Frontier MFG Global Equity Fund | |||||||
SCHEDULE OF INVESTMENTS | |||||||
March 31, 2021 (Unaudited) | |||||||
Number of Shares | Value | ||||||
COMMON STOCKS 94.9% | |||||||
China 10.1% | |||||||
286,924 | Alibaba Group Holding Ltd. - ADR (a) | $ | 65,054,279 | ||||
810,346 | Tencent Holdings Ltd. | 63,584,345 | |||||
128,638,624 | |||||||
France 1.5% | |||||||
28,482 | LVMH Moet Hennessy Louis Vuitton SE | 18,975,085 | |||||
Germany 4.0% | |||||||
416,132 | SAP SE | 50,956,930 | |||||
Switzerland 7.1% | |||||||
371,303 | Nestle SA | 41,382,911 | |||||
565,055 | Novartis AG | 48,288,094 | |||||
89,671,005 | |||||||
United Kingdom 4.2% | |||||||
598,322 | Reckitt Benckiser Group PLC | 53,598,803 | |||||
United States 68.0% | |||||||
5,687 | Alphabet, Inc. - Class A (a) | 11,729,551 | |||||
36,363 | Alphabet, Inc. - Class C (a) | 75,221,593 | |||||
280,089 | Crown Castle International Corp. | 48,211,720 | |||||
490,769 | Eversource Energy | 42,495,688 | |||||
250,453 | Facebook, Inc. - Class A (a) | 73,765,922 | |||||
459,140 | Intercontinental Exchange, Inc. | 51,276,755 | |||||
127,333 | Mastercard, Inc. - Class A | 45,336,915 | |||||
134,428 | McDonald's Corp. | 30,130,692 | |||||
393,315 | Microsoft Corp. | 92,731,877 | |||||
105,786 | Netflix, Inc. (a) | 55,184,325 | |||||
367,162 | PepsiCo, Inc. | 51,935,065 | |||||
647,427 | Starbucks Corp. | 70,744,348 | |||||
79,345 | The Estee Lauder Companies, Inc. - Class A | 23,077,493 | |||||
266,626 | Visa, Inc. - Class A | 56,452,723 | |||||
460,764 | WEC Energy Group, Inc. | 43,122,903 | |||||
678,746 | Xcel Energy, Inc. | 45,143,396 | |||||
451,722 | Yum! Brands, Inc. | 48,867,286 | |||||
865,428,252 | |||||||
Total Common Stocks | |||||||
(Cost $757,466,147) | 1,207,268,699 | ||||||
SHORT-TERM INVESTMENTS 5.0% | |||||||
Money Market Deposit Account 5.0% | |||||||
64,213,072 | U.S. Bank N.A., 0.004% (b) | 64,213,072 | |||||
Total Short-Term Investments | |||||||
(Cost $64,213,072) | 64,213,072 | ||||||
Total Investments 99.9% | |||||||
(Cost $821,679,219) | 1,271,481,771 | ||||||
Other Assets in Excess of Liabilities 0.1% | 1,222,586 | ||||||
TOTAL NET ASSETS 100.0% | $ | 1,272,704,357 |
(a) Non-Income Producing. | ||||
(b) The Money Market Deposit Account ("MMDA") is a short-term investment vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and may change daily and by any amount. The rate shown is as of March 31, 2021. | ||||
ADR - American Depositary Receipt |
Frontier MFG Global Plus Fund | |||||||
SCHEDULE OF INVESTMENTS | |||||||
March 31, 2021 (Unaudited) | |||||||
Number of Shares | Value | ||||||
COMMON STOCKS 94.0% | |||||||
China 10.0% | |||||||
139,610 | Alibaba Group Holding Ltd. - ADR (a) | $ | 31,653,775 | ||||
394,719 | Tencent Holdings Ltd. | 30,971,893 | |||||
62,625,668 | |||||||
France 1.5% | |||||||
13,767 | LVMH Moet Hennessy Louis Vuitton SE | 9,171,757 | |||||
Germany 4.0% | |||||||
201,547 | SAP SE | 24,680,189 | |||||
Switzerland 6.9% | |||||||
179,365 | Nestle SA | 19,990,805 | |||||
272,890 | Novartis AG | 23,320,452 | |||||
43,311,257 | |||||||
United Kingdom 4.2% | |||||||
289,606 | Reckitt Benckiser Group PLC | 25,943,446 | |||||
United States 67.4% | |||||||
2,730 | Alphabet, Inc. - Class A (a) | 5,630,680 | |||||
17,749 | Alphabet, Inc. - Class C (a) | 36,716,114 | |||||
135,438 | Crown Castle International Corp. | 23,312,943 | |||||
239,250 | Eversource Energy | 20,716,658 | |||||
121,893 | Facebook, Inc. - Class A (a) | 35,901,145 | |||||
222,015 | Intercontinental Exchange, Inc. | 24,794,635 | |||||
61,644 | Mastercard, Inc. - Class A | 21,948,346 | |||||
65,048 | McDonald's Corp. | 14,579,859 | |||||
191,261 | Microsoft Corp. | 45,093,606 | |||||
51,622 | Netflix, Inc. (a) | 26,929,133 | |||||
179,501 | PepsiCo, Inc. | 25,390,417 | |||||
315,319 | Starbucks Corp. | 34,454,907 | |||||
38,859 | The Estee Lauder Companies, Inc. - Class A | 11,302,140 | |||||
129,009 | Visa, Inc. - Class A | 27,315,076 | |||||
224,812 | WEC Energy Group, Inc. | 21,040,155 | |||||
330,221 | Xcel Energy, Inc. | 21,962,998 | |||||
218,488 | Yum! Brands, Inc. | 23,636,032 | |||||
420,724,844 | |||||||
Total Common Stocks | |||||||
(Cost $414,232,311) | 586,457,161 | ||||||
SHORT-TERM INVESTMENTS 5.7% | |||||||
Money Market Deposit Account 5.7% | |||||||
35,285,448 | U.S. Bank N.A., 0.004% (b) | 35,285,448 | |||||
Total Short-Term Investments | |||||||
(Cost $35,285,448) | 35,285,448 | ||||||
Total Investments 99.7% | |||||||
(Cost $449,517,759) | 621,742,609 | ||||||
Other Assets in Excess of Liabilities 0.3% | 1,630,264 | ||||||
TOTAL NET ASSETS 100.0% | $ | 623,372,873 |
(a) Non-Income Producing. | ||||
(b) The Money Market Deposit Account ("MMDA") is a short-term investment vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and may change daily and by any amount. The rate shown is as of March 31, 2021. | ||||
ADR - American Depositary Receipt |
Frontier MFG Global Sustainable Fund | |||||||
SCHEDULE OF INVESTMENTS | |||||||
March 31, 2021 (Unaudited) | |||||||
Number of Shares | Value | ||||||
COMMON STOCKS 89.8% | |||||||
China 7.7% | |||||||
4,586 | Alibaba Group Holding Ltd. - ADR (a) | $ | 1,039,784 | ||||
10,946 | Tencent Holdings Ltd. | 858,885 | |||||
1,898,669 | |||||||
France 2.0% | |||||||
7,249 | Danone SA | 497,305 | |||||
Germany 3.0% | |||||||
6,038 | SAP SE | 739,376 | |||||
Italy 2.2% | |||||||
70,162 | Terna Rete Elettrica Nazionale SpA | 529,714 | |||||
Spain 3.1% | |||||||
42,452 | Red Electrica Corp SA | 751,733 | |||||
Switzerland 6.8% | |||||||
6,938 | Nestle SA | 773,261 | |||||
10,400 | Novartis AG | 888,756 | |||||
1,662,017 | |||||||
United Kingdom 7.5% | |||||||
10,954 | Reckitt Benckiser Group PLC | 981,280 | |||||
15,347 | Unilever PLC | 856,321 | |||||
1,837,601 | |||||||
United States 57.5% | |||||||
885 | Alphabet, Inc. - Class C (a) | 1,830,737 | |||||
227 | Amazon.com, Inc. (a) | 702,356 | |||||
5,074 | American Water Works Co., Inc. | 760,694 | |||||
591 | Chipotle Mexican Grill, Inc. (a) | 839,705 | |||||
1,602 | CME Group, Inc. | 327,176 | |||||
6,929 | Eversource Energy | 599,982 | |||||
5,098 | Facebook, Inc. - Class A (a) | 1,501,514 | |||||
5,377 | Intercontinental Exchange, Inc. | 600,504 | |||||
1,799 | Mastercard, Inc. - Class A | 640,534 | |||||
7,469 | Microsoft Corp. | 1,760,966 | |||||
924 | Netflix, Inc. (a) | 482,014 | |||||
4,987 | PepsiCo, Inc. | 705,411 | |||||
8,088 | Starbucks Corp. | 883,776 | |||||
3,353 | Visa, Inc. - Class A | 709,931 | |||||
3,337 | Walmart, Inc. | 453,265 | |||||
19,556 | Wells Fargo & Co. | 764,053 | |||||
5,439 | Yum! Brands, Inc. | 588,391 | |||||
14,151,009 | |||||||
Total Common Stocks | |||||||
(Cost $19,380,384) | 22,067,424 | ||||||
SHORT-TERM INVESTMENTS 10.0% | |||||||
Money Market Deposit Account 10.0% | |||||||
2,464,538 | U.S. Bank N.A., 0.004% (b) | 2,464,538 | |||||
Total Short-Term Investments | |||||||
(Cost $2,464,538) | 2,464,538 | ||||||
Total Investments 99.8% | |||||||
(Cost $21,844,922) | 24,531,962 | ||||||
Other Assets in Excess of Liabilities 0.2% | 57,677 | ||||||
TOTAL NET ASSETS 100.0% | $ | 24,589,639 |
(a) Non-Income Producing. | |
(b) The Money Market Deposit Account ("MMDA") is a short-term investment vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and may change daily and by any amount. The rate shown is as of March 31, 2021. | |
ADR - American Depositary Receipt |
Frontier MFG Core Infrastructure Fund | |||||||
SCHEDULE OF INVESTMENTS | |||||||
March 31, 2021 (Unaudited) | |||||||
Number of Shares | Value | ||||||
COMMON STOCKS 98.0% | |||||||
Australia 7.7% | |||||||
1,202,615 | APA Group | $ | 9,152,724 | ||||
1,018,712 | Atlas Arteria Ltd. | 4,603,885 | |||||
3,719,890 | AusNet Services | 5,184,683 | |||||
1,830,305 | Spark Infrastructure Group | 3,016,750 | |||||
2,827,102 | Sydney Airport | 13,291,934 | |||||
2,154,664 | Transurban Group | 21,799,163 | |||||
57,049,139 | |||||||
Canada 14.1% | |||||||
625,367 | Algonquin Power & Utilities Corp. | 9,907,740 | |||||
195,998 | Canadian Utilities Ltd. - Class A | 5,262,173 | |||||
259,381 | Emera, Inc. | 11,543,868 | |||||
604,682 | Enbridge, Inc. | 22,027,804 | |||||
474,794 | Fortis, Inc. | 20,601,987 | |||||
625,924 | Hydro One Ltd. | 14,578,496 | |||||
471,680 | TC Energy Corp. | 21,622,889 | |||||
105,544,957 | |||||||
Chile 0.3% | |||||||
6,320,474 | Aguas Andinas SA - Class A | 1,955,444 | |||||
France 5.7% | |||||||
103,646 | Aeroports de Paris | 12,385,547 | |||||
587,485 | Getlink SE (a) | 9,011,415 | |||||
206,484 | Vinci SA | 21,153,756 | |||||
42,550,718 | |||||||
Germany 0.8% | |||||||
99,451 | Fraport AG Frankfurt Airport Services Worldwide (a) | 6,047,089 | |||||
Hong Kong 1.7% | |||||||
2,199,573 | Power Assets Holdings Ltd | 12,986,764 | |||||
Italy 7.0% | |||||||
223,903 | ACEA SpA | 4,894,341 | |||||
152,518 | ASTM SpA (a) | 4,614,549 | |||||
593,801 | Enav SpA | 2,888,472 | |||||
802,014 | Italgas SpA | 5,205,807 | |||||
3,455,996 | Snam SpA | 19,161,926 | |||||
2,073,329 | Terna Rete Elettrica Nazionale SpA | 15,653,363 | |||||
52,418,458 | |||||||
Mexico 1.8% | |||||||
328,192 | Grupo Aeroportuario del Centro Norte SAB de CV (a) | 2,070,358 | |||||
511,342 | Grupo Aeroportuario del Pacifico SAB de CV - Class B | 5,337,700 | |||||
285,179 | Grupo Aeroportuario del Sureste SAB de CV - Class B (a) | 5,064,702 | |||||
322,178 | Infraestructura Energetica Nova SAB de CV | 1,245,239 | |||||
13,717,999 | |||||||
Netherlands 0.9% | |||||||
126,710 | Koninklijke Vopak NV | 6,307,787 | |||||
New Zealand 1.5% | |||||||
1,459,588 | Auckland International Airport Ltd. | 7,991,933 | |||||
1,046,972 | Vector Ltd. | 2,961,390 | |||||
10,953,323 | |||||||
Portugal 0.2% | |||||||
623,151 | REN - Redes Energeticas Nacionais SGPS SA | 1,739,237 | |||||
Spain 8.1% | |||||||
126,085 | Aena SME SA (a) | 20,449,094 | |||||
419,672 | Cellnex Telecom SA | 24,164,619 | |||||
259,682 | Enagas SA | 5,639,898 | |||||
579,173 | Red Electrica Corp SA | 10,255,898 | |||||
60,509,509 | |||||||
Switzerland 0.7% | |||||||
32,627 | Flughafen Zuerich AG (a) | 5,361,025 | |||||
United Kingdom 6.2% | |||||||
1,908,633 | National Grid PLC | 22,734,038 | |||||
418,216 | Pennon Group PLC | 5,621,415 | |||||
259,571 | Severn Trent PLC | 8,251,937 | |||||
733,181 | United Utilities Group PLC | 9,357,693 | |||||
45,965,083 | |||||||
United States 41.3% | |||||||
22,692 | ALLETE, Inc. | 1,524,676 | |||||
109,603 | Alliant Energy Corp. | 5,936,099 | |||||
114,703 | Ameren Corp. | 9,332,236 | |||||
190,987 | American Electric Power Co., Inc. | 16,176,599 | |||||
12,310 | American States Water Co. | 930,882 | |||||
69,422 | American Tower Corp. | 16,596,023 | |||||
83,394 | American Water Works Co., Inc. | 12,502,429 | |||||
61,189 | Atmos Energy Corp. | 6,048,533 | |||||
143,530 | Avangrid, Inc. | 7,149,229 | |||||
24,153 | Avista Corp. | 1,153,306 | |||||
26,882 | Black Hills Corp. | 1,794,911 | |||||
15,472 | California Water Service Group | 871,693 | |||||
125,238 | CMS Energy Corp. | 7,667,070 | |||||
156,036 | Consolidated Edison, Inc. | 11,671,493 | |||||
99,919 | Crown Castle International Corp. | 17,199,058 | |||||
210,464 | Dominion Energy Corp. | 15,986,845 | |||||
89,001 | DTE Energy Co. | 11,849,593 | |||||
169,338 | Duke Energy Corp. | 16,346,197 | |||||
91,227 | Entergy Corp. | 9,074,350 | |||||
106,793 | Essential Utilities, Inc. | 4,778,987 | |||||
98,865 | Evergy, Inc. | 5,885,433 | |||||
151,726 | Eversource Energy | 13,137,954 | |||||
247,534 | FirstEnergy Corp. | 8,586,955 | |||||
20,846 | IDACORP, Inc. | 2,083,975 | |||||
17,062 | MGE Energy, Inc. | 1,218,056 | |||||
178,557 | NiSource, Inc. | 4,305,009 | |||||
8,491 | Northwest Natural Holding Co. | 458,089 | |||||
23,320 | NorthWestern Corp. | 1,520,464 | |||||
23,234 | ONE Gas, Inc. | 1,786,927 | |||||
49,141 | Pinnacle West Capital Corp. | 3,997,620 | |||||
34,126 | PNM Resources, Inc. | 1,673,880 | |||||
41,267 | Portland General Electric Co. | 1,958,945 | |||||
350,412 | PPL Corp. | 10,105,882 | |||||
48,359 | SBA Communications Corp. | 13,422,040 | |||||
120,214 | Sempra Energy | 15,937,972 | |||||
8,232 | SJW Group | 518,534 | |||||
28,661 | South Jersey Industries, Inc. | 647,165 | |||||
23,815 | Spire, Inc. | 1,759,690 | |||||
258,649 | The Southern Co. | 16,077,622 | |||||
139,415 | WEC Energy Group, Inc. | 13,047,850 | |||||
237,629 | Xcel Energy, Inc. | 15,804,705 | |||||
308,524,976 | |||||||
Total Common Stocks | |||||||
(Cost $603,919,124) | 731,631,508 | ||||||
CLOSED-END FUNDS 1.1% | |||||||
United Kingdom 1.1% | |||||||
2,019,139 | HICL Infrastructure PLC (a) | 4,592,938 | |||||
1,696,810 | International Public Partnerships Ltd. (a) | 3,934,591 | |||||
8,527,529 | |||||||
Total Closed-End Funds | |||||||
(Cost $7,214,413) | 8,527,529 | ||||||
RIGHTS 0.0% | |||||||
Italy 0.0% | |||||||
3,591,691 | Snam SpA | - | |||||
Total Rights | |||||||
(Cost $0) | - | ||||||
SHORT-TERM INVESTMENTS 1.1% | |||||||
Money Market Deposit Account 1.1% | |||||||
8,005,340 | U.S. Bank N.A., 0.004% (b) | 8,005,340 | |||||
Total Short-Term Investments | |||||||
(Cost $8,005,340) | 8,005,340 | ||||||
Total Investments 100.2% | |||||||
(Cost $619,138,877) | 748,164,377 | ||||||
Liabilities in Excess of Other Assets (0.2)% | (1,392,648 | ) | |||||
TOTAL NET ASSETS 100.0% | $ | 746,771,729 |
(a) Non-Income Producing. | |
(b) The Money Market Deposit Account ("MMDA") is a short-term investment vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and may change daily and by any amount. The rate shown is as of March 31, 2021. |
Frontier MFG Select Infrastructure Fund | |||||||
SCHEDULE OF INVESTMENTS | |||||||
March 31, 2021 (Unaudited) | |||||||
Number of Shares | Value | ||||||
COMMON STOCKS 94.5% | |||||||
Australia 15.9% | |||||||
249,200 | APA Group | $ | 1,896,583 | ||||
845,958 | Atlas Arteria Ltd. | 3,823,154 | |||||
548,047 | AusNet Services | 763,853 | |||||
1,840,556 | Spark Infrastructure Group | 3,033,645 | |||||
256,106 | Sydney Airport | 1,204,111 | |||||
760,042 | Transurban Group | 7,689,496 | |||||
18,410,842 | |||||||
Canada 5.0% | |||||||
159,371 | Enbridge, Inc. | 5,805,685 | |||||
France 4.8% | |||||||
2,350 | Aeroports de Paris | 280,822 | |||||
51,462 | Vinci SA | 5,272,150 | |||||
5,552,972 | |||||||
Italy 5.0% | |||||||
19,025 | ASTM SpA (a) | 575,616 | |||||
531,910 | Snam SpA | 2,949,199 | |||||
302,739 | Terna Rete Elettrica Nazionale SpA | 2,285,640 | |||||
5,810,455 | |||||||
Netherlands 1.4% | |||||||
32,321 | Koninklijke Vopak NV | 1,608,981 | |||||
New Zealand 1.1% | |||||||
243,174 | Auckland International Airport Ltd. | 1,331,492 | |||||
Spain 7.8% | |||||||
27,984 | Aena SME SA (a) | 4,538,584 | |||||
255,091 | Red Electrica Corp SA | 4,517,109 | |||||
9,055,693 | |||||||
United Kingdom 6.0% | |||||||
284,543 | National Grid PLC | 3,389,238 | |||||
284,820 | United Utilities Group PLC | 3,635,198 | |||||
7,024,436 | |||||||
United States 47.5% | |||||||
36,636 | Alliant Energy Corp. | 1,984,206 | |||||
21,360 | American Tower Corp. | 5,106,322 | |||||
23,139 | American Water Works Co., Inc. | 3,468,999 | |||||
61,704 | Atmos Energy Corp. | 6,099,441 | |||||
30,162 | Crown Castle International Corp. | 5,191,785 | |||||
39,718 | CSX Corp. | 3,829,610 | |||||
69,741 | Evergy, Inc. | 4,151,682 | |||||
59,357 | Eversource Energy | 5,139,722 | |||||
16,849 | Norfolk Southern Corp. | 4,524,293 | |||||
40,806 | Sempra Energy | 5,410,059 | |||||
5,190 | Union Pacific Corp. | 1,143,928 | |||||
48,242 | WEC Energy Group, Inc. | 4,514,969 | |||||
69,312 | Xcel Energy, Inc. | 4,609,940 | |||||
55,174,956 | |||||||
Total Common Stocks | |||||||
(Cost $97,886,194) | 109,775,512 | ||||||
RIGHTS 0.0% | |||||||
Italy 0.0% | |||||||
522,224 | Snam SpA | - | |||||
Total Rights | |||||||
(Cost $0) | - | ||||||
SHORT-TERM INVESTMENTS 4.8% | |||||||
Money Market Deposit Account 4.8% | |||||||
5,535,105 | U.S. Bank N.A., 0.004% (b) | 5,535,105 | |||||
Total Short-Term Investments | |||||||
(Cost $5,535,105) | 5,535,105 | ||||||
Total Investments 99.3% | |||||||
(Cost $103,421,299) | 115,310,617 | ||||||
Other Assets in Excess of Liabilities 0.7% | 786,969 | ||||||
TOTAL NET ASSETS 100.0% | $ | 116,097,586 |
(a) Non-Income Producing. | |||||||
(b) The Money Market Deposit Account ("MMDA") is a short-term investment vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and may change daily and by any amount. The rate shown is as of March 31, 2021. |
Investment Valuation – Securities are valued at their fair value. Equity securities, including preferred stocks, that are traded on a national securities exchange, except for those traded on NASDAQ Global Market, NASDAQ Global Select Market and NASDAQ Capital Market exchanges (together, "NASDAQ"), for which market quotations are readily available are valued at the last reported sale price on the national securities exchange on which such securities are principally traded. Equity securities that are traded on NASDAQ are valued using the NASDAQ Official Closing Price ("NOCP"). Equity securities for which there were no transactions on a given day or securities not listed on a national securities exchange are valued at the most recent quoted bid price. Debt securities are valued at the bid price provided by an independent pricing service, which uses valuation methods such as matrix pricing and other analytical pricing models, as well as market transactions and other market inputs. Shares of underlying mutual funds are valued at their respective Net Asset Value ("NAV"). Deposit accounts are valued at acquisition cost which approximates fair value. Exchange-traded funds and closed-end funds are valued at the last reported sale price on the exchange on which the security is principally traded. Securities that are primarily traded on foreign exchanges generally are valued at the last sale price of such securities on their respective exchange. In the case of foreign securities, the occurrence of events after the close of the foreign markets, but prior to the time a Fund's NAV is calculated, will result in a systematic fair value adjustment to the trading prices of foreign securities provided that there is a movement in the markets that exceeds a threshold established by the Board of Directors (the "Board") and provided the fair value prices exceed a pre-established confidence level. The Funds will also value foreign securities at fair value using fair valuation procedures approved by the Board in the case of other significant events relating to a particular foreign issuer or market. In such cases, use of fair valuation can reduce an investor's ability to seek to profit by estimating the Fund's NAV in advance of the time the NAV is calculated. The Board has retained an independent fair value pricing service to assist in valuing foreign securities held by the Funds. In valuing assets, prices denominated in foreign currencies are converted to U.S. dollar equivalents at the current exchange rate, which approximates fair value. Any securities or other assets for which market quotations are not readily available are valued at their fair value as determined in good faith by the Adviser or subadvisers pursuant to guidelines established by the Board. The Board has appointed a Valuation Committee to assist the Board in its oversight of the Funds' valuation procedures.
The Funds follow a fair value hierarchy that distinguishes between market data obtained from independent sources (observable inputs) and the Funds' own market assumptions (unobservable inputs). These inputs are used in determining the value of each Fund's investments and are summarized in the following fair value hierarchy:
Level 1 — Quoted prices in active markets for identical securities that the Funds have the ability to access
Level 2 — Evaluated prices based on other significant observable inputs (including quoted prices for similar securities, foreign security indices, foreign exchange rates, fair value estimates for foreign securities and changes in benchmark securities indices)
Level 3 — Significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments)
The following is a summary of inputs used to value the Funds’ securities as of March 31, 2021:
Global Equity Fund | ||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Equity (a) | ||||||||||||||||
Common Stocks | $ | 1,207,268,699 | $ | - | $ | - | $ | 1,207,268,699 | ||||||||
Total Equity | 1,207,268,699 | - | - | 1,207,268,699 | ||||||||||||
Short-Term Investments | 64,213,072 | - | - | 64,213,072 | ||||||||||||
Total Investments in Securities | $ | 1,271,481,771 | $ | - | $ | - | $ | 1,271,481,771 | ||||||||
Global Plus Fund | ||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Equity (a) | ||||||||||||||||
Common Stocks | $ | 586,457,161 | $ | - | $ | - | $ | 586,457,161 | ||||||||
Total Equity | 586,457,161 | - | - | 586,457,161 | ||||||||||||
Short-Term Investments | 35,285,448 | - | - | 35,285,448 | ||||||||||||
Total Investments in Securities | $ | 621,742,609 | $ | - | $ | - | $ | 621,742,609 | ||||||||
Global Sustainable Fund | ||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Equity (a) | ||||||||||||||||
Common Stocks | $ | 22,067,424 | $ | - | $ | - | $ | 22,067,424 | ||||||||
Total Equity | 22,067,424 | - | - | 22,067,424 | ||||||||||||
Short-Term Investments | 2,464,538 | - | - | 2,464,538 | ||||||||||||
Total Investments in Securities | $ | 24,531,962 | $ | - | $ | - | $ | 24,531,962 | ||||||||
Core Fund | ||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Equity (a) | ||||||||||||||||
Common Stocks | $ | 731,631,508 | $ | - | $ | - | $ | 731,631,508 | ||||||||
Closed-End Funds | 8,527,529 | - | - | 8,527,529 | ||||||||||||
Total Equity | 740,159,037 | - | - | 740,159,037 | ||||||||||||
Rights | - | - | - | - | ||||||||||||
Short-Term Investments | 8,005,340 | - | - | 8,005,340 | ||||||||||||
Total Investments in Securities | $ | 748,164,377 | $ | - | $ | - | $ | 748,164,377 | ||||||||
Select Fund | ||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Equity (a) | ||||||||||||||||
Common Stocks | $ | 109,775,512 | $ | - | $ | - | $ | 109,775,512 | ||||||||
Total Equity | 109,775,512 | - | - | 109,775,512 | ||||||||||||
Rights | - | - | - | - | ||||||||||||
Short-Term Investments | 5,535,105 | - | - | 5,535,105 | ||||||||||||
Total Investments in Securities | $ | 115,310,617 | $ | - | $ | - | $ | 115,310,617 | ||||||||
(a) See each Fund's Schedule of Investments for sector or country classifications. |
Tax Disclosure - Each Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended, necessary to qualify as a regulated investment company and to make the requisite distributions of income and capital gains to its shareholders sufficient to relieve it from all or substantially all federal income taxes. Therefore, no federal income tax provision has been provided.
The Funds have adopted financial reporting rules regarding recognition and measurement of tax positions taken or expected to be taken on a tax return. The Funds recognize interest and penalties, if any, as income tax expense on the Statements of Operations. During the period, the Funds did not incur any interest or penalties. The Funds have reviewed all open tax years and concluded that there is no effect to any of the Fund's financial positions or results of operations and no tax liability resulting from unrecognized tax benefits relating to uncertain income tax positions taken or expected to be taken on a tax return. The Funds have no examinations in progress.