Column Small Cap Select Fund |
Schedule of Investments |
as of May 31, 2024 (Unaudited) |
COMMON STOCKS - 93.5% | Shares | Value | ||||
Aerospace & Defense - 1.6% | ||||||
AeroVironment, Inc.(a) | 5,704 | $ | 1,153,064 | |||
Axon Enterprise, Inc.(a) | 12,550 | 3,534,958 | ||||
BWX Technologies, Inc. | 23,215 | 2,138,798 | ||||
Curtiss-Wright Corp. | 7,412 | 2,096,262 | ||||
Embraer SA - ADR(a) | 56,856 | 1,580,028 | ||||
Leonardo DRS, Inc.(a) | 77,773 | 1,831,554 | ||||
Mercury Systems, Inc.(a) | 49,069 | 1,518,686 | ||||
Moog, Inc. - Class A | 6,795 | 1,151,277 | ||||
15,004,627 | ||||||
Automobile Components - 0.4% | ||||||
Fox Factory Holding Corp.(a) | 8,484 | 395,524 | ||||
LCI Industries | 2,362 | 259,537 | ||||
Modine Manufacturing Co.(a) | 27,612 | 2,786,603 | ||||
3,441,664 | ||||||
Banks - 4.9% | ||||||
Banc of California, Inc. | 125,994 | 1,746,277 | ||||
Bank of Hawaii Corp. | 8,235 | 475,489 | ||||
Cadence Bank | 92,660 | 2,645,443 | ||||
Comerica, Inc. | 97,896 | 5,016,191 | ||||
Community Financial System, Inc. | 18,401 | 836,509 | ||||
Cullen/Frost Bankers, Inc. | 8,490 | 862,414 | ||||
Customers Bancorp, Inc.(a) | 12,425 | 562,853 | ||||
Dime Community Bancshares, Inc. | 165,076 | 3,048,954 | ||||
First Financial Bankshares, Inc. | 21,055 | 631,229 | ||||
Glacier Bancorp, Inc. | 18,049 | 674,672 | ||||
Huntington Bancshares, Inc./OH | 105,647 | 1,470,606 | ||||
Lakeland Financial Corp. | 6,847 | 424,719 | ||||
National Bank Holdings Corp. - Class A | 127,224 | 4,639,859 | ||||
Popular, Inc. | 79,909 | 7,112,700 | ||||
Prosperity Bancshares, Inc. | 53,148 | 3,311,120 | ||||
Stock Yards Bancorp, Inc. | 7,840 | 367,304 | ||||
Texas Capital Bancshares, Inc.(a) | 45,994 | 2,772,518 | ||||
United Bankshares, Inc./WV | 68,925 | 2,235,927 | ||||
United Community Banks, Inc./GA | 22,780 | 584,535 | ||||
Western Alliance Bancorp | 75,517 | 4,759,837 | ||||
Zions Bancorp NA | 78,330 | 3,383,073 | ||||
47,562,229 | ||||||
Beverages - 0.5% | ||||||
Celsius Holdings, Inc.(a) | 24,292 | 1,942,874 | ||||
Coca-Cola Consolidated, Inc. | 3,138 | 3,078,504 | ||||
5,021,378 | ||||||
Biotechnology - 3.0% | ||||||
Apogee Therapeutics, Inc.(a) | 42,521 | 1,940,658 | ||||
Blueprint Medicines Corp.(a) | 17,942 | 1,893,957 | ||||
Crinetics Pharmaceuticals, Inc.(a) | 87,333 | 3,878,459 | ||||
Halozyme Therapeutics, Inc.(a) | 119,864 | 5,308,777 | ||||
Insmed, Inc.(a) | 3,389 | 186,564 | ||||
Iovance Biotherapeutics, Inc.(a) | 33,129 | 294,186 | ||||
Krystal Biotech, Inc.(a) | 5,946 | 951,657 | ||||
Kymera Therapeutics, Inc.(a) | 7,986 | 256,430 | ||||
Merus NV(a) | 36,484 | 1,942,408 | ||||
Natera, Inc.(a) | 35,373 | 3,768,286 | ||||
Nuvalent, Inc. - Class A(a) | 18,364 | 1,205,046 | ||||
Rhythm Pharmaceuticals, Inc.(a) | 12,054 | 430,087 | ||||
Ultragenyx Pharmaceutical, Inc.(a) | 21,001 | 842,980 | ||||
Vaxcyte, Inc.(a) | 50,865 | 3,574,284 | ||||
Xenon Pharmaceuticals, Inc.(a) | 73,575 | 2,801,000 | ||||
29,274,779 | ||||||
Building Products - 2.2% | ||||||
AAON, Inc. | 51,339 | 3,852,992 | ||||
Advanced Drainage Systems, Inc. | 13,600 | 2,359,464 | ||||
Armstrong World Industries, Inc. | 1,968 | 227,894 | ||||
AZEK Co., Inc.(a) | 23,598 | 1,131,760 | ||||
CSW Industrials, Inc. | 6,057 | 1,540,053 | ||||
Hayward Holdings, Inc.(a) | 45,149 | 654,209 | ||||
Janus International Group, Inc.(a) | 395,600 | 5,490,928 | ||||
JELD-WEN Holding, Inc.(a) | 66,295 | 1,028,236 | ||||
Resideo Technologies, Inc.(a) | 185,947 | 4,016,455 | ||||
Simpson Manufacturing Co., Inc. | 1,353 | 224,490 | ||||
Zurn Elkay Water Solutions Corp. | 39,685 | 1,242,537 | ||||
21,769,018 | ||||||
Capital Markets - 2.8% | ||||||
Artisan Partners Asset Management, Inc. - Class A | 70,885 | 3,121,067 | ||||
BGC Group, Inc. - Class A | 1,635,517 | 14,179,932 | ||||
Evercore, Inc. - Class A | 22,871 | 4,641,441 | ||||
Hamilton Lane, Inc. - Class A | 4,191 | 525,929 | ||||
Houlihan Lokey, Inc. | 5,809 | 786,248 | ||||
Perella Weinberg Partners | 225,771 | 3,485,904 | ||||
26,740,521 | ||||||
Chemicals - 4.3% | ||||||
Ashland, Inc. | 59,931 | 6,003,288 | ||||
Aspen Aerogels, Inc.(a) | 53,286 | 1,594,317 | ||||
Axalta Coating Systems Ltd.(a) | 84,800 | 3,018,032 | ||||
Chemours Co. | 140,685 | 3,491,802 | ||||
Element Solutions, Inc. | 273,527 | 6,572,854 | ||||
Mativ Holdings, Inc. | 76,295 | 1,371,021 | ||||
Quaker Chemical Corp. | 1,749 | 317,181 | ||||
Rayonier Advanced Materials, Inc.(a) | 1,406,824 | 7,948,556 | ||||
Tronox Holdings PLC | 560,074 | 11,095,066 | ||||
41,412,117 | ||||||
Commercial Services & Supplies - 1.7% | ||||||
Casella Waste Systems, Inc. - Class A(a) | 4,231 | 425,596 | ||||
Clean Harbors, Inc.(a) | 7,768 | 1,682,471 | ||||
Enviri Corp.(a) | 197,564 | 1,748,442 | ||||
Montrose Environmental Group, Inc.(a) | 26,797 | 1,259,727 | ||||
MSA Safety, Inc. | 6,299 | 1,133,820 | ||||
OPENLANE, Inc.(a) | 136,158 | 2,348,726 | ||||
Rollins, Inc. | 16,844 | 769,602 | ||||
Stericycle, Inc.(a) | 58,658 | 3,023,233 | ||||
Tetra Tech, Inc. | 18,240 | 3,821,098 | ||||
16,212,715 | ||||||
Communications Equipment - 1.1% | ||||||
Ciena Corp.(a) | 93,365 | 4,497,392 | ||||
Infinera Corp.(a) | 135,561 | 775,409 | ||||
Ribbon Communications, Inc.(a) | 604,131 | 1,896,971 | ||||
Viasat, Inc.(a) | 168,839 | 2,851,691 | ||||
Viavi Solutions, Inc.(a) | 133,364 | 1,002,897 | ||||
11,024,360 | ||||||
Construction & Engineering - 3.2% | ||||||
API Group Corp.(a) | 57,113 | 2,035,507 | ||||
Arcosa, Inc. | 205,671 | 18,080,538 | ||||
Comfort Systems USA, Inc. | 5,921 | 1,938,180 | ||||
EMCOR Group, Inc. | 2,769 | 1,076,199 | ||||
MasTec, Inc.(a) | 19,984 | 2,243,204 | ||||
Sterling Infrastructure, Inc.(a) | 12,411 | 1,524,940 | ||||
Valmont Industries, Inc. | 14,477 | 3,639,518 | ||||
30,538,086 | ||||||
Construction Materials - 0.4% | ||||||
Eagle Materials, Inc. | 7,500 | 1,742,925 | ||||
Knife River Corp.(a) | 23,510 | 1,662,392 | ||||
3,405,317 | ||||||
Consumer Finance - 0.9% | ||||||
Bread Financial Holdings, Inc. | 18,760 | 783,418 | ||||
EZCORP, Inc. - Class A(a) | 269,168 | 2,823,572 | ||||
FirstCash Holdings, Inc. | 39,954 | 4,711,376 | ||||
8,318,366 | ||||||
Consumer Staples Distribution & Retail - 0.6% | ||||||
Grocery Outlet Holding Corp.(a) | 168,855 | 3,713,122 | ||||
Sprouts Farmers Market, Inc.(a) | 23,940 | 1,890,781 | ||||
5,603,903 | ||||||
Containers & Packaging - 0.6% | ||||||
AptarGroup, Inc. | 7,050 | 1,041,214 | ||||
Avery Dennison Corp. | 21,608 | 4,917,765 | ||||
5,958,979 | ||||||
Distributors - 0.2% | ||||||
Pool Corp. | 4,192 | 1,524,002 | ||||
Diversified Consumer Services - 0.4% | ||||||
Bright Horizons Family Solutions, Inc.(a) | 5,919 | 622,205 | ||||
Duolingo, Inc.(a) | 9,450 | 1,808,730 | ||||
Grand Canyon Education, Inc.(a) | 6,850 | 975,851 | ||||
3,406,786 | ||||||
Electric Utilities - 0.5% | ||||||
ALLETE, Inc. | 30,559 | 1,929,801 | ||||
IDACORP, Inc. | 2,475 | 236,288 | ||||
Portland General Electric Co. | 49,562 | 2,208,483 | ||||
4,374,572 | ||||||
Electrical Equipment - 0.3% | ||||||
Atkore, Inc. | 6,580 | 1,001,147 | ||||
Babcock & Wilcox Enterprises, Inc.(a) | 240,016 | 280,819 | ||||
Bloom Energy Corp. - Class A(a) | 75,895 | 1,238,606 | ||||
2,520,572 | ||||||
Electronic Equipment Instruments & Components - 0.1% | ||||||
IPG Photonics Corp.(a) | 10,551 | 915,088 | ||||
Electronic Equipment, Instruments & Components - 2.7% | ||||||
Advanced Energy Industries, Inc. | 5,555 | 596,774 | ||||
Badger Meter, Inc. | 6,442 | 1,243,048 | ||||
Celestica, Inc.(a) | 20,491 | 1,145,857 | ||||
Coherent Corp.(a) | 43,047 | 2,456,262 | ||||
Fabrinet(a) | 24,519 | 5,873,036 | ||||
Innoviz Technologies Ltd.(a) | 198,269 | 208,182 | ||||
Insight Enterprises, Inc.(a) | 17,345 | 3,390,947 | ||||
Itron, Inc.(a) | 24,691 | 2,655,517 | ||||
Littelfuse, Inc. | 6,161 | 1,580,913 | ||||
Napco Security Technologies, Inc. | 30,175 | 1,498,189 | ||||
nLight, Inc.(a) | 47,327 | 622,350 | ||||
Novanta, Inc.(a) | 5,470 | 887,015 | ||||
OSI Systems, Inc.(a) | 16,020 | 2,302,715 | ||||
Rogers Corp.(a) | 3,939 | 464,802 | ||||
Teledyne Technologies, Inc.(a) | 3,553 | 1,410,363 | ||||
26,335,970 | ||||||
Energy Equipment & Services - 2.0% | ||||||
Cactus, Inc. - Class A | 10,883 | 558,842 | ||||
Dril-Quip, Inc.(a) | 33,635 | 650,501 | ||||
Oceaneering International, Inc.(a) | 29,696 | 703,201 | ||||
Patterson-UTI Energy, Inc. | 245,075 | 2,700,727 | ||||
TechnipFMC PLC | 206,059 | 5,396,685 | ||||
TETRA Technologies, Inc.(a) | 406,154 | 1,506,831 | ||||
Tidewater, Inc.(a) | 39,034 | 4,033,383 | ||||
Transocean Ltd.(a) | 75,943 | 470,847 | ||||
Weatherford International PLC(a) | 27,539 | 3,314,043 | ||||
19,335,060 | ||||||
Entertainment - 0.2% | ||||||
Lions Gate Entertainment Corp. - Class B(a) | 281,943 | 2,176,600 | ||||
Financial Services - 0.6% | ||||||
Cannae Holdings, Inc.(a) | 28,231 | 513,239 | ||||
Federal Agricultural Mortgage Corp. - Class C | 14,719 | 2,570,968 | ||||
Jack Henry & Associates, Inc. | 3,922 | 645,875 | ||||
Pagseguro Digital Ltd. - Class A(a) | 123,093 | 1,507,889 | ||||
Shift4 Payments, Inc. - Class A(a) | 7,157 | 481,523 | ||||
5,719,494 | ||||||
Food Products - 2.3% | ||||||
Adecoagro SA | 421,603 | 4,148,574 | ||||
Freshpet, Inc.(a) | 23,444 | 3,075,149 | ||||
Hain Celestial Group, Inc.(a) | 114,511 | 877,154 | ||||
Nomad Foods Ltd. | 651,891 | 11,447,206 | ||||
Simply Good Foods Co.(a) | 7,187 | 276,628 | ||||
TreeHouse Foods, Inc.(a) | 49,057 | 1,781,260 | ||||
Utz Brands, Inc. | 24,532 | 454,823 | ||||
22,060,794 | ||||||
Gas Utilities - 0.4% | ||||||
Atmos Energy Corp. | 18,082 | 2,096,065 | ||||
New Jersey Resources Corp. | 48,447 | 2,105,507 | ||||
4,201,572 | ||||||
Ground Transportation - 0.5% | ||||||
RXO, Inc.(a) | 80,960 | 1,652,394 | ||||
Saia, Inc.(a) | 8,949 | 3,664,436 | ||||
5,316,830 | ||||||
Health Care Equipment & Supplies - 4.3% | ||||||
Accuray, Inc.(a) | 277,897 | 491,878 | ||||
AtriCure, Inc.(a) | 43,221 | 974,201 | ||||
Atrion Corp. | 888 | 408,702 | ||||
Avanos Medical, Inc.(a) | 46,887 | 933,520 | ||||
CytoSorbents Corp.(a) | 6,648 | 5,984 | ||||
Enovis Corp.(a) | 206,082 | 10,359,742 | ||||
Glaukos Corp.(a) | 26,966 | 3,039,608 | ||||
Globus Medical, Inc. - Class A(a) | 54,390 | 3,650,113 | ||||
Haemonetics Corp.(a) | 43,992 | 3,698,847 | ||||
Integer Holdings Corp.(a) | 14,879 | 1,803,930 | ||||
Integra LifeSciences Holdings Corp.(a) | 40,961 | 1,265,695 | ||||
LivaNova PLC(a) | 27,245 | 1,663,852 | ||||
OraSure Technologies, Inc.(a) | 170,366 | 805,831 | ||||
RxSight, Inc.(a) | 13,645 | 797,823 | ||||
Tandem Diabetes Care, Inc.(a) | 43,968 | 2,252,481 | ||||
TransMedics Group, Inc.(a) | 50,418 | 6,877,015 | ||||
UFP Technologies, Inc.(a) | 4,217 | 1,097,938 | ||||
Varex Imaging Corp.(a) | 59,228 | 915,073 | ||||
Zimvie, Inc.(a) | 61,699 | 1,027,288 | ||||
42,069,521 | ||||||
Health Care Providers & Services - 2.6% | ||||||
Acadia Healthcare Co., Inc.(a) | 85,712 | 5,904,700 | ||||
AMN Healthcare Services, Inc.(a) | 38,255 | 2,139,985 | ||||
Chemed Corp. | 2,871 | 1,591,596 | ||||
CorVel Corp.(a) | 1,701 | 407,985 | ||||
HealthEquity, Inc.(a) | 31,855 | 2,601,916 | ||||
Molina Healthcare, Inc.(a) | 7,214 | 2,269,380 | ||||
Patterson Cos., Inc. | 58,822 | 1,446,433 | ||||
Tenet Healthcare Corp.(a) | 66,405 | 8,979,284 | ||||
25,341,279 | ||||||
Health Care Technology - 0.0%(b) | ||||||
Simulations Plus, Inc. | 7,969 | 384,425 | ||||
Hotels, Restaurants & Leisure - 2.6% | ||||||
Cava Group, Inc.(a) | 28,828 | 2,668,031 | ||||
Dutch Bros, Inc. - Class A(a) | 61,028 | 2,159,781 | ||||
International Game Technology PLC | 225,746 | 4,456,226 | ||||
Krispy Kreme, Inc. | 56,964 | 595,843 | ||||
PlayAGS, Inc.(a) | 503,639 | 5,817,031 | ||||
Red Rock Resorts, Inc. - Class A | 55,705 | 2,854,881 | ||||
Sweetgreen, Inc. - Class A(a) | 65,770 | 2,022,428 | ||||
Texas Roadhouse, Inc. | 9,215 | 1,591,154 | ||||
United Parks & Resorts, Inc.(a) | 17,407 | 910,212 | ||||
Wingstop, Inc. | 5,531 | 2,039,003 | ||||
25,114,590 | ||||||
Household Durables - 1.0% | ||||||
Installed Building Products, Inc. | 17,290 | 3,662,714 | ||||
Skyline Champion Corp.(a) | 53,587 | 3,730,191 | ||||
Tempur Sealy International, Inc. | 41,421 | 2,127,382 | ||||
9,520,287 | ||||||
Household Products - 0.1% | ||||||
Church & Dwight Co., Inc. | 3,900 | 417,339 | ||||
WD-40 Co. | 3,241 | 728,220 | ||||
1,145,559 | ||||||
Independent Power and Renewable Electricity Producers - 1.3% | ||||||
Ormat Technologies, Inc. | 68,529 | 5,167,086 | ||||
Vistra Corp. | 73,636 | 7,295,855 | ||||
12,462,941 | ||||||
Insurance - 4.4% | ||||||
AMERISAFE, Inc. | 11,369 | 498,303 | ||||
Axis Capital Holdings Ltd. | 20,336 | 1,502,424 | ||||
Baldwin Insurance Group, Inc. - Class A(a) | 46,675 | 1,572,014 | ||||
Fidelis Insurance Holdings Ltd. | 563,045 | 9,335,286 | ||||
First American Financial Corp. | 70,515 | 3,919,224 | ||||
Hagerty, Inc. - Class A(a) | 22,396 | 215,449 | ||||
HCI Group, Inc. | 19,576 | 1,876,947 | ||||
Kemper Corp. | 255,345 | 15,279,845 | ||||
Kinsale Capital Group, Inc. | 2,310 | 886,162 | ||||
Oscar Health, Inc. - Class A(a) | 88,387 | 1,764,204 | ||||
RLI Corp. | 7,669 | 1,119,521 | ||||
Selective Insurance Group, Inc. | 29,145 | 2,844,843 | ||||
Skyward Specialty Insurance Group, Inc.(a) | 37,452 | 1,397,709 | ||||
Stewart Information Services Corp. | 7,551 | 478,054 | ||||
42,689,985 | ||||||
Interactive Media & Services - 1.1% | ||||||
Cars.com, Inc.(a) | 440,321 | 8,907,694 | ||||
EverQuote, Inc. - Class A(a) | 38,242 | 913,601 | ||||
MediaAlpha, Inc. - Class A(a) | 25,706 | 457,053 | ||||
QuinStreet, Inc.(a) | 29,629 | 521,767 | ||||
10,800,115 | ||||||
IT Services - 1.3% | ||||||
ASGN, Inc.(a) | 28,690 | 2,694,278 | ||||
Kyndryl Holdings, Inc.(a) | 217,266 | 5,781,448 | ||||
Unisys Corp.(a) | 244,840 | 1,050,364 | ||||
Wix.com Ltd.(a) | 18,281 | 2,945,069 | ||||
12,471,159 | ||||||
Life Sciences Tools & Services - 0.6% | ||||||
Bio-Techne Corp. | 21,035 | 1,623,692 | ||||
Charles River Laboratories International, Inc.(a) | 8,623 | 1,797,378 | ||||
ICON PLC(a) | 3,126 | 1,015,387 | ||||
Standard BioTools, Inc.(a) | 225,146 | 558,362 | ||||
Stevanato Group SpA | 23,860 | 484,835 | ||||
West Pharmaceutical Services, Inc. | 2,194 | 727,114 | ||||
6,206,768 | ||||||
Machinery - 3.1% | ||||||
Alamo Group, Inc. | 16,075 | 3,054,089 | ||||
Chart Industries, Inc.(a) | 5,994 | 941,238 | ||||
Crane Co. | 18,298 | 2,727,866 | ||||
Enerpac Tool Group Corp. | 9,162 | 360,250 | ||||
Enpro, Inc. | 2,148 | 329,203 | ||||
Esab Corp. | 11,120 | 1,143,358 | ||||
ESCO Technologies, Inc. | 5,594 | 610,473 | ||||
Federal Signal Corp. | 54,337 | 5,000,091 | ||||
Franklin Electric Co., Inc. | 17,860 | 1,776,713 | ||||
Graco, Inc. | 8,593 | 693,885 | ||||
Helios Technologies, Inc. | 15,160 | 759,213 | ||||
Hillman Solutions Corp.(a) | 49,925 | 458,811 | ||||
Kadant, Inc. | 5,148 | 1,472,379 | ||||
Lindsay Corp. | 4,900 | 562,618 | ||||
Markforged Holding Corp.(a) | 163,798 | 68,844 | ||||
Nordson Corp. | 2,754 | 646,419 | ||||
Omega Flex, Inc. | 2,651 | 156,966 | ||||
RBC Bearings, Inc.(a) | 6,362 | 1,878,571 | ||||
SPX Technologies, Inc.(a) | 26,732 | 3,726,975 | ||||
Standex International Corp. | 5,483 | 922,295 | ||||
Stratasys Ltd.(a) | 180,418 | 1,562,420 | ||||
Toro Co. | 12,240 | 981,526 | ||||
29,834,203 | ||||||
Marine Transportation - 0.8% | ||||||
Kirby Corp.(a) | 65,172 | 8,092,407 | ||||
Media - 0.8% | ||||||
Cable One, Inc. | 955 | 368,544 | ||||
Criteo SA - ADR(a) | 151,016 | 5,892,644 | ||||
Nexstar Media Group, Inc. - Class A | 8,613 | 1,427,088 | ||||
TechTarget, Inc.(a) | 8,890 | 268,656 | ||||
7,956,932 | ||||||
Metals & Mining - 1.5% | ||||||
ATI, Inc.(a) | 20,586 | 1,262,745 | ||||
Cleveland-Cliffs, Inc.(a) | 181,270 | 3,132,345 | ||||
ERO Copper Corp.(a) | 246,852 | 5,257,948 | ||||
Materion Corp. | 24,415 | 2,792,588 | ||||
Pan American Silver Corp. | 96,030 | 2,112,660 | ||||
14,558,286 | ||||||
Multi-Utilities - 0.2% | ||||||
Northwestern Energy Group, Inc. | 40,487 | 2,103,705 | ||||
Oil, Gas & Consumable Fuels - 5.4% | ||||||
Antero Resources Corp.(a) | 63,560 | 2,264,643 | ||||
Cameco Corp. | 83,660 | 4,643,967 | ||||
Chord Energy Corp. | 17,755 | 3,291,955 | ||||
Civitas Resources, Inc. | 11,323 | 832,920 | ||||
CNX Resources Corp.(a) | 108,928 | 2,864,806 | ||||
Devon Energy Corp. | 70,821 | 3,475,895 | ||||
Gulfport Energy Corp.(a) | 3,412 | 552,096 | ||||
International Seaways, Inc. | 155,279 | 10,003,073 | ||||
Kosmos Energy Ltd.(a) | 1,334,274 | 8,139,071 | ||||
Matador Resources Co. | 89,306 | 5,666,466 | ||||
Murphy Oil Corp. | 59,550 | 2,548,144 | ||||
Permian Resources Corp. | 263,687 | 4,321,830 | ||||
Sitio Royalties Corp. - Class A | 34,174 | 800,697 | ||||
Texas Pacific Land Corp. | 724 | 444,760 | ||||
Uranium Energy Corp.(a) | 292,094 | 2,085,551 | ||||
Viper Energy, Inc. | 8,796 | 338,294 | ||||
52,274,168 | ||||||
Passenger Airlines - 0.4% | ||||||
Frontier Group Holdings, Inc.(a) | 770,705 | 4,215,756 | ||||
Personal Care Products - 0.8% | ||||||
BellRing Brands, Inc.(a) | 66,919 | 3,892,679 | ||||
Coty, Inc. - Class A(a) | 196,570 | 2,036,465 | ||||
elf Beauty, Inc.(a) | 10,842 | 2,026,478 | ||||
7,955,622 | ||||||
Pharmaceuticals - 0.8% | ||||||
Amneal Pharmaceuticals, Inc.(a) | 184,415 | 1,231,892 | ||||
Amphastar Pharmaceuticals, Inc.(a) | 10,180 | 430,919 | ||||
Innoviva, Inc.(a) | 260,757 | 4,117,353 | ||||
Intra-Cellular Therapies, Inc.(a) | 10,787 | 725,318 | ||||
Structure Therapeutics, Inc. - ADR(a) | 40,074 | 1,370,531 | ||||
7,876,013 | ||||||
Professional Services - 2.2% | ||||||
Alight, Inc. - Class A(a) | 150,128 | 1,163,492 | ||||
CBIZ, Inc.(a) | 6,259 | 474,557 | ||||
Clarivate PLC(a) | 466,839 | 2,660,982 | ||||
Conduent, Inc.(a) | 584,382 | 2,045,337 | ||||
CRA International, Inc. | 3,717 | 654,081 | ||||
Exponent, Inc. | 15,007 | 1,427,466 | ||||
FTI Consulting, Inc.(a) | 3,855 | 828,054 | ||||
KBR, Inc. | 125,026 | 8,209,207 | ||||
Kforce, Inc. | 37,355 | 2,308,913 | ||||
Korn Ferry | 14,794 | 975,516 | ||||
Parsons Corp.(a) | 6,236 | 474,872 | ||||
21,222,477 | ||||||
Real Estate Management & Development - 0.5% | ||||||
Colliers International Group, Inc. | 2,043 | 229,143 | ||||
Cushman & Wakefield PLC(a) | 294,145 | 3,267,951 | ||||
FirstService Corp. | 9,369 | 1,378,367 | ||||
4,875,461 | ||||||
Semiconductors & Semiconductor Equipment - 5.6% | ||||||
Camtek Ltd./Israel | 38,220 | 3,914,110 | ||||
CEVA, Inc.(a) | 32,279 | 642,998 | ||||
Credo Technology Group Holding Ltd.(a) | 71,367 | 1,860,538 | ||||
indie Semiconductor, Inc. - Class A(a) | 120,018 | 800,520 | ||||
Lattice Semiconductor Corp.(a) | 25,743 | 1,911,160 | ||||
MACOM Technology Solutions Holdings, Inc.(a) | 40,192 | 4,065,019 | ||||
MKS Instruments, Inc. | 5,774 | 730,931 | ||||
Onto Innovation, Inc.(a) | 26,624 | 5,769,421 | ||||
Power Integrations, Inc. | 18,543 | 1,409,453 | ||||
Rambus, Inc.(a) | 103,070 | 5,695,648 | ||||
Semtech Corp.(a) | 74,447 | 2,895,244 | ||||
SMART Global Holdings, Inc.(a) | 279,682 | 5,755,856 | ||||
Tower Semiconductor Ltd.(a) | 223,957 | 8,407,346 | ||||
Ultra Clean Holdings, Inc.(a) | 42,525 | 1,972,309 | ||||
Veeco Instruments, Inc.(a) | 181,410 | 7,374,316 | ||||
Wolfspeed, Inc.(a) | 39,810 | 1,023,117 | ||||
54,227,986 | ||||||
Software - 5.8% | ||||||
8x8, Inc.(a) | 2,731,632 | 7,457,355 | ||||
Adeia, Inc. | 151,429 | 1,791,405 | ||||
Appfolio, Inc. - Class A(a) | 7,103 | 1,621,757 | ||||
Aspen Technology, Inc.(a) | 5,091 | 1,072,419 | ||||
Box, Inc. - Class A(a) | 42,430 | 1,156,217 | ||||
Cognyte Software Ltd.(a) | 228,365 | 1,735,574 | ||||
CommVault Systems, Inc.(a) | 9,238 | 993,870 | ||||
Computer Modelling Group Ltd. | 22,766 | 217,643 | ||||
CyberArk Software Ltd.(a) | 10,027 | 2,298,690 | ||||
Elastic NV(a) | 14,956 | 1,556,172 | ||||
Fair Isaac Corp.(a) | 1,518 | 1,958,114 | ||||
Gitlab, Inc. - Class A(a) | 12,034 | 567,884 | ||||
LiveRamp Holdings, Inc.(a) | 149,466 | 4,676,791 | ||||
Manhattan Associates, Inc.(a) | 8,633 | 1,895,289 | ||||
Monday.com Ltd.(a) | 11,059 | 2,498,339 | ||||
Nutanix, Inc. - Class A(a) | 44,129 | 2,440,996 | ||||
OneSpan, Inc.(a) | 74,375 | 979,519 | ||||
Ooma, Inc.(a) | 322,726 | 2,788,353 | ||||
Qualys, Inc.(a) | 11,206 | 1,575,788 | ||||
Radware Ltd.(a) | 49,522 | 1,004,801 | ||||
Silvaco Group, Inc.(a) | 294,402 | 5,378,725 | ||||
SPS Commerce, Inc.(a) | 9,855 | 1,853,627 | ||||
Tyler Technologies, Inc.(a) | 2,175 | 1,044,783 | ||||
Varonis Systems, Inc.(a) | 20,118 | 864,269 | ||||
Verint Systems, Inc.(a) | 151,855 | 4,504,019 | ||||
Vertex, Inc. - Class A(a) | 21,940 | 725,117 | ||||
Xperi, Inc.(a) | 119,842 | 1,055,808 | ||||
55,713,324 | ||||||
Specialty Retail - 2.1% | ||||||
Abercrombie & Fitch Co. - Class A(a) | 4,349 | 751,812 | ||||
Academy Sports & Outdoors, Inc. | 40,130 | 2,315,100 | ||||
American Eagle Outfitters, Inc. | 41,676 | 915,622 | ||||
Asbury Automotive Group, Inc.(a) | 6,968 | 1,637,968 | ||||
Caleres, Inc. | 38,881 | 1,348,393 | ||||
Carvana Co.(a) | 18,463 | 1,845,931 | ||||
Floor & Decor Holdings, Inc. - Class A(a) | 8,832 | 1,032,107 | ||||
ODP Corp.(a) | 40,286 | 1,577,600 | ||||
Signet Jewelers Ltd. | 26,150 | 2,863,163 | ||||
Tractor Supply Co. | 3,177 | 906,366 | ||||
Valvoline, Inc.(a) | 61,397 | 2,492,718 | ||||
Warby Parker, Inc. - Class A(a) | 115,620 | 2,047,630 | ||||
Winmark Corp. | 1,947 | 692,937 | ||||
20,427,347 | ||||||
Technology Hardware, Storage & Peripherals - 0.3% | ||||||
Super Micro Computer, Inc.(a) | 3,610 | 2,832,081 | ||||
Textiles, Apparel & Luxury Goods - 1.6% | ||||||
Gildan Activewear, Inc. | 367,040 | 14,046,621 | ||||
Under Armour, Inc. - Class C(a) | 173,368 | 1,206,641 | ||||
15,253,262 | ||||||
Trading Companies & Distributors - 3.9% | ||||||
AerCap Holdings NV | 58,811 | 5,452,368 | ||||
Air Lease Corp. | 147,201 | 7,012,656 | ||||
Applied Industrial Technologies, Inc. | 8,249 | 1,592,057 | ||||
Beacon Roofing Supply, Inc.(a) | 40,030 | 3,885,312 | ||||
Core & Main, Inc. - Class A(a) | 95,907 | 5,520,407 | ||||
FTAI Aviation Ltd. | 51,688 | 4,358,332 | ||||
GATX Corp. | 17,165 | 2,368,083 | ||||
McGrath RentCorp | 22,025 | 2,400,285 | ||||
Richelieu Hardware Ltd. | 13,405 | 373,329 | ||||
Rush Enterprises, Inc. - Class A | 51,770 | 2,336,380 | ||||
SiteOne Landscape Supply, Inc.(a) | 3,706 | 573,763 | ||||
Transcat, Inc.(a) | 4,353 | 554,572 | ||||
Watsco, Inc. | 2,740 | 1,301,226 | ||||
37,728,770 | ||||||
TOTAL COMMON STOCKS (Cost $837,258,530) | 904,529,828 | |||||
REAL ESTATE INVESTMENT TRUSTS - 3.0% | Shares | Value | ||||
AGNC Investment Corp. | 237,385 | 2,276,522 | ||||
Brixmor Property Group, Inc. | 389,887 | 8,776,356 | ||||
Equity Commonwealth(a) | 498,382 | 9,623,756 | ||||
MFA Financial, Inc. | 167,175 | 1,788,773 | ||||
NNN REIT, Inc. | 70,590 | 2,948,544 | ||||
STAG Industrial, Inc. | 84,425 | 2,959,941 | ||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $28,660,906) | 28,373,892 | |||||
SHORT-TERM INVESTMENTS - 3.4% | ||||||
Money Market Funds - 3.4% | Shares | |||||
First American Government Obligations Fund - Class X, 5.24%(c) | 32,834,247 | 32,834,247 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $32,834,247) | 32,834,247 | |||||
TOTAL INVESTMENTS - 99.9% (Cost $898,753,683) | $ | 965,737,967 | ||||
Other Assets in Excess of Liabilities - 0.1% | 1,356,731 | |||||
TOTAL NET ASSETS - 100.0% | $ | 967,094,698 |
Percentages are stated as a percent of net assets. | |
The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |
ADR - American Depositary Receipt |
NV - Naamloze Vennootschap |
PLC - Public Limited Company |
SA - Sociedad Anónima |
(a) | Non-income producing security. |
(b) | Represents less than 0.05% of net assets. |
(c) | The rate shown represents the 7-day effective yield as of May 31, 2024. |
Notes to Schedule of Investments
May 31, 2024 (Unaudited)
Investment Valuation
Each equity security owned by a Fund, including depositary receipts, that is listed on a national securities exchange, except for portfolio securities listed on the NASDAQ Stock Market, LLC (“NASDAQ”) is valued at its last sale price or official closing price on that exchange on the close of that exchange on the date as of which assets are valued. If a security is listed on more than one exchange, the Funds will use the price on the exchange that the Funds generally consider to be the principal exchange on which the security is traded.
Portfolio securities listed on NASDAQ will be valued at the NASDAQ Official Closing Price (“NOCP”), which may not necessarily represent the last sale price. If there has been no sale on such exchange or on NASDAQ on such day, the security is valued at the most recent quoted bid at the close of the exchange on such day or the security shall be valued at the latest sales price on the “composite market” for the day such security is being valued. The composite market is defined as a consolidation of the trade information provided by national securities and foreign exchanges and over-the-counter markets as published by an approved independent pricing service (a “Pricing Service”).
Debt securities, including short-term debt instruments having a maturity of 60 days or less, are valued at prices supplied by an approved Pricing Service. Where the price of a long-term debt security is not available from a Pricing Service, the most recent quotation from one or more broker-dealers known to follow the issue will be obtained. Quotations will be valued at the bid price. When a Fund buys a when-issued, new issue or delayed delivery debt security and the security is not yet being traded or 97 Column Funds Notes to Financial Statements February 29, 2024 (Unaudited) priced by a Pricing Service, the security will be valued at cost. Thereafter, the security will be valued at its market value or its fair value if the security has not commenced trading or is not priced by a Pricing Service for longer than five days. Any discount or premium is accreted or amortized using the constant yield method until maturity.
Forward currency contracts are valued at the mean between the bid and asked prices.
Redeemable securities issued by open-end, registered investment companies, including money market funds, are valued at the net asset values (“NAVs”) of such companies for purchase and/or redemption orders placed on that day. All ETFs are valued at the last reported sale price on the exchange on which the security is principally traded.
Foreign securities will be priced in their local currencies as of the close of their primary exchange or market or as of the time a Fund calculates its NAV, whichever is earlier. Foreign securities, currencies and other assets denominated in foreign currencies are then translated into U.S. dollars at the exchange rate of such currencies against the U.S. dollar, as provided by an approved pricing service or reporting agency. All assets denominated in foreign currencies will be converted into U.S. dollars using the applicable currency exchange rates as of the close of the NYSE, generally 4:00 p.m. Eastern Time. Occasionally, events which affect the values of such securities may occur between the times at which the values are determined and the close of the New York Stock Exchange and will therefore not be reflected in the computation of the Fund’s net asset value. If events materially affecting the value of such securities occur during such period, then these securities will be valued at fair value in good faith as determined by the Adviser in accordance with its fair valuation procedures. If on any business day a change in the value of the equity markets exceeds a certain threshold as determined by reference to a broad-based index, then each foreign equity security held by a Fund (other than those traded in countries outside of Canada, Mexico, Central and South America) will be valued at its fair value by using a value determined by an independent pricing agent rather than using the last closing price of such foreign security on its principal overseas market. A value determined by an independent pricing agent will also be used to fair value foreign securities held by a Fund on any day when a foreign market is closed due to a local holiday or other scheduled closure, but the New York Stock Exchange is open.
If market quotations are not readily available, a security or other asset will be valued at its fair value in accordance with Rule 2a-5 of the 1940 Act as determined under the Adviser’s fair value pricing procedures, subject to oversight by the Trust’s Board of Trustees. These fair value pricing procedures will also be used to price a security when corporate events, events in the securities market and/or world events cause the Adviser to believe that a security’s last sale price may not reflect its actual fair value. The intended effect of using fair value pricing procedures is to ensure that the Fund is accurately priced. The Adviser will regularly evaluate whether the Fund’s fair value pricing procedures continue to be appropriate in light of the specific circumstances of the Fund and the quality of prices obtained through the application of such procedures.
FASB Accounting Standards Codification, “Fair Value Measurement” Topic 820 (“ASC 820”), establishes an authoritative definition of fair value and sets out a hierarchy measuring fair value. ASC 820 requires an entity to evaluate certain factors to determine whether there has been a significant decrease in volume and level of activity for the security such that recent transactions and quoted prices may not be determinative of fair value and further analysis and adjustment may be necessary to estimate fair value. ASC 820 also requires enhanced disclosures regarding the inputs and valuation techniques used to measure fair value in those instances as well as expanded disclosure of valuation levels for each class of investments. These inputs are summarized in the three broad levels listed below:
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value each Fund’s investments carried at fair value as of May 31, 2024:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments: | ||||||||||||||||
Common Stocks | 904,156,499 | 373,329 | – | 904,529,828 | ||||||||||||
Real Estate Investment Trusts | 28,373,892 | – | – | 28,373,892 | ||||||||||||
Money Market Funds | 32,834,247 | – | – | 32,834,247 | ||||||||||||
Total Investments | 965,364,638 | 373,329 | – | 965,737,967 | ||||||||||||
Refer to the Schedule of Investments for additional information. | ||||||||||||||||