Fund Holdings March 31, 2021

Our Funds Daily Income Fund (HDIXX) Short-Term Government Securities Fund (HOSGX) Short-Term Bond Fund (HOSBX) Intermediate Bond Fund (HOIBX) Stock Index Fund (HSTIX) Value Fund (HOVLX) Growth Fund (HNASX) International Equity Fund (HISIX) Small-Company Stock Fund (HSCSX) Table of Contents

Daily Income Fund...... 1 Short-Term Government Securities Fund ...... 3 Short-Term Bond Fund...... 7 Intermediate Bond Fund ...... 15 Stock Index Fund...... 25 S&P 500 Index Master Portfolio...... 26 Value Fund ...... 35 Growth Fund...... 37 International Equity Fund ...... 39 Small-Company Stock Fund...... 42 Portfolio of Investments Daily Income Fund | March 31, 2021 | (Unaudited)

U.S. Government & Agency Obligations | 74.0% of portfolio Interest Rate / Yield Maturity Date Face Amount Value Federal Farm Credit Bank .% // $ ,, $ ,, Federal Farm Credit Bank .(a) // ,, ,, Federal Home Loan Bank . // ,, ,, Federal Home Loan Bank . // , , Federal Home Loan Bank . // , , Federal Home Loan Bank . // , , Federal Home Loan Bank . // , , Federal National Mortgage Assoc. . // ,, ,, Tunisia Government AID Bonds . // ,, ,, U.S. International Development Finance Corp. .(a) // ,, ,, U.S. International Development Finance Corp. .(a) // ,, ,, U.S. Treasury Bill . // ,, ,, U.S. Treasury Bill . // ,, ,, U.S. Treasury Bill . // ,, ,, U.S. Treasury Bill . // ,, ,, U.S. Treasury Bill . // ,, ,, U.S. Treasury Bill . // ,, ,, U.S. Treasury Bill . // ,, ,, U.S. Treasury Bill . // ,, ,, U.S. Treasury Bill . // ,, ,, U.S. Treasury Bill . // ,, ,, U.S. Treasury Bill . // ,, ,, U.S. Treasury Bill . // ,, ,, U.S. Treasury Bill . // ,, ,, U.S. Treasury Bill . // ,, ,, U.S. Treasury Note . // ,, ,, U.S. Treasury Note . // ,, ,, U.S. Treasury Note . // ,, ,, U.S. Treasury Note . // ,, ,, U.S. Treasury Note . // ,, ,, U.S. Treasury Note . // ,, ,, Total U.S. Government & Agency Obligations (Cost $128,954,538) ,, Money Market Fund | 26.0% of portfolio Shares State Street Institutional U.S. Government Money Market Fund Premier Class .(b) ,, ,, Total Money Market Fund (Cost $45,375,906) ,,

Total Investments in Securities (Cost $174,330,444) | 100.0% $,,

(a) Variable coupon rate as of March , . (b) -day yield at March , . At March 31, 2021, the cost of investment securities for tax purposes was $174,330,444. There were no unrealized gains or losses. Accounting principles generally accepted in the United States (GAAP) establish a disclosure hierarchy that categorized the inputs used to value assets and liabilities at measurement date. These inputs are summarized into three broad levels as follows: Level 1 - quoted prices in active markets for identical investments; Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and

Portfolio of Investments | Daily Income Fund | March 31, 2021 | (Unaudited) | (Continued)

Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair valuation of investments). The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy during the period. For more information regarding the Fund’s valuation policies please refer to the Fund’s most recent financial report.

Daily Income Fund Level Level Level Total U.S. Government & Agency Obligations...... $ — $,, $— $,, Money Market Fund...... ,, — — ,, Total $,, $,, $— $,,

Portfolio of Investments Short-Term Government Securities Fund | March 31, 2021 | (Unaudited)

Corporate Bonds Guaranteed by Export-Import Bank of the United States | 54.4% of portfolio Interest Rate / Yield Maturity Date Face Amount Value Consumer Discretionary | 0.1% Ethiopian Leasing (2012) LLC .% // $ , $ , Total Consumer Discretionary ,

Energy | 24.3% Petroleos Mexicanos . // ,, ,, Petroleos Mexicanos . // , , Petroleos Mexicanos . // , , Petroleos Mexicanos . // , , Petroleos Mexicanos .(a) // ,, ,, Petroleos Mexicanos . // , , Reliance Industries Ltd. . // ,, ,, Reliance Industries Ltd. . // ,, ,, Reliance Industries Ltd. . // ,, ,, Total Energy ,,

Financials | 30.0% CES MU2 LLC . // ,, ,, Durrah MSN 35603 . // , , Export Leasing 2009 LLC . // , , Helios Leasing II LLC . // ,, ,, Lulwa Ltd. . // ,, ,, Lulwa Ltd. . // , , Mexican Aircraft Finance IV . // , , Mexican Aircraft Finance V . // , , MSN 41079 and 41084 Ltd. . // ,, ,, MSN 41079 and 41084 Ltd. . // , , Penta Aircraft Leasing 2013 LLC . // , , Pluto Aircraft Leasing LLC .(a) // ,, ,, Rimon LLC . // , , Safina Ltd. . // , , Safina Ltd. . // ,, ,, Salmon River Export LLC . // , , Sandalwood 2013 LLC . // , , SantaRosaLeasingLLC . // , , SantaRosaLeasingLLC . // , , Tagua Leasing LLC . // ,, ,, Tagua Leasing LLC . // ,, ,, Tagua Leasing LLC . // , , Thirax 1 LLC . // ,, ,, VCK Lease SA . // , , Washington Aircraft 2 Co. DAC .(a) // ,, ,, Total Financials ,,

Industrials | Less than 0.1% Sayarra Ltd. . // , , Total Industrials , Total Corporate Bonds Guaranteed by Export-Import Bank of the United States (Cost $46,148,023) ,,

Portfolio of Investments | Short-Term Government Securities Fund | March 31, 2021 | (Unaudited) | (Continued)

U.S. Government & Agency Obligations | 35.9% of portfolio Interest Rate / Yield Maturity Date Face Amount Value Private Export Funding Corp. .% // $ ,, $ ,, U.S. Department of Housing & Urban Development . // , , U.S. Department of Housing & Urban Development . // , , U.S. Department of Housing & Urban Development . // , , U.S. International Development Finance Corp. .(b) // ,, ,, U.S. International Development Finance Corp. .(b) // ,, ,, U.S. International Development Finance Corp. .(c) // ,, , U.S. International Development Finance Corp. .(c) // , , U.S. International Development Finance Corp. .(b) // ,, ,, U.S. International Development Finance Corp. . // ,, ,, U.S. International Development Finance Corp. . // ,, ,, U.S. International Development Finance Corp. . // ,, ,, U.S. Treasury Note .(a) // ,, ,, U.S. Treasury Note . // , , U.S. Treasury Note . // ,, ,, U.S. Treasury Note . // , , U.S. Treasury Note . // , , U.S. Treasury Note . // ,, ,, Total U.S. Government & Agency Obligations (Cost $30,587,134) ,, Corporate Bonds–Other | 2.8% of portfolio Communication Services | 0.4% AT&T Inc. .(a) // , , Verizon Communications Inc. .(a) // , , Total Communication Services ,

Financials | 2.1% Athene Global Funding (d) . // , , Bank of America Corp. .(a) // , , Citigroup Inc. .(a) // , , Goldman Sachs Group, Inc. .(a) // , , JP Morgan Chase & Co. .(a) // , , Main Street Capital Corp. . // , , Owl Rock Capital Corp. . // , , Owl Rock Technology Finance Corp. . // , , Total Financials ,,

Real Estate | 0.3% SBA Tower Trust (d) . // , , Total Real Estate , Total Corporate Bonds–Other (Cost $2,402,116) ,, Asset-Backed Securities | 2.4% of portfolio Avid Automobile Receivables Trust 19-1 (d) . // , , Carvana Auto Receivables Trust 20-N1A (d) . // , , Consumer Loan Underlying Bond 19-HP1 (d) . // , , CPS Auto Trust 20-AA (d) . // , , CPS Auto Trust 20-AB (d) . // , , CPS Auto Trust 20-CA (d) . // , , Credit Acceptance Auto Loan Trust 20-3A (d) . // , ,

Portfolio of Investments | Short-Term Government Securities Fund | March 31, 2021 | (Unaudited) | (Continued)

Asset-Backed Securities | 2.4% of portfolio (Continued) Interest Rate / Yield Maturity Date Face Amount Value Foursight Capital Automobile Receivables Trust 19-1 (d) .% // $, $ , Freedom Financial 20-3 (d) . // , , GLS Auto Receivables Trust 19-4 (d) . // , , Marlette Funding Trust 19-3 (d) . // , , Oasis Securitisation 21-1A (d) . // , , SoFi Consumer Loan Program Trust 19-4 (d) . // , , Upstart Securitization Trust 19-3 (d) . // , , Total Asset-Backed Securities (Cost $2,037,786) ,, Municipal Bonds | 2.2% of portfolio California | 0.7% Arcadia California Pension Obligation . // , , Gardena California Pension Obligation . // , , Orange California Pension Obligation . // , , Port of Oakland California . // , , Total California ,

Minnesota | 0.3% Shakopee Minnesota Independent School District No. 720 . // , , Shakopee Minnesota Independent School District No. 720 . // , , Total Minnesota ,

New York | 1.0% New York NY . // , , New York NY . // , , Suffolk County New York . // , , Suffolk County New York . // , , Total New York ,

Texas | 0.2% Harris County Texas Cultural Education Facilities Finance Corp. . // , , Total Texas , Total Municipal Bonds (Cost $1,920,000) ,, Money Market Fund | 2.3% of portfolio Shares State Street Institutional U.S. Government Money Market Fund Premier Class .(e) ,, ,, Total Money Market Fund (Cost $1,924,966) ,,

Total Investments in Securities (Cost $85,020,025) | 100.0% $,,

(a) Variable coupon rate as of March , . (b) Interest is paid at maturity. (c) Zero coupon rate, purchased at a discount.

Portfolio of Investments | Short-Term Government Securities Fund | March 31, 2021 | (Unaudited) | (Continued)

(d) Security was purchased pursuant to Rule A under the Securities Act of and may be resold in transactions exempt from registration, normally to qualified institutional buyers. The securities have been determined to be liquid under criteria established by the Fund's Board of Directors. The total of such securities at period-end amounts to $,, and represents .% of total investments. (e) -day yield at March , . LLC - Limited Liability Company SA - Sociedad Anonima or Societe Anonyme DAC - Designated Activity Company At March 31, 2021, the cost of investment securities for tax purposes was $85,020,025. Net unrealized appreciation of investment securities was $986,390 consisting of unrealized gains of $1,168,508 and unrealized losses of $182,118. Accounting principles generally accepted in the United States (GAAP) establish a disclosure hierarchy that categorized the inputs used to value assets and liabilities at measurement date. These inputs are summarized into three broad levels as follows: Level 1 - quoted prices in active markets for identical investments; Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair valuation of investments). The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy during the period. For more information regarding the Fund’s valuation policies please refer to the Fund’s most recent financial report.

Short-Term Government Securities Fund Level Level Level Total Corporate Bonds Guaranteed by Export-Import Bank of the United States ...... $ — $,, $— $,, U.S. Government & Agency Obligations...... — ,, — ,, Corporate Bonds–Other ...... — ,, — ,, Asset-Backed Securities...... — ,, — ,, Municipal Bonds...... — ,, — ,, Money Market Fund...... ,, — — ,, Total $,, $,, $— $,,

Portfolio of Investments Short-Term Bond Fund | March 31, 2021 | (Unaudited)

Corporate Bonds–Other | 35.0% of portfolio Interest Rate / Yield Maturity Date Face Amount Value Communication Services | 3.2% Baidu Inc. .% // $ ,, $ ,, Verizon Communications Inc. . // ,, ,, Verizon Communications Inc. .(a) // ,, ,, Verizon Communications Inc. . // ,, ,, Verizon Communications Inc. . // ,, ,, Walt Disney Co. (The) . // , , Total Communication Services ,,

Consumer Discretionary | 3.0% American Honda Finance Corp. . // ,, ,, Booking Holdings Inc. . // ,, ,, Booking Holdings Inc. . // ,, ,, Daimler Finance North America LLC (b) . // , , Ford Motor Co. . // ,, ,, Harley-Davidson Financial Services, Inc. (b) . // ,, ,, Ralph Lauren Corp. . // ,, ,, Ralph Lauren Corp. . // , , Volkswagen Group of America, Inc. (b) . // ,, ,, Volkswagen Group of America, Inc. (b) . // ,, ,, Volkswagen Group of America, Inc. (b) . // ,, ,, Total Consumer Discretionary ,,

Consumer Staples | 1.3% 7-Eleven, Inc. (b) .(a) // ,, ,, 7-Eleven, Inc. (b) . // ,, ,, 7-Eleven, Inc. (b) . // ,, ,, 7-Eleven, Inc. (b) . // , , Altria Group, Inc. . // ,, ,, Philip Morris International Inc. . // ,, ,, Total Consumer Staples ,,

Energy | 1.7% BP Capital Markets America Inc. . // ,, ,, Midwest Connector Capital Co. LLC (b) . // ,, ,, Midwest Connector Capital Co. LLC (b) . // ,, ,, Phillips 66 Co. . // ,, ,, Total Energy ,,

Financials | 15.7% Ambac LSNI LLC (b) .(a) // , , American Express Co. .(a) // , , Athene Global Funding (b) . // ,, ,, Bank of America Corp. .(a) // ,, ,, Bank of America Corp. . // ,, ,, Bank of America Corp. . // ,, ,, Bank of America Corp. .(a) // ,, ,, Bank of America Corp. .(a) // ,, ,, Bank of America Corp. .(a) // ,, ,, Bank of America Corp. .(a) // , , Capital One Financial Corp. . // ,, ,, Capital Southwest Corp. . // ,, ,, Citigroup Inc. .(a) // ,, ,,

Portfolio of Investments | Short-Term Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

Corporate Bonds–Other | 35.0% of portfolio (Continued) Interest Rate / Yield Maturity Date Face Amount Value Financials | 15.7% (Continued) Citigroup Inc. .% // $ ,, $ ,, Citigroup Inc. .(a) // ,, ,, Fidus Investment Corp. . // ,, ,, Gladstone Capital Corp. . // , , Goldman Sachs Group, Inc. .(a) // ,, ,, Goldman Sachs Group, Inc. . // ,, ,, Goldman Sachs Group, Inc. .(a) // ,, ,, J.P.Morgan Chase & Co. .(a) // ,, ,, J.P.Morgan Chase & Co. .(a) // ,, ,, J.P.Morgan Chase & Co. .(a) // ,, ,, JP Morgan Chase & Co. .(a) // , , Main Street Capital Corp. . // ,, ,, Main Street Capital Corp. . // ,, ,, Monroe Capital Corp. . // , , Morgan Stanley .(a) // , , Morgan Stanley .(a) // ,, ,, Morgan Stanley .(a) // ,, ,, Morgan Stanley .(a) // , , Oaktree Specialty Lending Corp. . // ,, ,, Owl Rock Technology Finance Corp. . // ,, ,, PACCAR Financial Corp. . // ,, ,, Protective Life Global Funding (b) . // , , SCE Recovery Funding LLC . // ,, ,, Stellus Capital Investment Corp. . // , , Wells Fargo & Co. .(a) // ,, ,, Wells Fargo & Co. .(a) // , , Wells Fargo & Co. .(a) // ,, ,, Total Financials ,,

Health Care | 2.9% AmerisourceBergen Corp. . // ,, ,, Baylor Scott & White Holdings . // ,, , Cigna Corp. .(a) // ,, ,, Cigna Corp. . // ,, ,, Health Care Service Corp. (b) . // ,, ,, Stryker Corp. . // ,, ,, Sutter Health . // , , Total Health Care ,,

Industrials | 1.5% American Airlines Group Inc. . // ,, ,, Burlington Northern & Santa Fe Railway Co. . // , , Caterpillar Financial Services Corp. . // , , Caterpillar Financial Services Corp. . // ,, ,, Delta Air Lines, Inc. (b) . // , ,, Delta Air Lines, Inc. . // , , Waste Management, Inc . // ,, ,, Total Industrials ,,

Information Technology | 0.7% Oracle Corp. . // ,, ,,

Portfolio of Investments | Short-Term Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

Corporate Bonds–Other | 35.0% of portfolio (Continued) Interest Rate / Yield Maturity Date Face Amount Value Information Technology | 0.7% (Continued) PayPal Holdings, Inc. .% // $ ,, $ ,, Total Information Technology ,,

Materials | 0.9% E. I. Du Pont De Nemours and Co. . // , , Georgia-Pacific LLC (b) . // ,, ,, Nucor Corp. . // ,, ,, PPG Industries, Inc. . // ,, ,, Total Materials ,,

Real Estate | 2.1% Federal Realty Investment Trust . // ,, ,, Public Storage, Inc. . // ,, ,, SBA Tower Trust (b) . // ,, ,, SBA Tower Trust (b) . // ,, ,, SBA Tower Trust (b) . // ,, ,, Service Properties Trust . // , ,, Total Real Estate ,,

Utilities | 2.0% Entergy Louisiana, LLC . // ,, ,, NextEra Energy Capital Holdings, Inc. . // , , PPL Electric Utilities Corp. .(a) // ,, ,, San Diego Gas & Electric Co. . // , , Southern California Edison Co. .(a) // ,, ,, Southern California Edison Co. . // ,, ,, Southern California Edison Co. . // ,, ,, Southern California Edison Co. . // ,, ,, Total Utilities ,, Total Corporate Bonds–Other (Cost $197,381,805) ,, U.S. Government & Agency Obligations | 32.4% of portfolio Tennessee Valley Authority .(c) // , , U.S. Department of Housing & Urban Development . // , , U.S. Department of Housing & Urban Development . // , , U.S. International Development Finance Corp. .(d) // ,, ,, U.S. International Development Finance Corp. . // , , U.S. International Development Finance Corp. . // ,, ,, U.S. Treasury Note .(a) // ,, ,, U.S. Treasury Note .(a) // ,, ,, U.S. Treasury Note . // ,, ,, U.S. Treasury Note . // ,, ,, U.S. Treasury Note . // ,, ,, U.S. Treasury Note . // ,, ,, Total U.S. Government & Agency Obligations (Cost $184,807,024) ,, Yankee Bonds | 11.8% of portfolio AerCap Ireland Capital DAC . // , ,

Portfolio of Investments | Short-Term Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

Yankee Bonds | 11.8% of portfolio (Continued) Interest Rate / Yield Maturity Date Face Amount Value Aircastle Ltd. (b) .% // $,, $ ,, América Móvil, SAB de CV . // ,, ,, Antares Holdings LP . // , , Avolon Holdings Funding Ltd. (b) . // , , Avolon Holdings Funding Ltd. (b) . // , , Avolon Holdings Funding Ltd. (b) . // ,, ,, Avolon Holdings Funding Ltd. (b) . // ,, ,, Baidu Inc. . // ,, ,, Banco Bilbao Vizcaya Argentaria SA . // , , Banco Santander SA . // ,, ,, Banco Santander SA . // ,, ,, Bank of Montreal .(a) // ,, ,, Barclays PLC .(a) // ,, ,, Barclays PLC .(a) // ,, ,, Barclays PLC .(a) // ,, ,, BMW Finance NV (b) . // ,, ,, BPCE SA (b) . // ,, ,, Delta and SkyMiles IP Ltd. (b) . // , , Enel Finance International NV (b) . // ,, ,, Enel Finance International NV (b) . // ,, ,, ING Groep NV . // , , Lloyds Banking Group PLC .(a) // ,, ,, Lloyds Banking Group PLC .(a) // ,, ,, Macquarie Group Ltd. (b) .(a) // ,, ,, Mitsubishi UFJ Financial Group, Inc. . // , , Nationwide Building Society (b) .(a) // ,, ,, Nationwide Building Society (b) . // ,, ,, NatWest Group PLC .(a) // , , NatWest Group PLC .(a) // ,, ,, NatWest Group PLC .(a) // ,, ,, Nissan Motor Co., Ltd. (b) . // ,, ,, Panasonic Corp. (b) . // ,, ,, Reckitt Benckiser Treasury Services PLC (b) . // ,, ,, Saudi Arabian Oil Co. (b) . // , , Saudi Arabian Oil Co. (b) . // , , Schlumberger Finance Canada Ltd. . // ,, ,, Siemens Financieringsmaatschappij NV (b) . // , , Sinopec Group Overseas Development (2012) Ltd. (b) . // ,, ,, Standard Chartered PLC (b) .(a) // ,, ,, Sumitomo Mitsui Trust Bank, Ltd. (b) . // ,, ,, Syngenta Finance NV (b) . // , , Tencent Holdings Ltd. (b) . // ,, ,, Tencent Holdings Ltd. (b) . // ,, ,, Tencent Music Entertainment Group . // ,, ,, Total Yankee Bonds (Cost $65,929,406) ,, Asset-Backed Securities | 10.9% of portfolio American Credit Acceptance Receivables Trust 19-1 (b) . // , , American Credit Acceptance Receivables Trust 20-1 (b) . // , , American Credit Acceptance Receivables Trust 20-3A (b) . // , , American Credit Acceptance Receivables Trust 20-3B (b) . // , , Avant Loans Funding Trust 19-B (b) . // , , Avid Automobile Receivables Trust 19-1 (b) . // , , Carvana Auto Receivables Trust 20-N1A (b) . // ,, ,, Consumer Loan Underlying Bond 18-P3 (b) . // , , Consumer Loan Underlying Bond 19-HP1 (b) . // ,, ,,

Portfolio of Investments | Short-Term Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

Asset-Backed Securities | 10.9% of portfolio (Continued) Interest Rate / Yield Maturity Date Face Amount Value Consumer Loan Underlying Bond 19-P1 (b) .% // $ , $ , Consumer Loan Underlying Bond 20-P1 (b) . // , , CoreVest American Finance 20-4 (b) . // , , CPS Auto Trust 20-AA (b) . // , , CPS Auto Trust 20-AB (b) . // ,, ,, CPS Auto Trust 20-CA (b) . // , , Credit Acceptance Auto Loan Trust 18-2A (b) . // , , Credit Acceptance Auto Loan Trust 18-3A (b) . // , , Credit Acceptance Auto Loan Trust 18-3B (b) . // ,, ,, Credit Acceptance Auto Loan Trust 19-1A (b) . // ,, ,, Credit Acceptance Auto Loan Trust 19-1B (b) . // ,, ,, Credit Acceptance Auto Loan Trust 19-1C (b) . // , , Credit Acceptance Auto Loan Trust 20-1A (b) . // ,, ,, Credit Acceptance Auto Loan Trust 20-2A (b) . // , , Credit Acceptance Auto Loan Trust 20-3A (b) . // ,, ,, Credit Acceptance Auto Loan Trust 21-2A (b) . // ,, ,, DT Auto Owner Trust 18-2D (b) . // , , DT Auto Owner Trust 19-1C (b) . // , , DT Auto Owner Trust 20-3A (b) . // ,, ,, Entergy New Orleans Storm Recovery Fund 15-1 . // , , Exeter Automobile Receivables Trust 18-3 (b) . // , , Exeter Automobile Receivables Trust 20-3 . // , , Exeter Automobile Receivables Trust 21-1 . // , , Foursight Capital Automobile Receivables Trust 19-1 (b) . // ,, ,, Freedom Financial 20-1 (b) . // , , Freedom Financial 20-3 (b) . // , , GLS Auto Receivables Trust 19-1 (b) . // , , GLS Auto Receivables Trust 19-2 (b) . // , , GLS Auto Receivables Trust 19-4 (b) . // , , GLS Auto Receivables Trust 20-2 (b) . // ,, ,, GLS Auto Receivables Trust 20-3 (b) . // , , GLS Auto Receivables Trust 20-4 (b) . // ,, ,, Gracie Point International Fund 20-B (b) .(a) // , , Longtrain Leasing III LLC 2015-1 (b) . // , , Marlette Funding Trust 18-4 (b) . // , , Marlette Funding Trust 19-1 (b) . // , , Marlette Funding Trust 19-3 (b) . // , , Marlette Funding Trust 20-2 (b) . // , , NP SPE II LLC 17-1 (b) . // , , Oasis Securitisation 21-1A (b) . // ,, ,, Oportun Funding 21-A (b) . // ,, ,, Oscar US Funding Trust 21-1A (b) . // , , Prosper Marketplace Issuance Trust 19-3 (b) . // , , SoFi Consumer Loan Program Trust 17-4 (b) . // , , SoFi Consumer Loan Program Trust 18-3 (b) . // ,, ,, SoFi Consumer Loan Program Trust 19-2 (b) . // , , SoFi Consumer Loan Program Trust 19-4 (b) . // , , United Auto Credit Securitization Trust 20-1B (b) . // ,, ,, United Auto Credit Securitization Trust 21-1A (b) . // ,, ,, United Auto Credit Securitization Trust 21-1B (b) . // ,, ,, Upstart Securitization Trust 19-3 (b) . // ,, ,, Upstart Securitization Trust 21-1 (b) . // ,, ,, Westlake Automobile Receivable Trust 19-2A (b) . // ,, ,, Westlake Automobile Receivable Trust 20-3A (b) . // ,, ,, World Financial Network Credit Card Master Note Trust 18-B . // ,, ,, Total Asset-Backed Securities (Cost $61,963,714) ,,

Portfolio of Investments | Short-Term Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

Municipal Bonds | 3.6% of portfolio Interest Rate / Yield Maturity Date Face Amount Value Arizona | 0.3% Pinal County Arizona Revenue Obligation .% // $ , $ , Pinal County Arizona Revenue Obligation . // , , Yuma Arizona Pledged Revenue . // , , Total Arizona ,,

California | 0.9% Arcadia California Pension Obligation . // , , Chula Vista California Pension Obligation . // , , EL Cajon California Pension Obligation . // , , Gardena California Pension Obligation . // , , Huntington Beach California Pension Obligation . // , , Orange California Pension Obligation . // ,, , Port of Oakland California . // , , San Francisco California Community College District . // , , Total California ,,

Colorado | 0.2% Denver City & County Colorado Airport Revenue . // , , Regional Transportation District Colorado Sales Revenue . // , , Total Colorado ,,

Florida | 0.1% Sarasota County Florida Utility System Revenue . // , , Sarasota County Florida Utility System Revenue . // , , Total Florida ,

Maine | Less than 0.1% Maine State Housing Authority . // , , Total Maine ,

Minnesota | 0.1% Shakopee Minnesota Independent School District No. 720 . // , , Total Minnesota ,

New Jersey | 0.7% New Jersey Economic Development Authority .(d) // , , New Jersey Housing and Morgage Finance Agency . // , , New Jersey Housing and Morgage Finance Agency . // , , New Jersey Housing and Morgage Finance Agency . // ,, ,, New Jersey St Turnpike Authority Turnpike Revenue . // , , Total New Jersey ,,

New York | 1.2% New York NY . // ,, ,, New York NY . // ,, ,, Suffolk County New York . // , , Suffolk County New York . // , , Suffolk County New York . // , ,

Portfolio of Investments | Short-Term Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

Municipal Bonds | 3.6% of portfolio (Continued) Interest Rate / Yield Maturity Date Face Amount Value New York | 1.2% (Continued) Suffolk County New York .% // $ ,, $ ,, Total New York ,,

Texas | 0.1% Harris County Texas Cultural Education Facilities Finance Corp. . // , , Harris County Texas Cultural Education Facilities Finance Corp. . // , , Total Texas , Total Municipal Bonds (Cost $20,870,132) ,, Corporate Bonds Guaranteed by Export-Import Bank of the United States | 3.2% of portfolio Energy | 2.1% Petroleos Mexicanos .(a) // ,, ,, Petroleos Mexicanos . // , , Reliance Industries Ltd. . // ,, ,, Total Energy ,,

Financials | 1.1% MSN 41079 and 41084 Ltd. . // , , MSN 41079 and 41084 Ltd. . // , , Pluto Aircraft Leasing LLC .(a) // , , SantaRosaLeasingLLC . // , , Thirax 1 LLC . // ,, ,, Washington Aircraft 2 Co. DAC .(a) // ,, ,, Total Financials ,, Total Corporate Bonds Guaranteed by Export-Import Bank of the United States (Cost $18,003,342) ,, Mortgage-Backed Securities | less than 0.1% of portfolio FHLMC 780754 .(a) // FNMA 813842 .(a) // , , Salomon Brothers Mortgage Securities 97-LB6 . // Total Mortgage-Backed Securities (Cost $3,889) , Money Market Fund | 3.1% of portfolio Shares State Street Institutional U.S. Government Money Market Fund Premier Class .(e) ,, ,, Total Money Market Fund (Cost $17,572,455) ,,

Total Investments in Securities (Cost $566,531,767) | 100.0% $,,

(a) Variable coupon rate as of March , .

Portfolio of Investments | Short-Term Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

(b) Security was purchased pursuant to Rule A under the Securities Act of and may be resold in transactions exempt from registration, normally to qualified institutional buyers. The securities have been determined to be liquid under criteria established by the Fund's Board of Directors. The total of such securities at period-end amounts to $,, and represents .% of total investments. (c) Zero coupon rate, purchased at a discount. (d) Interest is paid at maturity. (e) -day yield at March , . LLC - Limited Liability Company DAC - Designated Activity Company SAB de CV - Sociedad Anonima Bursatil de Capital Variable SAB - Sociedad Anonima Bursatil LP - Limited Partnership SA - Sociedad Anonima or Societe Anonyme PLC - Public Limited Company NV - Naamloze Vennottschap FHLMC - Federal Home Loan Mortgage Corporation At March 31, 2021, the cost of investment securities for tax purposes was $566,531,767. Net unrealized appreciation of investment securities was $4,051,249 consisting of unrealized gains of $5,459,356 and unrealized losses of $1,408,107. Accounting principles generally accepted in the United States (GAAP) establish a disclosure hierarchy that categorized the inputs used to value assets and liabilities at measurement date. These inputs are summarized into three broad levels as follows: Level 1 - quoted prices in active markets for identical investments; Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair valuation of investments). The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy during the period. For more information regarding the Fund’s valuation policies please refer to the Fund’s most recent financial report.

Short-Term Bond Fund Level Level Level Total Corporate Bonds–Other ...... $ — $,, $— $,, U.S. Government & Agency Obligations...... — ,, — ,, Yankee Bonds ...... — ,, — ,, Asset-Backed Securities...... — ,, — ,, Municipal Bonds...... — ,, — ,, Corporate Bonds Guaranteed by Export-Import Bank of the United States ...... — ,, — ,, Mortgage-Backed Securities...... — , — , Money Market Fund...... ,, — — ,, Total $,, $,, $— $,,

Portfolio of Investments Intermediate Bond Fund | March 31, 2021 | (Unaudited)

Corporate Bonds–Other | 36.4% of portfolio Interest Rate / Yield Maturity Date Face Amount Value Communication Services | 3.1% Alphabet Inc. .% // $ , $ , Alphabet Inc. . // , , Alphabet Inc. . // , , AT&T Inc. .(a) // , , AT&T Inc. . // , , AT&T Inc. . // , , AT&T Inc. . // , , Charter Communications Operating LLC . // , , Charter Communications Operating LLC . // , , Comcast Corp. . // , , Comcast Corp. . // , , Comcast Corp. . // , , Comcast Corp. . // , , Sprint Spectrum Co. LLC (b) . // , , T-Mobile US, Inc. (b) . // , , Verizon Communications Inc. . // , , Verizon Communications Inc. . // , , Verizon Communications Inc. . // , , Verizon Communications Inc. . // , , Verizon Communications Inc. . // , , Verizon Communications Inc. . // , , Walt Disney Co. (The) . // , , Total Communication Services ,,

Consumer Discretionary | 5.3% Amazon.com, Inc. . // , , American Airlines Group, Inc. (b) . // , , American Airlines Group, Inc. (b) . // , , American Airlines Pass Through Trust 2017-1 . // , , Block Financial Corp. . // , , Booking Holdings Inc. . // , , Booking Holdings Inc. . // , , Daimler Finance North America LLC (b) . // , , Expedia Group, Inc. (b) . // , , Expedia Group, Inc. (b) . // ,, , Ford Motor Co. . // , , Ford Motor Co. . // , , Ford Motor Co. . // , , Ford Motor Co. . // , , General Motors Financial Co., Inc. . // , , Harley-Davidson Financial Services, Inc. (b) . // , , Lowe's Companies, Inc. . // , , Lowe's Companies, Inc. . // , , Lowe's Companies, Inc. . // , , Marriott International, Inc. . // , , McDonald's Corp. . // , , Mileage Plus Holdings, LLC (b) . // , , Murphy Oil USA, Inc. (b) . // , , Ralph Lauren Corp. . // , , Southwest Airlines Co. . // , , Tractor Supply Co. . // , , Volkswagen Group of America (b) . // , , Total Consumer Discretionary ,,

Portfolio of Investments | Intermediate Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

Corporate Bonds–Other | 36.4% of portfolio (Continued) Interest Rate / Yield Maturity Date Face Amount Value Consumer Staples | 0.8% 7-Eleven Inc. (b) .% // $ , $ , 7-Eleven Inc. (b) . // , , 7-Eleven Inc. (b) . // , , Anheuser-Busch InBev SA/NV . // , , General Mills, Inc. .(a) // , , Kellogg Co. . // , , Total Consumer Staples ,

Energy | 2.9% BP Capital Markets America Inc. . // , , BP Capital Markets America Inc. . // , , BP Capital Markets America Inc. . // , , Cheniere Corpus Christi Holdings LLC . // , , Cheniere Corpus Christi Holdings LLC . // , , Energy Transfer Operating LP . // , , Energy Transfer Operating LP . // , , Energy Transfer Operating LP . // , , EOG Resources, Inc. . // , , EOG Resources, Inc. . // , , EQM Midstream Partners, LP . // , , EQM Midstream Partners, LP . // , , Gray Oak Pipeline, LLC (b) . // , , HollyFrontier Corp. . // , , Midwest Connector Capital Co. LLC (b) . // , , Midwest Connector Capital Co. LLC (b) . // , , MPLX LP . // , , MPLX LP . // , , National Oilwell Varco, Inc. . // , , Phillips 66 . // , , Pioneer Natural Resources Co. . // , , Valero Energy Corp. . // , , Total Energy ,,

Financials | 14.1% Athene Global Funding (b) . // ,, ,, Athene Global Funding (b) . // , , Bank of America Corp. .(a) // , , Bank of America Corp. . // , , Bank of America Corp. .(a) // , , Bank of America Corp. .(a) // , , Bank of America Corp. .(a) // , , Bank of America Corp. .(a) // , , Bank of America Corp. .(a) // , , Capital Southwest Corp. . // , , CIT Group Inc. .(a) // , , Citigroup Inc. .(a) // , , Citigroup Inc. . // , , Citigroup Inc. .(a) // , , Citigroup Inc. .(a) // , , CoreStates Capital II (b) .(a) // , , Fidus Investment Corp. . // , , Gladstone Capital Corp. . // , , Goldman Sachs Group Inc. .(a) // , ,

Portfolio of Investments | Intermediate Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

Corporate Bonds–Other | 36.4% of portfolio (Continued) Interest Rate / Yield Maturity Date Face Amount Value Financials | 14.1% (Continued) Goldman Sachs Group, Inc. .% // $ , $ , Goldman Sachs Group, Inc. . // , , Goldman Sachs Group, Inc. .(a) // , , Iron Mountain Inc. (b) . // , , J.P.Morgan Chase & Co. .(a) // , , J.P.Morgan Chase & Co. . // , , J.P.Morgan Chase & Co. .(a) // , , J.P.Morgan Chase & Co. .(a) // , , JP Morgan Chase & Co. .(a) // , , JP Morgan Chase & Co. .(a) // , , Main Street Capital Corp. . // ,, ,, Main Street Capital Corp. . // , , Monroe Capital Corp. . // , , Morgan Stanley .(a) // , , Morgan Stanley .(a) // , , Oaktree Specialty Lending Corp. . // , , Owl Rock Capital Corp. . // , , Owl Rock Technology Finance Corp. . // ,, ,, Owl Rock Technology Finance Corp. . // , , Prudential Financial, Inc. .(a) // , , Regions Financial Corp. . // , , Stellus Capital Investment Corp. . // , , Wells Fargo & Co. .(a) // , , Wells Fargo & Co. .(a) // , , Wells Fargo & Co. .(a) // , , Wells Fargo & Co. .(a) // , , Total Financials ,,

Health Care | 1.8% AbbVie Inc. . // , , AbbVie Inc. . // , , AbbVie Inc. . // , , Anthem, Inc. . // , , Becton, Dickinson and Co. . // , , Bristol-Myers Squibb Co. . // , , Cigna Corp. . // , , Cigna Corp. . // , , CVS Health Corp. . // , , HCA Healthcare Inc. . // , , Health Care Service Corp. (b) . // , , Merck & Co., Inc. . // , , Mylan Inc. . // , , Mylan Inc. . // , , Sutter Health . // , , Total Health Care ,,

Industrials | 1.9% Ashtead Capital, Inc. (b) . // , , Boeing Co. (The) . // , , Boeing Co. (The) . // , , Caterpillar Inc. . // , , Delta Air Lines, Inc. (b) . // , , Delta Air Lines, Inc. . // , ,

Portfolio of Investments | Intermediate Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

Corporate Bonds–Other | 36.4% of portfolio (Continued) Interest Rate / Yield Maturity Date Face Amount Value Industrials | 1.9% (Continued) Masco Corp. .% // $ , $ , Masco Corp. . // , , Total Industrials ,,

Information Technology | 1.6% Dell International LLC / EMC Corp. (b) . // , , Dell International LLC / EMC Corp. (b) . // , , Infor, Inc. (b) . // , , Microchip Technology Inc. (b) . // , , Microsoft Corp. . // , , NVIDIA Corp. . // , , NVIDIA Corp. . // , , Oracle Corp. . // , , Oracle Corp. . // , , VMware, Inc. . // , , Total Information Technology ,,

Materials | 0.2% 3M Co. . // , , E.I. du Pont de Nemours & Co. . // , , Silgan Holdings Inc. (b) . // , , Total Materials ,

Real Estate | 1.7% Crown Castle International Corp. . // , , Life Storage, LP . // , , SBA Tower Trust (b) . // , , SBA Tower Trust (b) . // , , Service Properties Trust . // , , STORE Capital Corp. . // , , VEREIT Operating Partnership, LP . // , , Welltower Inc. . // , , Total Real Estate ,,

Utilities | 3.0% Dominion Energy, Inc. .(a) // , , National Fuel Gas Co. . // , , Pacific Gas & Electric Co. . // , , Pacific Gas & Electric Co. . // , , Pacific Gas & Electric Co. . // , , San Diego Gas & Electric Co. . // , , SCE Recovery Funding LLC . // , , Southern California Edison Co. . // , , Southern California Edison Co. . // , , Southern California Edison Co. . // , , Southern California Edison Co. . // , , Southern California Edison Co. . // , , Southern California Edison Co. . // , , TerraForm Power Operating LLC (b) . // , ,

Portfolio of Investments | Intermediate Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

Corporate Bonds–Other | 36.4% of portfolio (Continued) Interest Rate / Yield Maturity Date Face Amount Value Utilities | 3.0% (Continued) TerraForm Power Operating LLC (b) .% // $ , $ , Total Utilities ,, Total Corporate Bonds–Other (Cost $41,907,943) ,, Mortgage-Backed Securities | 17.1% of portfolio FHLMC QA7479 . // , , FHLMC SB8503 . // ,, ,, FHLMC SD8068 . // , , FNMA BN5402 . // , , FNMA BN7662 . // , , FNMA CA4016 . // , , FNMA FM1000 . // ,, ,, FNMA FM4231 . // , , FNMA FM5470 . // ,, ,, FNMA MA3691 . // , , FNMA MA3834 . // , , FNMA MA3960 . // , , FNMA MA3992 . // , , FNMA MA4048 . // ,, ,, FNMA MA4179 . // ,, ,, FNMA MA4229 . // ,, ,, FNMA MA4303 . // , , Total Mortgage-Backed Securities (Cost $19,836,244) ,, U.S. Government & Agency Obligations | 12.3% of portfolio U.S. International Development Finance Corp. . // , , U.S. International Development Finance Corp. . // , , U.S. International Development Finance Corp. . // , , U.S. International Development Finance Corp. . // , , U.S. Treasury Note . // , , U.S. Treasury Note . // ,, ,, U.S. Treasury Note . // , , U.S. Treasury Note . // , , U.S. Treasury Note . // ,, ,, U.S. Treasury Note . // ,, ,, U.S. Treasury Note . // , , U.S. Treasury Note . // ,, ,, U.S. Treasury Note . // ,, , U.S. Treasury Note . // ,, ,, Total U.S. Government & Agency Obligations (Cost $14,379,917) ,, Yankee Bonds | 11.0% of portfolio AerCap Ireland Capital DAC . // , , AerCap Ireland Capital DAC . // , , Aircastle Ltd. (b) . // , , Antares Holdings LP . // , , Avolon Holdings Funding Ltd. (b) . // , , Avolon Holdings Funding Ltd. (b) . // , , Avolon Holdings Funding Ltd. (b) . // , ,

Portfolio of Investments | Intermediate Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

Yankee Bonds | 11.0% of portfolio (Continued) Interest Rate / Yield Maturity Date Face Amount Value Avolon Holdings Funding Ltd. (b) .% // $, $ , Avolon Holdings Funding Ltd. (b) . // , , Avolon Holdings Funding Ltd. (b) . // , , Avolon Holdings Funding Ltd. (b) . // , , Banco Bilbao Vizcaya Argentaria SA . // , , Banco Santander SA . // , , Banco Santander SA . // , , Banco Santander SA . // , , Barclays PLC .(a) // , , Barclays PLC .(a) // , , Barclays PLC .(a) // , , Cemex, SAB de CV (b) . // , , Cenovus Energy Inc. . // , , Delta and SkyMiles IP Ltd. (b) . // , , Delta and SkyMiles IP Ltd. (b) . // , , DH Europe Finance II SARL . // , , Enel Finance International NV (b) . // , , Enel Finance International NV (b) . // , , Lloyds Banking Group, PLC .(a) // , , Mitsubishi UFJ Financial Group, Inc. . // , , Nationwide Building Society (b) .(a) // , , Nationwide Building Society (b) . // , , NatWest Group PLC .(a) // , , Nissan Motor Co., Ltd. (b) .(a) // , , Nissan Motor Co., Ltd. (b) . // , , Nissan Motor Co., Ltd. (b) . // , , Siemens Financieringsmaatschappij NV (b) . // , , Siemens Financieringsmaatschappij NV (b) . // , , Spirit Loyalty Cayman Ltd. (b) . // , , Sumitomo Mitsui Financial Group, Inc. (b) . // , , Syngenta Finance NV (b) . // , , Syngenta Finance NV (b) . // , , Tencent Holdings Ltd. (b) . // , , Tencent Holdings Ltd. (b) . // , , Tencent Holdings Ltd. (b) . // , , Tencent Music Entertainment Group . // , , Teva Pharmaceutical Industries Ltd. . // , , Westpac Banking Corp. . // , , Total Yankee Bonds (Cost $12,532,807) ,, Asset-Backed Securities | 10.6% of portfolio American Credit Acceptance Receivables Trust 19-1 (b) . // , , American Credit Acceptance Receivables Trust 2019-3 (b) . // , , American Credit Acceptance Receivables Trust 20-3A (b) . // , , American Credit Acceptance Receivables Trust 20-3B (b) . // , , Avant Loans Funding Trust 19-B (b) . // , , Avid Automobile Receivables Trust 19-1 (b) . // , , Carvana Auto Receivables Trust 19-2A (b) . // , , Carvana Auto Receivables Trust 20-N1A (b) . // , , Consumer Loan Underlying Bond 18-P3 (b) . // , , Consumer Loan Underlying Bond 19-HP1 (b) . // , , Consumer Loan Underlying Bond 20-P1 (b) . // , , CoreVest American Finance 20-4 (b) . // , , CPS Auto Trust 20-C (b) . // , , Credit Acceptance Auto Loan Trust 18-2A (b) . // , , Credit Acceptance Auto Loan Trust 18-3B (b) . // , ,

Portfolio of Investments | Intermediate Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

Asset-Backed Securities | 10.6% of portfolio (Continued) Interest Rate / Yield Maturity Date Face Amount Value Credit Acceptance Auto Loan Trust 19-1A (b) .% // $ , $ , Credit Acceptance Auto Loan Trust 19-1B (b) . // , , Credit Acceptance Auto Loan Trust 19-1C (b) . // , , Credit Acceptance Auto Loan Trust 20-1A (b) . // , , Credit Acceptance Auto Loan Trust 20-1A (b) . // , , Credit Acceptance Auto Loan Trust 20-2A (b) . // , , Credit Acceptance Auto Loan Trust 20-3A (b) . // , , Credit Acceptance Auto Loan Trust 21-2A (b) . // , , DT Auto Owner Trust 18-2D (b) . // , , DT Auto Owner Trust 19-1C (b) . // , , DT Auto Owner Trust 20-3A (b) . // , , Exeter Automobile Receivables Trust 20-1A (b) . // , , Exeter Automobile Receivables Trust 20-1A (b) . // , , Exeter Automobile Receivables Trust 20-3A . // , , Exeter Automobile Receivables Trust 21-1A . // , , Foursight Capital Automobile Receivables Trust 19-1 (b) . // , , Freedom Financial 20-3 (b) . // , , Freedom Financial 21-1 (b) . // , , GLS Auto Receivables Trust 19-1 (b) . // , , GLS Auto Receivables Trust 19-2 (b) . // , , GLS Auto Receivables Trust 20-2 (b) . // , , GLS Auto Receivables Trust 20-3 (b) . // , , GLS Auto Receivables Trust 20-4 (b) . // , , Gracie Point International Fund 20-B (b) .(a) // , , Marlette Funding Trust 19-3 (b) . // , , Marlette Funding Trust 20-2 (b) . // , , Oasis Securitisation 21-1A (b) . // , , Oportun Funding 21-A (b) . // , , Oscar US Funding Trust 21-1A (b) . // , , Prosper Marketplace Issuance Trust 19-3 (b) . // , , SoFi Consumer Loan Program Trust 18-3 (b) . // , , SoFi Consumer Loan Program Trust 19-1 (b) . // , , SoFi Consumer Loan Program Trust 19-4 (b) . // , , United Auto Credit Securitization Trust 20-1B (b) . // , , United Auto Credit Securitization Trust 21-1A (b) . // , , United Auto Credit Securitization Trust 21-1B (b) . // ,, ,, Upstart Securitization Trust 19-3 (b) . // , , Westlake Automobile Receivable Trust 19-2A (b) . // , , Westlake Automobile Receivable Trust 20-3A (b) . // , , Westlake Automobile Receivable Trust 20-3A (b) . // , , Total Asset-Backed Securities (Cost $12,219,585) ,, Municipal Bonds | 5.9% of portfolio Alabama | 0.1% Alabama Public School & College Authority . // , , Total Alabama ,

Arizona | 0.3% Pinal County Arizona Revenue Obligation . // , , Pinal County Arizona Revenue Obligation . // , , Yuma Arizona Pledged Revenue . // , , Total Arizona ,

Portfolio of Investments | Intermediate Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

Municipal Bonds | 5.9% of portfolio (Continued) Interest Rate / Yield Maturity Date Face Amount Value California | 2.6% California Infrastructure & Economic Development Bank .% // $ , $ , City of Chula Vista California Pension Obligation . // , , City of Chula Vista California Pension Obligation . // , , City of Chula Vista California Pension Obligation . // , , City of Chula Vista California Pension Obligation . // , , City of Chula Vista California Pension Obligation . // , , City of Chula Vista California Pension Obligation . // , , City of Los Angeles California Department of Airports . // , , City of Los Angeles California Department of Airports . // , , City of Los Angeles California Department of Airports . // , , City of Los Angeles California Department of Airports . // , , City of Monterey Park California Pension Obligation . // ,, , EL Cajon California Pension Obligation . // , , Gardena California Pension Obligation . // , , Huntington Beach California Pension Obligation . // , , Orange California Pension Obligation . // , , Santa Clara Valley California Water District . // , , Total California ,,

Colorado | 0.5% Denver City & County Colorado Airport . // , , Regional Transportation District Colorado . // , , Regional Transportation District Colorado . // , , Regional Transportation District Colorado . // , , Total Colorado ,

Georgia | 0.1% City of Atlanta Georgia Water & Wastewater . // , , Total Georgia ,

New Jersey | 0.9% New Jersey Economic Development Authority .(c) // , , New Jersey Housing and Morgage Finance Agency . // , , New Jersey Housing and Morgage Finance Agency . // , , New Jersey Housing and Morgage Finance Agency . // , , New Jersey Transportation Trust Fund Authority . // , , Total New Jersey ,,

New York | 1.1% New York NY . // , , New York NY . // , , Suffolk County New York . // , , Suffolk County New York . // , , Total New York ,,

Texas | 0.3% Harris County Texas Cultural Education Facilities Finance Corp. . // , , San Antonio Texas Electric & Gas . // , , Total Texas , Total Municipal Bonds (Cost $6,794,211) ,,

Portfolio of Investments | Intermediate Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

Corporate Bonds Guaranteed by Export-Import Bank of the United States | 0.7% of portfolio Interest Rate / Yield Maturity Date Face Amount Value Energy | 0.3% Petroleos Mexicanos .%(a) // $ , $ , Total Energy ,

Financials | 0.4% Thirax 1 LLC . // , , Total Financials , Total Corporate Bonds Guaranteed by Export-Import Bank of the United States (Cost $803,566) , Money Market Fund | 6.0% of portfolio Shares State Street Institutional U.S. Government Money Market Fund Premier Class .(d) ,, ,, Total Money Market Fund (Cost $6,857,722) ,,

Total Investments in Securities (Cost $115,331,995) | 100.0% $,,

(a) Variable coupon rate as of March , . (b) Security was purchased pursuant to Rule A under the Securities Act of and may be resold in transactions exempt from registration, normally to qualified institutional buyers. The securities have been determined to be liquid under criteria established by the Fund's Board of Trustees. The total of such securities at period-end amounts to $,, and represents .% of total investments. (c) Interest is paid at maturity. (d) -day yield at March , . LLC - Limited Liability Company LP - Limited Partnership FHLMC - Federal Home Loan Mortgage Corporation DAC - Designated Activity Company SA - Sociedad Anonima or Societe Anonyme PLC - Public Limited Company SAB de CV - Sociedad Anonima Bursatil de Capital Variable SAB - Sociedad Anonima Bursatil SARL - Societe a responsabilite limitee NV - Naamloze Vennottschap At March 31, 2021, the cost of investment securities for tax purposes was $115,344,895. Net unrealized depreciation of investment securities was $348,210 consisting of unrealized gains of $1,091,163 and unrealized losses of $1,439,373. Accounting principles generally accepted in the United States (GAAP) establish a disclosure hierarchy that categorized the inputs used to value assets and liabilities at measurement date. These inputs are summarized into three broad levels as follows: Level 1 - quoted prices in active markets for identical investments; Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair valuation of investments).

Portfolio of Investments | Intermediate Bond Fund | March 31, 2021 | (Unaudited) | (Continued)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy during the period. For more information regarding the Fund’s valuation policies please refer to the Fund’s most recent financial report.

Intermediate Bond Fund Level Level Level Total Corporate Bonds–Other ...... $ — $ ,, $— $ ,, Mortgage-Backed Securities...... — ,, — ,, U.S. Government & Agency Obligations...... — ,, — ,, Yankee Bonds ...... — ,, — ,, Asset-Backed Securities...... — ,, — ,, Municipal Bonds...... — ,, — ,, Corporate Bonds Guaranteed by Export-Import Bank of the United States ...... — , — , Money Market Fund...... ,, — — ,, Total $,, $,, $— $,,

Portfolio of Investments Stock Index Fund | March 31, 2021 | (Unaudited)

Cost Value

Investment in SP 500 $,, $,,

Substantially all the assets of the Stock Index Fund are invested in the S&P 500 Index Master Portfolio managed by BlackRock Fund Advisors. As of March 31, 2021, the Stock Index Fund's ownership interest in the S&P 500 Index Master Portfolio was 0.70%. See the Portfolio of Investments for the S&P 500 Index Master Portfolio for holdings information.

Portfolio of Investments S&P 500 Index Master Portfolio | March 31, 2021 | (Unaudited)

Common Stocks | 98.2% of net assets Common Stocks | 98.2% of net assets (Continued) Shares Value Shares Value Aerospace & Defense | 1.6% Banks | 4.4% (Continued) Boeing Co. (a) , $ ,, People's United Financial, Inc. , $ ,, General Dynamics Corp. , ,, PNC Financial Services Group, Howmet Aerospace, Inc. , ,, Inc. , ,, Huntington Ingalls Industries, Inc. , ,, Regions Financial Corp. , ,, L3Harris Technologies, Inc. , ,, SVB Financial Group (a) , ,, Lockheed Martin Corp. , ,, Truist Financial Corp. ,, ,, Northrop Grumman Corp. , ,, U.S. Bancorp ,, ,, Raytheon Technologies Corp. ,, ,, Wells Fargo & Co. ,, ,, Teledyne Technologies, Inc. (a) , ,, Zions Bancorp. NA , ,, Textron, Inc. , ,, Total Banks ,,, TransDigm Group, Inc. (a) , ,, Total Aerospace & Defense ,, Beverages | 1.4% Brown-Forman Corp., Class B , ,, Air Freight & Logistics 0.6% | Coca-Cola Co. ,, ,, C.H. Robinson Worldwide, Inc. , ,, Constellation Brands, Inc., Class A , ,, Expeditors International of Molson Coors Brewing Co., Washington, Inc. , ,, Class B , ,, FedEx Corp. , ,, Monster Beverage Corp. (a) , ,, United Parcel Service, Inc., Class B , ,, PepsiCo, Inc. ,, ,, Total Air Freight & Logistics ,, Total Beverages ,,

Airlines | 0.3% Biotechnology | 1.8% Alaska Air Group, Inc. , ,, AbbVie Inc. ,, ,, American Airlines Group, Inc. (b) , ,, Alexion Pharmaceuticals, Inc. (a) , ,, Delta Air Lines, Inc. (a) , ,, Amgen Inc. , ,, Southwest Airlines Co. , ,, Biogen, Inc. (a) , ,, United Airlines Holdings, Inc. (a) , ,, Gilead Sciences, Inc. ,, ,, Total Airlines ,, Incyte Corp. (a) , ,, Regeneron Pharmaceuticals, Auto Components 0.1% Inc. (a) , ,, | Vertex Pharmaceuticals, Inc. (a) , ,, Aptiv PLC (a) , ,, BorgWarner, Inc. , ,, Total Biotechnology ,, Total Auto Components ,, Building Products | 0.5% Automobiles 1.9% Allegion PLC , ,, | AO Smith Corp. , ,, Ford Motor Co. (a) ,, ,, Carrier Global Corp. , ,, General Motors Co. ,, ,, Fortune Brands Home & Security, , ,, Tesla Inc. (a) Inc. , ,, Total Automobiles ,, Johnson Controls International PLC , ,, Banks | 4.4% Masco Corp. , ,, , ,, Bank of America Corp. ,, ,, Trane Technologies PLC Citigroup, Inc. ,, ,, Total Building Products ,, Citizens Financial Group, Inc. , ,, Comerica, Inc. , ,, Capital Markets | 2.8% Fifth Third Bancorp , ,, Ameriprise Financial, Inc. , ,, First Republic Bank , ,, Bank of New York Mellon Corp. , ,, Huntington Bancshares, Inc. , ,, BlackRock, Inc. (c) , ,, JPMorgan Chase & Co. ,, ,, Cboe Global Markets, Inc. , ,, KeyCorp , ,, Charles Schwab Corp. ,, ,, M&T Bank Corp. , ,, CME Group, Inc. , ,,

Portfolio of Investments | S&P 500 Index Master Portfolio | March 31, 2021 | (Unaudited) | (Continued)

Common Stocks | 98.2% of net assets (Continued) Common Stocks | 98.2% of net assets (Continued) Shares Value Shares Value Capital Markets | 2.8% (Continued) Construction & Engineering | 0.0% Franklin Resources, Inc. , $ ,, Quanta Services, Inc. , $ ,, Goldman Sachs Group, Inc. , ,, Total Construction & Engineering ,, Intercontinental Exchange, Inc. , ,, Invesco Ltd. , ,, Construction Materials 0.1% MarketAxess Holdings, Inc. , ,, | Moody's Corp. , ,, Martin Marietta Materials, Inc. , ,, Morgan Stanley ,, ,, Vulcan Materials Co. , ,, MSCI, Inc. , ,, Total Construction Materials ,, Nasdaq, Inc. , ,, Northern Trust Corp. , ,, Consumer Finance 0.6% Raymond James Financial, Inc. , ,, | S&P Global Inc. , ,, American Express Co. , ,, State Street Corp. , ,, Capital One Financial Corp. , ,, T. Rowe Price Group, Inc. , ,, Discover Financial Services , ,, Synchrony Financial , ,, Total Capital Markets ,, Total Consumer Finance ,, Chemicals | 1.8% Containers & Packaging 0.3% Air Products & Chemicals, Inc. , ,, | Albemarle Corp. , ,, Amcor PLC ,, ,, Celanese Corp. , ,, Avery Dennison Corp. , ,, CF Industries Holdings, Inc. , ,, Ball Corp. , ,, Corteva, Inc. , ,, International Paper Co. , ,, Dow Inc. , ,, Packaging Corp. of America , ,, DuPont de Nemours, Inc. , ,, Sealed Air Corp. , ,, Eastman Chemical Co. , ,, WestRock Co. , ,, Ecolab, Inc. , ,, Total Containers & Packaging ,, FMC Corp. , ,, International Flavors & Distributors 0.1% Fragrances, Inc. , ,, | Genuine Parts Co. , ,, Linde PLC (a) , ,, LKQ Corp. (a) , ,, LyondellBasell Industries NV, Pool Corp. , ,, Class A , ,, Mosaic Co. , ,, Total Distributors ,, PPG Industries, Inc. , ,, Sherwin-Williams Co. , ,, Diversified Financial Services | 1.4% Total Chemicals ,, Berkshire Hathaway, Inc., Class B (a) ,, ,, Commercial Services & Supplies | 0.4% Total Diversified Financial Services ,, Cintas Corp. , ,, Copart, Inc. (a) , ,, Diversified Telecommunication Services | 1.4% Republic Services, Inc. , ,, AT&T, Inc. ,, ,, Rollins, Inc. , ,, Lumen Technologies, Inc. , ,, Waste Management, Inc. , ,, Verizon Communications, Inc. ,, ,, Total Commercial Services & Total Diversified Supplies ,, Telecommunication Services ,, Communications Equipment 0.8% | Electric Utilities | 1.7% Arista Networks, Inc. (a) , ,, Alliant Energy Corp. , ,, Cisco Systems, Inc. ,, ,, American Electric Power Co., Inc. , ,, F5 Networks, Inc. (a) , ,, Duke Energy Corp. , ,, Juniper Networks, Inc. , ,, Edison International , ,, Motorola Solutions, Inc. , ,, Entergy Corp. , ,, Total Communications Equipment ,, Evergy, Inc. , ,,

Portfolio of Investments | S&P 500 Index Master Portfolio | March 31, 2021 | (Unaudited) | (Continued)

Common Stocks | 98.2% of net assets (Continued) Common Stocks | 98.2% of net assets (Continued) Shares Value Shares Value Electric Utilities | 1.7% (Continued) Equity Real Estate Investment Trusts (REITs) | 2.3% Eversource Energy , $ ,, Alexandria Real Estate Equities, Exelon Corp. , ,, Inc. , $ ,, FirstEnergy Corp. , ,, American Tower Corp. , ,, NextEra Energy, Inc. ,, ,, AvalonBay Communities, Inc. , ,, NRG Energy, Inc. , ,, Boston Properties, Inc. , ,, Pinnacle West Capital Corp. , ,, Crown Castle International Corp. , ,, PPL Corp. , ,, Digital Realty Trust, Inc. , ,, Southern Co. , ,, Duke Realty Corp. , ,, Xcel Energy, Inc. , ,, Equinix, Inc. , ,, Total Electric Utilities ,, Equity Residential , ,, Essex Property Trust, Inc. , ,, Electrical Equipment 0.6% Extra Space Storage, Inc. , ,, | Federal Realty Investment Trust , ,, AMETEK, Inc. , ,, Healthpeak Properties, Inc. , ,, Eaton Corp. PLC , ,, Host Hotels & Resorts, Inc. , ,, Emerson Electric Co. , ,, Iron Mountain, Inc. , ,, Generac Holdings, Inc. (a)(b) , ,, Kimco Realty Corp. , ,, Rockwell Automation, Inc. , ,, Mid-America Apartment Total Electrical Equipment ,, Communities, Inc. , ,, Prologis, Inc. , ,, Electronic Equipment, Instruments & Components 0.7% Public Storage , ,, | Realty Income Corp. , ,, Amphenol Corp., Class A , ,, Regency Centers Corp. , ,, CDW Corp. , ,, SBA Communications Corp. , ,, Corning, Inc. , ,, Simon Property Group, Inc. , ,, FLIR Systems, Inc. , ,, UDR, Inc. , ,, IPG Photonics Corp. (a)(b) , ,, Ventas, Inc. , ,, Keysight Technologies, Inc. (a) , ,, Vornado Realty Trust , ,, TE Connectivity Ltd. , ,, Welltower, Inc. , ,, Trimble, Inc. (a) , ,, Weyerhaeuser Co. , ,, Zebra Technologies Corp., Class A (a) , ,, Total Equity Real Estate Investment Trusts (REITs) ,, Total Electronic Equipment, Instruments & Components ,, Food & Staples Retailing | 1.3% Energy Equipment & Services 0.2% Costco Wholesale Corp. , ,, | Kroger Co. , ,, Baker Hughes Co. , ,, Sysco Corp. , ,, Halliburton Co. , ,, Walgreens Boots Alliance, Inc. , ,, NOV, Inc. , ,, Walmart, Inc. ,, ,, Schlumberger NV ,, ,, Total Food & Staples Retailing ,, Total Energy Equipment & Services ,, Food Products 1.0% Entertainment 2.1% | | Archer-Daniels-Midland Co. , ,, Activision Blizzard, Inc. , ,, Campbell Soup Co. , ,, Electronic Arts Inc. (a) , ,, Conagra Brands, Inc. , ,, Live Nation Entertainment, Inc. General Mills, Inc. , ,, (a)(b) , ,, Hershey Co. , ,, Netflix, Inc. (a) , ,, Hormel Foods Corp. , ,, Take-Two Interactive Software, J.M. Smucker Co. , ,, Inc. (a)(b) , ,, Kellogg Co. , ,, Walt Disney Co. (a) ,, ,, Kraft Heinz Co. , ,, Total Entertainment ,, Lamb Weston Holdings, Inc. , ,, McCormick & Co., Inc. , ,,

Portfolio of Investments | S&P 500 Index Master Portfolio | March 31, 2021 | (Unaudited) | (Continued)

Common Stocks | 98.2% of net assets (Continued) Common Stocks | 98.2% of net assets (Continued) Shares Value Shares Value Food Products | 1.0% (Continued) Health Care Providers & Services | 2.6% (Continued) Mondelez International, Inc., Universal Health Services, Inc., Class A ,, $ ,, Class B , $ ,, Tyson Foods, Inc., Class A , ,, Total Health Care Providers & Total Food Products ,, Services ,,

Gas Utilities | 0.0% Health Care Technology | 0.1% AtmosEnergyCorp. , ,, Cerner Corp. , ,, Total Gas Utilities ,, Total Health Care Technology ,,

Health Care Equipment & Supplies | 3.6% Hotels, Restaurants & Leisure | 2.1% Abbott Laboratories ,, ,, Booking Holdings, Inc. (a) , ,, ABIOMED, Inc. (a) , ,, Caesars Entertainment, Inc. (a) , ,, Align Technology, Inc. (a) , ,, Carnival Corp. (a) , ,, Baxter International, Inc. , ,, Chipotle Mexican Grill, Inc. (a) , ,, Becton, Dickinson & Co. , ,, Darden Restaurants, Inc. , ,, Boston Scientific Corp. (a) ,, ,, Domino's Pizza, Inc. , ,, Cooper Cos., Inc. , ,, Expedia Group, Inc. , ,, Danaher Corp. , ,, Hilton Worldwide Holdings, DENTSPLY SIRONA, Inc. , ,, Inc. (a) , ,, DexCom, Inc. (a)(b) , ,, Las Vegas Sands Corp. (a)(b) , ,, Edwards Lifesciences Corp. (a) , ,, Marriott International, Inc., Hologic, Inc. (a) , ,, Class A (a) , ,, IDEXX Laboratories, Inc. (a) , ,, McDonald's Corp. , ,, Intuitive Surgical, Inc. (a) , ,, MGM Resorts International (b) , ,, Medtronic PLC ,, ,, Norwegian Cruise Line Holdings , ,, ResMed, Inc. Ltd. (a)(b) , ,, , ,, STERIS PLC Penn National Gaming, Inc. (a) , ,, , ,, Stryker Corp. Royal Caribbean Cruises Ltd. , ,, , ,, Teleflex, Inc. Starbucks Corp. , ,, , ,, Varian Medical Systems, Inc. (a) Wynn Resorts, Ltd. , ,, West Pharmaceutical Services, Yum! Brands, Inc. , ,, Inc. (b) , ,, Zimmer Biomet Holdings, Inc. , ,, Total Hotels, Restaurants & Leisure ,, Total Health Care Equipment & Household Durables 0.4% Supplies ,,, | D.R. Horton, Inc. , ,, Health Care Providers & Services 2.6% Garmin Ltd. , ,, | Leggett & Platt, Inc. , ,, AmerisourceBergen Corp. , ,, Lennar Corp., Class A , ,, Anthem, Inc. , ,, Mohawk Industries, Inc. (a) , ,, Cardinal Health, Inc. , ,, Newell Brands, Inc. , ,, Centene Corp. (a) , ,, NVR, Inc. (a) , ,, Cigna Corp. , ,, PulteGroup, Inc. , ,, CVS Health Corp. ,, ,, Whirlpool Corp. , ,, DaVita, Inc. (a) , ,, Total Household Durables ,, HCA Healthcare, Inc. , ,, Henry Schein, Inc. (a) , ,, Humana Inc. , ,, Household Products | 1.4% Laboratory Corp. of America Church & Dwight Co., Inc. , ,, Holdings (a) , ,, Clorox Co. , ,, McKesson Corp. , ,, Colgate-Palmolive Co. , ,, Quest Diagnostics, Inc. , ,, Kimberly-Clark Corp. , ,, UnitedHealth Group, Inc. , ,, Procter & Gamble Co. ,, ,, Total Household Products ,,

Portfolio of Investments | S&P 500 Index Master Portfolio | March 31, 2021 | (Unaudited) | (Continued)

Common Stocks | 98.2% of net assets (Continued) Common Stocks | 98.2% of net assets (Continued) Shares Value Shares Value Independent Power and Renewable Electricity Producers | 0.1% IT Services | 5.1% AES Corp. , $ ,, Accenture PLC, Class A , $ ,, Total Independent Power and Akamai Technologies, Inc. (a) , ,, Automatic Data Processing, Inc. , ,, Renewable Electricity Producers ,, Broadridge Financial Solutions, Inc. , ,, Industrial Conglomerates 1.2% | Cognizant Technology Solutions 3M Co. , ,, Corp., Class A , ,, General Electric Co. ,, ,, DXC Technology Co. , ,, Honeywell International, Inc. , ,, Fidelity National Information Roper Technologies, Inc. , ,, Services, Inc. , ,, Total Industrial Conglomerates ,, Fiserv, Inc. (a) , ,, FleetCor Technologies, Inc. (a) , ,, Insurance 1.9% Gartner, Inc. (a) , ,, | Global Payments, Inc. , ,, Aflac, Inc. , ,, International Business Machines Allstate Corp. , ,, Corp. , ,, American International Group, Jack Henry & Associates, Inc. , ,, Inc. , ,, Mastercard, Inc., Class A , ,, Aon PLC, Class A , ,, Paychex, Inc. , ,, Arthur J Gallagher & Co. , ,, PayPal Holdings, Inc. (a) , ,, Assurant, Inc. , ,, VeriSign, Inc. (a) , ,, Chubb Ltd. , ,, Visa Inc., Class A ,, ,, Cincinnati Financial Corp. , ,, Western Union Co. , ,, Everest Re Group Ltd. , ,, Globe Life, Inc. , ,, Total IT Services ,,, Hartford Financial Services Group, Inc. , ,, Leisure Products | 0.0% Lincoln National Corp. , ,, Hasbro, Inc. , ,, Loews Corp. , ,, Total Leisure Products ,, Marsh&McLennanCos.,Inc. , ,, MetLife, Inc. , ,, Principal Financial Group, Inc. , ,, Life Sciences Tools & Services | 1.1% Progressive Corp. , ,, Agilent Technologies, Inc. , ,, Prudential Financial, Inc. , ,, Bio-Rad Laboratories, Inc., Travelers Cos., Inc. , ,, Class A (a) , ,, Unum Group , ,, Illumina, Inc. (a) , ,, W.R. Berkley Corp. , ,, IQVIA Holdings, Inc. (a) , ,, Willis Towers Watson PLC , ,, Mettler-Toledo International, Total Insurance ,, Inc. (a) , ,, PerkinElmer, Inc. , ,, Interactive Media & Services 5.8% Thermo Fisher Scientific, Inc. , ,, | Waters Corp. (a) , ,, Alphabet, Inc., Class A (a) , ,, Alphabet, Inc., Class C (a) , ,, Total Life Sciences Tools & Services ,, Facebook, Inc., Class A (a) ,, ,, Twitter, Inc. (a) , ,, Machinery | 1.8% Total Interactive Media & Services ,,, Caterpillar, Inc. , ,, Cummins, Inc. , ,, Internet & Direct Marketing Retail 4.1% Deere & Co. , ,, | Dover Corp. , ,, Amazon.com, Inc. (a) , ,,, Fortive Corp. , ,, eBay, Inc. , ,, IDEX Corp. , ,, Etsy, Inc. (a) , ,, Illinois Tool Works, Inc. , ,, Total Internet & Direct Marketing Ingersoll Rand Inc. (a) , ,, Retail ,,, Otis Worldwide Corp. , ,, PACCAR Inc. , ,,

Portfolio of Investments | S&P 500 Index Master Portfolio | March 31, 2021 | (Unaudited) | (Continued)

Common Stocks | 98.2% of net assets (Continued) Common Stocks | 98.2% of net assets (Continued) Shares Value Shares Value Machinery | 1.8% (Continued) Oil, Gas & Consumable Fuels | 2.5% Parker-Hannifin Corp. , $ ,, APA Corp. , $ ,, Pentair PLC , ,, Cabot Oil & Gas Corp. , ,, Snap-on, Inc. , ,, Chevron Corp. ,, ,, Stanley Black & Decker, Inc. , ,, ConocoPhillips ,, ,, Westinghouse Air Brake Devon Energy Corp. , ,, Technologies Corp. , ,, Diamondback Energy, Inc. , ,, Xylem, Inc. , ,, EOG Resources, Inc. , ,, Exxon Mobil Corp. ,, ,, Total Machinery ,, Hess Corp. , ,, HollyFrontier Corp. , ,, Media | 1.3% Kinder Morgan, Inc. ,, ,, Charter Communications, Inc., Marathon Oil Corp. , ,, Class A (a) , ,, Marathon Petroleum Corp. , ,, Comcast Corp., Class A ,, ,, Occidental Petroleum Corp. , ,, Discovery, Inc., Class A (a) , ,, ONEOK, Inc. , ,, Discovery, Inc., Class C (a)(b) , ,, Phillips 66 , ,, DISH Network Corp., Class A (a) , ,, Pioneer Natural Resources Co. , ,, Fox Corp., Class A , ,, Valero Energy Corp. , ,, Fox Corp., Class B , ,, Williams Cos., Inc. ,, ,, Interpublic Group of Cos., Inc. , ,, Total Oil, Gas & Consumable Fuels ,, News Corp., Class A , ,, News Corp., Class B , ,, Personal Products 0.2% Omnicom Group, Inc. , ,, | ViacomCBS, Inc., Class B , ,, Estee Lauder Cos., Inc., Class A , ,, Total Media ,, Total Personal Products ,,

Metals & Mining | 0.4% Pharmaceuticals | 3.6% Freeport-McMoRan Inc. ,, ,, Bristol-Myers Squibb Co. ,, ,, Newmont Corp. , ,, Catalent, Inc. (a) , ,, Nucor Corp. , ,, Eli Lilly & Co. , ,, Johnson & Johnson ,, ,, Total Metals & Mining ,, Merck & Co., Inc. ,, ,, Perrigo Co. PLC , ,, Multi-Utilities | 0.8% Pfizer, Inc. ,, ,, Ameren Corp. , ,, Viatris, Inc. (a) ,, ,, CenterPoint Energy, Inc. , ,, Zoetis, Inc. , ,, CMS Energy Corp. , ,, Total Pharmaceuticals ,,, Consolidated Edison, Inc. , ,, Dominion Energy, Inc. , ,, Professional Services 0.4% DTE Energy Co. , ,, | NiSource, Inc. , ,, Equifax, Inc. , ,, Public Service Enterprise Group, IHS Markit Ltd. , ,, Inc. , ,, Jacobs Engineering Group, Inc. , ,, Sempra Energy , ,, Leidos Holdings Inc. , ,, WEC Energy Group, Inc. , ,, Nielsen Holdings PLC , ,, Robert Half International, Inc. , ,, Total Multi-Utilities ,, Verisk Analytics, Inc. , ,, Total Professional Services ,, Multiline Retail | 0.5% Dollar General Corp. , ,, Real Estate Management & Development 0.1% Dollar Tree, Inc. (a) , ,, | Target Corp. , ,, CBRE Group, Inc., Class A (a) , ,, Total Multiline Retail ,, Total Real Estate Management & Development ,,

Portfolio of Investments | S&P 500 Index Master Portfolio | March 31, 2021 | (Unaudited) | (Continued)

Common Stocks | 98.2% of net assets (Continued) Common Stocks | 98.2% of net assets (Continued) Shares Value Shares Value Road & Rail | 1.0% Specialty Retail | 2.3% (Continued) CSX Corp. , $ ,, Best Buy Co., Inc. , $ ,, J.B. Hunt Transport Services, Inc. , ,, CarMax, Inc. (a) , ,, Kansas City Southern , ,, Gap, Inc. , ,, Norfolk Southern Corp. , ,, Home Depot, Inc. , ,, Old Dominion Freight Line, Inc. , ,, L Brands, Inc. (a) , ,, Union Pacific Corp. , ,, Lowe's Cos., Inc. , ,, Total Road & Rail ,, O'Reilly Automotive, Inc. (a)(b) , ,, Ross Stores, Inc. , ,, TJX Companies, Inc. (The) ,, ,, Semiconductors & Semiconductor Equipment 5.5% | Tractor Supply Co. , ,, Advanced Micro Devices, Inc. (a) ,, ,, Ulta Beauty, Inc. (a) , ,, Analog Devices, Inc. , ,, Total Specialty Retail ,, Applied Materials, Inc. , ,, Broadcom, Inc. , ,, Enphase Energy, Inc. (a) , ,, Technology Hardware, Storage & Peripherals | 6.0% Intel Corp. ,, ,, Apple, Inc. ,, ,,, KLA-Tencor Corp. , ,, Hewlett Packard Enterprise Co. ,, ,, Lam Research Corp. , ,, HP,Inc. ,, ,, Maxim Integrated Products, Inc. , ,, NetApp, Inc. , ,, Microchip Technology, Inc. , ,, Seagate Technology PLC , ,, Micron Technology, Inc. (a) , ,, Western Digital Corp. , ,, Monolithic Power Systems, Inc. , ,, Total Technology Hardware, NVIDIA Corp. , ,, Storage & Peripherals ,,, NXP Semiconductors NV , ,, Qorvo, Inc. (a) , ,, QUALCOMM, Inc. , ,, Textiles, Apparel & Luxury Goods | 0.7% Skyworks Solutions, Inc. , ,, Hanesbrands, Inc. , ,, Teradyne, Inc. , ,, NIKE, Inc., Class B ,, ,, Texas Instruments, Inc. , ,, PVH Corp. , ,, Xilinx, Inc. , ,, Ralph Lauren Corp. , ,, Total Semiconductors & Tapestry, Inc. (a) , ,, Under Armour, Inc., Class A (a)(b) , ,, Semiconductor Equipment ,,, Under Armour, Inc., Class C (a) , ,, VF Corp. , ,, Software 8.2% | Total Textiles, Apparel & Luxury Adobe, Inc. (a) , ,, Goods ,, ANSYS, Inc. (a) , ,, Autodesk, Inc. (a) , ,, Cadence Design Systems, Inc. (a) , ,, Tobacco | 0.7% Citrix Systems, Inc. , ,, Altria Group, Inc. ,, ,, Fortinet, Inc. (a) , ,, Philip Morris International, Inc. ,, ,, Intuit, Inc. , ,, Total Tobacco ,, Microsoft Corp. ,, ,,, NortonLifeLock, Inc. , ,, Trading Companies & Distributors 0.2% Oracle Corp. ,, ,, | Paycom Software, Inc. (a) , ,, Fastenal Co. , ,, salesforce.com, Inc. (a) , ,, United Rentals, Inc. (a) , ,, ServiceNow, Inc. (a) , ,, W.W. Grainger, Inc. , ,, Synopsys, Inc. (a) , ,, Total Trading Companies & Tyler Technologies, Inc. (a)(b) , ,, Distributors ,, Total Software ,,, Water Utilities | 0.1% Specialty Retail | 2.3% American Water Works Co., Inc. , ,, Advance Auto Parts, Inc. , ,, Total Water Utilities ,, AutoZone, Inc. (a) , ,,

Portfolio of Investments | S&P 500 Index Master Portfolio | March 31, 2021 | (Unaudited) | (Continued)

Common Stocks | 98.2% of net assets (Continued) Short-Term Securities | 1.4% of net assets Shares Value Shares Value BlackRock Cash Wireless Telecommunication Services | 0.2% Funds: Institutional, SL Agency T-Mobile U.S., Inc. (a) , $ ,, Shares, 0.14% (c)(d)(e) ,, $ ,, Total Wireless Telecommunication BlackRock Cash Funds: Treasury, Services ,, SL Agency Shares, 0.02% (c)(d) ,, ,, Total Common Stocks Total Short-Term Securities (Cost $12,693,916,609) ,,, (Cost $398,332,972) ,,

Investment Companies | 0.7% of net assets Total Investments iShares Core S&P 500 ETF (c) , $ ,, (Cost $13,289,410,450) | 100.3% ,,, Total Investment Companies Liabilities in Excess of Other (Cost $197,160,869) ,, Assets | (0.3)% (,,) Total Long-Term Investments Net Assets | 100.0% $,,, (Cost $12,891,077,478) ,,,

(a) Non-income producing. (b) Security, or a portion of security, is on loan. (c) During the period ended March , , investments in issuers considered to be affiliates of the Master Portfolio for purposes of Section (a)() of the Investment Company Act of , as amended, and/or related parties of the Master Portfolio were as follows: Change in Shares Held at Shares Held at Value at Unrealized Affiliate Persons and/or December , Shares Shares March , March , Realized Appreciation Related Parties Purchased Sold Income Gain (Loss) (Depreciation) BlackRock Cash Funds: Institutional, SL Agency Shares ,, — (,,) ,, $ ,, $ , $, $ (,) BlackRock Cash Funds: Treasury, SL Agency Shares ,, ,, — ,, ,, , — — BlackRock, Inc. ,, — (,,) , ,, , , ,, iShares Core S&P 500 ETF ,, ,, — , ,, , — ,, Total $,, $,, $, $,,

Represents net shares purchased (sold). Represents all or portion of securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees, and collateral investment expenses, and other payments to and from borrowers of securities. (d) -day yield at March , . (e) All or a portion of security was purchased with the cash collateral from loaned securities.

Derivative Financial Instruments Outstanding as of Period End - Futures Contracts

Unrealized Appreciation Contracts Long Issue Expiration Notional Amount () (Depreciation) , S&P E-Mini Index June $, $,, Fair Value Hierarchy as of Period End Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

Portfolio of Investments | S&P 500 Index Master Portfolio | March 31, 2021 | (Unaudited) | (Continued)

• Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Master Portfolio has the ability to access; • Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and • Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financialinstruments). The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Master Portfolio’s policy regarding valuation of financial instruments, refer to its most recent financial statements. The following table summarizes the Master Portfolio’s investments categorized in the fair value hierarchy. The breakdown of the Master Portfolio’s investments into major categories is disclosed in the Schedule of Investments above.

Level Level Level Total Assets: Investments: Long-Term Investments ...... $,,, $— $— $,,, Short-Term Securities: Money Market Funds...... ,, — — ,, $,,, $— $— $,,, Derivative Financial Instruments(a) Assets: Equity contracts...... $ ,, $— $— $ ,, (a) Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

Portfolio of Investments Value Fund | March 31, 2021 | (Unaudited)

Common Stocks | 98.7% of portfolio Common Stocks | 98.7% of portfolio (Continued) Shares Value Shares Value Communication Services | 7.7% Health Care | 21.2% (Continued) Diversified Telecommunication Pfizer, Inc. , $ ,, Services Total Health Care ,, Verizon Communications, Inc. , $ ,, Interactive Media & Services Industrials 18.8% Alphabet, Inc., Class C (a) , ,, | Facebook, Inc., Class A (a) , ,, Aerospace & Defense Media Northrop Grumman Corp. , ,, Comcast Corp., Class A , ,, Airlines Southwest Airlines Co. , ,, Total Communication Services ,, Electrical Equipment Eaton Corp. PLC , ,, Consumer Discretionary | 5.5% Industrial Conglomerates Hotels, Restaurants & Leisure Honeywell International, Inc. , ,, Las Vegas Sands Corp. (a) , ,, Machinery McDonald's Corp. , ,, Deere & Co. , ,, Specialty Retail Parker-Hannifin Corp. , ,, Home Depot, Inc. , ,, Stanley Black & Decker, Inc. , ,, TJX Companies, Inc. (The) , ,, Professional Services Ulta Beauty, Inc. (a) , ,, Leidos Holdings Inc. , ,, Road & Rail Total Consumer Discretionary ,, CSX Corp. , ,, Financials | 20.1% Total Industrials ,, Banks Information Technology 14.7% Bank of America Corp. , ,, | Citigroup, Inc. , ,, IT Services JPMorgan Chase & Co. , ,, Fiserv, Inc. (a) , ,, Truist Financial Corp. , ,, Visa Inc., Class A , ,, Capital Markets Semiconductors & Semiconductor Goldman Sachs Group, Inc. , ,, Equipment Insurance NVIDIA Corp. , ,, Allstate Corp. , ,, NXP Semiconductors NV , ,, American International Group, Software Inc. , ,, Microsoft Corp. , ,, Chubb Ltd. , ,, VMware, Inc., Class A (a) , ,, Total Financials ,, Total Information Technology ,,

Health Care | 21.2% Materials | 8.4% Biotechnology Chemicals AbbVie Inc. , ,, Dow Inc. , ,, Amgen Inc. , ,, DuPont de Nemours, Inc. , ,, Health Care Equipment & Supplies Containers & Packaging Abbott Laboratories , ,, Avery Dennison Corp. , ,, Boston Scientific Corp. (a) , ,, Metals & Mining Medtronic PLC , ,, Freeport-McMoRan Inc. , ,, Health Care Providers & Services Total Materials ,, Centene Corp. (a) , ,, Cigna Corp. , ,, Real Estate 2.3% Life Sciences Tools & Services | Mettler-Toledo International, Equity Real Estate Investment Trusts Inc. (a) , ,, (REITs) Pharmaceuticals Digital Realty Trust, Inc. , ,, Bristol-Myers Squibb Co. , ,, Merck & Co., Inc. , ,,

Portfolio of Investments | Value Fund | March 31, 2021 | (Unaudited) | (Continued)

Common Stocks | 98.7% of portfolio (Continued) Shares Value Real Estate | 2.3% (Continued) VICI Properties Inc. , $ ,, Total Real Estate ,, Total Common Stocks (Cost $515,830,780) ,,

Money Market Fund | 1.3% of portfolio State Street Institutional U.S. Government Money Market Fund Premier Class, 0.04% (b) ,, ,, Total Money Market Fund (Cost $12,835,314) ,,

Total Investments in Securities (Cost $528,666,094) | 100.0% $,,

(a) Non-income producing. (b) -day yield at March , . PLC - Public Limited Company NV - Naamloze Vennottschap At March 31, 2021, the cost of investment securities for tax purposes was $529,005,331. Net unrealized appreciation of investment securities was $456,567,392 consisting of unrealized gains of $461,540,782 and unrealized losses of $4,973,389. Accounting principles generally accepted in the United States (GAAP) establish a disclosure hierarchy that categorized the inputs used to value assets and liabilities at measurement date. These inputs are summarized into three broad levels as follows: Level 1 - quoted prices in active markets for identical investments; Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair valuation of investments). The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy during the period. For more information regarding the Fund’s valuation policies please refer to the Fund’s most recent financial report.

Value Fund Level Level Level Total Common Stocks...... $,, $— $— $,, Money Market Fund...... ,, — — ,, Total $,, $— $— $,,

Portfolio of Investments Growth Fund | March 31, 2021 | (Unaudited)

Common Stocks | 99.2% of portfolio Common Stocks | 99.2% of portfolio (Continued) Shares Value Shares Value Communication Services | 25.0% Health Care | 14.5% (Continued) Entertainment Health Care Equipment & Supplies Live Nation Entertainment, Becton, Dickinson & Co. , $ ,, Inc. (a) , $ ,, Intuitive Surgical, Inc. (a) , ,, Netflix, Inc. (a) , ,, Stryker Corp. , ,, Sea Ltd. ADR (a) , ,, Health Care Providers & Services Spotify Technology SA (a) , ,, Anthem, Inc. , ,, Interactive Media & Services Centene Corp. (a) , ,, Alphabet, Inc., Class C (a) , ,, Cigna Corp. , ,, Alphabet, Inc., Class A (a) , ,, HCA Healthcare, Inc. , ,, Facebook, Inc., Class A (a) , ,, Humana Inc. , ,, IAC/InterActiveCorp (a) , ,, UnitedHealth Group, Inc. , ,, Match Group, Inc. (a) , ,, Life Sciences Tools & Services Pinterest, Inc., Class A (a) , ,, Avantor, Inc. (a) , ,, Snap Inc., Class A (a) , ,, Total Health Care ,, Tencent Holdings Ltd. ADR , ,, Total Communication Services ,, Industrials | 2.1% Machinery Consumer Discretionary | 20.3% Ingersoll Rand Inc. (a) , ,, Auto Components Professional Services Aptiv PLC (a) , ,, CoStar Group, Inc. (a) , ,, Hotels, Restaurants & Leisure Road & Rail Booking Holdings, Inc. (a) , ,, Norfolk Southern Corp. , ,, Chipotle Mexican Grill, Inc. (a) , ,, Total Industrials ,, DraftKings Inc., Class A (a) , ,, Internet & Direct Marketing Retail Information Technology 34.7% Alibaba Group Holding Ltd. | ADR (a) , ,, IT Services Amazon.com, Inc. (a) , ,, Fidelity National Information Coupang, Inc. (a) , , Services, Inc. , ,, DoorDash, Inc., Class A (a) , , Global Payments, Inc. , ,, Farfetch Ltd., Class A (a) , ,, MongoDB, Inc. (a) , ,, Multiline Retail PayPal Holdings, Inc. (a) , ,, Dollar General Corp. , ,, Shopify Inc., Class A (a) , Specialty Retail Visa Inc., Class A , ,, Carvana Co. (a) , ,, Semiconductors & Semiconductor Ross Stores, Inc. , ,, Equipment Textiles, Apparel & Luxury Goods Advanced Micro Devices, Inc. (a) , ,, lululemon athletica Inc. (a) , ,, ASML Holding NV ADR , ,, NIKE, Inc., Class B , ,, Software Fortinet, Inc. (a) , ,, Total Consumer Discretionary ,, Intuit, Inc. , ,, Microsoft Corp. , ,, Financials | 2.0% salesforce.com, Inc. (a) , ,, Capital Markets ServiceNow, Inc. (a) , ,, Charles Schwab Corp. , ,, Splunk Inc. (a) , ,, Goldman Sachs Group, Inc. , ,, Synopsys, Inc. (a) , ,, S&P Global Inc. , ,, Workday, Inc., Class A (a) , ,, XP Inc., Class A (a) , , Zoom Video Communications, Total Financials ,, Inc. (a) , ,, Technology Hardware, Storage & Health Care 14.5% Peripherals | Apple, Inc. , ,, Biotechnology Incyte Corp. (a) , ,, Total Information Technology ,, Vertex Pharmaceuticals, Inc. (a) , ,,

Portfolio of Investments | Growth Fund | March 31, 2021 | (Unaudited) | (Continued)

Common Stocks | 99.2% of portfolio (Continued) Shares Value Utilities | 0.6% Electric Utilities NextEra Energy, Inc. , $ ,, Total Utilities ,, Total Common Stocks (Cost $173,950,047) ,,

Money Market Fund | 0.8% of portfolio State Street Institutional U.S. Government Money Market Fund Premier Class, 0.04% (b) ,, ,, Total Money Market Fund (Cost $2,724,986) ,,

Total Investments in Securities (Cost $176,675,033) | 100.0% $,,

(a) Non-income producing. (b) -day yield at March , . ADR - American Depositary Deposit SA - Sociedad Anonima or Societe Anonyme PLC - Public Limited Company S&P - Standard & Poor's NV - Naamloze Vennottschap At March 31, 2021, the cost of investment securities for tax purposes was $176,921,873. Net unrealized appreciation of investment securities was $154,285,264 consisting of unrealized gains of $154,659,274 and unrealized losses of $374,010. Accounting principles generally accepted in the United States (GAAP) establish a disclosure hierarchy that categorized the inputs used to value assets and liabilities at measurement date. These inputs are summarized into three broad levels as follows: Level 1 - quoted prices in active markets for identical investments; Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair valuation of investments). The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy during the period. For more information regarding the Fund’s valuation policies please refer to the Fund’s most recent financial report.

Growth Fund Level Level Level Total Common Stocks...... $,, $— $— $,, Money Market Fund...... ,, — — ,, Total $,, $— $— $,,

Portfolio of Investments International Equity Fund | March 31, 2021 | (Unaudited)

Common Stocks | 94.7% of portfolio Common Stocks | 94.7% of portfolio (Continued) Shares Value Shares Value Australia | 3.4% Hong Kong | 3.4% BHP Group Ltd. ADR , $ ,, AIA Group Ltd. , $ ,, Total Australia ,, Total Hong Kong ,,

Brazil | 0.3% India | 0.9% Ambev SA ADR , , HDFC Bank Ltd. ADR (a) , , Total Brazil , ICICI Bank Ltd. ADR (a) , , Total India , Britain | 7.8% Diageo PLC , ,, Indonesia | 0.2% Rio Tinto PLC , ,, PT Telkom Indonesia (Persero) Royal Dutch Shell PLC, Class B , ,, Tbk. ADR , , Standard Chartered PLC , , Total Indonesia , Unilever PLC , ,, Total Britain ,, Israel | 1.5% Check Point Software Canada 2.1% | Technologies Ltd. (a) , ,, Alimentation Couche-Tard Inc., Total Israel ,, Class B , , Canadian National Railway Co. , , Japan 17.2% Total Canada ,, | Chugai Pharmaceutical Co., Ltd. , ,, FANUC Corp. , ,, China 2.7% | Keyence Corp. , ,, Alibaba Group Holding Ltd. Komatsu Ltd. , ,, ADR (a) , , Kubota Corp. , ,, CSPC Pharmaceutical Group Ltd. , , Nitori Holdings Co., Ltd. , ,, ENN Energy Holdings Ltd. , , Shionogi & Co., Ltd. , ,, Ping An Insurance Group Co. of Sysmex Corp. , ,, China Ltd., Class H , , Unicharm Corp. , ,, Tencent Holdings Ltd. , ,, Total Japan ,, Total China ,, Mexico | 0.3% Denmark | 1.0% Fomento Economico Mexicano, Novozymes A/S, Class B , , SAB de CV ADR , , Total Denmark , Total Mexico ,

France | 9.8% Netherlands | 3.7% Air Liquide SA , ,, Adyen NV (a) , ,, Dassault Systèmes SE , ,, Total Netherlands ,, L’Oréal SA , ,, Schneider Electric SE , ,, Republic of South Korea | 0.5% Total France ,, Samsung Electronics Co., Ltd. GDR , Germany | 11.4% Total Republic of South Korea , Allianz SE REG , ,, Infineon Technologies AG , ,, SAPSEADR , ,, Russia | 0.8% Symrise AG , ,, LUKOIL PJSC ADR , , Total Germany ,, Yandex NV, Class A (a) , , Total Russia ,

Portfolio of Investments | International Equity Fund | March 31, 2021 | (Unaudited) | (Continued)

Common Stocks | 94.7% of portfolio (Continued) Preferred Stocks | 1.8% of portfolio Shares Value Shares Value Singapore | 2.9% Brazil | 0.4% DBS Group Holdings Ltd. , $ ,, Itaú Unibanco Holding SA ADR , $ , Total Singapore ,, Total Brazil ,

Spain | 1.7% Germany | 0.5% Banco Bilboa Vizcaya Argentaria FUCHS PETROLUB SE , , SA , ,, Total Germany , Total Spain ,, Republic of South Korea | 0.9% Sweden | 8.9% Samsung Electronics Co., Ltd. REG Alfa Laval AB , ,, GDR , AtlasCopcoAB,ClassA , ,, Total Republic of South Korea , Epiroc AB, Class A , ,, Skandinaviska Enskilda Banken Total Preferred Stocks ,, AB, Class A , ,, (Cost $1,009,138) Total Sweden ,, Money Market Fund | 3.5% of portfolio Switzerland | 11.7% State Street Institutional U.S. Government Money Market Alcon Inc. , ,, ,, ,, Lonza Group AG REG , ,, Fund Premier Class, 0.04% (b) Nestlé SA ADR , ,, Total Money Market Fund Roche Holding AG REG , ,, (Cost $3,271,991) ,, SGS SA REG , Sonova Holding AG REG , ,, Total Investments in Securities Total Switzerland ,, (Cost $64,433,510) | 100.0% $,, Taiwan | 1.3% Taiwan Semiconductor Manufacturing Co. Ltd. ADR , ,, Total Taiwan ,,

United States of America | 1.2% Linde PLC , ,, Total United States of America ,, Total Common Stocks (Cost $60,152,381) ,,

(a) Non-income producing. (b) -day yield at March , . ADR - American Depositary Deposit SA - Sociedad Anonima or Societe Anonyme PLC - Public Limited Company A/S - Aktieselskab SE - Societas Europaea REG - Registered Shares AG - Aktiengesellschaft Tbk. - Terbuka SAB de CV - Sociedad Anonima Bursatil de Capital Variable SAB - Sociedad Anonima Bursatil

Portfolio of Investments | International Equity Fund | March 31, 2021 | (Unaudited) | (Continued)

NV - Naamloze Vennottschap GDR - Global Depositary Receipt AB - Aktiebolag At March 31, 2021, the cost of investment securities for tax purposes was $64,492,277. Net unrealized appreciation of investment securities was $30,140,960 consisting of unrealized gains of $31,165,999 and unrealized losses of $1,025,039. Accounting principles generally accepted in the United States (GAAP) establish a disclosure hierarchy that categorized the inputs used to value assets and liabilities at measurement date. These inputs are summarized into three broad levels as follows: Level 1 - quoted prices in active markets for identical investments; Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair valuation of investments). The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy during the period. For more information regarding the Fund’s valuation policies please refer to the Fund’s most recent financial report.

International Equity Fund Level Level Level Total Common Stocks...... $,, $,, $— $,, Preferred Stocks ...... , ,, — ,, Money Market Fund...... ,, — — ,, Total $,, $,, $— $,,

Portfolio of Investments Small-Company Stock Fund | March 31, 2021 | (Unaudited)

Common Stocks | 99.0% of portfolio Common Stocks | 99.0% of portfolio (Continued) Shares Value Shares Value Communication Services | 1.2% Health Care | 25.1% (Continued) Wireless Telecommunication Services LHC Group, Inc. (a) , $ ,, Shenandoah Telecommunications PetIQ, Inc. (a) , ,, Co. , $ ,, Health Care Technology Inovalon Holdings, Inc. (a) , ,, Total Communication Services ,, Life Sciences Tools & Services Medpace Holdings, Inc. (a) , ,, Consumer Discretionary | 7.7% NanoString Technologies, Inc. (a) , ,, Distributors Pharmaceuticals Core-Mark Holding Company, Inc. , ,, Aerie Pharmaceuticals, Inc. (a) , ,, Hotels, Restaurants & Leisure Total Health Care ,, Cracker Barrel Old Country Store, Inc. , ,, Industrials 22.6% Extended Stay America, Inc. , ,, | Household Durables Aerospace & Defense MDC Holdings, Inc. , ,, Triumph Group, Inc. (a) , ,, Leisure Products Construction & Engineering Callaway Golf Co. , ,, Comfort Systems USA, Inc. , ,, Textiles, Apparel & Luxury Goods Dycom Industries, Inc. (a) , ,, Carter's, Inc. , ,, Primoris Services Corp. , ,, Electrical Equipment Total Consumer Discretionary ,, Atkore Inc. (a) , ,, EnerSys , ,, Consumer Staples | 1.0% Machinery Food Products Barnes Group Inc. , ,, TreeHouse Foods, Inc. (a) , ,, Colfax Corp. (a) , ,, Federal Signal Corp. , ,, Total Consumer Staples ,, Professional Services CACI International Inc., Financials 13.9% | Class A (a) , ,, Banks ManTech International Corp., Atlantic Union Bankshares Corp. , ,, Class A , ,, Cadence Bancorporation , ,, Road & Rail Eastern Bankshares, Inc. , ,, Werner Enterprises, Inc. , ,, FB Financial Corp. , ,, Trading Companies & Distributors Glacier Bancorp, Inc. , ,, Applied Industrial Technologies, South State Corp. , ,, Inc. , ,, Capital Markets Virtu Financial, Inc., Class A , ,, Total Industrials ,, Consumer Finance Encore Capital Group, Inc. (a) , ,, Information Technology | 15.9% Insurance Electronic Equipment, Instruments & Kinsale Capital Group, Inc. , ,, Components Total Financials ,, Itron, Inc. (a) , ,, IT Services Health Care 25.1% CSG Systems International, Inc. , ,, | Semiconductors & Semiconductor Biotechnology Equipment Emergent BioSolutions Inc. (a) , ,, Advanced Energy Industries, Inc. , ,, Twist Bioscience Corp. (a) , ,, Diodes Inc. (a) , ,, Health Care Equipment & Supplies Software Envista Holdings Corp. (a) , ,, Altair Engineering Inc. (a) , ,, Integer Holdings Corp. (a) , ,, Cognyte Software Ltd. (a) , ,, NuVasive, Inc. (a) , ,, Descartes Systems Group Inc. STAAR Surgical Co. (a) , ,, Health Care Providers & Services (The) (a) , ,, , ,, AMN Healthcare Services, Inc. (a) , ,, Five9, Inc. (a) j2 Global, Inc. (a) , ,,

Portfolio of Investments | Small-Company Stock Fund | March 31, 2021 | (Unaudited) | (Continued)

Common Stocks | 99.0% of portfolio (Continued) Common Stocks | 99.0% of portfolio (Continued) Shares Value Shares Value Information Technology | 15.9% (Continued) Real Estate | 4.2% (Continued) Model N, Inc. (a) , $ ,, QTS Realty Trust, Inc. Class A , $ ,, Verint Systems Inc. (a) , ,, Total Real Estate ,, Total Information Technology ,, Total Common Stocks (Cost $199,529,428) ,, Materials | 7.4% Chemicals Money Market Fund | 1.0% of portfolio Avient Corp. , ,, State Street Institutional Ingevity Corp. (a) , ,, Construction Materials U.S. Government Money Market Summit Materials, Inc., Class A (a) , ,, Fund Premier Class, 0.04% (b) ,, ,, Total Materials ,, Total Money Market Fund (Cost $3,096,911) ,, Real Estate | 4.2% Equity Real Estate Investment Trusts Total Investments in Securities (REITs) (Cost $202,626,339) | 100.0% $,, Community Healthcare Trust Inc. , ,, Easterly Government Properties, Inc. , ,,

(a) Non-income producing. (b) -day yield at March , . At March 31, 2021, the cost of investment securities for tax purposes was $202,694,852. Net unrealized appreciation of investment securities was $109,906,438 consisting of unrealized gains of $111,871,026 and unrealized losses of $1,964,588. Accounting principles generally accepted in the United States (GAAP) establish a disclosure hierarchy that categorized the inputs used to value assets and liabilities at measurement date. These inputs are summarized into three broad levels as follows: Level 1 - quoted prices in active markets for identical investments; Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair valuation of investments). The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy during the period. For more information regarding the Fund’s valuation policies please refer to the Fund’s most recent financial report.

Small-Company Stock Fund Level Level Level Total Common Stocks...... $,, $— $— $,, Money Market Fund...... ,, — — ,, Total $,, $— $— $,,