NPORT-P
    false
    
      
      
        
          0000865733
          XXXXXXXX
        
      
      
      
      
        S000010531
        C000029064
      
      
      
    
  
  
    
      HOMESTEAD FUNDS INC
      811-06136
      0000865733
      54930064OKHCLZTUHW53
      4301 WILSON BLVD
      ARLINGTON
      
      22203
      800-258-3030
      Growth Fund
      S000010531
      549300CZDTZGDM8FUW36
      2022-12-31
      2022-03-31
      N
    
    
      328047683.06
      1931271.14
      326116411.92
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      N
      
        
          
        
        
        
        
      
      
      
      
      
    
    
      
        salesforce.com Inc
        RCGZFPDMRW58VJ54VR07
        salesforce.com Inc
        79466L302
        
          
        
        41949.00000000
        NS
        USD
        8906611.68000000
        2.731114213958
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Intuit Inc
        VI90HBPH7XSFMB9E4M29
        Intuit Inc
        461202103
        
          
        
        22594.00000000
        NS
        USD
        10864098.96000000
        3.331356093377
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dollar General Corp
        OPX52SQVOZI8IVSWYU66
        Dollar General Corp
        256677105
        
          
        
        17453.00000000
        NS
        USD
        3885561.39000000
        1.191464534742
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Chipotle Mexican Grill Inc
        N/A
        Chipotle Mexican Grill Inc
        169656105
        
          
        
        1883.00000000
        NS
        USD
        2978962.49000000
        0.913465983653
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Vertex Pharmaceuticals Inc
        54930015RAQRRZ5ZGJ91
        Vertex Pharmaceuticals Inc
        92532F100
        
          
        
        12448.00000000
        NS
        USD
        3248554.56000000
        0.996133417779
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        UnitedHealth Group Inc
        549300GHBMY8T5GXDE41
        UnitedHealth Group Inc
        91324P102
        
          
        
        20363.00000000
        NS
        USD
        10384519.11000000
        3.184298223098
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Amphenol Corp
        549300D3L3G0R4U4VT04
        Amphenol Corp
        032095101
        
          
        
        53466.00000000
        NS
        USD
        4028663.10000000
        1.235345095415
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MarketAxess Holdings Inc
        5493002U1CA1XJOVID83
        MarketAxess Holdings Inc
        57060D108
        
          
        
        2044.00000000
        NS
        USD
        695368.80000000
        0.213227171213
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        549300BZ5TGIFZUZDZ37
        State Street Institutional US Government Money Market Fund
        857492706
        
          
        
        475327.98000000
        NS
        USD
        475327.98000000
        0.145754081250
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NIKE Inc
        787RXPR0UX0O0XUXPZ81
        NIKE Inc
        654106103
        
          
        
        13772.00000000
        NS
        USD
        1853160.32000000
        0.568251168068
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HashiCorp Inc
        N/A
        HashiCorp Inc
        418100103
        
          
        
        6265.00000000
        NS
        USD
        338310.00000000
        0.103739029265
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Spotify Technology SA
        549300B4X0JHWV0DTD60
        Spotify Technology SA
        000000000
        
          
        
        21284.00000000
        NS
        USD
        3214309.68000000
        0.985632603117
        Long
        EC
        CORP
        LU
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Carvana Co
        5493003WEAK2PJ5WS063
        Carvana Co
        146869102
        
          
        
        13126.00000000
        NS
        USD
        1565800.54000000
        0.480135461684
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Advanced Micro Devices Inc
        R2I72C950HOYXII45366
        Advanced Micro Devices Inc
        007903107
        
          
        
        24427.00000000
        NS
        USD
        2670848.18000000
        0.818986129607
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PayPal Holdings Inc
        5493005X2GO78EFZ3E94
        PayPal Holdings Inc
        70450Y103
        
          
        
        15725.00000000
        NS
        USD
        1818596.25000000
        0.557652477314
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Alphabet Inc
        5493006MHB84DD0ZWV18
        Alphabet Inc
        02079K305
        
          
        
        8947.00000000
        NS
        USD
        24884738.45000000
        7.630630517333
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Visa Inc
        549300JZ4OKEHW3DPJ59
        Visa Inc
        92826C839
        
          
        
        30543.00000000
        NS
        USD
        6773521.11000000
        2.077025522917
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ASML Holding NV
        724500Y6DUVHQD6OXN27
        ASML Holding NV
        000000000
        
          
        
        8421.00000000
        NS
        USD
        5624638.53000000
        1.724733354229
        Long
        EC
        CORP
        NL
        N
        
        1
        
          N
          N
          N
        
      
      
        Block Inc
        549300OHIIUWSTIZME52
        Block Inc
        852234103
        
          
        
        8585.00000000
        NS
        USD
        1164126.00000000
        0.356966395265
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fiserv Inc
        GI7UBEJLXYLGR2C7GV83
        Fiserv Inc
        337738108
        
          
        
        68038.00000000
        NS
        USD
        6899053.20000000
        2.115518553446
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Microsoft Corp
        INR2EJN1ERAN0W5ZP974
        Microsoft Corp
        594918104
        
          
        
        112640.00000000
        NS
        USD
        34728038.40000000
        10.64896985574
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Insulet Corp
        549300TZTYD2PYN92D43
        Insulet Corp
        45784P101
        
          
        
        8146.00000000
        NS
        USD
        2170012.94000000
        0.665410528474
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Becton Dickinson and Co
        ICE2EP6D98PQUILVRZ91
        Becton Dickinson and Co
        075887109
        
          
        
        9851.00000000
        NS
        USD
        2620366.00000000
        0.803506326030
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Trade Desk Inc/The
        549300GXPD31VT3E0P46
        Trade Desk Inc/The
        88339J105
        
          
        
        19901.00000000
        NS
        USD
        1378144.25000000
        0.422592730579
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Stryker Corp
        5493002F0SC4JTBU5137
        Stryker Corp
        863667101
        
          
        
        25793.00000000
        NS
        USD
        6895758.55000000
        2.114508285370
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Coupang Inc
        549300XR4L1D80AK4W76
        Coupang Inc
        22266T109
        
          
        
        63150.00000000
        NS
        USD
        1116492.00000000
        0.342359954663
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        NVIDIA Corp
        549300S4KLFTLO7GSQ80
        NVIDIA Corp
        67066G104
        
          
        
        26403.00000000
        NS
        USD
        7204322.58000000
        2.209126041092
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Alphabet Inc
        5493006MHB84DD0ZWV18
        Alphabet Inc
        02079K107
        
          
        
        4220.00000000
        NS
        USD
        11786417.80000000
        3.614174990644
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cigna Corp
        549300VIWYMSIGT1U456
        Cigna Corp
        125523100
        
          
        
        33350.00000000
        NS
        USD
        7990993.50000000
        2.450350000158
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fortinet Inc
        549300O0QJWDBAS0QX03
        Fortinet Inc
        34959E109
        
          
        
        14713.00000000
        NS
        USD
        5028020.62000000
        1.541787054014
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MongoDB Inc
        549300TPTG69WKWE1Z37
        MongoDB Inc
        60937P106
        
          
        
        8682.00000000
        NS
        USD
        3851248.38000000
        1.180942828766
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DoorDash Inc
        N/A
        DoorDash Inc
        25809K105
        
          
        
        9321.00000000
        NS
        USD
        1092327.99000000
        0.334950327574
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Netflix Inc
        549300Y7VHGU0I7CE873
        Netflix Inc
        64110L106
        
          
        
        10745.00000000
        NS
        USD
        4024969.55000000
        1.234212509055
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Intuitive Surgical Inc
        54930052SRG011710797
        Intuitive Surgical Inc
        46120E602
        
          
        
        21395.00000000
        NS
        USD
        6454443.60000000
        1.979183924537
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Mastercard Inc
        AR5L2ODV9HN37376R084
        Mastercard Inc
        57636Q104
        
          
        
        12855.00000000
        NS
        USD
        4594119.90000000
        1.408736185018
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Snap Inc
        549300JNC0L6VP8A2Q35
        Snap Inc
        83304A106
        
          
        
        98932.00000000
        NS
        USD
        3560562.68000000
        1.091807265705
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Tesla Inc
        54930043XZGB27CTOV49
        Tesla Inc
        88160R101
        
          
        
        3604.00000000
        NS
        USD
        3883670.40000000
        1.190884683519
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        549300BZ5TGIFZUZDZ37
        State Street Institutional US Government Money Market Fund
        857492706
        
          
        
        3199682.88000000
        NS
        USD
        3199682.88000000
        0.981147456260
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Match Group Inc
        15OMOPB0A8K0EFUVD031
        Match Group Inc
        57667L107
        
          
        
        23801.00000000
        NS
        USD
        2588120.74000000
        0.793618672780
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ServiceNow Inc
        549300HJTQM36M0E1G39
        ServiceNow Inc
        81762P102
        
          
        
        9175.00000000
        NS
        USD
        5109465.75000000
        1.566761304626
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Affirm Holdings Inc
        N/A
        Affirm Holdings Inc
        00827B106
        
          
        
        21226.00000000
        NS
        USD
        982339.28000000
        0.301223503048
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SentinelOne Inc
        N/A
        SentinelOne Inc
        81730H109
        
          
        
        40505.00000000
        NS
        USD
        1569163.70000000
        0.481166737595
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Snowflake Inc
        254900CJNSY1K7T53Z16
        Snowflake Inc
        833445109
        
          
        
        5182.00000000
        NS
        USD
        1187351.66000000
        0.364088287679
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Meta Platforms Inc
        BQ4BKCS1HXDV9HN80Z93
        Meta Platforms Inc
        30303M102
        
          
        
        49863.00000000
        NS
        USD
        11087536.68000000
        3.399870805250
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ross Stores Inc
        549300ENZFLPGRDFZQ60
        Ross Stores Inc
        778296103
        
          
        
        51309.00000000
        NS
        USD
        4641412.14000000
        1.423237828686
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lululemon Athletica Inc
        549300D9GZ4BMLDW5T40
        Lululemon Athletica Inc
        550021109
        
          
        
        6819.00000000
        NS
        USD
        2490503.37000000
        0.763685383184
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Live Nation Entertainment Inc
        5493007B9BM9ZXJINO78
        Live Nation Entertainment Inc
        538034109
        
          
        
        19331.00000000
        NS
        USD
        2274098.84000000
        0.697327321434
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ingersoll Rand Inc
        5299004C02FMZCUOIR50
        Ingersoll Rand Inc
        45687V106
        
          
        
        63788.00000000
        NS
        USD
        3211725.80000000
        0.984840284820
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HCA Healthcare Inc
        529900PH4ZGUH2MNEU89
        HCA Healthcare Inc
        40412C101
        
          
        
        4136.00000000
        NS
        USD
        1036564.32000000
        0.317851013353
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Avantor Inc
        N/A
        Avantor Inc
        05352A100
        
          
        
        93441.00000000
        NS
        USD
        3160174.62000000
        0.969032684186
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Peloton Interactive Inc
        5493002YS021166W0339
        Peloton Interactive Inc
        70614W100
        
          
        
        80861.00000000
        NS
        USD
        2136347.62000000
        0.655087429492
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Humana Inc
        529900YLDW34GJAO4J06
        Humana Inc
        444859102
        
          
        
        7274.00000000
        NS
        USD
        3165426.58000000
        0.970643139780
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Synopsys Inc
        QG7T915N9S0NY5UKNE63
        Synopsys Inc
        871607107
        
          
        
        10907.00000000
        NS
        USD
        3634975.89000000
        1.114625255625
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Apple Inc
        HWUPKR0MPOU8FGXBT394
        Apple Inc
        037833100
        
          
        
        117522.00000000
        NS
        USD
        20520516.42000000
        6.292389977918
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        IAC/InterActiveCorp
        549300TO56L57RP6P031
        IAC/InterActiveCorp
        44891N208
        
          
        
        15373.00000000
        NS
        USD
        1541604.44000000
        0.472715994550
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Rivian Automotive Inc
        N/A
        Rivian Automotive Inc
        76954A103
        
          
        
        13230.00000000
        NS
        USD
        664675.20000000
        0.203815317385
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Booking Holdings Inc
        FXM8FAOHMYDIPD38UZ17
        Booking Holdings Inc
        09857L108
        
          
        
        1574.00000000
        NS
        USD
        3696460.30000000
        1.133478771656
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Global Payments Inc
        549300NOMHGVQBX6S778
        Global Payments Inc
        37940X102
        
          
        
        40917.00000000
        NS
        USD
        5599082.28000000
        1.716896812103
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Amazon.com Inc
        ZXTILKJKG63JELOEG630
        Amazon.com Inc
        023135106
        
          
        
        9229.00000000
        NS
        USD
        30086078.55000000
        9.225564077830
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        UiPath Inc
        5493000YP61KBELDHT53
        UiPath Inc
        90364P105
        
          
        
        35820.00000000
        NS
        USD
        773353.80000000
        0.237140411133
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Atlassian Corp PLC
        549300AGBII4MWBVJY22
        Atlassian Corp PLC
        000000000
        
          
        
        9925.00000000
        NS
        USD
        2916262.75000000
        0.894239800085
        Long
        EC
        CORP
        GB
        
        N
        
        1
        
          N
          N
          N
        
      
    
    
      
    
    
      2022-04-29
      HOMESTEAD FUNDS INC
      Amy DiMauro
      Amy DiMauro
      Treasurer
    
  
  XXXX




Fund Holdings
March 31, 2022
Our Funds
Daily Income Fund (HDIXX)
Short-Term Government Securities Fund (HOSGX)
Short-Term Bond Fund (HOSBX)
Intermediate Bond Fund (HOIBX)
Rural America Growth & Income Fund (HRRLX)
Stock Index Fund (HSTIX)
Value Fund (HOVLX)
Growth Fund (HNASX)
International Equity Fund (HISIX)
Small-Company Stock Fund (HSCSX)
 


Table of Contents


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  39

Table of Contents
Portfolio of Investments
Daily Income Fund  |  March 31, 2022  |  (Unaudited)

U.S. Government & Agency Obligations | 93.7% of portfolio
  Interest Rate /
Yield
Maturity Date Face Amount Value
Federal Farm Credit Bank  0.28%(a)  11/16/22  $1,000,000  $999,987
Federal Farm Credit Bank  0.31(a)  05/19/23  1,000,000  1,000,000
Federal Farm Credit Bank  0.30(a)  06/14/23  500,000  500,000
Federal Farm Credit Bank  0.29(a)  06/23/23  500,000  499,974
Federal Farm Credit Bank  0.30(a)  09/18/23  500,000  500,000
Federal Farm Credit Bank  0.31(a)  09/20/23  1,000,000  1,000,000
Federal Farm Credit Bank  0.32(a)  09/29/23  1,000,000  1,000,000
Federal Farm Credit Bank  0.33(a)  11/07/23  500,000  500,000
Federal Farm Credit Bank  0.31(a)  12/15/23  500,000  499,957
Federal Farm Credit Bank  0.34(a)  01/04/24  500,000  500,000
Federal Farm Credit Bank  0.33(a)  01/10/24  500,000  500,000
Federal Farm Credit Bank  0.31(a)  01/25/24  500,000  500,000
Federal Farm Credit Bank  0.32(a)  03/15/24  500,000  500,000
Federal Home Loan Bank  0.33(a)  05/12/22  6,000,000  6,000,421
Federal Home Loan Bank  0.27(a)  05/18/22  2,000,000  2,000,000
Federal Home Loan Bank  0.28(a)  08/05/22  1,000,000  1,000,000
U.S. Treasury Bill  0.22  04/12/22  11,000,000  10,999,235
U.S. Treasury Bill  0.23  04/19/22  15,000,000  14,998,335
U.S. Treasury Bill  0.17  04/21/22  4,000,000  3,999,617
U.S. Treasury Bill  0.16  04/26/22  7,000,000  6,999,210
U.S. Treasury Bill  0.19  04/28/22  1,000,000  999,858
U.S. Treasury Bill  0.21  05/03/22  7,000,000  6,998,724
U.S. Treasury Bill  0.24  05/05/22  4,000,000  3,999,093
U.S. Treasury Bill  0.27  05/10/22  3,000,000  2,999,121
U.S. Treasury Bill  0.29  05/12/22  6,000,000  5,998,018
U.S. Treasury Bill  0.28  05/17/22  10,000,000  9,996,512
U.S. Treasury Bill  0.30  05/24/22  5,000,000  4,997,821
U.S. Treasury Bill  0.39  05/26/22  7,000,000  6,995,936
U.S. Treasury Bill  0.29  05/31/22  3,000,000  2,998,575
U.S. Treasury Bill  0.32  06/02/22  6,000,000  5,996,745
U.S. Treasury Bill  0.35  06/07/22  3,000,000  2,998,102
U.S. Treasury Bill  0.39  06/09/22  6,000,000  5,995,630
U.S. Treasury Bill  0.37  06/16/22  6,500,000  6,495,028
U.S. Treasury Bill  0.56  06/21/22  3,000,000  2,996,288
U.S. Treasury Bill  0.49  06/23/22  6,000,000  5,993,360
U.S. Treasury Bill  0.58  06/28/22  1,000,000  998,607
U.S. Treasury Bill  0.61  06/30/22  6,000,000  5,990,925
U.S. Treasury Bill  0.54  07/05/22  3,000,000  2,995,765
U.S. Treasury Bill  0.08  07/14/22  1,000,000  999,783
U.S. Treasury Bill  0.68  07/19/22  3,000,000  2,993,960
U.S. Treasury Bill  0.72  07/26/22  2,000,000  1,995,424
U.S. Treasury Bill  0.82  08/02/22  2,000,000  1,994,678
U.S. Treasury Bill  0.08  08/11/22  5,000,000  4,998,533
U.S. Treasury Bill  0.72  08/25/22  2,000,000  1,994,241
U.S. Treasury Note  0.66(a)  07/31/22  4,000,000  4,000,605
U.S. Treasury Note  2.00  07/31/22  2,000,000  2,012,661
U.S. Treasury Note  0.65(a)  01/31/23  6,000,000  6,001,219
U.S. Treasury Note  0.64(a)  04/30/23  4,100,000  4,100,197
U.S. Treasury Note  0.63(a)  07/31/23  3,500,000  3,500,040
U.S. Treasury Note  0.64(a)  10/31/23  5,500,000  5,500,152
U.S. Treasury Note  0.59(a)  01/31/24  500,000  499,842
Total U.S. Government & Agency Obligations        
(Cost $181,532,179)       181,532,179
    
                
1

Table of Contents
Portfolio of Investments  |  Daily Income Fund  |  March 31, 2022  |  (Unaudited)  |  (Continued)
Money Market Fund | 6.3% of portfolio
  Interest Rate /Yield   Shares Value
State Street Institutional U.S. Government Money Market Fund Premier Class  0.25%(b)    12,250,433  $12,250,433
Total Money Market Fund        
(Cost $12,250,433)       12,250,433
Total Investments in Securities        
(Cost $193,782,612) | 100.0%       $193,782,612
(a) Variable coupon rate as of March 31, 2022.
(b) 7-day yield at March 31, 2022.
At March 31, 2022, the cost of investment securities for tax purposes was $193,782,612. There were no unrealized gains or losses.
Accounting principles generally accepted in the United States (GAAP) establish a disclosure hierarchy that categorized the inputs used to value assets and liabilities at measurement date. These inputs are summarized into three broad levels as follows:
Level 1 - quoted prices in active markets for identical investments;
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and
Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair valuation of investments).
The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy during the period. For more information regarding the Fund’s valuation policies please refer to the Fund’s most recent financial report.
Daily Income Fund Level 1 Level 2 Level 3 Total
U.S. Government & Agency Obligations

$$181,532,179 $$181,532,179
Money Market Fund

12,250,433 12,250,433
Total $12,250,433 $181,532,179 $ — $193,782,612
2
                

Table of Contents
Portfolio of Investments
Short-Term Government Securities Fund  |  March 31, 2022  |  (Unaudited)

U.S. Government & Agency Obligations | 54.0% of portfolio
  Interest Rate /
Yield
Maturity Date Face Amount Value
Export-Import Bank of the U.S.  1.90%  07/12/24  $784,847  $780,395
Export-Import Bank of the U.S.  1.73  09/18/24  1,923,646  1,906,078
Export-Import Bank of the U.S.  1.58  11/16/24  141,335  139,596
Export-Import Bank of the U.S.  2.54  07/13/25  173,177  172,600
Export-Import Bank of the U.S.  2.33  01/14/27  224,999  218,853
Private Export Funding Corp.  1.75  11/15/24  1,000,000  974,992
U.S. Department of Housing & Urban Development  6.12  08/01/22  10,000  10,188
U.S. Department of Housing & Urban Development  5.77  08/01/26  46,000  46,571
U.S. International Development Finance Corp.  2.22(a)  01/24/25  2,000,000  2,079,246
U.S. International Development Finance Corp.  1.27(a)  06/21/25  1,000,000  977,342
U.S. International Development Finance Corp.  0.00(b)  07/17/25  1,000,000  945,698
U.S. International Development Finance Corp.  0.00(b)  01/17/26  700,000  724,880
U.S. International Development Finance Corp.  1.11  05/15/29  1,000,000  940,005
U.S. International Development Finance Corp.  2.36  10/15/29  1,787,412  1,754,261
U.S. International Development Finance Corp.  1.05  10/15/29  1,787,412  1,666,830
U.S. International Development Finance Corp.  1.24  08/15/31  1,500,000  1,390,320
U.S. Treasury Note  1.50  02/29/24  9,230,000  9,095,516
U.S. Treasury Note  0.25  07/31/25  12,555,000  11,639,858
U.S. Treasury Note  1.88  02/28/27  880,000  856,419
U.S. Treasury Note  0.75  01/31/28  4,465,000  4,050,243
Total U.S. Government & Agency Obligations        
(Cost $41,188,577)       40,369,891
    
Corporate Bonds Guaranteed by Export-Import Bank of the United States | 38.6% of portfolio
Consumer Discretionary | 0.1%    
Ethiopian Leasing (2012) LLC  2.68  07/30/25  65,793  65,717
Total Consumer Discretionary       65,717
Energy | 12.3%    
Petroleos Mexicanos  1.95  12/20/22  0  0
Petroleos Mexicanos  1.70  12/20/22  57,000  56,927
Petroleos Mexicanos  2.38  04/15/25  567,350  564,964
Petroleos Mexicanos  0.59(c)  04/15/25  2,112,500  2,113,492
Petroleos Mexicanos  2.46  12/15/25  694,000  689,616
Reliance Industries Ltd.  2.06  01/15/26  2,163,200  2,131,121
Reliance Industries Ltd.  1.87  01/15/26  2,787,368  2,735,695
Reliance Industries Ltd.  2.44  01/15/26  875,789  869,464
Total Energy       9,161,279
Financials | 26.2%    
CES MU2 LLC  1.99  05/13/27  1,714,175  1,673,464
Durrah MSN 35603  1.68  01/22/25  560,883  554,227
DY8 Leasing LLC  2.63  04/29/26  177,083  176,368
DY9 Leasing LLC  2.37  03/19/27  619,339  611,246
Export Lease Eleven Co. LLC  0.58(c)  07/30/25  65,142  65,112
Helios Leasing II LLC  2.67  03/18/25  1,731,715  1,730,791
HNA 2015 LLC  2.29  06/30/27  251,817  247,388
HNA 2015 LLC  2.37  09/18/27  147,891  145,251
KE Export Leasing 2013-A LLC  0.75(c)  02/25/25  1,852,355  1,850,893
Lulwa Ltd.  1.89  02/15/25  1,115,812  1,105,176
Lulwa Ltd.  1.83  03/26/25  352,621  348,692
MSN 41079 and 41084 Ltd.  1.72  07/13/24  1,900,494  1,882,093
MSN 41079 and 41084 Ltd.  1.63  12/14/24  490,570  484,514
Osprey Aircraft Leasing LLC  2.21  06/21/25  120,405  119,423
Penta Aircraft Leasing 2013 LLC  1.69  04/29/25  570,478  561,743
                
3

Table of Contents
Portfolio of Investments  |  Short-Term Government Securities Fund  |  March 31, 2022  |  
(Unaudited)  |  (Continued)
Corporate Bonds Guaranteed by Export-Import Bank of the United States | 38.6% of portfolio (Continued)
  Interest Rate /Yield Maturity Date Face Amount Value
Financials | 26.2% (Continued)    
Pluto Aircraft Leasing LLC  0.53%(c)  02/07/23  $969,692  $968,578
Rimon LLC  2.45  11/01/25  168,750  167,764
Safina Ltd.  2.00  12/30/23  722,085  719,937
Salmon River Export LLC  2.19  09/15/26  791,862  782,176
Sandalwood 2013 LLC  2.84  07/10/25  258,203  258,830
Sandalwood 2013 LLC  2.82  02/12/26  333,269  333,294
Santa Rosa Leasing LLC  1.69  08/15/24  149,930  148,665
Santa Rosa Leasing LLC  1.47  11/03/24  246,503  243,153
Thirax 1 LLC  0.97  01/14/33  1,844,017  1,649,081
VCK Lease SA  2.59  07/24/26  51,524  51,229
Washington Aircraft 2 Co. DAC  1.40(c)  06/26/24  2,716,274  2,722,454
Total Financials       19,601,542
Total Corporate Bonds Guaranteed by Export-Import Bank of the United States        
(Cost $29,432,334)       28,828,538
Asset-Backed Securities | 4.0% of portfolio
American Credit Acceptance Receivables Trust 22-1A (d)  0.99  12/15/25  232,746  231,304
Carvana Auto Receivables Trust 20-N1A (d)  2.01  03/17/25  123,290  123,292
Consumer Loan Underlying Bond 19-HP1 (d)  2.59  12/15/26  3,903  3,905
Credit Acceptance Auto Loan Trust 20-3A (d)  1.24  10/15/29  250,000  245,912
First Investors Auto Owner Trust 21-2A (d)  0.48  03/15/27  142,977  140,056
Freedom Financial 21-2 (d)  0.68  06/19/28  18,409  18,382
GLS Auto Receivables Trust 21-3A (d)  0.42  01/15/25  95,528  94,580
GLS Auto Receivables Trust 21-4 (d)  0.84  07/15/25  169,149  167,566
Gracie Point International Fund 21-1 (d)  0.86(c)  11/01/23  205,967  205,407
LAD Auto Receivables Trust 21-1 (d)  1.30  08/17/26  229,852  225,230
Marlette Funding Trust 21-1 (d)  0.60  06/16/31  78,221  77,906
Oasis Securitisation 21-1A (d)  2.58  02/15/33  108,850  108,554
Oasis Securitisation 21-2A (d)  2.14  10/15/33  254,290  251,574
SBA Tower Trust (d)  3.45  03/15/23  290,000  290,041
SBA Tower Trust (d)  2.84  01/15/25  250,000  245,928
United Auto Credit Securitization Trust 22-1A (d)  1.11  07/10/24  180,301  179,826
Upstart Securitization Trust 21-3 (d)  0.83  07/20/31  102,298  100,460
Westgate Resorts 22-1A (d)  2.29  08/20/36  288,375  280,021
Total Asset-Backed Securities        
(Cost $3,032,661)       2,989,944
Corporate Bonds–Other | 1.4% of portfolio
Financials | 1.4%    
Athene Global Funding (d)  2.50  01/14/25  100,000  97,055
J.P. Morgan Chase & Co.  1.04(c)  02/04/27  100,000  91,632
Main Street Capital Corp.  3.00  07/14/26  415,000  384,762
Owl Rock Capital Corp. III (d)  3.13  04/13/27  250,000  221,149
Owl Rock Core Income Corp. (d)  3.13  09/23/26  250,000  225,883
Total Financials       1,020,481
Total Corporate Bonds–Other        
(Cost $1,114,464)       1,020,481
    
4
                

Table of Contents
Portfolio of Investments  |  Short-Term Government Securities Fund  |  March 31, 2022  |  
(Unaudited)  |  (Continued)
Mortgage-Backed Security | 0.8% of portfolio
  Interest Rate /Yield Maturity Date Face Amount Value
GNMA 21-8  1.00%  01/20/50  $625,816  $569,725
Total Mortgage-Backed Security        
(Cost $626,295)       569,725
    
Municipal Bonds | 0.5% of portfolio
New York | 0.2%    
Suffolk County New York  0.90  06/15/22  100,000  99,912
Suffolk County New York  1.05  06/15/23  100,000  98,542
Total New York       198,454
Texas | 0.3%    
Harris County Texas Cultural Education Facilities Finance Corp.  1.45  11/15/22  200,000  199,836
Total Texas       199,836
Total Municipal Bonds        
(Cost $400,000)       398,290
    
Money Market Fund | 0.7% of portfolio
      Shares  
State Street Institutional U.S. Government Money Market Fund Premier Class  0.25(e)    549,421  549,421
Total Money Market Fund        
(Cost $549,421)       549,421
Total Investments in Securities        
(Cost $76,343,752) | 100.0%       $74,726,290
(a) Interest is paid at maturity.
(b) Zero coupon rate, purchased at a discount.
(c) Variable coupon rate as of March 31, 2022.
(d) Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be resold in transactions exempt from registration, normally to qualified institutional buyers. The securities have been determined to be liquid under criteria established by the Fund's Board of Directors. The total of such securities at period-end amounts to $3,534,031 and represents 4.7% of total investments.
(e) 7-day yield at March 31, 2022.
LLC - Limited Liability Company
SA - Sociedad Anonima or Societe Anonyme
DAC - Designated Activity Company
At March 31, 2022, the cost of investment securities for tax purposes was $76,343,752. Net unrealized depreciation of investment securities was $1,617,462 consisting of unrealized gains of $49,790 and unrealized losses of $1,667,252.
Accounting principles generally accepted in the United States (GAAP) establish a disclosure hierarchy that categorized the inputs used to value assets and liabilities at measurement date. These inputs are summarized into three broad levels as follows:
Level 1 - quoted prices in active markets for identical investments;
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and
Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair valuation of investments).
                
5

Table of Contents
Portfolio of Investments  |  Short-Term Government Securities Fund  |  March 31, 2022  |  
(Unaudited)  |  (Continued)
The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy during the period. For more information regarding the Fund’s valuation policies please refer to the Fund’s most recent financial report.
Short-Term Government Securities Fund Level 1 Level 2 Level 3 Total
U.S. Government & Agency Obligations

$$40,369,891 $$40,369,891
Corporate Bonds Guaranteed by Export-Import Bank of the United States

28,828,538 28,828,538
Asset-Backed Securities

2,989,944 2,989,944
Corporate Bonds–Other

1,020,481 1,020,481
Mortgage-Backed Security

569,725 569,725
Municipal Bonds

398,290 398,290
Money Market Fund

549,421 549,421
Total $549,421 $74,176,869 $ — $74,726,290
6
                

Table of Contents
Portfolio of Investments
Short-Term Bond Fund  |  March 31, 2022  |  (Unaudited)

U.S. Government & Agency Obligations | 36.1% of portfolio
  Interest Rate /
Yield
Maturity Date Face Amount Value
U.S. Department of Housing & Urban Development  6.12%  08/01/22  $10,000  $10,188
U.S. International Development Finance Corp.  0.67(a)  04/23/29  1,230,000  1,168,161
U.S. International Development Finance Corp.  2.36  10/15/29  755,182  741,175
U.S. International Development Finance Corp.  1.05  10/15/29  1,085,853  1,012,599
U.S. Treasury Note  0.64(b)  10/31/23  15,900,000  15,928,646
U.S. Treasury Note  1.50  02/29/24  54,132,000  53,343,280
U.S. Treasury Note  1.75  03/15/25  55,702,000  54,522,684
U.S. Treasury Note  0.25  07/31/25  54,405,000  50,439,386
U.S. Treasury Note  1.88  02/28/27  15,990,000  15,561,518
Total U.S. Government & Agency Obligations        
(Cost $193,966,002)       192,727,637
    
Corporate Bonds–Other | 30.3% of portfolio
Communication Services | 1.5%    
Magallanes, Inc. (c)  3.43  03/15/24  850,000  854,660
Magallanes, Inc. (c)  3.76  03/15/27  1,355,000  1,352,533
Sprint Spectrum Co. LLC (c)  4.74  03/20/25  1,500,000  1,531,494
Verizon Communications Inc.  0.85  11/20/25  1,700,000  1,572,800
Verizon Communications Inc.  3.00  03/22/27  2,500,000  2,470,792
Total Communication Services       7,782,279
Consumer Discretionary | 1.2%    
Daimler Finance N.A. LLC (c)  3.30  05/19/25  920,000  918,100
Daimler Trucks Financial N.A. LLC (c)  1.63  12/13/24  1,500,000  1,432,096
Daimler Trucks Financial N.A. LLC (c)  3.50  04/07/25  1,255,000  1,253,619
US Airways 2013 1A PTT  3.95  05/15/27  3,057,667  2,920,366
Total Consumer Discretionary       6,524,181
Consumer Staples | 0.9%    
7-Eleven, Inc. (c)  0.63  02/10/23  1,000,000  984,424
7-Eleven, Inc. (c)  0.80  02/10/24  1,090,000  1,047,094
7-Eleven, Inc. (c)  0.95  02/10/26  800,000  727,102
Altria Group, Inc.  4.40  02/14/26  2,055,000  2,125,650
Total Consumer Staples       4,884,270
Energy | 2.8%    
Cheniere Corpus Christi Holdings LLC  5.13  06/30/27  2,000,000  2,131,854
Energy Transfer Operating LP  4.50  04/15/24  1,100,000  1,125,486
Energy Transfer Operating LP  2.90  05/15/25  2,900,000  2,836,639
Midwest Connector Capital Co. LLC (c)  3.63  04/01/22  2,176,000  2,176,000
Midwest Connector Capital Co. LLC (c)  3.90  04/01/24  3,270,000  3,280,248
Phillips 66 Co.  1.30  02/15/26  1,500,000  1,401,707
Pioneer Natural Resources Co.  1.13  01/15/26  2,000,000  1,854,785
Total Energy       14,806,719
Financials | 14.6%    
Antares Holdings LP  2.75  01/15/27  1,000,000  878,888
Athene Global Funding (c)  2.50  01/14/25  5,715,000  5,546,683
Bank of America Corp.  4.00  01/22/25  1,210,000  1,232,155
Bank of America Corp.  3.95  04/21/25  2,210,000  2,251,973
Bank of America Corp.  2.46(b)  10/22/25  2,200,000  2,161,721
Bank of America Corp.  2.02(b)  02/13/26  2,100,000  2,021,354
Bank of America Corp.  1.32(b)  06/19/26  2,100,000  1,968,059
                
7

Table of Contents
Portfolio of Investments  |  Short-Term Bond Fund  |  March 31, 2022  |  (Unaudited)  |  
(Continued)
Corporate Bonds–Other | 30.3% of portfolio (Continued)
  Interest Rate /Yield Maturity Date Face Amount Value
Financials | 14.6% (Continued)    
Bank of America Corp.  1.20%(b)  10/24/26  $920,000  $850,250
BOC Aviation (USA) Corp. (c)  1.63  04/29/24  2,100,000  2,017,155
Capital Southwest Corp.  3.38  10/01/26  1,355,000  1,321,125
Citigroup Inc.  7.00  12/01/25  4,000,000  4,455,784
Citigroup Inc.  3.11(b)  04/08/26  1,800,000  1,784,701
CNO Global Funding (c)  1.65  01/06/25  1,125,000  1,071,218
F&G Global Funding (c)  1.75  06/30/26  2,500,000  2,323,596
Fidus Investment Corp.  4.75  01/31/26  304,000  306,243
Fidus Investment Corp.  3.50  11/15/26  693,000  663,821
GA Global Funding Trust (c)  0.80  09/13/24  920,000  861,610
GA Global Funding Trust (c)  2.25  01/06/27  2,370,000  2,212,405
Goldman Sachs Group, Inc.  3.50  04/01/25  2,065,000  2,080,401
Goldman Sachs Group, Inc.  2.64(b)  02/24/28  930,000  889,198
Goldman Sachs Group, Inc.  3.62(b)  03/15/28  572,000  571,199
J.P. Morgan Chase & Co.  4.02(b)  12/05/24  1,225,000  1,244,610
J.P. Morgan Chase & Co.  2.30(b)  10/15/25  2,130,000  2,086,093
J.P. Morgan Chase & Co.  2.08(b)  04/22/26  2,055,000  1,983,086
J.P. Morgan Chase & Co.  1.04(b)  02/04/27  910,000  833,849
Main Street Capital Corp.  5.20  05/01/24  1,271,000  1,297,010
Main Street Capital Corp.  3.00  07/14/26  3,502,000  3,246,832
Morgan Stanley  3.74(b)  04/24/24  1,020,000  1,030,094
Morgan Stanley  2.63(b)  02/18/26  1,365,000  1,338,984
Morgan Stanley  2.19(b)  04/28/26  425,000  410,537
Morgan Stanley  1.51(b)  07/20/27  865,000  795,111
Owl Rock Capital Corp. III (c)  3.13  04/13/27  2,320,000  2,052,263
Owl Rock Core Income Corp. (c)  3.13  09/23/26  4,955,000  4,477,014
Owl Rock Technology Finance Corp.  2.50  01/15/27  1,415,000  1,277,930
Santander Holdings USA, Inc.  2.49(b)  01/06/28  1,000,000  933,001
SCE Recovery Funding LLC  0.86  11/15/31  1,813,732  1,632,932
Security Benefit Global Funding (c)  1.25  05/17/24  4,000,000  3,822,445
Volkswagen Group of America Finance LLC (c)  1.25  11/24/25  6,555,000  6,041,875
Wells Fargo & Co.  2.16(b)  02/11/26  3,270,000  3,162,968
Wells Fargo & Co.  2.19(b)  04/30/26  2,120,000  2,045,043
Wells Fargo & Co.  3.53(b)  03/24/28  915,000  913,162
Total Financials       78,094,378
Health Care | 1.5%    
AmerisourceBergen Corp.  0.74  03/15/23  5,000,000  4,926,356
Baylor Scott & White Holdings  0.83  11/15/25  1,000,000  922,612
Bio-Rad Laboratories, Inc.  3.30  03/15/27  500,000  491,949
Laboratory Corporation of America Holdings  1.55  06/01/26  2,000,000  1,862,260
Total Health Care       8,203,177
Industrials | 2.9%    
American Airlines Group Inc.  3.60  03/22/29  2,147,361  2,086,845
American Airlines Group Inc.  3.95  01/11/32  1,000,000  904,666
BNSF Railway Co. (c)  3.44  06/16/28  377,757  385,195
Boeing Co. (The)  2.20  02/04/26  3,800,000  3,592,583
Burlington Northern & Santa Fe Railway Co.  4.83  01/15/23  1,642  1,647
Delta Air Lines, Inc. (c)  7.00  05/01/25  965,000  1,033,626
Delta Air Lines, Inc.  7.38  01/15/26  730,000  792,769
Triton Container International Ltd. (c)  1.15  06/07/24  2,110,000  2,001,805
United Airlines, Inc.  5.88  04/15/29  4,375,354  4,528,869
Total Industrials       15,328,005
8
                

Table of Contents
Portfolio of Investments  |  Short-Term Bond Fund  |  March 31, 2022  |  (Unaudited)  |  
(Continued)
Corporate Bonds–Other | 30.3% of portfolio (Continued)
  Interest Rate /Yield Maturity Date Face Amount Value
Information Technology | 0.9%    
Harman International Industries Inc.  4.15%  05/15/25  $1,800,000  $1,840,069
Tsmc Arizona Corp.  1.75  10/25/26  3,300,000  3,092,569
Total Information Technology       4,932,638
Materials | 0.6%    
Georgia-Pacific LLC (c)  0.95  05/15/26  1,450,000  1,322,995
Sealed Air Corp. (c)  1.57  10/15/26  2,200,000  2,004,173
Total Materials       3,327,168
Real Estate | 0.2%    
Service Properties Trust  7.50  09/15/25  930,000  975,617
Total Real Estate       975,617
Utilities | 3.2%    
Brooklyn Union Gas Co. (c)  3.41  03/10/26  3,200,000  3,168,175
Entergy Louisiana, LLC  3.78  04/01/25  1,445,000  1,454,553
Metropolitan Edison Co. (c)  4.00  04/15/25  4,250,000  4,227,697
Pacific Gas and Electric Co.  3.75  02/15/24  3,500,000  3,511,768
PPL Electric Utilities Corp.  1.22(b)  09/28/23  1,000,000  995,126
Southern California Edison Co.  1.10  04/01/24  1,850,000  1,785,232
Southern California Edison Co.  1.20  02/01/26  2,065,000  1,899,036
Total Utilities       17,041,587
Total Corporate Bonds–Other        
(Cost $169,876,145)       161,900,019
    
Asset-Backed Securities | 12.4% of portfolio
American Credit Acceptance Receivables Trust 20-3B (c)  1.15  08/13/24  290,891  290,801
American Credit Acceptance Receivables Trust 21-2B (c)  0.68  05/13/25  625,000  620,425
American Credit Acceptance Receivables Trust 21-4B (c)  0.86  02/13/26  1,081,000  1,051,516
American Credit Acceptance Receivables Trust 22-1A (c)  0.99  12/15/25  1,782,831  1,771,786
Avant Credit Card Master Trust 21-1A (c)  1.37  04/15/27  2,500,000  2,375,935
Avid Automobile Receivables Trust 21-1A (c)  0.61  01/15/25  493,023  489,744
Carvana Auto Receivables Trust 20-N1A (c)  2.01  03/17/25  769,332  769,340
CNH Equipment Trust 22-A  2.39  08/15/25  385,000  384,991
Colony American Finance Ltd. 21-2 (c)  1.41  07/15/54  835,687  767,163
Consumer Loan Underlying Bond 19-HP1 (c)  2.59  12/15/26  57,964  57,982
CoreVest American Finance 20-4 (c)  1.17  12/15/52  817,765  758,667
CoreVest American Finance 21-1 (c)  1.57  04/15/53  1,211,317  1,116,629
CoreVest American Finance 21-3 (c)  2.49  10/15/54  2,480,000  2,291,089
CPS Auto Trust 21-B (c)  0.81  12/15/25  920,000  904,238
Credit Acceptance Auto Loan Trust 19-1C (c)  3.94  06/15/28  663,136  664,451
Credit Acceptance Auto Loan Trust 20-1A (c)  2.01  02/15/29  1,496,526  1,496,516
Credit Acceptance Auto Loan Trust 20-2A (c)  1.37  07/16/29  870,000  861,624
Credit Acceptance Auto Loan Trust 20-3A (c)  1.24  10/15/29  2,500,000  2,459,118
Credit Acceptance Auto Loan Trust 21-2A (c)  0.96  02/15/30  1,755,000  1,697,055
Credito Real USA Auto Receivables Trust 21-1 (c)  1.35  02/16/27  1,333,202  1,309,064
DT Auto Owner Trust 18-2D (c)  4.15  03/15/24  75,585  75,850
DT Auto Owner Trust 20-3A (c)  0.54  04/15/24  208,001  207,762
Entergy New Orleans Storm Recovery Fund 15-1  2.67  06/01/27  313,753  310,649
FIC Funding 21-1 (c)  1.13  04/15/33  860,252  851,454
First Investors Auto Owner Trust 21-2A (c)  0.48  03/15/27  1,751,472  1,715,691
Flagship Credit Auto Trust 21-3 (c)  0.36  07/15/27  3,132,805  3,066,082
Foursight Capital Automobile Receivables Trust 22-1A (c)  1.15  09/15/25  585,000  576,735
                
9

Table of Contents
Portfolio of Investments  |  Short-Term Bond Fund  |  March 31, 2022  |  (Unaudited)  |  
(Continued)
Asset-Backed Securities | 12.4% of portfolio (Continued)
  Interest Rate /Yield Maturity Date Face Amount Value
Freedom Financial 21-2 (c)  0.68%  06/19/28  $118,824  $118,649
FRTKL 21-SFR1 (c)  1.57  09/17/38  970,000  878,117
GLS Auto Receivables Trust 20-2 (c)  1.58  08/15/24  353,341  353,444
GLS Auto Receivables Trust 20-4 (c)  0.52  02/15/24  85,579  85,549
GLS Auto Receivables Trust 21-3A (c)  0.42  01/15/25  1,286,442  1,273,680
GLS Auto Receivables Trust 21-4 (c)  0.84  07/15/25  2,355,405  2,333,357
Gracie Point International Fund 20-B (c)  1.51(b)  05/02/23  749,971  751,432
Gracie Point International Fund 21-1 (c)  0.86(b)  11/01/23  1,489,764  1,485,712
Gracie Point International Fund 22-1 (c)  2.36(b)  04/01/24  1,496,000  1,496,935
LAD Auto Receivables Trust 21-1 (c)  1.30  08/17/26  1,394,433  1,366,396
Longtrain Leasing III LLC 2015-1 (c)  2.98  01/15/45  271,759  270,039
Marlette Funding Trust 21-1 (c)  0.60  06/16/31  273,772  272,672
NP SPE II LLC 17-1 (c)  3.37  10/21/47  321,676  317,753
Oasis Securitisation 21-1A (c)  2.58  02/15/33  603,898  602,255
Oasis Securitisation 21-2A (c)  2.14  10/15/33  2,148,747  2,125,804
Oportun Funding 21-A (c)  1.21  03/08/28  1,070,000  1,038,869
Oportun Funding 21-B (c)  1.47  05/08/31  2,225,000  2,100,479
Oscar US Funding Trust 21-1A (c)  0.40  03/11/24  476,408  473,335
Progress Residential Trust 21-SFR8 (c)  1.51  10/17/38  1,322,000  1,198,853
SBA Tower Trust (c)  3.45  03/15/23  2,420,000  2,420,340
SBA Tower Trust (c)  2.84  01/15/25  4,765,000  4,687,387
SBA Tower Trust (c)  1.88  01/15/26  1,450,000  1,368,017
SBA Tower Trust (c)  1.63  11/15/26  195,000  183,250
United Auto Credit Securitization Trust 21-1A (c)  0.34  07/10/23  181,225  181,110
United Auto Credit Securitization Trust 21-1B (c)  0.68  03/11/24  3,230,000  3,215,065
United Auto Credit Securitization Trust 22-1A (c)  1.11  07/10/24  1,063,774  1,060,975
Upstart Securitization Trust 21-1 (c)  0.87  03/20/31  409,599  405,843
Upstart Securitization Trust 21-3 (c)  0.83  07/20/31  675,969  663,821
Upstart Securitization Trust 21-4 (c)  0.84  09/20/31  1,201,114  1,168,325
Westgate Resorts 20-1A (c)  3.96  03/20/34  913,827  917,282
Westgate Resorts 22-1A (c)  2.29  08/20/36  1,345,749  1,306,764
Westlake Automobile Receivable Trust 19-2A (c)  2.84  07/15/24  361,176  361,620
Westlake Automobile Receivable Trust 20-3A (c)  0.56  05/15/24  787,650  785,765
Total Asset-Backed Securities        
(Cost $67,943,099)       66,211,251
    
Yankee Bonds | 11.4% of portfolio
Aircastle Ltd. (c)  5.25  08/11/25  1,243,000  1,266,276
Antares Holdings LP  3.95  07/15/26  335,000  312,268
Avolon Holdings Funding Ltd. (c)  2.88  02/15/25  1,840,000  1,766,728
Avolon Holdings Funding Ltd. (c)  5.50  01/15/26  1,850,000  1,909,305
Avolon Holdings Funding Ltd. (c)  2.13  02/21/26  1,500,000  1,369,548
Banco Bilbao Vizcaya Argentaria SA  1.13  09/18/25  800,000  736,960
Banco Santader SA  3.50  03/24/25  800,000  800,520
Banco Santader SA  4.18(b)  03/24/28  1,000,000  1,005,072
Bank of Montreal  4.34(b)  10/05/28  1,300,000  1,320,179
Delta and SkyMiles IP Ltd. (c)  4.50  10/20/25  780,000  784,532
Delta and SkyMiles IP Ltd. (c)  4.75  10/20/28  2,000,000  2,015,313
Enel Finance International NV (c)  2.65  09/10/24  3,275,000  3,225,852
JBS Finance Luxembourg SARL (c)  2.50  01/15/27  3,364,000  3,124,349
Legrand France SA  8.50  02/15/25  3,384,000  3,874,696
Macquarie Group Ltd. (c)  1.34(b)  01/12/27  2,500,000  2,277,697
Mitsubishi UFJ Financial Group  2.34(b)  01/19/28  850,000  802,812
Nationwide Building Society (c)  3.62(b)  04/26/23  1,980,000  1,980,354
Nationwide Building Society (c)  2.97(b)  02/16/28  1,500,000  1,426,981
NatWest Group PLC  2.36(b)  05/22/24  845,000  838,135
NatWest Group PLC  4.52(b)  06/25/24  1,325,000  1,344,954
10
                

Table of Contents
Portfolio of Investments  |  Short-Term Bond Fund  |  March 31, 2022  |  (Unaudited)  |  
(Continued)
Yankee Bonds | 11.4% of portfolio (Continued)
  Interest Rate /Yield Maturity Date Face Amount Value
NatWest Group PLC  4.27%(b)  03/22/25  $1,330,000  $1,345,427
Nissan Motor Co., Ltd. (c)  3.52  09/17/25  2,500,000  2,450,130
Nissan Motor Co., Ltd. (c)  1.85  09/16/26  2,000,000  1,790,778
Nissan Motor Co., Ltd. (c)  4.35  09/17/27  1,850,000  1,822,948
Panasonic Corp. (c)  2.68  07/19/24  3,880,000  3,832,486
Reckitt Benckiser Treasury Services PLC (c)  2.75  06/26/24  1,100,000  1,097,579
Royal Bank of Canada  4.65  01/27/26  2,500,000  2,605,799
Saudi Arabian Oil Co. (c)  1.25  11/24/23  800,000  781,251
Saudi Arabian Oil Co. (c)  1.63  11/24/25  500,000  474,141
Sinopec Group Overseas Development (2012) Ltd.  (c)  3.90  05/17/22  2,100,000  2,103,025
Sumitomo Mitsui Trust Bank Ltd. (c)  0.80  09/16/24  2,500,000  2,359,556
Syngenta Finance NV (c)  4.44  04/24/23  400,000  405,324
Tencent Music Entertainment Group  1.38  09/03/25  1,260,000  1,154,312
TransCanada Pipelines Ltd.  7.06  10/14/25  6,043,000  6,728,370
Total Yankee Bonds        
(Cost $63,820,664)       61,133,657
Corporate Bonds Guaranteed by Export-Import Bank of the United States | 2.6% of portfolio
Energy | 1.7%    
Petroleos Mexicanos  0.59(b)  04/15/25  7,621,250  7,624,830
Petroleos Mexicanos  2.46  12/15/25  175,600  174,491
Reliance Industries Ltd.  1.87  01/15/26  1,267,789  1,244,286
Total Energy       9,043,607
Financials | 0.9%    
MSN 41079 and 41084 Ltd.  1.72  07/13/24  537,259  532,057
MSN 41079 and 41084 Ltd.  1.63  12/14/24  648,288  640,286
Pluto Aircraft Leasing LLC  0.53(b)  02/07/23  113,212  113,082
Santa Rosa Leasing LLC  1.69  08/15/24  570,375  565,564
Thirax 1 LLC  0.97  01/14/33  2,212,820  1,978,898
Washington Aircraft 2 Co. DAC  1.40(b)  06/26/24  788,636  790,430
Total Financials       4,620,317
Total Corporate Bonds Guaranteed by Export-Import Bank of the United States        
(Cost $13,949,095)       13,663,924
    
Municipal Bonds | 1.3% of portfolio
Arizona | 0.4%    
Glendale Arizona  1.45  07/01/26  1,000,000  938,628
Glendale Arizona  1.72  07/01/27  1,235,000  1,154,025
Total Arizona       2,092,653
California | 0.1%    
EL Cajon California Pension Obligation  1.70  04/01/27  300,000  281,396
Total California       281,396
Maine | 0.1%    
Maine Health & Higher Educational Facilities  1.66  07/01/27  300,000  280,355
Maine State Housing Authority  1.70  11/15/26  245,000  231,103
Total Maine       511,458
                
11

Table of Contents
Portfolio of Investments  |  Short-Term Bond Fund  |  March 31, 2022  |  (Unaudited)  |  
(Continued)
Municipal Bonds | 1.3% of portfolio (Continued)
  Interest Rate /Yield Maturity Date Face Amount Value
New Jersey | 0.4%    
New Jersey Housing and Morgage Finance Agency  1.34%  04/01/24  $690,000  $665,440
New Jersey Housing and Morgage Finance Agency  1.49  04/01/25  590,000  558,540
New Jersey Housing and Morgage Finance Agency  1.54  10/01/25  1,020,000  958,468
Total New Jersey       2,182,448
New York | 0.1%    
Suffolk County New York  0.90  06/15/22  370,000  369,675
Suffolk County New York  1.05  06/15/23  350,000  344,897
Total New York       714,572
Texas | 0.2%    
Grey Forest Texas Gas System Revenue  1.05  02/01/25  800,000  759,264
Harris County Texas Cultural Education Facilities Finance Corp.  1.45  11/15/22  400,000  399,673
Total Texas       1,158,937
Total Municipal Bonds        
(Cost $7,322,504)       6,941,464
Mortgage-Backed Securities | 0.4% of portfolio
ARM Master Trust 21-T (c)  1.42  01/15/24  76,000  75,970
FHLMC 780754  2.25(b)  08/01/33  685  693
FNMA 813842  1.70(b)  01/01/35  1,854  1,911
GNMA 21-8  1.00  01/20/50  2,362,661  2,150,901
Salomon Brothers Mortgage Securities 97-LB6  6.82  12/25/27  1  1
Total Mortgage-Backed Securities        
(Cost $2,443,052)       2,229,476
Money Market Fund | 5.5% of portfolio
      Shares  
State Street Institutional U.S. Government Money Market Fund Premier Class  0.25(d)    29,435,365  29,435,365
Total Money Market Fund        
(Cost $29,435,365)       29,435,365
Total Investments in Securities        
(Cost $548,755,926) | 100.0%       $534,242,793
(a) Interest is paid at maturity.
(b) Variable coupon rate as of March 31, 2022.
(c) Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be resold in transactions exempt from registration, normally to qualified institutional buyers. The securities have been determined to be liquid under criteria established by the Fund's Board of Directors. The total of such securities at period-end amounts to $163,983,034 and represents 30.7% of total investments.
(d) 7-day yield at March 31, 2022.
LLC - Limited Liability Company
N.A. - North America
LP - Limited Partnership
SA - Sociedad Anonima or Societe Anonyme
NV - Naamloze Vennottschap
SARL - Societe a responsabilite limitee
12
                

Table of Contents
Portfolio of Investments  |  Short-Term Bond Fund  |  March 31, 2022  |  (Unaudited)  |  
(Continued)
PLC - Public Limited Company
DAC - Designated Activity Company
ARM - Adjustable Rate Mortgage
FHLMC - Federal Home Loan Mortgage Corporation
At March 31, 2022, the cost of investment securities for tax purposes was $548,818,207. Net unrealized depreciation of investment securities was $14,575,414 consisting of unrealized gains of $391,823 and unrealized losses of $14,967,237.
Accounting principles generally accepted in the United States (GAAP) establish a disclosure hierarchy that categorized the inputs used to value assets and liabilities at measurement date. These inputs are summarized into three broad levels as follows:
Level 1 - quoted prices in active markets for identical investments;
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.); and
Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair valuation of investments).
The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers in or out of an investment’s assigned level within the hierarchy during the period. For more information regarding the Fund’s valuation policies please refer to the Fund’s most recent financial report.
Short-Term Bond Fund Level 1 Level 2 Level 3 Total
U.S. Government & Agency Obligations

$$192,727,637 $$192,727,637
Corporate Bonds–Other

161,900,019 161,900,019
Asset-Backed Securities

66,211,251 66,211,251
Yankee Bonds

61,133,657 61,133,657
Corporate Bonds Guaranteed by Export-Import Bank of the United States

13,663,924 13,663,924
Municipal Bonds

6,941,464 6,941,464
Mortgage-Backed Securities

2,229,476 2,229,476
Money Market Fund

29,435,365 29,435,365
Total $29,435,365 $504,807,428 $ — $534,242,793
                
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Table of Contents
Portfolio of Investments
Intermediate Bond Fund  |  March 31, 2022  |  (Unaudited)

Corporate Bonds–Other | 33.3% of portfolio
  Interest Rate /
Yield
Maturity Date Face Amount Value
Communication Services | 2.4%    
AT&T Inc.  2.25%  02/01/32  $145,000  $128,574
AT&T Inc.  3.65  06/01/51  395,000  359,432
AT&T Inc.  3.65  09/15/59  140,000  122,771
DISH DBS Corp. (a)  5.25  12/01/26  120,000  114,300
Magallanes, Inc. (a)  3.64  03/15/25  205,000  206,246
Magallanes, Inc. (a)  4.05  03/15/29  190,000  190,942
Magallanes, Inc. (a)  4.28  03/15/32  190,000  190,845
Magallanes, Inc. (a)  5.05  03/15/42  285,000  290,709
Magallanes, Inc. (a)  5.14  03/15/52  180,000  184,157
Magallanes, Inc. (a)  5.39  03/15/62  190,000  196,285
Sprint Spectrum Co. LLC (a)  4.74  03/20/25  337,500  344,586
T-Mobile US, Inc.  3.00  02/15/41  200,000  169,064
Verizon Communications Inc.  0.85  11/20/25  150,000  138,776
Verizon Communications Inc.  2.10  03/22/28  200,000  186,415
Verizon Communications Inc.  2.55  03/21/31  130,000  120,776
Verizon Communications Inc.  2.65  11/20/40  100,000  85,066
Verizon Communications Inc.  3.40  03/22/41  195,000  182,796
Verizon Communications Inc.  3.55  03/22/51  185,000  173,844
Total Communication Services       3,385,584
Consumer Discretionary | 4.2%    
Amazon.com, Inc.  2.88  05/12/41  615,000  567,593
Amazon.com, Inc.  2.70  06/03/60  160,000  132,138
American Airlines Group, Inc. (a)  5.50  04/20/26  530,000  533,975
American Airlines Group, Inc. (a)  5.75  04/20/29  750,000  747,187
American Airlines Pass Through Trust 2017-1  3.65  02/15/29  124,988  121,057
Block Financial Corp.  2.50  07/15/28  145,000  132,285
Daimler Finance N.A. LLC (a)  3.30  05/19/25  175,000  174,639
Daimler Trucks Financial N.A. LLC (a)  3.50  04/07/25  340,000  339,626
Expedia Group, Inc.  4.63  08/01/27  330,000  342,786
Ford Motor Co.  3.37  11/17/23  200,000  199,702
Ford Motor Co.  3.38  11/13/25  200,000  195,489
General Motors Financial Co., Inc.  4.35  01/17/27  150,000  152,537
Harley-Davidson Financial Services, Inc. (a)  3.35  06/08/25  365,000  358,800
Kohl's Corp.  5.55  07/17/45  530,000  528,992
Lowe's Companies, Inc.  1.70  09/15/28  191,000  172,861
Lowe's Companies, Inc.  1.70  10/15/30  180,000  157,124
Lowe's Companies, Inc.  2.80  09/15/41  260,000  222,690
Lowe's Companies, Inc.  3.00  10/15/50  170,000  144,628
Mileage Plus Holdings, LLC (a)  6.50  06/20/27  225,000  234,562
Tractor Supply Co.  1.75  11/01/30  100,000  85,897
US Airways 2013 1A PTT  3.95  05/15/27  333,795  318,807
Total Consumer Discretionary       5,863,375
Consumer Staples | 1.3%    
7-Eleven Inc. (a)  1.30  02/10/28  60,000  52,526
7-Eleven Inc. (a)  1.80  02/10/31  60,000  51,677
7-Eleven Inc. (a)  2.80  02/10/51  135,000  108,693
Anheuser-Busch InBev SA/NV  4.90  02/01/46  301,000  334,756
Campbell Soup Co.  2.38  04/24/30  250,000  227,974
JBS USA Finance, Inc. (a)  3.00  02/02/29  335,000  309,875
JBS USA Finance, Inc. (a)  4.38  02/02/52  530,000  461,038
Smithfield Foods, Inc. (a)  2.63  09/13/31  340,000  298,539
Total Consumer Staples       1,845,078
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Table of Contents
Portfolio of Investments  |  Intermediate Bond Fund  |  March 31, 2022  |  (Unaudited)  |  
(Continued)
Corporate Bonds–Other | 33.3% of portfolio (Continued)
  Interest Rate /
Yield
Maturity Date Face Amount Value
Energy | 2.8%    
BP Capital Markets America Inc.  2.77%  11/10/50  $210,000  $175,318
Cheniere Corpus Christi Holdings LLC  5.13  06/30/27  180,000  191,867
Cheniere Corpus Christi Holdings LLC  3.70  11/15/29  39,000  38,878
Cheniere Corpus Christi Holdings LLC (a)  2.74  12/31/39  170,000  147,919
Energy Transfer Operating LP  4.50  04/15/24  150,000  153,475
Energy Transfer Operating LP  3.75  05/15/30  318,000  312,835
Energy Transfer Operating LP  6.00  06/15/48  420,000  465,569
Energy Transfer Operating LP  6.50(b)  12/31/99  145,000  142,506
EQM Midstream Partners, LP  4.75  07/15/23  188,000  189,410
EQM Midstream Partners, LP  5.50  07/15/28  68,000  68,266
Gray Oak Pipeline, LLC (a)  2.00  09/15/23  150,000  147,775
HollyFrontier Corp.  2.63  10/01/23  60,000  59,387
Marathon Oil Corp.  4.40  07/15/27  360,000  371,122
Midwest Connector Capital Co. LLC (a)  3.90  04/01/24  85,000  85,266
Midwest Connector Capital Co. LLC (a)  4.63  04/01/29  205,000  207,164
MPLX LP  1.75  03/01/26  80,000  74,962
MPLX LP  2.65  08/15/30  245,000  224,499
National Oilwell Varco, Inc.  3.60  12/01/29  112,000  110,103
Phillips 66  2.15  12/15/30  260,000  230,937
Pioneer Natural Resources Co.  1.90  08/15/30  255,000  226,048
Valero Energy Corp.  2.80  12/01/31  340,000  313,803
Total Energy       3,937,109
Financials | 13.0%    
Athene Global Funding (a)  2.50  01/14/25  1,144,000  1,110,307
Athene Global Funding (a)  2.95  11/12/26  120,000  116,178
Athene Holding Ltd.  3.95  05/25/51  300,000  273,725
Bank of America Corp.  3.95  04/21/25  844,000  860,030
Bank of America Corp.  1.20(b)  10/24/26  200,000  184,837
Bank of America Corp.  2.50(b)  02/13/31  263,000  241,742
Bank of America Corp.  1.92(b)  10/24/31  700,000  608,074
Bank of America Corp.  2.57(b)  10/20/32  245,000  222,622
Bank of America Corp.  2.68(b)  06/19/41  275,000  232,198
Bank of America Corp.  2.83(b)  10/24/51  300,000  255,123
BOC Aviation (USA) Corp. (a)  1.63  04/29/24  220,000  211,321
CIT Group Inc.  3.93(b)  06/19/24  402,000  406,062
Citigroup Inc.  2.98(b)  11/05/30