| | Shares | | | | Value |
| | | | UNAFFILIATED ISSUERS - 96.2% | | |
| | | | COMMON STOCKS - 95.8% of Net Assets |
| | | | Aerospace & Defense - 1.3% | |
| | 668,400 | | Singapore Technologies Engineering Ltd. | $1,665,317 |
| | | | Total Aerospace & Defense | | $1,665,317 |
| | | | Automobiles - 2.2% | |
| | 130,402 | | Fiat Chrysler Automobiles NV | $1,437,472 |
| | 22,100 | | Toyota Motor Corp. | 1,461,120 |
| | 2,731(a) | | XPeng, Inc. (A.D.R.) | 55,986 |
| | | | Total Automobiles | | $2,954,578 |
| | | | Banks - 7.3% | |
| | 149,098(a) | | ABN AMRO Bank NV (144A) | $1,420,028 |
| | 60,267 | | BNP Paribas S.A. | 2,626,243 |
| | 257,253(a) | | Grupo Financiero Banorte S.A.B de CV, Class O | 883,696 |
| | 201,500 | | ING Groep NV | 1,639,267 |
| | 92,095 | | KB Financial Group, Inc. | 2,852,296 |
| | | | Total Banks | | $9,421,530 |
| | | | Beverages - 0.9% | |
| | 33,000 | | Asahi Group Holdings, Ltd. | $1,153,977 |
| | | | Total Beverages | | $1,153,977 |
| | | | Building Products - 2.5% | |
| | 16,900 | | Daikin Industries, Ltd. | $3,179,078 |
| | | | Total Building Products | | $3,179,078 |
| | | | Capital Markets - 4.6% | |
| | 24,500 | | Euronext NV (144A) | $2,978,224 |
| | 241,796 | | UBS Group AG | 2,945,146 |
| | | | Total Capital Markets | | $5,923,370 |
| | | | Chemicals - 1.9% | |
| | 3,878 | | LG Chem, Ltd. | $2,401,467 |
| | | | Total Chemicals | | $2,401,467 |
| | | | Construction Materials - 1.7% | |
| | 59,171 | | CRH Plc | $2,239,445 |
| | | | Total Construction Materials | | $2,239,445 |
| | | | Containers & Packaging - 1.0% | |
| | 34,685 | | Smurfit Kappa Group Plc | $1,240,361 |
| | | | Total Containers & Packaging | | $1,240,361 |
| | | | Electrical Equipment - 4.6% | |
| | 122,300 | | Mitsubishi Electric Corp. | $1,679,829 |
| | 33,618 | | Schneider Electric SE | 4,169,110 |
| | | | Total Electrical Equipment | | $5,848,939 |
| | | | Electronic Equipment, Instruments & Components - 4.7% | |
| | 3,700 | | Keyence Corp. | $1,523,675 |
| | 14,300 | | Murata Manufacturing Co. Ltd. | 846,215 |
| | 53,285 | | Samsung Electronics Co., Ltd. | 2,423,711 |
| | 3,239 | | Samsung SDI Co. Ltd. | 1,231,269 |
| | | | Total Electronic Equipment, Instruments & Components | | $6,024,870 |
| | | | Energy - 1.1% | |
| | 268,558 | | Rosneft Oil Co. PJSC (G.D.R.) | $1,359,441 |
| | | | Total Energy | | $1,359,441 |
| | | | Food & Staples Retailing - 3.0% | |
| | 19,340 | | Magnit PJSC | $1,155,353 |
| | 82,000 | | Seven & i Holdings Co., Ltd. | 2,653,995 |
| | | | Total Food & Staples Retailing | | $3,809,348 |
| | | | Food Products - 3.4% | |
| | 17,490 | | Danone S.A. | $1,151,036 |
| | 23,857 | | Kerry Group Plc | 3,161,521 |
| | | | Total Food Products | | $4,312,557 |
| | | | Health Care Equipment & Supplies - 6.3% | |
| | 32,100 | | Hoya Corp. | $3,153,816 |
| | 69,379 | | Koninklijke Philips NV | 3,280,894 |
| | 15,553 | | Medtronic Plc | 1,671,481 |
| | | | Total Health Care Equipment & Supplies | | $8,106,191 |
| | | | Health Care Providers & Services - 1.5% | |
| | 42,355 | | Fresenius SE & Co. KGaA | $1,955,260 |
| | | | Total Health Care Providers & Services | | $1,955,260 |
| | | | Household Durables - 3.6% | |
| | 54,658 | | Persimmon Plc | $1,913,616 |
| | 33,800 | | Sony Corp. | 2,645,925 |
| | | | Total Household Durables | | $4,559,541 |
| | | | Household Products - 2.1% | |
| | 29,600 | | Henkel AG & Co. KGaA | $2,657,831 |
| | | | Total Household Products | | $2,657,831 |
| | | | Industrial Conglomerates - 1.4% | |
| | 13,393 | | Siemens AG | $1,848,566 |
| | | | Total Industrial Conglomerates | | $1,848,566 |
| | Shares | | | | Value |
| | | | Industrials - 0.9% | |
| | 6,031 | | Kansas City Southern | $1,097,883 |
| | | | Total Industrials | | $1,097,883 |
| | | | Insurance - 6.2% | |
| | 11,582 | | Allianz SE | $2,508,475 |
| | 292,500 | | Ping An Insurance Group Co. of China, Ltd., Class H | 3,099,360 |
| | 6,340 | | Zurich Insurance Group AG | 2,347,126 |
| | | | Total Insurance | | $7,954,961 |
| | | | Interactive Media & Services - 0.5% | |
| | 9,400 | | Tencent Holdings, Ltd. | $ 640,591 |
| | | | Total Interactive Media & Services | | $ 640,591 |
| | | | Internet & Direct Marketing Retail - 2.4% | |
| | 86,100(a) | | Alibaba Group Holding, Ltd. | $3,097,721 |
| | | | Total Internet & Direct Marketing Retail | | $3,097,721 |
| | | | IT Services - 1.1% | |
| | 21,592 | | Cognizant Technology Solutions Corp. | $1,443,641 |
| | | | Total IT Services | | $1,443,641 |
| | | | Life Sciences Tools & Services - 2.3% | |
| | 4,685 | | Lonza Group AG | $2,904,700 |
| | | | Total Life Sciences Tools & Services | | $2,904,700 |
| | | | Media - 0.6% | |
| | 909,178 | | ITV Plc | $ 738,288 |
| | | | Total Media | | $ 738,288 |
| | | | Metals & Mining - 1.6% | |
| | 32,958 | | Rio Tinto Plc | $2,022,084 |
| | | | Total Metals & Mining | | $2,022,084 |
| | | | Multi-Utilities - 1.9% | |
| | 60,822 | | RWE AG | $2,411,639 |
| | | | Total Multi-Utilities | | $2,411,639 |
| | | | Oil, Gas & Consumable Fuels - 0.4% | |
| | 7,656 | | LUKOIL PJSC (A.D.R.) | $ 514,713 |
| | | | Total Oil, Gas & Consumable Fuels | | $ 514,713 |
| | | | Personal Products - 4.2% | |
| | 5,885 | | L'Oreal S.A. | $1,946,883 |
| | 59,063 | | Unilever NV | 3,425,731 |
| | | | Total Personal Products | | $5,372,614 |
| | | | Pharmaceuticals - 5.8% | |
| | 20,592 | | AstraZeneca Plc | $2,295,459 |
| | 15,100 | | Eisai Co., Ltd. | 1,318,174 |
| | 11,050 | | Roche Holding AG | 3,864,082 |
| | | | Total Pharmaceuticals | | $7,477,715 |
| | | | Real Estate Management & Development - 1.4% | |
| | 72,391 | | Grand City Properties S.A. | $1,858,640 |
| | | | Total Real Estate Management & Development | | $1,858,640 |
| | | | Semiconductors & Semiconductor Equipment - 2.5% | |
| | 17,872 | | SK Hynix, Inc. | $1,124,963 |
| | 144,000 | | Taiwan Semiconductor Manufacturing Co., Ltd. | 2,092,632 |
| | | | Total Semiconductors & Semiconductor Equipment | | $3,217,595 |
| | | | Software - 1.1% | |
| | 24,187 | | Oracle Corp. | $1,383,980 |
| | | | Total Software | | $1,383,980 |
| | | | Textiles, Apparel & Luxury Goods - 1.8% | |
| | 3,744(a) | | adidas AG | $1,133,570 |
| | 2,488 | | LVMH Moet Hennessy Louis Vuitton SE | 1,168,082 |
| | | | Total Textiles, Apparel & Luxury Goods | | $2,301,652 |
| | | | Trading Companies & Distributors - 4.0% | |
| | 71,273 | | Ashtead Group Plc | $2,483,006 |
| | 27,602 | | Ferguson Plc | 2,722,742 |
| | | | Total Trading Companies & Distributors | | $5,205,748 |
| | | | Wireless Telecommunication Services - 2.0% | |
| | 88,700 | | KDDI Corp. | $2,573,203 |
| | | | Total Wireless Telecommunication Services | | $2,573,203 |
| | | | TOTAL COMMON STOCKS | |
| | | | (Cost $102,313,382) | $122,879,035 |
| | Principal
Amount
USD ($) | | | | Value |
| | | | U.S. GOVERNMENT AND AGENCY OBLIGATION - 0.4% of Net Assets |
| | 500,000(b) | | United States Treasury Bill, 9/17/20 | $ 499,980 |
| | | | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATION | |
| | | | (Cost $499,968) | $ 499,980 |
| | | | TOTAL INVESTMENTS IN UNAFFILIATED ISSUERS - 96.2% | |
| | | | (Cost $102,813,350)(c) | $123,379,015 |
| | | | OTHER ASSETS AND LIABILITIES - 3.8% | $4,892,047 |
| | | | NET ASSETS - 100.0% | $128,271,062 |
Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels below. | |
| | |
| Level 1 - quoted prices in active markets for identical securities. | |
| Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). | |
| Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments). | |
| | |
The following is a summary of the inputs used as of August 31, 2020, in valuing the Fund's investments: | |
| | |
| | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
Common Stocks | | | | | | | | | | | | |
| Automobiles | | $ | 55,986 | | | $ | 2,898,592 | | | $ | – | | | $ | 2,954,578 | |
| Health Care Equipment & Supplies | | | 1,671,481 | | | | 6,434,710 | | | | – | | | | 8,106,191 | |
| Industrials | | | 1,097,883 | | | | – | | | | – | | | | 1,097,883 | |
| IT Services | | | 1,443,641 | | | | – | | | | – | | | | 1,443,641 | |
| Oil, Gas & Consumable Fuels | | | 514,713 | | | | – | | | | – | | | | 514,713 | |
| Software | | | 1,383,980 | | | | – | | | | – | | | | 1,383,980 | |
| All Other Common Stocks* | | | – | | | | 107,378,049 | | | | – | | | | 107,378,049 | |
U.S. Government and Agency Obligation | | | – | | | | 499,980 | | | | – | | | | 499,980 | |
| Total Investments in Securities | | $ | 6,167,684 | | | $ | 117,211,331 | | | $ | – | | | $ | 123,379,015 | |
| | |
* Securities are valued using inputs/data furnished by independent pricing services using fair value factors.
For the nine months ended August 31, 2020 there were no transfers between Levels 1, 2 and 3.
