Schedule of Investments - March 31, 2024
|
||||||||
Hotchkis & Wiley Diversified Value Fund (Unaudited)
|
||||||||
Shares
|
||||||||
COMMON STOCKS - 98.30%
|
Held
|
Value
|
||||||
COMMUNICATION SERVICES - 6.59%
|
||||||||
Entertainment - 0.59%
|
||||||||
Warner Bros. Discovery, Inc. (a)
|
78,600
|
$
|
686,178
|
|||||
Interactive Media & Services - 2.28%
|
||||||||
Alphabet, Inc. (a)
|
17,700
|
2,671,461
|
||||||
Media - 3.07%
|
||||||||
Comcast Corp.
|
60,800
|
2,635,680
|
||||||
Omnicom Group, Inc.
|
6,400
|
619,264
|
||||||
Paramount Global
|
29,000
|
341,330
|
||||||
3,596,274
|
||||||||
Wireless Telecommunication Services - 0.65%
|
||||||||
Vodafone Group PLC - ADR
|
84,963
|
756,171
|
||||||
TOTAL COMMUNICATION SERVICES
|
7,710,084
|
|||||||
CONSUMER DISCRETIONARY - 6.96%
|
||||||||
Automobile Components - 3.30%
|
||||||||
Adient PLC (a)
|
10,274
|
338,220
|
||||||
Aptiv PLC (a)
|
14,600
|
1,162,890
|
||||||
BorgWarner, Inc.
|
15,400
|
534,996
|
||||||
Magna International, Inc.
|
33,600
|
1,830,528
|
||||||
3,866,634
|
||||||||
Automobiles - 3.13%
|
||||||||
General Motors Company
|
80,800
|
3,664,280
|
||||||
Hotels, Restaurants & Leisure - 0.53%
|
||||||||
Booking Holdings, Inc.
|
170
|
616,740
|
||||||
TOTAL CONSUMER DISCRETIONARY
|
8,147,654
|
|||||||
CONSUMER STAPLES - 2.71%
|
||||||||
Beverages - 0.17%
|
||||||||
Anheuser-Busch InBev SA/NV - ADR
|
3,300
|
200,574
|
||||||
Food Products - 0.59%
|
||||||||
Conagra Brands, Inc.
|
23,400
|
693,576
|
||||||
Personal Care Products - 1.95%
|
||||||||
Unilever PLC - ADR
|
45,400
|
2,278,626
|
||||||
TOTAL CONSUMER STAPLES
|
3,172,776
|
|||||||
ENERGY - 13.43%
|
||||||||
Energy Equipment & Services - 3.58%
|
||||||||
Baker Hughes Company
|
23,200
|
777,200
|
||||||
Halliburton Company
|
21,200
|
835,704
|
||||||
NOV, Inc.
|
108,400
|
2,115,968
|
||||||
Schlumberger NV
|
8,400
|
460,404
|
||||||
4,189,276
|
||||||||
Oil, Gas & Consumable Fuels - 9.85%
|
||||||||
APA Corp.
|
108,900
|
3,743,982
|
||||||
Cenovus Energy, Inc.
|
38,100
|
761,619
|
||||||
Marathon Oil Corp.
|
106,550
|
3,019,627
|
||||||
Murphy Oil Corp.
|
14,000
|
639,800
|
||||||
Ovintiv, Inc.
|
25,800
|
1,339,020
|
||||||
Shell PLC - ADR
|
30,262
|
2,028,764
|
||||||
11,532,812
|
||||||||
TOTAL ENERGY
|
15,722,088
|
|||||||
FINANCIALS - 28.15%
|
||||||||
Banks - 13.65%
|
||||||||
Bank of America Corp.
|
23,200
|
879,744
|
||||||
Citigroup, Inc.
|
72,374
|
4,576,932
|
||||||
Citizens Financial Group, Inc.
|
73,000
|
2,649,170
|
||||||
First Citizens BancShares, Inc.
|
352
|
575,520
|
||||||
U.S. Bancorp
|
63,000
|
2,816,100
|
||||||
Wells Fargo & Company
|
77,234
|
4,476,482
|
||||||
15,973,948
|
||||||||
Capital Markets - 4.98%
|
||||||||
The Bank of New York Mellon Corp.
|
33,900
|
1,953,318
|
||||||
The Goldman Sachs Group, Inc.
|
5,390
|
2,251,349
|
||||||
State Street Corp.
|
21,100
|
1,631,452
|
||||||
5,836,119
|
||||||||
Consumer Finance - 1.20%
|
||||||||
Capital One Financial Corp.
|
4,600
|
684,894
|
||||||
Discover Financial Services
|
5,500
|
720,995
|
||||||
1,405,889
|
||||||||
Financial Services - 3.72%
|
||||||||
Corebridge Financial, Inc. (l)
|
51,200
|
1,470,976
|
||||||
Fidelity National Information Services, Inc.
|
38,900
|
2,885,602
|
||||||
4,356,578
|
||||||||
Insurance - 4.60%
|
||||||||
American International Group, Inc.
|
34,300
|
2,681,231
|
||||||
The Hartford Financial Services Group, Inc.
|
26,200
|
2,699,910
|
||||||
5,381,141
|
||||||||
TOTAL FINANCIALS
|
32,953,675
|
|||||||
HEALTH CARE - 15.57%
|
||||||||
Health Care Equipment & Supplies - 4.80%
|
||||||||
GE HealthCare Technologies, Inc.
|
23,512
|
2,137,476
|
||||||
Medtronic PLC
|
31,882
|
2,778,516
|
||||||
Zimmer Biomet Holdings, Inc.
|
5,340
|
704,773
|
||||||
5,620,765
|
||||||||
Health Care Providers & Services - 9.78%
|
||||||||
Centene Corp. (a)
|
18,700
|
1,467,576
|
||||||
The Cigna Group
|
3,900
|
1,416,441
|
||||||
CVS Health Corp.
|
29,700
|
2,368,872
|
||||||
Elevance Health, Inc.
|
6,600
|
3,422,364
|
||||||
HCA Healthcare, Inc.
|
4,060
|
1,354,132
|
||||||
Humana, Inc.
|
2,400
|
832,128
|
||||||
Laboratory Corp. of America Holdings
|
2,700
|
589,842
|
||||||
11,451,355
|
||||||||
Pharmaceuticals - 0.99%
|
||||||||
GSK PLC - ADR
|
14,340
|
614,756
|
||||||
Sanofi SA - ADR
|
11,200
|
544,320
|
||||||
1,159,076
|
||||||||
TOTAL HEALTH CARE
|
18,231,196
|
|||||||
INDUSTRIALS - 10.57%
|
||||||||
Aerospace & Defense - 3.04%
|
||||||||
The Boeing Company (a)
|
7,660
|
1,478,303
|
||||||
General Dynamics Corp.
|
2,100
|
593,229
|
||||||
RTX Corp.
|
15,300
|
1,492,209
|
||||||
3,563,741
|
||||||||
Air Freight & Logistics - 1.89%
|
||||||||
FedEx Corp.
|
7,620
|
2,207,819
|
||||||
Construction & Engineering - 0.39%
|
||||||||
Fluor Corp. (a)
|
10,800
|
456,624
|
||||||
Industrial Conglomerates - 1.24%
|
||||||||
General Electric Company
|
8,237
|
1,445,841
|
||||||
Machinery - 4.01%
|
||||||||
CNH Industrial NV
|
93,000
|
1,205,280
|
||||||
Cummins, Inc. (l)
|
6,240
|
1,838,616
|
||||||
PACCAR, Inc.
|
8,400
|
1,040,676
|
||||||
The Timken Company
|
7,000
|
612,010
|
||||||
4,696,582
|
||||||||
TOTAL INDUSTRIALS
|
12,370,607
|
|||||||
INFORMATION TECHNOLOGY - 10.82%
|
||||||||
Communications Equipment - 5.87%
|
||||||||
F5, Inc. (a)
|
17,900
|
3,393,661
|
||||||
Telefonaktiebolaget LM Ericsson - ADR (l)
|
631,500
|
3,479,565
|
||||||
6,873,226
|
||||||||
Electronic Equipment, Instruments & Components - 2.00%
|
||||||||
Corning, Inc.
|
36,300
|
1,196,448
|
||||||
TE Connectivity Ltd.
|
7,900
|
1,147,396
|
||||||
2,343,844
|
||||||||
IT Services - 0.47%
|
||||||||
Cognizant Technology Solutions Corp.
|
7,400
|
542,346
|
||||||
Semiconductors & Semiconductor Equipment - 1.06%
|
||||||||
Micron Technology, Inc.
|
10,500
|
1,237,845
|
||||||
Software - 1.42%
|
||||||||
Microsoft Corp.
|
2,000
|
841,440
|
||||||
Oracle Corp.
|
6,550
|
822,746
|
||||||
1,664,186
|
||||||||
TOTAL INFORMATION TECHNOLOGY
|
12,661,447
|
|||||||
MATERIALS - 1.64%
|
||||||||
Chemicals - 1.36%
|
||||||||
Olin Corp.
|
27,100
|
1,593,480
|
||||||
Containers & Packaging - 0.28%
|
||||||||
International Paper Company
|
8,400
|
327,768
|
||||||
TOTAL MATERIALS
|
1,921,248
|
|||||||
UTILITIES - 1.86%
|
||||||||
Electric Utilities - 1.86%
|
||||||||
PPL Corp.
|
79,100
|
2,177,623
|
||||||
TOTAL UTILITIES
|
2,177,623
|
|||||||
Total common stocks (Cost $90,879,840)
|
115,068,398
|
|||||||
Total long-term investments (Cost $90,879,840)
|
115,068,398
|
|||||||
COLLATERAL FOR SECURITIES ON LOAN - 4.21%
|
||||||||
Money Market Funds - 4.21%
|
||||||||
Invesco Short-Term Investments Trust Government & Agency Portfolio - Institutional Class, 5.24%^
|
4,925,176
|
4,925,176
|
||||||
Total collateral for securities on loan (Cost $4,925,176)
|
4,925,176
|
|||||||
Principal
|
||||||||
SHORT-TERM INVESTMENTS - 2.17%
|
Amount
|
|||||||
Time Deposits - 2.17%
|
||||||||
Citigroup, Inc., 2.85%, 04/02/2024*
|
EUR 3
|
3
|
||||||
JPMorgan Chase & Company, 4.68%, 04/01/2024*
|
$
|
2,537,504
|
2,537,504
|
|||||
Total short-term investments (Cost $2,537,507)
|
2,537,507
|
|||||||
Total investments - 104.68% (Cost $98,342,523)
|
122,531,081
|
|||||||
Liabilities in excess of other assets - (4.68)%
|
(5,473,848
|
)
|
||||||
Net assets - 100.00%
|
$
|
117,057,233
|
(a)
|
- Non-income producing security.
|
||||
(l)
|
- All or a portion of this security is on loan. The total market value of securities on loan was $4,886,452. The remaining contractual maturity of all of the securities lending transactions is overnight and continuous.
|
||||
ADR
|
- American Depositary Receipt
|
||||
EUR
|
- Euro
|
||||
^
|
- Rate shown is the 7-day yield as of March 31, 2024.
|
||||
*
|
- Invested through a cash management account administered by Brown Brothers Harriman & Co.
|
||||
The Global Industry Classification Standard (GICS®) was
developed by MSCI, an independent provider of global indices and benchmark-related products and services, and Standard & Poor's (S&P), an independent international financial data and investment services company. The GICS methodology
has been widely accepted as an industry analysis framework for investment research, portfolio management and asset allocation. The GICS structure consists of 11 sectors, 25 industry groups, 74 industries and 163 sub-industries. Each stock
that is classified will have a coding at all four of these levels.
|
|||||
Level 1 --- Quoted prices in an active market:
|
||||
Common Stocks
|
$
|
115,068,398
|
||
Money Market Funds
|
4,925,176
|
|||
Level 2 --- Other significant observable market inputs:
|
||||
Time Deposits
|
2,537,507
|
|||
Level 3 --- Significant unobservable inputs
|
-
|
|||
Total Investments
|
$
|
122,531,081
|