Schedule of investments
Optimum International Fund
December 31, 2023 (Unaudited)
Number of shares | Value (US $) | ||
Common Stocks – 98.41%Δ | |||
Australia − 4.63% | |||
Ampol | 22,584 | $ 556,344 | |
Aristocrat Leisure | 226,494 | 6,300,336 | |
Base Resources | 470,327 | 49,678 | |
BlueScope Steel | 264,082 | 4,211,033 | |
Brambles | 139,380 | 1,291,735 | |
Champion Iron | 22,450 | 128,355 | |
Cochlear | 3,627 | 738,198 | |
CSR | 23,001 | 103,449 | |
EBOS Group | 47 | 1,055 | |
Electro Optic Systems Holdings † | 36,275 | 25,708 | |
Enero Group | 23,974 | 25,322 | |
Fortescue | 58,384 | 1,154,583 | |
Iluka Resources | 40,247 | 181,014 | |
New Hope | 226,057 | 794,880 | |
Northern Star Resources | 183,321 | 1,705,214 | |
Nufarm | 209,710 | 745,974 | |
OceanaGold | 26,300 | 50,415 | |
Orica | 56,364 | 612,243 | |
Orora | 42,589 | 75,458 | |
Pro Medicus | 689 | 44,994 | |
Qantas Airways † | 17,682 | 64,705 | |
Ramelius Resources | 118,448 | 136,007 | |
REA Group | 2,793 | 344,781 | |
Red 5 † | 199,069 | 42,053 | |
Regis Resources † | 58,784 | 87,327 | |
Rio Tinto | 101,833 | 7,583,000 | |
Rio Tinto ADR | 47,944 | 3,569,910 | |
South32 | 802,163 | 1,820,291 | |
Stanmore Resources | 74,795 | 204,386 | |
Wagners Holding † | 20,675 | 14,089 | |
Washington H Soul Pattinson & Co. | 18,648 | 416,431 | |
Whitehaven Coal | 600,510 | 3,044,579 | |
36,123,547 | |||
Austria − 0.09% | |||
ANDRITZ | 5,004 | 311,563 | |
OMV | 4,423 | 194,188 | |
Raiffeisen Bank International | 877 | 18,076 | |
Verbund | 1,191 | 110,509 | |
Zumtobel Group | 3,911 | 27,114 | |
661,450 | |||
Brazil − 2.29% | |||
CSN Mineracao | 163,967 | 264,299 | |
Gerdau ADR | 133,208 | 646,059 | |
MercadoLibre † | 10,777 | 16,936,487 | |
17,846,845 | |||
Canada − 4.07% | |||
AbCellera Biologics † | 119,399 | 681,768 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Canada (continued) | |||
ADENTRA | 1,925 | $ 46,445 | |
Bird Construction | 33,900 | 368,409 | |
Calfrac Well Services † | 8,609 | 29,042 | |
Calibre Mining † | 82,855 | 85,040 | |
Canfor † | 6,200 | 83,521 | |
Cascades | 36,700 | 352,584 | |
Celestica † | 54,897 | 1,607,904 | |
CES Energy Solutions | 22,773 | 59,294 | |
Cogeco | 1,000 | 43,146 | |
Constellation Software | 2,503 | 6,205,827 | |
Crew Energy † | 9,925 | 34,006 | |
DRI Healthcare Trust | 5,500 | 51,802 | |
Empire Class A | 13,800 | 365,035 | |
Ensign Energy Services † | 15,700 | 25,711 | |
Fairfax Financial Holdings | 200 | 184,523 | |
Finning International | 43,100 | 1,246,437 | |
Hammond Power Solutions | 1,223 | 75,408 | |
iA Financial | 22,000 | 1,499,762 | |
Leon's Furniture | 2,300 | 31,522 | |
Linamar | 1,191 | 57,543 | |
Lumine Group † | 147,948 | 3,338,474 | |
Major Drilling Group International † | 23,788 | 165,343 | |
Martinrea International | 25,979 | 281,151 | |
MEG Energy † | 193,100 | 3,449,437 | |
Mullen Group | 7,400 | 78,409 | |
Neo Performance Materials | 2,852 | 16,423 | |
North American Construction Group | 7,641 | 159,315 | |
North West | 2,100 | 62,237 | |
PHX Energy Services | 10,600 | 64,798 | |
Pizza Pizza Royalty | 11,000 | 122,199 | |
Precision Drilling † | 1,008 | 54,742 | |
Russel Metals | 2,600 | 88,357 | |
Shopify Class A † | 53,613 | 4,176,453 | |
TFI International | 15,300 | 2,081,183 | |
TMX Group | 168,240 | 4,069,350 | |
Torex Gold Resources † | 10,373 | 114,451 | |
Total Energy Services | 7,700 | 43,932 | |
Transat AT † | 8,134 | 22,897 | |
Victoria Gold † | 5,100 | 26,788 | |
Wajax | 1,700 | 38,836 | |
Winpak | 3,300 | 101,860 | |
31,691,364 | |||
China/Hong Kong − 10.37% | |||
37 Interactive Entertainment Network Technology Group Class A | 268,300 | 711,588 | |
Agricultural Bank of China Class H | 7,090,000 | 2,733,035 |
NQ- OPTIE [1223] 0224 (3376036) 1
Schedule of investments
Optimum International Fund (Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
China/Hong Kong (continued) | |||
AIA Group | 1,063,200 | $ 9,265,641 | |
Alibaba Group Holding | 249,300 | 2,413,662 | |
Asia Cement China Holdings | 138,983 | 43,429 | |
Autohome ADR | 25,722 | 721,759 | |
Bank of Communications Class H | 552,000 | 344,271 | |
Baoxiniao Holding Class A | 471,700 | 377,775 | |
Build King Holdings | 73,424 | 10,814 | |
BYD Electronic International | 119,000 | 557,777 | |
Canny Elevator Class A | 331,000 | 350,966 | |
Changjiang Publishing & Media Class A | 784,100 | 823,658 | |
Chengdu Kanghong Pharmaceutical Group Class A | 183,500 | 477,107 | |
China CITIC Bank Class H | 1,673,000 | 788,454 | |
China Construction Bank Class H | 13,324,000 | 7,934,507 | |
China Display Optoelectronics Technology Holdings † | 311,330 | 8,213 | |
China Minsheng Banking Class H | 2,913,500 | 988,766 | |
China Pacific Insurance Group Class H | 685,400 | 1,383,352 | |
Chongqing Rural Commercial Bank Class H | 60,502 | 23,477 | |
Consun Pharmaceutical Group | 44,000 | 26,878 | |
Dah Sing Financial Holdings | 30,000 | 61,472 | |
Focus Technology Class A | 34,900 | 163,029 | |
Ganyuan Foods Class A | 32,000 | 322,428 | |
G-bits Network Technology Xiamen Class A | 12,900 | 445,849 | |
GigaCloud Technology Class A † | 2,580 | 47,201 | |
Guangdong Vanward New Electric Class A | 231,200 | 290,785 | |
Hisense Visual Technology Class A | 119,100 | 350,976 | |
HLA Group Class A | 1,385,898 | 1,449,954 | |
HUANLEJIA Food Group Class A | 97,400 | 191,856 | |
Industrial & Commercial Bank of China Class H | 2,623,000 | 1,283,199 | |
Jiutian Chemical Group | 1,258,400 | 24,791 | |
JOYY ADR | 17,282 | 686,095 | |
Lenovo Group | 1,622,000 | ���2,268,328 | |
Meituan Class B † | 145,690 | 1,528,080 | |
Milkyway Chemical Supply Chain Service Class A | 18,200 | 136,548 | |
MINISO Group Holding ADR | 46,456 | 947,702 | |
Natural Food International Holding † | 344,000 | 20,045 | |
NetEase | 79,100 | 1,424,276 | |
New China Life Insurance Class H | 600,700 | 1,170,859 | |
Neway Valve Suzhou Class A | 64,500 | 126,050 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
China/Hong Kong (continued) | |||
Olympic Circuit Technology Class A | 105,700 | $ 272,440 | |
Opple Lighting Class A | 216,899 | 531,528 | |
Orient Overseas International | 11,991 | 167,384 | |
Pacific Basin Shipping | 57,232 | 18,837 | |
PAX Global Technology | 104,968 | 81,329 | |
PDD Holdings ADR † | 10,220 | 1,495,288 | |
Perennial Energy Holdings | 226,875 | 24,697 | |
PetroChina Class H | 8,868,000 | 5,860,137 | |
Ping An Insurance Group Co. of China Class H | 460,500 | 2,084,738 | |
Prosus † | 90,417 | 2,693,531 | |
Quectel Wireless Solutions Class A | 13,600 | 103,071 | |
Shenzhen Fuanna Bedding and Furnishing Class A | 191,500 | 241,663 | |
Shenzhen Laibao Hi-tech Class A | 558,300 | 837,584 | |
Silergy | 188,000 | 3,062,837 | |
Sinopec Engineering Group Class H | 34,001 | 17,417 | |
SITC International Holdings | 208,000 | 359,075 | |
TAL Education Group ADR † | 26,189 | 330,767 | |
Ten Pao Group Holdings | 28,685 | 3,747 | |
Tencent Holdings | 115,200 | 4,331,526 | |
Tencent Music Entertainment Group ADR † | 448,230 | 4,038,552 | |
Tian Di Science & Technology Class A | 416,400 | 319,395 | |
Time Publishing and Media Class A | 69,300 | 106,409 | |
Trip.com Group ADR † | 7,743 | 278,825 | |
United Laboratories International Holdings | 222,000 | 199,298 | |
Universal Scientific Industrial Shanghai Class A | 300,700 | 640,644 | |
Vipshop Holdings ADR † | 153,207 | 2,720,956 | |
Weibo ADR | 15,910 | 174,215 | |
Wuxi Biologics Cayman † | 393,000 | 1,489,761 | |
Xiamen Comfort Science & Technology Group Class A | 297,700 | 314,818 | |
Xiamen Jihong Technology Class A | 203,300 | 589,358 | |
Xiangpiaopiao Food Class A | 96,700 | 233,699 | |
Xiaomi Class B † | 306,400 | 612,133 | |
Yangzijiang Shipbuilding Holdings | 510,800 | 576,694 | |
Yue Yuen Industrial Holdings | 21,000 | 23,236 | |
Yutong Bus Class A | 660,300 | 1,233,605 | |
Zhejiang Publishing & Media Class A | 469,500 | 505,764 |
2 NQ- OPTIE [1223] 0224 (3376036)
(Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
China/Hong Kong (continued) | |||
Zhejiang Semir Garment Class A | 1,354,878 | $ 1,102,288 | |
Zhejiang Supor Class A | 34,500 | 257,867 | |
80,859,765 | |||
Denmark − 5.28% | |||
Ambu Class B † | 106,444 | 1,658,286 | |
AP Moller - Maersk Class B | 2,461 | 4,424,384 | |
Chr Hansen Holding | 33,014 | 2,768,156 | |
Demant † | 116,432 | 5,103,717 | |
DSV | 32,088 | 5,633,350 | |
Genmab † | 2,272 | 725,067 | |
Novo Nordisk Class B | 121,624 | 12,573,595 | |
Novozymes Class B | 81,340 | 4,470,105 | |
Pandora | 25,300 | 3,496,373 | |
ROCKWOOL International Class B | 1,106 | 323,642 | |
41,176,675 | |||
Egypt − 0.00% | |||
ElSewedy Electric | 13,000 | 12,027 | |
12,027 | |||
Finland − 0.67% | |||
Cargotec Class B | 2,701 | 157,139 | |
Kone Class B | 89,779 | 4,475,876 | |
Orion Class A | 1,418 | 61,364 | |
Vaisala Class A | 805 | 35,281 | |
Wartsila | 34,801 | 504,244 | |
5,233,904 | |||
France − 5.69% | |||
Aubay | 452 | 20,783 | |
Cie de Saint-Gobain | 9,820 | 722,647 | |
Danone | 110,877 | 7,182,588 | |
Dassault Aviation | 4,595 | 909,019 | |
Dassault Systemes | 134,376 | 6,562,014 | |
Edenred | 105,738 | 6,319,733 | |
Hermes International | 3,680 | 7,795,194 | |
Ipsen | 7,085 | 843,938 | |
Kering | 9,186 | 4,046,213 | |
La Francaise des Jeux | 3,442 | 124,785 | |
LVMH Moet Hennessy Louis Vuitton | 4,586 | 3,714,008 | |
Nexans | 21,908 | 1,916,688 | |
Publicis Groupe | 1,033 | 95,792 | |
Rexel | 46,259 | 1,264,945 | |
Sartorius Stedim Biotech | 10,772 | 2,848,074 | |
44,366,421 | |||
Germany − 6.78% | |||
BioNTech ADR † | 20,404 | 2,153,438 | |
Deutsche Boerse | 43,786 | 9,014,954 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Germany (continued) | |||
E.ON | 17,731 | $ 237,826 | |
Heidelberg Materials | 57,502 | 5,138,017 | |
HOCHTIEF | 1,038 | 114,934 | |
Knorr-Bremse | 18,503 | 1,201,072 | |
Rational | 7,014 | 5,416,302 | |
SAP | 138,492 | 21,324,852 | |
Scout24 | 112,681 | 7,981,131 | |
thyssenkrupp | 22,911 | 159,647 | |
Traton | 3,233 | 76,093 | |
Trivago ADR | 3,049 | 7,440 | |
Westwing Group † | 2 | 19 | |
52,825,725 | |||
Greece − 0.07% | |||
National Bank of Greece † | 69,547 | 482,924 | |
Thrace Plastics Holding and Co. | 12,866 | 59,512 | |
542,436 | |||
Hungary − 0.39% | |||
MOL Hungarian Oil & Gas | 157,107 | 1,279,813 | |
OTP Bank | 38,678 | 1,761,570 | |
3,041,383 | |||
India − 3.42% | |||
Acevector Limited =, †, π | 225,780 | 94,774 | |
Acevector Limited Series G =, †, π | 74,730 | 31,369 | |
Angel One | 11,904 | 498,941 | |
AurionPro Solutions | 13,221 | 345,850 | |
Coal India | 60,078 | 271,461 | |
Deccan Cements | 1,593 | 10,814 | |
Gujarat Industries Power | 13,155 | 27,539 | |
Gujarat State Petronet | 71,359 | 262,407 | |
HCL Technologies | 17,806 | 313,715 | |
HDFC Bank | 363,509 | 7,466,648 | |
Hindustan Aeronautics | 28,494 | 960,144 | |
ICICI Lombard General Insurance | 197,427 | 3,369,228 | |
Indian Oil | 1,742,618 | 2,719,250 | |
ITD Cementation India | 71,924 | 246,895 | |
Jindal Saw | 24,708 | 122,347 | |
Kirloskar Industries | 1,576 | 66,898 | |
Mahanagar Gas | 7,438 | 107,306 | |
Mangalore Refinery & Petrochemicals † | 179,894 | 287,848 | |
Mazagon Dock Shipbuilders | 36,309 | 995,235 | |
NCL Industries | 11,382 | 30,413 | |
Oil & Natural Gas | 133,431 | 328,792 | |
Power Finance | 124,161 | 570,867 | |
Power Mech Projects | 2,546 | 131,120 | |
Ramkrishna Forgings | 17,952 | 156,558 | |
Reliance Industries | 216,179 | 6,715,379 | |
Rupa & Co. | 325 | 1,048 |
NQ- OPTIE [1223] 0224 (3376036) 3
Schedule of investments
Optimum International Fund (Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
India (continued) | |||
Savita Oil Technologies | 6,402 | $ 27,085 | |
Welspun Enterprises | 23,788 | 93,264 | |
WNS Holdings ADR † | 4,580 | 289,456 | |
Wonderla Holidays | 13,722 | 139,019 | |
26,681,670 | |||
Indonesia − 0.48% | |||
ABM Investama | 525,200 | 115,976 | |
Adaro Energy Indonesia | 12,846,998 | 1,985,832 | |
Akasha Wira International † | 37,900 | 23,815 | |
Asuransi Tugu Pratama Indonesia | 107,400 | 7,115 | |
Bank OCBC Nisp | 430,693 | 33,007 | |
Blue Bird | 479,300 | 55,722 | |
Bukit Asam | 1,587,300 | 251,543 | |
Bumitama Agri | 97,300 | 44,604 | |
Golden Agri-Resources | 174,300 | 34,338 | |
Hanjaya Mandala Sampoerna | 948,500 | 55,135 | |
Indo Tambangraya Megah | 16,519 | 27,519 | |
Indo-Rama Synthetics | 28,097 | 5,566 | |
Panin Financial † | 10,077,600 | 172,792 | |
Perusahaan Gas Negara | 2,926,720 | 214,795 | |
Samudera Indonesia | 42,480 | 883 | |
United Tractors | 482,700 | 709,300 | |
3,737,942 | |||
Ireland − 4.44% | |||
CRH | 141,194 | 9,736,536 | |
Experian | 147,122 | 6,004,680 | |
Kingspan Group | 93,544 | 8,096,203 | |
Ryanair Holdings ADR † | 80,464 | 10,730,679 | |
34,568,098 | |||
Israel − 1.57% | |||
Check Point Software Technologies † | 37,261 | 5,693,108 | |
Cognyte Software † | 780 | 5,016 | |
Isracard | 0 | 0 | |
Ituran Location and Control | 1,671 | 45,518 | |
Nice ADR † | 7,534 | 1,503,108 | |
Wix.com † | 40,475 | 4,979,235 | |
12,225,985 | |||
Italy − 1.39% | |||
A2A | 141,603 | 290,604 | |
Assicurazioni Generali | 1,200 | 25,309 | |
Banca Mediolanum | 37,213 | 350,588 | |
Buzzi | 2,986 | 90,783 | |
Ferrari | 5,567 | 1,875,664 | |
FinecoBank Banca Fineco | 316,189 | 4,741,937 | |
Hera | 87,461 | 286,954 | |
Leonardo | 33,857 | 558,217 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Italy (continued) | |||
Recordati Industria Chimica e Farmaceutica | 1,044 | $ 56,278 | |
Technoprobe † | 268,350 | 2,561,038 | |
10,837,372 | |||
Japan − 11.32% | |||
A&A Material | 1,800 | 15,881 | |
A&D HOLON Holdings | 4,800 | 61,345 | |
Achilles | 3,900 | 42,679 | |
Adastria | 3,600 | 88,723 | |
Advanced Media | 6,500 | 87,450 | |
AGS | 3,000 | 17,723 | |
AIT | 4,100 | 50,189 | |
Akatsuki | 2,700 | 48,485 | |
AlphaPolis † | 1,500 | 24,489 | |
Alps Logistics | 3,100 | 36,518 | |
Amano | 3,000 | 71,106 | |
Amiyaki Tei | 1,200 | 32,553 | |
Anest Iwata | 7,200 | 56,630 | |
ASAHI YUKIZAI | 4,000 | 107,660 | |
Avant Group | 2,000 | 20,170 | |
Avex | 4,800 | 46,570 | |
Axell | 1,200 | 18,366 | |
Axial Retailing | 1,000 | 29,468 | |
Bewith | 2,500 | 36,720 | |
BIPROGY | 3,800 | 118,986 | |
BML | 10,600 | 225,532 | |
Brother Industries | 30,200 | 482,022 | |
Business Brain Showa-Ota | 1,800 | 27,855 | |
Business Engineering | 1,100 | 32,142 | |
Capcom | 21,100 | 681,784 | |
Carlit Holdings | 5,000 | 32,943 | |
Central Glass | 3,600 | 68,043 | |
Central Security Patrols | 1,300 | 23,492 | |
COLOPL | 5,200 | 21,796 | |
Computer Engineering & Consulting | 4,100 | 45,565 | |
Cosel | 6,400 | 62,411 | |
CTI Engineering | 2,000 | 74,610 | |
Dai Nippon Printing | 4,300 | 127,262 | |
Dai Nippon Toryo | 4,200 | 30,383 | |
Dai-Dan | 3,400 | 34,362 | |
Daihatsu Diesel Manufacturing | 6,500 | 45,408 | |
Dai-ichi Life Holdings | 28,000 | 594,156 | |
Dainichiseika Color & Chemicals Manufacturing | 2,100 | 37,621 | |
Daitron | 2,300 | 45,690 | |
Daiwa Industries | 4,700 | 50,333 | |
Densan System Holdings | 1,500 | 29,447 | |
Denso | 309,700 | 4,671,857 |
4 NQ- OPTIE [1223] 0224 (3376036)
(Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Japan (continued) | |||
Digital Arts | 1,000 | $ 36,383 | |
Direct Marketing MiX | 10,400 | 32,601 | |
Disco | 100 | 24,809 | |
Doshisha | 6,100 | 90,159 | |
Eizo | 1,500 | 52,500 | |
Elecom | 27,700 | 344,973 | |
Elematec | 5,000 | 62,163 | |
en Japan | 24,100 | 465,762 | |
ERI Holdings | 1,700 | 20,641 | |
Fabrica Communications | 2,500 | 32,553 | |
FANUC | 161,900 | 4,761,697 | |
Fast Retailing | 2,000 | 496,312 | |
FCC | 3,100 | 38,255 | |
Forum Engineering | 7,400 | 43,718 | |
Fudo Tetra | 3,700 | 59,331 | |
Fuji Seal International | 5,400 | 65,643 | |
Fujimori Kogyo | 1,300 | 34,851 | |
Fujitsu | 20,261 | 3,057,112 | |
Fukushima Galilei | 1,100 | 38,071 | |
Fukuyama Transporting | 1,400 | 40,262 | |
Furyu | 9,000 | 88,979 | |
Fuso Pharmaceutical Industries | 600 | 8,047 | |
Gakujo | 2,600 | 33,321 | |
Glory | 4,600 | 87,824 | |
Hakuhodo DY Holdings | 23,700 | 181,616 | |
Hamakyorex | 1,400 | 39,468 | |
Hanwa | 3,300 | 116,904 | |
Hennge † | 3,000 | 25,681 | |
Hisamitsu Pharmaceutical | 4,900 | 149,815 | |
Hito Communications Holdings | 2,900 | 25,133 | |
Hokkaido Gas | 1,600 | 24,987 | |
H-One | 4,900 | 27,384 | |
Horiba | 7,400 | 578,879 | |
Hosokawa Micron | 1,900 | 53,160 | |
Ichiken | 3,100 | 50,348 | |
Ichikoh Industries | 9,200 | 33,016 | |
Ichiyoshi Securities | 1,100 | 5,516 | |
ID Holdings | 3,000 | 35,851 | |
IG Port | 1,200 | 39,830 | |
I'll | 2,300 | 52,117 | |
I-PEX | 9,200 | 100,613 | |
ISB | 3,100 | 32,253 | |
Itfor | 8,900 | 75,492 | |
ITmedia | 3,800 | 26,357 | |
IwaiCosmo Holdings | 3,200 | 41,713 | |
Iwaki | 4,900 | 72,179 | |
JAC Recruitment | 34,000 | 156,738 | |
Japan Lifeline | 6,600 | 59,119 | |
Japan Medical Dynamic Marketing | 4,600 | 24,762 | |
Japan Post Holdings | 15,200 | 135,776 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Japan (continued) | |||
Japan Post Insurance | 80,100 | $ 1,422,485 | |
Japan System Techniques | 9,800 | 209,206 | |
JK Holdings | 3,600 | 26,477 | |
JSP | 3,400 | 44,176 | |
Kanamoto | 6,000 | 124,511 | |
Kato Works | 19,900 | 178,535 | |
Keyence | 8,600 | 3,788,879 | |
Kitz | 12,300 | 105,204 | |
KNT-CT Holdings † | 5,100 | 46,443 | |
Kokuyo | 7,400 | 120,394 | |
Konoike Transport | 10,000 | 138,298 | |
Kyokuto Securities | 8,400 | 57,370 | |
LIFULL | 13,500 | 17,138 | |
Look Holdings | 2,200 | 36,089 | |
Maezawa Industries | 4,400 | 30,613 | |
Maruzen Showa Unyu | 3,200 | 88,738 | |
Marvelous | 9,000 | 45,511 | |
Matching Service Japan | 8,100 | 65,145 | |
Matsuoka | 2,400 | 24,681 | |
Maxell | 13,400 | 148,255 | |
Megachips | 5,300 | 175,915 | |
Meidensha | 7,900 | 136,429 | |
MEITEC Group Holdings | 7,100 | 142,353 | |
Melco Holdings | 1,700 | 41,535 | |
MIMAKI ENGINEERING | 3,900 | 25,585 | |
Mimasu Semiconductor Industry | 1,800 | 40,851 | |
Miroku Jyoho Service | 14,900 | 185,563 | |
Mitani Sangyo | 10,400 | 24,783 | |
Mitsuba | 8,000 | 55,603 | |
Mitsubishi Kakoki Kaisha | 1,600 | 36,936 | |
Mitsubishi Research Institute | 6,400 | 210,156 | |
Miura | 5,900 | 117,498 | |
MIXI | 19,200 | 321,498 | |
MonotaRO | 270,700 | 2,955,622 | |
MORESCO | 2,700 | 24,760 | |
Moriroku Holdings | 4,500 | 88,787 | |
Morito | 4,900 | 44,656 | |
Naigai Trans Line | 1,600 | 26,939 | |
NEC | 65,800 | 3,896,667 | |
NEOJAPAN | 3,500 | 25,319 | |
Nichias | 2,700 | 64,915 | |
NIDEC | 54,400 | 2,197,220 | |
Nihon Chouzai | 8,300 | 82,353 | |
Nihon Kohden | 100 | 3,165 | |
Nihon M&A Center Holdings | 501,500 | 2,766,075 | |
Nihon Parkerizing | 6,200 | 50,040 | |
Nihon Trim | 1,000 | 21,418 | |
Nintendo | 79,900 | 4,170,100 | |
Nippon Shinyaku | 5,400 | 191,336 | |
Nippon Thompson | 11,900 | 47,600 |
NQ- OPTIE [1223] 0224 (3376036) 5
Schedule of investments
Optimum International Fund (Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Japan (continued) | |||
Nissan Motor | 548,500 | $ 2,155,877 | |
Nisshinbo Holdings | 39,400 | 320,090 | |
Nissin | 1,500 | 25,532 | |
Nisso Holdings | 14,500 | 81,755 | |
Nitto Kohki | 2,100 | 27,806 | |
Nitto Seiko | 4,900 | 18,279 | |
NS Solutions | 2,000 | 64,894 | |
Obara Group | 900 | 24,096 | |
Obic | 8,500 | 1,464,592 | |
OBIC Business Consultants | 600 | 27,447 | |
Okabe | 5,100 | 26,477 | |
Okamura | 2,700 | 41,745 | |
Okinawa Financial Group | 3,700 | 61,562 | |
Ono Pharmaceutical | 4,600 | 82,082 | |
Optim † | 3,900 | 22,847 | |
Optorun | 2,500 | 28,918 | |
Oracle | 1,200 | 92,511 | |
Oro | 1,600 | 29,322 | |
Osaki Electric | 12,200 | 55,462 | |
Otsuka | 36,400 | 1,500,661 | |
Persol Holdings | 427,400 | 733,855 | |
PR Times † | 2,200 | 28,194 | |
Prestige International | 6,900 | 29,362 | |
Pronexus | 2,600 | 24,285 | |
QB Net Holdings | 2,500 | 26,596 | |
Rasa | 5,300 | 56,721 | |
Recruit Holdings | 134,500 | 5,688,110 | |
Rheon Automatic Machinery | 3,300 | 35,200 | |
Ricoh | 10,600 | 81,417 | |
Sakata INX | 3,000 | 28,894 | |
Sanken Electric | 800 | 44,113 | |
Sanyo Shokai | 6,300 | 105,983 | |
Sato Shoji | 1,000 | 10,333 | |
SB Technology | 1,500 | 25,266 | |
SCREEN Holdings | 31,000 | 2,622,908 | |
SCSK | 19,500 | 386,681 | |
Seika | 1,900 | 39,779 | |
Sekisui Kasei | 7,100 | 24,472 | |
Shibusawa Warehouse | 1,600 | 33,044 | |
Shibuya | 1,400 | 24,257 | |
Shimano | 23,300 | 3,608,195 | |
Shinagawa Refractories | 11,500 | 140,202 | |
Shindengen Electric Manufacturing | 1,400 | 30,085 | |
Shinnihonseiyaku | 2,500 | 30,514 | |
Shiseido | 105,700 | 3,187,492 | |
Shofu | 1,500 | 29,277 | |
SIGMAXYZ Holdings | 1,400 | 14,397 | |
Sinfonia Technology | 2,500 | 36,933 | |
SMC | 8,900 | 4,782,014 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Japan (continued) | |||
SMK | 1,300 | $ 23,621 | |
SMS | 9,100 | 187,131 | |
Soda Nikka | 4,600 | 34,973 | |
Sodick | 12,100 | 62,560 | |
Softcreate Holdings | 2,100 | 25,617 | |
Solasto | 10,600 | 46,309 | |
Soliton Systems | 16,300 | 160,919 | |
Sony Group | 73,800 | 7,018,851 | |
Space | 2,900 | 19,169 | |
SRA Holdings | 3,400 | 85,965 | |
Star Micronics | 10,200 | 124,353 | |
Step | 1,800 | 24,051 | |
Subaru | 77,500 | 1,421,383 | |
Sugimoto & Co. | 1,700 | 26,923 | |
Sumitomo Seika Chemicals | 1,100 | 38,929 | |
Sun Asterisk † | 9,800 | 67,210 | |
Sun-Wa Technos | 100 | 1,557 | |
Suzuken | 8,800 | 291,399 | |
System Research | 2,100 | 43,072 | |
Systems Engineering Consultants | 1,600 | 58,099 | |
Systena | 12,500 | 27,128 | |
Tadano | 5,100 | 42,645 | |
Taihei Dengyo Kaisha | 1,000 | 31,702 | |
Takashima & Co. | 5,200 | 43,149 | |
Teikoku Electric Manufacturing | 3,300 | 68,972 | |
Tenma | 1,400 | 22,082 | |
T-Gaia | 30,550 | 418,167 | |
TIS | 27,900 | 614,789 | |
TKC | 1,700 | 45,333 | |
TOA ROAD | 1,200 | 56,936 | |
Tochigi Bank | 15,400 | 33,858 | |
Tokyo Rope Manufacturing | 4,400 | 41,660 | |
Tokyo Seimitsu | 3,300 | 202,938 | |
Toli | 12,100 | 27,375 | |
Topy Industries | 3,000 | 54,362 | |
Toyo Engineering † | 6,200 | 34,606 | |
Toyo Kanetsu | 2,900 | 79,596 | |
Transcosmos | 3,000 | 64,149 | |
Trend Micro † | 29,800 | 1,595,251 | |
Trusco Nakayama | 7,600 | 131,841 | |
Tsubakimoto Chain | 4,600 | 131,965 | |
Tsugami | 7,200 | 62,043 | |
Tsuzuki Denki | 1,900 | 30,346 | |
TV Asahi Holdings | 7,100 | 80,920 | |
Ubicom Holdings | 4,200 | 49,715 | |
Unipres | 4,200 | 28,387 | |
UT Group † | 1,500 | 26,000 | |
ValueCommerce | 5,900 | 61,385 | |
Vector | 7,200 | 57,906 | |
Vision † | 9,500 | 82,872 |
6 NQ- OPTIE [1223] 0224 (3376036)
(Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Japan (continued) | |||
Warabeya Nichiyo Holdings | 7,600 | $ 184,610 | |
Will Group | 3,200 | 26,235 | |
Wowow | 2,000 | 15,149 | |
Xebio Holdings | 3,700 | 25,087 | |
YAMADA Consulting Group | 2,900 | 35,191 | |
Yamae Group Holdings | 2,200 | 59,603 | |
Yamaichi Electronics | 4,000 | 54,922 | |
Yorozu | 3,800 | 22,342 | |
Yushin Precision Equipment | 6,700 | 31,694 | |
Zenrin | 14,400 | 89,260 | |
ZIGExN | 29,300 | 110,343 | |
88,252,063 | |||
Malaysia − 0.04% | |||
Fraser & Neave Holdings | 12,900 | 79,056 | |
Hap Seng Plantations Holdings | 6,900 | 2,583 | |
Lingkaran Trans Kota Holdings =, † | 42,600 | 34 | |
Magni-Tech Industries | 32,900 | 13,389 | |
Sarawak Oil Palms | 36,100 | 20,348 | |
Ta Ann Holdings | 49,000 | 39,030 | |
United Plantations | 6,700 | 25,954 | |
YTL | 244,500 | 100,567 | |
280,961 | |||
Mexico − 0.06% | |||
Ternium ADR | 11,578 | 491,718 | |
491,718 | |||
Netherlands − 4.60% | |||
Adyen † | 4,351 | 5,603,514 | |
ASML Holding | 7,576 | 5,701,415 | |
Brunel International | 4,026 | 49,690 | |
EXOR | 42,566 | 4,252,662 | |
IMCD | 35,988 | 6,259,297 | |
Shell | 30,481 | 999,095 | |
Topicus.com † | 54,536 | 3,672,912 | |
Van Lanschot Kempen CVA | 1,316 | 40,896 | |
Wolters Kluwer | 65,352 | 9,285,105 | |
35,864,586 | |||
New Zealand − 0.00% | |||
Air New Zealand | 68,235 | 27,391 | |
27,391 | |||
Norway − 0.28% | |||
Aker Carbon Capture † | 1,620,313 | 2,165,754 | |
Hunter Group | 3,214 | 677 | |
Western Bulk Chartering | 8,266 | 20,340 | |
2,186,771 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Panama − 0.41% | |||
Copa Holdings Class A | 29,766 | $ 3,164,423 | |
3,164,423 | |||
Philippines − 0.01% | |||
Ginebra San Miguel | 33,690 | 102,637 | |
102,637 | |||
Poland − 0.36% | |||
Bank Millennium † | 1,256 | 2,667 | |
Bank Polska Kasa Opieki | 12,233 | 472,718 | |
PGE Polska Grupa Energetyczna † | 8,347 | 18,409 | |
Powszechna Kasa Oszczednosci Bank Polski † | 97,290 | 1,244,204 | |
Powszechny Zaklad Ubezpieczen | 88,044 | 1,057,714 | |
Santander Bank Polska | 244 | 30,373 | |
Unimot | 285 | 8,982 | |
2,835,067 | |||
Portugal − 0.04% | |||
Jeronimo Martins | 11,338 | 288,382 | |
Sonae | 13,626 | 13,606 | |
301,988 | |||
Republic of Korea − 1.98% | |||
BNK Financial Group | 55,107 | 304,776 | |
Coupang † | 190,384 | 3,082,317 | |
Crown Confectionery | 1,504 | 9,772 | |
Haesung Industrial | 1,711 | 10,699 | |
Hana Financial Group | 21,748 | 729,528 | |
JB Financial Group | 46,074 | 406,193 | |
Keyang Electric Machinery | 7,515 | 10,805 | |
Korean Reinsurance | 1,572 | 8,727 | |
Sambo Corrugated Board † | 3,512 | 25,692 | |
Samsung Electronics | 177,518 | 10,774,782 | |
SeAH Holdings | 268 | 22,474 | |
SGC e Tec E&C | 691 | 10,334 | |
15,396,099 | |||
Russia − 0.00% | |||
MMC Norilsk Nickel PJSC = | 10,095 | 0 | |
MMC Norilsk Nickel PJSC ADR =, † | 4 | 0 | |
0 | |||
Singapore − 0.87% | |||
China Aviation Oil Singapore | 31,800 | 21,084 | |
Genting Singapore | 1,659,700 | 1,257,587 | |
Riverstone Holdings | 119,000 | 63,569 | |
Samudera Shipping Line | 237,400 | 118,722 | |
Sea ADR † | 43,126 | 1,746,603 | |
Singapore Airlines | 544,200 | 2,705,021 |
NQ- OPTIE [1223] 0224 (3376036) 7
Schedule of investments
Optimum International Fund (Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Singapore (continued) | |||
Singapore Exchange | 113,497 | $ 845,369 | |
6,757,955 | |||
South Africa − 0.92% | |||
Anglo American | 107,826 | 2,708,401 | |
Discovery | 560,846 | 4,405,213 | |
Exxaro Resources | 7,516 | 84,016 | |
7,197,630 | |||
Spain − 2.14% | |||
Amadeus IT Group | 88,956 | 6,371,409 | |
CaixaBank | 77,099 | 317,133 | |
Cia de Distribucion Integral Logista Holdings | 5,763 | 155,743 | |
Industria de Diseno Textil | 225,563 | 9,818,475 | |
16,662,760 | |||
Sweden − 3.74% | |||
Atlas Copco Class B | 632,498 | 9,368,901 | |
Careium † | 276 | 632 | |
Doro † | 416 | 895 | |
Epiroc Class B | 325,985 | 5,701,316 | |
H & M Hennes & Mauritz Class B | 82,263 | 1,440,533 | |
Instalco | 115 | 466 | |
MIPS | 40,969 | 1,480,580 | |
Paradox Interactive | 4 | 89 | |
SKF Class B | 78,384 | 1,564,408 | |
Volvo Class B | 370,785 | 9,620,658 | |
29,178,478 | |||
Switzerland − 4.85% | |||
ABB | 16,345 | 724,890 | |
Accelleron Industries | 540 | 16,860 | |
Belimo Holding | 1,049 | 578,475 | |
BKW | 7,682 | 1,365,506 | |
Cie Financiere Richemont Class A | 32,688 | 4,498,705 | |
Georg Fischer | 1,074 | 78,023 | |
Kuehne + Nagel International | 3,379 | 1,164,300 | |
Logitech International | 23,674 | 2,245,096 | |
Nestle | 64,487 | 7,476,520 | |
Novartis | 39,682 | 4,004,294 | |
Partners Group Holding | 2,177 | 3,139,767 | |
Roche Holding | 13,000 | 3,779,205 | |
Sandoz Group † | 7,936 | 255,334 | |
Schindler Holding | 9,801 | 2,450,687 | |
Swatch Group | 6,332 | 1,721,057 | |
UBS Group † | 73,402 | 2,277,858 | |
Wizz Air Holdings † | 46,523 | 1,311,135 | |
Zehnder Group | 11,237 | 714,796 | |
37,802,508 | |||
Taiwan − 6.50% | |||
Acer | 1,653,000 | 2,897,685 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Taiwan (continued) | |||
Alpha Networks | 67,000 | $ 82,412 | |
Anpec Electronics | 5,000 | 36,086 | |
Arcadyan Technology | 224,000 | 1,244,424 | |
Asustek Computer | 382,000 | 6,092,732 | |
Azurewave Technologies † | 42,000 | 65,825 | |
C Sun Manufacturing | 23,987 | 48,458 | |
Chicony Electronics | 63,000 | 359,232 | |
ChipMOS Technologies | 1,229,000 | 1,691,900 | |
Compal Electronics | 235,000 | 305,135 | |
D-Link | 137,000 | 89,055 | |
Dynamic Holding | 22,000 | 62,006 | |
Elan Microelectronics | 46,000 | 243,561 | |
Elitegroup Computer Systems | 202,000 | 207,328 | |
Emerging Display Technologies | 41,000 | 40,345 | |
Ennoconn | 156,000 | 1,362,246 | |
Evergreen Marine Taiwan | 522,000 | 2,440,723 | |
Everlight Electronics | 59,000 | 96,121 | |
FocalTech Systems † | 86,000 | 315,244 | |
Getac Holdings | 126,000 | 455,711 | |
Group Up Industrial | 31,000 | 155,553 | |
Hannstar Board | 295,000 | 531,549 | |
Hon Hai Precision Industry | 186,000 | 633,323 | |
International Games System | 15,000 | 353,855 | |
ITE Technology | 136,000 | 666,916 | |
Keystone Microtech | 7,000 | 71,162 | |
King's Town Bank | 80,000 | 104,136 | |
L&K Engineering | 234,000 | 1,296,167 | |
M31 Technology | 1,000 | 34,538 | |
Machvision | 5,400 | 38,445 | |
MediaTek | 66,000 | 2,182,760 | |
Micro-Star International | 395,000 | 2,625,568 | |
Nan Pao Resins Chemical | 21,000 | 192,274 | |
Novatek Microelectronics | 211,000 | 3,554,422 | |
Orient Semiconductor Electronics | 98,000 | 174,028 | |
Pegatron | 251,000 | 713,977 | |
Phison Electronics | 12,000 | 203,320 | |
Pixart Imaging | 26,000 | 130,464 | |
Pou Chen | 327,000 | 329,232 | |
Radiant Opto-Electronics | 11,000 | 47,669 | |
Realtek Semiconductor | 164,000 | 2,519,542 | |
Sea Sonic Electronics | 39,000 | 125,550 | |
Sercomm | 183,000 | 801,991 | |
Silicon Motion Technology ADR | 2,181 | 133,630 | |
Sitronix Technology | 20,000 | 181,164 | |
Sonix Technology | 20,000 | 37,406 | |
Sunplus Innovation Technology | 9,000 | 57,477 | |
Systex | 5,000 | 18,247 | |
Taiwan Semiconductor Manufacturing | 742,000 | 14,336,879 | |
Thermaltake Technology | 83,000 | 121,158 |
8 NQ- OPTIE [1223] 0224 (3376036)
(Unaudited)
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
Taiwan (continued) | |||
Unitech Computer | 25,000 | $ 28,022 | |
Ventec International Group | 36,000 | 105,805 | |
Weblink International | 25,000 | 46,187 | |
50,688,645 | |||
Thailand − 1.24% | |||
Advanced Information Technology NVDR | 276,200 | 30,588 | |
Bangkok Bank NVDR | 1,181,000 | 5,410,127 | |
Banpu NVDR | 340,900 | 67,764 | |
Ichitan Group NVDR | 436,500 | 200,416 | |
Krung Thai Bank NVDR | 2,359,630 | 1,270,579 | |
MK Restaurants Group NVDR | 37,000 | 43,064 | |
PTT Exploration & Production NVDR | 522,200 | 2,274,699 | |
PTT NVDR | 195,100 | 203,963 | |
Somboon Advance Technology NVDR | 71,300 | 37,799 | |
Susco NVDR | 424,000 | 58,080 | |
TTW NVDR | 215,800 | 57,806 | |
9,654,885 | |||
Turkey − 0.09% | |||
Akbank | 110,974 | 137,528 | |
Migros Ticaret | 44,670 | 507,807 | |
Turkiye Petrol Rafinerileri | 15,890 | 77,108 | |
722,443 | |||
Ukraine − 0.09% | |||
Ferrexpo † | 625,496 | 719,553 | |
719,553 | |||
United Arab Emirates − 0.86% | |||
Air Arabia PJSC | 557,555 | 428,100 | |
Emaar Properties PJSC | 2,080,589 | 4,486,628 | |
Emirates NBD Bank PJSC | 379,019 | 1,785,319 | |
6,700,047 | |||
United Kingdom − 2.64% | |||
AJ Bell | 5,283 | 21,077 | |
Bloomsbury Publishing | 7,978 | 47,795 | |
BP ADR | 242,329 | 8,578,447 | |
Bytes Technology Group | 7,158 | 55,838 | |
Centrica | 3,081,959 | 5,525,321 | |
Costain Group | 9,855 | 7,964 | |
Gamma Communications | 14,726 | 211,356 | |
Gem Diamonds † | 5,047 | 854 | |
Greggs | 19 | 630 | |
International Consolidated Airlines Group † | 507,458 | 1,002,589 | |
Investec | 312,725 | 2,153,217 | |
Man Group | 52,906 | 156,858 |
Number of shares | Value (US $) | ||
Common StocksΔ (continued) | |||
United Kingdom (continued) | |||
Oxford Nanopore Technologies † | 493,170 | $ 1,308,785 | |
Polar Capital Holdings | 20,918 | 124,250 | |
RELX | 5,351 | 212,122 | |
Sage Group | 79,277 | 1,184,816 | |
20,591,919 | |||
United States − 3.74% | |||
Atlassian Class A † | 9,339 | 2,221,375 | |
CyberArk Software † | 13,527 | 2,963,089 | |
James Hardie Industries CDI † | 178,082 | 6,855,286 | |
Monday.com † | 12,099 | 2,272,313 | |
Spotify Technology † | 41,754 | 7,845,994 | |
Stellantis | 295,657 | 6,903,160 | |
Viemed Healthcare † | 6,348 | 49,832 | |
29,111,049 | |||
Total Common Stocks (cost $733,505,941) | 767,124,185 | ||
Preferred Stocks – 0.42%Δ | |||
Brazil − 0.41% | |||
Petroleo Brasileiro 8.19% ω | 417,200 | 3,198,396 | |
3,198,396 | |||
Germany − 0.01% | |||
FUCHS 2.77% ω | 1,821 | 81,015 | |
Villeroy & Boch 5.35% ω | 548 | 10,829 | |
91,844 | |||
Total Preferred Stocks (cost $2,634,494) | 3,290,240 | ||
Exchange-Traded Funds – 0.26% | |||
iShares MSCI Canada ETF | 3,952 | 144,959 | |
iShares MSCI EAFE ETF | 16,678 | 1,256,687 | |
iShares MSCI Emerging Markets ETF | 15,689 | 630,855 | |
Total Exchange-Traded Funds (cost $2,006,753) | 2,032,501 |
Warrants – 0.00% | |||
Canada − 0.00% | |||
Constellation Software =, † | 2,870 | 0 | |
Total Warrants (cost $0) | 0 |
NQ- OPTIE [1223] 0224 (3376036) 9
Schedule of investments
Optimum International Fund (Unaudited)
Number ofshares | Value (US $) | ||
Short-Term Investments – 0.17% | |||
Money Market Mutual Funds – 0.17% | |||
BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 5.26%) | 318,558 | $ 318,558 | |
Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 5.25%) | 318,558 | 318,558 | |
Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 5.37%) | 318,558 | 318,558 | |
Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 5.27%) | 318,558 | 318,558 | |
Total Short-Term Investments (cost $1,274,231) | 1,274,232 | ||
Total Value of Securities−99.26% (cost $739,421,419) | 773,721,158 | ||
Receivables and Other Assets Net of Liabilities — 0.74% | 5,794,636 |
Net Assets Applicable to 65,593,151 Shares Outstanding — 100.00% | $779,515,794 |
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. |
π | Restricted security. These investments are in securities not registered under the Securities Act of 1933, as amended, and have certain restrictions on resale which may limit their liquidity. At December 31, 2023, the aggregate value of restricted securities was $126,143, which represented 0.02% of the Fund’s net assets. |
ω | Perpetual security with no stated maturity date. |
Restricted Securities | ||||||
Investments | Date of Acquisition | Cost | Value | |||
Acevector Limited | 5/7/14 | $999,482 | $94,774 | |||
Acevector Limited Series G | 10/29/14 | 396,443 | 31,369 | |||
Total | $1,395,925 | $126,143 |
Summary of abbreviations: |
ADR – American Depositary Receipt |
CDI – CHESS Depositary Interest |
CVA – Certified Dutch Certificate |
EAFE – Europe, Australasia, and Far East |
ETF – Exchange-Traded Fund |
MSCI – Morgan Stanley Capital International |
NVDR – Non-Voting Depositary Receipt |
PJSC – Private Joint Stock Company |
10 NQ- OPTIE [1223] 0224 (3376036)