Mid Cap Value - Schedule of Investments | |
DECEMBER 31, 2019 (UNAUDITED) |
Shares/ Principal Amount ($) | Value ($) | ||||
COMMON STOCKS — 94.4% | |||||
Aerospace and Defense — 1.5% | |||||
BAE Systems plc | 8,744,914 | 65,522,063 | |||
Textron, Inc. | 1,437,301 | 64,103,624 | |||
129,625,687 | |||||
Airlines — 1.5% | |||||
Southwest Airlines Co. | 2,425,466 | 130,926,655 | |||
Auto Components — 1.3% | |||||
Aptiv plc | 416,830 | 39,586,345 | |||
BorgWarner, Inc. | 1,655,997 | 71,837,150 | |||
111,423,495 | |||||
Automobiles — 1.6% | |||||
Honda Motor Co. Ltd. ADR(1) | 2,853,241 | 80,775,253 | |||
Thor Industries, Inc. | 747,774 | 55,552,130 | |||
136,327,383 | |||||
Banks — 9.5% | |||||
Comerica, Inc. | 1,866,557 | 133,925,465 | |||
Commerce Bancshares, Inc.(1) | 1,527,271 | 103,762,792 | |||
First Hawaiian, Inc. | 3,919,570 | 113,079,594 | |||
M&T Bank Corp. | 633,415 | 107,522,196 | |||
Prosperity Bancshares, Inc. | 600,663 | 43,181,663 | |||
Truist Financial Corp. | 3,797,827 | 213,893,617 | |||
UMB Financial Corp. | 849,603 | 58,316,750 | |||
Westamerica Bancorporation | 755,254 | 51,183,564 | |||
824,865,641 | |||||
Building Products — 1.5% | |||||
Johnson Controls International plc | 3,073,227 | 125,111,071 | |||
Capital Markets — 5.0% | |||||
Ameriprise Financial, Inc. | 798,666 | 133,041,782 | |||
Northern Trust Corp. | 1,998,372 | 212,307,041 | |||
State Street Corp. | 1,116,718 | 88,332,394 | |||
433,681,217 | |||||
Commercial Services and Supplies — 0.8% | |||||
Republic Services, Inc. | 812,905 | 72,860,675 | |||
Containers and Packaging — 2.6% | |||||
Graphic Packaging Holding Co. | 2,601,143 | 43,309,031 | |||
Packaging Corp. of America | 611,995 | 68,537,320 | |||
Sonoco Products Co. | 991,851 | 61,217,044 | |||
WestRock Co. | 1,109,162 | 47,594,141 | |||
220,657,536 | |||||
Distributors — 1.2% | |||||
Genuine Parts Co. | 971,524 | 103,204,995 | |||
Electric Utilities — 5.3% | |||||
Edison International | 1,603,319 | 120,906,286 | |||
Eversource Energy | 738,556 | 62,828,959 |
Pinnacle West Capital Corp. | 1,232,852 | 110,870,380 | |||
Xcel Energy, Inc. | 2,592,903 | 164,623,412 | |||
459,229,037 | |||||
Electrical Equipment — 6.3% | |||||
Eaton Corp. plc | 695,516 | 65,879,275 | |||
Emerson Electric Co. | 2,101,710 | 160,276,405 | |||
Hubbell, Inc. | 961,328 | 142,103,505 | |||
nVent Electric plc | 5,015,135 | 128,287,153 | |||
Schneider Electric SE | 463,874 | 47,717,846 | |||
544,264,184 | |||||
Electronic Equipment, Instruments and Components — 1.0% | |||||
TE Connectivity Ltd. | 898,098 | 86,073,712 | |||
Energy Equipment and Services — 2.0% | |||||
Baker Hughes Co. | 3,432,307 | 87,970,028 | |||
Schlumberger Ltd. | 2,175,264 | 87,445,613 | |||
175,415,641 | |||||
Equity Real Estate Investment Trusts (REITs) — 5.8% | |||||
Empire State Realty Trust, Inc., Class A | 4,136,431 | 57,744,577 | |||
MGM Growth Properties LLC, Class A | 3,045,311 | 94,313,281 | |||
Piedmont Office Realty Trust, Inc., Class A | 3,345,920 | 74,413,261 | |||
Welltower, Inc. | 1,347,246 | 110,177,778 | |||
Weyerhaeuser Co. | 5,293,731 | 159,870,676 | |||
496,519,573 | |||||
Food and Staples Retailing — 1.9% | |||||
Koninklijke Ahold Delhaize NV | 3,680,825 | 92,248,348 | |||
Sysco Corp. | 869,669 | 74,391,486 | |||
166,639,834 | |||||
Food Products — 4.0% | |||||
Conagra Brands, Inc. | 2,871,325 | 98,314,168 | |||
J.M. Smucker Co. (The) | 575,070 | 59,882,039 | |||
Kellogg Co. | 680,922 | 47,092,566 | |||
Mondelez International, Inc., Class A | 867,962 | 47,807,347 | |||
Orkla ASA | 9,016,854 | 91,385,116 | |||
344,481,236 | |||||
Gas Utilities — 1.9% | |||||
Atmos Energy Corp. | 670,385 | 74,989,266 | |||
Spire, Inc. | 1,061,002 | 88,392,077 | |||
163,381,343 | |||||
Health Care Equipment and Supplies — 4.4% | |||||
Hologic, Inc.(2) | 1,360,506 | 71,032,018 | |||
Siemens Healthineers AG | 1,220,774 | 58,620,513 | |||
Zimmer Biomet Holdings, Inc. | 1,678,678 | 251,264,523 | |||
380,917,054 | |||||
Health Care Providers and Services — 5.8% | |||||
Cardinal Health, Inc. | 2,091,462 | 105,786,148 | |||
Henry Schein, Inc.(2) | 1,132,892 | 75,586,554 | |||
McKesson Corp. | 690,034 | 95,445,503 | |||
Quest Diagnostics, Inc. | 1,258,937 | 134,441,882 | |||
Universal Health Services, Inc., Class B | 625,826 | 89,780,998 | |||
501,041,085 | |||||
Health Care Technology — 1.1% | |||||
Cerner Corp. | 1,294,406 | 94,996,456 | |||
Hotels, Restaurants and Leisure — 1.9% | |||||
Carnival Corp. | 1,678,080 | 85,296,807 | |||
Sodexo SA | 667,406 | 79,157,460 | |||
164,454,267 | |||||
Household Durables — 0.8% | |||||
PulteGroup, Inc. | 1,822,336 | 70,706,637 | |||
Household Products — 0.9% | |||||
Kimberly-Clark Corp. | 556,556 | 76,554,278 | |||
Insurance — 5.8% | |||||
Aflac, Inc. | 1,268,982 | 67,129,148 | |||
Arthur J. Gallagher & Co. | 239,932 | 22,848,724 | |||
Brown & Brown, Inc. | 1,021,660 | 40,335,137 | |||
Chubb Ltd. | 849,929 | 132,299,948 | |||
Globe Life, Inc. | 312,526 | 32,893,361 | |||
ProAssurance Corp. | 2,168,814 | 78,380,938 | |||
Reinsurance Group of America, Inc. | 617,746 | 100,729,663 | |||
Travelers Cos., Inc. (The) | 199,600 | 27,335,220 | |||
501,952,139 | |||||
Machinery — 2.9% | |||||
Cummins, Inc. | 511,560 | 91,548,778 | |||
IMI plc | 5,264,883 | 82,385,465 | |||
PACCAR, Inc. | 1,001,291 | 79,202,118 | |||
253,136,361 | |||||
Multi-Utilities — 2.5% | |||||
Ameren Corp. | 1,053,408 | 80,901,735 | |||
NorthWestern Corp. | 1,235,639 | 88,558,247 | |||
WEC Energy Group, Inc. | 530,792 | 48,954,946 | |||
218,414,928 | |||||
Multiline Retail — 0.8% | |||||
Target Corp. | 503,616 | 64,568,607 | |||
Oil, Gas and Consumable Fuels — 2.8% | |||||
ConocoPhillips | 1,852,185 | 120,447,591 | |||
Imperial Oil Ltd. | 1,822,136 | 48,200,201 | |||
Noble Energy, Inc. | 2,995,629 | 74,411,424 | |||
243,059,216 | |||||
Paper and Forest Products — 1.0% | |||||
Mondi plc | 3,719,123 | 87,795,698 | |||
Road and Rail — 1.0% | |||||
Heartland Express, Inc. | 3,888,701 | 81,857,156 | |||
Semiconductors and Semiconductor Equipment — 3.4% | |||||
Applied Materials, Inc. | 1,908,236 | 116,478,725 | |||
Maxim Integrated Products, Inc. | 1,746,037 | 107,398,736 | |||
Microchip Technology, Inc. | 681,748 | 71,392,651 | |||
295,270,112 | |||||
Specialty Retail — 1.4% | |||||
Advance Auto Parts, Inc. | 735,617 | 117,816,419 | |||
Technology Hardware, Storage and Peripherals — 0.7% | |||||
HP, Inc. | 3,055,366 | 62,787,771 | |||
Thrifts and Mortgage Finance — 0.8% | |||||
Capitol Federal Financial, Inc. | 5,280,942 | 72,507,334 | |||
Trading Companies and Distributors — 1.0% | |||||
MSC Industrial Direct Co., Inc., Class A | 1,111,718 | 87,236,512 | |||
Wireless Telecommunication Services — 0.7% | |||||
Rogers Communications, Inc., Class B | 1,154,698 | 57,336,974 | |||
TOTAL COMMON STOCKS (Cost $6,467,359,857) | 8,157,097,919 | ||||
EXCHANGE-TRADED FUNDS — 3.1% | |||||
iShares Russell Mid-Cap Value ETF (Cost $239,540,636) | 2,832,000 | 268,388,640 | |||
TEMPORARY CASH INVESTMENTS — 2.5% | |||||
Federal Home Loan Bank Discount Notes, 1.17%, 1/2/20(3) | 200,000,000 | 200,000,000 | |||
Repurchase Agreement, BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 2.75% - 3.75%, 9/15/21 - 11/15/43, valued at $16,447,999), in a joint trading account at 1.35%, dated 12/31/19, due 1/2/20 (Delivery value $16,102,330) | 16,101,123 | ||||
Repurchase Agreement, Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 1.625%, 12/15/22, valued at $3,655,406), at 0.65%, dated 12/31/19, due 1/2/20 (Delivery value $3,583,129) | 3,583,000 | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 40,032 | 40,032 | |||
TOTAL TEMPORARY CASH INVESTMENTS (Cost $219,717,766) | 219,724,155 | ||||
TEMPORARY CASH INVESTMENTS - SECURITIES LENDING COLLATERAL(4) — 0.1% | |||||
State Street Navigator Securities Lending Government Money Market Portfolio (Cost $6,561,784) | 6,561,784 | 6,561,784 | |||
TOTAL INVESTMENT SECURITIES — 100.1% (Cost $6,933,180,043) | 8,651,772,498 | ||||
OTHER ASSETS AND LIABILITIES — (0.1)% | (8,431,301 | ) | |||
TOTAL NET ASSETS — 100.0% | $ | 8,643,341,197 |
FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS | ||||||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||
USD | 86,979,983 | CAD | 114,395,725 | Morgan Stanley | 3/31/20 | $ | (1,141,652 | ) | ||
USD | 2,242,847 | CAD | 2,949,568 | Morgan Stanley | 3/31/20 | (29,272 | ) | |||
EUR | 5,702,114 | USD | 6,367,870 | Credit Suisse AG | 3/31/20 | 63,520 | ||||
USD | 244,738,414 | EUR | 218,002,578 | Credit Suisse AG | 3/31/20 | (1,145,758 | ) | |||
USD | 197,441,469 | GBP | 149,886,978 | JPMorgan Chase Bank N.A. | 3/31/20 | (1,577,452 | ) | |||
JPY | 202,507,123 | USD | 1,872,263 | Bank of America N.A. | 3/31/20 | 355 | ||||
USD | 50,276,889 | JPY | 5,469,517,142 | Bank of America N.A. | 3/31/20 | (300,663 | ) | |||
NOK | 18,139,907 | USD | 2,061,762 | Goldman Sachs & Co. | 3/31/20 | 4,946 | ||||
USD | 76,315,490 | NOK | 687,991,775 | Goldman Sachs & Co. | 3/31/20 | (2,068,488 | ) | |||
USD | 1,889,035 | NOK | 16,871,733 | Goldman Sachs & Co. | 3/31/20 | (33,188 | ) | |||
$ | (6,227,652 | ) |
NOTES TO SCHEDULE OF INVESTMENTS | ||
ADR | - | American Depositary Receipt |
CAD | - | Canadian Dollar |
EUR | - | Euro |
GBP | - | British Pound |
JPY | - | Japanese Yen |
NOK | - | Norwegian Krone |
USD | - | United States Dollar |
(1) | Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $6,406,212. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers. |
(2) | Non-income producing. |
(3) | The rate indicated is the yield to maturity at purchase. |
(4) | Investment of cash collateral from securities on loan. At the period end, the aggregate market value of the collateral held by the fund was $6,561,784. |
• | Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments. |
• | Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars. |
• | Level 3 valuation inputs consist of unobservable data (including a fund’s own assumptions). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | ||||
Assets | ||||||
Investment Securities | ||||||
Common Stocks | ||||||
Aerospace and Defense | 64,103,624 | 65,522,063 | — | |||
Electrical Equipment | 496,546,338 | 47,717,846 | — | |||
Food and Staples Retailing | 74,391,486 | 92,248,348 | — | |||
Food Products | 253,096,120 | 91,385,116 | — | |||
Health Care Equipment and Supplies | 322,296,541 | 58,620,513 | — | |||
Hotels, Restaurants and Leisure | 85,296,807 | 79,157,460 | — | |||
Machinery | 170,750,896 | 82,385,465 | — | |||
Oil, Gas and Consumable Fuels | 194,859,015 | 48,200,201 | — | |||
Paper and Forest Products | — | 87,795,698 | — | |||
Wireless Telecommunication Services | — | 57,336,974 | — | |||
Other Industries | 5,785,387,408 | — | — | |||
Exchange-Traded Funds | 268,388,640 | — | — | |||
Temporary Cash Investments | 40,032 | 219,684,123 | — | |||
Temporary Cash Investments - Securities Lending Collateral | 6,561,784 | — | — | |||
7,721,718,691 | 930,053,807 | — | ||||
Other Financial Instruments | ||||||
Forward Foreign Currency Exchange Contracts | — | 68,821 | — | |||
Liabilities | ||||||
Other Financial Instruments | ||||||
Forward Foreign Currency Exchange Contracts | — | 6,296,473 | — |
Company | Beginning Value | Purchase Cost | Sales Cost | Change in Net Unrealized Appreciation (Depreciation) | Ending Value | Ending Shares | Net Realized Gain (Loss) | Income | ||||||||||||
Heartland Express, Inc. | $ | 76,492 | $ | 4,732 | $ | 7,459 | $ | 8,092 | (1) | (1) | $ | (184 | ) | $ | 242 |
(1) | Company was not an affiliate at December 31, 2019. |