HSBC Funds NPORT-P HSBC RadiantESG U.S. Smaller Companies Portfolio (Jul 2023 report)

HSBC Funds

Quarterly Report

July 31, 2023

HSBC RADIANTESG U.S. SMALLER COMPANIES PORTFOLIO

Schedule of Portfolio Investments — as of July 31, 2023 (Unaudited)

	Shares		Value ($)
Common Stocks — 98.1%
Biotechnology — 7.9%
Alkermes PLC(a)		14,970		438,322
Dynavax Technologies Corp.(a)		16,340		228,597
Exact Sciences Corp.(a)		4,560		444,782
Halozyme Therapeutics, Inc.(a)		11,800		506,928
Ironwood Pharmaceuticals, Inc., Class A(a)		3,460		38,371
Myriad Genetics Inc.(a)		9,450		211,207
				1,868,207
Building Products — 3.3%
Apogee Enterprises, Inc.		2,900		143,637
JELD-WEN Holding Inc.(a)		3,500		62,335
Owens Corning		4,100		573,959
				779,931
Capital Markets — 2.0%
Cboe Global Markets, Inc.		160		22,349
Donnelley Financial Solutions Inc.(a)		4,670		220,891
Victory Capital Holdings, Inc., Class A		6,710		222,503
				465,743
Commercial Banks — 1.0%
SouthState Corp.		2,980		231,457
Communications Equipment — 2.2%
Extreme Networks, Inc.(a)		19,400		515,846
Construction & Engineering — 2.7%
Sterling Infrastructure, Inc.(a)		3,830		229,762
WillScot Mobile Mini Holdings Corp.(a)		8,460		405,657
				635,419
Consumer Staples Distribution & Retail — 1.0%
Sprouts Farmers Market Inc.(a)		6,240		244,920
Diversified Consumer Services — 3.4%
ADT, Inc.		14,040		89,575
Frontdoor, Inc.(a)		7,970		278,313
H&R Block, Inc.		12,990		436,594
				804,482
Diversified Telecommunication Services — 1.6%
Iridium Communications, Inc.		7,360		386,768
Electrical Equipment — 1.9%
Atkore, Inc.(a)		2,780		441,103
Electronic Equipment, Instruments & Components — 4.0%
Advanced Energy Industries, Inc.		4,300		538,274
Jabil, Inc.		3,790		419,439
				957,713
Financial Services — 1.3%
WEX, Inc.(a)		1,640		310,534
Health Care Equipment & Supplies — 9.8%
Artivion, Inc.(a)		14,460		251,893
AtriCure, Inc.(a)		5,130		283,945
CONMED Corp.		3,000		363,150
Haemonetics Corp.(a)		3,280		302,547
Inspire Medical Systems, Inc.(a)		960		276,298
Penumbra, Inc.(a)		1,210		367,065
Tactile Systems Technology Inc.(a)		8,680		198,859
TransMedics Group, Inc.(a)		2,970		276,745
				2,320,502
Health Care Providers & Services — 7.1%
AMN Healthcare Services, Inc.(a)		2,510		268,946
Cross Country Healthcare, Inc.(a)		4,820		124,356
Ensign Group, Inc.		5,030		487,256
Option Care Health, Inc.(a)		9,260		312,803
RadNet, Inc.(a)		7,500		248,100
Surgery Partners, Inc.(a)		6,400		247,232
				1,688,693
Health Care REITs — 0.5%
Omega Healthcare Investors, Inc.		3,800		121,220
Health Care Technology — 1.2%
Health Catalyst, Inc.(a)		19,860		278,636
Household Durables — 7.1%
Cavco Industries Inc.(a)		650		192,173
Installed Building Products, Inc.		3,250		481,065
Tempur Sealy International, Inc.		9,770		436,035
TopBuild Corp.(a)		2,080		569,774
				1,679,047

HSBC FAMILY OF FUNDS 1

HSBC RADIANTESG U.S. SMALLER COMPANIES PORTFOLIO

Schedule of Portfolio Investments — as of July 31, 2023 (Unaudited) (continued)

	Shares		Value ($)
Common Stocks, continued
Interactive Media & Services — 0.9%
Cars.com, Inc.(a)		9,680		220,801
Life Sciences Tools & Services — 1.8%
Bruker Corp.		6,120		420,566
Machinery — 1.1%
Wabash National Corp.		10,910		258,349
Metals & Mining — 1.0%
Constellium SE, Class A(a)		13,080		249,697
Pharmaceuticals — 0.2%
Jazz Pharmaceuticals PLC(a)		450		58,689
Professional Services — 5.2%
Insperity, Inc.		3,480		409,422
Paylocity Holding Corp.(a)		2,210		501,339
Verra Mobility Corp., Class A(a)		15,870		333,111
				1,243,872
Retail REITs — 1.8%
Tanger Factory Outlet Centers, Inc.		18,480		432,617
Semiconductors & Semiconductor Equipment — 6.4%
Axcelis Technologies, Inc.(a)		2,170		435,041
Lattice Semiconductor Corp.(a)		4,440		403,774
PDF Solutions Inc.(a)		1,010		46,450
Power Integrations Inc.		2,880		279,763
Rambus, Inc.(a)		5,700		356,877
				1,521,905
Software — 15.0%
Elastic NV(a)		4,020		267,129
Gen Digital, Inc.		23,270		452,601
Manhattan Associates, Inc.(a)		2,610		497,518
New Relic, Inc.(a)		3,930		330,041
Nutanix, Inc., Class A(a)		14,580		440,316
OneSpan, Inc.(a)		3,540		48,640
PROS Holdings, Inc.(a)		7,730		293,740
Smartsheet Inc., Class A(a)		6,410		284,604
Teradata Corp.(a)		4,990		283,681
Workiva, Inc., Class A(a)		4,040		425,372
Zuora, Inc., Class A(a)		20,620		241,873
				3,565,515
Specialized REITs — 1.9%
Iron Mountain, Inc.		7,260		445,764
Specialty Retail — 0.9%
Sally Beauty Holdings, Inc.(a)		17,600		210,672
Technology Hardware, Storage & Peripherals — 2.1%
Pure Storage, Inc., Class A(a)		13,730		507,873
Textiles, Apparel & Luxury Goods — 1.8%
Kontoor Brands, Inc.		9,930		420,635
TOTAL COMMON STOCKS (Cost $19,051,227)				23,287,176
TOTAL INVESTMENTS IN SECURITIES (Cost $19,051,227) — 98.1%				23,287,176
Other Assets (Liabilities) — 1.9%				452,577
NET ASSETS — 100.0%			$	23,739,753

^(a) Represents non-income producing security

2 HSBC FAMILY OF FUNDS

HSBC RADIANTESG U.S. SMALLER COMPANIES FUND

Schedule of Portfolio Investments — as of July 31, 2023 (Unaudited)

	Value ($)
Affiliated Portfolio — 99.7%
HSBC RadiantESG U.S. Smaller Companies Portfolio		8,191,359
TOTAL AFFILIATED PORTFOLIO (Cost $6,776,594)		8,191,359
TOTAL INVESTMENTS IN SECURITIES (Cost $6,776,594) — 99.7%		8,191,359
Other Assets (Liabilities) — 0.3%		25,469
NET ASSETS — 100.0%	$	8,216,828

Affiliated Investment Transactions:

A summary of each Fund’s investment in the Portfolio for the nine-month period ended July 31, 2023 is as follows:

	Value 10/31/2022 ($)	Contributions ($)	Withdrawals ($)	Net Realized Gains/(Losses) ($)	Change in Unrealized Appreciation /Depreciation ($)	Value 07/31/2023 ($)	Net Income/(Loss) ($)
RadiantESG U.S. Smaller Companies Fund
HSBC RadiantESG U.S. Smaller Companies Portfolio	8,175,190	515,883	(1,957,665)	400,390	1,057,561	8,191,359	(203,511)
Total	8,175,190	515,883	(1,957,665)	400,390	1,057,561	8,191,359	(203,511)

HSBC FAMILY OF FUNDS 1

HSBC RADIANTESG U.S. SMALLER COMPANIES FUND (CLASS I)

Schedule of Portfolio Investments — as of July 31, 2023 (Unaudited)

	Value ($)
Affiliated Portfolio — 99.8%
HSBC RadiantESG U.S. Smaller Companies Portfolio		15,548,394
TOTAL AFFILIATED PORTFOLIO (Cost $12,727,210)		15,548,394
TOTAL INVESTMENTS IN SECURITIES (Cost $12,727,210) — 99.8%		15,548,394
Other Assets (Liabilities) — 0.2%		28,552
NET ASSETS — 100.0%	$	15,576,946

Affiliated Investment Transactions:

A summary of each Fund’s investment in the Portfolio for the nine-month period ended July 31, 2023 is as follows:

	Value 10/31/2022 ($)	Contributions ($)	Withdrawals ($)	Net Realized Gains/(Losses) ($)	Change in Unrealized Appreciation /Depreciation ($)	Value 07/31/2023 ($)	Net Income/(Loss) ($)
RadiantESG U.S. Smaller Companies Fund (Class I)
HSBC RadiantESG U.S. Smaller Companies Portfolio	17,023,582	880,594	(5,101,250)	672,123	2,073,345	15,548,394	(395,800)
Total	17,023,582	880,594	(5,101,250)	672,123	2,073,345	15,548,394	(395,800)

HSBC FAMILY OF FUNDS 1