| | | Shares | | | Value | |
| Common Stocks (98.0%) | | | | | | | | |
| AL Rajhi Bank (Banks) | | | 41,669 | | | $ | 654,429 | |
| Alibaba Group Holding Ltd.* (Internet & Direct Marketing Retail) | | | 29,728 | | | | 943,612 | |
| Alibaba Group Holding Ltd. ADR* (Internet & Direct Marketing Retail) | | | 12,769 | | | | 3,205,274 | |
| Azul SA ADR* (Airlines) | | | 24,750 | | | | 285,615 | |
| Banco BTG Pactual SA (Capital Markets) | | | 27,600 | | | | 459,153 | |
| CD Projekt SA* (Entertainment) | | | 3,200 | | | | 343,654 | |
| China Overseas Land & Investment Ltd. (Real Estate Management & Development) | | | 243,000 | | | | 739,965 | |
| China Petroleum & Chemical Corp. (Oil, Gas & Consumable Fuels) | | | 2,078,000 | | | | 890,177 | |
| China Resources Gas Group Ltd. (Gas Utilities) | | | 152,000 | | | | 749,203 | |
| Cipla Ltd. (Pharmaceuticals) | | | 91,679 | | | | 882,567 | |
| Clicks Group Ltd. (Food & Staples Retailing) | | | 22,100 | | | | 295,255 | |
| Credicorp Ltd. (Banks) | | | 2,700 | | | | 343,359 | |
| CSPC Pharmaceutical Group Ltd. (Pharmaceuticals) | | | 322,400 | | | | 676,407 | |
| Dabur India Ltd. (Personal Products) | | | 99,762 | | | | 684,861 | |
| Dalmia Bharat Ltd. (Construction Materials) | | | 108,453 | | | | 1,102,761 | |
| Detsky Mir PJSC (Specialty Retail) | | | 293,091 | | | | 461,841 | |
| FirstRand Ltd. (Diversified Financial Services) | | | 115,795 | | | | 263,087 | |
| Gail India Ltd. (Gas Utilities) | | | 477,692 | | | | 617,170 | |
| Geely Automobile Holdings Ltd. (Automobiles) | | | 300,000 | | | | 630,960 | |
| Grupo Financiero Banorte Sab de CV* (Banks) | | | 126,800 | | | | 454,264 | |
| Halyk Savings Bank of Kazakhstan JSC GDR (Banks) | | | 24,400 | | | | 270,840 | |
| HDFC Bank Ltd.* (Banks) | | | 85,534 | | | | 1,180,891 | |
| Hindustan Petroleum Corp., Ltd. (Oil, Gas & Consumable Fuels) | | | 299,417 | | | | 860,537 | |
| ICICI Bank Ltd.* (Banks) | | | 318,023 | | | | 1,474,322 | |
| Industrial & Commerical Bank of China Ltd., H Shares (Banks) | | | 1,729,000 | | | | 1,021,770 | |
| KAZ Minerals PLC (Metals & Mining) | | | 75,262 | | | | 532,506 | |
| Kingsoft Cloud Holdings Ltd. ADR* (IT Services) | | | 5,661 | | | | 198,701 | |
| Lemon Tree Hotels Ltd.* (Hotels, Restaurants & Leisure) | | | 1,224,474 | | | | 386,293 | |
| Li-Ning Co. Ltd. (Textiles, Apparel & Luxury Goods) | | | 287,000 | | | | 923,943 | |
| Lojas Renner SA (Multiline Retail) | | | 73,700 | | | | 580,325 | |
| MediaTek, Inc. (Semiconductors & Semiconductor Equipment) | | | 59,000 | | | | 1,412,100 | |
| Meituan Dianping, Class B* (Internet & Direct Marketing Retail) | | | 22,100 | | | | 547,217 | |
| MercadoLibre, Inc.* (Internet & Direct Marketing Retail) | | | 654 | | | | 735,501 | |
| Mr. Price Group Ltd. (Specialty Retail) | | | 36,331 | | | | 269,385 | |
| Narayana Hrudayalaya Ltd. (Health Care Providers & Services) | | | 189,559 | | | | 734,721 | |
| NAVER Corp. (Interactive Media & Services) | | | 2,695 | | | | 680,990 | |
| New Oriental Education & Technology Group, Inc. ADR* (Diversified Consumer Services) | | | 4,340 | | | | 608,468 | |
| Novatek PJSC GDR (Oil, Gas & Consumable Fuels) | | | 3,650 | | | | 535,090 | |
| Phu Nhuan Jewelry JSC (Textiles, Apparel & Luxury Goods) | | | 225,970 | | | | 503,109 | |
| Ping An Insurance (Group) Co. of China Ltd., H Shares (Insurance) | | | 100,500 | | | | 1,064,638 | |
| POSCO (Metals & Mining) | | | 4,069 | | | | 660,973 | |
| Prosus NV* (Internet & Direct Marketing Retail) | | | 9,421 | | | | 910,987 | |
| Raia Drogasil SA (Food & Staples Retailing) | | | 24,900 | | | | 595,456 | |
| Reliance Industries Ltd. (Oil, Gas & Consumable Fuels) | | | 39,587 | | | | 1,093,879 | |
| Rumo SA* (Road & Rail) | | | 157,827 | | | | 676,902 | |
| Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | | | 56,699 | | | | 2,755,936 | |
| Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | | | 32,047 | | | | 1,331,705 | |
| Samsung SDI Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 2,865 | | | | 956,042 | |
| Sberbank of Russia PJSC ADR* (Banks) | | | 44,930 | | | | 535,341 | |
| SBI Life Insurance Co. Ltd.* (Insurance) | | | 70,763 | | | | 863,496 | |
| Security Bank Corp. (Banks) | | | 354,920 | | | | 664,563 | |
| Shinhan Financial Group Co. Ltd. (Banks) | | | 42,915 | | | | 1,084,404 | |
| Sun Art Retail Group Ltd. (Food & Staples Retailing) | | | 390,500 | | | | 542,158 | |
| Suzano SA* (Paper & Forest Products) | | | 70,800 | | | | 573,372 | |
| Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors & Semiconductor Equipment) | | | 132,000 | | | | 1,917,648 | |
| TAL Education Group ADR* (Diversified Consumer Services) | | | 7,256 | | | | 567,202 | |
| Tencent Holdings Ltd. (Interactive Media & Services) | | | 56,400 | | | | 3,886,092 | |
| Tencent Music Entertainment Group ADR* (Entertainment) | | | 39,558 | | | | 638,466 | |
| Titan Co. Ltd.* (Textiles, Apparel & Luxury Goods) | | | 48,077 | | | | 670,472 | |
| Tonghua Dongbao Pharmaceutical Co. Ltd. (Pharmaceuticals) | | | 416,531 | | | | 818,202 | |
| Tongwei Co., Ltd., Class A (Food Products) | | | 275,869 | | | | 1,079,049 | |
| Universal Robina Corp. (Food Products) | | | 271,220 | | | | 675,649 | |
| Vietnam Technological & Commercial Joint Stock Bank* (Banks) | | | 803,880 | | | | 629,549 | |
| Vipshop Holdings Ltd. ADR* (Internet & Direct Marketing Retail) | | | 31,065 | | | | 707,350 | |
| Wal-Mart de Mexico Sab de CV (Food & Staples Retailing) | | | 260,500 | | | | 613,266 | |
| Yandex NV, Class A* (Interactive Media & Services) | | | 12,080 | | | | 695,083 | |
| TOTAL COMMON STOCKS (Cost $50,877,370) | | | | | | | 55,348,203 | |
| TOTAL INVESTMENTS (Cost $50,877,370) — 98.0% | | | | | | | 55,348,203 | |
| Other Net Assets (Liabilities) — 2.0% | | | | | | | 1,119,701 | |
| NET ASSETS — 100.0% | | | | | | $ | 56,467,904 | |
The Emerging Markets Fund invested in the following industries as of July 31, 2020:
The Emerging Markets Fund invested in securities with exposure to the following countries as of July 31, 2020:
| | | Shares | | | Value | |
| Common Stocks (95.0%) | | | | | | | | |
| AL Rajhi Bank (Banks) | | | 645,361 | | | $ | 10,135,659 | |
| Alibaba Group Holding Ltd.* (Internet & Direct Marketing Retail) | | | 2,055,100 | | | | 65,232,009 | |
| Alibaba Health Information Technology Ltd.* (Health Care Technology) | | | 9,068,000 | | | | 25,039,058 | |
| Apollo Hospitals Enterprise Ltd. (Health Care Providers & Services) | | | 1,295,404 | | | | 28,998,209 | |
| Asian Paints Ltd. (Chemicals) | | | 801,738 | | | | 18,385,610 | |
| Ayala Land, Inc. (Real Estate Management & Development) | | | 16,466,105 | | | | 11,159,712 | |
| Azul SA ADR* (Airlines) | | | 383,850 | | | | 4,429,629 | |
| Banco BTG Pactual SA (Capital Markets) | | | 469,500 | | | | 7,810,598 | |
| Britannia Industries Ltd. (Food Products) | | | 413,033 | | | | 21,111,158 | |
| CD Projekt SA* (Entertainment) | | | 53,600 | | | | 5,756,204 | |
| China International Travel Service Corp. Ltd., Class A (Hotels, Restaurants & Leisure) | | | 1,003,797 | | | | 34,948,445 | |
| China Merchants Bank Co. Ltd. (Banks) | | | 4,645,500 | | | | 21,668,730 | |
| China Overseas Land & Investment Ltd. (Real Estate Management & Development) | | | 6,132,500 | | | | 18,674,211 | |
| Clicks Group Ltd. (Food & Staples Retailing) | | | 355,300 | | | | 4,746,774 | |
| CP All Public Co. Ltd. (Food & Staples Retailing) | | | 4,714,300 | | | | 10,319,576 | |
| Credicorp Ltd. (Banks) | | | 41,663 | | | | 5,298,284 | |
| Crompton Greaves Consumer Electricals* (Household Durables) | | | 527,278 | | | | 1,720,530 | |
| Detsky Mir PJSC (Specialty Retail) | | | 4,849,925 | | | | 7,642,310 | |
| FirstRand Ltd. (Diversified Financial Services) | | | 1,726,109 | | | | 3,921,735 | |
| Foshan Haitian Flavouring & Food Co. Ltd., A Shares (Food Products) | | | 863,491 | | | | 18,567,624 | |
| Galaxy Entertainment Group Ltd. (Hotels, Restaurants & Leisure) | | | 4,148,000 | | | | 28,259,557 | |
| Grupo Financiero Banorte Sab de CV* (Banks) | | | 2,026,000 | | | | 7,258,186 | |
| Haidilao International Holding Ltd. (Hotels, Restaurants & Leisure) | | | 2,809,000 | | | | 12,921,233 | |
| Halyk Savings Bank of Kazakhstan JSC GDR (Banks) | | | 393,500 | | | | 4,367,850 | |
| HDFC Bank Ltd.* (Banks) | | | 2,168,285 | | | | 29,935,565 | |
| Hindustan Unilever Ltd. (Household Products) | | | 654,388 | | | | 19,331,378 | |
| Jiangsu Hengrui Medicine Co. Ltd., Class A (Pharmaceuticals) | | | 1,595,452 | | | | 21,574,434 | |
| KAZ Minerals PLC (Metals & Mining) | | | 1,176,441 | | | | 8,323,744 | |
| LG Household & Health Care Ltd. (Personal Products) | | | 18,756 | | | | 21,587,035 | |
| Li-Ning Co. Ltd. (Textiles, Apparel & Luxury Goods) | | | 6,679,000 | | | | 21,501,794 | |
| Lojas Renner SA (Multiline Retail) | | | 1,178,540 | | | | 9,280,003 | |
| MercadoLibre, Inc.* (Internet & Direct Marketing Retail) | | | 10,285 | | | | 11,566,717 | |
| Mr. Price Group Ltd. (Specialty Retail) | | | 537,947 | | | | 3,988,746 | |
| Nestle India Ltd. (Food Products) | | | 90,742 | | | | 20,041,540 | |
| New Oriental Education & Technology Group, Inc. ADR* (Diversified Consumer Services) | | | 224,795 | | | | 31,516,259 | |
| Ping An Healthcare & Technology Co. Ltd.* (Health Care Technology) | | | 1,299,700 | | | | 22,203,621 | |
| Ping An Insurance (Group) Co. of China Ltd., H Shares (Insurance) | | | 2,236,000 | | | | 23,686,869 | |
| Prosus NV* (Internet & Direct Marketing Retail) | | | 155,134 | | | | 15,001,062 | |
| PT Bank Central Asia TBK (Banks) | | | 10,722,800 | | | | 23,024,870 | |
| Raia Drogasil SA (Food & Staples Retailing) | | | 391,400 | | | | 9,359,891 | |
| Rumo SA* (Road & Rail) | | | 2,599,111 | | | | 11,147,305 | |
| Sberbank of Russia PJSC ADR* (Banks) | | | 718,342 | | | | 8,559,045 | |
| Shanghai International Airport Co. Ltd., Class A (Transportation Infrastructure) | | | 2,571,018 | | | | 25,023,175 | |
| Suzano SA* (Paper & Forest Products) | | | 1,200,600 | | | | 9,723,023 | |
| TAL Education Group ADR* (Diversified Consumer Services) | | | 84,478 | | | | 6,603,645 | |
| TCS Group Holdings PLC GDR (Banks) | | | 401,549 | | | | 10,098,957 | |
| Tencent Holdings Ltd. (Interactive Media & Services) | | | 659,300 | | | | 45,427,311 | |
| Vietnam Dairy Products JSC (Food Products) | | | 1,082,136 | | | | 4,996,054 | |
| Vipshop Holdings Ltd. ADR* (Internet & Direct Marketing Retail) | | | 90,180 | | | | 2,053,399 | |
| Wal-Mart de Mexico Sab de CV (Food & Staples Retailing) | | | 4,067,200 | | | | 9,574,958 | |
| Yandex NV, Class A* (Interactive Media & Services) | | | 214,501 | | | | 12,342,387 | |
| TOTAL COMMON STOCKS (Cost $685,294,320) | | | | | | | 815,845,678 | |
| Foreign Bond (0.0%)NM | | | | | | | | |
| India (0.0%)NM | | | | | | | | |
| Britannia Industries Ltd., 8.00%, 8/28/22 | | | 11,930,100 | | | | 166,002 | |
| TOTAL FOREIGN BOND (Cost $166,146) | | | | | | | 166,002 | |
| TOTAL INVESTMENTS (Cost $685,460,466) — 95.0% | | | | | | | 816,011,680 | |
| Other Net Assets (Liabilities) — 5.0% | | | | | | | 42,564,544 | |
| NET ASSETS — 100.0% | | | | | | $ | 858,576,224 | |
The Emerging Markets Great Consumer Fund invested in the following industries as of July 31, 2020:
The Emerging Markets Great Consumer Fund invested in securities with exposure to the following countries as of July 31, 2020:
