Schedule of investments
Optimum International Fund
December 31, 2022 (Unaudited)
Number of shares | Value (US $) | ||
Common Stocks – 98.38%Δ | |||
Australia − 5.94% | |||
Allkem † | 51,597 | $ 394,859 | |
ANZ Group Holdings | 162,809 | 2,622,676 | |
Base Resources | 470,327 | 72,050 | |
BHP Group | 72,746 | 2,260,013 | |
BlueScope Steel | 312,155 | 3,579,017 | |
Cochlear | 14,307 | 1,988,317 | |
Computershare | 71,136 | 1,268,943 | |
CSR | 23,001 | 73,760 | |
EBOS Group | 47 | 1,310 | |
Enero Group | 23,974 | 46,030 | |
Glencore | 11,653 | 77,822 | |
Iluka Resources | 40,247 | 261,143 | |
Incitec Pivot | 415,878 | 1,064,646 | |
Mineral Resources | 10,054 | 528,455 | |
New Hope | 130,039 | 563,096 | |
Nufarm | 262,892 | 1,097,209 | |
OceanaGold † | 73,800 | 140,623 | |
Orora | 42,589 | 83,800 | |
Pilbara Minerals † | 576,919 | 1,472,982 | |
Rio Tinto | 100,102 | 7,016,642 | |
South32 | 1,399,495 | 3,811,385 | |
Sunland Group | 15,703 | 18,870 | |
Wagners Holding † | 20,675 | 11,120 | |
Whitehaven Coal | 801,785 | 5,142,334 | |
33,597,102 | |||
Austria − 0.54% | |||
ANDRITZ | �� 12,717 | 728,972 | |
AT&S Austria Technologie & Systemtechnik | 505 | 17,271 | |
OMV | 42,326 | 2,179,308 | |
Raiffeisen Bank International † | 5,440 | 89,387 | |
Zumtobel Group | 4,204 | 30,646 | |
3,045,584 | |||
Belgium − 0.17% | |||
Ascencio | 175 | 9,835 | |
Solvay SA | 9,531 | 963,724 | |
973,559 | |||
Brazil − 2.58% | |||
Gerdau ADR | 585,632 | 3,244,401 | |
MercadoLibre † | 12,140 | 10,273,354 | |
Mills Estruturas e Servicos de Engenharia SA | 20,600 | 44,596 | |
Unipar Carbocloro | 4,074 | 63,243 | |
Yara International | 21,615 | 950,047 | |
14,575,641 | |||
Canada − 3.90% | |||
AbCellera Biologics † | 119,399 | 1,209,512 | |
Advantage Energy † | 41,200 | 288,157 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Canada (continued) | |||
Air Canada † | 15,400 | $ 220,536 | |
Atco Class I | 22,233 | 695,890 | |
Bird Construction | 33,900 | 203,300 | |
Calfrac Well Services † | 8,609 | 38,785 | |
Canfor † | 12,800 | 201,453 | |
Celestica † | 54,897 | 618,706 | |
CES Energy Solutions | 22,773 | 46,421 | |
Constellation Software | 2,614 | 4,081,161 | |
Crescent Point Energy | 38,400 | 273,962 | |
Crew Energy † | 70,025 | 291,167 | |
DRI Healthcare Trust | 5,500 | 32,049 | |
Enerplus | 23,600 | 416,573 | |
Fairfax Financial Holdings | 300 | 177,711 | |
Finning International | 46,000 | 1,143,545 | |
Growth International | 1,000 | 32,016 | |
Hammond Power Solutions | 1,900 | 28,233 | |
iA Financial | 8,700 | 509,342 | |
Linamar | 1,900 | 86,019 | |
Major Drilling Group International † | 5,600 | 43,510 | |
Manulife Financial | 4,800 | 85,613 | |
Martinrea International | 25,979 | 216,044 | |
Methanex | 39,200 | 1,484,041 | |
Mullen Group | 7,400 | 79,520 | |
Neo Performance Materials | 5,777 | 40,959 | |
NuVista Energy † | 59,543 | 548,816 | |
Pason Systems | 4,100 | 48,267 | |
Pet Valu Holdings | 9,526 | 275,297 | |
PHX Energy Services | 10,600 | 60,829 | |
Pizza Pizza Royalty | 15,000 | 151,108 | |
Power | 80,300 | 1,888,888 | |
Ritchie Bros Auctioneers | 33,873 | 1,958,876 | |
Shawcor † | 2,809 | 28,505 | |
Shopify Class A † | 62,269 | 2,161,357 | |
Stella-Jones | 11,100 | 397,764 | |
Supremex | 1,400 | 5,997 | |
TMX Group | 14,528 | 1,454,088 | |
Torex Gold Resources † | 4,200 | 48,235 | |
Total Energy Services | 7,700 | 48,964 | |
Uni-Select † | 4,000 | 126,558 | |
Wajax | 1,700 | 24,772 | |
Western Forest Products | 65,984 | 56,530 | |
Winpak | 7,108 | 220,799 | |
22,049,875 | |||
China − 0.32% | |||
China Coal Energy Class H | 172,000 | 139,928 | |
China Pacific Insurance Group Class H | 189,200 | 421,282 |
NQ-OPTIE [12/22] 2/23 (2747703) 1
Schedule of investments
Optimum International Fund (Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
China (continued) | |||
Chongqing Rural Commercial Bank Class H | 75,000 | $ 25,655 | |
Natural Food International Holding † | 344,000 | 20,934 | |
PICC Property & Casualty Class H | 1,234,000 | 1,171,482 | |
1,779,281 | |||
China/Hong Kong − 11.85% | |||
37 Interactive Entertainment Network Technology Group Class A | 1,106,600 | 2,881,232 | |
AIA Group | 1,054,200 | 11,723,163 | |
Alibaba Group Holding † | 246,600 | 2,724,923 | |
Asia Cement China Holdings | 215,398 | 101,553 | |
Build King Holdings | 73,424 | 7,902 | |
China BlueChemical Class H | 500,000 | 118,507 | |
China Construction Bank Class H | 9,884,000 | 6,192,181 | |
China Design Group Class A | 21,600 | 23,552 | |
China Display Optoelectronics Technology Holdings † | 311,330 | 20,741 | |
Chinese Universe Publishing and Media Group Class A | 575,900 | 792,808 | |
Consun Pharmaceutical Group | 44,000 | 22,830 | |
Dah Sing Financial Holdings | 30,000 | 69,490 | |
Daqin Railway Class A | 1,438,100 | 1,381,893 | |
Dare Power Dekor Home Class A | 90,000 | 110,304 | |
Fufeng Group | 160,000 | 97,368 | |
Futu Holdings ADR † | 24,117 | 980,356 | |
G-bits Network Technology Xiamen Class A | 26,800 | 1,206,052 | |
Guangdong Zhongnan Iron & Steel Class A | 232,100 | 95,154 | |
Hong Kong Exchanges & Clearing | 99,900 | 4,315,738 | |
Huayu Automotive Systems Class A | 432,400 | 1,077,937 | |
Industrial & Commercial Bank of China Class H | 6,401,000 | 3,296,674 | |
Inner Mongolia Yitai Coal Class H | 15,000 | 19,333 | |
Jiutian Chemical Group | 1,258,400 | 76,102 | |
Johnson Electric Holdings | 38,000 | 47,856 | |
Lansen Pharmaceutical Holdings † | 24,176 | 4,708 | |
Lenovo Group | 378,000 | 310,422 | |
Meituan Class B † | 179,800 | 4,024,247 | |
Orient Overseas International | 106,491 | 1,923,686 | |
Pacific Basin Shipping | 164,930 | 55,783 | |
PAX Global Technology | 104,968 | 90,774 | |
PetroChina Class H | 1,724,000 | 788,511 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
China/Hong Kong (continued) | |||
Ping An Insurance Group Co. of China Class H | 1,117,500 | $ 7,394,689 | |
Prosus | 39,051 | 2,694,148 | |
Sinopec Engineering Group Class H | 34,001 | 14,941 | |
Suzhou Gold Mantis Construction Decoration Class A † | 838,900 | 585,276 | |
Ten Pao Group Holdings | 30,123 | 5,287 | |
Tencent Holdings | 111,900 | 4,788,270 | |
Tencent Music Entertainment Group ADR † | 420,401 | 3,480,920 | |
Texhong Textile Group | 52,524 | 42,057 | |
Tian Di Science & Technology Class A | 1,574,000 | 1,177,381 | |
United Laboratories International Holdings | 222,000 | 139,364 | |
Wuxi Biologics Cayman † | 163,500 | 1,253,672 | |
Yue Yuen Industrial Holdings | 21,000 | 29,487 | |
Zhejiang Semir Garment Class A | 1,163,378 | 876,922 | |
67,064,194 | |||
Denmark − 5.25% | |||
Ambu Class B † | 101,602 | 1,301,690 | |
AP Moller - Maersk Class B | 1,953 | 4,391,354 | |
Chr Hansen Holding | 46,637 | 3,354,711 | |
DSV | 31,647 | 4,995,240 | |
Genmab † | 9,656 | 4,087,968 | |
Novo Nordisk Class B | 53,036 | 7,161,250 | |
Novozymes Class B | 80,664 | 4,086,149 | |
Pandora | 4,192 | 294,541 | |
29,672,903 | |||
Egypt − 0.00% | |||
ElSewedy Electric † | 13,000 | 6,302 | |
6,302 | |||
Finland − 0.81% | |||
Kone Class B | 86,014 | 4,447,159 | |
Orion Class A | 1,418 | 77,565 | |
QT Group † | 2 | 95 | |
Vaisala Class A | 805 | 33,994 | |
4,558,813 | |||
France − 5.96% | |||
ABC arbitrage | 4,110 | 28,377 | |
Alten | 1,283 | 160,412 | |
Aubay | 452 | 23,587 | |
Danone | 91,560 | 4,825,052 | |
Dassault Aviation | 4,595 | 778,141 | |
Dassault Systemes | 132,084 | 4,735,835 | |
Edenred | 105,360 | 5,738,379 | |
Engie SA | 14,527 | 208,189 |
2 NQ-OPTIE [12/22] 2/23 (2747703)
(Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
France (continued) | |||
Hermes International | 1,975 | $ 3,054,931 | |
Imerys SA | 1,594 | 62,007 | |
Ipsen | 7,085 | 762,206 | |
IPSOS | 19,649 | 1,230,447 | |
Kering | 5,960 | 3,033,634 | |
La Francaise des Jeux SAEM | 5,416 | 217,872 | |
Nexans | 21,206 | 1,917,012 | |
Rexel | 46,259 | 913,111 | |
Sartorius Stedim Biotech | 13,926 | 4,509,394 | |
Technip Energies | 6,718 | 105,496 | |
Thales | 11,153 | 1,424,290 | |
33,728,372 | |||
Germany − 7.64% | |||
Atoss Software | 919 | 136,937 | |
Bayer | 41,344 | 2,138,704 | |
BioNTech ADR | 22,888 | 3,438,235 | |
Carl Zeiss Meditec | 12,154 | 1,533,908 | |
Deutsche Bank | 65,048 | 737,249 | |
Deutsche Boerse | 56,819 | 9,816,655 | |
Deutsche Lufthansa † | 271,507 | 2,256,778 | |
Merck | 25,990 | 5,032,818 | |
Rational | 7,608 | 4,519,911 | |
SAP | 68,903 | 7,109,458 | |
Scout24 | 110,455 | 5,548,842 | |
Wacker Chemie | 7,450 | 952,197 | |
Westwing Group † | 2 | 21 | |
43,221,713 | |||
Greece − 0.06% | |||
National Bank of Greece † | 69,547 | 278,951 | |
Thrace Plastics Holding and Co. | 12,866 | 54,539 | |
333,490 | |||
Hong Kong − 0.00% | |||
Perennial Energy Holdings | 226,875 | 20,637 | |
20,637 | |||
Hungary − 0.38% | |||
MOL Hungarian Oil & Gas | 157,107 | 1,095,966 | |
OTP Bank | 38,678 | 1,048,357 | |
2,144,323 | |||
India − 3.20% | |||
AurionPro Solutions | 13,221 | 54,886 | |
CESC | 280,118 | 258,685 | |
Coal India | 60,078 | 163,430 | |
Deccan Cements | 4,624 | 27,681 | |
Dhampur Bio Organics † | 47,510 | 116,291 | |
Dwarikesh Sugar Industries | 162,577 | 206,636 | |
EID Parry India | 25,171 | 172,984 | |
GAIL India | 1,396,443 | 1,621,278 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
India (continued) | |||
Gujarat Industries Power | 34,719 | $ 34,602 | |
Housing Development Finance | 260,076 | 8,291,750 | |
ICICI Lombard General Insurance | 187,673 | 2,805,681 | |
ITC | 884,311 | 3,543,978 | |
ITD Cementation India | 71,924 | 103,543 | |
Kirloskar Industries | 1,576 | 36,727 | |
Mazagon Dock Shipbuilders | 38,315 | 367,334 | |
Ram Ratna Wires | 14,990 | 30,205 | |
Rupa & Co. | 325 | 1,105 | |
Savita Oil Technologies | 24,350 | 88,564 | |
Techno Electric & Engineering | 5,276 | 21,042 | |
Triveni Turbine | 22,086 | 69,478 | |
VST Industries | 973 | 38,901 | |
Wonderla Holidays † | 13,722 | 56,684 | |
Yasho Industries | 10 | 192 | |
18,111,657 | |||
Indonesia − 1.17% | |||
ABM Investama | 525,200 | 110,657 | |
Adaro Energy Indonesia | 9,630,698 | 2,381,769 | |
Akasha Wira International † | 37,900 | 17,468 | |
Bank OCBC Nisp | 430,693 | 20,611 | |
Blue Bird | 479,300 | 43,412 | |
Bukit Asam | 2,408,900 | 570,987 | |
Bumitama Agri | 133,900 | 58,983 | |
Golden Agri-Resources | 174,300 | 32,533 | |
Indo Tambangraya Megah | 77,319 | 193,825 | |
Indo-Rama Synthetics | 40,800 | 14,808 | |
Jaya Konstruksi Manggala Pratama † | 13,589,400 | 103,879 | |
Media Nusantara Citra † | 3,028,300 | 143,950 | |
Panin Financial | 10,077,600 | 231,751 | |
Perusahaan Gas Negara | 11,015,920 | 1,245,417 | |
Samudera Indonesia | 8,496 | 1,053 | |
United Tractors | 851,800 | 1,426,734 | |
6,597,837 | |||
Iraq − 0.00% | |||
Gulf Keystone Petroleum | 9,433 | 22,922 | |
22,922 | |||
Ireland − 3.20% | |||
CRH | 116,382 | 4,610,747 | |
CRH (London Stock Exchange) | 43,984 | 1,754,225 | |
Kingspan Group | 90,562 | 4,903,331 | |
Ryanair Holdings ADR † | 91,626 | 6,849,960 | |
18,118,263 | |||
Israel − 1.53% | |||
Bank Leumi Le-Israel | 435,007 | 3,627,224 | |
Check Point Software Technologies † | 35,989 | 4,540,372 |
NQ-OPTIE [12/22] 2/23 (2747703) 3
Schedule of investments
Optimum International Fund (Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Israel (continued) | |||
FIBI Holdings | 4,934 | $ 205,777 | |
Isracard | 1,860 | 5,408 | |
Israel | 731 | 257,870 | |
Ituran Location and Control | 1,671 | 35,308 | |
8,671,959 | |||
Italy − 1.05% | |||
Banca IFIS | 17,439 | 248,466 | |
FinecoBank Banca Fineco | 308,385 | 5,123,318 | |
Prysmian | 8,598 | 319,001 | |
Recordati Industria Chimica e Farmaceutica | 5,628 | 233,449 | |
5,924,234 | |||
Japan − 11.34% | |||
A&A Material | 1,800 | 12,097 | |
A&D HOLON Holdings | 4,800 | 37,196 | |
Achilles | 3,900 | 36,908 | |
ADEKA | 5,100 | 84,093 | |
Advanced Media † | 6,500 | 59,978 | |
AGS | 3,000 | 15,773 | |
Aidma Holdings † | 2,800 | 85,553 | |
Akatsuki | 2,700 | 45,507 | |
Alfresa Holdings | 11,500 | 146,861 | |
Alps Alpine | 63,800 | 581,900 | |
Alps Logistics | 3,100 | 27,046 | |
Amiyaki Tei | 1,200 | 26,498 | |
Anest Iwata | 7,200 | 47,290 | |
Anritsu | 6,600 | 64,471 | |
Arisawa Manufacturing | 11,000 | 108,877 | |
Asia Pile Holdings | 7,200 | 29,735 | |
ASKUL | 3,500 | 45,577 | |
Avant | 2,000 | 20,756 | |
Base | 1,000 | 26,593 | |
BIPROGY | 3,800 | 96,853 | |
BML | 10,600 | 270,977 | |
Brother Industries | 30,200 | 461,836 | |
BuySell Technologies | 600 | 24,505 | |
Chiba Kogyo Bank | 10,300 | 35,709 | |
CKD | 4,500 | 64,428 | |
COLOPL | 5,200 | 24,883 | |
Computer Engineering & Consulting | 5,700 | 66,364 | |
Cosel | 6,400 | 49,448 | |
CTI Engineering | 2,000 | 48,918 | |
Dai Nippon Toryo | 4,200 | 24,034 | |
Daihatsu Diesel Manufacturing | 6,500 | 25,259 | |
Dai-ichi Life Holdings | 72,700 | 1,658,517 | |
Daiken | 4,200 | 66,981 | |
Daitron | 2,300 | 39,992 | |
Daiwa Industries | 4,700 | 40,360 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Japan (continued) | |||
Denso | 89,400 | $ 4,452,289 | |
Digital Arts | 1,000 | 42,441 | |
Doshisha | 6,100 | 75,437 | |
Eizo | 13,400 | 349,703 | |
Elecom | 27,700 | 284,936 | |
Elematec | 9,800 | 115,443 | |
en Japan | 24,100 | 445,127 | |
Enigmo | 5,800 | 28,196 | |
Enplas | 5,300 | 155,882 | |
Fabrica Communications | 2,500 | 75,053 | |
FANUC | 29,600 | 4,473,606 | |
FCC | 2,900 | 29,853 | |
Fudo Tetra | 3,700 | 42,204 | |
Fuji | 4,300 | 63,235 | |
Fujitsu | 4,300 | 577,145 | |
Furyu | �� 5,600 | 46,468 | |
Fuso Pharmaceutical Industries | 600 | 9,134 | |
Gakujo | 2,600 | 27,399 | |
Giken | 1,700 | 37,578 | |
H.U. Group Holdings | 7,600 | 166,836 | |
Hamakyorex | 1,400 | 33,549 | |
Heiwa | 4,600 | 87,100 | |
Hisamitsu Pharmaceutical | 1,700 | 50,842 | |
Hito Communications Holdings | 2,900 | 33,565 | |
Horiba | 5,100 | 222,668 | |
Hosokawa Micron | 1,900 | 38,843 | |
Ichiken | 3,100 | 42,163 | |
Ichikoh Industries | 9,200 | 25,447 | |
Ichiyoshi Securities | 2,800 | 13,142 | |
ID Holdings | 3,000 | 21,464 | |
Ines | 3,900 | 40,623 | |
I-Net | 2,300 | 22,748 | |
Infocom | 7,000 | 114,835 | |
Insource | 17,000 | 201,425 | |
I-PEX | 9,200 | 83,490 | |
IR Japan Holdings | 14,400 | 198,269 | |
ISB | 3,100 | 26,621 | |
Ishihara Sangyo Kaisha | 10,800 | 87,476 | |
Itfor | 8,900 | 56,761 | |
IwaiCosmo Holdings | 3,800 | 37,583 | |
Izumi | 2,100 | 47,812 | |
JAC Recruitment | 8,500 | 157,319 | |
Japan Exchange Group | 214,500 | 3,101,293 | |
Japan Lifeline | 5,900 | 41,180 | |
Japan Post Insurance | 73,900 | 1,306,933 | |
Japan System Techniques | 9,800 | 127,316 | |
JCU | 2,200 | 51,631 | |
Jeol | 16,900 | 462,290 | |
JP-Holdings | 14,500 | 32,924 | |
Kanamoto | 9,800 | 168,984 |
4 NQ-OPTIE [12/22] 2/23 (2747703)
(Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Japan (continued) | |||
Kanematsu Electronics | 5,700 | $ 193,272 | |
Kenko Mayonnaise | 3,000 | 31,385 | |
Keyence | 8,200 | 3,212,771 | |
Kokuyo | 7,400 | 104,764 | |
Konoike Transport | 5,800 | 71,064 | |
Kyokuto Securities | 8,400 | 36,803 | |
Lifedrink | 2,400 | 47,967 | |
Marvelous | 9,000 | 46,906 | |
Meidensha | 2,800 | 39,918 | |
Meiko Network Japan | 11,000 | 52,217 | |
Meisei Industrial | 4,800 | 28,674 | |
Meitec | 2,700 | 49,293 | |
Melco Holdings | 3,200 | 74,002 | |
MIMAKI ENGINEERING | 3,900 | 17,800 | |
Mimasu Semiconductor Industry | 1,800 | 32,108 | |
Miroku Jyoho Service | 14,900 | 163,827 | |
Mitsuba | 8,000 | 28,772 | |
Mitsubishi Electric | 117,900 | 1,179,988 | |
Mitsubishi Research Institute | 6,400 | 237,976 | |
Mixi | 19,200 | 360,768 | |
Mizuho Medy | 1,600 | 45,718 | |
MonotaRO | 248,800 | 3,520,433 | |
MORESCO | 2,700 | 24,029 | |
Morito | 4,900 | 27,591 | |
MS&AD Insurance Group Holdings | 22,000 | 708,077 | |
Naigai Trans Line | 1,600 | 25,724 | |
Nidec | 51,000 | 2,657,643 | |
Nihon Kohden | 3,000 | 73,263 | |
Nihon M&A Center Holdings | 4,800 | 59,579 | |
Nihon Parkerizing | 6,200 | 44,313 | |
Nintendo | 75,500 | 3,182,460 | |
Nippon Chemical Industrial | 3,300 | 43,852 | |
Nippon Kayaku | 4,300 | 37,351 | |
Nisshinbo Holdings | 61,600 | 457,166 | |
Nisso | 5,800 | 25,500 | |
Nitto Kohki | 2,100 | 23,906 | |
Nitto Seiko | 6,700 | 25,168 | |
NS Solutions | 2,000 | 48,766 | |
OBIC Business Consultants | 600 | 19,636 | |
Ohara | 2,800 | 22,594 | |
Okabe | 5,100 | 27,008 | |
Okamura | 2,700 | 29,275 | |
Okinawa Cellular Telephone | 1,300 | 28,785 | |
OptorunCo. Ltd. | 2,500 | 42,708 | |
Oracle | 1,000 | 64,919 | |
Osaka Organic Chemical Industry | 2,500 | 36,365 | |
Osaki Electric | 19,600 | 78,406 | |
Otsuka Holdings | 5,900 | 193,535 | |
PC Depot | 16,500 | 34,197 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Japan (continued) | |||
Prestige International | 6,900 | $ 38,170 | |
Pronexus | 2,600 | 19,019 | |
QB Net Holdings | 2,500 | 25,602 | |
Recruit Holdings | 23,400 | 744,756 | |
Riken | 1,500 | 25,659 | |
Riso Kagaku | 1,600 | 25,468 | |
Round One | 125,000 | 457,178 | |
Sakai Chemical Industry | 2,200 | 29,872 | |
Sangetsu | 11,200 | 183,310 | |
Sankyu | 1,500 | 55,204 | |
Sanshin Electronics | 1,600 | 29,235 | |
Sanyo Shokai † | 3,600 | 38,293 | |
SCREEN Holdings | 3,800 | 244,956 | |
Seiko Epson | 900 | 13,208 | |
Sekisui Kasei | 7,100 | 20,991 | |
Seria | 1,600 | 34,977 | |
Shibaura Machine | 4,500 | 89,835 | |
Shibaura Mechatronics | 1,800 | 137,016 | |
Shibusawa Warehouse | 1,600 | 25,346 | |
Shibuya | 1,400 | 24,525 | |
Shimano | 22,300 | 3,554,678 | |
Shindengen Electric Manufacturing | 1,400 | 31,949 | |
Shinnihon | 4,000 | 22,706 | |
Shiseido | 101,800 | 5,019,413 | |
Shofu | 1,500 | 26,048 | |
SIGMAXYZ Holdings | 1,400 | 13,793 | |
SMC | 8,700 | 3,684,441 | |
SMK | 1,300 | 22,892 | |
SMS | 4,400 | 112,481 | |
Soda Nikka | 4,600 | 25,061 | |
Sodick | 12,100 | 65,368 | |
Soliton Systems KK | 16,300 | 131,652 | |
Sony Group | 71,500 | 5,467,102 | |
Space | 2,900 | 19,379 | |
SRA Holdings | 3,400 | 78,497 | |
Star Micronics | 10,200 | 125,829 | |
Step | 1,800 | 24,660 | |
Sumitomo Mitsui Construction | 17,700 | 56,240 | |
Sumitomo Seika Chemicals | 1,100 | 34,155 | |
Sun-Wa Technos | 2,700 | 32,855 | |
Suzuken | 8,800 | 239,378 | |
Syuppin | 2,700 | 25,531 | |
Takaoka Toko | 1,800 | 24,537 | |
Takara Standard | 8,200 | 86,411 | |
Take And Give Needs † | 5,400 | 59,003 | |
Teikoku Electric Manufacturing | 1,500 | 26,253 | |
T-Gaia | 30,550 | 379,431 | |
TOA ROAD | 600 | 26,516 | |
Tochigi Bank | 15,400 | 36,611 |
NQ-OPTIE [12/22] 2/23 (2747703) 5
Schedule of investments
Optimum International Fund (Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Japan (continued) | |||
Tokuyama | 8,700 | $ 119,058 | |
Tokyo Seimitsu | 3,300 | 107,368 | |
Tomy | 5,300 | 51,045 | |
Topcon | 18,500 | 215,815 | |
Toyo Engineering † | 6,200 | 26,550 | |
Transcosmos | 6,300 | 156,252 | |
Tri Chemical Laboratories | 2,100 | 31,810 | |
Trusco Nakayama | 7,600 | 117,845 | |
Tsubakimoto Chain | 4,600 | 104,520 | |
TV Asahi Holdings | 7,100 | 72,493 | |
USS | 5,800 | 92,586 | |
UT Group | 3,000 | 51,661 | |
V Technology | 1,400 | 26,861 | |
ValueCommerce | 3,000 | 41,466 | |
Vector | 15,100 | 153,945 | |
VINX | 2,800 | 31,640 | |
Visional † | 1,200 | 79,732 | |
Warabeya Nichiyo Holdings | 7,600 | 106,785 | |
Wowow | 2,000 | 19,369 | |
Yachiyo Industry | 5,500 | 58,629 | |
YAMADA Consulting Group | 1,600 | 14,240 | |
Yamaichi Electronics | 4,000 | 51,996 | |
Yushin Precision Equipment | 6,700 | 34,000 | |
Zenrin | 8,800 | 55,453 | |
ZIGExN | 18,200 | 52,004 | |
64,142,889 | |||
Malaysia − 0.08% | |||
Hap Seng Plantations Holdings | 6,900 | 3,039 | |
Hong Leong Financial Group | 60,700 | 256,304 | |
Lingkaran Trans Kota Holdings | 42,600 | 4,932 | |
Magni-Tech Industries | 35,100 | 14,662 | |
Sarawak Oil Palms | 66,900 | 39,487 | |
Ta Ann Holdings | 130,900 | 112,327 | |
United Plantations | 6,700 | 23,271 | |
454,022 | |||
Mexico − 0.25% | |||
Alpek | 385,677 | 564,072 | |
Ternium ADR | 28,157 | 860,478 | |
1,424,550 | |||
Netherlands − 5.01% | |||
Adyen † | 2,679 | 3,694,790 | |
ASML Holding | 10,907 | 5,882,066 | |
Brunel International | 4,916 | 50,413 | |
EXOR † | 41,663 | 3,046,054 | |
IMCD | 48,327 | 6,888,068 | |
NN Group | 1,809 | 73,895 | |
OCI | 23,864 | 853,721 | |
TKH Group CVA | 1,206 | 47,972 | |
Topicus.com † | 52,262 | 2,743,948 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Netherlands (continued) | |||
Van Lanschot Kempen CVA | 1,316 | $ 30,851 | |
Wolters Kluwer | 48,269 | 5,051,215 | |
28,362,993 | |||
New Zealand − 0.02% | |||
Mainfreight | 1,444 | 61,884 | |
Oceania Healthcare | 56,627 | 27,324 | |
89,208 | |||
Norway − 1.50% | |||
Aker Carbon Capture † | 1,586,266 | 1,871,758 | |
Equinor | 139,264 | 5,000,926 | |
Hunter Group | 64,299 | 15,620 | |
Kongsberg Gruppen | 3,616 | 153,398 | |
Norsk Hydro | 187,980 | 1,406,857 | |
Western Bulk Chartering | 8,266 | 31,050 | |
8,479,609 | |||
Panama − 0.54% | |||
Copa Holdings Class A † | 36,992 | 3,076,625 | |
3,076,625 | |||
Philippines − 0.02% | |||
Ginebra San Miguel | 33,690 | 63,528 | |
LT Group | 368,500 | 60,895 | |
124,423 | |||
Poland − 0.45% | |||
Asseco Poland | 1,852 | 30,688 | |
Bank Handlowy w Warszawie | 3,186 | 54,974 | |
Bank Millennium † | 1,256 | 1,313 | |
Grupa Azoty † | 26,566 | 239,384 | |
PGE Polska Grupa Energetyczna † | 94,135 | 147,906 | |
Powszechny Zaklad Ubezpieczen | 255,228 | 2,063,331 | |
Unimot SA † | 285 | 5,822 | |
2,543,418 | |||
Portugal − 0.01% | |||
Altri | 4,744 | 25,416 | |
Sonae SGPS SA | 13,626 | 13,638 | |
39,054 | |||
Republic of Korea − 2.58% | |||
BNK Financial Group | 55,107 | 283,894 | |
Coupang † | 176,385 | 2,594,623 | |
Crown Confectionery | 1,504 | 10,124 | |
e-Credible | 971 | 12,334 | |
Eugene Technology | 7,171 | 126,461 | |
Hana Financial Group | 9,782 | 325,732 | |
Handsome | 3,352 | 71,951 | |
Hyundai Marine & Fire Insurance | 1,102 | 25,674 | |
JB Financial Group | 46,074 | 287,867 | |
Keyang Electric Machinery | 9,000 | 22,663 |
6 NQ-OPTIE [12/22] 2/23 (2747703)
(Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Republic of Korea (continued) | |||
KT † | 144,489 | $ 3,867,290 | |
Sambo Corrugated Board † | 3,798 | 30,826 | |
Samsung Electronics | 155,928 | 6,844,186 | |
Sangsangin | 14,436 | 70,192 | |
SeAH Holdings | 284 | 24,309 | |
SGC e Tec E&C | 691 | 15,622 | |
14,613,748 | |||
Russia − 0.00% | |||
Magnit = | 32,259 | 0 | |
Magnit PJSC GDR = | 1 | 0 | |
MMC Norilsk Nickel PJSC = | 10,095 | 0 | |
MMC Norilsk Nickel PJSC ADR = | 4 | 0 | |
0 | |||
Singapore − 0.47% | |||
Genting Singapore | 697,500 | 497,322 | |
Geo Energy Resources | 121,400 | 29,457 | |
Riverstone Holdings | 143,000 | 65,660 | |
Samudera Shipping Line | 237,400 | 148,885 | |
STMicroelectronics | 54,199 | 1,927,858 | |
2,669,182 | |||
South Africa − 1.56% | |||
African Rainbow Minerals | 1,375 | 23,306 | |
Anglo American | 107,826 | 4,218,980 | |
Astral Foods | 7,920 | 75,861 | |
Discovery † | 540,251 | 3,922,016 | |
Exxaro Resources | 10,769 | 137,730 | |
Omnia Holdings | 7,530 | 27,725 | |
Sappi † | 35,149 | 101,861 | |
Thungela Resources | 18,870 | 311,396 | |
8,818,875 | |||
Spain − 1.66% | |||
Amadeus IT Group † | 85,720 | 4,454,898 | |
Banco Bilbao Vizcaya Argentaria | 97,389 | 587,345 | |
Cia de Distribucion Integral Logista Holdings | 5,763 | 145,588 | |
Corp ACCIONA Energias Renovables | 13,262 | 513,055 | |
Industria de Diseno Textil | 136,425 | 3,628,998 | |
Laboratorios Farmaceuticos Rovi | 2,077 | 80,173 | |
9,410,057 | |||
Sweden − 2.33% | |||
Atlas Copco Class B | 635,455 | 6,765,699 | |
Careium † | 276 | 238 | |
Doro † | 416 | 592 | |
Epiroc Class B | 314,633 | 5,055,005 | |
Instalco | 115 | 437 | |
MIPS | 32,980 | 1,358,726 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Sweden (continued) | |||
Paradox Interactive | 4 | $ 81 | |
13,180,778 | |||
Switzerland − 4.70% | |||
Cie Financiere Richemont Class A | 50,231 | 6,513,488 | |
Kuehne + Nagel International | 10,450 | 2,432,099 | |
Nestle | 64,418 | 7,464,170 | |
Novartis | 599 | 54,151 | |
Roche Holding | 24,839 | 7,803,741 | |
Swatch Group | 1,966 | 559,193 | |
Wizz Air Holdings † | 47,761 | 1,099,671 | |
Zehnder Group | 11,237 | 678,121 | |
26,604,634 | |||
Taiwan − 3.03% | |||
Aaeon Technology | 8,000 | 22,671 | |
Asustek Computer | 161,000 | 1,406,468 | |
C Sun Manufacturing | 28,987 | 40,554 | |
ChipMOS Technologies | 1,229,000 | 1,339,542 | |
Emerging Display Technologies | 104,000 | 68,689 | |
Evergreen Marine Taiwan | 361,600 | 1,917,678 | |
Everlight Electronics | 59,000 | 70,929 | |
Formosan Rubber Group | 56,000 | 39,629 | |
Group Up Industrial | 17,000 | 54,315 | |
Pou Chen | 327,000 | 363,860 | |
Realtek Semiconductor | 123,000 | 1,124,530 | |
Sea ADR † | 24,571 | 1,278,429 | |
Taiwan Semiconductor Manufacturing | 637,000 | 9,295,261 | |
Topkey | 17,000 | 101,219 | |
Unitech Computer | 31,000 | 30,611 | |
17,154,385 | |||
Thailand − 1.23% | |||
Advanced Information Technology NVDR | 276,200 | 54,227 | |
Bangkok Bank NVDR | 412,100 | 1,760,959 | |
Banpu NVDR | 3,413,500 | 1,350,222 | |
Bumrungrad Hospital NVDR | 30,600 | 187,302 | |
Haad Thip NVDR | 28,200 | 22,798 | |
Krung Thai Bank NVDR | 1,660,030 | 848,348 | |
MK Restaurants Group | 37,000 | 62,762 | |
PTT Exploration & Production NVDR | 395,800 | 2,016,997 | |
Sabina NVDR | 115,400 | 77,633 | |
Sansiri NVDR | 7,860,300 | 399,426 | |
Somboon Advance Technology NVDR | 71,300 | 43,231 | |
Susco NVDR | 424,000 | 49,213 | |
TPI Polene NVDR | 818,000 | 42,984 |
NQ-OPTIE [12/22] 2/23 (2747703) 7
Schedule of investments
Optimum International Fund (Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Thailand (continued) | |||
Univanich Palm Oil NVDR | 88,500 | $ 19,803 | |
6,935,905 | |||
Turkey − 0.09% | |||
Dogus Otomotiv Servis ve Ticaret | 35,138 | 368,247 | |
Yapi ve Kredi Bankasi | 191,094 | 120,671 | |
488,918 | |||
Ukraine − 0.24% | |||
Ferrexpo | 709,394 | 1,348,182 | |
1,348,182 | |||
United Arab Emirates − 0.98% | |||
Air Arabia | 714,303 | 418,165 | |
Dubai Islamic Bank PJSC | 598,741 | 929,266 | |
Emaar Properties PJSC | 2,080,589 | 3,319,787 | |
Emirates NBD Bank PJSC | 111,780 | 395,671 | |
Multiply Group PJSC † | 397,131 | 501,739 | |
5,564,628 | |||
United Kingdom − 2.93% | |||
AG Barr | 8,562 | 55,171 | |
AJ Bell | 5,283 | 22,878 | |
Bloomsbury Publishing | 7,978 | 43,354 | |
Coca-Cola Europacific Partners | 61,362 | 3,394,546 | |
DS Smith | 35,422 | 137,677 | |
Endava ADR † | 3,127 | 239,216 | |
Experian | 141,220 | 4,802,576 | |
Frasers Group † | 15,284 | 131,191 | |
Gem Diamonds | 5,047 | 1,983 | |
Greggs | 19 | 539 | |
Howden Joinery Group | 44,362 | 301,194 | |
Imperial Brands | 37,585 | 941,029 | |
Inchcape | 4,504 | 44,650 | |
Indivior † | 48,914 | 1,095,172 | |
Investec | 312,725 | 1,981,673 | |
Just Eat Takeaway.com † | 24,259 | 509,602 | |
Lloyds Banking Group | 436,336 | 239,542 | |
Man Group | 188,536 | 487,088 | |
ME GROUP INTERNATIONAL | 10,392 | 14,448 | |
NatWest Group | 164,654 | 527,903 | |
Ninety One | 13,874 | 31,181 | |
Oxford Nanopore Technologies † | 475,702 | 1,417,621 | |
Polar Capital Holdings | 20,918 | 120,628 | |
RELX | 928 | 25,669 | |
16,566,531 | |||
United States − 1.81% | |||
Atlassian Class A † | 9,339 | 1,201,742 | |
Ferguson | 3,391 | 430,555 | |
GSK | 87,080 | 1,513,439 | |
GSK | 67,818 | 2,383,124 | |
Jasper Infotech = | 225,780 | 229,519 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
United States (continued) | |||
Jasper Infotech Series G = | 74,730 | $ 75,968 | |
JBS | 560,100 | 2,332,800 | |
QIAGEN † | 7,109 | 354,526 | |
Spotify Technology † | 21,472 | 1,695,214 | |
Viemed Healthcare † | 6,348 | 48,149 | |
10,265,036 | |||
Total Common Stocks (cost $644,393,693) | 556,576,311 | ||
Preferred Stocks – 0.55% | |||
Brazil − 0.55% | |||
Petroleo Brasileiro 39.56% ω | 670,300 | 3,110,441 | |
3,110,441 | |||
Germany − 0.00% | |||
Villeroy & Boch 5.70% ω | 733 | 13,142 | |
13,142 | |||
Total Preferred Stocks (cost $3,553,172) | 3,123,583 |
Short-Term Investments – 0.60% | |||
Money Market Mutual Funds – 0.60% | |||
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.03%) | 847,732 | 847,732 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.06%) | 847,732 | 847,732 | |
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.23%) | 847,732 | 847,732 |
8 NQ-OPTIE [12/22] 2/23 (2747703)
(Unaudited)
Number ofshares | Value (US $) | ||
Short-Term Investments (continued) | |||
Money Market Mutual Funds (continued) | |||
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.11%) | 847,733 | $ 847,733 | |
Total Short-Term Investments (cost $3,390,929) | 3,390,929 | ||
Total Value of Securities−99.53% (cost $651,337,794) | 563,090,823 | ||
Receivables and Other Assets Net of Liabilities — 0.47% | 2,656,334 |
Net Assets Applicable to 55,117,017 Shares Outstanding — 100.00% | $565,747,157 |
Δ | Securities have been classified by country of risk. |
† | Non-income producing security. |
= | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the disclosure table located in Note 3 in “Notes to financial statements.” |
ω | Perpetual security with no stated maturity date. |
The following foreign currency exchange contracts were outstanding at December 31, 2022:
Foreign Currency Exchange Contracts | ||||||||||||
Counterparty | Currency to Receive (Deliver) | In Exchange For | Settlement Date | Unrealized Appreciation | Unrealized Depreciation | |||||||
BNYM | CNY | (337,680) | USD | 48,415 | 1/3/23 | $— | $(328) | |||||
BNYM | TRY | (575,199) | USD | 30,715 | 1/3/23 | 48 | — | |||||
Total Foreign Currency Exchange Contracts | $48 | $(328) |
The use of foreign currency exchange contracts involves elements of market risk and risks in excess of the amounts disclosed in the financial statements. The foreign currency exchange contracts presented above represent the Fund’s total exposure in such contracts, whereas only the net unrealized appreciation(depreciation) is reflected in the Fund’s net assets.
Summary of abbreviations: |
ADR – American Depositary Receipt |
BNYM – Bank of New York Mellon |
CVA – Certified Dutch Certificate |
GDR – Global Depositary Receipt |
NVDR – Non-Voting Depositary Receipt |
PJSC – Private Joint Stock Company |
UT – Unlimited Tax |
Summary of currencies: |
CNY – China Yuan Renminbi |
TRY – Turkish Lira |
USD – US Dollar |
NQ-OPTIE [12/22] 2/23 (2747703) 9