Schedule of Investments
January 31, 2024 (Unaudited)
LSV U.S. Managed Volatility Fund | ||||||||
Shares | Value (000) | |||||||
Common Stock (99.4%) | ||||||||
Communication Services (9.4%) | ||||||||
AT&T | 36,000 | $ | 637 | |||||
Cogeco Communications | 2,900 | 134 | ||||||
Comcast, Cl A | 13,400 | 624 | ||||||
Fox | 6,300 | 203 | ||||||
Nippon Telegraph & Telephone ADR | 4,500 | 141 | ||||||
SK Telecom ADR | 7,713 | 162 | ||||||
T-Mobile US | 1,000 | 161 | ||||||
Verizon Communications | 22,000 | 932 | ||||||
|
| |||||||
2,994 | ||||||||
|
| |||||||
Consumer Discretionary (4.8%) |
| |||||||
AutoZone* | 100 | 276 | ||||||
Canadian Tire, Cl A | 2,100 | 223 | ||||||
H&R Block | 6,300 | 295 | ||||||
Honda Motor ADR | 11,200 | 375 | ||||||
Murphy USA | 700 | 247 | ||||||
Whirlpool | 1,100 | 120 | ||||||
|
| |||||||
1,536 | ||||||||
|
| |||||||
Consumer Staples (12.8%) |
| |||||||
Altria Group | 8,100 | 325 | ||||||
Archer-Daniels-Midland | 5,400 | 300 | ||||||
Bunge Global | 1,700 | 150 | ||||||
Campbell Soup | 5,900 | 263 | ||||||
Conagra Brands | 10,800 | 315 | ||||||
General Mills | 5,700 | 370 | ||||||
Ingredion | 1,800 | 193 | ||||||
JM Smucker | 1,900 | 250 | ||||||
Kellanova | 6,600 | 361 | ||||||
Kraft Heinz | 12,600 | 468 | ||||||
Kroger | 12,700 | 586 | ||||||
Molson Coors Beverage, Cl B | 5,900 | 365 | ||||||
Walmart | 600 | 99 | ||||||
WK Kellogg | 1,650 | 21 | ||||||
|
| |||||||
4,066 | ||||||||
|
| |||||||
Energy (4.5%) |
| |||||||
Chesapeake Energy | 2,100 | 162 | ||||||
Chevron | 2,800 | 413 | ||||||
Eni ADR | 10,800 | 345 | ||||||
ExxonMobil | 4,900 | 504 | ||||||
|
| |||||||
1,424 | ||||||||
|
| |||||||
Financials (10.7%) | ||||||||
Aflac | 4,500 | 379 | ||||||
Bank of New York Mellon | 8,900 | 494 | ||||||
Bank of Nova Scotia | 2,300 | 108 | ||||||
Berkshire Hathaway, Cl B* | 700 | 269 | ||||||
Canadian Imperial Bank of Commerce | 4,400 | 199 | ||||||
Hartford Financial Services Group | 5,500 | 478 |
LSV U.S. Managed Volatility Fund | ||||||||
Shares | Value (000) | |||||||
Financials (continued) | ||||||||
Loblaw | 3,100 | $ | 310 | |||||
Loews | 2,100 | 153 | ||||||
MetLife | 1,700 | 118 | ||||||
OceanFirst Financial | 5,730 | 99 | ||||||
Old Republic International | 7,000 | 196 | ||||||
Sixth Street Specialty Lending | 7,300 | 158 | ||||||
WaFd | 4,700 | 136 | ||||||
Western Union | 26,200 | 329 | ||||||
|
| |||||||
3,426 | ||||||||
|
| |||||||
Health Care (18.3%) | ||||||||
Amgen | 2,100 | 660 | ||||||
Bristol-Myers Squibb | 7,900 | 386 | ||||||
Cardinal Health | 4,100 | 448 | ||||||
Cigna Group | 800 | 241 | ||||||
CVS Health | 6,100 | 454 | ||||||
Fortrea Holdings* | 900 | 28 | ||||||
Gilead Sciences | 9,000 | 705 | ||||||
GSK ADR | 9,100 | 359 | ||||||
Incyte* | 3,000 | 176 | ||||||
Jazz Pharmaceuticals* | 2,000 | 245 | ||||||
Johnson & Johnson | 2,500 | 397 | ||||||
McKesson | 800 | 400 | ||||||
Merck | 7,000 | 845 | ||||||
Organon | 1,993 | 33 | ||||||
Pfizer | 10,100 | 274 | ||||||
Sanofi ADR | 3,600 | 180 | ||||||
|
| |||||||
5,831 | ||||||||
|
| |||||||
Industrials (8.6%) | ||||||||
Allison Transmission Holdings | 5,600 | 339 | ||||||
CSG Systems International | 5,800 | 292 | ||||||
Cummins | 1,400 | 335 | ||||||
Lockheed Martin | 800 | 343 | ||||||
Northrop Grumman | 400 | 179 | ||||||
PACCAR | 3,500 | 351 | ||||||
Science Applications International | 2,200 | 281 | ||||||
Snap-on | 1,200 | 348 | ||||||
Textron | 3,200 | 271 | ||||||
|
| |||||||
2,739 | ||||||||
|
| |||||||
Information Technology (19.5%) | ||||||||
Amdocs | 9,400 | 862 | ||||||
Arrow Electronics* | 2,400 | 267 | ||||||
Avnet | 6,600 | 299 | ||||||
Canon ADR | 16,400 | 452 | ||||||
Cisco Systems | 17,300 | 868 | ||||||
Cognizant Technology Solutions, Cl A | 4,200 | 324 | ||||||
Dell Technologies, Cl C | 3,400 | 282 | ||||||
Hewlett Packard Enterprise | 23,400 | 358 | ||||||
Insight Enterprises* | 2,200 | 406 |
1
Schedule of Investments
January 31, 2024 (Unaudited)
LSV U.S. Managed Volatility Fund | ||||||||
Shares | Value (000) | |||||||
Information Technology (continued) |
| |||||||
International Business Machines | 4,500 | $ | 826 | |||||
Juniper Networks | 9,600 | 355 | ||||||
NetApp | 3,500 | 305 | ||||||
Open Text | 4,100 | 179 | ||||||
Oracle | 3,700 | 413 | ||||||
|
| |||||||
6,196 | ||||||||
|
| |||||||
Materials (4.4%) | ||||||||
Berry Global Group | 3,100 | 203 | ||||||
Graphic Packaging Holding | 9,700 | 247 | ||||||
International Paper | 4,100 | 147 | ||||||
NewMarket | 800 | 446 | ||||||
Reliance Steel & Aluminum | 900 | 257 | ||||||
Sonoco Products | 2,300 | 131 | ||||||
|
| |||||||
1,431 | ||||||||
|
| |||||||
Utilities (6.4%) | ||||||||
American Electric Power | 2,200 | 172 | ||||||
Entergy | 2,900 | 290 | ||||||
Evergy | 4,200 | 213 | ||||||
Exelon | 3,800 | 132 | ||||||
National Fuel Gas | 5,200 | 245 | ||||||
Otter Tail | 3,300 | 299 | ||||||
PPL | 8,900 | 233 | ||||||
Public Service Enterprise Group | 2,900 | 168 | ||||||
Vistra | 6,500 | 267 | ||||||
|
| |||||||
2,019 | ||||||||
|
| |||||||
TOTAL COMMON STOCK | 31,662 | |||||||
|
| |||||||
Face Amount (000) | ||||||||
Repurchase Agreement (0.2%) |
| |||||||
South Street Securities 4.950%, dated 01/31/2024, to be repurchased on 02/01/2024, repurchase price $66 (collateralized by various U.S. Treasury obligations, ranging in par value $0 - $27, 0.375% - 4.500%, 04/30/2025 – 11/15/2033; total market value $67) | $ | 66 | 66 | |||||
|
| |||||||
TOTAL REPURCHASE AGREEMENT |
| 66 | ||||||
|
| |||||||
Total Investments – 99.6% | $ | 31,728 | ||||||
|
|
Percentages are based on Net Assets of $31,846 (000).
* | Non-income producing security. |
ADR — American Depositary Receipt
Cl — Class
LSV-QH-007-2000
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