International Value Fund - Schedule of Investments | ||
FEBRUARY 29, 2024 (UNAUDITED) |
Shares | Value ($) | |||||||
COMMON STOCKS — 97.3% | ||||||||
Australia — 6.9% | ||||||||
ANZ Group Holdings Ltd. | 564,700 | 10,467,085 | ||||||
BHP Group Ltd. | 1,073,626 | 30,776,896 | ||||||
BlueScope Steel Ltd. | 461,993 | 6,870,056 | ||||||
Dexus | 913,667 | 4,375,396 | ||||||
Fortescue Ltd. | 788,780 | 13,313,034 | ||||||
Origin Energy Ltd. | 1,241,909 | 7,255,126 | ||||||
Rio Tinto Ltd.(1) | 30,295 | 2,439,623 | ||||||
Scentre Group | 1,981,894 | 4,011,076 | ||||||
Sonic Healthcare Ltd. | 394,466 | 7,654,918 | ||||||
South32 Ltd. | 1,984,886 | 3,802,397 | ||||||
Westpac Banking Corp. | 60,976 | 1,046,302 | ||||||
Woodside Energy Group Ltd. | 595,607 | 11,750,602 | ||||||
103,762,511 | ||||||||
Austria — 1.3% | ||||||||
Erste Group Bank AG | 467,287 | 18,683,611 | ||||||
Belgium — 1.3% | ||||||||
Ageas SA | 256,228 | 10,889,579 | ||||||
UCB SA | 78,404 | 9,046,210 | ||||||
19,935,789 | ||||||||
Canada — 2.5% | ||||||||
Great-West Lifeco, Inc.(1) | 295,438 | 9,099,442 | ||||||
Manulife Financial Corp.(1) | 472,312 | 11,209,645 | ||||||
Nutrien Ltd. | 76,389 | 3,987,324 | ||||||
Power Corp. of Canada | 462,565 | 13,364,163 | ||||||
37,660,574 | ||||||||
Denmark — 0.8% | ||||||||
AP Moller - Maersk AS, B Shares | 8,572 | 12,164,892 | ||||||
Finland — 0.7% | ||||||||
Nokia OYJ | 1,587,386 | 5,595,682 | ||||||
UPM-Kymmene OYJ | 146,328 | 4,897,507 | ||||||
10,493,189 | ||||||||
France — 11.2% | ||||||||
ArcelorMittal SA | 41,894 | 1,092,821 | ||||||
AXA SA | 270,446 | 9,628,390 | ||||||
BNP Paribas SA | 218,819 | 13,133,515 | ||||||
Cie de Saint-Gobain SA | 295,510 | 22,781,041 | ||||||
Credit Agricole SA | 844,868 | 11,458,821 | ||||||
Engie SA | 1,147,040 | 18,405,841 | ||||||
Gecina SA(1) | 84,513 | 8,163,249 | ||||||
L'Oreal SA | 15,759 | 7,527,584 | ||||||
Publicis Groupe SA | 150,892 | 15,965,202 | ||||||
Sanofi SA | 284,185 | 27,086,960 | ||||||
Societe Generale SA | 574,392 | 13,949,471 | ||||||
TotalEnergies SE | 303,858 | 19,367,650 | ||||||
168,560,545 | ||||||||
Germany — 7.6% | ||||||||
Allianz SE | 78,674 | 21,608,234 | ||||||
BASF SE | 370,738 | 18,884,279 | ||||||
Bayerische Motoren Werke AG | 45,646 | 5,399,378 |
Commerzbank AG | 708,078 | 8,196,656 | ||||||
E.ON SE | 1,562,756 | 19,955,294 | ||||||
Evonik Industries AG | 119,614 | 2,207,977 | ||||||
Fresenius SE & Co. KGaA | 223,197 | 6,250,668 | ||||||
Henkel AG & Co. KGaA, Preference Shares | 44,044 | 3,313,597 | ||||||
RWE AG | 168,103 | 5,631,004 | ||||||
Siemens AG | 113,555 | 22,480,348 | ||||||
113,927,435 | ||||||||
Hong Kong — 2.0% | ||||||||
BOC Hong Kong Holdings Ltd. | 1,596,000 | 4,193,025 | ||||||
CK Asset Holdings Ltd. | 1,583,000 | 7,281,830 | ||||||
CK Hutchison Holdings Ltd. | 2,081,500 | 10,513,824 | ||||||
Link REIT | 435,100 | 2,157,490 | ||||||
Sun Hung Kai Properties Ltd. | 598,000 | 6,017,238 | ||||||
30,163,407 | ||||||||
Italy — 5.6% | ||||||||
Assicurazioni Generali SpA | 533,876 | 12,663,009 | ||||||
Enel SpA | 1,431,212 | 9,106,871 | ||||||
Intesa Sanpaolo SpA | 8,323,451 | 26,505,247 | ||||||
Mediobanca Banca di Credito Finanziario SpA | 556,301 | 7,577,967 | ||||||
Stellantis NV | 1,030,242 | 26,950,713 | ||||||
UniCredit SpA | 22,906 | 767,227 | ||||||
83,571,034 | ||||||||
Japan — 23.5% | ||||||||
Astellas Pharma, Inc. | 255,700 | 2,794,482 | ||||||
Canon, Inc.(1) | 419,600 | 12,271,128 | ||||||
Dai-ichi Life Holdings, Inc. | 168,500 | 3,835,760 | ||||||
Daiwa House Industry Co. Ltd. | 195,900 | 5,656,504 | ||||||
Dentsu Group, Inc. | 96,900 | 2,684,681 | ||||||
Honda Motor Co. Ltd. | 2,244,000 | 26,664,464 | ||||||
Inpex Corp. | 1,193,600 | 15,909,148 | ||||||
ITOCHU Corp.(1) | 548,000 | 23,805,628 | ||||||
Japan Post Bank Co. Ltd. | 680,000 | 7,250,639 | ||||||
Japan Post Holdings Co. Ltd. | 893,600 | 8,624,295 | ||||||
JFE Holdings, Inc. | 135,800 | 2,227,162 | ||||||
KDDI Corp. | 270,300 | 8,171,645 | ||||||
Marubeni Corp. | 812,400 | 13,463,090 | ||||||
Mitsubishi Chemical Group Corp. | 707,500 | 4,059,874 | ||||||
Mitsubishi Corp. | 1,688,100 | 36,208,960 | ||||||
Mitsubishi Electric Corp. | 658,200 | 10,483,797 | ||||||
Mitsui & Co. Ltd. | 586,800 | 25,773,747 | ||||||
Mizuho Financial Group, Inc. | 687,200 | 12,838,328 | ||||||
MS&AD Insurance Group Holdings, Inc. | 468,800 | 23,426,979 | ||||||
Nintendo Co. Ltd. | 16,700 | 933,200 | ||||||
NIPPON EXPRESS HOLDINGS, Inc. | 95,700 | 5,059,335 | ||||||
Nippon Yusen KK(1) | 560,800 | 17,859,488 | ||||||
Otsuka Holdings Co. Ltd. | 186,800 | 7,579,690 | ||||||
Sompo Holdings, Inc. | 37,000 | 2,169,156 | ||||||
Sumitomo Corp. | 388,800 | 9,127,437 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 310,900 | 17,321,641 | ||||||
Takeda Pharmaceutical Co. Ltd. | 207,500 | 6,068,582 | ||||||
Tokyo Gas Co. Ltd. | 270,900 | 5,929,507 | ||||||
Toyota Motor Corp. | 1,028,400 | 24,770,467 | ||||||
Toyota Tsusho Corp. | 145,100 | 9,400,082 | ||||||
352,368,896 | ||||||||
Netherlands — 2.8% | ||||||||
ABN AMRO Bank NV, CVA | 92,731 | 1,492,882 | ||||||
ASR Nederland NV | 37,022 | 1,708,741 | ||||||
ING Groep NV | 879,689 | 12,106,140 | ||||||
Koninklijke Ahold Delhaize NV | 438,420 | 13,056,959 | ||||||
Randstad NV | 246,507 | 13,595,856 | ||||||
41,960,578 | ||||||||
Norway — 2.0% | ||||||||
DNB Bank ASA | 82,874 | 1,659,445 | ||||||
Equinor ASA | 334,289 | 8,236,470 | ||||||
Norsk Hydro ASA | 1,753,519 | 9,000,377 | ||||||
Telenor ASA | 199,929 | 2,186,803 | ||||||
Yara International ASA | 282,184 | 8,781,314 | ||||||
29,864,409 | ||||||||
Singapore — 0.6% | ||||||||
Wilmar International Ltd. | 3,861,400 | 9,536,107 | ||||||
Spain — 3.9% | ||||||||
Banco Bilbao Vizcaya Argentaria SA | 2,699,332 | 26,923,894 | ||||||
Banco Santander SA | 2,590,215 | 10,794,682 | ||||||
Endesa SA | 387,623 | 6,981,134 | ||||||
Iberdrola SA | 275,496 | 3,164,113 | ||||||
Repsol SA | 449,736 | 7,144,083 | ||||||
Telefonica SA | 870,614 | 3,571,759 | ||||||
58,579,665 | ||||||||
Sweden — 1.4% | ||||||||
H & M Hennes & Mauritz AB, B Shares | 906,920 | 12,315,105 | ||||||
Volvo AB, B Shares | 299,030 | 8,239,330 | ||||||
20,554,435 | ||||||||
Switzerland — 3.7% | ||||||||
Avolta AG(2) | 78,060 | 3,053,018 | ||||||
Novartis AG | 401,528 | 40,513,164 | ||||||
Roche Holding AG | 37,517 | 9,809,234 | ||||||
Sandoz Group AG(2) | 86,156 | 2,665,063 | ||||||
56,040,479 | ||||||||
United Kingdom — 19.5% | ||||||||
3i Group PLC | 262,179 | 8,191,273 | ||||||
abrdn PLC | 2,401,940 | 4,783,205 | ||||||
Barclays PLC | 10,253,998 | 21,430,902 | ||||||
Barratt Developments PLC | 2,444,118 | 14,420,551 | ||||||
BP PLC | 4,899,745 | 28,467,827 | ||||||
Glencore PLC | 2,548,110 | 12,114,038 | ||||||
GSK PLC | 442,557 | 9,257,602 | ||||||
HSBC Holdings PLC | 3,464,313 | 26,965,413 | ||||||
J Sainsbury PLC | 2,296,860 | 7,250,783 | ||||||
Kingfisher PLC | 3,503,967 | 10,391,346 | ||||||
Land Securities Group PLC | 769,307 | 6,027,073 | ||||||
Legal & General Group PLC | 3,541,512 | 10,858,434 | ||||||
Lloyds Banking Group PLC | 10,245,664 | 6,057,992 | ||||||
NatWest Group PLC | 5,268,004 | 15,928,330 | ||||||
Rio Tinto PLC | 251,568 | 16,138,173 | ||||||
Schroders PLC | 273,530 | 1,363,304 | ||||||
Shell PLC | 964,442 | 29,830,009 | ||||||
St. James's Place PLC | 745,354 | 4,745,938 | ||||||
Standard Chartered PLC | 1,038,564 | 8,781,020 | ||||||
Taylor Wimpey PLC | 6,844,349 | 11,927,952 |
Tesco PLC | 5,202,312 | 18,348,725 | ||||||
Vodafone Group PLC | 13,076,725 | 11,486,696 | ||||||
WPP PLC | 973,968 | 8,713,610 | ||||||
293,480,196 | ||||||||
TOTAL COMMON STOCKS (Cost $1,253,185,507) | 1,461,307,752 | |||||||
SHORT-TERM INVESTMENTS — 5.7% | ||||||||
Money Market Funds — 2.5% | ||||||||
State Street Navigator Securities Lending Government Money Market Portfolio(3) | 38,099,297 | 38,099,297 | ||||||
Repurchase Agreements — 3.2% | ||||||||
BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 3.625% - 3.875%, 9/30/29 - 2/15/53, valued at $4,083,435), in a joint trading account at 5.27%, dated 2/29/24, due 3/1/24 (Delivery value $3,980,656) | 3,980,073 | |||||||
Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 4.625%, 9/15/26, valued at $35,862,238), at 5.28%, dated 2/29/24, due 3/1/24 (Delivery value $35,164,157) | 35,159,000 | |||||||
TD Securities (USA) LLC, (collateralized by various U.S. Treasury obligations, 2.625% - 3.875%, 5/31/27 - 9/30/29, valued at $9,506,829), at 5.28%, dated 2/29/24, due 3/1/24 (Delivery value $9,320,367) | 9,319,000 | |||||||
48,458,073 | ||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $86,557,370) | 86,557,370 | |||||||
TOTAL INVESTMENT SECURITIES — 103.0% (Cost $1,339,742,877) | 1,547,865,122 | |||||||
OTHER ASSETS AND LIABILITIES — (3.0)% | (45,482,313) | |||||||
TOTAL NET ASSETS — 100.0% | $ | 1,502,382,809 |
MARKET SECTOR DIVERSIFICATION | |||||
(as a % of net assets) | |||||
Financials | 29.5% | ||||
Industrials | 16.0% | ||||
Materials | 9.4% | ||||
Consumer Discretionary | 9.1% | ||||
Health Care | 8.6% | ||||
Energy | 8.0% | ||||
Utilities | 5.1% | ||||
Consumer Staples | 3.9% | ||||
Communication Services | 3.6% | ||||
Real Estate | 2.9% | ||||
Information Technology | 1.2% | ||||
Short-Term Investments | 5.7% | ||||
Other Assets and Liabilities | (3.0)% |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
CVA | – | Certificaten Van Aandelen |
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Common Stocks | — | $ | 1,461,307,752 | — | |||||||
Short-Term Investments | $ | 38,099,297 | 48,458,073 | — | |||||||
$ | 38,099,297 | $ | 1,509,765,825 | — |