| FMI Common Stock Fund | | |
| SCHEDULE OF INVESTMENTS | | |
June 30, 2022 (Unaudited)
| | |
| | | | |
| Shares | | | Value |
| COMMON STOCKS - 97.6% (a) | | |
COMMERCIAL SERVICES SECTOR - 17.8% | | |
| | | Advertising/Marketing Services - 3.9% | |
| 1,301,000 | | Interpublic Group of Cos. Inc. | $
| 35,816,530 |
| | | Miscellaneous Commercial Services - 9.9% | |
| 133,000 | | Concentrix Corp. | 18,040,120 |
| 154,000 | | FTI Consulting Inc. * | 27,850,900 |
| 1,078,000 | | Genpact Ltd. | 45,664,080 |
| | | | 91,555,100 |
| | | Personnel Services - 4.0% | |
| 159,000 | | ManpowerGroup Inc. | 12,149,190 |
| 336,000 | | Robert Half International Inc. | 25,163,040 |
| | | | 37,312,230 |
CONSUMER DURABLES SECTOR - 2.0% | | |
| | | Homebuilding - 2.0% | |
| 212,000 | | LGI Homes Inc. * | 18,422,800 |
CONSUMER NON-DURABLES SECTOR - 3.2% | | |
| | | Apparel/Footwear - 3.2% | |
| 843,000 | | Skechers U.S.A. Inc. - Cl A * | 29,993,940 |
DISTRIBUTION SERVICES SECTOR - 13.2% | | |
| | | Electronics Distributors - 3.0% | |
| 249,000 | | Arrow Electronics Inc. * | 27,910,410 |
| | | Medical Distributors - 4.1% | |
| 494,000 | | Henry Schein Inc. * | 37,909,560 |
| | | Wholesale Distributors - 6.1% | |
| 240,000 | | Applied Industrial Technologies Inc. | 23,080,800 |
| 646,000 | | Beacon Roofing Supply Inc. * | 33,178,560 |
| | | | 56,259,360 |
ELECTRONIC TECHNOLOGY SECTOR - 7.0% | | |
| | | Electronic Components - 7.0% | |
| 1,027,000 | | nVent Electric PLC | 32,175,910 |
| 414,000 | | Plexus Corp. * | 32,499,000 |
| | | | 64,674,910 |
FINANCE SECTOR - 19.1% | | |
| | | Finance/Rental/Leasing - 5.0% | |
| 522,000 | | FirstCash Holdings Inc. | 36,284,220 |
| 188,000 | | Triton International Ltd. | 9,898,200 |
| | | | 46,182,420 |
| | | Investment Banks/Brokers - 2.9% | |
| 344,000 | | Houlihan Lokey Inc. - Cl A | 27,151,920 |
| | | Life/Health Insurance - 2.5% | |
| 197,000 | | Primerica Inc. | 23,578,930 |
| | | Multi-Line Insurance - 1.8% | |
| 13,000 | | White Mountains Insurance Group Ltd. | 16,199,690 |
| | | Real Estate Development - 3.8% | |
| 184,734 | | The Howard Hughes Corp. * | 12,571,149 |
| 1,173,000 | | Kennedy-Wilson Holdings Inc. | 22,216,620 |
| | | | 34,787,769 |
| | | Regional Banks - 3.1% | |
| 569,000 | | Zions Bancorporation N.A. | 28,962,100 |
HEALTH TECHNOLOGY SECTOR - 0.7% | | |
| | | Pharmaceuticals: Major - 0.7% | |
| 314,381 | | Phibro Animal Health Corp. | 6,014,109 |
PROCESS INDUSTRIES SECTOR - 3.1% | | |
| | | Industrial Specialties - 3.1% | |
| 597,000 | | Donaldson Co. Inc. | 28,739,580 |
PRODUCER MANUFACTURING SECTOR - 16.4% | | |
| | �� | Building Products - 8.8% | |
| 229,000 | | Carlisle Cos. Inc. | 54,641,690 |
| 266,000 | | Simpson Manufacturing Co. Inc. | 26,762,260 |
| | | | 81,403,950 |
| | | Industrial Machinery - 2.2% | |
| 1,002,000 | | Gates Industrial Corp. PLC * | 10,831,620 |
| 108,000 | | Woodward Inc. | 9,988,920 |
| | | | 20,820,540 |
| | | Miscellaneous Manufacturing - 5.4% | |
| 174,000 | | LCI Industries | 19,467,120 |
| 1,096,000 | | TriMas Corp. | 30,348,240 |
| | | | 49,815,360 |
RETAIL TRADE SECTOR - 7.1% | | |
| | | Discount Stores - 2.4% | |
| 194,000 | | Five Below Inc. * | 22,005,420 |
| | | Specialty Stores - 4.7% | |
| 700,000 | | BJ’s Wholesale Club Holdings Inc. * | 43,624,000 |
TECHNOLOGY SERVICES SECTOR - 8.0% | | |
| | | Information Technology Services - 6.2% | |
| 376,000 | | Insight Enterprises Inc. * | 32,441,280 |
| 516,000 | | KBR Inc. | 24,969,240 |
| | | | 57,410,520 |
| | | Packaged Software - 1.8% | |
| 310,000 | | CDK Global Inc. | 16,978,700 |
| | | Total common stocks (cost $742,959,757) | 903,529,848 |
| | | | |
Principal Amount | | | |
| SHORT-TERM INVESTMENTS - 2.4% (a) | | |
| | | Bank Deposit Account - 2.4% | |
$
| 22,096,261
| | U.S. Bank N.A., 1.25% ^ | 22,096,261 |
| | | Total short-term investments (cost $22,096,261) | 22,096,261 |
| | | Total investments - 100.0% (cost $765,056,018) | 925,626,109 |
| | | | |
| | | Other liabilities, less assets - (0.0%) (a) | (104,188) |
| | | TOTAL NET ASSETS - 100.0% | $
| 925,521,921 |
| | | |
| | | | |
| * | | Non-income producing security. | |
| ^ | | The rate shown is as of June 30, 2022. | |
| (a) | | Percentages for the various classifications relate to total net assets. |
| PLC | | -Public Limited Company | |
