Domestic Equity Portfolio
SCHEDULE OF INVESTMENTS
September 30, 2022 (unaudited)
Common Stocks (98.6%) | Shares/ Par + | Value $ (000’s) | ||||||
Communication Services (8.1%) |
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Comcast Corp. - Class A | 808,411 | 23,711 | ||||||
Verizon Communications, Inc. | 674,100 | 25,595 | ||||||
The Walt Disney Co. * | 300,636 | 28,359 | ||||||
Total |
| 77,665 | ||||||
Consumer Discretionary (9.4%) |
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Dollar General Corp. | 132,940 | 31,887 | ||||||
Dollar Tree, Inc. * | 210,300 | 28,622 | ||||||
The TJX Cos., Inc. | 476,100 | 29,575 | ||||||
Total |
| 90,084 | ||||||
Consumer Staples (6.6%) |
| |||||||
Archer-Daniels-Midland Co. | 388,900 | 31,287 | ||||||
Conagra Brands, Inc. | 968,233 | 31,593 | ||||||
Total |
| 62,880 | ||||||
Energy (3.5%) |
| |||||||
ConocoPhillips | 330,700 | 33,844 | ||||||
Total |
| 33,844 | ||||||
Financials (14.5%) |
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American International Group, Inc. | 599,500 | 28,464 | ||||||
Discover Financial Services | 293,013 | 26,641 | ||||||
MetLife, Inc. | 488,532 | 29,693 | ||||||
Truist Financial Corp. | 635,400 | 27,665 | ||||||
U.S. Bancorp | 643,300 | 25,938 | ||||||
Total |
| 138,401 |
Common Stocks (98.6%) | Shares/ Par + | Value $ (000’s) | ||||||
Health Care (18.6%) |
| |||||||
Baxter International, Inc. | 501,400 | 27,006 | ||||||
Cigna Corp. | 110,003 | 30,523 | ||||||
CVS Health Corp. | 335,400 | 31,987 | ||||||
Hologic, Inc. * | 443,788 | 28,633 | ||||||
Johnson & Johnson | 180,700 | 29,519 | ||||||
Merck & Co., Inc. | 350,700 | 30,202 | ||||||
Total |
| 177,870 | ||||||
Industrials (12.3%) |
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Dover Corp. | 244,842 | 28,544 | ||||||
Honeywell International, Inc. | 172,660 | 28,829 | ||||||
Northrop Grumman Corp. | 68,200 | 32,076 | ||||||
Raytheon Technologies Corp. | 342,979 | 28,076 | ||||||
Total |
| 117,525 | ||||||
Information Technology (17.0%) |
| |||||||
Broadcom, Inc. | 58,800 | 26,108 | ||||||
Cisco Systems, Inc. | 681,800 | 27,272 | ||||||
Cognizant Technology Solutions Corp. - Class A | 432,918 | 24,867 | ||||||
Fidelity National Information Services, Inc. | 340,127 | 25,703 | ||||||
Motorola Solutions, Inc. | 134,900 | 30,214 | ||||||
Oracle Corp. | 455,600 | 27,823 | ||||||
Total |
| 161,987 |
Common Stocks (98.6%) | Shares/ Par + | Value $ (000’s) | ||||||
Materials (2.8%) |
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DuPont de Nemours, Inc. | 534,484 | 26,938 | ||||||
Total |
| 26,938 | ||||||
Real Estate (2.9%) |
| |||||||
Equity Residential | 412,295 | 27,715 | ||||||
Total |
| 27,715 | ||||||
Utilities (2.9%) |
| |||||||
Edison International | 485,700 | 27,481 | ||||||
Total |
| 27,481 | ||||||
Total Common Stocks |
| 942,390 | ||||||
Short-Term Investments (1.2%) |
| |||||||
Money Market Funds (1.2%) |
| |||||||
State Street Institutional U.S. Government Money Market Fund - Premier Class 2.940% # | 11,248,348 | 11,248 | ||||||
Total |
| 11,248 | ||||||
Total Short-Term Investments |
| 11,248 | ||||||
Total Investments (99.8%) |
| 953,638 | ||||||
Other Assets, Less |
| 1,478 | ||||||
Net Assets (100.0%) |
| 955,116 |
+ | All par is stated in U.S. Dollar unless otherwise noted. |
* | Non income producing |
# | 7-Day yield as of 9/30/2022. |
@ | At September 30, 2022, the aggregate cost of investments, including derivatives, for federal tax purposes (in thousands) was $856,449 and the net unrealized appreciation of investments based on that cost was $97,189 which is comprised of $183,198 aggregate gross unrealized appreciation and $86,009 aggregate gross unrealized depreciation. Because tax adjustments are calculated annually, these amounts do not reflect tax adjustments. For the previous fiscal year’s federal income tax information, please refer to the Notes to the Financial Statements section in the Portfolio’s most recent annual report. |
Domestic Equity Portfolio
The Fair Value Measurements and Disclosures Topic of the FASB Accounting Standards Codification defines fair value as the price that a Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. It establishes and requires disclosure of a fair value hierarchy, separately for each major category of asset and liability, which segregates fair value measurements into levels. A summary of the fair value hierarchy is described below:
Level 1 - fair value is determined by unadjusted quoted prices in active markets for identical securities or derivatives
Level 2 - fair value is determined by other significant observable inputs
Level 3 - fair value is determined by significant unobservable inputs
The categorization of a value determined for a financial instrument within the hierarchy is based upon the pricing transparency of the instrument and does not necessarily correspond to the Portfolio’s perceived risk of that instrument.
The following is a summary of the inputs used in valuing the Portfolio’s Investments at September 30, 2022.
Valuation Inputs | ||||||||||||||||
| ||||||||||||||||
Description | Level 1 - Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | |||||||||||||
(Amounts in thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Common Stocks | $ | 942,390 | $ | — | $ | — | ||||||||||
Short-Term Investments | 11,248 | — | — | |||||||||||||
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Total Assets: | $ | 953,638 | $ | — | $ | — | ||||||||||
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Abbreviations
Abbreviations that may be used in the preceding statements
ADR | American Depositary Receipt | |
AFC | Available Funds Cap security - Security accrues interest at an assumed or uncapped rate. If the interest rate on the underlying loans is lower than the uncapped rate, then the security will pay at the lower rate. | |
CSTR | Collateral Strip Rate security - interest is based on the weighted net interest rate of the collateral. | |
EXE | Security receives collateral principal and interest paid which exceeds the amount of principal and income obligated to all bonds in the deal. | |
IO | Interest Only Security | |
PO | Principal Only Security | |
GDR | Global Depositary Receipt | |
GO | General Obligation | |
RB | Revenue Bond | |
CPURNSA | U.S. Consumer Price Index - All Urban Consumers - Not Seasonally Adjusted | |
LIBOR | London Interbank Offered Rate | |
SOFR | Secured Overnight Financing Rate | |
ICE | Intercontinental Exchange | |
SONIO | Sterling Overnight Interbank Average Rate | |
DAC | Designated Activity Company | |
TBA | To Be Announced | |
OIS | Overnight Index Swaps | |
DIFC | Dubai International Financial Centre | |
EURIBOR | Euro Interbank Offered Rate | |
SDR | Swedish Depository Receipt | |
ETF | Exchange Traded Fund | |
Currency Abbreviations | ||
ARS | Argentine Peso | |
AUD | Australian Dollar | |
BRL | Brazilian Real | |
CAD | Canadian Dollar | |
CHF | Swiss Franc | |
CNH | Chinese Yuan Renminbi - Offshore | |
CNY | Chinese Yuan Renminbi | |
DKK | Danish Krone | |
EUR | Euro | |
GBP | British Pound | |
HKD | Hong Kong Dollar | |
IDR | Indonesian Rupiah | |
INR | Indian Rupee | |
JPY | Japanese Yen | |
KES | Kenyan Shilling | |
KRW | South Korean Won | |
MXN | Mexican New Peso | |
NOK | Norwegian Krone | |
NZD | New Zealand Dollar | |
PHP | Philippines Peso | |
RUB | Russian Ruble | |
SEK | Swedish Krona | |
THB | Thai Baht | |
TWD | Taiwan Dollar | |
USD | United States Dollar | |
ZAR | South African Rand |