NPORT-EX 4 nportpoi_474000.htm HTML
LOGO   LOGO

MULTI-MANAGER SMALL CAP EQUITY STRATEGIES FUND

 

Not FDIC or NCUA Insured • No Financial Institution Guarantee • May Lose Value  

PORTFOLIO OF INVESTMENTS

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

(Percentages represent value of investments compared to net assets)

 

Investments in securities

Common Stocks 96.9%              

Issuer

    Shares      Value ($)  

Communication Services 0.8%

      

Diversified Telecommunication Services 0.0%

 

ATN International, Inc.

      3,700        112,628  

Bandwidth, Inc., Class A(a)

     27,111        297,679  
     

 

 

  

Total

         410,307  
     

 

 

  

Entertainment 0.1%

      

Playstudios, Inc.(a)

     16,075        38,419  

Playtika Holding Corp.(a)

     31,480        273,561  

Roku, Inc.(a)

     2,422        252,373  
     

 

 

  

Total

         564,353  
     

 

 

  

Interactive Media & Services 0.1%

      

DHI Group, Inc.(a)

     9,618        23,660  

Outbrain, Inc.(a)

     21,963        83,679  

TrueCar, Inc.(a)

     43,157        120,408  

Vimeo, Inc.(a)

     123,971        436,378  

Ziff Davis, Inc.(a)

     14,837        946,897  
     

 

 

  

Total

         1,611,022  
     

 

 

  

Media 0.6%

      

Advantage Solutions, Inc.(a)

     66,424        182,666  

Cardlytics, Inc.(a)

     18,524        147,451  

Emerald Holding, Inc.(a)

     94,500        479,115  

Nexstar Media Group, Inc., Class A

      11,429        1,622,118  

PubMatic, Inc., Class A(a)

     18,365        306,879  

Scholastic Corp.

      33,619        1,277,186  

Stagwell, Inc.(a)

     432,694        2,172,124  

TEGNA, Inc.

      84,600        1,296,918  

WideOpenWest, Inc.(a)

     76,767        307,068  
     

 

 

  

Total

         7,791,525  
     

 

 

  

Wireless Telecommunication Services 0.0%

 

   

Spok Holdings, Inc.

      5,437        91,124  
     

 

 

  

Total Communication Services

         10,468,331  
     

 

 

  
Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Consumer Discretionary 9.9%

      

Automobile Components 1.5%

      

Adient PLC(a)

     144,612        4,656,506  

American Axle & Manufacturing Holdings, Inc.(a)

     46,540        323,918  

Atmus Filtration Technologies, Inc.(a)

      59,400        1,299,672  

Cooper-Standard Holding, Inc.(a)

     5,398        95,761  

Dana, Inc.

      221,505        2,926,081  

Fox Factory Holding Corp.(a)

     68,535        4,284,123  

Goodyear Tire & Rubber Co. (The)(a)

      144,218        2,003,188  

LCI Industries

      15,051        1,633,184  

Phinia, Inc.

      50,500        1,287,750  

Stoneridge, Inc.(a)

     21,725        347,600  

Visteon Corp.(a)

     21,567        2,559,356  
     

 

 

  

Total

         21,417,139  
     

 

 

  

Automobiles 0.1%

      

Winnebago Industries, Inc.

      23,700        1,531,731  
     

 

 

  

Broadline Retail 0.3%

      

1stdibs.com, Inc.(a)

     15,157        64,721  

Global-e Online Ltd.(a)

     78,445        2,686,741  

Kohl’s Corp.

      24,500        574,525  

Macy’s, Inc.

      49,300        781,898  
     

 

 

  

Total

         4,107,885  
     

 

 

  

Diversified Consumer Services 0.4%

      

2U, Inc.(a)

     186,176        182,899  

Adtalem Global Education, Inc.(a)

     25,400        1,447,038  

Bright Horizons Family Solutions, Inc.(a)

     28,983        2,534,274  

Chegg, Inc.(a)

     98,396        977,072  

Graham Holdings Co., Class B

      1,100        689,865  
     

 

 

  

Total

         5,831,148  
     

 

 

  

Hotels, Restaurants & Leisure 2.1%

      

Bloomin’ Brands, Inc.

      42,700        996,618  

Boyd Gaming Corp.

      58,734        3,468,243  

Brinker International, Inc.(a)

     17,400        626,574  

Cava Group, Inc.(a)

     18,637        633,844  

Dave & Buster’s Entertainment, Inc.(a)

      15,300        627,912  

Denny’s Corp.(a)

     65,200        618,748  
 

 

2    Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

 

Common Stocks (continued)  

Issuer

    Shares      Value ($)  

Dine Brands Global, Inc.

      20,600        895,482  

El Pollo Loco Holdings, Inc.(a)

     81,800        679,758  

International Game Technology PLC

      59,625        1,593,776  

Life Time Group Holdings, Inc.(a)

     174,583        2,646,678  

Light & Wonder, Inc.(a)

     27,323        2,415,900  

Marriott Vacations Worldwide Corp.

      15,307        1,115,880  

Papa John’s International, Inc.

      34,290        2,237,080  

Planet Fitness, Inc., Class A(a)

     30,773        2,090,718  

Red Rock Resorts, Inc., Class A

      23,204        1,033,274  

SeaWorld Entertainment, Inc.(a)

     5,900        288,510  

Six Flags Entertainment Corp.(a)

     106,840        2,660,316  

Texas Roadhouse, Inc.

      28,940        3,257,486  

Travel + Leisure Co.

      27,800        990,792  

Xponential Fitness, Inc., Class A(a)

     17,480        238,777  
     

 

 

  

Total

         29,116,366  
     

 

 

  

Household Durables 1.7%

      

Century Communities, Inc.

      9,700        699,758  

GoPro, Inc., Class A(a)

     416,908        1,505,038  

Green Brick Partners, Inc.(a)

     5,600        265,720  

Helen of Troy Ltd.(a)

     10,137        1,064,689  

Hooker Furnishings Corp.

      8,636        154,412  

KB Home

      117,091        6,100,441  

Landsea Homes Corp.(a)

     43,169        445,072  

La-Z-Boy, Inc.

      30,400        1,069,776  

M/I Homes, Inc.(a)

     9,508        1,003,189  

Meritage Homes Corp.

      7,631        1,078,260  

Sonos, Inc.(a)

     160,249        2,419,760  

Taylor Morrison Home Corp., Class A(a)

     103,547        4,669,970  

Tri Pointe Homes, Inc.(a)

     89,640        2,615,695  

Universal Electronics, Inc.(a)

     24,107        187,794  

VOXX International Corp.(a)

     5,906        63,431  
     

 

 

  

Total

         23,343,005  
     

 

 

  

Leisure Products 0.4%

      

Funko, Inc., Class A(a)

     216,362        1,402,026  

JAKKS Pacific, Inc.(a)

     34,633        1,019,595  

Johnson Outdoors, Inc., Class A

      24,800        1,302,992  

Latham Group, Inc.(a)

     15,137        34,210  

Solo Brands, Inc., Class A(a)

     6,600        34,386  
Common Stocks (continued)  

Issuer

    Shares      Value ($)  

Vista Outdoor, Inc.(a)

      47,200        1,331,512  

YETI Holdings, Inc.(a)

     14,500        618,280  
     

 

 

  

Total

         5,743,001  
     

 

 

  

Specialty Retail 2.7%

      

1-800-Flowers.com, Inc., Class A(a)

     57,965        511,831  

Aaron’s Co., Inc. (The)

      194,732        1,715,589  

Advance Auto Parts, Inc.

      12,500        634,875  

American Eagle Outfitters, Inc.

      92,995        1,769,695  

Asbury Automotive Group, Inc.(a)

     4,700        986,154  

Burlington Stores, Inc.(a)

     9,848        1,670,122  

Cato Corp. (The), Class A

      51,700        357,764  

Designer Brands, Inc.

      45,800        533,112  

Floor & Decor Holdings, Inc., Class A(a)

     24,838        2,277,893  

Gap, Inc. (The)

      46,890        941,082  

Genesco, Inc.(a)

     57,076        2,132,930  

Group 1 Automotive, Inc.

      11,781        3,323,420  

Haverty Furniture Companies, Inc.

      30,700        962,138  

Hibbett, Inc.

      19,100        1,194,705  

Lands’ End, Inc.(a)

     37,585        265,350  

Leslie’s, Inc.(a)

     477,541        2,354,277  

Lithia Motors, Inc., Class A

      11,059        2,952,642  

LL Flooring Holdings, Inc.(a)

     184,200        644,700  

MarineMax, Inc.(a)

     33,000        984,390  

OneWater Marine, Inc., Class A(a)

     44,200        1,186,770  

PetMed Express, Inc.

      140,093        970,845  

Revolve Group, Inc.(a)

     21,400        285,048  

Signet Jewelers Ltd.

      29,267        2,405,162  

Sleep Number Corp.(a)

     95,937        972,801  

Sonic Automotive, Inc., Class A

      70,426        3,610,741  

ThredUp, Inc., Class A(a)

     36,767        71,696  

Tilly’s, Inc.(a)

     25,493        210,827  

Urban Outfitters, Inc.(a)

     8,600        307,020  

Zumiez, Inc.(a)

     57,087        1,077,803  
     

 

 

  

Total

         37,311,382  
     

 

 

  

Textiles, Apparel & Luxury Goods 0.7%

 

Carter’s, Inc.

      8,200        559,158  

Figs, Inc., Class A(a)

     40,031        290,625  

G-III Apparel Group Ltd.(a)

     141,194        4,062,151  

Hanesbrands, Inc.(a)

     185,300        674,492  
 

 

Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023     3

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

 

Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Kontoor Brands, Inc.

      26,833        1,475,010  

Movado Group, Inc.

      27,462        718,131  

Oxford Industries, Inc.

      2,900        262,247  

Steven Madden Ltd.

      20,600        781,152  

Unifi, Inc.(a)

     27,463        178,510  

Vera Bradley, Inc.(a)

     38,303        287,656  

Wolverine World Wide, Inc.

      32,441        278,019  
     

 

 

  

Total

         9,567,151  
     

 

 

  

Total Consumer Discretionary

         137,968,808  
     

 

 

  

Consumer Staples 2.8%

      

Consumer Staples Distribution & Retail 0.8%

 

Andersons, Inc. (The)

      67,401        3,360,614  

Grocery Outlet Holding Corp.(a)

     88,684        2,501,776  

Natural Grocers by Vitamin Cottage, Inc.

      23,400        367,146  

Performance Food Group, Inc.(a)

     35,628        2,317,601  

SpartanNash Co.

      39,706        880,282  

The Chefs’ Warehouse(a)

     64,624        1,738,385  
     

 

 

  

Total

         11,165,804  
     

 

 

  

Food Products 0.4%

      

B&G Foods, Inc.

      73,800        681,912  

Cal-Maine Foods, Inc.

      7,000        335,440  

Freshpet, Inc.(a)

     51,024        3,620,153  

TreeHouse Foods, Inc.(a)

     38,351        1,561,269  
     

 

 

  

Total

         6,198,774  
     

 

 

  

Household Products 0.5%

      

Central Garden & Pet Co.(a)

     14,500        588,410  

Energizer Holdings, Inc.

      32,400        999,216  

WD-40 Co.

      19,275        4,662,237  
     

 

 

  

Total

         6,249,863  
     

 

 

  

Personal Care Products 1.0%

      

BellRing Brands, Inc.(a)

     99,092        5,241,967  

Edgewell Personal Care Co.

      28,600        995,566  

elf Beauty, Inc.(a)

     29,366        3,467,831  

Herbalife Ltd.(a)

     93,900        1,209,432  

Honest Co., Inc. (The)(a)

     101,236        241,954  

Medifast, Inc.

      18,200        1,208,116  

Nature’s Sunshine Products, Inc.(a)

     14,906        255,340  
Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Nu Skin Enterprises, Inc., Class A

      35,300        600,806  

Usana Health Sciences, Inc.(a)

     14,600        689,996  
     

 

 

  

Total

         13,911,008  
     

 

 

  

Tobacco 0.1%

      

Vector Group Ltd.

      149,900        1,605,429  
     

 

 

  

Total Consumer Staples

         39,130,878  
     

 

 

  

Energy 6.4%

      

Energy Equipment & Services 1.7%

      

Atlas Energy Solutions, Inc.

      83,592        1,426,079  

Bristow Group, Inc.(a)

     1,724        44,393  

Cactus, Inc., Class A

      85,255        3,622,485  

Dril-Quip, Inc.(a)

     52,500        1,166,550  

Expro Group Holdings NV(a)

     83,449        1,297,632  

Forum Energy Technologies, Inc.(a)

     38,800        844,676  

Helix Energy Solutions Group, Inc.(a)

      156,302        1,456,735  

Helmerich & Payne, Inc.

      22,779        825,283  

Liberty Energy, Inc., Class A

      45,700        907,145  

National Energy Services Reunited
Corp.(a)

     151,800        721,050  

Newpark Resources, Inc.(a)

     196,501        1,365,682  

Oil States International, Inc.(a)

     75,218        518,252  

Patterson-UTI Energy, Inc.

      130,555        1,528,799  

Precision Drilling Corp.(a)

     20,600        1,190,680  

ProPetro Holding Corp.(a)

     100,600        916,466  

Solaris Oilfield Infrastructure, Inc., Class A

      115,000        984,400  

TechnipFMC PLC

      173,354        3,591,895  

Transocean Ltd.(a)

     178,298        1,133,975  
     

 

 

  

Total

         23,542,177  
     

 

 

  

Oil, Gas & Consumable Fuels 4.7%

      

Baytex Energy Corp.

      338,988        1,305,104  

Berry Corp.

      354,826        2,547,651  

California Resources Corp.

      99,245        5,082,336  

Callon Petroleum Co.(a)

     68,300        2,135,741  

Centrus Energy Corp. Class A(a)

     7,724        386,354  

Chord Energy Corp.

      24,902        4,037,610  

Civitas Resources, Inc.

      31,645        2,173,695  

CNX Resources Corp.(a)

     110,058        2,295,810  

CONSOL Energy, Inc.

      11,074        1,181,264  

Crescent Energy Co., Class A

      107,700        1,227,780  
 

 

4    Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

 

Common Stocks (continued)              

Issuer

    Shares      Value ($)  

CVR Energy, Inc.

      52,023        1,652,771  

Delek U.S. Holdings, Inc.

      69,620        1,889,487  

DHT Holdings, Inc.

      68,136        678,634  

Dorian LPG Ltd.

      10,752        455,455  

Equitrans Midstream Corp.

      139,400        1,307,572  

Golar LNG Ltd.

      76,932        1,656,346  

Gulfport Energy Corp.(a)

     24,830        3,402,703  

Kinetik Holdings, Inc.

      18,900        687,204  

Kosmos Energy Ltd.(a)

     176,500        1,198,435  

Matador Resources Co.

      83,195        4,815,327  

Murphy Oil Corp.

      46,191        1,975,589  

Northern Oil and Gas, Inc.

      32,900        1,231,118  

Par Pacific Holdings, Inc.(a)

     95,136        3,260,311  

Permian Resources Corp.

      140,556        1,846,906  

REX American Resources Corp.(a)

     34,359        1,684,278  

Scorpio Tankers, Inc.

      40,637        2,230,565  

SM Energy Co.

      101,039        3,783,910  

Talos Energy, Inc.(a)

     161,325        2,245,644  

Teekay Tankers Ltd., Class A

      40,642        2,019,501  

VAALCO Energy, Inc.

      106,000        492,900  

Vertex Energy, Inc.(a)

     294,200        994,396  

Vital Energy, Inc.(a)

     26,400        1,183,776  

World Kinect Corp.

      118,148        2,485,834  
     

 

 

  

Total

         65,552,007  
     

 

 

  

Total Energy

         89,094,184  
     

 

 

  

Financials 16.1%

      

Banks 9.0%

      

1st Source Corp.

      5,100        246,483  

Amalgamated Financial Corp.

      12,600        264,600  

Amerant Bancorp, Inc.

      7,756        160,627  

Ameris Bancorp

      64,397        2,742,024  

Associated Banc-Corp.

      50,308        892,464  

Atlantic Union Bankshares Corp.

      64,430        1,969,625  

Axos Financial, Inc.(a)

     44,932        1,719,548  

Bancorp, Inc. (The)(a)

     67,573        2,636,023  

Bank of Marin Bancorp

      44,800        861,504  

BankUnited, Inc.

      180,699        4,985,485  

Bankwell Financial Group, Inc.

      3,614        97,433  

Baycom Corp.

      24,299        507,849  
Common Stocks (continued)              

Issuer

    Shares      Value ($)  

BCB Bancorp, Inc.

      42,973        497,627  

Berkshire Hills Bancorp, Inc.

      62,028        1,298,246  

Bridgewater Bancshares, Inc.(a)

     27,600        286,212  

Brookline Bancorp, Inc.

      92,100        877,713  

Byline Bancorp, Inc.

      20,493        409,655  

Cadence Bank

      25,050        627,502  

Cambridge Bancorp

      10,200        595,986  

Camden National Corp.

      18,400        621,000  

Capital Bancorp, Inc.

      7,852        166,227  

Capital City Bank Group, Inc.

      10,445        279,299  

Capitol Federal Financial, Inc.

      47,800        257,642  

Carter Bankshares, Inc.(a)

     2,393        29,984  

Cathay General Bancorp

      75,370        2,764,572  

Central Pacific Financial Corp.

      84,345        1,481,942  

Central Valley Community Bancorp

      18,600        320,106  

Civista Bancshares, Inc.

      19,700        308,305  

CNB Financial Corp.

      20,900        425,106  

Columbia Banking System, Inc.

      40,700        912,901  

Community Trust Bancorp, Inc.

      37,570        1,494,910  

ConnectOne Bancorp, Inc.

      83,168        1,635,083  

CrossFirst Bankshares, Inc.(a)

     34,900        391,578  

Customers Bancorp, Inc.(a)

     82,660        3,725,486  

CVB Financial Corp.

      38,600        690,168  

Dime Community Bancshares, Inc.

      48,900        982,890  

Eagle Bancorp, Inc.

      50,600        1,201,244  

Eastern Bankshares, Inc.

      102,140        1,221,594  

Equity Bancshares, Inc., Class A

      1,519        38,324  

FB Financial Corp.

      57,662        1,935,137  

Financial Institutions, Inc.

      32,173        558,523  

First BanCorp

      231,695        3,475,425  

First Busey Corp.

      24,900        540,330  

First Business Financial Services, Inc.

      10,107        353,543  

First Financial Bankshares, Inc.

      26,792        703,290  

First Financial Corp.

      32,616        1,247,562  

First Foundation, Inc.

      211,805        1,245,413  

First Hawaiian, Inc.

      45,200        888,180  

First Internet Bancorp

      53,658        1,177,257  

First Interstate Bancsystem, Inc.

      22,300        577,347  

First Merchants Corp.

      23,631        724,763  
 

 

Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023     5

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

 

Common Stocks (continued)              

Issuer

    Shares      Value ($)  

First Mid Bancshares, Inc.

      20,700        641,493  

First of Long Island Corp. (The)

      47,800        543,964  

Five Star Bancorp

      2,905        66,379  

Flushing Financial Corp.

      61,200        864,756  

FS Bancorp, Inc.

      11,090        336,582  

Great Southern Bancorp, Inc.

      11,945        606,925  

Guaranty Bancshares, Inc.

      6,868        205,285  

Hancock Whitney Corp.

      48,455        1,998,769  

Hanmi Financial Corp.

      107,210        1,783,974  

HarborOne Bancorp, Inc.

      49,789        549,173  

HBT Financial, Inc.

      2,577        48,319  

Heartland Financial U.S.A., Inc.

      9,500        293,835  

Heritage Commerce Corp.

      2,550        21,650  

Heritage Financial Corp.

      17,600        313,632  

Hilltop Holdings, Inc.

      100,457        2,958,459  

Home Bancorp, Inc.

      10,692        389,723  

HomeStreet, Inc.

      141,220        953,235  

HomeTrust Bancshares, Inc.

      13,659        315,250  

Hope Bancorp, Inc.

      119,300        1,169,140  

Horizon Bancorp, Inc.

      82,096        894,025  

Independent Bank Corp.

      32,270        1,840,035  

Independent Bank Corp.

      69,474        1,502,028  

Independent Bank Group, Inc.

      15,000        580,200  

Investar Holding Corp.

      15,700        172,857  

Kearny Financial Corp.

      126,490        999,271  

Lakeland Bancorp, Inc.

      54,800        678,972  

Live Oak Bancshares, Inc.

      24,179        812,414  

Luther Burbank Corp.(a)

     41,400        354,798  

Macatawa Bank Corp.

      19,046        184,937  

Mercantile Bank Corp.

      20,663        710,601  

Metropolitan Bank Holding Corp.(a)

     13,688        533,421  

Midland States Bancorp, Inc.

      51,963        1,173,325  

MidWestOne Financial Group, Inc.

      16,100        339,066  

MVB Financial Corp.

      1,548        30,945  

New York Community Bancorp, Inc.

      176,412        1,660,037  

Northeast Bank

      7,600        389,652  

Northeast Community Bancorp, Inc.

      25,700        430,989  

Northfield Bancorp, Inc.

      61,216        584,001  

Northrim BanCorp, Inc.

      8,200        404,834  
Common Stocks (continued)              

Issuer

    Shares      Value ($)  

OceanFirst Financial Corp.

      92,093        1,276,409  

OFG Bancorp

      45,777        1,536,276  

Old Second Bancorp, Inc.

      3,364        47,399  

Pacific Premier Bancorp, Inc.

      26,400        594,528  

PacWest Bancorp

      169,000        1,274,260  

Parke Bancorp, Inc.

      14,400        260,064  

Pathward Financial, Inc.

      2,133        105,775  

PCB Bancorp

      23,900        370,450  

Peapack-Gladstone Financial Corp.

      18,511        459,813  

Pinnacle Financial Partners, Inc.

      19,703        1,429,847  

Popular, Inc.

      19,100        1,409,389  

Preferred Bank

      27,429        1,690,449  

Premier Financial Corp.

      48,300        964,551  

Primis Financial Corp.

      53,887        539,409  

Provident Bancorp, Inc.(a)

     13,562        132,365  

Provident Financial Services, Inc.

      60,100        914,722  

QCR Holdings, Inc.

      18,851        936,518  

RBB Bancorp

      34,099        521,033  

Renasant Corp.

      59,722        1,626,827  

Sandy Spring Bancorp, Inc.

      45,100        993,102  

Shore Bancshares, Inc.

      25,947        309,807  

Sierra Bancorp

      21,764        407,857  

Simmons First National Corp., Class A

      62,000        991,380  

SmartFinancial, Inc.

      6,163        131,703  

South Plains Financial, Inc.

      8,250        214,500  

South State Corp.

      8,414        623,057  

Southern First Bancshares, Inc.(a)

     11,654        342,395  

Southside Bancshares, Inc.

      4,298        117,894  

Synovus Financial Corp.

      9,500        292,505  

Territorial Bancorp, Inc.

      12,700        101,473  

Texas Capital Bancshares, Inc.(a)

     71,554        3,926,884  

Third Coast Bancshares, Inc.(a)

     7,472        126,650  

Towne Bank

      23,400        614,484  

Triumph Financial, Inc.(a)

     21,447        1,455,608  

TrustCo Bank Corp.

      29,460        790,706  

Trustmark Corp.

      32,729        749,821  

UMB Financial Corp.

      55,059        3,945,528  

Univest Corporation of Pennsylvania

      31,300        591,257  

Valley National Bancorp

      98,100        892,710  
 

 

6    Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

 

Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Veritex Holdings, Inc.

      43,618        834,849  

WaFd, Inc.

      36,744        982,167  

Washington Trust Bancorp, Inc.

      37,200        994,728  

Western Alliance Bancorp

      59,822        3,064,083  

Wintrust Financial Corp.

      7,400        633,958  

WSFS Financial Corp.

      47,591        1,835,585  

Zions Bancorp

      36,400        1,296,932  
     

 

 

  

Total

         125,740,395  
     

 

 

  

Capital Markets 1.4%

      

Diamond Hill Investment Group, Inc.

      4,300        690,537  

Donnelley Financial Solutions, Inc.(a)

     23,338        1,377,409  

Evercore, Inc., Class A

      28,814        4,251,506  

Federated Hermes, Inc., Class B

      41,200        1,310,984  

Hamilton Lane, Inc., Class A

      14,712        1,439,569  

Houlihan Lokey, Inc., Class A

      23,155        2,494,256  

Janus Henderson Group PLC

      49,600        1,299,024  

Perella Weinberg Partners

      82,600        968,072  

Robinhood Markets, Inc., Class A(a)

     18,951        166,769  

Stifel Financial Corp.

      23,538        1,436,289  

StoneX Group, Inc.(a)

     26,061        1,593,139  

TPG, Inc.

      13,762        481,670  

Virtu Financial, Inc. Class A

      66,500        1,195,670  

Virtus Investment Partners, Inc.

      6,700        1,310,654  
     

 

 

  

Total

         20,015,548  
     

 

 

  

Consumer Finance 1.1%

      

Bread Financial Holdings, Inc.

      66,108        1,857,635  

Enova International, Inc.(a)

     16,120        664,144  

Ezcorp, Inc., Class A(a)

     129,220        1,059,604  

Green Dot Corp., Class A(a)

     76,205        611,164  

LendingClub Corp.(a)

     267,560        1,685,628  

LendingTree, Inc.(a)

     4,195        74,252  

Navient Corp.

      237,064        4,060,906  

Oportun Financial Corp.(a)

     24,091        62,637  

PRA Group, Inc.(a)

     37,885        702,009  

PROG Holdings, Inc.(a)

     65,205        1,777,488  

Regional Management Corp.

      5,715        126,416  

SLM Corp.

      135,735        2,040,097  
     

 

 

  

Total

         14,721,980  
     

 

 

  
Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Financial Services 1.7%

      

AvidXchange Holdings, Inc.(a)

     305,518        3,259,877  

Banco Latinoamericano de Comercio Exterior SA, Class E

      4,837        117,878  

Enact Holdings, Inc.

      47,200        1,307,912  

Essent Group Ltd.

      27,100        1,310,014  

Euronet Worldwide, Inc.(a)

     3,400        296,548  

Flywire Corp.(a)

     59,134        1,377,822  

Jackson Financial, Inc., Class A

      64,364        3,072,094  

Merchants Bancorp

      25,192        847,711  

MGIC Investment Corp.

      175,933        3,094,661  

NCR Atleos Corp.(a)

     19,750        438,648  

NMI Holdings, Inc., Class A(a)

     43,500        1,196,250  

Ocwen Financial Corp.(a)

     3,703        95,648  

Paysafe Ltd.(a)

     69,384        701,472  

PennyMac Financial Services, Inc.

      6,801        529,050  

Radian Group, Inc.

      121,207        3,116,232  

Remitly Global, Inc.(a)

     160,620        3,459,755  

Waterstone Financial, Inc.

      2,386        29,133  
     

 

 

  

Total

         24,250,705  
     

 

 

  

Insurance 2.5%

      

Ambac Financial Group, Inc.(a)

     44,400        654,900  

AMERISAFE, Inc.

      24,928        1,200,533  

Assured Guaranty Ltd.

      15,500        1,052,605  

Axis Capital Holdings Ltd.

      32,400        1,825,416  

Brighthouse Financial, Inc.(a)

     24,486        1,274,007  

CNO Financial Group, Inc.

      138,629        3,673,669  

Donegal Group, Inc., Class A

      8,101        115,277  

eHealth, Inc.(a)

     7,728        57,419  

Employers Holdings, Inc.

      60,329        2,311,204  

Enstar Group Ltd.(a)

     4,700        1,290,808  

Fidelis Insurance Holdings Ltd.(a)

     3,945        48,129  

Hanover Insurance Group, Inc. (The)

      8,137        1,011,429  

Hippo Holdings, Inc.(a)

     2,219        18,972  

Horace Mann Educators Corp.

      63,004        2,108,114  

James River Group Holdings Ltd.

      39,731        356,784  

Kemper Corp.

      30,000        1,326,900  

Lincoln National Corp.

      97,003        2,306,731  

Mercury General Corp.

      64,217        2,392,083  
 

 

Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023    7

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

 

Common Stocks (continued)              

Issuer

    Shares      Value ($)  

ProAssurance Corp.

      126,238        1,561,564  

Reinsurance Group of America, Inc.

      17,738        2,892,358  

Safety Insurance Group, Inc.

      9,000        692,370  

Selectquote, Inc.(a)

     8,914        11,232  

SiriusPoint Ltd.(a)

     94,000        1,003,920  

Skyward Specialty Insurance Group, Inc.(a)

     46,380        1,516,626  

Stewart Information Services Corp.

      26,900        1,271,025  

United Fire Group, Inc.

      19,691        411,345  

Universal Insurance Holdings, Inc.

      40,236        682,403  

White Mountains Insurance Group Ltd.

      860        1,317,451  
     

 

 

  

Total

         34,385,274  
     

 

 

  

Mortgage Real Estate Investment Trusts (REITS) 0.4%

 

Apollo Commercial Real Estate Finance, Inc.

      53,400        575,652  

Blackstone Mortgage Trust, Inc.

      64,929        1,440,125  

BrightSpire Capital, Inc.

      42,900        291,291  

Claros Mortgage Trust, Inc.

      25,100        306,471  

Granite Point Mortgage Trust, Inc.

      110,300        606,650  

Great Ajax Corp.

      63,492        300,317  

Starwood Property Trust, Inc.

      55,356        1,099,924  

TPG RE Finance Trust, Inc.

      116,700        689,697  
     

 

 

  

Total

         5,310,127  
     

 

 

  

Total Financials

         224,424,029  
     

 

 

  

Health Care 11.2%

      

Biotechnology 4.3%

      

2seventy bio, Inc.(a)

     122,166        223,564  

Aadi Bioscience, Inc.(a)

     13,026        68,517  

ACELYRIN, Inc.(a)

     81,563        548,103  

Agios Pharmaceuticals, Inc.(a)

     61,083        1,357,875  

Alector, Inc.(a)

     89,906        487,291  

Allogene Therapeutics, Inc.(a)

     150,175        352,911  

Amicus Therapeutics, Inc.(a)

     327,251        3,606,306  

Anika Therapeutics, Inc.(a)

     8,225        180,210  

Apellis Pharmaceuticals, Inc.(a)

     29,345        1,580,815  

Arcturus Therapeutics Holdings, Inc.(a)

     8,225        196,906  

Arcus Biosciences, Inc.(a)

     21,638        325,868  

Arrowhead Pharmaceuticals, Inc.(a)

     80,470        1,705,964  

bluebird bio, Inc.(a)

     267,400        1,021,468  

Blueprint Medicines Corp.(a)

     52,738        3,672,674  

C4 Therapeutics, Inc.(a)

     54,250        88,427  
Common Stocks (continued)              

Issuer

    Shares      Value ($)  

CareDx, Inc.(a)

     161,690        1,570,010  

Century Therapeutics, Inc.(a)

     25,228        34,562  

Clementia Pharmaceuticals,
Inc.(a),(b),(c),(d)

      134,864        0  

Deciphera Pharmaceuticals, Inc.(a)

     34,084        429,799  

Design Therapeutics, Inc.(a)

     47,862        114,869  

Eagle Pharmaceuticals, Inc.(a)

     4,761        27,852  

Editas Medicine, Inc.(a)

     22,886        240,990  

Emergent BioSolutions, Inc.(a)

     622,239        1,331,591  

Enanta Pharmaceuticals, Inc.(a)

     59,369        554,506  

Erasca, Inc.(a)

     42,725        72,633  

Exelixis, Inc.(a)

     130,146        2,838,484  

Fate Therapeutics, Inc.(a)

     236,948        590,001  

FibroGen, Inc.(a)

     283,932        156,844  

Halozyme Therapeutics, Inc.(a)

     100,384        3,875,826  

Ideaya Biosciences, Inc.(a)

     18,000        566,100  

Insmed, Inc.(a)

     20,800        520,416  

Ironwood Pharmaceuticals, Inc.(a)

     347,469        3,439,943  

iTeos Therapeutics, Inc.(a)

     49,546        463,751  

Kodiak Sciences, Inc.(a)

     25,227        61,049  

MacroGenics, Inc.(a)

     28,970        237,844  

Natera, Inc.(a)

     67,078        3,753,014  

Nurix Therapeutics, Inc.(a)

     62,273        387,338  

Organogenesis Holdings, Inc.(a)

     24,360        62,118  

PMV Pharmaceuticals, Inc.(a)

     120,519        275,989  

PTC Therapeutics, Inc.(a)

     60,763        1,398,764  

REGENXBIO, Inc.(a)

     164,277        3,206,687  

Relay Therapeutics, Inc.(a)

     383,615        3,034,395  

Revolution Medicines, Inc.(a)

     118,635        2,767,755  

Sage Therapeutics, Inc.(a)

     52,877        1,035,332  

Sangamo Therapeutics, Inc.(a)

     155,073        66,681  

Stoke Therapeutics, Inc.(a)

     31,815        120,579  

Sutro Biopharma, Inc.(a)

     113,726        296,825  

Travere Therapeutics, Inc.(a)

     75,159        471,999  

Twist Bioscience Corp.(a)

     120,646        2,901,536  

Vanda Pharmaceuticals, Inc.(a)

     178,969        665,765  

Vaxcyte, Inc.(a)

     13,434        695,478  

Vericel Corp.(a)

     136,659        4,856,861  

Verve Therapeutics, Inc.(a)

     65,201        735,467  

Vir Biotechnology, Inc.(a)

     31,203        296,116  
 

 

8    Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

 

Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Y-mAbs Therapeutics, Inc.(a)

     30,341        188,418  

Zymeworks, Inc.(a)

     39,142        347,190  
     

 

 

  

Total

         60,108,276  
     

 

 

  

Health Care Equipment & Supplies 2.8%

 

   

Angiodynamics, Inc.(a)

     109,724        716,498  

CONMED Corp.

      10,487        1,124,940  

Cue Health, Inc.(a)

     20,228        7,039  

Cutera, Inc.(a)

     41,691        70,875  

Establishment Labs Holdings, Inc.(a)

     34,530        885,694  

Haemonetics Corp.(a)

     20,027        1,619,583  

Inari Medical, Inc.(a)

     52,724        3,147,096  

Inogen, Inc.(a)

     63,506        369,605  

iRhythm Technologies, Inc.(a)

     34,726        2,961,433  

LeMaitre Vascular, Inc.

      116,916        6,161,473  

LivaNova PLC(a)

     9,375        420,469  

Merit Medical Systems, Inc.(a)

     123,610        8,845,532  

Neogen Corp.(a)

     362,583        6,153,033  

Omnicell, Inc.(a)

     47,030        1,568,921  

OraSure Technologies, Inc.(a)

     35,933        263,030  

Orthofix Medical, Inc.(a)

     22,730        251,166  

Outset Medical, Inc.(a)

     147,762        774,273  

Shockwave Medical, Inc.(a)

     8,043        1,403,906  

Tandem Diabetes Care, Inc.(a)

     25,401        514,116  

Varex Imaging Corp.(a)

     11,696        220,470  

Zimvie, Inc.(a)

     79,153        747,996  
     

 

 

  

Total

         38,227,148  
     

 

 

  

Health Care Providers & Services 0.8%

 

   

Acadia Healthcare Co., Inc.(a)

     33,369        2,435,603  

Accolade, Inc.(a)

     203,138        1,773,395  

Addus HomeCare Corp.(a)

     3,226        281,307  

Castle Biosciences, Inc.(a)

     50,127        1,002,039  

Cross Country Healthcare, Inc.(a)

     4,450        90,202  

National HealthCare Corp.

      8,300        635,531  

National Research Corp., Class A

      47,953        1,986,693  

Premier, Inc.

      63,600        1,309,524  

Progyny, Inc.(a)

     18,667        641,398  

Select Medical Holdings Corp.

      30,100        680,260  

Tenet Healthcare Corp.(a)

     9,710        670,087  
     

 

 

  

Total

         11,506,039  
     

 

 

  
Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Health Care Technology 1.2%

      

American Well Corp., Class A(a)

     268,512        341,010  

Computer Programs & Systems, Inc.(a)

     96,348        1,012,617  

Definitive Healthcare Corp.(a)

     248,380        2,049,135  

Evolent Health, Inc., Class A(a)

     164,405        4,570,459  

Health Catalyst, Inc.(a)

     176,755        1,269,101  

HealthStream, Inc.

      12,975        324,375  

Sharecare, Inc.(a)

     84,864        79,569  

Simulations Plus, Inc.

      134,584        5,275,693  

Veradigm, Inc.(a)

     183,592        2,107,636  
     

 

 

  

Total

         17,029,595  
     

 

 

  

Life Sciences Tools & Services 1.4%

 

   

Azenta, Inc.(a)

     76,306        4,301,369  

Codexis, Inc.(a)

     73,390        173,200  

Mesa Laboratories, Inc.

      34,359        2,933,228  

Quanterix Corp.(a)

     3,959        94,897  

Repligen Corp.(a)

     33,990        5,344,928  

Seer, Inc.(a)

     67,359        108,448  

Stevanato Group SpA

      239,795        6,328,190  
     

 

 

  

Total

         19,284,260  
     

 

 

  

Pharmaceuticals 0.7%

      

Amneal Pharmaceuticals, Inc.(a)

     215,567        929,094  

Arvinas, Inc.(a)

     58,997        1,296,164  

Atea Pharmaceuticals, Inc.(a)

     45,249        135,294  

Athira Pharma, Inc.(a)

     102        147  

Cara Therapeutics, Inc.(a)

     152,284        147,243  

Intra-Cellular Therapies, Inc.(a)

     59,777        3,668,514  

Nektar Therapeutics(a)

     468,634        229,631  

NGM Biopharmaceuticals, Inc.(a)

     92,503        69,090  

Nuvation Bio, Inc.(a)

     56,519        70,084  

Phathom Pharmaceuticals, Inc.(a)

     73,011        510,347  

Phibro Animal Health Corp., Class A

      70,100        672,259  

Prestige Consumer Healthcare, Inc.(a)

      15,229        873,383  

Revance Therapeutics, Inc.(a)

     141,658        959,025  

SIGA Technologies, Inc.

      101,658        552,003  

Zevra Therapeutics, Inc.(a)

     1,843        8,773  
     

 

 

  

Total

         10,121,051  
     

 

 

  

Total Health Care

         156,276,369  
     

 

 

  
 

 

Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023    9

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

 

Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Industrials 24.3%

      

Aerospace & Defense 1.4%

      

AerSale Corp.(a)

     61,900        863,505  

Axon Enterprise, Inc.(a)

     19,000        4,367,530  

Hexcel Corp.

      56,973        3,948,799  

Kaman Corp.

      33,562        680,302  

Mercury Systems, Inc.(a)

     124,428        4,266,636  

Moog, Inc., Class A

      22,815        3,194,328  

National Presto Industries, Inc.

      12,300        919,056  

V2X, Inc.(a)

     21,600        915,840  
     

 

 

  

Total

         19,155,996  
     

 

 

  

Air Freight & Logistics 0.1%

      

Forward Air Corp.

      20,600        1,308,718  

Radiant Logistics, Inc.(a)

     14,450        86,844  
     

 

 

  

Total

         1,395,562  
     

 

 

  

Building Products 4.0%

      

AAON, Inc.

      270,580        16,938,308  

Advanced Drainage Systems, Inc.

      24,350        2,949,028  

Armstrong World Industries, Inc.

      12,300        1,043,163  

AZZ, Inc.

      26,700        1,312,839  

CSW Industrials, Inc.

      20,025        3,551,033  

Insteel Industries, Inc.

      47,207        1,605,982  

JELD-WEN Holding, Inc.(a)

     60,554        967,653  

Quanex Building Products Corp.

      12,090        372,251  

Resideo Technologies, Inc.(a)

     160,307        2,633,844  

Simpson Manufacturing Co., Inc.

      105,134        17,554,224  

Trex Company, Inc.(a)

     91,280        6,414,246  
     

 

 

  

Total

         55,342,571  
     

 

 

  

Commercial Services & Supplies 2.9%

 

   

ABM Industries, Inc.

      76,212        3,123,930  

ACCO Brands Corp.

      185,700        999,066  

ACV Auctions, Inc., Class A(a)

     172,863        2,701,849  

Brady Corp., Class A

      17,800        1,001,606  

BrightView Holdings, Inc.(a)

     44,750        341,890  

Brink’s Co. (The)

      15,000        1,183,500  

Casella Waste Systems, Inc., Class A(a)

     208,348        16,851,186  

CoreCivic, Inc.(a)

     87,406        1,264,765  

Ennis, Inc.

      26,400        560,472  

 

Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Enviri Corp.(a)

     105,828        624,385  

Healthcare Services Group, Inc.(a)

     102,500        995,275  

HNI Corp.

      30,700        1,199,449  

Interface, Inc.

      146,021        1,476,272  

MillerKnoll, Inc.

      56,300        1,452,540  

MSA Safety, Inc.

      26,872        4,679,490  

Quad/Graphics, Inc.(a)

     50,800        234,188  

Steelcase, Inc., Class A

      157,102        1,933,926  
     

 

 

  

Total

         40,623,789  
     

 

 

  

Construction & Engineering 2.1%

      

API Group Corp.(a)

     78,963        2,396,527  

Argan, Inc.

      10,634        495,970  

Construction Partners, Inc., Class A(a)

     226,714        9,512,919  

EMCOR Group, Inc.

      23,221        4,934,927  

Fluor Corp.(a)

     117,349        4,462,782  

Great Lakes Dredge & Dock Corp.(a)

     11,689        78,550  

Limbach Holdings, Inc.(a)

     7,205        274,655  

MasTec, Inc.(a)

     21,959        1,331,594  

Matrix Service Co.(a)

     20,441        203,592  

Primoris Services Corp.

      29,734        902,724  

Tutor Perini Corp.(a)

     251,342        2,103,733  

Valmont Industries, Inc.

      10,736        2,357,304  
     

 

 

  

Total

         29,055,277  
     

 

 

  

Electrical Equipment 0.8%

      

Babcock & Wilcox Enterprises, Inc.(a)

     20,867        29,631  

Bloom Energy Corp., Class A(a)

     161,975        2,338,919  

GrafTech International Ltd.

      372,400        919,828  

NEXTracker, Inc., Class A(a)

     60,597        2,462,662  

Powell Industries, Inc.

      21,907        1,821,786  

Preformed Line Products Co.

      3,000        373,830  

Shoals Technologies Group, Inc., Class A(a)

     124,942        1,730,447  

Thermon(a)

     31,100        937,665  

Vicor Corp.(a)

     25,126        918,858  
     

 

 

  

Total

         11,533,626  
     

 

 

  
 

 

10    Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

 

Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Ground Transportation 0.8%

      

ArcBest Corp.

      46,820        5,580,476  

Covenant Logistics Group, Inc., Class A

      18,187        774,221  

Heartland Express, Inc.

      120,100        1,611,742  

Marten Transport Ltd.

      36,600        689,910  

PAM Transportation Services, Inc.(a)

     16,700        314,962  

Saia, Inc.(a)

     6,252        2,440,718  

TuSimple Holdings, Inc., Class A(a)

     71,245        60,629  
     

 

 

  

Total

              11,472,658  
     

 

 

  

Machinery 5.2%

      

AGCO Corp.

      14,130        1,604,179  

Astec Industries, Inc.

      26,507        824,103  

Barnes Group, Inc.

      54,596        1,440,242  

Chart Industries, Inc.(a)

     16,735        2,176,052  

Columbus McKinnon Corp.

      28,600        998,712  

Douglas Dynamics, Inc.

      129,775        3,545,453  

Enerpac Tool Group Corp.

      20,600        562,380  

ESCO Technologies, Inc.

      62,062        6,515,269  

Federal Signal Corp.

      81,150        5,594,481  

Flowserve Corp.

      34,400        1,316,144  

Gates Industrial Corp. PLC(a)

     70,000        858,200  

Greenbrier Companies, Inc. (The)

      68,246        2,573,557  

Helios Technologies, Inc.

      120,496        4,624,636  

Hillenbrand, Inc.

      64,858        2,512,599  

Hillman Solutions Corp.(a)

     442,780        3,241,150  

Hyliion Holdings Corp.(a)

     87,844        49,957  

ITT, Inc.

      42,671        4,619,989  

John Bean Technologies Corp.

      73,435        7,585,835  

Luxfer Holdings PLC, ADR

      32,749        270,179  

Manitowoc Co., Inc. (The)(a)

     87,904        1,259,664  

Miller Industries, Inc.

      11,600        460,984  

Mueller Industries, Inc.

      22,200        921,966  

Mueller Water Products, Inc., Class A

      65,500        870,495  

Omega Flex, Inc.

      20,724        1,461,456  

Park-Ohio Holdings Corp.

      1,857        42,284  

Proto Labs, Inc.(a)

     46,038        1,666,576  

RBC Bearings, Inc.(a)

     35,317        9,102,604  

REV Group, Inc.

      33,986        536,639  

Terex Corp.

      54,716        2,708,442  
Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Titan International, Inc.(a)

     88,556        1,157,427  

Trinity Industries, Inc.

      44,983        1,122,776  

Wabash National Corp.

      46,000        1,008,320  
     

 

 

  

Total

         73,232,750  
     

 

 

  

Marine Transportation 0.1%

      

Matson, Inc.

      9,700        928,969  
     

 

 

  

Professional Services 3.4%

      

Alight, Inc., Class A(a)

     177,300        1,356,345  

Barrett Business Services, Inc.

      5,276        580,096  

BGSF, Inc.

      15,300        151,929  

Concentrix Corp.

      15,300        1,438,047  

Conduent, Inc.(a)

     202,389        615,262  

ExlService Holdings, Inc.(a)

     88,596        2,513,468  

Exponent, Inc.

      127,326        9,799,009  

Heidrick & Struggles International, Inc.

      69,833        1,898,061  

HireRight Holdings Corp.(a)

     41,978        552,011  

ICF International, Inc.

      16,400        2,295,180  

KBR, Inc.

      76,628        3,959,369  

Kelly Services, Inc., Class A

      78,349        1,628,876  

Kforce, Inc.

      14,600        1,017,620  

Korn/Ferry International

      25,500        1,319,370  

ManpowerGroup, Inc.

      15,800        1,172,518  

Mistras Group, Inc.(a)

     13,130        86,921  

Parsons Corp.(a)

     32,420        2,019,442  

Paycor HCM, Inc.(a)

     301,551        6,395,897  

RCM Technologies, Inc.(a)

     16,200        437,562  

Resources Connection, Inc.

      126,916        1,726,057  

Science Applications International Corp.

      17,085        2,005,950  

Sterling Check Corp.(a)

     11,797        149,350  

TrueBlue, Inc.(a)

     162,146        2,260,315  

TTEC Holdings, Inc.

      54,700        1,023,984  

Verra Mobility Corp.(a)

     29,000        582,320  
     

 

 

  

Total

              46,984,959  
     

 

 

  

Trading Companies & Distributors 3.5%

 

   

Air Lease Corp.

      55,223        2,142,100  

Applied Industrial Technologies, Inc.

      35,231        5,639,426  

Beacon Roofing Supply, Inc.(a)

     24,719        1,986,419  

Boise Cascade Co.

      36,071        3,942,560  
 

 

Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023    11

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

 

Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Core & Main, Inc., Class A(a)

     59,204        2,073,916  

FTAI Aviation Ltd.

      95,629        3,940,871  

Global Industrial Co.

      18,754        667,830  

GMS, Inc.(a)

     23,187        1,568,369  

Herc Holdings Inc

      16,097        1,990,555  

MRC Global, Inc.(a)

     26,700        276,078  

NOW, Inc.(a)

     112,362        1,120,249  

Rush Enterprises, Inc., Class A

      101,098        4,010,538  

SiteOne Landscape Supply, Inc.(a)

     73,898        10,406,316  

Titan Machinery, Inc.(a)

     28,600        653,796  

Transcat, Inc.(a)

     45,563        4,464,263  

WESCO International, Inc.

      24,563        3,828,144  
     

 

 

  

Total

         48,711,430  
     

 

 

  

Total Industrials

         338,437,587  
     

 

 

  

Information Technology 15.5%

      

Communications Equipment 0.7%

 

Cambium Networks Corp.(a)

     127,124        593,669  

Ciena Corp.(a)

     27,406        1,256,565  

Comtech Telecommunications Corp.

      39,193        462,869  

Digi International, Inc.(a)

     214,620        5,052,155  

DZS, Inc.(a)

     14,218        22,891  

Extreme Networks, Inc.(a)

     43,359        699,814  

Harmonic, Inc.(a)

     28,978        320,497  

NETGEAR, Inc.(a)

     73,101        997,098  

Ribbon Communications, Inc.(a)

     135,584        288,794  
     

 

 

  

Total

         9,694,352  
     

 

 

  

Electronic Equipment, Instruments & Components 2.3%

 

Avnet, Inc.

      27,700        1,295,252  

Belden, Inc.

      17,600        1,169,344  

Benchmark Electronics, Inc.

      43,294        1,080,185  

Coherent Corp.(a)

     45,700        1,681,303  

Daktronics, Inc.(a)

     80,099        835,433  

ePlus, Inc.(a)

     15,800        1,002,984  

FARO Technologies, Inc.(a)

     49,177        903,381  

Itron, Inc.(a)

     18,000        1,212,840  

Kimball Electronics, Inc.(a)

     40,200        990,528  

Knowles Corp.(a)

     74,427        1,181,157  

Littelfuse, Inc.

      8,684        2,021,635  

Methode Electronics, Inc.

      9,218        218,743  
Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Novanta, Inc.(a)

     66,609        9,621,004  

PC Connection, Inc.

      11,600        691,708  

Plexus Corp.(a)

     12,376        1,260,991  

Sanmina Corp.(a)

     26,100        1,307,871  

Scansource, Inc.(a)

     43,371        1,449,893  

TTM Technologies, Inc.(a)

     89,000        1,335,890  

Vishay Intertechnology, Inc.

      86,888        1,931,520  

Vontier Corp.

      36,800        1,241,264  
     

 

 

  

Total

         32,432,926  
     

 

 

  

IT Services 0.6%

      

Brightcove, Inc.(a)

     10,010        24,525  

DigitalOcean Holdings, Inc.(a)

     50,557        1,497,498  

DXC Technology Co.(a)

     28,280        654,117  

Edgio, Inc.(a)

     42,371        19,622  

Globant SA(a)

     8,505        1,877,904  

Kyndryl Holdings, Inc.(a)

     37,070        668,372  

Rackspace Technology, Inc.(a)

     39,636        49,941  

Squarespace, Inc., Class A(a)

     88,338        2,476,114  

Unisys Corp.(a)

     105,408        504,904  
     

 

 

  

Total

         7,772,997  
     

 

 

  

Semiconductors & Semiconductor Equipment 1.7%

 

Allegro MicroSystems, Inc.(a)

     62,236        1,694,064  

Axcelis Technologies, Inc.(a)

     9,061        1,126,101  

Cirrus Logic, Inc.(a)

     13,200        1,002,012  

Credo Technology Group Holding Ltd.(a)

     126,188        2,260,027  

Diodes, Inc.(a)

     24,600        1,633,932  

MACOM Technology Solutions Holdings, Inc.(a)

     11,388        956,364  

MaxLinear, Inc.(a)

     36,700        687,391  

MKS Instruments, Inc.

      18,889        1,559,287  

Onto Innovation, Inc.(a)

     10,827        1,526,715  

Photronics, Inc.(a)

     42,700        902,251  

Power Integrations, Inc.

      24,600        1,879,686  

Rambus, Inc.(a)

     91,330        6,180,301  

Semtech Corp.(a)

     76,800        1,257,216  

SMART Global Holdings, Inc.(a)

     41,119        685,043  

Ultra Clean Holdings, Inc.(a)

     23,318        632,851  
     

 

 

  

Total

         23,983,241  
     

 

 

  
 

 

12    Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

 

Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Software 9.5%

      

ACI Worldwide, Inc.(a)

     52,200        1,395,828  

Adeia, Inc.

      118,061        1,084,981  

Altair Engineering, Inc., Class A(a)

     132,663        9,612,761  

American Software, Inc., Class A

      22,768        226,086  

Appfolio, Inc., Class A(a)

     2,880        545,040  

Blackbaud, Inc.(a)

     18,096        1,361,543  

Blackline, Inc.(a)

     128,266        7,420,188  

Box, Inc., Class A(a)

     134,062        3,508,403  

Clear Secure, Inc., Class A

      87,762        1,871,964  

Clearwater Analytics Holdings, Inc., Class A(a)

     332,785        7,091,648  

Confluent, Inc., Class A(a)

     110,842        2,352,067  

CS Disco, Inc.(a)

     32,975        196,201  

CyberArk Software Ltd.(a)

     19,005        3,787,126  

Descartes Systems Group, Inc. (The)(a)

     158,910        12,878,066  

Dropbox, Inc., Class A(a)

     95,715        2,697,249  

E2open Parent Holdings, Inc.(a)

     281,588        1,024,980  

Ebix, Inc.

      39,000        153,660  

Elastic NV(a)

     30,434        2,445,676  

Envestnet, Inc.(a)

     24,935        948,278  

EverCommerce, Inc.(a)

     16,135        150,378  

Five9, Inc.(a)

     38,706        2,950,171  

Gitlab, Inc., Class A(a)

     22,853        1,104,714  

Guidewire Software, Inc.(a)

     10,993        1,098,640  

HashiCorp, Inc., Class A(a)

     112,899        2,418,297  

JFrog Ltd.(a)

     59,184        1,596,784  

Klaviyo, Inc.(a)

     44,811        1,327,750  

LiveRamp Holdings, Inc.(a)

     49,585        1,644,239  

MeridianLink, Inc.(a)

     36,865        701,172  

Model N, Inc.(a)

     229,270        5,261,747  

NCR Voyix Corp.(a)

     53,800        843,584  

Nutanix, Inc., Class A(a)

     69,685        3,002,727  

ON24, Inc.

      18,488        140,694  

PowerSchool Holdings, Inc., Class A(a)

     60,563        1,412,329  

Progress Software Corp.

      20,686        1,114,148  

PROS Holdings, Inc.(a)

     192,325        7,029,479  

Q2 Holdings, Inc.(a)

     108,965        3,870,437  

SecureWorks Corp., Class A(a)

     8,127        48,599  

SentinelOne, Inc., Class A(a)

     160,338        3,060,852  
Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Smartsheet, Inc., Class A(a)

     72,937        3,091,070  

SolarWinds Corp.(a)

     68,055        788,757  

SPS Commerce, Inc.(a)

     69,945        12,050,125  

Telos Corp.(a)

     244,900        1,006,539  

Upland Software, Inc.(a)

     97,209        458,827  

Vertex, Inc.(a)

     271,166        7,608,918  

Workiva, Inc., Class A(a)

     74,176        7,133,506  

Xperi, Inc.(a)

     58,246        601,099  
     

 

 

  

Total

         132,117,327  
     

 

 

  

Technology Hardware, Storage & Peripherals 0.7%

 

CPI Card Group, Inc.(a)

     33,400        594,186  

Quantum Corp.(a)

     37,013        11,078  

Super Micro Computer, Inc.(a)

     24,189        6,614,966  

Turtle Beach Corp.(a)

     27,931        315,899  

Xerox Holdings Corp.

      123,590        1,729,024  
     

 

 

  

Total

         9,265,153  
     

 

 

  

Total Information Technology

         215,265,996  
     

 

 

  

Materials 3.7%

      

Chemicals 1.8%

      

AdvanSix, Inc.

      35,100        917,163  

Alto Ingredients, Inc.(a)

     352,800        860,832  

American Vanguard Corp.

      21,100        197,918  

Avient Corp.

      43,847        1,506,145  

Balchem Corp.

      58,107        7,247,105  

Cabot Corp.

      34,302        2,603,522  

Core Molding Technologies, Inc.(a)

     20,537        369,461  

Ecovyst, Inc.(a)

     276,616        2,633,384  

Hawkins, Inc.

      7,000        430,080  

HB Fuller Co.

      21,421        1,621,141  

Ingevity Corp.(a)

     30,700        1,190,853  

Innospec, Inc.

      8,800        924,616  

Minerals Technologies, Inc.

      22,000        1,378,080  

NewMarket Corp.

      600        318,306  

Origin Materials, Inc.(a)

     254,068        173,452  

Rayonier Advanced Materials, Inc.(a)

     118,813        392,083  

Trinseo PLC

      334,659        1,934,329  

Valhi, Inc.

      1,968        26,725  
     

 

 

  

Total

         24,725,195  
     

 

 

  
 

 

Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023    13

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

 

Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Construction Materials 0.1%

      

Knife River Corp.(a)

     16,708        997,133  
     

 

 

  

Containers & Packaging 0.2%

      

Myers Industries, Inc.

      57,100        1,006,102  

O-I Glass, Inc.(a)

     81,775        1,206,999  

Ranpak Holdings Corp.(a)

     62,405        255,861  

TriMas Corp.

      33,400        856,042  
     

 

 

  

Total

         3,325,004  
     

 

 

  

Metals & Mining 1.4%

      

Alpha Metallurgical Resources, Inc.

      3,345        938,473  

ATI, Inc.(a)

     21,975        965,801  

Carpenter Technology Corp.

      23,800        1,685,278  

Compass Minerals International, Inc.

      38,000        922,640  

Constellium SE(a)

     89,446        1,556,360  

Kaiser Aluminum Corp.

      16,947        991,061  

Lifezone Metals Ltd.(a)

     22,800        222,528  

Materion Corp.

      16,387        1,853,534  

Olympic Steel, Inc.

      22,099        1,249,256  

Ramaco Resources, Inc., Class A

      22,312        372,610  

Ryerson Holding Corp.

      61,073        1,891,431  

Schnitzer Steel Industries, Inc., Class A

      42,050        1,077,742  

SunCoke Energy, Inc.

      82,273        765,962  

Tredegar Corp.

      180,913        850,291  

Warrior Met Coal, Inc.

      70,765        3,960,717  

Worthington Enterprises, Inc.

      3,900        279,630  
     

 

 

  

Total

              19,583,314  
     

 

 

  

Paper & Forest Products 0.2%

      

Clearwater Paper Corp.(a)

     24,156        847,151  

Louisiana-Pacific Corp.

      10,061        613,620  

Mercer International, Inc.

      129,000        1,235,820  

Sylvamo Corp.

      12,700        638,556  
     

 

 

  

Total

         3,335,147  
     

 

 

  

Total Materials

         51,965,793  
     

 

 

  

Real Estate 4.3%

      

Diversified REITs 0.1%

      

Armada Hoffler Properties, Inc.

      24,606        270,174  

Empire State Realty Trust, Inc., Class A

      165,100        1,479,296  
     

 

 

  

Total

         1,749,470  
     

 

 

  
Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Hotel & Resort REITs 1.1%

      

Apple Hospitality REIT, Inc.

      98,555        1,642,912  

Braemar Hotels & Resorts, Inc.

      286,700        602,070  

Chatham Lodging Trust

      43,669        432,760  

Park Hotels & Resorts, Inc.

      91,300        1,353,979  

Pebblebrook Hotel Trust

      120,084        1,531,071  

RLJ Lodging Trust

      357,562        3,822,338  

Sunstone Hotel Investors, Inc.

      307,849        3,041,548  

Xenia Hotels & Resorts, Inc.

      206,031        2,515,638  
     

 

 

  

Total

         14,942,316  
     

 

 

  

Industrial REITs 0.5%

      

First Industrial Realty Trust, Inc.

      28,697        1,350,194  

STAG Industrial, Inc.

      40,678        1,458,306  

Terreno Realty Corp.

      62,654        3,578,170  
     

 

 

  

Total

         6,386,670  
     

 

 

  

Office REITs 0.4%

      

Equity Commonwealth

      174,991        3,288,081  

Orion Office REIT, Inc.

      129,474        668,086  

SL Green Realty Corp.

      57,500        2,102,775  
     

 

 

  

Total

         6,058,942  
     

 

 

  

Real Estate Management & Development 1.6%

 

Compass, Inc.(a)

     231,083        513,004  

Cushman & Wakefield PLC(a)

     144,200        1,183,882  

DigitalBridge Group, Inc.

      88,600        1,529,236  

Douglas Elliman, Inc.

      357,812        697,733  

FirstService Corp.

      67,345        10,567,777  

Forestar Group, Inc.(a)

     39,548        1,207,401  

Kennedy-Wilson Holdings, Inc.

      41,841        474,895  

Marcus & Millichap, Inc.

      37,600        1,293,816  

Opendoor Technologies, Inc.(a)

     190,244        572,635  

RE/MAX Holdings, Inc., Class A

      211,669        1,947,355  

RMR Group, Inc. (The), Class A

      12,637        301,140  

Seritage Growth Properties, Class A(a)

     151,500        1,361,985  
     

 

 

  

Total

         21,650,859  
     

 

 

  

Residential REITs 0.0%

      

Centerspace

      7,989        426,133  
     

 

 

  
 

 

14    Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

 

Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Retail REITs 0.4%

      

Alexander’s, Inc.

      5,400        993,384  

Kite Realty Group Trust

      109,355        2,309,578  

Tanger, Inc.

      99,300        2,478,528  
     

 

 

  

Total

         5,781,490  
     

 

 

  

Specialized REITs 0.2%

      

CubeSmart

      47,081        1,871,940  

Rayonier, Inc.

      48,400        1,484,912  
     

 

 

  

Total

         3,356,852  
     

 

 

  

Total Real Estate

         60,352,732  
     

 

 

  

Utilities 1.9%

      

Electric Utilities 0.7%

      

Allete, Inc.

      23,600        1,309,328  

NRG Energy, Inc.

      54,614        2,612,734  

Otter Tail Corp.

      17,300        1,320,163  

PNM Resources, Inc.

      31,400        1,305,298  

Portland General Electric Co.

      74,794        3,071,041  
     

 

 

  

Total

         9,618,564  
     

 

 

  

Gas Utilities 0.6%

      

New Jersey Resources Corp.

      40,309        1,701,040  

Northwest Natural Holding Co.

      44,023        1,612,122  

ONE Gas, Inc.

      57,199        3,296,379  

Southwest Gas Holdings, Inc.

      21,900        1,294,509  

Spire, Inc.

      21,400        1,305,614  
     

 

 

  

Total

         9,209,664  
     

 

 

  

Independent Power and Renewable Electricity Producers 0.3%

 

Clearway Energy, Inc., Class C

      50,384        1,258,088  

Vistra Corp.

      82,246        2,912,331  
     

 

 

  

Total

         4,170,419  
     

 

 

  
Common Stocks (continued)              

Issuer

    Shares      Value ($)  

Multi-Utilities 0.3%

      

Avista Corp.

      38,500        1,307,075  

Black Hills Corp.

      25,400        1,310,386  

Northwestern Energy Group, Inc.

             25,900        1,303,029  
     

 

 

  

Total

         3,920,490  
     

 

 

  

Total Utilities

         26,919,137  
     

 

 

  

Total Common Stocks

(Cost $1,394,990,635)

         1,350,303,844  
     

 

 

  

 

Exchange-Traded Equity Funds 0.6%  
     Shares      Value ($)  

Sector 0.2%

      

SPDR S&P Biotech ETF

      39,420        2,976,998  
     

 

 

  

U.S. Small Cap 0.4%

      

iShares Russell 2000 Value ETF

      37,000        5,141,890  
     

 

 

  

Total Exchange-Traded Equity Funds

(Cost $7,872,904)

 

 

      8,118,888  
     

 

 

  
Money Market Funds 6.0%  

Columbia Short-Term Cash Fund, 5.605%(e),(f)

     83,238,581        83,221,934  
     

 

 

  

Total Money Market Funds

(Cost $83,221,933)

         83,221,934  
     

 

 

  

Total Investments in Securities

(Cost: $1,486,085,472)

         1,441,644,666  
     

 

 

  

Other Assets & Liabilities, Net

         (48,220,782 ) 
     

 

 

  

Net Assets

         1,393,423,884  
     

 

 

  
 

 

Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023    15

PORTFOLIO OF INVESTMENTS (continued)

Multi-Manager Small Cap Equity Strategies Fund, November 30, 2023 (Unaudited)

 

Notes to Portfolio of Investments

 

(a)

Non-income producing investment.

(b)

Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At November 30, 2023, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets.

(c)

Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. These securities are valued at fair value determined in good faith under consistently applied procedures approved by the Fund’s Board of Trustees. At November 30, 2023, the total market value of these securities amounted to $0, which represents less than 0.01% of total net assets. Additional information on these securities is as follows:

 

Security

    Acquisition
Dates		      Shares      Cost ($)      Value ($)  

Clementia Pharmaceuticals, Inc.

      04/23/2019        134,864        —          —    

 

(d)

Valuation based on significant unobservable inputs.

(e)

The rate shown is the seven-day current annualized yield at November 30, 2023.

(f)

As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended November 30, 2023 are as follows:

 

Affiliated issuers

    Beginning
of period($)		      Purchases($)      Sales($)     Net change in
unrealized
appreciation
(depreciation)($)		     End of
period($)		      Realized gain
(loss)($)		      Dividends($)      End of
period shares		  

Columbia Short-Term Cash Fund, 5.605%

      23,214,851        149,025,858        (89,017,919 )      (856 )      83,221,934        2,943        329,102        83,238,581  

Abbreviation Legend

 

ADR

American Depositary Receipt

Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.

 

16    Multi-Manager Small Cap Equity Strategies Fund | First Quarter Report 2023

[THIS PAGE INTENTIONALLY LEFT BLANK]

 

You may at any time request, free of charge, to receive a paper copy of this report by calling 800.345.6611.

1QT102_08_P01_(01/24)