BOSTON PARTNERS INVESTMENT FUNDS
BOSTON PARTNERS GLOBAL EQUITY ADVANTAGE FUND
PORTFOLIO OF INVESTMENTS
NOVEMBER 30, 2021 (UNAUDITED)
	NUMBER OF
	SHARES		VALUE
COMMON STOCKS—81.5%
Bermuda—1.3%
Everest Re Group Ltd.		2,073	$	531,476
Canada—2.1%
Canadian National Railway Co.		2,965		375,280
Cenovus Energy, Inc.		40,551		481,235
				856,515
Finland—1.4%
Metso Outotec Oyj		20,711		208,722
Nordea Bank Abp		29,646		351,097
				559,819
France—8.9%
Airbus Group SE*		3,205		357,741
Capgemini SA		2,427		560,323
Cie de Saint-Gobain		6,115		387,871
Cie Generale des Etablissements Michelin SCA		1,113		164,245
Eiffage SA		4,569		425,540
Imerys SA		5,189		202,293
Klepierre SA*		9,305		195,802
Rexel SA*		21,295		390,387
Sanofi		6,264		595,468
TotalEnergies SE		7,651		352,042
				3,631,712
Germany—3.7%
Brenntag SE		1,989		170,358
Deutsche Post AG		5,076		299,795
Deutsche Telekom AG		9,320		164,150
Rheinmetall AG		4,287		380,132
Siemens AG		3,098		493,868
				1,508,303
Ireland—1.4%
CRH PLC		6,067		294,166
Flutter Entertainment PLC*		2,108		286,077
				580,243
Japan—5.8%
Asahi Group Holdings Ltd.		4,200		154,898
Fuji Corp.		9,900		216,082
Fuji Electric Co., Ltd.		4,700		244,681
Hitachi Ltd.		6,400		374,900
Honda Motor Co., Ltd.		11,700		320,402
Komatsu Ltd.		7,200		162,886
Sony Group Corp.		3,500		427,031
Sumitomo Mitsui Financial Group, Inc.		5,500		178,942
Yamaha Motor Co., Ltd.		11,400		286,693
				2,366,515
Netherlands—3.6%
Aalberts NV		2,746		168,865
ING Groep NV		31,256		431,751
NXP Semiconductors NV		957		213,755
Signify NV		3,055		139,469
Stellantis NV		29,759		509,599
				1,463,439
Norway—0.2%
Norsk Hydro ASA		16,649		107,820
Singapore—1.1%
DBS Group Holdings Ltd.		7,467		162,651
United Overseas Bank Ltd.		15,500		290,100
				452,751
South Korea—2.4%
KB Financial Group, Inc.		9,525		423,319
POSCO		588		129,099
Samsung Electronics Co., Ltd.		3,026		181,639
SK Square Co., Ltd.*		1,963		112,380
SK Telecom Co., Ltd.		3,037		139,053
				985,490
Sweden—2.7%
Loomis AB		9,265		239,448
Svenska Handelsbanken AB, Class A		36,161		382,582
Volvo AB, Class B		21,924		472,015
				1,094,045
Switzerland—3.3%
Glencore PLC*		125,167		594,266
Novartis AG		5,429		432,722
STMicroelectronics NV		6,274		305,554
				1,332,542
United Kingdom—6.0%
Coca-Cola Europacific Partners PLC		3,483		171,956
IMI PLC		10,718		242,467
Inchcape PLC		14,913		164,420
Liberty Global PLC, Class A*		16,895		446,028
Melrose Industries PLC		124,173		238,562
Nomad Foods Ltd.*		9,221		220,290
Persimmon PLC		5,432		197,402
Tesco PLC		62,395		230,141
Travis Perkins PLC*		20,806		399,978
WH Smith PLC*		7,019		123,392
				2,434,636
United States—37.6%
AbbVie, Inc.		4,005		461,696
Anthem, Inc.		921		374,138
Applied Materials, Inc.		1,718		252,872
AutoZone, Inc.*		153		278,012
Axalta Coating Systems Ltd.*		5,903		178,979
Bank of America Corp.		5,783		257,170
Carter's, Inc.		3,632		366,941
Charles Schwab Corp., (The)		3,185		246,487
Charter Communications, Inc., Class A*		625		403,925
Cigna Corp.		2,394		459,409
Cisco Systems, Inc.		9,185		503,705
Citigroup, Inc.		2,445		155,746
Concentrix Corp.		2,649		439,734
CVS Health Corp.		6,185		550,836
Diamondback Energy, Inc.		4,716		503,339
Discover Financial Services		2,582		278,469
DuPont de Nemours, Inc.		7,912		585,172
Eagle Materials, Inc.		1,167		179,975
Eaton Corp., PLC		1,718		278,419
Fifth Third Bancorp		9,093		383,270
Global Payments, Inc.		1,052		125,230
Goldman Sachs Group, Inc., (The)		1,434		546,340
HollyFrontier Corp.		9,786		316,284
Huntington Bancshares, Inc.		17,526		260,086
JPMorgan Chase & Co.		2,505		397,869
KeyCorp		21,237		476,558
LKQ Corp.		9,267		518,025
Marathon Petroleum Corp.		5,367		326,582
McKesson Corp.		2,184		473,404
Merck & Co., Inc.		3,243		242,933
Micron Technology, Inc.		3,140		263,760
Mohawk Industries, Inc.*		816		136,982
Nexstar Media Group, Inc., Class A		3,233		483,333
NortonLifeLock, Inc.		17,107		425,109
Owens Corning		4,533		384,580
Pioneer Natural Resources Co.		1,447		258,029
QUALCOMM, Inc.		1,381		249,353
Schlumberger Ltd.		9,051		259,583
Science Applications International Corp.		2,915		244,539
Sensata Technologies Holding PLC*		5,701		317,546
Synchrony Financial		9,967		446,422
TE Connectivity Ltd.		1,860		286,310
Textron, Inc.		3,790		268,332
US Foods Holding Corp.*		4,803		150,910
Valvoline, Inc.		10,407		354,566
				15,350,959
TOTAL COMMON STOCKS
(Cost $26,621,452)				33,256,265
PREFERRED STOCKS—0.3%
South Korea—0.3%
Samsung Electronics Co., Ltd. 4.720%		2,210		119,177
TOTAL PREFERRED STOCKS
(Cost $76,134)				119,177
INVESTMENT COMPANY—17.5%
United States—17.5%
Campbell Advantage Fund		1,214,956		7,156,091
TOTAL INVESTMENT COMPANY
(Cost $7,599,686)				7,156,091
SHORT-TERM INVESTMENTS—0.6%
U.S. Bank Money Market Deposit Account, 0.01%(a)		257,405		257,405
TOTAL SHORT-TERM INVESTMENTS
(Cost $257,405)				257,405
TOTAL INVESTMENTS—99.9%
(Cost $34,554,677)				40,788,938
OTHER ASSETS IN EXCESS OF LIABILITIES—0.1%				20,662
NET ASSETS—100.0%			$	40,809,600

PLC	Public Limited Company
*	Non-income producing.
(a)	The rate shown is as of  November 30, 2021.

BOSTON PARTNERS INVESTMENT FUNDS

BOSTON PARTNERS GLOBAL EQUITY ADVANTAGE FUND

NOTES TO PORTFOLIO OF INVESTMENTS

NOVEMBER 30, 2021 (UNAUDITED)

PORTFOLIO VALUATION — The Boston Partners Global Equity Advantage Fund's (the "Fund") net asset value (“NAV”) is calculated once daily at the close of regular trading hours on the New York Stock Exchange (“NYSE”) (generally 4:00 p.m. Eastern time) on each day the NYSE is open. Securities held by the Fund are valued using the closing price or the last sale price on a national securities exchange or the National Association of Securities Dealers Automatic Quotation System (“NASDAQ”) market system where they are primarily traded. Equity securities traded in the over-the-counter ("OTC") market are valued at their closing prices.  If there were no transactions on that day, securities traded principally on an exchange or on NASDAQ will be valued at the mean of the last bid and ask prices prior to the market close. Fixed income securities are valued using an independent pricing service, which considers such factors as security prices, yields, maturities and ratings, and are deemed representative of market values at the close of the market.  Foreign securities are valued based on prices from the primary market in which they are traded, and are translated from the local currency into U.S. dollars using current exchange rates.  Investments in other open-end investment companies, if any, are valued based on the NAV of the investment companies (which may use fair value pricing as disclosed in their prospectuses). Options for which the primary market is a national securities exchange are valued at the last sale price on the exchange on which they are traded, or, in the absence of any sale, will be valued at the mean of the last bid and ask prices prior to the market close.  Options not traded on a national securities exchange are valued at the last quoted bid price for long option positions and the closing ask price for short option positions. If market quotations are unavailable or deemed unreliable, securities will be valued in accordance with procedures adopted by the Company’s Board of Directors (the “Board”). Relying on prices supplied by pricing services or dealers or using fair valuation may result in values that are higher or lower than the values used by other investment companies and investors to price the same investments. Such procedures use fundamental valuation methods, which may include, but are not limited to, an analysis of the effect of any restrictions on the resale of the security, industry analysis and trends, significant changes in the issuer’s financial position, and any other event which could have a significant impact on the value of the security. Determination of fair value involves subjective judgment as the actual market value of a particular security can be established only by negotiations between the parties in a sales transaction, and the difference between the recorded fair value and the value that would be received in a sale could be significant. The Fund may use fair value pricing more frequently for securities traded primarily in non-U.S. markets because, among other things, most foreign markets close well before the Fund values its securities, generally as of 4:00 p.m. Eastern time. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, government actions or pronouncements, aftermarket trading, or news events may have occurred in the interim.  To account for this, the Fund may value foreign securities using fair value prices based on third-party vendor modeling tools (international fair value pricing).

FAIR VALUE MEASUREMENTS — The inputs and valuation techniques used to measure fair value of the Fund’s investments are summarized into three levels as described in the hierarchy below:

• Level 1 — Prices are determined using quoted prices in active markets for identical securities.

• Level 2 — Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

• Level 3 — Prices are determined using significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used, as of November 30, 2021, in valuing the Fund's investments carried at fair value:

	TOTAL		LEVEL 1		LEVEL 2		LEVEL 3
Common Stock
Bermuda	$	531,476	$	531,476	$	-	$	-
Canada		856,515		856,515		-		-
Finland		559,819		-		559,819		-
France		3,631,712		-		3,631,712		-
Germany		1,508,303		-		1,508,303		-
Ireland		580,243		-		580,243		-
Japan		2,366,515		-		2,366,515		-
Netherlands		1,463,439		213,755		1,249,684		-
Norway		107,820		-		107,820		-
Singapore		452,751		-		452,751		-
South Korea		985,490		251,433		734,057		-
Sweden		1,094,045		239,448		854,597		-
Switzerland		1,332,542		-		1,332,542		-
United Kingdom		2,434,636		1,245,161		1,189,475		-
United States		15,350,959		15,350,959		-		-
Preferred Stock
South Korea		119,177		-		119,177		-
Investment Company
United States		7,156,091		7,156,091		-		-
Short-Term Investments		257,405		257,405		-		-
Total Assets	$	40,788,938	$	26,102,243	$	14,686,695	$	-

At the end of each quarter, management evaluates the classification of Levels 1, 2 and 3 assets and liabilities. Various factors are considered, such as changes in liquidity from the prior reporting period; whether or not a broker is willing to execute at the quoted price; the depth and consistency of prices from third party pricing services; and  the existence of contemporaneous, observable trades in the market. Additionally, management evaluates the classification of Level 1, 2 and 3 assets and liabilities on a quarterly basis for changes in listings or delistings on national exchanges.

Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Fund’s investments may fluctuate from period to period. Additionally, the fair value of investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values the Fund may ultimately realize. Further, such investments may be subject to legal and other restrictions on resale or otherwise less liquid than publicly traded securities.

For fair valuations using significant unobservable inputs, U.S. generally accepted accounting principles (“U.S. GAAP”) requires the Fund to present a reconciliation of the beginning to ending balances for reported market values that presents changes attributable to total realized and unrealized gains or losses, purchase and sales, and transfers in and out of Level 3 during the period. Transfers in and out between levels are based on values at the end of the period.  A reconciliation of Level 3 investments is presented only when the Fund had an amount of Level 3 investments at the end of the reporting period that was meaningful in relation to its net assets. The amounts and reasons for all Level 3 transfers are disclosed if the Fund had an amount of total Level 3 transfers during the reporting period that was meaningful in relation to its net assets as of the end of the reporting period.

For the period ended November 30, 2021, the Fund had no significant Level 3 transfers.

For more information with regard to significant accounting policies, see the most recent semi-annual or annual report filed with the Securities and Exchange Commission.