Pzena Small Cap Value Fund
Schedule of Investments - November 30, 2023 (Unaudited)
Shares			Fair Value
		Common Stocks —97.1%
		Basic Materials — 7.6%
	13,714	Koppers Holdings, Inc.	$	619,461
	29,778	Olin Corp.		1,403,735
	60,804	Orion S.A.		1,448,959
				3,472,155
		Consumer Discretionary — 19.3%
	31,696	Adient PLC (a)		1,020,611
	12,125	Advance Auto Parts, Inc.		615,829
	73,035	Dana, Inc.		964,792
	64,853	Gap, Inc.		1,301,600
	14,584	Genesco, Inc. (a)		545,004
	25,790	Hooker Furnishings Corp.		461,125
	70,280	Interface, Inc.		710,531
	86,731	Newell Brands, Inc.		661,757
	10,346	PVH Corp.		1,011,632
	122,328	Steelcase, Inc. - Class A		1,505,858
				8,798,739
		Consumer Staples — 6.4%
	13,241	Spectrum Brands Holdings, Inc.		917,999
	21,602	Universal Corp.		1,215,328
	16,607	USANA Health Sciences, Inc. (a)		784,847
				2,918,174
		Energy — 5.7%
	133,028	MRC Global, Inc. (a)		1,375,510
	65,171	NOV, Inc.		1,226,518
				2,602,028
		Financials — 22.1%
	5,917	American Equity Investment Life Holding Co. (a)		326,382
	61,831	Associated Banc-Corp.		1,096,882
	23,923	Axis Capital Holdings, Ltd. (b)		1,347,822
	69,462	CNO Financial Group, Inc.		1,840,743
	48,113	Columbia Banking System, Inc.		1,079,174
	77,126	Old National Bancorp of Indiana		1,148,406
	18,040	Synovus Financial Corp.		555,452
	37,991	Univest Financial Corp.		717,650
	25,712	Webster Financial Corp.		1,153,183
	22,040	WSFS Financial Corp.		850,083
				10,115,777
		Health Care — 1.7%
	34,533	Phibro Animal Health Corp. - Class A		331,172
	23,184	Varex Imaging Corp. (a)		437,018
				768,190
		Industrials — 28.8%
	11,947	American Woodmark Corp. (a)		864,963
	29,079	Axalta Coating Systems, Ltd. (a)		915,116
	16,238	Belden, Inc.		1,078,853
	15,549	Bread Financial Holdings, Inc.		436,927
	13,673	GMS, Inc. (a)		924,842
	77,126	JELD-WEN Holding, Inc. (a)		1,232,473
	17,890	Korn Ferry		925,628
	15,902	Masonite International Corp. (a)		1,412,893
	54,126	Masterbrand, Inc. (a)		726,371
	82,288	Resideo Technologies, Inc. (a)		1,351,992
	62,329	REV Group, Inc.		984,175
	1,891	Terex Corp.		93,604
	54,823	TriMas Corp.		1,405,113
	56,387	TrueBlue, Inc. (a)		786,035
				13,138,985
		Real Estate — 0.3%
	4,800	Marcus & Millichap, Inc.		165,168
		Technology — 5.2%
	23,376	Avnet, Inc.		1,093,062
	37,958	ScanSource, Inc. (a)		1,268,936
				2,361,998
		Total Common Stocks (Cost $43,939,108)		44,341,214
		REIT —1.4%
		Real Estate — 1.4%
	77,338	DiamondRock Hospitality Co.		643,452
		Total REIT (Cost $700,025)		643,452
		Short-Term Investment — 1.4% Money Market Fund — 1.4%
	618,624	Fidelity Institutional Government Portfolio, Institutional Class, 5.24% (c)		618,624
		Total Short-Term Investment (Cost $618,624)		618,624
		Total Investments (Cost $45,257,757) — 99.9%		45,603,290
		Other Assets in Excess of Liabilities — 0.1%		67,895
		Total Net Assets — 100.00%	$	45,671,185

Percentages are stated as a percent of net assets.

PLC - Public Limited Company

REIT - Real Estate Investment Trust

S.A. - Société Anonyme

(a)	Non-income producing security.
(b)	Foreign issued security
(c)	Rate shown represents the 7-day annualized yield as of November 30, 2023.

Note: For presentation purposes, the Fund has grouped some of the industry categories. For purposes of categorizing

securities for compliance with Section 8(b)(1) of the Investment Company Act of 1940, as amended, the Fund uses

more specific industry classifications.

Pzena Small Cap Value Fund

Summary of Fair Value Disclosure at November 30, 2023 (Unaudited)

The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. Accounting principles generally accepted in the United States of America ("U.S. GAAP") establish a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The following is a summary of the inputs used to value the Fund's investments as of November 30, 2023:

Pzena Small Cap Value Fund
	Level 1		Level 2		Level 3		Total
Common Stocks
Basic Materials	$	3,472,155	$	–	$	–	$	3,472,155
Consumer Discretionary		8,798,739		–		–		8,798,739
Consumer Staples		2,918,174		–		–		2,918,174
Energy		2,602,028		–		–		2,602,028
Financials		10,115,777		–		–		10,115,777
Health Care		768,190		–		–		768,190
Industrials		13,138,985		–		–		13,138,985
Real Estate		165,168		–		–		165,168
Technology		2,361,998		–		–		2,361,998
Total Common Stocks		44,341,214		–		–		44,341,214
REIT		643,452		–		–		643,452
Short-Term Investment		618,624		–		–		618,624
Total Investments	$	45,603,290	$	–	$	–	$	45,603,290
Refer to the Fund's schedule of investments for a detailed break-out of securities by industry classification.