Form NPORT-P NEUBERGER BERMAN ALTERNA For: Jul 31

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September 22, 2021 3:39 PM EDT

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    NPORT-P
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      NEUBERGER BERMAN ALTERNATIVE FUNDS
      811-21715
      0001317474
      549300O1DN1L4W2HMC23
      1290 AVENUE OF THE AMERICAS
      NEW YORK
      
      10104
      212-476-8800
      Neuberger Berman U.S. Equity Index PutWrite Strategy Fund
      S000055088
      549300EXZFKOKING8C30
      2021-10-31
      2021-07-31
      N
    
    
      443729538.72
      4258137.99
      439471400.73
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
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      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      
        
          USD
          
          
        
      
      
      
      N
      
        
          
          
          
          
        
        
          
            
            
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
    
    
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4400 PUT
        000000000
        
          
        
        -50.00000000
        NC
        USD
        -259500.00000000
        -0.05904821100
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4400.00000000
            USD
            2021-08-20
            XXXX
            27184.80000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2130 PUT
        000000000
        
          
        
        -9.00000000
        NC
        USD
        -15345.00000000
        -0.00349169478
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2130.00000000
            USD
            2021-08-20
            XXXX
            47870.50000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4350 PUT
        000000000
        
          
        
        -157.00000000
        NC
        USD
        -416050.00000000
        -0.09467055178
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4350.00000000
            USD
            2021-08-13
            XXXX
            607507.18000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2210 PUT
        000000000
        
          
        
        -17.00000000
        NC
        USD
        -52530.00000000
        -0.01195299623
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2210.00000000
            USD
            2021-08-13
            XXXX
            39900.29000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX JUL21 2180 PUT
        000000000
        
          
        
        -9.00000000
        NC
        USD
        -45.00000000
        -0.00001023957
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2180.00000000
            USD
            2021-07-30
            XXXX
            39867.64000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4360 PUT
        000000000
        
          
        
        -131.00000000
        NC
        USD
        -191915.00000000
        -0.04366950834
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4360.00000000
            USD
            2021-08-06
            XXXX
            520289.26000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2245 PUT
        000000000
        
          
        
        -19.00000000
        NC
        USD
        -68875.00000000
        -0.01567223712
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2245.00000000
            USD
            2021-08-06
            XXXX
            36776.61000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2180 PUT
        000000000
        
          
        
        -5.00000000
        NC
        USD
        -14500.00000000
        -0.00329941834
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2180.00000000
            USD
            2021-08-20
            XXXX
            17597.50000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2190 PUT
        000000000
        
          
        
        -5.00000000
        NC
        USD
        -16050.00000000
        -0.00365211478
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2190.00000000
            USD
            2021-08-20
            XXXX
            13947.50000000
          
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128286H8
        
          
        
        52700000.00000000
        PA
        USD
        53455504.04000000
        12.16359106672
        Long
        DBT
        UST
        US
        N
        
        2
        
          2022-03-15
          Fixed
          2.38000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2245 PUT
        000000000
        
          
        
        -9.00000000
        NC
        USD
        -41805.00000000
        -0.00951256439
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2245.00000000
            USD
            2021-08-13
            XXXX
            7248.00000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4330 PUT
        000000000
        
          
        
        -23.00000000
        NC
        USD
        -23000.00000000
        -0.00523356012
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4330.00000000
            USD
            2021-08-06
            XXXX
            128422.67000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4425 PUT
        000000000
        
          
        
        -43.00000000
        NC
        USD
        -318845.00000000
        -0.07255193386
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4425.00000000
            USD
            2021-08-27
            XXXX
            -42766.64000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2170 PUT
        000000000
        
          
        
        -1.00000000
        NC
        USD
        -3580.00000000
        -0.00081461501
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2170.00000000
            USD
            2021-08-27
            XXXX
            2539.50000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2270 PUT
        000000000
        
          
        
        -2.00000000
        NC
        USD
        -12150.00000000
        -0.00276468502
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2270.00000000
            USD
            2021-08-13
            XXXX
            -1091.00000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4345 PUT
        000000000
        
          
        
        -106.00000000
        NC
        USD
        -388490.00000000
        -0.08839938147
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4345.00000000
            USD
            2021-08-20
            XXXX
            315698.74000000
          
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912828ZD5
        
          
        
        54600000.00000000
        PA
        USD
        54915656.25000000
        12.49584299655
        Long
        DBT
        UST
        US
        N
        
        2
        
          2023-03-15
          Fixed
          0.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4400 PUT
        000000000
        
          
        
        -45.00000000
        NC
        USD
        -290475.00000000
        -0.06609645121
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4400.00000000
            USD
            2021-08-27
            XXXX
            17646.34000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4360 PUT
        000000000
        
          
        
        -56.00000000
        NC
        USD
        -224840.00000000
        -0.05116146343
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4360.00000000
            USD
            2021-08-20
            XXXX
            129846.10000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2200 PUT
        000000000
        
          
        
        -9.00000000
        NC
        USD
        -40950.00000000
        -0.00931801248
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2200.00000000
            USD
            2021-08-27
            XXXX
            16375.50000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2170 PUT
        000000000
        
          
        
        -27.00000000
        NC
        USD
        -50490.00000000
        -0.01148880221
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2170.00000000
            USD
            2021-08-13
            XXXX
            98084.86000000
          
        
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        549300BZ5TGIFZUZDZ37
        State Street Institutional US Government Money Market Fund
        857492706
        
          
        
        383444.91000000
        NS
        USD
        383444.91000000
        0.087251390958
        Long
        STIV
        RF
        US
        N
        
        2
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4370 PUT
        000000000
        
          
        
        -2.00000000
        NC
        USD
        -11060.00000000
        -0.00251665978
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4370.00000000
            USD
            2021-08-27
            XXXX
            3911.31000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX
        000000000
        
          
        
        -6.00000000
        NC
        USD
        -60.00000000
        -0.00001365276
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2200.00000000
            USD
            2021-07-30
            XXXX
            17397.00000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4230 PUT
        000000000
        
          
        
        -7.00000000
        NC
        USD
        -13930.00000000
        -0.00316971706
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4230.00000000
            USD
            2021-08-20
            XXXX
            49392.67000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX JUL21 4345 PUT
        000000000
        
          
        
        -46.00000000
        NC
        USD
        -230.00000000
        -0.00005233560
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4345.00000000
            USD
            2021-07-30
            XXXX
            226594.99000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4380 PUT
        000000000
        
          
        
        -33.00000000
        NC
        USD
        -111045.00000000
        -0.02526785584
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4380.00000000
            USD
            2021-08-13
            XXXX
            93583.53000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2260 PUT
        000000000
        
          
        
        -34.00000000
        NC
        USD
        -152830.00000000
        -0.03477586931
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2260.00000000
            USD
            2021-08-06
            XXXX
            42938.63000000
          
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912828YW4
        
          
        
        54600000.00000000
        PA
        USD
        55726125.00000000
        12.68026199371
        Long
        DBT
        UST
        US
        N
        
        2
        
          2022-12-15
          Fixed
          1.63000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4355 PUT
        000000000
        
          
        
        -49.00000000
        NC
        USD
        -66885.00000000
        -0.01521942039
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4355.00000000
            USD
            2021-08-06
            XXXX
            217591.95000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4415 PUT
        000000000
        
          
        
        -74.00000000
        NC
        USD
        -518740.00000000
        -0.11803726002
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4415.00000000
            USD
            2021-08-27
            XXXX
            13682.52000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4325 PUT
        000000000
        
          
        
        -13.00000000
        NC
        USD
        -12220.00000000
        -0.00278061325
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4325.00000000
            USD
            2021-08-06
            XXXX
            68520.46000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2270 PUT
        000000000
        
          
        
        -20.00000000
        NC
        USD
        -103100.00000000
        -0.02346000213
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2270.00000000
            USD
            2021-08-06
            XXXX
            -1060.00000000
          
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912828ZU7
        
          
        
        38700000.00000000
        PA
        USD
        38755933.50000000
        8.818761228972
        Long
        DBT
        UST
        US
        N
        
        2
        
          2023-06-15
          Fixed
          0.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912828YF1
        
          
        
        54600000.00000000
        PA
        USD
        55463788.93000000
        12.62056844606
        Long
        DBT
        UST
        US
        N
        
        2
        
          2022-09-15
          Fixed
          1.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128286Y1
        
          
        
        53800000.00000000
        PA
        USD
        54583882.68000000
        12.42034921711
        Long
        DBT
        UST
        US
        N
        
        2
        
          2022-06-15
          Fixed
          1.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        549300BZ5TGIFZUZDZ37
        State Street Institutional US Government Money Market Fund
        857492706
        
          
        
        29159464.98000000
        NS
        USD
        29159464.98000000
        6.635122315482
        Long
        STIV
        RF
        US
        N
        
        2
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128285A4
        
          
        
        50500000.00000000
        PA
        USD
        50662863.51000000
        11.52813662637
        Long
        DBT
        UST
        US
        N
        
        2
        
          2021-09-15
          Fixed
          2.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX JUL21 2195 PUT
        000000000
        
          
        
        -3.00000000
        NC
        USD
        -15.00000000
        -0.00000341319
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2195.00000000
            USD
            2021-07-30
            XXXX
            8143.50000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4370 PUT
        000000000
        
          
        
        -9.00000000
        NC
        USD
        -27900.00000000
        -0.00634853598
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4370.00000000
            USD
            2021-08-13
            XXXX
            24720.09000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2250 PUT
        000000000
        
          
        
        -25.00000000
        NC
        USD
        -166875.00000000
        -0.03797175418
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2250.00000000
            USD
            2021-08-27
            XXXX
            -30294.91000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4345 PUT
        000000000
        
          
        
        -3.00000000
        NC
        USD
        -7650.00000000
        -0.00174072760
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4345.00000000
            USD
            2021-08-13
            XXXX
            11101.74000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2215 PUT
        000000000
        
          
        
        -10.00000000
        NC
        USD
        -51100.00000000
        -0.01162760532
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2215.00000000
            USD
            2021-08-27
            XXXX
            4333.46000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S+P 500 INDEX AUG21 4375 PUT
        000000000
        
          
        
        -15.00000000
        NC
        USD
        -48450.00000000
        -0.01102460818
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                S&P 500 Index
                SPX Index
              
            
            100.00000000
            4375.00000000
            USD
            2021-08-13
            XXXX
            46886.72000000
          
        
        
          N
          N
          N
        
      
      
        United States Treasury
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128285R7
        
          
        
        47900000.00000000
        PA
        USD
        48354675.90000000
        11.00291755497
        Long
        DBT
        UST
        US
        N
        
        2
        
          2021-12-15
          Fixed
          2.63000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX JUL21 2190 PUT
        000000000
        
          
        
        -11.00000000
        NC
        USD
        -55.00000000
        -0.00001251503
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2190.00000000
            USD
            2021-07-30
            XXXX
            41451.40000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2180 PUT
        000000000
        
          
        
        -21.00000000
        NC
        USD
        -44520.00000000
        -0.01013035203
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2180.00000000
            USD
            2021-08-13
            XXXX
            78578.34000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        RUSSELL 2000 INDEX AUG21 2200 PUT
        000000000
        
          
        
        -58.00000000
        NC
        USD
        -205610.00000000
        -0.04678575207
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              Citibank Global Markets Inc.
              549300EXZFKOKING8C30
            
            Put
            Written
            
              
                Russell 2000 Index
                RTY Index
              
            
            100.00000000
            2200.00000000
            USD
            2021-08-20
            XXXX
            112653.06000000
          
        
        
          N
          N
          N
        
      
    
    
      
      
      
    
    
      2021-08-30
      NEUBERGER BERMAN ALTERNATIVE FUNDS
      John McGovern
      John McGovern
      Treasurer
    
  
  XXXX

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) July 31, 2021

Investments	Shares		Value ($)

LONG POSITIONS - 89.7%

COMMON STOCKS - 53.2%

Aerospace & Defense - 0.9%
Kaman Corp.(a)		11,014		488,471
PAE, Inc.*(a)		21,846		194,866
				683,337
Airlines - 0.0%(b)
American Airlines Group, Inc.*(a)		623		12,697
American Airlines Group, Inc. Escrow*(c)		14,383		719
				13,416
Auto Components - 0.0%(b)
Garrett Motion, Inc. (Switzerland)*		700		4,522
Automobiles - 0.5%
General Motors Co.*(a)		6,098		346,610
Banks - 1.1%
Bank of America Corp.		4,974		190,803
CIT Group, Inc.		2,000		96,480
Hancock Whitney Corp.(a)		11,317		494,666
Pacific Mercantile Bancorp*		2,100		17,577
				799,526
Beverages - 0.3%
Becle SAB de CV (Mexico)*(a)		79,000		197,676
Biotechnology - 0.5%
Grifols SA, ADR (Spain)		4,900		74,529
Kindred Biosciences, Inc.*		9,500		86,640
Regeneron Pharmaceuticals, Inc.*(a)		403		231,568
				392,737
Building Products - 0.1%
Janus International Group, Inc.*		5,620		78,680
Capital Markets - 1.5%
468 SPAC I SE, Class A (Germany)*(a)		12,986		150,965
BGC Partners, Inc., Class A		36,178		193,552
BlackRock, Inc.		172		149,153
Goldman Sachs Group, Inc. (The)(a)		478		179,193
Morgan Stanley(a)		3,767		361,557
Pegasus Acquisition Co. Europe BV (Netherlands)*(a)		8,130		95,478
				1,129,898
Chemicals - 0.6%
Atotech Ltd. (China)*		3,500		84,525
Ferro Corp.*		10,000		208,000
W R Grace & Co.(a)		2,800		194,880
				487,405
Commercial Services & Supplies - 0.9%
Clean Harbors, Inc.*(a)		7,068		671,460
Covanta Holding Corp.		1,000		20,100
				691,560
Communications Equipment - 0.1%
4L Holdings Corp.*(c)		3,790		190
EXFO, Inc. (Canada)*		9,500		54,245
				54,435
Construction & Engineering - 1.1%
Quanta Services, Inc.(a)		2,885		262,246
Valmont Industries, Inc.(a)		2,507		594,034
				856,280
Construction Materials - 0.3%
Forterra, Inc.*(a)		2,850		67,232
US Concrete, Inc.*		1,700		123,777
				191,009
Distributors - 1.0%
Core-Mark Holding Co., Inc.		800		34,432
LKQ Corp.*(a)		13,962		708,572
				743,004
Diversified Consumer Services - 0.4%
Regis Corp.*(a)		37,502		298,891
Diversified Financial Services - 0.3%
Equitable Holdings, Inc.(a)		6,358		196,271
Marlin Business Services Corp.		1,000		22,560
				218,831
Diversified Telecommunication Services - 0.5%
Cincinnati Bell, Inc.*(a)		12,800		196,352
ORBCOMM, Inc.*(a)		14,000		158,060
				354,412
Electric Utilities - 1.1%
PG&E Corp.*(a)		14,017		123,209
PNM Resources, Inc.(a)		14,500		700,785
				823,994
Electrical Equipment - 1.2%
EnerSys(a)		2,490		245,663
Sunrun, Inc.*(a)		12,217		647,135
				892,798
Electronic Equipment, Instruments & Components - 0.5%
Coherent, Inc.*(a)		1,400		344,316
Entertainment - 0.2%
DouYu International Holdings Ltd., ADR (China)*		1,500		6,045
Walt Disney Co. (The)*(a)		785		138,176
				144,221
Equity Real Estate Investment Trusts (REITs) - 0.8%
Columbia Property Trust, Inc.		400		6,668
QTS Realty Trust, Inc., Class A		5,200		404,092
VEREIT, Inc.		3,500		171,395
				582,155
Food & Staples Retailing - 0.2%
Cia Brasileira de Distribuicao, ADR (Brazil)		1,183		7,157
Magnit PJSC, GDR (Russia)(d)		1,164		17,012
Sendas Distribuidora SA, ADR (Brazil)		1,183		19,472
Wal-Mart de Mexico SAB de CV (Mexico)		13,629		44,928
X5 Retail Group NV, GDR (Russia)(d)		2,985		96,654
				185,223
Food Products - 0.6%
Nestle SA (Registered) (Switzerland)(a)		3,360		425,819

Health Care Equipment & Supplies - 1.2%
Envista Holdings Corp.*(a)		14,616		629,657
Soliton, Inc.*		1,900		41,667
Surgalign Holdings, Inc.*(a)		7,400		8,066

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont'd)

Investments	Shares	Value ($)
Wright Medical Group Escrow*(c)(e)	400	—
Zimmer Biomet Holdings, Inc.(a)	1,357	221,761
		901,151
Health Care Providers & Services - 0.7%
Anthem, Inc.	519	199,301
Cigna Corp.	678	155,594
Magellan Health, Inc.*(a)	1,700	160,344
Shanghai Pharmaceuticals Holding Co. Ltd., Class H (China)	9,303	19,825
Sinopharm Group Co. Ltd., Class H (China)	5,222	13,708
		548,772
Health Care Technology - 0.5%
Change Healthcare, Inc.*	17,900	388,609
Hotels, Restaurants & Leisure - 2.7%
BJ's Restaurants, Inc.*	7,945	322,408
Booking Holdings, Inc.*	298	649,122
Diamond Resorts International, Inc. Escrow*(c)(e)	13,800	—
Expedia Group, Inc.*(a)	1,684	270,905
Great Canadian Gaming Corp. (Canada)*(a)	10,400	369,285
Marriott Vacations Worldwide Corp.*(a)	1,944	286,487
Penn National Gaming, Inc.*(a)	1,621	110,844
		2,009,051
Household Durables - 0.8%
Skyline Champion Corp.*(a)	10,212	575,957
Industrial Conglomerates - 0.1%
Raven Industries, Inc.*	1,300	75,725
Smiths Group plc (United Kingdom)	1,394	30,140
		105,865
Insurance - 2.6%
AIA Group Ltd. (Hong Kong)(a)	21,655	259,431
Assurant, Inc.	1,816	286,583
Athene Holding Ltd., Class A*	2,700	174,474
Chubb Ltd.(a)	911	153,722
Lincoln National Corp.(a)	2,854	175,864
ProSight Global, Inc.*	3,400	43,384
Ryan Specialty Group Holdings, Inc., Class A*	5,035	148,533
State Auto Financial Corp.	600	30,000
Syncora Holdings Ltd.*	15,303	3,443
Willis Towers Watson plc(a)	3,400	700,672
		1,976,106
Interactive Media & Services - 2.5%
Actua Corp.*(c)(e)	6,700	335
Alphabet, Inc., Class A*(a)	216	582,019
Baidu, Inc., ADR (China)*	221	36,246
Baidu, Inc., Class A (China)*	310	6,311
Facebook, Inc., Class A*(a)	1,848	658,442
Mail.Ru Group Ltd., GDR (Russia)*(d)	928	19,247
Sogou, Inc., ADR (China)*	3,100	27,373
Sohu.com Ltd., ADR (China)*	4,300	85,441
Tencent Holdings Ltd. (China)(a)	4,622	284,892
Yandex NV, Class A (Russia)*	971	65,960
Zillow Group, Inc., Class C*(a)	1,128	119,861
		1,886,127
Internet & Direct Marketing Retail - 3.6%
Alibaba Group Holding Ltd., ADR (China)*	2,392	466,894
Alibaba Group Holding Ltd. (China)*	3,216	78,215
Altaba, Inc. Escrow*(c)	64,106	935,948
Amazon.com, Inc.*(a)	97	322,776
ASOS plc (United Kingdom)*(a)	333	17,617
Deliveroo plc (United Kingdom)*(d)	11,689	53,617
eBay, Inc.(a)	1,517	103,475
MercadoLibre, Inc. (Argentina)*(a)	167	261,973
Overstock.com, Inc.*(a)	4,693	326,821
Stamps.com, Inc.*	500	163,380
		2,730,716
IT Services - 2.1%
Fidelity National Information Services, Inc.(a)	1,561	232,667
Paya Holdings, Inc.*(a)	29,734	341,644
PayPal Holdings, Inc.*(a)	1,517	417,979
Repay Holdings Corp.*(a)	5,668	141,190
Sykes Enterprises, Inc.*	1,800	96,588
Visa, Inc., Class A(a)	1,304	321,292
		1,551,360
Leisure Products - 0.9%
Hayward Holdings, Inc.*(a)	29,119	701,477
Life Sciences Tools & Services - 1.1%
Eurofins Scientific SE (Luxembourg)(a)	1,400	167,470
Gerresheimer AG (Germany)	350	36,557
PPD, Inc.*(a)	10,600	488,872
Thermo Fisher Scientific, Inc.(a)	271	146,343
		839,242
Machinery - 1.0%
Lydall, Inc.*	1,500	91,800
Oshkosh Corp.	1,494	178,608
Rexnord Corp.	400	22,532
Welbilt, Inc.*(a)	5,900	138,591
Woodward, Inc.(a)	2,735	332,466
		763,997
Marine - 0.6%
Kirby Corp.*(a)	8,507	492,640
Media - 0.8%
Deluxe Television GmbH (Germany)*(c)	16,063	1,606
Discovery, Inc., Class C*(a)	903	24,480
Loral Space & Communications, Inc. (Canada)(a)	1,985	70,249
Meredith Corp.*	1,100	48,004
Shaw Communications, Inc., Class B (Canada)(a)	12,700	370,943
Stroeer SE & Co. KGaA (Germany)	724	57,285
Tribune Co. Litigation, Class 1C*(c)(e)	302,443	—
		572,567
Metals & Mining - 0.0%(b)
Artemis Gold, Inc. (Canada)*	605	3,031
Corvus Gold, Inc. (Canada)*	6,400	20,519
		23,550
Multiline Retail - 0.3%
Fix Price Group Ltd., GDR (Russia)*(d)	144	1,101

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont'd)

Investments	Shares	Value ($)
Nordstrom, Inc.*	7,974	263,939
		265,040
Oil, Gas & Consumable Fuels - 0.1%
Falcon Minerals Corp.(a)	3,400	16,218
Inter Pipeline Ltd. (Canada)	5,100	81,675
Southcross Energy Partners LP*	49,093	2,602
		100,495
Paper & Forest Products - 0.2%
Domtar Corp.*(a)	2,300	126,293
Personal Products - 0.5%
Estee Lauder Cos., Inc. (The), Class A(a)	544	181,604
Unilever plc (United Kingdom)(a)	4,085	235,459
		417,063
Pharmaceuticals - 1.3%
Aralez Pharmaceuticals, Inc. (Canada)*(c)	345	—
Bristol-Myers Squibb Co.	3,346	227,093
Dr Reddy's Laboratories Ltd., ADR (India)	899	56,233
Green Thumb Industries, Inc.*(a)	2,700	80,225
Hikma Pharmaceuticals plc (Jordan)(a)	2,266	83,342
Johnson & Johnson(a)	167	28,757
Roche Holding AG (Switzerland)(a)	1,237	478,427
Teva Pharmaceutical Industries Ltd., ADR (Israel)*(a)	513	4,951
		959,028
Professional Services - 2.1%
51job, Inc., ADR (China)*	600	43,212
Clarivate plc (United Kingdom)*	18,641	425,015
GP Strategies Corp.*	1,800	36,630
IHS Markit Ltd.(a)	5,250	613,410
Intertrust NV (Netherlands)*(a)(d)	20,181	333,241
SGS SA (Registered) (Switzerland)(a)	43	139,227
		1,590,735
Road & Rail - 0.8%
Kansas City Southern(a)	1,800	482,040
Lyft, Inc., Class A*(a)	2,338	129,338
		611,378
Semiconductors & Semiconductor Equipment - 2.3%
Enphase Energy, Inc.*(a)	801	151,869
Magnachip Semiconductor Corp. (South Korea)*(a)	4,000	83,120
Maxim Integrated Products, Inc.*(a)	5,400	539,514
QUALCOMM, Inc.(a)	1,531	229,344
SunEdison, Inc.*(c)(e)	16,689	—
Xilinx, Inc.(a)	4,800	719,232
		1,723,079
Software - 4.3%
Cloudera, Inc.*	15,350	243,604
Dye & Durham Ltd. (Canada)	800	30,247
Five9, Inc.*	900	181,161
Jamf Holding Corp.*(a)	4,205	137,966
Medallia, Inc.*	1,600	54,192
Microsoft Corp.(a)	760	216,532
Nuance Communications, Inc.*(a)	14,050	771,345
Proofpoint, Inc.*(a)	3,100	541,446
QAD, Inc., Class A	1,300	112,775
SAP SE (Germany)(a)	2,224	318,803
SharpSpring, Inc.*	1,300	22,087
Tenable Holdings, Inc.*(a)	15,274	653,727
		3,283,885
Specialty Retail - 0.7%
Frasers Group plc (United Kingdom)*(a)	9,144	76,706
Sportsman's Warehouse Holdings, Inc.*(a)	10,000	176,700
Toys R Us, Inc.*(c)	1,040	24,960
Ulta Beauty, Inc.*(a)	692	232,373
		510,739
Technology Hardware, Storage & Peripherals - 1.3%
Apple, Inc.(a)	4,603	671,394
Dell Technologies, Inc., Class C*(a)	1,600	154,592
Samsung Electronics Co. Ltd., GDR (South Korea)(a)(d)	107	183,665
		1,009,651
Textiles, Apparel & Luxury Goods - 2.3%
adidas AG (Germany)(a)	962	349,313
Capri Holdings Ltd.*	1,321	74,386
G-III Apparel Group Ltd.*(a)	21,385	638,556
Steven Madden Ltd.(a)	13,062	572,507
Tapestry, Inc.*(a)	2,172	91,876
		1,726,638
Thrifts & Mortgage Finance - 0.0%(b)
Flagstar Bancorp, Inc.	100	4,576
Trading Companies & Distributors - 0.6%
Brenntag SE (Germany)(a)	1,902	189,976
CAI International, Inc.	3,000	167,430
Fly Leasing Ltd., ADR (India)*	4,400	74,932
IMCD NV (Netherlands)	234	40,527
		472,865
Transportation Infrastructure - 0.2%
Macquarie Infrastructure Corp.(a)	3,100	122,450
Wireless Telecommunication Services - 0.3%
T-Mobile US, Inc.*(a)	1,355	195,147
TOTAL COMMON STOCKS (Cost $34,696,245)		40,127,004

Investments	No. of Rights	Value ($)

RIGHTS - 0.3%

Biotechnology - 0.2%
Achillion Pharmaceuticals, Inc., CVR*(c)	23,300	11,650
Alder Biopharmaceuticals, Inc., CVR*(c)	35,400	35,400
Ambit Biosciences Corp., CVR*(c)(e)	70,000	118,300
Clementia Pharmaceuticals, Inc., CVR (France)*(c)(e)	3,200	—
Phenomix Corp., CVR*(a)(c)(e)	13,900	10,425
Tobira Therapeutics, Inc., CVR*(c)(e)	6,900	—
		175,775
Media - 0.0%
Media General, Inc., CVR*(c)(e)	76,116	—

Metals & Mining - 0.1%
Pan American Silver Corp., CVR (Canada)*	39,600	32,868

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont'd)

Investments	No. of Rights	Value ($)

Pharmaceuticals - 0.0%(b)
Dova Pharmaceuticals, Inc., CVR (Sweden)*(c)	8,800	1,100
Elanco Animal Health, Inc., CVR*(c)	15,100	151
Omthera Pharmaceuticals, Inc., CVR (United Kingdom)*(c)(e)	100	—
		1,251
TOTAL RIGHTS (Cost $51,801)		209,894

Investments	No. of Warrants	Value ($)

WARRANTS - 0.2%

Capital Markets - 0.0%(b)
468 SPAC I SE, expiring 4/30/2026 (Germany)*	4,329	4,622
FinTech Acquisition Corp. III, expiring 12/1/2023*(e)	1,770	8,903
		13,525

Oil, Gas & Consumable Fuels - 0.2%
Southcross Energy Partners LP, expiring 12/31/2029*(c)	303,095	160,640

TOTAL WARRANTS (Cost $151,500)		174,165

Investments	Principal Amount ($)	Value ($)

CONVERTIBLE PREFERRED STOCKS - 0.2%

Auto Components - 0.1%
Garrett Motion, Inc. (Switzerland),
Series A, 11.00%, 4/30/2027 (f)	7,244	55,344

Diversified Telecommunication Services - 0.1%
Cincinnati Bell, Inc.,
Series B, 6.75%, 9/3/2021(f)	1,900	94,943

TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $124,748)		150,287

Investments	Shares	Value ($)

PREFERRED STOCKS - 0.1%

Media - 0.1%
Liberty Broadband Corp., Series A, 7.00%, 3/10/2039(f)
(Cost $35,613)	1,860	52,527

Investments	Principal Amount ($)	Value ($)

LOAN ASSIGNMENTS - 0.0%(b)

Media - 0.0%(b)
Deluxe Entertainment Services Group, Inc., 1st Lien Term Loan,
(ICE LIBOR USD 3 Month + 5.00%), 6.00%, 3/25/2024(c)(e)(g)	18,235	7,252
Deluxe Entertainment Services Group, Inc., 2nd Lien Term Loan,
(ICE LIBOR USD 3 Month + 6.00%), 7.00%, 9/25/2024(c)(g)	145,037	—
		7,252
Oil, Gas & Consumable Fuels - 0.0%(b)
Lealand Finance Co. BV, Term Loan,
(ICE LIBOR USD 1 Month + 3.00%), 3.09%, 6/28/2024(c)(g)	29,012	17,407

TOTAL LOAN ASSIGNMENTS (Cost $33,149)		24,659

Investments	Principal Amount ($)	Value ($)

CORPORATE BONDS - 0.0%

Independent Power and Renewable Electricity Producers - 0.0%
GenOn Energy, Inc. Escrow,
9.50%, 10/15/2018(c)(e)(h)	354,000	—
9.88%, 10/15/2020(c)(e)(h)	1,655,000	—
TOTAL CORPORATE BONDS (Cost $—)		—

Investments	Shares	Value ($)

SHORT-TERM INVESTMENTS - 35.7%

INVESTMENT COMPANIES - 35.7%
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio Institutional Class, 0.01%(a)(i) (Cost $26,920,142)	26,920,142	26,920,142
		—

TOTAL LONG POSITIONS (Cost $62,013,198)		67,658,678

Investments	Shares		Value ($)

SHORT POSITIONS - (10.0)%(j)

COMMON STOCKS - (10.0)%

Banks - (0.5)%
Banc of California, Inc.	(1,335	)	(22,855	)
Bank of Montreal (Canada)	(1,220	)	(120,797	)
Canadian Imperial Bank of Commerce (Canada)	(1,065	)	(123,838	)
First Citizens BancShares, Inc., Class A	(124	)	(97,041	)
			(364,531	)
Capital Markets - (1.1)%
Apollo Global Management, Inc.	(3,103	)	(182,642	)
S&P Global, Inc.	(1,487	)	(637,507	)
			(820,149	)

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont'd)

Investments	Shares		Value ($)

Chemicals - (0.3)%
International Flavors & Fragrances, Inc.	(1,450	)	(218,428	)
Consumer Finance - (0.6)%
Credit Acceptance Corp.*	(561	)	(271,956	)
World Acceptance Corp.*	(853	)	(161,703	)
			(433,659	)
Diversified Consumer Services - (1.1)%
Adtalem Global Education, Inc.*	(5,503	)	(199,979	)
Grand Canyon Education, Inc.*	(876	)	(80,916	)
Perdoceo Education Corp.*	(19,008	)	(225,435	)
Strategic Education, Inc.	(3,795	)	(300,906	)
			(807,236	)
Electrical Equipment - (0.2)%
Acuity Brands, Inc.	(729	)	(127,852	)
Regal Beloit Corp.	(85	)	(12,515	)
			(140,367	)
Electronic Equipment, Instruments & Components - (0.1)%
II-VI, Inc.*	(1,010	)	(70,508	)
Equity Real Estate Investment Trusts (REITs) - (1.2)%
AvalonBay Communities, Inc.	(538	)	(122,573	)
Digital Realty Trust, Inc.	(1,185	)	(182,680	)
Equinix, Inc.	(223	)	(182,951	)
Equity Residential	(1,581	)	(133,009	)
Realty Income Corp.	(2,469	)	(173,546	)
SL Green Realty Corp.	(1,548	)	(115,264	)
			(910,023	)
Food Products - (0.6)%
Campbell Soup Co.	(3,383	)	(147,905	)
J M Smucker Co. (The)	(1,459	)	(191,289	)
Kellogg Co.	(2,436	)	(154,345	)
			(493,539	)
Gas Utilities - (0.0)%(b)
Brookfield Infrastructure Corp., Class A (Canada)	(176	)	(11,413	)
Household Durables - (0.3)%
MDC Holdings, Inc.	(4,135	)	(220,478	)
Household Products - (0.4)%
Clorox Co. (The)	(913	)	(165,153	)
Colgate-Palmolive Co.	(1,865	)	(148,267	)
			(313,420	)
Industrial Conglomerates - (0.2)%
3M Co.	(869	)	(172,010	)
Insurance - (0.2)%
Trupanion, Inc.*	(1,518	)	(174,600	)
IT Services - (0.1)%
Western Union Co. (The)	(4,674	)	(108,483	)
Media - (0.3)%
Fox Corp., Class A	(3,163	)	(112,792	)
Omnicom Group, Inc.	(1,491	)	(108,575	)
			(221,367	)
Road & Rail - (0.2)%
Canadian National Railway Co. (Canada)	(452	)	(49,101	)
Canadian Pacific Railway Ltd. (Canada)	(1,015	)	(75,435	)
			(124,536	)
Semiconductors & Semiconductor Equipment - (2.0)%
Advanced Micro Devices, Inc.*	(8,752	)	(929,375	)
Analog Devices, Inc.	(3,402	)	(569,563	)
MKS Instruments, Inc.	(194	)	(30,349	)
			(1,529,287	)
Software - (0.6)%
Fair Isaac Corp.*	(282	)	(147,743	)
VMware, Inc., Class A*	(606	)	(93,166	)
Zoom Video Communications, Inc., Class A*	(498	)	(188,294	)
			(429,203	)
Thrifts & Mortgage Finance - (0.0)%(b)
New York Community Bancorp, Inc.	(402	)	(4,736	)
TOTAL COMMON STOCKS (Proceeds $(6,713,968))			(7,567,973	)

TOTAL SHORT POSITIONS (Proceeds $(6,713,968))			(7,567,973	)

Total Investments - 79.7% (Cost $55,299,230)			60,090,705
Other Assets Less Liabilities - 20.3%(k)			15,359,101
Net Assets - 100.0%			75,449,806

All bonds are denominated in US dollars, unless noted otherwise.

*	Non-income producing security.
(a)	All or a portion of this security is segregated in connection with obligations for futures, swaps, and/or forward foreign currency contracts with a total value of $53,869,295.
(b)	Represents less than 0.05% of net assets of the Fund.
(c)	Value determined using significant unobservable inputs.
(d)	Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve directed selling efforts in the United States and as such may have restrictions on resale. At July 31, 2021, the total value of these securities amounted to $704,537, which represents 0.9% of net assets of the Fund.
(e)	Security fair valued as of July 31, 2021, in accordance with procedures approved by the Board of Trustees. Total value of all such securities at July 31, 2021, amounted to $145,215, which represents 0.2% of net assets of the Fund.
(f)	Perpetual security. The rate reflected was the rate in effect on July 31, 2021. The maturity date reflects the next call date.
(g)	Variable or floating rate security. The interest rate shown was the current rate as of July 31, 2021, and changes periodically.
(h)	Defaulted security.
(i)	Represents 7-day effective yield as of July 31, 2021.
(j)	At July 31, 2021, the Fund had $8,989,055 deposited in one or more accounts to satisfy collateral requirements for borrowing in connection with securities sold short.
(k)	Includes the impact of the Fund’s open positions in derivatives at July 31, 2021.

Abbreviations
ADR	American Depositary Receipt
CVR	Contingent Value Rights
GDR	Global Depositary Receipt
ICE	Intercontinental Exchange
LIBOR	London Interbank Offered Rate
PJSC	Public Joint Stock Company
SA	Société Anonyme
SPAC	Special Purpose Acquisition Company
USD	United States Dollar

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont'd)

LONG POSITIONS BY COUNTRY

Country	Investments at Value			Percentage of Net Assets
United States	$	33,312,568			44.2	%
China		1,152,687			1.5	%
Germany		1,109,127			1.5	%
Switzerland		1,103,339			1.5	%
Canada		1,033,062			1.4	%
United Kingdom		838,554			1.1	%
Netherlands		469,246			0.6	%
South Korea		266,785			0.4	%
Argentina		261,973			0.3	%
Hong Kong		259,431			0.3	%
Mexico		242,604			0.3	%
Russia		199,974			0.3	%
Luxembourg		167,470			0.2	%
India		131,165			0.2	%
Jordan		83,342			0.1	%
Spain		74,529			0.1	%
Brazil		26,629			0.0	%(a)
Israel		4,951			0.0	%(a)
Sweden		1,100			0.0	%(a)
Short-Term Investments and Other Assets-Net		42,279,243			56.0	%
Short Positions (See summary below)		(7,567,973	)		(10.0	)%
	$	75,449,806			100.0	%

SHORT POSITIONS BY COUNTRY

Country	Investments at Value			Percentage of Net Assets
United States	$	(7,187,389	)		(9.5	)%
Canada		(380,584	)		(0.5	)%
Total Short Positions	$	(7,567,973	)		(10.0	)%

(a)	Represents less than 0.05% of net assets of the Fund.

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Derivative Instruments

Futures contracts ("futures")

At July 31, 2021, open positions in futures for the Fund were as follows:

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation/ (Depreciation)

Long Contracts
Amsterdam Exchange Index		2	8/2021	$	356,463	$	5,063
Brent Crude Oil		5	8/2021		377,050		15,514
CAC 40 10 Euro Index		2	8/2021		156,810		6,159
Lean Hogs		2	8/2021		84,960		565
Low Sulphur Gasoil		6	8/2021		367,950		2,967
MSCI Singapore Index		3	8/2021		79,896		1,052
Natural Gas		11	8/2021		430,540		25,868
NY Harbor ULSD		4	8/2021		368,861		19,486
OMXS30 Index		7	8/2021		192,739		2,168
RBOB Gasoline		4	8/2021		392,230		24,659
SGX FTSE Taiwan Index		1	8/2021		59,770		(21	)
SGX NIFTY 50 Index		2	8/2021		63,096		(503	)
WTI Crude Oil		5	8/2021		369,750		(2,090	)
Australia 10 Year Bond		4	9/2021		426,800		1,109
Australia 3 Year Bond		60	9/2021		5,154,982		9,058
Brent Crude Oil		2	9/2021		149,180		4,007
Canada 10 Year Bond		3	9/2021		355,907		1,166
Coffee 'C'		2	9/2021		134,663		3,857
Copper		2	9/2021		224,125		9,021
Corn		2	9/2021		54,700		820
EURO STOXX 50 Index		3	9/2021		145,482		3,228
Euro-Bobl		57	9/2021		9,152,536		45,293
Euro-BTP		9	9/2021		1,647,132		14,092
Euro-Bund		17	9/2021		3,560,755		31,522
Euro-Buxl		1	9/2021		255,091		2,958
Euro-OAT		6	9/2021		1,153,604		11,030
Euro-Schatz		114	9/2021		15,194,048		7,475
FCOJ-A		1	9/2021		19,942		815
Foreign Exchange USD/SEK		1	9/2021		99,962		4,212
FTSE 100 Index		1	9/2021		96,834		2,242
FTSE/JSE Top 40 Index		2	9/2021		85,107		580
Japan 10 Year Bond		4	9/2021		5,553,074		15,069
KC HRW Wheat		1	9/2021		33,663		785
Long Gilt		2	9/2021		360,816		20
Milling Wheat No. 2		3	9/2021		39,725		2,689
NASDAQ 100 E-Mini Index		2	9/2021		598,230		19,931
Nikkei 225 Index		1	9/2021		137,350		(8,378	)
Palladium		1	9/2021		265,620		(19,233	)
Robusta Coffee		2	9/2021		35,720		(2,180	)
S&P 500 E-Mini Index		2	9/2021		438,950		5,697
Sugar No. 11		16	9/2021		320,947		7,439
TOPIX Index		1	9/2021		173,648		(5,507	)
U.S. Treasury 2 Year Note		20	9/2021		4,413,125		1,148
U.S. Treasury 5 Year Note		9	9/2021		1,120,008		(456	)
U.S. Treasury 10 Year Note		6	9/2021		806,719		4,133
U.S. Treasury Long Bond		1	9/2021		164,719		6,749
U.S. Treasury Ultra Bond		1	9/2021		199,531		(1,876	)
Wheat		1	9/2021		35,187		(27	)
Brent Crude Oil		3	10/2021		221,400		9,996
Lean Hogs		2	10/2021		70,420		(3,305	)
Platinum		1	10/2021		52,420		(2,053	)
Rapeseed		5	10/2021		154,954		727
Canola		11	11/2021		148,512		(7,113	)
Soybean		1	11/2021		67,462		(1,328	)
WTI Crude Oil		1	11/2021		71,570		3,768
100 oz Gold		1	12/2021		181,720		768
Cotton No. 2		5	12/2021		223,475		3,772

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Description	Number of Contracts	Expiration Date		Notional Amount		Value and Unrealized Appreciation/ (Depreciation)
Milling Wheat No. 2	1	12/2021	$	13,375	$	473
Soybean Oil	4	12/2021		151,296		6,560
3 Month Canadian Bankers Acceptance	13	3/2022		2,590,414		34
3 Month Euro Euribor	13	6/2022		3,875,746		373
3 Month Euro Euribor	13	12/2022		3,874,396		403
3 Month Eurodollar	6	12/2022		1,494,000		339
3 Month Eurodollar	5	6/2023		1,242,562		129
3 Month Euro Euribor	25	12/2023		7,444,460		2,881
3 Month Eurodollar	5	12/2023		1,238,688		16
3 Month Sterling	2	12/2023		345,293		(19	)
3 Month Eurodollar	8	12/2024		1,974,800		1,648
Total Long Contracts			$	81,344,960	$	297,444

Description	Number of Contracts		Expiration Date		Notional Amount			Value and Unrealized Appreciation/ (Depreciation)

Short Contracts
SGX FTSE China A50 Index	(1	)	8/2021	$	(14,974	)	$	484
Canada 10 Year Bond	(5	)	9/2021		(593,179	)		(11,775	)
CBOE Volatility Index	(3	)	9/2021		(66,225	)		(191	)
Cocoa	(2	)	9/2021		(47,320	)		(625	)
Foreign Exchange AUD/USD	(78	)	9/2021		(5,722,080	)		299,091
Foreign Exchange CAD/USD	(10	)	9/2021		(801,300	)		10,119
Foreign Exchange CHF/USD	(1	)	9/2021		(138,075	)		1,979
Foreign Exchange EUR/USD	(53	)	9/2021		(7,861,225	)		204,067
Foreign Exchange GBP/USD	(2	)	9/2021		(173,662	)		3,621
Foreign Exchange JPY/USD	(2	)	9/2021		(227,838	)		(287	)
Foreign Exchange MXN/USD	(6	)	9/2021		(149,910	)		1,128
Foreign Exchange NZD/USD	(1	)	9/2021		(69,620	)		2,358
Foreign Exchange ZAR/USD	(5	)	9/2021		(170,000	)		9,813
Nikkei 225 Mini Index	(2	)	9/2021		(49,861	)		989
S&P 500 E-Mini Index	(5	)	9/2021		(1,097,375	)		(36,000	)
U.S. Treasury 10 Year Note	(4	)	9/2021		(537,812	)		(10,883	)
3 Month Sterling	(87	)	3/2022		(15,077,704	)		(3,440	)
3 Month Canadian Bankers Acceptance	(2	)	6/2022		(397,804	)		(23	)
3 Month Sterling	(65	)	6/2022		(11,254,787	)		(619	)
3 Month Sterling	(36	)	12/2022		(6,225,914	)		143
3 Month Sterling	(30	)	6/2023		(5,183,831	)		(89	)
Total Short Contracts				$	(55,860,496	)	$	469,860
Total Futures							$	767,304

At July 31, 2021, the Fund had $1,274,020 deposited in segregated accounts to cover margin requirements on open futures.

Forward foreign currency contracts ("forward contracts")

At July 31, 2021, open forward contracts for the Fund were as follows:

Currency Purchased		Currency Sold		Counterparty	Settlement Date	Unrealized Appreciation/ (Depreciation)
USD	725,473	HKD	5,635,401	JPM	8/20/2021	$	277
USD	108,901	CAD	135,000	JPM	9/1/2021		697
CAD	90,000	USD	72,001	JPM	9/15/2021		137
CAD	130,000	USD	103,562	SG	9/15/2021		637
CHF	740,000	USD	811,846	SG	9/15/2021		5,993
EUR	1,492,950	PLN	6,760,000	SG	9/15/2021		17,591
EUR	10,000	USD	11,872	JPM	9/15/2021		1
EUR	600,000	USD	709,552	SG	9/15/2021		2,819

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Currency Purchased		Currency Sold		Counterparty	Settlement Date	Unrealized Appreciation/ (Depreciation)
GBP	10,000	USD	13,895	JPM	9/15/2021	$	7
GBP	230,000	USD	318,300	SG	9/15/2021		1,436
HUF	670,000	USD	2,200	SG	9/15/2021		14
INR**	33,780,000	USD	451,258	SG	9/15/2021		677
JPY	13,336,247	AUD	160,000	JPM	9/15/2021		4,164
JPY	234,281,847	AUD	2,810,000	SG	9/15/2021		73,714
JPY	4,050,000	USD	36,641	JPM	9/15/2021		289
JPY	67,340,000	USD	611,804	SG	9/15/2021		2,236
NOK	80,000	USD	8,829	SG	9/15/2021		227
PHP**	4,220,000	USD	83,670	SG	9/15/2021		584
PLN	220,000	EUR	48,071	SG	9/15/2021		41
PLN	260,000	USD	66,862	SG	9/15/2021		638
SEK	310,000	USD	35,913	SG	9/15/2021		110
SGD	330,000	USD	241,382	SG	9/15/2021		2,155
THB	1,000,000	USD	30,370	SG	9/15/2021		48
TRY	434,676	EUR	40,000	JPM	9/15/2021		2,944
TRY	6,649,641	EUR	630,000	SG	9/15/2021		23,572
TRY	230,000	USD	26,359	JPM	9/15/2021		329
TRY	5,060,000	USD	573,403	SG	9/15/2021		13,708
USD	30,002	AUD	40,000	JPM	9/15/2021		642
USD	1,278,429	AUD	1,690,000	SG	9/15/2021		37,942
USD	219,103	BRL**	1,130,000	SG	9/15/2021		3,418
USD	122,763	CAD	150,000	JPM	9/15/2021		2,533
USD	551,667	CAD	680,000	SG	9/15/2021		6,631
USD	267,587	CHF	240,000	JPM	9/15/2021		2,340
USD	412,599	CHF	370,000	SG	9/15/2021		3,680
USD	294,088	CLP**	217,020,000	SG	9/15/2021		8,483
USD	891,146	EUR	740,000	JPM	9/15/2021		12,555
USD	1,171,229	EUR	970,000	SG	9/15/2021		19,560
USD	572,258	GBP	410,000	JPM	9/15/2021		2,296
USD	407,259	GBP	290,000	SG	9/15/2021		4,115
USD	718,522	HUF	212,400,000	SG	9/15/2021		16,762
USD	653,696	INR**	48,550,000	SG	9/15/2021		4,152
USD	1,363,076	JPY	149,150,000	SG	9/15/2021		3,057
USD	1,177,451	KRW**	1,333,990,000	SG	9/15/2021		21,316
USD	39,286	NOK	340,000	JPM	9/15/2021		797
USD	1,145,395	NOK	9,790,000	SG	9/15/2021		37,142
USD	479,678	NZD	680,000	SG	9/15/2021		6,010
USD	1,151,128	PHP**	56,520,000	SG	9/15/2021		22,683
USD	23,584	PLN	90,000	JPM	9/15/2021		219
USD	878,577	PLN	3,300,000	SG	9/15/2021		21,865
USD	118,670	SEK	990,000	JPM	9/15/2021		3,626
USD	907,073	SEK	7,740,000	SG	9/15/2021		7,639
USD	425,746	SGD	570,000	JPM	9/15/2021		5,092
USD	2,120,476	SGD	2,850,000	SG	9/15/2021		17,205
USD	1,297,334	THB	40,980,000	SG	9/15/2021		50,803
USD	61,045	ZAR	860,000	JPM	9/15/2021		2,675
USD	359,565	ZAR	5,180,000	SG	9/15/2021		7,984
ZAR	470,000	USD	31,878	SG	9/15/2021		23
ILS	5,330,000	USD	1,642,228	SG	9/17/2021		7,213
MXN	11,890,000	USD	589,759	SG	9/17/2021		3,821
CAD	11,948	USD	9,576	JPM	10/1/2021		1
USD	861,864	CAD	1,063,973	JPM	10/1/2021		9,049
Total unrealized appreciation						$	508,374

Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation/ (Depreciation)
USD	1,024,224	CHF	934,673	JPM	8/20/2021	$	(8,050	)
USD	2,233,976	EUR	1,886,735	JPM	8/20/2021		(4,917	)
USD	341,637	GBP	246,189	JPM	8/20/2021		(579	)
USD	4,172	SEK	36,030	JPM	8/20/2021		(14	)
CAD	441,754	USD	364,654	JPM	9/1/2021		(10,582	)
AUD	310,000	JPY	26,227,965	JPM	9/15/2021		(11,614	)
AUD	2,350,000	JPY	198,027,566	SG	9/15/2021		(80,778	)

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation/ (Depreciation)
AUD	1,110,000	USD	850,157	SG	9/15/2021	$	(35,406	)
BRL**	3,810,000	USD	745,896	SG	9/15/2021		(18,680	)
CAD	260,000	USD	211,821	JPM	9/15/2021		(3,426	)
CAD	2,520,000	USD	2,078,984	SG	9/15/2021		(59,143	)
CHF	40,000	USD	44,818	JPM	9/15/2021		(611	)
CHF	1,380,000	USD	1,536,001	SG	9/15/2021		(10,842	)
CLP**	135,420,000	USD	187,637	SG	9/15/2021		(9,422	)
EUR	228,968	PLN	1,050,000	SG	9/15/2021		(740	)
EUR	30,000	TRY	323,561	JPM	9/15/2021		(1,925	)
EUR	580,000	TRY	6,351,279	SG	9/15/2021		(48,314	)
EUR	120,000	USD	144,864	JPM	9/15/2021		(2,390	)
EUR	1,650,000	USD	1,998,615	SG	9/15/2021		(39,594	)
GBP	40,000	USD	56,429	JPM	9/15/2021		(823	)
GBP	2,040,000	USD	2,872,826	SG	9/15/2021		(36,915	)
HUF	227,180,000	USD	792,307	SG	9/15/2021		(41,716	)
INR**	144,740,000	USD	1,958,461	SG	9/15/2021		(22,014	)
JPY	1,607,774	AUD	20,000	SG	9/15/2021		(20	)
JPY	11,480,000	USD	104,976	JPM	9/15/2021		(297	)
JPY	41,920,000	USD	382,960	SG	9/15/2021		(714	)
KRW**	1,056,320,000	USD	943,409	SG	9/15/2021		(27,924	)
NOK	170,000	USD	20,386	JPM	9/15/2021		(1,141	)
NOK	8,500,000	USD	1,022,101	SG	9/15/2021		(59,881	)
NZD	850,000	USD	603,651	SG	9/15/2021		(11,562	)
PHP**	50,210,000	USD	1,038,996	SG	9/15/2021		(36,534	)
PLN	4,360,000	EUR	972,098	SG	9/15/2021		(22,257	)
PLN	3,160,000	USD	857,301	SG	9/15/2021		(36,932	)
SEK	60,000	USD	7,086	JPM	9/15/2021		(114	)
SEK	8,690,000	USD	1,045,082	SG	9/15/2021		(35,249	)
SGD	2,550,000	USD	1,918,527	SG	9/15/2021		(36,649	)
THB	12,670,000	USD	396,418	SG	9/15/2021		(11,021	)
TRY	102,248	EUR	10,000	SG	9/15/2021		(9	)
TRY	300,000	USD	34,888	SG	9/15/2021		(79	)
USD	29,323	AUD	40,000	SG	9/15/2021		(38	)
USD	96,276	BRL**	510,000	SG	9/15/2021		(1,069	)
USD	79,869	CAD	100,000	JPM	9/15/2021		(284	)
USD	1,680,433	CAD	2,110,000	SG	9/15/2021		(10,783	)
USD	65,446	CHF	60,000	JPM	9/15/2021		(865	)
USD	1,797,656	CHF	1,650,000	SG	9/15/2021		(25,908	)
USD	330,146	CLP**	251,870,000	SG	9/15/2021		(1,322	)
USD	23,664	EUR	20,000	JPM	9/15/2021		(82	)
USD	992,806	EUR	840,000	SG	9/15/2021		(4,512	)
USD	401,085	GBP	290,000	JPM	9/15/2021		(2,060	)
USD	993,106	GBP	720,000	SG	9/15/2021		(7,799	)
USD	537,797	HUF	164,110,000	SG	9/15/2021		(4,416	)
USD	1,158,385	INR**	86,960,000	SG	9/15/2021		(5,034	)
USD	204,139	JPY	22,560,000	JPM	9/15/2021		(1,575	)
USD	864,228	JPY	95,340,000	SG	9/15/2021		(5,125	)
USD	23,694	KRW**	27,370,000	SG	9/15/2021		(28	)
USD	83,174	NOK	740,000	SG	9/15/2021		(595	)
USD	229,313	NZD	330,000	SG	9/15/2021		(556	)
USD	672,122	PHP**	34,070,000	SG	9/15/2021		(8,099	)
USD	7,737	PLN	30,000	JPM	9/15/2021		(51	)
USD	582,529	PLN	2,270,000	SG	9/15/2021		(6,785	)
USD	202,948	SEK	1,760,000	SG	9/15/2021		(1,577	)
USD	249,832	SGD	340,000	SG	9/15/2021		(1,085	)
USD	45,543	THB	1,500,000	SG	9/15/2021		(84	)
USD	72,310	TRY	660,000	JPM	9/15/2021		(4,271	)
USD	527,869	TRY	4,780,000	SG	9/15/2021		(26,754	)
USD	5,356	ZAR	80,000	JPM	9/15/2021		(73	)
USD	313,328	ZAR	4,650,000	SG	9/15/2021		(2,277	)
ZAR	1,520,000	USD	105,912	JPM	9/15/2021		(2,745	)
ZAR	8,870,000	USD	641,766	SG	9/15/2021		(39,735	)
ILS	900,000	USD	278,725	SG	9/17/2021		(208	)
MXN	34,260,000	USD	1,713,166	SG	9/17/2021		(2,818	)
USD	1,166,838	ILS	3,810,000	SG	9/17/2021		(12,218	)

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation/ (Depreciation)
USD	207,246	MXN	4,180,000	JPM	9/17/2021	$	(1,431	)
USD	1,278,495	MXN	26,210,000	SG	9/17/2021		(29,975	)
USD	44,057	CAD	55,293	JPM	10/1/2021		(262	)
Total unrealized depreciation						$	(941,377	)
Net unrealized depreciation						$	(433,003	)

** Non-deliverable forward.

Equity swap contracts ("equity swaps")

At July 31, 2021, the Fund had outstanding equity swaps as follows:

Over the counter equity swaps — Long(a)

Counterparty	Reference Entity	Notional Amount		Maturity Date	Variable-Rate(b)	Spread	Reference Rate	Frequency of Fund Receipt/ Payment	Value and Unrealized Appreciation/ (Depreciation)
JPM	Adapteo OYJ	SEK	215,586	5/19/2022	0.59%	0.65%	1M STIBOR	T/1M	$	216
JPM	Aggreko plc	GBP	102,351	3/29/2022	0.45%	0.40%	1M GBP LIBOR	T/1M		(698	)
JPM	Akka Technologies	EUR	14,695	8/2/2022	0.09%	0.65%	1M EURIBOR	T/1M		28
JPM	American International Group, Inc.	USD	427,428	8/3/2021	0.49%	0.40%	1M USD LIBOR	T/1M		28,201
JPM	Ampol Ltd.	AUD	25,284	1/25/2022	0.66%	0.65%	1M AUD BBSW	T/1M		(1,726	)
MS	Amundi SA	EUR	363,014	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		90,952
MS	Anima Holding SpA	EUR	354,091	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		(13,309	)
JPM	Arrow Global Group plc	GBP	13,952	4/6/2022	0.45%	0.40%	1M GBP LIBOR	T/1M		12
JPM	Ashland Global Holdings, Inc.	USD	240,918	2/22/2022	0.49%	0.40%	1M USD LIBOR	T/1M		(4,088	)
MS	Aspen Pharmacare Holdings Ltd.	USD	23,712	12/9/2021	0.89%	0.80%	1M USD LIBOR	T/1M		7,756
JPM	Atrium European Real Estate Ltd.	EUR	59,798	7/27/2022	(0.16)% - 0.09%	0.40% - 0.65%	1M EURIBOR	T/1M		2
JPM	Avantor, Inc.	USD	431,644	10/26/2021	0.49%	0.40%	1M USD LIBOR	T/1M		118,372
JPM	Avast plc	GBP	13,009	7/22/2022	0.45%	0.40%	1M GBP LIBOR	T/1M		(77	)
JPM	Bank Norwegian ASA	NOK	405,225	7/25/2022	0.79%	0.65%	1M NIBOR	T/1M		1,777
MS	Brenntag SE	EUR	251,000	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		90,875
MS	Bureau Veritas SA	EUR	317,181	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		102,643
JPM	Canadian National Railway Co.	USD	473,192	11/17/2021	0.49%	0.40%	1M USD LIBOR	T/1M		(7,175	)
JPM	CapitaLand Ltd.	SGD	40,356	4/19/2022	1.02%	0.75%	1M SIBOR	T/1M		2,392
JPM	Cerved Group SpA	EUR	75,191	3/24/2022	0.09%	0.65%	1M EURIBOR	T/1M		4,179
JPM	ChampionX Corp.	USD	510,885	2/22/2022	0.49%	0.40%	1M USD LIBOR	T/1M		91,287
MS	Croda International plc	GBP	21,976	12/2/2021	0.69%	0.64%	1D SONIA	T/1M		14,012
JPM	Crown Resorts Ltd.	AUD	20,716	7/4/2022	0.66%	0.65%	1M AUD BBSW	T/1M		(5,732	)
JPM	Daily Mail & General Trust plc	GBP	8,308	7/14/2022	0.45%	0.40%	1M GBP LIBOR	T/1M		211
JPM	Danaher Corp.	USD	324,264	6/22/2022	0.49%	0.40%	1M USD LIBOR	T/1M		44,167
MS	Danone SA	EUR	594,411	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		(53,128	)
JPM	Deutsche Wohnen SE	EUR	420,594	5/27/2022	0.09%	0.65%	1M EURIBOR	T/1M		6,000
JPM	Dialog Semiconductor plc	EUR	426,907	2/10/2022	0.09%	0.65%	1M EURIBOR	T/1M		3,600
JPM	Eagle Materials, Inc.	USD	444,169	6/30/2022	0.49%	0.40%	1M USD LIBOR	T/1M		(149	)
JPM	Electricite de France SA	EUR	29,481	6/22/2022	0.09%	0.65%	1M EURIBOR	T/1M		(4,040	)
MS	Elis SA	EUR	55,339	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		(1,045	)
MS	Eurofins Scientific SE	EUR	54,151	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		34,955
JPM	Euskaltel SA	EUR	71,547	3/31/2022	0.09%	0.65%	1M EURIBOR	T/1M		(980	)
JPM	Gamesys Group plc	GBP	172,506	3/31/2022	0.45%	0.40%	1M GBP LIBOR	T/1M		647
MS	Gerresheimer AG	EUR	71,497	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		21,396
MS	HeidelbergCement AG	EUR	179,023	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		16,467
MS	Hermes International	EUR	48,982	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		27,728
MS	Holcim Ltd.	CHF	156,911	12/9/2021	(0.17)%	0.56%	1D SARON	T/1M		8,989
MS	Hypera SA	USD	29,372	12/7/2021	0.74%	0.65%	1M USD LIBOR	T/1M		(4,194	)
MS	ITV plc	GBP	86,911	12/2/2021	0.69%	0.64%	1D SONIA	T/1M		1,226
JPM	John Laing Group plc	GBP	131,512	6/14/2022	0.45%	0.40%	1M GBP LIBOR	T/1M		440

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Counterparty	Reference Entity	Notional Amount		Maturity Date	Variable-Rate(b)	Spread	Reference Rate	Frequency of Fund Receipt/ Payment	Value and Unrealized Appreciation/ (Depreciation)
MS	Kering SA	EUR	330,459	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M	$	139,335
MS	LVMH Moet Hennessy Louis Vuitton SE	EUR	54,586	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		22,432
JPM	Microsoft Corp.	USD	373,802	12/17/2021	0.49%	0.40%	1M USD LIBOR	T/1M		81,311
MS	Migros Ticaret A/S	USD	22,032	9/15/2021	1.49%	1.40%	1M USD LIBOR	T/1M		(1,893	)
JPM	Naturgy Energy Group SA	EUR	22,487	2/4/2022	0.09%	0.65%	1M EURIBOR	T/1M		765
MS	NAVER Corp.	USD	120,600	10/15/2021	1.49%	1.40%	1M USD LIBOR	T/1M		33,406
JPM	Neles OYJ	EUR	127,140	7/8/2022	0.09%	0.65%	1M EURIBOR	T/1M		(4,754	)
MS	Nestle SA (Registered)	CHF	142,122	12/9/2021	(0.19)%	0.54%	1D SARON	T/1M		20,271
JPM	NextEra Energy, Inc.	USD	582,069	1/4/2022	0.49%	0.40%	1M USD LIBOR	T/1M		10,523
JPM	Norway Royal Salmon ASA	NOK	113,610	7/21/2022	0.79%	0.65%	1M NIBOR	T/1M		78
JPM	Orange Belgium SA	EUR	20,240	12/9/2021	(0.16)% - (0.06)%	0.40% - 0.50%	1M EURIBOR	T/1M		(1,972	)
JPM	Primo Water Corp.	USD	274,977	2/16/2022	0.49%	0.40%	1M USD LIBOR	T/1M		(11,350	)
MS	Publicis Groupe SA	EUR	59,287	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		4,835
JPM	QUALCOMM, Inc.	USD	300,199	12/17/2021	0.49%	0.40%	1M USD LIBOR	T/1M		7,970
JPM	RH	USD	193,911	12/15/2021	0.49%	0.40%	1M USD LIBOR	T/1M		55,770
JPM	Rhipe Ltd.	AUD	74,018	7/15/2022	0.66%	0.65%	1M AUD BBSW	T/1M		346
MS	Ryanair Holdings plc	EUR	72,002	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		31,793
JPM	S IMMO AG	EUR	9,447	4/7/2022	(0.16)%	0.40%	1M EURIBOR	T/1M		(763	)
MS	SAP SE	EUR	305,000	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		34,035
JPM	Sbanken ASA	NOK	928,265	4/19/2022	0.79%	0.65%	1M NIBOR	T/1M		3,548
JPM	Siltronic AG	EUR	135,261	3/1/2022	0.09%	0.65%	1M EURIBOR	T/1M		2,533
MS	Smith & Nephew plc	GBP	379,842	12/2/2021	0.69%	0.64%	1D SONIA	T/1M		3,206
JPM	Societe Fonciere Lyonnaise SA	EUR	20,520	6/15/2022	0.09%	0.65%	1M EURIBOR	T/1M		(232	)
JPM	SOHO China Ltd.	HKD	221,521	6/23/2022	0.48%	0.40%	1M HIBOR	T/1M		(14,902	)
JPM	Solarpack Corp. Tecnologica SA	EUR	41,709	6/20/2022	0.09%	0.65%	1M EURIBOR	T/1M		(50	)
JPM	Spire Healthcare Group plc	GBP	24,231	6/20/2022	0.45%	0.40%	1M GBP LIBOR	T/1M		(3,317	)
JPM	State Street Corp.	USD	506,283	7/1/2022	0.49%	0.40%	1M USD LIBOR	T/1M		28,527
MS	Stroeer SE & Co. KGaA	EUR	48,291	12/9/2021	0.04%	0.60%	1M EURIBOR	T/1M		(9,703	)
JPM	Suez SA	EUR	416,571	9/2/2021	0.09%	0.65%	1M EURIBOR	T/1M		41,820
JPM	Sumo Group plc	GBP	27,530	7/21/2022	0.45%	0.40%	1M GBP LIBOR	T/1M		(1,167	)
JPM	Toshiba Corp.	JPY	1,236,100	4/25/2022	0.32%	0.40%	1M JPY LIBOR	T/1M		1,258
JPM	UDG Healthcare plc	GBP	61,241	5/16/2022	0.80%	0.75%	1M GBP LIBOR	T/1M		3,276
JPM	Vectura Group plc	GBP	53,784	6/23/2022	0.45%	0.40%	1M GBP LIBOR	T/1M		5,999
JPM	Walt Disney Co. (The)	USD	435,473	4/18/2022	0.49%	0.40%	1M USD LIBOR	T/1M		(27,941	)
JPM	Webster Financial Corp.	USD	337,229	6/14/2022	0.49%	0.40%	1M USD LIBOR	T/1M		(61,767	)
JPM	Wm Morrison Supermarkets plc	GBP	14,255	7/12/2022	0.45%	0.40%	1M GBP LIBOR	T/1M		104
Total Long Positions of equity swaps									$	1,015,519

Over the counter equity swaps — Short(c)

Counterparty	Reference Entity	Notional Amount			Maturity Date	Variable-Rate(b)	Spread	Reference Rate	Frequency of Fund Receipt/ Payment	Value and Unrealized Appreciation/ (Depreciation)
JPM	3D Systems Corp.	USD	(195,286	)	3/10/2022	(0.31)%	(0.40)%	1M USD LIBOR	1M/T	$	(27,193	)
JPM	Acuity Brands, Inc.	USD	(265,350	)	6/15/2022	(0.31)%	(0.40)%	1M USD LIBOR	1M/T		9,726
JPM	Adtalem Global Education, Inc.	USD	(122,829	)	5/10/2022	(0.31)%	(0.40)%	1M USD LIBOR	1M/T		(4,104	)
MS	Air Liquide SA	EUR	(229,544	)	12/9/2021	(0.84)%	(0.35)%	1D EONIA	1M/T		(30,017	)
MS	Allianz SE (Registered)	EUR	(204,960	)	12/9/2021	(0.84)%	(0.35)%	1D EONIA	1M/T		(5,563	)
MS	Anheuser-Busch InBev SA/NV	EUR	(117,587	)	12/9/2021	(0.89)%	(0.40)%	1D EONIA	1M/T		6,054
JPM	AppLovin Corp.	USD	(78,989	)	7/29/2022	(2.74)%	(2.83)%	1M USD LIBOR	1M/T		2,445
JPM	AT&T, Inc.	USD	(255,003	)	2/24/2022	(0.31)%	(0.40)%	1M USD LIBOR	1M/T		12,076
JPM	Avangrid, Inc.	USD	(92,548	)	3/9/2022	(0.31)%	(0.40)%	1M USD LIBOR	1M/T		(8,449	)
MS	AXA SA	EUR	(109,444	)	12/9/2021	(0.84)%	(0.35)%	1D EONIA	1M/T		947
JPM	B&G Foods, Inc.	USD	(162,613	)	9/23/2021	(4.96)% - (4.34)%	(5.05)% - (4.43)%	1M USD LIBOR	1M/T		4,223
MS	BASF SE	EUR	(139,790	)	12/9/2021	(0.84)%	(0.35)%	1D EONIA	1M/T		(11,446	)

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Counterparty	Reference Entity	Notional Amount			Maturity Date	Variable- Rate(b)		Spread		Reference Rate	Frequency of Fund Receipt/ Payment	Value and Unrealized Appreciation/ (Depreciation)
MS	Bayerische Motoren Werke AG	EUR	(119,445	)	12/9/2021	(0.84	)%	(0.35	)%	1D EONIA	1M/T	$	(24,501	)
JPM	Beachbody Co., Inc. (The)	USD	(96,400	)	4/19/2022	(1.97	)%	(2.06	)%	1M USD LIBOR	1M/T		9,898
JPM	Beyond Meat, Inc.	USD	(216,443	)	1/11/2022	(0.71) (0.31)	%- %	(0.80) (0.40)	%- %	1M USD LIBOR	1M/T		25,875
JPM	Blink Charging Co.	USD	(114,778	)	3/4/2022	(28.45	)%	(28.54	)%	1M USD LIBOR	1M/T		(5,651	)
JPM	Bloom Energy Corp.	USD	(111,289	)	11/18/2021	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		13,526
MS	Bunzl plc	GBP	(97,842	)	12/2/2021	(0.25	)%	(0.30	)%	1D SONIA	1M/T		(23,658	)
JPM	Canadian Tire Corp. Ltd.	CAD	(115,164	)	9/20/2021	0.02	%	(0.40	)%	1M CDOR	1M/T		(11,852	)
JPM	CarParts.com, Inc.	USD	(99,003	)	3/11/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		(6,603	)
JPM	Coca-Cola Consolidated, Inc.	USD	(81,826	)	7/29/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		1,211
MS	Daimler AG (Registered)	EUR	(160,873	)	12/9/2021	(0.84	)%	(0.35	)%	1D EONIA	1M/T		(60,377	)
MS	Deutsche Post AG (Registered)	EUR	(200,970	)	12/9/2021	(0.84	)%	(0.35	)%	1D EONIA	1M/T		(83,965	)
MS	Deutsche Telekom AG (Registered)	EUR	(99,592	)	12/9/2021	(0.84	)%	(0.35	)%	1D EONIA	1M/T		(15,110	)
JPM	Discovery, Inc.	USD	(52,508	)	3/28/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		52,214
MS	Elisa OYJ	EUR	(75,419	)	12/9/2021	(0.89	)%	(0.40	)%	1D EONIA	1M/T		(9,073	)
MS	Enel SpA	EUR	(87,307	)	12/9/2021	(0.89	)%	(0.40	)%	1D EONIA	1M/T		(1,486	)
MS	Engie SA	EUR	(101,921	)	12/9/2021	(0.84	)%	(0.35	)%	1D EONIA	1M/T		13,798
MS	Etablissements Franz Colruyt NV	EUR	(236,824	)	12/9/2021	(0.89	)%	(0.40	)%	1D EONIA	1M/T		79,316
JPM	Fox Corp.	USD	(103,343	)	1/21/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		(10,161	)
JPM	Frontdoor, Inc.	USD	(81,730	)	7/21/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		(4,435	)
MS	Givaudan SA (Registered)	CHF	(226,100	)	12/9/2021	(1.08	)%	(0.35	)%	1D SARON	1M/T		(86,989	)
MS	GlaxoSmithKline plc	GBP	(40,918	)	12/2/2021	(0.25	)%	(0.30	)%	1D SONIA	1M/T		3,377
JPM	Grand Canyon Education, Inc.	USD	(82,671	)	5/17/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		1,143
JPM	Grifols SA	USD	(80,038	)	4/14/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		7,232
JPM	Guidewire Software, Inc.	USD	(151,718	)	3/23/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		(16,676	)
MS	H & M Hennes & Mauritz AB	SEK	(1,031,187	)	10/19/2021	(0.46	)%	(0.40	)%	1W STIBOR	1M/T		12,980
MS	Hannover Rueck SE	EUR	(59,882	)	12/9/2021	(0.84	)%	(0.35	)%	1D EONIA	1M/T		11,269
JPM	HealthEquity, Inc.	USD	(220,386	)	12/23/2021	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		(7,486	)
JPM	HelloFresh SE	EUR	(260,173	)	1/26/2022	(0.96	)%	(0.40	)%	1M EURIBOR	1M/T		(55,812	)
JPM	Hyliion Holdings Corp.	USD	(137,216	)	4/19/2022	(6.84	)%	(6.93	)%	1M USD LIBOR	1M/T		(17,955	)
JPM	Inmobiliaria Colonial Socimi SA	EUR	(10,114	)	6/15/2022	(0.96	)%	(0.40	)%	1M EURIBOR	1M/T		623
JPM	J M Smucker Co. (The)	USD	(155,496	)	10/7/2021	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		(14,049	)
JPM	Kellogg Co.	USD	(173,543	)	10/7/2021	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		(9,840	)
MS	Koninklijke Ahold Delhaize NV	EUR	(180,091	)	12/9/2021	(0.84	)%	(0.35	)%	1D EONIA	1M/T		(44,469	)
MS	Koninklijke Philips NV	EUR	(120,792	)	12/9/2021	(0.84	)%	(0.35	)%	1D EONIA	1M/T		19,456
JPM	Kroger Co. (The)	USD	(278,958	)	3/30/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		(24,847	)
JPM	Lordstown Motors Corp.	USD	(63,835	)	4/20/2022	(10.46	)%	(10.55	)%	1M USD LIBOR	1M/T		30,642
MS	L'Oreal SA	EUR	(319,525	)	12/9/2021	(0.84	)%	(0.35	)%	1D EONIA	1M/T		(104,681	)
JPM	Lululemon Athletica, Inc.	USD	(264,512	)	3/8/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		(59,734	)
MS	Marks & Spencer Group plc	GBP	(21,210	)	12/2/2021	(0.25	)%	(0.30	)%	1D SONIA	1M/T		19,478
JPM	Materialise NV	USD	(91,216	)	5/13/2022	(5.16) (4.63)	%- %	(5.25) (4.72)	%- %	1M USD LIBOR	1M/T		11,209
MS	Merck & Co., Inc.	USD	(44,585	)	12/14/2021	(0.25	)%	(0.35	)%	1D FEDEF	1M/T		1,637
JPM	National Bank of Canada	CAD	(57,294	)	3/11/2022	0.02	%	(0.40	)%	1M CDOR	1M/T		(2,779	)
MS	Next plc	GBP	(40,908	)	12/2/2021	(0.25	)%	(0.30	)%	1D SONIA	1M/T		(10,921	)
MS	NIKE, Inc.	USD	(93,973	)	12/14/2021	(0.25	)%	(0.35	)%	1D FEDEF	1M/T		(40,051	)
MS	Nokia OYJ	EUR	(78,728	)	12/9/2021	(0.89	)%	(0.40	)%	1D EONIA	1M/T		(29,877	)
JPM	Omnicom Group, Inc.	USD	(46,896	)	1/31/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		310
JPM	Pearson plc	GBP	(94,834	)	8/24/2021	(0.35	)%	(0.40	)%	1M GBP LIBOR	1M/T		(26,507	)
JPM	Perdoceo Education Corp.	USD	(173,583	)	1/10/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		5,662
MS	Pfizer, Inc.	USD	(41,483	)	12/14/2021	(0.25	)%	(0.35	)%	1D FEDEF	1M/T		(4,057	)
JPM	Proto Labs, Inc.	USD	(104,071	)	2/10/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		57,010
JPM	Qualys, Inc.	USD	(347,538	)	1/11/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		12,150
JPM	Robert Half International, Inc.	USD	(69,729	)	6/16/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		(5,346	)
MS	Schneider Electric SE	EUR	(176,201	)	12/9/2021	(0.84	)%	(0.35	)%	1D EONIA	1M/T		(53,346	)
JPM	Shake Shack, Inc.	USD	(192,936	)	4/19/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		(17,092	)
MS	Siemens AG (Registered)	EUR	(190,923	)	12/9/2021	(0.84	)%	(0.35	)%	1D EONIA	1M/T		(34,886	)
JPM	Signify NV	EUR	(146,147	)	3/2/2022	(0.96	)%	(0.40	)%	1M EURIBOR	1M/T		(21,775	)

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Counterparty	Reference Entity	Notional Amount			Maturity Date	Variable- Rate(b)		Spread		Reference Rate	Frequency of Fund Receipt/ Payment		Value and Unrealized Appreciation/ (Depreciation)
JPM	SolarEdge Technologies, Inc.	USD	(156,985	)	3/21/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T	$	4,839
JPM	Strategic Education, Inc.	USD	(289,091	)	9/27/2021	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		16,747
MS	Swisscom AG (Registered)	CHF	(79,025	)	12/9/2021	(1.08	)%	(0.35	)%	1D SARON	1M/T		(6,038	)
JPM	Tapestry, Inc.	USD	(333,874	)	6/22/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		(10,744	)
MS	Telefonica SA	EUR	(49,021	)	12/9/2021	(0.89	)%	(0.40	)%	1D EONIA	1M/T		11,677
MS	Tesla, Inc.	USD	(87,962	)	12/14/2021	(0.25	)%	(0.35	)%	1D FEDEF	1M/T		(2,221	)
JPM	Valmet OYJ	EUR	(110,238	)	7/8/2022	(1.06	)%	(0.50	)%	1M EURIBOR	1M/T		3,328
MS	Vinci SA	EUR	(155,225	)	12/9/2021	(0.84	)%	(0.35	)%	1D EONIA	1M/T		2,588
JPM	Volvo AB	SEK	(281,822	)	6/20/2022	(0.56	)%	(0.50	)%	1M STIBOR	1M/T		3,549
JPM	Westinghouse Air Brake Technologies Corp.	USD	(290,510	)	4/21/2022	(0.31	)%	(0.40	)%	1M USD LIBOR	1M/T		(18,787	)

Total Short Positions of equity swaps	$	(602,394	)
Total Long and Short Positions of equity swaps	$	413,125
Total Financing Costs and Other Receivables/(Payables) of equity swaps	$	(14,805	)
Total Long and Short Positions including Financing Costs and Other Receivables/(Payables) of equity swaps	$	398,320

(a)		The Fund pays a specified rate based on a reference rate plus or minus a spread, and receives the total return on the reference entity.
(b)		Effective rate at July 31, 2021.
(c)		The Fund receives a specified rate based on a reference rate plus or minus a spread, and pays the total return on the reference entity.

Total return basket swap contracts ("total return basket swaps")

At July 31, 2021, the Fund had outstanding total return basket swaps^(a) as follows:

Over the counter total return basket swaps—Short^(b)

Counterparty	Reference Entity	Effective Variable Rate^(c)			Spread			Reference Rate	Frequency of Fund Receipt/ Payment	Maturity Date(s)	Value
JPM	JPCR336		(0.21	)%		(0.30	)%	1M USD LIBOR	1M/T	7/21/2022	$	(5,282	)
JPM	JPCR337		(0.21	)%		(0.30	)%	1M USD LIBOR	1M/T	7/22/2022		(7,106	)
JPM	JPCR338		(0.21	)%		(0.30	)%	1M USD LIBOR	1M/T	7/25/2022		(3,821	)
JPM	JPCR339		(0.21	)%		(0.30	)%	1M USD LIBOR	1M/T	7/26/2022		(3,330	)
JPM	JPCR340		(0.21	)%		(0.30	)%	1M USD LIBOR	1M/T	7/27/2022		(1,717	)
JPM	JPCR341		(0.21	)%		(0.30	)%	1M USD LIBOR	1M/T	7/28/2022		(224	)
JPM	JPCR342		(0.21	)%		(0.30	)%	1M USD LIBOR	1M/T	7/29/2022		(1,384	)
JPM	JPCR343		(0.21	)%		(0.30	)%	1M USD LIBOR	1M/T	7/29/2022		(1,907	)
JPM	JPCR344		(0.21	)%		(0.30	)%	1M USD LIBOR	1M/T	8/2/2022		(52	)
JPM	JPCR345		(0.21	)%		(0.30	)%	1M USD LIBOR	1M/T	8/3/2022		(588	)

Total											$	(25,411	)

(a) The following tables represent required component disclosures associated with the total return basket swaps:

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting

JPCR336
Roku Inc		(50	)	$	(23,979	)	$	(167	)		7.6	%
Sysco Corp		(277	)		(23,213	)		(161	)		7.5	%
Altria Group Inc		(420	)		(22,739	)		(158	)		7.3	%
Philip Morris International Inc		(201	)		(22,663	)		(158	)		7.2	%
Realty Income Corp		(286	)		(22,628	)		(157	)		7.2	%
PepsiCo Inc		(127	)		(22,556	)		(157	)		7.2	%
Duke Energy Corp		(190	)		(22,468	)		(156	)		7.2	%
Constellation Brands Inc		(89	)		(22,426	)		(156	)		7.1	%
Hershey Co/The		(110	)		(22,255	)		(155	)		7.1	%
Kellogg Co		(309	)		(22,080	)		(153	)		7.0	%

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)		Component Weighting

JPCR336 (cont’d)
General Mills Inc	(331	)	$	(21,950	)	$	(153	)	7.0	%
Clorox Co/The	(107	)		(21,741	)		(151	)	6.9	%
Hormel Foods Corp	(412	)		(21,516	)		(150	)	6.9	%
McCormick & Co Inc/MD	(226	)		(21,443	)		(149	)	6.8	%
			$	(313,657	)	$	(2,181	)
Accrued Net Interest Receivable/(Payable)							(3101	)
						$	(5,282	)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)		Component Weighting

JPCR337
Roku Inc	(209	)	$	(80,760	)	$	(1,748	)	25.6	%
Realty Income Corp	(1,237	)		(78,653	)		(1,703	)	25.0	%
Zillow Group Inc	(811	)		(77,967	)		(1,688	)	24.7	%
Duke Energy Corp	(818	)		(77,777	)		(1,684	)	24.7	%
			$	(315,157	)	$	(6,823	)
Accrued Net Interest Receivable/(Payable)							(283	)
						$	(7,106	)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting

JPCR338
Align Technology Inc		(7	)	$	(4,861	)	$	(54	)		1.5	%
West Pharmaceutical Services Inc		(12	)		(4,752	)		(53	)		1.5	%
Albemarle Corp		(23	)		(4,733	)		(53	)		1.5	%
Restaurant Brands International Inc		(69	)		(4,674	)		(52	)		1.5	%
Fiserv Inc		(40	)		(4,549	)		(51	)		1.4	%
Philip Morris International Inc		(46	)		(4,535	)		(51	)		1.4	%
ANSYS Inc		(12	)		(4,517	)		(50	)		1.4	%
Arista Networks Inc		(12	)		(4,499	)		(50	)		1.4	%
LyondellBasell Industries NV		(46	)		(4,497	)		(50	)		1.4	%
Lululemon Athletica Inc		(11	)		(4,490	)		(50	)		1.4	%
Pfizer Inc		(105	)		(4,486	)		(50	)		1.4	%
CDW Corp/DE		(25	)		(4,475	)		(50	)		1.4	%
Rockwell Automation Inc		(15	)		(4,468	)		(50	)		1.4	%
Emerson Electric Co		(45	)		(4,468	)		(50	)		1.4	%
McDonald's Corp		(18	)		(4,456	)		(50	)		1.4	%
Starbucks Corp		(37	)		(4,448	)		(50	)		1.4	%
Cisco Systems Inc/Delaware		(81	)		(4,445	)		(50	)		1.4	%
Costco Wholesale Corp		(10	)		(4,440	)		(50	)		1.4	%
Estee Lauder Cos Inc/The		(13	)		(4,439	)		(50	)		1.4	%
Automatic Data Processing Inc		(21	)		(4,439	)		(50	)		1.4	%
Ecolab Inc		(20	)		(4,434	)		(49	)		1.4	%
Zscaler Inc		(19	)		(4,429	)		(49	)		1.4	%
Fidelity National Information Services I		(30	)		(4,427	)		(49	)		1.4	%
Micron Technology Inc		(57	)		(4,426	)		(49	)		1.4	%
Dollar General Corp		(19	)		(4,420	)		(49	)		1.4	%
Roku Inc		(10	)		(4,416	)		(49	)		1.4	%
Agilent Technologies Inc		(29	)		(4,414	)		(49	)		1.4	%
VF Corp		(55	)		(4,413	)		(49	)		1.4	%
Eaton Corp PLC		(28	)		(4,412	)		(49	)		1.4	%
Target Corp		(17	)		(4,408	)		(49	)		1.4	%
Motorola Solutions Inc		(20	)		(4,406	)		(49	)		1.4	%
Walgreens Boots Alliance Inc		(94	)		(4,403	)		(49	)		1.4	%
Sysco Corp		(60	)		(4,392	)		(49	)		1.4	%
Mettler-Toledo International Inc		(3	)		(4,391	)		(49	)		1.4	%
Fox Corp		(124	)		(4,386	)		(49	)		1.4	%
Altria Group Inc		(92	)		(4,377	)		(49	)		1.4	%
Best Buy Co Inc		(39	)		(4,369	)		(49	)		1.4	%
Duke Energy Corp		(42	)		(4,358	)		(49	)		1.4	%
Cintas Corp		(11	)		(4,356	)		(49	)		1.4	%
General Motors Co		(77	)		(4,354	)		(49	)		1.4	%

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting

JPCR338 (cont’d)
Fastenal Co		(80	)	$	(4,350	)	$	(49	)		1.4	%
Home Depot Inc/The		(13	)		(4,339	)		(48	)		1.4	%
PepsiCo Inc		(28	)		(4,332	)		(48	)		1.4	%
CVS Health Corp		(53	)		(4,331	)		(48	)		1.4	%
AT&T Inc		(155	)		(4,323	)		(48	)		1.4	%
Western Digital Corp		(67	)		(4,320	)		(48	)		1.4	%
Kroger Co/The		(107	)		(4,315	)		(48	)		1.4	%
Ford Motor Co		(311	)		(4,314	)		(48	)		1.4	%
Apple Inc		(30	)		(4,293	)		(48	)		1.4	%
HCA Healthcare Inc		(17	)		(4,289	)		(48	)		1.3	%
Moody's Corp		(12	)		(4,286	)		(48	)		1.3	%
Constellation Brands Inc		(19	)		(4,285	)		(48	)		1.3	%
Church & Dwight Co Inc		(50	)		(4,281	)		(48	)		1.3	%
O'Reilly Automotive Inc		(7	)		(4,276	)		(48	)		1.3	%
Caterpillar Inc		(21	)		(4,276	)		(48	)		1.3	%
Hershey Co/The		(24	)		(4,268	)		(48	)		1.3	%
Clorox Co/The		(24	)		(4,266	)		(48	)		1.3	%
International Paper Co		(74	)		(4,265	)		(48	)		1.3	%
DocuSign Inc		(14	)		(4,255	)		(48	)		1.3	%
3M Co		(22	)		(4,240	)		(47	)		1.3	%
Tractor Supply Co		(24	)		(4,238	)		(47	)		1.3	%
Kellogg Co		(67	)		(4,232	)		(47	)		1.3	%
Zillow Group Inc		(40	)		(4,232	)		(47	)		1.3	%
General Mills Inc		(72	)		(4,225	)		(47	)		1.3	%
Cummins Inc		(18	)		(4,196	)		(47	)		1.3	%
Magna International Inc		(50	)		(4,191	)		(47	)		1.3	%
Hormel Foods Corp		(90	)		(4,167	)		(47	)		1.3	%
WW Grainger Inc		(9	)		(4,161	)		(46	)		1.3	%
Stanley Black & Decker Inc		(21	)		(4,156	)		(46	)		1.3	%
McCormick & Co Inc/MD		(49	)		(4,128	)		(46	)		1.3	%
PACCAR Inc		(49	)		(4,052	)		(45	)		1.3	%
Humana Inc		(9	)		(3,978	)		(44	)		1.2	%
United Parcel Service Inc		(20	)		(3,874	)		(43	)		1.2	%
				$	(318,396	)	$	(3,553	)
Accrued Net Interest Receivable/(Payable)								(268	)
							$	(3,821	)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)		Component Weighting

JPCR339
Align Technology Inc	(9	)	$	(6,166	)	$	(59	)	1.9	%
West Pharmaceutical Services Inc	(16	)		(6,145	)		(59	)	1.9	%
Cognizant Technology Solutions Corp	(86	)		(5,960	)		(57	)	1.9	%
Albemarle Corp	(31	)		(5,948	)		(57	)	1.8	%
Restaurant Brands International Inc	(92	)		(5,886	)		(57	)	1.8	%
Fiserv Inc	(53	)		(5,745	)		(55	)	1.8	%
Pfizer Inc	(143	)		(5,731	)		(55	)	1.8	%
Lululemon Athletica Inc	(15	)		(5,728	)		(55	)	1.8	%
ANSYS Inc	(17	)		(5,710	)		(55	)	1.8	%
Dollar General Corp	(26	)		(5,698	)		(55	)	1.8	%
Arista Networks Inc	(16	)		(5,689	)		(55	)	1.8	%
Costco Wholesale Corp	(14	)		(5,686	)		(55	)	1.8	%
CDW Corp/DE	(33	)		(5,681	)		(55	)	1.8	%
Rockwell Automation Inc	(20	)		(5,660	)		(55	)	1.8	%
McDonald's Corp	(25	)		(5,649	)		(54	)	1.8	%
Mettler-Toledo International Inc	(4	)		(5,648	)		(54	)	1.8	%
Cisco Systems Inc/Delaware	(109	)		(5,643	)		(54	)	1.8	%
Emerson Electric Co	(60	)		(5,638	)		(54	)	1.8	%
Automatic Data Processing Inc	(29	)		(5,630	)		(54	)	1.8	%
Fidelity National Information Services I	(40	)		(5,627	)		(54	)	1.7	%
LyondellBasell Industries NV	(60	)		(5,619	)		(54	)	1.7	%
Zscaler Inc	(25	)		(5,607	)		(54	)	1.7	%
Motorola Solutions Inc	(27	)		(5,604	)		(54	)	1.7	%

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting

JPCR339 (cont’d)
Target Corp		(23	)	$	(5,599	)	$	(54	)		1.7	%
Starbucks Corp		(49	)		(5,591	)		(54	)		1.7	%
Eaton Corp PLC		(38	)		(5,577	)		(54	)		1.7	%
Roku Inc		(14	)		(5,572	)		(54	)		1.7	%
Best Buy Co Inc		(53	)		(5,569	)		(54	)		1.7	%
Walgreens Boots Alliance Inc		(126	)		(5,548	)		(53	)		1.7	%
Fastenal Co		(108	)		(5,545	)		(53	)		1.7	%
Home Depot Inc/The		(18	)		(5,522	)		(53	)		1.7	%
AT&T Inc		(210	)		(5,521	)		(53	)		1.7	%
Cintas Corp		(15	)		(5,520	)		(53	)		1.7	%
Micron Technology Inc		(76	)		(5,519	)		(53	)		1.7	%
VF Corp		(73	)		(5,510	)		(53	)		1.7	%
Apple Inc		(40	)		(5,509	)		(53	)		1.7	%
Realty Income Corp		(83	)		(5,500	)		(53	)		1.7	%
O'Reilly Automotive Inc		(10	)		(5,487	)		(53	)		1.7	%
Tractor Supply Co		(32	)		(5,485	)		(53	)		1.7	%
General Motors Co		(103	)		(5,471	)		(53	)		1.7	%
HCA Healthcare Inc		(23	)		(5,468	)		(53	)		1.7	%
Moody's Corp		(15	)		(5,448	)		(53	)		1.7	%
CVS Health Corp		(70	)		(5,445	)		(53	)		1.7	%
International Paper Co		(100	)		(5,425	)		(52	)		1.7	%
3M Co		(29	)		(5,414	)		(52	)		1.7	%
Fox Corp		(162	)		(5,411	)		(52	)		1.7	%
DocuSign Inc		(19	)		(5,405	)		(52	)		1.7	%
Ford Motor Co		(413	)		(5,399	)		(52	)		1.7	%
Caterpillar Inc		(28	)		(5,388	)		(52	)		1.7	%
WW Grainger Inc		(13	)		(5,334	)		(51	)		1.7	%
Cummins Inc		(24	)		(5,325	)		(51	)		1.7	%
Stanley Black & Decker Inc		(29	)		(5,298	)		(51	)		1.6	%
Magna International Inc		(67	)		(5,278	)		(51	)		1.6	%
Zillow Group Inc		(52	)		(5,226	)		(50	)		1.6	%
PACCAR Inc		(66	)		(5,170	)		(50	)		1.6	%
Generac Holdings Inc		(13	)		(5,148	)		(50	)		1.6	%
Humana Inc		(13	)		(5,046	)		(49	)		1.6	%
United Parcel Service Inc		(28	)		(4,946	)		(48	)		1.5	%
				$	(321,717	)	$	(3,098	)
Accrued Net Interest Receivable/(Payable)								(232	)
							$	(3,330	)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting

JPCR340
Align Technology Inc		(9	)	$	(5,963	)	$	(28	)		1.9	%
West Pharmaceutical Services Inc		(15	)		(5,924	)		(28	)		1.9	%
Cognizant Technology Solutions Corp		(85	)		(5,809	)		(27	)		1.8	%
Albemarle Corp		(30	)		(5,752	)		(27	)		1.8	%
Restaurant Brands International Inc		(89	)		(5,653	)		(26	)		1.8	%
Fiserv Inc		(53	)		(5,629	)		(26	)		1.8	%
Emerson Electric Co		(59	)		(5,572	)		(26	)		1.8	%
LyondellBasell Industries NV		(60	)		(5,568	)		(26	)		1.7	%
Rockwell Automation Inc		(19	)		(5,560	)		(26	)		1.7	%
CDW Corp/DE		(33	)		(5,560	)		(26	)		1.7	%
Pfizer Inc		(140	)		(5,555	)		(26	)		1.7	%
Dollar General Corp		(26	)		(5,549	)		(26	)		1.7	%
Automatic Data Processing Inc		(28	)		(5,549	)		(26	)		1.7	%
Costco Wholesale Corp		(14	)		(5,538	)		(26	)		1.7	%
ANSYS Inc		(16	)		(5,535	)		(26	)		1.7	%
Micron Technology Inc		(77	)		(5,527	)		(26	)		1.7	%
General Motors Co		(104	)		(5,497	)		(26	)		1.7	%
Best Buy Co Inc		(53	)		(5,497	)		(26	)		1.7	%
Fidelity National Information Services I		(40	)		(5,490	)		(26	)		1.7	%
Arista Networks Inc		(16	)		(5,482	)		(26	)		1.7	%
Roku Inc		(14	)		(5,479	)		(26	)		1.7	%

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting

JPCR340 (cont’d)
Motorola Solutions Inc		(26	)	$	(5,474	)	$	(25	)		1.7	%
McDonald's Corp		(24	)		(5,472	)		(25	)		1.7	%
Fastenal Co		(108	)		(5,467	)		(25	)		1.7	%
Target Corp		(23	)		(5,466	)		(25	)		1.7	%
Cisco Systems Inc/Delaware		(106	)		(5,463	)		(25	)		1.7	%
Walgreens Boots Alliance Inc		(125	)		(5,458	)		(25	)		1.7	%
Eaton Corp PLC		(37	)		(5,450	)		(25	)		1.7	%
Lululemon Athletica Inc		(15	)		(5,440	)		(25	)		1.7	%
Mettler-Toledo International Inc		(4	)		(5,433	)		(25	)		1.7	%
Cintas Corp		(15	)		(5,424	)		(25	)		1.7	%
HCA Healthcare Inc		(23	)		(5,412	)		(25	)		1.7	%
Realty Income Corp		(83	)		(5,411	)		(25	)		1.7	%
Home Depot Inc/The		(18	)		(5,406	)		(25	)		1.7	%
Ford Motor Co		(417	)		(5,397	)		(25	)		1.7	%
AT&T Inc		(207	)		(5,389	)		(25	)		1.7	%
Zscaler Inc		(25	)		(5,389	)		(25	)		1.7	%
International Paper Co		(100	)		(5,372	)		(25	)		1.7	%
VF Corp		(72	)		(5,369	)		(25	)		1.7	%
CVS Health Corp		(70	)		(5,364	)		(25	)		1.7	%
3M Co		(29	)		(5,351	)		(25	)		1.7	%
Apple Inc		(39	)		(5,347	)		(25	)		1.7	%
Tractor Supply Co		(32	)		(5,337	)		(25	)		1.7	%
O'Reilly Automotive Inc		(10	)		(5,335	)		(25	)		1.7	%
Fox Corp		(161	)		(5,330	)		(25	)		1.7	%
Starbucks Corp		(47	)		(5,329	)		(25	)		1.7	%
Caterpillar Inc		(28	)		(5,319	)		(25	)		1.7	%
Magna International Inc		(68	)		(5,309	)		(25	)		1.7	%
Moody's Corp		(15	)		(5,308	)		(25	)		1.7	%
WW Grainger Inc		(13	)		(5,265	)		(25	)		1.6	%
Cummins Inc		(24	)		(5,260	)		(25	)		1.6	%
Domino's Pizza Inc		(11	)		(5,248	)		(24	)		1.6	%
Stanley Black & Decker Inc		(29	)		(5,242	)		(24	)		1.6	%
DocuSign Inc		(19	)		(5,207	)		(24	)		1.6	%
Zillow Group Inc		(52	)		(5,169	)		(24	)		1.6	%
PACCAR Inc		(67	)		(5,125	)		(24	)		1.6	%
Generac Holdings Inc		(13	)		(5,076	)		(24	)		1.6	%
Humana Inc		(13	)		(4,942	)		(23	)		1.5	%
United Parcel Service Inc		(27	)		(4,829	)		(23	)		1.5	%
				$	(320,072	)	$	(1,492	)
Accrued Net Interest Receivable/(Payable)								(225	)
							$	(1,717	)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)		Component Weighting

JPCR341
Align Technology Inc	(7	)	$	(4,644	)	$	(1	)	1.5	%
Albemarle Corp	(23	)		(4,611	)		(1	)	1.5	%
West Pharmaceutical Services Inc	(12	)		(4,603	)		(1	)	1.4	%
Cognizant Technology Solutions Corp	(63	)		(4,521	)		(1	)	1.4	%
Magna International Inc	(54	)		(4,413	)		(1	)	1.4	%
General Motors Co	(80	)		(4,407	)		(1	)	1.4	%
Restaurant Brands International Inc	(66	)		(4,406	)		(1	)	1.4	%
Fiserv Inc	(39	)		(4,386	)		(1	)	1.4	%
LyondellBasell Industries NV	(45	)		(4,381	)		(1	)	1.4	%
Rockwell Automation Inc	(15	)		(4,376	)		(1	)	1.4	%
Pfizer Inc	(105	)		(4,375	)		(1	)	1.4	%
Emerson Electric Co	(44	)		(4,364	)		(1	)	1.4	%
Micron Technology Inc	(58	)		(4,352	)		(1	)	1.4	%
Kroger Co/The	(110	)		(4,346	)		(1	)	1.4	%
Sysco Corp	(60	)		(4,338	)		(1	)	1.4	%
Automatic Data Processing Inc	(21	)		(4,333	)		(1	)	1.4	%
Philip Morris International Inc	(45	)		(4,333	)		(1	)	1.4	%
Dollar General Corp	(19	)		(4,330	)		(1	)	1.4	%

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting

JPCR341 (cont’d)
Costco Wholesale Corp		(10	)	$	(4,323	)	$	(1	)		1.4	%
Ecolab Inc		(20	)		(4,317	)		(1	)		1.4	%
Walgreens Boots Alliance Inc		(94	)		(4,317	)		(1	)		1.4	%
CDW Corp/DE		(24	)		(4,316	)		(1	)		1.4	%
Altria Group Inc		(92	)		(4,309	)		(1	)		1.4	%
Motorola Solutions Inc		(20	)		(4,303	)		(1	)		1.4	%
Ford Motor Co		(317	)		(4,300	)		(1	)		1.4	%
Eaton Corp PLC		(28	)		(4,296	)		(1	)		1.4	%
ANSYS Inc		(12	)		(4,296	)		(1	)		1.4	%
Duke Energy Corp		(42	)		(4,286	)		(1	)		1.3	%
Cisco Systems Inc/Delaware		(79	)		(4,271	)		(1	)		1.3	%
Fastenal Co		(80	)		(4,270	)		(1	)		1.3	%
Fidelity National Information Services I		(29	)		(4,266	)		(1	)		1.3	%
Church & Dwight Co Inc		(51	)		(4,265	)		(1	)		1.3	%
Estee Lauder Cos Inc/The		(13	)		(4,264	)		(1	)		1.3	%
Target Corp		(17	)		(4,260	)		(1	)		1.3	%
Domino's Pizza Inc		(8	)		(4,260	)		(1	)		1.3	%
McDonald's Corp		(18	)		(4,256	)		(1	)		1.3	%
Kellogg Co		(69	)		(4,255	)		–			1.3	%
Constellation Brands Inc		(20	)		(4,255	)		–			1.3	%
HCA Healthcare Inc		(18	)		(4,255	)		(1	)		1.3	%
PepsiCo Inc		(28	)		(4,254	)		–			1.3	%
Arista Networks Inc		(12	)		(4,253	)		–			1.3	%
Hershey Co/The		(24	)		(4,251	)		–			1.3	%
Mettler-Toledo International Inc		(3	)		(4,250	)		–			1.3	%
Realty Income Corp		(62	)		(4,248	)		–			1.3	%
Cintas Corp		(11	)		(4,247	)		–			1.3	%
AT&T Inc		(155	)		(4,245	)		–			1.3	%
International Paper Co		(75	)		(4,236	)		–			1.3	%
Lululemon Athletica Inc		(11	)		(4,232	)		–			1.3	%
Best Buy Co Inc		(39	)		(4,225	)		–			1.3	%
General Mills Inc		(74	)		(4,221	)		–			1.3	%
CVS Health Corp		(53	)		(4,213	)		–			1.3	%
Zscaler Inc		(18	)		(4,210	)		–			1.3	%
3M Co		(22	)		(4,206	)		–			1.3	%
Caterpillar Inc		(21	)		(4,203	)		–			1.3	%
Home Depot Inc/The		(13	)		(4,200	)		–			1.3	%
Fox Corp		(121	)		(4,198	)		–			1.3	%
Moody's Corp		(11	)		(4,195	)		–			1.3	%
McCormick & Co Inc/MD		(51	)		(4,183	)		–			1.3	%
Apple Inc		(29	)		(4,183	)		–			1.3	%
Hormel Foods Corp		(92	)		(4,174	)		–			1.3	%
Clorox Co/The		(24	)		(4,170	)		–			1.3	%
Cummins Inc		(18	)		(4,164	)		–			1.3	%
O'Reilly Automotive Inc		(7	)		(4,143	)		–			1.3	%
WW Grainger Inc		(10	)		(4,129	)		–			1.3	%
DocuSign Inc		(14	)		(4,115	)		–			1.3	%
VF Corp		(53	)		(4,112	)		–			1.3	%
Stanley Black & Decker Inc		(21	)		(4,111	)		–			1.3	%
Starbucks Corp		(35	)		(4,106	)		–			1.3	%
Tractor Supply Co		(23	)		(4,106	)		–			1.3	%
Zillow Group Inc		(39	)		(4,055	)		–			1.3	%
PACCAR Inc		(50	)		(4,037	)		–			1.3	%
Generac Holdings Inc		(10	)		(3,973	)		–			1.2	%
Roku Inc		(9	)		(3,852	)		–			1.2	%
United Parcel Service Inc		(21	)		(3,852	)		–			1.2	%
Humana Inc		(9	)		(3,850	)		–			1.2	%
				$	(318,861	)	$	(37	)
Accrued Net Interest Receivable/(Payable)								(187	)
							$	(224	)

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting
JPCR342
Align Technology Inc		(7	)	$	(4,617	)	$	(19	)		1.4	%
West Pharmaceutical Services Inc		(12	)		(4,599	)		(18	)		1.4	%
Cognizant Technology Solutions Corp		(64	)		(4,466	)		(18	)		1.4	%
Albemarle Corp		(23	)		(4,459	)		(18	)		1.4	%
Restaurant Brands International Inc		(68	)		(4,397	)		(18	)		1.4	%
Fiserv Inc		(40	)		(4,359	)		(17	)		1.4	%
Rockwell Automation Inc		(15	)		(4,353	)		(17	)		1.4	%
Emerson Electric Co		(45	)		(4,326	)		(17	)		1.4	%
Magna International Inc		(55	)		(4,325	)		(17	)		1.4	%
Pfizer Inc		(107	)		(4,318	)		(17	)		1.4	%
Kroger Co/The		(112	)		(4,313	)		(17	)		1.4	%
Agilent Technologies Inc		(30	)		(4,301	)		(17	)		1.4	%
Waters Corp		(12	)		(4,300	)		(17	)		1.4	%
General Motors Co		(80	)		(4,298	)		(17	)		1.4	%
Micron Technology Inc		(59	)		(4,288	)		(17	)		1.4	%
Automatic Data Processing Inc		(22	)		(4,286	)		(17	)		1.3	%
Costco Wholesale Corp		(11	)		(4,282	)		(17	)		1.3	%
ANSYS Inc		(12	)		(4,278	)		(17	)		1.3	%
Cintas Corp		(12	)		(4,275	)		(17	)		1.3	%
Eaton Corp PLC		(29	)		(4,272	)		(17	)		1.3	%
Lululemon Athletica Inc		(11	)		(4,267	)		(17	)		1.3	%
Dollar General Corp		(19	)		(4,266	)		(17	)		1.3	%
Philip Morris International Inc		(45	)		(4,262	)		(17	)		1.3	%
Western Digital Corp		(70	)		(4,260	)		(17	)		1.3	%
HCA Healthcare Inc		(18	)		(4,259	)		(17	)		1.3	%
CDW Corp/DE		(25	)		(4,258	)		(17	)		1.3	%
Altria Group Inc		(94	)		(4,255	)		(17	)		1.3	%
Arista Networks Inc		(12	)		(4,251	)		(17	)		1.3	%
LyondellBasell Industries NV		(45	)		(4,250	)		(17	)		1.3	%
Fastenal Co		(82	)		(4,250	)		(17	)		1.3	%
Ecolab Inc		(20	)		(4,250	)		(17	)		1.3	%
Zscaler Inc		(19	)		(4,242	)		(17	)		1.3	%
Motorola Solutions Inc		(20	)		(4,241	)		(17	)		1.3	%
Duke Energy Corp		(43	)		(4,238	)		(17	)		1.3	%
Hershey Co/The		(25	)		(4,238	)		(17	)		1.3	%
Fidelity National Information Services I		(30	)		(4,235	)		(17	)		1.3	%
Church & Dwight Co Inc		(52	)		(4,224	)		(17	)		1.3	%
Kellogg Co		(71	)		(4,224	)		(17	)		1.3	%
Estee Lauder Cos Inc/The		(13	)		(4,223	)		(17	)		1.3	%
Mettler-Toledo International Inc		(3	)		(4,223	)		(17	)		1.3	%
Target Corp		(17	)		(4,220	)		(17	)		1.3	%
PepsiCo Inc		(28	)		(4,214	)		(17	)		1.3	%
Cisco Systems Inc/Delaware		(81	)		(4,209	)		(17	)		1.3	%
Walgreens Boots Alliance Inc		(95	)		(4,208	)		(17	)		1.3	%
Constellation Brands Inc		(20	)		(4,208	)		(17	)		1.3	%
AT&T Inc		(159	)		(4,198	)		(17	)		1.3	%
McDonald's Corp		(18	)		(4,195	)		(17	)		1.3	%
Ford Motor Co		(318	)		(4,193	)		(17	)		1.3	%
CVS Health Corp		(54	)		(4,191	)		(17	)		1.3	%
General Mills Inc		(75	)		(4,184	)		(17	)		1.3	%
Home Depot Inc/The		(13	)		(4,179	)		(17	)		1.3	%
Moody's Corp		(12	)		(4,175	)		(17	)		1.3	%
International Paper Co		(76	)		(4,168	)		(17	)		1.3	%
Amgen Inc		(18	)		(4,156	)		(17	)		1.3	%
Domino's Pizza Inc		(8	)		(4,147	)		(17	)		1.3	%
Hormel Foods Corp		(95	)		(4,139	)		(17	)		1.3	%
Cummins Inc		(19	)		(4,139	)		(17	)		1.3	%
3M Co		(22	)		(4,139	)		(17	)		1.3	%
Caterpillar Inc		(21	)		(4,132	)		(17	)		1.3	%
Apple Inc		(30	)		(4,128	)		(17	)		1.3	%
Best Buy Co Inc		(39	)		(4,126	)		(17	)		1.3	%
Zillow Group Inc		(41	)		(4,120	)		(17	)		1.3	%
Fox Corp		(122	)		(4,113	)		(17	)		1.3	%
DocuSign Inc		(15	)		(4,110	)		(16	)		1.3	%

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting
JPCR342 (cont’d)
O'Reilly Automotive Inc		(7	)	$	(4,110	)	$	(16	)		1.3	%
Clorox Co/The		(24	)		(4,110	)		(16	)		1.3	%
WW Grainger Inc		(10	)		(4,105	)		(16	)		1.3	%
VF Corp		(54	)		(4,063	)		(16	)		1.3	%
Starbucks Corp		(35	)		(4,062	)		(16	)		1.3	%
Tractor Supply Co		(24	)		(4,057	)		(16	)		1.3	%
Stanley Black & Decker Inc		(22	)		(4,034	)		(16	)		1.3	%
PACCAR Inc		(51	)		(4,027	)		(16	)		1.3	%
Generac Holdings Inc		(10	)		(3,977	)		(16	)		1.3	%
United Parcel Service Inc		(21	)		(3,845	)		(15	)		1.2	%
Humana Inc		(10	)		(3,843	)		(15	)		1.2	%
Roku Inc		(9	)		(3,767	)		(15	)		1.2	%
				$	(320,019	)	$	(1,282	)
Accrued Net Interest Receivable/(Payable)								(102	)
							$	(1,384	)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting
JPCR343
Align Technology Inc		(7	)	$	(4,944	)	$	(28	)		1.5	%
Albemarle Corp		(24	)		(4,845	)		(27	)		1.5	%
West Pharmaceutical Services Inc		(12	)		(4,836	)		(27	)		1.5	%
Cognizant Technology Solutions Corp		(67	)		(4,727	)		(27	)		1.5	%
Restaurant Brands International Inc		(71	)		(4,668	)		(26	)		1.5	%
Rockwell Automation Inc		(16	)		(4,655	)		(26	)		1.4	%
Micron Technology Inc		(62	)		(4,645	)		(26	)		1.4	%
Magna International Inc		(57	)		(4,598	)		(26	)		1.4	%
General Motors Co		(84	)		(4,593	)		(26	)		1.4	%
Emerson Electric Co		(47	)		(4,559	)		(26	)		1.4	%
ANSYS Inc		(13	)		(4,551	)		(26	)		1.4	%
Lululemon Athletica Inc		(12	)		(4,543	)		(26	)		1.4	%
Pfizer Inc		(110	)		(4,519	)		(25	)		1.4	%
Kroger Co/The		(116	)		(4,519	)		(25	)		1.4	%
Arista Networks Inc		(12	)		(4,513	)		(25	)		1.4	%
Cintas Corp		(12	)		(4,505	)		(25	)		1.4	%
Costco Wholesale Corp		(11	)		(4,501	)		(25	)		1.4	%
Eaton Corp PLC		(30	)		(4,499	)		(25	)		1.4	%
Zscaler Inc		(20	)		(4,499	)		(25	)		1.4	%
Estee Lauder Cos Inc/The		(14	)		(4,499	)		(25	)		1.4	%
Ford Motor Co		(336	)		(4,496	)		(25	)		1.4	%
CDW Corp/DE		(26	)		(4,495	)		(25	)		1.4	%
Dollar General Corp		(20	)		(4,492	)		(25	)		1.4	%
Target Corp		(18	)		(4,491	)		(25	)		1.4	%
Motorola Solutions Inc		(21	)		(4,490	)		(25	)		1.4	%
Automatic Data Processing Inc		(22	)		(4,481	)		(25	)		1.4	%
Walgreens Boots Alliance Inc		(99	)		(4,476	)		(25	)		1.4	%
Fastenal Co		(85	)		(4,475	)		(25	)		1.4	%
Altria Group Inc		(97	)		(4,467	)		(25	)		1.4	%
Fiserv Inc		(40	)		(4,461	)		(25	)		1.4	%
LyondellBasell Industries NV		(47	)		(4,457	)		(25	)		1.4	%
Home Depot Inc/The		(14	)		(4,457	)		(25	)		1.4	%
Philip Morris International Inc		(46	)		(4,455	)		(25	)		1.4	%
HCA Healthcare Inc		(19	)		(4,453	)		(25	)		1.4	%
Cisco Systems Inc/Delaware		(84	)		(4,451	)		(25	)		1.4	%
Ecolab Inc		(21	)		(4,445	)		(25	)		1.4	%
Hershey Co/The		(26	)		(4,435	)		(25	)		1.4	%
Zillow Group Inc		(43	)		(4,428	)		(25	)		1.4	%
Mettler-Toledo International Inc		(3	)		(4,426	)		(25	)		1.4	%
AT&T Inc		(164	)		(4,421	)		(25	)		1.4	%
Church & Dwight Co Inc		(53	)		(4,420	)		(25	)		1.4	%
Kellogg Co		(73	)		(4,420	)		(25	)		1.4	%
Apple Inc		(32	)		(4,417	)		(25	)		1.4	%
PepsiCo Inc		(29	)		(4,416	)		(25	)		1.4	%

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting

JPCR343 (cont’d)
Cummins Inc		(20	)	$	(4,412	)	$	(25	)		1.4	%
Constellation Brands Inc		(20	)		(4,405	)		(25	)		1.4	%
Clorox Co/The		(25	)		(4,397	)		(25	)		1.4	%
General Mills Inc		(78	)		(4,393	)		(25	)		1.4	%
Duke Energy Corp		(44	)		(4,392	)		(25	)		1.4	%
Fidelity National Information Services I		(31	)		(4,391	)		(25	)		1.4	%
3M Co		(23	)		(4,388	)		(25	)		1.4	%
Moody's Corp		(12	)		(4,386	)		(25	)		1.4	%
DocuSign Inc		(15	)		(4,385	)		(25	)		1.4	%
McDonald's Corp		(19	)		(4,379	)		(25	)		1.4	%
Fox Corp		(128	)		(4,378	)		(25	)		1.4	%
Caterpillar Inc		(22	)		(4,378	)		(25	)		1.4	%
CVS Health Corp		(55	)		(4,376	)		(25	)		1.4	%
International Paper Co		(79	)		(4,370	)		(25	)		1.4	%
Best Buy Co Inc		(40	)		(4,366	)		(25	)		1.4	%
Tractor Supply Co		(25	)		(4,362	)		(25	)		1.3	%
PACCAR Inc		(55	)		(4,359	)		(24	)		1.3	%
United Parcel Service Inc		(24	)		(4,357	)		(24	)		1.3	%
O'Reilly Automotive Inc		(7	)		(4,353	)		(24	)		1.3	%
Stanley Black & Decker Inc		(23	)		(4,344	)		(24	)		1.3	%
Domino's Pizza Inc		(9	)		(4,341	)		(24	)		1.3	%
WW Grainger Inc		(10	)		(4,331	)		(24	)		1.3	%
Hormel Foods Corp		(97	)		(4,322	)		(24	)		1.3	%
Starbucks Corp		(37	)		(4,282	)		(24	)		1.3	%
VF Corp		(56	)		(4,276	)		(24	)		1.3	%
Generac Holdings Inc		(11	)		(4,246	)		(24	)		1.3	%
Roku Inc		(10	)		(4,144	)		(23	)		1.3	%
Humana Inc		(10	)		(4,048	)		(23	)		1.3	%
				$	(320,704	)	$	(1,803	)
Accrued Net Interest Receivable/(Payable)								(104	)
							$	(1,907	)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting
JPCR344
Align Technology Inc		(9	)	$	(5,757	)	$	(1	)		1.8	%
West Pharmaceutical Services Inc		(15	)		(5,516	)		(1	)		1.7	%
Restaurant Brands International Inc		(88	)		(5,453	)		(1	)		1.7	%
Albemarle Corp		(29	)		(5,449	)		(1	)		1.7	%
Cognizant Technology Solutions Corp		(82	)		(5,421	)		(1	)		1.7	%
Rockwell Automation Inc		(19	)		(5,287	)		(1	)		1.7	%
Micron Technology Inc		(75	)		(5,283	)		(1	)		1.7	%
Emerson Electric Co		(58	)		(5,277	)		(1	)		1.7	%
General Motors Co		(103	)		(5,270	)		(1	)		1.6	%
Magna International Inc		(69	)		(5,263	)		(1	)		1.6	%
Lululemon Athletica Inc		(14	)		(5,238	)		(1	)		1.6	%
Costco Wholesale Corp		(13	)		(5,236	)		(1	)		1.6	%
CDW Corp/DE		(32	)		(5,231	)		(1	)		1.6	%
Eaton Corp PLC		(37	)		(5,231	)		(1	)		1.6	%
ANSYS Inc		(16	)		(5,228	)		(1	)		1.6	%
Target Corp		(22	)		(5,218	)		(1	)		1.6	%
Fastenal Co		(105	)		(5,216	)		(1	)		1.6	%
Automatic Data Processing Inc		(27	)		(5,213	)		(1	)		1.6	%
Sherwin-Williams Co/The		(20	)		(5,207	)		(1	)		1.6	%
Agilent Technologies Inc		(38	)		(5,205	)		(1	)		1.6	%
Dollar General Corp		(25	)		(5,203	)		(1	)		1.6	%
Motorola Solutions Inc		(26	)		(5,202	)		(1	)		1.6	%
Cisco Systems Inc/Delaware		(104	)		(5,201	)		(1	)		1.6	%
Fiserv Inc		(50	)		(5,199	)		(1	)		1.6	%
Cintas Corp		(15	)		(5,195	)		(1	)		1.6	%
Waters Corp		(15	)		(5,193	)		(1	)		1.6	%
HCA Healthcare Inc		(23	)		(5,192	)		(1	)		1.6	%
Arista Networks Inc		(15	)		(5,191	)		(1	)		1.6	%

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting
JPCR344 (cont’d)
Stanley Black & Decker Inc		(29	)	$	(5,187	)	$	(1	)		1.6	%
Home Depot Inc/The		(17	)		(5,187	)		(1	)		1.6	%
Ford Motor Co		(411	)		(5,178	)		(1	)		1.6	%
Apple Inc		(39	)		(5,176	)		(1	)		1.6	%
McDonald's Corp		(24	)		(5,165	)		(1	)		1.6	%
LyondellBasell Industries NV		(57	)		(5,164	)		(1	)		1.6	%
PACCAR Inc		(69	)		(5,160	)		(1	)		1.6	%
Fidelity National Information Services I		(38	)		(5,157	)		–			1.6	%
AT&T Inc		(203	)		(5,152	)		–			1.6	%
Walgreens Boots Alliance Inc		(121	)		(5,149	)		–			1.6	%
Cummins Inc		(25	)		(5,147	)		–			1.6	%
Realty Income Corp		(81	)		(5,142	)		–			1.6	%
3M Co		(29	)		(5,136	)		–			1.6	%
United Parcel Service Inc		(30	)		(5,127	)		–			1.6	%
Zscaler Inc		(24	)		(5,125	)		–			1.6	%
Best Buy Co Inc		(50	)		(5,113	)		–			1.6	%
Moody's Corp		(15	)		(5,110	)		–			1.6	%
Starbucks Corp		(46	)		(5,104	)		–			1.6	%
Mettler-Toledo International Inc		(4	)		(5,097	)		–			1.6	%
O'Reilly Automotive Inc		(9	)		(5,096	)		–			1.6	%
Amgen Inc		(23	)		(5,088	)		–			1.6	%
CVS Health Corp		(68	)		(5,087	)		–			1.6	%
International Paper Co		(97	)		(5,080	)		–			1.6	%
Tractor Supply Co		(31	)		(5,073	)		–			1.6	%
Pfizer Inc		(131	)		(5,069	)		–			1.6	%
Fox Corp		(157	)		(5,051	)		–			1.6	%
WW Grainger Inc		(13	)		(5,037	)		–			1.6	%
Caterpillar Inc		(27	)		(5,031	)		–			1.6	%
DocuSign Inc		(19	)		(5,031	)		–			1.6	%
Generac Holdings Inc		(13	)		(5,006	)		–			1.6	%
VF Corp		(69	)		(4,983	)		–			1.6	%
Humana Inc		(13	)		(4,971	)		–			1.6	%
Zillow Group Inc		(52	)		(4,959	)		–			1.6	%
Roku Inc		(12	)		(4,705	)		–			1.5	%
				$	(320,818	)	$	(35	)
Accrued Net Interest Receivable/(Payable)								(17	)
							$	(52	)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting
JPCR345
Restaurant Brands International Inc		(85	)	$	(5,345	)	$	(10	)		1.7	%
Align Technology Inc		(8	)		(5,229	)		(10	)		1.6	%
West Pharmaceutical Services Inc		(14	)		(5,173	)		(10	)		1.6	%
Albemarle Corp		(27	)		(5,168	)		(10	)		1.6	%
O'Reilly Automotive Inc		(9	)		(5,151	)		(10	)		1.6	%
Costco Wholesale Corp		(13	)		(5,140	)		(10	)		1.6	%
Emerson Electric Co		(55	)		(5,133	)		(10	)		1.6	%
Rockwell Automation Inc		(18	)		(5,131	)		(10	)		1.6	%
ANSYS Inc		(15	)		(5,130	)		(10	)		1.6	%
Western Digital Corp		(86	)		(5,124	)		(10	)		1.6	%
Micron Technology Inc		(72	)		(5,120	)		(10	)		1.6	%
Fiserv Inc		(48	)		(5,116	)		(10	)		1.6	%
Sherwin-Williams Co/The		(19	)		(5,116	)		(10	)		1.6	%
Cisco Systems Inc/Delaware		(100	)		(5,115	)		(10	)		1.6	%
Automatic Data Processing Inc		(26	)		(5,107	)		(10	)		1.6	%
Agilent Technologies Inc		(36	)		(5,106	)		(10	)		1.6	%
Cintas Corp		(14	)		(5,101	)		(10	)		1.6	%
Walgreens Boots Alliance Inc		(117	)		(5,099	)		(10	)		1.6	%
Home Depot Inc/The		(17	)		(5,099	)		(10	)		1.6	%
Eaton Corp PLC		(35	)		(5,098	)		(10	)		1.6	%
Magna International Inc		(66	)		(5,096	)		(10	)		1.6	%
Apple Inc		(38	)		(5,095	)		(9	)		1.6	%

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting

JPCR345 (cont’d)
CDW Corp/DE		(30	)	$	(5,094	)	$	(9	)		1.6	%
HCA Healthcare Inc		(22	)		(5,093	)		(9	)		1.6	%
Motorola Solutions Inc		(25	)		(5,091	)		(9	)		1.6	%
Pfizer Inc		(129	)		(5,090	)		(9	)		1.6	%
Generac Holdings Inc		(13	)		(5,088	)		(9	)		1.6	%
Tractor Supply Co		(30	)		(5,086	)		(9	)		1.6	%
3M Co		(28	)		(5,081	)		(9	)		1.6	%
Domino's Pizza Inc		(11	)		(5,081	)		(9	)		1.6	%
Fastenal Co		(101	)		(5,080	)		(9	)		1.6	%
Arista Networks Inc		(14	)		(5,079	)		(9	)		1.6	%
Dollar General Corp		(24	)		(5,079	)		(9	)		1.6	%
Target Corp		(21	)		(5,075	)		(9	)		1.6	%
United Parcel Service Inc		(29	)		(5,075	)		(9	)		1.6	%
Waters Corp		(14	)		(5,072	)		(9	)		1.6	%
Moody's Corp		(15	)		(5,070	)		(9	)		1.6	%
PACCAR Inc		(66	)		(5,069	)		(9	)		1.6	%
Stanley Black & Decker Inc		(28	)		(5,068	)		(9	)		1.6	%
Amgen Inc		(23	)		(5,068	)		(9	)		1.6	%
Fidelity National Information Services I		(37	)		(5,068	)		(9	)		1.6	%
Cummins Inc		(24	)		(5,064	)		(9	)		1.6	%
Zscaler Inc		(23	)		(5,063	)		(9	)		1.6	%
International Paper Co		(95	)		(5,063	)		(9	)		1.6	%
Cognizant Technology Solutions Corp		(75	)		(5,060	)		(9	)		1.6	%
McDonald's Corp		(23	)		(5,060	)		(9	)		1.6	%
Lululemon Athletica Inc		(14	)		(5,053	)		(9	)		1.6	%
Starbucks Corp		(45	)		(5,048	)		(9	)		1.6	%
General Motors Co		(96	)		(5,048	)		(9	)		1.6	%
CVS Health Corp		(66	)		(5,044	)		(9	)		1.6	%
AT&T Inc		(195	)		(5,044	)		(9	)		1.6	%
DocuSign Inc		(18	)		(5,034	)		(9	)		1.6	%
Humana Inc		(13	)		(5,030	)		(9	)		1.6	%
LyondellBasell Industries NV		(55	)		(5,027	)		(9	)		1.6	%
Best Buy Co Inc		(48	)		(5,002	)		(9	)		1.5	%
Fox Corp		(152	)		(4,998	)		(9	)		1.5	%
Mettler-Toledo International Inc		(4	)		(4,959	)		(9	)		1.5	%
Caterpillar Inc		(26	)		(4,948	)		(9	)		1.5	%
Ford Motor Co		(383	)		(4,932	)		(9	)		1.5	%
WW Grainger Inc		(12	)		(4,904	)		(9	)		1.5	%
Discovery Inc		(183	)		(4,890	)		(9	)		1.5	%
Roku Inc		(12	)		(4,846	)		(9	)		1.5	%
VF Corp		(65	)		(4,826	)		(9	)		1.5	%
				$	(319,442	)	$	(588	)
Accrued Net Interest Receivable/(Payable)								–
							$	(588	)

Total Return Basket Swaps, at value							$	(25,411	)

(b)	The Fund receives a specified rate based on a reference rate plus or minus a spread, and pays the total return on the reference entity. The cash flows may be denominated in various foreign currencies based on the local currencies of the positions within the swaps.
(c)	Effective rate at July 31, 2021.

At July 31, 2021, the Fund had cash collateral of $4,370,000, $1,920,000 and $1,246,189 deposited in a segregated account for JPMorgan Chase Bank, NA, Morgan Stanley Capital Services LLC and Societe Generale, respectively, to cover collateral requirements on over the counter derivatives.

Option contracts (“options”)

At July 31, 2021, the Fund did not have any open positions in options.

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Abbreviations
BBSW	Australian Bank-Bill Swap Reference Rate
CDOR	Canadian Dollar Offered Rate
EONIA	Euro Overnight Index Average Rate
EURIBOR	Euro Interbank Offered Rate
FEDEF	Federal Funds Floating Rate
HIBOR	Hong Kong Interbank Offered Rate
JPM	JPMorgan Chase Bank, NA
LIBOR	London Interbank Offered Rate
MS	Morgan Stanley Capital Services LLC
NIBOR	Norway Interbank Offered Rate
SARON	Swiss Average Overnight Rate
SG	Societe Generale
SIBOR	Singapore Interbank Offered Rate
SONIA	Sterling Overnight Index Average Rate
STIBOR	Stockholm Interbank Offered Rate
T	Termination Date
1D	One Day
1M	One Month
1W	One Week

Currency Abbreviations
AUD		Australian Dollar
BRL		Brazilian Real
CAD		Canadian Dollar
CHF		Swiss Franc
CLP		Chilean Peso
EUR		Euro
GBP		Pound Sterling
HKD		Hong Kong Dollar
HUF		Hungarian Forint
ILS		Israeli New Shekel
INR		Indian Rupee
JPY		Japanese Yen
KRW		Korean Won
MXN		Mexican Peso
NOK		Norwegian Krone
NZD		New Zealand Dollar
PHP		Philippine Peso
PLN		Poland Zloty
SEK		Swedish Krona
SGD		Singapore Dollar
THB		Thailand Baht
TRY		Turkish Lira
USD		United States Dollar
ZAR		South African Rand

The following is a summary, categorized by Level (See Notes to Consolidated Schedule of Investments), of inputs used to value the Fund's investments as of July 31, 2021:

Asset Valuation Inputs

	Level 1		Level 2		Level 3^*		Total
Investments:
Common Stocks
Airlines	$	12,697	$	—	$	719	$	13,416
Communications Equipment		54,245		—		190		54,435
Health Care Equipment & Supplies		901,151		—		—		901,151
Hotels, Restaurants & Leisure		2,009,051		—		—		2,009,051
Interactive Media & Services		1,885,792		—		335		1,886,127
Internet & Direct Marketing Retail		1,794,768		—		935,948		2,730,716
Media		570,961		—		1,606		572,567

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

Oil, Gas & Consumable Fuels		97,893		2,602		—		100,495
Pharmaceuticals		959,028		—		—		959,028
Semiconductors & Semiconductor Equipment		1,723,079		—		—		1,723,079
Specialty Retail		485,779		—		24,960		510,739
Other Common Stocks^(a)		28,666,200		—		—		28,666,200
Total Common Stocks		39,160,644		2,602		963,758		40,127,004
Rights
Biotechnology		—		—		175,775		175,775
Media		—		—		—		—
Metals & Mining		32,868		—		—		32,868
Pharmaceuticals		—		—		1,251		1,251
Total Rights		32,868		—		177,026		209,894
Warrants
Capital Markets		4,622		8,903		—		13,525
Oil, Gas & Consumable Fuels		—		—		160,640		160,640
Total Warrants		4,622		8,903		160,640		174,165
Convertible Preferred Stocks^(a)		150,287		—		—		150,287
Preferred Stocks^(a)		52,527		—		—		52,527
Loan Assignments^(a)		—		—		24,659		24,659
Corporate Bonds^(a)		—		—		—		—
Short-Term Investments		—		26,920,142		—		26,920,142
Total Long Positions	$	39,400,948	$	26,931,647	$	1,326,083	$	67,658,678

(a) The Consolidated Schedule of Investments provides information on the industry or sector categorization for the portfolio as well as a Positions by Country summary.

*	The following is a reconciliation between the beginning and ending balances of investments in which unobservable inputs (Level 3) were used in determining value:

	Common Stocks^(a)(b)			Corporate Bonds^(a)		Loan Assignments^(a)(b)			Rights^(a)(b)(c)			Warrants^(a)(b)			Total
Assets:
Investments in Securities:
Beginning Balance as of November 1, 2020	$	1,363,663		$	–	$	172,558		$	213,040		$	181,809		$	1,931,070
Transfers into Level 3		7,758			–		23,210			–			–			30,968
Transfers out of Level 3		(4,909	)		–		–			–			(9,045	)		(13,954	)
Accrued discounts/(premiums)		–			–		4,302			–			–			4,302
Realized gain/(loss)		(66,337	)		–		(93,987	)		7,906			(157,640	)		(310,058	)
Change in unrealized appreciation/(depreciation)		81,973			–		(20,227	)		(32,120	)		145,516			175,142
Purchases		102,660			–		34,586			–			–			137,246
Sales		(521,050	)		–		(95,783	)		(11,800	)		–			(628,633	)
Balance as of July 31, 2021	$	963,758		$	–	$	24,659		$	177,026		$	160,640		$	1,326,083
Net change in unrealized appreciation/(depreciation) on investments still held as of July 31, 2021	$	81,973		$	–	$	(19,687	)	$	(36,014	)	$	145,516		$	171,788

(a)	As of the period ended July 31, 2021, these securities were fair valued in accordance with procedures approved by the Board of Trustees. Certain of these investments did not have a material impact on the Fund’s net assets; therefore, disclosure of unobservable inputs used in formulating valuations is not presented.
(b)	These securities were valued based on a single quotation obtained from a dealer. The Fund does not have access to unobservable inputs and therefore cannot disclose such inputs used in formulating such quotation.
(c)	Quantitative Information about Level 3 Fair Value Measurements:

Investment Type

Fair Value

Valuation approach

Unovservable input(s)

Input value/ range

Weighted average^(d)

Impact to valuation from Increase in Input^(e)

Rights

118,300

Recovery Value

Discount for uncertain milestone achievablility

25.0

Decrease

(d) The weighted averages disclosed in the table above were weighted by relative fair value.

See Notes to Consolidated Schedule of Investments

Consolidated Schedule of Investments Absolute Return Multi-Manager Fund^ (Unaudited) (cont’d)

(e)	Represents the expected directional change in the fair value of the Level 3 investments that would result from an increase or decrease in the corresponding input. Significant changes in these inputs could result in significantly higher or lower fair value measurements.

The following is a summary, categorized by Level (See Notes to Consolidated Schedule of Investments), of inputs used to value the Fund's short investments as of July 31, 2021:

Liability Valuation Inputs

	Level 1			Level 2		Level 3		Total
Investments:
Common Stocks Sold Short^(a)	$	(7,567,973	)	$	—	$	—	$	(7,567,973	)
Total Short Positions	$	(7,567,973	)	$	—	$	—	$	(7,567,973	)

(a) The Consolidated Schedule of Investments provides information on the industry or sector categorization for the portfolio.

The following is a summary, categorized by level (See Notes to Consolidated Schedule of Investments), of inputs used to value the Fund's derivatives as of July 31, 2021:

Other Financial Instruments

	Level 1			Level 2			Level 3		Total
Futures(a)
Assets	$	885,325		$	—		$	—	$	885,325
Liabilities		(118,021	)		—			—		(118,021	)
Forward contracts(a)
Assets		—			508,374			—		508,374
Liabilities		—			(941,377	)		—		(941,377	)
Swaps
Assets		—			1,719,886			—		1,719,886
Liabilities		—			(1,346,977	)		—		(1,346,977	)
Total	$	767,304		$	(60,094	)	$	—	$	707,210

(a)	Futures and forward contracts are reported at the cumulative unrealized appreciation/(depreciation) of the instrument.

^ A balance indicated with a "-", reflects either a zero balance or an amount that rounds to less than 1.

See Notes to Consolidated Schedule of Investments

July 31, 2021

Notes to Consolidated Schedule of Investments Absolute Return Multi-Manager Fund (Unaudited)

In accordance with Accounting Standards Codification 820 “Fair Value Measurement” (“ASC 820”), all investments held by Neuberger Berman Absolute Return Multi-Manager Fund (the “Fund”) are carried at the value that Neuberger Berman Investment Advisers LLC (“Management”) believes the Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment under current market conditions. Various inputs, including the volume and level of activity for the asset or liability in the market, are considered in valuing the Fund’s investments, some of which are discussed below. Significant Management judgment may be necessary to value investments in accordance with ASC 820.

ASC 820 established a three-tier hierarchy of inputs to create a classification of value measurements for disclosure purposes. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below.

●

Level 1 – unadjusted quoted prices in active markets for identical investments

●

Level 2 – other observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, amortized cost, etc.)

●

Level 3 – unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing an investment are not necessarily an indication of the risk associated with investing in those securities.

The value of the Fund’s investments (long and short positions) in equity securities, preferred stocks, convertible preferred stocks, rights and warrants, for which market quotations are readily available, is generally determined by Management by obtaining valuations from independent pricing services based on the latest sale price quoted on a principal exchange or market for that security (Level 1 inputs). Securities traded primarily on the NASDAQ Stock Market are normally valued at the NASDAQ Official Closing Price (“NOCP”) provided by NASDAQ each business day. The NOCP is the most recently reported price as of 4:00:02 p.m., Eastern Time, unless that price is outside the range of the “inside” bid and asked prices (i.e., the bid and asked prices that dealers quote to each other when trading for their own accounts); in that case, NASDAQ will adjust the price to equal the inside bid or asked price, whichever is closer. Because of delays in reporting trades, the NOCP may not be based on the price of the last trade to occur before the market closes. If there is no sale of a security on a particular day, the independent pricing services may value the security based on market quotations.

The value of the Fund’s investments for long positions in debt securities is determined by Management primarily by obtaining valuations from independent pricing services based on readily available bid quotations, or if quotations are not available, by methods which include various considerations based on security type (generally Level 2 inputs). In addition to the consideration of yields or prices of securities of comparable quality, coupon, maturity and type, indications as to values from dealers, and general market conditions, the following is a description of other Level 2 inputs and related valuation techniques used by independent pricing services to value certain types of debt securities held by the Fund:

Corporate Bonds. Inputs used to value corporate debt securities generally include relative credit information, observed market movements, sector news, U.S. Treasury yield curve or relevant benchmark curve and other market information, which may include benchmark yield curves, reported trades, broker-dealer quotes, issuer spreads, comparable securities, and reference data, such as market research publications, when available (“Other Market Information”).

High Yield Securities. Inputs used to value high yield securities generally include a number of observations of equity and credit default swap curves related to the issuer and Other Market Information.

The value of loan assignments is determined by Management primarily by obtaining valuations from independent pricing services based on broker quotes (generally Level 2 or Level 3 inputs depending on the number of quotes available).

The value of futures contracts is determined by Management by obtaining valuations from independent pricing services at the settlement price at the market close (Level 1 inputs).

The value of forward foreign currency contracts is determined by Management by obtaining valuations from independent pricing services based on actual traded currency rates on independent pricing services’ networks, along with other traded and quoted currency rates provided to the pricing services by leading market participants (Level 2 inputs).

The value of equity swaps and total return basket swaps is determined by Management by obtaining valuations from independent pricing services using the underlying asset and stated benchmark interest rate (Level 2 inputs).

Management has developed a process to periodically review information provided by independent pricing services for all types of securities.

For information on the Fund’s significant accounting policies, please refer to the Fund’s most recent shareholder reports.

Notes to Consolidated Schedule of Investments Absolute Return Multi-Manager Fund (Unaudited) (cont’d)

Investments in non-exchange traded investment companies with readily determinable fair value are valued using the respective fund’s daily calculated net asset value per share (Level 2 inputs).

If a valuation is not available from an independent pricing service, or if Management has reason to believe that the valuation received does not represent the amount the Fund might reasonably expect to receive on a current sale in an orderly transaction, Management seeks to obtain quotations from brokers or dealers (generally considered Level 2 or Level 3 inputs depending on the number of quotes available). If such quotations are not readily available, the security is valued using methods the Board has approved in the good-faith belief that the resulting valuation will reflect the fair value of the security. Inputs and assumptions considered in determining the fair value of a security based on Level 2 or Level 3 inputs may include, but are not limited to, the type of the security; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer and/or analysts; an analysis of the company’s or issuer’s financial statements; an evaluation of the inputs that influence the issuer and the market(s) in which the security is purchased and sold.

The value of the Fund’s investments in foreign securities is generally determined using the same valuation methods and inputs as other Fund investments, as discussed above. Foreign security prices expressed in local currency values are normally translated from the local currency into U.S. dollars using the exchange rates as of 4:00 p.m. Eastern Time on days the New York Stock Exchange is open for business. The Board has approved the use of ICE Data Services (“ICE”) to assist in determining the fair value of foreign equity securities when changes in the value of a certain index suggest that the closing prices on the foreign exchanges may no longer represent the amount that the Fund could expect to receive for those securities or on days when foreign markets are closed and U.S. markets are open. In each of these events, ICE will provide adjusted prices for certain foreign equity securities using a statistical analysis of historical correlations of multiple factors (Level 2 inputs). The Board has also approved the use of ICE to evaluate the prices of foreign debt securities as of the time as of which the Fund’s share price is calculated. ICE utilizes benchmark spread and yield curves and evaluates available market activity from the local close to the time as of which the Fund’s share price is calculated (Level 2 inputs) to assist in determining prices for certain foreign debt securities. In the case of both foreign equity and foreign debt securities, in the absence of precise information about the market values of these foreign securities as of the time as of which the Fund’s share price is calculated, the Board has determined on the basis of available data that prices adjusted or evaluated in this way are likely to be closer to the prices the Fund could realize on a current sale than are the prices of those securities established at the close of the foreign markets in which the securities primarily trade.

Fair value prices are necessarily estimates, and there is no assurance that such a price will be at or close to the price at which the security is next quoted or next trades.

In December 2020, the Securities and Exchange Commission ("SEC") adopted Rule 2a-5 under the Investment Company Act of 1940, as amended (the "1940 Act"), which establishes requirements for determining fair value in good faith for purposes of the 1940 Act, including related oversight and reporting requirements. The rule also defines when market quotations are "readily available" for purposes of the 1940 Act, which is the threshold for determining whether a fund must fair value a security. The rule became effective on March 8, 2021, however, the SEC adopted an eighteen-month transition period beginning from the effective date. Management is currently evaluating this guidance.

The Fund invests in commodity-related instruments through Neuberger Berman Cayman ARMM Fund I Ltd. (the “Subsidiary”), which is organized under the laws of the Cayman Islands. The Fund is and expects to remain the sole shareholder of the Subsidiary. The Subsidiary is governed by its own Board of Directors. As of July 31, 2021, the Fund's investment in the Subsidiary was $11,776,118, which represents 15.6% of the Fund’s net assets.

In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2020-04 (“ASU 2020-04”), “Reference Rate Reform (Topic 848)”. In response to concerns about structural risks of interbank offered rates, and particularly the risk of cessation of LIBOR, regulators have undertaken reference rate reform initiatives to identify alternative reference rates that are more observable or transaction based and less susceptible to manipulation. ASU 2020-04 provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. ASU 2020-04 is elective and applies to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments are effective as of March 12, 2020 through December 31, 2022. Management is currently evaluating the impact of the guidance.

Other matters—Coronavirus: The outbreak of the novel coronavirus in many countries has, among other things, disrupted global travel and supply chains, and adversely impacted global commercial activity, the transportation industry and commodity prices in the energy sector. The impact of this virus has negatively affected and may continue to affect the economies of many nations, individual companies and the global securities and commodities markets, including liquidity and volatility. The development and fluidity of this situation precludes any prediction as to its ultimate impact, which may have a continued adverse effect on global economic and market conditions. Such conditions (which may be across industries, sectors or geographies) have impacted and may continue to impact the issuers of the securities held by the Fund.

For information on the Fund’s significant accounting policies, please refer to the Fund’s most recent shareholder reports.

Consolidated Schedule of Investments Commodity Strategy Fund^

(Unaudited) July 31, 2021

PRINCIPAL AMOUNT			VALUE

U.S. Treasury Obligations 16.4%
		U.S. Treasury Bills
$	5,000,000	0.03%, due 9/30/2021	$	4,999,611	^(a)
	22,000,000	0.02%, due 10/28/2021 – 11/18/2021		21,996,862	^(a)
		Total U.S. Treasury Obligations (Cost $26,998,459)		26,996,473
Asset-Backed Securities 18.9%
	1,000,000	American Express Credit Account Master Trust, Ser. 2017-5, Class A, (1M USD LIBOR + 0.38%), 0.47%, due 2/18/2025		1,003,557	^(b)
	1,820,000	BMW Vehicle Lease Trust, Ser. 2021-1, Class A2, 0.20%, due 3/27/2023		1,820,715
	2,000,000	Citibank Credit Card Issuance Trust, Ser. 2017-A7, Class A7, (1M USD LIBOR + 0.37%), 0.47%, due 8/8/2024		2,007,430	^(b)
		Ford Credit Auto Lease Trust
	322,723	Ser. 2020-B, Class A2A, 0.50%, due 12/15/2022		322,916
	1,183,528	Ser. 2021-A, Class A2, 0.19%, due 7/15/2023		1,183,542
		Ford Credit Auto Owner Trust
	44,515	Ser. 2020-A, Class A2, 1.03%, due 10/15/2022		44,540
	198,949	Ser. 2020-B, Class A2, 0.50%, due 2/15/2023		199,092
		GM Financial Consumer Automobile Receivables Trust
	645,073	Ser. 2020-3, Class A2, 0.35%, due 7/17/2023		645,462
	779,006	Ser. 2021-1, Class A2, 0.23%, due 11/16/2023		779,276
		Golden Credit Card Trust
	910,000	Ser. 2019-2A, Class A, (1M USD LIBOR + 0.35%), 0.44%, due 10/15/2023		910,637	^(b)(c)
	1,000,000	Ser. 2017-4A, Class A, (1M USD LIBOR + 0.52%), 0.61%, due 7/15/2024		1,004,808	^(b)(c)
		Hyundai Auto Lease Securitization Trust
	848,934	Ser. 2020-B, Class A2, 0.36%, due 1/17/2023		849,556	^(c)
	1,690,000	Ser. 2021-B, Class A2, 0.19%, due 10/16/2023		1,689,633	^(c)
		Mercedes-Benz Auto Lease Trust
	698,489	Ser. 2020-B, Class A2, 0.31%, due 2/15/2023		698,867
	1,851,119	Ser. 2021-A, Class A2, 0.18%, due 3/15/2023		1,851,444
	920,000	MMAF Equipment Finance LLC, Ser. 2021-A, Class A2, 0.30%, due 4/15/2024		920,644	^(c)
		Navient Student Loan Trust
	359,390	Ser. 2017-4A, Class A2, (1M USD LIBOR + 0.50%), 0.59%, due 9/27/2066		360,220	^(b)(c)
	379,759	Ser. 2019-7A, Class A1, (1M USD LIBOR + 0.50%), 0.59%, due 1/25/2068		380,695	^(b)(c)
	130,178	Ser. 2019-2A, Class A1, (1M USD LIBOR + 0.27%), 0.36%, due 2/27/2068		130,178	^(b)(c)
	570,968	Ser. 2019-4A, Class A1, (1M USD LIBOR + 0.28%), 0.37%, due 7/25/2068		570,780	^(b)(c)
	1,024,781	Santander Consumer Auto Receivables Trust, Ser. 2021-AA, Class A2, 0.23%, due 11/15/2023		1,025,036	^(c)
	1,941,338	Santander Retail Auto Lease Trust, Ser. 2021-A, Class A2, 0.32%, due 2/20/2024		1,942,676	^(c)
		Tesla Auto Lease Trust
	496,099	Ser. 2020-A, Class A2, 0.55%, due 5/22/2023		496,787	^(c)
	1,600,000	Ser. 2021-A, Class A2, 0.36%, due 3/20/2025		1,601,287	^(c)
	3,760,000	Toyota Auto Receivables Owner Trust, Ser. 2021-B, Class A2, 0.14%, due 1/16/2024		3,757,812
	1,200,000	Verizon Owner Trust, Ser. 2019-C, Class A1B, (1M USD LIBOR + 0.42%), 0.50%, due 4/22/2024		1,203,313	^(b)
	346,775	Volkswagen Auto Loan Enhanced Trust, Ser. 2020-1, Class A2A, 0.93%, due 12/20/2022		347,093

See Notes to Schedule of Investments

Consolidated Schedule of Investments Commodity Strategy Fund^

(Unaudited) (cont’d)

PRINCIPAL AMOUNT			VALUE

		World Omni Auto Receivables Trust
$	1,252,419	Ser. 2020-C, Class A2, 0.35%, due 12/15/2023	$	1,253,191
	1,420,000	Ser. 2021-B, Class A2, 0.20%, due 7/15/2024		1,420,048
	660,000	World Omni Automobile Lease Securitization Trust, Ser. 2021-A, Class A2, 0.21%, due 4/15/2024		660,123
		Total Asset-Backed Securities (Cost $31,064,633)		31,081,358
Corporate Bonds 42.1%
Agriculture 0.7%
	1,170,000	BAT Capital Corp., (3M USD LIBOR + 0.88%), 1.04%, due 8/15/2022		1,176,947	^(b)
Auto Manufacturers 1.6%
	1,610,000	Daimler Finance N.A. LLC, (3M USD LIBOR + 0.90%), 1.06%, due 2/15/2022		1,617,287	^(b)(c)
	1,000,000	Volkswagen Group of America Finance LLC, (3M USD LIBOR + 0.94%), 1.11%, due 11/12/2021		1,002,495	^(b)(c)
				2,619,782
Banks 17.9%
		Bank of America Corp.
	690,000	(3M USD LIBOR + 1.16%), 1.29%, due 1/20/2023		693,465	^(b)
	2,145,000	(3M USD LIBOR + 1.00%), 1.13%, due 4/24/2023		2,158,760	^(b)
	775,000	(3M USD LIBOR + 0.79%), 0.92%, due 3/5/2024		781,795	^(b)
	1,475,000	BB&T Corp., (3M USD LIBOR + 0.65%), 0.79%, due 4/1/2022		1,480,197	^(b)
	2,888,000	Citigroup, Inc., (3M USD LIBOR + 1.10%), 1.26%, due 5/17/2024		2,928,772	^(b)
	3,527,000	Goldman Sachs Group, Inc., (3M USD LIBOR + 1.60%), 1.74%, due 11/29/2023		3,633,579	^(b)
	2,500,000	JPMorgan Chase & Co., (3M USD LIBOR + 0.90%), 1.03%, due 4/25/2023		2,518,479	^(b)
	3,655,000	Morgan Stanley, (SOFR + 0.70%), 0.75%, due 1/20/2023		3,664,799	^(b)
		Royal Bank of Canada
	2,035,000	(3M USD LIBOR + 0.47%), 0.60%, due 4/29/2022		2,041,370	^(b)
	270,000	(3M USD LIBOR + 0.36%), 0.49%, due 1/17/2023		271,162	^(b)
	2,005,000	Toronto-Dominion Bank, (SOFR + 0.48%), 0.53%, due 1/27/2023		2,014,626	^(b)
	2,185,000	U.S. Bank N.A., (3M USD LIBOR + 0.40%), 0.52%, due 12/9/2022		2,196,044	^(b)
	2,439,000	Wells Fargo & Co., (3M USD LIBOR + 1.23%), 1.36%, due 10/31/2023		2,470,960	^(b)
		Westpac Banking Corp.
	1,835,000	(3M USD LIBOR + 0.85%), 1.00%, due 8/19/2021		1,835,745	^(b)
	640,000	(3M USD LIBOR + 0.39%), 0.52%, due 1/13/2023		643,266	^(b)
				29,333,019
Biotechnology 0.5%
	765,000	Gilead Sciences, Inc., (3M USD LIBOR + 0.52%), 0.67%, due 9/29/2023		765,439	^(b)
Diversified Financial Services 3.4%
	705,000	American Express Co., (3M USD LIBOR + 0.61%), 0.74%, due 8/1/2022		708,230	^(b)
	2,820,000	Capital One Financial Corp., (3M USD LIBOR + 0.95%), 1.07%, due 3/9/2022		2,832,836	^(b)
	2,055,000	Intercontinental Exchange, Inc., (3M USD LIBOR + 0.65%), 0.77%, due 6/15/2023		2,055,514	^(b)
				5,596,580

See Notes to Schedule of Investments

Consolidated Schedule of Investments Commodity Strategy Fund^

(Unaudited) (cont’d)

PRINCIPAL AMOUNT			VALUE

Electric 3.1%
$	1,185,000	Duke Energy Corp., (SOFR + 0.25%), 0.25%, due 6/10/2023	$	1,185,187	^(b)
	980,000	Duke Energy Florida LLC, Ser. A, (3M USD LIBOR + 0.25%), 0.39%, due 11/26/2021		980,561	^(b)
	1,435,000	Florida Power & Light Co., (3M USD LIBOR + 0.38%), 0.51%, due 7/28/2023		1,435,065	^(b)
	1,515,000	Southern California Edison Co., Ser. D, (3M USD LIBOR + 0.27%), 0.40%, due 12/3/2021		1,515,415	^(b)
				5,116,228
Electronics 0.5%
		Honeywell Int’l, Inc.
	380,000	(3M USD LIBOR + 0.37%), 0.53%, due 8/8/2022		381,606	^(b)
	500,000	(3M USD LIBOR + 0.23%), 0.38%, due 8/19/2022		500,075	^(b)
				881,681
Gas 1.3%
	565,000	Atmos Energy Corp., (3M USD LIBOR + 0.38%), 0.50%, due 3/9/2023		565,146	^(b)
	1,045,000	CenterPoint Energy Resources Corp., (3M USD LIBOR + 0.50%), 0.63%, due 3/2/2023		1,045,243	^(b)
	585,000	Southern California Gas Co., (3M USD LIBOR + 0.35%), 0.47%, due 9/14/2023		585,058	^(b)
				2,195,447
Insurance 1.2%
	2,025,000	New York Life Global Funding, (3M USD LIBOR + 0.44%), 0.56%, due 7/12/2022		2,033,090	^(b)(c)
Machinery - Diversified 0.8%
	1,350,000	Otis Worldwide Corp., (3M USD LIBOR + 0.45%), 0.59%, due 4/5/2023		1,350,094	^(b)
Media 1.5%
	1,125,000	Comcast Corp., (3M USD LIBOR + 0.63%), 0.76%, due 4/15/2024		1,137,997	^(b)
	1,255,000	Walt Disney Co., (3M USD LIBOR + 0.39%), 0.52%, due 3/4/2022		1,257,941	^(b)
				2,395,938
Miscellaneous Manufacturer 1.4%
	2,255,000	General Electric Capital Corp., (3M USD LIBOR + 1.00%), 1.12%, due 3/15/2023		2,282,702	^(b)
Oil & Gas 1.4%
	120,000	BP Capital Markets America, Inc., (3M USD LIBOR + 0.65%), 0.78%, due 9/19/2022		120,708	^(b)
	2,135,000	BP Capital PLC, (3M USD LIBOR + 0.87%), 0.99%, due 9/16/2021		2,137,204	^(b)
				2,257,912
Pharmaceuticals 3.6%
	2,275,000	AbbVie, Inc., (3M USD LIBOR + 0.65%), 0.80%, due 11/21/2022		2,289,495	^(b)
	1,855,000	AstraZeneca PLC, (3M USD LIBOR + 0.62%), 0.75%, due 6/10/2022		1,864,387	^(b)
	1,810,000	Bristol-Myers Squibb Co., (3M USD LIBOR + 0.38%), 0.54%, due 5/16/2022		1,815,171	^(b)
				5,969,053
Telecommunications 3.2%
		AT&T, Inc.
	115,000	(3M USD LIBOR + 0.89%), 1.04%, due 2/15/2023		116,242	^(b)
	2,280,000	(SOFR + 0.64%), 0.64%, due 3/25/2024		2,285,221	^(b)
	2,780,000	Verizon Communications, Inc., (SOFR + 0.50%), 0.55%, due 3/22/2024		2,798,510	^(b)
				5,199,973
		Total Corporate Bonds (Cost $69,015,591)		69,173,885

See Notes to Schedule of Investments

Consolidated Schedule of Investments Commodity Strategy Fund^

(Unaudited) (cont’d)

NUMBER OF SHARES			VALUE

Short-Term Investments 17.1%
Investment Companies 17.1%
	28,042,586	State Street Institutional U.S. Government Money Market Fund Premier Class, 0.03%^(d) (Cost $28,042,586)	$	28,042,586	(e)
		Total Investments 94.5% (Cost $155,121,269)		155,294,302
		Other Assets Less Liabilities 5.5%		9,116,640	(f)
		Net Assets 100.0%	$	164,410,942

(a)	Rate shown was the discount rate at the date of purchase.
(b)	Variable or floating rate security. The interest rate shown was the current rate as of July 31, 2021 and changes periodically.
(c)	Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or are otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At July 31, 2021, these securities amounted to $16,535,809, which represents 10.1% of net assets of the Fund.
(d)	Represents 7-day effective yield as of July 31, 2021.
(e)	All or a portion of this security is segregated in connection with obligations for futures with a total value of $28,042,586.
(f)	Includes the impact of the Fund's open positions in derivatives at July 31, 2021.

See Notes to Schedule of Investments

Consolidated Schedule of Investments Commodity Strategy Fund^

(Unaudited) (cont’d)

POSITIONS BY COUNTRY

Country	Investments at Value		Percentage of Net Assets
United States	$	110,731,782		67.4	%
Canada		6,242,603		3.8	%
United Kingdom		5,178,538		3.1	%
Germany		2,619,782		1.6	%
Australia		2,479,011		1.5	%
Short-Term Investments and Other Assets—Net		37,159,226		22.6	%
	$	164,410,942		100.0	%

See Notes to Schedule of Investments

Consolidated Schedule of Investments Commodity Strategy Fund^

(Unaudited) (cont’d)

Derivative Instruments

Futures contracts ("futures")

At July 31, 2021, open positions in futures for the Fund were as follows:

Long Futures:

Expiration Date	Number of Contracts	Open Contracts	Notional Amount		Value and Unrealized Appreciation/ (Depreciation)
9/2021	155	Lead	$	9,275,781	$	725,321
9/2021	55	Nickel		6,451,830		810,463
9/2021	6	Palladium		1,593,720		(181,513	)
9/2021	90	Primary Aluminum		5,838,750		385,456
9/2021	115	Zinc		8,725,625		88,691
10/2021	30	Cattle Feeder		2,460,750		2,015
10/2021	130	Platinum		6,814,600		(617,953	)
10/2021	145	Sugar 11		2,908,584		103,671
11/2021	103	Low Sulphur Gasoil		6,306,175		567,781
11/2021	133	Natural Gas		5,296,060		1,163,620
11/2021	130	New York Harbor ULSD		11,983,608		1,028,509
11/2021	116	RBOB Gasoline		10,433,875		1,200,562
11/2021	80	Soybean		5,397,000		(164,813	)
11/2021	118	WTI crude Oil		8,546,740		1,104,724
12/2021	87	Cocoa		2,107,140		(117,857	)
12/2021	23	Coffee ‘C’		1,573,631		266,773
12/2021	76	Copper		8,465,450		(395,505	)
12/2021	399	Corn		10,877,738		(227,432	)
12/2021	97	Cotton No.2		4,335,415		281,266
12/2021	80	Gold 100 Oz.		14,537,600		36,920
12/2021	174	Hard Red Winter Wheat		5,952,975		171,108
12/2021	156	Lead		9,243,000		228,075
12/2021	54	Nickel		6,334,038		249,353
12/2021	86	Primary Aluminum		5,556,675		90,331
12/2021	42	Silver		5,376,000		(377,579	)
12/2021	188	Soybean Meal		6,653,320		(822,299	)
12/2021	71	Soybean Oil		2,685,504		199,321
12/2021	155	Wheat		5,525,750		93,854
12/2021	119	Zinc		9,014,250		251,151
1/2022	151	Brent Crude Oil		11,035,080		(23,264	)
2/2022	122	Lean Hogs		4,097,980		(101,661	)
2/2022	75	Live Cattle		4,116,000		(6,189	)
Total Long Positions			$	209,520,644	$	6,012,900

Short Futures:

Expiration Date	Number of Contracts	Open Contracts	Notional Amount			Value and Unrealized Appreciation/ (Depreciation)
9/2021	155	Lead	$	(9,275,781	)	$	(317,311	)
9/2021	55	Nickel		(6,451,830	)		(263,557	)
9/2021	90	Primary Aluminum		(5,838,750	)		(130,939	)
9/2021	115	Zinc		(8,725,625	)		(282,456	)
12/2021	7	Nickel		(821,079	)		(4,592	)
12/2021	6	Primary Aluminum		(387,675	)		(9,023	)
Total Short Positions			$	(31,500,740	)	$	(1,007,878	)
Total Futures						$	5,005,022

At July 31, 2021, the Fund had $7,754,127 deposited in a segregated account to cover margin requirements on open futures.

The Fund invests in commodity-related instruments through Neuberger Berman Cayman Commodity Fund I Ltd. (the “CS Subsidiary”), which is organized under the laws of the Cayman Islands. Subscription agreements were entered into between the Fund and the CS Subsidiary with the intent that the Fund will remain the sole shareholder of the CS Subsidiary. The CS Subsidiary is governed by its own Board of Directors.

See Notes to Schedule of Investments

Consolidated Schedule of Investments Commodity Strategy Fund^

(Unaudited) (cont’d)

As of July 31, 2021, the value of the Fund’s investment in the CS Subsidiary was as follows:

Investment in

CS Subsidiary

Percentage of

Net Assets

33,737,498

20.5

See Notes to Schedule of Investments

Consolidated Schedule of Investments Commodity Strategy Fund^

(Unaudited) (cont’d)

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of July 31, 2021:

Asset Valuation Inputs	Level 1		Level 2		Level 3		Total

Investments:
U.S. Treasury Obligations	$	—	$	26,996,473	$	—	$	26,996,473
Asset-Backed Securities		—		31,081,358		—		31,081,358
Corporate Bonds^(a)		—		69,173,885		—		69,173,885
Short-Term Investments		—		28,042,586		—		28,042,586
Total Investments	$	—	$	155,294,302	$	—	$	155,294,302

(a)	The Consolidated Schedule of Investments provides information on the industry or sector categorization as well as a Positions by Country summary.

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's derivatives as of July 31, 2021:

Other Financial Instruments	Level 1			Level 2		Level 3		Total
Futures^(a)
Assets	$	9,048,965		$	—	$	—	$	9,048,965
Liabilities		(4,043,943	)		—		—		(4,043,943	)
Total	$	5,005,022		$	—	$	—	$	5,005,022

^(a)	Futures are reported at the cumulative unrealized appreciation/(depreciation) of the instrument.

^	A balance indicated with a "—", reflects either a zero balance or an amount that rounds to less than 1.

See Notes to Schedule of Investments

Schedule of Investments Global Allocation Fund^

(Unaudited) July 31, 2021

NUMBER OF SHARES		VALUE

Common Stocks 60.1%
Australia 1.9%
1,424	APA Group	$	9,959	^(a)
110	Aristocrat Leisure Ltd.		3,361
1,633	Brambles Ltd.		13,925
1,226	Coles Group Ltd.		15,736
23	CSL Ltd.		4,876
2,066	Fortescue Metals Group Ltd.		37,767
782	Goodman Group		12,992
58	REA Group Ltd.		6,881
883	Rio Tinto PLC		74,882
534	Sonic Healthcare Ltd.		15,683
2,611	Stockland		8,431
			204,493
Austria 0.1%
159	OMV AG		8,586
477	Telekom Austria AG		4,068
			12,654
Belgium 0.1%
83	Solvay SA		11,076

Canada 2.1%
771	Bank of Nova Scotia		48,123
1,100	Enbridge, Inc.		43,362	^(b)
346	Great-West Lifeco, Inc.		10,411
321	Hydro One Ltd.		7,925	^(c)
81	Magna Int'l, Inc.		6,791
277	Metro, Inc.		14,365
173	National Bank of Canada		13,241
518	Power Corp. of Canada		16,533
896	Sun Life Financial, Inc.		46,667
103	TELUS Corp.		2,288
279	Toronto-Dominion Bank		18,550
			228,256
China 0.1%
1,844	BOC Hong Kong Holdings Ltd.		5,932

Denmark 0.6%
10	AP Moeller - Maersk A/S Class B		27,771
399	Novo Nordisk A/S Class B		36,903
			64,674
Finland 0.3%
252	Neste OYJ		15,491
1,147	Nordea Bank Abp		13,444
128	Orion OYJ Class B		5,449
			34,384
France 1.6%
94	BNP Paribas SA		5,737
99	Capgemini SE		21,403
184	Cie Generale des Etablissements Michelin SCA		30,056
810	Credit Agricole SA		11,300
27	Hermes International		41,285
27	Kering SA		24,220
152	Publicis Groupe SA		9,596
899	Societe Generale SA		26,368
			169,965
Germany 2.1%
105	Allianz SE		26,157
174	Brenntag SE		17,379
275	Daimler AG		24,558
791	Deutsche Post AG		53,588
179	Fresenius Medical Care AG & Co. KGaA		14,129
166	HeidelbergCement AG		14,725
97	Merck KGaA		19,866
400	SAP SE		57,339
			227,741
Hong Kong 0.4%
3,258	CK Asset Holdings Ltd.		22,199
1,578	Sun Hung Kai Properties Ltd.		22,600
			44,799
Italy 0.1%
748	Assicurazioni Generali SpA		14,951

Japan 3.9%
500	Ajinomoto Co., Inc.		12,698
1,000	Astellas Pharma, Inc.		15,852
143	FUJIFILM Holdings Corp.		10,208
329	Fujitsu Ltd.		55,676
351	Hoya Corp.		49,288
206	Kajima Corp.		2,634
1,353	KDDI Corp.		41,094
300	MEIJI Holdings Co. Ltd.		18,541
1,000	Mitsubishi Electric Corp.		13,454
1,288	Mitsui & Co. Ltd.		29,346
200	Mitsui Chemicals, Inc.		6,335
649	Mizuho Financial Group, Inc.		9,261
7	Nintendo Co. Ltd.		3,599
600	Nippon Telegraph & Telephone Corp.		15,327
200	Nippon Yusen KK		10,720
200	Nitto Denko Corp.		14,767
2,600	Nomura Holdings, Inc.		12,990
1,146	ORIX Corp.		19,973
845	Sekisui House Ltd.		16,641
200	Sony Group Corp.		20,737
183	Taisei Corp.		6,130
279	Toyota Motor Corp.		24,936
300	Yamaha Motor Co. Ltd.		7,449
300	Yamato Holdings Co. Ltd.		8,614
			426,270
Netherlands 1.3%
36	Akzo Nobel NV		4,446
32	ASML Holding NV		24,256
1,834	Koninklijke Ahold Delhaize NV		56,989
1,485	Koninklijke KPN NV		4,876
208	NN Group NV		10,346
134	Randstad NV		9,722
254	Wolters Kluwer NV		28,950
			139,585

See Notes to Schedule of Investments

Schedule of Investments Global Allocation Fund^

(Unaudited) (cont’d)

NUMBER OF SHARES			VALUE

Norway 0.2%
507	DNB ASA	$	10,390
822	Equinor ASA		16,044
			26,434
Russia 0.1%
214	Coca-Cola HBC AG		8,088	^*

Singapore 0.1%
1,180	Singapore Exchange Ltd.		10,346

Spain 0.3%
470	Endesa SA		11,435
530	Iberdrola SA		6,388
253	Naturgy Energy Group SA		6,540
636	Red Electrica Corp. SA		12,618
			36,981
Sweden 0.6%
469	Husqvarna AB, B Shares		6,565
1,887	Skandinaviska Enskilda Banken AB Class A		25,548
397	Skanska AB, B Shares		11,207
1,710	Svenska Handelsbanken AB, A Shares		19,288
			62,608
Switzerland 1.8%
62	Adecco Group AG		3,715
2	Chocoladefabriken Lindt & Spruengli AG		22,410
42	Geberit AG		34,486
60	Kuehne & Nagel International AG		20,242
219	Logitech International SA		23,949
119	Nestle SA		15,081
162	Roche Holding AG		62,656
24	Swisscom AG		14,439
			196,978
United Kingdom 1.4%
9,611	Barclays PLC		23,312
768	Diageo PLC		38,116
1,671	Direct Line Insurance Group PLC		6,915
1,958	J Sainsbury PLC		7,710
2,595	Kingfisher PLC		13,288
25,095	Lloyds Banking Group PLC		15,918
530	Mondi PLC		14,705
350	Persimmon PLC		14,128
629	Sage Group PLC		6,134
156	Schroders PLC		7,930
350	SSE PLC		7,032
44	Unilever PLC		2,539
			157,727
United States 41.0%
95	3M Co.		18,804
408	AbbVie, Inc.		47,450
295	Accenture PLC Class A		93,716
423	Activision Blizzard, Inc.		35,371
27	Adobe, Inc.		16,784	^*
385	Aflac, Inc.		21,175
249	Agilent Technologies, Inc.		38,154
292	AGNC Investment Corp.		4,634
265	Allstate Corp.		34,463
82	Alphabet, Inc. Class A		220,951	^*
28	Amazon.com, Inc.		93,173	^*
256	Amphenol Corp. Class A		18,557
1,549	Annaly Capital Management, Inc.		13,151
60	Anthem, Inc.		23,041
2,106	Apple, Inc.		307,181
298	Applied Materials, Inc.		41,699
68	Berkshire Hathaway, Inc. Class B		18,924	^*
19	BlackRock, Inc.		16,476
231	Blackstone Group, Inc. Class A		26,627
4	Booking Holdings, Inc.		8,713	^*
155	Booz Allen Hamilton Holding Corp.		13,301
586	Bristol-Myers Squibb Co.		39,772
75	Broadcom, Inc.		36,405
64	Burlington Stores, Inc.		21,427	^*
381	CBRE Group, Inc. Class A		36,751	^*
1,010	Cisco Systems, Inc.		55,924
468	Citigroup, Inc.		31,646
431	Cognizant Technology Solutions Corp. Class A		31,691
456	Colgate-Palmolive Co.		36,252
1,633	Comcast Corp. Class A		96,069
939	CSX Corp.		30,348
89	Cummins, Inc.		20,657
426	CVS Health Corp.		35,085
109	D.R. Horton, Inc.		10,402
27	Danaher Corp.		8,032
144	Darden Restaurants, Inc.		21,007
75	Deere & Co.		27,119
80	Dominion Energy, Inc.		5,990
58	Dover Corp.		9,693
174	Duke Energy Corp.		18,289
154	Eastman Chemical Co.		17,359
761	eBay, Inc.		51,908
320	Electronic Arts, Inc.		46,067
163	Eli Lilly & Co.		39,690
506	Emerson Electric Co.		51,050
343	EOG Resources, Inc.		24,991
39	Everest Re Group Ltd.		9,860
166	Exelon Corp.		7,769
92	Extra Space Storage, Inc.		16,021
49	Facebook, Inc. Class A		17,459	^*
218	Ferguson PLC		30,575
351	Fox Corp. Class A		12,517
332	Franklin Resources, Inc.		9,811
170	Garmin Ltd.		26,724
455	General Mills, Inc.		26,781
145	Goldman Sachs Group, Inc.		54,358
214	Hartford Financial Services Group, Inc.		13,615
160	Hershey Co.		28,621
269	Hilton Worldwide Holdings, Inc.		35,360	^*
20	IDEXX Laboratories, Inc.		13,571	^*
109	Illinois Tool Works, Inc.		24,707
65	Int'l Business Machines Corp.		9,162
425	Intel Corp.		22,831
284	International Paper Co.		16,404
428	Interpublic Group of Cos., Inc.		15,134
78	Intuit, Inc.		41,338
326	Iron Mountain, Inc.		14,266
122	J.M. Smucker Co.		15,995
94	Johnson & Johnson		16,187
283	JPMorgan Chase & Co.		42,954
2,190	Kinder Morgan, Inc.		38,062

See Notes to Schedule of Investments

Schedule of Investments Global Allocation Fund^

(Unaudited) (cont’d)

NUMBER OF SHARES			VALUE

65	KLA Corp.	$	22,630
295	Kroger Co.		12,007
25	Lam Research Corp.		15,935
311	LKQ Corp.		15,783	^*
101	Lockheed Martin Corp.		37,539
7	MasterCard, Inc. Class A		2,702
448	Medtronic PLC		58,827
151	MetLife, Inc.		8,713
400	MGM Resorts Int'l		15,012
1,006	Microsoft Corp.		286,619
618	Morgan Stanley		59,316
207	Motorola Solutions, Inc.		46,351
312	Newmont Corp.		19,600
97	NIKE, Inc. Class B		16,248
424	ONEOK, Inc.		22,035
445	Oracle Corp.		38,777
96	Packaging Corp. of America		13,584
17	Pool Corp.		8,123
97	PPG Industries, Inc.		15,861
666	Procter & Gamble Co.		94,725
105	Progressive Corp.		9,992
268	Prologis, Inc.		34,315
551	Public Service Enterprise Group, Inc.		34,289
42	Public Storage		13,124
107	QUALCOMM, Inc.		16,029
156	Quest Diagnostics, Inc.		22,121
48	Reliance Steel & Aluminum Co.		7,543
130	ResMed Inc.		35,334
128	Robert Half International, Inc.		12,571
102	RPM International, Inc.		8,832
19	S&P Global, Inc.		8,146
174	Sempra Energy		22,733
44	Sherwin-Williams Co.		12,805
117	Skyworks Solutions, Inc.		21,588
60	Snap-on, Inc.		13,079
81	Southern Co.		5,173
664	Starbucks Corp.		80,630
78	STERIS PLC		17,000
346	Synchrony Financial		16,269
251	T. Rowe Price Group, Inc.		51,244
95	Target Corp.		24,800
156	TE Connectivity Ltd.		23,005
38	Tesla, Inc.		26,114	^*
435	Texas Instruments, Inc.		82,920
167	Thermo Fisher Scientific, Inc.		90,182
738	TJX Cos., Inc.		50,782
87	Trane Technologies PLC		17,714
101	Travelers Cos., Inc.		15,041
196	Tyson Foods, Inc. Class A		14,006
231	UGI Corp.		10,624
47	Ulta Beauty, Inc.		15,783	^*
270	Union Pacific Corp.		59,065
114	United Parcel Service, Inc. Class B		21,815
166	UnitedHealth Group, Inc.		68,429
40	Vail Resorts, Inc.		12,208	^*
1,025	Verizon Communications, Inc.		57,174
92	Visa, Inc. Class A		22,668
44	W.W. Grainger, Inc.		19,562
81	West Pharmaceutical Services, Inc.		33,350
117	Weyerhaeuser Co.		3,946
1,455	Williams Cos., Inc.		36,448
82	Zoetis, Inc.		16,621
			4,451,512
Total Common Stocks (Cost $5,537,810)			6,535,454

PRINCIPAL AMOUNT

U.S. Treasury Obligations 8.9%
$	35,000	U.S. Treasury Bill, 0.01%, due 12/2/2021	34,994	^(d)
		U.S. Treasury Bonds
40,000		1.13%, due 5/15/2040	35,739
210,000		1.88%, due 2/15/2041–2/15/2051	211,997
20,000		2.25%, due 5/15/2041	21,484
180,000		3.00%, due 5/15/2042–2/15/2047	218,851
10,000		2.75%, due 8/15/2042	11,620
135,000		2.88%, due 8/15/2045–5/15/2049	161,736
80,000		2.38%, due 11/15/2049–5/15/2051	88,563
20,000		2.00%, due 2/15/2050	20,405
30,000		1.38%, due 8/15/2050	26,350
25,000		1.63%, due 11/15/2050	23,371
		U.S. Treasury Inflation-Indexed Bonds
16,370		1.00%, due 2/15/2048	22,641	^(e)
54,553		0.50%, due 1/15/2028	62,615	^(e)
25,000		U.S. Treasury Notes, 1.63%, due 5/15/2031	25,918
Total U.S. Treasury Obligations (Cost $940,961)			966,284

U.S. Government Agency Securities 0.1%
10,000		Federal Home Loan Bank, 5.50%, due 7/15/2036 (Cost $12,635)	15,044

Corporate Bonds 10.9%
Belgium 0.2%
5,000		Anheuser-Busch InBev Worldwide, Inc., 4.60%, due 4/15/2048	6,229
15,000		Anheuser-Busch Cos., LLC/Anheuser-Busch InBev Worldwide, Inc., 4.90%, due 2/1/2046	19,228
			25,457
Canada 0.3%
		Canadian Natural Resources Ltd.
5,000		4.95%, due 6/1/2047	6,291
10,000		2.95%, due 7/15/2030	10,466
10,000		Rogers Communications, Inc., 4.35%, due 5/1/2049	11,869
5,000		Suncor Energy, Inc., 3.75%, due 3/4/2051	5,539
			34,165
France 0.1%
10,000		Total Capital International SA, 3.13%, due 5/29/2050	10,441

Mexico 0.1%
5,000		Grupo Bimbo SAB de CV, 4.70%, due 11/10/2047	6,063	^(f)

See Notes to Schedule of Investments

Schedule of Investments Global Allocation Fund^

(Unaudited) (cont’d)

PRINCIPAL AMOUNT			VALUE


Netherlands 0.1%
$	5,000	Shell Int'l Finance BV, 4.00%, due 5/10/2046	$	5,980

United Kingdom 0.6%
10,000		AstraZeneca PLC, 2.13%, due 8/6/2050		9,085
		BAT Capital Corp.
5,000		4.54%, due 8/15/2047		5,399
10,000		2.73%, due 3/25/2031		10,074
10,000		BP Capital PLC, 4.88%, due 3/22/2030		11,040	^(g)(h)
15,000		Natwest Group PLC, 3.03%, due 11/28/2035		15,133	^(g)
10,000		Vodafone Group PLC, 4.25%, due 9/17/2050		11,820
				62,551
United States 9.5%
10,000		7-Eleven, Inc., 2.50%, due 2/10/2041		9,477	^(f)
5,000		Abbott Laboratories, 4.75%, due 4/15/2043		6,776
		AbbVie, Inc.
10,000		4.05%, due 11/21/2039		11,790
10,000		4.45%, due 5/14/2046		12,356
5,000		Allstate Corp., 4.20%, due 12/15/2046		6,279
10,000		Altria Group, Inc., 3.88%, due 9/16/2046		10,128
10,000		American Int'l Group, Inc., 4.75%, due 4/1/2048		13,078
5,000		American Water Capital Corp., 4.15%, due 6/1/2049		6,234
10,000		Amgen, Inc., 4.40%, due 5/1/2045		12,474
10,000		Appalachian Power Co., Ser. Z, 3.70%, due 5/1/2050		11,401
10,000		Apple, Inc., 3.75%, due 11/13/2047		11,800
5,000		Aqua America, Inc., 4.28%, due 5/1/2049		6,138
		AT&T, Inc.
10,000		3.50%, due 6/1/2041		10,624
10,000		4.50%, due 3/9/2048		11,970
10,000		3.65%, due 6/1/2051		10,598
10,000		Baltimore Gas and Electric Co., 2.90%, due 6/15/2050		10,257
		Bank of America Corp.
10,000		4.24%, due 4/24/2038		11,948	^(g)
10,000		4.08%, due 3/20/2051		12,098	^(g)
5,000		2.97%, due 7/21/2052		5,049	^(g)
10,000		Berkshire Hathaway Finance Corp., 4.25%, due 1/15/2049		12,712
		Boeing Co.
10,000		3.25%, due 2/1/2035		10,338
5,000		5.81%, due 5/1/2050		6,820
5,000		BP Capital Markets America, Inc., 2.77%, due 11/10/2050		4,753
5,000		Bristol-Myers Squibb Co., 4.25%, due 10/26/2049		6,454
		Broadcom, Inc.
5,000		5.00%, due 4/15/2030		5,969
5,000		4.30%, due 11/15/2032		5,774
10,000		3.75%, due 2/15/2051		10,563	^(f)
5,000		Burlington Northern Santa Fe LLC, 4.38%, due 9/1/2042		6,357
10,000		Capital One Financial Corp., 2.36%, due 7/29/2032		10,092	^(g)
10,000		Carrier Global Corp., 2.70%, due 2/15/2031		10,516
15,000		Charter Communications Operating LLC/Charter Communications Operating Capital, 4.80%, due 3/1/2050		17,594
10,000		Cigna Corp., 4.80%, due 8/15/2038		12,672
5,000		Citigroup, Inc., 2.98%, due 11/5/2030		5,348	^(g)
10,000		Coca-Cola Co., 2.50%, due 3/15/2051		9,774
		Comcast Corp.
10,000		4.65%, due 7/15/2042		12,745
10,000		4.00%, due 8/15/2047		11,957
5,000		Commonwealth Edison Co., 3.70%, due 3/1/2045		5,850
10,000		Constellation Brands, Inc., 3.75%, due 5/1/2050		11,368
		Crown Castle Int'l Corp.
5,000		2.90%, due 4/1/2041		4,935
5,000		5.20%, due 2/15/2049		6,632
		CVS Health Corp.
10,000		2.70%, due 8/21/2040		9,964
10,000		5.05%, due 3/25/2048		13,323
5,000		Dell Int'l LLC/EMC Corp., 6.20%, due 7/15/2030		6,479
		Diamondback Energy, Inc.
10,000		3.50%, due 12/1/2029		10,841
5,000		4.40%, due 3/24/2051		5,713
		Discovery Communications LLC
5,000		4.65%, due 5/15/2050		5,935
5,000		4.00%, due 9/15/2055		5,370
		Duke Energy Corp.
5,000		3.75%, due 9/1/2046		5,491
5,000		3.50%, due 6/15/2051		5,362
10,000		Duke Energy Progress LLC, 2.50%, due 8/15/2050		9,622
10,000		Energy Transfer L.P., 5.00%, due 5/15/2050		11,752
10,000		Entergy Arkansas LLC, 2.65%, due 6/15/2051		9,817
10,000		Entergy Texas, Inc., 3.55%, due 9/30/2049		11,175
10,000		Enterprise Products Operating LLC, 3.20%, due 2/15/2052		10,107
5,000		Exelon Corp., 4.70%, due 4/15/2050		6,493
10,000		Exxon Mobil Corp., 4.23%, due 3/19/2040		12,208
		Fox Corp.
5,000		5.48%, due 1/25/2039		6,543
5,000		5.58%, due 1/25/2049		6,903
5,000		General Motors Co., 5.00%, due 4/1/2035		6,137

See Notes to Schedule of Investments

Schedule of Investments Global Allocation Fund^

(Unaudited) (cont’d)

PRINCIPAL AMOUNT				VALUE

$	10,000	Gilead Sciences, Inc., 4.75%, due 3/1/2046	$	13,009
15,000		Goldman Sachs Group, Inc., 4.02%, due 10/31/2038		17,803	^(g)
5,000		HCA, Inc., 5.25%, due 6/15/2049		6,554
5,000		Healthpeak Properties, Inc., 2.88%, due 1/15/2031		5,336
5,000		Home Depot, Inc., 3.35%, due 4/15/2050		5,648
5,000		Humana, Inc., 2.15%, due 2/3/2032		5,022	⁽ⁱ⁾
5,000		Intel Corp., 3.25%, due 11/15/2049		5,362
5,000		Intercontinental Exchange, Inc., 3.00%, due 9/15/2060		4,971
		JPMorgan Chase & Co.
10,000		5.40%, due 1/6/2042		13,996
10,000		4.03%, due 7/24/2048		11,941	^(g)
5,000		3.33%, due 4/22/2052		5,434	^(g)
10,000		Kinder Morgan, Inc., 5.55%, due 6/1/2045		13,150
5,000		Lockheed Martin Corp., 2.80%, due 6/15/2050		5,159
5,000		Lowe's Cos., Inc., 3.00%, due 10/15/2050		5,051
5,000		LYB Int'l Finance BV, 4.88%, due 3/15/2044		6,370
5,000		LYB Int'l Finance III LLC, 4.20%, due 5/1/2050		5,924
5,000		Magellan Midstream Partners L.P., 3.95%, due 3/1/2050		5,499
5,000		Masco Corp., 4.50%, due 5/15/2047		6,134
10,000		McDonald's Corp., 3.63%, due 9/1/2049		11,361
5,000		MetLife, Inc., 4.88%, due 11/13/2043		6,743
10,000		Microsoft Corp., 2.68%, due 6/1/2060		10,083
5,000		MidAmerican Energy Co., 4.25%, due 5/1/2046		6,334
		Morgan Stanley
5,000		4.30%, due 1/27/2045		6,246
10,000		4.38%, due 1/22/2047		12,734
5,000		MPLX L.P., 5.50%, due 2/15/2049		6,504
5,000		Nasdaq, Inc., 2.50%, due 12/21/2040		4,739
10,000		Nevada Power Co., Ser. EE, 3.13%, due 8/1/2050		10,658
5,000		Norfolk Southern Corp., 3.94%, due 11/1/2047		5,850
		Oracle Corp.
10,000		4.00%, due 7/15/2046		11,082
5,000		3.60%, due 4/1/2050		5,221
5,000		3.95%, due 3/25/2051		5,559
		Pacific Gas and Electric Co.
5,000		4.30%, due 3/15/2045		4,734
10,000		3.50%, due 8/1/2050		8,940
10,000		Pacific LifeCorp., 3.35%, due 9/15/2050		10,886	^(f)
10,000		Pfizer, Inc., 2.70%, due 5/28/2050		10,195
5,000		Public Service Co. of Colorado, 4.05%, due 9/15/2049		6,319
5,000		Raytheon Technologies Corp., 4.35%, due 4/15/2047		6,284
10,000		Royalty Pharma PLC, 2.20%, due 9/2/2030		9,953	^(f)
10,000		salesforce.com, Inc., 2.70%, due 7/15/2041		10,217
		Southern California Edison Co.
5,000		Ser. B, 4.88%, due 3/1/2049		6,004
10,000		Ser. 20A, 2.95%, due 2/1/2051		9,315
10,000		Southwestern Public Service Co., 3.15%, due 5/1/2050		10,822
10,000		Starbucks Corp., 3.50%, due 11/15/2050		11,083
5,000		Sysco Corp., 6.60%, due 4/1/2050		7,979
		T-Mobile USA, Inc.
10,000		4.38%, due 4/15/2040		11,846
10,000		4.50%, due 4/15/2050		12,233
5,000		Union Pacific Corp., 3.80%, due 10/1/2051		5,854
5,000		United Technologies Corp., 4.50%, due 6/1/2042		6,374
5,000		UnitedHealth Group, Inc., 4.20%, due 1/15/2047		6,218
10,000		Upjohn, Inc., 3.85%, due 6/22/2040		10,902	^(f)
		Verizon Communications, Inc.
5,000		3.40%, due 3/22/2041		5,403
10,000		4.13%, due 8/15/2046		11,888
10,000		3.70%, due 3/22/2061		11,047
10,000		ViacomCBS, Inc., 4.20%, due 5/19/2032		11,699
5,000		Virginia Electric and Power Co., 2.45%, due 12/15/2050		4,714
5,000		Visa, Inc., 4.30%, due 12/14/2045		6,478
10,000		Walt Disney Co., 4.70%, due 3/23/2050		13,644
		Wells Fargo & Co.
10,000		3.07%, due 4/30/2041		10,476	^(g)
10,000		5.01%, due 4/4/2051		13,926	^(g)
				1,039,843
Total Corporate Bonds (Cost $1,150,591)				1,184,500

NUMBER OF SHARES				VALUE

Exchange-Traded Funds 16.6%
32,263		iShares Core International Aggregate Bond ETF (Cost $1,781,286)		1,801,243

Short-Term Investments 2.7%
Investment Companies 2.7%
290,088		State Street Institutional U.S. Government Money Market Fund Premier Class, 0.03%^(j) (Cost $290,088)		290,088	^(k)
Total Investments 99.3% (Cost $9,713,371)				10,792,613
Other Assets Less Liabilities 0.7%				75,994	^(l)
Net Assets 100.0%			$	10,868,607

See Notes to Schedule of Investments

Schedule of Investments Global Allocation Fund^

(Unaudited) (cont’d)

*	Non-income producing security.
(a)	Stapled security. A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately.
(b)	All or a portion of this security was purchased on a delayed delivery basis.
(c)	Security exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. Regulation S applies to securities offerings that are made outside of the United States and do not involve directed selling efforts in the United States and as such may have restrictions on resale. Total value of all such securities at July 31, 2021 amounted to $7,925, which represents 0.1% of net assets of the Fund.
(d)	Rate shown was the discount rate at the date of purchase.
(e)	Index-linked bond whose principal amount adjusts according to a government retail price index.
(f)	Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or are otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At July 31, 2021, these securities amounted to $57,844, which represents 0.5% of net assets of the Fund.
(g)	Security issued at a fixed coupon rate, which converts to a variable rate at a future date. Rate shown is the rate in effect as of period end.
(h)	Perpetual security. Perpetual securities have no stated maturity date, but they may be called/redeemed by the issuer. The date shown reflects the next call date.
(i)	When-issued security. Total value of all such securities at July 31, 2021, amounted to approximately $5,022, which represents 0.0% of net assets of the Fund.
(j)	Represents 7-day effective yield as of July 31, 2021.
(k)	All or a portion of this security is segregated in connection with obligations for when-issued securities, delayed delivery securities, swaps, futures and/or forward foreign currency contracts with a total value of $290,088.
(l)	Includes the impact of the Fund's open positions in derivatives at July 31, 2021.

See Notes to Schedule of Investments

Schedule of Investments Global Allocation Fund^

(Unaudited) (cont’d)

POSITIONS BY INDUSTRY

Industry	Investments at Value		Percentage of Net Assets
Exchange-Traded Funds*	$	1,801,243		16.6	%
U.S. Treasury Obligations		966,284		8.9	%
Software		489,153		4.5	%
Banks		463,144		4.3	%
Pharmaceuticals		349,737		3.2	%
Technology Hardware, Storage & Peripherals		341,338		3.1	%
Insurance		294,537		2.7	%
Semiconductors & Semiconductor Equipment		284,293		2.6	%
Capital Markets		257,244		2.4	%
Interactive Media & Services		245,291		2.3	%
IT Services		237,018		2.2	%
Media		225,706		2.1	%
Health Care Equipment & Supplies		215,402		2.0	%
Oil, Gas & Consumable Fuels		205,019		1.9	%
Health Care Providers & Services		178,488		1.6	%
Hotels, Restaurants & Leisure		176,291		1.6	%
Food Products		160,196		1.5	%
Internet & Direct Marketing Retail		145,081		1.3	%
Electric		143,308		1.3	%
Metals & Mining		139,792		1.3	%
Household Products		130,977		1.2	%
Life Sciences Tools & Services		128,336		1.2	%
Equity Real Estate Investment Trusts		120,880		1.1	%
Telecommunications		109,298		1.0	%
Food & Staples Retailing		106,807		1.0	%
Chemicals		103,775		0.9	%
Communications Equipment		102,275		0.9	%
Specialty Retail		101,280		0.9	%
Diversified Telecommunication Services		98,172		0.9	%
Trading Companies & Distributors		96,862		0.9	%
Machinery		95,255		0.9	%
Household Durables		95,197		0.9	%
Beverages		92,803		0.9	%
Road & Rail		89,413		0.8	%
Biotechnology		87,762		0.8	%
Entertainment		85,037		0.8	%
Air Freight & Logistics		84,017		0.8	%
Oil & Gas		83,272		0.8	%
Automobiles		83,057		0.8	%
Textiles, Apparel & Luxury Goods		81,753		0.7	%
Real Estate Management & Development		81,550		0.7	%
Electric Utilities		76,629		0.7	%
Aerospace & Defense		72,514		0.7	%
Professional Services		68,259		0.6	%
Diversified Financial Services		65,177		0.6	%
Electrical Equipment		64,504		0.6	%
Multi-Utilities		63,012		0.6	%
Marine		58,733		0.5	%
Building Products		52,200		0.5	%
Pipelines		47,012		0.4	%
Retail		42,620		0.4	%
Electronic Equipment, Instruments & Components		41,562		0.4	%
Wireless Telecommunication Services		41,094		0.4	%
Auto Components		36,847		0.3	%
Containers & Packaging		29,988		0.3	%
Semiconductors		27,668		0.3	%
Gas Utilities		27,123		0.3	%
Agriculture		25,601		0.2	%
Multiline Retail		24,800		0.2	%
Distributors		23,906		0.2	%

See Notes to Schedule of Investments

Schedule of Investments Global Allocation Fund^

(Unaudited) (cont’d)


Industry	Investments at Value		Percentage of Net Assets
Construction & Engineering		19,971		0.2	%
Industrial Conglomerates		18,804		0.2	%
Computers		18,279		0.2	%
Transportation		18,061		0.2	%
Real Estate Investment Trusts		16,903		0.2	%
Building Materials		16,650		0.1	%
Consumer Finance		16,269		0.1	%
U.S. Government Agency Securities		15,044		0.1	%
Construction Materials		14,725		0.1	%
Paper & Forest Products		14,705		0.1	%
Commercial Services & Supplies		13,925		0.1	%
Healthcare – Services		12,772		0.1	%
Water		12,372		0.1	%
Food		7,979		0.1	%
Healthcare – Products		6,776		0.1	%
Auto Manufacturers		6,137		0.1	%
Healthcare Providers & Services		5,022		0.0	%^(a)
Personal Products		2,539		0.0	%^(a)
Short-Term Investments and Other Assets─Net		366,082		3.4	%
	$	10,868,607		100.0	%

^(a)	Represents less than 0.05% of net assets of the Fund.
*	Each position is an investment company registered under the Investment Company Act of 1940, as amended, and is not treated as an industry for purposes of the Fund’s policy on industry concentration. This represents the aggregate of all investment companies.

See Notes to Schedule of Investments

Schedule of Investments Global Allocation Fund^

(Unaudited) (cont’d)

Derivative Instruments

Futures contracts ("futures")

At July 31, 2021, open positions in futures for the Fund were as follows:

Long Futures:

Expiration
Date

Number of
Contracts

Open Contracts

Notional
Amount

Value and
Unrealized
Appreciation/
(Depreciation)

12/2024

Euro, 90 day

2,715,350

4,400

Total Long Positions

2,715,350

4,400

Short Futures:
Expiration Date	Number of Contracts	Open Contracts		Notional Amount			Value and Unrealized Appreciation/ (Depreciation)
9/2021	1	Euro-Bund	$	(209,456	)	$	(5,492	)
9/2021	1	Euro-Buxl Bond, 30 Year		(255,091	)		(16,892	)
9/2021	5	U.S. Treasury Ultra Bond		(997,656	)		(72,029	)
Total Short Positions			$	(1,462,203	)	$	(94,413	)
Total Futures						$	(90,013	)

At July 31, 2021, the Fund has $146,136 deposited in a segregated account to cover margin requirements on open futures.

Forward foreign currency contracts ("forward FX contracts")

At July 31, 2021, open forward FX contracts for the Fund were as follows:

Currency Purchased		Currency Sold			Counterparty		Settlement Date	Net Unrealized Appreciation/ (Depreciation)
107,761	USD		144,000	AUD		GSI	9/22/2021	$	2,062
37,232	USD		49,000	AUD		GSI	9/22/2021		1,265
911,965	BRL		170,000	USD		GSI	8/26/2021		4,560
280,317	BRL		53,000	USD		GSI	8/26/2021		656
53,000	USD		271,175	BRL		GSI	8/26/2021		1,094
53,910	USD		276,682	BRL		GSI	8/26/2021		950
116,669	USD		95,000	EUR		GSI	8/26/2021		3,925
58,100	USD		47,500	EUR		GSI	8/26/2021		1,728
56,875	USD		47,500	EUR		GSI	8/26/2021		503
Total unrealized appreciation								$	16,743

192,000	AUD		144,070	USD		GSI	9/22/2021		(3,137	)
30,000	USD		156,750	BRL		GSI	8/26/2021		(4	)
190,000	EUR		232,443	USD		GSI	8/26/2021		(6,956	)
134,880,000	KRW		120,000	USD		GSI	8/26/2021		(3,065	)
36,000	USD		41,529,600	KRW		GSI	8/26/2021		(4	)
Total unrealized depreciation								$	(13,166	)
Total net unrealized appreciation								$	3,577

Total return basket swap contracts ("total return basket swaps")

At July 31, 2021, the Fund had outstanding total return basket swaps^(a) as follows:

Over-the-counter total return basket swaps - Long ^(b)

Counterparty

Reference Entity

Effective
Variable
Rate^(d)

Spread

Reference Rate

Frequency of
Fund Receipt/
Payment

Maturity Date(s)

Value

GSI

GSCBNBRO

0.54

0.45

1M USD LIBOR

T/1M

8/20/2021

2,066

See Notes to Schedule of Investments

Schedule of Investments Global Allocation Fund^

(Unaudited) (cont’d)

^(a) The following table represents required component disclosures associated with the total return basket swaps:

Reference Entity	Shares		Notional Amount		Unrealized Appreciation/ (Depreciation)			Component Weighting
GSCBNBRO
Nordstrom Inc.		19	$	2,340		93			4.5	%
Kohl's Corp.		12		2,298		92			4.4	%
Wells Fargo & Co.		11		1,837		73			3.5	%
CBRE Group Inc.		5		1,814		72			3.5	%
Simon Property Group Inc.		4		1,785		71			3.4	%
Kimco Realty Corp.		22		1,769		71			3.4	%
Textron Inc.		7		1,740		69			3.3	%
General Electric Co.		33		1,624		65			3.1	%
Regency Centers Corp.		6		1,593		64			3.1	%
PVH Corp.		4		1,539		61			3.0	%
Zions Bancorp NA		8		1,531		61			2.9	%
UDR Inc.		7		1,523		61			2.9	%
American Airlines Group Inc.		19		1,495		60			2.9	%
Essex Property Trust Inc.		1		1,486		59			2.9	%
Equity Residential		5		1,484		59			2.8	%
Federal Realty Investment Trust		3		1,445		58			2.8	%
Carnival Corp.		17		1,406		56			2.7	%
SL Green Realty Corp.		5		1,398		56			2.7	%
Ralph Lauren Corp.		4		1,388		55			2.7	%
Prudential Financial Inc.		4		1,384		55			2.7	%
Boston Properties Inc.		3		1,382		55			2.7	%
Loews Corp.		7		1,372		55			2.6	%
Marriott International Inc./MD		2		1,365		54			2.6	%
Norwegian Cruise Line Holdings Ltd.		15		1,356		54			2.6	%
Alaska Air Group Inc.		6		1,348		54			2.6	%
Huntington Bancshares Inc./OH		25		1,331		53			2.6	%
Host Hotels & Resorts Inc.		22		1,330		53			2.6	%
US Bancorp		6		1,297		52			2.4	%
Raytheon Technologies Corp.		4		1,287		51			2.4	%
United Airlines Holdings Inc.		7		1,250		50			2.4	%
Boeing Co./The		2		1,238		49			2.4	%
Royal Caribbean Cruises Ltd.		4		1,195		48			2.3	%
Vornado Realty Trust		7		1,169		48			2.2	%
Southwest Airlines Co.		6		1,164		47			2.2	%
Delta Air Lines Inc.		8		1,159		46			2.2	%
			$	52,122	$	2,080
Accrued Net Interest Receivable/(Payable)						(14	)
					$	2,066
Total Return Basket Swaps Long, at value					$	2,066

Over-the-counter total return basket swaps - Short ^(c)

Counterparty

Reference Entity

Effective
Variable
Rate^(d)

Spread

Reference Rate

Frequency of
Fund Receipt/
Payment

Maturity Date(s)

Value

GSI

GSCBNBST

0.09

—

1M USD LIBOR

1M/T

8/20/2021

(2,303

)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting
GSCBNBST
Cloudflare Inc.		(12	)	$	(3,119	)		(131	)		5.8	%
Roku Inc.		(3	)		(2,698	)	(113		)		5.0	%
Target Corp.		(3	)		(2,090	)	(88		)		3.9	%
Twitter Inc.		(12	)		(1,859	)	(78		)		3.5	%
Peloton Interactive Inc.		(7	)		(1,821	)	(77		)		3.4	%
Advanced Micro Devices Inc.		(6	)		(1,512	)	(64		)		2.8	%
Shopify Inc.		—			(1,508	)	(63		)		2.8	%
DocuSign Inc.		(2	)		(1,491	)	(63		)		2.8	%
Zoom Video Communications Inc.		(2	)		(1,472	)	(62		)		2.7	%
STERIS PLC		(3	)		(1,358	)	(57		)		2.5	%

See Notes to Schedule of Investments

Schedule of Investments Global Allocation Fund^

(Unaudited) (cont’d)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting
Domino's Pizza Inc.		(1	)	$	(1,325	)		(56	)		2.5	%
Charter Communications Inc.		(1	)		(1,306	)		(55	)		2.4	%
CVS Health Corp.		(7	)		(1,293	)		(54	)		2.4	%
Costco Wholesale Corp.		(1	)		(1,288	)		(54	)		2.4	%
Constellation Brands Inc.		(2	)		(1,232	)		(52	)		2.3	%
Altice USA Inc.		(18	)		(1,232	)		(52	)		2.3	%
Dollar General Corp.		(2	)		(1,203	)		(51	)		2.2	%
Kroger Co./The		(12	)		(1,150	)		(48	)		2.1	%
BJ's Wholesale Club Holdings Inc.		(10	)		(1,138	)		(48	)		2.1	%
NetEase Inc.		(5	)		(1,111	)		(47	)		2.1	%
Amazon.com Inc.		—			(1,074	)		(45	)		2.0	%
Take-Two Interactive Software Inc.		(3	)		(1,070	)		(45	)		2.0	%
Walmart Inc.		(3	)		(1,067	)		(45	)		2.0	%
Intel Corp.		(9	)		(1,065	)		(45	)		2.0	%
Electronic Arts Inc.		(3	)		(1,039	)		(44	)		1.9	%
Akamai Technologies Inc.		(4	)		(1,027	)		(43	)		1.9	%
Netflix Inc.		(1	)		(1,026	)		(43	)		1.9	%
Zynga Inc.		(45	)		(1,021	)		(43	)		1.9	%
Activision Blizzard Inc.		(5	)		(1,006	)		(42	)		1.9	%
Keurig Dr Pepper Inc.		(13	)		(1,005	)		(42	)		1.9	%
Verizon Communications Inc.		(8	)		(963	)		(40	)		1.8	%
RingCentral Inc.		(1	)		(945	)		(40	)		1.8	%
AT&T Inc.		(15	)		(941	)		(40	)		1.8	%
General Mills Inc.		(7	)		(902	)		(38	)		1.7	%
Conagra Brands Inc.		(12	)		(890	)		(37	)		1.7	%
Kellogg Co.		(6	)		(890	)		(37	)		1.7	%
Campbell Soup Co.		(9	)		(868	)		(36	)		1.6	%
Spotify Technology SA		(2	)		(824	)		(35	)		1.5	%
Just Eat Takeaway.com NV		(20	)		(817	)		(34	)		1.5	%
Clorox Co./The		(2	)		(775	)		(32	)		1.4	%
Citrix Systems Inc.		(3	)		(697	)		(29	)		1.3	%
Teladoc Health Inc.		(2	)		(686	)		(29	)		1.3	%
salesforce.com Inc.		(1	)		(628	)		(26	)		1.2	%
Interactive Brokers Group Inc.		(4	)		(623	)		(26	)		1.2	%
Fastly Inc.		(5	)		(590	)		(25	)		1.1	%
				$	(53,645	)	$	(2,254	)
Accrued Net Interest Receivable/(Payable)								(49	)
							$	(2,303	)
Total Return Basket Swaps Short, at value							$	(2,303	)

^(b)	The Fund pays a specified rate based on a reference rate plus or minus a spread, and receives the total return on the reference entity. The receipts may be denominated in various foreign currencies based on the local currencies of the positions within the swaps.
^(c)	The Fund receives a specified rate based on a reference rate plus or minus a spread, and pays the total return on the reference entity. The receipts may be denominated in various foreign currencies based on the local currencies of the positions within the swaps.
^(d)	Effective rate at July 31, 2021.

See Notes to Schedule of Investments

Schedule of Investments Global Allocation Fund^

(Unaudited) (cont’d)

Total return swap contracts ("total return swaps")

At July 31, 2021, the Fund had outstanding total return swaps as follows:

Over-the-counter total return swaps - Long ^(a)

Counterparty	Reference Entity	Notional Amount		Maturity Date	Variable-Rate^(c)			Spread			Reference Rate	Frequency of Fund Receipt/ Payment		Unrealized Appreciation/ (Depreciation)		Accrued Net Interest Receivable/ (Payable)			Value
GSI	iShares China Large-Cap ETF	USD	34,418	1/27/2022		0.29	%		0.20	%	1M USD LIBOR		T/1M	$	1,223	$	(1	)	$	1,222
GSI	Vaneck Vectors Semiconductor ETF	USD	57,365	1/12/2022		0.10	%		—%		1M USD LIBOR		T/1M		603		(3	)		600
Total														$	1,826	$	(4	)	$	1,822

Over-the-counter total return swaps - Short ^(b)

Counterparty			Reference Entity		Notional Amount				Maturity Date		Variable-Rate^(c)				Spread				Reference Rate		Frequency of Fund Receipt/ Payment				Unrealized Appreciation/ (Depreciation)				Accrued Net Interest Receivable/ (Payable)				Value
GSI			iShares MSCI Emerging Markets ETF		USD	(33,850	)		1/27/2022			(0.41	)%			(0.50	)%		1M USD LIBOR			1M/T			$	(827	)		$	(1	)		$	(828	)

^(a)	The Fund pays a specified rate based on a reference rate plus or minus a spread, and receives the total return on the reference entity.
^(b)	The Fund receives a specified rate based on a reference rate plus or minus a spread, and pays the total return on the reference entity.
^(c)	Effective rate at July 31, 2021.

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of July 31, 2021:

Asset Valuation Inputs	Level 1		Level 2		Level 3^(b)(c)		Total
Investments:
Common Stocks^(a)	$	6,535,454	$	—	$	—	$	6,535,454
U.S. Treasury Obligations		—		966,284		—		966,284
U.S. Government Agency Securities		—		15,044		—		15,044
Corporate Bonds^(a)		—		1,184,500		—		1,184,500
Exchange-Traded Funds		1,801,243		—		—		1,801,243
Short-Term Investments		—		290,088		—		290,088
Total Investments	$	8,336,697	$	2,455,916	$	—	$	10,792,613

^(a)	The Schedule of Investments provides a geographic categorization as well as a Positions by Industry summary.
^(b)	The reconciliation between beginning and ending balances of investments in which unobservable inputs (Level 3) were used is not presented as all values rounded to less than $1,000.
^(c)	At the beginning of the year, these investments were valued in accordance with procedures approved by the Board of Trustees. The Fund held no Level 3 investments in options purchased at July 31, 2021.

See Notes to Schedule of Investments

Schedule of Investments Global Allocation Fund^

(Unaudited) (cont’d)

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's derivatives as of July 31, 2021:

Other Financial Instruments	Level 1			Level 2			Level 3^(b)		Total
Futures^(a)
Assets	$	4,400		$	—		$	—	$	4,400
Liabilities		(94,413	)		—			—		(94,413	)
Forward FX Contracts^(a)
Assets		—			16,743			—		16,743
Liabilities		—			(13,166	)		—		(13,166	)
Swaps
Assets		—			3,888			—		3,888
Liabilities		—			(3,079	)		—		(3,079	)
Total	$	(90,013	)	$	4,386		$	—	$	(85,627	)

^(a)	Futures and forward FX contracts are reported at the cumulative unrealized appreciation/(depreciation) of the instrument.

^(b)

The following is a reconciliation between the beginning and ending balances of investments in which unobservable inputs (Level 3) were used in determining value:

(000’s omitted)	Beginning balance, as of 11/1/2020			Accrued discounts/ (premiums)		Realized gain/ (loss)		Change in unrealized appreciation/ (depreciation)		Purchases/ Closing of options		Sales/ Writing of options		Transfers into Level 3		Transfers out of Level 3		Balance, as of 7/31/2021		Net change in unrealized appreciation/ (depreciation) from investments still held as of 7/31/2021
Other Financial Instruments
Options Written^(c)	$	(14	)	$	—	$	10	$	4	$	—	$	—	$	—	$	—	$	—	$	—
Total	$	(14	)	$	—	$	10	$	4	$	—	$	—	$	—	$	—	$	—	$	—

^(c)

At the beginning of the year, these investments were valued in accordance with procedures approved by the Board of Trustees. The Fund held no Level 3 derivative instruments at July 31, 2021.

Investments in Affiliates^(a)

	Value at October 31, 2020		Purchase Cost		Sales Proceeds /Return of Capital		Change in Net Unrealized Appreciation/ (Depreciation) from Investments in Affiliated Persons			Net Realized Gain/(Loss) from Investments in Affiliated Persons			Distributions from Investments in Affiliated Persons^(b)		Shares held at July 31, 2021		Value at July 31, 2021
Neuberger Berman Commodity Strategy Institutional Class	$	420,889	$	—	$	466,458	$	77,029		$	(31,460	)	$	—	$	—	$	—
Neuberger Berman Emerging Markets Equity Fund Class R6		563,538		3,119		705,748		(93,454	)		232,545			3,119		—		—
Neuberger Berman Genesis Fund Class R6		351,639		15,735		438,106		(48,995	)		119,727			15,735		—		—
Neuberger Berman International Select Fund Class R6		840,317		14,709		998,385		(119,034	)		262,393			14,709		—		—
Sub-total for affiliates no longer held as of 7/31/21	$	2,176,383	$	33,563	$	2,608,697	$	(184,454	)	$	583,205		$	33,563	$	—	$	—

See Notes to Schedule of Investments

Schedule of Investments Global Allocation Fund^

(Unaudited) (cont’d)

^(a)

Affiliated persons, as defined in the Investment Company Act of 1940, as amended. Neuberger Berman Alternative Funds and Neuberger Berman Investment Advisers LLC ("NBIA") have obtained an exemptive order from the Securities and Exchange Commission that permits the Fund to invest in both affiliated and unaffiliated investment companies, including exchange-traded funds, in excess of the limits in Section 12(1)(A) of the 1940 Act, subject to the terms and conditions of such order.

^(b)

Distributions received include distributions from net investment income and net realized capital gains, if any, from the other investment companies managed by NBIA.

A balance indicated with a "—", reflects either a zero balance or an amount that rounds to less than 1.

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) July 31, 2021

Number of Shares		Value

Long Positions 97.8%
Common Stocks 85.4%
Aerospace & Defense 1.0%
216,906	L3Harris Technologies, Inc.	$	49,181,266
Air Freight & Logistics 0.7%
130,600	FedEx Corp.		36,561,470
Automobiles 0.7%
1,733,333	Lucid Group, Inc.		37,162,659	^*(a)(o)(p)
Banks 1.8%
520,774	Citigroup, Inc.		35,214,738
381,146	JPMorgan Chase & Co.		57,850,340
			93,065,078
Beverages 2.0%
2,811,385	Keurig Dr Pepper, Inc.		98,988,866
Capital Markets 5.6%
1,363,237	Apollo Global Management, Inc.		80,240,130
29,000	BlackRock, Inc.		25,147,930	^(b)
322,919	Blackstone Group, Inc. Class A		37,222,873
987,837	Brookfield Asset Management, Inc. Class A		53,333,320
298,500	CME Group, Inc.		63,320,805	^(b)
306,818	Tradeweb Markets, Inc. Class A		26,610,325
			285,875,383
Chemicals 2.6%
187,400	Air Products & Chemicals, Inc.		54,539,022
931,000	Ashland Global Holdings, Inc.		79,200,170
			133,739,192
Commercial Services & Supplies 2.9%
2,158,660	LegalZoom.com, Inc.		74,171,558	^*(a)(p)
15,872	LegalZoom.com, Inc.		583,772	^*
502,185	Waste Management, Inc.		74,453,948
			149,209,278
Containers & Packaging 0.4%
106,845	Avery Dennison Corp.		22,510,105
Distributors 0.2%
160,400	LKQ Corp.		8,140,300	^*
Diversified Consumer Services 0.1%
365,595	OneSpaWorld Holdings Ltd.		3,612,079	^*
Diversified Financial Services 0.7%
732,451	Equitable Holdings, Inc.		22,610,762
1,800,000	Sunlight Financial Holdings, Inc.		14,580,000	^*(a)(o)(p)
			37,190,762
Diversified Telecommunication Services 0.3%
472,631	Frontier Communications Parent, Inc.		14,136,393	^*
Electric Utilities 2.2%
1,410,371	NextEra Energy, Inc.		109,867,901
Electrical Equipment 0.7%
1,059,800	nVent Electric PLC		33,500,278
Electronic Equipment, Instruments & Components 2.5%
357,800	Amphenol Corp. Class A		25,936,922
241,389	CDW Corp.		44,258,673
394,129	TE Connectivity Ltd.		58,122,204
			128,317,799
Entertainment 1.9%
661,397	Activision Blizzard, Inc.		55,306,017	^(b)
122,100	Spotify Technology SA		27,920,607	^*
80,194	Walt Disney Co.		14,115,748	^*
			97,342,372
Equity Real Estate Investment Trusts 0.7%
99,815	SBA Communications Corp.		34,035,917
Food & Staples Retailing 1.1%
40,100	Costco Wholesale Corp.		17,231,772
261,593	Walmart, Inc.		37,290,082
			54,521,854
Food Products 2.5%
777,540	Lamb Weston Holdings, Inc.		51,916,346
611,324	Mondelez International, Inc. Class A		38,672,356
668,204	Utz Brands, Inc.		15,128,139	^(c)
1,000,000	Whole Earth Brands, Inc.		12,860,000	^*
576,200	Whole Earth Brands, Inc.		7,409,932	^*
			125,986,773
Health Care Equipment & Supplies 1.9%
110,475	Becton, Dickinson & Co.		28,253,981
512,282	Medtronic PLC		67,267,750
			95,521,731
Health Care Providers & Services 2.5%
130,100	Humana, Inc.		55,404,386
173,200	UnitedHealth Group, Inc.		71,396,504	^(d)
			126,800,890
Hotels, Restaurants & Leisure 3.5%
312,247	Expedia Group, Inc.		50,231,175	^*
179,277	Marriott International, Inc. Class A		26,170,856	^*
418,224	McDonald's Corp.		101,507,147
			177,909,178
Household Products 0.5%
175,900	Procter & Gamble Co.		25,018,257
Industrial Conglomerates 0.6%
124,462	Honeywell International, Inc.		29,097,971
Interactive Media & Services 4.0%
45,870	Alphabet, Inc. Class A		123,598,091	^*
218,331	Facebook, Inc. Class A		77,791,335	^*(b)
			201,389,426
Internet & Direct Marketing Retail 3.4%
37,505	Amazon.com, Inc.		124,801,263	^*(b)
535,105	Chewy, Inc. Class A		44,788,288	^*(c)
			169,589,551

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

Number of shares		Value

IT Services 4.6%
399,600	Fidelity National Information Services, Inc.	$	59,560,380
1,759,300	Paya Holdings, Inc. Class A		20,214,357	^*
720,900	Payoneer Global, Inc.		6,675,534	^*(a)(o)(p)
700,441	Payoneer Global, Inc.		6,612,163	^*(c)
670,997	Repay Holdings Corp.		16,714,535	^*
198,700	Visa, Inc. Class A		48,957,693	^(b)
380,094	WEX, Inc.		72,115,235	^*
			230,849,897
Life Sciences Tools & Services 0.8%
74,800	Thermo Fisher Scientific, Inc.		40,392,748
Machinery 0.4%
72,000	Parker-Hannifin Corp.		22,466,160
Multi-Utilities 1.4%
1,214,813	CenterPoint Energy, Inc.		30,929,139	^(b)
417,548	WEC Energy Group, Inc.		39,307,969
			70,237,108
Multiline Retail 0.6%
290,277	Dollar Tree, Inc.		28,966,742	^*
Oil, Gas & Consumable Fuels 1.6%
306,313	Chevron Corp.		31,185,727
1,158,700	Enbridge, Inc.		45,594,845
329	Venture Global LNG, Inc. Ser. C		2,277,338	^*(a)(e)(p)
			79,057,910
Pharmaceuticals 0.6%
180,300	Johnson & Johnson		31,047,660
Professional Services 4.6%
2,584,217	Dun & Bradstreet Holdings, Inc.		54,165,188	^*
320,868	Equifax, Inc.		83,618,201
793,800	IHS Markit Ltd.		92,747,592	^(b)
			230,530,981
Road & Rail 1.8%
436,005	Uber Technologies, Inc.		18,948,777	^*
320,700	Union Pacific Corp.		70,156,332
			89,105,109
Semiconductors & Semiconductor Equipment 0.7%
78,400	Analog Devices, Inc.		13,125,728
29,397	ASML Holding NV		22,539,856
			35,665,584
Software 14.1%
170,109	Adobe, Inc.		105,744,858	^*
1,250,600	Anaplan, Inc.		71,534,320	^*
68,149	AvidXchange, Inc.		5,051,954	^*(a)(e)(p)
85,152	DoubleVerify Holdings, Inc.		2,946,259	^*
429,950	DoubleVerify Holdings, Inc.		14,080,862	^*(a)(p)
1,308,129	Duck Creek Technologies, Inc.		57,466,107	^*
393,303	Microsoft Corp.		112,055,958
466,458	Paycor HCM, Inc.		12,827,595	^*
1,517,671	Paycor HCM, Inc.		38,214,956	^*(a)(p)
66,817	Riskified Ltd. Class A		1,832,122	^*
455,371	salesforce.com, Inc.		110,167,906	^*
137,682	ServiceNow, Inc.		80,941,871	^*
391,924	Splunk, Inc.		55,645,369	^*
203,585	Workday, Inc. Class A		47,720,324	^*(b)
			716,230,461
Specialty Retail 4.3%
188,590	Asbury Automotive Group, Inc.		38,747,701	^*
83,074	Floor & Decor Holdings, Inc. Class A		10,135,859	^*
241,847	Home Depot, Inc.		79,371,767	^(b)
13,789	O'Reilly Automotive, Inc.		8,326,350	^*(b)
799,170	TJX Cos., Inc.		54,990,888
82,673	Ulta Beauty, Inc.		27,761,593	^*
			219,334,158
Technology Hardware, Storage & Peripherals 1.9%
675,432	Apple, Inc.		98,518,511
Textiles, Apparel & Luxury Goods 1.0%
236,985	NIKE, Inc. Class B		39,697,357
261,100	Tapestry, Inc.		11,044,530	^*
			50,741,887

NUMBER OF UNITS

Holding Companies - Diversified 0.2%
1,082,400	Independence Holdings Corp. (Cost $10,824,000)	10,845,648	^*
Total Common Stocks (Cost $3,046,573,180)		4,332,263,293
Preferred Stocks 2.5%
Hotels, Restaurants & Leisure 0.2%
626,667	Sweetgreen, Inc. Ser. D	8,585,338	^*(a)(e)(p)
59,031	Sweetgreen, Inc. Ser. I	1,009,430	^*(a)(e)(p)
51,075	Sweetgreen, Inc. Ser. J	873,383	^*(a)(e)(p)
		10,468,151
IT Services 0.3%
959,038	Cybereason, Inc. Ser. F	4,750,000	^*(a)(e)(p)
658,071	Druva, Inc. Ser. 4 Preferred Shares	6,167,968	^*(a)(e)(p)
480,112	Druva, Inc. Ser. 5 Preferred Shares	4,499,994	^*(a)(e)(p)
		15,417,962
Software 0.5%
272,596	AvidXchange, Inc. Ser. F	20,207,814	^*(a)(e)(p)
78,686	Signifyd, Inc. Ser. A	2,427,463	^*(a)(e)(p)
180,619	Signifyd, Inc. Ser. Seed	5,572,096	^*(a)(e)(p)
		28,207,373
Specialty Retail 1.5%
2,076,345	Fanatics, Inc. Ser. E	72,402,150	^*(a)(e)(p)
52,193	Fanatics, Inc. Ser. F	1,819,970	^*(a)(e)(p)
		74,222,120
Total Preferred Stocks (Cost $81,162,834)		128,315,606

Principal Amount

Loan Assignments^(f) 0.7%
Business Equipment & Services 0.2%
	7,663,221	Cyxtera DC Holdings, Inc., Term Loan B, (6M USD LIBOR + 3.00%), 4.00%, due 5/1/2024	7,478,000
Leisure Goods - Activities - Movies 0.5%
	25,000,000	OneSpaWorld, LLC, Second Lien Term Loan, (3M USD LIBOR + 7.50%), 7.63%, due 3/18/2027	25,500,000	^(a)(e)(p)
Total Loan Assignments (Cost $31,592,820)			32,978,000

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

Principal Amount				Value

Corporate Bonds 2.9%
Commercial Services 0.5%
$	23,530,000	APX Group, Inc., 7.63%, due 9/1/2023	$	24,068,836
Electric 0.1%
3,716,000		Wisconsin Energy Corp., (3M USD LIBOR + 2.11%), 2.27%, due 5/15/2067		3,488,358	^(f)
Entertainment 0.0%^(g)
910,000		Cinemark USA, Inc., 5.88%, due 3/15/2026		894,075	^(h)
Gas 0.2%
12,105,000		Rockpoint Gas Storage Canada Ltd., 7.00%, due 3/31/2023		12,316,837	^(h)
Internet 0.2%
		Uber Technologies, Inc.
1,850,000		7.50%, due 9/15/2027		2,021,495	^(h)
5,555,000		6.25%, due 1/15/2028		5,993,845	^(c)(h)
				8,015,340
Miscellaneous Manufacturer 0.8%
		Anagram International, Inc./Anagram Holdings LLC
23,064,878		10.00% Cash & 5.00% PIK, due 8/15/2025		26,063,312	^(h)(i)
15,365,358		5.00% Cash & 5.00% PIK, due 8/15/2026		15,058,051	^(h)(i)
				41,121,363
Pipelines 0.0%^(g)
1,730,000		Enterprise Products Operating LLC, (3M USD LIBOR + 2.78%), 2.91%, due 6/1/2067		1,608,900	^(f)
Retail 0.5%
27,199,035		Party City Holdings, Inc., (6M USD LIBOR + 5.00%, Floor 5.75%), 5.75%, due 7/15/2025		25,703,088	^(f)(h)
Specialty Retail 0.6%
27,200,000		Petsmart, Inc./Petsmart Finance Corp., 7.75%, due 2/15/2029		29,818,544	^(h)
Total Corporate Bonds (Cost $105,692,817)				147,035,341
Convertible Bonds 0.2%
Health Care Providers & Services 0.1%
$	5,915,000	Oak Street Health, Inc., 0.00%, due 3/15/2026		6,264,805	^(h)
Internet 0.1%
1,835,000		Uber Technologies, Inc., 0.00%, due 12/15/2025		1,790,042	^(h)
Total Convertible Bonds (Cost $7,750,000)				8,054,847

Number of Units

Master Limited Partnerships and Limited Partnerships 2.0%
Multi-Utilities 0.8%
755,300	Brookfield Infrastructure Partners L.P.	40,846,624
Oil, Gas & Consumable Fuels 1.2%
2,602,100	Enterprise Products Partners L.P.	58,729,397
Professional Services 0.0%(g)
2,584,217	CC DNB Holdings, L.P.	—	*^(a)(o)**
Total Master Limited Partnerships and Limited Partnerships (Cost $79,567,482)		99,576,021

Number of Shares

Warrants 0.1%
Diversified Consumer Services 0.1%
52,600		OneSpaWorld Holdings Ltd. Expires 3/19/2024	132,026	*
653,334		OneSpaWorld Holdings Ltd. Expires 6/12/2025	3,338,537	^*(a)(o)
			3,470,563
Food Products 0.0%^(g)
701,800		Whole Earth Brands, Inc. Expires 6/25/2025	1,228,150	*
301,400		Whole Earth Brands, Inc. Expires 6/25/2025	527,450	*
			1,755,600
Hotels, Restaurants & Leisure 0.0%^(g)
1		Sweetgreen, Inc. Ser. J Expires 1/21/2026	*—^(a)(e)(p)**
Total Warrants (Cost $433,413)			5,226,163
Purchased Options^(j) 0.0%^(g) (Cost $6,687,714)			1,251,938
Short-Term Investments 3.8%
Investment Companies 3.8%
155,809,575		State Street Institutional U.S. Government Money Market Fund Premier Class, 0.03%^(k)	155,809,575	(d)
38,303,955		State Street Navigator Securities Lending Government Money Market Portfolio, 0.04%^(k)	38,303,955	(l)
Total Short-Term Investments (Cost $194,113,530)			194,113,530
Total Long Positions (97.8%) (Cost $3,553,573,790)			4,948,814,739
Short Positions ((9.8)%)^(m)
Common Stocks Sold Short (7.5)%
Aerospace & Defense (0.1)%
(16,200	)	Northrop Grumman Corp.	(5,880,924	)
Automobiles (0.3)%
(97,100	)	NIO, Inc. ADR	(4,338,427	)*
(11,650	)	Tesla, Inc.	(8,005,880	)*
(100,000	)	XPeng, Inc. ADR	(4,053,000	)*
			(16,397,307	)
Capital Markets (0.3)%
(498,300	)	Franklin Resources, Inc.	(14,724,765	)
Electric Utilities (0.2)%
(143,900	)	Southern Co.	(9,190,893	)
Equity Real Estate Investment Trusts (0.3)%
(349,900	)	Iron Mountain, Inc.	(15,311,624	)
Food & Staples Retailing (0.8)%
(665,600	)	Kroger Co.	(27,089,920	)
(533,718	)	Sprouts Farmers Market, Inc.	(13,118,788	)*
			(40,208,708	)

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

Number of Shares				Value

Food Products (0.3)%
(294,167	)	Campbell Soup Co.	$	(12,860,981	)
Holding Companies - Diversified (0.1)%
(409,511	)	Mudrick Capital Acquisition Corp. II, Class A		(4,406,338	)*
Hotels, Restaurants & Leisure (0.6)%
(47,671	)	Domino's Pizza, Inc.		(25,050,634	)
(55,800	)	Shake Shack, Inc. Class A		(5,610,132	)*
				(30,660,766	)
Household Products (0.2)%
(113,100	)	Church & Dwight Co., Inc.		(9,792,198	)
Industrial Conglomerates (0.4)%
(114,099	)	3M Co.		(22,584,756	)
Insurance (0.2)%
(101,278	)	Lemonade, Inc.		(8,817,263	)*
Internet & Direct Marketing Retail (0.1)%
(34,071	)	DoorDash, Inc. Class A		(5,938,235	)*
IT Services (0.7)%
(92,000	)	Automatic Data Processing, Inc.		(19,285,960	)
(668,000	)	Western Union Co.		(15,504,280	)
				(34,790,240	)
Leisure Products (0.2)%
(78,798	)	Polaris, Inc.		(10,328,054	)
Multi-Utilities (0.5)%
(335,260	)	Consolidated Edison, Inc.		(24,732,130	)
Software (1.9)%
(271,289	)	fuboTV, Inc.		(7,064,366	)*
(122,000	)	Guidewire Software, Inc.		(14,054,400	)*
(88,000	)	Oracle Corp.		(7,668,320	)
(32,086	)	Paycom Software, Inc.		(12,834,400	)*
(136,200	)	Sailpoint Technologies Holdings, Inc.		(6,808,638	)*
(180,000	)	SAP SE ADR		(25,869,600	)
(61,099	)	Zoom Video Communications, Inc. Class A		(23,101,532	)*
				(97,401,256	)
Specialty Retail (0.3)%
(31,405	)	Carvana Co.		(10,601,072	)*
(23,211	)	GameStop Corp. Class A		(3,739,756	)*
				(14,340,828	)
Total Common Stocks Sold Short (Proceeds $(341,847,842))				(378,367,266	)

Principal Amount

Corporate Bonds Sold Short (1.0)%
Computers (0.1)%
$	(5,000,000)	Banff Merger Sub, Inc., 9.75%, due 9/1/2026	(5,269,300	)(h)
Lodging (0.2)%
(7,000,000)		Boyd Gaming Corp., 4.75%, due 12/1/2027	(7,271,250	)
Media (0.5)%
(5,000,000)		Clear Channel Worldwide Holdings, Inc., 5.13%, due 8/15/2027	(5,150,000	)(h)
(5,000,000)		Entercom Media Corp., 6.50%, due 5/1/2027	(5,187,700	)(h)
(10,000,000)		iHeartCommunications, Inc., 8.38%, due 5/1/2027	(10,662,500	)
$	(6,000,000)	Univision Communications, Inc., 5.13%, due 2/15/2025	(6,116,340)	^(h)
			(27,116,540	)
Retail (0.2)%
(10,000,000)		Sally Holdings LLC/Sally Capital, Inc., 5.63%, due 12/1/2025	(10,327,700	)
Total Corporate Bonds Sold Short (Proceeds $(46,929,131))			(49,984,790	)

Number of Shares

Exchange-Traded Funds Sold Short (1.3)%
	(178,300)	iShares iBoxx $ Investment Grade Corporate Bond ETF		(24,250,583	)
(436,147)		SPDR S&P Retail ETF		(41,551,725	)
Total Exchange-Traded Funds Sold Short (Proceeds $(60,062,694))				(65,802,308	)
Total Short Positions (Proceeds $(448,839,667))				(494,154,364	)
Total Investments 88.0% (Cost $3,104,734,123)				4,454,660,375
Other Assets Less Liabilities 12.0%				607,675,460	⁽ⁿ⁾
Net Assets 100.0%			$	5,062,335,835

*	Non-income producing security.
(a)	Security fair valued as of July 31, 2021 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at July 31, 2021 amounted to $349,369,004, which represents 6.9% of net assets of the Fund.
(b)	All or a portion of the security is pledged as collateral for options written.
(c)	The security or a portion of this security is on loan at July 31, 2021. Total value of all such securities at July 31, 2021 amounted to approximately $36,573,661 for the Fund.
(d)	All or a portion of this security is segregated in connection with obligations for securities sold short, options written, swaps and/or futures with a total value of $227,206,079.
(e)	Value determined using significant unobservable inputs.
(f)	Variable or floating rate security. The interest rate shown was the current rate as of July 31, 2021 and changes periodically.
(g)	Represents less than 0.05% of net assets of the Fund.
(h)	Securities were purchased or sold short under Rule 144A of the Securities Act of 1933, as amended, or are otherwise restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only be sold to qualified institutional investors or may have other restrictions on resale. At July 31, 2021, these securities amounted to $125,924,094 of long positions and $(21,723,340) of short positions, which represents 2.5% and (0.4)%, respectively, of net assets of the Fund.
(i)	Payment-in-kind (PIK) security.
(j)	See “Purchased option contracts” under Derivative Instruments.
(k)	Represents 7-day effective yield as of July 31, 2021.
(l)	Represents investment of cash collateral received from securities lending.

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

(m)	At July 31, 2021, the Fund had $454,761,139 deposited in one or more accounts to satisfy collateral requirements for borrowing in connection with securities sold short.
(n)	Includes the impact of the Fund's open positions in derivatives at July 31, 2021.
(o)	Security acquired via a PIPE transaction.
(p)	These securities have been deemed by the investment manager to be illiquid, and are subject to restrictions on resale. At July 31, 2021, this security amounted to $346,030,467, which represents 6.8% of net assets of the Fund.

Restricted Security	Acquisition Date	Acquisition Cost		Acquisition Cost Percentage of Net Assets as of Acquisition Date			Value as of 7/31/2021		Fair Value Percentage of Net Assets as of 7/31/2021
AvidXchange, Inc.	4/7/2020	$	3,340,119		0.1	%	$	5,051,954		0.1	%
AvidXchange, Inc. (Ser. F Preferred Shares)	4/7/2020		13,360,475		0.5	%		20,207,814		0.4	%
Cybereason, Inc. (Ser. F Preferred Shares)	7/13/2021		4,750,000		0.1	%		4,750,000		0.1	%
DoubleVerify Holdings, Inc.	11/18/2020		7,399,998		0.2	%		14,080,862		0.3	%
Druva, Inc. (Ser. 4 Preferred Shares)	6/14/2019		3,429,998		0.1	%		6,167,968		0.1	%
Druva, Inc. (Ser. 5 Preferred Shares)	4/1/2021		4,500,000		0.1	%		4,499,994		0.1	%
Fanatics, Inc. (Ser. E Preferred Shares)	8/13/2020		35,900,005		1.0	%		72,402,150		1.4	%
Fanatics, Inc. (Ser. F Preferred Shares)	4/29/2021		1,819,970		0.0	%		1,819,970		0.0	%
LegalZoom.com, Inc.	8/22/2018		21,259,563		0.6	%		74,171,558		1.5	%
Lucid Group, Inc.	7/26/2021		25,999,995		0.5	%		37,162,659		0.7	%
OneSpaWorld, LLC, Second Lien Term Loan	3/19/2019		24,657,394		1.0	%		25,500,000		0.5	%
Paycor HCM, Inc.	7/27/2021		35,000,000		0.7	%		38,214,956		0.8	%
Payoneer Global, Inc.	6/29/2021		7,209,000		0.1	%		6,675,534		0.1	%
Signifyd, Inc. (Ser. A Preferred Shares)	5/24/2021		2,427,463		0.1	%		2,427,463		0.1	%
Signifyd, Inc. (Ser. Seed Preferred Shares)	5/24/2021		5,572,106		0.1	%		5,572,096		0.1	%
Sunlight Financial Holdings, Inc.	7/12/2021		18,000,000		0.4	%		14,580,000		0.3	%
Sweetgreen, Inc. (Ser. D Preferred Shares)	11/30/2018		7,520,004		0.3	%		8,585,338		0.2	%
Sweetgreen, Inc. (Ser. I Preferred Shares)	9/13/2019		1,009,430		0.0	%		1,009,430		0.0	%
Sweetgreen, Inc. (Ser. J Preferred Shares)	1/21/2021		873,383		0.0	%		873,383		0.0	%
Sweetgreen, Inc. (Ser. J Warrants)	1/21/2021		—		0.0	%		—		0.0	%
Venture Global LNG, Inc. Ser. C	11/21/2018		2,303,000		0.1	%		22,77,338		0.0	%
Total		$	226,331,903		6.0	%	$	346,030,467		6.8	%

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

Derivative Instruments

Futures contracts ("futures")

At July 31, 2021, open positions in futures for the Fund were as follows:

Short Futures:

Expiration Date	Number of Contracts	Open Contracts	Notional Amount			Value and Unrealized Appreciation/ (Depreciation)
9/2021	418	NASDAQ 100 E-Mini Index	$	(125,030,070	)	$	(9,619,240	)
9/2021	741	Russell 2000 E-Mini Index		(82,310,280	)		2,665,951
9/2021	3,107	S&P 500 E-Mini Index		(681,908,825	)		(25,587,302	)
9/2021	158	U.S. Treasury Long Bond		(26,025,563	)		(1,220,797	)
Total Futures			$	(915,274,738	)	$	(33,761,388	)

At July 31, 2021, the Fund had $84,077,091 deposited in a segregated account to cover margin requirements on open futures.

Total return basket swap contracts ("total return basket swaps")

At July 31, 2021, the Fund had outstanding total return basket swaps^(a) as follows:

Over-the-counter total return basket swaps - Short ^(b)

Counterparty		Reference Entity	Effective Variable Rate^(c)		Spread		Reference Rate	Frequency of Fund Receipt/ Payment	Maturity Date(s)		Value
	GSI	GSCBNBVL	0.02	%	(0.09	)%	3M USD LIBOR	3M/T	8/12/2022	$	(9,037,980	)
	JPM	JPNBGCND	(1.17	)%	(0.65	)%	3M USD LIBOR	3M/T	10/29/2021		(23,719,182	)
	JPM	JPNBLQGS	0.15	%	0.03	%	1M USD LIBOR	1M/T	1/19/2023		(12,047,578	)
	JPM	JPNBRMV3	0.11	%	(0.01	)%	3M USD LIBOR	3M/T	5/6/2022		(35,246,916	)
	Total									$	(80,051,656	)

^(a) The following table represents required component disclosures associated with the total return basket swaps:

Reference Entity	Shares		Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting
GSCBNBVL
Freeport-McMoRan Inc.	(17,475	)	$	(2,081,836	)	$	(263,327	)	2.9	%
Bath & Body Works Inc.	(7,467	)		(1,869,382	)		(236,454	)	2.6	%
Albemarle Corp.	(2,426	)		(1,563,003	)		(197,701	)	2.2	%
United Rentals Inc.	(1,474	)		(1,519,037	)		(192,140	)	2.1	%
SVB Financial Group	(854	)		(1,469,277	)		(185,846	)	2.1	%
Skyworks Solutions Inc.	(2,198	)		(1,268,100	)		(160,400	)	1.8	%
Lennar Corp.	(3,406	)		(1,119,874	)		(141,651	)	1.6	%
First Republic Bank/CA	(1,805	)		(1,100,484	)		(139,198	)	1.5	%
Nucor Corp.	(3,337	)		(1,085,264	)		(137,273	)	1.5	%
DaVita Inc.	(2,854	)		(1,073,148	)		(135,740	)	1.5	%
Aptiv PLC	(2,039	)		(1,063,955	)		(134,578	)	1.5	%
LKQ Corp.	(6,697	)		(1,062,643	)		(134,412	)	1.5	%
Affiliated Managers Group Inc.	(2,129	)		(1,054,539	)		(133,387	)	1.5	%
Seagate Technology Holdings PLC	(3,796	)		(1,043,355	)		(131,972	)	1.5	%
Ameriprise Financial Inc.	(1,292	)		(1,040,800	)		(131,649	)	1.5	%
Parker-Hannifin Corp.	(1,036	)		(1,010,988	)		(127,878	)	1.4	%
Fortune Brands Home & Security Inc.	(3,285	)		(1,001,312	)		(126,654	)	1.4	%
Capri Holdings Ltd.	(5,497	)		(967,810	)		(122,416	)	1.4	%
Laboratory Corp of America Holdings	(1,033	)		(956,476	)		(120,983	)	1.3	%
Kroger Co./The	(7,306	)		(929,816	)		(117,611	)	1.3	%
eBay Inc.	(4,226	)		(901,282	)		(114,001	)	1.3	%
Eastman Chemical Co.	(2,529	)		(891,198	)		(112,726	)	1.2	%
Mohawk Industries Inc.	(1,459	)		(889,313	)		(112,487	)	1.2	%
Interpublic Group of Cos Inc./The	(8,037	)		(888,584	)		(112,395	)	1.2	%
WW Grainger Inc.	(635	)		(882,192	)		(111,587	)	1.2	%
State Street Corp.	(3,218	)		(876,729	)		(110,896	)	1.2	%

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

Reference Entity	Shares		Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting
GSCBNBVL (cont’d)
Gap Inc./The	(9,566	)		(872,463	)		(110,356	)	1.2	%
Whirlpool Corp.	(1,248	)		(864,333	)		(109,328	)	1.2	%
Newell Brands Inc.	(10,755	)		(832,348	)		(105,282	)	1.2	%
Tapestry Inc.	(6,221	)		(822,758	)		(104,069	)	1.2	%
AES Corp./The	(10,942	)		(810,875	)		(102,566	)	1.1	%
Cimarex Energy Co.	(3,960	)		(807,266	)		(102,109	)	1.1	%
Invesco Ltd.	(10,408	)		(793,448	)		(100,362	)	1.1	%
Textron Inc.	(3,642	)		(785,969	)		(99,416	)	1.1	%
McKesson Corp.	(1,215	)		(774,172	)		(97,924	)	1.1	%
International Paper Co.	(4,275	)		(772,157	)		(97,669	)	1.1	%
Westrock Co.	(4,965	)		(763,898	)		(96,624	)	1.1	%
Iron Mountain Inc.	(5,571	)		(762,286	)		(96,420	)	1.1	%
Quest Diagnostics Inc.	(1,691	)		(749,608	)		(94,816	)	1.0	%
Packaging Corp of America	(1,684	)		(745,097	)		(94,246	)	1.0	%
Foot Locker Inc.	(4,163	)		(742,749	)		(93,949	)	1.0	%
Biogen Inc.	(722	)		(737,824	)		(93,326	)	1.0	%
Mosaic Co./The	(7,539	)		(736,223	)		(93,123	)	1.0	%
Fifth Third Bancorp	(6,371	)		(722,926	)		(91,441	)	1.0	%
Cardinal Health Inc.	(3,842	)		(713,420	)		(90,239	)	1.0	%
Synchrony Financial	(4,832	)		(710,464	)		(89,865	)	1.0	%
Dow Inc.	(3,652	)		(709,881	)		(89,791	)	1.0	%
LyondellBasell Industries NV	(2,259	)		(701,667	)		(88,752	)	1.0	%
Regions Financial Corp.	(11,613	)		(699,009	)		(88,416	)	1.0	%
Citizens Financial Group Inc.	(5,115	)		(674,284	)		(85,289	)	0.9	%
Other Securities	(259,899	)		(23,555,545	)		(2,979,494	)	33.1	%
			$	(71,471,067	)	$	(9,040,234	)
Accrued Net Interest Receivable/(Payable)							2,254
						$	(9,037,980	)
JPNBGCND
Amazon.com Inc.	(4,225	)	$	(14,010,566	)		(5,270,587	)	22.2	%
Home Depot Inc./The	(9,245	)		(3,023,864	)		(1,137,537	)	4.8	%
LVMH Moet Hennessy Louis Vuitton SE	(3,031	)		(2,414,412	)		(908,269	)	3.8	%
Toyota Motor Corp.	(26,608	)		(2,368,315	)		(890,928	)	3.8	%
NIKE Inc.	(13,862	)		(2,314,347	)		(870,626	)	3.7	%
McDonald's Corp.	(8,066	)		(1,951,223	)		(734,024	)	3.1	%
Lowe's Cos Inc.	(8,821	)		(1,694,041	)		(637,275	)	2.7	%
Starbucks Corp.	(13,970	)		(1,690,674	)		(636,009	)	2.7	%
Target Corp.	(5,773	)		(1,502,104	)		(565,071	)	2.4	%
Sony Group Corp.	(14,303	)		(1,476,983	)		(555,621	)	2.3	%
Booking Holdings Inc.	(518	)		(1,125,061	)		(423,233	)	1.8	%
Daimler AG	(12,289	)		(1,093,476	)		(411,351	)	1.7	%
TJX Cos Inc./The	(14,497	)		(994,236	)		(374,018	)	1.6	%
General Motors Co.	(15,886	)		(899,958	)		(338,552	)	1.4	%
Cie Financiere Richemont SA	(6,714	)		(856,515	)		(322,209	)	1.4	%
Kering SA	(947	)		(846,493	)		(318,439	)	1.3	%
eBay Inc.	(11,885	)		(807,958	)		(303,943	)	1.3	%
Chipotle Mexican Grill Inc.	(412	)		(765,072	)		(287,810	)	1.2	%
adidas AG	(2,076	)		(751,260	)		(282,614	)	1.2	%
Aptiv PLC	(4,474	)		(743,954	)		(279,866	)	1.2	%
Hermes International	(484	)		(736,716	)		(277,143	)	1.2	%
Dollar General Corp.	(2,934	)		(680,186	)		(255,877	)	1.1	%
Ford Motor Co.	(48,327	)		(671,912	)		(252,764	)	1.1	%
Honda Motor Co Ltd.	(19,978	)		(633,489	)		(238,310	)	1.0	%
Volkswagen AG	(2,559	)		(621,589	)		(233,833	)	1.0	%
O'Reilly Automotive Inc.	(1,025	)		(616,639	)		(231,971	)	1.0	%
Ross Stores Inc.	(4,940	)		(604,110	)		(227,258	)	1.0	%
AutoZone Inc.	(357	)		(578,036	)		(217,449	)	0.9	%
Yum! Brands Inc.	(4,250	)		(556,514	)		(209,353	)	0.9	%
Compass Group PLC	(26,209	)		(552,228	)		(207,741	)	0.9	%
DR Horton Inc.	(5,712	)		(543,270	)		(204,371	)	0.9	%
Hilton Worldwide Holdings Inc.	(3,890	)		(509,648	)		(191,723	)	0.8	%
Michelin	(3,126	)		(508,822	)		(191,412	)	0.8	%
Lennar Corp.	(4,790	)		(501,992	)		(188,843	)	0.8	%

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)		Component Weighting
JPNBGCND (cont’d)
Bayerische Motoren Werke AG	(5,026	)		(498,301	)		(187,454	)	0.8	%
Marriott International Inc./MD	(3,352	)		(487,711	)		(183,470	)	0.8	%
Industria de Diseno Textil SA	(14,211	)		(480,220	)		(180,653	)	0.8	%
Fast Retailing Co Ltd.	(707	)		(474,475	)		(178,491	)	0.8	%
Denso Corp.	(6,797	)		(461,691	)		(173,682	)	0.7	%
Magna International Inc.	(5,461	)		(456,405	)		(171,693	)	0.7	%
Oriental Land Co Ltd./Japan	(3,195	)		(433,625	)		(163,124	)	0.7	%
Panasonic Corp.	(34,281	)		(406,269	)		(152,833	)	0.6	%
Toyota Industries Corp.	(4,683	)		(388,573	)		(146,176	)	0.6	%
Best Buy Co Inc.	(3,435	)		(384,621	)		(144,690	)	0.6	%
CarMax Inc.	(2,833	)		(378,150	)		(142,255	)	0.6	%
Bath & Body Works Inc.	(4,495	)		(358,752	)		(134,958	)	0.6	%
VF Corp.	(4,297	)		(343,471	)		(129,209	)	0.5	%
Bridgestone Corp.	(7,777	)		(338,892	)		(127,487	)	0.5	%
Persimmon PLC	(8,191	)		(329,521	)		(123,961	)	0.5	%
Bandai Namco Holdings Inc.	(4,925	)		(315,693	)		(118,760	)	0.5	%
Other Securities	(286,550	)		(6,846,790	)		(2,575,673	)	10.7	%
			$	(63,028,823	)	$	(23,710,599	)
Accrued Net Interest Receivable/(Payable)							(8,583	)
						$	(23,719,182	)
JPNBLQGS
NVIDIA Corp.	(25,024	)	$	(5,596,670	)	$	(317,744	)	2.6	%
Freeport-McMoRan Inc.	(121,191	)		(5,296,105	)		(300,680	)	2.5	%
Align Technology Inc.	(5,464	)		(4,360,422	)		(247,557	)	2.1	%
IDEXX Laboratories Inc.	(5,371	)		(4,180,475	)		(237,341	)	2.0	%
Fortinet Inc.	(13,077	)		(4,083,300	)		(231,824	)	1.9	%
Quanta Services Inc.	(38,048	)		(3,966,951	)		(225,219	)	1.9	%
Applied Materials Inc.	(24,637	)		(3,954,211	)		(224,495	)	1.9	%
MSCI Inc.	(5,616	)		(3,838,996	)		(217,954	)	1.8	%
Chipotle Mexican Grill Inc.	(1,790	)		(3,824,821	)		(217,149	)	1.8	%
Advanced Micro Devices Inc.	(31,290	)		(3,811,102	)		(216,370	)	1.8	%
Lam Research Corp.	(5,090	)		(3,721,373	)		(211,276	)	1.8	%
Twitter Inc.	(45,548	)		(3,644,012	)		(206,884	)	1.7	%
Nucor Corp.	(29,190	)		(3,482,709	)		(197,726	)	1.6	%
Old Dominion Freight Line Inc.	(11,177	)		(3,450,601	)		(195,903	)	1.6	%
KLA Corp.	(8,608	)		(3,437,566	)		(195,163	)	1.6	%
Synopsys Inc.	(10,403	)		(3,436,523	)		(195,104	)	1.6	%
ABIOMED Inc.	(8,583	)		(3,220,588	)		(182,845	)	1.5	%
FedEx Corp.	(9,761	)		(3,134,336	)		(177,948	)	1.5	%
Centene Corp.	(39,445	)		(3,104,181	)		(176,236	)	1.5	%
Arista Networks Inc.	(7,103	)		(3,099,018	)		(175,943	)	1.5	%
DR Horton Inc.	(28,120	)		(3,077,986	)		(174,749	)	1.4	%
Autodesk Inc.	(8,090	)		(2,979,784	)		(169,173	)	1.4	%
Lennar Corp.	(24,645	)		(2,972,320	)		(168,750	)	1.4	%
First Republic Bank/CA	(13,079	)		(2,925,576	)		(166,096	)	1.4	%
Keysight Technologies Inc.	(15,065	)		(2,843,400	)		(161,430	)	1.3	%
CBRE Group Inc.	(25,613	)		(2,833,860	)		(160,889	)	1.3	%
Broadcom Inc.	(5,072	)		(2,823,744	)		(160,314	)	1.3	%
Expeditors International of Washington I	(19,146	)		(2,816,358	)		(159,895	)	1.3	%
Robert Half International Inc.	(24,532	)		(2,763,462	)		(156,892	)	1.3	%
T Rowe Price Group Inc.	(11,796	)		(2,762,267	)		(156,824	)	1.3	%
IQVIA Holdings Inc.	(9,674	)		(2,748,627	)		(156,050	)	1.3	%
Estee Lauder Cos Inc./The	(7,146	)		(2,736,044	)		(155,335	)	1.3	%
Netflix Inc.	(4,599	)		(2,730,180	)		(155,002	)	1.3	%
Illumina Inc.	(4,778	)		(2,716,647	)		(154,234	)	1.3	%
Copart Inc.	(16,020	)		(2,701,102	)		(153,352	)	1.3	%
IPG Photonics Corp.	(10,739	)		(2,687,088	)		(152,556	)	1.3	%
Regeneron Pharmaceuticals Inc.	(4,039	)		(2,661,980	)		(151,130	)	1.3	%
Dollar General Corp.	(9,840	)		(2,625,552	)		(149,062	)	1.2	%
Fastenal Co.	(41,739	)		(2,622,117	)		(148,867	)	1.2	%
Tapestry Inc.	(53,979	)		(2,618,962	)		(148,688	)	1.2	%
Texas Instruments Inc.	(11,964	)		(2,615,927	)		(148,516	)	1.2	%
LKQ Corp.	(44,821	)		(2,609,027	)		(148,124	)	1.2	%

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

Reference Entity	Shares			Notional Amount			Unrealized Appreciation/ (Depreciation)		Component Weighting
JPNBLQGS(cont’d)
JB Hunt Transport Services Inc.	(13,003	)		(2,512,430	)		(142,640	)	1.2	%
Analog Devices Inc.	(13,072	)		(2,510,273	)		(142,518	)	1.2	%
O'Reilly Automotive Inc.	(3,531	)		(2,445,395	)		(138,834	)	1.2	%
Take-Two Interactive Software Inc.	(12,201	)		(2,426,874	)		(137,783	)	1.1	%
NVR Inc.	(402	)		(2,410,194	)		(136,836	)	1.1	%
Micron Technology Inc.	(26,999	)		(2,402,477	)		(136,398	)	1.1	%
Broadridge Financial Solutions Inc.	(12,039	)		(2,395,756	)		(136,016	)	1.1	%
AmerisourceBergen Corp.	(17,027	)		(2,385,988	)		(135,461	)	1.1	%
PulteGroup Inc.	(37,381	)		(2,352,613	)		(133,567	)	1.1	%
Microchip Technology Inc.	(14,311	)		(2,349,235	)		(133,375	)	1.1	%
Starbucks Corp.	(16,821	)		(2,342,845	)		(133,012	)	1.1	%
Electronic Arts Inc.	(13,997	)		(2,311,200	)		(131,216	)	1.1	%
Darden Restaurants Inc.	(13,780	)		(2,305,757	)		(130,906	)	1.1	%
MarketAxess Holdings Inc.	(4,209	)		(2,293,877	)		(130,232	)	1.1	%
Ulta Beauty Inc.	(5,622	)		(2,165,388	)		(122,937	)	1.0	%
Mastercard Inc.	(4,862	)		(2,152,275	)		(122,193	)	1.0	%
International Flavors & Fragrances Inc.	(11,698	)		(2,021,152	)		(114,748	)	1.0	%
Other Securities	(342,733	)		(34,997,023	)		(1,986,912	)	16.6	%
			$	(212,296,722	)	$	(12,052,873	)
Accrued Net Interest Receivable/(Payable)							5,295
						$	(12,047,578	)
JPNBRMV3
Freeport-McMoRan Inc.	(19,792	)	$	(1,829,493	)	$	(498,384	)	1.4	%
Analog Devices Inc.	(4,194	)		(1,703,565	)		(464,079	)	1.3	%
Agilent Technologies Inc.	(4,403	)		(1,636,965	)		(445,936	)	1.3	%
Newmont Corp.	(10,646	)		(1,622,592	)		(442,021	)	1.3	%
Fidelity National Information Services I	(4,034	)		(1,458,600	)		(397,347	)	1.1	%
IQVIA Holdings Inc.	(2,389	)		(1,435,482	)		(391,049	)	1.1	%
Roper Technologies Inc.	(1,116	)		(1,330,642	)		(362,489	)	1.0	%
Synopsys Inc.	(1,819	)		(1,270,918	)		(346,219	)	1.0	%
Zimmer Biomet Holdings Inc.	(2,766	)		(1,096,525	)		(298,712	)	0.8	%
Parker-Hannifin Corp.	(1,442	)		(1,091,378	)		(297,310	)	0.8	%
Archer-Daniels-Midland Co.	(7,515	)		(1,088,840	)		(296,618	)	0.8	%
Corning Inc.	(10,626	)		(1,079,169	)		(293,983	)	0.8	%
First Republic Bank/CA	(2,213	)		(1,047,045	)		(285,232	)	0.8	%
Motorola Solutions Inc.	(1,927	)		(1,046,603	)		(285,112	)	0.8	%
Kroger Co./The	(10,565	)		(1,043,278	)		(284,206	)	0.8	%
Nucor Corp.	(4,117	)		(1,038,980	)		(283,035	)	0.8	%
Keysight Technologies Inc.	(2,545	)		(1,015,969	)		(276,767	)	0.8	%
Stanley Black & Decker Inc.	(2,057	)		(983,242	)		(267,851	)	0.8	%
Ameriprise Financial Inc.	(1,555	)		(971,908	)		(264,764	)	0.8	%
Williams Cos Inc./The	(15,836	)		(962,413	)		(262,177	)	0.7	%
Liberty Broadband Corp.	(2,168	)		(933,686	)		(254,352	)	0.7	%
Laboratory Corp of America Holdings	(1,288	)		(925,576	)		(252,142	)	0.7	%
Fifth Third Bancorp	(10,491	)		(923,685	)		(251,627	)	0.7	%
PACCAR Inc.	(4,550	)		(916,086	)		(249,557	)	0.7	%
Willis Towers Watson PLC	(1,773	)		(886,374	)		(241,463	)	0.7	%
Kansas City Southern	(1,364	)		(886,034	)		(241,370	)	0.7	%
Ball Corp.	(4,453	)		(873,707	)		(238,012	)	0.7	%
AMETEK Inc.	(2,493	)		(840,940	)		(229,086	)	0.6	%
Arthur J Gallagher & Co.	(2,447	)		(826,937	)		(225,271	)	0.6	%
Marvell Technology Inc.	(5,512	)		(809,247	)		(220,452	)	0.6	%
Dover Corp.	(1,945	)		(788,438	)		(214,783	)	0.6	%
Republic Services Inc.	(2,734	)		(785,168	)		(213,893	)	0.6	%
Qorvo Inc.	(1,652	)		(759,949	)		(207,023	)	0.6	%
West Pharmaceutical Services Inc.	(759	)		(757,909	)		(206,467	)	0.6	%
Trane Technologies PLC	(1,517	)		(749,207	)		(204,096	)	0.6	%
Hartford Financial Services Group Inc./Th	(4,795	)		(740,079	)		(201,610	)	0.6	%
Discover Financial Services	(2,436	)		(734,601	)		(200,117	)	0.6	%
Cummins Inc.	(1,284	)		(722,965	)		(196,948	)	0.6	%
Synchrony Financial	(6,313	)		(720,206	)		(196,196	)	0.6	%
Albemarle Corp.	(1,434	)		(716,685	)		(195,237	)	0.6	%
Nasdaq Inc.	(1,571	)		(711,853	)		(193,921	)	0.6	%

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

Reference Entity	Shares		Notional Amount			Unrealized Appreciation/ (Depreciation)			Component Weighting
JPNBRMV3 (cont’d)
Trimble Inc.	(3,349	)		(694,684	)		(189,243	)	0.5	%
International Paper Co.	(4,894	)		(685,758	)		(186,812	)	0.5	%
Ally Financial Inc.	(5,469	)		(681,463	)		(185,642	)	0.5	%
Tyson Foods Inc.	(3,891	)		(674,658	)		(183,788	)	0.5	%
Yum China Holdings Inc.	(4,470	)		(674,372	)		(183,710	)	0.5	%
PerkinElmer Inc.	(1,518	)		(671,184	)		(182,842	)	0.5	%
Hologic Inc.	(3,635	)		(661,870	)		(180,304	)	0.5	%
KeyCorp	(13,799	)		(658,164	)		(179,295	)	0.5	%
Regions Financial Corp.	(14,045	)		(655,942	)		(178,689	)	0.5	%
Other Securities	(697,017	)		(81,560,175	)		(22,218,349	)	63.2	%
			$	(129,381,209	)	$	(35,245,588	)
Accrued Net Interest Receivable/(Payable)							(1,328	)
						$	(35,246,916	)
Total Return Basket Swaps, at value						$	(80,051,656	)

^(b)	The Fund receives a specified rate based on a reference rate plus or minus a spread, and pays the total return on the reference entity. The cash flows may be denominated in various foreign currencies based on the local currencies of the positions within the swaps.

^(c)	Effective rate at July 31, 2021.

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

Total return swap contracts ("total return swaps")

At July 31, 2021, the Fund had outstanding total return swaps as follows:

Over-the-counter total return swaps - Short ^(a)

Counterparty	Reference Entity	Notional Amount			Maturity Date	Variable-Rate^(b)		Spread		Reference Rate	Frequency of Fund Receipt/ Payment	Unrealized Appreciation/ (Depreciation)			Accrued Net Interest Receivable/ (Payable)		Value
JPM	MSCI Daily Total Return World Gross Industrial Index	USD	(11,062,927	)	5/16/2022	0.20	%	(0.04	)%	3M USD LIBOR	3M/T	$	(1,884,968	)	$	2,186	$	(1,882,782	)
JPM	S&P 500 Equal Weighted USD Total Return Index	USD	(229,981,968	)	5/4/2022	0.39	%	0.15	%	1M USD LIBOR	1M/T		(61,620,686	)		17,056		(61,603,630	)
Total												$	(63,505,654	)	$	19,242	$	(63,486,412	)

(a)	The Fund receives a specified rate based on a reference rate plus or minus a spread, and pays the total return on the reference entity.
(b)	Effective rate at July 31, 2021.

At July 31, 2021, the Fund had cash collateral of $9,490,000 and $182,600,000 deposited in segregated accounts for Goldman Sachs International and JPMorgan Chase Bank N.A., respectively, to cover collateral requirements on over-the-counter derivatives.

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

Purchased option contracts ("options purchased")

At July 31, 2021, the Fund had outstanding options purchased as follows:

Description	Number of Contracts		Notional Amount		Exercise Price		Expiration Date	Value
Calls

Capital Markets
Apollo Global Management, Inc.		2,085	$	12,272,310	$	65	1/21/2022	$	443,062

Exchange-Traded Fund
SPDR S&P Insurance ETF		3,950		15,045,550		41	9/17/2021		69,125

IT Services
WEX, Inc.		515		9,771,095		220	11/19/2021		158,363

Multiline Retail
Dollar Tree, Inc.		1,750		17,463,250		115	8/20/2021		14,875

Software
Sumo Logic, Inc.		4,400		9,086,000		25	8/20/2021		77,000

Specialty Retail
Ulta Beauty, Inc.		310		10,409,800		375	9/17/2021		151,900

Textiles, Apparel & Luxury Goods
Tapestry, Inc.		4,150		17,554,500		52.5	8/20/2021		—	^(a)(b)
Total calls								$	914,325

Puts
Software
Triterras, Inc.		9,003		882,294		5	8/20/2021		337,613
Total puts									337,613

Total options purchased (cost $6,687,714)								$	1,251,938

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

Written option contracts ("options written")

At July 31, 2021, the Fund had outstanding options written as follows:

Description	Number of Contracts		Notional Amount			Exercise Price		Expiration Date	Value
Calls

Consumer Finance
SoFi Technologies, Inc.		4,000	$	(6,176,000	)	$	22.5	1/21/2022	$	(678,000	)

Diversified Financial Services
Fintech Acquisition Corp. V		4,000		(4,020,000	)		12.5	8/20/2021		(20,000	)
Fintech Acquisition Corp. V		2,420		(2,432,100	)		15	11/19/2021		(54,450	)
										(74,450	)

Internet & Direct Marketing Retail
Chewy, Inc.		2,000		(16,740,000	)		105	8/20/2021		(33,000	)

IT Services
Paya
Holdings, Inc.		9,000		(10,341,000	)		15	8/20/2021		(45,000	)

Software
Triterras, Inc.		3,014		(295,372	)		7.5	1/20/2023		(452,100	)

Textiles, Apparel & Luxury Goods
NIKE, Inc.		300		(5,025,300	)		165	8/20/2021		(129,000	)
Total calls									$	(1,411,550	)

Puts
Capital Markets
Apollo Global Management, Inc.		2,085	$	(12,272,310	)	$	50	1/21/2022	$	(385,725	)

Exchange-Traded Fund
SPDR S&P Insurance ETF		3,950		(15,045,550	)		33	9/17/2021		(108,625	)

Food Products
Lamb Weston Holdings, Inc.		1,500		(10,015,500	)		65	8/20/2021		(161,250	)

Internet & Direct Marketing Retail
Chewy, Inc.		1,532		(12,822,840	)		65	10/15/2021		(232,864	)
Chewy, Inc.		1,700		(14,229,000	)		75	8/20/2021		(140,250	)
										(373,114	)
IT Services
Paya Holdings, Inc.		9,000		(10,341,000	)		10	8/20/2021		(90,000	)
WEX, Inc.		515		(9,771,095	)		180	11/19/2021		(471,225	)
										(561,225	)
Multiline Retail
Dollar Tree, Inc.		1,750		(17,463,250	)		100	8/20/2021		(356,125	)

Semiconductors & Semiconductor Equipment
Analog Devices, Inc.		830		(13,895,860	)		150	9/17/2021		(136,950	)

Software
Sumo Logic, Inc.		4,400		(9,086,000	)		17.5	8/20/2021		(88,000	)

Specialty Retail
Floor & Decor Holdings, Inc.		1,200		(14,641,200	)		100	10/15/2021		(210,000	)
O'Reilly Automotive, Inc.		250		(15,096,000	)		420	8/20/2021		—	_(a)(b)
Ulta Beauty, Inc.		310		(10,409,800	)		325	9/17/2021		(403,000	)
										(613,000	)
Textiles, Apparel & Luxury Goods
Tapestry, Inc.		4,150		(17,554,500	)		40	8/20/2021		(477,250	)

Total puts									$	(3,261,264	)

Total options written (premium received $11,877,950)									$	(4,672,814	)

^(a)

Security fair valued as of July 31, 2021 in accordance with procedures approved by the Board of Trustees.

^(b)

Value determined using significant unobservable inputs.

At July 31, 2021, the Fund had securities pledged in the amount of $231,282,308 to cover collateral requirements for options written.

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of July 31, 2021:

Asset Valuation Inputs	Level 1		Level 2		Level 3^(c)		Total
Investments:
Common Stocks
Automobiles	$	—	$	37,162,659	$	—	$	37,162,659
Commercial Services & Supplies		75,037,720		74,171,558		—		149,209,278
Diversified Financial Services		22,610,762		14,580,000		—		37,190,762
Food Products		113,126,773		12,860,000		—		125,986,773
IT Services		224,174,363		6,675,534		—		230,849,897
Oil, Gas & Consumable Fuels		76,780,572		—		2,277,338		79,057,910
Software		658,882,689		52,295,818		5,051,954		716,230,461
Other Common Stocks^(a)		2,956,575,553		—		—		2,956,575,553
Total Common Stocks		4,127,188,432		197,745,569		7,329,292		4,332,263,293
Preferred Stocks^(a)		—		—		128,315,606		128,315,606
Loan Assignments
Leisure Goods - Activities - Movies		—		—		25,500,000		25,500,000
Other Loan Assignments^(a)		—		7,478,000		—		7,478,000
Total Loan Assignments		—		7,478,000		25,500,000		32,978,000
Corporate Bonds^(a)		—		147,035,341		—		147,035,341
Convertible Bonds^(a)		—		8,054,847		—		8,054,847
Master Limited Partnerships and Limited Partnerships^(a)		99,576,021		—		—		99,576,021
Warrants^(a)		659,476		4,566,687		—		5,226,163
Options Purchased^(b)		1,251,938		—		—		1,251,938
Short-Term Investments		—		194,113,530		—		194,113,530
Total Investments	$	4,228,675,867	$	558,993,974	$	161,144,898	$	4,948,814,739

^(a)

The Schedule of Investments provides information on the industry or sector categorization.

^(b)

The “Purchased option contracts” table under Derivative Instruments provides information on the industry or sector categorization.

^(c)

The following is a reconciliation between the beginning and ending balances of investments in which unobservable inputs (Level 3) were used in determining value:

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

(000’s omitted)	Beginning balance, as of 11/1/2020		Accrued discounts/ (premiums)		Realized gain/(loss)		Change in unrealized appreciation/ (depreciation)			Purchases		Sales		Transfers into Level 3		Transfers out of Level 3			Balance, as of 7/31/2021		Net change in unrealized appreciation/ (depreciation ) from investments still held as of 7/31/2021

Investments in Securities:
Common Stocks^(d)(h)	$	27,047	$	—	$	—	$	1,542		$	—	$	—	$	—	$	(21,260	)	$	7,329	$	1,542
Preferred Stocks^(d)		62,680		—		—		45,693			19,943		—		—		—			128,316		45,693
Loan Assignments^(d)		23,250		32		—		2,218			—		—		—		—			25,500		2,218
Options Purchased^(h)		—		—		—		(1,334	)		1,334		—		—		—			—		(1,334	)
Warrants^(d)		—		—		—		—			—		—		—		—			—		—
Total	$	112,977	$	32	$	—	$	48,119		$	21,277	$	—	$	—	$	(21,260	)	$	161,145	$	48,119

^(d) Quantitative Information about Level 3 Fair Value Measurements:

Investment type

Fair value

at 7/31/2021

Valuation

approach

Unobservable

input(s)

Input value/range

Weighted average^(f)

Impact to
valuation from
increase in
Input^(g)

Common Stocks

2,277,338

Market Comparables

Enterprise value/EBITDA multiple^(e) (EV/EBITDA)

11.0x

11.0

Increase

Common Stocks

5,051,954

Market Comparables

Enterprise value/Revenue multiple^(e) (EV/Revenue)

15.0x

15.0

Increase

Preferred Stocks

28,793,152

Market Comparables

Enterprise value/Revenue multiple^(e) (EV/Revenue)

5.0x - 15.0x

12.0

Increase

Preferred Stocks

99,522,454

Market Approach

Transaction Price

$4.9528 – $34.87

30.05

Increase

Warrant

Market Approach

Transaction Price

$0.00

0.00

Increase

Loan Assignments

25,500,000

Market Comparables

Yield

8.0%

8.0

Decrease

^(e)

Represents amounts used when the reporting entity has determined that market participants would use such multiples when pricing the investments.

^(f)

The weighted averages disclosed in the table above were weighted by relative fair value.

^(g)

Represents the expected directional change in the fair value of the Level 3 investments that would result from an increase or decrease in the corresponding input. Significant changes in these inputs could result in significantly higher or lower fair value measurements.

^(h)

For the period ended July 31, 2021, these investments were valued in accordance with procedures approved by the Board of Trustees. These investments did not have a material impact on the Fund’s net assets and, therefore, disclosure of unobservable inputs used in formulating valuations is not presented.

See Notes to Schedule of Investments

Schedule of Investments Long Short Fund^

(Unaudited) (cont’d)

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's short investments as of July 31, 2021:

	Level 1			Level 2			Level 3		Total
Investments:
Common Stocks Sold Short^(a)	$	(378,367,266	)	$	—		$	—	$	(378,367,266	)
Corporate Bonds Sold Short^(a)		—			(49,984,790	)		—		(49,984,790	)
Exchange-Traded Funds Sold Short		(65,802,308	)		—			—		(65,802,308	)
Total Short Positions	$	(444,169,574	)	$	(49,984,790	)	$	—	$	(494,154,364	)

^(a)   The Schedule of Investments provides information on the industry or sector categorization.

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's derivatives as of July 31, 2021:

Other Financial Instruments	Level 1			Level 2			Level 3		Total
Futures^(a)
Assets	$	2,665,951		$	—		$	—	$	2,665,951
Liabilities		(36,427,339	)		—			—		(36,427,339	)
Swaps
Liabilities		—			(143,538,068	)		—		(143,538,068	)
Options Written^(b)
Liabilities		(4,672,814	)		—			—		(4,672,814	)
Total	$	(38,434,202	)	$	(143,538,068	)	$	—	$	(181,972,270	)

^(a)

Futures are reported at the cumulative unrealized appreciation/(depreciation) of the instrument.

^(b)

The following is a reconciliation between the beginning and ending balances of investments in which unobservable inputs (Level 3) were used in determining value:

(000’s omitted)	Beginning balance, as of 11/1/2020		Accrued discounts/ (premiums)		Realized gain/(loss)		Change in unrealized appreciation/ (depreciation)		Purchases /Closing of options		Sales/ Writing of options			Transfers into Level 3		Transfers out of Level 3		Balance, as of 7/31/2021		Net change in unrealized appreciation/ (depreciation) from investments still held as of 7/31/2021
Other Financial Instruments:
Options Written^(c)	$	—	$	—	$	—	$	704	$	—	$	(704	)	$	—	$	—	$	—	$	704
Total	$	—	$	—	$	—	$	704	$	—	$	(704	)	$	—	$	—	$	—	$	704

^(c)

^ A balance indicated with a "—", reflects either a zero balance or an amount that rounds to less than 1.

See Notes to Schedule of Investments

Schedule of Investments U.S. Equity Index PutWrite Strategy Fund^

(Unaudited) July 31, 2021

PRINCIPAL AMOUNT			VALUE

U.S. Treasury Obligations 93.7%
		U.S. Treasury Notes
$	50,500,000	2.75%, due 9/15/2021	$	50,662,864
	47,900,000	2.63%, due 12/15/2021		48,354,676	^(a)
	52,700,000	2.38%, due 3/15/2022		53,455,504
	53,800,000	1.75%, due 6/15/2022		54,583,883
	54,600,000	1.50%, due 9/15/2022		55,463,789	^(a)
	54,600,000	1.63%, due 12/15/2022		55,726,125	^(a)
	54,600,000	0.50%, due 3/15/2023		54,915,656
	38,700,000	0.25%, due 6/15/2023		38,755,933
		Total U.S. Treasury Obligations (Cost $410,806,211)		411,918,430

NUMBER OF SHARES

Short-Term Investments 6.7%
Investment Companies 6.7%
	29,542,910	State Street Institutional U.S. Government Money Market Fund Premier Class, 0.03%^(b) (Cost $29,542,910)		29,542,910	^(c)
		Total Investments 100.4% (Cost $440,349,121)		441,461,340
		Liabilities Less Other Assets (0.4)%		(1,792,485	)^(d)
		Net Assets 100.0%	$	439,668,855

(a)	All or a portion of the security is pledged as collateral for options written.
(b)	Represents 7-day effective yield as of July 31, 2021.
(c)	All or a portion of this security is segregated in connection with obligations for options written with a total value of $29,542,910.
(d)	Includes the impact of the Fund's open positions in derivatives at July 31, 2021.

See Notes to Schedule of Investments

Schedule of Investments U.S. Equity Index PutWrite Strategy Fund^

(Unaudited) (cont’d)

Derivative Instruments

Written option contracts ("options written")

At July 31, 2021, the Fund had outstanding options written as follows:

Description	Number of Contracts		Notional Amount			Exercise Price		Expiration Date	Value
Puts
Index
Russell 2000 Index		19	$	(4,229,867	)	$	2,245	8/6/2021	$	(68,875	)
Russell 2000 Index		34		(7,569,236	)		2,260	8/6/2021		(152,830	)
Russell 2000 Index		20		(4,452,492	)		2,270	8/6/2021		(103,100	)
Russell 2000 Index		27		(6,010,864	)		2,170	8/13/2021		(50,490	)
Russell 2000 Index		21		(4,675,117	)		2,180	8/13/2021		(44,520	)
Russell 2000 Index		17		(3,784,618	)		2,210	8/13/2021		(52,530	)
Russell 2000 Index		9		(2,003,621	)		2,245	8/13/2021		(41,805	)
Russell 2000 Index		2		(445,249	)		2,270	8/13/2021		(12,150	)
Russell 2000 Index		9		(2,003,621	)		2,130	8/20/2021		(15,345	)
Russell 2000 Index		5		(1,113,123	)		2,180	8/20/2021		(14,500	)
Russell 2000 Index		5		(1,113,123	)		2,190	8/20/2021		(16,050	)
Russell 2000 Index		58		(12,912,227	)		2,200	8/20/2021		(205,610	)
Russell 2000 Index		1		(222,625	)		2,170	8/27/2021		(3,580	)
Russell 2000 Index		9		(2,003,621	)		2,200	8/27/2021		(40,950	)
Russell 2000 Index		10		(2,226,246	)		2,215	8/27/2021		(51,100	)
Russell 2000 Index		28		(6,233,489	)		2,230	8/27/2021		(160,580	)
Russell 2000 Index		25		(5,565,615	)		2,250	8/27/2021		(166,875	)
S&P 500 Index		13		(5,713,838	)		4,325	8/6/2021		(12,220	)
S&P 500 Index		23		(10,109,098	)		4,330	8/6/2021		(23,000	)
S&P 500 Index		49		(21,536,774	)		4,355	8/6/2021		(66,885	)
S&P 500 Index		131		(57,577,906	)		4,360	8/6/2021		(191,915	)
S&P 500 Index		3		(1,318,578	)		4,345	8/13/2021		(7,650	)
S&P 500 Index		157		(69,005,582	)		4,350	8/13/2021		(416,050	)
S&P 500 Index		9		(3,955,734	)		4,370	8/13/2021		(27,900	)
S&P 500 Index		15		(6,592,890	)		4,375	8/13/2021		(48,450	)
S&P 500 Index		33		(14,504,358	)		4,380	8/13/2021		(111,045	)
S&P 500 Index		7		(3,076,682	)		4,230	8/20/2021		(13,930	)
S&P 500 Index		106		(46,589,756	)		4,345	8/20/2021		(388,490	)
S&P 500 Index		56		(24,613,456	)		4,360	8/20/2021		(224,840	)
S&P 500 Index		50		(21,976,300	)		4,400	8/20/2021		(259,500	)
S&P 500 Index		2		(879,052	)		4,370	8/27/2021		(11,060	)
S&P 500 Index		92		(40,436,392	)		4,400	8/27/2021		(593,860	)
S&P 500 Index		74		(32,524,924	)		4,415	8/27/2021		(518,740	)
S&P 500 Index		43		(18,899,618	)		4,425	8/27/2021		(318,845	)
Total options written (premium received $7,162,726)									$	(4,435,270	)

At July 31, 2021, the Fund had securities pledged in the amount of $118,934,285 to cover collateral requirements for options written.

See Notes to Schedule of Investments

Schedule of Investments U.S. Equity Index PutWrite Strategy Fund^

(Unaudited) (cont’d)

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of July 31, 2021:

Asset Valuation Inputs	Level 1		Level 2		Level 3		Total
Investments:
U.S. Treasury Obligations	$	—	$	411,918,430	$	—	$	411,918,430
Short-Term Investments		—		29,542,910		—		29,542,910
Total Investments	$	—	$	441,461,340	$	—	$	441,461,340

The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's derivatives as of July 31, 2021:

Other Financial Instruments	Level 1			Level 2		Level 3		Total
Options Written
Liabilities	$	(4,435,270	)	$	—	$	—	$	(4,435,270	)
Total	$	(4,435,270	)	$	—	$	—	$	(4,435,270	)

^ A balance indicated with a "—", reflects either a zero balance or an amount that rounds to less than 1.

See Notes to Schedule of Investments

July 31, 2021

Notes to Schedule of Investments^ß Alternative and Multi-Asset Class Funds (Unaudited)

In accordance with Accounting Standards Codification 820 “Fair Value Measurement” (“ASC 820”), all investments held by each of Neuberger Berman Commodity Strategy Fund ("Commodity Strategy"), Neuberger Berman Global Allocation Fund ("Global Allocation"), Neuberger Berman Long Short Fund ("Long Short"), and Neuberger Berman U.S. Equity Index PutWrite Strategy Fund ("U.S. Equity Index PutWrite Strategy") (each individually a “Fund,” and collectively, the “Funds”) are carried at the value that Neuberger Berman Investment Advisers LLC ("Management") believes a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment under current market conditions. Various inputs, including the volume and level of activity for the asset or liability in the market, are considered in valuing the Funds' investments, some of which are discussed below. Significant Management judgment may be necessary to value investments in accordance with ASC 820.

• Level 1 – unadjusted quoted prices in active markets for identical investments

• Level 2 – other observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, amortized cost, etc.)

• Level 3 – unobservable inputs (including a Fund's own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing an investment are not necessarily an indication of the risk associated with investing in those securities.

The value of the Funds’ investments (long and short positions) in equity securities, convertible preferred stocks, exchange-traded funds, preferred stocks, master limited partnerships and limited partnerships, warrants and exchange-traded options purchased and written, for which market quotations are readily available, is generally determined by Management by obtaining valuations from independent pricing services based on the latest sale price quoted on a principal exchange or market for that security (Level 1 inputs). Securities traded primarily on the NASDAQ Stock Market are normally valued at the NASDAQ Official Closing Price (“NOCP”) provided by NASDAQ each business day. The NOCP is the most recently reported price as of 4:00:02 p.m., Eastern Time, unless that price is outside the range of the “inside” bid and asked prices (i.e., the bid and asked prices that dealers quote to each other when trading for their own accounts); in that case, NASDAQ will adjust the price to equal the inside bid or asked price, whichever is closer. Because of delays in reporting trades, the NOCP may not be based on the price of the last trade to occur before the market closes. If there is no sale of a security on a particular day, the independent pricing services may value the security based on market quotations.

The value of the Funds’ investments for long and short positions in debt securities is determined by Management primarily by obtaining valuations from independent pricing services based on readily available bid or offer quotations, respectively, or if quotations are not available, by methods which include various considerations based on security type (generally Level 2 inputs). In addition to the consideration of yields or prices of securities of comparable quality, coupon, maturity and type, indications as to values from dealers, and general market conditions, the following is a description of other Level 2 inputs and related valuation techniques used by independent pricing services to value certain types of debt securities held by the Funds:

Corporate Bonds. Inputs used to value corporate debt securities generally include relative credit information, observed market movements, sector news, U.S. Treasury yield curve or relevant benchmark curve, and other market information, which may include benchmark yield curves, reported trades, broker-dealer quotes, issuer spreads, comparable securities, and reference data, such as market research publications, when available ("Other Market Information").

Convertible Bonds. Inputs used to value convertible bonds generally include underlying stock data, conversion rates, credit specific details, relative listed bond and preferred stock prices and Other Market Information.

U.S. Treasury Obligations. Inputs used to value U.S. Treasury securities generally include quotes from several inter-dealer brokers and Other Market Information.

U.S. Government Agency Securities. Inputs used to value U.S. Government Agency securities generally include obtaining benchmark quotes and Other Market Information.

For information on the Funds’ significant accounting policies, please refer to the Funds’ most recent shareholder reports.

ß Consolidated Notes to Schedule of Investments for Neuberger Berman Commodity Strategy Fund.

Notes to Schedule of Investments^ß Alternative and Multi-Asset Class Funds (Unaudited) (cont’d)

Asset-Backed Securities. Inputs used to value asset-backed securities generally include models that consider a number of factors, which may include the following: prepayment speeds, cash flows, spread adjustments and Other Market Information.

The value of futures contracts is determined by Management by obtaining valuations from independent pricing services at the settlement price at the market close (Level 1 inputs).

The value of total return swaps and total return basket swaps is determined by Management by obtaining valuations from independent pricing services using the underlying asset and stated benchmark interest rate (Level 2 inputs).

Publicly traded securities acquired via a private investment in public equity (PIPE) transaction are typically valued at a discount to the market price of an issuer's common stock. Discounts are applied due to certain trading restrictions imposed or a lack of marketability preceding the conversion to publicly traded securities. The primary inputs used in determining the discount are the length of the lock-up time period and volatility of the underlying security (Level 2 Inputs).

Management has developed a process to periodically review information provided by independent pricing services for all types of securities.

Investments in non-exchange traded investment companies with a readily determinable fair value are valued using the respective fund’s daily calculated net asset value per share (Level 2 inputs).

If a valuation is not available from an independent pricing service, or if Management has reason to believe that the valuation received does not represent the amount a Fund might reasonably expect to receive on a current sale in an orderly transaction, Management seeks to obtain quotations from brokers or dealers (generally considered Level 2 or Level 3 inputs depending on the number of quotes available). If such quotations are not readily available, the security is valued using methods the Funds' Board of Directors (the "Board") has approved in the good-faith belief that the resulting valuation will reflect the fair value of the security. Inputs and assumptions considered in determining the fair value of a security based on Level 2 or Level 3 inputs may include, but are not limited to, the type of the security; the initial cost of the security; the existence of any contractual restrictions on the security's disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer, and/or analysts; an analysis of the company's or issuer's financial statements; an evaluation of the inputs that influence the issuer and the market(s) in which the security is purchased and sold.

The value of the Funds’ investments in foreign securities is generally determined using the same valuation methods and inputs as other Fund investments, as discussed above. Foreign security prices expressed in local currency values are normally translated from the local currency into U.S. dollars using the exchange rates as of 4:00 p.m., Eastern Time on days the New York Stock Exchange is open for business. The Board has approved the use of ICE Data Services (“ICE”) to assist in determining the fair value of foreign equity securities when changes in the value of a certain index suggest that the closing prices on the foreign exchanges may no longer represent the amount that a Fund could expect to receive for those securities or on days when foreign markets are closed and U.S. markets are open. In each of these events, ICE will provide adjusted prices for certain foreign equity securities using a statistical analysis of historical correlations of multiple factors (Level 2 inputs). The Board has also approved the use of ICE to evaluate the prices of foreign debt securities as of the time as of which a Fund’s share price is calculated. ICE utilizes benchmark spread and yield curves and evaluates available market activity from the local close to the time as of which a Fund’s share price is calculated (Level 2 inputs) to assist in determining prices for certain foreign debt securities. In the case of both foreign equity and foreign debt securities, in the absence of precise information about the market values of these foreign securities as of the time as of which a Fund’s share price is calculated, the Board has determined on the basis of available data that prices adjusted or evaluated in this way are likely to be closer to the prices a Fund could realize on a current sale than are the prices of those securities established at the close of the foreign markets in which the securities primarily trade.

Fair value prices are necessarily estimates, and there is no assurance that such a price will be at or close to the price at which the security is next quoted or next trades.

For information on the Funds’ significant accounting policies, please refer to the Funds’ most recent shareholder reports.

ß Consolidated Notes to Schedule of Investments for Neuberger Berman Commodity Strategy Fund.

Notes to Schedule of Investments^ß Alternative and Multi-Asset Class Funds (Unaudited) (cont’d)

For information on the Funds’ significant accounting policies, please refer to the Funds’ most recent shareholder reports.

ß Consolidated Notes to Schedule of Investments for Neuberger Berman Commodity Strategy Fund.

Notes to Schedule of Investments^ß Alternative and Multi-Asset Class Funds (Unaudited) (cont’d)

Legend

Benchmarks:
LIBOR				=		London Interbank Offered Rate
SOFR				=		Secured Overnight Financing Rate

Currency Abbreviations:
AUD		=			Australian Dollar
BRL		=			Brazilian Real
EUR		=			Euro
KRW		=			South Korean Won
USD		=			United States Dollar

Non-Deliverable Forward Contracts:
BRL		=			Brazilian Real
KRW		=			South Korean Won

Counterparties:
GSI	=		Goldman Sachs International
JPM	=		JPMorgan Chase Bank N.A.

Index Periods/Payment Frequencies:
1M	=		1 Month
3M	=		3 Months
6M	=		6 Months
T	=		Termination

Other abbreviations:
PIPE	=		Private investment in public entity

For information on the Funds’ significant accounting policies, please refer to the Funds’ most recent shareholder reports.

ß Consolidated Notes to Schedule of Investments for Neuberger Berman Commodity Strategy Fund.

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Form NPORT-P NEUBERGER BERMAN ALTERNA For: Jul 31

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