Schedule of investments
Nomura Small Cap Value Fund August 31, 2026 (Unaudited)
    Number of
shares 		Value (US $)
Common Stocks — 98.77%♣
Consumer Discretionary — 9.33%
Academy Sports & Outdoors       355,750 $   15,283,020
Acushnet Holdings       236,597     20,439,615
Boyd Gaming       388,624     30,153,336
Choice Hotels International       200,309     20,703,938
Group 1 Automotive       101,321     27,310,062
KB Home       337,371     17,981,874
Life Time Group Holdings †      794,800     33,397,496
M/I Homes †      190,738     28,383,722
Meritage Homes       412,205     28,619,393
OneSpaWorld Holdings     1,069,900     26,565,617
Patrick Industries       263,938     21,569,013
Steven Madden       427,042     18,439,674
Texas Roadhouse       111,393    21,788,471
    310,635,231
Consumer Staples — 0.81%
Performance Food Group †      270,352    26,810,808
     26,810,808
Energy — 7.47%
Gulfport Energy †      170,745     30,640,190
International Seaways       463,692     45,738,579
Kinetik Holdings       538,255     29,512,522
Kodiak Gas Services       528,819     31,078,692
Liberty Energy       833,618     16,430,611
Magnolia Oil & Gas Class A     1,249,240     33,542,094
Matador Resources       533,598     30,954,020
Noble       673,455    30,864,443
    248,761,151
Financials — 30.79%
Amalgamated Financial       729,654     35,074,468
Assurant        98,799     27,847,486
Axis Capital Holdings       523,232     51,684,857
Bank of NT Butterfield & Son       776,439     45,716,728
Bread Financial Holdings       379,958     39,694,212
Columbia Banking System     1,767,801     52,397,622
ConnectOne Bancorp     1,088,500     34,222,440
Eastern Bankshares     1,892,500     41,559,300
Essent Group       620,022     41,888,686
F&G Annuities & Life       807,600     19,220,880
First Financial Bancorp     1,896,607     61,886,287
FNB     3,109,160     56,679,987
NQ- 021 [0826] 1026 (6010768)    1

 

Schedule of investments
Nomura Small Cap Value Fund 
    Number of
shares 		Value (US $)
Common Stocks♣ (continued)
Financials (continued)
Hancock Whitney       778,017 $   57,954,486
Hanover Insurance Group       132,183     29,887,898
Hope Bancorp     2,694,156     37,152,411
Merchants Bancorp       676,633     35,617,961
Old National Bancorp     2,394,230     61,244,403
Ridgepost Capital Class A     2,392,303     20,573,806
Selective Insurance Group       405,129     36,984,227
SLM     1,363,300     35,404,901
Stifel Financial       660,276     53,337,095
Valley National Bancorp     4,417,415     60,253,541
Voya Financial       437,691     44,346,852
WesBanco     1,121,400    44,867,214
  1,025,497,748
Healthcare — 2.99%
Bruker       291,100     16,886,711
ICU Medical †      210,991     36,490,893
Integer Holdings †       78,810      9,870,953
Merit Medical Systems †      401,798    36,427,007
     99,675,564
Industrials — 20.20%
Alliance Laundry Holdings †    1,344,150     30,794,476
Blue Bird †      292,750     17,023,413
CACI International Class A †       81,049     50,494,337
Centuri Holdings †    1,152,875     23,530,179
Everus Construction Group †      142,145     16,365,154
Gates Industrial †    1,624,147     41,545,680
Griffon       406,646     39,603,254
Helios Technologies       404,950     29,569,449
Herc Holdings       278,122     42,369,105
Huron Consulting Group †      195,256     31,219,482
ITT       217,196     43,502,187
KBR       646,336     24,237,600
Kirby †      177,363     25,160,715
Leonardo DRS       790,879     30,053,402
Louisiana-Pacific       403,670     28,462,772
Regal Rexnord       191,907     30,407,664
Saia †       50,753     18,023,913
Terex       856,365     54,387,741
Timken       391,547     47,161,836
WESCO International        70,564     24,019,986
2    NQ- 021 [0826] 1026 (6010768)

 

    Number of
shares 		Value (US $)
Common Stocks♣ (continued)
Industrials (continued)
Zurn Elkay Water Solutions       518,456 $   24,782,197
    672,714,542
Information Technology — 7.12%
ACI Worldwide †      848,537     45,210,051
Allegro MicroSystems †      536,327     19,441,854
Belden       355,894     40,735,627
Diodes †      315,031     28,604,815
N-able †    4,844,814     19,282,360
TD SYNNEX       242,447     61,302,724
TTM Technologies †      190,135    22,610,854
    237,188,285
Materials — 5.36%
Ashland       302,756     22,201,097
Avient       737,459     32,492,444
Axalta Coating Systems †      541,200     19,710,504
Constellium †    1,201,264     31,749,408
HB Fuller       392,900     21,589,855
Knife River †      237,016     14,860,903
Ryerson Holding       588,622     14,750,867
Silgan Holdings       510,366    21,200,604
    178,555,682
Real Estate — 8.97%
Agree Realty       562,155     40,615,699
Apple Hospitality REIT     1,784,755     28,466,842
CBL & Associates Properties       326,444     17,853,222
Centerspace       303,936     15,953,601
Independence Realty Trust     2,131,481     34,487,362
Kite Realty Group Trust     1,501,056     38,727,245
LXP Industrial Trust       714,546     43,380,088
National Health Investors       375,254     26,684,312
Newmark Group Class A     1,411,757     21,501,059
Sabra Health Care REIT     1,527,750    31,150,822
    298,820,252
Utilities — 5.73%
Black Hills       501,675     35,960,064
California Water Service Group       586,100     29,287,417
New Jersey Resources       709,134     37,825,208
OGE Energy     1,004,959     45,856,279
NQ- 021 [0826] 1026 (6010768)    3

 

Schedule of investments
Nomura Small Cap Value Fund 
    Number of
shares 		Value (US $)
Common Stocks♣ (continued)
Utilities (continued)
Southwest Gas Holdings       473,115 $   41,790,248
    190,719,216
Total Common Stocks (cost $2,189,012,800) 3,289,378,479
Short-Term Investments — 1.21%
Money Market Mutual Funds — 1.21%
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 3.57%)   10,065,585     10,065,585
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 3.56%)   10,065,585     10,065,585
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 3.65%)   10,065,585     10,065,585
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 3.58%)   10,065,586    10,065,586
Total Short-Term Investments (cost $40,262,341)    40,262,341
Total Value of Securities—99.98%
(cost $2,229,275,141) 		    3,329,640,820
Receivables and Other Assets Net of Liabilities—0.02%           579,267
Net Assets Applicable to 43,238,422 Shares Outstanding—100.00%     $3,330,220,087
♣ 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
4    NQ- 021 [0826] 1026 (6010768)