CRM SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| COMMON STOCK — 95.9% | ||||||||
| Consumer Discretionary - 5.5% | ||||||||
| Apparel & Textile Products - 2.2% | ||||||||
| 86,402 | Steven Madden Ltd.1 | $ | 2,304,341 | |||||
| Home Construction - 1.2% | ||||||||
| 22,514 | Skyline Champion Corporation1 | 1,190,315 | ||||||
| Leisure Facilities & Services - 1.9% | ||||||||
| 83,769 | BJ's Restaurants, Inc.1 | 1,997,891 | ||||||
| Wholesale - Discretionary - 0.2% | ||||||||
| 16,370 | G-III Apparel Group Ltd.1 | 244,732 | ||||||
| Total Consumer Discretionary | 5,737,279 | |||||||
| Consumer Staples - 6.9% | ||||||||
| Beverages - 1.0% | ||||||||
| 81,856 | Primo Water Corporation | 1,027,293 | ||||||
| Food - 3.7% | ||||||||
| 167,913 | Hostess Brands, Inc.1 | 3,902,298 | ||||||
| Retail - Consumer Staples - 2.2% | ||||||||
| 43,485 | Ollie's Bargain Outlet Holdings, Inc.1 | 2,243,826 | ||||||
| Total Consumer Staples | 7,173,417 | |||||||
| Energy - 5.3% | ||||||||
| Oil & Gas Producers - 2.0% | ||||||||
| 43,878 | Matador Resources Company | 2,146,512 | ||||||
| Oil & Gas Services & Equipment - 3.3% | ||||||||
| 173,928 | ChampionX Corporation | 3,403,771 | ||||||
| Total Energy | 5,550,283 | |||||||
CRM SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Financials - 23.0% | ||||||||
| Banking - 18.0% | ||||||||
| 26,827 | Amalgamated Financial Corporation | $ | 604,949 | |||||
| 119,070 | Cadence Bank | 3,025,569 | ||||||
| 139,841 | Central Pacific Financial Corporation1 | 2,893,310 | ||||||
| 131,957 | CVB Financial Corporation | 3,341,151 | ||||||
| 97,730 | First Interstate Bancsystem, Inc., Class A | 3,943,407 | ||||||
| 67,487 | Hancock Whitney Corporation | 3,091,579 | ||||||
| 159,545 | Heritage Commerce Corporation | 1,809,240 | ||||||
| 18,709,205 | ||||||||
| Insurance - 5.0% | ||||||||
| 91,280 | Horace Mann Educators Corporation | 3,221,271 | ||||||
| 88,941 | James River Group Holdings, Ltd. | 2,028,744 | ||||||
| 5,250,015 | ||||||||
| Total Financials | 23,959,220 | |||||||
| Health Care - 6.6% | ||||||||
| Biotechnology & Pharmaceuticals - 1.6% | ||||||||
| 115,221 | ABCAM PLC - ADR1,2,3 | 1,727,163 | ||||||
| Medical Equipment & Devices – 5.0% | ||||||||
| 57,002 | Envista Holdings Corporation1 | 1,870,236 | ||||||
| 65,388 | LeMaitre Vascular, Inc. | 3,313,863 | ||||||
| 5,184,099 | ||||||||
| Total Health Care | 6,911,262 | |||||||
| Industrials - 24.6% | ||||||||
| Aerospace & Defense - 4.5% | ||||||||
| 87,805 | Barnes Group, Inc. | 2,535,808 | ||||||
| 77,175 | Kaman Corporation | 2,155,498 | ||||||
| 4,691,306 | ||||||||
CRM SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Commercial Support Services - 4.0% | ||||||||
| 37,961 | Clean Harbors, Inc.1 | $ | 4,174,951 | |||||
| Electrical Equipment - 4.2% | ||||||||
| 79,067 | SPX Technologies, Inc.1 | 4,366,080 | ||||||
| Engineering & Construction - 2.5% | ||||||||
| 46,435 | Arcosa, Inc. | 2,655,153 | ||||||
| Industrial Intermediate Products - 4.1% | ||||||||
| 79,010 | Janus International Group, Inc.1 | 704,769 | ||||||
| 13,094 | Valmont Industries, Inc. | 3,517,310 | ||||||
| 4,222,079 | ||||||||
| Industrial Support Services - 1.7% | ||||||||
| 16,863 | Applied Industrial Technologies, Inc. | 1,733,179 | ||||||
| Transportation & Logistics - 3.6% | ||||||||
| 62,282 | Kirby Corporation1 | 3,784,877 | ||||||
| Total Industrials | 25,627,625 | |||||||
| Materials - 2.3% | ||||||||
| Chemicals - 2.3% | ||||||||
| 40,446 | HB Fuller Company | 2,430,805 | ||||||
| Real Estate - 7.8% | ||||||||
| REIT - 7.8% | ||||||||
| 71,179 | American Assets Trust, Inc. | 1,830,724 | ||||||
| 118,509 | Equity Commonwealth1 | 2,886,879 | ||||||
| 145,876 | Urban Edge Properties | 1,945,986 | ||||||
| 101,863 | Xenia Hotels & Resorts, Inc. | 1,404,691 | ||||||
| Total Real Estate | 8,068,280 | |||||||
CRM SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Technology - 7.1% | ||||||||
| Software - 5.8% | ||||||||
| 59,733 | Agilysys, Inc.1 | $ | 3,306,222 | |||||
| 61,583 | Envestnet, Inc.1 | 2,734,285 | ||||||
| 6,040,507 | ||||||||
| Technology Services - 1.3% | ||||||||
| 216,975 | Paya Holdings, Inc.1 | 1,325,717 | ||||||
| Total Technology | 7,366,224 | |||||||
| Utilities - 6.8% | ||||||||
| Electric Utilities - 2.6% | ||||||||
| 38,792 | Black Hills Corporation | 2,627,382 | ||||||
| Gas & Water Utilities - 4.2% | ||||||||
| 39,705 | Northwest Natural Holdings Company | 1,722,403 | ||||||
| 46,317 | SJW Group1 | 2,667,859 | ||||||
| 4,390,262 | ||||||||
| Total Utilities | 7,017,644 | |||||||
| TOTAL COMMON STOCK (Cost $97,036,810) | 99,842,039 | |||||||
| SHORT-TERM INVESTMENTS — 4.0% | ||||||||
| 2,080,326 | Blackrock Liquidity Funds T-Fund, Institutional Shares, 2.79%4 | 2,080,326 | ||||||
| 2,080,329 | Federated Hermes Treasury Obligations Fund, Institutional Shares, 2.84%4 | 2,080,329 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $4,160,655) | 4,160,655 | |||||||
| TOTAL INVESTMENTS - 99.9% (Cost $101,197,465) | $ | 104,002,694 | ||||||
| OTHER ASSETS IN EXCESS OF LIABILITIES - 0.1% | 86,611 | |||||||
| NET ASSETS - 100.0% | $ | 104,089,305 | ||||||
| 1 | Non-income producing security. |
| 2 | PLC – Public Limited Company. |
| 3 | ADR – American Depositary Receipt. |
| 4 | Rate disclosed is the seven day effective yield as of September 30, 2022. |
CRM MID CAP VALUE FUND
SCHEDULE OF INVESTMENTS
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| COMMON STOCK — 95.1% | ||||||||
| Consumer Discretionary - 8.4% | ||||||||
| Apparel & Textile Products - 1.8% | ||||||||
| 246,679 | Steven Madden Ltd.1 | $ | 6,578,929 | |||||
| Leisure Facilities & Services - 1.3% | ||||||||
| 38,532 | Marriott Vacations Worldwide Corporation1 | 4,695,510 | ||||||
| Retail - Discretionary - 1.9% | ||||||||
| 63,327 | Burlington Stores, Inc.1,2 | 7,085,658 | ||||||
| Wholesale - Discretionary - 3.4% | ||||||||
| 273,615 | LKQ Corporation | 12,900,947 | ||||||
| Total Consumer Discretionary | 31,261,044 | |||||||
| Consumer Staples - 5.2% | ||||||||
| Food - 5.2% | ||||||||
| 196,736 | Lamb Weston Holdings, Inc. | 15,223,432 | ||||||
| 303,235 | Nomad Foods Ltd.1 | 4,305,937 | ||||||
| Total Consumer Staples | 19,529,369 | |||||||
| Energy - 5.8% | ||||||||
| Oil & Gas Producers - 3.0% | ||||||||
| 51,798 | Pioneer Natural Resources Company | 11,215,821 | ||||||
| Oil & Gas Services & Equipment - 2.8% | ||||||||
| 543,324 | ChampionX Corporation | 10,632,851 | ||||||
| Total Energy | 21,848,672 | |||||||
| Financials - 16.1% | ||||||||
| Asset Management - 3.8% | ||||||||
| 65,406 | LPL Financial Holdings, Inc. | 14,289,903 | ||||||
CRM MID CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Banking - 4.5% | ||||||||
| 245,581 | Cadence Bank | $ | 6,240,213 | |||||
| 234,596 | Webster Financial Corporation | 10,603,739 | ||||||
| 16,843,952 | ||||||||
| Institutional Financial Services - 1.7% | ||||||||
| 105,151 | State Street Corporation | 6,394,232 | ||||||
| Insurance - 6.1% | ||||||||
| 111,836 | American Financial Group, Inc. | 13,747,999 | ||||||
| 140,948 | W.R. Berkley Corporation | 9,102,422 | ||||||
| 22,850,421 | ||||||||
| Total Financials | 60,378,508 | |||||||
| Health Care - 7.0% | ||||||||
| Medical Equipment & Devices - 7.0% | ||||||||
| 249,499 | Avantor, Inc.1 | 4,890,180 | ||||||
| 17,680 | Bio-Rad Laboratories, Inc., Class A1 | 7,375,035 | ||||||
| 318,397 | Envista Holdings Corporation1 | 10,446,607 | ||||||
| 50,482 | QuidelOrtho Corporation1 | 3,608,453 | ||||||
| Total Health Care | 26,320,275 | |||||||
| Industrials - 17.9% | ||||||||
| Aerospace & Defense - 3.5% | ||||||||
| 18,509 | Teledyne Technologies, Inc.1 | 6,246,232 | ||||||
| 85,108 | Woodward, Inc. | 6,830,768 | ||||||
| 13,077,000 | ||||||||
| Commercial Support Services - 1.2% | ||||||||
| 120,759 | Terminix Global Holdings, Inc.1 | 4,623,862 | ||||||
| Electrical Equipment - 5.9% | ||||||||
| 66,484 | AMETEK, Inc. | 7,539,949 | ||||||
| 291,296 | Hayward Holdings, Inc.1 | 2,583,796 | ||||||
| 224,884 | nVent Electric PLC3 | 7,108,583 | ||||||
CRM MID CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Electrical Equipment - 5.9% (Continued) | ||||||||
| 302,459 | Vontier Corporation1 | $ | 5,054,090 | |||||
| 22,286,418 | ||||||||
| Industrial Intermediate Products - 3.3% | ||||||||
| 45,880 | Valmont Industries, Inc. | 12,324,286 | ||||||
| Industrial Support Services - 0.6% | ||||||||
| 21,339 | Applied Industrial Technologies, Inc. | 2,193,222 | ||||||
| Machinery - 3.4% | ||||||||
| 89,782 | Regal Rexnord Corporation | 12,601,802 | ||||||
| Total Industrials | 67,106,590 | |||||||
| Materials - 12.6% | ||||||||
| Chemicals - 10.2% | ||||||||
| 140,087 | Ashland, Inc. | 13,304,062 | ||||||
| 259,209 | Corteva, Inc. | 14,813,794 | ||||||
| 122,967 | RPM International, Inc. | 10,244,381 | ||||||
| 38,362,237 | ||||||||
| Construction Materials - 2.4% | ||||||||
| 31,472 | Carlisle Companies, Inc. | 8,825,064 | ||||||
| Total Materials | 47,187,301 | |||||||
| Real Estate - 2.8% | ||||||||
| REIT - 2.8% | ||||||||
| 186,042 | American Assets Trust, Inc. | 4,785,000 | ||||||
| 216,790 | Highwoods Properties, Inc. | 5,844,659 | ||||||
| Total Real Estate | 10,629,659 | |||||||
CRM MID CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| COMMON STOCKS — 95.1% (Continued) | ||||||||
| Technology - 10.1% | ||||||||
| Semiconductors - 2.2% | ||||||||
| 133,600 | Microchip Technology, Inc. | $ | 8,153,608 | |||||
| Software – 3.5% | ||||||||
| 58,721 | PTC, Inc.1 | 6,142,217 | ||||||
| 197,172 | Tenable Holdings, Inc.1 | 6,861,586 | ||||||
| 13,003,803 | ||||||||
| Technology Services – 4.4% | ||||||||
| 1,113,023 | Clarivate PLC1,3 | 10,451,285 | ||||||
| 29,360 | Morningstar, Inc. | 6,233,715 | ||||||
| 16,685,000 | ||||||||
| Total Technology | 37,842,411 | |||||||
| Utilities - 9.2% | ||||||||
| Electric Utilities - 4.3% | ||||||||
| 133,880 | Black Hills Corporation | 9,067,692 | ||||||
| 99,812 | NextEra Energy Partners LP | 7,217,406 | ||||||
| 16,285,098 | ||||||||
| Gas & Water Utilities - 4.9% | ||||||||
| 72,339 | Atmos Energy Corporation | 7,367,727 | ||||||
| 429,259 | Nisource, Inc. | 10,813,035 | ||||||
| 18,180,762 | ||||||||
| Total Utilities | 34,465,860 | |||||||
| TOTAL COMMON STOCK (Cost $298,318,868) | 356,569,689 | |||||||
CRM MID CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| SHORT-TERM INVESTMENTS — 4.9% | ||||||||
| 9,171,694 | Blackrock Liquidity Funds T-Fund, Institutional Shares, 2.79%4 | $ | 9,171,694 | |||||
| 9,171,695 | Federated Hermes Treasury Obligations Fund, Institutional Shares, 2.84%4 | 9,171,695 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $18,343,389) | 18,343,389 | |||||||
| TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS HELD AS COLLATERAL FOR LOANED SECURITIES – 100.0% (Cost $316,662,257) | 374,913,078 | |||||||
| Principal | ||||||||
| SHORT-TERM INVESTMENTS HELD AS COLLATERAL FOR LOANED SECURITIES — 0.2% | ||||||||
| REPURCHASE AGREEMENTS – 0.2% | ||||||||
| $ | 883,231 | With Citigroup Global Markets, Inc.: at 2.98%, dated 9/30/22, to be repurchased on 10/3/22, repurchase price $883,450 (collateralized by US Treasury Securities, par values ranging from $0 - $407,389, coupon rates ranging from 0.00% to 4.25%, 1/26/23 - 5/15/48; total market value $900,613) | 883,231 | |||||
| TOTAL SHORT-TERM INVESTMENTS HELD AS COLLATERAL FOR LOANED SECURITIES (Cost $883,231) | ||||||||
| TOTAL INVESTMENTS - 100.2% (Cost $317,545,488) | $ | 375,796,309 | 5 | |||||
| LIABILITIES IN EXCESS OF OTHER ASSETS - (0.2)% | (951,646 | ) | ||||||
| NET ASSETS - 100.0% | $ | 374,844,663 | ||||||
| 1 | Non-income producing security. |
| 2 | Security partially or fully on loan. |
| 3 | PLC – Public Limited Company. |
| 4 | Rate disclosed is the seven day effective yield as of September 30, 2022. |
| 5 | At September 30, 2022, the market value of securities on loan for CRM Mid Cap Value Fund was $877,329. In the event that the collateral received is insufficient to cover the value of the loaned securities and provided such collateral shortfall is not the result of investment losses, the Fund’s securities lending agent, The Bank of New York Mellon, has agreed to pay the amount of the shortfall to the Fund, or at its discretion, replace the loaned securities. |
CRM SMALL/MID CAP VALUE FUND
SCHEDULE OF INVESTMENTS
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| COMMON STOCK — 96.0% | ||||||||
| Consumer Discretionary - 8.6% | ||||||||
| Home Construction - 1.4% | ||||||||
| 36,073 | Skyline Champion Corporation1 | $ | 1,907,180 | |||||
| Leisure Facilities & Services - 1.3% | ||||||||
| 14,772 | Marriott Vacations Worldwide Corporation1 | 1,800,116 | ||||||
| Retail - Discretionary - 2.2% | ||||||||
| 17,501 | Burlington Stores, Inc.1 | 1,958,187 | ||||||
| 4,563 | RH1 | 1,122,817 | ||||||
| 3,081,004 | ||||||||
| Wholesale - Discretionary - 3.7% | ||||||||
| 71,532 | G-III Apparel Group Ltd.1 | 1,069,403 | ||||||
| 84,885 | LKQ Corporation | 4,002,328 | ||||||
| 5,071,731 | ||||||||
| Total Consumer Discretionary | 11,860,031 | |||||||
| Consumer Staples - 5.8% | ||||||||
| Beverages - 1.2% | ||||||||
| 136,252 | Primo Water Corporation | 1,709,963 | ||||||
| Food - 4.6% | ||||||||
| 65,923 | Lamb Weston Holdings, Inc. | 5,101,122 | ||||||
| 86,802 | Nomad Foods Ltd.1 | 1,232,588 | ||||||
| 6,333,710 | ||||||||
| Total Consumer Staples | 8,043,673 | |||||||
| Energy - 6.2% | ||||||||
| Oil & Gas Producers - 2.4% | ||||||||
| 15,333 | Pioneer Natural Resources Company | 3,320,054 | ||||||
| Oil & Gas Services & Equipment - 3.1% | ||||||||
| 217,427 | ChampionX Corporation | 4,255,046 | ||||||
CRM SMALL/MID CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Renewable Energy - 0.7% | ||||||||
| 34,489 | Sunrun, Inc.1 | $ | 951,552 | |||||
| Total Energy | 8,526,652 | |||||||
| Financials - 21.9% | ||||||||
| Asset Management - 3.7% | ||||||||
| 23,217 | LPL Financial Holdings, Inc. | 5,072,450 | ||||||
| Banking - 10.6% | ||||||||
| 116,465 | Cadence Bank | 2,959,376 | ||||||
| 102,195 | CVB Financial Corporation | 2,587,577 | ||||||
| 130,279 | First Interstate Bancsystem, Inc., Class A | 5,256,759 | ||||||
| 85,312 | Webster Financial Corporation | 3,856,102 | ||||||
| 14,659,814 | ||||||||
| Insurance - 7.6% | ||||||||
| 36,266 | American Financial Group, Inc. | 4,458,179 | ||||||
| 115,407 | James River Group Holdings, Ltd. | 2,632,434 | ||||||
| 54,101 | W.R. Berkley Corporation | 3,493,843 | ||||||
| 10,584,456 | ||||||||
| Total Financials | 30,316,720 | |||||||
| Health Care - 6.0% | ||||||||
| Medical Equipment & Devices - 6.0% | ||||||||
| 7,894 | Bio-Rad Laboratories, Inc., Class A1 | 3,292,903 | ||||||
| 111,030 | Envista Holdings Corporation1 | 3,642,894 | ||||||
| 19,079 | QuidelOrtho Corporation1 | 1,363,767 | ||||||
| Total Health Care | 8,299,564 | |||||||
| Industrials - 20.6% | ||||||||
| Aerospace & Defense - 3.0% | ||||||||
| 89,549 | Kaman Corporation | 2,501,103 | ||||||
| 4,821 | Teledyne Technologies, Inc.1 | 1,626,943 | ||||||
| 4,128,046 | ||||||||
CRM SMALL/MID CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Commercial Support Services - 4.6% | ||||||||
| 57,782 | Clean Harbors, Inc.1 | $ | 6,354,865 | |||||
| Electrical Equipment - 3.7% | ||||||||
| 95,100 | Hayward Holdings, Inc.1 | 843,537 | ||||||
| 80,719 | nVent Electric PLC2 | 2,551,527 | ||||||
| 100,798 | Vontier Corporation1 | 1,684,335 | ||||||
| 5,079,399 | ||||||||
| Industrial Intermediate Products - 3.5% | ||||||||
| 137,806 | Janus International Group, Inc.1 | 1,229,230 | ||||||
| 13,493 | Valmont Industries, Inc. | 3,624,489 | ||||||
| 4,853,719 | ||||||||
| Machinery - 3.3% | ||||||||
| 32,789 | Regal Rexnord Corporation | 4,602,264 | ||||||
| Transportation & Logistics - 2.5% | ||||||||
| 58,425 | Kirby Corporation1 | 3,550,487 | ||||||
| Total Industrials | 28,568,780 | |||||||
| Materials - 10.6% | ||||||||
| Chemicals - 6.3% | ||||||||
| 52,535 | Ashland, Inc. | 4,989,249 | ||||||
| 44,809 | RPM International, Inc. | 3,733,038 | ||||||
| 8,722,287 | ||||||||
| Construction Materials - 4.3% | ||||||||
| 9,022 | Carlisle Companies, Inc. | 2,529,859 | ||||||
| 32,590 | Eagle Materials, Inc. | 3,492,996 | ||||||
| 6,022,855 | ||||||||
| Total Materials | 14,745,142 | |||||||
| Real Estate - 4.9% | ||||||||
| REIT - 4.9% | ||||||||
| 82,063 | American Assets Trust, Inc. | 2,110,660 | ||||||
CRM SMALL/MID CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| REIT - 4.9% (Continued) | ||||||||
| 71,889 | Equity Commonwealth1 | $ | 1,751,216 | |||||
| 214,768 | Urban Edge Properties | 2,865,006 | ||||||
| Total Real Estate | 6,726,882 | |||||||
| Technology - 7.6% | ||||||||
| Software – 5.1% | ||||||||
| 41,046 | Envestnet, Inc.1 | 1,822,442 | ||||||
| 21,610 | PTC, Inc.1 | 2,260,406 | ||||||
| 85,441 | Tenable Holdings, Inc.1 | 2,973,347 | ||||||
| 7,056,195 | ||||||||
| Technology Services – 2.5% | ||||||||
| 362,690 | Clarivate PLC1 | 3,405,659 | ||||||
| Total Technology | 10,461,854 | |||||||
| Utilities - 3.8% | ||||||||
| Electric Utilities - 1.4% | ||||||||
| 29,557 | Black Hills Corporation | 2,001,896 | ||||||
| Gas & Water Utilities - 2.4% | ||||||||
| 129,403 | Nisource, Inc. | 3,259,661 | ||||||
| Total Utilities | 5,261,557 | |||||||
| TOTAL COMMON STOCK (Cost $114,361,990) | 132,810,855 | |||||||
| SHORT-TERM INVESTMENTS — 1.4% | ||||||||
| 949,800 | Blackrock Liquidity Funds T-Fund, Institutional Shares, 2.79%3 | 949,800 | ||||||
| 949,799 | Federated Hermes Treasury Obligations Fund, Institutional Shares, 2.84%3 | 949,799 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $1,899,599) | 1,899,599 | |||||||
| TOTAL INVESTMENTS - 97.4% (Cost $116,261,589) | $ | 134,710,454 | ||||||
| OTHER ASSETS IN EXCESS OF LIABILITIES - 2.6% | 3,679,428 | |||||||
| NET ASSETS - 100.0% | $ | 138,389,882 | ||||||
CRM SMALL/MID CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| 1 | Non-income producing security. |
| 2 | PLC – Public Limited Company. |
| 3 | Rate disclosed is the seven day effective yield as of September 30, 2022. |
CRM ALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| COMMON STOCK — 95.6% | ||||||||
| Consumer Discretionary - 8.7% | ||||||||
| Apparel & Textile Products - 1.6% | ||||||||
| 13,173 | Steven Madden Ltd.1 | $ | 351,324 | |||||
| Home Construction - 1.1% | ||||||||
| 4,500 | Skyline Champion Corporation1 | 237,915 | ||||||
| Leisure Facilities & Services - 1.3% | ||||||||
| 2,370 | Marriott Vacations Worldwide Corporation1 | 288,808 | ||||||
| Retail - Discretionary - 1.6% | ||||||||
| 3,266 | Burlington Stores, Inc.1 | 365,433 | ||||||
| Wholesale - Discretionary - 3.1% | ||||||||
| 16,721 | G-III Apparel Group Ltd.1 | 249,979 | ||||||
| 9,193 | LKQ Corporation | 433,450 | ||||||
| 683,429 | ||||||||
| Total Consumer Discretionary | 1,926,909 | |||||||
| Consumer Staples - 3.6% | ||||||||
| Food - 3.6% | ||||||||
| 10,373 | Lamb Weston Holdings, Inc. | 802,663 | ||||||
| Energy - 5.0% | ||||||||
| Oil & Gas Producers - 2.2% | ||||||||
| 20,940 | Marathon Oil Corporation | 472,825 | ||||||
| Oil & Gas Services & Equipment - 2.8% | ||||||||
| 31,761 | ChampionX Corporation | 621,563 | ||||||
| Total Energy | 1,094,388 | |||||||
CRM ALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Financials - 19.6% | ||||||||
| Asset Management - 5.2% | ||||||||
| 6,704 | Charles Schwab Corporation (The) | $ | 481,816 | |||||
| 3,017 | LPL Financial Holdings, Inc. | 659,155 | ||||||
| 1,140,971 | ||||||||
| Banking - 8.3% | ||||||||
| 12,658 | Hancock Whitney Corporation | 579,862 | ||||||
| 12,338 | Truist Financial Corporation | 537,197 | ||||||
| 15,588 | Webster Financial Corporation | 704,577 | ||||||
| 1,821,636 | ||||||||
| Institutional Financial Services - 1.7% | ||||||||
| 6,080 | State Street Corporation | 369,725 | ||||||
| Insurance - 4.4% | ||||||||
| 4,420 | American Financial Group, Inc. | 543,350 | ||||||
| 9,187 | American International Group, Inc. | 436,199 | ||||||
| 979,549 | ||||||||
| Total Financials | 4,311,881 | |||||||
| Health Care - 15.5% | ||||||||
| Biotechnology & Pharmaceuticals - 3.1% | ||||||||
| 4,135 | Johnson & Johnson | 675,494 | ||||||
| Health Care Facilities & Services - 3.6% | ||||||||
| 1,643 | Humana, Inc. | 797,167 | ||||||
| Medical Equipment & Devices - 8.8% | ||||||||
| 13,555 | Avantor, Inc.1 | 265,678 | ||||||
| 2,325 | Danaher Corporation | 600,524 | ||||||
| 16,910 | Envista Holdings Corporation1 | 554,817 | ||||||
| 7,293 | QuidelOrtho Corporation1 | 521,304 | ||||||
| 1,942,323 | ||||||||
| Total Health Care | 3,414,984 | |||||||
CRM ALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Industrials - 16.8% | ||||||||
| Aerospace & Defense - 4.6% | ||||||||
| 20,372 | Kaman Corporation | $ | 568,990 | |||||
| 5,466 | Woodward, Inc. | 438,701 | ||||||
| 1,007,691 | ||||||||
| Electrical Equipment - 1.2% | ||||||||
| 8,740 | nVent Electric PLC2 | 276,271 | ||||||
| Industrial Intermediate Products - 3.2% | ||||||||
| 2,629 | Valmont Industries, Inc. | 706,202 | ||||||
| Machinery - 2.7% | ||||||||
| 4,172 | Regal Rexnord Corporation | 585,582 | ||||||
| Transportation & Logistics - 5.1% | ||||||||
| 18,357 | Kirby Corporation1 | 1,115,555 | ||||||
| Total Industrials | 3,691,301 | |||||||
| Materials - 6.4% | ||||||||
| Chemicals - 6.4% | ||||||||
| 6,568 | Ashland, Inc. | 623,763 | ||||||
| 13,928 | Corteva, Inc. | 795,985 | ||||||
| Total Materials | 1,419,748 | |||||||
| Real Estate - 0.9% | ||||||||
| REIT - 0.9% | ||||||||
| 14,690 | Xenia Hotels & Resorts, Inc. | 202,575 | ||||||
| Technology - 16.6% | ||||||||
| Semiconductors - 2.9% | ||||||||
| 5,201 | Microchip Technology, Inc. | 317,417 | ||||||
| CRM ALL CAP VALUE FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| September 30, 2022 (Unaudited) |
| Shares | Value | |||||||
| Semiconductors - 2.9% (Continued) | ||||||||
| 2,787 | QUALCOMM, Inc. | $ | 314,875 | |||||
| 632,292 | ||||||||
| Software – 4.1% | ||||||||
| 4,298 | PTC, Inc.1,2 | 449,571 | ||||||
| 12,776 | Tenable Holdings, Inc.1 | 444,605 | ||||||
| 1,004,176 | ||||||||
| Technology Hardware - 3.6% | ||||||||
| 9,967 | Ciena Corporation1 | 402,966 | ||||||
| 34,027 | DZS, Inc.1 | 384,505 | ||||||
| 787,471 | ||||||||
| Technology Services – 6.0% | ||||||||
| 63,579 | Clarivate PLC1 | 597,007 | ||||||
| 1,250 | MasterCard, Inc., Class A | 355,425 | ||||||
| 62,494 | Paya Holdings, Inc.1 | 381,838 | ||||||
| 1,334,270 | ||||||||
| Total Technology | 3,648,209 | |||||||
| Utilities - 2.5% | ||||||||
| Electric Utilities - 2.5% | ||||||||
| 6,977 | NextEra Energy, Inc. | 547,067 | ||||||
| TOTAL COMMON STOCK (Cost $19,702,545) | 21,059,725 | |||||||
CRM ALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| SHORT-TERM INVESTMENTS — 3.7% | ||||||||
| 412,909 | Blackrock Liquidity Funds T-Fund, Institutional Shares, 2.79%3 | $ | 412,909 | |||||
| 412,908 | Federated Hermes Treasury Obligations Fund, Institutional Shares, 2.84%3 | 412,908 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $825,817) | 825,817 | |||||||
| TOTAL INVESTMENTS - 99.3% (Cost $20,528,362) | $ | 21,885,542 | ||||||
| OTHER ASSETS IN EXCESS OF LIABILITIES - 0.7% | 152,731 | |||||||
| NET ASSETS - 100.0% | $ | 22,038,273 | ||||||
| 1 | Non-income producing security. |
| 2 | PLC – Public Limited Company. |
| 3 | Rate disclosed is the seven day effective yield as of September 30, 2022. |
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| COMMON STOCK — 81.6% | ||||||||
| Communications - 2.8% | ||||||||
| Entertainment Content - 1.3% | ||||||||
| 24,686 | Walt Disney Company (The)1 | $ | 2,328,630 | |||||
| Internet Media & Services - 1.5% | ||||||||
| 1,746 | Booking Holdings, Inc.1 | 2,869,045 | ||||||
| Total Communications | 5,197,675 | |||||||
| Consumer Discretionary - 14.6% | ||||||||
| Apparel & Textile Products - 1.8% | ||||||||
| 127,917 | Steven Madden Ltd.1 | 3,411,546 | ||||||
| Automotive - 0.3% | ||||||||
| 42,213 | Lucid Group, Inc.1 | 589,716 | ||||||
| Home Construction - 3.1% | ||||||||
| 110,201 | Skyline Champion Corporation1 | 5,826,327 | ||||||
| Leisure Facilities & Services - 3.4% | ||||||||
| 90,886 | BJ's Restaurants, Inc.1 | 2,167,631 | ||||||
| 34,678 | Marriott Vacations Worldwide Corporation1 | 4,225,861 | ||||||
| 6,393,492 | ||||||||
| Retail - Discretionary - 2.1% | ||||||||
| 19,415 | Burlington Stores, Inc.1 | 2,172,344 | ||||||
| 6,644 | RH1 | 1,634,889 | ||||||
| 3,807,233 | ||||||||
| Wholesale - Discretionary - 3.9% | ||||||||
| 209,335 | G-III Apparel Group Ltd.1 | 3,129,558 | ||||||
| 85,219 | LKQ Corporation | 4,018,076 | ||||||
| 7,147,634 | ||||||||
| Total Consumer Discretionary | 27,175,948 | |||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Consumer Staples - 5.3% | ||||||||
| Beverages - 2.2% | ||||||||
| 2,300,200 | Becle SAB de CV | $ | 4,058,202 | |||||
| Food - 3.1% | ||||||||
| 74,669 | Lamb Weston Holdings, Inc. | 5,777,888 | ||||||
| Total Consumer Staples | 9,836,090 | |||||||
| Energy - 3.9% | ||||||||
| Oil & Gas Producers - 1.7% | ||||||||
| 14,215 | Pioneer Natural Resources Company | 3,077,974 | ||||||
| Renewable Energy - 2.2% | ||||||||
| 151,516 | Sunrun, Inc.1 | 4,180,326 | ||||||
| Total Energy | 7,258,300 | |||||||
| Financials - 7.7% | ||||||||
| Asset Management - 2.2% | ||||||||
| 55,865 | Charles Schwab Corporation (The) | 4,015,018 | ||||||
| Banking - 1.8% | ||||||||
| 75,095 | Webster Financial Corporation | 3,394,294 | ||||||
| Institutional Financial Services - 1.0% | ||||||||
| 23,390 | Morgan Stanley | 1,848,044 | ||||||
| Insurance - 2.7% | ||||||||
| 42,348 | Progressive Corporation (The) | 4,921,262 | ||||||
| Total Financials | 14,178,618 | |||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Health Care - 8.7% | ||||||||
| Health Care Facilities & Services - 2.7% | ||||||||
| 10,284 | Humana, Inc. | $ | 4,989,694 | |||||
| Medical Equipment & Devices - 6.0% | ||||||||
| 125,847 | Avantor, Inc.1 | 2,466,601 | ||||||
| 17,203 | Danaher Corporation | 4,443,363 | ||||||
| 130,876 | Envista Holdings Corporation1 | 4,294,042 | ||||||
| 11,204,006 | ||||||||
| Total Health Care | 16,193,700 | |||||||
| Industrials - 19.5% | ||||||||
| Aerospace & Defense - 1.7% | ||||||||
| 112,348 | Kaman Corporation | 3,137,880 | ||||||
| Commercial Support Services - 4.3% | ||||||||
| 73,199 | Clean Harbors, Inc.1 | 8,050,426 | ||||||
| Electrical Equipment - 2.4% | ||||||||
| 170,176 | Hayward Holdings, Inc.1 | 1,509,461 | ||||||
| 176,071 | Vontier Corporation1 | 2,942,147 | ||||||
| 4,451,608 | ||||||||
| Engineering & Construction - 2.7% | ||||||||
| 88,718 | Arcosa, Inc. | 5,072,895 | ||||||
| Industrial Intermediate Products - 2.5% | ||||||||
| 143,414 | Janus International Group, Inc.1 | 1,279,253 | ||||||
| 12,388 | Valmont Industries, Inc. | 3,327,664 | ||||||
| 4,606,917 | ||||||||
| Transportation & Logistics - 5.9% | ||||||||
| 78,692 | Canadian Pacific Railway Ltd. | 5,250,330 | ||||||
| 93,873 | Kirby Corporation1 | 5,704,662 | ||||||
| 10,954,992 | ||||||||
| Total Industrials | 36,274,718 | |||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Technology - 14.6% | ||||||||
| Semiconductors - 1.8% | ||||||||
| 29,697 | QUALCOMM, Inc. | $ | 3,355,167 | |||||
| Software – 9.7% | ||||||||
| 156,277 | Jamf Holding Corporation1 | 3,463,098 | ||||||
| 19,061 | Microsoft Corporation | 4,439,307 | ||||||
| 44,590 | PTC, Inc.1 | 4,664,113 | ||||||
| 156,106 | Tenable Holdings, Inc.1 | 5,432,488 | ||||||
| 17,999,006 | ||||||||
| Technology Services – 3.1% | ||||||||
| 136,061 | Clarivate PLC1,2 | 1,277,613 | ||||||
| 15,948 | MasterCard, Inc., Class A | 4,534,655 | ||||||
| 5,812,268 | ||||||||
| Total Technology | 27,166,441 | |||||||
| Utilities - 4.5% | ||||||||
| Electric Utilities - 4.4% | ||||||||
| 105,108 | NextEra Energy, Inc. | 8,241,518 | ||||||
| TOTAL COMMON STOCK (Cost $156,436,584) | 151,523,008 | |||||||
| SHORT-TERM INVESTMENTS — 8.2% | ||||||||
| 7,590,041 | Blackrock Liquidity Funds T-Fund, INSTITUTIONAL, 2.79%3 | 7,590,041 | ||||||
| 7,590,041 | Federated Hermes Treasury Obligations Fund, Institutional Shares, 2.84%3 | 7,590,041 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $15,180,082) | 15,180,082 | |||||||
| TOTAL INVESTMENTS IN SECURITIES - 89.8% (Cost $171,616,666) | 166,703,090 | |||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| COMMON STOCK SOLD SHORT — (42.9)% | ||||||||
| Communications - (3.1)% | ||||||||
| Advertising & Marketing - (1.3)% | ||||||||
| (38,525 | ) | Omnicom Group, Inc. | $ | (2,430,542 | ) | |||
| Entertainment Content - (0.4)% | ||||||||
| (36,805 | ) | Paramount Global, Class B | (700,767 | ) | ||||
| Publishing & Broadcasting - (0.5)% | ||||||||
| (99,725 | ) | Pearson PLC2 | (952,468 | ) | ||||
| Telecommunications - (0.9)% | ||||||||
| (103,074 | ) | AT&T, Inc. | (1,581,155 | ) | ||||
| Total Communications | (5,664,932 | ) | ||||||
| Consumer Discretionary - (10.4)% | ||||||||
| Apparel & Textile Products - (1.6)% | ||||||||
| (25,950 | ) | Crocs, Inc. | (1,781,727 | ) | ||||
| (33,745 | ) | Kontoor Brands, Inc. | (1,134,169 | ) | ||||
| (2,915,896 | ) | |||||||
| Automotive - (0.7)% | ||||||||
| (238,128 | ) | Canoo, Inc. | (446,490 | ) | ||||
| (333,149 | ) | Lordstown Motors Corporation | (609,663 | ) | ||||
| (122,621 | ) | Sono Group NV | (311,457 | ) | ||||
| (1,367,610 | ) | |||||||
| Consumer Services - (4.2)% | ||||||||
| (73,385 | ) | Adtalem Global Education, Inc. | (2,674,883 | ) | ||||
| (235,902 | ) | Perdoceo Education Corporation | (2,429,791 | ) | ||||
| (44,360 | ) | Strategic Education, Inc. | (2,724,148 | ) | ||||
| (7,828,822 | ) | |||||||
| Leisure Facilities & Services - (1.2)% | ||||||||
| (130,575 | ) | Life Time Group Holdings, Inc. | (1,273,106 | ) | ||||
| (19,985 | ) | SeaWorld Entertainment, Inc. | (909,517 | ) | ||||
| (2,182,623 | ) | |||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Retail - Discretionary - (2.7)% | ||||||||
| (32,557 | ) | Children's Place, Inc. (The) | $ | (1,005,686 | ) | |||
| (74,630 | ) | EVgo, Inc. | (590,323 | ) | ||||
| (39,640 | ) | Lovesac Company (The) | (807,863 | ) | ||||
| (36,589 | ) | Pandora A/S | (1,711,032 | ) | ||||
| (7,372 | ) | Williams-Sonoma, Inc. | (868,790 | ) | ||||
| (4,983,694 | ) | |||||||
| Total Consumer Discretionary | (19,278,645 | ) | ||||||
| Consumer Staples - (2.5)% | ||||||||
| Food - (0.7)% | ||||||||
| (19,776 | ) | Kellogg Company | (1,377,596 | ) | ||||
| Retail - Consumer Staples - (1.8)% | ||||||||
| (31,154 | ) | Kroger Company (The) | (1,362,988 | ) | ||||
| (62,208 | ) | Walgreens Boots Alliance, Inc. | (1,953,331 | ) | ||||
| (3,316,319 | ) | |||||||
| Total Consumer Staples | (4,693,915 | ) | ||||||
| Energy - (0.2)% | ||||||||
| Renewable Energy - (0.2)% | ||||||||
| (16,911 | ) | Plug Power, Inc. | (355,300 | ) | ||||
| Financials - (2.8)% | ||||||||
| Asset Management - (0.6)% | ||||||||
| (14,007 | ) | Blackstone Group LP (The) | (1,172,386 | ) | ||||
| Insurance - (0.3)% | ||||||||
| (62,141 | ) | Hagerty, Inc. | (558,648 | ) | ||||
| Specialty Finance - (1.9)% | ||||||||
| (24,978 | ) | Capital One Financial Corporation | (2,302,223 | ) | ||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Specialty Finance - (1.9)% (Continued) | ||||||||
| (189,279 | ) | Rocket Companies, Inc. | $ | (1,196,243 | ) | |||
| (3,498,466 | ) | |||||||
| Total Financials | (5,229,500 | ) | ||||||
| Health Care - (2.8)% | ||||||||
| Biotechnology & Pharmaceuticals - (0.2)% | ||||||||
| (9,225 | ) | Twist Bioscience Corporation | (325,089 | ) | ||||
| Health Care Facilities & Services - (2.6)% | ||||||||
| (47,265 | ) | AdaptHealth Corporation | (887,637 | ) | ||||
| (43,125 | ) | Agiliti, Inc. | (617,119 | ) | ||||
| (28,130 | ) | Catalent, Inc. | (2,035,487 | ) | ||||
| (34,079 | ) | Fulgent Genetics, Inc. | (1,299,091 | ) | ||||
| (4,839,334 | ) | |||||||
| Total Health Care | (5,164,423 | ) | ||||||
| Industrials - (11.2)% | ||||||||
| Electrical Equipment - (5.2)% | ||||||||
| (17,412 | ) | Acuity Brands, Inc. | (2,741,868 | ) | ||||
| (22,884 | ) | Atkore International Group, Inc. | (1,780,604 | ) | ||||
| (54,577 | ) | Blink Charging Company | (967,104 | ) | ||||
| (75,350 | ) | Bloom Energy Corporation, Class A | (1,506,247 | ) | ||||
| (6,435 | ) | Generac Holdings, Inc. | (1,146,331 | ) | ||||
| (55,205 | ) | Signify NV | (1,420,632 | ) | ||||
| (9,562,786 | ) | |||||||
| Industrial Intermediate Products - (0.7)% | ||||||||
| (178,775 | ) | Hillman Solutions Corporation | (1,347,964 | ) | ||||
| Industrial Support Services - (2.0)% | ||||||||
| (85,654 | ) | Resideo Technologies, Inc. | (1,632,565 | ) | ||||
| (7,798 | ) | Watsco, Inc. | (2,007,673 | ) | ||||
| (3,640,238 | ) | |||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Machinery - (0.5)% | ||||||||
| (4,605 | ) | Snap-on, Inc. | $ | (927,217 | ) | |||
| Transportation & Logistics - (1.4)% | ||||||||
| (8,595 | ) | CH Robinson Worldwide, Inc. | (827,784 | ) | ||||
| (7,450 | ) | Old Dominion Freight Line, Inc. | (1,853,336 | ) | ||||
| (2,681,120 | ) | |||||||
| Transportation Equipment - (1.4)% | ||||||||
| (32,918 | ) | Wabtec Corporation | (2,677,879 | ) | ||||
| Total Industrials | (20,837,204 | ) | ||||||
| Materials - (1.1)% | ||||||||
| Chemicals - (1.1)% | ||||||||
| (22,982 | ) | Celanese Corporation | (2,076,194 | ) | ||||
| Real Estate - (2.3)% | ||||||||
| Real Estate Services - (0.6)% | ||||||||
| (124,139 | ) | Anywhere Real Estate, Inc. | (1,006,767 | ) | ||||
| REIT - (1.7)% | ||||||||
| (46,183 | ) | CubeSmart | (1,850,091 | ) | ||||
| (32,335 | ) | Kilroy Realty Corporation | (1,361,627 | ) | ||||
| (3,211,718 | ) | |||||||
| Total Real Estate | (4,218,485 | ) | ||||||
| Technology - (5.0)% | ||||||||
| Semiconductors - (0.6)% | ||||||||
| (30,272 | ) | Kulicke & Soffa Industries, Inc. | (1,166,380 | ) | ||||
| Software - (1.9)% | ||||||||
| (11,940 | ) | Guidewire Software, Inc. | (735,265 | ) | ||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Shares | Value | |||||||
| Software - (1.9)% (Continued) | ||||||||
| (20,108 | ) | Qualys, Inc. | $ | (2,802,854 | ) | |||
| (3,538,119 | ) | |||||||
| Technology Hardware - (1.5)% | ||||||||
| (112,610 | ) | 3D Systems Corporation | (898,628 | ) | ||||
| (344,915 | ) | Desktop Metal, Inc. | (893,330 | ) | ||||
| (3,430 | ) | Ubiquiti Networks, Inc. | (1,006,911 | ) | ||||
| (2,798,869 | ) | |||||||
| Technology Services - (1.0)% | ||||||||
| (71,160 | ) | DXC Technology Company | (1,741,997 | ) | ||||
| Total Technology | (9,245,365 | ) | ||||||
| Utilities - (1.5)% | ||||||||
| Electric Utilities - (1.5)% | ||||||||
| (67,257 | ) | Avangrid, Inc. | (2,804,617 | ) | ||||
| TOTAL COMMON STOCK SOLD SHORT - (Proceeds - $97,370,605) | (79,568,580 | ) | ||||||
| ASSETS IN EXCESS OF OTHER LIABILITIES - 53.1% | 98,582,763 | |||||||
| NET ASSETS - 100.0% | $ | 185,717,273 | ||||||
| 1 | Non-income producing security. |
| 2 | PLC – Public Limited Company. |
| 3 | Rate disclosed is the seven day effective yield as of September 30, 2022. |
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
OTC Total return swap agreements outstanding at September 30, 2022:
| Counterparty | Financing Rate(1) | Termination Date | Long (Short) Notional Amount(2) | Reference Entity | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||
| Morgan Stanley | 3.73% (Fed Funds Rate + 0.65%) | 03/23/2023 | $ | 4,017,880 | Eagle Materials, Inc. | $ | (914,773 | ) | $ | - | $ | (914,773 | ) | |||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (560,529 | ) | Morgan Stanley Custom Swap (MSCMS621) Index(3) | 47,715 | - | 47,715 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (548,010 | ) | Morgan Stanley Custom Swap (MSCMS622) Index(3) | 55,026 | - | 55,026 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (553,393 | ) | Morgan Stanley Custom Swap (MSCMS623) Index(3) | 47,244 | - | 47,244 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (566,346 | ) | Morgan Stanley Custom Swap (MSCMS624) Index(3) | 60,300 | - | 60,300 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (578,196 | ) | Morgan Stanley Custom Swap (MSCMS625) Index(3) | 72,342 | - | 72,342 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (584,460 | ) | Morgan Stanley Custom Swap (MSCMS626) Index(3) | 80,982 | - | 80,982 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (570,600 | ) | Morgan Stanley Custom Swap (MSCMS627) Index(3) | 72,997 | - | 72,997 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (576,623 | ) | Morgan Stanley Custom Swap (MSCMS628) Index(3) | 69,479 | - | 69,479 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (576,493 | ) | Morgan Stanley Custom Swap (MSCMS629) Index(3) | 67,510 | - | 67,510 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (569,649 | ) | Morgan Stanley Custom Swap (MSCMS630) Index(3) | 47,283 | - | 47,283 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (566,202 | ) | Morgan Stanley Custom Swap (MSCMS631) Index(3) | 40,392 | - | 40,392 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (566,494 | ) | Morgan Stanley Custom Swap (MSCMS632) Index(3) | 57,717 | - | 57,717 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (576,551 | ) | Morgan Stanley Custom Swap (MSCMS633) Index(3) | 53,580 | - | 53,580 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (571,391 | ) | Morgan Stanley Custom Swap (MSCMS634) Index(3) | 36,835 | - | 36,835 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (561,688 | ) | Morgan Stanley Custom Swap (MSCMS635) Index(3) | 20,801 | - | 20,801 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (560,561 | ) | Morgan Stanley Custom Swap (MSCMS636) Index(3) | 12,409 | - | 12,409 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (563,312 | ) | Morgan Stanley Custom Swap (MSCMS637) Index(3) | 19,456 | - | 19,456 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (557,595 | ) | Morgan Stanley Custom Swap (MSCMS638) Index(3) | 13,072 | - | 13,072 | ||||||||||||||
| Morgan Stanley | 2.63% (Fed Funds Rate minus 0.45%) | 08/01/2023 | (557,065 | ) | Morgan Stanley Custom Swap (MSCMS639) Index(3) | 12,916 | - | 12,916 | ||||||||||||||
| Morgan Stanley | 3.08% (Fed Funds Rate) | 08/01/2023 | (554,448 | ) | Morgan Stanley Custom Swap (MSCMS640) Index(3) | 8,514 | - | 8,514 | ||||||||||||||
| Total Unrealized Appreciation | $ | 896,570 | ||||||||||||||||||||
| Total Unrealized (Depreciation) | $ | (914,773 | ) | |||||||||||||||||||
| Total | $ | (18,203 | ) | $ | - | $ | (18,203 | ) | ||||||||||||||
| (1) | Paid monthly. |
| (2) | Morgan Stanley acts as the counterparty to the total return swap contracts listed above. The Fund either receives fees from, or pays fees to, the counterparty, depending upon the total return of the benchmark, and the agreed -upon floating rate financing rate. |
| (3) | See the tables below for the swap constituents. |
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS621) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Albemarle Corporation | 135 | $ | 35,762 | 6.97 | % | |||||||
| Dollar General Corporation | 143 | 34,333 | 6.69 | % | ||||||||
| Tractor Supply Company | 185 | 34,331 | 6.69 | % | ||||||||
| Starbucks Corporation | 407 | 34,286 | 6.69 | % | ||||||||
| CVS Health Corporation | 348 | 33,164 | 6.47 | % | ||||||||
| Agilent Technologies, Inc. | 270 | 32,761 | 6.39 | % | ||||||||
| Pfizer, Inc. | 745 | 32,611 | 6.36 | % | ||||||||
| HCA Healthcare, Inc. | 174 | 32,022 | 6.24 | % | ||||||||
| Discover Financial Services | 347 | 31,582 | 6.16 | % | ||||||||
| Target Corporation | 211 | 31,282 | 6.10 | % | ||||||||
| Costco Wholesale Corporation | 66 | 31,013 | 6.05 | % | ||||||||
| Walgreens Boots Alliance, Inc. | 986 | 30,946 | 6.03 | % | ||||||||
| Capital One Financial Corporation | 332 | 30,559 | 5.96 | % | ||||||||
| AT&T, Inc. | 1,986 | 30,461 | 5.94 | % | ||||||||
| West Company, Inc. | 117 | 28,880 | 5.63 | % | ||||||||
| Steris Corporation | 174 | 28,859 | 5.63 | % | ||||||||
| $ | 512,852 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS622) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Pfizer, Inc. | 1,711 | $ | 74,894 | 15.19 | % | |||||||
| Agilent Technologies, Inc. | 611 | 74,267 | 15.06 | % | ||||||||
| HCA Healthcare, Inc. | 391 | 71,864 | 14.58 | % | ||||||||
| Discover Financial Services | 786 | 71,448 | 14.49 | % | ||||||||
| Capital One Financial Corporation | 750 | 69,171 | 14.03 | % | ||||||||
| West Company, Inc. | 268 | 66,061 | 13.40 | % | ||||||||
| Steris Corporation | 393 | 65,299 | 13.25 | % | ||||||||
| $ | 493,004 | 100.00 | % | |||||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS623) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Dollar General Corporation | 116 | $ | 27,706 | 5.47 | % | |||||||
| Starbucks Corporation | 328 | 27,615 | 5.46 | % | ||||||||
| Albemarle Corporation | 104 | 27,465 | 5.43 | % | ||||||||
| CVS Health Corporation | 281 | 26,757 | 5.29 | % | ||||||||
| Pfizer, Inc. | 605 | 26,489 | 5.23 | % | ||||||||
| LyondellBasell Industries N.V. - Class A | 344 | 25,881 | 5.11 | % | ||||||||
| Discover Financial Services | 284 | 25,833 | 5.10 | % | ||||||||
| Cognizant Technology Solutions Corporation | 445 | 25,572 | 5.05 | % | ||||||||
| HCA Healthcare, Inc. | 138 | 25,365 | 5.01 | % | ||||||||
| AT&T, Inc. | 1,650 | 25,308 | 5.00 | % | ||||||||
| Costco Wholesale Corporation | 53 | 25,211 | 4.98 | % | ||||||||
| Target Corporation | 169 | 25,128 | 4.96 | % | ||||||||
| Capital One Financial Corporation | 271 | 24,989 | 4.94 | % | ||||||||
| Sherwin-Williams Company (The) | 121 | 24,834 | 4.91 | % | ||||||||
| Blackstone, Inc. | 294 | 24,641 | 4.87 | % | ||||||||
| Walgreens Boots Alliance, Inc. | 784 | 24,626 | 4.87 | % | ||||||||
| Realty Income Corporation | 409 | 23,795 | 4.70 | % | ||||||||
| West Company, Inc. | 95 | 23,424 | 4.63 | % | ||||||||
| Duke Realty Corporation | 473 | 22,800 | 4.50 | % | ||||||||
| Prologis, Inc. | 224 | 22,733 | 4.49 | % | ||||||||
| $ | 506,172 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS624) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Allstate Corporation (The) | 111 | $ | 13,861 | 2.74 | % | |||||||
| Starbucks Corporation | 158 | 13,288 | 2.63 | % | ||||||||
| CVS Health Corporation | 138 | 13,192 | 2.61 | % | ||||||||
| Tractor Supply Company | 71 | 13,190 | 2.61 | % | ||||||||
| PACCAR, Inc. | 157 | 13,159 | 2.60 | % | ||||||||
| Eaton Corporation PLC | 99 | 13,147 | 2.60 | % | ||||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Cummins, Inc. | 64 | $ | 13,121 | 2.59 | % | |||||||
| CF Industries Holdings, Inc. | 136 | 13,099 | 2.59 | % | ||||||||
| Automatic Data Processing, Inc. | 58 | 13,032 | 2.57 | % | ||||||||
| Canadian Imperial Bank of Commerce | 295 | 12,923 | 2.55 | % | ||||||||
| Agilent Technologies, Inc. | 106 | 12,880 | 2.54 | % | ||||||||
| Amgen, Inc. | 57 | 12,824 | 2.53 | % | ||||||||
| Discover Financial Services | 139 | 12,670 | 2.50 | % | ||||||||
| AT&T, Inc. | 826 | 12,664 | 2.50 | % | ||||||||
| Caterpillar, Inc. | 77 | 12,635 | 2.50 | % | ||||||||
| Cintas Corporation | 33 | 12,626 | 2.49 | % | ||||||||
| Ulta Beauty, Inc. | 31 | 12,584 | 2.49 | % | ||||||||
| Cognizant Technology Solutions Corporation | 219 | 12,564 | 2.48 | % | ||||||||
| CDW Corporation | 80 | 12,560 | 2.48 | % | ||||||||
| Fastenal Company | 273 | 12,548 | 2.48 | % | ||||||||
| McDonald's Corporation | 54 | 12,435 | 2.46 | % | ||||||||
| Costco Wholesale Corporation | 26 | 12,418 | 2.45 | % | ||||||||
| Restaurant Brands International, Inc. | 233 | 12,400 | 2.45 | % | ||||||||
| Emerson Electric Company | 169 | 12,399 | 2.45 | % | ||||||||
| Apple, Inc. | 89 | 12,341 | 2.44 | % | ||||||||
| Rockwell Automation, Inc. | 57 | 12,328 | 2.44 | % | ||||||||
| Capital One Financial Corporation | 133 | 12,238 | 2.42 | % | ||||||||
| Blackstone, Inc. | 145 | 12,100 | 2.39 | % | ||||||||
| Mettler-Toledo International, Inc. | 11 | 12,074 | 2.39 | % | ||||||||
| HCA Healthcare, Inc. | 66 | 12,065 | 2.38 | % | ||||||||
| W. W. Grainger, Inc. | 24 | 11,874 | 2.35 | % | ||||||||
| Realty Income Corporation | 204 | 11,873 | 2.35 | % | ||||||||
| Lululemon Athletica, Inc. | 41 | 11,557 | 2.28 | % | ||||||||
| Moody's Corporation | 47 | 11,499 | 2.27 | % | ||||||||
| West Company, Inc. | 47 | 11,470 | 2.27 | % | ||||||||
| United Parcel Service - Class B | 71 | 11,461 | 2.26 | % | ||||||||
| Steris Corporation | 68 | 11,356 | 2.24 | % | ||||||||
| Duke Realty Corporation | 233 | 11,216 | 2.22 | % | ||||||||
| Prologis, Inc. | 110 | 11,174 | 2.21 | % | ||||||||
| General Motors Company | 347 | 11,142 | 2.20 | % | ||||||||
| Ford Motor Company | 903 | 10,109 | 2.00 | % | ||||||||
| $ | 506,096 | 100.00 | % | |||||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS625) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Allstate Corporation (The) | 113 | $ | 14,103 | 2.79 | % | |||||||
| PACCAR, Inc. | 167 | 13,935 | 2.75 | % | ||||||||
| Cummins, Inc. | 67 | 13,619 | 2.69 | % | ||||||||
| Starbucks Corporation | 161 | 13,539 | 2.68 | % | ||||||||
| CF Industries Holdings, Inc. | 140 | 13,504 | 2.67 | % | ||||||||
| Automatic Data Processing, Inc. | 59 | 13,439 | 2.66 | % | ||||||||
| Eaton Corporation PLC | 100 | 13,383 | 2.64 | % | ||||||||
| Tractor Supply Company | 72 | 13,374 | 2.64 | % | ||||||||
| Pfizer, Inc. | 305 | 13,361 | 2.64 | % | ||||||||
| Amgen, Inc. | 59 | 13,201 | 2.61 | % | ||||||||
| Canadian Imperial Bank of Commerce | 299 | 13,089 | 2.59 | % | ||||||||
| Fastenal Company | 284 | 13,059 | 2.58 | % | ||||||||
| Cintas Corporation | 33 | 12,996 | 2.57 | % | ||||||||
| Ulta Beauty, Inc. | 32 | 12,950 | 2.56 | % | ||||||||
| Discover Financial Services | 142 | 12,934 | 2.56 | % | ||||||||
| Agilent Technologies, Inc. | 106 | 12,925 | 2.55 | % | ||||||||
| Caterpillar, Inc. | 78 | 12,878 | 2.55 | % | ||||||||
| CDW Corporation | 82 | 12,868 | 2.54 | % | ||||||||
| Apple, Inc. | 93 | 12,862 | 2.54 | % | ||||||||
| Motorola Solutions, Inc. | 57 | 12,860 | 2.54 | % | ||||||||
| Cognizant Technology Solutions Corporation | 223 | 12,831 | 2.54 | % | ||||||||
| Costco Wholesale Corporation | 27 | 12,831 | 2.54 | % | ||||||||
| McDonald's Corporation | 55 | 12,753 | 2.52 | % | ||||||||
| Rockwell Automation, Inc. | 59 | 12,625 | 2.50 | % | ||||||||
| Restaurant Brands International, Inc. | 237 | 12,619 | 2.49 | % | ||||||||
| Realty Income Corporation | 217 | 12,607 | 2.49 | % | ||||||||
| Emerson Electric Company | 172 | 12,580 | 2.49 | % | ||||||||
| Capital One Financial Corporation | 135 | 12,448 | 2.46 | % | ||||||||
| W. W. Grainger, Inc. | 25 | 12,320 | 2.43 | % | ||||||||
| HCA Healthcare, Inc. | 66 | 12,220 | 2.42 | % | ||||||||
| Mettler-Toledo International, Inc. | 11 | 12,134 | 2.40 | % | ||||||||
| United Parcel Service - Class B | 73 | 11,840 | 2.34 | % | ||||||||
| Moody's Corporation | 49 | 11,802 | 2.33 | % | ||||||||
| Steris Corporation | 70 | 11,670 | 2.31 | % | ||||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Align Technology, Inc. | 56 | $ | 11,571 | 2.29 | % | |||||||
| West Company, Inc. | 47 | 11,480 | 2.27 | % | ||||||||
| Duke Realty Corporation | 238 | 11,460 | 2.26 | % | ||||||||
| Prologis, Inc. | 112 | 11,418 | 2.26 | % | ||||||||
| General Motors Company | 355 | 11,390 | 2.25 | % | ||||||||
| Ford Motor Company | 929 | 10,407 | 2.06 | % | ||||||||
| $ | 505,885 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS626) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Dollar General Corporation | 181 | $ | 43,392 | 8.62 | % | |||||||
| CVS Health Corporation | 438 | 41,762 | 8.29 | % | ||||||||
| Tractor Supply Company | 223 | 41,383 | 8.22 | % | ||||||||
| Pfizer, Inc. | 935 | 40,916 | 8.13 | % | ||||||||
| LyondellBasell Industries N.V. - Class A | 532 | 40,025 | 7.95 | % | ||||||||
| Albemarle Corporation | 149 | 39,380 | 7.82 | % | ||||||||
| Walgreens Boots Alliance, Inc. | 1,234 | 38,757 | 7.70 | % | ||||||||
| Target Corporation | 258 | 38,224 | 7.59 | % | ||||||||
| Sherwin-Williams Company (The) | 186 | 38,105 | 7.57 | % | ||||||||
| Lululemon Athletica, Inc. | 128 | 35,867 | 7.12 | % | ||||||||
| Steris Corporation | 213 | 35,368 | 7.03 | % | ||||||||
| Align Technology, Inc. | 170 | 35,210 | 6.99 | % | ||||||||
| West Company, Inc. | 143 | 35,110 | 6.97 | % | ||||||||
| $ | 503,499 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS627) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Dollar General Corporation | 148 | $ | 35,578 | 7.15 | % | |||||||
| Tractor Supply Company | 181 | 33,623 | 6.76 | % | ||||||||
| Ulta Beauty, Inc. | 82 | 32,963 | 6.62 | % | ||||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Albemarle Corporation | 123 | $ | 32,641 | 6.56 | % | |||||||
| AT&T, Inc. | 2,109 | 32,354 | 6.50 | % | ||||||||
| LyondellBasell Industries N.V. - Class A | 430 | 32,347 | 6.50 | % | ||||||||
| Cognizant Technology Solutions Corporation | 553 | 31,748 | 6.38 | % | ||||||||
| Walgreens Boots Alliance, Inc. | 1,001 | 31,423 | 6.31 | % | ||||||||
| Target Corporation | 211 | 31,288 | 6.29 | % | ||||||||
| Sherwin-Williams Company (The) | 151 | 30,890 | 6.21 | % | ||||||||
| Capital One Financial Corporation | 334 | 30,773 | 6.18 | % | ||||||||
| Mettler-Toledo International, Inc. | 28 | 30,234 | 6.07 | % | ||||||||
| Lululemon Athletica, Inc. | 104 | 29,051 | 5.84 | % | ||||||||
| Align Technology, Inc. | 137 | 28,350 | 5.70 | % | ||||||||
| General Motors Company | 872 | 27,974 | 5.62 | % | ||||||||
| Ford Motor Company | 2,359 | 26,419 | 5.31 | % | ||||||||
| $ | 497,656 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS628) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| LyondellBasell Industries N.V. - Class A | 647 | $ | 48,672 | 9.60 | % | |||||||
| Discover Financial Services | 532 | 48,371 | 9.54 | % | ||||||||
| Cognizant Technology Solutions Corporation | 834 | 47,913 | 9.45 | % | ||||||||
| Capital One Financial Corporation | 519 | 47,808 | 9.42 | % | ||||||||
| AT&T, Inc. | 3,114 | 47,769 | 9.42 | % | ||||||||
| Canadian Imperial Bank of Commerce | 1,088 | 47,631 | 9.39 | % | ||||||||
| Albemarle Corporation | 176 | 46,493 | 9.17 | % | ||||||||
| Sherwin-Williams Company (The) | 227 | 46,482 | 9.16 | % | ||||||||
| Mettler-Toledo International, Inc. | 41 | 44,716 | 8.82 | % | ||||||||
| General Motors Company | 1,293 | 41,496 | 8.18 | % | ||||||||
| Ford Motor Company | 3,556 | 39,822 | 7.85 | % | ||||||||
| $ | 507,173 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS629) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| LyondellBasell Industries N.V. - Class A | 665 | $ | 50,071 | 9.84 | % | |||||||
| Discover Financial Services | 530 | 48,233 | 9.48 | % | ||||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Capital One Financial Corporation | 522 | $ | 48,118 | 9.45 | % | |||||||
| AT&T, Inc. | 3,133 | 48,065 | 9.44 | % | ||||||||
| Canadian Imperial Bank of Commerce | 1,090 | 47,705 | 9.37 | % | ||||||||
| Sherwin-Williams Company (The) | 233 | 47,636 | 9.36 | % | ||||||||
| Caterpillar, Inc. | 285 | 46,692 | 9.17 | % | ||||||||
| Mettler-Toledo International, Inc. | 42 | 45,571 | 8.95 | % | ||||||||
| Albemarle Corporation | 171 | 45,254 | 8.89 | % | ||||||||
| General Motors Company | 1,294 | 41,511 | 8.16 | % | ||||||||
| Ford Motor Company | 3,584 | 40,144 | 7.89 | % | ||||||||
| $ | 509,000 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS630) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| O'Reilly Automotive, Inc. | 30 | $ | 20,949 | 4.01 | % | |||||||
| Dollar General Corporation | 85 | 20,434 | 3.91 | % | ||||||||
| Tractor Supply Company | 109 | 20,291 | 3.88 | % | ||||||||
| Genuine Parts Company | 133 | 19,841 | 3.80 | % | ||||||||
| LyondellBasell Industries N.V. - Class A | 261 | 19,629 | 3.76 | % | ||||||||
| Pfizer, Inc. | 447 | 19,544 | 3.74 | % | ||||||||
| Ulta Beauty, Inc. | 49 | 19,475 | 3.73 | % | ||||||||
| Costco Wholesale Corporation | 41 | 19,245 | 3.68 | % | ||||||||
| CVS Health Corporation | 201 | 19,126 | 3.66 | % | ||||||||
| Cognizant Technology Solutions Corporation | 331 | 18,997 | 3.64 | % | ||||||||
| Albemarle Corporation | 72 | 18,922 | 3.62 | % | ||||||||
| Walgreens Boots Alliance, Inc. | 599 | 18,822 | 3.60 | % | ||||||||
| AT&T, Inc. | 1,224 | 18,779 | 3.60 | % | ||||||||
| Sherwin-Williams Company (The) | 92 | 18,765 | 3.59 | % | ||||||||
| Starbucks Corporation | 222 | 18,747 | 3.59 | % | ||||||||
| Canadian Imperial Bank of Commerce | 423 | 18,516 | 3.55 | % | ||||||||
| Discover Financial Services | 203 | 18,487 | 3.54 | % | ||||||||
| Restaurant Brands International, Inc. | 347 | 18,475 | 3.54 | % | ||||||||
| Target Corporation | 124 | 18,451 | 3.53 | % | ||||||||
| Caterpillar, Inc. | 112 | 18,448 | 3.53 | % | ||||||||
| West Company, Inc. | 75 | 18,445 | 3.53 | % | ||||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Capital One Financial Corporation | 200 | $ | 18,402 | 3.52 | % | |||||||
| HCA Healthcare, Inc. | 98 | 18,046 | 3.46 | % | ||||||||
| Mettler-Toledo International, Inc. | 16 | 17,884 | 3.42 | % | ||||||||
| Steris Corporation | 103 | 17,113 | 3.28 | % | ||||||||
| Lululemon Athletica, Inc. | 61 | 16,940 | 3.24 | % | ||||||||
| General Motors Company | 505 | 16,193 | 3.10 | % | ||||||||
| Ford Motor Company | 1,378 | 15,433 | 2.95 | % | ||||||||
| $ | 522,399 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS631) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| O'Reilly Automotive, Inc. | 29 | $ | 20,700 | 3.94 | % | |||||||
| Home Depot, Inc. (The) | 74 | 20,409 | 3.88 | % | ||||||||
| Dollar General Corporation | 84 | 20,082 | 3.82 | % | ||||||||
| Tractor Supply Company | 107 | 19,966 | 3.80 | % | ||||||||
| LyondellBasell Industries N.V. - Class A | 265 | 19,916 | 3.79 | % | ||||||||
| Genuine Parts Company | 132 | 19,703 | 3.75 | % | ||||||||
| Ulta Beauty, Inc. | 49 | 19,559 | 3.72 | % | ||||||||
| Pfizer, Inc. | 443 | 19,404 | 3.69 | % | ||||||||
| Costco Wholesale Corporation | 40 | 19,120 | 3.63 | % | ||||||||
| CVS Health Corporation | 200 | 19,073 | 3.63 | % | ||||||||
| Sherwin-Williams Company (The) | 92 | 18,862 | 3.59 | % | ||||||||
| Cognizant Technology Solutions Corporation | 328 | 18,849 | 3.58 | % | ||||||||
| Starbucks Corporation | 224 | 18,835 | 3.58 | % | ||||||||
| Albemarle Corporation | 71 | 18,785 | 3.57 | % | ||||||||
| West Company, Inc. | 76 | 18,737 | 3.56 | % | ||||||||
| Canadian Imperial Bank of Commerce | 428 | 18,717 | 3.56 | % | ||||||||
| AT&T, Inc. | 1,219 | 18,704 | 3.56 | % | ||||||||
| Walgreens Boots Alliance, Inc. | 596 | 18,701 | 3.56 | % | ||||||||
| CDW Corporation | 119 | 18,648 | 3.55 | % | ||||||||
| Capital One Financial Corporation | 201 | 18,502 | 3.52 | % | ||||||||
| Mettler-Toledo International, Inc. | 17 | 18,463 | 3.51 | % | ||||||||
| Target Corporation | 124 | 18,458 | 3.51 | % | ||||||||
| Discover Financial Services | 202 | 18,390 | 3.50 | % | ||||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Restaurant Brands International, Inc. | 344 | $ | 18,320 | 3.48 | % | |||||||
| HCA Healthcare, Inc. | 97 | 17,891 | 3.40 | % | ||||||||
| Lululemon Athletica, Inc. | 61 | 17,123 | 3.25 | % | ||||||||
| General Motors Company | 511 | 16,387 | 3.12 | % | ||||||||
| Ford Motor Company | 1,387 | 15,530 | 2.95 | % | ||||||||
| $ | 525,834 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS632) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| LyondellBasell Industries N.V. - Class A | 671 | $ | 50,518 | 9.93 | % | |||||||
| Sherwin-Williams Company (The) | 235 | 48,039 | 9.44 | % | ||||||||
| AT&T, Inc. | 3,124 | 47,927 | 9.42 | % | ||||||||
| Cognizant Technology Solutions Corporation | 828 | 47,584 | 9.35 | % | ||||||||
| Canadian Imperial Bank of Commerce | 1,083 | 47,373 | 9.31 | % | ||||||||
| Mettler-Toledo International, Inc. | 43 | 47,118 | 9.26 | % | ||||||||
| Capital One Financial Corporation | 511 | 47,096 | 9.26 | % | ||||||||
| Albemarle Corporation | 176 | 46,631 | 9.17 | % | ||||||||
| Discover Financial Services | 513 | 46,598 | 9.16 | % | ||||||||
| General Motors Company | 1,265 | 40,598 | 7.98 | % | ||||||||
| Ford Motor Company | 3,507 | 39,281 | 7.72 | % | ||||||||
| $ | 508,763 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS633) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| LyondellBasell Industries N.V. - Class A | 674 | $ | 50,734 | 9.70 | % | |||||||
| Sherwin-Williams Company (The) | 238 | 48,782 | 9.33 | % | ||||||||
| Mettler-Toledo International, Inc. | 45 | 48,411 | 9.26 | % | ||||||||
| Canadian Imperial Bank of Commerce | 1,106 | 48,378 | 9.25 | % | ||||||||
| Cognizant Technology Solutions Corporation | 841 | 48,333 | 9.24 | % | ||||||||
| AT&T, Inc. | 3,148 | 48,295 | 9.23 | % | ||||||||
| Albemarle Corporation | 181 | 47,929 | 9.17 | % | ||||||||
| Capital One Financial Corporation | 514 | 47,405 | 9.06 | % | ||||||||
| Discover Financial Services | 520 | 47,265 | 9.04 | % | ||||||||
| Ford Motor Company | 3,983 | 44,609 | 8.53 | % | ||||||||
| General Motors Company | 1,335 | 42,833 | 8.19 | % | ||||||||
| $ | 522,974 | 100.00 | % | |||||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS634) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| LyondellBasell Industries N.V. - Class A | 503 | $ | 37,855 | 7.08 | % | |||||||
| Old Dominion Freight Line, Inc. | 151 | 37,639 | 7.04 | % | ||||||||
| Sherwin-Williams Company (The) | 178 | 36,449 | 6.82 | % | ||||||||
| Cognizant Technology Solutions Corporation | 634 | 36,394 | 6.81 | % | ||||||||
| Caterpillar, Inc. | 221 | 36,324 | 6.80 | % | ||||||||
| CF Industries Holdings, Inc. | 374 | 36,027 | 6.74 | % | ||||||||
| AT&T, Inc. | 2,343 | 35,935 | 6.72 | % | ||||||||
| Canadian Imperial Bank of Commerce | 820 | 35,893 | 6.71 | % | ||||||||
| Mettler-Toledo International, Inc. | 33 | 35,575 | 6.65 | % | ||||||||
| Rockwell Automation, Inc. | 165 | 35,439 | 6.63 | % | ||||||||
| Discover Financial Services | 389 | 35,363 | 6.62 | % | ||||||||
| Albemarle Corporation | 134 | 35,317 | 6.61 | % | ||||||||
| Capital One Financial Corporation | 383 | 35,266 | 6.60 | % | ||||||||
| Ford Motor Company | 2,917 | 32,670 | 6.11 | % | ||||||||
| General Motors Company | 1,010 | 32,419 | 6.06 | % | ||||||||
| $ | 534,565 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS635) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Old Dominion Freight Line, Inc. | 86 | $ | 21,434 | 3.96 | % | |||||||
| LyondellBasell Industries N.V. - Class A | 280 | 21,103 | 3.90 | % | ||||||||
| Cintas Corporation | 54 | 21,024 | 3.89 | % | ||||||||
| Sherwin-Williams Company (The) | 101 | 20,721 | 3.83 | % | ||||||||
| Automatic Data Processing, Inc. | 91 | 20,664 | 3.82 | % | ||||||||
| Hershey Company (The) | 93 | 20,584 | 3.81 | % | ||||||||
| Albemarle Corporation | 77 | 20,459 | 3.78 | % | ||||||||
| Constellation Brands, Inc. | 89 | 20,441 | 3.78 | % | ||||||||
| PepsiCo, Inc. | 125 | 20,389 | 3.77 | % | ||||||||
| Hormel Foods Corporation | 448 | 20,335 | 3.76 | % | ||||||||
| Capital One Financial Corporation | 221 | 20,328 | 3.76 | % | ||||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Caterpillar, Inc. | 123 | $ | 20,257 | 3.74 | % | |||||||
| Cognizant Technology Solutions Corporation | 352 | 20,225 | 3.74 | % | ||||||||
| Discover Financial Services | 222 | 20,158 | 3.73 | % | ||||||||
| Rockwell Automation, Inc. | 94 | 20,130 | 3.72 | % | ||||||||
| Mettler-Toledo International, Inc. | 19 | 20,102 | 3.72 | % | ||||||||
| General Mills, Inc. | 261 | 19,969 | 3.69 | % | ||||||||
| CF Industries Holdings, Inc. | 207 | 19,960 | 3.69 | % | ||||||||
| Kellogg Company | 286 | 19,926 | 3.68 | % | ||||||||
| AT&T, Inc. | 1,297 | 19,889 | 3.68 | % | ||||||||
| Altria Group, Inc. | 487 | 19,649 | 3.63 | % | ||||||||
| International Flavors & Fragrances, Inc. | 216 | 19,583 | 3.62 | % | ||||||||
| McCormick & Company, Inc. | 275 | 19,572 | 3.62 | % | ||||||||
| Sysco Corporation | 272 | 19,241 | 3.56 | % | ||||||||
| Ford Motor Company | 1,649 | 18,467 | 3.41 | % | ||||||||
| Philip Morris International, Inc. | 220 | 18,246 | 3.37 | % | ||||||||
| General Motors Company | 563 | 18,076 | 3.34 | % | ||||||||
| $ | 540,932 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS636) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| LyondellBasell Industries N.V. - Class A | 335 | $ | 25,215 | 4.60 | % | |||||||
| Old Dominion Freight Line, Inc. | 99 | 24,551 | 4.48 | % | ||||||||
| Blackstone, Inc. | 293 | 24,537 | 4.48 | % | ||||||||
| Caterpillar, Inc. | 149 | 24,454 | 4.46 | % | ||||||||
| Cintas Corporation | 63 | 24,372 | 4.45 | % | ||||||||
| Eaton Corporation PLC | 182 | 24,336 | 4.44 | % | ||||||||
| Constellation Brands, Inc. | 106 | 24,311 | 4.43 | % | ||||||||
| Pfizer, Inc. | 555 | 24,301 | 4.43 | % | ||||||||
| Hershey Company (The) | 109 | 24,099 | 4.40 | % | ||||||||
| Automatic Data Processing, Inc. | 106 | 24,044 | 4.39 | % | ||||||||
| Rockwell Automation, Inc. | 111 | 23,960 | 4.37 | % | ||||||||
| Cognizant Technology Solutions Corporation | 416 | 23,892 | 4.36 | % | ||||||||
| Hormel Foods Corporation | 522 | 23,731 | 4.33 | % | ||||||||
| Sherwin-Williams Company (The) | 116 | 23,728 | 4.33 | % | ||||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| PepsiCo, Inc. | 145 | $ | 23,714 | 4.32 | % | |||||||
| General Mills, Inc. | 309 | 23,687 | 4.32 | % | ||||||||
| Fastenal Company | 513 | 23,616 | 4.31 | % | ||||||||
| HCA Healthcare, Inc. | 128 | 23,493 | 4.28 | % | ||||||||
| AT&T, Inc. | 1,529 | 23,454 | 4.28 | % | ||||||||
| Kellogg Company | 335 | 23,346 | 4.26 | % | ||||||||
| McCormick & Company, Inc. | 322 | 22,946 | 4.18 | % | ||||||||
| Ford Motor Company | 1,988 | 22,271 | 4.06 | % | ||||||||
| General Motors Company | 690 | 22,139 | 4.04 | % | ||||||||
| $ | 548,197 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS637) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| LyondellBasell Industries N.V. - Class A | 701 | $ | 52,806 | 9.71 | % | |||||||
| Caterpillar, Inc. | 311 | 51,100 | 9.39 | % | ||||||||
| Old Dominion Freight Line, Inc. | 204 | 50,827 | 9.34 | % | ||||||||
| Pfizer, Inc. | 1,155 | 50,565 | 9.30 | % | ||||||||
| HCA Healthcare, Inc. | 270 | 49,712 | 9.14 | % | ||||||||
| Sherwin-Williams Company (The) | 242 | 49,616 | 9.12 | % | ||||||||
| AT&T, Inc. | 3,232 | 49,579 | 9.12 | % | ||||||||
| Cognizant Technology Solutions Corporation | 863 | 49,567 | 9.11 | % | ||||||||
| Ford Motor Company | 4,224 | 47,308 | 8.70 | % | ||||||||
| Apple, Inc. | 336 | 46,423 | 8.54 | % | ||||||||
| General Motors Company | 1,445 | 46,382 | 8.53 | % | ||||||||
| $ | 543,885 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS638) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| LyondellBasell Industries N.V. - Class A | 506 | $ | 38,126 | 7.00 | % | |||||||
| Caterpillar, Inc. | 228 | 37,488 | 6.89 | % | ||||||||
| CF Industries Holdings, Inc. | 387 | 37,260 | 6.84 | % | ||||||||
| Starbucks Corporation | 440 | 37,105 | 6.81 | % | ||||||||
| Target Corporation | 250 | 37,093 | 6.81 | % | ||||||||
| HCA Healthcare, Inc. | 201 | 37,009 | 6.80 | % | ||||||||
| Old Dominion Freight Line, Inc. | 149 | 36,968 | 6.79 | % | ||||||||
| Pfizer, Inc. | 842 | 36,836 | 6.76 | % | ||||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2022 (Unaudited)
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Costco Wholesale Corporation | 78 | $ | 36,645 | 6.73 | % | |||||||
| Albemarle Corporation | 138 | 36,392 | 6.68 | % | ||||||||
| Walgreens Boots Alliance, Inc. | 1,144 | 35,935 | 6.60 | % | ||||||||
| Ford Motor Company | 3,116 | 34,901 | 6.41 | % | ||||||||
| Lululemon Athletica, Inc. | 124 | 34,678 | 6.37 | % | ||||||||
| General Motors Company | 1,069 | 34,312 | 6.30 | % | ||||||||
| Apple, Inc. | 245 | 33,797 | 6.21 | % | ||||||||
| $ | 544,545 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS639) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Eaton Corporation PLC | 81 | $ | 10,754 | 1.98 | % | |||||||
| Dollar General Corporation | 45 | 10,747 | 1.97 | % | ||||||||
| W. W. Grainger, Inc. | 22 | 10,697 | 1.97 | % | ||||||||
| Rockwell Automation, Inc. | 50 | 10,688 | 1.96 | % | ||||||||
| Allstate Corporation (The) | 85 | 10,637 | 1.95 | % | ||||||||
| Pfizer, Inc. | 243 | 10,635 | 1.95 | % | ||||||||
| Cintas Corporation | 27 | 10,624 | 1.95 | % | ||||||||
| Agilent Technologies, Inc. | 87 | 10,609 | 1.95 | % | ||||||||
| PACCAR, Inc. | 127 | 10,591 | 1.95 | % | ||||||||
| Cummins, Inc. | 52 | 10,587 | 1.95 | % | ||||||||
| Ulta Beauty, Inc. | 26 | 10,586 | 1.95 | % | ||||||||
| O'Reilly Automotive, Inc. | 15 | 10,583 | 1.94 | % | ||||||||
| Caterpillar, Inc. | 64 | 10,561 | 1.94 | % | ||||||||
| Genuine Parts Company | 71 | 10,561 | 1.94 | % | ||||||||
| Prologis, Inc. | 104 | 10,556 | 1.94 | % | ||||||||
| Mettler-Toledo International, Inc. | 10 | 10,555 | 1.94 | % | ||||||||
| Canadian Imperial Bank of Commerce | 241 | 10,550 | 1.94 | % | ||||||||
| Emerson Electric Company | 144 | 10,539 | 1.94 | % | ||||||||
| Amgen, Inc. | 47 | 10,537 | 1.94 | % | ||||||||
| Motorola Solutions, Inc. | 47 | 10,532 | 1.94 | % | ||||||||
| Automatic Data Processing, Inc. | 47 | 10,530 | 1.94 | % | ||||||||
| Hershey Company (The) | 48 | 10,520 | 1.93 | % | ||||||||
| McDonald's Corporation | 46 | 10,515 | 1.93 | % | ||||||||
| General Mills, Inc. | 137 | 10,499 | 1.93 | % | ||||||||
| CVS Health Corporation | 110 | 10,491 | 1.93 | % | ||||||||
| Old Dominion Freight Line, Inc. | 42 | 10,486 | 1.93 | % | ||||||||
| Ecolab, Inc. | 73 | 10,485 | 1.93 | % | ||||||||
| Cognizant Technology Solutions Corporation | 182 | 10,466 | 1.92 | % | ||||||||
| AT&T, Inc. | 682 | 10,464 | 1.92 | % | ||||||||
| Hormel Foods Corporation | 230 | 10,455 | 1.92 | % | ||||||||
CRM LONG/SHORT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS (Concluded)
September 30, 2022 (Unaudited)
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| PepsiCo, Inc. | 64 | $ | 10,452 | 1.92 | % | |||||||
| Fastenal Company | 227 | 10,446 | 1.92 | % | ||||||||
| Constellation Brands, Inc. | 45 | 10,446 | 1.92 | % | ||||||||
| Starbucks Corporation | 124 | 10,445 | 1.92 | % | ||||||||
| Costco Wholesale Corporation | 22 | 10,444 | 1.92 | % | ||||||||
| Tractor Supply Company | 56 | 10,440 | 1.92 | % | ||||||||
| CDW Corporation | 67 | 10,438 | 1.92 | % | ||||||||
| United Parcel Service - Class B | 65 | 10,437 | 1.92 | % | ||||||||
| Moody's Corporation | 43 | 10,418 | 1.91 | % | ||||||||
| Realty Income Corporation | 179 | 10,410 | 1.91 | % | ||||||||
| Kroger Company (The) | 238 | 10,394 | 1.91 | % | ||||||||
| CF Industries Holdings, Inc. | 108 | 10,371 | 1.91 | % | ||||||||
| Sysco Corporation | 146 | 10,352 | 1.90 | % | ||||||||
| Kellogg Company | 148 | 10,341 | 1.90 | % | ||||||||
| Restaurant Brands International, Inc. | 194 | 10,298 | 1.89 | % | ||||||||
| International Flavors & Fragrances, Inc. | 113 | 10,295 | 1.89 | % | ||||||||
| Target Corporation | 69 | 10,280 | 1.89 | % | ||||||||
| McCormick & Company, Inc. | 144 | 10,256 | 1.88 | % | ||||||||
| Estee Lauder Companies, Inc. (The) | 47 | 10,219 | 1.88 | % | ||||||||
| Walgreens Boots Alliance, Inc. | 325 | 10,213 | 1.88 | % | ||||||||
| Apple, Inc. | 72 | 9,959 | 1.83 | % | ||||||||
| Lululemon Athletica, Inc. | 35 | 9,759 | 1.79 | % | ||||||||
| $ | 544,153 | 100.00 | % | |||||||||
The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCMS640) Index total return swap with Morgan Stanley Bank as of September 30, 2022, termination date 8/1/23:
| Reference Entity | Shares | Market Value | % of Total Index Value | |||||||||
| Albemarle Corporation | 175 | $ | 46,366 | 8.49 | % | |||||||
| Walgreens Boots Alliance, Inc. | 1,475 | 46,320 | 8.48 | % | ||||||||
| Pfizer, Inc. | 1,054 | 46,120 | 8.45 | % | ||||||||
| Costco Wholesale Corporation | 97 | 45,890 | 8.41 | % | ||||||||
| Sherwin-Williams Company (The) | 224 | 45,850 | 8.40 | % | ||||||||
| Cognizant Technology Solutions Corporation | 796 | 45,737 | 8.38 | % | ||||||||
| Target Corporation | 307 | 45,499 | 8.33 | % | ||||||||
| Ford Motor Company | 4,058 | 45,446 | 8.32 | % | ||||||||
| Starbucks Corporation | 538 | 45,300 | 8.30 | % | ||||||||
| Apple, Inc. | 327 | 45,144 | 8.27 | % | ||||||||
| General Motors Company | 1,399 | 44,905 | 8.23 | % | ||||||||
| Lululemon Athletica, Inc. | 155 | 43,339 | 7.94 | % | ||||||||
| $ | 545,916 | 100.00 | % | |||||||||