| FMI Common Stock Fund | |
| SCHEDULE OF INVESTMENTS | |
June 30, 2021 (Unaudited)
| |
| | | | |
| Shares | | | Value |
| COMMON STOCKS - 97.9% (a) | |
COMMERCIAL SERVICES SECTOR - 20.0% | |
| | | Advertising/Marketing Services - 4.3% | |
| 1,275,000 | | Interpublic Group of Cos. Inc. | $
| 41,424,750 |
| | | Miscellaneous Commercial Services - 10.0% | |
| 315,000 | | CDK Global Inc. | 15,652,350 |
| 83,822 | | Concentrix Corp. * | 13,478,578 |
| 174,000 | | FTI Consulting Inc. * | 23,770,140 |
| 940,000 | | Genpact Ltd. | 42,704,200 |
| | | | 95,605,268 |
| | | Personnel Services - 5.7% | |
| 160,000 | | ManpowerGroup Inc. | 19,025,600 |
| 400,000 | | Robert Half International Inc. | 35,588,000 |
| | | | 54,613,600 |
CONSUMER DURABLES SECTOR - 1.1% | |
| | | Homebuilding - 1.1% | |
| 65,000 | | LGI Homes Inc. * | 10,526,100 |
CONSUMER SERVICES SECTOR - 2.5% | |
| | | Other Consumer Services - 2.5% | |
| 37,000 | | Graham Holdings Co. | 23,454,300 |
DISTRIBUTION SERVICES SECTOR - 11.2% | |
| | | Electronics Distributors - 3.6% | |
| 300,000 | | Arrow Electronics Inc. * | 34,149,000 |
| | | Medical Distributors - 5.5% | |
| 430,000 | | Henry Schein Inc. * | 31,901,700 |
| 387,000 | | Herbalife Nutrition Ltd. * | 20,406,510 |
| | | | 52,308,210 |
| | | Wholesale Distributors - 2.1% | |
| 225,000 | | Applied Industrial Technologies Inc. | 20,488,500 |
ELECTRONIC TECHNOLOGY SECTOR - 7.8% | |
| | | Aerospace & Defense - 1.5% | |
| 67,000 | | Huntington Ingalls Industries Inc. | 14,120,250 |
| | | Electronic Components - 6.3% | |
| 910,000 | | nVent Electric PLC | 28,428,400 |
| 350,000 | | Plexus Corp. * | 31,993,500 |
| | | | 60,421,900 |
FINANCE SECTOR - 23.3% | |
| | | Finance/Rental/Leasing - 6.4% | |
| 578,000 | | FirstCash Inc. | 44,182,320 |
| 225,000 | | Ryder System Inc. | 16,724,250 |
| | | | 60,906,570 |
| | | Investment Banks/Brokers - 4.4% | |
| 517,000 | | Houlihan Lokey Inc. - Cl A | 42,285,430 |
| | | Life/Health Insurance - 2.7% | |
| 165,000 | | Primerica Inc. | 25,268,100 |
| | | Multi-Line Insurance - 1.3% | |
| 11,000 | | White Mountains Insurance Group Ltd. | 12,628,330 |
| | | Real Estate Development - 4.8% | |
| 240,000 | | The Howard Hughes Corp. * | 23,390,400 |
| 1,150,000 | | Kennedy-Wilson Holdings Inc. | 22,850,500 |
| | | | 46,240,900 |
| | | Regional Banks - 3.7% | |
| 670,000 | | Zions Bancorporation N.A. | 35,416,200 |
HEALTH TECHNOLOGY SECTOR - 4.0% | |
| | | Medical Specialties - 2.5% | |
| 376,813 | | Dentsply Sirona Inc. | 23,837,190 |
| | | Pharmaceuticals: Major - 1.5% | |
| 500,000 | | Phibro Animal Health Corp. | 14,440,000 |
PROCESS INDUSTRIES SECTOR - 2.3% | |
| | | Industrial Specialties - 2.3% | |
| 350,000 | | Donaldson Co. Inc. | 22,235,500 |
PRODUCER MANUFACTURING SECTOR - 22.6% | |
| | | Building Products - 3.2% | |
| 150,000 | | A.O. Smith Corp. | 10,809,000 |
| 95,000 | | Armstrong World Industries Inc. | 10,189,700 |
| 88,000 | | Simpson Manufacturing Co. Inc. | 9,718,720 |
| | | | 30,717,420 |
| | | Industrial Machinery - 5.8% | |
| 170,000 | | EnPro Industries Inc. | 16,515,500 |
| 530,000 | | Flowserve Corp. | 21,369,600 |
| 140,000 | | Woodward Inc. | 17,203,200 |
| | | | 55,088,300 |
| | | Miscellaneous Manufacturing - 12.1% | |
| 170,000 | | Brady Corp. - Cl A | 9,526,800 |
| 287,000 | | Carlisle Cos. Inc. | 54,926,060 |
| 145,000 | | LCI Industries | 19,055,900 |
| 1,045,000 | | TriMas Corp. * | 31,694,850 |
| | | | 115,203,610 |
| | | Trucks/Construction/Farm Machinery - 1.5% | |
| 530,000 | | Trinity Industries Inc. | 14,251,700 |
TECHNOLOGY SERVICES SECTOR - 3.1% | |
| | | Information Technology Services - 3.1% | |
| 292,000 | | Insight Enterprises Inc. * | 29,202,920 |
| | | Total common stocks (cost $622,096,866) | 934,834,048 |
| | | | |
Principal
Amount | | | |
| SHORT-TERM INVESTMENTS - 2.1% (a) | |
| | | Bank Deposit Account - 2.1% | |
$
| 19,913,547
| | U.S. Bank N.A., 0.006% ^ | 19,913,547 |
| | | Total short-term investments (cost $19,913,547) | 19,913,547 |
| | | Total investments - 100.0% (cost $642,010,413) | 954,747,595 |
| | | | |
| | | Other assets, less liabilities - 0.0% (a) | 497,552 |
| | | TOTAL NET ASSETS - 100.0% | $ | 955,245,147 |
| | | | |
| * | | Non-income producing security. | |
| ^ | | The rate shown is as of June 30, 2021. | |
| (a) | | Percentages for the various classifications relate to total net assets. |
| PLC | | -Public Limited Company | |
