NPORT-EX 2 pmcde-nport.htm DIVERSIFIED EQUITY FUND PART F 11.30.2023
1
PMC
Diversified
Equity
Fund
Schedule
of
Investments
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
Automobiles
&
Components
—
2.64%
Aisin
Corp.
-
ADR
13,519
$
494,998‌
Aston
Martin
Lagonda
Global
Holdings
PLC
-
ADR (a)
63,377
181,892‌
Bayerische
Motoren
Werke
AG
-
ADR (b)
93,851
3,270,707‌
BorgWarner,
Inc. (b)
53,180
1,791,634‌
Bridgestone
Corp.
-
ADR
18,241
375,400‌
BYD
Co.
Ltd.
-
ADR (b)
4,243
227,892‌
Cie
Generale
des
Etablissements
Michelin
SCA
-
ADR
15,212
254,649‌
Ford
Motor
Co.
14,524
149,016‌
Geely
Automobile
Holdings
Ltd.
-
ADR
2,379
51,648‌
General
Motors
Co. (b)
13,661
431,688‌
Honda
Motor
Co.
Ltd.
-
ADR
201,803
6,187,279‌
Isuzu
Motors
Ltd.
-
ADR (b)
24,418
321,829‌
Mazda
Motor
Corp.
-
ADR
338,997
1,806,854‌
Mercedes-Benz
Group
AG
-
ADR
161,404
2,616,359‌
Niu
Technologies
-
ADR (a)
11,077
25,920‌
Renault
SA
-
ADR
149,945
1,170,096‌
Subaru
Corp.
-
ADR
135,236
1,200,896‌
Sumitomo
Electric
Industries
Ltd.
-
ADR
25,477
314,641‌
Suzuki
Motor
Corp.
-
ADR
3,383
552,444‌
Thor
Industries,
Inc. (b)
5,792
573,813‌
Toyota
Motor
Corp.
-
ADR (b)
3,823
725,529‌
Valeo
SE
-
ADR
4,426
32,266‌
22,757,450‌
Banks
—
3.95%
Akbank
TAS
-
ADR
153,600
345,677‌
Banco
BBVA
Argentina
SA
-
ADR (b)
58,928
329,408‌
Banco
Bilbao
Vizcaya
Argentaria
SA
-
ADR
598,439
5,559,498‌
Banco
de
Chile
-
ADR
11,110
252,197‌
Banco
do
Brasil
SA
-
ADR
60,013
656,242‌
Banco
Macro
SA
-
ADR (b)
9,155
260,185‌
Banco
Santander
SA
-
ADR
728,359
2,993,555‌
Bank
Central
Asia
Tbk
PT
-
ADR
6,198
88,557‌
Bank
Hapoalim
BM
-
ADR (b)
6,906
291,779‌
Bank
Mandiri
Persero
Tbk
PT
-
ADR (b)
26,646
400,223‌
Bank
of
China
Ltd.
-
ADR
44,071
403,250‌
Bank
of
East
Asia
Ltd.
-
ADR
163,513
199,486‌
Bank
OZK
330
13,814‌
BNP
Paribas
SA
-
ADR
110,755
3,475,492‌
China
Merchants
Bank
Co.
Ltd.
-
ADR
3,103
54,085‌
Credit
Agricole
SA
-
ADR (b)
33,235
216,360‌
Erste
Group
Bank
AG
-
ADR
23,923
483,484‌
First
Citizens
BancShares,
Inc./NC
-
Class
A (b)
209
306,789‌
First
Horizon
Corp.
2,668
34,124‌
2
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Banks
—
3.95%
(Continued)
FNB
Corp./PA
5,793
$
69,458‌
Grupo
Financiero
Banorte
SAB
de
CV
-
ADR
1,349
62,499‌
Grupo
Financiero
Galicia
SA
-
ADR
15,117
259,710‌
Grupo
Supervielle
SA
-
ADR (a)(b)
17,952
61,216‌
HDFC
Bank
Ltd.
-
ADR
3,482
209,059‌
HSBC
Holdings
PLC
-
ADR (b)
118,938
4,570,787‌
ICICI
Bank
Ltd.
-
ADR
3,229
71,587‌
ING
Groep
NV
-
ADR (b)
135,962
1,914,345‌
Intesa
Sanpaolo
SpA
-
ADR (b)
28,251
489,590‌
JPMorgan
Chase
&
Co.
24,285
3,790,403‌
KB
Financial
Group,
Inc.
-
ADR (b)
1,954
78,707‌
Mediobanca
Banca
di
Credito
Finanziario
SpA
-
ADR
68,265
794,605‌
Mitsubishi
UFJ
Financial
Group,
Inc.
-
ADR
199,360
1,712,502‌
NatWest
Group
PLC
-
ADR (a)
6,604
35,331‌
New
York
Community
Bancorp,
Inc. (b)
26,137
245,949‌
OFG
Bancorp
7,117
238,847‌
Piraeus
Financial
Holdings
SA
-
ADR (a)
77,113
264,498‌
Sberbank
of
Russia
PJSC
-
ADR (a),(c)
119,989
–‌
Shinhan
Financial
Group
Co.
Ltd.
-
ADR (b)
10,524
298,882‌
Societe
Generale
SA
-
ADR (b)
23,892
120,177‌
Standard
Bank
Group
Ltd.
-
ADR
806
8,600‌
Standard
Chartered
PLC
-
ADR (b)
20,287
343,053‌
Sumitomo
Mitsui
Financial
Group,
Inc.
-
ADR (b)
12,161
120,029‌
Texas
Capital
Bancshares,
Inc. (a)
238
13,061‌
Turkiye
Garanti
Bankasi
AS
-
ADR
189,529
353,282‌
UniCredit
SpA
-
ADR
92,945
1,260,334‌
Woori
Financial
Group,
Inc.
-
ADR (b)
3,159
95,749‌
33,846,465‌
Capital
Goods
—
7.06%
ACS
Actividades
de
Construccion
y
Servicios
SA
-
ADR (a)
215,615
1,705,730‌
AGCO
Corp.
1,101
124,997‌
Air
Lease
Corp.
797
30,916‌
Allison
Transmission
Holdings,
Inc.
6,587
352,273‌
American
Woodmark
Corp. (a)
3,503
253,617‌
Apogee
Enterprises,
Inc.
5,813
262,166‌
Applied
Industrial
Technologies,
Inc.
81
12,966‌
Astra
International,
Tbk
PT
-
ADR
22,191
152,785‌
Atkore,
Inc. (a)(b)
2,685
348,782‌
BAE
Systems
PLC
-
ADR
8,218
440,238‌
Balfour
Beatty
PLC
-
ADR
56,705
472,353‌
Beacon
Roofing
Supply,
Inc. (a)
6,335
509,081‌
Bidvest
Group
Ltd.
-
ADR
173
4,351‌
Boise
Cascade
Co. (b)
2,736
299,045‌
3
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Capital
Goods
—
7.06%
(Continued)
Bouygues
SA
-
ADR
95,432
$
720,989‌
Builders
FirstSource,
Inc. (a)
8,505
1,140,606‌
Bunzl
PLC
-
ADR
853
32,295‌
Caterpillar,
Inc.
6,398
1,604,107‌
Cie
de
Saint-Gobain
SA
-
ADR
105,578
1,373,570‌
Comfort
Systems
USA,
Inc.
1,031
199,581‌
Core
&
Main,
Inc.
-
Class
A (a)
4,113
144,078‌
Crane
Co. (b)
1,368
144,570‌
Cummins,
Inc. (b)
5,457
1,223,241‌
Daimler
Truck
Holding
AG
-
ADR
4,283
69,213‌
Deere
&
Co.
105
38,263‌
EHang
Holdings
Ltd.
-
ADR (a)(b)
2,552
44,941‌
Embraer
SA
-
ADR (a)
5,193
90,826‌
EMCOR
Group,
Inc.
4,830
1,026,472‌
Emeren
Group
Ltd.
-
ADR (a)
12,296
29,756‌
Emerson
Electric
Co.
12,427
1,104,760‌
Encore
Wire
Corp. (b)
2,454
452,272‌
EnerSys
2,141
189,436‌
Esab
Corp.
1,209
93,274‌
Ferguson
PLC
8,731
1,495,970‌
General
Electric
Co.
19,304
2,351,227‌
Gibraltar
Industries,
Inc. (a)
2,040
137,068‌
GMS,
Inc. (a)
7,673
519,002‌
Greenbrier
Cos,
Inc.
284
10,710‌
Hitachi
Ltd.
-
ADR
18,655
2,588,195‌
Hubbell,
Inc.
4,212
1,263,600‌
Hyster-Yale
Materials
Handling,
Inc.
2,958
141,008‌
ITOCHU
Corp.
-
ADR
34,965
2,724,821‌
Janus
International
Group,
Inc. (a)
9,277
97,872‌
JELD-WEN
Holding,
Inc. (a)
5,288
84,502‌
JGC
Holdings
Corp.
-
ADR
3,758
84,405‌
Kawasaki
Heavy
Industries
Ltd.
-
ADR
67,474
627,508‌
Keppel
Corp.
Ltd.
-
ADR
50,166
511,693‌
Kingspan
Group
PLC
-
ADR
619
48,916‌
KOC
Holding
AS
-
ADR
8,243
202,448‌
Komatsu
Ltd.
-
ADR
46,325
1,180,824‌
Legrand
SA
-
ADR
1,920
36,960‌
Leonardo
SpA
-
ADR
94,859
726,810‌
Marubeni
Corp.
-
ADR
11,084
1,735,754‌
Masco
Corp. (b)
11,450
693,298‌
Masonite
International
Corp. (a)
1,114
98,979‌
Mitsubishi
Electric
Corp.
-
ADR
4,597
124,487‌
Mitsui
&
Co.
Ltd.
-
ADR (b)
3,405
2,485,650‌
4
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Capital
Goods
—
7.06%
(Continued)
Mueller
Industries,
Inc. (b)
16,802
$
697,787‌
Owens
Corning
6,134
831,648‌
PACCAR,
Inc.
35,590
3,267,873‌
Parker
Hannifin
Corp.
101
43,751‌
Primoris
Services
Corp.
4,821
146,366‌
Prysmian
SpA
-
ADR
99,107
1,904,837‌
Quanex
Building
Products
Corp.
9,874
304,020‌
Rexel
SA
-
ADR (b)
60,759
1,456,424‌
Rheinmetall
AG
-
ADR
9,615
577,910‌
Rolls-Royce
Holdings
PLC
-
ADR (a)
307,702
1,041,571‌
Rush
Enterprises,
Inc.
-
Class
A
16,177
641,742‌
Rush
Enterprises,
Inc.
-
Class
B
3,310
144,349‌
Schneider
Electric
SE
-
ADR
9,113
335,176‌
Siemens
AG
-
ADR
24,924
2,093,616‌
SKF
AB
-
ADR
2,506
47,013‌
Snap-on,
Inc.
13,981
3,840,440‌
Standex
International
Corp.
82
10,973‌
Sumitomo
Corp.
-
ADR (b)
89,353
1,886,242‌
Sunrun,
Inc. (a)(b)
2,432
31,373‌
Symbotic,
Inc. (a)(b)
6,105
322,832‌
Terex
Corp.
7,241
358,430‌
Textron,
Inc.
637
48,832‌
Thermon
Group
Holdings,
Inc. (a)
10,672
321,761‌
Timken
Co.
5,563
402,761‌
Trane
Technologies
PLC
248
55,902‌
Travis
Perkins
PLC
-
ADR
17,443
165,011‌
UFP
Industries,
Inc. (b)
8,145
892,936‌
United
Rentals,
Inc. (b)
4,402
2,095,440‌
Volvo
AB
-
ADR
4,214
97,343‌
Wabash
National
Corp. (b)
10,648
233,404‌
WESCO
International,
Inc.
297
46,287‌
Westinghouse
Air
Brake
Technologies
Corp.
2,962
345,251‌
WW
Grainger,
Inc. (b)
1,397
1,098,307‌
60,450,865‌
Commercial
&
Professional
Services
—
0.47%
Brady
Corp.
-
Class
A
238
13,392‌
Brambles
Ltd.
-
ADR
29,079
509,173‌
Cimpress
PLC (a)
266
18,750‌
Clean
Harbors,
Inc. (a)
87
14,064‌
Copart,
Inc. (a)
970
48,713‌
Dai
Nippon
Printing
Co.
Ltd.
-
ADR
12,176
170,708‌
Harsco
Corp. (a)
4,298
25,358‌
HeadHunter
Group
PLC
-
ADR (a),(c)
3,254
–‌
5
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Commercial
&
Professional
Services
—
0.47%
(Continued)
Mitie
Group
PLC
-
ADR
89,705
$
452,562‌
Randstad
NV
-
ADR
57,683
1,708,571‌
Science
Applications
International
Corp.
1,390
163,201‌
Steelcase,
Inc.
-
Class
A
8,804
108,377‌
TaskUS,
Inc.
-
Class
A (a)
1,553
18,667‌
Teleperformance
-
ADR
809
56,905‌
TOPPAN
INC
-
ADR (b)
67,828
788,161‌
4,096,602‌
Consumer
Discretionary
Distribution
&
Retail
—
2.59%
Abercrombie
&
Fitch
Co.
-
Class
A (a)(b)
1,687
128,026‌
Academy
Sports
&
Outdoors,
Inc. (b)
6,044
307,458‌
Alibaba
Group
Holding
Ltd.
-
ADR (a)
28,745
2,152,425‌
Amazon.com,
Inc. (a)
27,166
3,968,680‌
American
Eagle
Outfitters,
Inc. (b)
9,871
187,845‌
Arhaus,
Inc. (a)
14,148
131,859‌
Asbury
Automotive
Group,
Inc. (a)(b)
2,175
456,359‌
AutoNation,
Inc. (a)(b)
3,684
498,335‌
B&M
European
Value
Retail
SA
-
ADR
32,955
954,706‌
Baozun,
Inc.
-
ADR (a)(b)
46,449
138,418‌
Best
Buy
Co.,
Inc. (b)
7,654
542,975‌
Brilliant
Earth
Group,
Inc.
-
Class
A (a)
2,507
6,343‌
Buckle,
Inc. (b)
1,207
46,542‌
Carvana
Co. (a)(b)
3,431
107,459‌
Dillard's,
Inc.
-
Class
A (b)
367
127,382‌
D-MARKET
Elektronik
Hizmetler
ve
Ticaret
AS
-
ADR (a)
27,279
38,191‌
Dufry
AG
-
ADR (a)(b)
78,339
270,270‌
eBay,
Inc. (b)
10,225
419,327‌
Group
1
Automotive,
Inc. (b)
2,124
599,180‌
Guess?,
Inc. (b)
7,320
161,186‌
Industria
de
Diseno
Textil
SA
-
ADR (b)
94,788
1,959,268‌
JD.com,
Inc.
-
ADR
8,863
243,112‌
Kingfisher
PLC
-
ADR
85,096
475,261‌
Lithia
Motors,
Inc.
-
Class
A
853
227,742‌
Lojas
Renner
SA
-
ADR (b)
34,450
115,752‌
Lowe's
Cos.,
Inc.
1,416
281,543‌
MINISO
Group
Holding
Ltd.
-
ADR
6,024
152,588‌
NaaS
Technology,
Inc.
-
ADR (a)(b)
11,580
25,013‌
Naspers
Ltd.
-
ADR (a)
7,132
263,527‌
ODP
Corp. (a)(b)
3,491
159,015‌
PDD
Holdings,
Inc.
-
ADR (a)
7,863
1,159,321‌
Penske
Automotive
Group,
Inc. (b)
3,693
551,365‌
Prosus
NV
-
ADR (b)
77,679
510,351‌
Ross
Stores,
Inc.
3,780
492,836‌
6
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Consumer
Discretionary
Distribution
&
Retail
—
2.59%
(Continued)
Ryohin
Keikaku
Co.
Ltd.
-
ADR
8,754
$
137,788‌
Signet
Jewelers
Ltd. (b)
2,529
207,833‌
TJX
Cos.,
Inc.
20,668
1,821,058‌
Ulta
Beauty,
Inc. (a)
1,942
827,273‌
Upbound
Group,
Inc.
1,708
49,703‌
Urban
Outfitters,
Inc. (a)
6,451
230,301‌
Vibra
Energia
SA
-
ADR
14,806
138,436‌
Vipshop
Holdings
Ltd.
-
ADR (a)
27,854
446,500‌
Wayfair,
Inc.
-
Class
A (a)(b)
2,796
156,017‌
Williams-Sonoma,
Inc. (b)
1,279
239,864‌
Woolworths
Holdings
Ltd./South
Africa
-
GDR (b)
31,779
113,276‌
22,227,709‌
Consumer
Durables
&
Apparel
—
3.71%
Barratt
Developments
PLC
-
ADR
74,725
975,161‌
Burberry
Group
PLC
-
ADR
40,283
745,034‌
Cavco
Industries,
Inc. (a)(b)
126
35,630‌
Cie
Financiere
Richemont
SA
-
ADR (b)
81,011
1,011,017‌
Crocs,
Inc. (a)
1,223
129,161‌
Deckers
Outdoor
Corp. (a)
38
25,231‌
DR
Horton,
Inc.
31,186
3,981,517‌
Dream
Finders
Homes,
Inc.
-
Class
A (a)(b)
8,760
213,218‌
Garmin
Ltd.
5,770
705,325‌
Haier
Smart
Home
Co.
Ltd.
-
ADR
8,255
95,098‌
Hermes
International
SCA
-
ADR (b)
7,359
1,527,949‌
KB
Home
9,055
471,766‌
La-Z-Boy,
Inc. (b)
10,221
359,677‌
Lennar
Corp.
-
Class
B (b)
25,834
2,964,193‌
Lennar
Corp.
-
Class
A
28,147
3,600,564‌
MDC
Holdings,
Inc. (b)
7,845
347,220‌
Meritage
Homes
Corp.
4,173
589,645‌
NVR,
Inc. (a)
655
4,031,781‌
Oxford
Industries,
Inc. (b)
1,077
97,393‌
Panasonic
Holdings
Corp.
-
ADR
72,899
749,402‌
Pandora
AS
-
ADR
11,326
382,196‌
PRADA
SpA
-
ADR (b)
23,969
262,940‌
PulteGroup,
Inc.
48,934
4,326,745‌
PVH
Corp.
3,755
367,164‌
Ralph
Lauren
Corp.
2,180
282,048‌
Sega
Sammy
Holdings,
Inc.
-
ADR
84,731
310,115‌
Sekisui
House
Ltd.
-
ADR
29,278
599,906‌
Skechers
U.S.A.,
Inc.
-
Class
A (a)
7,329
431,751‌
Tapestry,
Inc.
1,240
39,271‌
7
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Consumer
Durables
&
Apparel
—
3.71%
(Continued)
Taylor
Morrison
Home
Corp. (a)
13,043
$
588,239‌
Toll
Brothers,
Inc.
9,651
828,924‌
TopBuild
Corp. (a)
1,054
311,752‌
Tri
Pointe
Homes,
Inc. (a)
12,256
357,630‌
Yue
Yuen
Industrial
Holdings
Ltd.
-
ADR
24,530
139,821‌
31,884,484‌
Consumer
Services
—
1.23%
Accor
SA
-
ADR
13,468
93,064‌
Bloomin'
Brands,
Inc. (b)
2,197
51,278‌
Booking
Holdings,
Inc. (a)
501
1,565,976‌
Caesars
Entertainment,
Inc. (a)
47,401
2,119,772‌
Carnival
Corp. (a)
91,498
1,377,960‌
Carnival
PLC
-
ADR (a)
91,520
1,233,690‌
DoorDash,
Inc.
-
Class
A (a)(b)
6,448
605,983‌
DraftKings,
Inc.
-
Class
A (a)
3,215
122,942‌
Expedia
Group,
Inc. (a)
391
53,246‌
frontdoor,
Inc. (a)
339
11,638‌
Gaotu
Techedu,
Inc.
-
ADR (a)
64,094
166,003‌
Genting
Bhd
-
ADR
11,225
53,543‌
InterContinental
Hotels
Group
PLC
-
ADR (b)
6,235
489,759‌
Luckin
Coffee,
Inc.
-
ADR (a)
5,585
186,595‌
Meituan
-
ADR (a)(b)
2,189
50,697‌
Melco
Resorts
&
Entertainment
Ltd.
-
ADR (a)
3,435
23,976‌
New
Oriental
Education
&
Technology
Group,
Inc.
-
ADR (a)
3,452
280,924‌
OPAP
SA
-
ADR
16,069
126,945‌
Royal
Caribbean
Cruises
Ltd. (a)(b)
12,937
1,390,210‌
Stride,
Inc. (a)(b)
233
14,115‌
TAL
Education
Group
-
ADR (a)
17,011
213,148‌
Trip.com
Group
Ltd.
-
ADR (a)
8,182
287,843‌
Tuniu
Corp.
-
ADR (a)
28,731
25,858‌
10,545,165‌
Consumer
Staples
Distribution
&
Retail
—
1.83%
111,
Inc.
-
ADR (a)
4,361
8,678‌
Almacenes
Exito
SA
-
ADR (a)
7,358
51,506‌
Andersons,
Inc.
3,980
198,443‌
Casey's
General
Stores,
Inc.
1,556
428,522‌
Costco
Wholesale
Corp.
1,574
932,973‌
J
Sainsbury
PLC
-
ADR
52,625
757,800‌
Jeronimo
Martins
SGPS
SA
-
ADR (b)
16,012
795,156‌
Koninklijke
Ahold
Delhaize
NV
-
ADR
80,527
2,332,062‌
Kroger
Co. (b)
27,053
1,197,636‌
Marks
&
Spencer
Group
PLC
-
ADR (b)
472,445
2,983,490‌
Performance
Food
Group
Co. (a)(b)
6,341
412,482‌
8
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Consumer
Staples
Distribution
&
Retail
—
1.83%
(Continued)
PriceSmart,
Inc. (b)
1,797
$
121,100‌
Seven
&
i
Holdings
Co.
Ltd.
-
ADR (b)
30,683
602,921‌
Sprouts
Farmers
Market,
Inc. (a)(b)
6,813
293,504‌
Tesco
PLC
-
ADR
60,995
658,136‌
US
Foods
Holding
Corp. (a)(b)
5,833
255,660‌
Walmart,
Inc.
23,776
3,701,686‌
15,731,755‌
Energy
—
2.57%
BP
PLC
-
ADR
90,256
3,275,389‌
California
Resources
Corp. (b)
3,329
170,478‌
Chesapeake
Energy
Corp. (b)
3,726
299,235‌
Chevron
Corp.
275
39,490‌
Chord
Energy
Corp.
2,127
344,872‌
Civitas
Resources,
Inc. (b)
4,012
275,584‌
CNX
Resources
Corp. (a)(b)
21,820
455,165‌
Diamondback
Energy,
Inc.
248
38,294‌
Eni
SpA
-
ADR (b)
75,523
2,502,832‌
Equinor
ASA
-
ADR (b)
2,673
85,189‌
Exxon
Mobil
Corp.
52,308
5,374,123‌
Galp
Energia
SGPS
SA
-
ADR
7,902
58,475‌
Gazprom
Neft
PJSC
-
ADR (a),(c)
6,793
–‌
Gazprom
PJSC
-
ADR (a),(c)
186,205
–‌
HF
Sinclair
Corp.
7,366
386,568‌
Inpex
Corp.
-
ADR (b)
73,662
1,010,643‌
International
Seaways,
Inc.
6,478
295,656‌
Liberty
Energy,
Inc. (b)
10,596
210,331‌
LUKOIL
PJSC
-
ADR (a),(c)
10,626
–‌
Marathon
Petroleum
Corp.
12,381
1,847,120‌
Northern
Oil
and
Gas,
Inc.
3,002
112,335‌
PBF
Energy,
Inc.
-
Class
A
6,954
308,758‌
Peabody
Energy
Corp. (b)
6,886
164,162‌
Petroleo
Brasileiro
SA
-
ADR
20,649
315,310‌
Phillips
66
4,429
570,854‌
Range
Resources
Corp. (b)
2,031
66,008‌
Repsol
SA
-
ADR
8,863
135,604‌
Shell
PLC
-
ADR
4,506
296,495‌
Southwestern
Energy
Co. (a)
19,693
129,777‌
Surgutneftegas
PJSC
-
ADR (a),(c)
15,549
–‌
Tenaris
SA
-
ADR
2,600
90,142‌
TotalEnergies
SE
-
ADR
29,177
1,985,495‌
Valero
Energy
Corp.
6,521
817,473‌
Vista
Energy
SAB
de
CV
-
ADR (a)
5,782
178,259‌
Weatherford
International
PLC (a)
178
16,143‌
9
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Energy
—
2.57%
(Continued)
YPF
SA
-
ADR (a)
15,852
$
263,302‌
22,119,561‌
Equity
Real
Estate
Investment
Trusts
(REITs)
—
0.00%
NET
Lease
Office
Properties (a)
879
14,372‌
Financial
Services
—
4.99%
3i
Group
PLC
-
ADR
187,263
2,679,733‌
Affiliated
Managers
Group,
Inc.
5,207
705,809‌
Affirm
Holdings,
Inc. (a)(b)
834
28,698‌
Alliance
Data
Systems
Corp. (b)
8,385
235,619‌
Ally
Financial,
Inc. (b)
6,989
204,219‌
Ameriprise
Financial,
Inc.
3,116
1,101,537‌
AMTD
IDEA
Group
-
ADR (a)(b)
13,600
24,480‌
Berkshire
Hathaway,
Inc.
-
Class
A (a)
7
3,821,299‌
Berkshire
Hathaway,
Inc.
-
Class
B (a)
10,542
3,795,119‌
Capital
One
Financial
Corp. (b)
5,733
640,147‌
Coinbase
Global,
Inc.
-
Class
A (a)(b)
538
67,099‌
Deutsche
Bank
AG (b)
167,994
2,091,524‌
Discover
Financial
Services
5,955
553,815‌
Enact
Holdings,
Inc.
13,646
378,131‌
Essent
Group
Ltd.
14,343
693,341‌
Euronet
Worldwide,
Inc. (a)
891
77,713‌
Evercore,
Inc.
-
Class
A
1,887
278,427‌
Federated
Hermes,
Inc.
-
Class
B
322
10,246‌
FinVolution
Group
-
ADR
85,951
380,763‌
FirstCash
Holdings,
Inc.
3,860
432,320‌
Fiserv,
Inc. (a)(b)
21,942
2,865,845‌
FleetCor
Technologies,
Inc. (a)
2,082
500,721‌
Franklin
Resources,
Inc. (b)
54,748
1,357,750‌
Futu
Holdings
Ltd.
-
ADR (a)
17,187
926,723‌
Interactive
Brokers
Group,
Inc.
-
Class
A
524
40,788‌
Invesco
Ltd.
46,321
661,001‌
Jackson
Financial,
Inc.
-
Class
A (b)
5,708
272,443‌
Janus
Henderson
Group
PLC
15,600
408,564‌
Jefferies
Financial
Group,
Inc.
25,609
907,583‌
Jiayin
Group,
Inc.
-
ADR
39,890
205,035‌
Julius
Baer
Group
Ltd.
-
ADR
12,535
125,977‌
LexinFintech
Holdings
Ltd.
-
ADR
111,920
199,218‌
loanDepot,
Inc.
-
Class
A (a)
12,356
22,735‌
MasterCard,
Inc.
-
Class
A
5,252
2,173,435‌
MGIC
Investment
Corp.
48,927
860,626‌
Mr
Cooper
Group,
Inc. (a)
6,224
376,676‌
Navient
Corp. (b)
9,106
155,986‌
10
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Financial
Services
—
4.99%
(Continued)
Nelnet,
Inc.
-
Class
A (b)
2,034
$
170,653‌
Noah
Holdings
Ltd.
-
ADR
5,216
66,869‌
OneMain
Holdings,
Inc.
8,540
361,242‌
ORIX
Corp.
-
ADR
3,863
353,233‌
PennyMac
Financial
Services,
Inc.
2,405
187,085‌
PROG
Holdings,
Inc. (a)(b)
16,394
446,900‌
Qifu
Technology,
Inc.
-
ADR
23,036
357,519‌
QIWI
PLC
-
ADR (a),(c)
29,317
–‌
Qudian,
Inc.
-
ADR (a)
71,790
113,428‌
Radian
Group,
Inc.
22,857
587,653‌
Rocket
Cos.,
Inc.
-
Class
A (a)(b)
66,968
625,481‌
Shift4
Payments,
Inc.
-
Class
A (a)(b)
4,835
318,240‌
SOFI
Technologies,
Inc. (a)(b)
2,214
16,140‌
State
Street
Corp.
10,841
789,442‌
Synchrony
Financial
28,163
911,355‌
Tradeweb
Markets,
Inc.
-
Class
A (b)
414
40,117‌
UBS
Group
AG (b)
133,763
3,778,804‌
Up
Fintech
Holding
Ltd.
-
ADR (a)
24,470
108,647‌
Victory
Capital
Holdings,
Inc.
-
Class
A (b)
2,437
78,350‌
Virtus
Investment
Partners,
Inc.
1,343
262,718‌
Visa,
Inc.
-
Class
A (b)
8,628
2,214,635‌
World
Acceptance
Corp. (a)
1,301
144,996‌
Worldline
SA/France
-
ADR (a)(b)
57,860
446,101‌
Yiren
Digital
Ltd.
-
ADR (a)
40,912
115,781‌
42,756,534‌
Food,
Beverage
&
Tobacco
—
2.08%
Ajinomoto
Co.,
Inc.
-
ADR
13,731
511,617‌
Altria
Group,
Inc.
58,829
2,473,170‌
Archer-Daniels-Midland
Co.
23,431
1,727,568‌
Associated
British
Foods
PLC
-
ADR
3,606
108,584‌
British
American
Tobacco
PLC
-
ADR
55,032
1,754,970‌
Cal-Maine
Foods,
Inc.
3,059
146,587‌
Campbell
Soup
Co. (b)
13,981
561,757‌
Coca-Cola
Bottlers
Japan
Holdings,
Inc.
-
ADR
44,914
311,029‌
Coca-Cola
Consolidated,
Inc.
107
78,594‌
Coca-Cola
Femsa
SAB
de
CV
-
ADR
5,656
478,780‌
Coca-Cola
HBC
AG
-
ADR
1,777
49,454‌
Embotelladora
Andina
SA
-
ADR
8,592
123,983‌
First
Pacific
Co.
Ltd.
-
ADR
268,129
521,511‌
Fomento
Economico
Mexicano
SAB
de
CV
-
ADR
600
76,134‌
Ingredion,
Inc.
4,440
455,056‌
J
M
Smucker
Co.
4,543
498,503‌
Japan
Tobacco,
Inc.
-
ADR
361,695
4,651,398‌
11
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Food,
Beverage
&
Tobacco
—
2.08%
(Continued)
Kraft
Heinz
Co. (b)
10,976
$
385,367‌
Lamb
Weston
Holdings,
Inc.
485
48,515‌
Molson
Coors
Brewing
Co.
-
Class
B (b)
3,192
196,436‌
Mondelez
International,
Inc.
-
Class
A
15,810
1,123,459‌
SLC
Agricola
SA
-
ADR
3,418
24,746‌
Tiger
Brands
Ltd.
-
ADR
4,063
39,939‌
Universal
Corp./VA
1,132
63,686‌
WH
Group
Ltd.
-
ADR
394
5,079‌
Wilmar
International
Ltd.
-
ADR (b)
55,544
1,494,134‌
17,910,056‌
Health
Care
Equipment
&
Services
—
3.27%
Accolade,
Inc. (a)
7,694
67,169‌
Ansell
Ltd.
-
ADR
5,351
331,093‌
Avanos
Medical,
Inc. (a)
6,483
139,709‌
Cardinal
Health,
Inc.
11,771
1,260,439‌
Cencora,
Inc. (b)
232
47,182‌
Certara,
Inc. (a)
5,807
83,679‌
Chemed
Corp.
672
381,024‌
Cigna
Corp.
6,612
1,738,162‌
Cochlear
Ltd.
-
ADR
379
34,074‌
CONMED
Corp. (b)
2,802
300,571‌
DaVita,
Inc. (a)(b)
1,780
180,599‌
DENTSPLY
SIRONA,
Inc. (b)
6,088
193,294‌
Elekta
AB
-
ADR (b)
42,904
330,790‌
Elevance
Health,
Inc.
2,694
1,291,746‌
Encompass
Health
Corp.
7,810
508,978‌
Ensign
Group,
Inc.
4,034
431,920‌
EssilorLuxottica
SA
-
ADR (b)
27,413
2,616,606‌
Fresenius
Medical
Care
AG
&
Co.
KGaA
-
ADR
49,830
1,022,013‌
GoodRx
Holdings,
Inc.
-
Class
A (a)
14,713
88,131‌
Haemonetics
Corp. (a)
4,608
372,649‌
HCA
Healthcare,
Inc.
9,800
2,454,703‌
Henry
Schein,
Inc. (a)
14,396
960,645‌
Hims
&
Hers
Health,
Inc. (a)
33,533
298,108‌
Humana,
Inc. (b)
2,588
1,254,818‌
IDEXX
Laboratories,
Inc. (a)
1,469
684,290‌
Inspire
Medical
Systems,
Inc. (a)
641
93,144‌
Integer
Holdings
Corp. (a)
2,206
192,407‌
Intuitive
Surgical,
Inc. (a)
409
127,134‌
Koninklijke
Philips
NV (a)(b)
25,306
516,749‌
Laboratory
Corp.
of
America
Holdings (b)
5,570
1,208,189‌
LifeStance
Health
Group,
Inc. (a)
1,947
13,376‌
McKesson
Corp.
2,907
1,367,917‌
12
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Health
Care
Equipment
&
Services
—
3.27%
(Continued)
Merit
Medical
Systems,
Inc. (a)
4,697
$
336,117‌
Neogen
Corp. (a)
723
12,269‌
NeoGenomics,
Inc. (a)
8,955
162,712‌
Option
Care
Health,
Inc. (a)
2,196
65,331‌
Owens
&
Minor,
Inc. (a)
684
13,598‌
Patterson
Cos.,
Inc.
5,737
145,777‌
Penumbra,
Inc. (a)
865
192,108‌
QuidelOrtho
Corp. (a)(b)
1,211
83,232‌
Schrodinger,
Inc./United
States (a)(b)
3,488
108,442‌
Select
Medical
Holdings
Corp.
9,450
213,570‌
Sinopharm
Group
Co.
Ltd.
-
ADR (b)
19,546
240,611‌
Smith
&
Nephew
PLC
-
ADR (b)
11,550
299,723‌
Straumann
Holding
AG
-
ADR
6,889
94,517‌
Stryker
Corp.
2,157
639,184‌
Surgery
Partners,
Inc. (a)(b)
5,523
180,878‌
Teladoc
Health,
Inc. (a)(b)
1,670
30,294‌
Tenet
Healthcare
Corp. (a)
5,382
371,412‌
UnitedHealth
Group,
Inc.
4,610
2,549,191‌
Universal
Health
Services,
Inc.
-
Class
B (b)
2,683
368,859‌
Veradigm,
Inc. (a)
2,112
24,246‌
Zimmer
Biomet
Holdings,
Inc.
11,677
1,358,152‌
28,081,531‌
Household
&
Personal
Products
—
0.66%
Beiersdorf
AG
-
ADR
14,586
407,970‌
Haleon
PLC
-
ADR (b)
106,130
908,473‌
L'Oreal
SA
-
ADR
14,671
1,380,248‌
Natura
&
Co.
Holding
SA
-
ADR (a)
3,923
26,127‌
Procter
&
Gamble
Co.
8,442
1,296,016‌
Spectrum
Brands
Holdings,
Inc. (b)
2,726
188,994‌
Unilever
PLC
-
ADR
31,574
1,506,080‌
5,713,908‌
Insurance
—
2.49%
Aflac,
Inc.
59,961
4,959,374‌
Allianz
SE
-
ADR
20,305
508,437‌
Ambac
Financial
Group,
Inc. (a)
18,597
274,306‌
American
International
Group,
Inc.
40,910
2,692,287‌
Arch
Capital
Group
Ltd. (a)
2,341
195,918‌
Assicurazioni
Generali
SpA
-
ADR (b)
102,181
1,055,530‌
Assurant,
Inc.
1,048
176,085‌
AXA
SA
-
ADR
10,066
314,522‌
BB
Seguridade
Participacoes
SA
-
ADR
39,739
250,356‌
Chubb
Ltd.
224
51,392‌
Cincinnati
Financial
Corp.
1,881
193,348‌
13
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Insurance
—
2.49%
(Continued)
Everest
Group
Ltd.
4,342
$
1,782,609‌
Fanhua,
Inc.
-
ADR (a)
3,731
24,326‌
First
American
Financial
Corp.
2,142
127,663‌
Genworth
Financial,
Inc.
-
Class
A (a)
57,405
338,115‌
Hannover
Rueck
SE
-
ADR
1,254
149,326‌
Hartford
Financial
Services
Group,
Inc.
23,193
1,812,765‌
Loews
Corp.
20,312
1,427,730‌
Markel
Group,
Inc. (a)(b)
855
1,230,422‌
MS&AD
Insurance
Group
Holdings,
Inc.
-
ADR
17,270
325,021‌
Muenchener
Rueckversicherungs-Gesellschaft
AG
-
ADR
17,262
735,361‌
Old
Republic
International
Corp.
23,260
681,751‌
Oscar
Health,
Inc.
-
Class
A (a)
10,657
90,585‌
Ping
An
Insurance
Group
Co.
of
China
Ltd.
-
ADR
11,714
106,949‌
Sanlam
Ltd.
-
ADR
639
4,626‌
SCOR
SE
-
ADR
144,295
467,516‌
SiriusPoint
Ltd. (a)
6,251
66,761‌
Suncorp
Group
Ltd.
-
ADR (b)
26,822
238,716‌
T&D
Holdings,
Inc.
-
ADR
9,387
68,337‌
Tokio
Marine
Holdings,
Inc.
-
ADR (b)
13,470
332,574‌
Unum
Group
11,681
502,283‌
White
Mountains
Insurance
Group
Ltd.
129
197,618‌
21,382,609‌
Materials
—
2.73%
Air
Liquide
SA
-
ADR (b)
11,878
447,801‌
Albemarle
Corp. (b)
1,695
205,553‌
Alpha
Metallurgical
Resources,
Inc. (b)
1,125
315,630‌
APERAM
SA (b)
17,020
566,936‌
ArcelorMittal
SA
97,463
2,455,092‌
Arch
Resources,
Inc.
1,039
172,432‌
Arkema
SA
-
ADR
4,629
471,348‌
Berry
Global
Group,
Inc.
1,942
128,405‌
BHP
Group
Ltd.
-
ADR (b)
23,027
1,403,725‌
Cemex
SAB
de
CV
-
ADR (a)
27,158
187,662‌
CF
Industries
Holdings,
Inc.
1,682
126,402‌
Cleveland-Cliffs,
Inc. (a)
8,951
153,599‌
Commercial
Metals
Co. (b)
12,839
581,992‌
Dow,
Inc.
797
41,245‌
DuPont
de
Nemours,
Inc.
7,755
554,793‌
Fortescue
Metals
Group
Ltd.
-
ADR (b)
21,353
702,727‌
Glencore
PLC
-
ADR
80,481
898,168‌
Greif,
Inc.
-
Class
B
2,047
142,574‌
Greif,
Inc.
-
Class
A
4,885
341,462‌
Harmony
Gold
Mining
Co.
Ltd.
-
ADR
23,507
146,684‌
14
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Materials
—
2.73%
(Continued)
Heidelberg
Materials
AG
-
ADR
12,685
$
206,131‌
HOLCIM
Ltd.
NEW
SPONSORED
ADS (a)(b)
67,238
983,860‌
Impala
Platinum
Holdings
Ltd.
-
ADR (b)
4,030
16,579‌
Incitec
Pivot
Ltd.
-
ADR
98,911
177,051‌
International
Paper
Co.
1,343
49,610‌
James
Hardie
Industries
PLC
-
ADR (a)(b)
1,740
55,941‌
Johnson
Matthey
PLC
-
ADR (b)
4,377
175,789‌
K+S
AG
-
ADR
29,718
219,765‌
Koppers
Holdings,
Inc.
346
15,629‌
Kuraray
Co.
Ltd.
-
ADR (b)
22,014
666,826‌
LyondellBasell
Industries
NV
-
Class
A
6,061
576,401‌
Mechel
PJSC
-
ADR (a),(c)
59,509
–‌
Mosaic
Co.
6,446
231,347‌
Nippon
Steel
Corp.
-
ADR (b)
176,433
1,384,999‌
Nitto
Denko
Corp.
-
ADR
1,305
46,328‌
Norsk
Hydro
ASA
-
ADR
137,467
795,934‌
Nucor
Corp.
9,460
1,607,915‌
Packaging
Corp.
of
America
314
52,755‌
POSCO
Holdings,
Inc.
-
ADR (b)
1,888
175,962‌
Reliance
Steel
&
Aluminum
Co.
3,782
1,041,033‌
Rio
Tinto
PLC
-
ADR
2,981
205,957‌
Sappi
Ltd.
-
ADR
27,439
57,828‌
Shin-Etsu
Chemical
Co.
Ltd.
-
ADR (b)
20,769
365,534‌
Steel
Dynamics,
Inc.
9,181
1,093,733‌
Suzano
SA
-
ADR (b)
608
6,603‌
Ternium
SA
-
ADR
7,320
289,360‌
thyssenkrupp
AG
-
ADR
29,523
220,596‌
United
States
Steel
Corp. (b)
6,997
251,192‌
Vale
SA
-
ADR
26,884
403,260‌
Warrior
Met
Coal,
Inc.
4,549
254,608‌
Westlake
Corp. (b)
4,416
566,970‌
Wienerberger
AG
-
ADR
179,481
1,058,938‌
Yara
International
ASA
-
ADR
10,221
172,837‌
23,471,501‌
Media
&
Entertainment
—
4.46%
Alphabet,
Inc.
-
Class
C (a)
24,554
3,288,272‌
Alphabet,
Inc.
-
Class
A (a)
27,688
3,669,490‌
Altice
USA,
Inc.
-
Class
A (a)
15,785
36,306‌
AMC
Networks,
Inc.
-
Class
A (a)
5,700
86,868‌
Autohome,
Inc.
-
ADR
3,220
87,938‌
Baidu,
Inc.
-
ADR (a)
1,473
174,786‌
Bilibili,
Inc.
-
ADR (a)(b)
2,518
28,529‌
Cargurus,
Inc. (a)
13,198
285,341‌
15
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Media
&
Entertainment
—
4.46%
(Continued)
Cars.com,
Inc. (a)
11,054
$
205,825‌
Charter
Communications,
Inc.
-
Class
A (a)(b)
2,624
1,049,941‌
Cinemark
Holdings,
Inc. (a)(b)
5,899
84,061‌
Comcast
Corp.
-
Class
A
70,537
2,954,795‌
DouYu
International
Holdings
Ltd.
-
ADR (a)
33,691
23,661‌
Eutelsat
Communications
SA
-
ADR
83,104
87,425‌
Fox
Corp.
-
Class
A
78,136
2,308,137‌
Fox
Corp.
-
Class
B (b)
82,455
2,280,705‌
Gravity
Co.
Ltd.
-
ADR (a)
3,713
271,123‌
Hello
Group,
Inc.
-
ADR
50,977
329,311‌
HUYA,
Inc.
-
ADR (a)
45,336
153,689‌
IAC/InterActiveCorp (a)(b)
10,766
514,938‌
Informa
PLC
-
ADR
7,278
139,883‌
Integral
Ad
Science
Holding
Corp. (a)
6,438
93,930‌
Interpublic
Group
of
Cos.,
Inc. (b)
36,857
1,132,984‌
iQIYI,
Inc.
-
ADR (a)
19,557
87,811‌
ITV
PLC
-
ADR (b)
29,274
223,361‌
JOYY,
Inc.
-
ADR
9,889
379,836‌
Meta
Platforms,
Inc.
-
Class
A (a)(b)
17,219
5,633,195‌
NetEase,
Inc.
-
ADR
1,115
126,530‌
Netflix,
Inc. (a)
1,915
907,653‌
New
York
Times
Co.
-
Class
A
3,118
146,515‌
News
Corp.
-
Class
B (b)
70,589
1,626,371‌
News
Corp.
-
Class
A
60,628
1,336,241‌
Nexstar
Media
Group,
Inc.
-
Class
A
3,292
467,234‌
Omnicom
Group,
Inc.
24,178
1,949,472‌
Paramount
Global
-
Class
A (b)
4,550
80,581‌
Paramount
Global
-
Class
B (b)
36,408
523,183‌
Pinterest,
Inc.
-
Class
A (a)
2,255
76,828‌
Publicis
Groupe
SA
-
ADR
86,343
1,828,703‌
Scholastic
Corp.
6,720
255,293‌
Sea
Ltd.
-
ADR (a)
2,255
81,676‌
Sinclair,
Inc.
4,700
59,267‌
Sirius
XM
Holdings,
Inc. (b)
42,443
198,633‌
Sphere
Entertainment
Co. (a)
2,179
74,565‌
Tencent
Holdings
Ltd.
-
ADR (b)
48,685
2,026,271‌
Tencent
Music
Entertainment
Group
-
ADR (a)
15,026
127,871‌
Trade
Desk,
Inc.
-
Class
A (a)(b)
3,368
237,309‌
Trivago
NV
-
ADR
25,149
59,100‌
Universal
Music
Group
NV
-
ADR
2,583
33,992‌
Weibo
Corp.
-
ADR
2,411
24,375‌
Yalla
Group
Ltd.
-
ADR (a)
34,869
209,563‌
Yelp,
Inc. (a)
560
24,478‌
16
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Media
&
Entertainment
—
4.46%
(Continued)
ZipRecruiter,
Inc.
-
Class
A (a)
7,668
$
102,828‌
38,196,673‌
Pharmaceuticals,
Biotechnology
&
Life
Sciences
—
5.96%
10X
Genomics,
Inc.
-
Class
A (a)
3,666
159,544‌
Alkermes
PLC (a)
8,584
207,218‌
Amneal
Pharmaceuticals,
Inc. (a)
34,854
150,221‌
Astellas
Pharma,
Inc.
-
ADR
7,109
86,445‌
AstraZeneca
PLC
-
ADR
59,686
3,855,119‌
Avadel
Pharmaceuticals
PLC
-
ADR (a)
7,028
81,103‌
Azenta,
Inc. (a)(b)
2,792
157,385‌
Bavarian
Nordic
AS
-
ADR (a)
27,895
226,262‌
Bayer
AG
-
ADR
15,409
131,285‌
BioNTech
SE
-
ADR (a)
4,345
436,281‌
Bristol-Myers
Squibb
Co.
37,735
1,863,354‌
Bruker
Corp. (b)
2,943
191,560‌
Charles
River
Labratories
International,
Inc. (a)
421
82,971‌
Chugai
Pharmaceutical
Co.
Ltd.
-
ADR (b)
9,932
174,307‌
CryoPort,
Inc. (a)
4,952
69,427‌
CSPC
Pharmaceutical
Group
Ltd.
-
ADR
21,398
75,535‌
Eli
Lilly
&
Co.
4,074
2,407,897‌
Exact
Sciences
Corp. (a)
3,633
232,512‌
Exelixis,
Inc. (a)
14,198
309,658‌
Genfit
SA
-
ADR (a)
36,338
118,099‌
Gilead
Sciences,
Inc.
44,855
3,435,892‌
Gracell
Biotechnologies,
Inc.
-
ADR (a)
4,746
23,113‌
Grifols
SA
-
ADR (a)
77,068
746,789‌
GSK
PLC
-
ADR
49,268
1,773,155‌
HUTCHMED
China
Ltd.
-
ADR (a)
14,974
288,699‌
Hypera
SA
-
ADR (b)
8,624
59,851‌
Ipsen
SA
-
ADR
30,680
859,654‌
Jazz
Pharmaceuticals
PLC (a)
325
38,425‌
Johnson
&
Johnson
7,115
1,100,406‌
Kiniksa
Pharmaceuticals
Ltd.
-
Class
A (a)
14,496
234,400‌
Ligand
Pharmaceuticals,
Inc. (a)
2,387
139,186‌
Maravai
LifeSciences
Holdings,
Inc.
-
Class
A (a)
7,006
35,731‌
Medpace
Holdings,
Inc. (a)
1,696
459,141‌
Merck
&
Co.,
Inc.
5,621
576,040‌
Mereo
Biopharma
Group
PLC
-
ADR (a)
47,169
98,583‌
Moderna,
Inc. (a)(b)
3,175
246,698‌
MorphoSys
AG
-
ADR (a)(b)
17,128
117,156‌
Mural
Oncology
PLC (a)
858
3,097‌
Novartis
AG
-
ADR
77,054
7,543,586‌
Novo
Nordisk
AS
-
ADR (b)
45,318
4,615,184‌
17
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Pharmaceuticals,
Biotechnology
&
Life
Sciences
—
5.96%
(Continued)
Nuvalent,
Inc.
-
Class
A (a)
188
$
12,290‌
Otsuka
Holdings
Co.
Ltd.
-
ADR (b)
50,537
970,310‌
Pfizer,
Inc.
41,585
1,267,095‌
ProKidney
Corp. (a)(b)
24,345
40,900‌
Regeneron
Pharmaceuticals,
Inc. (a)
2,183
1,798,377‌
Sanofi
-
ADR
95,441
4,461,867‌
Santen
Pharmaceutical
Co.
Ltd.
-
ADR
3,338
31,880‌
Shionogi
&
Co.
Ltd.
-
ADR
11,328
132,877‌
Taisho
Pharmaceutical
Holdings
Co.
Ltd.
-
ADR
45,652
668,802‌
Takeda
Pharmaceutical
Co.
Ltd.
-
ADR (b)
253,364
3,585,101‌
Teva
Pharmaceutical
Industries
Ltd.
-
ADR (a)
23,640
232,145‌
Twist
Bioscience
Corp. (a)
5,742
138,095‌
United
Therapeutics
Corp. (a)
1,798
431,520‌
Veracyte,
Inc. (a)(b)
26,191
670,490‌
Verona
Pharma
PLC
-
ADR (a)
2,182
29,501‌
Vertex
Pharmaceuticals,
Inc. (a)
3,674
1,303,572‌
Viatris,
Inc.
148,265
1,361,073‌
West
Pharmaceutical
Services,
Inc.
1,179
413,546‌
Wuxi
Biologics
Cayman,
Inc.
-
ADR (a)
8,001
88,651‌
51,049,061‌
Real
Estate
Management
&
Development
—
0.48%
CBRE
Group,
Inc.
-
Class
A (a)
2,650
209,244‌
Daiwa
House
Industry
Co.
Ltd.
-
ADR
18,897
537,242‌
Forestar
Group,
Inc. (a)
15,426
470,955‌
Howard
Hughes
Holdings,
Inc. (a)
917
67,409‌
IRSA
Inversiones
y
Representaciones
SA
-
ADR
3,752
33,318‌
Jones
Lang
LaSalle,
Inc. (a)(b)
1,042
162,052‌
KE
Holdings,
Inc.
-
ADR
11,054
176,090‌
RMR
Group,
Inc.
-
Class
A
11,065
263,679‌
Sun
Hung
Kai
Properties
Ltd.
-
ADR
83,534
813,621‌
Swire
Pacific
Ltd.
-
ADR
152,013
973,263‌
Zillow
Group,
Inc.
-
Class
C (a)(b)
5,845
239,294‌
Zillow
Group,
Inc.
-
Class
A (a)
2,607
102,690‌
4,048,857‌
Semiconductors
&
Semiconductor
Equipment
—
7.19%
Advanced
Micro
Devices,
Inc. (a)
4,853
587,989‌
Advantest
Corp.
-
ADR
1,222
38,065‌
Allegro
MicroSystems,
Inc. (a)
731
19,898‌
Amkor
Technology,
Inc.
10,224
288,010‌
Analog
Devices,
Inc. (b)
23,095
4,235,161‌
Applied
Materials,
Inc.
26,918
4,031,778‌
ASE
Technology
Holding
Co.
Ltd.
-
ADR
63,603
546,986‌
18
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Semiconductors
&
Semiconductor
Equipment
—
7.19%
(Continued)
ASML
Holding
NV
2,307
$
1,577,434‌
ASMPT
Ltd.
-
ADR (b)
24,564
751,486‌
Axcelis
Technologies,
Inc. (a)(b)
1,250
155,350‌
Broadcom,
Inc.
7,134
6,604,158‌
Cirrus
Logic,
Inc. (a)
3,127
237,371‌
Daqo
New
Energy
Corp.
-
ADR (a)
15,382
363,938‌
Diodes,
Inc. (a)
5,158
342,594‌
Disco
Corp.
-
ADR
73,861
1,565,853‌
Enphase
Energy,
Inc. (a)(b)
4,864
491,361‌
First
Solar,
Inc. (a)
5,401
852,170‌
Himax
Technologies,
Inc.
-
ADR
9,044
51,641‌
Infineon
Technologies
AG
-
ADR (b)
54,770
2,119,599‌
Intel
Corp.
3,318
148,315‌
JinkoSolar
Holding
Co.
Ltd.
-
ADR
10,489
329,355‌
KLA
Corp.
4,534
2,469,307‌
Lam
Research
Corp.
4,638
3,320,437‌
Lattice
Semiconductor
Corp. (a)
2,203
128,986‌
MACOM
Technology
Solutions
Holdings,
Inc. (a)(b)
149
12,513‌
Microchip
Technology,
Inc.
33,481
2,793,655‌
Monolithic
Power
Systems,
Inc. (b)
299
164,067‌
NVIDIA
Corp.
15,692
7,339,149‌
ON
Semiconductor
Corp. (a)(b)
32,503
2,318,439‌
Onto
Innovation,
Inc. (a)
4,242
598,164‌
QUALCOMM,
Inc.
17,222
2,222,499‌
Rambus,
Inc. (a)
2,374
160,649‌
Renesas
Electronics
Corp.
-
ADR (a)
218,960
1,907,142‌
Skyworks
Solutions,
Inc.
22,497
2,180,634‌
STMicroelectronics
NV (b)
94,796
4,497,123‌
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
-
ADR
40,291
3,920,717‌
Teradyne,
Inc. (b)
3,564
328,708‌
Tokyo
Electron
Ltd.
-
ADR
11,457
918,680‌
United
Microelectronics
Corp.
-
ADR (b)
75,936
591,541‌
Universal
Display
Corp. (b)
1,792
303,206‌
61,514,128‌
Software
&
Services
—
3.65%
Adeia,
Inc.
2,819
25,907‌
Adobe,
Inc. (a)
6,155
3,760,767‌
Agora,
Inc.
-
ADR (a)
1,561
3,918‌
AppLovin
Corp.
-
Class
A (a)
5,152
193,097‌
Atos
SE
-
ADR (a)(b)
73,141
88,866‌
Chindata
Group
Holdings
Ltd.
-
ADR (a)(b)
2,906
24,469‌
Cognizant
Technology
Solutions
Corp.
-
Class
A
18,664
1,313,572‌
19
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Software
&
Services
—
3.65%
(Continued)
Digital
Turbine,
Inc. (a)
14,025
$
65,216‌
DigitalOcean
Holdings,
Inc. (a)(b)
479
14,188‌
Dolby
Laboratories,
Inc.
-
Class
A (b)
1,563
134,621‌
Dropbox,
Inc.
-
Class
A (a)
20,565
579,522‌
Dynatrace,
Inc. (a)
2,570
137,624‌
Ebix,
Inc. (b)
5,081
20,019‌
EPAM
Systems,
Inc. (a)
4,106
1,060,128‌
Fair
Isaac
Corp. (a)
988
1,074,549‌
Fastly,
Inc.
-
Class
A (a)(b)
4,122
68,466‌
GDS
Holdings
Ltd.
-
ADR (a)
2,693
27,603‌
Gen
Digital,
Inc.
7,761
171,363‌
InterDigital,
Inc. (b)
2,037
203,537‌
Kingsoft
Cloud
Holdings
Ltd.
-
ADR (a)(b)
15,973
69,802‌
Kyndryl
Holdings,
Inc. (a)
5,526
99,634‌
LiveRamp
Holdings,
Inc. (a)
3,081
102,166‌
Microsoft
Corp.
42,266
16,015,010‌
MongoDB,
Inc. (a)(b)
1,409
585,778‌
N-able,
Inc. (a)
12,777
152,174‌
NCR
Corp. (a)
2,805
43,982‌
Okta,
Inc. (a)
4,617
309,570‌
OneConnect
Financial
Technology
Co.
Ltd.
-
ADR (a)
13,328
41,850‌
Opera
Ltd.
-
ADR (b)
30,669
340,426‌
Oracle
Corp.
7,530
875,061‌
Palantir
Technologies,
Inc.
-
Class
A (a)
52,041
1,043,422‌
Salesforce,
Inc. (a)
8,749
2,203,873‌
SAP
SE
-
ADR (b)
302
48,054‌
Sprinklr,
Inc.
-
Class
A (a)
1,930
30,262‌
Synopsys,
Inc. (a)
125
67,904‌
Teradata
Corp. (a)
436
20,601‌
Tuya,
Inc.
-
ADR (a)
27,385
60,795‌
UiPath,
Inc.
-
Class
A (a)
3,446
68,093‌
Vnet
Group,
Inc.
-
ADR (a)
67,116
187,925‌
31,333,814‌
Technology
Hardware
&
Equipment
—
3.65%
AAC
Technologies
Holdings,
Inc.
-
ADR
8,793
23,829‌
Advanced
Energy
Industries,
Inc. (b)
4,744
450,917‌
Amphenol
Corp.
-
Class
A
32,497
2,956,902‌
Apple,
Inc.
11,905
2,261,355‌
Arista
Networks,
Inc. (a)
5,910
1,298,486‌
Avnet,
Inc.
6,174
288,696‌
Belden,
Inc.
5,176
343,893‌
Canaan,
Inc.
-
ADR (a)(b)
18,157
27,417‌
Canon,
Inc.
-
ADR
2,560
65,958‌
20
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Technology
Hardware
&
Equipment
—
3.65%
(Continued)
CDW
Corp./DE
6,832
$
1,440,732‌
Cisco
Systems,
Inc.
68,449
3,311,562‌
Corning,
Inc.
1,393
39,687‌
Dell
Technologies,
Inc.
-
Class
C
32,818
2,489,902‌
F5,
Inc. (a)
189
32,355‌
Fabrinet (a)
2,524
408,636‌
FUJIFILM
Holdings
Corp.
-
ADR
20,410
1,190,719‌
Hewlett
Packard
Enterprise
Co.
97,196
1,643,584‌
Insight
Enterprises,
Inc. (a)(b)
6,480
981,202‌
IPG
Photonics
Corp. (a)
669
64,063‌
Jabil,
Inc.
7,196
829,843‌
Keysight
Technologies,
Inc. (a)
6,197
842,110‌
Lenovo
Group
Ltd.
-
ADR
16,856
415,669‌
Littelfuse,
Inc.
687
159,934‌
Logitech
International
SA (b)
23,835
2,090,330‌
NetApp,
Inc.
12,761
1,166,228‌
OSI
Systems,
Inc. (a)
4,358
537,298‌
Ricoh
Co.
Ltd.
-
ADR
77,028
628,548‌
Super
Micro
Computer,
Inc. (a)
1,593
435,638‌
TE
Connectivity
Ltd.
19,691
2,579,521‌
Teledyne
Technologies,
Inc. (a)
2,855
1,150,451‌
Vishay
Intertechnology,
Inc.
23,966
532,764‌
Vontier
Corp.
1,663
56,093‌
VTech
Holdings
Ltd.
-
ADR (b)
83,368
496,373‌
31,240,695‌
Telecommunication
Services
—
1.38%
AT&T,
Inc.
52,639
872,228‌
Deutsche
Telekom
AG
-
ADR
111,860
2,682,403‌
Koninklijke
KPN
NV
-
ADR
9,412
32,001‌
KT
Corp.
-
ADR (b)
24,502
319,996‌
Magyar
Telekom
Telecommunications
PLC
-
ADR
25,170
216,462‌
Mobile
TeleSystems
PJSC
-
ADR (a),(c)
46,068
–‌
Nippon
Telegraph
&
Telephone
Corp.
-
ADR
62,760
1,834,475‌
Orange
SA
-
ADR
291,577
3,484,345‌
Rostelecom
PJSC
-
ADR (a),(c)
24,510
–‌
SK
Telecom
Co.
Ltd.
-
ADR (b)
5,072
114,120‌
Swisscom
AG
-
ADR
1,467
85,497‌
Telecom
Italia
SpA/Milano
-
ADR (a)
350,500
1,002,695‌
Telefonica
SA
-
ADR
38,927
166,218‌
Telenor
ASA
-
ADR
64,539
689,922‌
Telephone
and
Data
Systems,
Inc.
7,832
154,290‌
T-Mobile
US,
Inc.
1,018
153,158‌
United
States
Cellular
Corp. (a)
813
36,935‌
21
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Telecommunication
Services
—
1.38%
(Continued)
$
11,844,745‌
Transportation
—
2.36%
Air
France-KLM
-
ADR (a)
27,177
34,515‌
Allegiant
Travel
Co.
1,054
72,188‌
American
Airlines
Group,
Inc. (a)
25,317
314,690‌
AP
Moller
-
Maersk
AS
-
ADR
85,099
666,325‌
ArcBest
Corp.
2,399
285,937‌
Avis
Budget
Group,
Inc. (a)(b)
60
10,971‌
bpost
SA
-
ADR (b)
8,226
43,080‌
Delta
Air
Lines,
Inc.
18,542
684,756‌
Deutsche
Lufthansa
AG
-
ADR (a)
46,656
405,067‌
DHL
Group
-
ADR
30,894
1,452,018‌
DiDi
Global,
Inc.
-
ADR (a)
36,562
145,151‌
DSV
AS
-
ADR
13,684
1,030,268‌
Expeditors
International
of
Washington,
Inc. (b)
19,357
2,329,422‌
FedEx
Corp.
8,059
2,085,911‌
Grupo
Aeroportuario
del
Centro
Norte
SAB
de
CV
-
ADR
1,352
96,830‌
Grupo
Aeroportuario
del
Pacifico
SAB
de
CV
-
ADR (b)
190
28,929‌
Grupo
Aeroportuario
del
Sureste
SAB
de
CV
-
ADR
806
189,781‌
GXO
Logistics,
Inc. (a)
4,797
269,879‌
Hub
Group,
Inc.
-
Class
A (a)
3,768
284,672‌
International
Consolidated
Airlines
Group
SA
-
ADR (a)
170,829
651,713‌
JB
Hunt
Transport
Services,
Inc. (b)
4,083
756,457‌
Kuehne
+
Nagel
International
AG
-
ADR (b)
8,069
467,034‌
Matson,
Inc.
869
83,224‌
Nippon
Yusen
KK
-
ADR (b)
138,962
743,447‌
Ryanair
Holdings
PLC
-
ADR (a)
38,380
4,537,283‌
Ryder
System,
Inc.
6,026
645,626‌
Schneider
National,
Inc.
-
Class
B
25,457
586,275‌
SkyWest,
Inc. (a)
4,064
192,146‌
United
Airlines
Holdings,
Inc. (a)
29,157
1,148,786‌
United
Parcel
Service,
Inc.
-
Class
B
264
40,025‌
20,282,406‌
Utilities
—
1.84%
AGL
Energy
Ltd.
-
ADR
4,422
26,444‌
ALLETE,
Inc.
2,308
128,048‌
Centrica
PLC
-
ADR
59,309
453,714‌
Cia
Energetica
de
Minas
Gerais
-
ADR
29,807
97,171‌
Consolidated
Edison,
Inc.
40,000
3,604,400‌
Edison
International
679
45,486‌
Enel
Chile
SA
-
ADR
35,875
116,594‌
Enel
SpA
-
ADR (b)
37,070
259,675‌
ENN
Energy
Holdings
Ltd.
-
ADR
964
26,529‌
22
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
73.24%
(Continued)
Utilities
—
1.84%
(Continued)
Entergy
Corp.
422
$
42,795‌
Evergy,
Inc.
759
38,739‌
Iberdrola
SA
-
ADR
56,191
2,782,016‌
Kunlun
Energy
Co.
Ltd.
-
ADR
7,803
73,426‌
National
Grid
PLC
-
ADR (b)
43,162
2,849,123‌
New
Jersey
Resources
Corp.
258
10,888‌
NiSource,
Inc.
1,559
39,973‌
NorthWestern
Corp. (b)
1,463
73,604‌
ONE
Gas,
Inc. (b)
1,823
105,059‌
Otter
Tail
Corp. (b)
5,775
440,690‌
Pampa
Energia
SA
-
ADR (a)
3,501
164,407‌
PG&E
Corp. (a)
91,217
1,566,196‌
Public
Service
Enterprise
Group,
Inc.
2,077
129,667‌
Tenaga
Nasional
Bhd
-
ADR
1,839
15,540‌
Tokyo
Gas
Co.
Ltd.
-
ADR
73,366
820,966‌
Veolia
Environnement
SA
-
ADR
14,918
234,750‌
Vistra
Corp.
47,329
1,675,920‌
15,821,820‌
TOTAL
COMMON
STOCKS
(Cost
$512,526,067)
628,322,766‌
REAL
ESTATE
INVESTMENT
TRUSTS
—
1.96%
Consumer
Durables
&
Apparel
—
0.02%
Cyrela
Brazil
Realty
SA
Empreendimentos
e
Participacoes
-
ADR
48,181
203,883‌
Equity
Real
Estate
Investment
Trusts
(REITs)
—
1.85%
Acadia
Realty
Trust (b)
1,829
27,654‌
Apple
Hospitality
REIT,
Inc. (b)
61,260
1,021,204‌
Boston
Properties,
Inc.
2,067
117,674‌
Brixmor
Property
Group,
Inc.
19,296
415,250‌
Broadstone
Net
Lease,
Inc.
7,651
122,416‌
DiamondRock
Hospitality
Co. (b)
52,401
435,976‌
Empire
State
Realty
Trust,
Inc.
-
Class
A
35,832
321,055‌
EPR
Properties (b)
14,657
653,995‌
Essential
Properties
Realty
Trust,
Inc. (b)
6,315
149,981‌
Host
Hotels
&
Resorts,
Inc. (b)
175,397
3,064,187‌
Innovative
Industrial
Properties,
Inc. (b)
830
67,778‌
Iron
Mountain,
Inc.
2,610
167,432‌
Park
Hotels
&
Resorts,
Inc. (b)
23,815
353,176‌
Regency
Centers
Corp.
48,790
3,063,037‌
RPT
Realty
29,429
341,965‌
Service
Properties
Trust (b)
32,521
232,525‌
Simon
Property
Group,
Inc.
19,366
2,418,620‌
23
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
REAL
ESTATE
INVESTMENT
TRUSTS
—
1.96%
(Continued)
Equity
Real
Estate
Investment
Trusts
(REITs)
—
1.85%
(Continued)
SITE
Centers
Corp.
11,131
$
146,818‌
Sunstone
Hotel
Investors,
Inc.
12,522
123,717‌
Tanger
Factory
Outlet
Centers,
Inc. (b)
11,782
294,079‌
VICI
Properties,
Inc.
21,843
652,887‌
Weyerhaeuser
Co.
27,466
861,059‌
WP
Carey,
Inc. (b)
13,185
820,634‌
15,873,119‌
Financial
Services
—
0.09%
Ladder
Capital
Corp.
17,378
194,807‌
PennyMac
Mortgage
Investment
Trust
1,073
15,065‌
Rithm
Capital
Corp. (b)
54,049
561,029‌
770,901‌
TOTAL
REAL
ESTATE
INVESTMENT
TRUSTS
(Cost
$16,063,941)
16,847,903‌
PREFERRED
STOCKS
—
0.12%
Banks
—
0.02%
Bancolombia
SA
-
ADR
 (d)
5,188
143,137‌
Energy
—
0.07%
Petroleo
Brasileiro
SA
-
ADR
 (d)
39,525
575,089‌
Surgutneftegas
PJSC
-
ADR
 (c)(d)
47,748
–‌
575,089‌
Materials
—
0.03%
Gerdau
SA
-
ADR
 (d)
66,068
294,663‌
Utilities
—
0.00%
Cia
Energetica
de
Minas
Gerais
-
ADR
 (d)
11,233
24,825‌
TOTAL
PREFERRED
STOCKS
(Cost
$1,127,813)
1,037,714‌
24
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
EXCHANGE
TRADED
FUNDS
—
24.37%
iShares
Core
S&P
Small-Cap
ETF
90,958
$
8,753,798‌
iShares
MSCI
EAFE
ETF (b)
331,799
24,028,884‌
iShares
MSCI
Emerging
Markets
ETF (b)
123,260
4,876,166‌
iShares
Russell
1000
ETF (b)
93,242
23,376,702‌
iShares
Russell
2000
ETF (b)
42,205
7,582,550‌
SPDR
S&P
500
ETF
Trust
57,896
26,423,733‌
Vanguard
FTSE
All-World
ex-US
ETF
467,399
25,398,462‌
Vanguard
FTSE
Developed
Markets
ETF (b)
566,087
26,017,358‌
Vanguard
FTSE
Emerging
Markets
ETF
131,093
5,326,309‌
Vanguard
Large-Cap
ETF (b)
107,950
22,629,559‌
Vanguard
S&P
500
ETF
60,430
25,344,342‌
Vanguard
Small-Cap
ETF (b)
47,794
9,292,587‌
TOTAL
EXCHANGE
TRADED
FUNDS
(Cost
$191,307,630)
209,050,450‌
MONEY
MARKET
FUNDS
—
0.14%
First
American
Government
Obligations
Fund
-
X
Class,
5.289% (e)
1,218,432
1,218,432‌
TOTAL
MONEY
MARKET
FUNDS
(Cost
$1,218,432)
1,218,432‌
INVESTMENTS
PURCHASED
WITH
PROCEEDS
FROM
SECURITIES
LENDING
—
23.81%
Mount
Vernon
Liquid
Assets
Portfolio,
LLC
204,258,991
204,258,991‌
TOTAL
INVESTMENTS
PURCHASED
WITH
PROCEEDS
FROM
SECURITIES
LENDING
(Cost
$204,258,991)
204,258,991‌
Total
Investments
(Cost
$926,502,874)
—
123.64%
$
1,060,736,256‌
Liabilities
in
Excess
of
Other
Assets
—
(23.64)%
(202,820,797‌)
TOTAL
NET
ASSETS
—
100.00%
$
857,915,459‌
Percentages
are
stated
as
a
percent
of
net
assets.
AB
Aktiebolag
is
a
Swedish
term
for
a
stock
company.
ADR
American
Depositary
Receipt
AG
Aktiengesellschaft
is
a
German
term
that
refers
to
a
corporation
that
is
limited
by
shares,
i.e.
owned
by
shareholders.
AMBAC
American
Municipal
Bond
Assurance
Corporation
ASA
Allmennaksjeselskap
is
a
Norwegian
term
for
a
stock
company.
GDR
Global
Depositary
Receipt
KGaA
Kommanditgesellschaft
auf
Aktien
is
a
German
term
that
refers
to
a
Limited
Partnership
that
has
shares.
NV
Naamloze
Vennootschap
is
a
Dutch
term
for
publicly
traded
companies.
PJSC
An
abbreviation
used
by
many
countries
to
signify
an
open
joint-stock
company.
PLC
Public
Limited
Company
SAB
de
CV
Sociedad
Anonima
de
Capital
Variable
is
a
Spanish
term
for
an
SA
with
variable
capital.
25
PMC
Diversified
Equity
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
The
Global
Industry
Classification
Standard
(GICS®)
was
developed
by
and/or
is
the
exclusive
property
of
MSCI,
Inc.
and
Standard
&
Poor
Financial
Services
LLC
(“S&P”).
GICS
is
a
service
mark
of
MSCI
and
S&P
and
has
been
licensed
for
use
by
U.S.
Bancorp
Fund
Services,
LLC
SA
An
abbreviation
used
by
many
countries
to
signify
a
stock
company
whereby
shareholders
have
limited
liability.
SCA
Societe
en
commandite
par
actions
is
a
Belgian
term
for
limited
partnership
with
share
capital.
SE
Societas
Europaea
is
a
term
for
a
European
Public
Liability
Company.
SPDR
Standard
&
Poor's
Depositary
Receipt
SpA
Soicieta
per
Azioni
is
an
Italian
term
for
limited
share
company.
(a)
Non-income
producing
security.
(b)
All
or a portion
of
this
security
is
out
on
loan
as
of
November
30,
2023.  Total
value
of
securities
out
on
loan
is
$200,126,252.
(c)
Value
determined
using
significant
unobservable
inputs.
(d)
Perpetual
preferred
stock
with
no
stated
maturity.
(e)
The
rate
shown
represents
the
seven-day
yield
as
of
November
30,
2023.
26
Notes
to
Schedule
of
Investments
November
30,
2023
(Unaudited)
Investment
Valuation 
Each
equity
security
owned
by the
Fund
that
is
listed
on
a
securities
exchange,
except
for
securities
listed
on
the
NASDAQ
Stock
Market
LLC
(“NASDAQ”),
is
valued
at
its
last
sale
price
at
the
close
of
that
exchange
on
the
date
as
of
which
assets
are
valued.
If
a
security
is
listed
on
more
than
one
exchange,
the
Fund
will
use
the
price
on
the
exchange
that
the
Fund
generally
considers
to
be
the
principal
exchange
on
which
the
security
is
traded.
Fund
securities
listed
on
NASDAQ
will
be
valued
at
the
NASDAQ
Official
Closing
Price
(“NOCP”),
which
may
not
necessarily
represent
the
last
sale
price.
If
the
NOCP
is
not
available,
such
securities
shall
be
valued
at
the
last
sale
price
on
the
day
of
valuation.
If
there
has
been
no
sale
on
such
exchange
or
on
NASDAQ
on
such
day,
the
security
is
valued
at
(i)
the
mean
between
the
most
recent
quoted
bid
and
asked
prices
at
the
close
of
the
exchange
on
such
day
or
(ii)
the
latest
sales
price
on
the
Composite
Market
for
the
day
such
security
is
being
valued.
“Composite
Market”
means
a
consolidation
of
the
trade
information
provided
by
national
securities
and
foreign
exchanges
and
over-the
counter
markets
as
published
by
a
pricing
service.
If
market
quotations
are
not
readily
available,
any
security
or
other
asset
will
be
valued
at
its
fair
value
in
accordance
with
Rule
2a-5
of
the
1940
Act
as
determined
under
the
Adviser's
fair
value
procedures,
subject
to
oversight
by
the
Board
of
Trustees.
These
fair
value
procedures
will
also
be
used
to
price
a
security
when
corporate
events,
events
in
the
securities
market
and/or
world
events
cause
the
Adviser
to
believe
that
a
security’s
last
sale
price
may
not
reflect
its
actual
fair
market
value.
The
intended
effect
of
using
fair
value
pricing
procedures
is
to
ensure
that
the
Fund
is
accurately
priced.
The
Adviser
will
regularly
evaluate
whether
the
Fund’s
fair
value
pricing
procedures
continue
to
be
appropriate
in
light
of
the
specific
circumstances
of
the
Fund
and
the
quality
of
prices
obtained
through
their
application
of
such
procedures. 
In
the
case
of
foreign
securities,
the
occurrence
of
certain
events
after
the
close
of
foreign
markets,
but
prior
to
the
time
the
Fund’s
net
asset
value
(“NAV”)
is
calculated
(such
as
a
significant
surge
or
decline
in
the
U.S.
or
other
markets)
often
will
result
in
an
adjustment
to
the
trading
prices
of
foreign
securities
when
foreign
markets
open
on
the
following
business
day.
If
such
events
occur,
the
Fund
will
value
foreign
securities
at
fair
value,
taking
into
account
such
events,
in
calculating
the
NAV.
In
such
cases,
use
of
fair
valuation
can
reduce
an
investor’s
ability
to
seek
to
profit
by
estimating
the
Fund's
NAV
in
advance
of
the
time
the
NAV
is
calculated. 
Redeemable
securities
issued
by
open-end,
registered
investment
companies,
including
money
market
mutual
funds,
are
valued
at
the
NAVs
of
such
companies
for
purchase
and/
or
redemption
orders
placed
on
that
day.
If,
on
a
particular
day,
a
share
of
an
investment
company
is
not
listed
on
NASDAQ,
such
security’s
fair
value
will
be
determined.
Money
market
mutual
funds
are
valued
at
cost.
If
cost
does
not
represent
current
market
value
the
securities
will
be
priced
at
fair
value. 
27
Notes
to
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
The
Trust has
adopted
Statement
of
Financial
Accounting
Standards,
“Fair
Value
Measurements
and
Disclosures,”
which
requires the
Fund
to
classify
its
securities
based
on
a
valuation
method.
These
inputs
are
summarized
in
the
three
broad
levels
listed
below:
Level
1—Quoted
prices
in
active
markets
for
identical
securities.
Level
2—Other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
prepayment
speeds,
credit
risk,
etc.).
Level
3—Significant
unobservable
inputs
(including
a
Fund's
own
assumptions
in
determining
the
fair
value
of
investments).
The
inputs
or
methodology
used
for
valuing
securities
are
not
necessarily
an
indication
of
the
risk
associated
with
investing
in
those
securities.
The
following
is
a
summary
of
the
inputs
used
to
value
the
Fund's
investments
carried
at
fair
value
as
of
November
30,
2023: 
PMC
Diversified
Equity
Fund
Level
1
Level
2
Level
3
Total
Assets
(1)
:
Equities:
Common
Stocks
$
624,688,617‌
$
3,634,149‌
$
–‌
$
628,322,766‌
Preferred
Stocks
1,037,714‌
–‌
–‌
1,037,714‌
Real
Estate
Investment
Trusts
16,847,903‌
–‌
–‌
16,847,903‌
Total
Equity
Securities
642,574,234‌
3,634,149‌
–‌
646,208,383‌
Investment
Company:
Exchange
Traded
Funds
209,050,450‌
–‌
–‌
209,050,450‌
Investments
Purchased
with
Proceeds
from
Securities
Lending
–‌
–‌
–‌
204,258,991‌
Total
Investment
Company
209,050,450‌
–‌
–‌
413,309,441‌
Money
Market
Funds
1,218,432‌
–‌
–‌
1,218,432‌
Total
Investments
in
Securities
$
852,843,116‌
$
3,634,149‌
$
–‌
$
1,060,736,256‌
(1)
See
the
Schedule
of
Investments
for
industry
classifications.