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Schedule of Investments |
October 31, 2020 (unaudited) |
Ranger Small Cap Fund |
| | | | | | | |
| | | | | Shares or Principal | | |
Security Description | | | Amount ($) | | Fair Value ($)(1) |
| | | | | |
Common Stocks - 97.18% |
| | | |
Apparel Retailers - 0.25% | | | |
Boot Barn Holdings, Inc. (2) | 2,088 | | 66,858 |
| | | |
Banks - 3.17% | | | |
Banc of California, Inc. | 35,266 | | 423,192 |
Home BancShares, Inc. | 25,927 | | 430,388 |
| | | |
| | | 853,580 |
| | | |
Biotechnology - 4.36% | | | |
Medpace Holdings, Inc. (2) | 7,675 | | 851,465 |
PRA Health Sciences, Inc. (2) | 3,299 | | 321,455 |
| | | |
| | | 1,172,920 |
| | | |
Building Materials: Other - 2.17% | | | |
TopBuild Corp. (2) | 3,817 | | 584,803 |
| | | |
Computer Services - 10.99% | | | |
Box, Inc. Class A (2) | 35,048 | | 543,244 |
Endava PLC Class A ADR (United Kingdom) (2) | 7,759 | | 495,800 |
Mimecast Ltd. (United Kingdom) (2) | 18,564 | | 709,330 |
Qualys, Inc. (2) | 4,116 | | 361,591 |
Workiva, Inc. Class A (2) | 15,365 | | 849,838 |
| | | |
| | | 2,959,803 |
| | | |
Consumer Digital Services - 1.49% | | | |
Magnite, Inc. (2) | 44,463 | | 401,501 |
| | | |
Consumer Lending - 1.47% | | | |
LendingTree, Inc. (2) | 1,223 | | 395,751 |
| | | |
Cosmetics - 1.68% | | | |
e.l.f. Beauty, Inc. (2) | 22,250 | | 451,008 |
| | | |
Defense - 4.69% | | | |
Kratos Defense & Security Solutions, Inc. (2) | 36,347 | | 686,595 |
Mercury Systems, Inc. (2) | 8,357 | | 575,630 |
| | | |
| | | 1,262,225 |
| | | |
Electronic Equipment: Gauges and Meters - 2.75% | | | |
Mesa Laboratories, Inc. | 2,828 | | 739,268 |
| | | |
Food Retailers and Wholesalers - 3.46% | | | |
Grocery Outlet Holding Corp. (2) | 21,154 | | 931,199 |
| | | |
Health Care Services - 4.49% | | | |
LHC Group (2) | 3,557 | | 770,268 |
Tabula Rasa HealthCare, Inc. (2) | 12,680 | | 437,967 |
| | | |
| | | 1,208,235 |
| | | |
Home Construction - 2.80% | | | |
Skyline Champion Corp. (2) | 29,385 | | 753,725 |
| | | |
Home Improvement Retailers - 1.89% | | | |
SiteOne Landscape Supply, Inc. (2) | 4,255 | | 508,430 |
| | | |
Medical Equipment - 8.75% | | | |
BioTelemetry, Inc. (2) | 9,650 | | 410,897 |
BioLife Solutions, Inc. (2) | 13,160 | | 377,824 |
Integer Holdings Corp. (2) | 1,769 | | 103,398 |
LeMaitre Vascular, Inc. | 8,878 | | 288,357 |
Repligen Corp. (2) | 7,060 | | 1,175,984 |
| | | |
| | | 2,356,460 |
| | | |
Medical Services - 3.56% | | | |
NeoGenomics, Inc. (2) | 24,422 | | 958,075 |
| | | |
Medical Supplies - 4.72% | | | |
Conmed Corp. | 5,885 | | 458,853 |
Neogen Corp. (2) | 11,658 | | 813,029 |
| | | |
| | | 1,271,882 |
| | | |
Oil Equipment and Services - 0.49% | | | |
Select Energy Services, Inc. Class A (2) | 43,745 | | 132,110 |
| | | |
Pharmaceuticals - 1.60% | | | |
Heska Corp. (2) | 3,661 | | 429,545 |
| | | |
Professional Business Support Services - 5.58% | | | |
Maximus, Inc. | 7,310 | | 494,010 |
WNS Holdings Ltd. ADR (India) (2) | 17,510 | | 1,009,276 |
| | | |
| | | 1,503,286 |
| | | |
Restaurants and Bars - 2.92% | | | |
Texas Roadhouse, Inc. (2) | 11,228 | | 786,297 |
| | | |
Semiconductors - 2.30% | | | |
CMC Materials, Inc. | 2,000 | | 284,380 |
nLight, Inc. (2) | 3,862 | | 82,029 |
Silicon Laboratories, Inc. (2) | 2,464 | | 252,461 |
| | | |
| | | 618,870 |
| | | |
Software - 10.41% | | | |
AppFolio, Inc. Class A (2) | 3,140 | | 448,612 |
Cerence, Inc. (2) | 5,560 | | 303,465 |
Onespan, Inc. (2) | 13,608 | | 298,423 |
Pegasystems, Inc. | 10,547 | | 1,222,186 |
Simulations Plus, Inc. | 8,153 | | 528,477 |
| | | |
| | | 2,801,163 |
| | | |
Specialty Chemicals - 2.03% | | | |
Quaker Chemical Corp. | 2,868 | | 547,186 |
| | | |
Transaction Processing Services - 5.06% | | | |
Evo Payments, Inc. Class A (2) | 39,159 | | 825,080 |
i3 Verticals, Inc. Class A (2) | 13,113 | | 270,521 |
Repay Holdings Corporation Class A (2) | 11,819 | | 266,282 |
| | | |
| | | 1,361,883 |
| | | |
Trucking - 4.10% | | | |
Marten Transport, Ltd. | 32,408 | | 497,301 |
SAIA, Inc. (2) | 4,105 | | 606,144 |
| | | |
| | | 1,103,445 |
| | | | | | | |
Total Common Stocks | (Cost $ 22,713,862) | | 26,159,508 |
| | | |
Short-Term Investment - 2.71% |
| | | |
First American Government Obligation Fund - Class Z 0.036% (3) | 730,777 | | 730,777 |
| | | |
Total Short-Term Investment | (Cost $ 730,777) | | 730,777 |
| | | |
Total Investments - 99.89% | (Cost $ 23,444,639) | | 26,890,285 |
| | | |
Other Assets Less Liabilities - 0.11% | | | 30,336 |
| | | |
Total Net Assets - 100.00% | | | 26,920,621 |
| | | |
(1) Statement on Financial Accounting Standard No. 157 "Fair Value Measurements" - Various inputs are used in determining the value of the Fund's investments. |
These inputs are summarized in the three broad levels listed below. |
• Level 1 - quoted prices in active markets for identical securities |
• 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 the Fund's own assumptions in determining the fair value of investments) |
|
The following is a summary of the inputs used as of October 31, 2020 in valuing the Fund's assets carried at fair value: |
| | | | | | | |
| | | | | | | |
| | | | | Investments in | | Other Financial |
Valuation Inputs | | | | Securities | | Instruments |
Level 1 - Quoted Prices | | | $ | 26,890,285 | $ | - |
Level 2 - Other Significant Observable Inputs | | | - | | - |
Level 3 - Significant Unobservable Inputs | | | - | | - |
Total | | | | $ | 26,890,285 | $ | - |
| | | | | | | |
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term |
debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment |
Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active |
market, such securities are reflected as Level 2. |
| | | | | | | |
(2) Represents non-income producing securities. |
(3) The yield shown represents the 7-day yield in effect at October 31, 2020. | | | |
