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Hood River International Opportunity Fund | ||||||||
Schedule of Investments | ||||||||
as of March 31, 2024 (Unaudited) | ||||||||
COMMON STOCKS - 88.6% | Shares | Value | ||||||
COMMUNICATION SERVICES - 1.2% | ||||||||
Diversified Telecommunication Services - 0.5% | ||||||||
Infrastrutture Wireless Italiane SpA | 3,400 | 38,583 | ||||||
$ | – | |||||||
Interactive Media & Services - 0.7% | ||||||||
Baltic Classifieds Group PLC | 19,458 | 55,173 | ||||||
TOTAL COMMUNICATION SERVICES | 93,756 | |||||||
CONSUMER DESCRETIONARY - 9.0% | ||||||||
Automobile Components - 3.1% | ||||||||
Aisan Industry Co. Ltd. | 3,400 | 37,971 | ||||||
MRF Ltd. | 68 | 108,836 | ||||||
Nifco, Inc. | 2,100 | 52,841 | ||||||
Toyoda Gosei Co. Ltd. | 1,700 | 37,495 | ||||||
237,143 | ||||||||
Hotels, Restaurants & Leisure - 4.8% | ||||||||
Basic-Fit NV(a) | 1,688 | 37,650 | ||||||
Despegar.com Corp.(a) | 8,450 | 101,062 | ||||||
eDreams ODIGEO SA(a) | 13,057 | 95,004 | ||||||
Genius Sports Ltd.(a) | 4,190 | 23,925 | ||||||
HomeToGo SE(a) | 29,000 | 65,946 | ||||||
Inspired Entertainment, Inc.(a) | 3,106 | 30,625 | ||||||
354,212 | ||||||||
Textiles, Apparel & Luxury Goo - 0.4% | ||||||||
Vaibhav Global Ltd.(a) | 6,900 | 30,230 | ||||||
$ | – | |||||||
Textiles, Apparel & Luxury Goods - 0.7% | ||||||||
Amer Sports, Inc.(a) | 3,358 | 54,735 | ||||||
TOTAL CONSUMER DESCRETIONARY | 676,320 | |||||||
CONSUMER STAPLES - 2.0% | ||||||||
Consumer Staples Distribution & Retail - 1.1% | ||||||||
BBB Foods, Inc. - Class A(a) | 2,269 | 53,957 | ||||||
DocMorris AG(a) | 300 | 30,037 | ||||||
83,994 | ||||||||
Household Products - 0.9% | ||||||||
Jyothy Labs Ltd. | 13,299 | 70,358 | ||||||
TOTAL CONSUMER STAPLES | 154,352 | |||||||
ENERGY - 5.3% | ||||||||
Energy Equipment & Services - 1.1% | ||||||||
Vallourec SA(a) | 4,300 | 79,871 | ||||||
$ | – | |||||||
Oil, Gas & Consumable Fuels - 4.2% | ||||||||
Denison Mines Corp.(a) | 43,500 | 84,825 | ||||||
Great Eastern Shipping Co. Ltd. | 8,800 | 105,834 | ||||||
NexGen Energy Ltd.(a) | 16,244 | 126,216 | ||||||
316,875 | ||||||||
TOTAL ENERGY | 396,746 | |||||||
FINANCIALS - 12.5% | ||||||||
Banks - 1.1% | ||||||||
Sumitomo Mitsui Trust Holdings, Inc. | 3,800 | 81,877 | ||||||
$ | – | |||||||
Capital Markets - 1.6% | ||||||||
Banco BTG Pactual SA | 16,600 | 120,907 | ||||||
$ | – | |||||||
Consumer Finance - 5.5% | ||||||||
Kaspi.KZ JSC - ADR | 2,200 | 283,008 | ||||||
Sundaram Finance Ltd. | 2,496 | 124,125 | ||||||
407,133 | ||||||||
Financial Services - 1.6% | ||||||||
Payfare, Inc.(a) | 23,800 | 122,290 | ||||||
$ | – | |||||||
Insurance - 2.7% | ||||||||
Just Group PLC | 81,000 | 107,466 | ||||||
Revo Insurance SpA(a) | 9,900 | 96,767 | ||||||
204,233 | ||||||||
TOTAL FINANCIALS | 936,440 | |||||||
HEALTH CARE - 3.5% | ||||||||
Biotechnology - 0.7% | ||||||||
Exscientia PLC - ADR(a) | 2,000 | 11,440 | ||||||
MDxHealth SA(a) | 16,925 | 43,836 | ||||||
55,276 | ||||||||
Health Care Equipment & Supplies - 1.7% | ||||||||
Implantica AG(a) | 43,000 | 125,738 | ||||||
$ | – | |||||||
Health Care Technology - 0.8% | ||||||||
Augmedix, Inc.(a) | 14,183 | 58,009 | ||||||
$ | – | |||||||
Pharmaceuticals - 0.3% | ||||||||
Verona Pharma PLC - ADR(a) | 1,416 | 22,783 | ||||||
TOTAL HEALTHCARE | 261,806 | |||||||
INDUSTRIALS - 26.4% | ||||||||
Aerospace & Defense - 1.9% | ||||||||
Bharat Electronics Ltd. | 27,200 | 65,878 | ||||||
Hindustan Aeronautics Ltd. | 1,800 | 72,030 | ||||||
137,908 | ||||||||
Building Products - 1.7% | ||||||||
Munters Group AB | 7,500 | 134,532 | ||||||
$ | – | |||||||
Commercial Services & Supplies - 3.4% | ||||||||
DO & CO AG | 300 | 44,794 | ||||||
GFL Environmental, Inc. | 6,250 | 215,625 | ||||||
260,419 | ||||||||
Construction & Engineering - 2.2% | ||||||||
Ahluwalia Contracts India Ltd. | 4,300 | 52,746 | ||||||
Larsen & Toubro Ltd. | 2,494 | 112,802 | ||||||
165,548 | ||||||||
Electrical Equipment - 4.4% | ||||||||
Amara Raja Energy & Mobility Ltd. | 6,400 | 58,471 | ||||||
Triveni Turbine Ltd. | 17,960 | 116,029 | ||||||
Voltamp Transformers Ltd. | 1,453 | 168,797 | ||||||
343,297 | ||||||||
Ground Transportation - 2.6% | ||||||||
Grupo Traxion SAB de CV(a) | 43,000 | 80,134 | ||||||
TFI International, Inc. | 700 | 111,622 | ||||||
191,756 | ||||||||
Machinery - 4.7% | ||||||||
AIA Engineering Ltd. | 830 | 38,936 | ||||||
Elgi Equipments Ltd. | 5,900 | 42,628 | ||||||
Mitsubishi Heavy Industries Ltd. | 8,000 | 72,507 | ||||||
MTAR Technologies Ltd.(a) | 3,287 | 66,513 | ||||||
Silex Systems Ltd.(a) | 4,000 | 13,369 | ||||||
Thermax Ltd. | 1,100 | 55,453 | ||||||
VAT Group AG | 110 | 56,825 | ||||||
346,231 | ||||||||
Trading Companies & Distributors - 5.5% | ||||||||
FTAI Aviation Ltd. | 1,561 | 105,055 | ||||||
Marubeni Corp. | 18,300 | 316,949 | ||||||
422,004 | ||||||||
TOTAL INDUSTRIALS | 2,001,695 | |||||||
INFORMATION TECHNOLOGY - 22.4% | ||||||||
Electronic Equipment, Instruments & Components - 2.2% | ||||||||
Kaynes Technology India Ltd.(a) | 1,800 | 62,369 | ||||||
Nayax Ltd.(a) | 3,912 | 102,964 | ||||||
165,333 | ||||||||
Semiconductors & Semiconductor Equipment - 11.7% | ||||||||
Alchip Technologies Ltd. | 605 | 59,869 | ||||||
Alphawave IP Group PLC(a) | 85,000 | 187,744 | ||||||
BE Semiconductor Industries NV | 355 | 54,347 | ||||||
Camtek Ltd.(a) | 1,570 | 131,519 | ||||||
Kokusai Electric Corp. | 1,700 | 43,642 | ||||||
Micronics Japan Co. Ltd. | 2,000 | 109,766 | ||||||
Renesas Electronics Corp. | 3,900 | 69,501 | ||||||
Shibaura Mechatronics Corp. | 1,800 | 76,317 | ||||||
SPEL Semiconductor Ltd.(a) | 33,500 | 50,463 | ||||||
Technoprobe SpA(a) | 5,700 | 51,744 | ||||||
WONIK IPS Co. Ltd.(a) | 2,000 | 54,225 | ||||||
889,137 | ||||||||
Software - 5.9% | ||||||||
Darktrace PLC(a) | 10,500 | 57,956 | ||||||
NICE Ltd. - ADR(a) | 440 | 114,673 | ||||||
Opera Ltd. - ADR | 3,180 | 50,276 | ||||||
Pagaya Technologies Ltd. - Class A(a) | 7,526 | 76,009 | ||||||
Sylogist Ltd. | 7,000 | 44,856 | ||||||
Tata Elxsi Ltd. | 500 | 46,781 | ||||||
Zoo Digital Group PLC(a) | 121,000 | 54,063 | ||||||
444,614 | ||||||||
Technology Hardware, Storage & Peripherals - 2.6% | ||||||||
Asia Vital Components Co. Ltd. | 3,800 | 64,359 | ||||||
Wistron Corp. | 33,000 | 124,313 | ||||||
188,672 | ||||||||
TOTAL INFORMATION TECHNOLOGY | 1,687,756 | |||||||
MATERIALS - 2.8% | ||||||||
Metals & Mining - 2.8% | ||||||||
Ferroglobe PLC | 14,725 | 73,331 | ||||||
Pilbara Minerals Ltd. | 27,000 | 67,377 | ||||||
Ratnamani Metals & Tubes Ltd. | 2,031 | 68,194 | ||||||
208,902 | ||||||||
TOTAL MATERIALS | 208,902 | |||||||
REAL ESTATE - 3.5% | ||||||||
Real Estate Management & Development - 3.5% | ||||||||
Corp. Inmobiliaria Vesta SAB de CV | 24,300 | 95,148 | ||||||
Lavvi Empreendimentos Imobiliarios SA | 35,574 | 67,525 | ||||||
Tosei Corp. | 6,400 | 101,479 | ||||||
264,152 | ||||||||
TOTAL REAL ESTATE | 264,152 | |||||||
TOTAL COMMON STOCKS (Cost $5,691,577) | 6,681,925 | |||||||
REAL ESTATE INVESTMENT TRUSTS (REITs) - 1.5% | Shares | Value | ||||||
Diversified REITs - 0.6% | ||||||||
Fibra Uno Administracion SAB de CV | 29,200 | 48,569 | ||||||
$ | – | |||||||
Industrial REITs - 0.9% | ||||||||
FIBRA Macquarie Mexico | 33,724 | 65,644 | ||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $87,946) | 114,213 | |||||||
MUTUAL FUNDS - 1.3% | Shares | Value | ||||||
Sprott Physical Uranium Trust(a) | 4,643 | 95,785 | ||||||
TOTAL MUTUAL FUNDS (Cost $58,413) | 95,785 | |||||||
SHORT-TERM INVESTMENTS - 9.4% | ||||||||
Money Market Funds - 9.4% | Shares | |||||||
First American Treasury Obligations Fund - Class X, 5.29%(b) | 704,563 | 704,563 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $704,563) | 704,563 | |||||||
TOTAL INVESTMENTS - 100.8% (Cost $6,542,499) | $ | 7,596,486 | ||||||
Liabilities in Excess of Other Assets - (0.8)% | (63,244 | ) | ||||||
TOTAL NET ASSETS - 100.0% | $ | 7,533,242 | ||||||
Percentages are stated as a percent of net assets. |
SpA – Societa per azioni PLC - Public Limited Company NV - Naamloze Vennootschap SA - Sociedad Anónima SE – Sociedad del Estado AG – Aktiengesellschaft ADR - American Depositary Receipt |
SAB de CV - Sociedad Anónima Bursátil de Capital Variable |
ASA – Allmennaksjeselskap |
AB – Publikt Aktiebolag |
REIT – Real Estate Investmnet Trust
(a) | Non-income producing security. |
(b) | The rate shown represents the 7-day effective yield as of March 31, 2024. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services. |
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Summary of Fair Value Measurements at March 31, 2024 (Unaudited) | ||||||||
The Fund has adopted fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, | ||||||||
a discussion of changes in valuation techniques and related inputs during the period, and expanded | ||||||||
disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below: |
Level 1 - | Unadjusted, quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access at the date of measurement. | ||||||||||
Level 2 - | Other significant observable inputs (including, but not limited to, quoted prices in active markets for similar instruments, quoted prices in markets that are not active for identical or similar instruments | ||||||||||
model-derived valuations in which all | |||||||||||
significant inputs and significant value drivers are observable in active markets, such as interest rates, prepayment speeds, credit risk curves, default rates, and similar data). | |||||||||||
Level 3 - | Significant unobservable inputs for the asset or liability, to the extent relevant observable inputs, are not available, are representing the Fund's own assumptions about the assumptions a market | ||||||||||
participant would use in valuing the asset or liability, and would be based on the best information available. |
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the fair valuation hierarchy of the Fund's | |||||||||||
securities as of March 31, 2024: |
Hood River International Opportunity Fund | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Common Stocks | 2,848,750 | 3,833,175 | – | 6,681,925 | ||||||||||||
Real Estate Investment Trusts | – | 114,213 | – | 114,213 | ||||||||||||
Mutual funds | 95,785 | – | – | 95,785 | ||||||||||||
Money Market Funds | 704,563 | – | – | 704,563 | ||||||||||||
Total Assets | 3,649,098 | 3,947,388 | – | 7,596,486 | ||||||||||||
Refer to the Schedule of Investments for industry classifications. |