Rydex Variable Trust NPORT-P Consumer Products Fund (Sep 2024 report)

Banking Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 98.5%
Banks - 91.7%
Citigroup, Inc.		1,760	$	110,176
Wells Fargo & Co.		1,885		106,484
JPMorgan Chase & Co.		491		103,532
Bank of America Corp.		2,590		102,771
PNC Financial Services Group, Inc.		473		87,434
U.S. Bancorp		1,872		85,607
Truist Financial Corp.		1,787		76,430
Bank of New York Mellon Corp.		1,027		73,800
NU Holdings Limited/Cayman Islands — Class A*		4,243		57,917
M&T Bank Corp.		316		56,286
Fifth Third Bancorp		1,283		54,964
State Street Corp.		584		51,666
Regions Financial Corp.		2,034		47,453
Huntington Bancshares, Inc.		3,170		46,599
Citizens Financial Group, Inc.		1,036		42,549
Northern Trust Corp.		472		42,494
KeyCorp		2,378		39,831
Toronto-Dominion Bank		587		37,134
ICICI Bank Ltd. ADR		1,233		36,805
HDFC Bank Ltd. ADR		582		36,410
East West Bancorp, Inc.		419		34,668
Bank of Nova Scotia1		589		32,095
Western Alliance Bancorporation		362		31,309
Webster Financial Corp.		625		29,131
Comerica, Inc.		484		28,996
Royal Bank of Canada		232		28,937
First Horizon Corp.		1,837		28,529
SouthState Corp.		285		27,696
First Citizens BancShares, Inc. — Class A		15		27,614
Popular, Inc.		272		27,273
Zions Bancorp North America		566		26,727
Cullen/Frost Bankers, Inc.		236		26,399
Commerce Bancshares, Inc.		440		26,136
Prosperity Bancshares, Inc.		358		25,801
Pinnacle Financial Partners, Inc.		261		25,570
Bank of Montreal		281		25,346
Synovus Financial Corp.		556		24,725
Old National Bancorp		1,312		24,482
Columbia Banking System, Inc.		936		24,439
Canadian Imperial Bank of Commerce		398		24,413
Cadence Bank		762		24,270
Barclays plc ADR		1,986		24,130
UBS Group AG		780		24,110
HSBC Holdings plc ADR1		524		23,680
FNB Corp.		1,607		22,675
Home BancShares, Inc.		835		22,620
Wintrust Financial Corp.		208		22,574
United Bankshares, Inc.		601		22,297
Bank OZK		517		22,226
First Financial Bankshares, Inc.		579		21,429
Hancock Whitney Corp.		418		21,389
UMB Financial Corp.		200		21,022
Valley National Bancorp		2,292		20,765
Ameris Bancorp		331		20,651
United Community Banks, Inc.		646		18,786
Texas Capital Bancshares, Inc.*		258		18,437
Fulton Financial Corp.		1,010		18,311
Associated Banc-Corp.		846		18,223
Eastern Bankshares, Inc.		1,107		18,144
Cathay General Bancorp		408		17,524
First Hawaiian, Inc.		748		17,316
First Interstate BancSystem, Inc. — Class A		544		16,690
Simmons First National Corp. — Class A		770		16,586
Bancorp, Inc.*		308		16,478
CVB Financial Corp.		879		15,664
Bank of Hawaii Corp.		249		15,630
Banco Bradesco S.A. ADR		5,719		15,213
Seacoast Banking Corporation of Florida		561		14,951
International Bancshares Corp.		234		13,991
BOK Financial Corp.		112		11,717
Independent Bank Corp.		196		11,589
Total Banks				2,435,716
Savings & Loans - 3.9%
New York Community Bancorp, Inc.		1,736		19,495
Axos Financial, Inc.*		295		18,550
WSFS Financial Corp.		340		17,337
WaFd, Inc.		480		16,728
Pacific Premier Bancorp, Inc.		633		15,926
Banc of California, Inc.		987		14,538
Total Savings & Loans				102,574
Diversified Financial Services - 2.9%
Capital One Financial Corp.		515		77,111
Total Common Stocks
(Cost $1,296,197)				2,615,401

PREFERRED STOCKS† - 1.0%
Financial - 1.0%
Itau Unibanco Holding S.A.
ADR	4,077	27,111
Total Preferred Stocks
(Cost $19,822)		27,111

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.4%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	6,115	6,115
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		5,051	5,051
Total Repurchase Agreements
(Cost $11,166)			11,166

Banking Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
SECURITIES LENDING COLLATERAL†,3 - 1.5%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4		39,046	$	39,046
Total Securities Lending Collateral
(Cost $39,046)				39,046
Total Investments - 101.4%
(Cost $1,366,231)			$	2,692,724
Other Assets & Liabilities, net - (1.4)%				(36,490	)
Total Net Assets - 100.0%			$	2,656,234

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	2,615,401	$	—	$	—	$	2,615,401
Preferred Stocks		27,111		—		—		27,111
Repurchase Agreements		—		11,166		—		11,166
Securities Lending Collateral		39,046		—		—		39,046
Total Assets	$	2,681,558	$	11,166	$	—	$	2,692,724

Basic Materials Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.4%
Chemicals - 36.1%
Linde plc		605	$	288,500
Sherwin-Williams Co.		473		180,530
Air Products and Chemicals, Inc.		540		160,780
Ecolab, Inc.		600		153,198
Dow, Inc.		2,246		122,699
DuPont de Nemours, Inc.		1,277		113,793
PPG Industries, Inc.		821		108,750
International Flavors & Fragrances, Inc.		940		98,634
LyondellBasell Industries N.V. — Class A		995		95,421
Celanese Corp. — Class A		571		77,633
CF Industries Holdings, Inc.		897		76,963
RPM International, Inc.		616		74,536
Nutrien Ltd.		1,531		73,580
Eastman Chemical Co.		648		72,544
Albemarle Corp.		692		65,539
Mosaic Co.		2,099		56,211
FMC Corp.		850		56,049
Axalta Coating Systems Ltd.*		1,499		54,249
Element Solutions, Inc.		1,771		48,100
Cabot Corp.		430		48,061
Olin Corp.		993		47,644
Westlake Corp.		303		45,538
Huntsman Corp.		1,634		39,543
Ashland, Inc.		451		39,223
Chemours Co.		1,745		35,458
Balchem Corp.		197		34,672
Arcadium Lithium plc*		9,613		27,397
Innospec, Inc.		231		26,124
Total Chemicals				2,321,369
Mining - 23.1%
Freeport-McMoRan, Inc.		3,441		171,775
Newmont Corp.		2,737		146,293
Barrick Gold Corp.		4,740		94,279
Rio Tinto plc ADR		1,197		85,190
BHP Group Ltd. ADR1		1,333		82,793
Agnico Eagle Mines Ltd.		932		75,082
Gold Fields Ltd. ADR		4,427		67,954
Wheaton Precious Metals Corp.		1,102		67,310
Pan American Silver Corp.		3,220		67,201
Southern Copper Corp.		554		64,081
Alcoa Corp.		1,653		63,773
Kinross Gold Corp.		6,797		63,620
Franco-Nevada Corp.		504		62,622
Alamos Gold, Inc. — Class A		2,989		59,601
Anglogold Ashanti plc1		2,178		58,000
Royal Gold, Inc.		399		55,980
B2Gold Corp.		17,099		52,665
Hecla Mining Co.		5,639		37,612
MP Materials Corp.*,1		1,783		31,470
Coeur Mining, Inc.*		4,113		28,297
SSR Mining, Inc.*		3,430		19,482
Century Aluminum Co.*		1,146		18,599
Kaiser Aluminum Corp.		140		10,153
Total Mining				1,483,832
Packaging & Containers - 11.4%
Smurfit WestRock plc		1,901		93,947
Ball Corp.		1,282		87,061
Packaging Corporation of America		392		84,437
Amcor plc		6,310		71,492
Crown Holdings, Inc.		687		65,870
AptarGroup, Inc.		393		62,955
Graphic Packaging Holding Co.		1,897		56,132
Berry Global Group, Inc.		771		52,413
Sealed Air Corp.		1,237		44,903
Sonoco Products Co.		800		43,704
Silgan Holdings, Inc.		761		39,952
O-I Glass, Inc.*		2,099		27,539
Total Packaging & Containers				730,405
Iron & Steel - 11.1%
Nucor Corp.		771		115,912
Vale S.A. ADR		8,914		104,116
Steel Dynamics, Inc.		681		85,860
Reliance, Inc.		266		76,930
ArcelorMittal S.A.		2,732		71,742
Carpenter Technology Corp.		348		55,534
ATI, Inc.*		819		54,799
United States Steel Corp.		1,414		49,957
Commercial Metals Co.		900		49,464
Cleveland-Cliffs, Inc.*		3,767		48,105
Total Iron & Steel				712,419
Building Materials - 9.7%
CRH plc*		1,666		154,505
Vulcan Materials Co.		439		109,939
Martin Marietta Materials, Inc.		204		109,803
Cemex SAB de CV ADR		10,694		65,233
Eagle Materials, Inc.		206		59,256
Louisiana-Pacific Corp.		489		52,548
Summit Materials, Inc. — Class A*		1,062		41,450
Aspen Aerogels, Inc.*		1,030		28,520
Total Building Materials				621,254
Coal - 2.7%
Teck Resources Ltd. — Class B		1,712		89,435
Warrior Met Coal, Inc.		556		35,528
Arch Resources, Inc.		216		29,843
Alpha Metallurgical Resources, Inc.*		88		20,784
Total Coal				175,590
Biotechnology - 1.9%
Corteva, Inc.		2,083		122,460
Household Products & Housewares - 1.2%
Avery Dennison Corp.		361		79,694
Forest Products & Paper - 1.2%
International Paper Co.		1,608		78,551
Housewares - 0.7%
Scotts Miracle-Gro Co. — Class A		478		41,442
Environmental Control - 0.3%
PureCycle Technologies, Inc.*,1		2,414		22,933
Total Common Stocks
(Cost $2,720,100)				6,389,949

Basic Materials Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Face Amount		Value
REPURCHASE AGREEMENTS††,2 - 0.9%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	33,092	$	33,092
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		27,332		27,332
Total Repurchase Agreements
(Cost $60,424)				60,424

	Shares
SECURITIES LENDING COLLATERAL†,3 - 2.1%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4	134,512		134,512
Total Securities Lending Collateral
(Cost $134,512)			134,512
Total Investments - 102.4%
(Cost $2,915,036)		$	6,584,885
Other Assets & Liabilities, net - (2.4)%			(154,962	)
Total Net Assets - 100.0%		$	6,429,923

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section. 

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	6,389,949	$	—	$	—	$	6,389,949
Repurchase Agreements		—		60,424		—		60,424
Securities Lending Collateral		134,512		—		—		134,512
Total Assets	$	6,524,461	$	60,424	$	—	$	6,584,885

Biotechnology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.9%
Biotechnology - 75.0%
Amgen, Inc.		2,066	$	665,686
Gilead Sciences, Inc.		6,173		517,544
Vertex Pharmaceuticals, Inc.*		954		443,686
Regeneron Pharmaceuticals, Inc.*		393		413,137
Corteva, Inc.		5,628		330,870
Alnylam Pharmaceuticals, Inc.*		1,107		304,458
Biogen, Inc.*		1,396		270,601
Moderna, Inc.*		4,023		268,857
Illumina, Inc.*		1,844		240,476
United Therapeutics Corp.*		577		206,768
Royalty Pharma plc — Class A		6,889		194,890
Insmed, Inc.*		2,411		176,003
Sarepta Therapeutics, Inc.*		1,371		171,224
Incyte Corp.*		2,583		170,736
BioMarin Pharmaceutical, Inc.*		2,417		169,891
Legend Biotech Corp. ADR*		3,081		150,137
BioNTech SE ADR*		1,196		142,049
Argenx SE ADR*		261		141,483
REVOLUTION Medicines, Inc.*		3,070		139,225
Exelixis, Inc.*		5,265		136,627
Intra-Cellular Therapies, Inc.*		1,846		135,072
CRISPR Therapeutics AG*,1		2,874		135,021
Halozyme Therapeutics, Inc.*		2,301		131,709
Viking Therapeutics, Inc.*		2,004		126,873
Cytokinetics, Inc.*		2,328		122,918
Blueprint Medicines Corp.*		1,313		121,452
Avidity Biosciences, Inc.*		2,639		121,209
Roivant Sciences Ltd.*		10,223		117,973
Ionis Pharmaceuticals, Inc.*		2,928		117,296
Ultragenyx Pharmaceutical, Inc.*		1,965		109,156
Crinetics Pharmaceuticals, Inc.*		1,997		102,047
Axsome Therapeutics, Inc.*		1,062		95,442
Bridgebio Pharma, Inc.*		3,643		92,751
Dyne Therapeutics, Inc.*		2,570		92,314
TG Therapeutics, Inc.*		3,917		91,619
Amicus Therapeutics, Inc.*		8,225		87,843
Iovance Biotherapeutics, Inc.*		8,775		82,397
PTC Therapeutics, Inc.*		2,179		80,841
Guardant Health, Inc.*		3,499		80,267
Nuvalent, Inc. — Class A*		780		79,794
Apellis Pharmaceuticals, Inc.*		2,708		78,099
Novavax, Inc.*,1		6,048		76,386
Arrowhead Pharmaceuticals, Inc.*		3,876		75,078
Intellia Therapeutics, Inc.*		3,557		73,096
ACADIA Pharmaceuticals, Inc.*		4,470		68,749
SpringWorks Therapeutics, Inc.*		2,143		68,662
Recursion Pharmaceuticals, Inc. — Class A*,1		10,309		67,936
Immunovant, Inc.*		2,372		67,626
Ardelyx, Inc.*		9,792		67,467
Dynavax Technologies Corp.*		5,633		62,752
Beam Therapeutics, Inc.*		2,354		57,673
Krystal Biotech, Inc.*		307		55,883
Akero Therapeutics, Inc.*		1,778		51,011
Sage Therapeutics, Inc.*		4,350		31,407
Total Biotechnology				8,280,167
Pharmaceuticals - 19.7%
AbbVie, Inc.		4,906		968,837
AstraZeneca plc ADR		3,800		296,058
Vaxcyte, Inc.*		1,629		186,146
Viatris, Inc.		15,923		184,866
Neurocrine Biosciences, Inc.*		1,460		168,221
Alkermes plc*		5,323		148,991
Jazz Pharmaceuticals plc*		1,205		134,249
Madrigal Pharmaceuticals, Inc.*		260		55,177
Ironwood Pharmaceuticals, Inc. — Class A*		8,903		36,680
Total Pharmaceuticals				2,179,225
Healthcare-Products - 4.2%
Natera, Inc.*		1,558		197,788
Exact Sciences Corp.*		2,644		180,109
Twist Bioscience Corp.*		1,842		83,222
Total Healthcare-Products				461,119
Healthcare-Services - 1.0%
Medpace Holdings, Inc.*		328		109,487
Total Common Stocks
(Cost $4,995,650)				11,029,998
	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.5%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	30,022		30,022
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		24,796		24,796
Total Repurchase Agreements
(Cost $54,818)				54,818
	Shares
SECURITIES LENDING COLLATERAL†,3 - 1.9%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4		214,683		214,683
Total Securities Lending Collateral
(Cost $214,683)				214,683
Total Investments - 102.3%
(Cost $5,265,151)			$	11,299,499
Other Assets & Liabilities, net - (2.3)%				(258,926	)
Total Net Assets - 100.0%			$	11,040,573

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.

Biotechnology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	11,029,998	$	—	$	—	$	11,029,998
Repurchase Agreements		—		54,818		—		54,818
Securities Lending Collateral		214,683		—		—		214,683
Total Assets	$	11,244,681	$	54,818	$	—	$	11,299,499

Commodities Strategy Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
MUTUAL FUNDS† - 50.1%
Guggenheim Ultra Short Duration Fund — Institutional Class1		143,351	$	1,436,381
Guggenheim Strategy Fund II1		57,080		1,415,574
Total Mutual Funds
(Cost $2,848,443)				2,851,955

	Face Amount
FEDERAL AGENCY NOTES†† - 15.8%
Freddie Mac
5.15% due 01/17/25	$	500,000	500,100
Fannie Mae
1.63% due 10/15/24		400,000	399,477
Total Federal Agency Notes
(Cost $899,522)			899,577
FEDERAL AGENCY DISCOUNT NOTES†† - 10.3%
Federal Home Loan Bank
4.70% due 10/23/242		550,000	548,420
Freddie Mac
5.02% due 10/07/242		40,000	39,967
Total Federal Agency Discount Notes
(Cost $588,387)			588,387
U.S. TREASURY BILLS†† - 3.5%
U.S. Treasury Bills
4.63% due 10/10/242,3		200,000	199,768
Total U.S. Treasury Bills
(Cost $199,744)			199,768

REPURCHASE AGREEMENTS††,4 - 16.1%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	502,355		502,355
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24	414,921		414,921
Total Repurchase Agreements
(Cost $917,276)			917,276
Total Investments - 95.8%
(Cost $5,453,372)		$	5,456,963
Other Assets & Liabilities, net - 4.2%			241,326
Total Net Assets - 100.0%		$	5,698,289

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Commodity Futures Contracts Purchased†
Goldman Sachs Commodity Index Futures Contracts		43	Oct 2024	$	5,728,138	$	229,700

^** Includes cumulative appreciation (depreciation).

^† Value determined based on Level 1 inputs — See Note 3.

^†† Value determined based on Level 2 inputs — See Note 3.

¹ Affiliated issuer.

² Rate indicated is the effective yield at the time of purchase.

³ All or a portion of this security is pledged as futures collateral at September 30, 2024.

4	Repurchase Agreements — See Note 4.
	See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	2,851,955	$	—	$	—	$	2,851,955
Federal Agency Notes		—		899,577		—		899,577
Federal Agency Discount Notes		—		588,387		—		588,387
U.S. Treasury Bills		—		199,768		—		199,768
Repurchase Agreements		—		917,276		—		917,276
Commodity Futures Contracts**		229,700		—		—		229,700
Total Assets	$	3,081,655	$	2,605,008	$	—	$	5,686,663

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

Commodities Strategy Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows:

Security Name	Value 12/31/23		Additions		Reductions			Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	1,497,280	$	–	$	(100,000	)	$	(766	)	$	19,060	$	1,415,574		57,080	$	63,796
Guggenheim Ultra Short Duration Fund — Institutional Class		1,510,315		–		(100,000	)		574			25,492		1,436,381		143,351		58,942
	$	3,007,595	$	–	$	(200,000	)	$	(192	)	$	44,552	$	2,851,955			$	122,738

Consumer Products Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.6%
Food - 34.0%
Mondelez International, Inc. — Class A		3,312	$	243,995
General Mills, Inc.		2,156		159,221
Sysco Corp.		1,965		153,388
Kroger Co.		2,616		149,897
Hershey Co.		781		149,780
Kraft Heinz Co.		3,647		128,046
McCormick & Company, Inc.		1,400		115,220
Kellanova		1,422		114,770
Tyson Foods, Inc. — Class A		1,842		109,710
Conagra Brands, Inc.		3,001		97,593
US Foods Holding Corp.*		1,559		95,879
J M Smucker Co.		724		87,676
Performance Food Group Co.*		1,109		86,912
Sprouts Farmers Market, Inc.*		762		84,132
Campbell Soup Co.		1,556		76,120
Lamb Weston Holdings, Inc.		1,164		75,357
Hormel Foods Corp.		2,355		74,653
Ingredion, Inc.		537		73,800
Albertsons Companies, Inc. — Class A		3,217		59,450
Post Holdings, Inc.*		495		57,296
Flowers Foods, Inc.		2,267		52,300
Cal-Maine Foods, Inc.		609		45,578
Simply Good Foods Co.*		1,286		44,714
Lancaster Colony Corp.		232		40,964
Pilgrim's Pride Corp.*		774		35,643
Grocery Outlet Holding Corp.*		1,804		31,660
Total Food				2,443,754
Beverages - 25.4%
Coca-Cola Co.		5,462		392,499
PepsiCo, Inc.		2,178		370,369
Constellation Brands, Inc. — Class A		620		159,768
Keurig Dr Pepper, Inc.		4,161		155,954
Monster Beverage Corp.*		2,948		153,797
Coca-Cola Europacific Partners plc		1,534		120,803
Brown-Forman Corp. — Class B		2,423		119,212
Anheuser-Busch InBev S.A. ADR		1,462		96,916
Fomento Economico Mexicano SAB de CV ADR		885		87,358
Molson Coors Beverage Co. — Class B		1,442		82,944
Celsius Holdings, Inc.*		1,764		55,319
Coca-Cola Consolidated, Inc.		26		34,226
Total Beverages				1,829,165
Cosmetics & Personal Care - 16.7%
Procter & Gamble Co.		2,871		497,257
Colgate-Palmolive Co.		2,161		224,334
Kenvue, Inc.		7,137		165,079
Estee Lauder Companies, Inc. — Class A		1,552		154,719
Unilever plc ADR		1,549		100,623
elf Beauty, Inc.*		539		58,767
Total Cosmetics & Personal Care				1,200,779
Agriculture - 13.0%
Philip Morris International, Inc.		2,771		336,399
Altria Group, Inc.		4,439		226,567
Archer-Daniels-Midland Co.		2,188		130,711
British American Tobacco plc ADR		2,490		91,084
Bunge Global S.A.		939		90,745
Darling Ingredients, Inc.*		1,669		62,020
Total Agriculture				937,526
Household Products & Housewares - 6.5%
Kimberly-Clark Corp.		1,200		170,736
Church & Dwight Company, Inc.		1,205		126,188
Clorox Co.		679		110,616
Spectrum Brands Holdings, Inc.		427		40,625
WD-40 Co.		87		22,435
Total Household Products & Housewares				470,600
Retail - 2.1%
Casey's General Stores, Inc.		241		90,546
Freshpet, Inc.*		449		61,410
Total Retail				151,956
Pharmaceuticals - 1.0%
BellRing Brands, Inc.*		1,153		70,010
Internet - 0.9%
Maplebear, Inc.*		1,576		64,206
Total Common Stocks
(Cost $3,280,892)				7,167,996

		Face Amount
REPURCHASE AGREEMENTS††,1 - 0.7%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	26,905		26,905
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		22,222		22,222
Total Repurchase Agreements
(Cost $49,127)				49,127
Total Investments - 100.3%
(Cost $3,330,019)			$	7,217,123
Other Assets & Liabilities, net - (0.3)%				(18,714	)
Total Net Assets - 100.0%			$	7,198,409

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Repurchase Agreements — See Note 4.

ADR — American Depositary Receipt

Consumer Products Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	7,167,996	$	—	$	—	$	7,167,996
Repurchase Agreements		—		49,127		—		49,127
Total Assets	$	7,167,996	$	49,127	$	—	$	7,217,123

Dow 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 79.6%
Financial - 18.4%
Goldman Sachs Group, Inc.	862	$	426,785
Visa, Inc. — Class A	862		237,007
American Express Co.	862		233,774
Travelers Companies, Inc.	862		201,812
JPMorgan Chase & Co.	862		181,761
Total Financial			1,281,139
Consumer, Non-cyclical - 17.6%
UnitedHealth Group, Inc.	862		503,994
Amgen, Inc.	862		277,745
Procter & Gamble Co.	862		149,299
Johnson & Johnson	862		139,696
Merck & Company, Inc.	862		97,889
Coca-Cola Co.	862		61,943
Total Consumer, Non-cyclical			1,230,566
Technology - 14.6%
Microsoft Corp.	862		370,919
Salesforce, Inc.	862		235,938
Apple, Inc.	862		200,846
International Business Machines Corp.	862		190,571
Intel Corp.*	862		20,222
Total Technology			1,018,496
Industrial - 10.9%
Caterpillar, Inc.	862		337,145
Honeywell International, Inc.	862		178,184
Boeing Co.*	862		131,059
3M Co.	862		117,835
Total Industrial			764,223
Consumer, Cyclical - 10.9%
Home Depot, Inc.	862		349,282
McDonald's Corp.	862		262,488
NIKE, Inc. — Class B	862		76,201
Walmart, Inc.	862		69,606
Total Consumer, Cyclical			757,577
Communications - 4.7%
Amazon.com, Inc.*	862		160,616
Walt Disney Co.	862		82,916
Cisco Systems, Inc.	862		45,876
Verizon Communications, Inc.	862		38,712
Total Communications			328,120
Energy - 1.8%
Chevron Corp.	862		126,947
Basic Materials - 0.7%
Dow, Inc.	862		47,091
Total Common Stocks
(Cost $3,132,389)			5,554,159

		Face Amount
U.S. TREASURY BILLS†† - 12.5%
U.S. Treasury Bills
4.85% due 12/12/241,2	$	350,000		346,871
4.74% due 12/12/242		250,000		247,765
4.63% due 10/10/242,3		226,000		225,738
4.49% due 12/12/242		50,000		49,553
Total U.S. Treasury Bills
(Cost $869,495)				869,927
REPURCHASE AGREEMENTS††,4 - 6.1%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/241		231,052		231,052
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/241		190,838		190,838
Total Repurchase Agreements
(Cost $421,890)				421,890
Total Investments - 98.2%
(Cost $4,423,774)			$	6,845,976
Other Assets & Liabilities, net - 1.8%				126,755
Total Net Assets - 100.0%			$	6,972,731

Futures Contracts

Description	Number of Contracts	Expiration Date		Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
Dow Jones Industrial Average Index Mini Futures Contracts	4	Dec 2024	$	853,040	$	16,573

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements††
Barclays Bank plc	Dow Jones Industrial Average	Pay	5.44% (SOFR + 0.60%)	At Maturity	12/19/24	150	$	6,335,613	$	28,481

Dow 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements†† (continued)
BNP Paribas	Dow Jones Industrial Average	Pay	5.73% (Federal Funds Rate + 0.90%)	At Maturity	12/19/24	28	$	1,198,718	$	9,982
							$	7,534,331	$	38,463

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is pledged as equity index swap collateral at September 30, 2024.
2	Rate indicated is the effective yield at the time of purchase.
3	All or a portion of this security is pledged as futures collateral at September 30, 2024.
4	Repurchase Agreements — See Note 4.

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	5,554,159	$	—	$	—	$	5,554,159
U.S. Treasury Bills		—		869,927		—		869,927
Repurchase Agreements		—		421,890		—		421,890
Equity Futures Contracts**		16,573		—		—		16,573
Equity Index Swap Agreements**		—		38,463		—		38,463
Total Assets	$	5,570,732	$	1,330,280	$	—	$	6,901,012

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

Electronics Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.5%
Semiconductors - 92.8%
NVIDIA Corp.		42,112	$	5,114,081
Broadcom, Inc.		15,583		2,688,067
Advanced Micro Devices, Inc.*		9,860		1,617,829
Texas Instruments, Inc.		6,500		1,342,705
QUALCOMM, Inc.		7,876		1,339,314
Applied Materials, Inc.		6,454		1,304,031
Micron Technology, Inc.		10,946		1,135,210
Intel Corp.*		45,071		1,057,366
Analog Devices, Inc.		4,526		1,041,749
Lam Research Corp.		1,265		1,032,341
KLA Corp.		1,299		1,005,959
Marvell Technology, Inc.		10,199		735,552
Microchip Technology, Inc.		7,966		639,590
Monolithic Power Systems, Inc.		685		633,282
NXP Semiconductor N.V.		2,625		630,026
ASML Holding N.V. — Class G		694		578,275
Taiwan Semiconductor Manufacturing Company Ltd. ADR		3,258		565,817
ON Semiconductor Corp.*		7,571		549,730
ARM Holdings plc ADR*		3,258		465,927
Teradyne, Inc.		3,418		457,773
Entegris, Inc.		3,576		402,407
Kulicke & Soffa Industries, Inc.		8,712		393,173
STMicroelectronics N.V. — Class Y		13,032		387,441
Skyworks Solutions, Inc.		3,810		376,314
ASE Technology Holding Company Ltd. ADR		36,506		356,299
United Microelectronics Corp. ADR1		40,733		342,972
Onto Innovation, Inc.*		1,518		315,076
Qorvo, Inc.*		2,863		295,748
Lattice Semiconductor Corp.*		5,359		284,402
MKS Instruments, Inc.		2,372		257,860
MACOM Technology Solutions Holdings, Inc.*		2,268		252,338
Cirrus Logic, Inc.*		1,879		233,391
Impinj, Inc.*		1,058		229,078
Rambus, Inc.*		4,955		209,200
Power Integrations, Inc.		2,931		187,936
FormFactor, Inc.*		4,072		187,312
Semtech Corp.*		4,048		184,832
Amkor Technology, Inc.		5,964		182,498
Silicon Laboratories, Inc.*		1,567		181,098
Axcelis Technologies, Inc.*		1,700		178,245
GLOBALFOUNDRIES, Inc.*		4,402		177,181
Synaptics, Inc.*		2,261		175,408
Allegro MicroSystems, Inc.*		7,398		172,373
Diodes, Inc.*		2,595		166,314
Ambarella, Inc.*		2,607		147,048
Veeco Instruments, Inc.*		4,094		135,634
Wolfspeed, Inc.*		11,680		113,296
Aehr Test Systems*,1		4,470		57,439
Total Semiconductors				30,516,937
Energy-Alternate Sources - 5.2%
First Solar, Inc.*		1,962		489,401
SolarEdge Technologies, Inc.*		19,156		438,864
Canadian Solar, Inc.*,1		24,511		410,804
Enphase Energy, Inc.*		3,344		377,939
Total Energy-Alternate Sources				1,717,008
Electrical Components & Equipment - 0.9%
Universal Display Corp.		1,413		296,589
Telecommunications - 0.6%
Credo Technology Group Holding Ltd.*		6,507		200,415
Total Common Stocks
(Cost $16,013,544)				32,730,949

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.8%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	144,839	144,839
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		119,630	119,630
Total Repurchase Agreements
(Cost $264,469)			264,469

	Shares
SECURITIES LENDING COLLATERAL†,3 - 1.9%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4		623,150		623,150
Total Securities Lending Collateral
(Cost $623,150)				623,150
Total Investments - 102.2%
(Cost $16,901,163)			$	33,618,568
Other Assets & Liabilities, net - (2.2)%				(717,050	)
Total Net Assets - 100.0%			$	32,901,518

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

Electronics Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	32,730,949	$	—	$	—	$	32,730,949
Repurchase Agreements		—		264,469		—		264,469
Securities Lending Collateral		623,150		—		—		623,150
Total Assets	$	33,354,099	$	264,469	$	—	$	33,618,568

Energy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.4%
Oil & Gas - 64.7%
Exxon Mobil Corp.		6,520	$	764,274
Chevron Corp.		3,601		530,319
ConocoPhillips		3,433		361,426
EOG Resources, Inc.		2,250		276,593
Equities Corp.		7,273		266,483
Phillips 66		1,854		243,708
Marathon Petroleum Corp.		1,469		239,315
Diamondback Energy, Inc.		1,320		227,568
Valero Energy Corp.		1,565		211,322
Hess Corp.		1,514		205,601
Occidental Petroleum Corp.		3,662		188,739
Devon Energy Corp.		4,029		157,615
BP plc ADR		4,805		150,829
Petroleo Brasileiro S.A. ADR		10,292		148,308
Shell plc ADR		2,224		146,673
Coterra Energy, Inc. — Class A		5,770		138,192
Canadian Natural Resources Ltd.		3,989		132,475
Marathon Oil Corp.		4,746		126,386
Suncor Energy, Inc.		3,226		119,104
Cenovus Energy, Inc.		6,848		114,567
Chesapeake Energy Corp.1		1,353		111,284
Permian Resources Corp.		7,445		101,326
Ovintiv, Inc.		2,633		100,870
APA Corp.		4,015		98,207
Southwestern Energy Co.*		13,726		97,592
Antero Resources Corp.*		3,377		96,751
Viper Energy, Inc.		2,073		93,513
Range Resources Corp.		2,922		89,881
Chord Energy Corp.		689		89,728
Equinor ASA ADR1		3,524		89,263
HF Sinclair Corp.		1,954		87,090
Matador Resources Co.		1,556		76,898
CNX Resources Corp.*		2,350		76,540
Weatherford International plc		895		76,003
Noble Corporation plc1		2,064		74,593
Magnolia Oil & Gas Corp. — Class A		3,003		73,333
Civitas Resources, Inc.		1,406		71,242
Murphy Oil Corp.		2,097		70,753
SM Energy Co.		1,732		69,228
California Resources Corp.		1,303		68,368
Valaris Ltd.*		1,095		61,046
Northern Oil & Gas, Inc.		1,695		60,020
Transocean Ltd.*		13,513		57,430
PBF Energy, Inc. — Class A		1,744		53,977
Patterson-UTI Energy, Inc.		6,990		53,474
Helmerich & Payne, Inc.		1,719		52,292
Kosmos Energy Ltd.*		10,375		41,811
Delek US Holdings, Inc.		1,867		35,006
Comstock Resources, Inc.*		2,879		32,043
Vital Energy, Inc.*		1,088		29,267
Total Oil & Gas				6,938,326
Pipelines - 15.0%
Williams Companies, Inc.		5,330		243,314
ONEOK, Inc.		2,605		237,394
Kinder Morgan, Inc.		9,886		218,382
Cheniere Energy, Inc.		1,128		202,859
Targa Resources Corp.		1,236		182,940
Enbridge, Inc.		3,132		127,191
TC Energy Corp.		2,425		115,309
DT Midstream, Inc.		1,150		90,459
Golar LNG Ltd.		2,293		84,291
Pembina Pipeline Corp.		1,754		72,335
New Fortress Energy, Inc.1		3,034		27,579
Total Pipelines				1,602,053
Oil & Gas Services - 9.3%
Schlumberger N.V.		6,149		257,950
Baker Hughes Co.		5,551		200,669
Halliburton Co.		5,497		159,688
TechnipFMC plc		4,057		106,415
NOV, Inc.		5,012		80,042
ChampionX Corp.		2,629		79,264
Tidewater, Inc.*		823		59,083
Liberty Energy, Inc. — Class A		2,820		53,834
Total Oil & Gas Services				996,945
Energy-Alternate Sources - 5.1%
First Solar, Inc.*		673		167,873
SolarEdge Technologies, Inc.*		6,075		139,178
Enphase Energy, Inc.*		1,148		129,747
Sunrun, Inc.*		3,520		63,571
Green Plains, Inc.*		2,282		30,899
Plug Power, Inc.*,1		9,039		20,428
Total Energy-Alternate Sources				551,696
Mining - 1.7%
Cameco Corp.		2,698		128,857
Uranium Energy Corp.*		8,853		54,977
Total Mining				183,834
Transportation - 1.2%
Scorpio Tankers, Inc.		1,057		75,364
Frontline plc1		2,603		59,478
Total Transportation				134,842
Coal - 0.9%
Peabody Energy Corp.		2,398		63,643
CONSOL Energy, Inc.		359		37,570
Total Coal				101,213
Metal Fabricate & Hardware - 0.8%
Tenaris S.A. ADR		2,638		83,862
Retail - 0.7%
Murphy USA, Inc.		145		71,466
Total Common Stocks
(Cost $4,114,219)				10,664,237
	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.4%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	20,827		20,827
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		17,203		17,203
Total Repurchase Agreements
(Cost $38,030)				38,030

Energy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
SECURITIES LENDING COLLATERAL†,3 - 2.7%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4		290,178	$	290,178
Total Securities Lending Collateral
(Cost $290,178)				290,178
Total Investments - 102.5%
(Cost $4,442,427)			$	10,992,445
Other Assets & Liabilities, net - (2.5)%				(263,108	)
Total Net Assets - 100.0%			$	10,729,337

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	10,664,237	$	—	$	—	$	10,664,237
Repurchase Agreements		—		38,030		—		38,030
Securities Lending Collateral		290,178		—		—		290,178
Total Assets	$	10,954,415	$	38,030	$	—	$	10,992,445

Energy Services Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.5%
Oil & Gas Services - 68.5%
Schlumberger N.V.		12,542	$	526,137
Baker Hughes Co.		11,316		409,073
Halliburton Co.		11,213		325,738
TechnipFMC plc		6,436		168,816
NOV, Inc.		10,225		163,293
ChampionX Corp.		5,367		161,815
Archrock, Inc.		6,165		124,780
Tidewater, Inc.*		1,678		120,464
Liberty Energy, Inc. — Class A		5,754		109,844
Oceaneering International, Inc.*		4,242		105,499
Helix Energy Solutions Group, Inc.*		7,928		88,001
Expro Group Holdings N.V.*		4,982		85,541
Atlas Energy Solutions, Inc.		3,630		79,134
Select Water Solutions, Inc. — Class A		6,456		71,855
ProPetro Holding Corp.*		7,061		54,087
Core Laboratories, Inc.		2,867		53,125
RPC, Inc.		8,347		53,087
Kodiak Gas Services, Inc.		1,706		49,474
ProFrac Holding Corp. — Class A*,1		2,815		19,114
Total Oil & Gas Services				2,768,877
Oil & Gas - 24.1%
Weatherford International plc		1,828		155,234
Noble Corporation plc1		4,211		152,171
Valaris Ltd.*		2,233		124,490
Transocean Ltd.*		26,753		113,700
Patterson-UTI Energy, Inc.		14,266		109,135
Helmerich & Payne, Inc.		3,508		106,713
Seadrill Ltd.*		2,636		104,755
Borr Drilling Ltd.		15,751		86,473
Nabors Industries Ltd.*		328		21,146
Total Oil & Gas				973,817
Machinery-Diversified - 3.6%
Cactus, Inc. — Class A		2,449		146,132
Metal Fabricate & Hardware - 3.3%
Tenaris S.A. ADR		4,250		135,107
Total Common Stocks
(Cost $2,007,780)				4,023,933

		Face Amount
REPURCHASE AGREEMENTS††,2 - 1.0%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	22,787	22,787
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		18,821	18,821
Total Repurchase Agreements
(Cost $41,608)			41,608

	Shares
SECURITIES LENDING COLLATERAL†,3 - 0.6%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4	23,736		23,736
Total Securities Lending Collateral
(Cost $23,736)			23,736
Total Investments - 101.1%
(Cost $2,073,124)		$	4,089,277
Other Assets & Liabilities, net - (1.1)%			(46,044	)
Total Net Assets - 100.0%		$	4,043,233

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	4,023,933	$	—	$	—	$	4,023,933
Repurchase Agreements		—		41,608		—		41,608
Securities Lending Collateral		23,736		—		—		23,736
Total Assets	$	4,047,669	$	41,608	$	—	$	4,089,277

Europe 1.25x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 38.7%
Consumer, Non-cyclical - 14.2%
Novo Nordisk A/S ADR		398	$	47,390
Nestle S.A. ADR		325		32,718
AstraZeneca plc ADR		384		29,918
Novartis AG ADR		250		28,755
Roche Holding AG ADR		697		27,845
Unilever plc ADR		313		20,332
Sanofi S.A. ADR		286		16,482
L'Oreal S.A. ADR1		150		13,464
RELX plc ADR		237		11,248
GSK plc ADR		266		10,874
Diageo plc ADR		69		9,683
EssilorLuxottica S.A. ADR		77		9,130
British American Tobacco plc ADR		246		8,999
Anheuser-Busch InBev S.A. ADR		119		7,889
Total Consumer, Non-cyclical				274,727
Financial - 6.3%
HSBC Holdings plc ADR1		454		20,516
Allianz SE ADR		489		16,049
UBS Group AG		396		12,240
Zurich Insurance Group AG ADR1		362		10,921
Banco Santander S.A. ADR		1,927		9,828
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen ADR		167		9,202
BNP Paribas S.A. ADR1		266		9,132
UniCredit SpA ADR		409		8,969
AXA S.A. ADR		229		8,842
Intesa Sanpaolo SpA ADR		334		8,581
ING Groep N.V. ADR		413		7,500
Total Financial				121,780
Industrial - 4.1%
Siemens AG ADR		187		18,897
Schneider Electric SE ADR1		358		18,877
ABB Ltd. ADR		198		11,468
Safran S.A. ADR		189		11,129
Airbus SE ADR		293		10,703
Vinci S.A. ADR		295		8,635
Total Industrial				79,709
Technology - 3.7%
ASML Holding N.V. — Class G		50		41,662
SAP SE ADR		127		29,096
Total Technology				70,758
Energy - 2.9%
Shell plc ADR		390		25,721
TotalEnergies SE ADR		299		19,321
BP plc ADR		354		11,112
Total Energy				56,154
Consumer, Cyclical - 2.7%
LVMH Moet Hennessy Louis Vuitton SE ADR		159		24,424
Hermes International SCA ADR		44		10,865
Cie Financiere Richemont S.A. ADR		670		10,593
Mercedes-Benz Group AG ADR		351		5,655
Total Consumer, Cyclical				51,537
Basic Materials - 1.9%
Air Liquide S.A. ADR		359		13,875
Rio Tinto plc ADR		133		9,466
Glencore plc ADR		620		7,099
BASF SE ADR		447		5,896
Total Basic Materials				36,336
Utilities - 1.4%
Iberdrola S.A. ADR		180		11,158
National Grid plc ADR		126		8,779
Enel SpA ADR1		975		7,761
Total Utilities				27,698
Communications - 1.1%
Deutsche Telekom AG ADR		446		13,126
Prosus N.V. ADR		901		7,838
Total Communications				20,964
Common Stocks - 0.4%
London Stock Exchange Group plc ADR		251		8,722
Total Common Stocks
(Cost $486,782)				748,385
MUTUAL FUNDS† - 21.3%
Guggenheim Strategy Fund II2		9,255		229,528
Guggenheim Ultra Short Duration Fund — Institutional Class2		18,098		181,342
Total Mutual Funds
(Cost $407,812)				410,870

		Face Amount
U.S. TREASURY BILLS†† - 7.2%
U.S. Treasury Bills
4.63% due 10/10/243,4	$	139,000	138,838
Total U.S. Treasury Bills
(Cost $138,822)			138,838
REPURCHASE AGREEMENTS††,5 - 34.0%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24		359,301	359,301
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		296,766	296,766
Total Repurchase Agreements
(Cost $656,067)			656,067

	Shares
SECURITIES LENDING COLLATERAL†,6 - 3.1%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%7	60,273		60,273
Total Securities Lending Collateral
(Cost $60,273)			60,273
Total Investments - 104.3%
(Cost $1,749,756)		$	2,014,433
Other Assets & Liabilities, net - (4.3)%			(83,180	)
Total Net Assets - 100.0%		$	1,931,253

Europe 1.25x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
STOXX 50 Index Futures Contracts		34	Dec 2024	$	1,699,811	$	18,208
Currency Futures Contracts Purchased†
Euro FX Futures Contracts		12	Dec 2024		1,675,050		10,725

**	Includes cumulative appreciation (depreciation).
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Affiliated issuer.
3	All or a portion of this security is pledged as futures collateral at September 30, 2024.
4	Rate indicated is the effective yield at the time of purchase.
5	Repurchase Agreements — See Note 4.
6	Securities lending collateral — See Note 5.
7	Rate indicated is the 7-day yield as of September 30, 2024.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	748,385	$	—	$	—	$	748,385
Mutual Funds		410,870		—		—		410,870
U.S. Treasury Bills		—		138,838		—		138,838
Repurchase Agreements		—		656,067		—		656,067
Securities Lending Collateral		60,273		—		—		60,273
Equity Futures Contracts**		18,208		—		—		18,208
Currency Futures Contracts**		10,725		—		—		10,725
Total Assets	$	1,248,461	$	794,905	$	—	$	2,043,366

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

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Europe 1.25x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows:

Security Name	Value 12/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	226,751	$	–	$	–	$	–	$	2,777	$	229,528		9,255	$	9,719
Guggenheim Ultra Short Duration Fund — Institutional Class		178,266		–		–		–		3,076		181,342		18,098		6,997
	$	405,017	$	–	$	–	$	–	$	5,853	$	410,870			$	16,716

Financial Services Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.0%
Banks - 23.7%
JPMorgan Chase & Co.		1,495	$	315,236
Bank of America Corp.		5,343		212,010
Wells Fargo & Co.		3,207		181,163
Goldman Sachs Group, Inc.		335		165,862
Morgan Stanley		1,438		149,897
Citigroup, Inc.		2,279		142,665
PNC Financial Services Group, Inc.		603		111,465
U.S. Bancorp		2,387		109,158
Truist Financial Corp.		2,278		97,430
Bank of New York Mellon Corp.		1,310		94,137
NU Holdings Limited/Cayman Islands — Class A*		6,858		93,612
Toronto-Dominion Bank		1,330		84,136
ICICI Bank Ltd. ADR		2,773		82,774
HDFC Bank Ltd. ADR		1,316		82,329
Bank of Nova Scotia1		1,508		82,171
Royal Bank of Canada		621		77,457
M&T Bank Corp.		403		71,782
Fifth Third Bancorp		1,635		70,043
State Street Corp.		745		65,910
Regions Financial Corp.		2,593		60,495
Huntington Bancshares, Inc.		4,041		59,403
Citizens Financial Group, Inc.		1,322		54,295
Northern Trust Corp.		602		54,198
KeyCorp		3,032		50,786
East West Bancorp, Inc.		535		44,266
Western Alliance Bancorporation		462		39,958
Comerica, Inc.		617		36,964
First Horizon Corp.		2,341		36,356
Zions Bancorp North America		722		34,093
Columbia Banking System, Inc.		1,195		31,201
Old National Bancorp		1,672		31,200
Bank OZK		659		28,330
Valley National Bancorp		2,922		26,473
First Citizens BancShares, Inc. — Class A		14		25,773
Pinnacle Financial Partners, Inc.		246		24,101
Wintrust Financial Corp.		197		21,380
Total Banks				2,948,509
Diversified Financial Services - 21.6%
Visa, Inc. — Class A		1,077		296,121
Mastercard, Inc. — Class A		528		260,726
American Express Co.		572		155,126
BlackRock, Inc. — Class A		160		151,922
Charles Schwab Corp.		2,040		132,212
Intercontinental Exchange, Inc.		759		121,926
CME Group, Inc. — Class A		523		115,400
Interactive Brokers Group, Inc. — Class A		730		101,733
Capital One Financial Corp.		657		98,373
Apollo Global Management, Inc.		748		93,433
Ameriprise Financial, Inc.		192		90,204
Ares Management Corp. — Class A		564		87,894
Coinbase Global, Inc. — Class A*		489		87,125
XP, Inc. — Class A		4,856		87,117
Discover Financial Services		561		78,703
Nasdaq, Inc.		1,029		75,127
Blue Owl Capital, Inc.		3,648		70,625
Tradeweb Markets, Inc. — Class A		551		68,142
T. Rowe Price Group, Inc.		583		63,506
Raymond James Financial, Inc.		504		61,720
Synchrony Financial		1,172		58,459
Cboe Global Markets, Inc.		284		58,183
LPL Financial Holdings, Inc.		240		55,831
Ally Financial, Inc.		1,149		40,893
Invesco Ltd.		2,138		37,543
SEI Investments Co.		539		37,293
SoFi Technologies, Inc.*		4,652		36,565
Franklin Resources, Inc.		1,594		32,119
Upstart Holdings, Inc.*,1		583		23,326
Total Diversified Financial Services				2,677,347
REITS - 20.5%
Prologis, Inc.		1,087		137,266
American Tower Corp. — Class A		571		132,792
Equinix, Inc.		131		116,279
Welltower, Inc.		882		112,922
Public Storage		270		98,245
Realty Income Corp.		1,505		95,447
Digital Realty Trust, Inc.		587		94,994
Simon Property Group, Inc.		557		94,144
Crown Castle, Inc.		776		92,057
Extra Space Storage, Inc.		440		79,284
Iron Mountain, Inc.		638		75,814
VICI Properties, Inc.		2,245		74,781
AvalonBay Communities, Inc.		317		71,404
Weyerhaeuser Co.		1,946		65,892
Equity Residential		884		65,823
SBA Communications Corp.		271		65,230
Ventas, Inc.		1,016		65,156
Alexandria Real Estate Equities, Inc.		480		57,000
Invitation Homes, Inc.		1,613		56,874
Mid-America Apartment Communities, Inc.		341		54,185
Healthpeak Properties, Inc.		2,244		51,320
Essex Property Trust, Inc.		173		51,108
Sun Communities, Inc.		375		50,681
Kimco Realty Corp.		2,137		49,621
UDR, Inc.		1,071		48,559
Lamar Advertising Co. — Class A		360		48,096
Gaming and Leisure Properties, Inc.		906		46,614
Regency Centers Corp.		642		46,372
Camden Property Trust		373		46,077
Host Hotels & Resorts, Inc.		2,544		44,774
CubeSmart		822		44,248
BXP, Inc.		545		43,851
Equity LifeStyle Properties, Inc.		607		43,303
American Homes 4 Rent — Class A		1,125		43,189
Rexford Industrial Realty, Inc.		850		42,763
Omega Healthcare Investors, Inc.		1,016		41,351
Annaly Capital Management, Inc.		2,000		40,140
AGNC Investment Corp.1		3,520		36,819

Financial Services Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.0% (continued)
REITS - 20.5% (continued)
Sabra Health Care REIT, Inc.		1,429	$	26,594
Total REITS				2,551,069
Insurance - 18.4%
Berkshire Hathaway, Inc. — Class B*		871		400,886
Progressive Corp.		618		156,824
Marsh & McLennan Companies, Inc.		593		132,292
Arch Capital Group Ltd.*		1,023		114,453
Aon plc — Class A		313		108,295
Aflac, Inc.		919		102,744
Arthur J Gallagher & Co.		347		97,635
Willis Towers Watson plc		331		97,489
Chubb Ltd.		338		97,476
MetLife, Inc.		1,129		93,120
Travelers Companies, Inc.		396		92,712
Allstate Corp.		471		89,325
American International Group, Inc.		1,196		87,583
Prudential Financial, Inc.		711		86,102
Everest Group Ltd.		194		76,015
Hartford Financial Services Group, Inc.		642		75,506
Brown & Brown, Inc.		612		63,403
Principal Financial Group, Inc.		687		59,013
Cincinnati Financial Corp.		429		58,396
W R Berkley Corp.		894		50,717
Equitable Holdings, Inc.		1,141		47,956
Globe Life, Inc.		379		40,140
Corebridge Financial, Inc.		1,204		35,109
Erie Indemnity Co. — Class A		47		25,372
Total Insurance				2,288,563
Commercial Services - 7.4%
S&P Global, Inc.		318		164,285
PayPal Holdings, Inc.*		1,535		119,776
Moody's Corp.		230		109,156
Block, Inc. — Class A*		1,263		84,785
StoneCo Ltd. — Class A*		6,826		76,861
Global Payments, Inc.		621		63,603
Corpay, Inc.*		190		59,425
Toast, Inc. — Class A*		1,798		50,901
Affirm Holdings, Inc.*		1,048		42,779
Shift4 Payments, Inc. — Class A*		422		37,389
MarketAxess Holdings, Inc.		142		36,381
Euronet Worldwide, Inc.*		265		26,296
Morningstar, Inc.		76		24,253
Flywire Corp.*		1,057		17,324
Total Commercial Services				913,214
Private Equity - 3.5%
Blackstone, Inc. — Class A		1,159		177,478
KKR & Company, Inc. — Class A		949		123,920
Brookfield Corp.		1,617		85,944
Carlyle Group, Inc.		1,002		43,146
Total Private Equity				430,488
Software - 2.8%
Fiserv, Inc.*		732		131,504
MSCI, Inc. — Class A		150		87,440
Fidelity National Information Services, Inc.		1,026		85,927
Jack Henry & Associates, Inc.		260		45,900
Total Software				350,771
Internet - 0.5%
Robinhood Markets, Inc. — Class A*		2,466		57,754
Media - 0.4%
FactSet Research Systems, Inc.		120		55,182
Savings & Loans - 0.2%
New York Community Bancorp, Inc.		2,212		24,841
Total Common Stocks
(Cost $6,038,734)				12,297,738
PREFERRED STOCKS† - 0.6%
Financial - 0.6%
Itau Unibanco Holding S.A.
ADR		11,527		76,655
Total Preferred Stocks
(Cost $57,985)				76,655

		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.5%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	33,098	33,098
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		27,337	27,337
Total Repurchase Agreements
(Cost $60,435)			60,435

	Shares
SECURITIES LENDING COLLATERAL†,3 - 0.9%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4		109,678		109,678
Total Securities Lending Collateral
(Cost $109,678)				109,678
Total Investments - 101.0%
(Cost $6,266,832)			$	12,544,506
Other Assets & Liabilities, net - (1.0)%				(125,050	)
Total Net Assets - 100.0%			$	12,419,456

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.

Financial Services Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

ADR — American Depositary Receipt

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	12,297,738	$	—	$	—	$	12,297,738
Preferred Stocks		76,655		—		—		76,655
Repurchase Agreements		—		60,435		—		60,435
Securities Lending Collateral		109,678		—		—		109,678
Total Assets	$	12,484,071	$	60,435	$	—	$	12,544,506

Global Managed Futures Strategy Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
MUTUAL FUNDS† - 39.1%
Guggenheim Variable Insurance Strategy Fund III1		100,294	$	2,494,315
Guggenheim Strategy Fund III1		89,107		2,217,871
Guggenheim Strategy Fund II1		4,552		112,894
Guggenheim Ultra Short Duration Fund — Institutional Class1		7,274		72,882
Total Mutual Funds
(Cost $4,886,643)				4,897,962

	Face Amount
U.S. TREASURY BILLS†† - 15.2%
U.S. Treasury Bills
4.63% due 10/10/242,3	$	1,911,000	1,908,781
Total U.S. Treasury Bills
(Cost $1,908,551)			1,908,781

REPURCHASE AGREEMENTS††,4 - 46.1%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	3,163,636		3,163,636
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24	2,613,017		2,613,017
Total Repurchase Agreements
(Cost $5,776,653)			5,776,653
Total Investments - 100.4%
(Cost $12,571,847)		$	12,583,396
Other Assets & Liabilities, net - (0.4)%			(51,972	)
Total Net Assets - 100.0%		$	12,531,424

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation (Depreciation)**
Equity Futures Contracts Purchased†
S&P/TSX 60 IX Index Futures Contracts		9	Dec 2024	$	1,921,681	$	48,649
S&P 500 Index Mini Futures Contracts		6	Dec 2024		1,744,800		33,104
Tokyo Stock Price Index Futures Contracts		2	Dec 2024		369,739		3,939
Russell 2000 Index Mini Futures Contracts		3	Dec 2024		337,470		2,136
Euro STOXX 50 Index Futures Contracts		1	Dec 2024		56,142		1,454
SPI 200 Index Futures Contracts		2	Dec 2024		286,218		1,075
Dow Jones Industrial Average Index Mini Futures Contracts		2	Dec 2024		426,520		474
FTSE 100 Index Futures Contracts		6	Dec 2024		666,640		368
S&P MidCap 400 Index Mini Futures Contracts		1	Dec 2024		314,940		358
FTSE/JSE Top 40 Index Futures Contracts††		1	Dec 2024		46,373		275
				$	6,170,523	$	91,832
Commodity Futures Contracts Purchased†
Copper Futures Contracts		3	Dec 2024	$	341,138	$	34,272
Natural Gas Futures Contracts		10	Oct 2024		290,600		21,531
Sugar #11 Futures Contracts		7	Jun 2025		158,368		18,716
Cocoa Futures Contracts		2	Dec 2024		154,720		15,374
Hard Red Winter Wheat Futures Contracts		7	Dec 2024		204,400		1,110
Red Spring Wheat Futures Contracts		5	Dec 2024		154,812		1,055
Coffee 'C' Futures Contracts		1	May 2025		100,012		953
Gold 100 oz. Futures Contracts		5	Dec 2024		1,326,450		154
Low Sulphur Gas Oil Futures Contracts		3	Dec 2024		195,525		(605	)
Gasoline RBOB Futures Contracts		2	Nov 2024		160,020		(4,104	)
Silver Futures Contracts		2	Dec 2024		314,300		(7,914	)
				$	3,400,345	$	80,542
Currency Futures Contracts Purchased†
British Pound Futures Contracts		21	Dec 2024	$	1,754,812	$	21,733
Australian Dollar Futures Contracts		26	Dec 2024		1,799,330		18,287

Global Managed Futures Strategy Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation (Depreciation)**
Currency Futures Contracts Purchased† (continued)
New Zealand Dollar Futures Contracts		10	Dec 2024	$	635,450	$	9,704
Euro FX Futures Contracts		26	Dec 2024		3,629,275		7,191
Canadian Dollar Futures Contracts		50	Dec 2024		3,704,750		3,778
Mexican Peso Futures Contracts		13	Dec 2024		326,365		(4,509	)
				$	11,849,982	$	56,184
Interest Rate Futures Contracts Purchased†
Euro - Schatz Futures Contracts		56	Dec 2024	$	6,682,080	$	13,528
Euro - Bund Futures Contracts		14	Dec 2024		2,103,352		12,074
U.S. Treasury 2 Year Note Futures Contracts		61	Dec 2024		12,704,680		4,272
Euro - BTP Italian Government Bond Futures Contracts††		1	Dec 2024		135,182		2,801
Euro - Bobl Futures Contracts		5	Dec 2024		668,393		1,773
Euro - OATS Futures Contracts		2	Dec 2024		282,726		1,685
U.S. Treasury Ultra Long Bond Futures Contracts		6	Dec 2024		799,688		(289	)
Long Gilt Futures Contracts††		2	Dec 2024		263,206		(600	)
Australian Government 3 Year Bond Futures Contracts		40	Dec 2024		2,963,004		(4,796	)
U.S. Treasury 5 Year Note Futures Contracts		39	Dec 2024		4,288,172		(9,110	)
U.S. Treasury 10 Year Note Futures Contracts		31	Dec 2024		3,545,625		(12,361	)
				$	34,436,108	$	8,977
Interest Rate Futures Contracts Sold Short†
Canadian Government 10 Year Bond Futures Contracts		9	Dec 2024	$	829,493	$	1,916
U.S. Treasury Long Bond Futures Contracts		1	Dec 2024		124,375		648
Australian Government 10 Year Bond Futures Contracts		3	Dec 2024		241,290		80
				$	1,195,158	$	2,644
Currency Futures Contracts Sold Short†
Swiss Franc Futures Contracts		7	Dec 2024	$	1,042,650	$	692
Japanese Yen Futures Contracts		3	Dec 2024		263,550		(1,591	)
				$	1,306,200	$	(899	)
Equity Futures Contracts Sold Short†
FTSE Taiwan Index Futures Contracts		6	Oct 2024	$	444,180	$	(1,288	)
NASDAQ-100 Index Mini Futures Contracts		1	Dec 2024		405,415		(3,694	)
MSCI EAFE Index Futures Contracts		5	Dec 2024		622,450		(12,878	)
				$	1,472,045	$	(17,860	)
Commodity Futures Contracts Sold Short†
Soybean Oil Futures Contracts		14	Dec 2024	$	363,804	$	7,615
Lean Hogs Futures Contracts		13	Dec 2024		381,160		6,694
Gasoline RBOB Futures Contracts		2	Dec 2024		159,314		3,657
WTI Crude Futures Contracts		3	Oct 2024		204,690		2,052
Gasoline RBOB Futures Contracts		1	Oct 2024		81,186		1,451
Low Sulphur Gas Oil Futures Contracts		3	Jan 2025		195,600		745
Soybean Meal Futures Contracts		1	Dec 2024		34,120		397
Soybean Futures Contracts		12	Nov 2024		634,050		(506	)
Brent Crude Futures Contracts		1	Oct 2024		71,770		(692	)
Low Sulphur Gas Oil Futures Contracts		6	Nov 2024		393,300		(1,145	)
LME Lead Futures Contracts		1	Nov 2024		51,982		(1,186	)
Wheat Futures Contracts		9	Dec 2024		262,575		(1,229	)
Platinum Futures Contracts		3	Jan 2025		148,605		(1,752	)
Natural Gas Futures Contracts		1	Dec 2024		35,860		(2,323	)
Natural Gas Futures Contracts		3	Nov 2024		99,810		(4,778	)
NY Harbor ULSD Futures Contracts		5	Oct 2024		452,907		(5,515	)
Live Cattle Futures Contracts		4	Dec 2024		295,840		(6,118	)
ICE Endex Dutch TTF Natural Gas Futures Contracts		5	Nov 2024		161,991		(7,426	)
Cotton #2 Futures Contracts		6	May 2025		229,410		(11,413	)

Global Managed Futures Strategy Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation (Depreciation)**
Commodity Futures Contracts Sold Short† (continued)
Corn Futures Contracts		68	Dec 2024	$	1,441,600	$	(23,597	)
Sugar #11 Futures Contracts		14	Feb 2025		353,270		(36,483	)
				$	6,052,844	$	(81,552	)

^** Includes cumulative appreciation (depreciation).

^† Value determined based on Level 1 inputs, unless otherwise noted — See Note 3.

^†† Value determined based on Level 2 inputs — See Note 3.

¹ Affiliated issuer.

² All or a portion of this security is pledged as futures collateral at September 30, 2024.

³ Rate indicated is the effective yield at the time of purchase.

4	Repurchase Agreements — See Note 4.
	ICE — Intercontinental Exchange
	See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	4,897,962	$	—	$	—	$	4,897,962
U.S. Treasury Bills		—		1,908,781		—		1,908,781
Repurchase Agreements		—		5,776,653		—		5,776,653
Commodity Futures Contracts**		115,776		—		—		115,776
Equity Futures Contracts**		91,557		275		—		91,832
Currency Futures Contracts**		61,385		—		—		61,385
Interest Rate Futures Contracts**		35,976		2,801		—		38,777
Total Assets	$	5,202,656	$	7,688,510	$	—	$	12,891,166

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Commodity Futures Contracts**	$	116,786	$	—	$	—	$	116,786
Interest Rate Futures Contracts**		26,556		600		—		27,156
Equity Futures Contracts**		17,860		—		—		17,860
Currency Futures Contracts**		6,100		—		—		6,100
Total Liabilities	$	167,302	$	600	$	—	$	167,902

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

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Global Managed Futures Strategy Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows:

Security Name	Value 12/31/23		Additions		Reductions			Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	111,528	$	–	$	–		$	–		$	1,366	$	112,894		4,552	$	4,780
Guggenheim Strategy Fund III		2,187,574		–		–			–			30,297		2,217,871		89,107		89,651
Guggenheim Ultra Short Duration Fund — Institutional Class		71,646		–		–			–			1,236		72,882		7,274		2,812
Guggenheim Variable Insurance Strategy Fund III		3,298,932		–		(850,000	)		(1,466	)		46,849		2,494,315		100,294		135,105
	$	5,669,680	$	–	$	(850,000	)	$	(1,466	)	$	79,748	$	4,897,962			$	232,348

Government Long Bond 1.2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
MUTUAL FUNDS† - 8.5%
Guggenheim Strategy Fund II1		10,941	$	271,344
Guggenheim Ultra Short Duration Fund — Institutional Class1		24,725		247,744
Total Mutual Funds
(Cost $506,354)				519,088
		Face Amount
U.S. GOVERNMENT SECURITIES†† - 45.3%
U.S. Treasury Bonds
4.25% due 08/15/54	$	2,700,000		2,757,375
Total U.S. Government Securities
(Cost $2,744,371)				2,757,375
FEDERAL AGENCY DISCOUNT NOTES†† - 23.0%
Federal Home Loan Bank
4.60% due 10/02/242		1,200,000		1,199,847
Freddie Mac
5.02% due 10/07/242		200,000		199,832
Total Federal Agency Discount Notes
(Cost $1,399,679)				1,399,679
FEDERAL AGENCY NOTES†† - 8.2%
Freddie Mac
5.15% due 01/17/25		500,000		500,100
Total Federal Agency Notes
(Cost $500,090)				500,100
U.S. TREASURY BILLS†† - 1.7%
U.S. Treasury Bills
4.63% due 10/10/242,3		105,000		104,878
Total U.S. Treasury Bills
(Cost $104,866)				104,878
REPURCHASE AGREEMENTS††,4 - 15.0%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24		499,277		499,277
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		412,380		412,380
Total Repurchase Agreements
(Cost $911,657)				911,657
Total Investments - 101.7%
(Cost $6,167,017)			$	6,192,777
Other Assets & Liabilities, net - (1.7)%				(103,017	)
Total Net Assets - 100.0%			$	6,089,760

Futures Contracts                

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Interest Rate Futures Contracts Purchased†
U.S. Treasury Ultra Long Bond Futures Contracts		35	Dec 2024	$	4,664,844	$	35,340

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	Rate indicated is the effective yield at the time of purchase.
3	All or a portion of this security is pledged as futures collateral at September 30, 2024.
4	Repurchase Agreements — See Note 4.

See Sector Classification in Other Information section. 

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	519,088	$	—	$	—	$	519,088
U.S. Government Securities		—		2,757,375		—		2,757,375
Federal Agency Discount Notes		—		1,399,679		—		1,399,679
Federal Agency Notes		—		500,100		—		500,100
U.S. Treasury Bills		—		104,878		—		104,878
Repurchase Agreements		—		911,657		—		911,657
Interest Rate Futures Contracts**		35,340		—		—		35,340
Total Assets	$	554,428	$	5,673,689	$	—	$	6,228,117

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

Government Long Bond 1.2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows:

Security Name	Value 12/31/23		Additions		Reductions			Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	467,967	$	–	$	(200,000	)	$	4,279		$	(902	)	$	271,344		10,941	$	14,320
Guggenheim Ultra Short Duration Fund — Institutional Class		442,732		–		(200,000	)		(607	)		5,619			247,744		24,725		12,230
	$	910,699	$	–	$	(400,000	)	$	3,672		$	4,717		$	519,088			$	26,550

Health Care Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.6%
Pharmaceuticals - 31.7%
Eli Lilly & Co.		561	$	497,012
Johnson & Johnson		2,264		366,904
AbbVie, Inc.		1,789		353,292
Merck & Company, Inc.		2,734		310,473
Pfizer, Inc.		8,235		238,321
Bristol-Myers Squibb Co.		3,816		197,440
Zoetis, Inc.		877		171,348
CVS Health Corp.		2,710		170,405
AstraZeneca plc ADR		2,110		164,390
Becton Dickinson & Co.		655		157,921
McKesson Corp.		292		144,371
Cencora, Inc. — Class A		500		112,540
Novo Nordisk A/S ADR		918		109,306
Alkermes plc*		3,655		102,303
Teva Pharmaceutical Industries Ltd. ADR*		5,324		95,938
Novartis AG ADR		833		95,812
Cardinal Health, Inc.		861		95,158
Dexcom, Inc.*		1,418		95,063
GSK plc ADR		2,247		91,857
Vaxcyte, Inc.*		595		67,991
Viatris, Inc.		5,808		67,431
Neurocrine Biosciences, Inc.*		533		61,412
Henry Schein, Inc.*		799		58,247
Jazz Pharmaceuticals plc*		440		49,020
Option Care Health, Inc.*		1,361		42,599
Madrigal Pharmaceuticals, Inc.*		106		22,495
Total Pharmaceuticals				3,939,049
Healthcare-Products - 29.1%
Thermo Fisher Scientific, Inc.		469		290,109
Abbott Laboratories		2,264		258,119
Danaher Corp.		923		256,612
Intuitive Surgical, Inc.*		502		246,618
Boston Scientific Corp.*		2,474		207,321
Stryker Corp.		570		205,918
Medtronic plc		1,641		147,739
Agilent Technologies, Inc.		869		129,029
GE HealthCare Technologies, Inc.		1,307		122,662
IDEXX Laboratories, Inc.*		242		122,263
Edwards Lifesciences Corp.*		1,757		115,944
ResMed, Inc.		452		110,342
Waters Corp.*		258		92,852
Zimmer Biomet Holdings, Inc.		824		88,951
Cooper Companies, Inc.*		796		87,831
West Pharmaceutical Services, Inc.		291		87,347
Align Technology, Inc.*		326		82,908
Hologic, Inc.*		1,001		81,541
Baxter International, Inc.		2,112		80,193
Avantor, Inc.*		2,961		76,601
Insulet Corp.*		326		75,876
Natera, Inc.*		569		72,235
Bio-Techne Corp.		876		70,019
Exact Sciences Corp.*		964		65,668
Repligen Corp.*		354		52,682
Masimo Corp.*		394		52,532
Bruker Corp.		745		51,450
Lantheus Holdings, Inc.*		468		51,363
Penumbra, Inc.*		233		45,274
Dentsply Sirona, Inc.		1,665		45,055
Inspire Medical Systems, Inc.*		196		41,366
TransMedics Group, Inc.*		258		40,506
Inari Medical, Inc.*		762		31,425
Azenta, Inc.*		587		28,434
Total Healthcare-Products				3,614,785
Biotechnology - 20.2%
Amgen, Inc.		754		242,946
Vertex Pharmaceuticals, Inc.*		436		202,775
Gilead Sciences, Inc.		2,252		188,808
Regeneron Pharmaceuticals, Inc.*		179		188,172
Alnylam Pharmaceuticals, Inc.*		403		110,837
Biogen, Inc.*		510		98,858
Moderna, Inc.*		1,467		98,040
Argenx SE ADR*		179		97,032
CRISPR Therapeutics AG*,1		2,029		95,322
Illumina, Inc.*		672		87,636
United Therapeutics Corp.*		211		75,612
Royalty Pharma plc — Class A		2,513		71,093
Insmed, Inc.*		880		64,240
Sarepta Therapeutics, Inc.*		501		62,570
Incyte Corp.*		942		62,266
BioMarin Pharmaceutical, Inc.*		882		61,996
REVOLUTION Medicines, Inc.*		1,119		50,747
Exelixis, Inc.*		1,920		49,824
Intra-Cellular Therapies, Inc.*		674		49,317
Halozyme Therapeutics, Inc.*		840		48,082
Blueprint Medicines Corp.*		503		46,528
Viking Therapeutics, Inc.*		732		46,343
Cytokinetics, Inc.*		850		44,880
Roivant Sciences Ltd.*		3,729		43,033
Ionis Pharmaceuticals, Inc.*		1,067		42,744
Ultragenyx Pharmaceutical, Inc.*		717		39,829
Axsome Therapeutics, Inc.*		387		34,780
Bridgebio Pharma, Inc.*		1,329		33,836
TG Therapeutics, Inc.*		1,429		33,424
Iovance Biotherapeutics, Inc.*		3,201		30,057
Guardant Health, Inc.*		1,276		29,271
Apellis Pharmaceuticals, Inc.*		987		28,465
Arrowhead Pharmaceuticals, Inc.*		1,414		27,389
ACADIA Pharmaceuticals, Inc.*		1,630		25,069
Total Biotechnology				2,511,821
Healthcare-Services - 16.9%
UnitedHealth Group, Inc.		739		432,079
Elevance Health, Inc.		384		199,680
Cigna Group		516		178,763
HCA Healthcare, Inc.		405		164,604
IQVIA Holdings, Inc.*		511		121,092
Centene Corp.*		1,567		117,964
Humana, Inc.		357		113,076
ICON plc*		382		109,752
Molina Healthcare, Inc.*		241		83,039
Labcorp Holdings, Inc.		365		81,570
Quest Diagnostics, Inc.		502		77,936
Tenet Healthcare Corp.*		452		75,122
Universal Health Services, Inc. — Class B		307		70,306
Catalent, Inc.*		1,019		61,721

Health Care Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.6% (continued)
Healthcare-Services - 16.9% (continued)
HealthEquity, Inc.*		612	$	50,092
DaVita, Inc.*		302		49,507
Medpace Holdings, Inc.*		134		44,729
Acadia Healthcare Company, Inc.*		632		40,075
Teladoc Health, Inc.*		2,771		25,438
Total Healthcare-Services				2,096,545
Software - 0.8%
Veeva Systems, Inc. — Class A*		485		101,787
Electronics - 0.7%
Mettler-Toledo International, Inc.*		56		83,983
Commercial Services - 0.2%
R1 RCM, Inc.*		1,957		27,731
Total Common Stocks
(Cost $4,225,627)				12,375,701
RIGHTS††† - 0.0%
Pharmaceuticals - 0.0%
Johnson & Johnson		307		–
Total Rights
(Cost $–)				–

		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.9%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	61,506	61,506
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		50,801	50,801
Total Repurchase Agreements
(Cost $112,307)			112,307

	Shares
SECURITIES LENDING COLLATERAL†,3 - 0.7%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4	87,252		87,252
Total Securities Lending Collateral
(Cost $87,252)			87,252
Total Investments - 101.2%
(Cost $4,425,186)		$	12,575,260
Other Assets & Liabilities, net - (1.2)%			(146,174	)
Total Net Assets - 100.0%		$	12,429,086

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs			Total
Common Stocks	$	12,375,701	$	—	$	—		$	12,375,701
Rights		—		—		—	*		—
Repurchase Agreements		—		112,307		—			112,307
Securities Lending Collateral		87,252		—		—			87,252
Total Assets	$	12,462,953	$	112,307	$	—		$	12,575,260

* Security has a market value of $0.

High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
EXCHANGE-TRADED FUNDS***,† - 2.4%
iShares iBoxx High Yield Corporate Bond ETF		1,556	$	124,947
SPDR Bloomberg High Yield Bond ETF1		1,245		121,748
Total Exchange-Traded Funds
(Cost $263,173)				246,695
MUTUAL FUNDS† - 11.2%
Guggenheim Ultra Short Duration Fund — Institutional Class2		57,301		574,153
Guggenheim Strategy Fund II2		23,000		570,391
Total Mutual Funds
(Cost $1,124,043)				1,144,544

		Face Amount
FEDERAL AGENCY DISCOUNT NOTES†† - 19.4%
Federal Home Loan Bank
4.60% due 10/02/243	$	1,000,000	999,872
4.21% due 10/01/243		150,000	150,000
Freddie Mac
5.02% due 10/07/243		500,000	499,582
Federal Farm Credit Bank
4.68% due 10/24/243		350,000	348,953
Total Federal Agency Discount Notes
(Cost $1,998,407)			1,998,407
FEDERAL AGENCY NOTES†† - 16.2%
Federal Farm Credit Bank
0.40% due 10/15/24		667,000	665,851
Freddie Mac
5.15% due 01/17/25		500,000	500,100
Fannie Mae
1.63% due 10/15/24		500,000	499,347
Total Federal Agency Notes
(Cost $1,665,272)			1,665,298
U.S. TREASURY BILLS†† - 8.3%
U.S. Treasury Bills
4.62% due 10/01/243		500,000	500,000
4.28% due 10/01/243		300,000	300,000
4.63% due 10/10/243,4		52,000	51,940
Total U.S. Treasury Bills
(Cost $851,933)			851,940
REPURCHASE AGREEMENTS††,5 - 35.3%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24		1,990,243	1,990,243
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		1,643,848	1,643,848
Total Repurchase Agreements
(Cost $3,634,091)			3,634,091

	Shares
SECURITIES LENDING COLLATERAL†,6 - 0.9%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%7		93,067		93,067
Total Securities Lending Collateral
(Cost $93,067)				93,067
Total Investments - 93.7%
(Cost $9,629,986)			$	9,634,042
Other Assets & Liabilities, net - 6.3%				648,936
Total Net Assets - 100.0%			$	10,282,978

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Interest Rate Futures Contracts Purchased†
U.S. Treasury 5 Year Note Futures Contracts		94	Dec 2024	$	10,335,594	$	(11,804	)

Centrally Cleared Credit Default Swap Agreements Protection Sold^†† 

Counterparty	Exchange	Index	Protection Premium Rate			Payment Frequency	Maturity Date	Notional Amount		Value		Upfront Premiums Paid		Unrealized Appreciation**
Barclays Bank plc	ICE	CDX.NA.HY.43.V1		5.00	%	Quarterly	12/20/29	$	9,300,000	$	681,811	$	679,328	$	2,483

Total Return Swap Agreements 

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Appreciation
OTC Credit Index Swap Agreements††
BNP Paribas	iShares iBoxx $ High Yield Corporate Bond ETF	Pay	5.38% (Federal Funds Rate + 0.55%)	At Maturity	12/19/24	364	$	29,214	$	98

High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Appreciation
OTC Credit Index Swap Agreements†† (continued)
BNP Paribas	SPDR Bloomberg High Yield Bond ETF	Pay	5.38% (Federal Funds Rate + 0.55%)	At Maturity	12/19/24	192	$	18,787	$	56
Goldman Sachs International	iShares iBoxx $ High Yield Corporate Bond ETF	Pay	5.08% (Federal Funds Rate + 0.25%)	At Maturity	10/29/24	86		6,906		15
							$	54,907	$	169

**	Includes cumulative appreciation (depreciation).
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Affiliated issuer.
3	Rate indicated is the effective yield at the time of purchase.
4	All or a portion of this security is pledged as futures collateral at September 30, 2024.
5	Repurchase Agreements — See Note 4.
6	Securities lending collateral — See Note 5.
7	Rate indicated is the 7-day yield as of September 30, 2024.
	CDX.NA.HY.43.V1 — Credit Default Swap North American High Yield Series 43 Index Version 1
	ICE — Intercontinental Exchange
	plc — Public Limited Company
	See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Exchange-Traded Funds	$	246,695	$	—	$	—	$	246,695
Mutual Funds		1,144,544		—		—		1,144,544
Federal Agency Discount Notes		—		1,998,407		—		1,998,407
Federal Agency Notes		—		1,665,298		—		1,665,298
U.S. Treasury Bills		—		851,940		—		851,940
Repurchase Agreements		—		3,634,091		—		3,634,091
Securities Lending Collateral		93,067		—		—		93,067
Credit Default Swap Agreements**		—		2,483		—		2,483
Credit Index Swap Agreements**		—		169		—		169
Total Assets	$	1,484,306	$	8,152,388	$	—	$	9,636,694

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Interest Rate Futures Contracts**	$	11,804	$	—	$	—	$	11,804

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

High Yield Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows: 

Security Name	Value 12/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	563,721	$	–	$	–	$	–	$	6,670	$	570,391		23,000	$	24,148
Guggenheim Ultra Short Duration Fund — Institutional Class		564,412		–		–		–		9,741		574,153		57,301		22,192
	$	1,128,133	$	–	$	–	$	–	$	16,411	$	1,144,544			$	46,340

Internet Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.4%
Internet - 57.3%
Alphabet, Inc. — Class A		3,257	$	540,173
Amazon.com, Inc.*		2,780		517,997
Meta Platforms, Inc. — Class A		834		477,415
Netflix, Inc.*		425		301,440
Uber Technologies, Inc.*		2,932		220,369
Airbnb, Inc. — Class A*		1,200		152,172
Booking Holdings, Inc.		36		151,636
DoorDash, Inc. — Class A*		885		126,316
JD.com, Inc. ADR		3,073		122,920
Alibaba Group Holding Ltd. ADR		1,157		122,781
Shopify, Inc. — Class A*		1,253		100,415
Bilibili, Inc. ADR*		4,202		98,243
eBay, Inc.		1,488		96,884
Baidu, Inc. ADR*		909		95,709
Spotify Technology S.A.*		252		92,870
Trip.com Group Ltd. ADR*		1,541		91,582
Sea Ltd. ADR*		941		88,717
MercadoLibre, Inc.*		41		84,130
Pinterest, Inc. — Class A*		2,572		83,256
GoDaddy, Inc. — Class A*		518		81,212
Expedia Group, Inc.*		531		78,599
VeriSign, Inc.*		375		71,235
Zillow Group, Inc. — Class C*		1,036		66,149
Snap, Inc. — Class A*		6,133		65,623
F5, Inc.*		288		63,418
Okta, Inc.*		812		60,364
Match Group, Inc.*		1,470		55,625
Roku, Inc.*		740		55,248
Chewy, Inc. — Class A*		1,811		53,044
Wayfair, Inc. — Class A*		895		50,281
Etsy, Inc.*		801		44,480
Wix.com Ltd.*		260		43,464
Lyft, Inc. — Class A*		2,942		37,510
IAC, Inc.*		657		35,360
Cargurus, Inc.*		1,011		30,360
Ziff Davis, Inc.*		519		25,255
TripAdvisor, Inc.*		1,572		22,778
Trump Media & Technology Group Corp.*,1		1,278		20,537
Bumble, Inc. — Class A*		2,578		16,448
Total Internet				4,542,015
Software - 25.3%
Salesforce, Inc.		1,033		282,742
Adobe, Inc.*		475		245,945
Workday, Inc. — Class A*		554		135,403
Datadog, Inc. — Class A*		919		105,740
Electronic Arts, Inc.		730		104,711
Snowflake, Inc. — Class A*		878		100,847
Veeva Systems, Inc. — Class A*		446		93,602
Cloudflare, Inc. — Class A*		1,085		87,766
Take-Two Interactive Software, Inc.*		567		87,154
ROBLOX Corp. — Class A*		1,914		84,714
NetEase, Inc. ADR		888		83,037
Zoom Video Communications, Inc. — Class A*		1,121		78,178
MongoDB, Inc.*		268		72,454
Akamai Technologies, Inc.*		670		67,636
Nutanix, Inc. — Class A*		1,083		64,168
DocuSign, Inc.*		1,021		63,394
Twilio, Inc. — Class A*		847		55,241
Dropbox, Inc. — Class A*		1,920		48,826
Box, Inc. — Class A*		1,108		36,265
ZoomInfo Technologies, Inc. — Class A*		3,058		31,559
Smartsheet, Inc. — Class A*		570		31,555
DigitalOcean Holdings, Inc.*		624		25,203
Fastly, Inc. — Class A*		2,419		18,312
Total Software				2,004,452
Telecommunications - 11.0%
Cisco Systems, Inc.		4,664		248,218
Arista Networks, Inc.*		447		171,567
Motorola Solutions, Inc.		332		149,277
Telefonaktiebolaget LM Ericsson ADR		8,430		63,899
Juniper Networks, Inc.		1,572		61,277
Nokia Oyj ADR1		13,722		59,965
Ciena Corp.*		871		53,645
Viavi Solutions, Inc.*		2,759		24,886
Extreme Networks, Inc.*		1,560		23,447
Viasat, Inc.*		1,468		17,528
Total Telecommunications				873,709
Commercial Services - 2.5%
PayPal Holdings, Inc.*		2,063		160,976
Paylocity Holding Corp.*		217		35,798
Total Commercial Services				196,774
Real Estate - 1.2%
CoStar Group, Inc.*		1,244		93,847
Entertainment - 0.9%
DraftKings, Inc. — Class A*		1,931		75,695
Computers - 0.5%
Lumentum Holdings, Inc.*		596		37,775
Investment Companies - 0.4%
Core Scientific, Inc.*		2,483		29,449
Healthcare-Services - 0.3%
Teladoc Health, Inc.*		2,553		23,437
Total Common Stocks
(Cost $4,654,138)				7,877,153

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.6%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	26,676	26,676
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		22,033	22,033
Total Repurchase Agreements
(Cost $48,709)			48,709

Internet Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
SECURITIES LENDING COLLATERAL†,3 - 0.4%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4		34,054	$	34,054
Total Securities Lending Collateral
(Cost $34,054)				34,054
Total Investments - 100.4%
(Cost $4,736,901)				7,959,916
Other Assets & Liabilities, net - (0.4)%				(34,395	)
Total Net Assets - 100.0%			$	7,925,521

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

ADR — American Depositary Receipt

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	7,877,153	$	—	$	—	$	7,877,153
Repurchase Agreements		—		48,709		—		48,709
Securities Lending Collateral		34,054		—		—		34,054
Total Assets	$	7,911,207	$	48,709	$	—	$	7,959,916

Inverse Dow 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Face Amount		Value
FEDERAL AGENCY DISCOUNT NOTES†† - 27.3%
Federal Home Loan Bank
4.21% due 10/01/241	$	150,000	$	150,000
4.60% due 10/01/241		100,000		100,000
Federal Farm Credit Bank
4.68% due 10/24/241		150,000		149,552
Total Federal Agency Discount Notes
(Cost $399,552)				399,552
FEDERAL AGENCY NOTES†† - 13.7%
Freddie Mac
5.15% due 01/17/25		100,000		100,020
Fannie Mae
1.63% due 10/15/24		100,000		99,869
Total Federal Agency Notes
(Cost $199,882)				199,889
U.S. TREASURY BILLS†† - 13.7%
U.S. Treasury Bills
4.28% due 10/01/241		100,000		100,000
4.85% due 12/12/241,2		50,000		49,553
4.50% due 12/12/241		50,000		49,553
Total U.S. Treasury Bills
(Cost $199,064)				199,106
REPURCHASE AGREEMENTS††,3 - 67.5%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/242		540,829		540,829
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/242		446,699		446,699
Total Repurchase Agreements
(Cost $987,528)				987,528
Total Investments - 122.2%
(Cost $1,786,026)			$	1,786,075
Other Assets & Liabilities, net - (22.2)%				(323,938	)
Total Net Assets - 100.0%			$	1,462,137

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements Sold Short††
Barclays Bank plc	Dow Jones Industrial Average	Receive	5.14% (SOFR + 0.30%)	At Maturity	12/19/24	17	$	700,776	$	(2,025	)
BNP Paribas	Dow Jones Industrial Average	Receive	5.33% (Federal Funds Rate + 0.50%)	At Maturity	12/19/24	52		2,214,976		(14,162	)
							$	2,915,752	$	(16,187	)

††	Value determined based on Level 2 inputs — See Note 3.
1	Rate indicated is the effective yield at the time of purchase.
2	All or a portion of this security is pledged as equity index swap collateral at September 30, 2024.
3	Repurchase Agreements — See Note 4.

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Federal Agency Discount Notes	$	—	$	399,552	$	—	$	399,552
Federal Agency Notes		—		199,889		—		199,889
U.S. Treasury Bills		—		199,106		—		199,106
Repurchase Agreements		—		987,528		—		987,528
Total Assets	$	—	$	1,786,075	$	—	$	1,786,075

Inverse Dow 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs			Total
Equity Index Swap Agreements**	$	—	$	16,187	$	—	$	16,187

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

Inverse Government Long Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
MUTUAL FUNDS† - 35.0%
Guggenheim Strategy Fund II1		20,730	$	514,101
Guggenheim Ultra Short Duration Fund — Institutional Class1		46,499		465,920
Total Mutual Funds
(Cost $971,295)				980,021
		Face Amount
FEDERAL AGENCY NOTES†† - 17.8%
Freddie Mac
5.15% due 01/17/25	$	300,000		300,060
Fannie Mae
1.63% due 10/15/24		200,000		199,739
Total Federal Agency Notes
(Cost $499,770)				499,799
FEDERAL AGENCY DISCOUNT NOTES†† - 8.9%
Federal Home Loan Bank
4.70% due 10/23/242		250,000		249,282
Total Federal Agency Discount Notes
(Cost $249,282)				249,282
U.S. TREASURY BILLS†† - 0.8%
U.S. Treasury Bills
4.63% due 10/10/242,3		22,000		21,974
Total U.S. Treasury Bills
(Cost $21,972)				21,974
REPURCHASE AGREEMENTS†† - 103.7%
Individual Repurchase Agreements4  Mizuho Securities USA LLC issued 09/30/24 at 4.70% due 10/01/24 (secured by a U.S. Treasury Bond, at a rate of 4.25% and maturing 08/15/54 as collateral, with a value of $1,236,563) to be repurchased at $1,212,474		1,212,316		1,212,316
Barclays Capital, Inc. issued 09/30/24 at 4.50% due 10/01/24 (secured by a U.S. Treasury Bond, at a rate of 4.25% and maturing 08/15/54 as collateral, with a value of $722,033) to be repurchased at $707,963		707,875		707,875
Joint Repurchase Agreements5 J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24		537,551		537,551
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		443,993		443,993
Total Repurchase Agreements
(Cost $2,901,735)				2,901,735
Total Investments - 166.2%
(Cost $4,644,054)			$	4,652,811
U.S. GOVERNMENT SECURITIES SOLD SHORT†† - (73.0)%
U.S. Treasury Bonds
4.25% due 08/15/54		2,000,000		(2,042,500	)
Total U.S. Government Securities Sold Short -
(Proceeds $2,055,812)			$	(2,042,500	)
Other Assets & Liabilities, net - 6.8%				189,181
Total Net Assets - 100.0%			$	2,799,492

Inverse Government Long Bond Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Interest Rate Futures Contracts Sold Short†
U.S. Treasury Ultra Long Bond Futures Contracts		6	Dec 2024	$	799,688	$	14,211

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	Rate indicated is the effective yield at the time of purchase.
3	All or a portion of this security is pledged as futures collateral at September 30, 2024.
4	All or a portion of this security is pledged as short security collateral at September 30, 2024.
5	Repurchase Agreements — See Note 4.

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	980,021	$	—	$	—	$	980,021
Federal Agency Notes		—		499,799		—		499,799
Federal Agency Discount Notes		—		249,282		—		249,282
U.S. Treasury Bills		—		21,974		—		21,974
Repurchase Agreements		—		2,901,735		—		2,901,735
Interest Rate Futures Contracts**		14,211		—		—		14,211
Total Assets	$	994,232	$	3,672,790	$	—	$	4,667,022
Investments in Securities (Liabilities)		Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
U.S. Government Securities Sold Short	$	—	$	2,042,500	$	—	$	2,042,500

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

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows:

Security Name	Value 12/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	508,089	$	–	$	–	$	–	$	6,012	$	514,101		20,730	$	21,765
Guggenheim Ultra Short Duration Fund — Institutional Class	$	458,015	$	–	$	–	$	–	$	7,905	$	465,920		46,499	$	18,008
	$	966,104	$	–	$	–	$	–	$	13,917	$	980,021			$	39,773

Inverse Mid-Cap Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
MUTUAL FUNDS† - 37.8%
Guggenheim Ultra Short Duration Fund — Institutional Class1		2,464	$	24,687
Guggenheim Strategy Fund II1		822		20,379
Total Mutual Funds
(Cost $43,902)				45,066

	Face Amount
FEDERAL AGENCY NOTES†† - 15.9%
Fannie Mae
1.63% due 10/15/24	$	19,000		18,975
Total Federal Agency Notes
(Cost $18,974)				18,975
FEDERAL AGENCY DISCOUNT NOTES†† - 13.4%
Freddie Mac
5.02% due 10/07/242		16,000		15,987
Total Federal Agency Discount Notes
(Cost $15,987)				15,987
REPURCHASE AGREEMENTS††,3 - 33.7%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/244		22,055		22,055
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/244		18,216		18,216
Total Repurchase Agreements
(Cost $40,271)				40,271
Total Investments - 100.8%
(Cost $119,134)			$	120,299
Other Assets & Liabilities, net - (0.8)%				(960	)
Total Net Assets - 100.0%			$	119,339

Total Return Swap Agreements
Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements Sold Short††
Barclays Bank plc	S&P MidCap 400 Index	Receive	5.09% (SOFR + 0.25%)	At Maturity	12/19/24	18	$	57,006	$	(54	)
BNP Paribas	S&P MidCap 400 Index	Receive	4.98% (Federal Funds Rate + 0.15%)	At Maturity	12/19/24	10		31,494		(334	)
Goldman Sachs International	S&P MidCap 400 Index	Receive	4.78% (Federal Funds Rate - 0.05%)	At Maturity	12/18/24	11		33,307		(352	)
							$	121,807	$	(740	)

†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	Rate indicated is the effective yield at the time of purchase.
3	Repurchase Agreements — See Note 4.
4	All or a portion of this security is pledged as equity index swap collateral at September 30, 2024.

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs			Total
Mutual Funds	$	45,066	$	—	$	—	$	45,066
Federal Agency Notes		—		18,975		—		18,975
Federal Agency Discount Notes		—		15,987		—		15,987
Repurchase Agreements		—		40,271		—		40,271
Total Assets	$	45,066	$	75,233	$	—	$	120,299

Inverse Mid-Cap Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Index Swap Agreements**	$	—	$	740	$	—	$	740

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

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows:
Security Name	Value 12/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	20,132	$	–	$	–	$	–	$	247	$	20,379		822	$	863
Guggenheim Ultra Short Duration Fund — Institutional Class		24,268		–		–		–		419		24,687		2,464		953
	$	44,400	$	–	$	–	$	–	$	666	$	45,066			$	1,816

Inverse NASDAQ-100® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
MUTUAL FUNDS† - 36.2%
Guggenheim Ultra Short Duration Fund — Institutional Class1	18,765	$	188,022
Guggenheim Strategy Fund II1	7,386		183,174
Total Mutual Funds
(Cost $368,699)			371,196

		Face Amount
FEDERAL AGENCY NOTES†† - 19.5%
Freddie Mac
5.15% due 01/17/25	$	100,000		100,020
Fannie Mae
1.63% due 10/15/24		100,000		99,869
Total Federal Agency Notes
(Cost $199,882)				199,889
FEDERAL AGENCY DISCOUNT NOTES†† - 9.7%
Federal Home Loan Bank
4.70% due 10/23/242		100,000		99,713
Total Federal Agency Discount Notes
(Cost $99,713)				99,713
REPURCHASE AGREEMENTS††,3 - 32.5%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/244		182,339		182,339
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/244		150,603		150,603
Total Repurchase Agreements
(Cost $332,942)				332,942
Total Investments - 97.9%
(Cost $1,001,236)			$	1,003,740
Other Assets & Liabilities, net - 2.1%				21,455
Total Net Assets - 100.0%			$	1,025,195

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements Sold Short††
BNP Paribas	NASDAQ-100 Index	Receive	5.33% (Federal Funds Rate + 0.50%)	At Maturity	12/19/24	16	$	327,667	$	(1,435	)
Goldman Sachs International	NASDAQ-100 Index	Receive	5.13% (Federal Funds Rate + 0.30%)	At Maturity	12/18/24	20		391,199		(1,722	)
Barclays Bank plc	NASDAQ-100 Index	Receive	5.19% (SOFR + 0.35%)	At Maturity	12/19/24	15		307,206		(1,769	)
							$	1,026,072	$	(4,926	)

†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	Rate indicated is the effective yield at the time of purchase.
3	Repurchase Agreements — See Note 4.
4	All or a portion of this security is pledged as equity index swap collateral at September 30, 2024.

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	371,196	$	—	$	—	$	371,196
Federal Agency Notes		—		199,889		—		199,889
Federal Agency Discount Notes		—		99,713		—		99,713
Repurchase Agreements		—		332,942		—		332,942
Total Assets	$	371,196	$	632,544	$	—	$	1,003,740

Inverse NASDAQ-100® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Index Swap Agreements**	$	—	$	4,926	$	—	$	4,926

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

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows:

Security Name	Value 12/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	180,958	$	—	$	—	$	—	$	2,216	$	183,174		7,386	$	7,756
Guggenheim Ultra Short Duration Fund — Institutional Class		184,832		—		—		—		3,190		188,022		18,765		7,255
	$	365,790	$	—	$	—	$	—	$	5,406	$	371,196			$	15,011

Inverse Russell 2000® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
MUTUAL FUNDS† - 21.4%
Guggenheim Ultra Short Duration Fund — Institutional Class1		6,762	$	67,759
Guggenheim Strategy Fund II1		2,575		63,854
Total Mutual Funds
(Cost $128,417)				131,613
	Face Amount
FEDERAL AGENCY DISCOUNT NOTES†† - 16.3%
Freddie Mac
5.02% due 10/07/242	$	100,000		99,916
Total Federal Agency Discount Notes
(Cost $99,916)				99,916
FEDERAL AGENCY NOTES†† - 16.3%
Fannie Mae
1.63% due 10/15/24		100,000		99,870
Total Federal Agency Notes
(Cost $99,864)				99,870
REPURCHASE AGREEMENTS††,3 - 49.1%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/244		165,357		165,357
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/244		136,577		136,577
Total Repurchase Agreements
(Cost $301,934)				301,934
Total Investments - 103.1%
(Cost $630,131)			$	633,333
Other Assets & Liabilities, net - (3.1)%				(18,799	)
Total Net Assets - 100.0%			$	614,534

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements Sold Short††
Barclays Bank plc	Russell 2000 Index	Receive	4.89% (SOFR + 0.05%)	At Maturity	12/19/24	44	$	99,220	$	(265	)
Goldman Sachs International	Russell 2000 Index	Receive	4.68% (Federal Funds Rate - 0.15%)	At Maturity	12/18/24	62		137,358		(2,003	)
BNP Paribas	Russell 2000 Index	Receive	4.98% (Federal Funds Rate + 0.15%)	At Maturity	12/19/24	174		388,759		(5,669	)
							$	625,337	$	(7,937	)

†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	Rate indicated is the effective yield at the time of purchase.
3	Repurchase Agreements — See Note 4.
4	All or a portion of this security is pledged as equity index swap collateral at September 30, 2024.

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	131,613	$	—	$	—	$	131,613
Federal Agency Discount Notes		—		99,916		—		99,916
Federal Agency Notes		—		99,870		—		99,870
Repurchase Agreements		—		301,934		—		301,934
Total Assets	$	131,613	$	501,720	$	—	$	633,333

Inverse Russell 2000® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Index Swap Agreements**	$	—	$	7,937	$	—	$	7,937

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

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows:

Security Name	Value 12/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	63,081	$	–	$	–	$	–	$	773	$	63,854		2,575	$	2,704
Guggenheim Ultra Short Duration Fund — Institutional Class		66,609		–		–		–		1,150		67,759		6,762		2,614
	$	129,690	$	–	$	–	$	–	$	1,923	$	131,613			$	5,318

Inverse S&P 500^® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)  
September 30, 2024

	Shares		Value
MUTUAL FUNDS† - 44.8%
Guggenheim Ultra Short Duration Fund — Institutional Class1		21,574	$	216,168
Guggenheim Strategy Fund II1		8,649		214,485
Total Mutual Funds
(Cost $425,276)				430,653

	Face Amount
FEDERAL AGENCY NOTES†† - 35.4%
Fannie Mae
1.63% due 10/15/24	$	150,000		149,804
Freddie Mac
5.15% due 01/17/25		100,000		100,020
Federal Farm Credit Bank
0.40% due 10/15/24		90,000		89,845
Total Federal Agency Notes
(Cost $339,662)				339,669
FEDERAL AGENCY DISCOUNT NOTES†† - 15.6%
Federal Home Loan Bank
4.60% due 10/02/242		150,000		149,981
Total Federal Agency Discount Notes
(Cost $149,981)				149,981
REPURCHASE AGREEMENTS††,3 - 34.9%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/244		183,900		183,900
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/244		151,893		151,893
Total Repurchase Agreements
(Cost $335,793)				335,793
Total Investments - 130.7%
(Cost $1,250,712)			$	1,256,096
Other Assets & Liabilities, net - (30.7)%				(295,214	)
Total Net Assets - 100.0%			$	960,882

Futures Contracts

Description	Number of Contracts	Expiration Date	Notional Amount		Value and Unrealized Depreciation**
Equity Futures Contracts Sold Short†
S&P 500 Index Mini Futures Contracts	1	Dec 2024	$	290,800	$	(1,956	)

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Depreciation
OTC Equity Index Swap Agreements Sold Short††
Barclays Bank plc	S&P 500 Index	Receive	5.14% (SOFR + 0.30%)	At Maturity	12/19/24		18	$	105,890	$	(544	)
Goldman Sachs International	S&P 500 Index	Receive	5.13% (Federal Funds Rate + 0.30%)	At Maturity	12/18/24		36		205,938		(1,438	)
BNP Paribas	S&P 500 Index	Receive	5.28% (Federal Funds Rate + 0.45%)	At Maturity	12/19/24		64		368,071		(2,569	)
								$	679,899	$	(4,551	)

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	Rate indicated is the effective yield at the time of purchase.
3	Repurchase Agreements — See Note 4.
4	All or a portion of this security is pledged as equity index swap collateral at September 30, 2024.

plc — Public Limited Company  

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section. 

Inverse S&P 500^® Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)  
September 30, 2024

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Mutual Funds	$	430,653	$	—	$	—	$	430,653
Federal Agency Notes		—		339,669		—		339,669
Federal Agency Discount Notes		—		149,981		—		149,981
Repurchase Agreements		—		335,793		—		335,793
Total Assets	$	430,653	$	825,443	$	—	$	1,256,096

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Equity Futures Contracts**	$	1,956	$	—	$	—	$	1,956
Equity Index Swap Agreements**		—		4,551		—		4,551
Total Liabilities	$	1,956	$	4,551	$	—	$	6,507

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

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows:

Security Name	Value 12/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	211,890	$	—	$	—	$	—	$	2,595	$	214,485		8,649	$	9,082
Guggenheim Ultra Short Duration Fund — Institutional Class		212,500		—		—		—		3,668		216,168		21,574		8,341
	$	424,390	$	—	$	—	$	—	$	6,263	$	430,653			$	17,423

Japan 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)  
September 30, 2024

	Face Amount		Value
U.S. TREASURY BILLS†† - 28.2%
U.S. Treasury Bills
4.63% due 10/10/241,2	$	472,000	$	471,452
Total U.S. Treasury Bills
(Cost $471,395)				471,452
FEDERAL AGENCY NOTES†† - 17.9%
Freddie Mac
5.15% due 01/17/25		100,000		100,020
Fannie Mae
1.63% due 10/15/24		100,000		99,869
Federal Farm Credit Bank
0.40% due 10/15/24		100,000		99,828
Total Federal Agency Notes
(Cost $299,707)				299,717
FEDERAL AGENCY DISCOUNT NOTES†† - 7.5%
Federal Home Loan Bank
4.60% due 10/01/242		125,000		125,000
Total Federal Agency Discount Notes
(Cost $125,000)				125,000
REPURCHASE AGREEMENTS††,3 - 44.5%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24		407,865		407,865
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		336,877		336,877
Total Repurchase Agreements
(Cost $744,742)				744,742
Total Investments - 98.1%
(Cost $1,640,844)			$	1,640,911
Other Assets & Liabilities, net - 1.9%				32,575
Total Net Assets - 100.0%			$	1,673,486

Futures Contracts

Description	Number of Contracts	Expiration Date	Notional Amount		Value and Unrealized Appreciation (Depreciation)**
Equity Futures Contracts Purchased†
Nikkei 225 (CME) Index Futures Contracts	17	Dec 2024	$	3,253,375	$	249,819
Currency Futures Contracts Purchased†
Japanese Yen Futures Contracts	37	Dec 2024		3,250,450		(26,688	)

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is pledged as futures collateral at September 30, 2024.
2	Rate indicated is the effective yield at the time of purchase.
3	Repurchase Agreements — See Note 4.

CME — Chicago Mercantile Exchange

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
U.S. Treasury Bills	$	—	$	471,452	$	—	$	471,452
Federal Agency Notes		—		299,717		—		299,717
Federal Agency Discount Notes		—		125,000		—		125,000
Repurchase Agreements		—		744,742		—		744,742
Equity Futures Contracts**		249,819		—		—		249,819
Total Assets	$	249,819	$	1,640,911	$	—	$	1,890,730

Japan 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)  
September 30, 2024

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Currency Futures Contracts**	$	26,688	$	—	$	—	$	26,688

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

Leisure Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.6%
Retail - 20.8%
McDonald's Corp.		500	$	152,255
Starbucks Corp.		1,064		103,729
Chipotle Mexican Grill, Inc. — Class A*		1,570		90,463
Yum! Brands, Inc.		462		64,546
Yum China Holdings, Inc.		1,015		45,695
Darden Restaurants, Inc.		275		45,136
Domino's Pizza, Inc.		94		40,433
Restaurant Brands International, Inc.		542		39,089
Texas Roadhouse, Inc. — Class A		203		35,850
Cava Group, Inc.*		245		30,343
Wingstop, Inc.		62		25,797
Dutch Bros, Inc. — Class A*		655		20,980
Shake Shack, Inc. — Class A*		202		20,849
Sweetgreen, Inc. — Class A*		553		19,604
Brinker International, Inc.*		249		19,056
Wendy's Co.		1,015		17,783
Cheesecake Factory, Inc.		357		14,476
Papa John's International, Inc.		260		14,006
Bloomin' Brands, Inc.		721		11,918
Cracker Barrel Old Country Store, Inc.		245		11,111
Dave & Buster's Entertainment, Inc.*		318		10,828
Jack in the Box, Inc.		198		9,215
Total Retail				843,162
Internet - 17.9%
Netflix, Inc.*		248		175,899
Booking Holdings, Inc.		23		96,879
Airbnb, Inc. — Class A*		702		89,020
DoorDash, Inc. — Class A*		518		73,934
Spotify Technology S.A.*		149		54,911
Bilibili, Inc. ADR*		2,289		53,517
Trip.com Group Ltd. ADR*		872		51,823
Sea Ltd. ADR*		538		50,723
Expedia Group, Inc.*		311		46,034
Roku, Inc.*		432		32,253
Total Internet				724,993
Media - 15.1%
Walt Disney Co.		1,433		137,840
Comcast Corp. — Class A		3,154		131,742
Charter Communications, Inc. — Class A*		171		55,418
Fox Corp. — Class A		1,078		45,632
Warner Bros Discovery, Inc.*		5,099		42,067
News Corp. — Class A		1,500		39,945
Liberty Broadband Corp. — Class C*		465		35,940
New York Times Co. — Class A		543		30,229
Paramount Global — Class B1		2,430		25,807
Endeavor Group Holdings, Inc. — Class A1		895		25,561
Nexstar Media Group, Inc. — Class A		138		22,818
Sirius XM Holdings, Inc.		851		20,119
Total Media				613,118
Entertainment - 10.8%
DraftKings, Inc. — Class A*		1,130		44,296
Live Nation Entertainment, Inc.*		403		44,124
TKO Group Holdings, Inc.*		356		44,041
Warner Music Group Corp. — Class A		1,293		40,471
Flutter Entertainment plc*		166		39,389
Caesars Entertainment, Inc.*		773		32,265
Churchill Downs, Inc.		217		29,341
Light & Wonder, Inc. — Class A*		281		25,495
Vail Resorts, Inc.		141		24,575
Red Rock Resorts, Inc. — Class A		407		22,157
Cinemark Holdings, Inc.*		616		17,149
Penn Entertainment, Inc.*		907		17,106
International Game Technology plc		733		15,613
Marriott Vacations Worldwide Corp.		212		15,578
United Parks & Resorts, Inc.*		245		12,397
AMC Entertainment Holdings, Inc. — Class A*		2,715		12,353
Total Entertainment				436,350
Lodging - 9.2%
Marriott International, Inc. — Class A		311		77,315
Hilton Worldwide Holdings, Inc.		334		76,987
Las Vegas Sands Corp.		959		48,276
Hyatt Hotels Corp. — Class A		259		39,420
Wynn Resorts Ltd.		354		33,941
MGM Resorts International*		788		30,803
Wyndham Hotels & Resorts, Inc.		315		24,614
Boyd Gaming Corp.		329		21,270
Choice Hotels International, Inc.1		149		19,415
Total Lodging				372,041
Leisure Time - 7.4%
Royal Caribbean Cruises Ltd.		363		64,382
Carnival Corp.*		2,479		45,812
Planet Fitness, Inc. — Class A*		434		35,249
Norwegian Cruise Line Holdings Ltd.*		1,506		30,888
Brunswick Corp.		297		24,895
Harley-Davidson, Inc.		583		22,463
Polaris, Inc.		260		21,642
YETI Holdings, Inc.*		476		19,530
Peloton Interactive, Inc. — Class A*		2,989		13,989
Topgolf Callaway Brands Corp.*		1,249		13,714
Sabre Corp.*		2,445		8,973
Total Leisure Time				301,537
Agriculture - 6.5%
Philip Morris International, Inc.		1,138		138,153
Altria Group, Inc.		1,822		92,995
British American Tobacco plc ADR		900		32,922
Total Agriculture				264,070
Software - 5.1%
Electronic Arts, Inc.		426		61,105

Leisure Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.6% (continued)
Software - 5.1% (continued)
Take-Two Interactive Software, Inc.*	332	$	51,032
ROBLOX Corp. — Class A*	1,120		49,571
NetEase, Inc. ADR	495		46,288
Total Software			207,996
Beverages - 4.6%
Constellation Brands, Inc. — Class A	255		65,711
Brown-Forman Corp. — Class B	995		48,954
Anheuser-Busch InBev S.A. ADR	530		35,133
Molson Coors Beverage Co. — Class B	592		34,052
Total Beverages			183,850
Toys, Games & Hobbies - 1.4%
Hasbro, Inc.	440		31,821
Mattel, Inc.*	1,350		25,717
Total Toys, Games & Hobbies			57,538
Food Service - 0.8%
Aramark	832		32,223
Total Common Stocks
(Cost $1,892,112)			4,036,878

		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.7%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	16,090	16,090
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		13,289	13,289
Total Repurchase Agreements
(Cost $29,379)			29,379

	Shares
SECURITIES LENDING COLLATERAL†,3 - 1.1%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4	46,605		46,605
Total Securities Lending Collateral
(Cost $46,605)			46,605
Total Investments - 101.4%
(Cost $1,968,096)		$	4,112,862
Other Assets & Liabilities, net - (1.4)%			(57,271	)
Total Net Assets - 100.0%		$	4,055,591

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	4,036,878	$	—	$	—	$	4,036,878
Repurchase Agreements		—		29,379		—		29,379
Securities Lending Collateral		46,605		—		—		46,605
Total Assets	$	4,083,483	$	29,379	$	—	$	4,112,862

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 80.2%
Industrial - 18.7%
Carlisle Companies, Inc.		54	$	24,287
EMCOR Group, Inc.		55		23,679
Lennox International, Inc.		38		22,963
Owens Corning		103		18,182
Graco, Inc.		199		17,414
Comfort Systems USA, Inc.		42		16,395
AECOM		158		16,317
Coherent Corp.*		181		16,093
Tetra Tech, Inc.		316		14,902
Curtiss-Wright Corp.		45		14,791
XPO, Inc.*		137		14,729
Clean Harbors, Inc.*		60		14,503
ITT, Inc.		96		14,353
TopBuild Corp.*		35		14,238
nVent Electric plc		196		13,771
Saia, Inc.*		31		13,555
Crown Holdings, Inc.		141		13,519
Regal Rexnord Corp.		79		13,105
Fortune Brands Innovations, Inc.		146		13,071
Advanced Drainage Systems, Inc.		83		13,044
Lincoln Electric Holdings, Inc.		67		12,865
AptarGroup, Inc.		78		12,495
Woodward, Inc.		70		12,006
BWX Technologies, Inc.		108		11,740
Eagle Materials, Inc.		40		11,506
CNH Industrial N.V.		1,036		11,499
Universal Display Corp.		52		10,915
TD SYNNEX Corp.		90		10,807
Toro Co.		123		10,668
Graphic Packaging Holding Co.		354		10,475
Donaldson Company, Inc.		142		10,465
Knight-Swift Transportation Holdings, Inc.		191		10,304
RBC Bearings, Inc.*		34		10,179
Fabrinet*		43		10,167
Applied Industrial Technologies, Inc.		45		10,041
Acuity Brands, Inc.		36		9,914
Fluor Corp.*		202		9,637
Simpson Manufacturing Company, Inc.		50		9,564
UFP Industries, Inc.		72		9,447
Berry Global Group, Inc.		135		9,177
Crane Co.		57		9,022
MasTec, Inc.*		73		8,986
Middleby Corp.*		63		8,765
Trex Company, Inc.*		128		8,522
AAON, Inc.		79		8,519
Kirby Corp.*		68		8,325
Arrow Electronics, Inc.*		62		8,235
Cognex Corp.		202		8,181
MSA Safety, Inc.		46		8,158
Flowserve Corp.		155		8,012
Louisiana-Pacific Corp.		74		7,952
Landstar System, Inc.		42		7,933
Oshkosh Corp.		77		7,716
Littelfuse, Inc.		29		7,692
Novanta, Inc.*		42		7,515
Ryder System, Inc.		51		7,436

AGCO Corp.	73	7,144
Esab Corp.	67	7,123
Valmont Industries, Inc.	24	6,959
Exponent, Inc.	60	6,917
Stericycle, Inc.*	110	6,710
Watts Water Technologies, Inc. — Class A	32	6,630
MDU Resources Group, Inc.	241	6,606
Sensata Technologies Holding plc	178	6,383
Sonoco Products Co.	116	6,337
NEXTracker, Inc. — Class A*	169	6,334
Timken Co.	75	6,322
Chart Industries, Inc.*	50	6,207
Vontier Corp.	181	6,107
Knife River Corp.*	67	5,989
Hexcel Corp.	96	5,936
Avnet, Inc.	104	5,648
Belden, Inc.	48	5,622
GATX Corp.	42	5,563
Silgan Holdings, Inc.	96	5,040
EnerSys	47	4,796
Terex Corp.	79	4,180
Vishay Intertechnology, Inc.	134	2,534
Greif, Inc. — Class A	30	1,880
Total Industrial		800,718
Financial - 18.6%
Fidelity National Financial, Inc.	307	19,052
Interactive Brokers Group, Inc. — Class A	128	17,838
Reinsurance Group of America, Inc. — Class A	78	16,994
RenaissanceRe Holdings Ltd.	62	16,889
Gaming and Leisure Properties, Inc. REIT	324	16,670
WP Carey, Inc. REIT	258	16,073
Equitable Holdings, Inc.	377	15,845
Equity LifeStyle Properties, Inc. REIT	220	15,695
Jones Lang LaSalle, Inc.*	56	15,109
CubeSmart REIT	266	14,319
American Homes 4 Rent — Class A REIT	371	14,243
Lamar Advertising Co. — Class A REIT	104	13,894
East West Bancorp, Inc.	164	13,569
Rexford Industrial Realty, Inc. REIT	259	13,030
Omega Healthcare Investors, Inc. REIT	304	12,373
Kinsale Capital Group, Inc.	26	12,105
Unum Group	202	12,007
Annaly Capital Management, Inc. REIT	591	11,861
Jefferies Financial Group, Inc.	192	11,818
Ally Financial, Inc.	324	11,531
American Financial Group, Inc.	85	11,441
Stifel Financial Corp.	121	11,362
Western Alliance Bancorporation	129	11,157
Carlyle Group, Inc.	248	10,679

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 80.2% (continued)
Financial - 18.6% (continued)
EastGroup Properties, Inc. REIT		57	$	10,649
Evercore, Inc. — Class A		42		10,640
Primerica, Inc.		40		10,606
NNN REIT, Inc.		217		10,522
Houlihan Lokey, Inc.		63		9,955
Old Republic International Corp.		281		9,953
Brixmor Property Group, Inc. REIT		356		9,918
First Horizon Corp.		632		9,815
Webster Financial Corp.		202		9,415
Voya Financial, Inc.		116		9,190
Agree Realty Corp. REIT		118		8,889
Pinnacle Financial Partners, Inc.		90		8,817
SouthState Corp.		90		8,746
First Industrial Realty Trust, Inc. REIT		156		8,733
Cullen/Frost Bankers, Inc.		76		8,501
Wintrust Financial Corp.		78		8,465
STAG Industrial, Inc. REIT		215		8,404
Zions Bancorp North America		174		8,216
Commerce Bancshares, Inc.		138		8,197
SEI Investments Co.		117		8,095
Hamilton Lane, Inc. — Class A		48		8,083
Prosperity Bancshares, Inc.		112		8,072
Essent Group Ltd.		125		8,036
Ryan Specialty Holdings, Inc.		121		8,033
First American Financial Corp.		121		7,987
MGIC Investment Corp.		306		7,834
Healthcare Realty Trust, Inc. REIT		428		7,768
Vornado Realty Trust REIT		196		7,722
Starwood Property Trust, Inc. REIT		375		7,643
RLI Corp.		49		7,594
Synovus Financial Corp.		170		7,560
Old National Bancorp		376		7,016
Kite Realty Group Trust REIT		259		6,879
Cadence Bank		215		6,848
Selective Insurance Group, Inc.		72		6,718
Columbia Banking System, Inc.		247		6,449
Affiliated Managers Group, Inc.		35		6,223
Hanover Insurance Group, Inc.		42		6,221
Glacier Bancorp, Inc.		134		6,124
FNB Corp.		424		5,983
Home BancShares, Inc.		219		5,933
United Bankshares, Inc.		159		5,899
SLM Corp.		257		5,878
Janus Henderson Group plc		150		5,710
First Financial Bankshares, Inc.		152		5,626
UMB Financial Corp.		52		5,466
Independence Realty Trust, Inc. REIT		265		5,433
Bank OZK		125		5,374
Cousins Properties, Inc. REIT		180		5,306
Hancock Whitney Corp.		102		5,219
Sabra Health Care REIT, Inc.		276		5,136
Rayonier, Inc. REIT		158		5,085
Kilroy Realty Corp. REIT		125		4,838
Western Union Co.		399		4,760
Valley National Bancorp		505		4,575

CNO Financial Group, Inc.	125	4,387
EPR Properties REIT	89	4,365
Kemper Corp.	71	4,349
COPT Defense Properties REIT	133	4,034
New York Community Bancorp, Inc.	352	3,953
National Storage Affiliates Trust REIT	82	3,952
Texas Capital Bancshares, Inc.*	55	3,930
PotlatchDeltic Corp. REIT	85	3,829
Associated Banc-Corp.	175	3,770
International Bancshares Corp.	63	3,767
Park Hotels & Resorts, Inc. REIT	247	3,483
Federated Hermes, Inc. — Class B	93	3,420
Brighthouse Financial, Inc.*	72	3,242
Total Financial		796,792
Consumer, Non-cyclical - 13.4%
Illumina, Inc.*	188	24,517
Avantor, Inc.*	802	20,748
United Therapeutics Corp.*	53	18,993
Tenet Healthcare Corp.*	113	18,781
US Foods Holding Corp.*	289	17,774
RB Global, Inc.	217	17,466
BioMarin Pharmaceutical, Inc.*	225	15,815
Performance Food Group Co.*	184	14,420
Sarepta Therapeutics, Inc.*	113	14,113
Neurocrine Biosciences, Inc.*	119	13,711
Service Corporation International	172	13,576
Sprouts Farmers Market, Inc.*	118	13,028
Encompass Health Corp.	119	11,500
Chemed Corp.	18	10,817
Ingredion, Inc.	77	10,582
H&R Block, Inc.	165	10,486
Morningstar, Inc.	32	10,212
WEX, Inc.*	48	10,067
Medpace Holdings, Inc.*	30	10,014
Ensign Group, Inc.	67	9,636
FTI Consulting, Inc.*	42	9,558
Globus Medical, Inc. — Class A*	133	9,515
BellRing Brands, Inc.*	153	9,290
Coca-Cola Consolidated, Inc.	7	9,215
Repligen Corp.*	61	9,078
Lantheus Holdings, Inc.*	82	8,999
Bruker Corp.	130	8,978
Penumbra, Inc.*	46	8,938
Exelixis, Inc.*	337	8,745
Halozyme Therapeutics, Inc.*	149	8,529
HealthEquity, Inc.*	103	8,430
Paylocity Holding Corp.*	51	8,413
Jazz Pharmaceuticals plc*	73	8,133
Bio-Rad Laboratories, Inc. — Class A*	23	7,695
GXO Logistics, Inc.*	141	7,342
Cytokinetics, Inc.*	139	7,339
elf Beauty, Inc.*	67	7,305
Darling Ingredients, Inc.*	188	6,986
Acadia Healthcare Company, Inc.*	110	6,975
Masimo Corp.*	52	6,933

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 80.2% (continued)
Consumer, Non-cyclical - 13.4% (continued)
Post Holdings, Inc.*		56	$	6,482
Dentsply Sirona, Inc.		239		6,467
Valvoline, Inc.*		152		6,361
Option Care Health, Inc.*		202		6,323
Brink's Co.		52		6,013
Roivant Sciences Ltd.*		515		5,943
Celsius Holdings, Inc.*		184		5,770
Flowers Foods, Inc.		231		5,329
Euronet Worldwide, Inc.*		50		4,962
Grand Canyon Education, Inc.*		34		4,823
Haemonetics Corp.*		60		4,823
Perrigo Company plc		161		4,223
ManpowerGroup, Inc.		56		4,117
Lancaster Colony Corp.		23		4,061
Coty, Inc. — Class A*		430		4,038
Envista Holdings Corp.*		203		4,011
Neogen Corp.*		233		3,917
Amedisys, Inc.*		39		3,764
Insperity, Inc.		42		3,696
LivaNova plc*		64		3,363
Graham Holdings Co. — Class B		4		3,287
Sotera Health Co.*		180		3,006
Boston Beer Company, Inc. — Class A*		10		2,891
Arrowhead Pharmaceuticals, Inc.*		147		2,847
Enovis Corp.*		66		2,841
Azenta, Inc.*		58		2,810
R1 RCM, Inc.*		184		2,607
Pilgrim's Pride Corp.*		48		2,211
Avis Budget Group, Inc.		20		1,752
Total Consumer, Non-cyclical				575,390
Consumer, Cyclical - 12.6%
Williams-Sonoma, Inc.		152		23,548
Watsco, Inc.		41		20,167
Burlington Stores, Inc.*		74		19,498
Toll Brothers, Inc.		121		18,693
Casey's General Stores, Inc.		44		16,531
Floor & Decor Holdings, Inc. — Class A*		126		15,645
Wingstop, Inc.		35		14,563
Dick's Sporting Goods, Inc.		68		14,192
Texas Roadhouse, Inc. — Class A		79		13,951
BJ's Wholesale Club Holdings, Inc.*		157		12,949
Aramark		311		12,045
Churchill Downs, Inc.		87		11,763
Tempur Sealy International, Inc.		205		11,193
Murphy USA, Inc.		22		10,843
GameStop Corp. — Class A*		458		10,502
Skechers USA, Inc. — Class A*		156		10,440
Lithia Motors, Inc. — Class A		32		10,164
Crocs, Inc.*		70		10,137
Core & Main, Inc. — Class A*		228		10,123
TKO Group Holdings, Inc.*		78		9,649
Light & Wonder, Inc. — Class A*		105		9,527
WESCO International, Inc.		53		8,903
American Airlines Group, Inc.*		775		8,711
Taylor Morrison Home Corp. — Class A*		123		8,642

Abercrombie & Fitch Co. — Class A*	60	8,394
Planet Fitness, Inc. — Class A*	100	8,122
Gentex Corp.	272	8,076
Hyatt Hotels Corp. — Class A	53	8,067
Autoliv, Inc.	86	8,030
Vail Resorts, Inc.	44	7,669
Mattel, Inc.*	401	7,639
KB Home	85	7,284
Wyndham Hotels & Resorts, Inc.	93	7,267
Lear Corp.	66	7,204
Ollie's Bargain Outlet Holdings, Inc.*	72	6,998
Whirlpool Corp.	65	6,955
Thor Industries, Inc.	63	6,923
PVH Corp.	66	6,655
Brunswick Corp.	78	6,538
RH*	18	6,020
Capri Holdings Ltd.*	139	5,899
Gap, Inc.	261	5,755
Five Below, Inc.*	65	5,743
AutoNation, Inc.*	31	5,547
Harley-Davidson, Inc.	140	5,394
Dolby Laboratories, Inc. — Class A	70	5,357
FirstCash Holdings, Inc.	46	5,281
Boyd Gaming Corp.	81	5,237
Warner Music Group Corp. — Class A	167	5,227
Polaris, Inc.	62	5,161
Macy's, Inc.	326	5,115
MSC Industrial Direct Company, Inc. — Class A	53	4,561
Scotts Miracle-Gro Co. — Class A	50	4,335
YETI Holdings, Inc.*	100	4,103
Travel + Leisure Co.	82	3,778
Penske Automotive Group, Inc.	22	3,573
Wendy's Co.	201	3,522
Choice Hotels International, Inc.1	27	3,518
Columbia Sportswear Co.	39	3,244
Visteon Corp.*	33	3,143
Goodyear Tire & Rubber Co.*	336	2,973
Carter's, Inc.	43	2,794
Marriott Vacations Worldwide Corp.	38	2,792
Hilton Grand Vacations, Inc.*	75	2,724
Nordstrom, Inc.	114	2,564
Under Armour, Inc. — Class A*	223	1,987
Under Armour, Inc. — Class C*	153	1,279
Total Consumer, Cyclical		540,826
Technology - 6.6%
Manhattan Associates, Inc.*	72	20,259
Dynatrace, Inc.*	352	18,822
Pure Storage, Inc. — Class A*	365	18,338
CACI International, Inc. — Class A*	26	13,119
Duolingo, Inc.*	44	12,409
Onto Innovation, Inc.*	58	12,039
KBR, Inc.	157	10,225

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 80.2% (continued)
Technology - 6.6% (continued)
Lattice Semiconductor Corp.*		163	$	8,651
MKS Instruments, Inc.		79		8,588
Science Applications International Corp.		60		8,356
CommVault Systems, Inc.*		52		8,000
Cirrus Logic, Inc.*		63		7,825
Genpact Ltd.		193		7,568
MACOM Technology Solutions Holdings, Inc.*		68		7,566
Aspen Technology, Inc.*		31		7,403
ExlService Holdings, Inc.*		190		7,248
Dropbox, Inc. — Class A*		280		7,120
Altair Engineering, Inc. — Class A*		70		6,686
Maximus, Inc.		71		6,614
Doximity, Inc. — Class A*		148		6,448
Appfolio, Inc. — Class A*		27		6,356
Kyndryl Holdings, Inc.*		273		6,274
Parsons Corp.*		55		5,702
Qualys, Inc.*		43		5,524
Rambus, Inc.*		127		5,362
Lumentum Holdings, Inc.*		80		5,070
ASGN, Inc.*		53		4,941
Silicon Laboratories, Inc.*		38		4,392
Power Integrations, Inc.		67		4,296
Allegro MicroSystems, Inc.*		183		4,264
Amkor Technology, Inc.		134		4,100
Blackbaud, Inc.*		47		3,980
Synaptics, Inc.*		47		3,646
ZoomInfo Technologies, Inc. — Class A*		341		3,519
Teradata Corp.*		113		3,429
Crane NXT Co.		58		3,254
Concentrix Corp.		56		2,870
IPG Photonics Corp.*		32		2,378
Total Technology				282,641
Energy - 4.0%
Texas Pacific Land Corp.		22		19,464
Ovintiv, Inc.		312		11,953
Chesapeake Energy Corp.1		132		10,857
Permian Resources Corp.		749		10,194
Antero Resources Corp.*		345		9,884
Chord Energy Corp.		73		9,507
Southwestern Energy Co.*		1,302		9,257
DT Midstream, Inc.		115		9,046
Range Resources Corp.		286		8,797
HF Sinclair Corp.		191		8,513
NOV, Inc.		465		7,426
Weatherford International plc		86		7,303
ChampionX Corp.		225		6,784
Matador Resources Co.		137		6,771
Antero Midstream Corp.		398		5,990
CNX Resources Corp.*		178		5,797
Murphy Oil Corp.		167		5,635
Civitas Resources, Inc.		107		5,422
Viper Energy, Inc.		120		5,413
Valaris Ltd.*		79		4,404
PBF Energy, Inc. — Class A		118		3,652
Total Energy				172,069
Basic Materials - 3.2%
Reliance, Inc.		65		18,799

RPM International, Inc.	152	18,392
Alcoa Corp.	305	11,767
Royal Gold, Inc.	78	10,943
Axalta Coating Systems Ltd.*	259	9,373
United States Steel Corp.	264	9,327
Commercial Metals Co.	136	7,474
Cabot Corp.	65	7,265
Cleveland-Cliffs, Inc.*	552	7,049
Olin Corp.	139	6,669
Westlake Corp.	39	5,861
Avient Corp.	108	5,435
Ashland, Inc.	58	5,044
NewMarket Corp.	9	4,967
Arcadium Lithium plc*	1,269	3,617
Chemours Co.	176	3,577
Total Basic Materials		135,559
Utilities - 2.1%
Essential Utilities, Inc.	297	11,455
OGE Energy Corp.	237	9,722
National Fuel Gas Co.	108	6,546
IDACORP, Inc.	63	6,495
UGI Corp.	253	6,330
Portland General Electric Co.	122	5,844
New Jersey Resources Corp.	117	5,522
Southwest Gas Holdings, Inc.	71	5,237
Black Hills Corp.	82	5,012
ONE Gas, Inc.	67	4,986
Ormat Technologies, Inc.	63	4,847
TXNM Energy, Inc.	107	4,683
Spire, Inc.	68	4,576
ALLETE, Inc.	68	4,365
Northwestern Energy Group, Inc.	72	4,120
Total Utilities		89,740
Communications - 1.0%
New York Times Co. — Class A	193	10,744
Ciena Corp.*	170	10,470
Frontier Communications Parent, Inc.*	261	9,274
Nexstar Media Group, Inc. — Class A	36	5,953
Iridium Communications, Inc.	140	4,263
Total Communications		40,704
Total Common Stocks
(Cost $2,248,454)		3,434,439
MUTUAL FUNDS† - 5.6%
Guggenheim Ultra Short Duration Fund — Institutional Class2	15,965	159,971
Guggenheim Strategy Fund II2	3,259	80,811
Total Mutual Funds
(Cost $231,938)		240,782

	Face Amount
U.S. TREASURY BILLS†† - 2.0%
U.S. Treasury Bills
4.85% due 12/12/243,4	$	50,000	49,553

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Face Amount		Value
U.S. TREASURY BILLS†† - 2.0% (continued)
4.63% due 10/10/244,5	$	35,000	$	34,959
Total U.S. Treasury Bills
(Cost $84,470)				84,512
REPURCHASE AGREEMENTS††,6 - 11.6%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/243		273,158		273,158
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/243		225,616		225,616
Total Repurchase Agreements
(Cost $498,774)				498,774

	Shares
SECURITIES LENDING COLLATERAL†,7 - 0.3%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%8		11,076		11,076
Total Securities Lending Collateral
(Cost $11,076)				11,076
Total Investments - 99.7%
(Cost $3,074,712)			$	4,269,583
Other Assets & Liabilities, net - 0.3%				13,871
Total Net Assets - 100.0%			$	4,283,454

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
S&P MidCap 400 Index Mini Futures Contracts		2	Dec 2024	$	629,880	$	16,578

Total Return Swap Agreements
Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements††
Goldman Sachs International	S&P MidCap 400 Index	Pay	5.08% (Federal Funds Rate + 0.25%)	At Maturity	12/18/24		408	$	1,272,989	$	12,992
BNP Paribas	S&P MidCap 400 Index	Pay	5.38% (Federal Funds Rate + 0.55%)	At Maturity	12/19/24		71		220,324		2,322
Barclays Bank plc	S&P MidCap 400 Index	Pay	5.39% (SOFR + 0.55%)	At Maturity	12/19/24		281		878,647		846
								$	2,371,960	$	16,160

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Affiliated issuer.
3	All or a portion of this security is pledged as equity index swap collateral at September 30, 2024.

4	Rate indicated is the effective yield at the time of purchase.
5	All or a portion of this security is pledged as futures collateral at September 30, 2024.
6	Repurchase Agreements — See Note 4.
7	Securities lending collateral — See Note 5.
8	Rate indicated is the 7-day yield as of September 30, 2024.

plc — Public Limited Company

REIT — Real Estate Investment Trust

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

Mid-Cap 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	3,434,439	$	—	$	—	$	3,434,439
Mutual Funds		240,782		—		—		240,782
U.S. Treasury Bills		—		84,512		—		84,512
Repurchase Agreements		—		498,774		—		498,774
Securities Lending Collateral		11,076		—		—		11,076
Equity Futures Contracts**		16,578		—		—		16,578
Equity Index Swap Agreements**		—		16,160		—		16,160
Total Assets	$	3,702,875	$	599,446	$	—	$	4,302,321

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

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows:
Security Name	Value 12/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	79,834	$	–	$	–	$	–	$	977	$	80,811		3,259	$	3,422
Guggenheim Ultra Short Duration Fund — Institutional Class		157,257		–		–		–		2,714		159,971		15,965		6,173
	$	237,091	$	–	$	–	$	–	$	3,691	$	240,782			$	9,595

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 45.9%
Consumer, Non-cyclical - 12.7%
Amedisys, Inc.*,1		7,418	$	715,911
Catalent, Inc.*,1		11,735		710,789
Axonics, Inc.*		6,811		474,046
Aaron's Company, Inc.		46,260		460,287
Surmodics, Inc.*		10,987		426,076
R1 RCM, Inc.*		27,873		394,961
Sterling Check Corp.*,1		20,795		347,692
PetIQ, Inc.*		10,471		322,193
Revance Therapeutics, Inc.*		57,356		297,677
Kellanova		2,755		222,356
Vector Group Ltd.		7,289		108,752
Exscientia plc ADR*,2		19,942		97,317
Total Consumer, Non-cyclical				4,578,057
Consumer, Cyclical - 7.5%
Capri Holdings Ltd.*,1		28,600		1,213,784
Chuy's Holdings, Inc.*		12,018		449,473
Vizio Holding Corp. – Class A*		39,715		443,617
Everi Holdings, Inc.*,1		26,649		350,168
Bally's Corp.*		15,390		265,477
Total Consumer, Cyclical				2,722,519
Energy - 5.1%
Hess Corp.1		4,023		546,323
Southwestern Energy Co.*		64,535		458,844
ChampionX Corp.		14,837		447,336
Marathon Oil Corp.		12,873		342,808
Total Energy				1,795,311
Communications - 5.0%
Juniper Networks, Inc.1		14,233		554,802
Infinera Corp.*,1		55,778		376,502
Endeavor Group Holdings, Inc. – Class A1,2		12,499		356,972
Perficient, Inc.*		4,260		321,545
Frontier Communications Parent, Inc.*		3,064		108,864
Squarespace, Inc. – Class A*		1,413		65,605
Total Communications				1,784,290
Financial - 4.9%
Heartland Financial USA, Inc.1		10,762		610,205
Discover Financial Services		2,595		364,053
Enstar Group Ltd.*		703		226,078
First Bancshares, Inc.		6,885		221,215
Premier Financial Corp.		9,006		211,461
Independent Bank Group, Inc.		2,604		150,147
Total Financial				1,783,159
Technology - 4.9%
HashiCorp, Inc. – Class A*,1		16,300		551,918
PowerSchool Holdings, Inc. – Class A*		13,172		300,453
Envestnet, Inc.*		4,664		292,060
Thoughtworks Holding, Inc.*		51,668		228,373
ANSYS, Inc.*,1		709		225,909
PlayAGS, Inc.*,1		16,147		183,914
Total Technology				1,782,627
Industrial - 2.4%
Stericycle, Inc.*		7,918		482,998
Spirit AeroSystems Holdings, Inc. – Class A*,1		10,192		331,342
Iteris, Inc.*		9,093		64,924
Total Industrial				879,264
Utilities - 2.0%
ALLETE, Inc.1		5,779		370,954
Atlantica Sustainable Infrastructure plc		16,454		361,659
Total Utilities				732,613
Basic Materials - 1.4%
Haynes International, Inc.1		8,864		527,763
Total Common Stocks
(Cost $16,619,499)				16,585,603
RIGHTS††† - 0.0%
Consumer, Non-cyclical - 0.0%
Bristol-Myers Squibb Co.*		5,897		–
Johnson & Johnson*		1,553		–
Novartis AG*		4,974		–
Total Consumer, Non-cyclical				–
Total Rights
(Cost $1,940)				–
MUTUAL FUNDS† - 18.9%
Guggenheim Strategy Fund III3		99,249		2,470,305
Guggenheim Variable Insurance Strategy Fund III3		86,555		2,152,624
Guggenheim Strategy Fund II3		67,185		1,666,184
Guggenheim Ultra Short Duration Fund – Institutional Class3		54,685		547,942
Total Mutual Funds
(Cost $6,865,317)				6,837,055
CLOSED-END FUNDS***,† - 6.9%
Virtus Total Return Fund, Inc.		10,978		68,064
BlackRock MuniHoldings California Quality Fund, Inc.		5,800		66,816
Western Asset Inflation-Linked Opportunities & Income Fund		7,528		66,548
Nuveen Dow 30sm Dynamic Overwrite Fund		4,431		65,800
BlackRock Enhanced Global Dividend Trust		5,834		65,691
BlackRock Municipal 2030 Target Term Trust		3,034		65,595
Allspring Global Dividend Opportunity Fund		12,886		64,559
Clough Global Equity Fund		9,301		64,541
Tri-Continental Corp.		1,902		62,842
General American Investors Company, Inc.		1,165		62,456
Gabelli Dividend & Income Trust		2,549		62,323
SRH Total Return Fund, Inc.		3,865		61,067
BlackRock Enhanced International Dividend Trust		10,267		59,549
Gabelli Healthcare & WellnessRx Trust		4,753		52,045
Mexico Fund, Inc.		3,442		51,940
Royce Micro-Capital Trust, Inc.		5,221		50,174
Ellsworth Growth and Income Fund Ltd.		5,107		45,912
abrdn Total Dynamic Dividend Fund		4,974		45,263

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
CLOSED-END FUNDS***,† - 6.9% (continued)
BlackRock MuniHoldings New Jersey Quality Fund, Inc.		3,684	$	44,687
abrdn Global Dynamic Dividend Fund		3,916		41,588
abrdn Japan Equity Fund, Inc.		6,364		39,775
abrdn Emerging Markets Equity Income Fund, Inc.		6,781		38,211
Bancroft Fund Ltd.		2,219		37,213
BlackRock MuniHoldings New York Quality Fund, Inc.		3,276		36,560
BNY Mellon Strategic Municipals, Inc.		4,355		28,351
BNY Mellon Municipal Bond Infrastructure Fund, Inc.		2,471		27,576
Royce Small-Capital Trust, Inc.		1,634		25,654
New Germany Fund, Inc.		2,726		24,343
Swiss Helvetia Fund, Inc.		2,503		22,402
John Hancock Hedged Equity & Income Fund		1,895		20,788
abrdn Life Sciences Investors		1,276		19,242
Western Asset Inflation-Linked Income Fund		2,198		18,793
Voya Emerging Markets High Dividend Equity Fund		3,061		17,463
BlackRock MuniYield Michigan Quality Fund, Inc.		1,418		17,030
Sprott Focus Trust, Inc.		2,057		15,880
Templeton Emerging Markets Fund/United States		1,163		15,747
abrdn National Municipal Income Fund		1,258		14,052
MFS Municipal Income Trust		2,290		13,099
Gabelli Global Small and Mid Capital Value Trust		913		11,330
abrdn Healthcare Investors		579		10,781
Herzfeld Caribbean Basin Fund, Inc.		4,740		10,712
Nuveen Quality Municipal Income Fund		829		10,263
GAMCO Natural Resources Gold & Income Trust		1,650		9,686
European Equity Fund, Inc.		1,029		9,652
Franklin Universal Trust		1,163		8,792
Flaherty & Crumrine Preferred and Income Opportunity Fund, Inc.		863		8,121
John Hancock Tax-Advantaged Dividend Income Fund		347		8,057
Virtus Convertible & Income Fund II		2,578		8,018
Nuveen Real Asset Income and Growth Fund		585		7,997
Eaton Vance Tax Managed Global Buy Write Opportunities Fund		917		7,960
Putnam Municipal Opportunities Trust		726		7,913
Eaton Vance Tax-Managed Global Diversified Equity Income Fund		907		7,909
Virtus Convertible & Income Fund		2,249		7,871
Invesco Advantage Municipal Income Trust II		845		7,867
Invesco Quality Municipal Income Trust		753		7,861
Nuveen Municipal Credit Income Fund		600		7,860
BlackRock MuniYield Quality Fund III, Inc.		655		7,860
Western Asset Emerging Markets Debt Fund, Inc.		772		7,859
Eaton Vance Tax-Advantaged Global Dividend Income Fund		404		7,854
Nuveen AMT-Free Quality Municipal Income Fund		656		7,852
Nuveen AMT-Free Municipal Credit Income Fund		586		7,847
DWS Municipal Income Trust		787		7,846
Eaton Vance Municipal Bond Fund		728		7,833
Nuveen New Jersey Quality Municipal Income Fund		600		7,824
Nuveen New York Quality Municipal Income Fund		663		7,817
BlackRock California Municipal Income Trust		646		7,810
Eaton Vance Risk-Managed Diversified Equity Income Fund		848		7,810
Nuveen S&P 500 Buy-Write Income Fund		569		7,807
Invesco Municipal Opportunity Trust		760		7,805
Eaton Vance Tax-Advantaged Dividend Income Fund		316		7,802
Blackrock Science & Technology Trust		220		7,797
Invesco Municipal Trust		759		7,787
Nuveen NASDAQ 100 Dynamic Overwrite Fund		310		7,787
BlackRock Municipal Income Fund, Inc.		619		7,787
Nuveen Real Estate Income Fund		837		7,784
BlackRock MuniHoldings Fund, Inc.		615		7,780
Invesco Trust for Investment Grade Municipals		736		7,772
Invesco Value Municipal Income Trust		603		7,767
Nuveen New York AMT-Free Quality Municipal Income Fund		693		7,762
BlackRock MuniYield Fund, Inc.		679		7,761
BlackRock Enhanced Capital and Income Fund, Inc.		394		7,758
Nuveen California Quality Municipal Income Fund		652		7,752
BlackRock Enhanced Equity Dividend Trust		896		7,750
Western Asset Managed Municipals Fund, Inc.		714		7,740

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
CLOSED-END FUNDS***,† - 6.9% (continued)
Allspring Multi-Sector Income Fund		806	$	7,721
BlackRock Health Sciences Trust		183		7,673
Franklin Limited Duration Income Trust2		1,150		7,671
BlackRock MuniYield New York Quality Fund, Inc.		698		7,524
Eaton Vance Tax-Managed Buy-Write Income Fund		512		7,388
BlackRock Municipal Income Trust		691		7,304
BlackRock Municipal Income Trust II		645		7,263
Eaton Vance National Municipal Opportunities Trust		392		7,036
BlackRock Municipal Income Quality Trust		568		6,839
Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund		256		6,794
Nuveen Pennsylvania Quality Municipal Income Fund		532		6,714
PIMCO New York Municipal Income Fund II		850		6,707
Invesco Dynamic Credit Opportunity Fund		608		6,666
BNY Mellon Municipal Income, Inc.		909		6,645
Nuveen Global High Income Fund		492		6,583
BNY Mellon Strategic Municipal Bond Fund, Inc.		1,041		6,485
BrandywineGLOBAL Global Income Opportunities Fund, Inc.		730		6,453
BlackRock MuniVest Fund, Inc.		845		6,422
BlackRock MuniVest Fund II, Inc.		555		6,321
BlackRock MuniHoldings Quality Fund II, Inc.		589		6,296
Nuveen S&P 500 Dynamic Overwrite Fund		375		6,293
Pioneer High Income Fund, Inc.		784		6,272
Royce Global Trust, Inc.		526		6,102
BlackRock New York Municipal Income Trust		554		6,094
Putnam Managed Municipal Income Trust		932		6,067
MFS Charter Income Trust		923		6,064
Flaherty & Crumrine Total Return Fund, Inc.		348		6,017
BlackRock MuniYield Quality Fund II, Inc.		543		5,875
Nuveen Arizona Quality Municipal Income Fund		495		5,851
Pioneer Diversified High Income Fund, Inc.		475		5,842
Nuveen Massachusetts Quality Municipal Income Fund		477		5,571
Pioneer Municipal High Income Advantage Fund, Inc.		626		5,534
Invesco Trust for Investment Grade New York Municipals		476		5,488
MFS Multimarket Income Trust		1,097		5,342
Eaton Vance New York Municipal Bond Fund		536		5,339
Pioneer Municipal High Income Fund Trust		556		5,338
Western Asset Intermediate Muni Fund, Inc.		648		5,314
Allspring Utilities and High Income Fund		473		5,279
Nuveen New York Municipal Value Fund		613		5,278
Principal Real Estate Income Fund		472		5,274
abrdn Australia Equity Fund, Inc.		1,102		5,190
BlackRock MuniYield Pennsylvania Quality Fund		409		5,112
Invesco Pennsylvania Value Municipal Income Trust		446		5,044
Nuveen Select Maturities Municipal Fund		537		4,973
MFS High Yield Municipal Trust		1,356		4,970
PIMCO New York Municipal Income Fund		598		4,963
MFS High Income Municipal Trust		1,229		4,922
Nuveen Missouri Quality Municipal Income Fund		437		4,823
MFS Investment Grade Municipal Trust		582		4,784
DTF Tax-Free Income 2028 Term Fund, Inc.		410		4,621
MFS Intermediate High Income Fund		2,562		4,560
Nuveen New York Select Tax-Free Income Portfolio		373		4,539
LMP Capital and Income Fund, Inc.		248		4,362
Duff & Phelps Utility and Infrastructure Fund, Inc.		369		4,332
Federated Hermes Premier Municipal Income Fund		347		4,310
abrdn Global Infrastructure Income Fund		213		4,304
Lazard Global Total Return and Income Fund, Inc.		237		4,299
Voya Infrastructure Industrials and Materials Fund		377		4,283
Voya Asia Pacific High Dividend Equity Income Fund		625		4,281
BNY Mellon High Yield Strategies Fund		1,585		4,264
Insight Select Income Fund		241		4,254
AllianceBernstein National Municipal Income Fund, Inc.		359		4,236
Flaherty & Crumrine Preferred and Income Securities Fund, Inc.		258		4,234

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
CLOSED-END FUNDS***,† - 6.9% (continued)
First Trust Specialty Finance and Financial Opportunities Fund		1,040	$	4,233
Nuveen Municipal Value Fund, Inc.		465		4,194
Liberty All Star Growth Fund, Inc.		746		4,185
Eaton Vance California Municipal Bond Fund		433		4,178
Allspring Income Opportunities Fund		584		4,164
Eaton Vance Municipal Income Trust		379		4,158
Blackstone Strategic Credit Fund		336		4,140
abrdn Healthcare Opportunities Fund		187		4,129
Neuberger Berman Municipal Fund, Inc.		371		4,122
Adams Diversified Equity Fund, Inc.		191		4,118
Voya Global Advantage and Premium Opportunity Fund		431		4,094
Eaton Vance California Municipal Income Trust		375		4,076
PIMCO California Municipal Income Fund		398		3,964
Virtus Dividend Interest & Premium Strategy Fund		284		3,703
High Income Securities Fund		539		3,681
Eaton Vance Tax-Managed Buy-Write Opportunities Fund		266		3,671
BlackRock Resources & Commodities Strategy Trust		381		3,658
Western Asset High Income Opportunity Fund, Inc.		901		3,649
Nuveen Floating Rate Income Fund		413		3,643
PGIM Global High Yield Fund, Inc.		285		3,642
Aberdeen Asia-Pacific Income Fund, Inc.*		209		3,637
Nuveen Multi-Asset Income Fund		275		3,636
ClearBridge Energy Midstream Opportunity Fund, Inc.		86		3,629
BlackRock Energy and Resources Trust		281		3,619
India Fund, Inc.		190		3,614
Neuberger Berman Energy Infrastructure and Income Fund, Inc.		438		3,592
Highland Opportunities and Income Fund		577		3,537
Saba Capital Income & Opportunities Fund		466		3,537
Barings Global Short Duration High Yield Fund		232		3,522
Clough Global Opportunities Fund		611		3,330
PIMCO New York Municipal Income Fund III		486		3,062
Western Asset Global High Income Fund, Inc.		405		2,811
Nuveen Multi-Market Income Fund		423		2,690
Templeton Emerging Markets Income Fund		457		2,664
Saba Capital Income & Opportunities Fund II		300		2,553
Special Opportunities Fund, Inc.		172		2,393
Flaherty & Crumrine Preferred & Income Fund, Inc.		190		2,270
Nuveen Mortgage and Income Fund		100		1,843
BlackRock Virginia Municipal Bond Trust		139		1,594
RiverNorth Capital and Income Fund		102		1,570
Highland Global Allocation Fund		196		1,541
Clough Global Dividend and Income Fund		162		954
John Hancock Investors Trust		65		914
John Hancock Income Securities Trust		78		907
Tortoise Energy Independence Fund, Inc.		1		33
Nuveen Intermediate Duration Municipal Term Fund*		403		–
Total Closed-End Funds
(Cost $2,231,202)				2,477,952

		Face Amount
U.S. TREASURY BILLS†† - 15.0%
U.S. Treasury Bills
4.63% due 10/10/244,5	$	2,888,000	2,884,646
5.12% due 10/24/245		2,540,000	2,532,337
Total U.S. Treasury Bills
(Cost $5,415,906)			5,416,983
REPURCHASE AGREEMENTS††,6 - 8.3%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24		1,641,706	1,641,706
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		1,355,973	1,355,973
Total Repurchase Agreements
(Cost $2,997,679)			2,997,679

	Shares
SECURITIES LENDING COLLATERAL†,7 - 0.4%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%8	155,907		155,907
Total Securities Lending Collateral
(Cost $155,907)			155,907
Total Investments - 95.4%
(Cost $34,287,450)		$	34,471,179

	Shares
COMMON STOCKS SOLD SHORT† - (11.5)%
Technology - (0.3)%
Synopsys, Inc.*	245	(124,066	)

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS SOLD SHORT† - (11.5)% (continued)
Communications - (0.4)%
Nokia Oyj ADR		29,869	$	(130,528	)
Industrial - (0.5)%
Boeing Co.*		1,260		(191,571	)
Consumer, Non-cyclical - (0.6)%
Recursion Pharmaceuticals, Inc. – Class A*		15,413		(101,572	)
First Advantage Corp.*		5,694		(113,026	)
Total Consumer, Non-cyclical				(214,598	)
Financial - (4.4)%
SouthState Corp.		1,562		(151,795	)
WesBanco, Inc.		7,205		(214,565	)
Renasant Corp.		6,885		(223,763	)
Capital One Financial Corp.		2,645		(396,036	)
UMB Financial Corp.		5,919		(622,146	)
Total Financial				(1,608,305	)
Energy - (5.3)%
Equities Corp.		1		(37	)
ConocoPhillips		3,283		(345,634	)
Schlumberger N.V.		10,905		(457,465	)
Chesapeake Energy Corp.		5,595		(460,189	)
Chevron Corp.		4,124		(607,341	)
Total Energy				(1,870,666	)
Total Common Stocks Sold Short
(Proceeds $4,085,478)				(4,139,734	)
EXCHANGE-TRADED FUNDS SOLD SHORT† - (6.5)%
iShares Mortgage Real Estate ETF		12		(285	)
iShares MBS ETF		6		(575	)
Financial Select Sector SPDR Fund		26		(1,178	)
Technology Select Sector SPDR Fund		12		(2,709	)
iShares JP Morgan USD Emerging Markets Bond ETF		41		(3,837	)
VanEck Gold Miners ETF		106		(4,221	)
Materials Select Sector SPDR Fund		53		(5,108	)
iShares U.S. Real Estate ETF		56		(5,704	)
SPDR Gold Shares – Class D*		29		(7,049	)
SPDR S&P Biotech ETF		78		(7,706	)
Utilities Select Sector SPDR Fund		115		(9,290	)
iShares iBoxx $ Investment Grade Corporate Bond ETF		87		(9,829	)
iShares MSCI All Country Asia ex Japan ETF		152		(11,924	)
Invesco Senior Loan ETF		568		(11,934	)
iShares Preferred & Income Securities ETF		379		(12,594	)
iShares Floating Rate Bond ETF		286		(14,597	)
iShares 7-10 Year Treasury Bond ETF		175		(17,171	)
iShares Latin America 40 ETF		957		(24,796	)
Schwab U.S. Aggregate Bond ETF		559		(26,564	)
iShares Core High Dividend ETF		335		(39,403	)
iShares iBoxx High Yield Corporate Bond ETF		641		(51,472	)
iShares Russell 1000 Growth ETF		147		(55,181	)
Health Care Select Sector SPDR Fund		375		(57,758	)
iShares MSCI Emerging Markets ETF		1,293		(59,297	)
VanEck High Yield Muni ETF		1,372		(72,812	)
iShares TIPS Bond ETF		738		(81,527	)
SPDR Bloomberg Convertible Securities ETF		1,297		(99,337	)
iShares Russell 2000 Index ETF		588		(129,883	)
SPDR S&P 500 ETF Trust		343		(196,800	)
SPDR Nuveen Bloomberg High Yield Municipal Bond ETF		7,807		(205,090	)
iShares National Muni Bond ETF		2,007		(218,020	)
iShares Russell 1000 Value ETF		1,266		(240,287	)
SPDR Nuveen Bloomberg Municipal Bond ETF		7,085		(331,791	)
iShares MSCI EAFE ETF		4,182		(349,741	)
Total Exchange-Traded Funds Sold Short
(Proceeds $2,303,486)				(2,365,470	)
Total Securities Sold Short - (18.0)%
(Proceeds $6,388,964)			$	(6,505,204	)
Other Assets & Liabilities, net - 22.6%				8,172,972
Total Net Assets - 100.0%			$	36,138,947

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation (Depreciation)**
Commodity Futures Contracts Purchased†
Sugar #11 Futures Contracts		102	Jun 2025	$	2,307,648	$	267,133
Cotton #2 Futures Contracts		65	Dec 2024		2,390,050		120,715
Natural Gas Futures Contracts		32	Oct 2024		929,920		88,878
Gold 100 oz. Futures Contracts		1	Dec 2024		265,290		22,567
Cattle Feeder Futures Contracts		3	Nov 2024		367,538		16,479
Coffee 'C' Futures Contracts		11	May 2025		1,100,137		10,512
Cocoa Futures Contracts		1	Dec 2024		77,360		7,687
Low Sulphur Gas Oil Futures Contracts		3	Nov 2024		196,650		7,495

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation (Depreciation)**
Commodity Futures Contracts Purchased† (continued)
LME Zinc Futures Contracts		2	Nov 2024	$	154,158	$	7,364
WTI Crude Futures Contracts		4	Oct 2024		272,920		6,510
Brent Crude Futures Contracts		4	Oct 2024		287,080		6,393
Live Cattle Futures Contracts		4	Dec 2024		295,840		6,277
Copper Futures Contracts		1	Dec 2024		113,713		5,009
LME Primary Aluminum Futures Contracts		1	Nov 2024		65,035		(809	)
Silver Futures Contracts		1	Dec 2024		157,150		(2,943	)
Gasoline RBOB Futures Contracts		2	Oct 2024		162,372		(4,255	)
Low Sulphur Gas Oil Futures Contracts		37	Dec 2024		2,411,475		(7,461	)
Gasoline RBOB Futures Contracts		29	Nov 2024		2,320,290		(60,613	)
				$	13,874,626	$	496,938
Currency Futures Contracts Purchased†
New Zealand Dollar Futures Contracts		52	Dec 2024	$	3,304,340	$	101,590
British Pound Futures Contracts		53	Dec 2024		4,428,813		90,878
Australian Dollar Futures Contracts		15	Dec 2024		1,038,075		15,073
Canadian Dollar Futures Contracts		5	Dec 2024		370,475		(73	)
Japanese Yen Futures Contracts		38	Dec 2024		3,338,300		(25,849	)
				$	12,480,003	$	181,619
Interest Rate Futures Contracts Purchased†
Euro - BTP Italian Government Bond Futures Contracts††		17	Dec 2024	$	2,298,096	$	43,358
Euro - Bund Futures Contracts		23	Dec 2024		3,455,507		30,784
Euro - OATS Futures Contracts		39	Dec 2024		5,513,164		25,442
Canadian Government 10 Year Bond Futures Contracts††		11	Dec 2024		1,013,825		3,226
Euro - 30 year Bond Futures Contracts		1	Dec 2024		151,821		1,368
U.S. Treasury Ultra Long Bond Futures Contracts		1	Dec 2024		133,281		114
U.S. Treasury Long Bond Futures Contracts		2	Dec 2024		248,750		81
U.S. Treasury 10 Year Note Futures Contracts		1	Dec 2024		114,375		(38	)
				$	12,928,819	$	104,335
Equity Futures Contracts Purchased†
CBOE Volatility Index Futures Contracts		30	Nov 2024	$	543,000	$	11,840
SPI 200 Index Futures Contracts		3	Dec 2024		429,327		7,822
IBEX 35 Index Futures Contracts††		2	Oct 2024		264,207		6,651
S&P/TSX 60 IX Index Futures Contracts		1	Dec 2024		213,520		5,965
OMX Stockholm 30 Index Futures Contracts††		3	Oct 2024		77,952		2,124
Euro STOXX 50 Index Futures Contracts		1	Dec 2024		56,142		2,064
FTSE 100 Index Futures Contracts		2	Dec 2024		222,213		722
NASDAQ-100 Index Mini Futures Contracts		2	Dec 2024		810,830		309
Dow Jones Industrial Average Index Mini Futures Contracts		5	Dec 2024		1,066,300		231
S&P 500 Index Mini Futures Contracts		3	Dec 2024		872,400		157
Russell 2000 Index Mini Futures Contracts		6	Dec 2024		674,940		123
CBOE Volatility Index Futures Contracts		96	Dec 2024		1,725,120		(5,422	)
				$	6,955,951	$	32,586
Interest Rate Futures Contracts Sold Short†
Long Gilt Futures Contracts††		30	Dec 2024	$	3,948,097	$	20,508
Australian Government 10 Year Bond Futures Contracts		57	Dec 2024		4,584,517		5,176
				$	8,532,614	$	25,684
Currency Futures Contracts Sold Short†
Swiss Franc Futures Contracts		61	Dec 2024	$	9,085,950	$	3,951

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation (Depreciation)**
Equity Futures Contracts Sold Short†
CBOE Volatility Index Futures Contracts		35	Jan 2025	$	651,000	$	(5,640	)
CBOE Volatility Index Futures Contracts		59	Oct 2024		1,112,150		(12,280	)
				$	1,763,150	$	(17,920	)
Commodity Futures Contracts Sold Short†
Gasoline RBOB Futures Contracts		30	Dec 2024	$	2,389,716	$	54,860
Soybean Futures Contracts		11	Nov 2024		581,213		49,740
Low Sulphur Gas Oil Futures Contracts		39	Jan 2025		2,542,800		9,686
Soybean Oil Futures Contracts		15	Dec 2024		389,790		3,013
Lean Hogs Futures Contracts		3	Dec 2024		87,960		(729	)
LME Lead Futures Contracts		3	Nov 2024		155,945		(4,847	)
Coffee 'C' Futures Contracts		7	Dec 2024		714,263		(7,897	)
NY Harbor ULSD Futures Contracts		5	Oct 2024		452,907		(10,807	)
Corn Futures Contracts		28	Dec 2024		593,600		(13,207	)
LME Nickel Futures Contracts		2	Nov 2024		208,986		(14,678	)
Hard Red Winter Wheat Futures Contracts		18	Dec 2024		525,600		(16,944	)
Soybean Meal Futures Contracts		15	Dec 2024		511,800		(17,934	)
Wheat Futures Contracts		17	Dec 2024		495,975		(21,104	)
Natural Gas Futures Contracts		12	Dec 2024		430,320		(27,871	)
Natural Gas Futures Contracts		42	Nov 2024		1,397,340		(69,047	)
Cotton #2 Futures Contracts		81	May 2025		3,097,035		(151,674	)
Sugar #11 Futures Contracts		54	Feb 2025		1,362,614		(191,186	)
				$	15,937,864	$	(430,626	)

Custom Basket Swap Agreements

Counterparty	Reference Obligation	Type	Financing Rate	Payment Frequency	Maturity Date	Notional Amount		Value and Unrealized Appreciation (Depreciation)
OTC Custom Basket Swap Agreements††
Morgan Stanley Capital Services LLC	MS Equity Market Neutral Custom Basket	Pay	5.23% (Federal Funds Rate + 0.40%)	At Maturity	08/31/28	$	5,931,348	$	611,782
Morgan Stanley Capital Services LLC	MS Long/Short Equity Custom Basket	Pay	5.23% (Federal Funds Rate + 0.40%)	At Maturity	08/31/28		4,811,567		596,368
Goldman Sachs International	GS Long/Short Equity Custom Basket	Pay	5.28% (Federal Funds Rate + 0.45%)	At Maturity	05/16/28		4,811,561		581,596
Goldman Sachs International	GS Equity Market Neutral Custom Basket	Pay	5.28% (Federal Funds Rate + 0.45%)	At Maturity	05/16/28		5,931,348		579,543
						$	21,485,824	$	2,369,289
OTC Custom Basket Swap Agreements Sold Short††
Goldman Sachs International	GS Long/Short Equity Custom Basket	Receive	4.56% (Federal Funds Rate - 0.26%)	At Maturity	05/16/28	$	2,625,338	$	(84,727	)

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Counterparty	Reference Obligation	Type	Financing Rate	Payment Frequency	Maturity Date	Notional Amount		Value and Unrealized Appreciation (Depreciation)
OTC Custom Basket Swap Agreements Sold Short†† (continued)
Morgan Stanley Capital Services LLC	MS Long/Short Equity Custom Basket	Receive	4.48% (Federal Funds Rate - 0.35%)	At Maturity	08/31/28	$	2,625,344	$	(90,569	)
Goldman Sachs International	GS Equity Market Neutral Custom Basket	Receive	4.63% (Federal Funds Rate - 0.20%)	At Maturity	05/16/28		5,951,630		(316,820	)
Morgan Stanley Capital Services LLC	MS Equity Market Neutral Custom Basket	Receive	4.52% (Federal Funds Rate - 0.31%)	At Maturity	08/31/28		5,950,474		(615,942	)
						$	17,152,786	$	(1,108,058	)

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

MS EQUITY MARKET NEUTRAL  LONG CUSTOM BASKET
	Shares	Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Financial
Vornado Realty Trust	5,386	3.58	%	$	81,098
Kimco Realty Corp.	10,316	4.04	%		64,182
Kilroy Realty Corp.	9,985	6.51	%		54,816
VICI Properties, Inc.	9,907	5.56	%		49,009
Kite Realty Group Trust	9,638	4.32	%		43,576
Sabra Health Care REIT, Inc.	8,743	2.74	%		41,752
Invitation Homes, Inc.	10,486	6.23	%		37,964
CareTrust REIT, Inc.	3,526	1.83	%		37,824
Digital Realty Trust, Inc.	721	1.97	%		31,833
Alexandria Real Estate Equities, Inc.	2,093	4.19	%		24,522
American Homes 4 Rent — Class A	4,866	3.15	%		23,001
Ryman Hospitality Properties, Inc.	976	1.76	%		22,460
InvenTrust Properties Corp.	4,466	2.14	%		20,789
Tanger, Inc.	3,340	1.87	%		19,048
EPR Properties	2,546	2.11	%		14,889
SBA Communications Corp.	458	1.86	%		13,082
National Storage Affiliates Trust	2,271	1.85	%		10,884
WP Carey, Inc.	1,930	2.03	%		10,742
NNN REIT, Inc.	3,409	2.79	%		5,087
UDR, Inc.	3,730	2.85	%		4,685
Apple Hospitality REIT, Inc.	14,475	3.62	%		4,129
STAG Industrial, Inc.	5,548	3.66	%		3,468
Extra Space Storage, Inc.	605	1.84	%		2,724
Simon Property Group, Inc.	646	1.84	%		1,586
Prologis, Inc.	1,735	3.69	%		1,505
RLJ Lodging Trust	6,131	0.95	%		745
American Tower Corp. — Class A	467	1.83	%		677
Gaming and Leisure Properties, Inc.	3,209	2.78	%		515
Healthcare Realty Trust, Inc.	11,949	3.66	%		(72	)
Alexander & Baldwin, Inc.	2,782	0.90	%		(1,323	)
Essex Property Trust, Inc.	1,117	5.56	%		(2,931	)
NETSTREIT Corp.	6,689	1.86	%		(3,268	)
Park Hotels & Resorts, Inc.	18,615	4.43	%		(7,216	)
Total Financial					611,782
Total MS Equity Market Neutral  Long Custom Basket				$	611,782
MS EQUITY MARKET NEUTRAL  SHORT CUSTOM BASKET
Service Properties Trust	10,607	(0.81	)%		38,702
Pebblebrook Hotel Trust	11,999	(2.67	)%		15,729
Host Hotels & Resorts, Inc.	5,928	(1.75	)%		3,293
LXP Industrial Trust	8,009	(1.35	)%		2,005
Americold Realty Trust, Inc.	2,478	(1.18	)%		598
Rexford Industrial Realty, Inc.	1,387	(1.17	)%		548
Equity LifeStyle Properties, Inc.	1,518	(1.82	)%		538
EastGroup Properties, Inc.	380	(1.19	)%		341
Orion Office REIT, Inc.	0	0.00	%		4
Cousins Properties, Inc.	3,652	(1.81	)%		(21	)
Independence Realty Trust, Inc.	1,568	(0.54	)%		(105	)
Getty Realty Corp.	2,439	(1.30	)%		(704	)
Global Net Lease, Inc.	7,047	(1.00	)%		(1,151	)
Sun Communities, Inc.	799	(1.81	)%		(1,379	)
Regency Centers Corp.	1,546	(1.88	)%		(3,188	)
JBG SMITH Properties	2,453	(0.72	)%		(3,571	)
CubeSmart	2,037	(1.84	)%		(4,952	)
Veris Residential, Inc.	3,326	(1.00	)%		(7,548	)
DiamondRock Hospitality Co.	13,587	(1.99	)%		(7,559	)
Public Storage	305	(1.87	)%		(7,952	)
Safehold, Inc.	2,745	(1.21	)%		(10,496	)
Four Corners Property Trust, Inc.	5,529	(2.72	)%		(10,855	)
Equinix, Inc.	136	(2.03	)%		(14,596	)
Crown Castle, Inc.	1,870	(3.73	)%		(15,976	)
Phillips Edison & Company, Inc.	4,672	(2.96	)%		(16,439	)
Sunstone Hotel Investors, Inc.	20,357	(3.53	)%		(19,994	)
Acadia Realty Trust	4,676	(1.85	)%		(20,279	)
Realty Income Corp.	3,540	(3.77	)%		(26,125	)
SL Green Realty Corp.	2,086	(2.44	)%		(26,283	)
Terreno Realty Corp.	3,209	(3.60	)%		(27,391	)
Federal Realty Investment Trust	1,897	(3.67	)%		(31,675	)
Omega Healthcare Investors, Inc.	3,999	(2.74	)%		(34,422	)
BXP, Inc.	4,245	(5.74	)%		(35,689	)
Agree Realty Corp.	3,388	(4.29	)%		(36,473	)
Mid-America Apartment Communities, Inc.	2,520	(6.74	)%		(43,388	)
Macerich Co.	12,403	(3.80	)%		(44,101	)
Douglas Emmett, Inc.	11,765	(3.47	)%		(45,861	)
Camden Property Trust	2,861	(5.94	)%		(54,160	)
National Health Investors, Inc.	3,349	(4.73	)%		(105,565	)
Total Financial					(596,144	)
Exchange Traded Funds
Vanguard Real Estate ETF	2,040	(3.34	)%		(19,798	)
Total MS Equity Market Neutral  Short Custom Basket				$	(615,942	)

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

MS LONG/SHORT EQUITY LONG CUSTOM BASKET
	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Consumer, Non-cyclical
United Therapeutics Corp.		131		0.98	%	$	17,752
Innoviva, Inc.		2,494		1.00	%		16,018
Gilead Sciences, Inc.		629		1.09	%		12,160
Cal-Maine Foods, Inc.		677		1.04	%		9,316
Ingredion, Inc.		363		1.03	%		8,798
Perdoceo Education Corp.		1,191		0.55	%		6,578
Catalyst Pharmaceuticals, Inc.		1,358		0.56	%		6,376
Incyte Corp.		798		1.09	%		6,193
Bristol-Myers Squibb Co.		779		0.84	%		4,714
Merck & Company, Inc.		415		0.98	%		4,479
Johnson & Johnson		296		1.00	%		3,705
Medtronic plc		347		0.65	%		3,183
Laureate Education, Inc. — Class A		1,148		0.40	%		2,138
Alkermes plc		733		0.43	%		1,924
Protagonist Therapeutics, Inc.		502		0.47	%		1,609
Stride, Inc.		203		0.36	%		881
Royalty Pharma plc — Class A		1,687		0.99	%		637
Zimmer Biomet Holdings, Inc.		210		0.47	%		514
Centene Corp.		138		0.22	%		480
Jazz Pharmaceuticals plc		149		0.35	%		444
ADT, Inc.		1,574		0.24	%		185
Premier, Inc. — Class A		1,163		0.48	%		90
Regeneron Pharmaceuticals, Inc.		42		0.92	%		5
Hologic, Inc.		612		1.04	%		(397	)
Biogen, Inc.		59		0.24	%		(416	)
Alarm.com Holdings, Inc.		797		0.91	%		(2,442	)
USANA Health Sciences, Inc.		250		0.20	%		(2,697	)
Inmode Ltd.		1,202		0.42	%		(3,138	)
Neurocrine Biosciences, Inc.		170		0.41	%		(3,379	)
Total Consumer, Non-cyclical							95,710
Financial
MGIC Investment Corp.		1,940		1.03	%		16,486
NMI Holdings, Inc. — Class A		1,109		0.95	%		12,862
Essent Group Ltd.		770		1.03	%		12,790
Enact Holdings, Inc.		1,387		1.05	%		11,851
Fidelity National Financial, Inc.		834		1.08	%		11,502
Synchrony Financial		796		0.83	%		9,572
OFG Bancorp		1,105		1.03	%		8,417
Hartford Financial Services Group, Inc.		429		1.05	%		7,792
Preferred Bank/Los Angeles CA		538		0.90	%		6,853
Enova International, Inc.		359		0.63	%		5,962
International Bancshares Corp.		324		0.40	%		4,964
Axis Capital Holdings Ltd.		576		0.95	%		4,820
Janus Henderson Group plc		893		0.71	%		4,535
American Express Co.		96		0.54	%		3,760
RenaissanceRe Holdings Ltd.		79		0.45	%		3,415
Reinsurance Group of America, Inc. — Class A		227		1.03	%		2,776
Affiliated Managers Group, Inc.		228		0.84	%		2,220
Arch Capital Group Ltd.		164		0.38	%		2,136
Travelers Companies, Inc.		97		0.47	%		2,056
Everest Group Ltd.		66		0.54	%		1,556
Kilroy Realty Corp.		275		0.22	%		933
Highwoods Properties, Inc.		510		0.36	%		843
WP Carey, Inc.		160		0.21	%		182
Raymond James Financial, Inc.		1		0.00	%		19
Douglas Elliman, Inc.		1		0.00	%		(2	)
OneMain Holdings, Inc.		357		0.35	%		(250	)
Park Hotels & Resorts, Inc.		1,138		0.33	%		(252	)
American International Group, Inc.		532		0.81	%		(261	)
Total Financial							137,537
Industrial
Mueller Industries, Inc.		732		1.13	%		26,940
Apogee Enterprises, Inc.		773		1.12	%		16,624
Teekay Corp.		5,279		1.01	%		16,160
Boise Cascade Co.		391		1.15	%		14,809
Owens Corning		245		0.90	%		14,073
UFP Industries, Inc.		427		1.16	%		9,855
Teekay Tankers Ltd. — Class A		914		1.11	%		9,723
Scorpio Tankers, Inc.		625		0.93	%		9,177
International Seaways, Inc.		858		0.92	%		7,088
Caterpillar, Inc.		79		0.64	%		4,937
Snap-on, Inc.		179		1.08	%		4,777
Acuity Brands, Inc.		201		1.15	%		4,354
Ardmore Shipping Corp.		1,808		0.68	%		3,954
Masterbrand, Inc.		1,074		0.41	%		1,686
Donaldson Company, Inc.		506		0.78	%		1,649
Mueller Water Products, Inc. — Class A		931		0.42	%		1,598
Gates Industrial Corporation plc		1,275		0.47	%		1,017
Benchmark Electronics, Inc.		255		0.23	%		845
Gibraltar Industries, Inc.		216		0.31	%		535
Textron, Inc.		221		0.41	%		323
Griffon Corp.		235		0.34	%		272
Avnet, Inc.		942		1.06	%		98
Tennant Co.		392		0.78	%		(493	)
Vishay Intertechnology, Inc.		543		0.21	%		(1,664	)
Dorian LPG Ltd.		745		0.53	%		(9,176	)
Total Industrial							139,161
Utilities
OGE Energy Corp.		1,228		1.05	%		9,105
Black Hills Corp.		818		1.04	%		7,216
National Fuel Gas Co.		822		1.04	%		7,060
Duke Energy Corp.		422		1.01	%		5,677
Entergy Corp.		403		1.10	%		3,789
Spire, Inc.		744		1.04	%		1,452
Southwest Gas Holdings, Inc.		352		0.54	%		1,149

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
PPL Corp.		528		0.36	%	$	455
Avista Corp.		804		0.65	%		(341	)
Otter Tail Corp.		486		0.79	%		(4,577	)
Total Utilities							30,985
Consumer, Cyclical
Allison Transmission Holdings, Inc.		575		1.15	%		24,099
M/I Homes, Inc.		128		0.46	%		11,658
Monarch Casino & Resort, Inc.		648		1.07	%		9,950
Toll Brothers, Inc.		186		0.60	%		8,084
Lennar Corp. — Class A		107		0.42	%		7,896
PC Connection, Inc.		429		0.67	%		5,000
Buckle, Inc.		590		0.54	%		3,548
Cummins, Inc.		73		0.49	%		3,275
Patrick Industries, Inc.		105		0.31	%		2,102
Columbia Sportswear Co.		485		0.84	%		1,931
BorgWarner, Inc.		411		0.31	%		1,668
Phinia, Inc.		652		0.62	%		1,336
KB Home		146		0.26	%		997
MRC Global, Inc.		931		0.25	%		374
ScanSource, Inc.		535		0.53	%		102
Sonos, Inc.		1,056		0.27	%		17
Carter's, Inc.		202		0.27	%		(576	)
Core & Main, Inc. — Class A		289		0.27	%		(1,484	)
Gentex Corp.		643		0.40	%		(2,415	)
MasterCraft Boat Holdings, Inc.		907		0.34	%		(2,707	)
Visteon Corp.		325		0.64	%		(2,716	)
PACCAR, Inc.		532		1.09	%		(2,958	)
Autoliv, Inc.		273		0.53	%		(3,980	)
Lear Corp.		433		0.98	%		(7,320	)
Movado Group, Inc.		1,184		0.46	%		(8,958	)
Total Consumer, Cyclical							48,923
Basic Materials
Cabot Corp.		233		0.54	%		5,170
CF Industries Holdings, Inc.		388		0.69	%		3,579
Sylvamo Corp.		215		0.38	%		2,107
NewMarket Corp.		40		0.46	%		1,657
Minerals Technologies, Inc.		235		0.38	%		1,188
Arcadium Lithium plc		2		0.00	%		6
Total Basic Materials							13,707
Communications
InterDigital, Inc.		366		1.08	%		21,930
IDT Corp. — Class B		1,185		0.94	%		17,627
AT&T, Inc.		2,228		1.02	%		16,785
T-Mobile US, Inc.		199		0.85	%		11,963
Verizon Communications, Inc.		954		0.89	%		10,712
eBay, Inc.		372		0.50	%		9,707
F5, Inc.		209		0.96	%		9,457
ePlus, Inc.		368		0.75	%		5,901
Gen Digital, Inc.		910		0.52	%		2,564
Expedia Group, Inc.		72		0.22	%		897
HealthStream, Inc.		506		0.30	%		328
Spok Holdings, Inc.		1,577		0.49	%		130
Anterix, Inc.		523		0.41	%		(605	)
Yelp, Inc. — Class A		923		0.67	%		(1,033	)
Gogo, Inc.		2,338		0.35	%		(3,413	)
Total Communications							102,950
Technology
Cirrus Logic, Inc.		316		0.82	%		9,667
Zoom Video Communications, Inc. — Class A		619		0.90	%		3,912
Amdocs Ltd.		437		0.79	%		3,761
NetApp, Inc.		180		0.46	%		3,440
International Business Machines Corp.		92		0.42	%		1,805
Adeia, Inc.		822		0.20	%		1,161
TE Connectivity plc		209		0.66	%		983
HP, Inc.		384		0.29	%		513
IPG Photonics Corp.		411		0.63	%		331
Qorvo, Inc.		98		0.21	%		(461	)
Skyworks Solutions, Inc.		322		0.66	%		(1,780	)
Photronics, Inc.		840		0.43	%		(2,255	)
QUALCOMM, Inc.		250		0.88	%		(4,967	)
Total Technology							16,110
Energy
DNOW, Inc.		972		0.26	%		717
HF Sinclair Corp.		325		0.30	%		(2,967	)
Total Energy							(2,250	)
Government
Banco Latinoamericano de Comercio Exterior S.A. — Class E		1,249		0.84	%		13,535
Total MS Long/Short Equity Long Custom Basket						$	596,368
MS LONG/SHORT EQUITY SHORT CUSTOM BASKET
Consumer, Cyclical
VSE Corp.		436		(1.37	)%		1,662
Walgreens Boots Alliance, Inc.		1,158		(0.40	)%		(536	)
Madison Square Garden Sports Corp. — Class A		113		(0.90	)%		(2,017	)
American Airlines Group, Inc.		4,459		(1.91	)%		(2,869	)
JetBlue Airways Corp.		4,075		(1.02	)%		(3,441	)
LGI Homes, Inc.		199		(0.90	)%		(6,360	)
Total Consumer, Cyclical							(13,561	)
Industrial
Montrose Environmental Group, Inc.		389		(0.39	)%		7,946
Boeing Co.		157		(0.91	)%		7,212
XPO, Inc.		316		(1.29	)%		5,028
Saia, Inc.		41		(0.68	)%		4,768
Old Dominion Freight Line, Inc.		185		(1.40	)%		3,154
Knight-Swift Transportation Holdings, Inc.		405		(0.83	)%		1,214
Norfolk Southern Corp.		111		(1.05	)%		409
Union Pacific Corp.		57		(0.54	)%		(344	)
Covenant Logistics Group, Inc. — Class A		354		(0.71	)%		(419	)

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Percentage Notional Amount		Value and Unrealized Appreciation (Depreciation)
Casella Waste Systems, Inc. — Class A		220	(0.83	)%	$	(627	)
Materion Corp.		129	(0.55	)%		(698	)
Forward Air Corp.		403	(0.54	)%		(1,089	)
Perma-Fix Environmental Services, Inc.		1,118	(0.52	)%		(1,898	)
United Parcel Service, Inc. — Class B		208	(1.08	)%		(1,945	)
J.B. Hunt Transport Services, Inc.		223	(1.46	)%		(3,252	)
CH Robinson Worldwide, Inc.		479	(2.01	)%		(11,462	)
Total Industrial						7,997
Technology
Dayforce, Inc.		862	(2.01	)%		2,762
Take-Two Interactive Software, Inc.		211	(1.24	)%		743
KBR, Inc.		592	(1.47	)%		(995	)
Appian Corp. — Class A		469	(0.61	)%		(1,389	)
Total Technology						1,121
Basic Materials
Compass Minerals International, Inc.		3,013	(1.38	)%		13,675
Arcadium Lithium plc		2	0.00	%		4
Novagold Resources, Inc.		7,326	(1.14	)%		(130	)
Ivanhoe Electric Incorporated / US		3,304	(1.06	)%		(136	)
Coeur Mining, Inc.		1,772	(0.46	)%		(2,304	)
Radius Recycling, Inc. — Class A		901	(0.64	)%		(3,568	)
MP Materials Corp.		2,525	(1.70	)%		(6,623	)
Hecla Mining Co.		4,445	(1.13	)%		(8,967	)
Total Basic Materials						(8,049	)
Consumer, Non-cyclical
Avis Budget Group, Inc.		142	(0.47	)%		4,542
Patterson Companies, Inc.		1,385	(1.15	)%		2,065
NeoGenomics, Inc.		1,156	(0.65	)%		512
Verisk Analytics, Inc. — Class A		98	(1.00	)%		(537	)
Amicus Therapeutics, Inc.		1,259	(0.51	)%		(664	)
Spectrum Brands Holdings, Inc.		156	(0.57	)%		(1,147	)
Booz Allen Hamilton Holding Corp.		225	(1.39	)%		(1,922	)
Equifax, Inc.		51	(0.57	)%		(2,745	)
GXO Logistics, Inc.		1,026	(2.03	)%		(2,896	)
TransUnion		200	(0.80	)%		(5,837	)
Total Consumer, Non-cyclical						(8,630	)
Financial
New York Mortgage Trust, Inc.		7,132	(1.72	)%		16,877
Americold Realty Trust, Inc.		1,691	(1.82	)%		9,098
Cannae Holdings, Inc.		1,499	(1.09	)%		3,941
TFS Financial Corp.		2,724	(1.33	)%		2,087
PotlatchDeltic Corp.		910	(1.56	)%		1,511
Triumph Financial, Inc.		300	(0.91	)%		589
UDR, Inc.		361	(0.62	)%		(372	)
St. Joe Co.		851	(1.89	)%		(812	)
CoStar Group, Inc.		407	(1.17	)%		(1,112	)
Brighthouse Financial, Inc.		1,088	(1.87	)%		(1,589	)
Safehold, Inc.		1,243	(1.24	)%		(1,685	)
Capitol Federal Financial, Inc.		6,874	(1.53	)%		(1,755	)
Digital Realty Trust, Inc.		146	(0.90	)%		(1,919	)
Burford Capital Ltd.		2,974	(1.50	)%		(2,180	)
Equity LifeStyle Properties, Inc.		582	(1.58	)%		(2,658	)
Marcus & Millichap, Inc.		1,126	(1.70	)%		(2,843	)
Sun Communities, Inc.		310	(1.60	)%		(3,028	)
Apartment Investment and Management Co. — Class A		3,980	(1.37	)%		(4,006	)
Banc of California, Inc.		2,830	(1.59	)%		(5,343	)
Equinix, Inc.		59	(1.99	)%		(5,824	)
Veris Residential, Inc.		2,245	(1.53	)%		(6,614	)
Crown Castle, Inc.		366	(1.65	)%		(7,572	)
FTAI Infrastructure, Inc.		4,188	(1.49	)%		(7,579	)
SBA Communications Corp.		166	(1.52	)%		(7,762	)
State Street Corp.		572	(1.93	)%		(8,137	)
Redwood Trust, Inc.		6,580	(1.94	)%		(9,069	)
Iron Mountain, Inc.		425	(1.92	)%		(13,335	)
CBRE Group, Inc. — Class A		428	(2.04	)%		(15,557	)
Total Financial						(76,648	)
Utilities
Middlesex Water Co.		382	(0.95	)%		(1,255	)
TXNM Energy, Inc.		724	(1.21	)%		(4,425	)
Eversource Energy		693	(1.80	)%		(7,463	)
Total Utilities						(13,143	)
Energy
Valaris Ltd.		652	(1.38	)%		11,934
Transocean Ltd.		11,089	(1.81	)%		8,368
Core Laboratories, Inc.		2,412	(1.71	)%		4,793
Expro Group Holdings N.V.		769	(0.50	)%		843
Antero Resources Corp.		1,218	(1.33	)%		(135	)
Oceaneering International, Inc.		1,004	(0.95	)%		(1,883	)
Bristow Group, Inc.		909	(1.21	)%		(1,937	)
Total Energy						21,983
Communications
Sphere Entertainment Co.		249	(0.42	)%		(142	)
Uber Technologies, Inc.		162	(0.46	)%		(1,497	)
Total Communications						(1,639	)
Total MS Long/Short Equity Short Custom Basket					$	(90,569	)

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

GS EQUITY MARKET NEUTRAL  LONG CUSTOM BASKET
	Shares	Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Financial
Vornado Realty Trust	5,386	3.58	%	$	79,527
Kimco Realty Corp.	10,316	4.04	%		64,713
Kilroy Realty Corp.	9,985	6.51	%		54,022
Kite Realty Group Trust	9,638	4.32	%		52,820
VICI Properties, Inc.	9,907	5.56	%		48,750
Sabra Health Care REIT, Inc.	8,743	2.74	%		41,439
Invitation Homes, Inc.	10,486	6.23	%		37,955
Digital Realty Trust, Inc.	721	1.97	%		31,879
CareTrust REIT, Inc.	3,526	1.83	%		23,502
American Homes 4 Rent — Class A	4,866	3.15	%		23,015
Tanger, Inc.	3,340	1.87	%		19,350
Alexandria Real Estate Equities, Inc.	2,093	4.19	%		18,894
InvenTrust Properties Corp.	4,466	2.14	%		16,749
EPR Properties	2,546	2.11	%		15,057
SBA Communications Corp.	458	1.86	%		12,048
National Storage Affiliates Trust	2,271	1.85	%		10,789
WP Carey, Inc.	1,930	2.03	%		10,346
Ryman Hospitality Properties, Inc.	976	1.76	%		8,807
NNN REIT, Inc.	3,409	2.79	%		4,831
UDR, Inc.	3,730	2.85	%		4,361
Apple Hospitality REIT, Inc.	14,475	3.62	%		4,337
STAG Industrial, Inc.	5,548	3.66	%		3,948
Extra Space Storage, Inc.	605	1.84	%		2,883
Simon Property Group, Inc.	646	1.84	%		1,338
American Tower Corp. — Class A	467	1.83	%		770
RLJ Lodging Trust	6,131	0.95	%		683
Prologis, Inc.	1,735	3.69	%		666
Gaming and Leisure Properties, Inc.	3,209	2.78	%		646
Healthcare Realty Trust, Inc.	11,949	3.66	%		(454	)
Alexander & Baldwin, Inc.	2,782	0.90	%		(1,334	)
NETSTREIT Corp.	6,689	1.86	%		(2,135	)
Essex Property Trust, Inc.	1,117	5.56	%		(3,201	)
Park Hotels & Resorts, Inc.	18,615	4.43	%		(7,458	)
Total Financial					579,543
Total GS Equity Market Neutral  Long Custom Basket				$	579,543
GS EQUITY MARKET NEUTRAL  SHORT CUSTOM BASKET
Douglas Emmett, Inc.	11,914	(3.52	)%		74,112
Service Properties Trust	10,607	(0.81	)%		25,807
Pebblebrook Hotel Trust	11,999	(2.67	)%		13,337
Camden Property Trust	2,861	(5.94	)%		6,017
JBG SMITH Properties	2,453	(0.72	)%		5,427
Host Hotels & Resorts, Inc.	5,928	(1.75	)%		3,369
LXP Industrial Trust	8,009	(1.35	)%		2,158
Sunstone Hotel Investors, Inc.	20,357	(3.53	)%		1,557
Rexford Industrial Realty, Inc.	1,387	(1.17	)%		927
Equity LifeStyle Properties, Inc.	1,518	(1.82	)%		551
Americold Realty Trust, Inc.	2,478	(1.18	)%		482
EastGroup Properties, Inc.	380	(1.19	)%		411
Cousins Properties, Inc.	3,652	(1.81	)%		(78	)
Independence Realty Trust, Inc.	1,568	(0.54	)%		(140	)
Getty Realty Corp.	2,439	(1.30	)%		(720	)
Global Net Lease, Inc.	7,047	(1.00	)%		(1,280	)
Sun Communities, Inc.	799	(1.81	)%		(1,356	)
Regency Centers Corp.	1,546	(1.88	)%		(4,184	)
CubeSmart	2,037	(1.84	)%		(5,154	)
DiamondRock Hospitality Co.	13,587	(1.99	)%		(6,457	)
Mid-America Apartment Communities, Inc.	2,520	(6.74	)%		(7,229	)
Veris Residential, Inc.	3,326	(1.00	)%		(7,445	)
Public Storage	305	(1.86	)%		(8,436	)
Safehold, Inc.	2,745	(1.21	)%		(11,931	)
Four Corners Property Trust, Inc.	5,529	(2.72	)%		(11,964	)
Equinix, Inc.	136	(2.03	)%		(14,530	)
Crown Castle, Inc.	1,870	(3.73	)%		(15,099	)
Phillips Edison & Company, Inc.	4,672	(2.96	)%		(16,430	)
Federal Realty Investment Trust	1,897	(3.66	)%		(18,211	)
Acadia Realty Trust	4,676	(1.84	)%		(20,471	)
Realty Income Corp.	3,540	(3.77	)%		(24,062	)
Terreno Realty Corp.	3,209	(3.60	)%		(27,635	)
SL Green Realty Corp.	2,065	(2.42	)%		(31,115	)
Macerich Co.	12,403	(3.80	)%		(31,628	)
BXP, Inc.	4,245	(5.75	)%		(35,444	)
Omega Healthcare Investors, Inc.	3,999	(2.73	)%		(35,948	)
Agree Realty Corp.	3,388	(4.29	)%		(37,458	)
National Health Investors, Inc.	3,349	(4.73	)%		(102,459	)
Total Financial					(342,709	)
Exchange Traded Funds
Vanguard Real Estate ETF	2,040	(3.34	)%		25,889
Total GS Equity Market Neutral  Short Custom Basket				$	(316,820	)

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Consumer, Non-cyclical
Innoviva, Inc.		2,494		1.00	%	$	18,734
United Therapeutics Corp.		131		0.98	%		17,783
Gilead Sciences, Inc.		629		1.10	%		12,211
Perdoceo Education Corp.		1,191		0.55	%		10,686
Cal-Maine Foods, Inc.		677		1.05	%		8,963
Ingredion, Inc.		363		1.04	%		8,722
Bristol-Myers Squibb Co.		779		0.84	%		6,776
Catalyst Pharmaceuticals, Inc.		1,358		0.56	%		6,350
Incyte Corp.		798		1.10	%		6,093
Merck & Company, Inc.		415		0.98	%		4,501
Johnson & Johnson		296		1.00	%		3,674
Medtronic plc		347		0.65	%		3,222
Alkermes plc		733		0.43	%		2,185
Laureate Education, Inc. — Class A		1,148		0.40	%		2,104
Protagonist Therapeutics, Inc.		502		0.47	%		1,637
Stride, Inc.		203		0.36	%		934
Royalty Pharma plc — Class A		1,687		0.99	%		633
Zimmer Biomet Holdings, Inc.		210		0.47	%		503
Centene Corp.		138		0.22	%		468
Jazz Pharmaceuticals plc		149		0.35	%		447
ADT, Inc.		1,574		0.24	%		184
Regeneron Pharmaceuticals, Inc.		42		0.92	%		51
Premier, Inc. — Class A		1,163		0.48	%		51
Hologic, Inc.		612		1.04	%		(331	)
Biogen, Inc.		59		0.24	%		(430	)
Alarm.com Holdings, Inc.		797		0.91	%		(2,495	)
USANA Health Sciences, Inc.		250		0.20	%		(2,724	)
Inmode Ltd.		1,202		0.42	%		(3,151	)
Neurocrine Biosciences, Inc.		170		0.41	%		(3,472	)
Total Consumer, Non-cyclical							104,309
Basic Materials
Cabot Corp.		233		0.54	%		5,200
CF Industries Holdings, Inc.		388		0.69	%		3,574
Sylvamo Corp.		215		0.38	%		2,217
NewMarket Corp.		40		0.46	%		1,604
Minerals Technologies, Inc.		235		0.38	%		1,150
Total Basic Materials							13,745
Communications
InterDigital, Inc.		366		1.07	%		21,948
IDT Corp. — Class B		1,185		0.94	%		17,609
AT&T, Inc.		2,228		1.02	%		16,744
T-Mobile US, Inc.		199		0.85	%		11,950
Verizon Communications, Inc.		954		0.89	%		10,599
eBay, Inc.		372		0.50	%		9,682
F5, Inc.		209		0.96	%		9,471
ePlus, Inc.		368		0.75	%		5,875
Gen Digital, Inc.		910		0.52	%		2,639
Expedia Group, Inc.		72		0.22	%		891
HealthStream, Inc.		506		0.30	%		327
Spok Holdings, Inc.		1,577		0.49	%		222
Anterix, Inc.		523		0.41	%		(599)
Yelp, Inc. — Class A		923		0.67	%		(1,030	)
Gogo, Inc.		2,338		0.35	%		(3,771	)
Total Communications							102,557
Utilities
OGE Energy Corp.		1,228		1.04	%		8,951
National Fuel Gas Co.		822		1.03	%		8,227
Black Hills Corp.		818		1.03	%		6,986
Duke Energy Corp.		422		1.01	%		5,633
Entergy Corp.		403		1.10	%		3,851
Spire, Inc.		744		1.04	%		1,438
Southwest Gas Holdings, Inc.		352		0.54	%		1,114
PPL Corp.		528		0.36	%		456
Avista Corp.		804		0.65	%		(446	)
Otter Tail Corp.		486		0.79	%		(4,609	)
Total Utilities							31,601
Government
Banco Latinoamericano de Comercio Exterior S.A. — Class E		1,249		0.84	%		13,508
Energy
DNOW, Inc.		972		0.26	%		677
HF Sinclair Corp.		325		0.30	%		(2,935	)
Total Energy							(2,258	)
Total GS Long/Short Equity Long Custom Basket						$	581,596
GS LONG/SHORT EQUITY SHORT CUSTOM BASKET
Financial
New York Mortgage Trust, Inc.		7,132		(1.72	)%		16,838
Americold Realty Trust, Inc.		1,691		(1.82	)%		9,718
Cannae Holdings, Inc.		1,499		(1.09	)%		3,911
Sun Communities, Inc.		310		(1.60	)%		2,609
TFS Financial Corp.		2,724		(1.33	)%		2,004
PotlatchDeltic Corp.		910		(1.56	)%		1,561
Triumph Financial, Inc.		300		(0.91	)%		587
UDR, Inc.		361		(0.62	)%		(406	)
St. Joe Co.		851		(1.89	)%		(815	)
CoStar Group, Inc.		407		(1.17	)%		(1,132	)
Capitol Federal Financial, Inc.		6,874		(1.53	)%		(1,648	)
Brighthouse Financial, Inc.		1,088		(1.87	)%		(1,668	)
Safehold, Inc.		1,243		(1.24	)%		(1,721	)
Digital Realty Trust, Inc.		146		(0.90	)%		(1,939	)
Burford Capital Ltd.		2,974		(1.50	)%		(2,126	)
Equity LifeStyle Properties, Inc.		582		(1.58	)%		(2,647	)
Marcus & Millichap, Inc.		1,126		(1.70	)%		(2,888	)
Apartment Investment and Management Co. — Class A		3,980		(1.37	)%		(3,988	)
Banc of California, Inc.		2,830		(1.59	)%		(5,375	)
Veris Residential, Inc.		2,245		(1.53	)%		(6,618	)
Equinix, Inc.		59		(1.99	)%		(6,757	)
Crown Castle, Inc.		366		(1.65	)%		(7,589	)
FTAI Infrastructure, Inc.		4,188		(1.49	)%		(7,671	)

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
SBA Communications Corp.		166		(1.52	)%	$	(7,811	)
State Street Corp.		572		(1.93	)%		(8,137	)
Redwood Trust, Inc.		6,580		(1.94	)%		(9,048	)
Iron Mountain, Inc.		425		(1.92	)%		(13,341	)
CBRE Group, Inc. — Class A		428		(2.03	)%		(15,609	)
Total Financial							(71,706	)
Energy
Valaris Ltd.		652		(1.38	)%		9,867
Transocean Ltd.		11,089		(1.80	)%		8,245
Core Laboratories, Inc.		2,412		(1.70	)%		4,789
Expro Group Holdings N.V.		769		(0.50	)%		747
Antero Resources Corp.		1,218		(1.33	)%		(197	)
Oceaneering International, Inc.		1,004		(0.95	)%		(1,898	)
Bristow Group, Inc.		909		(1.20	)%		(1,907	)
Total Energy							19,646
Industrial
Montrose Environmental Group, Inc.		389		(0.39	)%		7,830
Boeing Co.		157		(0.91	)%		7,227
XPO, Inc.		316		(1.29	)%		5,288
Saia, Inc.		41		(0.68	)%		4,743
Old Dominion Freight Line, Inc.		185		(1.40	)%		3,229
Knight-Swift Transportation Holdings, Inc.		405		(0.83	)%		1,204
Norfolk Southern Corp.		111		(1.05	)%		438
Union Pacific Corp.		57		(0.54	)%		(348	)
Covenant Logistics Group, Inc. — Class A		354		(0.71	)%		(378	)
Casella Waste Systems, Inc. — Class A		220		(0.83	)%		(640	)
Materion Corp.		129		(0.55	)%		(690	)
Forward Air Corp.		403		(0.54	)%		(1,232	)
Perma-Fix Environmental Services, Inc.		1,118		(0.52	)%		(1,898	)
United Parcel Service, Inc. — Class B		208		(1.08	)%		(1,958	)
J.B. Hunt Transport Services, Inc.		223		(1.46	)%		(3,333	)
CH Robinson Worldwide, Inc.		479		(2.01	)%		(11,643	)
Total Industrial							7,839
Basic Materials
Compass Minerals International, Inc.		3,013		(1.38	)%		13,406
Novagold Resources, Inc.		7,326		(1.14	)%		843
Ivanhoe Electric Incorporated / US		3,304		(1.06	)%		85
Coeur Mining, Inc.		1,772		(0.46	)%		(2,337	)
Radius Recycling, Inc. — Class A		901		(0.64	)%		(3,683	)
MP Materials Corp.		2,525		(1.70	)%		(6,347	)
Hecla Mining Co.		4,445		(1.13	)%		(6,448	)
Total Basic Materials							(4,481	)
Utilities
Middlesex Water Co.		382		(0.95	)%		(1,293	)
TXNM Energy, Inc.		724		(1.21	)%		(4,411	)
Eversource Energy		693		(1.81	)%		(7,425)
Total Utilities							(13,129	)
Consumer, Non-cyclical
Avis Budget Group, Inc.		142		(0.47	)%		4,518
Patterson Companies, Inc.		1,385		(1.15	)%		1,979
NeoGenomics, Inc.		1,156		(0.65	)%		445
GE HealthCare Technologies, Inc.		0		0.00	%		(1	)
Verisk Analytics, Inc. — Class A		98		(1.00	)%		(574	)
Amicus Therapeutics, Inc.		1,259		(0.51	)%		(648	)
Spectrum Brands Holdings, Inc.		156		(0.57	)%		(1,140	)
Booz Allen Hamilton Holding Corp.		225		(1.39	)%		(1,910	)
GXO Logistics, Inc.		1,026		(2.04	)%		(2,732	)
Equifax, Inc.		51		(0.57	)%		(2,772	)
TransUnion		200		(0.80	)%		(5,833	)
Total Consumer, Non-cyclical							(8,667	)
Technology
Dayforce, Inc.		862		(2.02	)%		2,651
Take-Two Interactive Software, Inc.		211		(1.24	)%		818
KBR, Inc.		592		(1.47	)%		(1,059	)
Appian Corp. — Class A		469		(0.61	)%		(1,500	)
Total Technology							910
Consumer, Cyclical
VSE Corp.		436		(1.37	)%		1,668
Walgreens Boots Alliance, Inc.		1,158		(0.40	)%		(538	)
Madison Square Garden Sports Corp. — Class A		113		(0.90	)%		(1,972	)
American Airlines Group, Inc.		4,459		(1.92	)%		(2,776	)
JetBlue Airways Corp.		4,075		(1.02	)%		(3,473	)
LGI Homes, Inc.		199		(0.90	)%		(6,389	)
Total Consumer, Cyclical							(13,480	)
Communications
Sphere Entertainment Co.		249		(0.42	)%		(169	)
Uber Technologies, Inc.		162		(0.46	)%		(1,490	)
Total Communications							(1,659	)
Total GS Long/Short Equity Short Custom Basket						$	(84,727	)

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

GS LONG/SHORT EQUITY LONG CUSTOM BASKET

	Shares		Percentage Notional Amount			Value and Unrealized Appreciation (Depreciation)
Technology
Cirrus Logic, Inc.		316		0.82	%	$	9,667
Zoom Video Communications, Inc. — Class A		619		0.90	%		3,864
Amdocs Ltd.		437		0.79	%		3,680
NetApp, Inc.		180		0.46	%		3,476
International Business Machines Corp.		92		0.42	%		1,796
Adeia, Inc.		822		0.20	%		1,163
TE Connectivity plc		209		0.66	%		1,042
HP, Inc.		384		0.29	%		511
IPG Photonics Corp.		411		0.63	%		293
Qorvo, Inc.		98		0.21	%		(458	)
Skyworks Solutions, Inc.		322		0.66	%		(1,794	)
Photronics, Inc.		840		0.43	%		(2,144	)
QUALCOMM, Inc.		250		0.88	%		(4,976	)
Total Technology							16,120
Financial
Essent Group Ltd.		770		1.03	%		16,101
NMI Holdings, Inc. — Class A		1,109		0.95	%		12,734
Enact Holdings, Inc.		1,387		1.05	%		11,898
Fidelity National Financial, Inc.		834		1.08	%		11,602
Preferred Bank/Los Angeles CA		538		0.90	%		10,650
MGIC Investment Corp.		1,940		1.03	%		10,408
Synchrony Financial		796		0.83	%		9,613
OFG Bancorp		1,105		1.03	%		8,415
Hartford Financial Services Group, Inc.		429		1.05	%		7,779
Enova International, Inc.		359		0.63	%		5,949
Axis Capital Holdings Ltd.		576		0.95	%		4,772
Janus Henderson Group plc		893		0.71	%		4,540
American Express Co.		96		0.54	%		3,740
International Bancshares Corp.		324		0.40	%		3,607
RenaissanceRe Holdings Ltd.		79		0.45	%		3,412
Reinsurance Group of America, Inc. — Class A		227		1.03	%		2,825
Affiliated Managers Group, Inc.		228		0.84	%		2,310
Arch Capital Group Ltd.		164		0.38	%		2,119
Travelers Companies, Inc.		97		0.47	%		2,047
Everest Group Ltd.		66		0.54	%		1,545
Kilroy Realty Corp.		275		0.22	%		957
Highwoods Properties, Inc.		510		0.36	%		833
WP Carey, Inc.		160		0.21	%		187
Raymond James Financial, Inc.		1		0.00	%		19
Douglas Elliman, Inc.		1		0.00	%		(2	)
Park Hotels & Resorts, Inc.		1,138		0.33	%		(241	)
OneMain Holdings, Inc.		357		0.35	%		(270	)
American International Group, Inc.		532		0.81	%		(274	)
Total Financial							137,275
Consumer, Cyclical
Allison Transmission Holdings, Inc.		575		1.15	%		20,453
M/I Homes, Inc.		128		0.46	%		11,660
Monarch Casino & Resort, Inc.		648		1.07	%		9,921
Toll Brothers, Inc.		186		0.60	%		8,087
Lennar Corp. — Class A		107		0.42	%		7,905
PC Connection, Inc.		429		0.67	%		5,001
Buckle, Inc.		590		0.54	%		3,584
Cummins, Inc.		73		0.49	%		3,288
Patrick Industries, Inc.		105		0.31	%		2,140
Columbia Sportswear Co.		485		0.84	%		1,931
BorgWarner, Inc.		411		0.31	%		1,630
Phinia, Inc.		652		0.62	%		1,464
KB Home		146		0.26	%		998
MRC Global, Inc.		931		0.25	%		356
ScanSource, Inc.		535		0.53	%		161
Sonos, Inc.		1,056		0.27	%		64
Carter's, Inc.		202		0.27	%		(595	)
Core & Main, Inc. — Class A		289		0.27	%		(1,481	)
Gentex Corp.		643		0.40	%		(2,397	)
Visteon Corp.		325		0.64	%		(2,688	)
MasterCraft Boat Holdings, Inc.		907		0.34	%		(2,761	)
PACCAR, Inc.		532		1.09	%		(2,942	)
Autoliv, Inc.		273		0.53	%		(4,002	)
Lear Corp.		433		0.98	%		(7,287	)
Movado Group, Inc.		1,184		0.46	%		(8,765	)
Total Consumer, Cyclical							45,725
Industrial
Mueller Industries, Inc.		732		1.13	%		19,819
Apogee Enterprises, Inc.		773		1.12	%		17,802
Teekay Corp.		5,279		1.01	%		16,128
Owens Corning		245		0.90	%		14,167
UFP Industries, Inc.		427		1.16	%		12,591
International Seaways, Inc.		858		0.92	%		10,285
Teekay Tankers Ltd. — Class A		914		1.11	%		9,676
Caterpillar, Inc.		79		0.64	%		4,940
Acuity Brands, Inc.		201		1.15	%		4,381
Snap-on, Inc.		179		1.08	%		4,189
Boise Cascade Co.		391		1.15	%		3,793
Scorpio Tankers, Inc.		625		0.93	%		2,049
Ardmore Shipping Corp.		1,808		0.68	%		1,994
Masterbrand, Inc.		1,074		0.41	%		1,692
Donaldson Company, Inc.		506		0.78	%		1,627
Mueller Water Products, Inc. — Class A		931		0.42	%		1,612
Gates Industrial Corporation plc		1,275		0.47	%		1,113
Benchmark Electronics, Inc.		255		0.23	%		872
Gibraltar Industries, Inc.		216		0.31	%		538
Griffon Corp.		235		0.34	%		359
Textron, Inc.		221		0.41	%		352
Avnet, Inc.		942		1.06	%		228
Tennant Co.		392		0.78	%		(470	)
Vishay Intertechnology, Inc.		543		0.21	%		(1,639	)
Dorian LPG Ltd.		745		0.53	%		(9,084	)
Total Industrial							119,014

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs, unless otherwise noted – See Note 3.
††	Value determined based on Level 2 inputs – See Note 3.
†††	Value determined based on Level 3 inputs – See Note 3.
1	All or a portion of this security is pledged as short security and equity custom basket swap collateral at September 30, 2024.
2	All or a portion of this security is on loan at September 30, 2024 – See Note 5.
3	Affiliated issuer.
4	All or a portion of this security is pledged as futures collateral at September 30, 2024.
5	Rate indicated is the effective yield at the time of purchase.
6	Repurchase Agreements – See Note 4.
7	Securities lending collateral – See Note 5.
8	Rate indicated is the 7-day yield as of September 30, 2024.

ADR – American Depositary Receipt 

GS – Goldman Sachs International 

MS – Morgan Stanley Capital Services LLC 

plc – Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs			Total
Common Stocks	$	16,585,603	$	—	$	—		$	16,585,603
Rights		—		—		—	*		—
Mutual Funds		6,837,055		—		—			6,837,055
Closed-End Funds		2,477,952		—		—			2,477,952
U.S. Treasury Bills		—		5,416,983		—			5,416,983
Repurchase Agreements		—		2,997,679		—			2,997,679
Securities Lending Collateral		155,907		—		—			155,907
Commodity Futures Contracts**		690,318		—		—			690,318
Currency Futures Contracts**		211,492		—		—			211,492
Interest Rate Futures Contracts**		62,965		67,092		—			130,057
Equity Futures Contracts**		29,233		8,775		—			38,008
Equity Custom Basket Swap Agreements**		—		2,369,289		—			2,369,289
Total Assets	$	27,050,525	$	10,859,818	$	—		$	37,910,343

Multi-Hedge Strategies Fund
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Investments in Securities (Liabilities)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks Sold Short	$	4,139,734	$	—	$	—	$	4,139,734
Exchange-Traded Funds Sold Short		2,365,470		—		—		2,365,470
Commodity Futures Contracts**		624,006		—		—		624,006
Currency Futures Contracts**		25,922		—		—		25,922
Equity Futures Contracts**		23,342		—		—		23,342
Interest Rate Futures Contracts**		38		—		—		38
Equity Custom Basket Swap Agreements**		—		1,108,058		—		1,108,058
Total Liabilities	$	7,178,512	$	1,108,058	$	—	$	8,286,570

^* Security has a market value of $0.

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

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows:

Security Name	Value 12/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	1,646,028	$	–	$	–	$	–	$	20,156	$	1,666,184		67,185	$	70,551
Guggenheim Strategy Fund III		2,436,560		–		–		–		33,745		2,470,305		99,249		99,855
Guggenheim Ultra Short Duration Fund – Institutional Class		538,646		–		–		–		9,296		547,942		54,685		21,144
Guggenheim Variable Insurance Strategy Fund III		2,123,195		–		–		–		29,429		2,152,624		86,555		87,266
	$	6,744,429	$	–	$	–	$	–	$	92,626	$	6,837,055			$	278,816

NASDAQ-100® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 82.3%
Technology - 40.1%
Apple, Inc.		36,524	$	8,510,092
Microsoft Corp.		17,856		7,683,437
NVIDIA Corp.		58,927		7,156,095
Broadcom, Inc.		28,753		4,959,893
Advanced Micro Devices, Inc.*		10,042		1,647,691
Adobe, Inc.*		2,751		1,424,413
QUALCOMM, Inc.		6,912		1,175,386
Texas Instruments, Inc.		5,665		1,170,219
Intuit, Inc.		1,735		1,077,435
Applied Materials, Inc.		5,115		1,033,486
Micron Technology, Inc.		6,880		713,525
Analog Devices, Inc.		3,081		709,154
Lam Research Corp.		806		657,760
KLA Corp.		834		645,858
Intel Corp.*		26,531		622,417
ASML Holding N.V. — Class G		585		487,451
Synopsys, Inc.*		953		482,590
Cadence Design Systems, Inc.*		1,699		460,480
Crowdstrike Holdings, Inc. — Class A*		1,444		404,999
Marvell Technology, Inc.		5,375		387,645
NXP Semiconductor N.V.		1,581		379,456
Roper Technologies, Inc.		665		370,033
Autodesk, Inc.*		1,337		368,317
Fortinet, Inc.*		4,746		368,052
Workday, Inc. — Class A*		1,322		323,110
Paychex, Inc.		2,232		299,512
Microchip Technology, Inc.		3,329		267,285
Cognizant Technology Solutions Corp. — Class A		3,075		237,328
Electronic Arts, Inc.		1,639		235,098
Datadog, Inc. — Class A*		1,930		222,066
ON Semiconductor Corp.*		2,658		192,997
ANSYS, Inc.*		542		172,697
Take-Two Interactive Software, Inc.*		1,088		167,236
Zscaler, Inc.*		938		160,342
Atlassian Corp. — Class A*		993		157,698
Super Micro Computer, Inc.*		363		151,153
GLOBALFOUNDRIES, Inc.*		3,422		137,736
MongoDB, Inc.*		458		123,820
ARM Holdings plc ADR*		776		110,976
Total Technology				45,854,938
Communications - 21.1%
Meta Platforms, Inc. — Class A		8,350		4,779,874
Amazon.com, Inc.*		25,212		4,697,752
Alphabet, Inc. — Class A		14,075		2,334,339
Alphabet, Inc. — Class C		13,417		2,243,188
Netflix, Inc.*		2,663		1,888,786
T-Mobile US, Inc.		7,240		1,494,047
Cisco Systems, Inc.		24,997		1,330,340
Comcast Corp. — Class A		23,968		1,001,143
Booking Holdings, Inc.		208		876,121
Palo Alto Networks, Inc.*		2,009		686,676
MercadoLibre, Inc.*		315		646,367
PDD Holdings, Inc. ADR*		4,144		558,653
Airbnb, Inc. — Class A*		2,730		346,191
DoorDash, Inc. — Class A*		2,387		340,696
Trade Desk, Inc. — Class A*		2,778		304,608
Charter Communications, Inc. — Class A*		886		287,135
CDW Corp.		829		187,603
Warner Bros Discovery, Inc.*		15,214		125,516
Total Communications				24,129,035
Consumer, Non-cyclical - 9.5%
PepsiCo, Inc.		8,523		1,449,336
Intuitive Surgical, Inc.*		2,205		1,083,250
Amgen, Inc.		3,334		1,074,248
Vertex Pharmaceuticals, Inc.*		1,601		744,593
Regeneron Pharmaceuticals, Inc.*		673		707,485
Automatic Data Processing, Inc.		2,530		700,127
Gilead Sciences, Inc.		7,725		647,664
Mondelez International, Inc. — Class A		8,288		610,577
Cintas Corp.		2,501		514,906
PayPal Holdings, Inc.*		6,343		494,944
Monster Beverage Corp.*		6,078		317,089
Keurig Dr Pepper, Inc.		8,414		315,357
AstraZeneca plc ADR		3,613		281,489
GE HealthCare Technologies, Inc.		2,833		265,877
Kraft Heinz Co.		7,502		263,395
IDEXX Laboratories, Inc.*		511		258,168
Verisk Analytics, Inc. — Class A		884		236,877
Coca-Cola Europacific Partners plc		2,849		224,359
Biogen, Inc.*		904		175,231
Dexcom, Inc.*		2,486		166,661
Moderna, Inc.*		2,385		159,390
Illumina, Inc.*		988		128,845
Total Consumer, Non-cyclical				10,819,868
Consumer, Cyclical - 7.4%
Tesla, Inc.*		11,616		3,039,094
Costco Wholesale Corp.		2,751		2,438,817
Starbucks Corp.		7,031		685,452
Marriott International, Inc. — Class A		1,747		434,304
O'Reilly Automotive, Inc.*		360		414,576
PACCAR, Inc.		3,253		321,006
Copart, Inc.*		5,971		312,881
Ross Stores, Inc.		2,070		311,556
Fastenal Co.		3,553		253,755
Lululemon Athletica, Inc.*		730		198,085
Dollar Tree, Inc.*		1,334		93,807
Total Consumer, Cyclical				8,503,333
Industrial - 1.3%
Honeywell International, Inc.		4,031		833,248
CSX Corp.		12,029		415,361
Old Dominion Freight Line, Inc.		1,330		264,191
Total Industrial				1,512,800
Basic Materials - 1.2%
Linde plc		2,963		1,412,936
Utilities - 1.1%
Constellation Energy Corp.		1,940		504,439
American Electric Power Company, Inc.		3,302		338,785
Exelon Corp.		6,208		251,734

NASDAQ-100® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 82.3% (continued)
Utilities - 1.1% (continued)
Xcel Energy, Inc.		3,459	$	225,873
Total Utilities				1,320,831
Energy - 0.4%
Baker Hughes Co.		6,164		222,828
Diamondback Energy, Inc.		1,107		190,847
Total Energy				413,675
Financial - 0.2%
CoStar Group, Inc.*		2,543		191,844
Total Common Stocks
(Cost $61,828,968)				94,159,260

	Face Amount
U.S. TREASURY BILLS†† - 4.5%
U.S. Treasury Bills
4.85% due 12/12/241,2	$	2,550,000		2,527,203
4.63% due 10/10/242,3		2,512,000		2,509,083
4.81% due 12/12/242		50,000		49,553
Total U.S. Treasury Bills
(Cost $5,083,553)				5,085,839
REPURCHASE AGREEMENTS††,4 - 10.6%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/241		6,655,695		6,655,695
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/241		5,497,295		5,497,295
Total Repurchase Agreements
(Cost $12,152,990)				12,152,990
Total Investments - 97.4%
(Cost $79,065,511)			$	111,398,089
Other Assets & Liabilities, net - 2.6%				3,017,560
Total Net Assets - 100.0%			$	114,415,649

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
NASDAQ-100 Index Mini Futures Contracts		92	Dec 2024	$	37,298,180	$	503,700

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements††
Goldman Sachs International	NASDAQ-100 Index	Pay	5.33% (Federal Funds Rate + 0.50%)	At Maturity	12/18/24		3,040	$	60,975,007	$	240,520
Barclays Bank plc	NASDAQ-100 Index	Pay	5.54% (SOFR + 0.70%)	At Maturity	12/19/24		1,078		21,619,319		124,846
BNP Paribas	NASDAQ-100 Index	Pay	5.73% (Federal Funds Rate + 0.90%)	At Maturity	12/19/24		707		14,186,110		62,274
								$	96,780,436	$	427,640

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is pledged as equity index swap collateral at September 30, 2024.
2	Rate indicated is the effective yield at the time of purchase.
3	All or a portion of this security is pledged as futures collateral at September 30, 2024.
4	Repurchase Agreements — See Note 4.
	ADR — American Depositary Receipt
	plc — Public Limited Company
	SOFR — Secured Overnight Financing Rate
	See Sector Classification in Other Information section.

NASDAQ-100® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	94,159,260	$	—	$	—	$	94,159,260
U.S. Treasury Bills		—		5,085,839		—		5,085,839
Repurchase Agreements		—		12,152,990		—		12,152,990
Equity Futures Contracts**		503,700		—		—		503,700
Equity Index Swap Agreements**		—		427,640		—		427,640
Total Assets	$	94,662,960	$	17,666,469	$	—	$	112,329,429

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

NASDAQ-100® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 83.2%
Technology - 40.5%
Apple, Inc.		39,602	$	9,227,266
Microsoft Corp.		19,360		8,330,608
NVIDIA Corp.		63,892		7,759,044
Broadcom, Inc.		31,176		5,377,860
Advanced Micro Devices, Inc.*		10,888		1,786,503
Adobe, Inc.*		2,983		1,544,538
QUALCOMM, Inc.		7,494		1,274,355
Texas Instruments, Inc.		6,142		1,268,753
Intuit, Inc.		1,881		1,168,101
Applied Materials, Inc.		5,546		1,120,569
Micron Technology, Inc.		7,460		773,677
Analog Devices, Inc.		3,340		768,768
Lam Research Corp.		874		713,254
KLA Corp.		904		700,067
Intel Corp.*		28,766		674,850
ASML Holding N.V. — Class G		634		528,280
Synopsys, Inc.*		1,033		523,101
Cadence Design Systems, Inc.*		1,842		499,237
Crowdstrike Holdings, Inc. — Class A*		1,566		439,216
Marvell Technology, Inc.		5,827		420,243
NXP Semiconductor N.V.		1,714		411,377
Roper Technologies, Inc.		721		401,193
Autodesk, Inc.*		1,450		399,446
Fortinet, Inc.*		5,146		399,072
Workday, Inc. — Class A*		1,433		350,240
Paychex, Inc.		2,421		324,874
Microchip Technology, Inc.		3,609		289,767
Cognizant Technology Solutions Corp. — Class A		3,335		257,396
Electronic Arts, Inc.		1,777		254,893
Datadog, Inc. — Class A*		2,093		240,821
ON Semiconductor Corp.*		2,882		209,262
ANSYS, Inc.*		588		187,354
Take-Two Interactive Software, Inc.*		1,179		181,224
Zscaler, Inc.*		1,018		174,017
Atlassian Corp. — Class A*		1,077		171,038
Super Micro Computer, Inc.*		395		164,478
GLOBALFOUNDRIES, Inc.*		3,711		149,368
MongoDB, Inc.*		498		134,634
ARM Holdings plc ADR*		842		120,414
Total Technology				49,719,158
Communications - 21.3%
Meta Platforms, Inc. — Class A		9,053		5,182,299
Amazon.com, Inc.*		27,337		5,093,703
Alphabet, Inc. — Class A		15,260		2,530,871
Alphabet, Inc. — Class C		14,547		2,432,113
Netflix, Inc.*		2,887		2,047,663
T-Mobile US, Inc.		7,849		1,619,719
Cisco Systems, Inc.		27,103		1,442,422
Comcast Corp. — Class A		25,989		1,085,560
Booking Holdings, Inc.		226		951,939
Palo Alto Networks, Inc.*		2,178		744,441
MercadoLibre, Inc.*		341		699,718
PDD Holdings, Inc. ADR*		4,493		605,701
Airbnb, Inc. — Class A*		2,960		375,358
DoorDash, Inc. — Class A*		2,588		369,385
Trade Desk, Inc. — Class A*		3,012		330,266
Charter Communications, Inc. — Class A*		961		311,441
CDW Corp.		899		203,444
Warner Bros Discovery, Inc.*		16,496		136,092
Total Communications				26,162,135
Consumer, Non-cyclical - 9.6%
PepsiCo, Inc.		9,240		1,571,262
Intuitive Surgical, Inc.*		2,391		1,174,627
Amgen, Inc.		3,615		1,164,789
Vertex Pharmaceuticals, Inc.*		1,736		807,379
Regeneron Pharmaceuticals, Inc.*		729		766,354
Automatic Data Processing, Inc.		2,743		759,070
Gilead Sciences, Inc.		8,376		702,244
Mondelez International, Inc. — Class A		8,986		661,998
Cintas Corp.		2,712		558,347
PayPal Holdings, Inc.*		6,878		536,690
Monster Beverage Corp.*		6,590		343,800
Keurig Dr Pepper, Inc.		9,123		341,930
AstraZeneca plc ADR		3,917		305,173
GE HealthCare Technologies, Inc.		3,072		288,307
Kraft Heinz Co.		8,134		285,585
IDEXX Laboratories, Inc.*		554		279,892
Verisk Analytics, Inc. — Class A		958		256,706
Coca-Cola Europacific Partners plc		3,089		243,259
Biogen, Inc.*		980		189,963
Dexcom, Inc.*		2,696		180,740
Moderna, Inc.*		2,586		172,822
Illumina, Inc.*		1,072		139,800
Total Consumer, Non-cyclical				11,730,737
Consumer, Cyclical - 7.5%
Tesla, Inc.*		12,595		3,295,230
Costco Wholesale Corp.		2,983		2,644,489
Starbucks Corp.		7,624		743,264
Marriott International, Inc. — Class A		1,894		470,848
O'Reilly Automotive, Inc.*		390		449,124
PACCAR, Inc.		3,527		348,044
Copart, Inc.*		6,474		339,238
Ross Stores, Inc.		2,244		337,744
Fastenal Co.		3,852		275,110
Lululemon Athletica, Inc.*		792		214,909
Dollar Tree, Inc.*		1,446		101,683
Total Consumer, Cyclical				9,219,683
Industrial - 1.3%
Honeywell International, Inc.		4,371		903,530
CSX Corp.		13,043		450,375
Old Dominion Freight Line, Inc.		1,443		286,637
Total Industrial				1,640,542
Basic Materials - 1.2%
Linde plc		3,213		1,532,151
Utilities - 1.2%
Constellation Energy Corp.		2,104		547,082
American Electric Power Company, Inc.		3,580		367,308
Exelon Corp.		6,731		272,942

NASDAQ-100® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 83.2% (continued)
Utilities - 1.2% (continued)
Xcel Energy, Inc.		3,750	$	244,875
Total Utilities				1,432,207
Energy - 0.4%
Baker Hughes Co.		6,683		241,591
Diamondback Energy, Inc.		1,200		206,880
Total Energy				448,471
Financial - 0.2%
CoStar Group, Inc.*		2,758		208,064
Total Common Stocks
(Cost $43,946,055)				102,093,148
MUTUAL FUNDS† - 14.4%
Guggenheim Ultra Short Duration Fund — Institutional Class1		909,569		9,113,877
Guggenheim Strategy Fund II1		347,696		8,622,866
Total Mutual Funds
(Cost $17,605,877)				17,736,743

		Face Amount
U.S. TREASURY BILLS†† - 0.7%
U.S. Treasury Bills
4.63% due 10/10/242,3	$	696,000		695,192
4.85% due 12/12/243,4		150,000		148,659
Total U.S. Treasury Bills
(Cost $843,652)				843,851
REPURCHASE AGREEMENTS††,5 - 2.1%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/244		1,404,759		1,404,759
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/244		1,160,265		1,160,265
Total Repurchase Agreements
(Cost $2,565,024)				2,565,024
Total Investments - 100.4%
(Cost $64,960,608)			$	123,238,766
Other Assets & Liabilities, net - (0.4)%				(502,486	)
Total Net Assets - 100.0%			$	122,736,280

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
NASDAQ-100 Index Mini Futures Contracts		36	Dec 2024	$	14,594,940	$	373,224

Total Return Swap Agreements
Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements††
Goldman Sachs International	NASDAQ-100 Index	Pay	5.33% (Federal Funds Rate + 0.50%)	At Maturity	12/18/24		152	$	3,057,897	$	13,429
Barclays Bank plc	NASDAQ-100 Index	Pay	5.54% (SOFR + 0.70%)	At Maturity	12/19/24		90		1,803,907		10,420
BNP Paribas	NASDAQ-100 Index	Pay	5.73% (Federal Funds Rate + 0.90%)	At Maturity	12/19/24		56		1,123,110		4,944
								$	5,984,914	$	28,793

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	All or a portion of this security is pledged as futures collateral at September 30, 2024.
3	Rate indicated is the effective yield at the time of purchase.
4	All or a portion of this security is pledged as equity index swap collateral at September 30, 2024.
5	Repurchase Agreements — See Note 4.

ADR — American Depositary Receipt

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

NASDAQ-100® Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	102,093,148	$	—	$	—	$	102,093,148
Mutual Funds		17,736,743		—		—		17,736,743
U.S. Treasury Bills		—		843,851		—		843,851
Repurchase Agreements		—		2,565,024		—		2,565,024
Equity Futures Contracts**		373,224		—		—		373,224
Equity Index Swap Agreements**		—		28,793		—		28,793
Total Assets	$	120,203,115	$	3,437,668	$	—	$	123,640,783

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

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows:

Security Name	Value 12/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	8,518,558	$	–	$	–	$	–	$	104,308	$	8,622,866		347,696	$	365,118
Guggenheim Ultra Short Duration Fund — Institutional Class		8,959,250		–		–		–		154,627		9,113,877		909,569		351,686
	$	17,477,808	$	–	$	–	$	–	$	258,935	$	17,736,743			$	716,804

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 69.7%
Technology - 21.4%
Apple, Inc.		8,999	$	2,096,767
Microsoft Corp.		4,400		1,893,320
NVIDIA Corp.		14,561		1,768,288
Broadcom, Inc.		2,756		475,410
Oracle Corp.		946		161,198
Advanced Micro Devices, Inc.*		958		157,189
Salesforce, Inc.		574		157,110
Adobe, Inc.*		262		135,658
Accenture plc — Class A		371		131,141
International Business Machines Corp.		545		120,488
QUALCOMM, Inc.		659		112,063
Texas Instruments, Inc.		540		111,548
ServiceNow, Inc.*		122		109,116
Intuit, Inc.		165		102,465
Applied Materials, Inc.		490		99,004
Micron Technology, Inc.		656		68,034
Analog Devices, Inc.		294		67,670
Lam Research Corp.		77		62,838
KLA Corp.		80		61,953
Fiserv, Inc.*		341		61,261
Intel Corp.*		2,526		59,260
Synopsys, Inc.*		91		46,081
Palantir Technologies, Inc. — Class A*		1,192		44,342
Cadence Design Systems, Inc.*		162		43,907
Crowdstrike Holdings, Inc. — Class A*		137		38,424
NXP Semiconductor N.V.		151		36,242
Autodesk, Inc.*		128		35,261
Roper Technologies, Inc.		63		35,056
Fortinet, Inc.*		376		29,159
Fair Isaac Corp.*		15		29,153
MSCI, Inc. — Class A		47		27,398
TE Connectivity plc		180		27,178
Fidelity National Information Services, Inc.		323		27,051
Monolithic Power Systems, Inc.		29		26,810
Microchip Technology, Inc.		318		25,532
Paychex, Inc.		190		25,496
Gartner, Inc.*		46		23,311
Cognizant Technology Solutions Corp. — Class A		293		22,614
HP, Inc.		579		20,769
Electronic Arts, Inc.		142		20,368
Dell Technologies, Inc. — Class C		170		20,152
ON Semiconductor Corp.*		254		18,443
ANSYS, Inc.*		52		16,569
Hewlett Packard Enterprise Co.		769		15,734
NetApp, Inc.		122		15,068
Broadridge Financial Solutions, Inc.		69		14,837
Take-Two Interactive Software, Inc.*		96		14,756
Tyler Technologies, Inc.*		25		14,593
Seagate Technology Holdings plc		124		13,582
Western Digital Corp.*		193		13,180
Leidos Holdings, Inc.		80		13,040
Teradyne, Inc.		97		12,991
PTC, Inc.*		71		12,827
Super Micro Computer, Inc.*		30		12,492
Zebra Technologies Corp. — Class A*		31		11,480
Skyworks Solutions, Inc.		95		9,383
Akamai Technologies, Inc.*		90		9,085
Jack Henry & Associates, Inc.		43		7,591
EPAM Systems, Inc.*		34		6,767
Qorvo, Inc.*		56		5,785
Dayforce, Inc.*		94		5,758
Paycom Software, Inc.		29		4,831
Amentum Holdings, Inc.*		74		2,386
Total Technology				8,867,263
Consumer, Non-cyclical - 12.1%
Eli Lilly & Co.		467		413,734
UnitedHealth Group, Inc.		547		319,820
Procter & Gamble Co.		1,394		241,441
Johnson & Johnson		1,425		230,936
AbbVie, Inc.		1,046		206,564
Merck & Company, Inc.		1,501		170,454
Coca-Cola Co.		2,296		164,991
Thermo Fisher Scientific, Inc.		226		139,797
PepsiCo, Inc.		813		138,251
Abbott Laboratories		1,030		117,430
Philip Morris International, Inc.		920		111,688
Danaher Corp.		380		105,648
Intuitive Surgical, Inc.*		210		103,167
Amgen, Inc.		318		102,463
S&P Global, Inc.		190		98,158
Pfizer, Inc.		3,354		97,065
Stryker Corp.		203		73,336
Boston Scientific Corp.*		872		73,074
Elevance Health, Inc.		137		71,240
Vertex Pharmaceuticals, Inc.*		153		71,157
Medtronic plc		759		68,333
Automatic Data Processing, Inc.		241		66,692
Regeneron Pharmaceuticals, Inc.*		63		66,228
Bristol-Myers Squibb Co.		1,200		62,088
Gilead Sciences, Inc.		737		61,790
Mondelez International, Inc. — Class A		791		58,273
Cigna Group		165		57,163
Zoetis, Inc.		268		52,362
Altria Group, Inc.		1,010		51,550
Colgate-Palmolive Co.		484		50,244
PayPal Holdings, Inc.*		605		47,208
CVS Health Corp.		745		46,846
HCA Healthcare, Inc.		110		44,707
Moody's Corp.		93		44,137
Cintas Corp.		203		41,794
Becton Dickinson & Co.		171		41,228
McKesson Corp.		77		38,070
United Rentals, Inc.		39		31,580
Kimberly-Clark Corp.		199		28,314
Kenvue, Inc.		1,134		26,229
Quanta Services, Inc.		87		25,939
Agilent Technologies, Inc.		173		25,687
GE HealthCare Technologies, Inc.		270		25,339
IDEXX Laboratories, Inc.*		49		24,756

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 69.7% (continued)
Consumer, Non-cyclical - 12.1% (continued)
IQVIA Holdings, Inc.*	103	$	24,408
General Mills, Inc.	329		24,297
Corteva, Inc.	410		24,104
Constellation Brands, Inc. — Class A	93		23,965
Edwards Lifesciences Corp.*	357		23,558
Keurig Dr Pepper, Inc.	626		23,462
Centene Corp.*	311		23,412
Cencora, Inc. — Class A	103		23,183
Sysco Corp.	291		22,715
Kroger Co.	393		22,519
Verisk Analytics, Inc. — Class A	84		22,509
Humana, Inc.	71		22,489
Monster Beverage Corp.*	417		21,755
Equifax, Inc.	73		21,452
ResMed, Inc.	87		21,238
Kraft Heinz Co.	522		18,327
Archer-Daniels-Midland Co.	283		16,907
Hershey Co.	87		16,685
Biogen, Inc.*	86		16,670
Cardinal Health, Inc.	144		15,915
Dexcom, Inc.*	237		15,888
Global Payments, Inc.	151		15,465
Church & Dwight Company, Inc.	145		15,184
STERIS plc	58		14,067
Estee Lauder Companies, Inc. — Class A	138		13,757
Moderna, Inc.*	200		13,366
Zimmer Biomet Holdings, Inc.	121		13,062
Cooper Companies, Inc.*	118		13,020
West Pharmaceutical Services, Inc.	43		12,907
Kellanova	159		12,833
Corpay, Inc.*	41		12,823
Waters Corp.*	35		12,596
McCormick & Company, Inc.	149		12,263
Molina Healthcare, Inc.*	35		12,060
Clorox Co.	73		11,892
Baxter International, Inc.	302		11,467
Labcorp Holdings, Inc.	50		11,174
Hologic, Inc.*	137		11,160
Align Technology, Inc.*	42		10,681
Avery Dennison Corp.	48		10,597
Quest Diagnostics, Inc.	66		10,246
Tyson Foods, Inc. — Class A	169		10,066
Insulet Corp.*	42		9,776
Revvity, Inc.	73		9,326
Conagra Brands, Inc.	284		9,236
Rollins, Inc.	166		8,396
Viatris, Inc.	707		8,208
Bunge Global S.A.	84		8,118
Universal Health Services, Inc. — Class B	35		8,015
J M Smucker Co.	63		7,629
Bio-Techne Corp.	93		7,433
Teleflex, Inc.	28		6,925
Catalent, Inc.*	107		6,481
Incyte Corp.*	95		6,280
Charles River Laboratories International, Inc.*	31		6,106
Molson Coors Beverage Co. — Class B	104		5,982
Campbell Soup Co.	117		5,723
Solventum Corp.*	82		5,717
MarketAxess Holdings, Inc.	22		5,636
Lamb Weston Holdings, Inc.	85		5,503
Henry Schein, Inc.*	75		5,467
Hormel Foods Corp.	172		5,452
Brown-Forman Corp. — Class B	109		5,363
DaVita, Inc.*	27		4,426
Total Consumer, Non-cyclical			4,994,313
Communications - 10.1%
Amazon.com, Inc.*	5,529		1,030,218
Meta Platforms, Inc. — Class A	1,293		740,165
Alphabet, Inc. — Class A	3,468		575,168
Alphabet, Inc. — Class C	2,843		475,321
Netflix, Inc.*	254		180,155
Cisco Systems, Inc.	2,385		126,930
Verizon Communications, Inc.	2,492		111,916
Walt Disney Co.	1,074		103,308
Comcast Corp. — Class A	2,287		95,528
Uber Technologies, Inc.*	1,244		93,499
AT&T, Inc.	4,245		93,390
Booking Holdings, Inc.	20		84,242
Palo Alto Networks, Inc.*	192		65,626
T-Mobile US, Inc.	290		59,844
Arista Networks, Inc.*	152		58,341
Motorola Solutions, Inc.	99		44,513
Airbnb, Inc. — Class A*	260		32,971
Corning, Inc.	456		20,588
eBay, Inc.	289		18,817
Charter Communications, Inc. — Class A*	57		18,473
CDW Corp.	79		17,878
GoDaddy, Inc. — Class A*	83		13,013
Omnicom Group, Inc.	116		11,993
Expedia Group, Inc.*	74		10,953
Warner Bros Discovery, Inc.*	1,321		10,898
FactSet Research Systems, Inc.	23		10,577
VeriSign, Inc.*	50		9,498
Gen Digital, Inc.	321		8,805
F5, Inc.*	35		7,707
Juniper Networks, Inc.	195		7,601
Interpublic Group of Companies, Inc.	222		7,022
News Corp. — Class A	224		5,965
Match Group, Inc.*	153		5,789
Fox Corp. — Class A	133		5,630
Paramount Global — Class B	352		3,738
Fox Corp. — Class B	78		3,026
News Corp. — Class B	66		1,845
Total Communications			4,170,951
Financial - 9.8%
Berkshire Hathaway, Inc. — Class B*	1,084		498,922
JPMorgan Chase & Co.	1,684		355,088
Visa, Inc. — Class A	989		271,926
Mastercard, Inc. — Class A	488		240,974
Bank of America Corp.	3,996		158,561
Wells Fargo & Co.	2,015		113,827
Goldman Sachs Group, Inc.	187		92,586

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 69.7% (continued)
Financial - 9.8% (continued)
American Express Co.	332	$	90,038
Progressive Corp.	347		88,055
BlackRock, Inc. — Class A	82		77,860
Morgan Stanley	737		76,825
Citigroup, Inc.	1,129		70,675
Prologis, Inc. REIT	548		69,201
Blackstone, Inc. — Class A	426		65,233
Marsh & McLennan Companies, Inc.	291		64,919
American Tower Corp. — Class A REIT	276		64,187
Chubb Ltd.	222		64,023
Charles Schwab Corp.	884		57,292
Intercontinental Exchange, Inc.	340		54,618
KKR & Company, Inc. — Class A	399		52,102
Equinix, Inc. REIT	56		49,707
CME Group, Inc. — Class A	213		46,998
Aon plc — Class A	129		44,633
Welltower, Inc. REIT	343		43,914
PNC Financial Services Group, Inc.	235		43,440
U.S. Bancorp	924		42,254
Arthur J Gallagher & Co.	130		36,578
Truist Financial Corp.	793		33,917
Public Storage REIT	93		33,840
Capital One Financial Corp.	226		33,839
Aflac, Inc.	298		33,316
Realty Income Corp. REIT	516		32,725
Travelers Companies, Inc.	135		31,606
Bank of New York Mellon Corp.	437		31,403
Simon Property Group, Inc. REIT	181		30,593
Crown Castle, Inc. REIT	257		30,488
Allstate Corp.	156		29,585
Digital Realty Trust, Inc. REIT	182		29,453
MetLife, Inc.	348		28,703
American International Group, Inc.	381		27,901
Ameriprise Financial, Inc.	58		27,249
Prudential Financial, Inc.	211		25,552
Arch Capital Group Ltd.*	222		24,837
Extra Space Storage, Inc. REIT	125		22,524
CBRE Group, Inc. — Class A*	178		22,157
Discover Financial Services	149		20,903
Iron Mountain, Inc. REIT	174		20,676
VICI Properties, Inc. REIT	620		20,652
Hartford Financial Services Group, Inc.	173		20,347
AvalonBay Communities, Inc. REIT	84		18,921
CoStar Group, Inc.*	243		18,332
Nasdaq, Inc.	245		17,887
Willis Towers Watson plc	60		17,672
M&T Bank Corp.	99		17,634
Fifth Third Bancorp	401		17,179
Ventas, Inc. REIT	245		15,712
State Street Corp.	177		15,659
SBA Communications Corp. REIT	64		15,405
Equity Residential REIT	202		15,041
Weyerhaeuser Co. REIT	431		14,594
Brown & Brown, Inc.	140		14,504
T. Rowe Price Group, Inc.	132		14,379
Raymond James Financial, Inc.	110		13,471
Cboe Global Markets, Inc.	62		12,702
Regions Financial Corp.	542		12,645
Huntington Bancshares, Inc.	860		12,642
Cincinnati Financial Corp.	92		12,523
Invitation Homes, Inc. REIT	337		11,883
Synchrony Financial	234		11,672
Essex Property Trust, Inc. REIT	38		11,226
Mid-America Apartment Communities, Inc. REIT	69		10,964
Alexandria Real Estate Equities, Inc. REIT	92		10,925
Citizens Financial Group, Inc.	265		10,883
Principal Financial Group, Inc.	126		10,823
Northern Trust Corp.	119		10,714
Everest Group Ltd.	26		10,188
W R Berkley Corp.	178		10,098
Healthpeak Properties, Inc. REIT	417		9,537
Kimco Realty Corp. REIT	399		9,265
KeyCorp	549		9,196
Loews Corp.	108		8,537
Erie Indemnity Co. — Class A	15		8,097
UDR, Inc. REIT	178		8,070
Camden Property Trust REIT	63		7,782
Host Hotels & Resorts, Inc. REIT	416		7,322
Regency Centers Corp. REIT	97		7,006
BXP, Inc. REIT	86		6,919
Assurant, Inc.	31		6,165
Globe Life, Inc.	53		5,613
Federal Realty Investment Trust REIT	45		5,174
Invesco Ltd.	266		4,671
Franklin Resources, Inc.	183		3,688
Total Financial			4,040,022
Consumer, Cyclical - 5.8%
Tesla, Inc.*	1,642		429,596
Home Depot, Inc.	587		237,852
Costco Wholesale Corp.	262		232,268
Walmart, Inc.	2,571		207,608
McDonald's Corp.	425		129,417
Lowe's Companies, Inc.	337		91,276
TJX Companies, Inc.	669		78,634
Starbucks Corp.	671		65,416
NIKE, Inc. — Class B	711		62,852
Chipotle Mexican Grill, Inc. — Class A*	811		46,730
Target Corp.	274		42,706
O'Reilly Automotive, Inc.*	34		39,154
Marriott International, Inc. — Class A	138		34,307
Hilton Worldwide Holdings, Inc.	146		33,653
DR Horton, Inc.	174		33,194
AutoZone, Inc.*	10		31,500
PACCAR, Inc.	310		30,591
General Motors Co.	665		29,819
Ross Stores, Inc.	197		29,651
Copart, Inc.*	518		27,143
WW Grainger, Inc.	26		27,009
Lennar Corp. — Class A	143		26,810
Cummins, Inc.	81		26,227

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 69.7% (continued)
Consumer, Cyclical - 5.8% (continued)
Royal Caribbean Cruises Ltd.	140	$	24,830
Ford Motor Co.	2,311		24,404
Fastenal Co.	339		24,211
Yum! Brands, Inc.	166		23,192
NVR, Inc.*	2		19,623
Delta Air Lines, Inc.	380		19,300
Tractor Supply Co.	64		18,620
Lululemon Athletica, Inc.*	68		18,452
PulteGroup, Inc.	123		17,654
Deckers Outdoor Corp.*	90		14,351
Best Buy Company, Inc.	116		11,983
Darden Restaurants, Inc.	70		11,489
Genuine Parts Co.	82		11,454
Aptiv plc*	157		11,306
United Airlines Holdings, Inc.*	195		11,127
Carnival Corp.*	598		11,051
Dollar General Corp.	130		10,994
Ulta Beauty, Inc.*	28		10,895
Las Vegas Sands Corp.	209		10,521
Southwest Airlines Co.	355		10,519
Live Nation Entertainment, Inc.*	93		10,182
Domino's Pizza, Inc.	21		9,033
Pool Corp.	23		8,667
Dollar Tree, Inc.*	120		8,438
CarMax, Inc.*	92		7,119
Tapestry, Inc.	136		6,389
LKQ Corp.	156		6,228
Hasbro, Inc.	78		5,641
MGM Resorts International*	137		5,355
Caesars Entertainment, Inc.*	128		5,343
Norwegian Cruise Line Holdings Ltd.*	260		5,333
Wynn Resorts Ltd.	55		5,274
BorgWarner, Inc.	135		4,899
Ralph Lauren Corp. — Class A	24		4,653
Walgreens Boots Alliance, Inc.	424		3,799
Total Consumer, Cyclical			2,405,742
Industrial - 5.1%
General Electric Co.	642		121,068
Caterpillar, Inc.	287		112,251
RTX Corp.	787		95,353
Union Pacific Corp.	361		88,979
Honeywell International, Inc.	385		79,583
Eaton Corporation plc	236		78,220
Lockheed Martin Corp.	126		73,655
Deere & Co.	152		63,434
United Parcel Service, Inc. — Class B	434		59,172
Boeing Co.*	347		52,758
Trane Technologies plc	134		52,090
Parker-Hannifin Corp.	76		48,018
TransDigm Group, Inc.	33		47,095
Amphenol Corp. — Class A	713		46,459
General Dynamics Corp.	153		46,237
Waste Management, Inc.	216		44,842
3M Co.	325		44,428
Northrop Grumman Corp.	81		42,774
Illinois Tool Works, Inc.	160		41,931
GE Vernova, Inc.*	163		41,562
Carrier Global Corp.	497		40,003
CSX Corp.	1,148		39,640
Emerson Electric Co.	339		37,076
FedEx Corp.	133		36,399
Norfolk Southern Corp.	134		33,299
Johnson Controls International plc	395		30,656
L3Harris Technologies, Inc.	112		26,641
Otis Worldwide Corp.	237		24,634
Republic Services, Inc. — Class A	121		24,302
Howmet Aerospace, Inc.	242		24,260
AMETEK, Inc.	137		23,524
Ingersoll Rand, Inc.	239		23,460
Old Dominion Freight Line, Inc.	112		22,248
Vulcan Materials Co.	78		19,534
Mettler-Toledo International, Inc.*	13		19,496
Xylem, Inc.	144		19,444
Martin Marietta Materials, Inc.	36		19,377
Westinghouse Air Brake Technologies Corp.	104		18,904
Rockwell Automation, Inc.	67		17,987
Axon Enterprise, Inc.*	43		17,183
Keysight Technologies, Inc.*	103		16,370
Fortive Corp.	207		16,339
Veralto Corp.	146		16,331
Garmin Ltd.	91		16,019
Dover Corp.	81		15,531
Smurfit WestRock plc	292		14,431
Hubbell, Inc.	32		13,707
Builders FirstSource, Inc.*	69		13,376
Teledyne Technologies, Inc.*	28		12,255
Ball Corp.	180		12,224
Packaging Corporation of America	53		11,416
Expeditors International of Washington, Inc.	84		11,038
Masco Corp.	129		10,828
Stanley Black & Decker, Inc.	91		10,022
Textron, Inc.	111		9,832
Amcor plc	856		9,698
Jacobs Solutions, Inc.	74		9,687
IDEX Corp.	45		9,653
Pentair plc	98		9,583
Trimble, Inc.*	145		9,003
Snap-on, Inc.	31		8,981
Nordson Corp.	32		8,404
J.B. Hunt Transport Services, Inc.	48		8,272
Jabil, Inc.	67		8,029
CH Robinson Worldwide, Inc.	69		7,615
Allegion plc	52		7,578
A O Smith Corp.	71		6,378
Huntington Ingalls Industries, Inc.	23		6,081
Generac Holdings, Inc.*	36		5,720
Mohawk Industries, Inc.*	31		4,981
Total Industrial			2,117,358
Energy - 2.4%
Exxon Mobil Corp.	2,630		308,289
Chevron Corp.	1,007		148,301
ConocoPhillips	687		72,327

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 69.7% (continued)
Energy - 2.4% (continued)
EOG Resources, Inc.	337	$	41,427
Schlumberger N.V.	841		35,280
Williams Companies, Inc.	722		32,959
Phillips 66	248		32,600
Marathon Petroleum Corp.	198		32,256
ONEOK, Inc.	346		31,531
Valero Energy Corp.	190		25,656
Kinder Morgan, Inc.	1,143		25,249
Hess Corp.	164		22,271
Baker Hughes Co.	588		21,256
Occidental Petroleum Corp.	399		20,564
Targa Resources Corp.	130		19,242
Diamondback Energy, Inc.	111		19,136
First Solar, Inc.*	63		15,715
Halliburton Co.	523		15,193
Devon Energy Corp.	371		14,514
Equities Corp.	352		12,897
Coterra Energy, Inc. — Class A	438		10,490
Enphase Energy, Inc.*	80		9,041
Marathon Oil Corp.	331		8,815
APA Corp.	219		5,357
Total Energy			980,366
Utilities - 1.7%
NextEra Energy, Inc.	1,216		102,788
Southern Co.	647		58,346
Duke Energy Corp.	457		52,692
Constellation Energy Corp.	185		48,104
American Electric Power Company, Inc.	315		32,319
Sempra	375		31,361
Dominion Energy, Inc.	497		28,722
Public Service Enterprise Group, Inc.	295		26,317
PG&E Corp.	1,265		25,009
Vistra Corp.	203		24,064
Exelon Corp.	592		24,006
Xcel Energy, Inc.	330		21,549
Consolidated Edison, Inc.	205		21,347
Edison International	229		19,944
WEC Energy Group, Inc.	187		17,986
American Water Works Company, Inc.	115		16,818
Entergy Corp.	127		16,714
DTE Energy Co.	123		15,794
PPL Corp.	437		14,456
Eversource Energy	212		14,427
Ameren Corp.	158		13,819
FirstEnergy Corp.	303		13,438
Atmos Energy Corp.	92		12,761
CMS Energy Corp.	177		12,501
CenterPoint Energy, Inc.	386		11,356
NRG Energy, Inc.	122		11,114
Alliant Energy Corp.	152		9,225
NiSource, Inc.	266		9,217
AES Corp.	421		8,445
Evergy, Inc.	136		8,433
Pinnacle West Capital Corp.	67		5,936
Total Utilities			729,008
Basic Materials - 1.3%
Linde plc	285		135,905
Sherwin-Williams Co.	137		52,289
Freeport-McMoRan, Inc.	851		42,482
Air Products and Chemicals, Inc.	132		39,302
Ecolab, Inc.	150		38,299
Newmont Corp.	679		36,293
Dow, Inc.	415		22,671
DuPont de Nemours, Inc.	247		22,010
Nucor Corp.	140		21,047
PPG Industries, Inc.	138		18,279
International Flavors & Fragrances, Inc.	151		15,844
LyondellBasell Industries N.V. — Class A	154		14,769
Steel Dynamics, Inc.	85		10,717
International Paper Co.	206		10,063
CF Industries Holdings, Inc.	107		9,181
Celanese Corp. — Class A	65		8,837
Eastman Chemical Co.	69		7,725
Albemarle Corp.	70		6,630
Mosaic Co.	189		5,061
FMC Corp.	74		4,880
Total Basic Materials			522,284
Total Common Stocks
(Cost $18,672,924)			28,827,307
MUTUAL FUNDS† - 9.6%
Guggenheim Ultra Short Duration Fund — Institutional Class1	202,415		2,028,198
Guggenheim Strategy Fund II1	78,932		1,957,502
Total Mutual Funds
(Cost $3,941,469)			3,985,700

		Face Amount
U.S. TREASURY BILLS†† - 2.6%
U.S. Treasury Bills
4.63% due 10/10/242,3	$	610,000		609,292
4.85% due 12/12/243,4		450,000		445,977
Total U.S. Treasury Bills
(Cost $1,054,851)				1,055,269
REPURCHASE AGREEMENTS††,5 - 19.4%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/244		4,394,671		4,394,671
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/244		3,629,794		3,629,794
Total Repurchase Agreements
(Cost $8,024,466)				8,024,465
Total Investments - 101.3%
(Cost $31,693,710)			$	41,892,741
Other Assets & Liabilities, net - (1.3)%				(544,346	)
Total Net Assets - 100.0%			$	41,348,395

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
S&P 500 Index Mini Futures Contracts		42	Dec 2024	$	12,213,600	$	213,121

Total Return Swap Agreements          

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements††
Goldman Sachs International	S&P 500 Index	Pay	5.33% (Federal Funds Rate + 0.50%)	At Maturity	12/18/24		1,883	$	10,851,686	$	63,959
BNP Paribas	S&P 500 Index	Pay	5.68% (Federal Funds Rate + 0.85%)	At Maturity	12/19/24		881		5,079,286		28,320
Barclays Bank plc	S&P 500 Index	Pay	5.44% (SOFR + 0.60%)	At Maturity	12/19/24		871		5,018,696		25,733
								$	20,949,668	$	118,012

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Affiliated issuer.
2	All or a portion of this security is pledged as futures collateral at September 30, 2024.
3	Rate indicated is the effective yield at the time of purchase.
4	All or a portion of this security is pledged as equity index swap collateral at September 30, 2024.
5	Repurchase Agreements — See Note 4.

plc — Public Limited Company

REIT — Real Estate Investment Trust

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	28,827,307	$	—	$	—	$	28,827,307
Mutual Funds		3,985,700		—		—		3,985,700
U.S. Treasury Bills		—		1,055,269		—		1,055,269
Repurchase Agreements		—		8,024,465		—		8,024,465
Equity Futures Contracts**		213,121		—		—		213,121
Equity Index Swap Agreements**		—		118,012		—		118,012
Total Assets	$	33,026,128	$	9,197,746	$	—	$	42,223,874

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

Nova Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows:  

Security Name	Value 12/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	1,933,823	$	–	$	–	$	–	$	23,679	$	1,957,502		78,932	$	82,887
Guggenheim Ultra Short Duration Fund — Institutional Class		1,993,787		–		–		–		34,411		2,028,198		202,415		78,264
	$	3,927,610	$	–	$	–	$	–	$	58,090	$	3,985,700			$	161,151

Precious Metals Fund
SCHEDULE OF INVESTMENTS (Unaudited)  
September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.1%
Mining - 99.1%
Freeport-McMoRan, Inc.		63,975	$	3,193,632
Newmont Corp.		50,887		2,719,910
Agnico Eagle Mines Ltd.		26,043		2,098,024
Barrick Gold Corp.		99,836		1,985,738
Wheaton Precious Metals Corp.		29,544		1,804,548
Gold Fields Ltd. ADR		85,538		1,313,008
Franco-Nevada Corp.		9,784		1,215,662
Kinross Gold Corp.		121,764		1,139,711
Anglogold Ashanti plc1		39,682		1,056,732
Royal Gold, Inc.		7,430		1,042,429
Alamos Gold, Inc. — Class A		49,303		983,102
Pan American Silver Corp.		45,120		941,654
Hecla Mining Co.		104,841		699,289
Osisko Gold Royalties Ltd.		35,025		648,313
Eldorado Gold Corp.*		36,452		633,171
Harmony Gold Mining Company Ltd. ADR		59,430		604,403
IAMGOLD Corp.*		109,646		573,449
Coeur Mining, Inc.*		76,461		526,052
Equinox Gold Corp.*		85,800		522,522
B2Gold Corp.		165,851		510,821
Sibanye Stillwater Ltd. ADR1		122,232		502,373
Sandstorm Gold Ltd.		76,230		457,380
First Majestic Silver Corp.1		74,670		448,020
MAG Silver Corp.*		29,541		414,756
Fortuna Mining Corp.*		87,738		406,227
SilverCrest Metals, Inc.*		43,828		405,409
Seabridge Gold, Inc.*		22,798		382,778
SSR Mining, Inc.*		63,767		362,197
New Gold, Inc.*		119,961		345,488
Silvercorp Metals, Inc.		78,259		341,992
Novagold Resources, Inc.*		80,858		331,518
Endeavour Silver Corp.*		74,592		293,892
Gatos Silver, Inc.*		18,992		286,399
McEwen Mining, Inc.*		23,320		216,876
Total Mining				29,407,475
Total Common Stocks
(Cost $16,596,009)				29,407,475

		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.8%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	128,693	128,693
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		106,295	106,295
Total Repurchase Agreements
(Cost $234,988)			234,988

	Shares
SECURITIES LENDING COLLATERAL†,3 - 3.5%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4	1,044,860		1,044,860
Total Securities Lending Collateral
(Cost $1,044,860)			1,044,860
Total Investments - 103.4%
(Cost $17,875,857)		$	30,687,323
Other Assets & Liabilities, net - (3.4)%			(1,019,267	)
Total Net Assets - 100.0%		$	29,668,056

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.
	ADR — American Depositary Receipt
	plc — Public Limited Company
	See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	29,407,475	$	—	$	—	$	29,407,475
Repurchase Agreements		—		234,988		—		234,988
Securities Lending Collateral		1,044,860		—		—		1,044,860
Total Assets	$	30,452,335	$	234,988	$	—	$	30,687,323

Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.3%
REITs - 91.3%
REITs-Diversified - 22.1%
American Tower Corp. — Class A		1,080	$	251,165
Equinix, Inc.		249		221,020
Digital Realty Trust, Inc.		1,108		179,308
Crown Castle, Inc.		1,467		174,030
VICI Properties, Inc.		4,243		141,334
Weyerhaeuser Co.		3,676		124,469
SBA Communications Corp.		512		123,238
Lamar Advertising Co. — Class A		681		90,982
Gaming and Leisure Properties, Inc.		1,711		88,031
WP Carey, Inc.		1,412		87,968
EPR Properties		950		46,588
PotlatchDeltic Corp.		994		44,780
Outfront Media, Inc.		2,211		40,638
Uniti Group, Inc.*		5,199		29,322
Total REITs-Diversified				1,642,873
REITs-Apartments - 11.8%
AvalonBay Communities, Inc.		600		135,150
Equity Residential		1,671		124,423
Invitation Homes, Inc.		3,048		107,472
Mid-America Apartment Communities, Inc.		643		102,173
Essex Property Trust, Inc.		329		97,193
UDR, Inc.		2,025		91,813
Camden Property Trust		706		87,212
American Homes 4 Rent — Class A		2,127		81,656
Independence Realty Trust, Inc.		2,510		51,455
Total REITs-Apartments				878,547
REITs-Health Care - 11.1%
Welltower, Inc.		1,666		213,298
Ventas, Inc.		1,919		123,065
Alexandria Real Estate Equities, Inc.		906		107,587
Healthpeak Properties, Inc.		4,241		96,992
Omega Healthcare Investors, Inc.		1,920		78,144
Healthcare Realty Trust, Inc.		3,327		60,385
CareTrust REIT, Inc.		1,705		52,616
Sabra Health Care REIT, Inc.		2,683		49,931
Medical Properties Trust, Inc.1		7,582		44,355
Total REITs-Health Care				826,373
REITs-Warehouse/Industries - 9.7%
Prologis, Inc.		2,053		259,253
Rexford Industrial Realty, Inc.		1,608		80,898
EastGroup Properties, Inc.		391		73,047
Americold Realty Trust, Inc.		2,380		67,283
First Industrial Realty Trust, Inc.		1,173		65,665
STAG Industrial, Inc.		1,668		65,202
Terreno Realty Corp.		903		60,347
LXP Industrial Trust		4,108		41,285
Total REITs-Warehouse/Industries				712,980
REITs-Storage - 8.3%
Public Storage		510		185,574
Extra Space Storage, Inc.		832		149,918
Iron Mountain, Inc.		1,206		143,309
CubeSmart		1,554		83,652
National Storage Affiliates Trust		1,148		55,334
Total REITs-Storage				617,787
REITs-Shopping Centers - 6.3%
Kimco Realty Corp.		4,039		93,786
Regency Centers Corp.		1,212		87,543
Federal Realty Investment Trust		640		73,581
Brixmor Property Group, Inc.		2,511		69,956
Kite Realty Group Trust		2,182		57,954
Phillips Edison & Company, Inc.		1,437		54,189
Retail Opportunity Investments Corp.		2,105		33,112
Total REITs-Shopping Centers				470,121
REITs-Office Property - 6.0%
BXP, Inc.		1,029		82,793
Vornado Realty Trust		1,660		65,404
Kilroy Realty Corp.		1,375		53,212
Cousins Properties, Inc.		1,733		51,089
SL Green Realty Corp.		730		50,815
Highwoods Properties, Inc.		1,359		45,540
Douglas Emmett, Inc.		2,404		42,238
JBG SMITH Properties		1,675		29,279
Hudson Pacific Properties, Inc.*		4,128		19,732
Total REITs-Office Property				440,102
REITs-Hotels - 4.3%
Host Hotels & Resorts, Inc.		4,809		84,638
Ryman Hospitality Properties, Inc.		513		55,014
Apple Hospitality REIT, Inc.		2,951		43,822
Park Hotels & Resorts, Inc.		2,848		40,157
Sunstone Hotel Investors, Inc.		3,387		34,954
DiamondRock Hospitality Co.		3,705		32,345
Pebblebrook Hotel Trust		2,310		30,561
Total REITs-Hotels				321,491
REITs-Single Tenant - 4.3%
Realty Income Corp.		2,845		180,430
NNN REIT, Inc.		1,481		71,814
Agree Realty Corp.		869		65,462
Total REITs-Single Tenant				317,706
REITs-Regional Malls - 3.7%
Simon Property Group, Inc.		1,053		177,978
Macerich Co.		2,743		50,032
Tanger, Inc.		1,398		46,386
Total REITs-Regional Malls				274,396
REITs-Manufactured Homes - 2.4%
Sun Communities, Inc.		709		95,821
Equity LifeStyle Properties, Inc.		1,147		81,827
Total REITs-Manufactured Homes				177,648
REITs-Single Tenant - 0.8%
Essential Properties Realty Trust, Inc.1		1,757		60,002
REITs-Shopping Centers - 0.5%
SITE Centers Corp.		588		35,574
Total REITs				6,775,600

Real Estate Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.3% (continued)
Real Estate - 6.1%
Real Estate Management/Services - 6.1%
CBRE Group, Inc. — Class A*		1,224	$	152,364
CoStar Group, Inc.*		1,750		132,020
Jones Lang LaSalle, Inc.*		248		66,913
Cushman & Wakefield plc*		3,208		43,725
Redfin Corp.*		2,468		30,924
eXp World Holdings, Inc.		1,903		26,813
Total Real Estate Management/Services				452,759
Total Real Estate				452,759
Internet - 1.4%
E-Commerce/Services - 1.4%
Zillow Group, Inc. — Class C*		1,457		93,029
Opendoor Technologies, Inc.*		5,654		11,308
Total E-Commerce/Services				104,337
Total Internet				104,337
Telecommunications - 0.5%
Telecom Services - 0.5%
DigitalBridge Group, Inc.		2,656		37,529
Total Common Stocks
(Cost $4,659,308)				7,370,225

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.7%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	26,670		26,670
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		22,029		22,029
Total Repurchase Agreements
(Cost $48,699)				48,699
		Shares
SECURITIES LENDING COLLATERAL†,3 - 1.1%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4		81,475		81,475
Total Securities Lending Collateral
(Cost $81,475)				81,475
Total Investments - 101.1%
(Cost $4,789,482)			$	7,500,399
Other Assets & Liabilities, net - (1.1)%				(78,826	)
Total Net Assets - 100.0%			$	7,421,573

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	7,370,225	$	—	$	—	$	7,370,225
Repurchase Agreements		—		48,699		—		48,699
Securities Lending Collateral		81,475		—		—		81,475
Total Assets	$	7,451,700	$	48,699	$	—	$	7,500,399

Retailing Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.5%
Retail - 68.3%
Walmart, Inc.		1,419	$	114,584
Costco Wholesale Corp.		120		106,382
Home Depot, Inc.		260		105,352
Lowe's Companies, Inc.		359		97,235
TJX Companies, Inc.		797		93,679
Carvana Co.*		399		69,470
O'Reilly Automotive, Inc.*		59		67,944
Target Corp.		419		65,305
Ross Stores, Inc.		376		56,592
Tractor Supply Co.		161		46,840
Williams-Sonoma, Inc.		248		38,420
Best Buy Company, Inc.		370		38,221
AutoZone, Inc.*		12		37,801
Genuine Parts Co.		261		36,457
Ulta Beauty, Inc.*		92		35,799
Dollar General Corp.		413		34,927
Dick's Sporting Goods, Inc.		157		32,766
Burlington Stores, Inc.*		123		32,408
Floor & Decor Holdings, Inc. — Class A*		251		31,167
Dollar Tree, Inc.*		433		30,449
CarMax, Inc.*		369		28,553
BJ's Wholesale Club Holdings, Inc.*		328		27,053
GameStop Corp. — Class A*		1,136		26,049
Bath & Body Works, Inc.		732		23,365
Murphy USA, Inc.		47		23,165
Lithia Motors, Inc. — Class A		72		22,870
Abercrombie & Fitch Co. — Class A*		153		21,405
Walgreens Boots Alliance, Inc.		2,277		20,402
RH*		59		19,731
Gap, Inc.		894		19,713
Ollie's Bargain Outlet Holdings, Inc.*		201		19,537
Boot Barn Holdings, Inc.*		115		19,237
AutoNation, Inc.*		107		19,145
Five Below, Inc.*		198		17,493
American Eagle Outfitters, Inc.		778		17,419
Macy's, Inc.		1,098		17,228
Signet Jewelers Ltd.		164		16,915
Academy Sports & Outdoors, Inc.		258		15,057
Nordstrom, Inc.		618		13,899
Urban Outfitters, Inc.*		352		13,485
Foot Locker, Inc.*		491		12,687
Kohl's Corp.		588		12,407
Advance Auto Parts, Inc.		317		12,360
Victoria's Secret & Co.*		474		12,182
National Vision Holdings, Inc.*		701		7,648
Leslie's, Inc.*		1,833		5,792
Total Retail				1,636,595
Internet - 26.7%
Amazon.com, Inc.*		1,190		221,733
PDD Holdings, Inc. ADR*		635		85,604
JD.com, Inc. ADR		1,500		60,000
Alibaba Group Holding Ltd. ADR		557		59,109
MercadoLibre, Inc.*		23		47,195
eBay, Inc.		709		46,163
Coupang, Inc.*		1,875		46,031
Chewy, Inc. — Class A*		863		25,277
Wayfair, Inc. — Class A*		426		23,933
Etsy, Inc.*		353		19,602
Beyond, Inc.*		524		5,282
Total Internet				639,929
Distribution & Wholesale - 2.4%
Pool Corp.		85		32,028
LKQ Corp.		658		26,268
Total Distribution & Wholesale				58,296
Software - 1.3%
Global-e Online Ltd*		808		31,059
Commercial Services - 0.8%
Valvoline, Inc.*		459		19,209
Total Common Stocks
(Cost $936,382)				2,385,088

		Face Amount
REPURCHASE AGREEMENTS††,1 - 1.2%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	15,560		15,560
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		12,852		12,852
Total Repurchase Agreements
(Cost $28,412)				28,412
Total Investments - 100.7%
(Cost $964,794)			$	2,413,500
Other Assets & Liabilities, net - (0.7)%				(17,005	)
Total Net Assets - 100.0%			$	2,396,495

^*  Non-income producing security.

Retailing Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Repurchase Agreements — See Note 4.

ADR — American Depositary Receipt

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	2,385,088	$	—	$	—	$	2,385,088
Repurchase Agreements		—		28,412		—		28,412
Total Assets	$	2,385,088	$	28,412	$	—	$	2,413,500

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3%
Financial - 8.3%
FTAI Aviation Ltd.		44	$	5,848
SouthState Corp.		33		3,207
Jackson Financial, Inc. — Class A		33		3,010
Essent Group Ltd.		45		2,893
Hamilton Lane, Inc. — Class A		17		2,863
Terreno Realty Corp. REIT		42		2,807
Ryman Hospitality Properties, Inc. REIT		25		2,681
Essential Properties Realty Trust, Inc. REIT		76		2,595
Mr Cooper Group, Inc.*		28		2,581
Old National Bancorp		137		2,556
Cadence Bank		79		2,516
Kite Realty Group Trust REIT		94		2,497
Selective Insurance Group, Inc.		26		2,426
Glacier Bancorp, Inc.		50		2,285
Piper Sandler Cos.		8		2,270
Radian Group, Inc.		65		2,255
Home BancShares, Inc.		81		2,194
Moelis & Co. — Class A		31		2,124
United Bankshares, Inc.		57		2,115
First Financial Bankshares, Inc.		57		2,110
SL Green Realty Corp. REIT		29		2,019
Independence Realty Trust, Inc. REIT		98		2,009
Phillips Edison & Company, Inc. REIT		53		1,999
UMB Financial Corp.		19		1,997
Hancock Whitney Corp.		38		1,944
Enstar Group Ltd.*		6		1,929
MARA Holdings, Inc.*		118		1,914
Sabra Health Care REIT, Inc.		100		1,861
CareTrust REIT, Inc.		59		1,821
Ameris Bancorp		29		1,809
ServisFirst Bancshares, Inc.		22		1,770
Macerich Co. REIT		94		1,715
HA Sustainable Infrastructure Capital, Inc.		49		1,689
Valley National Bancorp		186		1,685
Innovative Industrial Properties, Inc. REIT		12		1,615
Walker & Dunlop, Inc.		14		1,590
CNO Financial Group, Inc.		45		1,579
PotlatchDeltic Corp. REIT		35		1,577
Broadstone Net Lease, Inc. REIT		82		1,554
StepStone Group, Inc. — Class A		27		1,534
Tanger, Inc. REIT		46		1,526
National Health Investors, Inc. REIT		18		1,513
United Community Banks, Inc.		52		1,512
Axos Financial, Inc.*		24		1,509
COPT Defense Properties REIT		49		1,486
First BanCorp		70		1,482
Atlantic Union Bankshares Corp.		39		1,469
Apple Hospitality REIT, Inc.		98		1,455
Baldwin Insurance Group, Inc. — Class A*		29		1,444
BGC Group, Inc. — Class A		157		1,441
Texas Capital Bancshares, Inc.*		20		1,429
Blackstone Mortgage Trust, Inc. — Class A REIT1		75		1,426
Fulton Financial Corp.		78		1,414
NMI Holdings, Inc. — Class A*		34		1,400
Associated Banc-Corp.		65		1,400
Eastern Bankshares, Inc.		84		1,377
International Bancshares Corp.		23		1,375
PennyMac Financial Services, Inc.		12		1,368
Cushman & Wakefield plc*		100		1,363
Community Financial System, Inc.		23		1,336
PJT Partners, Inc. — Class A		10		1,333
WSFS Financial Corp.		26		1,326
Upstart Holdings, Inc.*,1		33		1,320
Cathay General Bancorp		30		1,288
Genworth Financial, Inc. — Class A*		186		1,274
LXP Industrial Trust REIT		126		1,266
Arbor Realty Trust, Inc. REIT1		80		1,245
New York Community Bancorp, Inc.		110		1,235
Douglas Emmett, Inc. REIT		70		1,230
SITE Centers Corp. REIT		20		1,210
Bancorp, Inc.*		22		1,177
Outfront Media, Inc. REIT		64		1,176
Four Corners Property Trust, Inc. REIT		40		1,172
Artisan Partners Asset Management, Inc. — Class A		27		1,170
BankUnited, Inc.		32		1,166
Simmons First National Corp. — Class A		54		1,163
McGrath RentCorp		11		1,158
Burford Capital Ltd.		87		1,154
Cohen & Steers, Inc.		12		1,151
Urban Edge Properties REIT		52		1,112
Bank of Hawaii Corp.		17		1,067
Independent Bank Corp.		18		1,064
Bread Financial Holdings, Inc.		22		1,047
First Interstate BancSystem, Inc. — Class A		34		1,043
Palomar Holdings, Inc.*		11		1,041
First Financial Bancorp		41		1,034
Acadia Realty Trust REIT		44		1,033
Pacific Premier Bancorp, Inc.		41		1,031
TowneBank		31		1,025
Heartland Financial USA, Inc.		18		1,021
CVB Financial Corp.		57		1,016
WaFd, Inc.		29		1,011
Park National Corp.		6		1,008
Provident Financial Services, Inc.		54		1,002
Victory Capital Holdings, Inc. — Class A		18		997
StoneX Group, Inc.*		12		983
Compass, Inc. — Class A*		158		965
Seacoast Banking Corporation of Florida		36		959
BancFirst Corp.		9		947
American Healthcare REIT, Inc.		36		940
St. Joe Co.		16		933
First Merchants Corp.		25		930
Core Scientific, Inc.*		78		925
Independent Bank Group, Inc.		16		923

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Financial - 8.3% (continued)
Enova International, Inc.*		11	$	922
Equity Commonwealth REIT*		46		915
Sunstone Hotel Investors, Inc. REIT		88		908
Newmark Group, Inc. — Class A		58		901
OFG Bancorp		20		898
Stewart Information Services Corp.		12		897
Cleanspark, Inc.*		96		897
Banner Corp.		15		893
Goosehead Insurance, Inc. — Class A*		10		893
NBT Bancorp, Inc.		20		885
Banc of California, Inc.		60		884
Renasant Corp.		27		877
Riot Platforms, Inc.*,1		118		875
Retail Opportunity Investments Corp. REIT		54		849
Trustmark Corp.		26		827
InvenTrust Properties Corp. REIT		29		823
Enterprise Financial Services Corp.		16		820
Triumph Financial, Inc.*		10		795
DiamondRock Hospitality Co. REIT		91		794
Mercury General Corp.		12		756
First Commonwealth Financial Corp.		44		755
Farmer Mac — Class C		4		750
WesBanco, Inc.		25		744
Bank of NT Butterfield & Son Ltd.		20		738
Northwest Bancshares, Inc.		55		736
Global Net Lease, Inc. REIT		87		733
Pathward Financial, Inc.		11		726
Lakeland Financial Corp.		11		716
S&T Bancorp, Inc.		17		713
Live Oak Bancshares, Inc.		15		711
First Bancorp		17		707
Pagseguro Digital Ltd. — Class A*		82		706
City Holding Co.		6		704
FB Financial Corp.		15		704
LTC Properties, Inc. REIT		19		697
Pebblebrook Hotel Trust REIT		52		688
Stock Yards Bancorp, Inc.		11		682
Nelnet, Inc. — Class A		6		680
National Bank Holdings Corp. — Class A		16		674
Elme Communities REIT		38		668
Getty Realty Corp. REIT		21		668
Skyward Specialty Insurance Group, Inc.*		16		652
Xenia Hotels & Resorts, Inc. REIT		44		650
Hilltop Holdings, Inc.		20		643
Empire State Realty Trust, Inc. — Class A REIT		58		643
Compass Diversified Holdings		29		642
Redfin Corp.*		51		639
JBG SMITH Properties REIT		36		629
Horace Mann Educators Corp.		18		629
Virtus Investment Partners, Inc.		3		628
Hope Bancorp, Inc.		50		628
Two Harbors Investment Corp. REIT		45		625
SiriusPoint Ltd.*		43		617
Alexander & Baldwin, Inc. REIT		32		614
Veris Residential, Inc. REIT		34		607
RLJ Lodging Trust REIT		66		606
Veritex Holdings, Inc.		23		605
Customers Bancorp, Inc.*		13		604
WisdomTree, Inc.		60		599
First Busey Corp.		23		598
TriCo Bancshares		14		597
Sandy Spring Bancorp, Inc.		19		596
Trupanion, Inc.*		14		588
Uniti Group, Inc. REIT*		103		581
Safehold, Inc. REIT		22		577
Nicolet Bankshares, Inc.		6		574
Easterly Government Properties, Inc. REIT		42		570
Apollo Commercial Real Estate Finance, Inc. REIT		62		570
Ladder Capital Corp. — Class A REIT		49		568
American Assets Trust, Inc. REIT		21		561
Apartment Investment and Management Co. — Class A REIT*		62		560
MFA Financial, Inc. REIT		44		560
Chimera Investment Corp. REIT		35		554
UMH Properties, Inc. REIT		28		551
Stellar Bancorp, Inc.		21		544
Westamerica BanCorp		11		544
PennyMac Mortgage Investment Trust REIT		38		542
Kennedy-Wilson Holdings, Inc.		49		542
LendingClub Corp.*		47		537
Piedmont Office Realty Trust, Inc. — Class A REIT		53		535
Ready Capital Corp. REIT		70		534
Navient Corp.		34		530
NETSTREIT Corp.		32		529
Employers Holdings, Inc.		11		528
QCR Holdings, Inc.		7		518
Berkshire Hills Bancorp, Inc.		19		512
eXp World Holdings, Inc.		35		493
Safety Insurance Group, Inc.		6		491
1st Source Corp.		8		479
Encore Capital Group, Inc.*		10		473
Enact Holdings, Inc.		13		472
Terawulf, Inc.*		100		468
German American Bancorp, Inc.		12		465
OceanFirst Financial Corp.		25		465
Ellington Financial, Inc. REIT		36		464
Cannae Holdings, Inc.		24		457
Franklin BSP Realty Trust, Inc. REIT		35		457
Peoples Bancorp, Inc.		15		451
Perella Weinberg Partners		23		444
Redwood Trust, Inc. REIT		57		441
NexPoint Residential Trust, Inc. REIT		10		440
Dime Community Bancshares, Inc.		15		432
Hut 8 Corp.*		35		429
ARMOUR Residential REIT, Inc.		21		428
HCI Group, Inc.		4		428

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Financial - 8.3% (continued)
Centerspace REIT		6	$	423
Origin Bancorp, Inc.		13		418
First Bancshares, Inc.		13		418
FTAI Infrastructure, Inc.		44		412
Preferred Bank/Los Angeles CA		5		401
Southside Bancshares, Inc.		12		401
ConnectOne Bancorp, Inc.		16		401
Diversified Healthcare Trust REIT		95		398
Brandywine Realty Trust REIT		73		397
Marcus & Millichap, Inc.		10		396
Paramount Group, Inc. REIT*		80		394
First Mid Bancshares, Inc.		10		389
AMERISAFE, Inc.		8		387
Plymouth Industrial REIT, Inc.		17		384
Brookline Bancorp, Inc.		38		383
PRA Group, Inc.*		17		380
Fidelis Insurance Holdings Ltd.		21		379
Burke & Herbert Financial Services Corp.		6		366
Bank First Corp.		4		363
Lemonade, Inc.*		22		363
F&G Annuities & Life, Inc.		8		358
Dynex Capital, Inc. REIT		28		357
Central Pacific Financial Corp.		12		354
Premier Financial Corp.		15		352
Byline Bancorp, Inc.		13		348
Community Trust Bancorp, Inc.		7		348
Tompkins Financial Corp.		6		347
Univest Financial Corp.		12		338
CrossFirst Bankshares, Inc.*		20		334
ProAssurance Corp.*		22		331
Hamilton Insurance Group Ltd. — Class B*		17		329
Heritage Financial Corp.		15		327
Service Properties Trust REIT		71		324
Summit Hotel Properties, Inc. REIT		46		316
NB Bancorp, Inc.*		17		315
Capitol Federal Financial, Inc.		54		315
Merchants Bancorp		7		315
Armada Hoffler Properties, Inc. REIT		29		314
BrightSpire Capital, Inc. REIT		56		314
KKR Real Estate Finance Trust, Inc. REIT		25		309
Mercantile Bank Corp.		7		306
Brightsphere Investment Group, Inc.		12		305
First Community Bankshares, Inc.		7		302
Independent Bank Corp.		9		300
Old Second Bancorp, Inc.		19		296
Horizon Bancorp, Inc.		19		295
Eagle Bancorp, Inc.		13		294
Cipher Mining, Inc.*		75		290
Orrstown Financial Services, Inc.		8		288
Whitestone REIT — Class B		21		284
Hudson Pacific Properties, Inc. REIT*		59		282
Brookfield Business Corp. — Class A		11		279
Amerant Bancorp, Inc.		13		278
Claros Mortgage Trust, Inc.		37		277
Gladstone Commercial Corp. REIT		17		276
Universal Health Realty Income Trust REIT		6		275
Coastal Financial Corp.*		5		270
Patria Investments Ltd. — Class A		24		268
TrustCo Bank Corporation NY		8		265
Metropolitan Bank Holding Corp.*		5		263
Republic Bancorp, Inc. — Class A		4		261
International Money Express, Inc.*		14		259
Global Medical REIT, Inc.		26		258
Heritage Commerce Corp.		26		257
Business First Bancshares, Inc.		10		257
CBL & Associates Properties, Inc. REIT		10		252
Amalgamated Financial Corp.		8		251
Camden National Corp.		6		248
New York Mortgage Trust, Inc. REIT		39		247
Equity Bancshares, Inc. — Class A		6		245
Metrocity Bankshares, Inc.		8		245
Hingham Institution For Savings		1		243
Alexander's, Inc. REIT		1		242
Farmers National Banc Corp.		16		242
Hanmi Financial Corp.		13		242
World Acceptance Corp.*		2		236
LendingTree, Inc.*		4		232
Northeast Bank		3		231
Investors Title Co.		1		230
Great Southern Bancorp, Inc.		4		229
Real Brokerage, Inc.*		41		228
Southern Missouri Bancorp, Inc.		4		226
Washington Trust Bancorp, Inc.		7		225
Universal Insurance Holdings, Inc.		10		221
HarborOne Bancorp, Inc.		17		221
First Financial Corp.		5		219
Peakstone Realty Trust REIT		16		218
Community Healthcare Trust, Inc. REIT		12		218
CNB Financial Corp.		9		217
NerdWallet, Inc. — Class A*		17		216
Tiptree, Inc. — Class A		11		215
Anywhere Real Estate, Inc.*		42		213
TPG RE Finance Trust, Inc. REIT		25		213
Ambac Financial Group, Inc.*		19		213
Capital City Bank Group, Inc.		6		212
Saul Centers, Inc. REIT		5		210
Gladstone Land Corp. REIT		15		208
Five Star Bancorp		7		208
Columbia Financial, Inc.*		12		205
HomeTrust Bancshares, Inc.		6		204
SmartFinancial, Inc.		7		204
GCM Grosvenor, Inc. — Class A		18		204
Midland States Bancorp, Inc.		9		201
Arrow Financial Corp.		7		201
Farmland Partners, Inc. REIT		19		199
Northfield Bancorp, Inc.		17		197
Invesco Mortgage Capital, Inc. REIT		21		197

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Financial - 8.3% (continued)
Esquire Financial Holdings, Inc.		3	$	196
One Liberty Properties, Inc. REIT		7		193
P10, Inc. — Class A		18		193
Peapack-Gladstone Financial Corp.		7		192
CTO Realty Growth, Inc. REIT		10		190
Orchid Island Capital, Inc. REIT		23		189
United Fire Group, Inc.		9		188
Peoples Financial Services Corp.		4		188
Bar Harbor Bankshares		6		185
NET Lease Office Properties REIT		6		184
Alerus Financial Corp.		8		183
Shore Bancshares, Inc.		13		182
FRP Holdings, Inc.*		6		179
Bit Digital, Inc.*		51		179
Mid Penn Bancorp, Inc.		6		179
Chatham Lodging Trust REIT		21		179
Financial Institutions, Inc.		7		178
RMR Group, Inc. — Class A		7		178
Flushing Financial Corp.		12		175
ACNB Corp.		4		175
Carter Bankshares, Inc.*		10		174
Sierra Bancorp		6		173
MidWestOne Financial Group, Inc.		6		171
South Plains Financial, Inc.		5		170
Farmers & Merchants Bancorp Incorporated/Archbold OH		6		166
Kearny Financial Corp.		24		165
Greenlight Capital Re Ltd. — Class A*		12		164
Diamond Hill Investment Group, Inc.		1		162
RBB Bancorp		7		161
Ares Commercial Real Estate Corp. REIT		23		161
Hippo Holdings, Inc.*		9		152
Root, Inc. — Class A*		4		151
First Foundation, Inc.		23		143
Northrim BanCorp, Inc.		2		142
Bank of Marin Bancorp		7		141
First Internet Bancorp		4		137
First Bank/Hamilton NJ		9		137
First Business Financial Services, Inc.		3		137
Legacy Housing Corp.*		5		137
Community West Bancshares		7		135
Third Coast Bancshares, Inc.*		5		134
Home Bancorp, Inc.		3		134
FS Bancorp, Inc.		3		133
Industrial Logistics Properties Trust REIT		28		133
California BanCorp*		9		133
West BanCorp, Inc.		7		133
Northeast Community Bancorp, Inc.		5		132
Postal Realty Trust, Inc. — Class A REIT		9		132
First Bancorp, Inc.		5		132
HBT Financial, Inc.		6		131
Regional Management Corp.		4		131
Enterprise Bancorp, Inc.		4		128
Bridgewater Bancshares, Inc.*		9		128
HomeStreet, Inc.*		8		126
Selectquote, Inc.*		58		126
Civista Bancshares, Inc.		7		125
NewtekOne, Inc.		10		125
Southern States Bancshares, Inc.		4		123
Heritage Insurance Holdings, Inc.*		10		122
Orange County Bancorp, Inc.		2		121
Dave, Inc.*		3		120
BayCom Corp.		5		119
Citizens & Northern Corp.		6		118
Citizens Financial Services, Inc.		2		117
First of Long Island Corp.		9		116
American Coastal Insurance Corp.*		10		113
Primis Financial Corp.		9		110
Colony Bankcorp, Inc.		7		109
Chicago Atlantic Real Estate Finance, Inc. REIT		7		108
Parke Bancorp, Inc.		5		104
Red River Bancshares, Inc.		2		104
Donegal Group, Inc. — Class A		7		103
Guaranty Bancshares, Inc.		3		103
Waterstone Financial, Inc.		7		103
Capital Bancorp, Inc.		4		103
Southern First Bancshares, Inc.*		3		102
Unity Bancorp, Inc.		3		102
RE/MAX Holdings, Inc. — Class A*		8		100
City Office REIT, Inc.		17		99
John Marshall Bancorp, Inc.		5		99
Fidelity D&D Bancorp, Inc.		2		99
MVB Financial Corp.		5		97
Orion Office REIT, Inc.		24		96
Onity Group, Inc.*		3		96
PCB Bancorp		5		94
Ponce Financial Group, Inc.*		8		93
ChoiceOne Financial Services, Inc.		3		93
Greene County Bancorp, Inc.		3		93
Blue Foundry Bancorp*		9		92
FVCBankcorp, Inc.*		7		91
Alpine Income Property Trust, Inc. REIT		5		91
Timberland Bancorp, Inc.		3		91
AG Mortgage Investment Trust, Inc. REIT		12		90
Bankwell Financial Group, Inc.		3		90
Braemar Hotels & Resorts, Inc. REIT		29		90
BRT Apartments Corp. REIT		5		88
James River Group Holdings Ltd.		14		88
NexPoint Diversified Real Estate Trust REIT		14		87
Middlefield Banc Corp.		3		86
Bowhead Specialty Holdings, Inc.*		3		84
Virginia National Bankshares Corp.		2		83
Star Holdings*		6		83
Norwood Financial Corp.		3		83
Seven Hills Realty Trust REIT		6		83
Plumas Bancorp		2		82

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Financial - 8.3% (continued)
Oak Valley Bancorp		3	$	80
Velocity Financial, Inc.*		4		78
Investar Holding Corp.		4		78
ESSA Bancorp, Inc.		4		77
Crawford & Co. — Class A		7		77
USCB Financial Holdings, Inc.		5		76
Provident Bancorp, Inc.*		7		76
LCNB Corp.		5		75
Bank7 Corp.		2		75
Franklin Street Properties Corp. REIT		42		74
BCB Bancorp, Inc.		6		74
Princeton Bancorp, Inc.		2		74
Ames National Corp.		4		73
AFC Gamma, Inc. REIT		7		71
Atlanticus Holdings Corp.*		2		70
Granite Point Mortgage Trust, Inc. REIT		22		70
Silvercrest Asset Management Group, Inc. — Class A		4		69
MBIA, Inc.		19		68
First Financial Northwest, Inc.		3		68
Maui Land & Pineapple Company, Inc.*		3		67
Maiden Holdings Ltd.*		38		67
Forge Global Holdings, Inc.*		50		65
Medallion Financial Corp.		8		65
LINKBANCORP, Inc.		10		64
Nexpoint Real Estate Finance, Inc. REIT		4		63
First Western Financial, Inc.*		3		60
National Bankshares, Inc.		2		60
AlTi Global, Inc.*		15		56
Sky Harbour Group Corp.*		5		55
Pioneer Bancorp, Inc.*		5		55
Angel Oak Mortgage REIT, Inc.		5		52
Stratus Properties, Inc.*		2		52
Paysign, Inc.*		14		51
Peoples Bancorp of North Carolina, Inc.		2		51
Kingsway Financial Services, Inc.*		6		50
Chemung Financial Corp.		1		48
B Riley Financial, Inc.*		9		47
NI Holdings, Inc.*		3		47
Sterling Bancorp, Inc.*		9		41
Strawberry Fields REIT, Inc.		3		38
OppFi, Inc.		8		38
Consumer Portfolio Services, Inc.*		4		38
Transcontinental Realty Investors, Inc.*		1		29
Sunrise Realty Trust, Inc. REIT		2		29
Clipper Realty, Inc. REIT		5		29
Offerpad Solutions, Inc.*		5		20
GoHealth, Inc. — Class A*		2		19
American Realty Investors, Inc.*		1		18
SWK Holdings Corp.*		1		17
Roadzen, Inc.*		7		8
Total Financial				280,939
Consumer, Non-cyclical - 8.2%
Vaxcyte, Inc.*		52		5,942
Insmed, Inc.*		68		4,964
Sprouts Farmers Market, Inc.*		44		4,858
Ensign Group, Inc.		24		3,452
Lantheus Holdings, Inc.*		30		3,293
Halozyme Therapeutics, Inc.*		54		3,091
HealthEquity, Inc.*		37		3,028
REVOLUTION Medicines, Inc.*		66		2,993
Glaukos Corp.*		21		2,736
Cytokinetics, Inc.*		49		2,587
Blueprint Medicines Corp.*		27		2,497
Merit Medical Systems, Inc.*		25		2,471
Option Care Health, Inc.*		74		2,316
Brink's Co.		20		2,313
TransMedics Group, Inc.*		14		2,198
Avidity Biosciences, Inc.*		47		2,159
RadNet, Inc.*		29		2,012
Krystal Biotech, Inc.*		11		2,002
Verra Mobility Corp.*		72		2,002
Alkermes plc*		71		1,987
ADMA Biologics, Inc.*		97		1,939
Herc Holdings, Inc.		12		1,913
Integer Holdings Corp.*		14		1,820
Oscar Health, Inc. — Class A*		85		1,803
Haemonetics Corp.*		22		1,768
Crinetics Pharmaceuticals, Inc.*		34		1,737
Korn Ferry		23		1,731
Primo Water Corp.		68		1,717
Madrigal Pharmaceuticals, Inc.*		8		1,698
Biohaven Ltd.*		33		1,649
ICU Medical, Inc.*		9		1,640
Stride, Inc.*		19		1,621
Corcept Therapeutics, Inc.*		35		1,620
Select Medical Holdings Corp.		46		1,604
Lancaster Colony Corp.		9		1,589
Arcellx, Inc.*		19		1,587
Prestige Consumer Healthcare, Inc.*		22		1,586
Neogen Corp.*		94		1,580
Denali Therapeutics, Inc.*		54		1,573
Bridgebio Pharma, Inc.*		61		1,553
WD-40 Co.		6		1,547
Nuvalent, Inc. — Class A*		15		1,534
Axonics, Inc.*		22		1,531
PROCEPT BioRobotics Corp.*		18		1,442
Axsome Therapeutics, Inc.*		16		1,438
ABM Industries, Inc.		27		1,425
CBIZ, Inc.*		21		1,413
Insperity, Inc.		16		1,408
TG Therapeutics, Inc.*		60		1,403
StoneCo Ltd. — Class A*		124		1,396
TriNet Group, Inc.		14		1,358
Amicus Therapeutics, Inc.*		127		1,356
Simply Good Foods Co.*		39		1,356
Alight, Inc. — Class A*		183		1,354
Cal-Maine Foods, Inc.		18		1,347
ICF International, Inc.		8		1,334
CorVel Corp.*		4		1,307
Adtalem Global Education, Inc.*		17		1,283
LivaNova plc*		24		1,261
Rhythm Pharmaceuticals, Inc.*		24		1,257
Dyne Therapeutics, Inc.*		35		1,257
PTC Therapeutics, Inc.*		33		1,224
J & J Snack Foods Corp.		7		1,205
Tandem Diabetes Care, Inc.*		28		1,187
Guardant Health, Inc.*		51		1,170
Alarm.com Holdings, Inc.*		21		1,148
Ideaya Biosciences, Inc.*		36		1,140
Geron Corp.*		250		1,135

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Consumer, Non-cyclical - 8.2% (continued)
Twist Bioscience Corp.*		25	$	1,130
Protagonist Therapeutics, Inc.*		25		1,125
Veracyte, Inc.*		33		1,123
Agios Pharmaceuticals, Inc.*		25		1,111
Astrana Health, Inc.*		19		1,101
Myriad Genetics, Inc.*		39		1,068
Surgery Partners, Inc.*		33		1,064
iRhythm Technologies, Inc.*		14		1,039
Inter Parfums, Inc.		8		1,036
Iovance Biotherapeutics, Inc.*		110		1,033
Arrowhead Pharmaceuticals, Inc.*		52		1,007
Marqeta, Inc. — Class A*		201		989
Laureate Education, Inc. — Class A		58		963
SpringWorks Therapeutics, Inc.*		30		961
Catalyst Pharmaceuticals, Inc.*		48		954
Celldex Therapeutics, Inc.*		28		952
UFP Technologies, Inc.*		3		950
EVERTEC, Inc.		28		949
Inari Medical, Inc.*		23		949
Vector Group Ltd.		63		940
Apogee Therapeutics, Inc.*		16		940
CONMED Corp.		13		935
Addus HomeCare Corp.*		7		931
Payoneer Global, Inc.*		123		926
Strategic Education, Inc.		10		926
Kymera Therapeutics, Inc.*		19		899
Vericel Corp.*		21		887
TreeHouse Foods, Inc.*		21		882
PROG Holdings, Inc.		18		873
Omnicell, Inc.*		20		872
Huron Consulting Group, Inc.*		8		870
Intellia Therapeutics, Inc.*		42		863
Flywire Corp.*		52		852
Remitly Global, Inc.*		63		844
LeMaitre Vascular, Inc.		9		836
Summit Therapeutics, Inc.*		38		832
Akero Therapeutics, Inc.*		29		832
Edgewise Therapeutics, Inc.*		31		827
Amphastar Pharmaceuticals, Inc.*		17		825
Graham Holdings Co. — Class B		1		822
NeoGenomics, Inc.*		55		811
Beam Therapeutics, Inc.*		33		809
ACADIA Pharmaceuticals, Inc.*		52		800
STAAR Surgical Co.*		21		780
John Wiley & Sons, Inc. — Class A		16		772
Novavax, Inc.*		61		770
Patterson Companies, Inc.		35		764
Edgewell Personal Care Co.		21		763
Keros Therapeutics, Inc.*		13		755
CG oncology, Inc.*		20		755
Vera Therapeutics, Inc.*		17		751
RxSight, Inc.*		15		741
Upbound Group, Inc.		23		736
MannKind Corp.*		115		723
Central Garden & Pet Co. — Class A*		23		722
Novocure Ltd.*		46		719
Immunovant, Inc.*		25		713
Andersons, Inc.		14		702
Ligand Pharmaceuticals, Inc. — Class B*		7		701
GEO Group, Inc.*		54		694
LiveRamp Holdings, Inc.*		28		694
Syndax Pharmaceuticals, Inc.*		36		693
Arvinas, Inc.*		28		690
Ardelyx, Inc.*		100		689
CareDx, Inc.*		22		687
Supernus Pharmaceuticals, Inc.*		22		686
PACS Group, Inc.*		17		679
Teladoc Health, Inc.*		74		679
Recursion Pharmaceuticals, Inc. — Class A*		103		679
AMN Healthcare Services, Inc.*		16		678
BioCryst Pharmaceuticals, Inc.*		89		676
Mirum Pharmaceuticals, Inc.*		17		663
Cimpress plc*		8		655
Dynavax Technologies Corp.*		57		635
Chefs' Warehouse, Inc.*		15		630
National Healthcare Corp.		5		629
Perdoceo Education Corp.		28		623
Progyny, Inc.*		37		620
Helen of Troy Ltd.*		10		619
Viridian Therapeutics, Inc.*		27		614
CoreCivic, Inc.*		48		607
Kura Oncology, Inc.*		31		606
US Physical Therapy, Inc.		7		592
Harrow, Inc.*		13		584
Nurix Therapeutics, Inc.*		26		584
Ocular Therapeutix, Inc.*		67		583
Inmode Ltd.*		34		576
Amneal Pharmaceuticals, Inc.*		69		574
Brookdale Senior Living, Inc. — Class A*		83		564
AtriCure, Inc.*		20		561
Janux Therapeutics, Inc.*		12		545
Collegium Pharmaceutical, Inc.*		14		541
Universal Corp.		10		531
Cassava Sciences, Inc.*		18		530
Quanex Building Products Corp.		19		527
Integra LifeSciences Holdings Corp.*		29		527
Tarsus Pharmaceuticals, Inc.*		16		526
CRA International, Inc.		3		526
Avadel Pharmaceuticals plc*		40		525
Xencor, Inc.*		26		523
agilon health, Inc.*		133		523
Dole plc		32		521
Harmony Biosciences Holdings, Inc.*		13		520
Owens & Minor, Inc.*		33		518
Rocket Pharmaceuticals, Inc.*		28		517
Soleno Therapeutics, Inc.*		10		505
MGP Ingredients, Inc.		6		499
Arlo Technologies, Inc.*		41		497
Utz Brands, Inc.		28		496
AdaptHealth Corp.*		44		494
Kforce, Inc.		8		492
Vital Farms, Inc.*		14		491
Neumora Therapeutics, Inc.*		37		489
Transcat, Inc.*		4		483
Weis Markets, Inc.		7		482
Vita Coco Company, Inc.*		17		481
Avanos Medical, Inc.*		20		481
WK Kellogg Co.		28		479
ANI Pharmaceuticals, Inc.*		8		477

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Consumer, Non-cyclical - 8.2% (continued)
National Beverage Corp.		10	$	469
Coursera, Inc.*		59		468
Longboard Pharmaceuticals, Inc.*		14		467
Pennant Group, Inc.*		13		464
Innoviva, Inc.*		24		463
Artivion, Inc.*		17		453
Travere Therapeutics, Inc.*		32		448
Ingles Markets, Inc. — Class A		6		448
Fresh Del Monte Produce, Inc.		15		443
Spyre Therapeutics, Inc.*		15		441
First Advantage Corp.*		22		437
Cogent Biosciences, Inc.*		40		432
Arcutis Biotherapeutics, Inc.*		46		428
Aurinia Pharmaceuticals, Inc.*		58		425
United Natural Foods, Inc.*		25		420
Pediatrix Medical Group, Inc.*		36		417
Barrett Business Services, Inc.		11		413
Praxis Precision Medicines, Inc.*		7		403
Kiniksa Pharmaceuticals International plc*		16		400
Maravai LifeSciences Holdings, Inc. — Class A*		48		399
Krispy Kreme, Inc.		37		397
BrightView Holdings, Inc.*		25		393
Evolus, Inc.*		24		389
Enliven Therapeutics, Inc.*		15		383
Legalzoom.com, Inc.*		60		381
John B Sanfilippo & Son, Inc.		4		377
BioLife Solutions, Inc.*		15		376
Monro, Inc.		13		375
Driven Brands Holdings, Inc.*		26		371
Deluxe Corp.		19		370
PetIQ, Inc.*		12		369
Cullinan Therapeutics, Inc.*		22		368
Arcus Biosciences, Inc.*		24		367
LifeStance Health Group, Inc.*		52		364
Healthcare Services Group, Inc.*		32		357
Applied Therapeutics, Inc.*		42		357
Embecta Corp.		25		353
Heidrick & Struggles International, Inc.		9		350
Disc Medicine, Inc.*		7		344
BrightSpring Health Services, Inc.*		23		338
Hain Celestial Group, Inc.*		39		336
SpartanNash Co.		15		336
Community Health Systems, Inc.*		55		334
Viad Corp.*		9		322
Immunome, Inc.*		22		322
Repay Holdings Corp.*		39		318
Paysafe Ltd.*		14		314
Castle Biosciences, Inc.*		11		314
Herbalife Ltd.*		43		309
MiMedx Group, Inc.*		52		307
Avid Bioservices, Inc.*		27		307
Day One Biopharmaceuticals, Inc.*		22		306
Udemy, Inc.*		41		305
ARS Pharmaceuticals, Inc.*		21		305
Relay Therapeutics, Inc.*		43		304
Turning Point Brands, Inc.		7		302
B&G Foods, Inc.		34		302
Matthews International Corp. — Class A		13		302
AnaptysBio, Inc.*		9		302
Zymeworks, Inc.*		24		301
Prothena Corporation plc*		18		301
Pacira BioSciences, Inc.*		20		301
ZipRecruiter, Inc. — Class A*		31		295
Cytek Biosciences, Inc.*		53		294
Vir Biotechnology, Inc.*		39		292
Hackett Group, Inc.		11		289
ArriVent Biopharma, Inc.*		12		282
Pliant Therapeutics, Inc.*		25		280
WaVe Life Sciences Ltd.*		34		279
Kelly Services, Inc. — Class A		13		278
Cargo Therapeutics, Inc.*		15		277
ORIC Pharmaceuticals, Inc.*		27		277
Universal Technical Institute, Inc.*		17		276
Dianthus Therapeutics, Inc.*		10		274
Phathom Pharmaceuticals, Inc.*		15		271
Green Dot Corp. — Class A*		23		269
Ennis, Inc.		11		268
Perspective Therapeutics, Inc.*		20		267
Mister Car Wash, Inc.*		40		260
89bio, Inc.*		35		259
Tourmaline Bio, Inc.		10		257
Adaptive Biotechnologies Corp.*		50		256
SunOpta, Inc.*		40		255
Axogen, Inc.*		18		252
SI-BONE, Inc.*		18		252
Ironwood Pharmaceuticals, Inc. — Class A*		61		251
Liquidia Corp.*		25		250
Cass Information Systems, Inc.		6		249
Alphatec Holdings, Inc.*		44		245
Mission Produce, Inc.*		19		244
Replimune Group, Inc.*		22		241
Scholar Rock Holding Corp.*		30		240
4D Molecular Therapeutics, Inc.*		22		238
Sana Biotechnology, Inc.*		57		237
Arbutus Biopharma Corp.*		61		235
Orthofix Medical, Inc.*		15		234
Sterling Check Corp.*		14		234
Revance Therapeutics, Inc.*		45		234
Surmodics, Inc.*		6		233
Arcturus Therapeutics Holdings, Inc.*		10		232
ImmunityBio, Inc.*,1		62		231
Concentra Group Holdings Parent, Inc.*		10		224
Annexon, Inc.*		37		219
ACCO Brands Corp.		40		219
GeneDx Holdings Corp.*		5		212
Tyra Biosciences, Inc.*		9		212
OPKO Health, Inc.*,1		142		212
Y-mAbs Therapeutics, Inc.*		16		210
Erasca, Inc.*		77		210
REGENXBIO, Inc.*		20		210
Astria Therapeutics, Inc.*		19		209
Terns Pharmaceuticals, Inc.*		25		209
Quanterix Corp.*		16		207
Humacyte, Inc.*		38		207
Franklin Covey Co.*		5		206

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Consumer, Non-cyclical - 8.2% (continued)
Willdan Group, Inc.*		5	$	205
Olema Pharmaceuticals, Inc.*		17		203
Phibro Animal Health Corp. — Class A		9		203
Varex Imaging Corp.*		17		203
Pacific Biosciences of California, Inc.*		119		202
Calavo Growers, Inc.		7		200
Carriage Services, Inc. — Class A		6		197
KalVista Pharmaceuticals, Inc.*		17		197
Fulgent Genetics, Inc.*		9		196
CorMedix, Inc.*		24		194
Distribution Solutions Group, Inc.*		5		193
Bioventus, Inc. — Class A*		16		191
UroGen Pharma Ltd.*		15		191
Zimvie, Inc.*		12		190
Altimmune, Inc.*		31		190
OrthoPediatrics Corp.*		7		190
USANA Health Sciences, Inc.*		5		190
Cross Country Healthcare, Inc.*		14		188
Limoneira Co.		7		185
Stoke Therapeutics, Inc.*		15		184
Anavex Life Sciences Corp.*		32		182
Nuvation Bio, Inc.*		78		179
Aura Biosciences, Inc.*		20		178
Savara, Inc.*		42		178
Mind Medicine MindMed, Inc.*		31		176
Beyond Meat, Inc.*		26		176
Entrada Therapeutics, Inc.*		11		176
EyePoint Pharmaceuticals, Inc.*		22		176
MaxCyte, Inc.*		45		175
Hertz Global Holdings, Inc.*		53		175
Xeris Biopharma Holdings, Inc.*		61		174
Enhabit, Inc.*		22		174
Sezzle, Inc.*		1		171
OmniAb, Inc.*		40		169
Neurogene, Inc.*		4		168
Capricor Therapeutics, Inc.*		11		167
Moneylion, Inc.*		4		166
Sage Therapeutics, Inc.*		23		166
Alector, Inc.*		35		163
Tango Therapeutics, Inc.*		21		162
National Research Corp. — Class A		7		160
Aquestive Therapeutics, Inc.*		32		159
Tejon Ranch Co.*		9		158
ACELYRIN, Inc.*		32		158
Fate Therapeutics, Inc.*		44		154
iRadimed Corp.		3		151
Verve Therapeutics, Inc.*		31		150
Celcuity, Inc.*		10		149
Anika Therapeutics, Inc.*		6		148
Tactile Systems Technology, Inc.*		10		146
DocGo, Inc.*		44		146
Central Garden & Pet Co.*		4		146
Mineralys Therapeutics, Inc.*		12		145
C4 Therapeutics, Inc.*		25		143
Olaplex Holdings, Inc.*		60		141
Taysha Gene Therapies, Inc.*		70		141
Pulse Biosciences, Inc.*		8		140
Nano-X Imaging Ltd.*,1		23		140
Resources Connection, Inc.		14		136
Cerus Corp.*		78		136
Esperion Therapeutics, Inc.*,1		82		135
SIGA Technologies, Inc.		20		135
Q32 Bio, Inc.*		3		134
Absci Corp.*		35		134
Duckhorn Portfolio, Inc.*		23		134
Paragon 28, Inc.*		20		134
Pulmonx Corp.*		16		133
OraSure Technologies, Inc.*		31		132
Lincoln Educational Services Corp.*		11		131
Rigel Pharmaceuticals, Inc.*		8		129
Aaron's Company, Inc.		13		129
Theravance Biopharma, Inc.*		16		129
Allogene Therapeutics, Inc.*		46		129
Village Super Market, Inc. — Class A		4		127
Honest Company, Inc.*		35		125
Zevra Therapeutics, Inc.*		18		125
Seneca Foods Corp. — Class A*		2		125
Sutro Biopharma, Inc.*		36		125
AngioDynamics, Inc.*		16		124
Accolade, Inc.*		32		123
Editas Medicine, Inc.*		36		123
Third Harmonic Bio, Inc.*		9		122
Treace Medical Concepts, Inc.*		21		122
Biomea Fusion, Inc.*		12		121
Aveanna Healthcare Holdings, Inc.*		23		120
Akebia Therapeutics, Inc.*		90		119
Natural Grocers by Vitamin Cottage, Inc.		4		119
LENZ Therapeutics, Inc.		5		119
Aldeyra Therapeutics, Inc.*		22		119
Avita Medical, Inc.*		11		118
Larimar Therapeutics, Inc.*		18		118
Vanda Pharmaceuticals, Inc.*		25		117
Voyager Therapeutics, Inc.*		20		117
Performant Financial Corp.*		31		116
IGM Biosciences, Inc.*		7		116
Inozyme Pharma, Inc.*		22		115
Atea Pharmaceuticals, Inc.*		34		114
iTeos Therapeutics, Inc.*		11		112
CompoSecure, Inc. — Class A1		8		112
Ocugen, Inc.*		111		110
Viemed Healthcare, Inc.*		15		110
Target Hospitality Corp.*		14		109
Nkarta, Inc.*		23		104
American Public Education, Inc.*		7		103
TrueBlue, Inc.*		13		103
Foghorn Therapeutics, Inc.*		11		102
Mama's Creations, Inc.*		14		102
European Wax Center, Inc. — Class A*		15		102
Heron Therapeutics, Inc.*,1		51		101
Korro Bio, Inc.*		3		100
Nektar Therapeutics*		77		100
Spire Global, Inc.*,1		10		100
2seventy bio, Inc.*		21		99
Westrock Coffee Co.*		15		98
Inogen, Inc.*		10		97
Prime Medicine, Inc.*		25		97
Fulcrum Therapeutics, Inc.*		27		96
Medifast, Inc.*		5		96
Omeros Corp.*		24		95

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Consumer, Non-cyclical - 8.2% (continued)
Lyell Immunopharma, Inc.*		69	$	95
ADC Therapeutics S.A.*		30		95
Jasper Therapeutics, Inc.*		5		94
Sera Prognostics, Inc. — Class A*		12		94
Enanta Pharmaceuticals, Inc.*		9		93
Mersana Therapeutics, Inc.*		49		93
Zentalis Pharmaceuticals, Inc.*		25		92
Ardent Health Partners, Inc.*		5		92
Forrester Research, Inc.*		5		90
Cabaletta Bio, Inc.*		19		90
Nevro Corp.*		16		89
MacroGenics, Inc.*		27		89
Organogenesis Holdings, Inc.*		31		89
Trevi Therapeutics, Inc.*		26		87
Poseida Therapeutics, Inc.*		30		86
TScan Therapeutics, Inc.*		17		85
Alico, Inc.		3		84
Atossa Therapeutics, Inc.*		55		84
Corbus Pharmaceuticals Holdings, Inc.*		4		83
Nature's Sunshine Products, Inc.*		6		82
Compass Therapeutics, Inc.*		44		81
Nathan's Famous, Inc.		1		81
Alta Equipment Group, Inc.		12		81
XOMA Royalty Corp.*		3		79
BRC, Inc. — Class A*		23		79
Lexicon Pharmaceuticals, Inc.*		50		79
Inhibrx Biosciences, Inc.*		5		78
Pyxis Oncology, Inc.*		21		77
ChromaDex Corp.*		21		77
Chegg, Inc.*		43		76
Custom Truck One Source, Inc.*		22		76
Design Therapeutics, Inc.*		14		75
Acacia Research Corp.*		16		75
Accuray, Inc.*		41		74
Blade Air Mobility, Inc.*		25		73
ModivCare, Inc.*		5		71
Achieve Life Sciences, Inc.*		15		71
MeiraGTx Holdings plc*		17		71
Caribou Biosciences, Inc.*		36		71
Solid Biosciences, Inc.*		10		70
Black Diamond Therapeutics, Inc.*		16		70
Monte Rosa Therapeutics, Inc.*		13		69
Biote Corp. — Class A*		12		67
Utah Medical Products, Inc.		1		67
Inovio Pharmaceuticals, Inc.*		11		64
Adverum Biotechnologies, Inc.*		9		63
Candel Therapeutics, Inc.*		9		62
XBiotech, Inc.*		8		62
HF Foods Group, Inc.*		17		61
Sanara Medtech, Inc.*		2		60
InfuSystem Holdings, Inc.*		9		60
PepGen, Inc.*		7		60
Nautilus Biotechnology, Inc.*		21		60
Shattuck Labs, Inc.*		17		59
Quad/Graphics, Inc.		13		59
Lineage Cell Therapeutics, Inc.*		64		58
Contineum Therapeutics, Inc. — Class A*		3		57
Joint Corp.*		5		57
Zynex, Inc.*,1		7		57
Ventyx Biosciences, Inc.*		26		57
CPI Card Group, Inc.*		2		56
scPharmaceuticals, Inc.*		12		55
Priority Technology Holdings, Inc.*		8		55
Cadiz, Inc.*		18		55
Generation Bio Co.*		22		54
MediWound Ltd.*		3		54
CVRx, Inc.*		6		53
Quipt Home Medical Corp.*		18		53
Precigen, Inc.*		55		52
ProKidney Corp.*		27		52
Lifeway Foods, Inc.*		2		52
Orchestra BioMed Holdings, Inc.*		10		51
Fennec Pharmaceuticals, Inc.*		10		50
Coherus Biosciences, Inc.*		48		50
Ispire Technology, Inc.*		8		50
Information Services Group, Inc.		15		49
Agenus, Inc.*		9		49
Stereotaxis, Inc.*		24		49
X4 Pharmaceuticals, Inc.*		73		49
Harvard Bioscience, Inc.*		18		48
Cartesian Therapeutics, Inc.*,1		3		48
Innovage Holding Corp.*		8		48
Semler Scientific, Inc.*		2		47
SoundThinking, Inc.*		4		46
Tenaya Therapeutics, Inc.*		24		46
Beauty Health Co.*		32		46
Puma Biotechnology, Inc.*		18		46
Alto Neuroscience, Inc.*		4		46
Cardiff Oncology, Inc.*		17		45
Acumen Pharmaceuticals, Inc.*		18		45
Lifecore Biomedical, Inc.*		9		44
Veru, Inc.*		57		44
Bluebird Bio, Inc.*		83		43
Greenwich Lifesciences, Inc.*		3		43
Regulus Therapeutics, Inc.*		27		42
NeuroPace, Inc.*		6		42
Waldencast plc — Class A*,1		11		40
Quantum-Si, Inc.*		44		39
Gyre Therapeutics, Inc.*		3		38
DLH Holdings Corp.*		4		37
Kodiak Sciences, Inc.*		14		37
Zura Bio Ltd.*		9		37
Lexeo Therapeutics, Inc.*		4		36
Acrivon Therapeutics, Inc.*		5		35
Emerald Holding, Inc.		7		35
Invivyd, Inc.*		34		35
Kyverna Therapeutics, Inc.*		7		34
Century Therapeutics, Inc.*		20		34
Fibrobiologics, Inc.*		11		34
FiscalNote Holdings, Inc.*		26		33
Verastem, Inc.*		11		33
AirSculpt Technologies, Inc.*		6		30
Scilex Holding Co.*		32		30
Akoya Biosciences, Inc.*		11		30
Ovid therapeutics, Inc.*		25		29
CervoMed, Inc.*		2		29
HireQuest, Inc.		2		28
Werewolf Therapeutics, Inc.*		13		28
Skye Bioscience, Inc.*		7		27
Inmune Bio, Inc.*		5		27
Sonida Senior Living, Inc.*		1		27
RAPT Therapeutics, Inc.*		13		26
ALX Oncology Holdings, Inc.*		14		25

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Consumer, Non-cyclical - 8.2% (continued)
Galectin Therapeutics, Inc.*,1		9	$	25
HilleVax, Inc.*		14		25
Actinium Pharmaceuticals, Inc.*		13		24
Cibus, Inc.*		7		23
Forafric Global plc*		2		23
Outlook Therapeutics, Inc.*		3		16
Eliem Therapeutics, Inc.*		3		15
Elevation Oncology, Inc.*		23		14
Telomir Pharmaceuticals, Inc.*		2		13
Aerovate Therapeutics, Inc.*		6		13
Prelude Therapeutics, Inc.*		6		12
Verrica Pharmaceuticals, Inc.*		8		12
MarketWise, Inc.		17		11
Boundless Bio, Inc.*		3		10
Renovaro, Inc.*		21		10
Fractyl Health, Inc.*		3		8
Metagenomi, Inc.*		3		7
Lyra Therapeutics, Inc.*		21		5
Tevogen Bio Holdings, Inc.*		10		4
Conduit Pharmaceuticals, Inc.*		10		1
Ligand Pharmaceuticals, Inc.*,†††		6		–
Total Consumer, Non-cyclical				277,135
Industrial - 5.4%
Applied Industrial Technologies, Inc.		17		3,793
Fabrinet*		16		3,783
Mueller Industries, Inc.		49		3,631
Fluor Corp.*		74		3,531
UFP Industries, Inc.		26		3,411
SPX Technologies, Inc.*		20		3,189
Modine Manufacturing Co.*		22		2,921
Novanta, Inc.*		16		2,863
Badger Meter, Inc.		13		2,839
Casella Waste Systems, Inc. — Class A*		27		2,686
CSW Industrials, Inc.		7		2,565
Exponent, Inc.		22		2,536
Watts Water Technologies, Inc. — Class A		12		2,486
Federal Signal Corp.		26		2,430
Moog, Inc. — Class A		12		2,424
Boise Cascade Co.		17		2,397
Dycom Industries, Inc.*		12		2,365
NEXTracker, Inc. — Class A*		62		2,324
Zurn Elkay Water Solutions Corp.		63		2,264
Knife River Corp.*		25		2,235
Chart Industries, Inc.*		18		2,235
AeroVironment, Inc.*		11		2,205
Matson, Inc.		15		2,139
Itron, Inc.*		20		2,136
GATX Corp.		16		2,119
Belden, Inc.		18		2,108
Franklin Electric Company, Inc.		20		2,096
Summit Materials, Inc. — Class A*		53		2,069
Arcosa, Inc.		21		1,990
Sterling Infrastructure, Inc.*		13		1,885
EnerSys		17		1,735
Kadant, Inc.		5		1,690
Advanced Energy Industries, Inc.		16		1,684
Cactus, Inc. — Class A		28		1,671
RXO, Inc.*		59		1,652
Sanmina Corp.*		24		1,643
Plexus Corp.*		12		1,641
Frontdoor, Inc.*		34		1,632
Golar LNG Ltd.		43		1,581
Terex Corp.		29		1,534
Granite Construction, Inc.		19		1,506
Kratos Defense & Security Solutions, Inc.*		64		1,491
Enpro, Inc.		9		1,460
Rocket Lab USA, Inc.*		150		1,460
Mueller Water Products, Inc. — Class A		67		1,454
Scorpio Tankers, Inc.		20		1,426
ESCO Technologies, Inc.		11		1,419
John Bean Technologies Corp.		14		1,379
Atkore, Inc.		16		1,356
Atmus Filtration Technologies, Inc.		36		1,351
Primoris Services Corp.		23		1,336
Construction Partners, Inc. — Class A*		19		1,326
Trinity Industries, Inc.		36		1,254
Albany International Corp. — Class A		14		1,244
Hub Group, Inc. — Class A		27		1,227
Griffon Corp.		17		1,190
ArcBest Corp.		10		1,085
Werner Enterprises, Inc.		28		1,081
AZZ, Inc.		13		1,074
OSI Systems, Inc.*		7		1,063
Vishay Intertechnology, Inc.		55		1,040
Masterbrand, Inc.*		55		1,020
Materion Corp.		9		1,007
Enerpac Tool Group Corp.		24		1,005
Energizer Holdings, Inc.		31		985
AAR Corp.*		15		980
Mirion Technologies, Inc.*		86		952
International Seaways, Inc.		18		928
Standex International Corp.		5		914
Gibraltar Industries, Inc.*		13		909
Bloom Energy Corp. — Class A*,1		86		908
Leonardo DRS, Inc.*		32		903
Hillman Solutions Corp.*		85		897
Mercury Systems, Inc.*		24		888
Powell Industries, Inc.		4		888
Kennametal, Inc.		34		882
O-I Glass, Inc.*		67		879
Joby Aviation, Inc.*		174		875
Hillenbrand, Inc.		30		834
Barnes Group, Inc.		20		808
World Kinect Corp.		26		804
TTM Technologies, Inc.*		44		803
IES Holdings, Inc.*		4		798
Tennant Co.		8		768
Alamo Group, Inc.		4		721
MYR Group, Inc.*		7		716
Golden Ocean Group Ltd.		53		709
Benchmark Electronics, Inc.		16		709
Apogee Enterprises, Inc.		10		700
Aspen Aerogels, Inc.*		25		692
Greif, Inc. — Class A		11		689
Tecnoglass, Inc.		10		687
Knowles Corp.*		38		685
Helios Technologies, Inc.		14		668
Greenbrier Companies, Inc.		13		662

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Industrial - 5.4% (continued)
American Woodmark Corp.*		7	$	654
DHT Holdings, Inc.		58		640
CTS Corp.		13		629
Lindsay Corp.		5		623
Janus International Group, Inc.*		61		617
Enovix Corp.*,1		65		607
Napco Security Technologies, Inc.		15		607
JELD-WEN Holding, Inc.*		37		585
Teekay Tankers Ltd. — Class A		10		583
Worthington Enterprises, Inc.		14		580
SFL Corporation Ltd.		49		567
NV5 Global, Inc.*		6		561
Dorian LPG Ltd.		15		516
Tutor Perini Corp.*		19		516
Argan, Inc.		5		507
PureCycle Technologies, Inc.*,1		53		503
Worthington Steel, Inc.		14		476
TriMas Corp.		18		459
Ichor Holdings Ltd.*		14		445
Marten Transport Ltd.		25		442
Energy Recovery, Inc.*		25		435
Columbus McKinnon Corp.		12		432
Vicor Corp.*		10		421
Thermon Group Holdings, Inc.*		14		418
Cadre Holdings, Inc.		11		418
Ducommun, Inc.*		6		395
NuScale Power Corp.*		34		394
Forward Air Corp.*		11		389
Montrose Environmental Group, Inc.*		14		368
CECO Environmental Corp.*		13		367
Triumph Group, Inc.*		28		361
Air Transport Services Group, Inc.*		22		356
American Superconductor Corp.*		15		354
Enviri Corp.*		34		351
Genco Shipping & Trading Ltd.		18		351
Gorman-Rupp Co.		9		351
FLEX LNG Ltd.		13		331
Xometry, Inc. — Class A*		18		331
Ardmore Shipping Corp.		18		326
Proto Labs, Inc.*		11		323
Nordic American Tankers Ltd.		88		323
Astec Industries, Inc.		10		320
Hyster-Yale, Inc.		5		319
Bel Fuse, Inc. — Class B		4		314
Archer Aviation, Inc. — Class A*		101		306
Limbach Holdings, Inc.*		4		303
Costamare, Inc.		19		299
Great Lakes Dredge & Dock Corp.*		28		295
Sturm Ruger & Company, Inc.		7		292
Metallus, Inc.*		18		267
DXP Enterprises, Inc.*		5		267
Mesa Laboratories, Inc.		2		260
Smith & Wesson Brands, Inc.		20		259
Insteel Industries, Inc.		8		249
Heartland Express, Inc.		20		246
Standard BioTools, Inc.*		127		245
Ryerson Holding Corp.		12		239
Ardagh Metal Packaging S.A.1		63		237
Astronics Corp.*		12		234
Evolv Technologies Holdings, Inc.*		57		231
ChargePoint Holdings, Inc.*,1		168		230
Teekay Corp.*		25		230
Applied Optoelectronics, Inc.*		16		229
Myers Industries, Inc.		16		221
nLight, Inc.*		20		214
Covenant Logistics Group, Inc. — Class A		4		211
Kimball Electronics, Inc.*		11		204
Clearwater Paper Corp.*		7		200
Pactiv Evergreen, Inc.		17		196
Olympic Steel, Inc.		5		195
LSI Industries, Inc.		12		194
LSB Industries, Inc.*		23		185
Northwest Pipe Co.*		4		180
NVE Corp.		2		160
Luxfer Holdings plc		12		155
CryoPort, Inc.*		19		154
FARO Technologies, Inc.*		8		153
National Presto Industries, Inc.		2		150
Willis Lease Finance Corp.		1		149
GrafTech International Ltd.*		112		148
SmartRent, Inc.*		84		145
Bowman Consulting Group Ltd.*		6		144
Manitowoc Company, Inc.*		15		144
Safe Bulkers, Inc.		27		140
Greif, Inc. — Class B		2		140
Byrna Technologies, Inc.*		8		136
Stoneridge, Inc.*		12		134
Universal Logistics Holdings, Inc.		3		129
Iteris, Inc.*		18		129
Ranpak Holdings Corp.*		19		124
Park-Ohio Holdings Corp.		4		123
Eastman Kodak Co.*		26		123
Latham Group, Inc.*		18		122
Graham Corp.*		4		118
Allient, Inc.		6		114
Himalaya Shipping Ltd.		13		113
Turtle Beach Corp.*		7		107
Mayville Engineering Company, Inc.*		5		105
Park Aerospace Corp.		8		104
Mistras Group, Inc.*		9		102
MicroVision, Inc.*		89		101
Pangaea Logistics Solutions Ltd.		14		101
Omega Flex, Inc.		2		100
Bel Fuse, Inc. — Class A		1		99
Proficient Auto Logistics, Inc.*		7		99
Pure Cycle Corp.*		9		97
Centuri Holdings, Inc.*		6		97
Intuitive Machines, Inc.*,1		12		97
Radiant Logistics, Inc.*		15		96
Sight Sciences, Inc.*		15		94
LanzaTech Global, Inc.*		48		92
Gencor Industries, Inc.*		4		83
L B Foster Co. — Class A*		4		82
Tredegar Corp.*		11		80
NN, Inc.*		20		78
Karat Packaging, Inc.		3		78
AerSale Corp.*		15		76
Orion Group Holdings, Inc.*		13		75
GoPro, Inc. — Class A*		54		73

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Industrial - 5.4% (continued)
Redwire Corp.*,1		10	$	69
Smith-Midland Corp.*		2		67
Eastern Co.		2		65
Arq, Inc.*		11		65
Net Power, Inc.*		9		63
Twin Disc, Inc.		5		62
Perma-Fix Environmental Services, Inc.*		5		61
Concrete Pumping Holdings, Inc.*		10		58
Quest Resource Holding Corp.*		7		56
AMMO, Inc.*		39		56
PAM Transportation Services, Inc.*		3		55
Core Molding Technologies, Inc.*		3		52
Taylor Devices, Inc.*		1		50
Virgin Galactic Holdings, Inc.*		8		49
Caesarstone Ltd.*		9		41
374Water, Inc.*		28		38
Ultralife Corp.*		4		36
908 Devices, Inc.*		10		35
VirTra, Inc.*		5		31
NL Industries, Inc.		4		30
Eve Holding, Inc.*		8		26
Southland Holdings, Inc.*		4		15
Bridger Aerospace Group Holdings, Inc.*		4		9
Amprius Technologies, Inc.*		6		7
Solidion Technology, Inc.*		4		1
Total Industrial				182,756
Consumer, Cyclical - 3.9%
Meritage Homes Corp.		16		3,281
Taylor Morrison Home Corp. — Class A*		45		3,162
Abercrombie & Fitch Co. — Class A*		22		3,078
KB Home		29		2,485
Installed Building Products, Inc.		10		2,463
Beacon Roofing Supply, Inc.*		28		2,420
Aurora Innovation, Inc.*		402		2,380
Group 1 Automotive, Inc.		6		2,298
Champion Homes, Inc.*		23		2,182
Boot Barn Holdings, Inc.*		13		2,175
Asbury Automotive Group, Inc.*		9		2,147
M/I Homes, Inc.*		12		2,056
Kontoor Brands, Inc.		24		1,963
Signet Jewelers Ltd.		19		1,960
FirstCash Holdings, Inc.		17		1,952
Tri Pointe Homes, Inc.*		41		1,858
Academy Sports & Outdoors, Inc.		31		1,809
American Eagle Outfitters, Inc.		79		1,769
Shake Shack, Inc. — Class A*		17		1,754
Cavco Industries, Inc.*		4		1,713
Six Flags Entertainment Corp.		40		1,612
Steven Madden Ltd.		32		1,568
GMS, Inc.*		17		1,540
Sweetgreen, Inc. — Class A*		43		1,524
Brinker International, Inc.*		19		1,454
SkyWest, Inc.*		17		1,445
UniFirst Corp.		7		1,391
Rush Enterprises, Inc. — Class A		26		1,374
Cinemark Holdings, Inc.*		48		1,336
LCI Industries		11		1,326
Patrick Industries, Inc.		9		1,281
Resideo Technologies, Inc.*		63		1,269
Dorman Products, Inc.*		11		1,244
Century Communities, Inc.		12		1,236
Green Brick Partners, Inc.*		14		1,169
Hilton Grand Vacations, Inc.*		32		1,162
Red Rock Resorts, Inc. — Class A		21		1,143
Visteon Corp.*		12		1,143
Hanesbrands, Inc.*		154		1,132
Goodyear Tire & Rubber Co.*		123		1,089
HNI Corp.		20		1,077
Urban Outfitters, Inc.*		28		1,073
LGI Homes, Inc.*		9		1,067
International Game Technology plc		49		1,044
PriceSmart, Inc.		11		1,010
Vista Outdoor, Inc.*		25		980
Foot Locker, Inc.*		36		930
Phinia, Inc.		20		921
Adient plc*		40		903
Atlanta Braves Holdings, Inc. — Class C*		22		876
Victoria's Secret & Co.*		34		874
JetBlue Airways Corp.*		133		873
Cheesecake Factory, Inc.		21		851
Acushnet Holdings Corp.		13		829
La-Z-Boy, Inc.		19		816
OPENLANE, Inc.*		46		776
United Parks & Resorts, Inc.*		15		759
Papa John's International, Inc.		14		754
Fox Factory Holding Corp.*		18		747
MillerKnoll, Inc.		30		743
Madison Square Garden Entertainment Corp.*		17		723
OneSpaWorld Holdings Ltd.		43		710
Winnebago Industries, Inc.		12		697
Peloton Interactive, Inc. — Class A*		146		683
H&E Equipment Services, Inc.		14		682
Blue Bird Corp.*		14		671
Topgolf Callaway Brands Corp.*		61		670
AMC Entertainment Holdings, Inc. — Class A*		146		664
Sonos, Inc.*		54		664
Gentherm, Inc.*		14		652
Life Time Group Holdings, Inc.*		26		635
Warby Parker, Inc. — Class A*		38		620
REV Group, Inc.		22		617
Sally Beauty Holdings, Inc.*		45		611
Sabre Corp.*		163		598
Wolverine World Wide, Inc.		34		592
Dana, Inc.		56		591
Buckle, Inc.		13		572
Bloomin' Brands, Inc.		34		562
Steelcase, Inc. — Class A		40		540
ScanSource, Inc.*		11		528
Oxford Industries, Inc.		6		520
G-III Apparel Group Ltd.*		17		519
VSE Corp.		6		496
Caleres, Inc.		15		496
XPEL, Inc.*		11		477
Dave & Buster's Entertainment, Inc.*		14		477
Monarch Casino & Resort, Inc.		6		476

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Consumer, Cyclical - 3.9% (continued)
Interface, Inc. — Class A		25	$	474
MRC Global, Inc.*		36		459
Cracker Barrel Old Country Store, Inc.		10		453
Everi Holdings, Inc.*		34		447
ODP Corp.*		15		446
Beazer Homes USA, Inc.*		13		444
Camping World Holdings, Inc. — Class A		18		436
Dream Finders Homes, Inc. — Class A*		12		434
Vizio Holding Corp. — Class A*		38		424
BlueLinx Holdings, Inc.*		4		422
Jack in the Box, Inc.		9		419
Global Business Travel Group I*		54		415
Hovnanian Enterprises, Inc. — Class A*		2		409
IMAX Corp.*		19		390
Allegiant Travel Co. — Class A*		7		385
Winmark Corp.		1		383
PC Connection, Inc.		5		377
National Vision Holdings, Inc.*		34		371
Lions Gate Entertainment Corp. — Class B*		53		367
Wabash National Corp.		19		365
Rush Street Interactive, Inc.*		33		358
A-Mark Precious Metals, Inc.		8		353
Sonic Automotive, Inc. — Class A		6		351
Shoe Carnival, Inc.		8		351
Malibu Boats, Inc. — Class A*		9		349
Ethan Allen Interiors, Inc.		10		319
MarineMax, Inc.*		9		317
Portillo's, Inc. — Class A*,1		23		310
American Axle & Manufacturing Holdings, Inc.*		50		309
Miller Industries, Inc.		5		305
Standard Motor Products, Inc.		9		299
Golden Entertainment, Inc.		9		286
indie Semiconductor, Inc. — Class A*		71		283
Douglas Dynamics, Inc.		10		276
Arhaus, Inc.		22		271
Chuy's Holdings, Inc.*		7		262
BJ's Restaurants, Inc.*		8		260
Forestar Group, Inc.*		8		259
Accel Entertainment, Inc.*		22		256
Leslie's, Inc.*		78		246
Arko Corp.		35		246
Kura Sushi USA, Inc. — Class A*		3		242
Super Group SGHC Ltd.		65		236
Clean Energy Fuels Corp.*		74		230
Dine Brands Global, Inc.		7		219
Daktronics, Inc.*		16		206
Build-A-Bear Workshop, Inc. — Class A		6		206
Global Industrial Co.		6		204
Lions Gate Entertainment Corp. — Class A*		26		203
First Watch Restaurant Group, Inc.*		13		203
Rush Enterprises, Inc. — Class B		4		192
Sun Country Airlines Holdings, Inc.*		17		191
Shyft Group, Inc.		15		188
Xperi, Inc.*		20		185
EVgo, Inc.*,1		44		182
Methode Electronics, Inc.		15		179
Titan International, Inc.*		22		179
RCI Hospitality Holdings, Inc.		4		178
Bally's Corp.*		10		172
Lovesac Co.*		6		172
Atlanta Braves Holdings, Inc. — Class A*		4		169
Sleep Number Corp.*		9		165
Haverty Furniture Companies, Inc.		6		165
Petco Health & Wellness Company, Inc.*		36		164
Funko, Inc. — Class A*		13		159
Hudson Technologies, Inc.*		19		158
Nu Skin Enterprises, Inc. — Class A		21		155
Hyliion Holdings Corp.*		61		151
El Pollo Loco Holdings, Inc.*		11		151
Marcus Corp.		10		151
Zumiez, Inc.*		7		149
Denny's Corp.*		22		142
Lindblad Expeditions Holdings, Inc.*		15		139
Genesco, Inc.*		5		136
Designer Brands, Inc. — Class A		18		133
Luminar Technologies, Inc.*,1		146		131
Movado Group, Inc.		7		130
MasterCraft Boat Holdings, Inc.*		7		127
America's Car-Mart, Inc.*		3		126
Titan Machinery, Inc.*		9		125
Xponential Fitness, Inc. — Class A*		10		124
Hamilton Beach Brands Holding Co. — Class A		4		122
OneWater Marine, Inc. — Class A*		5		119
Spirit Airlines, Inc.1		47		113
Savers Value Village, Inc.*		10		105
iRobot Corp.*		12		104
Weyco Group, Inc.		3		102
Potbelly Corp.*		12		100
Landsea Homes Corp.*		8		99
Cooper-Standard Holdings, Inc.*		7		97
Frontier Group Holdings, Inc.*,1		18		96
Rocky Brands, Inc.		3		95
Wheels Up Experience, Inc.*		39		94
Superior Group of Companies, Inc.		6		93
Hooker Furnishings Corp.		5		90
Solid Power, Inc.*		66		89
Flexsteel Industries, Inc.		2		89
Tile Shop Holdings, Inc.*		12		79
JAKKS Pacific, Inc.*		3		76
Johnson Outdoors, Inc. — Class A		2		72
Blink Charging Co.*,1		42		72
Full House Resorts, Inc.*		14		70
Virco Mfg. Corp.		5		69
Destination XL Group, Inc.*		23		68
Vera Bradley, Inc.*		12		65
Reservoir Media, Inc.*		8		65
Holley, Inc.*		20		59
Clarus Corp.		13		59

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Consumer, Cyclical - 3.9% (continued)
Escalade, Inc.		4	$	56
Traeger, Inc.*		15		55
Citi Trends, Inc.*		3		55
GrowGeneration Corp.*		25		53
J Jill, Inc.		2		49
Livewire Group, Inc.*		8		49
Commercial Vehicle Group, Inc.*		14		45
Marine Products Corp.		4		39
EVI Industries, Inc.		2		39
SES AI Corp.*		56		36
ONE Group Hospitality, Inc.*		9		33
Aeva Technologies, Inc.*		10		33
Lifetime Brands, Inc.		5		33
Tilly's, Inc. — Class A*		6		31
CompX International, Inc.		1		29
ThredUp, Inc. — Class A*		34		29
Canoo, Inc.*		26		26
Purple Innovation, Inc.*		25		25
Torrid Holdings, Inc.*		5		20
United Homes Group, Inc.*,1		2		12
Total Consumer, Cyclical				130,500
Technology - 3.2%
SPS Commerce, Inc.*		16		3,107
CommVault Systems, Inc.*		19		2,923
Varonis Systems, Inc.*		48		2,712
ExlService Holdings, Inc.*		68		2,594
Insight Enterprises, Inc.*		12		2,585
Maximus, Inc.		27		2,515
Altair Engineering, Inc. — Class A*		25		2,388
ACI Worldwide, Inc.*		46		2,341
Zeta Global Holdings Corp. — Class A*		77		2,297
Impinj, Inc.*		10		2,165
Tenable Holdings, Inc.*		51		2,067
Qualys, Inc.*		16		2,055
Box, Inc. — Class A*		61		1,997
Rambus, Inc.*		47		1,984
ASGN, Inc.*		20		1,865
Workiva, Inc.*		22		1,741
Clearwater Analytics Holdings, Inc. — Class A*		66		1,667
Silicon Laboratories, Inc.*		14		1,618
Power Integrations, Inc.		25		1,603
FormFactor, Inc.*		34		1,564
Blackbaud, Inc.*		18		1,524
Axcelis Technologies, Inc.*		14		1,468
Evolent Health, Inc. — Class A*		50		1,414
BlackLine, Inc.*		25		1,379
Envestnet, Inc.*		22		1,378
SiTime Corp.*		8		1,372
Synaptics, Inc.*		17		1,319
ACV Auctions, Inc. — Class A*		64		1,301
Diodes, Inc.*		20		1,282
Progress Software Corp.		19		1,280
Semtech Corp.*		28		1,278
Clear Secure, Inc. — Class A		38		1,259
DigitalOcean Holdings, Inc.*		29		1,171
Agilysys, Inc.*		10		1,090
Kulicke & Soffa Industries, Inc.		24		1,083
Rapid7, Inc.*		27		1,077
WNS Holdings Ltd.*		20		1,054
Freshworks, Inc. — Class A*		89		1,022
Vertex, Inc. — Class A*		24		924
Braze, Inc. — Class A*		28		906
Ambarella, Inc.*		16		902
NCR Atleos Corp.*		31		884
C3.ai, Inc. — Class A*		36		872
NCR Voyix Corp.*		63		855
Intapp, Inc.*		17		813
Privia Health Group, Inc.*		44		801
Veeco Instruments, Inc.*		24		795
PAR Technology Corp.*		15		781
Ultra Clean Holdings, Inc.*		19		759
IonQ, Inc.*,1		86		752
Donnelley Financial Solutions, Inc.*		11		724
PagerDuty, Inc.*		39		723
Photronics, Inc.*		27		669
Verint Systems, Inc.*		26		659
NetScout Systems, Inc.*		30		652
AvePoint, Inc.*		55		647
CSG Systems International, Inc.		13		632
Sprout Social, Inc. — Class A*		21		611
AvidXchange Holdings, Inc.*		75		608
Alkami Technology, Inc.*		19		599
PowerSchool Holdings, Inc. — Class A*		26		593
Appian Corp. — Class A*		17		580
SoundHound AI, Inc. — Class A*,1		123		573
Adeia, Inc.		47		560
Jamf Holding Corp.*		32		555
Waystar Holding Corp.*		19		530
Alignment Healthcare, Inc.*		44		520
Xerox Holdings Corp.		50		519
Cohu, Inc.*		20		514
Matterport, Inc.*		114		513
Phreesia, Inc.*		22		501
MaxLinear, Inc. — Class A*		34		492
Pitney Bowes, Inc.		69		492
Diebold Nixdorf, Inc.*		11		491
Daily Journal Corp.*		1		490
Sapiens International Corporation N.V.		13		485
Zuora, Inc. — Class A*		56		483
SMART Global Holdings, Inc.*		22		461
ACM Research, Inc. — Class A*		22		447
Schrodinger Incorporated/United States*		24		445
Fastly, Inc. — Class A*		56		424
Digi International, Inc.*		15		413
PDF Solutions, Inc.*		13		412
N-able, Inc.*		31		405
Asana, Inc. — Class A*		34		394
Blend Labs, Inc. — Class A*		100		375
Alpha & Omega Semiconductor Ltd.*		10		371
PROS Holdings, Inc.*		20		370
Grid Dynamics Holdings, Inc.*		25		350
Integral Ad Science Holding Corp.*		31		335
E2open Parent Holdings, Inc.*		74		326
Vimeo, Inc.*		64		323
Yext, Inc.*		46		318
SolarWinds Corp.		24		313
Amplitude, Inc. — Class A*		33		296
V2X, Inc.*		5		279
Conduent, Inc.*		68		274
PubMatic, Inc. — Class A*		18		268

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Technology - 3.2% (continued)
OneSpan, Inc.*		16	$	267
SEMrush Holdings, Inc. — Class A*		16		251
MeridianLink, Inc.*		12		247
CEVA, Inc.*		10		242
NextNav, Inc.*		32		240
Instructure Holdings, Inc.*		10		236
GigaCloud Technology, Inc. — Class A*		10		230
Simulations Plus, Inc.		7		224
Olo, Inc. — Class A*		45		223
Weave Communications, Inc.*		17		218
I3 Verticals, Inc. — Class A*		10		213
Health Catalyst, Inc.*		25		204
Innodata, Inc.*		12		201
Enfusion, Inc. — Class A*		21		199
Climb Global Solutions, Inc.		2		199
PlayAGS, Inc.*		17		194
Bandwidth, Inc. — Class A*		11		193
Pagaya Technologies Ltd. — Class A*,1		18		190
Thoughtworks Holding, Inc.*		43		190
Consensus Cloud Solutions, Inc.*		8		188
Digimarc Corp.*		7		188
Cantaloupe, Inc.*		25		185
Ibotta, Inc. — Class A*,1		3		185
BigCommerce Holdings, Inc.*		30		176
Mitek Systems, Inc.*		20		173
Unisys Corp.*		29		165
Planet Labs PBC*		73		163
American Software, Inc. — Class A		14		157
3D Systems Corp.*		55		156
Aehr Test Systems*		12		154
Red Violet, Inc.*		5		142
Cricut, Inc. — Class A		20		139
Navitas Semiconductor Corp.*		55		135
Corsair Gaming, Inc.*		19		132
Vishay Precision Group, Inc.*		5		129
Digital Turbine, Inc.*		41		126
Ouster, Inc.*		19		120
Life360, Inc.*,1		3		118
Immersion Corp.		13		116
Domo, Inc. — Class B*		15		113
Talkspace, Inc.*		53		111
SkyWater Technology, Inc.*		12		109
8x8, Inc.*		51		104
Definitive Healthcare Corp.*		23		103
EverCommerce, Inc.*		9		93
Arteris, Inc.*		12		93
ReposiTrak, Inc.1		5		92
Asure Software, Inc.*		10		91
Telos Corp.*		24		86
Inspired Entertainment, Inc.*		9		83
Outbrain, Inc.*		17		83
IBEX Holdings Ltd.*		4		80
Viant Technology, Inc. — Class A*		7		78
CS Disco, Inc.*		13		76
ON24, Inc.*		12		73
Rackspace Technology, Inc.*		29		71
BigBear.ai Holdings, Inc.*		44		64
Richardson Electronics Ltd.		5		62
Playstudios, Inc.*		38		57
Kaltura, Inc.*		42		57
Cerence, Inc.*		18		57
TTEC Holdings, Inc.		9		53
Porch Group, Inc.*		34		52
Rigetti Computing, Inc.*,1		61		48
Everspin Technologies, Inc.*		8		47
QuickLogic Corp.*		6		46
eGain Corp.*		9		46
Rimini Street, Inc.*		23		43
D-Wave Quantum, Inc.*,1		38		37
Rekor Systems, Inc.*		31		37
WM Technology, Inc.*		36		31
iLearningEngines Holdings, Inc.*		13		22
Golden Matrix Group, Inc.*		9		21
System1, Inc.*		10		11
GCT Semiconductor Holding, Inc.*		3		10
Airship AI Holdings, Inc.*		1		2
Total Technology				109,147
Energy - 1.7%
ChampionX Corp.		82		2,472
Noble Corporation plc		60		2,175
Murphy Oil Corp.		63		2,126
CNX Resources Corp.*		65		2,117
SM Energy Co.		50		1,999
Magnolia Oil & Gas Corp. — Class A		75		1,832
Sunrun, Inc.*		95		1,716
California Resources Corp.		30		1,574
Northern Oil & Gas, Inc.		43		1,523
Tidewater, Inc.*		21		1,508
Valaris Ltd.*		27		1,505
Peabody Energy Corp.		56		1,486
Warrior Met Coal, Inc.		23		1,470
Archrock, Inc.		72		1,457
PBF Energy, Inc. — Class A		45		1,393
CONSOL Energy, Inc.		13		1,360
Transocean Ltd.*		315		1,339
Liberty Energy, Inc. — Class A		70		1,336
Patterson-UTI Energy, Inc.		168		1,285
Helmerich & Payne, Inc.		42		1,278
Seadrill Ltd.*		30		1,192
Alpha Metallurgical Resources, Inc.*		5		1,181
Arch Resources, Inc.		8		1,105
Oceaneering International, Inc.*		44		1,094
Gulfport Energy Corp.*		6		908
Kosmos Energy Ltd.*		202		814
Kinetik Holdings, Inc. — Class A		17		769
Sitio Royalties Corp. — Class A		36		750
Plug Power, Inc.*,1		322		728
Expro Group Holdings N.V.*		41		704
Helix Energy Solutions Group, Inc.*		62		688
Talos Energy, Inc.*		64		662
Crescent Energy Co. — Class A		60		657
Atlas Energy Solutions, Inc.		29		632
DNOW, Inc.*		46		595
Fluence Energy, Inc.*		26		590
Borr Drilling Ltd.		102		560
Sable Offshore Corp.*		22		520
Delek US Holdings, Inc.		27		506
Sunnova Energy International, Inc.*		47		458
Comstock Resources, Inc.*		40		445

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Energy - 1.7% (continued)
Array Technologies, Inc.*		66	$	436
Select Water Solutions, Inc. — Class A		39		434
Par Pacific Holdings, Inc.*		24		422
Shoals Technologies Group, Inc. — Class A*		74		415
Bristow Group, Inc.*		11		382
Green Plains, Inc.*		28		379
Core Laboratories, Inc.		20		371
CVR Energy, Inc.		15		345
REX American Resources Corp.*		7		324
Vital Energy, Inc.*		12		323
SunCoke Energy, Inc.		36		312
ProPetro Holding Corp.*		38		291
Vitesse Energy, Inc.		11		264
Kodiak Gas Services, Inc.		9		261
VAALCO Energy, Inc.		45		258
Nabors Industries Ltd.*		4		258
Newpark Resources, Inc.*		36		250
NextDecade Corp.*		50		236
RPC, Inc.		37		235
Diversified Energy Company plc		20		228
Innovex International, Inc.*		15		220
Aris Water Solutions, Inc. — Class A		12		202
SandRidge Energy, Inc.		14		171
TETRA Technologies, Inc.*		55		171
Berry Corp.		33		170
Excelerate Energy, Inc. — Class A		7		154
Montauk Renewables, Inc.*		29		151
Solaris Oilfield Infrastructure, Inc. — Class A		11		140
Granite Ridge Resources, Inc.		23		137
Riley Exploration Permian, Inc.		5		132
Ramaco Resources, Inc. — Class A		11		129
Matrix Service Co.*		11		127
Oil States International, Inc.*		27		124
Amplify Energy Corp.*		17		111
SEACOR Marine Holdings, Inc.*		11		106
DMC Global, Inc.*		8		104
Hallador Energy Co.*		11		104
Ring Energy, Inc.*		64		102
Natural Gas Services Group, Inc.*		5		96
W&T Offshore, Inc.		43		92
TPI Composites, Inc.*,1		20		91
Ranger Energy Services, Inc.		7		83
HighPeak Energy, Inc.1		6		83
Forum Energy Technologies, Inc.*		5		77
FuelCell Energy, Inc.*,1		197		75
Evolution Petroleum Corp.		13		69
ProFrac Holding Corp. — Class A*		10		68
FutureFuel Corp.		11		63
NACCO Industries, Inc. — Class A		2		57
Geospace Technologies Corp.*		5		52
ASP Isotopes, Inc.*		17		47
Freyr Battery, Inc.*		48		47
Mammoth Energy Services, Inc.*		11		45
Energy Vault Holdings, Inc.*		45		43
Aemetis, Inc.*		16		37
Empire Petroleum Corp.*		6		32
Stem, Inc.*		66		23
Ramaco Resources, Inc. — Class B		2		22
Prairie Operating Co.*		2		18
Drilling Tools International Corp.*		4		15
Verde Clean Fuels, Inc.*		1		4
SolarMax Technology, Inc.*		2		1
Total Energy				58,728
Communications - 1.4%
Lumen Technologies, Inc.*		437		3,103
Q2 Holdings, Inc.*		26		2,074
Credo Technology Group Holding Ltd.*		55		1,694
InterDigital, Inc.		11		1,558
AST SpaceMobile, Inc.*,1		58		1,517
Hims & Hers Health, Inc.*		82		1,510
Cogent Communications Holdings, Inc.		19		1,442
EchoStar Corp. — Class A*		53		1,315
Squarespace, Inc. — Class A*		26		1,207
TEGNA, Inc.		73		1,152
Cargurus, Inc.*		38		1,141
Perficient, Inc.*		15		1,132
ePlus, Inc.*		11		1,082
Yelp, Inc. — Class A*		29		1,017
Calix, Inc.*		26		1,008
Telephone & Data Systems, Inc.		43		1,000
DigitalBridge Group, Inc.		69		975
Ziff Davis, Inc.*		20		973
Viavi Solutions, Inc.*		95		857
Extreme Networks, Inc.*		54		812
Magnite, Inc.*		55		762
Cable One, Inc.		2		700
Harmonic, Inc.*		48		699
Viasat, Inc.*		53		633
Infinera Corp.*,1		87		587
Upwork, Inc.*		54		564
CommScope Holding Company, Inc.*		92		562
Opendoor Technologies, Inc.*		269		538
Liberty Latin America Ltd. — Class C*		56		532
Sphere Entertainment Co.*		12		530
Cars.com, Inc.*		28		469
A10 Networks, Inc.		31		448
QuinStreet, Inc.*		23		440
Revolve Group, Inc.*		17		421
Globalstar, Inc.*		315		390
Shutterstock, Inc.		11		389
Figs, Inc. — Class A*		56		383
Applied Digital Corp.*,1		43		355
Sprinklr, Inc. — Class A*		45		348
Gannett Company, Inc.*		61		343
Despegar.com Corp.*		27		335
Scholastic Corp.		10		320
HealthStream, Inc.		11		317
Shenandoah Telecommunications Co.		21		296
Couchbase, Inc.*		17		274
Open Lending Corp. — Class A*		44		269
TechTarget, Inc.*		11		269
Bumble, Inc. — Class A*		42		268

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Communications - 1.4% (continued)
IDT Corp. — Class B		7	$	267
Stagwell, Inc.*		37		260
Clear Channel Outdoor Holdings, Inc.*		152		243
Thryv Holdings, Inc.*		14		241
NETGEAR, Inc.*		12		241
EverQuote, Inc. — Class A*		11		232
National CineMedia, Inc.*		31		218
Sinclair, Inc.		14		214
Liquidity Services, Inc.*		9		205
ADTRAN Holdings, Inc.*		34		202
Beyond, Inc.*		20		202
Gogo, Inc.*		28		201
MediaAlpha, Inc. — Class A*		11		199
Gray Television, Inc.		37		198
Powerfleet Incorporated NJ*		39		195
Clearfield, Inc.*		5		195
Nextdoor Holdings, Inc.*		76		188
Anterix, Inc.*		5		188
fuboTV, Inc.*		128		182
Getty Images Holdings, Inc.*		44		168
Boston Omaha Corp. — Class A*		11		164
ATN International, Inc.		5		162
Advantage Solutions, Inc.*		47		161
Consolidated Communications Holdings, Inc.*		33		153
RealReal, Inc.*		43		135
Liberty Latin America Ltd. — Class A*		14		134
Grindr, Inc.*		11		131
Preformed Line Products Co.		1		128
Ribbon Communications, Inc.*		39		127
Vivid Seats, Inc. — Class A*		34		126
Ooma, Inc.*		11		125
AMC Networks, Inc. — Class A*		14		122
Spok Holdings, Inc.		8		120
WideOpenWest, Inc.*		21		110
Stitch Fix, Inc. — Class A*		39		110
Backblaze, Inc. — Class A*		17		109
Aviat Networks, Inc.*		5		108
Lands' End, Inc.*		6		104
Groupon, Inc.*,1		10		98
Eventbrite, Inc. — Class A*		35		96
BARK, Inc.*		57		93
1-800-Flowers.com, Inc. — Class A*		11		87
iHeartMedia, Inc. — Class A*		45		83
Innovid Corp.*		46		83
LifeMD, Inc.*		15		79
Gambling.com Group Ltd.*		7		70
AudioEye, Inc.*		3		69
Tucows, Inc. — Class A*		3		63
OptimizeRx Corp.*		8		62
Townsquare Media, Inc. — Class A		6		61
EW Scripps Co. — Class A*		26		59
Entravision Communications Corp. — Class A		27		56
Cardlytics, Inc.*		17		54
1stdibs.com, Inc.*		11		49
RumbleON, Inc. — Class B*		7		34
Nerdy, Inc.*		31		30
LiveOne, Inc.*		30		28
BlackSky Technology, Inc.*		5		24
Mondee Holdings, Inc.*		16		22
Terran Orbital Corp.*,1		67		17
Vacasa, Inc. — Class A*		4		11
Solo Brands, Inc. — Class A*		7		10
Total Communications				46,916
Basic Materials - 1.2%
Carpenter Technology Corp.		21		3,351
Commercial Metals Co.		50		2,748
Cabot Corp.		24		2,683
Balchem Corp.		14		2,464
Avient Corp.		39		1,962
HB Fuller Co.		24		1,905
Hecla Mining Co.		251		1,674
Sensient Technologies Corp.		18		1,444
Arcadium Lithium plc*		468		1,334
Sylvamo Corp.		15		1,288
Innospec, Inc.		11		1,244
Coeur Mining, Inc.*		172		1,183
Minerals Technologies, Inc.		14		1,081
Uranium Energy Corp.*		171		1,062
Hawkins, Inc.		8		1,020
Quaker Chemical Corp.		6		1,011
Constellium SE*		56		911
Rogers Corp.*		8		904
Perimeter Solutions S.A.*		58		780
Tronox Holdings plc — Class A		52		761
Stepan Co.		9		695
Ingevity Corp.*		16		624
Kaiser Aluminum Corp.		7		508
SSR Mining, Inc.*		88		500
United States Lime & Minerals, Inc.		5		488
Orion S.A.		25		445
Novagold Resources, Inc.*		106		435
Mativ Holdings, Inc.		23		391
Energy Fuels, Inc.*		70		384
Century Aluminum Co.*		23		373
Ecovyst, Inc.*		51		349
AdvanSix, Inc.		11		334
Centrus Energy Corp. — Class A*		6		329
Koppers Holdings, Inc.		9		329
Metals Acquisition Ltd. — Class A*		23		319
Encore Energy Corp.*		77		311
Ivanhoe Electric Incorporated / US*		36		305
Haynes International, Inc.		5		298
Rayonier Advanced Materials, Inc.*		28		240
Radius Recycling, Inc. — Class A		11		204
Compass Minerals International, Inc.		15		180
Perpetua Resources Corp.*		17		159
Universal Stainless & Alloy Products, Inc.*		4		154
Lightwave Logic, Inc.*		52		144
Ur-Energy, Inc.*		119		142
Oil-Dri Corporation of America		2		138
i-80 Gold Corp.*		113		131
Intrepid Potash, Inc.*		5		120
Kronos Worldwide, Inc.		9		112
Lifezone Metals Ltd.*		16		112
Caledonia Mining Corporation plc		7		105
Codexis, Inc.*		30		92
Piedmont Lithium, Inc.*		8		71

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 34.3% (continued)
Basic Materials - 1.2% (continued)
Dakota Gold Corp.*		29	$	68
American Vanguard Corp.		11		58
Contango ORE, Inc.*		3		58
Northern Technologies International Corp.		3		37
Valhi, Inc.		1		33
Critical Metals Corp.*		3		22
Total Basic Materials				40,607
Utilities - 1.0%
Brookfield Infrastructure Corp. — Class A		52		2,258
Portland General Electric Co.		44		2,108
New Jersey Resources Corp.		43		2,030
Southwest Gas Holdings, Inc.		26		1,918
Black Hills Corp.		30		1,834
ONE Gas, Inc.		24		1,786
Ormat Technologies, Inc.		23		1,770
TXNM Energy, Inc.		39		1,707
Spire, Inc.		24		1,615
ALLETE, Inc.		25		1,605
Northwestern Energy Group, Inc.		27		1,545
MGE Energy, Inc.		16		1,463
Otter Tail Corp.		18		1,407
California Water Service Group		25		1,355
American States Water Co.		16		1,333
Avista Corp.		34		1,317
Chesapeake Utilities Corp.		10		1,242
SJW Group		14		813
Hawaiian Electric Industries, Inc.*		72		697
Northwest Natural Holding Co.		16		653
Ameresco, Inc. — Class A*		14		531
Middlesex Water Co.		8		522
Unitil Corp.		7		424
York Water Co.		6		225
Consolidated Water Company Ltd.		6		151
Altus Power, Inc.*		33		105
Genie Energy Ltd. — Class B		6		97
RGC Resources, Inc.		4		90
Global Water Resources, Inc.		5		63
Total Utilities				32,664
Government - 0.0%
Banco Latinoamericano de Comercio Exterior S.A. — Class E		12		390
Total Common Stocks
(Cost $1,069,691)				1,159,782
WARRANTS† - 0.0%
Danimer Scientific, Inc.
Expiring 07/15/25*		1		–
Total Warrants
(Cost $–)				–
RIGHTS† - 0.0%
Consumer, Non-cyclical - 0.0%
Cartesian Therapeutics Inc.		69		–
Novartis AG†††		35		–
Sanofi SA*		15		–
Tobira Therapeutics, Inc.*,†††		8		–
Total Consumer, Non-cyclical				–
Energy - 0.0%
Empire Petroleum Corp.
Expires 10/16/24		6		–
Total Rights
(Cost $13)				–
EXCHANGE-TRADED FUNDS***,† - 24.7%
Vanguard Russell 2000 ETF1		4,679		418,116
iShares Russell 2000 Index ETF		1,889		417,261
Total Exchange-Traded Funds
(Cost $827,474)				835,377
MUTUAL FUNDS† - 18.5%
Guggenheim Ultra Short Duration Fund — Institutional Class2		38,037		381,134
Guggenheim Strategy Fund II2		9,842		244,092
Total Mutual Funds
(Cost $616,793)				625,226

		Face Amount
U.S. TREASURY BILLS†† - 2.7%
U.S. Treasury Bills
4.81% due 12/12/243,4	$	50,000	49,553
4.63% due 10/10/244,5		43,000	42,950
Total U.S. Treasury Bills
(Cost $92,464)			92,503
REPURCHASE AGREEMENTS††,6 - 19.0%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/243		352,654	352,654
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/243		291,276	291,276
Total Repurchase Agreements
(Cost $643,930)			643,930

	Shares
SECURITIES LENDING COLLATERAL†,7 - 9.8%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%8	331,150		331,150
Total Securities Lending Collateral
(Cost $331,150)			331,150
Total Investments - 109.0%
(Cost $3,581,515)		$	3,687,968
Other Assets & Liabilities, net - (9.0)%			(303,718	)
Total Net Assets - 100.0%		$	3,384,250

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Futures Contracts
Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
Russell 2000 Index Mini Futures Contracts		6	Dec 2024	$	674,940	$	13,101

Total Return Swap Agreements
Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements††
Goldman Sachs International	Russell 2000 Index	Pay	4.93% (Federal Funds Rate + 0.10%)	At Maturity	12/18/24		459	$	1,023,157	$	14,611
BNP Paribas	Russell 2000 Index	Pay	5.38% (Federal Funds Rate + 0.55%)	At Maturity	12/19/24		341		760,651		10,952
Barclays Bank plc	Russell 2000 Index	Pay	5.29% (SOFR + 0.45%)	At Maturity	12/19/24		277		618,298		1,657
								$	2,402,106	$	27,220

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Affiliated issuer.
3	All or a portion of this security is pledged as equity index swap collateral at September 30, 2024.
4	Rate indicated is the effective yield at the time of purchase.
5	All or a portion of this security is pledged as futures collateral at September 30, 2024.
6	Repurchase Agreements — See Note 4.
7	Securities lending collateral — See Note 5.
8	Rate indicated is the 7-day yield as of September 30, 2024.

plc — Public Limited Company

REIT — Real Estate Investment Trust

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)	Level 1 Quoted Prices			Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs			Total
Common Stocks	$	1,159,782		$	—	$	—	*	$	1,159,782
Warrants		—	*		—		—			—
Rights		—	*		—		—	*		—
Exchange-Traded Funds		835,377			—		—			835,377
Mutual Funds		625,226			—		—			625,226
U.S. Treasury Bills		—			92,503		—			92,503
Repurchase Agreements		—			643,930		—			643,930
Securities Lending Collateral		331,150			—		—			331,150
Equity Futures Contracts**		13,101			—		—			13,101
Equity Index Swap Agreements**		—			27,220		—			27,220
Total Assets	$	2,964,636		$	763,653	$	—		$	3,728,289

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

^*  Security has a market value of $0.

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

Affiliated Transactions

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

The Fund may invest in certain of the underlying series of Guggenheim Strategy Funds Trust, including Guggenheim Strategy Fund II, Guggenheim Strategy Fund III and Guggenheim Variable Insurance Strategy Fund III (collectively, the “Guggenheim Strategy Funds”), each of which are open-end management investment companies managed by GI. The Guggenheim Strategy Funds, which launched on March 11, 2014, are offered as short term investment options only to mutual funds, trusts, and other accounts managed by GI and/or its affiliates, and are not available to the public. The Guggenheim Strategy Funds pay no investment management fees. The Guggenheim Strategy Funds' annual report on Form N-CSR dated September 30, 2023 is available publicly or upon request. This information is available from the EDGAR database on the SEC's website at https://www.sec.gov/Archives/edgar/data/1601445/000182126823000217/gug86449-ncsr.htm. The Fund may invest in certain of the underlying series of Guggenheim Funds Trust, which are open-end management investment companies managed by GI, are available to the public and whose most recent annual report on Form N-CSR is available publicly or upon request.

Transactions during the period ended September 30, 2024, in which the company is an affiliated issuer, were as follows:
Security Name	Value 12/31/23		Additions		Reductions		Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value 09/30/24		Shares 09/30/24		Investment Income
Mutual Funds
Guggenheim Strategy Fund II	$	241,140	$	–	$	–	$	–	$	2,952	$	244,092		9,842	$	10,336
Guggenheim Ultra Short Duration Fund — Institutional Class		374,667		–		–		–		6,467		381,134		38,037		14,707
	$	615,807	$	–	$	–	$	–	$	9,419	$	625,226			$	25,043

Russell 2000®  2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
RIGHTS††† - 0.0%
Consumer, Non-cyclical - 0.0%
Tobira Therapeutics, Inc.*
		7	$	–
Total Rights
(Cost $–)				–
EXCHANGE-TRADED FUNDS***,† - 2.6%
Vanguard Russell 2000 ETF1		2,308		206,243
iShares Russell 2000 Index ETF		932		205,870
Total Exchange-Traded Funds
(Cost $408,358)				412,113
	Face Amount
FEDERAL AGENCY DISCOUNT NOTES†† - 25.5%
Freddie Mac
4.60% due 10/02/242	$	2,000,000		1,999,745
Federal Home Loan Bank
4.60% due 10/02/242		1,500,000		1,499,808
Fannie Mae
4.64% due 10/23/242		500,000		498,582
Total Federal Agency Discount Notes
(Cost $3,998,135)				3,998,135
U.S. TREASURY BILLS†† - 15.4%
U.S. Treasury Bills
4.62% due 10/01/242		1,400,000		1,400,000
4.63% due 10/10/242,3		463,000		462,462
4.50% due 12/12/242		300,000		297,318
4.85% due 12/12/242,4		250,000		247,765
Total U.S. Treasury Bills
(Cost $2,407,280)				2,407,545
REPURCHASE AGREEMENTS††,5 - 55.7%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/244		4,792,060		4,792,060
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/244		3,958,019		3,958,019
Total Repurchase Agreements
(Cost $8,750,079)				8,750,079
	Shares
SECURITIES LENDING COLLATERAL†,6 - 0.9%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%7		138,502		138,502
Total Securities Lending Collateral
(Cost $138,502)				138,502
Total Investments - 100.1%
(Cost $15,702,354)			$	15,706,374
Other Assets & Liabilities, net - (0.1)%				(11,160	)
Total Net Assets - 100.0%			$	15,695,214

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
Russell 2000 Index Mini Futures Contracts		55	Dec 2024	$	6,186,950	$	120,091

Total Return Swap Agreements 

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements††
Goldman Sachs International	Russell 2000 Index	Pay	4.93% (Federal Funds Rate + 0.10%)	At Maturity	12/18/24	6,692	$	14,924,047	$	214,791
BNP Paribas	Russell 2000 Index	Pay	5.38% (Federal Funds Rate + 0.55%)	At Maturity	12/19/24	1,720		3,834,978		54,940
Barclays Bank plc	Russell 2000 Index	Pay	5.29% (SOFR + 0.45%)	At Maturity	12/19/24	2,698		6,016,358		16,128
							$	24,775,383	$	285,859

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.

Russell 2000®  2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Rate indicated is the effective yield at the time of purchase.
3	All or a portion of this security is pledged as futures collateral at September 30, 2024.
4	All or a portion of this security is pledged as equity index swap collateral at September 30, 2024.
5	Repurchase Agreements — See Note 4.
6	Securities lending collateral — See Note 5.
7	Rate indicated is the 7-day yield as of September 30, 2024.

plc — Public Limited Company

SOFR — Secured Overnight Financing Rate

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs			Total
Rights	$	—	$	—	$	—	*	$	—
Exchange-Traded Funds		412,113		—		—			412,113
Federal Agency Discount Notes		—		3,998,135		—			3,998,135
U.S. Treasury Bills		—		2,407,545		—			2,407,545
Repurchase Agreements		—		8,750,079		—			8,750,079
Securities Lending Collateral		138,502		—		—			138,502
Equity Futures Contracts**		120,091		—		—			120,091
Equity Index Swap Agreements**		—		285,859		—			285,859
Total Assets	$	670,706	$	15,441,618	$	—		$	16,112,324

*	Security has a market value of $0.
**	This derivative is reported as unrealized appreciation/depreciation at period end.

S&P 500® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 77.9%
Technology - 24.0%
Apple, Inc.		8,978	$	2,091,874
Microsoft Corp.		4,391		1,889,447
NVIDIA Corp.		14,533		1,764,888
Broadcom, Inc.		2,749		474,203
Oracle Corp.		944		160,858
Advanced Micro Devices, Inc.*		956		156,860
Salesforce, Inc.		572		156,562
Adobe, Inc.*		262		135,658
Accenture plc — Class A		370		130,788
International Business Machines Corp.		544		120,267
QUALCOMM, Inc.		658		111,893
Texas Instruments, Inc.		539		111,341
ServiceNow, Inc.*		122		109,116
Intuit, Inc.		165		102,465
Applied Materials, Inc.		489		98,802
Micron Technology, Inc.		655		67,930
Analog Devices, Inc.		293		67,440
Lam Research Corp.		77		62,838
KLA Corp.		79		61,178
Fiserv, Inc.*		340		61,081
Intel Corp.*		2,521		59,143
Synopsys, Inc.*		91		46,081
Cadence Design Systems, Inc.*		162		43,907
Palantir Technologies, Inc. — Class A*		1,179		43,859
Crowdstrike Holdings, Inc. — Class A*		136		38,144
NXP Semiconductor N.V.		150		36,002
Roper Technologies, Inc.		63		35,056
Autodesk, Inc.*		127		34,986
Fortinet, Inc.*		375		29,081
Fair Isaac Corp.*		14		27,209
TE Connectivity plc		180		27,178
Fidelity National Information Services, Inc.		322		26,967
MSCI, Inc. — Class A		46		26,815
Monolithic Power Systems, Inc.		29		26,811
Microchip Technology, Inc.		317		25,452
Paychex, Inc.		189		25,362
Gartner, Inc.*		46		23,311
Cognizant Technology Solutions Corp. — Class A		293		22,614
HP, Inc.		577		20,697
Electronic Arts, Inc.		142		20,368
Dell Technologies, Inc. — Class C		168		19,915
ON Semiconductor Corp.*		253		18,370
ANSYS, Inc.*		52		16,569
Hewlett Packard Enterprise Co.		768		15,713
NetApp, Inc.		121		14,945
Broadridge Financial Solutions, Inc.		69		14,837
Take-Two Interactive Software, Inc.*		96		14,756
Tyler Technologies, Inc.*		25		14,593
Seagate Technology Holdings plc		124		13,582
Western Digital Corp.*		193		13,180
Leidos Holdings, Inc.		80		13,040
Teradyne, Inc.		96		12,857
PTC, Inc.*		71		12,827
Super Micro Computer, Inc.*		30		12,492
Zebra Technologies Corp. — Class A*		30		11,110
Skyworks Solutions, Inc.		94		9,284
Akamai Technologies, Inc.*		90		9,086
Jack Henry & Associates, Inc.		43		7,591
EPAM Systems, Inc.*		34		6,767
Qorvo, Inc.*		56		5,785
Dayforce, Inc.*		93		5,696
Paycom Software, Inc.		29		4,831
Amentum Holdings, Inc.*		74		2,386
Total Technology				8,844,744
Consumer, Non-cyclical - 13.5%
Eli Lilly & Co.		466		412,848
UnitedHealth Group, Inc.		546		319,235
Procter & Gamble Co.		1,391		240,921
Johnson & Johnson		1,422		230,449
AbbVie, Inc.		1,043		205,972
Merck & Company, Inc.		1,497		169,999
Coca-Cola Co.		2,292		164,703
Thermo Fisher Scientific, Inc.		226		139,797
PepsiCo, Inc.		811		137,910
Abbott Laboratories		1,028		117,202
Philip Morris International, Inc.		919		111,566
Danaher Corp.		380		105,648
Intuitive Surgical, Inc.*		210		103,167
Amgen, Inc.		317		102,141
S&P Global, Inc.		189		97,641
Pfizer, Inc.		3,348		96,891
Stryker Corp.		203		73,336
Boston Scientific Corp.*		870		72,906
Elevance Health, Inc.		137		71,240
Vertex Pharmaceuticals, Inc.*		152		70,692
Medtronic plc		758		68,243
Automatic Data Processing, Inc.		241		66,692
Regeneron Pharmaceuticals, Inc.*		63		66,228
Bristol-Myers Squibb Co.		1,198		61,985
Gilead Sciences, Inc.		736		61,706
Mondelez International, Inc. — Class A		789		58,126
Cigna Group		165		57,163
Zoetis, Inc.		268		52,362
Altria Group, Inc.		1,008		51,448
Colgate-Palmolive Co.		483		50,141
PayPal Holdings, Inc.*		604		47,130
CVS Health Corp.		743		46,720
HCA Healthcare, Inc.		110		44,707
Moody's Corp.		93		44,137
Cintas Corp.		202		41,588
Becton Dickinson & Co.		171		41,228
McKesson Corp.		77		38,070
United Rentals, Inc.		39		31,580
Kimberly-Clark Corp.		199		28,314
Kenvue, Inc.		1,131		26,160
Quanta Services, Inc.		87		25,939
Agilent Technologies, Inc.		172		25,539
GE HealthCare Technologies, Inc.		270		25,339
IDEXX Laboratories, Inc.*		49		24,756

S&P 500® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 77.9% (continued)
Consumer, Non-cyclical - 13.5% (continued)
General Mills, Inc.	329	$	24,297
IQVIA Holdings, Inc.*	102		24,171
Corteva, Inc.	409		24,045
Constellation Brands, Inc. — Class A	93		23,965
Edwards Lifesciences Corp.*	356		23,492
Keurig Dr Pepper, Inc.	625		23,425
Centene Corp.*	311		23,412
Cencora, Inc. — Class A	103		23,183
Sysco Corp.	291		22,715
Verisk Analytics, Inc. — Class A	84		22,509
Humana, Inc.	71		22,489
Kroger Co.	392		22,462
Monster Beverage Corp.*	417		21,755
Equifax, Inc.	73		21,452
ResMed, Inc.	87		21,238
Kraft Heinz Co.	521		18,292
Archer-Daniels-Midland Co.	282		16,847
Hershey Co.	87		16,685
Biogen, Inc.*	86		16,670
Cardinal Health, Inc.	144		15,915
Dexcom, Inc.*	237		15,888
Global Payments, Inc.	150		15,363
Church & Dwight Company, Inc.	145		15,184
STERIS plc	58		14,067
Estee Lauder Companies, Inc. — Class A	138		13,757
Moderna, Inc.*	200		13,366
Cooper Companies, Inc.*	118		13,020
Zimmer Biomet Holdings, Inc.	120		12,954
West Pharmaceutical Services, Inc.	43		12,907
Corpay, Inc.*	41		12,823
Kellanova	158		12,752
Waters Corp.*	35		12,596
McCormick & Company, Inc.	149		12,263
Molina Healthcare, Inc.*	35		12,060
Clorox Co.	73		11,892
Baxter International, Inc.	301		11,429
Labcorp Holdings, Inc.	50		11,174
Hologic, Inc.*	137		11,160
Avery Dennison Corp.	48		10,597
Align Technology, Inc.*	41		10,427
Quest Diagnostics, Inc.	66		10,246
Tyson Foods, Inc. — Class A	169		10,066
Insulet Corp.*	41		9,543
Revvity, Inc.	73		9,326
Conagra Brands, Inc.	283		9,203
Rollins, Inc.	166		8,396
Viatris, Inc.	705		8,185
Bunge Global S.A.	84		8,118
Universal Health Services, Inc. — Class B	35		8,015
J M Smucker Co.	63		7,629
Bio-Techne Corp.	93		7,433
Teleflex, Inc.	28		6,925
Catalent, Inc.*	107		6,481
Incyte Corp.*	94		6,214
Charles River Laboratories International, Inc.*	31		6,106
Molson Coors Beverage Co. — Class B	104		5,982
Solventum Corp.*	82		5,717
Campbell Soup Co.	116		5,675
MarketAxess Holdings, Inc.	22		5,636
Lamb Weston Holdings, Inc.	85		5,503
Henry Schein, Inc.*	75		5,468
Hormel Foods Corp.	172		5,452
Brown-Forman Corp. — Class B	108		5,314
DaVita, Inc.*	27		4,426
Total Consumer, Non-cyclical			4,985,322
Communications - 11.3%
Amazon.com, Inc.*	5,517		1,027,983
Meta Platforms, Inc. — Class A	1,291		739,020
Alphabet, Inc. — Class A	3,461		574,007
Alphabet, Inc. — Class C	2,838		474,485
Netflix, Inc.*	254		180,154
Cisco Systems, Inc.	2,380		126,664
Verizon Communications, Inc.	2,487		111,691
Walt Disney Co.	1,071		103,019
Comcast Corp. — Class A	2,282		95,319
Uber Technologies, Inc.*	1,241		93,273
AT&T, Inc.	4,236		93,192
Booking Holdings, Inc.	20		84,242
Palo Alto Networks, Inc.*	191		65,284
T-Mobile US, Inc.	290		59,845
Arista Networks, Inc.*	152		58,341
Motorola Solutions, Inc.	99		44,513
Airbnb, Inc. — Class A*	260		32,970
Corning, Inc.	455		20,543
eBay, Inc.	289		18,817
Charter Communications, Inc. — Class A*	57		18,473
CDW Corp.	79		17,878
GoDaddy, Inc. — Class A*	83		13,013
Omnicom Group, Inc.	116		11,993
Expedia Group, Inc.*	74		10,953
Warner Bros Discovery, Inc.*	1,318		10,874
FactSet Research Systems, Inc.	22		10,117
VeriSign, Inc.*	50		9,498
Gen Digital, Inc.	320		8,778
Juniper Networks, Inc.	194		7,562
F5, Inc.*	34		7,487
Interpublic Group of Companies, Inc.	222		7,022
News Corp. — Class A	224		5,965
Match Group, Inc.*	152		5,752
Fox Corp. — Class A	133		5,630
Paramount Global — Class B	350		3,717
Fox Corp. — Class B	78		3,026
News Corp. — Class B	66		1,845
Total Communications			4,162,945
Financial - 10.9%
Berkshire Hathaway, Inc. — Class B*	1,082		498,001
JPMorgan Chase & Co.	1,681		354,456
Visa, Inc. — Class A	987		271,376
Mastercard, Inc. — Class A	487		240,481
Bank of America Corp.	3,988		158,244
Wells Fargo & Co.	2,011		113,601
Goldman Sachs Group, Inc.	187		92,585

S&P 500® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 77.9% (continued)
Financial - 10.9% (continued)
American Express Co.	332	$	90,038
Progressive Corp.	346		87,801
BlackRock, Inc. — Class A	82		77,860
Morgan Stanley	736		76,721
Citigroup, Inc.	1,127		70,550
Prologis, Inc. REIT	547		69,075
Blackstone, Inc. — Class A	425		65,080
Marsh & McLennan Companies, Inc.	291		64,919
American Tower Corp. — Class A REIT	276		64,187
Chubb Ltd.	222		64,023
Charles Schwab Corp.	883		57,227
Intercontinental Exchange, Inc.	339		54,457
KKR & Company, Inc. — Class A	398		51,971
Equinix, Inc. REIT	56		49,707
CME Group, Inc. — Class A	213		46,999
Aon plc — Class A	128		44,287
Welltower, Inc. REIT	342		43,786
PNC Financial Services Group, Inc.	235		43,440
U.S. Bancorp	922		42,163
Arthur J Gallagher & Co.	129		36,297
Public Storage REIT	93		33,840
Capital One Financial Corp.	226		33,839
Truist Financial Corp.	791		33,831
Aflac, Inc.	298		33,316
Realty Income Corp. REIT	514		32,598
Travelers Companies, Inc.	135		31,606
Bank of New York Mellon Corp.	436		31,331
Simon Property Group, Inc. REIT	181		30,593
Crown Castle, Inc. REIT	257		30,488
Allstate Corp.	156		29,585
Digital Realty Trust, Inc. REIT	182		29,453
MetLife, Inc.	348		28,703
American International Group, Inc.	380		27,827
Ameriprise Financial, Inc.	58		27,249
Prudential Financial, Inc.	211		25,552
Arch Capital Group Ltd.*	221		24,726
Extra Space Storage, Inc. REIT	125		22,524
CBRE Group, Inc. — Class A*	178		22,157
Discover Financial Services	148		20,763
VICI Properties, Inc. REIT	619		20,619
Iron Mountain, Inc. REIT	173		20,558
Hartford Financial Services Group, Inc.	173		20,347
AvalonBay Communities, Inc. REIT	84		18,921
CoStar Group, Inc.*	242		18,257
Nasdaq, Inc.	244		17,814
Willis Towers Watson plc	60		17,672
M&T Bank Corp.	99		17,634
Fifth Third Bancorp	400		17,136
Ventas, Inc. REIT	244		15,648
State Street Corp.	176		15,571
SBA Communications Corp. REIT	63		15,164
Equity Residential REIT	202		15,041
Weyerhaeuser Co. REIT	430		14,560
Brown & Brown, Inc.	140		14,504
T. Rowe Price Group, Inc.	132		14,379
Raymond James Financial, Inc.	109		13,348
Cboe Global Markets, Inc.	62		12,702
Regions Financial Corp.	541		12,621
Huntington Bancshares, Inc.	858		12,613
Cincinnati Financial Corp.	92		12,523
Invitation Homes, Inc. REIT	337		11,883
Synchrony Financial	233		11,622
Essex Property Trust, Inc. REIT	38		11,226
Mid-America Apartment Communities, Inc. REIT	69		10,964
Alexandria Real Estate Equities, Inc. REIT	92		10,925
Citizens Financial Group, Inc.	265		10,883
Principal Financial Group, Inc.	126		10,823
Northern Trust Corp.	119		10,714
Everest Group Ltd.	26		10,188
W R Berkley Corp.	178		10,098
Healthpeak Properties, Inc. REIT	416		9,514
Kimco Realty Corp. REIT	398		9,241
KeyCorp	548		9,179
Loews Corp.	108		8,537
Erie Indemnity Co. — Class A	15		8,097
UDR, Inc. REIT	177		8,025
Camden Property Trust REIT	63		7,782
Host Hotels & Resorts, Inc. REIT	415		7,304
Regency Centers Corp. REIT	97		7,006
BXP, Inc. REIT	86		6,919
Assurant, Inc.	31		6,165
Globe Life, Inc.	53		5,613
Federal Realty Investment Trust REIT	44		5,059
Invesco Ltd.	266		4,671
Franklin Resources, Inc.	182		3,667
Total Financial			4,033,050
Consumer, Cyclical - 6.5%
Tesla, Inc.*	1,639		428,811
Home Depot, Inc.	586		237,447
Costco Wholesale Corp.	262		232,268
Walmart, Inc.	2,566		207,205
McDonald's Corp.	424		129,112
Lowe's Companies, Inc.	337		91,276
TJX Companies, Inc.	668		78,517
Starbucks Corp.	669		65,221
NIKE, Inc. — Class B	710		62,764
Chipotle Mexican Grill, Inc. — Class A*	809		46,615
Target Corp.	273		42,550
O'Reilly Automotive, Inc.*	34		39,154
Marriott International, Inc. — Class A	138		34,307
Hilton Worldwide Holdings, Inc.	146		33,653
DR Horton, Inc.	173		33,003
AutoZone, Inc.*	10		31,500
PACCAR, Inc.	310		30,591
General Motors Co.	664		29,774
Ross Stores, Inc.	197		29,650
Copart, Inc.*	517		27,091
WW Grainger, Inc.	26		27,009
Lennar Corp. — Class A	143		26,810
Cummins, Inc.	81		26,227

S&P 500® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 77.9% (continued)
Consumer, Cyclical - 6.5% (continued)
Royal Caribbean Cruises Ltd.		140	$	24,830
Ford Motor Co.		2,307		24,362
Fastenal Co.		338		24,140
Yum! Brands, Inc.		166		23,192
NVR, Inc.*		2		19,624
Delta Air Lines, Inc.		379		19,249
Tractor Supply Co.		64		18,620
Lululemon Athletica, Inc.*		68		18,452
PulteGroup, Inc.		123		17,654
Deckers Outdoor Corp.*		90		14,351
Best Buy Company, Inc.		116		11,983
Darden Restaurants, Inc.		70		11,489
Genuine Parts Co.		82		11,454
Aptiv plc*		157		11,306
United Airlines Holdings, Inc.*		194		11,070
Carnival Corp.*		597		11,032
Dollar General Corp.		130		10,994
Ulta Beauty, Inc.*		28		10,895
Las Vegas Sands Corp.		209		10,521
Southwest Airlines Co.		354		10,489
Live Nation Entertainment, Inc.*		93		10,182
Domino's Pizza, Inc.		21		9,033
Pool Corp.		23		8,666
Dollar Tree, Inc.*		119		8,368
CarMax, Inc.*		92		7,119
Tapestry, Inc.		136		6,389
LKQ Corp.		156		6,228
Hasbro, Inc.		77		5,569
Caesars Entertainment, Inc.*		128		5,343
Norwegian Cruise Line Holdings Ltd.*		260		5,333
MGM Resorts International*		136		5,316
Wynn Resorts Ltd.		55		5,273
BorgWarner, Inc.		135		4,899
Ralph Lauren Corp. — Class A		24		4,653
Walgreens Boots Alliance, Inc.		423		3,790
Total Consumer, Cyclical				2,402,423
Industrial - 5.7%
General Electric Co.		641		120,880
Caterpillar, Inc.		286		111,860
RTX Corp.		786		95,232
Union Pacific Corp.		360		88,733
Honeywell International, Inc.		385		79,583
Eaton Corporation plc		235		77,888
Lockheed Martin Corp.		125		73,070
Deere & Co.		151		63,017
United Parcel Service, Inc. — Class B		433		59,035
Boeing Co.*		346		52,606
Trane Technologies plc		133		51,701
Parker-Hannifin Corp.		76		48,018
TransDigm Group, Inc.		33		47,095
Amphenol Corp. — Class A		711		46,329
General Dynamics Corp.		152		45,934
Waste Management, Inc.		216		44,842
3M Co.		325		44,428
Northrop Grumman Corp.		81		42,774
Illinois Tool Works, Inc.		160		41,931
GE Vernova, Inc.*		162		41,307
Carrier Global Corp.		496		39,923
CSX Corp.		1,145		39,537
Emerson Electric Co.		338		36,967
FedEx Corp.		133		36,399
Norfolk Southern Corp.		134		33,299
Johnson Controls International plc		395		30,656
L3Harris Technologies, Inc.		112		26,641
Otis Worldwide Corp.		237		24,634
Republic Services, Inc. — Class A		121		24,302
Howmet Aerospace, Inc.		241		24,160
AMETEK, Inc.		137		23,524
Ingersoll Rand, Inc.		238		23,362
Old Dominion Freight Line, Inc.		111		22,049
Vulcan Materials Co.		78		19,534
Mettler-Toledo International, Inc.*		13		19,496
Martin Marietta Materials, Inc.		36		19,377
Xylem, Inc.		143		19,309
Westinghouse Air Brake Technologies Corp.		103		18,722
Rockwell Automation, Inc.		67		17,987
Axon Enterprise, Inc.*		42		16,783
Keysight Technologies, Inc.*		103		16,370
Fortive Corp.		207		16,338
Veralto Corp.		146		16,331
Garmin Ltd.		91		16,019
Dover Corp.		81		15,531
Smurfit WestRock plc		291		14,381
Hubbell, Inc.		32		13,707
Builders FirstSource, Inc.*		69		13,376
Teledyne Technologies, Inc.*		28		12,255
Ball Corp.		179		12,156
Packaging Corporation of America		53		11,416
Expeditors International of Washington, Inc.		83		10,906
Masco Corp.		129		10,828
Stanley Black & Decker, Inc.		91		10,022
Textron, Inc.		111		9,832
Jacobs Solutions, Inc.		74		9,687
Amcor plc		854		9,676
IDEX Corp.		45		9,653
Pentair plc		98		9,583
Snap-on, Inc.		31		8,981
Trimble, Inc.*		144		8,941
Nordson Corp.		32		8,404
J.B. Hunt Transport Services, Inc.		48		8,272
Jabil, Inc.		67		8,029
CH Robinson Worldwide, Inc.		69		7,616
Allegion plc		51		7,433
A O Smith Corp.		71		6,378
Huntington Ingalls Industries, Inc.		23		6,081
Generac Holdings, Inc.*		36		5,720
Mohawk Industries, Inc.*		31		4,981
Total Industrial				2,111,827
Energy - 2.6%
Exxon Mobil Corp.		2,625		307,703
Chevron Corp.		1,005		148,006
ConocoPhillips		686		72,222

S&P 500® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 77.9% (continued)
Energy - 2.6% (continued)
EOG Resources, Inc.		336	$	41,305
Schlumberger N.V.		839		35,196
Williams Companies, Inc.		720		32,868
Phillips 66		247		32,468
Marathon Petroleum Corp.		198		32,256
ONEOK, Inc.		345		31,440
Valero Energy Corp.		189		25,521
Kinder Morgan, Inc.		1,141		25,205
Hess Corp.		163		22,135
Baker Hughes Co.		587		21,220
Occidental Petroleum Corp.		398		20,513
Targa Resources Corp.		129		19,093
Diamondback Energy, Inc.		105		18,102
First Solar, Inc.*		63		15,715
Halliburton Co.		522		15,164
Devon Energy Corp.		370		14,474
Equities Corp.		351		12,861
Coterra Energy, Inc. — Class A		437		10,466
Enphase Energy, Inc.*		80		9,041
Marathon Oil Corp.		330		8,788
APA Corp.		219		5,357
Total Energy				977,119
Utilities - 2.0%
NextEra Energy, Inc.		1,214		102,619
Southern Co.		646		58,256
Duke Energy Corp.		456		52,577
Constellation Energy Corp.		185		48,104
American Electric Power Company, Inc.		314		32,216
Sempra		374		31,278
Dominion Energy, Inc.		496		28,664
Public Service Enterprise Group, Inc.		294		26,228
PG&E Corp.		1,263		24,969
Vistra Corp.		203		24,064
Exelon Corp.		591		23,965
Xcel Energy, Inc.		329		21,484
Consolidated Edison, Inc.		204		21,242
Edison International		228		19,856
WEC Energy Group, Inc.		187		17,986
American Water Works Company, Inc.		115		16,818
Entergy Corp.		126		16,583
DTE Energy Co.		122		15,666
PPL Corp.		436		14,423
Eversource Energy		211		14,359
Ameren Corp.		158		13,819
FirstEnergy Corp.		303		13,438
Atmos Energy Corp.		92		12,761
CMS Energy Corp.		176		12,431
CenterPoint Energy, Inc.		385		11,327
NRG Energy, Inc.		122		11,114
Alliant Energy Corp.		152		9,225
NiSource, Inc.		265		9,182
Evergy, Inc.		136		8,433
AES Corp.		420		8,425
Pinnacle West Capital Corp.		67		5,935
Total Utilities				727,447
Basic Materials - 1.4%
Linde plc		284		135,428
Sherwin-Williams Co.		137		52,289
Freeport-McMoRan, Inc.		849		42,382
Air Products and Chemicals, Inc.		131		39,004
Ecolab, Inc.		150		38,299
Newmont Corp.		678		36,239
Dow, Inc.		414		22,617
DuPont de Nemours, Inc.		247		22,010
Nucor Corp.		140		21,047
PPG Industries, Inc.		138		18,279
International Flavors & Fragrances, Inc.		151		15,844
LyondellBasell Industries N.V. — Class A		154		14,769
Steel Dynamics, Inc.		85		10,717
International Paper Co.		205		10,014
CF Industries Holdings, Inc.		107		9,181
Celanese Corp. — Class A		65		8,837
Eastman Chemical Co.		69		7,725
Albemarle Corp.		69		6,535
Mosaic Co.		188		5,035
FMC Corp.		74		4,880
Total Basic Materials				521,131
Total Common Stocks
(Cost $19,641,422)				28,766,008

	Face Amount
U.S. TREASURY BILLS†† - 3.6%
U.S. Treasury Bills
4.63% due 10/10/241,2	$	818,000		817,050
4.85% due 12/12/242,3		550,000		545,083
Total U.S. Treasury Bills
(Cost $1,361,614)				1,362,133
REPURCHASE AGREEMENTS††,4 - 18.5%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/243		3,734,811		3,734,811
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/243		3,084,780		3,084,780
Total Repurchase Agreements
(Cost $6,819,591)				6,819,591
Total Investments - 100.0%
(Cost $27,822,627)			$	36,947,732
Other Assets & Liabilities, net - 0.0%				(15,714	)
Total Net Assets - 100.0%			$	36,932,018

S&P 500® 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Equity Futures Contracts Purchased†
S&P 500 Index Mini Futures Contracts		46	Dec 2024	$	13,376,800	$	288,631

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units		Notional Amount		Value and Unrealized Appreciation
OTC Equity Index Swap Agreements††
Goldman Sachs International	S&P 500 Index	Pay	5.33% (Federal Funds Rate + 0.50%)	At Maturity	12/18/24		3,452	$	19,890,875	$	137,706
BNP Paribas	S&P 500 Index	Pay	5.68% (Federal Funds Rate + 0.85%)	At Maturity	12/19/24		965		5,562,724		38,825
Barclays Bank plc	S&P 500 Index	Pay	5.44% (SOFR + 0.60%)	At Maturity	12/19/24		1,083		6,241,434		32,006
								$	31,695,033	$	208,537

*	Non-income producing security.
**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is pledged as futures collateral at September 30, 2024.
2	Rate indicated is the effective yield at the time of purchase.
3	All or a portion of this security is pledged as equity index swap collateral at September 30, 2024.
4	Repurchase Agreements — See Note 4.
	plc — Public Limited Company
	REIT — Real Estate Investment Trust
	SOFR — Secured Overnight Financing Rate
	See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	28,766,008	$	—	$	—	$	28,766,008
U.S. Treasury Bills		—		1,362,133		—		1,362,133
Repurchase Agreements		—		6,819,591		—		6,819,591
Equity Futures Contracts**		288,631		—		—		288,631
Equity Index Swap Agreements**		—		208,537		—		208,537
Total Assets	$	29,054,639	$	8,390,261	$	—	$	37,444,900

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

S&P 500® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.5%
Technology - 34.2%
NVIDIA Corp.		10,845	$	1,317,017
Monolithic Power Systems, Inc.		875		808,938
KLA Corp.		806		624,174
Palantir Technologies, Inc. — Class A*		15,946		593,191
Advanced Micro Devices, Inc.*		3,307		542,613
ServiceNow, Inc.*		592		529,479
Crowdstrike Holdings, Inc. — Class A*		1,851		519,150
Broadcom, Inc.		2,737		472,132
Applied Materials, Inc.		2,219		448,349
Oracle Corp.		2,359		401,974
Fair Isaac Corp.*		191		371,212
Intuit, Inc.		594		368,874
Fortinet, Inc.*		4,708		365,105
Lam Research Corp.		406		331,328
Tyler Technologies, Inc.*		547		319,295
Microsoft Corp.		730		314,119
Cadence Design Systems, Inc.*		1,120		303,554
Salesforce, Inc.		1,023		280,005
Super Micro Computer, Inc.*		656		273,159
Adobe, Inc.*		497		257,337
Synopsys, Inc.*		488		247,118
Gartner, Inc.*		441		223,481
Apple, Inc.		953		222,049
Total Technology				10,133,653
Consumer, Cyclical - 23.7%
Royal Caribbean Cruises Ltd.		4,728		838,558
PulteGroup, Inc.		4,680		671,721
DR Horton, Inc.		3,107		592,722
Live Nation Entertainment, Inc.*		5,057		553,691
Hilton Worldwide Holdings, Inc.		2,237		515,628
Marriott International, Inc. — Class A		2,055		510,873
Deckers Outdoor Corp.*		3,175		506,254
Tesla, Inc.*		1,705		446,079
NVR, Inc.*		45		441,531
Chipotle Mexican Grill, Inc. — Class A*		7,230		416,593
Copart, Inc.*		7,451		390,432
Norwegian Cruise Line Holdings Ltd.*		16,988		348,424
Wynn Resorts Ltd.		3,054		292,818
Ross Stores, Inc.		1,846		277,841
Lululemon Athletica, Inc.*		788		213,824
Total Consumer, Cyclical				7,016,989
Communications - 17.2%
Arista Networks, Inc.*		2,320		890,462
Booking Holdings, Inc.		157		661,303
Meta Platforms, Inc. — Class A		1,137		650,864
Uber Technologies, Inc.*		8,627		648,405
Palo Alto Networks, Inc.*		1,440		492,192
Expedia Group, Inc.*		2,575		381,151
Amazon.com, Inc.*		1,928		359,244
Netflix, Inc.*		476		337,613
Alphabet, Inc. — Class A		1,527		253,253
Alphabet, Inc. — Class C		1,287		215,174
GoDaddy, Inc. — Class A*		1,343		210,556
Total Communications				5,100,217
Industrial - 6.6%
Builders FirstSource, Inc.*		3,054		592,048
Axon Enterprise, Inc.*		1,214		485,114
Fortive Corp.		4,228		333,716
TransDigm Group, Inc.		196		279,718
Old Dominion Freight Line, Inc.		1,317		261,609
Total Industrial				1,952,205
Energy - 5.5%
Targa Resources Corp.		4,598		680,550
Diamondback Energy, Inc.		2,298		396,175
Hess Corp.		2,011		273,094
APA Corp.		11,052		270,332
Total Energy				1,620,151
Consumer, Non-cyclical - 4.6%
United Rentals, Inc.		659		533,612
Eli Lilly & Co.		375		332,228
Corpay, Inc.*		975		304,941
West Pharmaceutical Services, Inc.		693		208,011
Total Consumer, Non-cyclical				1,378,792
Financial - 4.2%
KKR & Company, Inc. — Class A		5,556		725,503
Arch Capital Group Ltd.*		4,739		530,199
Total Financial				1,255,702
Utilities - 2.0%
Vistra Corp.		4,993		591,870
Basic Materials - 1.5%
Celanese Corp. — Class A		3,202		435,344
Total Common Stocks
(Cost $22,258,408)				29,484,923

		Face Amount
REPURCHASE AGREEMENTS††,1 - 0.8%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	126,865		126,865
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		104,785		104,785
Total Repurchase Agreements
(Cost $231,650)				231,650
Total Investments - 100.3%
(Cost $22,490,058)			$	29,716,573
Other Assets & Liabilities, net - (0.3)%				(97,007	)
Total Net Assets - 100.0%			$	29,619,566

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.

S&P 500® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

1	Repurchase Agreements — See Note 4.
	See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	29,484,923	$	—	$	—	$	29,484,923
Repurchase Agreements		—		231,650		—		231,650
Total Assets	$	29,484,923	$	231,650	$	—	$	29,716,573

S&P 500® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.4%
Financial - 32.7%
Berkshire Hathaway, Inc. — Class B*		1,626	$	748,383
Citigroup, Inc.		6,525		408,465
Citizens Financial Group, Inc.		9,330		383,183
Invesco Ltd.		21,070		369,989
Truist Financial Corp.		6,058		259,101
Capital One Financial Corp.		1,681		251,696
Synchrony Financial		4,693		234,087
M&T Bank Corp.		1,262		224,787
Prudential Financial, Inc.		1,700		205,870
Loews Corp.		2,534		200,313
Bank of New York Mellon Corp.		2,766		198,765
Bank of America Corp.		4,899		194,392
Wells Fargo & Co.		3,240		183,028
American International Group, Inc.		2,481		181,684
Regions Financial Corp.		7,397		172,572
State Street Corp.		1,945		172,074
Huntington Bancshares, Inc.		11,639		171,093
KeyCorp		10,021		167,852
Hartford Financial Services Group, Inc.		1,298		152,658
Goldman Sachs Group, Inc.		299		148,038
MetLife, Inc.		1,703		140,463
Fifth Third Bancorp		2,976		127,492
Assurant, Inc.		633		125,878
PNC Financial Services Group, Inc.		678		125,328
Franklin Resources, Inc.		5,723		115,319
Cincinnati Financial Corp.		842		114,613
Allstate Corp.		602		114,169
Everest Group Ltd.		277		108,537
U.S. Bancorp		2,266		103,624
Travelers Companies, Inc.		441		103,247
Principal Financial Group, Inc.		1,175		100,932
Alexandria Real Estate Equities, Inc. REIT		805		95,594
Total Financial				6,403,226
Consumer, Non-cyclical - 23.8%
Viatris, Inc.		37,281		432,832
Tyson Foods, Inc. — Class A		7,124		424,306
Kroger Co.		6,577		376,862
Centene Corp.*		4,532		341,169
CVS Health Corp.		5,395		339,238
Bunge Global S.A.		3,497		337,950
Cigna Group		799		276,806
Universal Health Services, Inc. — Class B		1,139		260,842
Cencora, Inc. — Class A		1,141		256,816
McKesson Corp.		505		249,682
Cardinal Health, Inc.		2,097		231,760
Archer-Daniels-Midland Co.		3,285		196,246
Kraft Heinz Co.		5,125		179,939
Molson Coors Beverage Co. — Class B		2,698		155,189
Conagra Brands, Inc.		3,593		116,844
Elevance Health, Inc.		206		107,120
Corteva, Inc.		1,810		106,410
Sysco Corp.		1,304		101,790
Henry Schein, Inc.*		1,325		96,593
Humana, Inc.		191		60,497
Total Consumer, Non-cyclical				4,648,891
Consumer, Cyclical - 16.0%
General Motors Co.		17,414		780,844
United Airlines Holdings, Inc.*		9,014		514,339
Ford Motor Co.		41,805		441,461
CarMax, Inc.*		3,960		306,425
Best Buy Company, Inc.		2,634		272,092
BorgWarner, Inc.		7,187		260,816
Southwest Airlines Co.		6,757		200,210
Walgreens Boots Alliance, Inc.		18,665		167,238
Target Corp.		704		109,726
LKQ Corp.		1,959		78,203
Total Consumer, Cyclical				3,131,354
Industrial - 6.1%
Mohawk Industries, Inc.*		3,389		544,545
Smurfit WestRock plc		5,971		295,087
Stanley Black & Decker, Inc.		1,234		135,900
CH Robinson Worldwide, Inc.		1,014		111,915
FedEx Corp.		362		99,072
Total Industrial				1,186,519
Communications - 6.0%
Paramount Global — Class B1		33,249		353,104
Warner Bros Discovery, Inc.*		30,151		248,746
AT&T, Inc.		8,160		179,520
Verizon Communications, Inc.		2,748		123,413
Fox Corp. — Class A		2,658		112,513
News Corp. — Class A		2,940		78,292
Fox Corp. — Class B		1,422		55,174
News Corp. — Class B		882		24,652
Total Communications				1,175,414
Basic Materials - 5.0%
International Paper Co.		5,307		259,247
Mosaic Co.		6,011		160,974
International Flavors & Fragrances, Inc.		1,473		154,562
Eastman Chemical Co.		1,036		115,980
Dow, Inc.		2,076		113,412
LyondellBasell Industries N.V. — Class A		1,010		96,859
Albemarle Corp.		759		71,885
Total Basic Materials				972,919
Energy - 4.8%
Valero Energy Corp.		2,565		346,352
Phillips 66		2,191		288,007
Kinder Morgan, Inc.		4,868		107,534
Equities Corp.		2,851		104,460
Chevron Corp.		577		84,975
Total Energy				931,328
Utilities - 3.1%
NRG Energy, Inc.		3,109		283,230
Evergy, Inc.		1,894		117,447
Pinnacle West Capital Corp.		1,248		110,560
Eversource Energy		1,553		105,682
Total Utilities				616,919
Technology - 1.9%
Hewlett Packard Enterprise Co.		13,668		279,648

S&P 500® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.4% (continued)
Technology - 1.9% (continued)
HP, Inc.		2,829	$	101,476
Total Technology				381,124
Total Common Stocks
(Cost $14,149,472)				19,447,694
	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.7%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	72,411		72,411
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		59,809		59,809
Total Repurchase Agreements
(Cost $132,220)				132,220
	Shares
SECURITIES LENDING COLLATERAL†,3 - 1.4%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4		272,396		272,396
Total Securities Lending Collateral
(Cost $272,396)				272,396
Total Investments - 101.5%
(Cost $14,554,088)			$	19,852,310
Other Assets & Liabilities, net - (1.5)%				(290,540	)
Total Net Assets - 100.0%			$	19,561,770

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	19,447,694	$	—	$	—	$	19,447,694
Repurchase Agreements		—		132,220		—		132,220
Securities Lending Collateral		272,396		—		—		272,396
Total Assets	$	19,720,090	$	132,220	$	—	$	19,852,310

S&P MidCap 400® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.5%
Industrial - 28.2%
Comfort Systems USA, Inc.		711	$	277,539
AAON, Inc.		2,215		238,866
TopBuild Corp.*		545		221,711
EMCOR Group, Inc.		479		206,224
Clean Harbors, Inc.*		726		175,482
Owens Corning		978		172,636
Eagle Materials, Inc.		592		170,289
Simpson Manufacturing Company, Inc.		794		151,868
Fabrinet*		601		142,100
Lennox International, Inc.		221		133,548
UFP Industries, Inc.		961		126,093
nVent Electric plc		1,788		125,625
Universal Display Corp.		549		115,235
Saia, Inc.*		256		111,939
Esab Corp.		1,009		107,267
Applied Industrial Technologies, Inc.		476		106,210
Crane Co.		582		92,119
RBC Bearings, Inc.*		300		89,814
Chart Industries, Inc.*		711		88,263
Advanced Drainage Systems, Inc.		545		85,652
Lincoln Electric Holdings, Inc.		422		81,032
Trex Company, Inc.*		1,158		77,100
Vontier Corp.		2,006		67,682
NEXTracker, Inc. — Class A*		1,476		55,321
Total Industrial				3,219,615
Consumer, Cyclical - 21.5%
Toll Brothers, Inc.		1,625		251,046
Wingstop, Inc.		546		227,180
Murphy USA, Inc.		400		197,148
Hyatt Hotels Corp. — Class A		1,214		184,771
Abercrombie & Fitch Co. — Class A*		1,010		141,299
Churchill Downs, Inc.		1,001		135,345
Texas Roadhouse, Inc. — Class A		763		134,746
Williams-Sonoma, Inc.		848		131,372
Crocs, Inc.*		898		130,039
Floor & Decor Holdings, Inc. — Class A*		1,037		128,764
Casey’s General Stores, Inc.		320		120,227
Skechers USA, Inc. — Class A*		1,730		115,772
Tempur Sealy International, Inc.		2,091		114,169
Watsco, Inc.		197		96,900
Planet Fitness, Inc. — Class A*		1,127		91,535
Light & Wonder, Inc. — Class A*		831		75,397
FirstCash Holdings, Inc.		640		73,472
Boyd Gaming Corp.		928		59,995
Five Below, Inc.*		450		39,758
Total Consumer, Cyclical				2,448,935
Consumer, Non-cyclical - 15.8%
Lantheus Holdings, Inc.*		1,964		215,549
Medpace Holdings, Inc.*		524		174,911
elf Beauty, Inc.*		1,314		143,266
Valvoline, Inc.*		3,165		132,455
Coca-Cola Consolidated, Inc.		100		131,640
Celsius Holdings, Inc.*		3,530		110,701
Exelixis, Inc.*		4,154		107,796
RB Global, Inc.		1,269		102,142
Grand Canyon Education, Inc.*		703		99,720
Brink's Co.		759		87,771
Halozyme Therapeutics, Inc.*		1,379		78,934
Ensign Group, Inc.		496		71,335
Acadia Healthcare Company, Inc.*		1,064		67,468
Arrowhead Pharmaceuticals, Inc.*		3,213		62,236
Penumbra, Inc.*		320		62,179
FTI Consulting, Inc.*		260		59,166
Coty, Inc. — Class A*		5,495		51,598
Avis Budget Group, Inc.		512		44,846
Total Consumer, Non-cyclical				1,803,713
Technology - 12.4%
Duolingo, Inc.*		1,194		336,732
Appfolio, Inc. — Class A*		836		196,794
Onto Innovation, Inc.*		796		165,217
Dynatrace, Inc.*		2,845		152,122
Manhattan Associates, Inc.*		444		124,933
Rambus, Inc.*		2,495		105,339
Pure Storage, Inc. — Class A*		1,890		94,954
Altair Engineering, Inc. — Class A*		988		94,364
Qualys, Inc.*		596		76,562
Dropbox, Inc. — Class A*		2,521		64,109
Total Technology				1,411,126
Energy - 11.9%
CNX Resources Corp.*		11,021		358,954
Permian Resources Corp.		13,023		177,243
Weatherford International plc		1,968		167,123
Range Resources Corp.		4,314		132,699
Valaris Ltd.*		2,187		121,925
Ovintiv, Inc.		2,984		114,317
Chord Energy Corp.		847		110,305
Civitas Resources, Inc.		1,742		88,267
Matador Resources Co.		1,667		82,383
Total Energy				1,353,216
Financial - 6.6%
Ryan Specialty Holdings, Inc.		3,698		245,510
Kinsale Capital Group, Inc.		396		184,366
Park Hotels & Resorts, Inc. REIT		9,721		137,066
Primerica, Inc.		410		108,711
Hamilton Lane, Inc. — Class A		474		79,817
Total Financial				755,470
Basic Materials - 3.1%
Reliance, Inc.		464		134,193
Westlake Corp.		753		113,168
NewMarket Corp.		196		108,171
Total Basic Materials				355,532
Total Common Stocks
(Cost $8,985,391)				11,347,607

S&P MidCap 400® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

		Face Amount		Value
REPURCHASE AGREEMENTS††,1 - 0.8%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	51,341	$	51,341
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		42,405		42,405
Total Repurchase Agreements
(Cost $93,746)			$	93,746
Total Investments - 100.3%
(Cost $9,079,137)			$	11,441,353
Other Assets & Liabilities, net - (0.3)%				(33,262	)
Total Net Assets - 100.0%			$	11,408,091

*	Non-income producing security.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Repurchase Agreements — See Note 4.

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	11,347,607	$	—	$	—	$	11,347,607
Repurchase Agreements		—		93,746		—		93,746
Total Assets	$	11,347,607	$	93,746	$	—	$	11,441,353

S&P MidCap 400® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.7%
Consumer, Cyclical - 25.5%
Lithia Motors, Inc. — Class A		538	$	170,890
Macy's, Inc.		10,028		157,339
Nordstrom, Inc.		6,476		145,645
AutoNation, Inc.*		807		144,389
Taylor Morrison Home Corp. — Class A*		1,860		130,684
American Airlines Group, Inc.*		10,091		113,423
Aramark		2,878		111,465
WESCO International, Inc.		633		106,331
Goodyear Tire & Rubber Co.*		11,498		101,757
Penske Automotive Group, Inc.		534		86,732
Whirlpool Corp.		759		81,213
Thor Industries, Inc.		698		76,703
Lear Corp.		700		76,405
PVH Corp.		746		75,219
Harley-Davidson, Inc.		1,798		69,277
Gap, Inc.		2,274		50,142
Marriott Vacations Worldwide Corp.		645		47,395
BJ's Wholesale Club Holdings, Inc.*		547		45,117
Under Armour, Inc. — Class A*		3,356		29,902
Under Armour, Inc. — Class C*		3,471		29,018
Total Consumer, Cyclical				1,849,046
Financial - 23.7%
Jones Lang LaSalle, Inc.*		650		175,376
Unum Group		2,104		125,062
Jefferies Financial Group, Inc.		1,740		107,097
Ally Financial, Inc.		2,577		91,715
Reinsurance Group of America, Inc. — Class A		415		90,416
Cousins Properties, Inc. REIT		2,990		88,145
Kemper Corp.		1,418		86,853
Associated Banc-Corp.		3,970		85,514
Kilroy Realty Corp. REIT		1,895		73,337
FNB Corp.		5,045		71,185
Zions Bancorp North America		1,492		70,452
Valley National Bancorp		7,247		65,658
First Horizon Corp.		3,822		59,356
Janus Henderson Group plc		1,508		57,410
Old National Bancorp		3,052		56,950
Independence Realty Trust, Inc. REIT		2,729		55,945
Texas Capital Bancshares, Inc.*		770		55,024
Prosperity Bancshares, Inc.		752		54,196
CNO Financial Group, Inc.		1,415		49,666
Healthcare Realty Trust, Inc. REIT		2,683		48,696
Old Republic International Corp.		1,253		44,381
First American Financial Corp.		600		39,606
Webster Financial Corp.		847		39,479
New York Community Bancorp, Inc.		2,911		32,691
Total Financial				1,724,210
Industrial - 19.1%
Avnet, Inc.		3,676		199,644
TD SYNNEX Corp.		1,553		186,484
MasTec, Inc.*		1,419		174,679
Arrow Electronics, Inc.*		1,244		165,240
Ryder System, Inc.		787		114,745
MDU Resources Group, Inc.		3,780		103,610
Fluor Corp.*		1,685		80,391
Coherent Corp.*		852		75,751
CNH Industrial N.V.		5,514		61,205
Greif, Inc. — Class A		755		47,308
Oshkosh Corp.		389		38,982
Berry Global Group, Inc.		548		37,253
AGCO Corp.		368		36,013
Knight-Swift Transportation Holdings, Inc.		639		34,474
Vishay Intertechnology, Inc.		1,656		31,315
Total Industrial				1,387,094
Consumer, Non-cyclical - 14.9%
Tenet Healthcare Corp.*		1,037		172,349
US Foods Holding Corp.*		2,360		145,140
Pilgrim's Pride Corp.*		2,925		134,696
Performance Food Group Co.*		1,633		127,978
Graham Holdings Co. — Class B		152		124,902
ManpowerGroup, Inc.		1,689		124,175
Post Holdings, Inc.*		569		65,862
Perrigo Company plc		2,335		61,247
Enovis Corp.*		1,026		44,170
Bio-Rad Laboratories, Inc. — Class A*		127		42,492
Envista Holdings Corp.*		1,995		39,421
Total Consumer, Non-cyclical				1,082,432
Basic Materials - 5.9%
United States Steel Corp.		4,081		144,182
Alcoa Corp.		3,250		125,385
Commercial Metals Co.		1,454		79,912
Cleveland-Cliffs, Inc.*		6,037		77,092
Total Basic Materials				426,571
Energy - 5.3%
PBF Energy, Inc. — Class A		4,331		134,044
HF Sinclair Corp.		2,727		121,542
Chesapeake Energy Corp.1		614		50,502
Antero Resources Corp.*		1,750		50,138
NOV, Inc.		1,958		31,269
Total Energy				387,495
Utilities - 2.5%
UGI Corp.		2,292		57,346
Southwest Gas Holdings, Inc.		630		46,469
Black Hills Corp.		708		43,273
Spire, Inc.		536		36,067
Total Utilities				183,155
Technology - 1.5%
Kyndryl Holdings, Inc.*		3,780		86,864
Concentrix Corp.		431		22,089
Total Technology				108,953
Communications - 1.3%
Frontier Communications Parent, Inc.*		2,657		94,403
Total Common Stocks
(Cost $5,237,513)				7,243,359

S&P MidCap 400® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Face Amount		Value
REPURCHASE AGREEMENTS††,2 - 0.8%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	32,584	$	32,584
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		26,913		26,913
Total Repurchase Agreements
(Cost $59,497)				59,497

	Shares
SECURITIES LENDING COLLATERAL†,3 - 0.5%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4		38,870		38,870
Total Securities Lending Collateral
(Cost $38,870)				38,870
Total Investments - 101.0%
(Cost $5,335,880)			$	7,341,726
Other Assets & Liabilities, net - (1.0)%				(72,701	)
Total Net Assets - 100.0%			$	7,269,025

* Non-income producing security.

^*** A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.

^† Value determined based on Level 1 inputs — See Note 3.

^†† Value determined based on Level 2 inputs — See Note 3.

¹ All or a portion of this security is on loan at September 30, 2024 — See Note 5.

² Repurchase Agreements — See Note 4.

³ Securities lending collateral — See Note 5.

4	Rate indicated is the 7-day yield as of September 30, 2024.
	plc — Public Limited Company
	REIT — Real Estate Investment Trust
	See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	7,243,359	$	—	$	—	$	7,243,359
Repurchase Agreements		—		59,497		—		59,497
Securities Lending Collateral		38,870		—		—		38,870
Total Assets	$	7,282,229	$	59,497	$	—	$	7,341,726

S&P SmallCap 600® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.4%
Consumer, Non-cyclical - 21.6%
PROG Holdings, Inc.		3,049	$	147,846
UFP Technologies, Inc.*		433		137,131
TG Therapeutics, Inc.*		4,621		108,085
ADMA Biologics, Inc.*		4,983		99,610
Verra Mobility Corp.*		3,137		87,240
TransMedics Group, Inc.*		550		86,350
Inter Parfums, Inc.		621		80,407
Cal-Maine Foods, Inc.		1,010		75,589
Stride, Inc.*		835		71,234
Adtalem Global Education, Inc.*		870		65,668
Viad Corp.*		1,771		63,455
Collegium Pharmaceutical, Inc.*		1,553		60,008
CorVel Corp.*		182		59,494
RadNet, Inc.*		847		58,773
Vericel Corp.*		1,359		57,418
Catalyst Pharmaceuticals, Inc.*		2,842		56,499
Amphastar Pharmaceuticals, Inc.*		1,058		51,345
ANI Pharmaceuticals, Inc.*		829		49,458
Glaukos Corp.*		375		48,855
Dynavax Technologies Corp.*		4,023		44,816
Astrana Health, Inc.*		752		43,571
Integer Holdings Corp.*		277		36,010
Arlo Technologies, Inc.*		2,949		35,712
LiveRamp Holdings, Inc.*		1,426		35,336
Progyny, Inc.*		1,802		30,202
WD-40 Co.		106		27,335
NeoGenomics, Inc.*		1,428		21,063
CONMED Corp.		197		14,168
Ligand Pharmaceuticals, Inc.*,†††		169		–
Ligand Pharmaceuticals, Inc.*,†††		169		–
Total Consumer, Non-cyclical				1,752,678
Consumer, Cyclical - 20.0%
Cinemark Holdings, Inc.*		4,928		137,195
Green Brick Partners, Inc.*		1,624		135,636
Boot Barn Holdings, Inc.*		765		127,969
Group 1 Automotive, Inc.		293		112,231
Patrick Industries, Inc.		699		99,516
Installed Building Products, Inc.		402		99,001
Cavco Industries, Inc.*		217		92,928
M/I Homes, Inc.*		480		82,253
Shake Shack, Inc. — Class A*		751		77,511
Meritage Homes Corp.		367		75,261
GMS, Inc.*		800		72,456
Six Flags Entertainment Corp.		1,476		59,498
Signet Jewelers Ltd.		548		56,521
Urban Outfitters, Inc.*		1,446		55,396
Guess?, Inc.		2,145		43,179
Monarch Casino & Resort, Inc.		536		42,489
Dave & Buster's Entertainment, Inc.*		1,211		41,234
Steven Madden Ltd.		785		38,457
American Eagle Outfitters, Inc.		1,671		37,414
Oxford Industries, Inc.		405		35,138
Kontoor Brands, Inc.		411		33,612
Madison Square Garden Sports Corp. — Class A*		147		30,614
XPEL, Inc.*		590		25,588
Jack in the Box, Inc.		270		12,566
Total Consumer, Cyclical				1,623,663
Financial - 18.6%
Two Harbors Investment Corp. REIT		8,675		120,409
SiriusPoint Ltd.*		7,866		112,798
St. Joe Co.		1,505		87,756
Goosehead Insurance, Inc. — Class A*		912		81,442
Bancorp, Inc.*		1,496		80,036
Redwood Trust, Inc. REIT		10,236		79,124
First BanCorp		3,388		71,724
HCI Group, Inc.		662		70,874
Pathward Financial, Inc.		989		65,284
Palomar Holdings, Inc.*		684		64,754
Ambac Financial Group, Inc.*		5,585		62,608
OFG Bancorp		1,321		59,339
MARA Holdings, Inc.*		3,653		59,252
Customers Bancorp, Inc.*		1,257		58,387
Sunstone Hotel Investors, Inc. REIT		5,397		55,697
eXp World Holdings, Inc.1		3,856		54,331
Ellington Financial, Inc. REIT		3,933		50,697
DiamondRock Hospitality Co. REIT		5,727		49,997
WisdomTree, Inc.		4,894		48,891
Preferred Bank/Los Angeles CA		559		44,860
World Acceptance Corp.*		302		35,630
Triumph Financial, Inc.*		433		34,441
New York Mortgage Trust, Inc. REIT		4,861		30,770
Apple Hospitality REIT, Inc.		1,845		27,398
Total Financial				1,506,499
Industrial - 15.1%
CSW Industrials, Inc.		292		106,986
Powell Industries, Inc.		400		88,796
Matson, Inc.		614		87,569
Dorian LPG Ltd.		1,995		68,668
Mueller Industries, Inc.		917		67,950
AZZ, Inc.		810		66,914
ArcBest Corp.		588		63,768
AeroVironment, Inc.*		289		57,944
Badger Meter, Inc.		258		56,350
Federal Signal Corp.		579		54,113
Boise Cascade Co.		366		51,599
Gibraltar Industries, Inc.*		693		48,461
Frontdoor, Inc.*		992		47,606
Materion Corp.		425		47,541
Moog, Inc. — Class A		228		46,061
SPX Technologies, Inc.*		269		42,895
Franklin Electric Company, Inc.		330		34,591
Standex International Corp.		189		34,545
MYR Group, Inc.*		310		31,691
Armstrong World Industries, Inc.		240		31,543
OSI Systems, Inc.*		202		30,669
Tennant Co.		301		28,908
Alamo Group, Inc.		143		25,759
Total Industrial				1,220,927
Energy - 11.2%
Warrior Met Coal, Inc.		1,504		96,106
CONSOL Energy, Inc.		840		87,906
Northern Oil & Gas, Inc.		2,446		86,613
Alpha Metallurgical Resources, Inc.*		320		75,577

S&P SmallCap 600® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.4% (continued)
Energy - 11.2% (continued)
Liberty Energy, Inc. — Class A		3,839	$	73,287
REX American Resources Corp.*		1,403		64,945
Helix Energy Solutions Group, Inc.*		5,514		61,205
California Resources Corp.		1,066		55,933
Tidewater, Inc.*		742		53,268
Oceaneering International, Inc.*		2,091		52,003
Magnolia Oil & Gas Corp. — Class A		1,863		45,495
Par Pacific Holdings, Inc.*		2,347		41,307
SM Energy Co.		994		39,730
RPC, Inc.		6,047		38,459
Archrock, Inc.		1,550		31,372
Total Energy				903,206
Communications - 4.7%
Cargurus, Inc.*		2,888		86,727
InterDigital, Inc.		572		81,012
Cars.com, Inc.*		3,195		53,548
Liquidity Services, Inc.*		1,981		45,167
Cogent Communications Holdings, Inc.		507		38,491
Yelp, Inc. — Class A*		1,090		38,237
TripAdvisor, Inc.*		2,442		35,385
Total Communications				378,567
Technology - 4.1%
Axcelis Technologies, Inc.*		683		71,613
Veeco Instruments, Inc.*		1,586		52,544
SPS Commerce, Inc.*		252		48,931
Agilysys, Inc.*		370		40,319
DoubleVerify Holdings, Inc.*		1,668		28,089
Progress Software Corp.		395		26,611
Donnelley Financial Solutions, Inc.*		398		26,200
PDF Solutions, Inc.*		717		22,715
Privia Health Group, Inc.*		982		17,882
Total Technology				334,904
Basic Materials - 3.5%
Hawkins, Inc.		998		127,215
Carpenter Technology Corp.		601		95,908
ATI, Inc.*		921		61,624
Total Basic Materials				284,747
Utilities - 0.6%
Otter Tail Corp.		607		47,443
Total Common Stocks
(Cost $6,143,235)				8,052,634

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.9%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	39,741	39,741
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		32,825	32,825
Total Repurchase Agreements
(Cost $72,566)			72,566

	Shares
SECURITIES LENDING COLLATERAL†,3 - 0.5%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4		40,858		40,858
Total Securities Lending Collateral
(Cost $40,858)				40,858
Total Investments - 100.8%
(Cost $6,256,659)			$	8,166,058
Other Assets & Liabilities, net - (0.8)%				(68,389	)
Total Net Assets - 100.0%			$	8,097,669

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs, unless otherwise noted — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
†††	Value determined based on Level 3 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.
	REIT — Real Estate Investment Trust
	See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

S&P SmallCap 600® Pure Growth Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs			Total
Common Stocks	$	8,052,634	$	—	$	—	*	$	8,052,634
Repurchase Agreements		—		72,566		—			72,566
Securities Lending Collateral		40,858		—		—			40,858
Total Assets	$	8,093,492	$	72,566	$	—		$	8,166,058

^* Security has a market value of $0.

S&P SmallCap 600® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.4%
Consumer, Cyclical - 25.6%
Phinia, Inc.		3,857	$	177,537
JetBlue Airways Corp.*		24,942		163,619
ScanSource, Inc.*		2,695		129,441
MarineMax, Inc.*		3,403		120,024
Adient plc*		4,877		110,074
Foot Locker, Inc.*		4,215		108,916
Kohl's Corp.		4,463		94,169
Sally Beauty Holdings, Inc.*		6,313		85,667
Resideo Technologies, Inc.*		3,777		76,068
Topgolf Callaway Brands Corp.*		6,653		73,050
Sonic Automotive, Inc. — Class A		1,115		65,205
Shoe Carnival, Inc.		1,434		62,881
Wolverine World Wide, Inc.		3,494		60,865
Caleres, Inc.		1,778		58,763
Advance Auto Parts, Inc.		1,503		58,602
Penn Entertainment, Inc.*		3,086		58,202
American Axle & Manufacturing Holdings, Inc.*		9,371		57,913
Dana, Inc.		5,414		57,172
Alaska Air Group, Inc.*		1,246		56,332
G-III Apparel Group Ltd.*		1,796		54,814
Interface, Inc. — Class A		2,690		51,029
Newell Brands, Inc.		6,235		47,885
Hanesbrands, Inc.*		6,431		47,268
ODP Corp.*		1,555		46,261
Victoria's Secret & Co.*		1,708		43,896
Allegiant Travel Co. — Class A*		795		43,773
Vista Outdoor, Inc.*		1,004		39,337
VF Corp.		1,940		38,703
PriceSmart, Inc.		346		31,756
MillerKnoll, Inc.		1,217		30,133
Wabash National Corp.		1,530		29,361
Standard Motor Products, Inc.		879		29,183
Leggett & Platt, Inc.		2,105		28,670
Titan International, Inc.*		2,260		18,374
Total Consumer, Cyclical				2,254,943
Financial - 24.3%
Bread Financial Holdings, Inc.		3,076		146,356
Jackson Financial, Inc. — Class A		1,472		134,291
Genworth Financial, Inc. — Class A*		17,482		119,752
EZCORP, Inc. — Class A*		10,607		118,905
Cushman & Wakefield plc*		8,471		115,460
StoneX Group, Inc.*		1,199		98,174
Medical Properties Trust, Inc. REIT1		14,951		87,463
ProAssurance Corp.*		4,598		69,154
Stewart Information Services Corp.		873		65,248
United Fire Group, Inc.		2,864		59,943
PRA Group, Inc.*		2,540		56,794
Hope Bancorp, Inc.		4,403		55,302
Brandywine Realty Trust REIT		10,151		55,221
Pebblebrook Hotel Trust REIT		3,883		51,372
Simmons First National Corp. — Class A		2,332		50,231
SL Green Realty Corp. REIT		718		49,980
Mercury General Corp.		736		46,353
JBG SMITH Properties REIT		2,649		46,305
Safehold, Inc. REIT		1,626		42,650
Lincoln National Corp.		1,315		41,436
Comerica, Inc.		674		40,379
Eagle Bancorp, Inc.		1,767		39,899
Independent Bank Group, Inc.		661		38,113
Veritex Holdings, Inc.		1,443		37,980
Dime Community Bancshares, Inc.		1,314		37,843
Hudson Pacific Properties, Inc. REIT*		7,902		37,772
Banc of California, Inc.		2,532		37,296
Virtu Financial, Inc. — Class A		1,196		36,430
Navient Corp.		2,251		35,093
Provident Financial Services, Inc.		1,808		33,557
Encore Capital Group, Inc.*		706		33,373
Renasant Corp.		984		31,980
BankUnited, Inc.		815		29,699
Hanmi Financial Corp.		1,533		28,514
Heritage Financial Corp.		1,303		28,366
Brookline Bancorp, Inc.		2,635		26,587
Pacific Premier Bancorp, Inc.		964		24,254
Ready Capital Corp. REIT		3,008		22,951
Service Properties Trust REIT		4,683		21,354
Total Financial				2,131,830
Consumer, Non-cyclical - 20.3%
Fresh Del Monte Produce, Inc.		5,477		161,790
Green Dot Corp. — Class A*		13,679		160,181
United Natural Foods, Inc.*		8,280		139,270
Kelly Services, Inc. — Class A		5,942		127,218
Hertz Global Holdings, Inc.*		32,760		108,108
Pediatrix Medical Group, Inc.*		8,896		103,105
AdaptHealth Corp.*		8,307		93,288
SpartanNash Co.		3,895		87,287
Chefs' Warehouse, Inc.*		1,847		77,592
GEO Group, Inc.*		5,433		69,814
ABM Industries, Inc.		1,272		67,111
B&G Foods, Inc.		7,506		66,653
Phibro Animal Health Corp. — Class A		2,566		57,786
Deluxe Corp.		2,660		51,843
Heidrick & Struggles International, Inc.		1,232		47,876
QuidelOrtho Corp.*		1,040		47,424
Universal Corp.		842		44,719
Owens & Minor, Inc.*		2,737		42,943
Cross Country Healthcare, Inc.*		2,823		37,941
Select Medical Holdings Corp.		1,012		35,288
Healthcare Services Group, Inc.*		2,962		33,086
Avanos Medical, Inc.*		1,228		29,509
Patterson Companies, Inc.		1,195		26,099
Hain Celestial Group, Inc.*		2,778		23,974
TreeHouse Foods, Inc.*		559		23,467
Fulgent Genetics, Inc.*		1,027		22,317
Total Consumer, Non-cyclical				1,785,689
Industrial - 12.6%
World Kinect Corp.		5,828		180,143
Benchmark Electronics, Inc.		3,455		153,126
Enviri Corp.*		13,304		137,564
Greenbrier Companies, Inc.		2,128		108,294

S&P SmallCap 600® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.4% (continued)
Industrial - 12.6% (continued)
DXP Enterprises, Inc.*		1,964	$	104,799
Sanmina Corp.*		1,301		89,053
Clearwater Paper Corp.*		2,563		73,148
O-I Glass, Inc.*		4,466		58,594
Schneider National, Inc. — Class B		1,471		41,982
TTM Technologies, Inc.*		2,147		39,183
Astec Industries, Inc.		1,031		32,930
Hub Group, Inc. — Class A		679		30,861
Masterbrand, Inc.*		1,613		29,905
Werner Enterprises, Inc.		761		29,367
Total Industrial				1,108,949
Communications - 5.1%
EchoStar Corp. — Class A*		7,943		197,145
Lumen Technologies, Inc.*		22,066		156,669
TEGNA, Inc.		2,936		46,330
Viasat, Inc.*		2,292		27,367
Consolidated Communications Holdings, Inc.*		5,146		23,877
Total Communications				451,388
Technology - 4.8%
NCR Atleos Corp.*		4,457		127,158
Xerox Holdings Corp.		8,105		84,130
NCR Voyix Corp.*		5,239		71,093
Alpha & Omega Semiconductor Ltd.*		1,906		70,750
DXC Technology Co.*		1,802		37,392
NetScout Systems, Inc.*		1,532		33,321
Total Technology				423,844
Energy - 3.7%
Sunrun, Inc.*		4,614		83,329
Bristow Group, Inc.*		1,463		50,751
SunCoke Energy, Inc.		5,840		50,691
DNOW, Inc.*		3,888		50,272
Nabors Industries Ltd.*		556		35,846
ProPetro Holding Corp.*		4,427		33,911
Talos Energy, Inc.*		2,078		21,507
Total Energy				326,307
Basic Materials - 3.0%
Kaiser Aluminum Corp.		973		70,562
Mativ Holdings, Inc.		3,926		66,702
Century Aluminum Co.*		3,921		63,638
AdvanSix, Inc.		2,013		61,155
Total Basic Materials				262,057
Total Common Stocks
(Cost $6,747,844)				8,745,007
	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.8%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	37,268		37,268
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		30,782		30,782
Total Repurchase Agreements
(Cost $68,050)				68,050
	Shares
SECURITIES LENDING COLLATERAL†,3 - 0.8%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4		72,131		72,131
Total Securities Lending Collateral
(Cost $72,131)				72,131
Total Investments - 101.0%
(Cost $6,888,025)			$	8,885,188
Other Assets & Liabilities, net - (1.0)%				(89,042	)
Total Net Assets - 100.0%			$	8,796,146

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

plc — Public Limited Company

REIT — Real Estate Investment Trust

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments): 

S&P SmallCap 600® Pure Value Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	8,745,007	$	—	$	—	$	8,745,007
Repurchase Agreements		—		68,050		—		68,050
Securities Lending Collateral		72,131		—		—		72,131
Total Assets	$	8,817,138	$	68,050	$	—	$	8,885,188

Strengthening Dollar 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Face Amount		Value
FEDERAL AGENCY NOTES††- 24.6%
Federal Farm Credit Bank
0.40% due 10/15/24	$	130,000	$	129,776
Freddie Mac
5.15% due 01/17/25		100,000		100,020
Fannie Mae
1.63% due 10/15/24		100,000		99,869
Total Federal Agency Notes
(Cost $329,662)				329,665
FEDERAL AGENCY DISCOUNT NOTES††- 18.6%
Federal Home Loan Bank
4.60% due 10/02/241		150,000		149,981
4.60% due 10/01/241		100,000		100,000
Total Federal Agency Discount Notes
(Cost $249,981)				249,981
U.S. TREASURY BILLS††- 2.2%
U.S. Treasury Bills
4.63% due 10/10/241,2		30,000		29,965
Total U.S. Treasury Bills
(Cost $29,962)				29,965
REPURCHASE AGREEMENTS††,3- 47.4%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/244		347,909		347,909
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/244		287,356		287,356
Total Repurchase Agreements
(Cost $635,265)				635,265
Total Investments - 92.8%
(Cost $1,244,870)			$	1,244,876
Other Assets & Liabilities, net - 7.2%				96,546
Total Net Assets - 100.0%			$	1,341,422

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Currency Futures Contracts Purchased†
U.S. Dollar Index Futures Contracts		22	Dec 2024	$	2,211,330	$	3,174

Total Return Swap Agreements
Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Appreciation
OTC Currency Index Swap Agreements††
Goldman Sachs International	U.S. Dollar Index	Receive	N/A	At Maturity	12/20/24	4,589	$	461,263	$	415

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Rate indicated is the effective yield at the time of purchase.
2	All or a portion of this security is pledged as futures collateral at September 30, 2024.
3	Repurchase Agreements — See Note 4.
4	All or a portion of this security is pledged as currency index swap collateral at September 30, 2024.

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):
Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Federal Agency Notes	$	—	$	329,665	$	—	$	329,665
Federal Agency Discount Notes		—		249,981		—		249,981
U.S. Treasury Bills		—		29,965		—		29,965
Repurchase Agreements		—		635,265		—		635,265
Currency Futures Contracts**		3,174		—		—		3,174
Currency Index Swap Agreements**		—		415		—		415
Total Assets	$	3,174	$	1,245,291	$	—	$	1,248,465

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

Technology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.5%
Software - 30.2%
Microsoft Corp.		2,617	$	1,126,095
Oracle Corp.		1,957		333,473
Salesforce, Inc.		1,184		324,073
Adobe, Inc.*		546		282,708
ServiceNow, Inc.*		299		267,423
Intuit, Inc.		405		251,505
Palantir Technologies, Inc. — Class A*		4,844		180,197
Synopsys, Inc.*		343		173,692
Cadence Design Systems, Inc.*		619		167,768
Autodesk, Inc.*		567		156,197
Workday, Inc. — Class A*		636		155,445
Roper Technologies, Inc.		274		152,465
NetEase, Inc. ADR		1,479		138,301
MicroStrategy, Inc. — Class A*		756		127,462
Atlassian Corp. — Class A*		792		125,777
AppLovin Corp. — Class A*		961		125,458
Datadog, Inc. — Class A*		1,054		121,273
Electronic Arts, Inc.		837		120,059
Snowflake, Inc. — Class A*		1,007		115,664
ANSYS, Inc.*		327		104,192
Monday.com Ltd.*		367		101,942
Cloudflare, Inc. — Class A*		1,245		100,708
Take-Two Interactive Software, Inc.*		651		100,065
ROBLOX Corp. — Class A*		2,197		97,239
PTC, Inc.*		504		91,053
Zoom Video Communications, Inc. — Class A*		1,287		89,755
HubSpot, Inc.*		166		88,246
MongoDB, Inc.*		306		82,727
Manhattan Associates, Inc.*		289		81,319
Dynatrace, Inc.*		1,483		79,296
Akamai Technologies, Inc.*		769		77,630
Nutanix, Inc. — Class A*		1,241		73,529
DocuSign, Inc.*		1,171		72,707
Twilio, Inc. — Class A*		971		63,329
Unity Software, Inc.*		2,526		57,138
Dropbox, Inc. — Class A*		2,202		55,997
Gitlab, Inc. — Class A*		1,007		51,901
Confluent, Inc. — Class A*		2,343		47,750
BILL Holdings, Inc.*		870		45,901
ZoomInfo Technologies, Inc. — Class A*		3,506		36,182
C3.ai, Inc. — Class A*		1,393		33,752
Five9, Inc.*		999		28,701
Total Software				6,106,094
Semiconductors - 28.0%
NVIDIA Corp.		8,700		1,056,528
Broadcom, Inc.		3,221		555,622
Advanced Micro Devices, Inc.*		2,037		334,231
Texas Instruments, Inc.		1,342		277,217
QUALCOMM, Inc.		1,627		276,671
Applied Materials, Inc.		1,334		269,535
Micron Technology, Inc.		2,261		234,488
Intel Corp.*		9,311		218,436
Analog Devices, Inc.		935		215,209
Lam Research Corp.		261		212,997
KLA Corp.		261		202,121
NXP Semiconductor N.V.		769		184,568
ASML Holding N.V. — Class G		206		171,650
Taiwan Semiconductor Manufacturing Company Ltd. ADR		961		166,897
Marvell Technology, Inc.		2,107		151,957
ARM Holdings plc ADR*		988		141,294
Microchip Technology, Inc.		1,646		132,157
STMicroelectronics N.V. — Class Y		4,092		121,655
ON Semiconductor Corp.*		1,565		113,635
Teradyne, Inc.		706		94,555
Monolithic Power Systems, Inc.		95		87,827
Entegris, Inc.		739		83,160
Skyworks Solutions, Inc.		788		77,831
Qorvo, Inc.*		592		61,154
Lattice Semiconductor Corp.*		1,108		58,802
Rambus, Inc.*		1,024		43,233
MKS Instruments, Inc.		379		41,201
GLOBALFOUNDRIES, Inc.*		910		36,627
Axcelis Technologies, Inc.*		217		22,752
Total Semiconductors				5,644,010
Computers - 17.7%
Apple, Inc.		5,065		1,180,145
International Business Machines Corp.		1,294		286,077
Dell Technologies, Inc. — Class C		1,475		174,846
Crowdstrike Holdings, Inc. — Class A*		603		169,123
Fortinet, Inc.*		1,789		138,737
Accenture plc — Class A		388		137,150
TE Connectivity plc		908		137,099
Cognizant Technology Solutions Corp. — Class A		1,589		122,639
Gartner, Inc.*		238		120,609
HP, Inc.		3,339		119,770
Check Point Software Technologies Ltd.*		607		117,036
Infosys Ltd. ADR1		5,038		112,196
Hewlett Packard Enterprise Co.		5,478		112,080
NetApp, Inc.		817		100,908
Seagate Technology Holdings plc		904		99,015
Western Digital Corp.*		1,447		98,816
Super Micro Computer, Inc.*		207		86,195
Pure Storage, Inc. — Class A*		1,566		78,676
Zscaler, Inc.*		455		77,778
Amdocs Ltd.		725		63,423
Lumentum Holdings, Inc.*		683		43,288
Total Computers				3,575,606
Internet - 14.8%
Alphabet, Inc. — Class A		5,512		914,165
Meta Platforms, Inc. — Class A		1,359		777,946
Palo Alto Networks, Inc.*		598		204,396
Baidu, Inc. ADR*		1,418		149,301
Shopify, Inc. — Class A*		1,801		144,332
Sea Ltd. ADR*		1,487		140,194
CDW Corp.		487		110,208
Pinterest, Inc. — Class A*		2,950		95,492
VeriSign, Inc.*		430		81,683
Gen Digital, Inc.		2,827		77,545
Snap, Inc. — Class A*		7,035		75,274

Technology Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.5% (continued)
Internet - 14.8% (continued)
F5, Inc.*	329	$	72,446
Okta, Inc.*	931		69,211
Match Group, Inc.*	1,686		63,798
Total Internet			2,975,991
Telecommunications - 3.8%
Cisco Systems, Inc.	5,350		284,727
Arista Networks, Inc.*	512		196,516
Motorola Solutions, Inc.	381		171,309
Corning, Inc.	2,691		121,499
Total Telecommunications			774,051
Electronics - 2.5%
Amphenol Corp. — Class A	2,684		174,889
Keysight Technologies, Inc.*	672		106,801
Trimble, Inc.*	1,296		80,469
Jabil, Inc.	634		75,972
Flex Ltd.*	2,267		75,786
Total Electronics			513,917
Energy-Alternate Sources - 1.6%
SolarEdge Technologies, Inc.*	6,022		137,964
First Solar, Inc.*	405		101,023
Enphase Energy, Inc.*	691		78,097
Total Energy-Alternate Sources			317,084
Investment Companies - 0.5%
MARA Holdings, Inc.*	2,642		42,853
Cleanspark, Inc.*	3,194		29,832
Riot Platforms, Inc.*,1	3,919		29,079
Total Investment Companies			101,764
Office & Business Equipment - 0.4%
Zebra Technologies Corp. — Class A*	230		85,174
Total Common Stocks
(Cost $6,824,400)			20,093,691

		Face Amount
REPURCHASE AGREEMENTS††,2 - 0.7%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	71,995	71,995
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		59,465	59,465
Total Repurchase Agreements
(Cost $131,460)			131,460

	Shares
SECURITIES LENDING COLLATERAL†,3 - 0.5%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4	108,805		108,805
Total Securities Lending Collateral
(Cost $108,805)			108,805
Total Investments - 100.7%
(Cost $7,064,665)		$	20,333,956
Other Assets & Liabilities, net - (0.7)%			(142,928	)
Total Net Assets - 100.0%		$	20,191,028

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	20,093,691	$	—	$	—	$	20,093,691
Repurchase Agreements		—		131,460		—		131,460
Securities Lending Collateral		108,805		—		—		108,805
Total Assets	$	20,202,496	$	131,460	$	—	$	20,333,956

Telecommunications Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.5%
Telecommunications - 72.0%
Cisco Systems, Inc.		8,325	$	443,057
Verizon Communications, Inc.		9,078		407,693
AT&T, Inc.		18,071		397,562
T-Mobile US, Inc.		1,522		314,080
Arista Networks, Inc.*		624		239,504
Motorola Solutions, Inc.		500		224,815
Juniper Networks, Inc.		3,539		137,950
Ciena Corp.*		1,960		120,716
Frontier Communications Parent, Inc.*		3,197		113,589
Lumen Technologies, Inc.*		15,263		108,367
AST SpaceMobile, Inc.*,1		3,866		101,096
Telefonaktiebolaget LM Ericsson ADR		13,061		99,002
BCE, Inc.		2,792		97,162
EchoStar Corp. — Class A*		3,912		97,096
Vodafone Group plc ADR		9,265		92,835
TELUS Corp.		5,474		91,854
Rogers Communications, Inc. — Class B		2,186		87,899
America Movil SAB de CV ADR		5,310		86,872
Nokia Oyj ADR1		18,578		81,186
Iridium Communications, Inc.		2,449		74,572
InterDigital, Inc.		472		66,849
Calix, Inc.*		1,552		60,202
Telephone & Data Systems, Inc.		2,435		56,614
Viavi Solutions, Inc.*		6,212		56,032
Extreme Networks, Inc.*		3,512		52,785
Harmonic, Inc.*		3,504		51,053
Infinera Corp.*,1		6,826		46,076
CommScope Holding Company, Inc.*		6,635		40,540
Viasat, Inc.*		3,103		37,050
Gogo, Inc.*		3,513		25,223
ADTRAN Holdings, Inc.*		4,126		24,467
Total Telecommunications				3,933,798
Media - 16.4%
Comcast Corp. — Class A		9,704		405,336
Charter Communications, Inc. — Class A*		616		199,633
Liberty Broadband Corp. — Class C*		1,789		138,272
Liberty Global Ltd. — Class C*		4,804		103,815
Liberty Latin America Ltd. — Class C*		4,953		47,004
Total Media				894,060
Internet - 5.9%
F5, Inc.*		647		142,469
Roku, Inc.*		1,666		124,384
Cogent Communications Holdings, Inc.		750		56,940
Total Internet				323,793
Computers - 2.5%
Lumentum Holdings, Inc.*		1,342		85,056
NetScout Systems, Inc.*		2,279		49,568
Total Computers				134,624
Software - 2.2%
Nice Ltd. ADR*		552		95,866
Digi International, Inc.*		872		24,006
Total Software				119,872
Electronics - 0.5%
Applied Optoelectronics, Inc.*		1,703		24,370
Total Common Stocks
(Cost $4,524,850)				5,430,517

	Face Amount
REPURCHASE AGREEMENTS††,2 - 1.0%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	31,248	31,248
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		25,809	25,809
Total Repurchase Agreements
(Cost $57,057)			57,057

	Shares
SECURITIES LENDING COLLATERAL†,3 - 3.3%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4		182,475		182,475
Total Securities Lending Collateral
(Cost $182,475)				182,475
Total Investments - 103.8%
(Cost $4,764,382)			$	5,670,049
Other Assets & Liabilities, net - (3.8)%				(206,596	)
Total Net Assets - 100.0%			$	5,463,453

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.
	ADR — American Depositary Receipt
	plc — Public Limited Company
	See Sector Classification in Other Information section.

Telecommunications Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	5,430,517	$	—	$	—	$	5,430,517
Repurchase Agreements		—		57,057		—		57,057
Securities Lending Collateral		182,475		—		—		182,475
Total Assets	$	5,612,992	$	57,057	$	—	$	5,670,049

Transportation Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.5%
Transportation - 37.1%
Union Pacific Corp.		589	$	145,177
United Parcel Service, Inc. — Class B		978		133,341
CSX Corp.		2,868		99,032
FedEx Corp.		333		91,135
Norfolk Southern Corp.		356		88,466
Old Dominion Freight Line, Inc.		383		76,079
Expeditors International of Washington, Inc.		409		53,743
ZTO Express Cayman, Inc. ADR		1,970		48,797
J.B. Hunt Transport Services, Inc.		265		45,667
CH Robinson Worldwide, Inc.		406		44,810
Canadian Pacific Kansas City Ltd.		522		44,652
Canadian National Railway Co.		373		43,697
XPO, Inc.*		384		41,284
TFI International, Inc.		292		39,972
Knight-Swift Transportation Holdings, Inc.		664		35,823
Saia, Inc.*		78		34,106
Kirby Corp.*		262		32,077
Landstar System, Inc.		166		31,352
Hub Group, Inc. — Class A		443		20,134
ArcBest Corp.		179		19,413
Werner Enterprises, Inc.		482		18,600
Forward Air Corp.*		380		13,452
Total Transportation				1,200,809
Auto Manufacturers - 26.0%
Tesla, Inc.*		1,315		344,044
General Motors Co.		1,831		82,102
Ford Motor Co.		7,304		77,130
Li Auto, Inc. ADR*,1		2,416		61,970
NIO, Inc. ADR*,1		8,367		55,892
Ferrari N.V.		89		41,840
Stellantis N.V.		2,977		41,827
Toyota Motor Corp. ADR		234		41,785
Honda Motor Company Ltd. ADR		1,314		41,693
Rivian Automotive, Inc. — Class A*,1		2,938		32,964
Lucid Group, Inc.*,1		5,677		20,040
Total Auto Manufacturers				841,287
Auto Parts & Equipment - 12.1%
Mobileye Global, Inc. — Class A*,1		4,105		56,238
Aptiv plc*		681		49,039
Magna International, Inc.		1,077		44,200
Autoliv, Inc.		452		42,203
BorgWarner, Inc.		1,007		36,544
Gentex Corp.		1,062		31,531
Lear Corp.		278		30,344
Goodyear Tire & Rubber Co.*		2,279		20,169
Visteon Corp.*		204		19,429
Adient plc*		794		17,921
QuantumScape Corp.*		3,075		17,681
Fox Factory Holding Corp.*		402		16,683
Luminar Technologies, Inc.*,1		9,106		8,193
Total Auto Parts & Equipment				390,175
Airlines - 11.8%
Delta Air Lines, Inc.		1,422		72,223
United Airlines Holdings, Inc.*		966		55,120
Southwest Airlines Co.		1,709		50,638
Ryanair Holdings plc ADR		998		45,090
Copa Holdings S.A. — Class A		461		43,260
American Airlines Group, Inc.*		2,889		32,472
Alaska Air Group, Inc.*		665		30,065
SkyWest, Inc.*		267		22,700
JetBlue Airways Corp.*		2,661		17,456
Allegiant Travel Co. — Class A*		219		12,058
Total Airlines				381,082
Internet - 7.1%
Uber Technologies, Inc.*		2,045		153,702
Grab Holdings Ltd. — Class A*		12,630		47,994
Lyft, Inc. — Class A*		2,053		26,176
Total Internet				227,872
Commercial Services - 1.7%
GXO Logistics, Inc.*		582		30,305
Avis Budget Group, Inc.		185		16,204
Hertz Global Holdings, Inc.*		2,397		7,910
Total Commercial Services				54,419
Home Builders - 1.4%
Thor Industries, Inc.		272		29,890
Winnebago Industries, Inc.		269		15,632
Total Home Builders				45,522
Building Materials - 1.0%
Modine Manufacturing Co.*		236		31,339
Leisure Time - 0.8%
Harley-Davidson, Inc.		691		26,624
Retail - 0.5%
Patrick Industries, Inc.		127		18,081
Total Common Stocks
(Cost $1,429,853)				3,217,210
	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.8%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	13,446		13,446
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		11,106		11,106
Total Repurchase Agreements
(Cost $24,552)				24,552

Transportation Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
SECURITIES LENDING COLLATERAL†,3 - 4.2%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4		137,258	$	137,258
Total Securities Lending Collateral
(Cost $137,258)				137,258
Total Investments - 104.5%
(Cost $1,591,663)			$	3,379,020
Other Assets & Liabilities, net - (4.5)%				(144,411	)
Total Net Assets - 100.0%			$	3,234,609

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.

ADR — American Depositary Receipt

plc — Public Limited Company

See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	3,217,210	$	—	$	—	$	3,217,210
Repurchase Agreements		—		24,552		—		24,552
Securities Lending Collateral		137,258		—		—		137,258
Total Assets	$	3,354,468	$	24,552	$	—	$	3,379,020

Utilities Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Shares		Value
COMMON STOCKS† - 99.6%
Electric - 85.7%
NextEra Energy, Inc.		10,932	$	924,082
Constellation Energy Corp.		2,824		734,297
Southern Co.		7,719		696,099
Duke Energy Corp.		5,654		651,906
Vistra Corp.		4,496		532,956
American Electric Power Company, Inc.		5,014		514,436
Sempra		6,141		513,572
Dominion Energy, Inc.		8,449		488,268
Public Service Enterprise Group, Inc.		5,388		480,663
PG&E Corp.		22,826		451,270
Exelon Corp.		11,037		447,550
Xcel Energy, Inc.		6,493		423,993
Consolidated Edison, Inc.		4,022		418,811
Edison International		4,676		407,233
WEC Energy Group, Inc.		4,029		387,509
Entergy Corp.		2,899		381,537
PPL Corp.		10,438		345,289
Eversource Energy		5,063		344,537
Ameren Corp.		3,934		344,068
FirstEnergy Corp.		7,752		343,801
DTE Energy Co.		2,662		341,827
CMS Energy Corp.		4,532		320,095
NRG Energy, Inc.		3,483		317,301
CenterPoint Energy, Inc.		10,665		313,764
Alliant Energy Corp.		4,601		279,235
AES Corp.		13,589		272,595
Evergy, Inc.		4,253		263,729
Fortis, Inc.		5,434		246,921
Pinnacle West Capital Corp.		2,489		220,501
OGE Energy Corp.		4,922		201,900
Clearway Energy, Inc. — Class C		5,717		175,398
Portland General Electric Co.		3,245		155,436
Black Hills Corp.		2,381		145,527
Ormat Technologies, Inc.		1,749		134,568
Northwestern Energy Group, Inc.		2,276		130,233
Avista Corp.		3,155		122,256
Avangrid, Inc.		3,100		110,949
Otter Tail Corp.		1,388		108,486
Talen Energy Corp.*		518		92,328
Hawaiian Electric Industries, Inc.*		6,867		66,473
Total Electric				13,851,399
Gas - 9.1%
Atmos Energy Corp.		2,365		328,049
NiSource, Inc.		8,063		279,383
Brookfield Infrastructure Corp. — Class A		5,751		249,766
UGI Corp.		6,625		165,758
Southwest Gas Holdings, Inc.		2,045		150,839
New Jersey Resources Corp.		3,195		150,804
ONE Gas, Inc.		1,953		145,342
Total Gas				1,469,941
Water - 3.6%
American Water Works Company, Inc.		2,547		372,473
Essential Utilities, Inc.		5,624		216,918
Total Water				589,391
Energy-Alternate Sources - 1.2%
NextEra Energy Partners, LP		4,265		117,799
Sunnova Energy International, Inc.*,1		7,663		74,638
Total Energy-Alternate Sources				192,437
Total Common Stocks
(Cost $9,495,459)				16,103,168

	Face Amount
REPURCHASE AGREEMENTS††,2 - 0.9%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/24	$	83,795	83,795
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/24		69,211	69,211
Total Repurchase Agreements
(Cost $153,006)			153,006

	Shares
SECURITIES LENDING COLLATERAL†,3 - 0.4%
Money Market Fund***
First American Government Obligations Fund - Class X, 4.82%4		58,512		58,512
Total Securities Lending Collateral
(Cost $58,512)				58,512
Total Investments - 100.9%
(Cost $9,706,977)			$	16,314,686
Other Assets & Liabilities, net - (0.9)%				(148,001	)
Total Net Assets - 100.0%			$	16,166,685

*	Non-income producing security.
***	A copy of each underlying unaffiliated fund's financial statements is available at the SEC's website at www.sec.gov.
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	All or a portion of this security is on loan at September 30, 2024 — See Note 5.
2	Repurchase Agreements — See Note 4.
3	Securities lending collateral — See Note 5.
4	Rate indicated is the 7-day yield as of September 30, 2024.
	See Sector Classification in Other Information section.

Utilities Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments): 

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
Common Stocks	$	16,103,168	$	—	$	—	$	16,103,168
Repurchase Agreements		—		153,006		—		153,006
Securities Lending Collateral		58,512		—		—		58,512
Total Assets	$	16,161,680	$	153,006	$	—	$	16,314,686

Weakening Dollar 2x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)	September 30, 2024

	Face Amount		Value
U.S. TREASURY BILLS†† - 14.9%
U.S. Treasury Bills
4.62% due 10/01/241	$	100,000	$	100,000
4.28% due 10/01/241		100,000		100,000
4.63% due 10/10/241,2		15,000		14,983
Total U.S. Treasury Bills
(Cost $214,981)				214,983
FEDERAL AGENCY NOTES†† - 13.8%
Freddie Mac
5.15% due 01/17/25		100,000		100,020
Fannie Mae
1.63% due 10/15/24		100,000		99,869
Total Federal Agency Notes
(Cost $199,881)				199,889
FEDERAL AGENCY DISCOUNT NOTES†† - 13.8%
Federal Home Loan Bank
4.60% due 10/01/241		100,000		100,000
4.70% due 10/23/241		100,000		99,713
Total Federal Agency Discount Notes
(Cost $199,713)				199,713
REPURCHASE AGREEMENTS††,3 - 58.5%
J.P. Morgan Securities LLC issued 09/30/24 at 4.86% due 10/01/244		464,050		464,050
BofA Securities, Inc. issued 09/30/24 at 4.85% due 10/01/244		383,283		383,283
Total Repurchase Agreements
(Cost $847,333)				847,333
Total Investments - 101.0%
(Cost $1,461,909)			$	1,461,918
Other Assets & Liabilities, net - (1.0)%				(13,851	)
Total Net Assets - 100.0%			$	1,448,067

Futures Contracts

Description	Number of Contracts		Expiration Date	Notional Amount		Value and Unrealized Appreciation**
Currency Futures Contracts Sold Short†
U.S. Dollar Index Futures Contracts		19	Dec 2024	$	1,909,785	$	13,128

Total Return Swap Agreements

Counterparty	Index	Type	Financing Rate	Payment Frequency	Maturity Date	Units	Notional Amount		Value and Unrealized Appreciation
OTC Currency Index Swap Agreements Sold Short††
Goldman Sachs International	U.S. Dollar Index	Pay	N/A	At Maturity	12/20/24	9,808	$	985,863	$	1,009

**	Includes cumulative appreciation (depreciation).
†	Value determined based on Level 1 inputs — See Note 3.
††	Value determined based on Level 2 inputs — See Note 3.
1	Rate indicated is the effective yield at the time of purchase.
2	All or a portion of this security is pledged as futures collateral at September 30, 2024.
3	Repurchase Agreements — See Note 4.
4	All or a portion of this security is pledged as currency index swap collateral at September 30, 2024.
	See Sector Classification in Other Information section.

The following table summarizes the inputs used to value the Fund's investments at September 30, 2024 (See Note 3 in the Notes to Schedule of Investments):

Investments in Securities (Assets)	Level 1 Quoted Prices		Level 2 Significant Observable Inputs		Level 3 Significant Unobservable Inputs		Total
U.S. Treasury Bills	$	—	$	214,983	$	—	$	214,983
Federal Agency Notes		—		199,889		—		199,889
Federal Agency Discount Notes		—		199,713		—		199,713
Repurchase Agreements		—		847,334		—		847,334
Currency Futures Contracts**		13,128		—		—		13,128
Currency Index Swap Agreements**		—		1,009		—		1,009
Total Assets	$	13,128	$	1,462,928	$	—	$	1,476,056

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

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)                            

Note 1 – Organization, Consolidation of Subsidiary and Significant Accounting Policies

Organization

The Rydex Variable Trust (the “Trust”), a Delaware statutory trust, is registered with the U.S. Securities and Exchange Commission (the “SEC”) under the Investment Company Act of 1940 (“1940 Act”), as an open-ended investment company of the series type. Each series, in effect, is representing a separate fund (each, a "Fund"). The Trust may issue an unlimited number of authorized shares. The Trust offers shares of the funds to insurance companies for their variable annuity and variable life insurance contracts.

This report covers the following funds (collectively, the “Funds”):

Fund Name	Investment Company Type
Banking Fund	Diversified
Basic Materials Fund	Diversified
Biotechnology Fund	Diversified
Commodities Strategy Fund	Non-Diversified
Consumer Products Fund	Diversified
Dow 2x Strategy Fund	Non-Diversified
Electronics Fund	Non-Diversified
Energy Fund	Diversified
Energy Services Fund	Non-Diversified
Europe 1.25x Strategy Fund	Non-Diversified
Financial Services Fund	Diversified
Global Managed Futures Strategy Fund	Diversified
Government Long Bond 1.2x Strategy Fund	Diversified
Health Care Fund	Diversified
High Yield Strategy Fund	Non-Diversified
Internet Fund	Diversified
Inverse Dow 2x Strategy Fund	Non-Diversified
Inverse Government Long Bond Strategy Fund	Diversified
Inverse Mid-Cap Strategy Fund	Non-Diversified
Inverse NASDAQ-100® Strategy Fund	Non-Diversified
Inverse Russell 2000® Strategy Fund	Non-Diversified
Inverse S&P 500® Strategy Fund	Non-Diversified
Japan 2x Strategy Fund	Non-Diversified
Leisure Fund	Diversified
Mid-Cap 1.5x Strategy Fund	Non-Diversified
Multi-Hedge Strategies Fund	Diversified
NASDAQ-100® 2x Strategy Fund	Non-Diversified
NASDAQ-100® Fund	Non-Diversified
Nova Fund	Non-Diversified
Precious Metals Fund	Non-Diversified
Real Estate Fund	Diversified
Retailing Fund	Diversified
Russell 2000® 1.5x Strategy Fund	Non-Diversified
Russell 2000® 2x Strategy Fund	Non-Diversified
S&P 500® 2x Strategy Fund	Non-Diversified
S&P 500® Pure Growth Fund	Non-Diversified
S&P 500® Pure Value Fund	Non-Diversified
S&P MidCap 400® Pure Growth Fund	Non-Diversified
S&P MidCap 400® Pure Value Fund	Non-Diversified
S&P SmallCap 600® Pure Growth Fund	Non-Diversified
S&P SmallCap 600® Pure Value Fund	Non-Diversified
Strengthening Dollar 2x Strategy Fund	Non-Diversified
Technology Fund	Diversified
Telecommunications Fund	Non-Diversified
Transportation Fund	Diversified
Utilities Fund	Diversified
Weakening Dollar 2x Strategy Fund	Non-Diversified

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)                            

For information on the Funds' policy regarding valuation of investments and other significant accounting policies, please refer to the Funds' most recent semi-annual or annual shareholder report.

Consolidation of Subsidiary 

The consolidated schedules of investments include the accounts of a wholly-owned and controlled Cayman Islands subsidiary (the “Subsidiary”). Significant intercompany accounts and transactions have been eliminated in consolidation for the Funds.

Each Fund may invest up to 25% of its total assets in the Subsidiary which acts as an investment vehicle in order to effect certain investmentsconsistent with the Funds’ investment objectives and policies.  

Significant Accounting Policies

The Funds operate as investment companies and, accordingly, follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946 Financial Services – Investment Companies. 

The following significant accounting policies are in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and are consistently followed by the Trust. This requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. All time references are based on Eastern Time.

(a) Valuation of Investments 

The Board of Trustees of the Funds (the “Board”) adopted policies and procedures for the valuation of the Funds’ investments (the “Fund Valuation Procedures”).

Pursuant to Rule 2a-5, the Board designated the Adviser as the valuation designee to perform fair valuation determinations for the Funds with respect to all Fund investments and/or other assets. As the Funds’ valuation designee pursuant to Rule 2a-5, the Adviser has adopted separate procedures (the “Valuation Designee Procedures” and collectively with the Fund Valuation Procedures, the "Valuation Procedures") reasonably designed to prevent violations of the requirements of Rule 2a-5 and Rule 31a-4 under the 1940 Act. The Adviser, in its role as valuation designee, utilizes the assistance of a valuation committee, consisting of representatives from Guggenheim’s investment management, fund administration, legal and compliance departments (the “Valuation Committee”), in determining the fair value of the Funds’ securities and/or other assets. The Valuation Procedures may be amended and potentially adversely affected as the Funds seek to comply with regulations that apply to the valuation practices of registered investment companies.

Valuations of the Funds’ securities and other assets are supplied primarily by independent third-party pricing services appointed pursuant to the processes set forth in the Valuation Procedures. The Adviser, with the assistance of the Valuation Committee, convenes monthly, or more frequently as needed, to review the valuation of all assets which have been fair valued. The Adviser, consistent with the monitoring and review responsibilities set forth in the Valuation Procedures, regularly reviews the appropriateness of the inputs, methods, models and assumptions employed by the independent third-party pricing services.

If the independent third-party pricing service cannot or does not provide a valuation for a particular investment or such valuation is deemed unreliable, such investment is fair valued by the Adviser.

Equity securities listed or traded on a recognized U.S. securities exchange or the Nasdaq Stock Market (“NASDAQ”) will generally be valued on the basis of the last sale price on the primary U.S. exchange or market on which the security is listed or traded; provided, however, that securities listed on NASDAQ will be valued at the NASDAQ official closing price, which may not necessarily represent the last sale price.

Generally, trading in foreign securities markets is substantially completed each day at various times prior to the close of the New York Stock Exchange (“NYSE”). The values of foreign securities are determined as of the close of such foreign markets or the close of the NYSE, if earlier. All investments quoted in foreign currencies are valued in U.S. dollars on the basis of the foreign currency exchange rates prevailing at the close of U.S. business at 4:00 p.m. Investments in foreign securities may involve risks not present in domestic investments. The Adviser will determine the current value of such foreign securities by taking into consideration certain factors which may include the following factors, among others: the value of the securities traded on other foreign markets, American Depositary Receipts (“ADR”) trading, closed-end fund trading, foreign currency exchange activity, and the trading prices of financial products that are tied to foreign securities. In addition, under the Valuation Procedures, the Adviser is authorized to use prices and other information supplied by a independent third-party pricing services in valuing foreign securities.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)                            

Open-end investment companies are valued at their net asset value as of the close of business, on the valuation date. Exchange-traded funds and closed-end investment companies are generally valued at the last quoted sale price.

U.S. Government securities are valued by independent third-party pricing services, using the last traded fill price, or at the reported bid price at the close of business on the valuation date.

Commercial paper and discount notes with a maturity of greater than 60 days at acquisition are valued at prices that reflect broker-dealer supplied valuations or are obtained from independent third-party pricing services, which may consider the trade activity, treasury spreads, yields or price of bonds of comparable quality, coupon, maturity, and type, as well as prices quoted by dealers who make markets in such securities. Commercial paper and discount notes with a maturity of 60 days or less at acquisition are valued at amortized cost, unless the Adviser concludes that amortized cost does not represent the fair value of the applicable asset in which case it will be valued using an independent third-party pricing services.

Repurchase agreements are generally valued at amortized cost, provided such amounts approximate market value.

Futures contracts are valued on the basis of the last sale price as of 4:00 p.m. on the valuation date. In the event that the exchange for a specific futures contract closes earlier than 4:00 p.m., the futures contract is valued at the official settlement price of the exchange. However, the underlying securities from which the futures contract value is derived are monitored until 4:00 p.m. to determine if fair valuation would provide a more accurate valuation.

Currency index swap agreements entered into by a Fund is accounted for using the unrealized appreciation or depreciation on the agreements that is determined by marking the agreements to the broker quote.

Swap agreements entered into by a Fund are generally valued using an evaluated price provided by a independent third-party pricing service.

Investments for which market quotations are not readily available are fair valued as determined in good faith by the Adviser. Valuations in accordance with these methods are intended to reflect each security’s (or asset’s or liability’s) “fair value". Each such determination is based on a consideration of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to market prices; sale prices; broker quotes; and models which derive prices based on inputs such as prices of securities with comparable maturities and characteristics, or on inputs such as anticipated cash flows or collateral, spread over U.S. Treasury securities, and other information analysis. In connection with futures contracts and other derivative investments, such factors may include obtaining information as to how (a) these contracts and other derivative investments trade in the futures or other derivative markets, respectively, and (b) the securities underlying these contracts and other derivative investments trade in the cash market.

Note 2 – Financial Instruments and Derivatives 

As part of their investment strategy, the Funds utilize short sales and a variety of derivative instruments. These investments involve, to varying degrees, elements of market risk. Valuation and accounting treatment of these instruments can be found under Significant Accounting Policies in Note 1 of these Notes to Schedule of Investments.

Short Sales 

A short sale is a transaction in which a Fund sells a security it does not own. If the security sold short decreases in price between the time the Fund sells the security and closes its short position, the Fund will realize a gain on the transaction. Conversely, if the security increases in price during the period, the Fund will realize a loss on the transaction. The risk of such price increases is the principal risk of engaging in short sales.

Derivatives 

Derivatives are instruments whose values depend on, or are derived from, in whole or in part, the value of one or more other assets, such as securities, currencies, commodities or indices. Derivative instruments may be used for investment purposes (including to maintain cash reserves while maintaining exposure to certain other assets), for risk management (hedging) purposes, to facilitate trading, to reduce transaction costs and to pursue higher investment returns. Derivative instruments may also be used to seek to mitigate certain investment risks, such as foreign currency exchange rate risk, interest rate risk and credit risk. U.S. GAAP requires disclosures to enable investors to better understand how and why a Fund uses derivative instruments, how these derivative instruments are accounted for and their effects on the Fund’s financial position and results of operations.

The Funds may utilize derivatives for the following purposes:

Duration: the use of an instrument to manage the interest rate risk of a portfolio.

Index Exposure: the use of an instrument to obtain exposure to a listed or other type of index.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)                            

Leverage: gaining total exposure to equities or other assets on the long and short sides at greater than 100% of invested capital.

Liquidity: the ability to buy or sell exposure with little price/market impact.

If a Fund's whose investment strategy consistently involves applying leverage, the value of the Fund’s shares will tend to increase or decrease more than the value of any increase or decrease in the underlying index or other asset. In addition, because an investment in derivative instruments generally requires a small investment relative to the amount of investment exposure assumed, an opportunity for increased net income is created; but, at the same time, leverage risk will increase. The Fund’s use of leverage, through borrowings or instruments such as derivatives, may cause the Fund to be more volatile and riskier than if they had not been leveraged.

Futures Contracts

A futures contract is an agreement to purchase (long) or sell (short) an agreed amount of securities or other instruments at a set price for delivery at a future date. There are significant risks associated with a Fund's use of futures contracts, including (i) there may be an imperfect or no correlation between the changes in market value of the underlying asset and the prices of futures contracts; (ii) there may not be a liquid secondary market for a futures contract; (iii) trading restrictions or limitations may be imposed by an exchange; and (iv) government regulations may restrict trading in futures contracts. When investing in futures, there is minimal counterparty credit risk to a Fund because futures are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded futures, guarantees against default. Securities held as collateral are noted on the Funds' Schedules of Investments.

Swap Agreements

A swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals based upon or calculated by reference to changes in specified prices or rates for a specified amount of an underlying asset. When utilizing over-the-counter ("OTC") swaps, a Fund bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a swap agreement counterparty or if the underlying asset declines in value. Certain standardized swaps are subject to mandatory central clearing and are executed on a multi-lateral or other trade facility platform, such as a registered exchange. There is limited counterparty credit risk with respect to centrally-cleared swaps as the transaction is facilitated through a central clearinghouse, much like exchange-traded futures contracts. For a Fund utilizing centrally-cleared swaps, the exchange bears the risk of loss resulting from a counterparty not being able to pay. There is no guarantee that a Fund or an underlying fund could eliminate its exposure under an outstanding swap agreement by entering into an offsetting swap agreement with the same or another party.

Total return swaps involve commitments where single or multiple cash flows are exchanged based on the price of an underlying reference asset (such as index or basket) or a fixed or variable interest rate. Index swaps will usually be computed based on the current index value as of the close of regular trading on the NYSE or other exchange, with the swap value being adjusted to include dividends accrued, financing charges and/or interest associated with the swap agreement. When utilizing a total return index swap the Fund bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a swap agreement counterparty or if the underlying index declines in value.

Currency swaps enable the Funds to gain exposure to currencies in a market without actually possessing a given currency, or to hedge a position. Currency swaps involve the exchange of the principal and interest in one currency for the principal and interest in another currency. As in other types of OTC swaps, the Funds may be at risk due to the counterparty’s inability to perform.

Credit default swaps are instruments which allow for the full or partial transfer of third party credit risk, with respect to a particular entity or entities, from one counterparty to the other. A fund enters into credit default swaps as a “seller” or “buyer” of protection primarily to gain or reduce exposure to the investment grade and/or high yield bond market. A seller of credit default swaps is selling credit protection or assuming credit risk with respect to the underlying entity or entities. The buyer in a credit default swap is obligated to pay the seller a periodic stream of payments over the term of the contract provided that no event of default on an underlying reference obligation has occurred. If a credit event occurs, as defined under the terms of the swap agreement, the seller will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. The notional amount reflects the maximum potential amount the seller of credit protection could be required to pay to the buyer if a credit event occurs. The seller of protection receives periodic premium payments from the buyer and may also receive or pay an upfront premium adjustment to the stated periodic payments. In the event a credit event occurs on a credit default swap referencing an index, a factor adjustment will take place and the buyer of protection will receive a payment reflecting the par less the default recovery rate of the defaulted index component based on its weighting in the index. If no default occurs, the counterparty will pay the stream of payments and have no further obligations to the fund selling the credit protection. For a fund utilizing centrally cleared credit default swaps, the exchange bears the risk of loss resulting from a counterparty not being able to pay. For OTC credit default swaps, a fund bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a swap agreement counterparty, or in the case of a credit default swap in which a fund is selling credit protection, the default of a third party issuer.

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)                            

The quoted market prices and resulting market values for credit default swap agreements on securities and credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative had the notional amount of the swap agreement been closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

In conjunction with short sales and the use of derivative instruments, the Funds are required to maintain collateral in various forms. Depending on the financial instrument utilized and the broker involved, the Funds use margin deposits at the broker, cash and/or securities segregated at the custodian bank, discount notes or repurchase agreements allocated to the Funds as collateral.

The Trust has established counterparty credit guidelines and enters into transactions only with financial institutions rated/identified as investment grade or better. The Trust monitors the counterparty credit risk associated with each such financial institution.

Foreign Investments 

There are several risks associated with exposure to foreign currencies, foreign issuers and emerging markets. A fund’s indirect and direct exposure to foreign currencies subjects the Fund to the risk that those currencies will decline in value relative to the U.S. dollar, or in the case of short positions, that the U.S. dollar will decline in value relative to the currency being hedged. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad. In addition, the Funds may incur transaction costs in connection with conversions between various currencies. The Funds may, but are not obligated to, engage in currency hedging transactions, which generally involve buying currency forward, options or futures contracts. However, not all currency risks maybe effectively hedged, and in some cases the costs of hedging techniques may outweigh expected benefits. In such instances, the value of securities denominated in foreign currencies can change significantly when foreign currencies strengthen or weaken relative to the U.S. dollar.

The Funds may invest in securities of foreign companies directly, or in financial instruments, such as ADRs and exchange-traded funds, which are indirectly linked to the performance of foreign issuers. Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Investing in securities of foreign companies directly, or in financial instruments that are indirectly linked to the performance of foreign issuers, may involve risks not typically associated with investing in U.S. issuers. The value of securities denominated in foreign currencies, and of dividends from such securities, can change significantly when foreign currencies strengthen or weaken relative to the U.S. dollar. Foreign securities markets generally have less trading volume and less liquidity than U.S. markets, and prices in some foreign markets may fluctuate more than those of securities traded on U.S. markets. Many foreign countries lack accounting and disclosure standards comparable to those that apply to U.S. companies, and it may be more difficult to obtain reliable information regarding a foreign issuer’s financial condition and operations. Transaction costs and costs associated with custody services are generally higher for foreign securities than they are for U.S. securities. Some foreign governments levy withholding taxes against dividend and interest income. Although in some countries portions of these taxes are recoverable, the non-recovered portion will reduce the income received by the Funds.

Note 3 – Fair Value Measurement   

In accordance with U.S. GAAP, fair value is defined as the price that the Funds would receive to sell an investment or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a three-tier fair value hierarchy based on the types of inputs used to value assets and liabilities and requires corresponding disclosure. The hierarchy and the corresponding inputs are summarized below:

Level 1 — unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2 — significant other observable inputs (for example quoted prices for securities that are similar based on characteristics such as interest rates, prepayment speeds, credit risk, etc.).

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)                            

Level 3 — significant unobservable inputs based on the best information available under the circumstances, to the extent observable inputs are not available, which may include assumptions.

Rule 2a-5 sets forth a definition of “readily available market quotations,” which is consistent with the definition of a Level 1 input under U.S. GAAP. Rule 2a-5 provides that “a market quotation is readily available only when that quotation is a quoted price (unadjusted) in active markets for identical investments that the fund can access at the measurement date, provided that a quotation will not be readily available if it is not reliable.”

Securities for which market quotations are not readily available must be valued at fair value as determined in good faith. Accordingly, any security priced using inputs other than Level 1 inputs will be subject to fair value requirements. The types of inputs available depend on a variety of factors, such as the type of security and the characteristics of the markets in which it trades, if any. Fair valuation determinations that rely on fewer or no observable inputs require greater judgment. Accordingly, fair value determinations for Level 3 securities require the greatest amount of judgment.

The inputs or methodologies selected and applied for valuing securities or other assets are not necessarily an indication of the risk associated with investing in those securities. The suitability, appropriateness and accuracy of the techniques, methodologies and sources employed to determine fair valuation are periodically reviewed and subject to change.

Note 4 – Repurchase Agreements 

The Funds transfer uninvested cash balances into a single joint account, the daily aggregate balance of which is invested in one or more repurchase agreements collateralized by obligations of the U.S. Treasury and U.S. government agencies.  The joint account includes other Funds in the Guggenheim complex not covered in this report. The collateral is in the possession of the Funds’ custodian and is evaluated to ensure that its market value exceeds, at a minimum, 102% of the original face amount of the repurchase agreements. Each Fund holds a pro rata share of the collateral based on the dollar amount of the repurchase agreement entered into by each Fund.

At September 30, 2024, the repurchase agreements in the joint account were as follows:

Counterparty and Terms of Agreement	Face Value		Repurchase Price		Collateral	Par Value		Fair Value
J.P. Morgan Securities LLC					U.S. Treasury Strips
4.86%					0.00%
Due 10/01/24	$	39,487,866	$	39,493,197	10/31/24 - 08/15/29	$	45,861,994	$	40,264,087
					U.S. Treasury Inflation Indexed Bond
					2.38%
					Due 01/15/25		13,349		13,329
					U.S. Treasury Bond
					4.38%
					Due 05/15/41		100		106
					U.S. Treasury Note
					4.00%
					Due 07/31/29		100		103
							45,875,543		40,277,625
BofA Securities, Inc.					U.S. Treasury Note
4.85%					4.00%
Due 10/01/24		32,615,141		32,619,535	07/31/30		32,325,900		33,267,503

In the event of counterparty default, the Funds have the right to collect the collateral to offset losses incurred. There is potential loss to the Funds in the event the Funds are delayed or prevented from exercising their rights to dispose of the collateral securities, including the risk of a possible decline in the value of the underlying securities during the period while the Funds seek to assert their rights. GI, acting under the supervision of the Board, reviews the value of the collateral and the creditworthiness of those banks and dealers with which the Funds enter into repurchase agreements to evaluate potential risks.

Note 5 – Portfolio Securities Loaned 

The Funds may lend their securities to approved brokers to earn additional income. Security lending income is net of rebates paid to the borrowers and earnings on cash collateral investments shared with the lending agent. Within this arrangement, the Funds act as the lender, U.S. Bank acts as the lending agent, and other approved registered broker dealers act as the borrowers. The Funds receive cash collateral, valued at 102% of the value of the securities on loan. Under the terms of the Funds’ securities lending agreement with U.S. Bank, cash collateral and proceeds are invested in the First American Government Obligations Fund – Class X. The Funds bear the risk of loss on cash collateral investments. Collateral is maintained over the life of the loan in an amount not less than the value of loaned securities, as determined at the close of fund business each day; any additional collateral required due to changes in security values is delivered to the Funds the next business day. Although the collateral mitigates the risk, the Funds could experience a delay in recovering its securities and a possible loss of income or value if the borrower fails to return the securities. The Funds have the right under the securities lending agreement to recover the securities from the borrower on demand. Securities lending transactions are accounted for as secured borrowings. The remaining contractual maturity of the securities lending agreement is overnight and continuous.

At September 30, 2024, the Funds participated in securities lending transactions, which are subject to enforceable netting arrangements, as follows:

Fund	Value of Securities Loaned		Collateral Received
Banking Fund	$	37,983	$	39,046
Basic Materials Fund		128,832		134,512
Biotechnology Fund		201,931		214,683
Electronics Fund		608,116		623,150
Energy Fund		281,415		290,178

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)                            

Fund	Value of Securities Loaned		Collateral Received
Energy Services Fund		23,028		23,736
Europe 1.25x Strategy Fund		58,155		60,273
Financial Services Fund		106,727		109,678
Health Care Fund		84,517		87,252
High Yield Strategy Fund		91,238		93,067
Internet Fund		33,251		34,054
Leisure Fund		44,806		46,605
Mid-Cap 1.5x Strategy Fund		10,749		11,076
Multi-Hedge Strategies Fund		148,490		155,907
Precious Metals Fund		975,262		1,044,860
Real Estate Fund		78,082		81,475
Russell 2000® 1.5x Strategy Fund		324,666		331,150
Russell 2000® 2x Strategy Fund		136,006		138,502
S&P 500® Pure Value Fund		257,142		272,396
S&P MidCap 400® Pure Value Fund		37,835		38,870
S&P SmallCap 600® Pure Growth Fund		39,029		40,858
S&P SmallCap 600® Pure Value Fund		67,515		72,131
Technology Fund		104,407		108,805
Telecommunications Fund		179,688		182,475
Transportation Fund		131,536		137,258
Utilities Fund		53,015		58,512

In the event of counterparty default, the Funds have the right to collect the collateral to offset losses incurred. There is potential loss to the Funds in the event the Funds are delayed or prevented from exercising their rights to dispose of the collateral securities, including the risk of a possible decline in the value of the underlying securities during the period while the Funds seek to assert their rights. GI, acting under the supervision of the Board, reviews the value of the collateral and the creditworthiness of those banks and dealers to evaluate potential risks.

Note 6 – Federal Income Tax Information 

The Funds intend to comply with the provisions of Subchapter M of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), applicable to regulated investment companies and will distribute substantially all taxable net investment income and capital gains sufficient to relieve the Funds from all, or substantially all, federal income, excise and state income taxes. Therefore, no provision for federal or state income tax or federal excise tax is required.

Tax positions taken or expected to be taken in the course of preparing the Funds' tax returns are evaluated to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions not deemed to meet the "more-likely-than-not" threshold would be recorded as a tax benefit or expense in the current year. Management has analyzed the Funds' tax positions taken, or to be taken, on U.S. federal income tax returns for all open tax years, and has concluded that no provision for income tax is required in the Funds' financial statements. The Funds' U.S. federal income tax returns are subject to examination by the Internal Revenue Service ("IRS") for a period of three years after they are filed.

The Commodities Strategy Fund, Global Managed Futures Strategy Fund and Multi-Hedge Strategies Fund intend to invest up to 25% of their assets in the respective Subsidiary which is expected to provide the Funds with exposure to the commodities markets within the limitations of the U.S. federal income tax requirements under Subchapter M of the Internal Revenue Code. The Funds have received a private letter ruling from the IRS that concludes that the income the Funds receive from the Subsidiary will constitute qualifying income for purposes of Subchapter M of the Internal Revenue Code. The Subsidiary will be classified as a corporation for U.S. federal income tax purposes. A foreign corporation, such as the Subsidiary, will generally not be subject to U.S. federal income taxation unless it is deemed to be engaged in a U.S. trade or business. If, during a taxable year, the Subsidiary’s taxable losses (and other deductible items) exceed its income and gains, the net loss will not pass through to the Fund as a deductible amount for U.S. federal income tax purposes and cannot be carried forward to reduce future income from the Subsidiary in subsequent years.

At September 30, 2024, the cost of investments for U.S. federal income tax purposes, the aggregate gross unrealized appreciation for all investments for which there was an excess of value over tax cost, and the aggregate gross unrealized depreciation for all investments for which there was an excess of tax cost over value, were as follows:

Fund	Tax Cost		Tax Unrealized Appreciation		Tax Unrealized Depreciation			Net Tax Unrealized Appreciation (Depreciation)
Banking Fund	$	1,750,979	$	941,857	$	(112	)	$	941,745
Basic Materials Fund		3,508,676		3,112,823		(36,614	)		3,076,209
Biotechnology Fund		6,489,626		4,856,723		(46,850	)		4,809,873
Commodities Strategy Fund		6,120,480		–		(433,817	)		(433,817	)
Consumer Products Fund		3,772,349		3,464,081		(19,307	)		3,444,774
Dow 2x Strategy Fund		5,014,082		1,886,930		–			1,886,930
Electronics Fund		18,980,960		15,444,571		(806,963	)		14,637,608
Energy Fund		7,416,026		3,611,723		(35,304	)		3,576,419
Energy Services Fund		3,310,500		820,667		(41,890	)		778,777
Europe 1.25x Strategy Fund		1,791,108		252,263		(5	)		252,258
Financial Services Fund		7,824,443		4,721,921		(1,858	)		4,720,063
Global Managed Futures Strategy Fund		12,574,007		320,324		(171,067	)		149,257
Government Long Bond 1.2x Strategy Fund		6,231,533		–		(3,416	)		(3,416	)
Health Care Fund		5,344,344		7,285,742		(54,826	)		7,230,916
High Yield Strategy Fund		9,639,472		17,947		(32,529	)		(14,582	)
Internet Fund		5,451,209		2,569,472		(60,765	)		2,508,707
Inverse Dow 2x Strategy Fund		1,786,026		49		(16,187	)		(16,138	)
Inverse Government Long Bond Strategy Fund		2,615,191		9,331		–			9,331
Inverse Mid-Cap Strategy Fund		119,722		577		(740	)		(163	)
Inverse NASDAQ-100® Strategy Fund		1,002,875		865		(4,926	)		(4,061	)
Inverse Russell 2000® Strategy Fund		631,409		1,924		(7,937	)		(6,013	)
Inverse S&P 500® Strategy Fund		1,253,989		2,112		(6,512	)		(4,400	)
Japan 2x Strategy Fund		1,640,844		249,889		(26,691	)		223,198
Leisure Fund		2,594,207		1,523,630		(4,975	)		1,518,655
Mid-Cap 1.5x Strategy Fund		3,448,714		953,797		(100,190	)		853,607
Multi-Hedge Strategies Fund		28,066,232		4,421,275		(2,863,734	)		1,557,541
NASDAQ-100® 2x Strategy Fund		99,677,068		12,746,174		(93,813	)		12,652,361
NASDAQ-100® Fund		70,477,891		53,500,565		(337,673	)		53,162,892
Nova Fund		33,994,889		8,315,650		(86,665	)		8,228,985
Precious Metals Fund		23,395,417		7,291,906		–			7,291,906
Real Estate Fund		5,702,436		1,798,325		(362	)		1,797,963
Retailing Fund		1,167,933		1,268,250		(22,683	)		1,245,567
Russell 2000® 1.5x Strategy Fund		3,700,293		265,647		(237,651	)		27,996
Russell 2000® 2x Strategy Fund		15,702,354		409,970		–			409,970
S&P 500® 2x Strategy Fund		30,613,310		6,873,705		(42,115	)		6,831,590
S&P 500® Pure Growth Fund		24,181,509		5,922,741		(387,677	)		5,535,064
S&P 500® Pure Value Fund		17,387,584		2,695,395		(230,669	)		2,464,726
S&P MidCap 400® Pure Growth Fund		9,690,023		2,114,734		(363,404	)		1,751,330
S&P MidCap 400® Pure Value Fund		5,964,486		1,600,036		(222,796	)		1,377,240
S&P SmallCap 600® Pure Growth Fund		7,004,889		1,296,350		(135,181	)		1,161,169
S&P SmallCap 600® Pure Value Fund		8,102,341		963,544		(180,697	)		782,847
Strengthening Dollar 2x Strategy Fund		1,244,870		3,600		(5	)		3,595
Technology Fund		8,705,948		11,838,588		(210,580	)		11,628,008
Telecommunications Fund		5,322,621		401,354		(53,926	)		347,428
Transportation Fund		1,963,342		1,444,755		(29,077	)		1,415,678
Utilities Fund		10,812,041		5,519,781		(17,136	)		5,502,645
Weakening Dollar 2x Strategy Fund		1,461,909		14,146		–			14,146

Note 7 – Market Risks 

The value of, or income generated by, the investments held by the Funds are subject to the possibility of rapid and unpredictable fluctuation, and loss that may result from various factors. These factors include, among others, developments affecting individual companies, or from broader influences, including real or perceived changes in prevailing interest rates (which may change at any time based on changes in monetary policies and various market and other economic conditions), changes in inflation rates or expectations about inflation rates, adverse investor confidence or sentiment, changing economic, political (including geopolitical), social or financial market conditions, increased instability or general uncertainty, environmental disasters, governmental actions, public health emergencies (such as the spread of infectious diseases, pandemics and epidemics), debt crises, actual or threatened wars or other armed conflicts (such as the ongoing Russia-Ukraine conflict and its collateral economic and other effects, including, but not limited to, sanctions and other international trade barriers) or ratings downgrades, and other similar events, each of which may be temporary or last for extended periods. Moreover, changing economic, political, geopolitical, social, financial market or other conditions in one country, geographic region or industry could adversely affect the value, yield and return of the investments held by the Funds in a different country, geographic region, economy, industry or market because of the increasingly interconnected global economies and financial markets. The duration and extent of the foregoing types of factors or conditions are highly uncertain and difficult to predict and have in the past, and may in the future, cause volatility and distress in economies and financial markets or other adverse circumstances, which may negatively affect the value of the Funds’ investments and performance of the Funds.

OTHER INFORMATION (Unaudited)

Sector Classification 

Information in the “Schedule of Investments” is categorized by sectors using sector-level classifications defined by the Bloomberg Industry Classification System, a widely recognized industry classification system provider. Each Fund’s registration statement has investment policies relating to concentration in specific sectors/industries. For purposes of these investment policies, the Funds usually classify sectors/industries based on industry-level Classifications used by widely recognized industry classification system providers such as Bloomberg Industry Classification System, Global Industry Classification Standards and Barclays Global Classification Scheme.