BARROW HANLEY FUNDS
BARROW HANLEY CONCENTRATED EMERGING MARKETS ESG OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
 
Percentage
of Net
Assets
Shares
Value
COMMON STOCKS
89.6
%
Brazil
3.3
%
B3 S.A. - Brasil Bolsa Balcao
76,179
$204,430
China
20.9
%
China International Capital Corp. Ltd. - Class H(a)
76,676
172,888
China Mengniu Dairy Co. Ltd.
49,912
102,368
Great Wall Motor Co. Ltd. - Class H(b)
89,006
136,968
JD.com, Inc. - Class A
9,600
156,414
Li Ning Co. Ltd.
63,525
136,923
Longfor Group Holdings Ltd.(a)
83,410
98,393
Ping An Insurance Group Co. of China Ltd. - Class H
32,687
207,574
Sunny Optical Technology Group Co. Ltd.
15,025
132,738
Xinyi Glass Holdings Ltd.
155,525
149,384
 
1,293,650
Hong Kong
4.8
%
ASMPT Ltd.
15,557
114,052
Sino Biopharmaceutical Ltd.
270,763
181,430
 
295,482
India
5.1
%
UPL Ltd.
20,992
161,858
Wipro Ltd.
48,950
151,816
 
313,674
Indonesia
2.5
%
Telkom Indonesia Persero Tbk PT
897,050
153,606
Malaysia
2.2
%
Public Bank Bhd.
136,330
139,552
Mexico
4.1
%
Grupo Financiero Banorte S.A.B. de C.V., Series O
14,227
130,044
Kimberly-Clark de Mexico S.A.B. de C.V. - Class A
69,453
127,066
 
257,110
Saudi Arabia
2.9
%
Saudi National Bank (The)
18,600
179,131
South Africa
5.1
%
Absa Group Ltd.
9,359
93,042
Sibanye Stillwater Ltd.(b)
123,977
225,912
 
318,954
South Korea
16.6
%
Amorepacific Corp.
2,271
230,028
HL Mando Co. Ltd.
4,042
98,384
Korea Investment Holdings Co. Ltd.
2,001
206,980
Samsung Electro-Mechanics Co. Ltd.
1,861
185,741
SK Hynix, Inc.
1,411
305,285
 
1,026,418
Taiwan
14.2
%
Bizlink Holding, Inc.
6,479
188,080
1
BARROW HANLEY FUNDS
BARROW HANLEY CONCENTRATED EMERGING MARKETS ESG OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Shares
Value
Globalwafers Co. Ltd.
11,359
$117,237
Hiwin Technologies Corp.
22,914
164,725
Largan Precision Co. Ltd.
2,015
164,169
MediaTek, Inc.
5,674
242,794
 
877,005
Thailand
3.8
%
Kasikornbank PCL - REG
37,048
174,933
Siam Cement (The) PCL - REG
11,729
60,614
 
235,547
United Arab Emirates
2.5
%
First Abu Dhabi Bank PJSC
33,891
153,186
Vietnam
1.6
%
Vietnam Dairy Products JSC
45,500
101,032
TOTAL COMMON STOCKS (Cost $4,617,984)
5,548,777
PREFERRED STOCKS
5.0
%
Brazil
2.5
%
Banco Bradesco S.A.(b)
49,561
153,524
Colombia
2.5
%
Grupo Cibest S.A. - ADR, 3.04%(c)
3,443
159,032
TOTAL PREFERRED STOCKS (Cost $246,195)
312,556
SHORT-TERM INVESTMENTS
5.2
%
Northern Institutional Treasury Portfolio (Premier Class), 4.16%(d)
318,751
318,751
TOTAL SHORT-TERM INVESTMENTS (Cost $318,751)
318,751
TOTAL INVESTMENTS
(Cost $5,182,930)
99.8
%
6,180,084
NET OTHER ASSETS (LIABILITIES)
0.2
%
9,913
NET ASSETS
100.0
%
$6,189,997
 
(a)Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally
to qualified institutional buyers. As of June 30, 2025, these securities had a total value of $271,281 or 4% of net assets.
(b)Non-income producing security.
(c)Current yield is disclosed. Dividends are calculated based on a percentage of the issuer’s net income.
(d)7-day current yield as of June 30, 2025 is disclosed.
 
Abbreviations:
ADR – American Depositary Receipt
REG – Registered
2
BARROW HANLEY FUNDS
BARROW HANLEY CONCENTRATED EMERGING MARKETS ESG OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
At June 30, 2025 the industry sectors (excluding short-term investments) for the Barrow Hanley Concentrated Emerging Markets ESG Opportunities Fund were: 
Sector Allocation
% of Net Assets
Financials 
31.9%
Information Technology 
22.9 
Consumer Staples 
9.0 
Consumer Discretionary 
8.5 
Industrials 
8.1 
Materials 
7.2 
Health Care 
2.9 
Communication Services 
2.5 
Real Estate 
1.6 
Total
94.6%
3
BARROW HANLEY FUNDS
BARROW HANLEY CREDIT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
 
Percentage
of Net
Assets
Principal Amount
Value
ASSET-BACKED SECURITIES
2.9
%
Other Asset-Backed Securities
2.9
%
Elmwood CLO 29 Ltd., Series 2024-5A - Class ER
(Floating, 3M CME Term SOFR + 6.40%, 6.40% Floor)
10.67%, 04/20/37(a)(b)
$1,000,000
$1,012,497
Empower CLO Ltd., Series 2023-2A - Class D
(Floating, 3M CME Term SOFR + 5.40%, 5.40% Floor)
9.66%, 07/15/36(a)(b)
500,000
500,504
Katayma CLO II Ltd., Series 2024-2A - Class E
(Floating, 3M CME Term SOFR + 7.33%, 7.33% Floor)
11.60%, 04/20/37(a)(b)
250,000
249,168
PPM CLO 7 Ltd., Series 2024-7A - Class E
(Floating, 3M CME Term SOFR + 6.75%, 6.75% Floor)
11.02%, 07/20/37(a)(b)
400,000
398,000
AGL CLO 19 Ltd., Series 2022-19A - Class D2R
(Floating, 3M CME Term SOFR + 0.00%)
07/21/38(a)(b)(c)
750,000
750,000
 
2,910,169
TOTAL ASSET-BACKED SECURITIES (Cost $2,906,060)
2,910,169
CORPORATE BONDS
65.2
%
Aerospace & Defense
0.3
%
Goat Holdco LLC
6.75%, 02/01/32(a)
285,000
289,714
Automotive
1.9
%
Goodyear Tire & Rubber (The) Co.
5.63%, 04/30/33
500,000
478,729
Tenneco, Inc.
8.00%, 11/17/28(a)
1,500,000
1,483,346
 
1,962,075
Basic Industry
0.3
%
Avient Corp.
6.25%, 11/01/31(a)
315,000
317,945
Cable & Satellite
2.9
%
CCO Holdings LLC/CCO Holdings Capital Corp.,
4.75%, 03/01/30(a)
1,000,000
968,802
7.38%, 03/01/31(a)
750,000
782,558
CSC Holdings LLC,
11.75%, 01/31/29(a)
250,000
237,789
4.13%, 12/01/30(a)
750,000
529,134
4.63%, 12/01/30(a)
1,000,000
465,056
 
2,983,339
Chemicals
5.4
%
Chemours (The) Co.,
4.63%, 11/15/29(a)
1,500,000
1,305,652
8.00%, 01/15/33(a)
1,110,000
1,039,413
4
BARROW HANLEY FUNDS
BARROW HANLEY CREDIT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Mativ Holdings, Inc.
8.00%, 10/01/29(a)
$2,210,000
$2,002,429
WR Grace Holdings LLC
5.63%, 08/15/29(a)
1,250,000
1,131,483
 
5,478,977
Commercial Support Services
4.2
%
Allied Universal Holdco LLC
7.88%, 02/15/31(a)
635,000
663,380
Allied Universal Holdco LLC/Allied Universal Finance Corp.
6.88%, 06/15/30(a)
500,000
506,782
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4
S.a.r.l.
4.63%, 06/01/28(a)
125,000
121,217
Clean Harbors, Inc.
6.38%, 02/01/31(a)
125,000
128,065
Enviri Corp.
5.75%, 07/31/27(a)
1,572,000
1,551,505
Reworld Holding Corp.
4.88%, 12/01/29(a)
625,000
594,590
Waste Pro U.S.A., Inc.
7.00%, 02/01/33(a)
670,000
695,539
 
4,261,078
Construction Materials
0.4
%
Quikrete Holdings, Inc.
6.38%, 03/01/32(a)
290,000
298,213
Standard Building Solutions, Inc.
6.50%, 08/15/32(a)
145,000
148,572
 
446,785
Consumer Cyclical
0.2
%
Beach Acquisition Bidco LLC
07/15/33(a)(c)
200,000
207,303
Consumer Services
3.4
%
PROG Holdings, Inc.
6.00%, 11/15/29(a)
2,000,000
1,920,364
Upbound Group, Inc.
6.38%, 02/15/29(a)
1,500,000
1,483,864
 
3,404,228
Containers & Packaging
4.0
%
Ardagh Metal Packaging Finance U.S.A. LLC/Ardagh Metal Packaging Finance
PLC
4.00%, 09/01/29(a)
1,000,000
912,877
Graham Packaging Co., Inc.
7.13%, 08/15/28(a)
500,000
499,077
Graphic Packaging International LLC
3.75%, 02/01/30(a)
750,000
703,105
LABL, Inc.,
5.88%, 11/01/28(a)
250,000
218,615
9.50%, 11/01/28(a)
375,000
346,642
5
BARROW HANLEY FUNDS
BARROW HANLEY CREDIT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
8.25%, 11/01/29(a)
$375,000
$311,531
Mauser Packaging Solutions Holding Co.
7.88%, 04/15/27(a)
1,050,000
1,067,212
 
4,059,059
Electric
0.1
%
Alpha Generation LLC
6.75%, 10/15/32(a)
80,000
82,468
Electric Utilities
1.0
%
Vistra Corp.
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 5.74%)
7.00%, 12/15/26(a)(b)(d)
1,000,000
1,012,033
Electrical Equipment
0.7
%
WESCO Distribution, Inc.
6.63%, 03/15/32(a)
640,000
665,069
Engineering & Construction
0.8
%
Dycom Industries, Inc.
4.50%, 04/15/29(a)
800,000
778,634
Health Care Facilities & Services
1.7
%
Concentra Health Services, Inc.
6.88%, 07/15/32(a)
165,000
170,835
HAH Group Holding Co. LLC
9.75%, 10/01/31(a)
160,000
158,626
LifePoint Health, Inc.,
11.00%, 10/15/30(a)
375,000
413,699
8.38%, 02/15/32(a)
495,000
527,444
Pediatrix Medical Group, Inc.
5.38%, 02/15/30(a)
500,000
494,297
 
1,764,901
Home Construction
1.0
%
Ashton Woods U.S.A. LLC/Ashton Woods Finance Co.,
6.63%, 01/15/28(a)
250,000
251,032
4.63%, 04/01/30(a)
500,000
475,473
STL Holding Co. LLC
8.75%, 02/15/29(a)
320,000
334,313
 
1,060,818
Household Products
0.1
%
Energizer Holdings, Inc.
6.50%, 12/31/27(a)
50,000
50,569
Institutional Financial Services
0.8
%
Aretec Group, Inc.
10.00%, 08/15/30(a)
750,000
824,189
Insurance
1.5
%
Acrisure LLC/Acrisure Finance, Inc.
6.75%, 07/01/32(a)
1,500,000
1,521,259
IT Services
0.4
%
CACI International, Inc.
6.38%, 06/15/33(a)
430,000
443,738
6
BARROW HANLEY FUNDS
BARROW HANLEY CREDIT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Leisure Facilities & Services
0.5
%
Caesars Entertainment, Inc.
6.50%, 02/15/32(a)
$500,000
$513,058
Machinery
0.3
%
SPX FLOW, Inc.
8.75%, 04/01/30(a)
250,000
259,391
Medical Equipment & Devices
0.9
%
Insulet Corp.
6.50%, 04/01/33(a)
150,000
156,388
Sotera Health Holdings LLC
7.38%, 06/01/31(a)
750,000
780,332
 
936,720
Metals & Mining
0.7
%
Arsenal AIC Parent LLC
8.00%, 10/01/30(a)
250,000
266,798
Kaiser Aluminum Corp.
4.50%, 06/01/31(a)
500,000
467,755
 
734,553
Oil & Gas Supply Chain
4.3
%
CQP Holdco L.P./BIP-V Chinook Holdco LLC
5.50%, 06/15/31(a)
873,000
862,433
Genesis Energy L.P./Genesis Energy Finance Corp.
8.88%, 04/15/30
250,000
265,445
Global Partners L.P./GLP Finance Corp.
8.25%, 01/15/32(a)
1,750,000
1,840,444
ITT Holdings LLC
6.50%, 08/01/29(a)
1,445,000
1,374,124
 
4,342,446
Real Estate Investment Trusts
2.7
%
Iron Mountain, Inc.,
5.25%, 07/15/30(a)
500,000
493,161
5.63%, 07/15/32(a)
250,000
248,013
MPT Operating Partnership L.P./MPT Finance Corp.
8.50%, 02/15/32(a)
1,570,000
1,643,093
Service Properties Trust
8.63%, 11/15/31(a)
375,000
402,589
 
2,786,856
Real Estate Owners & Developers
2.9
%
Greystar Real Estate Partners LLC
7.75%, 09/01/30(a)
1,000,000
1,061,434
Howard Hughes (The) Corp.
4.38%, 02/01/31(a)
2,000,000
1,845,686
 
2,907,120
7
BARROW HANLEY FUNDS
BARROW HANLEY CREDIT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Real Estate Services
1.7
%
Cushman & Wakefield U.S. Borrower LLC
8.88%, 09/01/31(a)
$1,000,000
$1,073,835
Newmark Group, Inc.
7.50%, 01/12/29
655,000
692,872
 
1,766,707
Retail - Discretionary
1.8
%
Champions Financing, Inc.
8.75%, 02/15/29(a)
482,000
465,364
Cougar JV Subsidiary LLC
8.00%, 05/15/32(a)
35,000
37,306
PetSmart, Inc./PetSmart Finance Corp.
7.75%, 02/15/29(a)
500,000
485,871
QXO Building Products, Inc.
6.75%, 04/30/32(a)
345,000
355,419
Victra Holdings LLC/Victra Finance Corp.
8.75%, 09/15/29(a)
445,000
466,220
 
1,810,180
Semiconductors
0.5
%
Entegris, Inc.
5.95%, 06/15/30(a)
500,000
507,947
Specialty Finance
15.8
%
Bread Financial Holdings, Inc.,
9.75%, 03/15/29(a)
750,000
807,602
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 4.30%)
8.38%, 06/15/35(a)(b)
2,145,000
2,159,743
Burford Capital Global Finance LLC
9.25%, 07/01/31(a)
2,040,000
2,147,016
Freedom Mortgage Corp.,
6.63%, 01/15/27(a)
500,000
500,837
12.00%, 10/01/28(a)
500,000
537,712
Freedom Mortgage Holdings LLC,
9.13%, 05/15/31(a)
1,000,000
1,030,782
8.38%, 04/01/32(a)
145,000
146,563
ILFC E-Capital Trust I
6.43%, 12/21/65(a)(b)
2,455,000
2,052,722
ILFC E-Capital Trust II
6.68%, 12/21/65(a)(b)
1,000,000
849,460
Jefferies Finance LLC/JFIN Co-Issuer Corp.
6.63%, 10/15/31(a)
830,000
827,009
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.
7.00%, 07/15/31(a)
250,000
261,422
OneMain Finance Corp.
7.13%, 09/15/32
1,500,000
1,552,903
Rithm Capital Corp.,
8.00%, 04/01/29(a)
1,000,000
1,010,317
8.00%, 07/15/30(a)
1,250,000
1,256,250
8
BARROW HANLEY FUNDS
BARROW HANLEY CREDIT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Starwood Property Trust, Inc.,
6.00%, 04/15/30(a)
$160,000
$161,831
6.50%, 07/01/30(a)
150,000
154,929
6.50%, 10/15/30(a)
295,000
304,570
Walker & Dunlop, Inc.
6.63%, 04/01/33(a)
295,000
302,739
 
16,064,407
Steel
0.9
%
TMS International Corp.
6.25%, 04/15/29(a)
1,000,000
950,817
Transportation & Logistics
0.4
%
American Airlines, Inc./AAdvantage Loyalty IP Ltd.
5.50%, 04/20/26(a)
145,666
145,333
Stonepeak Nile Parent LLC
7.25%, 03/15/32(a)
290,000
307,416
 
452,749
Wholesale - Consumer Staples
0.7
%
KeHE Distributors LLC/KeHE Finance Corp./NextWave Distribution, Inc.
9.00%, 02/15/29(a)
645,000
667,996
TOTAL CORPORATE BONDS (Cost $65,615,422)
66,315,128
FOREIGN ISSUER BONDS
7.9
%
Automotive
4.5
%
Adient Global Holdings Ltd.,
8.25%, 04/15/31(a)
1,000,000
1,050,747
7.50%, 02/15/33(a)
1,495,000
1,528,789
Aptiv Swiss Holdings Ltd.
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 3.39%)
6.88%, 12/15/54(b)
1,045,000
1,055,387
Clarios Global L.P./Clarios U.S. Finance Co.
6.75%, 02/15/30(a)
865,000
899,416
 
4,534,339
Cable & Satellite
0.6
%
LCPR Senior Secured Financing DAC
5.13%, 07/15/29(a)
1,000,000
589,065
Chemicals
0.6
%
INEOS Finance PLC
7.50%, 04/15/29(a)
640,000
641,326
Containers & Packaging
0.5
%
Ardagh Metal Packaging Finance U.S.A. LLC/Ardagh Metal Packaging Finance
PLC
6.00%, 06/15/27(a)
125,000
125,384
Trivium Packaging Finance B.V.,
8.25%, 07/15/30(a)
200,000
211,497
12.25%, 01/15/31(a)
200,000
214,387
 
551,268
9
BARROW HANLEY FUNDS
BARROW HANLEY CREDIT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Leisure Facilities & Services
0.1
%
1011778 B.C. ULC/New Red Finance, Inc.
5.63%, 09/15/29(a)
$155,000
$157,189
Telecommunications
1.6
%
Total Play Telecomunicaciones S.A. de C.V.
11.13%, 12/31/32(a)
1,675,000
1,585,220
TOTAL FOREIGN ISSUER BONDS (Cost $8,213,526)
8,058,407
 
 
Percentage
of Net
Assets
Shares
Value
INVESTMENT COMPANIES
21.2
%
Barrow Hanley Floating Rate Fund†
2,224,970
21,533,764
TOTAL INVESTMENT COMPANIES (Cost $21,903,638)
21,533,764
SHORT-TERM INVESTMENTS
2.4
%
Northern Institutional Treasury Portfolio (Premier Class), 4.16%(e)
2,459,351
2,459,351
TOTAL SHORT-TERM INVESTMENTS (Cost $2,459,351)
2,459,351
TOTAL INVESTMENTS
(Cost $101,097,997)
99.6
%
101,276,819
NET OTHER ASSETS (LIABILITIES)
0.4
%
371,746
NET ASSETS
100.0
%
$101,648,565
 
(a)Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally
to qualified institutional buyers. As of June 30, 2025, these securities had a total value of $73,238,368 or 72% of net assets.
(b)Variable or floating rate security. The rate presented is the rate in effect at June 30, 2025, and the related index and spread are shown parenthetically for each security.
(c)When-Issued Security. Coupon rate is not in effect at June 30, 2025.
(d)Perpetual bond. Maturity date represents next call date.
(e)7-day current yield as of June 30, 2025 is disclosed.
†Investment in Affiliated Security.
 
Abbreviations:
CLO – Collateralized Loan Obligation
SOFR – Secured Overnight Financing Rate
The following is a summary of the Fund's transactions with affiliates for the period ended June 30, 2025. 
Security
Description
Value
09/30/2024
Purchases
at Cost
Proceeds
from Sales
Realized
Gain/ (Loss)
Change in Net
Unrealized
Appreciation
(Depreciation)
Value
06/30/2025
Income
Dividends
Received
Capital Gains
Dividends
Received
Barrow Hanley
Floating
Rate Fund
$19,476,068
$3,263,980
$(1,000,000)
$(10,833
)
$(195,451)
$21,533,764
$1,263,980
$—
10
BARROW HANLEY FUNDS
BARROW HANLEY CREDIT OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
At June 30, 2025 the Barrow Hanley Credit Opportunities Fund's investments were concentrated as follows: 
Fixed Income Credit Ratings
% of Net Assets
BBB- 
4.0%
BB+ 
2.8 
BB 
10.7 
BB- 
39.0 
B+ 
6.3 
B 
18.3 
B- 
9.8 
CCC+ 
1.7 
CCC 
2.0 
CCC- 
0.5 
Cash equivalents 
2.4 
N/A 
2.1 
Total
99.6%
11
BARROW HANLEY FUNDS
BARROW HANLEY EMERGING MARKETS VALUE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
 
Percentage
of Net
Assets
Shares
Value
COMMON STOCKS
97.3
%
Brazil
5.5
%
B3 S.A. - Brasil Bolsa Balcao
17,264
$46,329
Dexco S.A.
31,540
32,915
Lojas Renner S.A.(a)
14,009
50,744
TIM S.A.
10,152
41,202
 
171,190
Canada
1.6
%
Parex Resources, Inc.
4,881
49,858
China
20.4
%
Baidu, Inc. - Class A(a)
3,329
35,389
Budweiser Brewing Co. APAC Ltd.(b)
23,192
22,956
China International Capital Corp. Ltd. - Class H(b)
27,347
61,662
China Mengniu Dairy Co. Ltd.
19,828
40,667
China Merchants Bank Co. Ltd. - Class H
8,243
57,596
Chow Tai Fook Jewellery Group Ltd.
24,994
42,729
Great Wall Motor Co. Ltd. - Class H(a)
32,943
50,695
JD.com, Inc. - Class A
3,654
59,535
Li Ning Co. Ltd.
19,356
41,720
Longfor Group Holdings Ltd.(b)
24,000
28,311
Ping An Insurance Group Co. of China Ltd. - Class H
11,561
73,417
Shandong Weigao Group Medical Polymer Co., Ltd - Class H
48,000
37,361
Sunny Optical Technology Group Co. Ltd.
4,535
40,064
Xinyi Glass Holdings Ltd.
47,455
45,581
 
637,683
Hong Kong
4.7
%
ASMPT Ltd.
4,596
33,695
Galaxy Entertainment Group Ltd.
8,194
36,377
Sino Biopharmaceutical Ltd.
113,284
75,908
 
145,980
India
5.5
%
Axis Bank Ltd.
4,366
61,051
Petronet LNG Ltd.
10,204
35,921
UPL Ltd.
9,550
73,635
 
170,607
Indonesia
3.1
%
Astra International Tbk PT
154,422
42,803
Telkom Indonesia Persero Tbk PT
325,888
55,803
 
98,606
Malaysia
1.2
%
Public Bank Bhd.
38,098
38,998
Mexico
3.3
%
Grupo Financiero Banorte S.A.B. de C.V., Series O
6,026
55,081
Kimberly-Clark de Mexico S.A.B. de C.V. - Class A
26,175
47,888
 
102,969
12
BARROW HANLEY FUNDS
BARROW HANLEY EMERGING MARKETS VALUE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Shares
Value
Philippines
2.5
%
Ayala Land, Inc.
78,318
$37,539
BDO Unibank, Inc.
14,783
40,100
 
77,639
Russia
0.0
%
Alrosa PJSC(c)
12,058
—
Moscow Exchange MICEX-RTS PJSC(c)
8,812
—
 
—
Saudi Arabia
1.6
%
Saudi National Bank (The)
5,116
49,271
South Africa
5.4
%
Absa Group Ltd.
4,874
48,454
Bidvest Group Ltd.
2,178
28,729
Gold Fields Ltd.
1,975
46,384
Sibanye Stillwater Ltd.(a)
25,545
46,548
 
170,115
South Korea
20.7
%
Amorepacific Corp.
650
65,838
Hyundai Motor Co.
411
61,973
Korea Electric Power Corp.
2,638
76,818
Korea Investment Holdings Co. Ltd.
1,133
117,195
Samsung Electro-Mechanics Co. Ltd.
991
98,909
SK Hynix, Inc.
840
181,743
S-Oil Corp.
987
43,806
 
646,282
Taiwan
11.9
%
Bizlink Holding, Inc.
3,175
92,168
Globalwafers Co. Ltd.
4,173
43,070
Hiwin Technologies Corp.
8,921
64,131
Largan Precision Co. Ltd.
704
57,357
MediaTek, Inc.
2,694
115,278
 
372,004
Thailand
4.8
%
Kasikornbank PCL - REG
10,854
51,251
Siam Cement (The) PCL - REG
6,294
32,526
Srisawad Corp. PCL - REG
35,900
17,780
Thai Beverage PCL
136,905
49,529
 
151,086
United Arab Emirates
1.7
%
First Abu Dhabi Bank PJSC
12,130
54,827
United Kingdom
3.4
%
Fresnillo PLC
3,392
67,047
Investec PLC
5,077
37,981
 
105,028
TOTAL COMMON STOCKS (Cost $2,712,684)
3,042,143
13
BARROW HANLEY FUNDS
BARROW HANLEY EMERGING MARKETS VALUE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Shares
Value
PREFERRED STOCKS
3.4
%
Brazil
1.6
%
Banco Bradesco S.A.(a)
16,482
$51,056
Colombia
1.8
%
Grupo Cibest S.A. - ADR, 3.04%(d)
1,224
56,537
TOTAL PREFERRED STOCKS (Cost $86,540)
107,593
SHORT-TERM INVESTMENTS
0.8
%
Northern Institutional Treasury Portfolio (Premier Class), 4.16%(e)
23,799
23,799
TOTAL SHORT-TERM INVESTMENTS (Cost $23,799)
23,799
TOTAL INVESTMENTS
(Cost $2,823,023)
101.5
%
3,173,535
NET OTHER ASSETS (LIABILITIES)
(1.5
%)
(46,184
)
NET ASSETS
100.0
%
$3,127,351
 
(a)Non-income producing security.
(b)Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally
to qualified institutional buyers. As of June 30, 2025, these securities had a total value of $112,929 or 4% of net assets.
(c)Security valued pursuant to Level 3 unobservable inputs and is restricted for trading.
(d)Current yield is disclosed. Dividends are calculated based on a percentage of the issuer’s net income.
(e)7-day current yield as of June 30, 2025 is disclosed.
 
Abbreviations:
ADR – American Depositary Receipt
REG – Registered
At June 30, 2025 the industry sectors (excluding short-term investments) for the Barrow Hanley Emerging Markets Value Fund were: 
Sector Allocation
% of Net Assets
Financials 
29.3%
Information Technology 
18.3 
Consumer Discretionary 
11.0 
Materials 
9.7 
Industrials 
8.7 
Consumer Staples 
7.2 
Communication Services 
4.2 
Energy 
4.1 
Health Care 
3.6 
Utilities 
2.5 
Real Estate 
2.1 
Total
100.7%
14
BARROW HANLEY FUNDS
BARROW HANLEY FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
 
Percentage
of Net
Assets
Principal Amount
Value
ASSET-BACKED SECURITIES
2.9
%
Other Asset-Backed Securities
2.9
%
Empower CLO Ltd., Series 2023-2A - Class D
(Floating, 3M CME Term SOFR + 5.40%, 5.40% Floor)
9.66%, 07/15/36(a)(b)
$500,000
$500,504
Katayma CLO II Ltd., Series 2024-2A - Class E
(Floating, 3M CME Term SOFR + 7.33%, 7.33% Floor)
11.60%, 04/20/37(a)(b)
500,000
498,336
PPM CLO 7 Ltd., Series 2024-7A - Class E
(Floating, 3M CME Term SOFR + 6.75%, 6.75% Floor)
11.02%, 07/20/37(a)(b)
350,000
348,250
AGL CLO 19 Ltd., Series 2022-19A - Class D2R
(Floating, 3M CME Term SOFR + 0.00%)
0.00%, 07/21/38(a)(b)
1,000,000
1,000,000
Garnet CLO Ltd., Series 2025-1A - Class E
(Floating, 3M CME Term SOFR + 6.25%)
07/20/37(a)(c)
1,000,000
1,000,000
 
3,347,090
TOTAL ASSET-BACKED SECURITIES (Cost $3,345,205)
3,347,090
BANK LOAN OBLIGATIONS(b)
76.2
%
Aerospace & Defense
1.0
%
Peraton Corp., Term B Loan
(Floating, CME Term SOFR USD 1M + 3.75%, 0.75% Floor)
8.18%, 02/01/28
925,593
814,808
TransDigm, Inc., Tranche L Term Loan
(Floating, CME Term SOFR USD 3M + 2.50%)
6.80%, 01/19/32
311,645
312,063
 
1,126,871
Asset Management
1.9
%
Fiserv Investment Solutions, Inc., Initial Term Loan
(Floating, CME Term SOFR USD 3M + 4.00%)
8.32%, 02/18/27
913,202
900,263
Nexus Buyer LLC, Initial Term Loan
(Floating, CME Term SOFR USD 1M + 3.50%)
7.83%, 07/31/31
1,284,161
1,287,679
 
2,187,942
Banking
0.4
%
Nouryon Finance B.V., November 2024 B-1 Dollar Term Loan
(Floating, CME Term SOFR USD 3M + 3.25%)
7.51%, 04/03/28
483,233
485,045
Basic Industry
2.6
%
Pregis TopCo LLC, Tenth Amendment Term Loan
(Floating, CME Term SOFR USD 1M + 4.00%)
8.33%, 02/01/29
872,647
874,392
15
BARROW HANLEY FUNDS
BARROW HANLEY FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
TMS International Corp., Term B-7 Loan,
(Floating, CME Term SOFR USD 3M + 3.50%, 0.50% Floor)
7.78%, 03/02/30
$1,576,357
$1,576,357
(Floating, CME Term SOFR USD 3M + 3.50%, 0.50% Floor)
7.83%, 03/02/30
565,625
565,625
 
3,016,374
Beverage, Food & Tobacco
0.2
%
Del Monte Foods Corp. II, Inc., First Out Term Loan
(Floating, CME Term SOFR USD 3M + 8.00%, 0.50% Floor)
12.47%, 08/02/28(d)
124,511
111,749
Del Monte Foods Corp. II, Inc., Second Out Term Loans,
(Floating, CME Term SOFR USD 3M + 4.25%, 0.50% Floor)
8.71%, 08/02/28
14,803
8,142
(Floating, CME Term SOFR USD 3M + 4.25%, 0.50% Floor)
8.72%, 08/02/28
91,209
50,165
Del Monte Foods Corp. II, Inc., Third Out Term Loan
(Floating, CME Term SOFR USD 3M + 4.75%, 0.50% Floor)
9.21%, 08/02/28(d)
244,090
39,054
 
209,110
Brokerage Assetmanagers Exchanges
2.0
%
Ascensus Group Holdings, Inc., Amendment No.4 Replacement Term Loan
(Floating, CME Term SOFR USD 1M + 3.00%, 0.50% Floor)
7.33%, 08/02/28
556,759
557,338
DRW Holdings LLC, 2024 Refinancing Term Loan
(Floating, CME Term SOFR USD 1M + 3.50%)
7.83%, 06/26/31
147,061
147,245
Edelman Financial Engines Center LLC (The), 2024 Refinancing Term Loan
(Floating, CME Term SOFR USD 1M + 5.25%)
9.58%, 10/06/28
350,000
350,437
GTCR Everest Borrower LLC, Initial Term Loan
(Floating, CME Term SOFR USD 3M + 2.75%)
7.05%, 09/05/31
233,950
234,243
HighTower Holding LLC, Initial Term Loan
(Floating, CME Term SOFR USD 3M + 3.00%)
7.26%, 02/03/32
219,485
218,754
Jefferies Finance LLC, Initial Term Loan
(Floating, CME Term SOFR USD 1M + 3.00%)
7.32%, 10/21/31
782,565
783,543
 
2,291,560
Buildings & Real Estate
0.6
%
Crown Subsea Communications Holding, Inc., 2024 Term Loan
(Floating, CME Term SOFR USD 3M + 4.00%, 0.75% Floor)
8.33%, 01/30/31
643,500
646,988
16
BARROW HANLEY FUNDS
BARROW HANLEY FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Cable & Satellite
1.3
%
CSC Holdings LLC, 2022 Refinancing Term Loan
(Floating, CME Term SOFR USD 1M + 4.50%)
8.81%, 01/18/28
$772,225
$760,649
CSC Holdings LLC, September 2019 Initial Term Loan
(Floating, PRIME USD 3M + 1.50%, 1.00% Floor)
9.00%, 04/15/27
769,691
748,941
 
1,509,590
Capital Goods
8.1
%
Beach Acquisition Bidco LLC, Term Loan
06/25/32(e)
300,000
301,500
Clydesdale Acquisition Holdings, Inc., 2025 Incremental Closing Date Term B
Loan
(Floating, CME Term SOFR USD 1M + 3.25%, 0.50% Floor)
7.58%, 04/01/32
1,083,289
1,078,479
Clydesdale Acquisition Holdings, Inc., 2025 Incremental Delayed Draw Term B
Loan,
04/01/32(e)(f)
18,370
18,289
(Floating, CME Term SOFR USD 1M + 3.25%, 0.50% Floor)
1.63%, 04/01/32
568
566
Compass Power Generation LLC, Tranche B-4 Term Loan,
04/14/29(e)
1,919
1,929
(Floating, CME Term SOFR USD 1M + 3.25%, 1.00% Floor)
7.58%, 04/14/29
765,837
769,709
CPM Holdings, Inc., Initial Term Loan
(Floating, CME Term SOFR USD 1M + 4.50%, 0.50% Floor)
8.82%, 09/28/28
424,082
413,679
Form Technologies LLC, Initial Term Loan
(Floating, CME Term SOFR USD 3M + 5.75%, 0.50% Floor)
10.02%, 07/19/30
237,860
224,480
Global IID Parent LLC, 2025 Refinancing Term B Loan
(Floating, CME Term SOFR USD 3M + 4.25%, 0.50% Floor)
8.55%, 12/16/28
1,528,622
1,520,979
Goat Holdco LLC, Term B Loan
(Floating, CME Term SOFR USD 1M + 3.00%)
7.33%, 01/27/32
202,019
202,221
Indicor LLC, Tranche D Dollar Term Loan
(Floating, CME Term SOFR USD 3M + 2.75%, 0.50% Floor)
7.05%, 11/22/29
774,318
772,142
Karman Holdings, Inc., Initial Term Loan
(Floating, CME Term SOFR USD 3M + 3.50%)
7.80%, 04/01/32
300,631
301,007
Madison IAQ LLC, 2025 Incremental Term Loan
(Floating, CME Term SOFR USD 3M + 3.25%, 0.50% Floor)
7.51%, 05/06/32
150,547
150,864
Mauser Packaging Solutions Holding Co., Term B-1 Loan
(Floating, CME Term SOFR USD 1M + 3.00%)
7.32%, 04/15/27
278,734
278,561
17
BARROW HANLEY FUNDS
BARROW HANLEY FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Potters Industries LLC, 2025 Incremental Term Loan
(Floating, CME Term SOFR USD 3M + 3.00%, 0.75% Floor)
7.33%, 12/14/27
$1,135,392
$1,138,231
ProAmpac PG Borrower LLC, 2024-1 Refinancing Term Loan,
(Floating, CME Term SOFR USD 3M + 4.00%, 0.75% Floor)
8.26%, 09/15/28
299,562
300,236
(Floating, CME Term SOFR USD 3M + 4.00%, 0.75% Floor)
8.32%, 09/15/28
192,954
193,388
SPX Flow, Inc., December 2024 Refinancing Term Loan
(Floating, CME Term SOFR USD 1M + 3.00%, 0.50% Floor)
7.33%, 04/05/29
551,025
552,656
TK Elevator Midco GmbH, Facility B
(Floating, CME Term SOFR USD 3M + 3.00%, 0.50% Floor)
7.24%, 04/30/30
1,133,316
1,135,764
 
9,354,680
Cargo Transport
0.3
%
Kenan Advantage Group (The), Inc., U.S. Term B-4 Loan
(Floating, CME Term SOFR USD 1M + 3.25%)
7.58%, 01/25/29
376,122
370,480
Chemicals
3.5
%
Chemours (The) Co., Tranche B-3 US$ Term Loan
(Floating, CME Term SOFR USD 1M + 3.00%, 0.50% Floor)
7.33%, 08/18/28
1,473,750
1,468,223
Mativ Holdings, Inc., Term B Loan
(Floating, CME Term SOFR USD 1M + 3.75%, 0.75% Floor)
8.19%, 04/20/28
1,109,339
1,098,246
Momentive Performance Materials, Inc., Initial Term Loan
(Floating, CME Term SOFR USD 1M + 4.00%)
8.33%, 03/29/28
722,966
724,470
W. R. Grace Holdings LLC, Initial Term Loan
(Floating, CME Term SOFR USD 3M + 3.25%, 0.50% Floor)
7.55%, 09/22/28
762,764
763,084
 
4,054,023
Chemicals, Plastics & Rubber
1.9
%
Koppers, Inc., Term B-2 Loan
(Floating, CME Term SOFR USD 1M + 2.50%, 0.50% Floor)
6.83%, 04/10/30
1,161,470
1,163,654
Wilsonart LLC, Initial Term Loan
(Floating, CME Term SOFR USD 3M + 4.25%)
8.55%, 08/05/31
1,007,387
990,705
 
2,154,359
Commercial Support Services
0.4
%
Raven Acquisition Holdings LLC, 2024 Delayed Draw Term Loan
11/19/31(e)(f)
31,602
31,563
Raven Acquisition Holdings LLC, Initial Term Loan
(Floating, CME Term SOFR USD 1M + 3.25%)
7.58%, 11/19/31
441,324
440,772
 
472,335
18
BARROW HANLEY FUNDS
BARROW HANLEY FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Communications
2.1
%
Magnite, Inc., Amendment No.2 Initial Term Loan
(Floating, CME Term SOFR USD 1M + 3.00%)
7.33%, 02/06/31
$1,612,843
$1,614,859
MH Sub I LLC, 2024 December New Term Loan
(Floating, CME Term SOFR USD 1M + 4.25%, 0.50% Floor)
8.58%, 12/31/31
1,018,540
882,738
 
2,497,597
Consumer Cyclical
5.2
%
Adient U.S. LLC, Term B-2 Loan
(Floating, CME Term SOFR USD 1M + 2.25%)
6.58%, 01/31/31
1,109,025
1,110,589
BIFM CA Buyer, Inc., 2024-2 Term Loan
(Floating, CME Term SOFR USD 1M + 3.75%, 0.50% Floor)
8.08%, 05/31/28
824,898
828,148
Champions Holdco, Inc., Initial Term Loan
(Floating, CME Term SOFR USD 3M + 4.75%)
9.08%, 02/23/29
1,197,900
1,116,371
Clarios Global LP, Amendment No. 6 Dollar Term Loan
(Floating, CME Term SOFR USD 1M + 2.75%)
7.08%, 01/28/32
1,000,000
1,000,630
DS Parent, Inc., Term Loan B
(Floating, CME Term SOFR USD 3M + 5.50%, 0.75% Floor)
9.80%, 01/31/31
990,000
884,812
Fleet Midco I Ltd., Facility B2
(Floating, CME Term SOFR USD 6M + 2.75%)
7.06%, 02/21/31
404,479
404,985
Golden State Foods LLC, Initial Term Loan
(Floating, CME Term SOFR USD 1M + 4.25%)
8.56%, 12/04/31
234,185
235,059
Hanesbrands, Inc., Initial Tranche B Term Loan
(Floating, CME Term SOFR USD 1M + 2.75%)
7.08%, 03/07/32
252,483
252,904
Oravel Stays Ltd., Initial Term Loan
(Floating, CME Term SOFR USD 3M + 8.00%, 1.00% Floor)
12.30%, 01/08/30
233,854
232,685
 
6,066,183
Consumer Non-Cyclical
3.0
%
Aspire Bakeries Holdings LLC, Initial Term Loan
(Floating, CME Term SOFR USD 1M + 3.50%)
7.82%, 12/23/30
332,785
333,305
Charlotte Buyer, Inc., Second Refinancing Term Loan
(Floating, CME Term SOFR USD 1M + 4.25%, 0.50% Floor)
8.56%, 02/11/28
775,242
775,102
Medline Borrower L.P., Third Amendment Incremental Term Loan
(Floating, CME Term SOFR USD 1M + 2.25%, 0.50% Floor)
6.58%, 10/23/28
696,371
696,712
Osmosis Buyer Ltd., 2025 Refinancing Term B Loan
(Floating, CME Term SOFR USD 1M + 3.00%, 0.50% Floor)
7.32%, 07/31/28
499,463
498,429
19
BARROW HANLEY FUNDS
BARROW HANLEY FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Primo Brands Corp., 2025 Refinancing Term Loan
(Floating, CME Term SOFR USD 3M + 2.25%, 0.50% Floor)
6.55%, 03/31/28
$280,912
$281,794
Summit Behavioral Healthcare LLC, Tranche B-1 Term Loan
(Floating, CME Term SOFR USD 3M + 4.25%, 0.75% Floor)
8.55%, 11/24/28
972,235
729,176
U.S. Fertility Enterprises LLC, Initial Delayed Draw Term Loan,
10/11/31(e)
6,822
6,839
(Floating, CME Term SOFR USD 3M + 4.50%)
8.78%, 10/11/31
2,188
2,194
(Floating, CME Term SOFR USD 3M + 4.50%)
8.82%, 10/11/31
4,651
4,662
U.S. Fertility Enterprises LLC, Initial Term Loan
(Floating, CME Term SOFR USD 3M + 4.50%)
8.80%, 10/11/31
149,708
150,083
 
3,478,296
Consumer Services
0.4
%
ASP Dream Acquisition Co. LLC, Initial Term Loan
(Floating, CME Term SOFR USD 1M + 4.25%, 0.75% Floor)
8.68%, 12/15/28
498,715
481,260
Containers & Packaging
0.3
%
Five Star Lower Holding LLC, Initial Term Loan
(Floating, CME Term SOFR USD 3M + 4.25%, 0.50% Floor)
8.56%, 05/05/29
384,137
382,858
Diversified/Conglomerate Manufacturing
1.7
%
Ranpak Corp., Initial Dutch Borrower Term Loan
(Floating, CME Term SOFR USD 3M + 4.50%)
8.80%, 12/19/31
155,865
154,306
Ranpak Corp., Initial U.S. Borrower Term Loan
(Floating, CME Term SOFR USD 3M + 4.50%)
8.80%, 12/19/31
243,539
241,104
VT Topco, Inc., Second Amendment Term Loan
(Floating, CME Term SOFR USD 1M + 3.00%, 0.50% Floor)
7.33%, 08/09/30
741,906
742,930
WireCo WorldGroup, Inc., 2023 Refinancing Term Loan
(Floating, CME Term SOFR USD 3M + 3.75%)
8.02%, 11/13/28
937,068
885,529
 
2,023,869
Diversified/Conglomerate Service
4.5
%
Allied Universal Holdco LLC, Initial U.S. Dollar Term Loan
(Floating, CME Term SOFR USD 1M + 3.75%, 0.50% Floor)
8.18%, 05/12/28
739,636
742,906
DXP Enterprises, Inc., 2024 Incremental Term Loan
(Floating, CME Term SOFR USD 1M + 3.75%, 1.00% Floor)
8.08%, 10/11/30
776,234
780,604
Emerald X, Inc., Closing Date Term Loan
(Floating, CME Term SOFR USD 1M + 3.75%)
8.08%, 01/30/32
389,075
390,779
20
BARROW HANLEY FUNDS
BARROW HANLEY FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Heartland Dental LLC, 2024 New Term Loan
(Floating, CME Term SOFR USD 1M + 4.50%, 0.75% Floor)
8.83%, 04/28/28
$943,394
$943,516
National Mentor Holdings, Inc., Initial Term C Loan
(Floating, CME Term SOFR USD 3M + 3.75%)
8.15%, 03/02/28
24,033
23,180
National Mentor Holdings, Inc., Initial Term Loan,
(Floating, CME Term SOFR USD 3M + 3.75%)
8.15%, 03/02/28
152,272
146,866
(Floating, CME Term SOFR USD 1M + 3.75%)
8.18%, 03/02/28
672,934
649,045
Russell Investments U.S. Institutional Holdco, Inc., 2027 Term Loan
(Floating, CME Term SOFR USD 3M + 5.00%, 1.00% Floor)
9.28%, 05/30/27(d)
1,624,840
1,529,787
 
5,206,683
Electrical
1.2
%
MH Sub I LLC, 2023 May Incremental Term Loan
(Floating, CME Term SOFR USD 1M + 4.25%, 0.50% Floor)
8.58%, 05/03/28
1,504,898
1,410,375
Electronics
0.9
%
Ultra Clean Holdings, Inc., Seventh Amendment Replacement Term Loan
(Floating, CME Term SOFR USD 1M + 3.25%)
7.58%, 02/25/28
1,005,641
1,007,320
Finance
1.5
%
Aretec Group, Inc., Term B-3 Loan
(Floating, CME Term SOFR USD 1M + 3.50%)
7.83%, 08/09/30
774,542
775,588
MSP Recovery Law Firm, Tranche 1 Loan
8.10%, 06/16/26(g)
720,749
139,825
Osaic Holdings, Inc., Term B-4 Loan
(Floating, CME Term SOFR USD 1M + 3.50%)
7.83%, 08/17/28
801,915
803,150
 
1,718,563
Food
0.3
%
Chefs' Warehouse (The), Inc., 2022 Term Loan
(Floating, CME Term SOFR USD 1M + 3.00%, 0.50% Floor)
7.33%, 08/23/29
332,788
333,343
Health Care Facilities & Services
1.7
%
Agiliti Health, Inc., Term Loan,
(Floating, CME Term SOFR USD 3M + 3.00%)
7.22%, 05/01/30
263,446
254,555
(Floating, CME Term SOFR USD 3M + 3.00%)
7.30%, 05/01/30
138,486
133,812
Dermatology Intermediate Holdings III, Inc., Closing Date Term Loan
(Floating, CME Term SOFR USD 3M + 4.25%, 0.50% Floor)
8.53%, 03/30/29
388,000
350,818
21
BARROW HANLEY FUNDS
BARROW HANLEY FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Dermatology Intermediate Holdings III, Inc., Term B-1 Loan
(Floating, CME Term SOFR USD 3M + 5.50%, 0.50% Floor)
9.78%, 03/30/29
$799,875
$727,886
Sharp Services LLC, Tranche D Term Loan
(Floating, CME Term SOFR USD 3M + 3.25%)
7.55%, 12/31/28
515,131
515,775
 
1,982,846
Healthcare & Pharmaceuticals
1.2
%
MED ParentCo LP, Ninth Amendment Refinancing Term Loan,
04/15/31(e)
402,606
403,758
(Floating, CME Term SOFR USD 1M + 3.50%)
7.83%, 04/15/31
1,034,753
1,037,712
 
1,441,470
Healthcare, Education & Childcare
2.0
%
LifePoint Health, Inc., 2024-1 Refinancing Term Loan
(Floating, CME Term SOFR USD 3M + 3.75%)
8.01%, 05/17/31
1,482,116
1,464,745
Outcomes Group Holdings, Inc., 2024 Replacement Term Loan
(Floating, CME Term SOFR USD 1M + 3.75%)
8.08%, 05/06/31
76,616
76,984
Zest Acquisition Corp., Term B-1 Loan
(Floating, CME Term SOFR USD 3M + 5.25%)
9.53%, 02/08/28
740,729
737,025
 
2,278,754
Home Construction
0.7
%
Chariot Buyer LLC, Initial Term Loan
(Floating, CME Term SOFR USD 1M + 3.25%, 0.50% Floor)
7.68%, 11/03/28
834,384
835,235
Industrial Intermediate Products
0.3
%
AZZ, Inc., Initial Term Loan
(Floating, CME Term SOFR USD 1M + 2.50%, 0.50% Floor)
6.83%, 05/13/29
396,221
398,079
Insurance
3.8
%
Acrisure LLC, 2024 Repricing Term B-6 Loan
(Floating, CME Term SOFR USD 1M + 3.00%)
7.33%, 11/06/30
623,740
621,513
Acrisure LLC, 2025 Term B Loan
(Floating, CME Term SOFR USD 1M + 3.25%)
7.58%, 06/20/32
372,000
371,535
Asurion LLC, New B-11 Term Loan
(Floating, CME Term SOFR USD 1M + 4.25%)
8.68%, 08/19/28
433,350
428,319
Asurion LLC, New B-4 Term Loan
(Floating, CME Term SOFR USD 1M + 5.25%)
9.69%, 01/20/29
790,000
731,366
Bella Holding Co. LLC, 2025 Term Loan
(Floating, CME Term SOFR USD 1M + 3.00%, 0.75% Floor)
7.33%, 05/10/28
796,476
798,714
22
BARROW HANLEY FUNDS
BARROW HANLEY FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
OneDigital Borrower LLC, 2025 Refinancing Term Loan
(Floating, CME Term SOFR USD 1M + 3.00%, 0.50% Floor)
7.33%, 07/02/31
$379,958
$378,890
OneDigital Borrower LLC, Initial Loan
(Floating, CME Term SOFR USD 1M + 5.25%, 0.50% Floor)
9.58%, 07/02/32
810,000
808,988
Trucordia Insurance Holdings LLC, Initial Term Loan)
(Floating, CME Term SOFR USD 1M + 3.25%)
7.56%, 06/14/32
223,402
223,682
 
4,363,007
Leisure Facilities & Services
0.2
%
Scientific Games Holdings LP, 2024 Refinancing Dollar Term Loan
(Floating, CME Term SOFR USD 3M + 3.00%, 0.50% Floor)
7.28%, 04/04/29
192,590
192,337
Machinery
2.4
%
Alliance Laundry Systems LLC, Initial Term B Loan
(Floating, CME Term SOFR USD 1M + 2.50%)
6.83%, 08/19/31
1,020,000
1,021,530
Engineered Machinery Holdings, Inc., Incremental Amendment No. 3 Term
Loan
(Floating, CME Term SOFR USD 3M + 6.00%, 0.75% Floor)
10.56%, 05/21/29
395,000
395,494
Engineered Machinery Holdings, Inc., Incremental Amendment No. 5 Term
Loan
(Floating, CME Term SOFR USD 3M + 3.50%, 0.75% Floor)
8.06%, 05/19/28
640,051
643,597
Pro Mach Group, Inc., Amendment No.5 Term Loan
(Floating, CME Term SOFR USD 1M + 2.75%, 1.00% Floor)
7.08%, 08/31/28
768,121
769,434
 
2,830,055
Metals & Mining
0.6
%
Harsco Corp., Term B-3 Loan
(Floating, CME Term SOFR USD 1M + 2.25%)
6.69%, 06/09/28
691,094
682,628
Other Industrial
1.4
%
Azuria Water Solutions, Inc., 2025 Replacement Term Loan
(Floating, CME Term SOFR USD 1M + 3.00%, 0.75% Floor)
7.33%, 05/17/28
761,055
762,615
Service Logic Acquisition, Inc., Amendment No. 8 Refinancing Term Loan
(Floating, CME Term SOFR USD 3M + 3.00%, 0.75% Floor)
7.28%, 10/29/27
833,652
833,652
 
1,596,267
Printing & Publishing
0.6
%
LABL, Inc., Initial Dollar Term Loan
(Floating, CME Term SOFR USD 1M + 5.00%, 0.50% Floor)
9.43%, 10/30/28
762,763
685,282
23
BARROW HANLEY FUNDS
BARROW HANLEY FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Real Estate Investment Trusts
0.5
%
Apollo Commercial Real Estate Finance, Inc., Initial Term Loan
(Floating, CME Term SOFR USD 1M + 3.25%)
7.56%, 06/13/30
$223,000
$223,279
OEG Borrower LLC, 2024 Refinancing Term Loan
(Floating, CME Term SOFR USD 3M + 3.50%)
7.81%, 06/30/31
401,962
399,450
 
622,729
Retail
1.0
%
United Natural Foods, Inc., 2024 Term Loan
(Floating, CME Term SOFR USD 1M + 4.75%)
9.08%, 05/01/31
933,271
937,938
Victra Holdings LLC, Fourth Amendment Incremental Term Loan
(Floating, CME Term SOFR USD 3M + 4.25%, 0.75% Floor)
8.55%, 03/31/29
185,402
185,170
 
1,123,108
Retail - Discretionary
1.7
%
Petco Health and Wellness Co., Inc., Initial Term Loan
(Floating, CME Term SOFR USD 3M + 3.25%, 0.75% Floor)
7.81%, 03/03/28
1,045,000
960,376
PetSmart LLC, Initial Term Loan
(Floating, CME Term SOFR USD 1M + 3.75%, 0.75% Floor)
8.18%, 02/11/28
760,740
751,391
Victoria's Secret & Co., Initial Term Loan
(Floating, CME Term SOFR USD 3M + 3.25%, 0.50% Floor)
7.82%, 08/02/28
226,918
226,494
 
1,938,261
Retail Stores
3.7
%
BCPE Empire Holdings, Inc., Amendment No. 8 Incremental Term Loan
(Floating, CME Term SOFR USD 1M + 3.25%, 0.50% Floor)
7.58%, 12/11/30
2,043,116
2,029,325
Dave & Buster's, Inc., 2024 Incremental Term B Loan
(Floating, CME Term SOFR USD 3M + 3.25%)
7.56%, 11/01/31
1,014,900
966,317
Dave & Buster's, Inc., 2024 Refinancing Term B Loan
(Floating, CME Term SOFR USD 3M + 3.25%, 0.50% Floor)
7.56%, 06/29/29
315,639
305,194
Great Outdoors Group LLC, Term B-3 Loan
(Floating, CME Term SOFR USD 1M + 3.25%, 0.75% Floor)
7.58%, 01/23/32
306,199
305,338
Upbound Group, Inc., Initial Term Loan
(Floating, CME Term SOFR USD 3M + 2.75%, 0.50% Floor)
7.03%, 02/17/28
718,666
720,463
 
4,326,637
Software
0.7
%
Central Parent LLC, 2024 Refinancing Term Loan
(Floating, CME Term SOFR USD 3M + 3.25%)
7.55%, 07/06/29
281,408
234,301
24
BARROW HANLEY FUNDS
BARROW HANLEY FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Cotiviti, Inc., Initial Floating Rate Term Loan
(Floating, CME Term SOFR USD 1M + 2.75%)
7.07%, 05/01/31
$560,857
$557,705
ECi Macola/MAX Holding LLC, 2024 Repricing Term Loan
(Floating, CME Term SOFR USD 3M + 3.25%, 0.75% Floor)
7.55%, 05/09/30
76,617
76,952
 
868,958
Specialty Finance
1.3
%
Blackstone Mortgage Trust, Inc., Term B-6 Loan
(Floating, CME Term SOFR USD 1M + 3.00%, 0.50% Floor)
7.33%, 12/10/30
154,736
153,963
Greystone Select Financial LLC, Initial Term Loan
(Floating, CME Term SOFR USD 3M + 5.00%)
9.53%, 06/16/28
1,321,324
1,308,110
 
1,462,073
Technology
3.8
%
Adeia, Inc., Initial Term B Loan
(Floating, CME Term SOFR USD 1M + 2.50%)
6.83%, 06/08/28
425,272
425,804
Cotiviti, Inc., Amendment 2 Term Loan
(Floating, CME Term SOFR USD 1M + 2.75%)
7.07%, 03/26/32
729,690
725,436
Icon Parent I, Inc., Initial Term Loan
(Floating, CME Term SOFR USD 6M + 3.00%)
7.21%, 11/13/31
154,613
154,739
Imprivata, Inc., 2024 Refinancing Term Loan
(Floating, CME Term SOFR USD 3M + 3.50%, 0.50% Floor)
7.78%, 12/01/27
58,555
58,734
Ingram Micro, Inc., Additional Term B-2 Loan
(Floating, CME Term SOFR USD 3M + 2.25%, 0.50% Floor)
6.56%, 09/22/31
157,757
158,349
Neon Maple Purchaser, Inc., Tranche B-1 Term Loan
(Floating, CME Term SOFR USD 1M + 3.00%)
7.33%, 11/17/31
1,011,829
1,013,023
Proofpoint, Inc., 2024 Refinancing Term Loan
(Floating, CME Term SOFR USD 1M + 3.00%, 0.50% Floor)
7.33%, 08/31/28
1,263,141
1,263,280
RealPage, Inc., 2024-1 Incremental Term Loan
(Floating, CME Term SOFR USD 3M + 3.75%, 0.50% Floor)
8.05%, 04/24/28
158,454
158,454
Storable, Inc., Initial Term Loan
(Floating, CME Term SOFR USD 1M + 3.25%)
7.58%, 04/16/31
417,297
416,516
 
4,374,335
Telecommunications
0.5
%
Eagle Broadband Investments LLC, Initial Term Loan
(Floating, CME Term SOFR USD 3M + 3.00%, 0.75% Floor)
7.56%, 11/12/27
615,693
612,614
25
BARROW HANLEY FUNDS
BARROW HANLEY FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Transportation
2.2
%
AAdvantage Loyality IP Ltd., 2025 Incremental Term Loan
(Floating, CME Term SOFR USD 3M + 3.25%)
7.58%, 05/28/32
$250,000
$251,375
AAdvantage Loyality IP Ltd., 2025 Replacement Term Loan
(Floating, CME Term SOFR USD 3M + 2.25%)
6.52%, 04/20/28
770,250
764,350
Apple Bidco LLC, Amendment No. 5 Term Loan
(Floating, CME Term SOFR USD 1M + 2.50%)
6.83%, 09/23/31
1,038,857
1,036,177
Stonepeak Nile Parent LLC, Initial Term Loan
(Floating, CME Term SOFR USD 3M + 2.75%)
6.98%, 04/09/32
356,082
357,061
VistaJet Malta Finance PLC, Initial Term Loan
(Floating, CME Term SOFR USD 3M + 3.75%)
8.05%, 04/01/31
150,547
150,798
 
2,559,761
Wholesale - Discretionary
0.6
%
Fleetpride, Inc., 2023 Incremental Term Loan
(Floating, CME Term SOFR USD 3M + 4.50%, 0.50% Floor)
8.80%, 09/29/28
805,848
739,656
TOTAL BANK LOAN OBLIGATIONS (Cost $89,792,753)
88,399,796
CORPORATE BONDS
10.5
%
Automotive
0.9
%
Tenneco, Inc.
8.00%, 11/17/28(a)
1,000,000
988,897
Cable & Satellite
1.5
%
CCO Holdings LLC/CCO Holdings Capital Corp.
4.75%, 03/01/30(a)
685,000
663,630
CSC Holdings LLC
4.13%, 12/01/30(a)
1,580,000
1,114,710
 
1,778,340
Chemicals
1.2
%
Chemours (The) Co.,
4.63%, 11/15/29(a)
1,185,000
1,031,465
8.00%, 01/15/33(a)
365,000
341,789
 
1,373,254
Commercial Support Services
0.6
%
Enviri Corp.
5.75%, 07/31/27(a)
750,000
740,222
Containers & Packaging
0.4
%
Ardagh Metal Packaging Finance U.S.A. LLC/Ardagh Metal Packaging Finance
PLC
4.00%, 09/01/29(a)
500,000
456,438
26
BARROW HANLEY FUNDS
BARROW HANLEY FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Health Care Facilities & Services
1.4
%
HAH Group Holding Co. LLC
9.75%, 10/01/31(a)
$1,000,000
$991,413
LifePoint Health, Inc.
8.38%, 02/15/32(a)
535,000
570,066
 
1,561,479
Insurance
0.3
%
Acrisure LLC/Acrisure Finance, Inc.
7.50%, 11/06/30(a)
320,000
330,571
Oil & Gas Supply Chain
0.4
%
ITT Holdings LLC
6.50%, 08/01/29(a)
500,000
475,476
Specialty Finance
3.7
%
Burford Capital Global Finance LLC
9.25%, 07/01/31(a)
1,185,000
1,247,164
ILFC E-Capital Trust I
6.43%, 12/21/65(a)(b)
1,343,000
1,122,935
ILFC E-Capital Trust II
6.68%, 12/21/65(a)(b)
1,102,000
936,105
Rithm Capital Corp.
8.00%, 07/15/30(a)
1,000,000
1,005,000
 
4,311,204
Steel
0.1
%
TMS International Corp.
6.25%, 04/15/29(a)
115,000
109,344
TOTAL CORPORATE BONDS (Cost $12,142,735)
12,125,225
FOREIGN ISSUER BONDS
1.2
%
Automotive
1.2
%
Adient Global Holdings Ltd.
7.50%, 02/15/33(a)
750,000
766,951
Aptiv Swiss Holdings Ltd.
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 3.39%)
6.88%, 12/15/54(b)
625,000
631,212
 
1,398,163
TOTAL FOREIGN ISSUER BONDS (Cost $1,359,476)
1,398,163
 
 
Percentage
of Net
Assets
Shares
Value
WARRANTS
0.0
%
Manufacturing
0.0
%
Service King, Exp. 8/30/30, Strike Price $-(g)(h)
2,554
—
TOTAL WARRANTS (Cost $—)
—
27
BARROW HANLEY FUNDS
BARROW HANLEY FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Shares
Value
SHORT-TERM INVESTMENTS
11.1
%
Northern Institutional Treasury Portfolio (Premier Class), 4.16%(i)
12,863,040
$12,863,040
TOTAL SHORT-TERM INVESTMENTS (Cost $12,863,040)
12,863,040
TOTAL INVESTMENTS
(Cost $119,503,209)
101.9
%
118,133,314
NET OTHER ASSETS (LIABILITIES)
(1.9
%)
(2,168,671
)
NET ASSETS
100.0
%
$115,964,643
 
(a)Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally
to qualified institutional buyers. As of June 30, 2025, these securities had a total value of $16,239,266 or 14% of net assets.
(b)Variable or floating rate security. The rate presented is the rate in effect at June 30, 2025, and the related index and spread are shown parenthetically for each security.
(c)When-Issued Security. Coupon rate is not in effect at June 30, 2025.
(d)Security is a payment in-kind bond, and unless otherwise noted in the description of the security, pays its entire coupon on an in-kind basis.
(e)Position is unsettled. Contract rate was not determined at June 30, 2025 and does not take effect until settlement date.
(f)Unfunded loan commitment is a contractual obligation for future funding at the option of the Borrower. The Fund receives a stated coupon rate until the borrower
draws on the loan commitment, at which time the rate will become the stated rate in the loan agreement.
(g)Security valued pursuant to Level 3 unobservable inputs.
(h)Non-income producing security.
(i)7-day current yield as of June 30, 2025 is disclosed.
 
Abbreviations:
CLO – Collateralized Loan Obligation
SOFR – Secured Overnight Financing Rate
USD – United States Dollar
28
BARROW HANLEY FUNDS
BARROW HANLEY INTERNATIONAL VALUE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
 
Percentage
of Net
Assets
Shares
Value
COMMON STOCKS
96.1
%
Canada
4.1
%
Bank of Nova Scotia (The)
4,948
$273,607
Enbridge, Inc.
3,025
137,172
Suncor Energy, Inc.
5,076
190,143
 
600,922
Denmark
2.4
%
Carlsberg A.S. - Class B
1,431
202,752
Vestas Wind Systems A/S
9,424
141,380
 
344,132
Finland
5.2
%
Fortum OYJ
14,888
278,668
Nordea Bank Abp
19,551
290,410
Stora Enso OYJ - REG
17,213
187,026
 
756,104
France
8.5
%
Arkema S.A.
2,190
161,361
BNP Paribas S.A.
4,271
383,968
Capgemini S.E.
955
163,173
SCOR S.E.
8,677
286,394
Thales S.A.
800
235,213
 
1,230,109
Germany
11.1
%
BASF S.E.
5,164
254,632
Continental A.G.
3,089
269,627
Deutsche Post A.G.
4,172
192,694
Fraport A.G. Frankfurt Airport Services Worldwide(a)
2,707
203,918
Infineon Technologies A.G.
5,901
251,038
Rheinmetall A.G.
205
433,939
 
1,605,848
Hong Kong
3.9
%
AIA Group Ltd.
25,885
232,142
ASMPT Ltd.
16,934
124,147
Jardine Matheson Holdings Ltd.
4,409
211,897
 
568,186
Israel
1.1
%
Nice Ltd. - ADR(a)
946
159,789
Italy
7.0
%
Azimut Holding S.p.A.
9,604
307,488
Enel S.p.A.
23,480
222,815
Saipem S.p.A.
66,005
180,770
Snam S.p.A.
50,660
306,849
 
1,017,922
Japan
14.7
%
Komatsu Ltd.
5,850
192,434
29
BARROW HANLEY FUNDS
BARROW HANLEY INTERNATIONAL VALUE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Shares
Value
Makita Corp.
6,826
$211,077
MINEBEA MITSUMI, Inc.
11,383
167,301
MISUMI Group, Inc.
11,318
151,766
Murata Manufacturing Co. Ltd.
11,756
175,844
Nabtesco Corp.
9,568
171,520
NIPPON EXPRESS HOLDINGS, Inc.
7,300
146,629
Olympus Corp.
13,364
159,156
Omron Corp.
7,469
201,967
Persol Holdings Co. Ltd.
95,354
186,397
Tosoh Corp.
10,311
151,080
TOTO Ltd.
8,715
220,046
 
2,135,217
Jersey
0.9
%
WPP PLC
19,161
134,821
Mexico
1.5
%
Grupo Financiero Banorte S.A.B. de C.V., Series O
23,000
210,235
Netherlands
5.3
%
ABN AMRO Bank N.V. - C.V.A.(b)
10,696
292,809
Akzo Nobel N.V.
4,020
281,280
Randstad N.V.
4,102
189,413
 
763,502
Norway
2.9
%
Aker BP ASA
9,497
242,904
Equinor ASA
6,922
175,189
 
418,093
South Korea
1.3
%
SK Hynix, Inc.
886
191,695
Sweden
3.6
%
Boliden AB(a)
5,890
183,718
Elekta AB - Class B
27,249
140,783
Getinge AB - Class B
9,798
196,459
 
520,960
Switzerland
2.6
%
Julius Baer Group Ltd.
5,481
370,535
United Kingdom
20.0
%
Centrica PLC
116,515
258,374
Chemring Group PLC
16,948
131,440
Legal & General Group PLC
69,321
242,261
LondonMetric Property PLC
78,546
218,867
M&G PLC
77,876
274,724
Mondi PLC
13,515
220,668
Persimmon PLC
13,450
239,269
QinetiQ Group PLC
19,389
137,197
Sensata Technologies Holding PLC
7,126
214,564
Smith & Nephew PLC
16,280
248,719
30
BARROW HANLEY FUNDS
BARROW HANLEY INTERNATIONAL VALUE FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Shares
Value
St. James's Place PLC
18,145
$294,896
Standard Chartered PLC
24,676
408,829
 
2,889,808
TOTAL COMMON STOCKS (Cost $11,350,097)
13,917,878
PREFERRED STOCKS
1.6
%
Germany
1.6
%
Dr Ing hc F Porsche A.G., 3.55 %(b)(c)
4,590
226,761
TOTAL PREFERRED STOCKS (Cost $352,012)
226,761
SHORT-TERM INVESTMENTS
0.6
%
Northern Institutional Treasury Portfolio (Premier Class), 4.16%(d)
87,909
87,909
TOTAL SHORT-TERM INVESTMENTS (Cost $87,909)
87,909
TOTAL INVESTMENTS
(Cost $11,790,018)
98.3
%
14,232,548
NET OTHER ASSETS (LIABILITIES)
1.7
%
243,635
NET ASSETS
100.0
%
$14,476,183
 
(a)Non-income producing security.
(b)Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally
to qualified institutional buyers. As of June 30, 2025, these securities had a total value of $519,570 or 4% of net assets.
(c)Current yield is disclosed. Dividends are calculated based on a percentage of the issuer’s net income.
(d)7-day current yield as of June 30, 2025 is disclosed.
 
Abbreviations:
ADR – American Depositary Receipt
REG – Registered
At June 30, 2025 the industry sectors (excluding short-term investments) for the Barrow Hanley International Value Fund were: 
Sector Allocation
% of Net Assets
Financials 
26.8%
Industrials 
24.5 
Materials 
10.0 
Information Technology 
8.6 
Utilities 
7.3 
Energy 
6.4 
Health Care 
5.1 
Consumer Discretionary 
5.2 
Real Estate 
1.5 
Consumer Staples 
1.4 
Communication Services 
0.9 
Total
97.7%
31
BARROW HANLEY FUNDS
BARROW HANLEY TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
 
Percentage
of Net
Assets
Principal Amount
Value
ASSET-BACKED SECURITIES
5.3
%
Other Asset-Backed Securities
1.3
%
Taco Bell Funding LLC, Series 2021-1A - Class A2II
2.29%, 08/25/51(a)
$176,850
$160,813
New Economy Assets Phase 1 Sponsor LLC, Series 2021-1 - Class A1
1.91%, 10/20/61(a)
235,000
221,250
John Deere Owner Trust, Series 2022-A - Class A3
2.32%, 09/15/26
27,956
27,877
John Deere Owner Trust, Series 2022-B - Class A3
3.74%, 02/16/27
63,178
62,973
CNH Equipment Trust, Series 2023-A - Class A3
4.81%, 08/15/28
204,596
205,257
CNH Equipment Trust, Series 2024-B - Class A2A
5.42%, 10/15/27
127,006
127,350
John Deere Owner Trust, Series 2024-B - Class A2A
5.42%, 05/17/27
961,102
964,335
Compass Datacenters Issuer III LLC, Series 2025-1A - Class A2
5.66%, 02/25/50(a)
590,000
595,951
 
2,365,806
Automotive
4.0
%
AmeriCredit Automobile Receivables Trust, Series 2022-2 - Class A3
4.38%, 04/18/28
25,563
25,556
BMW Vehicle Owner Trust, Series 2022-A - Class A3
3.21%, 08/25/26
6,982
6,969
Ally Auto Receivables Trust, Series 2022-1 - Class A3
3.31%, 11/15/26
16,029
16,007
Honda Auto Receivables Owner Trust, Series 2022-1 - Class A3
1.88%, 05/15/26
38,538
38,460
Ford Credit Auto Owner Trust, Series 2023-A - Class A3
4.65%, 02/15/28
177,537
177,733
GM Financial Revolving Receivables Trust, Series 2021-1 - Class A
1.17%, 06/12/34(a)
155,000
149,275
Toyota Auto Loan Extended Note Trust, Series 2023-1A - Class A
4.93%, 06/25/36(a)
100,000
102,006
BMW Vehicle Lease Trust, Series 2023-2 - Class A3
5.99%, 09/25/26
304,485
305,557
AmeriCredit Automobile Receivables Trust, Series 2024-1 - Class A2A
5.75%, 02/18/28
585,379
586,691
Ford Credit Auto Owner Trust, Series 2021-2 - Class A
1.53%, 05/15/34(a)
205,000
197,381
Mercedes-Benz Auto Lease Trust, Series 2024-A - Class A2A
5.44%, 02/16/27
286,106
286,801
Mercedes-Benz Auto Lease Trust, Series 2024-B - Class A3
4.23%, 02/15/28
515,000
514,854
Porsche Financial Auto Securitization Trust, Series 2024-1 - Class A3
4.44%, 01/22/30(a)
1,310,000
1,316,067
World Omni Automobile Lease Securitization Trust, Series 2025-A -
Class A3
4.42%, 04/17/28
495,000
496,136
32
BARROW HANLEY FUNDS
BARROW HANLEY TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
GM Financial Automobile Leasing Trust, Series 2025-1 - Class A3
4.66%, 02/21/28
$865,000
$870,766
GM Financial Consumer Automobile Receivables Trust, Series 2025-1 -
Class A3
4.62%, 12/17/29
710,000
716,360
Honda Auto Receivables Owner Trust, Series 2025-1 - Class A3
4.57%, 09/21/29
705,000
711,813
Stellantis Financial Underwritten Enhanced Lease Trust, Series 2025-AA -
Class A2
4.63%, 07/20/27(a)
480,000
481,154
 
6,999,586
TOTAL ASSET-BACKED SECURITIES (Cost $9,321,097)
9,365,392
CORPORATE BONDS
24.5
%
Banking
3.4
%
Bank of America Corp.
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 1.20%)
2.48%, 09/21/36(b)
2,675,000
2,266,661
Citigroup, Inc.
(Variable, U.S. SOFR + 2.06%)
5.83%, 02/13/35(b)
2,635,000
2,688,660
JPMorgan Chase & Co.
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 2.15%)
6.50%, 04/01/30(b)(c)
975,000
1,006,955
 
5,962,276
Biotechnology & Pharmaceuticals
2.6
%
Bayer U.S. Finance II LLC,
4.25%, 12/15/25(a)
645,000
643,185
3.95%, 04/15/45(a)
1,770,000
1,275,453
Bayer U.S. Finance LLC,
6.13%, 11/21/26(a)
585,000
594,545
6.88%, 11/21/53(a)
1,960,000
2,081,466
 
4,594,649
Cable & Satellite
1.3
%
Charter Communications Operating LLC/Charter Communications Operating
Capital,
6.48%, 10/23/45
525,000
520,191
5.75%, 04/01/48
925,000
841,151
Cox Communications, Inc.
5.80%, 12/15/53(a)
930,000
843,459
 
2,204,801
Communications
1.2
%
Cox Communications, Inc.
5.95%, 09/01/54(a)
2,200,000
2,042,427
Electric Utilities
10.2
%
Appalachian Power Co.
4.50%, 03/01/49
1,550,000
1,251,616
Arizona Public Service Co.
2.65%, 09/15/50
90,000
52,856
33
BARROW HANLEY FUNDS
BARROW HANLEY TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Dominion Energy, Inc.,
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 2.39%)
6.88%, 02/01/55(b)
$925,000
$973,085
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 2.21%)
6.63%, 05/15/55(b)
1,390,000
1,410,674
Duke Energy Carolinas LLC,
5.25%, 03/15/35
445,000
455,095
6.00%, 01/15/38
125,000
133,208
6.05%, 04/15/38
355,000
379,532
3.20%, 08/15/49
305,000
206,075
Duke Energy Progress LLC,
4.15%, 12/01/44
465,000
379,173
4.20%, 08/15/45
225,000
185,040
Duke Energy Progress NC Storm Funding LLC
2.39%, 07/01/37
1,135,000
942,347
Entergy Arkansas LLC
3.35%, 06/15/52
145,000
96,942
Entergy Corp.,
2.80%, 06/15/30
295,000
272,498
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 2.67%)
7.13%, 12/01/54(b)
365,000
377,650
Entergy Louisiana LLC,
4.00%, 03/15/33
380,000
358,147
5.35%, 03/15/34
785,000
805,201
5.80%, 03/15/55
880,000
880,102
Entergy Mississippi LLC
5.80%, 04/15/55
380,000
380,216
Florida Power & Light Co.
3.95%, 03/01/48
125,000
99,690
Kentucky Utilities Co.
3.30%, 06/01/50
160,000
107,581
PacifiCorp,
4.15%, 02/15/50
890,000
675,900
5.35%, 12/01/53
570,000
512,329
5.50%, 05/15/54
1,110,000
1,020,876
Pinnacle West Capital Corp.,
4.90%, 05/15/28
865,000
877,109
5.15%, 05/15/30
1,100,000
1,126,046
Public Service Enterprise Group, Inc.,
5.45%, 04/01/34
620,000
633,581
5.40%, 03/15/35
315,000
318,708
Sempra,
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 2.63%)
6.40%, 10/01/54(b)
1,045,000
992,046
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 2.79%)
6.88%, 10/01/54(b)
785,000
791,625
34
BARROW HANLEY FUNDS
BARROW HANLEY TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 2.14%)
6.55%, 04/01/55(b)
$360,000
$341,372
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 2.35%)
6.63%, 04/01/55(b)
645,000
623,928
System Energy Resources, Inc.
5.30%, 12/15/34
385,000
380,487
 
18,040,735
Gas & Water Utilities
0.7
%
NiSource, Inc.
5.25%, 03/30/28
825,000
844,575
Sempra Infrastructure Partners L.P.
3.25%, 01/15/32(a)
420,000
357,738
 
1,202,313
Insurance
0.7
%
Markel Group, Inc.,
5.00%, 05/20/49
765,000
670,714
3.45%, 05/07/52
915,000
615,753
 
1,286,467
Oil & Gas Supply Chain
0.4
%
Energy Transfer L.P.
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 4.02%)
8.00%, 05/15/54(b)
500,000
531,942
Kinder Morgan Energy Partners L.P.
5.40%, 09/01/44
75,000
69,326
ONEOK Partners L.P.
6.85%, 10/15/37
110,000
120,381
 
721,649
Real Estate Investment Trusts
1.3
%
Agree L.P.
5.60%, 06/15/35
2,055,000
2,091,810
Alexandria Real Estate Equities, Inc.
3.55%, 03/15/52
350,000
235,393
 
2,327,203
Semiconductors
0.8
%
Foundry JV Holdco LLC
6.30%, 01/25/39(a)
1,390,000
1,454,009
Specialty Finance
0.1
%
Fidelity National Financial, Inc.
3.20%, 09/17/51
155,000
95,241
Moody's Corp.
2.55%, 08/18/60
75,000
37,855
 
133,096
Technology Hardware
0.0
%(d)
Dell International LLC/EMC Corp.
3.45%, 12/15/51
60,000
41,119
35
BARROW HANLEY FUNDS
BARROW HANLEY TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Telecommunications
0.3
%
Sprint Capital Corp.
8.75%, 03/15/32
$400,000
$485,236
Tobacco & Cannabis
1.5
%
BAT Capital Corp.
4.54%, 08/15/47
1,395,000
1,126,912
Reynolds American, Inc.
5.70%, 08/15/35
1,440,000
1,469,987
 
2,596,899
Transportation & Logistics
0.0
%(d)
American Airlines Pass Through Trust, Series 2019-1 - Class AA
3.15%, 02/15/32
72,871
66,917
TOTAL CORPORATE BONDS (Cost $42,795,661)
43,159,796
FOREIGN ISSUER BONDS
10.5
%
Automotive
0.2
%
Nissan Motor Co. Ltd.
4.81%, 09/17/30(a)
400,000
366,968
Banking
1.6
%
HBOS PLC
6.00%, 11/01/33(a)
665,000
673,587
Intesa Sanpaolo S.p.A.
(Variable, U.S. Treasury Yield Curve Rate CMT 1Y + 2.60%)
4.20%, 06/01/32(a)(b)
460,000
423,112
Sumitomo Mitsui Financial Group, Inc.
07/08/46(e)
1,830,000
1,828,499
 
2,925,198
Electric Utilities
0.6
%
Electricite de France S.A.
6.00%, 04/22/64(a)
1,045,000
989,629
Insurance
0.6
%
Fairfax Financial Holdings Ltd.
6.35%, 03/22/54
1,015,000
1,027,990
Oil & Gas Supply Chain
2.4
%
BP Capital Markets PLC
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 2.15%)
6.45%, 12/01/33(b)(c)
1,080,000
1,104,040
Enbridge, Inc.,
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 2.97%)
7.20%, 06/27/54(b)
850,000
873,242
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 3.12%)
7.38%, 03/15/55(b)
2,105,000
2,187,069
 
4,164,351
Sovereign Government
3.0
%
Israel Government International Bond,
5.38%, 03/12/29
360,000
366,920
5.50%, 03/12/34
1,435,000
1,452,094
5.63%, 02/19/35
210,000
213,412
36
BARROW HANLEY FUNDS
BARROW HANLEY TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Mexico Government International Bond,
07/02/32(e)
$485,000
$490,820
4.28%, 08/14/41
1,765,000
1,352,519
3.77%, 05/24/61
2,545,000
1,498,369
 
5,374,134
Specialty Finance
1.0
%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 2.72%)
6.95%, 03/10/55(b)
1,675,000
1,740,643
Telecommunications
1.1
%
Rogers Communications, Inc.
(Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 2.62%)
7.13%, 04/15/55(b)
2,000,000
2,027,207
TOTAL FOREIGN ISSUER BONDS (Cost $18,455,521)
18,616,120
MORTGAGE-BACKED SECURITIES
47.7
%
Commercial Mortgage-Backed Securities
1.1
%
NRTH Mortgage Trust, Series 2024-PARK - Class A
(Floating, 1M CME Term SOFR + 1.64%, 1.64% Floor)
5.95%, 03/15/39(a)(b)
1,450,000
1,450,904
BX Commercial Mortgage Trust, Series 2021-VOLT - Class A
(Floating, 1M CME Term SOFR + 0.81%, 0.70% Floor)
5.13%, 09/15/36(a)(b)
532,856
531,190
 
1,982,094
Non-Agency Mortgage-Backed Security
0.1
%
Seasoned Loans Structured Transaction Trust, Series 2020-3 - Class A1C
2.00%, 11/25/30
109,740
101,219
U.S. Government Agencies
46.5
%
Fannie Mae Pool #850280
5.50%, 12/01/35
4,389
4,511
Fannie Mae Pool #AB6228
3.50%, 09/01/42
84,229
79,015
Fannie Mae Pool #AD4062
5.00%, 05/01/40
4,853
4,913
Fannie Mae Pool #AL2752
5.00%, 03/01/42
54,027
54,699
Fannie Mae Pool #AS5469
4.00%, 07/01/45
138,443
131,400
Fannie Mae Pool #AS5597
3.50%, 08/01/45
59,681
55,368
Fannie Mae Pool #AS7170
3.50%, 05/01/46
69,120
63,783
Fannie Mae Pool #AS7242
3.50%, 05/01/46
60,952
56,232
Fannie Mae Pool #AS8299
3.00%, 11/01/46
238,063
213,307
Fannie Mae Pool #AS8947
3.50%, 03/01/47
126,830
116,931
37
BARROW HANLEY FUNDS
BARROW HANLEY TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Fannie Mae Pool #AS9772
3.50%, 06/01/37
$76,344
$73,762
Fannie Mae Pool #AS9988
4.50%, 07/01/47
32,394
31,512
Fannie Mae Pool #AU1625
3.50%, 07/01/43
79,766
74,646
Fannie Mae Pool #BC4764
3.00%, 10/01/46
80,019
70,983
Fannie Mae Pool #BC9468
3.00%, 06/01/46
166,478
148,001
Fannie Mae Pool #BH8279
3.50%, 09/01/47
103,771
95,472
Fannie Mae Pool #BM1150
3.00%, 12/01/46
91,315
81,367
Fannie Mae Pool #BN6625
3.50%, 05/01/49
638,520
590,266
Fannie Mae Pool #BO3007
3.00%, 10/01/34
27,120
26,160
Fannie Mae Pool #BU1322
2.50%, 02/01/52
2,645,208
2,220,885
Fannie Mae Pool #BV9960
4.00%, 06/01/52
864,568
809,052
Fannie Mae Pool #CA1563
4.50%, 04/01/48
24,340
23,563
Fannie Mae Pool #CA2055
4.50%, 07/01/48
68,632
66,744
Fannie Mae Pool #CA4372
4.50%, 10/01/49
35,310
34,219
Fannie Mae Pool #CA4569
4.00%, 11/01/49
175,174
165,088
Fannie Mae Pool #CA6645
3.00%, 08/01/50
159,628
139,681
Fannie Mae Pool #CA6951
2.50%, 09/01/50
177,938
149,291
Fannie Mae Pool #CB0855
3.00%, 06/01/51
91,324
79,737
Fannie Mae Pool #CB1384
2.50%, 08/01/51
3,143,324
2,637,520
Fannie Mae Pool #CB2857
2.50%, 02/01/52
946,009
795,829
Fannie Mae Pool #CB3486
3.50%, 05/01/52
444,161
401,296
Fannie Mae Pool #CB3878
5.00%, 06/01/52
446,268
442,640
Fannie Mae Pool #CB7980
5.50%, 02/01/54
1,465,018
1,474,351
Fannie Mae Pool #DA2948
5.50%, 10/01/53
1,377,236
1,378,274
38
BARROW HANLEY FUNDS
BARROW HANLEY TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Fannie Mae Pool #FM1306
4.50%, 07/01/48
$184,490
$180,010
Fannie Mae Pool #FM4053
2.50%, 08/01/50
138,899
116,792
Fannie Mae Pool #FM4638
2.50%, 10/01/50
86,733
72,603
Fannie Mae Pool #FM4720
3.00%, 10/01/50
110,596
97,141
Fannie Mae Pool #FM4828
3.00%, 11/01/50
1,040,900
907,603
Fannie Mae Pool #FM4901
2.00%, 11/01/35
94,344
86,835
Fannie Mae Pool #FM5204
2.00%, 12/01/35
87,544
80,477
Fannie Mae Pool #FM5537
2.00%, 01/01/36
226,045
207,790
Fannie Mae Pool #FM6943
2.00%, 04/01/51
376,589
303,192
Fannie Mae Pool #FM7377
3.00%, 05/01/51
193,110
169,726
Fannie Mae Pool #FM7708
3.50%, 06/01/51
224,071
202,779
Fannie Mae Pool #FM8787
2.50%, 10/01/51
2,897,085
2,433,091
Fannie Mae Pool #FM9765
3.00%, 11/01/51
210,939
182,907
Fannie Mae Pool #FS1564
2.00%, 04/01/51
301,116
238,479
Fannie Mae Pool #FS1704
4.00%, 05/01/52
163,731
153,523
Fannie Mae Pool #FS1807
3.50%, 07/01/51
294,895
268,424
Fannie Mae Pool #FS3071
3.00%, 07/01/52
2,527,522
2,214,119
Fannie Mae Pool #FS3159
4.50%, 10/01/52
746,616
718,103
Fannie Mae Pool #FS3533
2.00%, 01/01/52
438,586
352,501
Fannie Mae Pool #FS3744
2.00%, 07/01/51
2,798,460
2,232,032
Fannie Mae Pool #FS4075
5.00%, 04/01/53
741,373
731,914
Fannie Mae Pool #FS4621
5.00%, 06/01/53
268,520
266,228
Fannie Mae Pool #FS4624
2.50%, 11/01/51
310,508
259,138
Fannie Mae Pool #FS5044
4.50%, 06/01/53
1,837,414
1,778,162
39
BARROW HANLEY FUNDS
BARROW HANLEY TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Fannie Mae Pool #FS6141
2.00%, 01/01/52
$2,361,920
$1,887,309
Fannie Mae Pool #FS6787
6.00%, 01/01/54
1,486,974
1,526,127
Fannie Mae Pool #FS8138
6.50%, 06/01/54
584,842
609,571
Fannie Mae Pool #FS8291
5.50%, 07/01/53
2,127,889
2,144,519
Fannie Mae Pool #FS9085
3.00%, 12/01/51
1,095,554
951,425
Fannie Mae Pool #FS9456
5.50%, 11/01/54
1,630,636
1,634,976
Fannie Mae Pool #MA1870
4.50%, 04/01/34
48,151
48,267
Fannie Mae Pool #MA3101
4.50%, 08/01/47
71,436
69,565
Fannie Mae Pool #MA4327
3.00%, 05/01/51
163,685
142,853
Fannie Mae Pool #MA4475
2.50%, 11/01/41
180,274
160,770
Fannie Mae Pool #MA4841
5.00%, 12/01/52
2,261,070
2,229,316
Fannie Mae Pool #MA5039
5.50%, 06/01/53
210,652
210,963
Freddie Mac Gold Pool #G60990
3.00%, 04/01/47
306,490
267,945
Freddie Mac Gold Pool #G61281
3.50%, 01/01/48
90,535
83,158
Freddie Mac Gold Pool #J25557
3.50%, 09/01/28
19,672
19,416
Freddie Mac Gold Pool #J37949
3.00%, 11/01/32
56,773
55,186
Freddie Mac Gold Pool #Q55227
4.00%, 04/01/48
110,999
104,298
Freddie Mac Pool #QD1484
2.50%, 11/01/51
350,077
294,632
Freddie Mac Pool #QK1511
3.50%, 05/01/42
313,616
294,754
Freddie Mac Pool #RA2970
2.50%, 07/01/50
653,440
547,614
Freddie Mac Pool #RA4218
2.50%, 12/01/50
91,136
76,621
Freddie Mac Pool #RB5126
2.50%, 09/01/41
218,813
195,321
Freddie Mac Pool #RB5136
2.50%, 11/01/41
199,409
177,835
Freddie Mac Pool #RB5170
4.00%, 06/01/42
1,098,530
1,060,032
40
BARROW HANLEY FUNDS
BARROW HANLEY TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Freddie Mac Pool #RC1421
2.50%, 06/01/35
$490,133
$459,399
Freddie Mac Pool #RJ1265
5.50%, 04/01/54
2,270,088
2,276,131
Freddie Mac Pool #SD1061
2.50%, 05/01/52
181,146
152,006
Freddie Mac Pool #SD1836
2.00%, 02/01/52
380,079
303,701
Freddie Mac Pool #SD3511
6.00%, 08/01/53
1,334,275
1,359,094
Freddie Mac Pool #SD3669
5.50%, 09/01/53
677,160
685,420
Freddie Mac Pool #SD3824
6.00%, 03/01/53
1,021,090
1,052,990
Freddie Mac Pool #SD4227
4.50%, 05/01/53
1,935,743
1,855,308
Freddie Mac Pool #SD4495
6.00%, 12/01/53
179,340
183,552
Freddie Mac Pool #SD4901
5.50%, 02/01/54
1,282,727
1,287,346
Freddie Mac Pool #SD5092
5.00%, 08/01/53
1,319,743
1,298,130
Freddie Mac Pool #SD5223
6.00%, 04/01/54
1,009,243
1,033,695
Freddie Mac Pool #SD6046
6.00%, 08/01/54
1,593,585
1,630,316
Freddie Mac Pool #SD6260
5.00%, 09/01/54
1,706,400
1,682,523
Freddie Mac Pool #SD6548
5.50%, 10/01/54
1,624,669
1,633,264
Freddie Mac Pool #SD8090
2.00%, 09/01/50
734,530
586,312
Freddie Mac Pool #SD8199
2.00%, 03/01/52
835,343
662,988
Freddie Mac Pool #SD8267
5.00%, 11/01/52
2,872,911
2,829,274
Freddie Mac Pool #SL1016
5.50%, 05/01/55
2,373,415
2,383,683
Ginnie Mae I Pool #723248
5.00%, 10/15/39
80,066
81,124
Ginnie Mae I Pool #783403
3.50%, 09/15/41
115,419
107,742
Ginnie Mae II Pool #CE1974
3.00%, 08/20/51
220,779
197,826
Ginnie Mae II Pool #MA4778
3.50%, 10/20/47
49,631
45,850
Ginnie Mae II Pool #MA4901
4.00%, 12/20/47
49,112
46,245
41
BARROW HANLEY FUNDS
BARROW HANLEY TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
Ginnie Mae II Pool #MA4963
4.00%, 01/20/48
$21,582
$20,310
Ginnie Mae II Pool #MA6413
5.00%, 01/20/50
136,500
136,248
Ginnie Mae II Pool #MA6477
4.50%, 02/20/50
47,098
45,764
Ginnie Mae II Pool #MA6545
5.00%, 03/20/50
28,503
28,457
Ginnie Mae II Pool #MA6598
2.50%, 04/20/50
229,262
195,456
Ginnie Mae II Pool #MA7418
2.50%, 06/20/51
230,393
195,840
Ginnie Mae II Pool #MA7419
3.00%, 06/20/51
1,538,989
1,362,816
Ginnie Mae II Pool #MA7472
2.50%, 07/20/51
484,463
411,805
Ginnie Mae II Pool #MA7705
2.50%, 11/20/51
708,715
602,419
Ginnie Mae II Pool #MA7768
3.00%, 12/20/51
1,614,784
1,428,935
Ginnie Mae II Pool #MA7829
3.50%, 01/20/52
162,618
148,489
Ginnie Mae II Pool #MA7939
4.00%, 03/20/52
1,477,576
1,380,402
Ginnie Mae II Pool #MA7987
2.50%, 04/20/52
1,010,735
859,136
Ginnie Mae II Pool #MA8268
4.50%, 09/20/52
660,956
638,126
Ginnie Mae II Pool #MA8800
5.00%, 04/20/53
2,221,709
2,195,012
Ginnie Mae II Pool #MA8874
3.00%, 05/20/53
942,035
841,734
Ginnie Mae II Pool #MA8943
3.00%, 06/20/53
1,512,900
1,338,726
Ginnie Mae II Pool #MA9017
5.50%, 07/20/53
2,229,475
2,243,852
Ginnie Mae II Pool #MB0091
5.00%, 12/20/54
1,412,939
1,388,778
Ginnie Mae II Pool #MB0366
5.50%, 05/20/55
344,223
344,885
Government National Mortgage Association, Series 2023-111 - Class PH
5.00%, 05/20/53
576,561
578,002
 
82,055,651
TOTAL MORTGAGE-BACKED SECURITIES (Cost $84,223,247)
84,138,964
U.S. GOVERNMENT OBLIGATIONS
11.2
%
U.S. Treasury Notes,
0.25%, 08/31/25
16,530,000
16,414,096
42
BARROW HANLEY FUNDS
BARROW HANLEY TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Principal Amount
Value
U.S. Treasury Notes,
4.38%, 05/15/34
$1,180,000
$1,198,391
U.S. Treasury Notes,
4.88%, 04/30/26
2,155,000
2,168,469
TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost $19,766,496)
19,780,956
 
 
Percentage
of Net
Assets
Shares
Value
SHORT-TERM INVESTMENTS
0.5
%
Northern Institutional Treasury Portfolio (Premier Class), 4.16%(f)
862,353
862,353
TOTAL SHORT-TERM INVESTMENTS (Cost $862,353)
862,353
TOTAL INVESTMENTS
(Cost $175,424,375)
99.7
%
175,923,581
NET OTHER ASSETS (LIABILITIES)
0.3
%
551,330
NET ASSETS
100.0
%
$176,474,911
 
(a)Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally
to qualified institutional buyers. As of June 30, 2025, these securities had a total value of $16,951,569 or 10% of net assets.
(b)Variable or floating rate security. The rate presented is the rate in effect at June 30, 2025, and the related index and spread are shown parenthetically for each security.
(c)Perpetual bond. Maturity date represents next call date.
(d)Amount rounds to less than 0.05%.
(e)When-Issued Security. Coupon rate is not in effect at June 30, 2025.
(f)7-day current yield as of June 30, 2025 is disclosed.
 
Abbreviations:
SOFR – Secured Overnight Financing Rate
At June 30, 2025 the Barrow Hanley Total Return Bond Fund's investments were concentrated as follows: 
Fixed Income Credit Ratings
% of Net Assets
AAA 
51.0%
AA 
11.2 
AA- 
0.0 
A+ 
0.1 
A 
5.4 
A- 
0.6 
BBB+ 
6.5 
BBB 
13.1 
BBB- 
7.7 
BB+ 
0.3 
BB 
1.3 
Cash equivalents 
0.5 
N/A 
2.0 
Total
99.7%
43
BARROW HANLEY FUNDS
BARROW HANLEY US VALUE OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
 
Percentage
of Net
Assets
Shares
Value
COMMON STOCKS
98.1
%
Automotive
1.2
%
Aptiv PLC(a)
17,649
$1,204,015
Banking
7.0
%
Wells Fargo & Co.
25,327
2,029,199
Bank of America Corp.
49,644
2,349,154
Comerica, Inc.
21,924
1,307,767
Western Alliance Bancorp
17,223
1,343,049
 
7,029,169
Beverages
1.7
%
Keurig Dr. Pepper, Inc.
50,937
1,683,977
Biotechnology & Pharmaceuticals
4.0
%
Merck & Co., Inc.
18,148
1,436,596
Sanofi S.A. - ADR
26,862
1,297,703
Elanco Animal Health, Inc.(a)
86,732
1,238,533
 
3,972,832
Chemicals
3.7
%
Air Products and Chemicals, Inc.
5,265
1,485,046
Axalta Coating Systems Ltd.(a)
39,830
1,182,553
DuPont de Nemours, Inc.
15,041
1,031,662
 
3,699,261
Construction Materials
2.2
%
Knife River Corp.(a)
11,372
928,410
CRH PLC
13,357
1,226,173
 
2,154,583
Electric Utilities
6.5
%
Entergy Corp.
20,863
1,734,133
CenterPoint Energy, Inc.
44,449
1,633,056
Xcel Energy, Inc.
23,153
1,576,719
Pinnacle West Capital Corp.
17,180
1,537,095
 
6,481,003
Electrical Equipment
7.7
%
Littelfuse, Inc.
4,803
1,088,984
Johnson Controls International PLC
19,644
2,074,799
Fortive Corp.
15,968
832,412
BWX Technologies, Inc.
10,167
1,464,658
Vertiv Holdings Co. - Class A
15,230
1,955,685
Ralliant Corp.(a)
5,323
258,096
 
7,674,634
Engineering & Construction
4.3
%
AECOM
14,305
1,614,462
TopBuild Corp.(a)
2,471
799,962
Everus Construction Group, Inc.(a)
29,119
1,849,930
 
4,264,354
Entertainment Content
2.5
%
Electronic Arts, Inc.
7,812
1,247,576
Warner Music Group Corp. - Class A
46,898
1,277,502
 
2,525,078
44
BARROW HANLEY FUNDS
BARROW HANLEY US VALUE OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Shares
Value
Gas & Water Utilities
1.5
%
MDU Resources Group, Inc.
89,249
$1,487,781
Health Care Facilities & Services
2.4
%
UnitedHealth Group, Inc.
4,278
1,334,607
Elevance Health, Inc.
2,805
1,091,033
 
2,425,640
Home Construction
1.0
%
Lennar Corp. - Class A
9,207
1,018,386
Industrial Support Services
1.0
%
WESCO International, Inc.
5,497
1,018,044
Institutional Financial Services
1.1
%
Jefferies Financial Group, Inc.
20,836
1,139,521
Insurance
5.1
%
Willis Towers Watson PLC
5,026
1,540,469
American International Group, Inc.
15,990
1,368,584
Chubb Ltd.
4,270
1,237,104
Allstate (The) Corp.
4,511
908,110
 
5,054,267
Internet Media & Services
1.4
%
Alphabet, Inc. - Class C
7,781
1,380,272
IT Services
3.2
%
CACI International, Inc. - Class A(a)
4,115
1,961,621
Cognizant Technology Solutions Corp. - Class A
15,744
1,228,504
 
3,190,125
Leisure Facilities & Services
5.1
%
Wynn Resorts Ltd.
16,090
1,507,150
Carnival Corp.(a)
86,132
2,422,032
United Parks & Resorts, Inc.(a)
25,526
1,203,551
 
5,132,733
Medical Equipment & Devices
2.8
%
Medtronic PLC
19,342
1,686,042
Avantor, Inc.(a)
85,691
1,153,401
 
2,839,443
Oil & Gas Supply Chain
6.9
%
Exxon Mobil Corp.
18,049
1,945,682
Chevron Corp.
10,106
1,447,078
Phillips 66
11,527
1,375,171
Enbridge, Inc.
23,254
1,053,872
Permian Resources Corp.
76,082
1,036,237
 
6,858,040
Oil, Gas Services & Equipment
0.8
%
Halliburton Co.
39,086
796,573
Real Estate Investment Trusts
6.3
%
Mid-America Apartment Communities, Inc.
6,558
970,650
Prologis, Inc.
14,543
1,528,760
Public Storage
4,239
1,243,807
SBA Communications Corp.
4,561
1,071,105
VICI Properties, Inc.
45,003
1,467,098
 
6,281,420
45
BARROW HANLEY FUNDS
BARROW HANLEY US VALUE OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2025 (Unaudited)
 
Percentage
of Net
Assets
Shares
Value
Semiconductors
4.4
%
Microchip Technology, Inc.
22,375
$1,574,529
QUALCOMM, Inc.
9,663
1,538,929
Entegris, Inc.
16,454
1,327,015
 
4,440,473
Software
3.3
%
Oracle Corp.
7,501
1,639,944
Nice Ltd. - ADR(a)
9,995
1,688,255
 
3,328,199
Specialty Finance
7.1
%
American Express Co.
5,322
1,697,612
Capital One Financial Corp.
8,644
1,839,097
Fidelity National Information Services, Inc.
21,730
1,769,039
SLM Corp.
53,591
1,757,249
 
7,062,997
Technology Hardware
1.5
%
Ciena Corp.(a)
18,503
1,504,849
Tobacco & Cannabis
1.7
%
Philip Morris International, Inc.
9,508
1,731,692
Transportation & Logistics
0.7
%
JB Hunt Transport Services, Inc.
5,214
748,730
TOTAL COMMON STOCKS (Cost $78,875,338)
98,128,091
MASTER LIMITED PARTNERSHIPS
1.0
%
Oil & Gas Supply Chain
1.0
%
Plains GP Holdings L.P. - Class A(a)
51,080
992,484
TOTAL MASTER LIMITED PARTNERSHIPS (Cost $822,007)
992,484
SHORT-TERM INVESTMENTS
0.8
%
Northern Institutional Treasury Portfolio (Premier Class), 4.16%(b)
851,233
851,233
TOTAL SHORT-TERM INVESTMENTS (Cost $851,233)
851,233
TOTAL INVESTMENTS
(Cost $80,548,578)
99.9
%
99,971,808
NET OTHER ASSETS (LIABILITIES)
0.1
%
98,408
NET ASSETS
100.0
%
$100,070,216
 
(a)Non-income producing security.
(b)7-day current yield as of June 30, 2025 is disclosed.
 
Abbreviations:
ADR – American Depositary Receipt
46