High Yield Fund As of June 30, 2017
SCHEDULE OF INVESTMENTS
COUPON MATURITY SHARES/ PAR MARKET % TOTAL NET ISSUER RATE DATE VALUE VALUE ASSETS
Goldman Sachs Financial Square Funds - Government 0.85 12/31/2049 111,394,292 $111,394,292 3.16% Fund Ally Financial Inc 5.75 11/20/2025 51,365,000 $54,061,663 1.53% Voya Financial Inc 5.65 5/15/2053 47,227,000 $50,178,688 1.42% CCO Holdings LLC / CCO Holdings Capital Corp 5.13 5/1/2023 39,650,000 $41,632,500 1.18% JPMorgan Chase & Co 5.00 12/31/2049 35,420,000 $36,216,950 1.03% ArcelorMittal 7.50 10/15/2039 30,030,000 $33,671,138 0.96% Dell International LLC / EMC Corp 7.13 6/15/2024 29,550,000 $32,483,015 0.92% Navios Maritime Acquisition Corp / Navios Acquisition 8.13 11/15/2021 37,660,000 $31,916,850 0.91% Finance US Inc Zayo Group LLC / Zayo Capital Inc 6.00 4/1/2023 21,635,000 $22,770,838 0.65% WCI Communities Inc / Lennar Corp 6.88 8/15/2021 21,855,000 $22,744,280 0.65% HCA Inc 4.75 5/1/2023 21,400,000 $22,630,500 0.64% ING Bank NV 5.80 9/25/2023 18,700,000 $21,115,872 0.60% CIT Group Inc 3.88 2/19/2019 20,125,000 $20,628,125 0.59% First Data Corp 5.00 1/15/2024 20,050,000 $20,620,022 0.59% Cheniere Corpus Christi Holdings LLC 5.13 6/30/2027 18,550,000 $19,013,750 0.54% Wind Acquisition Finance SA 7.38 4/23/2021 18,205,000 $18,933,200 0.54% Liberty Mutual Group Inc 4.15 3/7/2067 19,172,000 $18,692,700 0.53% HCA Inc 4.50 2/15/2027 17,840,000 $18,352,900 0.52% HCA Inc 5.00 3/15/2024 17,315,000 $18,332,256 0.52% Centene Corp 4.75 5/15/2022 17,250,000 $18,004,688 0.51% WellCare Health Plans Inc 5.25 4/1/2025 17,140,000 $17,954,150 0.51% Quintiles IMS Inc 5.00 10/15/2026 17,345,000 $17,887,031 0.51% Crown Cork & Seal Co Inc 7.38 12/15/2026 15,449,000 $17,882,218 0.51% DISH DBS Corp 6.75 6/1/2021 16,110,000 $17,882,100 0.51% DISH DBS Corp 5.88 11/15/2024 16,690,000 $17,807,729 0.51% Sprint Communications Inc 6.00 11/15/2022 16,500,000 $17,490,000 0.50% Cinemark USA Inc 4.88 6/1/2023 17,025,000 $17,392,059 0.49% Signode Industrial Group Lux SA/Signode Industrial Group 6.38 5/1/2022 16,510,000 $17,252,950 0.49% US Inc Universal Hospital Services Inc 7.63 8/15/2020 16,905,000 $17,179,706 0.49% IAMGOLD Corp 7.00 4/15/2025 16,560,000 $17,056,800 0.48% Continental Resources Inc/OK 4.50 4/15/2023 17,820,000 $17,018,100 0.48% Radiate Holdco LLC / Radiate Finance Inc 6.63 2/15/2025 16,855,000 $16,855,000 0.48% Equinix Inc 5.88 1/15/2026 15,400,000 $16,790,774 0.48% Chaparral Energy Inc 810,093 $15,999,337 0.45% Pinnacle Operating Corp 9.00 5/15/2023 16,468,927 $15,645,481 0.44% Caraustar Industries Inc, Term Loan 6.80 3/9/2022 15,595,913 $15,588,115 0.44% WideOpenWest Finance LLC / WideOpenWest Capital Corp 10.25 7/15/2019 15,115,000 $15,568,450 0.44% Unitymedia Hessen GmbH & Co KG / Unitymedia NRW 5.50 1/15/2023 14,985,000 $15,546,938 0.44% GmbH DJO Finco Inc / DJO Finance LLC / DJO Finance Corp 8.13 6/15/2021 16,640,000 $15,475,200 0.44% CSC Holdings LLC 10.13 1/15/2023 13,135,000 $15,236,600 0.43% Coveris Holdings SA 7.88 11/1/2019 15,360,000 $15,129,600 0.43% First Quantum Minerals Ltd 7.25 5/15/2022 14,574,000 $14,901,915 0.42% PJ 1025 D Not FDIC Insured 6-17 May Lose Value, Not a Deposit, No Bank Guarantee Not Insured by any Federal Government Agency
Please note that coupon rates are not available for all securities displayed on this report. High Yield Fund As of June 30, 2017
SCHEDULE OF INVESTMENTS
COUPON MATURITY SHARES/ PAR MARKET % TOTAL NET ISSUER RATE DATE VALUE VALUE ASSETS
AMC Entertainment Holdings Inc 5.88 11/15/2026 13,960,000 $14,570,750 0.41% Valeant Pharmaceuticals International Inc 5.38 3/15/2020 15,070,000 $14,561,388 0.41% Navistar International Corp 8.25 11/1/2021 14,360,000 $14,503,600 0.41% T-Mobile USA Inc 5.13 4/15/2025 13,770,000 $14,458,500 0.41% BlueLine Rental Finance Corp / BlueLine Rental LLC 9.25 3/15/2024 13,865,000 $14,419,600 0.41% Altice Financing SA 6.50 1/15/2022 13,765,000 $14,384,425 0.41% MPH Acquisition Holdings LLC 7.13 6/1/2024 13,387,000 $14,273,889 0.41% Commercial Metals Co 4.88 5/15/2023 14,103,000 $14,261,659 0.40% United Group BV 7.88 11/15/2020 12,000,000 $14,247,207 0.40% Eletson Holdings Inc 9.63 1/15/2022 17,244,000 $14,140,080 0.40% ING Groep NV 6.00 12/31/2049 13,780,000 $14,090,050 0.40% Sprint Corp 7.88 9/15/2023 12,250,000 $14,087,500 0.40% Patterson-UTI Energy Inc 691,815 $13,967,745 0.40% Tesoro Logistics LP / Tesoro Logistics Finance Corp 6.13 10/15/2021 13,410,000 $13,946,400 0.40% Jack Ohio Finance LLC / Jack Ohio Finance 1 Corp 6.75 11/15/2021 13,270,000 $13,867,150 0.39% DISH DBS Corp 7.88 9/1/2019 12,500,000 $13,781,250 0.39% First Data Corp 7.00 12/1/2023 12,815,000 $13,680,013 0.39% Sprint Communications Inc 7.00 8/15/2020 12,300,000 $13,530,000 0.38% Teck Resources Ltd 6.25 7/15/2041 13,000,000 $13,487,500 0.38% Northern Blizzard Resources Inc 7.25 2/1/2022 13,414,000 $13,447,535 0.38% Cloud Crane LLC 10.13 8/1/2024 12,195,000 $13,384,013 0.38% Intelsat Jackson Holdings SA 5.50 8/1/2023 15,980,000 $13,223,450 0.38% NCL Corp Ltd 4.63 11/15/2020 12,870,000 $13,211,930 0.37% IASIS Healthcare LLC / IASIS Capital Corp 8.38 5/15/2019 13,050,000 $13,115,250 0.37% VimpelCom Holdings BV 4.95 6/16/2024 12,940,000 $12,979,855 0.37% Lonestar Intermediate Super Holdings LLC, PIK Term Loan 10.23 8/10/2021 12,440,000 $12,789,937 0.36% Scientific Games International Inc 10.00 12/1/2022 11,645,000 $12,765,831 0.36% Navios South American Logistics Inc / Navios Logistics 7.25 5/1/2022 13,220,000 $12,757,300 0.36% Finance US Inc Bombardier Inc 8.75 12/1/2021 11,425,000 $12,681,750 0.36% Aircastle Ltd 5.13 3/15/2021 11,795,000 $12,625,014 0.36% DuPont Fabros Technology LP 5.88 9/15/2021 12,075,000 $12,573,094 0.36% AK Steel Corp 7.00 3/15/2027 12,175,000 $12,570,688 0.36% NGL Energy Partners LP / NGL Energy Finance Corp 7.50 11/1/2023 12,740,000 $12,564,825 0.36% Dollar Tree Inc 5.75 3/1/2023 11,904,000 $12,562,291 0.36% Navios Maritime Holdings Inc / Navios Maritime Finance II 7.38 1/15/2022 16,245,000 $12,549,263 0.36% US Inc Sensata Technologies UK Financing Co PLC 6.25 2/15/2026 11,500,000 $12,535,000 0.36% Ineos US Finance LLC, Term Loan B 3.98 2/10/2024 12,502,175 $12,520,928 0.36% Dynegy Inc 7.38 11/1/2022 12,610,000 $12,452,375 0.35% Credit Acceptance Corp 6.13 2/15/2021 12,090,000 $12,392,250 0.35% QEP Resources Inc 5.25 5/1/2023 13,091,000 $12,370,995 0.35% Ziggo Secured Finance BV 5.50 1/15/2027 12,095,000 $12,352,019 0.35% Post Holdings Inc 5.00 8/15/2026 12,305,000 $12,274,238 0.35% T-Mobile USA Inc 6.50 1/15/2026 11,120,000 $12,273,700 0.35%
PJ 1025 D Not FDIC Insured 6-17 May Lose Value, Not a Deposit, No Bank Guarantee Not Insured by any Federal Government Agency
Please note that coupon rates are not available for all securities displayed on this report. High Yield Fund As of June 30, 2017
SCHEDULE OF INVESTMENTS
COUPON MATURITY SHARES/ PAR MARKET % TOTAL NET ISSUER RATE DATE VALUE VALUE ASSETS
CF Industries Inc 5.15 3/15/2034 13,265,000 $12,270,125 0.35% CHS/Community Health Systems Inc 6.25 3/31/2023 11,830,000 $12,212,701 0.35% Huntington Ingalls Industries Inc 5.00 11/15/2025 11,345,000 $12,181,694 0.35% Consolidated Energy Finance SA 6.88 6/15/2025 11,760,000 $12,112,800 0.34% American Axle & Manufacturing Inc 6.25 4/1/2025 12,400,000 $12,090,000 0.34% Level 3 Financing Inc 5.38 1/15/2024 11,395,000 $11,893,531 0.34% Silversea Cruise Finance Ltd 7.25 2/1/2025 11,125,000 $11,862,031 0.34% WPX Energy Inc 7.50 8/1/2020 11,285,000 $11,849,250 0.34% Frontier Communications Corp 11.00 9/15/2025 12,760,000 $11,834,900 0.34% NuStar Logistics LP 5.63 4/28/2027 11,235,000 $11,796,750 0.33% Viacom Inc 5.87 2/28/2057 11,275,000 $11,726,000 0.33% Landry's Inc 6.75 10/15/2024 11,420,000 $11,691,225 0.33% Taseko Mines Ltd 8.75 6/15/2022 11,715,000 $11,685,713 0.33% Sunoco LP / Sunoco Finance Corp 6.38 4/1/2023 10,945,000 $11,501,006 0.33% Oasis Petroleum Inc 6.88 1/15/2023 11,825,000 $11,440,688 0.32% Sabine Pass Liquefaction LLC 5.63 3/1/2025 10,370,000 $11,438,722 0.32% Intelsat Jackson Holdings SA 8.00 2/15/2024 10,505,000 $11,319,138 0.32% California Resources Corp, Term Loan 11.53 12/31/2021 10,680,000 $11,267,400 0.32% Eldorado Resorts Inc 7.00 8/1/2023 10,345,000 $11,185,531 0.32% DISH DBS Corp 7.75 7/1/2026 9,385,000 $11,121,225 0.32% Altice Luxembourg SA 7.75 5/15/2022 10,420,000 $11,058,225 0.31% International Game Technology PLC 6.50 2/15/2025 10,030,000 $11,007,925 0.31% Wind Acquisition Finance SA 4.75 7/15/2020 10,885,000 $10,999,293 0.31% Tembec Industries Inc 9.00 12/15/2019 10,575,000 $10,985,839 0.31% iStar Inc, Term Loan B 4.90 7/1/2020 10,872,152 $10,940,103 0.31% Lantheus Medical Imaging Inc, Term Loan B 5.73 6/30/2022 10,842,835 $10,856,389 0.31% Mirant Mid-Atlantic Series C Pass Through Trust 10.06 12/30/2028 11,421,653 $10,736,354 0.30% Univision Communications Inc, Term Loan C5 3.98 3/15/2024 10,943,550 $10,720,083 0.30% Bombardier Inc 7.50 3/15/2025 10,330,000 $10,717,375 0.30% Norbord Inc 5.38 12/1/2020 10,175,000 $10,683,750 0.30% GLP Capital LP / GLP Financing II Inc 5.38 4/15/2026 9,775,000 $10,677,135 0.30% Taseko Mines Ltd 7.75 4/15/2019 10,635,000 $10,653,080 0.30% Springleaf Finance Corp 5.25 12/15/2019 10,215,000 $10,624,622 0.30% Equinix Inc 5.38 1/1/2022 10,065,000 $10,618,575 0.30% Aruba Investments Inc 8.75 2/15/2023 10,280,000 $10,614,100 0.30% MGM Growth Properties Operating Partnership LP / MGP 5.63 5/1/2024 9,715,000 $10,589,350 0.30% Finance Co-Issuer Inc Aircastle Ltd 5.00 4/1/2023 9,745,000 $10,402,788 0.30% TreeHouse Foods Inc 6.00 2/15/2024 9,730,000 $10,362,450 0.29% Centene Corp 6.13 2/15/2024 9,525,000 $10,298,240 0.29% TMS International Corp 7.63 10/15/2021 10,020,000 $10,145,250 0.29% Iron Mountain US Holdings Inc 5.38 6/1/2026 9,655,000 $10,137,750 0.29% Global Partners LP / GLP Finance Corp 7.00 6/15/2023 10,170,000 $10,119,150 0.29% Ingles Markets Inc 5.75 6/15/2023 10,265,000 $10,098,194 0.29% Vector Group Ltd 6.13 2/1/2025 9,715,000 $10,091,456 0.29% PJ 1025 D Not FDIC Insured 6-17 May Lose Value, Not a Deposit, No Bank Guarantee Not Insured by any Federal Government Agency
Please note that coupon rates are not available for all securities displayed on this report. High Yield Fund As of June 30, 2017
SCHEDULE OF INVESTMENTS
COUPON MATURITY SHARES/ PAR MARKET % TOTAL NET ISSUER RATE DATE VALUE VALUE ASSETS
Crescent Communities LLC/Crescent Ventures Inc 8.88 10/15/2021 9,595,000 $10,074,750 0.29% Kinetic Concepts Inc / KCI USA Inc 7.88 2/15/2021 9,455,000 $9,998,663 0.28% BMC East LLC 5.50 10/1/2024 9,540,000 $9,969,300 0.28% KFC Holding Co/Pizza Hut Holdings LLC/Taco Bell of 5.00 6/1/2024 9,495,000 $9,898,538 0.28% America LLC Sprint Corp 7.13 6/15/2024 8,840,000 $9,834,500 0.28% Cornerstone Chemical Co 9.38 3/15/2018 9,815,000 $9,815,000 0.28% Netflix Inc 4.38 11/15/2026 9,805,000 $9,780,488 0.28% PHI Inc 5.25 3/15/2019 10,570,000 $9,777,250 0.28% GW Honos Security Corp 8.75 5/15/2025 9,320,000 $9,751,050 0.28% Ascent Resources Utica Holdings LLC / ARU Finance Corp 10.00 4/1/2022 9,685,000 $9,685,000 0.27% Unitymedia GmbH 6.13 1/15/2025 8,940,000 $9,588,150 0.27% NOVA Chemicals Corp 5.25 6/1/2027 9,635,000 $9,586,825 0.27% Tutor Perini Corp 6.88 5/1/2025 9,090,000 $9,567,225 0.27% Freeport-McMoRan Inc 4.55 11/14/2024 10,150,000 $9,566,375 0.27% WideOpenWest Finance LLC, Term Loan B 4.70 8/11/2023 9,578,182 $9,561,899 0.27% Beazer Homes USA Inc 8.75 3/15/2022 8,445,000 $9,416,175 0.27% ARD Finance SA 7.13 9/15/2023 8,785,000 $9,377,109 0.27% Popular Inc 7.00 7/1/2019 8,920,000 $9,366,000 0.27% ACCO Brands Corp 5.25 12/15/2024 8,985,000 $9,333,169 0.26% Lennar Corp 4.13 12/1/2018 9,125,000 $9,330,313 0.26% BI-LO LLC / BI-LO Finance Corp 9.25 2/15/2019 10,875,000 $9,298,125 0.26% Constellium NV 6.63 3/1/2025 9,670,000 $9,259,025 0.26% Prestige Brands Inc, Term Loan B4 3.98 1/20/2024 9,196,563 $9,229,762 0.26% CIT Group Inc 5.00 8/15/2022 8,500,000 $9,158,750 0.26% Prime Security Services Borrower LLC, Term Loan 7.95 5/2/2022 9,154,575 $9,148,899 0.26% Lions Gate Entertainment Corp 5.88 11/1/2024 8,635,000 $9,088,338 0.26% Fly Leasing Ltd 6.38 10/15/2021 8,545,000 $8,961,569 0.25% Radiate Holdco LLC, Term Loan 4.23 12/9/2023 9,082,238 $8,944,914 0.25% Cemex SAB de CV 5.70 1/11/2025 8,420,000 $8,935,725 0.25% Consolidated Energy Finance SA 6.75 10/15/2019 8,753,000 $8,928,060 0.25% Boise Cascade Co 5.63 9/1/2024 8,655,000 $8,914,650 0.25% HCA Inc 5.88 3/15/2022 8,015,000 $8,886,631 0.25% Century Communities Inc 5.88 7/15/2025 8,925,000 $8,880,375 0.25% CHS/Community Health Systems Inc 5.13 8/1/2021 8,755,000 $8,864,438 0.25% Dana Inc 5.50 12/15/2024 8,530,000 $8,849,875 0.25% GEO Group Inc/The, Term Loan B 3.33 3/15/2024 8,815,000 $8,820,553 0.25% Ziggo Bond Finance BV 6.00 1/15/2027 8,705,000 $8,802,931 0.25% BWAY Holding Co 7.25 4/15/2025 8,625,000 $8,754,375 0.25% Summit Midstream Holdings LLC / Summit Midstream 5.75 4/15/2025 8,665,000 $8,708,325 0.25% Finance Corp Fresenius Medical Care US Finance II Inc 5.88 1/31/2022 7,825,000 $8,666,188 0.25% Dell International LLC / EMC Corp 3.48 6/1/2019 8,455,000 $8,652,644 0.25% JBS USA LUX SA / JBS USA Finance Inc 5.75 6/15/2025 9,165,000 $8,615,100 0.24% Lennar Corp 4.50 11/15/2019 8,300,000 $8,611,250 0.24%
PJ 1025 D Not FDIC Insured 6-17 May Lose Value, Not a Deposit, No Bank Guarantee Not Insured by any Federal Government Agency
Please note that coupon rates are not available for all securities displayed on this report. High Yield Fund As of June 30, 2017
SCHEDULE OF INVESTMENTS
COUPON MATURITY SHARES/ PAR MARKET % TOTAL NET ISSUER RATE DATE VALUE VALUE ASSETS
Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc 6.00 2/15/2025 8,200,000 $8,610,000 0.24% Carrizo Oil & Gas Inc 7.50 9/15/2020 8,425,000 $8,572,438 0.24% Academy Ltd, Term Loan B 5.20 6/16/2022 11,007,389 $8,508,712 0.24% Vale Overseas Ltd 6.25 8/10/2026 7,850,000 $8,468,188 0.24% Credit Acceptance Corp 7.38 3/15/2023 8,140,000 $8,465,600 0.24% Gulfport Energy Corp 6.38 5/15/2025 8,585,000 $8,456,225 0.24% WildHorse Resource Development Corp 6.88 2/1/2025 8,995,000 $8,455,300 0.24% Emerald Performance Materials LLC, Term Loan 8.98 7/22/2022 8,475,000 $8,451,185 0.24% Energy Transfer Equity LP 5.88 1/15/2024 7,960,000 $8,437,600 0.24% Barclays PLC 4.84 5/9/2028 8,205,000 $8,387,889 0.24% Reynolds Group Issuer Inc / Reynolds Group Issuer LLC / 5.75 10/15/2020 8,115,000 $8,304,404 0.24% Reynolds Group Issuer (Luxembourg) S.A. CCM Merger Inc 6.00 3/15/2022 8,090,000 $8,292,250 0.24% MPH Acquisition Holdings LLC, Term Loan B 4.30 6/7/2023 8,260,281 $8,253,838 0.23% Flex Acquisition Co Inc 6.88 1/15/2025 7,930,000 $8,247,200 0.23% Unit Corp 6.63 5/15/2021 8,600,000 $8,234,500 0.23% Kloeckner Pentaplast of America Inc, Term Loan B 0.00 6/29/2022 8,300,000 $8,206,625 0.23% Ahern Rentals Inc 7.38 5/15/2023 10,000,000 $8,200,000 0.23% Tops Holding LLC / Tops Markets II Corp 8.00 6/15/2022 9,970,000 $8,187,863 0.23% Sprint Capital Corp 6.88 11/15/2028 7,235,000 $8,042,209 0.23% Lennar Corp 4.75 11/15/2022 7,561,000 $8,033,563 0.23% SFR Group SA 6.00 5/15/2022 7,655,000 $8,009,044 0.23% Navient Corp 5.88 3/25/2021 7,480,000 $7,900,750 0.22% MEG Energy Corp 6.50 1/15/2025 8,585,000 $7,812,350 0.22% KFC Holding Co/Pizza Hut Holdings LLC/Taco Bell of 5.25 6/1/2026 7,420,000 $7,809,550 0.22% America LLC FMG Resources August 2006 Pty Ltd 9.75 3/1/2022 6,820,000 $7,766,275 0.22% Archrock Partners LP / Archrock Partners Finance Corp 6.00 10/1/2022 7,955,000 $7,716,350 0.22% Lions Gate Entertainment Corp, Term Loan B 4.23 10/13/2023 7,655,125 $7,695,774 0.22% Pinnacle Entertainment Inc 5.63 5/1/2024 7,281,000 $7,572,240 0.21% EP Energy LLC / Everest Acquisition Finance Inc 9.38 5/1/2020 9,580,000 $7,556,225 0.21% A Schulman Inc 6.87 6/1/2023 7,105,000 $7,513,538 0.21% Jaguar Land Rover Automotive PLC 3.50 3/15/2020 7,400,000 $7,492,500 0.21% Elwood Energy LLC 8.16 7/5/2026 6,652,385 $7,450,672 0.21% Carmike Cinemas Inc 6.00 6/15/2023 7,040,000 $7,427,200 0.21% Reynolds Group Issuer Inc / Reynolds Group Issuer LLC / 5.13 7/15/2023 7,145,000 $7,421,869 0.21% Reynolds Group Issuer (Luxembourg) S.A. Micron Technology Inc 7.50 9/15/2023 6,605,000 $7,384,390 0.21% Ultra Resources Inc 6.88 4/15/2022 7,440,000 $7,384,200 0.21% Allison Transmission Inc 5.00 10/1/2024 7,180,000 $7,359,500 0.21% Chesapeake Energy Corp 8.00 12/15/2022 6,948,000 $7,347,510 0.21% American Equity Investment Life Holding Co 5.00 6/15/2027 7,070,000 $7,277,681 0.21% iStar Inc 4.88 7/1/2018 7,230,000 $7,275,404 0.21% Icahn Enterprises LP / Icahn Enterprises Finance Corp 5.88 2/1/2022 7,100,000 $7,268,625 0.21% Icahn Enterprises LP / Icahn Enterprises Finance Corp 6.00 8/1/2020 7,060,000 $7,267,388 0.21%
PJ 1025 D Not FDIC Insured 6-17 May Lose Value, Not a Deposit, No Bank Guarantee Not Insured by any Federal Government Agency
Please note that coupon rates are not available for all securities displayed on this report. High Yield Fund As of June 30, 2017
SCHEDULE OF INVESTMENTS
COUPON MATURITY SHARES/ PAR MARKET % TOTAL NET ISSUER RATE DATE VALUE VALUE ASSETS
Sunoco LP / Sunoco Finance Corp 5.50 8/1/2020 7,070,000 $7,246,750 0.21% Team Health Holdings Inc 6.38 2/1/2025 7,425,000 $7,202,250 0.20% Alliance Resource Operating Partners LP / Alliance 7.50 5/1/2025 6,830,000 $7,180,038 0.20% Resource Finance Corp MGM Resorts International 6.00 3/15/2023 6,510,000 $7,177,275 0.20% Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp 5.25 5/15/2027 6,980,000 $7,150,138 0.20% MSCI Inc 5.25 11/15/2024 6,675,000 $7,075,500 0.20% iStar Inc 6.50 7/1/2021 6,745,000 $7,065,388 0.20% MGM Resorts International 6.63 12/15/2021 6,290,000 $7,060,525 0.20% GTT Communications Inc, Term Loan 5.23 12/13/2023 7,047,119 $7,060,367 0.20% Jaguar Land Rover Automotive PLC 5.63 2/1/2023 6,780,000 $7,051,200 0.20% T-Mobile USA Inc 4.00 4/15/2022 6,740,000 $7,014,318 0.20% L Brands Inc 6.88 11/1/2035 7,245,000 $6,991,425 0.20% NRG Energy Inc 6.25 5/1/2024 6,760,000 $6,827,600 0.19% WMG Acquisition Corp 6.75 4/15/2022 6,450,000 $6,780,563 0.19% Hill-Rom Holdings Inc 5.75 9/1/2023 6,440,000 $6,778,100 0.19% Reynolds Group Issuer Inc / Reynolds Group Issuer LLC / 4.66 7/15/2021 6,620,000 $6,727,575 0.19% Reynolds Group Issuer (Luxembourg) S.A. NRG Energy Inc 7.25 5/15/2026 6,470,000 $6,696,450 0.19% Iron Mountain Inc 4.38 6/1/2021 6,430,000 $6,671,125 0.19% Halcon Resources Corp 6.75 2/15/2025 7,385,000 $6,646,500 0.19% ZF North America Capital Inc 4.75 4/29/2025 6,300,000 $6,646,500 0.19% Whiting Petroleum Corp 6.25 4/1/2023 7,170,000 $6,578,475 0.19% Chesapeake Energy Corp, Term Loan 1.5 8.69 8/17/2021 6,215,000 $6,566,148 0.19% CCO Holdings LLC / CCO Holdings Capital Corp 5.13 5/1/2027 6,355,000 $6,497,988 0.18% Blue Cube Spinco Inc 9.75 10/15/2023 5,350,000 $6,473,500 0.18% Teck Resources Ltd 3.75 2/1/2023 6,645,000 $6,470,569 0.18% Whiting Petroleum Corp 5.75 3/15/2021 6,815,000 $6,406,100 0.18% Compiler Finance Sub Inc 7.00 5/1/2021 12,770,000 $6,400,963 0.18% Vale Overseas Ltd 6.88 11/21/2036 5,860,000 $6,284,850 0.18% Michaels Stores Inc, Term Loan B1 3.94 1/27/2023 6,299,637 $6,279,982 0.18% Seadrill Operating LP, Term Loan B 4.30 2/12/2021 9,661,440 $6,144,676 0.17% Alcoa Nederland Holding BV 7.00 9/30/2026 5,585,000 $6,129,538 0.17% EP Energy LLC / Everest Acquisition Finance Inc 6.38 6/15/2023 10,430,000 $6,127,625 0.17% Park Aerospace Holdings Ltd 5.50 2/15/2024 5,810,000 $6,068,545 0.17% Fresenius Medical Care US Finance II Inc 4.75 10/15/2024 5,770,000 $6,058,500 0.17% Sappi Papier Holding GmbH 7.50 6/15/2032 5,985,000 $6,044,850 0.17% AK Steel Corp 7.50 7/15/2023 5,570,000 $6,015,600 0.17% WMG Acquisition Corp 5.00 8/1/2023 5,810,000 $5,955,250 0.17% Penn National Gaming Inc 5.63 1/15/2027 5,800,000 $5,908,750 0.17% Valeant Pharmaceuticals International Inc 5.63 12/1/2021 6,525,000 $5,888,813 0.17% American Builders & Contractors Supply Co Inc 5.75 12/15/2023 5,550,000 $5,869,125 0.17% Pinnacle Operating Corp 11,240,767 $5,755,273 0.16% Boyd Gaming Corp 6.88 5/15/2023 5,360,000 $5,735,200 0.16% Level 3 Communications Inc 5.75 12/1/2022 5,470,000 $5,675,125 0.16%
PJ 1025 D Not FDIC Insured 6-17 May Lose Value, Not a Deposit, No Bank Guarantee Not Insured by any Federal Government Agency
Please note that coupon rates are not available for all securities displayed on this report. High Yield Fund As of June 30, 2017
SCHEDULE OF INVESTMENTS
COUPON MATURITY SHARES/ PAR MARKET % TOTAL NET ISSUER RATE DATE VALUE VALUE ASSETS
Navient Corp 6.75 6/25/2025 5,490,000 $5,658,159 0.16% Aircastle Ltd 5.50 2/15/2022 5,165,000 $5,629,850 0.16% Avolon TLB Borrower 1 US LLC, Term Loan B2 3.96 1/20/2022 5,540,000 $5,572,409 0.16% Oasis Petroleum Inc 6.88 3/15/2022 5,645,000 $5,475,650 0.16% Lamb Weston Holdings Inc 4.88 11/1/2026 5,280,000 $5,471,400 0.16% Cemex SAB de CV 7.75 4/16/2026 4,705,000 $5,381,344 0.15% Lennar Corp 4.88 12/15/2023 5,060,000 $5,379,413 0.15% Weatherford International Ltd 8.25 6/15/2023 5,345,000 $5,345,000 0.15% Weatherford International Ltd 9.88 2/15/2024 4,975,000 $5,198,875 0.15% Virgin Media Finance PLC 5.75 1/15/2025 5,000,000 $5,187,500 0.15% Fresenius Medical Care US Finance II Inc 6.50 9/15/2018 4,895,000 $5,142,785 0.15% Teleflex Inc 4.88 6/1/2026 5,020,000 $5,132,950 0.15% Lennar Corp 4.50 4/30/2024 4,865,000 $5,028,464 0.14% CCM Merger Inc, Term Loan B 3.98 8/4/2021 5,009,979 $5,021,252 0.14% Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc 7.25 5/15/2024 4,540,000 $4,965,625 0.14% CenturyLink Inc 5.63 4/1/2025 4,870,000 $4,861,867 0.14% Alcoa Nederland Holding BV 6.75 9/30/2024 4,460,000 $4,839,100 0.14% Kinetic Concepts Inc, Term Loan B 4.55 1/26/2024 4,865,000 $4,838,632 0.14% Tesoro Logistics LP / Tesoro Logistics Finance Corp 5.25 1/15/2025 4,605,000 $4,835,250 0.14% GTT Communications Inc 7.88 12/31/2024 4,505,000 $4,820,350 0.14% JC Penney Corp Inc 5.65 6/1/2020 4,895,000 $4,815,456 0.14% Post Holdings Inc, Term Loan B 3.47 5/17/2024 4,800,000 $4,803,408 0.14% CIT Group Inc 5.80 12/31/2049 4,515,000 $4,706,888 0.13% CSC Holdings LLC 6.63 10/15/2025 4,225,000 $4,647,923 0.13% Level 3 Financing Inc 5.13 5/1/2023 4,440,000 $4,609,253 0.13% Navient Corp 6.63 7/26/2021 4,245,000 $4,568,681 0.13% T-Mobile USA Inc 5.38 4/15/2027 4,195,000 $4,499,138 0.13% Navient Corp 6.13 3/25/2024 4,340,000 $4,470,200 0.13% CenturyLink Inc 7.50 4/1/2024 4,005,000 $4,385,475 0.12% WMG Acquisition Corp 4.88 11/1/2024 4,270,000 $4,355,400 0.12% T-Mobile USA Inc 6.50 1/15/2024 4,025,000 $4,326,875 0.12% T-Mobile USA Inc 6.13 1/15/2022 4,110,000 $4,319,355 0.12% Cemex SAB de CV 6.13 5/5/2025 4,000,000 $4,310,000 0.12% Comfort Holding LLC, Term Loan 5.88 2/2/2024 4,305,000 $4,299,619 0.12% Scientific Games International Inc 7.00 1/1/2022 4,020,000 $4,281,300 0.12% Tenet Healthcare Corp 7.50 1/1/2022 3,920,000 $4,252,416 0.12% HCA Inc 5.25 4/15/2025 3,915,000 $4,208,625 0.12% First Quality Finance Co Inc 5.00 7/1/2025 4,070,000 $4,151,400 0.12% Virgin Media Secured Finance PLC 5.25 1/15/2026 3,965,000 $4,126,812 0.12% Clearwater Seafoods Inc 6.88 5/1/2025 3,920,000 $4,125,800 0.12% HCA Inc 5.25 6/15/2026 3,825,000 $4,125,263 0.12% NGL Energy Partners LP / NGL Energy Finance Corp 6.88 10/15/2021 4,155,000 $4,123,838 0.12% Garda World Security Corp, Term Loan B 5.23 5/12/2024 4,093,894 $4,117,762 0.12% Antero Midstream Partners LP / Antero Midstream Finance 5.38 9/15/2024 4,025,000 $4,115,563 0.12% Corp PJ 1025 D Not FDIC Insured 6-17 May Lose Value, Not a Deposit, No Bank Guarantee Not Insured by any Federal Government Agency
Please note that coupon rates are not available for all securities displayed on this report. High Yield Fund As of June 30, 2017
SCHEDULE OF INVESTMENTS
COUPON MATURITY SHARES/ PAR MARKET % TOTAL NET ISSUER RATE DATE VALUE VALUE ASSETS
Claire's Stores Inc 9.00 3/15/2019 8,139,000 $4,110,195 0.12% Centene Corp 5.63 2/15/2021 3,930,000 $4,097,025 0.12% Park-Ohio Industries Inc 6.63 4/15/2027 3,875,000 $4,068,750 0.12% HD Supply Inc 5.75 4/15/2024 3,825,000 $4,064,063 0.12% Goodman Networks Inc 8.00 5/11/2022 4,797,000 $4,029,480 0.11% Chesapeake Energy Corp 8.00 6/15/2027 4,075,000 $4,003,688 0.11% KFC Holding Co/Pizza Hut Holdings LLC/Taco Bell of 4.75 6/1/2027 3,905,000 $3,987,981 0.11% America LLC Catlin Insurance Co Ltd 4.13 7/29/2049 4,100,000 $3,956,500 0.11% FMG Resources August 2006 Pty Ltd 5.13 5/15/2024 3,885,000 $3,885,000 0.11% Altice US Finance I Corp 5.50 5/15/2026 3,675,000 $3,858,750 0.11% Micron Technology Inc, Term Loan B 3.80 4/26/2022 3,790,428 $3,818,060 0.11% Tenet Healthcare Corp 6.75 6/15/2023 3,765,000 $3,765,000 0.11% First Quantum Minerals Ltd 7.50 4/1/2025 3,850,000 $3,763,375 0.11% CenturyLink Inc, Term Loan B 4.13 1/15/2025 3,725,000 $3,680,524 0.10% Navistar Inc, Term Loan B 5.09 8/7/2020 3,621,616 $3,660,114 0.10% Jaguar Land Rover Automotive PLC 4.25 11/15/2019 3,550,000 $3,638,750 0.10% THC Escrow Corp III 4.63 7/15/2024 3,615,000 $3,624,761 0.10% MSCI Inc 5.75 8/15/2025 3,315,000 $3,590,543 0.10% Bombardier Inc 6.13 1/15/2023 3,570,000 $3,578,925 0.10% Oasis Petroleum Inc 6.50 11/1/2021 3,655,000 $3,545,350 0.10% Eldorado Resorts Inc 6.00 4/1/2025 3,340,000 $3,540,400 0.10% JC Penney Corp Inc 5.88 7/1/2023 3,550,000 $3,523,375 0.10% Chesapeake Energy Corp 8.00 1/15/2025 3,530,000 $3,494,700 0.10% Intrawest Resorts Holdings Inc, Term Loan 0.00 7/5/2024 3,442,500 $3,425,288 0.10% Weatherford International Ltd 4.50 4/15/2022 3,855,000 $3,402,038 0.10% CSC Holdings LLC 5.50 4/15/2027 3,195,000 $3,378,713 0.10% Aleris International Inc 9.50 4/1/2021 3,280,000 $3,372,791 0.10% Chaparral Energy Inc - B Shares 170,356 $3,364,531 0.10% JBS USA LUX SA / JBS USA Finance Inc 7.25 6/1/2021 3,338,000 $3,336,331 0.09% iStar Inc 6.00 4/1/2022 3,170,000 $3,249,250 0.09% Netflix Inc 3.63 5/15/2027 2,750,000 $3,191,959 0.09% Altice Financing SA 6.63 2/15/2023 3,000,000 $3,182,820 0.09% Level 3 Financing Inc, Term Loan B 3.42 2/17/2024 3,140,000 $3,145,903 0.09% Virgin Media Finance PLC 6.00 10/15/2024 2,940,000 $3,116,400 0.09% IHO Verwaltungs GmbH 4.75 9/15/2026 2,985,000 $3,018,581 0.09% CCO Holdings LLC / CCO Holdings Capital Corp 5.50 5/1/2026 2,840,000 $3,013,950 0.09% Park Aerospace Holdings Ltd 5.25 8/15/2022 2,865,000 $2,994,842 0.08% United Airlines 2014-1 Class B Pass Through Trust 4.75 10/11/2023 2,853,865 $2,957,318 0.08% Frontier Communications Corp 7.13 1/15/2023 3,510,000 $2,922,075 0.08% Tenet Healthcare Corp 4.63 7/15/2024 2,885,000 $2,888,606 0.08% CNO Financial Group Inc 4.50 5/30/2020 2,770,000 $2,873,875 0.08% HCA Healthcare Inc 6.25 2/15/2021 2,480,000 $2,709,400 0.08% MPT Operating Partnership LP / MPT Finance Corp 5.25 8/1/2026 2,575,000 $2,676,944 0.08% Carrizo Oil & Gas Inc 8.25 7/15/2025 2,610,000 $2,668,725 0.08% PJ 1025 D Not FDIC Insured 6-17 May Lose Value, Not a Deposit, No Bank Guarantee Not Insured by any Federal Government Agency
Please note that coupon rates are not available for all securities displayed on this report. High Yield Fund As of June 30, 2017
SCHEDULE OF INVESTMENTS
COUPON MATURITY SHARES/ PAR MARKET % TOTAL NET ISSUER RATE DATE VALUE VALUE ASSETS
IHS Markit Ltd 4.75 2/15/2025 2,470,000 $2,652,163 0.08% HD Supply Inc 5.25 12/15/2021 2,525,000 $2,649,672 0.08% AK Steel Corp 7.63 10/1/2021 2,465,000 $2,564,389 0.07% Air 2 US 8.63 10/1/2020 2,391,198 $2,498,802 0.07% Teck Resources Ltd 8.50 6/1/2024 2,085,000 $2,408,175 0.07% DISH DBS Corp 5.88 7/15/2022 2,230,000 $2,397,250 0.07% EP Energy LLC / Everest Acquisition Finance Inc 8.00 11/29/2024 2,370,000 $2,364,075 0.07% American Airlines 2015-1 Class B Pass Through Trust 3.70 11/1/2024 2,258,838 $2,236,249 0.06% Tesoro Logistics LP / Tesoro Logistics Finance Corp 6.25 10/15/2022 2,075,000 $2,204,688 0.06% ZF North America Capital Inc 4.50 4/29/2022 2,030,000 $2,131,500 0.06% UPCB Finance IV Ltd 5.38 1/15/2025 2,000,000 $2,092,500 0.06% Reynolds Group Issuer Inc / Reynolds Group Issuer LLC / 7.00 7/15/2024 1,950,000 $2,091,794 0.06% Reynolds Group Issuer (Luxembourg) S.A. Crown Americas LLC / Crown Americas Capital Corp V 4.25 9/30/2026 2,000,000 $1,995,000 0.06% NRG Energy Inc 6.63 1/15/2027 1,960,000 $1,962,450 0.06% Aircastle Ltd 4.13 5/1/2024 1,920,000 $1,957,200 0.06% Freeport-McMoRan Inc 6.88 2/15/2023 1,845,000 $1,947,619 0.06% CNO Financial Group Inc 5.25 5/30/2025 1,830,000 $1,937,970 0.05% Tesoro Logistics LP / Tesoro Logistics Finance Corp 6.38 5/1/2024 1,750,000 $1,894,375 0.05% Adria Topco BV, PIK Term Loan 9.00 6/4/2019 1,598,372 $1,893,277 0.05% Commercial Metals Co 5.38 7/15/2027 1,855,000 $1,889,781 0.05% Lamb Weston Holdings Inc 4.63 11/1/2024 1,800,000 $1,854,000 0.05% EP Energy LLC / Everest Acquisition Finance Inc 8.00 2/15/2025 2,475,000 $1,843,875 0.05% Doric Nimrod Air Finance Alpha Ltd 2012-1 Class B Pass 6.50 5/30/2021 1,771,190 $1,823,754 0.05% Through Trust Ziggo Bond Finance BV 4.63 1/15/2025 1,500,000 $1,813,195 0.05% CCO Holdings LLC / CCO Holdings Capital Corp 5.75 2/15/2026 1,680,000 $1,797,600 0.05% Intrawest Resorts Holdings Inc, Term Loan 0.00 7/5/2024 1,804,500 $1,795,478 0.05% Dana Financing Luxembourg Sarl 6.50 6/1/2026 1,680,000 $1,788,150 0.05% Indiantown Cogeneration LP 9.77 12/15/2020 1,643,261 $1,784,793 0.05% Lamar Media Corp 5.88 2/1/2022 1,660,000 $1,713,950 0.05% US Airways 2001-1G Pass Through Trust 7.08 9/20/2022 1,551,858 $1,656,609 0.05% Precision Drilling Corp 7.75 12/15/2023 1,505,000 $1,497,475 0.04% Comfort Holding LLC, Term Loan 11.13 1/31/2025 1,490,000 $1,430,400 0.04% Navient Corp 5.00 10/26/2020 1,360,000 $1,411,000 0.04% Impera Holdings SA 5.38 9/15/2022 1,150,000 $1,361,089 0.04% Dell International LLC / EMC Corp 5.88 6/15/2021 1,200,000 $1,257,000 0.04% Halcon Resources Corp 12.00 2/15/2022 1,082,000 $1,222,660 0.03% Ally Financial Inc 4.25 4/15/2021 1,095,000 $1,133,325 0.03% GLP Capital LP / GLP Financing II Inc 4.38 4/15/2021 945,000 $992,250 0.03% j2 Cloud Services LLC / j2 Global Co-Obligor Inc 6.00 7/15/2025 915,000 $942,450 0.03% Acadia Healthcare Co Inc, Term Loan B2 3.52 2/16/2023 876,650 $881,910 0.03% Zayo Group LLC, Term Loan B2 3.72 1/12/2024 804,333 $804,671 0.02% Midwest Vanadium Pty Ltd 0.00 2/15/2018 10,696,322 $267,408 0.01% Chaparral Energy Inc 6,193 $122,312 0.00%
PJ 1025 D Not FDIC Insured 6-17 May Lose Value, Not a Deposit, No Bank Guarantee Not Insured by any Federal Government Agency
Please note that coupon rates are not available for all securities displayed on this report. High Yield Fund As of June 30, 2017
SCHEDULE OF INVESTMENTS
COUPON MATURITY SHARES/ PAR MARKET % TOTAL NET ISSUER RATE DATE VALUE VALUE ASSETS
Chesapeake Oil Op/Fin Escrow Shares 0.00 11/15/2019 11,835,000 $0 0.00% Goodman Networks Inc 286,712 $0 0.00% Goodman Networks Inc 341,120 $0 0.00% Ogden Corp 5,000,000 $0 0.00% Washington Mutual Bank / Henderson NV 0.00 1/15/2013 3,000,000 $0 0.00% Washington Mutual Bank / Henderson NV 0.00 6/15/2011 3,500,000 $0 0.00% Washington Mutual Bank / Henderson NV 0.00 1/15/2015 2,000,000 $0 0.00% Fresh Express Delivery Holding Group Co Ltd 0.00 11/9/2009 46,500,000 $0 0.00% Fresh Express Delivery Holding Group Co Ltd 0.00 10/18/2010 245,000,000 $0 0.00% CenturyLink Inc, Bridge Term Loan 0.00 2/8/2018 -10,000,000 $0 0.00% Radiate Holdco LLC, Bridge Term Loan 0.00 2/15/2025 -14,000,000 $0 0.00%
Total Market Value $ 3,507,624,784 99.53%
Cash 16,568,751 0.47%
Total Net Assets $ 3,524,193,535 100.00%
PJ 1025 D Not FDIC Insured 6-17 May Lose Value, Not a Deposit, No Bank Guarantee Not Insured by any Federal Government Agency
Please note that coupon rates are not available for all securities displayed on this report. High Yield Fund As of June 30, 2017
While the underlying securities of this investment option may be guaranteed by the U.S. government as to timely payment of principal and interest, this investment option is not guaranteed.
Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Lower-rated securities are subject to additional credit and default risks. International investing involves increased risks due to currency fluctuations, political or social instability, and differences in accounting standards. REIT securities are subject to risk factors associated with the real estate industry and tax factors of REIT registration.
International and global investment options are subject to additional risk due to fluctuating exchange rates, foreign accounting and financial policies, and other economic and political environments.
Portfolio holdings may not reflect the current portfolio composition. The holdings listed do not constitute a recommendation to purchase or sell a particular security.
Insurance products and plan administrative services, if applicable, are provided by Principal Life Insurance Company. Principal mutual funds are part of the Principal Funds, Inc. series. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities are offered through Principal Securities, Inc., 800-547-7754, member SIPC and/or independent broker/dealers. Securities sold by a Principal Securities Registered Representative are offered through Principal Securities. Principal Funds Distributor, Principal Securities and Principal Life are members of Principal Financial Group®, Des Moines, IA 50392. Certain investment options may not be available in all states or U.S. commonwealths.
Investors should carefully consider a mutual fund’s investment objectives, risks, charges, and expenses prior to investing. A prospectus, or summary prospectus if available, containing this and other information can be obtained by contacting a financial professional, visiting principal.com, or calling 1-800-547-7754. Read the prospectus carefully before investing.
A mutual fund's share price and investment return will vary with market conditions, and the principal value of an investment when you sell your shares may be more or less than the original cost. Fixed-income and asset allocation investment options that invest in mortgage securities are subject to increased risk due to real estate exposure.
High yield investment options are subject to greater credit risk associated with high yield bonds.
Information is current as of the creation of this piece. Keep in mind that portfolio holdings are subject to risk.
PJ 1025 D Not FDIC Insured 6-17 May Lose Value, Not a Deposit, No Bank Guarantee Not Insured by any Federal Government Agency
Please note that coupon rates are not available for all securities displayed on this report.