Cincinnati, Ohio 45202-4203
Item 1. Reports to Stockholders.
(a) The Report to Shareholders is attached herewith.
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class A | $107 | 1.01% |
Factor | Performance Impact | Observations |
Equity Security Selection | Negative | Selections within the Technology and Health Care sectors were the primary drivers of underperformance within equities. |
Interest Rate Management | Negative | Interest rates have been extremely volatile as investors have endeavored to forecast rate cuts following the Fed’s last rate hike in July 2023. The Fund’s fixed income allocation’s duration position short of the benchmark’s represented a modest relative performance headwind. |
Asset Allocation | Positive | The Fund maintained an overweight allocation to equities which outperformed fixed income over the past 12 months. |
Fixed Income Security Selection | Positive | Security selection within Investment Grade Corporates and Securitized contributed to relative outperformance. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class A | 6.61% | 8.00% | 7.58% |
Class A - excluding sales load | 12.22% | 9.11% | 8.13% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Bloomberg U.S. Aggregate Bond Index | 2.63% | -0.23% | 1.35% |
60% Russell 1000® Index and 40% Bloomberg U.S. Aggregate Bond Index | 15.06% | 9.06% | 8.36% |
60% S&P 500® Index and 40% Bloomberg U.S. Aggregate Bond Index | 15.42% | 9.01% | 8.38% |
Fund net assets | $916,751,321% |
Total number of portfolio holdings | $299% |
Total advisory fees paid | $4,164,476% |
Portfolio turnover rate | $70% |
Common Stocks | 63.9% |
Corporate Bonds | 12.5% |
U.S. Treasury Obligations | 11.7% |
U.S. Government Mortgage-Backed Obligations | 3.5% |
Commercial Mortgage-Backed Securities | 2.0% |
Asset-Backed Securities | 1.8% |
Non-Agency Collateralized Mortgage Obligations | 1.7% |
Agency Collateralized Mortgage Obligations | 0.6% |
Sovereign Government Obligations | 0.3% |
Short-Term Investment Fund | 1.6% |
Other Assets/Liabilities (Net) | 0.4% |
Total | 100.0% |
AAA/Aaa | 55.6% |
AA/Aa | 7.7% |
A/A | 12.8% |
BBB/Baa | 21.7% |
BB/Ba | 0.3% |
B/B | 0.2% |
Not Rated | 1.7% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class C | $187 | 1.77% |
Factor | Performance Impact | Observations |
Equity Security Selection | Negative | Selections within the Technology and Health Care sectors were the primary drivers of underperformance within equities. |
Interest Rate Management | Negative | Interest rates have been extremely volatile as investors have endeavored to forecast rate cuts following the Fed’s last rate hike in July 2023. The Fund’s fixed income allocation’s duration position short of the benchmark’s represented a modest relative performance headwind. |
Asset Allocation | Positive | The Fund maintained an overweight allocation to equities which outperformed fixed income over the past 12 months. |
Fixed Income Security Selection | Positive | Security selection within Investment Grade Corporates and Securitized contributed to relative outperformance. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class C | 10.38% | 8.29% | 7.47% |
Class C - excluding sales load | 11.38% | 8.29% | 7.47% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Bloomberg U.S. Aggregate Bond Index | 2.63% | -0.23% | 1.35% |
60% Russell 1000® Index and 40% Bloomberg U.S. Aggregate Bond Index | 15.06% | 9.06% | 8.36% |
60% S&P 500® Index and 40% Bloomberg U.S. Aggregate Bond Index | 15.42% | 9.01% | 8.38% |
Fund net assets | $916,751,321% |
Total number of portfolio holdings | $299% |
Total advisory fees paid | $4,164,476% |
Portfolio turnover rate | $70% |
Common Stocks | 63.9% |
Corporate Bonds | 12.5% |
U.S. Treasury Obligations | 11.7% |
U.S. Government Mortgage-Backed Obligations | 3.5% |
Commercial Mortgage-Backed Securities | 2.0% |
Asset-Backed Securities | 1.8% |
Non-Agency Collateralized Mortgage Obligations | 1.7% |
Agency Collateralized Mortgage Obligations | 0.6% |
Sovereign Government Obligations | 0.3% |
Short-Term Investment Fund | 1.6% |
Other Assets/Liabilities (Net) | 0.4% |
Total | 100.0% |
AAA/Aaa | 55.6% |
AA/Aa | 7.7% |
A/A | 12.8% |
BBB/Baa | 21.7% |
BB/Ba | 0.3% |
B/B | 0.2% |
Not Rated | 1.7% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class Y | $83 | 0.78% |
Factor | Performance Impact | Observations |
Equity Security Selection | Negative | Selections within the Technology and Health Care sectors were the primary drivers of underperformance within equities. |
Interest Rate Management | Negative | Interest rates have been extremely volatile as investors have endeavored to forecast rate cuts following the Fed’s last rate hike in July 2023. The Fund’s fixed income allocation’s duration position short of the benchmark’s represented a modest relative performance headwind. |
Asset Allocation | Positive | The Fund maintained an overweight allocation to equities which outperformed fixed income over the past 12 months. |
Fixed Income Security Selection | Positive | Security selection within Investment Grade Corporates and Securitized contributed to relative outperformance. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class Y | 12.51% | 9.36% | 8.36% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Bloomberg U.S. Aggregate Bond Index | 2.63% | -0.23% | 1.35% |
60% Russell 1000® Index and 40% Bloomberg U.S. Aggregate Bond Index | 15.06% | 9.06% | 8.36% |
60% S&P 500® Index and 40% Bloomberg U.S. Aggregate Bond Index | 15.42% | 9.01% | 8.38% |
Fund net assets | $916,751,321% |
Total number of portfolio holdings | $299% |
Total advisory fees paid | $4,164,476% |
Portfolio turnover rate | $70% |
Common Stocks | 63.9% |
Corporate Bonds | 12.5% |
U.S. Treasury Obligations | 11.7% |
U.S. Government Mortgage-Backed Obligations | 3.5% |
Commercial Mortgage-Backed Securities | 2.0% |
Asset-Backed Securities | 1.8% |
Non-Agency Collateralized Mortgage Obligations | 1.7% |
Agency Collateralized Mortgage Obligations | 0.6% |
Sovereign Government Obligations | 0.3% |
Short-Term Investment Fund | 1.6% |
Other Assets/Liabilities (Net) | 0.4% |
Total | 100.0% |
AAA/Aaa | 55.6% |
AA/Aa | 7.7% |
A/A | 12.8% |
BBB/Baa | 21.7% |
BB/Ba | 0.3% |
B/B | 0.2% |
Not Rated | 1.7% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class R6 | $68 | 0.64% |
Factor | Performance Impact | Observations |
Equity Security Selection | Negative | Selections within the Technology and Health Care sectors were the primary drivers of underperformance within equities. |
Interest Rate Management | Negative | Interest rates have been extremely volatile as investors have endeavored to forecast rate cuts following the Fed’s last rate hike in July 2023. The Fund’s fixed income allocation’s duration position short of the benchmark’s represented a modest relative performance headwind. |
Asset Allocation | Positive | The Fund maintained an overweight allocation to equities which outperformed fixed income over the past 12 months. |
Fixed Income Security Selection | Positive | Security selection within Investment Grade Corporates and Securitized contributed to relative outperformance. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class R61 | 12.63% | 9.33% | 8.24% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Bloomberg U.S. Aggregate Bond Index | 2.63% | -0.23% | 1.35% |
60% Russell 1000® Index and 40% Bloomberg U.S. Aggregate Bond Index | 15.06% | 9.06% | 8.36% |
60% S&P 500® Index and 40% Bloomberg U.S. Aggregate Bond Index | 15.42% | 9.01% | 8.38% |
1 | The inception date was October 28, 2021. Performance information was calculated using the historical performance of Class A shares for the period prior to October 28, 2021. |
Fund net assets | $916,751,321% |
Total number of portfolio holdings | $299% |
Total advisory fees paid | $4,164,476% |
Portfolio turnover rate | $70% |
Common Stocks | 63.9% |
Corporate Bonds | 12.5% |
U.S. Treasury Obligations | 11.7% |
U.S. Government Mortgage-Backed Obligations | 3.5% |
Commercial Mortgage-Backed Securities | 2.0% |
Asset-Backed Securities | 1.8% |
Non-Agency Collateralized Mortgage Obligations | 1.7% |
Agency Collateralized Mortgage Obligations | 0.6% |
Sovereign Government Obligations | 0.3% |
Short-Term Investment Fund | 1.6% |
Other Assets/Liabilities (Net) | 0.4% |
Total | 100.0% |
AAA/Aaa | 55.6% |
AA/Aa | 7.7% |
A/A | 12.8% |
BBB/Baa | 21.7% |
BB/Ba | 0.3% |
B/B | 0.2% |
Not Rated | 1.7% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class A | $81 | 0.80% |
Factor | Performance Impact | Observations |
Sector | Positive | Overweight to A, BBB credits benefitted from spread tightening, added yield carry and higher sector volatility. |
Active Trading | Positive | Benefitted from attractive new issue pricing and selling overvalued bonds. |
Security Selection | Positive | Slight benefit from individual securities with advantageous risk/reward characteristics such as below investment grade. |
Duration/Curve Tilts | Negative | Long duration profile was the primary driver of negative excess return but was slightly offset by the modest barbell curve allocation. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class A | -0.08% | 0.36% | 1.32% |
Class A - excluding sales load | 3.27% | 0.77% | 1.82% |
Bloomberg Municipal Bond Index | 3.21% | 1.16% | 2.39% |
Fund net assets | $49,318,943% |
Total number of portfolio holdings | $92% |
Total advisory fees paid | $203,835% |
Portfolio turnover rate | $27% |
Fixed Rate Revenue Bonds | 75.9% |
General Obligation Bonds | 21.1% |
Short-Term Investment Fund | 1.9% |
Other Assets/Liabilities (Net) | 1.1% |
Total | 100.0% |
AAA/Aaa | 1.4% |
AA/Aa | 47.6% |
A/A | 37.1% |
BBB/Baa | 11.7% |
BB/Ba | 0.9% |
Not Rated | 1.3% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class C | $157 | 1.55% |
Factor | Performance Impact | Observations |
Sector | Positive | Overweight to A, BBB credits benefitted from spread tightening, added yield carry and higher sector volatility. |
Active Trading | Positive | Benefitted from attractive new issue pricing and selling overvalued bonds. |
Security Selection | Positive | Slight benefit from individual securities with advantageous risk/reward characteristics such as below investment grade. |
Duration/Curve Tilts | Negative | Long duration profile was the primary driver of negative excess return but was slightly offset by the modest barbell curve allocation. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class C | 1.41% | -0.03% | 1.19% |
Class C - excluding sales load | 2.41% | -0.03% | 1.19% |
Bloomberg Municipal Bond Index | 3.21% | 1.16% | 2.39% |
Fund net assets | $49,318,943% |
Total number of portfolio holdings | $92% |
Total advisory fees paid | $203,835% |
Portfolio turnover rate | $27% |
Fixed Rate Revenue Bonds | 75.9% |
General Obligation Bonds | 21.1% |
Short-Term Investment Fund | 1.9% |
Other Assets/Liabilities (Net) | 1.1% |
Total | 100.0% |
AAA/Aaa | 1.4% |
AA/Aa | 47.6% |
A/A | 37.1% |
BBB/Baa | 11.7% |
BB/Ba | 0.9% |
Not Rated | 1.3% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class Y | $56 | 0.55% |
Factor | Performance Impact | Observations |
Sector | Positive | Overweight to A, BBB credits benefitted from spread tightening, added yield carry and higher sector volatility. |
Active Trading | Positive | Benefitted from attractive new issue pricing and selling overvalued bonds. |
Security Selection | Positive | Slight benefit from individual securities with advantageous risk/reward characteristics such as below investment grade. |
Duration/Curve Tilts | Negative | Long duration profile was the primary driver of negative excess return but was slightly offset by the modest barbell curve allocation. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class Y1 | 3.72% | 1.08% | 2.05% |
Bloomberg Municipal Bond Index | 3.21% | 1.16% | 2.39% |
1 | The inception date was August 30, 2016. Performance information was calculated using the historical performance of Class A shares for the periods prior to August 30, 2016. |
Fund net assets | $49,318,943% |
Total number of portfolio holdings | $92% |
Total advisory fees paid | $203,835% |
Portfolio turnover rate | $27% |
Fixed Rate Revenue Bonds | 75.9% |
General Obligation Bonds | 21.1% |
Short-Term Investment Fund | 1.9% |
Other Assets/Liabilities (Net) | 1.1% |
Total | 100.0% |
AAA/Aaa | 1.4% |
AA/Aa | 47.6% |
A/A | 37.1% |
BBB/Baa | 11.7% |
BB/Ba | 0.9% |
Not Rated | 1.3% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Class | $49 | 0.48% |
Factor | Performance Impact | Observations |
Sector | Positive | Overweight to A, BBB credits benefitted from spread tightening, added yield carry and higher sector volatility. |
Active Trading | Positive | Benefitted from attractive new issue pricing and selling overvalued bonds. |
Security Selection | Positive | Slight benefit from individual securities with advantageous risk/reward characteristics such as below investment grade. |
Duration/Curve Tilts | Negative | Long duration profile was the primary driver of negative excess return but was slightly offset by the modest barbell curve allocation. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Institutional Class1 | 3.60% | 1.10% | 2.07% |
Bloomberg Municipal Bond Index | 3.21% | 1.16% | 2.39% |
1 | The inception date was August 30, 2016. Performance information was calculated using the historical performance of Class A shares for the periods prior to August 30, 2016. |
Fund net assets | $49,318,943% |
Total number of portfolio holdings | $92% |
Total advisory fees paid | $203,835% |
Portfolio turnover rate | $27% |
Fixed Rate Revenue Bonds | 75.9% |
General Obligation Bonds | 21.1% |
Short-Term Investment Fund | 1.9% |
Other Assets/Liabilities (Net) | 1.1% |
Total | 100.0% |
AAA/Aaa | 1.4% |
AA/Aa | 47.6% |
A/A | 37.1% |
BBB/Baa | 11.7% |
BB/Ba | 0.9% |
Not Rated | 1.3% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class A | $136 | 1.34% |
Factor | Performance Impact | Observations |
Deep Value bias | Negative | Value was generally out of favor during the 6-month period ending June 2024, representing a relative performance headwind. But over the full 12-month period, Value outperformed Growth. |
Overweight Smaller Capitalization Stocks relative to the benchmark | Negative | The Fund’s smaller capitalization bias detracted given the continued dominance of mega-cap stocks over the period. |
Sector Allocation | Negative | Sector allocation relative detraction was due to a large underweight to the Financials sector by the previous sub-adviser. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class A | -1.79% | 3.54% | 3.07% |
Class A - excluding sales load | 3.41% | 4.60% | 3.60% |
MSCI All Country World Ex USA Index | 11.62% | 5.55% | 3.84% |
MSCI EAFE Index | 11.54% | 6.46% | 4.33% |
Fund net assets | $105,422,346% |
Total number of portfolio holdings | $81% |
Total advisory fees paid | $780,451% |
Portfolio turnover rate | $112% |
Financials | 24.2% |
Information Technology | 12.6% |
Consumer Discretionary | 12.1% |
Industrials | 10.6% |
Health Care | 10.1% |
Materials | 8.7% |
Energy | 7.5% |
Consumer Staples | 4.5% |
Communication Services | 3.3% |
Utilities | 2.0% |
Real Estate | 1.3% |
Short-Term Investment Fund | 1.9% |
Other Assets/Liabilities (Net) | 1.2% |
Total | 100.0% |
Common Stocks | |
Japan | 16.1% |
China | 7.5% |
France | 7.2% |
United Kingdom | 6.1% |
Taiwan | 5.6% |
Germany | 5.2% |
India | 5.1% |
South Korea | 4.8% |
Canada | 4.6% |
Switzerland | 4.4% |
Netherlands | 3.9% |
Italy | 3.7% |
Other Countries | 22.7% |
Short-Term Investment Fund | 1.9% |
Other Assets/Liabilities (Net) | 1.2% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class C | $200 | 1.97% |
Factor | Performance Impact | Observations |
Deep Value bias | Negative | Value was generally out of favor during the 6-month period ending June 2024, representing a relative performance headwind. But over the full 12-month period, Value outperformed Growth. |
Overweight Smaller Capitalization Stocks relative to the benchmark | Negative | The Fund’s smaller capitalization bias detracted given the continued dominance of mega-cap stocks over the period. |
Sector Allocation | Negative | Sector allocation relative detraction was due to a large underweight to the Financials sector by the previous sub-adviser. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class C | 1.85% | 3.80% | 2.74% |
Class C - excluding sales load | 2.85% | 3.80% | 2.74% |
MSCI All Country World Ex USA Index | 11.62% | 5.55% | 3.84% |
MSCI EAFE Index | 11.54% | 6.46% | 4.33% |
Fund net assets | $105,422,346% |
Total number of portfolio holdings | $81% |
Total advisory fees paid | $780,451% |
Portfolio turnover rate | $112% |
Financials | 24.2% |
Information Technology | 12.6% |
Consumer Discretionary | 12.1% |
Industrials | 10.6% |
Health Care | 10.1% |
Materials | 8.7% |
Energy | 7.5% |
Consumer Staples | 4.5% |
Communication Services | 3.3% |
Utilities | 2.0% |
Real Estate | 1.3% |
Short-Term Investment Fund | 1.9% |
Other Assets/Liabilities (Net) | 1.2% |
Total | 100.0% |
Common Stocks | |
Japan | 16.1% |
China | 7.5% |
France | 7.2% |
United Kingdom | 6.1% |
Taiwan | 5.6% |
Germany | 5.2% |
India | 5.1% |
South Korea | 4.8% |
Canada | 4.6% |
Switzerland | 4.4% |
Netherlands | 3.9% |
Italy | 3.7% |
Other Countries | 22.7% |
Short-Term Investment Fund | 1.9% |
Other Assets/Liabilities (Net) | 1.2% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class Y | $99 | 0.97% |
Factor | Performance Impact | Observations |
Deep Value bias | Negative | Value was generally out of favor during the 6-month period ending June 2024, representing a relative performance headwind. But over the full 12-month period, Value outperformed Growth. |
Overweight Smaller Capitalization Stocks relative to the benchmark | Negative | The Fund’s smaller capitalization bias detracted given the continued dominance of mega-cap stocks over the period. |
Sector Allocation | Negative | Sector allocation relative detraction was due to a large underweight to the Financials sector by the previous sub-adviser. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class Y | 3.83% | 4.98% | 3.97% |
MSCI All Country World Ex USA Index | 11.62% | 5.55% | 3.84% |
MSCI EAFE Index | 11.54% | 6.46% | 4.33% |
Fund net assets | $105,422,346% |
Total number of portfolio holdings | $81% |
Total advisory fees paid | $780,451% |
Portfolio turnover rate | $112% |
Financials | 24.2% |
Information Technology | 12.6% |
Consumer Discretionary | 12.1% |
Industrials | 10.6% |
Health Care | 10.1% |
Materials | 8.7% |
Energy | 7.5% |
Consumer Staples | 4.5% |
Communication Services | 3.3% |
Utilities | 2.0% |
Real Estate | 1.3% |
Short-Term Investment Fund | 1.9% |
Other Assets/Liabilities (Net) | 1.2% |
Total | 100.0% |
Common Stocks | |
Japan | 16.1% |
China | 7.5% |
France | 7.2% |
United Kingdom | 6.1% |
Taiwan | 5.6% |
Germany | 5.2% |
India | 5.1% |
South Korea | 4.8% |
Canada | 4.6% |
Switzerland | 4.4% |
Netherlands | 3.9% |
Italy | 3.7% |
Other Countries | 22.7% |
Short-Term Investment Fund | 1.9% |
Other Assets/Liabilities (Net) | 1.2% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Class | $90 | 0.88% |
Factor | Performance Impact | Observations |
Deep Value bias | Negative | Value was generally out of favor during the 6-month period ending June 2024, representing a relative performance headwind. But over the full 12-month period, Value outperformed Growth. |
Overweight Smaller Capitalization Stocks relative to the benchmark | Negative | The Fund’s smaller capitalization bias detracted given the continued dominance of mega-cap stocks over the period. |
Sector Allocation | Negative | Sector allocation relative detraction was due to a large underweight to the Financials sector by the previous sub-adviser. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Institutional Class1 | 3.93% | 5.09% | 4.03% |
MSCI All Country World Ex USA Index | 11.62% | 5.55% | 3.84% |
MSCI EAFE Index | 11.54% | 6.46% | 4.33% |
1 | The inception date was October 30, 2017. Performance information was calculated using the historical performance of Class A shares for the periods prior to October 30, 2017. |
Fund net assets | $105,422,346% |
Total number of portfolio holdings | $81% |
Total advisory fees paid | $780,451% |
Portfolio turnover rate | $112% |
Financials | 24.2% |
Information Technology | 12.6% |
Consumer Discretionary | 12.1% |
Industrials | 10.6% |
Health Care | 10.1% |
Materials | 8.7% |
Energy | 7.5% |
Consumer Staples | 4.5% |
Communication Services | 3.3% |
Utilities | 2.0% |
Real Estate | 1.3% |
Short-Term Investment Fund | 1.9% |
Other Assets/Liabilities (Net) | 1.2% |
Total | 100.0% |
Common Stocks | |
Japan | 16.1% |
China | 7.5% |
France | 7.2% |
United Kingdom | 6.1% |
Taiwan | 5.6% |
Germany | 5.2% |
India | 5.1% |
South Korea | 4.8% |
Canada | 4.6% |
Switzerland | 4.4% |
Netherlands | 3.9% |
Italy | 3.7% |
Other Countries | 22.7% |
Short-Term Investment Fund | 1.9% |
Other Assets/Liabilities (Net) | 1.2% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class A | $109 | 1.00% |
Factor | Performance Impact | Observations |
Consumer Discretionary | Contributed | Stock selection within Consumer Discretionary was a high contributor to relative performance. |
Communication Services | Contributed | The largest strategy overweight allocation to the sector was a high contributor. Stock selection within the sector was also a positive contributor to relative performance. |
Information Technology | Detracted | Stock selection within Information Technology was the largest detractor to relative performance. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class A | 11.89% | 13.38% | 11.98% |
Class A - excluding sales load | 17.79% | 14.55% | 12.55% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 1000® Index | 23.88% | 14.61% | 12.51% |
S&P 500® Index | 24.56% | 15.05% | 12.86% |
Fund net assets | $3,359,471,496% |
Total number of portfolio holdings | $47% |
Total advisory fees paid | $16,065,472% |
Portfolio turnover rate | $6% |
Information Technology | 29.8% |
Communication Services | 15.3% |
Financials | 13.3% |
Health Care | 12.5% |
Consumer Discretionary | 7.9% |
Industrials | 7.5% |
Consumer Staples | 3.9% |
Energy | 2.6% |
Materials | 2.5% |
Real Estate | 1.1% |
Short-Term Investment Fund | 3.6% |
Other Assets/Liabilities (Net) | 0.0% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class C | $195 | 1.80% |
Factor | Performance Impact | Observations |
Consumer Discretionary | Contributed | Stock selection within Consumer Discretionary was a high contributor to relative performance. |
Communication Services | Contributed | The largest strategy overweight allocation to the sector was a high contributor. Stock selection within the sector was also a positive contributor to relative performance. |
Information Technology | Detracted | Stock selection within Information Technology was the largest detractor to relative performance. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class C | 15.84% | 13.64% | 11.84% |
Class C - excluding sales load | 16.84% | 13.64% | 11.84% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 1000® Index | 23.88% | 14.61% | 12.51% |
S&P 500® Index | 24.56% | 15.05% | 12.86% |
Fund net assets | $3,359,471,496% |
Total number of portfolio holdings | $47% |
Total advisory fees paid | $16,065,472% |
Portfolio turnover rate | $6% |
Information Technology | 29.8% |
Communication Services | 15.3% |
Financials | 13.3% |
Health Care | 12.5% |
Consumer Discretionary | 7.9% |
Industrials | 7.5% |
Consumer Staples | 3.9% |
Energy | 2.6% |
Materials | 2.5% |
Real Estate | 1.1% |
Short-Term Investment Fund | 3.6% |
Other Assets/Liabilities (Net) | 0.0% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class Y | $80 | 0.73% |
Factor | Performance Impact | Observations |
Consumer Discretionary | Contributed | Stock selection within Consumer Discretionary was a high contributor to relative performance. |
Communication Services | Contributed | The largest strategy overweight allocation to the sector was a high contributor. Stock selection within the sector was also a positive contributor to relative performance. |
Information Technology | Detracted | Stock selection within Information Technology was the largest detractor to relative performance. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class Y | 18.11% | 14.86% | 12.86% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 1000® Index | 23.88% | 14.61% | 12.51% |
S&P 500® Index | 24.56% | 15.05% | 12.86% |
Fund net assets | $3,359,471,496% |
Total number of portfolio holdings | $47% |
Total advisory fees paid | $16,065,472% |
Portfolio turnover rate | $6% |
Information Technology | 29.8% |
Communication Services | 15.3% |
Financials | 13.3% |
Health Care | 12.5% |
Consumer Discretionary | 7.9% |
Industrials | 7.5% |
Consumer Staples | 3.9% |
Energy | 2.6% |
Materials | 2.5% |
Real Estate | 1.1% |
Short-Term Investment Fund | 3.6% |
Other Assets/Liabilities (Net) | 0.0% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Class | $76 | 0.70% |
Factor | Performance Impact | Observations |
Consumer Discretionary | Contributed | Stock selection within Consumer Discretionary was a high contributor to relative performance. |
Communication Services | Contributed | The largest strategy overweight allocation to the sector was a high contributor. Stock selection within the sector was also a positive contributor to relative performance. |
Information Technology | Detracted | Stock selection within Information Technology was the largest detractor to relative performance. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Institutional Class1 | 18.13% | 14.89% | 12.90% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 1000® Index | 23.88% | 14.61% | 12.51% |
S&P 500® Index | 24.56% | 15.05% | 12.86% |
1 | The inception date was December 23, 2014. Performance information was calculated using the historical performance of Class A shares for the periods prior to December 23, 2014. |
Fund net assets | $3,359,471,496% |
Total number of portfolio holdings | $47% |
Total advisory fees paid | $16,065,472% |
Portfolio turnover rate | $6% |
Information Technology | 29.8% |
Communication Services | 15.3% |
Financials | 13.3% |
Health Care | 12.5% |
Consumer Discretionary | 7.9% |
Industrials | 7.5% |
Consumer Staples | 3.9% |
Energy | 2.6% |
Materials | 2.5% |
Real Estate | 1.1% |
Short-Term Investment Fund | 3.6% |
Other Assets/Liabilities (Net) | 0.0% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class R6 | $72 | 0.66% |
Factor | Performance Impact | Observations |
Consumer Discretionary | Contributed | Stock selection within Consumer Discretionary was a high contributor to relative performance. |
Communication Services | Contributed | The largest strategy overweight allocation to the sector was a high contributor. Stock selection within the sector was also a positive contributor to relative performance. |
Information Technology | Detracted | Stock selection within Information Technology was the largest detractor to relative performance. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class R61 | 18.18% | 14.76% | 12.66% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 1000® Index | 23.88% | 14.61% | 12.51% |
S&P 500® Index | 24.56% | 15.05% | 12.86% |
1 | The inception date was October 28, 2021. Performance information was calculated using the historical performance of Class A shares for the periods prior to October 28, 2021. |
Fund net assets | $3,359,471,496% |
Total number of portfolio holdings | $47% |
Total advisory fees paid | $16,065,472% |
Portfolio turnover rate | $6% |
Information Technology | 29.8% |
Communication Services | 15.3% |
Financials | 13.3% |
Health Care | 12.5% |
Consumer Discretionary | 7.9% |
Industrials | 7.5% |
Consumer Staples | 3.9% |
Energy | 2.6% |
Materials | 2.5% |
Real Estate | 1.1% |
Short-Term Investment Fund | 3.6% |
Other Assets/Liabilities (Net) | 0.0% |
Total | 100.0% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class A | $109 | 1.04% |
Factor | Performance Impact | Observations |
Stock Selection | Negative | Not owning most of the AI-related and large cap growth stocks presented a headwind during the period. In addition, certain names held by the Fund underperformed the market for idiosyncratic reasons. |
Sector Allocation | Negative | The best performing sectors within the benchmark were Communication Services and Information Technology; however, the Fund was underweight both sectors thus representing a relative performance headwind. While overall sector allocation detracted from relative performance, underweight positions in Health Care, Real Estate, and Utilities added to relative performance during the period. |
Style Factors | Negative | An overweight to Value, Yield, and Quality factors generally presented headwinds. Less exposure than the benchmark to Growth and Momentum factors, as well as the concentration of the benchmark in a few companies benefitting from excitement around AI spending contributed to the underperformance. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | Since Inception1 |
Class A | 3.58% | 7.74% | 7.62% |
Class A - excluding sales load | 9.06% | 8.85% | 8.26% |
Russell 3000® Index | 23.13% | 14.14% | 12.14% |
Russell 1000® Index | 23.88% | 14.61% | 12.49% |
1 | The inception date of the Fund was July 9, 2014. The returns of the indexes listed above are based on the inception date of the Fund. |
Fund net assets | $279,868,054% |
Total number of portfolio holdings | $30% |
Total advisory fees paid | $1,643,493% |
Portfolio turnover rate | $6% |
Financials | 27.0)% |
Information Technology | 13.6)% |
Industrials | 13.0)% |
Consumer Discretionary | 12.4)% |
Materials | 11.0)% |
Consumer Staples | 8.4)% |
Communication Services | 7.5)% |
Health Care | 3.2)% |
Energy | 2.7)% |
Short-Term Investment Fund | 1.2)% |
Other Assets/Liabilities (Net) | (0.0)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class C | $186 | 1.79% |
Factor | Performance Impact | Observations |
Stock Selection | Negative | Not owning most of the AI-related and large cap growth stocks presented a headwind during the period. In addition, certain names held by the Fund underperformed the market for idiosyncratic reasons. |
Sector Allocation | Negative | The best performing sectors within the benchmark were Communication Services and Information Technology; however, the Fund was underweight both sectors thus representing a relative performance headwind. While overall sector allocation detracted from relative performance, underweight positions in Health Care, Real Estate, and Utilities added to relative performance during the period. |
Style Factors | Negative | An overweight to Value, Yield, and Quality factors generally presented headwinds. Less exposure than the benchmark to Growth and Momentum factors, as well as the concentration of the benchmark in a few companies benefitting from excitement around AI spending contributed to the underperformance. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | Since Inception1 |
Class C | 7.20% | 8.03% | 7.63% |
Class C - excluding sales load | 8.20% | 8.03% | 7.63% |
Russell 3000® Index | 23.13% | 14.14% | 12.14% |
Russell 1000® Index | 23.88% | 14.61% | 12.49% |
1 | The inception date of the Fund was July 9, 2014. The returns of the indexes listed above are based on the inception date of the Fund. |
Fund net assets | $279,868,054% |
Total number of portfolio holdings | $30% |
Total advisory fees paid | $1,643,493% |
Portfolio turnover rate | $6% |
Financials | 27.0)% |
Information Technology | 13.6)% |
Industrials | 13.0)% |
Consumer Discretionary | 12.4)% |
Materials | 11.0)% |
Consumer Staples | 8.4)% |
Communication Services | 7.5)% |
Health Care | 3.2)% |
Energy | 2.7)% |
Short-Term Investment Fund | 1.2)% |
Other Assets/Liabilities (Net) | (0.0)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class Y | $83 | 0.79% |
Factor | Performance Impact | Observations |
Stock Selection | Negative | Not owning most of the AI-related and large cap growth stocks presented a headwind during the period. In addition, certain names held by the Fund underperformed the market for idiosyncratic reasons. |
Sector Allocation | Negative | The best performing sectors within the benchmark were Communication Services and Information Technology; however, the Fund was underweight both sectors thus representing a relative performance headwind. While overall sector allocation detracted from relative performance, underweight positions in Health Care, Real Estate, and Utilities added to relative performance during the period. |
Style Factors | Negative | An overweight to Value, Yield, and Quality factors generally presented headwinds. Less exposure than the benchmark to Growth and Momentum factors, as well as the concentration of the benchmark in a few companies benefitting from excitement around AI spending contributed to the underperformance. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | Since Inception1 |
Class Y | 9.28% | 9.11% | 8.53% |
Russell 3000® Index | 23.13% | 14.14% | 12.14% |
Russell 1000® Index | 23.88% | 14.61% | 12.49% |
1 | The inception date of the Fund was July 9, 2014. The returns of the indexes listed above are based on the inception date of the Fund. |
Fund net assets | $279,868,054% |
Total number of portfolio holdings | $30% |
Total advisory fees paid | $1,643,493% |
Portfolio turnover rate | $6% |
Financials | 27.0)% |
Information Technology | 13.6)% |
Industrials | 13.0)% |
Consumer Discretionary | 12.4)% |
Materials | 11.0)% |
Consumer Staples | 8.4)% |
Communication Services | 7.5)% |
Health Care | 3.2)% |
Energy | 2.7)% |
Short-Term Investment Fund | 1.2)% |
Other Assets/Liabilities (Net) | (0.0)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Class | $72 | 0.69% |
Factor | Performance Impact | Observations |
Stock Selection | Negative | Not owning most of the AI-related and large cap growth stocks presented a headwind during the period. In addition, certain names held by the Fund underperformed the market for idiosyncratic reasons. |
Sector Allocation | Negative | The best performing sectors within the benchmark were Communication Services and Information Technology; however, the Fund was underweight both sectors thus representing a relative performance headwind. While overall sector allocation detracted from relative performance, underweight positions in Health Care, Real Estate, and Utilities added to relative performance during the period. |
Style Factors | Negative | An overweight to Value, Yield, and Quality factors generally presented headwinds. Less exposure than the benchmark to Growth and Momentum factors, as well as the concentration of the benchmark in a few companies benefitting from excitement around AI spending contributed to the underperformance. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | Since Inception1 |
Institutional Class | 9.45% | 9.23% | 8.64% |
Russell 3000® Index | 23.13% | 14.14% | 12.14% |
Russell 1000® Index | 23.88% | 14.61% | 12.49% |
1 | The inception date of the Fund was July 9, 2014. The returns of the indexes listed above are based on the inception date of the Fund. |
Fund net assets | $279,868,054% |
Total number of portfolio holdings | $30% |
Total advisory fees paid | $1,643,493% |
Portfolio turnover rate | $6% |
Financials | 27.0)% |
Information Technology | 13.6)% |
Industrials | 13.0)% |
Consumer Discretionary | 12.4)% |
Materials | 11.0)% |
Consumer Staples | 8.4)% |
Communication Services | 7.5)% |
Health Care | 3.2)% |
Energy | 2.7)% |
Short-Term Investment Fund | 1.2)% |
Other Assets/Liabilities (Net) | (0.0)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class A | $129 | 1.07% |
Factor | Performance Impact | Observations |
Technology | Positive | Technology sector stock selections and overweight versus the benchmark led to relative outperformance in the period. |
Consumer Discretionary | Positive | Consumer Discretionary sector stock selections and underweight versus the benchmark also contributed to relative outperformance in the period. |
Financials | Negative | Financials sector stock selections and overweight versus the benchmark detracted from relative performance in the period. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class A1 | 34.39% | 14.72% | 13.63% |
Class A - excluding sales load | 41.47% | 15.90% | 14.31% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 1000® Growth Index | 33.48% | 19.34% | 16.33% |
S&P 500® Index | 24.56% | 15.05% | 12.86% |
1 | The inception date was August 15, 2016. Performance information was calculated using the historical performance of Institutional Class shares for the periods prior to August 15, 2016. |
Fund net assets | $153,115,776% |
Total number of portfolio holdings | $26% |
Total advisory fees paid | $814,375% |
Portfolio turnover rate | $39% |
Information Technology | 57.8)% |
Communication Services | 13.1)% |
Financials | 8.9)% |
Consumer Discretionary | 8.5)% |
Health Care | 5.5)% |
Industrials | 4.1)% |
Consumer Staples | 1.9)% |
Short-Term Investment Fund | 1.3)% |
Other Assets/Liabilities (Net) | (1.1)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class C | $219 | 1.82% |
Factor | Performance Impact | Observations |
Technology | Positive | Technology sector stock selections and overweight versus the benchmark led to relative outperformance in the period. |
Consumer Discretionary | Positive | Consumer Discretionary sector stock selections and underweight versus the benchmark also contributed to relative outperformance in the period. |
Financials | Negative | Financials sector stock selections and overweight versus the benchmark detracted from relative performance in the period. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class C1 | 39.43% | 15.04% | 13.45% |
Class C - excluding sales load | 40.43% | 15.04% | 13.45% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 1000® Growth Index | 33.48% | 19.34% | 16.33% |
S&P 500® Index | 24.56% | 15.05% | 12.86% |
1 | The inception date was August 15, 2016. Performance information was calculated using the historical performance of Institutional Class shares for the periods prior to August 15, 2016. |
Fund net assets | $153,115,776% |
Total number of portfolio holdings | $26% |
Total advisory fees paid | $814,375% |
Portfolio turnover rate | $39% |
Information Technology | 57.8)% |
Communication Services | 13.1)% |
Financials | 8.9)% |
Consumer Discretionary | 8.5)% |
Health Care | 5.5)% |
Industrials | 4.1)% |
Consumer Staples | 1.9)% |
Short-Term Investment Fund | 1.3)% |
Other Assets/Liabilities (Net) | (1.1)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class Y | $99 | 0.82% |
Factor | Performance Impact | Observations |
Technology | Positive | Technology sector stock selections and overweight versus the benchmark led to relative outperformance in the period. |
Consumer Discretionary | Positive | Consumer Discretionary sector stock selections and underweight versus the benchmark also contributed to relative outperformance in the period. |
Financials | Negative | Financials sector stock selections and overweight versus the benchmark detracted from relative performance in the period. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class Y1 | 41.85% | 16.19% | 14.59% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 1000® Growth Index | 33.48% | 19.34% | 16.33% |
S&P 500® Index | 24.56% | 15.05% | 12.86% |
1 | The inception date was August 15, 2016. Performance information was calculated using the historical performance of Institutional Class shares for the periods prior to August 15, 2016. |
Fund net assets | $153,115,776% |
Total number of portfolio holdings | $26% |
Total advisory fees paid | $814,375% |
Portfolio turnover rate | $39% |
Information Technology | 57.8)% |
Communication Services | 13.1)% |
Financials | 8.9)% |
Consumer Discretionary | 8.5)% |
Health Care | 5.5)% |
Industrials | 4.1)% |
Consumer Staples | 1.9)% |
Short-Term Investment Fund | 1.3)% |
Other Assets/Liabilities (Net) | (1.1)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Class | $87 | 0.72% |
Factor | Performance Impact | Observations |
Technology | Positive | Technology sector stock selections and overweight versus the benchmark led to relative outperformance in the period. |
Consumer Discretionary | Positive | Consumer Discretionary sector stock selections and underweight versus the benchmark also contributed to relative outperformance in the period. |
Financials | Negative | Financials sector stock selections and overweight versus the benchmark detracted from relative performance in the period. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Institutional Class | 41.99% | 16.31% | 14.69% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 1000® Growth Index | 33.48% | 19.34% | 16.33% |
S&P 500® Index | 24.56% | 15.05% | 12.86% |
Fund net assets | $153,115,776% |
Total number of portfolio holdings | $26% |
Total advisory fees paid | $814,375% |
Portfolio turnover rate | $39% |
Information Technology | 57.8)% |
Communication Services | 13.1)% |
Financials | 8.9)% |
Consumer Discretionary | 8.5)% |
Health Care | 5.5)% |
Industrials | 4.1)% |
Consumer Staples | 1.9)% |
Short-Term Investment Fund | 1.3)% |
Other Assets/Liabilities (Net) | (1.1)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class A | $125 | 1.18% |
Factor | Performance Impact | Observations |
Stock Selection | Positive | The Industrials and Consumer Discretionary sectors were the top two contributors, and the Information Technology and Energy sectors were the only two detractors. |
Sector Allocation | Positive | Utilities underweight and Information Technology overweight allocation contributed, while Financials and Energy underweights were the bottom two detractors. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class A | 6.81% | 8.29% | 8.16% |
Class A - excluding sales load | 12.41% | 9.39% | 8.71% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 2000® Index | 10.06% | 6.94% | 7.00% |
Fund net assets | $1,056,065,538% |
Total number of portfolio holdings | $75% |
Total advisory fees paid | $6,427,572% |
Portfolio turnover rate | $59% |
Industrials | 20.6)% |
Information Technology | 19.7)% |
Health Care | 17.7)% |
Consumer Discretionary | 14.8)% |
Real Estate | 8.0)% |
Financials | 7.8)% |
Materials | 3.4)% |
Communication Services | 3.3)% |
Energy | 2.6)% |
Short-Term Investment Funds | 3.6)% |
Other Assets/Liabilities (Net) | (1.5)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class C | $207 | 1.96% |
Factor | Performance Impact | Observations |
Stock Selection | Positive | The Industrials and Consumer Discretionary sectors were the top two contributors, and the Information Technology and Energy sectors were the only two detractors. |
Sector Allocation | Positive | Utilities underweight and Information Technology overweight allocation contributed, while Financials and Energy underweights were the bottom two detractors. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class C | 10.35% | 8.54% | 8.05% |
Class C - excluding sales load | 11.35% | 8.54% | 8.05% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 2000® Index | 10.06% | 6.94% | 7.00% |
Fund net assets | $1,056,065,538% |
Total number of portfolio holdings | $75% |
Total advisory fees paid | $6,427,572% |
Portfolio turnover rate | $59% |
Industrials | 20.6)% |
Information Technology | 19.7)% |
Health Care | 17.7)% |
Consumer Discretionary | 14.8)% |
Real Estate | 8.0)% |
Financials | 7.8)% |
Materials | 3.4)% |
Communication Services | 3.3)% |
Energy | 2.6)% |
Short-Term Investment Funds | 3.6)% |
Other Assets/Liabilities (Net) | (1.5)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class Y | $96 | 0.90% |
Factor | Performance Impact | Observations |
Stock Selection | Positive | The Industrials and Consumer Discretionary sectors were the top two contributors, and the Information Technology and Energy sectors were the only two detractors. |
Sector Allocation | Positive | Utilities underweight and Information Technology overweight allocation contributed, while Financials and Energy underweights were the bottom two detractors. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class Y | 12.63% | 9.71% | 9.02% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 2000® Index | 10.06% | 6.94% | 7.00% |
Fund net assets | $1,056,065,538% |
Total number of portfolio holdings | $75% |
Total advisory fees paid | $6,427,572% |
Portfolio turnover rate | $59% |
Industrials | 20.6)% |
Information Technology | 19.7)% |
Health Care | 17.7)% |
Consumer Discretionary | 14.8)% |
Real Estate | 8.0)% |
Financials | 7.8)% |
Materials | 3.4)% |
Communication Services | 3.3)% |
Energy | 2.6)% |
Short-Term Investment Funds | 3.6)% |
Other Assets/Liabilities (Net) | (1.5)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Class | $85 | 0.80% |
Factor | Performance Impact | Observations |
Stock Selection | Positive | The Industrials and Consumer Discretionary sectors were the top two contributors, and the Information Technology and Energy sectors were the only two detractors. |
Sector Allocation | Positive | Utilities underweight and Information Technology overweight allocation contributed, while Financials and Energy underweights were the bottom two detractors. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Institutional Class1 | 12.78% | 9.82% | 9.05% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 2000® Index | 10.06% | 6.94% | 7.00% |
1 | The inception date was October 30, 2017. Performance information was calculated using the historical performance of Class A shares for the periods prior to October 30, 2017. |
Fund net assets | $1,056,065,538% |
Total number of portfolio holdings | $75% |
Total advisory fees paid | $6,427,572% |
Portfolio turnover rate | $59% |
Industrials | 20.6)% |
Information Technology | 19.7)% |
Health Care | 17.7)% |
Consumer Discretionary | 14.8)% |
Real Estate | 8.0)% |
Financials | 7.8)% |
Materials | 3.4)% |
Communication Services | 3.3)% |
Energy | 2.6)% |
Short-Term Investment Funds | 3.6)% |
Other Assets/Liabilities (Net) | (1.5)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class R6 | $85 | 0.80% |
Factor | Performance Impact | Observations |
Stock Selection | Positive | The Industrials and Consumer Discretionary sectors were the top two contributors, and the Information Technology and Energy sectors were the only two detractors. |
Sector Allocation | Positive | Utilities underweight and Information Technology overweight allocation contributed, while Financials and Energy underweights were the bottom two detractors. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class R61 | 12.72% | 9.81% | 9.13% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 2000® Index | 10.06% | 6.94% | 7.00% |
1 | The inception date was December 23, 2014. Performance information was calculated using the historical performance of Class A shares for the periods prior to December 23, 2014. |
Fund net assets | $1,056,065,538% |
Total number of portfolio holdings | $75% |
Total advisory fees paid | $6,427,572% |
Portfolio turnover rate | $59% |
Industrials | 20.6)% |
Information Technology | 19.7)% |
Health Care | 17.7)% |
Consumer Discretionary | 14.8)% |
Real Estate | 8.0)% |
Financials | 7.8)% |
Materials | 3.4)% |
Communication Services | 3.3)% |
Energy | 2.6)% |
Short-Term Investment Funds | 3.6)% |
Other Assets/Liabilities (Net) | (1.5)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class A | $117 | 1.08% |
Factor | Performance Impact | Observations |
Industrials | Positive | Vertiv Holdings Co. rose sharply as artificial intelligence (AI) increased data center demand for their products. |
Information Technology | Positive | Increased demand for semiconductors for AI, in addition to other end markets had a positive impact on performance. |
Consumer Discretionary | Negative | Challenging automotive production volumes and building negative sentiment on electric vehicles weighed on suppliers to the original equipment manufacturers including Aptiv plc. |
Materials | Negative | Concerns over future demand for clean hydrogen pressured Air Products & Chemicals Inc. given its large, planned capital investments. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class A | 10.87% | 9.16% | 8.10% |
Class A - excluding sales load | 16.71% | 10.30% | 8.74% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 1000® Value Index | 13.06% | 9.01% | 8.23% |
Fund net assets | $544,544,328% |
Total number of portfolio holdings | $52% |
Total advisory fees paid | $3,019,882% |
Portfolio turnover rate | $28% |
Financials | 15.5)% |
Health Care | 12.0)% |
Energy | 11.7)% |
Consumer Discretionary | 11.3)% |
Information Technology | 10.9)% |
Industrials | 9.4)% |
Materials | 8.2)% |
Communication Services | 6.0)% |
Utilities | 4.7)% |
Consumer Staples | 4.4)% |
Real Estate | 3.4)% |
Short-Term Investment Funds | 3.4)% |
Other Assets/Liabilities (Net) | (0.9)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class C | $197 | 1.83% |
Factor | Performance Impact | Observations |
Industrials | Positive | Vertiv Holdings Co. rose sharply as artificial intelligence (AI) increased data center demand for their products. |
Information Technology | Positive | Increased demand for semiconductors for AI, in addition to other end markets. |
Consumer Discretionary | Negative | Challenging automotive production volumes and building negative sentiment on electric vehicles weighed on suppliers to the original equipment manufacturers including Aptiv plc. |
Materials | Negative | Concerns over future demand for clean hydrogen pressured Air Products and Chemicals Inc. given their large, planned capital investments. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class C | 14.76% | 9.47% | 8.07% |
Class C - excluding sales load | 15.76% | 9.47% | 8.07% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 1000® Value Index | 13.06% | 9.01% | 8.23% |
Fund net assets | $544,544,328% |
Total number of portfolio holdings | $52% |
Total advisory fees paid | $3,019,882% |
Portfolio turnover rate | $28% |
Financials | 15.5)% |
Health Care | 12.0)% |
Energy | 11.7)% |
Consumer Discretionary | 11.3)% |
Information Technology | 10.9)% |
Industrials | 9.4)% |
Materials | 8.2)% |
Communication Services | 6.0)% |
Utilities | 4.7)% |
Consumer Staples | 4.4)% |
Real Estate | 3.4)% |
Short-Term Investment Funds | 3.4)% |
Other Assets/Liabilities (Net) | (0.9)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class Y | $90 | 0.83% |
Factor | Performance Impact | Observations |
Industrials | Positive | Vertiv Holdings Co. rose sharply as artificial intelligence (AI) increased data center demand for their products. |
Information Technology | Positive | Increased demand for semiconductors for AI, in addition to other end markets. |
Consumer Discretionary | Negative | Challenging automotive production volumes and building negative sentiment on electric vehicles weighed on suppliers to the original equipment manufacturers including Aptiv plc. |
Materials | Negative | Concerns over future demand for clean hydrogen pressured Air Products and Chemicals Inc. given their large, planned capital investments. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class Y | 16.90% | 10.57% | 9.01% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 1000® Value Index | 13.06% | 9.01% | 8.23% |
Fund net assets | $544,544,328% |
Total number of portfolio holdings | $52% |
Total advisory fees paid | $3,019,882% |
Portfolio turnover rate | $28% |
Financials | 15.5)% |
Health Care | 12.0)% |
Energy | 11.7)% |
Consumer Discretionary | 11.3)% |
Information Technology | 10.9)% |
Industrials | 9.4)% |
Materials | 8.2)% |
Communication Services | 6.0)% |
Utilities | 4.7)% |
Consumer Staples | 4.4)% |
Real Estate | 3.4)% |
Short-Term Investment Funds | 3.4)% |
Other Assets/Liabilities (Net) | (0.9)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Institutional Class | $74 | 0.68% |
Factor | Performance Impact | Observations |
Industrials | Positive | Vertiv Holdings Co. rose sharply as artificial intelligence (AI) increased data center demand for their products. |
Information Technology | Positive | Increased demand for semiconductors for AI, in addition to other end markets. |
Consumer Discretionary | Negative | Challenging automotive production volumes and building negative sentiment on electric vehicles weighed on suppliers to the original equipment manufacturers including Aptiv plc. |
Materials | Negative | Concerns over future demand for clean hydrogen pressured Air Products and Chemicals Inc. given their large, planned capital investments. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Institutional Class | 17.14% | 10.75% | 9.17% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 1000® Value Index | 13.06% | 9.01% | 8.23% |
Fund net assets | $544,544,328% |
Total number of portfolio holdings | $52% |
Total advisory fees paid | $3,019,882% |
Portfolio turnover rate | $28% |
Financials | 15.5)% |
Health Care | 12.0)% |
Energy | 11.7)% |
Consumer Discretionary | 11.3)% |
Information Technology | 10.9)% |
Industrials | 9.4)% |
Materials | 8.2)% |
Communication Services | 6.0)% |
Utilities | 4.7)% |
Consumer Staples | 4.4)% |
Real Estate | 3.4)% |
Short-Term Investment Funds | 3.4)% |
Other Assets/Liabilities (Net) | (0.9)% |
Total | 100.0)% |
Class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Class R6 | $68 | 0.63% |
Factor | Performance Impact | Observations |
Industrials | Positive | Vertiv Holdings Co. rose sharply as artificial intelligence (AI) increased data center demand for their products. |
Information Technology | Positive | Increased demand for semiconductors for AI, in addition to other end markets. |
Consumer Discretionary | Negative | Challenging automotive production volumes and building negative sentiment on electric vehicles weighed on suppliers to the original equipment manufacturers including Aptiv plc. |
Materials | Negative | Concerns over future demand for clean hydrogen pressured Air Products and Chemicals Inc. given their large, planned capital investments. |
AVERAGE ANNUAL TOTAL RETURNS | 1 Year | 5 Years | 10 Years |
Class R61 | 17.29% | 10.71% | 9.08% |
Russell 3000® Index | 23.13% | 14.14% | 12.15% |
Russell 1000® Value Index | 13.06% | 9.01% | 8.23% |
1 | The inception date was October 28, 2021. Performance information was calculated using the historical performance of Class A shares for the periods prior to October 28, 2021. |
Fund net assets | $544,544,328% |
Total number of portfolio holdings | $52% |
Total advisory fees paid | $3,019,882% |
Portfolio turnover rate | $28% |
Financials | 15.5)% |
Health Care | 12.0)% |
Energy | 11.7)% |
Consumer Discretionary | 11.3)% |
Information Technology | 10.9)% |
Industrials | 9.4)% |
Materials | 8.2)% |
Communication Services | 6.0)% |
Utilities | 4.7)% |
Consumer Staples | 4.4)% |
Real Estate | 3.4)% |
Short-Term Investment Funds | 3.4)% |
Other Assets/Liabilities (Net) | (0.9)% |
Total | 100.0)% |
(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 19(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 $155,000 and $171,300 for the fiscal years ended June 30, 2024 and June 30, 2023, 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 $6,800 and $21,100 for the fiscal years ended June 30, 2024 and June 30, 2023, respectively. These fees are associated with Form N-1A filings and out of scope expenses for 2024 and Form NCSR/A filings and out of scope expenses for 2023. |
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 $60,962 and $73,144 for the fiscal years ended June 30, 2024 and June 30, 2023, 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 $20,107 and $16,720 for the fiscal years ended June 30, 2024 and June 30, 2023, respectively. The fees relate to the PFIC analyzer, Global Withholding Tax Reporter and Rapid Security Analyzer subscriptions. |
(e)(1) |
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 $1,679,199 and $1,177,706 for the fiscal years ended June 30, 2024 and June 30, 2023, 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 7 of this form. |
(b) | Not applicable. |
Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.
The financial statements including the financial highlights are attached herewith.
Touchstone Strategic Trust |
Touchstone Balanced Fund |
Touchstone Core Municipal Bond Fund |
Touchstone International Value Fund (formerly Touchstone International Equity Fund) |
Touchstone Large Cap Focused Fund |
Touchstone Large Cap Fund |
Touchstone Large Company Growth Fund |
Touchstone Small Company Fund |
Touchstone Value Fund |
Shares | Market Value | |||
Common Stocks — 63.9% | ||||
Information Technology — 19.7% | ||||
211,474 | Apple, Inc. | $ 44,540,654 | ||
39,578 | International Business Machines Corp. | 6,845,015 | ||
132,986 | Microsoft Corp. | 59,438,093 | ||
119,729 | NVIDIA Corp. | 14,791,321 | ||
111,072 | Oracle Corp. | 15,683,366 | ||
50,655 | Salesforce, Inc. | 13,023,400 | ||
43,613 | Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) ADR | 7,580,375 | ||
59,302 | Texas Instruments, Inc. | 11,536,018 | ||
32,460 | Workday, Inc. - Class A* | 7,256,758 | ||
180,695,000 | ||||
Communication Services — 10.2% | ||||
203,278 | Alphabet, Inc. - Class C | 37,285,251 | ||
196,354 | Comcast Corp. - Class A | 7,689,223 | ||
72,764 | Meta Platforms, Inc. - Class A | 36,689,064 | ||
10,920 | Netflix, Inc.* | 7,369,689 | ||
42,324 | Walt Disney Co. (The) | 4,202,350 | ||
93,235,577 | ||||
Financials — 8.9% | ||||
226,643 | Bank of America Corp. | 9,013,592 | ||
61,936 | Berkshire Hathaway, Inc. - Class B* | 25,195,565 | ||
97,303 | Charles Schwab Corp. (The) | 7,170,258 | ||
35,137 | Goldman Sachs Group, Inc. (The) | 15,893,168 | ||
6,506 | Markel Group, Inc.* | 10,251,244 | ||
53,602 | Visa, Inc. - Class A | 14,068,917 | ||
81,592,744 | ||||
Health Care — 8.3% | ||||
33,478 | Becton Dickinson & Co. | 7,824,143 | ||
82,913 | BioMarin Pharmaceutical, Inc.* | 6,826,227 | ||
149,065 | Bristol-Myers Squibb Co. | 6,190,670 | ||
45,085 | HCA Healthcare, Inc. | 14,484,909 | ||
93,696 | Johnson & Johnson | 13,694,607 | ||
133,584 | Medtronic PLC | 10,514,397 | ||
32,291 | UnitedHealth Group, Inc. | 16,444,515 | ||
75,979,468 | ||||
Consumer Discretionary — 5.2% | ||||
50,301 | Airbnb, Inc. - Class A* | 7,627,140 | ||
35,184 | Alibaba Group Holding Ltd. (China) ADR | 2,533,248 | ||
168,092 | Amazon.com, Inc.* | 32,483,779 | ||
64,894 | Starbucks Corp. | 5,051,998 | ||
47,696,165 | ||||
Industrials — 4.9% | ||||
42,374 | Boeing Co. (The)* | 7,712,492 | ||
17,118 | FedEx Corp. | 5,132,661 | ||
16,875 | Hubbell, Inc. | 6,167,475 | ||
96,838 | RTX Corp. | 9,721,567 | ||
162,613 | Southwest Airlines Co. | 4,652,358 | ||
105,250 | SS&C Technologies Holdings, Inc. | 6,596,017 | ||
57,875 | Stanley Black & Decker, Inc. | 4,623,634 | ||
44,606,204 | ||||
Consumer Staples — 2.6% | ||||
29,897 | Diageo PLC (United Kingdom) ADR | 3,769,414 | ||
182,961 | Monster Beverage Corp.* | 9,138,902 | ||
107,686 | Philip Morris International, Inc. | 10,911,822 | ||
23,820,138 |
Shares | Market Value | |||
Common Stocks — 63.9% (Continued) | ||||
Energy — 1.8% | ||||
110,577 | Exxon Mobil Corp. | $ 12,729,624 | ||
83,496 | Schlumberger NV | 3,939,341 | ||
16,668,965 | ||||
Materials — 1.6% | ||||
107,398 | DuPont de Nemours, Inc. | 8,644,465 | ||
65,020 | International Flavors & Fragrances, Inc. | 6,190,554 | ||
14,835,019 | ||||
Real Estate — 0.7% | ||||
31,755 | Jones Lang LaSalle, Inc.* | 6,518,666 | ||
Total Common Stocks | $585,647,946 |
Principal Amount | ||||
Corporate Bonds — 12.5% | ||||
Financials — 3.2% | ||||
$ 402,000 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland), 2.450%, 10/29/26 | 375,031 | ||
924,000 | AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Ireland), 3.000%, 10/29/28 | 840,135 | ||
1,300,000 | American Express Co., 5.282%, 7/27/29 | 1,303,236 | ||
1,219,000 | American Tower Corp. REIT, 5.900%, 11/15/33 | 1,250,474 | ||
1,110,000 | Ares Capital Corp., 3.250%, 7/15/25 | 1,078,427 | ||
802,000 | Bank of America Corp., 2.687%, 4/22/32 | 678,909 | ||
815,000 | Bank of America Corp., 3.705%, 4/24/28 | 780,708 | ||
932,000 | Bank of Montreal (Canada), 3.803%, 12/15/32 | 875,864 | ||
1,020,000 | Bank of New York Mellon Corp. (The), 5.834%, 10/25/33 | 1,057,909 | ||
1,009,000 | Bank of Nova Scotia (The) (Canada), 3.625%, 10/27/81 | 853,774 | ||
1,225,000 | Barclays PLC (United Kingdom), 2.894%, 11/24/32 | 1,015,316 | ||
690,000 | Berkshire Hathaway Finance Corp., 4.250%, 1/15/49 | 591,997 | ||
765,000 | Citigroup, Inc., 3.200%, 10/21/26 | 729,371 | ||
645,000 | Citigroup, Inc., 6.174%, 5/25/34 | 656,848 | ||
1,044,000 | Citizens Bank NA, 4.575%, 8/9/28 | 1,008,304 | ||
1,255,000 | Corestates Capital III, 144a, (TSFR3M + 0.832%), 6.154%, 2/15/27(A) | 1,227,198 | ||
1,213,000 | Goldman Sachs Group, Inc. (The), 2.615%, 4/22/32 | 1,022,164 | ||
674,000 | Goldman Sachs Group, Inc. (The), 3.691%, 6/5/28 | 645,108 | ||
1,276,000 | JPMorgan Chase & Co., 2.956%, 5/13/31 | 1,119,232 | ||
1,000,000 | JPMorgan Chase & Co., 3.509%, 1/23/29 | 946,087 | ||
879,000 | Macquarie Airfinance Holdings Ltd. (United Kingdom), 144a, 6.400%, 3/26/29 | 894,087 | ||
1,250,000 | Mastercard, Inc., 2.000%, 11/18/31 | 1,029,339 | ||
1,086,000 | Morgan Stanley, 3.950%, 4/23/27 | 1,048,989 | ||
839,000 | Morgan Stanley, 5.297%, 4/20/37 | 804,294 | ||
948,000 | New York Life Global Funding, 144a, 4.550%, 1/28/33 | 903,896 | ||
1,220,708 | Northwestern Mutual Life Insurance Co. (The), 144a, 3.850%, 9/30/47 | 928,757 | ||
1,171,000 | PNC Capital Trust, (TSFR3M + 0.832%), 6.178%, 6/1/28(A) | 1,111,409 | ||
1,105,000 | Royal Bank of Canada (Canada), MTN, 5.200%, 8/1/28 | 1,112,782 | ||
1,398,000 | State Street Corp., (TSFR3M + 1.262%), 6.601%, 6/15/47(A) | 1,204,028 | ||
1,844,000 | Truist Bank, Ser A, (TSFR3M + 0.932%), 6.254%, 5/15/27(A) | 1,807,880 | ||
807,000 | US Bancorp, 4.967%, 7/22/33 | 762,323 | ||
29,663,876 | ||||
Industrials — 1.5% | ||||
1,251,000 | Amcor Flexibles North America, Inc., 2.630%, 6/19/30 | 1,074,255 | ||
610,000 | Boeing Co. (The), 144a, 6.528%, 5/1/34 | 625,721 | ||
983,000 | Burlington Northern Santa Fe LLC, 5.750%, 5/1/40 | 1,012,247 |
Principal Amount | MarketValue | |||
Corporate Bonds — 12.5% (Continued) | ||||
Industrials — 1.5% (Continued) | ||||
$ 646,000 | Carrier Global Corp., 3.577%, 4/5/50 | $ 471,566 | ||
934,000 | FedEx Corp., 5.100%, 1/15/44 | 857,703 | ||
1,247,000 | Ingersoll Rand, Inc., 5.176%, 6/15/29 | 1,247,724 | ||
1,420,000 | John Deere Capital Corp., MTN, 5.100%, 4/11/34 | 1,418,664 | ||
808,000 | Norfolk Southern Corp., 4.837%, 10/1/41 | 739,412 | ||
685,000 | Penske Truck Leasing Co. LP / PTL Finance Corp., 144a, 5.350%, 1/12/27 | 683,822 | ||
1,438,000 | Textron Financial Corp., 144a, (TSFR3M + 1.997%), 7.319%, 2/15/42(A) | 1,264,491 | ||
888,000 | Timken Co. (The), 4.500%, 12/15/28 | 861,402 | ||
1,303,000 | Waste Management, Inc., 4.875%, 2/15/34 | 1,280,288 | ||
1,846,000 | Weir Group PLC (The) (United Kingdom), 144a, 2.200%, 5/13/26 | 1,732,493 | ||
676,000 | WestRock MWV LLC, 8.200%, 1/15/30 | 771,784 | ||
14,041,572 | ||||
Consumer Discretionary — 1.4% | ||||
1,795,000 | 7-Eleven, Inc., 144a, 1.800%, 2/10/31 | 1,440,141 | ||
71,805 | Air Canada 2015-1 Class A Pass Through Trust (Canada), 144a, 3.600%, 3/15/27 | 68,148 | ||
1,099,000 | BAT Capital Corp. (United Kingdom), 3.557%, 8/15/27 | 1,044,038 | ||
355,000 | Brunswick Corp., 4.400%, 9/15/32 | 316,814 | ||
1,461,000 | General Motors Financial Co., Inc., 3.100%, 1/12/32 | 1,230,000 | ||
555,000 | General Motors Financial Co., Inc., 5.650%, 1/17/29 | 558,075 | ||
605,000 | Home Depot, Inc. (The), 5.950%, 4/1/41 | 642,277 | ||
999,000 | Hyundai Capital America, 144a, 5.350%, 3/19/29 | 997,859 | ||
754,000 | Imperial Brands Finance PLC (United Kingdom), 144a, 6.125%, 7/27/27 | 767,204 | ||
1,130,000 | Lowe's Cos., Inc., 4.500%, 4/15/30 | 1,097,368 | ||
715,000 | Mattel, Inc., 5.450%, 11/1/41 | 641,969 | ||
1,388,000 | Meritage Homes Corp., 144a, 3.875%, 4/15/29 | 1,277,821 | ||
1,174,000 | Toll Brothers Finance Corp., 3.800%, 11/1/29 | 1,086,605 | ||
680,000 | Toyota Motor Credit Corp., MTN, 4.650%, 1/5/29 | 672,052 | ||
1,263,000 | Warnermedia Holdings, Inc., 5.141%, 3/15/52 | 988,124 | ||
12,828,495 | ||||
Consumer Staples — 1.2% | ||||
725,000 | Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. (Belgium), 4.900%, 2/1/46 | 671,078 | ||
828,000 | Archer-Daniels-Midland Co., 5.375%, 9/15/35 | 840,003 | ||
415,000 | Archer-Daniels-Midland Co., 5.935%, 10/1/32 | 443,439 | ||
995,000 | Ashtead Capital, Inc. (United Kingdom), 144a, 4.000%, 5/1/28 | 940,491 | ||
1,876,000 | Coca-Cola Co. (The), 2.500%, 3/15/51 | 1,145,380 | ||
635,000 | Kroger Co. (The), 5.000%, 4/15/42 | 579,934 | ||
960,000 | Mars, Inc., 144a, 3.875%, 4/1/39 | 818,060 | ||
697,000 | Mars, Inc., 144a, 3.600%, 4/1/34 | 618,530 | ||
1,974,000 | Pernod Ricard International Finance LLC, 144a, 1.625%, 4/1/31 | 1,576,288 | ||
1,349,000 | Philip Morris International, Inc., 5.375%, 2/15/33 | 1,342,096 | ||
650,000 | Starbucks Corp., 3.350%, 3/12/50 | 444,777 | ||
815,000 | Tyson Foods, Inc., 5.400%, 3/15/29 | 816,788 | ||
808,000 | Walmart, Inc., 4.500%, 9/9/52 | 719,597 | ||
10,956,461 | ||||
Health Care — 1.1% | ||||
832,000 | AbbVie, Inc., 4.450%, 5/14/46 | 725,343 | ||
917,000 | Alcon Finance Corp. (Switzerland), 144a, 3.800%, 9/23/49 | 693,272 | ||
1,068,000 | Amgen, Inc., 5.150%, 3/2/28 | 1,068,198 | ||
700,000 | Becton Dickinson & Co., 4.685%, 12/15/44 | 619,219 | ||
857,000 | CommonSpirit Health, 4.187%, 10/1/49 | 688,076 | ||
782,000 | CVS Health Corp., 5.125%, 7/20/45 | 691,339 |
Principal Amount | MarketValue | |||
Corporate Bonds — 12.5% (Continued) | ||||
Health Care — 1.1% (Continued) | ||||
$ 1,036,000 | DH Europe Finance II Sarl, 3.250%, 11/15/39 | $ 821,545 | ||
942,000 | Elevance Health, Inc., 4.750%, 2/15/33 | 909,901 | ||
1,066,000 | HCA, Inc., 5.375%, 9/1/26 | 1,063,311 | ||
832,000 | Thermo Fisher Scientific, Inc., 5.404%, 8/10/43 | 834,504 | ||
1,062,000 | UnitedHealth Group, Inc., 3.500%, 8/15/39 | 861,055 | ||
1,081,000 | Viatris, Inc., 2.700%, 6/22/30 | 917,680 | ||
9,893,443 | ||||
Energy — 1.1% | ||||
1,261,000 | BP Capital Markets America, Inc., 4.970%, 10/17/29 | 1,258,261 | ||
1,126,000 | Cheniere Energy Partners LP, 3.250%, 1/31/32 | 960,927 | ||
355,000 | Cheniere Energy Partners LP, 4.000%, 3/1/31 | 322,899 | ||
1,063,000 | DCP Midstream Operating LP, 144a, 6.750%, 9/15/37 | 1,148,088 | ||
884,000 | HF Sinclair Corp., 144a, 5.000%, 2/1/28 | 856,744 | ||
576,692 | MC Brazil Downstream Trading SARL (Brazil), 144a, 7.250%, 6/30/31 | 511,068 | ||
1,161,000 | Midwest Connector Capital Co. LLC, 144a, 4.625%, 4/1/29 | 1,127,509 | ||
1,244,000 | NGPL PipeCo LLC, 144a, 7.768%, 12/15/37 | 1,438,830 | ||
1,046,000 | Occidental Petroleum Corp., 7.950%, 6/15/39 | 1,207,994 | ||
977,000 | Western Midstream Operating LP, 5.250%, 2/1/50 | 858,124 | ||
9,690,444 | ||||
Information Technology — 0.9% | ||||
1,424,000 | Apple, Inc., 4.650%, 2/23/46 | 1,319,033 | ||
1,407,000 | Broadcom, Inc., 4.150%, 11/15/30 | 1,330,440 | ||
1,708,000 | Cisco Systems, Inc., 4.850%, 2/26/29 | 1,708,226 | ||
1,289,000 | Marvell Technology, Inc., 2.950%, 4/15/31 | 1,113,713 | ||
671,000 | Micron Technology, Inc., 2.703%, 4/15/32 | 556,836 | ||
277,000 | Micron Technology, Inc., 6.750%, 11/1/29 | 294,807 | ||
1,742,000 | Microsoft Corp., 2.525%, 6/1/50 | 1,106,567 | ||
393,000 | Oracle Corp., 3.600%, 4/1/40 | 303,200 | ||
313,000 | Oracle Corp., 4.300%, 7/8/34 | 285,684 | ||
8,018,506 | ||||
Communication Services — 0.7% | ||||
791,000 | AT&T, Inc., 3.800%, 12/1/57 | 554,854 | ||
535,000 | AT&T, Inc., 4.500%, 5/15/35 | 493,866 | ||
510,000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.384%, 10/23/35 | 498,343 | ||
711,000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 6.484%, 10/23/45 | 651,606 | ||
796,000 | Comcast Corp., 4.000%, 3/1/48 | 628,798 | ||
386,000 | Paramount Global, 4.200%, 5/19/32 | 315,881 | ||
1,357,000 | Rogers Communications, Inc. (Canada), 5.300%, 2/15/34 | 1,334,601 | ||
1,178,000 | T-Mobile USA, Inc., 3.875%, 4/15/30 | 1,101,924 | ||
566,000 | T-Mobile USA, Inc., 5.750%, 1/15/54 | 566,063 | ||
1,103,000 | Verizon Communications, Inc., 2.987%, 10/30/56 | 679,802 | ||
6,825,738 | ||||
Utilities — 0.6% | ||||
1,537,000 | CMS Energy Corp., 4.750%, 6/1/50 | 1,407,106 | ||
738,000 | Duke Energy Progress LLC, 4.150%, 12/1/44 | 597,129 | ||
719,000 | Edison International, 4.125%, 3/15/28 | 687,053 | ||
876,000 | Electricite de France SA (France), 144a, 4.875%, 9/21/38 | 786,541 | ||
1,135,000 | Ohio Power Co., Ser R, 2.900%, 10/1/51 | 697,897 | ||
1,250,000 | Pacific Gas and Electric Co., 3.500%, 8/1/50 | 820,519 | ||
887,000 | PacifiCorp., 5.750%, 4/1/37 | 881,975 | ||
5,878,220 |
Principal Amount | MarketValue | |||
Corporate Bonds — 12.5% (Continued) | ||||
Real Estate — 0.6% | ||||
$ 992,000 | Crown Castle International Corp. REIT, 3.650%, 9/1/27 | $ 943,049 | ||
1,105,000 | Host Hotels & Resorts LP REIT, Ser F, 4.500%, 2/1/26 | 1,085,073 | ||
1,206,000 | Invitation Homes Operating Partnership LP REIT, 4.150%, 4/15/32 | 1,102,169 | ||
735,000 | Sabra Health Care LP REIT, 5.125%, 8/15/26 | 723,351 | ||
446,000 | Store Capital LLC REIT, 2.700%, 12/1/31 | 357,802 | ||
274,000 | Store Capital LLC REIT, 2.750%, 11/18/30 | 227,237 | ||
623,000 | Store Capital LLC REIT, 4.625%, 3/15/29 | 588,758 | ||
5,027,439 | ||||
Materials — 0.2% | ||||
531,000 | Braskem America Finance Co. (Brazil), 144a, 7.125%, 7/22/41 | 477,018 | ||
1,049,000 | Celanese US Holdings LLC, 6.379%, 7/15/32 | 1,079,773 | ||
846,000 | Sherwin-Williams Co. (The), 4.500%, 6/1/47 | 716,382 | ||
2,273,173 | ||||
Total Corporate Bonds | $115,097,367 | |||
U.S. Treasury Obligations — 11.7% | ||||
3,374,000 | U.S. Treasury Bond, 4.000%, 11/15/52 | 3,092,350 | ||
15,065,000 | U.S. Treasury Bond, 4.750%, 11/15/43 | 15,330,991 | ||
24,000,000 | U.S. Treasury Note, 4.000%, 1/31/29 | 23,644,688 | ||
19,240,000 | U.S. Treasury Note, 4.000%, 2/15/34 | 18,716,913 | ||
12,345,000 | U.S. Treasury Note, 4.375%, 11/30/28 | 12,349,340 | ||
15,050,000 | U.S. Treasury Note, 4.375%, 5/15/34 | 15,087,625 | ||
14,015,000 | U.S. Treasury Note, 4.625%, 4/30/29 | 14,184,713 | ||
4,585,000 | U.S. Treasury Note, 4.875%, 5/31/26 | 4,594,134 | ||
Total U.S. Treasury Obligations | $107,000,754 | |||
U.S. Government Mortgage-Backed Obligations — 3.5% | ||||
1,067 | FHLMC, Pool #G08062, 5.000%, 6/1/35 | 1,056 | ||
107,602 | FHLMC, Pool #G08637, 4.000%, 4/1/45 | 101,051 | ||
672,622 | FHLMC, Pool #Q02664, 4.500%, 8/1/41 | 655,263 | ||
1,167,116 | FHLMC, Pool #Q29056, 4.000%, 10/1/44 | 1,093,659 | ||
565,018 | FHLMC, Pool #Q29260, 4.000%, 10/1/44 | 530,817 | ||
2,012,123 | FHLMC REMIC, Pool #RA7784, 4.500%, 8/1/52 | 1,902,793 | ||
1,508,416 | FHLMC REMIC, Pool #SB0855, 3.000%, 7/1/37 | 1,399,620 | ||
2,184,610 | FHLMC REMIC, Pool #SD4499, 3.500%, 5/1/52 | 1,940,275 | ||
1,330,075 | FHLMC REMIC, Pool #SD8148, 3.000%, 5/1/51 | 1,140,188 | ||
220,709 | FNMA, Pool #725423, 5.500%, 5/1/34 | 221,779 | ||
196,041 | FNMA, Pool #725610, 5.500%, 7/1/34 | 196,991 | ||
42,005 | FNMA, Pool #748895, 6.000%, 12/1/33 | 41,645 | ||
86,135 | FNMA, Pool #AD9193, 5.000%, 9/1/40 | 85,320 | ||
223,803 | FNMA, Pool #AH8925, 4.500%, 3/1/41 | 217,747 | ||
255,273 | FNMA, Pool #AR9195, 3.000%, 3/1/43 | 225,581 | ||
418,950 | FNMA, Pool #BC1809, 3.500%, 5/1/46 | 379,922 | ||
1,624,591 | FNMA, Pool #BT7156, 2.000%, 8/1/51 | 1,291,230 | ||
1,773,070 | FNMA, Pool #CB1336, 2.000%, 8/1/41 | 1,501,760 | ||
2,355,223 | FNMA, Pool #CB2643, 2.500%, 1/1/52 | 1,935,360 | ||
1,671,810 | FNMA, Pool #FM5085, 2.000%, 12/1/50 | 1,325,095 | ||
525,564 | FNMA, Pool #FM5166, 3.000%, 12/1/50 | 452,773 | ||
443,084 | FNMA, Pool #FM5279, 3.500%, 11/1/50 | 397,715 | ||
335,331 | FNMA, Pool #FM5468, 2.500%, 1/1/36 | 305,625 | ||
513,571 | FNMA, Pool #FM5682, 2.500%, 1/1/51 | 424,192 | ||
1,319,486 | FNMA, Pool #FM7913, 2.000%, 4/1/36 | 1,169,592 | ||
1,696,206 | FNMA, Pool #FM8360, 2.500%, 8/1/51 | 1,409,027 | ||
1,670,190 | FNMA, Pool #FM8361, 2.500%, 8/1/51 | 1,384,052 | ||
1,243,708 | FNMA, Pool #FM9448, 2.000%, 10/1/51 | 978,556 | ||
1,061,648 | FNMA, Pool #FS0816, 2.500%, 2/1/37 | 961,162 | ||
2,103,826 | FNMA, Pool #FS6793, 4.000%, 6/1/53 | 1,930,792 | ||
2,235,436 | FNMA, Pool #FS6899, 3.000%, 11/1/51 | 1,907,606 | ||
568,870 | FNMA, Pool #MA4166, 3.000%, 10/1/40 | 505,557 | ||
382,507 | GNMA, Pool #5175, 4.500%, 9/20/41 | 373,560 |
Principal Amount | MarketValue | |||
U.S. Government Mortgage-Backed Obligations — 3.5% (Continued) | ||||
$ 1,633,134 | GNMA, Pool #786741, 3.500%, 4/20/52 | $ 1,472,615 | ||
2,092,959 | GNMA, Pool #MA8945, 4.000%, 6/20/53 | 1,937,989 | ||
Total U.S. Government Mortgage-Backed Obligations | $31,797,965 | |||
Commercial Mortgage-Backed Securities — 2.0% | ||||
825,000 | BANK, Ser 2018-BN14, Class A3, 3.966%, 9/15/60 | 783,509 | ||
26,123,036 | BANK, Ser 2019-BN21, Class XA, 0.956%, 10/17/52(A)(B)(C) | 884,837 | ||
905,000 | BANK, Ser 2020-BN26, Class A4, 2.403%, 3/15/63 | 771,816 | ||
1,150,000 | BANK, Ser 2022-BNK39, Class A4, 2.928%, 2/15/55(A)(C) | 978,723 | ||
670,000 | BBCMS Mortgage Trust, Ser 2024-5C27, Class AS, 6.410%, 7/15/57(A)(C) | 689,038 | ||
1,500,000 | BX Commercial Mortgage Trust, Ser 2020-VIV3, Class B, 144a, 3.662%, 3/9/44(A)(C) | 1,324,814 | ||
1,500,000 | BX Commercial Mortgage Trust, Ser 2020-VIV4, Class A, 144a, 2.843%, 3/9/44 | 1,300,156 | ||
390,000 | Citigroup Commercial Mortgage Trust, Ser 2017-P8, Class AS, 3.789%, 9/15/50(A)(C) | 362,174 | ||
755,000 | Citigroup Commercial Mortgage Trust, Ser 2020-GC46, Class A5, 2.717%, 2/15/53 | 660,614 | ||
1,220,000 | COMM Mortgage Trust, Ser 2018-HOME, Class A, 144a, 3.942%, 4/10/33(A)(C) | 1,112,348 | ||
700,000 | GS Mortgage Securities Trust, Ser 2017-FARM, Class B, 144a, 3.659%, 1/10/43(A)(C) | 596,142 | ||
1,205,000 | GS Mortgage Securities Trust, Ser 2020-GC47, Class A5, 2.377%, 5/12/53 | 1,024,935 | ||
1,000,000 | HONO Mortgage Trust, Ser 2021-LULU, Class B, 144a, (TSFR1M + 1.564%), 6.893%, 10/15/36(A) | 957,276 | ||
562,000,000 | Independence Plaza Trust, Ser 2018-INDP, Class XCP, 144a, 7/10/35(A)(B)(C) | 562 | ||
885,000 | JP Morgan Chase Commercial Mortgage Securities Trust, Ser 2017-JP7, Class A5, 3.454%, 9/15/50 | 822,590 | ||
665,000 | JPMBB Commercial Mortgage Securities Trust, Ser 2014-C25, Class AS, 4.065%, 11/15/47 | 626,177 | ||
500,000 | JPMorgan Chase Commercial Mortgage Securities Trust, Ser 2018-MINN, Class A, 144a, (TSFR1M + 1.317%), 6.646%, 11/15/35(A) | 475,601 | ||
1,100,000 | Morgan Stanley Capital I Trust, Ser 2018-H3, Class A5, 4.177%, 7/15/51 | 1,045,873 | ||
825,000 | SG Commercial Mortgage Securities Trust, Ser 2019-787E, Class A, 144a, 4.163%, 2/15/41 | 736,334 | ||
435,000 | UBS Commercial Mortgage Trust, Ser 2017-C1, Class AS, 3.724%, 6/15/50 | 405,409 | ||
495,000 | Wells Fargo Commercial Mortgage Trust, Ser 2015-P2, Class AS, 4.013%, 12/15/48 | 478,791 | ||
770,000 | Wells Fargo Commercial Mortgage Trust, Ser 2018-AUS, Class B, 144a, 4.194%, 8/17/36(A)(C) | 708,928 | ||
2,220,000 | Wells Fargo Commercial Mortgage Trust, Ser 2019-C53, Class A4, 3.040%, 10/15/52 | 1,993,200 | ||
Total Commercial Mortgage-Backed Securities | $18,739,847 | |||
Asset-Backed Securities — 1.8% | ||||
1,000,000 | AB BSL CLO 2 Ltd. (Cayman Islands), Ser 2021-2A, Class B1, 144a, (TSFR3M + 1.912%), 7.240%, 4/15/34(A) | 1,001,326 | ||
1,500,000 | AB BSL CLO 3, Ltd. (Cayman Islands), Ser 2021-3A, Class B, 144a, (TSFR3M + 1.962%), 7.286%, 10/20/34(A) | 1,502,979 | ||
337,295 | CF Hippolyta Issuer LLC, Ser 2020-1, Class A1, 144a, 1.690%, 7/15/60 | 319,625 |
Principal Amount | MarketValue | |||
Asset-Backed Securities — 1.8% (Continued) | ||||
$ 988,250 | CLI Funding VI LLC, Ser 2020-3A, Class A, 144a, 2.070%, 10/18/45 | $ 893,212 | ||
829,063 | Driven Brands Funding LLC, Ser 2019-1A, Class A2, 144a, 4.641%, 4/20/49 | 806,519 | ||
195,505 | Elara HGV Timeshare Issuer LLC, Ser 2019-A, Class B, 144a, 2.910%, 1/25/34 | 186,821 | ||
1,006,200 | Jack in the Box Funding LLC, Ser 2019-1A, Class A2II, 144a, 4.476%, 8/25/49 | 969,434 | ||
955,000 | Jack in the Box Funding LLC, Ser 2022-1A, Class A2I, 144a, 3.445%, 2/26/52 | 889,514 | ||
375,165 | Jersey Mike's Funding LLC, Ser 2019-1A, Class A2, 144a, 4.433%, 2/15/50 | 360,601 | ||
1,150,000 | Madison Park Funding XLIX Ltd. (Cayman Islands), Ser 2021-49A, Class B1, 144a, (TSFR3M + 1.962%), 7.288%, 10/19/34(A) | 1,151,680 | ||
824,500 | Neighborly Issuer LLC, Ser 2021-1A, Class A2, 144a, 3.584%, 4/30/51 | 737,694 | ||
1,500,000 | Palmer Square CLO, Ltd. (Cayman Islands), Ser 2021-4A, Class B, 144a, (TSFR3M + 1.912%), 7.240%, 10/15/34(A) | 1,502,840 | ||
977,500 | Planet Fitness Master Issuer LLC, Ser 2022-1A, Class A2I, 144a, 3.251%, 12/5/51 | 917,482 | ||
1,500,000 | Rockford Tower CLO, Ltd. (Cayman Islands), Ser 2021-3A, Class B, 144a, (TSFR3M + 2.012%), 7.336%, 10/20/34(A) | 1,501,500 | ||
294,031 | TAL Advantage VII LLC, Ser 2020-1A, Class A, 144a, 2.050%, 9/20/45 | 268,318 | ||
1,160,000 | Textainer Marine Containers, Ltd. (China), Ser 2021-3A, Class A, 144a, 1.940%, 8/20/46 | 997,771 | ||
1,400,000 | Towd Point Mortgage Trust, Ser 2015-6, Class B1, 144a, 3.847%, 4/25/55(A)(C) | 1,314,508 | ||
1,140,000 | Towd Point Mortgage Trust, Ser 2019-4, Class M1B, 144a, 3.000%, 10/25/59(A)(C) | 944,152 | ||
Total Asset-Backed Securities | $16,265,976 | |||
Non-Agency Collateralized Mortgage Obligations — 1.7% | ||||
68,243 | Agate Bay Mortgage Trust, Ser 2013-1, Class B3, 144a, 3.557%, 7/25/43(A)(C) | 64,553 | ||
250,278 | Agate Bay Mortgage Trust, Ser 2015-4, Class B2, 144a, 3.496%, 6/25/45(A)(C) | 238,255 | ||
370,741 | Agate Bay Mortgage Trust, Ser 2015-7, Class B1, 144a, 3.643%, 10/25/45(A)(C) | 340,619 | ||
1,387,956 | Angel Oak Mortgage Trust, Ser 2024-1, Class A1, 144a, 5.210%, 8/25/68(A)(C) | 1,360,815 | ||
480,536 | COLT Mortgage Loan Trust, Ser 2022-6, Class A1, 144a, 4.650%, 6/27/67(A)(C) | 469,945 | ||
134,971 | CSMC Trust, Ser 2013-IVR3, Class B2, 144a, 3.407%, 5/25/43(A)(C) | 129,929 | ||
255,613 | CSMC Trust, Ser 2015-1, Class B3, 144a, 3.897%, 1/25/45(A)(C) | 238,623 | ||
272,082 | CSMC Trust, Ser 2015-WIN1, Class B3, 144a, 3.769%, 12/25/44(A)(C) | 254,271 | ||
877,497 | Deephaven Residential Mortgage Trust, Ser 2022-2, Class A1, 144a, 4.300%, 3/25/67(A)(C) | 832,524 | ||
1,408,291 | GCAT Trust, Ser 2022-NQM2, Class A1, 144a, 4.210%, 2/25/67(A)(C) | 1,354,014 | ||
1,122,389 | GS Mortgage-Backed Securities Trust, Ser 2021-PJ8, Class A8, 144a, 2.500%, 1/25/52(A)(C) | 966,661 | ||
1,281,191 | GS Mortgage-Backed Securities Trust, Ser 2022-PJ1, Class A8, 144a, 2.500%, 5/28/52(A)(C) | 1,095,198 | ||
608,503 | JP Morgan Mortgage Trust, Ser 2017-1, Class B2, 144a, 3.449%, 1/25/47(A)(C) | 533,860 | ||
1,070,551 | JP Morgan Mortgage Trust, Ser 2020-5, Class B1, 144a, 3.570%, 12/25/50(A)(C) | 911,039 |
Principal Amount | MarketValue | |||
Non-Agency Collateralized Mortgage Obligations — 1.7% (Continued) | ||||
$ 1,439,842 | JP Morgan Mortgage Trust, Ser 2024-3, Class A6, 144a, 3.000%, 5/25/54(A)(C) | $ 1,295,735 | ||
573,777 | Mill City Mortgage Loan Trust, Ser 2018-3, Class M3, 144a, 3.250%, 8/25/58(A)(C) | 493,513 | ||
1,397,426 | Mill City Mortgage Loan Trust, Ser 2019-1, Class M1, 144a, 3.500%, 10/25/69(A)(C) | 1,284,407 | ||
131,279 | Sequoia Mortgage Trust, Ser 2015-2, Class A19, 144a, 3.500%, 5/25/45(A)(C) | 114,907 | ||
854,855 | Sequoia Mortgage Trust, Ser 2018-CH3, Class B1B, 144a, 4.764%, 8/25/48(A)(C) | 805,844 | ||
775,603 | Sequoia Mortgage Trust, Ser 2018-CH3, Class B2B, 144a, 4.764%, 8/25/48(A)(C) | 731,136 | ||
1,333,016 | Verus Securitization Trust, Ser 2022-7, Class A1, 144a, 5.152%, 7/25/67(A)(C) | 1,316,960 | ||
1,136,915 | Wells Fargo Mortgage Backed Securities Trust, Ser 2021-2, Class A3, 144a, 2.500%, 6/25/51(A)(C) | 979,394 | ||
Total Non-Agency Collateralized Mortgage Obligations | $15,812,202 | |||
Agency Collateralized Mortgage Obligations — 0.6% | ||||
515,000 | FHLMC REMIC, Ser 4991, Class HB, 2.000%, 7/25/50 | 358,806 | ||
1,650,000 | FHLMC REMIC, Ser 5178, Class CV, 2.000%, 11/25/40 | 1,175,003 | ||
1,500,000 | FNMA REMIC, Ser 2019-35, Class KB, 3.000%, 7/25/49 | 1,165,385 | ||
2,150,000 | FNMA REMIC, Ser 2022-16, Class KB, 2.500%, 11/25/49 | 1,606,917 | ||
1,370,000 | FREMF Mortgage Trust, Ser 2019-K103, Class B, 144a, 3.574%, 12/25/51(A)(C) | 1,243,666 | ||
154,361 | GNMA, Ser 2010-169, Class AW, 4.500%, 12/20/40 | 151,616 | ||
3,513,630 | GNMA, Ser 2012-147, Class IO, 0.542%, 4/16/54(A)(B)(C) | 36,604 | ||
Total Agency Collateralized Mortgage Obligations | $5,737,997 | |||
Sovereign Government Obligations — 0.3% | ||||
674,000 | Bahamas Government International Bond, 144a, 6.000%, 11/21/28 | 588,907 | ||
834,000 | Chile Government International Bond, 3.100%, 1/22/61 | 516,164 | ||
1,034,000 | Mexico Government International Bond, 3.771%, 5/24/61 | 631,907 | ||
870,000 | Republic of Poland Government International Bond, 5.500%, 3/18/54 | 844,879 | ||
Total Sovereign Government Obligations | $2,581,857 |
Shares | ||||
Short-Term Investment Fund — 1.6% | ||||
14,619,632 | Dreyfus Government Cash Management, Institutional Shares, 5.19%∞Ω | 14,619,632 | ||
Total Investment Securities—99.6% (Cost $686,436,170) | $913,301,543 | |||
Other Assets in Excess of Liabilities — 0.4% | 3,449,778 | |||
Net Assets — 100.0% | $916,751,321 |
(A) | Variable rate security - Rate reflected is the rate in effect as of June 30, 2024. |
(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. |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2024. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
CLO – Collateralized Loan Obligation |
DAC – Designated Activity Company |
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 |
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 |
TSFR1M – One Month Term Secured Overnight Financing Rate |
TSFR3M – Three Month Term Secured Overnight Financing Rate |
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, 2024, these securities were valued at $64,926,989 or 7.1% 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 | $585,647,946 | $— | $— | $585,647,946 |
Corporate Bonds | — | 115,097,367 | — | 115,097,367 |
U.S. Treasury Obligations | — | 107,000,754 | — | 107,000,754 |
U.S. Government Mortgage-Backed Obligations | — | 31,797,965 | — | 31,797,965 |
Commercial Mortgage-Backed Securities | — | 18,739,847 | — | 18,739,847 |
Asset-Backed Securities | — | 16,265,976 | — | 16,265,976 |
Non-Agency Collateralized Mortgage Obligations | — | 15,812,202 | — | 15,812,202 |
Agency Collateralized Mortgage Obligations | — | 5,737,997 | — | 5,737,997 |
Sovereign Government Obligations | — | 2,581,857 | — | 2,581,857 |
Short-Term Investment Fund | 14,619,632 | — | — | 14,619,632 |
Other Financial Instruments | ||||
Swap Agreements | ||||
Credit contracts | — | 63,037 | — | 63,037 |
Futures | ||||
Interest rate contracts | 146,407 | — | — | 146,407 |
Total Assets | $600,413,985 | $313,097,002 | $— | $913,510,987 |
Liabilities: | ||||
Other Financial Instruments | ||||
Futures | ||||
Interest rate contracts | $(244,647) | $— | $— | $(244,647) |
Total Liabilities | $(244,647) | $— | $— | $(244,647) |
Total | $600,169,338 | $313,097,002 | $— | $913,266,340 |
Description | Expiration Date | Number of Contracts | Notional Value | Unrealized Appreciation/ Depreciation |
Short Futures: | ||||
30-Year U.S. Ultra Treasury Bond | 9/19/2024 | 102 | $12,785,063 | $(244,647) |
Long Futures: | ||||
2-Year U.S. Treasury Note | 9/30/2024 | 297 | 60,652,969 | 96,659 |
5-Year U.S. Treasury Note | 9/30/2024 | 223 | 23,766,923 | 49,748 |
$(98,240) |
Counterparty | Termination Date | Notional Amount(2) | Pay Fixed Rate | Clearinghouse | Underlying Bond | Value(3) | Premiums Paid/ (Received) | Unrealized Appreciation |
Buy Protection: | ||||||||
Wells Fargo | 6/20/29 | $10,220,000 | 5.000% | ICE | Markit CDX North America High Yield Series 42 5Y Index | $(638,039) | $(701,076) | $63,037 |
(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 – 75.9% | ||||
$ 500,000 | Arizona Board of Regents, Revenue, 5.000%, 08/01/54 | $ 541,302 | ||
550,000 | Barry County, MO, COP, 5.000%, 10/01/37 | 574,832 | ||
500,000 | Beaumont , TX, Waterworks & Sewer System Revenue Ser A, 5.000%, 09/01/26 | 516,377 | ||
500,000 | Chicago O'Hare International Airport, Revenue Ser A, 5.000%, 01/01/31 | 518,442 | ||
500,000 | Chicago, IL, Wastewater Transmission Revenue Ser C, 5.000%, 01/01/26 | 503,394 | ||
450,000 | City of Erie Higher Education Building Authority, Revenue, 5.000%, 05/01/47 | 423,050 | ||
500,000 | Cleveland County Educational Fac. Auth., Revenue, 5.000%, 06/01/25 | 506,133 | ||
500,000 | Colorado Health Fac. Auth., Revenue, 5.000%, 11/01/28 | 530,513 | ||
500,000 | Colorado Health Fac. Auth., Revenue, 5.000%, 05/15/30 | 516,856 | ||
500,000 | Colorado Springs School District No 11 Fac. Corp., COP, 5.000%, 12/15/34 | 560,943 | ||
500,000 | Connecticut State Health & Educational Fac. Auth., Revenue, 5.000%, 07/01/48 | 522,520 | ||
500,000 | County of Miami-Dade FL Transit System, Revenue, 5.000%, 07/01/32 | 507,161 | ||
500,000 | County of Nez Perce, COP, 5.000%, 03/01/52 | 523,710 | ||
685,000 | DeKalb-Jackson Water Supply District Inc, Revenue Ser A, 5.000%, 07/01/32 | 741,742 | ||
500,000 | Florida Development Finance Corp., Revenue Ser A, 5.000%, 06/15/30 | 515,584 | ||
425,000 | Georgetown, TX, Utility System Revenue, 5.000%, 08/15/35 | 471,350 | ||
500,000 | Greater Jasper School Building Corp., Revenue, 5.000%, 07/15/29 | 530,688 | ||
510,000 | Greater Texas Cultural Education Fac. Finance Corp., Revenue, 5.000%, 03/01/28 | 539,048 | ||
350,000 | Guam Power Auth., Revenue Ser A, 5.000%, 10/01/26 | 357,386 | ||
500,000 | Hamilton County, OH, 5.000%, 08/15/40 | 521,105 | ||
1,000,000 | Hamilton County, OH EDR, 5.000%, 06/01/33 | 1,012,202 | ||
465,000 | Harris County Cultural Education Fac. Finance Corp., Revenue Ser A, 5.000%, 07/01/52 | 487,144 | ||
500,000 | Health Care Auth. for Baptist Health/The, Revenue Ser A, 5.000%, 11/15/32 | 541,731 | ||
500,000 | Hospitals & Higher Education Fac. Auth. of Philadelphia/The, Revenue, 5.000%, 07/01/37 | 538,429 | ||
500,000 | Illinois Finance Auth., Revenue Ser A, 5.000%, 08/15/47 | 526,686 | ||
500,000 | Indiana Finance Auth., Revenue Ser A, 5.750%, 03/01/54 | 534,911 | ||
500,000 | Iowa Higher Education Loan Auth., Revenue, 5.375%, 10/01/52 | 516,955 | ||
500,000 | Kentucky Asset Liability Commission, Revenue Ser A, 5.000%, 09/01/25 | 509,734 | ||
595,000 | Kentucky Public Energy Auth., Revenue Ser 1, 4.000%, 02/01/30 | 590,184 | ||
500,000 | Louisiana Local Government Environmental Fac. & Community Development Auth, Revenue, 5.000%, 08/15/30 | 518,425 | ||
500,000 | Louisville/Jefferson County Metropolitan Government, Revenue Ser A, 5.000%, 05/15/52 | 517,041 | ||
500,000 | Main Street Natural Gas, Inc., Revenue Ser B, 5.000%, 12/01/54 | 529,786 | ||
500,000 | Metropolitan Government Nashville & Davidson County Sports Auth., Revenue Ser A, 5.250%, 07/01/53 | 541,194 | ||
500,000 | Michigan Finance Authority, Revenue Ser C, 5.000%, 06/01/32 | 542,158 | ||
500,000 | Michigan State Building Auth., Revenue Ser I, 5.000%, 04/15/34 | 507,319 | ||
500,000 | Millard School District Local Building Auth., Revenue, 5.000%, 05/15/59 | 536,717 |
Principal Amount | Market Value | |||
Fixed Rate Revenue Bonds – 75.9% (Continued) | ||||
$ 500,000 | Missouri Joint Municipal Electric Utility Commission, Revenue, 5.000%, 12/01/36 | $ 548,319 | ||
500,000 | Monroeville Finance Auth., Revenue Ser B, 5.000%, 02/15/29 | 535,009 | ||
575,000 | Montrose Redevelopment Auth., 5.000%, 09/01/26 | 590,643 | ||
500,000 | Municipal Electric Authority of Georgia Ser A, 5.000%, 07/01/52 | 522,081 | ||
500,000 | New Hampshire Business Finance Auth., Revenue Ser A, 5.250%, 06/01/51 | 540,111 | ||
500,000 | New Jersey Economic Development Auth., Revenue EDR, 5.000%, 03/01/28 | 527,891 | ||
500,000 | New Jersey Transportation Trust Fund Authority, Revenue Ser AA, 5.000%, 06/15/45 | 528,638 | ||
500,000 | New York State Dormitory Auth., Revenue, 5.000%, 07/01/29 | 518,140 | ||
500,000 | Newark Higher Education Finance Corp., Revenue Ser A, 4.000%, 04/01/57 | 450,548 | ||
500,000 | Ohio Higher Educational Fac. Commission, 5.000%, 03/01/34 | 488,548 | ||
500,000 | Ozark Reorg School District No R-6, COP, 5.000%, 04/01/45 | 524,849 | ||
500,000 | Pasco County School Board, COP Ser B, 5.000%, 08/01/46 | 533,367 | ||
500,000 | Pennsylvania Economic Development Financing Auth., Revenue EDR Ser 2, 5.000%, 07/01/38 | 532,183 | ||
500,000 | Pennsylvania Higher Educational Fac. Auth., Revenue Ser A, 5.000%, 05/01/32 | 540,237 | ||
500,000 | Philadelphia Auth. for Industrial Development, Revenue, 5.250%, 11/01/47 | 529,200 | ||
500,000 | Polaris Career Center COP, 5.000%, 11/01/35 | 507,577 | ||
500,000 | Public Utility District No. 1 of Benton County, Revenue, 5.000%, 11/01/28 | 518,190 | ||
500,000 | Pulaski County, AR, Revenue, 5.250%, 03/01/53 | 539,979 | ||
500,000 | Regional Transportation District, Revenue Ser A, 5.000%, 01/15/29 | 526,777 | ||
500,000 | Regional Transportation District, Revenue Ser A, 5.000%, 01/15/31 | 538,745 | ||
500,000 | Rhode Island Health and Educational Building Corp., Revenue Ser A, 5.000%, 05/15/48 | 540,490 | ||
500,000 | Rock Hill , SC, Combined Utility System Revenue Ser A, 5.000%, 01/01/54 | 533,945 | ||
520,000 | South Carolina Public Service Auth., Revenue Ser A, 4.000%, 12/01/52 | 474,854 | ||
500,000 | Southwest Higher Education Auth., Inc., Revenue, 5.000%, 10/01/29 | 515,813 | ||
500,000 | St Louis , MO, Airport Revenue Ser A, 5.250%, 07/01/54 | 549,964 | ||
500,000 | St Lucie County School Board, COP Ser A, 5.000%, 07/01/48 | 532,830 | ||
510,000 | State Board of Higher Education of the State of North Dakota, Revenue Ser A, 5.000%, 04/01/29 | 530,561 | ||
500,000 | State of Illinois Sales Tax Revenue Ser B, 5.000%, 06/15/33 | 522,597 | ||
500,000 | Tobacco Settlement Financing Corp, Revenue Ser A, 5.000%, 06/01/30 | 527,017 | ||
500,000 | Town of Upland, Revenue EDR, 4.000%, 09/01/43 | 480,087 | ||
500,000 | Troy Capital Resource Corp., Revenue, 5.000%, 09/01/30 | 541,530 | ||
500,000 | Williamsburg LSD, COP, 5.250%, 12/15/53 | 531,186 | ||
500,000 | Wisconsin Health & Educational Fac. Auth., Revenue, 5.000%, 03/15/53 | 486,793 | ||
500,000 | Wisconsin Health & Educational Fac. Auth., Revenue Ser B, 5.250%, 12/01/48 | 521,847 | ||
240,000 | Yamhill County, OR, Revenue, 4.000%, 12/01/41 | 234,864 | ||
Total Fixed Rate Revenue Bonds | $37,438,162 |
Principal Amount | Market Value | |||
General Obligation Bonds – 21.1% | ||||
$ 500,000 | Bartholomew Consolidated School Corp., LTGO, 6.000%, 01/15/26 | $ 519,643 | ||
500,000 | Bexar County Hospital District, LTGO, 5.000%, 02/15/48 | 535,224 | ||
500,000 | Chicago Board of Education, UTGO Ser A, 4.000%, 12/01/47 | 438,436 | ||
500,000 | Chicago, IL, UTGO Ser A, 5.000%, 01/01/34 | 540,048 | ||
150,000 | Detroit, MI, UTGO Ser C, 6.000%, 05/01/43 | 171,240 | ||
505,000 | Ecorse Public School District, UTGO, 5.000%, 05/01/27 | 528,021 | ||
150,000 | Gold Hill Mesa Metropolitan District No 2, LTGO Ser A, 5.000%, 12/01/29 | 159,700 | ||
500,000 | Gregg County, TX, LTGO, 5.000%, 09/15/30 | 534,584 | ||
500,000 | Homewood, AL, UTGO, 5.000%, 09/01/29 | 517,426 | ||
500,000 | Hudsonville Public Schools, UTGO, 5.000%, 05/01/53 | 526,980 | ||
500,000 | Jackson, MS, UTGO, 5.000%, 03/01/28 | 510,559 | ||
610,000 | Milwaukee, WI, UTGO Ser N3, 5.000%, 04/01/29 | 654,430 | ||
500,000 | North Pine Vistas Metropolitan District No 2, LTGO, 5.250%, 12/01/42 | 547,425 | ||
450,000 | School District of Philadelphia/The, LTGO Ser B, 5.000%, 09/01/30 | 485,442 | ||
440,000 | School District of Philadelphia/The, LTGO Ser D, 5.000%, 09/01/25 | 447,098 | ||
500,000 | St Louis, MO, UTGO Ser A, 5.000%, 02/15/43 | 533,817 | ||
500,000 | State of Illinois, UTGO Ser B, 5.500%, 05/01/47 | 544,078 | ||
1,000,000 | Toledo, OH, LTGO, 4.000%, 12/01/35 | 1,024,925 | ||
500,000 | Whispering Pines Metropolitan District No 1, LTGO, 5.000%, 12/01/52 | 518,376 | ||
650,000 | Wichita Falls Independent School District, UTGO, 4.000%, 02/01/26 | 656,943 | ||
Total General Obligation Bonds | $10,394,395 |
Shares | ||||
Short-Term Investment Fund — 1.9% | ||||
923,937 | Dreyfus Government Cash Management Institutional Shares, 5.19%∞Ω | 923,937 | ||
Total Investment Securities—98.9% (Cost $49,509,668) | $48,756,494 | |||
Other Assets in Excess of Liabilities — 1.1% | $562,449 | |||
Net Assets — 100.0% | $49,318,943 |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2024. |
Portfolio Abbreviations: |
COP–Certificates of Participation |
EDR–Economic Development Revenue |
LSD–Local School District |
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 | $— | $47,832,557 | $— | $47,832,557 |
Short-Term Investment Fund | 923,937 | — | — | 923,937 |
Total | $923,937 | $47,832,557 | $— | $48,756,494 |
Shares | Market Value | |||
Common Stocks — 96.9% | ||||
Japan — 16.1% | ||||
Communication Services — 1.0% | ||||
39,400 | KDDI Corp. | $ 1,043,765 | ||
Consumer Discretionary — 5.7% | ||||
115,500 | Honda Motor Co. Ltd. | 1,241,624 | ||
163,500 | Panasonic Holdings Corp. | 1,344,052 | ||
107,300 | Sankyo Co. Ltd. | 1,166,751 | ||
88,300 | Sumitomo Rubber Industries Ltd. | 885,908 | ||
144,500 | Yamaha Motor Co. Ltd. | 1,343,388 | ||
Financials — 1.3% | ||||
138,500 | Japan Post Holdings Co. Ltd. | 1,376,652 | ||
Health Care — 1.0% | ||||
51,000 | Nippon Shinyaku Co. Ltd. | 1,031,092 | ||
Industrials — 4.7% | ||||
48,000 | Komatsu Ltd. | 1,402,058 | ||
79,500 | NGK Insulators Ltd. | 1,020,809 | ||
28,000 | NIPPON EXPRESS HOLDINGS, Inc. | 1,295,855 | ||
51,600 | Sojitz Corp. | 1,260,447 | ||
Information Technology — 2.4% | ||||
67,800 | Brother Industries Ltd. | 1,197,633 | ||
48,900 | Canon, Inc. | 1,326,542 | ||
Total Japan | 16,936,576 | |||
China — 7.5% | ||||
Consumer Discretionary — 3.0% | ||||
141,100 | Alibaba Group Holding Ltd. | 1,271,712 | ||
75,100 | JD.com, Inc. - Class A | 975,344 | ||
70,700 | Vipshop Holdings Ltd. ADR | 920,514 | ||
Energy — 1.3% | ||||
1,352,000 | PetroChina Co. Ltd. Class H | 1,365,189 | ||
Health Care — 1.1% | ||||
1,412,000 | CSPC Pharmaceutical Group Ltd. | 1,124,502 | ||
Industrials — 1.1% | ||||
646,000 | Weichai Power Co. Ltd. Class H | 1,229,895 | ||
Materials — 1.0% | ||||
517,000 | Jiangxi Copper Co. Ltd. Class H | 1,029,065 | ||
Total China | 7,916,221 | |||
France — 7.2% | ||||
Energy — 1.4% | ||||
21,800 | TotalEnergies SE | 1,459,592 | ||
Financials — 1.2% | ||||
19,900 | BNP Paribas SA | 1,272,647 | ||
Industrials — 1.2% | ||||
48,500 | Rexel SA | 1,254,625 | ||
Materials — 1.2% | ||||
34,400 | Verallia SA, 144a | 1,251,759 | ||
Real Estate — 1.3% | ||||
49,200 | Klepierre SA REIT | 1,313,539 | ||
Utilities — 0.9% | ||||
35,200 | Rubis SCA | 991,654 | ||
Total France | 7,543,816 | |||
United Kingdom — 6.1% | ||||
Consumer Staples — 3.4% | ||||
135,700 | Britvic PLC | 2,025,868 | ||
400,300 | Tesco PLC | 1,546,268 |
Shares | Market Value | |||
Common Stocks — 96.9% (Continued) | ||||
United Kingdom — (Continued) | ||||
Financials — 2.7% | ||||
207,700 | Investec PLC | $ 1,505,745 | ||
341,800 | NatWest Group PLC | 1,344,674 | ||
Total United Kingdom | 6,422,555 | |||
Taiwan — 5.6% | ||||
Information Technology — 5.6% | ||||
1,210,000 | Compal Electronics, Inc. | 1,289,864 | ||
349,000 | Hon Hai Precision Industry Co. Ltd. | 2,297,790 | ||
279,000 | Sercomm Corp. | 1,012,545 | ||
201,000 | Sino-American Silicon Products, Inc. | 1,342,578 | ||
Total Taiwan | 5,942,777 | |||
Germany — 5.2% | ||||
Consumer Discretionary — 1.2% | ||||
18,900 | Mercedes-Benz Group AG | 1,308,098 | ||
Financials — 2.7% | ||||
82,300 | Deutsche Bank AG | 1,315,365 | ||
3,100 | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 1,549,861 | ||
Industrials — 1.3% | ||||
33,900 | Daimler Truck Holding AG | 1,352,038 | ||
Total Germany | 5,525,362 | |||
India — 5.1% | ||||
Energy — 2.1% | ||||
195,500 | Coal India Ltd. | 1,107,622 | ||
285,900 | Petronet LNG Ltd. | 1,130,304 | ||
Financials — 1.1% | ||||
785,500 | Canara Bank | 1,122,864 | ||
Health Care — 1.0% | ||||
78,800 | Natco Pharma Ltd. | 1,098,179 | ||
Materials — 0.9% | ||||
334,500 | Gujarat State Fertilizers & Chemicals Ltd. | 969,160 | ||
Total India | 5,428,129 | |||
South Korea — 4.8% | ||||
Communication Services — 1.3% | ||||
35,800 | SK Telecom Co. Ltd. | 1,336,671 | ||
Consumer Discretionary — 1.3% | ||||
14,900 | Kia Corp. | 1,394,214 | ||
Financials — 1.3% | ||||
16,700 | DB Insurance Co. Ltd. | 1,383,644 | ||
Information Technology — 0.9% | ||||
15,700 | Samsung Electronics Co. Ltd. | 924,005 | ||
Total South Korea | 5,038,534 | |||
Canada — 4.6% | ||||
Energy — 1.3% | ||||
19,800 | Imperial Oil Ltd. | 1,350,056 | ||
Financials — 1.5% | ||||
59,400 | Manulife Financial Corp. | 1,581,771 | ||
Industrials — 1.0% | ||||
35,400 | Finning International, Inc. | 1,037,896 | ||
Materials — 0.8% | ||||
108,700 | Dundee Precious Metals, Inc. | 850,976 | ||
Total Canada | 4,820,699 |
Shares | Market Value | |||
Common Stocks — 96.9% (Continued) | ||||
Switzerland — 4.4% | ||||
Health Care — 4.4% | ||||
26,200 | Novartis AG | $ 2,789,558 | ||
6,700 | Roche Holding AG | 1,856,294 | ||
Total Switzerland | 4,645,852 | |||
Netherlands — 3.9% | ||||
Energy — 1.4% | ||||
41,300 | Shell PLC | 1,481,348 | ||
Financials — 2.5% | ||||
81,300 | ABN AMRO Bank NV, 144a | 1,335,245 | ||
28,500 | NN Group NV | 1,324,636 | ||
Total Netherlands | 4,141,229 | |||
Italy — 3.7% | ||||
Consumer Discretionary — 0.9% | ||||
159,900 | Pirelli & C SpA, 144a | 950,193 | ||
Financials — 1.2% | ||||
33,100 | UniCredit SpA | 1,224,899 | ||
Industrials — 0.5% | ||||
21,300 | Leonardo SpA | 493,496 | ||
Materials — 1.1% | ||||
29,400 | Buzzi SpA | 1,183,878 | ||
Total Italy | 3,852,466 | |||
Australia — 2.5% | ||||
Financials — 1.3% | ||||
72,700 | ANZ Group Holdings Ltd. | 1,365,866 | ||
Materials — 1.2% | ||||
16,200 | Rio Tinto Ltd. | 1,283,232 | ||
Total Australia | 2,649,098 | |||
Spain — 2.4% | ||||
Financials — 1.3% | ||||
306,000 | Banco Santander SA | 1,423,749 | ||
Information Technology — 1.1% | ||||
55,200 | Indra Sistemas SA | 1,133,522 | ||
Total Spain | 2,557,271 | |||
United States — 1.5% | ||||
Health Care — 1.5% | ||||
84,600 | GSK PLC | 1,627,215 | ||
Denmark — 1.4% | ||||
Financials — 1.4% | ||||
49,600 | Danske Bank A/S | 1,479,371 | ||
Sweden — 1.4% | ||||
Information Technology — 1.4% | ||||
234,400 | Telefonaktiebolaget LM Ericsson - Class B | 1,454,972 | ||
South Africa — 1.3% | ||||
Materials — 1.3% | ||||
151,900 | Harmony Gold Mining Co. Ltd. | 1,406,328 | ||
Malaysia — 1.3% | ||||
Financials — 1.3% | ||||
960,500 | CIMB Group Holdings Bhd | 1,383,846 | ||
Norway — 1.3% | ||||
Financials — 1.3% | ||||
68,300 | DNB Bank ASA | 1,341,436 |
Shares | Market Value | |||
Common Stocks — 96.9% (Continued) | ||||
Brazil — 1.2% | ||||
Materials — 1.2% | ||||
113,300 | Vale SA | $ 1,263,303 | ||
Israel — 1.2% | ||||
Information Technology — 1.2% | ||||
7,400 | Check Point Software Technologies Ltd.* | 1,221,000 | ||
Mexico — 1.1% | ||||
Consumer Staples — 1.1% | ||||
685,100 | Kimberly-Clark de Mexico SAB de CV - Class A | 1,181,465 | ||
Hong Kong — 1.1% | ||||
Health Care — 1.1% | ||||
1,082,000 | United Laboratories International Holdings Ltd. (The) | 1,141,711 | ||
Austria — 1.1% | ||||
Financials — 1.1% | ||||
24,100 | Erste Group Bank AG | 1,140,777 | ||
Indonesia — 1.1% | ||||
Utilities — 1.1% | ||||
11,771,900 | Perusahaan Gas Negara Tbk PT | 1,107,098 | ||
Belgium — 1.0% | ||||
Financials — 1.0% | ||||
23,900 | Ageas SA | 1,090,480 | ||
Greece — 1.0% | ||||
Communication Services — 1.0% | ||||
69,700 | Hellenic Telecommunications Organization SA | 1,003,232 | ||
Finland — 0.8% | ||||
Industrials — 0.8% | ||||
11,060 | Cargotec Oyj | 888,619 | ||
Total Common Stocks | $102,151,438 | |||
Short-Term Investment Fund — 1.9% | ||||
2,051,181 | Dreyfus Government Cash Management, Institutional Shares, 5.19%∞Ω | 2,051,181 | ||
Total Investment Securities — 98.8% (Cost $102,779,480) | $104,202,619 | |||
Other Assets in Excess of Liabilities — 1.2% | 1,219,727 | |||
Net Assets — 100.0% | $105,422,346 |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2024. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
PLC – Public Limited Company |
REIT – Real Estate Investment Trust |
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, 2024, these securities were valued at $3,537,197 or 3.4% 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 | ||||
Japan | $— | $16,936,576 | $— | $16,936,576 |
China | 920,514 | 6,995,707 | — | 7,916,221 |
France | — | 7,543,816 | — | 7,543,816 |
United Kingdom | 3,531,613 | 2,890,942 | — | 6,422,555 |
Taiwan | — | 5,942,777 | — | 5,942,777 |
Germany | — | 5,525,362 | — | 5,525,362 |
India | — | 5,428,129 | — | 5,428,129 |
South Korea | — | 5,038,534 | — | 5,038,534 |
Canada | 4,820,699 | — | — | 4,820,699 |
Switzerland | — | 4,645,852 | — | 4,645,852 |
Netherlands | — | 4,141,229 | — | 4,141,229 |
Italy | — | 3,852,466 | — | 3,852,466 |
Australia | — | 2,649,098 | — | 2,649,098 |
Spain | — | 2,557,271 | — | 2,557,271 |
United States | — | 1,627,215 | — | 1,627,215 |
Denmark | — | 1,479,371 | — | 1,479,371 |
Sweden | — | 1,454,972 | — | 1,454,972 |
South Africa | — | 1,406,328 | — | 1,406,328 |
Malaysia | — | 1,383,846 | — | 1,383,846 |
Norway | 1,341,436 | — | — | 1,341,436 |
Brazil | 1,263,303 | — | — | 1,263,303 |
Israel | 1,221,000 | — | — | 1,221,000 |
Mexico | 1,181,465 | — | — | 1,181,465 |
Hong Kong | 1,141,711 | — | — | 1,141,711 |
Austria | — | 1,140,777 | — | 1,140,777 |
Indonesia | 1,107,098 | — | — | 1,107,098 |
Belgium | — | 1,090,480 | — | 1,090,480 |
Greece | 1,003,232 | — | — | 1,003,232 |
Finland | — | 888,619 | — | 888,619 |
Short-Term Investment Fund | 2,051,181 | — | — | 2,051,181 |
Total | $19,583,252 | $84,619,367 | $— | $104,202,619 |
Shares | Market Value | |||
Common Stocks — 96.4% | ||||
Information Technology — 29.8% | ||||
1,192,750 | Apple, Inc. | $ 251,217,005 | ||
217,917 | International Business Machines Corp. | 37,688,745 | ||
757,177 | Microsoft Corp. | 338,420,260 | ||
683,582 | NVIDIA Corp. | 84,449,720 | ||
517,541 | Oracle Corp. | 73,076,789 | ||
273,284 | Salesforce, Inc. | 70,261,317 | ||
249,542 | Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) ADR | 43,372,895 | ||
325,115 | Texas Instruments, Inc. | 63,244,621 | ||
174,337 | Workday, Inc. - Class A* | 38,974,780 | ||
1,000,706,132 | ||||
Communication Services — 15.3% | ||||
1,167,554 | Alphabet, Inc. - Class C | 214,152,755 | ||
1,034,614 | Comcast Corp. - Class A | 40,515,484 | ||
387,355 | Meta Platforms, Inc. - Class A | 195,312,138 | ||
59,131 | Netflix, Inc.* | 39,906,329 | ||
236,159 | Walt Disney Co. (The) | 23,448,227 | ||
513,334,933 | ||||
Financials — 13.3% | ||||
1,968,763 | Bank of America Corp. | 78,297,704 | ||
285,282 | Berkshire Hathaway, Inc. - Class B* | 116,052,718 | ||
566,051 | Charles Schwab Corp. (The) | 41,712,298 | ||
168,490 | Goldman Sachs Group, Inc. (The) | 76,211,397 | ||
36,350 | Markel Group, Inc.* | 57,275,241 | ||
289,541 | Visa, Inc. - Class A | 75,995,826 | ||
445,545,184 | ||||
Health Care — 12.5% | ||||
188,446 | Becton Dickinson & Co. | 44,041,715 | ||
454,331 | BioMarin Pharmaceutical, Inc.* | 37,405,071 | ||
825,047 | Bristol-Myers Squibb Co. | 34,264,202 | ||
244,688 | HCA Healthcare, Inc. | 78,613,361 | ||
517,873 | Johnson & Johnson | 75,692,318 | ||
732,329 | Medtronic PLC | 57,641,615 | ||
179,842 | UnitedHealth Group, Inc. | 91,586,337 | ||
419,244,619 | ||||
Consumer Discretionary — 7.9% | ||||
282,318 | Airbnb, Inc. - Class A* | 42,807,878 | ||
180,099 | Alibaba Group Holding Ltd. (China) ADR | 12,967,128 | ||
955,520 | Amazon.com, Inc.* | 184,654,240 | ||
327,273 | Starbucks Corp. | 25,478,203 | ||
265,907,449 | ||||
Industrials — 7.5% | ||||
239,757 | Boeing Co. (The)* | 43,638,172 | ||
94,428 | FedEx Corp. | 28,313,292 | ||
99,781 | Hubbell, Inc. | 36,467,960 | ||
545,667 | RTX Corp. | 54,779,510 | ||
820,086 | Southwest Airlines Co. | 23,462,660 | ||
597,739 | SS&C Technologies Holdings, Inc. | 37,460,303 | ||
341,064 | Stanley Black & Decker, Inc. | 27,247,603 | ||
251,369,500 |
Shares | Market Value | |||
Common Stocks — 96.4% (Continued) | ||||
Consumer Staples — 3.9% | ||||
171,679 | Diageo PLC (United Kingdom) ADR | $ 21,645,288 | ||
992,197 | Monster Beverage Corp.* | 49,560,240 | ||
610,083 | Philip Morris International, Inc. | 61,819,711 | ||
133,025,239 | ||||
Energy — 2.6% | ||||
614,529 | Exxon Mobil Corp. | 70,744,579 | ||
365,452 | Schlumberger NV | 17,242,025 | ||
87,986,604 | ||||
Materials — 2.5% | ||||
613,323 | DuPont de Nemours, Inc. | 49,366,369 | ||
361,806 | International Flavors & Fragrances, Inc. | 34,447,549 | ||
83,813,918 | ||||
Real Estate — 1.1% | ||||
188,994 | Jones Lang LaSalle, Inc.* | 38,796,688 | ||
Total Common Stocks | $3,239,730,266 | |||
Short-Term Investment Fund — 3.6% | ||||
119,707,777 | Dreyfus Government Cash Management, Institutional Shares, 5.19%∞Ω | 119,707,777 | ||
Total Investment Securities—100.0% (Cost $1,795,795,332) | $3,359,438,043 | |||
Other Assets in Excess of Liabilities — 0.0% | 33,453 | |||
Net Assets — 100.0% | $3,359,471,496 |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2024. |
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 | $3,239,730,266 | $— | $— | $3,239,730,266 |
Short-Term Investment Fund | 119,707,777 | — | — | 119,707,777 |
Total | $3,359,438,043 | $— | $— | $3,359,438,043 |
Shares | Market Value | |||
Common Stocks — 98.8% | ||||
Financials — 27.0% | ||||
46,593 | Berkshire Hathaway, Inc. - Class B* | $ 18,954,032 | ||
15,544 | BlackRock, Inc. | 12,238,102 | ||
137,878 | Charles Schwab Corp. (The) | 10,160,230 | ||
68,112 | Fiserv, Inc.* | 10,151,413 | ||
63,682 | Progressive Corp. (The) | 13,227,388 | ||
41,605 | Visa, Inc. - Class A | 10,920,064 | ||
75,651,229 | ||||
Information Technology — 13.6% | ||||
83,155 | Apple, Inc. | 17,514,106 | ||
110,057 | Cisco Systems, Inc. | 5,228,808 | ||
37,043 | TE Connectivity Ltd. (Switzerland) | 5,572,379 | ||
50,523 | Texas Instruments, Inc. | 9,828,239 | ||
38,143,532 | ||||
Industrials — 13.0% | ||||
33,303 | FedEx Corp. | 9,985,572 | ||
50,698 | Norfolk Southern Corp. | 10,884,354 | ||
33,125 | Old Dominion Freight Line, Inc. | 5,849,875 | ||
49,404 | Republic Services, Inc. | 9,601,173 | ||
36,320,974 | ||||
Consumer Discretionary — 12.4% | ||||
58,894 | CarMax, Inc.* | 4,319,286 | ||
28,039 | Home Depot, Inc. (The) | 9,652,145 | ||
24,024 | Lowe's Cos., Inc. | 5,296,331 | ||
8,222 | O'Reilly Automotive, Inc.* | 8,682,925 | ||
86,536 | Starbucks Corp. | 6,736,828 | ||
34,687,515 | ||||
Materials — 11.0% | ||||
48,022 | Air Products & Chemicals, Inc. | 12,392,077 | ||
17,630 | Martin Marietta Materials, Inc. | 9,551,934 | ||
16,927 | NewMarket Corp. | 8,727,054 | ||
30,671,065 | ||||
Consumer Staples — 8.4% | ||||
168,616 | Altria Group, Inc. | 7,680,459 | ||
78,212 | Church & Dwight Co., Inc. | 8,109,020 | ||
76,049 | Nestle SA (Switzerland) ADR | 7,791,220 | ||
23,580,699 |
Shares | Market Value | |||
Common Stocks — 98.8% (Continued) | ||||
Communication Services — 7.5% | ||||
113,724 | Alphabet, Inc. - Class C | $ 20,859,256 | ||
Health Care — 3.2% | ||||
38,815 | Johnson & Johnson | 5,673,200 | ||
119,251 | Pfizer, Inc. | 3,336,643 | ||
9,009,843 | ||||
Energy — 2.7% | ||||
48,964 | Chevron Corp. | 7,658,949 | ||
Total Common Stocks | $276,583,062 | |||
Short-Term Investment Fund — 1.2% | ||||
3,303,289 | Dreyfus Government Cash Management, Institutional Shares, 5.19%∞Ω | 3,303,289 | ||
Total Investment Securities—100.0% (Cost $161,545,456) | $279,886,351 | |||
Liabilities in Excess of Other Assets — (0.0%) | (18,297) | |||
Net Assets — 100.0% | $279,868,054 |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2024. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $276,583,062 | $— | $— | $276,583,062 |
Short-Term Investment Fund | 3,303,289 | — | — | 3,303,289 |
Total | $279,886,351 | $— | $— | $279,886,351 |
Shares | Market Value | |||
Common Stocks — 99.8% | ||||
Information Technology — 57.8% | ||||
6,822 | Adobe, Inc.* | $ 3,789,894 | ||
25,250 | Advanced Micro Devices, Inc.* | 4,095,803 | ||
34,706 | Apple, Inc. | 7,309,778 | ||
32,888 | Arista Networks, Inc.* | 11,526,586 | ||
6,143 | ASML Holding NV (Netherlands) | 6,282,630 | ||
15,404 | Autodesk, Inc.* | 3,811,720 | ||
25,337 | Dynatrace, Inc.* | 1,133,577 | ||
24,565 | Entegris, Inc. | 3,326,101 | ||
46,898 | Fortinet, Inc.* | 2,826,542 | ||
10,089 | Intuit, Inc. | 6,630,592 | ||
41,480 | Microsoft Corp. | 18,539,486 | ||
155,971 | NVIDIA Corp. | 19,268,657 | ||
88,541,366 | ||||
Communication Services — 13.1% | ||||
70,303 | Alphabet, Inc. - Class A | 12,805,691 | ||
14,453 | Meta Platforms, Inc. - Class A | 7,287,492 | ||
20,093,183 | ||||
Financials — 8.9% | ||||
30,345 | Charles Schwab Corp. (The) | 2,236,123 | ||
28,233 | Fiserv, Inc.* | 4,207,846 | ||
5,284 | Mastercard, Inc. - Class A | 2,331,090 | ||
18,683 | Visa, Inc. - Class A | 4,903,727 | ||
13,678,786 | ||||
Consumer Discretionary — 8.5% | ||||
67,336 | Amazon.com, Inc.* | 13,012,682 | ||
Health Care — 5.5% | ||||
24,052 | Neurocrine Biosciences, Inc.* | 3,311,239 | ||
35,266 | Novo Nordisk A/S (Denmark) ADR | 5,033,869 | ||
8,345,108 | ||||
Industrials — 4.1% | ||||
8,480 | General Electric Co. | 1,348,066 | ||
9,078 | Howmet Aerospace, Inc. | 704,725 | ||
58,962 | Uber Technologies, Inc.* | 4,285,358 | ||
6,338,149 |
Shares | Market Value | |||
Common Stocks — 99.8% (Continued) | ||||
Consumer Staples — 1.9% | ||||
56,739 | Monster Beverage Corp.* | $ 2,834,113 | ||
Total Common Stocks | $152,843,387 | |||
Short-Term Investment Fund — 1.3% | ||||
1,997,894 | Dreyfus Government Cash Management, Institutional Shares, 5.19%∞Ω | 1,997,894 | ||
Total Investment Securities—101.1% (Cost $83,593,637) | $154,841,281 | |||
Liabilities in Excess of Other Assets — (1.1%) | (1,725,505) | |||
Net Assets — 100.0% | $153,115,776 |
* | Non-income producing security. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2024. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $152,843,387 | $— | $— | $152,843,387 |
Short-Term Investment Fund | 1,997,894 | — | — | 1,997,894 |
Total | $154,841,281 | $— | $— | $154,841,281 |
Shares | Market Value | |||
Common Stocks — 97.9% | ||||
Industrials — 20.6% | ||||
125,669 | Albany International Corp. - Class A | $ 10,612,747 | ||
37,004 | CACI International, Inc. - Class A* | 15,916,530 | ||
69,755 | Clean Harbors, Inc.* | 15,775,093 | ||
81,602 | Crane Co. | 11,830,658 | ||
264,039 | CSG Systems International, Inc. | 10,870,486 | ||
41,518 | Curtiss-Wright Corp. | 11,250,548 | ||
30,820 | EMCOR Group, Inc. | 11,251,766 | ||
152,356 | ESCO Technologies, Inc. | 16,003,474 | ||
552,265 | ExlService Holdings, Inc.* | 17,319,030 | ||
126,619 | Federal Signal Corp. | 10,594,212 | ||
119,948 | ITT, Inc. | 15,494,883 | ||
242,409 | KBR, Inc. | 15,548,113 | ||
239,316 | MAXIMUS, Inc. | 20,509,381 | ||
473,040 | WNS Holdings Ltd. (India) ADR* | 24,834,600 | ||
345,274 | Zurn Elkay Water Solutions Corp. | 10,151,056 | ||
217,962,577 | ||||
Information Technology — 19.7% | ||||
103,098 | Advanced Energy Industries, Inc. | 11,212,938 | ||
380,751 | Allegro MicroSystems, Inc. (Japan)* | 10,752,408 | ||
613,617 | Box, Inc. - Class A* | 16,224,033 | ||
1,796,728 | CCC Intelligent Solutions Holdings, Inc.* | 19,961,648 | ||
229,210 | Ciena Corp.* | 11,043,338 | ||
157,465 | CommVault Systems, Inc.* | 19,143,020 | ||
184,137 | Crane NXT Co. | 11,309,695 | ||
547,183 | DoubleVerify Holdings, Inc.* | 10,653,653 | ||
350,000 | LiveRamp Holdings, Inc.* | 10,829,000 | ||
69,253 | Onto Innovation, Inc.* | 15,205,189 | ||
80,500 | Qualys, Inc.* | 11,479,300 | ||
59,771 | SPS Commerce, Inc.* | 11,246,511 | ||
324,220 | Teradata Corp.* | 11,205,043 | ||
404,460 | Tower Semiconductor Ltd. (Israel)*† | 15,899,323 | ||
663,825 | Verint Systems, Inc.* | 21,375,165 | ||
207,540,264 | ||||
Health Care — 17.7% | ||||
406,772 | Astrana Health, Inc.* | 16,498,672 | ||
212,776 | Bio-Techne Corp. | 15,245,401 | ||
29,035 | Chemed Corp. | 15,753,810 | ||
389,300 | Doximity, Inc. - Class A* | 10,888,721 | ||
186,072 | Encompass Health Corp. | 15,963,117 | ||
126,487 | Ensign Group, Inc. (The) | 15,645,177 | ||
310,363 | Globus Medical, Inc. - Class A* | 21,256,762 | ||
188,270 | Haemonetics Corp.* | 15,575,577 | ||
196,764 | Merit Medical Systems, Inc.* | 16,911,866 | ||
555,509 | Option Care Health, Inc.* | 15,387,599 | ||
379,008 | Pacira BioSciences, Inc.* | 10,843,419 | ||
590,413 | Progyny, Inc.* | 16,891,716 | ||
186,861,837 | ||||
Consumer Discretionary — 14.8% | ||||
103,080 | Crocs, Inc.* | 15,043,495 | ||
438,876 | Frontdoor, Inc.* | 14,829,620 | ||
325,760 | Gentex Corp. | 10,981,370 | ||
114,995 | Grand Canyon Education, Inc.* | 16,088,950 | ||
283,609 | Malibu Boats, Inc. - Class A* | 9,937,659 | ||
100,159 | Oxford Industries, Inc. | 10,030,924 | ||
99,060 | PVH Corp. | 10,487,482 | ||
158,037 | Skyline Champion Corp.* | 10,707,007 | ||
403,890 | Steven Madden Ltd. | 17,084,547 | ||
152,045 | Stride, Inc.* | 10,719,173 |
Shares | Market Value | |||
Common Stocks — 97.9% (Continued) | ||||
Consumer Discretionary — 14.8% (Continued) | ||||
92,729 | Texas Roadhouse, Inc. | $ 15,922,497 | ||
37,953 | TopBuild Corp.* | 14,622,152 | ||
156,454,876 | ||||
Real Estate — 8.0% | ||||
271,357 | Agree Realty Corp. REIT | 16,807,853 | ||
763,030 | Apple Hospitality REIT, Inc. | 11,094,456 | ||
102,334 | Colliers International Group, Inc. (Canada)† | 11,425,591 | ||
660,269 | COPT Defense Properties REIT | 16,526,533 | ||
549,801 | Kite Realty Group Trust REIT | 12,304,547 | ||
454,439 | STAG Industrial, Inc. REIT | 16,387,070 | ||
84,546,050 | ||||
Financials — 7.8% | ||||
501,708 | Atlantic Union Bankshares Corp. | 16,481,108 | ||
58,680 | Evercore, Inc. - Class A | 12,230,672 | ||
1,197,497 | FNB Corp. | 16,381,759 | ||
675,072 | Home BancShares, Inc. | 16,174,725 | ||
137,205 | SouthState Corp. | 10,485,206 | ||
246,393 | Webster Financial Corp. | 10,740,271 | ||
82,493,741 | ||||
Materials — 3.4% | ||||
115,974 | Ashland, Inc. | 10,958,383 | ||
46,760 | Eagle Materials, Inc. | 10,168,430 | ||
353,323 | Silgan Holdings, Inc. | 14,956,162 | ||
36,082,975 | ||||
Communication Services — 3.3% | ||||
873,331 | Cargurus, Inc.* | 22,881,272 | ||
207,991 | Ziff Davis, Inc.* | 11,449,905 | ||
34,331,177 | ||||
Energy — 2.6% | ||||
309,427 | Cactus, Inc. - Class A | 16,319,180 | ||
461,610 | Oceaneering International, Inc.* | 10,921,692 | ||
27,240,872 | ||||
Total Common Stocks | $1,033,514,369 | |||
Short-Term Investment Funds — 3.6% | ||||
22,478,588 | Dreyfus Government Cash Management, Institutional Shares, 5.19%∞Ω | 22,478,588 | ||
15,468,550 | Invesco Government & Agency Portfolio, Institutional Class, 5.23%∞Ω** | 15,468,550 | ||
Total Short-Term Investment Funds | $37,947,138 | |||
Total Investment Securities—101.5% (Cost $814,546,036) | $1,071,461,507 | |||
Liabilities in Excess of Other Assets — (1.5%) | (15,395,969) | |||
Net Assets — 100.0% | $1,056,065,538 |
* | 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, 2024 was $15,339,549. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2024. |
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 | $1,033,514,369 | $— | $— | $1,033,514,369 |
Short-Term Investment Funds | 37,947,138 | — | — | 37,947,138 |
Total | $1,071,461,507 | $— | $— | $1,071,461,507 |
Shares | Market Value | |||
Common Stocks — 97.5% | ||||
Financials — 15.5% | ||||
39,471 | American Express Co. | $ 9,139,510 | ||
152,626 | American International Group, Inc. | 11,330,953 | ||
116,255 | Bank of Nova Scotia (The) (Canada)† | 5,315,179 | ||
262,426 | Fidelity National Information Services, Inc. | 19,776,423 | ||
38,604 | M&T Bank Corp. | 5,843,101 | ||
60,906 | The Allstate Corp. | 9,724,252 | ||
123,798 | US Bancorp | 4,914,781 | ||
179,234 | Wells Fargo & Co. | 10,644,707 | ||
28,261 | Willis Towers Watson PLC | 7,408,339 | ||
84,097,245 | ||||
Health Care — 12.0% | ||||
431,148 | Avantor, Inc.* | 9,140,338 | ||
30,540 | Elevance Health, Inc. | 16,548,404 | ||
105,197 | Medtronic PLC | 8,280,056 | ||
113,306 | Merck & Co., Inc. | 14,027,283 | ||
137,560 | Sanofi SA ADR | 6,674,411 | ||
20,686 | UnitedHealth Group, Inc. | 10,534,552 | ||
65,205,044 | ||||
Energy — 11.7% | ||||
401,350 | Enbridge, Inc. (Canada) | 14,284,046 | ||
129,573 | Exxon Mobil Corp. | 14,916,444 | ||
355,587 | Halliburton Co. | 12,011,729 | ||
73,280 | Hess Corp. | 10,810,266 | ||
83,720 | Phillips 66 | 11,818,752 | ||
63,841,237 | ||||
Consumer Discretionary — 11.3% | ||||
162,798 | Aptiv PLC* | 11,464,235 | ||
283,400 | Aramark | 9,641,268 | ||
436,740 | Carnival Corp.* | 8,175,773 | ||
305,831 | Las Vegas Sands Corp. | 13,533,022 | ||
40,636 | Lithia Motors, Inc. | 10,258,558 | ||
93,031 | Wynn Resorts Ltd. | 8,326,274 | ||
61,399,130 | ||||
Information Technology — 10.9% | ||||
10,532 | Broadcom, Inc. | 16,909,442 | ||
95,376 | Cognizant Technology Solutions Corp. - Class A | 6,485,568 | ||
84,313 | Oracle Corp. | 11,904,996 | ||
97,776 | QUALCOMM, Inc. | 19,475,024 | ||
45,075 | Skyworks Solutions, Inc. | 4,804,093 | ||
59,579,123 | ||||
Industrials — 9.4% | ||||
50,483 | AECOM | 4,449,572 | ||
72,330 | Jacobs Solutions, Inc. | 10,105,224 | ||
55,346 | JB Hunt Transport Services, Inc. | 8,855,360 | ||
113,047 | Johnson Controls International PLC | 7,514,234 | ||
65,165 | Stanley Black & Decker, Inc. | 5,206,032 | ||
174,508 | Vertiv Holdings Co. - Class A | 15,107,158 | ||
51,237,580 | ||||
Materials — 8.2% | ||||
68,724 | Air Products & Chemicals, Inc. | 17,734,228 | ||
304,225 | Axalta Coating Systems Ltd.* | 10,395,368 | ||
159,161 | CRH PLC | 11,933,892 | ||
57,528 | DuPont de Nemours, Inc. | 4,630,429 | ||
44,693,917 |
Shares | Market Value | |||
Common Stocks — 97.5% (Continued) | ||||
Communication Services — 6.0% | ||||
60,007 | Alphabet, Inc. - Class A | $ 10,930,275 | ||
366,850 | Comcast Corp. - Class A | 14,365,846 | ||
53,060 | Electronic Arts, Inc. | 7,392,850 | ||
32,688,971 | ||||
Utilities — 4.7% | ||||
153,596 | Entergy Corp. | 16,434,772 | ||
122,634 | Pinnacle West Capital Corp. | 9,366,785 | ||
25,801,557 | ||||
Consumer Staples — 4.4% | ||||
261,058 | Keurig Dr Pepper, Inc. | 8,719,337 | ||
148,596 | Philip Morris International, Inc. | 15,057,233 | ||
23,776,570 | ||||
Real Estate — 3.4% | ||||
31,887 | Public Storage REIT | 9,172,296 | ||
324,371 | VICI Properties, Inc. REIT | 9,289,985 | ||
18,462,281 | ||||
Total Common Stocks | $530,782,655 | |||
Short-Term Investment Funds — 3.4% | ||||
13,398,857 | Dreyfus Government Cash Management, Institutional Shares, 5.19%∞Ω | 13,398,857 | ||
5,347,500 | Invesco Government & Agency Portfolio, Institutional Class, 5.23%∞Ω** | 5,347,500 | ||
Total Short-Term Investment Funds | $18,746,357 | |||
Total Investment Securities—100.9% (Cost $418,185,165) | $549,529,012 | |||
Liabilities in Excess of Other Assets — (0.9%) | (4,984,684) | |||
Net Assets — 100.0% | $544,544,328 |
* | 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, 2024 was $5,257,800. |
∞ | Open-End Fund. |
Ω | Represents the 7-Day SEC yield as of June 30, 2024. |
Portfolio Abbreviations: |
ADR – American Depositary Receipt |
PLC – Public Limited Company |
REIT – Real Estate Investment Trust |
Valuation Inputs at Reporting Date: | ||||
Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $530,782,655 | $— | $— | $530,782,655 |
Short-Term Investment Funds | 18,746,357 | — | — | 18,746,357 |
Total | $549,529,012 | $— | $— | $549,529,012 |
Touchstone Balanced Fund | Touchstone Core Municipal Bond Fund | Touchstone International Value Fund | Touchstone Large Cap Focused Fund | Touchstone Large Cap Fund | Touchstone Large Company Growth Fund | |
Assets | ||||||
Investments, at cost | $686,436,170 | $49,509,668 | $102,779,480 | $1,795,795,332 | $161,545,456 | $83,593,637 |
Investments, at market value * | $913,301,543 | $48,756,494 | $104,202,619 | $3,359,438,043 | $279,886,351 | $154,841,281 |
Cash | — | — | — | — | 1,375 | — |
Cash deposits held at prime broker (A) | 1,650,408 | — | — | — | — | — |
Foreign currency † | 1,035 | — | 593,513 | — | — | — |
Dividends and interest receivable | 3,328,648 | 641,354 | 734,515 | 2,396,644 | 269,051 | — |
Receivable for capital shares sold | 733,238 | 5,080 | 18,913 | 1,419,818 | 701 | 252,627 |
Receivable for investments sold | 449,650 | — | — | 914,965 | — | — |
Receivable for variation margin on futures contracts | 145,553 | — | — | — | — | — |
Receivable for securities lending income | 2,413 | — | — | 4,051 | — | — |
Tax reclaim receivable | 3,757 | — | 90,064 | 165,268 | — | — |
Other assets | 4,961 | 321 | 17,175 | 17,662 | 29,193 | 3,569 |
Total Assets | 919,621,206 | 49,403,249 | 105,656,799 | 3,364,356,451 | 280,186,671 | 155,097,477 |
Liabilities | ||||||
Due to custodian | 29,757 | — | 172 | 161,490 | — | — |
Dividends payable | 193 | 9,686 | 776 | — | — | — |
Payable for return of collateral for securities on loan | — | — | — | — | — | — |
Deferred foreign capital gains tax | — | — | 8,228 | — | — | — |
Payable for capital shares redeemed | 645,928 | 19,573 | 70,134 | 1,959,129 | 92,115 | 1,857,716 |
Payable for investments purchased | 691,275 | — | — | — | — | — |
Payable to Investment Adviser | 360,429 | 4 | 48,005 | 1,354,942 | 113,978 | 55,197 |
Payable to other affiliates | 278,428 | 7,390 | 8,399 | 835,947 | 31,253 | 17,038 |
Payable to Trustees | 8,118 | 8,118 | 8,119 | 8,118 | 8,118 | 8,118 |
Payable for professional services | 34,288 | 25,891 | 43,610 | 46,108 | 24,122 | 23,091 |
Payable for reports to shareholders | 24,282 | 8,203 | 7,194 | 46,341 | 12,564 | 8,378 |
Payable for transfer agent services | 136,921 | 3,138 | 29,392 | 381,606 | 31,377 | 8,324 |
Payable for variation margin on swap agreements | 638,039 | — | — | — | — | — |
Other accrued expenses and liabilities | 22,227 | 2,303 | 10,424 | 91,274 | 5,090 | 3,839 |
Total Liabilities | 2,869,885 | 84,306 | 234,453 | 4,884,955 | 318,617 | 1,981,701 |
Net Assets | $916,751,321 | $49,318,943 | $105,422,346 | $3,359,471,496 | $279,868,054 | $153,115,776 |
Net assets consist of: | ||||||
Paid-in capital | 696,585,879 | 51,861,918 | 162,000,763 | 1,771,754,629 | 158,159,870 | 79,335,629 |
Distributable earnings (deficit) | 220,165,442 | (2,542,975) | (56,578,417) | 1,587,716,867 | 121,708,184 | 73,780,147 |
Net Assets | $916,751,321 | $49,318,943 | $105,422,346 | $3,359,471,496 | $279,868,054 | $153,115,776 |
*Includes market value of securities on loan of: | $— | $— | $— | $— | $— | $— |
†Cost of foreign currency: | $1,085 | $— | $593,690 | $— | $— | $— |
(A) | Represents segregated cash for futures contracts and swap agreements. |
Touchstone Small Company Fund | Touchstone Value Fund |
$814,546,036 | $418,185,165 |
$1,071,461,507 | $549,529,012 |
3 | — |
— | — |
1,371 | — |
541,220 | 784,025 |
1,587,260 | 252,144 |
— | — |
— | — |
2,345 | 1,493 |
1,315 | — |
5,454 | 5,784 |
1,073,600,475 | 550,572,458 |
— | 55,642 |
— | — |
15,468,550 | 5,347,500 |
— | — |
1,062,606 | 173,943 |
— | — |
537,683 | 240,077 |
237,476 | 94,488 |
8,119 | 8,118 |
29,631 | 26,384 |
31,460 | 17,844 |
147,516 | 63,944 |
— | — |
11,896 | 190 |
17,534,937 | 6,028,130 |
$1,056,065,538 | $544,544,328 |
780,016,793 | 394,385,568 |
276,048,745 | 150,158,760 |
$1,056,065,538 | $544,544,328 |
$15,339,549 | $5,257,800 |
$1,467 | $— |
Touchstone Balanced Fund | Touchstone Core Municipal Bond Fund | Touchstone International Value Fund | Touchstone Large Cap Focused Fund | Touchstone Large Cap Fund | Touchstone Large Company Growth Fund | |
Pricing of Class A Shares | ||||||
Net assets applicable to Class A shares | $579,512,933 | $22,230,578 | $78,145,064 | $2,084,764,230 | $6,463,717 | $5,337,179 |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | 21,684,918 | 2,061,946 | 4,999,223 | 31,602,949 | 350,228 | 96,401 |
Net asset value price per share* | $26.72 | $10.78 | $15.63 | $65.97 | $18.46 | $55.36 |
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 | $28.13 | $11.14 | $16.45 | $69.44 | $19.43 | $58.27 |
Pricing of Class C Shares | ||||||
Net assets applicable to Class C shares | $72,104,324 | $690,202 | $1,797,313 | $51,919,262 | $1,353,010 | $216,363 |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | 2,693,557 | 64,083 | 126,265 | 880,537 | 75,022 | 4,254 |
Net asset value and offering price per share** | $26.77 | $10.77 | $14.23 | $58.96 | $18.03 | $50.86 |
Pricing of Class Y Shares | ||||||
Net assets applicable to Class Y shares | $265,024,354 | $3,014,773 | $25,049,323 | $881,915,941 | $207,867,919 | $10,198,747 |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | 10,014,011 | 278,697 | 1,622,272 | 13,369,235 | 11,247,788 | 179,248 |
Net asset value, offering price and redemption price per share | $26.47 | $10.82 | $15.44 | $65.97 | $18.48 | $56.90 |
Pricing of Institutional Class Shares | ||||||
Net assets applicable to Institutional Class shares | $— | $23,383,390 | $430,646 | $274,623,777 | $64,183,408 | $137,363,487 |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | — | 2,165,173 | 27,937 | 4,154,468 | 3,469,771 | 2,387,150 |
Net asset value, offering price and redemption price per share | $— | $10.80 | $15.41 | $66.10 | $18.50 | $57.54 |
Pricing of Class R6 Shares | ||||||
Net assets applicable to Class R6 shares | $109,710 | $— | $— | $66,248,286 | $— | $— |
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value) | 4,148 | — | — | 1,001,207 | — | — |
Net asset value, offering price and redemption price per share | $26.45 | $— | $— | $66.17 | $— | $— |
* | 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 Small Company Fund | Touchstone Value Fund |
$500,583,720 | $163,754,063 |
86,636,845 | 13,985,777 |
$5.78 | $11.71 |
5.00% | 5.00% |
$6.08 | $12.33 |
$14,146,436 | $2,918,844 |
2,493,071 | 250,103 |
$5.67 | $11.67 |
$429,455,408 | $96,905,083 |
64,366,903 | 8,229,838 |
$6.67 | $11.77 |
$30,778,636 | $250,462,605 |
4,602,708 | 21,355,860 |
$6.69 | $11.73 |
$81,101,338 | $30,503,733 |
13,290,592 | 2,599,272 |
$6.10 | $11.74 |
Touchstone Balanced Fund | Touchstone Core Municipal Bond Fund | Touchstone International Value Fund | Touchstone Large Cap Focused Fund | Touchstone Large Cap Fund | Touchstone Large Company Growth Fund | |
Investment Income | ||||||
Dividends* | $8,390,360 | $65,903 | $3,104,737 | $46,635,449 | $4,650,570 | $571,796 |
Interest | 12,822,348 | 1,744,844 | — | 85,086 | — | — |
Income from securities loaned | 40,629 | — | 324 | 200,399 | 15,967 | — |
Total Investment Income | 21,253,337 | 1,810,747 | 3,105,061 | 46,920,934 | 4,666,537 | 571,796 |
Expenses | ||||||
Investment advisory fees | 4,164,476 | 203,835 | 780,451 | 16,065,472 | 1,643,493 | 814,375 |
Administration fees | 1,171,342 | 69,551 | 152,126 | 4,233,336 | 373,689 | 185,098 |
Compliance fees and expenses | 4,210 | 4,210 | 4,210 | 4,210 | 4,210 | 4,210 |
Custody fees | 50,589 | 3,761 | 19,627 | 26,968 | 9,423 | 9,070 |
Professional fees | 56,871 | 34,821 | 67,636 | 110,433 | 30,653 | 26,614 |
Transfer Agent fees, Class A | 453,341 | 10,134 | 106,708 | 1,192,852 | 3,708 | 3,559 |
Transfer Agent fees, Class C | 53,956 | 601 | 4,007 | 44,461 | 780 | 226 |
Transfer Agent fees, Class Y | 233,861 | 3,061 | 30,794 | 708,710 | 146,019 | 7,005 |
Transfer Agent fees, Institutional Class | — | 1,274 | 203 | 71,437 | 3,983 | 38,346 |
Transfer Agent fees, Class R6 | 18 | — | — | 349 | — | — |
Registration fees, Class A | 24,896 | 8,258 | 21,625 | 40,143 | 12,683 | 11,303 |
Registration fees, Class C | 16,499 | 9,996 | 10,048 | 15,429 | 7,297 | 6,448 |
Registration fees, Class Y | 28,407 | 5,596 | 15,808 | 75,221 | 21,448 | 10,004 |
Registration fees, Institutional Class | — | 3,769 | 7,019 | 16,149 | 11,128 | 20,284 |
Registration fees, Class R6 | 3,440 | — | — | 11,899 | — | — |
Reports to Shareholders, Class A | 38,138 | 3,674 | 14,798 | 61,604 | 3,294 | 3,218 |
Reports to Shareholders, Class C | 6,444 | 2,944 | 2,943 | 5,840 | 2,985 | 2,951 |
Reports to Shareholders, Class Y | 16,216 | 3,064 | 6,724 | 48,914 | 15,906 | 3,197 |
Reports to Shareholders, Institutional Class | — | 2,970 | 3,918 | 7,459 | 2,728 | 3,599 |
Reports to Shareholders, Class R6 | 2,939 | — | — | 4,385 | — | — |
Distribution expenses, Class A | 1,379,922 | 55,574 | 198,915 | 4,902,749 | 14,524 | 10,341 |
Distribution and shareholder servicing expenses, Class C | 727,029 | 9,131 | 21,176 | 505,331 | 16,747 | 2,098 |
Trustee fees | 30,560 | 30,560 | 30,560 | 30,560 | 30,560 | 30,560 |
Other expenses | 213,161 | 31,458 | 104,210 | 686,439 | 103,539 | 71,762 |
Total Expenses | 8,676,315 | 498,242 | 1,603,506 | 28,870,350 | 2,458,797 | 1,264,268 |
Fees waived and/or reimbursed by the Adviser and/or Affiliates(A) | (6,420) | (170,772) | (205,874) | (540,598) | (331,344) | (259,065) |
Net Expenses | 8,669,895 | 327,470 | 1,397,632 | 28,329,752 | 2,127,453 | 1,005,203 |
Net Investment Income (Loss) | 12,583,442 | 1,483,277 | 1,707,429 | 18,591,182 | 2,539,084 | (433,407) |
Realized and Unrealized Gains (Losses) on Investments | ||||||
Net realized gains (losses) on investments(B) | 1,371,990 | (530,177) | 15,087,908 | 109,359,169 | 9,158,148 | 18,793,746 |
Net realized losses on futures contracts | (848,841) | — | — | — | — | — |
Net realized losses on swap agreements | (1,051,259) | — | — | — | — | — |
Net realized gains (losses) on foreign currency transactions | — | — | (58,534) | — | — | — |
Net change in unrealized appreciation (depreciation) on investments† | 88,004,391 | 781,330 | (12,734,573) | 393,563,765 | 12,727,366 | 29,377,410 |
Net change in unrealized appreciation (depreciation) on futures contracts | 839,330 | — | — | — | — | — |
Net change in unrealized appreciation (depreciation) on swap agreements | 213,237 | — | — | — | — | — |
Net change in unrealized appreciation (depreciation) on foreign currency transactions | (35) | — | 5,898 | — | — | — |
Net Realized and Unrealized Gains (Losses) on Investments | 88,528,813 | 251,153 | 2,300,699 | 502,922,934 | 21,885,514 | 48,171,156 |
Change in Net Assets Resulting from Operations | $101,112,255 | $1,734,430 | $4,008,128 | $521,514,116 | $24,424,598 | $47,737,749 |
*Net of foreign tax withholding of: | $8,359 | $— | $351,765 | $48,050 | $74,583 | $6,683 |
†Includes increase in deferred foreign capital gains tax of: | $— | $— | $8,228 | $— | $— | $— |
(A) | See Note 4 in Notes to Financial Statements. |
(B) | Net realized gains on investments includes the realized gains of $84,045,416, $6,135,538, $12,123,341 and $10,274,322 for the Large Cap Focused Fund, the Large Cap Fund, the Large Company Growth Fund and the Small Company Fund, respectively, for redemption-in-kind activity, which will not be recognized by the Fund for tax purposes. |
Touchstone Small Company Fund | Touchstone Value Fund |
$11,322,122 | $12,155,885 |
— | — |
3,312 | 38,687 |
11,325,434 | 12,194,572 |
6,427,572 | 3,019,882 |
1,316,422 | 699,301 |
4,210 | 4,210 |
18,275 | 11,616 |
50,575 | 37,783 |
380,451 | 151,225 |
15,408 | 2,786 |
364,546 | 80,091 |
10,368 | 84,957 |
234 | 43 |
22,902 | 14,981 |
12,746 | 7,647 |
26,872 | 14,777 |
12,048 | 17,567 |
13,610 | 5,022 |
28,801 | 16,025 |
4,000 | 2,950 |
38,891 | 7,947 |
4,206 | 10,027 |
7,345 | 3,865 |
1,217,039 | 394,818 |
147,922 | 33,616 |
30,560 | 30,560 |
212,715 | 101,082 |
10,367,718 | 4,752,778 |
(306,868) | (475,780) |
10,060,850 | 4,276,998 |
1,264,584 | 7,917,574 |
41,310,327 | 22,759,019 |
— | — |
— | — |
— | 1,612 |
72,136,023 | 49,629,747 |
— | — |
— | — |
(44) | — |
113,446,306 | 72,390,378 |
$114,710,890 | $80,307,952 |
$5,589 | $169,046 |
$— | $— |
Touchstone Balanced Fund | Touchstone Core Municipal Bond Fund | Touchstone International Value Fund | ||||
For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 | |
From Operations | ||||||
Net investment income (loss) | $12,583,442 | $9,245,459 | $1,483,277 | $1,325,291 | $1,707,429 | $1,907,688 |
Net realized gains (losses) on investments, futures contracts, swap agreements and foreign currency transactions | (528,110) | 11,195,890 | (530,177) | (1,223,464) | 15,029,374 | (5,214,908) |
Net change in unrealized appreciation (depreciation) on investments, futures contracts, swap agreements and foreign currency transactions | 89,056,923 | 78,098,021 | 781,330 | 1,149,277 | (12,728,675) | 19,725,598 |
Change in Net Assets from Operations | 101,112,255 | 98,539,370 | 1,734,430 | 1,251,104 | 4,008,128 | 16,418,378 |
Distributions to Shareholders: | ||||||
Distributed earnings, Class A | (7,655,925) | (6,454,185) | (612,050) | (542,624) | (1,107,769) | (1,163,208) |
Distributed earnings, Class C | (442,911) | (335,681) | (18,263) | (16,568) | (20,132) | (28,135) |
Distributed earnings, Class Y | (3,910,645) | (2,487,696) | (84,123) | (70,470) | (481,196) | (337,719) |
Distributed earnings, Institutional Class | — | — | (768,851) | (695,629) | (72,826) | (60,528) |
Distributed earnings, Class R6 | (1,811) | (1,917) | — | — | — | — |
Total Distributions | (12,011,292) | (9,279,479) | (1,483,287) | (1,325,291) | (1,681,923) | (1,589,590) |
Change in Net Assets from Share Transactions(A) | 14,490,546 | (27,209,173) | (4,017,832) | (5,317,958) | (11,081,155) | (3,423,275) |
Total Increase (Decrease) in Net Assets | 103,591,509 | 62,050,718 | (3,766,689) | (5,392,145) | (8,754,950) | 11,405,513 |
Net Assets | ||||||
Beginning of period | 813,159,812 | 751,109,094 | 53,085,632 | 58,477,777 | 114,177,296 | 102,771,783 |
End of period | $916,751,321 | $813,159,812 | $49,318,943 | $53,085,632 | $105,422,346 | $114,177,296 |
(A) | For details on share transactions by class, see Statements of Changes in Net Assets - Capital Stock Activity. |
Touchstone Large Cap Focused Fund | Touchstone Large Cap Fund | Touchstone Large Company Growth Fund | Touchstone Small Company Fund | ||||
For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 |
$18,591,182 | $13,019,424 | $2,539,084 | $2,737,817 | $(433,407) | $(197,653) | $1,264,584 | $964,570 |
109,359,169 | 65,283,919 | 9,158,148 | 16,518,022 | 18,793,746 | 18,355,445 | 41,310,327 | 12,898,080 |
393,563,765 | 441,075,223 | 12,727,366 | 22,459,658 | 29,377,410 | 6,189,120 | 72,135,979 | 108,411,403 |
521,514,116 | 519,378,566 | 24,424,598 | 41,715,497 | 47,737,749 | 24,346,912 | 114,710,890 | 122,274,053 |
(12,772,081) | (26,722,797) | (95,374) | (186,418) | (160,700) | (115,696) | (771,772) | (11,830,362) |
(49,032) | (723,298) | (6,280) | (83,859) | (9,647) | (7,968) | (23,753) | (432,280) |
(7,364,752) | (8,798,604) | (3,712,247) | (7,705,511) | (325,622) | (256,507) | (494,033) | (5,543,536) |
(2,370,622) | (3,775,076) | (1,172,880) | (2,900,891) | (4,710,574) | (4,584,366) | (37,674) | (507,462) |
(305,881) | (32,814) | — | — | — | — | (103,235) | (1,463,928) |
(22,862,368) | (40,052,589) | (4,986,781) | (10,876,679) | (5,206,543) | (4,964,537) | (1,430,467) | (19,777,568) |
(74,902,210) | (41,778,980) | (13,419,255) | (35,086,898) | (35,938,927) | (35,711,782) | 39,368,266 | 35,514,933 |
423,749,538 | 437,546,997 | 6,018,562 | (4,248,080) | 6,592,279 | (16,329,407) | 152,648,689 | 138,011,418 |
2,935,721,958 | 2,498,174,961 | 273,849,492 | 278,097,572 | 146,523,497 | 162,852,904 | 903,416,849 | 765,405,431 |
$3,359,471,496 | $2,935,721,958 | $279,868,054 | $273,849,492 | $153,115,776 | $146,523,497 | $1,056,065,538 | $903,416,849 |
Touchstone Value Fund | ||
For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 | |
From Operations | ||
Net investment income | $7,917,574 | $8,104,704 |
Net realized gains on investments and foreign currency transactions | 22,760,631 | 13,745,820 |
Net change in unrealized appreciation on investments | 49,629,747 | 32,140,986 |
Change in Net Assets from Operations | 80,307,952 | 53,991,510 |
Distributions to Shareholders: | ||
Distributed earnings, Class A | (3,370,015) | (11,303,139) |
Distributed earnings, Class C | (46,658) | (340,918) |
Distributed earnings, Class Y | (2,126,316) | (7,487,618) |
Distributed earnings, Institutional Class | (5,875,414) | (16,911,807) |
Distributed earnings, Class R6 | (710,922) | (1,655,788) |
Total Distributions | (12,129,325) | (37,699,270) |
Change in Net Assets from Share Transactions(A) | (20,052,324) | (21,834,052) |
Total Increase (Decrease) in Net Assets | 48,126,303 | (5,541,812) |
Net Assets | ||
Beginning of period | 496,418,025 | 501,959,837 |
End of period | $544,544,328 | $496,418,025 |
(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, 2024 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 | |||||
Shares | Dollars | Shares | Dollars | Shares | Dollars | Shares | Dollars | |
Class A | ||||||||
Proceeds from Shares issued | 1,630,348 | $40,651,293 | 1,305,841 | $29,334,546 | 44,735 | $478,238 | 70,723 | $752,997 |
Reinvestment of distributions | 285,889 | 7,248,875 | 275,113 | 6,106,121 | 47,173 | 503,359 | 41,801 | 445,970 |
Cost of Shares redeemed | (2,675,799) | (66,982,143) | (3,438,251) | (76,723,283) | (171,817) | (1,824,135) | (311,187) | (3,298,640) |
Change from Class A Share Transactions | (759,562) | (19,081,975) | (1,857,297) | (41,282,616) | (79,909) | (842,538) | (198,663) | (2,099,673) |
Class C | ||||||||
Proceeds from Shares issued | 486,712 | 12,019,784 | 362,864 | 8,171,723 | 21,220 | 220,449 | 82,084 | 880,091 |
Reinvestment of distributions | 17,249 | 437,404 | 14,847 | 331,979 | 1,707 | 18,213 | 1,545 | 16,496 |
Cost of Shares redeemed | (865,883) | (21,630,246) | (758,402) | (16,854,147) | (54,656) | (583,986) | (75,695) | (802,420) |
Change from Class C Share Transactions | (361,922) | (9,173,058) | (380,691) | (8,350,445) | (31,729) | (345,324) | 7,934 | 94,167 |
Class Y | ||||||||
Proceeds from Shares issued | 3,778,756 | 92,702,752 | 4,328,959 | 97,132,692 | 153,692 | 1,651,123 | 236,499 | 2,487,537 |
Reinvestment of distributions | 155,059 | 3,903,732 | 112,185 | 2,474,987 | 7,207 | 77,156 | 5,448 | 58,169 |
Cost of Shares redeemed | (2,167,949) | (53,832,716) | (3,485,175) | (77,185,708) | (127,493) | (1,372,552) | (251,774) | (2,631,261) |
Change from Class Y Share Transactions | 1,765,866 | 42,773,768 | 955,969 | 22,421,971 | 33,406 | 355,727 | (9,827) | (85,555) |
Institutional Class | ||||||||
Proceeds from Shares issued | — | — | — | — | 3,090 | 32,690 | 11,520 | 123,810 |
Reinvestment of distributions | — | — | — | — | 71,966 | 768,842 | 65,116 | 695,613 |
Cost of Shares redeemed | — | — | — | — | (369,948) | (3,987,229) | (382,513) | (4,046,320) |
Change from Institutional Class Share Transactions | — | — | — | — | (294,892) | (3,185,697) | (305,877) | (3,226,897) |
Class R6 | ||||||||
Proceeds from Shares issued | — | — | — | — | — | — | — | — |
Reinvestment of distributions | 72 | 1,811 | 87 | 1,917 | — | — | — | — |
Cost of Shares redeemed | (1,259) | (30,000) | — | — | — | — | — | — |
Change from Class R6 Share Transactions | (1,187) | (28,189) | 87 | 1,917 | — | — | — | — |
Change from Share Transactions | 643,195 | $14,490,546 | (1,281,932) | $(27,209,173) | (373,124) | $(4,017,832) | (506,433) | $(5,317,958) |
Touchstone International Value Fund | Touchstone Large Cap Focused Fund | ||||||
For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 | ||||
Shares | Dollars | Shares | Dollars | Shares | Dollars | Shares | Dollars |
222,688 | $3,421,364 | 207,040 | $2,956,760 | 959,151 | $56,976,265 | 871,623 | $44,199,684 |
66,321 | 1,049,853 | 81,517 | 1,103,741 | 198,433 | 11,761,830 | 512,576 | 24,803,337 |
(688,264) | (10,591,785) | (656,145) | (9,128,332) | (3,759,887) | (224,823,408) | (3,979,920) | (200,436,477) |
(399,255) | (6,120,568) | (367,588) | (5,067,831) | (2,602,303) | (156,085,313) | (2,595,721) | (131,433,456) |
7,536 | 104,341 | 22,995 | 306,225 | 184,201 | 9,575,579 | 142,815 | 6,440,237 |
1,376 | 19,894 | 2,171 | 26,900 | 928 | 48,816 | 16,420 | 716,415 |
(49,165) | (689,437) | (55,527) | (706,451) | (303,353) | (16,022,142) | (312,804) | (14,085,002) |
(40,253) | (565,202) | (30,361) | (373,326) | (118,224) | (6,397,747) | (153,569) | (6,928,350) |
318,224 | 4,786,758 | 420,549 | 6,158,939 | 5,225,833 | 306,946,790 | 4,389,105 | 223,429,518 |
30,392 | 474,424 | 25,019 | 333,999 | 118,534 | 7,020,176 | 171,659 | 8,278,156 |
(399,791) | (6,133,226) | (329,954) | (4,520,062) | (3,872,951) | (234,200,464) | (3,137,778) | (158,474,364) |
(51,175) | (872,044) | 115,614 | 1,972,876 | 1,471,416 | 79,766,502 | 1,422,986 | 73,233,310 |
68,212 | 1,005,003 | 1,744 | 25,692 | 3,794,448 | 230,455,953 | 3,889,420 | 194,308,524 |
4,678 | 72,826 | 4,544 | 60,529 | 27,449 | 1,628,984 | 55,100 | 2,661,762 |
(298,441) | (4,601,170) | (2,907) | (41,215) | (4,366,399) | (263,599,619) | (3,851,324) | (192,969,218) |
(225,551) | (3,523,341) | 3,381 | 45,006 | (544,502) | (31,514,682) | 93,196 | 4,001,068 |
— | — | — | — | 693,744 | 43,050,865 | 359,726 | 19,738,096 |
— | — | — | — | 5,120 | 304,038 | 622 | 30,031 |
— | — | — | — | (66,730) | (4,025,873) | (8,283) | (419,679) |
— | — | — | — | 632,134 | 39,329,030 | 352,065 | 19,348,448 |
(716,234) | $(11,081,155) | (278,954) | $(3,423,275) | (1,161,479) | $(74,902,210) | (881,043) | $(41,778,980) |
Touchstone Large Cap Fund | Touchstone Large Company Growth Fund | |||||||
For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 | |||||
Shares | Dollars | Shares | Dollars | Shares | Dollars | Shares | Dollars | |
Class A | ||||||||
Proceeds from Shares issued | 85,298 | $1,494,908 | 55,034 | $878,440 | 23,075 | $1,082,748 | 13,612 | $522,431 |
Reinvestment of distributions | 4,898 | 85,774 | 10,508 | 165,562 | 3,688 | 160,700 | 3,229 | 115,695 |
Cost of Shares redeemed | (45,676) | (799,721) | (52,916) | (846,101) | (21,183) | (922,930) | (16,998) | (637,756) |
Change from Class A Share Transactions | 44,520 | 780,961 | 12,626 | 197,901 | 5,580 | 320,518 | (157) | 370 |
Class C | ||||||||
Proceeds from Shares issued | 2,232 | 37,821 | 20,444 | 313,352 | 2,522 | 108,287 | 881 | 33,004 |
Reinvestment of distributions | 366 | 6,222 | 5,393 | 82,939 | 187 | 7,502 | 238 | 7,965 |
Cost of Shares redeemed | (49,252) | (839,102) | (102,895) | (1,624,789) | (4,334) | (176,071) | (1,312) | (44,741) |
Change from Class C Share Transactions | (46,654) | (795,059) | (77,058) | (1,228,498) | (1,625) | (60,282) | (193) | (3,772) |
Class Y | ||||||||
Proceeds from Shares issued | 126,493 | 2,227,695 | 194,223 | 3,125,993 | 23,515 | 1,108,228 | 12,260 | 469,925 |
Reinvestment of distributions | 205,919 | 3,607,496 | 475,857 | 7,505,606 | 7,280 | 325,622 | 7,001 | 256,507 |
Cost of Shares redeemed | (1,061,397) | (18,735,885) | (1,856,213) | (30,327,891) | (25,226) | (1,207,506) | (222,625) | (8,399,800) |
Change from Class Y Share Transactions | (728,985) | (12,900,694) | (1,186,133) | (19,696,292) | 5,569 | 226,344 | (203,364) | (7,673,368) |
Institutional Class | ||||||||
Proceeds from Shares issued | 868,656 | 15,363,823 | 2,513,064 | 40,723,228 | 865,302 | 39,789,725 | 1,267,769 | 48,971,378 |
Reinvestment of distributions | 64,508 | 1,130,314 | 153,334 | 2,420,443 | 93,729 | 4,237,475 | 115,186 | 4,259,572 |
Cost of Shares redeemed | (964,649) | (16,998,600) | (3,548,886) | (57,503,680) | (1,774,771) | (80,452,707) | (2,087,146) | (81,265,962) |
Change from Institutional Class Share Transactions | (31,485) | (504,463) | (882,488) | (14,360,009) | (815,740) | (36,425,507) | (704,191) | (28,035,012) |
Class R6 | ||||||||
Proceeds from Shares issued | — | — | — | — | — | — | — | — |
Reinvestment of distributions | — | — | — | — | — | — | — | — |
Cost of Shares redeemed | — | — | — | — | — | — | — | — |
Change from Class R6 Share Transactions | — | — | — | — | — | — | — | — |
Change from Share Transactions | (762,604) | $(13,419,255) | (2,133,053) | $(35,086,898) | (806,216) | $(35,938,927) | (907,905) | $(35,711,782) |
^ | The June 30, 2023 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. |
Touchstone Small Company Fund^ | Touchstone Value Fund | ||||||
For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 | For the Year Ended June 30, 2024 | For the Year Ended June 30, 2023 | ||||
Shares | Dollars | Shares | Dollars | Shares | Dollars | Shares | Dollars |
4,138,747 | $22,612,271 | 3,891,138 | $19,216,133 | 254,866 | $2,825,643 | 676,587 | $6,874,794 |
137,843 | 747,108 | 2,345,714 | 11,470,539 | 293,023 | 3,211,085 | 1,079,157 | 10,781,601 |
(11,630,577) | (62,953,665) | (11,255,496) | (55,485,426) | (2,043,559) | (22,062,477) | (2,101,197) | (21,374,057) |
(7,353,987) | (39,594,286) | (5,018,644) | (24,798,754) | (1,495,670) | (16,025,749) | (345,453) | (3,717,662) |
232,553 | 1,256,743 | 395,461 | 1,551,009 | 17,572 | 189,507 | 179,695 | 1,813,103 |
4,394 | 23,507 | 87,922 | 427,301 | 4,125 | 44,583 | 33,821 | 336,898 |
(880,593) | (4,656,784) | (7,438,078) | (5,317,700) | (135,873) | (1,480,695) | (428,227) | (4,241,922) |
(643,646) | (3,376,534) | (6,954,695) | (3,339,390) | (114,176) | (1,246,605) | (214,711) | (2,091,921) |
24,356,258 | 152,445,794 | 19,225,536 | 109,971,262 | 1,586,542 | 17,476,697 | 3,070,028 | 32,214,842 |
78,799 | 492,496 | 982,602 | 5,522,224 | 188,183 | 2,079,320 | 732,473 | 7,355,459 |
(12,804,020) | (79,969,613) | (10,085,513) | (56,706,050) | (1,841,609) | (20,026,557) | (4,196,004) | (42,666,245) |
11,631,037 | 72,968,677 | 10,122,625 | 58,787,436 | (66,884) | (470,540) | (393,503) | (3,095,944) |
1,078,347 | 6,566,951 | 725,853 | 4,089,821 | 2,607,957 | 28,399,593 | 3,781,754 | 38,345,288 |
5,794 | 36,273 | 86,528 | 487,153 | 489,873 | 5,394,766 | 1,486,511 | 14,859,297 |
(631,355) | (3,924,525) | (748,587) | (4,244,022) | (3,445,331) | (37,305,656) | (8,964,398) | (92,624,074) |
452,786 | 2,678,699 | 63,794 | 332,952 | (347,501) | (3,511,297) | (3,696,133) | (39,419,489) |
10,905,457 | 62,635,195 | 11,114,924 | 56,693,014 | 589,491 | 6,484,783 | 2,651,782 | 28,445,654 |
18,046 | 103,221 | 284,288 | 1,461,242 | 64,416 | 710,921 | 165,429 | 1,655,788 |
(9,805,280) | (56,046,706) | (10,446,031) | (53,621,567) | (552,251) | (5,993,837) | (359,399) | (3,610,478) |
1,118,223 | 6,691,710 | 953,181 | 4,532,689 | 101,656 | 1,201,867 | 2,457,812 | 26,490,964 |
5,204,413 | $39,368,266 | (833,739) | $35,514,933 | (1,922,575) | $(20,052,324) | (2,191,988) | $(21,834,052) |
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(2) | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||
Class A | ||||||||||||||||||||||||||||
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(3) | 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(3) | (3.42) | (3.28) | (0.15) | (0.61) | (0.76) | 21.48 | (13.32) | 521,933 | 0.99 | 0.99 | 0.54 | 92(4)(5) | ||||||||||||||
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(4) | ||||||||||||||
06/30/24 | 24.14 | 0.37 | 2.56 | 2.93 | (0.35) | — | (0.35) | 26.72 | 12.22 | 579,513 | 1.01 | 1.01 | 1.47 | 70 | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
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)(3) | 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)(3) | (3.42) | (3.47) | — | (0.61) | (0.61) | 21.51 | (13.96) | 73,906 | 1.75 | 1.75 | (0.22) | 92(4)(5) | ||||||||||||||
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(4) | ||||||||||||||
06/30/24 | 24.18 | 0.16 | 2.58 | 2.74 | (0.15) | — | (0.15) | 26.77 | 11.38 | 72,104 | 1.77 | 1.77 | 0.71 | 70 | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
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(3) | 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(3) | (3.38) | (3.20) | (0.19) | (0.61) | (0.80) | 21.28 | (13.13) | 155,159 | 0.79(6) | 0.75 | 0.74 | 92(4)(5) | ||||||||||||||
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(4) | ||||||||||||||
06/30/24 | 23.91 | 0.42 | 2.55 | 2.97 | (0.41) | — | (0.41) | 26.47 | 12.51 | 265,024 | 0.78 | 0.78 | 1.69 | 70 | ||||||||||||||
Class R6 | ||||||||||||||||||||||||||||
06/30/22(7) | $26.15 | $0.13(3) | $(4.22) | $(4.09) | $(0.18) | $ (0.61) | $(0.79) | $21.27 | (16.08)%(8) | $112 | 0.64%(9) | 33.98%(9) | 0.89%(9) | 92%(4)(5) | ||||||||||||||
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(4) | ||||||||||||||
06/30/24 | 23.90 | 0.44 | 2.55 | 2.99 | (0.44) | — | (0.44) | 26.45 | 12.63 | 110 | 0.64 | 6.94 | 1.83 | 70 |
(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 ratio of net and gross expenses to average net assets excluding liquidity provider expenses would have been lower by 0.01% for the year ended June 30, 2023. |
(3) | The net investment income per share was based on average shares outstanding for the period. |
(4) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
(5) | 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. |
(6) | Net expenses include amounts recouped by the Adviser. |
(7) | Represents the period from commencement of operations (October 28, 2021) through June 30, 2022 for Class R6. |
(8) | Not annualized. |
(9) | 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 | ||||||||||||||||||||||||||||
06/30/20 | $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 | ||||||||||||||
06/30/24 | 10.73 | 0.29 | 0.05 | 0.34 | (0.29) | — | (0.29) | 10.78 | 3.27 | 22,231 | 0.80 | 1.09 | 2.75 | 27 | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
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 | ||||||||||||||
06/30/24 | 10.73 | 0.30 | (0.05) | 0.25 | (0.21) | — | (0.21) | 10.77 | 2.41 | 690 | 1.55 | 3.23 | 2.00 | 27 | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
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 | ||||||||||||||
06/30/24 | 10.75 | 0.32 | 0.07 | 0.39 | (0.32) | — | (0.32) | 10.82 | 3.72 | 3,015 | 0.55 | 1.16 | 3.00 | 27 | ||||||||||||||
Institutional Class | ||||||||||||||||||||||||||||
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 | ||||||||||||||
06/30/24 | 10.75 | 0.33 | 0.05 | 0.38 | (0.33) | — | (0.33) | 10.80 | 3.60 | 23,383 | 0.48 | 0.77 | 3.07 | 27 |
(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 Value 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 | ||||||||||||||||||||||||||||
06/30/20 | $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 | ||||||||||||||
06/30/24 | 15.32 | 0.22(4) | 0.30 | 0.52 | (0.21) | — | (0.21) | 15.63 | 3.41 | 78,145 | 1.34 | 1.47 | 1.44 | 112 | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
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 | (—)(5) | — | (—)(5) | 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 | ||||||||||||||
06/30/24 | 13.97 | 0.11(4) | 0.28 | 0.39 | (0.13) | — | (0.13) | 14.23 | 2.85 | 1,797 | 1.97 | 2.84 | 0.81 | 112 | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
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 | ||||||||||||||
06/30/24 | 15.13 | 0.27(4) | 0.31 | 0.58 | (0.27) | — | (0.27) | 15.44 | 3.83 | 25,049 | 0.97 | 1.24 | 1.81 | 112 | ||||||||||||||
Institutional Class | ||||||||||||||||||||||||||||
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 | ||||||||||||||
06/30/24 | 15.11 | 0.29(4) | 0.30 | 0.59 | (0.29) | — | (0.29) | 15.41 | 3.93 | 431 | 0.88 | 1.35 | 1.91 | 112 |
(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) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(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(2) | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||
Class A | ||||||||||||||||||||||||||||
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%(3) | ||||||||||||||
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(3) | ||||||||||||||
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(3)(5) | ||||||||||||||
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(3) | ||||||||||||||
06/30/24 | 56.37 | 0.31(4) | 9.68 | 9.99 | (0.34) | (0.05) | (0.39) | 65.97 | 17.79 | 2,084,764 | 1.00 | 1.00 | 0.51 | 6(3) | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
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%(3) | ||||||||||||||
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(3) | ||||||||||||||
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(3)(5) | ||||||||||||||
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(3) | ||||||||||||||
06/30/24 | 50.51 | (0.15)(4) | 8.65 | 8.50 | — | (0.05) | (0.05) | 58.96 | 16.84 | 51,919 | 1.80 | 1.81 | (0.29) | 6(3) | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
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%(3) | ||||||||||||||
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(3) | ||||||||||||||
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(3)(5) | ||||||||||||||
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(3) | ||||||||||||||
06/30/24 | 56.37 | 0.47(4) | 9.67 | 10.14 | (0.49) | (0.05) | (0.54) | 65.97 | 18.11 | 881,916 | 0.73 | 0.79 | 0.78 | 6(3) | ||||||||||||||
Institutional Class | ||||||||||||||||||||||||||||
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%(3) | ||||||||||||||
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(3) | ||||||||||||||
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(3)(5) | ||||||||||||||
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(3) | ||||||||||||||
06/30/24 | 56.48 | 0.48(4) | 9.70 | 10.18 | (0.51) | (0.05) | (0.56) | 66.10 | 18.13 | 274,624 | 0.70 | 0.72 | 0.81 | 6(3) | ||||||||||||||
Class R6 | ||||||||||||||||||||||||||||
06/30/22(6) | $61.99 | $0.22 | $(10.89) | $(10.67) | $(0.16) | $ (3.91) | $(4.07) | $47.25 | (18.43)%(7) | $804 | 0.66%(8) | 3.02%(8) | 0.47%(8) | 27%(3)(5) | ||||||||||||||
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(3) | ||||||||||||||
06/30/24 | 56.53 | 0.51(4) | 9.70 | 10.21 | (0.52) | (0.05) | (0.57) | 66.17 | 18.18 | 66,248 | 0.66 | 0.73 | 0.85 | 6(3) |
(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 ratio of net and gross expenses to average net assets excluding liquidity provider expenses would have been lower by 0.01%, 0.01%, 0.01%, 0.01% and 0.03% for the years ended June 30, 2024, 2023, 2022, 2021 and 2020, respectively. |
(3) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
(4) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(5) | 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. |
(6) | Represents the period from commencement of operations (October 28, 2021) through June 30, 2022 for Class R6. |
(7) | Not annualized. |
(8) | 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(2) | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||
Class A | ||||||||||||||||||||||||||||
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(3) | ||||||||||||||
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(3) | ||||||||||||||
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(3) | ||||||||||||||
06/30/24 | 17.20 | 0.12(4) | 1.42 | 1.54 | (0.21) | (0.07) | (0.28) | 18.46 | 9.06 | 6,464 | 1.04 | 1.39 | 0.67 | 6(3) | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
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 | (—)(5) | 15(3) | ||||||||||||||
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(3) | ||||||||||||||
06/30/23 | 15.07 | (—)(4)(5) | 2.23 | 2.23 | — | (0.57) | (0.57) | 16.73 | 15.10 | 2,036 | 1.81 | 2.17 | (—)(5) | 17(3) | ||||||||||||||
06/30/24 | 16.73 | (0.01)(4) | 1.38 | 1.37 | — | (0.07) | (0.07) | 18.03 | 8.20 | 1,353 | 1.79 | 2.46 | (0.08) | 6(3) | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
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(3) | ||||||||||||||
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(3) | ||||||||||||||
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(3) | ||||||||||||||
06/30/24 | 17.22 | 0.16(4) | 1.42 | 1.58 | (0.25) | (0.07) | (0.32) | 18.48 | 9.28 | 207,868 | 0.79 | 0.89 | 0.92 | 6(3) | ||||||||||||||
Institutional Class | ||||||||||||||||||||||||||||
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(3) | ||||||||||||||
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(3) | ||||||||||||||
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(3) | ||||||||||||||
06/30/24 | 17.23 | 0.18(4) | 1.43 | 1.61 | (0.27) | (0.07) | (0.34) | 18.50 | 9.45 | 64,183 | 0.69 | 0.83 | 1.02 | 6(3) |
(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 ratio of net and gross expenses to average net assets excluding liquidity provider expenses would have been lower by 0.01%, 0.03%, 0.02% and 0.01% for the years ended June 30, 2024, 2023, 2022 and 2021, respectively. |
(3) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
(4) | The net investment income per share was based on average shares outstanding for the period. |
(5) | 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 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(2) | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||
Class A | ||||||||||||||||||||||||||||
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(3) | ||||||||||||||
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(3) | ||||||||||||||
06/30/23 | 36.16 | (0.17)(4) | 6.10 | 5.93 | — | (1.23) | (1.23) | 40.86 | 16.89 | 3,711 | 1.08 | 1.57 | (0.46) | 44(3) | ||||||||||||||
06/30/24 | 40.86 | (0.30)(4) | 16.72 | 16.42 | — | (1.92) | (1.92) | 55.36 | 41.47 | 5,337 | 1.07 | 1.53 | (0.65) | 39(3) | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
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(3) | ||||||||||||||
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(3) | ||||||||||||||
06/30/23 | 33.92 | (0.42)(4) | 5.68 | 5.26 | — | (1.23) | (1.23) | 37.95 | 16.01 | 223 | 1.83 | 5.86 | (1.21) | 44(3) | ||||||||||||||
06/30/24 | 37.95 | (0.58)(4) | 15.41 | 14.83 | — | (1.92) | (1.92) | 50.86 | 40.43 | 216 | 1.82 | 6.43 | (1.40) | 39(3) | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
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(3) | ||||||||||||||
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(3) | ||||||||||||||
06/30/23 | 36.91 | (0.08)(4) | 6.24 | 6.16 | — | (1.23) | (1.23) | 41.84 | 17.17 | 7,266 | 0.83 | 1.07 | (0.21) | 44(3) | ||||||||||||||
06/30/24 | 41.84 | (0.19)(4) | 17.17 | 16.98 | — | (1.92) | (1.92) | 56.90 | 41.85 | 10,199 | 0.82 | 1.08 | (0.40) | 39(3) | ||||||||||||||
Institutional Class | ||||||||||||||||||||||||||||
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(3) | ||||||||||||||
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(3) | ||||||||||||||
06/30/23 | 37.22 | (0.04)(4) | 6.30 | 6.26 | — | (1.23) | (1.23) | 42.25 | 17.30 | 135,324 | 0.73 | 0.88 | (0.11) | 44(3) | ||||||||||||||
06/30/24 | 42.25 | (0.14)(4) | 17.35 | 17.21 | — | (1.92) | (1.92) | 57.54 | 41.99 | 137,363 | 0.72 | 0.89 | (0.30) | 39(3) |
(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 ratio of net and gross expenses to average net assets excluding liquidity provider expenses would have been lower by 0.03%, 0.04%, 0.03% and 0.02% for the years ended June 30, 2024, 2023, 2022 and 2021, respectively. |
(3) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
(4) | 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(2) | Ratio of net investment income (loss) to average net assets | Portfolio turnover rate | ||||||||||||||
Class A | ||||||||||||||||||||||||||||
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(3) | ||||||||||||||
06/30/22 | 6.67 | (0.02)(4) | (0.95) | (0.97) | — | (1.14) | (1.14) | 4.56 | (17.95) | 451,081 | 1.17 | 1.17 | (0.31) | 70(3) | ||||||||||||||
06/30/23 | 4.56 | (—)(4)(5) | 0.71 | 0.71 | — | (0.12) | (0.12) | 5.15 | 15.80 | 484,105 | 1.19 | 1.19 | (—)(5) | 79(3) | ||||||||||||||
06/30/24 | 5.15 | (—)(4)(5) | 0.64 | 0.64 | — | (0.01) | (0.01) | 5.78 | 12.41 | 500,584 | 1.18 | 1.18 | (—)(5) | 59(3) | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
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(3) | ||||||||||||||
06/30/22^ | 8.52 | (0.08)(4) | (0.89) | (0.97) | — | (3.01) | (3.01) | 4.54 | (18.70) | 17,385 | 1.97 | 2.02 | (1.11) | 70(3) | ||||||||||||||
06/30/23^ | 4.54 | (0.03)(4) | 0.71 | 0.68 | — | (0.12) | (0.12) | 5.10 | 15.26 | 15,992 | 1.96 | 2.06 | (0.77) | 79(3) | ||||||||||||||
06/30/24 | 5.10 | (0.04)(4) | 0.62 | 0.58 | — | (0.01) | (0.01) | 5.67 | 11.35 | 14,146 | 1.96 | 2.06 | (0.78) | 59(3) | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
06/30/20 | $5.33 | $(—)(5) | $(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 | (—)(5) | (0.01) | (0.01) | 7.45 | 64.61 | 282,428 | 0.91 | 0.99 | (0.16) | 80(3) | ||||||||||||||
06/30/22 | 7.45 | (—)(4)(5) | (1.10) | (1.10) | — | (1.14) | (1.14) | 5.21 | (17.81) | 222,141 | 0.91 | 0.97 | (0.05) | 70(3) | ||||||||||||||
06/30/23 | 5.21 | 0.02(4) | 0.82 | 0.84 | — | (0.12) | (0.12) | 5.93 | 16.33 | 312,720 | 0.90 | 0.98 | 0.29 | 79(3) | ||||||||||||||
06/30/24 | 5.93 | 0.02(4) | 0.73 | 0.75 | — | (0.01) | (0.01) | 6.67 | 12.63 | 429,455 | 0.90 | 0.96 | 0.28 | 59(3) | ||||||||||||||
Institutional Class | ||||||||||||||||||||||||||||
06/30/20 | $5.32 | $—(5) | $(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 | (—)(5) | 2.93 | 2.93 | (—)(5) | (0.01) | (0.01) | 7.44 | 64.75 | 18,770 | 0.81 | 0.99 | (0.06) | 80(3) | ||||||||||||||
06/30/22 | 7.44 | —(4)(5) | (1.09) | (1.09) | — | (1.14) | (1.14) | 5.21 | (17.70) | 21,299 | 0.81 | 0.96 | 0.05 | 70(3) | ||||||||||||||
06/30/23 | 5.21 | 0.02(4) | 0.83 | 0.85 | — | (0.12) | (0.12) | 5.94 | 16.52 | 24,638 | 0.80 | 0.96 | 0.39 | 79(3) | ||||||||||||||
06/30/24 | 5.94 | 0.02(4) | 0.74 | 0.76 | — | (0.01) | (0.01) | 6.69 | 12.78 | 30,779 | 0.80 | 0.94 | 0.38 | 59(3) | ||||||||||||||
Class R6 | ||||||||||||||||||||||||||||
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 | (—)(5) | 2.73 | 2.73 | (—)(5) | (0.01) | (0.01) | 6.91 | 65.08 | 63,766 | 0.81 | 0.89 | (0.06) | 80(3) | ||||||||||||||
06/30/22 | 6.91 | —(4)(5) | (1.00) | (1.00) | — | (1.14) | (1.14) | 4.77 | (17.73) | 53,500 | 0.81 | 0.87 | 0.05 | 70(3) | ||||||||||||||
06/30/23 | 4.77 | 0.02(4) | 0.75 | 0.77 | — | (0.12) | (0.12) | 5.42 | 16.37 | 65,962 | 0.80 | 0.88 | 0.39 | 79(3) | ||||||||||||||
06/30/24 | 5.42 | 0.02(4) | 0.67 | 0.69 | — | (0.01) | (0.01) | 6.10 | 12.72 | 81,101 | 0.80 | 0.87 | 0.38 | 59(3) |
^ | Updated to reflect the effect of a 1 for 0.379048 reverse stock split for Class C shares on October 14, 2022. 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 ratio of net and gross expenses to average net assets excluding liquidity provider expenses would have been lower by 0.01%, 0.01%, 0.02% and 0.02% for the years ended June 30, 2024, 2023, 2022 and 2021, respectively. |
(3) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
(4) | The net investment income per share was based on average shares outstanding for the period. |
(5) | 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 | ||||||||||||||||||||||||||||
06/30/20 | $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(2) | ||||||||||||||
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(3) | ||||||||||||||
06/30/24 | 10.25 | 0.14(4) | 1.56 | 1.70 | (0.15) | (0.09) | (0.24) | 11.71 | 16.71 | 163,754 | 1.08 | 1.13 | 1.30 | 28 | ||||||||||||||
Class C | ||||||||||||||||||||||||||||
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(2) | ||||||||||||||
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(3) | ||||||||||||||
06/30/24 | 10.22 | 0.06(4) | 1.54 | 1.60 | (0.06) | (0.09) | (0.15) | 11.67 | 15.76 | 2,919 | 1.83 | 2.16 | 0.55 | 28 | ||||||||||||||
Class Y | ||||||||||||||||||||||||||||
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(2) | ||||||||||||||
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(3) | ||||||||||||||
06/30/24 | 10.31 | 0.17(4) | 1.55 | 1.72 | (0.17) | (0.09) | (0.26) | 11.77 | 16.90 | 96,905 | 0.83 | 0.88 | 1.55 | 28 | ||||||||||||||
Institutional Class | ||||||||||||||||||||||||||||
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(2) | ||||||||||||||
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(3) | ||||||||||||||
06/30/24 | 10.27 | 0.19(4) | 1.55 | 1.74 | (0.19) | (0.09) | (0.28) | 11.73 | 17.14 | 250,463 | 0.68 | 0.81 | 1.70 | 28 | ||||||||||||||
Class R6 | ||||||||||||||||||||||||||||
06/30/22(5) | $11.91 | $0.11 | $(1.11) | $(1.00) | $(0.13) | $ (0.85) | $(0.98) | $9.93 | (9.10)%(6) | $395 | 0.63%(7) | 8.11%(7) | 1.47%(7) | 63%(2) | ||||||||||||||
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(3) | ||||||||||||||
06/30/24 | 10.27 | 0.19(4) | 1.57 | 1.76 | (0.20) | (0.09) | (0.29) | 11.74 | 17.29 | 30,504 | 0.63 | 0.79 | 1.75 | 28 |
(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 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. |
(3) | Portfolio turnover excludes securities delivered from processing redemptions-in-kind. |
(4) | The net investment income (loss) per share was based on average shares outstanding for the period. |
(5) | Represents the period from commencement of operations (October 28, 2021) through June 30, 2022 for Class R6. |
(6) | Not annualized. |
(7) | Annualized. |
Touchstone Balanced Fund ("Balanced Fund”) |
Touchstone Core Municipal Bond Fund ("Core Municipal Bond Fund”) |
Touchstone International Value Fund (formerly Touchstone International Equity Fund) ("International Value 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 Value 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* | $63,037 | $— |
Futures Contracts - Interest Rate Contracts** | 146,407 | 244,647 |
* | 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: Receivable 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* | $(848,841) | $839,330 |
Swap Agreements - Credit Contracts** | (1,051,259) | 213,237 |
* | 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 losses 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 | $10,179,120 |
Interest Rate Contracts: | |
Futures Contracts (long) - Notional Value | 68,516,628 |
Futures Contracts (short) - Notional Value | 11,754,025 |
Fund | Security Type | Market Value of Securities Loaned* | Market Value of Collateral Received** | Net Amount*** |
Small Company Fund | Common Stocks | $15,339,549 | $15,468,550 | $129,001 |
Value Fund | Common Stocks | 5,257,800 | 5,347,500 | 89,700 |
* | 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 Value Fund | Large Cap Focused Fund* | |
Purchases of investment securities | $120,863,558 | $13,314,323 | $117,167,326 | $290,057,439 |
Proceeds from sales and maturities | $121,019,646 | $16,080,687 | $120,999,966 | $178,284,419 |
Large Cap Fund* | Large Company Growth Fund* | Small Company Fund* | Value Fund | |
Purchases of investment securities | $17,169,327 | $52,692,284 | $614,896,164 | $142,038,377 |
Proceeds from sales and maturities | $18,557,640 | $66,614,868 | $557,061,644 | $174,308,353 |
* | The Large Cap Focused Fund, the Large Cap Fund, the Large Company Growth Fund and the Small Company Fund had redemption-in-kinds out of the Fund of $143,206,386, $14,001,283, $26,160,798 and $20,220,175, 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 Value 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 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 | London Company of Virginia d/b/a The London Company |
Barrow Hanley Global Investors | Large Cap Fund |
Value Fund | Fort Washington Investment Advisors, Inc.* |
DSM Capital Partners LLC | Balanced Fund |
Large Company Growth Fund | Large Cap Focused Fund |
Sage Advisory Services, Ltd Co. | Small Company Fund |
Core Municipal Bond Fund | |
LSV Asset Management ** | |
International Value 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, 2024 |
Core Municipal Bond Fund | 0.80% | 1.55% | 0.55% | 0.48% | — | October 29, 2024 |
International Value Fund* | 1.26% | 1.89% | 0.89% | 0.79% | — | April 29, 2025 |
Large Cap Focused Fund | 1.00% | 1.79% | 0.72% | 0.69% | 0.65% | October 29, 2024 |
Large Cap Fund | 1.03% | 1.78% | 0.78% | 0.68% | — | October 29, 2024 |
Large Company Growth Fund | 1.04% | 1.79% | 0.79% | 0.69% | — | October 29, 2024 |
Small Company Fund | 1.22% | 1.95% | 0.89% | 0.79% | 0.79% | October 29, 2024 |
Value Fund | 1.08% | 1.83% | 0.83% | 0.68% | 0.63% | October 29, 2024 |
* | Prior to April 30, 2024, the expense limitations for Classes A, C, Y, and Institutional Class shares were 1.36%, 1.99%, 0.99% and 0.89%, respectively. |
Fund | Investment Advisory Fees Waived | Administration Fees Waived | Other Operating Expenses Reimbursed/ Waived | Total |
Balanced Fund | $— | $23 | $6,397 | $6,420 |
Core Municipal Bond Fund | — | 37,964 | 132,808 | 170,772 |
International Value Fund | — | 22,115 | 183,759 | 205,874 |
Large Cap Focused Fund | — | 8,381 | 532,217 | 540,598 |
Large Cap Fund | — | 98,349 | 232,995 | 331,344 |
Large Company Growth Fund | — | 148,094 | 110,971 | 259,065 |
Small Company Fund | — | 38,278 | 268,590 | 306,868 |
Value Fund | — | 227,565 | 248,215 | 475,780 |
Fund | Expires on or before June 30, 2025 | Expires on or before June 30, 2026 | Expires on or before June 30, 2027 | Total |
Balanced Fund | $4,428 | $6,383 | $6,420 | $17,231 |
Core Municipal Bond Fund | 99,819 | 85,859 | 106,066 | 291,744 |
International Value Fund | 64,511 | 61,315 | 87,423 | 213,249 |
Large Cap Focused Fund | 413,033 | 562,231 | 534,098 | 1,509,362 |
Large Cap Fund | 321,303 | 274,546 | 305,525 | 901,374 |
Large Company Growth Fund | 309,075 | 258,765 | 246,627 | 814,467 |
Small Company Fund | 229,745 | 299,021 | 292,662 | 821,428 |
Value Fund | 498,918 | 385,367 | 390,592 | 1,274,877 |
Fund | Amount |
Balanced Fund | $ 56,376 |
Core Municipal Bond Fund | 130 |
International Value Fund | 2,053 |
Large Cap Focused Fund | 40,463 |
Large Cap Fund | 553 |
Large Company Growth Fund | 932 |
Small Company Fund | 22,722 |
Value Fund | 3,746 |
Fund | Class A | Class C |
Balanced Fund | $ — | $ 2,953 |
International Value Fund | 61 | 45 |
Large Cap Focused Fund | 934 | 762 |
Fund | Class A | Class C |
Small Company Fund | $945 | $112 |
Value Fund | 800 | 41 |
Fund | Shares ReFlow Subscribed to | Redemptions-in-kind |
Large Cap Focused Fund | 3,216,524 | $ 143,206,386 |
Large Cap Fund | 857,844 | 14,001,283 |
Large Company Growth Fund | 648,211 | 26,160,798 |
Small Company Fund | 7,566,910 | 20,220,175 |
Fund | Daily Average Amount Loaned | Weighted Average Interest Rate | Interest Income* |
Large Cap Focused Fund | $ 1,427,989 | 5.87% | $ 85,086 |
* | Included in Interest in the Statements of Operations. |
Fund | Daily Average Amount Borrowed | Weighted Average Interest Rate | Interest Expense* |
International Value Fund | $ 7,419 | 5.89% | $ 443 |
Large Company Growth Fund | $ 40,545 | 5.89% | $ 2,421 |
* | Included in Other expenses in the Statements of Operations. |
Balanced Fund | Core Municipal Bond Fund | International Value Fund | ||||
Year Ended June 30, 2024 | Year Ended June 30, 2023 | Year Ended June 30, 2024 | Year Ended June 30, 2023 | Year Ended June 30, 2024 | Year Ended June 30, 2023 | |
From ordinary income | $12,011,292 | $9,279,479 | $56,917 | $51,389 | $1,681,923 | $1,589,590 |
From tax-exempt income | — | — | 1,426,370 | 1,273,902 | — | — |
Total distributions | $12,011,292 | $9,279,479 | $1,483,287 | $1,325,291 | $1,681,923 | $1,589,590 |
Large Cap Focused Fund | Large Cap Fund | Large Company Growth Fund | ||||
Year Ended June 30, 2024 | Year Ended June 30, 2023 | Year Ended June 30, 2024 | Year Ended June 30, 2023 | Year Ended June 30, 2024 | Year Ended June 30, 2023 | |
From ordinary income | $20,228,585 | $13,237,610 | $3,999,402 | $1,812,385 | $— | $— |
From long-term capital gains | 2,633,783 | 26,814,979 | 987,379 | 9,064,294 | 5,206,543 | 4,964,537 |
Total distributions | $22,862,368 | $40,052,589 | $4,986,781 | $10,876,679 | $5,206,543 | $4,964,537 |
Small Company Fund | Value Fund | |||
Year Ended June 30, 2024 | Year Ended June 30, 2023 | Year Ended June 30, 2024 | Year Ended June 30, 2023 | |
From ordinary income | $— | $48,824 | $7,919,186 | $11,174,379 |
From long-term capital gains | 1,430,467 | 19,728,744 | 4,210,139 | 26,524,891 |
Total distributions | $1,430,467 | $19,777,568 | $12,129,325 | $37,699,270 |
Balanced Fund | Core Municipal Bond Fund | International Value Fund | Large Cap Focused Fund | Large Cap Fund | |
Tax cost of portfolio investments | $687,082,873 | $49,509,668 | $102,950,176 | $1,795,966,737 | $161,691,489 |
Gross unrealized appreciation on investments | 257,860,308 | 459,696 | 6,280,536 | 1,629,960,748 | 122,030,776 |
Gross unrealized depreciation on investments | (31,641,638) | (1,212,870) | (5,028,093) | (66,489,442) | (3,835,914) |
Net unrealized appreciation (depreciation) on investments | 226,218,670 | (753,174) | 1,252,443 | 1,563,471,306 | 118,194,862 |
Gross unrealized appreciation on foreign currency transactions | 22 | — | — | — | — |
Gross unrealized depreciation on foreign currency transactions and deferred foreign capital gains tax | (50) | — | (10,838) | — | — |
Net unrealized appreciation (depreciation) on foreign currency transactions and deferred foreign capital gains tax | (28) | — | (10,838) | — | — |
Capital loss carryforwards | (5,851,503) | (1,781,750) | (63,995,140) | — | — |
Undistributed ordinary income | 261,507 | — | 677,951 | 10,381,765 | 1,403,313 |
Undistributed capital gains | — | — | 5,497,943 | 13,863,796 | 2,110,009 |
Undistributed tax-exempt income | — | 1,635 | — | — | — |
Other temporary differences | (463,204) | (9,686) | (776) | — | — |
Accumulated earnings (deficit) | $220,165,442 | $(2,542,975) | $(56,578,417) | $1,587,716,867 | $121,708,184 |
Large Company Growth Fund | Small Company Fund | Value Fund | |
Tax cost of portfolio investments | $83,677,184 | $825,791,358 | $421,324,569 |
Gross unrealized appreciation on investments | 72,048,109 | 269,893,771 | 142,120,644 |
Gross unrealized depreciation on investments | (884,012) | (24,223,622) | (13,916,201) |
Net unrealized appreciation (depreciation) on investments | 71,164,097 | 245,670,149 | 128,204,443 |
Gross unrealized depreciation on foreign currency transactions | — | (96) | — |
Net unrealized appreciation (depreciation) on foreign currency transactions | — | (96) | — |
Undistributed ordinary income | 427,248 | 4,658,400 | — |
Undistributed capital gains | 2,188,802 | 25,720,292 | 21,954,317 |
Accumulated earnings (deficit) | $73,780,147 | $276,048,745 | $150,158,760 |
Fund | No Expiration Short Term | No Expiration Long Term | Total |
Balanced Fund | $ 5,851,503 | $ — | $ 5,851,503 |
Core Municipal Bond Fund | 1,282,278 | 499,472 | 1,781,750 |
International Value Fund* | 34,167,354 | 29,827,786 | 63,995,140 |
* | Future utilization may be limited under current tax laws. |
Fund | Utilized |
Balanced Fund | $ 661,301 |
International Value Fund | 8,482,371 |
Fund | Paid-In Capital | Distributable Earnings |
International Value Fund | $ 279,263 | $ (279,263) |
Large Cap Focused Fund | 92,861,590 | (92,861,590) |
Large Cap Fund | 6,836,030 | (6,836,030) |
Large Company Growth Fund | 15,440,799 | (15,440,799) |
Small Company Fund | 11,013,801 | (11,013,801) |
Value Fund | 561,550 | (561,550) |
Balanced Fund | 55.14 % |
International Value Fund | 100.00 % |
Large Cap Focused Fund | 100.00 % |
Large Cap Fund | 100.00 % |
Large Company Growth Fund | 100.00 % |
Small Company Fund | 100.00 % |
Value Fund | 100.00 % |
Balanced Fund | 50.20 % |
Large Cap Focused Fund | 100.00 % |
Large Cap Fund | 100.00 % |
Large Company Growth Fund | 89.28 % |
Small Company Fund | 100.00 % |
Value Fund | 100.00 % |
International Value Fund | $ 5,777,206 |
Large Cap Focused Fund | $ 25,313,753 |
Large Cap Fund | $ 2,896,796 |
Large Company Growth Fund | $ 8,740,536 |
Small Company Fund | $ 26,634,785 |
Value Fund | $ 22,670,720 |
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
Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Not applicable.
Item 9. Proxy Disclosures for Open-End Management Investment Companies.
Not applicable.
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
The information is included as part of the material filed under Item 7 of this Form.
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
Not applicable.
Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 13. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 15. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which 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 16. 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 have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 18. Recovery of Erroneously Awarded Compensation.
Not Applicable.
Item 19. Exhibits.
(a)(1) | The registrant’s Code of Ethics is attached hereto. |
(a)(2) | Not applicable. |
(a)(3) | 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)(3)(1) | There were no written solicitations to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report by or on behalf of the Registrant to 10 or more persons. |
(a)(3)(2) | There was no change in the Registrant’s independent public accountant during the period covered by the report. |
(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: | 09/03/2024 |
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: | 09/03/2024 |
By (Signature and Title)* | /s/ Terrie A. Wiedenheft | |
Terrie A. Wiedenheft, Controller and Treasurer | ||
(principal financial officer) |
Date: | 09/03/2024 |
* Print the name and title of each signing officer under his or her signature.