NPORT-EX 2 so-soi.htm
   
The Olstein Strategic Opportunities Fund
  
Schedule of Investments
  
as of March 31, 2024 (Unaudited)
  
   
COMMON STOCKS - 95.2%
  
Shares
    
Value
  
Auto Components - 2.2%
        
Miller Industries, Inc.
    
39,000
    
$
1,953,900
  
                 
Auto Manufacturers - 3.9%
          
Blue Bird Corporation (a)
    
92,000
      
3,527,280
  
                 
Automobiles - 1.5%
          
Winnebago Industries, Inc. (b)
    
17,500
      
1,295,000
  
                 
Banks - 2.4%
          
First Hawaiian, Inc.
    
98,000
      
2,152,080
  
                 
Commercial Banks - 7.7%
          
Citizens Financial Group, Inc.
    
80,783
      
2,931,615
  
Home BancShares, Inc. (b)
    
87,000
      
2,137,590
  
Prosperity Bancshares, Inc.
    
28,000
      
1,841,840
  
             
6,911,045
  
                 
Commercial Services & Supplies - 7.9%
          
ABM Industries, Inc.
    
64,000
      
2,855,680
  
Brady Corporation - Class A
    
37,000
      
2,193,360
  
Korn Ferry
    
30,586
      
2,011,335
  
             
7,060,375
  
                 
Diversified Financial Services - 2.9%
          
Invesco Ltd.
    
155,950
      
2,587,211
  
                 
Electronic Equipment, Instruments & Components - 4.4%
          
Vishay Intertechnology, Inc.(b)
    
104,000
      
2,358,720
  
Vontier Corp.
    
34,900
      
1,583,064
  
             
3,941,784
  
                 
Electronics - 3.8%
          
Sensata Technologies Holding PLC
    
94,500
      
3,471,930
  
                 
Entertainment - 1.7%
          
Warner Bros Discovery, Inc.(a)(b)
    
175,200
      
1,529,496
  
                 
Health Care Equipment & Supplies - 2.1%
          
Zimmer Biomet Holdings, Inc.(b)
    
14,400
      
1,900,512
  
                 
Health Care Products - 3.9%
          
Integra LifeSciences Holdings Corporation(a)(b)
    
100,000
      
3,545,000
  
                 
Hotels, Restaurants & Leisure - 2.5%
          
Denny's Corporation(a)
    
252,413
      
2,261,621
  
                 
Household Durables - 6.7%
          
Central Garden & Pet Company - Class A(a)
    
83,000
      
3,064,360
  
Mohawk Industries, Inc.(a)
    
22,750
      
2,977,747
  
             
6,042,107
  
                 
Household Products - 2.2%
          
Reynolds Consumer Products, Inc.
    
71,050
      
2,029,188
  
                 
Industrial Equipment Wholesale - 3.3%
          
WESCO International, Inc.
    
17,450
      
2,988,836
  
                 
Leisure Products - 2.6%
          
Johnson Outdoors, Inc. - Class A(b)
    
51,000
      
2,351,610
  
                 
Machinery - 13.8%
          
Douglas Dynamics, Inc.
    
44,000
      
1,061,280
  
Gates Industrial Corporation PLC(a)
    
204,000
      
3,612,840
  
Graham Corporation(a)
    
48,000
      
1,309,440
  
Middleby Corporation(a)
    
9,000
      
1,447,110
  
Shyft Group, Inc.
    
285,000
      
3,539,700
  
Timken Company
    
17,000
      
1,486,310
  
             
12,456,680
  
                 
Materials - 1.5%
          
Axalta Coating Systems Ltd.(a)
    
40,200
      
1,382,478
  
                 
Pharmaceuticals - 3.1%
          
Prestige Consumer Healthcare, Inc.(a)(b)
    
39,000
      
2,829,840
  
                 
Professional Services - 1.0%
          
First Advantage Corp.(b)
    
57,000
      
924,540
  
                 
Real Estate Management & Development - 5.2%
          
Cushman & Wakefield PLC(a)
    
233,000
      
2,437,180
  
Jones Lang LaSalle, Inc.(a)
    
11,680
      
2,278,651
  
             
4,715,831
  
                 
Restaurants - 5.0%
          
Cracker Barrel Old Country Store, Inc.(b)
    
20,004
      
1,454,891
  
Dine Brands Global, Inc.
    
66,400
      
3,086,272
  
             
4,541,163
  
                 
Semiconductors & Semiconductor Equipment - 2.6%
          
Kulicke and Soffa Industries, Inc.
    
47,000
      
2,364,570
  
                 
Transportation Equipment - 1.3%
          
Wabash National Corporation(b)
    
38,000
      
1,137,720
  
TOTAL COMMON STOCKS (Cost $76,524,836)
      
85,901,796
  
                 
SHORT-TERM INVESTMENTS - 13.0%
                
Investments Purchased with Proceeds from Securities Lending - 13.0%
  
Shares
          
Mount Vernon Liquid Assets Portfolio, LLC, 5.44%(c)
    
11,722,642
      
11,722,642
  
TOTAL SHORT-TERM INVESTMENTS (Cost $11,722,642)
      
11,722,642
  
                 
TOTAL INVESTMENTS - 108.2% (Cost $88,247,478)
    
$
97,624,438
  
Money Market Deposit Account - 4.2%(d)
      
3,798,020
  
Liabilities in Excess of Other Assets - (12.4)%
      
(11,222,257
)
TOTAL NET ASSETS - 100.0%
          
$
90,200,201
  
               
Percentages are stated as a percent of net assets.
          

PLC - Public Limited Company

(a)
Non-income producing security.
(b)
All or a portion of this security is on loan as of March 31, 2024. The total market value of these securities was $11,498,702 which represented 12.7% of net assets.
(c)
The rate shown represents the 7-day effective yield as of March 31, 2024.
(d)
The U.S. Bank Money Market Deposit Account (the “MMDA”) is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and is subject to change daily. The rate as of March 31, 2024 was 5.17%.

Summary of Fair Value Exposure
 
The Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value.  These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion in changes in valuation techniques and related inputs during the period and expanded disclosure of valuation Levels for major security types.  These inputs are summarized in the three broad Levels listed below:
 
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 inputs or methodology used for valuing securities are not 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 securities as of March 31, 2024:
 
The Olstein Strategic Opportunities Fund
  
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
  Common Stocks
  
$
85,901,796
      
–
      
–
    
$
85,901,796
  
  Investments Purchased with Proceeds from Securities Lending (a)
    
11,722,642
      
–
      
–
      
11,722,642
  
Total Assets
  
$
97,624,438
      
–
      
–
    
$
97,624,438
  
                                 
(a)
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.

Refer to the Schedule of Investments for industry classifications.