Schedule of investments
Nomura Smid Cap Core Fund
June 30, 2026 (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks — 98.88%♣
Communication Services — 1.46%
IMAX †     104,624 $  4,170,312
Nexstar Media Group        9,059   1,617,847
    5,788,159
Consumer Discretionary — 8.30%
Aramark       51,128    2,909,183
BorgWarner       45,995    3,054,068
Brinker International †      14,302    2,402,736
Dick's Sporting Goods       22,443    5,090,297
KB Home       21,786    1,363,586
Life Time Group Holdings †      98,966    4,041,771
Steven Madden       79,884    3,363,116
Texas Roadhouse       12,831    2,479,334
Toll Brothers       24,338    4,009,686
YETI Holdings †      82,824   4,104,758
   32,818,535
Consumer Staples — 2.78%
BJ's Wholesale Club Holdings †      19,196    1,674,275
Casey's General Stores        9,049    7,192,055
Performance Food Group †      19,123   2,137,760
   11,004,090
Energy — 4.51%
Expand Energy       42,374    3,864,085
International Seaways       33,402    2,558,259
Liberty Energy      218,591    5,724,899
Permian Resources Class A      308,025   5,670,740
   17,817,983
Financials — 15.09%
Ally Financial      132,003    6,065,538
Axis Capital Holdings       58,405    6,275,033
East West Bancorp       54,519    7,037,858
Essent Group       52,937    3,402,790
Evercore Class A        9,427    3,218,755
Hamilton Lane Class A       59,518    4,691,804
Reinsurance Group of America       17,974    3,822,171
SouthState Bank       56,762    5,670,524
Stifel Financial       74,513    5,198,772
UMB Financial        9,627    1,374,351
Webster Financial       57,458    4,390,940
WSFS Financial       41,540    3,187,364
Zions Bancorp       76,813   5,314,691
   59,650,591
Healthcare — 12.51%
Axsome Therapeutics †      27,592    6,753,694
Bio-Techne       36,450    2,575,192
Blueprint Medicines =, †      23,060            0
Encompass Health       29,226    2,954,164
Glaukos †      17,155    2,397,583
Guardant Health †      20,698    3,105,321
    Number of
shares 		Value (US $)
Common Stocks♣ (continued)
Healthcare (continued)
Halozyme Therapeutics †      59,740 $  4,675,850
Insmed †      38,893    4,146,772
Lantheus Holdings †      30,759    3,412,403
Ligand Pharmaceuticals †      23,328    7,373,748
Natera †       9,077    2,463,952
Neurocrine Biosciences †      33,638    5,669,180
OmniAb 12.5 =, †      10,854            0
OmniAb 15 =, †      10,854            0
Repligen †      13,581    1,852,992
Ultragenyx Pharmaceutical †      62,037   2,071,415
   49,452,266
Industrials — 26.31%
ABM Industries       30,798    1,362,504
API Group †      56,787    2,404,929
Applied Industrial Technologies       11,483    3,882,976
Arcosa       38,098    5,535,258
Bloom Energy Class A †       4,466    1,351,858
Boise Cascade       17,310    1,343,775
Carlisle        4,150    1,505,413
Carpenter Technology        5,596    3,451,837
Casella Waste Systems Class A †      21,362    2,071,473
Clean Harbors †      10,146    3,031,118
Dycom Industries †       4,353    2,200,833
ExlService Holdings †     109,490    2,831,411
Federal Signal       31,379    4,031,888
FTAI Aviation        6,099    1,649,962
Gates Industrial †     101,950    2,851,542
Graco       25,973    1,963,819
Kadant        6,154    1,933,771
KBR       37,627    1,299,260
Kirby †      35,687    4,852,361
Knight-Swift Transportation Holdings       38,388    2,989,274
Kratos Defense & Security Solutions †      21,291    1,061,569
Lincoln Electric Holdings       16,152    4,288,518
Mueller Industries        8,799    1,081,661
nVent Electric       20,652    3,502,786
Quanta Services        5,490    3,953,020
Regal Rexnord       17,805    4,240,973
Saia †       3,388    1,426,890
SPX Technologies †      11,291    2,768,214
Sterling Infrastructure †       2,236    1,876,809
Tecnoglass       51,022    2,388,340
Tetra Tech       82,569    2,385,418
Trex †      52,881    2,646,165
UL Solutions Class A       20,582    2,096,483
Vicor †       2,974    1,129,466
NQ- IV065 [0626] 0826 (5831270)    1

 

Schedule of investments
Nomura Smid Cap Core Fund 
    Number of
shares 		Value (US $)
Common Stocks♣ (continued)
Industrials (continued)
WESCO International       15,447 $  5,335,857
WillScot Holdings      130,271    3,759,621
X-Energy †     117,404    2,155,537
XPO †       6,606    1,356,146
Zurn Elkay Water Solutions       78,988   3,991,264
  103,989,999
Information Technology — 17.20%
Applied Digital †      24,083      898,296
Applied Optoelectronics †       9,966    1,476,563
Astera Labs †      13,876    6,702,385
Box Class A †      51,455    1,365,616
Coherent †      12,592    4,967,166
DigitalOcean Holdings †       9,500    1,491,785
Dynatrace †      44,070    1,935,114
Fabrinet †       2,466    1,386,089
Guidewire Software †      34,038    4,188,376
Hut 8 †       8,380      967,429
MACOM Technology Solutions Holdings †      20,220    7,691,081
MaxLinear †      10,439    1,336,505
MKS       11,056    4,917,709
Onto Innovation †       4,584    1,734,815
Procore Technologies †      31,980    1,299,028
PTC †       9,581    1,088,497
Q2 Holdings †      60,909    2,929,723
Rubrik Class A †      15,486    1,243,216
Semtech †      53,482    8,656,062
SiTime †       2,043    1,523,179
SPS Commerce †      24,783    1,416,844
Terawulf †      37,843      934,722
TTM Technologies †       8,430    1,576,579
Varonis Systems †      92,072    3,863,341
Viasat †      16,437    1,476,207
Viavi Solutions †      19,552     933,608
   67,999,935
Materials — 3.81%
Kaiser Aluminum       28,219    5,520,483
Minerals Technologies       75,072    5,553,076
Reliance       10,694   3,995,278
   15,068,837
Real Estate — 5.00%
Brixmor Property Group       88,508    2,790,657
Camden Property Trust       35,307    4,042,298
First Industrial Realty Trust       65,738    4,030,397
    Number of
shares 		Value (US $)
Common Stocks♣ (continued)
Real Estate (continued)
Healthpeak Properties       83,615 $  1,789,361
Jones Lang LaSalle †       9,928    3,077,184
Kite Realty Group Trust      142,779   4,052,068
   19,781,965
Utilities — 1.91%
Black Hills       41,407    3,080,681
Spire       57,214   4,467,841
    7,548,522
Total Common Stocks (cost $254,295,050) 390,920,882
 
Short-Term Investments — 1.30%
Money Market Mutual Funds — 1.30%
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 3.54%)   1,281,528    1,281,528
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 3.53%)   1,281,528    1,281,528
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 3.59%)   1,281,529    1,281,529
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 3.56%)   1,281,527   1,281,527
Total Short-Term Investments (cost $5,126,112)   5,126,112
Total Value of Securities—100.18%
(cost $259,421,162) 		    396,046,994
Liabilities Net of Receivables and Other Assets—(0.18%)        (723,106)
Net Assets Applicable to 16,662,292 Shares Outstanding—100.00%     $395,323,888
♣ Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes.
† Non-income producing security.
= The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security.
 
2    NQ- IV065 [0626] 0826 (5831270)