AGF Investments Trust
AGF Global Sustainable Growth Equity Fund
Schedule of Investments
March 31, 2020 (Unaudited)
| Investments | Shares | Value ($) | ||||||
| COMMON STOCKS - 99.7% | ||||||||
| Auto Components - 2.4% | ||||||||
| Aptiv plc | 474 | 23,340 | ||||||
| Banks - 1.9% | ||||||||
| ING Groep NV | 3,397 | 17,794 | ||||||
| Building Products - 8.5% | ||||||||
| Geberit AG (Registered) | 24 | 10,588 | ||||||
| Kingspan Group plc | 475 | 25,433 | ||||||
| Nibe Industrier AB, Class B | 1,035 | 15,070 | ||||||
| Trex Co., Inc.* | 380 | 30,453 | ||||||
| 81,544 | ||||||||
| Capital Markets - 1.2% | ||||||||
| MSCI, Inc. | 40 | 11,558 | ||||||
| Chemicals - 10.1% | ||||||||
| Albemarle Corp. | 237 | 13,360 | ||||||
| Chr Hansen Holding A/S | 149 | 11,180 | ||||||
| Croda International plc | 373 | 19,726 | ||||||
| Ecolab, Inc. | 227 | 35,373 | ||||||
| Johnson Matthey plc | 308 | 6,845 | ||||||
| Umicore SA | 281 | 9,826 | ||||||
| 96,310 | ||||||||
| Commercial Services & Supplies - 7.4% | ||||||||
| Tetra Tech, Inc. | 365 | 25,776 | ||||||
| TOMRA Systems ASA | 594 | 16,623 | ||||||
| Waste Connections, Inc. | 367 | 28,443 | ||||||
| 70,842 | ||||||||
| Containers & Packaging - 0.9% | ||||||||
| Ball Corp. | 130 | 8,406 | ||||||
| Electric Utilities - 0.5% | ||||||||
| Orsted A/S | 51 | 5,009 | ||||||
| Electrical Equipment - 5.4% | ||||||||
| Legrand SA | 350 | 22,491 | ||||||
| Prysmian SpA | 1,236 | 19,794 | ||||||
| Siemens Gamesa Renewable Energy SA | 629 | 9,464 | ||||||
| 51,749 | ||||||||
| Electronic Equipment, Instruments & Components - 14.1% | ||||||||
| Amphenol Corp., Class A | 131 | 9,547 | ||||||
| Halma plc | 1,475 | 35,044 | ||||||
| Hexagon AB, Class B | 285 | 12,156 | ||||||
| Keyence Corp. | 130 | 41,953 | ||||||
| Samsung SDI Co. Ltd. | 99 | 19,343 | ||||||
| Trimble, Inc.* | 543 | 17,284 | ||||||
| 135,327 | ||||||||
| Equity Real Estate Investment Trusts (REITs) - 5.9% | ||||||||
| Equinix, Inc. | 61 | 38,099 | ||||||
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 884 | 18,042 | ||||||
| 56,141 | ||||||||
| Food Products - 4.3% | ||||||||
| Beyond Meat, Inc.* | 63 | 4,196 | ||||||
| Kerry Group plc, Class A | 324 | 37,144 | ||||||
| 41,340 | ||||||||
| Health Care Equipment & Supplies - 8.8% | ||||||||
| Asahi Intecc Co. Ltd. | 890 | 22,032 | ||||||
| Danaher Corp. | 294 | 40,692 | ||||||
| Medtronic plc | 238 | 21,463 | ||||||
| 84,187 | ||||||||
| Industrial Conglomerates - 2.6% | ||||||||
| Roper Technologies, Inc. | 80 | 24,945 | ||||||
| Leisure Products - 2.1% | ||||||||
| Shimano, Inc. | 138 | 19,765 | ||||||
| Life Sciences Tools & Services - 4.0% | ||||||||
| Thermo Fisher Scientific, Inc. | 134 | 38,002 | ||||||
| Machinery - 5.5% | ||||||||
| Cummins, Inc. | 156 | 21,110 | ||||||
| NFI Group, Inc. | 990 | 10,594 | ||||||
| Xylem, Inc. | 330 | 21,493 | ||||||
| 53,197 | ||||||||
| Professional Services - 1.1% | ||||||||
| Stantec, Inc. | 399 | 10,207 | ||||||
| Semiconductors & Semiconductor Equipment - 3.4% | ||||||||
| Analog Devices, Inc. | 154 | 13,806 | ||||||
| Cree, Inc.* | 172 | 6,099 | ||||||
| Infineon Technologies AG | 835 | 12,507 | ||||||
| 32,412 | ||||||||
| Software - 7.2% | ||||||||
| ANSYS, Inc.* | 110 | 25,572 | ||||||
| Dassault Systemes SE | 260 | 38,557 | ||||||
| Zoom Video Communications, Inc., Class A* | 34 | 4,968 | ||||||
| 69,097 | ||||||||
| Water Utilities - 2.4% | ||||||||
| American Water Works Co., Inc. | 190 | 22,716 | ||||||
| TOTAL COMMON STOCKS (Cost $970,110) | 953,888 | |||||||
AGF Investments Trust
AGF Global Sustainable Growth Equity Fund
Schedule of Investments
March 31, 2020 (Unaudited)
| Investments | Shares | Value ($) | ||||||
| MASTER LIMITED PARTNERSHIPS - 2.2% | ||||||||
| Independent Power and Renewable Electricity Producers - 2.2% | ||||||||
| Brookfield Renewable Partners LP (Cost $16,712) | 502 | 21,114 | ||||||
| Total Investments - 101.9% (Cost $986,822) | 975,002 | |||||||
| Liabilities in excess of other assets - (1.9%) | (17,895) | |||||||
| Net Assets - 100.0% | 957,107 | |||||||
| * | Non-income producing security. |
AGF Global Sustainable Growth Equity Fund invested, as a percentage of net assets, in the following countries as of March 31, 2020:
| Belgium | 1.0 | % | ||
| Canada | 4.4 | % | ||
| Denmark | 1.7 | % | ||
| France | 6.4 | % | ||
| Germany | 1.3 | % | ||
| Ireland | 6.5 | % | ||
| Italy | 2.1 | % | ||
| Japan | 8.8 | % | ||
| Netherlands | 1.9 | % | ||
| Norway | 1.7 | % | ||
| South Korea | 2.0 | % | ||
| Spain | 1.0 | % | ||
| Sweden | 2.9 | % | ||
| Switzerland | 1.1 | % | ||
| United Kingdom | 6.4 | % | ||
| United States | 52.7 | % | ||
| Other(1) | (1.9 | %) | ||
| 100.0 | % |
| (1) | Includes any non-equity securities and net other assets (liabilities). |
AGF Investments Trust
AGF Emerging Markets Equity Fund
Schedule of Investments
March 31, 2020 (Unaudited)
| Investments | Shares | Value ($) | ||||||
| COMMON STOCKS - 93.3% | ||||||||
| Aerospace & Defense - 0.6% | ||||||||
| Singapore Technologies Engineering Ltd. | 1,600 | 3,515 | ||||||
| Banks - 13.7% | ||||||||
| Axis Bank Ltd., GDR | 231 | 5,822 | ||||||
| Banco Bradesco SA (Preference) | 1,900 | 7,595 | ||||||
| Bank Mandiri Persero Tbk. PT | 13,700 | 3,918 | ||||||
| Bank of the Philippine Islands | 3,850 | 4,637 | ||||||
| Credicorp Ltd. | 32 | 4,578 | ||||||
| DBS Group Holdings Ltd. | 400 | 5,230 | ||||||
| Grupo Financiero Banorte SAB de CV, Class O | 600 | 1,644 | ||||||
| Industrial & Commercial Bank of China Ltd., Class H | 25,000 | 17,058 | ||||||
| Komercni banka A/S* | 358 | 6,798 | ||||||
| Powszechna Kasa Oszczednosci Bank Polski SA | 694 | 3,787 | ||||||
| Sberbank of Russia PJSC, ADR | 395 | 3,713 | ||||||
| Shinhan Financial Group Co. Ltd., ADR | 396 | 9,231 | ||||||
| 74,011 | ||||||||
| Beverages - 2.1% | ||||||||
| Budweiser Brewing Co. APAC Ltd.* | 800 | 2,055 | ||||||
| Coca-Cola HBC AG | 265 | 5,696 | ||||||
| Fomento Economico Mexicano SAB de CV, ADR | 57 | 3,449 | ||||||
| 11,200 | ||||||||
| Construction & Engineering - 1.6% | ||||||||
| Larsen & Toubro Ltd., GDR | 801 | 8,603 | ||||||
| Diversified Consumer Services - 0.3% | ||||||||
| YDUQS Part | 400 | 1,707 | ||||||
| Diversified Financial Services - 0.9% | ||||||||
| FirstRand Ltd. | 2,185 | 4,909 | ||||||
| Diversified Telecommunication Services - 2.5% | ||||||||
| Hellenic Telecommunications Organization SA | 771 | 9,366 | ||||||
| Telekomunikasi Indonesia Persero Tbk. PT | 21,300 | 4,117 | ||||||
| 13,483 | ||||||||
| Electrical Equipment - 2.5% | ||||||||
| Zhuzhou CRRC Times Electric Co. Ltd., Class H | 4,700 | 13,863 | ||||||
| Electronic Equipment, Instruments & Components - 3.1% | ||||||||
| Delta Electronics, Inc. | 2,140 | 8,529 | ||||||
| Samsung Electro-Mechanics Co. Ltd. | 98 | 7,738 | ||||||
| 16,267 | ||||||||
| Energy Equipment & Services - 0.9% | ||||||||
| Tenaris SA, ADR | 414 | 4,989 | ||||||
| Food & Staples Retailing - 2.3% | ||||||||
| Atacadao SA* | 1,922 | 7,631 | ||||||
| Wal-Mart de Mexico SAB de CV | 2,000 | 4,700 | ||||||
| 12,331 | ||||||||
| Health Care Providers & Services - 1.0% | ||||||||
| Sinopharm Group Co. Ltd., Class H | 2,541 | 5,690 | ||||||
| Household Durables - 1.5% | ||||||||
| Haier Electronics Group Co. Ltd. | 3,000 | 7,932 | ||||||
| Insurance - 6.2% | ||||||||
| AIA Group Ltd. | 1,868 | 16,805 | ||||||
| Ping An Insurance Group Co. of China Ltd., Class H | 1,252 | 12,247 | ||||||
| Porto Seguro SA | 500 | 4,322 | ||||||
| 33,374 | ||||||||
| Interactive Media & Services - 8.3% | ||||||||
| Tencent Holdings Ltd. | 920 | 44,861 | ||||||
| Internet & Direct Marketing Retail - 11.8% | ||||||||
| Alibaba Group Holding Ltd., ADR* | 243 | 47,259 | ||||||
| Naspers Ltd., Class N | 85 | 12,076 | ||||||
| Trip.com Group Ltd., ADR* | 209 | 4,901 | ||||||
| 64,236 | ||||||||
| Machinery - 3.8% | ||||||||
| Airtac International Group | 956 | 14,016 | ||||||
| Weichai Power Co. Ltd., Class H | 4,000 | 6,402 | ||||||
| 20,418 | ||||||||
| Metals & Mining - 2.7% | ||||||||
| Gerdau SA (Preference) | 2,763 | 5,344 | ||||||
| Southern Copper Corp. | 247 | 6,956 | ||||||
| Vale SA* | 300 | 2,495 | ||||||
| 14,795 | ||||||||
| Multiline Retail - 0.9% | ||||||||
| Lojas Americanas SA (Preference)* | 1,400 | 4,850 | ||||||
| Oil, Gas & Consumable Fuels - 4.6% | ||||||||
| CNOOC Ltd. | 5,000 | 5,213 | ||||||
| Lukoil PJSC, ADR | 88 | 5,245 | ||||||
| Reliance Industries Ltd., GDR | 344 | 10,547 | ||||||
| Tupras Turkiye Petrol Rafinerileri A/S* | 351 | 3,950 | ||||||
| 24,955 | ||||||||
| Paper & Forest Products - 1.1% | ||||||||
| Mondi plc | 343 | 5,851 | ||||||
AGF Investments Trust
AGF Emerging Markets Equity Fund
Schedule of Investments
March 31, 2020 (Unaudited)
| Investments | Shares | Value ($) | ||||||
| Pharmaceuticals - 1.4% | ||||||||
| Richter Gedeon Nyrt. | 392 | 7,394 | ||||||
| Real Estate Management & Development - 4.8% | ||||||||
| China Overseas Land & Investment Ltd. | 5,377 | 16,593 | ||||||
| China Vanke Co. Ltd., Class H | 2,800 | 9,171 | ||||||
| 25,764 | ||||||||
| Road & Rail - 0.5% | ||||||||
| Localiza Rent a Car SA* | 500 | 2,531 | ||||||
| Semiconductors & Semiconductor Equipment - 5.8% | ||||||||
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 659 | 31,494 | ||||||
| Software - 1.0% | ||||||||
| TOTVS SA* | 600 | 5,390 | ||||||
| Specialty Retail - 0.5% | ||||||||
| Foschini Group Ltd. (The) | 646 | 2,439 | ||||||
| Technology Hardware, Storage & Peripherals - 5.1% | ||||||||
| Samsung Electronics Co. Ltd., GDR | 28 | 27,650 | ||||||
| Textiles, Apparel & Luxury Goods - 1.1% | ||||||||
| Eclat Textile Co. Ltd. | 786 | 6,252 | ||||||
| Wireless Telecommunication Services - 0.7% | ||||||||
| Turkcell Iletisim Hizmetleri A/S | 1,954 | 3,649 | ||||||
| TOTAL COMMON STOCKS (Cost $693,410) | 504,403 | |||||||
| EXCHANGE TRADED FUNDS - 4.1% | ||||||||
| iShares MSCI India ETF | ||||||||
| (Cost $32,703) | 930 | 22,422 | ||||||
| Investments | Number of Warrants | Value ($) | ||||||
| WARRANTS - 1.8% | ||||||||
| Capital Markets - 1.8% | ||||||||
| Merrill Lynch International & Co. CV, expiring 11/20/2020* | ||||||||
| (Cost $9,463) | 63 | 9,868 | ||||||
| Total Investments - 99.2% (Cost $735,576) | 536,693 | |||||||
| Other Assets Less Liabilities - 0.8% | 4,105 | |||||||
| Net Assets - 100.0% | 540,798 | |||||||
| * | Non-income producing security. |
| Abbreviations | |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| PJSC | Public Joint Stock Company |
| Preference | A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference. |
AGF Investments Trust
AGF Emerging Markets Equity Fund
Schedule of Investments
March 31, 2020 (Unaudited)
AGF Emerging Markets Equity Fund invested, as a percentage of net assets, in the following countries as of March 31, 2020:
| Brazil | 7.7 | % | ||
| China | 35.7 | % | ||
| Czech Republic | 1.3 | % | ||
| Greece | 1.7 | % | ||
| Hong Kong | 3.1 | % | ||
| Hungary | 1.4 | % | ||
| India | 4.6 | % | ||
| Indonesia | 1.5 | % | ||
| Luxembourg | 0.9 | % | ||
| Mexico | 1.8 | % | ||
| Peru | 2.1 | % | ||
| Philippines | 0.9 | % | ||
| Poland | 0.7 | % | ||
| Russia | 1.7 | % | ||
| Singapore | 1.6 | % | ||
| South Africa | 3.6 | % | ||
| South Korea | 8.3 | % | ||
| Switzerland | 1.1 | % | ||
| Taiwan | 11.1 | % | ||
| Turkey | 1.4 | % | ||
| United Kingdom | 1.1 | % | ||
| United States | 5.9 | % | ||
| Other(1) | 0.8 | % | ||
| 100.0 | % |
| (1) | Includes any non-equity securities and net other assets (liabilities). |