AGF Investments Trust NPORT-P AGF Global Sustainable Equity Fund (Sep 2023 report)

AGF Investments Trust

AGF Emerging Markets Equity Fund

Schedule of Investments

September 30, 2023 (Unaudited)

Investments	Shares		Value ($)
COMMON STOCKS - 86.9%
Banks - 8.4%
Axis Bank Ltd., GDR		184		11,524
Bank Mandiri Persero Tbk. PT		37,144		14,480
China Merchants Bank Co. Ltd., Class H		1,728		7,169
HDFC Bank Ltd.		508		9,303
Komercni Banka A/S		201		5,839
Sberbank of Russia PJSC, ADR*‡^(a)		259		3
Shinhan Financial Group Co. Ltd., ADR		234		6,199
				54,517
Beverages - 2.9%
Budweiser Brewing Co. APAC Ltd.		2,309		4,530
Varun Beverages Ltd.		1,275		14,512
				19,042
Broadline Retail - 6.6%
Alibaba Group Holding Ltd.*		3,422		37,099
Naspers Ltd., Class N		39		6,224
				43,323
Chemicals - 1.7%
Hansol Chemical Co. Ltd.		63		7,830
Skshu Paint Co. Ltd., Class A*		345		3,270
				11,100
Construction & Engineering - 4.9%
China Railway Group Ltd., Class H		16,980		8,728
Larsen & Toubro Ltd., GDR		641		23,187
				31,915
Consumer Staples Distribution & Retail - 2.8%
Atacadao SA		2,264		4,008
BGF retail Co. Ltd.		50		5,223
Pick n Pay Stores Ltd.		2,978		5,819
Raia Drogasil SA		600		3,297
				18,347
Diversified Telecommunication Services - 4.0%
Hellenic Telecommunications Organization SA		753		11,002
HKT Trust & HKT Ltd.		4,671		4,872
Telkom Indonesia Persero Tbk. PT		41,864		10,153
				26,027
Electronic Equipment, Instruments & Components - 1.7%
Delta Electronics, Inc.		1,088		10,938
Energy Equipment & Services - 2.8%
China Oilfield Services Ltd., Class H		9,278		11,094
Tenaris SA, ADR		234		7,395
				18,489
Financial Services - 2.6%
Chailease Holding Co. Ltd.		1,914		10,732
FirstRand Ltd.		1,814		6,114
				16,846

Investments	Shares		Value ($)
Food Products - 1.0%
China Mengniu Dairy Co. Ltd.		2,029		6,778
Hotels, Restaurants & Leisure - 3.2%
Americana Restaurants International plc		5,768		6,440
Melco Resorts & Entertainment Ltd., ADR*		738		7,299
Trip.com Group Ltd.*		208		7,338
				21,077
Household Durables - 1.1%
Haier Smart Home Co. Ltd., Class H		2,267		7,091
Insurance - 5.3%
AIA Group Ltd.		2,161		17,480
Ping An Insurance Group Co. of China Ltd., Class H		2,964		16,789
				34,269
Interactive Media & Services - 6.2%
Tencent Holdings Ltd.		1,039		40,267
IT Services - 0.6%
Globant SA*		19		3,759
Life Sciences Tools & Services - 0.9%
Wuxi Biologics Cayman, Inc.*		969		5,691
Machinery - 0.0%(1)
Doosan Robotics, Inc.*		3		58
Metals & Mining - 4.6%
Anglo American plc		344		9,524
Southern Copper Corp.		152		11,444
Vale SA		688		9,250
				30,218
Oil, Gas & Consumable Fuels - 1.8%
Reliance Industries Ltd.		407		11,424
Real Estate Management & Development - 2.2%
Aliansce Sonae Shopping Centers sa		1,040		4,674
Country Garden Services Holdings Co. Ltd.		2,489		2,529
Longfor Group Holdings Ltd.		4,081		7,213
				14,416
Semiconductors & Semiconductor Equipment - 9.8%
SK Hynix, Inc.		115		9,768
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		625		54,312
				64,080
Software - 0.8%
TOTVS SA		922		4,953

AGF Investments Trust

AGF Emerging Markets Equity Fund

Schedule of Investments (continued)

September 30, 2023 (Unaudited)

Investments	Shares		Value ($)
Technology Hardware, Storage & Peripherals - 7.5%
Samsung Electronics Co. Ltd., GDR		39		49,057
Textiles, Apparel & Luxury Goods - 0.8%
GRUPO DE MODA SOMA SA		4,150		5,490
Transportation Infrastructure - 0.9%
Salik Co. PJSC		6,692		6,033
Wireless Telecommunication Services - 1.8%
Bharti Airtel Ltd.		1,063		11,861
TOTAL COMMON STOCKS (Cost $606,088)				567,066

Investments	Shares		Maturity Date	Value ($)
PARTICIPATION NOTES - 5.8%
China
Kweichow Moutai Co. Ltd. (Issuer: UBS AG)*		44	10/21/2024		10,835
Longshine Technology Group Co. Ltd. (Issuer: Bank of America Merrill Lynch)*		2,430	11/2/2023		6,404
NARI Technology Co. Ltd. (Issuer: Macquarie Bank Ltd.)*		4,897	7/18/2024		14,877
Wuliangye Yibin Co. Ltd. (Issuer: Macquarie Bank Ltd.)*		290	7/18/2024		6,198
TOTAL PARTICIPATION NOTES (Cost $38,698)					38,314
Total Investments - 92.7%  (Cost $644,786)					605,380
Other assets less liabilities - 7.3%					47,323
Net Assets - 100.0%					652,703

*	Non-income producing security.
‡	Value determined using significant unobservable inputs.
^	Security subject to restrictions on resale.
(a)	Security fair valued as of September 30, 2023 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at September 30, 2023 amounted to $3, which represents approximately 0.00%(1) of net assets of the Fund.
(1)	Represents less than 0.05% of net assets.

Abbreviations
ADR	American Depositary Receipt
GDR	Global Depositary Receipt
PJSC	Public Joint Stock Company

Participation Notes A derivative instrument designed to replicate equity exposure in certain foreign markets where direct investment is impossible or difficult due to local investment restrictions. 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. 

AGF Emerging Markets Equity Fund invested, as a percentage of net assets, in the following countries as of September 30, 2023:

Brazil	4.9	%
China	31.2	%
Czech Republic	0.9	%
Greece	1.7	%
Hong Kong	4.5	%
India	12.5	%
Indonesia	3.8	%
Mexico	1.8	%
Russia	0.0	%(a)
South Africa	4.2	%
South Korea	12.0	%
Taiwan	11.6	%
United Arab Emirates	1.9	%
United States	1.7	%
Other(1)	7.3	%
	100.0	%

(a)	Represents less than 0.05% of net assets.
(1)	Includes cash and net other assets (liabilities).

AGF Investments Trust

AGF Global Sustainable Equity Fund

Schedule of Investments

September 30, 2023 (Unaudited)

Investments	Shares		Value ($)
COMMON STOCKS - 94.1%
Automobile Components - 6.5%
Aptiv plc*		2,062		203,293
Denso Corp.		15,640		251,016
				454,309
Automobiles - 2.2%
Mercedes-Benz Group AG		1,491		103,851
Tesla, Inc.*		197		49,294
				153,145
Building Products - 10.1%
Advanced Drainage Systems, Inc.		693		78,884
Cie de Saint-Gobain SA		3,556		213,035
Daikin Industries Ltd.		258		40,476
Kingspan Group plc		2,451		182,721
Trex Co., Inc.*		3,177		195,799
				710,915
Chemicals - 7.5%
Albemarle Corp.		764		129,911
Croda International plc		1,064		63,779
DSM-Firmenich AG		804		67,918
Ecolab, Inc.		1,571		266,127
				527,735
Commercial Services & Supplies - 3.3%
Tetra Tech, Inc.		1,547		235,190
Construction & Engineering - 9.3%
Quanta Services, Inc.		1,208		225,981
Stantec, Inc.		3,425		222,231
WSP Global, Inc.		1,458		205,778
				653,990
Containers & Packaging - 1.2%
Ball Corp.		1,699		84,576
Electrical Equipment - 8.7%
Array Technologies, Inc.*		4,045		89,759
LG Energy Solution Ltd.*		99		34,942
Plug Power, Inc.*		1,432		10,883
Prysmian SpA		4,581		183,788
Schneider Electric SE		1,120		184,646
Vestas Wind Systems A/S*		4,988		106,465
				610,483
Electronic Equipment, Instruments & Components - 10.4%
Amphenol Corp., Class A		2,615		219,634
Halma plc		6,444		151,394
Hexagon AB, Class B		14,325		121,919
Keyence Corp.		411		152,757
Samsung SDI Co. Ltd.		231		87,596
				733,300
Food Products - 2.5%
Kerry Group plc, Class A		2,114		176,472

Investments	Shares		Value ($)
Household Durables - 1.9%
Garmin Ltd.		1,286		135,287
Independent Power and Renewable Electricity Producers - 1.1%
Brookfield Renewable Corp.		3,316		79,369
Insurance - 1.5%
Intact Financial Corp.		735		107,156
Life Sciences Tools & Services - 5.0%
Danaher Corp.		813		201,705
Thermo Fisher Scientific, Inc.		291		147,296
				349,001
Machinery - 9.3%
AGCO Corp.		598		70,731
Alfa Laval AB		2,979		101,922
Chart Industries, Inc.*		1,213		205,142
Cummins, Inc.		147		33,584
Metso OYJ		15,492		162,308
Xylem, Inc.		928		84,476
				658,163
Semiconductors & Semiconductor Equipment - 3.8%
AIXTRON SE		2,314		85,109
Analog Devices, Inc.		519		90,872
Infineon Technologies AG		2,164		71,769
SolarEdge Technologies, Inc.*		126		16,318
				264,068
Software - 7.3%
ANSYS, Inc.*		523		155,619
Bentley Systems, Inc., Class B		3,154		158,205
Dassault Systemes SE		5,369		199,612
				513,436
Specialized REITs - 0.9%
Equinix, Inc., REIT		91		66,090
Water Utilities - 1.6%
American Water Works Co., Inc.		901		111,571
TOTAL COMMON STOCKS (Cost $6,623,669)				6,624,256
MASTER LIMITED PARTNERSHIPS - 0.5%
Independent Power and Renewable Electricity Producers - 0.5%
Brookfield Renewable Partners LP (Cost $42,880)		1,671		36,305
Total Investments - 94.6%  (Cost $6,666,549)				6,660,561
Other assets less liabilities - 5.4%				382,042
Net Assets - 100.0%				7,042,603

* Non-income producing security.

AGF Investments Trust

AGF Global Sustainable Equity Fund

Schedule of Investments (continued)

September 30, 2023 (Unaudited)

Abbreviations
OYJ	Public Limited Company

AGF Global Sustainable Equity Fund invested, as a percentage of net assets, in the following countries as of September 30, 2023:
Canada	8.1	%
Denmark	1.5	%
Finland	2.3	%
France	5.9	%
Germany	3.7	%
Ireland	5.1	%
Italy	2.6	%
Japan	6.3	%
South Korea	1.7	%
Sweden	3.2	%
Switzerland	1.0	%
United Kingdom	3.1	%
United States	50.1	%
Other(1)	5.4	%
	100.0	%

(1) Includes cash and net other assets (liabilities).

AGF Investments Trust

Notes to Quarterly Schedules of Investments

September 30, 2023 (Unaudited)

Investment Valuation

The Funds disclose the fair value of its investments in a hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of the Funds (observable inputs) and (2) the Funds’ own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the hierarchy are as follows:

● Level 1 — Quoted prices in active markets for identical assets that the Funds have the ability to access.

● Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

● Level 3 — Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuations as of September 30, 2023 for each Fund based upon the three levels defined above:

AGF Emerging Markets Equity Fund	Level 1 — Quoted Prices		Level 2 — Other Significant Observable Inputs		Level 3 — Significant Unobservable Inputs		Total
Investments
Common Stocks
Banks	$	6,199	$	48,315	$	3	$	54,517
Beverages		—		19,042		—		19,042
Broadline Retail		—		43,323		—		43,323
Chemicals		—		11,100		—		11,100
Construction & Engineering		—		31,915		—		31,915
Consumer Staples Distribution & Retail		7,305		11,042		—		18,347
Diversified Telecommunication Services		—		26,027		—		26,027
Electronic Equipment, Instruments & Components		—		10,938		—		10,938
Energy Equipment & Services		7,395		11,094		—		18,489
Financial Services		—		16,846		—		16,846
Food Products		—		6,778		—		6,778
Hotels, Restaurants & Leisure		7,299		13,778		—		21,077
Household Durables		—		7,091		—		7,091
Insurance		—		34,269		—		34,269
Interactive Media & Services		—		40,267		—		40,267
Life Sciences Tools & Services		—		5,691		—		5,691
Machinery		—		58		—		58
Metals & Mining		20,694		9,524		—		30,218
Oil, Gas & Consumable Fuels		—		11,424		—		11,424
Real Estate Management & Development		4,674		9,742		—		14,416
Semiconductors & Semiconductor Equipment		54,312		9,768		—		64,080
Technology Hardware, Storage & Peripherals		—		49,057		—		49,057
Transportation Infrastructure		—		6,033		—		6,033
Wireless Telecommunication Services		—		11,861		—		11,861
Other*		14,202		—		—		14,202
Participation Notes		—		38,314		—		38,314
Total Investments	$	122,080	$	483,297	$	3	$	605,380

AGF Investments Trust

Notes to Quarterly Schedules of Investments (continued)

September 30, 2023 (Unaudited)

AGF Global Sustainable Equity Fund	Level 1 — Quoted Prices		Level 2 — Other Significant Observable Inputs		Level 3 — Significant Unobservable Inputs		Total
Investments
Common Stocks
Automobile Components	$	203,293	$	251,016	$	—	$	454,309
Automobiles		49,294		103,851		—		153,145
Building Products		274,683		436,232		—		710,915
Chemicals		396,038		131,697		—		527,735
Electrical Equipment		100,642		509,841		—		610,483
Electronic Equipment, Instruments & Components		219,634		513,666		—		733,300
Food Products		—		176,472		—		176,472
Machinery		393,933		264,230		—		658,163
Semiconductors & Semiconductor Equipment		107,190		156,878		—		264,068
Software		313,824		199,612		—		513,436
Other*		1,822,230		—		—		1,822,230
Master Limited Partnerships		36,305		—		—		36,305
Total Investments	$	3,917,066	$	2,743,495	$	—	$	6,660,561

* See Schedules of Investments for segregation by industry.