Bmo Funds NPORT-P BMO Balanced Allocation Fund (Nov 2021 report)

Conservative Allocation Fund

SCHEDULE OF INVESTMENTS

As of November 30, 2021

(Unaudited)

Description	Shares		Value
Exchange Traded Funds — 5.5%
Large-Cap Funds — 3.6%
Vanguard S&P 500 ETF		1,654	$	693,125
Fixed Income Funds — 1.9%
Vanguard Long-Term Treasury ETF		4,101		374,955
Total Exchange Traded Funds (identified cost $830,901)				1,068,080
Mutual Funds — 87.2%
Large-Cap Funds — 7.7%
BMO Dividend Income Fund — Institutional Class (1)		7,474		136,548
BMO Large-Cap Growth Fund — Class R6 (1)		10,228		278,928
BMO Large-Cap Value Fund — Class R6 (1)		16,844		309,926
BMO Low Volatility Equity Fund — Institutional Class (1)		13,993		240,539
Dodge & Cox Stock Fund — Retail Class		1,022		241,866
Harbor Capital Appreciation Fund — Retirement Class		1,239		153,502
T. Rowe Price Growth Stock Fund — Institutional Class		1,083		127,377
Total Large-Cap Funds				1,488,686
Mid-Cap Funds — 2.1%
John Hancock Disciplined Value Mid Cap Fund — Class R6		5,540		153,636
T. Rowe Price Mid-Cap Growth Fund — Institutional Class		1,232		156,017
Vanguard Mid-Cap Index Fund — Institutional Class		1,393		93,780
Total Mid-Cap Funds				403,433
Small-Cap Funds — 1.3%
BMO Small-Cap Growth Fund — Institutional Class (1)		4,250		101,287
BMO Small-Cap Value Fund — Class R6 (1)		7,155		117,838
Goldman Sachs Small Cap Value Fund — Institutional Class		607		40,636
Total Small-Cap Funds				259,761
International Funds — 5.9%
BMO Disciplined International Equity Fund — Institutional Class (1)		11,239		128,464
BMO LGM Emerging Markets Equity Fund — Institutional Class (1)		15,712		263,657
BMO Pyrford International Stock Fund — Class R6 (1)		12,895		185,305
Dodge & Cox International Stock Fund — Retail Class		2,760		127,406
MFS International Value Fund — Class R6		3,416		188,066
T. Rowe Price International Discovery Fund — Institutional Class		796		75,990
Vanguard Emerging Markets Stock Index Fund — Admiral Class		4,147		168,685
Total International Funds				1,137,573
Fixed Income Funds — 63.2%
BMO Core Plus Bond Fund — Institutional Class (1)		318,387		3,874,766
BMO Corporate Income Fund — Institutional Class (1)		29,662		418,536
Federated Hermes Institutional High-Yield Bond Fund — Class R6		101,140		990,162
Metropolitan West Total Return Bond Fund — Plan Class		365,679		3,755,519
TCW Emerging Markets Income Fund — Plan Class		176,636		1,342,431
Vanguard Total Bond Market Index Fund — Institutional Class		165,293		1,862,857
Total Fixed Income Funds				12,244,271
Alternative Funds — 7.0%
BNY Mellon Global Real Return Fund — Class Y		78,294		1,355,270
Total Mutual Funds (identified cost $13,880,651)				16,888,994
Short-Term Investments — 115.4%

Mutual Funds — 115.4%
BMO Government Money Market Fund — Premier Class, 0.010% (1)	22,335,329		22,335,329
Total Short-Term Investments — 115.4% (identified cost $22,335,329)			22,335,329
Total Investments — 208.1% (identified cost $37,046,881)			40,292,403
Other Assets and Liabilities — (108.1)%			(20,929,318	)
Total Net Assets — 100.0%		$	19,363,085

Moderate Allocation Fund

SCHEDULE OF INVESTMENTS

As of November 30, 2021

(Unaudited)

Description	Shares		Value
Exchange Traded Funds — 9.0%
Large-Cap Funds — 8.2%
Vanguard S&P 500 ETF		11,222	$	4,702,691
Fixed Income Funds — 0.8%
Vanguard Long-Term Treasury ETF		5,051		461,813
Total Exchange Traded Funds (identified cost $3,577,736)				5,164,504
Mutual Funds — 87.4%
Large-Cap Funds — 15.2%
BMO Dividend Income Fund — Institutional Class (1)		45,242		826,564
BMO Large-Cap Growth Fund — Class R6 (1)		58,772		1,602,727
BMO Large-Cap Value Fund — Class R6 (1)		97,902		1,801,402
BMO Low Volatility Equity Fund — Institutional Class (1)		81,041		1,393,092
Dodge & Cox Stock Fund — Retail Class		5,916		1,400,673
Harbor Capital Appreciation Fund — Retirement Class		7,177		889,286
T. Rowe Price Growth Stock Fund — Institutional Class		6,536		768,624
Total Large-Cap Funds				8,682,368
Mid-Cap Funds — 3.3%
John Hancock Disciplined Value Mid Cap Fund — Class R6		24,125		668,986
T. Rowe Price Mid-Cap Growth Fund — Institutional Class		5,341		676,560
Vanguard Mid-Cap Index Fund — Institutional Class		8,358		562,642
Total Mid-Cap Funds				1,908,188
Small-Cap Funds — 2.8%
BMO Small-Cap Growth Fund — Institutional Class (1)		24,840		591,936
BMO Small-Cap Value Fund — Class R6 (1)		46,163		760,306
Goldman Sachs Small Cap Value Fund — Institutional Class		3,739		250,448
Total Small-Cap Funds				1,602,690
International Funds — 11.7%
BMO Disciplined International Equity Fund — Institutional Class (1)		70,973		811,224
BMO LGM Emerging Markets Equity Fund — Institutional Class (1)		82,489		1,384,170
BMO Pyrford International Stock Fund — Class R6 (1)		81,289		1,168,117
Dodge & Cox International Stock Fund — Retail Class		17,483		807,002
MFS International Value Fund — Class R6		21,424		1,179,585
T. Rowe Price International Discovery Fund — Institutional Class		5,008		478,122
Vanguard Emerging Markets Stock Index Fund — Admiral Class		20,425		830,882
Total International Funds				6,659,102
Fixed Income Funds — 49.1%
BMO Core Plus Bond Fund — Institutional Class (1)		827,353		10,068,881
BMO Corporate Income Fund — Institutional Class (1)		123,215		1,738,568
Federated Hermes Institutional High-Yield Bond Fund — Class R6		229,847		2,250,205
Metropolitan West Total Return Bond Fund — Plan Class		898,142		9,223,918
TCW Emerging Markets Income Fund — Plan Class		399,234		3,034,181
Vanguard Total Bond Market Index Fund — Institutional Class		155,459		1,752,017
Total Fixed Income Funds				28,067,770
Alternative Funds — 5.3%
BNY Mellon Global Real Return Fund — Class Y		173,120		2,996,701
Total Mutual Funds (identified cost $38,819,739)				49,916,819
Short-Term Investments — 46.1%

Mutual Funds — 46.1%
BMO Government Money Market Fund — Premier Class, 0.010% (1)	26,325,816		26,325,816
Total Short-Term Investments — 46.1% (identified cost $26,325,816)			26,325,816
Total Investments — 142.5% (identified cost $68,723,291)			81,407,139
Other Assets and Liabilities — (42.5)%			(24,294,386	)
Total Net Assets — 100.0%		$	57,112,753

Balanced Allocation Fund

SCHEDULE OF INVESTMENTS

As of November 30, 2021

(Unaudited)

Description	Shares		Value
Exchange Traded Funds — 8.4%
Large-Cap Funds — 7.9%
Vanguard S&P 500 ETF		35,401	$	14,835,143
Fixed Income Funds — 0.5%
Vanguard Long-Term Treasury ETF		11,080		1,013,044
Total Exchange Traded Funds (identified cost $10,725,953)				15,848,187
Mutual Funds — 88.8%
Large-Cap Funds — 28.2%
BMO Dividend Income Fund — Institutional Class (1)		222,518		4,065,402
BMO Large-Cap Growth Fund — Class R6 (1)		291,176		7,940,377
BMO Large-Cap Value Fund — Class R6 (1)		486,654		8,954,433
BMO Low Volatility Equity Fund — Institutional Class (1)		400,699		6,888,014
Dodge & Cox Stock Fund — Retail Class		29,320		6,942,210
Harbor Capital Appreciation Fund — Retirement Class		35,559		4,406,156
T. Rowe Price Growth Stock Fund — Institutional Class		31,878		3,748,530
Vanguard Institutional Index Fund — Institutional Class		24,508		9,799,416
Total Large-Cap Funds				52,744,538
Mid-Cap Funds — 4.5%
John Hancock Disciplined Value Mid Cap Fund — Class R6		102,113		2,831,587
T. Rowe Price Mid-Cap Growth Fund — Institutional Class		22,606		2,863,252
Vanguard Mid-Cap Index Fund — Institutional Class		41,201		2,773,647
Total Mid-Cap Funds				8,468,486
Small-Cap Funds — 3.8%
BMO Small-Cap Growth Fund — Institutional Class (1)		121,893		2,904,708
BMO Small-Cap Value Fund — Class R6 (1)		185,711		3,058,664
Goldman Sachs Small Cap Value Fund — Institutional Class		18,306		1,226,133
Total Small-Cap Funds				7,189,505
International Funds — 17.2%
BMO Disciplined International Equity Fund — Institutional Class (1)		337,926		3,862,497
BMO LGM Emerging Markets Equity Fund — Institutional Class (1)		359,353		6,029,934
BMO Pyrford International Stock Fund — Class R6 (1)		389,054		5,590,708
Dodge & Cox International Stock Fund — Retail Class		83,271		3,843,806
MFS International Value Fund — Class R6		102,464		5,641,667
T. Rowe Price International Discovery Fund — Institutional Class		24,091		2,300,012
Vanguard Developed Markets Index Fund — Admiral Class		69,120		1,101,079
Vanguard Emerging Markets Stock Index Fund — Admiral Class		91,668		3,729,035
Total International Funds				32,098,738
Fixed Income Funds — 31.2%
BMO Core Plus Bond Fund — Institutional Class (1)		1,492,790		18,167,257
BMO Corporate Income Fund — Institutional Class (1)		526,558		7,429,727
Federated Hermes Institutional High-Yield Bond Fund — Class R6		379,495		3,715,257
Metropolitan West Total Return Bond Fund — Plan Class		1,751,833		17,991,319
TCW Emerging Markets Income Fund — Plan Class		959,908		7,295,302
Vanguard Total Bond Market Index Fund — Institutional Class		332,275		3,744,742
Total Fixed Income Funds				58,343,604
Alternative Funds — 3.9%
BNY Mellon Global Real Return Fund — Class Y		424,499		7,348,079

Total Mutual Funds (identified cost $109,491,802)			166,192,950
Short-Term Investments — 33.3%
Mutual Funds — 33.3%
BMO Government Money Market Fund — Premier Class, 0.010% (1)	62,289,228		62,289,228
Total Short-Term Investments — 33.3% (identified cost $62,289,228)			62,289,228
Total Investments — 130.5% (identified cost $182,506,983)			244,330,365
Other Assets and Liabilities — (30.5)%			(57,141,464	)
Total Net Assets — 100.0%		$	187,188,901

Growth Allocation Fund

SCHEDULE OF INVESTMENTS

As of November 30, 2021

(Unaudited)

Description	Shares		Value
Exchange Traded Funds — 7.7%
Large-Cap Funds — 6.5%
Vanguard S&P 500 ETF		8,105	$	3,396,481
Fixed Income Funds — 1.2%
Vanguard Long-Term Treasury ETF		6,881		629,130
Total Exchange Traded Funds (identified cost $2,917,131)				4,025,611
Mutual Funds — 84.4%
Large-Cap Funds — 38.6%
BMO Dividend Income Fund — Institutional Class (1)		77,928		1,423,742
BMO Large-Cap Growth Fund — Class R6 (1)		102,853		2,804,802
BMO Large-Cap Value Fund — Class R6 (1)		168,493		3,100,263
BMO Low Volatility Equity Fund — Institutional Class (1)		139,637		2,400,364
Dodge & Cox Stock Fund — Retail Class		10,218		2,419,385
Harbor Capital Appreciation Fund — Retirement Class		12,601		1,561,390
T. Rowe Price Growth Stock Fund — Institutional Class		11,378		1,337,944
Vanguard Institutional Index Fund — Institutional Class		12,508		5,001,487
Total Large-Cap Funds				20,049,377
Mid-Cap Funds — 5.9%
John Hancock Disciplined Value Mid Cap Fund — Class R6		37,298		1,034,277
T. Rowe Price Mid-Cap Growth Fund — Institutional Class		8,315		1,053,155
Vanguard Mid-Cap Index Fund — Institutional Class		14,553		979,687
Total Mid-Cap Funds				3,067,119
Small-Cap Funds — 5.0%
BMO Small-Cap Growth Fund — Institutional Class (1)		42,262		1,007,099
BMO Small-Cap Value Fund — Class R6 (1)		71,253		1,173,537
Goldman Sachs Small Cap Value Fund — Institutional Class		6,388		427,904
Total Small-Cap Funds				2,608,540
International Funds — 21.5%
BMO Disciplined International Equity Fund — Institutional Class (1)		117,747		1,345,844
BMO LGM Emerging Markets Equity Fund — Institutional Class (1)		126,733		2,126,575
BMO Pyrford International Stock Fund — Class R6 (1)		127,730		1,835,489
Dodge & Cox International Stock Fund — Retail Class		28,882		1,333,184
MFS International Value Fund — Class R6		35,774		1,969,709
T. Rowe Price International Discovery Fund — Institutional Class		8,336		795,841
Vanguard Developed Markets Index Fund — Admiral Class		24,144		384,613
Vanguard Emerging Markets Stock Index Fund — Admiral Class		33,265		1,353,214
Total International Funds				11,144,469
Fixed Income Funds — 11.0%
BMO Core Plus Bond Fund — Institutional Class (1)		97,298		1,184,114
BMO Corporate Income Fund — Institutional Class (1)		171,673		2,422,298
Federated Hermes Institutional High-Yield Bond Fund — Class R6		49,739		486,948
Metropolitan West Total Return Bond Fund — Plan Class		74,927		769,505
TCW Emerging Markets Income Fund — Plan Class		113,639		863,655
Total Fixed Income Funds				5,726,520
Alternative Funds — 2.4%
BNY Mellon Global Real Return Fund — Class Y		72,368		1,252,696
Total Mutual Funds (identified cost $24,047,313)				43,848,721
Short-Term Investments — 145.2%

Mutual Funds — 145.2%
BMO Government Money Market Fund — Premier Class, 0.010% (1)	75,495,736		75,495,736
Total Short-Term Investments — 145.2% (identified cost $75,495,736)			75,495,736
Total Investments — 237.3% (identified cost $102,460,180)			123,370,068
Other Assets and Liabilities — (137.3)%			(71,386,887	)
Total Net Assets — 100.0%		$	51,983,181

Aggressive Allocation Fund

SCHEDULE OF INVESTMENTS

As of November 30, 2021

(Unaudited)

Description	Shares		Value
Exchange Traded Funds — 9.4%
Large-Cap Funds — 9.4%
Vanguard S&P 500 ETF (identified cost $7,355,047)		25,036	$	10,491,586
Mutual Funds — 85.8%
Large-Cap Funds — 46.6%
BMO Dividend Income Fund — Institutional Class (1)		233,467		4,265,452
BMO Large-Cap Growth Fund — Class R6 (1)		280,130		7,639,143
BMO Large-Cap Value Fund — Class R6 (1)		460,232		8,468,274
BMO Low Volatility Equity Fund — Institutional Class (1)		371,863		6,392,325
Dodge & Cox Stock Fund — Retail Class		26,936		6,377,602
Harbor Capital Appreciation Fund — Retirement Class		35,293		4,373,148
T. Rowe Price Growth Stock Fund — Institutional Class		27,783		3,267,011
Vanguard Institutional Index Fund — Institutional Class		27,929		11,167,269
Total Large-Cap Funds				51,950,224
Mid-Cap Funds — 5.8%
John Hancock Disciplined Value Mid Cap Fund — Class R6		76,504		2,121,469
T. Rowe Price Mid-Cap Growth Fund — Institutional Class		16,967		2,149,002
Vanguard Mid-Cap Index Fund — Institutional Class		31,787		2,139,865
Total Mid-Cap Funds				6,410,336
Small-Cap Funds — 6.6%
BMO Small-Cap Growth Fund — Institutional Class (1)		133,191		3,173,946
BMO Small-Cap Value Fund — Class R6 (1)		190,236		3,133,184
Goldman Sachs Small Cap Value Fund — Institutional Class		15,696		1,051,337
Total Small-Cap Funds				7,358,467
International Funds — 26.8%
BMO Disciplined International Equity Fund — Institutional Class (1)		282,013		3,223,412
BMO LGM Emerging Markets Equity Fund — Institutional Class (1)		372,903		6,257,307
BMO Pyrford International Stock Fund — Class R6 (1)		372,202		5,348,544
Dodge & Cox International Stock Fund — Retail Class		69,394		3,203,227
MFS International Value Fund — Class R6		98,262		5,410,308
T. Rowe Price International Discovery Fund — Institutional Class		22,510		2,149,005
Vanguard Developed Markets Index Fund — Admiral Class		67,257		1,071,409
Vanguard Emerging Markets Stock Index Fund — Admiral Class		79,478		3,233,168
Total International Funds				29,896,380
Total Mutual Funds (identified cost $47,290,350)				95,615,407
Short-Term Investments — 71.1%
Mutual Funds — 71.1%
BMO Government Money Market Fund — Premier Class, 0.010% (1)		79,179,320		79,179,320
Total Short-Term Investments — 71.1% (identified cost $79,179,319)				79,179,320
Total Investments — 166.3% (identified cost $133,824,716)				185,286,313
Other Assets and Liabilities — (66.3)%				(73,885,875	)
Total Net Assets — 100.0%			$	111,400,438

Notes to Schedules of Investments (Unaudited)

The categories of investments are shown as a percentage of total net assets for each Fund as of November 30, 2021.

(1) Denotes an investment in an affiliated entity. Please refer to Note 3, Investments in Affiliated Issuers, in the Additional Information Associated with the Schedule of Investments.

ETF Exchange Traded Fund

Notes to Schedules of Investments (Unaudited)

Additional Information Associated with the Schedules of Investments (Unaudited)

1. Organization

BMO Funds, Inc. (the “Corporation”) is registered under the Investment Company Act of 1940 (the “Act”), as amended as an open-end management investment company. As of November 30, 2021, the Corporation consisted of 26 portfolios, including 5 target risk diversified portfolios within this quarterly report (individually referred to as the “Fund,” or collectively as the “Funds”), each with differing share class offerings as well as 21 other portfolios whose quarterly report is available under a separate cover. BMO Asset Management Corp. serves as the Funds’ investment adviser (the “Adviser”), a Delaware corporation headquartered in Chicago, Illinois that is a wholly-owned subsidiary of BMO Financial Corp.

Fund	Inception Date	Investment Objective
Conservative Allocation Fund	May 30, 2014	To provide total return primarily from income, secondarily from appreciation.
Moderate Allocation Fund	May 30, 2014	To provide total investment return from income and appreciation.
Balanced Allocation Fund	May 30, 2014	To provide total investment return from income and appreciation.
Growth Allocation Fund	May 30, 2014	To provide total investment return from income and appreciation.
Aggressive Allocation Fund	May 30, 2014	To provide total investment return primarily from appreciation, secondarily from income.

Each Fund seeks to achieve its investment objectives by investing in a mix (without limitation) of BMO Funds and unaffiliated mutual funds. The Funds are designed to provide investors with investment management, asset allocation, and ongoing reallocation over time. Each Fund is considered a “fund of funds” because it invests in other mutual funds. A fund of funds bears its own direct expenses in addition to bearing a proportionate share of expenses charged to the underlying funds in which it invests.

2. Fair Value Measurements Discussion and Disclosure

Investment Valuations—Investments in other open-end registered investment companies are valued at net asset value.

Securities or other assets for which market valuations are not readily available, or are deemed to be inaccurate, are valued at fair value as determined in good faith using methods approved by the Board of Directors (the “Directors”). The Directors have established a Pricing Committee, which is responsible for determinations of fair value, subject to the supervision of the Directors. In determining fair value, the Pricing Committee takes into account all information available and any factors it deems appropriate. Consequently, the price of securities used by a Fund to calculate its Net Asset Value (“NAV”) may differ from quoted or published prices for the same securities. Fair value pricing involves subjective judgments; it is possible that the fair value determined for a security is materially different than the value that would be realized upon the sale of that security and the differences may be material to the NAV of the Fund or the financial statements presented.

In valuing underlying fund investments, the Funds use the NAVs reported by the underlying funds. An underlying fund may need to fair value one or more of its investments, which may, in turn, require a Fund to do the same because of delays in obtaining the underlying fund’s NAV.

Fair Valuation Measurement defines fair value, establishes a framework for measuring fair value in accordance with GAAP, and requires disclosure about fair value measurements. It establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from sources independent of the reporting issuer (observable inputs), and (2) the reporting issuer’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). It also provides guidance on determining when a significant decrease occurs in the trade volume and/or frequency for an asset, when a transaction is not orderly, and how that information must be incorporated into fair value measurement.

Various inputs are used in determining the value of the Funds’ investments. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. These inputs are summarized in the three broad levels listed below:

Level 1 - quoted prices in active markets for identical securities. An active market for the security is a market in which transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Common and preferred stocks, options and futures contracts, and U.S. registered mutual funds are generally categorized as Level 1.

Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Fixed income securities, repurchase agreements and securities valued by an independent fair value pricing service are generally categorized as Level 2.

Level 3 - significant unobservable inputs, including management’s own assumptions in determining the fair value of investments.

For the period ended November 30, 2021, the Funds had no investments in private investment funds, and there were no investments excluded from the fair value hierarchy. It is the Funds’ policy to recognize transfers between category levels at the end of the period. For the period ended November 30, 2021, there were no transfers in and out of Level 1, Level 2 , and Level 3. The Funds did not hold any Level 2 or Level 3 securities as of November 30, 2021.

The following is a summary of the inputs used, as of November 30, 2021, in valuing the Funds’ assets:

	Conservative Allocation Fund
	Level 1		Level 2		Level 3		Total
Exchange Traded Funds	$	1,068,080	$	—	$	—	$	1,068,080
Mutual Funds		16,888,994		—		—		16,888,994
Short-Term Investments		22,335,329		—		—		22,335,329
Total	$	40,292,403	$	—	$	—	$	40,292,403

Notes to Schedules of Investments (Unaudited)

	Moderate Allocation Fund
	Level 1		Level 2		Level 3		Total
Exchange Traded Funds	$	5,164,504	$	—	$	—	$	5,164,504
Mutual Funds		49,916,819		—		—		49,916,819
Short-Term Investments		26,325,816		—		—		26,325,816
Total	$	81,407,139	$	—	$	—	$	81,407,139
	Balanced Allocation Fund
	Level 1		Level 2		Level 3		Total
Exchange Traded Funds	$	15,848,187	$	—	$	—	$	15,848,187
Mutual Funds		166,192,950		—		—		166,192,950
Short-Term Investments		62,289,228		—		—		62,289,228
Total	$	244,330,365	$	—	$	—	$	244,330,365
	Growth Allocation Fund
	Level 1		Level 2		Level 3		Total
Exchange Traded Funds	$	4,025,611	$	—	$	—	$	4,025,611
Mutual Funds		43,848,721		—		—		43,848,721
Short-Term Investments		75,495,736		—		—		75,495,736
Total	$	123,370,068	$	—	$	—	$	123,370,068
	Aggressive Allocation Fund
	Level 1		Level 2		Level 3		Total
Exchange Traded Funds	$	10,491,586	$	—	$	—	$	10,491,586
Mutual Funds		95,615,407		—		—		95,615,407
Short-Term Investments		79,179,320		—		—		79,179,320
Total	$	185,286,313	$	—	$	—	$	185,286,313

3. Investments in Affiliated Issuers

An affiliated issuer is an entity in which the Fund has ownership of at least 5% of the voting securities or any investment in the BMO Funds. Issuers that are affiliates of the Fund at period-end are noted in the Fund’s Schedule of Investments. Additional security purchases and the reduction of certain securities shares outstanding of existing portfolio holdings that were not considered affiliated in prior periods may result in the Funds owning in excess of 5% of the outstanding shares at period-end. The table below reflects transactions during the period with entities that are affiliates as of November 30, 2021. Please refer to the Schedule of Investments for which class each Fund’s underlying affiliated issuer represents.

Notes to Schedules of Investments (Unaudited)

Fund/Security Description	Value, Beginning of Period		Purchases		Sales Proceeds		Change In Unrealized Appreciation (Depreciation)			Net Realized Gain(Loss)			Value, End of Period		Dividends Credited to Income		Net Realized Gain on Capital Gain Distributions
Conservative Allocation Fund
Large-Cap Funds – 5.0%
BMO Low Volatility Equity Fund	$	553,751	$	3,108	$	309,113	$	(112,407	)	$	105,200		$	240,539	$	3,108	$	—
BMO Dividend Income Fund		321,873		1,980		185,907		(83,196	)		81,798			136,548		1,980		—
BMO Large-Cap Value Fund		732,689		3,424		409,428		(217,920	)		201,161			309,926		3,424		—
BMO Large-Cap Growth Fund		646,082		30,591		394,751		(174,765	)		171,771			278,928		—		—
														965,941
Small-Cap Funds – 1.1%
BMO Small-Cap Growth Fund		252,114		—		146,459		(86,686	)		82,318			101,287		—		—
BMO Small-Cap Value Fund		290,659		—		178,294		(28,735	)		34,208			117,838		—		—
														219,125
International Funds – 3.0%
BMO LGM Emerging Markets Equity Fund		598,854		—		301,728		(40,598	)		7,129			263,657		—		—
BMO Pyrford International Stock Fund		430,305		—		222,606		(77,553	)		55,159			185,305		—		—
BMO Disciplined International Equity Fund		297,790		—		156,873		(43,030	)		30,577			128,464		—		—
														577,426
Fixed Income Funds – 22.2%
BMO Core Plus Bond Fund		8,811,188		208,103		5,001,701		(661,678	)		518,854			3,874,766		56,951		—
BMO Corporate Income Fund		951,649		6,674		521,551		(19,267	)		1,031			418,536		6,862		—
														4,293,302
Short-Term Investment – 115.4%
Cash Sweep Investments in BMO
Government Money Market Fund — Premier Class, 0.010%		397,241		24,047,887		2,109,799		—			—			22,335,329		10		—
Totals	$	14,284,195	$	24,301,767	$	9,938,210	$	(1,545,835	)	$	1,289,206		$	28,391,123	$	72,335	$	—
Moderate Allocation Fund
Large-Cap Funds – 9.8%
BMO Low Volatility Equity Fund	$	2,134,965	$	11,982	$	716,007	$	(194,440	)	$	156,592		$	1,393,092	$	11,982	$	—
BMO Dividend Income Fund		1,244,534		7,655		412,809		(200,368	)		187,552			826,564		7,655		—
BMO Large-Cap Value Fund		2,722,191		12,721		853,958		(376,450	)		296,898			1,801,402		12,721		—
BMO Large-Cap Growth Fund		2,432,141		—		807,897		(441,609	)		420,092			1,602,727		—		—
														5,623,785
Small-Cap Funds – 2.4%
BMO Small-Cap Growth Fund		944,765		—		335,568		(224,671	)		207,410			591,936		—		—
BMO Small-Cap Value Fund		1,132,424		—		386,530		(49,821	)		64,233			760,306		—		—
														1,352,242
International Funds – 5.9%
BMO LGM Emerging Markets Equity Fund		1,966,100		92,672		554,168		(110,298	)		(10,136	)		1,384,170		—		—
BMO Pyrford International Stock Fund		1,779,209		—		512,973		(203,326	)		105,207			1,168,117		—		—
BMO Disciplined International Equity Fund		1,198,196		—		331,891		(112,042	)		56,961			811,224		—		—
														3,363,511
Fixed Income Funds – 20.7%
BMO Core Plus Bond Fund		14,890,062		566,079		5,157,857		(270,320	)		40,917			10,068,881		96,101		—
BMO Corporate Income Fund		2,596,145		18,509		828,387		(18,592	)		(29,107	)		1,738,568		19,002		—
														11,807,449
Short-Term Investment – 46.1%
Cash Sweep Investments in BMO
Government Money Market Fund — Premier Class, 0.010%		561,011		28,126,323		2,361,518		—			—			26,325,816		18		—
Totals	$	33,601,743	$	28,835,941	$	13,259,563	$	(2,201,937	)	$	1,496,619		$	48,472,803	$	147,479	$	—

Notes to Schedules of Investments (Unaudited)

Fund/Security Description	Value, Beginning of Period		Purchases		Sales Proceeds		Change In Unrealized Appreciation (Depreciation)			Net Realized Gain(Loss)			Value, End of Period		Dividends Credited to Income		Net Realized Gain on Capital Gain Distributions
Balanced Allocation Fund
Large-Cap Funds – 14.9%
BMO Low Volatility Equity Fund	$	9,488,105	$	368,862	$	2,790,054	$	(1,119,967	)	$	941,068		$	6,888,014	$	54,140	$	—
BMO Dividend Income Fund		5,869,364		36,100		1,786,329		(861,463	)		807,730			4,065,402		36,100		—
BMO Large-Cap Value Fund		12,576,637		58,770		3,301,319		(1,893,672	)		1,514,017			8,954,433		58,770		—
BMO Large-Cap Growth Fund		11,086,022		299,056		3,341,778		(1,630,307	)		1,527,384			7,940,377		—		—
														27,848,226
Small-Cap Funds – 3.2%
BMO Small-Cap Growth Fund		4,199,136		—		1,208,267		(844,471	)		758,310			2,904,708		—		—
BMO Small-Cap Value Fund		4,221,901		—		1,215,783		(154,313	)		206,859			3,058,664		—		—
														5,963,372
International Funds – 8.3%
BMO LGM Emerging Markets Equity Fund		7,767,634		411,738		1,648,352		(468,629	)		(32,457	)		6,029,934		—		—
BMO Pyrford International Stock Fund		7,708,926		—		1,687,193		(777,056	)		346,031			5,590,708		—		—
BMO Disciplined International Equity Fund		5,320,579		—		1,210,536		(467,317	)		219,771			3,862,497		—		—
														15,483,139
Fixed Income Funds – 13.7%
BMO Core Plus Bond Fund		24,491,541		1,075,650		7,017,004		(510,622	)		127,692			18,167,257		160,480		—
BMO Corporate Income Fund		10,130,350		72,278		2,589,977		(180,066	)		(2,858	)		7,429,727		74,217		—
														25,596,984
Short-Term Investment – 33.3%
Cash Sweep Investments in BMO
Government Money Market Fund — Premier Class, 0.010%		2,037,843		71,539,917		11,288,532		—			—			62,289,228		56		—
Totals	$	104,898,038	$	73,862,371	$	39,085,124		$  (8,907,883	)	$	6,413,547		$	137,180,949	$	383,763	$	—
Growth Allocation Fund
Large-Cap Funds – 18.7%
BMO Low Volatility Equity Fund	$	6,136,157	$	239,408	$	3,913,081	$	(1,298,689	)	$	1,236,569		$	2,400,364	$	34,438	$	—
BMO Dividend Income Fund		3,782,171		23,262		2,371,220		(1,096,482	)		1,086,011			1,423,742		23,262		—
BMO Large-Cap Value Fund		8,150,788		38,088		4,901,998		(1,928,971	)		1,742,356			3,100,263		38,088		—
BMO Large-Cap Growth Fund		7,266,447		225,748		4,665,797		(2,165,786	)		2,144,190			2,804,802		—		—
														9,729,171
Small-Cap Funds – 4.2%
BMO Small-Cap Growth Fund		2,623,937		—		1,561,519		(905,241	)		849,922			1,007,099		—		—
BMO Small-Cap Value Fund		3,029,620		—		1,907,584		(311,982	)		363,483			1,173,537		—		—
														2,180,636
International Funds – 10.2%
BMO LGM Emerging Markets Equity Fund		5,107,898		254,824		2,943,739		(488,963	)		196,555			2,126,575		—		—
BMO Pyrford International Stock Fund		4,777,116		—		2,692,665		(891,342	)		642,380			1,835,489		—		—
BMO Disciplined International Equity Fund		3,445,299		—		1,952,298		(447,230	)		300,073			1,345,844		—		—
														5,307,908
Fixed Income Funds – 6.9%
BMO Core Plus Bond Fund		3,056,786		19,642		1,841,546		(149,666	)		98,898			1,184,114		19,837		—
BMO Corporate Income Fund		6,264,448		44,247		3,764,054		(200,753	)		78,410			2,422,298		44,812		—
														3,606,412
Short-Term Investment – 145.2%
Cash Sweep Investments in BMO
Government Money Market Fund — Premier Class, 0.010%		1,409,064		77,675,046		3,588,374		—			—			75,495,736		28		—
Totals	$	55,049,731	$	78,520,265	$	36,103,875	$	(9,885,105	)	$	8,738,847		$	96,319,863	$	160,465	$	—

Notes to Schedules of Investments (Unaudited)

Fund/Security Description	Value, Beginning of Period		Purchases		Sales Proceeds		Change In Unrealized Appreciation (Depreciation)			Net Realized Gain(Loss)			Value, End of Period		Dividends Credited to Income		Net Realized Gain on Capital Gain Distributions
Aggressive Allocation Fund
Large-Cap Funds – 24.0%
BMO Low Volatility Equity Fund	$	11,679,044	$	65,547	$	5,166,060	$	(1,620,309	)	$	1,434,103		$	6,392,325	$	65,546	$	—
BMO Dividend Income Fund		7,725,233		47,515		3,447,632		(1,399,706	)		1,340,042			4,265,452		47,514		—
BMO Large-Cap Value Fund		15,191,350		70,988		6,380,463		(2,353,679	)		1,940,078			8,468,274		70,988		—
BMO Large-Cap Growth Fund		13,419,988		—		5,673,301		(2,615,637	)		2,508,093			7,639,143		—		—
														26,765,194
Small-Cap Funds – 5.7%
BMO Small-Cap Growth Fund		5,763,845		—		2,452,240		(1,022,975	)		885,316			3,173,946		—		—
BMO Small-Cap Value Fund		5,423,407		—		2,357,970		(309,864	)		377,611			3,133,184		—		—
														6,307,130
International Funds – 13.3%
BMO LGM Emerging Markets Equity Fund		10,880,158		—		3,987,996		(542,308	)		(92,547	)		6,257,307		—		—
BMO Pyrford International Stock Fund		9,083,827		—		3,241,183		(951,799	)		457,699			5,348,544		—		—
BMO Disciplined International Equity Fund		5,645,529		—		2,169,404		(556,566	)		303,853			3,223,412		—		—
														14,829,263
Short-Term Investment – 71.1%
Cash Sweep Investments in BMO
Government Money Market Fund — Premier Class, 0.010%		1,536,452		81,416,605		3,773,737		—			—			79,179,320		42		—
Totals	$	86,348,833	$	81,600,655	$	38,649,986		$  (11,372,843	)	$	9,154,248		$	127,080,907	$	184,090	$	—