BOSTON PARTNERS INVESTMENT FUNDS
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WPG PARTNERS SELECT SMALL CAP VALUE FUND
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PORTFOLIO OF INVESTMENTS
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MAY 31, 2023 (UNAUDITED)
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NUMBER OF
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||||||||
SHARES
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VALUE
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|||||||
COMMON STOCKS—94.4%
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||||||||
Communication Services—4.5%
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||||||||
Cars.com, Inc.*
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58,232
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$
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1,027,795
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|||||
Ooma, Inc.*
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99,502
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1,325,367
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||||||
Vimeo, Inc.*
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509,935
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1,871,461
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||||||
4,224,623
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||||||||
Consumer Discretionary—2.6%
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||||||||
Gildan Activewear, Inc.
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44,887
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1,224,068
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||||||
Valvoline, Inc.
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30,329
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1,167,667
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2,391,735
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Consumer Staples—7.3%
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Adecoagro SA
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316,968
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2,770,300
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TreeHouse Foods, Inc.*
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84,905
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4,020,252
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||||||
6,790,552
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||||||||
Energy—4.9%
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Green Plains, Inc.*
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68,746
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1,993,634
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Kosmos Energy Ltd.*
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249,508
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1,487,068
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SM Energy Co.
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42,056
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1,105,652
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4,586,354
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Financials—16.0%
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Axis Capital Holdings Ltd.
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46,100
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2,392,590
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Encore Capital Group, Inc.*
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10,515
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452,881
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EZCORP, Inc., Class A*
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267,706
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2,232,668
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Federal Agricultural Mortgage Corp., Class C
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7,279
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974,003
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||||||
Kemper Corp.
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74,003
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3,202,850
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NMI Holdings, Inc., Class A*
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93,009
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2,339,176
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Perella Weinberg Partners
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157,293
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1,231,604
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Popular, Inc.
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35,936
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2,054,821
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||||||
14,880,593
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Health Care—12.6%
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||||||||
Augmedix, Inc.*
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99,480
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368,076
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Enovis Corp.*
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65,311
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3,443,849
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Innoviva, Inc.*
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111,610
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1,505,619
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Pacira BioSciences, Inc.*
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29,520
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1,122,645
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Pennant Group, Inc., (The)*
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103,505
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1,242,060
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Sight Sciences, Inc.*
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219,988
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2,109,685
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Syneos Health, Inc.*
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45,696
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1,900,954
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11,692,888
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Industrials—23.8%
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Air Lease Corp.
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71,927
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2,734,665
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||||||
Arcosa, Inc.
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60,004
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3,939,863
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Hillman Solutions Corp.*
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93,789
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759,691
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ICF International, Inc.
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16,176
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1,811,550
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KBR, Inc.
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39,630
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2,338,963
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Kirby Corp.*
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18,394
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1,316,275
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Leonardo DRS, Inc.*
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173,483
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2,619,593
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Manitowoc Co., Inc., (The)*
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65,107
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934,285
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Univar Solutions, Inc.*
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81,282
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2,895,265
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V2X, Inc.*
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44,078
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1,818,217
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XPO, Inc.*
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19,815
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929,918
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||||||
22,098,285
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||||||||
Information Technology—10.3%
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||||||||
LiveRamp Holdings, Inc.*
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51,762
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1,259,887
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Momentive Global, Inc.*
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246,007
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2,324,766
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NetScout Systems, Inc.*
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76,451
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2,333,284
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ON24, Inc.
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167,821
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1,340,890
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Rambus, Inc.*
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11,900
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761,124
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SmartRent, Inc.*
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416,855
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1,500,678
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9,520,629
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Materials—8.6%
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||||||||
Axalta Coating Systems Ltd.*
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65,310
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1,894,643
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Ecovyst, Inc.*
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147,602
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1,481,924
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ERO Copper Corp.*
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54,188
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895,728
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Tronox Holdings PLC
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351,863
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3,743,822
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8,016,117
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Real Estate—3.8%
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Equity Commonwealth
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170,652
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3,489,833
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TOTAL COMMON STOCKS
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(Cost $83,433,712)
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87,691,609
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SHORT-TERM INVESTMENTS—4.8%
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Tri-State Deposit, 4.95%(a)
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3,900,000
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3,900,000
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U.S. Bank Money Market Deposit Account, 5.00%(a)
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536,967
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536,967
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||||||
TOTAL SHORT-TERM INVESTMENTS
|
||||||||
(Cost $4,436,967)
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4,436,967
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|||||||
TOTAL INVESTMENTS—99.2%
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||||||||
(Cost $87,870,679)
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92,128,576
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|||||||
OTHER ASSETS IN EXCESS OF LIABILITIES—0.8%
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730,284
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|||||||
NET ASSETS—100.0%
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$
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92,858,860
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PLC
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Public Limited Company
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|||||
*
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Non-income producing.
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(a)
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The rate shown is as of May 31, 2023.
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The above industry classifications are based upon the The Global Industry Classification Standard (“GICS”®). GICS was
developed by and is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI and S&P and has been licensed for use.
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Industry classifications may be different than those used for compliance monitoring purposes.
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BOSTON PARTNERS INVESTMENT FUNDS
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WPG PARTNERS SELECT SMALL CAP VALUE FUND
|
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NOTES TO PORTFOLIO OF INVESTMENTS
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MAY 31, 2023 (UNAUDITED)
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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:
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|||||
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|||||
• Level 1 — Prices are determined using quoted prices in active markets for identical securities.
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• Level 2 — Prices are determined using other significant observable inputs (including quoted prices for similar securities,
interest rates, prepayment speeds, credit risk, etc.).
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• Level 3 — Prices are determined using significant unobservable inputs (including the Fund’s own assumptions in determining the
fair value of investments).
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The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in
those securities.
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The following is a summary of the inputs used, as of May 31, 2023, in valuing the Fund's investments carried at fair value:
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TOTAL
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LEVEL 1
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LEVEL 2
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LEVEL 3
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Common Stock
|
||||||||||||||||
Communication Services
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$
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4,224,623
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$
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4,224,623
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$
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-
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$
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-
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Consumer Discretionary
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2,391,735
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2,391,735
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-
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-
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Consumer Staples
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6,790,552
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6,790,552
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-
|
-
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Energy
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4,586,354
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4,586,354
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-
|
-
|
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Financials
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14,880,593
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14,880,593
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-
|
-
|
||||||||||||
Health Care
|
11,692,888
|
11,692,888
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-
|
-
|
||||||||||||
Industrials
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22,098,285
|
22,098,285
|
-
|
-
|
||||||||||||
Information Technology
|
9,520,629
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9,520,629
|
-
|
-
|
||||||||||||
Materials
|
8,016,117
|
8,016,117
|
-
|
-
|
||||||||||||
Real Estate
|
3,489,833
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3,489,833
|
-
|
-
|
||||||||||||
Short-Term Investments
|
4,436,967
|
536,967
|
3,900,000
|
-
|
||||||||||||
Total Assets
|
$
|
92,128,576
|
$
|
88,228,576
|
$
|
3,900,000
|
$
|
-
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For the period ended May 31, 2023, the Fund had no significant Level 3 transfers.
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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.
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