VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS
As of December 31, 2023 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS — 95.6% | |||
BASIC MATERIALS — 5.6% | |||
AdvanSix, Inc. | 3,982 | $119,301 | |
Alcoa Corp. | 1,190 | 40,460 | |
American Vanguard Corp. | 5,810 | 63,736 | |
Ashland, Inc. | 1,203 | 101,425 | |
ATI, Inc.* | 12,179 | 553,779 | |
Avient Corp. | 3,830 | 159,213 | |
Cabot Corp. | 2,568 | 214,428 | |
Carpenter Technology Corp. | 10,787 | 763,720 | |
Century Aluminum Co.* | 7,290 | 88,501 | |
Chemours Co. | 1,428 | 45,039 | |
Coeur Mining, Inc.* | 6,960 | 22,690 | |
Commercial Metals Co. | 27,500 | 1,376,100 | |
Ecovyst, Inc.* | 7,110 | 69,465 | |
Element Solutions, Inc. | 50,030 | 1,157,694 | |
H.B. Fuller Co. | 3,172 | 258,232 | |
Hawkins, Inc. | 1,040 | 73,237 | |
Haynes International, Inc. | 3,420 | 195,111 | |
Hecla Mining Co. | 107,898 | 518,989 | |
Huntsman Corp. | 14,365 | 360,992 | |
Innospec, Inc. | 940 | 115,846 | |
Kaiser Aluminum Corp. | 1,003 | 71,403 | |
Koppers Holdings, Inc. | 3,171 | 162,419 | |
Kronos Worldwide, Inc. | 9,450 | 93,933 | |
Livent Corp.* | 2,200 | 39,556 | |
Mercer International, Inc. | 11,500 | 109,020 | |
Minerals Technologies, Inc. | 6,040 | 430,712 | |
NewMarket Corp. | 98 | 53,491 | |
Olin Corp. | 8,685 | 468,556 | |
Orion S.A. | 3,260 | 90,400 | |
Rayonier Advanced Materials, Inc.* | 22,455 | 90,943 | |
Rogers Corp.* | 757 | 99,977 | |
Royal Gold, Inc. | 331 | 40,038 | |
Schnitzer Steel Industries, Inc. - Class A | 3,296 | 99,407 | |
Stepan Co. | 2,080 | 196,664 | |
Sylvamo Corp. | 730 | 35,850 | |
Tronox Holdings PLC | 26,655 | 377,435 | |
United States Steel Corp. | 30,110 | 1,464,851 | |
Worthington Steel, Inc.* | 2,520 | 70,812 | |
10,293,425 | |||
COMMUNICATIONS — 1.9% | |||
1-800-Flowers.com, Inc. - Class A* | 4,400 | 47,432 | |
Advantage Solutions, Inc.* | 84,000 | 304,080 | |
Angi, Inc.* | 17,360 | 43,226 | |
ATN International, Inc. | 2,499 | 97,386 | |
Cars.com, Inc.* | 3,085 | 58,523 | |
Cogent Communications Holdings, Inc. | 690 | 52,481 | |
Consolidated Communications Holdings, Inc.* | 8,840 | 38,454 | |
Cumulus Media, Inc. - Class A* | 7,510 | 39,953 | |
EchoStar Corp. - Class A* | 5,665 | 93,869 | |
Entravision Communications Corp. - Class A | 13,025 | 54,314 | |
ePlus, Inc.* | 3,950 | 315,368 | |
EW Scripps Co. - Class A* | 10,876 | 86,899 | |
Frontier Communications Parent, Inc.* | 1,743 | 44,168 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
COMMUNICATIONS (Continued) | |||
Gray Television, Inc. | 7,875 | $70,560 | |
HealthStream, Inc. | 890 | 24,057 | |
InterDigital, Inc. | 650 | 70,551 | |
Iridium Communications, Inc. | 3,190 | 131,300 | |
Lands’ End, Inc.* | 3,150 | 30,114 | |
Liberty Latin America Ltd. - Class A* | 7,710 | 56,360 | |
Magnite, Inc.* | 1,810 | 16,905 | |
NETGEAR, Inc.* | 1,500 | 21,870 | |
Nexstar Media Group, Inc. | 290 | 45,458 | |
Open Lending Corp.* | 4,510 | 38,380 | |
Opendoor Technologies, Inc.* | 39,130 | 175,302 | |
Preformed Line Products Co. | 720 | 96,379 | |
QuinStreet, Inc.* | 6,530 | 83,715 | |
Saga Communications, Inc. - Class A | 760 | 16,918 | |
Scholastic Corp. | 8,473 | 319,432 | |
Shenandoah Telecommunications Co. | 3,640 | 78,697 | |
Sinclair, Inc. | 3,480 | 45,344 | |
Sphere Entertainment Co.* | 3,450 | 117,162 | |
TEGNA, Inc. | 9,250 | 141,525 | |
Telephone and Data Systems, Inc. | 10,459 | 191,923 | |
Thryv Holdings, Inc.* | 1,696 | 34,514 | |
Viasat, Inc.* | 12,127 | 338,950 | |
Ziff Davis, Inc.* | 490 | 32,923 | |
3,454,492 | |||
CONSUMER, CYCLICAL — 19.3% | |||
Abercrombie & Fitch Co. - Class A* | 10,543 | 930,103 | |
Academy Sports & Outdoors, Inc. | 7,003 | 462,198 | |
Acushnet Holdings Corp. | 1,165 | 73,593 | |
Adient PLC* | 7,251 | 263,646 | |
Allegiant Travel Co. | 2,035 | 168,111 | |
A-Mark Precious Metals, Inc. | 850 | 25,713 | |
American Axle & Manufacturing Holdings, Inc.* | 18,305 | 161,267 | |
American Eagle Outfitters, Inc. | 24,262 | 513,384 | |
America’s Car-Mart, Inc.* | 480 | 36,370 | |
Asbury Automotive Group, Inc.* | 1,055 | 237,343 | |
AutoNation, Inc.* | 2,687 | 403,534 | |
Bally’s Corp.* | 6,960 | 97,022 | |
Bassett Furniture Industries, Inc. | 1,130 | 18,758 | |
Beacon Roofing Supply, Inc.* | 13,118 | 1,141,528 | |
Beazer Homes USA, Inc.* | 3,410 | 115,224 | |
Biglari Holdings, Inc. - Class B* | 120 | 19,792 | |
Bloomin’ Brands, Inc. | 4,963 | 139,708 | |
Bluegreen Vacations Holding Corp. | 1,130 | 84,886 | |
BlueLinx Holdings, Inc.* | 1,500 | 169,965 | |
Buckle, Inc. | 2,150 | 102,168 | |
Caleres, Inc. | 4,433 | 136,226 | |
Century Communities, Inc. | 9,072 | 826,822 | |
Children’s Place, Inc.* | 820 | 19,040 | |
Chuy’s Holdings, Inc.* | 1,820 | 69,579 | |
Cracker Barrel Old Country Store, Inc. | 690 | 53,185 | |
Daktronics, Inc.* | 3,420 | 29,002 | |
Dana, Inc. | 27,326 | 399,233 | |
Dave & Buster’s Entertainment, Inc.* | 1,730 | 93,161 | |
Designer Brands, Inc. - Class A | 7,680 | 67,968 |
1
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2023 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
CONSUMER, CYCLICAL (Continued) | |||
Dick’s Sporting Goods, Inc. | 2,360 | $346,802 | |
Dillard’s, Inc. - Class A | 2,876 | 1,160,897 | |
Dine Brands Global, Inc. | 300 | 14,895 | |
Dorman Products, Inc.* | 260 | 21,687 | |
El Pollo Loco Holdings, Inc.* | 3,380 | 29,812 | |
Ethan Allen Interiors, Inc. | 7,770 | 248,018 | |
FirstCash Holdings, Inc. | 152 | 16,475 | |
Foot Locker, Inc. | 7,363 | 229,357 | |
Forestar Group, Inc.* | 4,192 | 138,629 | |
Gap, Inc. | 30,042 | 628,178 | |
Genesco, Inc.* | 2,300 | 80,983 | |
G-III Apparel Group Ltd.* | 9,030 | 306,839 | |
GMS, Inc.* | 9,080 | 748,464 | |
Goodyear Tire & Rubber Co.* | 42,006 | 601,526 | |
Green Brick Partners, Inc.* | 7,248 | 376,461 | |
Group 1 Automotive, Inc. | 3,664 | 1,116,567 | |
Guess?, Inc. | 9,470 | 218,378 | |
H&E Equipment Services, Inc. | 2,345 | 122,690 | |
Hamilton Beach Brands Holding Co. - Class A | 2,891 | 50,564 | |
Hanesbrands, Inc. | 3,500 | 15,610 | |
Haverty Furniture Cos., Inc. | 4,630 | 164,365 | |
Hibbett, Inc. | 1,620 | 116,672 | |
HNI Corp. | 2,410 | 100,810 | |
Hooker Furnishings Corp. | 1,980 | 51,638 | |
Hovnanian Enterprises, Inc. - Class A* | 650 | 101,153 | |
Installed Building Products, Inc. | 280 | 51,190 | |
Interface, Inc. | 4,470 | 56,411 | |
J Jill, Inc.* | 750 | 19,335 | |
JAKKS Pacific, Inc.* | 820 | 29,151 | |
JetBlue Airways Corp.* | 10,024 | 55,633 | |
Johnson Outdoors, Inc. - Class A | 720 | 38,462 | |
KB Home | 4,850 | 302,931 | |
Kohl’s Corp. | 7,930 | 227,432 | |
Kontoor Brands, Inc. | 2,040 | 127,337 | |
Landsea Homes Corp.* | 5,180 | 68,065 | |
La-Z-Boy, Inc. | 8,190 | 302,375 | |
LCI Industries | 1,537 | 193,216 | |
LGI Homes, Inc.* | 2,811 | 374,313 | |
Life Time Group Holdings, Inc.* | 6,850 | 103,298 | |
Lifetime Brands, Inc. | 2,950 | 19,795 | |
Light & Wonder, Inc.* | 3,062 | 251,421 | |
Lithia Motors, Inc. | 130 | 42,806 | |
M/I Homes, Inc.* | 6,915 | 952,472 | |
Macy’s, Inc. | 20,241 | 407,249 | |
Madison Square Garden Entertainment Corp.* | 1,950 | 61,991 | |
Marcus Corp. | 3,670 | 53,509 | |
MarineMax, Inc.* | 3,010 | 117,089 | |
Marriott Vacations Worldwide Corp. | 2,060 | 174,873 | |
MDC Holdings, Inc. | 13,325 | 736,206 | |
Meritage Homes Corp. | 7,216 | 1,257,027 | |
Methode Electronics, Inc. | 1,460 | 33,186 | |
Miller Industries, Inc. | 2,765 | 116,932 | |
MillerKnoll, Inc. | 7,280 | 194,230 | |
Motorcar Parts of America, Inc.* | 4,530 | 42,310 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
CONSUMER, CYCLICAL (Continued) | |||
Movado Group, Inc. | 4,990 | $150,449 | |
Murphy USA, Inc. | 292 | 104,116 | |
National Vision Holdings, Inc.* | 4,548 | 95,190 | |
Nu Skin Enterprises, Inc. - Class A | 990 | 19,226 | |
ODP Corp.* | 12,740 | 717,262 | |
Ollie’s Bargain Outlet Holdings, Inc.* | 430 | 32,633 | |
OPENLANE, Inc.* | 14,244 | 210,954 | |
Oxford Industries, Inc. | 1,050 | 105,000 | |
Patrick Industries, Inc. | 3,510 | 352,229 | |
PC Connection, Inc. | 4,362 | 293,170 | |
Penske Automotive Group, Inc. | 6,012 | 964,986 | |
Playa Hotels & Resorts N.V.* | 9,727 | 84,139 | |
PriceSmart, Inc. | 530 | 40,163 | |
PVH Corp. | 7,159 | 874,257 | |
RCI Hospitality Holdings, Inc. | 250 | 16,565 | |
Resideo Technologies, Inc.* | 14,460 | 272,137 | |
REV Group, Inc. | 9,130 | 165,892 | |
Rocky Brands, Inc. | 1,750 | 52,815 | |
Rush Enterprises, Inc. - Class A | 14,422 | 725,427 | |
Rush Enterprises, Inc. - Class B | 6,862 | 363,549 | |
ScanSource, Inc.* | 4,700 | 186,167 | |
Shoe Carnival, Inc. | 5,630 | 170,082 | |
Signet Jewelers Ltd. | 5,690 | 610,309 | |
Skechers USA, Inc. - Class A* | 4,630 | 288,634 | |
SkyWest, Inc.* | 17,490 | 912,978 | |
Sonic Automotive, Inc. - Class A | 4,827 | 271,326 | |
Spirit Airlines, Inc. | 7,405 | 121,368 | |
Sportsman’s Warehouse Holdings, Inc.* | 5,010 | 21,343 | |
Standard Motor Products, Inc. | 1,390 | 55,336 | |
Steelcase, Inc. - Class A | 10,665 | 144,191 | |
Tapestry, Inc. | 1,050 | 38,651 | |
Taylor Morrison Home Corp.* | 24,903 | 1,328,575 | |
Texas Roadhouse, Inc. | 140 | 17,112 | |
Thor Industries, Inc. | 4,998 | 591,014 | |
Titan Machinery, Inc.* | 5,500 | 158,840 | |
TKO Group Holdings, Inc. | 300 | 24,474 | |
Toll Brothers, Inc. | 3,140 | 322,761 | |
Topgolf Callaway Brands Corp.* | 2,570 | 36,854 | |
Tri Pointe Homes, Inc.* | 31,485 | 1,114,569 | |
Under Armour, Inc. - Class A* | 13,412 | 117,891 | |
UniFirst Corp. | 600 | 109,746 | |
Urban Outfitters, Inc.* | 12,439 | 443,948 | |
Victoria’s Secret & Co.* | 3,745 | 99,392 | |
Vista Outdoor, Inc.* | 7,149 | 211,396 | |
VOXX International Corp.* | 2,260 | 24,137 | |
VSE Corp. | 1,160 | 74,948 | |
Wabash National Corp. | 3,370 | 86,339 | |
WESCO International, Inc. | 6,972 | 1,212,291 | |
Winmark Corp. | 290 | 121,090 | |
Winnebago Industries, Inc. | 5,155 | 375,696 | |
Wolverine World Wide, Inc. | 3,820 | 33,960 | |
Xperi, Inc.* | 1,442 | 15,891 | |
Zumiez, Inc.* | 2,420 | 49,223 | |
35,306,935 | |||
CONSUMER, NON-CYCLICAL — 10.0% | |||
Aaron’s Co., Inc. | 4,070 | 44,282 |
2
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2023 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
CONSUMER, NON-CYCLICAL (Continued) | |||
ABM Industries, Inc. | 13,275 | $595,118 | |
Acadia Healthcare Co., Inc.* | 11,454 | 890,663 | |
ACCO Brands Corp. | 13,780 | 83,782 | |
Adtalem Global Education, Inc.* | 12,230 | 720,958 | |
Alight, Inc.* | 9,550 | 81,461 | |
American Public Education, Inc.* | 4,950 | 47,768 | |
Andersons, Inc. | 9,480 | 545,479 | |
Anika Therapeutics, Inc.* | 600 | 13,596 | |
Artivion, Inc.* | 4,440 | 79,387 | |
Avanos Medical, Inc.* | 7,550 | 169,346 | |
B&G Foods, Inc. | 1,990 | 20,895 | |
BellRing Brands, Inc.* | 660 | 36,584 | |
BrightView Holdings, Inc.* | 4,500 | 37,890 | |
Brookdale Senior Living, Inc.* | 14,145 | 82,324 | |
Cal-Maine Foods, Inc. | 2,713 | 155,699 | |
CBIZ, Inc.* | 8,785 | 549,853 | |
Central Garden & Pet Co. - Class A* | 6,990 | 307,840 | |
Chegg, Inc.* | 3,220 | 36,579 | |
Cleanspark, Inc.* | 5,460 | 60,224 | |
Coca-Cola Consolidated, Inc. | 310 | 287,804 | |
Collegium Pharmaceutical, Inc.* | 1,920 | 59,098 | |
CONMED Corp. | 329 | 36,029 | |
Coty, Inc. - Class A* | 8,448 | 104,924 | |
CRA International, Inc. | 1,290 | 127,516 | |
Cross Country Healthcare, Inc.* | 2,690 | 60,902 | |
Cytek Biosciences, Inc.* | 5,270 | 48,062 | |
Deluxe Corp. | 4,760 | 102,102 | |
Duckhorn Portfolio, Inc.* | 3,210 | 31,619 | |
Dun & Bradstreet Holdings, Inc. | 4,920 | 57,564 | |
Edgewell Personal Care Co. | 10,120 | 370,696 | |
Enhabit, Inc.* | 2,590 | 26,807 | |
Ennis, Inc. | 5,900 | 129,269 | |
Enovis Corp.* | 6,598 | 369,620 | |
Envista Holdings Corp.* | 5,960 | 143,398 | |
First Advantage Corp. | 5,210 | 86,330 | |
FONAR Corp.* | 1,270 | 24,841 | |
Fresh Del Monte Produce, Inc. | 11,020 | 289,275 | |
FTI Consulting, Inc.* | 500 | 99,575 | |
Fulgent Genetics, Inc.* | 2,200 | 63,602 | |
Graham Holdings Co. - Class B | 570 | 397,016 | |
Grand Canyon Education, Inc.* | 840 | 110,914 | |
Green Dot Corp. - Class A* | 8,480 | 83,952 | |
GXO Logistics, Inc.* | 2,750 | 168,190 | |
Heidrick & Struggles International, Inc. | 3,305 | 97,597 | |
Herc Holdings, Inc. | 793 | 118,070 | |
Huron Consulting Group, Inc.* | 2,630 | 270,364 | |
ICF International, Inc. | 3,193 | 428,149 | |
Ingles Markets, Inc. - Class A | 4,967 | 429,000 | |
Ingredion, Inc. | 1,588 | 172,346 | |
Innoviva, Inc.* | 11,450 | 183,658 | |
Integer Holdings Corp.* | 6,460 | 640,057 | |
Iovance Biotherapeutics, Inc.* | 6,622 | 53,837 | |
John B Sanfilippo & Son, Inc. | 580 | 59,763 | |
Kelly Services, Inc. - Class A | 8,850 | 191,337 | |
Korn Ferry | 8,965 | 532,073 | |
Laureate Education, Inc. | 13,940 | 191,117 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
CONSUMER, NON-CYCLICAL (Continued) | |||
Ligand Pharmaceuticals, Inc.* | 1,035 | $73,920 | |
LiveRamp Holdings, Inc.* | 7,389 | 279,895 | |
ManpowerGroup, Inc. | 990 | 78,675 | |
Matthews International Corp. - Class A | 4,430 | 162,359 | |
Mister Car Wash, Inc.* | 4,830 | 41,731 | |
ModivCare, Inc.* | 1,110 | 48,829 | |
Monro, Inc. | 1,752 | 51,404 | |
National HealthCare Corp. | 1,820 | 168,204 | |
National Research Corp. | 2,300 | 90,988 | |
Natural Grocers by Vitamin Cottage, Inc. | 4,950 | 79,200 | |
Omni AB, Inc. - Earnout Shares1 | 477 | — | |
Omni AB, Inc. - Earnout Shares1 | 477 | — | |
OraSure Technologies, Inc.* | 5,810 | 47,642 | |
Owens & Minor, Inc.* | 5,790 | 111,573 | |
Patterson Cos., Inc. | 1,825 | 51,921 | |
Pediatrix Medical Group, Inc.* | 5,537 | 51,494 | |
Perdoceo Education Corp. | 12,310 | 216,164 | |
Pilgrim’s Pride Corp.* | 3,733 | 103,255 | |
Post Holdings, Inc.* | 3,390 | 298,523 | |
Premier, Inc. - Class A | 1,320 | 29,515 | |
Prestige Consumer Healthcare, Inc.* | 9,295 | 569,040 | |
PROG Holdings, Inc.* | 6,563 | 202,862 | |
Quad/Graphics, Inc.* | 4,040 | 21,897 | |
Quanex Building Products Corp. | 7,275 | 222,397 | |
QuidelOrtho Corp.* | 480 | 35,376 | |
Repay Holdings Corp.* | 4,490 | 38,345 | |
Sabre Corp.* | 7,060 | 31,064 | |
Select Medical Holdings Corp. | 2,524 | 59,314 | |
Seneca Foods Corp. - Class A* | 1,430 | 74,989 | |
SpartanNash Co. | 10,653 | 244,486 | |
Sprouts Farmers Market, Inc.* | 1,878 | 90,351 | |
Strategic Education, Inc. | 3,010 | 278,034 | |
Stride, Inc.* | 9,345 | 554,813 | |
Supernus Pharmaceuticals, Inc.* | 892 | 25,814 | |
Tandem Diabetes Care, Inc.* | 3,000 | 88,740 | |
Tango Therapeutics, Inc.* | 2,920 | 28,908 | |
Tenet Healthcare Corp.* | 580 | 43,831 | |
Textainer Group Holdings Ltd. | 11,095 | 545,874 | |
TreeHouse Foods, Inc.* | 5,867 | 243,187 | |
TrueBlue, Inc.* | 4,670 | 71,638 | |
UFP Technologies, Inc.* | 130 | 22,365 | |
United Natural Foods, Inc.* | 7,570 | 122,861 | |
Universal Corp. | 400 | 26,928 | |
Upbound Group, Inc. | 4,820 | 163,735 | |
USANA Health Sciences, Inc.* | 1,310 | 70,216 | |
Varex Imaging Corp.* | 4,600 | 94,300 | |
Veracyte, Inc.* | 1,543 | 42,448 | |
Village Super Market, Inc. - Class A | 2,030 | 53,247 | |
Weis Markets, Inc. | 7,179 | 459,169 | |
WillScot Mobile Mini Holdings Corp.* | 8,955 | 398,497 | |
Zimvie, Inc.* | 3,150 | 55,913 | |
18,172,132 | |||
ENERGY — 9.1% | |||
Adams Resources & Energy, Inc. | 560 | 14,661 | |
Alpha Metallurgical Resources, Inc. | 1,928 | 653,438 | |
Alto Ingredients, Inc.* | 10,500 | 27,930 |
3
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2023 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
ENERGY (Continued) | |||
Antero Midstream Corp. | 12,060 | $151,112 | |
APA Corp. | 4,350 | 156,078 | |
Arch Resources, Inc. | 1,600 | 265,504 | |
Archrock, Inc. | 26,780 | 412,412 | |
Baytex Energy Corp. | 9,512 | 31,581 | |
Berry Corp. | 7,605 | 53,463 | |
Bristow Group, Inc.* | 4,620 | 130,607 | |
California Resources Corp. | 4,815 | 263,284 | |
Callon Petroleum Co.* | 6,575 | 213,030 | |
ChampionX Corp. | 2,110 | 61,633 | |
Chord Energy Corp. | 4,921 | 818,018 | |
Civeo Corp. | 670 | 15,310 | |
Civitas Resources, Inc.2 | 7,701 | 526,594 | |
CNX Resources Corp.* | 31,011 | 620,220 | |
Comstock Resources, Inc. | 7,924 | 70,127 | |
CONSOL Energy, Inc. | 8,571 | 861,643 | |
CVR Energy, Inc. | 3,176 | 96,233 | |
Delek U.S. Holdings, Inc. | 7,058 | 182,096 | |
Diamond Offshore Drilling, Inc.* | 1,200 | 15,600 | |
Diamondback Energy, Inc. | 2,569 | 398,401 | |
Dril-Quip, Inc.* | 2,430 | 56,546 | |
EnLink Midstream LLC | 20,045 | 243,747 | |
Equitrans Midstream Corp. | 25,268 | 257,228 | |
Expro Group Holdings N.V.* | 1,115 | 17,751 | |
FutureFuel Corp. | 3,460 | 21,037 | |
Golar LNG Ltd. | 4,285 | 98,512 | |
Gulfport Energy Corp.* | 370 | 49,284 | |
Hallador Energy Co.* | 5,370 | 47,471 | |
Helix Energy Solutions Group, Inc.* | 24,350 | 250,318 | |
Helmerich & Payne, Inc. | 16,799 | 608,460 | |
Liberty Energy, Inc. | 9,569 | 173,582 | |
Matador Resources Co. | 10,104 | 574,513 | |
Murphy Oil Corp. | 28,531 | 1,217,132 | |
Nabors Industries Ltd.* | 340 | 27,754 | |
NACCO Industries, Inc. - Class A | 2,700 | 98,550 | |
Natural Gas Services Group, Inc.* | 1,160 | 18,653 | |
Newpark Resources, Inc.* | 17,215 | 114,308 | |
Noble Corp. PLC | 992 | 47,775 | |
NOV, Inc. | 6,955 | 141,047 | |
NOW, Inc.* | 15,225 | 172,347 | |
Oceaneering International, Inc.* | 6,382 | 135,809 | |
Oil States International, Inc.* | 12,685 | 86,131 | |
Par Pacific Holdings, Inc.* | 3,959 | 143,989 | |
Patterson-UTI Energy, Inc. | 23,033 | 248,756 | |
PBF Energy, Inc. - Class A | 22,817 | 1,003,035 | |
Peabody Energy Corp. | 21,613 | 525,628 | |
Permian Resources Corp. | 33,274 | 452,526 | |
Pioneer Natural Resources Co. | 1,128 | 253,665 | |
ProPetro Holding Corp.* | 24,540 | 205,645 | |
Ramaco Resources, Inc. - Class A2 | 11,690 | 200,834 | |
Ramaco Resources, Inc. - Class B | 860 | 11,447 | |
Range Resources Corp. | 959 | 29,192 | |
REX American Resources Corp.* | 3,450 | 163,185 | |
RPC, Inc. | 3,960 | 28,829 | |
SandRidge Energy, Inc. | 2,136 | 29,199 | |
Seadrill Ltd.* | 1,210 | 57,209 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
ENERGY (Continued) | |||
SilverBow Resources, Inc.* | 900 | $26,172 | |
SM Energy Co. | 5,644 | 218,536 | |
SunCoke Energy, Inc. | 26,870 | 288,584 | |
Talos Energy, Inc.* | 9,388 | 133,591 | |
Targa Resources Corp. | 3,610 | 313,601 | |
TechnipFMC PLC | 22,830 | 459,796 | |
Tidewater, Inc.* | 850 | 61,293 | |
Transocean Ltd.* | 35,583 | 225,952 | |
U.S. Silica Holdings, Inc.* | 11,839 | 133,899 | |
VAALCO Energy, Inc. | 15,500 | 69,595 | |
Vital Energy, Inc.* | 1,350 | 61,411 | |
Warrior Met Coal, Inc. | 9,615 | 586,227 | |
Weatherford International PLC* | 1,230 | 120,331 | |
16,549,057 | |||
FINANCIAL — 27.1% | |||
1st Source Corp. | 5,572 | 306,181 | |
Air Lease Corp. | 22,794 | 955,980 | |
Amalgamated Financial Corp. | 2,210 | 59,537 | |
Ambac Financial Group, Inc.* | 6,390 | 105,307 | |
Amerant Bancorp, Inc. | 1,650 | 40,540 | |
American Equity Investment Life Holding Co.* | 29,372 | 1,638,958 | |
American National Bankshares, Inc. | 560 | 27,300 | |
Ameris Bancorp | 7,392 | 392,146 | |
AMERISAFE, Inc. | 1,540 | 72,041 | |
Anywhere Real Estate, Inc.* | 8,950 | 72,584 | |
Associated Banc-Corp | 28,940 | 619,027 | |
Assured Guaranty Ltd. | 12,078 | 903,797 | |
Atlantic Union Bankshares Corp. | 15,553 | 568,307 | |
Axis Capital Holdings Ltd. | 8,535 | 472,583 | |
Axos Financial, Inc.* | 5,295 | 289,107 | |
Banc of California, Inc. | 9,080 | 121,944 | |
BancFirst Corp. | 484 | 47,108 | |
Bancorp, Inc.* | 2,467 | 95,127 | |
Bank of Hawaii Corp.2 | 2,141 | 155,137 | |
Bank of NT Butterfield & Son Ltd. | 1,180 | 37,772 | |
Bank OZK | 16,329 | 813,674 | |
Bank7 Corp. | 770 | 21,059 | |
BankFinancial Corp. | 3,130 | 32,114 | |
BankUnited, Inc. | 11,844 | 384,101 | |
Banner Corp. | 6,890 | 369,028 | |
Bar Harbor Bankshares | 1,790 | 52,554 | |
BCB Bancorp, Inc. | 2,950 | 37,907 | |
Berkshire Hills Bancorp, Inc. | 6,346 | 157,571 | |
Bread Financial Holdings, Inc. | 5,840 | 192,370 | |
Brighthouse Financial, Inc.* | 9,942 | 526,131 | |
Brookline Bancorp, Inc. | 13,105 | 142,976 | |
Business First Bancshares, Inc. | 1,650 | 40,672 | |
Byline Bancorp, Inc. | 2,860 | 67,382 | |
C&F Financial Corp. | 710 | 48,415 | |
Cadence Bank | 16,541 | 489,448 | |
Camden National Corp. | 691 | 26,002 | |
Capital City Bank Group, Inc. | 1,190 | 35,022 | |
Capitol Federal Financial, Inc. | 13,300 | 85,785 | |
Carter Bankshares, Inc.* | 1,610 | 24,102 |
4
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2023 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
FINANCIAL (Continued) | |||
Cathay General Bancorp | 8,740 | $389,542 | |
Central Pacific Financial Corp. | 1,380 | 27,158 | |
Central Valley Community Bancorp | 1,800 | 40,230 | |
Chemung Financial Corp. | 680 | 33,864 | |
City Holding Co. | 2,059 | 227,025 | |
CNB Financial Corp. | 2,560 | 57,830 | |
CNO Financial Group, Inc. | 27,099 | 756,062 | |
Columbia Banking System, Inc. | 14,571 | 388,754 | |
Comerica, Inc. | 640 | 35,718 | |
Community Bank System, Inc. | 2,612 | 136,111 | |
Community Trust Bancorp, Inc. | 1,470 | 64,474 | |
ConnectOne Bancorp, Inc. | 6,500 | 148,915 | |
Consumer Portfolio Services, Inc.* | 3,597 | 33,704 | |
CrossFirst Bankshares, Inc.* | 3,800 | 51,604 | |
Cushman & Wakefield PLC* | 10,460 | 112,968 | |
Customers Bancorp, Inc.* | 9,915 | 571,302 | |
CVB Financial Corp. | 5,870 | 118,515 | |
Dime Community Bancshares, Inc. | 6,509 | 175,287 | |
Donegal Group, Inc. - Class A | 1,421 | 19,880 | |
Eagle Bancorp, Inc. | 797 | 24,022 | |
Employers Holdings, Inc. | 5,819 | 229,269 | |
Enact Holdings, Inc. | 2,253 | 65,089 | |
Encore Capital Group, Inc.* | 6,460 | 327,845 | |
Enova International, Inc.* | 6,105 | 337,973 | |
Enstar Group Ltd.* | 1,260 | 370,881 | |
Enterprise Financial Services Corp. | 2,385 | 106,490 | |
Esquire Financial Holdings, Inc. | 1,059 | 52,908 | |
ESSA Bancorp, Inc. | 960 | 19,219 | |
Essent Group Ltd. | 6,727 | 354,782 | |
Evercore, Inc. - Class A | 640 | 109,472 | |
EZCORP, Inc. - Class A* | 16,920 | 147,881 | |
Federal Agricultural Mortgage Corp. - Class C | 1,978 | 378,233 | |
Financial Institutions, Inc. | 2,250 | 47,925 | |
First BanCorp/Puerto Rico | 52,310 | 860,499 | |
First Bancorp/Southern Pines NC | 2,038 | 75,426 | |
First Bancshares, Inc. | 566 | 16,601 | |
First Bank/Hamilton NJ | 1,170 | 17,199 | |
First Busey Corp. | 5,489 | 136,237 | |
First Business Financial Services, Inc. | 1,320 | 52,932 | |
First Commonwealth Financial Corp. | 21,140 | 326,402 | |
First Community Bankshares, Inc. | 1,750 | 64,925 | |
First Financial Bancorp | 20,709 | 491,839 | |
First Financial Corp. | 1,821 | 78,358 | |
First Financial Northwest, Inc. | 1,360 | 18,333 | |
First Horizon Corp. | 4,782 | 67,713 | |
First Internet Bancorp | 2,390 | 57,814 | |
First Interstate BancSystem, Inc. - Class A | 4,906 | 150,859 | |
First Merchants Corp. | 6,962 | 258,151 | |
First Mid Bancshares, Inc. | 1,992 | 69,043 | |
Flushing Financial Corp. | 4,110 | 67,733 | |
FNB Corp. | 38,057 | 524,045 | |
FRP Holdings, Inc.* | 1,070 | 67,282 | |
FS Bancorp, Inc. | 1,120 | 41,395 | |
Fulton Financial Corp. | 40,311 | 663,519 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
FINANCIAL (Continued) | |||
Genworth Financial, Inc. - Class A* | 117,458 | $784,619 | |
Glacier Bancorp, Inc. | 2,150 | 88,838 | |
Great Southern Bancorp, Inc. | 2,295 | 136,208 | |
Hancock Whitney Corp. | 17,453 | 848,041 | |
Hanmi Financial Corp. | 9,080 | 176,152 | |
Hanover Insurance Group, Inc. | 240 | 29,141 | |
Heartland Financial USA, Inc. | 5,040 | 189,554 | |
Heritage Commerce Corp. | 6,040 | 59,917 | |
Heritage Financial Corp. | 1,618 | 34,609 | |
Hilltop Holdings, Inc. | 11,342 | 399,352 | |
Home Bancorp, Inc. | 940 | 39,489 | |
HomeStreet, Inc. | 3,890 | 40,067 | |
Hope Bancorp, Inc. | 19,307 | 233,229 | |
Horace Mann Educators Corp. | 10,261 | 335,535 | |
Horizon Bancorp, Inc. | 3,741 | 53,534 | |
Howard Hughes Holdings, Inc.* | 4,619 | 395,155 | |
Independent Bank Corp. | 2,580 | 67,132 | |
Independent Bank Corp. | 1,755 | 115,497 | |
Independent Bank Group, Inc. | 5,245 | 266,866 | |
International Bancshares Corp. | 12,305 | 668,408 | |
Invesco Ltd. | 9,240 | 164,842 | |
Jackson Financial, Inc. - Class A | 13,913 | 712,346 | |
Janus Henderson Group PLC | 10,032 | 302,465 | |
Kearny Financial Corp. | 12,802 | 114,834 | |
Kemper Corp. | 2,100 | 102,207 | |
Kennedy-Wilson Holdings, Inc. | 10,255 | 126,957 | |
Lakeland Bancorp, Inc. | 10,935 | 161,729 | |
Legacy Housing Corp.* | 676 | 17,049 | |
LendingClub Corp.* | 7,360 | 64,326 | |
Live Oak Bancshares, Inc. | 3,380 | 153,790 | |
Marcus & Millichap, Inc. | 3,920 | 171,226 | |
McGrath RentCorp | 2,445 | 292,471 | |
Mercantile Bank Corp. | 1,560 | 62,993 | |
Merchants Bancorp | 640 | 27,251 | |
Mercury General Corp. | 2,152 | 80,291 | |
Metropolitan Bank Holding Corp.* | 560 | 31,013 | |
MGIC Investment Corp. | 31,090 | 599,726 | |
Midland States Bancorp, Inc. | 3,660 | 100,870 | |
MidWestOne Financial Group, Inc. | 1,400 | 37,674 | |
Mr Cooper Group, Inc.* | 13,692 | 891,623 | |
National Western Life Group, Inc. - Class A | 510 | 246,340 | |
Navient Corp. | 33,364 | 621,238 | |
NBT Bancorp, Inc. | 700 | 29,337 | |
Nelnet, Inc. - Class A | 5,820 | 513,440 | |
New York Community Bancorp, Inc. | 76,741 | 785,060 | |
Newmark Group, Inc. - Class A | 7,310 | 80,118 | |
NMI Holdings, Inc. - Class A* | 15,117 | 448,673 | |
Northeast Bank | 1,190 | 65,676 | |
Northfield Bancorp, Inc. | 5,760 | 72,461 | |
Northrim BanCorp, Inc. | 1,860 | 106,411 | |
Northwest Bancshares, Inc. | 23,181 | 289,299 | |
Oak Valley Bancorp | 1,810 | 54,209 | |
OceanFirst Financial Corp. | 9,591 | 166,500 | |
OFG Bancorp | 14,850 | 556,578 | |
Old National Bancorp | 40,696 | 687,355 |
5
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2023 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
FINANCIAL (Continued) | |||
Old Second Bancorp, Inc. | 2,780 | $42,923 | |
OneMain Holdings, Inc. | 2,350 | 115,620 | |
Oppenheimer Holdings, Inc. - Class A | 2,050 | 84,706 | |
Pacific Premier Bancorp, Inc. | 18,590 | 541,155 | |
Park National Corp. | 185 | 24,579 | |
Pathward Financial, Inc. | 3,445 | 182,344 | |
PCB Bancorp | 3,540 | 65,242 | |
Peapack-Gladstone Financial Corp. | 3,435 | 102,432 | |
PennyMac Financial Services, Inc. | 6,607 | 583,861 | |
Peoples Bancorp, Inc. | 6,043 | 204,012 | |
Peoples Financial Services Corp. | 780 | 37,986 | |
Pinnacle Financial Partners, Inc. | 2,127 | 185,517 | |
Piper Sandler Cos. | 1,943 | 339,772 | |
Popular, Inc. | 9,530 | 782,127 | |
PRA Group, Inc.* | 3,100 | 81,220 | |
Preferred Bank/Los Angeles CA | 3,270 | 238,873 | |
Premier Financial Corp. | 5,144 | 123,970 | |
Primerica, Inc. | 300 | 61,728 | |
Primis Financial Corp. | 2,444 | 30,941 | |
ProAssurance Corp. | 11,325 | 156,172 | |
Provident Financial Holdings, Inc. | 1,180 | 14,880 | |
Provident Financial Services, Inc. | 20,160 | 363,485 | |
QCR Holdings, Inc. | 1,667 | 97,336 | |
Radian Group, Inc. | 15,052 | 429,735 | |
RE/MAX Holdings, Inc. - Class A | 3,229 | 43,043 | |
Regional Management Corp. | 3,380 | 84,770 | |
Renasant Corp. | 11,493 | 387,084 | |
Republic Bancorp, Inc. - Class A | 1,290 | 71,156 | |
S&T Bancorp, Inc. | 2,273 | 75,964 | |
Safety Insurance Group, Inc. | 2,230 | 169,458 | |
Sandy Spring Bancorp, Inc. | 4,031 | 109,804 | |
Seacoast Banking Corp. of Florida | 3,015 | 85,807 | |
Selective Insurance Group, Inc. | 3,041 | 302,519 | |
Sierra Bancorp | 2,330 | 52,541 | |
Simmons First National Corp. - Class A | 17,587 | 348,926 | |
SiriusPoint Ltd.* | 14,610 | 169,476 | |
SmartFinancial, Inc. | 1,270 | 31,102 | |
Southside Bancshares, Inc. | 1,366 | 42,783 | |
SouthState Corp. | 4,413 | 372,678 | |
Stellar Bancorp, Inc. | 2,529 | 70,407 | |
Stewart Information Services Corp. | 2,660 | 156,275 | |
Stifel Financial Corp. | 3,100 | 214,365 | |
Stock Yards Bancorp, Inc. | 840 | 43,252 | |
StoneX Group, Inc.* | 3,286 | 242,605 | |
Summit Financial Group, Inc. | 2,771 | 85,042 | |
Texas Capital Bancshares, Inc.* | 9,492 | 613,468 | |
Timberland Bancorp, Inc. | 1,578 | 49,644 | |
Tiptree, Inc. | 9,480 | 179,741 | |
Tompkins Financial Corp. | 1,369 | 82,455 | |
Towne Bank/Portsmouth VA | 2,010 | 59,818 | |
TriCo Bancshares | 2,193 | 94,233 | |
TrustCo Bank Corp. NY | 2,420 | 75,141 | |
Trustmark Corp. | 8,127 | 226,581 | |
United Bankshares, Inc. | 11,352 | 426,268 | |
United Community Banks, Inc. | 6,602 | 193,174 | |
United Fire Group, Inc. | 3,030 | 60,964 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
FINANCIAL (Continued) | |||
Universal Insurance Holdings, Inc. | 3,770 | $60,245 | |
Univest Financial Corp. | 5,540 | 122,046 | |
Unum Group | 16,606 | 750,923 | |
Valley National Bancorp | 38,873 | 422,161 | |
Veritex Holdings, Inc. | 1,300 | 30,251 | |
Virtus Investment Partners, Inc. | 558 | 134,902 | |
WaFd, Inc. | 20,570 | 677,987 | |
Walker & Dunlop, Inc. | 2,054 | 228,014 | |
Waterstone Financial, Inc. | 4,634 | 65,803 | |
Webster Financial Corp. | 7,689 | 390,294 | |
WesBanco, Inc. | 10,891 | 341,651 | |
Westamerica BanCorp | 1,630 | 91,948 | |
Western Alliance Bancorp | 1,706 | 112,238 | |
White Mountains Insurance Group Ltd. | 295 | 443,978 | |
Wintrust Financial Corp. | 5,134 | 476,178 | |
World Acceptance Corp.* | 540 | 70,486 | |
WSFS Financial Corp. | 7,531 | 345,899 | |
49,369,918 | |||
INDUSTRIAL — 18.4% | |||
AAON, Inc. | 780 | 57,619 | |
AAR Corp.* | 8,900 | 555,360 | |
Acuity Brands, Inc. | 140 | 28,676 | |
Air Transport Services Group, Inc.* | 6,690 | 117,811 | |
Alamo Group, Inc. | 640 | 134,522 | |
American Woodmark Corp.* | 2,943 | 273,258 | |
Apogee Enterprises, Inc. | 1,760 | 94,002 | |
Applied Industrial Technologies, Inc. | 490 | 84,618 | |
ArcBest Corp. | 7,800 | 937,638 | |
Arcosa, Inc. | 5,709 | 471,792 | |
Ardmore Shipping Corp. | 6,820 | 96,094 | |
Aspen Aerogels, Inc.* | 1,540 | 24,301 | |
Astec Industries, Inc. | 4,577 | 170,264 | |
Atkore, Inc.* | 1,035 | 165,600 | |
Avnet, Inc. | 12,236 | 616,694 | |
AZEK Co., Inc.* | 2,980 | 113,985 | |
AZZ, Inc. | 1,200 | 69,708 | |
Barnes Group, Inc. | 9,027 | 294,551 | |
Bel Fuse, Inc. - Class B | 2,710 | 180,947 | |
Belden, Inc. | 590 | 45,578 | |
Benchmark Electronics, Inc. | 10,280 | 284,139 | |
Boise Cascade Co. | 8,754 | 1,132,417 | |
Brady Corp. - Class A | 1,955 | 114,739 | |
Clearwater Paper Corp.* | 3,575 | 129,129 | |
Coherent Corp.* | 903 | 39,308 | |
Columbus McKinnon Corp. | 5,120 | 199,782 | |
Comfort Systems USA, Inc. | 609 | 125,253 | |
Comtech Telecommunications Corp. | 4,020 | 33,889 | |
Concrete Pumping Holdings, Inc.* | 4,970 | 40,754 | |
Costamare, Inc. | 20,907 | 217,642 | |
Covenant Logistics Group, Inc. | 1,962 | 90,330 | |
DHT Holdings, Inc. | 48,850 | 479,218 | |
Dorian LPG Ltd. | 11,683 | 512,533 | |
Ducommun, Inc.* | 2,697 | 140,406 | |
DXP Enterprises, Inc.* | 1,480 | 49,876 | |
Eagle Bulk Shipping, Inc. | 2,870 | 158,998 | |
Eagle Materials, Inc. | 430 | 87,221 |
6
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2023 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
INDUSTRIAL (Continued) | |||
EMCOR Group, Inc. | 908 | $195,610 | |
Encore Wire Corp. | 5,815 | 1,242,084 | |
EnerSys | 1,780 | 179,709 | |
Enpro, Inc. | 4,415 | 692,007 | |
Enviri Corp.* | 8,040 | 72,360 | |
Esab Corp. | 7,113 | 616,128 | |
ESCO Technologies, Inc. | 2,801 | 327,801 | |
Federal Signal Corp. | 4,918 | 377,407 | |
Flowserve Corp. | 2,450 | 100,989 | |
Fluor Corp.* | 1,739 | 68,117 | |
Frontdoor, Inc.* | 8,130 | 286,339 | |
Frontline PLC2 | 25,034 | 501,932 | |
GATX Corp. | 8,215 | 987,607 | |
Genco Shipping & Trading Ltd. | 11,595 | 192,361 | |
Gibraltar Industries, Inc.* | 5,089 | 401,929 | |
Granite Construction, Inc. | 6,993 | 355,664 | |
Great Lakes Dredge & Dock Corp.* | 11,840 | 90,931 | |
Greenbrier Cos., Inc. | 8,985 | 396,957 | |
Greif, Inc. - Class A | 5,210 | 341,724 | |
Griffon Corp. | 6,350 | 387,032 | |
Hayward Holdings, Inc.* | 7,676 | 104,394 | |
Heartland Express, Inc. | 2,240 | 31,942 | |
Hillenbrand, Inc. | 2,247 | 107,519 | |
Hub Group, Inc. - Class A* | 9,780 | 899,173 | |
Ichor Holdings Ltd.* | 4,558 | 153,286 | |
International Seaways, Inc. | 9,804 | 445,886 | |
Intevac, Inc.* | 6,420 | 27,734 | |
Itron, Inc.* | 740 | 55,877 | |
JELD-WEN Holding, Inc.* | 3,420 | 64,570 | |
John Bean Technologies Corp. | 230 | 22,874 | |
Kennametal, Inc. | 7,425 | 191,491 | |
Kimball Electronics, Inc.* | 6,580 | 177,331 | |
Kirby Corp.* | 5,141 | 403,466 | |
Knowles Corp.* | 16,595 | 297,216 | |
Kratos Defense & Security Solutions, Inc.* | 4,492 | 91,143 | |
Louisiana-Pacific Corp. | 1,330 | 94,204 | |
LSB Industries, Inc.* | 1,910 | 17,782 | |
LSI Industries, Inc. | 5,860 | 82,509 | |
Manitowoc Co., Inc.* | 6,980 | 116,496 | |
Marten Transport Ltd. | 20,425 | 428,516 | |
MasTec, Inc.* | 600 | 45,432 | |
Materion Corp. | 3,654 | 475,495 | |
Matson, Inc. | 4,661 | 510,846 | |
Mistras Group, Inc.* | 6,030 | 44,140 | |
Modine Manufacturing Co.* | 14,142 | 844,277 | |
Moog, Inc. - Class A | 1,455 | 210,655 | |
Mueller Industries, Inc. | 8,100 | 381,915 | |
MYR Group, Inc.* | 2,733 | 395,274 | |
National Presto Industries, Inc. | 460 | 36,929 | |
NL Industries, Inc. | 5,450 | 30,575 | |
Nordic American Tankers Ltd. | 8,300 | 34,860 | |
Northwest Pipe Co.* | 1,917 | 58,008 | |
nVent Electric PLC | 4,145 | 244,928 | |
O-I Glass, Inc.* | 13,045 | 213,677 | |
Olympic Steel, Inc. | 3,399 | 226,713 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
INDUSTRIAL (Continued) | |||
Overseas Shipholding Group, Inc. - Class A | 14,280 | $75,256 | |
PAM Transportation Services, Inc.* | 1,454 | 30,214 | |
Park-Ohio Holdings Corp. | 1,410 | 38,014 | |
Plexus Corp.* | 3,930 | 424,951 | |
Powell Industries, Inc. | 1,400 | 123,760 | |
Primoris Services Corp. | 7,250 | 240,772 | |
Proto Labs, Inc.* | 1,720 | 67,011 | |
RBC Bearings, Inc.* | 160 | 45,582 | |
Regal Rexnord Corp. | 3,366 | 498,235 | |
Ryder System, Inc. | 2,573 | 296,049 | |
Ryerson Holding Corp. | 4,669 | 161,921 | |
Saia, Inc.* | 130 | 56,969 | |
Sanmina Corp.* | 17,381 | 892,862 | |
Schneider National, Inc. - Class B | 5,700 | 145,065 | |
Scorpio Tankers, Inc. | 9,446 | 574,317 | |
SFL Corp. Ltd. | 3,130 | 35,306 | |
SmartRent, Inc.* | 11,010 | 35,122 | |
Smith & Wesson Brands, Inc. | 9,320 | 126,379 | |
SPX Technologies, Inc.* | 3,165 | 319,697 | |
Standex International Corp. | 550 | 87,109 | |
Sterling Infrastructure, Inc.* | 2,470 | 217,187 | |
Sturm Ruger & Co., Inc. | 359 | 16,317 | |
Summit Materials, Inc. - Class A* | 17,038 | 655,281 | |
TD SYNNEX Corp. | 1,180 | 126,980 | |
Teekay Corp.* | 13,522 | 96,682 | |
Teekay Tankers Ltd. - Class A | 5,263 | 262,992 | |
Terex Corp. | 3,295 | 189,331 | |
Thermon Group Holdings, Inc.* | 3,370 | 109,761 | |
Timken Co. | 1,905 | 152,686 | |
TimkenSteel Corp.* | 11,432 | 268,080 | |
TopBuild Corp.* | 215 | 80,466 | |
TriMas Corp. | 6,050 | 153,247 | |
Trinity Industries, Inc. | 14,845 | 394,729 | |
TTM Technologies, Inc.* | 35,084 | 554,678 | |
UFP Industries, Inc. | 5,070 | 636,538 | |
Vishay Intertechnology, Inc. | 27,399 | 656,754 | |
Watts Water Technologies, Inc. - Class A | 440 | 91,670 | |
Werner Enterprises, Inc. | 10,110 | 428,361 | |
Willis Lease Finance Corp.* | 1,740 | 85,051 | |
World Kinect Corp. | 9,090 | 207,070 | |
Worthington Enterprises, Inc. | 2,520 | 145,026 | |
Xometry, Inc. - Class A* | 1,530 | 54,942 | |
33,608,893 | |||
TECHNOLOGY — 3.7% | |||
ACI Worldwide, Inc.* | 890 | 27,234 | |
Adeia, Inc. | 16,957 | 210,097 | |
Alpha & Omega Semiconductor Ltd.* | 6,665 | 173,690 | |
Amkor Technology, Inc. | 38,096 | 1,267,454 | |
ASGN, Inc.* | 570 | 54,817 | |
Axcelis Technologies, Inc.* | 797 | 103,363 | |
CACI International, Inc. - Class A* | 1,589 | 514,614 | |
Cardlytics, Inc.* | 6,420 | 59,128 | |
Cerence, Inc.* | 1,060 | 20,840 | |
Cohu, Inc.* | 4,382 | 155,079 |
7
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2023 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
TECHNOLOGY (Continued) | |||
Concentrix Corp. | 220 | $21,606 | |
Conduent, Inc.* | 19,850 | 72,452 | |
Digi International, Inc.* | 5,215 | 135,590 | |
Diodes, Inc.* | 827 | 66,590 | |
Donnelley Financial Solutions, Inc.* | 1,040 | 64,865 | |
ExlService Holdings, Inc.* | 1,000 | 30,850 | |
Insight Enterprises, Inc.* | 6,225 | 1,103,008 | |
IPG Photonics Corp.* | 525 | 56,983 | |
Kulicke & Soffa Industries, Inc. | 2,858 | 156,390 | |
Maximus, Inc. | 480 | 40,253 | |
NetScout Systems, Inc.* | 13,590 | 298,300 | |
Onto Innovation, Inc.* | 1,054 | 161,157 | |
PAR Technology Corp.* | 903 | 39,317 | |
Parsons Corp.* | 1,620 | 101,590 | |
Photronics, Inc.* | 13,193 | 413,864 | |
Rambus, Inc.* | 5,125 | 349,781 | |
Richardson Electronics Ltd./United States | 2,340 | 31,239 | |
Semtech Corp.* | 2,671 | 58,522 | |
Silicon Laboratories, Inc.* | 360 | 47,617 | |
Super Micro Computer, Inc.* | 1,716 | 487,790 | |
Ultra Clean Holdings, Inc.* | 3,520 | 120,173 | |
Upland Software, Inc.* | 8,550 | 36,166 | |
Veradigm, Inc.* | 18,109 | 189,963 | |
Vishay Precision Group, Inc.* | 2,480 | 84,494 | |
Xerox Holdings Corp. | 1,520 | 27,862 | |
6,782,738 | |||
UTILITIES — 0.5% | |||
American States Water Co. | 460 | 36,993 | |
Brookfield Infrastructure Corp. - Class A | 3,373 | 118,999 | |
California Water Service Group | 582 | 30,188 | |
Genie Energy Ltd. - Class B | 1,720 | 48,384 | |
IDACORP, Inc. | 330 | 32,446 | |
MGE Energy, Inc. | 354 | 25,598 | |
New Jersey Resources Corp. | 2,626 | 117,067 | |
NRG Energy, Inc. | 2,572 | 132,972 | |
ONE Gas, Inc. | 840 | 53,525 | |
Ormat Technologies, Inc. | 671 | 50,855 | |
Otter Tail Corp. | 1,531 | 130,089 | |
SJW Group | 840 | 54,894 | |
832,010 | |||
TOTAL COMMON STOCKS | |||
(Cost $111,251,121) | 174,369,600 | ||
EXCHANGE-TRADED FUNDS — 2.6% | |||
Direxion Daily Homebuilders & Supplies Bull 3x Shares ETF | 3,698 | 405,744 | |
Direxion Daily Regional Banks Bull 3x Shares ETF | 1,840 | 178,903 | |
Direxion Daily S&P Biotech Bull 3X Shares ETF | 1,011 | 123,312 | |
Direxion Daily Small Cap Bull 3X Shares ETF | 25,094 | 989,958 | |
iShares Russell 2000 Value ETF | 6,615 | 1,027,508 | |
iShares S&P Small-Cap 600 Value ETF | 5,670 | 584,407 |
Number of Shares | Value | ||
EXCHANGE-TRADED FUNDS (Continued) | |||
ProShares UltraPro Russell2000 ETF2 | 4,601 | $213,348 | |
SPDR S&P Regional Banking ETF2 | 19,183 | 1,005,765 | |
VanEck Oil Services ETF | 490 | 151,665 | |
TOTAL EXCHANGE-TRADED FUNDS | |||
(Cost $3,382,528) | 4,680,610 | ||
PREFERRED STOCKS — 0.1% | |||
CONSUMER, CYCLICAL — 0.1% | |||
Qurate Retail, Inc. 8.00%, 3/15/20313 | 274 | 9,853 | |
WESCO International, Inc. 10.63%3,4,5 | 5,008 | 132,311 | |
142,164 | |||
INDUSTRIAL — 0.0% | |||
Steel Partners Holdings LP 6.00%, 2/7/20263 | 1,855 | 42,480 | |
TOTAL PREFERRED STOCKS | |||
(Cost $188,490) | 184,644 | ||
WARRANTS — 0.0% | |||
BASIC MATERIALS — 0.0% | |||
Resolute Forest Products, Inc., Expiration Date: December 31, 2025*1 | 12,820 | — | |
CONSUMER, NON-CYCLICAL — 0.0% | |||
Akouos, Inc., Expiration Date: December 5, 2024*1 | 5,159 | — | |
Jounce Therapeutics, Expiration Date: December 31, 2025*1 | 18,810 | — | |
— | |||
TOTAL WARRANTS | |||
(Cost $0) | — | ||
MONEY MARKET INVESTMENTS — 2.7% | |||
Federated Treasury Obligations Fund - Class Institutional, 5.14%4,6 | 500,000 | 500,000 | |
Fidelity Institutional Government Portfolio - Class I, 5.17%4 | 717,243 | 717,243 | |
Invesco Government & Agency Portfolio, 5.28%4,7 | 3,741,373 | 3,741,373 | |
TOTAL MONEY MARKET INVESTMENTS | |||
(Cost $4,958,616) | 4,958,616 | ||
TOTAL INVESTMENTS — 101.0% | |||
(Cost $119,780,755) | 184,193,470 | ||
Liabilities less other assets — (1.0)% | (1,748,703) | ||
TOTAL NET ASSETS — 100.0% | $182,444,767 |
LLC – Limited Liability Company |
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VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2023 (Unaudited)
LP – Limited Partnership |
PLC – Public Limited Company |
*Non-income producing security. |
1Security valued at fair value as determined by the investment adviser under the supervision of the Board of Trustees. Value determined using significant unobservable inputs. |
2All or a portion of shares are on loan. Total loaned securities had a fair value of $2,503,734 at December 31, 2023. |
3Callable. |
4Variable rate security; the rate shown represents the rate at December 31, 2023. |
5Perpetual security; maturity date is not applicable. |
6All or a portion of this security is segregated as collateral for options contracts. The total value of these securities is $500,000 at December 31, 2023. The Fund had option contracts transactions during the period ended December 31, 2023, however, due to the timing of these transactions, there were no open options contracts as of December 31, 2023. |
7Investments purchased with cash proceeds from securities lending. Total collateral had a fair value of $3,741,373 at December 31, 2023. |
9