UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-03651
Touchstone Strategic Trust - June Funds
(Exact name of registrant as specified in charter)
303 Broadway, Suite 1100
Cincinnati, Ohio 45202-4203
(Address of principal executive offices) (Zip code)
E. Blake Moore, Jr.
303 Broadway, Suite 1100
Cincinnati, Ohio 45202-4203
(Name and address of agent for service)
Registrant's telephone number, including area code: 800-638-8194
Date of fiscal year end: June 30
Date of reporting period: June 30, 2023
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
(a) | The Report to Shareholders is attached herewith. |
Touchstone Strategic Trust |
Touchstone Balanced Fund |
Touchstone Core Municipal Bond Fund |
Touchstone International Equity Fund |
Touchstone International Growth Fund |
Touchstone Large Cap Focused Fund |
Touchstone Large Cap Fund |
Touchstone Large Company Growth Fund |
Touchstone Small Company Fund |
Touchstone Value Fund |
President
Touchstone Strategic Trust
Average Annual Total Returns** | |||
Touchstone Balanced Fund | 1 Year | 5 Years | 10 Years |
Class A | 8.11% | 7.43% | 7.81% |
Class C | 11.95% | 7.88% | 7.70% |
Class Y | 14.06% | 8.93% | 8.60% |
Class R6* | 14.23% | 8.84% | 8.43% |
60% S&P 500® Index and 40% Bloomberg U.S. Aggregate Bond Index | 11.24% | 7.94% | 8.45% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares and Class R6 shares based on the differences in sales loads and fees paid by shareholders in the different classes. The inception date of Class R6 shares was October 28, 2021. Class R6 shares performance information was calculated using the historical performance of Class A shares for the period prior to October 28, 2021. The returns have been restated for sales loads and fees applicable to Class R6 shares. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 5.26% of the NAV (or 5.00% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares and Class R6 shares are not subject to sales charges. |
Average Annual Total Returns** | |||
Touchstone Core Municipal Bond Fund | 1 Year | 5 Years | 10 Years |
Class A | -1.02% | 0.23% | 1.63% |
Class C | 0.54% | 0.45% | 1.52% |
Class Y* | 2.66% | 1.51% | 2.31% |
Institutional Class* | 2.73% | 1.55% | 2.34% |
Bloomberg Municipal Bond Index | 3.19% | 1.84% | 2.68% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares and Institutional Class shares based on the difference in sales loads and fees paid by shareholders in the different classes. The inception date of Class Y shares and Institutional Class shares was August 30, 2016. Class Y shares and Institutional Class shares performance information was calculated using the historical performance of Class A shares for the periods prior to August 30, 2016. The returns have been restated for sales loads and fees applicable to Class Y shares and Institutional Class shares. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 3.36% of the NAV (or 3.25% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares and Institutional Class shares are not subject to sales charges. |
Average Annual Total Returns** | |||
Touchstone International Equity Fund | 1 Year | 5 Years | 10 Years |
Class A | 11.14% | 2.52% | 4.92% |
Class C | 15.27% | 2.83% | 4.49% |
Class Y | 17.46% | 4.09% | 5.84% |
Institutional Class* | 17.54% | 4.20% | 5.89% |
MSCI EAFE Index | 18.77% | 4.39% | 5.41% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares and Institutional Class shares based on the differences in sales loads and fees paid by shareholders in the different classes. The inception date of |
Institutional Class shares was October 30, 2017. Institutional Class shares performance information was calculated using the historical performance of Class A shares for the period prior to October 30, 2017. The returns have been restated for sales loads and fees applicable to Institutional Class shares. | |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 5.26% of the NAV (or 5.00% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares and Institutional Class shares are not subject to sales charges. |
Average Annual Total Returns** | |||
Touchstone International Growth Fund | 1 Year | 5 Years | 10 Years |
Class A* | 3.33% | -0.99% | 6.48% |
Class C* | 6.95% | -0.54% | 6.32% |
Class Y* | 9.00% | 0.45% | 7.36% |
Institutional Class | 9.16% | 0.56% | 7.45% |
MSCI All Country World Ex USA Index | 12.72% | 3.52% | 4.75% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares and Institutional Class shares based on the differences in sales loads and fees paid by shareholders in the different classes. The inception date of Class A shares, Class C shares and Class Y shares was August 15, 2016. Class A shares, Class C shares and Class Y shares performance information was calculated using the historical performance of Institutional Class shares for periods prior to August 15, 2016. The returns have been restated for sales loads and fees applicable to Class A, Class C and Class Y shares. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 5.26% of the NAV (or 5.00% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares and Institutional Class shares are not subject to sales charges. |
Average Annual Total Returns** | |||
Touchstone Large Cap Focused Fund | 1 Year | 5 Years | 10 Years |
Class A | 15.23% | 11.77% | 12.21% |
Class C | 19.35% | 12.19% | 12.07% |
Class Y | 21.65% | 13.41% | 13.09% |
Institutional Class* | 21.68% | 13.44% | 13.10% |
Class R6* | 21.73% | 13.23% | 12.85% |
S&P 500® Index | 19.59% | 12.31% | 12.86% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares, Class R6 shares and Institutional Class shares based on the differences in sales loads and fees paid by shareholders in the different classes. The inception date of Class R6 shares and Institutional Class shares was October 28, 2021 and December 23, 2014, respectively. Class R6 shares and Institutional Class shares performance was calculated using the historical performance of Class A shares for the periods prior to October 28, 2021 and December 23, 2014, respectively. The returns have been restated for sales loads and fees applicable to Class R6 shares and Institutional Class shares. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 5.26% of the NAV (or 5.00% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares, Class R6 shares and Institutional Class shares are not subject to sales charges. |
Average Annual Total Returns** | |||
Touchstone Large Cap Fund | 1 Year | 5 Years | Since Inception* |
Class A | 10.16% | 7.16% | 7.46% |
Class C | 14.10% | 7.63% | 7.47% |
Class Y | 16.24% | 8.72% | 8.44% |
Institutional Class | 16.35% | 8.82% | 8.55% |
Russell 1000® Index | 19.36% | 11.92% | 11.29% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares and Institutional Class shares based on the differences in sales loads and fees paid by shareholders in the different classes. The inception date of the Fund was July 9, 2014. The returns of the index listed above are based on the inception date of the Fund. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 5.26% of the NAV (or 5.00% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares and Institutional Class shares are not subject to sales charges. |
Average Annual Total Returns** | |||
Touchstone Large Company Growth Fund | 1 Year | 5 Years | 10 Years |
Class A* | 11.05% | 9.00% | 12.22% |
Class C* | 15.01% | 9.46% | 12.04% |
Class Y* | 17.17% | 10.57% | 13.16% |
Institutional Class | 17.30% | 10.67% | 13.25% |
Russell 1000® Growth Index | 27.11% | 15.14% | 15.74% |
S&P 500® Index | 19.59% | 12.31% | 12.86% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares and Institutional Class shares based on the differences in sales loads and fees paid by shareholders in the different classes. The inception date of Class A shares, Class C shares and Class Y shares was August 15, 2016. Class A shares, Class C shares and Class Y shares performance information was calculated using the historical performance of Institutional Class shares for periods prior to August 15, 2016. The returns have been restated for sales loads and fees applicable to Class A, Class C and Class Y shares. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 5.26% of the NAV (or 5.00% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares and Institutional Class shares are not subject to sales charges. |
Average Annual Total Returns** | |||
Touchstone Small Company Fund | 1 Year | 5 Years | 10 Years |
Class A | 10.01% | 5.44% | 8.96% |
Class C | 14.26% | 5.88% | 8.87% |
Class Y | 16.33% | 6.96% | 9.84% |
Institutional Class* | 16.52% | 7.01% | 9.84% |
Class R6* | 16.37% | 7.09% | 9.91% |
Russell 2000® Index | 12.31% | 4.21% | 8.26% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares, Institutional Class shares and Class R6 shares based on the differences in sales loads and fees paid by shareholders in the different classes. The inception date of Institutional Class shares and Class R6 shares was October 30, 2017 and December 23, 2014, respectively. Institutional Class shares and Class R6 shares performance was calculated using the historical performance of Class A shares for the periods prior to October 30, 2017 and December 23, 2014, respectively. The returns have been restated for sales loads and fees applicable to Institutional Class and Class R6 shares. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 5.26% of the NAV (or 5.00% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares, Institutional Class shares and Class R6 shares are not subject to sales charges. |
Average Annual Total Returns** | |||
Touchstone Value Fund | 1 Year | 5 Years | 10 Years |
Class A | 5.53% | 7.42% | 8.53% |
Class C | 9.35% | 7.90% | 8.52% |
Class Y | 11.39% | 9.00% | 9.45% |
Institutional Class | 11.62% | 9.15% | 9.61% |
Class R6* | 11.64% | 9.06% | 9.49% |
Russell 1000® Value Index | 11.54% | 8.11% | 9.22% |
* | The chart above represents performance of Class A shares only, which will vary from the performance of Class C shares, Class Y shares, Institutional Class shares and Class R6 shares based on the differences in sales loads and fees paid by shareholders in the different classes. The inception date of Class R6 shares was October 28, 2021. Class R6 shares performance was calculated using the historical performance of Class A shares for the periods prior to October 28, 2021. The returns have been restated for sales loads and fees applicable to Class R6 shares. |
** | The average annual total returns shown above are adjusted for maximum sales loads and fees, if applicable. The maximum offering price per share of Class A shares is equal to the net asset value (“NAV”) per share plus a sales load equal to 5.26% of the NAV (or 5.00% of the offering price). Class C shares are subject to a contingent deferred sales charge (“CDSC”) of 1.00%. The CDSC will be assessed on an amount equal to the lesser of (1) the NAV at the time of purchase of the shares being redeemed or (2) the NAV of such shares being redeemed, if redeemed within a one-year period from the date of purchase. Class Y shares, Class R6 shares and Institutional Class shares are not subject to sales charges. |
Credit Quality*(% of Fixed Income Securities) | |
AAA/Aaa | 52.4% |
AA/Aa | 8.3 |
A/A | 10.4 |
BBB/Baa | 26.7 |
BB/Ba | 0.1 |
B/B | 0.3 |
CC | 0.1 |
Not Rated | 1.7 |
Total | 100.0% |
Sector Allocation**(% of Net Assets) | |
Common Stocks | |
Information Technology | 17.4% |
Health Care | 10.2 |
Communication Services | 8.7 |
Financials | 8.5 |
Industrials | 6.0 |
Consumer Discretionary | 5.5 |
Consumer Staples | 2.6 |
Energy | 2.3 |
Materials | 0.9 |
Real Estate | 0.6 |
Fixed Income Securities | 31.9 |
Exchange-Traded Fund | 1.4 |
Short-Term Investment Funds | 3.8 |
Other Assets/Liabilities (Net) | 0.2 |
Total | 100.0% |
Credit Quality*(% of Fixed Income Securities) | |
AAA/Aaa | 1.3% |
AA/Aa | 43.5 |
A/A | 44.7 |
BBB/Baa | 8.4 |
BB/Ba | 0.8 |
Cash Equivalents | 1.3 |
Total | 100.0% |
Portfolio Allocation(% of Net Assets) | |
Fixed Rate Revenue Bonds | 77.3% |
General Obligation Bonds | 20.5 |
Short-Term Investment Fund | 2.5 |
Other Assets/Liabilities (Net) | (0.3) |
Total | 100.0% |
Geographic Allocation(% of Net Assets) | |
Common Stocks | |
France | 20.1% |
United Kingdom | 12.6 |
Switzerland | 10.4 |
Germany | 9.2 |
United States | 5.3 |
Canada | 4.4 |
Japan | 4.3 |
Netherlands | 4.3 |
Mexico | 3.7 |
Hong Kong | 2.7 |
Greece | 2.4 |
Brazil | 2.0 |
South Korea | 1.9 |
Norway | 1.9 |
India | 1.5 |
Taiwan | 1.5 |
Spain | 1.4 |
Tanzania | 1.1 |
China | 0.1 |
Short-Term Investment Fund | 8.8 |
Other Assets/Liabilities (Net) | 0.4 |
Total | 100.0% |
Geographic Allocation(% of Net Assets) | |
Common Stocks | |
India | 14.5% |
United Kingdom | 12.9 |
United States | 11.7 |
Switzerland | 8.4 |
Canada | 7.3 |
France | 6.4 |
Germany | 5.5 |
Israel | 4.9 |
Netherlands | 4.9 |
Sweden | 4.6 |
Spain | 4.6 |
Argentina | 3.6 |
Taiwan | 2.9 |
Singapore | 2.8 |
Indonesia | 2.1 |
Italy | 1.7 |
Poland | 1.1 |
Short-Term Investment Fund | 0.2 |
Other Assets/Liabilities (Net) | (0.1) |
Total | 100.0% |
Sector Allocation*(% of Net Assets) | |
Information Technology | 25.9% |
Health Care | 15.3 |
Financials | 13.3 |
Communication Services | 13.0 |
Industrials | 8.8 |
Consumer Discretionary | 7.9 |
Consumer Staples | 4.0 |
Energy | 3.6 |
Materials | 1.5 |
Real Estate | 1.0 |
Short-Term Investment Fund | 5.7 |
Other Assets/Liabilities (Net) | 0.0 |
Total | 100.0% |
Sector Allocation*(% of Net Assets) | |
Financials | 24.1% |
Consumer Discretionary | 14.0 |
Information Technology | 13.4 |
Materials | 13.2 |
Industrials | 12.1 |
Consumer Staples | 9.1 |
Communication Services | 5.4 |
Health Care | 4.3 |
Energy | 3.0 |
Short-Term Investment Fund | 1.4 |
Other Assets/Liabilities (Net) | 0.0 |
Total | 100.0% |
Sector Allocation*(% of Net Assets) | |
Information Technology | 55.0% |
Financials | 17.4 |
Health Care | 7.4 |
Consumer Discretionary | 7.2 |
Communication Services | 6.2 |
Materials | 2.0 |
Consumer Staples | 1.9 |
Industrials | 1.7 |
Short-Term Investment Fund | 2.0 |
Other Assets/Liabilities (Net) | (0.8) |
Total | 100.0% |
Sector Allocation*(% of Net Assets) | |
Industrials | 21.9% |
Health Care | 16.7 |
Consumer Discretionary | 15.4 |
Information Technology | 14.5 |
Real Estate | 10.3 |
Financials | 9.3 |
Materials | 4.1 |
Energy | 2.9 |
Communication Services | 2.7 |
Short-Term Investment Fund | 2.9 |
Other Assets/Liabilities (Net) | (0.7) |
Total | 100.0% |
Sector Allocation*(% of Net Assets) | |
Financials | 18.1% |
Health Care | 14.9 |
Industrials | 11.2 |
Energy | 10.7 |
Information Technology | 9.9 |
Consumer Discretionary | 9.2 |
Materials | 7.2 |
Communication Services | 6.6 |
Consumer Staples | 5.9 |
Real Estate | 2.6 |
Utilities | 2.6 |
Short-Term Investment Fund | 1.1 |
Other Assets/Liabilities (Net) | 0.0 |
Total | 100.0% |
Shares | Market Value | |||
Common Stocks — 62.7% | ||||
Information Technology — 17.4% | ||||
217,560 | Apple, Inc. | $ 42,200,113 | ||
53,688 | International Business Machines Corp. | 7,183,991 | ||
140,613 | Microsoft Corp. | 47,884,351 | ||
119,074 | Oracle Corp. | 14,180,523 | ||
57,012 | Salesforce, Inc.* | 12,044,355 | ||
59,302 | Texas Instruments, Inc. | 10,675,546 | ||
33,490 | Workday, Inc. - Class A* | 7,565,056 | ||
141,733,935 | ||||
Health Care — 10.2% | ||||
65,880 | AmerisourceBergen Corp. | 12,677,288 | ||
100,310 | BioMarin Pharmaceutical, Inc.* | 8,694,871 | ||
115,178 | Bristol-Myers Squibb Co. | 7,365,633 | ||
45,085 | HCA Healthcare, Inc. | 13,682,396 | ||
93,696 | Johnson & Johnson | 15,508,562 | ||
107,366 | Medtronic PLC | 9,458,945 | ||
32,291 | UnitedHealth Group, Inc. | 15,520,346 | ||
82,908,041 | ||||
Communication Services — 8.7% | ||||
214,937 | Alphabet, Inc. - Class C* | 26,000,929 | ||
182,746 | AT&T, Inc. | 2,914,799 | ||
196,354 | Comcast Corp. - Class A | 8,158,508 | ||
43,169 | Fox Corp. - Class A | 1,467,746 | ||
72,764 | Meta Platforms, Inc. - Class A* | 20,881,813 | ||
17,424 | Netflix, Inc.* | 7,675,098 | ||
42,324 | Walt Disney Co. (The)* | 3,778,687 | ||
70,877,580 | ||||
Financials — 8.5% | ||||
226,643 | Bank of America Corp. | 6,502,388 | ||
71,331 | Berkshire Hathaway, Inc. - Class B* | 24,323,871 | ||
35,137 | Goldman Sachs Group, Inc. (The) | 11,333,088 | ||
6,339 | Markel Group, Inc.* | 8,767,978 | ||
65,367 | PayPal Holdings, Inc.* | 4,361,940 | ||
56,869 | Visa, Inc. - Class A | 13,505,250 | ||
68,794,515 | ||||
Industrials — 6.0% | ||||
39,393 | Boeing Co. (The)* | 8,318,226 | ||
17,118 | FedEx Corp. | 4,243,552 | ||
30,303 | Hubbell, Inc. | 10,047,263 | ||
96,838 | Raytheon Technologies Corp. | 9,486,250 | ||
162,613 | Southwest Airlines Co. | 5,888,217 | ||
100,566 | SS&C Technologies Holdings, Inc. | 6,094,299 | ||
46,252 | Stanley Black & Decker, Inc. | 4,334,275 | ||
48,412,082 | ||||
Consumer Discretionary — 5.5% | ||||
42,643 | Airbnb, Inc. - Class A* | 5,465,127 | ||
35,184 | Alibaba Group Holding Ltd. (China) ADR* | 2,932,586 | ||
181,305 | Amazon.com, Inc.* | 23,634,920 | ||
40,497 | Hilton Worldwide Holdings, Inc. | 5,894,338 | ||
64,894 | Starbucks Corp. | 6,428,400 | ||
44,355,371 | ||||
Consumer Staples — 2.6% | ||||
192,794 | Monster Beverage Corp.* | 11,074,087 | ||
104,833 | Philip Morris International, Inc. | 10,233,798 | ||
21,307,885 | ||||
Energy — 2.3% | ||||
110,577 | Exxon Mobil Corp. | 11,859,383 | ||
144,877 | Schlumberger NV | 7,116,358 | ||
18,975,741 |
Shares | Market Value | |||
Materials — 0.9% | ||||
107,398 | DuPont de Nemours, Inc. | $ 7,672,513 | ||
Real Estate — 0.6% | ||||
31,755 | Jones Lang LaSalle, Inc.* | 4,947,429 | ||
Total Common Stocks | $509,985,092 |
Principal Amount | ||||
U.S. Treasury Obligations — 12.0% | ||||
$ 5,355,000 | U.S. Treasury Bond, 1.750%, 8/15/41 | 3,755,403 | ||
5,015,000 | U.S. Treasury Bond, 3.250%, 5/15/42 | 4,467,856 | ||
5,990,000 | U.S. Treasury Bond, 4.000%, 11/15/42 | 5,942,267 | ||
8,594,000 | U.S. Treasury Bond, 4.000%, 11/15/52 | 8,812,879 | ||
7,000,000 | U.S. Treasury Note, 0.250%, 10/31/25 | 6,316,953 | ||
6,834,000 | U.S. Treasury Note, 0.750%, 5/31/26 | 6,136,718 | ||
1,000 | U.S. Treasury Note, 2.750%, 8/15/32 | 916 | ||
32,645,000 | U.S. Treasury Note, 3.500%, 2/15/33 | 31,782,968 | ||
12,122,000 | U.S. Treasury Note, 3.625%, 5/31/28 | 11,853,043 | ||
12,045,000 | U.S. Treasury Note, 4.000%, 2/29/28 | 11,951,839 | ||
3,199,000 | U.S. Treasury Note, 4.125%, 11/15/32 | 3,266,979 | ||
3,275,000 | U.S. Treasury Note, 4.375%, 10/31/24 | 3,235,086 | ||
Total U.S. Treasury Obligations | $97,522,907 | |||
Corporate Bonds — 11.0% | ||||
Financials — 3.0% | ||||
1,217,000 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland), 2.450%, 10/29/26 | 1,087,202 | ||
918,000 | Allstate Corp. (The), Ser B, 5.750%, 8/15/53 | 903,376 | ||
820,000 | Ares Capital Corp., 3.250%, 7/15/25 | 757,864 | ||
479,000 | Bank of America Corp., 2.687%, 4/22/32 | 396,589 | ||
753,000 | Bank of America Corp., 3.705%, 4/24/28 | 705,571 | ||
828,000 | Bank of Montreal (Canada), 3.803%, 12/15/32 | 728,773 | ||
790,000 | Bank of New York Mellon Corp. (The), 5.834%, 10/25/33 | 822,659 | ||
1,290,000 | Bank of Nova Scotia (The) (Canada), 3.625%, 10/27/81 | 911,838 | ||
1,092,000 | Barclays PLC (United Kingdom), 2.894%, 11/24/32 | 859,393 | ||
520,000 | Berkshire Hathaway Finance Corp., 4.250%, 1/15/49 | 472,621 | ||
699,000 | Citigroup, Inc., 3.200%, 10/21/26 | 653,873 | ||
576,000 | Citigroup, Inc., 6.174%, 5/25/34 | 580,211 | ||
790,000 | Citizens Bank NA, 4.575%, 8/9/28 | 717,851 | ||
856,000 | Cooperatieve Rabobank UA (Netherlands), 144a, 1.106%, 2/24/27 | 756,350 | ||
1,657,000 | Corestates Capital III, 144a, (3M LIBOR +0.570%), 5.891%, 2/15/27(A) | 1,520,603 | ||
796,000 | Goldman Sachs Group, Inc. (The), 2.615%, 4/22/32 | 652,546 | ||
674,000 | Goldman Sachs Group, Inc. (The), 3.691%, 6/5/28 | 633,057 | ||
1,175,000 | Huntington Bancshares, Inc., 2.550%, 2/4/30 | 935,653 | ||
876,000 | JPMorgan Chase & Co., 2.956%, 5/13/31 | 750,902 | ||
902,000 | JPMorgan Chase & Co., 3.509%, 1/23/29 | 833,520 | ||
1,147,000 | Mastercard, Inc., 2.000%, 11/18/31 | 946,571 | ||
998,000 | Morgan Stanley, 3.950%, 4/23/27 | 944,759 | ||
663,000 | Morgan Stanley, 5.297%, 4/20/37 | 627,048 | ||
779,000 | New York Life Global Funding, 144a, 4.550%, 1/28/33 | 750,711 | ||
764,000 | Northern Trust Corp., 6.125%, 11/2/32 | 791,660 | ||
1,087,708 | Northwestern Mutual Life Insurance Co. (The), 144a, 3.850%, 9/30/47 | 847,257 | ||
1,269,000 | PNC Capital Trust, (3M LIBOR +0.570%), 6.066%, 6/1/28(A) | 1,142,271 | ||
757,000 | Prudential Financial, Inc., 5.125%, 3/1/52 | 683,473 |
Principal Amount | MarketValue | |||
Corporate Bonds — 11.0% (Continued) | ||||
Financials — (Continued) | ||||
$ 1,368,000 | Truist Bank, Ser A, (3M LIBOR +0.670%), 5.990%, 5/15/27(A) | $ 1,242,614 | ||
669,000 | US Bancorp, 4.967%, 7/22/33 | 605,657 | ||
24,262,473 | ||||
Consumer Discretionary — 1.3% | ||||
967,000 | 7-Eleven, Inc., 144a, 1.800%, 2/10/31 | 764,607 | ||
77,595 | Air Canada 2015-1 Class A Pass Through Trust (Canada), 144a, 3.600%, 3/15/27 | 71,989 | ||
1,316,000 | BAT Capital Corp. (United Kingdom), 3.557%, 8/15/27 | 1,208,337 | ||
815,000 | Brunswick Corp., 4.400%, 9/15/32 | 711,708 | ||
616,000 | Ford Motor Co., 3.250%, 2/12/32 | 484,544 | ||
1,461,000 | General Motors Financial Co., Inc., 3.100%, 1/12/32 | 1,181,167 | ||
550,000 | General Motors Financial Co., Inc., 5.650%, 1/17/29 | 540,720 | ||
605,000 | Home Depot, Inc. (The), 5.950%, 4/1/41 | 665,242 | ||
573,000 | Imperial Brands Finance PLC (United Kingdom), 144a, 6.125%, 7/27/27 | 573,856 | ||
1,240,000 | JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 144a, 2.500%, 1/15/27 | 1,086,364 | ||
398,000 | JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 144a, 4.375%, 2/2/52 | 278,931 | ||
881,000 | Lowe's Cos., Inc., 4.500%, 4/15/30 | 856,344 | ||
1,021,000 | Toll Brothers Finance Corp., 3.800%, 11/1/29 | 914,177 | ||
644,000 | Warnermedia Holdings, Inc., 4.279%, 3/15/32 | 571,241 | ||
954,000 | Warnermedia Holdings, Inc., 5.141%, 3/15/52 | 775,805 | ||
10,685,032 | ||||
Health Care — 1.0% | ||||
774,000 | AbbVie, Inc., 4.450%, 5/14/46 | 680,343 | ||
679,000 | Alcon Finance Corp. (Switzerland), 144a, 3.800%, 9/23/49 | 524,277 | ||
876,000 | Amgen, Inc., 5.150%, 3/2/28 | 874,974 | ||
700,000 | Becton Dickinson & Co., 4.685%, 12/15/44 | 632,622 | ||
734,000 | CommonSpirit Health, 4.187%, 10/1/49 | 591,276 | ||
686,000 | CVS Health Corp., 5.125%, 7/20/45 | 633,685 | ||
847,000 | DH Europe Finance II Sarl, 3.250%, 11/15/39 | 687,394 | ||
768,000 | Elevance Health, Inc., 4.750%, 2/15/33 | 745,568 | ||
668,000 | Eli Lilly & Co., 4.875%, 2/27/53 | 685,167 | ||
812,000 | HCA, Inc., 5.375%, 9/1/26 | 805,347 | ||
871,000 | UnitedHealth Group, Inc., 3.500%, 8/15/39 | 729,418 | ||
950,000 | Viatris, Inc., 2.700%, 6/22/30 | 768,326 | ||
8,358,397 | ||||
Utilities — 1.0% | ||||
1,251,000 | CMS Energy Corp., 4.750%, 6/1/50 | 1,078,612 | ||
502,000 | Duke Energy Progress LLC, 4.150%, 12/1/44 | 415,540 | ||
504,000 | Edison International, 4.125%, 3/15/28 | 470,187 | ||
823,000 | Electricite de France SA (France), 144a, 4.875%, 9/21/38 | 692,100 | ||
1,041,000 | FirstEnergy Transmission LLC, 144a, 5.450%, 7/15/44 | 961,328 | ||
1,055,000 | NextEra Energy Capital Holdings, Inc., (3M LIBOR +2.067%), 7.601%, 10/1/66(A) | 909,490 | ||
1,040,000 | Ohio Power Co., Ser R, 2.900%, 10/1/51 | 689,298 | ||
909,000 | Pacific Gas and Electric Co., 3.500%, 8/1/50 | 576,596 | ||
739,000 | PacifiCorp., 5.750%, 4/1/37 | 711,596 | ||
1,509,000 | WEC Energy Group, Inc., (3M LIBOR +2.112%), 7.433%, 5/15/67(A) | 1,269,853 | ||
7,774,600 | ||||
Industrials — 0.9% | ||||
792,000 | Amcor Flexibles North America, Inc., 2.630%, 6/19/30 | 658,388 | ||
469,000 | Boeing Co. (The), 5.805%, 5/1/50 | 465,518 | ||
887,000 | Burlington Northern Santa Fe LLC, 5.750%, 5/1/40 | 936,780 | ||
603,000 | Carrier Global Corp., 3.577%, 4/5/50 | 444,798 |
Principal Amount | MarketValue | |||
Industrials — (Continued) | ||||
$ 595,000 | FedEx Corp., 5.100%, 1/15/44 | $ 553,039 | ||
859,000 | John Deere Capital Corp., MTN, 2.450%, 1/9/30 | 754,300 | ||
753,000 | Mohawk Industries, Inc., 3.625%, 5/15/30† | 679,390 | ||
743,000 | Norfolk Southern Corp., 4.837%, 10/1/41 | 686,186 | ||
547,000 | Roper Technologies, Inc., 2.950%, 9/15/29 | 483,393 | ||
1,533,000 | Weir Group PLC (The) (United Kingdom), 144a, 2.200%, 5/13/26 | 1,371,607 | ||
520,000 | WestRock MWV LLC, 8.200%, 1/15/30 | 596,083 | ||
7,629,482 | ||||
Information Technology — 0.8% | ||||
580,000 | Apple, Inc., 4.650%, 2/23/46 | 570,933 | ||
1,309,000 | Broadcom, Inc., 4.150%, 11/15/30 | 1,203,747 | ||
1,048,000 | Marvell Technology, Inc., 2.950%, 4/15/31 | 877,821 | ||
1,064,000 | Microchip Technology, Inc., 0.983%, 9/1/24 | 1,004,883 | ||
544,000 | Micron Technology, Inc., 2.703%, 4/15/32 | 428,673 | ||
194,000 | Micron Technology, Inc., 6.750%, 11/1/29 | 201,551 | ||
446,000 | Microsoft Corp., 3.500%, 2/12/35 | 416,993 | ||
912,000 | NXP BV / NXP Funding LLC (China), 5.350%, 3/1/26 | 905,567 | ||
365,000 | Oracle Corp., 3.600%, 4/1/40 | 281,939 | ||
247,000 | Oracle Corp., 4.300%, 7/8/34 | 223,663 | ||
630,000 | Visa, Inc., 4.150%, 12/14/35 | 599,458 | ||
6,715,228 | ||||
Energy — 0.8% | ||||
690,000 | Aker BP ASA (Norway), 144a, 6.000%, 6/13/33 | 689,325 | ||
549,000 | Boardwalk Pipelines LP, 4.800%, 5/3/29 | 526,199 | ||
595,000 | Cenovus Energy, Inc. (Canada), 5.250%, 6/15/37 | 547,259 | ||
1,136,000 | Cheniere Energy, Inc., 4.625%, 10/15/28 | 1,060,810 | ||
620,000 | Continental Resources, Inc., 144a, 5.750%, 1/15/31 | 589,271 | ||
600,042 | MC Brazil Downstream Trading SARL (Brazil), 144a, 7.250%, 6/30/31 | 405,066 | ||
814,000 | Midwest Connector Capital Co. LLC, 144a, 4.625%, 4/1/29 | 743,534 | ||
763,000 | MPLX LP, 4.950%, 3/14/52 | 646,120 | ||
745,000 | NGPL PipeCo LLC, 144a, 7.768%, 12/15/37 | 793,779 | ||
663,000 | Petroleos Mexicanos (Mexico), 6.625%, 6/15/35 | 462,455 | ||
6,463,818 | ||||
Real Estate — 0.7% | ||||
856,000 | Crown Castle International Corp. REIT, 3.650%, 9/1/27 | 799,932 | ||
948,000 | Host Hotels & Resorts LP REIT, Ser F, 4.500%, 2/1/26 | 918,849 | ||
939,000 | Invitation Homes Operating Partnership LP REIT, 4.150%, 4/15/32 | 840,522 | ||
118,000 | Kilroy Realty LP REIT, 2.500%, 11/15/32 | 81,716 | ||
413,000 | Kilroy Realty LP REIT, 2.650%, 11/15/33 | 279,958 | ||
449,000 | Kilroy Realty LP REIT, 3.050%, 2/15/30 | 350,985 | ||
671,000 | Sabra Health Care LP REIT, 5.125%, 8/15/26 | 630,096 | ||
593,000 | SBA Tower Trust REIT, 144a, 6.599%, 1/15/28 | 602,327 | ||
363,000 | STORE Capital Corp. REIT, 2.700%, 12/1/31 | 252,078 | ||
196,000 | STORE Capital Corp. REIT, 2.750%, 11/18/30 | 141,560 | ||
552,000 | STORE Capital Corp. REIT, 4.625%, 3/15/29 | 464,593 | ||
5,362,616 | ||||
Consumer Staples — 0.6% | ||||
915,000 | Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. (Belgium), 4.900%, 2/1/46 | 871,939 | ||
884,000 | Ashtead Capital, Inc. (United Kingdom), 144a, 4.000%, 5/1/28 | 818,708 | ||
301,000 | Kroger Co. (The), 5.000%, 4/15/42 | 274,567 | ||
850,000 | Mars, Inc., 144a, 3.875%, 4/1/39 | 715,425 | ||
870,000 | PepsiCo, Inc., 4.450%, 2/15/33† | 876,697 |
Principal Amount | MarketValue | |||
Corporate Bonds — 11.0% (Continued) | ||||
Consumer Staples — (Continued) | ||||
$ 1,188,000 | Philip Morris International, Inc., 5.375%, 2/15/33 | $ 1,184,911 | ||
484,000 | Starbucks Corp., 3.350%, 3/12/50 | 354,200 | ||
5,096,447 | ||||
Communication Services — 0.6% | ||||
433,000 | AT&T, Inc., 4.500%, 5/15/35 | 397,869 | ||
1,084,000 | British Telecommunications PLC (United Kingdom), 144a, 3.250%, 11/8/29 | 950,211 | ||
577,000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.484%, 10/23/45 | 542,980 | ||
692,000 | Comcast Corp., 4.000%, 3/1/48 | 576,074 | ||
632,000 | Paramount Global, 4.200%, 5/19/32 | 529,339 | ||
943,000 | T-Mobile USA, Inc., 3.875%, 4/15/30 | 868,678 | ||
566,000 | T-Mobile USA, Inc., 5.750%, 1/15/54 | 580,832 | ||
877,000 | Verizon Communications, Inc., 2.987%, 10/30/56 | 555,217 | ||
5,001,200 | ||||
Materials — 0.3% | ||||
600,000 | Braskem Netherlands Finance BV (Brazil), 144a, 4.500%, 1/31/30 | 515,494 | ||
531,000 | Braskem Netherlands Finance BV (Brazil), 144a, 5.875%, 1/31/50 | 428,972 | ||
833,000 | Celanese US Holdings LLC, 6.165%, 7/15/27 | 830,180 | ||
846,000 | Sherwin-Williams Co. (The), 4.500%, 6/1/47 | 739,772 | ||
2,514,418 | ||||
Total Corporate Bonds | $89,863,711 | |||
Commercial Mortgage-Backed Securities — 2.5% | ||||
825,000 | BANK, Ser 2018-BN14, Class A3, 3.966%, 9/15/60 | 767,493 | ||
26,326,664 | BANK, Ser 2019-BN21, Class XA, 0.960%, 10/17/52(A)(B)(C) | 1,055,936 | ||
905,000 | BANK, Ser 2020-BN26, Class A4, 2.403%, 3/15/63 | 751,339 | ||
1,150,000 | BANK, Ser 2022-BNK39, Class A4, 2.928%, 2/15/55 | 959,708 | ||
870,000 | BBCMS Mortgage Trust, Ser 2021-C11, Class A5, 2.322%, 9/15/54 | 698,752 | ||
2,520,000 | BBCMS Mortgage Trust, Ser 2021-C12, Class A5, 2.689%, 11/15/54 | 2,071,243 | ||
670,000 | BBCMS Mortgage Trust, Ser 2022-C14, Class A5, 2.946%, 2/15/55(A)(C) | 561,088 | ||
900,000 | BPR Trust, Ser 2021-KEN, Class B, 144a, (1M LIBOR +1.950%), 7.211%, 2/15/29(A) | 881,421 | ||
1,500,000 | BX Commercial Mortgage Trust, Ser 2020-VIV3, Class B, 144a, 3.662%, 3/9/44(A)(C) | 1,258,625 | ||
1,500,000 | BX Commercial Mortgage Trust, Ser 2020-VIV4, Class A, 144a, 2.843%, 3/9/44 | 1,236,889 | ||
755,000 | Citigroup Commercial Mortgage Trust, Ser 2020-GC46, Class A5, 2.717%, 2/15/53 | 634,829 | ||
1,220,000 | COMM Mortgage Trust, Ser 2018-HOME, Class A, 144a, 3.942%, 4/10/33(A)(C) | 1,094,489 | ||
700,000 | GS Mortgage Securities Trust, Ser 2017-FARM, Class B, 144a, 3.659%, 1/10/43(A)(C) | 587,549 | ||
1,205,000 | GS Mortgage Securities Trust, Ser 2020-GC47, Class A5, 2.377%, 5/12/53 | 979,329 | ||
1,000,000 | HONO Mortgage Trust, Ser 2021-LULU, Class B, 144a, (1M LIBOR +1.450%), 6.643%, 10/15/36(A) | 944,742 | ||
562,000,000 | Independence Plaza Trust, Ser 2018-INDP, Class XCP, 144a, 0.249%, 7/10/35(A)(B)(C) | 1,686 | ||
885,000 | JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2017-JP7, Class A5, 3.454%, 9/15/50 | 801,047 | ||
500,000 | JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2018-MINN, Class A, 144a, (1M LIBOR +1.27%), 6.463%, 11/15/35(A) | 483,014 |
Principal Amount | MarketValue | |||
Commercial Mortgage-Backed Securities — 2.5% (Continued) | ||||
$ 1,100,000 | Morgan Stanley Capital I Trust, Ser 2018-H3, Class A5, 4.177%, 7/15/51 | $ 1,020,237 | ||
825,000 | SG Commercial Mortgage Securities Trust, Ser 2019-787E, Class A, 144a, 4.163%, 2/15/41 | 717,489 | ||
770,000 | Wells Fargo Commercial Mortgage Trust, Ser 2018-AUS, Class B, 144a, 4.194%, 8/17/36(A)(C) | 673,843 | ||
2,220,000 | Wells Fargo Commercial Mortgage Trust, Ser 2019-C53, Class A4, 3.040%, 10/15/52 | 1,919,517 | ||
Total Commercial Mortgage-Backed Securities | $20,100,265 | |||
U.S. Government Mortgage-Backed Obligations — 2.2% | ||||
1,286 | FHLMC, Pool #G08062, 5.000%, 6/1/35 | 1,298 | ||
121,564 | FHLMC, Pool #G08637, 4.000%, 4/1/45 | 116,349 | ||
738,260 | FHLMC, Pool #Q02664, 4.500%, 8/1/41 | 730,143 | ||
1,273,273 | FHLMC, Pool #Q29056, 4.000%, 10/1/44 | 1,219,174 | ||
629,727 | FHLMC, Pool #Q29260, 4.000%, 10/1/44 | 603,298 | ||
1,453,065 | FHLMC REMIC, Pool #SD8148, 3.000%, 5/1/51 | 1,283,705 | ||
261,862 | FNMA, Pool #725423, 5.500%, 5/1/34 | 268,005 | ||
233,089 | FNMA, Pool #725610, 5.500%, 7/1/34 | 238,601 | ||
47,635 | FNMA, Pool #748895, 6.000%, 12/1/33 | 47,107 | ||
91,692 | FNMA, Pool #AD9193, 5.000%, 9/1/40 | 92,389 | ||
234,718 | FNMA, Pool #AH8925, 4.500%, 3/1/41 | 231,870 | ||
285,638 | FNMA, Pool #AR9195, 3.000%, 3/1/43 | 257,929 | ||
483,572 | FNMA, Pool #BC1809, 3.500%, 5/1/46 | 449,837 | ||
1,777,855 | FNMA, Pool #BT7156, 2.000%, 8/1/51 | 1,454,592 | ||
1,955,262 | FNMA, Pool #CB1336, 2.000%, 8/1/41 | 1,666,685 | ||
1,821,319 | FNMA, Pool #FM5085, 2.000%, 12/1/50 | 1,498,271 | ||
572,598 | FNMA, Pool #FM5166, 3.000%, 12/1/50 | 507,099 | ||
497,347 | FNMA, Pool #FM5279, 3.500%, 11/1/50 | 457,279 | ||
387,430 | FNMA, Pool #FM5468, 2.500%, 1/1/36 | 353,682 | ||
550,207 | FNMA, Pool #FM5682, 2.500%, 1/1/51 | 469,553 | ||
1,533,549 | FNMA, Pool #FM7913, 2.000%, 4/1/36 | 1,360,738 | ||
1,914,001 | FNMA, Pool #FM8360, 2.500%, 8/1/51 | 1,630,340 | ||
1,873,668 | FNMA, Pool #FM8361, 2.500%, 8/1/51 | 1,593,177 | ||
644,378 | FNMA, Pool #MA4166, 3.000%, 10/1/40 | 585,220 | ||
425,527 | GNMA, Pool #5175, 4.500%, 9/20/41 | 422,835 | ||
Total U.S. Government Mortgage-Backed Obligations | $17,539,176 | |||
Asset-Backed Securities — 2.1% | ||||
1,000,000 | AB BSL CLO 2 Ltd. (Cayman Islands), Ser 2021-2A, Class B1, 144a, (3M LIBOR +1.650%), 6.910%, 4/15/34(A) | 958,407 | ||
1,500,000 | AB BSL CLO 3, Ltd. (Cayman Islands), Ser 2021-3A, Class B, 144a, (3M LIBOR +1.700%), 6.950%, 10/20/34(A) | 1,451,715 | ||
337,098 | Adams Outdoor Advertising LP, Ser 2018-1, Class A, 144a, 4.810%, 11/15/48 | 317,543 | ||
337,295 | CF Hippolyta Issuer LLC, Ser 2020-1, Class A1, 144a, 1.690%, 7/15/60 | 302,624 | ||
1,155,750 | CLI Funding VI LLC, Ser 2020-3A, Class A, 144a, 2.070%, 10/18/45 | 1,002,593 | ||
837,813 | Driven Brands Funding LLC, Ser 2019-1A, Class A2, 144a, 4.641%, 4/20/49 | 786,807 | ||
277,022 | Elara HGV Timeshare Issuer LLC, Ser 2019-A, Class B, 144a, 2.910%, 1/25/34 | 253,604 | ||
1,016,600 | Jack in the Box Funding LLC, Ser 2019-1A, Class A2II, 144a, 4.476%, 8/25/49 | 938,228 | ||
975,000 | Jack in the Box Funding LLC, Ser 2022-1A, Class A2I, 144a, 3.445%, 2/26/52 | 863,173 | ||
375,165 | Jersey Mike's Funding, Ser 2019-1A, Class A2, 144a, 4.433%, 2/15/50 | 343,926 |
Principal Amount | MarketValue | |||
Asset-Backed Securities — 2.1% (Continued) | ||||
$ 1,150,000 | Madison Park Funding XLIX Ltd. (Cayman Islands), Ser 2021-49A, Class B1, 144a, (3M LIBOR +1.700%), 6.965%, 10/19/34(A) | $ 1,122,987 | ||
573,777 | Mill City Mortgage Loan Trust, Ser 2018-3, Class M3, 144a, 3.250%, 8/25/58(A)(C) | 482,621 | ||
833,000 | Neighborly Issuer LLC, Ser 2021-1A, Class A2, 144a, 3.584%, 4/30/51 | 695,009 | ||
1,500,000 | Palmer Square CLO, Ltd. (Cayman Islands), Ser 2021-4A, Class B, 144a, (3M LIBOR +1.650%), 6.910%, 10/15/34(A) | 1,462,717 | ||
987,500 | Planet Fitness Master Issuer LLC, Ser 2022-1A, Class A2I, 144a, 3.251%, 12/5/51 | 877,650 | ||
1,500,000 | Rockford Tower CLO, Ltd. (Cayman Islands), Ser 2021-3A, Class B, 144a, (3M LIBOR +1.750%), 7.000%, 10/20/34(A)(D) | 1,439,193 | ||
344,956 | TAL Advantage VII LLC, Ser 2020-1A, Class A, 144a, 2.050%, 9/20/45 | 302,132 | ||
1,280,000 | Textainer Marine Containers, Ltd. (China), Ser 2021-3A, Class A, 144a, 1.940%, 8/20/46 | 1,053,340 | ||
1,400,000 | Towd Point Mortgage Trust, Ser 2015-6, Class B1, 144a, 3.818%, 4/25/55(A)(C) | 1,279,634 | ||
1,140,000 | Towd Point Mortgage Trust, Ser 2019-4, Class M1B, 144a, 3.000%, 10/25/59(A)(C) | 913,614 | ||
Total Asset-Backed Securities | $16,847,517 |
Shares | ||||
Exchange-Traded Fund — 1.4% | ||||
133,451 | iShares JP Morgan USD Emerging Markets Bond ETF | 11,548,850 |
Principal Amount | ||||
Non-Agency Collateralized Mortgage Obligations — 1.1% | ||||
$ 94,314 | Agate Bay Mortgage Trust, Ser 2013-1, Class B3, 144a, 3.556%, 7/25/43(A)(C) | 87,471 | ||
329,671 | Agate Bay Mortgage Trust, Ser 2015-4, Class B2, 144a, 3.514%, 6/25/45(A)(C) | 305,794 | ||
405,228 | Agate Bay Mortgage Trust, Ser 2015-7, Class B1, 144a, 3.646%, 10/25/45(A)(C) | 369,751 | ||
175,358 | CSMC Trust, Ser 2013-IVR3, Class B2, 144a, 3.408%, 5/25/43(A)(C) | 166,710 | ||
304,148 | CSMC Trust, Ser 2015-1, Class B3, 144a, 3.906%, 1/25/45(A)(C) | 280,673 | ||
294,153 | CSMC Trust, Ser 2015-WIN1, Class B3, 144a, 3.771%, 12/25/44(A)(C) | 272,047 | ||
1,008,348 | Deephaven Residential Mortgage Trust, Ser 2022-2, Class A1, 144a, 4.300%, 3/25/67(A)(C) | 933,336 | ||
1,234,035 | GS Mortgage-Backed Securities Trust, Ser 2021-PJ8, Class A8, 144a, 2.500%, 1/25/52(A)(C) | 1,051,917 | ||
646,375 | JP Morgan Mortgage Trust, Ser 2017-1, Class B2, 144a, 3.450%, 1/25/47(A)(C) | 544,111 | ||
1,099,314 | JP Morgan Mortgage Trust, Ser 2020-5, Class B1, 144a, 3.578%, 12/25/50(A)(C) | 933,235 | ||
1,397,426 | Mill City Mortgage Loan Trust, Ser 2019-1, Class M1, 144a, 3.500%, 10/25/69(A)(C) | 1,249,641 | ||
145,044 | Sequoia Mortgage Trust, Ser 2015-2, Class A19, 144a, 3.500%, 5/25/45(A)(C) | 128,334 | ||
880,435 | Sequoia Mortgage Trust, Ser 2018-CH3, Class B1B, 144a, 4.757%, 8/25/48(A)(C) | 829,697 | ||
798,812 | Sequoia Mortgage Trust, Ser 2018-CH3, Class B2B, 144a, 4.757%, 8/25/48(A)(C) | 752,777 | ||
1,223,999 | Wells Fargo Mortgage Backed Securities Trust, Ser 2021-2, Class A3, 144a, 2.500%, 6/25/51(A)(C) | 1,043,899 | ||
Total Non-Agency Collateralized Mortgage Obligations | $8,949,393 |
Principal Amount | MarketValue | |||
Agency Collateralized Mortgage Obligations — 0.7% | ||||
$ 515,000 | FHLMC REMIC, Ser 4991, Class HB, 2.000%, 7/25/50 | $ 372,364 | ||
1,650,000 | FHLMC REMIC, Ser 5178, Class CV, 2.000%, 11/25/40 | 1,224,202 | ||
1,500,000 | FNMA REMIC, Ser 2019-35, Class KB, 3.000%, 7/25/49 | 1,206,016 | ||
2,150,000 | FNMA REMIC, Ser 2022-16, Class KB, 2.500%, 11/25/49 | 1,620,851 | ||
1,370,000 | FREMF Mortgage Trust, Ser 2019-K103, Class B, 144a, 3.574%, 12/25/51(A)(C) | 1,209,103 | ||
197,843 | GNMA, Ser 2010-169, Class AW, 4.500%, 12/20/40 | 192,359 | ||
3,803,061 | GNMA, Ser 2012-147, Class IO, 0.548%, 4/16/54(A)(B)(C) | 47,795 | ||
Total Agency Collateralized Mortgage Obligations | $5,872,690 | |||
Sovereign Government Obligations — 0.3% | ||||
674,000 | Bahamas Government International Bond, 144a, 6.000%, 11/21/28 | 537,515 | ||
750,000 | Chile Government International Bond, 3.100%, 1/22/61 | 487,790 | ||
663,000 | Colombia Government International Bond, 3.250%, 4/22/32 | 489,997 | ||
725,000 | Ecuador Government International Bond, 144a, 5.500%, 7/31/30 | 348,601 | ||
680,000 | Ghana Government International Bond, 144a, 7.625%, 5/16/29# | 289,000 | ||
728,000 | Mexico Government International Bond, 3.771%, 5/24/61 | 494,072 | ||
Total Sovereign Government Obligations | $2,646,975 |
Shares | ||||
Short-Term Investment Funds — 3.8% | ||||
29,241,098 | Dreyfus Government Cash Management, Institutional Shares, 5.00%∞Ω | 29,241,098 | ||
1,390,875 | Invesco Government & Agency Portfolio, Institutional Class, 5.05%∞Ω** | 1,390,875 | ||
Total Short-Term Investment Funds | $30,631,973 | |||
Total Investment Securities—99.8% (Cost $672,647,567) | $811,508,549 | |||
Other Assets in Excess of Liabilities — 0.2% | 1,651,263 | |||
Net Assets — 100.0% | $813,159,812 |
(A) | Variable rate security - Rate reflected is the rate in effect as of June 30, 2023. |
(B) | Interest only security - This type of security represents the right to receive the monthly interest payments on an underlying pool of mortgages. Payments of principal on the pool reduce the value of the “interest only” holding. |
(C) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(D) | Security has no stated coupon and is considered an equity position in the collateralized loan obligation (“CLO”). CLO equity investments are entitled to recurring distributions which are generally equal to the excess cash flow generated from the underlying investments after payment of the contractual payments to debt holders and fund expenses. |
# | The issuer is in default of certain debt covenants. Income is not being accrued. |
* | Non-income producing security. |
** | Represents collateral for securities loaned. |
† | All or a portion of the security is on loan. The total market value of the securities on loan as of June 30, 2023 was $1,354,900. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2023. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
CLO – Collateralized Loan Obligation |
DAC – Designated Activity Company |
ETF – Exchange-Traded Fund |
FHLMC – Federal Home Loan Mortgage Corporation |
FNMA – Federal National Mortgage Association |
FREMF – Freddie Mac Multifamily Securitization |
GNMA – Government National Mortgage Association |
ICE – Intercontinental Exchange, Inc. |
IO – Interest Only |
LIBOR – London Interbank Offered Rate |
LLC – Limited Liability Company |
LP – Limited Partnership |
MTN – Medium Term Note |
PLC – Public Limited Company |
REIT – Real Estate Investment Trust |
REMIC – Real Estate Mortgage Investment Conduit |
USD – United States Dollar |
144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2023, these securities were valued at $53,512,963 or 6.6% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Assets: | ||||
Common Stocks | $509,985,092 | $— | $— | $509,985,092 |
U.S. Treasury Obligations | — | 97,522,907 | — | 97,522,907 |
Corporate Bonds | — | 89,863,711 | — | 89,863,711 |
Commercial Mortgage-Backed Securities | — | 20,100,265 | — | 20,100,265 |
U.S. Government Mortgage-Backed Obligations | — | 17,539,176 | — | 17,539,176 |
Asset-Backed Securities | — | 16,847,517 | — | 16,847,517 |
Exchange-Traded Fund | 11,548,850 | — | — | 11,548,850 |
Non-Agency Collateralized Mortgage Obligations | — | 8,949,393 | — | 8,949,393 |
Agency Collateralized Mortgage Obligations | — | 5,872,690 | — | 5,872,690 |
Sovereign Government Obligations | — | 2,646,975 | — | 2,646,975 |
Short-Term Investment Funds | 30,631,973 | — | — | 30,631,973 |
Other Financial Instruments | ||||
Futures | ||||
Interest rate contracts | 147,280 | — | — | 147,280 |
Total Assets | $552,313,195 | $259,342,634 | $— | $811,655,829 |
Liabilities: | ||||
Other Financial Instruments | ||||
Swap Agreements | ||||
Credit contracts | $— | $(150,200) | $— | $(150,200) |
Futures | ||||
Interest rate contracts | (1,084,850) | — | — | (1,084,850) |
Total Liabilities | $(1,084,850) | $(150,200) | $— | $(1,235,050) |
Total | $551,228,345 | $259,192,434 | $— | $810,420,779 |
Description | Expiration Date | Number of Contracts | Notional Value | Unrealized Appreciation/ Depreciation |
Short Futures: | ||||
10-Year U.S. Ultra Treasury Note | 9/20/2023 | 70 | $8,290,625 | $114,647 |
30-Year U.S. Ultra Treasury Bond | 9/20/2023 | 29 | 3,950,344 | 32,633 |
Long Futures: | ||||
5-Year U.S. Treasury Note | 9/29/2023 | 130 | 13,922,188 | (95,817) |
2-Year U.S. Treasury Note | 9/29/2023 | 340 | 69,136,875 | (989,033) |
$(937,570) |
Counterparty | Termination Date | Notional Amount(2) | Pay Fixed Rate | Clearinghouse | Underlying Bond | Value(3) | Premiums Paid/ (Received) | Unrealized Depreciation |
Buy Protection: | ||||||||
Wells Fargo | 6/20/28 | $10,220,000 | 5.000% | ICE | Markit CDX North America High Yield Series 40 5Y Index | $(285,448) | $(135,249) | $(150,200) |
(1) | If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying investments comprising the referenced index or (ii) receive a net settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index. |
(2) | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
(3) | The quoted market prices and resulting values for credit default swap agreements on the underlying bond serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative had the notional amount of the swap agreement been closed/sold as of the period end. Decreasing market values (sell protection) or increasing market values (buy protection) when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. |
Principal Amount | Market Value | |||
Fixed Rate Revenue Bonds – 77.3% | ||||
$ 500,000 | Alaska Municipal Bond Bank Auth., Revenue, 5.000%, 12/01/33 | $ 568,011 | ||
500,000 | American Municipal Power Inc, Revenue, 5.000%, 02/15/35 | 560,979 | ||
500,000 | Atlanta, GA, Water & Wastewater Revenue Ser C, 5.000%, 11/01/23 | 502,869 | ||
550,000 | Barry County, MO, COP, 5.000%, 10/01/37 | 573,632 | ||
500,000 | Chicago, IL, Wastewater Transmission Revenue Ser C, 5.000%, 01/01/26 | 511,291 | ||
525,000 | Citizens Property Insurance, Inc., Revenue, 5.000%, 06/01/25 | 534,994 | ||
450,000 | City of Erie Higher Education Building Authority, Revenue, 5.000%, 05/01/47 | 426,924 | ||
500,000 | Cleveland County Educational Fac. Auth., Revenue, 5.000%, 06/01/25 | 516,247 | ||
500,000 | Cleveland, OH, Airport System Rev. Ser B, 5.000%, 01/01/37 | 536,642 | ||
500,000 | Cobb County Kennestone Hospital Auth., Revenue, 4.000%, 04/01/52 | 452,684 | ||
500,000 | Colorado Health Fac. Auth., Revenue, 5.000%, 11/01/28 | 534,325 | ||
500,000 | Colorado River Municipal Water District, Revenue, 5.000%, 01/01/25 | 513,036 | ||
500,000 | Connecticut State Health & Educational Fac. Auth., Revenue, 5.000%, 07/01/48 | 529,546 | ||
700,000 | County of Miami-Dade FL Aviation Revenue, Revenue Ser A, 5.000%, 10/01/33 | 787,186 | ||
500,000 | County of Miami-Dade FL Transit System, Revenue, 5.000%, 07/01/32 | 516,320 | ||
500,000 | County of Miami-Dade FL Water & Sewer System Revenue, 5.000%, 10/01/28 | 550,517 | ||
500,000 | County of Nez Perce, COP, 5.000%, 03/01/52 | 521,877 | ||
685,000 | DeKalb-Jackson Water Supply District Inc, Revenue Ser A, 5.000%, 07/01/32 | 765,715 | ||
500,000 | Ferris State University, Revenue Ser A, 5.000%, 10/01/23 | 501,873 | ||
500,000 | Florida Development Finance Corp., Revenue Ser A, 5.000%, 06/15/30 | 512,979 | ||
425,000 | Georgetown, TX, Utility System Revenue, 5.000%, 08/15/35 | 477,473 | ||
500,000 | Greater Jasper School Building Corp., Revenue, 5.000%, 07/15/29 | 544,850 | ||
510,000 | Greater Texas Cultural Education Fac. Finance Corp., Revenue, 5.000%, 03/01/28 | 554,272 | ||
500,000 | Greater Texas Cultural Education Fac. Finance Corp., Revenue, 5.000%, 03/01/31 | 564,520 | ||
350,000 | Guam Power Auth., Revenue Ser A, 5.000%, 10/01/26 | 361,709 | ||
500,000 | Hamilton County, OH, 5.000%, 08/15/40 | 524,434 | ||
1,000,000 | Hamilton County, OH EDR, 5.000%, 06/01/33 | 1,026,151 | ||
465,000 | Harris County Cultural Education Fac. Finance Corp., Revenue Ser A, 5.000%, 07/01/52 | 480,773 | ||
500,000 | Health Care Auth. for Baptist Health/The, Revenue Ser A, 5.000%, 11/15/32 | 557,488 | ||
500,000 | Hospitals & Higher Education Fac. Auth. of Philadelphia/The, Revenue, 5.000%, 07/01/37 | 538,053 | ||
500,000 | Illinois Finance Auth., Revenue Ser A, 5.000%, 08/15/47 | 530,235 | ||
675,000 | Illinois State Toll Highway Authority, Revenue Ser A, 5.000%, 01/01/46 | 726,246 | ||
500,000 | Iowa Higher Education Loan Auth., Revenue, 5.375%, 10/01/52 | 516,558 | ||
595,000 | Kentucky Public Energy Auth., Revenue Ser 1, 4.000%, 02/01/30 | 589,124 | ||
500,000 | Kentucky State Property & Building Commission, Revenue Ser A, 5.000%, 11/01/23 | 502,481 |
Principal Amount | Market Value | |||
$ 500,000 | Kentucky State Property & Building Commission, Revenue Ser B, 5.000%, 11/01/23 | $ 502,481 | ||
500,000 | Los Angeles, CA, Wastewater System Revenue Ser C, 5.000%, 06/01/25 | 519,822 | ||
500,000 | Louisiana Local Government Environmental Fac. & Community Development Auth, Revenue, 5.000%, 08/15/30 | 533,086 | ||
500,000 | Louisiana Public Fac. Auth., Revenue Ser A, 5.000%, 10/15/37 | 558,733 | ||
500,000 | Louisville/Jefferson County Metropolitan Government, Revenue Ser A, 5.000%, 05/15/52 | 506,175 | ||
500,000 | Medford Hospital Fac. Auth., Revenue Ser A, 5.000%, 08/15/27 | 533,360 | ||
500,000 | Michigan Finance Auth., Revenue, 5.000%, 04/15/28 | 542,610 | ||
500,000 | Michigan Finance Authority, Revenue, 5.000%, 06/01/32 | 543,442 | ||
500,000 | Michigan State Building Auth., Revenue, 5.000%, 04/15/34 | 518,778 | ||
500,000 | Missouri Joint Municipal Electric Utility Commission, Revenue, 5.000%, 12/01/36 | 549,959 | ||
500,000 | Monroeville Finance Auth., Revenue Ser B, 5.000%, 02/15/29 | 545,774 | ||
575,000 | Montrose Redevelopment Auth., 5.000%, 09/01/26 | 599,535 | ||
500,000 | Municipal Electric Authority of Georgia, 5.000%, 07/01/52 | 512,875 | ||
500,000 | New Hampshire Business Finance Auth., Revenue Ser A, 5.250%, 06/01/51 | 539,175 | ||
500,000 | New Jersey Economic Development Auth., Revenue EDR, 5.000%, 03/01/28 | 537,548 | ||
500,000 | New Jersey Transportation Trust Fund Authority, Revenue, 5.000%, 06/15/45 | 528,880 | ||
500,000 | New York State Dormitory Auth., Revenue, 5.000%, 07/01/29 | 529,069 | ||
500,000 | New York State Dormitory Auth., Revenue, 5.000%, 05/01/52 | 525,209 | ||
500,000 | Newark Higher Education Finance Corp., Revenue Ser A, 4.000%, 04/01/57 | 432,421 | ||
500,000 | North Kent Sewer Auth., Revenue, 5.000%, 11/01/23 | 502,610 | ||
500,000 | Ohio Higher Educational Fac. Commission, 5.000%, 03/01/34 | 508,403 | ||
500,000 | Oregon State Fac. Auth., Revenue Ser A, 5.000%, 06/01/52 | 516,443 | ||
500,000 | Pasco County School Board, COP Ser B, 5.000%, 08/01/46 | 528,919 | ||
500,000 | Pennsylvania Higher Educational Fac. Auth., Revenue Ser A, 5.000%, 05/01/32 | 555,509 | ||
695,000 | Pennsylvania Turnpike Commission, Revenue, 5.000%, 12/01/44 | 725,246 | ||
500,000 | Philadelphia Auth. for Industrial Development, Revenue, 5.250%, 11/01/47 | 534,787 | ||
500,000 | Polaris Career Center COP, 5.000%, 11/01/35 | 516,516 | ||
500,000 | Pulaski County, AR, Revenue, 5.250%, 03/01/53 | 541,295 | ||
500,000 | Regional Transportation District, Revenue, 5.000%, 01/15/29 | 538,984 | ||
500,000 | Regional Transportation District, Revenue, 5.000%, 01/15/31 | 552,246 | ||
520,000 | South Carolina Public Service Auth., Revenue Ser A, 4.000%, 12/01/52 | 479,300 | ||
585,000 | South Wayne County Water and Sewer Authority, Revenue Ser S, 4.000%, 02/15/37 | 597,622 | ||
510,000 | State Board of Higher Education of the State of North Dakota, Revenue Ser A, 5.000%, 04/01/29 | 544,373 | ||
500,000 | State of Illinois Sales Tax Revenue Ser B, 5.000%, 06/15/33 | 525,253 | ||
500,000 | Tobacco Settlement Financing Corp, Revenue, 5.000%, 06/01/30 | 536,684 | ||
500,000 | Town of Upland, Revenue EDR, 4.000%, 09/01/43 | 448,954 | ||
500,000 | Troy Capital Resource Corp., Revenue, 5.000%, 09/01/30 | 553,904 |
Principal Amount | Market Value | |||
Fixed Rate Revenue Bonds – 77.3% (Continued) | ||||
$ 620,000 | Walton County District School Board, COP, 5.000%, 07/01/25 | $ 634,545 | ||
500,000 | Wisconsin Health & Educational Fac. Auth., Revenue, 5.000%, 03/15/53 | 483,455 | ||
500,000 | Wisconsin Health & Educational Fac. Auth., Revenue Ser B, 5.250%, 12/01/48 | 530,165 | ||
240,000 | Yamhill County, OR, Revenue, 4.000%, 12/01/41 | 231,073 | ||
Total Fixed Rate Revenue Bonds | $41,057,232 | |||
General Obligation Bonds – 20.5% | ||||
500,000 | Albuquerque Municipal School District No 12, UTGO Ser A, 5.000%, 08/01/35 | 562,944 | ||
500,000 | Chicago Board of Education, UTGO, 4.000%, 12/01/47 | 437,266 | ||
500,000 | Chicago, IL, UTGO Ser A, 5.000%, 01/01/34 | 546,220 | ||
500,000 | Commonwealth of Massachusetts, LTGO Ser A, 5.000%, 05/01/53 | 546,118 | ||
505,000 | Ecorse Public School District, UTGO, 5.000%, 05/01/27 | 541,696 | ||
150,000 | Gold Hill Mesa Metropolitan District No 2, LTGO Ser A, 5.000%, 12/01/29 | 164,561 | ||
500,000 | Grand Rapids Public Schools, UTGO, 5.000%, 05/01/25 | 513,802 | ||
500,000 | Hudsonville Public Schools, UTGO, 5.000%, 05/01/53 | 530,655 | ||
500,000 | Indianapolis Board of School Commissioners, LTGO, 5.000%, 07/15/24 | 508,354 | ||
500,000 | Jackson, MS, UTGO, 5.000%, 03/01/28 | 516,559 | ||
610,000 | Milwaukee, WI, UTGO Ser N3, 5.000%, 04/01/29 | 668,576 | ||
500,000 | North Pine Vistas Metropolitan District No 2, LTGO, 5.250%, 12/01/42 | 548,681 | ||
450,000 | School District of Philadelphia/The, LTGO Ser B, 5.000%, 09/01/30 | 499,422 | ||
440,000 | School District of Philadelphia/The, LTGO Ser D, 5.000%, 09/01/25 | 454,238 | ||
500,000 | St Louis, MO, UTGO Ser A, 5.000%, 02/15/43 | 539,127 | ||
500,000 | State of Illinois, UTGO Ser B, 5.500%, 05/01/47 | 542,908 | ||
500,000 | Sterling Heights, MI, LTGO, 5.000%, 04/01/29 | 556,897 | ||
1,000,000 | Toledo, OH, LTGO, 4.000%, 12/01/35 | 1,030,336 | ||
500,000 | Whispering Pines Metropolitan District No 1, LTGO, 5.000%, 12/01/52 | 513,717 | ||
650,000 | Wichita Falls Independent School District, UTGO, 4.000%, 02/01/26 | 664,803 | ||
Total General Obligation Bonds | $10,886,880 |
Shares | Market Value | |||
Short-Term Investment Fund — 2.5% | ||||
1,309,491 | Dreyfus Government Cash Management Institutional Shares, 5.00%∞Ω | $ 1,309,491 | ||
Total Investment Securities—100.3% (Cost $54,788,107) | $53,253,603 | |||
Liabilities in Excess of Other Assets — (0.3%) | $(167,971) | |||
Net Assets — 100.0% | $53,085,632 |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2023. |
Portfolio Abbreviations: |
COP–Certificates of Participation |
EDR–Economic Development Revenue |
LTGO–Limited Tax General Obligation |
UTGO–Unlimited Tax General Obligation |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Municipal Bonds | $— | $51,944,112 | $— | $51,944,112 |
Short-Term Investment Fund | 1,309,491 | — | — | 1,309,491 |
Total | $1,309,491 | $51,944,112 | $— | $53,253,603 |
Shares | Market Value | |||
Common Stocks — 90.8% | ||||
France — 20.1% | ||||
Communication Services — 2.5% | ||||
142,000 | JCDecaux SE* | $ 2,830,650 | ||
Consumer Discretionary — 7.8% | ||||
100,500 | Accor SA | 3,739,748 | ||
113,100 | Cie Generale des Etablissements Michelin SCA | 3,345,649 | ||
1,900 | LVMH Moet Hennessy Louis Vuitton SE | 1,791,533 | ||
Consumer Staples — 1.5% | ||||
8,100 | Pernod Ricard SA | 1,789,895 | ||
Energy — 3.1% | ||||
61,100 | TotalEnergies SE | 3,507,423 | ||
Financials — 2.5% | ||||
42,500 | Edenred | 2,846,835 | ||
Health Care — 2.7% | ||||
29,000 | Sanofi | 3,122,018 | ||
Total France | 22,973,751 | |||
United Kingdom — 12.6% | ||||
Communication Services — 1.7% | ||||
285,600 | Rightmove PLC | 1,897,313 | ||
Health Care — 3.4% | ||||
1,497,049 | ConvaTec Group PLC, 144a | 3,904,410 | ||
Industrials — 4.8% | ||||
52,500 | Bunzl PLC | 2,000,674 | ||
178,300 | Howden Joinery Group PLC | 1,456,778 | ||
522,000 | Rotork PLC | 2,022,566 | ||
Information Technology — 1.9% | ||||
47,900 | Spectris PLC | 2,188,583 | ||
Real Estate — 0.8% | ||||
86,900 | Savills PLC | 939,189 | ||
Total United Kingdom | 14,409,513 | |||
Switzerland — 10.4% | ||||
Consumer Staples — 2.6% | ||||
25,000 | Nestle SA | 3,007,290 | ||
Health Care — 7.8% | ||||
31,300 | Alcon, Inc. | 2,596,723 | ||
32,500 | Novartis AG | 3,276,632 | ||
9,700 | Roche Holding AG | 2,963,059 | ||
Total Switzerland | 11,843,704 | |||
Germany — 9.2% | ||||
Communication Services — 1.0% | ||||
18,500 | Scout24 SE, 144a | 1,172,266 | ||
Health Care — 2.1% | ||||
87,900 | Fresenius SE & Co. KGaA | 2,438,062 | ||
Industrials — 1.9% | ||||
27,900 | Brenntag SE | 2,176,705 | ||
Information Technology — 2.1% | ||||
17,100 | SAP SE | 2,335,987 | ||
Materials — 2.1% | ||||
76,400 | FUCHS PETROLUB SE | 2,449,041 | ||
Total Germany | 10,572,061 | |||
United States — 5.3% | ||||
Health Care — 3.3% | ||||
42,800 | Medtronic PLC | 3,770,680 |
Shares | Market Value | |||
United States — (Continued) | ||||
Industrials — 2.0% | ||||
58,300 | Experian PLC | $ 2,237,612 | ||
Total United States | 6,008,292 | |||
Canada — 4.4% | ||||
Materials — 4.4% | ||||
43,300 | Agnico Eagle Mines Ltd. | 2,162,140 | ||
169,300 | Barrick Gold Corp. | 2,863,946 | ||
Total Canada | 5,026,086 | |||
Japan — 4.3% | ||||
Consumer Discretionary — 2.2% | ||||
153,400 | USS Co. Ltd. | 2,539,643 | ||
Industrials — 2.1% | ||||
66,500 | FANUC Corp. | 2,334,525 | ||
Total Japan | 4,874,168 | |||
Netherlands — 4.3% | ||||
Health Care — 2.9% | ||||
151,112 | Koninklijke Philips NV* | 3,274,243 | ||
Information Technology — 1.4% | ||||
2,200 | ASML Holding NV | 1,595,723 | ||
Total Netherlands | 4,869,966 | |||
Mexico — 3.7% | ||||
Communication Services — 1.8% | ||||
873,398 | Megacable Holdings SAB de CV | 2,023,658 | ||
Consumer Staples — 1.9% | ||||
1,007,500 | Kimberly-Clark de Mexico SAB de CV - Class A | 2,247,849 | ||
Total Mexico | 4,271,507 | |||
Hong Kong — 2.7% | ||||
Consumer Discretionary — 2.7% | ||||
479,000 | Galaxy Entertainment Group Ltd.* | 3,051,574 | ||
Greece — 2.4% | ||||
Consumer Discretionary — 2.4% | ||||
156,000 | OPAP SA | 2,720,375 | ||
Brazil — 2.0% | ||||
Financials — 2.0% | ||||
243,800 | Pagseguro Digital Ltd. - Class A* | 2,301,472 | ||
South Korea — 1.9% | ||||
Information Technology — 1.9% | ||||
39,700 | Samsung Electronics Co. Ltd. | 2,186,012 | ||
Norway — 1.9% | ||||
Energy — 1.9% | ||||
142,900 | TGS ASA | 2,129,333 | ||
India — 1.5% | ||||
Communication Services — 1.5% | ||||
855,900 | Indus Towers Ltd.* | 1,717,452 | ||
Taiwan — 1.5% | ||||
Information Technology — 1.5% | ||||
16,900 | Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 1,705,548 | ||
Spain — 1.4% | ||||
Industrials — 1.4% | ||||
41,800 | Befesa SA, 144a | 1,597,433 |
Shares | Market Value | |||
Common Stocks — 90.8% (Continued) | ||||
Tanzania — 1.1% | ||||
Communication Services — 1.1% | ||||
1,110,000 | Helios Towers PLC* | $ 1,312,431 | ||
China — 0.1% | ||||
Consumer Discretionary — 0.1% | ||||
5,190 | Meituan - Class B, 144a* | 81,384 | ||
Total Common Stocks | $103,652,062 | |||
Short-Term Investment Fund — 8.8% | ||||
10,067,608 | Dreyfus Government Cash Management, Institutional Shares, 5.00%∞Ω | 10,067,608 | ||
Total Investment Securities — 99.6% (Cost $99,570,186) | $113,719,670 | |||
Other Assets in Excess of Liabilities — 0.4% | 457,626 | |||
Net Assets — 100.0% | $114,177,296 |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2023. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
PLC – Public Limited Company |
144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2023, these securities were valued at $6,755,493 or 5.9% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. |
Valuation inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | ||||
France | $— | $22,973,751 | $— | $22,973,751 |
United Kingdom | 939,189 | 13,470,324 | — | 14,409,513 |
Switzerland | — | 11,843,704 | — | 11,843,704 |
Germany | — | 10,572,061 | — | 10,572,061 |
United States | 3,770,680 | 2,237,612 | — | 6,008,292 |
Canada | 5,026,086 | — | — | 5,026,086 |
Japan | — | 4,874,168 | — | 4,874,168 |
Netherlands | — | 4,869,966 | — | 4,869,966 |
Mexico | 4,271,507 | — | — | 4,271,507 |
Hong Kong | — | 3,051,574 | — | 3,051,574 |
Greece | — | 2,720,375 | — | 2,720,375 |
Brazil | 2,301,472 | — | — | 2,301,472 |
South Korea | — | 2,186,012 | — | 2,186,012 |
Norway | — | 2,129,333 | — | 2,129,333 |
India | — | 1,717,452 | — | 1,717,452 |
Taiwan | 1,705,548 | — | — | 1,705,548 |
Spain | — | 1,597,433 | — | 1,597,433 |
Tanzania | 1,312,431 | — | — | 1,312,431 |
China | — | 81,384 | — | 81,384 |
Short-Term Investment Fund | 10,067,608 | — | — | 10,067,608 |
Total | $29,394,521 | $84,325,149 | $— | $113,719,670 |
Shares | Market Value | |||
Common Stocks — 99.9% | ||||
India — 14.5% | ||||
Financials — 10.8% | ||||
48,620 | HDFC Bank Ltd. ADR | $ 3,388,814 | ||
137,690 | ICICI Bank Ltd. ADR | 3,177,885 | ||
Information Technology — 3.7% | ||||
21,900 | LTIMindtree Ltd., 144a | 1,393,066 | ||
21,545 | Tata Consultancy Services Ltd. | 870,576 | ||
Total India | 8,830,341 | |||
United Kingdom — 12.9% | ||||
Consumer Discretionary — 3.3% | ||||
127,015 | Entain PLC | 2,053,805 | ||
Health Care — 6.2% | ||||
26,270 | AstraZeneca PLC | 3,765,917 | ||
Information Technology — 3.4% | ||||
23,650 | Endava PLC ADR* | 1,224,833 | ||
54,740 | Kainos Group PLC | 856,484 | ||
Total United Kingdom | 7,901,039 | |||
United States — 11.7% | ||||
Information Technology — 11.7% | ||||
5,220 | Accenture PLC - Class A | 1,610,788 | ||
8,865 | Arista Networks, Inc.* | 1,436,662 | ||
4,365 | Microsoft Corp. | 1,486,457 | ||
6,115 | NVIDIA Corp. | 2,586,767 | ||
Total United States | 7,120,674 | |||
Switzerland — 8.4% | ||||
Consumer Staples — 3.0% | ||||
60,860 | Coca-Cola HBC AG | 1,815,446 | ||
Health Care — 5.4% | ||||
24,230 | Alcon, Inc. | 2,010,179 | ||
8,070 | Straumann Holding AG | 1,312,231 | ||
Total Switzerland | 5,137,856 | |||
Canada — 7.3% | ||||
Consumer Discretionary — 3.8% | ||||
34,250 | Dollarama, Inc. | 2,319,615 | ||
Industrials — 3.5% | ||||
68,370 | CAE, Inc.* | 1,530,229 | ||
7,760 | Canadian Pacific Kansas City Ltd. | 626,775 | ||
Total Canada | 4,476,619 | |||
France — 6.4% | ||||
Information Technology — 6.4% | ||||
20,680 | Capgemini SE | 3,915,604 | ||
Germany — 5.5% | ||||
Communication Services — 2.2% | ||||
27,940 | Stroeer SE & Co. KGaA | 1,357,399 | ||
Information Technology — 3.3% | ||||
14,690 | SAP SE | 2,006,763 | ||
Total Germany | 3,364,162 | |||
Israel — 4.9% | ||||
Information Technology — 4.9% | ||||
14,420 | Nice Ltd. ADR* | 2,977,730 | ||
Netherlands — 4.9% | ||||
Information Technology — 4.9% | ||||
4,084 | ASML Holding NV | 2,962,242 |
Shares | Market Value | |||
Sweden — 4.6% | ||||
Consumer Discretionary — 4.6% | ||||
22,125 | Evolution AB, 144a | $ 2,803,764 | ||
Spain — 4.6% | ||||
Consumer Discretionary — 1.6% | ||||
12,420 | Amadeus IT Group SA* | 945,788 | ||
Health Care — 3.0% | ||||
143,410 | Grifols SA* | 1,839,782 | ||
Total Spain | 2,785,570 | |||
Argentina — 3.6% | ||||
Information Technology — 3.6% | ||||
12,210 | Globant SA* | 2,194,381 | ||
Taiwan — 2.9% | ||||
Information Technology — 2.9% | ||||
17,380 | Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 1,753,990 | ||
Singapore — 2.8% | ||||
Financials — 2.8% | ||||
72,500 | DBS Group Holdings Ltd. | 1,693,077 | ||
Indonesia — 2.1% | ||||
Financials — 2.1% | ||||
3,676,600 | Bank Mandiri Persero Tbk PT | 1,279,484 | ||
Italy — 1.7% | ||||
Financials — 1.7% | ||||
134,530 | Nexi SpA, 144a* | 1,055,491 | ||
Poland — 1.1% | ||||
Consumer Staples — 1.1% | ||||
5,950 | Dino Polska SA, 144a* | 695,159 | ||
Total Common Stocks | $60,947,183 | |||
Short-Term Investment Fund — 0.2% | ||||
105,997 | Dreyfus Government Cash Management, Institutional Shares, 5.00%∞Ω | 105,997 | ||
Total Investment Securities — 100.1% (Cost $54,732,658) | $61,053,180 | |||
Liabilities in Excess of Other Assets — (0.1)% | (52,488) | |||
Net Assets — 100.0% | $61,000,692 |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2023. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
PLC – Public Limited Company |
144a - This is a restricted security that was sold in a transaction qualifying for the exemption under Rule 144a of the Securities Act of 1933. This security may be sold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2023, these securities were valued at $5,947,480 or 9.7% of net assets. These securities were deemed liquid pursuant to procedures approved by the Board of Trustees. |
Valuation inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | ||||
India | $6,566,699 | $2,263,642 | $— | $8,830,341 |
United Kingdom | 2,081,317 | 5,819,722 | — | 7,901,039 |
United States | 7,120,674 | — | — | 7,120,674 |
Switzerland | — | 5,137,856 | — | 5,137,856 |
Canada | 4,476,619 | — | — | 4,476,619 |
France | — | 3,915,604 | — | 3,915,604 |
Germany | — | 3,364,162 | — | 3,364,162 |
Israel | 2,977,730 | — | — | 2,977,730 |
Netherlands | — | 2,962,242 | — | 2,962,242 |
Sweden | — | 2,803,764 | — | 2,803,764 |
Spain | — | 2,785,570 | — | 2,785,570 |
Argentina | 2,194,381 | — | — | 2,194,381 |
Taiwan | 1,753,990 | — | — | 1,753,990 |
Singapore | — | 1,693,077 | — | 1,693,077 |
Indonesia | — | 1,279,484 | — | 1,279,484 |
Italy | — | 1,055,491 | — | 1,055,491 |
Poland | — | 695,159 | — | 695,159 |
Short-Term Investment Fund | 105,997 | — | — | 105,997 |
Total | $27,277,407 | $33,775,773 | $— | $61,053,180 |
Shares | Market Value | |||
Common Stocks — 94.3% | ||||
Information Technology — 25.9% | ||||
1,192,750 | Apple, Inc. | $ 231,357,717 | ||
278,071 | International Business Machines Corp. | 37,208,681 | ||
757,177 | Microsoft Corp. | 257,849,056 | ||
617,212 | Oracle Corp. | 73,503,777 | ||
308,967 | Salesforce, Inc.* | 65,272,368 | ||
315,055 | Texas Instruments, Inc. | 56,716,201 | ||
174,337 | Workday, Inc. - Class A* | 39,380,985 | ||
761,288,785 | ||||
Health Care — 15.3% | ||||
348,761 | AmerisourceBergen Corp. | 67,112,079 | ||
542,780 | BioMarin Pharmaceutical, Inc.* | 47,048,170 | ||
615,801 | Bristol-Myers Squibb Co. | 39,380,474 | ||
244,688 | HCA Healthcare, Inc. | 74,257,914 | ||
517,873 | Johnson & Johnson | 85,718,339 | ||
573,684 | Medtronic PLC | 50,541,561 | ||
179,842 | UnitedHealth Group, Inc. | 86,439,259 | ||
450,497,796 | ||||
Financials — 13.3% | ||||
1,968,763 | Bank of America Corp. | 56,483,811 | ||
386,061 | Berkshire Hathaway, Inc. - Class B* | 131,646,801 | ||
193,410 | Goldman Sachs Group, Inc. (The) | 62,382,461 | ||
33,943 | Markel Group, Inc.* | 46,949,279 | ||
341,804 | PayPal Holdings, Inc.* | 22,808,581 | ||
292,038 | Visa, Inc. - Class A | 69,353,184 | ||
389,624,117 | ||||
Communication Services — 13.0% | ||||
1,176,146 | Alphabet, Inc. - Class C* | 142,278,382 | ||
1,011,459 | AT&T, Inc. | 16,132,771 | ||
1,046,326 | Comcast Corp. - Class A | 43,474,845 | ||
246,424 | Fox Corp. - Class A | 8,378,416 | ||
387,355 | Meta Platforms, Inc. - Class A* | 111,163,138 | ||
90,837 | Netflix, Inc.* | 40,012,790 | ||
236,159 | Walt Disney Co. (The)* | 21,084,276 | ||
382,524,618 | ||||
Industrials — 8.8% | ||||
197,301 | Boeing Co. (The)* | 41,662,079 | ||
94,428 | FedEx Corp. | 23,408,701 | ||
151,490 | Hubbell, Inc. | 50,228,025 | ||
545,667 | Raytheon Technologies Corp. | 53,453,539 | ||
820,086 | Southwest Airlines Co. | 29,695,314 | ||
571,750 | SS&C Technologies Holdings, Inc. | 34,648,050 | ||
254,999 | Stanley Black & Decker, Inc. | 23,895,956 | ||
256,991,664 | ||||
Consumer Discretionary — 7.9% | ||||
222,780 | Airbnb, Inc. - Class A* | 28,551,485 | ||
180,099 | Alibaba Group Holding Ltd. (China) ADR* | 15,011,252 | ||
955,520 | Amazon.com, Inc.* | 124,561,587 |
Shares | Market Value | |||
Consumer Discretionary — (Continued) | ||||
206,817 | Hilton Worldwide Holdings, Inc. | $ 30,102,214 | ||
327,273 | Starbucks Corp. | 32,419,663 | ||
230,646,201 | ||||
Consumer Staples — 4.0% | ||||
1,047,244 | Monster Beverage Corp.* | 60,153,695 | ||
594,112 | Philip Morris International, Inc. | 57,997,214 | ||
118,150,909 | ||||
Energy — 3.6% | ||||
614,529 | Exxon Mobil Corp. | 65,908,235 | ||
801,837 | Schlumberger NV | 39,386,234 | ||
105,294,469 | ||||
Materials — 1.5% | ||||
613,323 | DuPont de Nemours, Inc. | 43,815,795 | ||
Real Estate — 1.0% | ||||
188,994 | Jones Lang LaSalle, Inc.* | 29,445,265 | ||
Total Common Stocks | $2,768,279,619 | |||
Short-Term Investment Fund — 5.7% | ||||
167,061,847 | Dreyfus Government Cash Management, Institutional Shares, 5.00%∞Ω | 167,061,847 | ||
Total Investment Securities—100.0% (Cost $1,765,262,520) | $2,935,341,466 | |||
Other Assets in Excess of Liabilities — 0.0% | 380,492 | |||
Net Assets — 100.0% | $2,935,721,958 |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2023. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
PLC – Public Limited Company |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $2,768,279,619 | $— | $— | $2,768,279,619 |
Short-Term Investment Fund | 167,061,847 | — | — | 167,061,847 |
Total | $2,935,341,466 | $— | $— | $2,935,341,466 |
Shares | Market Value | |||
Common Stocks — 98.6% | ||||
Financials — 24.1% | ||||
49,447 | Berkshire Hathaway, Inc. - Class B* | $ 16,861,427 | ||
16,794 | BlackRock, Inc. | 11,607,005 | ||
148,955 | Charles Schwab Corp. (The) | 8,442,770 | ||
73,586 | Fiserv, Inc.* | 9,282,874 | ||
68,809 | Progressive Corp. (The) | 9,108,247 | ||
44,942 | Visa, Inc. - Class A | 10,672,826 | ||
65,975,149 | ||||
Consumer Discretionary — 14.0% | ||||
63,617 | CarMax, Inc.* | 5,324,743 | ||
30,289 | Home Depot, Inc. (The) | 9,408,975 | ||
25,953 | Lowe's Cos., Inc. | 5,857,592 | ||
8,876 | O'Reilly Automotive, Inc.* | 8,479,243 | ||
93,500 | Starbucks Corp. | 9,262,110 | ||
38,332,663 | ||||
Information Technology — 13.4% | ||||
106,247 | Apple, Inc. | 20,608,731 | ||
118,911 | Cisco Systems, Inc. | 6,152,455 | ||
54,588 | Texas Instruments, Inc. | 9,826,932 | ||
36,588,118 | ||||
Materials — 13.2% | ||||
26,226 | Air Products & Chemicals, Inc. | 7,855,474 | ||
39,721 | Albemarle Corp. | 8,861,358 | ||
26,343 | Martin Marietta Materials, Inc. | 12,162,299 | ||
18,289 | NewMarket Corp. | 7,354,373 | ||
36,233,504 | ||||
Industrials — 12.1% | ||||
35,976 | FedEx Corp. | 8,918,450 | ||
35,967 | Norfolk Southern Corp. | 8,155,877 | ||
21,258 | Old Dominion Freight Line, Inc. | 7,860,146 | ||
53,237 | Republic Services, Inc. | 8,154,311 | ||
33,088,784 | ||||
Consumer Staples — 9.1% | ||||
182,196 | Altria Group, Inc. | 8,253,479 | ||
84,512 | Church & Dwight Co., Inc. | 8,470,638 | ||
68,869 | Nestle SA (Switzerland) ADR | 8,288,384 | ||
25,012,501 |
Shares | Market Value | |||
Communication Services — 5.4% | ||||
122,879 | Alphabet, Inc. - Class C* | $ 14,864,673 | ||
Health Care — 4.3% | ||||
41,940 | Johnson & Johnson | 6,941,908 | ||
128,860 | Pfizer, Inc. | 4,726,585 | ||
11,668,493 | ||||
Energy — 3.0% | ||||
52,900 | Chevron Corp. | 8,323,815 | ||
Total Common Stocks | $270,087,700 | |||
Short-Term Investment Fund — 1.4% | ||||
3,756,115 | Dreyfus Government Cash Management, Institutional Shares, 5.00%∞Ω | 3,756,115 | ||
Total Investment Securities—100.0% (Cost $168,230,286) | $273,843,815 | |||
Other Assets in Excess of Liabilities — 0.0% | 5,677 | |||
Net Assets — 100.0% | $273,849,492 |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2023. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $270,087,700 | $— | $— | $270,087,700 |
Short-Term Investment Fund | 3,756,115 | — | — | 3,756,115 |
Total | $273,843,815 | $— | $— | $273,843,815 |
Shares | Market Value | |||
Common Stocks — 98.8% | ||||
Information Technology — 55.0% | ||||
21,943 | Accenture PLC - Class A | $ 6,771,171 | ||
16,730 | Adobe, Inc.* | 8,180,803 | ||
35,424 | Arista Networks, Inc.* | 5,740,814 | ||
8,343 | ASML Holding NV (Netherlands) | 6,046,589 | ||
25,717 | Autodesk, Inc.* | 5,261,955 | ||
24,948 | Entegris, Inc. | 2,764,737 | ||
21,611 | EPAM Systems, Inc.* | 4,857,072 | ||
14,278 | Intuit, Inc. | 6,542,037 | ||
56,333 | Microsoft Corp. | 19,183,640 | ||
23,799 | NVIDIA Corp. | 10,067,453 | ||
19,006 | SolarEdge Technologies, Inc.* | 5,113,564 | ||
80,529,835 | ||||
Financials — 17.4% | ||||
38,541 | Charles Schwab Corp. (The) | 2,184,504 | ||
31,814 | Fiserv, Inc.* | 4,013,336 | ||
15,743 | FleetCor Technologies, Inc.* | 3,952,752 | ||
7,123 | Mastercard, Inc. - Class A | 2,801,476 | ||
75,370 | PayPal Holdings, Inc.* | 5,029,440 | ||
31,908 | Visa, Inc. - Class A | 7,577,512 | ||
25,559,020 | ||||
Health Care — 7.4% | ||||
43,809 | AstraZeneca PLC (United Kingdom) ADR | 3,135,410 | ||
65,409 | Boston Scientific Corp.* | 3,537,973 | ||
25,177 | Neurocrine Biosciences, Inc.* | 2,374,191 | ||
3,328 | Thermo Fisher Scientific, Inc. | 1,736,384 | ||
10,783,958 | ||||
Consumer Discretionary — 7.2% | ||||
80,958 | Amazon.com, Inc.* | 10,553,685 | ||
Communication Services — 6.2% | ||||
76,150 | Alphabet, Inc. - Class A* | 9,115,155 | ||
Materials — 2.0% | ||||
7,833 | Linde PLC | 2,985,000 |
Shares | Market Value | |||
Consumer Staples — 1.9% | ||||
48,242 | Monster Beverage Corp.* | $ 2,771,021 | ||
Industrials — 1.7% | ||||
11,199 | Automatic Data Processing, Inc. | 2,461,428 | ||
Total Common Stocks | $144,759,102 | |||
Short-Term Investment Fund — 2.0% | ||||
2,897,320 | Dreyfus Government Cash Management, Institutional Shares, 5.00%∞Ω | 2,897,320 | ||
Total Investment Securities—100.8% (Cost $105,786,188) | $147,656,422 | |||
Liabilities in Excess of Other Assets — (0.8%) | (1,132,925) | |||
Net Assets — 100.0% | $146,523,497 |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2023. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
PLC – Public Limited Company |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $144,759,102 | $— | $— | $144,759,102 |
Short-Term Investment Fund | 2,897,320 | — | — | 2,897,320 |
Total | $147,656,422 | $— | $— | $147,656,422 |
Shares | Market Value | |||
Common Stocks — 97.8% | ||||
Industrials — 21.9% | ||||
150,692 | ASGN, Inc.* | $ 11,396,836 | ||
77,135 | Clean Harbors, Inc. * | 12,683,308 | ||
157,667 | Crane Co. | 14,051,283 | ||
218,627 | Crane NXT Co. | 12,339,308 | ||
70,958 | Curtiss-Wright Corp. | 13,032,146 | ||
64,827 | EMCOR Group, Inc. | 11,978,733 | ||
121,148 | ESCO Technologies, Inc. | 12,554,567 | ||
74,707 | ExlService Holdings, Inc.* | 11,285,239 | ||
203,039 | Federal Signal Corp. | 13,000,587 | ||
209,702 | ITT, Inc. | 19,546,324 | ||
277,819 | KBR, Inc. | 18,074,904 | ||
258,301 | MAXIMUS, Inc. | 21,829,018 | ||
177,430 | WNS Holdings Ltd. (India) ADR* | 13,080,140 | ||
485,454 | Zurn Elkay Water Solutions Corp. | 13,053,858 | ||
197,906,251 | ||||
Health Care — 16.7% | ||||
152,550 | Bio-Techne Corp. | 12,452,656 | ||
552,356 | Certara, Inc.* | 10,058,403 | ||
21,490 | Chemed Corp. | 11,640,488 | ||
191,272 | Encompass Health Corp. | 12,951,027 | ||
185,876 | Ensign Group, Inc. (The) | 17,743,723 | ||
214,637 | Globus Medical, Inc. - Class A* | 12,779,487 | ||
140,014 | Merit Medical Systems, Inc.* | 11,710,771 | ||
747,947 | NextGen Healthcare, Inc.* | 12,131,700 | ||
441,874 | Premier, Inc. - Class A | 12,222,235 | ||
306,473 | Progyny, Inc.* | 12,056,648 | ||
148,687 | QuidelOrtho Corp.* | 12,320,205 | ||
1,058,876 | Veradigm, Inc.* | 13,341,838 | ||
151,409,181 | ||||
Consumer Discretionary — 15.4% | ||||
375,856 | Frontdoor, Inc.* | 11,989,806 | ||
410,380 | Gentex Corp. | 12,007,719 | ||
119,905 | Grand Canyon Education, Inc.* | 12,375,395 | ||
1,781,360 | Leslie's, Inc.* | 16,726,970 | ||
197,763 | Malibu Boats, Inc. - Class A* | 11,600,778 | ||
121,023 | Oxford Industries, Inc. | 11,911,084 | ||
189,957 | Skyline Champion Corp.* | 12,432,686 | ||
575,654 | Steven Madden Ltd. | 18,818,129 | ||
105,150 | Texas Roadhouse, Inc. | 11,806,242 | ||
45,207 | TopBuild Corp.* | 12,025,966 | ||
440,855 | Zumiez, Inc.* | 7,344,644 | ||
139,039,419 | ||||
Information Technology — 14.5% | ||||
115,389 | Advanced Energy Industries, Inc. | 12,860,104 | ||
638,237 | Box, Inc. - Class A* | 18,751,403 | ||
1,712,750 | CCC Intelligent Solutions Holdings, Inc.* | 19,199,927 | ||
174,755 | CommVault Systems, Inc.* | 12,690,708 | ||
315,907 | Digi International, Inc.* | 12,443,577 | ||
164,117 | Onto Innovation, Inc.* | 19,114,707 | ||
90,690 | Qualys, Inc.* | 11,714,427 | ||
64,896 | SPS Commerce, Inc.* | 12,463,926 | ||
342,245 | Verint Systems, Inc.* | 11,999,110 | ||
131,237,889 | ||||
Real Estate — 10.3% | ||||
182,017 | Agree Realty Corp. REIT | 11,902,092 | ||
783,780 | Apple Hospitality REIT, Inc. | 11,842,916 | ||
126,874 | Colliers International Group, Inc. (Canada) | 12,457,758 |
Shares | Market Value | |||
Real Estate — (Continued) | ||||
838,545 | Corporate Office Properties Trust REIT | $ 19,915,444 | ||
612,561 | Healthcare Realty Trust, Inc. REIT | 11,552,900 | ||
587,677 | Kite Realty Group Trust REIT | 13,128,704 | ||
334,869 | STAG Industrial, Inc. REIT | 12,015,100 | ||
92,814,914 | ||||
Financials — 9.3% | ||||
99,240 | Evercore, Inc. - Class A | 12,265,071 | ||
1,638,781 | FNB Corp. | 18,747,655 | ||
519,002 | Home BancShares, Inc. | 11,833,245 | ||
568,923 | Pacific Premier Bancorp, Inc. | 11,765,328 | ||
181,475 | SouthState Corp. | 11,941,055 | ||
466,100 | Webster Financial Corp. | 17,595,275 | ||
84,147,629 | ||||
Materials — 4.1% | ||||
132,208 | Ashland, Inc. | 11,490,198 | ||
69,712 | Eagle Materials, Inc. | 12,995,711 | ||
260,153 | Silgan Holdings, Inc. | 12,198,574 | ||
36,684,483 | ||||
Energy — 2.9% | ||||
300,800 | Cactus, Inc. - Class A | 12,729,856 | ||
423,917 | ChampionX Corp. | 13,158,384 | ||
25,888,240 | ||||
Communication Services — 2.7% | ||||
577,341 | Cargurus, Inc.* | 13,065,227 | ||
163,811 | Ziff Davis, Inc.* | 11,476,598 | ||
24,541,825 | ||||
Total Common Stocks | $883,669,831 | |||
Short-Term Investment Fund — 2.9% | ||||
26,082,439 | Dreyfus Government Cash Management, Institutional Shares, 5.00%∞Ω | 26,082,439 | ||
Total Investment Securities—100.7% (Cost $724,972,822) | $909,752,270 | |||
Liabilities in Excess of Other Assets — (0.7%) | (6,335,421) | |||
Net Assets — 100.0% | $903,416,849 |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2023. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
REIT – Real Estate Investment Trust |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $883,669,831 | $— | $— | $883,669,831 |
Short-Term Investment Fund | 26,082,439 | — | — | 26,082,439 |
Total | $909,752,270 | $— | $— | $909,752,270 |
Shares | Market Value | |||
Common Stocks — 98.9% | ||||
Financials — 18.1% | ||||
46,738 | American Express Co. | $ 8,141,760 | ||
164,959 | American International Group, Inc. | 9,491,741 | ||
283,629 | Fidelity National Information Services, Inc. | 15,514,506 | ||
93,806 | M&T Bank Corp. | 11,609,430 | ||
82,594 | Northern Trust Corp. | 6,123,519 | ||
78,193 | The Allstate Corp. | 8,526,165 | ||
240,042 | US Bancorp | 7,930,988 | ||
357,496 | Wells Fargo & Co. | 15,257,929 | ||
30,540 | Willis Towers Watson PLC | 7,192,170 | ||
89,788,208 | ||||
Health Care — 14.9% | ||||
383,963 | Avantor, Inc.* | 7,886,600 | ||
135,339 | CVS Health Corp. | 9,355,985 | ||
31,273 | Elevance Health, Inc. | 13,894,281 | ||
97,836 | Medtronic PLC | 8,619,352 | ||
127,080 | Merck & Co., Inc. | 14,663,761 | ||
211,058 | Perrigo Co. PLC | 7,165,419 | ||
25,236 | UnitedHealth Group, Inc. | 12,129,431 | ||
73,714,829 | ||||
Industrials — 11.2% | ||||
96,424 | AECOM | 8,166,148 | ||
80,543 | JB Hunt Transport Services, Inc. | 14,580,699 | ||
258,688 | Southwest Airlines Co. | 9,367,092 | ||
72,425 | Stanley Black & Decker, Inc. | 6,786,947 | ||
680,483 | Vertiv Holdings Co. | 16,855,564 | ||
55,756,450 | ||||
Energy — 10.7% | ||||
172,184 | Enbridge, Inc. (Canada) | 6,396,635 | ||
384,318 | Halliburton Co. | 12,678,651 | ||
93,207 | Hess Corp. | 12,671,492 | ||
105,161 | Phillips 66 | 10,030,256 | ||
55,356 | Pioneer Natural Resources | 11,468,656 | ||
53,245,690 | ||||
Information Technology — 9.9% | ||||
18,765 | Broadcom, Inc. | 16,277,324 | ||
64,069 | Cognizant Technology Solutions Corp. - Class A | 4,182,424 | ||
91,129 | Oracle Corp. | 10,852,553 | ||
84,995 | QUALCOMM, Inc. | 10,117,805 | ||
68,176 | Skyworks Solutions, Inc. | 7,546,401 | ||
48,976,507 | ||||
Consumer Discretionary — 9.2% | ||||
123,394 | Aptiv PLC* | 12,597,294 | ||
268,126 | Aramark | 11,542,824 | ||
223,836 | Las Vegas Sands Corp.* | 12,982,488 | ||
28,135 | Lithia Motors, Inc. | 8,556,135 | ||
45,678,741 | ||||
Materials — 7.2% | ||||
53,618 | Air Products & Chemicals, Inc. | 16,060,200 | ||
325,172 | Axalta Coating Systems Ltd. * | 10,668,893 | ||
124,835 | DuPont de Nemours, Inc. | 8,918,212 | ||
35,647,305 |
Shares | Market Value | |||
Communication Services — 6.6% | ||||
67,601 | Alphabet, Inc. - Class A* | $ 8,091,840 | ||
396,487 | Comcast Corp. - Class A | 16,474,035 | ||
63,636 | Electronic Arts, Inc. | 8,253,589 | ||
32,819,464 | ||||
Consumer Staples — 5.9% | ||||
67,309 | Coca-Cola Europacific Partners PLC (United Kingdom) | 4,336,719 | ||
63,648 | Dollar General Corp. | 10,806,158 | ||
142,839 | Philip Morris International, Inc. | 13,943,943 | ||
29,086,820 | ||||
Real Estate — 2.6% | ||||
415,537 | VICI Properties, Inc. REIT | 13,060,328 | ||
Utilities — 2.6% | ||||
34,019 | Entergy Corp. | 3,312,430 | ||
118,863 | Pinnacle West Capital Corp. | 9,682,580 | ||
12,995,010 | ||||
Total Common Stocks | $490,769,352 | |||
Short-Term Investment Fund — 1.1% | ||||
5,549,096 | Dreyfus Government Cash Management, Institutional Shares, 5.00%∞Ω | 5,549,096 | ||
Total Investment Securities—100.0% (Cost $414,604,348) | $496,318,448 | |||
Other Assets in Excess of Liabilities — 0.0% | 99,577 | |||
Net Assets — 100.0% | $496,418,025 |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2023. |
Portfolio Abbreviations: |
PLC – Public Limited Company |
REIT – Real Estate Investment Trust |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $490,769,352 | $— | $— | $490,769,352 |
Short-Term Investment Fund | 5,549,096 | — | — | 5,549,096 |
Total | $496,318,448 | $— | $— | $496,318,448 |
Touchstone Balanced Fund | Touchstone Core Municipal Bond Fund | Touchstone International Equity Fund | Touchstone International Growth Fund | Touchstone Large Cap Focused Fund | Touchstone Large Cap Fund | |
Assets | ||||||
Investments, at cost | $672,647,567 | $54,788,107 | $99,570,186 | $54,732,658 | $1,765,262,520 | $168,230,286 |
Investments, at market value * | $811,508,549 | $53,253,603 | $113,719,670 | $61,053,180 | $2,935,341,466 | $273,843,815 |
Cash | — | — | 41 | — | — | — |
Cash deposits held at prime broker (A) | 1,200,623 | — | — | — | — | — |
Foreign currency † | 1,028 | — | 53,052 | 62,617 | — | — |
Dividends and interest receivable | 2,634,203 | 600,569 | 174,041 | 11,875 | 1,793,665 | 346,543 |
Receivable for capital shares sold | 2,036,390 | 4,371 | 109,425 | 1,045 | 2,534,378 | 655 |
Receivable for investments sold | 899,172 | 550,198 | — | — | 3,539,853 | — |
Receivable for securities lending income | 702 | — | — | — | — | — |
Tax reclaim receivable | 1,652 | — | 493,615 | 105,908 | — | — |
Other assets | 2,468 | 205 | 568 | 8,805 | 10,484 | 1,236 |
Total Assets | 818,284,787 | 54,408,946 | 114,550,412 | 61,243,430 | 2,943,219,846 | 274,192,249 |
Liabilities | ||||||
Due to custodian | 26,606 | — | — | — | 86 | — |
Dividends payable | 18 | 9,142 | — | — | — | — |
Payable for return of collateral for securities on loan | 1,390,875 | — | — | — | — | — |
Deferred foreign capital gains tax | — | — | — | 29,016 | — | — |
Payable for capital shares redeemed | 1,029,988 | 78,038 | 115,323 | 63,856 | 2,835,619 | 31,601 |
Payable for investments purchased | 1,244,359 | 1,147,091 | — | — | 1,445,773 | — |
Payable to Investment Adviser | 319,257 | 11,313 | 63,531 | 20,450 | 1,168,376 | 121,871 |
Payable to other affiliates | 263,035 | 8,767 | 36,688 | 8,410 | 740,721 | 34,002 |
Payable to Trustees | 19,751 | 19,751 | 19,751 | 19,751 | 19,751 | 19,751 |
Payable for professional services | 42,748 | 26,553 | 34,070 | 33,253 | 75,645 | 27,388 |
Payable for reports to shareholders | 18,110 | 5,166 | 9,325 | 14,100 | 33,949 | 9,496 |
Payable for transfer agent services | 385,123 | 11,120 | 82,563 | 46,714 | 1,146,043 | 93,037 |
Payable for variation margin on futures contracts | 67,656 | — | — | — | — | — |
Payable for variation margin on swap agreements | 285,448 | — | — | — | — | — |
Other accrued expenses and liabilities | 32,001 | 6,373 | 11,865 | 7,188 | 31,925 | 5,611 |
Total Liabilities | 5,124,975 | 1,323,314 | 373,116 | 242,738 | 7,497,888 | 342,757 |
Net Assets | $813,159,812 | $53,085,632 | $114,177,296 | $61,000,692 | $2,935,721,958 | $273,849,492 |
Net assets consist of: | ||||||
Paid-in capital | 682,095,333 | 55,879,750 | 172,802,655 | 68,703,581 | 1,753,795,249 | 164,743,095 |
Distributable earnings (deficit) | 131,064,479 | (2,794,118) | (58,625,359) | (7,702,889) | 1,181,926,709 | 109,106,397 |
Net Assets | $813,159,812 | $53,085,632 | $114,177,296 | $61,000,692 | $2,935,721,958 | $273,849,492 |
*Includes market value of securities on loan of: | $1,354,900 | $— | $— | $— | $— | $— |
†Cost of foreign currency: | $1,046 | $— | $52,801 | $62,595 | $— | $— |
(A) | Represents segregated cash for futures contracts and swap agreements. |
Touchstone Large Company Growth Fund | Touchstone Small Company Fund | Touchstone Value Fund |
$105,786,188 | $724,972,822 | $414,604,348 |
$147,656,422 | $909,752,270 | $496,318,448 |
— | — | 43 |
— | — | — |
— | 1,362 | — |
15,804 | 576,559 | 927,129 |
2,172 | 995,448 | 159,268 |
— | — | — |
— | 229 | — |
— | — | — |
4,596 | 3,062 | 1,934 |
147,678,994 | 911,328,930 | 497,406,822 |
— | 25 | — |
— | — | — |
— | — | — |
— | — | — |
101,245 | 1,227,371 | 372,787 |
867,220 | 5,428,086 | — |
64,964 | 452,600 | 229,507 |
18,298 | 216,242 | 93,805 |
19,751 | 19,751 | 19,751 |
25,117 | 38,764 | 32,147 |
5,568 | 23,816 | 13,937 |
41,855 | 491,805 | 220,774 |
— | — | — |
— | — | — |
11,479 | 13,621 | 6,089 |
1,155,497 | 7,912,081 | 988,797 |
$146,523,497 | $903,416,849 | $496,418,025 |
99,833,757 | 729,634,726 | 413,876,342 |
46,689,740 | 173,782,123 | 82,541,683 |
$146,523,497 | $903,416,849 | $496,418,025 |
$— | $— | $— |
$— | $1,414 | $— |
Touchstone Balanced Fund | Touchstone Core Municipal Bond Fund | Touchstone International Equity Fund | Touchstone International Growth Fund | Touchstone Large Cap Focused Fund | Touchstone Large Cap Fund | |
Pricing of Class A Shares | ||||||
Net assets applicable to Class A shares | $541,894,656 | $22,987,501 | $82,697,081 | $1,139,108 | $1,928,302,955 | $5,258,544 |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | 22,444,479 | 2,141,855 | 5,398,478 | 99,895 | 34,205,252 | 305,708 |
Net asset value price per share* | $24.14 | $10.73 | $15.32 | $11.40 | $56.37 | $17.20 |
Maximum sales charge - Class A shares | 5.00% | 3.25% | 5.00% | 5.00% | 5.00% | 5.00% |
Maximum offering price per share (100%/(100%-maximum sales charge) of net asset value adjusted to the nearest cent) - Class A shares | $25.41 | $11.09 | $16.13 | $12.00 | $59.34 | $18.11 |
Pricing of Class C Shares | ||||||
Net assets applicable to Class C shares | $73,893,136 | $1,027,818 | $2,326,893 | $696,520 | $50,450,821 | $2,036,002 |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | 3,055,479 | 95,812 | 166,518 | 64,162 | 998,761 | 121,676 |
Net asset value and offering price per share** | $24.18 | $10.73 | $13.97 | $10.86 | $50.51 | $16.73 |
Pricing of Class Y Shares | ||||||
Net assets applicable to Class Y shares | $197,244,506 | $2,636,733 | $25,323,563 | $47,314,943 | $670,688,157 | $206,213,859 |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | 8,248,145 | 245,291 | 1,673,447 | 4,024,007 | 11,897,819 | 11,976,773 |
Net asset value, offering price and redemption price per share | $23.91 | $10.75 | $15.13 | $11.76 | $56.37 | $17.22 |
Pricing of Institutional Class Shares | ||||||
Net assets applicable to Institutional Class shares | $— | $26,433,580 | $3,829,759 | $11,850,121 | $265,417,542 | $60,341,087 |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | — | 2,460,065 | 253,488 | 998,779 | 4,698,970 | 3,501,256 |
Net asset value, offering price and redemption price per share | $— | $10.75 | $15.11 | $11.86 | $56.48 | $17.23 |
Pricing of Class R6 Shares | ||||||
Net assets applicable to Class R6 shares | $127,514 | $— | $— | $— | $20,862,483 | $— |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | 5,335 | — | — | — | 369,073 | — |
Net asset value, offering price and redemption price per share | $23.90 | $— | $— | $— | $56.53 | $— |
^ | The Shares of beneficial interest outstanding and Net asset value and offering price per share were updated to reflect the effect of a 1 for 0.379048 reverse stock split for Class C shares on October 14, 2022 (See Note 9 in the Notes to Financial Statements). |
* | There is no sales load on subscriptions of $1 million or more for all funds except for Core Municipal Bond Fund. There is no sales load on subscriptions of $500,000 or more for Core Municipal Bond Fund. Redemptions that were part of a $500,000 or $1 million or more subscription, as applicable, may be subject to a contingent deferred sales load if redeemed within a one-year period from the date of purchase. |
** | Redemption price per share varies by length of time shares are held due to the terms of the contingent deferred sales charge. |
Touchstone Large Company Growth Fund | Touchstone Small Company Fund^ | Touchstone Value Fund |
$3,710,559 | $484,105,003 | $158,698,486 |
90,821 | 93,990,832 | 15,481,447 |
$40.86 | $5.15 | $10.25 |
5.00% | 5.00% | 5.00% |
$43.01 | $5.42 | $10.79 |
$223,122 | $15,991,556 | $3,721,257 |
5,879 | 3,136,717 | 364,279 |
$37.95 | $5.10 | $10.22 |
$7,266,186 | $312,719,787 | $85,516,110 |
173,679 | 52,735,866 | 8,296,722 |
$41.84 | $5.93 | $10.31 |
$135,323,630 | $24,638,104 | $222,825,140 |
3,202,890 | 4,149,922 | 21,703,361 |
$42.25 | $5.94 | $10.27 |
$— | $65,962,399 | $25,657,032 |
— | 12,172,369 | 2,497,616 |
$— | $5.42 | $10.27 |
Touchstone Balanced Fund | Touchstone Core Municipal Bond Fund | Touchstone International Equity Fund | Touchstone International Growth Fund | Touchstone Large Cap Focused Fund | Touchstone Large Cap Fund | |
Investment Income | ||||||
Dividends* | $7,859,811 | $59,858 | $3,241,454 | $919,851 | $37,574,469 | $4,896,062 |
Interest | 9,244,414 | 1,617,827 | — | — | 8,519 | — |
Income from securities loaned | 4,489 | — | 7,491 | 7,728 | — | — |
Total Investment Income | 17,108,714 | 1,677,685 | 3,248,945 | 927,579 | 37,582,988 | 4,896,062 |
Expenses | ||||||
Investment advisory fees | 3,710,348 | 218,624 | 731,584 | 478,678 | 14,111,078 | 1,631,500 |
Administration fees | 1,047,992 | 75,578 | 144,530 | 82,737 | 3,616,545 | 375,999 |
Compliance fees and expenses | 3,544 | 3,544 | 3,544 | 3,544 | 3,544 | 3,544 |
Custody fees | 45,440 | 4,796 | 19,521 | 15,250 | 29,945 | 7,862 |
Professional fees | 51,201 | 28,226 | 48,737 | 42,213 | 90,524 | 28,790 |
Transfer Agent fees, Class A | 398,198 | 10,940 | 103,705 | 2,631 | 1,023,480 | 4,770 |
Transfer Agent fees, Class C | 51,484 | 748 | 4,016 | 770 | 45,309 | 1,043 |
Transfer Agent fees, Class Y | 153,589 | 3,045 | 24,709 | 57,800 | 484,517 | 132,091 |
Transfer Agent fees, Institutional Class | — | 1,059 | 113 | 7,292 | 65,516 | 4,821 |
Transfer Agent fees, Class R6 | 15 | — | — | — | 233 | — |
Registration fees, Class A | 27,454 | 7,659 | 19,471 | 10,503 | 39,082 | 9,717 |
Registration fees, Class C | 13,553 | 4,473 | 10,126 | 6,832 | 14,003 | 4,630 |
Registration fees, Class Y | 21,888 | 7,369 | 14,805 | 17,276 | 54,382 | 14,654 |
Registration fees, Institutional Class | — | 4,169 | 4,515 | 11,673 | 18,399 | 11,391 |
Registration fees, Class R6 | 3,556 | — | — | — | 8,368 | — |
Reports to Shareholders, Class A | 33,814 | 3,494 | 10,537 | 3,112 | 57,621 | 3,136 |
Reports to Shareholders, Class C | 6,674 | 2,826 | 3,156 | 2,863 | 5,752 | 2,907 |
Reports to Shareholders, Class Y | 10,249 | 2,952 | 4,381 | 9,161 | 29,002 | 15,614 |
Reports to Shareholders, Institutional Class | — | 2,833 | 2,846 | 2,933 | 6,455 | 3,635 |
Reports to Shareholders, Class R6 | 2,779 | — | — | — | 2,728 | — |
Distribution expenses, Class A | 1,304,391 | 59,756 | 194,539 | 2,969 | 4,459,406 | 12,326 |
Distribution and shareholder servicing expenses, Class C | 722,037 | 10,842 | 22,148 | 6,913 | 485,086 | 24,207 |
Trustee fees | 25,851 | 25,851 | 25,851 | 25,851 | 25,851 | 25,851 |
Other expenses | 235,581 | 28,029 | 88,508 | 60,131 | 646,336 | 135,375 |
Total Expenses | 7,869,638 | 506,813 | 1,481,342 | 851,132 | 25,323,162 | 2,453,863 |
Fees waived and/or reimbursed by the Adviser and/or Affiliates(A) | (6,383) | (154,419) | (140,085) | (260,213) | (759,598) | (295,618) |
Net Expenses | 7,863,255 | 352,394 | 1,341,257 | 590,919 | 24,563,564 | 2,158,245 |
Net Investment Income (Loss) | 9,245,459 | 1,325,291 | 1,907,688 | 336,660 | 13,019,424 | 2,737,817 |
Realized and Unrealized Gains (Losses) on Investments | ||||||
Net realized gains (losses) on investments(B) | 11,347,622 | (1,223,464) | (5,157,475) | (7,570,048) | 65,284,163 | 16,518,022 |
Net realized losses on futures contracts | (188,208) | — | — | — | — | — |
Net realized gains on swap agreements | 36,476 | — | — | — | — | — |
Net realized losses on foreign currency transactions | — | — | (57,433) | (8,798) | (244) | — |
Net change in unrealized appreciation (depreciation) on investments† | 79,185,797 | 1,149,277 | 19,729,354 | 12,379,427 | 441,075,223 | 22,459,658 |
Net change in unrealized appreciation (depreciation) on futures contracts | (937,570) | — | — | — | — | — |
Net change in unrealized appreciation (depreciation) on swap agreements | (150,200) | — | — | — | — | — |
Net change in unrealized appreciation (depreciation) on foreign currency transactions | (6) | — | (3,756) | 6,020 | — | — |
Net Realized and Unrealized Gains (Losses) on Investments | 89,293,911 | (74,187) | 14,510,690 | 4,806,601 | 506,359,142 | 38,977,680 |
Change in Net Assets Resulting from Operations | $98,539,370 | $1,251,104 | $16,418,378 | $5,143,261 | $519,378,566 | $41,715,497 |
*Net of foreign tax withholding of: | $— | $— | $323,824 | $57,056 | $— | $37,235 |
†Includes increase in deferred foreign capital gains tax of: | $— | $— | $— | $29,016 | $— | $— |
(A) | See Note 4 in Notes to Financial Statements. |
(B) | Net realized gains (losses) on investments includes the realized gains of $15,950,413, $61,849,534, $13,399,649, $9,721,486, $10,926,025 and $3,692,299 for the Balanced Fund, the Large Cap Focused Fund, the Large Cap Fund, the Large Company Growth Fund, the Small Company Fund and the Value Fund, respectively, for redemption-in-kind activity, which will not be recognized by the Fund for tax purposes. |
Touchstone Large Company Growth Fund | Touchstone Small Company Fund | Touchstone Value Fund |
$969,174 | $9,996,425 | $12,424,386 |
— | — | — |
18 | 10,216 | 3,095 |
969,192 | 10,006,641 | 12,427,481 |
944,101 | 5,694,668 | 3,025,461 |
217,559 | 1,163,258 | 710,415 |
3,544 | 3,544 | 3,544 |
7,899 | 17,444 | 9,754 |
25,864 | 56,761 | 40,916 |
3,576 | 357,588 | 142,752 |
243 | 17,732 | 4,549 |
9,077 | 281,694 | 93,876 |
50,036 | 10,014 | 85,731 |
— | 196 | 40 |
10,009 | 25,111 | 14,254 |
5,745 | 12,339 | 6,480 |
9,702 | 27,827 | 15,447 |
18,313 | 11,005 | 2,511 |
— | 11,100 | 24,997 |
3,114 | 26,429 | 16,990 |
2,815 | 5,155 | 2,957 |
3,012 | 27,689 | 7,824 |
4,145 | 3,639 | 10,486 |
— | 3,815 | 3,277 |
8,605 | 1,187,211 | 396,653 |
2,189 | 169,526 | 48,769 |
25,851 | 25,851 | 25,851 |
81,005 | 218,648 | 88,017 |
1,436,404 | 9,358,244 | 4,781,551 |
(269,559) | (316,173) | (458,774) |
1,166,845 | 9,042,071 | 4,322,777 |
(197,653) | 964,570 | 8,104,704 |
18,355,445 | 12,923,225 | 13,745,839 |
— | — | — |
— | — | — |
— | (25,145) | (19) |
6,189,120 | 108,411,455 | 32,140,986 |
— | — | — |
— | — | — |
— | (52) | — |
24,544,565 | 121,309,483 | 45,886,806 |
$24,346,912 | $122,274,053 | $53,991,510 |
$7,243 | $2,855 | $17,576 |
$— | $— | $— |
Touchstone Balanced Fund | Touchstone Core Municipal Bond Fund | Touchstone International Equity Fund | ||||
For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 | |
From Operations | ||||||
Net investment income (loss) | $9,245,459 | $4,695,432 | $1,325,291 | $1,004,748 | $1,907,688 | $1,452,044 |
Net realized gains (losses) on investments, futures contracts, swap agreements and foreign currency transactions | 11,195,890 | 34,295,324 | (1,223,464) | (24,917) | (5,214,908) | 7,805,000 |
Net change in unrealized appreciation (depreciation) on investments, futures contracts, swap agreements and foreign currency transactions | 78,098,021 | (163,247,150) | 1,149,277 | (6,539,645) | 19,725,598 | (34,315,313) |
Change in Net Assets from Operations | 98,539,370 | (124,256,394) | 1,251,104 | (5,559,814) | 16,418,378 | (25,058,269) |
Distributions to Shareholders: | ||||||
Distributed earnings, Class A | (6,454,185) | (18,683,622) | (542,624) | (422,124) | (1,163,208) | (12,810,410) |
Distributed earnings, Class C | (335,681) | (2,017,932) | (16,568) | (8,006) | (28,135) | (443,920) |
Distributed earnings, Class Y | (2,487,696) | (7,153,486) | (70,470) | (56,450) | (337,719) | (3,217,018) |
Distributed earnings, Institutional Class | — | — | (695,629) | (551,274) | (60,528) | (555,566) |
Distributed earnings, Class R6 | (1,917) | (430) | — | — | — | — |
Total Distributions | (9,279,479) | (27,855,470) | (1,325,291) | (1,037,854) | (1,589,590) | (17,026,914) |
Change in Net Assets from Share Transactions(A) | (27,209,173) | 317,880,186 | (5,317,958) | 15,095,708 | (3,423,275) | 22,502,489 |
Total Increase (Decrease) in Net Assets | 62,050,718 | 165,768,322 | (5,392,145) | 8,498,040 | 11,405,513 | (19,582,694) |
Net Assets | ||||||
Beginning of period | 751,109,094 | 585,340,772 | 58,477,777 | 49,979,737 | 102,771,783 | 122,354,477 |
End of period | $813,159,812 | $751,109,094 | $53,085,632 | $58,477,777 | $114,177,296 | $102,771,783 |
(A) | For details on share transactions by class, see Statements of Changes in Net Assets - Capital Stock Activity. |
Touchstone International Growth Fund | Touchstone Large Cap Focused Fund | Touchstone Large Cap Fund | Touchstone Large Company Growth Fund | ||||
For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 |
$336,660 | $(14,650) | $13,019,424 | $5,805,824 | $2,737,817 | $2,725,934 | $(197,653) | $(661,608) |
(7,578,846) | (2,646,945) | 65,283,919 | 254,979,759 | 16,518,022 | 22,912,067 | 18,355,445 | 52,866,635 |
12,385,447 | (26,815,195) | 441,075,223 | (674,276,909) | 22,459,658 | (58,860,797) | 6,189,120 | (106,678,470) |
5,143,261 | (29,476,790) | 519,378,566 | (413,491,326) | 41,715,497 | (33,222,796) | 24,346,912 | (54,473,443) |
(1,754) | — | (26,722,797) | (144,110,933) | (186,418) | (138,543) | (115,696) | (686,500) |
— | — | (723,298) | (4,540,418) | (83,859) | (84,629) | (7,968) | (91,216) |
(125,554) | — | (8,798,604) | (46,283,019) | (7,705,511) | (7,855,117) | (256,507) | (4,818,063) |
(35,606) | (362) | (3,775,076) | (15,167,079) | (2,900,891) | (2,885,087) | (4,584,366) | (42,296,250) |
— | — | (32,814) | (165) | — | — | — | — |
(162,914) | (362) | (40,052,589) | (210,101,614) | (10,876,679) | (10,963,376) | (4,964,537) | (47,892,029) |
(5,007,786) | (10,868,501) | (41,778,980) | 756,668,107 | (35,086,898) | (46,985,624) | (35,711,782) | 2,486,868 |
(27,439) | (40,345,653) | 437,546,997 | 133,075,167 | (4,248,080) | (91,171,796) | (16,329,407) | (99,878,604) |
61,028,131 | 101,373,784 | 2,498,174,961 | 2,365,099,794 | 278,097,572 | 369,269,368 | 162,852,904 | 262,731,508 |
$61,000,692 | $61,028,131 | $2,935,721,958 | $2,498,174,961 | $273,849,492 | $278,097,572 | $146,523,497 | $162,852,904 |
Touchstone Small Company Fund | Touchstone Value Fund | |||
For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 | |
From Operations | ||||
Net investment income (loss) | $964,570 | $(2,103,171) | $8,104,704 | $7,223,081 |
Net realized gains (losses) on investments and foreign currency transactions | 12,898,080 | 72,652,306 | 13,745,820 | 53,432,153 |
Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions | 108,411,403 | (239,902,157) | 32,140,986 | (84,024,306) |
Change in Net Assets from Operations | 122,274,053 | (169,353,022) | 53,991,510 | (23,369,072) |
Distributions to Shareholders: | ||||
Distributed earnings, Class A | (11,830,362) | (100,933,144) | (11,303,139) | (14,640,827) |
Distributed earnings, Class C | (432,280) | (8,485,889) | (340,918) | (442,410) |
Distributed earnings, Class Y | (5,543,536) | (42,208,035) | (7,487,618) | (8,719,641) |
Distributed earnings, Institutional Class | (507,462) | (2,833,076) | (16,911,807) | (25,683,573) |
Distributed earnings, Class R6 | (1,463,928) | (10,437,867) | (1,655,788) | (1,961) |
Total Distributions | (19,777,568) | (164,898,011) | (37,699,270) | (49,488,412) |
Change in Net Assets from Share Transactions(A) | 35,514,933 | 100,055,548 | (21,834,052) | 150,160,610 |
Total Increase (Decrease) in Net Assets | 138,011,418 | (234,195,485) | (5,541,812) | 77,303,126 |
Net Assets | ||||
Beginning of period | 765,405,431 | 999,600,916 | 501,959,837 | 424,656,711 |
End of period | $903,416,849 | $765,405,431 | $496,418,025 | $501,959,837 |
(A) | For details on share transactions by class, see Statements of Changes in Net Assets - Capital Stock Activity. |
Touchstone Balanced Fund | Touchstone Core Municipal Bond Fund | |||||||
For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022(A) | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 | |||||
Shares | Dollars | Shares | Dollars | Shares | Dollars | Shares | Dollars | |
Class A(B) | ||||||||
Proceeds from Shares issued | 1,305,841 | $29,334,546 | 2,071,514 | $51,804,611 | 70,723 | $752,997 | 82,130 | $942,504 |
Proceeds from Shares issued in connection with reorganization | — | — | 12,703,235 | 326,253,191 | — | — | — | — |
Reinvestment of distributions | 275,113 | 6,106,121 | 695,294 | 17,702,007 | 41,801 | 445,970 | 29,811 | 342,750 |
Cost of Shares redeemed | (3,438,251) | (76,723,283) | (3,788,521) | (94,469,765) | (311,187) | (3,298,640) | (367,762) | (4,187,142) |
Change from Class A Share Transactions | (1,857,297) | (41,282,616) | 11,681,522 | 301,290,044 | (198,663) | (2,099,673) | (255,821) | (2,901,888) |
Class C | ||||||||
Proceeds from Shares issued | 362,864 | 8,171,723 | 894,829 | 22,824,368 | 82,084 | 880,091 | 33,277 | 366,528 |
Proceeds from Shares issued in connection with reorganization | — | — | 721,908 | 18,587,124 | — | — | — | — |
Reinvestment of distributions | 14,847 | 331,979 | 77,652 | 2,003,428 | 1,545 | 16,496 | 689 | 7,946 |
Cost of Shares redeemed | (758,402) | (16,854,147) | (816,261) | (20,385,578) | (75,695) | (802,420) | (45,123) | (494,884) |
Change from Class C Share Transactions | (380,691) | (8,350,445) | 878,128 | 23,029,342 | 7,934 | 94,167 | (11,157) | (120,410) |
Class Y(C) | ||||||||
Proceeds from Shares issued | 4,328,959 | 97,132,692 | 4,190,499 | 102,045,837 | 236,499 | 2,487,537 | 79,167 | 908,797 |
Proceeds from Shares issued in connection with reorganization | — | — | — | — | — | — | — | — |
Reinvestment of distributions | 112,185 | 2,474,987 | 283,307 | 7,147,940 | 5,448 | 58,169 | 3,831 | 44,150 |
Cost of Shares redeemed | (3,485,175) | (77,185,708) | (5,008,449) | (115,748,212) | (251,774) | (2,631,261) | (117,610) | (1,328,373) |
Change from Class Y Share Transactions | 955,969 | 22,421,971 | (534,643) | (6,554,435) | (9,827) | (85,555) | (34,612) | (375,426) |
Institutional Class | ||||||||
Proceeds from Shares issued | — | — | — | — | 11,520 | 123,810 | 1,731,152 | 20,620,289 |
Reinvestment of distributions | — | — | — | — | 65,116 | 695,613 | 47,679 | 547,245 |
Cost of Shares redeemed | — | — | — | — | (382,513) | (4,046,320) | (229,859) | (2,674,102) |
Change from Institutional Class Share Transactions | — | — | — | — | (305,877) | (3,226,897) | 1,548,972 | 18,493,432 |
Class R6 | ||||||||
Proceeds from Shares issued | — | — | 5,228 | 114,805 | — | — | — | — |
Reinvestment of distributions | 87 | 1,917 | 20 | 430 | — | — | — | — |
Change from Class R6 Share Transactions | 87 | 1,917 | 5,248 | 115,235 | — | — | — | — |
Change from Share Transactions | (1,281,932) | $(27,209,173) | 12,030,255 | $317,880,186 | (506,433) | $(5,317,958) | 1,247,382 | $15,095,708 |
(A) | Represents the period from commencement of operations (October 28, 2021) through June 30, 2022 for Class R6. |
(B) | Effective July 16, 2021, Class B shares of the AIG Active Allocation Fund and AIG Multi-Asset Allocation Fund were reorganized into Class A shares of the Touchstone Balanced Fund. |
(C) | Effective July 16, 2021, Class W shares of the AIG International Dividend Strategy Fund were reorganized into Class Y shares of the Touchstone International Equity Fund. |
Touchstone International Equity Fund | Touchstone International Growth Fund | ||||||
For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 | ||||
Shares | Dollars | Shares | Dollars | Shares | Dollars | Shares | Dollars |
207,040 | $2,956,760 | 469,378 | $8,288,140 | 16,348 | $174,892 | 25,427 | $341,175 |
— | — | 2,291,115 | 43,002,245 | — | — | — | — |
81,517 | 1,103,741 | 811,352 | 12,465,621 | 157 | 1,587 | — | — |
(656,145) | (9,128,332) | (2,467,086) | (43,314,837) | (28,249) | (304,912) | (58,165) | (773,559) |
(367,588) | (5,067,831) | 1,104,759 | 20,441,169 | (11,744) | (128,433) | (32,738) | (432,384) |
22,995 | 306,225 | 29,057 | 424,401 | 8,917 | 90,897 | 9,141 | 112,674 |
— | — | 122,778 | 2,140,804 | — | — | — | — |
2,171 | 26,900 | 30,546 | 429,513 | — | — | — | — |
(55,527) | (706,451) | (106,024) | (1,641,566) | (22,970) | (232,584) | (19,774) | (254,521) |
(30,361) | (373,326) | 76,357 | 1,353,152 | (14,053) | (141,687) | (10,633) | (141,847) |
420,549 | 6,158,939 | 348,174 | 5,357,930 | 31,410 | 341,642 | 117,736 | 1,738,578 |
— | — | 53,869 | 998,993 | — | — | — | — |
25,019 | 333,999 | 209,605 | 3,180,484 | 11,590 | 121,293 | — | — |
(329,954) | (4,520,062) | (549,548) | (9,100,100) | (442,777) | (4,855,700) | (418,756) | (5,776,915) |
115,614 | 1,972,876 | 62,100 | 437,307 | (399,777) | (4,392,765) | (301,020) | (4,038,337) |
1,744 | 25,692 | 716 | 12,694 | 16,522 | 185,440 | 89,919 | 1,315,535 |
4,544 | 60,529 | 36,664 | 555,566 | 3,332 | 35,182 | 25 | 360 |
(2,907) | (41,215) | (18,960) | (297,399) | (50,126) | (565,523) | (529,482) | (7,571,828) |
3,381 | 45,006 | 18,420 | 270,861 | (30,272) | (344,901) | (439,538) | (6,255,933) |
— | — | — | — | — | — | — | — |
— | — | — | — | — | — | — | — |
— | — | — | — | — | — | — | — |
(278,954) | $(3,423,275) | 1,261,636 | $22,502,489 | (455,846) | $(5,007,786) | (783,929) | $(10,868,501) |
Touchstone Large Cap Focused Fund | Touchstone Large Cap Fund | |||||||
For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022(A) | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 | |||||
Shares | Dollars | Shares | Dollars | Shares | Dollars | Shares | Dollars | |
Class A | ||||||||
Proceeds from Shares issued | 871,623 | $44,199,684 | 1,340,013 | $77,295,565 | 55,034 | $878,440 | 78,046 | $1,363,874 |
Proceeds from Shares issued in connection with reorganization | — | — | 11,569,461 | 681,748,263 | — | — | — | — |
Reinvestment of distributions | 512,576 | 24,803,337 | 2,295,540 | 133,285,514 | 10,508 | 165,562 | 6,281 | 118,085 |
Cost of Shares redeemed | (3,979,920) | (200,436,477) | (4,668,669) | (265,221,706) | (52,916) | (846,101) | (30,720) | (525,957) |
Change from Class A Share Transactions | (2,595,721) | (131,433,456) | 10,536,345 | 627,107,636 | 12,626 | 197,901 | 53,607 | 956,002 |
Class C | ||||||||
Proceeds from Shares issued | 142,815 | 6,440,237 | 224,240 | 11,852,311 | 20,444 | 313,352 | 10,943 | 175,780 |
Proceeds from Shares issued in connection with reorganization | — | — | 446,479 | 24,084,368 | — | — | — | — |
Reinvestment of distributions | 16,420 | 716,415 | 85,678 | 4,508,375 | 5,393 | 82,939 | 4,613 | 84,323 |
Cost of Shares redeemed | (312,804) | (14,085,002) | (379,100) | (19,674,805) | (102,895) | (1,624,789) | (63,742) | (1,113,651) |
Change from Class C Share Transactions | (153,569) | (6,928,350) | 377,297 | 20,770,249 | (77,058) | (1,228,498) | (48,186) | (853,548) |
Class Y(B) | ||||||||
Proceeds from Shares issued | 4,389,105 | 223,429,518 | 4,114,587 | 236,829,946 | 194,223 | 3,125,993 | 1,150,810 | 20,630,434 |
Proceeds from Shares issued in connection with reorganization | — | — | 681,058 | 40,068,287 | — | — | — | — |
Reinvestment of distributions | 171,659 | 8,278,156 | 747,215 | 43,376,695 | 475,857 | 7,505,606 | 406,710 | 7,668,528 |
Cost of Shares redeemed | (3,137,778) | (158,474,364) | (4,885,257) | (274,179,208) | (1,856,213) | (30,327,891) | (3,509,211) | (63,649,856) |
Change from Class Y Share Transactions | 1,422,986 | 73,233,310 | 657,603 | 46,095,720 | (1,186,133) | (19,696,292) | (1,951,691) | (35,350,894) |
Institutional Class | ||||||||
Proceeds from Shares issued | 3,889,420 | 194,308,524 | 4,978,600 | 278,659,299 | 2,513,064 | 40,723,228 | 2,165,174 | 39,064,241 |
Reinvestment of distributions | 55,100 | 2,661,762 | 258,156 | 15,015,301 | 153,334 | 2,420,443 | 134,812 | 2,547,446 |
Cost of Shares redeemed | (3,851,324) | (192,969,218) | (4,162,961) | (231,872,423) | (3,548,886) | (57,503,680) | (2,961,832) | (53,348,871) |
Change from Institutional Class Share Transactions | 93,196 | 4,001,068 | 1,073,795 | 61,802,177 | (882,488) | (14,360,009) | (661,846) | (11,737,184) |
Class R6 | ||||||||
Proceeds from Shares issued | 359,726 | 19,738,096 | 18,091 | 948,609 | — | — | — | — |
Reinvestment of distributions | 622 | 30,031 | 3 | 165 | — | — | — | — |
Cost of Shares redeemed | (8,283) | (419,679) | (1,086) | (56,449) | — | — | — | — |
Change from Class R6 Share Transactions | 352,065 | 19,348,448 | 17,008 | 892,325 | — | — | — | — |
Change from Share Transactions | (881,043) | $(41,778,980) | 12,662,048 | $756,668,107 | (2,133,053) | $(35,086,898) | (2,608,116) | $(46,985,624) |
^ | The June 30, 2023 and June 30, 2022 Class C share amounts relating to Proceeds from Shares issued, Reinvestment of distributions, Cost of Shares redeemed, and Change from Class C Share Transactions as well as Change from Share transactions were updated to reflect the effect of a 1 for 0.379048 reverse stock split for Class C shares on October 14, 2022 (See Note 9 in the Notes to Financial Statements). |
(A) | Represents the period from commencement of operations (October 28, 2021) through June 30, 2022 for Class R6. |
(B) | Effective July 16, 2021, Class W shares of the AIG Focused Alpha Large-Cap Fund were reorganized into Class Y shares of the Touchstone Large Cap Focused Fund. |
Touchstone Large Company Growth Fund | Touchstone Small Company Fund^ | ||||||
For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022 | ||||
Shares | Dollars | Shares | Dollars | Shares | Dollars | Shares | Dollars |
13,612 | $522,431 | 23,624 | $1,073,254 | 3,891,138 | $19,216,133 | 3,089,369 | $18,264,217 |
— | — | — | — | — | — | — | — |
3,229 | 115,695 | 14,010 | 686,500 | 2,345,714 | 11,470,539 | 16,920,322 | 96,615,036 |
(16,998) | (637,756) | (9,825) | (486,656) | (11,255,496) | (55,485,426) | (12,245,547) | (70,525,090) |
(157) | 370 | 27,809 | 1,273,098 | (5,018,644) | (24,798,754) | 7,764,144 | 44,354,163 |
881 | 33,004 | 1,391 | 59,787 | 395,461 | 1,551,009 | 306,024 | 1,898,466 |
— | — | — | — | — | — | — | — |
238 | 7,965 | 1,916 | 88,481 | 87,922 | 427,301 | 1,470,185 | 8,416,613 |
(1,312) | (44,741) | (5,874) | (246,977) | (7,438,078) | (5,317,700) | (1,013,412) | (6,546,227) |
(193) | (3,772) | (2,567) | (98,709) | (6,954,695) | (3,339,390) | 762,797 | 3,768,852 |
12,260 | 469,925 | 27,974 | 1,444,993 | 19,225,536 | 109,971,262 | 9,325,160 | 60,109,420 |
— | — | — | — | — | — | — | — |
7,001 | 256,507 | 96,442 | 4,817,277 | 982,602 | 5,522,224 | 6,441,959 | 42,001,576 |
(222,625) | (8,399,800) | (245,654) | (11,562,989) | (10,085,513) | (56,706,050) | (11,049,942) | (71,888,664) |
(203,364) | (7,673,368) | (121,238) | (5,300,719) | 10,122,625 | 58,787,436 | 4,717,177 | 30,222,332 |
1,267,769 | 48,971,378 | 1,440,464 | 70,878,080 | 725,853 | 4,089,821 | 1,642,193 | 10,324,078 |
115,186 | 4,259,572 | 791,411 | 39,847,570 | 86,528 | 487,153 | 405,783 | 2,645,704 |
(2,087,146) | (81,265,962) | (2,253,830) | (104,112,452) | (748,587) | (4,244,022) | (483,053) | (3,305,409) |
(704,191) | (28,035,012) | (21,955) | 6,613,198 | 63,794 | 332,952 | 1,564,923 | 9,664,373 |
— | — | — | — | 11,114,924 | 56,693,014 | 14,482,860 | 87,457,173 |
— | — | — | — | 284,288 | 1,461,242 | 1,747,162 | 10,413,085 |
— | — | — | — | (10,446,031) | (53,621,567) | (14,245,220) | (85,824,430) |
— | — | — | — | 953,181 | 4,532,689 | 1,984,802 | 12,045,828 |
(907,905) | $(35,711,782) | (117,951) | $2,486,868 | (833,739) | $35,514,933 | 16,793,843 | $100,055,548 |
Touchstone Value Fund | ||||
For the Year Ended June 30, 2023 | For the Year Ended June 30, 2022(A) | |||
Shares | Dollars | Shares | Dollars | |
Class A | ||||
Proceeds from Shares issued | 676,587 | $6,874,794 | 711,431 | $7,911,031 |
Proceeds from Shares issued in connection with reorganization | — | — | 16,002,448 | 178,897,865 |
Reinvestment of distributions | 1,079,157 | 10,781,601 | 1,283,854 | 13,979,764 |
Cost of Shares redeemed | (2,101,197) | (21,374,057) | (5,066,703) | (55,887,177) |
Change from Class A Share Transactions | (345,453) | (3,717,662) | 12,931,030 | 144,901,483 |
Class C | ||||
Proceeds from Shares issued | 179,695 | 1,813,103 | 155,614 | 1,684,614 |
Proceeds from Shares issued in connection with reorganization | — | — | 454,230 | 5,060,481 |
Reinvestment of distributions | 33,821 | 336,898 | 40,098 | 434,249 |
Cost of Shares redeemed | (428,227) | (4,241,922) | (241,736) | (2,688,461) |
Change from Class C Share Transactions | (214,711) | (2,091,921) | 408,206 | 4,490,883 |
Class Y(B) | ||||
Proceeds from Shares issued | 3,070,028 | 32,214,842 | 1,271,629 | 14,268,625 |
Proceeds from Shares issued in connection with reorganization | — | — | 493,844 | 5,545,569 |
Reinvestment of distributions | 732,473 | 7,355,459 | 779,077 | 8,531,614 |
Cost of Shares redeemed | (4,196,004) | (42,666,245) | (2,625,149) | (29,423,662) |
Change from Class Y Share Transactions | (393,503) | (3,095,944) | (80,599) | (1,077,854) |
Institutional Class | ||||
Proceeds from Shares issued | 3,781,754 | 38,345,288 | 5,463,546 | 60,984,321 |
Reinvestment of distributions | 1,486,511 | 14,859,297 | 1,915,258 | 20,913,854 |
Cost of Shares redeemed | (8,964,398) | (92,624,074) | (7,279,817) | (80,473,980) |
Change from Institutional Class Share Transactions | (3,696,133) | (39,419,489) | 98,987 | 1,424,195 |
Class R6 | ||||
Proceeds from Shares issued | 2,651,782 | 28,445,654 | 39,612 | 419,942 |
Reinvestment of distributions | 165,429 | 1,655,788 | 192 | 1,961 |
Cost of Shares redeemed | (359,399) | (3,610,478) | — | — |
Change from Class R6 Share Transactions | 2,457,812 | 26,490,964 | 39,804 | 421,903 |
Change from Share Transactions | (2,191,988) | $(21,834,052) | 13,397,428 | $150,160,610 |
(A) | Represents the period from commencement of operations (October 28, 2021) through June 30, 2022 for Class R6. |
(B) | Effective July 16, 2021, Class W shares of the AIG Strategic Value Fund were reorganized into Class Y shares of the Touchstone Value Fund. |
Touchstone Balanced Fund | ||||||||||||||||||||||||||||
Period ended | Net asset value at beginning of period | Net investment income (loss) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Distributions from net investment income | Distributions from realized capital gains | Total distributions | Net asset value at end of period | Total return(1) | Net assets at end of period (000's) | Ratio of net expenses to average net assets(2) | Ratio of gross expenses to average net assets(3) | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||
Class A | ||||||||||||||||||||||||||||
06/30/19 | $21.54 | $0.32 | $1.73 | $2.05 | $(0.34) | $ (1.07) | $(1.41) | $22.18 | 10.13% | $244,037 | 1.01% | 1.09% | 1.49% | 81% | ||||||||||||||
06/30/20 | 22.18 | 0.27 | 1.85 | 2.12 | (0.28) | (2.41) | (2.69) | 21.61 | 10.09 | 250,298 | 1.01 | 1.07 | 1.25 | 135 | ||||||||||||||
06/30/21 | 21.61 | 0.16(4) | 5.47 | 5.63 | (0.15) | (1.57) | (1.72) | 25.52 | 26.92 | 322,009 | 1.01 | 1.03 | 0.66 | 60 | ||||||||||||||
06/30/22 | 25.52 | 0.14(4) | (3.42) | (3.28) | (0.15) | (0.61) | (0.76) | 21.48 | (13.32) | 521,933 | 0.99 | 0.99 | 0.54 | 92(5)(6) | ||||||||||||||
06/30/23 | 21.48 | 0.28 | 2.66 | 2.94 | (0.28) | — | (0.28) | 24.14 | 13.81 | 541,895 | 1.02 | 1.02 | 1.24 | 57(5) | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
06/30/19 | $21.63 | $0.15 | $1.75 | $1.90 | $(0.17) | $ (1.07) | $(1.24) | $22.29 | 9.33% | $34,380 | 1.78% | 1.89% | 0.72% | 81% | ||||||||||||||
06/30/20 | 22.29 | 0.11 | 1.86 | 1.97 | (0.13) | (2.41) | (2.54) | 21.72 | 9.23 | 44,174 | 1.78 | 1.88 | 0.48 | 135 | ||||||||||||||
06/30/21 | 21.72 | (0.03)(4) | 5.49 | 5.46 | (0.02) | (1.57) | (1.59) | 25.59 | 25.93 | 65,455 | 1.78 | 1.81 | (0.11) | 60 | ||||||||||||||
06/30/22 | 25.59 | (0.05)(4) | (3.42) | (3.47) | — | (0.61) | (0.61) | 21.51 | (13.96) | 73,906 | 1.75 | 1.75 | (0.22) | 92(5)(6) | ||||||||||||||
06/30/23 | 21.51 | 0.10 | 2.68 | 2.78 | (0.11) | — | (0.11) | 24.18 | 12.95 | 73,893 | 1.78 | 1.78 | 0.48 | 57(5) | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
06/30/19 | $21.39 | $0.35 | $1.72 | $2.07 | $(0.38) | $ (1.07) | $(1.45) | $22.01 | 10.33% | $60,638 | 0.81% | 0.88% | 1.69% | 81% | ||||||||||||||
06/30/20 | 22.01 | 0.32 | 1.84 | 2.16 | (0.33) | (2.41) | (2.74) | 21.43 | 10.35 | 94,921 | 0.81 | 0.87 | 1.45 | 135 | ||||||||||||||
06/30/21 | 21.43 | 0.20(4) | 5.41 | 5.61 | (0.19) | (1.57) | (1.76) | 25.28 | 27.12 | 197,877 | 0.81 | 0.81 | 0.86 | 60 | ||||||||||||||
06/30/22 | 25.28 | 0.18(4) | (3.38) | (3.20) | (0.19) | (0.61) | (0.80) | 21.28 | (13.13) | 155,159 | 0.79(7) | 0.75 | 0.74 | 92(5)(6) | ||||||||||||||
06/30/23 | 21.28 | 0.32 | 2.64 | 2.96 | (0.33) | — | (0.33) | 23.91 | 14.06 | 197,245 | 0.79 | 0.79 | 1.47 | 57(5) | ||||||||||||||
Class R6 | ||||||||||||||||||||||||||||
06/30/22(8) | $26.15 | $0.13(4) | $(4.22) | $(4.09) | $(0.18) | $ (0.61) | $(0.79) | $21.27 | (16.08)%(9) | $112 | 0.64%(10) | 33.98%(10) | 0.89%(10) | 92%(5)(6) | ||||||||||||||
06/30/23 | 21.27 | 0.35 | 2.64 | 2.99 | (0.36) | — | (0.36) | 23.90 | 14.23 | 128 | 0.65 | 6.11 | 1.61 | 57(5) |
(1) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(2) | The ratios shown include liquidity provider expenses. The ratio of net expenses to average net assets excluding liquidity provider expenses for Class A shares was 1.01% , for Class C shares was 1.77%, for Class Y shares was 0.78% and for Class R6 shares was 0.64% for the year ended June 30, 2023. |
(3) | The ratios shown include liquidity provider expenses. The ratio of gross expenses to average net assets excluding liquidity provider expenses for Class A shares was 1.01%, for Class C shares was 1.77%, for Class Y shares was 0.78% and for Class R6 shares was 6.10% for the year ended June 30, 2023. |
(4) | The net investment income per share was based on average shares outstanding for the period. |
(5) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
(6) | Portfolio turnover excludes the purchases and sales of securities by the AIG Asset Allocation Fund and AIG Multi-Asset Allocation Fund acquired on July 16, 2021. If these transactions were included, portfolio turnover would have been higher. |
(7) | Net expenses include amounts recouped by the Adviser. |
(8) | Represents the period from commencement of operations (October 28, 2021) through June 30, 2022 for Class R6. |
(9) | Not annualized. |
(10) | Annualized. |
Touchstone Core Municipal Bond Fund | ||||||||||||||||||||||||||||
Period ended | Net asset value at beginning of period | Net investment income | Net realized and unrealized gains (losses) on investments | Total from investment operations | Distributions from net investment income | Distributions from realized capital gains | Total distributions | Net asset value at end of period | Total return(1) | Net assets at end of period (000's) | Ratio of net expenses to average net assets | Ratio of gross expenses to average net assets | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||
Class A | ||||||||||||||||||||||||||||
06/30/19 | $11.33 | $0.32 | $0.30 | $0.62 | $(0.32) | $ — | $(0.32) | $11.63 | 5.60% | $33,515 | 0.85% | 1.15% | 2.85% | 53% | ||||||||||||||
06/30/20 | 11.63 | 0.30 | 0.21 | 0.51 | (0.30) | (0.01) | (0.31) | 11.83 | 4.38 | 32,060 | 0.85 | 1.18 | 2.53 | 33 | ||||||||||||||
06/30/21 | 11.83 | 0.28 | 0.06 | 0.34 | (0.28) | — | (0.28) | 11.89 | 2.90 | 30,870 | 0.85 | 1.15 | 2.35 | 21 | ||||||||||||||
06/30/22 | 11.89 | 0.16 | (1.16) | (1.00) | (0.16) | (0.01) | (0.17) | 10.72 | (8.43) | 25,101 | 0.82 | 1.08 | 1.40 | 157 | ||||||||||||||
06/30/23 | 10.72 | 0.24 | 0.01 | 0.25 | (0.24) | — | (0.24) | 10.73 | 2.37 | 22,988 | 0.80 | 1.05 | 2.27 | 54 | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
06/30/19 | $11.33 | $0.23 | $0.33 | $0.56 | $(0.24) | $ — | $(0.24) | $11.65 | 4.97% | $2,756 | 1.60% | 2.08% | 2.10% | 53% | ||||||||||||||
06/30/20 | 11.65 | 0.21 | 0.21 | 0.42 | (0.21) | (0.01) | (0.22) | 11.85 | 3.61 | 2,050 | 1.60 | 2.32 | 1.78 | 33 | ||||||||||||||
06/30/21 | 11.85 | 0.18 | 0.07 | 0.25 | (0.19) | — | (0.19) | 11.91 | 2.13 | 1,180 | 1.60 | 2.27 | 1.60 | 21 | ||||||||||||||
06/30/22 | 11.91 | 0.08 | (1.17) | (1.09) | (0.08) | (0.01) | (0.09) | 10.73 | (9.27) | 943 | 1.57 | 2.47 | 0.65 | 157 | ||||||||||||||
06/30/23 | 10.73 | 0.14 | 0.02 | 0.16 | (0.16) | — | (0.16) | 10.73 | 1.54 | 1,028 | 1.55 | 2.45 | 1.52 | 54 | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
06/30/19 | $11.33 | $0.35 | $0.31 | $0.66 | $(0.35) | $ — | $(0.35) | $11.64 | 5.96% | $3,031 | 0.60% | 1.05% | 3.10% | 53% | ||||||||||||||
06/30/20 | 11.64 | 0.33 | 0.22 | 0.55 | (0.33) | (0.01) | (0.34) | 11.85 | 4.73 | 2,616 | 0.60 | 1.31 | 2.78 | 33 | ||||||||||||||
06/30/21 | 11.85 | 0.31 | 0.05 | 0.36 | (0.31) | — | (0.31) | 11.90 | 3.07 | 3,449 | 0.60 | 1.25 | 2.60 | 21 | ||||||||||||||
06/30/22 | 11.90 | 0.19 | (1.15) | (0.96) | (0.19) | (0.01) | (0.20) | 10.74 | (8.19) | 2,740 | 0.57 | 1.11 | 1.65 | 157 | ||||||||||||||
06/30/23 | 10.74 | 0.27 | 0.01 | 0.28 | (0.27) | — | (0.27) | 10.75 | 2.66 | 2,637 | 0.55 | 1.18 | 2.52 | 54 | ||||||||||||||
Institutional Class | ||||||||||||||||||||||||||||
06/30/19 | $11.33 | $0.36 | $0.31 | $0.67 | $(0.36) | $ — | $(0.36) | $11.64 | 6.05% | $7,913 | 0.55% | 0.96% | 3.15% | 53% | ||||||||||||||
06/30/20 | 11.64 | 0.33 | 0.21 | 0.54 | (0.33) | (0.01) | (0.34) | 11.84 | 4.69 | 12,785 | 0.55 | 0.91 | 2.83 | 33 | ||||||||||||||
06/30/21 | 11.84 | 0.32 | 0.06 | 0.38 | (0.32) | — | (0.32) | 11.90 | 3.20 | 14,481 | 0.55 | 0.85 | 2.65 | 21 | ||||||||||||||
06/30/22 | 11.90 | 0.20 | (1.15) | (0.95) | (0.20) | (0.01) | (0.21) | 10.74 | (8.13) | 29,694 | 0.50 | 0.75 | 1.72 | 157 | ||||||||||||||
06/30/23 | 10.74 | 0.28 | 0.01 | 0.29 | (0.28) | — | (0.28) | 10.75 | 2.73 | 26,434 | 0.48 | 0.73 | 2.59 | 54 |
(1) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
Touchstone International Equity Fund | ||||||||||||||||||||||||||||
Period ended | Net asset value at beginning of period | Net investment income (loss)(1) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Distributions from net investment income | Distributions from realized capital gains | Total distributions | Net asset value at end of period | Total return(2) | Net assets at end of period (000's) | Ratio of net expenses to average net assets | Ratio of gross expenses to average net assets | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||
Class A | ||||||||||||||||||||||||||||
06/30/19 | $18.15 | $0.20 | $(0.57) | $(0.37) | $(0.26) | $ (1.87) | $(2.13) | $15.65 | (0.78)% | $106,870 | 1.30% | 1.37% | 1.26% | 43% | ||||||||||||||
06/30/20 | 15.65 | 0.08 | (0.98) | (0.90) | (0.19) | (0.63) | (0.82) | 13.93 | (6.28) | 77,744 | 1.29 | 1.40 | 0.57 | 45 | ||||||||||||||
06/30/21 | 13.93 | 0.09 | 4.94 | 5.03 | (0.08) | — | (0.08) | 18.88 | 36.16 | 88,022 | 1.36 | 1.37 | 0.56 | 31 | ||||||||||||||
06/30/22 | 18.88 | 0.18 | (3.44) | (3.26) | (0.08) | (2.24) | (2.32) | 13.30 | (18.87) | 76,671 | 1.36 | 1.40 | 1.08 | 45(3) | ||||||||||||||
06/30/23 | 13.30 | 0.24 | 1.99 | 2.23 | (0.21) | — | (0.21) | 15.32 | 16.99 | 82,697 | 1.36 | 1.44 | 1.75 | 32 | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
06/30/19 | $17.12 | $0.03 | $(0.54) | $(0.51) | $(0.10) | $ (1.87) | $(1.97) | $14.64 | (1.87)% | $3,783 | 2.34% | 2.42% | 0.21% | 43% | ||||||||||||||
06/30/20 | 14.64 | (0.09) | (0.93) | (1.02) | — | (0.63) | (0.63) | 12.99 | (7.41) | 2,073 | 2.49 | 2.74 | (0.63) | 45 | ||||||||||||||
06/30/21 | 12.99 | (0.04) | 4.60 | 4.56 | (—)(4) | — | (—)(4) | 17.55 | 35.14 | 2,115 | 2.15 | 2.90 | (0.24) | 31 | ||||||||||||||
06/30/22 | 17.55 | 0.07 | (3.18) | (3.11) | (0.02) | (2.24) | (2.26) | 12.18 | (19.45) | 2,399 | 1.99 | 2.71 | 0.45 | 45(3) | ||||||||||||||
06/30/23 | 12.18 | 0.14 | 1.82 | 1.96 | (0.17) | — | (0.17) | 13.97 | 16.27 | 2,327 | 1.99 | 2.80 | 1.12 | 32 | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
06/30/19 | $17.93 | $0.25 | $(0.57) | $(0.32) | $(0.30) | $ (1.87) | $(2.17) | $15.44 | (0.47)% | $42,120 | 0.99% | 1.12% | 1.57% | 43% | ||||||||||||||
06/30/20 | 15.44 | 0.13 | (0.97) | (0.84) | (0.24) | (0.63) | (0.87) | 13.73 | (6.03) | 23,835 | 0.99 | 1.15 | 0.87 | 45 | ||||||||||||||
06/30/21 | 13.73 | 0.15 | 4.88 | 5.03 | (0.11) | — | (0.11) | 18.65 | 36.71 | 27,903 | 0.99 | 1.19 | 0.93 | 31 | ||||||||||||||
06/30/22 | 18.65 | 0.23 | (3.40) | (3.17) | (0.13) | (2.24) | (2.37) | 13.11 | (18.61) | 20,430 | 0.99 | 1.19 | 1.45 | 45(3) | ||||||||||||||
06/30/23 | 13.11 | 0.29 | 1.97 | 2.26 | (0.24) | — | (0.24) | 15.13 | 17.46 | 25,324 | 0.99 | 1.23 | 2.12 | 32 | ||||||||||||||
Institutional Class | ||||||||||||||||||||||||||||
06/30/19 | $17.92 | $0.26 | $(0.57) | $(0.31) | $(0.32) | $ (1.87) | $(2.19) | $15.42 | (0.39)% | $2,592 | 0.89% | 1.38% | 1.67% | 43% | ||||||||||||||
06/30/20 | 15.42 | 0.14 | (0.95) | (0.81) | (0.27) | (0.63) | (0.90) | 13.71 | (5.89) | 14,205 | 0.89 | 1.12 | 0.97 | 45 | ||||||||||||||
06/30/21 | 13.71 | 0.16 | 4.88 | 5.04 | (0.12) | — | (0.12) | 18.63 | 36.83 | 4,315 | 0.89 | 1.06 | 1.03 | 31 | ||||||||||||||
06/30/22 | 18.63 | 0.25 | (3.40) | (3.15) | (0.15) | (2.24) | (2.39) | 13.09 | (18.52) | 3,273 | 0.89 | 1.34 | 1.55 | 45(3) | ||||||||||||||
06/30/23 | 13.09 | 0.31 | 1.95 | 2.26 | (0.24) | — | (0.24) | 15.11 | 17.54 | 3,830 | 0.89 | 1.23 | 2.22 | 32 |
(1) | The net investment income per share was based on average shares outstanding for the period. |
(2) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(3) | Portfolio turnover excludes the purchases and sales of securities by the AIG International Dividend Strategy Fund acquired on July 16, 2021. If these transactions were included, portfolio turnover would have been higher. |
(4) | Less than $0.005 per share. |
Touchstone International Growth Fund | ||||||||||||||||||||||||||||
Period ended | Net asset value at beginning of period | Net investment income (loss) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Distributions from net investment income | Distributions from realized capital gains | Total distributions | Net asset value at end of period | Total return(1) | Net assets at end of period (000's) | Ratio of net expenses to average net assets | Ratio of gross expenses to average net assets | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||
Class A | ||||||||||||||||||||||||||||
06/30/19(2) | $13.11 | $(0.04)(3) | $(0.47) | $(0.51) | $— | $ (1.49) | $(1.49) | $11.11 | (1.78)% | $760 | 1.24% | 4.36% | (0.31)% | 103% | ||||||||||||||
06/30/20(2) | 11.11 | (0.03)(3) | 0.60 | 0.57 | — | — | — | 11.68 | 5.07 | 777 | 1.24 | 4.17 | (0.26) | 74 | ||||||||||||||
06/30/21(2) | 11.68 | (0.10)(3) | 3.77 | 3.67 | — | — | — | 15.35 | 31.51 | 2,216 | 1.24 | 2.31 | (0.63) | 116(4) | ||||||||||||||
06/30/22 | 15.35 | (0.04) | (4.81) | (4.85) | — | — | — | 10.50 | (31.60) | 1,172 | 1.24 | 2.62 | (0.27) | 49 | ||||||||||||||
06/30/23 | 10.50 | 0.03(3) | 0.89 | 0.92 | (0.02) | — | (0.02) | 11.40 | 8.74 | 1,139 | 1.24 | 2.80 | 0.31 | 38 | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
06/30/19(2) | $12.97 | $(0.12)(3) | $(0.48) | $(0.60) | $— | $ (1.49) | $(1.49) | $10.88 | (2.52)% | $185 | 1.99% | 6.35% | (1.06)% | 103% | ||||||||||||||
06/30/20(2) | 10.88 | (0.11)(3) | 0.57 | 0.46 | — | — | — | 11.34 | 4.28 | 403 | 1.99 | 5.96 | (1.01) | 74 | ||||||||||||||
06/30/21(2) | 11.34 | (0.20)(3) | 3.67 | 3.47 | — | — | — | 14.81 | 30.55 | 1,316 | 1.99 | 3.43 | (1.38) | 116(4) | ||||||||||||||
06/30/22 | 14.81 | (0.14) | (4.61) | (4.75) | — | — | — | 10.06 | (32.07) | 787 | 1.99 | 3.62 | (1.02) | 49 | ||||||||||||||
06/30/23 | 10.06 | (0.04)(3) | 0.84 | 0.80 | — | — | — | 10.86 | 7.95 | 697 | 1.99 | 3.70 | (0.44) | 38 | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
06/30/19(2) | $13.37 | $(0.01)(3) | $(0.49) | $(0.50) | $(0.01) | $ (1.51) | $(1.52) | $11.35 | (1.53)% | $2,341 | 0.99% | 1.89% | (0.06)% | 103% | ||||||||||||||
06/30/20(2) | 11.35 | (—)(3)(5) | 0.60 | 0.60 | — | — | — | 11.95 | 5.28 | 867 | 0.99 | 2.50 | (0.01) | 74 | ||||||||||||||
06/30/21(2) | 11.95 | (0.06)(3) | 3.88 | 3.82 | — | — | — | 15.77 | 31.88 | 74,507 | 0.99 | 1.25 | (0.38) | 116(4) | ||||||||||||||
06/30/22 | 15.77 | (—)(5) | (4.95) | (4.95) | — | — | — | 10.82 | (31.39) | 47,845 | 0.99 | 1.31 | (0.02) | 49 | ||||||||||||||
06/30/23 | 10.82 | 0.06(3) | 0.91 | 0.97 | (0.03) | — | (0.03) | 11.76 | 9.00 | 47,315 | 0.99 | 1.36 | 0.56 | 38 | ||||||||||||||
Institutional Class | ||||||||||||||||||||||||||||
06/30/19(2) | $13.46 | $0.01(3) | $(0.50) | $(0.49) | $(0.02) | $ (1.52) | $(1.54) | $11.43 | (1.46)% | $31,435 | 0.89% | 1.30% | 0.04% | 103% | ||||||||||||||
06/30/20(2) | 11.43 | 0.01(3) | 0.61 | 0.62 | (—)(5) | — | (—)(5) | 12.05 | 5.46 | 29,285 | 0.89 | 1.35 | 0.09 | 74 | ||||||||||||||
06/30/21(2) | 12.05 | (0.05)(3) | 3.91 | 3.86 | (0.02) | — | (0.02) | 15.89 | 32.00 | 23,334 | 0.89 | 1.20 | (0.28) | 116(4) | ||||||||||||||
06/30/22 | 15.89 | 0.03 | (5.01) | (4.98) | (—)(5) | — | (—)(5) | 10.91 | (31.34) | 11,224 | 0.89 | 1.32 | 0.08 | 49 | ||||||||||||||
06/30/23 | 10.91 | 0.07(3) | 0.92 | 0.99 | (0.04) | — | (0.04) | 11.86 | 9.16 | 11,850 | 0.89 | 1.38 | 0.66 | 38 |
(1) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(2) | During the year ended June 30, 2021, the Fund effected the following stock split effective the close of business September 11, 2020: 1.9160 for 1 for Class A shares, 1.9095 for 1 for Class C shares, 1.8839 for 1 for Class Y shares and 1.8777 for 1 for Institutional Class shares. All historical per share information has been retroactively adjusted to reflect this stock split. |
(3) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(4) | Portfolio turnover excludes the purchases and sales of securities of the Touchstone International Small Cap Fund acquired on September 11, 2020. If these transactions were included, portfolio turnover would have been higher. |
(5) | Less than $0.005 per share. |
Touchstone Large Cap Focused Fund | ||||||||||||||||||||||||||||
Period ended | Net asset value at beginning of period | Net investment income (loss) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Distributions from net investment income | Distributions from realized capital gains | Total distributions | Net asset value at end of period | Total return(1) | Net assets at end of period (000's) | Ratio of net expenses to average net assets(2) | Ratio of gross expenses to average net assets(3) | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||
Class A | ||||||||||||||||||||||||||||
06/30/19 | $43.80 | $0.38(4) | $3.72 | $4.10 | $(0.27) | $ (4.26) | $(4.53) | $43.37 | 10.51% | $1,170,490 | 0.97% | 1.09% | 0.88% | 15%(5) | ||||||||||||||
06/30/20 | 43.37 | 0.27 | 3.78 | 4.05 | (0.27) | (4.85) | (5.12) | 42.30 | 9.54 | 1,120,305 | 1.01 | 1.10 | 0.66 | 29(5) | ||||||||||||||
06/30/21 | 42.30 | 0.08(4) | 19.10 | 19.18 | (0.09) | (2.71) | (2.80) | 58.68 | 46.68 | 1,541,127 | 1.01 | 1.05 | 0.15 | 16(5) | ||||||||||||||
06/30/22 | 58.68 | 0.04 | (7.56) | (7.52) | (0.05) | (3.91) | (3.96) | 47.20 | (14.07) | 1,736,900 | 0.99 | 0.99 | 0.13 | 27(5)(6) | ||||||||||||||
06/30/23 | 47.20 | 0.21(4) | 9.72 | 9.93 | (0.08) | (0.68) | (0.76) | 56.37 | 21.28 | 1,928,303 | 1.01 | 1.02 | 0.43 | 4(5) | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
06/30/19 | $41.29 | $0.03(4) | $3.50 | $3.53 | $— | $ (4.26) | $(4.26) | $40.56 | 9.61% | $47,838 | 1.79% | 1.90% | 0.07% | 15%(5) | ||||||||||||||
06/30/20 | 40.56 | (0.19) | 3.64 | 3.45 | — | (4.85) | (4.85) | 39.16 | 8.69 | 37,450 | 1.82 | 1.94 | (0.15) | 29(5) | ||||||||||||||
06/30/21 | 39.16 | (0.30)(4) | 17.58 | 17.28 | — | (2.71) | (2.71) | 53.73 | 45.49 | 41,645 | 1.80 | 1.88 | (0.64) | 16(5) | ||||||||||||||
06/30/22 | 53.73 | (0.02) | (7.18) | (7.20) | — | (3.91) | (3.91) | 42.62 | (14.78) | 49,115 | 1.80 | 1.80 | (0.68) | 27(5)(6) | ||||||||||||||
06/30/23 | 42.62 | (0.16)(4) | 8.73 | 8.57 | — | (0.68) | (0.68) | 50.51 | 20.35 | 50,451 | 1.80 | 1.84 | (0.36) | 4(5) | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
06/30/19 | $43.68 | $0.48(4) | $3.71 | $4.19 | $(0.37) | $ (4.26) | $(4.63) | $43.24 | 10.81% | $413,137 | 0.73% | 0.89% | 1.13% | 15%(5) | ||||||||||||||
06/30/20 | 43.24 | 0.40 | 3.76 | 4.16 | (0.37) | (4.85) | (5.22) | 42.18 | 9.84 | 352,103 | 0.75 | 0.91 | 0.92 | 29(5) | ||||||||||||||
06/30/21 | 42.18 | 0.22(4) | 19.05 | 19.27 | (0.16) | (2.71) | (2.87) | 58.58 | 47.07 | 575,053 | 0.73 | 0.86 | 0.43 | 16(5) | ||||||||||||||
06/30/22 | 58.58 | 0.20 | (7.57) | (7.37) | (0.16) | (3.91) | (4.07) | 47.14 | (13.86) | 493,825 | 0.73 | 0.78 | 0.39 | 27(5)(6) | ||||||||||||||
06/30/23 | 47.14 | 0.35(4) | 9.72 | 10.07 | (0.16) | (0.68) | (0.84) | 56.37 | 21.65 | 670,688 | 0.73 | 0.81 | 0.71 | 4(5) | ||||||||||||||
Institutional Class | ||||||||||||||||||||||||||||
06/30/19 | $43.75 | $0.51(4) | $3.71 | $4.22 | $(0.40) | $ (4.26) | $(4.66) | $43.31 | 10.87% | $100,473 | 0.66% | 0.85% | 1.20% | 15%(5) | ||||||||||||||
06/30/20 | 43.31 | 0.35 | 3.83 | 4.18 | (0.40) | (4.85) | (5.25) | 42.24 | 9.87 | 127,963 | 0.71 | 0.88 | 0.96 | 29(5) | ||||||||||||||
06/30/21 | 42.24 | 0.23(4) | 19.10 | 19.33 | (0.17) | (2.71) | (2.88) | 58.69 | 47.14 | 207,274 | 0.70 | 0.81 | 0.46 | 16(5) | ||||||||||||||
06/30/22 | 58.69 | 0.26 | (7.63) | (7.37) | (0.18) | (3.91) | (4.09) | 47.23 | (13.85) | 217,531 | 0.70 | 0.73 | 0.42 | 27(5)(6) | ||||||||||||||
06/30/23 | 47.23 | 0.37(4) | 9.73 | 10.10 | (0.17) | (0.68) | (0.85) | 56.48 | 21.68 | 265,418 | 0.70 | 0.75 | 0.74 | 4(5) | ||||||||||||||
Class R6 | ||||||||||||||||||||||||||||
06/30/22(7) | $61.99 | $0.22 | $(10.89) | $(10.67) | $(0.16) | $ (3.91) | $(4.07) | $47.25 | (18.43)%(8) | $804 | 0.66%(9) | 3.02%(9) | 0.47%(9) | 27%(5)(6) | ||||||||||||||
06/30/23 | 47.25 | 0.39(4) | 9.74 | 10.13 | (0.17) | (0.68) | (0.85) | 56.53 | 21.73 | 20,862 | 0.66 | 1.19 | 0.78 | 4(5) |
(1) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(2) | The ratios shown include liquidity provider expenses. The ratio of net expenses to average net assets excluding liquidity provider expenses for Class A shares was 1.00%, 0.98%, 1.00%, 0.98% and 0.96%; for Class C shares was 1.79%, 1.79%, 1.79%, 1.79% and 1.78%; for Class Y shares was 0.72%, 0.72%, 0.72%, 0.72% and 0.72%; for Institutional Class shares was 0.69%, 0.69%, 0.69%, 0.68% and 0.65% for the years ended June 30, 2023, 2022, 2021, 2020 and 2019, respectively; and for Class R6 shares was 0.65% and 0.65% for the year ended June 30, 2023 and the period ended June 30, 2022, respectively. |
(3) | The ratios shown include liquidity provider expenses. The ratio of gross expenses to average net assets excluding liquidity provider expenses for Class A shares was 1.01%, 0.98%, 1.04%, 1.07% and 1.08%; for Class C shares was 1.83%, 1.79%, 1.87%, 1.91% and 1.89%; for Class Y shares was 0.80%, 0.77%, 0.85%, 0.88% and 0.88%; for Institutional Class shares was 0.74%, 0.72%, 0.80%, 0.85% and 0.84% for the years ended June 30, 2023, 2022, 2021, 2020 and 2019, respectively; and for Class R6 shares was 1.18% and 3.01% for the year ended June 30, 2023 and the period ended June 30, 2022, respectively. |
(4) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(5) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
(6) | Portfolio turnover excludes the purchases and sales of securities of the AIG Focused Alpha Large-Cap Fund acquired on July 16, 2021. If these transactions were included, portfolio turnover would have been higher. |
(7) | Represents the period from commencement of operations (October 28, 2021) through June 30, 2022 for Class R6. |
(8) | Not annualized. |
(9) | Annualized. |
Touchstone Large Cap Fund | ||||||||||||||||||||||||||||
Period ended | Net asset value at beginning of period | Net investment income (loss) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Distributions from net investment income | Distributions from realized capital gains | Total distributions | Net asset value at end of period | Total return(1) | Net assets at end of period (000's) | Ratio of net expenses to average net assets(2) | Ratio of gross expenses to average net assets(3) | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||
Class A | ||||||||||||||||||||||||||||
06/30/19 | $13.27 | $0.09(4) | $0.83 | $0.92 | $(0.08) | $ — | $(0.08) | $14.11 | 7.04% | $4,067 | 1.11% | 1.67% | 0.63% | 19%(5) | ||||||||||||||
06/30/20 | 14.11 | 0.15 | (0.24) | (0.09) | (0.11) | (0.87) | (0.98) | 13.04 | (1.18) | 2,989 | 1.03 | 1.91 | 1.03 | 20 | ||||||||||||||
06/30/21 | 13.04 | 0.11 | 4.83 | 4.94 | (0.12) | — | (0.12) | 17.86 | 38.06 | 4,278 | 1.04 | 1.53 | 0.75 | 15(5) | ||||||||||||||
06/30/22 | 17.86 | 0.08 | (2.03) | (1.95) | (0.12) | (0.40) | (0.52) | 15.39 | (11.44) | 4,510 | 1.05 | 1.48 | 0.51 | 12(5) | ||||||||||||||
06/30/23 | 15.39 | 0.12(4) | 2.28 | 2.40 | (0.02) | (0.57) | (0.59) | 17.20 | 15.96 | 5,259 | 1.06 | 1.42 | 0.75 | 17(5) | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
06/30/19 | $13.04 | $(0.02)(4) | $0.83 | $0.81 | $— | $ — | $— | $13.85 | 6.21% | $7,372 | 1.86% | 2.13% | (0.12)% | 19%(5) | ||||||||||||||
06/30/20 | 13.85 | 0.01 | (0.20) | (0.19) | — | (0.87) | (0.87) | 12.79 | (1.89) | 5,376 | 1.78 | 2.09 | 0.27 | 20 | ||||||||||||||
06/30/21 | 12.79 | (0.10) | 4.84 | 4.74 | — | — | — | 17.53 | 37.06 | 4,328 | 1.79 | 2.03 | (—)(6) | 15(5) | ||||||||||||||
06/30/22 | 17.53 | (0.10) | (1.96) | (2.06) | — | (0.40) | (0.40) | 15.07 | (12.15) | 2,995 | 1.80 | 2.12 | (0.24) | 12(5) | ||||||||||||||
06/30/23 | 15.07 | (—)(4)(6) | 2.23 | 2.23 | — | (0.57) | (0.57) | 16.73 | 15.10 | 2,036 | 1.81 | 2.17 | (—)(6) | 17(5) | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
06/30/19 | $13.31 | $0.12(4) | $0.84 | $0.96 | $(0.13) | $ — | $(0.13) | $14.14 | 7.31% | $213,650 | 0.86% | 0.99% | 0.88% | 19%(5) | ||||||||||||||
06/30/20 | 14.14 | 0.17 | (0.22) | (0.05) | (0.15) | (0.87) | (1.02) | 13.07 | (0.93) | 206,798 | 0.78 | 0.90 | 1.28 | 20 | ||||||||||||||
06/30/21 | 13.07 | 0.16 | 4.83 | 4.99 | (0.18) | — | (0.18) | 17.88 | 38.39 | 270,305 | 0.79 | 0.88 | 1.00 | 15(5) | ||||||||||||||
06/30/22 | 17.88 | 0.15 | (2.05) | (1.90) | (0.16) | (0.40) | (0.56) | 15.42 | (11.20) | 202,913 | 0.80 | 0.88 | 0.76 | 12(5) | ||||||||||||||
06/30/23 | 15.42 | 0.16(4) | 2.29 | 2.45 | (0.08) | (0.57) | (0.65) | 17.22 | 16.24 | 206,214 | 0.81 | 0.90 | 1.00 | 17(5) | ||||||||||||||
Institutional Class | ||||||||||||||||||||||||||||
06/30/19 | $13.33 | $0.14(4) | $0.83 | $0.97 | $(0.14) | $ — | $(0.14) | $14.16 | 7.43% | $59,211 | 0.77% | 0.92% | 0.98% | 19%(5) | ||||||||||||||
06/30/20 | 14.16 | 0.15 | (0.19) | (0.04) | (0.16) | (0.87) | (1.03) | 13.09 | (0.83) | 60,402 | 0.68 | 0.84 | 1.38 | 20 | ||||||||||||||
06/30/21 | 13.09 | 0.16 | 4.86 | 5.02 | (0.20) | — | (0.20) | 17.91 | 38.59 | 90,358 | 0.69 | 0.82 | 1.10 | 15(5) | ||||||||||||||
06/30/22 | 17.91 | 0.18 | (2.08) | (1.90) | (0.17) | (0.40) | (0.57) | 15.44 | (11.15) | 67,679 | 0.70 | 0.82 | 0.86 | 12(5) | ||||||||||||||
06/30/23 | 15.44 | 0.18(4) | 2.28 | 2.46 | (0.10) | (0.57) | (0.67) | 17.23 | 16.35 | 60,341 | 0.71 | 0.85 | 1.10 | 17(5) |
(1) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(2) | The ratios shown include liquidity provider expenses. The ratio of net expenses to average net assets excluding liquidity provider expenses for Class A shares was 1.03%, 1.03% and 1.03%; for Class C shares was 1.78%, 1.78% and 1.78%; for Class Y shares was 0.78%, 0.78% and 0.78%; and for Institutional Class shares was 0.68%, 0.68% and 0.68% for the years ended June 30, 2023, 2022 and 2021, respectively. |
(3) | The ratios shown include liquidity provider expenses. The ratio of gross expenses to average net assets excluding liquidity provider expenses for Class A shares was 1.39%, 1.46% and 1.52%; for Class C shares was 2.14%, 2.10% and 2.02%; for Class Y shares was 0.87%, 0.86% and 0.87%; and for Institutional Class shares was 0.82%, 0.80% and 0.81% for the years ended June 30, 2023, 2022 and 2021, respectively. |
(4) | The net investment income per share was based on average shares outstanding for the period. |
(5) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
(6) | Less than $0.005 per share or 0.005%. |
Touchstone Large Company Growth Fund | ||||||||||||||||||||||||||
Period ended | Net asset value at beginning of period | Net investment loss | Net realized and unrealized gains (losses) on investments | Total from investment operations | Distributions from realized capital gains | Total distributions | Net asset value at end of period | Total return(1) | Net assets at end of period (000's) | Ratio of net expenses to average net assets(2) | Ratio of gross expenses to average net assets(3) | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | |||||||||||||
Class A | ||||||||||||||||||||||||||
06/30/19 | $41.33 | $(0.56) | $4.42 | $3.86 | $ (2.69) | $(2.69) | $42.50 | 10.39% | $1,425 | 1.23% | 2.01% | (0.59)% | 41% | |||||||||||||
06/30/20 | 42.50 | (0.08) | 8.19 | 8.11 | (3.15) | (3.15) | 47.46 | 20.07 | 2,112 | 1.07 | 2.28 | (0.60) | 30 | |||||||||||||
06/30/21 | 47.46 | (0.15) | 16.56 | 16.41 | (6.61) | (6.61) | 57.26 | 37.33 | 3,617 | 1.06 | 1.59 | (0.71) | 36(4) | |||||||||||||
06/30/22 | 57.26 | (0.18) | (10.40) | (10.58) | (10.52) | (10.52) | 36.16 | (23.29) | 3,290 | 1.07 | 1.58 | (0.61) | 41(4) | |||||||||||||
06/30/23 | 36.16 | (0.17)(5) | 6.10 | 5.93 | (1.23) | (1.23) | 40.86 | 16.89 | 3,711 | 1.08 | 1.57 | (0.46) | 44(4) | |||||||||||||
Class C | ||||||||||||||||||||||||||
06/30/19 | $40.74 | $(0.40) | $3.87 | $3.47 | $ (2.69) | $(2.69) | $41.52 | 9.55% | $396 | 1.98% | 4.38% | (1.34)% | 41% | |||||||||||||
06/30/20 | 41.52 | (0.31) | 7.87 | 7.56 | (3.15) | (3.15) | 45.93 | 19.19 | 592 | 1.82 | 4.64 | (1.35) | 30 | |||||||||||||
06/30/21 | 45.93 | (1.42) | 16.81 | 15.39 | (6.61) | (6.61) | 54.71 | 36.28 | 473 | 1.81 | 3.39 | (1.46) | 36(4) | |||||||||||||
06/30/22 | 54.71 | (1.24) | (9.03) | (10.27) | (10.52) | (10.52) | 33.92 | (23.87) | 206 | 1.82 | 4.24 | (1.36) | 41(4) | |||||||||||||
06/30/23 | 33.92 | (0.42)(5) | 5.68 | 5.26 | (1.23) | (1.23) | 37.95 | 16.01 | 223 | 1.83 | 5.86 | (1.21) | 44(4) | |||||||||||||
Class Y | ||||||||||||||||||||||||||
06/30/19 | $41.53 | $(0.12) | $4.10 | $3.98 | $ (2.69) | $(2.69) | $42.82 | 10.66% | $19,580 | 0.98% | 1.16% | (0.34)% | 41% | |||||||||||||
06/30/20 | 42.82 | (0.12) | 8.42 | 8.30 | (3.15) | (3.15) | 47.97 | 20.38 | 24,062 | 0.82 | 1.04 | (0.35) | 30 | |||||||||||||
06/30/21 | 47.97 | (0.26) | 17.00 | 16.74 | (6.61) | (6.61) | 58.10 | 37.64 | 28,952 | 0.81 | 0.96 | (0.46) | 36(4) | |||||||||||||
06/30/22 | 58.10 | (0.18) | (10.49) | (10.67) | (10.52) | (10.52) | 36.91 | (23.09) | 13,917 | 0.82 | 0.97 | (0.36) | 41(4) | |||||||||||||
06/30/23 | 36.91 | (0.08)(5) | 6.24 | 6.16 | (1.23) | (1.23) | 41.84 | 17.17 | 7,266 | 0.83 | 1.07 | (0.21) | 44(4) | |||||||||||||
Institutional Class | ||||||||||||||||||||||||||
06/30/19 | $41.61 | $(0.10) | $4.13 | $4.03 | $ (2.69) | $(2.69) | $42.95 | 10.74% | $204,391 | 0.88% | 0.99% | (0.24)% | 41% | |||||||||||||
06/30/20 | 42.95 | (0.12) | 8.50 | 8.38 | (3.15) | (3.15) | 48.18 | 20.51 | 199,601 | 0.73 | 0.86 | (0.25) | 30 | |||||||||||||
06/30/21 | 48.18 | (0.21) | 17.10 | 16.89 | (6.61) | (6.61) | 58.46 | 37.80 | 229,690 | 0.71 | 0.85 | (0.36) | 36(4) | |||||||||||||
06/30/22 | 58.46 | (0.14) | (10.58) | (10.72) | (10.52) | (10.52) | 37.22 | (23.03) | 145,441 | 0.72 | 0.84 | (0.26) | 41(4) | |||||||||||||
06/30/23 | 37.22 | (0.04)(5) | 6.30 | 6.26 | (1.23) | (1.23) | 42.25 | 17.30 | 135,324 | 0.73 | 0.88 | (0.11) | 44(4) |
(1) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(2) | The ratios shown include liquidity provider expenses. The ratio of net expenses to average net assets excluding liquidity provider expenses for Class A shares was 1.04%, 1.04% and 1.04%; for Class C shares was 1.79%, 1.79% and 1.79%; for Class Y shares was 0.79%, 0.79% and 0.79%; and for Institutional Class shares was 0.69%, 0.69% and 0.69% for the years ended June 30, 2023, 2022 and 2021, respectively. |
(3) | The ratios shown include liquidity provider expenses. The ratio of gross expenses to average net assets excluding liquidity provider expenses for Class A shares was 1.53%, 1.55% and 1.57%; for Class C shares was 5.82%, 4.21% and 3.37%; for Class Y shares was 1.03%, 0.94% and 0.94%; and for Institutional Class shares was 0.84%, 0.81% and 0.83% and for the years ended June 30, 2023, 2022 and 2021, respectively. |
(4) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
(5) | The net investment income per share was based on average shares outstanding for the period. |
Touchstone Small Company Fund | ||||||||||||||||||||||||||||
Period ended | Net asset value at beginning of period | Net investment income (loss) | Net realized and unrealized gains (losses) on investments | Total from investment operations | Distributions from net investment income | Distributions from realized capital gains | Total distributions | Net asset value at end of period | Total return(1) | Net assets at end of period (000's) | Ratio of net expenses to average net assets(2) | Ratio of gross expenses to average net assets(3) | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||
Class A | ||||||||||||||||||||||||||||
06/30/19 | $5.53 | $(0.01) | $(0.07) | $(0.08) | $— | $ (0.62) | $(0.62) | $4.83 | (0.73)% | $589,664 | 1.12% | 1.20% | (0.26)% | 94%(4)(5) | ||||||||||||||
06/30/20 | 4.83 | (0.02) | (0.47) | (0.49) | — | (0.28) | (0.28) | 4.06 | (10.82) | 420,822 | 1.15 | 1.24 | (0.32) | 81 | ||||||||||||||
06/30/21 | 4.06 | (0.03) | 2.65 | 2.62 | — | (0.01) | (0.01) | 6.67 | 64.45 | 608,513 | 1.20 | 1.20 | (0.45) | 80(4) | ||||||||||||||
06/30/22 | 6.67 | (0.02)(6) | (0.95) | (0.97) | — | (1.14) | (1.14) | 4.56 | (17.95) | 451,081 | 1.17 | 1.17 | (0.31) | 70(4) | ||||||||||||||
06/30/23 | 4.56 | (—)(6)(7) | 0.71 | 0.71 | — | (0.12) | (0.12) | 5.15 | 15.80 | 484,105 | 1.19 | 1.19 | (—)(7) | 79(4) | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
06/30/19^ | $8.52 | $(0.13) | $(0.10) | $(0.23) | $— | $ (1.64) | $(1.64) | $6.65 | (1.65)% | $39,390 | 1.88% | 1.96% | (1.01)% | 94%(4)(5) | ||||||||||||||
06/30/20^ | 6.65 | (0.13) | (0.53) | (0.66) | — | (0.74) | (0.74) | 5.25 | (11.22) | 21,204 | 1.95 | 2.07 | (1.12) | 81 | ||||||||||||||
06/30/21^ | 5.25 | (0.11) | 3.41 | 3.30 | — | (0.03) | (0.03) | 8.52 | 62.65 | 26,123 | 1.97 | 2.05 | (1.22) | 80(4) | ||||||||||||||
06/30/22^ | 8.52 | (0.08)(6) | (0.89) | (0.97) | — | (3.01) | (3.01) | 4.54 | (18.70) | 17,385 | 1.97 | 2.02 | (1.11) | 70(4) | ||||||||||||||
06/30/23^ | 4.54 | (0.03)(6) | 0.71 | 0.68 | — | (0.12) | (0.12) | 5.10 | 15.26 | 15,992 | 1.96 | 2.06 | (0.77) | 79(4) | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
06/30/19 | $6.04 | $(—)(7) | $(0.09) | $(0.09) | $(—)(7) | $ (0.62) | $(0.62) | $5.33 | (0.79)% | $326,021 | 0.87% | 0.95% | —%(7) | 94%(4)(5) | ||||||||||||||
06/30/20 | 5.33 | (—)(7) | (0.52) | (0.52) | — | (0.28) | (0.28) | 4.53 | (10.35) | 189,336 | 0.89 | 0.98 | (0.06) | 81 | ||||||||||||||
06/30/21 | 4.53 | (0.01) | 2.94 | 2.93 | (—)(7) | (0.01) | (0.01) | 7.45 | 64.61 | 282,428 | 0.91 | 0.99 | (0.16) | 80(4) | ||||||||||||||
06/30/22 | 7.45 | (—)(6)(7) | (1.10) | (1.10) | — | (1.14) | (1.14) | 5.21 | (17.81) | 222,141 | 0.91 | 0.97 | (0.05) | 70(4) | ||||||||||||||
06/30/23 | 5.21 | 0.02(6) | 0.82 | 0.84 | — | (0.12) | (0.12) | 5.93 | 16.33 | 312,720 | 0.90 | 0.98 | 0.29 | 79(4) | ||||||||||||||
Institutional Class | ||||||||||||||||||||||||||||
06/30/19 | $6.04 | $—(7) | $(0.10) | $(0.10) | $(—)(7) | $ (0.62) | $(0.62) | $5.32 | (0.91)% | $2,216 | 0.79% | 2.52% | 0.08% | 94%(4)(5) | ||||||||||||||
06/30/20 | 5.32 | —(7) | (0.52) | (0.52) | — | (0.28) | (0.28) | 4.52 | (10.37) | 11,269 | 0.79 | 1.13 | 0.05 | 81 | ||||||||||||||
06/30/21 | 4.52 | (—)(7) | 2.93 | 2.93 | (—)(7) | (0.01) | (0.01) | 7.44 | 64.75 | 18,770 | 0.81 | 0.99 | (0.06) | 80(4) | ||||||||||||||
06/30/22 | 7.44 | —(6)(7) | (1.09) | (1.09) | — | (1.14) | (1.14) | 5.21 | (17.70) | 21,299 | 0.81 | 0.96 | 0.05 | 70(4) | ||||||||||||||
06/30/23 | 5.21 | 0.02(6) | 0.83 | 0.85 | — | (0.12) | (0.12) | 5.94 | 16.52 | 24,638 | 0.80 | 0.96 | 0.39 | 79(4) | ||||||||||||||
Class R6 | ||||||||||||||||||||||||||||
06/30/19 | $5.65 | $0.01 | $(0.08) | $(0.07) | $(0.01) | $ (0.62) | $(0.63) | $4.95 | (0.59)% | $137,585 | 0.73% | 0.84% | 0.14% | 94%(4)(5) | ||||||||||||||
06/30/20 | 4.95 | 0.01 | (0.49) | (0.48) | — | (0.28) | (0.28) | 4.19 | (10.35) | 64,567 | 0.76 | 0.88 | 0.07 | 81 | ||||||||||||||
06/30/21 | 4.19 | (—)(7) | 2.73 | 2.73 | (—)(7) | (0.01) | (0.01) | 6.91 | 65.08 | 63,766 | 0.81 | 0.89 | (0.06) | 80(4) | ||||||||||||||
06/30/22 | 6.91 | —(6)(7) | (1.00) | (1.00) | — | (1.14) | (1.14) | 4.77 | (17.73) | 53,500 | 0.81 | 0.87 | 0.05 | 70(4) | ||||||||||||||
06/30/23 | 4.77 | 0.02(6) | 0.75 | 0.77 | — | (0.12) | (0.12) | 5.42 | 16.37 | 65,962 | 0.80 | 0.88 | 0.39 | 79(4) |
^ | Updated to reflect the effect of a 1 for 0.379048 reverse stock split for Class C shares on October 14, 2022 (See Note 9 in the Notes to Financial Statements). All historical per share information has been retroactively adjusted to reflect this reverse stock split. |
(1) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(2) | The ratios shown include liquidity provider expenses. The ratio of net expenses to average net assets excluding liquidity provider expenses for Class A shares was 1.18%, 1.15% and 1.18%; for Class C shares was 1.95%, 1.95% and 1.95%; for Class Y shares was 0.89%, 0.89% and 0.89%; for Institutional Class shares was 0.79%, 0.79% and 0.79%; and for Class R6 shares was 0.79%, 0.79% and 0.79% for the years ended June 30,2023, 2022 and 2021, respectively. |
(3) | The ratios shown include liquidity provider expenses. The ratio of gross expenses to average net assets excluding liquidity provider expenses for Class A shares was 1.18%, 1.15% and 1.18%; for Class C shares was 2.05%, 2.00% and 2.03%; for Class Y shares was 0.97%, 0.95% and 0.97%; for Institutional Class shares was 0.95%, 0.94% and 0.97%; and for Class R6 shares was 0.87%, 0.85% and 0.87% for the years ended June 30,2023, 2022 and 2021, respectively. |
(4) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
(5) | Portfolio turnover excludes the purchases and sales of securities by the Touchstone Small Cap Growth Fund acquired on September 21, 2018. If these transactions were included, portfolio turnover would have been higher. |
(6) | The net investment income per share was based on average shares outstanding for the period. |
(7) | Less than $0.005 per share or 0.005%. |
Touchstone Value Fund | ||||||||||||||||||||||||||||
Period ended | Net asset value at beginning of period | Net investment income | Net realized and unrealized gains (losses) on investments | Total from investment operations | Distributions from net investment income | Distributions from realized capital gains | Total distributions | Net asset value at end of period | Total return(1) | Net assets at end of period (000's) | Ratio of net expenses to average net assets | Ratio of gross expenses to average net assets | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||
Class A | ||||||||||||||||||||||||||||
06/30/19 | $9.92 | $0.16 | $0.57 | $0.73 | $(0.16) | $ (1.08) | $(1.24) | $9.41 | 8.53% | $32,964 | 1.08% | 1.26% | 1.67% | 37%(2) | ||||||||||||||
06/30/20 | 9.41 | 0.13 | (0.98) | (0.85) | (0.12) | (0.49) | (0.61) | 7.95 | (9.83) | 24,567 | 1.08 | 1.26 | 1.37 | 57 | ||||||||||||||
06/30/21 | 7.95 | 0.10 | 3.62 | 3.72 | (0.10) | (0.16) | (0.26) | 11.41 | 47.49 | 33,052 | 1.08 | 1.24 | 1.08 | 37 | ||||||||||||||
06/30/22 | 11.41 | 0.11 | (0.63) | (0.52) | (0.12) | (0.85) | (0.97) | 9.92 | (5.30) | 156,947 | 1.08 | 1.13 | 1.03 | 63(3) | ||||||||||||||
06/30/23 | 9.92 | 0.14 | 0.93 | 1.07 | (0.14) | (0.60) | (0.74) | 10.25 | 11.07 | 158,698 | 1.08 | 1.12 | 1.34 | 30(2) | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
06/30/19 | $9.89 | $0.09 | $0.56 | $0.65 | $(0.08) | $ (1.08) | $(1.16) | $9.38 | 7.72% | $3,175 | 1.83% | 2.35% | 0.92% | 37%(2) | ||||||||||||||
06/30/20 | 9.38 | 0.06 | (0.97) | (0.91) | (0.05) | (0.49) | (0.54) | 7.93 | (10.49) | 2,175 | 1.83 | 2.43 | 0.62 | 57 | ||||||||||||||
06/30/21 | 7.93 | 0.03 | 3.61 | 3.64 | (0.03) | (0.16) | (0.19) | 11.38 | 46.40 | 1,943 | 1.83 | 2.46 | 0.33 | 37 | ||||||||||||||
06/30/22 | 11.38 | 0.02 | (0.64) | (0.62) | (0.03) | (0.85) | (0.88) | 9.88 | (6.11) | 5,722 | 1.83 | 2.08 | 0.28 | 63(3) | ||||||||||||||
06/30/23 | 9.88 | 0.06 | 0.94 | 1.00 | (0.06) | (0.60) | (0.66) | 10.22 | 10.35 | 3,721 | 1.83 | 2.05 | 0.59 | 30(2) | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
06/30/19 | $9.96 | $0.19 | $0.57 | $0.76 | $(0.19) | $ (1.08) | $(1.27) | $9.45 | 8.82% | $92,928 | 0.79% | 0.94% | 1.96% | 37%(2) | ||||||||||||||
06/30/20 | 9.45 | 0.15 | (0.98) | (0.83) | (0.15) | (0.49) | (0.64) | 7.98 | (9.64) | 75,028 | 0.80 | 0.96 | 1.64 | 57 | ||||||||||||||
06/30/21 | 7.98 | 0.13 | 3.64 | 3.77 | (0.13) | (0.16) | (0.29) | 11.46 | 47.93 | 100,542 | 0.83 | 0.95 | 1.33 | 37 | ||||||||||||||
06/30/22 | 11.46 | 0.14 | (0.64) | (0.50) | (0.14) | (0.85) | (0.99) | 9.97 | (5.06) | 86,615 | 0.83 | 0.88 | 1.28 | 63(3) | ||||||||||||||
06/30/23 | 9.97 | 0.16 | 0.94 | 1.10 | (0.16) | (0.60) | (0.76) | 10.31 | 11.39 | 85,516 | 0.83 | 0.88 | 1.59 | 30(2) | ||||||||||||||
Institutional Class | ||||||||||||||||||||||||||||
06/30/19 | $9.93 | $0.20 | $0.57 | $0.77 | $(0.20) | $ (1.08) | $(1.28) | $9.42 | 8.96% | $208,686 | 0.68% | 0.89% | 2.07% | 37%(2) | ||||||||||||||
06/30/20 | 9.42 | 0.16 | (0.97) | (0.81) | (0.16) | (0.49) | (0.65) | 7.96 | (9.43) | 153,945 | 0.68 | 0.90 | 1.77 | 57 | ||||||||||||||
06/30/21 | 7.96 | 0.14 | 3.63 | 3.77 | (0.14) | (0.16) | (0.30) | 11.43 | 48.12 | 289,120 | 0.68 | 0.88 | 1.48 | 37 | ||||||||||||||
06/30/22 | 11.43 | 0.16 | (0.65) | (0.49) | (0.16) | (0.85) | (1.01) | 9.93 | (5.02) | 252,281 | 0.68 | 0.83 | 1.43 | 63(3) | ||||||||||||||
06/30/23 | 9.93 | 0.18 | 0.94 | 1.12 | (0.18) | (0.60) | (0.78) | 10.27 | 11.62 | 222,825 | 0.68 | 0.80 | 1.74 | 30(2) | ||||||||||||||
Class R6 | ||||||||||||||||||||||||||||
06/30/22(4) | $11.91 | $0.11 | $(1.11) | $(1.00) | $(0.13) | $ (0.85) | $(0.98) | $9.93 | (9.10)%(5) | $395 | 0.63%(6) | 8.11%(6) | 1.47%(6) | 63%(3) | ||||||||||||||
06/30/23 | 9.93 | 0.16 | 0.96 | 1.12 | (0.18) | (0.60) | (0.78) | 10.27 | 11.64 | 25,657 | 0.63 | 0.91 | 1.79 | 30(2) |
(1) | Total returns shown exclude the effect of applicable sales loads and fees. If these charges were included, the returns would be lower. |
(2) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
(3) | Portfolio turnover excludes the purchases and sales of securities of the AIG Strategic Value Fund acquired on July 16, 2021. If these transactions were included, portfolio turnover would have been higher. |
(4) | Represents the period from commencement of operations (October 28, 2021) through June 30, 2022 for Class R6. |
(5) | Not annualized. |
(6) | Annualized. |
Touchstone Balanced Fund ("Balanced Fund”) |
Touchstone Core Municipal Bond Fund ("Core Municipal Bond Fund”) |
Touchstone International Equity Fund ("International Equity Fund”) |
Touchstone International Growth Fund ("International Growth Fund”) |
Touchstone Large Cap Focused Fund ("Large Cap Focused Fund”) |
Touchstone Large Cap Fund ("Large Cap Fund”) |
Touchstone Large Company Growth Fund ("Large Company Growth Fund”) |
Touchstone Small Company Fund ("Small Company Fund”) |
Touchstone Value Fund ("Value Fund”) |
Class A | Class C | Class Y | Institutional Class | Class R6 | |
Balanced Fund | X | X | X | X | |
Core Municipal Bond Fund | X | X | X | X | |
International Equity Fund | X | X | X | X | |
International Growth Fund | X | X | X | X | |
Large Cap Focused Fund | X | X | X | X | X |
Large Cap Fund | X | X | X | X | |
Large Company Growth Fund | X | X | X | X | |
Small Company Fund | X | X | X | X | X |
Value Fund | X | X | X | X | X |
(1) | market value of investment securities, assets and liabilities at the current rate of exchange on the valuation date; and |
(2) | purchases and sales of investment securities, income, and expenses at the relevant rates of exchange prevailing on the respective dates of such transactions. |
Fund | Derivatives not accounted for as hedging instruments under ASC 815 | Asset Derivatives | Liability Derivatives |
Balanced Fund | Swap Agreements - Credit Contracts* | $— | $150,200 |
Futures Contracts - Interest Rate Contracts** | 147,280 | 1,084,850 |
* | Statements of Assets and Liabilities Location: Payable for variation margin on swap agreements. Variation margin reported in the Portfolio of Investments and other tables in the Notes to the Financial Statements is the cumulative unrealized appreciation (depreciation). |
** | Statements of Assets and Liabilities Location: Payable for variation margin on futures contracts. Only current day’s variation margin is reported within the payable/receivable on the Statement of Assets and Liabilities. Includes cumulative appreciation/(depreciation) on futures contracts as reported on the Portfolio of Investments and within the components of net assets section of the Statement of Assets and Liabilities. |
Fund | Derivatives not accounted for as hedging instruments under ASC 815 | Realized Gains (Losses) on Derivatives | Change in Unrealized Appreciation (Depreciation) on Derivatives |
Balanced Fund | Futures - Interest Rate Contracts* | $(188,208) | $(937,570) |
Swap Agreements - Credit Contracts** | 36,476 | (150,200) |
* | Statements of Operations Location: Net realized losses on futures contracts and Net change in unrealized appreciation (depreciation) on futures contracts, respectively. |
** | Statements of Operations Location: Net realized gains on swap agreements and Net change in unrealized appreciation (depreciation) on swap agreements, respectively. |
Balanced Fund | |
Credit Contracts: | |
Credit Default Swaps (buy protection) - Notional value | $4,088,000 |
Interest Rate Contracts: | |
Futures Contracts (long) - Notional Value | 32,959,981 |
Futures Contracts (short) - Notional Value | 5,634,567 |
Fund | Security Type | Market Value of Securities Loaned* | Market Value of Collateral Received** | Net Amount*** |
Balanced Fund | Corporate Bonds | $1,354,900 | $1,390,875 | $35,975 |
* | The remaining contractual maturity is overnight for all securities. |
** | Gross amount of recognized liabilities for securities lending included in the Statements of Assets and Liabilities. |
*** | Net amount represents the net amount payable due to (received from) the borrower in the event of default. |
Balanced Fund* | Core Municipal Bond Fund | International Equity Fund | International Growth Fund | |
Purchases of investment securities | $49,366,640 | $28,183,379 | $30,799,012 | $21,946,839 |
Proceeds from sales and maturities | $108,197,207 | $32,701,899 | $33,870,984 | $22,347,894 |
Large Cap Focused Fund* | Large Cap Fund* | Large Company Growth Fund* | Small Company Fund* | Value Fund* | |
Purchases of investment securities | $96,937,682 | $45,633,861 | $66,777,694 | $680,561,499 | $150,084,987 |
Proceeds from sales and maturities | $97,150,651 | $50,194,950 | $71,433,329 | $644,709,445 | $187,339,193 |
* | The Balanced Fund, the Large Cap Focused Fund, the Large Cap Fund, the Large Company Growth Fund, the Small Company Fund and the Value Fund had redemption-in-kinds out of the Fund of $22,961,143, $110,088,148, $32,913,594, $26,290,835, $29,154,171 and $9,649,547, respectively, which are excluded from the proceeds from sales and maturities. |
Balanced Fund | 0.55% on the first $200 million 0.50% on the next $200 million 0.45% on the next $600 million 0.40% on the next $1 billion 0.35% on assets in excess of $2 billion |
Core Municipal Bond Fund | 0.40% on the first $300 million 0.30% on assets in excess of $300 million |
International Equity Fund | 0.70% on the first $500 million 0.65% on the next $300 million 0.60% on the next $200 million 0.50% on the next $1 billion 0.40% on assets in excess of $2 billion |
International Growth Fund | 0.80% on the first $1 billion 0.75% on the next $500 million 0.70% on the next $500 million 0.65% on assets in excess of $2 billion |
Large Cap Focused Fund | 0.70% on the first $500 million 0.65% on the next $300 million 0.60% on the next $200 million 0.50% on the next $1 billion 0.40% on assets in excess of $2 billion |
Large Cap Fund | 0.60% on the first $500 million 0.54% on the next $500 million 0.50% on assets in excess of $1 billion |
Large Company Growth Fund | 0.60% on all assets |
Small Company Fund | 0.70% on the first $500 million 0.65% on the next $300 million 0.60% on the next $200 million 0.50% on the next $1 billion 0.40% on assets in excess of $2 billion |
Value Fund | 0.65% on the first $200 million 0.55% on assets in excess of $200 million |
Barrow, Hanley, Mewhinney & Strauss, LLC d/b/a Barrow Hanley Global Investors | London Company of Virginia d/b/a The London Company |
Value Fund | Large Cap Fund |
DSM Capital Partners LLC | Fort Washington Investment Advisors, Inc.* |
International Growth Fund | Balanced Fund |
Large Company Growth Fund | International Equity Fund |
Sage Advisory Services, Ltd Co. | Large Cap Focused Fund |
Core Municipal Bond Fund | Small Company Fund |
Class A | Class C | Class Y | Institutional Class | Class R6 | Termination Date | |
Balanced Fund | 1.01% | 1.78% | 0.81% | — | 0.64% | October 29, 2023 |
Core Municipal Bond Fund | 0.80% | 1.55% | 0.55% | 0.48% | — | October 29, 2023 |
International Equity Fund | 1.36% | 1.99% | 0.99% | 0.89% | — | October 29, 2023 |
International Growth Fund | 1.24% | 1.99% | 0.99% | 0.89% | — | October 29, 2023 |
Large Cap Focused Fund | 1.00% | 1.79% | 0.72% | 0.69% | 0.65% | October 29, 2023 |
Large Cap Fund | 1.03% | 1.78% | 0.78% | 0.68% | — | October 29, 2023 |
Large Company Growth Fund | 1.04% | 1.79% | 0.79% | 0.69% | — | October 29, 2023 |
Small Company Fund | 1.22% | 1.95% | 0.89% | 0.79% | 0.79% | October 29, 2023 |
Value Fund | 1.08% | 1.83% | 0.83% | 0.68% | 0.63% | October 29, 2023 |
Fund | Investment Advisory Fees Waived | Administration Fees Waived | Other Operating Expenses Reimbursed/ Waived | Total |
Balanced Fund | $— | $34 | $6,349 | $6,383 |
Core Municipal Bond Fund | — | 41,027 | 113,392 | 154,419 |
International Equity Fund | — | 9,947 | 130,138 | 140,085 |
International Growth Fund | — | 80,139 | 180,074 | 260,213 |
Large Cap Focused Fund | — | 17,762 | 741,836 | 759,598 |
Large Cap Fund | — | 86,705 | 208,913 | 295,618 |
Large Company Growth Fund | — | 149,644 | 119,915 | 269,559 |
Small Company Fund | — | 45,316 | 270,857 | 316,173 |
Value Fund | — | 210,364 | 248,410 | 458,774 |
Fund | Expires on or before June 30, 2024 | Expires on or before June 30, 2025 | Expires on or before June 30, 2026 | Total |
Balanced Fund | $— | $4,428 | $6,383 | $10,811 |
Core Municipal Bond Fund | 73,030 | 99,819 | 85,859 | 258,708 |
International Equity Fund | 67,613 | 64,511 | 61,315 | 193,439 |
International Growth Fund | 255,371 | 302,133 | 250,332 | 807,836 |
Large Cap Focused Fund | 757,813 | 413,033 | 562,231 | 1,733,077 |
Large Cap Fund | 338,365 | 321,303 | 274,546 | 934,214 |
Large Company Growth Fund | 357,163 | 309,075 | 258,765 | 925,003 |
Small Company Fund | 262,375 | 229,745 | 299,021 | 791,141 |
Value Fund | 515,267 | 498,918 | 385,367 | 1,399,552 |
Fund | Amount |
Balanced Fund | $ 43,106 |
Core Municipal Bond Fund | 263 |
International Equity Fund | 1,945 |
International Growth Fund | 155 |
Large Cap Focused Fund | 33,370 |
Large Cap Fund | 1,089 |
Large Company Growth Fund | 759 |
Small Company Fund | 18,977 |
Value Fund | 4,701 |
Fund | Class A | Class C |
Balanced Fund | $ 156 | $ 1,038 |
International Equity Fund | — | 23 |
Large Cap Focused Fund | 308 | 153 |
Small Company Fund | 120 | 141 |
Value Fund | 32 | 42 |
Fund | Shares ReFlow Subscribed to | Redemptions-in-kind |
Balanced Fund | 1,174,726 | $ 22,961,143 |
Large Cap Focused Fund | 3,047,397 | 110,088,148 |
Large Cap Fund | 2,228,253 | 32,913,594 |
Large Company Growth Fund | 811,568 | 26,290,835 |
Small Company Fund | 8,697,772 | 29,154,171 |
Fund | Daily Average Amount Loaned | Weighted Average Interest Rate | Interest Income* |
Large Cap Focused Fund | $ 160,194 | 5.03% | $ 8,519 |
* | Included in Interest in the Statements of Operations. |
Fund | Daily Average Amount Borrowed | Weighted Average Interest Rate | Interest Expense* |
Large Company Growth Fund | $ 19,205 | 5.65% | $ 1,099 |
* | Included in Other expenses in the Statements of Operations. |
Balanced Fund | Core Municipal Bond Fund | International Equity Fund | ||||
Year Ended June 30, 2023 | Year Ended June 30, 2022 | Year Ended June 30, 2023 | Year Ended June 30, 2022 | Year Ended June 30, 2023 | Year Ended June 30, 2022 | |
From ordinary income | $9,279,479 | $7,937,924 | $51,389 | $— | $1,589,590 | $6,873,595 |
From tax-exempt income | — | — | 1,273,902 | 1,004,748 | — | — |
From long-term capital gains | — | 19,917,546 | — | 37,471 | — | 10,153,319 |
Total distributions | $9,279,479 | $27,855,470 | $1,325,291 | $1,042,219 | $1,589,590 | $17,026,914 |
International Growth Fund | Large Cap Focused Fund | Large Cap Fund | ||||
Year Ended June 30, 2023 | Year Ended June 30, 2022 | Year Ended June 30, 2023 | Year Ended June 30, 2022 | Year Ended June 30, 2023 | Year Ended June 30, 2022 | |
From ordinary income | $162,914 | $362 | $13,237,610 | $39,814,540 | $1,812,385 | $3,996,630 |
From long-term capital gains | — | — | 26,814,979 | 170,287,074 | 9,064,294 | 6,966,746 |
Total distributions | $162,914 | $362 | $40,052,589 | $210,101,614 | $10,876,679 | $10,963,376 |
Large Company Growth Fund | Small Company Fund | Value Fund | ||||
Year Ended June 30, 2023 | Year Ended June 30, 2022 | Year Ended June 30, 2023 | Year Ended June 30, 2022 | Year Ended June 30, 2023 | Year Ended June 30, 2022 | |
From ordinary income | $— | $2,681,389 | $48,824 | $48,143,409 | $11,174,379 | $15,794,980 |
From long-term capital gains | 4,964,537 | 45,210,640 | 19,728,744 | 116,754,602 | 26,524,891 | 33,693,432 |
Total distributions | $4,964,537 | $47,892,029 | $19,777,568 | $164,898,011 | $37,699,270 | $49,488,412 |
Balanced Fund | Core Municipal Bond Fund | International Equity Fund | International Growth Fund | Large Cap Focused Fund | |
Tax cost of portfolio investments | $673,616,425 | $54,788,107 | $100,119,675 | $54,947,611 | $1,765,433,925 |
Gross unrealized appreciation on investments | 184,966,683 | 398,268 | 22,299,464 | 11,490,509 | 1,258,798,115 |
Gross unrealized depreciation on investments | (47,074,559) | (1,932,772) | (8,699,469) | (5,384,940) | (88,890,574) |
Net unrealized appreciation (depreciation) on investments | 137,892,124 | (1,534,504) | 13,599,995 | 6,105,569 | 1,169,907,541 |
Gross unrealized appreciation on foreign currency transactions | 24 | — | 251 | 22 | — |
Gross unrealized depreciation on foreign currency transactions | (17) | — | (8,759) | (35,329) | — |
Net unrealized appreciation (depreciation) on foreign currency transactions and deferred foreign capital gains tax | 7 | — | (8,508) | (35,307) | — |
Capital loss carryforwards | (6,512,804) | (1,251,573) | (72,477,511) | (13,939,396) | — |
Qualified late year losses | (150,200) | — | — | — | — |
Undistributed ordinary income | — | — | 260,665 | 166,245 | 12,019,168 |
Undistributed tax-exempt income | — | 1,101 | — | — | — |
Other temporary differences | (164,648) | (9,142) | — | — | — |
Accumulated earnings (deficit) | $131,064,479 | $(2,794,118) | $(58,625,359) | $(7,702,889) | $1,181,926,709 |
Large Cap Fund | Large Company Growth Fund | Small Company Fund | Value Fund | |
Tax cost of portfolio investments | $168,379,259 | $106,075,072 | $737,399,842 | $417,832,051 |
Gross unrealized appreciation on investments | 107,378,857 | 46,374,983 | 207,216,243 | 102,659,551 |
Gross unrealized depreciation on investments | (1,914,301) | (4,793,633) | (34,863,815) | (24,173,154) |
Net unrealized appreciation (depreciation) on investments | 105,464,556 | 41,581,350 | 172,352,428 | 78,486,397 |
Gross unrealized depreciation on foreign currency transactions | — | — | (52) | — |
Net unrealized appreciation (depreciation) on foreign currency transactions and deferred foreign capital gains tax | — | — | (52) | — |
Qualified late year losses | — | (98,128) | — | — |
Undistributed ordinary income | 2,737,736 | — | — | — |
Undistributed capital gains | 904,105 | 5,206,518 | 1,429,745 | 4,055,286 |
Other temporary differences | — | — | 2 | — |
Accumulated earnings (deficit) | $109,106,397 | $46,689,740 | $173,782,123 | $82,541,683 |
Fund | No Expiration Short Term | No Expiration Long Term | Total |
Balanced Fund | $ 5,094,920 | $ 1,417,884 | $ 6,512,804 |
Core Municipal Bond Fund | 1,251,573 | — | 1,251,573 |
International Equity Fund* | 35,241,060 | 37,236,451 | 72,477,511 |
International Growth Fund | 7,604,597 | 6,334,799 | 13,939,396 |
* | Future utilization may be limited under current tax laws. |
Fund | Realized Capital Losses | Ordinary Losses | Total |
Balanced Fund | $ — | $ 150,200 | $ 150,200 |
Large Company Growth Fund | — | 98,128 | 98,128 |
Fund | Paid-In Capital | Distributable Earnings |
Balanced Fund | $ 15,809,148 | $ (15,809,148) |
Large Cap Focused Fund | 64,781,485 | (64,781,485) |
Large Cap Fund | 15,437,498 | (15,437,498) |
Large Company Growth Fund | 13,091,747 | (13,091,747) |
Small Company Fund | 9,796,680 | (9,796,680) |
Value Fund | 6,682,806 | (6,682,806) |
Balanced Fund | 68.52 % |
International Equity Fund | 100.00 % |
International Growth Fund | 100.00 % |
Large Cap Focused Fund | 100.00 % |
Large Cap Fund | 100.00 % |
Small Company Fund | 100.00 % |
Value Fund | 100.00 % |
Balanced Fund | 64.82 % |
International Growth Fund | 4.25 % |
Large Cap Focused Fund | 100.00 % |
Large Cap Fund | 100.00 % |
Small Company Fund | 100.00 % |
Value Fund | 100.00 % |
Large Cap Focused Fund | $ 30,212,257 |
Large Cap Fund | $ 11,214,637 |
Large Company Growth Fund | $ 8,912,531 |
Small Company Fund | $ 19,728,744 |
Value Fund | $ 29,964,974 |
Net Expense Ratio Annualized June 30, 2023 | Beginning Account Value January 1, 2023 | Ending Account Value June 30, 2023 | Expenses Paid During the Six Months Ended June 30, 2023* | ||
Balanced Fund | |||||
Class A | Actual | 1.01% | $1,000.00 | $1,126.30 | $5.32** |
Class A | Hypothetical | 1.01% | $1,000.00 | $1,019.79 | $5.06** |
Class C | Actual | 1.77% | $1,000.00 | $1,121.80 | $9.31** |
Class C | Hypothetical | 1.77% | $1,000.00 | $1,016.02 | $8.85** |
Class Y | Actual | 0.78% | $1,000.00 | $1,127.40 | $4.11** |
Class Y | Hypothetical | 0.78% | $1,000.00 | $1,020.93 | $3.91** |
Class R6 | Actual | 0.64% | $1,000.00 | $1,128.20 | $3.38** |
Class R6 | Hypothetical | 0.64% | $1,000.00 | $1,021.62 | $3.21** |
Core Municipal Bond Fund | |||||
Class A | Actual | 0.80% | $1,000.00 | $1,021.60 | $4.01 |
Class A | Hypothetical | 0.80% | $1,000.00 | $1,020.83 | $4.01 |
Class C | Actual | 1.55% | $1,000.00 | $1,017.70 | $7.75 |
Class C | Hypothetical | 1.55% | $1,000.00 | $1,017.11 | $7.75 |
Class Y | Actual | 0.55% | $1,000.00 | $1,022.80 | $2.76 |
Class Y | Hypothetical | 0.55% | $1,000.00 | $1,022.07 | $2.76 |
Institutional Class | Actual | 0.48% | $1,000.00 | $1,024.10 | $2.41 |
Institutional Class | Hypothetical | 0.48% | $1,000.00 | $1,022.41 | $2.41 |
International Equity Fund | |||||
Class A | Actual | 1.36% | $1,000.00 | $1,127.30 | $7.17 |
Class A | Hypothetical | 1.36% | $1,000.00 | $1,018.05 | $6.81 |
Class C | Actual | 1.99% | $1,000.00 | $1,123.90 | $10.48 |
Class C | Hypothetical | 1.99% | $1,000.00 | $1,014.93 | $9.94 |
Class Y | Actual | 0.99% | $1,000.00 | $1,129.10 | $5.23 |
Net Expense Ratio Annualized June 30, 2023 | Beginning Account Value January 1, 2023 | Ending Account Value June 30, 2023 | Expenses Paid During the Six Months Ended June 30, 2023* | ||
Class Y | Hypothetical | 0.99% | $1,000.00 | $1,019.89 | $4.96 |
Institutional Class | Actual | 0.89% | $1,000.00 | $1,130.10 | $4.70 |
Institutional Class | Hypothetical | 0.89% | $1,000.00 | $1,020.38 | $4.46 |
International Growth Fund | |||||
Class A | Actual | 1.24% | $1,000.00 | $1,102.50 | $6.46 |
Class A | Hypothetical | 1.24% | $1,000.00 | $1,018.65 | $6.21 |
Class C | Actual | 1.99% | $1,000.00 | $1,099.20 | $10.36 |
Class C | Hypothetical | 1.99% | $1,000.00 | $1,014.93 | $9.94 |
Class Y | Actual | 0.99% | $1,000.00 | $1,104.20 | $5.17 |
Class Y | Hypothetical | 0.99% | $1,000.00 | $1,019.89 | $4.96 |
Institutional Class | Actual | 0.89% | $1,000.00 | $1,105.20 | $4.65 |
Institutional Class | Hypothetical | 0.89% | $1,000.00 | $1,020.38 | $4.46 |
Large Cap Focused Fund | |||||
Class A | Actual | 1.01% | $1,000.00 | $1,181.70 | $5.46*** |
Class A | Hypothetical | 1.01% | $1,000.00 | $1,019.79 | $5.06*** |
Class C | Actual | 1.80% | $1,000.00 | $1,177.10 | $9.72*** |
Class C | Hypothetical | 1.80% | $1,000.00 | $1,015.87 | $9.00*** |
Class Y | Actual | 0.73% | $1,000.00 | $1,183.50 | $3.95*** |
Class Y | Hypothetical | 0.73% | $1,000.00 | $1,021.17 | $3.66*** |
Institutional Class | Actual | 0.70% | $1,000.00 | $1,183.60 | $3.79*** |
Institutional Class | Hypothetical | 0.70% | $1,000.00 | $1,021.32 | $3.51*** |
Class R6 | Actual | 0.66% | $1,000.00 | $1,184.10 | $3.57*** |
Class R6 | Hypothetical | 0.66% | $1,000.00 | $1,021.52 | $3.31*** |
Large Cap Fund | |||||
Class A | Actual | 1.06% | $1,000.00 | $1,104.70 | $5.53**** |
Class A | Hypothetical | 1.06% | $1,000.00 | $1,019.54 | $5.31**** |
Class C | Actual | 1.81% | $1,000.00 | $1,099.90 | $9.42**** |
Class C | Hypothetical | 1.81% | $1,000.00 | $1,015.82 | $9.05**** |
Class Y | Actual | 0.81% | $1,000.00 | $1,106.00 | $4.23**** |
Class Y | Hypothetical | 0.81% | $1,000.00 | $1,020.78 | $4.06**** |
Institutional Class | Actual | 0.71% | $1,000.00 | $1,105.90 | $3.71**** |
Institutional Class | Hypothetical | 0.71% | $1,000.00 | $1,021.27 | $3.56**** |
Large Company Growth Fund | |||||
Class A | Actual | 1.08% | $1,000.00 | $1,173.80 | $5.82***** |
Class A | Hypothetical | 1.08% | $1,000.00 | $1,019.44 | $5.41***** |
Class C | Actual | 1.83% | $1,000.00 | $1,169.50 | $9.84***** |
Class C | Hypothetical | 1.83% | $1,000.00 | $1,015.72 | $9.15***** |
Class Y | Actual | 0.84% | $1,000.00 | $1,175.30 | $4.53***** |
Class Y | Hypothetical | 0.84% | $1,000.00 | $1,020.63 | $4.21***** |
Institutional Class | Actual | 0.73% | $1,000.00 | $1,175.90 | $3.94***** |
Institutional Class | Hypothetical | 0.73% | $1,000.00 | $1,021.17 | $3.66***** |
Small Company Fund | |||||
Class A | Actual | 1.18% | $1,000.00 | $1,066.30 | $6.05****** |
Class A | Hypothetical | 1.18% | $1,000.00 | $1,018.94 | $5.91****** |
Class C | Actual | 1.96% | $1,000.00 | $1,062.50 | $10.02****** |
Class C | Hypothetical | 1.96% | $1,000.00 | $1,015.08 | $9.79****** |
Class Y | Actual | 0.90% | $1,000.00 | $1,068.50 | $4.62****** |
Class Y | Hypothetical | 0.90% | $1,000.00 | $1,020.33 | $4.51****** |
Institutional Class | Actual | 0.80% | $1,000.00 | $1,068.30 | $4.10****** |
Institutional Class | Hypothetical | 0.80% | $1,000.00 | $1,020.83 | $4.01****** |
Class R6 | Actual | 0.80% | $1,000.00 | $1,069.00 | $4.10****** |
Class R6 | Hypothetical | 0.80% | $1,000.00 | $1,020.83 | $4.01****** |
Value Fund | |||||
Class A | Actual | 1.08% | $1,000.00 | $1,027.20 | $5.43 |
Class A | Hypothetical | 1.08% | $1,000.00 | $1,019.44 | $5.41 |
Class C | Actual | 1.83% | $1,000.00 | $1,024.00 | $9.18 |
Class C | Hypothetical | 1.83% | $1,000.00 | $1,015.72 | $9.15 |
Class Y | Actual | 0.83% | $1,000.00 | $1,028.30 | $4.17 |
Class Y | Hypothetical | 0.83% | $1,000.00 | $1,020.68 | $4.16 |
Net Expense Ratio Annualized June 30, 2023 | Beginning Account Value January 1, 2023 | Ending Account Value June 30, 2023 | Expenses Paid During the Six Months Ended June 30, 2023* | ||
Institutional Class | Actual | 0.68% | $1,000.00 | $1,029.30 | $3.42 |
Institutional Class | Hypothetical | 0.68% | $1,000.00 | $1,021.42 | $3.41 |
Class R6 | Actual | 0.63% | $1,000.00 | $1,029.50 | $3.17 |
Class R6 | Hypothetical | 0.63% | $1,000.00 | $1,021.67 | $3.16 |
* | Expenses are equal to the Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect one-half year period). |
** | Excluding liquidity provider expenses, your actual cost of investment in Class A, Class C, Class Y and Class R6 would be $5.27, $9.26, $4.06 and $3.33, respectively, and your hypothetical cost of investment in Class A, Class C, Class Y and Class R6 would be $5.01, $8.80, $3.86 and $3.16, respectively. |
*** | Excluding liquidity provider expenses, your actual cost of investment in Class A, Class C, Class Y, Institutional Class and Class R6 would be $5.41, $9.66, $3.90, $3.74 and $3.52, respectively, and your hypothetical cost of investment in Class A, Class C, Class Y, Institutional Class and Class R6 would be $5.01, $8.95, $3.61, $3.46 and $3.26, respectively. |
**** | Excluding liquidity provider expenses, your actual cost of investment in Class A, Class C, Class Y and Institutional Class would be $5.38, $9.27, $4.07 and $3.55, respectively, and your hypothetical cost of investment in Class A, Class C, Class Y and Institutional Class would be $5.16, $8.90, $3.91 and $3.41, respectively. |
***** | Excluding liquidity provider expenses, your actual cost of investment in Class A, Class C, Class Y and Institutional Class would be $5.61, $9.63, $4.31 and $3.72, respectively, and your hypothetical cost of investment in Class A, Class C, Class Y and Institutional Class would be $5.21, $8.95, $4.01 and $3.46, respectively. |
****** | Excluding liquidity provider expenses, your actual cost of investment in Class A, Class C, Class Y, Institutional Class and Class R6 would be $5.99, $9.97, $4.56, $4.05 and $4.05, respectively, and your hypothetical cost of investment in Class A, Class C, Class Y, Institutional Class and Class R6 would be $5.86, $9.74, $4.46, $3.96 and $3.96, respectively. |
Interested Trustees1: | |||||
Name Address Year of Birth | Position Held with Trust | Term of Office And Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of Funds Overseen in the Touchstone Fund Complex2 | Other Directorships Held During Past 5 Years3 |
Jill T. McGruder Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1955 | Trustee | Until retirement at age 75 or until she resigns or is removed Trustee since 1999 | President of Touchstone Funds from 1999 to 2020; Director and CEO of IFS Financial Services, Inc. (a holding company) since 1999; and Senior Vice President and Chief Marketing Officer of Western & Southern Financial Group, Inc. (a financial services company) since 2016. | 40 | Director, Integrity Life Insurance Co. and National Integrity Life Insurance Co. since 2005; Director, Touchstone Securities (the Distributor) since 1999; Director, Touchstone Advisors (the Adviser) since 1999; Director, W&S Brokerage Services, Inc. since 1999; Director, W&S Financial Group Distributors, Inc. since 1999; Director, Insurance Profillment Solutions LLC since 2014; Director, Columbus Life Insurance Co. since 2016; Director, The Lafayette Life Insurance Co. since 2016; Director, Gerber Life Insurance Company since 2019; Director, Western & Southern Agency, Inc. since 2018; and Director, LL Global, Inc. (not-for-profit trade organization with operating divisions LIMRA and LOMA) since 2016. |
E. Blake Moore, Jr. Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1958 | President and Trustee | Until retirement at age 75 or until he resigns or is removed Trustee since 2021 | President, Touchstone Funds since 2021; Chief Executive Officer of Touchstone Advisors, Inc. and Touchstone Securities, Inc. since 2020; President, Foresters Investment Management Company, Inc. from 2018 to 2020; President, North American Asset Management at Foresters Financial from 2018 to 2020; Managing Director, Head of Americas at UBS Asset Management from 2015 to 2017; and Executive Vice President, Head of Distribution at Mackenzie Investments from 2011 to 2014. | 40 | Trustee, College of Wooster since 2008; and Director, UBS Funds from 2015 to 2017. |
Independent Trustees: | |||||
Karen Carnahan c/o Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1954 | Trustee | Until retirement at age 75 or until she resigns or is removed Trustee since 2019 | Retired; formerly Chief Operating Officer of Shred-it (a business services company) from 2014 to 2015; formerly President & Chief Operating Officer of the document management division of Cintas Corporation (a business services company) from 2008 to 2014. | 40 | Director, Cintas Corporation since 2019; Director, Boys & Girls Club of West Chester/Liberty from 2016 to 2022; and Board of Advisors, Best Upon Request from 2020 to 2021. |
William C. Gale c/o Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1952 | Trustee | Until retirement at age 75 or until he resigns or is removed Trustee since 2013 | Retired; formerly Senior Vice President and Chief Financial Officer of Cintas Corporation (a business services company) from 1995 to 2015. | 40 | None. |
Independent Trustees (Continued): | |||||
Name Address Year of Birth | Position Held with Trust | Term of Office And Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of Funds Overseen in the Touchstone Fund Complex2 | Other Directorships Held During Past 5 Years3 |
Susan M. King c/o Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1963 | Trustee | Until retirement at age 75 or until she resigns or is removed Trustee since 2021 | Formerly, Partner of ID Fund LLC (2020 to 2021); formerly, Senior Vice President, Head of Product and Marketing Strategy of Foresters Financial (2018 to 2020); formerly, Managing Director, Head of Sales Strategy and Marketing, Americas of UBS Asset Management (2015 to 2017); formerly, Director, Allianz Funds, Allianz Funds Multi-Strategy Trust and AllianzGI Institutional Multi-Series Trust (2014 to 2015); and formerly, Director, Alliance Capital Cash Management Offshore Funds (2003 to 2005). | 40 | Trustee, Claremont McKenna College since 2017; Trustee, Israel Cancer Research Fund since 2019; and Board Member of WHAM! (Women's Health Access Matters) since 2021. |
Kevin A. Robie c/o Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1956 | Trustee | Until retirement at age 75 or until he resigns or is removed Trustee since 2013 | Retired; formerly Vice President of Portfolio Management at Soin LLC (private multinational holding company and family office) from 2004 to 2020. | 40 | Director, SaverSystems, Inc. since 2015; Director, Buckeye EcoCare, Inc. from 2013 to 2018; Director, Turner Property Services Group, Inc. since 2017; Trustee, Dayton Region New Market Fund, LLC (private fund) since 2010; and Trustee, Entrepreneurs Center, Inc. (business incubator) since 2006. |
Sally J. Staley4 c/o Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1956 | Trustee | Until retirement at age 75 or until she resigns or is removed Trustee since 2023 | Independent Consultant to Institutional Asset Owners since 2017; formerly Chief Investment Officer and Corporate Officer for Case Western Reserve University from 2006 to 2017; formerly Adviser to Fairport Asset Management LLC/Luma Wealth Advisors from 2011 to 2019. | 40 | Trustee, College of Wooster since 2006 (Chair since 2021); Trustee, Great Lakes Theater Festival since 2005; and Member of Advisory Committee, Certified Investment Fund Director Institute from 2015 to 2020. |
William H. Zimmer III c/o Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1953 | Trustee | Until retirement at age 75 or until he resigns or is removed Trustee since 2019 | Independent Treasury Consultant since 2014. | 40 | Director, Deaconess Associations, Inc. (healthcare) since 2001; Trustee, Huntington Funds (mutual funds) from 2006 to 2015; and Director, National Association of Corporate Treasurers from 2011 to 2015. |
Principal Officers: | |||
Name Address Year of Birth | Position(s) Held with Trust1 | Term of Office And Length of Time Served | Principal Occupation(s) During Past 5 Years |
E. Blake Moore, Jr. Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1958 | President and Trustee | Until resignation, removal or disqualification President since January 2021 | See biography above. |
Timothy D. Paulin Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1963 | Vice President | Until resignation, removal or disqualification Vice President since 2010 | Senior Vice President of Investment Research and Product Management of Touchstone Advisors, Inc. |
Timothy S. Stearns Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1963 | Chief Compliance Officer | Until resignation, removal or disqualification Chief Compliance Officer since 2013 | Chief Compliance Officer of Touchstone Advisors, Inc. and Touchstone Securities, Inc. |
Terrie A. Wiedenheft Touchstone Advisors, Inc. 303 Broadway Suite 1100 Cincinnati, Ohio 45202 Year of Birth: 1962 | Controller and Treasurer | Until resignation, removal or disqualification Controller and Treasurer since 2006 | Senior Vice President and Chief Administration Officer within the Office of the Chief Marketing Officer of Western & Southern Financial Group (since 2021); and Senior Vice President, Chief Financial Officer, and Chief Operations Officer of IFS Financial Services, Inc. (a holding company). |
Meredyth A. Whitford-Schultz Western & Southern Financial Group 400 Broadway Cincinnati, Ohio 45202 Year of Birth: 1981 | Secretary | Until resignation, removal or disqualification Secretary since 2018 | Senior Counsel - Securities/Registered Funds of Western & Southern Financial Group (2015 to present); Associate at Morgan Lewis & Bockius LLP (law firm) (2014 to 2015); Associate at Bingham McCutchen LLP (law firm) (2008 to 2014). |
303 Broadway
Cincinnati, Ohio 45202-4203
800.638.8194
www.touchstoneinvestments.com
303 Broadway
Cincinnati, Ohio 45202-4203
P.O. Box 534467
Pittsburgh, PA 15253-4467
(b) | Not applicable. |
Item 2. Code of Ethics.
(a) | The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. |
(c) | There have been no amendments, during the period covered by this report, to a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics description. |
(d) | The registrant has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions. |
(e) | Not applicable. |
(f) | A copy of the code of ethics is attached hereto as Exhibit 13(a)(1). |
Item 3. Audit Committee Financial Expert.
The registrant’s Board of Trustees has determined that the registrant has at least one audit committee financial expert serving on its audit committee. Ms. Karen Carnahan is the registrant’s audit committee financial expert and is an independent trustee within the meaning of the Investment Company Act of 1940, as amended (the “1940 Act”).
Item 4. Principal Accountant Fees and Services.
Audit Fees
(a) | Audit fees for Touchstone Strategic Trust (June Funds) totaled $171,300 and $171,300 for the fiscal years ended June 30, 2023 and June 30, 2022, respectively, including fees associated with the annual audits and filings of Form N-1A and Form N-CEN. |
Audit-Related Fees
(b) | The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported under paragraph (a) of this Item are $21,100 and $17,200 for the fiscal years ended June 30, 2023 and June 30, 2022, respectively. The fees for 2023 relate to additional fees for an N-CSR/A filing, merger related audit procedures and valuation procedures and the fees for 2022 relate to the review of Form N-14 and N-1A filings. |
Tax Fees
(c) | The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning were $73,144 and $69,430 for the fiscal years ended June 30, 2023 and June 30, 2022, respectively. The fees relate to the preparation of federal income and excise tax returns, review of capital gains distribution calculations and tax agent services. |
All Other Fees
(d) | The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item are $16,720 and $18,512 for the fiscal years ended June 30, 2023 and June 30, 2022, respectively. The fees relate to the PFIC analyzer and Global Withholding Tax Reporter subscriptions. |
(e)(1) | Disclose the audit committee's pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X. |
The Audit Committee’s pre-approval policies describe the types of audit, audit-related, tax and other services that have the general pre-approval of the Audit Committee. The pre-approval policies provide that annual audit service fees, tax services not specifically granted pre-approval, services exceeding pre-approved cost levels and other services that have not received general pre-approval will be subject to specific pre-approval by the Audit Committee. The pre-approval policies further provide that the Committee may grant general pre-approval to other audit services (statutory audits and services associated with SEC registration statements, periodic reports and other documents filed with the SEC or other documents issued in connection with securities offerings), audit-related services (accounting consultations related to accounting, financial reporting or disclosure matters not classified as “audit services,” assistance with understanding and implementing new accounting and financial reporting guidance from rulemaking authorities, agreed-upon or expanded audit procedures related to accounting and/or billing records required to respond to or comply with financial, accounting or regulatory reporting matters and assistance with internal control reporting requirements under Form N-CSR), tax services that have historically been provided by the auditor that the Committee believes would not impair the independence of the auditor and are consistent with the SEC’s rules on auditor independence and permissible non-audit services classified as “all other services” that are routine and recurring services.
(e)(2) | All of the services described in paragraphs (b) through (d) of Item 4 were approved by the Audit Committee. |
(f) | The percentage of hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant's full-time, permanent employees was less than fifty percent. |
(g) | The aggregate non-audit fees for Touchstone Strategic Trust (June Funds) and certain entities*, totaled approximately $1,177,706 and $551,319 for the fiscal years ended June 30, 2023 and June 30, 2022, respectively. |
* These include the advisors (excluding non-affiliated sub-advisors) and any entity controlling, controlled by or under common control with the advisors that provides ongoing services to the registrant (Funds).
(h) | The registrant's audit committee of the Board of Trustees has considered whether the provision of non-audit services that were rendered to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant's independence. |
(i) | Not applicable. |
(j) | Not applicable. |
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments.
(a) | Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1(a) of this form. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of trustees, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the 1940 Act (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d))) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
(a)(1) | Code of ethics, and any amendment thereto, that is the subject of disclosure required by Item 2 is attached hereto. |
(a)(2) | Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
(a)(2)(1) | Not applicable. |
(a)(2)(2) | Not applicable. |
(b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) | Touchstone Strategic Trust | |||
By (Signature and Title)* | /s/ E. Blake Moore, Jr. | |||
E. Blake Moore, Jr., President | ||||
(principal executive officer) | ||||
Date: | 08/30/2023 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ E. Blake Moore, Jr. | |||
E. Blake Moore, Jr., President | ||||
(principal executive officer) | ||||
Date: | 08/30/2023 | |||
By (Signature and Title)* | /s/ Terrie A. Wiedenheft | |||
Terrie A. Wiedenheft, Controller and Treasurer | ||||
(principal financial officer) | ||||
Date: | 08/30/2023 |
* Print the name and title of each signing officer under his or her signature.