Form NPORT-P Guggenheim Variable Fund For: Mar 31

May 26, 2022 4:06 PM EDT

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    NPORT-P
    false
    
      
      
        
          0000217087
          XXXXXXXX
        
      
      
      
      
        S000010062
        C000027861
      
      
    
  
  
    
      Guggenheim Variable Funds Trust
      811-02753
      0000217087
      549300QDJHZ1HF5UC735
      702 King Farm Blvd., Suite 200
      Rockville
      
      20850
      301-296-5100
      Series Z (Alpha Opportunity Series)
      S000010062
      549300G2R2MR8TG2ES80
      2022-12-31
      2022-03-31
      N
    
    
      4051095.12
      24397.82
      4026697.30
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      N
      
        
          
        
        
          
            
            
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        Tapestry Inc
        549300LJNVY5SW3VTN33
        Tapestry, Inc.
        876030107
        
          
        
        311.00000000
        NS
        USD
        11553.65000000
        0.286926211215
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Safety Insurance Group Inc
        254900LDCFLA3J746840
        Safety Insurance Group, Inc.
        78648T100
        
          
        
        517.00000000
        NS
        USD
        46969.45000000
        1.166450977082
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        LKQ Corp
        DS830JTTZQN6GK0I2E41
        LKQ Corp.
        501889208
        
          
        
        285.00000000
        NS
        USD
        12941.85000000
        0.321401114506
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Shoe Carnival Inc
        N/A
        Shoe Carnival, Inc.
        824889109
        
          
        
        299.00000000
        NS
        USD
        8718.84000000
        0.216525836198
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Abbott Laboratories
        HQD377W2YR662HK5JX27
        Abbott Laboratories
        002824100
        
          
        
        159.00000000
        NS
        USD
        18819.24000000
        0.467361676279
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Reliance Steel & Aluminum Co
        549300E287ZOFT3C5Z56
        Reliance Steel & Aluminum Co.
        759509102
        
          
        
        87.00000000
        NS
        USD
        15951.45000000
        0.396142267758
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hilltop Holdings Inc
        54930010TA543US0PM65
        Hilltop Holdings, Inc.
        432748101
        
          
        
        740.00000000
        NS
        USD
        21756.00000000
        0.540293902896
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        InterDigital Inc
        N/A
        InterDigital, Inc.
        45867G101
        
          
        
        252.00000000
        NS
        USD
        16077.60000000
        0.399275108163
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Otter Tail Corp
        N/A
        Otter Tail Corp.
        689648103
        
          
        
        383.00000000
        NS
        USD
        23937.50000000
        0.594469815250
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NetScout Systems Inc
        5493005HZXZ3SPNVCV76
        NetScout Systems, Inc.
        64115T104
        
          
        
        282.00000000
        NS
        USD
        9046.56000000
        0.224664516004
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Insteel Industries Inc
        52990026LKY4MOX3L174
        Insteel Industries, Inc.
        45774W108
        
          
        
        268.00000000
        NS
        USD
        9913.32000000
        0.246189848936
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dorian LPG Ltd
        549300WP1W2WGMC7F395
        Dorian LPG Ltd.
        N/A
        
          
        
        816.00000000
        NS
        USD
        11823.84000000
        0.293636176724
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Genpact Ltd
        529900OSEC6Q0L4L5B35
        Genpact Ltd.
        N/A
        
          
        
        203.00000000
        NS
        USD
        8832.53000000
        0.219349241871
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Mueller Industries Inc
        5493005IZFE4VJLLYG84
        Mueller Industries, Inc.
        624756102
        
          
        
        752.00000000
        NS
        USD
        40735.84000000
        1.011643959430
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Janus Henderson Group PLC
        2138009WPYMWJN3RVF44
        Janus Henderson Group plc
        N/A
        
          
        
        484.00000000
        NS
        USD
        16949.68000000
        0.420932559296
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Morgan Stanley Capital Services LLC
        I7331LVCZKQKX5T7XV54
        MS Equity Custom Basket
        N/A
        
          
        
        0.00000000
        NC
        USD
        -59307.25000000
        -1.47285096398
        N/A
        DE
        
        US
        N
        
        2
        
          
            
              Morgan Stanley Capital Services LLC
              I7331LVCZKQKX5T7XV54
            
            
              
                MS Equity Short Custom Basket
                N/A
                
                  
                    Wells Fargo & Co.
                    
                      
                    
                    -273.00000000
                    USD
                    -13229.58000000
                    USD
                  
                  
                    Kennedy-Wilson Holdings, Inc.
                    
                      
                    
                    -1307.00000000
                    USD
                    -31877.73000000
                    USD
                  
                  
                    Guardant Health, Inc.
                    
                      
                    
                    -157.00000000
                    USD
                    -10399.68000000
                    USD
                  
                  
                    Leidos Holdings, Inc.
                    
                      
                    
                    -80.00000000
                    USD
                    -8641.60000000
                    USD
                  
                  
                    American Airlines Group, Inc.
                    
                      
                    
                    -1268.00000000
                    USD
                    -23141.00000000
                    USD
                  
                  
                    Natera, Inc.
                    
                      
                    
                    -52.00000000
                    USD
                    -2115.36000000
                    USD
                  
                  
                    Patterson-UTI Energy, Inc.
                    
                      
                    
                    -1403.00000000
                    USD
                    -21718.44000000
                    USD
                  
                  
                    Sysco Corp.
                    
                      
                    
                    -186.00000000
                    USD
                    -15186.90000000
                    USD
                  
                  
                    Lululemon Athletica, Inc.
                    
                      
                    
                    -20.00000000
                    USD
                    -7304.60000000
                    USD
                  
                  
                    Cintas Corp.
                    
                      
                    
                    -80.00000000
                    USD
                    -34031.20000000
                    USD
                  
                  
                    NOV, Inc.
                    
                      
                    
                    -683.00000000
                    USD
                    -13393.63000000
                    USD
                  
                  
                    Halliburton Co.
                    
                      
                    
                    -929.00000000
                    USD
                    -35181.23000000
                    USD
                  
                  
                    Host Hotels & Resorts, Inc.
                    
                      
                    
                    -1511.00000000
                    USD
                    -29358.73000000
                    USD
                  
                  
                    Invitation Homes, Inc.
                    
                      
                    
                    -561.00000000
                    USD
                    -22540.98000000
                    USD
                  
                  
                    ONE Gas, Inc.
                    
                      
                    
                    -361.00000000
                    USD
                    -31854.64000000
                    USD
                  
                  
                    Rollins, Inc.
                    
                      
                    
                    -471.00000000
                    USD
                    -16508.55000000
                    USD
                  
                  
                    MongoDB, Inc.
                    
                      
                    
                    -18.00000000
                    USD
                    -7984.62000000
                    USD
                  
                  
                    Bunge Ltd.
                    
                      
                    
                    -136.00000000
                    USD
                    -15070.16000000
                    USD
                  
                  
                    TransDigm Group, Inc.
                    
                      
                    
                    -16.00000000
                    USD
                    -10424.64000000
                    USD
                  
                  
                    CoStar Group, Inc.
                    
                      
                    
                    -278.00000000
                    USD
                    -18517.58000000
                    USD
                  
                  
                    IAA, Inc.
                    
                      
                    
                    -193.00000000
                    USD
                    -7382.25000000
                    USD
                  
                  
                    Verisk Analytics, Inc.
                    
                      
                    
                    -98.00000000
                    USD
                    -21033.74000000
                    USD
                  
                  
                    Howmet Aerospace, Inc.
                    
                      
                    
                    -449.00000000
                    USD
                    -16137.06000000
                    USD
                  
                  
                    Freshpet, Inc.
                    
                      
                    
                    -64.00000000
                    USD
                    -6568.96000000
                    USD
                  
                  
                    SBA Communications Corp.
                    
                      
                    
                    -46.00000000
                    USD
                    -15828.60000000
                    USD
                  
                  
                    Driven Brands Holdings, Inc.
                    
                      
                    
                    -798.00000000
                    USD
                    -20971.44000000
                    USD
                  
                  
                    United Airlines Holdings, Inc.
                    
                      
                    
                    -386.00000000
                    USD
                    -17894.96000000
                    USD
                  
                  
                    Quanta Services, Inc.
                    
                      
                    
                    -82.00000000
                    USD
                    -10792.02000000
                    USD
                  
                  
                    Casella Waste Systems, Inc.
                    
                      
                    
                    -295.00000000
                    USD
                    -25856.75000000
                    USD
                  
                  
                    Ryman Hospitality Properties, Inc.
                    
                      
                    
                    -200.00000000
                    USD
                    -18554.00000000
                    USD
                  
                  
                    Equifax, Inc.
                    
                      
                    
                    -76.00000000
                    USD
                    -18019.60000000
                    USD
                  
                  
                    Bank of America Corp.
                    
                      
                    
                    -193.00000000
                    USD
                    -7955.46000000
                    USD
                  
                  
                    Apple Hospitality REIT, Inc.
                    
                      
                    
                    -349.00000000
                    USD
                    -6271.53000000
                    USD
                  
                  
                    Booz Allen Hamilton Holding Corp.
                    
                      
                    
                    -127.00000000
                    USD
                    -11155.68000000
                    USD
                  
                  
                    Boeing Co.
                    
                      
                    
                    -125.00000000
                    USD
                    -23937.50000000
                    USD
                  
                  
                    Crowdstrike Holdings, Inc.
                    
                      
                    
                    -32.00000000
                    USD
                    -7266.56000000
                    USD
                  
                  
                    CH Robinson Worldwide, Inc.
                    
                      
                    
                    -115.00000000
                    USD
                    -12386.65000000
                    USD
                  
                  
                    Royal Caribbean Cruises Ltd.
                    
                      
                    
                    -76.00000000
                    USD
                    -6367.28000000
                    USD
                  
                  
                    Jacobs Engineering Group, Inc.
                    
                      
                    
                    -210.00000000
                    USD
                    -28940.10000000
                    USD
                  
                  
                    Welltower, Inc.
                    
                      
                    
                    -243.00000000
                    USD
                    -23362.02000000
                    USD
                  
                  
                    Okta, Inc.
                    
                      
                    
                    -19.00000000
                    USD
                    -2868.24000000
                    USD
                  
                  
                    MSA Safety, Inc.
                    
                      
                    
                    -75.00000000
                    USD
                    -9952.50000000
                    USD
                  
                  
                    Stericycle, Inc.
                    
                      
                    
                    -370.00000000
                    USD
                    -21800.40000000
                    USD
                  
                  
                    J.B. Hunt Transport Services, Inc.
                    
                      
                    
                    -54.00000000
                    USD
                    -10842.66000000
                    USD
                  
                  
                    Zscaler, Inc.
                    
                      
                    
                    -29.00000000
                    USD
                    -6997.12000000
                    USD
                  
                  
                    General Electric Co.
                    
                      
                    
                    -117.00000000
                    USD
                    -10705.50000000
                    USD
                  
                  
                    Datadog, Inc.
                    
                      
                    
                    -43.00000000
                    USD
                    -6513.21000000
                    USD
                  
                  
                    Crown Castle International Corp.
                    
                      
                    
                    -106.00000000
                    USD
                    -19567.60000000
                    USD
                  
                  
                    Sunstone Hotel Investors, Inc.
                    
                      
                    
                    -1396.00000000
                    USD
                    -16444.88000000
                    USD
                  
                  
                    RLJ Lodging Trust
                    
                      
                    
                    -1819.00000000
                    USD
                    -25611.52000000
                    USD
                  
                  
                    Tetra Tech, Inc.
                    
                      
                    
                    -113.00000000
                    USD
                    -18638.22000000
                    USD
                  
                  
                    State Street Corp.
                    
                      
                    
                    -289.00000000
                    USD
                    -25177.68000000
                    USD
                  
                  
                    Xenia Hotels & Resorts, Inc.
                    
                      
                    
                    -586.00000000
                    USD
                    -11303.94000000
                    USD
                  
                  
                    Zions Bancorp North America
                    
                      
                    
                    -294.00000000
                    USD
                    -19274.64000000
                    USD
                  
                  
                    First Republic Bank
                    
                      
                    
                    -57.00000000
                    USD
                    -9239.70000000
                    USD
                  
                  
                    Dun & Bradstreet Holdings, Inc.
                    
                      
                    
                    -572.00000000
                    USD
                    -10021.44000000
                    USD
                  
                  
                    Equinix, Inc.
                    
                      
                    
                    -30.00000000
                    USD
                    -22248.60000000
                    USD
                  
                  
                    Ventas, Inc.
                    
                      
                    
                    -296.00000000
                    USD
                    -18280.96000000
                    USD
                  
                  
                    Goldman Sachs Group, Inc.
                    
                      
                    
                    -64.00000000
                    USD
                    -21126.40000000
                    USD
                  
                  
                    Signature Bank
                    
                      
                    
                    -44.00000000
                    USD
                    -12913.56000000
                    USD
                  
                  
                    Bank of New York Mellon Corp.
                    
                      
                    
                    -122.00000000
                    USD
                    -6054.86000000
                    USD
                  
                  
                    Atlassian Corporation plc
                    
                      
                    
                    -15.00000000
                    USD
                    -4407.45000000
                    USD
                  
                  
                    Lyft, Inc.
                    
                      
                    
                    -387.00000000
                    USD
                    -14860.80000000
                    USD
                  
                  
                    Equitable Holdings, Inc.
                    
                      
                    
                    -787.00000000
                    USD
                    -24326.17000000
                    USD
                  
                  
                    Republic Services, Inc.
                    
                      
                    
                    -92.00000000
                    USD
                    -12190.00000000
                    USD
                  
                  
                    Intellia Therapeutics, Inc.
                    
                      
                    
                    -35.00000000
                    USD
                    -2543.45000000
                    USD
                  
                  
                    Copart, Inc.
                    
                      
                    
                    -208.00000000
                    USD
                    -26097.76000000
                    USD
                  
                  
                    Palo Alto Networks, Inc.
                    
                      
                    
                    -6.00000000
                    USD
                    -3735.06000000
                    USD
                  
                  
                    TransUnion
                    
                      
                    
                    -134.00000000
                    USD
                    -13847.56000000
                    USD
                  
                  
                    Park Hotels & Resorts, Inc.
                    
                      
                    
                    -1206.00000000
                    USD
                    -23553.18000000
                    USD
                  
                  
                    Sun Communities, Inc.
                    
                      
                    
                    -129.00000000
                    USD
                    -22612.41000000
                    USD
                  
                  
                    Waste Management, Inc.
                    
                      
                    
                    -89.00000000
                    USD
                    -14106.50000000
                    USD
                  
                  
                    MGM Resorts International
                    
                      
                    
                    -184.00000000
                    USD
                    -7716.96000000
                    USD
                  
                  
                    Americold Realty Trust
                    
                      
                    
                    -381.00000000
                    USD
                    -10622.28000000
                    USD
                  
                  
                    Entergy Corp.
                    
                      
                    
                    -171.00000000
                    USD
                    -19964.25000000
                    USD
                  
                  
                    Edison International
                    
                      
                    
                    -475.00000000
                    USD
                    -33297.50000000
                    USD
                  
                  
                    Howard Hughes Corp.
                    
                      
                    
                    -258.00000000
                    USD
                    -26731.38000000
                    USD
                  
                  
                    UDR, Inc.
                    
                      
                    
                    -170.00000000
                    USD
                    -9752.90000000
                    USD
                  
                  
                    Range Resources Corp.
                    
                      
                    
                    -323.00000000
                    USD
                    -9812.74000000
                    USD
                  
                  
                    Delta Air Lines, Inc.
                    
                      
                    
                    -455.00000000
                    USD
                    -18004.35000000
                    USD
                  
                  
                    Apartment Income REIT Corp.
                    
                      
                    
                    -589.00000000
                    USD
                    -31487.94000000
                    USD
                  
                  
                    ASGN, Inc.
                    
                      
                    
                    -121.00000000
                    USD
                    -14121.91000000
                    USD
                  
                  
                    Cloudflare, Inc.
                    
                      
                    
                    -55.00000000
                    USD
                    -6583.50000000
                    USD
                  
                  
                    Trade Desk, Inc.
                    
                      
                    
                    -62.00000000
                    USD
                    -4293.50000000
                    USD
                  
                  
                    JetBlue Airways Corp.
                    
                      
                    
                    -451.00000000
                    USD
                    -6742.45000000
                    USD
                  
                  
                    KBR, Inc.
                    
                      
                    
                    -469.00000000
                    USD
                    -25668.37000000
                    USD
                  
                  
                    Outfront Media, Inc.
                    
                      
                    
                    -825.00000000
                    USD
                    -23454.75000000
                    USD
                  
                  
                    Digital Realty Trust, Inc.
                    
                      
                    
                    -57.00000000
                    USD
                    -8082.60000000
                    USD
                  
                  
                    MillerKnoll, Inc.
                    
                      
                    
                    -760.00000000
                    USD
                    -26265.60000000
                    USD
                  
                  
                    Ceridian HCM Holding, Inc.
                    
                      
                    
                    -157.00000000
                    USD
                    -10732.52000000
                    USD
                  
                  
                    Hilton Worldwide Holdings, Inc.
                    
                      
                    
                    -54.00000000
                    USD
                    -8193.96000000
                    USD
                  
                  
                    Southwest Airlines Co.
                    
                      
                    
                    -249.00000000
                    USD
                    -11404.20000000
                    USD
                  
                  
                    Western Alliance Bancorporation
                    
                      
                    
                    -197.00000000
                    USD
                    -16315.54000000
                    USD
                  
                  
                    Carnival Corp.
                    
                      
                    
                    -281.00000000
                    USD
                    -5681.82000000
                    USD
                  
                  
                    Viad Corp.
                    
                      
                    
                    -393.00000000
                    USD
                    -14006.52000000
                    USD
                  
                  
                    KKR & Company, Inc.
                    
                      
                    
                    -207.00000000
                    USD
                    -12103.29000000
                    USD
                  
                  
                    Comerica, Inc.
                    
                      
                    
                    -257.00000000
                    USD
                    -23240.51000000
                    USD
                  
                  
                    Airbnb, Inc.
                    
                      
                    
                    -21.00000000
                    USD
                    -3606.96000000
                    USD
                  
                  
                    Safehold, Inc.
                    
                      
                    
                    -142.00000000
                    USD
                    -7873.90000000
                    USD
                  
                  
                    UnitedHealth Group, Inc.
                    
                      
                    
                    -17.00000000
                    USD
                    -8669.49000000
                    USD
                  
                  
                    CBRE Group, Inc.
                    
                      
                    
                    -115.00000000
                    USD
                    -10524.80000000
                    USD
                  
                  
                    Pebblebrook Hotel Trust
                    
                      
                    
                    -840.00000000
                    USD
                    -20563.20000000
                    USD
                  
                  
                    Bill.com Holdings, Inc.
                    
                      
                    
                    -29.00000000
                    USD
                    -6576.91000000
                    USD
                  
                  
                    Black Hills Corp.
                    
                      
                    
                    -433.00000000
                    USD
                    -33349.66000000
                    USD
                  
                  
                    Iron Mountain, Inc.
                    
                      
                    
                    -419.00000000
                    USD
                    -23216.79000000
                    USD
                  
                  
                    Regions Financial Corp.
                    
                      
                    
                    -360.00000000
                    USD
                    -8013.60000000
                    USD
                  
                  
                    Northern Trust Corp.
                    
                      
                    
                    -163.00000000
                    USD
                    -18981.35000000
                    USD
                  
                  
                    Atmos Energy Corp.
                    
                      
                    
                    -273.00000000
                    USD
                    -32620.77000000
                    USD
                  
                  
                    SVB Financial Group
                    
                      
                    
                    -21.00000000
                    USD
                    -11748.45000000
                    USD
                  
                  
                    CenterPoint Energy, Inc.
                    
                      
                    
                    -1095.00000000
                    USD
                    -33550.80000000
                    USD
                  
                  
                    Cooper Companies, Inc.
                    
                      
                    
                    -15.00000000
                    USD
                    -6263.85000000
                    USD
                  
                  
                    DoorDash, Inc.
                    
                      
                    
                    -58.00000000
                    USD
                    -6797.02000000
                    USD
                  
                  
                    Lincoln National Corp.
                    
                      
                    
                    -109.00000000
                    USD
                    -7124.24000000
                    USD
                  
                
              
            
            Y
            
              
                
              
            
            MS Equity Custom Basket - Tenor At Maturity
            2024-02-01
            0.00000000
            USD
            0.00000000
            USD
            -1766790.11000000
            USD
            -59307.25000000
          
        
        
          N
          N
          N
        
      
      
        Hologic Inc
        549300DYP6F5ZJL0LB74
        Hologic, Inc.
        436440101
        
          
        
        477.00000000
        NS
        USD
        36643.14000000
        0.910004831999
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Methode Electronics Inc
        529900VM413LGLUS3F07
        Methode Electronics, Inc.
        591520200
        
          
        
        322.00000000
        NS
        USD
        13926.50000000
        0.345854156953
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Western Union Co/The
        28ID94QU1140NC23S047
        Western Union Co.
        959802109
        
          
        
        853.00000000
        NS
        USD
        15985.22000000
        0.396980920318
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Eagle Pharmaceuticals Inc/DE
        549300TN20OLYTJVP152
        Eagle Pharmaceuticals, Inc.
        269796108
        
          
        
        530.00000000
        NS
        USD
        26229.70000000
        0.651394878875
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Westlake Corp
        GOXNEVUM0LL78B1OS344
        Westlake Corp.
        960413102
        
          
        
        249.00000000
        NS
        USD
        30726.60000000
        0.763072009410
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ziff Davis Inc
        5493008OJYGLHD7MXA18
        Ziff Davis, Inc.
        48123V102
        
          
        
        117.00000000
        NS
        USD
        11323.26000000
        0.281204648782
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Old Republic International Cor
        549300IV6O2YY2A1KH37
        Old Republic International Corp.
        680223104
        
          
        
        1391.00000000
        NS
        USD
        35985.17000000
        0.893664641740
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Royalty Pharma PLC
        549300FGFN7VOK8BZR03
        Royalty Pharma plc
        N/A
        
          
        
        421.00000000
        NS
        USD
        16402.16000000
        0.407335311745
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Rambus Inc
        2549000211GDCQSLV833
        Rambus, Inc.
        750917106
        
          
        
        945.00000000
        NS
        USD
        30136.05000000
        0.748406144161
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        International Paper Co
        824LMFJDH41EY779Q875
        International Paper Co.
        460146103
        
          
        
        628.00000000
        NS
        USD
        28982.20000000
        0.719751146926
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Equity Commonwealth
        549300YPGVU9PR4L0606
        Equity Commonwealth
        294628102
        
          
        
        788.00000000
        NS
        USD
        22229.48000000
        0.552052422713
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Easterly Government Properties
        549300ERMCEFC6S8HL77
        Easterly Government Properties, Inc.
        27616P103
        
          
        
        653.00000000
        NS
        USD
        13804.42000000
        0.342822391938
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Snap-on Inc
        HHWAT5TDOYZMM26KKQ73
        Snap-on, Inc.
        833034101
        
          
        
        175.00000000
        NS
        USD
        35959.00000000
        0.893014729465
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Skyworks Solutions Inc
        549300WZ3ORQ2BVKBD96
        Skyworks Solutions, Inc.
        83088M102
        
          
        
        63.00000000
        NS
        USD
        8396.64000000
        0.208524241442
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Packaging Corp of America
        549300XZP8MFZFY8TJ84
        Packaging Corporation of America
        695156109
        
          
        
        200.00000000
        NS
        USD
        31222.00000000
        0.775374895947
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hillenbrand Inc
        U246OE781574J2BUD366
        Hillenbrand, Inc.
        431571108
        
          
        
        553.00000000
        NS
        USD
        24426.01000000
        0.606601593817
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        UFP Industries Inc
        5493007KB485C9OV5572
        UFP Industries, Inc.
        90278Q108
        
          
        
        135.00000000
        NS
        USD
        10416.60000000
        0.258688429348
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        OSI Systems Inc
        DDX3MPX1Y8YD30050X33
        OSI Systems, Inc.
        671044105
        
          
        
        262.00000000
        NS
        USD
        22301.44000000
        0.553839495211
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HomeStreet Inc
        N/A
        HomeStreet, Inc.
        43785V102
        
          
        
        517.00000000
        NS
        USD
        24495.46000000
        0.608326332351
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Vontier Corp
        549300VVSQLG4P5K4639
        Vontier Corp.
        928881101
        
          
        
        507.00000000
        NS
        USD
        12872.73000000
        0.319684571273
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Sanmina Corp
        X5K24XLM8QYRXF00EB42
        Sanmina Corp.
        801056102
        
          
        
        871.00000000
        NS
        USD
        35205.82000000
        0.874310070439
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Stewart Information Services C
        529900TV1XI0PLKENU10
        Stewart Information Services Corp.
        860372101
        
          
        
        551.00000000
        NS
        USD
        33396.11000000
        0.829367283207
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Interpublic Group of Cos Inc/T
        5493008IUOJ5VWTRC333
        Interpublic Group of Companies, Inc.
        460690100
        
          
        
        561.00000000
        NS
        USD
        19887.45000000
        0.493889868503
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Amgen Inc
        62QBXGPJ34PQ72Z12S66
        Amgen, Inc.
        031162100
        
          
        
        156.00000000
        NS
        USD
        37723.92000000
        0.936845190722
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Garmin Ltd
        2549001E0HIPIJQ0W046
        Garmin Ltd.
        N/A
        
          
        
        352.00000000
        NS
        USD
        41750.72000000
        1.036847741199
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Comcast Corp
        51M0QTTNCGUN7KFCFZ59
        Comcast Corp.
        20030N101
        
          
        
        837.00000000
        NS
        USD
        39188.34000000
        0.973212960408
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        California Water Service Group
        529900QABDOBU6UVRQ36
        California Water Service Group
        130788102
        
          
        
        201.00000000
        NS
        USD
        11915.28000000
        0.295907020376
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Perdoceo Education Corp
        529900X5PCA184O9LY90
        Perdoceo Education Corp.
        71363P106
        
          
        
        2829.00000000
        NS
        USD
        32476.92000000
        0.806539890644
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Buckle Inc/The
        5299007IU0461T3GDL34
        Buckle, Inc.
        118440106
        
          
        
        201.00000000
        NS
        USD
        6641.04000000
        0.164925235378
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Radian Group Inc
        54930005OUP720S5U385
        Radian Group, Inc.
        750236101
        
          
        
        1421.00000000
        NS
        USD
        31560.41000000
        0.783779053866
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Arch Capital Group Ltd
        549300AYR4P8AFKDCE43
        Arch Capital Group Ltd.
        N/A
        
          
        
        926.00000000
        NS
        USD
        44836.92000000
        1.113491197860
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Corteva Inc
        549300WZN9I2QKLS0O94
        Corteva, Inc.
        22052L104
        
          
        
        178.00000000
        NS
        USD
        10231.44000000
        0.254090119960
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Nexstar Media Group Inc
        52990083ZRR5UT591988
        Nexstar Media Group, Inc.
        65336K103
        
          
        
        107.00000000
        NS
        USD
        20167.36000000
        0.500841222904
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Columbia Sportswear Co
        549300OTMCIEUXAH5Z60
        Columbia Sportswear Co.
        198516106
        
          
        
        185.00000000
        NS
        USD
        16748.05000000
        0.415925229840
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Yelp Inc
        5299007OU2DOSXPQBO35
        Yelp, Inc.
        985817105
        
          
        
        686.00000000
        NS
        USD
        23399.46000000
        0.581107996372
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fulton Financial Corp
        5493005QLZ6O1BNC0C11
        Fulton Financial Corp.
        360271100
        
          
        
        1814.00000000
        NS
        USD
        30148.68000000
        0.748719800716
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AutoZone Inc
        GA3JGKJ41LJKXDN23E90
        AutoZone, Inc.
        053332102
        
          
        
        22.00000000
        NS
        USD
        44980.76000000
        1.117063356115
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Morgan Stanley Capital Services LLC
        I7331LVCZKQKX5T7XV54
        MS Equity Custom Basket
        N/A
        
          
        
        0.00000000
        NC
        USD
        16263.55000000
        0.403893036608
        N/A
        DE
        
        US
        N
        
        2
        
          
            
              Morgan Stanley Capital Services LLC
              I7331LVCZKQKX5T7XV54
            
            
              
                MS Equity Long Custom Basket
                N/A
                
                  
                    Exxon Mobil Corp.
                    
                      
                    
                    38.00000000
                    USD
                    3138.42000000
                    USD
                  
                  
                    NVR, Inc.
                    
                      
                    
                    2.00000000
                    USD
                    8934.54000000
                    USD
                  
                  
                    Qorvo, Inc.
                    
                      
                    
                    14.00000000
                    USD
                    1737.40000000
                    USD
                  
                  
                    Hilltop Holdings, Inc.
                    
                      
                    
                    158.00000000
                    USD
                    4645.20000000
                    USD
                  
                  
                    Easterly Government Properties, Inc.
                    
                      
                    
                    140.00000000
                    USD
                    2959.60000000
                    USD
                  
                  
                    Vontier Corp.
                    
                      
                    
                    108.00000000
                    USD
                    2742.12000000
                    USD
                  
                  
                    NewMarket Corp.
                    
                      
                    
                    7.00000000
                    USD
                    2270.66000000
                    USD
                  
                  
                    Shenandoah Telecommunications Co.
                    
                      
                    
                    159.00000000
                    USD
                    3749.22000000
                    USD
                  
                  
                    Viavi Solutions, Inc.
                    
                      
                    
                    299.00000000
                    USD
                    4807.92000000
                    USD
                  
                  
                    NETGEAR, Inc.
                    
                      
                    
                    68.00000000
                    USD
                    1678.24000000
                    USD
                  
                  
                    Amphastar Pharmaceuticals, Inc.
                    
                      
                    
                    178.00000000
                    USD
                    6390.20000000
                    USD
                  
                  
                    Nexstar Media Group, Inc.
                    
                      
                    
                    23.00000000
                    USD
                    4335.04000000
                    USD
                  
                  
                    LyondellBasell Industries N.V.
                    
                      
                    
                    71.00000000
                    USD
                    7300.22000000
                    USD
                  
                  
                    Garmin Ltd.
                    
                      
                    
                    75.00000000
                    USD
                    8895.75000000
                    USD
                  
                  
                    WEC Energy Group, Inc.
                    
                      
                    
                    36.00000000
                    USD
                    3593.16000000
                    USD
                  
                  
                    Dorian LPG Ltd.
                    
                      
                    
                    174.00000000
                    USD
                    2521.26000000
                    USD
                  
                  
                    EVERTEC, Inc.
                    
                      
                    
                    102.00000000
                    USD
                    4174.86000000
                    USD
                  
                  
                    Evercore, Inc.
                    
                      
                    
                    51.00000000
                    USD
                    5677.32000000
                    USD
                  
                  
                    Chesapeake Utilities Corp.
                    
                      
                    
                    60.00000000
                    USD
                    8265.60000000
                    USD
                  
                  
                    OneMain Holdings, Inc.
                    
                      
                    
                    94.00000000
                    USD
                    4456.54000000
                    USD
                  
                  
                    Abbott Laboratories
                    
                      
                    
                    34.00000000
                    USD
                    4024.24000000
                    USD
                  
                  
                    Skyworks Solutions, Inc.
                    
                      
                    
                    13.00000000
                    USD
                    1732.64000000
                    USD
                  
                  
                    Yelp, Inc.
                    
                      
                    
                    147.00000000
                    USD
                    5014.17000000
                    USD
                  
                  
                    National Bank Holdings Corp.
                    
                      
                    
                    215.00000000
                    USD
                    8660.20000000
                    USD
                  
                  
                    Vertex Pharmaceuticals, Inc.
                    
                      
                    
                    18.00000000
                    USD
                    4697.46000000
                    USD
                  
                  
                    Akamai Technologies, Inc.
                    
                      
                    
                    24.00000000
                    USD
                    2865.36000000
                    USD
                  
                  
                    InterDigital, Inc.
                    
                      
                    
                    54.00000000
                    USD
                    3445.20000000
                    USD
                  
                  
                    SS&C Technologies Holdings, Inc.
                    
                      
                    
                    24.00000000
                    USD
                    1800.48000000
                    USD
                  
                  
                    CSG Systems International, Inc.
                    
                      
                    
                    148.00000000
                    USD
                    9408.36000000
                    USD
                  
                  
                    BankUnited, Inc.
                    
                      
                    
                    126.00000000
                    USD
                    5538.96000000
                    USD
                  
                  
                    Acushnet Holdings Corp.
                    
                      
                    
                    102.00000000
                    USD
                    4106.52000000
                    USD
                  
                  
                    PS Business Parks, Inc.
                    
                      
                    
                    33.00000000
                    USD
                    5546.64000000
                    USD
                  
                  
                    Ziff Davis, Inc.
                    
                      
                    
                    25.00000000
                    USD
                    2419.50000000
                    USD
                  
                  
                    Knowles Corp.
                    
                      
                    
                    430.00000000
                    USD
                    9257.90000000
                    USD
                  
                  
                    Snap-on, Inc.
                    
                      
                    
                    37.00000000
                    USD
                    7602.76000000
                    USD
                  
                  
                    Cummins, Inc.
                    
                      
                    
                    30.00000000
                    USD
                    6153.30000000
                    USD
                  
                  
                    Dolby Laboratories, Inc.
                    
                      
                    
                    70.00000000
                    USD
                    5475.40000000
                    USD
                  
                  
                    Johnson & Johnson
                    
                      
                    
                    55.00000000
                    USD
                    9747.65000000
                    USD
                  
                  
                    Kinder Morgan, Inc.
                    
                      
                    
                    269.00000000
                    USD
                    5086.79000000
                    USD
                  
                  
                    Piper Sandler Cos.
                    
                      
                    
                    38.00000000
                    USD
                    4987.50000000
                    USD
                  
                  
                    Royalty Pharma plc
                    
                      
                    
                    90.00000000
                    USD
                    3506.40000000
                    USD
                  
                  
                    AutoZone, Inc.
                    
                      
                    
                    5.00000000
                    USD
                    10222.90000000
                    USD
                  
                  
                    Enstar Group Ltd.
                    
                      
                    
                    33.00000000
                    USD
                    8617.95000000
                    USD
                  
                  
                    Whirlpool Corp.
                    
                      
                    
                    44.00000000
                    USD
                    7602.32000000
                    USD
                  
                  
                    Insteel Industries, Inc.
                    
                      
                    
                    57.00000000
                    USD
                    2108.43000000
                    USD
                  
                  
                    CMS Energy Corp.
                    
                      
                    
                    142.00000000
                    USD
                    9931.48000000
                    USD
                  
                  
                    John B Sanfilippo & Son, Inc.
                    
                      
                    
                    108.00000000
                    USD
                    9011.52000000
                    USD
                  
                  
                    PotlatchDeltic Corp.
                    
                      
                    
                    57.00000000
                    USD
                    3005.61000000
                    USD
                  
                  
                    Zumiez, Inc.
                    
                      
                    
                    59.00000000
                    USD
                    2254.39000000
                    USD
                  
                  
                    Otter Tail Corp.
                    
                      
                    
                    82.00000000
                    USD
                    5125.00000000
                    USD
                  
                  
                    Western Union Co.
                    
                      
                    
                    182.00000000
                    USD
                    3410.68000000
                    USD
                  
                  
                    Dropbox, Inc.
                    
                      
                    
                    83.00000000
                    USD
                    1929.75000000
                    USD
                  
                  
                    Lumentum Holdings, Inc.
                    
                      
                    
                    26.00000000
                    USD
                    2537.60000000
                    USD
                  
                  
                    Xperi Holding Corp.
                    
                      
                    
                    212.00000000
                    USD
                    3671.84000000
                    USD
                  
                  
                    Intel Corp.
                    
                      
                    
                    71.00000000
                    USD
                    3518.76000000
                    USD
                  
                  
                    Meta Financial Group, Inc.
                    
                      
                    
                    76.00000000
                    USD
                    4173.92000000
                    USD
                  
                  
                    Essent Group Ltd.
                    
                      
                    
                    119.00000000
                    USD
                    4903.99000000
                    USD
                  
                  
                    MarineMax, Inc.
                    
                      
                    
                    44.00000000
                    USD
                    1771.44000000
                    USD
                  
                  
                    USANA Health Sciences, Inc.
                    
                      
                    
                    61.00000000
                    USD
                    4846.45000000
                    USD
                  
                  
                    Corteva, Inc.
                    
                      
                    
                    38.00000000
                    USD
                    2184.24000000
                    USD
                  
                  
                    Autoliv, Inc.
                    
                      
                    
                    29.00000000
                    USD
                    2216.76000000
                    USD
                  
                  
                    Portland General Electric Co.
                    
                      
                    
                    150.00000000
                    USD
                    8272.50000000
                    USD
                  
                  
                    PulteGroup, Inc.
                    
                      
                    
                    61.00000000
                    USD
                    2555.90000000
                    USD
                  
                  
                    National Fuel Gas Co.
                    
                      
                    
                    141.00000000
                    USD
                    9686.70000000
                    USD
                  
                  
                    Interactive Brokers Group, Inc.
                    
                      
                    
                    78.00000000
                    USD
                    5140.98000000
                    USD
                  
                  
                    AdvanSix, Inc.
                    
                      
                    
                    68.00000000
                    USD
                    3474.12000000
                    USD
                  
                  
                    Janus Henderson Group plc
                    
                      
                    
                    103.00000000
                    USD
                    3607.06000000
                    USD
                  
                  
                    Bio-Rad Laboratories, Inc.
                    
                      
                    
                    9.00000000
                    USD
                    5069.07000000
                    USD
                  
                  
                    Dow, Inc.
                    
                      
                    
                    117.00000000
                    USD
                    7455.24000000
                    USD
                  
                  
                    Haverty Furniture Companies, Inc.
                    
                      
                    
                    63.00000000
                    USD
                    1727.46000000
                    USD
                  
                  
                    Pfizer, Inc.
                    
                      
                    
                    56.00000000
                    USD
                    2899.12000000
                    USD
                  
                  
                    WP Carey, Inc.
                    
                      
                    
                    24.00000000
                    USD
                    1940.16000000
                    USD
                  
                  
                    Hillenbrand, Inc.
                    
                      
                    
                    118.00000000
                    USD
                    5212.06000000
                    USD
                  
                  
                    MGE Energy, Inc.
                    
                      
                    
                    125.00000000
                    USD
                    9973.75000000
                    USD
                  
                  
                    Toll Brothers, Inc.
                    
                      
                    
                    47.00000000
                    USD
                    2209.94000000
                    USD
                  
                  
                    Westlake Corp.
                    
                      
                    
                    53.00000000
                    USD
                    6540.20000000
                    USD
                  
                  
                    Gilead Sciences, Inc.
                    
                      
                    
                    150.00000000
                    USD
                    8917.50000000
                    USD
                  
                  
                    Jack in the Box, Inc.
                    
                      
                    
                    26.00000000
                    USD
                    2428.66000000
                    USD
                  
                  
                    Owens Corning
                    
                      
                    
                    31.00000000
                    USD
                    2836.50000000
                    USD
                  
                  
                    Ethan Allen Interiors, Inc.
                    
                      
                    
                    174.00000000
                    USD
                    4536.18000000
                    USD
                  
                  
                    IDACORP, Inc.
                    
                      
                    
                    73.00000000
                    USD
                    8421.28000000
                    USD
                  
                  
                    Safety Insurance Group, Inc.
                    
                      
                    
                    110.00000000
                    USD
                    9993.50000000
                    USD
                  
                  
                    Exelixis, Inc.
                    
                      
                    
                    128.00000000
                    USD
                    2901.76000000
                    USD
                  
                  
                    Mueller Industries, Inc.
                    
                      
                    
                    161.00000000
                    USD
                    8721.37000000
                    USD
                  
                  
                    Fulton Financial Corp.
                    
                      
                    
                    388.00000000
                    USD
                    6448.56000000
                    USD
                  
                  
                    Minerals Technologies, Inc.
                    
                      
                    
                    60.00000000
                    USD
                    3969.00000000
                    USD
                  
                  
                    Keysight Technologies, Inc.
                    
                      
                    
                    11.00000000
                    USD
                    1737.67000000
                    USD
                  
                  
                    Vishay Intertechnology, Inc.
                    
                      
                    
                    485.00000000
                    USD
                    9506.00000000
                    USD
                  
                  
                    United Bankshares, Inc.
                    
                      
                    
                    183.00000000
                    USD
                    6383.04000000
                    USD
                  
                  
                    Brunswick Corp.
                    
                      
                    
                    40.00000000
                    USD
                    3235.60000000
                    USD
                  
                  
                    Meta Platforms, Inc.
                    
                      
                    
                    42.00000000
                    USD
                    9339.12000000
                    USD
                  
                  
                    Eagle Materials, Inc.
                    
                      
                    
                    32.00000000
                    USD
                    4107.52000000
                    USD
                  
                  
                    Bristol-Myers Squibb Co.
                    
                      
                    
                    134.00000000
                    USD
                    9786.02000000
                    USD
                  
                  
                    Markel Corp.
                    
                      
                    
                    3.00000000
                    USD
                    4425.72000000
                    USD
                  
                  
                    Methode Electronics, Inc.
                    
                      
                    
                    69.00000000
                    USD
                    2984.25000000
                    USD
                  
                  
                    AutoNation, Inc.
                    
                      
                    
                    25.00000000
                    USD
                    2489.50000000
                    USD
                  
                  
                    OSI Systems, Inc.
                    
                      
                    
                    56.00000000
                    USD
                    4766.72000000
                    USD
                  
                  
                    International Paper Co.
                    
                      
                    
                    134.00000000
                    USD
                    6184.10000000
                    USD
                  
                  
                    Quest Diagnostics, Inc.
                    
                      
                    
                    30.00000000
                    USD
                    4105.80000000
                    USD
                  
                  
                    Louisiana-Pacific Corp.
                    
                      
                    
                    46.00000000
                    USD
                    2857.52000000
                    USD
                  
                  
                    UFP Industries, Inc.
                    
                      
                    
                    28.00000000
                    USD
                    2160.48000000
                    USD
                  
                  
                    Gentex Corp.
                    
                      
                    
                    316.00000000
                    USD
                    9217.72000000
                    USD
                  
                  
                    Packaging Corporation of America
                    
                      
                    
                    43.00000000
                    USD
                    6712.73000000
                    USD
                  
                  
                    NetScout Systems, Inc.
                    
                      
                    
                    60.00000000
                    USD
                    1924.80000000
                    USD
                  
                  
                    Molson Coors Beverage Co.
                    
                      
                    
                    132.00000000
                    USD
                    7046.16000000
                    USD
                  
                  
                    Merck & Company, Inc.
                    
                      
                    
                    47.00000000
                    USD
                    3856.35000000
                    USD
                  
                  
                    Comcast Corp.
                    
                      
                    
                    179.00000000
                    USD
                    8380.78000000
                    USD
                  
                  
                    LKQ Corp.
                    
                      
                    
                    61.00000000
                    USD
                    2770.01000000
                    USD
                  
                  
                    Arrow Electronics, Inc.
                    
                      
                    
                    15.00000000
                    USD
                    1779.45000000
                    USD
                  
                  
                    Old Republic International Corp.
                    
                      
                    
                    298.00000000
                    USD
                    7709.26000000
                    USD
                  
                  
                    NetApp, Inc.
                    
                      
                    
                    53.00000000
                    USD
                    4399.00000000
                    USD
                  
                  
                    Encore Wire Corp.
                    
                      
                    
                    33.00000000
                    USD
                    3764.31000000
                    USD
                  
                  
                    Sanmina Corp.
                    
                      
                    
                    186.00000000
                    USD
                    7518.12000000
                    USD
                  
                  
                    HomeStreet, Inc.
                    
                      
                    
                    110.00000000
                    USD
                    5211.80000000
                    USD
                  
                  
                    Verizon Communications, Inc.
                    
                      
                    
                    169.00000000
                    USD
                    8608.86000000
                    USD
                  
                  
                    Eagle Pharmaceuticals, Inc.
                    
                      
                    
                    113.00000000
                    USD
                    5592.37000000
                    USD
                  
                  
                    Allison Transmission Holdings, Inc.
                    
                      
                    
                    151.00000000
                    USD
                    5928.26000000
                    USD
                  
                  
                    Innoviva, Inc.
                    
                      
                    
                    362.00000000
                    USD
                    7004.70000000
                    USD
                  
                  
                    TTM Technologies, Inc.
                    
                      
                    
                    445.00000000
                    USD
                    6594.90000000
                    USD
                  
                  
                    Amgen, Inc.
                    
                      
                    
                    33.00000000
                    USD
                    7980.06000000
                    USD
                  
                  
                    Arch Capital Group Ltd.
                    
                      
                    
                    198.00000000
                    USD
                    9587.16000000
                    USD
                  
                  
                    F5, Inc.
                    
                      
                    
                    9.00000000
                    USD
                    1880.55000000
                    USD
                  
                  
                    California Water Service Group
                    
                      
                    
                    43.00000000
                    USD
                    2549.04000000
                    USD
                  
                  
                    Sturm Ruger & Company, Inc.
                    
                      
                    
                    108.00000000
                    USD
                    7518.96000000
                    USD
                  
                  
                    Genpact Ltd.
                    
                      
                    
                    43.00000000
                    USD
                    1870.93000000
                    USD
                  
                  
                    Rambus, Inc.
                    
                      
                    
                    202.00000000
                    USD
                    6441.78000000
                    USD
                  
                  
                    Columbia Sportswear Co.
                    
                      
                    
                    46.00000000
                    USD
                    4164.38000000
                    USD
                  
                  
                    Albany International Corp.
                    
                      
                    
                    32.00000000
                    USD
                    2698.24000000
                    USD
                  
                  
                    Juniper Networks, Inc.
                    
                      
                    
                    67.00000000
                    USD
                    2489.72000000
                    USD
                  
                  
                    ExlService Holdings, Inc.
                    
                      
                    
                    19.00000000
                    USD
                    2722.13000000
                    USD
                  
                  
                    Halozyme Therapeutics, Inc.
                    
                      
                    
                    59.00000000
                    USD
                    2352.92000000
                    USD
                  
                  
                    Cisco Systems, Inc.
                    
                      
                    
                    90.00000000
                    USD
                    5018.40000000
                    USD
                  
                  
                    AMERISAFE, Inc.
                    
                      
                    
                    131.00000000
                    USD
                    6506.77000000
                    USD
                  
                  
                    Raymond James Financial, Inc.
                    
                      
                    
                    45.00000000
                    USD
                    4945.95000000
                    USD
                  
                  
                    Stewart Information Services Corp.
                    
                      
                    
                    118.00000000
                    USD
                    7151.98000000
                    USD
                  
                  
                    First American Financial Corp.
                    
                      
                    
                    54.00000000
                    USD
                    3500.28000000
                    USD
                  
                  
                    Perdoceo Education Corp.
                    
                      
                    
                    606.00000000
                    USD
                    6956.88000000
                    USD
                  
                  
                    Regeneron Pharmaceuticals, Inc.
                    
                      
                    
                    9.00000000
                    USD
                    6285.78000000
                    USD
                  
                  
                    Everest Re Group Ltd.
                    
                      
                    
                    18.00000000
                    USD
                    5424.84000000
                    USD
                  
                  
                    AbbVie, Inc.
                    
                      
                    
                    49.00000000
                    USD
                    7943.39000000
                    USD
                  
                  
                    United Therapeutics Corp.
                    
                      
                    
                    17.00000000
                    USD
                    3049.97000000
                    USD
                  
                  
                    Radian Group, Inc.
                    
                      
                    
                    304.00000000
                    USD
                    6751.84000000
                    USD
                  
                  
                    Mercury General Corp.
                    
                      
                    
                    171.00000000
                    USD
                    9405.00000000
                    USD
                  
                  
                    Vanda Pharmaceuticals, Inc.
                    
                      
                    
                    316.00000000
                    USD
                    3573.96000000
                    USD
                  
                  
                    Duke Energy Corp.
                    
                      
                    
                    77.00000000
                    USD
                    8597.82000000
                    USD
                  
                  
                    Tapestry, Inc.
                    
                      
                    
                    66.00000000
                    USD
                    2451.90000000
                    USD
                  
                  
                    Incyte Corp.
                    
                      
                    
                    71.00000000
                    USD
                    5638.82000000
                    USD
                  
                  
                    Fidelity National Financial, Inc.
                    
                      
                    
                    111.00000000
                    USD
                    5421.24000000
                    USD
                  
                  
                    Travelers Companies, Inc.
                    
                      
                    
                    41.00000000
                    USD
                    7491.93000000
                    USD
                  
                  
                    Shoe Carnival, Inc.
                    
                      
                    
                    64.00000000
                    USD
                    1866.24000000
                    USD
                  
                  
                    MGIC Investment Corp.
                    
                      
                    
                    457.00000000
                    USD
                    6192.35000000
                    USD
                  
                  
                    Southern Co.
                    
                      
                    
                    65.00000000
                    USD
                    4713.15000000
                    USD
                  
                  
                    Buckle, Inc.
                    
                      
                    
                    81.00000000
                    USD
                    2676.24000000
                    USD
                  
                  
                    Prestige Consumer Healthcare, Inc.
                    
                      
                    
                    82.00000000
                    USD
                    4341.08000000
                    USD
                  
                  
                    Interpublic Group of Companies, Inc.
                    
                      
                    
                    120.00000000
                    USD
                    4254.00000000
                    USD
                  
                  
                    Preferred Bank/Los Angeles CA
                    
                      
                    
                    96.00000000
                    USD
                    7112.64000000
                    USD
                  
                  
                    Citigroup, Inc.
                    
                      
                    
                    53.00000000
                    USD
                    2830.20000000
                    USD
                  
                  
                    Hologic, Inc.
                    
                      
                    
                    102.00000000
                    USD
                    7835.64000000
                    USD
                  
                  
                    Premier, Inc.
                    
                      
                    
                    50.00000000
                    USD
                    1779.50000000
                    USD
                  
                  
                    Tri Pointe Homes, Inc.
                    
                      
                    
                    173.00000000
                    USD
                    3473.84000000
                    USD
                  
                  
                    Waters Corp.
                    
                      
                    
                    10.00000000
                    USD
                    3103.90000000
                    USD
                  
                  
                    CommVault Systems, Inc.
                    
                      
                    
                    28.00000000
                    USD
                    1857.80000000
                    USD
                  
                  
                    Omnicom Group, Inc.
                    
                      
                    
                    43.00000000
                    USD
                    3649.84000000
                    USD
                  
                  
                    Crane Co.
                    
                      
                    
                    43.00000000
                    USD
                    4656.04000000
                    USD
                  
                  
                    Laboratory Corporation of America Holdings
                    
                      
                    
                    10.00000000
                    USD
                    2636.60000000
                    USD
                  
                  
                    Reliance Steel & Aluminum Co.
                    
                      
                    
                    18.00000000
                    USD
                    3300.30000000
                    USD
                  
                  
                    3M Co.
                    
                      
                    
                    62.00000000
                    USD
                    9230.56000000
                    USD
                  
                  
                    Alphabet, Inc.
                    
                      
                    
                    1.00000000
                    USD
                    2792.99000000
                    USD
                  
                  
                    Progress Software Corp.
                    
                      
                    
                    71.00000000
                    USD
                    3343.39000000
                    USD
                  
                  
                    PPL Corp.
                    
                      
                    
                    178.00000000
                    USD
                    5083.68000000
                    USD
                  
                  
                    Equity Commonwealth
                    
                      
                    
                    168.00000000
                    USD
                    4739.28000000
                    USD
                  
                
              
            
            Y
            MS Equity Custom Basket - Tenor At Maturity
            
              
                
              
            
            2024-02-01
            0.00000000
            USD
            0.00000000
            USD
            859264.82000000
            USD
            16263.55000000
          
        
        
          N
          N
          N
        
      
      
        First American Financial Corp
        549300B6VEZK3N0A1P55
        First American Financial Corp.
        31847R102
        
          
        
        252.00000000
        NS
        USD
        16334.64000000
        0.405658503309
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dropbox Inc
        549300JCDF7UAR6TJR51
        Dropbox, Inc.
        26210C104
        
          
        
        391.00000000
        NS
        USD
        9090.75000000
        0.225761941430
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AMERISAFE Inc
        2549002B4EXPBLGMNN22
        AMERISAFE, Inc.
        03071H100
        
          
        
        615.00000000
        NS
        USD
        30547.05000000
        0.758613020154
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Piper Sandler Cos
        QUQDBTUSOAKFEVMRMF78
        Piper Sandler Cos.
        724078100
        
          
        
        180.00000000
        NS
        USD
        23625.00000000
        0.586709112701
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Louisiana-Pacific Corp
        549300C7E2UAO5BVRR75
        Louisiana-Pacific Corp.
        546347105
        
          
        
        217.00000000
        NS
        USD
        13480.04000000
        0.334766658521
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NewMarket Corp
        54930082CG88ERDREQ47
        NewMarket Corp.
        651587107
        
          
        
        34.00000000
        NS
        USD
        11028.92000000
        0.273894936180
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AbbVie Inc
        FR5LCKFTG8054YNNRU85
        AbbVie, Inc.
        00287Y109
        
          
        
        230.00000000
        NS
        USD
        37285.30000000
        0.925952392795
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SS&C Technologies Holdings Inc
        529900POY8H7NPPNKK71
        SS&C Technologies Holdings, Inc.
        78467J100
        
          
        
        113.00000000
        NS
        USD
        8477.26000000
        0.210526378528
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Progress Software Corp
        549300R65B3JG6972S24
        Progress Software Corp.
        743312100
        
          
        
        332.00000000
        NS
        USD
        15633.88000000
        0.388255655571
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CommVault Systems Inc
        65T5VRP62VXG39YFML83
        CommVault Systems, Inc.
        204166102
        
          
        
        133.00000000
        NS
        USD
        8824.55000000
        0.219151064570
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Chesapeake Utilities Corp
        254900WW0FDCKAOCKE74
        Chesapeake Utilities Corp.
        165303108
        
          
        
        284.00000000
        NS
        USD
        39123.84000000
        0.971611151401
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Encore Wire Corp
        N/A
        Encore Wire Corp.
        292562105
        
          
        
        156.00000000
        NS
        USD
        17794.92000000
        0.441923459208
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Eagle Materials Inc
        529900KRXRGXL61SG039
        Eagle Materials, Inc.
        26969P108
        
          
        
        152.00000000
        NS
        USD
        19510.72000000
        0.484534062195
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Pfizer Inc
        765LHXWGK1KXCLTFYQ30
        Pfizer, Inc.
        717081103
        
          
        
        264.00000000
        NS
        USD
        13667.28000000
        0.339416623146
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Meta Financial Group Inc
        5493004X52BH1NBLW813
        Meta Financial Group, Inc.
        59100U108
        
          
        
        356.00000000
        NS
        USD
        19551.52000000
        0.485547299520
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Jack in the Box Inc
        5493002OJW26P0SUUP68
        Jack in the Box, Inc.
        466367109
        
          
        
        121.00000000
        NS
        USD
        11302.61000000
        0.280691821558
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Citigroup Inc
        6SHGI4ZSSLCXXQSBB395
        Citigroup, Inc.
        172967424
        
          
        
        250.00000000
        NS
        USD
        13350.00000000
        0.331537212891
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        USANA Health Sciences Inc
        549300YTURXE814MAH96
        USANA Health Sciences, Inc.
        90328M107
        
          
        
        288.00000000
        NS
        USD
        22881.60000000
        0.568247332621
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Amphastar Pharmaceuticals Inc
        54930055TH0ZLSAQMJ38
        Amphastar Pharmaceuticals, Inc.
        03209R103
        
          
        
        834.00000000
        NS
        USD
        29940.60000000
        0.743552290359
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Shenandoah Telecommunications
        549300XH3H4OUKFPHS84
        Shenandoah Telecommunications Co.
        82312B106
        
          
        
        745.00000000
        NS
        USD
        17567.10000000
        0.436265720793
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lumentum Holdings Inc
        549300JLWRRC38DWEF52
        Lumentum Holdings, Inc.
        55024U109
        
          
        
        123.00000000
        NS
        USD
        12004.80000000
        0.298130182271
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        TTM Technologies Inc
        549300SC4BDOIS008048
        TTM Technologies, Inc.
        87305R109
        
          
        
        2079.00000000
        NS
        USD
        30810.78000000
        0.765162556420
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Meta Platforms Inc
        BQ4BKCS1HXDV9HN80Z93
        Meta Platforms, Inc.
        30303M102
        
          
        
        171.00000000
        NS
        USD
        38023.56000000
        0.944286524840
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Arrow Electronics Inc
        549300YNNLBXT8N8R512
        Arrow Electronics, Inc.
        042735100
        
          
        
        71.00000000
        NS
        USD
        8422.73000000
        0.209172166976
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Intel Corp
        KNX4USFCNGPY45LOCE31
        Intel Corp.
        458140100
        
          
        
        333.00000000
        NS
        USD
        16503.48000000
        0.409851517768
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Regeneron Pharmaceuticals Inc
        549300RCBFWIRX3HYQ56
        Regeneron Pharmaceuticals, Inc.
        75886F107
        
          
        
        45.00000000
        NS
        USD
        31428.90000000
        0.780513101891
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Markel Corp
        549300SCNO12JLWIK605
        Markel Corp.
        570535104
        
          
        
        16.00000000
        NS
        USD
        23603.84000000
        0.586183620010
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Vishay Intertechnology Inc
        5493009O8F3QQJTCQR75
        Vishay Intertechnology, Inc.
        928298108
        
          
        
        2266.00000000
        NS
        USD
        44413.60000000
        1.102978363931
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        WP Carey Inc
        54930042CRNE713E3Q67
        WP Carey, Inc.
        92936U109
        
          
        
        113.00000000
        NS
        USD
        9134.92000000
        0.226858870171
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Minerals Technologies Inc
        549300D3I1QU67GP6403
        Minerals Technologies, Inc.
        603158106
        
          
        
        284.00000000
        NS
        USD
        18786.60000000
        0.466551086420
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        IDACORP Inc
        N134NUJDWN8UEFA8B673
        IDACORP, Inc.
        451107106
        
          
        
        369.00000000
        NS
        USD
        42567.84000000
        1.057140302053
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ethan Allen Interiors Inc
        N/A
        Ethan Allen Interiors, Inc.
        297602104
        
          
        
        814.00000000
        NS
        USD
        21220.98000000
        0.527007083447
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Allison Transmission Holdings
        529900RP7DJ882LI9T83
        Allison Transmission Holdings, Inc.
        01973R101
        
          
        
        705.00000000
        NS
        USD
        27678.30000000
        0.687369770754
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Autoliv Inc
        A23RUXWKASG834LTMK28
        Autoliv, Inc.
        052800109
        
          
        
        136.00000000
        NS
        USD
        10395.84000000
        0.258172870357
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Interactive Brokers Group Inc
        5493004DT6DCDUZNDM53
        Interactive Brokers Group, Inc.
        45841N107
        
          
        
        367.00000000
        NS
        USD
        24188.97000000
        0.600714883634
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Laboratory Corp of America Hol
        OZ7UA8IXAIFILY2VZH07
        Laboratory Corporation of America Holdings
        50540R409
        
          
        
        51.00000000
        NS
        USD
        13446.66000000
        0.333937691318
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        WEC Energy Group Inc
        549300IGLYTZUK3PVP70
        WEC Energy Group, Inc.
        92939U106
        
          
        
        170.00000000
        NS
        USD
        16967.70000000
        0.421380072447
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Merck & Co Inc
        4YV9Y5M8S0BRK1RP0397
        Merck & Company, Inc.
        58933Y105
        
          
        
        219.00000000
        NS
        USD
        17968.95000000
        0.446245363414
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PS Business Parks Inc
        N/A
        PS Business Parks, Inc.
        69360J107
        
          
        
        155.00000000
        NS
        USD
        26052.40000000
        0.646991766676
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Exelixis Inc
        254900PJQB59O2O95R37
        Exelixis, Inc.
        30161Q104
        
          
        
        598.00000000
        NS
        USD
        13556.66000000
        0.336669458615
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Travelers Cos Inc/The
        549300Y650407RU8B149
        Travelers Companies, Inc.
        89417E109
        
          
        
        193.00000000
        NS
        USD
        35266.89000000
        0.875826697974
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Gentex Corp
        549300S3UD8XV1MN0287
        Gentex Corp.
        371901109
        
          
        
        1475.00000000
        NS
        USD
        43025.75000000
        1.068512152626
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ExlService Holdings Inc
        81E3DTNF6OSH489ZOV15
        ExlService Holdings, Inc.
        302081104
        
          
        
        90.00000000
        NS
        USD
        12894.30000000
        0.320220246006
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Juniper Networks Inc
        AUHIXNGG7U2U7JEHM527
        Juniper Networks, Inc.
        48203R104
        
          
        
        316.00000000
        NS
        USD
        11742.56000000
        0.291617649034
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MarineMax Inc
        254900TIXTN8WY3FNN63
        MarineMax, Inc.
        567908108
        
          
        
        208.00000000
        NS
        USD
        8374.08000000
        0.207963980803
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Omnicom Group Inc
        HKUPACFHSSASQK8HLS17
        Omnicom Group, Inc.
        681919106
        
          
        
        204.00000000
        NS
        USD
        17315.52000000
        0.430017920641
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AutoNation Inc
        N/A
        AutoNation, Inc.
        05329W102
        
          
        
        118.00000000
        NS
        USD
        11750.44000000
        0.291813342910
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PulteGroup Inc
        N/A
        PulteGroup, Inc.
        745867101
        
          
        
        287.00000000
        NS
        USD
        12025.30000000
        0.298639284358
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NETGEAR Inc
        54930067KX3UNRHDWA78
        NETGEAR, Inc.
        64111Q104
        
          
        
        321.00000000
        NS
        USD
        7922.28000000
        0.196743867486
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Enstar Group Ltd
        213800AMAL5QFXVUCN04
        Enstar Group Ltd.
        N/A
        
          
        
        155.00000000
        NS
        USD
        40478.25000000
        1.005246905447
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Gilead Sciences Inc
        549300WTZWR07K8MNV44
        Gilead Sciences, Inc.
        375558103
        
          
        
        702.00000000
        NS
        USD
        41733.90000000
        1.036430029145
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Keysight Technologies Inc
        549300GLKVIO8YRCYN02
        Keysight Technologies, Inc.
        49338L103
        
          
        
        55.00000000
        NS
        USD
        8688.35000000
        0.215768639972
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Qorvo Inc
        254900YAUJV2EUEVBR11
        Qorvo, Inc.
        74736K101
        
          
        
        65.00000000
        NS
        USD
        8066.50000000
        0.200325462755
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cummins Inc
        ZUNI8PYC725B6H8JU438
        Cummins, Inc.
        231021106
        
          
        
        142.00000000
        NS
        USD
        29125.62000000
        0.723312874796
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Exxon Mobil Corp
        J3WHBG0MTS7O8ZVMDC91
        Exxon Mobil Corp.
        30231G102
        
          
        
        178.00000000
        NS
        USD
        14701.02000000
        0.365088778836
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Owens Corning
        JO5M6676RDJIZ2U8X907
        Owens Corning
        690742101
        
          
        
        145.00000000
        NS
        USD
        13267.50000000
        0.329488387418
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Preferred Bank/Los Angeles CA
        5493007K6HGI9G0ECX16
        Preferred Bank/Los Angeles CA
        740367404
        
          
        
        450.00000000
        NS
        USD
        33340.50000000
        0.827986250667
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Essent Group Ltd
        254900QUO860OUT6ZF83
        Essent Group Ltd.
        N/A
        
          
        
        557.00000000
        NS
        USD
        22953.97000000
        0.570044587160
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dolby Laboratories Inc
        549300X04FB2QPCJ5J24
        Dolby Laboratories, Inc.
        25659T107
        
          
        
        331.00000000
        NS
        USD
        25890.82000000
        0.642979048859
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Sturm Ruger & Co Inc
        529900DV1BWFJSHFO847
        Sturm Ruger & Company, Inc.
        864159108
        
          
        
        505.00000000
        NS
        USD
        35158.10000000
        0.873124980117
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Everest Re Group Ltd
        549300N24XF2VV0B3570
        Everest Re Group Ltd.
        N/A
        
          
        
        86.00000000
        NS
        USD
        25918.68000000
        0.643670931013
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Goldman Sachs International
        W22LROWP2IHZNBB6K528
        GS Equity Custom Basket
        N/A
        
          
        
        0.00000000
        NC
        USD
        15930.37000000
        0.395618761807
        N/A
        DE
        
        US
        N
        
        2
        
          
            
              Goldman Sachs International
              W22LROWP2IHZNBB6K528
            
            
              
                GS Equity Long Custom Basket
                N/A
                
                  
                    Viavi Solutions, Inc.
                    
                      
                    
                    299.00000000
                    USD
                    4807.92000000
                    USD
                  
                  
                    CMS Energy Corp.
                    
                      
                    
                    142.00000000
                    USD
                    9931.48000000
                    USD
                  
                  
                    Halozyme Therapeutics, Inc.
                    
                      
                    
                    59.00000000
                    USD
                    2352.92000000
                    USD
                  
                  
                    National Fuel Gas Co.
                    
                      
                    
                    141.00000000
                    USD
                    9686.70000000
                    USD
                  
                  
                    Meta Financial Group, Inc.
                    
                      
                    
                    76.00000000
                    USD
                    4173.92000000
                    USD
                  
                  
                    ExlService Holdings, Inc.
                    
                      
                    
                    19.00000000
                    USD
                    2722.13000000
                    USD
                  
                  
                    Comcast Corp.
                    
                      
                    
                    179.00000000
                    USD
                    8380.78000000
                    USD
                  
                  
                    Lumentum Holdings, Inc.
                    
                      
                    
                    26.00000000
                    USD
                    2537.60000000
                    USD
                  
                  
                    Stewart Information Services Corp.
                    
                      
                    
                    118.00000000
                    USD
                    7151.98000000
                    USD
                  
                  
                    Dorian LPG Ltd.
                    
                      
                    
                    174.00000000
                    USD
                    2521.26000000
                    USD
                  
                  
                    PPL Corp.
                    
                      
                    
                    178.00000000
                    USD
                    5083.68000000
                    USD
                  
                  
                    Janus Henderson Group plc
                    
                      
                    
                    103.00000000
                    USD
                    3607.06000000
                    USD
                  
                  
                    Raymond James Financial, Inc.
                    
                      
                    
                    45.00000000
                    USD
                    4945.95000000
                    USD
                  
                  
                    Progress Software Corp.
                    
                      
                    
                    71.00000000
                    USD
                    3343.39000000
                    USD
                  
                  
                    CSG Systems International, Inc.
                    
                      
                    
                    148.00000000
                    USD
                    9408.36000000
                    USD
                  
                  
                    Cisco Systems, Inc.
                    
                      
                    
                    90.00000000
                    USD
                    5018.40000000
                    USD
                  
                  
                    PulteGroup, Inc.
                    
                      
                    
                    61.00000000
                    USD
                    2555.90000000
                    USD
                  
                  
                    Quest Diagnostics, Inc.
                    
                      
                    
                    30.00000000
                    USD
                    4105.80000000
                    USD
                  
                  
                    Essent Group Ltd.
                    
                      
                    
                    119.00000000
                    USD
                    4903.99000000
                    USD
                  
                  
                    Johnson & Johnson
                    
                      
                    
                    55.00000000
                    USD
                    9747.65000000
                    USD
                  
                  
                    Akamai Technologies, Inc.
                    
                      
                    
                    24.00000000
                    USD
                    2865.36000000
                    USD
                  
                  
                    Toll Brothers, Inc.
                    
                      
                    
                    47.00000000
                    USD
                    2209.94000000
                    USD
                  
                  
                    Merck & Company, Inc.
                    
                      
                    
                    47.00000000
                    USD
                    3856.35000000
                    USD
                  
                  
                    NewMarket Corp.
                    
                      
                    
                    7.00000000
                    USD
                    2270.66000000
                    USD
                  
                  
                    Insteel Industries, Inc.
                    
                      
                    
                    57.00000000
                    USD
                    2108.43000000
                    USD
                  
                  
                    Amphastar Pharmaceuticals, Inc.
                    
                      
                    
                    178.00000000
                    USD
                    6390.20000000
                    USD
                  
                  
                    Everest Re Group Ltd.
                    
                      
                    
                    18.00000000
                    USD
                    5424.84000000
                    USD
                  
                  
                    Knowles Corp.
                    
                      
                    
                    430.00000000
                    USD
                    9257.90000000
                    USD
                  
                  
                    Hillenbrand, Inc.
                    
                      
                    
                    118.00000000
                    USD
                    5212.06000000
                    USD
                  
                  
                    Brunswick Corp.
                    
                      
                    
                    40.00000000
                    USD
                    3235.60000000
                    USD
                  
                  
                    Qorvo, Inc.
                    
                      
                    
                    14.00000000
                    USD
                    1737.40000000
                    USD
                  
                  
                    Southern Co.
                    
                      
                    
                    65.00000000
                    USD
                    4713.15000000
                    USD
                  
                  
                    Nexstar Media Group, Inc.
                    
                      
                    
                    23.00000000
                    USD
                    4335.04000000
                    USD
                  
                  
                    Rambus, Inc.
                    
                      
                    
                    202.00000000
                    USD
                    6441.78000000
                    USD
                  
                  
                    BankUnited, Inc.
                    
                      
                    
                    126.00000000
                    USD
                    5538.96000000
                    USD
                  
                  
                    LKQ Corp.
                    
                      
                    
                    61.00000000
                    USD
                    2770.01000000
                    USD
                  
                  
                    Ethan Allen Interiors, Inc.
                    
                      
                    
                    174.00000000
                    USD
                    4536.18000000
                    USD
                  
                  
                    MarineMax, Inc.
                    
                      
                    
                    44.00000000
                    USD
                    1771.44000000
                    USD
                  
                  
                    WP Carey, Inc.
                    
                      
                    
                    24.00000000
                    USD
                    1940.16000000
                    USD
                  
                  
                    Columbia Sportswear Co.
                    
                      
                    
                    46.00000000
                    USD
                    4164.38000000
                    USD
                  
                  
                    Vishay Intertechnology, Inc.
                    
                      
                    
                    485.00000000
                    USD
                    9506.00000000
                    USD
                  
                  
                    Reliance Steel & Aluminum Co.
                    
                      
                    
                    18.00000000
                    USD
                    3300.30000000
                    USD
                  
                  
                    Tapestry, Inc.
                    
                      
                    
                    66.00000000
                    USD
                    2451.90000000
                    USD
                  
                  
                    Jack in the Box, Inc.
                    
                      
                    
                    26.00000000
                    USD
                    2428.66000000
                    USD
                  
                  
                    International Paper Co.
                    
                      
                    
                    134.00000000
                    USD
                    6184.10000000
                    USD
                  
                  
                    Vanda Pharmaceuticals, Inc.
                    
                      
                    
                    316.00000000
                    USD
                    3573.96000000
                    USD
                  
                  
                    Old Republic International Corp.
                    
                      
                    
                    298.00000000
                    USD
                    7709.26000000
                    USD
                  
                  
                    Innoviva, Inc.
                    
                      
                    
                    362.00000000
                    USD
                    7004.70000000
                    USD
                  
                  
                    United Bankshares, Inc.
                    
                      
                    
                    183.00000000
                    USD
                    6383.04000000
                    USD
                  
                  
                    Incyte Corp.
                    
                      
                    
                    71.00000000
                    USD
                    5638.82000000
                    USD
                  
                  
                    Dolby Laboratories, Inc.
                    
                      
                    
                    70.00000000
                    USD
                    5475.40000000
                    USD
                  
                  
                    NETGEAR, Inc.
                    
                      
                    
                    68.00000000
                    USD
                    1678.24000000
                    USD
                  
                  
                    Regeneron Pharmaceuticals, Inc.
                    
                      
                    
                    9.00000000
                    USD
                    6285.78000000
                    USD
                  
                  
                    Equity Commonwealth
                    
                      
                    
                    168.00000000
                    USD
                    4739.28000000
                    USD
                  
                  
                    AdvanSix, Inc.
                    
                      
                    
                    68.00000000
                    USD
                    3474.12000000
                    USD
                  
                  
                    Alphabet, Inc.
                    
                      
                    
                    1.00000000
                    USD
                    2792.99000000
                    USD
                  
                  
                    Westlake Corp.
                    
                      
                    
                    53.00000000
                    USD
                    6540.20000000
                    USD
                  
                  
                    Enstar Group Ltd.
                    
                      
                    
                    33.00000000
                    USD
                    8617.95000000
                    USD
                  
                  
                    Prestige Consumer Healthcare, Inc.
                    
                      
                    
                    82.00000000
                    USD
                    4341.08000000
                    USD
                  
                  
                    Douglas Elliman, Inc.
                    
                      
                    
                    0.50000000
                    USD
                    3.65000000
                    USD
                  
                  
                    Intel Corp.
                    
                      
                    
                    71.00000000
                    USD
                    3518.76000000
                    USD
                  
                  
                    Otter Tail Corp.
                    
                      
                    
                    82.00000000
                    USD
                    5125.00000000
                    USD
                  
                  
                    United Therapeutics Corp.
                    
                      
                    
                    17.00000000
                    USD
                    3049.97000000
                    USD
                  
                  
                    Allison Transmission Holdings, Inc.
                    
                      
                    
                    151.00000000
                    USD
                    5928.26000000
                    USD
                  
                  
                    Xperi Holding Corp.
                    
                      
                    
                    212.00000000
                    USD
                    3671.84000000
                    USD
                  
                  
                    Premier, Inc.
                    
                      
                    
                    50.00000000
                    USD
                    1779.50000000
                    USD
                  
                  
                    NVR, Inc.
                    
                      
                    
                    2.00000000
                    USD
                    8934.54000000
                    USD
                  
                  
                    Interactive Brokers Group, Inc.
                    
                      
                    
                    78.00000000
                    USD
                    5140.98000000
                    USD
                  
                  
                    LyondellBasell Industries N.V.
                    
                      
                    
                    71.00000000
                    USD
                    7300.22000000
                    USD
                  
                  
                    Owens Corning
                    
                      
                    
                    31.00000000
                    USD
                    2836.50000000
                    USD
                  
                  
                    Abbott Laboratories
                    
                      
                    
                    34.00000000
                    USD
                    4024.24000000
                    USD
                  
                  
                    OneMain Holdings, Inc.
                    
                      
                    
                    94.00000000
                    USD
                    4456.54000000
                    USD
                  
                  
                    Buckle, Inc.
                    
                      
                    
                    81.00000000
                    USD
                    2676.24000000
                    USD
                  
                  
                    Encore Wire Corp.
                    
                      
                    
                    33.00000000
                    USD
                    3764.31000000
                    USD
                  
                  
                    Packaging Corporation of America
                    
                      
                    
                    43.00000000
                    USD
                    6712.73000000
                    USD
                  
                  
                    Chesapeake Utilities Corp.
                    
                      
                    
                    60.00000000
                    USD
                    8265.60000000
                    USD
                  
                  
                    Arch Capital Group Ltd.
                    
                      
                    
                    198.00000000
                    USD
                    9587.16000000
                    USD
                  
                  
                    SS&C Technologies Holdings, Inc.
                    
                      
                    
                    24.00000000
                    USD
                    1800.48000000
                    USD
                  
                  
                    InterDigital, Inc.
                    
                      
                    
                    54.00000000
                    USD
                    3445.20000000
                    USD
                  
                  
                    Sturm Ruger & Company, Inc.
                    
                      
                    
                    108.00000000
                    USD
                    7518.96000000
                    USD
                  
                  
                    Duke Energy Corp.
                    
                      
                    
                    77.00000000
                    USD
                    8597.82000000
                    USD
                  
                  
                    Shenandoah Telecommunications Co.
                    
                      
                    
                    159.00000000
                    USD
                    3749.22000000
                    USD
                  
                  
                    AMERISAFE, Inc.
                    
                      
                    
                    131.00000000
                    USD
                    6506.77000000
                    USD
                  
                  
                    Easterly Government Properties, Inc.
                    
                      
                    
                    140.00000000
                    USD
                    2959.60000000
                    USD
                  
                  
                    Waters Corp.
                    
                      
                    
                    10.00000000
                    USD
                    3103.90000000
                    USD
                  
                  
                    Fulton Financial Corp.
                    
                      
                    
                    388.00000000
                    USD
                    6448.56000000
                    USD
                  
                  
                    Eagle Pharmaceuticals, Inc.
                    
                      
                    
                    113.00000000
                    USD
                    5592.37000000
                    USD
                  
                  
                    Snap-on, Inc.
                    
                      
                    
                    37.00000000
                    USD
                    7602.76000000
                    USD
                  
                  
                    NetApp, Inc.
                    
                      
                    
                    53.00000000
                    USD
                    4399.00000000
                    USD
                  
                  
                    Gilead Sciences, Inc.
                    
                      
                    
                    150.00000000
                    USD
                    8917.50000000
                    USD
                  
                  
                    Verizon Communications, Inc.
                    
                      
                    
                    169.00000000
                    USD
                    8608.86000000
                    USD
                  
                  
                    Kinder Morgan, Inc.
                    
                      
                    
                    269.00000000
                    USD
                    5086.79000000
                    USD
                  
                  
                    Exxon Mobil Corp.
                    
                      
                    
                    38.00000000
                    USD
                    3138.42000000
                    USD
                  
                  
                    Laboratory Corporation of America Holdings
                    
                      
                    
                    10.00000000
                    USD
                    2636.60000000
                    USD
                  
                  
                    Eagle Materials, Inc.
                    
                      
                    
                    32.00000000
                    USD
                    4107.52000000
                    USD
                  
                  
                    Acushnet Holdings Corp.
                    
                      
                    
                    102.00000000
                    USD
                    4106.52000000
                    USD
                  
                  
                    Yelp, Inc.
                    
                      
                    
                    147.00000000
                    USD
                    5014.17000000
                    USD
                  
                  
                    Gentex Corp.
                    
                      
                    
                    316.00000000
                    USD
                    9217.72000000
                    USD
                  
                  
                    Cummins, Inc.
                    
                      
                    
                    30.00000000
                    USD
                    6153.30000000
                    USD
                  
                  
                    Omnicom Group, Inc.
                    
                      
                    
                    43.00000000
                    USD
                    3649.84000000
                    USD
                  
                  
                    Radian Group, Inc.
                    
                      
                    
                    304.00000000
                    USD
                    6751.84000000
                    USD
                  
                  
                    John B Sanfilippo & Son, Inc.
                    
                      
                    
                    108.00000000
                    USD
                    9011.52000000
                    USD
                  
                  
                    Zumiez, Inc.
                    
                      
                    
                    59.00000000
                    USD
                    2254.39000000
                    USD
                  
                  
                    MGIC Investment Corp.
                    
                      
                    
                    457.00000000
                    USD
                    6192.35000000
                    USD
                  
                  
                    Mueller Industries, Inc.
                    
                      
                    
                    161.00000000
                    USD
                    8721.37000000
                    USD
                  
                  
                    OSI Systems, Inc.
                    
                      
                    
                    56.00000000
                    USD
                    4766.72000000
                    USD
                  
                  
                    Methode Electronics, Inc.
                    
                      
                    
                    69.00000000
                    USD
                    2984.25000000
                    USD
                  
                  
                    UFP Industries, Inc.
                    
                      
                    
                    28.00000000
                    USD
                    2160.48000000
                    USD
                  
                  
                    Fidelity National Financial, Inc.
                    
                      
                    
                    111.00000000
                    USD
                    5421.24000000
                    USD
                  
                  
                    Hilltop Holdings, Inc.
                    
                      
                    
                    158.00000000
                    USD
                    4645.20000000
                    USD
                  
                  
                    Western Union Co.
                    
                      
                    
                    182.00000000
                    USD
                    3410.68000000
                    USD
                  
                  
                    Genpact Ltd.
                    
                      
                    
                    43.00000000
                    USD
                    1870.93000000
                    USD
                  
                  
                    Vertex Pharmaceuticals, Inc.
                    
                      
                    
                    18.00000000
                    USD
                    4697.46000000
                    USD
                  
                  
                    Markel Corp.
                    
                      
                    
                    3.00000000
                    USD
                    4425.72000000
                    USD
                  
                  
                    MGE Energy, Inc.
                    
                      
                    
                    125.00000000
                    USD
                    9973.75000000
                    USD
                  
                  
                    AutoZone, Inc.
                    
                      
                    
                    5.00000000
                    USD
                    10222.90000000
                    USD
                  
                  
                    Ziff Davis, Inc.
                    
                      
                    
                    25.00000000
                    USD
                    2419.50000000
                    USD
                  
                  
                    Garmin Ltd.
                    
                      
                    
                    75.00000000
                    USD
                    8895.75000000
                    USD
                  
                  
                    First American Financial Corp.
                    
                      
                    
                    54.00000000
                    USD
                    3500.28000000
                    USD
                  
                  
                    Molson Coors Beverage Co.
                    
                      
                    
                    132.00000000
                    USD
                    7046.16000000
                    USD
                  
                  
                    National Bank Holdings Corp.
                    
                      
                    
                    215.00000000
                    USD
                    8660.20000000
                    USD
                  
                  
                    Keysight Technologies, Inc.
                    
                      
                    
                    11.00000000
                    USD
                    1737.67000000
                    USD
                  
                  
                    AutoNation, Inc.
                    
                      
                    
                    25.00000000
                    USD
                    2489.50000000
                    USD
                  
                  
                    Citigroup, Inc.
                    
                      
                    
                    53.00000000
                    USD
                    2830.20000000
                    USD
                  
                  
                    F5, Inc.
                    
                      
                    
                    9.00000000
                    USD
                    1880.55000000
                    USD
                  
                  
                    Mercury General Corp.
                    
                      
                    
                    171.00000000
                    USD
                    9405.00000000
                    USD
                  
                  
                    Pfizer, Inc.
                    
                      
                    
                    56.00000000
                    USD
                    2899.12000000
                    USD
                  
                  
                    Bio-Rad Laboratories, Inc.
                    
                      
                    
                    9.00000000
                    USD
                    5069.07000000
                    USD
                  
                  
                    Meta Platforms, Inc.
                    
                      
                    
                    42.00000000
                    USD
                    9339.12000000
                    USD
                  
                  
                    PotlatchDeltic Corp.
                    
                      
                    
                    57.00000000
                    USD
                    3005.61000000
                    USD
                  
                  
                    NetScout Systems, Inc.
                    
                      
                    
                    60.00000000
                    USD
                    1924.80000000
                    USD
                  
                  
                    Crane Co.
                    
                      
                    
                    43.00000000
                    USD
                    4656.04000000
                    USD
                  
                  
                    Minerals Technologies, Inc.
                    
                      
                    
                    60.00000000
                    USD
                    3969.00000000
                    USD
                  
                  
                    Royalty Pharma plc
                    
                      
                    
                    90.00000000
                    USD
                    3506.40000000
                    USD
                  
                  
                    AbbVie, Inc.
                    
                      
                    
                    49.00000000
                    USD
                    7943.39000000
                    USD
                  
                  
                    Piper Sandler Cos.
                    
                      
                    
                    38.00000000
                    USD
                    4987.50000000
                    USD
                  
                  
                    Evercore, Inc.
                    
                      
                    
                    51.00000000
                    USD
                    5677.32000000
                    USD
                  
                  
                    HomeStreet, Inc.
                    
                      
                    
                    110.00000000
                    USD
                    5211.80000000
                    USD
                  
                  
                    CommVault Systems, Inc.
                    
                      
                    
                    28.00000000
                    USD
                    1857.80000000
                    USD
                  
                  
                    Tri Pointe Homes, Inc.
                    
                      
                    
                    173.00000000
                    USD
                    3473.84000000
                    USD
                  
                  
                    Preferred Bank/Los Angeles CA
                    
                      
                    
                    96.00000000
                    USD
                    7112.64000000
                    USD
                  
                  
                    Albany International Corp.
                    
                      
                    
                    32.00000000
                    USD
                    2698.24000000
                    USD
                  
                  
                    Hologic, Inc.
                    
                      
                    
                    102.00000000
                    USD
                    7835.64000000
                    USD
                  
                  
                    Vontier Corp.
                    
                      
                    
                    108.00000000
                    USD
                    2742.12000000
                    USD
                  
                  
                    Arrow Electronics, Inc.
                    
                      
                    
                    15.00000000
                    USD
                    1779.45000000
                    USD
                  
                  
                    Exelixis, Inc.
                    
                      
                    
                    128.00000000
                    USD
                    2901.76000000
                    USD
                  
                  
                    TTM Technologies, Inc.
                    
                      
                    
                    445.00000000
                    USD
                    6594.90000000
                    USD
                  
                  
                    Interpublic Group of Companies, Inc.
                    
                      
                    
                    120.00000000
                    USD
                    4254.00000000
                    USD
                  
                  
                    Safety Insurance Group, Inc.
                    
                      
                    
                    110.00000000
                    USD
                    9993.50000000
                    USD
                  
                  
                    USANA Health Sciences, Inc.
                    
                      
                    
                    61.00000000
                    USD
                    4846.45000000
                    USD
                  
                  
                    Perdoceo Education Corp.
                    
                      
                    
                    606.00000000
                    USD
                    6956.88000000
                    USD
                  
                  
                    Louisiana-Pacific Corp.
                    
                      
                    
                    46.00000000
                    USD
                    2857.52000000
                    USD
                  
                  
                    Amgen, Inc.
                    
                      
                    
                    33.00000000
                    USD
                    7980.06000000
                    USD
                  
                  
                    California Water Service Group
                    
                      
                    
                    43.00000000
                    USD
                    2549.04000000
                    USD
                  
                  
                    Portland General Electric Co.
                    
                      
                    
                    150.00000000
                    USD
                    8272.50000000
                    USD
                  
                  
                    WEC Energy Group, Inc.
                    
                      
                    
                    36.00000000
                    USD
                    3593.16000000
                    USD
                  
                  
                    Bristol-Myers Squibb Co.
                    
                      
                    
                    134.00000000
                    USD
                    9786.02000000
                    USD
                  
                  
                    PS Business Parks, Inc.
                    
                      
                    
                    33.00000000
                    USD
                    5546.64000000
                    USD
                  
                  
                    Juniper Networks, Inc.
                    
                      
                    
                    67.00000000
                    USD
                    2489.72000000
                    USD
                  
                  
                    EVERTEC, Inc.
                    
                      
                    
                    102.00000000
                    USD
                    4174.86000000
                    USD
                  
                  
                    Travelers Companies, Inc.
                    
                      
                    
                    41.00000000
                    USD
                    7491.93000000
                    USD
                  
                  
                    Autoliv, Inc.
                    
                      
                    
                    29.00000000
                    USD
                    2216.76000000
                    USD
                  
                  
                    Skyworks Solutions, Inc.
                    
                      
                    
                    13.00000000
                    USD
                    1732.64000000
                    USD
                  
                  
                    Dropbox, Inc.
                    
                      
                    
                    83.00000000
                    USD
                    1929.75000000
                    USD
                  
                  
                    Whirlpool Corp.
                    
                      
                    
                    44.00000000
                    USD
                    7602.32000000
                    USD
                  
                  
                    Corteva, Inc.
                    
                      
                    
                    38.00000000
                    USD
                    2184.24000000
                    USD
                  
                  
                    IDACORP, Inc.
                    
                      
                    
                    73.00000000
                    USD
                    8421.28000000
                    USD
                  
                  
                    3M Co.
                    
                      
                    
                    62.00000000
                    USD
                    9230.56000000
                    USD
                  
                  
                    Shoe Carnival, Inc.
                    
                      
                    
                    64.00000000
                    USD
                    1866.24000000
                    USD
                  
                  
                    Haverty Furniture Companies, Inc.
                    
                      
                    
                    63.00000000
                    USD
                    1727.46000000
                    USD
                  
                  
                    Sanmina Corp.
                    
                      
                    
                    186.00000000
                    USD
                    7518.12000000
                    USD
                  
                  
                    Dow, Inc.
                    
                      
                    
                    117.00000000
                    USD
                    7455.24000000
                    USD
                  
                
              
            
            Y
            GS Equity Custom Basket - Tenor At Maturity
            
              
                
              
            
            2024-05-06
            0.00000000
            USD
            0.00000000
            USD
            859268.47000000
            USD
            15930.37000000
          
        
        
          N
          N
          N
        
      
      
        Prestige Consumer Healthcare I
        N/A
        Prestige Consumer Healthcare, Inc.
        74112D101
        
          
        
        385.00000000
        NS
        USD
        20381.90000000
        0.506169162504
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PPL Corp
        9N3UAJSNOUXFKQLF3V18
        PPL Corp.
        69351T106
        
          
        
        833.00000000
        NS
        USD
        23790.48000000
        0.590818684086
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CMS Energy Corp
        549300IA9XFBAGNIBW29
        CMS Energy Corp.
        125896100
        
          
        
        664.00000000
        NS
        USD
        46440.16000000
        1.153306457875
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        LyondellBasell Industries NV
        BN6WCCZ8OVP3ITUUVN49
        LyondellBasell Industries N.V.
        N/A
        
          
        
        332.00000000
        NS
        USD
        34136.24000000
        0.847747855295
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MGIC Investment Corp
        254900S8483WM4M98R28
        MGIC Investment Corp.
        552848103
        
          
        
        2133.00000000
        NS
        USD
        28902.15000000
        0.717763165361
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Viavi Solutions Inc
        5493006K3E3N1QOBF092
        Viavi Solutions, Inc.
        925550105
        
          
        
        1399.00000000
        NS
        USD
        22495.92000000
        0.558669259792
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Bio-Rad Laboratories Inc
        549300ZC1GPV35XYDK53
        Bio-Rad Laboratories, Inc.
        090572207
        
          
        
        44.00000000
        NS
        USD
        24782.12000000
        0.615445317928
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Molson Coors Beverage Co
        54930073LBBH6ZCBE225
        Molson Coors Beverage Co.
        60871R209
        
          
        
        340.00000000
        NS
        USD
        18149.20000000
        0.450721736645
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PotlatchDeltic Corp
        54930084YA8UJOTXDM59
        PotlatchDeltic Corp.
        737630103
        
          
        
        268.00000000
        NS
        USD
        14131.64000000
        0.350948654620
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Waters Corp
        5T547R1474YC9HOD8Q74
        Waters Corp.
        941848103
        
          
        
        50.00000000
        NS
        USD
        15519.50000000
        0.385415114267
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        F5 Inc
        54930015FPK9KT966303
        F5, Inc.
        315616102
        
          
        
        43.00000000
        NS
        USD
        8984.85000000
        0.223131994550
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Akamai Technologies Inc
        OC1LZNN2LF5WTJ5RIL89
        Akamai Technologies, Inc.
        00971T101
        
          
        
        112.00000000
        NS
        USD
        13371.68000000
        0.332075619391
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Acushnet Holdings Corp
        529900W5FI106H543E43
        Acushnet Holdings Corp.
        005098108
        
          
        
        480.00000000
        NS
        USD
        19324.80000000
        0.479916878778
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Whirlpool Corp
        WHENKOULSSK7WUM60H03
        Whirlpool Corp.
        963320106
        
          
        
        207.00000000
        NS
        USD
        35765.46000000
        0.888208309077
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Crane Co
        549300X1RO9ID7AUCA83
        Crane Co.
        224399105
        
          
        
        202.00000000
        NS
        USD
        21872.56000000
        0.543188582861
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Premier Inc
        N/A
        Premier, Inc.
        74051N102
        
          
        
        236.00000000
        NS
        USD
        8399.24000000
        0.208588810487
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        3M Co
        LUZQVYP4VS22CLWDAR65
        3M Co.
        88579Y101
        
          
        
        292.00000000
        NS
        USD
        43472.96000000
        1.079618276745
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Vertex Pharmaceuticals Inc
        54930015RAQRRZ5ZGJ91
        Vertex Pharmaceuticals, Inc.
        92532F100
        
          
        
        88.00000000
        NS
        USD
        22965.36000000
        0.570327449247
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cisco Systems Inc
        549300LKFJ962MZ46593
        Cisco Systems, Inc.
        17275R102
        
          
        
        420.00000000
        NS
        USD
        23419.20000000
        0.581598224430
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fidelity National Financial In
        549300CAZYIH39SYQ287
        Fidelity National Financial, Inc.
        31620R303
        
          
        
        522.00000000
        NS
        USD
        25494.48000000
        0.633136242945
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        United Bankshares Inc/WV
        5299005O3BAMJ9Z92V62
        United Bankshares, Inc.
        909907107
        
          
        
        855.00000000
        NS
        USD
        29822.40000000
        0.740616882227
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Kinder Morgan Inc
        549300WR7IX8XE0TBO16
        Kinder Morgan, Inc.
        49456B101
        
          
        
        1259.00000000
        NS
        USD
        23807.69000000
        0.591246081497
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Goldman Sachs International
        W22LROWP2IHZNBB6K528
        GS Equity Custom Basket
        N/A
        
          
        
        0.00000000
        NC
        USD
        -59445.58000000
        -1.47628628553
        N/A
        DE
        
        US
        N
        
        2
        
          
            
              Goldman Sachs International
              W22LROWP2IHZNBB6K528
            
            
              
                GS Equity Short Custom Basket
                N/A
                
                  
                    Ryman Hospitality Properties, Inc.
                    
                      
                    
                    -200.00000000
                    USD
                    -18554.00000000
                    USD
                  
                  
                    UDR, Inc.
                    
                      
                    
                    -170.00000000
                    USD
                    -9752.90000000
                    USD
                  
                  
                    Crown Castle International Corp.
                    
                      
                    
                    -106.00000000
                    USD
                    -19567.60000000
                    USD
                  
                  
                    J.B. Hunt Transport Services, Inc.
                    
                      
                    
                    -54.00000000
                    USD
                    -10842.66000000
                    USD
                  
                  
                    Boeing Co.
                    
                      
                    
                    -125.00000000
                    USD
                    -23937.50000000
                    USD
                  
                  
                    Cloudflare, Inc.
                    
                      
                    
                    -55.00000000
                    USD
                    -6583.50000000
                    USD
                  
                  
                    First Republic Bank
                    
                      
                    
                    -57.00000000
                    USD
                    -9239.70000000
                    USD
                  
                  
                    Airbnb, Inc.
                    
                      
                    
                    -21.00000000
                    USD
                    -3606.96000000
                    USD
                  
                  
                    KBR, Inc.
                    
                      
                    
                    -469.00000000
                    USD
                    -25668.37000000
                    USD
                  
                  
                    Okta, Inc.
                    
                      
                    
                    -19.00000000
                    USD
                    -2868.24000000
                    USD
                  
                  
                    State Street Corp.
                    
                      
                    
                    -289.00000000
                    USD
                    -25177.68000000
                    USD
                  
                  
                    Natera, Inc.
                    
                      
                    
                    -52.00000000
                    USD
                    -2115.36000000
                    USD
                  
                  
                    Western Alliance Bancorporation
                    
                      
                    
                    -197.00000000
                    USD
                    -16315.54000000
                    USD
                  
                  
                    TransDigm Group, Inc.
                    
                      
                    
                    -16.00000000
                    USD
                    -10424.64000000
                    USD
                  
                  
                    Quanta Services, Inc.
                    
                      
                    
                    -82.00000000
                    USD
                    -10792.02000000
                    USD
                  
                  
                    MGM Resorts International
                    
                      
                    
                    -184.00000000
                    USD
                    -7716.96000000
                    USD
                  
                  
                    Equifax, Inc.
                    
                      
                    
                    -76.00000000
                    USD
                    -18019.60000000
                    USD
                  
                  
                    Black Hills Corp.
                    
                      
                    
                    -433.00000000
                    USD
                    -33349.66000000
                    USD
                  
                  
                    Bank of America Corp.
                    
                      
                    
                    -193.00000000
                    USD
                    -7955.46000000
                    USD
                  
                  
                    Bill.com Holdings, Inc.
                    
                      
                    
                    -29.00000000
                    USD
                    -6576.91000000
                    USD
                  
                  
                    CenterPoint Energy, Inc.
                    
                      
                    
                    -1095.00000000
                    USD
                    -33550.80000000
                    USD
                  
                  
                    Tetra Tech, Inc.
                    
                      
                    
                    -113.00000000
                    USD
                    -18638.22000000
                    USD
                  
                  
                    CBRE Group, Inc.
                    
                      
                    
                    -115.00000000
                    USD
                    -10524.80000000
                    USD
                  
                  
                    SBA Communications Corp.
                    
                      
                    
                    -46.00000000
                    USD
                    -15828.60000000
                    USD
                  
                  
                    Host Hotels & Resorts, Inc.
                    
                      
                    
                    -1511.00000000
                    USD
                    -29358.73000000
                    USD
                  
                  
                    United Airlines Holdings, Inc.
                    
                      
                    
                    -386.00000000
                    USD
                    -17894.96000000
                    USD
                  
                  
                    Atlassian Corporation plc
                    
                      
                    
                    -15.00000000
                    USD
                    -4407.45000000
                    USD
                  
                  
                    General Electric Co.
                    
                      
                    
                    -117.12500000
                    USD
                    -10716.94000000
                    USD
                  
                  
                    Sysco Corp.
                    
                      
                    
                    -186.00000000
                    USD
                    -15186.90000000
                    USD
                  
                  
                    Southwest Airlines Co.
                    
                      
                    
                    -249.00000000
                    USD
                    -11404.20000000
                    USD
                  
                  
                    Apartment Income REIT Corp.
                    
                      
                    
                    -589.00000000
                    USD
                    -31487.94000000
                    USD
                  
                  
                    Apple Hospitality REIT, Inc.
                    
                      
                    
                    -349.00000000
                    USD
                    -6271.53000000
                    USD
                  
                  
                    Northern Trust Corp.
                    
                      
                    
                    -163.00000000
                    USD
                    -18981.35000000
                    USD
                  
                  
                    Crowdstrike Holdings, Inc.
                    
                      
                    
                    -32.00000000
                    USD
                    -7266.56000000
                    USD
                  
                  
                    Delta Air Lines, Inc.
                    
                      
                    
                    -455.00000000
                    USD
                    -18004.35000000
                    USD
                  
                  
                    Waste Management, Inc.
                    
                      
                    
                    -89.00000000
                    USD
                    -14106.50000000
                    USD
                  
                  
                    Americold Realty Trust
                    
                      
                    
                    -381.00000000
                    USD
                    -10622.28000000
                    USD
                  
                  
                    Trade Desk, Inc.
                    
                      
                    
                    -62.00000000
                    USD
                    -4293.50000000
                    USD
                  
                  
                    Bank of New York Mellon Corp.
                    
                      
                    
                    -122.00000000
                    USD
                    -6054.86000000
                    USD
                  
                  
                    NOV, Inc.
                    
                      
                    
                    -683.00000000
                    USD
                    -13393.63000000
                    USD
                  
                  
                    Lululemon Athletica, Inc.
                    
                      
                    
                    -20.00000000
                    USD
                    -7304.60000000
                    USD
                  
                  
                    CH Robinson Worldwide, Inc.
                    
                      
                    
                    -115.00000000
                    USD
                    -12386.65000000
                    USD
                  
                  
                    American Airlines Group, Inc.
                    
                      
                    
                    -1268.00000000
                    USD
                    -23141.00000000
                    USD
                  
                  
                    Kennedy-Wilson Holdings, Inc.
                    
                      
                    
                    -1307.00000000
                    USD
                    -31877.73000000
                    USD
                  
                  
                    Lyft, Inc.
                    
                      
                    
                    -387.00000000
                    USD
                    -14860.80000000
                    USD
                  
                  
                    Ceridian HCM Holding, Inc.
                    
                      
                    
                    -157.00000000
                    USD
                    -10732.52000000
                    USD
                  
                  
                    Guardant Health, Inc.
                    
                      
                    
                    -157.00000000
                    USD
                    -10399.68000000
                    USD
                  
                  
                    Park Hotels & Resorts, Inc.
                    
                      
                    
                    -1206.00000000
                    USD
                    -23553.18000000
                    USD
                  
                  
                    RLJ Lodging Trust
                    
                      
                    
                    -1819.00000000
                    USD
                    -25611.52000000
                    USD
                  
                  
                    ONE Gas, Inc.
                    
                      
                    
                    -361.00000000
                    USD
                    -31854.64000000
                    USD
                  
                  
                    Equinix, Inc.
                    
                      
                    
                    -30.00000000
                    USD
                    -22248.60000000
                    USD
                  
                  
                    MongoDB, Inc.
                    
                      
                    
                    -18.00000000
                    USD
                    -7984.62000000
                    USD
                  
                  
                    Cintas Corp.
                    
                      
                    
                    -80.00000000
                    USD
                    -34031.20000000
                    USD
                  
                  
                    Patterson-UTI Energy, Inc.
                    
                      
                    
                    -1403.00000000
                    USD
                    -21718.44000000
                    USD
                  
                  
                    UnitedHealth Group, Inc.
                    
                      
                    
                    -17.00000000
                    USD
                    -8669.49000000
                    USD
                  
                  
                    Howard Hughes Corp.
                    
                      
                    
                    -258.00000000
                    USD
                    -26731.38000000
                    USD
                  
                  
                    Booz Allen Hamilton Holding Corp.
                    
                      
                    
                    -127.00000000
                    USD
                    -11155.68000000
                    USD
                  
                  
                    Palo Alto Networks, Inc.
                    
                      
                    
                    -6.00000000
                    USD
                    -3735.06000000
                    USD
                  
                  
                    Halliburton Co.
                    
                      
                    
                    -929.00000000
                    USD
                    -35181.23000000
                    USD
                  
                  
                    Leidos Holdings, Inc.
                    
                      
                    
                    -80.00000000
                    USD
                    -8641.60000000
                    USD
                  
                  
                    Sun Communities, Inc.
                    
                      
                    
                    -129.00000000
                    USD
                    -22612.41000000
                    USD
                  
                  
                    TransUnion
                    
                      
                    
                    -134.00000000
                    USD
                    -13847.56000000
                    USD
                  
                  
                    IAA, Inc.
                    
                      
                    
                    -193.00000000
                    USD
                    -7382.25000000
                    USD
                  
                  
                    JetBlue Airways Corp.
                    
                      
                    
                    -451.00000000
                    USD
                    -6742.45000000
                    USD
                  
                  
                    Rollins, Inc.
                    
                      
                    
                    -471.00000000
                    USD
                    -16508.55000000
                    USD
                  
                  
                    Hilton Worldwide Holdings, Inc.
                    
                      
                    
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                    USD
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                    USD
                  
                  
                    Viad Corp.
                    
                      
                    
                    -393.00000000
                    USD
                    -14006.52000000
                    USD
                  
                  
                    Xenia Hotels & Resorts, Inc.
                    
                      
                    
                    -586.00000000
                    USD
                    -11303.94000000
                    USD
                  
                  
                    Zscaler, Inc.
                    
                      
                    
                    -29.00000000
                    USD
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                    USD
                  
                  
                    Edison International
                    
                      
                    
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                    USD
                    -33297.50000000
                    USD
                  
                  
                    Copart, Inc.
                    
                      
                    
                    -208.00000000
                    USD
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                    USD
                  
                  
                    Signature Bank
                    
                      
                    
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                    USD
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                    USD
                  
                  
                    Regions Financial Corp.
                    
                      
                    
                    -360.00000000
                    USD
                    -8013.60000000
                    USD
                  
                  
                    Pebblebrook Hotel Trust
                    
                      
                    
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                    USD
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                    USD
                  
                  
                    Safehold, Inc.
                    
                      
                    
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                    USD
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                    USD
                  
                  
                    Welltower, Inc.
                    
                      
                    
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                    USD
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                    USD
                  
                  
                    Atmos Energy Corp.
                    
                      
                    
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                    USD
                    -32620.77000000
                    USD
                  
                  
                    Driven Brands Holdings, Inc.
                    
                      
                    
                    -798.00000000
                    USD
                    -20971.44000000
                    USD
                  
                  
                    Zions Bancorp North America
                    
                      
                    
                    -294.00000000
                    USD
                    -19274.64000000
                    USD
                  
                  
                    Outfront Media, Inc.
                    
                      
                    
                    -825.00000000
                    USD
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                    USD
                  
                  
                    SVB Financial Group
                    
                      
                    
                    -21.00000000
                    USD
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                    USD
                  
                  
                    Lincoln National Corp.
                    
                      
                    
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                    USD
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                    USD
                  
                  
                    Range Resources Corp.
                    
                      
                    
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                    USD
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                    USD
                  
                  
                    Cooper Companies, Inc.
                    
                      
                    
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                    USD
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                    USD
                  
                  
                    CoStar Group, Inc.
                    
                      
                    
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                    USD
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                    USD
                  
                  
                    Equitable Holdings, Inc.
                    
                      
                    
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                    USD
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                    USD
                  
                  
                    Ventas, Inc.
                    
                      
                    
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                    USD
                    -18280.96000000
                    USD
                  
                  
                    Jacobs Engineering Group, Inc.
                    
                      
                    
                    -210.00000000
                    USD
                    -28940.10000000
                    USD
                  
                  
                    Howmet Aerospace, Inc.
                    
                      
                    
                    -449.00000000
                    USD
                    -16137.06000000
                    USD
                  
                  
                    Intellia Therapeutics, Inc.
                    
                      
                    
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                    USD
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                    USD
                  
                  
                    Invitation Homes, Inc.
                    
                      
                    
                    -561.00000000
                    USD
                    -22540.98000000
                    USD
                  
                  
                    Dun & Bradstreet Holdings, Inc.
                    
                      
                    
                    -572.00000000
                    USD
                    -10021.44000000
                    USD
                  
                  
                    Sunstone Hotel Investors, Inc.
                    
                      
                    
                    -1396.00000000
                    USD
                    -16444.88000000
                    USD
                  
                  
                    Freshpet, Inc.
                    
                      
                    
                    -64.00000000
                    USD
                    -6568.96000000
                    USD
                  
                  
                    Wells Fargo & Co.
                    
                      
                    
                    -273.00000000
                    USD
                    -13229.58000000
                    USD
                  
                  
                    Comerica, Inc.
                    
                      
                    
                    -257.00000000
                    USD
                    -23240.51000000
                    USD
                  
                  
                    Carnival Corp.
                    
                      
                    
                    -280.00000000
                    USD
                    -5661.60000000
                    USD
                  
                  
                    MSA Safety, Inc.
                    
                      
                    
                    -75.00000000
                    USD
                    -9952.50000000
                    USD
                  
                  
                    Casella Waste Systems, Inc.
                    
                      
                    
                    -295.00000000
                    USD
                    -25856.75000000
                    USD
                  
                  
                    Entergy Corp.
                    
                      
                    
                    -171.00000000
                    USD
                    -19964.25000000
                    USD
                  
                  
                    Stericycle, Inc.
                    
                      
                    
                    -370.00000000
                    USD
                    -21800.40000000
                    USD
                  
                  
                    Verisk Analytics, Inc.
                    
                      
                    
                    -98.00000000
                    USD
                    -21033.74000000
                    USD
                  
                  
                    Iron Mountain, Inc.
                    
                      
                    
                    -419.00000000
                    USD
                    -23216.79000000
                    USD
                  
                  
                    KKR & Company, Inc.
                    
                      
                    
                    -207.00000000
                    USD
                    -12103.29000000
                    USD
                  
                  
                    Digital Realty Trust, Inc.
                    
                      
                    
                    -57.00000000
                    USD
                    -8082.60000000
                    USD
                  
                  
                    DoorDash, Inc.
                    
                      
                    
                    -58.00000000
                    USD
                    -6797.02000000
                    USD
                  
                  
                    MillerKnoll, Inc.
                    
                      
                    
                    -760.00000000
                    USD
                    -26265.60000000
                    USD
                  
                  
                    Bunge Ltd.
                    
                      
                    
                    -136.00000000
                    USD
                    -15070.16000000
                    USD
                  
                  
                    Royal Caribbean Cruises Ltd.
                    
                      
                    
                    -76.00000000
                    USD
                    -6367.28000000
                    USD
                  
                  
                    ASGN, Inc.
                    
                      
                    
                    -121.00000000
                    USD
                    -14121.91000000
                    USD
                  
                  
                    Datadog, Inc.
                    
                      
                    
                    -43.00000000
                    USD
                    -6513.21000000
                    USD
                  
                  
                    Republic Services, Inc.
                    
                      
                    
                    -92.00000000
                    USD
                    -12190.00000000
                    USD
                  
                
              
            
            Y
            
              
                
              
            
            GS Equity Custom Basket - Tenor At Maturity
            2024-05-06
            0.00000000
            USD
            0.00000000
            USD
            -1745654.93000000
            USD
            -59445.58000000
          
        
        
          N
          N
          N
        
      
      
        Bristol-Myers Squibb Co
        HLYYNH7UQUORYSJQCN42
        Bristol-Myers Squibb Co.
        110122108
        
          
        
        627.00000000
        NS
        USD
        45789.81000000
        1.137155504586
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Brunswick Corp/DE
        YM4O38W15AX4YLLQKU27
        Brunswick Corp.
        117043109
        
          
        
        190.00000000
        NS
        USD
        15369.10000000
        0.381680043344
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Evercore Inc
        529900P6KLPT95DW3W58
        Evercore, Inc.
        29977A105
        
          
        
        240.00000000
        NS
        USD
        26716.80000000
        0.663491641152
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Raymond James Financial Inc
        RGUZHJ05YTITL6D76949
        Raymond James Financial, Inc.
        754730109
        
          
        
        211.50000000
        NS
        USD
        23245.97000000
        0.577296187622
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        United Therapeutics Corp
        5299005C4HZL4UWROC14
        United Therapeutics Corp.
        91307C102
        
          
        
        82.00000000
        NS
        USD
        14711.62000000
        0.365352021866
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        National Fuel Gas Co
        8JB38FFW1Y3C1HM8E841
        National Fuel Gas Co.
        636180101
        
          
        
        662.00000000
        NS
        USD
        45479.40000000
        1.129446705616
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Halozyme Therapeutics Inc
        529900242I3SV9AGM753
        Halozyme Therapeutics, Inc.
        40637H109
        
          
        
        276.00000000
        NS
        USD
        11006.88000000
        0.273347589350
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Haverty Furniture Cos Inc
        529900CVFMMIRXZVPD70
        Haverty Furniture Companies, Inc.
        419596101
        
          
        
        298.00000000
        NS
        USD
        8171.16000000
        0.202924615167
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Incyte Corp
        549300Z4WN6JVZ3T4680
        Incyte Corp.
        45337C102
        
          
        
        332.00000000
        NS
        USD
        26367.44000000
        0.654815548216
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Xperi Holding Corp
        N/A
        Xperi Holding Corp.
        98390M103
        
          
        
        992.00000000
        NS
        USD
        17181.44000000
        0.426688144648
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        John B Sanfilippo & Son Inc
        5299007IBEYVXKYDUX28
        John B Sanfilippo & Son, Inc.
        800422107
        
          
        
        508.00000000
        NS
        USD
        42387.52000000
        1.052662190425
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MGE Energy Inc
        N/A
        MGE Energy, Inc.
        55277P104
        
          
        
        587.00000000
        NS
        USD
        46836.73000000
        1.163154975667
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Innoviva Inc
        549300ACOX4QTBES6535
        Innoviva, Inc.
        45781M101
        
          
        
        1690.00000000
        NS
        USD
        32701.50000000
        0.812117166095
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        American States Water Co
        529900L26LIS2V8PWM23
        American States Water Co.
        029899101
        
          
        
        204.00000000
        NS
        USD
        18160.08000000
        0.450991933265
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Duke Energy Corp
        I1BZKREC126H0VB1BL91
        Duke Energy Corp.
        26441C204
        
          
        
        385.00000000
        NS
        USD
        42989.10000000
        1.067601977431
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Toll Brothers Inc
        529900JB6IS9MSZGVR44
        Toll Brothers, Inc.
        889478103
        
          
        
        222.00000000
        NS
        USD
        10438.44000000
        0.259230809328
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Alphabet Inc
        5493006MHB84DD0ZWV18
        Alphabet, Inc.
        02079K107
        
          
        
        7.00000000
        NS
        USD
        19550.93000000
        0.485532647313
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Southern Co/The
        549300FC3G3YU2FBZD92
        Southern Co.
        842587107
        
          
        
        307.00000000
        NS
        USD
        22260.57000000
        0.552824519488
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Vanda Pharmaceuticals Inc
        529900AY8VOOQBKJ0O70
        Vanda Pharmaceuticals, Inc.
        921659108
        
          
        
        1478.00000000
        NS
        USD
        16716.18000000
        0.415133762351
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BankUnited Inc
        96OVUWEW5D4YX6PFXD91
        BankUnited, Inc.
        06652K103
        
          
        
        591.00000000
        NS
        USD
        25980.36000000
        0.645202707439
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NetApp Inc
        QTX3D84DZDD5JYOCYH15
        NetApp, Inc.
        64110D104
        
          
        
        251.00000000
        NS
        USD
        20833.00000000
        0.517371891847
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dow Inc
        5493003S21INSLK2IP73
        Dow, Inc.
        260557103
        
          
        
        547.00000000
        NS
        USD
        34854.84000000
        0.865593746021
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Albany International Corp
        L73WCPNCZIRSQGZTW097
        Albany International Corp.
        012348108
        
          
        
        151.00000000
        NS
        USD
        12732.32000000
        0.316197594490
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CSG Systems International Inc
        549300D7FJZUOHHXUA81
        CSG Systems International, Inc.
        126349109
        
          
        
        693.00000000
        NS
        USD
        44054.01000000
        1.094048216636
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Johnson & Johnson
        549300G0CFPGEF6X2043
        Johnson & Johnson
        478160104
        
          
        
        257.00000000
        NS
        USD
        45548.11000000
        1.131153066807
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NVR Inc
        529900RWXR4JI3JYTV70
        NVR, Inc.
        62944T105
        
          
        
        7.00000000
        NS
        USD
        31270.89000000
        0.776589042339
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Quest Diagnostics Inc
        8MCWUBXQ0WE04KMXBX50
        Quest Diagnostics, Inc.
        74834L100
        
          
        
        144.00000000
        NS
        USD
        19707.84000000
        0.489429389191
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AdvanSix Inc
        5493009TPRODMCAZLF67
        AdvanSix, Inc.
        00773T101
        
          
        
        320.00000000
        NS
        USD
        16348.80000000
        0.406010156263
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Mercury General Corp
        5493001Q9EXPCEL4W527
        Mercury General Corp.
        589400100
        
          
        
        800.00000000
        NS
        USD
        44000.00000000
        1.092706918893
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Verizon Communications Inc
        2S72QS2UO2OESLG6Y829
        Verizon Communications, Inc.
        92343V104
        
          
        
        793.00000000
        NS
        USD
        40395.42000000
        1.003189884672
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        OneMain Holdings Inc
        549300E3VEW8SMS5XW09
        OneMain Holdings, Inc.
        68268W103
        
          
        
        443.00000000
        NS
        USD
        21002.63000000
        0.521584525362
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Goldman Sachs Financial Square
        549300DAH6N80PM31E83
        Goldman Sachs Financial Square Treasury Instruments Fund - Institutional Shares
        N/A
        
          
        
        72577.03000000
        NS
        USD
        72577.03000000
        1.802395973494
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        National Bank Holdings Corp
        N/A
        National Bank Holdings Corp.
        633707104
        
          
        
        1006.00000000
        NS
        USD
        40521.68000000
        1.006325456845
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Portland General Electric Co
        GJOUP9M7C39GLSK9R870
        Portland General Electric Co.
        736508847
        
          
        
        751.00000000
        NS
        USD
        41417.65000000
        1.028576198166
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Zumiez Inc
        549300J0PDF58P6HZD25
        Zumiez, Inc.
        989817101
        
          
        
        277.00000000
        NS
        USD
        10584.17000000
        0.262849904312
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        EVERTEC Inc
        N/A
        EVERTEC, Inc.
        30040P103
        
          
        
        479.00000000
        NS
        USD
        19605.47000000
        0.486887107208
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Tri Pointe Homes Inc
        N/A
        Tri Pointe Homes, Inc.
        87265H109
        
          
        
        811.00000000
        NS
        USD
        16284.88000000
        0.404422751121
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Knowles Corp
        5493003EO323TDZQU148
        Knowles Corp.
        49926D109
        
          
        
        2007.00000000
        NS
        USD
        43210.71000000
        1.073105495165
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
    
    
      2022-05-02
      Guggenheim Variable Funds Trust
      John Sullivan
      John Sullivan
      CFO
    
  
  XXXX



Series A (StylePlus—Large Core Series)  
SCHEDULE OF INVESTMENTS (Unaudited)                                                                              March 31, 2022
   

 

   Shares   Value 
COMMON STOCKS - 17.8%
Technology - 4.9%
Apple, Inc.   19,946   $3,482,771 
Microsoft Corp.   9,886    3,047,953 
Broadcom, Inc.   1,077    678,166 
Intel Corp.   11,909    590,210 
International Business Machines Corp.   4,450    578,589 
QUALCOMM, Inc.   3,460    528,757 
Akamai Technologies, Inc.*   4,069    485,798 
HP, Inc.   11,876    431,099 
Hewlett Packard Enterprise Co.   24,613    411,283 
NVIDIA Corp.   1,476    402,741 
Texas Instruments, Inc.   2,185    400,904 
NetApp, Inc.   4,528    375,824 
Skyworks Solutions, Inc.   2,712    361,455 
Seagate Technology Holdings plc   3,531    317,437 
Advanced Micro Devices, Inc.*   1,583    173,085 
Total Technology        12,266,072 
Consumer, Non-cyclical - 4.0%          
AbbVie, Inc.   4,351    705,340 
Merck & Company, Inc.   8,554    701,856 
Bristol-Myers Squibb Co.   8,855    646,681 
Amgen, Inc.   2,501    604,792 
Vertex Pharmaceuticals, Inc.*   2,125    554,561 
Gilead Sciences, Inc.   8,444    501,996 
Hologic, Inc.*   6,387    490,649 
Avery Dennison Corp.   2,613    454,584 
Quest Diagnostics, Inc.   3,319    454,239 
Laboratory Corporation of America Holdings*   1,708    450,331 
Pfizer, Inc.   8,643    447,448 
DaVita, Inc.*   3,918    443,165 
Waters Corp.*   1,412    438,271 
Regeneron Pharmaceuticals, Inc.*   618    431,623 
PerkinElmer, Inc.   2,453    427,950 
Johnson & Johnson   2,391    423,757 
Incyte Corp.*   4,421    351,116 
HCA Healthcare, Inc.   1,337    335,079 
Philip Morris International, Inc.   3,562    334,614 
Procter & Gamble Co.   1,397    213,462 
FleetCor Technologies, Inc.*   750    186,795 
UnitedHealth Group, Inc.   266    135,652 
Coca-Cola Co.   1,381    85,622 
Total Consumer, Non-cyclical        9,819,583 
Communications - 2.7%          
Alphabet, Inc. — Class C*   606    1,692,552 
Amazon.com, Inc.*   425    1,385,479 
Meta Platforms, Inc. — Class A*   3,549    789,156 
Cisco Systems, Inc.   12,563    700,513 
Juniper Networks, Inc.   12,941    480,888 
Motorola Solutions, Inc.   1,948    471,806 
VeriSign, Inc.*   2,086    464,051 
Corning, Inc.   8,754    323,110 
AT&T, Inc.   8,142    192,395 
F5, Inc.*   848    177,189 
Verizon Communications, Inc.   1,579    80,434 
Total Communications        6,757,573 
Financial - 2.2%          
Prudential Financial, Inc.   4,371    516,521 
PNC Financial Services Group, Inc.   2,741    505,577 
MetLife, Inc.   7,102    499,129 
Morgan Stanley   5,630    492,062 
Raymond James Financial, Inc.   4,369    480,197 
Everest Re Group Ltd.   1,538    463,522 
Berkshire Hathaway, Inc. — Class B*   1,175    414,669 
Visa, Inc. — Class A   1,826    404,952 
Fifth Third Bancorp   7,631    328,438 
Citigroup, Inc.   6,135    327,609 
Travelers Companies, Inc.   1,690    308,814 
Capital One Financial Corp.   1,413    185,513 
Aflac, Inc.   2,610    168,058 
JPMorgan Chase & Co.   936    127,596 
Bank of America Corp.   3,047    125,597 
Mastercard, Inc. — Class A   253    90,417 
Total Financial        5,438,671 
Consumer, Cyclical - 1.6%          
Tesla, Inc.*   510    549,576 
McDonald's Corp.   2,172    537,092 
AutoZone, Inc.*   252    515,234 
Yum! Brands, Inc.   3,953    468,549 
NVR, Inc.*   91    406,521 
O'Reilly Automotive, Inc.*   575    393,852 
Whirlpool Corp.   2,129    367,849 
Domino's Pizza, Inc.   482    196,179 
Home Depot, Inc.   613    183,489 
Lowe's Companies, Inc.   762    154,069 
Bath & Body Works, Inc.   3,172    151,622 
Total Consumer, Cyclical        3,924,032 
Industrial - 1.5%          
3M Co.   3,576    532,395 
Keysight Technologies, Inc.*   2,992    472,646 
Dover Corp.   2,912    456,893 
Sealed Air Corp.   6,564    439,526 
Snap-on, Inc.   2,109    433,357 
Masco Corp.   8,025    409,275 
Lockheed Martin Corp.   790    348,706 
Otis Worldwide Corp.   4,192    322,574 
Northrop Grumman Corp.   287    128,352 
Huntington Ingalls Industries, Inc.   613    122,257 
Total Industrial        3,665,981 
Energy - 0.7%          
Exxon Mobil Corp.   6,460    533,532 
Williams Companies, Inc.   13,231    442,048 
Kinder Morgan, Inc.   23,329    441,151 
Chevron Corp.   1,381    224,868 
Occidental Petroleum Corp.   2,711    153,822 
Total Energy        1,795,421 
Basic Materials - 0.2%          
LyondellBasell Industries N.V. — Class A   4,614    474,411 
Total Common Stocks          
(Cost $39,230,484)        44,141,744 

 

MUTUAL FUNDS - 80.0%
Guggenheim Strategy Fund III1   2,970,327    73,188,846 

 

 

 

Series A (StylePlus—Large Core Series)  
SCHEDULE OF INVESTMENTS (Unaudited)                                                                              March 31, 2022
   

 

   Shares   Value 
MUTUAL FUNDS - 80.0% (continued)
Guggenheim Variable Insurance Strategy Fund III1   2,714,986   $66,761,503 
Guggenheim Ultra Short Duration Fund — Institutional Class1   3,123,107    30,575,214 
Guggenheim Strategy Fund II1   1,165,508    28,613,229 
Total Mutual Funds          
(Cost $202,046,604)        199,138,792 

 

MONEY MARKET FUND - 3.6%
Dreyfus Treasury Securities Cash Management Fund — Institutional Shares, 0.12%2   8,976,084    8,976,084 
Total Money Market Fund          
(Cost $8,976,084)        8,976,084 
Total Investments - 101.4%          
(Cost $250,253,172)       $252,256,620 
Other Assets & Liabilities, net - (1.4)%        (3,420,644)
Total Net Assets - 100.0%       $248,835,976 

 

Futures Contracts           
Description  Number of Contracts   Expiration Date  Notional Amount   Value and Unrealized
Appreciation**
 
Equity Futures Contracts Purchased    
S&P 500 Index Mini Futures Contracts   11   Jun 2022  $2,490,263   $199,994 

 

Total Return Swap Agreements                  
Counterparty  Index  Type   Financing Rate  Payment Frequency  Maturity Date  Units   Notional Amount   Value and Unrealized Appreciation 
OTC Equity Index Swap Agreements††                  
Wells Fargo Bank, N.A.  S&P 500 Total Return Index  Pay   0.83% (Federal Funds Rate + 0.50%)  At Maturity  04/07/22   21,398   $203,844,837   $9,632,631 

 

* Non-income producing security.
** Includes cumulative appreciation (depreciation).
Value determined based on Level 1 inputs — See Note 3.
†† Value determined based on Level 2 inputs — See Note 3.
1 Affiliated issuer.
2 Rate indicated is the 7-day yield as of March 31, 2022.

 

plc — Public Limited Company
 
See Sector Classification in Other Information section.

 

 

 

Series A (StylePlus—Large Core Series)  
SCHEDULE OF INVESTMENTS (Unaudited)                                                                              March 31, 2022
   

 

The following table summarizes the inputs used to value the Fund's investments at March 31, 2022 (See Note 3 in the Notes to Schedule of Investments):

 

Investments in Securities (Assets)  Level 1 Quoted Prices   Level 2 Significant Observable Inputs   Level 3 Significant Unobservable Inputs   Total 
Common Stocks  $44,141,744   $   $   $44,141,744 
Mutual Funds   199,138,792            199,138,792 
Money Market Fund   8,976,084            8,976,084 
Equity Futures Contracts**   199,994            199,994 
Equity Index Swap Agreements**       9,632,631        9,632,631 
Total Assets  $252,456,614   $9,632,631   $   $262,089,245 

 

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

 

Affiliated Transactions

 

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

 

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III, and Guggenheim Variable Insurance Strategy Fund III, (collectively, the “Short Term Investment Vehicles”), each of which are open-end management investment companies managed by GI. The Short Term Investment Vehicles, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Short Term Investment Vehicles pay no investment management fees. The Short Term Investment Vehicles' annual report on Form N-CSR dated September 30, 2021, is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126821000490/gugg83048-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Fund Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

 

Transactions during the period ended March 31, 2022, in which the company is an affiliated issuer, were as follows:

 

Security Name  Value 12/31/21   Additions   Reductions   Realized Gain (Loss)   Change in Unrealized Appreciation (Depreciation)   Value 03/31/22   Shares 03/31/22   Investment Income 
Mutual Funds                                
  Guggenheim Strategy Fund II  $16,780,495   $12,058,261   $   $   $(225,527)  $28,613,229    1,165,508   $59,384 
  Guggenheim Strategy Fund III   81,097,553    277,681    (6,981,000)   (13,914)   (1,191,474)   73,188,846    2,970,327    283,330 
  Guggenheim Ultra Short Duration Fund — Institutional Class   54,253,430    85,674    (23,334,987)   152,490    (581,393)   30,575,214    3,123,107    88,365 
  Guggenheim Variable Insurance Strategy Fund III   67,541,303    222,788            (1,002,588)   66,761,503    2,714,986    227,270 
   $219,672,781   $12,644,404   $(30,315,987)  $138,576   $(3,000,982)  $199,138,792        $658,349 

 

 

 

Series B (Large Cap Value Series)  
SCHEDULE OF INVESTMENTS (Unaudited)                                                                              March 31, 2022
   

 

   Shares   Value 
COMMON STOCKS - 95.8%
Consumer, Non-cyclical - 21.0%
Tyson Foods, Inc. — Class A   65,226   $5,846,206 
Johnson & Johnson   32,219    5,710,173 
McKesson Corp.   14,704    4,501,336 
Humana, Inc.   9,178    3,993,990 
Medtronic plc   33,173    3,680,544 
Quest Diagnostics, Inc.   24,994    3,420,679 
Bunge Ltd.   25,800    2,858,898 
Ingredion, Inc.   31,921    2,781,915 
Henry Schein, Inc.*   29,932    2,609,771 
Archer-Daniels-Midland Co.   27,519    2,483,865 
J M Smucker Co.   17,762    2,405,153 
Merck & Company, Inc.   29,200    2,395,860 
Encompass Health Corp.   25,501    1,813,376 
HCA Healthcare, Inc.   6,743    1,689,931 
Amgen, Inc.   6,861    1,659,127 
Pfizer, Inc.   29,771    1,541,245 
Bristol-Myers Squibb Co.   16,678    1,217,994 
Total Consumer, Non-cyclical        50,610,063 
Financial - 15.8%          
Berkshire Hathaway, Inc. — Class B*   18,228    6,432,843 
JPMorgan Chase & Co.   38,094    5,192,974 
Bank of America Corp.   105,080    4,331,397 
Wells Fargo & Co.   62,015    3,005,247 
Allstate Corp.   21,352    2,957,465 
STAG Industrial, Inc. REIT   57,864    2,392,677 
Charles Schwab Corp.   27,103    2,285,054 
Medical Properties Trust, Inc. REIT   87,952    1,859,305 
Voya Financial, Inc.   27,419    1,819,251 
KeyCorp   64,668    1,447,270 
Zions Bancorp North America   20,791    1,363,058 
Park Hotels & Resorts, Inc. REIT   64,125    1,252,361 
American Tower Corp. — Class A REIT   4,618    1,160,134 
Mastercard, Inc. — Class A   3,197    1,142,544 
BOK Financial Corp.   9,366    879,936 
Gaming and Leisure Properties, Inc. REIT   12,532    588,127 
Total Financial        38,109,643 
Technology - 10.6%          
Micron Technology, Inc.   51,683    4,025,589 
Activision Blizzard, Inc.   35,893    2,875,388 
Apple, Inc.   16,014    2,796,204 
Leidos Holdings, Inc.   23,089    2,494,074 
DXC Technology Co.*   75,160    2,452,471 
KLA Corp.   6,419    2,349,739 
Qorvo, Inc.*   12,467    1,547,155 
Amdocs Ltd.   15,609    1,283,216 
Cerner Corp.   12,890    1,205,989 
Teradyne, Inc.   10,123    1,196,842 
QUALCOMM, Inc.   7,814    1,194,135 
Skyworks Solutions, Inc.   8,084    1,077,436 
Intel Corp.   21,442    1,062,665 
Total Technology        25,560,903 
Energy - 10.3%          
Chevron Corp.   36,592    5,958,275 
ConocoPhillips   43,888    4,388,800 
Marathon Oil Corp.   106,726    2,679,890 
Coterra Energy, Inc. — Class A   91,049    2,455,592 
Kinder Morgan, Inc.   95,042    1,797,244 
Equities Corp.   52,053    1,791,144 
Pioneer Natural Resources Co.   7,109    1,777,463 
Chesapeake Energy Corp.   15,779    1,372,773 
Diamondback Energy, Inc.   9,973    1,367,099 
Patterson-UTI Energy, Inc.   73,057    1,130,922 
Total Energy        24,719,202 
Utilities - 9.9%          
Edison International   55,980    3,924,198 
Exelon Corp.   76,577    3,647,363 
Duke Energy Corp.   28,440    3,175,610 
Pinnacle West Capital Corp.   34,050    2,659,305 
OGE Energy Corp.   61,949    2,526,280 
NiSource, Inc.   65,351    2,078,162 
Black Hills Corp.   26,749    2,060,208 
Constellation Energy Corp.   25,525    1,435,781 
Sempra Energy   8,419    1,415,402 
PPL Corp.   33,862    967,099 
Total Utilities        23,889,408 
Consumer, Cyclical - 8.5%          
Walmart, Inc.   25,244    3,759,336 
Delta Air Lines, Inc.*   57,154    2,261,584 
Southwest Airlines Co.*   47,188    2,161,210 
Whirlpool Corp.   11,825    2,043,124 
LKQ Corp.   40,623    1,844,690 
PACCAR, Inc.   20,253    1,783,682 
Lear Corp.   12,115    1,727,478 
DR Horton, Inc.   20,604    1,535,204 
Ralph Lauren Corp. — Class A   11,569    1,312,388 
PVH Corp.   14,248    1,091,539 
Home Depot, Inc.   2,909    870,751 
Total Consumer, Cyclical        20,390,986 
Communications - 7.5%          
Verizon Communications, Inc.   94,596    4,818,720 
Alphabet, Inc. — Class A*   1,325    3,685,289 
Cisco Systems, Inc.   46,985    2,619,884 
Comcast Corp. — Class A   47,311    2,215,101 
T-Mobile US, Inc.*   15,182    1,948,610 
Juniper Networks, Inc.   43,590    1,619,804 
Walt Disney Co.*   8,284    1,136,233 
Total Communications        18,043,641 
Industrial - 6.6%          
Johnson Controls International plc   46,562    3,053,070 
L3Harris Technologies, Inc.   10,969    2,725,468 
FedEx Corp.   11,555    2,673,711 
Knight-Swift Transportation Holdings, Inc.   46,371    2,339,881 
Curtiss-Wright Corp.   14,040    2,108,246 
Valmont Industries, Inc.   7,628    1,820,041 
Advanced Energy Industries, Inc.   12,693    1,092,614 
Total Industrial        15,813,031 
Basic Materials - 5.6%          
Huntsman Corp.   105,501    3,957,343 
Westlake Corp.   30,967    3,821,328 
Reliance Steel & Aluminum Co.   10,519    1,928,658 
Nucor Corp.   11,318    1,682,421 

 

 

 

Series B (Large Cap Value Series)  
SCHEDULE OF INVESTMENTS (Unaudited)                                                                              March 31, 2022
   

 

   Shares   Value 
COMMON STOCKS - 95.8% (continued)
Basic Materials - 5.6% (continued)
International Flavors & Fragrances, Inc.   6,793   $892,125 
Dow, Inc.   9,877    629,362 
DuPont de Nemours, Inc.   8,550    629,109 
Total Basic Materials        13,540,346 
Total Common Stocks          
(Cost $160,417,493)        230,677,223 

 

EXCHANGE-TRADED FUNDS - 1.0%
iShares Russell 1000 Value ETF   14,571    2,418,494 
Total Exchange-Traded Funds          
(Cost $2,304,195)        2,418,494 

 

MONEY MARKET FUND - 2.3%
Dreyfus Treasury Securities Cash Management Fund — Institutional Shares, 0.12%1   5,522,842    5,522,842 
Total Money Market Fund          
(Cost $5,522,842)        5,522,842 
Total Investments - 99.1%          
(Cost $168,244,530)       $238,618,559 
Other Assets & Liabilities, net - 0.9%        2,245,287 
Total Net Assets - 100.0%       $240,863,846 

 

* Non-income producing security.
Value determined based on Level 1 inputs — See Note 3.
1 Rate indicated is the 7-day yield as of March 31, 2022.

 

plc — Public Limited Company
REIT — Real Estate Investment Trust
 
See Sector Classification in Other Information section.

 

The following table summarizes the inputs used to value the Fund's investments at March 31, 2022 (See Note 3 in the Notes to Schedule of Investments):

 

Investments in Securities (Assets)  Level 1 Quoted Prices   Level 2 Significant Observable Inputs   Level 3 Significant Unobservable Inputs   Total 
Common Stocks  $230,677,223   $   $   $230,677,223 
Exchange-Traded Funds   2,418,494            2,418,494 
Money Market Fund   5,522,842            5,522,842 
Total Assets  $238,618,559   $   $   $238,618,559 

 

 

 

Series D (World Equity Income Series)  
SCHEDULE OF INVESTMENTS (Unaudited)                                                                              March 31, 2022
   

 

   Shares   Value 
COMMON STOCKS - 98.4%
Financial - 17.1%
Allstate Corp.   8,500   $1,177,335 
Prudential Financial, Inc.   9,900    1,169,883 
AXA S.A.††   37,800    1,106,882 
Australia & New Zealand Banking Group Ltd.††   50,200    1,028,851 
BNP Paribas S.A.††   16,600    948,869 
Assicurazioni Generali SpA††   40,500    926,584 
Swiss Re AG††   9,400    894,978 
JPMorgan Chase & Co.   6,000    817,920 
Banco Santander S.A.††   224,900    764,860 
American Tower Corp. — Class A REIT   2,900    728,538 
National Australia Bank Ltd.††   30,200    727,204 
Travelers Companies, Inc.   3,900    712,647 
Goldman Sachs Group, Inc.   2,100    693,210 
Swedbank AB — Class A††   45,800    684,039 
Vornado Realty Trust REIT   14,800    670,736 
Canadian Apartment Properties REIT   15,100    648,190 
CNP Assurances††   25,900    623,704 
Dexus REIT††   75,800    618,852 
EXOR N.V.††   8,100    615,933 
Phoenix Group Holdings plc††   76,200    610,305 
Amundi S.A.††,1   8,800    601,921 
GPT Group REIT††   152,200    587,198 
Sumitomo Mitsui Financial Group, Inc.††   17,600    556,033 
Truist Financial Corp.   8,800    498,960 
Credit Agricole S.A.††   40,000    478,077 
Essex Property Trust, Inc. REIT   1,100    380,028 
Western Union Co.   20,000    374,800 
Zurich Insurance Group AG††   700    345,790 
Societe Generale S.A.††   12,500    335,187 
Mediobanca Banca di Credito Finanziario SpA††   32,500    328,521 
Public Storage REIT   800    312,224 
Gjensidige Forsikring ASA††   12,300    305,085 
KBC Group N.V.††   4,200    301,432 
AvalonBay Communities, Inc. REIT   1,200    298,044 
Mizuho Financial Group, Inc.††   20,300    258,970 
NN Group N.V.††   5,000    253,465 
Wendel S.A.††   2,200    224,098 
Total Financial        22,609,353 
Consumer, Non-cyclical - 16.6%          
Johnson & Johnson   11,100    1,967,253 
AbbVie, Inc.   10,108    1,638,608 
Bristol-Myers Squibb Co.   20,394    1,489,374 
Philip Morris International, Inc.   14,700    1,380,918 
Merck & Company, Inc.   16,000    1,312,800 
Amgen, Inc.   5,100    1,233,282 
Cigna Corp.   5,000    1,198,050 
McKesson Corp.   3,700    1,132,681 
AmerisourceBergen Corp. — Class A   7,100    1,098,441 
Unilever plc††   23,800    1,080,427 
Gilead Sciences, Inc.   16,900    1,004,705 
CVS Health Corp.   9,100    921,011 
Cardinal Health, Inc.   16,200    918,540 
Kellogg Co.   13,890    895,766 
Imperial Brands plc††   42,500    894,971 
Japan Tobacco, Inc.††   51,100    872,786 
Altria Group, Inc.   14,000    731,500 
Automatic Data Processing, Inc.   2,500    568,850 
Archer-Daniels-Midland Co.   5,825    525,765 
Medipal Holdings Corp.††   30,700    505,213 
Viatris, Inc.   24,600    267,648 
Tyson Foods, Inc. — Class A   2,700    242,001 
Total Consumer, Non-cyclical        21,880,590 
Technology - 15.0%          
Apple, Inc.   22,277    3,889,787 
Microsoft Corp.   12,565    3,873,915 
Intel Corp.   28,067    1,391,001 
Accenture plc — Class A   3,994    1,346,897 
Texas Instruments, Inc.   7,100    1,302,708 
International Business Machines Corp.   8,524    1,108,290 
Oracle Corp.   13,200    1,092,036 
HP, Inc.   28,200    1,023,660 
Broadridge Financial Solutions, Inc.   6,500    1,012,115 
NetApp, Inc.   10,600    879,800 
Hewlett Packard Enterprise Co.   51,800    865,578 
NVIDIA Corp.   2,600    709,436 
KLA Corp.   1,600    585,696 
Broadcom, Inc.   700    440,776 
Intuit, Inc.   500    240,420 
Total Technology        19,762,115 
Communications - 12.6%          
Alphabet, Inc. — Class C*   1,106    3,089,047 
Amazon.com, Inc.*   779    2,539,501 
Verizon Communications, Inc.   27,331    1,392,241 
Comcast Corp. — Class A   22,300    1,044,086 
Motorola Solutions, Inc.   4,300    1,041,460 
Nippon Telegraph & Telephone Corp.††   34,800    1,011,217 
Thomson Reuters Corp.   8,300    901,384 
Cisco Systems, Inc.   15,400    858,704 
Liberty Global plc — Class C*   28,700    743,617 
Omnicom Group, Inc.   7,700    653,576 
Corning, Inc.   17,300    638,543 
Sirius XM Holdings, Inc.   89,900    595,138 
HKT Trust & HKT Ltd.††   378,600    519,148 
Liberty Media Corporation-Liberty SiriusXM — Class C*   10,000    457,300 
KDDI Corp.††   9,900    324,633 
CDW Corp.   1,700    304,113 
Telenor ASA††   17,200    246,876 
Meta Platforms, Inc. — Class A*   844    187,672 
Total Communications        16,548,256 
Consumer, Cyclical - 10.5%          
Home Depot, Inc.   5,000    1,496,650 
McDonald's Corp.   5,100    1,261,128 
Mitsubishi Corp.††   29,800    1,118,453 
Tesla, Inc.*   1,034    1,114,238 
PACCAR, Inc.   11,400    1,003,998 
Genuine Parts Co.   7,400    932,548 
Cummins, Inc.   3,800    779,418 
Dollar General Corp.   3,400    756,942 
Best Buy Company, Inc.   8,100    736,290 
Hasbro, Inc.   8,700    712,704 

 

 

 

Series D (World Equity Income Series)  
SCHEDULE OF INVESTMENTS (Unaudited)                                                                              March 31, 2022
   

 

   Shares   Value 
COMMON STOCKS - 98.4% (continued)
Consumer, Cyclical - 10.5% (continued)
Whirlpool Corp.   3,586   $619,589 
Newell Brands, Inc.   27,200    582,352 
Lear Corp.   4,000    570,360 
Lowe's Companies, Inc.   2,600    525,694 
BorgWarner, Inc.   12,100    470,690 
Walgreens Boots Alliance, Inc.   10,200    456,654 
ITOCHU Corp.††   12,200    412,735 
Lawson, Inc.††   7,800    298,625 
Total Consumer, Cyclical        13,849,068 
Industrial - 8.4%          
Waste Connections, Inc.   8,300    1,159,510 
Lockheed Martin Corp.   2,522    1,113,211 
Northrop Grumman Corp.   2,319    1,037,103 
Packaging Corporation of America   6,500    1,014,715 
3M Co.   6,690    996,007 
TE Connectivity Ltd.   6,600    864,468 
CK Infrastructure Holdings Ltd.††   113,600    759,438 
Aurizon Holdings Ltd.††   274,900    755,751 
Amcor plc   66,700    755,711 
Arrow Electronics, Inc.*   5,400    640,602 
Illinois Tool Works, Inc.   2,900    607,260 
Poste Italiane SpA††,1   53,200    603,491 
Kyocera Corp.††   9,200    514,899 
BAE Systems plc††   32,500    305,136 
Total Industrial        11,127,302 
Utilities - 6.5%          
Southern Co.   17,500    1,268,925 
National Grid plc††   64,100    984,932 
SSE plc††   40,000    913,698 
Exelon Corp.   16,500    785,895 
Hong Kong & China Gas Company Ltd.††   621,100    750,280 
EDP - Energias de Portugal S.A.††   134,600    662,673 
Endesa S.A.††   27,600    601,950 
UGI Corp.   15,900    575,898 
CLP Holdings Ltd.††   55,100    536,146 
Power Assets Holdings Ltd.   71,500    465,994 
Snam SpA††   79,900    460,877 
Consolidated Edison, Inc.   2,900    274,572 
Chubu Electric Power Company, Inc.††   22,100    228,763 
Total Utilities        8,510,603 
Basic Materials - 6.3%          
Rio Tinto plc††   16,600    1,326,891 
Fortescue Metals Group Ltd.††   81,700    1,256,126 
LyondellBasell Industries N.V. — Class A   11,400    1,172,148 
Steel Dynamics, Inc.   13,800    1,151,334 
International Paper Co.   20,400    941,460 
Celanese Corp. — Class A   6,000    857,220 
Nutrien Ltd.   7,100    734,081 
Eastman Chemical Co.   5,700    638,742 
Solvay S.A.*,††   2,700    266,176 
Total Basic Materials        8,344,178 
Energy - 5.4%          
Suncor Energy, Inc.   39,400    1,283,059 
BP plc††   223,700    1,096,514 
TC Energy Corp.   19,000    1,071,915 
Tourmaline Oil Corp.   20,214    931,603 
Eni SpA††   60,200    878,158 
ENEOS Holdings, Inc.††   198,700    742,988 
Valero Energy Corp.   4,400    446,776 
Phillips 66   4,100    354,199 
Repsol S.A.††   24,600    322,331 
Total Energy        7,127,543 
Total Common Stocks          
(Cost $121,113,722)        129,759,008 

 

EXCHANGE-TRADED FUNDS - 0.5%
SPDR S&P 500 ETF Trust   795    359,054 
iShares MSCI EAFE ETF   4,746    349,305 
Total Exchange-Traded Funds          
(Cost $687,201)        708,359 

 

MONEY MARKET FUND - 0.4%
Goldman Sachs Financial Square Treasury Instruments Fund — Institutional Shares, 0.16%2   527,109    527,109 
Total Money Market Fund          
(Cost $527,109)        527,109 
Total Investments - 99.3%          
(Cost $122,328,032)       $130,994,476 
Other Assets & Liabilities, net - 0.7%        859,545 
Total Net Assets - 100.0%       $131,854,021 

 

 

 

Series D (World Equity Income Series)  
SCHEDULE OF INVESTMENTS (Unaudited)                                                                              March 31, 2022
   

Futures Contracts           
Description  Number of Contracts   Expiration Date  Notional Amount   Value and Unrealized
Appreciation**
 
Currency Futures Contracts Sold Short    
Japanese Yen Futures Contracts   70   Jun 2022  $7,201,250   $178,804 
British Pound Futures Contracts   88   Jun 2022   7,223,150    20,604 
           $14,424,400   $199,408 

 

* Non-income producing security.
** Includes cumulative appreciation (depreciation).
Value determined based on Level 1 inputs, unless otherwise noted — See Note 3.
†† Value determined based on Level 2 inputs — See Note 3.
1 Security is a 144A or Section 4(a)(2) security. These securities have been determined to be liquid under guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) securities is $1,205,412 (cost $1,401,294), or 0.9% of total net assets.
2 Rate indicated is the 7-day yield as of March 31, 2022.

 

plc — Public Limited Company
REIT — Real Estate Investment Trust
 
See Sector Classification in Other Information section.

 

The following table summarizes the inputs used to value the Fund's investments at March 31, 2022 (See Note 3 in the Notes to Schedule of Investments):

 

Investments in Securities (Assets)  Level 1 Quoted Prices   Level 2 Significant Observable Inputs   Level 3 Significant Unobservable Inputs   Total 
Common Stocks  $94,379,868   $35,379,140   $   $129,759,008 
Exchange-Traded Funds   708,359            708,359 
Money Market Fund   527,109            527,109 
Currency Futures Contracts**   199,408            199,408 
Total Assets  $95,814,744   $35,379,140   $   $131,193,884 

 

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

 

 

 

Series E (Total Return Bond Series)  
SCHEDULE OF INVESTMENTS (Unaudited)                                                                              March 31, 2022
   

 

   Shares   Value 
COMMON STOCKS - 1.4%
Financial - 1.4%
Pershing Square Tontine Holdings Ltd. — Class A*,1   76,590   $1,523,375 
KKR Acquisition Holdings I Corp. — Class A*,1   33,829    332,539 
RXR Acquisition Corp. — Class A*,1   7,752    75,582 
TPG Pace Beneficial II Corp.*,1   6,675    65,548 
MSD Acquisition Corp. — Class A*,1   4,876    47,883 
AfterNext HealthTech Acquisition Corp. — Class A*,1   4,100    39,688 
Conyers Park III Acquisition Corp. — Class A*,1   3,800    37,050 
Waverley Capital Acquisition Corp. 1 — Class A*,1   3,000    28,860 
Colicity, Inc. — Class A*,1   2,716    26,508 
Acropolis Infrastructure Acquisition Corp. — Class A*,1   2,700    26,217 
Blue Whale Acquisition Corp. I — Class A*,1   2,200    21,340 
Total Financial        2,224,590 
Communications - 0.0%          
Figs, Inc. — Class A*   1,346    28,966 
Vacasa, Inc. — Class A*   3,356    27,754 
Total Communications        56,720 
Total Common Stocks          
(Cost $2,246,547)        2,281,310 

 

PREFERRED STOCKS†† - 4.8%
Financial - 4.8%
Wells Fargo & Co.
3.90% due 12/31/70*   450,000    431,348 
4.70%   16,000    352,800 
Equitable Holdings, Inc.          
4.95% due 12/31/70*   550,000    540,375 
4.30%   12,000    238,560 
Citigroup, Inc.          
3.88% due 12/31/70*   600,000    565,500 
4.00% due 12/31/70*   200,000    192,000 
Bank of America Corp.          
4.13%*   16,000    340,960 
4.38%*   12,000    259,800 
4.38%*   100,000    93,980 
Markel Corp.          
6.00% due 12/31/70*   660,000    683,100 
First Republic Bank          
4.25%   24,000    498,240 
4.13%   6,000    123,720 
4.50%   2,000    44,160 
Bank of New York Mellon Corp.          
3.75% due 12/31/70*   400,000    369,760 
4.70% due 12/31/70*   140,000    143,360 
Charles Schwab Corp.          
4.00% due 12/31/70*   500,000    449,060 
JPMorgan Chase & Co.          
3.65%   250,000    233,750 
4.63%   8,000    176,080 
MetLife, Inc.          
3.85% due 12/31/70*   400,000    394,480 
Public Storage          
4.63%   12,755    296,936 
4.13%   2,323    50,549 
W R Berkley Corp.          
4.13% due 03/30/61   11,288    250,593 
4.25% due 09/30/60   1,845    39,225 
Arch Capital Group Ltd.          
4.55%   10,000    211,100 
American Financial Group, Inc.          
4.50% due 09/15/60   8,968    204,112 
RenaissanceRe Holdings Ltd.          
4.20%   8,000    168,880 
Goldman Sachs Group, Inc.          
3.80%   150,000    139,031 
CNO Financial Group, Inc.          
5.13% due 11/25/60   6,000    133,200 
Kuvare US Holdings, Inc.          
7.00% due 02/17/51*,3   100,000    104,000 
Assurant, Inc.          
5.25% due 01/15/61   4,000    92,880 
Selective Insurance Group, Inc.          
4.60%   4,000    83,800 
Total Financial        7,905,339 
Total Preferred Stocks          
(Cost $8,626,177)        7,905,339 

 

WARRANTS - 0.0%
Pershing Square Tontine Holdings, Ltd.        
Expiring 07/24/25*,1   8,510    7,999 
KKR Acquisition Holdings I Corp.          
Expiring 12/31/27*,1   8,457    5,582 
MSD Acquisition Corp.          
Expiring 05/13/23*,1   974    760 
RXR Acquisition Corp.          
Expiring 03/08/26*,1   1,547    696 
Conyers Park III Acquisition Corp.          
Expiring 08/12/28*   1,266    647 
Ginkgo Bioworks Holdings, Inc.          
Expiring 12/31/27*   684    602 
AfterNext HealthTech Acquisition Corp.          
Expiring 07/09/23*   1,366    574 
Acropolis Infrastructure Acquisition Corp.          
Expiring 03/31/26*,1   900    428 
Waverley Capital Acquisition Corp.          
Expiring 04/30/27*,1   1,000    380 
Blue Whale Acquisition Corp.          
Expiring 07/30/26*,1   550    276 
Colicity, Inc.          
Expiring 12/31/27*,1   542    211 
Total Warrants          
(Cost $65,470)        18,155 

 

 

 

Series E (Total Return Bond Series)  
SCHEDULE OF INVESTMENTS (Unaudited)                                                                              March 31, 2022
   

 

   Shares   Value 
MUTUAL FUNDS - 4.0%
Guggenheim Total Return Bond Fund — R6-Class4   245,584   $6,515,346 
Total Mutual Funds          
(Cost $6,540,145)        6,515,346 

 

MONEY MARKET FUND - 1.4%
Dreyfus Treasury Securities Cash Management Fund — Institutional Shares, 0.12%5   1,713,989    1,713,989 
Dreyfus Treasury Obligations Cash Management Fund — Institutional Shares, 0.15%5   595,083    595,083 
Total Money Market Fund          
(Cost $2,309,072)        2,309,072 

 

   Face
Amount~
     
CORPORATE BONDS†† - 39.4%
Financial -  16.2%        
Pershing Square Holdings Ltd.        
3.25% due 11/15/303   1,000,000    917,580 
3.25% due 10/01/31   1,000,000    902,000 
Wells Fargo & Co.          
3.07% due 04/30/412   1,100,000    988,873 
Nationwide Mutual Insurance Co.          
4.35% due 04/30/503   950,000    945,167 
Bank of America Corp.          
2.59% due 04/29/312   890,000    821,084 
Liberty Mutual Group, Inc.          
4.30% due 02/01/613   700,000    556,360 
3.95% due 05/15/603   280,000    254,758 
Reliance Standard Life Global Funding II          
2.75% due 05/07/253   800,000    784,449 
Reinsurance Group of America, Inc.          
3.15% due 06/15/30   750,000    722,402 
Wilton RE Ltd.          
6.00% †††,2,3,6   700,000    673,960 
Macquarie Bank Ltd.          
3.05% due 03/03/362,3   450,000    396,318 
3.62% due 06/03/303   290,000    273,322 
Arch Capital Group Ltd.          
3.64% due 06/30/50   700,000    641,229 
American International Group, Inc.          
4.38% due 06/30/50   550,000    602,811 
GLP Capital Limited Partnership / GLP Financing II, Inc.          
5.30% due 01/15/29   300,000    315,171 
4.00% due 01/15/31   290,000    281,265 
Citigroup, Inc.          
2.57% due 06/03/312   590,000    540,503 
Intercontinental Exchange, Inc.          
2.65% due 09/15/40   600,000    511,962 
Nippon Life Insurance Co.          
2.75% due 01/21/512,3   350,000    314,125 
2.90% due 09/16/512,3   200,000    181,053 
Fidelity National Financial, Inc.          
3.40% due 06/15/30   300,000    288,900 
2.45% due 03/15/31   230,000    203,706 
Deloitte LLP          
3.56% due 05/07/30†††   500,000    478,360 
Host Hotels & Resorts, LP          
3.50% due 09/15/30   435,000    414,755 
2.90% due 12/15/31   50,000    44,693 
Iron Mountain, Inc.          
4.50% due 02/15/313   233,000    215,178 
5.63% due 07/15/323   125,000    123,160 
5.25% due 07/15/303   117,000    114,660 
Maple Grove Funding Trust I          
4.16% due 08/15/513   500,000    450,801 
JPMorgan Chase & Co.          
2.96% due 05/13/312   230,000    215,210 
4.49% due 03/24/312   200,000    211,988 
Fairfax Financial Holdings Ltd.          
3.38% due 03/03/31   450,000    419,695 
Global Atlantic Finance Co.          
4.70% due 10/15/512,3   250,000    235,625 
3.13% due 06/15/313   200,000    178,954 
FS KKR Capital Corp.          
2.63% due 01/15/27   250,000    228,945 
3.25% due 07/15/27   200,000    184,615 
Crown Castle International Corp.          
2.90% due 04/01/41   250,000    206,940 
3.30% due 07/01/30   201,000    192,222 
Macquarie Group Ltd.          
2.87% due 01/14/332,3   250,000    221,892 
2.69% due 06/23/322,3   200,000    176,031 
Safehold Operating Partnership, LP          
2.85% due 01/15/32   271,000    238,763 
2.80% due 06/15/31   180,000    158,064 
OneAmerica Financial Partners, Inc.          
4.25% due 10/15/503   410,000    394,686 
Ares Finance Company II LLC          
3.25% due 06/15/303   410,000    393,156 
Massachusetts Mutual Life Insurance Co.          
3.20% due 12/01/613   450,000    367,391 
United Wholesale Mortgage LLC          
5.50% due 04/15/293   300,000    267,306 
5.50% due 11/15/253   100,000    97,000 
National Australia Bank Ltd.          
2.99% due 05/21/313   400,000    362,967 
Standard Chartered plc          
4.64% due 04/01/312,3   350,000    360,887 
First American Financial Corp.          
4.00% due 05/15/30   360,000    360,554 
Rocket Mortgage LLC / Rocket Mortgage Company-Issuer, Inc.          
3.88% due 03/01/313   350,000    316,750 

 

 

 

Series E (Total Return Bond Series)  
SCHEDULE OF INVESTMENTS (Unaudited)                                                                              March 31, 2022
   

 

   Face
Amount~
   Value 
CORPORATE BONDS†† - 39.4% (continued)
Financial -  16.2% (continued)        
Brookfield Finance, Inc.        
3.50% due 03/30/51   280,000   $248,984 
4.70% due 09/20/47   50,000    52,995 
LPL Holdings, Inc.          
4.00% due 03/15/293   300,000    284,694 
Belrose Funding Trust          
2.33% due 08/15/303   320,000    280,274 
SBA Communications Corp.          
3.13% due 02/01/29   250,000    227,405 
3.88% due 02/15/27   50,000    48,771 
ABN AMRO Bank N.V.          
2.47% due 12/13/292,3   300,000    274,199 
Jefferies Group LLC          
2.75% due 10/15/32   300,000    268,463 
UBS Group AG          
2.10% due 02/11/322,3   300,000    262,301 
KKR Group Finance Company VIII LLC          
3.50% due 08/25/503   290,000    252,963 
Everest Reinsurance Holdings, Inc.          
3.50% due 10/15/50   280,000    249,660 
Kennedy-Wilson, Inc.          
4.75% due 03/01/29   150,000    144,620 
4.75% due 02/01/30   100,000    95,091 
Jefferies Finance LLC / JFIN Company-Issuer Corp.          
5.00% due 08/15/283   250,000    239,370 
Assured Guaranty US Holdings, Inc.          
3.15% due 06/15/31   150,000    141,485 
3.60% due 09/15/51   100,000    86,274 
Stewart Information Services Corp.          
3.60% due 11/15/31   250,000    227,529 
Societe Generale S.A.          
2.89% due 06/09/322,3   250,000    224,015 
Assurant, Inc.          
2.65% due 01/15/32   250,000    218,238 
Westpac Banking Corp.          
3.02% due 11/18/362   150,000    133,282 
2.96% due 11/16/40   100,000    84,033 
Trustage Financial Group, Inc.          
4.63% due 04/15/323   200,000    200,678 
NFP Corp.          
6.88% due 08/15/283   200,000    191,000 
Hunt Companies, Inc.          
5.25% due 04/15/293   200,000    190,530 
AmFam Holdings, Inc.          
2.81% due 03/11/313   200,000    184,650 
Primerica, Inc.          
2.80% due 11/19/31   200,000    184,506 
Americo Life, Inc.          
3.45% due 04/15/313   200,000    180,303 
Lincoln National Corp.          
4.38% due 06/15/50   150,000    154,411 
Corebridge Financial, Inc.          
4.35% due 04/05/423   150,000    149,960 
Kemper Corp.          
2.40% due 09/30/30   170,000    148,170 
Raymond James Financial, Inc.          
3.75% due 04/01/51   150,000    146,589 
Prudential Financial, Inc.          
3.70% due 10/01/502   130,000    119,132 
PartnerRe Finance B LLC          
4.50% due 10/01/502   110,000    106,150 
Nasdaq, Inc.          
3.25% due 04/28/50   110,000    94,949 
Western & Southern Life Insurance Co.          
3.75% due 04/28/613   100,000    90,309 
Jefferies Group LLC / Jefferies Group Capital Finance, Inc.          
2.63% due 10/15/31   100,000    90,154 
Penn Mutual Life Insurance Co.          
3.80% due 04/29/613   100,000    88,829 
Apollo Management Holdings, LP          
2.65% due 06/05/303   90,000    83,987 
Home Point Capital, Inc.          
5.00% due 02/01/263   100,000    81,931 
Brown & Brown, Inc.          
2.38% due 03/15/31   90,000    79,067 
American Equity Investment Life Holding Co.          
5.00% due 06/15/27   69,000    71,989 
CNO Financial Group, Inc.          
5.25% due 05/30/29   50,000    52,600 
Brookfield Finance LLC          
3.45% due 04/15/50   50,000    43,904 
Cushman & Wakefield US Borrower LLC          
6.75% due 05/15/283   35,000    36,575 
Weyerhaeuser Co.          
4.00% due 04/15/30   34,000    35,012 
Total Financial        26,598,277 
Consumer, Non-cyclical -  5.4%          
CoStar Group, Inc.          
2.80% due 07/15/303   740,000    676,338 
Altria Group, Inc.          
3.70% due 02/04/51   550,000    444,252 
3.40% due 05/06/30   170,000    163,495 
4.45% due 05/06/50   50,000    45,373 
Mozart Debt Merger Sub, Inc.          
3.88% due 04/01/293   550,000    508,750 
BAT Capital Corp.          
3.98% due 09/25/50   300,000    243,117 
4.70% due 04/02/27   190,000    194,873 
Quanta Services, Inc.          
2.90% due 10/01/30   467,000    432,076 
Johns Hopkins University          
2.81% due 01/01/60   500,000    416,740 
Children's Hospital Corp.          
2.59% due 02/01/50   500,000    399,991 

 

 

 

Series E (Total Return Bond Series)  
SCHEDULE OF INVESTMENTS (Unaudited)                                                                              March 31, 2022
   

 

   Face
Amount~
   Value 
CORPORATE BONDS†† - 39.4% (continued)
Consumer, Non-cyclical -  5.4% (continued)        
Royalty Pharma plc        
3.55% due 09/02/50   310,000   $257,511 
2.20% due 09/02/30   160,000    139,887 
DaVita, Inc.          
3.75% due 02/15/313   303,000    265,125 
4.63% due 06/01/303   113,000    105,519 
Kraft Heinz Foods Co.          
4.38% due 06/01/46   180,000    177,775 
4.88% due 10/01/49   75,000    79,022 
5.50% due 06/01/50   50,000    56,776 
5.00% due 06/04/42   50,000    53,405 
Global Payments, Inc.          
2.90% due 05/15/30   210,000    193,818 
2.90% due 11/15/31   140,000    127,549 
Smithfield Foods, Inc.          
2.63% due 09/13/313   250,000    219,514 
3.00% due 10/15/303   110,000    99,832 
US Foods, Inc.          
6.25% due 04/15/253   200,000    205,000 
4.75% due 02/15/293   89,000    84,884 
JBS USA LUX S.A. / JBS USA Food Company / JBS USA Finance, Inc.          
3.00% due 05/15/323   200,000    180,002 
4.38% due 02/02/523   100,000    86,988 
Becle, SAB de CV          
2.50% due 10/14/313   250,000    221,775 
Post Holdings, Inc.          
4.50% due 09/15/313   250,000    221,498 
California Institute of Technology          
3.65% due 09/01/19   225,000    192,970 
TriNet Group, Inc.          
3.50% due 03/01/293   200,000    183,750 
Triton Container International Ltd.          
3.15% due 06/15/313   200,000    182,857 
Kimberly-Clark de Mexico SAB de CV          
2.43% due 07/01/313   200,000    181,108 
Central Garden & Pet Co.          
4.13% due 04/30/313   100,000    90,000 
4.13% due 10/15/30   75,000    67,687 
Spectrum Brands, Inc.          
5.75% due 07/15/25   150,000    152,813 
Hologic, Inc.          
3.25% due 02/15/293   150,000    140,065 
Endo Luxembourg Finance Company I SARL / Endo US, Inc.          
6.13% due 04/01/293   150,000    136,875 
Universal Health Services, Inc.          
2.65% due 10/15/303   150,000    136,172 
Transurban Finance Company Pty Ltd.          
2.45% due 03/16/313   150,000    133,003 
Avantor Funding, Inc.          
4.63% due 07/15/283   125,000    123,625 
Nielsen Finance LLC / Nielsen Finance Co.          
4.50% due 07/15/293   100,000    99,750 
Block, Inc.          
2.75% due 06/01/263   100,000    94,522 
Gartner, Inc.          
3.75% due 10/01/303   100,000    93,875 
Syneos Health, Inc.          
3.63% due 01/15/293   100,000    92,375 
Triton Container International Limited / TAL International Container Corp.          
3.25% due 03/15/32   100,000    92,113 
Prime Security Services Borrower LLC / Prime Finance, Inc.          
3.38% due 08/31/273   100,000    91,489 
Service Corporation International          
3.38% due 08/15/30   100,000    90,088 
GXO Logistics, Inc.          
2.65% due 07/15/313   100,000    86,710 
Tenet Healthcare Corp.          
4.63% due 06/15/283   75,000    73,594 
Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc.          
5.00% due 12/31/263   50,000    46,125 
Total Consumer, Non-cyclical        8,882,451 
Industrial -  4.3%          
Boeing Co.          
5.15% due 05/01/30   970,000    1,034,464 
5.81% due 05/01/50   490,000    565,821 
5.71% due 05/01/40   490,000    547,551 
2.20% due 02/04/26   200,000    189,083 
Amsted Industries, Inc.          
4.63% due 05/15/303   470,000    445,433 
Stadco LA, LLC          
3.75% due 05/15/56†††   500,000    445,307 
Crown Americas LLC / Crown Americas Capital Corporation VI          
4.75% due 02/01/26   400,000    404,272 
Cellnex Finance Company S.A.          
3.88% due 07/07/413   450,000    365,544 
TD SYNNEX Corp.          
2.65% due 08/09/313   250,000    214,686 
2.38% due 08/09/283   150,000    135,010 
Flowserve Corp.          
3.50% due 10/01/30   270,000    255,705 
2.80% due 01/15/32   100,000    88,446 
Owens Corning          
3.88% due 06/01/30   320,000    323,140 
Textron, Inc.          
2.45% due 03/15/31   350,000    316,876 
Vontier Corp.          
2.95% due 04/01/31   350,000    310,818 
Acuity Brands Lighting, Inc.          
2.15% due 12/15/30   350,000    307,303 

 

 

 

Series E (Total Return Bond Series)  
SCHEDULE OF INVESTMENTS (Unaudited)                                                                              March 31, 2022
   

 

   Face
Amount~
   Value 
CORPORATE BONDS†† - 39.4% (continued)
Industrial -  4.3% (continued)        
Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc.        
4.13% due 08/15/263   250,000   $240,856 
Standard Industries, Inc.          
4.38% due 07/15/303   125,000    114,495 
3.38% due 01/15/313   125,000    109,375 
GATX Corp.          
4.00% due 06/30/30   140,000    141,923 
3.50% due 03/15/28   50,000    49,715 
Weir Group plc          
2.20% due 05/13/263   200,000    186,785 
Howmet Aerospace, Inc.          
6.75% due 01/15/28   145,000    157,325 
Berry Global, Inc.          
1.57% due 01/15/26   50,000    46,579 
Norfolk Southern Corp.          
4.10% due 05/15/21   50,000    46,532 
Graphic Packaging International LLC          
3.50% due 03/01/293   11,000    10,120 
Total Industrial        7,053,164 
Consumer, Cyclical -  3.7%          
Marriott International, Inc.          
4.63% due 06/15/30   340,000    352,135 
3.50% due 10/15/32   330,000    314,117 
5.75% due 05/01/25   250,000    265,434 
2.85% due 04/15/31   170,000    155,158 
2.75% due 10/15/33   100,000    88,252 
Delta Air Lines, Inc.          
7.00% due 05/01/253   1,070,000    1,146,093 
Magallanes, Inc.          
4.28% due 03/15/323   400,000    401,779 
5.14% due 03/15/523   200,000    204,619 
Hyatt Hotels Corp.          
5.38% due 04/23/25   220,000    230,935 
5.75% due 04/23/30   190,000    209,938 
Hilton Domestic Operating Company, Inc.          
3.75% due 05/01/293   400,000    375,466 
Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd.          
6.50% due 06/20/273   350,000    364,875 
Choice Hotels International, Inc.          
3.70% due 01/15/31   360,000    350,049 
1011778 BC ULC / New Red Finance, Inc.          
4.00% due 10/15/303   300,000    270,611 
3.88% due 01/15/283   55,000    52,114 
Delta Air Lines Inc. / SkyMiles IP Ltd.          
4.50% due 10/20/253   300,000    301,743 
PetSmart, Inc. / PetSmart Finance Corp.          
4.75% due 02/15/283   250,000    241,601 
Walgreens Boots Alliance, Inc.          
4.10% due 04/15/50   198,000    192,869 
United Airlines, Inc.          
4.38% due 04/15/263   150,000    147,551 
Scotts Miracle-Gro Co.          
4.00% due 04/01/31   150,000    130,798 
Fertitta Entertainment LLC / Fertitta Entertainment Finance Company, Inc.          
4.63% due 01/15/293   100,000    94,750 
British Airways Class A Pass Through Trust          
2.90% due 03/15/353   99,933    91,819 
Allison Transmission, Inc.          
3.75% due 01/30/313   100,000    90,715 
WMG Acquisition Corp.          
3.00% due 02/15/313   75,000    67,125 
Aramark Services, Inc.          
5.00% due 02/01/283   10,000    9,700 
Total Consumer, Cyclical        6,150,246 
Communications -  3.6%          
Paramount Global          
4.95% due 01/15/31   617,000    655,859 
4.95% due 05/19/50   320,000    334,448 
Charter Communications Operating LLC / Charter Communications Operating Capital          
2.80% due 04/01/31   625,000    563,309 
2.25% due 01/15/29   100,000    89,987 
3.90% due 06/01/52   50,000    42,165 
Level 3 Financing, Inc.          
3.63% due 01/15/293   330,000    288,750 
4.25% due 07/01/283   288,000    264,386 
3.75% due 07/15/293   100,000    88,623 
British Telecommunications plc          
4.88% due 11/23/812,3   350,000    332,500 
9.63% due 12/15/30   100,000    136,436 
AT&T, Inc.          
2.75% due 06/01/31   410,000    384,449 
CSC Holdings LLC          
4.13% due 12/01/303   200,000    175,373 
3.38% due 02/15/313   200,000    168,500 
McGraw-Hill Education, Inc.          
5.75% due 08/01/283   300,000    286,131 
Virgin Media Secured Finance plc          
4.50% due 08/15/303   300,000    279,750 
Cable One, Inc.          
4.00% due 11/15/303   300,000    276,666 
UPC Broadband Finco BV          
4.88% due 07/15/313   250,000    234,717 
Vodafone Group plc          
4.13% due 06/04/812   250,000    226,985 
Virgin Media Vendor Financing Notes IV DAC          
5.00% due 07/15/283   200,000    192,000 
Altice France S.A.          
5.13% due 07/15/293   200,000    179,250 

 

 

 

Series E (Total Return Bond Series)  
SCHEDULE OF INVESTMENTS (Unaudited)                        &nbs