Reinhart Mid Cap PMV Fund | ||||||||
Schedule of Investments | ||||||||
August 31, 2021 (Unaudited) | ||||||||
Description | Shares | Value | ||||||
COMMON STOCKS - 95.1% | ||||||||
Communication Services - 3.0% | ||||||||
Interpublic Group of Companies | 185,010 | $ | 6,887,922 | |||||
Consumer Discretionary - 6.4% | ||||||||
Aramark | 93,753 | 3,261,667 | ||||||
eBay | 67,120 | 5,150,789 | ||||||
LKQ * | 118,930 | 6,266,421 | ||||||
14,678,877 | ||||||||
Consumer Staples - 5.3% | ||||||||
BJ's Wholesale Club Holdings * | 117,000 | 6,629,220 | ||||||
Ingredion | 62,200 | 5,464,892 | ||||||
12,094,112 | ||||||||
Energy - 3.0% | ||||||||
Baker Hughes, Class A | 307,500 | 7,004,850 | ||||||
Financials - 21.4% | ||||||||
American Financial Group * | 37,000 | 5,103,780 | ||||||
BOK Financial | 69,041 | 6,079,060 | ||||||
Citizens Financial Group | 136,310 | 5,969,015 | ||||||
Fifth Third Bancorp | 81,310 | 3,159,706 | ||||||
Loews | 106,180 | 5,932,277 | ||||||
Northern Trust | 29,160 | 3,456,043 | ||||||
Progressive | 48,700 | 4,691,758 | ||||||
SEI Investments | 80,000 | 5,024,800 | ||||||
Signature Bank | 14,280 | 3,703,232 | ||||||
White Mountains Insurance Group | 5,333 | 5,977,280 | ||||||
49,096,951 | ||||||||
Health Care - 11.1% | ||||||||
Cerner | 64,550 | 4,928,393 | ||||||
Dentsply Sirona | 57,091 | 3,522,515 | ||||||
Encompass Health | 79,687 | 6,251,445 | ||||||
Universal Health Services, Class B | 33,040 | 5,146,310 | ||||||
Zimmer Biomet Holdings | 37,600 | 5,656,920 | ||||||
25,505,583 | ||||||||
Industrials - 15.2% | ||||||||
Allison Transmission Holdings | 158,840 | 5,873,903 | ||||||
AMERCO | 10,265 | 6,786,705 | ||||||
Carlisle Companies | 15,170 | 3,196,926 | ||||||
Curtiss-Wright | 36,000 | 4,384,080 | ||||||
General Dynamics | 27,230 | 5,454,441 | ||||||
Snap-on | 21,595 | 4,857,795 | ||||||
Stanley Black & Decker | 22,500 | 4,348,575 | ||||||
34,902,425 |
Information Technology - 8.2% | ||||||||
Citrix Systems | 44,460 | 4,573,600 | ||||||
Cognizant Technology Solutions, Class A | 76,560 | 5,842,294 | ||||||
Fidelity National Financial | 95,000 | 4,638,850 | ||||||
Sensata Technologies Holding plc * | 64,000 | 3,787,520 | ||||||
18,842,264 | ||||||||
Materials - 4.5% | ||||||||
FMC | 67,300 | 6,301,299 | ||||||
Sealed Air | 66,000 | 4,027,980 | ||||||
10,329,279 | ||||||||
Real Estate - 10.0% | ||||||||
American Campus Communities - REIT | 109,000 | 5,542,650 | ||||||
Americold Realty Trust - REIT | 117,000 | 4,298,580 | ||||||
Camden Property Trust - REIT | 20,795 | 3,120,082 | ||||||
Ventas - REIT | 101,920 | 5,701,405 | ||||||
Weyerhaeuser - REIT | 122,520 | 4,410,720 | ||||||
23,073,437 | ||||||||
Utilities - 7.0% | ||||||||
Avista | 110,517 | 4,625,136 | ||||||
UGI | 91,250 | 4,225,788 | ||||||
Vistra Energy | 373,710 | 7,134,124 | ||||||
15,985,048 | ||||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $160,725,323) | 218,400,748 | |||||||
SHORT-TERM INVESTMENT - 5.4% | ||||||||
First American Treasury Obligations Fund, Class X, 0.01% ^ | ||||||||
(Cost $12,448,501) | 12,448,501 | 12,448,501 | ||||||
Total Investments - 100.5% | ||||||||
(Cost $173,173,823) | 230,849,249 | |||||||
Other Assets and Liabilities, Net - (0.5)% | (1,180,979 | ) | ||||||
Total Net Assets - 100.0% | $ | 229,668,270 |
* Non-income producing security. | |||
^ The rate shown is the annualized seven-day effective yield as of August 31, 2021. | |||
REIT - Real Estate Investment Trust | |||
The Global Industry Classification Standard ("GICS"®) was developed by and is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI and S&P and has been licensed for use. |
Summary of Fair Value Exposure | |||||
The Fund has adopted fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosure about the various inputs and valuation techniques and related inputs during the period and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. | |||||
Level 1 - Quoted prices in active markets for identical assets or liabilities. | |||||
Level 2 - Observable inputs other than quoted prices included in Level 1. These inputs may include quoted prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. | |||||
Level 3 - Significant unobservable inputs for the asset or liability, representing the Fund's view of assumptions a market participant would use in valuing the asset or liability. | |||||
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. | |||||
The following table is a summary of the inputs used to value the Fund's securities by level within the fair value hierarchy as of August 31, 2021: |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks | $ | 218,400,748 | $ | - | $ | - | $ | 218,400,748 | ||||||||
Short-Term Investment | 12,448,501 | - | - | 12,448,501 | ||||||||||||
Total Investments | $ | 230,849,249 | $ | - | $ | - | $ | 230,849,249 |
Refer to Schedule of Investments for further information on the classification of investments. |