		20,733
Interface, Inc. — Class A		2,246		19,742
Marcus Corp.		1,276		18,923
Hawaiian Holdings, Inc.*		1,420		15,293
El Pollo Loco Holdings, Inc.		1,507		13,216
Total Consumer, Cyclical				2,510,613
Financial - 15.9%
Genworth Financial, Inc. — Class A*		18,720		93,600
Anywhere Real Estate, Inc.*		13,095		87,475
Stewart Information Services Corp.		1,806		74,299
Navient Corp.		3,185		59,177
World Acceptance Corp.*		416		55,748
Universal Insurance Holdings, Inc.		3,391		52,323
SiriusPoint Ltd.*		5,162		46,613
EZCORP, Inc. — Class A*		5,473		45,864
Radian Group, Inc.		1,679		42,445
Pebblebrook Hotel Trust REIT		2,881		40,161
Cushman & Wakefield plc*		4,424		36,188
SL Green Realty Corp. REIT1		1,178		35,399
Bread Financial Holdings, Inc.		1,094		34,341
RE/MAX Holdings, Inc. — Class A		1,781		34,302
Encore Capital Group, Inc.*		603		29,318
Ambac Financial Group, Inc.*		1,903		27,099
Apollo Commercial Real Estate Finance, Inc. REIT		2,285		25,866
JBG SMITH Properties REIT		1,598		24,034
Enova International, Inc.*		440		23,373
Service Properties Trust REIT		2,641		22,950
PacWest Bancorp1		2,764		22,527
Office Properties Income Trust REIT		2,706		20,836
Brandywine Realty Trust REIT		4,243		19,730
United Fire Group, Inc.		849		19,238
Hilltop Holdings, Inc.		608		19,128
Ready Capital Corp. REIT		1,553		17,518
ProAssurance Corp.		1,066		16,086
Hudson Pacific Properties, Inc. REIT		3,419		14,428
Hope Bancorp, Inc.		1,603		13,497
Orion Office REIT, Inc.		1,775		11,733
Total Financial				1,065,296
Consumer, Non-cyclical - 14.7%
Aaron's Company, Inc.		7,448		105,315
Kelly Services, Inc. — Class A		5,733		100,958
Fresh Del Monte Produce, Inc.		3,092		79,495
PROG Holdings, Inc.*		2,053		65,942
Enhabit, Inc.*		5,632		64,768
Upbound Group, Inc.		1,600		49,808
TrueBlue, Inc.*		2,720		48,171
Deluxe Corp.		2,681		46,864
Owens & Minor, Inc.*		2,400		45,696
Emergent BioSolutions, Inc.*		6,202		45,585
B&G Foods, Inc.1		3,081		42,888
SpartanNash Co.		1,585		35,678
Seneca Foods Corp. — Class A*		1,028		33,595
Universal Corp.		623		31,113
ABM Industries, Inc.		717		30,580
Heidrick & Struggles International, Inc.		1,079		28,561
United Natural Foods, Inc.*		1,324		25,884
GEO Group, Inc.*		3,321		23,778
Phibro Animal Health Corp. — Class A		1,605		21,989
CoreCivic, Inc.*		2,307		21,709
Green Dot Corp. — Class A*		1,101		20,633
Orthofix Medical, Inc.*		869		15,694
Total Consumer, Non-cyclical				984,704
Industrial - 13.0%
Olympic Steel, Inc.		2,501		122,549
Enviri Corp.*		7,534		74,360
DXP Enterprises, Inc.*		1,904		69,325
Greenbrier Companies, Inc.		1,447		62,366
American Woodmark Corp.*		790		60,332
World Kinect Corp.		2,615		54,078
Benchmark Electronics, Inc.		2,043		52,771

S&P SmallCap 600® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.8% (continued)
Industrial - 13.0% (continued)
RXO, Inc.*		2,253	$	51,076
ArcBest Corp.		503		49,696
Powell Industries, Inc.		814		49,320
Clearwater Paper Corp.*		1,565		49,016
Kaman Corp.		1,803		43,867
Proto Labs, Inc.*		994		34,750
TTM Technologies, Inc.*		1,971		27,397
Ichor Holdings Ltd.*		706		26,475
AZZ, Inc.		512		22,252
Granite Construction, Inc.		525		20,884
Total Industrial				870,514
Communications - 7.5%
Lumen Technologies, Inc.		41,299		93,335
DISH Network Corp. — Class A*		13,857		91,318
Telephone & Data Systems, Inc.		8,644		71,140
AMC Networks, Inc. — Class A*		4,243		50,704
Consolidated Communications Holdings, Inc.*		11,318		43,348
EW Scripps Co. — Class A*		4,509		41,257
Viasat, Inc.*		976		40,270
Thryv Holdings, Inc.*		1,417		34,858
NETGEAR, Inc.*		1,487		21,056
Scholastic Corp.		438		17,034
Total Communications				504,320
Basic Materials - 4.5%
Arconic Corp.*		2,419		71,554
Century Aluminum Co.*		6,705		58,467
Koppers Holdings, Inc.		1,663		56,709
Mativ Holdings, Inc.		2,934		44,362
Trinseo plc		2,182		27,646
AdvanSix, Inc.		642		22,457
Minerals Technologies, Inc.		280		16,153
Total Basic Materials				297,348
Energy - 3.5%
Oil States International, Inc.*		7,825		58,453
Par Pacific Holdings, Inc.*		1,973		52,502
SunCoke Energy, Inc.		6,337		49,872
Bristow Group, Inc.*		1,476		42,405
Helix Energy Solutions Group, Inc.*		4,353		32,125
Total Energy				235,357
Technology - 3.2%
Ebix, Inc.		2,439		61,463
Insight Enterprises, Inc.*		396		57,951
SMART Global Holdings, Inc.*		1,408		40,846
Cerence, Inc.*		1,172		34,257
Pitney Bowes, Inc.		6,196		21,934
Total Technology				216,451
Total Common Stocks
(Cost $5,464,695)				6,684,603
		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05%   due 07/03/23	$	22,116		22,116
Barclays Capital, Inc. issued 06/30/23 at 5.06%   due 07/03/23		9,730		9,730
BofA Securities, Inc. issued 06/30/23 at 5.06%   due 07/03/23		8,845		8,845
Total Repurchase Agreements
(Cost $40,691)				40,691
		Shares
SECURITIES LENDING COLLATERAL†,3 - 1.1%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4		76,450		76,450
Total Securities Lending Collateral
(Cost $76,450)				76,450
Total Investments - 101.5%
(Cost $5,581,836)			$	6,801,744
Other Assets & Liabilities, net - (1.5)%				(98,486	)
Total Net Assets - 100.0%			$	6,703,258

^* Non-income producing security.

^† Value determined based on Level 1 inputs — See Note 3.

^†† Value determined based on Level 2 inputs — See Note 3.

¹ All or a portion of this security is on loan at June 30, 2023 — See Note 5.

² Repurchase Agreements — See Note 4.

³ Securities lending collateral — See Note 5.

⁴ Rate indicated is the 7-day yield as of June 30, 2023.

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

S&P SmallCap 600® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	6,684,603	$	—	$	—	$	6,684,603
Repurchase Agreements		—		40,691		—		40,691
Securities Lending Collateral		76,450		—		—		76,450
Total Assets	$	6,761,053	$	40,691	$	—	$	6,801,744

Strengthening Dollar 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Face Amount		Value
U.S. TREASURY BILLS†† - 4.0%
U.S. Treasury Bills
5.11% due 07/18/231,2	$	277,000	$	276,420
Total U.S. Treasury Bills
(Cost $276,320)				276,420
REPURCHASE AGREEMENTS††,3 - 99.0%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/234		3,692,931		3,692,931
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/234		1,624,704		1,624,704
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/234		1,477,003		1,477,003
Total Repurchase Agreements
(Cost $6,794,638)				6,794,638
Total Investments - 103.0%
(Cost $7,070,958)			$	7,071,058
Other Assets & Liabilities, net - (3.0)%				(206,370	)
Total Net Assets - 100.0%			$	6,864,688

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Currency Futures Contracts Purchased†
U.S. Dollar Index Futures Contracts		89	Sep 2023	$	9,128,730	$	(50,983	)

Total Return Swap Agreements

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Depreciation

OTC Currency Index Swap Agreements††

Goldman Sachs International

U.S. Dollar Index

Receive

N/A

At Maturity

09/22/23

44,594

$

4,573,488

$

(18,954

)

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is pledged as futures collateral at June 30, 2023.
2	Rate indicated is the effective yield at the time of purchase.
3	Repurchase Agreements — See Note 4.
4	All or a portion of this security is pledged as currency index swap collateral at June 30, 2023.

See Sector Classification in Other Information section.

Strengthening Dollar 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
U.S. Treasury Bills	$	—	$	276,420	$	—	$	276,420
Repurchase Agreements		—		6,794,638		—		6,794,638
Total Assets	$	—	$	7,071,058	$	—	$	7,071,058

Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Currency Futures Contracts**	$	50,983	$	—	$	—	$	50,983
Currency Index Swap Agreements**		—		18,954		—		18,954
Total Liabilities	$	50,983	$	18,954	$	—	$	69,937

^** This derivative is reported as unrealized appreciation/depreciation at period end.

Technology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.5%
Software - 31.3%
Microsoft Corp.		8,274	$	2,817,628
Adobe, Inc.*		1,764		862,578
Oracle Corp.		6,563		781,588
Salesforce, Inc.*		3,648		770,676
Intuit, Inc.		1,389		636,426
ServiceNow, Inc.*		1,059		595,126
Synopsys, Inc.*		1,019		443,683
Activision Blizzard, Inc.*		5,240		441,732
Cadence Design Systems, Inc.*		1,879		440,663
Workday, Inc. — Class A*		1,923		434,386
Roper Technologies, Inc.		842		404,834
Atlassian Corp. — Class A*		2,329		390,830
Snowflake, Inc. — Class A*		2,161		380,293
Autodesk, Inc.*		1,786		365,433
NetEase, Inc. ADR		3,506		338,995
Electronic Arts, Inc.		2,518		326,585
MongoDB, Inc.*		737		302,900
ANSYS, Inc.*		904		298,564
Datadog, Inc. — Class A*		2,990		294,156
Palantir Technologies, Inc. — Class A*		19,142		293,447
Take-Two Interactive Software, Inc.*		1,945		286,226
Cloudflare, Inc. — Class A*		3,806		248,798
Zoom Video Communications, Inc. — Class A*		3,489		236,833
Splunk, Inc.*		2,201		233,504
ROBLOX Corp. — Class A*		5,526		222,698
PTC, Inc.*		1,557		221,561
HubSpot, Inc.*		410		218,157
Akamai Technologies, Inc.*		2,227		200,141
Unity Software, Inc.*		4,543		197,257
BILL Holdings, Inc.*		1,614		188,596
Twilio, Inc. — Class A*		2,924		186,025
DocuSign, Inc.*		3,189		162,926
ZoomInfo Technologies, Inc. — Class A*		6,334		160,820
Five9, Inc.*		1,685		138,928
Total Software				14,522,993
Semiconductors - 28.0%
NVIDIA Corp.		4,331		1,832,100
Broadcom, Inc.		1,222		1,059,999
Texas Instruments, Inc.		3,983		717,020
Advanced Micro Devices, Inc.*		6,263		713,418
Intel Corp.		20,130		673,147
QUALCOMM, Inc.		5,381		640,554
Applied Materials, Inc.		4,287		619,643
Analog Devices, Inc.		2,876		560,273
Lam Research Corp.		807		518,788
NXP Semiconductor N.V.		2,523		516,408
ASML Holding N.V. — Class G		644		466,739
KLA Corp.		931		451,554
Micron Technology, Inc.		7,097		447,892
Taiwan Semiconductor Manufacturing Company Ltd. ADR		4,415		445,562
Microchip Technology, Inc.		4,472		400,646
Marvell Technology, Inc.		6,514		389,407
ON Semiconductor Corp.*		3,784		357,891
STMicroelectronics N.V. — Class Y		7,008		350,330
Skyworks Solutions, Inc.		2,130		235,770
Teradyne, Inc.		2,099		233,682
Entegris, Inc.		1,998		221,418
Lattice Semiconductor Corp.*		2,227		213,948
Monolithic Power Systems, Inc.		348		188,000
Qorvo, Inc.*		1,725		176,002
Wolfspeed, Inc.*		2,673		148,592
MKS Instruments, Inc.		1,363		147,340
GLOBALFOUNDRIES, Inc.*,1		2,042		131,872
Silicon Laboratories, Inc.*		644		101,585
Total Semiconductors				12,959,580
Computers - 15.8%
Apple, Inc.		15,829		3,070,351
International Business Machines Corp.		4,516		604,286
Fortinet, Inc.*		5,324		402,441
Accenture plc — Class A		1,266		390,662
Infosys Ltd. ADR		21,704		348,783
Check Point Software Technologies Ltd.*		2,699		339,048
Cognizant Technology Solutions Corp. — Class A		4,918		321,047
Crowdstrike Holdings, Inc. — Class A*		2,135		313,568
HP, Inc.		9,253		284,160
Hewlett Packard Enterprise Co.		15,618		262,383
NetApp, Inc.		3,012		230,117
Seagate Technology Holdings plc		3,092		191,302
Zscaler, Inc.*		1,306		191,068
Western Digital Corp.*		4,838		183,505
Pure Storage, Inc. — Class A*		4,971		183,032
Total Computers				7,315,753
Internet - 15.0%
Alphabet, Inc. — Class A*		17,580		2,104,326
Meta Platforms, Inc. — Class A*		5,310		1,523,864
Palo Alto Networks, Inc.*		2,024		517,152
Shopify, Inc. — Class A*		6,550		423,130
Baidu, Inc. ADR*		2,739		374,996
Sea Ltd. ADR*		5,346		310,282
CDW Corp.		1,539		282,406
Pinterest, Inc. — Class A*		9,205		251,665
VeriSign, Inc.*		1,107		250,149
Snap, Inc. — Class A*		18,758		222,095
Match Group, Inc.*		4,613		193,054
Gen Digital, Inc.		9,646		178,933
Okta, Inc.*		2,571		178,299
F5, Inc.*		1,111		162,495
Total Internet				6,972,846
Telecommunications - 3.9%
Cisco Systems, Inc.		15,014		776,824
Motorola Solutions, Inc.		1,345		394,462
Arista Networks, Inc.*		2,082		337,409
Corning, Inc.		8,512		298,260
Total Telecommunications				1,806,955
Electronics - 3.2%
Amphenol Corp. — Class A		4,759		404,277
TE Connectivity Ltd.		2,717		380,815

Technology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.5% (continued)
Electronics - 3.2% (continued)
Keysight Technologies, Inc.*		1,813	$	303,587
Trimble, Inc.*		3,820		202,231
Flex Ltd.*		7,057		195,055
Total Electronics				1,485,965
Energy-Alternate Sources - 1.6%
SolarEdge Technologies, Inc.*		1,010		271,740
Enphase Energy, Inc.*		1,491		249,713
First Solar, Inc.*		1,266		240,654
Total Energy-Alternate Sources				762,107
Office & Business Equipment - 0.4%
Zebra Technologies Corp. — Class A*		609		180,160
Commercial Services - 0.3%
Paylocity Holding Corp.*		635		117,177
Total Common Stocks
(Cost $25,280,310)				46,123,536
	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	148,009		148,009
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		65,116		65,116
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		59,197		59,197
Total Repurchase Agreements
(Cost $272,322)				272,322
	Shares
SECURITIES LENDING COLLATERAL†,3 - 0.2%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4		87,656		87,656
Total Securities Lending Collateral
(Cost $87,656)				87,656
Total Investments - 100.3%
(Cost $25,640,288)			$	46,483,514
Other Assets & Liabilities, net - (0.3)%				(128,509	)
Total Net Assets - 100.0%			$	46,355,005

^*  Non-income producing security.

^†  Value determined based on Level 1 inputs — See Note 3.

^††  Value determined based on Level 2 inputs — See Note 3.

¹  All or a portion of this security is on loan at June 30, 2023 — See Note 5.

²  Repurchase Agreements — See Note 4.

³  Securities lending collateral — See Note 5.

⁴  Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	46,123,536	$	—	$	—	$	46,123,536
Repurchase Agreements		—		272,322		—		272,322
Securities Lending Collateral		87,656		—		—		87,656
Total Assets	$	46,211,192	$	272,322	$	—	$	46,483,514

Telecommunications Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.4%
Telecommunications - 70.6%
Cisco Systems, Inc.		4,826	$	249,697
Verizon Communications, Inc.		5,875		218,491
AT&T, Inc.		11,851		189,024
T-Mobile US, Inc.*		1,180		163,902
Motorola Solutions, Inc.		385		112,913
Arista Networks, Inc.*		616		99,829
Juniper Networks, Inc.		2,019		63,255
Iridium Communications, Inc.		817		50,752
Ciena Corp.*		1,145		48,651
Frontier Communications Parent, Inc.*		2,417		45,053
Vodafone Group plc ADR		4,767		45,048
Telefonaktiebolaget LM Ericsson ADR		7,941		43,278
BCE, Inc.		918		41,852
Viasat, Inc.*		995		41,054
TELUS Corp.		2,066		40,204
Nice Ltd. ADR*		193		39,855
America Movil SAB de CV ADR		1,755		37,978
Extreme Networks, Inc.*		1,442		37,564
Nokia Oyj ADR		8,337		34,682
Viavi Solutions, Inc.*		2,939		33,299
Calix, Inc.*		659		32,891
InterDigital, Inc.		336		32,441
Harmonic, Inc.*		1,518		24,546
Gogo, Inc.*		1,188		20,208
CommScope Holding Company, Inc.*		3,527		19,857
Telephone & Data Systems, Inc.		2,314		19,044
Infinera Corp.*		3,769		18,204
ADTRAN Holdings, Inc.		1,687		17,764
Lumen Technologies, Inc.		5,496		12,421
Clearfield, Inc.*		197		9,328
Total Telecommunications				1,843,085
Media - 19.5%
Comcast Corp. — Class A		5,652		234,840
Charter Communications, Inc. — Class A*		297		109,109
Liberty Broadband Corp. — Class C*		825		66,091
Liberty Global plc — Class C*		2,412		42,861
DISH Network Corp. — Class A*		4,803		31,652
Liberty Latin America Ltd. — Class C*		2,851		24,576
Total Media				509,129
Internet - 5.7%
F5, Inc.*		396		57,919
Roku, Inc.*		883		56,477
Cogent Communications Holdings, Inc.		516		34,721
Total Internet				149,117
Computers - 2.7%
Lumentum Holdings, Inc.*		709		40,222
NetScout Systems, Inc.*		932		28,845
Total Computers				69,067
Real Estate - 0.9%
Radius Global Infrastructure, Inc. — Class A*		1,516		22,588
Total Common Stocks
(Cost $2,341,658)				2,592,986
		Face Amount
REPURCHASE AGREEMENTS††,1 - 0.4%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	6,141		6,141
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		2,702		2,702
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		2,456		2,456
Total Repurchase Agreements
(Cost $11,299)				11,299
Total Investments - 99.8%
(Cost $2,352,957)			$	2,604,285
Other Assets & Liabilities, net - 0.2%				5,540
Total Net Assets - 100.0%			$	2,609,825

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Repurchase Agreements — See Note 4.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

Telecommunications Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	2,592,986	$	—	$	—	$	2,592,986
Repurchase Agreements		—		11,299		—		11,299
Total Assets	$	2,592,986	$	11,299	$	—	$	2,604,285

Transportation Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.4%
Transportation - 38.7%
United Parcel Service, Inc. — Class B		5,488	$	983,724
Union Pacific Corp.		4,217		862,883
CSX Corp.		19,270		657,107
FedEx Corp.		2,473		613,057
Norfolk Southern Corp.		2,498		566,446
Old Dominion Freight Line, Inc.		1,358		502,120
Expeditors International of Washington, Inc.		2,791		338,074
J.B. Hunt Transport Services, Inc.		1,685		305,036
Canadian National Railway Co.		2,291		277,371
Canadian Pacific Kansas City Ltd.		3,395		274,214
CH Robinson Worldwide, Inc.		2,729		257,481
ZTO Express Cayman, Inc. ADR		9,143		229,306
Knight-Swift Transportation Holdings, Inc.		4,027		223,740
ZIM Integrated Shipping Services Ltd.1		18,035		223,454
XPO, Inc.*		3,651		215,409
Landstar System, Inc.		1,061		204,285
Saia, Inc.*		4		203,392
Ryder System, Inc.		1,765		149,654
Hub Group, Inc. — Class A*		1,563		125,540
Werner Enterprises, Inc.		2,722		120,258
Forward Air Corp.		972		103,139
Total Transportation				7,435,690
Auto Manufacturers - 26.9%
Tesla, Inc.*		8,307		2,174,523
Ford Motor Co.		41,984		635,218
General Motors Co.		14,981		577,667
NIO, Inc. ADR*		36,756		356,166
Li Auto, Inc. ADR*		8,496		298,210
Rivian Automotive, Inc. — Class A*		17,436		290,484
Ferrari N.V.		841		273,502
Stellantis N.V.		15,375		269,677
Lucid Group, Inc.*,1		27,585		190,061
Fisker, Inc.*,1		18,319		103,319
Total Auto Manufacturers				5,168,827
Auto Parts & Equipment - 12.1%
Aptiv plc*		2,745		280,237
BorgWarner, Inc.		5,484		268,222
Magna International, Inc.		4,718		266,284
Autoliv, Inc.		2,841		241,599
Lear Corp.		1,611		231,259
Gentex Corp.		7,107		207,951
Goodyear Tire & Rubber Co.*		11,157		152,628
Adient plc*		3,872		148,375
Visteon Corp.*		962		138,153
Fox Factory Holding Corp.*		1,269		137,699
QuantumScape Corp.*,1		16,401		131,044
Luminar Technologies, Inc.*,1		16,792		115,529
Total Auto Parts & Equipment				2,318,980
Airlines - 11.2%
Delta Air Lines, Inc.		9,838		467,699
Southwest Airlines Co.		10,680		386,723
United Airlines Holdings, Inc.*		6,190		339,645
American Airlines Group, Inc.*		15,615		280,133
Ryanair Holdings plc ADR*		2,267		250,730
Alaska Air Group, Inc.*		3,932		209,104
JetBlue Airways Corp.*		16,049		142,194
Allegiant Travel Co. — Class A*		668		84,355
Total Airlines				2,160,583
Internet - 5.6%
Uber Technologies, Inc.*		16,830		726,551
Grab Holdings Ltd. — Class A*		64,540		221,373
Lyft, Inc. — Class A*		13,468		129,158
Total Internet				1,077,082
Commercial Services - 2.6%
GXO Logistics, Inc.*		3,321		208,625
Avis Budget Group, Inc.*		777		177,677
Hertz Global Holdings, Inc.*		6,588		121,153
Total Commercial Services				507,455
Home Builders - 1.5%
Thor Industries, Inc.		1,749		181,021
Winnebago Industries, Inc.		1,646		109,772
Total Home Builders				290,793
Leisure Time - 0.8%
Harley-Davidson, Inc.		4,698		165,416
Total Common Stocks
(Cost $12,851,912)				19,124,826
		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.6%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	58,937		58,937
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		25,930		25,930
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		23,572		23,572
Total Repurchase Agreements
(Cost $108,439)				108,439
		Shares
SECURITIES LENDING COLLATERAL†,3 - 2.8%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4		533,500		533,500
Total Securities Lending Collateral
(Cost $533,500)				533,500
Total Investments - 102.8%
(Cost $13,493,851)			$	19,766,765
Other Assets & Liabilities, net - (2.8)%				(546,324	)
Total Net Assets - 100.0%			$	19,220,441

Transportation Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at June 30, 2023 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of June 30, 2023.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	19,124,826	$	—	$	—	$	19,124,826
Repurchase Agreements		—		108,439		—		108,439
Securities Lending Collateral		533,500		—		—		533,500
Total Assets	$	19,658,326	$	108,439	$	—	$	19,766,765

Utilities Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Shares		Value
COMMON STOCKS† - 99.6%
Electric - 85.8%
NextEra Energy, Inc.		16,475	$	1,222,445
Southern Co.		12,486		877,142
Duke Energy Corp.		9,217		827,134
Sempra Energy		4,614		671,752
American Electric Power Company, Inc.		7,822		658,612
Dominion Energy, Inc.		12,635		654,367
Exelon Corp.		15,764		642,225
Xcel Energy, Inc.		9,276		576,689
PG&E Corp.*		33,181		573,368
Public Service Enterprise Group, Inc.		8,965		561,299
Consolidated Edison, Inc.		6,096		551,078
Constellation Energy Corp.		5,933		543,166
WEC Energy Group, Inc.		5,933		523,528
Edison International		7,518		522,125
Eversource Energy		6,998		496,298
FirstEnergy Corp.		11,908		462,983
Ameren Corp.		5,616		458,659
Entergy Corp.		4,593		447,220
DTE Energy Co.		4,046		445,141
PPL Corp.		16,549		437,887
CenterPoint Energy, Inc.		14,801		431,449
CMS Energy Corp.		6,917		406,374
AES Corp.		18,032		373,803
Alliant Energy Corp.		6,869		360,485
Evergy, Inc.		6,142		358,816
Fortis, Inc.		8,246		355,320
Algonquin Power & Utilities Corp.1		42,048		347,316
Vistra Corp.		12,192		320,040
NRG Energy, Inc.		8,194		306,374
Pinnacle West Capital Corp.		3,756		305,964
OGE Energy Corp.		7,429		266,775
Portland General Electric Co.		4,400		206,052
PNM Resources, Inc.		4,275		192,802
Black Hills Corp.		3,035		182,889
Avista Corp.		4,235		166,308
Ormat Technologies, Inc.		2,034		163,656
Avangrid, Inc.		4,301		162,062
NorthWestern Corp.		2,594		147,235
Total Electric				17,206,838
Gas - 7.9%
Atmos Energy Corp.		3,508		408,121
NiSource, Inc.		12,312		336,733
UGI Corp.		8,391		226,305
National Fuel Gas Co.		4,156		213,452
Southwest Gas Holdings, Inc.		3,313		210,873
ONE Gas, Inc.		2,515		193,177
Total Gas				1,588,661
Water - 4.1%
American Water Works Company, Inc.		3,631		518,325
Essential Utilities, Inc.		7,600		303,316
Total Water				821,641
Energy-Alternate Sources - 1.8%
NextEra Energy Partners, LP		3,570		209,345
Sunnova Energy International, Inc.*,1		7,536		137,984
Total Energy-Alternate Sources				347,329
Total Common Stocks
(Cost $16,244,283)				19,964,469
	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.5%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/23	$	57,275		57,275
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/23		25,198		25,198
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/23		22,907		22,907
Total Repurchase Agreements
(Cost $105,380)				105,380
		Shares
SECURITIES LENDING COLLATERAL†,3 - 1.7%
Money Market Fund
First American Government Obligations Fund - Class X, 5.01%4		350,093		350,093
Total Securities Lending Collateral
(Cost $350,093)				350,093
Total Investments - 101.8%
(Cost $16,699,756)			$	20,419,942
Other Assets & Liabilities, net - (1.8)%				(356,895	)
Total Net Assets - 100.0%			$	20,063,047

^* Non-income producing security.

^† Value determined based on Level 1 inputs — See Note 3.

^†† Value determined based on Level 2 inputs — See Note 3.

¹ All or a portion of this security is on loan at June 30, 2023 — See Note 5.

² Repurchase Agreements — See Note 4.

³ Securities lending collateral — See Note 5.

⁴ Rate indicated is the 7-day yield as of June 30, 2023.

See Sector Classification in Other Information section.

Utilities Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	19,964,469	$	—	$	—	$	19,964,469
Repurchase Agreements		—		105,380		—		105,380
Securities Lending Collateral		350,093		—		—		350,093
Total Assets	$	20,314,562	$	105,380	$	—	$	20,419,942

Weakening Dollar 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

	Face Amount		Value
U.S. TREASURY BILLS†† - 3.8%
U.S. Treasury Bills
5.11% due 07/18/231,2	$	41,000	$	40,914
Total U.S. Treasury Bills
(Cost $40,900)				40,914
REPURCHASE AGREEMENTS††,3 - 95.4%
J.P. Morgan Securities LLC issued 06/30/23 at 5.05% due 07/03/234		565,431		565,431
Barclays Capital, Inc. issued 06/30/23 at 5.06% due 07/03/234		248,761		248,761
BofA Securities, Inc. issued 06/30/23 at 5.06% due 07/03/234		226,147		226,147
Total Repurchase Agreements
(Cost $1,040,339)				1,040,339
Total Investments - 99.2%
(Cost $1,081,239)			$	1,081,253
Other Assets & Liabilities, net - 0.8%				8,956
Total Net Assets - 100.0%			$	1,090,209

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Currency Futures Contracts Sold Short†
U.S. Dollar Index Futures Contracts		17	Sep 2023	$	1,743,690	$	9,792

Total Return Swap Agreements

Counterparty

Index

Type

Financing Rate

Payment Frequency

Maturity Date

Units

Notional Amount

Value and Unrealized Appreciation

OTC Currency Index Swap Agreements Sold Short††

Goldman Sachs International

U.S. Dollar Index

Pay

N/A

At Maturity

09/22/23

3,963

$

406,480

$

2,299

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is pledged as futures collateral at June 30, 2023.
2	Rate indicated is the effective yield at the time of purchase.
3	Repurchase Agreements — See Note 4.
4	All or a portion of this security is pledged as currency index swap collateral at June 30, 2023.

See Sector Classification in Other Information section.

Weakening Dollar 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	June 30, 2023

The following table summarizes the inputs used to value the Fund's investments at June 30, 2023 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
U.S. Treasury Bills	$	—	$	40,914	$	—	$	40,914
Repurchase Agreements		—		1,040,339		—		1,040,339
Currency Futures Contracts**		9,792		—		—		9,792
Currency Index Swap Agreements**		—		2,299		—		2,299
Total Assets	$	9,792	$	1,083,552	$	—	$	1,093,344

^** This derivative is reported as unrealized appreciation/depreciation at period end.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Note 1 – Organization and Significant Accounting Policies

Organization

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

This report covers the following funds (collectively, the “Funds”): 

Fund Name	Investment Company Type
Banking Fund	Diversified
Basic Materials Fund	Diversified
Biotechnology Fund	Diversified
Consumer Products Fund	Diversified
Dow Jones Industrial Average® Fund	Non-diversified
Electronics Fund	Non-diversified
Emerging Markets 2x Strategy Fund	Non-diversified
Emerging Markets Bond Strategy Fund	Diversified
Energy Fund	Diversified
Energy Services Fund	Non-diversified
Europe 1.25x Strategy Fund	Non-diversified
Financial Services Fund	Diversified
Government Long Bond 1.2x Strategy Fund	Diversified
Health Care Fund	Diversified
High Yield Strategy Fund	Non-diversified
Internet Fund	Diversified
Inverse Emerging Markets 2x Strategy Fund	Non-diversified
Inverse Government Long Bond Strategy Fund	Diversified
Inverse High Yield Strategy Fund	Non-diversified
Inverse Mid-Cap Strategy Fund	Non-diversified
Inverse NASDAQ-100® Strategy Fund	Non-diversified
Inverse Russell 2000® Strategy Fund	Non-diversified
Inverse S&P 500® Strategy Fund	Non-diversified
Japan 2x Strategy Fund	Non-diversified
Leisure Fund	Diversified
Long Short Equity Fund	Non-diversified
Mid-Cap 1.5x Strategy Fund	Non-diversified
Monthly Rebalance NASDAQ-100® 2x Strategy Fund	Non-diversified
NASDAQ-100® Fund	Non-diversified
Nova Fund	Non-diversified
Precious Metals Fund	Non-diversified
Real Estate Fund	Diversified
Retailing Fund	Diversified
Russell 2000® 1.5x Strategy Fund	Non-diversified
Russell 2000® Fund	Non-diversified
S&P 500® Fund	Non-diversified
S&P 500® Pure Growth Fund	Non-diversified
S&P 500® Pure Value Fund	Non-diversified
S&P MidCap 400® Pure Growth Fund	Non-diversified
S&P MidCap 400® Pure Value Fund	Non-diversified
S&P SmallCap 600® Pure Growth Fund	Non-diversified
S&P SmallCap 600® Pure Value Fund	Non-diversified
Strengthening Dollar 2x Strategy Fund	Non-diversified
Technology Fund	Diversified
Telecommunications Fund	Non-diversified
Transportation Fund	Diversified
Utilities Fund	Diversified
Weakening Dollar 2x Strategy Fund	Non-diversified

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

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

Significant Accounting Policies

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

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

(a) Valuation of Investments 

The Board of Trustees of the Funds (the “Board”) adopted policies and procedures for the valuation of the Funds’ investments (the “Valuation Procedures”). The U.S. Securities and Exchange Commission (the “SEC”) adopted Rule 2a-5 under the 1940 Act (“Rule 2a-5”) which establishes requirements for determining fair value in good faith and became effective September 8, 2022. Rule 2a-5 also defines “readily available market quotations” for purposes of the 1940 Act and establishes requirements for determining whether a fund must fair value a security in good faith.

Pursuant to Rule 2a-5, the Board has designated Security Investors, LLC (the “Adviser”), as the valuation designee to perform fair valuation determinations for the Funds with respect to all Fund investments and other assets. As the Funds’ valuation designee pursuant to Rule 2a-5, the Adviser has adopted separate procedures (the “Valuation Designee Procedures”) reasonably designed to prevent violations of the requirements of Rule 2a-5 and Rule 31a-4. The Adviser, in its role as valuation designee, utilizes the assistance of a valuation committee, consisting of representatives from Guggenheim’s investment management, fund administration, legal and compliance departments (the “Valuation Committee”), in determining the fair value of the Funds’ securities and other assets.

Valuations of the Funds’ securities and other assets are supplied primarily by pricing services appointed pursuant to the processes set forth in the Valuation Procedures. The Adviser, with the assistance of the Valuation Committee, convenes monthly, or more frequently as needed, to review the valuation of all assets which have been fair valued for reasonableness. The Adviser, consistent with the monitoring and review responsibilities set forth in the Valuation Designee Procedures, regularly reviews the appropriateness of the inputs, methods, models and assumptions employed by the pricing services.

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

Equity securities listed or traded on a recognized U.S. securities exchange or the National Association of Securities Dealers Automated Quotations (“NASDAQ”) National Market System shall generally be valued on the basis of the last sale price on the primary U.S. exchange or market on which the security is listed or traded; provided, however, that securities listed on NASDAQ will be valued at the NASDAQ official closing price, which may not necessarily represent the last sale price.

Open-end investment companies are valued at their net asset value (“NAV”) as of the close of business, on the valuation date. Exchange-traded funds and closed-end investment companies are generally valued at the last quoted sale price.

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

Commercial paper and discount notes with a maturity of greater than 60 days at acquisition are valued at prices that reflect broker-dealer supplied valuations or are obtained from independent pricing services, which may consider the trade activity, treasury spreads, yields or price of bonds of comparable quality, coupon, maturity, and type, as well as prices quoted by dealers who make markets in such securities. Commercial paper and discount notes with a maturity of 60 days or less at acquisition are valued at amortized cost, unless the Adviser concludes that amortized cost does not represent the fair value of the applicable asset in which case it will be valued using an independent pricing service.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

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

The value of futures contracts are valued on the basis of the last sale price at the 4:00 p.m. price on the valuation date. In the event that the exchange for a specific futures contract closes earlier than 4:00 p.m., the futures contract is valued at the official settlement price of the exchange. However, the underlying securities from which the futures contract value is derived are monitored until 4:00 p.m. to determine if fair valuation would provide a more accurate valuation.

The value of swap agreements entered into by a Fund are generally valued using an evaluated price provided by a third party pricing vendor.

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

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

Note 2 – Financial Instruments and Derivatives

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

Short Sales

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

Derivatives 

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

The Funds may utilize derivatives for the following purposes:

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

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

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

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

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

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Futures Contracts

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

Swap Agreements

A swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals based upon or calculated by reference to changes in specified prices or rates for a specified amount of an underlying asset. When utilizing over-the-counter (“OTC”) swaps, a Fund bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a swap agreement counterparty or if the underlying asset declines in value. Certain standardized swaps are subject to mandatory central clearing and are executed on a multi-lateral or other trade facility platform, such as a registered exchange. There is limited counterparty credit risk with respect to centrally-cleared swaps as the transaction is facilitated through a central clearinghouse, much like exchange-traded futures contracts. For a Fund utilizing centrally-cleared swaps, the exchange bears the risk of loss resulting from a counterparty not being able to pay. There is no guarantee that a Fund or an underlying fund could eliminate its exposure under an outstanding swap agreement by entering into an offsetting swap agreement with the same or another party.

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

Currency swaps enable the Funds to gain exposure to currencies in a market without actually possessing a given currency, or to hedge a position. Currency swaps involve the exchange of the principal and interest in one currency for the principal and interest in another currency. As in other types of OTC swaps, the Funds may be at risk due to the counterparty’s inability to perform.

Credit default swaps are instruments which allow for the full or partial transfer of third party credit risk, with respect to a particular entity or entities, from one counterparty to the other. A fund enters into credit default swaps as a “seller” or “buyer” of protection primarily to gain or reduce exposure to the investment grade and/or high yield bond market. A seller of credit default swaps is selling credit protection or assuming credit risk with respect to the underlying entity or entities. The buyer in a credit default swap is obligated to pay the seller a periodic stream of payments over the term of the contract provided that no event of default on an underlying reference obligation has occurred. If a credit event occurs, as defined under the terms of the swap agreement, the seller will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. The notional amount reflects the maximum potential amount the seller of credit protection could be required to pay to the buyer if a credit event occurs. The seller of protection receives periodic premium payments from the buyer and may also receive or pay an upfront premium adjustment to the stated periodic payments. In the event a credit event occurs on a credit default swap referencing an index, a factor adjustment will take place and the buyer of protection will receive a payment reflecting the par less the default recovery rate of the default recovery of the defaulted index component based on its weighting in the index. If no default occurs, the counterparty will pay the stream of payments and have no further obligations to the fund selling the credit protection. For a fund utilizing centrally cleared credit default swaps, the exchange bears the risk of loss resulting from a counterparty not being able to pay. For OTC credit default swaps, a fund bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a swap agreement counterparty, or in the case of a credit default swap in which a fund is selling credit protection, the default of a third party issuer.

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

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

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

The Trust has established counterparty credit guidelines and enters into transactions only with financial institutions rated/identified as investment grade or better. The Trust monitors the counterparty credit risk associated with each such financial institution.

Foreign Investments 

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

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

Emerging markets, which consist of countries that have an emerging stock market as defined by Standard & Poor's^®, countries or markets with low - to middle - income economies as classified by the World Bank, and other countries or markets with similar characteristics as determined by GI, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market,or economic developments and can perform differently from the U.S. market. Emerging markets can be subject to greater social, economic,regulatory, and political uncertainties and can be extremely volatile. As a result, the securities of emerging market issuers may present market, credit, currency, liquidity, legal, political and other risks different from, or greater than, the risks of investing in securities of developed foreign countries. In addition, the risks associated with investing in a narrowly defined geographic area are generally more pronounced with respect to investments in emerging market countries. The Fund may also be subject to this risk with respect to its investments in derivatives or other securities or financial instruments whose returns are related to the returns of emerging market securities. 

Note 3 – Fair Value Measurement  

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

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

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

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

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

Rule 2a-5 sets forth a definition of “readily available market quotations,” which is consistent with the definition of a Level 1 input under U.S. GAAP. Rule 2a-5 provides that “a market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the fund can access at the measurement date, provided that a quotation will not be readily available if it is not reliable.”

Securities for which market quotations are not readily available must be valued at fair value as determined in good faith. Accordingly, any security priced using inputs other than Level 1 inputs will be subject to fair value requirements. The types of inputs available depend on a variety of factors, such as the type of security and the characteristics of the markets in which it trades, if any. Fair valuation determinations that rely on fewer or no observable inputs require greater judgment. Accordingly, fair value determinations for Level 3 securities require the greatest amount of judgment.

The inputs or methodologies selected and applied for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The suitability, appropriateness and accuracy of the techniques, methodologies and sources employed to determine fair valuation are periodically reviewed and subject to change.

Note 4 – Repurchase Agreements

The Funds transfer uninvested cash balances into a single joint account, the daily aggregate balance of which is invested in one or more repurchase agreements collateralized by obligations of the U.S. Treasury and U.S. government agencies.  The joint account includes other Funds in the Guggenheim complex not covered in this report. The collateral is in the possession of the Funds’ custodian and is evaluated to ensure that its market value exceeds, at a minimum, 102% of the original face amount of the repurchase agreements. Each Fund holds a pro rata share of the collateral based on the dollar amount of the repurchase agreement entered into by each Fund.

At June 30, 2023, the repurchase agreements in the joint account were as follows:

Counterparty and Terms of Agreement	Face Value		Repurchase Price		Collateral	Par Value		Fair Value
J.P. Morgan Securities LLC 5.05% Due 07/03/23	$	137,286,751	$	137,344,526	U.S. Treasury Inflation Indexed Bond 3.63% Due 04/15/28	$	129,694,939	$	140,030,466
					U.S. Treasury Notes 0.25% - 2.75% Due 09/30/23 - 03/31/27		2,100		2,022
							129,697,039		140,032,488
Barclays Capital, Inc. 5.06% Due 07/03/23		60,399,250		60,424,719	U.S. Treasury Inflation Indexed Bond 0.13% - 0.75% Due 10/15/26 - 02/15/45		68,592,589		61,607,304
BofA Securities, Inc. 5.06% Due 07/03/23		54,908,410		54,931,563	U.S. Treasury Inflation Indexed Bond 0.50% Due 01/15/28		59,873,011		56,006,594

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

Note 5 – Portfolio Securities Loaned

The Funds may lend their securities to approved brokers to earn additional income. Security lending income is net of rebates paid to the borrowers and earnings on cash collateral investments shared with the lending agent. Within this arrangement, the Funds act as the lender, U.S. Bank acts as the lending agent, and other approved registered broker dealers act as the borrowers. The Funds receive cash collateral, valued at 102% of the value of the securities on loan. Under the terms of the Funds’ securities lending agreement with U.S. Bank, cash collateral and proceeds are invested in the First American Government Obligations Fund – Class X. The Funds bear the risk of loss on cash collateral investments. Collateral is maintained over the life of the loan in an amount not less than the value of loaned securities, as determined at the close of fund business each day; any additional collateral required due to changes in security values is delivered to the Funds the next business day. Although the collateral mitigates the risk, the Funds could experience a delay in recovering its securities and a possible loss of income or value if the borrower fails to return the securities. The Funds have the right under the securities lending agreement to recover the securities from the borrower on demand. Securities lending transactions are accounted for as secured borrowings. The remaining contractual maturity of the securities lending agreement is overnight and continuous.

At June 30, 2023, the Funds participated in securities lending transactions, which are subject to enforceable netting arrangements, as follows:

Fund	Value of Securities Loaned		Collateral Received
Banking Fund	$	271,062	$	280,820
Basic Materials Fund		396,107		403,604
Biotechnology Fund		1,519,885		1,568,762
Consumer Products Fund		913,650		918,181
Electronics Fund		964,498		965,466

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

Fund	Value of Securities Loaned		Collateral Received
Emerging Markets 2x Strategy Fund		27,630		28,029
Energy Fund		176,027		173,656	*
Energy Services Fund		71,238		69,750	*
Europe 1.25x Strategy Fund		122,662		123,773
Financial Services Fund		122,739		125,375
Health Care Fund		25,009		26,087
Internet Fund		76,753		77,516
Leisure Fund		159,184		163,155
Mid-Cap 1.5x Strategy Fund		42,594		44,046
Monthly Rebalance NASDAQ-100® 2x Strategy Fund		1,412,800		1,423,403
NASDAQ-100® Fund		4,799,930		4,836,267
Nova Fund		16,680		17,388
Precious Metals Fund		1,951,116		1,988,057
Real Estate Fund		8,474		8,319	*
Retailing Fund		185,196		192,040
Russell 2000® 1.5x Strategy Fund		36,166		37,109
Russell 2000® Fund		391,604		399,310
S&P 500® Fund		11,684		12,180
S&P MidCap 400® Pure Growth Fund		164,484		168,942
S&P MidCap 400® Pure Value Fund		291,716		296,777
S&P SmallCap 600® Pure Growth Fund		14,807		15,279
S&P SmallCap 600® Pure Value Fund		74,941		76,450
Technology Fund		87,764		87,656	*
Transportation Fund		515,984		533,500
Utilities Fund		343,190		350,093

* Subsequent to June 30, 2023, additional collateral was received.

In the event of counterparty default, the Funds have the right to collect the collateral to offset losses incurred. There is potential loss to the Funds in the event the Funds are delayed or prevented from exercising their rights to dispose of the collateral securities, including the risk of a possible decline in the value of the underlying securities during the period while the Funds seek to assert their rights. GI, acting under the supervision of the Board, reviews the value of the collateral and the creditworthiness of those banks and dealers to evaluate potential risks.

Note 6– Federal Income Tax Information

The Funds intend to comply with the provisions of Subchapter M of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), applicable to regulated investment companies and will distribute substantially all taxable net investment income and capital gains sufficient to relieve the Funds from all, or substantially all, federal income, excise and state income taxes. Therefore, no provision for federal or state income tax or federal excise tax is required.

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

At June 30, 2023, the cost of investments for U.S. federal income tax purposes, the aggregate gross unrealized appreciation for all investments for which there was an excess of value over tax cost, and the aggregate gross unrealized depreciation for all investments for which there was an excess of tax cost over value, were as follows:

Fund	Tax Cost		Tax Unrealized Appreciation		Tax Unrealized Depreciation			Net Tax Unrealized Appreciation (Depreciation)
Banking Fund	$	12,253,692	$	–	$	(1,038,537	)	$	(1,038,537	)
Basic Materials Fund		24,717,373		10,131,908		(711,765	)		9,420,143
Biotechnology Fund		67,580,836		55,384,248		(4,839,527	)		50,544,721
Consumer Products Fund		45,647,587		33,054,004		(480,116	)		32,573,888
Dow Jones Industrial Average® Fund		25,285,006		1,990,199		(93,052	)		1,897,147
Electronics Fund		67,093,872		28,130,522		(254,609	)		27,875,913
Emerging Markets 2x Strategy Fund		5,713,744		26,941		(90,884	)		(63,943	)
Emerging Markets Bond Strategy Fund		376,472		4,930		(2,404	)		2,526
Energy Fund		22,022,743		6,016,323		(29,719	)		5,986,604
Energy Services Fund		33,531,751		328,415		(525,545	)		(197,130	)
Europe 1.25x Strategy Fund		5,858,700		49,426		(5,518	)		43,908
Financial Services Fund		8,245,714		–		(1,449,811	)		(1,449,811	)
Government Long Bond 1.2x Strategy Fund		29,259,378		342,240		(141,491	)		200,749
Health Care Fund		21,941,836		5,017,113		(127,766	)		4,889,347
High Yield Strategy Fund		41,149,891		795,793		(622,391	)		173,402
Internet Fund		10,433,034		2,499,769		(87,832	)		2,411,937
Inverse Emerging Markets 2x Strategy Fund		600,298		18,499		–			18,499
Inverse Government Long Bond Strategy Fund		27,860,997		1,891		(453,538	)		(451,647	)
Inverse High Yield Strategy Fund		9,094,765		163,261		(191,569	)		(28,308	)
Inverse Mid-Cap Strategy Fund		3,740,722		42		(104,024	)		(103,982	)
Inverse NASDAQ-100® Strategy Fund		21,914,920		–		(540,780	)		(540,780	)
Inverse Russell 2000® Strategy Fund		5,323,815		10		(139,056	)		(139,046	)
Inverse S&P 500® Strategy Fund		51,332,639		4,772		(922,933	)		(918,161	)
Japan 2x Strategy Fund		1,864,416		146,606		(134,439	)		12,167
Leisure Fund		8,981,125		3,605,901		(56,069	)		3,549,832
Long Short Equity Fund		14,094,107		2,368,965		(857,889	)		1,511,076
Mid-Cap 1.5x Strategy Fund		10,474,928		1,244,180		(506,719	)		737,461
Monthly Rebalance NASDAQ-100® 2x Strategy Fund		487,179,943		42,873,765		(5,084,427	)		37,789,338
NASDAQ-100® Fund		580,732,309		1,023,888,149		(10,324,942	)		1,013,563,207
Nova Fund		260,287,551		–		(3,027,973	)		(3,027,973	)
Precious Metals Fund		99,595,610		–		(18,435,983	)		(18,435,983	)
Real Estate Fund		2,377,855		–		(91,385	)		(91,385	)
Retailing Fund		10,959,534		1,101,568		(80,581	)		1,020,987
Russell 2000® 1.5x Strategy Fund		7,116,229		621,307		(933,038	)		(311,731	)
Russell 2000® Fund		27,269,524		2,064,622		(4,533,433	)		(2,468,811	)
S&P 500® Fund		138,081,745		14,668,007		(104,266	)		14,563,741
S&P 500® Pure Growth Fund		33,547,728		2,253,926		(1,100,948	)		1,152,978
S&P 500® Pure Value Fund		15,101,734		–		(1,206,689	)		(1,206,689	)
S&P MidCap 400® Pure Growth Fund		27,383,586		3,284,642		(785,060	)		2,499,582
S&P MidCap 400® Pure Value Fund		19,475,530		1,071,274		(85,851	)		985,423
S&P SmallCap 600® Pure Growth Fund		4,299,078		707,829		(46,523	)		661,306
S&P SmallCap 600® Pure Value Fund		6,221,707		942,852		(362,815	)		580,037
Strengthening Dollar 2x Strategy Fund		7,070,958		100		(69,937	)		(69,837	)
Technology Fund		25,743,474		20,763,138		(23,098	)		20,740,040
Telecommunications Fund		2,748,710		–		(144,425	)		(144,425	)
Transportation Fund		16,067,033		3,789,751		(90,019	)		3,699,732
Utilities Fund		19,319,003		1,212,681		(111,742	)		1,100,939
Weakening Dollar 2x Strategy Fund		1,081,239		12,105		–			12,105

Note 7 – Market Risks

The value of, or income generated by, the investments held by the Funds are subject to the possibility of rapid and unpredictable fluctuation, and loss that may result from various factors. These factors include, among others, developments affecting individual companies, or from broader influences, including real or perceived changes in prevailing interest rates (which have since risen and may continue to rise), changes in inflation rates or expectations about inflation rates (which are currently elevated relative to normal conditions), adverse investor confidence or sentiment, changing economic, political (including geopolitical), social or financial market conditions, increased instability or general uncertainty, environmental disasters, governmental actions, public health emergencies (such as the spread of infectious diseases, pandemics and epidemics), debt crises, actual or threatened wars or other armed conflicts (such as the current Russia-Ukraine conflict and its risk of expansion or collateral economic and other effects) or ratings downgrades, and other similar events, each of which may be temporary or last for extended periods. Moreover, changing economic, political, geopolitical, social, financial market or other conditions in one country or geographic region could adversely affect the value, yield and return of the investments held by the Funds in a different country or geographic region, economy, and market because of the increasingly interconnected global economies and financial markets. The duration and extent of the foregoing types of factors or conditions are highly uncertain and difficult to predict and have in the past, and may in the future, cause volatility and distress in economies and financial markets or other adverse circumstances, which may negatively affect the value of the Funds’ investments and performance of the Funds.

OTHER INFORMATION (Unaudited)

Sector Classification 

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