NPORT-EX 2 acv-soi.htm

The Olstein All Cap Value Fund
  
Schedule of Investments
  
as of March 31, 2024 (Unaudited)
  
   
COMMON STOCKS - 90.8%
  
Shares
    
Value
  
Advertising Agencies - 1.5%
        
Omnicom Group, Inc.
    
90,000
    
$
8,708,400
  
                 
Aerospace & Defense - 3.5%
          
General Dynamics Corporation
    
11,000
      
3,107,390
  
L3Harris Technologies, Inc.
    
40,000
      
8,524,000
  
RTX Corporation (a)
    
90,000
      
8,777,700
  
             
20,409,090
  
                 
Air Delivery & Freight Services - 2.8%
          
FedEx Corporation
    
27,000
      
7,822,980
  
United Parcel Service, Inc. - Class B
    
58,000
      
8,620,540
  
             
16,443,520
  
                 
Airlines - 2.8%
          
Delta Air Lines, Inc.
    
168,000
      
8,042,160
  
Southwest Airlines Company
    
270,000
      
7,881,300
  
             
15,923,460
  
                 
Auto Components - 0.6%
          
Aptiv PLC (b)
    
42,000
      
3,345,300
  
                 
Auto Manufacturers - 1.4%
          
General Motors Company
    
180,607
      
8,190,527
  
                 
Automobiles - 0.5%
          
Winnebago Industries, Inc.(a)
    
39,500
      
2,923,000
  
                 
Building Products - 0.7%
          
Carrier Global Corporation (a)
    
73,000
      
4,243,490
  
                 
Capital Markets - 1.2%
          
Goldman Sachs Group, Inc.
    
16,000
      
6,683,040
  
                 
Chemicals - 4.1%
          
Corteva, Inc.
    
157,000
      
9,054,190
  
Eastman Chemical Company
    
54,000
      
5,411,880
  
International Flavors & Fragrances, Inc.(a)
    
108,000
      
9,286,920
  
             
23,752,990
  
                 
Commercial Banks - 6.1%
          
Citizens Financial Group, Inc.
    
245,217
      
8,898,925
  
Fifth Third Bancorp (a)
    
242,000
      
9,004,820
  
U.S. Bancorp
    
215,660
      
9,640,002
  
Wells Fargo & Company
    
130,000
      
7,534,800
  
             
35,078,547
  
                 
Commercial Services - 0.9%
          
Moody's Corporation
    
6,500
      
2,554,695
  
S&P Global, Inc.
    
6,500
      
2,765,425
  
             
5,320,120
  
                 
Commercial Services & Supplies - 2.8%
          
ABM Industries, Inc.
    
225,953
      
10,082,023
  
Korn Ferry
    
90,414
      
5,945,624
  
             
16,027,647
  
                 
Communications Equipment - 1.5%
          
Cisco Systems, Inc.
    
176,000
      
8,784,160
  
                 
Computers - 0.4%
          
Apple, Inc.
    
14,500
      
2,486,460
  
                 
Consumer Finance - 2.1%
          
American Express Company
    
18,500
      
4,212,265
  
Equifax, Inc. (a)
    
10,000
      
2,675,200
  
MasterCard, Inc. - Class A
    
5,093
      
2,452,636
  
Visa, Inc. - Class A (a)
    
10,500
      
2,930,340
  
             
12,270,441
  
                 
Consumer Staples Distribution & Retail - 1.3%
          
Target Corporation
    
41,000
      
7,265,610
  
                 
Distributors - 1.4%
          
LKQ Corporation
    
147,619
      
7,884,331
  
                 
Diversified Financial Services - 2.0%
          
Berkshire Hathaway, Inc. - Class B (b)
    
13,500
      
5,677,020
  
Invesco Ltd.
    
358,996
      
5,955,744
  
             
11,632,764
  
                 
E-Commerce - 1.0%
          
eBay, Inc.
    
111,784
      
5,899,960
  
                 
Electronic Equipment, Instruments & Components - 0.9%
          
Vontier Corporation
    
111,600
      
5,062,176
  
                 
Electronics - 1.8%
          
Sensata Technologies Holding PLC
    
282,500
      
10,379,050
  
                 
Energy Equipment & Services - 1.4%
          
Schlumberger Ltd.
    
149,000
      
8,166,690
  
                 
Entertainment - 1.3%
          
Warner Bros Discovery, Inc. (a)(b)
    
849,000
      
7,411,770
  
                 
Food & Drug Retailers - 1.8%
          
CVS Health Corporation
    
129,000
      
10,289,040
  
                 
Food Products - 0.5%
          
Hormel Foods Corporation
    
84,000
      
2,930,760
  
                 
Health Care Equipment & Supplies - 6.7%
          
Baxter International, Inc.
    
222,000
      
9,488,280
  
Becton, Dickinson and Company
    
27,000
      
6,681,150
  
Hologic, Inc. (b)
    
92,000
      
7,172,320
  
Medtronic PLC
    
102,000
      
8,889,300
  
Zimmer Biomet Holdings, Inc. (a)
    
50,600
      
6,678,188
  
             
38,909,238
  
                 
Health Care Providers & Services - 3.2%
          
Quest Diagnostics Inc.
    
67,000
      
8,918,370
  
UnitedHealth Group, Inc.
    
14,500
      
7,173,150
  
Universal Health Services, Inc. - Class B
    
12,000
      
2,189,520
  
             
18,281,040
  
                 
Hotels, Restaurants & Leisure - 0.9%
          
Denny's Corporation(b)
    
563,400
      
5,048,064
  
                 
Household Durables - 1.3%
          
Mohawk Industries, Inc.(b)
    
59,250
      
7,755,232
  
                 
Household Products - 2.2%
          
Kimberly-Clark Corporation
    
48,000
      
6,208,800
  
Reynolds Consumer Products, Inc.
    
227,950
      
6,510,252
  
             
12,719,052
  
                 
Industrial Equipment Wholesale - 1.4%
          
WESCO International, Inc.
    
47,550
      
8,144,364
  
                 
Insurance - 2.5%
          
Travelers Companies, Inc.
    
31,000
      
7,134,340
  
Willis Towers Watson PLC
    
26,500
      
7,287,500
  
             
14,421,840
  
                 
Interactive Media & Services - 0.5%
          
Meta Platforms, Inc. - Class A
    
6,500
      
3,156,270
  
                 
Internet Software & Services - 1.0%
          
Alphabet, Inc. - Class C (b)
    
38,000
      
5,785,880
  
                 
IT Services - 3.0%
          
Fidelity National Information Services, Inc.
    
99,000
      
7,343,820
  
SS&C Technologies Holdings, Inc.
    
155,483
      
10,008,441
  
             
17,352,261
  
                 
Machinery - 6.4%
          
Cummins, Inc.
    
23,500
      
6,924,275
  
Deere & Company
    
20,500
      
8,420,170
  
Dover Corporation
    
31,000
      
5,492,890
  
Fortive Corporation
    
49,059
      
4,220,055
  
Middleby Corporation (b)
    
29,000
      
4,662,910
  
Stanley Black & Decker, Inc.
    
72,000
      
7,050,960
  
             
36,771,260
  
                 
Materials - 0.6%
          
Axalta Coating Systems Ltd.(b)
    
98,905
      
3,401,343
  
                 
Media - 3.2%
          
Comcast Corporation - Class A
    
90,000
      
3,901,500
  
Walt Disney Company
    
119,000
      
14,560,840
  
             
18,462,340
  
                 
Pharmaceuticals - 2.9%
          
Avantor, Inc. (b)
    
294,184
      
7,522,285
  
Johnson & Johnson
    
60,000
      
9,491,400
  
             
17,013,685
  
                 
Real Estate Management & Development - 2.5%
          
CBRE Group, Inc. - Class A (b)
    
80,000
      
7,779,200
  
Jones Lang LaSalle, Inc.
    
35,956
      
7,014,656
  
             
14,793,856
  
                 
Restaurants - 2.1%
          
Cracker Barrel Old Country Store, Inc. (a)
    
64,996
      
4,727,159
  
Dine Brands Global, Inc.
    
159,600
      
7,418,208
  
             
12,145,367
  
                 
Semiconductors & Semiconductor Equipment - 2.1%
          
Kulicke and Soffa Industries, Inc. (a)
    
154,000
      
7,747,740
  
Texas Instruments, Inc.
    
26,500
      
4,616,565
  
             
12,364,305
  
                 
Software - 0.5%
          
Microsoft Corporation
    
7,000
      
2,945,040
  
                 
Telecommunications - 1.5%
          
Corning, Inc.
    
257,000
      
8,470,720
  
TOTAL COMMON STOCKS (Cost $436,328,512)
      
525,453,500
  
                 
SHORT-TERM INVESTMENTS - 8.8%
                
Investments Purchased with Proceeds from Securities Lending - 8.8%
  
Shares
          
Mount Vernon Liquid Assets Portfolio, LLC, 5.44% (c)
    
50,852,502
      
50,852,502
  
TOTAL SHORT-TERM INVESTMENTS (Cost $50,852,502)
      
50,852,502
  
                 
TOTAL INVESTMENTS - 99.6% (Cost $487,181,014)
    
$
576,306,002
  
Money Market Deposit Account - 8.4% (d)
      
48,514,827
  
Liabilities in Excess of Other Assets - (8.0)%
      
(46,137,755
)
TOTAL NET ASSETS - 100.0%
          
$
578,683,074
  
               
Percentages are stated as a percent of net assets.
          

PLC - Public Limited Company

(a)
All or a portion of this security is on loan as of March 31, 2024. The total market value of these securities was $49,997,749 which represented 8.6% of net assets.
(b)
Non-income producing security.
(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 All Cap Value Fund
  
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
  Common Stocks
  
$
525,453,500
      
–
      
–
    
$
525,453,500
  
  Investments Purchased with Proceeds from Securities Lending (a)
    
50,852,502
      
–
      
–
      
50,852,502
  
Total Assets
  
$
576,306,002
      
–
      
–
    
$
576,306,002
  

(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.