AGF Investments Trust
AGF Emerging Markets Equity Fund
Schedule of Investments
September 30, 2020 (Unaudited)
Investments | Shares | Value ($) | ||||||
COMMON STOCKS - 94.9% | ||||||||
Aerospace & Defense - 1.1% | ||||||||
Singapore Technologies Engineering Ltd. | 2,900 | 7,351 | ||||||
Banks - 11.1% | ||||||||
Axis Bank Ltd., GDR* | 231 | 6,791 | ||||||
Banco Bradesco SA (Preference) | 2,090 | 7,224 | ||||||
Bank Mandiri Persero Tbk. PT | 27,200 | 9,067 | ||||||
Bank of the Philippine Islands | 3,850 | 5,082 | ||||||
Credicorp Ltd. | 32 | 3,968 | ||||||
DBS Group Holdings Ltd. | 400 | 5,834 | ||||||
Grupo Financiero Banorte SAB de CV, Class O* | 600 | 2,079 | ||||||
Industrial & Commercial Bank of China Ltd., Class H | 13,000 | 6,743 | ||||||
Komercni banka A/S* | 358 | 7,539 | ||||||
Powszechna Kasa Oszczednosci Bank Polski SA* | 694 | 3,808 | ||||||
Sberbank of Russia PJSC, ADR* | 554 | 6,465 | ||||||
Shinhan Financial Group Co. Ltd., ADR | 516 | 11,853 | ||||||
76,453 | ||||||||
Beverages - 2.7% | ||||||||
Budweiser Brewing Co. APAC Ltd. | 2,606 | 7,565 | ||||||
Coca-Cola HBC AG | 320 | 7,895 | ||||||
Fomento Economico Mexicano SAB de CV, ADR | 57 | 3,203 | ||||||
18,663 | ||||||||
Construction & Engineering - 2.8% | ||||||||
Larsen & Toubro Ltd., GDR | 1,523 | 18,977 | ||||||
Diversified Consumer Services - 0.3% | ||||||||
YDUQS Participacoes SA | 400 | 1,952 | ||||||
Diversified Financial Services - 1.8% | ||||||||
Chailease Holding Co. Ltd. | 1,622 | 7,337 | ||||||
FirstRand Ltd. | 2,185 | 5,378 | ||||||
12,715 | ||||||||
Diversified Telecommunication Services - 3.0% | ||||||||
Hellenic Telecommunications Organization SA | 940 | 13,567 | ||||||
Telekomunikasi Indonesia Persero Tbk. PT | 42,887 | 7,378 | ||||||
20,945 | ||||||||
Electrical Equipment - 1.8% | ||||||||
Zhuzhou CRRC Times Electric Co. Ltd., Class H | 3,812 | 12,739 | ||||||
Electronic Equipment, Instruments & Components - 3.7% | ||||||||
Delta Electronics, Inc. | 1,715 | 11,192 | ||||||
Samsung Electro-Mechanics Co. Ltd. | 121 | 14,381 | ||||||
25,573 | ||||||||
Energy Equipment & Services - 0.6% | ||||||||
Tenaris SA, ADR | 414 | 4,078 | ||||||
Food & Staples Retailing - 1.4% | ||||||||
Atacadao SA* | 922 | 3,364 | ||||||
Wal-Mart de Mexico SAB de CV | 2,619 | 6,283 | ||||||
9,647 | ||||||||
Health Care Providers & Services - 0.8% | ||||||||
Sinopharm Group Co. Ltd., Class H | 2,541 | 5,331 | ||||||
Hotels, Restaurants & Leisure - 0.9% | ||||||||
Melco Resorts & Entertainment Ltd., ADR | 371 | 6,177 | ||||||
Household Durables - 1.3% | ||||||||
Haier Electronics Group Co. Ltd. | 2,465 | 8,906 | ||||||
Insurance - 5.1% | ||||||||
AIA Group Ltd. | 2,368 | 23,191 | ||||||
Ping An Insurance Group Co. of China Ltd., Class H | 752 | 7,714 | ||||||
Porto Seguro SA | 500 | 4,296 | ||||||
35,201 | ||||||||
Interactive Media & Services - 9.2% | ||||||||
Tencent Holdings Ltd. | 965 | 63,690 | ||||||
Internet & Direct Marketing Retail - 13.4% | ||||||||
Alibaba Group Holding Ltd.* | 2,044 | 72,687 | ||||||
Naspers Ltd., Class N* | 67 | 11,840 | ||||||
Trip.com Group Ltd., ADR* | 242 | 7,536 | ||||||
92,063 | ||||||||
Machinery - 4.0% | ||||||||
Airtac International Group | 615 | 13,824 | ||||||
Weichai Power Co. Ltd., Class H | 6,736 | 13,489 | ||||||
27,313 | ||||||||
Metals & Mining - 2.2% | ||||||||
Gerdau SA (Preference) | 1,132 | 4,193 | ||||||
Southern Copper Corp. | 168 | 7,605 | ||||||
Vale SA | 300 | 3,158 | ||||||
14,956 | ||||||||
Multiline Retail - 0.8% | ||||||||
Lojas Americanas SA (Preference)* | 1,147 | 5,798 | ||||||
Oil, Gas & Consumable Fuels - 5.0% | ||||||||
CNOOC Ltd. | 7,535 | 7,244 | ||||||
Lukoil PJSC, ADR | 216 | 12,502 | ||||||
Reliance Industries Ltd., GDR | 244 | 14,835 | ||||||
34,581 |
AGF Investments Trust
AGF Emerging Markets Equity Fund
Schedule of Investments
September 30, 2020 (Unaudited)
Investments | Shares | Value ($) | ||||||
Paper & Forest Products - 1.1% | ||||||||
Mondi plc | 343 | 7,256 | ||||||
Personal Products - 0.9% | ||||||||
LG Household & Health Care Ltd. | 5 | 6,191 | ||||||
Pharmaceuticals - 1.2% | ||||||||
Richter Gedeon Nyrt. | 392 | 8,282 | ||||||
Real Estate Management & Development - 1.7% | ||||||||
China Overseas Land & Investment Ltd. | 1,293 | 3,237 | ||||||
China Vanke Co. Ltd., Class H | 2,800 | 8,544 | ||||||
11,781 | ||||||||
Semiconductors & Semiconductor Equipment - 7.2% | ||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 613 | 49,696 | ||||||
Software - 1.0% | ||||||||
TOTVS SA | 1,438 | 6,939 | ||||||
Specialty Retail - 1.1% | ||||||||
Foschini Group Ltd. (The) | 1,579 | 7,730 | ||||||
Technology Hardware, Storage & Peripherals - 5.2% | ||||||||
Samsung Electronics Co. Ltd., GDR | 28 | 35,476 | ||||||
Textiles, Apparel & Luxury Goods - 1.4% | ||||||||
Eclat Textile Co. Ltd. | 786 | 9,743 | ||||||
Wireless Telecommunication Services - 1.1% | ||||||||
China Mobile Ltd. | 1,198 | 7,644 | ||||||
TOTAL COMMON STOCKS (Cost $700,276) | 653,847 | |||||||
EXCHANGE TRADED FUND - 4.1% | ||||||||
iShares MSCI India ETF (Cost $28,975) | 824 | 27,901 |
Investments | Shares | Maturity Date | Value ($) | |||||||
PARTICIPATION NOTES - 3.2% | ||||||||||
China | ||||||||||
Anhui Conch Cement Co. Ltd. (Issuer: Bank of America Merrill Lynch) | 839 | 10/29/2020 | 6,807 | |||||||
Kweichow Moutai Co. Ltd. (Issuer: Bank of America Merrill Lynch) | 63 | 11/30/2020 | 15,434 | |||||||
TOTAL PARTICIPATION NOTES (Cost $16,846) | 22,241 | |||||||||
Total Investments - 102.2% (Cost $746,097) | 703,989 | |||||||||
Liabilities in excess of other assets - (2.2%) | (15,177 | ) | ||||||||
Net Assets - 100.0% | 688,812 |
* | Non-income producing security. |
Abbreviations | |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
PJSC | Public Joint Stock Company |
Participation Note | A derivative instrument linked to a financial instrument which usually include equities, market indices, ETFs, interest rates, currencies, or a combination of these. A Participation Note is usually issued by a financial institution, therefore investors are exposed to the issuer’s credit risk and the risks of the underlying financial instrument. |
Preference | A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference. |
AGF Investments Trust
AGF Emerging Markets Equity Fund
Schedule of Investments
September 30, 2020 (Unaudited)
AGF Emerging Markets Equity Fund invested, as a percentage of net assets, in the following countries as of September 30, 2020: | ||||
Brazil | 5.4 | % | ||
China | 35.8 | % | ||
Czech Republic | 1.1 | % | ||
Greece | 2.0 | % | ||
Hong Kong | 4.3 | % | ||
Hungary | 1.2 | % | ||
India | 5.9 | % | ||
Indonesia | 2.4 | % | ||
Mexico | 1.7 | % | ||
Netherlands Antilles | 3.2 | % | ||
Peru | 1.7 | % | ||
Philippines | 0.7 | % | ||
Poland | 0.5 | % | ||
Russia | 2.8 | % | ||
Singapore | 1.9 | % | ||
South Africa | 3.6 | % | ||
South Korea | 9.9 | % | ||
Switzerland | 1.1 | % | ||
Taiwan | 11.3 | % | ||
United Kingdom | 1.1 | % | ||
United States | 4.6 | % | ||
Other(1) | (2.2 | )% | ||
100.0 | % |
(1) | Includes any non-equity securities and net other assets (liabilities). |
AGF Investments Trust
AGF Global Sustainable Growth Equity Fund
Schedule of Investments
September 30, 2020 (Unaudited)
Investments | Shares | Value ($) | ||||||
COMMON STOCKS - 98.6% | ||||||||
Auto Components - 3.1% | ||||||||
Aptiv plc | 445 | 40,798 | ||||||
Banks - 1.0% | ||||||||
ING Groep NV | 1,771 | 12,577 | ||||||
Building Products - 8.6% | ||||||||
Kingspan Group plc | 475 | 43,272 | ||||||
Nibe Industrier AB, Class B* | 1,005 | 25,933 | ||||||
Trex Co., Inc.* | 606 | 43,390 | ||||||
112,595 | ||||||||
Capital Markets - 1.8% | ||||||||
MSCI, Inc. | 65 | 23,191 | ||||||
Chemicals - 9.8% | ||||||||
Albemarle Corp. | 152 | 13,571 | ||||||
Chr Hansen Holding A/S | 176 | 19,563 | ||||||
Croda International plc | 373 | 30,081 | ||||||
Ecolab, Inc. | 203 | 40,568 | ||||||
Johnson Matthey plc | 407 | 12,378 | ||||||
Umicore SA | 281 | 11,712 | ||||||
127,873 | ||||||||
Commercial Services & Supplies - 6.9% | ||||||||
Tetra Tech, Inc. | 429 | 40,969 | ||||||
TOMRA Systems ASA | 453 | 19,528 | ||||||
Waste Connections, Inc. | 287 | 29,791 | ||||||
90,288 | ||||||||
Containers & Packaging - 1.2% | ||||||||
Ball Corp. | 189 | 15,710 | ||||||
Electric Utilities - 1.0% | ||||||||
Orsted A/S | 97 | 13,372 | ||||||
Electrical Equipment - 6.3% | ||||||||
Legrand SA | 293 | 23,422 | ||||||
Prysmian SpA | 1,437 | 41,850 | ||||||
Siemens Gamesa Renewable Energy SA | 638 | 17,272 | ||||||
82,544 | ||||||||
Electronic Equipment, Instruments & Components - 15.5% | ||||||||
Amphenol Corp., Class A | 175 | 18,947 | ||||||
Halma plc | 1,475 | 44,632 | ||||||
Hexagon AB, Class B* | 236 | 17,861 | ||||||
Keyence Corp. | 116 | 53,873 | ||||||
Samsung SDI Co. Ltd. | 99 | 36,696 | ||||||
Trimble, Inc.* | 637 | 31,022 | ||||||
203,031 | ||||||||
Equity Real Estate Investment Trusts (REITs) - 2.6% | ||||||||
Equinix, Inc. | 45 | 34,206 | ||||||
Food Products - 2.9% | ||||||||
Beyond Meat, Inc.* | 77 | 12,786 | ||||||
Kerry Group plc, Class A | 200 | 25,677 | ||||||
38,463 | ||||||||
Health Care Equipment & Supplies - 6.4% | ||||||||
Asahi Intecc Co. Ltd. | 798 | 24,969 | ||||||
Danaher Corp. | 273 | 58,785 | ||||||
83,754 | ||||||||
Independent Power and Renewable Electricity Producers - 0.5% | ||||||||
Brookfield Renewable Corp. | 104 | 6,102 | ||||||
Industrial Conglomerates - 1.8% | ||||||||
Roper Technologies, Inc. | 61 | 24,102 | ||||||
Internet & Direct Marketing Retail - 0.9% | ||||||||
HelloFresh SE* | 200 | 11,157 | ||||||
Leisure Products - 2.9% | ||||||||
Giant Manufacturing Co. Ltd. | 1,221 | 11,488 | ||||||
Shimano, Inc. | 138 | 27,112 | ||||||
38,600 | ||||||||
Life Sciences Tools & Services - 4.1% | ||||||||
Thermo Fisher Scientific, Inc. | 123 | 54,307 | ||||||
Machinery - 4.9% | ||||||||
Cummins, Inc. | 154 | 32,519 | ||||||
NFI Group, Inc. | 990 | 12,312 | ||||||
Xylem, Inc. | 235 | 19,768 | ||||||
64,599 | ||||||||
Mortgage Real Estate Investment Trusts (REITs) - 1.9% | ||||||||
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 603 | 25,489 | ||||||
Professional Services - 0.9% | ||||||||
Stantec, Inc. | 399 | 12,115 | ||||||
Semiconductors & Semiconductor Equipment - 5.6% | ||||||||
Analog Devices, Inc. | 154 | 17,978 | ||||||
Cree, Inc.* | 208 | 13,258 | ||||||
Enphase Energy, Inc.* | 170 | 14,040 | ||||||
Infineon Technologies AG | 991 | 28,019 | ||||||
73,295 | ||||||||
Software - 6.3% | ||||||||
ANSYS, Inc.* | 82 | 26,833 | ||||||
Dassault Systemes SE | 209 | 39,145 | ||||||
Zoom Video Communications, Inc., Class A* | 35 | 16,454 | ||||||
82,432 | ||||||||
Water Utilities - 1.7% | ||||||||
American Water Works Co., Inc. | 152 | 22,022 | ||||||
TOTAL COMMON STOCKS (Cost $887,567) | 1,292,622 |
AGF Investments Trust
AGF Global Sustainable Growth Equity Fund
Schedule of Investments
September 30, 2020 (Unaudited)
Investments | Shares | Value ($) | ||||||
MASTER LIMITED PARTNERSHIPS - 1.7% | ||||||||
Independent Power and Renewable Electricity Producers - 1.7% | ||||||||
Brookfield Renewable Partners LP (Cost $13,862) | 419 | 22,027 | ||||||
Total Investments - 100.3% (Cost $901,429) | 1,314,649 | |||||||
Liabilities in excess of other assets - (0.3%) | (3,970 | ) | ||||||
Net Assets - 100.0% | 1,310,679 |
* | Non-income producing security. |
AGF Global Sustainable Growth Equity Fund invested, as a percentage of net assets, in the following countries as of September 30, 2020: | ||||
Belgium | 0.9 | % | ||
Canada | 3.5 | % | ||
Denmark | 2.5 | % | ||
France | 4.8 | % | ||
Germany | 3.0 | % | ||
Ireland | 5.3 | % | ||
Italy | 3.2 | % | ||
Japan | 8.1 | % | ||
Netherlands | 1.0 | % | ||
Norway | 1.5 | % | ||
South Korea | 2.8 | % | ||
Spain | 1.3 | % | ||
Sweden | 3.3 | % | ||
Taiwan | 0.9 | % | ||
United Kingdom | 6.6 | % | ||
United States | 51.6 | % | ||
Other(1) | (0.3 | )% | ||
100.0 | % |
(1) | Includes any non-equity securities and net other assets (liabilities). |