BOSTON PARTNERS INVESTMENT FUNDS
|
||||||||
WPG PARTNERS SMALL/MICRO CAP VALUE FUND
|
||||||||
PORTFOLIO OF INVESTMENTS
|
||||||||
MAY 31, 2022 (UNAUDITED)
|
||||||||
NUMBER OF
|
||||||||
SHARES
|
VALUE
|
|||||||
COMMON STOCKS—95.8%
|
||||||||
Communication Services—0.4%
|
||||||||
Altice USA, Inc., Class A*(a)
|
12,013
|
$
|
136,708
|
|||||
Consumer Discretionary—9.0%
|
||||||||
American Axle & Manufacturing Holdings, Inc.*(a)
|
21,801
|
176,806
|
||||||
BJ's Restaurants, Inc.*
|
11,097
|
291,518
|
||||||
Century Communities, Inc.(a)
|
3,099
|
168,492
|
||||||
Dana, Inc.
|
17,678
|
292,748
|
||||||
Designer Brands, Inc., Class A(a)
|
21,988
|
341,474
|
||||||
Goodyear Tire & Rubber Co. (The)*
|
50,251
|
649,243
|
||||||
H&R Block, Inc.(a)
|
2,505
|
88,276
|
||||||
Latham Group, Inc.*
|
42,343
|
402,682
|
||||||
Monro Muffler Brake, Inc.(a)
|
3,535
|
167,630
|
||||||
Poshmark, Inc., Class A*
|
24,191
|
264,408
|
||||||
RealReal, Inc., (The)*
|
21,946
|
71,983
|
||||||
Universal Electronics, Inc.*
|
7,490
|
200,732
|
||||||
|
3,115,992
|
|||||||
Consumer Staples—2.1%
|
||||||||
Dole PLC
|
16,379
|
167,721
|
||||||
Nomad Foods Ltd.*
|
9,222
|
192,463
|
||||||
Sovos Brands, Inc.*
|
14,476
|
204,401
|
||||||
Spectrum Brands Holdings, Inc.(a)
|
2,036
|
178,639
|
||||||
743,224
|
||||||||
Energy—12.2%
|
||||||||
Chesapeake Energy Corp.
|
5,408
|
526,631
|
||||||
Delek US Holdings, Inc.*
|
11,654
|
339,831
|
||||||
Euronav NV*(a)
|
34,443
|
440,870
|
||||||
Green Plains, Inc.*(a)
|
13,127
|
427,678
|
||||||
Liberty Energy, Inc.*
|
23,488
|
382,150
|
||||||
Nabors Industries Ltd.*
|
1,196
|
199,457
|
||||||
National Energy Services Reunited Corp.*
|
25,759
|
192,162
|
||||||
NexTier Oilfield Solutions, Inc.*
|
40,060
|
436,654
|
||||||
Northern Oil and Gas, Inc.(a)
|
7,286
|
238,179
|
||||||
Scorpio Tankers, Inc.
|
9,968
|
329,442
|
||||||
SM Energy Co.
|
15,204
|
733,897
|
||||||
4,246,951
|
||||||||
Financials—18.8%
|
||||||||
Ameris Bancorp
|
7,781
|
354,736
|
||||||
Axis Capital Holdings Ltd.
|
6,511
|
381,349
|
||||||
BankUnited, Inc.(a)
|
8,208
|
341,945
|
||||||
Blucora, Inc.*
|
24,465
|
432,786
|
||||||
Essent Group Ltd.
|
13,742
|
588,020
|
||||||
First Foundation, Inc.
|
22,237
|
501,444
|
||||||
First Interstate BancSystem, Inc., Class A
|
8,979
|
341,831
|
||||||
Hanover Insurance Group, Inc., (The)
|
1,460
|
214,036
|
||||||
HomeStreet, Inc.
|
6,264
|
252,502
|
||||||
Ladder Capital Corp.
|
18,879
|
218,241
|
||||||
National Bank Holdings Corp., Class A(a)
|
11,064
|
450,858
|
||||||
Popular, Inc.
|
8,550
|
698,621
|
||||||
Premier Financial Corp.
|
15,331
|
416,543
|
||||||
Sculptor Capital Management, Inc.
|
23,218
|
279,080
|
||||||
Triumph Bancorp, Inc.*
|
2,432
|
176,904
|
||||||
Washington Trust Bancorp, Inc.(a)
|
6,184
|
310,437
|
||||||
Webster Financial Corp.
|
11,987
|
588,442
|
||||||
6,547,775
|
||||||||
Health Care—3.7%
|
||||||||
Innoviva, Inc.*
|
15,757
|
239,034
|
||||||
Lantheus Holdings, Inc.*
|
2,619
|
179,454
|
||||||
MEDNAX, Inc.*
|
9,539
|
184,293
|
||||||
Natus Medical, Inc.*
|
5,566
|
182,509
|
||||||
Pacira BioSciences, Inc.*
|
7,749
|
490,124
|
||||||
|
1,275,414
|
|||||||
Industrials—21.5%
|
||||||||
ABM Industries, Inc.
|
5,762
|
278,593
|
||||||
AerCap Holdings NV*
|
1,766
|
87,311
|
||||||
Allison Transmission Holdings, Inc.
|
2,222
|
88,902
|
||||||
Altra Industrial Motion Corp.
|
16,579
|
650,063
|
||||||
Argan, Inc.
|
9,509
|
380,265
|
||||||
Astec Industries, Inc.
|
5,450
|
254,896
|
||||||
Beacon Roofing Supply, Inc.*(a)
|
2,424
|
148,858
|
||||||
BrightView Holdings, Inc.*
|
16,671
|
216,723
|
||||||
Hillman Solutions Corp.*
|
13,843
|
157,949
|
||||||
ICF International, Inc.
|
3,964
|
405,160
|
||||||
JetBlue Airways Corp.*(a)
|
11,376
|
122,178
|
||||||
KBR, Inc.(a)
|
12,555
|
624,737
|
||||||
Kirby Corp.*(a)
|
9,559
|
645,519
|
||||||
Knight-Swift Transportation Holdings, Inc., Class A(a)
|
9,694
|
471,516
|
||||||
Marten Transport Ltd.
|
10,092
|
177,215
|
||||||
Matthews International Corp., Class A
|
5,531
|
178,983
|
||||||
Maxar Technologies, Inc.
|
23,389
|
698,396
|
||||||
Spirit AeroSystems Holdings, Inc., Class A
|
13,209
|
415,027
|
||||||
Sun Country Airlines Holdings, Inc.*(a)
|
10,844
|
256,461
|
||||||
Tutor Perini Corp.*
|
35,225
|
357,181
|
||||||
Univar Solutions, Inc.*
|
28,486
|
875,090
|
||||||
7,491,023
|
||||||||
Information Technology—4.8%
|
||||||||
Axcelis Technologies, Inc.*
|
1,993
|
123,686
|
||||||
Celestica, Inc.*
|
23,009
|
253,789
|
||||||
JFrog Ltd.*
|
4,270
|
79,636
|
||||||
Mirion Technologies, Inc.*
|
11,045
|
88,360
|
||||||
Momentive Global, Inc.*
|
7,147
|
87,050
|
||||||
NetScout Systems, Inc.*
|
1,176
|
40,372
|
||||||
Rambus, Inc.*
|
26,471
|
664,422
|
||||||
SMART Global Holdings, Inc.*
|
12,864
|
317,098
|
||||||
|
1,654,413
|
|||||||
Materials—11.7%
|
||||||||
Allegheny Technologies, Inc.*(a)
|
5,608
|
154,220
|
||||||
Capstone Mining Corp.*
|
61,676
|
233,568
|
||||||
Carpenter Technology Corp.(a)
|
4,026
|
141,836
|
||||||
Chemours Co., (The)(a)
|
9,676
|
416,939
|
||||||
Commercial Metals Co.(a)
|
5,102
|
202,702
|
||||||
Constellium SE*
|
11,593
|
195,806
|
||||||
Livent Corp.*
|
7,287
|
231,654
|
||||||
Mosaic Co., (The)
|
2,719
|
170,345
|
||||||
O-I Glass, Inc.*
|
8,458
|
139,134
|
||||||
Perimeter Solutions SA*(a)
|
12,092
|
132,407
|
||||||
Piedmont Lithium, Inc.*
|
2,625
|
169,995
|
||||||
Schweitzer-Mauduit International, Inc.
|
8,420
|
228,350
|
||||||
Stelco Holdings, Inc.
|
5,031
|
156,119
|
||||||
Summit Materials, Inc., Class A*
|
4,240
|
115,794
|
||||||
Tronox Holdings PLC, Class A
|
32,465
|
584,695
|
||||||
Valvoline, Inc.
|
17,587
|
588,461
|
||||||
Warrior Met Coal, Inc.
|
5,959
|
200,342
|
||||||
4,062,367
|
||||||||
Real Estate—7.3%
|
||||||||
Apple Hospitality REIT, Inc.(a)
|
47,271
|
789,898
|
||||||
Brixmor Property Group, Inc.
|
25,156
|
613,303
|
||||||
Compass, Inc., Class A*(a)
|
31,603
|
185,194
|
||||||
Getty Realty Corp.(a)
|
11,548
|
322,651
|
||||||
RMR Group, Inc., Class A, (The)
|
5,958
|
178,859
|
||||||
UMH Properties, Inc.
|
23,163
|
456,080
|
||||||
2,545,985
|
||||||||
Utilities—4.3%
|
||||||||
ALLETE, Inc.
|
5,450
|
338,009
|
||||||
Avista Corp.(a)
|
4,717
|
204,906
|
||||||
Black Hills Corp.
|
2,429
|
186,207
|
||||||
Portland General Electric Co.(a)
|
3,095
|
152,429
|
||||||
South Jersey Industries, Inc.
|
11,402
|
397,360
|
||||||
Spire, Inc.
|
2,603
|
203,815
|
||||||
1,482,726
|
||||||||
TOTAL COMMON STOCKS
|
||||||||
(Cost $28,065,801)
|
33,302,578
|
|||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING COLLATERAL—19.7%
|
||||||||
Mount Vernon Liquid Assets Portfolio, LLC, 0.92%(b)
|
6,859,001
|
6,859,001
|
||||||
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING COLLATERAL
|
||||||||
(Cost $6,859,001)
|
6,859,001
|
|||||||
SHORT-TERM INVESTMENTS—3.3%
|
||||||||
U.S. Bank Money Market Deposit Account, 0.50%(b)
|
1,137,210
|
1,137,210
|
||||||
TOTAL SHORT-TERM INVESTMENTS
|
||||||||
(Cost $1,137,210)
|
1,137,210
|
|||||||
TOTAL INVESTMENTS—118.8%
|
||||||||
(Cost $36,062,012)
|
41,298,789
|
|||||||
LIABILITIES IN EXCESS OF OTHER ASSETS—(18.8)%
|
(6,534,085
|
)
|
||||||
NET ASSETS—100.0%
|
$
|
34,764,704
|
PLC
|
Public Limited Company
|
|||||
*
|
Non-income producing.
|
|||||
(a)
|
All or a portion of the security is on loan. At May 31, 2022, the market value of securities on loan was $6,609,282.
|
|||||
(b)
|
The rate shown is as of May 31, 2022.
|
|||||
Industry classifications may be different than those used for compliance monitoring purposes.
|
BOSTON PARTNERS INVESTMENT FUNDS
|
|
WPG PARTNERS SMALL/MICRO CAP VALUE FUND
|
|
NOTES TO PORTFOLIO OF INVESTMENTS
|
|
MAY 31, 2022 (UNAUDITED)
|
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 May 31, 2022, in valuing the Fund's investments carried at fair value:
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
INVESTMENTS MEASURED AT NET ASSET VALUE*
|
||||||||||||||||
Common Stock
|
||||||||||||||||||||
Communication Services
|
$
|
136,708
|
$
|
136,708
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||||||
Consumer Discretionary
|
3,115,992
|
3,115,992
|
-
|
-
|
-
|
|||||||||||||||
Consumer Staples
|
743,224
|
743,224
|
-
|
-
|
-
|
|||||||||||||||
Energy
|
4,246,951
|
4,246,951
|
-
|
-
|
-
|
|||||||||||||||
Financials
|
6,547,775
|
6,547,775
|
-
|
-
|
-
|
|||||||||||||||
Health Care
|
1,275,414
|
1,275,414
|
-
|
-
|
-
|
|||||||||||||||
Industrials
|
7,491,023
|
7,491,023
|
-
|
-
|
-
|
|||||||||||||||
Information Technology
|
1,654,413
|
1,654,413
|
-
|
-
|
-
|
|||||||||||||||
Materials
|
4,062,367
|
4,062,367
|
-
|
-
|
-
|
|||||||||||||||
Real Estate
|
2,545,985
|
2,545,985
|
-
|
-
|
-
|
|||||||||||||||
Utilities
|
1,482,726
|
1,482,726
|
-
|
-
|
-
|
|||||||||||||||
Investments Purchased with Proceeds from Securities Lending Collateral
|
6,859,001
|
-
|
-
|
-
|
6,859,001
|
|||||||||||||||
Short-Term Investments
|
1,137,210
|
1,137,210
|
-
|
-
|
-
|
|||||||||||||||
Total Assets
|
$
|
41,298,789
|
$
|
34,439,788
|
$
|
-
|
$
|
-
|
$
|
6,859,001
|
||||||||||
For the period ended May 31, 2022, 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.
|