Schedule of Investments

July 31, 2022 (Unaudited)

 

LSV Value Equity Fund

  
        Shares           Value (000)    

Common Stock (99.5%)

 

  

Aerospace & Defense (2.0%)

 

  

Curtiss-Wright

       44,700     $ 6,412  

Huntington Ingalls Industries

     26,500       5,746  

L3Harris Technologies

     22,800       5,471  

Lockheed Martin

     30,100       12,456  

Textron

     88,400       5,803  
   

 

 

  
      35,888  
   

 

 

  

Agricultural Products (0.4%)

 

  

Ingredion

     76,700       6,978  
   

 

 

  

Air Freight & Logistics (1.2%)

 

  

FedEx

     91,530       21,335  
   

 

 

  

Aircraft (0.7%)

 

  

Delta Air Lines*

     179,900       5,721  

JetBlue Airways*

     109,300       920  

United Airlines Holdings*

     159,000       5,843  
   

 

 

  
      12,484  
   

 

 

  

Apparel Retail (0.3%)

 

  

Foot Locker

     204,400       5,799  
   

 

 

  

Apparel, Accessories & Luxury Goods (0.7%)

 

Carter’s

     79,100       6,445  

Hanesbrands

     450,900       5,041  
   

 

 

  
      11,486  
   

 

 

  

Asset Management & Custody Banks (2.5%)

 

Ameriprise Financial

     60,700       16,384  

Bank of New York Mellon

     338,400       14,707  

State Street

     170,700       12,127  
   

 

 

  
      43,218  
   

 

 

  

Automotive (2.9%)

 

  

American Axle &

    

Manufacturing Holdings*

     755,300       6,730  

BorgWarner

     154,200       5,931  

Ford Motor

     979,700       14,391  

General Motors*

     323,600       11,734  

Goodyear Tire & Rubber*

     486,300       5,972  

Lear

     44,700       6,756  
   

 

 

  
      51,514  
   

 

 

  

Automotive Retail (0.4%)

 

  

Group 1 Automotive

     36,000         6,369  
   

 

 

  

Banks (5.4%)

 

  

Bank of America

     282,600       9,555  

Citizens Financial Group

     320,700       12,177  

Fifth Third Bancorp

     273,400       9,328  

First Horizon National

     185,400       4,146  

Huntington Bancshares

     440,400       5,853  

KeyCorp

     515,900       9,441  

LSV Value Equity Fund

  
        Shares           Value (000)    

Banks (continued)

 

  

Popular

       68,600     $ 5,328  

Regions Financial

     494,600       10,476  

Wells Fargo

     427,500       18,754  

Zions Bancorp

     186,000       10,146  
   

 

 

  
      95,204  
   

 

 

  

Biotechnology (3.0%)

 

  

Amgen

     72,000       17,818  

Biogen*

     26,800       5,764  

Gilead Sciences

     338,900       20,248  

United Therapeutics*

     38,100       8,804  
   

 

 

  
      52,634  
   

 

 

  

Broadcasting (0.9%)

 

  

Fox

     374,600       12,403  

Paramount Global, Cl B

     162,800       3,850  
   

 

 

  
      16,253  
   

 

 

  

Building & Construction (1.4%)

 

Owens Corning

     101,000       9,367  

PulteGroup

     210,700       9,191  

TRI Pointe Homes*

     326,100       6,039  
   

 

 

  
      24,597  
   

 

 

  

Chemicals (2.7%)

 

  

Chemours

     195,000       6,940  

Dow

     182,100       9,689  

Eastman Chemical

     91,700       8,796  

Huntsman

     302,300       8,755  

Ingevity*

     87,600       5,878  

LyondellBasell Industries, Cl A

     81,200       7,237  
   

 

 

  
      47,295  
   

 

 

  

Commercial Printing (0.2%)

 

  

Deluxe

     165,400         4,158  
   

 

 

  

Commercial Services (0.4%)

 

  

Western Union

     366,100       6,231  
   

 

 

  

Commodity Chemicals (0.2%)

 

  

Trinseo

     109,300       3,910  
   

 

 

  

Computer & Electronics Retail (0.6%)

 

Best Buy

     99,400       7,653  

Rent-A-Center, Cl A

     120,400       2,833  
   

 

 

  
      10,486  
   

 

 

  

Computers & Services (3.8%)

 

Amdocs

     120,300       10,473  

DXC Technology*

     207,400       6,554  

eBay

     159,500       7,756  

Hewlett Packard Enterprise

     625,500       8,907  

HP

     510,700       17,053  

Oracle

     131,600       10,244  
 

 

1

Schedule of Investments

July 31, 2022 (Unaudited)

 

LSV Value Equity Fund

  
        Shares           Value (000)    

Computers & Services (continued)

 

  

Xerox Holdings

     290,800     $ 4,981  
   

 

 

  
      65,968  
   

 

 

  

Construction & Engineering (0.4%)

 

  

EMCOR Group

       53,200       6,191  
   

 

 

  

Consumer Discretionary (0.2%)

 

  

Central Garden & Pet, Cl A*

     101,500       4,141  
   

 

 

  

Consumer Finance (0.3%)

 

  

OneMain Holdings, Cl A

     146,800       5,461  
   

 

 

  

Drug Retail (0.5%)

    

Walgreens Boots Alliance

     217,700       8,625  
   

 

 

  

Electric Utilities (0.6%)

    

NRG Energy

     293,800       11,091  
   

 

 

  

Electrical Components & Equipment (0.4%)

 

Energizer Holdings

     215,000       6,349  
   

 

 

  

Electrical Services (0.7%)

 

  

Vistra

     447,500       11,568  
   

 

 

  

Financial Services (4.9%)

 

  

Ally Financial

     282,100       9,329  

Capital One Financial

     117,500       12,905  

Citigroup

     483,300       25,084  

Discover Financial Services

     86,100       8,696  

Goldman Sachs Group

     43,200       14,402  

Lazard, Cl A

     186,800       7,037  

Navient

     486,000       8,004  
   

 

 

  
      85,457  
   

 

 

  

Food, Beverage & Tobacco (3.5%)

 

  

Altria Group

     138,200       6,061  

Conagra Brands

     194,600       6,657  

JM Smucker

     76,800       10,162  

Molson Coors Beverage, Cl B

     321,300       19,199  

Tyson Foods, Cl A

     211,500       18,614  
   

 

 

  
      60,693  
   

 

 

  

Forest Products (0.4%)

    

Louisiana-Pacific

     102,200         6,503  
   

 

 

  

Gas/Natural Gas (0.2%)

    

UGI

     66,840       2,885  
   

 

 

  

General Merchandise Stores (0.7%)

 

  

Big Lots

     118,415       2,391  

Target

     55,500       9,067  
   

 

 

  
      11,458  
   

 

 

  

LSV Value Equity Fund

  
        Shares           Value (000)    

Health Care Distributors (1.6%)

 

  

Cardinal Health

     162,400     $ 9,673  

McKesson

       55,900       19,094  
   

 

 

  
      28,767  
   

 

 

  

Health Care Facilities (1.4%)

 

  

HCA Healthcare

     45,800       9,729  

Select Medical Holdings

     245,200       7,263  

Universal Health Services, Cl B

     72,900       8,199  
   

 

 

  
      25,191  
   

 

 

  

Health Care REIT’s (0.1%)

 

  

Industrial Logistics Properties Trust

     99,900       1,002  
   

 

 

  

Health Care Services (2.4%)

 

  

Cigna

     59,700       16,439  

CVS Health

     171,600       16,419  

DaVita*

     109,000       9,173  
   

 

 

  
      42,031  
   

 

 

  

Homefurnishing Retail (0.2%)

 

  

Sleep Number*

     85,500         3,853  
   

 

 

  

Hotel & Resort REIT’s (0.1%)

 

  

Service Properties Trust

     262,429       1,716  
   

 

 

  

Household Products, Furniture & Fixtures (0.7%)

 

Whirlpool

     74,400       12,862  
   

 

 

  

Human Resource & Employment Services (0.4%)

 

ManpowerGroup

     92,400       7,245  
   

 

 

  

Industrial Machinery (1.6%)

 

  

Crane Holdings

     70,400       6,965  

Hillenbrand

     172,500       7,969  

Mueller Industries

     102,200       6,881  

Snap-on

     30,400       6,811  
   

 

 

  
      28,626  
   

 

 

  

Insurance (6.4%)

    

Aflac

     167,400       9,592  

Allstate

     108,000       12,633  

American Equity Investment Life Holding

     103,390       3,883  

American Financial Group

     50,300       6,724  

American International Group

     251,200       13,005  

CNO Financial Group

     278,100       5,214  

Hartford Financial Services Group

     192,900       12,436  

Lincoln National

     141,000       7,239  

MetLife

     226,400       14,320  

MGIC Investment

     484,200       6,847  

Principal Financial Group

     100,400       6,721  
 

 

2

Schedule of Investments

July 31, 2022 (Unaudited)

 

LSV Value Equity Fund

  
        Shares           Value (000)    

Insurance (continued)

    

Prudential Financial

       88,200     $ 8,819  

Voya Financial

     82,800       4,981  
   

 

 

  
      112,414  
   

 

 

  

Interactive Media & Services (0.3%)

 

Meta Platforms, Cl A*

     35,680       5,677  
   

 

 

  

Investment Banking & Brokerage (1.1%)

 

Jefferies Financial Group

     223,000       7,263  

Morgan Stanley

     144,400       12,173  
   

 

 

  
      19,436  
   

 

 

  

IT Consulting & Other Services (0.8%)

 

International Business Machines

     113,200       14,805  
   

 

 

  

Leasing & Renting (0.6%)

 

  

Triton International

     161,900       10,375  
   

 

 

  

Machinery (2.1%)

    

AGCO

     91,100       9,923  

Allison Transmission Holdings

     278,100       11,644  

Cummins

     70,200       15,536  
   

 

 

  
      37,103  
   

 

 

  

Media & Entertainment (1.1%)

 

  

AMC Networks, Cl A*

     130,900       3,995  

Comcast, Cl A

     344,600       12,930  

TEGNA

     112,950       2,365  
   

 

 

  
      19,290  
   

 

 

  

Metal & Glass Containers (1.3%)

 

Berry Global Group*

     152,200       8,774  

O-I Glass, Cl I*

     482,700       7,101  

Silgan Holdings

     157,600       7,013  
   

 

 

  
      22,888  
   

 

 

  

Mortgage REITs (0.3%)

 

  

Annaly Capital Management

     844,500       5,810  
   

 

 

  

Motorcycle Manufacturers (0.5%)

 

Harley-Davidson

     229,000       8,658  
   

 

 

  

Movies & Entertainment (0.2%)

 

Warner Bros Discovery*

     281,407       4,221  
   

 

 

  

Office REITs (0.8%)

 

  

Highwoods Properties

     149,300       5,311  

Office Properties Income Trust

     132,500       2,753  

Piedmont Office Realty Trust, Cl A

     376,265       5,177  
   

 

 

  
      13,241  
   

 

 

  

LSV Value Equity Fund

  
        Shares           Value (000)    

Oil & Gas Exploration & Production (0.7%)

 

APA

     314,700     $ 11,697  
   

 

 

  

Oil & Gas Refining & Marketing (0.6%)

 

HF Sinclair

     209,400       10,014  
   

 

 

  

Oil & Gas Storage & Transportation (0.3%)

 

Kinder Morgan

     280,500       5,046  
   

 

 

  

Packaged Foods & Meats (0.5%)

 

Kraft Heinz

     243,300         8,961  
   

 

 

  

Paper Packaging (1.0%)

 

  

International Paper

     197,700       8,456  

Westrock

     217,800       9,226  
   

 

 

  
      17,682  
   

 

 

  

Petroleum & Fuel Products (4.4%)

 

ExxonMobil

     375,700       36,417  

Marathon Oil

     556,100       13,791  

Marathon Petroleum

     114,200       10,468  

Phillips 66

     112,600       10,021  

Valero Energy

     57,500       6,369  
   

 

 

  
      77,066  
   

 

 

  

Pharmaceuticals (7.6%)

 

  

AbbVie

     68,800       9,873  

Bristol-Myers Squibb

     395,400       29,173  

Jazz Pharmaceuticals*

     64,400       10,050  

Merck

     448,300       40,050  

Organon

     134,600       4,270  

Pfizer

     711,200       35,922  

Viatris, Cl W*

     517,700       5,017  
   

 

 

  
      134,355  
   

 

 

  

Property & Casualty Insurance (0.4%)

 

First American Financial

     118,800       6,890  
   

 

 

  

Reinsurance (0.4%)

    

Everest Re Group

     29,600       7,736  
   

 

 

  

Retail (1.9%)

    

Dick’s Sporting Goods

     66,800       6,252  

Kohl’s

     147,600       4,301  

Kroger

     374,200       17,377  

Macy’s

     266,500       4,704  
   

 

 

  
      32,634  
   

 

 

  

Retail REIT’s (0.5%)

    

Simon Property Group

     83,100       9,028  
   

 

 

  

Semiconductors (0.4%)

    

Qorvo*

     68,500       7,129  
   

 

 

  

Semi-Conductors/Instruments (4.8%)

 

Amkor Technology

     387,000       7,806  
 

 

3

Schedule of Investments

July 31, 2022 (Unaudited)

 

LSV Value Equity Fund

  
        Shares           Value (000)    

Semi-Conductors/Instruments (continued)

 

Applied Materials

       69,300     $ 7,344  

Diodes*

     85,010       6,917  

Intel

     846,400       30,733  

Micron Technology

     103,100       6,378  

QUALCOMM

     120,900       17,538  

Vishay Intertechnology

     334,500       6,911  
   

 

 

  
      83,627  
   

 

 

  

Specialized Consumer Services (0.6%)

 

H&R Block

     258,100       10,314  
   

 

 

  

Specialized REITs (0.3%)

    

Iron Mountain

     106,100       5,145  
   

 

 

  

Specialty Stores (0.3%)

    

Office Depot*

     149,300         5,420  
   

 

 

  

Steel & Steel Works (1.2%)

 

  

Reliance Steel & Aluminum

     63,900       12,157  

Steel Dynamics

     116,800       9,096  
   

 

 

  
      21,253  
   

 

 

  

Systems Software (0.2%)

    

VMware, Cl A

     34,300       3,986  
   

 

 

  

Technology Distributors (0.8%)

 

  

Arrow Electronics*

     102,200       13,099  

Insight Enterprises*

     6,890       644  
   

 

 

  
      13,743  
   

 

 

  

Technology Hardware, Storage & Peripherals (1.1%)

 

Dell Technologies, Cl C

     186,200       8,390  

Seagate Technology Holdings

     138,500       11,077  
   

 

 

  
      19,467  
   

 

 

  

Telephones & Telecommunications (3.7%)

 

AT&T

     1,351,940       25,389  

Cisco Systems

     273,800       12,422  

Verizon Communications

     592,000       27,345  
   

 

 

  
      65,156  
   

 

 

  

Thrifts & Mortgage Finance (0.4%)

 

Radian Group

     302,800       6,774  
   

 

 

  

Trucking (0.9%)

    

Ryder System

     106,200       8,317  

Werner Enterprises

     172,900       7,601  
   

 

 

  
      15,918  
   

 

 

  

TOTAL COMMON STOCK
(Cost $1,621,242)

       1,746,481  
   

 

 

  
LSV Value Equity Fund                
     Face
    Amount    
(000)		        Value (000)    

Repurchase Agreement (0.4%)

 

   

South Street Securities 1.950%, dated 07/29/2022, to be repurchased on 08/01/2022, repurchase price $6,609 (collateralized by various U.S. Treasury obligations, ranging in par value $0 - $7,251, 0.750% -1.875%, 04/30/2026 -02/15/2032; total market value $6,740)

   $     6,608      $ 6,608  
     

 

 

  

TOTAL REPURCHASE AGREEMENT
(Cost $6,608)

 

      6,608  
     

 

 

  

Total Investments – 99.9%
(Cost $1,627,850)

 

    $ 1,753,089  
     

 

 

  

Percentages are based on Net Assets of $1,754,891 (000).

 

*

Non-income producing security.

Cl — Class

REIT — Real Estate Investment Trust

The following is a summary of the inputs used as of July 31, 2022, in valuing the Fund’s investments carried at value ($ Thousands):

 

Investments in

     Securities        

   Level 1     Level 2     Level 3     Total  

Common Stock

   $ 1,746,481     $ —     $ —     $ 1,746,481  

Repurchase Agreement

     —       6,608       —       6,608  

 

  

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments in Securities

   $   1,746,481     $     6,608     $ —     $   1,753,089  

 

  

 

 

    

 

 

    

 

 

    

 

 

  

Amounts designated as “—“are $0 or have been rounded to $0.

For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels, and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual financial statements.

LSV-QH-001-3800

 

 

4