12/31/13 - Guggenheim Investments

Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1%
Financials - 17.5%
CNO Financial Group, Inc.
NorthStar Realty Finance Corp.
Prosperity Bancshares, Inc.
FirstMerit Corp.
Financial Engines, Inc.
Highwoods Properties, Inc.
LaSalle Hotel Properties
Prospect Capital Corp.
Hancock Holding Co.
Stifel Financial Corp.*
First American Financial Corp.
RLJ Lodging Trust
Webster Financial Corp.
MGIC Investment Corp.*
Portfolio Recovery Associates, Inc.*
EPR Properties
Texas Capital Bancshares, Inc.*
MarketAxess Holdings, Inc.
Sunstone Hotel Investors, Inc.
Primerica, Inc.
Radian Group, Inc.
BancorpSouth, Inc.
Susquehanna Bancshares, Inc.
Geo Group, Inc.
UMB Financial Corp.
DiamondRock Hospitality Co.
Glacier Bancorp, Inc.
Umpqua Holdings Corp.
CubeSmart
Cathay General Bancorp
First Financial Bankshares, Inc.
DCT Industrial Trust, Inc.
RLI Corp.
Healthcare Realty Trust, Inc.
Sovran Self Storage, Inc.
Invesco Mortgage Capital, Inc.
American Realty Capital Properties, Inc.
Medical Properties Trust, Inc.
Apollo Investment Corp.
Evercore Partners, Inc. — Class A
FNB Corp.
Pebblebrook Hotel Trust
PrivateBancorp, Inc. — Class A
First Industrial Realty Trust, Inc.
IBERIABANK Corp.
Ryman Hospitality Properties, Inc.
Janus Capital Group, Inc.
Lexington Realty Trust
First Cash Financial Services, Inc.*
Chambers Street Properties
Trustmark Corp.
Platinum Underwriters Holdings Ltd.
Capitol Federal Financial, Inc.
Alexander & Baldwin, Inc.
WisdomTree Investments, Inc.*
MB Financial, Inc.
Western Alliance Bancorporation*
EastGroup Properties, Inc.
Bank of the Ozarks, Inc.
Cousins Properties, Inc.
Strategic Hotels & Resorts, Inc.*
Wintrust Financial Corp.
American Equity Investment Life Holding Co.
Potlatch Corp.
New Residential Investment Corp.
Home BancShares, Inc.
Greenhill & Company, Inc.
Home Loan Servicing Solutions Ltd.
PennyMac Mortgage Investment Trust
3,250
4,233
883
2,422
718
1,313
1,524
4,069
1,239
932
1,579
1,808
1,320
4,745
738
759
599
548
2,673
834
2,529
1,391
2,729
1,043
521
2,855
1,053
1,637
1,952
1,149
461
4,247
310
1,404
457
1,979
2,251
2,359
3,291
465
2,200
900
953
1,574
437
650
2,180
2,625
432
3,463
986
430
2,175
629
1,465
806
1,079
443
453
2,460
2,655
539
941
593
3,699
658
414
1,039
1,035
Value
$
57,493
56,935
55,972
53,840
49,886
47,491
47,030
45,654
45,446
44,660
44,527
43,970
41,157
40,047
38,996
37,311
37,257
36,645
35,818
35,787
35,708
35,358
35,039
33,605
33,489
32,975
31,369
31,332
31,115
30,713
30,574
30,282
30,187
29,919
29,783
29,052
28,947
28,827
27,908
27,798
27,764
27,684
27,570
27,466
27,465
27,157
26,967
26,801
26,714
26,492
26,464
26,351
26,338
26,248
25,945
25,865
25,745
25,663
25,635
25,338
25,090
24,859
24,824
24,752
24,709
24,576
23,987
23,865
23,764
National Health Investors, Inc.
First Financial Holdings, Inc.
PacWest Bancorp
Community Bank System, Inc.
Redwood Trust, Inc.
United Bankshares, Inc.1
CVB Financial Corp.
Old National Bancorp
Colony Financial, Inc.
Washington Real Estate Investment Trust
Symetra Financial Corp.
DuPont Fabros Technology, Inc.
Sun Communities, Inc.
Westamerica Bancorporation
Selective Insurance Group, Inc.
ARMOUR Residential REIT, Inc.
EverBank Financial Corp.
PS Business Parks, Inc.
Hilltop Holdings, Inc.*
International Bancshares Corp.
Virtus Investment Partners, Inc.*
Columbia Banking System, Inc.
PHH Corp.*
Northwest Bancshares, Inc.
Acadia Realty Trust
Government Properties Income Trust
Equity One, Inc.
Glimcher Realty Trust
Enstar Group Ltd.*
National Penn Bancshares, Inc.
First Midwest Bancorp, Inc.
BBCN Bancorp, Inc.
Walter Investment Management Corp.*
423
352
554
587
1,199
734
1,339
1,483
1,122
971
1,191
910
525
393
817
5,469
1,173
281
910
781
103
746
835
1,369
806
803
883
2,113
140
1,713
1,097
1,157
539
23,730
23,412
23,390
23,292
23,225
23,084
22,857
22,794
22,765
22,683
22,581
22,486
22,385
22,189
22,108
21,931
21,512
21,474
21,048
20,611
20,605
20,522
20,332
20,234
20,012
19,955
19,815
19,778
19,447
19,408
19,230
19,195
19,059
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Financials - 17.5% (continued)
Pennsylvania Real Estate Investment Trust
CYS Investments, Inc.
Montpelier Re Holdings Ltd.
Investors Bancorp, Inc.
Main Street Capital Corp.
Encore Capital Group, Inc.*
Altisource Residential Corp.
Argo Group International Holdings Ltd.
Fifth Street Finance Corp.
Kennedy-Wilson Holdings, Inc.
Empire State Realty Trust, Inc. — Class A
Horace Mann Educators Corp.
Chesapeake Lodging Trust
Astoria Financial Corp.
LTC Properties, Inc.
iStar Financial, Inc.*
Sterling Financial Corp.
Provident Financial Services, Inc.
Capstead Mortgage Corp.
Pinnacle Financial Partners, Inc.
NBT Bancorp, Inc.
Hersha Hospitality Trust — Class A
Sterling Bancorp
ViewPoint Financial Group, Inc.
Ambac Financial Group, Inc.*
Cash America International, Inc.
Franklin Street Properties Corp.
Parkway Properties, Inc.
Retail Opportunity Investments Corp.
American Assets Trust, Inc.
Ramco-Gershenson Properties Trust
Solar Capital Ltd.
FelCor Lodging Trust, Inc.*
Education Realty Trust, Inc.
First Financial Bancorp
Hercules Technology Growth Capital, Inc.
Amtrust Financial Services, Inc.
Boston Private Financial Holdings, Inc.
Sabra Health Care REIT, Inc.
Employers Holdings, Inc.
Renasant Corp.
National Bank Holdings Corp. — Class A
Park National Corp.
Nelnet, Inc. — Class A
Greenlight Capital Re Ltd. — Class A*
BofI Holding, Inc.*
Hudson Pacific Properties, Inc.
Chemical Financial Corp.
American Capital Mortgage Investment Corp.
Independent Bank Corp.
Associated Estates Realty Corp.
Inland Real Estate Corp.
Credit Acceptance Corp.*
HFF, Inc. — Class A*
Investors Real Estate Trust
Banner Corp.
First Commonwealth Financial Corp.
Kite Realty Group Trust
KCG Holdings, Inc. — Class A*
eHealth, Inc.*
STAG Industrial, Inc.
Infinity Property & Casualty Corp.
WesBanco, Inc.
Banco Latinoamericano de Comercio Exterior S.A. — Class E
First Merchants Corp.
OFG Bancorp
AMERISAFE, Inc.
Triangle Capital Corp.
BGC Partners, Inc. — Class A
PennantPark Investment Corp.
999
2,549
647
736
570
370
616
398
1,997
829
1,205
581
709
1,295
504
1,248
501
878
1,400
513
641
2,959
1,221
586
654
416
1,317
806
1,051
490
971
663
1,812
1,670
845
898
450
1,161
546
450
452
664
167
337
414
176
630
434
777
345
841
1,245
100
480
1,478
282
1,427
1,914
1,042
267
608
170
381
429
515
670
272
407
1,856
969
Value
$
18,961
18,888
18,828
18,827
18,633
18,596
18,548
18,503
18,472
18,445
18,437
18,325
17,931
17,910
17,837
17,809
17,074
16,963
16,912
16,688
16,602
16,482
16,325
16,086
16,062
15,933
15,738
15,540
15,471
15,401
15,284
14,950
14,786
14,729
14,728
14,727
14,711
14,652
14,272
14,243
14,220
14,210
14,207
14,201
13,956
13,804
13,778
13,745
13,566
13,521
13,498
13,097
12,999
12,888
12,681
12,639
12,586
12,575
12,462
12,413
12,397
12,198
12,192
12,021
11,721
11,618
11,489
11,254
11,247
11,240
Investment Technology Group, Inc.*
United Community Banks, Inc.*
Northfield Bancorp, Inc.
World Acceptance Corp.*
S&T Bancorp, Inc.
Resource Capital Corp.
Cohen & Steers, Inc.
Wilshire Bancorp, Inc.
Forestar Group, Inc.*
Tompkins Financial Corp.
City Holding Co.
Oritani Financial Corp.
Summit Hotel Properties, Inc.
Sandy Spring Bancorp, Inc.
Golub Capital BDC, Inc.
ICG Group, Inc.*
Safety Insurance Group, Inc.
Hanmi Financial Corp.
Berkshire Hills Bancorp, Inc.
BlackRock Kelso Capital Corp.
Stewart Information Services Corp.
Eagle Bancorp, Inc.*
First Potomac Realty Trust
TrustCo Bank Corp. NY
New Mountain Finance Corp.
Brookline Bancorp, Inc.
CoreSite Realty Corp.
FXCM, Inc. — Class A
Green Dot Corp. — Class A*
Piper Jaffray Cos.*
544
630
847
127
437
1,861
275
994
508
210
232
659
1,165
370
545
557
184
466
372
1,086
313
328
863
1,376
656
1,027
303
540
382
240
11,185
11,183
11,180
11,116
11,060
11,036
11,017
10,864
10,805
10,792
10,749
10,577
10,485
10,430
10,415
10,377
10,359
10,201
10,144
10,132
10,101
10,047
10,037
9,880
9,866
9,828
9,754
9,634
9,607
9,492
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Financials - 17.5% (continued)
Navigators Group, Inc.*
Lakeland Financial Corp.
Community Trust Bancorp, Inc.
Flushing Financial Corp.
Alexander's, Inc.
WSFS Financial Corp.
RAIT Financial Trust
Simmons First National Corp. — Class A
Anworth Mortgage Asset Corp.
Springleaf Holdings, Inc.*
Campus Crest Communities, Inc.
Apollo Commercial Real Estate Finance, Inc.
EZCORP, Inc. — Class A*
TCP Capital Corp.
Bancorp, Inc.*
Select Income REIT
United Fire Group, Inc.
State Bank Financial Corp.
THL Credit, Inc.
StellarOne Corp.
Essent Group Ltd.*
Medley Capital Corp.
GAMCO Investors, Inc. — Class A
TICC Capital Corp.
Cardinal Financial Corp.
Excel Trust, Inc.
Capital Bank Financial Corp. — Class A*
Maiden Holdings Ltd.
HCI Group, Inc.
Dime Community Bancshares, Inc.
Chatham Lodging Trust
Washington Trust Bancorp, Inc.
PICO Holdings, Inc.*
National Western Life Insurance Co. — Class A
Tejon Ranch Co.*
Union First Market Bankshares Corp.
Ashford Hospitality Trust, Inc.
Ameris Bancorp*
Rouse Properties, Inc.
First Interstate Bancsystem, Inc. — Class A
Universal Health Realty Income Trust
1st Source Corp.
Southside Bancshares, Inc.
Capital Southwest Corp.
Apollo Residential Mortgage, Inc.
Getty Realty Corp.
Third Point Reinsurance Ltd.*
NewStar Financial, Inc.*
DFC Global Corp.*
Taylor Capital Group, Inc.*
Virginia Commerce Bancorp, Inc.*
Urstadt Biddle Properties, Inc. — Class A
Westwood Holdings Group, Inc.
Cedar Realty Trust, Inc.
Trico Bancshares
First BanCorp*
New York Mortgage Trust, Inc.
SY Bancorp, Inc.
Central Pacific Financial Corp.
Lakeland Bancorp, Inc.
Terreno Realty Corp.
AG Mortgage Investment Trust, Inc.
Dynex Capital, Inc.
Agree Realty Corp.
Arlington Asset Investment Corp. — Class A
Heartland Financial USA, Inc.
CoBiz Financial, Inc.
Safeguard Scientifics, Inc.*
CyrusOne, Inc.
150
241
206
448
28
119
1,022
242
2,121
352
941
541
746
519
481
322
300
463
501
337
336
583
92
773
443
699
349
726
148
465
384
208
333
34
204
300
896
346
329
256
179
224
258
202
473
377
373
382
590
252
394
362
107
1,055
231
1,055
932
204
324
523
364
410
799
217
238
216
519
308
276
Value
$
9,474
9,399
9,303
9,274
9,240
9,226
9,167
8,990
8,929
8,899
8,855
8,791
8,721
8,709
8,615
8,610
8,598
8,422
8,261
8,112
8,084
8,075
8,001
7,993
7,974
7,962
7,940
7,935
7,918
7,868
7,853
7,742
7,696
7,601
7,499
7,443
7,419
7,304
7,301
7,263
7,171
7,155
7,054
7,044
6,991
6,925
6,912
6,788
6,756
6,698
6,694
6,679
6,624
6,604
6,553
6,530
6,515
6,512
6,506
6,470
6,443
6,412
6,392
6,297
6,281
6,219
6,207
6,188
6,163
First Busey Corp.
Monmouth Real Estate Investment Corp. — Class A
Customers Bancorp, Inc.*
Bryn Mawr Bank Corp.
First Financial Corp.
TowneBank
FBL Financial Group, Inc. — Class A
BancFirst Corp.
Flagstar Bancorp, Inc.*
Enterprise Financial Services Corp.
Saul Centers, Inc.
Cowen Group, Inc. — Class A*
Citizens, Inc.*
RE/MAX Holdings, Inc. — Class A*
Universal Insurance Holdings, Inc.
Rockville Financial, Inc.
United Financial Bancorp, Inc.
MainSource Financial Group, Inc.
Federal Agricultural Mortgage Corp. — Class C
Phoenix Companies, Inc.*
OneBeacon Insurance Group Ltd. — Class A
Western Asset Mortgage Capital Corp.
German American Bancorp, Inc.
QTS Realty Trust, Inc. — Class A
Winthrop Realty Trust
Meadowbrook Insurance Group, Inc.
1,058
669
297
200
163
385
131
104
295
280
119
1,425
634
171
377
380
285
295
155
86
333
352
181
208
464
734
6,136
6,081
6,077
6,036
5,959
5,925
5,867
5,830
5,788
5,718
5,680
5,572
5,548
5,484
5,459
5,400
5,384
5,319
5,309
5,280
5,268
5,238
5,159
5,154
5,127
5,109
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Financials - 17.5% (continued)
Beneficial Mutual Bancorp, Inc.*
Univest Corporation of Pennsylvania
First of Long Island Corp.
Gramercy Property Trust, Inc.*
HomeTrust Bancshares, Inc.*
Financial Institutions, Inc.
Hudson Valley Holding Corp.
Camden National Corp.
First Bancorp
AmREIT, Inc. — Class B
Bank Mutual Corp.
Great Southern Bancorp, Inc.
Diamond Hill Investment Group, Inc.
Ladenburg Thalmann Financial Services, Inc.*
Park Sterling Corp.
MCG Capital Corp.
State Auto Financial Corp.
BNC Bancorp
Southwest Bancorp, Inc.*
Centerstate Banks, Inc.
Metro Bancorp, Inc.*
MVC Capital, Inc.
Medallion Financial Corp.
Fidus Investment Corp.
Whitestone REIT — Class B
Arrow Financial Corp.
First Community Bancshares, Inc.
Bridge Bancorp, Inc.
Gladstone Commercial Corp.
Pacific Continental Corp.
Ares Commercial Real Estate Corp.
Washington Banking Co.
GFI Group, Inc.
First Connecticut Bancorp, Inc.
Walker & Dunlop, Inc.*
CNB Financial Corp.
Aviv REIT, Inc.
Pacific Premier Bancorp, Inc.*
International. FCStone, Inc.*
National Bankshares, Inc.
Heritage Financial Corp.
Baldwin & Lyons, Inc. — Class B
Physicians Realty Trust
HomeStreet, Inc.
Citizens & Northern Corp.
Penns Woods Bancorp, Inc.
First Defiance Financial Corp.
Peoples Bancorp, Inc.
Bank of Marin Bancorp
Yadkin Financial Corp.*
Manning & Napier, Inc. — Class A
Territorial Bancorp, Inc.
MetroCorp Bancshares, Inc.
Oppenheimer Holdings, Inc. — Class A
Charter Financial Corp.
One Liberty Properties, Inc.
Crawford & Co. — Class B
Meta Financial Group, Inc.
Suffolk Bancorp*
OmniAmerican Bancorp, Inc.*
Silver Bay Realty Trust Corp.
Fidelity Southern Corp.
Republic Bancorp, Inc. — Class A
Calamos Asset Management, Inc. — Class A
Preferred Bank/Los Angeles CA*
FBR & Co.*
OceanFirst Financial Corp.
GSV Capital Corp.*
American Residential Properties, Inc.*
465
245
118
873
308
199
240
115
291
287
683
156
40
1,505
659
1,039
215
265
285
443
208
328
308
196
317
159
248
159
230
259
311
229
1,020
247
246
207
164
245
207
104
224
140
298
189
183
74
141
162
84
212
204
155
237
144
331
177
385
88
170
164
219
210
141
288
170
129
198
280
197
Value
$
5,078
5,067
5,059
5,020
4,925
4,917
4,884
4,855
4,836
4,822
4,788
4,744
4,734
4,711
4,705
4,572
4,567
4,542
4,537
4,496
4,480
4,428
4,420
4,261
4,238
4,223
4,142
4,134
4,133
4,128
4,074
4,060
3,988
3,982
3,978
3,933
3,887
3,856
3,838
3,837
3,833
3,825
3,797
3,780
3,775
3,774
3,662
3,647
3,645
3,612
3,601
3,596
3,572
3,568
3,565
3,563
3,557
3,549
3,536
3,506
3,502
3,488
3,460
3,410
3,409
3,403
3,392
3,385
3,381
KCAP Financial, Inc.
Bank of Kentucky Financial Corp.
1st United Bancorp, Inc.
Rexford Industrial Realty, Inc.
Seacoast Banking Corporation of Florida*
West Bancorporation, Inc.
Ashford Hospitality Prime, Inc.
Global Indemnity plc — Class A*
PennyMac Financial Services, Inc. — Class A*
Consolidated-Tomoka Land Co.
Banc of California, Inc.
Center Bancorp, Inc.
Home Federal Bancorp, Inc.
Horizon Bancorp
Ames National Corp.
Tree.com, Inc.*
Gladstone Investment Corp.
Marlin Business Services Corp.
Solar Senior Capital Ltd.
Franklin Financial Corp.*
Fox Chase Bancorp, Inc.
Guaranty Bancorp
Firsthand Technology Value Fund, Inc.
Hannon Armstrong Sustainable Infrastructure Capital, Inc.
Bridge Capital Holdings*
Gladstone Capital Corp.
American National Bankshares, Inc.
PennantPark Floating Rate Capital Ltd.
Kansas City Life Insurance Co.
BankFinancial Corp.
Tower Group International Ltd.
Sierra Bancorp
Independent Bank Group, Inc.
417
91
440
252
271
206
179
128
183
88
236
168
211
124
140
95
386
121
167
153
174
215
129
214
145
309
112
214
60
310
839
176
57
3,365
3,358
3,348
3,326
3,304
3,259
3,258
3,238
3,212
3,194
3,165
3,152
3,144
3,141
3,135
3,120
3,111
3,049
3,043
3,026
3,024
3,021
2,989
2,987
2,978
2,966
2,940
2,938
2,864
2,840
2,836
2,832
2,831
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Financials - 17.5% (continued)
MidWestOne Financial Group, Inc.
JAVELIN Mortgage Investment Corp.
Mercantile Bank Corp.
Meridian Interstate Bancorp, Inc.*
ESB Financial Corp.
NewBridge Bancorp*
Merchants Bancshares, Inc.
Stellus Capital Investment Corp.
Regional Management Corp.*
AV Homes, Inc.*
Armada Hoffler Properties, Inc.
United Community Financial Corp.*
SWS Group, Inc.*
JGWPT Holdings, Inc. — Class A*
Peapack Gladstone Financial Corp.
Northrim BanCorp, Inc.
Consumer Portfolio Services, Inc.*
Heritage Commerce Corp.
First Bancorp, Inc.
Bar Harbor Bankshares
CU Bancorp*
Kearny Financial Corp.*
UMH Properties, Inc.
Farmers Capital Bank Corp.*
National Interstate Corp.
NGP Capital Resources Co.
Nicholas Financial, Inc.
Enterprise Bancorp, Inc.
First Financial Northwest, Inc.
Eastern Insurance Holdings, Inc.
First Security Group, Inc.*
Heritage Oaks Bancorp*
MidSouth Bancorp, Inc.
Capital City Bank Group, Inc.*
Sun Bancorp, Inc.*
Provident Financial Holdings, Inc.
Stonegate Mortgage Corp.*
C&F Financial Corp.
Intervest Bancshares Corp. — Class A*
First NBC Bank Holding Co.*
LCNB Corp.
Westfield Financial, Inc.
Investors Title Co.
Pzena Investment Management, Inc. — Class A
CommunityOne Bancorp*
EMC Insurance Group, Inc.
Chemung Financial Corp.
Hallmark Financial Services, Inc.*
NASB Financial, Inc.
Home Bancorp, Inc.*
Macatawa Bank Corp.*
Horizon Technology Finance Corp.
Resource America, Inc. — Class A
JMP Group, Inc.
Donegal Group, Inc. — Class A
BBX Capital Corp. — Class A*
Blue Capital Reinsurance Holdings Ltd.*
Imperial Holdings, Inc.*
Clifton Savings Bancorp, Inc.
WhiteHorse Finance, Inc.
Access National Corp.
Marcus & Millichap, Inc.*
ESSA Bancorp, Inc.
Century Bancorp, Inc. — Class A
Independence Holding Co.
Silvercrest Asset Management Group, Inc. — Class A
Doral Financial Corp.*
Hingham Institution for Savings
103
199
128
122
193
365
81
181
77
143
279
725
422
147
133
96
266
301
142
61
138
206
249
107
101
309
146
107
218
92
975
291
122
185
592
136
122
44
267
62
111
265
24
165
152
62
55
207
60
93
350
122
183
229
105
107
90
249
127
106
105
104
133
46
111
86
92
18
Value
$
2,802
2,772
2,762
2,755
2,741
2,738
2,714
2,706
2,613
2,598
2,589
2,588
2,566
2,556
2,540
2,519
2,498
2,480
2,474
2,439
2,412
2,396
2,346
2,327
2,323
2,308
2,298
2,265
2,261
2,253
2,243
2,183
2,179
2,177
2,084
2,040
2,017
2,009
2,005
2,003
1,984
1,977
1,944
1,940
1,938
1,898
1,879
1,839
1,812
1,753
1,750
1,734
1,713
1,695
1,670
1,669
1,653
1,628
1,626
1,602
1,570
1,550
1,537
1,530
1,497
1,466
1,441
1,413
Ellington Residential Mortgage REIT
Middleburg Financial Corp.
ZAIS Financial Corp.
Gain Capital Holdings, Inc.
Capitala Finance Corp.
Garrison Capital, Inc.
Waterstone Financial, Inc.*
Tristate Capital Holdings, Inc.*
First Marblehead Corp.*
VantageSouth Bancshares, Inc.*
ConnectOne Bancorp, Inc.*
Hampton Roads Bankshares, Inc.*
CIFC Corp.
Palmetto Bancshares, Inc.*
Fortegra Financial Corp.*
Health Insurance Innovations, Inc. — Class A*
RCS Capital Corp. — Class A
California First National Bancorp
Cascade Bancorp*
First Federal Bancshares of Arkansas, Inc.*
Total Financials
Information Technology - 13.8%
CoStar Group, Inc.*
Ultimate Software Group, Inc.*
PTC, Inc.*
Aspen Technology, Inc.*
WEX, Inc.*
FEI Co.
SunEdison, Inc.*
CommVault Systems, Inc.*
90
75
82
163
61
87
107
100
135
181
24
490
105
62
96
69
34
36
94
42
1,384
1,353
1,314
1,224
1,214
1,208
1,188
1,186
998
954
951
858
817
804
794
698
624
544
492
365
5,561,313
422
408
1,754
1,368
571
608
3,899
679
77,893
62,515
62,074
57,182
56,546
54,331
50,882
50,844
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Information Technology - 13.8% (continued)
Cognex Corp.
Tyler Technologies, Inc.*
Belden, Inc.
MAXIMUS, Inc.
ARRIS Group, Inc.*
Acxiom Corp.*
ACI Worldwide, Inc.*
SS&C Technologies Holdings, Inc.*
ViaSat, Inc.*
Anixter International, Inc.
Ciena Corp.*
Guidewire Software, Inc.*
Euronet Worldwide, Inc.*
Microsemi Corp.*
j2 Global, Inc.
Qlik Technologies, Inc.*
Mentor Graphics Corp.
Verint Systems, Inc.*
Manhattan Associates, Inc.*
Yelp, Inc. — Class A*
Fair Isaac Corp.
Finisar Corp.*
Convergys Corp.
Cornerstone OnDemand, Inc.*
Dealertrack Technologies, Inc.*
Littelfuse, Inc.
Aruba Networks, Inc.*
Plantronics, Inc.
Hittite Microwave Corp.*
Cardtronics, Inc.*
Zillow, Inc. — Class A*
Sapient Corp.*
VistaPrint N.V.*
Heartland Payment Systems, Inc.
International Rectifier Corp.*
OpenTable, Inc.*
Electronics for Imaging, Inc.*
Coherent, Inc.*
SYNNEX Corp.*
Cavium, Inc.*
Infoblox, Inc.*
Blackbaud, Inc.
Semtech Corp.*
Synaptics, Inc.*
CACI International, Inc. — Class A*
TiVo, Inc.*
Itron, Inc.*
Power Integrations, Inc.
NIC, Inc.
Entegris, Inc.*
ADTRAN, Inc.
MKS Instruments, Inc.
ValueClick, Inc.*
Cypress Semiconductor Corp.
Plexus Corp.*
Unisys Corp.*
Intersil Corp. — Class A
RF Micro Devices, Inc.*
Syntel, Inc.
iGATE Corp.*
Take-Two Interactive Software, Inc.*
Sanmina Corp.*
Universal Display Corp.*
TriQuint Semiconductor, Inc.*
Bottomline Technologies de, Inc.*
1,274
465
641
1,000
1,699
1,086
586
849
577
399
1,486
716
726
1,357
677
1,271
1,393
772
282
480
523
1,367
1,540
593
636
328
1,662
635
466
652
346
1,614
476
535
1,020
335
684
354
385
748
775
666
984
479
337
1,849
581
429
952
2,040
864
772
974
2,154
502
643
1,860
4,111
228
514
1,187
1,213
587
2,391
550
Value
$
48,640
47,490
45,159
43,989
41,395
40,160
38,090
37,577
36,149
35,847
35,560
35,134
34,739
33,858
33,858
33,847
33,530
33,150
33,129
33,096
32,865
32,699
32,417
31,631
30,579
30,481
29,750
29,496
28,767
28,329
28,279
28,019
27,061
26,664
26,592
26,589
26,492
26,334
25,949
25,813
25,591
25,075
24,876
24,817
24,675
24,259
24,071
23,947
23,676
23,664
23,337
23,114
22,762
22,617
21,732
21,586
21,334
21,213
20,737
20,642
20,618
20,257
20,169
19,941
19,888
Integrated Device Technology, Inc.*
Web.com Group, Inc.*
Progress Software Corp.*
PMC - Sierra, Inc.*
Veeco Instruments, Inc.*
Cirrus Logic, Inc.*
Monolithic Power Systems, Inc.*
Methode Electronics, Inc.
NETGEAR, Inc.*
Benchmark Electronics, Inc.*
SunPower Corp. — Class A*
Monotype Imaging Holdings, Inc.
InterDigital, Inc.
Demandware, Inc.*
ScanSource, Inc.*
Blucora, Inc.*
InvenSense, Inc. — Class A*
GT Advanced Technologies, Inc.*,1
MicroStrategy, Inc. — Class A*
MTS Systems Corp.
Advent Software, Inc.
Infinera Corp.*
WebMD Health Corp. — Class A*
RealPage, Inc.*,1
Cray, Inc.*
OSI Systems, Inc.*
NetScout Systems, Inc.*
Rogers Corp.*
Cabot Microelectronics Corp.*
SPS Commerce, Inc.*
Rambus, Inc.*
QLogic Corp.*
Tessera Technologies, Inc.
comScore, Inc.*
Interactive Intelligence Group, Inc.*
Responsys, Inc.*
CSG Systems International, Inc.
Insight Enterprises, Inc.*
FARO Technologies, Inc.*
Trulia, Inc.*
Imperva, Inc.*
CalAmp Corp.*
Applied Micro Circuits Corp.*
ATMI, Inc.*
Measurement Specialties, Inc.*
1,928
618
757
2,985
575
924
543
542
562
793
606
564
598
271
409
595
828
1,960
135
235
476
1,697
418
683
579
296
528
253
340
237
1,633
1,303
772
526
223
543
499
640
248
409
299
513
1,065
467
231
19,646
19,646
19,553
19,194
18,923
18,877
18,820
18,531
18,512
18,302
18,065
17,969
17,635
17,377
17,354
17,350
17,206
17,091
16,772
16,744
16,655
16,597
16,511
15,969
15,899
15,721
15,624
15,560
15,538
15,476
15,465
15,414
15,216
15,049
15,021
14,884
14,671
14,534
14,458
14,425
14,391
14,349
14,250
14,108
14,019
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Information Technology - 13.8% (continued)
Constant Contact, Inc.*
OmniVision Technologies, Inc.*
Envestnet, Inc.*
ExlService Holdings, Inc.*
Synchronoss Technologies, Inc.*
Advanced Energy Industries, Inc.*
PROS Holdings, Inc.*
Sykes Enterprises, Inc.*
Comverse, Inc.*
Diodes, Inc.*
Pegasystems, Inc.
Bankrate, Inc.*
LivePerson, Inc.*
VirnetX Holding Corp.*
Ultratech, Inc.*
LogMeIn, Inc.*
Badger Meter, Inc.
Perficient, Inc.*
EPAM Systems, Inc.*
Virtusa Corp.*
Rofin-Sinar Technologies, Inc.*
BroadSoft, Inc.*
Proofpoint, Inc.*
Ixia*
FleetMatics Group plc*
Monster Worldwide, Inc.*
Harmonic, Inc.*
Fusion-io, Inc.*
EVERTEC, Inc.
Cass Information Systems, Inc.
Newport Corp.*
Ellie Mae, Inc.*
ManTech International Corp. — Class A
Brooks Automation, Inc.
Sonus Networks, Inc.*
Global Cash Access Holdings, Inc.*
CTS Corp.
Ruckus Wireless, Inc.*
Extreme Networks, Inc.*
Spansion, Inc. — Class A*
SciQuest, Inc.*
Angie's List, Inc.*
Checkpoint Systems, Inc.*
Lattice Semiconductor Corp.*
PDF Solutions, Inc.*
Move, Inc.*
Ambarella, Inc.*
Digital River, Inc.*
Shutterstock, Inc.*
Park Electrochemical Corp.
Fabrinet*
Daktronics, Inc.
Emulex Corp.*
Ubiquiti Networks, Inc.*
Tangoe, Inc.*
Liquidity Services, Inc.*
Callidus Software, Inc.*
Super Micro Computer, Inc.*
Photronics, Inc.*
ShoreTel, Inc.*
Stamps.com, Inc.*
Accelrys, Inc.*
Comtech Telecommunications Corp.
EarthLink Holdings Corp.*
445
792
333
482
428
579
327
574
320
523
250
672
808
615
410
354
215
486
325
297
415
406
332
824
253
1,533
1,480
1,196
432
155
574
385
345
971
3,154
973
486
675
1,364
687
333
623
596
1,696
363
581
269
492
107
306
420
538
1,173
180
458
359
589
469
890
858
189
814
244
1,506
Value
$
13,826
13,622
13,420
13,313
13,298
13,236
13,047
12,519
12,416
12,322
12,295
12,056
11,975
11,937
11,890
11,877
11,718
11,382
11,356
11,313
11,213
11,100
11,012
10,967
10,942
10,930
10,922
10,656
10,653
10,439
10,372
10,345
10,326
10,186
9,935
9,720
9,676
9,585
9,548
9,542
9,484
9,438
9,399
9,345
9,300
9,290
9,127
9,102
8,948
8,788
8,635
8,436
8,399
8,273
8,249
8,135
8,087
8,048
8,037
7,962
7,957
7,766
7,691
7,635
Epiq Systems, Inc.
ServiceSource International, Inc.*
Forrester Research, Inc.
Black Box Corp.
TeleTech Holdings, Inc.*
Silicon Image, Inc.*
Micrel, Inc.
IntraLinks Holdings, Inc.*
Ebix, Inc.
TTM Technologies, Inc.*
Silicon Graphics International Corp.*
Exar Corp.*
Jive Software, Inc.*
DTS, Inc.*
MoneyGram International, Inc.*
Nanometrics, Inc.*
Amkor Technology, Inc.*
Entropic Communications, Inc.*
AVG Technologies N.V.*
Parkervision, Inc.*
Internap Network Services Corp.*
Brightcove, Inc.*
Seachange International, Inc.*
XO Group, Inc.*
Rudolph Technologies, Inc.*
Calix, Inc.*
Bazaarvoice, Inc.*
LTX-Credence Corp.*
Actuate Corp.*
Oplink Communications, Inc.*
Mercury Systems, Inc.*
E2open, Inc.*
Lionbridge Technologies, Inc.*
Qualys, Inc.*
RealD, Inc.*
Electro Rent Corp.
Ceva, Inc.*
Integrated Silicon Solution, Inc.*
GSI Group, Inc.*
Global Eagle Entertainment, Inc.*
Inphi Corp.*
FormFactor, Inc.*
Anaren, Inc.*
Rocket Fuel, Inc.*
Digi International, Inc.*
464
897
189
240
296
1,129
684
557
454
777
495
555
576
270
311
337
1,025
1,314
353
1,295
782
415
475
388
480
582
703
693
688
282
475
217
856
220
595
272
329
414
444
331
378
793
169
75
380
7,521
7,517
7,231
7,152
7,086
6,943
6,751
6,745
6,683
6,667
6,638
6,543
6,480
6,475
6,463
6,420
6,283
6,189
6,075
5,892
5,881
5,868
5,776
5,766
5,635
5,610
5,568
5,537
5,304
5,245
5,201
5,188
5,102
5,084
5,081
5,037
5,007
5,005
4,991
4,922
4,876
4,774
4,730
4,612
4,606
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Information Technology - 13.8% (continued)
IXYS Corp.
Procera Networks, Inc.*
CIBER, Inc.*
Higher One Holdings, Inc.*
Endurance International Group Holdings, Inc.*
PLX Technology, Inc.*
Computer Task Group, Inc.
Immersion Corp.*
NVE Corp.*
Benefitfocus, Inc.*
Blackhawk Network Holdings, Inc.*
Zix Corp.*
Kopin Corp.*
Dice Holdings, Inc.*
QuinStreet, Inc.*
Marketo, Inc.*
ChannelAdvisor Corp.*
Gogo, Inc.*
Axcelis Technologies, Inc.*
Cohu, Inc.
MoSys, Inc.*
Millennial Media, Inc.*
KEMET Corp.*
Quantum Corp.*
MaxLinear, Inc. — Class A*
Avid Technology, Inc.*
Glu Mobile, Inc.*
Electro Scientific Industries, Inc.
Zygo Corp.*
Supertex, Inc.*
American Software, Inc. — Class A
PC Connection, Inc.
Ultra Clean Holdings, Inc.*
Mesa Laboratories, Inc.
Maxwell Technologies, Inc.*
Gigamon, Inc.*
Xoom Corp.*
Wix.com Ltd.*
Cvent, Inc.*
VASCO Data Security International, Inc.*
Vocus, Inc.*
Tessco Technologies, Inc.
Speed Commerce, Inc.*
Datalink Corp.*
ModusLink Global Solutions, Inc.*
Demand Media, Inc.*
ePlus, Inc.*
Bel Fuse, Inc. — Class B
KVH Industries, Inc.*
Pericom Semiconductor Corp.*
support.com, Inc.*
Marchex, Inc. — Class B
Vringo, Inc.*
Peregrine Semiconductor Corp.*
Agilysys, Inc.*
PRGX Global, Inc.*
DSP Group, Inc.*
Vishay Precision Group, Inc.*
United Online, Inc.
Numerex Corp. — Class A*
M/A-COM Technology Solutions Holdings, Inc.*
Rubicon Technology, Inc.*
Westell Technologies, Inc. — Class A*
Luxoft Holding, Inc.*
351
302
1,094
459
315
662
226
409
72
72
164
906
974
554
458
107
95
158
1,580
366
689
514
662
3,106
357
452
937
348
244
143
356
141
349
43
432
117
120
122
90
421
280
77
663
284
539
532
54
143
229
335
770
337
981
391
207
425
289
185
196
208
155
264
648
69
Value
$
4,552
4,536
4,529
4,480
4,467
4,356
4,271
4,245
4,196
4,157
4,143
4,131
4,110
4,017
3,980
3,966
3,962
3,920
3,855
3,843
3,803
3,737
3,734
3,727
3,724
3,684
3,645
3,640
3,606
3,582
3,514
3,504
3,500
3,379
3,357
3,285
3,284
3,276
3,275
3,254
3,189
3,105
3,096
3,096
3,088
3,070
3,069
3,047
2,984
2,968
2,918
2,915
2,904
2,897
2,881
2,856
2,806
2,755
2,697
2,694
2,633
2,627
2,624
2,621
PC-Telephone, Inc.
Travelzoo, Inc.*
Textura Corp.*
Alliance Fiber Optic Products, Inc.
Guidance Software, Inc.*
Neonode, Inc.*
RealNetworks, Inc.*
Reis, Inc.*
Barracuda Networks, Inc.*
Hackett Group, Inc.
Imation Corp.*
Sapiens International Corporation N.V.
ANADIGICS, Inc.*
Mitek Systems, Inc.*
Carbonite, Inc.*
NeoPhotonics Corp.*
Sigma Designs, Inc.*
Rally Software Development Corp.*
Rosetta Stone, Inc.*
Aviat Networks, Inc.*
GSI Technology, Inc.*
Unwired Planet, Inc.*
eGain Corp.*
Alpha & Omega Semiconductor Ltd.*
Richardson Electronics Ltd.
Chegg, Inc.*
Aeroflex Holding Corp.*
Silver Spring Networks, Inc.*
Digimarc Corp.
Multi-Fineline Electronix, Inc.*
Planet Payment, Inc.*
Telenav, Inc.*
TeleCommunication Systems, Inc. — Class A*
Audience, Inc.*
Spark Networks, Inc.*
Limelight Networks, Inc.*
QAD, Inc. — Class A
Uni-Pixel, Inc.*
Model N, Inc.*
Covisint Corp.*
Marin Software, Inc.*
Intermolecular, Inc.*
273
121
86
171
248
396
331
127
61
377
499
288
1,202
366
182
300
444
106
168
896
304
1,447
194
252
167
219
284
87
91
126
624
255
696
138
253
780
86
151
124
111
135
255
2,613
2,580
2,575
2,574
2,505
2,503
2,499
2,442
2,420
2,341
2,335
2,220
2,212
2,174
2,153
2,118
2,096
2,062
2,053
2,025
2,019
1,997
1,987
1,943
1,897
1,864
1,846
1,827
1,753
1,750
1,735
1,680
1,615
1,606
1,558
1,544
1,519
1,512
1,462
1,393
1,382
1,255
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Information Technology - 13.8% (continued)
Control4 Corp.*
TechTarget, Inc.*
Hutchinson Technology, Inc.*
Violin Memory, Inc.*
Mavenir Systems, Inc.*
Applied Optoelectronics, Inc.*
Radisys Corp.*
Viasystems Group, Inc.*
Tremor Video, Inc.*
Cyan, Inc.*
YuMe, Inc.*
Net Element, Inc.*
Total Information Technology
Industrials - 11.2%
Acuity Brands, Inc.
Middleby Corp.*
HEICO Corp.
Teledyne Technologies, Inc.*
EnerSys, Inc.
CLARCOR, Inc.
Esterline Technologies Corp.*
Woodward, Inc.
DigitalGlobe, Inc.*
Moog, Inc. — Class A*
Curtiss-Wright Corp.
Chart Industries, Inc.*
Generac Holdings, Inc.
EMCOR Group, Inc.
Spirit Airlines, Inc.*
Actuant Corp. — Class A
Deluxe Corp.
Corporate Executive Board Co.
Watsco, Inc.
Advisory Board Co.*
USG Corp.*
Franklin Electric Company, Inc.
Barnes Group, Inc.
Applied Industrial Technologies, Inc.
JetBlue Airways Corp.*
TAL International Group, Inc.
Beacon Roofing Supply, Inc.*
MasTec, Inc.*
Healthcare Services Group, Inc.
United Stationers, Inc.
Swift Transportation Co. — Class A*,1
Tetra Tech, Inc.*
Polypore International, Inc.*
Trimas Corp.*
Mueller Industries, Inc.
HNI Corp.
Watts Water Technologies, Inc. — Class A
Herman Miller, Inc.
FTI Consulting, Inc.*
Brink's Co.
RBC Bearings, Inc.*
Allegiant Travel Co. — Class A
On Assignment, Inc.*
Mobile Mini, Inc.*
UTI Worldwide, Inc.
ABM Industries, Inc.
UniFirst Corp.
Raven Industries, Inc.
Simpson Manufacturing Company, Inc.
WageWorks, Inc.*
Mueller Water Products, Inc. — Class A
Hub Group, Inc. — Class A*
69
170
344
276
85
61
341
50
114
119
82
31
624
275
966
550
709
727
455
1,008
1,093
661
688
445
751
986
881
1,068
742
493
378
516
1,125
691
790
613
3,401
500
710
873
1,001
592
1,223
954
686
661
413
669
416
859
589
697
336
223
671
566
1,324
804
214
535
595
366
2,304
540
Value
$
1,221
1,166
1,101
1,093
949
916
781
684
661
630
611
135
4,353,375
68,215
65,993
55,980
50,523
49,693
46,783
46,392
45,975
44,977
44,908
42,814
42,561
42,537
41,845
40,006
39,132
38,725
38,173
36,310
32,854
31,928
30,846
30,265
30,092
29,079
28,675
28,599
28,564
28,397
27,167
27,164
26,694
26,685
26,367
26,023
25,977
25,738
25,358
24,231
23,796
23,772
23,513
23,431
23,307
23,250
22,986
22,898
22,010
21,854
21,755
21,588
21,536
Huron Consulting Group, Inc.*
General Cable Corp.
Mine Safety Appliances Co.
Brady Corp. — Class A
CIRCOR International, Inc.
Orbital Sciences Corp.*
Granite Construction, Inc.
Trex Company, Inc.*
Steelcase, Inc. — Class A
Forward Air Corp.
Aircastle Ltd.
GrafTech International Ltd.*
Interface, Inc. — Class A
Korn/Ferry International*
AZZ, Inc.
G&K Services, Inc. — Class A
Tennant Co.
EnPro Industries, Inc.*
Proto Labs, Inc.*
Werner Enterprises, Inc.
Encore Wire Corp.
AAR Corp.
Matson, Inc.
Primoris Services Corp.
GenCorp, Inc.*
Kaman Corp.
Knight Transportation, Inc.
Lindsay Corp.
DXP Enterprises, Inc.*
Atlas Air Worldwide Holdings, Inc.*
Cubic Corp.
TrueBlue, Inc.*
Briggs & Stratton Corp.
Rush Enterprises, Inc. — Class A*
Exponent, Inc.
Apogee Enterprises, Inc.
Universal Forest Products, Inc.
Meritor, Inc.*
McGrath RentCorp
Albany International Corp. — Class A
Hyster-Yale Materials Handling, Inc.
Tutor Perini Corp.*
342
729
415
679
254
873
571
248
1,233
444
1,004
1,706
866
710
372
290
266
309
248
674
307
585
621
514
882
397
860
190
136
380
294
597
700
511
195
419
288
1,421
371
410
156
545
21,450
21,440
21,252
21,001
20,518
20,341
19,973
19,723
19,555
19,496
19,237
19,158
19,017
18,545
18,176
18,047
18,037
17,814
17,653
16,668
16,639
16,386
16,214
16,001
15,894
15,773
15,772
15,722
15,667
15,637
15,482
15,391
15,232
15,151
15,101
15,046
15,016
14,821
14,766
14,731
14,533
14,334
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Industrials - 11.2% (continued)
Navigant Consulting, Inc.*
Titan International, Inc.
Federal Signal Corp.*
Dycom Industries, Inc.*
Altra Industrial Motion Corp.
ESCO Technologies, Inc.
Wesco Aircraft Holdings, Inc.*
II-VI, Inc.*
Heartland Express, Inc.
AAON, Inc.
H&E Equipment Services, Inc.*
Knoll, Inc.
Team, Inc.*
Sun Hydraulics Corp.
Arkansas Best Corp.
Textainer Group Holdings Ltd.
Aegion Corp. — Class A*
Wabash National Corp.*
John Bean Technologies Corp.
Rexnord Corp.*
Insperity, Inc.
US Ecology, Inc.
Standex International Corp.
Taser International, Inc.*
Astec Industries, Inc.
Greenbrier Companies, Inc.*
Astronics Corp.*
Saia, Inc.*
SkyWest, Inc.
XPO Logistics, Inc.*
ACCO Brands Corp.*
Thermon Group Holdings, Inc.*
Quanex Building Products Corp.
Comfort Systems USA, Inc.
Acacia Research Corp.
Blount International, Inc.*
Aceto Corp.
Barrett Business Services, Inc.
Nortek, Inc.*
Quad/Graphics, Inc.
ICF International, Inc.*
Kelly Services, Inc. — Class A
Powell Industries, Inc.
Gorman-Rupp Co.
Griffon Corp.
Resources Connection, Inc.
American Science & Engineering, Inc.
Gibraltar Industries, Inc.*
Viad Corp.
Engility Holdings, Inc.*
RPX Corp.*
Kforce, Inc.
Great Lakes Dredge & Dock Corp.*
West Corp.
Aerovironment, Inc.*
MYR Group, Inc.*
Columbus McKinnon Corp.*
Republic Airways Holdings, Inc.*
Roadrunner Transportation Systems, Inc.*
Consolidated Graphics, Inc.*
Hawaiian Holdings, Inc.*
LB Foster Co. — Class A
Kimball International, Inc. — Class B
Marten Transport Ltd.
Ennis, Inc.
Park-Ohio Holdings Corp.*
EnerNOC, Inc.*
742
779
918
483
391
388
601
746
668
409
437
702
303
313
378
314
574
1,003
422
443
331
320
189
748
302
353
222
353
755
425
1,662
394
540
544
724
718
405
108
134
366
286
398
138
274
651
599
119
452
302
249
479
392
869
310
273
311
282
715
276
108
756
152
476
342
382
128
384
Value
$
14,246
14,006
13,449
13,423
13,380
13,293
13,174
13,130
13,106
13,068
12,948
12,854
12,829
12,780
12,731
12,629
12,565
12,387
12,377
11,965
11,959
11,901
11,884
11,878
11,666
11,593
11,322
11,314
11,197
11,173
11,169
10,768
10,757
10,548
10,527
10,389
10,129
10,016
9,996
9,966
9,927
9,926
9,245
9,168
8,600
8,584
8,557
8,403
8,390
8,317
8,095
8,020
7,995
7,970
7,952
7,800
7,653
7,643
7,438
7,284
7,280
7,188
7,154
6,905
6,761
6,707
6,609
Multi-Color Corp.
Kadant, Inc.
GP Strategies Corp.*
American Railcar Industries, Inc.
KEYW Holding Corp.*
Air Transport Services Group, Inc.*
Alamo Group, Inc.
Insteel Industries, Inc.
CAI International, Inc.*
ExOne Co.*
SP Plus Corp.*
Celadon Group, Inc.
Furmanite Corp.*
Capstone Turbine Corp.*
National Presto Industries, Inc.
American Woodmark Corp.*
Echo Global Logistics, Inc.*
Argan, Inc.
Douglas Dynamics, Inc.
PowerSecure International, Inc.*
NCI Building Systems, Inc.*
Heidrick & Struggles International, Inc.
Graham Corp.
Northwest Pipe Co.*
InnerWorkings, Inc.*
NN, Inc.
Kratos Defense & Security Solutions, Inc.*
Mistras Group, Inc.*
Layne Christensen Co.*
PGT, Inc.*
Global Power Equipment Group, Inc.
FreightCar America, Inc.
CBIZ, Inc.*
Orion Marine Group, Inc.*
Pendrell Corp.*
Builders FirstSource, Inc.*
ARC Document Solutions, Inc.*
Ducommun, Inc.*
Titan Machinery, Inc.*
Lydall, Inc.*
Dynamic Materials Corp.
Pacer International, Inc.*
CECO Environmental Corp.
175
162
214
138
464
759
100
266
252
98
224
298
544
4,458
71
144
259
201
327
320
303
262
145
139
647
248
644
236
287
481
247
181
525
397
2,364
653
554
152
250
247
200
517
261
6,605
6,564
6,375
6,314
6,236
6,140
6,069
6,046
5,940
5,925
5,833
5,805
5,777
5,751
5,716
5,692
5,563
5,540
5,500
5,494
5,315
5,277
5,262
5,249
5,040
5,007
4,946
4,928
4,902
4,868
4,834
4,818
4,788
4,776
4,752
4,662
4,554
4,531
4,455
4,352
4,348
4,270
4,220
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Industrials - 11.2% (continued)
Ply Gem Holdings, Inc.*
Sparton Corp.*
Patriot Transportation Holding, Inc.*
Pike Corp.*
Quality Distribution, Inc.*
CDI Corp.
Energy Recovery, Inc.*
Coleman Cable, Inc.
Houston Wire & Cable Co.
Vicor Corp.*
Performant Financial Corp.*
FuelCell Energy, Inc.*,1
Casella Waste Systems, Inc. — Class A*
Twin Disc, Inc.
Manitex International, Inc.*
CRA International, Inc.*
Courier Corp.
Preformed Line Products Co.
Miller Industries, Inc.
Patrick Industries, Inc.*
Schawk, Inc. — Class A
Sterling Construction Company, Inc.*
Flow International Corp.*
VSE Corp.
PMFG, Inc.*
YRC Worldwide, Inc.*
LSI Industries, Inc.
Ameresco, Inc. — Class A*
Cenveo, Inc.*
Franklin Covey Co.*
Xerium Technologies, Inc.*
Heritage-Crystal Clean, Inc.*
Commercial Vehicle Group, Inc.*
Odyssey Marine Exploration, Inc.*
Ampco-Pittsburgh Corp.
Hardinge, Inc.
Hurco Companies, Inc.
Tecumseh Products Co. — Class A*
Universal Truckload Services, Inc.
International Shipholding Corp.
Power Solutions International, Inc.*
LMI Aerospace, Inc.*
Accuride Corp.*
Norcraft Companies, Inc.*
Stock Building Supply Holdings, Inc.*
Global Brass & Copper Holdings, Inc.
TRC Companies, Inc.*
API Technologies Corp.*
Enphase Energy, Inc.*
Revolution Lighting Technologies, Inc.*
Innovative Solutions & Support, Inc.*
Acorn Energy, Inc.
American Superconductor Corp.*
Ultrapetrol Bahamas Ltd.*
Intersections, Inc.
Erickson Air-Crane, Inc.*
NL Industries, Inc.
BlueLinx Holdings, Inc.*
Swisher Hygiene, Inc.*
Omega Flex, Inc.
Compx International, Inc.
Total Industrials
Consumer Discretionary - 10.6%
Brunswick Corp.
Fifth & Pacific Companies, Inc.*
234
150
100
382
311
207
651
137
260
254
329
2,316
561
122
197
154
168
41
160
102
194
244
704
59
308
160
318
283
786
134
159
127
348
1,223
127
168
97
266
77
79
30
149
584
111
114
116
241
474
235
435
188
320
715
310
139
52
95
490
1,665
39
14
1,322
1,759
Value
$
4,219
4,193
4,151
4,038
3,990
3,836
3,620
3,592
3,479
3,409
3,389
3,266
3,254
3,159
3,128
3,049
3,039
3,000
2,981
2,951
2,885
2,862
2,844
2,833
2,787
2,779
2,757
2,734
2,704
2,664
2,622
2,602
2,530
2,470
2,470
2,431
2,426
2,407
2,349
2,331
2,253
2,196
2,178
2,178
2,077
1,920
1,721
1,616
1,490
1,490
1,371
1,302
1,173
1,159
1,083
1,081
1,062
956
856
798
197
3,541,840
60,892
56,410
Sotheby's
Tenneco, Inc.*
Wolverine World Wide, Inc.
Dana Holding Corp.
Lumber Liquidators Holdings, Inc.*
Live Nation Entertainment, Inc.*
Buffalo Wild Wings, Inc.*
Pool Corp.
Vail Resorts, Inc.
Cheesecake Factory, Inc.
Office Depot, Inc.*
Sinclair Broadcast Group, Inc. — Class A
Men's Wearhouse, Inc.
Jack in the Box, Inc.*
Steven Madden Ltd.*
Pier 1 Imports, Inc.
Cracker Barrel Old Country Store, Inc.
HSN, Inc.
Iconix Brand Group, Inc.*
New York Times Co. — Class A
Life Time Fitness, Inc.*
Penske Automotive Group, Inc.
Ryland Group, Inc.
Grand Canyon Education, Inc.*
Shutterfly, Inc.*
Outerwall, Inc.*,1
Meredith Corp.
Rent-A-Center, Inc. — Class A
Conn's, Inc.*
Monro Muffler Brake, Inc.1
Hibbett Sports, Inc.*
Genesco, Inc.*
Meritage Homes Corp.*
Texas Roadhouse, Inc. — Class A
ANN, Inc.*
Asbury Automotive Group, Inc.*
996
890
1,464
2,148
406
2,057
274
686
527
778
7,024
1,003
696
647
879
1,383
287
498
754
1,885
633
619
672
665
553
413
518
785
330
455
380
349
530
913
686
461
52,987
50,346
49,716
42,144
41,772
40,646
40,332
39,885
39,646
37,553
37,157
35,837
35,551
32,363
32,163
31,920
31,590
31,026
29,934
29,914
29,751
29,193
29,171
28,993
28,164
27,783
26,832
26,172
26,001
25,644
25,540
25,497
25,435
25,381
25,080
24,774
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Consumer Discretionary - 10.6% (continued)
Nexstar Broadcasting Group, Inc. — Class A
La-Z-Boy, Inc.
Hillenbrand, Inc.
Express, Inc.*
Helen of Troy Ltd.*
Vitamin Shoppe, Inc.*
Group 1 Automotive, Inc.
Lithia Motors, Inc. — Class A
Jos. A. Bank Clothiers, Inc.*
Marriott Vacations Worldwide Corp.*
KB Home
Cooper Tire & Rubber Co.
Pinnacle Entertainment, Inc.*
Buckle, Inc.
Papa John's International, Inc.
Orient-Express Hotels Ltd. — Class A*
Dorman Products, Inc.*
Bob Evans Farms, Inc.
Crocs, Inc.*
Five Below, Inc.*
Sturm Ruger & Company, Inc.
Finish Line, Inc. — Class A
American Axle & Manufacturing Holdings, Inc.*
DineEquity, Inc.
Standard Pacific Corp.*
Valassis Communications, Inc.
Bloomin' Brands, Inc.*
Children's Place Retail Stores, Inc.*
Skechers U.S.A., Inc. — Class A*
MDC Holdings, Inc.
Krispy Kreme Doughnuts, Inc.*
G-III Apparel Group Ltd.*
Churchill Downs, Inc.
Ascent Capital Group, Inc. — Class A*
Brown Shoe Company, Inc.
Restoration Hardware Holdings, Inc.*
Interval Leisure Group, Inc.
Jones Group, Inc.
National CineMedia, Inc.
Matthews International Corp. — Class A
Fiesta Restaurant Group, Inc.*
Drew Industries, Inc.
Select Comfort Corp.*
Quiksilver, Inc.*
Sonic Corp.*
Oxford Industries, Inc.
Tumi Holdings, Inc.*
Loral Space & Communications, Inc.*
Red Robin Gourmet Burgers, Inc.*
Columbia Sportswear Co.
LifeLock, Inc.*
International Speedway Corp. — Class A
iRobot Corp.*
MDC Partners, Inc. — Class A
Sonic Automotive, Inc. — Class A
AFC Enterprises, Inc.*
Multimedia Games Holding Company, Inc.*
Gentherm, Inc.*
Scholastic Corp.
Cato Corp. — Class A
Caesars Entertainment Corp.*
Core-Mark Holding Company, Inc.
Francesca's Holdings Corp.*
Scientific Games Corp. — Class A*
CEC Entertainment, Inc.
ITT Educational Services, Inc.*
431
764
801
1,252
471
444
321
325
410
424
1,221
925
855
410
472
1,402
374
409
1,289
475
280
724
988
240
2,165
571
811
337
569
574
958
247
203
212
633
264
574
1,175
878
408
330
335
811
1,934
826
199
701
192
209
192
891
408
415
558
573
349
424
492
385
407
591
164
644
696
265
344
Value
$
24,020
23,684
23,565
23,375
23,319
23,092
22,797
22,562
22,439
22,370
22,320
22,237
22,222
21,550
21,429
21,184
20,970
20,691
20,521
20,520
20,465
20,395
20,205
20,052
19,593
19,557
19,472
19,199
18,851
18,506
18,480
18,226
18,199
18,139
17,813
17,767
17,737
17,578
17,524
17,385
17,239
17,152
17,104
16,961
16,677
16,053
15,808
15,548
15,370
15,120
14,621
14,480
14,430
14,235
14,027
13,437
13,297
13,191
13,094
12,943
12,730
12,453
11,856
11,783
11,734
11,551
Boyd Gaming Corp.*
Winnebago Industries, Inc.*
Movado Group, Inc.
BJ's Restaurants, Inc.*
Ethan Allen Interiors, Inc.
Smith & Wesson Holding Corp.*
American Public Education, Inc.*
Arctic Cat, Inc.
Hovnanian Enterprises, Inc. — Class A*,1
Gray Television, Inc.*
Stage Stores, Inc.
Standard Motor Products, Inc.
Steiner Leisure Ltd.*
Capella Education Co.
Aeropostale, Inc.*
Regis Corp.
Fred's, Inc. — Class A
Container Store Group, Inc.*
Tuesday Morning Corp.*
EW Scripps Co. — Class A*
Cumulus Media, Inc. — Class A*
Denny's Corp.*
Carmike Cinemas, Inc.*
Pep Boys-Manny Moe & Jack*
M/I Homes, Inc.*
Beazer Homes USA, Inc.*
Haverty Furniture Companies, Inc.
Barnes & Noble, Inc.*
Modine Manufacturing Co.*
Callaway Golf Co.
FTD Companies, Inc.*
Blue Nile, Inc.*
K12, Inc.*
Chuy's Holdings, Inc.*
Biglari Holdings, Inc.*
Universal Electronics, Inc.*
1,017
412
254
359
365
821
253
193
1,656
736
477
287
214
158
1,152
692
542
215
623
453
1,267
1,347
338
774
358
372
286
594
691
1,043
269
186
401
242
17
223
11,451
11,309
11,179
11,151
11,103
11,075
10,998
10,997
10,963
10,952
10,599
10,562
10,527
10,498
10,472
10,041
10,038
10,021
9,943
9,839
9,794
9,685
9,410
9,396
9,111
9,084
8,952
8,880
8,859
8,792
8,764
8,759
8,722
8,717
8,613
8,499
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Consumer Discretionary - 10.6% (continued)
Mattress Firm Holding Corp.*
Zumiez, Inc.*,1
Vera Bradley, Inc.*
Zale Corp.*
Ruth's Hospitality Group, Inc.
LeapFrog Enterprises, Inc. — Class A*
Burlington Stores, Inc.*
Superior Industries International, Inc.
World Wrestling Entertainment, Inc. — Class A
NutriSystem, Inc.
Cavco Industries, Inc.*
Libbey, Inc.*
Media General, Inc. — Class A*,1
Bright Horizons Family Solutions, Inc.*
Shoe Carnival, Inc.
Ruby Tuesday, Inc.*
Destination Maternity Corp.
Journal Communications, Inc. — Class A*
Unifi, Inc.*
Rentrak Corp.*
Federal-Mogul Corp.*
MarineMax, Inc.*
Strayer Education, Inc.
Stein Mart, Inc.
ClubCorp Holdings, Inc.
Stoneridge, Inc.*
Houghton Mifflin Harcourt Co.*
Vince Holding Corp.*
Town Sports International Holdings, Inc.
Overstock.com, Inc.*
PetMed Express, Inc.
Harte-Hanks, Inc.
Entravision Communications Corp. — Class A
America's Car-Mart, Inc.*
Big 5 Sporting Goods Corp.
Remy International, Inc.
Tile Shop Holdings, Inc.*
Kirkland's, Inc.*
Diamond Resorts International, Inc.*
Bridgepoint Education, Inc.*
Career Education Corp.*
Bravo Brio Restaurant Group, Inc.*
VOXX International Corp. — Class A*
NACCO Industries, Inc. — Class A
Digital Generation, Inc.*
Christopher & Banks Corp.*
Black Diamond, Inc.*
Carriage Services, Inc. — Class A
William Lyon Homes — Class A*
TRI Pointe Homes, Inc.*
Central European Media Enterprises Ltd. — Class A*
Universal Technical Institute, Inc.
Destination XL Group, Inc.*
ValueVision Media, Inc. — Class A*
RetailMeNot, Inc.*
Nautilus, Inc.*
Citi Trends, Inc.*
RadioShack Corp.*
Del Frisco's Restaurant Group, Inc.*
Mac-Gray Corp.
Entercom Communications Corp. — Class A*
Marcus Corp.
Education Management Corp.*
West Marine, Inc.*
Saga Communications, Inc. — Class A
195
306
316
475
522
931
226
340
419
417
98
312
286
175
219
891
203
649
215
150
287
343
160
401
304
421
311
171
351
161
298
629
804
115
244
207
266
203
259
268
809
283
273
73
355
529
336
229
200
218
1,118
308
614
572
138
459
225
1,455
158
174
347
270
355
251
71
Value
$
8,393
7,956
7,597
7,491
7,418
7,392
7,232
7,014
6,947
6,855
6,733
6,552
6,464
6,430
6,353
6,175
6,066
6,042
5,856
5,684
5,648
5,515
5,515
5,393
5,393
5,368
5,275
5,245
5,181
4,957
4,956
4,919
4,896
4,856
4,836
4,827
4,807
4,805
4,781
4,746
4,611
4,604
4,559
4,540
4,526
4,518
4,479
4,472
4,428
4,345
4,293
4,284
4,034
3,998
3,973
3,869
3,825
3,783
3,724
3,694
3,647
3,629
3,582
3,572
3,571
Wet Seal, Inc. — Class A*
SFX Entertainment, Inc.*
CSS Industries, Inc.
Spartan Motors, Inc.
Speedway Motorsports, Inc.
Sears Hometown and Outlet Stores, Inc.*
Bon-Ton Stores, Inc.
Noodles & Co.*
Winmark Corp.
Daily Journal Corp.*
Morgans Hotel Group Co.*
Potbelly Corp.*
Jamba, Inc.*
McClatchy Co. — Class A*
Costa, Inc.*
Weyco Group, Inc.
Perry Ellis International, Inc.*
Fuel Systems Solutions, Inc.*
Isle of Capri Casinos, Inc.*
RG Barry Corp.
bebe stores, Inc.
hhgregg, Inc.*
Hooker Furniture Corp.
Monarch Casino & Resort, Inc.*
Fox Factory Holding Corp.*
Orbitz Worldwide, Inc.*
Bassett Furniture Industries, Inc.
Culp, Inc.
LGI Homes, Inc.*
Lifetime Brands, Inc.
Carrols Restaurant Group, Inc.*
Pacific Sunwear of California, Inc.*
Luby's, Inc.*
Global Sources Ltd.*
1,301
291
121
502
169
131
203
92
35
17
386
129
245
889
138
98
181
205
311
142
511
193
157
130
148
349
161
119
136
151
345
675
292
277
3,552
3,492
3,470
3,363
3,355
3,341
3,305
3,305
3,242
3,145
3,138
3,132
3,045
3,023
2,999
2,884
2,858
2,843
2,799
2,741
2,719
2,696
2,619
2,610
2,608
2,506
2,460
2,434
2,419
2,375
2,280
2,255
2,254
2,252
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Consumer Discretionary - 10.6% (continued)
Flexsteel Industries, Inc.
Corinthian Colleges, Inc.*
AH Belo Corp. — Class A
1-800-Flowers.com, Inc. — Class A*
Tower International, Inc.*
Zagg, Inc.*
Johnson Outdoors, Inc. — Class A
Nathan's Famous, Inc.*
Reading International, Inc. — Class A*
Skullcandy, Inc.*
ReachLocal, Inc.*
WCI Communities, Inc.*
JAKKS Pacific, Inc.
Vitacost.com, Inc.*
New York & Company, Inc.*
Shiloh Industries, Inc.*
Systemax, Inc.*
Crown Media Holdings, Inc. — Class A*
Lincoln Educational Services Corp.
UCP, Inc. — Class A*
Dex Media, Inc.*
Tilly's, Inc. — Class A*
JTH Holding, Inc. — Class A*
Marine Products Corp.
Martha Stewart Living Omnimedia, Inc. — Class A*
Hemisphere Media Group, Inc.*
Blyth, Inc.1
Einstein Noah Restaurant Group, Inc.
Salem Communications Corp. — Class A
Ignite Restaurant Group, Inc.*
EveryWare Global, Inc.*
American Apparel, Inc.*
Gordmans Stores, Inc.
Body Central Corp.*
Diversified Restaurant Holdings, Inc.*
Trans World Entertainment Corp.*
Beasley Broadcasting Group, Inc. — Class A
Total Consumer Discretionary
Health Care - 10.2%
athenahealth, Inc.*
Isis Pharmaceuticals, Inc.*
Align Technology, Inc.*
Alnylam Pharmaceuticals, Inc.*
West Pharmaceutical Services, Inc.
ViroPharma, Inc.*
Medidata Solutions, Inc.*
Centene Corp.*
Team Health Holdings, Inc.*
Cepheid, Inc.*
NPS Pharmaceuticals, Inc.*
WellCare Health Plans, Inc.*
HealthSouth Corp.
STERIS Corp.
Questcor Pharmaceuticals, Inc.1
PAREXEL International Corp.*
DexCom, Inc.*
Medicines Co.*
Owens & Minor, Inc.
Air Methods Corp.*
Puma Biotechnology, Inc.*
Celldex Therapeutics, Inc.*
MWI Veterinary Supply, Inc.*
Haemonetics Corp.*
Thoratec Corp.*
72
1,161
275
379
94
453
73
39
260
268
151
100
278
321
419
93
160
508
351
117
250
147
69
156
359
126
137
94
150
103
139
843
132
243
158
152
68
533
1,641
1,065
847
1,014
956
783
797
1,009
977
1,464
631
1,272
864
762
831
1,032
925
924
572
320
1,305
185
747
834
Value
$
2,213
2,067
2,054
2,050
2,012
1,971
1,967
1,966
1,947
1,932
1,919
1,909
1,871
1,859
1,831
1,814
1,800
1,793
1,748
1,713
1,695
1,683
1,677
1,568
1,508
1,496
1,491
1,363
1,305
1,288
1,151
1,037
1,012
957
754
672
594
3,358,189
71,688
65,376
60,864
54,488
49,746
47,656
47,426
46,983
45,959
45,645
44,447
44,435
42,382
41,516
41,490
37,544
36,543
35,724
33,782
33,365
33,130
31,594
31,559
31,471
30,524
Aegerion Pharmaceuticals, Inc.*
HMS Holdings Corp.*
Insulet Corp.*
Prestige Brands Holdings, Inc.*
Cyberonics, Inc.*
Santarus, Inc.*
ACADIA Pharmaceuticals, Inc.*
Impax Laboratories, Inc.*
Acadia Healthcare Company, Inc.*
Neogen Corp.*
Magellan Health Services, Inc.*
Opko Health, Inc.*,1
Pacira Pharmaceuticals, Inc.*
HeartWare International, Inc.*
Amsurg Corp. — Class A*
Akorn, Inc.*
Masimo Corp.*
NuVasive, Inc.*
Chemed Corp.
Hanger, Inc.*
Halozyme Therapeutics, Inc.*
InterMune, Inc.*
Nektar Therapeutics*
Arena Pharmaceuticals, Inc.*,1
Synageva BioPharma Corp.*
ImmunoGen, Inc.*
Wright Medical Group, Inc.*
MedAssets, Inc.*
Volcano Corp.*
Acorda Therapeutics, Inc.*
CONMED Corp.
PDL BioPharma, Inc.1
ArthroCare Corp.*
Exelixis, Inc.*
Cantel Medical Corp.
Meridian Bioscience, Inc.
Globus Medical, Inc. — Class A*
Endologix, Inc.*
Integra LifeSciences Holdings Corp.*
Ironwood Pharmaceuticals, Inc. — Class A*
423
1,285
786
752
408
815
1,023
1,003
518
521
392
2,756
402
240
468
855
717
643
263
509
1,303
1,313
1,688
3,188
285
1,238
587
892
801
597
410
2,048
414
2,692
479
611
799
922
333
1,359
30,016
29,208
29,161
26,922
26,728
26,047
25,565
25,215
24,516
23,810
23,485
23,261
23,111
22,550
21,491
21,059
20,958
20,788
20,151
20,024
19,532
19,340
19,159
18,650
18,445
18,161
18,027
17,688
17,502
17,432
17,425
17,285
16,659
16,502
16,243
16,210
16,124
16,080
15,887
15,778
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Health Care - 10.2% (continued)
Analogic Corp.
Kindred Healthcare, Inc.
Clovis Oncology, Inc.*
Keryx Biopharmaceuticals, Inc.*
Greatbatch, Inc.*
ABIOMED, Inc.*
Auxilium Pharmaceuticals, Inc.*
Spectranetics Corp.*
Molina Healthcare, Inc.*
IPC The Hospitalist Company, Inc.*
Fluidigm Corp.*
Novavax, Inc.*
Ligand Pharmaceuticals, Inc. — Class B*
Vivus, Inc.*,1
Dyax Corp.*
ExamWorks Group, Inc.*
Abaxis, Inc.*
Emeritus Corp.*
Omnicell, Inc.*
Ensign Group, Inc.
Quidel Corp.*
Quality Systems, Inc.
Sangamo Biosciences, Inc.*
Cardiovascular Systems, Inc.*
Momenta Pharmaceuticals, Inc.*
Exact Sciences Corp.*
ICU Medical, Inc.*
MiMedx Group, Inc.*
MannKind Corp.*
Raptor Pharmaceutical Corp.*
Sarepta Therapeutics, Inc.*
Invacare Corp.
Luminex Corp.*
Natus Medical, Inc.*
Capital Senior Living Corp.*
AMN Healthcare Services, Inc.*
Computer Programs & Systems, Inc.
Merit Medical Systems, Inc.*
Infinity Pharmaceuticals, Inc.*
HealthStream, Inc.*
Accuray, Inc.*
PharMerica Corp.*
Lannett Company, Inc.*
Neurocrine Biosciences, Inc.*
Emergent Biosolutions, Inc.*
Bio-Reference Labs, Inc.*
Array BioPharma, Inc.*
Geron Corp.*
Affymetrix, Inc.*
NxStage Medical, Inc.*
Idenix Pharmaceuticals, Inc.*,1
Depomed, Inc.*
National Healthcare Corp.
Staar Surgical Co.*
Insmed, Inc.*
Orexigen Therapeutics, Inc.*
Select Medical Holdings Corp.
Spectrum Pharmaceuticals, Inc.*
Cadence Pharmaceuticals, Inc.*
Corvel Corp.*
Accretive Health, Inc.*
Cambrex Corp.*
Healthways, Inc.*
178
794
258
1,194
346
565
723
595
416
243
373
2,724
256
1,474
1,774
443
328
592
501
284
407
587
890
355
686
1,032
187
1,329
2,176
870
548
465
551
446
417
678
160
618
699
291
1,085
434
278
979
397
356
1,805
1,906
1,043
878
1,457
823
161
535
508
1,479
710
926
900
172
862
442
504
313
Value
$
15,764
15,674
15,550
15,462
15,307
15,108
14,995
14,875
14,456
14,432
14,292
13,947
13,466
13,384
13,358
13,232
13,127
12,805
12,791
12,573
12,572
12,362
12,362
12,173
12,128
12,064
11,914
11,615
11,337
11,327
11,163
10,793
10,689
10,035
10,004
9,967
9,890
9,727
9,653
9,536
9,450
9,331
9,202
9,144
9,127
9,092
9,043
9,034
8,939
8,780
8,713
8,707
8,680
8,662
8,641
8,327
8,243
8,195
8,145
8,032
7,896
7,881
7,736
7,597
AMAG Pharmaceuticals, Inc.*
XOMA Corp.*
Cynosure, Inc. — Class A*
Merrimack Pharmaceuticals, Inc.*
Dynavax Technologies Corp.*
Galena Biopharma, Inc.*,1
Antares Pharma, Inc.*
Landauer, Inc.
Intercept Pharmaceuticals, Inc.*
Tornier N.V.*
AVANIR Pharmaceuticals, Inc. — Class A*
Atrion Corp.
Genomic Health, Inc.*
Hi-Tech Pharmacal Company, Inc.*
GenMark Diagnostics, Inc.*
Sagent Pharmaceuticals, Inc.*
Anika Therapeutics, Inc.*
Dendreon Corp.*,1
Triple-S Management Corp. — Class B*
Amedisys, Inc.*
Synergy Pharmaceuticals, Inc.*
Cerus Corp.*
TherapeuticsMD, Inc.*
KYTHERA Biopharmaceuticals, Inc.*
Orthofix International N.V.*
Repligen Corp.*
BioScrip, Inc.*
Unilife Corp.*
Anacor Pharmaceuticals, Inc.*
AngioDynamics, Inc.*
Repros Therapeutics, Inc.*
Vanda Pharmaceuticals, Inc.*
US Physical Therapy, Inc.
Lexicon Pharmaceuticals, Inc.*
Rockwell Medical, Inc.*
Horizon Pharma, Inc.*
Surgical Care Affiliates, Inc.*
TESARO, Inc.*
AtriCure, Inc.*
Prothena Corporation plc*
Gentiva Health Services, Inc.*
Vascular Solutions, Inc.*
Symmetry Medical, Inc.*
NewLink Genetics Corp.*
OraSure Technologies, Inc.*
1,128
284
1,415
3,842
1,495
1,644
138
106
382
2,121
24
241
162
525
273
181
2,305
351
458
1,176
1,024
1,260
176
282
464
848
1,419
369
360
335
489
172
3,328
572
751
164
201
303
213
455
243
545
248
817
7,591
7,577
7,556
7,530
7,415
7,365
7,260
7,238
7,178
7,127
7,110
7,054
7,029
6,988
6,929
6,907
6,892
6,823
6,701
6,621
6,605
6,565
6,556
6,435
6,329
6,275
6,244
6,192
6,188
6,131
6,068
6,065
5,990
5,972
5,723
5,714
5,676
5,660
5,649
5,647
5,625
5,494
5,458
5,139
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Health Care - 10.2% (continued)
ZIOPHARM Oncology, Inc.*
Chelsea Therapeutics International Ltd.*
SurModics, Inc.*
Zogenix, Inc.*
Omeros Corp.*
Immunomedics, Inc.*
Zeltiq Aesthetics, Inc.*
Vocera Communications, Inc.*
Endocyte, Inc.*
Achillion Pharmaceuticals, Inc.*
Progenics Pharmaceuticals, Inc.*
CryoLife, Inc.
LHC Group, Inc.*
Universal American Corp.
Ophthotech Corp.*
Portola Pharmaceuticals, Inc.*
Providence Service Corp.*
Furiex Pharmaceuticals, Inc.*
SciClone Pharmaceuticals, Inc.*
TearLab Corp.*
Sequenom, Inc.*
Intrexon Corp.*
Cross Country Healthcare, Inc.*
Almost Family, Inc.*
Osiris Therapeutics, Inc.*
AcelRx Pharmaceuticals, Inc.*
Synta Pharmaceuticals Corp.*,1
XenoPort, Inc.*
Pacific Biosciences of California, Inc.*
Cell Therapeutics, Inc.*
Rigel Pharmaceuticals, Inc.*
Navidea Biopharmaceuticals, Inc.*
Cempra, Inc.*
Acceleron Pharma, Inc.*
Curis, Inc.*
Albany Molecular Research, Inc.*
Tandem Diabetes Care, Inc.*
Five Star Quality Care, Inc.*
Exactech, Inc.*
Peregrine Pharmaceuticals, Inc.*
Threshold Pharmaceuticals, Inc.*
Ampio Pharmaceuticals, Inc.*
Chindex International, Inc.*
Pozen, Inc.
Solta Medical, Inc.*
Insys Therapeutics, Inc.*
Verastem, Inc.*
RTI Surgical, Inc.*
Stemline Therapeutics, Inc.*
Tetraphase Pharmaceuticals, Inc.*
National Research Corp. — Class A*
Karyopharm Therapeutics, Inc.*
BioDelivery Sciences International, Inc.*
Utah Medical Products, Inc.
PhotoMedex, Inc.*
Cytokinetics, Inc.*
Hyperion Therapeutics, Inc.*
Corcept Therapeutics, Inc.*
Durata Therapeutics, Inc.*
Foundation Medicine, Inc.*
Agios Pharmaceuticals, Inc.*
Receptos, Inc.*
Cytori Therapeutics, Inc.*
1,178
1,152
206
1,437
437
1,070
254
306
445
1,412
870
406
172
559
126
158
157
96
794
425
1,681
165
393
121
243
341
728
637
698
1,899
1,272
1,750
288
90
1,258
341
133
623
142
2,346
689
451
182
393
1,041
79
256
824
142
201
141
115
438
45
195
387
124
774
194
104
100
82
921
Value
$
5,113
5,103
5,024
4,943
4,934
4,922
4,803
4,777
4,757
4,688
4,637
4,503
4,135
4,081
4,076
4,069
4,038
4,033
4,002
3,970
3,934
3,927
3,922
3,912
3,907
3,857
3,815
3,663
3,651
3,646
3,625
3,623
3,568
3,564
3,548
3,437
3,427
3,420
3,374
3,261
3,218
3,216
3,172
3,160
3,071
3,058
2,918
2,917
2,783
2,718
2,654
2,636
2,580
2,572
2,525
2,516
2,507
2,492
2,481
2,477
2,395
2,377
2,367
PTC Therapeutics, Inc.*
MacroGenics, Inc.*
Relypsa, Inc.*
Sunesis Pharmaceuticals, Inc.*
Merge Healthcare, Inc.*
Derma Sciences, Inc.*
Cutera, Inc.*
Aerie Pharmaceuticals, Inc.*
Bluebird Bio, Inc.*
ChemoCentryx, Inc.*
OncoMed Pharmaceuticals, Inc.*
Accelerate Diagnostics, Inc.*,1
LDR Holding Corp.*
Biotime, Inc.*
Sucampo Pharmaceuticals, Inc. — Class A*
Aratana Therapeutics, Inc.*
Arqule, Inc.*
Nanosphere, Inc.*
Chimerix, Inc.*
Alphatec Holdings, Inc.*
Medical Action Industries, Inc.*
Oxford Immunotec Global plc*
Supernus Pharmaceuticals, Inc.*
OncoGenex Pharmaceutical, Inc.*
Addus HomeCare Corp.*
Harvard Bioscience, Inc.*
SIGA Technologies, Inc.*
Epizyme, Inc.*
NeoGenomics, Inc.*
Alliance HealthCare Services, Inc.*
Targacept, Inc.*
Enanta Pharmaceuticals, Inc.*
Five Prime Therapeutics, Inc.*
Biolase, Inc.*
AVEO Pharmaceuticals, Inc.*
Skilled Healthcare Group, Inc. — Class A*
MEI Pharma, Inc.*
Fibrocell Science, Inc.*
Vical, Inc.*
Cornerstone Therapeutics, Inc.*
OvaScience, Inc.*
BIND Therapeutics, Inc.*
Alimera Sciences, Inc.*
Regulus Therapeutics, Inc.*
Onconova Therapeutics, Inc.*
138
85
93
473
958
200
211
118
100
359
69
166
85
536
204
100
866
803
121
907
211
93
238
214
79
375
538
84
477
69
405
58
85
500
759
290
174
330
1,114
129
129
78
244
149
92
2,342
2,332
2,325
2,242
2,223
2,164
2,148
2,119
2,098
2,079
2,037
2,025
2,006
1,930
1,918
1,910
1,862
1,839
1,828
1,823
1,806
1,802
1,795
1,785
1,774
1,763
1,759
1,747
1,727
1,707
1,681
1,582
1,427
1,414
1,397
1,395
1,394
1,340
1,315
1,224
1,179
1,177
1,149
1,101
1,056
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Health Care - 10.2% (continued)
Amicus Therapeutics, Inc.*
Veracyte, Inc.*
Coronado Biosciences, Inc.*
Esperion Therapeutics, Inc.*
Cellular Dynamics International, Inc.*
TG Therapeutics, Inc.*
KaloBios Pharmaceuticals, Inc.*
Pernix Therapeutics Holdings*
Enzon Pharmaceuticals, Inc.
GTx, Inc.*
Conatus Pharmaceuticals, Inc.*
Harvard Apparatus Regenerative Technology, Inc.*
USMD Holdings, Inc.*
Total Health Care
Energy - 4.2%
Kodiak Oil & Gas Corp.*
Rosetta Resources, Inc.*
Targa Resources Corp.
SemGroup Corp. — Class A
Bristow Group, Inc.
Helix Energy Solutions Group, Inc.*
CARBO Ceramics, Inc.
Western Refining, Inc.
Scorpio Tankers, Inc.
Energy XXI Bermuda Ltd.
Carrizo Oil & Gas, Inc.*
Exterran Holdings, Inc.*
PDC Energy, Inc.*
SEACOR Holdings, Inc.*
Hornbeck Offshore Services, Inc.*
Stone Energy Corp.*
Crosstex Energy, Inc.
Alpha Natural Resources, Inc.*
Bill Barrett Corp.*
Bonanza Creek Energy, Inc.*
Delek US Holdings, Inc.
Magnum Hunter Resources Corp.*
Gulfmark Offshore, Inc. — Class A
Geospace Technologies Corp.*
Key Energy Services, Inc.*
Forum Energy Technologies, Inc.*
Cloud Peak Energy, Inc.*
Matador Resources Co.*
Newpark Resources, Inc.*
Hercules Offshore, Inc.*
C&J Energy Services, Inc.*
Diamondback Energy, Inc.*
TETRA Technologies, Inc.*
Parker Drilling Co.*
Northern Oil and Gas, Inc.*
Arch Coal, Inc.
Sanchez Energy Corp.*
Ship Finance International Ltd.
Halcon Resources Corp.*,1
Rex Energy Corp.*
Clean Energy Fuels Corp.*
Comstock Resources, Inc.
EPL Oil & Gas, Inc.*
Nordic American Tankers Ltd.
EXCO Resources, Inc.
Contango Oil & Gas Co.*
Approach Resources, Inc.*
Matrix Service Co.*
Era Group, Inc.*
Resolute Energy Corp.*
445
72
388
72
55
228
175
254
547
383
92
93
17
3,881
894
479
614
529
1,545
292
795
2,698
1,159
663
838
523
295
525
735
701
3,227
713
429
539
2,514
387
187
2,224
571
890
855
1,256
2,330
656
282
1,145
1,739
935
3,108
560
816
3,383
662
1,001
704
440
1,096
1,981
215
511
381
295
992
Value
$
1,046
1,044
1,020
989
908
889
774
640
635
632
593
442
342
3,231,528
43,505
42,947
42,234
40,051
39,707
35,813
34,027
33,715
31,809
31,362
29,682
28,660
27,834
26,904
25,846
25,424
25,348
23,041
19,094
18,649
18,547
18,377
18,239
17,733
17,570
16,136
16,020
15,937
15,436
15,215
15,154
14,907
14,152
14,138
14,090
13,831
13,726
13,366
13,058
13,048
12,893
12,876
12,540
10,631
10,519
10,161
9,857
9,323
9,104
8,958
Tesco Corp.*
RigNet, Inc.*
Swift Energy Co.*
Triangle Petroleum Corp.*
W&T Offshore, Inc.
Athlon Energy, Inc.*
Goodrich Petroleum Corp.*
PHI, Inc.*
Penn Virginia Corp.*
Solazyme, Inc.*,1
Pioneer Energy Services Corp.*
Green Plains Renewable Energy, Inc.
Clayton Williams Energy, Inc.*
Basic Energy Services, Inc.*
Synergy Resources Corp.*
ION Geophysical Corp.*
GasLog Ltd.
Emerald Oil, Inc.*
Forest Oil Corp.*
Vaalco Energy, Inc.*
Rentech, Inc.*
Gastar Exploration, Inc.*
Alon USA Energy, Inc.
Quicksilver Resources, Inc.*,1
Willbros Group, Inc.*
Vantage Drilling Co.*
Natural Gas Services Group, Inc.*
Gulf Island Fabrication, Inc.
Knightsbridge Tankers Ltd.
Dawson Geophysical Co.*
Abraxas Petroleum Corp.*
Callon Petroleum Co.*
Endeavour International Corp.*
Nuverra Environmental Solutions, Inc.*
PetroQuest Energy, Inc.*
Teekay Tankers Ltd. — Class A
Renewable Energy Group, Inc.*
REX American Resources Corp.*
Panhandle Oil and Gas, Inc. — Class A
Mitcham Industries, Inc.*
Warren Resources, Inc.*
441
178
630
997
507
266
459
180
810
697
911
375
86
440
743
1,943
374
827
1,746
848
3,305
815
340
1,825
586
2,935
185
208
446
117
1,200
583
692
214
831
913
313
78
104
193
1,066
8,723
8,532
8,505
8,295
8,112
8,047
7,812
7,812
7,638
7,590
7,297
7,271
7,048
6,943
6,880
6,412
6,392
6,335
6,303
5,843
5,784
5,640
5,624
5,603
5,520
5,400
5,100
4,830
4,099
3,957
3,936
3,807
3,633
3,593
3,590
3,588
3,587
3,487
3,475
3,418
3,347
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Energy - 4.2% (continued)
Westmoreland Coal Co.*
Midstates Petroleum Company, Inc.*
Miller Energy Resources, Inc.*
BPZ Resources, Inc.*
Evolution Petroleum Corp.
Cal Dive International, Inc.*
FX Energy, Inc.*
Frontline Ltd.*,1
Bolt Technology Corp.
Equal Energy Ltd.
Uranium Energy Corp.*
Ur-Energy, Inc.*
Jones Energy, Inc. — Class A*
Adams Resources & Energy, Inc.
Apco Oil and Gas International, Inc.*
Amyris, Inc.*
TGC Industries, Inc.
Isramco, Inc.*
KiOR, Inc. — Class A*
Hallador Energy Co.
L&L Energy, Inc.*,††
Global Geophysical Services, Inc.*
ZaZa Energy Corp.*
Total Energy
Materials - 3.8%
PolyOne Corp.
Axiall Corp.
Chemtura Corp.*
HB Fuller Co.
Louisiana-Pacific Corp.*
Sensient Technologies Corp.
Commercial Metals Co.
Olin Corp.
KapStone Paper and Packaging Corp.*
Worthington Industries, Inc.
Minerals Technologies, Inc.
Graphic Packaging Holding Co.*
Balchem Corp.
Schweitzer-Mauduit International, Inc.
SunCoke Energy, Inc.*
Texas Industries, Inc.*
Stillwater Mining Co.*
Kaiser Aluminum Corp.
Berry Plastics Group, Inc.*
Stepan Co.
PH Glatfelter Co.
Globe Specialty Metals, Inc.
OM Group, Inc.*
Calgon Carbon Corp.*
Resolute Forest Products, Inc.*
AK Steel Holding Corp.*
Clearwater Paper Corp.*
Coeur Mining, Inc.*
Innospec, Inc.
Innophos Holdings, Inc.
RTI International Metals, Inc.*
A. Schulman, Inc.
Walter Energy, Inc.
Hecla Mining Co.
Quaker Chemical Corp.
Flotek Industries, Inc.*
Koppers Holdings, Inc.
AMCOL International Corp.
Ferro Corp.*
Intrepid Potash, Inc.*
Schnitzer Steel Industries, Inc. — Class A
172
490
449
1,728
246
1,432
786
752
127
517
1,246
1,773
168
31
135
383
234
11
646
130
480
334
546
1,450
1,025
1,441
733
2,041
736
1,706
1,179
601
774
511
2,864
437
456
1,022
323
1,723
278
810
281
628
943
465
794
1,019
1,990
310
1,484
348
326
461
435
914
4,865
194
698
305
409
1,058
800
379
Value
$
3,318
3,244
3,161
3,145
3,036
2,878
2,877
2,812
2,795
2,761
2,492
2,447
2,433
2,124
2,105
2,026
1,708
1,398
1,085
1,048
806
538
522
1,330,761
51,257
48,626
40,232
38,145
37,779
35,711
34,684
34,014
33,572
32,570
30,696
27,494
25,652
23,470
23,311
22,215
21,262
19,526
19,269
18,442
17,358
16,983
16,931
16,333
16,324
16,318
16,275
16,101
16,085
15,844
15,771
15,338
15,200
14,984
14,952
14,009
13,954
13,898
13,574
12,672
12,382
Molycorp, Inc.*
Horsehead Holding Corp.*
LSB Industries, Inc.*
Kraton Performance Polymers, Inc.*
Deltic Timber Corp.
US Silica Holdings, Inc.
Headwaters, Inc.*
Tredegar Corp.
Neenah Paper, Inc.
American Vanguard Corp.
Haynes International, Inc.
Materion Corp.
Wausau Paper Corp.
Myers Industries, Inc.
Advanced Emissions Solutions, Inc.*
Century Aluminum Co.*
Zoltek Companies, Inc.*
OMNOVA Solutions, Inc.*
Zep, Inc.
Allied Nevada Gold Corp.*
Boise Cascade Co.*
Hawkins, Inc.
FutureFuel Corp.
US Concrete, Inc.*
Taminco Corp.*
Landec Corp.*
Olympic Steel, Inc.
AM Castle & Co.*
Universal Stainless & Alloy Products, Inc.*
Arabian American Development Co.*
AEP Industries, Inc.*
Chase Corp.
American Pacific Corp.*
Gold Resource Corp.
KMG Chemicals, Inc.
United States Lime & Minerals, Inc.*
UFP Technologies, Inc.*
Paramount Gold and Silver Corp.*
Handy & Harman Ltd.*
Penford Corp.*
2,172
737
282
480
161
312
1,066
358
238
417
180
302
723
414
154
749
406
687
333
1,522
181
142
323
209
234
382
134
261
106
295
67
99
84
488
120
33
80
2,020
76
138
12,207
11,947
11,568
11,064
10,938
10,642
10,436
10,314
10,179
10,129
9,943
9,317
9,168
8,744
8,351
7,835
6,801
6,259
6,047
5,403
5,336
5,281
5,103
4,730
4,729
4,630
3,883
3,855
3,822
3,702
3,540
3,495
3,130
2,211
2,027
2,019
2,018
1,882
1,840
1,773
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Materials - 3.8% (continued)
Noranda Aluminum Holding Corp.
Marrone Bio Innovations, Inc.*
Midway Gold Corp.*
General Moly, Inc.*
GSE Holding, Inc.*
Total Materials
Consumer Staples - 2.9%
United Natural Foods, Inc.*
Rite Aid Corp.*
Hain Celestial Group, Inc.*
Darling International, Inc.*
Casey's General Stores, Inc.
TreeHouse Foods, Inc.*
Harris Teeter Supermarkets, Inc.
PriceSmart, Inc.
Boston Beer Company, Inc. — Class A*
B&G Foods, Inc. — Class A
Sanderson Farms, Inc.
Andersons, Inc.
Lancaster Colony Corp.
Post Holdings, Inc.*
Spectrum Brands Holdings, Inc.
SUPERVALU, Inc.*
Snyders-Lance, Inc.
J&J Snack Foods Corp.
Universal Corp.
Susser Holdings Corp.*
WD-40 Co.
Fresh Del Monte Produce, Inc.
Vector Group Ltd.
Pilgrim's Pride Corp.*
Boulder Brands, Inc.*
Elizabeth Arden, Inc.*
Cal-Maine Foods, Inc.
Spartan Stores, Inc.
Seaboard Corp.
Tootsie Roll Industries, Inc.1
Annie's, Inc.*
Inter Parfums, Inc.
Weis Markets, Inc.
Diamond Foods, Inc.*
Chiquita Brands International, Inc.*
Chefs' Warehouse, Inc.*
USANA Health Sciences, Inc.*
Pantry, Inc.*
Harbinger Group, Inc.*
Natural Grocers by Vitamin Cottage, Inc.*
Calavo Growers, Inc.
Medifast, Inc.*
Coca-Cola Bottling Company Consolidated
Ingles Markets, Inc. — Class A
Central Garden and Pet Co. — Class A*
Fairway Group Holdings Corp.*
Revlon, Inc. — Class A*
Limoneira Co.
Alliance One International, Inc.*
Seneca Foods Corp. — Class A*
Omega Protein Corp.*
Roundy's, Inc.
Nutraceutical International Corp.*
National Beverage Corp.*
John B Sanfilippo & Son, Inc.
Orchids Paper Products Co.
Village Super Market, Inc. — Class A
Nature's Sunshine Products, Inc.
Star Scientific, Inc.*,1
489
76
1,638
839
113
723
10,674
559
2,310
556
528
724
276
124
774
338
271
273
475
312
2,969
698
223
346
262
228
554
923
890
873
374
217
537
4
283
205
241
163
325
681
242
88
342
482
128
178
201
69
170
610
226
164
150
1,280
119
296
364
127
162
120
88
93
164
2,435
Value
$
1,609
1,351
1,327
1,124
234
1,201,156
54,507
54,010
50,745
48,232
39,060
36,389
35,729
31,889
29,982
26,245
24,447
24,165
24,065
23,403
22,011
21,644
20,047
19,756
18,891
17,158
17,027
15,678
15,110
14,463
13,846
13,259
13,070
13,038
11,180
9,209
8,823
8,631
8,567
8,398
7,968
7,057
6,651
5,739
5,712
5,434
5,386
5,252
5,050
4,607
4,118
4,095
4,093
3,989
3,904
3,795
3,638
3,589
3,401
3,266
2,962
2,890
2,884
2,840
2,825
Arden Group, Inc. — Class A
Inventure Foods, Inc.*
Female Health Co.
Oil-Dri Corporation of America
Craft Brew Alliance, Inc.*
Lifevantage Corp.*
Synutra International, Inc.*
Farmer Bros Co.*
Alico, Inc.
Griffin Land & Nurseries, Inc.
Lifeway Foods, Inc.
Total Consumer Staples
Utilities - 2.3%
Cleco Corp.
Southwest Gas Corp.
IDACORP, Inc.
Piedmont Natural Gas Company, Inc.
UNS Energy Corp.
Black Hills Corp.
Portland General Electric Co.
UIL Holdings Corp.
Dynegy, Inc.*
WGL Holdings, Inc.
ALLETE, Inc.
New Jersey Resources Corp.
PNM Resources, Inc.
South Jersey Industries, Inc.
Avista Corp.
NorthWestern Corp.
Laclede Group, Inc.
El Paso Electric Co.
MGE Energy, Inc.
Northwest Natural Gas Co.
American States Water Co.
California Water Service Group
Otter Tail Corp.
Empire District Electric Co.
NRG Yield, Inc. — Class A
Chesapeake Utilities Corp.
Pattern Energy Group, Inc.
Ormat Technologies, Inc.
22
209
317
71
154
1,499
252
87
41
40
64
2,783
2,771
2,695
2,687
2,529
2,473
2,238
2,024
1,594
1,335
1,023
927,971
889
681
732
1,101
609
648
1,105
831
1,466
755
580
614
1,170
464
874
554
481
586
337
390
561
695
534
621
334
137
266
254
41,446
38,075
37,948
36,509
36,450
34,027
33,371
32,201
31,549
30,245
28,930
28,391
28,220
25,965
24,638
23,999
21,905
20,574
19,512
16,700
16,117
16,034
15,630
14,090
13,363
8,223
8,062
6,911
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Shares
COMMON STOCKS† - 77.1% (continued)
Utilities - 2.3% (continued)
SJW Corp.
Unitil Corp.
Atlantic Power Corp.
Connecticut Water Service, Inc.
Middlesex Water Co.
York Water Co.
Consolidated Water Company Ltd.
Artesian Resources Corp. — Class A
Delta Natural Gas Company, Inc.
Genie Energy Ltd. — Class B*
Pure Cycle Corp.*
Total Utilities
Telecommunication Services - 0.6%
Cogent Communications Group, Inc.
Leap Wireless International, Inc.*
8x8, Inc.*
Consolidated Communications Holdings, Inc.
Cincinnati Bell, Inc.*
Shenandoah Telecommunications Co.
Premiere Global Services, Inc.*
Atlantic Tele-Network, Inc.
Vonage Holdings Corp.*
NII Holdings, Inc.*
inContact, Inc.*
Iridium Communications, Inc.*
Inteliquent, Inc.
General Communication, Inc. — Class A*
Lumos Networks Corp.
NTELOS Holdings Corp.
Hawaiian Telcom Holdco, Inc.*
USA Mobility, Inc.
IDT Corp. — Class B
Fairpoint Communications, Inc.*
ORBCOMM, Inc.*
magicJack VocalTec Ltd.*
Towerstream Corp.*
Cbeyond, Inc.*
HickoryTech Corp.
RingCentral, Inc. — Class A*
Boingo Wireless, Inc.*
Straight Path Communications, Inc. — Class B*
Total Telecommunication Services
Total Common Stocks
(Cost $16,557,547)
WARRANTS†† - 0.0%
Tejon Ranch Co.
$10.50, 08/31/16*,†
Magnum Hunter Resources Corp.
$8.50, 04/15/16*,1
Total Warrants
(Cost $344)
RIGHTS†† - 0.0%
Cubist Pharmaceuticals, Inc.
Expires 10/15/15*
EXCO Resources Inc.
Expires 01/11/14*
Omthera Pharmaceuticals, Inc.
Expires 12/31/20*
Total Rights
(Cost $1,537)
225
201
1,756
159
235
187
210
107
105
192
252
686
793
1,278
582
3,044
351
699
135
2,272
2,512
782
935
481
460
228
228
156
314
227
303
533
267
968
389
202
129
269
116
Value
$
6,703
6,128
6,111
5,646
4,921
3,914
2,961
2,456
2,350
1,960
1,595
733,830
27,722
13,798
12,985
11,425
10,837
9,010
8,101
7,637
7,566
6,908
6,107
5,853
5,493
5,129
4,788
4,612
4,582
4,484
4,056
3,427
3,379
3,183
2,865
2,684
2,592
2,370
1,724
950
184,267
24,424,230
54
289
282
–
289
729
984
1,111
178
57
34
1,196
Face
Amount
REPURCHASE AGREEMENTS††,2 - 66.4%
Mizuho Financial Group, Inc.
issued 12/31/13 at 0.01%
due 01/02/14
$
15,478,058
15,478,058
HSBC Group
issued 12/31/13 at 0.01%
due 01/02/14
Deutsche Bank
issued 12/31/13 at 0.01%
due 01/02/14
Credit Suisse Group
issued 12/31/13 at 0.00%
due 01/02/143
Total Repurchase Agreements
(Cost $21,003,694)
SECURITIES LENDING COLLATERAL††,4 - 0.8%
Repurchase Agreements
HSBC Securities, Inc.
issued 12/31/13 at 0.01%
due 01/02/14
Deutsche Bank Securities, Inc.
issued 12/31/13 at 0.02%
due 01/02/14
Total Securities Lending Collateral
(Cost $263,329)
Total Investments - 144.3%
(Cost $37,826,451)
Other Assets & Liabilities, net - (44.3)%
Total Net Assets - 100.0%
2,496,565
2,496,565
1,549,461
1,549,461
1,479,610
1,479,610
21,003,694
229,501
229,501
33,828
33,828
263,329
$
$
Unrealized
Gain
Units
EQUITY INDEX SWAP AGREEMENTS††
Barclays Bank plc
January 2014 Russell 2000 Index Swap,
Terminating 01/31/145
(Notional Value $5,759,627)
Goldman Sachs International
January 2014 Russell 2000 Index Swap,
Terminating 01/28/145
(Notional Value $9,116,768)
4,950
7,835
45,692,738
(14,037,731)
31,655,007
$
17,791
14,970
Russell 2000® 1.5x Strategy Fund
SCHEDULE OF INVESTMENTS (Unaudited)
December 31, 2013
Unrealized
Gain
Units
EQUITY INDEX SWAP AGREEMENTS††
Credit Suisse Capital, LLC
January 2014 Russell 2000 Index Swap,
Terminating 01/28/145
(Notional Value $8,242,115)
(Total Notional Value $23,118,510)
*
†
††
1
2
3
4
5
Non-income producing security.
Value determined based on Level 1 inputs, unless otherwise noted.
Value determined based on Level 2 inputs.
All or portion of this security is on loan at December 31, 2013.
Repurchase Agreements.
All or a portion of this security is pledged as equity index swap collateral at December 31, 2013.
Securities lending collateral.
Total Return based on Russell 2000 Index +/- financing at a variable rate.
plc — Public Limited Company
REIT — Real Estate Investment Trust
7,083
$
$
13,922
46,683