Schedule of investments
Optimum International Fund
December 31, 2019 (Unaudited)
Number of | Value | Number of | Value | ||||
shares | (US $) | shares | (US $) | ||||
Common Stock - 98.48%D | Common StockD(continued) | ||||||
Australia - 3.16% | Canada (continued) | ||||||
Aristocrat Leisure | 158,900 | $ | 3,754,477 | Hardwoods Distribution | 3,300 | $ | 41,423 |
BHP Group ADR * | 56,752 | 3,104,902 | Linamar | 4,100 | 155,121 | ||
BlueScope Steel | 25,878 | 273,488 | Magna International Class A | 79,418 | 4,354,520 | ||
Cochlear | 12,524 | 1,975,088 | Manulife Financial | 163,600 | 3,321,009 | ||
Evolution Mining | 166,841 | 444,907 | Power Corp. of Canada | 54,200 | 1,396,165 | ||
Fortescue Metals Group | 646,254 | 4,848,008 | Rogers Communications | ||||
Newcrest Mining | 76,576 | 1,625,551 | Class B (US Shares) * | 50,316 | 2,499,196 | ||
Orora | 14,615 | 32,614 | Royal Bank of Canada | 86,234 | 6,823,413 | ||
Perseus Mining † | 88,077 | 71,697 | Stantec | 16,780 | 474,241 | ||
Qantas Airways | 269,479 | 1,344,550 | Toronto-Dominion Bank | 88,500 | 4,963,579 | ||
QBE Insurance Group | 79,731 | 720,652 | TransGlobe Energy | 13,876 | 19,149 | ||
St Barbara | 61,981 | 118,307 | 38,842,111 | ||||
Western Areas | 18,461 | 39,254 | Chile - 0.67% | ||||
18,353,495 | Enel Americas ADR | 178,871 | 1,964,004 | ||||
Austria - 1.78% | Sociedad Quimica y Minera de | ||||||
Erste Group Bank † | 102,415 | 3,846,929 | Chile ADR | 71,578 | 1,910,417 | ||
Raiffeisen Bank International | 37,374 | 935,451 | 3,874,421 | ||||
Schoeller-Bleckmann Oilfield | China/Hong Kong - 11.96% | ||||||
Equipment * | 38,533 | 2,162,323 | Anhui Conch Cement | ||||
voestalpine * | 121,625 | 3,373,347 | Class H | 1,271,500 | 9,268,278 | ||
10,318,050 | ANTA Sports Products | 502,000 | 4,493,474 | ||||
Belgium - 0.03% | Asia Cement China Holdings | 393,862 | 588,344 | ||||
Barco | 232 | 56,991 | Baidu ADR † | 21,998 | 2,780,547 | ||
Galapagos ADR † | 445 | 92,039 | Build King Holdings | 210,000 | 23,985 | ||
149,030 | BYD Class H * | 493,000 | 2,457,946 | ||||
Changyou. com ADR | 22,945 | 224,632 | |||||
Brazil - 2.25% | Chiho Environmental Group † | 57,220 | 2,754 | ||||
Banco Bradesco ADR | 478,982 | 4,286,889 | China BlueChemical Class H | 330,000 | 81,311 | ||
BR Malls Participacoes | 49,200 | 220,884 | China Life Insurance Class H | 1,488,000 | 4,134,235 | ||
Cosan Class A † | 7,000 | 159,880 | China National Chemical | ||||
Direcional Engenharia | 95,800 | 357,223 | Engineering Class A | 191,900 | 177,417 | ||
IRB Brasil Resseguros | 15,100 | 146,207 | China Overseas Grand Oceans | ||||
Porto Seguro | 78,100 | 1,218,086 | Group | 218,833 | 151,369 | ||
Sul America | 329,600 | 4,909,546 | China SCE Group Holdings | 807,000 | 470,180 | ||
TOTVS | 110,300 | 1,769,922 | China Telecom ADR | 3,668 | 151,085 | ||
13,068,637 | China United Network | ||||||
Cambodia - 0.08% | Communications Class A | 58,900 | 49,804 | ||||
NagaCorp | 270,000 | 471,234 | CNOOC | 1,868,000 | 3,106,821 | ||
471,234 | Country Garden Services | ||||||
Holdings | 397,000 | 1,337,378 | |||||
Canada - 6.69% | Dare Power Dekor Home | ||||||
Bank of Montreal | 76,351 | 5,917,342 | Class A | 87,607 | 175,951 | ||
Canadian Imperial Bank of | Dongfang Electric Class H | 329,996 | 199,040 | ||||
Commerce | 50,700 | 4,219,046 | FinVolution Group ADR | 270 | 715 | ||
CGI † | 4,800 | 401,691 | Gansu Qilianshan Cement | ||||
Constellation Software | 4,000 | 3,884,825 | Group Class A | 357,400 | 643,922 | ||
Great-West Lifeco | 14,500 | 371,391 |
(continues)NQ-OPTIE [12/19] 2/20 (1082596) 1
Schedule of investments
Optimum International Fund (Unaudited)
Number of | Value | Number of | Value | ||||
shares | (US $) | shares | (US $) | ||||
Common StockD(continued) | Common StockD(continued) | ||||||
China/Hong Kong (continued) | China/Hong Kong (continued) | ||||||
Gemdale Properties & | XCMG Construction | ||||||
Investment | 284,000 | $ | 37,540 | Machinery Class A | 1,835,900 | $ | 1,441,689 |
GoerTek Class A | 621,500 | 1,777,320 | Xinjiang Tianshan Cement | ||||
Greenland Holdings Class A | 1,127,700 | 1,125,158 | Class A | 59,300 | 100,881 | ||
Hangzhou Binjiang Real | Yuexiu Property | 692,000 | 159,850 | ||||
Estate Group Class A | 598,200 | 422,519 | Zhejiang Yankon Group | ||||
Hilong Holding | 176,000 | 19,650 | Class A | 1,051,450 | 716,997 | ||
Hisense Home Appliances | Zhengzhou Yutong Bus Class | ||||||
Group Class H | 516,000 | 565,512 | A | 97,300 | 199,050 | ||
Hopson Development | 69,479,621 | ||||||
Holdings | 94,000 | 95,299 | Colombia - 0.72% | ||||
Industrial & Commercial Bank | Bancolombia ADR | 76,638 | 4,198,996 | ||||
of China Class H | 7,123,000 | 5,484,645 | |||||
Joincare Pharmaceutical | 4,198,996 | ||||||
Group Industry Class A | 222,480 | 330,572 | Czech Republic - 0.33% | ||||
Lenovo Group | 418,000 | 280,551 | Komercni banka | 51,932 | 1,901,832 | ||
Li Ning | 231,500 | 693,701 | 1,901,832 | ||||
Logan Property Holdings | 610,000 | 1,023,934 | Denmark - 0.75% | ||||
Nanjing Iron & Steel Class A | 821,100 | 406,678 | H. Lundbeck | 80,320 | 3,070,675 | ||
NetEase ADR | 4,323 | 1,325,605 | Novo Nordisk Class B | 22,528 | 1,305,471 | ||
Ningbo Huaxiang Electronic | |||||||
Class A | 468,200 | 1,039,145 | 4,376,146 | ||||
On-Bright Electronics | 15,000 | 107,082 | Finland - 0.12% | ||||
PetroChina Class H | 2,892,000 | 1,451,140 | Neste | 19,345 | 673,112 | ||
Poly Property Group | 92,504 | 38,344 | 673,112 | ||||
Qudian ADR † | 125,082 | 589,136 | France - 4.81% | ||||
Risen Energy Class A | 546,100 | 1,085,818 | BNP Paribas | 16,831 | 997,395 | ||
RiseSun Real Estate | Capgemini | 32,717 | 3,996,484 | ||||
Development Class A | 511,100 | 721,265 | Credit Agricole | 53,596 | 777,033 | ||
Sailun Group Class A | 876,400 | 562,400 | Ipsen | 17,059 | 1,511,671 | ||
Sany Heavy Industry Class A | 1,292,400 | 3,163,418 | IPSOS | 23,199 | 753,346 | ||
Shanghai Fosun | Peugeot | 179,836 | 4,296,679 | ||||
Pharmaceutical Group | |||||||
Class H | 860,000 | 2,593,586 | Safran | 46,624 | 7,198,839 | ||
Shanghai Shimao Class A | 212,478 | 137,266 | Societe Generale | 111,187 | 3,868,143 | ||
Shanxi Taigang Stainless Steel | Sodexo | 37,667 | 4,463,826 | ||||
Class A | 841,800 | 494,274 | Virbac † | 331 | 87,808 | ||
Shimao Property Holdings | 289,000 | 1,120,054 | 27,951,224 | ||||
Sinopec Engineering Group | Germany - 3.44% | ||||||
Class H | 34,001 | 20,333 | Allianz | 16,441 | 4,028,502 | ||
Sinopharm Group Class H | 955,200 | 3,487,474 | Continental | 27,434 | 3,545,303 | ||
Sinotruk Hong Kong | 545,375 | 1,163,217 | Elmos Semiconductor | 386 | 12,340 | ||
Sunac China Holdings | 487,000 | 2,909,263 | Merck | 39,937 | 4,708,323 | ||
Vipshop Holdings ADR † | 8,166 | 115,712 | MTU Aero Engines | 10,981 | 3,128,769 | ||
Weichai Power Class H | 602,000 | 1,270,085 | Muenchener | ||||
Wuhu Sanqi Interactive | Rueckversicherungs- | ||||||
Entertainment Network | Gesellschaft | 4,198 | 1,238,800 | ||||
Technology Group Class A | 176,993 | 684,270 | Vonovia | 61,239 | 3,289,108 | ||
19,951,145 |
2 NQ-OPTIE [12/19] 2/20 (1082596)
(Unaudited) | |||||||
Number of | Value | Number of | Value | ||||
shares | (US $) | shares | (US $) | ||||
Common StockD(continued) | Common StockD(continued) | ||||||
Greece - 0.02% | Japan (continued) | ||||||
Motor Oil Hellas Corinth | T-Gaia | 36,100 | $ | 874,338 | |||
Refineries | 3,926 | $ | 90,806 | Tokyo Electric Power Co. | |||
90,806 | Holdings † | 699,700 | 2,995,106 | ||||
Hungary - 0.32% | Tokyo Sangyo | 1,401 | 7,932 | ||||
MOL Hungarian Oil & Gas | 57,125 | 569,429 | Toray Industries | 506,600 | 3,432,481 | ||
OTP Bank | 24,671 | 1,291,773 | 52,456,032 | ||||
1,861,202 | Luxembourg - 0.80% | ||||||
India - 1.99% | Eurofins Scientific * | 8,430 | 4,673,121 | ||||
HDFC Bank ADR | 82,284 | 5,214,337 | 4,673,121 | ||||
ICICI Bank ADR | 413,612 | 6,241,405 | Malaysia - 0.04% | ||||
Reliance Capital † | 571,390 | 118,075 | AMMB Holdings | 218,200 | 208,572 | ||
11,573,817 | Lii Hen Industries | 26,800 | 20,114 | ||||
Israel - 3.64% | 228,686 | ||||||
Bank Hapoalim | 832,211 | 6,904,365 | Mexico - 0.96% | ||||
Bank Leumi Le-Israel | 924,850 | 6,732,902 | Alpek | 579,517 | 642,120 | ||
Check Point Software | Corp. Inmobiliaria Vesta | 53,466 | 96,483 | ||||
Technologies *† | 46,964 | 5,211,125 | Credito Real | 75,575 | 94,491 | ||
CyberArk Software (Israel) † | 13,558 | 1,580,592 | Gentera | 98,883 | 101,406 | ||
Nice ADR † | 4,718 | 731,998 | Grupo Aeroportuario del | ||||
21,160,982 | Centro Norte | 19,792 | 148,182 | ||||
Italy - 1.87% | Grupo Financiero Banorte | ||||||
Assicurazioni Generali | 87,620 | 1,808,897 | Class O | 645,900 | 3,606,040 | ||
Grupo Financiero Inbursa | |||||||
Banca Mediolanum | 15,694 | 155,953 | Class O | 170,518 | 209,230 | ||
Enel | 540,331 | 4,292,295 | Orbia Advance | 320,224 | 682,874 | ||
Prysmian | 191,834 | 4,630,725 | |||||
5,580,826 | |||||||
10,887,870 | |||||||
Netherlands - 4.82% | |||||||
Japan - 9.03% | ASM International | 6,532 | 733,793 | ||||
Advantest | 2,900 | 163,555 | ASR Nederland | 13,697 | 512,541 | ||
Astellas Pharma | 273,000 | 4,660,107 | EXOR | 47,738 | 3,701,197 | ||
Denso | 109,900 | 4,963,341 | Heineken | 49,795 | 5,301,761 | ||
Fujitsu | 69,500 | 6,536,880 | Hunter Douglas | 146 | 9,499 | ||
Hitachi | 102,900 | 4,341,943 | Koninklijke Ahold Delhaize | 202,415 | 5,062,055 | ||
Itochu Techno-Solutions | 7,100 | 199,951 | Koninklijke KPN | 592,819 | 1,749,523 | ||
Japan Post Holdings | 56,200 | 528,531 | Koninklijke Philips | 121,375 | 5,925,089 | ||
KDDI | 25,200 | 751,877 | NN Group | 33,978 | 1,288,986 | ||
Mitsubishi UFJ Financial | NXP Semiconductors | ||||||
Group | 504,500 | 2,727,497 | (Netherlands) | 2,580 | 328,331 | ||
Mixi | 78,200 | 1,482,620 | Royal Dutch Shell Class A | 114,639 | 3,364,572 | ||
Nihon Unisys | 2,900 | 90,970 | |||||
Nippon Telegraph & | 27,977,347 | ||||||
Telephone | 116,400 | 2,941,858 | New Zealand - 0.08% | ||||
NTT DOCOMO | 150,300 | 4,186,778 | Fisher & Paykel Healthcare | 32,831 | 490,661 | ||
Otsuka | 20,400 | 814,673 | 490,661 | ||||
Secom | 64,300 | 5,738,308 | Norway - 2.42% | ||||
Sumitomo Dainippon Pharma | 93,400 | 1,809,638 | DNB | 316,554 | 5,923,645 | ||
Suzuken | 78,700 | 3,207,648 |
(continues)NQ-OPTIE [12/19] 2/20 (1082596) 3
Schedule of investments
Optimum International Fund (Unaudited)
Number of | Value | Number of | Value | ||||
shares | (US $) | shares | (US $) | ||||
Common StockD(continued) | Common StockD(continued) | ||||||
Norway (continued) | Republic of Korea (continued) | ||||||
Equinor ADR | 225,224 | $ | 4,484,210 | UniTest | 646 | $ | 7,997 |
Norsk Hydro | 974,646 | 3,624,331 | YAS | 3,114 | 52,832 | ||
14,032,186 | Zeus | 2,096 | 24,652 | ||||
Philippines - 0.00% | 28,952,720 | ||||||
Ginebra San Miguel | 36,090 | 27,032 | Russia - 0.06% | ||||
27,032 | Globaltrans Investment GDR | 3,093 | 27,373 | ||||
Poland - 0.09% | Tatneft ADR | 4,613 | 340,716 | ||||
Asseco Poland | 24,238 | 407,343 | 368,089 | ||||
Jastrzebska Spolka Weglowa | 1,900 | 10,721 | Singapore - 1.26% | ||||
LiveChat Software | 8,172 | 93,268 | DBS Group Holdings | 246,900 | 4,750,936 | ||
TEN Square Games | 741 | 38,672 | IGG | 79,000 | 58,295 | ||
550,004 | Jardine Cycle & Carriage | 50,714 | 1,134,980 | ||||
Portugal - 0.01% | United Industrial | 644,100 | 1,374,450 | ||||
NOS SGPS | 8,504 | 45,787 | 7,318,661 | ||||
45,787 | South Africa - 0.23% | ||||||
Republic of Korea - 4.99% | AECI | 18,805 | 143,662 | ||||
AK Holdings | 623 | 18,650 | Anglo American Platinum | 2,060 | 192,282 | ||
BNK Financial Group | 30,687 | 202,834 | Momentum Metropolitan | ||||
Daehan Steel | 4,588 | 23,889 | Holdings | 88,888 | 138,606 | ||
Daelim Industrial | 9,638 | 753,977 | Reunert | 32,980 | 170,952 | ||
DB † | 5,542 | 4,209 | Sappi | 142,484 | 444,258 | ||
DB HiTek | 34,374 | 820,363 | Telkom | 109,756 | 272,862 | ||
DGB Financial Group | 22,389 | 137,638 | 1,362,622 | ||||
DMS | 6,768 | 31,953 | Spain - 2.45% | ||||
Gabia | 3,764 | 26,886 | Amadeus IT Group | 102,832 | 8,397,236 | ||
Hana Financial Group | 3,806 | 121,061 | Atlantica Yield | 215,028 | 5,674,589 | ||
Hancom | 9,822 | 84,793 | Cia de Distribucion Integral | ||||
Handsome | 3,352 | 91,445 | Logista Holdings | 6,671 | 150,405 | ||
Hanwha Aerospace † | 2,216 | 67,031 | 14,222,230 | ||||
HDC Hyundai Development | Sweden - 0.36% | ||||||
Co-Engineering & | AddTech Class B | 565 | 18,278 | ||||
Construction | 2,880 | 63,680 | Betsson | 43,990 | 205,002 | ||
Huneed Technologies † | 3,303 | 20,742 | Swedish Match | 35,715 | 1,839,920 | ||
Industrial Bank of Korea † | 32,398 | 330,243 | |||||
JB Financial Group | 37,570 | 178,246 | 2,063,200 | ||||
Kia Motors | 69,333 | 2,647,863 | Switzerland - 6.23% | ||||
KT ADR † | 213,894 | 2,481,170 | Credit Suisse Group ADR | 267,800 | 3,601,910 | ||
LG Electronics | 48,487 | 3,011,877 | Ferrexpo | 1,036,110 | 2,181,480 | ||
LG Uplus | 43,138 | 529,099 | Novartis | 79,411 | 7,519,396 | ||
LMS | 15,005 | 227,019 | Novartis ADR | 72,999 | 6,912,275 | ||
Mcnex | 20,005 | 649,199 | Roche Holding | 47,451 | 15,421,709 | ||
NHN KCP | 51,756 | 989,457 | Zehnder Group | 11,237 | 529,456 | ||
Partron | 11,785 | 134,297 | 36,166,226 | ||||
Samsung Electronics | 176,336 | 8,497,082 | Taiwan - 4.82% | ||||
Samsung Securities | 25,793 | 859,041 | APCB | 67,000 | 58,111 | ||
SK Hynix | 71,312 | 5,800,358 | ASE Technology Holding | 1,567,671 | 4,351,010 | ||
Top Engineering | 7,295 | 63,137 | Asia Vital Components | 477,000 | 662,743 |
4 NQ-OPTIE [12/19] 2/20 (1082596)
(Unaudited) | |||||||
Number of | Value | Number of | Value | ||||
shares | (US $) | shares | (US $) | ||||
Common StockD(continued) | Common StockD(continued) | ||||||
Taiwan (continued) | United Arab Emirates - 0.05% | ||||||
Chenbro Micom | 32,000 | $ | 89,882 | Emaar Properties | 273,104 | $ | 298,893 |
Chia Chang | 155,000 | 213,806 | 298,893 | ||||
Chicony Electronics | 86,000 | 255,329 | United Kingdom - 7.66% | ||||
China Life Insurance † | 96,000 | 81,983 | 3i Group | 7,632 | 111,001 | ||
Compal Electronics | 43,000 | 27,039 | Aviva | 37,717 | 209,182 | ||
Elan Microelectronics | 143,500 | 436,575 | BAE Systems | 545,775 | 4,083,129 | ||
Eson Precision Ind | 10,000 | 12,343 | Barclays | 1,829,797 | 4,354,023 | ||
Hannstar Board | 94,000 | 137,659 | Bloomsbury Publishing | 7,733 | 29,705 | ||
Hon Hai Precision Industry | 2,215,200 | 6,709,816 | BT Group | 292,499 | 745,598 | ||
Lite-On Technology | 101,000 | 166,272 | Diageo | 178,447 | 7,565,051 | ||
Lumax International | 22,000 | 58,858 | Dialog Semiconductor † | 21,808 | 1,107,568 | ||
Phison Electronics | 58,000 | 658,805 | Drax Group | 7,088 | 29,481 | ||
Radiant Opto-Electronics | 518,000 | 2,073,590 | Evraz | 38,299 | 204,953 | ||
Realtek Semiconductor | 64,000 | 501,718 | Go-Ahead Group Class | ||||
Simplo Technology | 27,000 | 272,909 | AHEAD GROUP | 1,214 | 35,506 | ||
Sitronix Technology | 79,000 | 441,422 | Greggs | 1,048 | 31,900 | ||
Sunplus Technology | 142,000 | 64,186 | H&T Group | 623 | 2,789 | ||
Synnex Technology | Hollywood Bowl Group | 3,813 | 14,394 | ||||
International | 495,000 | 619,225 | HSBC Holdings | 528,204 | 4,141,282 | ||
Taiwan PCB Techvest | 279,000 | 340,176 | Indivior † | 377,052 | 194,783 | ||
Taiwan Semiconductor | International Consolidated | ||||||
Manufacturing | 732,000 | 8,082,597 | Airlines Group | 164,709 | 1,363,585 | ||
Topco Scientific | 55,000 | 193,565 | ITV | 1,414,031 | 2,828,268 | ||
TPK Holding † | 71,000 | 134,530 | Legal & General Group | 320,475 | 1,286,239 | ||
Tripod Technology | 172,000 | 720,085 | London Stock Exchange | ||||
Winbond Electronics | 483,000 | 314,997 | Group | 30,160 | 3,096,120 | ||
Wistron | 265,000 | 250,617 | Nomad Foods † | 10,824 | 242,133 | ||
Yuanta Financial Holding | 70,000 | 47,169 | RELX | 183,859 | 4,632,030 | ||
27,977,017 | Rio Tinto | 32,422 | 2,284,315 | ||||
Thailand - 0.75% | Rio Tinto ADR * | 70,015 | 4,156,090 | ||||
Krung Thai Bank NVDR | 2,496,700 | 1,366,189 | Softcat | 38,345 | 585,121 | ||
PTT Exploration & Production | St James’s Place | 11,815 | 182,246 | ||||
NVDR | 597,500 | 2,479,824 | Standard Chartered | 104,604 | 987,090 | ||
Thanachart Capital NVDR | 282,968 | 504,878 | 44,503,582 | ||||
4,350,891 | United States - 6.19% | ||||||
Turkey - 0.55% | Atlantic Power † | 11,200 | 26,047 | ||||
Dogan Sirketler Grubu | Atlassian Class A † | 29,958 | 3,605,146 | ||||
Holding | 1,241,079 | 383,860 | Carnival | 91,236 | 4,637,526 | ||
Haci Omer Sabanci Holding | 152,100 | 243,912 | Core Laboratories | 68,213 | 2,569,584 | ||
Klimasan Klima Sanayi ve | Everest Re Group | 21,150 | 5,855,166 | ||||
Ticaret | 8,790 | 32,624 | ICON † | 100,278 | 17,270,879 | ||
Turkiye Garanti Bankasi † | 837,821 | 1,568,890 | JBS | 222,300 | 1,425,744 | ||
Turkiye Halk Bankasi † | 400,884 | 398,256 | Project Star =p | 1,420 | 418,163 | ||
Turkiye Sise ve Cam | Project Star Series G =p | 470 | 138,406 | ||||
Fabrikalari | 574,083 | 508,559 | 35,946,661 | ||||
Vestel Elektronik Sanayi ve | |||||||
Ticaret † | 29,159 | 61,857 | Total Common Stock | ||||
3,197,958 | (cost $495,299,057) | 571,974,163 |
(continues)NQ-OPTIE [12/19] 2/20 (1082596) 5
Schedule of investments
Optimum International Fund (Unaudited)
Number of | Value | Principal | Value | |||||||||
shares | (US $) | amount° | (US $) | |||||||||
Short-Term Investments - 1.21% | Securities Lending Collateral (continued) | |||||||||||
Money Market Mutual Funds - 1.21% | Repurchase Agreements (continued) | |||||||||||
BlackRock | Bank of Nova Scotia | |||||||||||
FedFund - Institutional | 1.55%, dated 12/31/19, to | |||||||||||
Shares (seven-day effective | be repurchased on 1/2/20, | |||||||||||
yield 1.52%) | 1,398,784 | $ | 1,398,784 | repurchase price | ||||||||
Fidelity Investments Money | $3,026,993 (collateralized | |||||||||||
Market Government | by US government | |||||||||||
Portfolio - Class I | obligations | |||||||||||
(seven-day effective yield | 0.125%-2.75% | |||||||||||
1.49%) | 1,398,783 | 1,398,783 | 11/15/20-10/31/24; | |||||||||
GS Financial Square | market value $3,087,533) | 3,026,732 | $ | 3,026,732 | ||||||||
Government | BofA Securities | |||||||||||
Fund - Institutional Shares | 1.55%, dated 12/31/19, to | |||||||||||
(seven-day effective yield | be repurchased on 1/2/20, | |||||||||||
1.51%) | 1,398,783 | 1,398,783 | repurchase price | |||||||||
Morgan Stanley Government | $3,026,993 (collateralized | |||||||||||
Portfolio - Institutional | by US government | |||||||||||
Share Class (seven-day | obligations 1.75%-2.00% | |||||||||||
effective yield 1.48%) | 1,398,783 | 1,398,783 | 6/15/22-6/30/24; market | |||||||||
State Street Institutional US | value $3,087,276) | 3,026,732 | 3,026,732 | |||||||||
Government Money Market | Credit Agricole | |||||||||||
Fund - Investor Class | 1.55%, dated 12/31/19, to | |||||||||||
(seven-day effective yield | be repurchased on 1/2/20, | |||||||||||
1.45%) | 1,398,783 | 1,398,783 | repurchase price | |||||||||
$3,026,993 (collateralized | ||||||||||||
Total Short-Term | by US government | |||||||||||
Investments | obligations 0.125% | |||||||||||
(cost $6,993,916) | 6,993,916 | 1/15/22; market value | ||||||||||
$ | 3,087,268) | 3,026,732 | 3,026,732 | |||||||||
Total Value of Securities | JP Morgan Securities | |||||||||||
Before Securities Lending | 1.55%, dated 12/31/19, to | |||||||||||
Collateral - 99.69% | be repurchased on 1/2/20, | |||||||||||
(cost $502,292,973) | 578,968,079 | repurchase price $311,769 | ||||||||||
(collateralized by US | ||||||||||||
Principal | government obligations | |||||||||||
amount° | 1.75%-2.875% | |||||||||||
9/15/21-6/30/24; market | ||||||||||||
Securities Lending Collateral - 2.24% | value $317,977) | 311,742 | 311,742 | |||||||||
Certificate of Deposit - 0.10%` | 12,418,670 | |||||||||||
Bank of Nova Scotia (Toronto) | ||||||||||||
1.55% 1/2/20 | 585,000 | 585,000 | Total Securities Lending | |||||||||
585,000 | Collateral | |||||||||||
(cost $13,003,670) | 13,003,670 | |||||||||||
Repurchase Agreements - 2.14% | ||||||||||||
Bank of Montreal | Total Value of | |||||||||||
1.55%, dated 12/31/19, to | Securities - 101.93% | |||||||||||
be repurchased on 1/2/20, | (cost $515,296,643) | $ | 591,971,749 | ■ | ||||||||
repurchase price | ||||||||||||
$3,026,993 (collateralized | ||||||||||||
by US government | ||||||||||||
obligations | ||||||||||||
0.125%-7.875% | ||||||||||||
2/15/21-10/15/24; market | ||||||||||||
value $3,087,269) | 3,026,732 | 3,026,732 |
6 NQ-OPTIE [12/19] 2/20 (1082596)
(Unaudited) | |||||||||||
Obligation to Return | D Securities have been classified by country of origin. | ||||||||||
Securities Lending | p Restricted security. These investments are in securities not registered | ||||||||||
Collateral - (2.24%) | $ | (12,987,837 | ) | under the Securities Act of 1933, as amended, and have certain | |||||||
Receivables and Other | restrictions on resale which may limit their liquidity. At | ||||||||||
Assets Net of | Dec. 31, 2019, the aggregate value of restricted securities was | ||||||||||
Liabilities - 0.31% | 1,798,907 | $556,569, which represented 0.10% of the Fund’s net assets. See | |||||||||
Net Assets Applicable to | the table below for additional details on restricted securities. | ||||||||||
43,239,953 Shares | † Non-income producing security. | ||||||||||
Outstanding - 100.00% | $ | 580,782,819 | |||||||||
Restricted Securities | |||||||||||
* | Fully or partially on loan. | ||||||||||
= | The value of this security was determined using significant unobservable | Investment | Date of Acquisition | Cost | Value | ||||||
inputs and is reported as a Level 3 security. | Project Star | 5/7/14 | $ | 999,482 | $ | 418,163 | |||||
` The rate shown is the effective yield at the time of purchase. | Project Star Series G | 10/29/14 | 396,443 | 138,406 | |||||||
■Includes $14,834,749 of securities loaned. | Total | $ | 1,395,925 | $ | 556,569 | ||||||
° | Principal amount shown is stated in USD unless noted that the security | ||||||||||
is denominated in another currency. |
The following foreign currency exchange contracts were outstanding at Dec. 31, 2019: | |||||||||||||
Foreign Currency Exchange Contracts | |||||||||||||
Currency to | Settlement | Unrealized | Unrealized | ||||||||||
Counterparty | Receive (Deliver) | In Exchange For | Date | Appreciation | Depreciation | ||||||||
BBH | EUR | 168,840 | USD | (188,985) | 1/2/20 | $ | 426 | $ | — | ||||
BBH | JPY | 27,879,587 | USD | (255,893) | 1/7/20 | 801 | — | ||||||
BBH | NOK | 1,149,376 | USD | (130,266) | 1/2/20 | 654 | — | ||||||
BBH | SGD | (572) | USD | 424 | 1/2/20 | — | (1) | ||||||
BBH | SGD | (1,149) | USD | 854 | 1/3/20 | — | — | ||||||
Total Foreign Currency Exchange Contracts | $ | 1,881 | $ | (1) |
The use of foreign currency exchange contracts involves elements of market risk and risks in excess of the amounts disclosed in the financial
statements. The foreign currency exchange contracts presented above represent the Fund’s total exposure in such contracts, whereas only the net
unrealized appreciation (depreciation) is reflected in the Fund’s net assets.
Summary of abbreviations: | NOK - Norwegian Krone |
ADR - American Depositary Receipt | NVDR - Non-Voting Depositary Receipt |
BBH - Brown Brothers Harriman & Co. | SGD - Singapore Dollar |
EUR - European Monetary Unit | USD - US Dollar |
GDR - Global Depositary Receipt | |
GS - Goldman Sachs | |
JPY - Japanese Yen |
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