SCHEDULE OF INVESTMENTS December 31, 2019 SERIES B (LARGE CAP VALUE SERIES)

Shares Value Shares Value

COMMON STOCKS† - 95.7% Exxon Mobil Corp. 41,397 $ 2,888,683 Marathon Oil Corp. 158,094 2,146,916 FINANCIAL - 29.3% Cabot Oil & Gas Corp. — Class A 91,049 1,585,163 Bank of America Corp. 247,492 $ 8,716,668 Parsley Energy, Inc. — Class A 56,789 1,073,880 Citigroup, Inc. 78,919 6,304,839 Range Resources Corp. 107,163 519,741 JPMorgan Chase & Co. 40,704 5,674,138 Whiting Petroleum Corp.* 55,030 403,920 Berkshire Hathaway, Inc. — Class B* 20,208 4,577,112 Antero Resources Corp.* 56,985 162,407 Wells Fargo & Co. 78,884 4,243,959 Truist Financial Corp. 53,865 3,033,677 Total Energy 19,318,333 Zions Bancorp North America 55,143 2,863,024 COMMUNICATIONS - 8.2% Allstate Corp. 23,741 2,669,675 Verizon Communications, Inc. 99,873 6,132,202 Prudential Financial, Inc. 25,393 2,380,340 Comcast Corp. — Class A 82,304 3,701,211 Voya Financial, Inc. 38,150 2,326,387 NortonLifeLock, Inc. 115,160 2,938,883 Equity Commonwealth REIT 70,611 2,318,159 Cisco Systems, Inc. 46,985 2,253,401 MetLife, Inc. 45,139 2,300,735 Juniper Networks, Inc. 43,590 1,073,622 Hartford Financial Services Group, Inc. 34,287 2,083,621 AT&T, Inc. 24,582 960,664 Principal Financial Group, Inc. 37,840 2,081,200 F5 Networks, Inc.* 6,844 955,765 Loews Corp. 36,285 1,904,600 T-Mobile US, Inc.* 8,470 664,217 Morgan Stanley 34,665 1,772,075 Total Communications 18,679,965 Medical Properties Trust, Inc. REIT 65,452 1,381,692 KeyCorp 64,668 1,308,880 TECHNOLOGY - 8.0% Charles Schwab Corp. 27,103 1,289,019 Intel Corp. 104,561 6,257,976 Howard Hughes Corp.* 9,645 1,222,986 Micron Technology, Inc.* 69,212 3,722,221 Regions Financial Corp. 70,117 1,203,208 Apple, Inc. 10,204 2,996,404 Marsh & McLennan Companies, Inc. 10,341 1,152,091 Skyworks Solutions, Inc. 19,813 2,394,996 Old Republic International Corp. 44,139 987,389 Qorvo, Inc.* 13,783 1,601,998 American International Group, Inc. 18,813 965,671 Amdocs Ltd. 15,609 1,126,814 Jones Lang LaSalle, Inc. 4,866 847,122 Total Technology 18,100,409 Park Hotels & Resorts, Inc. REIT 30,801 796,822 Total Financial 66,405,089 CONSUMER, CYCLICAL - 7.4% Walmart, Inc. 26,728 3,176,356 CONSUMER, NON-CYCLICAL - 18.1% Southwest Airlines Co. 47,188 2,547,208 Pfizer, Inc. 127,456 4,993,726 LKQ Corp.* 49,954 1,783,358 Johnson & Johnson 19,495 2,843,736 Lear Corp. 12,115 1,662,178 HCA Healthcare, Inc. 18,846 2,785,627 Walgreens Boots Alliance, Inc. 27,602 1,627,414 Tyson Foods, Inc. — Class A 30,226 2,751,775 PACCAR, Inc. 20,253 1,602,012 McKesson Corp. 17,897 2,475,513 PVH Corp. 14,248 1,498,177 Archer-Daniels-Midland Co. 52,046 2,412,332 Carnival Corp. 23,157 1,177,070 Humana, Inc. 6,387 2,340,963 Home Depot, Inc. 4,427 966,768 Zimmer Biomet Holdings, Inc. 13,693 2,049,568 Macy’s, Inc. 44,265 752,505 Alexion Pharmaceuticals, Inc.* 18,567 2,008,021 Total Consumer, Cyclical 16,793,046 Merck & Company, Inc. 20,657 1,878,754 Quest Diagnostics, Inc. 17,512 1,870,107 UTILITIES - 7.3% Encompass Health Corp. 25,501 1,766,454 Exelon Corp. 79,898 3,642,550 Amgen, Inc. 6,861 1,653,982 Public Service Enterprise Group, Inc. 56,473 3,334,731 Medtronic plc 13,608 1,543,828 Edison International 27,657 2,085,614 Bunge Ltd. 25,800 1,484,790 Duke Energy Corp. 21,954 2,002,424 Biogen, Inc.* 4,948 1,468,220 AES Corp. 71,750 1,427,825 United Therapeutics Corp.* 14,302 1,259,720 NiSource, Inc. 51,045 1,421,093 Ingredion, Inc. 13,001 1,208,443 Pinnacle West Capital Corp. 15,680 1,410,102 Procter & Gamble Co. 9,301 1,161,695 PPL Corp. 33,862 1,214,969 UnitedHealth Group, Inc. 3,439 1,010,997 Total Utilities 16,539,308 Total Consumer, Non-cyclical 40,968,251 BASIC MATERIALS - 4.8% ENERGY - 8.5% Freeport-McMoRan, Inc. 178,263 2,338,811 Chevron Corp. 57,407 6,918,118 Nucor Corp. 38,756 2,181,188 ConocoPhillips 55,659 3,619,505 Huntsman Corp. 78,933 1,907,021 SCHEDULE OF INVESTMENTS (concluded) December 31, 2019 SERIES B (LARGE CAP VALUE SERIES)

Shares Value Shares Value

Olin Corp. 90,597 $ 1,562,798 MONEY MARKET FUND† - 0.5% Reliance Steel & Aluminum Co. 10,519 1,259,755 Dreyfus Treasury Securities DuPont de Nemours, Inc. 18,012 1,156,371 Cash Management Fund — Dow, Inc. 9,877 540,568 Institutional Shares 1.44%1 1,246,858 $ 1,246,858 Total Basic Materials 10,946,512 Total Money Market Fund (Cost $1,246,858) 1,246,858 INDUSTRIAL - 4.1% Eaton Corporation plc 18,940 1,793,997 Total Investments - 100.2% Owens Corning 26,430 1,721,122 (Cost $182,931,376) $ 227,327,771 FedEx Corp. 10,635 1,608,119 Other Assets & Liabilities, net - (0.2)% (359,960) Valmont Industries, Inc. 7,628 1,142,522 Total Net Assets - 100.0% $ 226,967,811 General Electric Co. 97,873 1,092,262 Knight-Swift Transportation Holdings, Inc. 29,105 1,043,123 Johnson Controls International plc 24,247 987,095 Total Industrial 9,388,240 Total Common Stocks (Cost $173,388,328) 217,139,153 EXCHANGE-TRADED FUNDS† - 4.0% iShares Russell 1000 Value ETF 65,517 8,941,760 Total Exchange-Traded Funds (Cost $8,296,190) 8,941,760

* Non-income producing security. † Value determined based on Level 1 inputs. 1 Rate indicated is the 7-day yield as of December 31, 2019. plc — Public Limited Company REIT — Real Estate Investment Trust