VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS
As of December 31, 2021 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS — 92.1% | |||
BASIC MATERIALS — 6.6% | |||
AdvanSix, Inc. | 7,720 | $364,770 | |
Alcoa Corp. | 31,220 | 1,860,088 | |
Allegheny Technologies, Inc.* | 7,265 | 115,731 | |
American Vanguard Corp. | 5,055 | 82,851 | |
Arconic Corp.* | 3,932 | 129,795 | |
Ashland Global Holdings, Inc. | 810 | 87,205 | |
Cabot Corp. | 1,630 | 91,606 | |
Carpenter Technology Corp. | 3,410 | 99,538 | |
Century Aluminum Co.* | 5,415 | 89,672 | |
Chemours Co. | 8,300 | 278,548 | |
Clearwater Paper Corp.* | 2,430 | 89,108 | |
Cleveland-Cliffs, Inc.* | 21,011 | 457,409 | |
Commercial Metals Co. | 24,280 | 881,121 | |
Ecovyst, Inc. | 2,960 | 30,310 | |
Element Solutions, Inc. | 54,790 | 1,330,301 | |
Friedman Industries, Inc. | 2,150 | 20,167 | |
Glatfelter Corp. | 11,040 | 189,888 | |
H.B. Fuller Co. | 2,120 | 171,720 | |
Hawkins, Inc. | 510 | 20,120 | |
Hecla Mining Co. | 61,628 | 321,698 | |
Huntsman Corp. | 5,927 | 206,734 | |
Innospec, Inc. | 750 | 67,755 | |
Intrepid Potash, Inc.* | 3,080 | 131,608 | |
Kaiser Aluminum Corp. | 963 | 90,464 | |
Koppers Holdings, Inc.* | 1,360 | 42,568 | |
Kraton Corp.* | 9,790 | 453,473 | |
Kronos Worldwide, Inc. | 1,990 | 29,870 | |
Livent Corp.* | 2,226 | 54,270 | |
Mercer International, Inc. | 9,200 | 110,308 | |
Minerals Technologies, Inc. | 3,800 | 277,970 | |
Olin Corp. | 23,670 | 1,361,498 | |
Rayonier Advanced Materials, Inc.* | 6,475 | 36,972 | |
Resolute Forest Products, Inc. | 12,820 | 195,761 | |
Royal Gold, Inc. | 350 | 36,824 | |
Schnitzer Steel Industries, Inc. - Class A | 7,246 | 376,212 | |
Sensient Technologies Corp. | 360 | 36,022 | |
Stepan Co. | 1,640 | 203,836 | |
Trinseo PLC | 1,100 | 57,706 | |
Tronox Holdings PLC | 16,080 | 386,402 | |
Unifi, Inc.* | 2,457 | 56,880 | |
United States Steel Corp. | 24,870 | 592,155 | |
Valhi, Inc. | 2,250 | 64,688 | |
Verso Corp. - Class A | 4,480 | 121,050 | |
11,702,672 | |||
COMMUNICATIONS — 1.7% | |||
ADTRAN, Inc. | 1,230 | 28,081 | |
ATN International, Inc. | 1,359 | 54,292 | |
Calix, Inc.* | 670 | 53,580 | |
Cars.com, Inc.* | 8,445 | 135,880 | |
Consolidated Communications Holdings, Inc.* | 13,230 | 98,960 | |
Crexendo, Inc.* | 3,670 | 18,350 | |
DHI Group, Inc.* | 8,570 | 53,477 | |
DZS, Inc.* | 2,650 | 42,983 | |
EchoStar Corp. - Class A* | 2,830 | 74,570 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
COMMUNICATIONS (Continued) | |||
Entravision Communications Corp. - Class A | 8,045 | $54,545 | |
ePlus, Inc.* | 1,500 | 80,820 | |
EW Scripps Co. - Class A | 11,096 | 214,708 | |
Gannett Co., Inc.* | 8,254 | 43,994 | |
Gray Television, Inc. | 14,060 | 283,450 | |
Houghton Mifflin Harcourt Co.* | 13,270 | 213,647 | |
InterDigital, Inc. | 650 | 46,560 | |
Iridium Communications, Inc.* | 7,520 | 310,501 | |
Lee Enterprises, Inc.* | 1,160 | 40,066 | |
Liberty Latin America Ltd. - Class A* | 6,080 | 70,893 | |
Maxar Technologies, Inc. | 4,760 | 140,563 | |
NETGEAR, Inc.* | 1,330 | 38,849 | |
Perficient, Inc.* | 1,080 | 139,633 | |
Preformed Line Products Co. | 310 | 20,057 | |
Saga Communications, Inc. - Class A | 1,430 | 34,334 | |
Scholastic Corp. | 8,690 | 347,252 | |
Shenandoah Telecommunications Co. | 1,010 | 25,755 | |
TEGNA, Inc. | 3,930 | 72,941 | |
Telephone and Data Systems, Inc. | 5,050 | 101,757 | |
Townsquare Media, Inc. - Class A* | 2,500 | 33,325 | |
United States Cellular Corp.* | 2,350 | 74,072 | |
Value Line, Inc. | 840 | 39,329 | |
Viasat, Inc.* | 2,153 | 95,895 | |
3,083,119 | |||
CONSUMER, CYCLICAL — 16.9% | |||
Abercrombie & Fitch Co. - Class A* | 15,020 | 523,147 | |
Academy Sports & Outdoors, Inc.* | 1,600 | 70,240 | |
Acushnet Holdings Corp. | 1,395 | 74,047 | |
Adient PLC* | 1,810 | 86,663 | |
Alaska Air Group, Inc.* | 542 | 28,238 | |
Allegiant Travel Co.* | 685 | 128,122 | |
A-Mark Precious Metals, Inc. | 260 | 15,886 | |
American Axle & Manufacturing Holdings, Inc.* | 5,820 | 54,301 | |
American Eagle Outfitters, Inc. | 10,677 | 270,342 | |
Asbury Automotive Group, Inc.* | 1,175 | 202,958 | |
AutoNation, Inc.* | 8,449 | 987,266 | |
Avient Corp. | 2,360 | 132,042 | |
Barnes & Noble Education, Inc.*1 | 8,690 | 59,179 | |
BBQ Holdings, Inc.* | 1,740 | 27,631 | |
Beacon Roofing Supply, Inc.* | 12,000 | 688,200 | |
Beazer Homes USA, Inc.* | 8,100 | 188,082 | |
Bed Bath & Beyond, Inc.*1 | 6,876 | 100,252 | |
Big Lots, Inc. | 4,190 | 188,759 | |
Bloomin’ Brands, Inc.* | 1,650 | 34,617 | |
Bluegreen Vacations Holding Corp.* | 3,250 | 114,075 | |
BlueLinx Holdings, Inc.* | 1,770 | 169,495 | |
Boot Barn Holdings, Inc.* | 950 | 116,897 | |
Boyd Gaming Corp.* | 2,465 | 161,630 | |
Buckle, Inc. | 4,490 | 189,972 | |
Build-A-Bear Workshop, Inc. | 2,190 | 42,749 | |
Caleres, Inc. | 9,870 | 223,852 | |
Cannae Holdings, Inc.* | 2,310 | 81,196 | |
Capri Holdings Ltd.* | 4,200 | 272,622 |
1
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2021 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
CONSUMER, CYCLICAL (Continued) | |||
Cato Corp. - Class A | 4,340 | $74,474 | |
Century Casinos, Inc.* | 1,800 | 21,924 | |
Century Communities, Inc. | 9,427 | 771,034 | |
Chico’s FAS, Inc.* | 12,420 | 66,820 | |
Citi Trends, Inc.* | 3,015 | 285,671 | |
Conn’s, Inc.* | 7,840 | 184,397 | |
Container Store Group, Inc.* | 4,940 | 49,301 | |
Cooper-Standard Holdings, Inc.* | 920 | 20,617 | |
Daktronics, Inc.* | 2,900 | 14,645 | |
Dana, Inc. | 14,190 | 323,816 | |
Dave & Buster’s Entertainment, Inc.* | 959 | 36,826 | |
Delta Apparel, Inc.* | 1,180 | 35,093 | |
Dick’s Sporting Goods, Inc. | 3,030 | 348,420 | |
Dillard’s, Inc. - Class A1 | 5,140 | 1,259,403 | |
Duluth Holdings, Inc. - Class B* | 1,180 | 17,912 | |
Ethan Allen Interiors, Inc. | 7,710 | 202,696 | |
Everi Holdings, Inc.* | 1,350 | 28,823 | |
FirstCash Holdings, Inc. | 490 | 36,657 | |
Flexsteel Industries, Inc. | 1,020 | 27,397 | |
Foot Locker, Inc. | 10,620 | 463,351 | |
Franchise Group, Inc. | 710 | 37,034 | |
GAN Ltd.* | 3,720 | 34,187 | |
Genesco, Inc.* | 2,550 | 163,633 | |
G-III Apparel Group Ltd.* | 10,700 | 295,748 | |
GMS, Inc.* | 10,680 | 641,975 | |
Golden Entertainment, Inc.* | 1,190 | 60,131 | |
Goodyear Tire & Rubber Co.* | 38,516 | 821,161 | |
Green Brick Partners, Inc.* | 3,298 | 100,028 | |
Group 1 Automotive, Inc. | 4,530 | 884,347 | |
Guess?, Inc. | 9,280 | 219,750 | |
H&E Equipment Services, Inc. | 6,665 | 295,060 | |
Hamilton Beach Brands Holding Co. - Class A | 2,891 | 41,515 | |
Haverty Furniture Cos., Inc. | 1,060 | 32,404 | |
Hawaiian Holdings, Inc.* | 1,952 | 35,858 | |
Hibbett, Inc. | 1,350 | 97,105 | |
Hilton Grand Vacations, Inc.* | 1,010 | 52,631 | |
Hovnanian Enterprises, Inc. - Class A* | 790 | 100,559 | |
Hudson Technologies, Inc.* | 6,901 | 30,640 | |
Huttig Building Products, Inc.* | 6,470 | 71,623 | |
Interface, Inc. | 6,850 | 109,257 | |
International Game Technology PLC | 3,290 | 95,114 | |
Johnson Outdoors, Inc. - Class A | 1,010 | 94,627 | |
KAR Auction Services, Inc.* | 3,290 | 51,390 | |
KB Home | 2,910 | 130,164 | |
Kohl’s Corp. | 1,450 | 71,615 | |
Kontoor Brands, Inc. | 630 | 32,288 | |
La-Z-Boy, Inc. | 2,930 | 106,388 | |
Lazydays Holdings, Inc.* | 1,240 | 26,710 | |
LGI Homes, Inc.* | 710 | 109,681 | |
Lifetime Brands, Inc. | 2,090 | 33,377 | |
M/I Homes, Inc.* | 5,345 | 332,352 | |
Macy’s, Inc. | 21,350 | 558,943 | |
Marcus Corp.* | 1,660 | 29,648 | |
MarineMax, Inc.* | 4,220 | 249,149 | |
Marriott Vacations Worldwide Corp. | 2,410 | 407,242 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
CONSUMER, CYCLICAL (Continued) | |||
MDC Holdings, Inc. | 7,813 | $436,200 | |
Meritage Homes Corp.* | 6,960 | 849,538 | |
Mesa Air Group, Inc.* | 3,410 | 19,096 | |
Methode Electronics, Inc. | 2,490 | 122,433 | |
Miller Industries, Inc. | 3,345 | 111,723 | |
Modine Manufacturing Co.* | 10,092 | 101,828 | |
Monarch Casino & Resort, Inc.* | 520 | 38,454 | |
Motorcar Parts of America, Inc.* | 3,880 | 66,232 | |
Movado Group, Inc. | 4,860 | 203,294 | |
Murphy USA, Inc. | 540 | 107,590 | |
Nu Skin Enterprises, Inc. - Class A | 690 | 35,018 | |
ODP Corp.* | 9,770 | 383,766 | |
Oxford Industries, Inc. | 1,680 | 170,554 | |
PC Connection, Inc. | 3,132 | 135,083 | |
Penske Automotive Group, Inc. | 9,190 | 985,352 | |
Playa Hotels & Resorts N.V.* | 2,920 | 23,302 | |
Purple Innovation, Inc.* | 5,810 | 77,099 | |
PVH Corp. | 560 | 59,724 | |
Qurate Retail, Inc. | 16,195 | 123,082 | |
RCI Hospitality Holdings, Inc. | 840 | 65,419 | |
Red Rock Resorts, Inc. - Class A | 1,840 | 101,218 | |
Resideo Technologies, Inc.* | 12,370 | 321,991 | |
REV Group, Inc. | 4,440 | 62,826 | |
Rocky Brands, Inc. | 670 | 26,666 | |
Rush Enterprises, Inc. - Class A | 9,615 | 534,979 | |
Rush Enterprises, Inc. - Class B | 3,875 | 209,134 | |
Sally Beauty Holdings, Inc.* | 1,450 | 26,767 | |
ScanSource, Inc.* | 4,620 | 162,070 | |
SeaWorld Entertainment, Inc.* | 318 | 20,625 | |
Shoe Carnival, Inc. | 6,100 | 238,388 | |
Shyft Group, Inc. | 5,737 | 281,859 | |
Signet Jewelers Ltd. | 8,595 | 748,023 | |
SkyWest, Inc.* | 9,785 | 384,550 | |
Sonic Automotive, Inc. - Class A | 4,100 | 202,745 | |
Spirit Airlines, Inc.* | 4,210 | 91,988 | |
Standard Motor Products, Inc. | 800 | 41,912 | |
Steelcase, Inc. - Class A | 3,955 | 46,353 | |
Steven Madden Ltd. | 2,860 | 132,904 | |
Tapestry, Inc. | 1,230 | 49,938 | |
Taylor Morrison Home Corp.* | 17,833 | 623,442 | |
Tenneco, Inc. - Class A* | 3,150 | 35,595 | |
Thor Industries, Inc. | 340 | 35,282 | |
Tilly’s, Inc. - Class A | 6,240 | 100,526 | |
Titan International, Inc.* | 3,570 | 39,127 | |
Titan Machinery, Inc.* | 7,050 | 237,514 | |
TravelCenters of America, Inc.* | 1,730 | 89,303 | |
Tri Pointe Homes, Inc.* | 23,150 | 645,653 | |
UniFirst Corp. | 600 | 126,240 | |
Univar Solutions, Inc.* | 9,530 | 270,175 | |
Urban Outfitters, Inc.* | 5,130 | 150,617 | |
Vera Bradley, Inc.* | 1,890 | 16,084 | |
Veritiv Corp.* | 5,090 | 623,881 | |
Vista Outdoor, Inc.* | 16,010 | 737,581 | |
VSE Corp. | 2,440 | 148,694 | |
Wabash National Corp. | 15,770 | 307,830 | |
WESCO International, Inc.* | 9,838 | 1,294,582 |
2
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2021 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
CONSUMER, CYCLICAL (Continued) | |||
Winmark Corp. | 150 | $37,243 | |
Winnebago Industries, Inc. | 1,620 | 121,370 | |
World Fuel Services Corp. | 10,490 | 277,670 | |
Zumiez, Inc.* | 6,560 | 314,814 | |
29,988,017 | |||
CONSUMER, NON-CYCLICAL — 10.2% | |||
Aaron’s Co., Inc. | 3,040 | 74,936 | |
ABM Industries, Inc. | 11,285 | 460,992 | |
Acadia Healthcare Co., Inc.* | 16,595 | 1,007,316 | |
ACCO Brands Corp. | 17,790 | 146,945 | |
AdaptHealth Corp.* | 3,790 | 92,703 | |
Adtalem Global Education, Inc.* | 10,220 | 302,103 | |
AMCON Distributing Co. | 180 | 35,912 | |
American Public Education, Inc.* | 1,115 | 24,809 | |
Amneal Pharmaceuticals, Inc.* | 7,870 | 37,697 | |
Andersons, Inc. | 8,520 | 329,809 | |
AngioDynamics, Inc.* | 7,420 | 204,644 | |
ANI Pharmaceuticals, Inc.* | 730 | 33,638 | |
Anika Therapeutics, Inc.* | 490 | 17,557 | |
API Group Corp.* | 1,140 | 29,378 | |
ASGN, Inc.* | 480 | 59,232 | |
Atea Pharmaceuticals, Inc.* | 2,030 | 18,148 | |
Avis Budget Group, Inc.* | 980 | 203,223 | |
Bioventus, Inc. - Class A* | 1,860 | 26,951 | |
Boston Beer Co., Inc. - Class A* | 60 | 30,306 | |
Brookdale Senior Living, Inc.* | 19,430 | 100,259 | |
Carriage Services, Inc. | 4,930 | 317,689 | |
CBIZ, Inc.* | 12,740 | 498,389 | |
Central Garden & Pet Co. - Class A* | 6,130 | 293,320 | |
Chefs’ Warehouse, Inc.* | 770 | 25,641 | |
Chegg, Inc.* | 2,060 | 63,242 | |
Co-Diagnostics, Inc.* | 1,860 | 16,610 | |
Community Health Systems, Inc.* | 1,410 | 18,767 | |
Covetrus, Inc.* | 1,850 | 36,945 | |
CRA International, Inc. | 1,660 | 154,978 | |
Cross Country Healthcare, Inc.* | 3,830 | 106,321 | |
Cumberland Pharmaceuticals, Inc.* | 3,950 | 18,447 | |
Darling Ingredients, Inc.* | 9,088 | 629,708 | |
Duckhorn Portfolio, Inc.* | 1,630 | 38,044 | |
Edgewell Personal Care Co. | 3,270 | 149,472 | |
elf Beauty, Inc.* | 1,100 | 36,531 | |
Endo International PLC* | 4,000 | 15,040 | |
Ennis, Inc. | 4,250 | 83,002 | |
Ensign Group, Inc. | 920 | 77,243 | |
Farmer Bros Co.* | 6,170 | 45,967 | |
Flowers Foods, Inc. | 1,330 | 36,535 | |
Fresh Del Monte Produce, Inc. | 5,230 | 144,348 | |
FTI Consulting, Inc.* | 1,670 | 256,211 | |
Fulgent Genetics, Inc.* | 681 | 68,502 | |
Graham Holdings Co. - Class B | 480 | 302,318 | |
Grand Canyon Education, Inc.* | 630 | 53,997 | |
Grocery Outlet Holding Corp.* | 2,370 | 67,024 | |
Heidrick & Struggles International, Inc. | 4,640 | 202,907 | |
Herc Holdings, Inc. | 5,565 | 871,201 | |
HF Foods Group, Inc.* | 4,344 | 36,750 | |
Hostess Brands, Inc.* | 21,510 | 439,234 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
CONSUMER, NON-CYCLICAL (Continued) | |||
ICF International, Inc. | 3,393 | $347,952 | |
Information Services Group, Inc. | 2,835 | 21,603 | |
Ingles Markets, Inc. - Class A | 3,800 | 328,092 | |
Innoviva, Inc.* | 2,260 | 38,985 | |
Insperity, Inc. | 590 | 69,685 | |
Integer Holdings Corp.* | 4,160 | 356,054 | |
Inter Parfums, Inc. | 1,040 | 111,176 | |
Invacare Corp.* | 10,080 | 27,418 | |
John B Sanfilippo & Son, Inc. | 380 | 34,261 | |
Kelly Services, Inc. - Class A | 3,800 | 63,726 | |
Korn Ferry | 7,665 | 580,470 | |
Kura Oncology, Inc.* | 1,020 | 14,280 | |
Landec Corp.* | 7,100 | 78,810 | |
Laureate Education, Inc. - Class A | 6,360 | 77,846 | |
Limoneira Co. | 1,120 | 16,800 | |
Lincoln Educational Services Corp.* | 3,480 | 25,996 | |
LivaNova PLC* | 370 | 32,349 | |
Lucira Health, Inc.* | 4,270 | 36,765 | |
Magellan Health, Inc.* | 7,090 | 673,479 | |
Mannatech, Inc. | 900 | 34,488 | |
MEDNAX, Inc.* | 6,493 | 176,675 | |
Meridian Bioscience, Inc.* | 1,720 | 35,088 | |
ModivCare, Inc.* | 230 | 34,107 | |
MoneyGram International, Inc.* | 2,250 | 17,753 | |
Myriad Genetics, Inc.* | 880 | 24,288 | |
National HealthCare Corp. | 1,230 | 83,566 | |
Natural Grocers by Vitamin Cottage, Inc. | 3,810 | 54,293 | |
Nature’s Sunshine Products, Inc. | 1,560 | 28,860 | |
Net 1 UEPS Technologies, Inc.* | 6,650 | 35,378 | |
OPKO Health, Inc.* | 14,980 | 72,054 | |
Otonomy, Inc.* | 11,860 | 24,669 | |
Owens & Minor, Inc. | 6,760 | 294,060 | |
Patterson Cos., Inc. | 4,135 | 121,362 | |
Perdoceo Education Corp.* | 16,440 | 193,334 | |
Premier, Inc. - Class A | 1,320 | 54,344 | |
Prestige Consumer Healthcare, Inc.* | 7,785 | 472,160 | |
ProPhase Labs, Inc. | 4,450 | 31,907 | |
Quanex Building Products Corp. | 10,345 | 256,349 | |
Quidel Corp.* | 614 | 82,884 | |
Rent-A-Center, Inc. | 1,460 | 70,138 | |
RR Donnelley & Sons Co.* | 3,460 | 38,960 | |
Sanderson Farms, Inc. | 170 | 32,484 | |
Select Medical Holdings Corp. | 3,444 | 101,254 | |
Seneca Foods Corp. - Class A* | 1,510 | 72,404 | |
Simply Good Foods Co.* | 860 | 35,750 | |
SpartanNash Co. | 8,560 | 220,506 | |
Spectrum Brands Holdings, Inc. | 3,590 | 365,175 | |
Sprouts Farmers Market, Inc.* | 750 | 22,260 | |
Stride, Inc.* | 7,545 | 251,475 | |
Supernus Pharmaceuticals, Inc.* | 2,100 | 61,236 | |
Surgery Partners, Inc.* | 1,515 | 80,916 | |
Textainer Group Holdings Ltd. | 9,065 | 323,711 | |
Tivity Health, Inc.* | 4,160 | 109,990 | |
Tootsie Roll Industries, Inc. | 450 | 16,304 | |
Transcat, Inc.* | 540 | 49,912 | |
TreeHouse Foods, Inc.* | 910 | 36,882 |
3
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2021 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
CONSUMER, NON-CYCLICAL (Continued) | |||
Triple-S Management Corp.* | 4,947 | $176,509 | |
Triton International Ltd. | 15,750 | 948,622 | |
TrueBlue, Inc.* | 4,680 | 129,496 | |
Turning Point Therapeutics, Inc.* | 350 | 16,695 | |
United Natural Foods, Inc.* | 14,350 | 704,298 | |
Universal Corp. | 400 | 21,968 | |
Varex Imaging Corp.* | 3,810 | 120,205 | |
Vector Group Ltd. | 3,240 | 37,195 | |
Vectrus, Inc.* | 780 | 35,701 | |
Viad Corp.* | 2,120 | 90,715 | |
Village Super Market, Inc. - Class A | 1,270 | 29,705 | |
Weis Markets, Inc. | 5,082 | 334,802 | |
XpresSpa Group, Inc.*1 | 31,470 | 63,569 | |
18,003,144 | |||
ENERGY — 8.6% | |||
Adams Resources & Energy, Inc. | 1,050 | 29,201 | |
Alpha Metallurgical Resources, Inc.* | 2,810 | 171,550 | |
Antero Midstream Corp. | 3,410 | 33,009 | |
Antero Resources Corp.* | 49,790 | 871,325 | |
APA Corp. | 4,350 | 116,971 | |
Arch Resources, Inc. | 2,550 | 232,866 | |
Archrock, Inc. | 25,250 | 188,870 | |
Berry Corp. | 6,865 | 57,803 | |
Brigham Minerals, Inc. - Class A | 740 | 15,607 | |
Bristow Group, Inc.* | 440 | 13,935 | |
Callon Petroleum Co.* | 7,468 | 352,863 | |
Centennial Resource Development, Inc. - Class A* | 20,230 | 120,975 | |
ChampionX Corp.* | 7,670 | 155,011 | |
Chesapeake Energy Corp. | 1,940 | 125,169 | |
Civitas Resources, Inc. | 6,467 | 316,689 | |
CNX Resources Corp.* | 40,661 | 559,089 | |
Comstock Resources, Inc.* | 14,490 | 117,224 | |
CONSOL Energy, Inc.* | 7,805 | 177,252 | |
Coterra Energy, Inc. | 3,122 | 59,318 | |
CVR Energy, Inc. | 7,485 | 125,823 | |
Delek U.S. Holdings, Inc.* | 3,593 | 53,859 | |
Denbury, Inc.* | 190 | 14,552 | |
Devon Energy Corp. | 12,100 | 533,005 | |
Diamondback Energy, Inc. | 3,387 | 365,288 | |
Earthstone Energy, Inc. - Class A* | 3,305 | 36,157 | |
EnLink Midstream LLC | 33,860 | 233,295 | |
EQT Corp.* | 39,680 | 865,421 | |
Equitrans Midstream Corp. | 11,150 | 115,291 | |
Green Plains, Inc.* | 7,140 | 248,186 | |
Helmerich & Payne, Inc. | 8,805 | 208,678 | |
HollyFrontier Corp. | 2,125 | 69,657 | |
Kosmos Energy Ltd.* | 19,440 | 67,262 | |
Laredo Petroleum, Inc.* | 1,205 | 72,457 | |
Matador Resources Co. | 24,950 | 921,154 | |
Murphy Oil Corp. | 32,930 | 859,802 | |
Nabors Industries Ltd.* | 1,600 | 129,744 | |
NCS Multistage Holdings, Inc.* | 800 | 23,200 | |
Newpark Resources, Inc.* | 13,070 | 38,426 | |
NexTier Oilfield Solutions, Inc.* | 4,160 | 14,768 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
ENERGY (Continued) | |||
Northern Oil and Gas, Inc. | 3,210 | $66,062 | |
NOV, Inc. | 6,350 | 86,042 | |
NOW, Inc.* | 15,375 | 131,302 | |
Oasis Petroleum, Inc. | 310 | 39,057 | |
Oceaneering International, Inc.* | 13,180 | 149,066 | |
Oil States International, Inc.* | 4,210 | 20,924 | |
Ovintiv, Inc. | 5,230 | 176,251 | |
Par Pacific Holdings, Inc.* | 6,089 | 100,408 | |
Patterson-UTI Energy, Inc. | 30,815 | 260,387 | |
PBF Energy, Inc. - Class A* | 23,390 | 303,368 | |
PDC Energy, Inc. | 22,564 | 1,100,672 | |
Peabody Energy Corp.* | 11,523 | 116,037 | |
Pioneer Natural Resources Co. | 908 | 165,147 | |
ProPetro Holding Corp.* | 11,260 | 91,206 | |
Range Resources Corp.* | 33,048 | 589,246 | |
Ranger Energy Services, Inc.* | 3,760 | 38,615 | |
Ranger Oil Corp. - Class A* | 2,050 | 55,186 | |
Renewable Energy Group, Inc.* | 4,170 | 176,975 | |
REX American Resources Corp.* | 818 | 78,528 | |
RPC, Inc.* | 3,960 | 17,978 | |
Select Energy Services, Inc. - Class A* | 4,960 | 30,901 | |
SilverBow Resources, Inc.* | 1,240 | 26,995 | |
SM Energy Co. | 28,890 | 851,677 | |
Southwestern Energy Co.* | 64,365 | 299,941 | |
SunCoke Energy, Inc. | 19,820 | 130,614 | |
Talos Energy, Inc.* | 3,760 | 36,848 | |
Targa Resources Corp. | 6,510 | 340,082 | |
Transocean Ltd.*1 | 36,650 | 101,154 | |
Trecora Resources* | 3,240 | 26,179 | |
U.S. Silica Holdings, Inc.* | 3,660 | 34,404 | |
Valaris Ltd.* | 2,750 | 99,000 | |
Warrior Met Coal, Inc. | 9,274 | 238,435 | |
Whiting Petroleum Corp.* | 8,310 | 537,491 | |
15,226,930 | |||
FINANCIAL — 27.6% | |||
1st Source Corp. | 4,412 | 218,835 | |
Air Lease Corp. | 16,630 | 735,545 | |
Allegiance Bancshares, Inc. | 1,540 | 65,003 | |
Amalgamated Financial Corp. | 3,170 | 53,161 | |
Ambac Financial Group, Inc.* | 4,100 | 65,805 | |
Amerant Bancorp, Inc. | 4,490 | 155,130 | |
American Equity Investment Life Holding Co. | 24,575 | 956,459 | |
American National Bankshares, Inc. | 1,050 | 39,564 | |
American National Group, Inc. | 1,750 | 330,470 | |
Ameris Bancorp | 3,045 | 151,276 | |
Argo Group International Holdings Ltd. | 6,173 | 358,713 | |
Associated Banc-Corp | 17,403 | 393,134 | |
Assured Guaranty Ltd. | 4,425 | 222,135 | |
Atlantic Capital Bancshares, Inc.* | 2,940 | 84,584 | |
Atlantic Union Bankshares Corp. | 12,733 | 474,814 | |
Atlanticus Holdings Corp.* | 2,300 | 164,036 | |
Axis Capital Holdings Ltd. | 3,650 | 198,816 | |
Axos Financial, Inc.* | 4,020 | 224,758 | |
B Riley Financial, Inc. | 3,760 | 334,114 |
4
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2021 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
FINANCIAL (Continued) | |||
Banc of California, Inc. | 11,460 | $224,845 | |
BancFirst Corp. | 994 | 70,137 | |
Bancorp, Inc.* | 2,510 | 63,528 | |
Bank of NT Butterfield & Son Ltd. | 910 | 34,680 | |
Bank OZK | 11,140 | 518,344 | |
BankFinancial Corp. | 3,130 | 33,397 | |
BankUnited, Inc. | 9,605 | 406,388 | |
Banner Corp. | 5,930 | 359,773 | |
Bar Harbor Bankshares | 1,200 | 34,716 | |
BBX Capital, Inc.*1 | 2,120 | 21,221 | |
BCB Bancorp, Inc. | 3,960 | 61,103 | |
Berkshire Hills Bancorp, Inc. | 8,586 | 244,100 | |
Blucora, Inc.* | 3,710 | 64,257 | |
Bridgewater Bancshares, Inc.* | 1,870 | 33,080 | |
Brighthouse Financial, Inc.* | 3,326 | 172,287 | |
Brookline Bancorp, Inc. | 11,665 | 188,856 | |
Bryn Mawr Bank Corp. | 2,200 | 99,022 | |
Business First Bancshares, Inc. | 1,650 | 46,712 | |
Byline Bancorp, Inc. | 2,840 | 77,674 | |
Cadence Bank | 14,881 | 443,305 | |
Camden National Corp. | 691 | 33,279 | |
Capital Bancorp, Inc. | 2,440 | 63,928 | |
Carter Bankshares, Inc.* | 2,560 | 39,398 | |
Cathay General Bancorp | 7,580 | 325,864 | |
Central Pacific Financial Corp. | 7,220 | 203,387 | |
Central Valley Community Bancorp | 1,800 | 37,386 | |
CIT Group, Inc. | 7,715 | 396,088 | |
Citizens Community Bancorp, Inc. | 1,890 | 26,025 | |
City Holding Co. | 1,219 | 99,702 | |
CNB Financial Corp. | 1,210 | 32,065 | |
CNO Financial Group, Inc. | 35,850 | 854,664 | |
Columbia Banking System, Inc. | 2,430 | 79,510 | |
Community Bank System, Inc. | 2,832 | 210,927 | |
Community Trust Bancorp, Inc. | 1,470 | 64,107 | |
ConnectOne Bancorp, Inc. | 6,500 | 212,615 | |
Consumer Portfolio Services, Inc.* | 5,280 | 62,568 | |
Cowen, Inc. - Class A | 4,560 | 164,616 | |
CrossFirst Bankshares, Inc.* | 2,480 | 38,713 | |
Customers Bancorp, Inc.* | 11,330 | 740,642 | |
CVB Financial Corp. | 9,500 | 203,395 | |
Diamond Hill Investment Group, Inc. | 300 | 58,269 | |
Dime Community Bancshares, Inc. | 5,999 | 210,925 | |
Donegal Group, Inc. - Class A | 1,421 | 20,306 | |
Douglas Elliman, Inc.* | 1,620 | 18,630 | |
Eagle Bancorp, Inc. | 1,897 | 110,671 | |
Employers Holdings, Inc. | 4,030 | 166,761 | |
Encore Capital Group, Inc.* | 4,310 | 267,694 | |
Enova International, Inc.* | 6,205 | 254,157 | |
Enstar Group Ltd.* | 730 | 180,741 | |
Enterprise Bancorp, Inc. | 770 | 34,588 | |
Enterprise Financial Services Corp. | 1,423 | 67,009 | |
Equity Bancshares, Inc. - Class A | 750 | 25,448 | |
Essent Group Ltd. | 1,297 | 59,052 | |
Evercore, Inc. - Class A | 220 | 29,887 | |
EZCORP, Inc. - Class A* | 8,360 | 61,613 | |
FB Financial Corp. | 672 | 29,447 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
FINANCIAL (Continued) | |||
Federal Agricultural Mortgage Corp. - Class C | 1,238 | $153,425 | |
Federated Hermes, Inc. | 973 | 36,565 | |
Financial Institutions, Inc. | 4,410 | 140,238 | |
First BanCorp/Puerto Rico | 70,090 | 965,840 | |
First Bancorp/Southern Pines NC | 2,604 | 119,055 | |
First Bancshares, Inc. | 566 | 21,859 | |
First Bank/Hamilton NJ | 2,360 | 34,244 | |
First Busey Corp. | 5,489 | 148,862 | |
First Business Financial Services, Inc. | 1,320 | 38,504 | |
First Commonwealth Financial Corp. | 20,070 | 322,926 | |
First Community Bankshares, Inc. | 1,620 | 54,140 | |
First Financial Bancorp | 15,743 | 383,814 | |
First Financial Bankshares, Inc.1 | 4,750 | 241,490 | |
First Financial Corp. | 1,311 | 59,375 | |
First Financial Northwest, Inc. | 2,600 | 42,042 | |
First Foundation, Inc. | 2,400 | 59,664 | |
First Horizon Corp. | 19,892 | 324,836 | |
First Internet Bancorp | 1,790 | 84,202 | |
First Interstate BancSystem, Inc. - Class A | 2,026 | 82,397 | |
First Merchants Corp. | 4,100 | 171,749 | |
First Mid Bancshares, Inc. | 732 | 31,322 | |
First Midwest Bancorp, Inc. | 11,990 | 245,555 | |
First United Corp. | 840 | 15,851 | |
Flagstar Bancorp, Inc. | 13,170 | 631,370 | |
Flushing Financial Corp. | 5,360 | 130,248 | |
FNB Corp. | 20,612 | 250,024 | |
FRP Holdings, Inc.* | 500 | 28,900 | |
Fulton Financial Corp. | 37,840 | 643,280 | |
Genworth Financial, Inc. - Class A* | 78,465 | 317,783 | |
Glacier Bancorp, Inc. | 5,090 | 288,603 | |
Global Indemnity Group LLC - Class A | 740 | 18,596 | |
Goosehead Insurance, Inc. - Class A | 260 | 33,821 | |
Great Southern Bancorp, Inc. | 1,025 | 60,731 | |
Great Western Bancorp, Inc. | 10,770 | 365,749 | |
Greenhill & Co., Inc. | 4,020 | 72,079 | |
Hallmark Financial Services, Inc.* | 6,030 | 26,231 | |
Hancock Whitney Corp. | 12,610 | 630,752 | |
Hanmi Financial Corp. | 9,080 | 215,014 | |
Hanover Insurance Group, Inc. | 1,000 | 131,060 | |
HarborOne Bancorp, Inc. | 1,720 | 25,525 | |
Heartland Financial USA, Inc. | 2,500 | 126,525 | |
Heritage Commerce Corp. | 3,320 | 39,641 | |
Heritage Financial Corp. | 4,028 | 98,444 | |
Hilltop Holdings, Inc. | 13,247 | 465,500 | |
Home Bancorp, Inc. | 940 | 39,019 | |
HomeStreet, Inc. | 6,590 | 342,680 | |
HomeTrust Bancshares, Inc. | 1,340 | 41,513 | |
Hope Bancorp, Inc. | 13,847 | 203,689 | |
Horace Mann Educators Corp. | 7,991 | 309,252 | |
Horizon Bancorp, Inc. | 4,271 | 89,050 | |
Howard Hughes Corp.* | 1,345 | 136,894 | |
Huntington Bancshares, Inc. | 17,854 | 275,309 | |
Independent Bank Corp. | 1,395 | 113,734 | |
Independent Bank Group, Inc. | 7,595 | 547,979 |
5
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2021 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
FINANCIAL (Continued) | |||
International Bancshares Corp. | 13,840 | $586,678 | |
Invesco Ltd. | 5,610 | 129,142 | |
Investors Bancorp, Inc. | 16,430 | 248,915 | |
James River Group Holdings Ltd. | 940 | 27,081 | |
Janus Henderson Group PLC | 8,345 | 349,989 | |
Kearny Financial Corp. | 12,332 | 163,399 | |
Kemper Corp. | 3,591 | 211,115 | |
Kinsale Capital Group, Inc. | 170 | 40,441 | |
Lakeland Bancorp, Inc. | 9,005 | 171,005 | |
Lakeland Financial Corp. | 2,175 | 174,305 | |
LendingClub Corp.* | 720 | 17,410 | |
LendingTree, Inc.* | 147 | 18,022 | |
Live Oak Bancshares, Inc. | 310 | 27,060 | |
LPL Financial Holdings, Inc. | 540 | 86,449 | |
Marcus & Millichap, Inc.* | 780 | 40,139 | |
Marlin Business Services Corp. | 2,240 | 52,147 | |
MBIA, Inc.* | 3,030 | 47,844 | |
McGrath RentCorp | 2,805 | 225,129 | |
Mercantile Bank Corp. | 1,560 | 54,647 | |
Merchants Bancorp | 1,640 | 77,621 | |
Meridian Corp. | 2,610 | 95,970 | |
Meta Financial Group, Inc. | 6,305 | 376,156 | |
Metropolitan Bank Holding Corp.* | 1,130 | 120,379 | |
MGIC Investment Corp. | 2,070 | 29,849 | |
Middlefield Banc Corp. | 1,400 | 34,748 | |
Midland States Bancorp, Inc. | 2,590 | 64,206 | |
MidWestOne Financial Group, Inc. | 1,400 | 45,318 | |
Moelis & Co. | 602 | 37,631 | |
Mr Cooper Group, Inc.* | 12,107 | 503,772 | |
MVB Financial Corp. | 800 | 33,216 | |
National Bank Holdings Corp. - Class A | 1,180 | 51,849 | |
National Western Life Group, Inc. - Class A | 380 | 81,487 | |
Navient Corp. | 36,670 | 778,137 | |
NBT Bancorp, Inc. | 1,180 | 45,454 | |
Nelnet, Inc. - Class A | 7,330 | 715,994 | |
Newmark Group, Inc. - Class A | 35,980 | 672,826 | |
Nicolet Bankshares, Inc.* | 977 | 83,778 | |
NMI Holdings, Inc. - Class A* | 8,065 | 176,220 | |
Northeast Bank | 1,190 | 42,519 | |
Northfield Bancorp, Inc. | 3,400 | 54,944 | |
Northrim BanCorp, Inc. | 1,860 | 80,836 | |
Northwest Bancshares, Inc. | 18,541 | 262,541 | |
OceanFirst Financial Corp. | 7,478 | 166,012 | |
OFG Bancorp | 11,370 | 301,987 | |
Old National Bancorp | 36,126 | 654,603 | |
Old Second Bancorp, Inc. | 2,820 | 35,504 | |
OneMain Holdings, Inc. | 4,760 | 238,190 | |
OP Bancorp | 5,610 | 71,584 | |
Oppenheimer Holdings, Inc. - Class A | 2,160 | 100,159 | |
Pacific Premier Bancorp, Inc. | 16,860 | 674,906 | |
PacWest Bancorp | 4,690 | 211,847 | |
PCB Bancorp | 1,150 | 25,254 | |
Peapack-Gladstone Financial Corp. | 3,435 | 121,599 | |
PennyMac Financial Services, Inc. | 2,030 | 141,653 | |
Peoples Bancorp, Inc. | 4,336 | 137,928 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
FINANCIAL (Continued) | |||
Peoples Financial Services Corp. | 780 | $41,098 | |
Pinnacle Financial Partners, Inc. | 3,943 | 376,557 | |
Piper Sandler Cos. | 3,180 | 567,662 | |
Popular, Inc. | 10,360 | 849,934 | |
PRA Group, Inc.* | 3,015 | 151,383 | |
Preferred Bank/Los Angeles CA | 3,550 | 254,855 | |
Premier Financial Corp. | 3,094 | 95,636 | |
Primerica, Inc. | 610 | 93,495 | |
Primis Financial Corp. | 2,444 | 36,758 | |
ProAssurance Corp. | 4,495 | 113,724 | |
Provident Bancorp, Inc. | 4,355 | 81,003 | |
Provident Financial Holdings, Inc. | 2,380 | 39,389 | |
Provident Financial Services, Inc. | 20,260 | 490,697 | |
QCR Holdings, Inc. | 610 | 34,160 | |
RBB Bancorp | 1,530 | 40,086 | |
Realogy Holdings Corp.* | 29,840 | 501,610 | |
Regional Management Corp. | 2,480 | 142,501 | |
Reliant Bancorp, Inc. | 1,120 | 39,760 | |
Renasant Corp. | 9,703 | 368,229 | |
Republic Bancorp, Inc. - Class A | 1,110 | 56,432 | |
Republic First Bancorp, Inc.* | 7,090 | 26,375 | |
Riverview Bancorp, Inc. | 5,078 | 39,050 | |
S&T Bancorp, Inc. | 1,146 | 36,122 | |
Safety Insurance Group, Inc. | 870 | 73,976 | |
Sandy Spring Bancorp, Inc. | 4,031 | 193,811 | |
Seacoast Banking Corp. of Florida | 4,485 | 158,724 | |
Selective Insurance Group, Inc. | 1,683 | 137,905 | |
ServisFirst Bancshares, Inc. | 290 | 24,633 | |
Sierra Bancorp | 3,400 | 92,310 | |
Simmons First National Corp. - Class A | 15,604 | 461,566 | |
SiriusPoint Ltd.* | 7,640 | 62,113 | |
Southern First Bancshares, Inc.* | 610 | 38,119 | |
Southside Bancshares, Inc. | 3,476 | 145,366 | |
SouthState Corp. | 3,751 | 300,493 | |
Spirit of Texas Bancshares, Inc. | 2,580 | 74,252 | |
State Auto Financial Corp. | 2,170 | 112,167 | |
Sterling Bancorp | 27,396 | 706,543 | |
Stewart Information Services Corp. | 3,580 | 285,433 | |
Stifel Financial Corp. | 7,110 | 500,686 | |
Stock Yards Bancorp, Inc. | 2,360 | 150,757 | |
StoneX Group, Inc.* | 280 | 17,150 | |
Stratus Properties, Inc.* | 1,100 | 40,227 | |
Summit Financial Group, Inc. | 2,091 | 57,398 | |
Synovus Financial Corp. | 6,345 | 303,735 | |
Texas Capital Bancshares, Inc.* | 6,070 | 365,718 | |
Timberland Bancorp, Inc. | 1,578 | 43,711 | |
Tiptree, Inc. | 5,540 | 76,618 | |
Tompkins Financial Corp. | 329 | 27,498 | |
Towne Bank/Portsmouth VA | 2,010 | 63,496 | |
TriCo Bancshares | 1,045 | 44,893 | |
TriState Capital Holdings, Inc.* | 1,580 | 47,811 | |
Triumph Bancorp, Inc.* | 1,380 | 164,330 | |
Trustmark Corp. | 8,240 | 267,470 | |
Umpqua Holdings Corp. | 21,094 | 405,849 | |
United Bankshares, Inc. | 10,232 | 371,217 | |
United Community Banks, Inc. | 11,970 | 430,202 |
6
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2021 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
FINANCIAL (Continued) | |||
United Fire Group, Inc. | 1,170 | $27,132 | |
Unity Bancorp, Inc. | 1,193 | 31,316 | |
Universal Insurance Holdings, Inc. | 2,040 | 34,680 | |
Univest Financial Corp. | 5,540 | 165,757 | |
Unum Group | 3,220 | 79,115 | |
Valley National Bancorp | 18,513 | 254,554 | |
Veritex Holdings, Inc. | 3,840 | 152,755 | |
Virtus Investment Partners, Inc. | 340 | 101,014 | |
Walker & Dunlop, Inc. | 3,320 | 500,922 | |
Washington Federal, Inc. | 19,350 | 645,903 | |
Waterstone Financial, Inc. | 3,414 | 74,630 | |
Webster Financial Corp. | 1,680 | 93,811 | |
WesBanco, Inc. | 11,601 | 405,919 | |
Western New England Bancorp, Inc. | 9,460 | 82,870 | |
White Mountains Insurance Group Ltd. | 155 | 157,155 | |
Wintrust Financial Corp. | 3,805 | 345,570 | |
World Acceptance Corp.* | 1,540 | 377,962 | |
WSFS Financial Corp. | 5,366 | 268,944 | |
48,925,100 | |||
INDUSTRIAL — 16.2% | |||
AAR Corp.* | 8,900 | 347,367 | |
Acuity Brands, Inc. | 820 | 173,610 | |
AerSale Corp.* | 1,850 | 32,819 | |
Air Transport Services Group, Inc.* | 3,140 | 92,253 | |
Alamo Group, Inc. | 120 | 17,662 | |
Altra Industrial Motion Corp. | 1,120 | 57,758 | |
American Outdoor Brands, Inc.* | 1,627 | 32,426 | |
Apogee Enterprises, Inc. | 3,730 | 179,599 | |
ArcBest Corp. | 9,170 | 1,099,024 | |
Arcosa, Inc. | 440 | 23,188 | |
Armstrong World Industries, Inc. | 250 | 29,030 | |
Astec Industries, Inc. | 3,157 | 218,685 | |
Atkore, Inc.* | 2,545 | 282,979 | |
Atlas Air Worldwide Holdings, Inc.* | 9,305 | 875,787 | |
Avnet, Inc. | 4,936 | 203,511 | |
AZEK Co., Inc.* | 1,580 | 73,059 | |
AZZ, Inc. | 1,200 | 66,348 | |
Barnes Group, Inc. | 7,290 | 339,641 | |
Benchmark Electronics, Inc. | 9,260 | 250,946 | |
Boise Cascade Co. | 8,975 | 639,020 | |
Bowman Consulting Group Ltd.* | 1,280 | 27,194 | |
Brady Corp. - Class A | 1,055 | 56,865 | |
Builders FirstSource, Inc.* | 10,928 | 936,639 | |
Cactus, Inc. - Class A | 800 | 30,504 | |
Centrus Energy Corp. - Class A* | 590 | 29,447 | |
Chart Industries, Inc.* | 865 | 137,959 | |
Colfax Corp.* | 17,650 | 811,370 | |
Columbus McKinnon Corp. | 3,330 | 154,046 | |
Comfort Systems USA, Inc. | 1,020 | 100,919 | |
Concrete Pumping Holdings, Inc.* | 7,940 | 65,108 | |
Core Molding Technologies, Inc.* | 2,200 | 18,722 | |
Cornerstone Building Brands, Inc.* | 15,680 | 273,459 | |
Costamare, Inc. | 17,040 | 215,556 | |
Covenant Logistics Group, Inc.* | 3,352 | 88,593 | |
Curtiss-Wright Corp. | 425 | 58,935 | |
DHT Holdings, Inc. | 28,170 | 146,202 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
INDUSTRIAL (Continued) | |||
Dorian LPG Ltd. | 5,571 | $70,696 | |
Ducommun, Inc.* | 1,347 | 62,999 | |
Dycom Industries, Inc.* | 3,320 | 311,283 | |
Eagle Bulk Shipping, Inc. | 820 | 37,310 | |
Eagle Materials, Inc. | 450 | 74,907 | |
Eastern Co. | 700 | 17,612 | |
EMCOR Group, Inc. | 1,320 | 168,155 | |
Encore Wire Corp. | 5,610 | 802,791 | |
EnPro Industries, Inc. | 4,435 | 488,160 | |
ESCO Technologies, Inc. | 1,740 | 156,583 | |
Federal Signal Corp. | 1,980 | 85,813 | |
Fluor Corp.* | 13,320 | 329,936 | |
Fortress Transportation and Infrastructure Investors LLC | 4,000 | 115,680 | |
Forward Air Corp. | 1,000 | 121,090 | |
Gates Industrial Corp. PLC* | 2,060 | 32,775 | |
GATX Corp. | 7,895 | 822,580 | |
Genco Shipping & Trading Ltd. | 2,330 | 37,280 | |
Gencor Industries, Inc.* | 2,200 | 25,366 | |
Generac Holdings, Inc.* | 455 | 160,124 | |
Gibraltar Industries, Inc.* | 1,260 | 84,017 | |
Granite Construction, Inc. | 4,275 | 165,442 | |
Great Lakes Dredge & Dock Corp.* | 6,060 | 95,263 | |
Greenbrier Cos., Inc. | 6,690 | 307,004 | |
Greif, Inc. - Class A | 4,680 | 282,532 | |
Griffon Corp. | 9,320 | 265,434 | |
Harsco Corp.* | 7,480 | 124,991 | |
Haynes International, Inc. | 2,920 | 117,764 | |
Heritage-Crystal Clean, Inc.* | 2,120 | 67,882 | |
Hillenbrand, Inc. | 4,727 | 245,757 | |
Hub Group, Inc. - Class A* | 8,030 | 676,447 | |
Hurco Cos., Inc. | 762 | 22,631 | |
Insteel Industries, Inc. | 1,170 | 46,578 | |
International Seaways, Inc. | 1,176 | 17,264 | |
JELD-WEN Holding, Inc.* | 730 | 19,243 | |
Kadant, Inc. | 280 | 64,534 | |
Kaman Corp. | 440 | 18,986 | |
Kennametal, Inc. | 2,500 | 89,775 | |
Kimball Electronics, Inc.* | 6,580 | 143,181 | |
Knowles Corp.* | 16,515 | 385,625 | |
Limbach Holdings, Inc.* | 7,440 | 66,960 | |
Louisiana-Pacific Corp. | 10,228 | 801,364 | |
Marten Transport Ltd. | 14,465 | 248,219 | |
MasTec, Inc.* | 2,590 | 239,005 | |
Materion Corp. | 3,430 | 315,354 | |
Matson, Inc. | 4,390 | 395,232 | |
Matthews International Corp. - Class A | 1,900 | 69,673 | |
Mayville Engineering Co., Inc.* | 1,820 | 27,136 | |
Moog, Inc. - Class A | 2,145 | 173,681 | |
Mueller Industries, Inc. | 3,470 | 205,979 | |
MYR Group, Inc.* | 4,720 | 521,796 | |
NL Industries, Inc. | 5,450 | 40,330 | |
Northwest Pipe Co.* | 2,740 | 87,132 | |
NV5 Global, Inc.* | 330 | 45,580 | |
nVent Electric PLC | 4,145 | 157,510 | |
Olympic Steel, Inc. | 1,839 | 43,217 |
7
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2021 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
INDUSTRIAL (Continued) | |||
Overseas Shipholding Group, Inc. - Class A* | 9,780 | $18,386 | |
PAM Transportation Services, Inc.* | 2,562 | 181,928 | |
Plexus Corp.* | 4,150 | 397,943 | |
Powell Industries, Inc. | 2,150 | 63,404 | |
Ranpak Holdings Corp.* | 980 | 36,828 | |
Regal Rexnord Corp. | 5,620 | 956,412 | |
Ryder System, Inc. | 1,930 | 159,090 | |
Ryerson Holding Corp. | 9,350 | 243,567 | |
Safe Bulkers, Inc.* | 7,270 | 27,408 | |
Saia, Inc.* | 1,120 | 377,474 | |
Sanmina Corp.* | 15,450 | 640,557 | |
Schneider National, Inc. - Class B | 4,220 | 113,560 | |
Scorpio Tankers, Inc. | 4,194 | 53,725 | |
SFL Corp. Ltd. | 3,130 | 25,510 | |
Smith-Midland Corp.* | 2,490 | 117,030 | |
SPX FLOW, Inc. | 3,840 | 332,083 | |
Standex International Corp. | 910 | 100,701 | |
Sterling Construction Co., Inc.* | 2,530 | 66,539 | |
Summit Materials, Inc. - Class A* | 16,440 | 659,902 | |
TD SYNNEX Corp. | 2,225 | 254,451 | |
Tecnoglass, Inc.1 | 7,360 | 192,758 | |
Teekay Corp.* | 5,640 | 17,710 | |
Teekay Tankers Ltd. - Class A* | 2,249 | 24,514 | |
Terex Corp. | 5,715 | 251,174 | |
Thermon Group Holdings, Inc.* | 3,570 | 60,440 | |
Timken Co. | 1,350 | 93,541 | |
TimkenSteel Corp.* | 6,680 | 110,220 | |
TopBuild Corp.* | 321 | 88,567 | |
Tredegar Corp. | 3,000 | 35,460 | |
TriMas Corp. | 4,910 | 181,670 | |
Trinity Industries, Inc. | 14,845 | 448,319 | |
Triumph Group, Inc.* | 1,220 | 22,607 | |
TTM Technologies, Inc.* | 26,104 | 388,950 | |
Tutor Perini Corp.* | 3,940 | 48,738 | |
U.S. Xpress Enterprises, Inc. - Class A* | 9,705 | 56,968 | |
UFP Industries, Inc. | 8,650 | 795,886 | |
Ultralife Corp.* | 4,300 | 25,972 | |
USA Truck, Inc.* | 1,900 | 37,772 | |
Vishay Intertechnology, Inc. | 25,410 | 555,717 | |
Vishay Precision Group, Inc.* | 1,600 | 59,392 | |
Watts Water Technologies, Inc. - Class A | 820 | 159,219 | |
Welbilt, Inc.* | 4,505 | 107,084 | |
Werner Enterprises, Inc. | 7,330 | 349,348 | |
Willis Lease Finance Corp.* | 2,130 | 80,194 | |
WillScot Mobile Mini Holdings Corp.* | 16,184 | 660,955 | |
Worthington Industries, Inc. | 710 | 38,809 | |
Yellow Corp.* | 10,925 | 137,546 | |
Zurn Water Solutions Corp. | 2,095 | 76,258 | |
28,718,174 | |||
TECHNOLOGY — 4.3% | |||
Aehr Test Systems* | 3,000 | 72,540 | |
Allscripts Healthcare Solutions, Inc.* | 18,030 | 332,653 | |
Alpha & Omega Semiconductor Ltd.* | 8,910 | 539,590 | |
Amkor Technology, Inc. | 45,400 | 1,125,466 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
TECHNOLOGY (Continued) | |||
Axcelis Technologies, Inc.* | 1,070 | $79,779 | |
AXT, Inc.* | 4,070 | 35,857 | |
Azenta, Inc. | 220 | 22,684 | |
CACI International, Inc. - Class A* | 1,400 | 376,894 | |
Cirrus Logic, Inc.* | 580 | 53,372 | |
Cohu, Inc.* | 3,172 | 120,821 | |
Concentrix Corp. | 1,745 | 311,692 | |
CTS Corp. | 790 | 29,009 | |
Digi International, Inc.* | 4,485 | 110,196 | |
Digital Turbine, Inc.* | 1,265 | 77,152 | |
Diodes, Inc.* | 4,875 | 535,324 | |
Donnelley Financial Solutions, Inc.* | 6,600 | 311,124 | |
Evolent Health, Inc. - Class A* | 1,860 | 51,466 | |
ExlService Holdings, Inc.* | 410 | 59,356 | |
Insight Enterprises, Inc.* | 7,795 | 830,947 | |
KBR, Inc. | 1,590 | 75,716 | |
Kulicke & Soffa Industries, Inc. | 5,368 | 324,979 | |
Magnachip Semiconductor Corp.* | 3,650 | 76,540 | |
ManTech International Corp. - Class A | 3,513 | 256,203 | |
NetScout Systems, Inc.* | 8,500 | 281,180 | |
Onto Innovation, Inc.* | 2,649 | 268,158 | |
Photronics, Inc.* | 15,170 | 285,954 | |
Rambus, Inc.* | 2,165 | 63,629 | |
SMART Global Holdings, Inc.* | 1,700 | 120,683 | |
StarTek, Inc.* | 6,800 | 35,496 | |
Stratasys Ltd.* | 2,795 | 68,450 | |
Super Micro Computer, Inc.* | 3,640 | 159,978 | |
Synaptics, Inc.* | 460 | 133,175 | |
TTEC Holdings, Inc. | 400 | 36,220 | |
Ultra Clean Holdings, Inc.* | 1,830 | 104,969 | |
Xerox Holdings Corp. | 4,990 | 112,974 | |
Xperi Holding Corp. | 9,199 | 173,953 | |
7,654,179 | |||
UTILITIES — 0.0% | |||
Ameresco, Inc. - Class A* | 643 | 52,366 | |
TOTAL COMMON STOCKS | |||
(Cost $99,244,423) | 163,353,701 | ||
EXCHANGE-TRADED FUNDS — 2.4% | |||
Direxion Daily Homebuilders & Supplies Bull 3x Shares - ETF* | 4,457 | 551,777 | |
Direxion Daily Regional Banks Bull 3x Shares - ETF | 7,040 | 349,888 | |
Direxion Daily Retail Bull 3X Shares - ETF | 3,885 | 141,530 | |
Direxion Daily Semiconductors Bull 3x Shares - ETF | 3,618 | 246,060 | |
Direxion Daily Small Cap Bull 3X Shares - ETF1 | 5,855 | 496,211 | |
Direxion Daily Technology Bull 3X Shares - ETF | 2,147 | 185,136 | |
iShares Russell 2000 Value ETF1 | 5,415 | 899,161 | |
SPDR S&P Metals & Mining ETF1 | 7,270 | 325,551 |
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VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2021 (Unaudited)
Number of Shares | Value | ||
EXCHANGE-TRADED FUNDS (Continued) | |||
SPDR S&P Oil & Gas Equipment & Services ETF1 | 2,730 | $134,944 | |
SPDR S&P Regional Banking ETF1 | 13,430 | 951,515 | |
TOTAL EXCHANGE-TRADED FUNDS | |||
(Cost $3,076,138) | 4,281,773 | ||
PREFERRED STOCKS — 0.1% | |||
CONSUMER, CYCLICAL — 0.1% | |||
Qurate Retail, Inc. 8.00%, 3/15/20312 | 274 | 28,283 | |
WESCO International, Inc. 10.62%2,3,4 | 5,008 | 153,495 | |
181,778 | |||
INDUSTRIAL — 0.0% | |||
Steel Partners Holdings LP 6.00%, 2/7/20262 | 1,855 | 45,336 | |
TOTAL PREFERRED STOCKS | |||
(Cost $188,490) | 227,114 | ||
MONEY MARKET INVESTMENTS — 7.3% | |||
Blackrock Liquidity Funds FedFund- Class Institutional, 0.03%3,5 | 4,405,924 | 4,405,924 | |
Federated Treasury Obligations Fund- Class Institutional, 0.01%3,6 | 500,000 | 500,000 | |
UMB Money Market Fiduciary , 0.01%3 | 8,028,132 | 8,028,132 | |
TOTAL MONEY MARKET INVESTMENTS | |||
(Cost $12,934,056) | 12,934,056 | ||
TOTAL INVESTMENTS — 101.9% | |||
(Cost $115,443,107) | 180,796,644 | ||
Liabilities less other assets — (1.9)% | (3,430,361) | ||
TOTAL NET ASSETS — 100.0% | $177,366,283 |
LLC – Limited Liability Company |
LP – Limited Partnership |
PLC – Public Limited Company |
*Non-income producing security. |
1All or a portion of shares are on loan. Total loaned securities had a fair value of $4,300,753 at December 31, 2021. |
2Callable. |
3Variable rate security; the rate shown represents the rate at December 31, 2021. |
4Perpetual security; maturity date is not applicable. |
5Investments purchased with cash proceeds from securities lending. Total collateral had a fair value of $4,405,924 at December 31, 2021. |
6All or a portion of this security is segregated as collateral for options contracts. The total value of these securities is $500,000 December 31, 2021. |
9