VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS
As of December 31, 2022 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS — 91.7% | |||
BASIC MATERIALS — 5.6% | |||
AdvanSix, Inc. | 3,982 | $151,396 | |
Alcoa Corp. | 1,805 | 82,073 | |
American Vanguard Corp. | 7,930 | 172,160 | |
Arconic Corp.* | 4,982 | 105,419 | |
Ashland, Inc. | 860 | 92,476 | |
ATI, Inc.* | 14,973 | 447,094 | |
Avient Corp. | 2,490 | 84,062 | |
Cabot Corp. | 3,538 | 236,480 | |
Carpenter Technology Corp. | 8,357 | 308,708 | |
Century Aluminum Co.* | 3,640 | 29,775 | |
Chemours Co. | 1,148 | 35,152 | |
Clearwater Paper Corp.* | 3,015 | 113,997 | |
Coeur Mining, Inc.* | 19,140 | 64,310 | |
Commercial Metals Co. | 28,130 | 1,358,679 | |
Ecovyst, Inc.* | 7,110 | 62,995 | |
Element Solutions, Inc. | 50,030 | 910,046 | |
H.B. Fuller Co. | 3,172 | 227,179 | |
Hawkins, Inc. | 1,040 | 40,144 | |
Haynes International, Inc. | 3,980 | 181,846 | |
Hecla Mining Co. | 93,858 | 521,850 | |
Huntsman Corp. | 12,705 | 349,133 | |
Innospec, Inc. | 940 | 96,688 | |
Intrepid Potash, Inc.* | 1,720 | 49,656 | |
Kaiser Aluminum Corp. | 1,053 | 79,986 | |
Koppers Holdings, Inc. | 2,251 | 63,478 | |
Kronos Worldwide, Inc. | 1,790 | 16,826 | |
Mercer International, Inc. | 14,440 | 168,082 | |
Minerals Technologies, Inc. | 5,510 | 334,567 | |
Nexa Resources S.A. | 4,350 | 26,230 | |
Olin Corp. | 13,755 | 728,190 | |
Orion Engineered Carbons S.A. | 3,970 | 70,706 | |
Quaker Chemical Corp. | 487 | 81,280 | |
Rayonier Advanced Materials, Inc.* | 18,155 | 174,288 | |
Resolute Forest Products, Inc.* | 12,820 | 276,784 | |
Schnitzer Steel Industries, Inc. - Class A | 3,746 | 114,815 | |
Stepan Co. | 2,210 | 235,277 | |
Sylvamo Corp. | 1,700 | 82,603 | |
Trinseo PLC | 3,270 | 74,262 | |
Tronox Holdings PLC | 22,725 | 311,560 | |
United States Steel Corp. | 31,655 | 792,958 | |
Valvoline, Inc. | 1,030 | 33,629 | |
9,386,839 | |||
COMMUNICATIONS — 1.8% | |||
A10 Networks, Inc. | 1,030 | 17,129 | |
ATN International, Inc. | 2,189 | 99,184 | |
Aviat Networks, Inc.* | 1,080 | 33,685 | |
Calix, Inc.* | 2,160 | 147,809 | |
CarParts.com, Inc.* | 6,990 | 43,757 | |
Cars.com, Inc.* | 8,715 | 120,006 | |
Consolidated Communications Holdings, Inc.* | 4,180 | 14,964 | |
DHI Group, Inc.* | 5,380 | 28,460 | |
EchoStar Corp. - Class A* | 2,830 | 47,204 | |
Entravision Communications Corp. - Class A | 7,065 | 33,912 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
COMMUNICATIONS (Continued) | |||
ePlus, Inc.* | 990 | $43,837 | |
EW Scripps Co. - Class A* | 15,216 | 200,699 | |
Gannett Co., Inc.* | 9,604 | 19,496 | |
Gray Television, Inc. | 17,520 | 196,049 | |
HealthStream, Inc.* | 1,470 | 36,515 | |
IDT Corp. - Class B* | 920 | 25,916 | |
iHeartMedia, Inc.* | 2,440 | 14,957 | |
InterDigital, Inc. | 650 | 32,162 | |
Iridium Communications, Inc.* | 5,660 | 290,924 | |
Lands’ End, Inc.* | 1,880 | 14,269 | |
Liberty Latin America Ltd. - Class A* | 2,120 | 15,964 | |
Maxar Technologies, Inc. | 3,570 | 184,712 | |
NETGEAR, Inc.* | 3,100 | 56,141 | |
Nexstar Media Group, Inc. | 290 | 50,759 | |
Poshmark, Inc. - Class A* | 6,721 | 120,171 | |
Preformed Line Products Co. | 310 | 25,820 | |
QuinStreet, Inc.* | 5,090 | 73,042 | |
Saga Communications, Inc. - Class A | 1,830 | 43,188 | |
Scholastic Corp. | 9,320 | 367,767 | |
Spok Holdings, Inc. | 4,120 | 33,743 | |
Stagwell, Inc.* | 2,060 | 12,793 | |
TEGNA, Inc. | 11,350 | 240,506 | |
Telephone and Data Systems, Inc. | 7,180 | 75,318 | |
United States Cellular Corp.* | 1,780 | 37,113 | |
Viasat, Inc.* | 4,926 | 155,908 | |
World Wrestling Entertainment, Inc. - Class A | 630 | 43,168 | |
Ziff Davis, Inc.* | 490 | 38,759 | |
3,035,806 | |||
CONSUMER, CYCLICAL — 14.9% | |||
Abercrombie & Fitch Co. - Class A* | 7,765 | 177,896 | |
Academy Sports & Outdoors, Inc. | 9,373 | 492,457 | |
Acushnet Holdings Corp. | 1,865 | 79,188 | |
Adient PLC* | 3,580 | 124,190 | |
A-Mark Precious Metals, Inc. | 1,960 | 68,071 | |
American Axle & Manufacturing Holdings, Inc.* | 15,900 | 124,338 | |
American Eagle Outfitters, Inc. | 20,252 | 282,718 | |
Asbury Automotive Group, Inc.* | 1,145 | 205,241 | |
AutoNation, Inc.* | 5,132 | 550,664 | |
Bassett Furniture Industries, Inc. | 3,140 | 54,573 | |
Beacon Roofing Supply, Inc.* | 13,140 | 693,661 | |
Beazer Homes USA, Inc.* | 1,280 | 16,333 | |
Big Lots, Inc. | 2,830 | 41,601 | |
BJ’s Restaurants, Inc.* | 2,701 | 71,252 | |
Bloomin’ Brands, Inc. | 2,033 | 40,904 | |
BlueLinx Holdings, Inc.* | 310 | 22,044 | |
Boyd Gaming Corp. | 1,095 | 59,710 | |
Buckle, Inc. | 2,760 | 125,166 | |
Build-A-Bear Workshop, Inc.* | 1,970 | 46,965 | |
Caleres, Inc. | 7,273 | 162,042 | |
Canterbury Park Holding Corp. | 760 | 23,758 | |
Capri Holdings Ltd.* | 2,740 | 157,057 | |
Carter’s, Inc. | 1,130 | 84,309 | |
Cato Corp. - Class A | 2,030 | 18,940 |
1
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2022 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
CONSUMER, CYCLICAL (Continued) | |||
Century Communities, Inc. | 9,072 | $453,691 | |
Chico’s FAS, Inc.* | 3,530 | 17,368 | |
Chuy’s Holdings, Inc.* | 2,220 | 62,826 | |
Citi Trends, Inc.* | 610 | 16,153 | |
Commercial Vehicle Group, Inc.* | 2,730 | 18,591 | |
Conn’s, Inc.* | 2,390 | 16,443 | |
Container Store Group, Inc.* | 2,930 | 12,628 | |
Crocs, Inc.* | 1,445 | 156,681 | |
Daktronics, Inc.* | 13,700 | 38,634 | |
Dana, Inc. | 21,256 | 321,603 | |
Dave & Buster’s Entertainment, Inc.* | 484 | 17,153 | |
Destination XL Group, Inc.* | 4,850 | 32,738 | |
Dick’s Sporting Goods, Inc. | 3,030 | 364,479 | |
Dillard’s, Inc. - Class A1 | 3,447 | 1,114,070 | |
Dorman Products, Inc.* | 550 | 44,479 | |
Ethan Allen Interiors, Inc. | 6,250 | 165,125 | |
EVI Industries, Inc.* | 1,320 | 31,508 | |
FirstCash Holdings, Inc. | 632 | 54,927 | |
Five Below, Inc.* | 340 | 60,136 | |
Foot Locker, Inc. | 12,510 | 472,753 | |
Forestar Group, Inc.* | 2,210 | 34,056 | |
Fox Factory Holding Corp.* | 880 | 80,282 | |
Full House Resorts, Inc.* | 4,510 | 33,915 | |
Gap, Inc. | 13,256 | 149,528 | |
Genesco, Inc.* | 1,940 | 89,279 | |
G-III Apparel Group Ltd.* | 9,100 | 124,761 | |
GMS, Inc.* | 8,310 | 413,838 | |
Goodyear Tire & Rubber Co.* | 41,566 | 421,895 | |
Green Brick Partners, Inc.* | 4,668 | 113,106 | |
Group 1 Automotive, Inc. | 3,734 | 673,502 | |
Guess?, Inc. | 11,250 | 232,762 | |
H&E Equipment Services, Inc. | 4,365 | 198,171 | |
Hamilton Beach Brands Holding Co. - Class A | 2,891 | 35,819 | |
Haverty Furniture Cos., Inc. | 3,390 | 101,361 | |
Hawaiian Holdings, Inc.* | 1,952 | 20,028 | |
Hibbett, Inc. | 1,470 | 100,283 | |
Hooker Furnishings Corp. | 1,980 | 37,026 | |
IMAX Corp.* | 1,530 | 22,430 | |
Interface, Inc. | 1,260 | 12,436 | |
iRobot Corp.* | 770 | 37,060 | |
Johnson Outdoors, Inc. - Class A | 720 | 47,606 | |
KAR Auction Services, Inc.* | 10,324 | 134,728 | |
KB Home | 4,050 | 128,993 | |
Kontoor Brands, Inc. | 480 | 19,195 | |
La-Z-Boy, Inc. | 6,060 | 138,289 | |
LGI Homes, Inc.* | 926 | 85,748 | |
Life Time Group Holdings, Inc.* | 2,660 | 31,814 | |
Lifetime Brands, Inc. | 2,090 | 15,863 | |
Light & Wonder, Inc.* | 2,732 | 160,095 | |
M/I Homes, Inc.* | 4,285 | 197,881 | |
Macy’s, Inc. | 23,467 | 484,594 | |
Madison Square Garden Entertainment Corp.* | 660 | 29,680 | |
Malibu Boats, Inc. - Class A* | 975 | 51,968 | |
Marcus Corp. | 1,660 | 23,887 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
CONSUMER, CYCLICAL (Continued) | |||
MarineMax, Inc.* | 2,840 | $88,665 | |
Marriott Vacations Worldwide Corp. | 2,670 | 359,355 | |
MDC Holdings, Inc. | 6,693 | 211,499 | |
Meritage Homes Corp.* | 6,376 | 587,867 | |
Methode Electronics, Inc. | 3,040 | 134,885 | |
Miller Industries, Inc. | 2,765 | 73,715 | |
Motorcar Parts of America, Inc.* | 3,680 | 43,645 | |
Movado Group, Inc. | 4,990 | 160,928 | |
MRC Global, Inc.* | 6,980 | 80,828 | |
Murphy USA, Inc. | 900 | 251,586 | |
National Vision Holdings, Inc.* | 3,730 | 144,575 | |
Nu Skin Enterprises, Inc. - Class A | 1,980 | 83,477 | |
ODP Corp.* | 12,650 | 576,081 | |
Oxford Industries, Inc. | 1,590 | 148,156 | |
Papa John’s International, Inc. | 430 | 35,393 | |
Patrick Industries, Inc. | 1,250 | 75,750 | |
PC Connection, Inc. | 4,362 | 204,578 | |
Penn Entertainment, Inc.* | 522 | 15,503 | |
Penske Automotive Group, Inc. | 8,340 | 958,516 | |
PriceSmart, Inc. | 1,270 | 77,191 | |
PVH Corp. | 4,477 | 316,031 | |
RCI Hospitality Holdings, Inc. | 1,190 | 110,896 | |
Resideo Technologies, Inc.* | 14,460 | 237,867 | |
REV Group, Inc. | 9,070 | 114,463 | |
Rocky Brands, Inc. | 1,750 | 41,335 | |
Rush Enterprises, Inc. - Class A | 9,615 | 502,672 | |
Rush Enterprises, Inc. - Class B | 4,575 | 257,435 | |
ScanSource, Inc.* | 3,590 | 104,900 | |
SeaWorld Entertainment, Inc.* | 680 | 36,387 | |
Shoe Carnival, Inc. | 4,490 | 107,356 | |
Signet Jewelers Ltd. | 5,721 | 389,028 | |
Skechers USA, Inc. - Class A* | 3,600 | 151,020 | |
SkyWest, Inc.* | 8,065 | 133,153 | |
Sonic Automotive, Inc. - Class A | 4,710 | 232,062 | |
Sonos, Inc.* | 2,150 | 36,335 | |
Spirit Airlines, Inc.* | 13,355 | 260,155 | |
Sportsman’s Warehouse Holdings, Inc.* | 3,460 | 32,559 | |
Standard Motor Products, Inc. | 1,390 | 48,372 | |
Steelcase, Inc. - Class A | 9,915 | 70,099 | |
Superior Industries International, Inc.* | 4,420 | 18,652 | |
Tapestry, Inc. | 2,140 | 81,491 | |
Taylor Morrison Home Corp.* | 23,773 | 721,511 | |
Texas Roadhouse, Inc. | 550 | 50,023 | |
Thor Industries, Inc. | 3,280 | 247,607 | |
Tilly’s, Inc. - Class A* | 3,030 | 27,422 | |
Titan International, Inc.* | 1,310 | 20,069 | |
Titan Machinery, Inc.* | 8,300 | 329,759 | |
Toll Brothers, Inc. | 3,140 | 156,749 | |
Topgolf Callaway Brands Corp.* | 2,480 | 48,980 | |
TravelCenters of America, Inc.* | 2,060 | 92,247 | |
Tri Pointe Homes, Inc.* | 23,150 | 430,358 | |
Under Armour, Inc. - Class A* | 11,800 | 119,888 | |
UniFirst Corp. | 600 | 115,794 | |
Univar Solutions, Inc.* | 10,790 | 343,122 | |
Urban Outfitters, Inc.* | 9,093 | 216,868 | |
Veritiv Corp. | 3,443 | 419,048 |
2
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2022 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
CONSUMER, CYCLICAL (Continued) | |||
Vista Outdoor, Inc.* | 5,700 | $138,909 | |
VSE Corp. | 1,160 | 54,381 | |
Wabash National Corp. | 7,270 | 164,302 | |
WESCO International, Inc.* | 10,108 | 1,265,522 | |
Wingstop, Inc. | 180 | 24,772 | |
Winmark Corp. | 230 | 54,241 | |
Winnebago Industries, Inc. | 4,045 | 213,171 | |
World Fuel Services Corp. | 9,090 | 248,430 | |
Zumiez, Inc.* | 4,710 | 102,395 | |
24,876,972 | |||
CONSUMER, NON-CYCLICAL — 10.9% | |||
Aaron’s Co., Inc. | 3,340 | 39,913 | |
ABM Industries, Inc. | 12,435 | 552,363 | |
Acacia Research Corp.* | 6,260 | 26,355 | |
Acadia Healthcare Co., Inc.* | 16,175 | 1,331,526 | |
ACCO Brands Corp. | 13,780 | 77,030 | |
AdaptHealth Corp.* | 2,430 | 46,705 | |
Addus HomeCare Corp.* | 780 | 77,602 | |
Adtalem Global Education, Inc.* | 12,190 | 432,745 | |
Allakos, Inc.* | 7,630 | 64,245 | |
American Public Education, Inc.* | 3,300 | 40,557 | |
Andersons, Inc. | 7,070 | 247,379 | |
AngioDynamics, Inc.* | 5,530 | 76,148 | |
ANI Pharmaceuticals, Inc.* | 1,450 | 58,333 | |
Anika Therapeutics, Inc.* | 1,700 | 50,320 | |
API Group Corp.* | 1,140 | 21,443 | |
Assertio Holdings, Inc.* | 12,330 | 53,019 | |
Avanos Medical, Inc.* | 810 | 21,919 | |
Avidity Biosciences, Inc.* | 3,630 | 80,550 | |
BGSF, Inc. | 1,690 | 25,891 | |
Bioxcel Therapeutics, Inc.* | 1,780 | 38,234 | |
BrightView Holdings, Inc.* | 2,580 | 17,776 | |
Brookdale Senior Living, Inc.* | 15,305 | 41,783 | |
Cabaletta Bio, Inc.*1 | 4,690 | 43,382 | |
Cal-Maine Foods, Inc. | 1,913 | 104,163 | |
Castle Biosciences, Inc.* | 1,480 | 34,839 | |
Catalyst Pharmaceuticals, Inc.* | 1,450 | 26,970 | |
CBIZ, Inc.* | 11,660 | 546,271 | |
Central Garden & Pet Co. - Class A* | 6,990 | 250,242 | |
Chefs’ Warehouse, Inc.* | 960 | 31,949 | |
ChromaDex Corp.* | 13,630 | 22,898 | |
Coca-Cola Consolidated, Inc. | 290 | 148,584 | |
Community Health Systems, Inc.* | 16,690 | 72,101 | |
Coty, Inc. - Class A* | 8,048 | 68,891 | |
CRA International, Inc. | 1,510 | 184,869 | |
Cross Country Healthcare, Inc.* | 1,400 | 37,198 | |
CVRx, Inc.* | 3,340 | 61,289 | |
Cytokinetics, Inc.* | 820 | 37,572 | |
Edgewell Personal Care Co. | 8,160 | 314,486 | |
Embecta Corp. | 500 | 12,645 | |
Emergent BioSolutions, Inc.* | 2,064 | 24,376 | |
Ennis, Inc. | 5,900 | 130,744 | |
Ensign Group, Inc. | 920 | 87,041 | |
Flowers Foods, Inc. | 1,810 | 52,019 | |
FONAR Corp.* | 1,120 | 18,760 | |
Frequency Therapeutics, Inc.* | 9,690 | 37,307 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
CONSUMER, NON-CYCLICAL (Continued) | |||
Fresh Del Monte Produce, Inc. | 11,020 | $288,614 | |
FTI Consulting, Inc.* | 650 | 103,220 | |
Fulgent Genetics, Inc.* | 530 | 15,783 | |
Graham Holdings Co. - Class B | 570 | 344,400 | |
Grand Canyon Education, Inc.* | 840 | 88,754 | |
Green Dot Corp. - Class A* | 1,220 | 19,300 | |
Haemonetics Corp.* | 651 | 51,201 | |
Halozyme Therapeutics, Inc.* | 1,539 | 87,569 | |
Healthcare Services Group, Inc. | 1,911 | 22,932 | |
Heidrick & Struggles International, Inc. | 2,325 | 65,030 | |
Herc Holdings, Inc. | 1,653 | 217,485 | |
Hostess Brands, Inc.* | 24,230 | 543,721 | |
Huron Consulting Group, Inc.* | 2,590 | 188,034 | |
ICF International, Inc. | 3,433 | 340,039 | |
Immunovant, Inc.* | 1,790 | 31,773 | |
Ingles Markets, Inc. - Class A | 5,997 | 578,471 | |
Ingredion, Inc. | 540 | 52,882 | |
Innoviva, Inc.* | 1,040 | 13,780 | |
Insperity, Inc. | 840 | 95,424 | |
Integer Holdings Corp.* | 4,160 | 284,794 | |
iTeos Therapeutics, Inc.* | 770 | 15,038 | |
John B Sanfilippo & Son, Inc. | 850 | 69,122 | |
KalVista Pharmaceuticals, Inc.* | 4,680 | 31,637 | |
Kelly Services, Inc. - Class A | 5,140 | 86,866 | |
Korn Ferry | 7,665 | 388,002 | |
Lancaster Colony Corp. | 130 | 25,649 | |
Larimar Therapeutics, Inc.* | 3,570 | 14,744 | |
Laureate Education, Inc. | 12,050 | 115,921 | |
Lifecore Biomedical, Inc.* | 1,340 | 8,683 | |
Ligand Pharmaceuticals, Inc.* | 1,260 | 84,168 | |
LiveRamp Holdings, Inc.* | 3,989 | 93,502 | |
ManpowerGroup, Inc. | 990 | 82,378 | |
Medpace Holdings, Inc.* | 510 | 108,329 | |
Meridian Bioscience, Inc.* | 2,670 | 88,671 | |
Mission Produce, Inc.* | 2,140 | 24,867 | |
Monro, Inc. | 1,452 | 65,630 | |
Monte Rosa Therapeutics, Inc.* | 1,680 | 12,785 | |
National HealthCare Corp. | 2,250 | 133,875 | |
National Research Corp. | 3,800 | 141,740 | |
Natural Grocers by Vitamin Cottage, Inc.1 | 2,730 | 24,952 | |
NeoGenomics, Inc.* | 4,330 | 40,009 | |
OmniAb, Inc - Earnout Shares2 | 477 | — | |
OmniAb, Inc - Earnout Shares2 | 477 | — | |
OmniAb, Inc.* | 6,174 | 22,227 | |
OraSure Technologies, Inc.* | 6,890 | 33,210 | |
Orthofix Medical, Inc.* | 2,350 | 48,245 | |
Owens & Minor, Inc. | 5,020 | 98,041 | |
Patterson Cos., Inc. | 3,095 | 86,753 | |
Pediatrix Medical Group, Inc.* | 2,863 | 42,544 | |
Perdoceo Education Corp.* | 9,170 | 127,463 | |
Performant Financial Corp.* | 12,430 | 44,872 | |
Pilgrim’s Pride Corp.* | 3,110 | 73,800 | |
Poseida Therapeutics, Inc.* | 8,990 | 47,647 | |
Post Holdings, Inc.* | 1,880 | 169,689 | |
Premier, Inc. - Class A | 1,320 | 46,174 | |
Prestige Consumer Healthcare, Inc.* | 6,885 | 431,001 |
3
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2022 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
CONSUMER, NON-CYCLICAL (Continued) | |||
Quad/Graphics, Inc.* | 8,410 | $34,313 | |
Quanex Building Products Corp. | 7,975 | 188,848 | |
Quanterix Corp.* | 2,560 | 35,456 | |
REGENXBIO, Inc.* | 2,932 | 66,498 | |
Rent-A-Center, Inc. | 1,570 | 35,404 | |
Repay Holdings Corp.* | 4,050 | 32,603 | |
Reynolds Consumer Products, Inc. | 591 | 17,718 | |
SEACOR Marine Holdings, Inc.* | 2,520 | 23,083 | |
Select Medical Holdings Corp. | 2,524 | 62,671 | |
Seneca Foods Corp. - Class A* | 2,340 | 142,623 | |
Simply Good Foods Co.* | 860 | 32,706 | |
Singular Genomics Systems, Inc.* | 7,430 | 14,934 | |
SpartanNash Co. | 11,853 | 358,435 | |
Sprouts Farmers Market, Inc.* | 4,288 | 138,803 | |
Strategic Education, Inc. | 1,640 | 128,445 | |
Stride, Inc.* | 9,295 | 290,748 | |
Supernus Pharmaceuticals, Inc.* | 4,153 | 148,138 | |
Tactile Systems Technology, Inc.* | 5,990 | 68,765 | |
Textainer Group Holdings Ltd. | 11,095 | 344,056 | |
TreeHouse Foods, Inc.* | 5,067 | 250,208 | |
Triton International Ltd. | 17,455 | 1,200,555 | |
TrueBlue, Inc.* | 5,620 | 110,040 | |
United Natural Foods, Inc.* | 17,993 | 696,509 | |
Universal Corp. | 400 | 21,124 | |
V2X, Inc.* | 760 | 31,380 | |
Vanda Pharmaceuticals, Inc.* | 4,880 | 36,063 | |
Varex Imaging Corp.* | 2,920 | 59,276 | |
Veracyte, Inc.* | 2,203 | 52,277 | |
Village Super Market, Inc. - Class A | 2,780 | 64,746 | |
Vintage Wine Estates, Inc.* | 7,470 | 24,352 | |
Vivint Smart Home, Inc.* | 2,540 | 30,226 | |
Weis Markets, Inc. | 7,909 | 650,832 | |
WillScot Mobile Mini Holdings Corp.* | 16,184 | 731,031 | |
Xencor, Inc.* | 1,840 | 47,914 | |
Zimvie, Inc.* | 3,680 | 34,371 | |
18,337,023 | |||
ENERGY — 10.8% | |||
Adams Resources & Energy, Inc. | 1,150 | 44,758 | |
Alpha Metallurgical Resources, Inc. | 1,658 | 242,715 | |
Antero Midstream Corp. | 9,560 | 103,152 | |
Antero Resources Corp.* | 27,832 | 862,514 | |
APA Corp. | 4,350 | 203,058 | |
Arch Resources, Inc. | 2,390 | 341,268 | |
Archrock, Inc. | 23,030 | 206,809 | |
Berry Corp. | 2,115 | 16,920 | |
Bristow Group, Inc.* | 2,230 | 60,500 | |
ChampionX Corp. | 3,890 | 112,771 | |
Chesapeake Energy Corp. | 3,645 | 343,979 | |
Chord Energy Corp. | 5,281 | 722,494 | |
Civeo Corp.* | 670 | 20,837 | |
Civitas Resources, Inc. | 8,799 | 509,726 | |
CNX Resources Corp.* | 31,011 | 522,225 | |
Comstock Resources, Inc. | 11,463 | 157,158 | |
CONSOL Energy, Inc. | 8,361 | 543,465 | |
CVR Energy, Inc. | 5,666 | 177,572 | |
Delek U.S. Holdings, Inc. | 4,316 | 116,532 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
ENERGY (Continued) | |||
Denbury, Inc.* | 1,516 | $131,922 | |
Devon Energy Corp. | 8,095 | 497,923 | |
Diamond Offshore Drilling, Inc.* | 1,800 | 18,720 | |
Diamondback Energy, Inc. | 2,819 | 385,583 | |
Dril-Quip, Inc.* | 3,480 | 94,552 | |
EnLink Midstream LLC | 37,282 | 458,569 | |
EQT Corp. | 10,869 | 367,698 | |
Equitrans Midstream Corp. | 17,398 | 116,567 | |
Excelerate Energy, Inc. - Class A | 1,070 | 26,804 | |
Expro Group Holdings N.V.* | 4,505 | 81,676 | |
FutureFuel Corp. | 7,600 | 61,788 | |
Golar LNG Ltd.* | 2,905 | 66,205 | |
Green Plains, Inc.* | 5,094 | 155,367 | |
Helix Energy Solutions Group, Inc.* | 24,350 | 179,703 | |
Helmerich & Payne, Inc. | 18,269 | 905,594 | |
HF Sinclair Corp. | 2,665 | 138,287 | |
KLX Energy Services Holdings, Inc.* | 2,840 | 49,160 | |
Kosmos Energy Ltd.* | 9,936 | 63,193 | |
Matador Resources Co. | 14,435 | 826,259 | |
Murphy Oil Corp. | 33,835 | 1,455,243 | |
Nabors Industries Ltd.* | 1,018 | 157,658 | |
NACCO Industries, Inc. - Class A | 940 | 35,720 | |
National Energy Services Reunited Corp.* | 4,950 | 34,353 | |
Newpark Resources, Inc.* | 15,505 | 64,346 | |
Nine Energy Service, Inc.* | 3,570 | 51,872 | |
Noble Corp. PLC* | 1,402 | 52,869 | |
Northern Oil and Gas, Inc. | 674 | 20,773 | |
NOV, Inc. | 14,330 | 299,354 | |
NOW, Inc.*1 | 14,795 | 187,896 | |
Oceaneering International, Inc.* | 4,850 | 84,827 | |
Oil States International, Inc.* | 17,205 | 128,349 | |
Patterson-UTI Energy, Inc. | 25,683 | 432,502 | |
PBF Energy, Inc. - Class A | 23,447 | 956,169 | |
PDC Energy, Inc. | 15,540 | 986,479 | |
Peabody Energy Corp.* | 18,843 | 497,832 | |
Permian Resources Corp. | 24,836 | 233,458 | |
Pioneer Natural Resources Co. | 908 | 207,378 | |
ProPetro Holding Corp.* | 13,000 | 134,810 | |
Ramaco Resources, Inc. | 4,300 | 37,797 | |
Range Resources Corp. | 4,526 | 113,241 | |
REX American Resources Corp.* | 1,500 | 47,790 | |
Riley Exploration Permian, Inc.1 | 670 | 19,718 | |
RPC, Inc. | 7,310 | 64,986 | |
SandRidge Energy, Inc.* | 2,136 | 36,376 | |
Select Energy Services, Inc. - Class A | 13,790 | 127,420 | |
Sitio Royalties Corp. - Class A | 895 | 25,823 | |
SM Energy Co. | 7,722 | 268,957 | |
SunCoke Energy, Inc. | 24,340 | 210,054 | |
Talos Energy, Inc.* | 7,338 | 138,541 | |
Targa Resources Corp. | 4,100 | 301,350 | |
TechnipFMC PLC* | 8,650 | 105,444 | |
Tidewater, Inc.* | 3,030 | 111,655 | |
Transocean Ltd.* | 15,890 | 72,458 | |
U.S. Silica Holdings, Inc.* | 9,189 | 114,862 | |
Valaris Ltd.* | 280 | 18,934 |
4
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2022 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
ENERGY (Continued) | |||
Warrior Met Coal, Inc. | 8,065 | $279,372 | |
18,050,689 | |||
FINANCIAL — 27.6% | |||
1st Source Corp. | 4,832 | 256,531 | |
Air Lease Corp. | 22,794 | 875,745 | |
Amalgamated Financial Corp. | 3,590 | 82,714 | |
Ambac Financial Group, Inc.* | 6,390 | 111,442 | |
Amerant Bancorp, Inc. | 2,790 | 74,884 | |
American Equity Investment Life Holding Co. | 30,682 | 1,399,713 | |
American National Bankshares, Inc. | 1,050 | 38,777 | |
Ameris Bancorp | 5,646 | 266,152 | |
AMERISAFE, Inc. | 2,040 | 106,019 | |
Anywhere Real Estate, Inc.* | 13,110 | 83,773 | |
Argo Group International Holdings Ltd. | 8,248 | 213,211 | |
Associated Banc-Corp | 27,365 | 631,858 | |
Assured Guaranty Ltd. | 8,508 | 529,708 | |
Atlantic Union Bankshares Corp. | 14,623 | 513,852 | |
Axis Capital Holdings Ltd. | 6,755 | 365,918 | |
Axos Financial, Inc.* | 4,770 | 182,309 | |
Banc of California, Inc. | 11,460 | 182,558 | |
BancFirst Corp. | 994 | 87,651 | |
Bancorp, Inc.* | 3,567 | 101,231 | |
Bank of Marin Bancorp | 990 | 32,551 | |
Bank of NT Butterfield & Son Ltd. | 1,180 | 35,176 | |
Bank OZK | 12,739 | 510,324 | |
Bank7 Corp. | 770 | 19,712 | |
BankFinancial Corp. | 3,130 | 32,959 | |
BankUnited, Inc. | 11,063 | 375,810 | |
Bankwell Financial Group, Inc. | 515 | 15,156 | |
Banner Corp. | 7,600 | 480,320 | |
Bar Harbor Bankshares | 2,360 | 75,614 | |
BCB Bancorp, Inc. | 3,960 | 71,240 | |
Berkshire Hills Bancorp, Inc. | 8,586 | 256,721 | |
Blucora, Inc.* | 6,640 | 169,519 | |
Bread Financial Holdings, Inc. | 2,360 | 88,878 | |
Bridgewater Bancshares, Inc.* | 1,870 | 33,174 | |
Brighthouse Financial, Inc.* | 9,179 | 470,607 | |
Brookline Bancorp, Inc. | 10,365 | 146,665 | |
Business First Bancshares, Inc. | 1,320 | 29,225 | |
Byline Bancorp, Inc. | 2,860 | 65,694 | |
C&F Financial Corp. | 570 | 33,214 | |
Cadence Bank | 16,541 | 407,901 | |
Camden National Corp. | 691 | 28,808 | |
Capital City Bank Group, Inc. | 1,310 | 42,575 | |
Capitol Federal Financial, Inc. | 7,820 | 67,643 | |
Carter Bankshares, Inc.* | 1,610 | 26,710 | |
Cathay General Bancorp | 8,740 | 356,505 | |
Central Pacific Financial Corp. | 1,380 | 27,986 | |
Central Valley Community Bancorp | 1,800 | 38,124 | |
Chemung Financial Corp. | 680 | 31,192 | |
City Holding Co. | 1,969 | 183,294 | |
CNB Financial Corp. | 2,560 | 60,902 | |
CNO Financial Group, Inc. | 27,099 | 619,212 | |
Columbia Banking System, Inc. | 3,430 | 103,346 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
FINANCIAL (Continued) | |||
Community Bank System, Inc. | 3,112 | $195,900 | |
Community Trust Bancorp, Inc. | 1,470 | 67,517 | |
ConnectOne Bancorp, Inc. | 6,500 | 157,365 | |
Consumer Portfolio Services, Inc.* | 2,737 | 24,222 | |
Cowen, Inc. - Class A | 6,900 | 266,478 | |
CrossFirst Bankshares, Inc.* | 1,140 | 14,147 | |
Customers Bancorp, Inc.* | 6,645 | 188,319 | |
CVB Financial Corp. | 9,500 | 244,625 | |
Dime Community Bancshares, Inc. | 5,499 | 175,033 | |
Donegal Group, Inc. - Class A | 1,421 | 20,178 | |
Eagle Bancorp, Inc. | 1,547 | 68,176 | |
eHealth, Inc.* | 5,500 | 26,620 | |
Employers Holdings, Inc. | 7,089 | 305,749 | |
Enact Holdings, Inc. | 2,253 | 54,342 | |
Encore Capital Group, Inc.* | 4,380 | 209,977 | |
Enova International, Inc.* | 3,015 | 115,686 | |
Enstar Group Ltd.* | 1,260 | 291,110 | |
Enterprise Bancorp, Inc. | 980 | 34,594 | |
Enterprise Financial Services Corp. | 3,205 | 156,917 | |
Equity Bancshares, Inc. - Class A | 750 | 24,503 | |
Esquire Financial Holdings, Inc. | 959 | 41,486 | |
ESSA Bancorp, Inc. | 1,880 | 39,236 | |
Essent Group Ltd. | 4,027 | 156,570 | |
EZCORP, Inc. - Class A* | 9,420 | 76,773 | |
Federal Agricultural Mortgage Corp. - Class C | 1,238 | 139,535 | |
Financial Institutions, Inc. | 3,770 | 91,837 | |
First BanCorp/Puerto Rico | 64,240 | 817,133 | |
First Bancorp/Southern Pines NC | 2,224 | 95,276 | |
First Bancshares, Inc. | 566 | 18,118 | |
First Bank/Hamilton NJ | 1,170 | 16,099 | |
First Busey Corp. | 5,489 | 135,688 | |
First Business Financial Services, Inc. | 1,320 | 48,246 | |
First Citizens BancShares, Inc. - Class A | 118 | 89,486 | |
First Commonwealth Financial Corp. | 18,870 | 263,614 | |
First Community Bankshares, Inc. | 1,750 | 59,325 | |
First Financial Bancorp | 17,283 | 418,767 | |
First Financial Bankshares, Inc. | 1,873 | 64,431 | |
First Financial Corp. | 1,821 | 83,912 | |
First Financial Northwest, Inc. | 2,600 | 38,948 | |
First Foundation, Inc. | 3,480 | 49,868 | |
First Horizon Corp. | 19,892 | 487,354 | |
First Internet Bancorp | 650 | 15,782 | |
First Interstate BancSystem, Inc. - Class A | 8,936 | 345,376 | |
First Merchants Corp. | 6,962 | 286,208 | |
First Mid Bancshares, Inc. | 732 | 23,483 | |
Five Star Bancorp | 660 | 17,978 | |
Flushing Financial Corp. | 4,110 | 79,652 | |
FNB Corp. | 33,797 | 441,051 | |
FRP Holdings, Inc.* | 1,070 | 57,630 | |
Fulton Financial Corp. | 40,731 | 685,503 | |
Genworth Financial, Inc. - Class A* | 101,308 | 535,919 | |
Glacier Bancorp, Inc. | 3,330 | 164,569 | |
Great Southern Bancorp, Inc. | 1,415 | 84,178 | |
Guaranty Bancshares, Inc. | 860 | 29,790 |
5
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2022 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
FINANCIAL (Continued) | |||
Hancock Whitney Corp. | 15,663 | $757,933 | |
Hanmi Financial Corp. | 9,080 | 224,730 | |
Hanover Insurance Group, Inc. | 1,150 | 155,399 | |
HarborOne Bancorp, Inc. | 1,720 | 23,908 | |
Heartland Financial USA, Inc. | 5,040 | 234,965 | |
Heritage Commerce Corp. | 6,040 | 78,520 | |
Heritage Financial Corp. | 1,618 | 49,576 | |
Hilltop Holdings, Inc. | 9,967 | 299,110 | |
Home Bancorp, Inc. | 940 | 37,628 | |
HomeStreet, Inc. | 6,330 | 174,581 | |
HomeTrust Bancshares, Inc. | 1,340 | 32,388 | |
Hope Bancorp, Inc. | 19,307 | 247,323 | |
Horace Mann Educators Corp. | 13,271 | 495,937 | |
Horizon Bancorp, Inc. | 3,741 | 56,414 | |
Howard Hughes Corp.* | 3,135 | 239,577 | |
Huntington Bancshares, Inc. | 5,554 | 78,311 | |
Independent Bank Corp. | 2,580 | 61,714 | |
Independent Bank Corp. | 1,175 | 99,205 | |
Independent Bank Group, Inc. | 6,955 | 417,856 | |
International Bancshares Corp. | 11,895 | 544,315 | |
International Money Express, Inc.* | 1,498 | 36,506 | |
Invesco Ltd. | 2,240 | 40,298 | |
Investors Title Co. | 170 | 25,084 | |
Jackson Financial, Inc. - Class A | 7,673 | 266,944 | |
Janus Henderson Group PLC | 3,965 | 93,257 | |
Kearny Financial Corp. | 9,692 | 98,374 | |
Kemper Corp. | 6,014 | 295,889 | |
Kinsale Capital Group, Inc. | 100 | 26,152 | |
Lakeland Bancorp, Inc. | 12,605 | 221,974 | |
Lakeland Financial Corp. | 1,643 | 119,890 | |
LCNB Corp. | 1,420 | 25,560 | |
Legacy Housing Corp.* | 3,270 | 61,999 | |
LPL Financial Holdings, Inc. | 240 | 51,881 | |
Luther Burbank Corp. | 1,110 | 12,332 | |
Marcus & Millichap, Inc. | 960 | 33,072 | |
MBIA, Inc.* | 3,030 | 38,936 | |
McGrath RentCorp | 3,825 | 377,680 | |
Mercantile Bank Corp. | 1,560 | 52,229 | |
Merchants Bancorp | 1,630 | 39,642 | |
Meridian Corp. | 1,190 | 36,045 | |
Metrocity Bankshares, Inc. | 1,580 | 34,175 | |
Metropolitan Bank Holding Corp.* | 810 | 47,523 | |
MGIC Investment Corp. | 24,700 | 321,100 | |
Middlefield Banc Corp. | 1,400 | 38,360 | |
Midland States Bancorp, Inc. | 3,660 | 97,429 | |
MidWestOne Financial Group, Inc. | 1,400 | 44,450 | |
Mr Cooper Group, Inc.* | 13,522 | 542,638 | |
National Bank Holdings Corp. - Class A | 810 | 34,077 | |
National Western Life Group, Inc. - Class A | 510 | 143,310 | |
Navient Corp. | 35,164 | 578,448 | |
NBT Bancorp, Inc. | 1,180 | 51,236 | |
Nelnet, Inc. - Class A | 6,130 | 556,297 | |
New York Community Bancorp, Inc. | 77,921 | 670,121 | |
Nicholas Financial, Inc.* | 2,760 | 17,416 | |
Nicolet Bankshares, Inc.* | 697 | 55,614 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
FINANCIAL (Continued) | |||
NMI Holdings, Inc. - Class A* | 11,417 | $238,615 | |
Northeast Bank | 1,190 | 50,099 | |
Northfield Bancorp, Inc. | 5,760 | 90,605 | |
Northrim BanCorp, Inc. | 1,860 | 101,500 | |
Northwest Bancshares, Inc. | 20,841 | 291,357 | |
Oak Valley Bancorp | 1,810 | 40,997 | |
OceanFirst Financial Corp. | 9,221 | 195,946 | |
Ocwen Financial Corp.* | 1,080 | 33,026 | |
OFG Bancorp | 14,730 | 405,959 | |
Old National Bancorp | 43,926 | 789,789 | |
Old Second Bancorp, Inc. | 3,850 | 61,754 | |
OneMain Holdings, Inc. | 1,350 | 44,969 | |
Oppenheimer Holdings, Inc. - Class A | 2,050 | 86,777 | |
Pacific Premier Bancorp, Inc. | 15,980 | 504,329 | |
Park National Corp. | 325 | 45,744 | |
Pathward Financial, Inc. | 2,575 | 110,854 | |
PCB Bancorp | 1,150 | 20,344 | |
Peapack-Gladstone Financial Corp. | 3,435 | 127,851 | |
PennyMac Financial Services, Inc. | 4,200 | 237,972 | |
Peoples Bancorp, Inc. | 4,336 | 122,492 | |
Peoples Financial Services Corp. | 780 | 40,435 | |
Pinnacle Financial Partners, Inc. | 2,427 | 178,142 | |
Piper Sandler Cos. | 1,744 | 227,051 | |
Popular, Inc. | 9,970 | 661,210 | |
PRA Group, Inc.* | 1,425 | 48,137 | |
Preferred Bank/Los Angeles CA | 3,990 | 297,734 | |
Premier Financial Corp. | 3,094 | 83,445 | |
Primerica, Inc. | 590 | 83,674 | |
Primis Financial Corp. | 2,444 | 28,961 | |
ProAssurance Corp. | 5,135 | 89,708 | |
Provident Financial Holdings, Inc. | 1,180 | 16,249 | |
Provident Financial Services, Inc. | 20,160 | 430,618 | |
QCR Holdings, Inc. | 960 | 47,654 | |
Radian Group, Inc. | 4,520 | 86,196 | |
RBB Bancorp | 1,530 | 31,901 | |
Regional Management Corp. | 1,900 | 53,352 | |
Reinsurance Group of America, Inc. | 199 | 28,276 | |
RenaissanceRe Holdings Ltd. | 369 | 67,981 | |
Renasant Corp. | 11,233 | 422,248 | |
Republic Bancorp, Inc. - Class A | 1,290 | 52,787 | |
Riverview Bancorp, Inc. | 5,078 | 38,999 | |
RLI Corp. | 220 | 28,879 | |
S&T Bancorp, Inc. | 2,273 | 77,691 | |
Safety Insurance Group, Inc. | 1,660 | 139,872 | |
Sandy Spring Bancorp, Inc. | 4,031 | 142,012 | |
Seacoast Banking Corp. of Florida | 4,485 | 139,887 | |
Security National Financial Corp. - Class A* | 3,780 | 27,594 | |
Selective Insurance Group, Inc. | 4,494 | 398,213 | |
ServisFirst Bancshares, Inc. | 420 | 28,942 | |
Shore Bancshares, Inc. | 1,750 | 30,503 | |
Sierra Bancorp | 2,330 | 49,489 | |
Simmons First National Corp. - Class A | 17,587 | 379,527 | |
SiriusPoint Ltd.* | 20,410 | 120,419 | |
SLM Corp. | 2,230 | 37,018 | |
SmartFinancial, Inc. | 1,270 | 34,925 |
6
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2022 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
FINANCIAL (Continued) | |||
South Plains Financial, Inc. | 1,310 | $36,064 | |
Southern First Bancshares, Inc.* | 730 | 33,398 | |
Southern Missouri Bancorp, Inc. | 340 | 15,582 | |
Southside Bancshares, Inc. | 2,866 | 103,147 | |
SouthState Corp. | 5,043 | 385,083 | |
Stellar Bancorp, Inc. | 3,689 | 108,678 | |
Stewart Information Services Corp. | 2,340 | 99,988 | |
Stifel Financial Corp. | 4,350 | 253,909 | |
Stock Yards Bancorp, Inc. | 1,700 | 110,466 | |
StoneX Group, Inc.* | 2,991 | 285,042 | |
Summit Financial Group, Inc. | 2,091 | 52,045 | |
Synovus Financial Corp. | 1,775 | 66,651 | |
Territorial Bancorp, Inc. | 1,480 | 35,535 | |
Texas Capital Bancshares, Inc.* | 8,932 | 538,689 | |
Timberland Bancorp, Inc. | 1,578 | 53,857 | |
Tiptree, Inc. | 10,430 | 144,351 | |
Tompkins Financial Corp. | 769 | 59,659 | |
Towne Bank/Portsmouth VA | 2,010 | 61,988 | |
TriCo Bancshares | 2,653 | 135,276 | |
TrustCo Bank Corp. NY | 4,130 | 155,247 | |
Trustmark Corp. | 10,157 | 354,581 | |
Umpqua Holdings Corp. | 15,880 | 283,458 | |
United Bankshares, Inc. | 10,232 | 414,294 | |
United Community Banks, Inc. | 12,012 | 406,006 | |
United Fire Group, Inc. | 5,920 | 161,971 | |
Unity Bancorp, Inc. | 1,193 | 32,605 | |
Universal Insurance Holdings, Inc. | 3,740 | 39,607 | |
Univest Financial Corp. | 5,540 | 144,760 | |
Unum Group | 19,969 | 819,328 | |
USCB Financial Holdings, Inc.* | 1,120 | 13,664 | |
Valley National Bancorp | 35,023 | 396,110 | |
Veritex Holdings, Inc. | 3,800 | 106,704 | |
Walker & Dunlop, Inc. | 1,974 | 154,920 | |
Washington Federal, Inc. | 19,450 | 652,547 | |
Waterstone Financial, Inc. | 1,894 | 32,653 | |
Webster Financial Corp. | 10,796 | 511,083 | |
WesBanco, Inc. | 11,601 | 429,005 | |
Western New England Bancorp, Inc. | 9,460 | 89,492 | |
White Mountains Insurance Group Ltd. | 235 | 332,368 | |
Wintrust Financial Corp. | 3,805 | 321,599 | |
WSFS Financial Corp. | 6,921 | 313,798 | |
46,172,326 | |||
INDUSTRIAL — 15.9% | |||
AAON, Inc. | 910 | 68,541 | |
AAR Corp.* | 8,900 | 399,610 | |
Acuity Brands, Inc. | 820 | 135,800 | |
Aerojet Rocketdyne Holdings, Inc.* | 1,170 | 65,438 | |
Air Transport Services Group, Inc.* | 5,460 | 141,851 | |
Alamo Group, Inc. | 640 | 90,624 | |
Altra Industrial Motion Corp. | 3,380 | 201,955 | |
American Woodmark Corp.* | 1,310 | 64,007 | |
Apogee Enterprises, Inc. | 2,560 | 113,818 | |
Applied Industrial Technologies, Inc. | 910 | 114,687 | |
ArcBest Corp. | 7,670 | 537,207 | |
Arcosa, Inc. | 4,069 | 221,109 | |
Ardmore Shipping Corp.* | 5,140 | 74,067 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
INDUSTRIAL (Continued) | |||
Astec Industries, Inc. | 1,707 | $69,407 | |
Atkore, Inc.* | 1,845 | 209,260 | |
Atlas Air Worldwide Holdings, Inc.* | 8,775 | 884,520 | |
Avnet, Inc. | 8,956 | 372,390 | |
AZEK Co., Inc.* | 3,510 | 71,323 | |
AZZ, Inc. | 1,200 | 48,240 | |
Barnes Group, Inc. | 8,180 | 334,153 | |
Bel Fuse, Inc. - Class B | 1,950 | 64,194 | |
Benchmark Electronics, Inc. | 10,280 | 274,373 | |
Boise Cascade Co. | 7,275 | 499,574 | |
Brady Corp. - Class A | 2,395 | 112,804 | |
Cactus, Inc. - Class A | 1,045 | 52,522 | |
CECO Environmental Corp.* | 5,800 | 67,744 | |
CIRCOR International, Inc.* | 1,710 | 40,972 | |
Columbus McKinnon Corp. | 4,160 | 135,075 | |
Comfort Systems USA, Inc. | 1,899 | 218,537 | |
Comtech Telecommunications Corp. | 5,380 | 65,313 | |
Concrete Pumping Holdings, Inc.* | 2,760 | 16,146 | |
Core Molding Technologies, Inc.* | 1,409 | 18,303 | |
Costamare, Inc. | 17,157 | 159,217 | |
Covenant Logistics Group, Inc. | 4,572 | 158,054 | |
CTS Corp. | 790 | 31,142 | |
Curtiss-Wright Corp. | 275 | 45,922 | |
DHT Holdings, Inc. | 36,180 | 321,278 | |
Dorian LPG Ltd. | 6,631 | 125,657 | |
Ducommun, Inc.* | 2,007 | 100,270 | |
DXP Enterprises, Inc.* | 2,090 | 57,580 | |
Dycom Industries, Inc.* | 2,500 | 234,000 | |
Eagle Bulk Shipping, Inc. | 2,970 | 148,322 | |
Eagle Materials, Inc. | 430 | 57,126 | |
Eastern Co. | 700 | 13,496 | |
EMCOR Group, Inc. | 1,320 | 195,505 | |
Encore Wire Corp. | 5,520 | 759,331 | |
Enerpac Tool Group Corp. | 2,510 | 63,879 | |
EnerSys | 1,320 | 97,469 | |
Enovis Corp.* | 5,233 | 280,070 | |
EnPro Industries, Inc. | 4,765 | 517,908 | |
Esab Corp. | 7,113 | 333,742 | |
ESCO Technologies, Inc. | 3,051 | 267,085 | |
Federal Signal Corp. | 6,048 | 281,051 | |
Fluor Corp.* | 7,304 | 253,157 | |
Frontline Ltd./Bermuda1 | 14,410 | 174,937 | |
GATX Corp. | 8,215 | 873,583 | |
Genco Shipping & Trading Ltd. | 5,495 | 84,403 | |
Gibraltar Industries, Inc.* | 4,979 | 228,437 | |
GoPro, Inc. - Class A* | 8,120 | 40,438 | |
Granite Construction, Inc. | 6,063 | 212,629 | |
Great Lakes Dredge & Dock Corp.* | 6,060 | 36,057 | |
Greenbrier Cos., Inc. | 8,215 | 275,449 | |
Greif, Inc. - Class A | 5,210 | 349,383 | |
Griffon Corp. | 8,080 | 289,183 | |
Harsco Corp.* | 4,690 | 29,500 | |
Heartland Express, Inc. | 2,240 | 34,362 | |
Heritage-Crystal Clean, Inc.* | 2,120 | 68,858 | |
Hexcel Corp. | 990 | 58,261 | |
Hillenbrand, Inc. | 3,357 | 143,243 |
7
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2022 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
INDUSTRIAL (Continued) | |||
Hub Group, Inc. - Class A* | 8,650 | $687,588 | |
Hurco Cos., Inc. | 1,032 | 26,966 | |
Ichor Holdings Ltd.* | 1,130 | 30,307 | |
International Seaways, Inc. | 6,924 | 256,326 | |
Kadant, Inc. | 190 | 33,750 | |
Kennametal, Inc. | 2,850 | 68,571 | |
Kimball Electronics, Inc.* | 6,580 | 148,642 | |
Kirby Corp.* | 2,510 | 161,518 | |
Knowles Corp.* | 14,725 | 241,784 | |
Limbach Holdings, Inc.* | 1,510 | 15,719 | |
Louisiana-Pacific Corp. | 1,670 | 98,864 | |
LSB Industries, Inc.* | 3,550 | 47,215 | |
LSI Industries, Inc. | 5,950 | 72,828 | |
Marten Transport Ltd. | 21,605 | 427,347 | |
MasTec, Inc.* | 1,810 | 154,447 | |
Materion Corp. | 4,660 | 407,797 | |
Matson, Inc. | 2,600 | 162,526 | |
Matthews International Corp. - Class A | 4,500 | 136,980 | |
Modine Manufacturing Co.* | 15,312 | 304,096 | |
Moog, Inc. - Class A | 2,145 | 188,245 | |
Mueller Industries, Inc. | 4,560 | 269,040 | |
Myers Industries, Inc. | 3,290 | 73,137 | |
MYR Group, Inc.* | 3,523 | 324,363 | |
NL Industries, Inc. | 5,450 | 37,115 | |
Nordic American Tankers Ltd. | 11,470 | 35,098 | |
Northwest Pipe Co.* | 1,917 | 64,603 | |
nVent Electric PLC | 4,145 | 159,458 | |
O-I Glass, Inc.* | 5,950 | 98,591 | |
Olympic Steel, Inc. | 1,359 | 45,635 | |
Orion Group Holdings, Inc.* | 7,850 | 18,683 | |
Overseas Shipholding Group, Inc. - Class A* | 9,400 | 27,166 | |
Pactiv Evergreen, Inc. | 3,860 | 43,850 | |
PAM Transportation Services, Inc.* | 2,074 | 53,717 | |
Plexus Corp.* | 3,930 | 404,515 | |
Powell Industries, Inc. | 1,850 | 65,083 | |
Primoris Services Corp. | 4,580 | 100,485 | |
Proto Labs, Inc.* | 700 | 17,871 | |
RBC Bearings, Inc.* | 500 | 104,675 | |
Regal Rexnord Corp. | 4,886 | 586,222 | |
Ryder System, Inc. | 2,953 | 246,782 | |
Ryerson Holding Corp. | 6,170 | 186,704 | |
Sanmina Corp.* | 17,971 | 1,029,559 | |
Schneider National, Inc. - Class B | 5,700 | 133,380 | |
Scorpio Tankers, Inc. | 10,156 | 546,088 | |
SFL Corp. Ltd. | 3,130 | 28,859 | |
Sight Sciences, Inc.* | 1,460 | 17,827 | |
SPX Technologies, Inc.* | 3,125 | 205,156 | |
Standex International Corp. | 910 | 93,193 | |
Sterling Infrastructure, Inc.* | 1,640 | 53,792 | |
Summit Materials, Inc. - Class A* | 20,238 | 574,565 | |
TD SYNNEX Corp. | 1,500 | 142,065 | |
Teekay Corp.* | 14,220 | 64,559 | |
Teekay Tankers Ltd. - Class A* | 4,529 | 139,538 | |
Terex Corp. | 3,835 | 163,831 | |
Thermon Group Holdings, Inc.* | 3,370 | 67,670 |
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
INDUSTRIAL (Continued) | |||
Timken Co. | 2,555 | $180,562 | |
TimkenSteel Corp.* | 11,432 | 207,719 | |
Tredegar Corp. | 5,250 | 53,655 | |
TriMas Corp. | 6,050 | 167,827 | |
Trinity Industries, Inc. | 14,845 | 438,967 | |
TTM Technologies, Inc.* | 30,374 | 458,040 | |
Tutor Perini Corp.* | 6,270 | 47,339 | |
UFP Industries, Inc. | 6,420 | 508,785 | |
Universal Logistics Holdings, Inc. | 1,120 | 37,453 | |
Vishay Intertechnology, Inc. | 26,059 | 562,093 | |
Vishay Precision Group, Inc.* | 2,880 | 111,312 | |
Watts Water Technologies, Inc. - Class A | 580 | 84,813 | |
Werner Enterprises, Inc. | 10,110 | 407,029 | |
Willis Lease Finance Corp.* | 2,690 | 158,737 | |
Worthington Industries, Inc. | 3,010 | 149,627 | |
26,651,897 | |||
TECHNOLOGY — 3.6% | |||
1Life Healthcare, Inc.* | 12,495 | 208,791 | |
Adeia, Inc. | 7,179 | 68,057 | |
Allscripts Healthcare Solutions, Inc.* | 20,109 | 354,723 | |
Alpha & Omega Semiconductor Ltd.* | 5,135 | 146,707 | |
Amkor Technology, Inc. | 43,629 | 1,046,223 | |
Amtech Systems, Inc.* | 1,500 | 11,400 | |
Avid Technology, Inc.* | 1,360 | 36,162 | |
Axcelis Technologies, Inc.* | 724 | 57,457 | |
Bandwidth, Inc. - Class A* | 2,020 | 46,359 | |
C3.ai, Inc. - Class A* | 1,470 | 16,449 | |
CACI International, Inc. - Class A* | 1,479 | 444,573 | |
Cardlytics, Inc.* | 5,020 | 29,016 | |
Cohu, Inc.* | 4,382 | 140,443 | |
Computer Programs and Systems, Inc.* | 890 | 24,226 | |
Concentrix Corp. | 1,195 | 159,126 | |
Conduent, Inc.* | 11,320 | 45,846 | |
Digi International, Inc.* | 5,865 | 214,366 | |
Diodes, Inc.* | 1,737 | 132,255 | |
Donnelley Financial Solutions, Inc.* | 1,500 | 57,975 | |
Ebix, Inc. | 1,610 | 32,136 | |
ExlService Holdings, Inc.* | 410 | 69,466 | |
Health Catalyst, Inc.* | 3,430 | 36,461 | |
Insight Enterprises, Inc.* | 7,025 | 704,397 | |
KBR, Inc. | 1,706 | 90,077 | |
Kulicke & Soffa Industries, Inc. | 3,338 | 147,740 | |
Maximus, Inc. | 480 | 35,198 | |
NetScout Systems, Inc.* | 9,655 | 313,884 | |
NextGen Healthcare, Inc.* | 1,980 | 37,184 | |
Onto Innovation, Inc.* | 2,279 | 155,177 | |
Parsons Corp.* | 3,940 | 182,225 | |
Photronics, Inc.* | 13,193 | 222,038 | |
Rambus, Inc.* | 5,975 | 214,024 | |
Rapid7, Inc.* | 1,560 | 53,009 | |
Richardson Electronics Ltd./United States | 3,170 | 67,616 | |
Sharecare, Inc.* | 10,540 | 16,864 | |
Super Micro Computer, Inc.* | 4,080 | 334,968 | |
Ultra Clean Holdings, Inc.* | 3,090 | 102,434 |
8
VERICIMETRY U.S. SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Continued)
As of December 31, 2022 (Unaudited)
Number of Shares | Value | ||
COMMON STOCKS (Continued) | |||
TECHNOLOGY (Continued) | |||
Xerox Holdings Corp. | 3,090 | $45,114 | |
6,100,166 | |||
UTILITIES — 0.6% | |||
American States Water Co. | 1,530 | 141,601 | |
Artesian Resources Corp. - Class A | 679 | 39,776 | |
Avista Corp. | 3,790 | 168,049 | |
Black Hills Corp. | 640 | 45,018 | |
California Water Service Group | 602 | 36,505 | |
Chesapeake Utilities Corp. | 259 | 30,609 | |
National Fuel Gas Co. | 497 | 31,460 | |
New Jersey Resources Corp. | 1,912 | 94,873 | |
ONE Gas, Inc. | 1,500 | 113,580 | |
Ormat Technologies, Inc. | 1,871 | 161,804 | |
Otter Tail Corp. | 1,001 | 58,769 | |
PNM Resources, Inc. | 686 | 33,470 | |
955,514 | |||
TOTAL COMMON STOCKS | |||
(Cost $110,912,149) | 153,567,232 | ||
EXCHANGE-TRADED FUNDS — 1.8% | |||
Direxion Daily Homebuilders & Supplies Bull 3x Shares - ETF* | 6,815 | 208,948 | |
Direxion Daily Small Cap Bull 3X Shares - ETF | 15,476 | 490,589 | |
iShares Russell 2000 Value ETF | 5,415 | 750,898 | |
ProShares UltraPro Russell2000 - ETF | 8,050 | 301,875 | |
SPDR S&P Metals & Mining ETF | 640 | 31,878 | |
SPDR S&P Regional Banking ETF1 | 15,313 | 899,486 | |
VanEck Oil Services ETF | 1,060 | 322,293 | |
TOTAL EXCHANGE-TRADED FUNDS | |||
(Cost $2,475,418) | 3,005,967 | ||
PREFERRED STOCKS — 0.1% | |||
CONSUMER, CYCLICAL — 0.1% | |||
Qurate Retail, Inc. 8.00%, 3/15/20313 | 274 | 9,387 | |
WESCO International, Inc. 10.63%3,4,5 | 5,008 | 131,310 | |
140,697 | |||
INDUSTRIAL — 0.0% | |||
Steel Partners Holdings LP 6.00%, 2/7/20263 | 1,855 | 42,610 | |
TOTAL PREFERRED STOCKS | |||
(Cost $188,490) | 183,307 | ||
MONEY MARKET INVESTMENTS — 6.9% | |||
Federated Treasury Obligations Fund-Class Institutional, 4.08%4,6 | 500,000 | 500,000 | |
Invesco Government & Agency Portfolio, 4.26%4,7 | 2,284,965 | 2,284,965 |
Number of Shares | Value | ||
MONEY MARKET INVESTMENTS (Continued) | |||
UMB Money Market Fiduciary, 0.01%4 | 8,719,170 | $8,719,170 | |
TOTAL MONEY MARKET INVESTMENTS | |||
(Cost $11,504,135) | 11,504,135 | ||
TOTAL INVESTMENTS — 100.5% | |||
(Cost $125,080,192) | 168,260,641 | ||
Liabilities less other assets — (0.5)% | (914,135) | ||
TOTAL NET ASSETS — 100.0% | $167,346,506 |
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 $2,236,512 at December 31, 2022. |
2Security valued at fair value as determined by the investment adviser under the supervision of the Board of Trustees. Value determined using significant unobservable inputs. |
3Callable. |
4Variable rate security; the rate shown represents the rate at December 31, 2022. |
5Perpetual security; maturity date is not applicable. |
6All or a portion of this security is segregated as collateral for options contracts. The total value of these securities is $500,000 at December 31, 2022. |
7Investments purchased with cash proceeds from securities lending. Total collateral had a fair value of $2,284,965 at December 31, 2022. |
9