Schedule of investments
Nomura Real Estate Securities Fund
June 30, 2026 (Unaudited)
    Number of
shares
Value (US $)
Common Stocks — 99.05%♣
Internet Services & Infrastructure — 1.17%
NEXTDC †   107,611 $ 1,090,199
   1,090,199
REIT Data Center — 11.57%
Blackstone Digital Infrastructure Trust †    22,883    494,959
Equinix      9,917 10,337,382
  10,832,341
REIT Healthcare — 23.79%
American Healthcare REIT     74,566  3,888,617
Healthpeak Properties     77,632  1,661,325
National Healthcare Properties †    60,589    887,629
Ventas     48,467  4,303,869
Welltower     50,790 11,527,806
  22,269,246
REIT Hotel — 2.83%
Ryman Hospitality Properties     11,687  1,502,364
Wyndham Hotels & Resorts     13,609  1,146,014
   2,648,378
REIT Industrial — 13.27%
First Industrial Realty Trust     61,950  3,798,154
Goodman Group     55,491  1,197,286
LXP Industrial Trust     20,130  1,084,604
Prologis     29,206  3,956,537
Rexford Industrial Realty     71,201  2,385,234
  12,421,815
REIT Multifamily — 6.15%
AvalonBay Communities     17,891  3,375,853
Essex Property Trust      8,148  2,375,875
   5,751,728
REIT Office — 2.05%
Kilroy Realty     51,070  1,913,593
   1,913,593
REIT Retail — 20.28%
Agree Realty     50,853  3,851,606
Federal Realty Investment Trust       9,801  1,209,835
InvenTrust Properties     47,343  1,675,942
Macerich     96,158  2,422,220
NETSTREIT    130,168  2,750,450
NNN REIT     22,913  1,066,142
Primaris Real Estate Investment Trust     15,568    244,456
Realty Income     20,652  1,279,598
Simon Property Group     20,043  4,482,617
  18,982,866
REIT Self-Storage — 5.69%
Extra Space Storage      8,529  1,239,264
Public Storage     12,848  4,089,647
   5,328,911
    Number of
shares
Value (US $)
Common Stocks♣ (continued)
REIT Single Family — 3.04%
Invitation Homes     94,296 $ 2,848,682
   2,848,682
REIT Specialty — 7.65%
Iron Mountain     32,352  4,086,381
VICI Properties    115,926  3,077,835
   7,164,216
REIT Telecom Tower — 1.56%
American Tower      8,951  1,464,115
   1,464,115
Total Common Stocks (cost $53,727,433) 92,716,090
 
Short-Term Investments — 0.57%
Money Market Mutual Funds — 0.57%
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 3.54%)   132,952    132,952
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 3.53%)   132,952    132,952
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 3.59%)   132,952    132,952
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 3.56%)   132,952    132,952
Total Short-Term Investments (cost $531,808)    531,808
Total Value of Securities—99.62%
(cost $54,259,241)
    93,247,898
Receivables and Other Assets Net of Liabilities—0.38%        352,833
Net Assets Applicable to 6,239,709 Shares Outstanding—100.00%     $93,600,731
Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.
Non-income producing security.
Summary of abbreviations:
REIT – Real Estate Investment Trust
NQ- IV063 [0626] 0826 (5831270)    1