NPORT-EX 2 johcmhtml.htm
JOHCM FUNDS TRUST
JOHCM CREDIT INCOME FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
COMMON STOCKS
1.1%    
Asset Management
0.0%    
CC Neuberger Principal Holdings III(a)   104 $1,050
Specialty Finance
1.1%    
Annaly Capital Management, Inc.   3,000 63,240
TOTAL COMMON STOCKS (Cost $63,436)     64,290
    
  Percentage
of Net
Assets 		Principal Amount Value
CONVERTIBLE BONDS
18.0%    
Biotechnology & Pharmaceuticals
2.0%    
Bridgebio Pharma, Inc.
2.25%, 02/01/29 		  $50,000 18,594
Innoviva, Inc.
2.50%, 08/15/25 		  100,000 101,850
      120,444
Cable & Satellite
7.2%    
Liberty Broadband Corp.,      
1.25%, 09/30/50(b)   100,000 96,500
2.75%, 09/30/50(b)   150,000 146,093
Liberty Latin America Ltd.
2.00%, 07/15/24 		  220,000 195,250
      437,843
Internet Media & Services
2.4%    
Spotify U.S.A., Inc.
0.00%, 03/15/26 		  180,000 144,900
Leisure Facilities & Services
1.5%    
Carnival Corp.
5.75%, 12/01/27(b) 		  100,000 89,300
Software
4.9%    
1Life Healthcare, Inc.
3.00%, 06/15/25 		  100,000 96,400
Envestnet, Inc.
0.75%, 08/15/25 		  100,000 90,250
Splunk, Inc.
1.13%, 06/15/27 		  130,000 109,694
      296,344
TOTAL CONVERTIBLE BONDS (Cost $1,196,635)     1,088,831
    
  Percentage
of Net
Assets 		Shares Value
CONVERTIBLE PREFERRED STOCKS
1.0%    
Telecommunications
1.0%    
2020 Cash Mandatory Exchangeable Trust(a)(b)   50 57,201
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $50,340)     57,201
    
1
JOHCM FUNDS TRUST
JOHCM CREDIT INCOME FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Principal Amount Value
CORPORATE BONDS
58.5%    
Advertising & Marketing
3.2%    
Advantage Sales & Marketing, Inc.
6.50%, 11/15/28(b) 		  $250,000 $190,588
Aerospace & Defense
1.5%    
Hexcel Corp.
4.20%, 02/15/27 		  100,000 93,063
Apparel & Textile Products
1.5%    
Kontoor Brands, Inc.
4.13%, 11/15/29(b) 		  108,000 88,140
Asset Management
2.4%    
Charles Schwab Corp. (The)
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 4.97%)
5.38%, 06/01/25(c) 		  150,000 146,700
Banking
1.5%    
JPMorgan Chase & Co.
(Variable, U.S. SOFR + 2.75%)
4.00%, 04/01/25(d) 		  105,000 89,906
Biotechnology & Pharmaceuticals
1.6%    
AbbVie, Inc.
3.60%, 05/14/25 		  100,000 96,992
Cable & Satellite
0.7%    
CCO Holdings LLC/CCO Holdings Capital Corp.
5.38%, 06/01/29(b) 		  50,000 45,027
Commercial Support Services
2.0%    
TriNet Group, Inc.
3.50%, 03/01/29(b) 		  150,000 123,330
Consumer Services
1.6%    
Graham Holdings Co.
5.75%, 06/01/26(b) 		  100,000 98,260
Containers & Packaging
1.2%    
Berry Global, Inc.
4.88%, 07/15/26(b) 		  75,000 72,103
Electrical Equipment
4.2%    
WESCO Distribution, Inc.
7.25%, 06/15/28(b) 		  250,000 253,244
Entertainment Content
1.0%    
Activision Blizzard, Inc.
2.50%, 09/15/50 		  100,000 61,897
Health Care Facilities & Services
3.7%    
CVS Health Corp.
5.05%, 03/25/48 		  100,000 90,209
Elevance Health, Inc.
2.88%, 09/15/29 		  100,000 88,092
IQVIA, Inc.
5.00%, 10/15/26(b) 		  50,000 47,734
      226,035
2
JOHCM FUNDS TRUST
JOHCM CREDIT INCOME FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Principal Amount Value
Internet Media & Services
13.3%    
Netflix, Inc.
6.38%, 05/15/29 		  $260,000 $267,615
TripAdvisor, Inc.
7.00%, 07/15/25(b) 		  300,000 296,410
Uber Technologies, Inc.,      
8.00%, 11/01/26(b)   150,000 150,516
4.50%, 08/15/29(b)   100,000 87,126
      801,667
Leisure Products
2.4%    
Mattel, Inc.
5.88%, 12/15/27(b) 		  150,000 147,006
Machinery
0.7%    
Flowserve Corp.
3.50%, 10/01/30 		  50,000 41,709
Medical Equipment & Devices
1.3%    
DH Europe Finance II S.a.r.l.
3.40%, 11/15/49 		  100,000 76,071
Real Estate Investment Trusts
6.0%    
American Tower Corp.
3.80%, 08/15/29 		  100,000 90,960
Digital Realty Trust L.P.
3.70%, 08/15/27 		  100,000 92,973
SBA Communications Corp.
3.13%, 02/01/29 		  30,000 24,945
VICI Properties L.P./VICI Note Co., Inc.
5.75%, 02/01/27(b) 		  160,000 155,958
      364,836
Semiconductors
2.7%    
Broadcom, Inc.
3.14%, 11/15/35(b) 		  80,000 59,092
Micron Technology, Inc.
6.75%, 11/01/29 		  100,000 101,926
      161,018
Software
3.1%    
SS&C Technologies, Inc.
5.50%, 09/30/27(b) 		  200,000 187,706
Technology Services
2.9%    
MSCI, Inc.
4.00%, 11/15/29(b) 		  200,000 174,207
TOTAL CORPORATE BONDS (Cost $3,879,386)     3,539,505
    
  Percentage
of Net
Assets 		Shares Value
EXCHANGE TRADED FUNDS
2.2%    
iShares iBoxx $ Investment Grade Corporate Bond ETF   750 79,072
iShares iBoxx High Yield Corporate Bond ETF   750 55,223
TOTAL EXCHANGE TRADED FUNDS (Cost $136,508)     134,295
    
3
JOHCM FUNDS TRUST
JOHCM CREDIT INCOME FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Principal Amount Value
FOREIGN ISSUER BONDS
4.3%    
Beverages
1.6%    
Bacardi Ltd.
4.70%, 05/15/28(b) 		  $100,000 $95,610
Oil & Gas Producers
1.6%    
BP Capital Markets PLC
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 4.04%)
4.38%, 06/22/25(c) 		  100,000 95,500
Transportation & Logistics
1.1%    
Canadian Pacific Railway Co.
3.10%, 12/02/51 		  100,000 67,664
TOTAL FOREIGN ISSUER BONDS (Cost $290,305)     258,774
    
  Percentage
of Net
Assets 		Shares Value
PREFERRED STOCKS
0.6%    
Institutional Financial Services
0.6%    
Morgan Stanley (Variable, ICE LIBOR USD 3M + 3.49%) 5.85%(d)   1,679 38,634
PREFERRED STOCKS (Cost $47,345)     38,634
    
  Percentage
of Net
Assets 		Principal Amount Value
U.S. GOVERNMENT OBLIGATIONS
5.8%    
U.S. Treasury Bonds,
2.25%, 02/15/52 		  100,000 70,219
U.S. Treasury Notes,
3.00%, 06/30/24 		  200,000 195,281
U.S. Treasury Bonds,
3.00%, 08/15/52 		  100,000 83,156
TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost $373,734)     348,656
    
  Percentage
of Net
Assets 		Shares Value
SHORT-TERM INVESTMENTS
8.0%    
Northern Institutional Treasury Portfolio (Premier Class), 3.75%(e)   485,027 485,027
TOTAL SHORT-TERM INVESTMENTS (Cost $485,027)     485,027
TOTAL INVESTMENTS

(Cost $6,522,716)
99.5%   6,015,213
NET OTHER ASSETS (LIABILITIES)
0.5%   31,419
NET ASSETS
100.0%   $6,046,632
    
(a)Non-income producing security.
(b)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers.
(c)Floating rate security. The rate presented is the rate in effect at December 31, 2022, and the related index and spread are shown parenthetically for each security.
(d)Variable or floating rate security. Security issued at a fixed coupon rate, which converts to a variable rate at a future date. Rate shown is the rate in effect as of December 31, 2022.
(e)7-day current yield as of December 31, 2022 is disclosed.
4
JOHCM FUNDS TRUST
JOHCM CREDIT INCOME FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
At December 31, 2022 the JOHCM Credit Income Fund's investments were concentrated as follows:
Fixed Income Credit Ratings % of Net Assets
BBB and above
36.1%
BB
26.2
B
12.7
NR
12.4
5
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
COMMON STOCKS
94.6%    
Brazil
6.4%    
Ambev S.A. - ADR(a)   6,693,445 $18,206,171
Arcos Dorados Holdings, Inc. - Class A   509,909 4,262,839
Petroleo Brasileiro S.A. - ADR   1,126,368 11,995,819
Suzano S.A. - ADR   1,480,040 13,675,570
      48,140,399
Canada
2.9%    
Barrick Gold Corp.   1,273,582 21,880,139
China
28.3%    
Anhui Conch Cement Co. Ltd. - Class H   6,763,054 23,565,662
China Oilfield Services Ltd.   10,356,000 12,587,196
China Resources Land Ltd.   4,550,038 20,699,799
ENN Energy Holdings Ltd.   1,422,529 19,869,957
Proya Cosmetics Co. Ltd. - Class A   831,459 20,100,973
Tencent Holdings Ltd.   1,318,540 55,906,576
TravelSky Technology Ltd.   4,287,000 9,009,795
Trip.com Group Ltd.(a)   531,216 18,321,424
Tsingtao Brewery Co. Ltd. - Class H   2,263,341 22,287,349
Xinyi Energy Holdings Ltd.   3,002,948 992,783
Xinyi Solar Holdings Ltd.   9,880,959 10,872,473
      214,213,987
Hong Kong
4.5%    
Hong Kong Exchanges & Clearing Ltd.   795,754 34,193,753
India
17.4%    
Container Corp. of India Ltd.   1,026,163 9,149,377
HDFC Bank Ltd. - ADR   440,275 30,119,213
ICICI Bank Ltd. - ADR   362,142 7,927,288
Larsen & Toubro Ltd.   961,077 24,156,028
Mahindra & Mahindra Ltd.   1,641,044 24,705,488
Reliance Industries Ltd.   239,958 7,366,858
State Bank of India   3,870,641 28,623,320
      132,047,572
Indonesia
5.6%    
Astra International Tbk PT   17,691,700 6,474,274
Bank Mandiri Persero Tbk PT   20,010,954 12,760,878
Bank Rakyat Indonesia Persero Tbk PT   39,840,474 12,631,433
Mitra Adiperkasa Tbk PT(a)   116,550,865 10,809,419
      42,676,004
Jersey
0.4%    
Centamin PLC   2,098,970 2,868,295
Mexico
8.5%    
Becle S.A.B. de C.V.   3,634,833 7,903,311
Bolsa Mexicana de Valores S.A.B. de C.V.   2,624,285 5,066,359
Cemex S.A.B. de C.V. - ADR(a)   4,210,510 17,052,565
6
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
Grupo Financiero Banorte S.A.B. de C.V., Series O   2,527,799 $18,149,199
Megacable Holdings S.A.B. de C.V.   1,527,268 4,058,294
Wal-Mart de Mexico S.A.B. de C.V.   3,544,970 12,477,843
      64,707,571
Russia
0.0%    
Gazprom PJSC - ADR(a)**   306,786 —
Globaltrans Investment PLC - REG - GDR(a)**   757,185 —
      —
South Africa
4.2%    
FirstRand Ltd.   5,498,485 19,976,482
Mr Price Group Ltd.   1,301,979 12,072,904
      32,049,386
South Korea
6.3%    
Kangwon Land, Inc.(a)   471,084 8,668,550
Samsung Electronics Co. Ltd.   735,645 32,289,845
SK Square Co. Ltd.(a)   247,473 6,587,365
      47,545,760
Taiwan
6.5%    
President Chain Store Corp.   337,144 2,980,913
Taiwan Cement Corp.   5,714,253 6,246,637
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR   278,020 20,709,710
Tong Yang Industry Co. Ltd.   3,477,683 4,854,017
Yuanta Financial Holding Co. Ltd.   20,042,490 14,124,560
      48,915,837
United Arab Emirates
3.6%    
Emaar Properties PJSC   14,305,871 22,759,644
Fertiglobe PLC   3,943,815 4,533,224
      27,292,868
TOTAL COMMON STOCKS (Cost $708,210,867)     716,531,571
PREFERRED STOCKS
3.8%    
Brazil
3.8%    
Azul S.A. - ADR(a)   888,152 5,426,609
Banco Bradesco S.A. - ADR(a)   2,595,994 7,476,463
Itau Unibanco Holding S.A. - ADR(a)   3,298,362 15,535,285
      28,438,357
TOTAL PREFERRED STOCKS (Cost $40,953,774)     28,438,357
TOTAL INVESTMENTS

(Cost $749,164,641)
98.4%   744,969,928
NET OTHER ASSETS (LIABILITIES)
1.6%   12,066,748
NET ASSETS
100.0%   $757,036,676
    
(a)Non-income producing security.
**Security valued pursuant to Level 3 unobservable inputs and is restricted for trading.
    
7
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
Abbreviations:
ADR – American Depositary Receipt
GDR – Global Depositary Receipt
REG – Registered
At December 31, 2022 the industry sectors for the JOHCM Emerging Markets Opportunities Fund were:
Sector Allocation % of Net Assets
Communication Services
7.9%
Consumer Discretionary
11.9
Consumer Staples
11.1
Energy
4.2
Financials
27.3
Industrials
5.1
Information Technology
10.5
Materials
11.9
Real Estate
5.7
Utilities
2.8
Total
98.4%
8
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS DISCOVERY FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
COMMON STOCKS
89.6%    
Austria
0.7%    
AT&S Austria Technologie & Systemtechnik A.G.   7,809 $267,844
Brazil
7.5%    
Arcos Dorados Holdings, Inc. - Class A   63,042 527,031
Cia Brasileira de Aluminio   166,600 359,225
Cyrela Brazil Realty S.A. Empreendimentos e Participacoes   49,300 122,530
Locaweb Servicos de Internet S.A.(a)(b)   193,500 257,541
Lojas Renner S.A.(b)   42,400 164,336
Oncoclinicas do Brasil Servicos Medicos S.A.(b)   203,400 231,279
Pet Center Comercio e Participacoes S.A.   196,500 231,831
Petro Rio S.A.(b)   13,900 97,908
Santos Brasil Participacoes S.A.   207,100 306,296
Sinqia S.A.(b)   35,600 101,234
StoneCo. Ltd. - Class A(b)   18,928 178,680
TOTVS S.A.(b)   35,100 183,017
Tres Tentos Agroindustrial S.A.   51,500 90,983
YDUQS Participacoes S.A.   45,000 86,211
      2,938,102
Canada
1.8%    
Capstone Copper Corp.(b)   102,943 375,582
Dundee Precious Metals, Inc.   19,977 96,049
Parex Resources, Inc.   14,941 222,350
      693,981
Chile
2.8%    
Cia Cervecerias Unidas S.A. - ADR   35,518 465,996
Enel Chile S.A.   9,381,489 431,522
Itau CorpBanca Chile S.A.   93,919,387 207,157
      1,104,675
China
11.1%    
Airtac International Group   12,000 362,298
BOE Varitronix Ltd.   189,000 357,305
CIMC Enric Holdings Ltd.   110,000 110,722
Greentown Service Group Co. Ltd.   415,933 274,222
Health & Happiness H&H International Holdings Ltd.   163,500 347,103
New Horizon Health Ltd.(a)(b)   72,000 161,630
Proya Cosmetics Co. Ltd. - Class A   14,900 360,216
Shanghai Huace Navigation Technology Ltd. - Class A   71,180 285,717
Shangri-La Asia Ltd.(b)   452,000 368,802
Tongcheng Travel Holdings Ltd.(b)   178,800 427,074
Uni-President China Holdings Ltd.   626,000 624,837
Xinyi Glass Holdings Ltd.   162,000 299,307
Xtep International Holdings Ltd.   249,500 276,127
ZhongAn Online P&C Insurance Co. Ltd. - Class H(a)(b)   40,400 110,028
      4,365,388
9
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS DISCOVERY FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
Germany
2.1%    
AIXTRON S.E.   14,196 $408,465
Krones A.G.   3,697 413,115
      821,580
Greece
1.4%    
Mytilineos S.A.   24,834 539,535
Hong Kong
3.8%    
China Overseas Grand Oceans Group Ltd.   851,000 366,473
Man Wah Holdings Ltd.   362,400 358,601
Melco International Development Ltd.(b)   338,000 365,115
PAX Global Technology Ltd.   460,000 395,947
      1,486,136
Hungary
0.7%    
Richter Gedeon Nyrt   13,247 294,157
India
13.3%    
Aster DM Healthcare Ltd.(a)(b)   117,813 328,685
Bata India Ltd.   5,886 117,175
CreditAccess Grameen Ltd.(b)   22,996 254,131
Genus Power Infrastructures Ltd.   283,210 288,227
Ipca Laboratories Ltd.   19,716 200,728
KPIT Technologies Ltd.   79,874 678,396
Lemon Tree Hotels Ltd.(a)(b)   238,034 246,162
Narayana Hrudayalaya Ltd.   59,525 547,070
Phoenix Mills (The) Ltd.   31,196 535,773
PNC Infratech Ltd.   82,676 287,528
PVR Ltd.(b)   22,752 472,522
Shriram Transport Finance Co. Ltd.   19,058 316,368
Varun Beverages Ltd.   58,805 938,456
      5,211,221
Indonesia
3.0%    
Kalbe Farma Tbk PT   2,854,600 383,220
Merdeka Copper Gold Tbk PT(b)   1,276,300 337,190
Vale Indonesia Tbk PT(b)   959,800 436,604
      1,157,014
Jersey
1.5%    
WNS Holdings Ltd. - ADR(b)   7,412 592,886
Mexico
1.6%    
Banco del Bajio S.A.(a)   25,500 80,544
Corp. Inmobiliaria Vesta S.A.B. de C.V.   151,800 362,313
Genomma Lab Internacional S.A.B. de C.V. - Series B   222,700 193,598
      636,455
Netherlands
0.9%    
AMG Advanced Metallurgical Group N.V.   7,481 276,513
SBM Offshore N.V.   4,644 73,063
      349,576
10
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS DISCOVERY FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
New Zealand
1.0%    
a2 Milk (The) Co. Ltd.(b)   83,794 $391,217
Philippines
1.8%    
Metropolitan Bank & Trust Co.   467,230 453,703
Wilcon Depot, Inc.   458,900 243,275
      696,978
Poland
2.4%    
Bank Polska Kasa Opieki S.A.   25,771 512,676
KGHM Polska Miedz S.A.   8,561 249,019
Polski Koncern Naftowy ORLEN S.A.   12,376 181,820
      943,515
Russia
0.0%    
Ozon Holdings PLC - ADR(b)**   7,516 —
Saudi Arabia
1.3%    
Etihad Etisalat Co.   33,227 307,143
National Medical Care Co.   10,911 214,025
      521,168
Singapore
1.0%    
Yangzijiang Shipbuilding Holdings Ltd.   393,300 399,516
South Africa
1.0%    
AngloGold Ashanti Ltd. - ADR   20,396 396,090
South Korea
8.4%    
BH Co. Ltd.   9,648 171,878
Cheil Worldwide, Inc.   19,797 361,596
CJ CheilJedang Corp.   740 222,600
Dentium Co. Ltd.   3,359 266,464
Ecopro BM Co. Ltd.   3,880 283,842
Han Kuk Carbon Co. Ltd.   34,984 305,617
Hansol Chemical Co. Ltd.   1,356 199,711
Hyundai Mipo Dockyard Co. Ltd.   6,704 448,901
Meritz Fire & Marine Insurance Co. Ltd.   5,028 199,066
Park Systems Corp.   2,987 270,657
PSK, Inc.(b)   12,065 148,573
SL Corp.   8,253 150,943
Youngone Corp.   7,028 262,307
      3,292,155
Taiwan
14.3%    
Alchip Technologies Ltd.   20,993 533,228
Arcadyan Technology Corp.   113,000 350,814
ASPEED Technology, Inc.   6,750 368,474
Bafang Yunji International Co. Ltd.   28,000 206,290
Chailease Holding Co. Ltd.   35,172 247,793
E Ink Holdings, Inc.   106,000 555,092
Elite Material Co. Ltd.   59,000 326,704
Fulgent Sun International Holding Co. Ltd.   78,000 384,486
11
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS DISCOVERY FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
Global Unichip Corp.   17,000 $351,518
Hu Lane Associate, Inc.   93,000 435,677
Ingentec Corp.   50,460 233,348
Kaori Heat Treatment Co Ltd.   79,000 481,723
momo.com, Inc.   15,000 312,149
Sino-American Silicon Products, Inc.   30,000 135,747
Voltronic Power Technology Corp.   13,450 674,810
      5,597,853
Thailand
4.7%    
Central Plaza Hotel PCL - REG(b)   278,500 404,060
Fabrinet(b)   1,413 181,175
JMT Network Services PCL - REG   165,600 329,909
Land & Houses PCL - REG   1,449,700 414,380
Major Cineplex Group PCL   465,200 244,426
TOA Paint Thailand PCL - REG   267,600 260,762
      1,834,712
Turkey
1.5%    
Logo Yazilim Sanayi Ve Ticaret A.S.   69,090 258,558
Turkiye Petrol Rafinerileri A.S.(b)   11,162 316,338
      574,896
TOTAL COMMON STOCKS (Cost $34,528,023)     35,106,650
EXCHANGE TRADED FUNDS
0.9%    
iShares MSCI India Small-Cap ETF(b)   6,811 352,537
TOTAL EXCHANGE TRADED FUNDS (Cost $369,564)     352,537
EQUITY-LINKED SECURITIES
5.1%    
India
5.1%    
Cochin Shipyard Ltd., Issued by CLSA Global Markets Pte. Ltd., Maturity Date 4/16/24(b)   34,648 223,578
Federal Bank Ltd., Issued by CLSA Global Markets Pte. Ltd., Maturity Date 10/25/27(b)   249,951 419,052
Phoenix Mills (The) Ltd., Issued by CLSA Global Markets Pte. Ltd., Maturity Date 11/15/23(b)   3,974 68,251
Piesat Information Technology Co. Ltd., Issued by CLSA Global Markets Pte. Ltd., Maturity Date 10/25/27(b)   25,761 316,396
PNC Infratech Ltd., Issued by CLSA Global Markets Pte. Ltd., Maturity Date 12/15/27(b)   28,460 98,977
Shriram Transport Finance Co. Ltd., Issued by CLSA Global Markets Pte. Ltd., Maturity Date 6/30/24(b)   6,310 104,748
VA Tech Wabag Ltd., Issued by CLSA Global Markets Pte. Ltd., Maturity Date 7/30/26(b)   31,588 125,000
Varun Beverages Ltd., Issued by CLSA Global Markets Pte. Ltd., Maturity Date 12/31/26(b)   11,107 177,254
12
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS DISCOVERY FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
Voltas Ltd., Issued by CLSA Global Markets Pte. Ltd., Maturity Date 6/30/25(a)(b)   26,656 $257,206
Yes Bank Ltd., Issued by CLSA Global Markets Pte. Ltd., Maturity Date 12/13/27(b)   732,415 182,212
      1,972,674
TOTAL EQUITY-LINKED SECURITIES (Cost $1,963,853)     1,972,674
PREFERRED STOCKS
0.6%    
Brazil
0.6%    
Gerdau S.A. - ADR, 23.87%(c)   42,561 235,788
TOTAL PREFERRED STOCKS (Cost $192,279)     235,788
TOTAL INVESTMENTS

(Cost $37,053,719)
96.2%   37,667,649
NET OTHER ASSETS (LIABILITIES)
3.8%   1,499,094
NET ASSETS
100.0%   $39,166,743
    
(a)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers.
(b)Non-income producing security.
(c)Current yield is disclosed. Dividends are calculated based on a percentage of issuer's net income.
**Security valued pursuant to Level 3 unobservable inputs and is restricted for trading.
    
Abbreviations:
ADR – American Depositary Receipt
REG – Registered
At December 31, 2022 the industry sectors for the JOHCM Emerging Markets Discovery Fund were:
Sector Allocation % of Net Assets
Communication Services
3.5%
Consumer Discretionary
14.5
Consumer Staples
9.3
Energy
2.3
Financials
9.6
Health Care
7.2
Industrials
13.3
Information Technology
20.3
Materials
9.6
Real Estate
5.2
Utilities
1.4
Total
96.2%
13
JOHCM FUNDS TRUST
JOHCM GLOBAL INCOME BUILDER FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
COMMON STOCKS
60.6%    
Asset Management
1.0%    
GQG Partners, Inc. - CDI   141,850 $135,330
Julius Baer Group Ltd.   5,643 328,429
      463,759
Banking
3.4%    
Citizens Financial Group, Inc.   7,558 297,558
FinecoBank Banca Fineco S.p.A.   22,691 376,810
JPMorgan Chase & Co.   2,484 333,104
Truist Financial Corp.   14,951 643,342
      1,650,814
Beverages
1.4%    
Coca-Cola Europacific Partners PLC   4,982 275,604
Coca-Cola Femsa S.A.B. de C.V. - ADR   5,808 394,247
      669,851
Biotechnology & Pharmaceuticals
5.4%    
AstraZeneca PLC   4,725 639,384
Novartis A.G. - REG   9,169 829,771
Pfizer, Inc.   5,531 283,409
Roche Holding A.G. - ADR   8,876 347,495
Sanofi   5,344 515,304
      2,615,363
Cable & Satellite
0.4%    
NOS SGPS S.A.   44,296 179,206
Chemicals
4.0%    
Air Products and Chemicals, Inc.   1,776 547,470
International Flavors & Fragrances, Inc.   6,447 675,903
Linde PLC   2,284 744,995
      1,968,368
Construction Materials
1.7%    
Cie de Saint-Gobain   5,448 266,521
CRH PLC   13,575 540,214
      806,735
Electric Utilities
1.5%    
Terna - Rete Elettrica Nazionale   99,688 736,216
Electrical Equipment
0.5%    
ABB Ltd. - REG   8,101 246,898
Food
2.4%    
Danone S.A.   11,668 614,971
Nestle S.A. - REG   4,731 546,475
      1,161,446
Health Care Facilities & Services
1.3%    
Elevance Health, Inc.   1,221 626,336
Home Construction
1.2%    
Sekisui House Ltd.   32,000 567,330
14
JOHCM FUNDS TRUST
JOHCM GLOBAL INCOME BUILDER FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
Household Products
1.5%    
Unilever PLC   14,557 $734,952
Institutional Financial Services
0.8%    
CME Group, Inc.   2,288 384,750
Insurance
1.1%    
Allianz S.E. - REG   2,505 534,962
Internet Media & Services
2.8%    
Alphabet, Inc. - Class C(a)   6,878 610,285
Naspers Ltd. - Class N   4,634 774,368
      1,384,653
Medical Equipment & Devices
1.5%    
Thermo Fisher Scientific, Inc.   1,296 713,694
Metals & Mining
0.5%    
Anglo American PLC   6,447 252,464
Oil & Gas Producers
7.1%    
Cheniere Energy, Inc.   1,396 209,344
Enbridge, Inc.   9,222 360,434
Equitrans Midstream Corp.   63,254 423,802
Kinder Morgan, Inc.   34,846 630,016
Kinetik Holdings, Inc.   13,563 448,664
New Fortress Energy, Inc.   3,369 142,913
Pembina Pipeline Corp.   15,324 520,156
Williams Cos. (The), Inc.   22,595 743,375
      3,478,704
Real Estate Investment Trusts
7.2%    
Crown Castle, Inc.   5,380 729,743
Digital Realty Trust, Inc.   2,328 233,429
Douglas Emmett, Inc.   9,656 151,406
Frasers Logistics & Commercial Trust   649,449 562,316
Mapletree Industrial Trust   341,580 566,027
Suntec Real Estate Investment Trust   514,300 529,760
VICI Properties, Inc.   22,630 733,212
      3,505,893
Real Estate Owners & Developers
0.6%    
Hang Lung Properties Ltd.   159,343 310,402
Hongkong Land Holdings Ltd.   79 363
      310,765
Retail - Consumer Staples
1.4%    
Dollar Tree, Inc.(a)   4,685 662,646
Semiconductors
4.4%    
Advanced Micro Devices, Inc.(a)   5,358 347,038
ASML Holding N.V.   427 232,823
Infineon Technologies A.G.   20,008 608,082
NVIDIA Corp.   1,572 229,732
NXP Semiconductors N.V.   1,509 238,467
15
JOHCM FUNDS TRUST
JOHCM GLOBAL INCOME BUILDER FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
ON Semiconductor Corp.(a)   3,623 $225,966
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR   3,265 243,210
      2,125,318
Software
3.6%    
Bill.com Holdings, Inc.(a)   1,975 215,196
Microsoft Corp.   3,331 798,840
Oracle Corp.   9,048 739,584
      1,753,620
Technology Services
1.5%    
Visa, Inc. - Class A   3,552 737,964
Telecommunications
2.4%    
AT&T, Inc.   33,738 621,117
BT Group PLC   266,556 359,924
Vodafone Group PLC   196,594 199,094
      1,180,135
TOTAL COMMON STOCKS (Cost $27,147,405)     29,452,842
    
  Percentage
of Net
Assets 		Principal Amount Value
CONVERTIBLE BONDS
5.7%    
Cable & Satellite
3.2%    
Liberty Broadband Corp.,      
1.25%, 09/30/50(b)   $500,000 482,500
2.75%, 09/30/50(b)   300,000 292,186
Liberty Latin America Ltd.
2.00%, 07/15/24 		  895,000 794,312
      1,568,998
Internet Media & Services
1.6%    
Spotify U.S.A., Inc.
0.00%, 03/15/26 		  1,000,000 805,000
Leisure Facilities & Services
0.4%    
Carnival Corp.
5.75%, 12/01/27(b) 		  200,000 178,600
Software
0.5%    
1Life Healthcare, Inc.
3.00%, 06/15/25 		  250,000 241,000
TOTAL CONVERTIBLE BONDS (Cost $3,025,305)     2,793,598
CORPORATE BONDS
17.4%    
Advertising & Marketing
0.9%    
Advantage Sales & Marketing, Inc.
6.50%, 11/15/28(b) 		  600,000 457,410
Apparel & Textile Products
0.7%    
Kontoor Brands, Inc.
4.13%, 11/15/29(b) 		  411,000 335,421
16
JOHCM FUNDS TRUST
JOHCM GLOBAL INCOME BUILDER FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Principal Amount Value
Asset Management
1.1%    
Charles Schwab Corp. (The)
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 4.97%)
5.38%, 06/01/25(c) 		  $550,000 $537,900
Cable & Satellite
0.5%    
CCO Holdings LLC/CCO Holdings Capital Corp.
5.38%, 06/01/29(b) 		  250,000 225,136
Commercial Support Services
0.3%    
TriNet Group, Inc.
3.50%, 03/01/29(b) 		  200,000 164,440
Electrical Equipment
1.8%    
WESCO Distribution, Inc.
7.25%, 06/15/28(b) 		  850,000 861,028
Health Care Facilities & Services
0.8%    
Elevance Health, Inc.
2.88%, 09/15/29 		  300,000 264,277
IQVIA, Inc.
5.00%, 10/15/26(b) 		  150,000 143,202
      407,479
Internet Media & Services
3.8%    
Netflix, Inc.
6.38%, 05/15/29 		  505,000 519,790
TripAdvisor, Inc.
7.00%, 07/15/25(b) 		  880,000 869,471
Uber Technologies, Inc.
4.50%, 08/15/29(b) 		  550,000 479,190
      1,868,451
Real Estate Investment Trusts
4.6%    
American Tower Corp.
3.65%, 03/15/27 		  400,000 374,147
Digital Realty Trust L.P.,      
3.70%, 08/15/27   300,000 278,919
3.60%, 07/01/29   850,000 761,090
SBA Communications Corp.
3.13%, 02/01/29 		  175,000 145,511
VICI Properties L.P./VICI Note Co., Inc.
5.75%, 02/01/27(b) 		  700,000 682,319
      2,241,986
Semiconductors
0.9%    
Broadcom, Inc.
3.14%, 11/15/35(b) 		  280,000 206,822
Micron Technology, Inc.
6.75%, 11/01/29 		  200,000 203,851
      410,673
Software
0.6%    
SS&C Technologies, Inc.
5.50%, 09/30/27(b) 		  325,000 305,023
17
JOHCM FUNDS TRUST
JOHCM GLOBAL INCOME BUILDER FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Principal Amount Value
Technology Services
1.4%    
MSCI, Inc.
4.00%, 11/15/29(b) 		  $770,000 $670,697
TOTAL CORPORATE BONDS (Cost $9,328,352)     8,485,644
    
  Percentage
of Net
Assets 		Shares Value
EXCHANGE TRADED FUNDS
3.2%    
iShares Gold Trust(a)   22,432 775,923
SPDR Gold Shares(a)   4,568 774,916
TOTAL EXCHANGE TRADED FUNDS (Cost $1,214,758)     1,550,839
    
  Percentage
of Net
Assets 		Principal Amount Value
FOREIGN ISSUER BONDS
7.9%    
Beverages
1.9%    
JDE Peet's N.V.
0.80%, 09/24/24(b) 		  1,000,000 913,772
Semiconductors
1.2%    
NXP B.V./NXP Funding LLC/NXP U.S.A., Inc.
5.00%, 01/15/33 		  600,000 568,259
Sovereign Government
2.1%    
French Republic Government Bond OAT
2.37%, 02/25/24 		  1,000,000 1,037,024
Telecommunications
2.7%    
Bell Telephone Co. of Canada or Bell Canada (The)
4.46%, 04/01/48 		  700,000 600,095
Rogers Communications, Inc.
3.63%, 12/15/25 		  750,000 719,151
      1,319,246
TOTAL FOREIGN ISSUER BONDS (Cost $3,893,065)     3,838,301
    
  Percentage
of Net
Assets 		Shares Value
PREFERRED STOCKS
1.6%    
Beverages
0.8%    
Embotelladora Andina S.A. - Class B 4.62%(d)   171,545 421,004
Technology Hardware
0.8%    
Samsung Electronics Co. Ltd. 2.86%(d)   9,326 373,724
PREFERRED STOCKS (Cost $724,616)     794,728
SHORT-TERM INVESTMENTS
5.6%    
Northern Institutional Treasury Portfolio (Premier Class), 3.75%(e)   2,705,503 2,705,503
TOTAL SHORT-TERM INVESTMENTS (Cost $2,705,503)     2,705,503
TOTAL INVESTMENTS

(Cost $48,039,004)
102.0%   49,621,455
NET OTHER ASSETS (LIABILITIES)
(2.0%)   (990,200)
NET ASSETS
100.0%   $48,631,255
    
18
JOHCM FUNDS TRUST
JOHCM GLOBAL INCOME BUILDER FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
(a)Non-income producing security.
(b)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers.
(c)Floating rate security. The rate presented is the rate in effect at December 31, 2022, and the related index and spread are shown parenthetically for each security.
(d)Current yield is disclosed. Dividends are calculated based on a percentage of the issuer’s net income.
(e)7-day current yield as of December 31, 2022 is disclosed.
    
Abbreviations:
ADR – American Depositary Receipt
CDI – CREST Depository Interest
REG – Registered
At December 31, 2022, the JOHCM Global Income Builder Fund’s investments were concentrated as follows:
Country Allocation Percentage
of Net Assets
United States
59.7%
United Kingdom
5.1
France
5.0
Switzerland
4.7
Canada
4.5
Singapore
3.4
Netherlands
2.8
Ireland
2.6
Germany
2.3
Italy
2.3
Puerto Rico
1.6
South Africa
1.6
China
1.2
Japan
1.2
Chile
0.9
Mexico
0.8
South Korea
0.8
Hong Kong
0.6
Taiwan
0.5
Portugal
0.4
Total
102.0%
19
JOHCM FUNDS TRUST
JOHCM GLOBAL SELECT FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
COMMON STOCKS
95.0%    
Australia
2.6%    
Fortescue Metals Group Ltd.   408,392 $5,708,158
Brazil
4.4%    
B3 S.A. - Brasil Bolsa Balcao   2,192,677 5,478,673
Banco Bradesco S.A. - ADR(a)   1,504,226 4,332,171
      9,810,844
Denmark
4.9%    
Novo Nordisk A/S - Class B   42,290 5,743,640
Orsted A/S(b)   56,477 5,105,840
      10,849,480
Indonesia
2.1%    
Bank Mandiri Persero Tbk PT   7,476,296 4,767,594
Ireland
4.7%    
Accenture PLC - Class A   18,674 4,982,970
Linde PLC   17,139 5,590,399
      10,573,369
Japan
4.4%    
Keyence Corp.   12,358 4,797,929
Sony Group Corp.   66,400 5,061,116
      9,859,045
Jersey
2.2%    
Aptiv PLC(a)   52,176 4,859,151
Mexico
2.1%    
Wal-Mart de Mexico S.A.B. de C.V.   1,314,547 4,627,038
Netherlands
2.5%    
CNH Industrial N.V.   347,510 5,581,010
Sweden
2.4%    
Boliden AB   144,769 5,437,842
United Kingdom
1.7%    
Unilever PLC   76,477 3,861,159
United States
61.0%    
AGCO Corp.   40,101 5,561,608
Agilent Technologies, Inc.   34,526 5,166,816
Alphabet, Inc. - Class A(a)   56,714 5,003,876
ANSYS, Inc.(a)   21,889 5,288,164
Chart Industries, Inc.(a)   27,139 3,127,227
Danaher Corp.   19,125 5,076,157
Elevance Health, Inc.   9,727 4,989,659
EPAM Systems, Inc.(a)   15,355 5,032,448
Estee Lauder Cos. (The), Inc. - Class A   20,567 5,102,878
Globant S.A.(a)   28,240 4,748,838
Henry Schein, Inc.(a)   67,577 5,397,375
Intercontinental Exchange, Inc.   51,471 5,280,410
Intuit, Inc.   12,647 4,922,465
20
JOHCM FUNDS TRUST
JOHCM GLOBAL SELECT FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
Keysight Technologies, Inc.(a)   29,378 $5,025,694
Microsoft Corp.   21,162 5,075,071
Morningstar, Inc.   23,156 5,015,358
Nasdaq, Inc.   86,206 5,288,738
PerkinElmer, Inc.   34,848 4,886,387
Regeneron Pharmaceuticals, Inc.(a)   7,038 5,077,847
Repligen Corp.(a)   27,840 4,713,590
S&P Global, Inc.   14,907 4,992,951
Tenaris S.A. - ADR   158,647 5,578,029
Thermo Fisher Scientific, Inc.   9,398 5,175,385
TPG, Inc.   168,668 4,694,030
United Rentals, Inc.(a)   15,655 5,564,100
UnitedHealth Group, Inc.   9,584 5,081,245
Vertex Pharmaceuticals, Inc.(a)   17,602 5,083,106
      135,949,452
TOTAL COMMON STOCKS (Cost $187,151,099)     211,884,142
TOTAL INVESTMENTS

(Cost $187,151,099)
95.0%   211,884,142
NET OTHER ASSETS (LIABILITIES)
5.0%   11,046,663
NET ASSETS
100.0%   $222,930,805
    
(a)Non-income producing security.
(b)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers.
    
Abbreviations:
ADR – American Depositary Receipt
At December 31, 2022 the industry sectors for the JOHCM Global Select Fund were:
Sector Allocation % of Net Assets
Communication Services
2.2%
Consumer Discretionary
4.4
Consumer Staples
6.1
Energy
2.5
Financials
17.9
Health Care
25.3
Industrials
8.9
Information Technology
17.9
Materials
7.5
Utilities
2.3
Total
95.0%
21
JOHCM FUNDS TRUST
JOHCM INTERNATIONAL OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
COMMON STOCKS
96.9%    
Canada
5.7%    
Alimentation Couche-Tard, Inc.   1,261 $55,413
Cameco Corp.   2,056 46,602
      102,015
Finland
3.8%    
Kone OYJ - Class B   526 27,232
Wartsila OYJ Abp   4,966 41,873
      69,105
France
16.9%    
Publicis Groupe S.A.   989 63,180
Sanofi   712 68,656
Schneider Electric S.E.   341 47,888
Thales S.A.   526 67,206
TotalEnergies S.E.   918 57,626
      304,556
Germany
12.8%    
Continental A.G.   832 49,599
Deutsche Boerse A.G.   354 60,955
Infineon Technologies A.G.   893 27,140
Merck KGaA   284 54,795
Vitesco Technologies Group A.G.(a)   678 39,202
      231,691
Ireland
4.4%    
CRH PLC   1,997 79,421
Italy
1.5%    
Enel S.p.A.   4,956 26,654
Japan
9.4%    
Daifuku Co. Ltd.   936 43,631
KDDI Corp.   906 27,476
Nippon Gas Co. Ltd.   2,345 36,698
Nitori Holdings Co. Ltd.   480 62,718
      170,523
Netherlands
5.5%    
Heineken Holding N.V.   818 63,175
SBM Offshore N.V.   2,304 36,248
      99,423
Portugal
3.5%    
Galp Energia SGPS S.A.   4,696 63,352
South Korea
2.2%    
LG H&H Co. Ltd.   68 39,139
Spain
3.6%    
Bankinter S.A.   4,033 27,019
Iberdrola S.A.   3,202 37,379
      64,398
 .
22
JOHCM FUNDS TRUST
JOHCM INTERNATIONAL OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
Sweden
5.3%    
Sandvik AB   1,991 $35,980
Svenska Handelsbanken AB - Class A   5,908 59,482
      95,462
Switzerland
2.2%    
Roche Holding A.G.   126 39,594
United Kingdom
17.4%    
B&M European Value Retail S.A.   14,842 73,673
Beazley PLC   4,613 37,727
Compass Group PLC   2,699 62,325
Informa PLC   5,569 41,543
Rio Tinto PLC   437 30,758
Shell PLC   2,446 68,955
      314,981
United States
2.7%    
Philip Morris International, Inc.   481 48,682
TOTAL COMMON STOCKS (Cost $1,689,198)     1,748,996
TOTAL INVESTMENTS

(Cost $1,689,198)
96.9%   1,748,996
NET OTHER ASSETS (LIABILITIES)
3.1%   56,372
NET ASSETS
100.0%   $1,805,368
    
(a)Non-income producing security.
At December 31, 2022 the industry sectors for the JOHCM International Opportunities Fund were:
Sector Allocation % of Net Assets
Communication Services
7.3%
Consumer Discretionary
15.9
Consumer Staples
11.5
Energy
15.1
Financials
10.3
Health Care
9.0
Industrials
14.6
Information Technology
1.5
Materials
6.1
Utilities
5.6
Total
96.9%
 .
23
JOHCM FUNDS TRUST
JOHCM INTERNATIONAL SELECT FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
COMMON STOCKS
95.8%    
Australia
2.3%    
Fortescue Metals Group Ltd.   9,452,181 $132,114,604
Brazil
2.4%    
B3 S.A. - Brasil Bolsa Balcao   54,992,741 137,406,137
Denmark
4.5%    
Novo Nordisk A/S - Class B   1,040,302 141,289,201
Orsted A/S(a)   1,323,048 119,611,007
      260,900,208
France
8.9%    
Air Liquide S.A.   886,678 125,851,038
L'Oreal S.A.   372,141 133,262,865
Sanofi   1,352,841 130,449,848
Schneider Electric S.E.   858,708 120,592,363
      510,156,114
Germany
4.3%    
Deutsche Boerse A.G.   681,400 117,330,403
Merck KGaA   667,093 128,709,192
      246,039,595
Indonesia
2.1%    
Bank Rakyat Indonesia Persero Tbk PT   380,237,868 120,554,516
Ireland
6.3%    
Accenture PLC - Class A   438,444 116,994,397
ICON PLC(b)   604,009 117,328,748
Linde PLC   392,380 127,900,690
      362,223,835
Japan
14.8%    
Advantest Corp.   1,883,547 120,638,534
FANUC Corp.   768,726 115,037,218
Japan Exchange Group, Inc.   8,118,414 117,009,025
Keyence Corp.   322,413 125,175,165
Ono Pharmaceutical Co. Ltd.   4,749,916 111,022,574
ORIX Corp.   8,124,959 130,053,408
Sony Group Corp.   1,674,066 127,600,024
      846,535,948
Jersey
4.6%    
Aptiv PLC(b)   1,347,234 125,467,902
Ferguson PLC   1,097,074 137,730,937
      263,198,839
Netherlands
8.7%    
CNH Industrial N.V.   8,556,536 137,263,969
Koninklijke Ahold Delhaize N.V.   4,188,799 120,433,364
QIAGEN N.V.(b)   2,538,044 126,572,254
STMicroelectronics N.V.   3,182,779 113,103,441
      497,373,028
 .
24
JOHCM FUNDS TRUST
JOHCM INTERNATIONAL SELECT FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
Sweden
1.8%    
EQT AB   4,919,119 $104,508,060
Switzerland
10.8%    
Alcon, Inc.   2,016,426 138,365,069
Cie Financiere Richemont S.A. - Class A - REG   1,002,218 129,947,548
Lonza Group A.G. - REG   243,525 119,540,444
Partners Group Holding A.G.   123,562 109,412,151
Roche Holding A.G.   381,168 119,777,301
      617,042,513
United Kingdom
20.0%    
Anglo American PLC   3,054,704 119,621,877
Ashtead Group PLC   2,087,969 118,606,654
AstraZeneca PLC   912,806 123,520,354
B&M European Value Retail S.A.   24,708,128 122,646,207
Compass Group PLC   5,848,009 135,042,429
GSK PLC   7,187,744 124,227,478
Haleon PLC(b)   9,494,483 37,566,027
London Stock Exchange Group PLC   1,392,324 119,630,156
Rio Tinto PLC   1,903,348 133,965,336
Unilever PLC   2,273,287 114,773,362
      1,149,599,880
United States
4.3%    
Globant S.A.(b)   651,977 109,636,452
Tenaris S.A.   7,859,417 137,836,215
      247,472,667
TOTAL COMMON STOCKS (Cost $5,360,934,438)     5,495,125,944
PREFERRED STOCKS
4.4%    
Brazil
2.2%    
Itau Unibanco Holding S.A. - ADR(b)   26,926,106 126,821,959
Germany
2.2%    
Sartorius A.G., 0.36%(c)   314,466 124,175,088
TOTAL PREFERRED STOCKS (Cost $272,352,427)     250,997,047
TOTAL INVESTMENTS

(Cost $5,633,286,865)
100.2%   5,746,122,991
NET OTHER ASSETS (LIABILITIES)
(0.2%)   (8,691,393)
NET ASSETS
100.0%   $5,737,431,598
    
(a)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers.
(b)Non-income producing security.
(c)Current yield is disclosed. Dividends are calculated based on a percentage of the issuer’s net income.
    
Abbreviations:
ADR – American Depositary Receipt
REG – Registered
 .
25
JOHCM FUNDS TRUST
JOHCM INTERNATIONAL SELECT FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
At December 31, 2022 the industry sectors for the JOHCM International Select Fund were:
Sector Allocation % of Net Assets
Consumer Discretionary
11.2%
Consumer Staples
7.1
Energy
2.4
Financials
18.9
Health Care
26.2
Industrials
11.0
Information Technology
10.2
Materials
11.1
Utilities
2.1
Total
100.2%
 .
26
JOHCM FUNDS TRUST
REGNAN GLOBAL EQUITY IMPACT SOLUTIONS
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
CLOSED-END FUNDS
1.4%    
Guernsey
1.4%    
Syncona Ltd.(a)   86,877 $190,257
TOTAL CLOSED-END FUNDS (Cost $211,977)     190,257
COMMON STOCKS
91.5%    
Austria
0.8%    
Lenzing A.G.   1,829 107,065
Belgium
1.4%    
Umicore S.A.   4,743 174,447
Brazil
6.3%    
Afya Ltd. - Class A(a)   34,536 539,453
YDUQS Participacoes S.A.   148,011 283,560
      823,013
Canada
4.3%    
ATS Corp.(a)   17,783 552,796
Denmark
9.2%    
Novo Nordisk A/S - Class B   4,964 674,188
Orsted A/S(b)   5,763 521,008
      1,195,196
France
6.6%    
Hoffmann Green Cement Technologies S.A.S.(a)   2,379 25,806
Sartorius Stedim Biotech   1,843 598,916
Valeo   13,127 234,551
      859,273
Germany
5.2%    
Carl Zeiss Meditec A.G. - Bearer   3,100 389,651
Duerr A.G.   8,510 285,108
      674,759
Indonesia
4.9%    
Bank Rakyat Indonesia Persero Tbk PT   1,997,111 633,185
Italy
1.0%    
Stevanato Group S.p.A.   7,392 132,834
Japan
3.6%    
Horiba Ltd.   10,791 467,820
Netherlands
9.6%    
Alfen Beheer B.V.(a)(b)   5,975 540,964
QIAGEN N.V.(a)   13,982 702,883
      1,243,847
Norway
1.9%    
TOMRA Systems ASA   14,652 247,124
Spain
2.3%    
Befesa S.A.(b)   6,288 303,327
Switzerland
4.1%    
Lonza Group A.G. - REG   1,091 535,545
 .
27
JOHCM FUNDS TRUST
REGNAN GLOBAL EQUITY IMPACT SOLUTIONS
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
United Kingdom
5.2%    
Abcam PLC(a)(c)   1,103 $17,163
Abcam PLC - ADR(a)   33,742 525,025
Autolus Therapeutics PLC - ADR(a)   70,554 134,053
Ilika PLC(a)   13,739 4,009
      680,250
United States
25.1%    
Agilent Technologies, Inc.   4,733 708,294
ANSYS, Inc.(a)   2,322 560,972
Ecolab, Inc.   1,994 290,247
Evoqua Water Technologies Corp.(a)   13,120 519,552
PTC, Inc.(a)   4,810 577,392
Xylem, Inc.   5,495 607,582
      3,264,039
TOTAL COMMON STOCKS (Cost $13,079,451)     11,894,520
TOTAL INVESTMENTS

(Cost $13,291,428)
92.9%   12,084,777
NET OTHER ASSETS (LIABILITIES)
7.1%   919,064
NET ASSETS
100.0%   $13,003,841
    
(a)Non-income producing security.
(b)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers.
(c)Security is temporarily restricted for trading due to the pending processing of a corporate action. Security valued pursuant to level 2 other significant observable inputs at December 31, 2022.
    
Abbreviations:
ADR – American Depositary Receipt
REG – Registered
At December 31, 2022 the industry sectors for the Regnan Global Equity Impact Solutions were:
Sector Allocation % of Net Assets
Consumer Discretionary
8.1%
Financials
6.3
Health Care
34.0
Industrials
23.5
Information Technology
12.4
Materials
4.6
Utilities
4.0
Total
92.9%
 .
28
JOHCM FUNDS TRUST
TSW EMERGING MARKETS FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
COMMON STOCKS
99.2%    
Brazil
5.4%    
Ambev S.A.(a)   31,000 $84,728
B3 S.A. - Brasil Bolsa Balcao   36,000 89,951
Banco BTG Pactual S.A.(a)   20,600 93,183
JBS S.A.   8,000 33,426
Localiza Rent a Car S.A.   4,012 39,838
      341,126
Canada
1.3%    
Fairfax India Holdings Corp.(a)(b)   6,700 82,276
China
18.2%    
Alibaba Group Holding Ltd.(a)   18,000 197,513
Hainan Meilan International Airport Co. Ltd.(a)   27,000 81,740
JD.com, Inc. - Class A   476 13,288
Kingboard Holdings Ltd.   23,000 72,936
Kingsoft Corp. Ltd.   18,000 59,653
NetEase, Inc.   16,000 232,064
Postal Savings Bank of China Co. Ltd. - REG(b)   115,000 71,164
Tencent Holdings Ltd.   7,500 318,003
Zijin Mining Group Co. Ltd. - Class H   71,000 95,423
      1,141,784
Czech Republic, The
1.9%    
Colt CZ Group S.E.   5,000 121,973
Egypt
1.2%    
Commercial International Bank Egypt S.A.E. - REG - GDR   62,742 74,939
Greece
4.2%    
Motor Oil Hellas Corinth Refineries S.A.   5,500 128,099
OPAP S.A.   9,500 134,404
      262,503
Guatemala
1.9%    
Millicom International Cellular S.A.(a)   9,350 118,091
Hong Kong
3.0%    
Lenovo Group Ltd.   141,000 114,844
Sinotruk Hong Kong Ltd.   52,000 72,237
      187,081
Hungary
2.6%    
Richter Gedeon Nyrt   7,500 166,541
India
7.0%    
ICICI Bank Ltd. - ADR   9,500 207,955
Reliance Industries Ltd. - GDR(b)   3,800 233,107
      441,062
Indonesia
0.9%    
Sarana Menara Nusantara Tbk PT   786,000 55,564
Kazakhstan
1.5%    
Kaspi.KZ JSC - REG - GDR   1,300 93,371
 .
29
JOHCM FUNDS TRUST
TSW EMERGING MARKETS FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
Malaysia
4.1%    
Hibiscus Petroleum Bhd.   400,000 $97,480
My EG Services Bhd   808,800 159,764
      257,244
Mexico
3.0%    
Becle S.A.B. de C.V.   48,000 104,367
Fibra Uno Administracion S.A. de C.V.   70,500 83,067
      187,434
Philippines
0.8%    
Wilcon Depot, Inc.   93,000 49,302
Poland
1.3%    
LiveChat Software S.A.   3,300 80,787
South Africa
5.2%    
Naspers Ltd. - Class N   1,400 233,948
Sibanye Stillwater Ltd.   34,000 90,142
      324,090
South Korea
13.2%    
AfreecaTV Co. Ltd.   900 50,857
Fila Holdings Corp.   4,500 118,718
Hugel, Inc.(a)   500 53,405
LG Chem Ltd.   300 143,259
NICE Information Service Co. Ltd.   6,900 66,900
Samsung Electronics Co. Ltd.   5,800 254,581
Shinhan Financial Group Co. Ltd.   5,000 139,197
      826,917
Taiwan
8.7%    
Chailease Holding Co. Ltd.   15,950 112,371
E Ink Holdings, Inc.   14,000 73,314
Taiwan Semiconductor Manufacturing Co. Ltd.   25,000 363,086
      548,771
Thailand
3.1%    
Bangkok Bank PCL   25,500 108,852
CP ALL PCL - REG   45,000 88,464
      197,316
Turkey
5.5%    
KOC Holding A.S.   24,700 110,813
Sok Marketler Ticaret A.S.(a)   71,700 107,108
Turkiye Sise ve Cam Fabrikalari A.S.   56,200 128,523
      346,444
United Kingdom
1.5%    
Georgia Capital PLC(a)   11,000 96,636
United States
3.7%    
MercadoLibre, Inc.(a)   100 84,624
 .
30
JOHCM FUNDS TRUST
TSW EMERGING MARKETS FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
Parade Technologies Ltd.   1,600 $40,092
Yum China Holdings, Inc.   2,000 109,300
      234,016
TOTAL COMMON STOCKS (Cost $7,009,687)     6,235,268
RIGHTS
0.0%    
Brazil
0.0%    
Localiza Rent a Car S.A.(a)   17 35
TOTAL RIGHTS (Cost $—)     35
TOTAL INVESTMENTS

(Cost $7,009,687)
99.2%   6,235,303
NET OTHER ASSETS (LIABILITIES)
0.8%   47,870
NET ASSETS
100.0%   $6,283,173
    
(a)Non-income producing security.
(b)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers.
    
Abbreviations:
ADR – American Depositary Receipt
GDR – Global Depositary Receipt
REG – Registered
At December 31, 2022 the industry sectors for the TSW Emerging Markets Fund were:
Sector Allocation % of Net Assets
Communication Services
13.3%
Consumer Discretionary
15.0
Consumer Staples
6.7
Energy
7.3
Financials
18.6
Health Care
3.5
Industrials
9.9
Information Technology
18.4
Materials
5.2
Real Estate
1.3
Total
99.2%
 .
31
JOHCM FUNDS TRUST
TSW HIGH YIELD BOND FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Principal Amount Value
CORPORATE BONDS
65.7%    
Aerospace & Defense
2.3%    
TransDigm, Inc.
8.00%, 12/15/25(a) 		  $250,000 $253,601
Asset Management
2.2%    
Icahn Enterprises L.P./Icahn Enterprises Finance Corp.
6.38%, 12/15/25 		  250,000 242,525
Automotive
1.9%    
Clarios Global L.P./Clarios U.S. Finance Co.
6.25%, 05/15/26(a) 		  224,000 218,877
Cable & Satellite
0.7%    
CCO Holdings LLC/CCO Holdings Capital Corp.
4.50%, 05/01/32(a) 		  100,000 79,665
Commercial Support Services
0.7%    
CoreCivic, Inc.
8.25%, 04/15/26 		  75,000 76,913
Construction Materials
1.1%    
Eco Material Technologies, Inc.
7.88%, 01/31/27(a) 		  125,000 118,963
Consumer Services
2.2%    
Rent-A-Center, Inc.
6.38%, 02/15/29(a) 		  300,000 242,684
Electrical Equipment
1.3%    
WESCO Distribution, Inc.
7.25%, 06/15/28(a) 		  150,000 151,946
Engineering & Construction
1.6%    
Installed Building Products, Inc.
5.75%, 02/01/28(a) 		  200,000 179,829
Food
1.3%    
Post Holdings, Inc.
5.63%, 01/15/28(a) 		  150,000 141,202
Forestry, Paper & Wood Products
2.2%    
Glatfelter Corp.
4.75%, 11/15/29(a) 		  100,000 60,137
Koppers, Inc.
6.00%, 02/15/25(a) 		  200,000 190,000
      250,137
Health Care Facilities & Services
1.6%    
Akumin, Inc.
7.00%, 11/01/25(a) 		  250,000 179,039
Home Construction
1.3%    
Forestar Group, Inc.
5.00%, 03/01/28(a) 		  175,000 150,144
 .
32
JOHCM FUNDS TRUST
TSW HIGH YIELD BOND FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Principal Amount Value
Institutional Financial Services
3.1%    
Jane Street Group/JSG Finance, Inc.
4.50%, 11/15/29(a) 		  $175,000 $150,500
StoneX Group, Inc.
8.63%, 06/15/25(a) 		  200,000 202,000
      352,500
Leisure Facilities & Services
8.7%    
Live Nation Entertainment, Inc.
4.75%, 10/15/27(a) 		  80,000 71,342
Marriott Ownership Resorts, Inc.
4.75%, 01/15/28 		  250,000 217,695
NCL Corp. Ltd.
5.88%, 03/15/26(a) 		  200,000 157,510
Raptor Acquisition Corp./Raptor Co-Issuer LLC
4.88%, 11/01/26(a) 		  100,000 88,840
Scientific Games International, Inc.
7.00%, 05/15/28(a) 		  150,000 143,086
Travel + Leisure Co.
6.60%, 10/01/25 		  175,000 172,436
VOC Escrow Ltd.
5.00%, 02/15/28(a) 		  150,000 129,015
      979,924
Leisure Products
2.0%    
Vista Outdoor, Inc.
4.50%, 03/15/29(a) 		  312,000 229,083
Metals & Mining
1.3%    
Arconic Corp.
6.00%, 05/15/25(a) 		  150,000 147,464
Oil & Gas Producers
4.3%    
Blue Racer Midstream LLC/Blue Racer Finance Corp.
7.63%, 12/15/25(a) 		  100,000 99,256
Colgate Energy Partners III LLC
5.88%, 07/01/29(a) 		  250,000 214,715
Sunoco L.P./Sunoco Finance Corp.
5.88%, 03/15/28 		  175,000 165,732
      479,703
Retail - Consumer Staples
0.9%    
Arko Corp.
5.13%, 11/15/29(a) 		  125,000 98,150
Retail - Discretionary
6.7%    
Bath & Body Works, Inc.
6.69%, 01/15/27 		  150,000 148,921
BlueLinx Holdings, Inc.
6.00%, 11/15/29(a) 		  150,000 124,500
Builders FirstSource, Inc.
5.00%, 03/01/30(a) 		  150,000 132,938
Dillard's, Inc.
7.75%, 07/15/26 		  175,000 181,965
 .
33
JOHCM FUNDS TRUST
TSW HIGH YIELD BOND FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Principal Amount Value
Patrick Industries, Inc.
4.75%, 05/01/29(a) 		  $100,000 $83,000
Sonic Automotive, Inc.
4.63%, 11/15/29(a) 		  100,000 80,071
      751,395
Specialty Finance
11.8%    
Burford Capital Global Finance LLC
6.25%, 04/15/28(a) 		  200,000 177,722
Credit Acceptance Corp.
6.63%, 03/15/26 		  100,000 94,764
Enova International, Inc.
8.50%, 09/15/25(a) 		  200,000 184,960
Fortress Transportation and Infrastructure Investors LLC
6.50%, 10/01/25(a) 		  114,000 107,183
Freedom Mortgage Corp.
6.63%, 01/15/27(a) 		  100,000 77,825
ILFC E-Capital Trust I
6.29%, 12/21/65(a)(b) 		  150,000 88,500
OneMain Finance Corp.
6.13%, 03/15/24 		  200,000 193,507
PRA Group, Inc.
5.00%, 10/01/29(a) 		  200,000 165,000
Rithm Capital Corp.
6.25%, 10/15/25(a) 		  200,000 179,460
World Acceptance Corp.
7.00%, 11/01/26(a) 		  100,000 56,000
      1,324,921
Steel
1.5%    
Cleveland-Cliffs, Inc.
5.88%, 06/01/27 		  175,000 167,182
Technology Hardware
1.0%    
Western Digital Corp.
4.75%, 02/15/26 		  125,000 117,713
Transportation & Logistics
1.0%    
United Airlines, Inc.
4.63%, 04/15/29(a) 		  126,000 109,708
Wholesale - Consumer Staples
3.0%    
Performance Food Group, Inc.
5.50%, 10/15/27(a) 		  150,000 141,475
United Natural Foods, Inc.
6.75%, 10/15/28(a) 		  200,000 192,165
      333,640
TOTAL CORPORATE BONDS (Cost $8,263,432)     7,376,908
FOREIGN ISSUER BONDS
11.8%    
Aerospace & Defense
1.7%    
Rolls-Royce PLC
5.75%, 10/15/27(a) 		  200,000 190,500
 .
34
JOHCM FUNDS TRUST
TSW HIGH YIELD BOND FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Principal Amount Value
Automotive
1.7%    
Adient Global Holdings Ltd.
4.88%, 08/15/26(a) 		  $200,000 $186,196
Biotechnology & Pharmaceuticals
1.1%    
Bausch Health Cos., Inc.
5.00%, 01/30/28(a) 		  250,000 119,999
Chemicals
2.0%    
Methanex Corp.
5.25%, 12/15/29 		  250,000 221,799
Metals & Mining
1.7%    
First Quantum Minerals Ltd.
6.88%, 10/15/27(a) 		  200,000 187,645
Telecommunications
2.0%    
Sable International Finance Ltd.
5.75%, 09/07/27(a) 		  250,000 230,625
Transportation & Logistics
1.6%    
Stena International S.A.
6.13%, 02/01/25(a) 		  200,000 186,000
TOTAL FOREIGN ISSUER BONDS (Cost $1,556,164)     1,322,764
    
  Percentage
of Net
Assets 		Shares Value
SHORT-TERM INVESTMENTS
17.6%    
Northern Institutional Treasury Portfolio (Premier Class), 3.75%(c)   1,970,339 1,970,339
TOTAL SHORT-TERM INVESTMENTS (Cost $1,970,339)     1,970,339
TOTAL INVESTMENTS

(Cost $11,789,935)
95.1%   10,670,011
NET OTHER ASSETS (LIABILITIES)
4.9%   549,773
NET ASSETS
100.0%   $11,219,784
    
(a)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers.
(b)The coupon rate equals 155 basis points plus the highest of the LIBOR 3 Month, the Constant Maturity Treasury 10 year rate, and the Constant Maturity Treasury 30 year rate, with a maximum of 12.95%.
(c)7-day current yield as of December 31, 2022 is disclosed.
At December 31, 2022 the TSW High Yield Bond Fund's investments were concentrated as follows:
Fixed Income Credit Ratings % of Net Assets
BAA
2.9%
BA
38.1
B
38.6
CAA
5.1
Cash equivalents
15.3
 .
35
JOHCM FUNDS TRUST
TSW LARGE CAP VALUE FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
COMMON STOCKS
92.6%    
Belgium
3.2%    
Anheuser-Busch InBev S.A./N.V. - ADR   18,000 $1,080,720
Germany
1.0%    
Bayer A.G. - ADR   27,000 347,220
Ireland
2.9%    
Willis Towers Watson PLC   4,000 978,320
Japan
3.2%    
Nintendo Co. Ltd. - ADR   105,000 1,094,100
United States
82.3%    
Activision Blizzard, Inc.   8,000 612,400
Alphabet, Inc. - Class C(a)   8,740 775,500
Applied Materials, Inc.   4,000 389,520
Arch Capital Group Ltd.(a)   12,000 753,360
Bank of America Corp.   20,000 662,400
Berkshire Hathaway, Inc. - Class B(a)   4,800 1,482,720
Charles Schwab (The) Corp.   12,100 1,007,446
Chesapeake Energy Corp.   6,000 566,220
Cigna Corp.   2,709 897,600
Cisco Systems, Inc.   14,000 666,960
CVS Health Corp.   9,200 857,348
Dell Technologies, Inc. - Class C   11,000 442,420
Dollar Tree, Inc.(a)   2,000 282,880
Dominion Energy, Inc.   11,000 674,520
Exelon Corp.   10,000 432,300
FedEx Corp.   3,000 519,600
FleetCor Technologies, Inc.(a)   3,000 551,040
Kinder Morgan, Inc.   61,600 1,113,728
Kraft Heinz (The) Co.   23,100 940,401
Liberty Broadband Corp. - Class C(a)   12,100 922,867
Liberty Media Corp. - Liberty SiriusXM - Class C(a)   19,225 752,274
Lockheed Martin Corp.   1,800 875,682
Lowe's Cos., Inc.   2,000 398,480
McKesson Corp.   2,100 787,752
Merck & Co., Inc.   8,000 887,600
Mosaic (The) Co.   7,000 307,090
Occidental Petroleum Corp.   8,000 503,920
Pfizer, Inc.   24,700 1,265,628
Post Holdings, Inc.(a)   12,500 1,128,250
Progressive (The) Corp.   6,600 856,086
Raytheon Technologies Corp.   11,000 1,110,120
Regeneron Pharmaceuticals, Inc.(a)   1,400 1,010,086
TJX Cos. (The), Inc.   5,000 398,000
Verizon Communications, Inc.   31,125 1,226,325
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36
JOHCM FUNDS TRUST
TSW LARGE CAP VALUE FUND
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
  Percentage
of Net
Assets 		Shares Value
Wells Fargo & Co.   19,000 $784,510
Williams Cos. (The), Inc.   38,325 1,260,893
      28,103,926
TOTAL COMMON STOCKS (Cost $25,635,390)     31,604,286
    
       
SHORT-TERM INVESTMENTS
7.6%    
Northern Institutional Treasury Portfolio (Premier Class), 3.75%(b)   2,598,188 2,598,188
TOTAL SHORT-TERM INVESTMENTS (Cost $2,598,188)     2,598,188
TOTAL INVESTMENTS

(Cost $28,233,578)
100.2%   34,202,474
NET OTHER ASSETS (LIABILITIES)
(0.2%)   (58,226)
NET ASSETS
100.0%   $34,144,248
    
(a)Non-income producing security.
(b)7-day current yield as of December 31, 2022 is disclosed.
    
Abbreviations:
ADR – American Depositary Receipt
At December 31, 2022 the industry sectors (excluding short-term investments) for the TSW Large Cap Value Fund were:
Sector Allocation % of Net Assets
Communication Services
15.8%
Consumer Discretionary
3.2
Consumer Staples
9.2
Energy
10.1
Financials
19.1
Health Care
17.7
Industrials
7.3
Information Technology
6.0
Materials
0.9
Utilities
3.3
Total
92.6%
 .
37