Weiss Alternative Multi-Strategy Fund |
Schedule of Investments (Unaudited) |
January 31, 2024 |
Shares | Value | ||||||
Common Stocks — 64.70% | |||||||
Aerospace & Defense — 0.50% | |||||||
Boeing Co.(a) | 2,148 | $ | 453,315 | ||||
HEICO Corp. - Class A | 720 | 101,858 | |||||
L3Harris Technologies, Inc. | 1,930 | 402,251 | |||||
Lockheed Martin Corp. | 37 | 15,888 | |||||
TransDigm Group, Inc. | 102 | 111,453 | |||||
1,084,765 | |||||||
Air Freight & Logistics — 0.41% | |||||||
C.H. Robinson Worldwide, Inc. | 32 | 2,691 | |||||
DSV A/S(b) | 1,139 | 203,778 | |||||
Expeditors International of Washington, Inc. | 467 | 58,996 | |||||
FedEx Corp. | 358 | 86,382 | |||||
Hub Group, Inc. - Class A(a) | 6,924 | 313,519 | |||||
United Parcel Service, Inc. - Class B | 1,618 | 229,594 | |||||
894,960 | |||||||
Automobile Components — 0.11% | |||||||
BorgWarner, Inc. | 1,790 | 60,681 | |||||
Goodyear Tire & Rubber Co.(a) | 8,263 | 115,186 | |||||
Visteon Corp.(a) | 557 | 64,217 | |||||
240,084 | |||||||
Automobiles — 0.38% | |||||||
General Motors Co. | 21,605 | 838,274 | |||||
Banks — 2.49% | |||||||
Banc of California, Inc. | 16,160 | 222,685 | |||||
Bank of America Corp. | 6,623 | 225,248 | |||||
Banner Corp. | 3,952 | 184,084 | |||||
Citigroup, Inc. | 5,310 | 298,263 | |||||
Citizens Financial Group, Inc. | 8,110 | 265,197 | |||||
Columbia Banking System, Inc. | 13,653 | 275,244 | |||||
Comerica, Inc. | 5,103 | 268,316 | |||||
ConnectOne Bancorp, Inc. | 2,076 | 47,416 | |||||
First Citizens BancShares, Inc. - Class A | 296 | 446,960 | |||||
First Hawaiian, Inc. | 3,790 | 82,205 | |||||
First Horizon Corp. | 27,733 | 394,918 | |||||
Independent Bank Group, Inc. | 1,818 | 87,900 | |||||
Pacific Premier Bancorp, Inc. | 3,425 | 86,892 | |||||
PNC Financial Services Group, Inc. | 2,094 | 316,634 | |||||
Texas Capital Bancshares, Inc.(a) | 2,944 | 179,584 | |||||
Truist Financial Corp. | 19,099 | 707,810 | |||||
UniCredit SpA(b) | 6,415 | 187,908 | |||||
Valley National Bancorp | 24,129 | 232,121 | |||||
WaFd, Inc. | 1,526 | 44,315 | |||||
Webster Financial Corp. | 5,229 | 258,731 | |||||
Western Alliance Bancorp | 5,234 | 334,767 | |||||
Wintrust Financial Corp. | 2,769 | 268,538 | |||||
5,415,736 | |||||||
Beverages — 1.85% | |||||||
Coca-Cola Co.(c) | 35,788 | 2,129,029 | |||||
Coca-Cola Europacific Partners PLC(b) | 13,159 | 906,655 | |||||
Constellation Brands, Inc. - Class A(c) | 3,815 | 934,980 | |||||
Keurig Dr. Pepper, Inc. | 2,201 | 69,199 | |||||
4,039,863 | |||||||
Biotechnology — 1.54% | |||||||
89bio, Inc.(a) | 9,200 | 91,080 | |||||
AbbVie, Inc. | 137 | 22,523 | |||||
Abivax SA - ADR(a)(b) | 358 | 4,718 | |||||
Alkermes plc(a)(b) | 36 | 974 | |||||
Alnylam Pharmaceuticals, Inc.(a) | 31 | 5,360 | |||||
Arcutis Biotherapeutics, Inc.(a) | 10,740 | 63,044 | |||||
Argenx S.E. - ADR(a)(b) | 302 | 114,914 | |||||
Astria Therapeutics, Inc.(a) | 4,117 | 53,644 | |||||
Biogen, Inc.(a) | 1,206 | 297,471 | |||||
Biohaven Ltd.(a)(b) | 1,450 | 64,496 | |||||
BioMarin Pharmaceutical, Inc.(a) | 184 | 16,207 | |||||
Bridgebio Pharma, Inc.(a) | 1,504 | 51,572 | |||||
Cerevel Therapeutics Holdings, Inc.(a) | 34 | 1,425 | |||||
Cytokinetics, Inc.(a)(d) | 1,819 | 142,118 | |||||
Dynavax Technologies Corp.(a) | 989 | 12,778 | |||||
Exact Sciences Corp.(a) | 4,292 | 280,696 | |||||
Fusion Pharmaceuticals, Inc.(a)(b) | 4,903 | 56,973 | |||||
Heron Therapeutics, Inc.(a) | 3,312 | 7,982 | |||||
Immunovant, Inc.(a) | 2,711 | 98,708 | |||||
Incyte Corp.(a) | 384 | 22,568 | |||||
Insmed, Inc.(a) | 3,051 | 84,818 | |||||
Karuna Therapeutics, Inc.(a) | 37 | 11,597 | |||||
Karyopharm Therapeutics, Inc.(a) | 995 | 747 | |||||
Madrigal Pharmaceuticals, Inc.(a) | 646 | 139,995 | |||||
Merus N.V.(a)(b) | 392 | 13,987 | |||||
Moderna, Inc.(a) | 1,141 | 115,298 | |||||
Morphic Holding, Inc.(a) | 2,392 | 75,802 | |||||
Natera, Inc.(a) | 3,760 | 247,934 | |||||
Neurocrine Biosciences, Inc.(a) | 659 | 92,108 | |||||
RAPT Therapeutics, Inc.(a) | 1,805 | 44,674 | |||||
Regeneron Pharmaceuticals, Inc.(a) | 131 | 123,504 | |||||
Rigel Pharmaceuticals, Inc.(a) | 3,727 | 4,361 | |||||
Roivant Sciences Ltd.(a)(b) | 9,107 | 91,070 | |||||
Sarepta Therapeutics, Inc.(a) | 769 | 91,503 | |||||
Tango Therapeutics, Inc.(a) | 2,334 | 27,425 | |||||
Telix Pharmaceuticals Ltd.(a)(b) | 5,143 | 38,345 | |||||
TG Therapeutics, Inc.(a) | 1,448 | 23,516 | |||||
United Therapeutics Corp.(a) | 503 | 108,034 | |||||
Vera Therapeutics, Inc.(a) | 895 | 32,596 | |||||
Vertex Pharmaceuticals, Inc.(a) | 822 | 356,237 | |||||
Viking Therapeutics, Inc.(a) | 6,108 | 147,447 | |||||
Viridian Therapeutics, Inc.(a) | 3,610 | 69,493 | |||||
Xenon Pharmaceuticals, Inc.(a)(b) | 184 | 8,320 | |||||
3,358,062 | |||||||
Broadline Retail — 0.92% | |||||||
Alibaba Group Holding Ltd. - ADR(b)(d) | 467 | 33,703 | |||||
Amazon.com, Inc.(a) | 10,856 | 1,684,851 | |||||
MercadoLibre, Inc.(a) | 165 | 282,449 | |||||
2,001,003 | |||||||
Building Products — 0.27% | |||||||
Armstrong World Industries, Inc. | 817 | 81,055 | |||||
Builders FirstSource, Inc.(a) | 500 | 86,865 | |||||
Carlisle Cos., Inc. | 583 | 183,213 | |||||
Janus International Group, Inc.(a) | 7,180 | 101,597 | |||||
Masco Corp. | 1,255 | 84,449 | |||||
Trane Technologies PLC(b) | 165 | 41,588 | |||||
578,767 | |||||||
Capital Markets — 2.66% | |||||||
Affiliated Managers Group, Inc. | 2,366 | 352,155 | |||||
Allfunds Group PLC(b) | 13,252 | 95,006 | |||||
AllianceBernstein Holding LP | 50,673 | 1,700,079 | |||||
Ameriprise Financial, Inc. | 144 | 55,704 | |||||
Bank of New York Mellon Corp. | 2,760 | 153,070 | |||||
BGC Group, Inc. - Class A | 136,492 | 963,634 | |||||
Blue Owl Capital, Inc. - Class A | 9,064 | 140,855 | |||||
Brightsphere Investment Group, Inc. | 8,069 | 178,486 | |||||
Brookfield Asset Management Ltd. – Class A(b) | 3,392 | 136,324 | |||||
Evercore, Inc. - Class A | 680 | 116,776 | |||||
Federated Hermes, Inc. | 1,103 | 38,561 | |||||
Goldman Sachs Group, Inc. | 591 | 226,950 | |||||
Intercontinental Exchange, Inc. | 373 | 47,494 | |||||
Invesco Ltd.(b) | 7,202 | 114,008 | |||||
KKR & Co., Inc. | 4,117 | 356,450 | |||||
Lazard, Inc. | 10,340 | 403,053 | |||||
LPL Financial Holdings, Inc. | 1,171 | 280,091 | |||||
Nasdaq, Inc. | 4,041 | 233,449 | |||||
Northern Trust Corp. | 1,463 | 116,513 | |||||
Tradeweb Markets, Inc. - Class A | 949 | 90,525 | |||||
5,799,183 | |||||||
Chemicals — 0.37% | |||||||
Air Products and Chemicals, Inc. | 164 | 41,936 | |||||
Albemarle Corp. | 287 | 32,930 | |||||
Chemours Co. | 4,461 | 134,588 | |||||
Corteva, Inc. | 1,611 | 73,268 | |||||
Dow, Inc. | 3,971 | 212,846 | |||||
PureCycle Technologies, Inc.(a) | 15,736 | 61,685 | |||||
RPM International, Inc. | 820 | 87,461 | |||||
Sherwin-Williams Co. | 324 | 98,619 | |||||
Tronox Holdings PLC(b) | 1,279 | 17,637 | |||||
Westlake Corp. | 365 | 50,498 | |||||
811,468 | |||||||
Commercial Services & Supplies — 0.06% | |||||||
Driven Brands Holdings, Inc.(a) | 2,361 | 30,953 | |||||
GEO Group, Inc.(a) | 8,644 | 96,121 | |||||
127,074 | |||||||
Communications Equipment — 0.61% | |||||||
ADTRAN Holdings, Inc. | 41,291 | 258,688 | |||||
Calix, Inc.(a) | 2,685 | 89,088 | |||||
Ciena Corp.(a) | 3,620 | 191,860 | |||||
CommScope Holding Co., Inc.(a) | 344,627 | 799,535 | |||||
1,339,171 | |||||||
Construction & Engineering — 0.21% | |||||||
Dycom Industries, Inc.(a) | 4,138 | 462,215 | |||||
Construction Materials — 0.09% | |||||||
CRH PLC(b) | 1,186 | 85,107 | |||||
Martin Marietta Materials, Inc. | 181 | 92,024 | |||||
Vulcan Materials Co. | 101 | 22,827 | |||||
199,958 | |||||||
Consumer Finance — 0.28% | |||||||
Ally Financial, Inc. | 2,417 | 88,655 | |||||
Discover Financial Services | 2,055 | 216,844 | |||||
Encore Capital Group, Inc.(a) | 3,549 | 177,734 | |||||
FirstCash Holdings, Inc. | 1,172 | 134,510 | |||||
617,743 | |||||||
Consumer Staples Distribution & Retail — 1.16% | |||||||
Casey's General Stores, Inc. | 2,001 | 542,990 | |||||
Dollar General Corp. | 965 | 127,448 | |||||
Dollar Tree, Inc.(a) | 140 | 18,287 | |||||
Grocery Outlet Holding Corp.(a) | 6,936 | 171,874 | |||||
Performance Food Group Co.(a) | 7,013 | 509,705 | |||||
Sysco Corp. | 6,089 | 492,783 | |||||
Target Corp. | 696 | 96,800 | |||||
Walgreens Boots Alliance, Inc. | 368 | 8,306 | |||||
Wal-Mart Stores, Inc. | 3,354 | 554,248 | |||||
2,522,441 | |||||||
Distributors — 0.10% | |||||||
Genuine Parts Co. | 953 | 133,639 | |||||
Pool Corp. | 207 | 76,849 | |||||
210,488 | |||||||
Diversified Consumer Services — 0.05% | |||||||
WW International, Inc.(a) | 26,566 | 99,888 | |||||
Diversified REITs — 0.43% | |||||||
Essential Properties Realty Trust, Inc. | 38,069 | 948,299 | |||||
Electrical Equipment — 0.89% | |||||||
Acuity Brands, Inc. | 96 | 22,863 | |||||
American Superconductor Corp.(a) | 716 | 7,876 | |||||
AMETEK, Inc. | 1,314 | 212,934 | |||||
Eaton Corp. PLC | 621 | 152,816 | |||||
Enovix Corp.(a) | 14,568 | 135,628 | |||||
Eos Energy Enterprises, Inc.(a) | 6,364 | 7,064 | |||||
Freyr Battery, Inc.(a) | 5,718 | 7,719 | |||||
Hubbell, Inc. | 712 | 238,926 | |||||
nVent Electric PLC(b) | 4,426 | 265,737 | |||||
Rockwell Automation, Inc. | 324 | 82,063 | |||||
Vertiv Holdings Co. - Class A | 14,372 | 809,574 | |||||
1,943,200 | |||||||
Electronic Equipment, Instruments & Components — 0.40% | |||||||
Coherent Corp.(a) | 6,440 | 306,158 | |||||
Corning, Inc. | 12,565 | 408,237 | |||||
Flex Ltd.(a) | 754 | 17,900 | |||||
TE Connectivity Ltd.(b) | 902 | 128,255 | |||||
860,550 | |||||||
Energy Equipment & Services — 1.99% | |||||||
Archrock, Inc. | 173 | 2,827 | |||||
Baker Hughes Co. | 387 | 11,029 | |||||
Borr Drilling Ltd.(b) | 397 | 2,442 | |||||
Bristow Group, Inc.(a) | 61 | 1,609 | |||||
ChampionX Corporation | 13,762 | 377,216 | |||||
Diamond Offshore Drilling, Inc.(a) | 218 | 2,660 | |||||
Dril-Quip, Inc.(a) | 342 | 6,864 | |||||
Expro Group Holdings NV(a)(b) | 14,571 | 256,450 | |||||
Halliburton Co. | 4,312 | 153,723 | |||||
Helix Energy Solutions Group, Inc.(a) | 8,373 | 78,706 | |||||
Liberty Energy, Inc. | 152 | 3,160 | |||||
Newpark Resources, Inc.(a) | 369 | 2,395 | |||||
Noble Corp. PLC(b) | 2,376 | 104,853 | |||||
NOV, Inc. | 252 | 4,917 | |||||
Oceaneering International, Inc.(a) | 22,934 | 476,569 | |||||
Oil States International, Inc.(a) | 269 | 1,660 | |||||
Patterson-UTI Energy, Inc. | 26,347 | 292,188 | |||||
Schlumberger N.V. Ltd.(b) | 13,134 | 639,626 | |||||
SEACOR Marine Holdings, Inc.(a) | 33 | 348 | |||||
TechnipFMC plc(b) | 8,682 | 167,910 | |||||
Tenaris SA - ADR(b) | 30,842 | 981,083 | |||||
Tidewater, Inc.(a) | 8,639 | 580,454 | |||||
Transocean Ltd.(a)(b) | 25,583 | 139,683 | |||||
U.S. Silica Holdings, Inc.(a) | 421 | 4,513 | |||||
USA Compression Partners LP | 1,119 | 27,919 | |||||
Weatherford International PLC(a)(b) | 28 | 2,507 | |||||
4,323,311 | |||||||
Entertainment — 0.62% | |||||||
AMC Entertainment Holdings, Inc. – Class A(a) | 504 | 2,041 | |||||
Cinemark Holdings, Inc.(a) | 4,347 | 60,119 | |||||
Cineplex, Inc.(a)(b) | 34 | 209 | |||||
Endeavor Group Holdings, Inc. - Class A(d) | 19,195 | 475,076 | |||||
Madison Square Garden Company(a) | 1,020 | 188,802 | |||||
Netflix, Inc.(a) | 190 | 107,181 | |||||
Take-Two Interactive Software, Inc.(a) | 1,695 | 279,556 | |||||
Walt Disney Co. | 1,365 | 131,108 | |||||
Warner Music Group Corp. - Class A | 2,880 | 105,091 | |||||
1,349,183 | |||||||
Financial Services — 1.10% | |||||||
Affirm Holdings, Inc.(a)(d) | 2,621 | 106,177 | |||||
Apollo Global Management, Inc. | 9,391 | 942,857 | |||||
Banca Mediolanum SpA(b) | 4,332 | 44,332 | |||||
Block, Inc.(a) | 1,074 | 69,821 | |||||
Corebridge Financial, Inc. | 8,758 | 211,681 | |||||
Equitable Holdings, Inc. | 8,542 | 279,239 | |||||
Global Payments, Inc. | 583 | 77,673 | |||||
I3 Verticals, Inc. - Class A(a) | 2,860 | 53,596 | |||||
Marqeta, Inc. - Class A(a)(d) | 8,078 | 48,549 | |||||
Mr. Cooper Group, Inc.(a) | 4,056 | 273,212 | |||||
PayPal Holdings, Inc.(a) | 405 | 24,847 | |||||
PennyMac Financial Services, Inc. | 1,574 | 137,284 | |||||
Shift4 Payments, Inc. - Class A(a) | 1,620 | 116,332 | |||||
2,385,600 | |||||||
Food Products — 1.39% | |||||||
Conagra Brands, Inc. | 4,339 | 126,482 | |||||
Flowers Foods, Inc. | 1,641 | 37,415 | |||||
Freshpet, Inc.(a) | 1,741 | 149,900 | |||||
Ingredion, Inc. | 3,216 | 345,945 | |||||
J.M. Smucker Co. | 3,695 | 486,077 | |||||
Kraft Heinz Co. | 13,243 | 491,713 | |||||
Lamb Weston Holdings, Inc. | 1,443 | 147,821 | |||||
Pilgrim's Pride Corp.(a) | 9,709 | 263,794 | |||||
Post Holdings, Inc.(a) | 3,032 | 281,582 | |||||
Tyson Foods, Inc. - Class A | 8,034 | 439,942 | |||||
Utz Brands, Inc. | 14,642 | 259,163 | |||||
3,029,834 | |||||||
Ground Transportation — 1.89% | |||||||
Avis Budget Group, Inc. | 4,942 | 809,056 | |||||
Canadian Pacific Kansas City Ltd.(b) | 1,796 | 144,524 | |||||
Covenant Logistics Group, Inc. | 2,487 | 120,222 | |||||
CSX Corp. | 3,590 | 128,163 | |||||
Heartland Express, Inc. | 2,493 | 32,284 | |||||
J.B. Hunt Transport Services, Inc. | 610 | 122,598 | |||||
Knight-Swift Transportation Holdings, Inc. | 2,640 | 151,483 | |||||
Landstar System, Inc. | 827 | 158,552 | |||||
Marten Transport Ltd. | 1,377 | 25,475 | |||||
Norfolk Southern Corp. | 4,830 | 1,136,210 | |||||
Old Dominion Freight Line, Inc. | 132 | 51,615 | |||||
Saia, Inc.(a) | 83 | 37,398 | |||||
TFI International, Inc.(b) | 179 | 23,533 | |||||
Uber Technologies, Inc.(a) | 716 | 46,733 | |||||
Union Pacific Corp. | 880 | 214,658 | |||||
Werner Enterprises, Inc. | 3,580 | 141,589 | |||||
XPO, Inc.(a) | 9,103 | 777,760 | |||||
4,121,853 | |||||||
Health Care Equipment & Supplies — 1.23% | |||||||
Boston Scientific Corp.(a) | 7,190 | 454,840 | |||||
DexCom, Inc.(a) | 281 | 34,099 | |||||
Edwards Lifesciences Corp.(a) | 562 | 44,100 | |||||
Enovis Corp.(a) | 5,635 | 330,775 | |||||
Globus Medical, Inc. - Class A(a) | 5,771 | 304,651 | |||||
Haemonetics Corp.(a) | 982 | 75,084 | |||||
IDEXX Laboratories, Inc.(a) | 8 | 4,121 | |||||
Inari Medical, Inc.(a) | 1,416 | 80,641 | |||||
Inspire Medical Systems, Inc.(a) | 534 | 112,605 | |||||
Intuitive Surgical, Inc.(a) | 32 | 12,103 | |||||
iRhythm Technologies, Inc.(a) | 98 | 11,738 | |||||
Masimo Corp.(a) | 478 | 61,633 | |||||
Medtronic plc(b) | 3,734 | 326,874 | |||||
Penumbra, Inc.(a) | 920 | 232,015 | |||||
RxSight, Inc.(a) | 368 | 16,748 | |||||
Shockwave Medical, Inc.(a) | 31 | 7,014 | |||||
Silk Road Medical, Inc.(a) | 263 | 3,979 | |||||
STAAR Surgical Co.(a) | 85 | 2,381 | |||||
Stryker Corp. | 492 | 165,056 | |||||
Tandem Diabetes Care, Inc.(a) | 5,610 | 127,908 | |||||
Teleflex, Inc. | 307 | 74,549 | |||||
Treace Medical Concepts, Inc.(a) | 736 | 9,921 | |||||
Zimmer Biomet Holdings, Inc. | 1,412 | 177,347 | |||||
2,670,182 | |||||||
Health Care Providers & Services — 0.59% | |||||||
BrightSpring Health Services, Inc.(a) | 897 | 9,885 | |||||
Centene Corp.(a) | 396 | 29,823 | |||||
Cigna Group/The | 36 | 10,834 | |||||
CVS Health Corp. | 360 | 26,773 | |||||
Elevance Health, Inc. | 33 | 16,283 | |||||
Guardant Health, Inc.(a) | 653 | 14,320 | |||||
HCA Holdings, Inc. | 729 | 222,272 | |||||
HealthEquity, Inc.(a) | 3,343 | 252,663 | |||||
Humana, Inc. | 801 | 302,825 | |||||
Option Care Health, Inc.(a) | 408 | 12,746 | |||||
Pennant Group, Inc.(a) | 197 | 2,957 | |||||
Privia Health Group, Inc.(a) | 1,472 | 29,676 | |||||
Progyny, Inc.(a) | 184 | 7,009 | |||||
Quest Diagnostics, Inc. | 125 | 16,054 | |||||
Surgery Partners, Inc.(a) | 3,489 | 107,077 | |||||
Universal Health Services, Inc. - Class B | 1,397 | 221,858 | |||||
1,283,055 | |||||||
Health Care REITs — 1.31% | |||||||
National Health Investors, Inc. | 6,748 | 358,859 | |||||
Sabra Health Care REIT, Inc. | 6,954 | 92,766 | |||||
Ventas, Inc.(c) | 51,922 | 2,408,662 | |||||
2,860,287 | |||||||
Health Care Technology — 0.34% | |||||||
Evolent Health, Inc. - Class A(a) | 11,922 | 350,626 | |||||
Phreesia, Inc.(a)(d) | 15,042 | 383,270 | |||||
733,896 | |||||||
Hotel & Resort REITs — 0.09% | |||||||
Host Hotels & Resorts, Inc. | 10,124 | 194,583 | |||||
Hotels, Restaurants & Leisure — 4.56% | |||||||
Bloomin' Brands, Inc. | 31,619 | 841,698 | |||||
Booking Holdings, Inc.(a) | 47 | 164,851 | |||||
Bowlero Corp. – Class A(a) | 3,067 | 33,154 | |||||
Boyd Gaming Corp. | 2,549 | 161,836 | |||||
Brinker International, Inc.(a) | 3,913 | 167,437 | |||||
Caesars Entertainment, Inc.(a) | 1,198 | 52,556 | |||||
Carnival Corp.(a)(b) | 17,912 | 296,981 | |||||
Cedar Fair LP | 2,013 | 82,070 | |||||
Cheesecake Factory, Inc. | 379 | 13,026 | |||||
Churchill Downs, Inc. | 9 | 1,089 | |||||
Cracker Barrel Old Country Store, Inc. | 988 | 76,422 | |||||
Domino's Pizza, Inc. | 1,251 | 533,201 | |||||
Dutch Bros, Inc. - Class A(a) | 19,317 | 518,661 | |||||
Expedia Group, Inc.(a) | 2,351 | 348,724 | |||||
Full House Resorts, Inc.(a) | 901 | 4,253 | |||||
Hilton Grand Vacations, Inc.(a) | 5,595 | 233,312 | |||||
Hilton Worldwide Holdings, Inc. | 1,979 | 377,910 | |||||
International Game Technology plc(b) | 27 | 701 | |||||
Jack in the Box, Inc. | 543 | 42,338 | |||||
Las Vegas Sands Corp. | 15,547 | 760,559 | |||||
Marriott International, Inc. - Class A | 974 | 233,497 | |||||
Papa John's International, Inc. | 7,864 | 577,847 | |||||
Penn Entertainment, Inc.(a)(d) | 42,842 | 966,087 | |||||
Planet Fitness, Inc. - Class A(a) | 457 | 30,966 | |||||
Restaurant Brands International, Inc.(b) | 5,783 | 451,537 | |||||
Royal Caribbean Cruises Ltd.(a)(b) | 8,096 | 1,032,239 | |||||
Six Flags Entertainment Corp.(a) | 3,278 | 82,638 | |||||
Sweetgreen, Inc. - Class A(a) | 92 | 983 | |||||
Vail Resorts, Inc. | 1,083 | 240,426 | |||||
Wyndham Hotels & Resorts, Inc. | 2,405 | 187,422 | |||||
Wynn Resorts Ltd.(d) | 13,169 | 1,243,549 | |||||
Yum! Brands, Inc. | 1,268 | 164,193 | |||||
9,922,163 | |||||||
Household Durables — 0.25% | |||||||
Lennar Corp. - Class A | 767 | 114,935 | |||||
Mohawk Industries, Inc.(a) | 431 | 44,932 | |||||
Tempur Sealy International, Inc. | 2,010 | 100,279 | |||||
Toll Brothers, Inc. | 1,145 | 113,756 | |||||
TopBuild Corp.(a) | 458 | 169,061 | |||||
542,963 | |||||||
Household Products — 1.38% | |||||||
Clorox Co.(d) | 9,373 | 1,361,429 | |||||
Colgate-Palmolive Co. | 16,391 | 1,380,123 | |||||
Spectrum Brands Holdings, Inc.(d) | 3,470 | 272,811 | |||||
3,014,363 | |||||||
Industrial Conglomerates — 0.09% | |||||||
General Electric Co. | 1,557 | 206,178 | |||||
Honeywell International, Inc. | 3 | 607 | |||||
206,785 | |||||||
Industrial REITs — 4.41% | |||||||
Americold Realty Trust(c) | 142,338 | 3,914,295 | |||||
EastGroup Properties, Inc.(c) | 9,395 | 1,666,955 | |||||
Rexford Industrial Realty, Inc.(c) | 76,480 | 4,022,083 | |||||
9,603,333 | |||||||
Insurance — 0.97% | |||||||
Allstate Corp. | 1,398 | 217,040 | |||||
American International Group, Inc. | 1,267 | 88,069 | |||||
ASR Nederland NV(b) | 1,302 | 61,358 | |||||
Axis Capital Holdings Ltd.(b) | 359 | 21,368 | |||||
Cincinnati Financial Corp. | 724 | 80,219 | |||||
Everest Group Ltd.(b) | 497 | 191,330 | |||||
Fidelis Insurance Holdings Ltd.(a)(b) | 3,366 | 43,825 | |||||
Hanover Insurance Group, Inc. | 537 | 70,889 | |||||
HCI Group, Inc. | 543 | 48,691 | |||||
International General Insurance Holdings Ltd.(b) | 10,876 | 146,391 | |||||
Kemper Corp. | 1,444 | 86,640 | |||||
MetLife, Inc. | 716 | 49,633 | |||||
Old Republic International Corp. | 6,310 | 176,932 | |||||
Reinsurance Group America, Inc. | 1,137 | 197,713 | |||||
RenaissanceRe Holdings Ltd.(b) | 1,421 | 325,168 | |||||
Unum Group | 4,189 | 202,496 | |||||
Willis Towers Watson plc(b) | 430 | 105,909 | |||||
2,113,671 | |||||||
Interactive Media & Services — 0.19% | |||||||
MediaAlpha, Inc. - Class A(a) | 3,590 | 45,773 | |||||
Meta Platforms, Inc. - Class A(a)(d) | 712 | 277,779 | |||||
QuinStreet, Inc.(a) | 6,471 | 81,988 | |||||
Vimeo, Inc.(a) | 4,063 | 16,130 | |||||
421,670 | |||||||
IT Services — 0.33% | |||||||
Akamai Technologies, Inc.(a) | 736 | 90,697 | |||||
Applied Digital Corp.(a)(d) | 10,670 | 54,844 | |||||
MongoDB, Inc.(a) | 362 | 144,988 | |||||
Okta, Inc.(a) | 1,810 | 149,597 | |||||
Snowflake, Inc. - Class A(a) | 1,353 | 264,701 | |||||
Twilio, Inc., Class A - Class A(a) | 127 | 8,932 | |||||
713,759 | |||||||
Leisure Products — 0.00% | |||||||
Old PSG Wind-Down Ltd.(a)(b)(e) | 2,127 | 202 | |||||
Life Sciences Tools & Services — 0.93% | |||||||
Agilent Technologies, Inc. | 37 | 4,814 | |||||
Akoya Biosciences, Inc.(a) | 1,877 | 9,535 | |||||
Bruker Corp. | 3,719 | 265,946 | |||||
Danaher Corp. | 2,012 | 482,699 | |||||
Fortrea Holdings, Inc.(a) | 4,606 | 142,602 | |||||
ICON PLC(a)(b) | 1,660 | 433,044 | |||||
Illumina, Inc.(a) | 833 | 119,127 | |||||
Lonza Group AG(b) | 303 | 148,138 | |||||
Pacific Biosciences of California, Inc.(a) | 3,547 | 23,091 | |||||
QIAGEN NV(b) | 2,777 | 120,963 | |||||
Repligen Corp.(a) | 81 | 15,341 | |||||
Standard BioTools, Inc.(a) | 200 | 454 | |||||
Thermo Fisher Scientific, Inc. | 489 | 263,561 | |||||
2,029,315 | |||||||
Machinery — 0.94% | |||||||
AGCO Corp. | 687 | 84,041 | |||||
Chart Industries, Inc.(a) | 3,055 | 356,580 | |||||
Deere & Co. | 990 | 389,644 | |||||
Esab Corp. | 501 | 43,081 | |||||
Flowserve Corp. | 12,449 | 497,089 | |||||
Lincoln Electric Holdings, Inc. | 644 | 143,110 | |||||
Oshkosh Corp. | 637 | 70,134 | |||||
PACCAR, Inc. | 1,892 | 189,938 | |||||
Parker-Hannifin Corp. | 339 | 157,466 | |||||
Wabtec Corp. | 395 | 51,970 | |||||
Xylem, Inc. | 551 | 61,954 | |||||
2,045,007 | |||||||
Marine Transportation — 0.06% | |||||||
AP Moller - Maersk AS - Class B(b) | 4 | 7,375 | |||||
Kirby Corp.(a) | 1,436 | 112,956 | |||||
120,331 | |||||||
Media — 0.73% | |||||||
Comcast Corp. - Class A | 4,332 | 201,611 | |||||
comScore, Inc.(a) | 16,727 | 337,551 | |||||
Criteo SA - ADR(a)(b) | 6,223 | 161,362 | |||||
Liberty Media Corp.-Liberty SiriusXM(a) | 19,943 | 605,470 | |||||
Nexstar Media Group, Inc. | 368 | 65,397 | |||||
Paramount Global - Class B | 3,036 | 44,295 | |||||
Trade Desk, Inc. - Class A(a) | 2,631 | 180,039 | |||||
1,595,725 | |||||||
Metals & Mining — 2.94% | |||||||
Adriatic Metals PLC(a)(b) | 25,617 | 59,382 | |||||
Algoma Steel Group, Inc.(b) | 136,752 | 1,140,513 | |||||
Atlas Lithium Corp.(a) | 10,257 | 232,321 | |||||
BlueScope Steel Ltd.(b) | 3,360 | 51,302 | |||||
Capstone Copper Corp.(a)(b) | 115,741 | 569,903 | |||||
Carpenter Technology Corp. | 4,536 | 279,372 | |||||
Filo Corp.(a)(b) | 53,002 | 814,869 | |||||
Freeport-McMoRan, Inc. | 27,391 | 1,087,149 | |||||
Ivanhoe Mines Ltd. - Class A(a)(b) | 14,201 | 149,039 | |||||
Latin Resources Ltd.(a)(b) | 312,408 | 34,381 | |||||
Li-FT Power Ltd.(a)(b) | 19,113 | 76,057 | |||||
Lithium Americas Argentina Corp.(a)(b) | 17,428 | 77,380 | |||||
Lithium Ionic Corp.(a)(b) | 20,175 | 14,106 | |||||
NGEx Minerals Ltd.(a)(b) | 94,052 | 577,833 | |||||
Nickel Industries Ltd.(b) | 73,400 | 37,618 | |||||
Northam Platinum Holdings Ltd.(b) | 33,727 | 227,213 | |||||
Schnitzer Steel Industries, Inc. - Class A | 4,225 | 111,244 | |||||
Sigma Lithium Corp.(a)(b) | 23,151 | 464,409 | |||||
Teck Resources Ltd. - Class B(b) | 7,029 | 281,230 | |||||
WA1 Resources Ltd.(a)(b) | 18,798 | 124,131 | |||||
6,409,452 | |||||||
Mortgage Real Estate Investment Trusts (REITs) — 0.21% | |||||||
AGNC Investment Corp. | 16,170 | 153,292 | |||||
Annaly Capital Management, Inc. | 11,993 | 230,145 | |||||
Rithm Capital Corp. | 7,310 | 78,217 | |||||
461,654 | |||||||
Office REITs — 4.11% | |||||||
Boston Properties, Inc.(c) | 68,725 | 4,570,213 | |||||
Cousins Properties, Inc.(c) | 103,097 | 2,361,952 | |||||
Douglas Emmett, Inc. | 84,014 | 1,138,390 | |||||
Hudson Pacific Properties, Inc. | 107,853 | 883,316 | |||||
8,953,871 | |||||||
Oil, Gas & Consumable Fuels — 2.18% | |||||||
Aemetis, Inc.(a) | 701 | 2,552 | |||||
Antero Midstream Corp. | 1,893 | 23,170 | |||||
Antero Resources Corp.(a) | 11,213 | 250,498 | |||||
APA Corp. | 734 | 22,996 | |||||
Baytex Energy Corp.(b) | 4,652 | 14,793 | |||||
BP PLC - ADR(b) | 258 | 9,056 | |||||
Calumet Specialty Products Partners LP(a) | 1,242 | 18,965 | |||||
Cameco Corp.(b) | 202 | 9,646 | |||||
Canadian Natural Resources Ltd.(b) | 1,302 | 83,315 | |||||
Cenovus Energy, Inc.(b) | 181 | 2,929 | |||||
Cheniere Energy Partners LP | 813 | 43,024 | |||||
Cheniere Energy, Inc. | 139 | 22,795 | |||||
Chesapeake Energy Corp. | 688 | 53,052 | |||||
Chevron Corp. | 24 | 3,538 | |||||
Chord Energy Corp. | 975 | 149,916 | |||||
Comstock Resources, Inc. | 16 | 125 | |||||
Crescent Point Energy Corp.(b) | 429 | 2,797 | |||||
CrossAmerica Partners LP | 342 | 8,040 | |||||
Diamondback Energy, Inc. | 2,308 | 354,832 | |||||
Dorian LPG Ltd. | 202 | 7,563 | |||||
Encore Energy Corp.(a)(b) | 1,451 | 6,689 | |||||
Enerplus Corp.(b) | 5,415 | 78,626 | |||||
Equitrans Midstream Corp. | 487 | 4,963 | |||||
Frontline PLC(b) | 895 | 20,308 | |||||
Genesis Energy LP | 645 | 7,437 | |||||
Golar LNG Ltd.(b) | 47,780 | 1,042,081 | |||||
Green Plains, Inc.(a) | 344 | 7,131 | |||||
Gulfport Energy Corp.(a) | 817 | 103,677 | |||||
Imperial Oil Ltd.(b) | 50 | 2,885 | |||||
Kinder Morgan, Inc. | 1,355 | 22,927 | |||||
KNOT Offshore Partners LP(b) | 156 | 920 | |||||
Marathon Oil Corp. | 11,737 | 268,190 | |||||
Marathon Petroleum Corp. | 1,202 | 199,051 | |||||
Matador Resources Co. | 2,842 | 155,997 | |||||
Murphy Oil Corp. | 6,375 | 246,713 | |||||
Natural Resource Partners LP | 210 | 20,423 | |||||
NextDecade Corp.(a) | 1,886 | 9,600 | |||||
NGL Energy Partners LP(a) | 2,099 | 12,195 | |||||
Northern Oil & Gas, Inc. | 4,828 | 161,738 | |||||
NuStar Energy LP | 3,099 | 68,179 | |||||
Occidental Petroleum Corporation | 113 | 6,505 | |||||
Par Pacific Holdings, Inc.(a) | 169 | 6,184 | |||||
Peabody Energy Corporation | 5,385 | 143,780 | |||||
Permian Resources Corp. | 16,918 | 228,055 | |||||
Petroleo Brasileiro SA - ADR(b) | 4,275 | 72,974 | |||||
Phillips 66 | 1,662 | 239,843 | |||||
Range Resources Corp. | 3,566 | 103,557 | |||||
Shell PLC - ADR(b) | 45 | 2,831 | |||||
SM Energy Co. | 5,407 | 200,492 | |||||
Southwestern Energy Co.(a) | 16,952 | 109,340 | |||||
StealthGas, Inc.(a)(b) | 74 | 565 | |||||
Sunoco LP | 641 | 38,120 | |||||
Teekay Corp.(a)(b) | 1,721 | 15,472 | |||||
TotalEnergies SE - ADR(b) | 275 | 17,925 | |||||
Transportadora de Gas del Sur SA - ADR(a)(b) | 113 | 1,687 | |||||
Vermilion Energy, Inc.(b) | 1,486 | 15,989 | |||||
Vista Energy SAB de CV - ADR(a)(b) | 125 | 4,095 | |||||
Woodside Energy Group Ltd. - ADR(b) | 460 | 9,605 | |||||
4,740,351 | |||||||
Paper & Forest Products — 0.04% | |||||||
West Fraser Timber Co. Ltd.(b) | 1,123 | 89,300 | |||||
Passenger Airlines — 0.10% | |||||||
Delta Air Lines, Inc. | 5,521 | 216,092 | |||||
Personal Care Products — 0.16% | |||||||
BellRing Brands, Inc.(a) | 2,850 | 157,519 | |||||
e.l.f. Beauty, Inc.(a) | 439 | 70,034 | |||||
Kenvue, Inc. | 696 | 14,449 | |||||
Oddity Tech Ltd. - Class A(a)(b) | 763 | 31,512 | |||||
Unilever PLC(b) | 1,553 | 75,705 | |||||
349,219 | |||||||
Pharmaceuticals — 1.30% | |||||||
AstraZeneca plc - ADR(b) | 467 | 31,121 | |||||
Bristol-Myers Squibb Co. | 1,969 | 96,225 | |||||
Elanco Animal Health, Inc.(a) | 17,748 | 261,606 | |||||
Eli Lilly & Co. | 986 | 636,570 | |||||
Green Thumb Industries, Inc.(a)(b) | 23,308 | 308,124 | |||||
GSK PLC - ADR(b) | 3,877 | 152,909 | |||||
Intra-Cellular Therapies, Inc.(a) | 799 | 53,805 | |||||
Merck & Co., Inc. | 2,591 | 312,941 | |||||
Novo Nordisk AS - ADR(b) | 1,576 | 180,830 | |||||
Novo Nordisk AS – Class B(b) | 1,162 | 132,822 | |||||
Organon & Co. | 5,610 | 93,407 | |||||
Pfizer, Inc. | 1,472 | 39,862 | |||||
Royalty Pharma PLC - Class A | 3,096 | 87,895 | |||||
Structure Therapeutics, Inc. - ADR(a) | 2,398 | 104,601 | |||||
Teva Pharmaceutical Industries Ltd. - ADR(a)(b) | 14,530 | 175,813 | |||||
Verano Holdings Corp.(a) | 24,733 | 147,723 | |||||
Verona Pharma PLC - ADR(a)(b) | 365 | 6,698 | |||||
2,822,952 | |||||||
Professional Services — 0.32% | |||||||
Alight, Inc. - Class A(a) | 4,475 | 39,917 | |||||
KBR, Inc. | 12,232 | 637,409 | |||||
Parsons Corp.(a) | 359 | 23,389 | |||||
700,715 | |||||||
Real Estate Management & Development — 0.12% | |||||||
Compass, Inc. - Class A(a) | 1,077 | 3,705 | |||||
DigitalBridge Group, Inc. | 13,106 | 257,402 | |||||
261,107 | |||||||
Residential REITs — 0.19% | |||||||
AvalonBay Communities, Inc. | 1,790 | 320,428 | |||||
Equity LifeStyle Properties, Inc. | 1,499 | 101,467 | |||||
421,895 | |||||||
Retail REITs — 2.99% | |||||||
Acadia Realty Trust(c) | 91,282 | 1,557,271 | |||||
Agree Realty Corp.(c) | 32,147 | 1,916,283 | |||||
Brixmor Property Group, Inc.(c) | 94,098 | 2,111,558 | |||||
NETSTREIT Corp. | 10,980 | 199,507 | |||||
Retail Opportunity Investments Corp. | 52,821 | 717,837 | |||||
6,502,456 | |||||||
Semiconductors & Semiconductor Equipment — 1.09% | |||||||
ASML Holding N.V.(b) | 701 | 608,982 | |||||
Marvell Technology, Inc. | 6,498 | 439,915 | |||||
Micron Technology, Inc. | 1,436 | 123,137 | |||||
Monolithic Power Systems, Inc. | 460 | 277,251 | |||||
NVIDIA Corp. | 737 | 453,455 | |||||
Qorvo, Inc.(a) | 718 | 71,613 | |||||
SiTime Corp.(a) | 644 | 68,631 | |||||
Synaptics, Inc.(a) | 2,172 | 231,991 | |||||
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR(b) | 785 | 88,674 | |||||
2,363,649 | |||||||
Software — 2.21% | |||||||
Altair Engineering, Inc. - Class A(a) | 110 | 9,352 | |||||
ANSYS, Inc.(a) | 29 | 9,507 | |||||
Braze, Inc. - Class A(a) | 836 | 45,186 | |||||
Cadence Design Systems, Inc.(a) | 863 | 248,941 | |||||
CyberArk Software Ltd.(a)(b) | 543 | 126,780 | |||||
Descartes Systems Group, Inc.(a)(b) | 910 | 79,707 | |||||
DocuSign, Inc.(a) | 183 | 11,148 | |||||
Elastic N.V.(a) | 73 | 8,545 | |||||
Envestnet, Inc.(a) | 4,484 | 229,132 | |||||
Five9, Inc.(a) | 109 | 8,269 | |||||
Freshworks, Inc. - Class A(a) | 6,171 | 136,996 | |||||
Gitlab, Inc. - Class A(a) | 5,520 | 392,527 | |||||
HashiCorp, Inc. - Class A(a) | 437 | 9,553 | |||||
Intuit, Inc. | 366 | 231,067 | |||||
Jamf Holding Corp.(a) | 5,148 | 95,444 | |||||
JFrog Ltd.(a)(b) | 2,327 | 75,697 | |||||
Klaviyo, Inc. - Class A(a) | 3,211 | 83,004 | |||||
LiveRamp Holdings, Inc.(a) | 18,974 | 749,094 | |||||
Microsoft Corp.(d) | 2,974 | 1,182,402 | |||||
Model N, Inc.(a) | 1,474 | 39,724 | |||||
Monday.com Ltd.(a)(b) | 359 | 75,404 | |||||
Oracle Corp. | 2,685 | 299,915 | |||||
Riskfield Ltd. - Class A(a)(b) | 6,747 | 30,969 | |||||
Roper Technologies, Inc. | 136 | 73,032 | |||||
SentinelOne, Inc. - Class A(a) | 14,360 | 384,848 | |||||
Smartsheet, Inc. - Class A(a) | 182 | 8,185 | |||||
Workday, Inc. - Class A(a) | 552 | 160,671 | |||||
4,805,099 | |||||||
Specialized REITs — 2.90% | |||||||
CubeSmart(c) | 52,551 | 2,271,254 | |||||
SBA Communications Corp.(c) | 18,028 | 4,035,748 | |||||
6,307,002 | |||||||
Specialty Retail — 0.83% | |||||||
Academy Sports & Outdoors, Inc. | 1,950 | 122,324 | |||||
Advance Auto Parts, Inc. | 524 | 35,029 | |||||
American Eagle Outfitters, Inc. | 3,640 | 72,145 | |||||
AutoNation, Inc.(a) | 790 | 110,331 | |||||
Bath & Body Works, Inc. | 3,974 | 169,531 | |||||
Burlington Stores, Inc.(a) | 557 | 106,471 | |||||
Gap, Inc.(d) | 6,757 | 126,288 | |||||
National Vision Holdings, Inc.(a) | 4,453 | 84,652 | |||||
O'Reilly Automotive, Inc.(a) | 127 | 129,927 | |||||
RH(a) | 315 | 79,846 | |||||
Ross Stores, Inc. | 1,700 | 238,476 | |||||
Signet Jewelers Ltd.(b) | 1,419 | 141,162 | |||||
Tractor Supply Co. | 239 | 53,679 | |||||
Ulta Beauty, Inc.(a) | 296 | 148,607 | |||||
Wayfair, Inc. - Class A(a)(d) | 3,606 | 181,202 | |||||
1,799,670 | |||||||
Technology Hardware, Storage & Peripherals — 0.42% | |||||||
Pure Storage, Inc. - Class A(a) | 8,055 | 322,119 | |||||
Seagate Technology Holdings PLC(b) | 2,692 | 230,651 | |||||
Western Digital Corp.(a) | 6,282 | 359,645 | |||||
912,415 | |||||||
Textiles, Apparel & Luxury Goods — 0.52% | |||||||
Capri Holdings Ltd.(a)(b) | 427 | 20,812 | |||||
Columbia Sportswear Co. | 549 | 43,514 | |||||
Gildan Activewear, Inc.(b) | 6,588 | 217,470 | |||||
NIKE, Inc. - Class B | 2,062 | 209,355 | |||||
PVH Corp. | 2,689 | 323,378 | |||||
Skechers U.S.A., Inc. - Class A(a) | 3,836 | 239,520 | |||||
Tapestry, Inc.(d) | 2,171 | 84,213 | |||||
1,138,262 | |||||||
Trading Companies & Distributors — 0.89% | |||||||
AerCap Holdings N.V.(a)(b) | 6,201 | 474,749 | |||||
Air Lease Corp. | 3,722 | 155,617 | |||||
Beacon Roofing Supply, Inc.(a) | 2,334 | 193,465 | |||||
Core & Main, Inc. - Class A(a) | 3,965 | 163,794 | |||||
DNOW, Inc.(a) | 1,128 | 11,382 | |||||
Fastenal Co. | 361 | 24,631 | |||||
FTAI Aviation Ltd.(b) | 11,740 | 633,373 | |||||
MRC Global, Inc.(a) | 26,357 | 280,965 | |||||
1,937,976 | |||||||
Wireless Telecommunication Services — 0.01% | |||||||
NII Holdings, Inc.(a)(e) | 6,235 | 2,494 | |||||
Telephone and Data Systems, Inc. | 3 | 58 | |||||
United States Cellular Corp.(a) | 277 | 12,298 | |||||
14,850 | |||||||
Total Common Stocks (Cost $138,483,604) | 140,882,250 | ||||||
EXCHANGE TRADED FUNDS — 9.86% | |||||||
Commodity – 0.46% | |||||||
Sprott Physical Gold Trust(a)(b) | 13,057 | 205,648 | |||||
Sprott Physical Uranium Trust(a)(b) | 34,511 | 798,570 | |||||
1,004,218 | |||||||
Equity – 9.38% | |||||||
Energy Select Sector SPDR Fund | 4,257 | 355,076 | |||||
Financial Select Sector SPDR Fund | 539 | 20,892 | |||||
Invesco S&P 500 Equal Weight ETF | 4,723 | 738,961 | |||||
Invesco S&P 500 Low Volatility ETF | 4,964 | 313,328 | |||||
iShares China Large-Cap ETF | 1,617 | 35,185 | |||||
iShares MSCI India ETF | 4,324 | 215,724 | |||||
iShares Russell 2000 ETF | 86,120 | 16,610,825 | |||||
iShares U.S. Home Construction ETF | 2,871 | 287,043 | |||||
iShares U.S. Medical Devices ETF | 53 | 2,959 | |||||
KraneShares CSI China Internet ETF | 11,867 | 276,976 | |||||
ProShares VIX Short-Term Futures ETF(a) | 33,812 | 509,885 | |||||
SPDR S&P Biotech ETF | 185 | 16,174 | |||||
SPDR S&P Metals & Mining ETF | 2,141 | 122,422 | |||||
SPDR S&P Regional Banking ETF | 1,628 | 80,912 | |||||
United States Oil Fund LP(a) | 5,604 | 397,436 | |||||
U.S. Global Jets ETF(a) | 4,324 | 81,075 | |||||
VanEck Vectors Semiconductor ETF(a) | 2,003 | 372,298 | |||||
20,437,171 | |||||||
Fixed Income – 0.02% | |||||||
ProShares UltraShort 20+ Year Treasury | 1,279 | 40,698 | |||||
Total Exchange Traded Funds (Cost $21,446,086) | 21,482,087 | ||||||
Preferred Stocks — 0.09% Oil, Gas & Consumable Fuels – 0.09% | |||||||
Petroleo Brasileiro SA(b) | 11,451 | 187,796 | |||||
Total Preferred Stocks (Cost $181,302) | 187,796 | ||||||
Contracts | Notional Amount | ||||||
Purchased Options — 0.11% | |||||||
Calls — 0.06% | |||||||
Affirm Holdings, Inc.(f) | |||||||
Exercise Price: $52.50, Expiration: 04/19/2024 | 43 | $ | 174,193 | $ | 13,975 | ||
Alibaba Group Holding Ltd.(f) | |||||||
Exercise Price: $75.00, Expiration: 02/02/2024 | 18 | 129,906 | 306 | ||||
Exercise Price: $80.00, Expiration: 02/16/2024 | 35 | 252,595 | 2,328 | ||||
Alphabet, Inc.(f) | |||||||
Exercise Price: $155.00, Expiration: 02/02/2024 | 11 | 155,980 | 28 | ||||
Apollo Global Management, Inc.(f) | |||||||
Exercise Price: $92.50, Expiration: 03/15/2024 | 8 | 80,320 | 7,640 | ||||
Applied Digital Corp.(f) | |||||||
Exercise Price: $6.00, Expiration: 03/01/2024 | 72 | 37,008 | 1,980 | ||||
AstraZeneca PLC(f) | |||||||
Exercise Price: $69.00, Expiration: 02/09/2024 | 40 | 266,560 | 2,000 | ||||
Clorox Co.(f) | |||||||
Exercise Price: $152.50, Expiration: 02/16/2024 | 43 | 624,575 | 7,955 | ||||
CommScope Holding Co., Inc.(f) | |||||||
Exercise Price: $2.50, Expiration: 05/17/2024 | 362 | 83,984 | 15,384 | ||||
CVS Health Corp.(f) | |||||||
Exercise Price: $74.00, Expiration: 02/09/2024 | 18 | 133,866 | 3,600 | ||||
Cytokinetics, Inc.(f) | |||||||
Exercise Price: $100.00, Expiration: 02/16/2024 | 4 | 31,252 | 370 | ||||
Danaher Corp.(f) | |||||||
Exercise Price: $250.00, Expiration: 02/02/2024 | 11 | 263,901 | 82 | ||||
Dow, Inc.(f) | |||||||
Exercise Price: $56.00, Expiration: 02/16/2024 | 36 | 192,960 | 792 | ||||
Endeavor Group Holdings, Inc.(f) | |||||||
Exercise Price: $28.00, Expiration: 03/15/2024 | 36 | 89,100 | 1,080 | ||||
Gap, Inc.(f) | |||||||
Exercise Price: $22.00, Expiration: 03/15/2024 | 16 | 29,904 | 736 | ||||
Global X Uranium ETF(f) | |||||||
Exercise Price: $33.00, Expiration: 02/16/2024 | 76 | 230,432 | 3,610 | ||||
Golar LNG Ltd.(f) | |||||||
Exercise Price: $25.00, Expiration: 03/15/2024 | 9 | 19,629 | 157 | ||||
Goodyear Tire & Rubber Co.(f) | |||||||
Exercise Price: $15.00, Expiration: 02/16/2024 | 22 | 30,668 | 605 | ||||
Humana, Inc.(f) | |||||||
Exercise Price: $425.00, Expiration: 02/16/2024 | 5 | 189,030 | 350 | ||||
KraneShares CSI China Internet ETF(f) | |||||||
Exercise Price: $27.00, Expiration: 02/23/2024 | 91 | 212,394 | 910 | ||||
Marqeta, Inc.(f) | |||||||
Exercise Price: $8.00, Expiration: 06/21/2024 | 171 | 102,771 | 5,985 | ||||
Merck & Co., Inc.(f) | |||||||
Exercise Price: $120.00, Expiration: 02/02/2024 | 7 | 84,546 | 1,372 | ||||
Meta Platforms, Inc.(f) | |||||||
Exercise Price: $400.00, Expiration: 02/02/2024 | 6 | 234,084 | 5,352 | ||||
Microsoft Corp.(f) | |||||||
Exercise Price: $415.00, Expiration: 02/02/2024 | 6 | 238,548 | 108 | ||||
Norfolk Southern Corp.(f) | |||||||
Exercise Price: $240.00, Expiration: 02/16/2024 | 14 | 329,336 | 3,115 | ||||
Penn Entertainment, Inc.(f) | |||||||
Exercise Price: $25.00, Expiration: 03/15/2024 | 13 | 29,315 | 1,196 | ||||
Exercise Price: $27.50, Expiration: 02/16/2024 | 11 | 24,805 | 171 | ||||
Exercise Price: $30.00, Expiration: 02/16/2024 | 24 | 54,120 | 156 | ||||
Phillips 66(f) | |||||||
Exercise Price: $150.00, Expiration: 03/15/2024 | 11 | 158,741 | 2,805 | ||||
Pilgrim's Pride Corp.(f) | |||||||
Exercise Price: $30.00, Expiration: 03/15/2024 | 32 | 86,944 | 960 | ||||
PureCycle Technologies, Inc.(f) | |||||||
Exercise Price: $4.00, Expiration: 02/16/2024 | 36 | 14,112 | 1,620 | ||||
Snap, Inc.(f) | |||||||
Exercise Price: $17.00, Expiration: 02/16/2024 | 36 | 57,204 | 4,356 | ||||
SPDR S&P Biotech ETF(f) | |||||||
Exercise Price: $92.00, Expiration: 02/02/2024 | 9 | 78,687 | 63 | ||||
SPDR S&P Oil & Gas Exploration & Production ETF(f) | |||||||
Exercise Price: $141.00, Expiration: 02/16/2024 | 18 | 239,436 | 1,233 | ||||
Spectrum Brands Holdings, Inc.(f) | |||||||
Exercise Price: $80.00, Expiration: 04/19/2024 | 7 | 55,034 | 2,380 | ||||
Tapestry, Inc.(f) | |||||||
Exercise Price: $40.00, Expiration: 05/17/2024 | 16 | 62,064 | 3,800 | ||||
Exercise Price: $40.00, Expiration: 02/09/2024 | 36 | 139,644 | 2,880 | ||||
United States Natural Gas Fund LP(f) | |||||||
Exercise Price: $6.00, Expiration: 03/15/2024 | 240 | 471,120 | 2,760 | ||||
Exercise Price: $9.00, Expiration: 02/23/2024 | 1,025 | 2,012,075 | 5,125 | ||||
UnitedHealth Group, Inc.(f) | |||||||
Exercise Price: $500.00, Expiration: 02/16/2024 | 5 | 255,870 | 8,400 | ||||
Utz Brands, Inc.(f) | |||||||
Exercise Price: $17.50, Expiration: 02/16/2024 | 18 | 31,860 | 1,215 | ||||
Exercise Price: $20.00, Expiration: 03/15/2024 | 90 | 159,300 | 3,150 | ||||
Valley National Bancorp(f) | |||||||
Exercise Price: $10.00, Expiration: 02/16/2024 | 24 | 23,088 | 720 | ||||
Wayfair, Inc.(f) | |||||||
Exercise Price: $60.00, Expiration: 02/23/2024 | 11 | 55,275 | 2,239 | ||||
Wynn Resorts Ltd.(f) | |||||||
Exercise Price: $97.50, Expiration: 02/16/2024 | 52 | 491,036 | 11,519 | ||||
136,568 | |||||||
Puts — 0.05% | |||||||
American Express Co.(f) | |||||||
Exercise Price: $177.50, Expiration: 02/02/2024 | 14 | 281,036 | 49 | ||||
Bank of America Corp.(f) | |||||||
Exercise Price: $33.00, Expiration: 02/16/2024 | 64 | 217,664 | 1,664 | ||||
Exercise Price: $34.00, Expiration: 02/16/2024 | 37 | 125,837 | 2,405 | ||||
Bread Financial Holdings, Inc.(f) | |||||||
Exercise Price: $32.50, Expiration: 02/16/2024 | 119 | 431,613 | 4,462 | ||||
Cameco Corp.(f) | |||||||
Exercise Price: $45.00, Expiration: 02/16/2024 | 37 | 176,675 | 3,922 | ||||
Capri Holdings Ltd.(f) | |||||||
Exercise Price: $37.50, Expiration: 02/16/2024 | 16 | 77,984 | 80 | ||||
Catalent, Inc.(f) | |||||||
Exercise Price: $45.00, Expiration: 02/16/2024 | 18 | 92,952 | 945 | ||||
Exercise Price: $50.00, Expiration: 02/16/2024 | 27 | 139,428 | 5,130 | ||||
Coinbase Global, Inc.(f) | |||||||
Exercise Price: $120.00, Expiration: 02/09/2024 | 9 | 115,380 | 1,624 | ||||
Corteva, Inc.(f) | |||||||
Exercise Price: $40.00, Expiration: 02/16/2024 | 36 | 163,728 | 900 | ||||
Cytokinetics, Inc.(f) | |||||||
Exercise Price: $70.00, Expiration: 02/16/2024 | 7 | 54,691 | 1,015 | ||||
Danaher Corp.(f) | |||||||
Exercise Price: $225.00, Expiration: 02/02/2024 | 18 | 431,838 | 90 | ||||
Endeavor Group Holdings, Inc.(f) | |||||||
Exercise Price: $24.00, Expiration: 02/16/2024 | 126 | 311,850 | 7,560 | ||||
HCA Healthcare, Inc.(f) | |||||||
Exercise Price: $275.00, Expiration: 02/16/2024 | 4 | 121,960 | 150 | ||||
Intuit, Inc.(f) | |||||||
Exercise Price: $630.00, Expiration: 02/02/2024 | 4 | 252,532 | 2,160 | ||||
iShares MSCI South Korea ETF(f) | |||||||
Exercise Price: $56.00, Expiration: 02/16/2024 | 43 | 255,721 | 860 | ||||
iShares Russell 2000 ETF(f) | |||||||
Exercise Price: $193.00, Expiration: 02/02/2024 | 7 | 135,016 | 1,292 | ||||
Exercise Price: $195.00, Expiration: 02/16/2024 | 9 | 173,592 | 4,041 | ||||
Liberty Media Corp.-Liberty SiriusXM(f) | |||||||
Exercise Price: $30.00, Expiration: 02/16/2024 | 72 | 218,592 | 4,680 | ||||
Merck & Co., Inc.(f) | |||||||
Exercise Price: $120.00, Expiration: 02/02/2024 | 18 | 217,404 | 1,998 | ||||
Parker-Hannifin Corp.(f) | |||||||
Exercise Price: $450.00, Expiration: 02/16/2024 | 4 | 185,800 | 2,640 | ||||
Penn Entertainment, Inc.(f) | |||||||
Exercise Price: $22.50, Expiration: 02/16/2024 | 32 | 72,160 | 4,000 | ||||
PPG Industries, Inc.(f) | |||||||
Exercise Price: $140.00, Expiration: 02/02/2024 | 14 | 197,456 | 735 | ||||
QUALCOMM, Inc.(f) | |||||||
Exercise Price: $146.00, Expiration: 02/02/2024 | 9 | 133,659 | 2,660 | ||||
Rocket Cos., Inc.(f) | |||||||
Exercise Price: $11.00, Expiration: 06/21/2024 | 124 | 152,644 | 11,656 | ||||
Sirius XM Holdings, Inc.(f) | |||||||
Exercise Price: $5.50, Expiration: 02/16/2024 | 37 | 18,833 | 2,109 | ||||
SoFi Technologies, Inc.(f) | |||||||
Exercise Price: $9.00, Expiration: 03/15/2024 | 97 | 75,951 | 13,676 | ||||
SPDR S&P 500 ETF(f) | |||||||
Exercise Price: $476.00, Expiration: 02/16/2024 | 28 | 1,352,064 | 6,090 | ||||
Exercise Price: $483.00, Expiration: 02/01/2024 | 18 | 869,184 | 2,646 | ||||
Exercise Price: $485.00, Expiration: 02/02/2024 | 9 | 434,592 | 2,907 | ||||
SPDR S&P Biotech ETF(f) | |||||||
Exercise Price: $85.00, Expiration: 02/16/2024 | 13 | 113,659 | 1,658 | ||||
Spectrum Brands Holdings, Inc.(f) | |||||||
Exercise Price: $80.00, Expiration: 02/16/2024 | 18 | 141,516 | 5,625 | ||||
Union Pacific Corp.(f) | |||||||
Exercise Price: $232.50, Expiration: 02/16/2024 | 18 | 439,074 | 1,170 | ||||
VanEck Semiconductor ETF(f) | |||||||
Exercise Price: $183.00, Expiration: 02/09/2024 | 11 | 204,457 | 2,013 | ||||
104,612 | |||||||
Total Options (Cost $328,431) | 241,180 | ||||||
Contracts | Value | ||||||
Contingent Value Rights — 0.00% | |||||||
Kinross Gold Corp.(a)(b)(e) | 835 | – | |||||
Novartis AG (a)(e) | 63 | – | |||||
Resolute Forest Products(a)(e) | 873 | – | |||||
Total Contingent Value Rights (Cost $2,357) | – | ||||||
Money Market Fund — 4.06% | Shares | ||||||
Fidelity Government Portfolio, Class Institutional, 5.22%(d)(g) | 8,831,259 | 8,831,259 | |||||
Total Money Market Fund (Cost $8,831,259) | 8,831,259 | ||||||
Total Investments (Cost $169,273,039) — 78.82% | 171,624,572 | ||||||
Other Assets in Excess of Liabilities — 21.18% | 46,126,196 | ||||||
Total Net Assets — 100.00% | $ | 217,750,768 |
(a) | Non-income producing security. |
(b) | Foreign issued security. |
(c) | All or a portion of security has been committed as collateral for open securities sold short, written option contracts, swap contacts, and futures contracts. The total value of assets committed as collateral as of January 31, 2023, is $95,638,292. |
(d) | Held in connection with a written call option contract. See Schedule of Written Options for further information. |
(e) | Level three security. |
(f) | 100 shares per contract. |
(g) | The rate quoted is the annualized seven-day effective yield as of January 31, 2024. |
ADR – American Depository Receipt
ETF – Exchange Traded Fund
PLC – Public Limited Company
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC (“S&P”). GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC
Weiss Alternative Multi-Strategy Fund | ||||||||
Schedule of Securities Sold Short (Unaudited) | ||||||||
January 31, 2024 | ||||||||
Shares | Value | |||||||
Common Stocks (a) — (45.85)% | ||||||||
Aerospace & Defense — (0.21)% | ||||||||
HEICO Corp. | (573 | ) | $ | (102,905 | ) | |||
Lockheed Martin Corp. | (350 | ) | (150,294 | ) | ||||
Northrop Grumman Corp. | (464 | ) | (207,297 | ) | ||||
$ | (460,496 | ) | ||||||
Air Freight & Logistics — (0.38)% | ||||||||
GXO Logistics, Inc. | (5,787 | ) | (314,697 | ) | ||||
United Parcel Service, Inc. - Class B | (3,677 | ) | (521,767 | ) | ||||
(836,464 | ) | |||||||
Automobiles — (0.34)% | ||||||||
Bayerische Motoren Werke AG(b) | (905 | ) | (94,168 | ) | ||||
Ford Motor Co. | (26,386 | ) | (309,244 | ) | ||||
Tesla Motors, Inc. | (1,778 | ) | (333,002 | ) | ||||
(736,414 | ) | |||||||
Banks — (1.84)% | ||||||||
Ameris Bancorp | (1,795 | ) | (89,104 | ) | ||||
Associated Banc-Corp. | (6,462 | ) | (135,767 | ) | ||||
Bank of Hawaii Corp. | (1,490 | ) | (94,213 | ) | ||||
BankUnited, Inc. | (6,444 | ) | (182,107 | ) | ||||
Cadence Bank | (4,837 | ) | (128,761 | ) | ||||
Citigroup, Inc. | (4,057 | ) | (227,882 | ) | ||||
Cullen/Frost Bankers, Inc. | (359 | ) | (38,097 | ) | ||||
Hancock Whitney Corp. | (1,935 | ) | (87,288 | ) | ||||
Huntington Bancshares, Inc. | (13,969 | ) | (177,825 | ) | ||||
KeyCorp | (29,050 | ) | (422,097 | ) | ||||
M&T Bank Corp. | (1,396 | ) | (192,788 | ) | ||||
PNC Financial Services Group, Inc. | (395 | ) | (59,728 | ) | ||||
Prosperity Bancshares, Inc. | (1,383 | ) | (88,388 | ) | ||||
Regions Financial Corp. | (15,287 | ) | (285,408 | ) | ||||
Simmons First National Corp. - Class A | (9,028 | ) | (171,622 | ) | ||||
South State Corp. | (1,077 | ) | (89,499 | ) | ||||
Swedbank AB - Class A(b) | (2,904 | ) | (59,178 | ) | ||||
Synovus Financial Corp. | (3,609 | ) | (135,915 | ) | ||||
U.S. Bancorp | (9,035 | ) | (375,314 | ) | ||||
United Bankshares, Inc. | (1,263 | ) | (45,279 | ) | ||||
United Community Banks, Inc. | (5,157 | ) | (140,992 | ) | ||||
Wells Fargo & Co. | (7,697 | ) | (386,235 | ) | ||||
Zions Bancorporation NA | (9,554 | ) | (400,313 | ) | ||||
(4,013,800 | ) | |||||||
Beverages — (1.09)% | ||||||||
Brown-Forman Corp. - Class B | (20,767 | ) | (1,140,108 | ) | ||||
Molson Coors Beverage Co. - Class B | (2,466 | ) | (152,374 | ) | ||||
National Beverage Corporation | (2,016 | ) | (93,220 | ) | ||||
PepsiCo, Inc. | (5,837 | ) | (983,710 | ) | ||||
(2,369,412 | ) | |||||||
Biotechnology — (0.52)% | ||||||||
Alnylam Pharmaceuticals, Inc. | (408 | ) | (70,547 | ) | ||||
Amgen, Inc. | (680 | ) | (213,697 | ) | ||||
Arrowhead Pharmaceuticals, Inc. | (184 | ) | (5,906 | ) | ||||
Beam Therapeutics, Inc. | (537 | ) | (13,103 | ) | ||||
BeiGene Ltd. – ADR(b) | (36 | ) | (5,336 | ) | ||||
BioNTech SE - ADR(b) | (361 | ) | (34,309 | ) | ||||
Cabaletta Bio, Inc. | (726 | ) | (14,868 | ) | ||||
CRISPR Therapeutics AG(b) | (1,875 | ) | (118,032 | ) | ||||
Editas Medicine, Inc. | (4,638 | ) | (32,605 | ) | ||||
Gilead Sciences, Inc. | (2,987 | ) | (233,763 | ) | ||||
Halozyme Therapeutics, Inc. | (1,086 | ) | (36,761 | ) | ||||
Immunocore Holdings PLC - ADR(b) | (251 | ) | (18,145 | ) | ||||
Intellia Therapeutics, Inc. | (1,328 | ) | (31,633 | ) | ||||
Ionis Pharmaceuticals, Inc. | (602 | ) | (30,937 | ) | ||||
iTeos Therapeutics, Inc. | (1,648 | ) | (16,398 | ) | ||||
Krystal Biotech, Inc. | (143 | ) | (15,909 | ) | ||||
Moderna, Inc. | (1,148 | ) | (116,005 | ) | ||||
MoonLake Immunotherapeutics(b) | (99 | ) | (5,532 | ) | ||||
Prothena Corp. PLC(b) | (358 | ) | (10,164 | ) | ||||
Rocket Pharmaceuticals, Inc. | (1,448 | ) | (41,601 | ) | ||||
Syndax Pharmaceuticals, Inc. | (184 | ) | (3,770 | ) | ||||
Verve Therapeutics, Inc. | (2,820 | ) | (30,512 | ) | ||||
Zai Lab Ltd. - ADR(b) | (1,253 | ) | (27,027 | ) | ||||
(1,126,560 | ) | |||||||
Broadline Retail — (0.36)% | ||||||||
eBay, Inc. | (3,436 | ) | (141,116 | ) | ||||
Etsy, Inc. | (3,090 | ) | (205,670 | ) | ||||
Kohl's Corp. | (2,685 | ) | (69,166 | ) | ||||
Ollie's Bargain Outlet Holdings, Inc. | (5,152 | ) | (370,583 | ) | ||||
(786,535 | ) | |||||||
Building Products — (0.19)% | ||||||||
Allegion plc(b) | (1,389 | ) | (172,083 | ) | ||||
Carrier Global Corp. | (2,475 | ) | (135,407 | ) | ||||
Fortune Brands Innovations, Inc. | (716 | ) | (55,554 | ) | ||||
Lennox International, Inc. | (129 | ) | (55,233 | ) | ||||
(418,277 | ) | |||||||
Capital Markets — (2.46)% | ||||||||
Ares Management Corp. - Class A | (1,941 | ) | (235,793 | ) | ||||
Artisan Partners Asset Management, Inc. - Class A | (3,324 | ) | (139,276 | ) | ||||
BlackRock, Inc. | (288 | ) | (223,001 | ) | ||||
Blackstone, Inc. | (5,682 | ) | (707,125 | ) | ||||
Charles Schwab Corp. | (7,370 | ) | (463,720 | ) | ||||
CME Group, Inc. | (4,828 | ) | (993,795 | ) | ||||
Coinbase Global, Inc. - Class A | (467 | ) | (59,869 | ) | ||||
Franklin Resources, Inc. | (8,563 | ) | (228,033 | ) | ||||
Houlihan Lokey, Inc. | (814 | ) | (97,501 | ) | ||||
Interactive Brokers Group, Inc. - Class A | (1,106 | ) | (98,158 | ) | ||||
Intercontinental Exchange, Inc. | (371 | ) | (47,239 | ) | ||||
Invesco Ltd.(b) | (15,369 | ) | (243,291 | ) | ||||
Janus Henderson Group PLC(b) | (1,583 | ) | (45,527 | ) | ||||
Moelis & Co. - Class A | (3,075 | ) | (169,033 | ) | ||||
Moody's Corp. | (529 | ) | (207,389 | ) | ||||
Morgan Stanley | (3,878 | ) | (338,317 | ) | ||||
PJT Partners, Inc. - Class A | (493 | ) | (47,412 | ) | ||||
Raymond James Financial, Inc. | (2,451 | ) | (270,051 | ) | ||||
State Street Corp. | (2,470 | ) | (182,459 | ) | ||||
T. Rowe Price Group, Inc. | (5,066 | ) | (549,408 | ) | ||||
(5,346,397 | ) | |||||||
Chemicals — (0.90)% | ||||||||
Albemarle Corp. | (1,104 | ) | (126,673 | ) | ||||
Arcadium Lithium PLC(b) | (15,731 | ) | (76,925 | ) | ||||
DuPont de Nemours, Inc. | (1,499 | ) | (92,638 | ) | ||||
Ecolab, Inc. | (358 | ) | (70,963 | ) | ||||
LyondellBasell Industries NV - Class A(b) | (4,608 | ) | (433,704 | ) | ||||
PPG Industries, Inc. | (1,764 | ) | (248,794 | ) | ||||
Scotts Miracle-Gro Co. | (7,383 | ) | (415,367 | ) | ||||
Westlake Corp. | (3,513 | ) | (486,023 | ) | ||||
(1,951,087 | ) | |||||||
Commercial Services & Supplies — (0.07)% | ||||||||
Veralto Corp. | (724 | ) | (55,524 | ) | ||||
Waste Management, Inc. | (495 | ) | (91,887 | ) | ||||
(147,411 | ) | |||||||
Communications Equipment — (0.31)% | ||||||||
Cisco Systems, Inc. | (8,066 | ) | (404,752 | ) | ||||
Nokia OYJ - ADR(b) | (36,200 | ) | (130,320 | ) | ||||
ViaSat, Inc. | (6,261 | ) | (139,182 | ) | ||||
(674,254 | ) | |||||||
Construction & Engineering — (0.58)% | ||||||||
Fluor Corp. | (10,681 | ) | (402,780 | ) | ||||
MasTec, Inc. | (315 | ) | (20,686 | ) | ||||
Quanta Services, Inc. | (3,904 | ) | (757,571 | ) | ||||
WillScot Mobile Mini Holdings Corp. | (1,556 | ) | (73,599 | ) | ||||
(1,254,636 | ) | |||||||
Construction Materials — (0.03)% | ||||||||
Cemex SAB de CV - ADR(b) | (6,526 | ) | (54,035 | ) | ||||
Vulcan Materials Co. | (71 | ) | (16,047 | ) | ||||
(70,082 | ) | |||||||
Consumer Finance — (0.62)% | ||||||||
Ally Financial, Inc. | (5,303 | ) | (194,514 | ) | ||||
American Express Co. | (2,129 | ) | (427,376 | ) | ||||
Bread Financial Holdings, Inc. | (718 | ) | (26,042 | ) | ||||
Credit Acceptance Corp. | (26 | ) | (14,068 | ) | ||||
Navient Corporation | (8,055 | ) | (138,707 | ) | ||||
OneMain Holdings, Inc. | (1,791 | ) | (85,252 | ) | ||||
SoFi Technologies Inc. | (11,032 | ) | (86,381 | ) | ||||
Synchrony Financial | (9,966 | ) | (387,378 | ) | ||||
(1,359,718 | ) | |||||||
Consumer Staples Distribution & Retail — (0.62)% | ||||||||
BJ's Wholesale Club Holdings, Inc. | (6,490 | ) | (417,567 | ) | ||||
Costco Wholesale Corp. | (192 | ) | (133,417 | ) | ||||
Dollar Tree, Inc. | (384 | ) | (50,158 | ) | ||||
Kroger Co. | (7,903 | ) | (364,644 | ) | ||||
Target Corp. | (776 | ) | (107,926 | ) | ||||
US Foods Holding Corp. | (4,000 | ) | (184,040 | ) | ||||
Weis Markets, Inc. | (1,588 | ) | (96,471 | ) | ||||
(1,354,223 | ) | |||||||
Containers & Packaging — (0.01)% | ||||||||
Avery Dennison Corporation | (119 | ) | (23,735 | ) | ||||
Electrical Equipment — (0.37)% | ||||||||
Emerson Electric Co. | (2,228 | ) | (204,374 | ) | ||||
Regal Rexnord Corp. | (669 | ) | (89,285 | ) | ||||
Rockwell Automation, Inc. | (140 | ) | (35,459 | ) | ||||
Vestas Wind Systems AS(b) | (16,760 | ) | (472,548 | ) | ||||
(801,666 | ) | |||||||
Electronic Equipment, Instruments & Components — (0.02)% | ||||||||
Cognex Corp. | (156 | ) | (5,638 | ) | ||||
Vishay Intertechnology, Inc. | (1,815 | ) | (39,440 | ) | ||||
(45,078 | ) | |||||||
Energy Equipment & Services — (0.43)% | ||||||||
Atlas Energy Solutions, Inc. | (125 | ) | (2,171 | ) | ||||
Expro Group Holdings NV(b) | (185 | ) | (3,256 | ) | ||||
Geospace Technologies Corp. | (51 | ) | (768 | ) | ||||
Helmerich & Payne, Inc. | (4,605 | ) | (185,397 | ) | ||||
KLX Energy Services Holdings, Inc. | (253 | ) | (2,459 | ) | ||||
Kodiak Gas Services, Inc. | (387 | ) | (9,064 | ) | ||||
Liberty Energy, Inc. | (9,224 | ) | (191,767 | ) | ||||
Nine Energy Service, Inc. | (2,346 | ) | (5,654 | ) | ||||
North American Construction Group Ltd.(b) | (33 | ) | (759 | ) | ||||
ProFrac Holding Corp. - Class A | (279 | ) | (2,207 | ) | ||||
Ranger Energy Services, Inc. | (85 | ) | (864 | ) | ||||
RPC, Inc. | (2,289 | ) | (16,733 | ) | ||||
Solaris Oilfield Infrastructure, Inc. - Class A | (422 | ) | (3,165 | ) | ||||
TechnipFMC plc(b) | (8,982 | ) | (173,712 | ) | ||||
Valaris Ltd.(b) | (5,529 | ) | (342,079 | ) | ||||
(940,055 | ) | |||||||
Entertainment — (0.09)% | ||||||||
Liberty Media Corp.-Liberty Formula One - Class C | (1,077 | ) | (72,428 | ) | ||||
Manchester United PLC - Class A(b) | (60 | ) | (1,162 | ) | ||||
Roku, Inc. | (1,441 | ) | (126,894 | ) | ||||
(200,484 | ) | |||||||
Financial Services — (0.18)% | ||||||||
Berkshire Hathaway, Inc. - Class B | (280 | ) | (107,447 | ) | ||||
Block, Inc. | (183 | ) | (11,897 | ) | ||||
FleetCor Technologies, Inc. | (405 | ) | (117,422 | ) | ||||
Mastercard, Inc. - Class A | (90 | ) | (40,431 | ) | ||||
PayPal Holdings, Inc. | (354 | ) | (21,718 | ) | ||||
Rocket Cos., Inc. - Class A | (7,160 | ) | (88,140 | ) | ||||
Toast, Inc. - Class A | (566 | ) | (10,058 | ) | ||||
(397,113 | ) | |||||||
Food Products — (0.99)% | ||||||||
Archer-Daniels-Midland Co. | (9,584 | ) | (532,679 | ) | ||||
Campbell Soup Co. | (2,189 | ) | (97,695 | ) | ||||
Conagra Brands, Inc. | (3,232 | ) | (94,213 | ) | ||||
General Mills, Inc. | (5,370 | ) | (348,567 | ) | ||||
Hain Celestial Group, Inc. | (11,127 | ) | (119,170 | ) | ||||
Hershey Co. | (1,291 | ) | (249,860 | ) | ||||
Hormel Foods Corp. | (1,914 | ) | (58,128 | ) | ||||
McCormick & Co., Inc. | (1,712 | ) | (116,690 | ) | ||||
Mondelez International, Inc. - Class A | (6,089 | ) | (458,319 | ) | ||||
Nestle SA(b) | (654 | ) | (74,524 | ) | ||||
(2,149,845 | ) | |||||||
Ground Transportation — (1.31)% | ||||||||
ArcBest Corp. | (2,709 | ) | (322,723 | ) | ||||
Canadian National Railway Company(b) | (901 | ) | (111,760 | ) | ||||
Hertz Global Holdings, Inc. | (12,351 | ) | (103,131 | ) | ||||
Knight-Swift Transportation Holdings, Inc. | (5,905 | ) | (338,829 | ) | ||||
Landstar System, Inc. | (348 | ) | (66,719 | ) | ||||
Old Dominion Freight Line, Inc. | (1,895 | ) | (740,983 | ) | ||||
Ryder System, Inc. | (3,536 | ) | (401,584 | ) | ||||
Saia, Inc. | (1,681 | ) | (757,425 | ) | ||||
(2,843,154 | ) | |||||||
Health Care Equipment & Supplies — (0.43)% | ||||||||
Baxter International, Inc. | (5,765 | ) | (223,048 | ) | ||||
Becton Dickinson & Co. | (164 | ) | (39,165 | ) | ||||
Edwards Lifesciences Corp. | (2,138 | ) | (167,769 | ) | ||||
GE HealthCare Technologies, Inc. | (2,924 | ) | (214,505 | ) | ||||
IDEXX Laboratories, Inc. | (107 | ) | (55,114 | ) | ||||
Intuitive Surgical, Inc. | (197 | ) | (74,509 | ) | ||||
ResMed, Inc. | (749 | ) | (142,460 | ) | ||||
Shockwave Medical, Inc. | (125 | ) | (28,281 | ) | ||||
(944,851 | ) | |||||||
Health Care Providers & Services — (0.78)% | ||||||||
Acadia Healthcare Co., Inc. | (1,514 | ) | (124,360 | ) | ||||
Amedisys, Inc. | (1,230 | ) | (115,952 | ) | ||||
Cardinal Health, Inc. | (1,641 | ) | (179,181 | ) | ||||
Centene Corp. | (2,433 | ) | (183,229 | ) | ||||
CVS Health Corp. | (1,795 | ) | (133,494 | ) | ||||
DaVita, Inc. | (368 | ) | (39,803 | ) | ||||
Fresenius Medical Care AG(b) | (2,609 | ) | (100,836 | ) | ||||
HCA Holdings, Inc. | (327 | ) | (99,702 | ) | ||||
LifeStance Health Group, Inc. | (1,627 | ) | (9,729 | ) | ||||
Molina Healthcare, Inc. | (501 | ) | (178,576 | ) | ||||
Option Care Health, Inc. | (2,851 | ) | (89,065 | ) | ||||
R1 RCM, Inc. | (23,358 | ) | (239,187 | ) | ||||
Tenet Healthcare Corp. | (1,296 | ) | (107,231 | ) | ||||
UnitedHealth Group, Inc. | (196 | ) | (100,301 | ) | ||||
(1,700,646 | ) | |||||||
Health Care REITs — (0.12)% | ||||||||
Omega Healthcare Investors, Inc. | (9,308 | ) | (269,932 | ) | ||||
Health Care Technology — (0.15)% | ||||||||
Definitive Healthcare Corp. | (4,406 | ) | (37,451 | ) | ||||
Doximity, Inc. - Class A | (4,950 | ) | (133,402 | ) | ||||
Schrodinger, Inc. | (905 | ) | (23,937 | ) | ||||
Teladoc Health, Inc. | (546 | ) | (10,609 | ) | ||||
Veeva Systems, Inc. - Class A | (574 | ) | (119,053 | ) | ||||
(324,452 | ) | |||||||
Hotel & Resort REITs — (0.23)% | ||||||||
Park Hotels & Resorts, Inc. | (26,438 | ) | (398,684 | ) | ||||
Pebblebrook Hotel Trust | (6,176 | ) | (93,999 | ) | ||||
(492,683 | ) | |||||||
Hotels, Restaurants & Leisure — (3.06)% | ||||||||
Airbnb, Inc. - Class A | (3,052 | ) | (439,915 | ) | ||||
Bally's Corp. | (6,902 | ) | (77,716 | ) | ||||
BJ's Restaurants, Inc. | (1,041 | ) | (36,029 | ) | ||||
Booking Holdings, Inc. | (1 | ) | (3,507 | ) | ||||
Caesars Entertainment, Inc. | (664 | ) | (29,130 | ) | ||||
Carnival Corp.(b) | (2,118 | ) | (35,116 | ) | ||||
Cava Group, Inc. | (2,818 | ) | (131,882 | ) | ||||
Cheesecake Factory, Inc. | (172 | ) | (5,912 | ) | ||||
Choice Hotels International, Inc. | (5,359 | ) | (649,082 | ) | ||||
Darden Restaurants, Inc. | (3,082 | ) | (501,072 | ) | ||||
Dave & Buster's Entertainment, Inc. | (3,213 | ) | (171,992 | ) | ||||
Dine Brands Global, Inc. | (3,559 | ) | (166,027 | ) | ||||
DraftKings, Inc. - Class A | (361 | ) | (14,097 | ) | ||||
Evolution AB(b) | (776 | ) | (90,609 | ) | ||||
Expedia Group, Inc. | (1,149 | ) | (170,431 | ) | ||||
Hilton Grand Vacations, Inc. | (1,602 | ) | (66,803 | ) | ||||
Hyatt Hotels Corp. - Class A | (4,017 | ) | (515,662 | ) | ||||
Jack in the Box, Inc. | (646 | ) | (50,369 | ) | ||||
Kura Sushi USA, Inc. - Class A | (588 | ) | (57,700 | ) | ||||
Light & Wonder, Inc. | (1,658 | ) | (133,270 | ) | ||||
Marriott International, Inc. - Class A | (3,260 | ) | (781,520 | ) | ||||
McDonald's Corp. | (1,422 | ) | (416,248 | ) | ||||
MGM Resorts International | (14,317 | ) | (620,928 | ) | ||||
Norwegian Cruise Line Holdings Ltd.(b) | (48,650 | ) | (865,970 | ) | ||||
Red Rock Resorts, Inc. - Class A | (616 | ) | (33,683 | ) | ||||
Starbucks Corp. | (1,809 | ) | (168,291 | ) | ||||
Sweetgreen, Inc. - Class A | (2,125 | ) | (22,695 | ) | ||||
Wendy's Co. | (7,879 | ) | (150,331 | ) | ||||
Wingstop, Inc. | (653 | ) | (183,565 | ) | ||||
Yum! Brands, Inc. | (565 | ) | (73,162 | ) | ||||
(6,662,714 | ) | |||||||
Household Durables — (0.16)% | ||||||||
Helen of Troy Ltd.(b) | (109 | ) | (12,481 | ) | ||||
KB Home | (1,132 | ) | (67,456 | ) | ||||
Leggett & Platt, Inc. | (310 | ) | (7,195 | ) | ||||
LGI Homes, Inc. | (452 | ) | (53,341 | ) | ||||
Mohawk Industries, Inc. | (381 | ) | (39,719 | ) | ||||
NVR, Inc. | (5 | ) | (35,376 | ) | ||||
Whirlpool Corporation | (1,186 | ) | (129,891 | ) | ||||
(345,459 | ) | |||||||
Household Products — (0.42)% | ||||||||
Central Garden & Pet Co. | (336 | ) | (15,758 | ) | ||||
Church & Dwight Co., Inc. | (2,147 | ) | (214,378 | ) | ||||
Kimberly-Clark Corp. | (3,145 | ) | (380,451 | ) | ||||
Procter & Gamble Co. | (1,919 | ) | (301,552 | ) | ||||
(912,139 | ) | |||||||
Industrial Conglomerates — (0.03)% | ||||||||
3M Company | (685 | ) | (64,630 | ) | ||||
General Electric Co. | (37 | ) | (4,900 | ) | ||||
(69,530 | ) | |||||||
Industrial REITs — (3.26)% | ||||||||
Plymouth Industrial REIT, Inc. | (18,981 | ) | (420,239 | ) | ||||
Prologis, Inc. | (30,638 | ) | (3,881,528 | ) | ||||
Terreno Realty Corp. | (46,823 | ) | (2,796,738 | ) | ||||
(7,098,505 | ) | |||||||
Insurance — (0.76)% | ||||||||
Aflac, Inc. | (322 | ) | (27,157 | ) | ||||
Aon PLC - Class A(b) | (1,060 | ) | (316,336 | ) | ||||
Fidelity National Financial, Inc. | (3,586 | ) | (179,408 | ) | ||||
First American Financial Corp. | (4,769 | ) | (287,808 | ) | ||||
Goosehead Insurance, Inc. - Class A | (358 | ) | (27,638 | ) | ||||
Hartford Financial Services Group, Inc. | (1,629 | ) | (141,658 | ) | ||||
Kinsale Capital Group, Inc. | (73 | ) | (29,023 | ) | ||||
Lincoln National Corp. | (2,636 | ) | (72,358 | ) | ||||
Marsh & McLennan Cos., Inc. | (359 | ) | (69,589 | ) | ||||
Palomar Holdings, Inc. | (849 | ) | (50,830 | ) | ||||
Ryan Specialty Holdings, Inc. | (1,954 | ) | (84,647 | ) | ||||
Swiss Re AG(b) | (1,527 | ) | (174,842 | ) | ||||
Zurich Insurance Group AG(b) | (362 | ) | (183,928 | ) | ||||
(1,645,222 | ) | |||||||
Interactive Media & Services — (0.11)% | ||||||||
Alphabet, Inc. - Class A | (1,436 | ) | (201,184 | ) | ||||
Alphabet, Inc. - Class C | (167 | ) | (23,681 | ) | ||||
fuboTV, Inc. | (29 | ) | (72 | ) | ||||
Snap, Inc. - Class A | (1,214 | ) | (19,290 | ) | ||||
(244,227 | ) | |||||||
IT Services — (0.36)% | ||||||||
Accenture PLC - Class A(b) | (905 | ) | (329,311 | ) | ||||
Cognizant Technology Solutions Corp. - Class A | (5,898 | ) | (454,854 | ) | ||||
(784,165 | ) | |||||||
Leisure Products — (0.12)% | ||||||||
Topgolf Callaway Brands Corp. | (3,982 | ) | (52,443 | ) | ||||
YETI Holdings, Inc. | (4,823 | ) | (212,067 | ) | ||||
(264,510 | ) | |||||||
Life Sciences Tools & Services — (0.70)% | ||||||||
10X Genomics, Inc. - Class A | (647 | ) | (26,960 | ) | ||||
Avantor, Inc. | (16,177 | ) | (371,909 | ) | ||||
Charles River Laboratories International, Inc. | (1,155 | ) | (249,803 | ) | ||||
Evotec S.E.(b) | (2,095 | ) | (32,047 | ) | ||||
IQVIA Holdings, Inc. | (2,782 | ) | (579,297 | ) | ||||
Repligen Corp. | (647 | ) | (122,542 | ) | ||||
Waters Corp. | (413 | ) | (131,214 | ) | ||||
(1,513,772 | ) | |||||||
Machinery — (1.27)% | ||||||||
Caterpillar, Inc. | (2,884 | ) | (866,094 | ) | ||||
CNH Industrial NV(b) | (10,120 | ) | (121,440 | ) | ||||
Cummins, Inc. | (745 | ) | (178,278 | ) | ||||
Donaldson Co., Inc. | (532 | ) | (34,362 | ) | ||||
Dover Corp. | (724 | ) | (108,441 | ) | ||||
Fortive Corp. | (1,220 | ) | (95,380 | ) | ||||
Gates Industrial Corp. PLC(b) | (3,856 | ) | (49,665 | ) | ||||
Illinois Tool Works, Inc. | (1,164 | ) | (303,688 | ) | ||||
Ingersoll Rand, Inc. | (5,358 | ) | (427,890 | ) | ||||
Kennametal, Inc. | (4,105 | ) | (100,655 | ) | ||||
Lincoln Electric Holdings, Inc. | (310 | ) | (68,888 | ) | ||||
Otis Worldwide Corp. | (1,412 | ) | (124,877 | ) | ||||
PACCAR, Inc. | (463 | ) | (46,481 | ) | ||||
Stanley Black & Decker, Inc. | (1,239 | ) | (115,599 | ) | ||||
Timken Co. | (1,507 | ) | (123,438 | ) | ||||
(2,765,176 | ) | |||||||
Media — (0.62)% | ||||||||
Charter Communications, Inc. - Class A | (2,006 | ) | (743,643 | ) | ||||
Comcast Corp. - Class A | (8,975 | ) | (417,697 | ) | ||||
Paramount Global - Class B | (3,231 | ) | (47,140 | ) | ||||
Sinclair, Inc. | (3,167 | ) | (49,722 | ) | ||||
Sirius XM Holdings, Inc. | (16,237 | ) | (82,646 | ) | ||||
Trade Desk, Inc. - Class A | (271 | ) | (18,545 | ) | ||||
(1,359,393 | ) | |||||||
Metals & Mining — (1.58)% | ||||||||
Alumina Ltd.(b) | (148,450 | ) | (111,681 | ) | ||||
ArcelorMittal S.A.(b) | (9,266 | ) | (254,537 | ) | ||||
BHP Group Ltd. - ADR(b) | (4,683 | ) | (286,693 | ) | ||||
Cleveland-Cliffs, Inc. | (3,580 | ) | (71,779 | ) | ||||
Compass Minerals International, Inc. | (2,944 | ) | (66,211 | ) | ||||
Constellium SE(b) | (8,096 | ) | (151,800 | ) | ||||
Core Lithium Ltd.(b) | (182,278 | ) | (22,893 | ) | ||||
Coronado Global Resources, Inc. | (45,453 | ) | (48,347 | ) | ||||
Freeport-McMoRan, Inc. | (3,749 | ) | (148,798 | ) | ||||
IGO Ltd.(b) | (57,091 | ) | (277,532 | ) | ||||
Impala Platinum Holdings Ltd.(b) | (14,720 | ) | (57,138 | ) | ||||
Lithium Americas Corp.(b) | (13,732 | ) | (59,872 | ) | ||||
Lundin Mining Corp.(b) | (8,975 | ) | (73,298 | ) | ||||
Newmont Corp. | (1,840 | ) | (63,498 | ) | ||||
Nucor Corp. | (3,551 | ) | (663,788 | ) | ||||
Pilbara Minerals Ltd.(b) | (143,928 | ) | (327,821 | ) | ||||
Sibanye Stillwater Ltd. - ADR(b) | (14,621 | ) | (70,766 | ) | ||||
South32 Ltd.(b) | (18,350 | ) | (39,732 | ) | ||||
Southern Copper Corp. | (4,326 | ) | (355,165 | ) | ||||
Steel Dynamics, Inc. | (2,296 | ) | (277,104 | ) | ||||
Stelco Holdings, Inc.(b) | (471 | ) | (15,120 | ) | ||||
(3,443,573 | ) | |||||||
Mortgage Real Estate Investment Trusts (REITs) — (0.10)% | ||||||||
AGNC Investment Corp. | (7,200 | ) | (68,256 | ) | ||||
Blackstone Mortgage Trust, Inc. - Class A | (7,033 | ) | (138,831 | ) | ||||
(207,087 | ) | |||||||
Office REITs — (2.61)% | ||||||||
Alexandria Real Estate Equities, Inc. | (39,602 | ) | (4,787,883 | ) | ||||
Kilroy Realty Corp. | (24,837 | ) | (888,171 | ) | ||||
(5,676,054 | ) | |||||||
Oil, Gas & Consumable Fuels — (2.02)% | ||||||||
Alliance Resource Partners LP | (308 | ) | (6,471 | ) | ||||
Amplify Energy Corp. | (1,148 | ) | (7,026 | ) | ||||
Antero Resources Corp. | (1 | ) | (22 | ) | ||||
APA Corp. | (5,648 | ) | (176,952 | ) | ||||
Ardmore Shipping Corp.(b) | (129 | ) | (2,138 | ) | ||||
Berry Corp. | (311 | ) | (2,087 | ) | ||||
Black Stone Minerals LP | (2,824 | ) | (46,314 | ) | ||||
BP PLC - ADR(b) | (6,030 | ) | (211,653 | ) | ||||
Callon Petroleum Co. | (1,850 | ) | (59,422 | ) | ||||
Cameco Corp.(a) | (7,528 | ) | (359,462 | ) | ||||
Cenovus Energy, Inc.(b) | (10,026 | ) | (162,221 | ) | ||||
Centrus Energy Corp. - Class A | (38 | ) | (1,908 | ) | ||||
Cheniere Energy, Inc. | (3,492 | ) | (572,654 | ) | ||||
Civitas Resources, Inc. | (1,550 | ) | (100,455 | ) | ||||
CNX Resources Corp. | (7,538 | ) | (152,268 | ) | ||||
Comstock Resources, Inc. | (256 | ) | (1,999 | ) | ||||
CONSOL Energy, Inc. | (2,896 | ) | (273,962 | ) | ||||
Cool Co. Ltd.(b) | (81 | ) | (966 | ) | ||||
Coterra Energy, Inc. | (10,106 | ) | (251,437 | ) | ||||
Delek Logistics Partners LP | (302 | ) | (14,182 | ) | ||||
Delek U.S. Holdings, Inc. | (542 | ) | (14,650 | ) | ||||
DHT Holdings, Inc.(b) | (191 | ) | (2,124 | ) | ||||
DT Midstream, Inc. | (164 | ) | (8,805 | ) | ||||
Energy Fuels, Inc.(b) | (1,059 | ) | (7,995 | ) | ||||
EOG Resources, Inc. | (1,761 | ) | (200,384 | ) | ||||
EQT Corp. | (5,879 | ) | (208,117 | ) | ||||
EQUINOR ASA - ADR(b) | (6,052 | ) | (173,511 | ) | ||||
Euronav NV(b) | (120 | ) | (2,118 | ) | ||||
Evolution Petroleum Corp. | (249 | ) | (1,397 | ) | ||||
Excelerate Energy, Inc. - Class A | (473 | ) | (7,246 | ) | ||||
FLEX LNG Ltd.(b) | (70 | ) | (2,098 | ) | ||||
Frontline PLC(b) | (92 | ) | (2,087 | ) | ||||
FutureFuel Corp. | (146 | ) | (832 | ) | ||||
Geopark Ltd.(b) | (531 | ) | (4,667 | ) | ||||
Golar LNG Ltd.(b) | (89 | ) | (1,941 | ) | ||||
Gran Tierra Energy, Inc.(b) | (1,302 | ) | (7,265 | ) | ||||
Hess Midstream LP - Class A | (1,165 | ) | (39,389 | ) | ||||
Imperial Petroleum, Inc.(b) | (372 | ) | (1,265 | ) | ||||
International Seaways, Inc.(b) | (39 | ) | (2,092 | ) | ||||
Magnolia Oil & Gas Corp. - Class A | (104 | ) | (2,144 | ) | ||||
Matador Resources Co. | (38 | ) | (2,086 | ) | ||||
MPLX LP | (1,671 | ) | (64,417 | ) | ||||
Navigator Holdings Ltd.(b) | (129 | ) | (2,077 | ) | ||||
New Fortress Energy, Inc. | (152 | ) | (5,051 | ) | ||||
Northern Oil & Gas, Inc. | (108 | ) | (3,618 | ) | ||||
Occidental Petroleum Corp. | (4,761 | ) | (274,091 | ) | ||||
OPAL Fuels, Inc. - Class A | (65 | ) | (315 | ) | ||||
Ovintiv, Inc. | (2,573 | ) | (109,147 | ) | ||||
Permian Basin Royalty Trust | (91 | ) | (1,300 | ) | ||||
Pioneer Natural Resources Co. | (68 | ) | (15,628 | ) | ||||
Plains All American Pipeline LP | (3,914 | ) | (60,432 | ) | ||||
Plains GP Holdings LP | (128 | ) | (2,071 | ) | ||||
Range Resources Corp. | (67 | ) | (1,946 | ) | ||||
Sabine Royalty Trust | (16 | ) | (979 | ) | ||||
San Juan Basin Royalty Trust | (246 | ) | (1,186 | ) | ||||
SandRidge Energy, Inc. | (147 | ) | (2,146 | ) | ||||
Scorpio Tankers, Inc.(b) | (30 | ) | (2,121 | ) | ||||
SilverBow Resources, Inc. | (79 | ) | (2,098 | ) | ||||
SM Energy Co. | (55 | ) | (2,039 | ) | ||||
Suncor Energy, Inc.(b) | (5,673 | ) | (187,890 | ) | ||||
Talos Energy, Inc. | (162 | ) | (2,101 | ) | ||||
Targa Resources Corp. | (224 | ) | (19,031 | ) | ||||
TC Energy Corp.(b) | (486 | ) | (19,163 | ) | ||||
Teekay Tankers Ltd. - Class A(b) | (204 | ) | (12,760 | ) | ||||
Texas Pacific Land Corp. | (2 | ) | (2,923 | ) | ||||
TORM PLC - Class A(b) | (57 | ) | (2,049 | ) | ||||
TotalEnergies SE - ADR(b) | (3,166 | ) | (206,360 | ) | ||||
Tsakos Energy Navigation Ltd.(b) | (86 | ) | (2,113 | ) | ||||
Unit Corp. | (54 | ) | (2,152 | ) | ||||
Uranium Energy Corp. | (420 | ) | (3,209 | ) | ||||
Uranium Royalty Corp.(b) | (582 | ) | (1,967 | ) | ||||
Vital Energy, Inc. | (4,567 | ) | (200,172 | ) | ||||
W&T Offshore, Inc. | (701 | ) | (2,131 | ) | ||||
Western Midstream Partners LP | (2,155 | ) | (61,913 | ) | ||||
Williams Cos., Inc. | (353 | ) | (12,235 | ) | ||||
World Kinect Corp. | (175 | ) | (3,950 | ) | ||||
(4,388,593 | ) | |||||||
Paper & Forest Products — (0.04)% | ||||||||
Louisiana-Pacific Corp. | (1,462 | ) | (97,296 | ) | ||||
Passenger Airlines — (0.07)% | ||||||||
Hawaiian Holdings, Inc. | (2,312 | ) | (32,946 | ) | ||||
Southwest Airlines Co. | (3,052 | ) | (91,224 | ) | ||||
United Airlines Holdings, Inc. | (905 | ) | (37,449 | ) | ||||
(161,619 | ) | |||||||
Personal Care Products — (0.10)% | ||||||||
Estee Lauder Cos., Inc. - Class A | (1,224 | ) | (161,557 | ) | ||||
Medifast, Inc. | (922 | ) | (50,387 | ) | ||||
(211,944 | ) | |||||||
Pharmaceuticals — (0.98)% | ||||||||
Amylyx Pharmaceuticals, Inc. | (736 | ) | (11,776 | ) | ||||
Arvinas, Inc. | (362 | ) | (15,023 | ) | ||||
AstraZeneca plc - ADR(b) | (288 | ) | (19,192 | ) | ||||
Athira Pharma, Inc. | (118 | ) | (374 | ) | ||||
Catalent, Inc. | (2,899 | ) | (149,704 | ) | ||||
GSK PLC - ADR(b) | (3,613 | ) | (142,497 | ) | ||||
H Lundbeck AS(b) | (5,475 | ) | (27,731 | ) | ||||
Johnson & Johnson | (1,749 | ) | (277,916 | ) | ||||
Merck KGaA(b) | (1,446 | ) | (237,253 | ) | ||||
Novartis AG(b) | (1,110 | ) | (114,789 | ) | ||||
Novartis AG - ADR(b) | (2,443 | ) | (252,776 | ) | ||||
Perrigo Co. PLC(b) | (6,026 | ) | (193,314 | ) | ||||
Phathom Pharmaceuticals, Inc. | (5,520 | ) | (36,984 | ) | ||||
Roche Holding AG(b) | (443 | ) | (126,129 | ) | ||||
Roche Holding AG - ADR(b) | (3,177 | ) | (111,640 | ) | ||||
Royalty Pharma PLC - Class A(b) | (7,848 | ) | (222,805 | ) | ||||
Sanofi SA - ADR(b) | (1,104 | ) | (55,090 | ) | ||||
Tarsus Pharmaceuticals, Inc. | (1,253 | ) | (34,132 | ) | ||||
Zoetis, Inc. | (560 | ) | (105,174 | ) | ||||
(2,134,299 | ) | |||||||
Professional Services — (0.34)% | ||||||||
Equifax, Inc. | (821 | ) | (200,603 | ) | ||||
Exponent, Inc. | (1,231 | ) | (108,562 | ) | ||||
Leidos Holdings, Inc. | (1,703 | ) | (188,130 | ) | ||||
Paychex, Inc. | (301 | ) | (36,641 | ) | ||||
Science Applications International Corporation | (1,659 | ) | (211,788 | ) | ||||
(745,724 | ) | |||||||
Residential REITs — (0.52)% | ||||||||
American Homes 4 Rent - Class A | (2,894 | ) | (101,435 | ) | ||||
Essex Property Trust, Inc. | (2,483 | ) | (579,209 | ) | ||||
UDR, Inc. | (12,820 | ) | (461,776 | ) | ||||
(1,142,420 | ) | |||||||
Retail REITs — (2.99)% | ||||||||
Federal Realty Investment Trust | (13,128 | ) | (1,335,511 | ) | ||||
Kimco Realty Corp. | (68,185 | ) | (1,377,337 | ) | ||||
Kite Realty Group Trust | (43,530 | ) | (931,542 | ) | ||||
Phillips Edison & Co., Inc. | (41,885 | ) | (1,453,828 | ) | ||||
Regency Centers Corp. | (6,462 | ) | (404,974 | ) | ||||
Simon Property Group, Inc. | (7,199 | ) | (997,853 | ) | ||||
(6,501,045 | ) | |||||||
Semiconductors & Semiconductor Equipment — (0.82)% | ||||||||
Advanced Micro Devices, Inc. | (340 | ) | (57,015 | ) | ||||
Allegro MicroSystems, Inc. | (942 | ) | (24,435 | ) | ||||
Analog Devices, Inc. | (552 | ) | (106,183 | ) | ||||
ARM Holdings PLC - ADR(b) | (3,590 | ) | (253,705 | ) | ||||
BE Semiconductor Industries NV(b) | (1,629 | ) | (244,802 | ) | ||||
Entegris, Inc. | (465 | ) | (54,730 | ) | ||||
MaxLinear, Inc. | (3,982 | ) | (82,905 | ) | ||||
NXP Semiconductors N.V.(b) | (920 | ) | (193,724 | ) | ||||
ON Semiconductor Corporation | (1,448 | ) | (102,996 | ) | ||||
QUALCOMM, Inc. | (537 | ) | (79,750 | ) | ||||
Skyworks Solutions, Inc. | (1,077 | ) | (112,503 | ) | ||||
STMicroelectronics NV(b) | (4,943 | ) | (218,085 | ) | ||||
Texas Instruments, Inc. | (905 | ) | (144,909 | ) | ||||
Wolfspeed, Inc. | (3,595 | ) | (117,017 | ) | ||||
(1,792,759 | ) | |||||||
Software — (0.55)% | ||||||||
Adobe, Inc. | (57 | ) | (35,213 | ) | ||||
BILL Holdings, Inc. | (183 | ) | (14,283 | ) | ||||
Braze, Inc. - Class A | (14 | ) | (757 | ) | ||||
Confluent, Inc. - Class A | (2,343 | ) | (52,389 | ) | ||||
Datadog, Inc. - Class A | (967 | ) | (120,333 | ) | ||||
Fortinet, Inc. | (2,715 | ) | (175,090 | ) | ||||
Klaviyo, Inc. - Class A | (3,901 | ) | (100,841 | ) | ||||
Palo Alto Networks, Inc. | (1,253 | ) | (424,153 | ) | ||||
Procore Technologies, Inc. | (164 | ) | (11,708 | ) | ||||
Rapid7, Inc. | (3,103 | ) | (170,758 | ) | ||||
Roper Technologies, Inc. | (72 | ) | (38,664 | ) | ||||
UiPath, Inc. - Class A | (1,465 | ) | (33,666 | ) | ||||
Unity Software, Inc. | (329 | ) | (10,660 | ) | ||||
(1,188,515 | ) | |||||||
Specialized REITs — (4.35)% | ||||||||
American Tower Corp. | (11,852 | ) | (2,318,844 | ) | ||||
Equinix, Inc. | (3,378 | ) | (2,802,963 | ) | ||||
Extra Space Storage, Inc. | (16,589 | ) | (2,396,115 | ) | ||||
Four Corners Property Trust, Inc. | (77,316 | ) | (1,809,968 | ) | ||||
Weyerhaeuser Co. | (4,253 | ) | (139,371 | ) | ||||
(9,467,261 | ) | |||||||
Specialty Retail — (1.20)% | ||||||||
AutoZone, Inc. | (121 | ) | (334,218 | ) | ||||
Best Buy Co., Inc. | (1,038 | ) | (75,245 | ) | ||||
Boot Barn Holdings, Inc. | (183 | ) | (13,128 | ) | ||||
CarMax, Inc. | (6,286 | ) | (447,438 | ) | ||||
Dick's Sporting Goods, Inc. | (1,127 | ) | (168,002 | ) | ||||
Floor & Decor Holdings, Inc. - Class A | (1,368 | ) | (137,566 | ) | ||||
Foot Locker, Inc. | (2,024 | ) | (56,996 | ) | ||||
Lithia Motors, Inc. | (401 | ) | (118,235 | ) | ||||
Lowe's Cos., Inc. | (445 | ) | (94,714 | ) | ||||
Murphy USA, Inc. | (559 | ) | (197,059 | ) | ||||
Ross Stores, Inc. | (69 | ) | (9,679 | ) | ||||
TJX Cos., Inc. | (2,681 | ) | (254,454 | ) | ||||
Tractor Supply Co. | (1,374 | ) | (308,600 | ) | ||||
Ulta Beauty, Inc. | (163 | ) | (81,834 | ) | ||||
Williams-Sonoma, Inc. | (1,603 | ) | (310,004 | ) | ||||
(2,607,172 | ) | |||||||
Technology Hardware, Storage & Peripherals — (0.54)% | ||||||||
Apple, Inc. | (6,222 | ) | (1,147,337 | ) | ||||
Super Micro Computer, Inc. | (72 | ) | (38,132 | ) | ||||
(1,185,469 | ) | |||||||
Textiles, Apparel & Luxury Goods — (0.35)% | ||||||||
Adidas AG(b) | (773 | ) | (145,933 | ) | ||||
Canada Goose Holdings, Inc.(b) | (3,065 | ) | (36,749 | ) | ||||
Columbia Sportswear Co. | (1,663 | ) | (131,809 | ) | ||||
G-III Apparel Group Ltd. | (3,126 | ) | (94,061 | ) | ||||
Lululemon Athletica, Inc.(b) | (220 | ) | (99,840 | ) | ||||
On Holding AG - Class A(b) | (1,257 | ) | (33,386 | ) | ||||
Ralph Lauren Corp. | (1,464 | ) | (210,333 | ) | ||||
(752,111 | ) | |||||||
Trading Companies & Distributors — (0.19)% | ||||||||
Ferguson PLC(b) | (814 | ) | (152,918 | ) | ||||
MSC Industrial Direct Co., Inc. - Class A | (724 | ) | (71,444 | ) | ||||
United Rentals, Inc. | (240 | ) | (150,096 | ) | ||||
Watsco, Inc. | (127 | ) | (49,654 | ) | ||||
(424,112 | ) | |||||||
Total Common Stocks (Proceeds $99,762,627) | (99,831,325 | ) | ||||||
Short Exchange Traded Funds — (21.28)% | ||||||||
Equity – (21.28)% | ||||||||
AdvisorShares Pure US Cannabis ETF | (8,314 | ) | $ | (77,985 | ) | |||
Amplify Alternative Harvest ETF | (42,337 | ) | (152,836 | ) | ||||
ARK Genomic Revolution ETF | (123 | ) | (3,498 | ) | ||||
ARK Innovation ETF | (11,856 | ) | (538,381 | ) | ||||
Consumer Staples Select Sector SPDR Fund | (35,443 | ) | (2,584,503 | ) | ||||
Energy Select Sector SPDR Fund | (3,618 | ) | (301,777 | ) | ||||
Global X Lithium & Battery Tech ETF | (4,845 | ) | (200,825 | ) | ||||
Health Care Select Sector SPDR Fund | (8,241 | ) | (1,156,872 | ) | ||||
Industrial Select Sector SPDR Fund | (9,522 | ) | (1,074,939 | ) | ||||
Invesco QQQ Trust Series 1 | (1,751 | ) | (730,114 | ) | ||||
Invesco S&P 500 Equal Weight ETF | (5,074 | ) | (793,878 | ) | ||||
iShares China Large-Cap ETF | (22,680 | ) | (493,517 | ) | ||||
iShares Core DAX UCITS ETF DE(b) | (444 | ) | (67,688 | ) | ||||
iShares MSCI Emerging Markets ETF | (2,018 | ) | (77,471 | ) | ||||
iShares MSCI Germany Index Fund ETF | (3,669 | ) | (106,658 | ) | ||||
iShares Nasdaq Biotechnology ETF | (1,046 | ) | (140,561 | ) | ||||
iShares North American Tech-Software ETF | (1,658 | ) | (696,990 | ) | ||||
iShares Russell 2000 ETF | (97,710 | ) | (18,846,306 | ) | ||||
iShares U.S. Transportation ETF | (1,133 | ) | (292,563 | ) | ||||
KraneShares CSI China Internet ETF | (158 | ) | (3,688 | ) | ||||
Material Select Sector SPDR | (1,621 | ) | (133,262 | ) | ||||
SPDR S&P 500 ETF Trust | (16,842 | ) | (8,132,666 | ) | ||||
SPDR S&P Biotech ETF | (3,244 | ) | (283,623 | ) | ||||
SPDR S&P Homebuilders ETF | (2,925 | ) | (274,365 | ) | ||||
SPDR S&P Metals & Mining ETF | (8,612 | ) | (492,434 | ) | ||||
SPDR S&P Oil & Gas Exploration & Production ETF | (4,658 | ) | (619,607 | ) | ||||
SPDR S&P Regional Banking ETF | (10,662 | ) | (529,901 | ) | ||||
SPDR S&P Retail ETF | (11,352 | ) | (778,747 | ) | ||||
U.S. Global Jets ETF | (6,467 | ) | (121,256 | ) | ||||
VanEck Junior Gold Miners ETF | (1,817 | ) | (61,415 | ) | ||||
VanEck Oil Services ETF | (1,592 | ) | (465,692 | ) | ||||
VanEck Vectors Gold Miners ETF | (4,312 | ) | (120,477 | ) | ||||
VanEck Vectors Semiconductor ETF | (1,714 | ) | (318,581 | ) | ||||
Vanguard REIT ETF | (67,645 | ) | (5,674,740 | ) | ||||
Total Short Exchange Traded Funds (Proceeds $46,304,401) | (46,347,816 | ) | ||||||
Short Preferred Stocks — (0.09)% | ||||||||
Sartorius AG(b) | (529 | ) | $ | (192,980 | ) | |||
Total Short Preferred Stocks (Proceeds $161,284) | (192,980 | ) | ||||||
Total Securities Sold Short (Proceeds $146,228,312) — (67.22)% | $ | (146,372,121 | ) |
(a) | Securities sold short are not owned by the Fund and cannot produce income. |
(b) | Foreign issued security. |
ADR – American Depository Receipt ETF – Exchange Traded Fund PLC – Public Limited Company |
Weiss Alternative Multi-Strategy Fund | ||||||||||||
Schedule of Written Options (Unaudited) | ||||||||||||
January 31, 2024 | ||||||||||||
WRITTEN OPTIONS | Contracts | Notional Amount | Value | |||||||||
Call | ||||||||||||
Affirm Holdings, Inc. (a) | ||||||||||||
Exercise Price: $60.00, Expiration: 04/19/2024 | (43 | ) | $ | (174,193 | ) | $ | (8,707 | ) | ||||
Alibaba Group Holding Ltd. (a) | ||||||||||||
Exercise Price: $80.00, Expiration: 02/02/2024 | (18 | ) | (129,906 | ) | (27 | ) | ||||||
Exercise Price: $90.00, Expiration: 02/16/2024 | (35 | ) | (252,595 | ) | (385 | ) | ||||||
Alphabet, Inc. (a) | ||||||||||||
Exercise Price: $160.00, Expiration: 02/02/2024 | (11 | ) | (155,980 | ) | (11 | ) | ||||||
Applied Digital Corp. (a) | ||||||||||||
Exercise Price: $7.00, Expiration: 03/01/2024 | (72 | ) | (37,008 | ) | (900 | ) | ||||||
Clorox Co. (a) | ||||||||||||
Exercise Price: $157.50, Expiration: 02/16/2024 | (43 | ) | (624,575 | ) | (3,655 | ) | ||||||
Cytokinetics, Inc. (a) | ||||||||||||
Exercise Price: $110.00, Expiration: 02/16/2024 | (4 | ) | (31,252 | ) | (210 | ) | ||||||
Endeavor Group Holdings, Inc. (a) | ||||||||||||
Exercise Price: $30.00, Expiration: 03/15/2024 | (72 | ) | (178,200 | ) | (360 | ) | ||||||
Gap, Inc. (a) | ||||||||||||
Exercise Price: $25.00, Expiration: 03/15/2024 | (49 | ) | (91,581 | ) | (711 | ) | ||||||
Marqeta, Inc. (a) | ||||||||||||
Exercise Price: $10.00, Expiration: 06/21/2024 | (171 | ) | (102,771 | ) | (1,710 | ) | ||||||
Meta Platforms, Inc. (a) | ||||||||||||
Exercise Price: $420.00, Expiration: 02/02/2024 | (9 | ) | (351,126 | ) | (2,970 | ) | ||||||
Microsoft Corp. (a) | ||||||||||||
Exercise Price: $435.00, Expiration: 02/02/2024 | (6 | ) | (238,548 | ) | (21 | ) | ||||||
Penn Entertainment, Inc. (a) | ||||||||||||
Exercise Price: $32.50, Expiration: 02/16/2024 | (21 | ) | (47,355 | ) | (53 | ) | ||||||
Exercise Price: $35.00, Expiration: 02/16/2024 | (24 | ) | (54,120 | ) | (108 | ) | ||||||
Exercise Price: $30.00, Expiration: 03/15/2024 | (13 | ) | (29,315 | ) | (254 | ) | ||||||
Phreesia, Inc. (a) | ||||||||||||
Exercise Price: $25.00, Expiration: 02/16/2024 | (36 | ) | (91,728 | ) | (4,680 | ) | ||||||
Procter & Gamble Co. (a) | ||||||||||||
Exercise Price: $160.00, Expiration: 03/15/2024 | (36 | ) | (565,704 | ) | (6,912 | ) | ||||||
Snap, Inc. (a) | ||||||||||||
Exercise Price: $22.00, Expiration: 02/16/2024 | (36 | ) | (57,204 | ) | (1,008 | ) | ||||||
Spectrum Brands Holdings, Inc. (a) | ||||||||||||
Exercise Price: $90.00, Expiration: 04/19/2024 | (13 | ) | (102,206 | ) | (877 | ) | ||||||
Tapestry, Inc. (a) | ||||||||||||
Exercise Price: $44.00, Expiration: 02/09/2024 | (36 | ) | (139,644 | ) | (360 | ) | ||||||
Wayfair, Inc. (a) | ||||||||||||
Exercise Price: $70.00, Expiration: 02/23/2024 | (11 | ) | (55,275 | ) | (869 | ) | ||||||
Wynn Resorts Ltd. (a) | ||||||||||||
Exercise Price: $105.00, Expiration: 02/16/2024 | (52 | ) | (491,036 | ) | (3,172 | ) | ||||||
(37,960 | ) | |||||||||||
Put | ||||||||||||
Alibaba Group Holding Ltd. (a) | ||||||||||||
Exercise Price: $70.00, Expiration: 02/02/2024 | (9 | ) | (64,953 | ) | (184 | ) | ||||||
Applied Digital Corp. (a) | ||||||||||||
Exercise Price: $5.50, Expiration: 02/09/2024 | (36 | ) | (18,504 | ) | (1,980 | ) | ||||||
Baker Hughes Co. (a) | ||||||||||||
Exercise Price: $29.00, Expiration: 02/16/2024 | (45 | ) | (128,250 | ) | (4,725 | ) | ||||||
Cameco Corp. (a) | ||||||||||||
Exercise Price: $42.00, Expiration: 02/16/2024 | (37 | ) | (176,675 | ) | (1,406 | ) | ||||||
Clorox Co. (a) | ||||||||||||
Exercise Price: $135.00, Expiration: 03/15/2024 | (36 | ) | (522,900 | ) | (6,210 | ) | ||||||
Cytokinetics, Inc. (a) | ||||||||||||
Exercise Price: $70.00, Expiration: 02/16/2024 | (1 | ) | (7,813 | ) | (145 | ) | ||||||
Masimo Corp. (a) | ||||||||||||
Exercise Price: $115.00, Expiration: 02/16/2024 | (1 | ) | (12,894 | ) | (65 | ) | ||||||
Microsoft Corp. (a) | ||||||||||||
Exercise Price: $390.00, Expiration: 02/02/2024 | (4 | ) | (159,032 | ) | (414 | ) | ||||||
Penn Entertainment, Inc. (a) | ||||||||||||
Exercise Price: $20.00, Expiration: 02/16/2024 | (32 | ) | (72,160 | ) | (1,168 | ) | ||||||
Phreesia, Inc. (a) | ||||||||||||
Exercise Price: $22.50, Expiration: 02/16/2024 | (36 | ) | (91,728 | ) | (450 | ) | ||||||
Exercise Price: $25.00, Expiration: 02/16/2024 | (17 | ) | (43,316 | ) | (1,233 | ) | ||||||
Rocket Cos., Inc. (a) | ||||||||||||
Exercise Price: $9.00, Expiration: 06/21/2024 | (124 | ) | (152,644 | ) | (5,456 | ) | ||||||
Schlumberger NV (a) | ||||||||||||
Exercise Price: $47.00, Expiration: 02/09/2024 | (9 | ) | (43,830 | ) | (360 | ) | ||||||
SPDR S&P 500 ETF (a) | ||||||||||||
Exercise Price: $466.00, Expiration: 02/16/2024 | (28 | ) | (1,352,064 | ) | (2,450 | ) | ||||||
Spectrum Brands Holdings, Inc. (a) | ||||||||||||
Exercise Price: $75.00, Expiration: 02/16/2024 | (18 | ) | (141,516 | ) | (1,755 | ) | ||||||
Transocean Ltd. (a) | ||||||||||||
Exercise Price: $5.50, Expiration: 03/01/2024 | (54 | ) | (29,484 | ) | (1,917 | ) | ||||||
(29,918 | ) | |||||||||||
Total Written Options (Premiums received $89,566) | $ | (67,878 | ) |
(a) | 100 shares per contract. |
Weiss Alternative Multi-Strategy Fund | |||||||||||||
Schedule of Open Futures Contracts (Unaudited) | |||||||||||||
1/31/2024 | |||||||||||||
Expiration Date | Description | Number of Contracts Purchased | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |||||||||
LONG FUTURES CONTRACTS | |||||||||||||
3/15/2024 | E-Mini Russell 2000 | 289 | $ | 28,262,755 | $ | 705,415 | |||||||
3/15/2024 | E-Mini S&P 500 | 122 | 29,710,050 | 1,137,945 | |||||||||
3/28/2024 | U.S. Treasury 2 Year Notes | 259 | 51,736,256 | 505,104 | |||||||||
$ | 2,348,464 | ||||||||||||
SHORT FUTURES CONTRACTS | |||||||||||||
9/17/2024 | 3-Month Secured Overnight Financing Rate | (4) | $ | (953,900 | ) | $ | (558 | ) |
Weiss Alternative Multi-Strategy Fund |
Schedule of Open Total Return Swap Contracts (Unaudited) |
January 31, 2024 |
Received by the Fund | Paid by the Fund | |||||||||||
Counterparty | Financing Rate/Security | Currency | Financing Rate/Security | Payment Frequency | Maturity Date | Number of Shares/Units | Notional Amount | Upfront Payments | Value of Unrealized Appreciation (Depreciation) | |||
LONG EQUITY SWAP CONTRACTS | ||||||||||||
Morgan Stanley | ABN AMRO Bank N.V. | EUR | 4.59% (0.600% + Euro Overnight Index Average) | Monthly | 4/29/2025 | 2,513 | $ | 34,223 | $ | - | ($ 243) | |
Morgan Stanley | Axa S.A. | GBP | 4.59% (0.600% + Euro Overnight Index Average) | Monthly | 4/29/2025 | 2,680 | 83,238 | - | 2,896 | |||
Morgan Stanley | CaixaBank S.A. | EUR | 4.59% (0.600% + Euro Overnight Index Average) | Monthly | 4/29/2025 | 35,857 | 141,477 | - | 3,692 | |||
Morgan Stanley | Coface S.A. | EUR | 4.59% (0.600% + Euro Overnight Index Average) | Monthly | 4/29/2025 | 5,668 | 70,871 | - | 482 | |||
Morgan Stanley | Cyclicals vs. Defensive Basket | USD | 0.850% Fixed Rate | Monthly | 4/29/2025 | 294 | 39,443 | - | 798 | |||
Morgan Stanley | Entain PLC | GBP | 5.79% (0.600% + Sterling Overnight Index Average) | Monthly | 6/4/2025 | 1,316 | 12,648 | - | (4,929) | |||
Morgan Stanley | Entain PLC | GBP | 5.79% (0.600% + Sterling Overnight Index Average) | Monthly | 6/3/2025 | 10,519 | 101,101 | - | (1,619) | |||
Morgan Stanley | Entain PLC | GBP | 5.79% (0.600% + Sterling Overnight Index Average) | Monthly | 4/29/2025 | 14,597 | 140,296 | - | (1,246) | |||
Morgan Stanley | Flutter Entertainment PLC | GBP | 5.79% (0.600% + Sterling Overnight Index Average) | |||||||||
Monthly | 2/2/2026 | 470 | - | - | - | |||||||
Morgan Stanley | GSK PLC | GBP | 5.79% (0.600% + Sterling Overnight Index Average) | Monthly | 4/29/2025 | 14,952 | 233,344 | - | 17,945 | |||
Morgan Stanley | Haleon PLC | GBP | 5.79% (0.600% + Sterling Overnight Index Average) | Monthly | 4/29/2025 | 3,641 | 11,670 | - | 113 | |||
Morgan Stanley | High Short Interest Basket | USD | 5.83% (0.500% + US Federal Funds Effective Rate INDEX) | |||||||||
Monthly | 11/10/2025 | 1,461 | 45,489 | - | (817) | |||||||
Morgan Stanley | HSBC Holdings PLC | GBP | 5.79% (0.600% + Sterling Overnight Index Average) | Monthly | 4/29/2025 | 18,397 | 113,342 | - | 1,389 | |||
Morgan Stanley | Intermediate Capital Group | GBP | 5.79% (0.600% + Sterling Overnight Index Average) | Monthly | 4/29/2025 | 808 | 14,374 | - | 109 | |||
Morgan Stanley | iShares iBoxx $ Invest Grade Corporate Bond ETF | GBP | 5.680% (0.350% + US Federal Funds Effective Rate INDEX) | |||||||||
Monthly | 4/29/2025 | 360,560 | 39,722,895 | - | 285,804 | |||||||
Morgan Stanley | iShares iBoxx High Yield Corporate Bond ETF | GBP | 5.330% (–% + US Federal Funds Effective Rate INDEX) | |||||||||
Monthly | 4/29/2025 | 515,622 | 39,950,393 | - | 1,340,507 | |||||||
Morgan Stanley | USD | 5.93% (0.600% + US Federal Funds Effective Rate INDEX) | ||||||||||
Kazatomprom | Monthly | 12/17/2025 | 3,212 | 130,086 | - | (909) | ||||||
Morgan Stanley | Lancashire Holdings Ltd. | GBP | 5.79% (0.600% + Sterling Overnight Index Average) | Monthly | 4/29/2025 | 10,652 | 64,658 | - | 109 | |||
Morgan Stanley | Weiss – MSGWIND Basket | GBP | 5.83% (0.500% + US Federal Funds Effective Rate INDEX) | |||||||||
Monthly | 4/29/2025 | 8,398 | 991,720 | - | 24,969 | |||||||
Morgan Stanley | Weiss – MSGWLCT Basket | USD | 5.68% (0.350% + US Federal Funds Effective Rate INDEX) | |||||||||
Monthly | 4/29/2025 | 2,061 | 273,495 | - | 5,623 | |||||||
Morgan Stanley | Weiss – MSGWRAIL Basket | USD | 5.68% (0.350% + US Federal Funds Effective Rate INDEX) | |||||||||
Monthly | 4/29/2025 | 2,420 | 255,504 | - | 4,887 | |||||||
Morgan Stanley | Weiss – MSGWTRN4 Basket | USD | 5.68% (0.350% + US Federal Funds Effective Rate INDEX) | |||||||||
Monthly | 11/10/2025 | 546 | 72,678 | - | (964) | |||||||
Morgan Stanley | Weiss – MSXXONSH Basket | USD | 5.680% (0.350% + US Federal Funds Effective Rate INDEX) | |||||||||
Monthly | 4/29/2025 | 730 | 79,271 | - | (1,650) | |||||||
Morgan Stanley | Renault | EUR | 4.59% (0.600% + Euro Overnight Index Average) | Monthly | 4/29/2025 | 5,704 | 198,770 | - | (8,861) | |||
Morgan Stanley | Sartorius Stedim | EUR | 4.59% (0.600% + Euro Overnight Index Average) | Monthly | 4/29/2025 | 531 | 132,387 | - | 10,875 | |||
Morgan Stanley | Sector-Neutral Dividend Yield Basket | GBP | ||||||||||
0.80% Fixed Rate | Monthly | 4/29/2025 | 69,237 | 5,426,104(a) | - | (263,784) | ||||||
Morgan Stanley | U.S. 3 Month Momentum Basket | USD | 1.200% Fixed Rate | Monthly | 4/29/2025 | 1,841 | 146,525 | - | (2,938) | |||
Morgan Stanley | U.S Quality Basket | GBP | 0.950% Fixed Rate | Monthly | 4/29/2025 | 2,740 | 192,321 | - | 7,539 | |||
Morgan Stanley | U.S. Sector-Neutral Quality Basket | GBP | 0.850% Fixed Rate | Monthly | 4/29/2025 | 2,008 | 158,311 | - | 1,325 | |||
Morgan Stanley | Vivendi | GBP | 4.59% (0.600% + Euro Overnight Index Average) | Monthly | 4/29/2025 | 11,427 | 119,161 | - | 5,804 | |||
Morgan Stanley | Weiss - MSGWARO2 Basket | GBP | 5.83% (0.500% + US Federal Funds Effective Rate INDEX) | |||||||||
Monthly | 4/29/2025 | 2,037 | 262,060 | - | 13,026 |
Paid by the Fund | Received by the Fund | |||||||||||
Counterparty | Financing Rate/Security | Currency | Financing Rate/Security | Payment Frequency | Maturity Date | Number of Shares/Units | Notional Amount | Upfront Payments | Value of Unrealized Appreciation (Depreciation) |
SHORT EQUITY SWAP CONTRACTS | ||||||||||||
Morgan Stanley | 4.69% ((0.500)% + Sterling Overnight Index Average) | GBP | Abrdn PLC | Monthly | 4/29/2025 | (16,698) | (28,031) | - | 326 | |||
Morgan Stanley | 4.69% ((0.500)% + Sterling Overnight Index Average) | GBP | Antofagasta PLC | Monthly | 4/29/2025 | (16,888) | (290,443) | - | (50,685) | |||
Morgan Stanley | 4.69% ((0.500)% + Sterling Overnight Index Average) | GBP | Astrazeneca PLC | Monthly | 4/29/2025 | (1,137) | (118,946) | - | (2,312) | |||
Morgan Stanley | 3.34% ((0.650)% + Euro Overnight Index Average) | GBP | Banco Santander S.A. | Monthly | 4/29/2025 | (7,207) | (26,802) | - | (456) | |||
Morgan Stanley | 5.08% ((0.250)% + US Federal Funds Effective Rate INDEX) | USD | Casual Dining MSGWCASD Basket | Monthly | 8/13/2025 | (1,841) | (181,449) | - | (23,466) | |||
Morgan Stanley | 4.69% ((0.500)% + Sterling Overnight Index Average) | GBP | Glencore PLC | Monthly | 7/2/2025 | (10,427) | (43,533) | - | 5,384 | |||
Morgan Stanley | 5.08% ((0.250)% + US Federal Funds Effective Rate INDEX) | GBP | Growth Software Basket | Monthly | 4/29/2025 | (4,007) | (877,092) | - | (33,307) | |||
Morgan Stanley | (0.850)% Fixed Rate | GBP | Growth vs Value Basket | Monthly | 4/29/2025 | (1,206) | (151,630) | - | 1,246 | |||
Morgan Stanley | 4.69% ((0.500)% + Sterling Overnight Index Average) | GBP | Intercontinental Hotels Group | Monthly | 4/29/2025 | (4,887) | (365,390) | - | (25,022) | |||
Morgan Stanley | 4.56% ((0.630)% + Sterling Overnight Index Average) | GBP | iShares PLC - iShares Core FTSE 100 UCIT | Monthly | 6/3/2025 | (12,325) | (91,282) | - | 722 | |||
Morgan Stanley | 2.99% ((1.000)% + Euro Overnight Index Average) | GBP | Lyxor CAC 40 (DR) UCITS ETF | Monthly | 4/29/2025 | (542) | (40,786) | - | (1,584) | |||
Morgan Stanley | 4.56% ((0.770)% + US Federal Funds Effective Rate INDEX) | USD | Marketing Clean Energy Basket | Monthly | 4/29/2025 | (147) | (10,021) | - | (16) | |||
Morgan Stanley | 4.83% ((0.500)% + US Federal Funds Effective Rate INDEX) | GBP | MS Crowd Basket | Monthly | 4/29/2025 | (960) | (146,496) | - | (6,298) | |||
Morgan Stanley | 4.98% ((0.350)% + US Federal Funds Effective Rate INDEX) | USD | MS Leisure Travel Basket | Monthly | 4/29/2025 | (8,197) | (623,464) | - | (44,574) | |||
Morgan Stanley | 5.03% ((0.300)% + US Federal Funds Effective Rate INDEX) | GBP | MS Technology Hardware Basket | Monthly | 4/29/2025 | (2,894) | (195,808) | - | - | (27,088) | ||
Morgan Stanley | 5.08% ((0.250)% + US Federal Funds Effective Rate INDEX) | GBP | MSGWREIT Basket | Monthly | 4/29/2025 | (812) | (87,664) | - | (4,515) |
Morgan Stanley | 5.08% ((0.250)% + US Federal Funds Effective Rate INDEX) | USD | MSGWTARF Basket | Monthly | 4/29/2025 | (731) | (70,987) | - | 1,580 | ||||
Morgan Stanley | 4.93% ((0.400)% + US Federal Funds Effective Rate INDEX) | USD | MSXXAIB Basket | Monthly | 9/4/2025 | (204) | (32,324) | - | (6,221) | ||||
Morgan Stanley | 4.95% ((0.380)% + US Federal Funds Effective Rate INDEX) | GBP | MSXXCCC Basket | Monthly | 4/29/2025 | (3,651) | (388,576) | - | (7,995) | ||||
Morgan Stanley | 3.34% ((0.650)% + Euro Overnight Index Average) | EUR | OUTOKUMPU OYJ | Monthly | 11/24/2025 | (1,840) | (7,268) | - | (203) | ||||
Morgan Stanley | 4.81% ((0.520)% + US Federal Funds Effective Rate INDEX) | USD | Unprofitable Tech Co. Basket | Monthly | 4/29/2025 | (13,661) | (606,958) | - | 15,707 | ||||
Morgan Stanley | (0.81)% Fixed Rate | USD | U.S. 3 Month Momentum Basket | Monthly | 9/9/2025 | (794) | (63,194) | - | 8,419 | ||||
Morgan Stanley | (0.90)% Fixed Rate | USD | U.S. Momentum Basket | Monthly | 4/29/2025 | (374) | (45,767) | - | (909) | ||||
Morgan Stanley | 4.88% ((0.450)% + US Federal Funds Effective Rate INDEX) | GBP | Weiss - Infotech Basket | Monthly | 4/29/2025 | (4,554) | (834,748) | - | (14,375) | ||||
Morgan Stanley | 4.98% ((0.350)% + US Federal Funds Effective Rate INDEX) | USD | Weiss – MSGWAERO Basket | Monthly | 4/29/2025 | (2,468) | (238,236) | - | - | (22,687) | |||
Morgan Stanley | 5.08% ((0.250)% + US Federal Funds Effective Rate INDEX) | USD | Weiss – MSGWAIR Basket | Monthly | 4/29/2025 | (184) | (15,830) | - | (1,273) | ||||
Morgan Stanley | 4.98% ((0.350)% + US Federal Funds Effective Rate INDEX) | GBP | Weiss – MSGWDEF Basket | Monthly | 4/29/2025 | (1,989) | (186,330) | - | (1,574) | ||||
Morgan Stanley | 5.08% ((0.250)% + US Federal Funds Effective Rate INDEX) | GBP | Weiss – MSGWOFRE Basket | Monthly | 4/29/2025 | (40) | (3,672) | - | - | (178) | |||
$ | 1,198,578 |
EUR – Euro GBP – British Pound Sterling PLC – Public Limited Co. USD – U.S. Dollar * Based on the net swap value held at each counterparty, unrealized appreciation is a receivable and unrealized depreciation is a payable. |
(a) The components of the Sector-Neutral Dividend Yield Basket basket are shown below. The fifty largest | ||||||||||||
components of each leg of the basket as of January 31, 2024, are shown below. | ||||||||||||
Shares | Value | % of basket | ||||||||||
Common Stocks | ||||||||||||
Banks | ||||||||||||
Citigroup, Inc. | 523 | $ | 29,375 | 0.54 | % | |||||||
Citizens Financial Group, Inc. | 878 | 28,721 | 0.53 | % | ||||||||
Fifth Third Bancorp | 842 | 28,836 | 0.53 | % | ||||||||
First Horizon Corp. | 1,891 | 26,933 | 0.50 | % | ||||||||
Huntington Bancshares, Inc. | 2,150 | 27,365 | 0.50 | % | ||||||||
KeyCorp | 1,923 | 27,945 | 0.52 | % | ||||||||
PNC Financial Services Group, Inc. | 181 | 27,329 | 0.50 | % | ||||||||
Regions Financial Corp. | 1,453 | 27,122 | 0.50 | % | ||||||||
Truist Financial Corp. | 745 | 27,597 | 0.51 | % | ||||||||
US Bancorp | 633 | 26,300 | 0.48 | % | ||||||||
277,523 | ||||||||||||
Biotechnology | ||||||||||||
AbbVie, Inc. | 367 | 60,253 | 1.11 | % | ||||||||
Amgen, Inc. | 155 | 48,605 | 0.90 | % | ||||||||
Gilead Sciences, Inc. | 460 | 35,966 | 0.66 | % | ||||||||
144,824 | ||||||||||||
Capital Markets | ||||||||||||
T Rowe Price Group, Inc. | 241 | 26,167 | 0.48 | % | ||||||||
Communications Equipment | ||||||||||||
Cisco Systems, Inc. | 2,027 | 101,725 | 1.87 | % | ||||||||
Juniper Networks, Inc. | 781 | 28,876 | 0.53 | % | ||||||||
Motorola Solutions, Inc. | 209 | 66,871 | 1.23 | % | ||||||||
197,472 | ||||||||||||
Diversified Telecommunication Services | ||||||||||||
AT&T, Inc. | 5,053 | 89,395 | 1.65 | % | ||||||||
Verizon Communications Inc | 2,181 | 92,383 | 1.70 | % | ||||||||
181,778 | ||||||||||||
Electronic Equipment, Instruments & Components | ||||||||||||
Corning, Inc. | 953 | 30,970 | 0.57 | % | ||||||||
Financial Services | ||||||||||||
Corebridge Financial, Inc. | 1,148 | 27,735 | 0.51 | % | ||||||||
Health Care Equipment & Supplies | ||||||||||||
Abbott Laboratories | 389 | 44,003 | 0.81 | % | ||||||||
Becton Dickinson & Co. | 134 | 32,007 | 0.59 | % | ||||||||
Medtronic PLC | 487 | 42,605 | 0.79 | % | ||||||||
118,615 | ||||||||||||
Health Care Providers & Services | ||||||||||||
Cigna Group | 141 | 42,382 | 0.78 | % | ||||||||
CVS Health Corp. | 446 | 33,178 | 0.61 | % | ||||||||
UnitedHealth Group, Inc. | 95 | 48,560 | 0.89 | % | ||||||||
124,120 | ||||||||||||
IT Services | ||||||||||||
Accenture PLC | 292 | 106,332 | 1.96 | % | ||||||||
Cognizant Technology Solutions Corp. | 868 | 66,966 | 1.23 | % | ||||||||
International Business Machines Corp. | 623 | 114,378 | 2.11 | % | ||||||||
287,676 | ||||||||||||
Media | ||||||||||||
Comcast Corp. | 1,979 | 92,086 | 1.70 | % | ||||||||
Interpublic Group of Cos., Inc. | 1,493 | 49,247 | 0.91 | % | ||||||||
Nexstar Media Group, Inc. | 192 | 34,034 | 0.63 | % | ||||||||
175,367 | ||||||||||||
Pharmaceuticals | ||||||||||||
Bristol-Myers Squibb Co. | 1,009 | 49,330 | 0.91 | % | ||||||||
Johnson & Johnson | 334 | 53,031 | 0.98 | % | ||||||||
Merck & Co., Inc. | 496 | 59,915 | 1.10 | % | ||||||||
Omnicom Group, Inc. | 561 | 50,734 | 0.94 | % | ||||||||
Pfizer, Inc. | 1,688 | 45,702 | 0.84 | % | ||||||||
258,712 | ||||||||||||
Semiconductors & Semiconductor Equipment | ||||||||||||
Analog Devices, Inc. | 533 | 102,552 | 1.89 | % | ||||||||
Broadcom, Inc. | 104 | 122,170 | 2.25 | % | ||||||||
Microchip Technology, Inc. | 1,174 | 99,990 | 1.84 | % | ||||||||
QUALCOMM, Inc. | 762 | 113,095 | 2.08 | % | ||||||||
Skyworks Solutions, Inc. | 576 | 60,143 | 1.11 | % | ||||||||
Texas Instruments, Inc. | 636 | 101,807 | 1.88 | % | ||||||||
599,757 | ||||||||||||
Software | ||||||||||||
Gen Digital, Inc. | 1,527 | 35,846 | 0.66 | % | ||||||||
Oracle Corp. | 838 | 93,627 | 1.73 | % | ||||||||
129,473 | ||||||||||||
Technology Hardware, Storage & Periperals | ||||||||||||
Hewlett Packard Enterprise Co. | 2,611 | 39,929 | 0.74 | % | ||||||||
HP, Inc. | 2,191 | 62,917 | 1.16 | % | ||||||||
NetApp, Inc. | 465 | 40,534 | 0.75 | % | ||||||||
143,380 | ||||||||||||
Shares | Value | % of basket | ||||||||||
Short Common Stocks | ||||||||||||
Capital Markets | ||||||||||||
Charles Schwab Corp. | (400 | ) | $ | (25,149 | ) | 0.46 | % | |||||
Intercontinental Exchange, Inc. | (211 | ) | (26,921 | ) | 0.50 | % | ||||||
KKR & Co., Inc. | (319 | ) | (27,600 | ) | 0.51 | % | ||||||
Moody's Corp. | (66 | ) | (25,811 | ) | 0.48 | % | ||||||
MSCI, Inc. | (42 | ) | (25,286 | ) | 0.47 | % | ||||||
S&P Global, Inc. | (57 | ) | (25,763 | ) | 0.47 | % | ||||||
(156,530 | ) | |||||||||||
Consumer Finance | (142 | ) | (28,566 | ) | 0.53 | % | ||||||
American Express Co. | ||||||||||||
Consumer Staples Distribution & Retail | ||||||||||||
Costco Wholesale Corp. | (40 | ) | (27,714 | ) | 0.51 | % | ||||||
Electronic Equipment, Instruments & Components | ||||||||||||
Amphenol Corp. | (584 | ) | (59,087 | ) | 1.09 | % | ||||||
Jabil, Inc. | (415 | ) | (51,969 | ) | 0.96 | % | ||||||
(111,056 | ) | |||||||||||
Entertainment | ||||||||||||
Electronic Arts, Inc. | (597 | ) | (82,187 | ) | 1.51 | % | ||||||
TKO Group Holdings, Inc. | (596 | ) | (49,899 | ) | 0.92 | % | ||||||
(132,086 | ) | |||||||||||
Financial Services | ||||||||||||
Global Payments, Inc. | (205 | ) | (27,280 | ) | 0.50 | % | ||||||
Mastercard, Inc. | (58 | ) | (26,117 | ) | 0.48 | % | ||||||
Visa, Inc. | (94 | ) | (25,609 | ) | 0.47 | % | ||||||
(79,006 | ) | |||||||||||
Food Products | ||||||||||||
Mondelez International, Inc. | (333 | ) | (25,053 | ) | 0.46 | % | ||||||
Health Care Equipment & Supplies | ||||||||||||
Stryker Corp. | (157 | ) | (52,526 | ) | 0.97 | % | ||||||
Teradyne, Inc. | (401 | ) | (38,755 | ) | 0.71 | % | ||||||
Zimmer Biomet Holdings Inc. | (213 | ) | (26,731 | ) | 0.49 | % | ||||||
(118,012 | ) | |||||||||||
Health Care Providers & Services | ||||||||||||
Elevance Health, Inc. | (101 | ) | (49,806 | ) | 0.92 | % | ||||||
HCA Healthcare, Inc. | (164 | ) | (50,072 | ) | 0.92 | % | ||||||
Humana, Inc. | (105 | ) | (39,618 | ) | 0.73 | % | ||||||
McKesson Corp. | (89 | ) | (44,316 | ) | 0.82 | % | ||||||
(183,812 | ) | |||||||||||
Household Products | ||||||||||||
Colgate-Palmolive Co. | (297 | ) | (24,993 | ) | 0.46 | % | ||||||
Insurance | ||||||||||||
Chubb Ltd. | (106 | ) | (25,934 | ) | 0.48 | % | ||||||
Progressive Corp. | (146 | ) | (26,055 | ) | 0.48 | % | ||||||
(51,989 | ) | |||||||||||
Life Sciences Tools & Services | ||||||||||||
Agilent Technologies, Inc. | (241 | ) | (31,290 | ) | 0.58 | % | ||||||
Thermo Fisher Scientific, Inc | (103 | ) | (55,277 | ) | 1.02 | % | ||||||
(86,567 | ) | |||||||||||
Media | ||||||||||||
Fox Corp. | (1,571 | ) | (50,752 | ) | 0.94 | % | ||||||
News Corp. | (1,117 | ) | (27,529 | ) | 0.51 | % | ||||||
Paramount Global | (5,446 | ) | (79,451 | ) | 1.46 | % | ||||||
(157,732 | ) | |||||||||||
Pharmaceuticals | ||||||||||||
Cencora, Inc. | (175 | ) | (40,732 | ) | 0.75 | % | ||||||
Danaher Corp. | (227 | ) | (54,504 | ) | 1.00 | % | ||||||
Eli Lilly & Co. | (85 | ) | (55,144 | ) | 1.02 | % | ||||||
Zoetis, Inc. | (218 | ) | (40,999 | ) | 0.76 | % | ||||||
(191,379 | ) | |||||||||||
Semiconductors & Semiconductor Equipment | ||||||||||||
Applied Materials, Inc. | (649 | ) | (106,703 | ) | 1.97 | % | ||||||
Entegris, Inc. | (356 | ) | (41,843 | ) | 0.77 | % | ||||||
Intel Corp. | (2,158 | ) | (92,985 | ) | 1.71 | % | ||||||
KLA Corp. | (178 | ) | (105,909 | ) | 1.95 | % | ||||||
Lam Research Corp. | (136 | ) | (112,104 | ) | 2.07 | % | ||||||
Marvell Technology, Inc. | (1,729 | ) | (117,057 | ) | 2.16 | % | ||||||
Micron Technology, Inc. | (1,265 | ) | (108,459 | ) | 2.00 | % | ||||||
Monolithic Power Systems, Inc. | (122 | ) | (73,460 | ) | 1.35 | % | ||||||
NVIDIA Corp. | (201 | ) | (123,974 | ) | 2.28 | % | ||||||
(882,495 | ) | |||||||||||
Software | ||||||||||||
Intuit, Inc. | (168 | ) | (106,091 | ) | 1.96 | % | ||||||
Microsoft Corp. | (256 | ) | (101,796 | ) | 1.88 | % | ||||||
Roper Technologies, Inc. | (118 | ) | (63,420 | ) | 1.17 | % | ||||||
(271,307 | ) | |||||||||||
Technology Hardware, Storage & Periperals | ||||||||||||
Apple, Inc. | (512 | ) | (94,454 | ) | 1.74 | % | ||||||
Wireless Communications | ||||||||||||
T-Mobile US, Inc. | (548 | ) | (88,432 | ) | 1.63 | % |
INVESTMENT VALUATION
The following is a summary of the Fund’s pricing procedures. It is intended to be a general discussion and may not necessarily reflect all the pricing procedures followed by the Fund.
Equity securities, including common stocks, preferred stocks, and real estate investment trusts (“REITS”) that are traded on a national securities exchange, except those listed on the Nasdaq Global Market®, Nasdaq Global Select Market® and the Nasdaq Capital Market® exchanges (collectively “Nasdaq”), are valued at the last reported sale price on that exchange on which the security is principally traded. Securities traded on Nasdaq will be valued at the Nasdaq Official Closing Price (“NOCP”). If, on a particular day, an exchange traded or Nasdaq security does not trade, then the mean between the most recent quoted bid and asked prices will be used. All equity securities that are not traded on a listed exchange are valued at the last sale price in the over-the-counter (“OTC”) market. If a non-exchanged traded equity security does not trade on a particular day, then the mean between the last quoted closing bid and asked price will be used. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy.
In the case of foreign securities, the occurrence of events after the close of foreign markets, but prior to the time the Fund’s NAV is calculated will result in an adjustment to the trading prices of foreign securities when foreign markets open on the following business day. The Fund will value foreign securities at fair value, taking into account such events in calculating the NAV. In such cases, use of fair valuation can reduce an investor’s ability to seek profit by estimating the Fund’s NAV in advance of the time the NAV is calculated. These securities are categorized in Level 2 of the fair value hierarchy.
Exchange traded funds and closed-end funds are valued at the last reported sale price on the exchange on which the security is principally traded. If, on a particular day, an exchange-traded fund does not trade, then the mean between the most recent quoted bid and asked prices will be used. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy.
Investments in registered open-end investment companies (including money market funds), other than exchange-traded funds, are typically valued at their reported NAV per share. To the extent these securities are valued at their NAV per share, they are categorized in Level 1 of the fair value hierarchy.
Exchange traded options and Flexible Exchange® options (“FLEX options”) are valued at the composite mean price, which calculates the mean of the highest bid price and lowest ask price across the exchanges where the option is principally traded. If the composite mean price is not available, the last sale or settlement price maybe be used. For non-exchange traded options, models such as Black-Scholes can be used to value the options. On the last trading day prior to expiration, expiring options may be priced at intrinsic value. These securities are categorized in Level 2 of the fair value hierarchy.
Futures contracts are valued at the settlement price on the exchange on which they are principally traded. The settlement price is the average of the prices at which a futures contract trades immediately before the close of trading for the day. Equity swap contract prices are determined by using the same methods used to price the underlying security. These securities are categorized in Level 1 or Level 2 of the fair value hierarchy.
The Board of Trustees (the "Board”) has adopted a pricing and valuation policy for use by the Fund and its Valuation Designee (as defined below) in calculating the Fund’s NAV. Pursuant to Rule 2a-5 under the 1940 Act, the Fund has designated the Adviser as its “Valuation Designee” to perform all of the fair value determinations as well as to perform all of the responsibilities that may be performed by the Valuation Designee in accordance with Rule 2a-5. The Valuation Designee is authorized to make all necessary determinations of the fair values of the portfolio securities and other assets for which market quotations are not readily available or if it is deemed that the prices obtained from brokers and dealers or independent pricing services are unreliable.
The Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion in changes in valuation techniques and related inputs during the period and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below:
Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
Level 2 – Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
Level 3 – Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
The following table is a summary of the inputs used to value the Fund’s securities by level within the fair value hierarchy as of January 31, 2024:
Weiss Alternative Multi-Strategy Fund | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Investments at Fair Value | |||||||||||||||||
Assets | |||||||||||||||||
Common Stocks | |||||||||||||||||
Aerospace & Defense | $ | 1,084,765 | $ | – | $ | – | $ | 1,084,765 | |||||||||
Air Freight & Logistics | 691,182 | 203,778 | – | 894,960 | |||||||||||||
Automobile Components | 240,084 | – | – | 240,084 | |||||||||||||
Automobiles | 838,274 | – | – | 838,274 | |||||||||||||
Banks | 5,227,828 | 187,908 | – | 5,415,736 | |||||||||||||
Beverages | 4,039,863 | – | – | 4,039,863 | |||||||||||||
Biotechnology | 3,319,717 | 38,345 | – | 3,358,062 | |||||||||||||
Broadline Retail | 2,001,003 | – | – | 2,001,003 | |||||||||||||
Building Products | 578,767 | – | – | 578,767 | |||||||||||||
Capital Markets | 5,704,177 | 95,006 | – | 5,799,183 | |||||||||||||
Chemicals | 811,468 | – | – | 811,468 | |||||||||||||
Commercial Services & Supplies | 127,074 | – | – | 127,074 | |||||||||||||
Communications Equipment | 1,339,171 | – | – | 1,339,171 | |||||||||||||
Construction & Engineering | 462,215 | – | – | 462,215 | |||||||||||||
Construction Materials | 199,958 | – | – | 199,958 | |||||||||||||
Consumer Finance | 617,743 | – | – | 617,743 | |||||||||||||
Consumer Staples Distribution & Retail | 2,522,441 | – | – | 2,522,441 | |||||||||||||
Distributors | 210,488 | – | – | 210,488 | |||||||||||||
Diversified Consumer Services | 99,888 | – | – | 99,888 | |||||||||||||
Diversified REITs | 948,299 | – | – | 948,299 | |||||||||||||
Electrical Equipment | 1,943,200 | – | – | 1,943,200 | |||||||||||||
Electronic Equipment, Instruments & Components | 860,550 | – | – | 860,550 | |||||||||||||
Energy Equipment & Services | 4,323,311 | – | – | 4,323,311 | |||||||||||||
Entertainment | 1,349,183 | – | – | 1,349,183 | |||||||||||||
Financial Services | 2,341,268 | 44,332 | – | 2,385,600 | |||||||||||||
Food Products | 3,029,834 | – | – | 3,029,834 | |||||||||||||
Ground Transportation | 4,121,853 | – | – | 4,121,853 | |||||||||||||
Health Care Equipment & Supplies | 2,670,182 | – | – | 2,670,182 | |||||||||||||
Health Care Providers & Services | 1,283,055 | – | – | 1,283,055 | |||||||||||||
Health Care REITs | 2,860,287 | – | – | 2,860,287 | |||||||||||||
Health Care Technology | 733,896 | – | – | 733,896 | |||||||||||||
Hotel & Resort REITs | 194,583 | – | – | 194,583 | |||||||||||||
Hotels, Restaurants & Leisure | 9,922,163 | – | – | 9,922,163 | |||||||||||||
Household Durables | 542,963 | – | – | 542,963 | |||||||||||||
Household Products | 3,014,363 | – | – | 3,014,363 | |||||||||||||
Industrial Conglomerates | 206,785 | – | – | 206,785 | |||||||||||||
Industrial REITs | 9,603,333 | – | – | 9,603,333 | |||||||||||||
Insurance | 2,052,313 | 61,358 | – | 2,113,671 | |||||||||||||
Interactive Media & Services | 421,670 | – | – | 421,670 | |||||||||||||
IT Services | 713,759 | – | – | 713,759 | |||||||||||||
Leisure Products | – | – | 202 | (1) | 202 | ||||||||||||
Life Sciences Tools & Services | 1,835,767 | 193,548 | – | 2,029,315 | |||||||||||||
Machinery | 2,045,007 | – | – | 2,045,007 | |||||||||||||
Marine Transportation | 112,956 | 7,375 | – | 120,331 | |||||||||||||
Media | 1,595,725 | – | – | 1,595,725 | |||||||||||||
Metals & Mining | 6,026,581 | 341,195 | 41,676 | (1) | 6,409,452 | ||||||||||||
Mortgage Real Estate Investment Trusts (REITs) | 461,654 | – | – | 461,654 | |||||||||||||
Office REITs | 8,953,871 | – | – | 8,953,871 | |||||||||||||
Oil, Gas & Consumable Fuels | 4,740,351 | – | – | 4,740,351 | |||||||||||||
Paper & Forest Products | 89,300 | – | – | 89,300 | |||||||||||||
Passenger Airlines | 216,092 | – | – | 216,092 | |||||||||||||
Personal Care Products | 273,514 | 75,705 | – | 349,219 | |||||||||||||
Pharmaceuticals | 2,542,407 | 280,545 | – | 2,822,952 | |||||||||||||
Professional Services | 700,715 | – | – | 700,715 | |||||||||||||
Real Estate Management & Development | 261,107 | – | – | 261,107 | |||||||||||||
Residential REITs | 421,895 | – | – | 421,895 | |||||||||||||
Retail REITs | 6,502,456 | – | – | 6,502,456 | |||||||||||||
Semiconductors & Semiconductor Equipment | 2,068,671 | 294,978 | – | 2,363,649 | |||||||||||||
Software | 4,805,009 | – | – | 4,805,009 | |||||||||||||
Specialized REITs | 6,307,002 | – | – | 6,307,002 | |||||||||||||
Specialty Retail | 1,799,670 | – | – | 1,799,670 | |||||||||||||
Technology Hardware, Storage & Peripherals | 912,415 | – | – | 912,415 | |||||||||||||
Textiles, Apparel & Luxury Goods | 1,138,262 | – | – | 1,138,262 | |||||||||||||
Trading Companies & Distributors | 1,937,976 | – | – | 1,937,976 | |||||||||||||
Wireless Telecommunication Services | 12,356 | – | 2,494 | (1) | 14,850 | ||||||||||||
Total Common Stocks | 139,013,805 | 1,824,073 | 44,372 | 140,882,250 | |||||||||||||
Contingent Value Rights | – | – | – | (1)(2) | – | ||||||||||||
Exchange Traded Funds(3) | 21,482,087 | – | – | 21,482,087 | |||||||||||||
Purchased Options | 25,929 | 215,251 | – | 241,180 | |||||||||||||
Preferred Stocks | 187,796 | – | – | 187,796 | |||||||||||||
Money Market Fund | 8,831,259 | – | – | 8,831,259 | |||||||||||||
$ | 169,540,876 | $ | 2,039,324 | $ | 44,372 | $ | 171,624,572 | ||||||||||
Other Instruments | |||||||||||||||||
Futures Contracts | $ | – | $ | 2,348,464 | $ | – | $ | 2,348,464 | |||||||||
Swap Contracts | – | 1,198,578 | – | 1,198,578 | |||||||||||||
$ | – | $ | 3,547,042 | $ | – | $ | 3,547,042 | ||||||||||
Liabilities | |||||||||||||||||
Common Stocks | |||||||||||||||||
Aerospace & Defense | $ | (460,496 | ) | $ | – | $ | – | $ | (460,496 | ) | |||||||
Air Freight & Logistics | (836,464 | ) | – | – | (836,464 | ) | |||||||||||
Automobiles | (642,246 | ) | (94,168 | ) | – | (736,414 | ) | ||||||||||
Banks | (3,954,622 | ) | (59,178 | ) | – | (4,013,800 | ) | ||||||||||
Beverages | (2,369,412 | ) | – | – | (2,369,412 | ) | |||||||||||
Biotechnology | (1,126,560 | ) | – | – | (1,126,560 | ) | |||||||||||
Broadline Retail | (786,535 | ) | – | – | (786,535 | ) | |||||||||||
Building Products | (418,277 | ) | – | – | (418,277 | ) | |||||||||||
Capital Markets | (5,346,397 | ) | – | – | (5,346,397 | ) | |||||||||||
Chemicals | (1,951,087 | ) | – | – | (1,951,087 | ) | |||||||||||
Commercial Services & Supplies | (147,411 | ) | – | – | (147,411 | ) | |||||||||||
Communications Equipment | (674,254 | ) | – | – | (674,254 | ) | |||||||||||
Construction & Engineering | (1,254,636 | ) | – | – | (1,254,636 | ) | |||||||||||
Construction Materials | (70,082 | ) | – | – | (70,082 | ) | |||||||||||
Consumer Finance | (1,359,718 | ) | – | – | (1,359,718 | ) | |||||||||||
Consumer Staples Distribution & Retail | (1,354,223 | ) | – | – | (1,354,223 | ) | |||||||||||
Containers & Packaging | (23,735 | ) | – | – | (23,735 | ) | |||||||||||
Electrical Equipment | (329,118 | ) | (472,548 | ) | – | (801,666 | ) | ||||||||||
Electronic Equipment, Instruments & Components | (45,078 | ) | – | – | (45,078 | ) | |||||||||||
Energy Equipment & Services | (940,055 | ) | – | – | (940,055 | ) | |||||||||||
Entertainment | (200,484 | ) | – | – | (200,484 | ) | |||||||||||
Financial Services | (397,113 | ) | – | – | (397,113 | ) | |||||||||||
Food Products | (2,075,321 | ) | (74,524 | ) | – | (2,149,845 | ) | ||||||||||
Ground Transportation | (2,843,154 | ) | – | – | (2,843,154 | ) | |||||||||||
Health Care Equipment & Supplies | (944,851 | ) | – | – | (944,851 | ) | |||||||||||
Health Care Providers & Services | (1,599,810 | ) | (100,836 | ) | – | (1,700,646 | ) | ||||||||||
Health Care REITs | (269,932 | ) | – | – | (269,932 | ) | |||||||||||
Health Care Technology | (324,452 | ) | – | – | (324,452 | ) | |||||||||||
Hotel & Resort REITs | (492,683 | ) | – | – | (492,683 | ) | |||||||||||
Hotels, Restaurants & Leisure | (6,572,105 | ) | (90,609 | ) | – | (6,662,714 | ) | ||||||||||
Household Durables | (345,459 | ) | – | – | (345,459 | ) | |||||||||||
Household Products | (912,139 | ) | – | – | (912,139 | ) | |||||||||||
Industrial Conglomerates | (69,530 | ) | – | – | (69,530 | ) | |||||||||||
Industrial REITs | (7,098,505 | ) | – | – | (7,098,505 | ) | |||||||||||
Insurance | (1,286,452 | ) | (358,770 | ) | – | (1,645,222 | ) | ||||||||||
Interactive Media & Services | (244,227 | ) | – | – | (244,227 | ) | |||||||||||
IT Services | (784,165 | ) | – | – | (784,165 | ) | |||||||||||
Leisure Products | (264,510 | ) | – | – | (264,510 | ) | |||||||||||
Life Sciences Tools & Services | (1,481,725 | ) | (32,047 | ) | – | (1,513,772 | ) | ||||||||||
Machinery | (2,765,176 | ) | – | – | (2,765,176 | ) | |||||||||||
Media | (1,359,393 | ) | – | – | (1,359,393 | ) | |||||||||||
Metals & Mining | (2,558,429 | ) | (885,144 | ) | – | (3,443,573 | ) | ||||||||||
Mortgage Real Estate Investment Trusts (REITs) | (207,087 | ) | – | – | (207,087 | ) | |||||||||||
Office REITs | (5,676,054 | ) | – | – | (5,676,054 | ) | |||||||||||
Oil, Gas & Consumable Fuels | (4,388,593 | ) | – | – | (4,388,593 | ) | |||||||||||
Paper & Forest Products | (97,296 | ) | – | – | (97,296 | ) | |||||||||||
Passenger Airlines | (161,619 | ) | – | – | (161,619 | ) | |||||||||||
Personal Care Products | (211,944 | ) | – | – | (211,944 | ) | |||||||||||
Pharmaceuticals | (1,628,397 | ) | (505,902 | ) | – | (2,134,299 | ) | ||||||||||
Professional Services | (745,724 | ) | – | – | (745,724 | ) | |||||||||||
Residential REITs | (1,142,420 | ) | – | – | (1,142,420 | ) | |||||||||||
Retail REITs | (6,501,045 | ) | – | – | (6,501,045 | ) | |||||||||||
Semiconductors & Semiconductor Equipment | (1,547,957 | ) | (244,802 | ) | – | (1,792,759 | ) | ||||||||||
Software | (1,188,515 | ) | – | – | (1,188,515 | ) | |||||||||||
Specialized REITs | (9,467,261 | ) | – | – | (9,467,261 | ) | |||||||||||
Specialty Retail | (2,607,172 | ) | – | – | (2,607,172 | ) | |||||||||||
Technology Hardware, Storage & Peripherals | (1,185,469 | ) | – | – | (1,185,469 | ) | |||||||||||
Textiles, Apparel & Luxury Goods | (606,178 | ) | (145,933 | ) | – | (752,111 | ) | ||||||||||
Trading Companies & Distributors | (424,112 | ) | – | – | (424,112 | ) | |||||||||||
Total Common Stocks | (96,766,864 | ) | (3,064,461 | ) | – | (99,831,325 | ) | ||||||||||
Exchange Traded Funds(3) | (46,280,128 | ) | (67,688 | ) | – | (46,347,816 | ) | ||||||||||
Preferred Stocks | – | (192,980 | ) | – | (192,980 | ) | |||||||||||
$ | (143,046,992 | ) | $ | (3,325,129 | ) | $ | – | $ | (146,372,121 | ) | |||||||
Other Instruments | |||||||||||||||||
Written Options | $ | (9,063 | ) | $ | (58,815 | ) | $ | – | $ | (67,878 | ) | ||||||
Futures Contracts(4) | – | (558 | ) | – | (558 | ) | |||||||||||
$ | (9,063 | ) | $ | (59,376 | ) | $ | – | $ | (68,436 | ) |
(1) Management has deemed these Level 3 securities as immaterial and therefore no further disclosure is needed.
(2) Amount less than $0.50.
(3) See the Schedule of Investments for industry classifications.
(4) Swap contracts and future contracts are valued at the net unrealized appreciation (depreciation) on the instrument as presented on the Schedules of Open Swap and Open Futures contracts.
For the period ended January 31, 2024, there were no transfers into or out of Level 3 securities.