International Value - Schedule of Investments | |||||
AUGUST 31, 2020 (UNAUDITED) |
Shares/ Principal Amount ($) | Value ($) | |||||||
COMMON STOCKS — 93.2% | ||||||||
Australia — 6.6% | ||||||||
AGL Energy Ltd. | 38,140 | 412,692 | ||||||
Aristocrat Leisure Ltd. | 17,307 | 354,725 | ||||||
Australia & New Zealand Banking Group Ltd. | 27,005 | 357,048 | ||||||
BHP Group Ltd. | 17,421 | 480,016 | ||||||
BlueScope Steel Ltd. | 8,188 | 75,177 | ||||||
Commonwealth Bank of Australia | 6,776 | 335,937 | ||||||
Fortescue Metals Group Ltd. | 51,739 | 657,178 | ||||||
National Australia Bank Ltd. | 9,905 | 128,569 | ||||||
Santos Ltd. | 9,726 | 39,857 | ||||||
Westpac Banking Corp. | 11,193 | 142,748 | ||||||
Woodside Petroleum Ltd. | 11,132 | 158,361 | ||||||
3,142,308 | ||||||||
Austria — 0.1% | ||||||||
Raiffeisen Bank International AG(1) | 2,676 | 47,864 | ||||||
Belgium — 0.9% | ||||||||
Ageas SA/NV | 6,573 | 276,539 | ||||||
KBC Group NV | 2,471 | 141,696 | ||||||
Telenet Group Holding NV | 400 | 15,547 | ||||||
433,782 | ||||||||
Denmark — 0.6% | ||||||||
Novo Nordisk A/S, B Shares | 1,230 | 81,323 | ||||||
Pandora A/S | 2,772 | 201,712 | ||||||
283,035 | ||||||||
Finland — 1.5% | ||||||||
Fortum Oyj | 4,327 | 91,414 | ||||||
Kone Oyj, B Shares | 7,431 | 637,629 | ||||||
729,043 | ||||||||
France — 9.9% | ||||||||
BNP Paribas SA(1) | 13,737 | 598,589 | ||||||
Bouygues SA(1) | 4,285 | 169,884 | ||||||
CNP Assurances(1) | 10,724 | 143,446 | ||||||
Covivio | 1,569 | 116,191 | ||||||
Eiffage SA(1) | 2,685 | 247,256 | ||||||
L'Oreal SA | 910 | 301,035 | ||||||
Legrand SA | 5,408 | 450,870 | ||||||
Peugeot SA(1) | 16,680 | 286,225 | ||||||
Publicis Groupe SA(1) | 7,692 | 269,409 | ||||||
Safran SA(1) | 2,148 | 248,461 | ||||||
Sanofi | 3,200 | 324,062 | ||||||
Schneider Electric SE | 1,900 | 235,617 | ||||||
Societe Generale SA(1) | 4,800 | 77,636 | ||||||
TOTAL SE | 20,415 | 807,738 | ||||||
Valeo SA | 10,916 | 333,137 | ||||||
Vinci SA | 1,275 | 119,467 | ||||||
4,729,023 | ||||||||
Germany — 9.6% | ||||||||
adidas AG(1) | 556 | 168,333 | ||||||
Allianz SE | 2,910 | 630,233 |
Aroundtown SA(1) | 8,717 | 47,716 | ||||||
Bayer AG | 1,746 | 115,366 | ||||||
Brenntag AG | 7,485 | 468,938 | ||||||
Commerzbank AG(1) | 11,926 | 69,301 | ||||||
Continental AG | 4,071 | 443,600 | ||||||
Daimler AG | 2,798 | 142,625 | ||||||
Deutsche Boerse AG | 1,496 | 282,782 | ||||||
Deutsche Post AG | 3,700 | 167,786 | ||||||
GEA Group AG | 7,801 | 284,522 | ||||||
Hannover Rueck SE | 708 | 120,569 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG | 2,189 | 628,802 | ||||||
Porsche Automobil Holding SE, Preference Shares(1) | 2,389 | 146,211 | ||||||
Siemens AG | 4,244 | 585,753 | ||||||
Telefonica Deutschland Holding AG | 102,199 | 282,658 | ||||||
4,585,195 | ||||||||
Hong Kong — 1.7% | ||||||||
BOC Hong Kong Holdings Ltd. | 32,500 | 91,440 | ||||||
Hang Seng Bank Ltd. | 17,100 | 267,944 | ||||||
Hong Kong Exchanges & Clearing Ltd. | 2,000 | 100,541 | ||||||
Sands China Ltd. | 84,800 | 373,224 | ||||||
833,149 | ||||||||
Italy — 2.4% | ||||||||
Enel SpA | 28,587 | 259,255 | ||||||
Ferrari NV | 2,942 | 573,112 | ||||||
Tenaris SA | 50,885 | 298,965 | ||||||
1,131,332 | ||||||||
Japan — 21.0% | ||||||||
ABC-Mart, Inc. | 1,700 | 89,394 | ||||||
Astellas Pharma, Inc. | 27,000 | 423,747 | ||||||
Brother Industries Ltd. | 13,300 | 219,668 | ||||||
Chugai Pharmaceutical Co. Ltd. | 3,000 | 133,765 | ||||||
Fast Retailing Co. Ltd. | 100 | 59,567 | ||||||
Hino Motors Ltd. | 14,000 | 93,127 | ||||||
Honda Motor Co. Ltd. | 4,700 | 120,067 | ||||||
Hoya Corp. | 800 | 78,570 | ||||||
ITOCHU Corp. | 2,000 | 51,295 | ||||||
KDDI Corp. | 20,400 | 591,584 | ||||||
LIXIL Group Corp. | 6,900 | 126,347 | ||||||
Mitsubishi Chemical Holdings Corp. | 16,300 | 95,093 | ||||||
Mitsubishi Electric Corp. | 7,600 | 104,349 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 48,400 | 201,509 | ||||||
Nexon Co. Ltd. | 10,000 | 234,791 | ||||||
Nintendo Co. Ltd. | 1,000 | 534,904 | ||||||
Nitori Holdings Co. Ltd. | 2,300 | 480,473 | ||||||
NTT DOCOMO, Inc. | 20,400 | 569,506 | ||||||
Obayashi Corp. | 34,200 | 332,866 | ||||||
Ono Pharmaceutical Co. Ltd. | 1,700 | 51,283 | ||||||
ORIX Corp. | 13,800 | 170,378 | ||||||
Recruit Holdings Co. Ltd. | 9,100 | 343,646 | ||||||
Sekisui House Ltd. | 25,800 | 509,131 | ||||||
Shin-Etsu Chemical Co. Ltd. | 2,100 | 253,741 | ||||||
Shionogi & Co. Ltd. | 8,100 | 449,296 | ||||||
Showa Denko KK | 4,000 | 77,799 | ||||||
Softbank Corp. | 16,900 | 221,821 |
SoftBank Group Corp. | 7,800 | 484,371 | ||||||
Sony Corp. | 6,000 | 469,513 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 12,800 | 375,428 | ||||||
Tokyo Electron Ltd. | 1,700 | 433,418 | ||||||
Toyota Motor Corp. | 12,300 | 812,895 | ||||||
Trend Micro, Inc. | 4,900 | 302,806 | ||||||
Tsuruha Holdings, Inc. | 1,300 | 173,590 | ||||||
Welcia Holdings Co. Ltd. | 8,800 | 376,795 | ||||||
10,046,533 | ||||||||
Netherlands — 2.8% | ||||||||
ING Groep NV(1) | 26,683 | 217,066 | ||||||
Koninklijke Ahold Delhaize NV | 11,787 | 354,985 | ||||||
Koninklijke DSM NV | 1,031 | 165,566 | ||||||
NN Group NV | 9,747 | 366,891 | ||||||
Randstad NV | 4,751 | 247,422 | ||||||
1,351,930 | ||||||||
New Zealand — 0.2% | ||||||||
a2 Milk Co. Ltd.(1) | 9,512 | 118,778 | ||||||
Norway — 0.4% | ||||||||
Aker BP ASA | 8,520 | 168,926 | ||||||
Singapore — 2.3% | ||||||||
DBS Group Holdings Ltd. | 25,000 | 382,743 | ||||||
Oversea-Chinese Banking Corp. Ltd. | 57,600 | 366,459 | ||||||
United Overseas Bank Ltd. | 24,400 | 350,225 | ||||||
1,099,427 | ||||||||
Spain — 4.7% | ||||||||
ACS Actividades de Construccion y Servicios SA | 3,484 | 85,464 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 81,421 | 240,647 | ||||||
Banco Santander SA | 50,749 | 113,992 | ||||||
CaixaBank SA | 93,046 | 206,264 | ||||||
Enagas SA | 3,835 | 93,855 | ||||||
Endesa SA | 12,085 | 335,283 | ||||||
Iberdrola SA | 66,667 | 840,156 | ||||||
Industria de Diseno Textil SA | 5,862 | 164,630 | ||||||
Mapfre SA | 37,262 | 70,568 | ||||||
Telefonica SA | 20,150 | 79,728 | ||||||
2,230,587 | ||||||||
Sweden — 2.7% | ||||||||
Hennes & Mauritz AB, B Shares | 4,407 | 70,371 | ||||||
Industrivarden AB, C Shares(1) | 12,458 | 328,558 | ||||||
Investor AB, B Shares | 8,291 | 529,101 | ||||||
Kinnevik AB, Class B(2) | 6,658 | 256,955 | ||||||
Kinnevik AB, Class B - Redemption Shares(1)(2) | 6,658 | 5,350 | ||||||
Lundin Energy AB | 4,616 | 112,735 | ||||||
1,303,070 | ||||||||
Switzerland — 6.7% | ||||||||
Geberit AG | 885 | 509,483 | ||||||
Kuehne + Nagel International AG(1) | 3,152 | 610,157 | ||||||
Novartis AG | 7,467 | 643,648 | ||||||
Partners Group Holding AG | 330 | 334,873 | ||||||
Roche Holding AG | 622 | 217,375 | ||||||
UBS Group AG | 9,016 | 109,751 | ||||||
Zurich Insurance Group AG | 2,109 | 780,296 | ||||||
3,205,583 | ||||||||
United Kingdom — 19.1% | ||||||||
3i Group plc | 22,162 | 277,883 | ||||||
Admiral Group plc | 12,855 | 452,922 | ||||||
Aviva plc | 130,092 | 491,617 | ||||||
BAE Systems plc | 3,310 | 22,990 | ||||||
Barclays plc(1) | 86,558 | 130,937 | ||||||
BHP Group plc | 30,758 | 692,769 | ||||||
BP plc | 55,957 | 195,250 | ||||||
British American Tobacco plc | 17 | 579 | ||||||
Burberry Group plc | 5,238 | 101,800 | ||||||
Direct Line Insurance Group plc | 84,623 | 335,795 | ||||||
Evraz plc | 101,627 | 440,425 | ||||||
Ferguson plc | 5,259 | 518,531 | ||||||
GlaxoSmithKline plc | 52,676 | 1,036,579 | ||||||
HSBC Holdings plc | 39,944 | 176,061 | ||||||
JD Sports Fashion plc | 11,130 | 107,985 | ||||||
Legal & General Group plc | 176,759 | 519,233 | ||||||
M&G plc | 97,906 | 226,415 | ||||||
Next plc | 4,550 | 367,244 | ||||||
RELX plc | 3,002 | 68,320 | ||||||
Rio Tinto plc | 16,317 | 1,000,654 | ||||||
Royal Dutch Shell plc, B Shares | 56,938 | 801,995 | ||||||
Sage Group plc (The) | 30,866 | 306,048 | ||||||
St. James's Place plc | 17,282 | 226,351 | ||||||
Standard Life Aberdeen plc | 95,233 | 301,962 | ||||||
Vodafone Group plc | 215,845 | 318,483 | ||||||
9,118,828 | ||||||||
TOTAL COMMON STOCKS (Cost $43,869,477) | 44,558,393 | |||||||
EXCHANGE-TRADED FUNDS — 2.7% | ||||||||
iShares MSCI EAFE Value ETF(2) (Cost $1,218,604) | 30,196 | 1,268,232 | ||||||
TEMPORARY CASH INVESTMENTS — 3.0% | ||||||||
Repurchase Agreement, BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 0.125% - 2.375%, 6/30/22 - 4/30/26, valued at $635,710), in a joint trading account at 0.05%, dated 8/31/20, due 9/1/20 (Delivery value $623,053) | 623,052 | |||||||
Repurchase Agreement, Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 4.75%, 2/15/37, valued at $847,692), at 0.05%, dated 8/31/20, due 9/1/20 (Delivery value $831,001) | 831,000 | |||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 829 | 829 | ||||||
TOTAL TEMPORARY CASH INVESTMENTS (Cost $1,454,881) | 1,454,881 | |||||||
TEMPORARY CASH INVESTMENTS - SECURITIES LENDING COLLATERAL(3) — 2.3% | ||||||||
State Street Navigator Securities Lending Government Money Market Portfolio (Cost $1,100,178) | 1,100,178 | 1,100,178 | ||||||
TOTAL INVESTMENT SECURITIES — 101.2% (Cost $47,643,140) | 48,381,684 | |||||||
OTHER ASSETS AND LIABILITIES — (1.2)% | (578,053) | |||||||
TOTAL NET ASSETS — 100.0% | $ | 47,803,631 |
FUTURES CONTRACTS PURCHASED | ||||||||||||||
Reference Entity | Contracts | Expiration Date | Notional Amount | Unrealized Appreciation (Depreciation) ^ | ||||||||||
MSCI EAFE Index | 7 | September 2020 | $665,035 | $41,259 |
MARKET SECTOR DIVERSIFICATION | |||||
(as a % of net assets) | |||||
Financials | 27.1% | ||||
Industrials | 14.0% | ||||
Consumer Discretionary | 13.3% | ||||
Materials | 8.3% | ||||
Communication Services | 7.6% | ||||
Health Care | 7.5% | ||||
Energy | 5.4% | ||||
Utilities | 4.4% | ||||
Consumer Staples | 2.7% | ||||
Information Technology | 2.6% | ||||
Real Estate | 0.3% | ||||
Exchange-Traded Funds | 2.7% | ||||
Cash and Equivalents* | 4.1% |
NOTES TO SCHEDULE OF INVESTMENTS |
Level 1 ($) | Level 2 ($) | Level 3 ($) | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Common Stocks | — | 44,558,393 | — | ||||||||
Exchange-Traded Funds | 1,268,232 | — | — | ||||||||
Temporary Cash Investments | 829 | 1,454,052 | — | ||||||||
Temporary Cash Investments - Securities Lending Collateral | 1,100,178 | — | — | ||||||||
2,369,239 | 46,012,445 | — | |||||||||
Other Financial Instruments | |||||||||||
Futures Contracts | 41,259 | — | — |