JOHCM FUNDS TRUST
JOHCM CREDIT INCOME FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
COMMON STOCKS | 0.2% | ||
Holding Companies-Diversified | 0.2% | ||
Austerlitz Acquisition Corp. II(a) | 634 | $6,194 | |
CC Neuberger Principal Holdings III(a) | 104 | 1,023 | |
Northern Star Investment Corp. III(a) | 211 | 2,066 | |
9,283 | |||
TOTAL COMMON STOCKS (Cost $9,505) | 9,283 |
Percentage of Net Assets | Principal Amount | Value | |
CONVERTIBLE BONDS | 14.6% | ||
Biotechnology | 2.1% | ||
Bridgebio Pharma, Inc. 2.25%, 02/01/29 | $50,000 | 20,435 | |
Innoviva, Inc. 2.50%, 08/15/25 | 100,000 | 108,562 | |
128,997 | |||
Internet | 3.1% | ||
Spotify U.S.A., Inc. 0.00%, 03/15/26 | 180,000 | 142,020 | |
Twitter, Inc. 0.00%, 03/15/26 | 50,000 | 44,253 | |
186,273 | |||
Media | 6.2% | ||
Liberty Broadband Corp., | |||
1.25%, 09/30/50(b) | 100,000 | 93,400 | |
2.75%, 09/30/50(b) | 100,000 | 95,118 | |
Liberty Latin America Ltd. 2.00%, 07/15/24 | 220,000 | 190,438 | |
378,956 | |||
Software | 3.2% | ||
Envestnet, Inc. 0.75%, 08/15/25 | 100,000 | 85,300 | |
Splunk, Inc. 1.13%, 06/15/27 | 130,000 | 107,250 | |
192,550 | |||
TOTAL CONVERTIBLE BONDS (Cost $992,007) | 886,776 | ||
CORPORATE BONDS | 66.5% | ||
Advertising | 4.3% | ||
Advantage Sales & Marketing, Inc. 6.50%, 11/15/28(b) | 300,000 | 257,241 | |
Aerospace/Defense | 3.2% | ||
Boeing (The) Co. 5.81%, 05/01/50 | 110,000 | 101,032 | |
Hexcel Corp. 4.20%, 02/15/27 | 100,000 | 93,797 | |
194,829 |
1
JOHCM FUNDS TRUST
JOHCM CREDIT INCOME FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Principal Amount | Value | |
Apparel | 1.4% | ||
Kontoor Brands, Inc. 4.13%, 11/15/29(b) | $108,000 | $85,765 | |
Banks | 2.9% | ||
Bank of America Corp. (Variable, ICE LIBOR USD 3M + 2.66%) 4.30%, 01/28/25(c) | 105,000 | 87,806 | |
JPMorgan Chase & Co. (Variable, U.S. SOFR + 2.75%) 4.00%, 04/01/25(c) | 105,000 | 86,494 | |
174,300 | |||
Commercial Services | 1.6% | ||
Graham Holdings Co. 5.75%, 06/01/26(b) | 100,000 | 99,000 | |
Diversified Financial Services | 2.4% | ||
Charles Schwab Corp. (The) (Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 4.97%) 5.38%, 06/01/25(c) | 150,000 | 148,125 | |
Electrical Component & Equipments | 4.1% | ||
WESCO Distribution, Inc. 7.25%, 06/15/28(b) | 250,000 | 247,250 | |
Food | 0.3% | ||
JBS U.S.A. LUX S.A./JBS U.S.A. Food Co./JBS U.S.A. Finance, Inc. 6.50%, 04/15/29(b) | 16,000 | 16,096 | |
Healthcare-Services | 0.8% | ||
IQVIA, Inc. 5.00%, 10/15/26(b) | 50,000 | 47,617 | |
Internet | 13.2% | ||
Netflix, Inc. 6.38%, 05/15/29 | 260,000 | 262,587 | |
TripAdvisor, Inc. 7.00%, 07/15/25(b) | 300,000 | 290,406 | |
Uber Technologies, Inc. 8.00%, 11/01/26(b) | 250,000 | 248,875 | |
801,868 | |||
Machinery-Diversified | 0.7% | ||
Flowserve Corp. 3.50%, 10/01/30 | 50,000 | 42,941 | |
Media | 5.1% | ||
CCO Holdings LLC/CCO Holdings Capital Corp., | |||
4.00%, 03/01/23(b) | 50,000 | 49,625 | |
5.38%, 06/01/29(b) | 150,000 | 134,076 | |
Paramount Global (Variable, ICE LIBOR USD 3M + 3.90%) 6.25%, 02/28/57(c) | 37,000 | 32,375 | |
Sirius XM Radio, Inc. 5.50%, 07/01/29(b) | 100,000 | 91,125 | |
307,201 |
2
JOHCM FUNDS TRUST
JOHCM CREDIT INCOME FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Principal Amount | Value | |
Packing & Containers | 1.2% | ||
Berry Global, Inc. 4.88%, 07/15/26(b) | $75,000 | $71,577 | |
Pharmaceuticals | 1.6% | ||
AbbVie, Inc. 3.60%, 05/14/25 | 100,000 | 98,374 | |
Real Estate Investment Trusts | 4.5% | ||
Digital Realty Trust L.P. 3.70%, 08/15/27 | 100,000 | 95,257 | |
SBA Communications Corp. 3.13%, 02/01/29 | 30,000 | 24,555 | |
VICI Properties L.P./VICI Note Co., Inc. 5.75%, 02/01/27(b) | 160,000 | 151,824 | |
271,636 | |||
Semiconductors | 1.0% | ||
Broadcom, Inc. 3.14%, 11/15/35(b) | 80,000 | 60,751 | |
Software | 7.6% | ||
CDK Global, Inc. 5.25%, 05/15/29(b) | 100,000 | 97,978 | |
MSCI, Inc. 4.00%, 11/15/29(b) | 200,000 | 177,266 | |
SS&C Technologies, Inc. 5.50%, 09/30/27(b) | 200,000 | 186,512 | |
461,756 | |||
Telecommunications | 6.7% | ||
Plantronics, Inc. 4.75%, 03/01/29(b) | 230,000 | 228,850 | |
Switch Ltd. 3.75%, 09/15/28(b) | 180,000 | 178,047 | |
406,897 | |||
Toys/Games/Hobbies | 2.4% | ||
Mattel, Inc. 5.88%, 12/15/27(b) | 150,000 | 146,634 | |
Transportation | 1.5% | ||
XPO Logistics, Inc. 6.25%, 05/01/25(b) | 90,000 | 89,325 | |
TOTAL CORPORATE BONDS (Cost $4,490,703) | 4,029,183 | ||
FOREIGN ISSUER BONDS | 3.2% | ||
Beverages | 1.6% | ||
Bacardi Ltd. 4.70%, 05/15/28(b) | 100,000 | 98,768 | |
Oil & Gas | 1.6% | ||
BP Capital Markets PLC (Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 4.04%) 4.38%, 06/22/25(c) | 100,000 | 94,150 | |
TOTAL FOREIGN ISSUER BONDS (Cost $218,422) | 192,918 |
3
JOHCM FUNDS TRUST
JOHCM CREDIT INCOME FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
PREFERRED STOCKS | 2.6% | ||
Banks | 0.7% | ||
Morgan Stanley (Variable, ICE LIBOR USD 3M + 3.49%) 5.85%(c) | 1,679 | $41,522 | |
Telecommunications | 1.9% | ||
2020 Cash Mandatory Exchangeable Trust (a)(b) | 100 | 114,660 | |
PREFERRED STOCKS (Cost $152,307) | 156,182 |
Percentage of Net Assets | Principal Amount | Value | |
U.S. TREASURY OBLIGATIONS | 2.3% | ||
U.S. Treasury Bonds | 2.3% | ||
2.25%, 02/15/52 | $170,000 | 139,905 | |
TOTAL U.S. TREASURY OBLIGATIONS (Cost $146,232) | 139,905 |
Percentage of Net Assets | Shares | Value | |
SHORT-TERM INVESTMENTS | 8.5% | ||
Northern Institutional Treasury Portfolio (Premier Class), 1.16%(d) | 514,970 | 514,970 | |
TOTAL SHORT-TERM INVESTMENTS (Cost $514,970) | 514,970 | ||
TOTAL INVESTMENTS (Cost $6,524,146) | 97.9% | 5,929,217 | |
NET OTHER ASSETS (LIABILITIES) | 2.1% | 125,433 | |
NET ASSETS | 100.0% | $6,054,650 |
(a)Non-income producing security. |
(b)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers. |
(c)Floating rate security. The rate presented is the rate in effect at June 30, 2022, and the related index and spread are shown parenthetically for each security. |
(d)7-day current yield as of June 30, 2022 is disclosed. |
4
JOHCM FUNDS TRUST
JOHCM CREDIT INCOME FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
At June 30, 2022 the JOHCM Credit Income Fund's investments were concentrated as follows:
Fixed Income Credit Ratings | % of Net Assets |
BBB and above | 26.40% |
BB | 32.51 |
B | 19.57 |
NR | 8.43 |
5
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
COMMON STOCKS | 92.1% | ||
Brazil | 7.2% | ||
Ambev S.A. - ADR | 4,329,892 | $10,868,029 | |
Petroleo Brasileiro S.A. - ADR | 2,751,648 | 32,139,249 | |
Suzano S.A. - ADR | 1,080,440 | 10,242,571 | |
53,249,849 | |||
Canada | 2.7% | ||
Barrick Gold Corp. | 1,101,251 | 19,481,130 | |
China | 27.7% | ||
Anhui Conch Cement Co. Ltd. - Class H | 3,351,109 | 14,520,277 | |
China Oilfield Services. Ltd. - Class H | 9,620,000 | 9,427,767 | |
Country Garden Services Holdings Co. Ltd. | 1,498,000 | 6,672,159 | |
ENN Energy Holdings Ltd. | 1,372,205 | 22,541,319 | |
Jiangsu Expressway Co. Ltd. - Class H | 3,996,982 | 4,024,081 | |
Longfor Group Holdings Ltd.(a) | 4,585,372 | 21,650,613 | |
Proya Cosmetics Co. Ltd. - Class A | 807,859 | 19,938,910 | |
Tencent Holdings Ltd. | 957,124 | 43,228,417 | |
TravelSky Technology Ltd. - Class H | 3,562,000 | 6,918,091 | |
Trip.com Group Ltd.(b) | 463,716 | 13,095,716 | |
Tsingtao Brewery Co. Ltd. - Class H | 1,892,536 | 19,680,754 | |
Xinyi Energy Holdings Ltd. | 3,002,948 | 1,538,443 | |
Xinyi Solar Holdings Ltd. | 10,950,440 | 16,913,816 | |
Zhejiang Expressway Co. Ltd. - Class H(b) | 4,536,225 | 4,185,435 | |
204,335,798 | |||
Hong Kong | 3.8% | ||
China Resources Land Ltd. | 1,799,176 | 8,391,936 | |
Hong Kong Exchanges & Clearing Ltd. | 354,751 | 17,450,921 | |
Lee & Man Paper Manufacturing Ltd. | 4,063,402 | 1,745,127 | |
27,587,984 | |||
India | 12.9% | ||
Container Corp. of India Ltd. | 1,298,885 | 9,774,635 | |
HDFC Bank Ltd. - ADR | 439,075 | 24,131,562 | |
Larsen & Toubro Ltd. | 893,071 | 17,621,677 | |
Mahindra & Mahindra Ltd. | 1,524,921 | 21,108,201 | |
State Bank of India | 3,798,687 | 22,410,437 | |
95,046,512 | |||
Indonesia | 2.0% | ||
Bank Mandiri Persero Tbk PT | 14,208,594 | 7,558,524 | |
Bank Rakyat Indonesia Persero Tbk PT | 25,640,758 | 7,142,752 | |
14,701,276 | |||
Jersey | 0.5% | ||
Centamin PLC | 4,193,722 | 4,008,460 | |
Mexico | 7.5% | ||
Becle S.A.B. de C.V. | 3,532,633 | 7,641,639 | |
Bolsa Mexicana de Valores S.A.B. de C.V. | 2,925,222 | 5,191,634 |
6
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
Cemex S.A.B. de C.V. - ADR(b) | 3,912,710 | $15,337,823 | |
Grupo Financiero Banorte S.A.B. de C.V., Series O | 1,943,161 | 10,838,876 | |
Megacable Holdings S.A.B. de C.V. - CPO | 1,527,268 | 3,711,559 | |
Wal-Mart de Mexico S.A.B. de C.V. | 3,632,380 | 12,523,081 | |
55,244,612 | |||
Russia | 0.0% | ||
Gazprom PJSC - ADR(c) | 306,786 | — | |
Globaltrans Investment PLC - REG - GDR(c) | 757,185 | — | |
— | |||
South Africa | 4.6% | ||
FirstRand Ltd. | 5,302,352 | 20,327,788 | |
Mr Price Group Ltd. | 1,209,720 | 13,188,969 | |
33,516,757 | |||
South Korea | 13.8% | ||
Cheil Worldwide, Inc. | 562,940 | 10,297,154 | |
Kangwon Land, Inc.(b) | 437,714 | 8,562,797 | |
Samsung Electronics Co. Ltd. | 861,352 | 37,813,512 | |
Samsung Electronics Co. Ltd. - REG - GDR | 1,215 | 1,325,565 | |
SK Hynix, Inc. | 294,112 | 20,613,210 | |
SK Square Co. Ltd.(b) | 247,473 | 7,442,869 | |
SK Telecom Co. Ltd. | 382,812 | 15,331,349 | |
101,386,456 | |||
Taiwan | 6.2% | ||
Primax Electronics Ltd. | 7,303,384 | 15,179,819 | |
Taiwan Cement Corp. | 4,826,000 | 6,411,186 | |
Tong Yang Industry Co. Ltd. | 5,251,643 | 8,716,383 | |
Win Semiconductors Corp. | 550,000 | 3,560,798 | |
Yuanta Financial Holding Co. Ltd. | 18,083,000 | 11,980,934 | |
45,849,120 | |||
United Arab Emirates | 3.2% | ||
Emaar Properties PJSC | 13,293,556 | 18,819,660 | |
Fertiglobe PLC | 3,832,331 | 5,018,516 | |
23,838,176 | |||
TOTAL COMMON STOCKS (Cost $697,126,135) | 678,246,130 | ||
PREFERRED STOCKS | 3.0% | ||
Brazil | 3.0% | ||
Azul S.A. - ADR(b) | 676,252 | 4,801,389 | |
Banco Bradesco S.A. - ADR, 1.07%(d) | 2,882,195 | 9,395,955 | |
Itau Unibanco Holding S.A. - ADR, 0.74%(d) | 1,960,301 | 8,390,088 | |
22,587,432 | |||
TOTAL PREFERRED STOCKS (Cost $32,832,641) | 22,587,432 | ||
TOTAL INVESTMENTS (Cost $729,958,776) | 95.1% | 700,833,562 | |
NET OTHER ASSETS (LIABILITIES) | 4.9% | 35,852,984 | |
NET ASSETS | 100.0% | $736,686,546 |
7
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
(a)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers. |
(b)Non-income producing security. |
(c)Security valued pursuant to Level 3 unobservable inputs and is restricted for trading. |
(d)Current yield is disclosed. Dividends are calculated based on a percentage of the issuer’s net income. |
Abbreviations: |
ADR – American Depositary Receipt |
CPO – Certificados de Partcipatión Ordinario |
GDR – Global Depositary Receipt |
REG – Registered |
At June 30, 2022 the industry sectors for the JOHCM Emerging Markets Opportunities Fund were:
Sector Allocation | % of Net Assets |
Communication Services | 9.8% |
Consumer Discretionary | 8.8 |
Consumer Staples | 9.6 |
Energy | 5.6 |
Financials | 19.7 |
Industrials | 5.5 |
Information Technology | 14.9 |
Materials | 10.4 |
Real Estate | 7.5 |
Utilities | 3.3 |
Total | 95.1% |
8
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS SMALL MID CAP EQUITY FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
COMMON STOCKS | 90.6% | ||
Brazil | 5.3% | ||
Ambipar Participacoes e Empreendimentos S.A. | 27,800 | $118,617 | |
Cia Brasileira de Aluminio | 86,200 | 190,734 | |
Cielo S.A.(a) | 190,100 | 136,215 | |
Empreendimentos Pague Menos S.A.(a) | 58,200 | 48,375 | |
Lojas Renner S.A.(a) | 80,900 | 349,666 | |
Oncoclinicas do Brasil Servicos Medicos S.A.(a) | 151,600 | 132,092 | |
Petro Rio S.A.(a) | 50,100 | 210,511 | |
Santos Brasil Participacoes S.A. | 169,100 | 210,670 | |
Sinqia S.A.(a) | 58,200 | 176,153 | |
StoneCo. Ltd. - Class A(a) | 35,162 | 270,747 | |
TOTVS S.A.(a) | 35,200 | 156,446 | |
2,000,226 | |||
Canada | 2.4% | ||
Capstone Copper Corp.(a) | 91,009 | 229,785 | |
Dundee Precious Metals, Inc. | 49,726 | 247,625 | |
Neo Performance Materials, Inc. | 13,307 | 128,501 | |
Parex Resources, Inc. | 16,827 | 284,982 | |
890,893 | |||
Chile | 1.1% | ||
Cia Cervecerias Unidas S.A. - ADR | 32,306 | 408,025 | |
China | 5.5% | ||
China Datang Corp. Renewable Power Co. Ltd. - Class H | 1,570,000 | 534,218 | |
New Horizon Health Ltd.(a)(b) | 69,500 | 209,028 | |
Silergy Corp. | 3,313 | 266,858 | |
Uni-President China Holdings Ltd. | 534,000 | 457,998 | |
Xtep International Holdings Ltd. | 333,500 | 603,520 | |
2,071,622 | |||
Czech Republic | 0.5% | ||
Moneta Money Bank A.S.(b) | 54,532 | 197,958 | |
Germany | 0.9% | ||
Krones A.G. | 4,470 | 341,020 | |
Greece | 1.4% | ||
Eurobank Ergasias Services and Holdings S.A.(a) | 211,209 | 186,631 | |
Mytilineos S.A. | 15,242 | 223,620 | |
Star Bulk Carriers Corp. | 4,914 | 122,801 | |
533,052 | |||
Hong Kong | 6.2% | ||
BOE Varitronix Ltd. | 134,000 | 269,134 | |
China Power International Development Ltd. | 250,000 | 158,663 | |
CIMC Enric Holdings Ltd. | 458,000 | 492,040 | |
Man Wah Holdings Ltd. | 264,400 | 285,736 | |
Pax Global Technology Ltd. | 449,000 | 349,619 |
9
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS SMALL MID CAP EQUITY FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
Towngas Smart Energy Co. Ltd.(a) | 793,000 | $422,432 | |
Truly International Holdings Ltd. | 1,060,000 | 324,209 | |
2,301,833 | |||
Hungary | 0.6% | ||
Richter Gedeon Nyrt | 11,937 | 215,497 | |
India | 20.1% | ||
Apollo Tyres Ltd. | 82,205 | 192,677 | |
Aster DM Healthcare Ltd.(a)(b) | 187,677 | 423,014 | |
Bata India Ltd. | 15,869 | 335,314 | |
Computer Age Management Services Ltd. | 5,874 | 167,932 | |
CreditAccess Grameen Ltd.(a) | 22,025 | 283,301 | |
Genus Power Infrastructures Ltd. | 324,542 | 310,272 | |
Indian Energy Exchange Ltd.(b) | 93,417 | 187,786 | |
Ipca Laboratories Ltd. | 22,593 | 256,763 | |
KPIT Technologies Ltd. | 101,900 | 667,936 | |
Lemon Tree Hotels Ltd.(a)(b) | 430,287 | 332,635 | |
Narayana Hrudayalaya Ltd.(a) | 68,213 | 546,369 | |
Phoenix Mills (The) Ltd. | 35,749 | 535,833 | |
PNC Infratech Ltd. | 84,464 | 258,988 | |
PTC India Ltd. | 180,955 | 174,259 | |
PVR Ltd.(a) | 26,073 | 614,365 | |
Quess Corp. Ltd.(b) | 51,099 | 397,061 | |
Shriram Transport Finance Co. Ltd. | 15,227 | 247,062 | |
Varun Beverages Ltd. | 92,000 | 920,956 | |
VST Tillers Tractors Ltd. | 8,102 | 260,303 | |
WNS Holdings Ltd. - ADR(a) | 5,746 | 428,882 | |
7,541,708 | |||
Indonesia | 2.1% | ||
Matahari Department Store Tbk PT | 563,900 | 188,881 | |
Media Nusantara Citra Tbk PT | 3,050,100 | 191,431 | |
Merdeka Copper Gold Tbk PT(a) | 782,200 | 209,497 | |
Vale Indonesia Tbk PT(a) | 469,300 | 177,986 | |
767,795 | |||
Jordan | 0.5% | ||
Hikma Pharmaceuticals PLC | 9,906 | 195,047 | |
Mexico | 1.4% | ||
Banco del Bajio S.A.(b) | 72,500 | 145,328 | |
Gruma S.A.B. de C.V. - Class B | 16,040 | 177,513 | |
Megacable Holdings S.A.B. de C.V. - CPO | 84,200 | 204,623 | |
527,464 | |||
Philippines | 0.8% | ||
Metropolitan Bank & Trust Co. | 323,030 | 280,819 |
10
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS SMALL MID CAP EQUITY FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
Poland | 0.7% | ||
Bank Polska Kasa Opieki S.A. | 9,833 | $178,914 | |
STS Holding S.A.(a) | 23,906 | 78,310 | |
257,224 | |||
Russia | 0.0% | ||
Ozon Holdings PLC - ADR(a)(c) | 7,516 | — | |
Saudi Arabia | 0.5% | ||
United Electronics Co. | 6,262 | 188,923 | |
South Africa | 1.9% | ||
Aspen Pharmacare Holdings Ltd. | 16,911 | 144,529 | |
Mr Price Group Ltd. | 25,088 | 273,522 | |
Sappi Ltd.(a) | 83,446 | 276,259 | |
694,310 | |||
South Korea | 14.5% | ||
Cheil Worldwide, Inc. | 17,797 | 325,538 | |
CJ CheilJedang Corp. | 879 | 256,578 | |
Dentium Co. Ltd. | 6,819 | 449,558 | |
DGB Financial Group, Inc. | 30,926 | 181,259 | |
Ecopro BM Co. Ltd. | 4,156 | 363,298 | |
Eugene Technology Co. Ltd. | 7,425 | 167,840 | |
Hana Materials, Inc. | 10,301 | 380,020 | |
Hansol Chemical Co. Ltd. | 2,660 | 417,930 | |
Hyundai Mipo Dockyard Co. Ltd.(a) | 9,119 | 639,819 | |
Iljin Materials Co. Ltd. | 2,727 | 146,599 | |
KH Vatec Co. Ltd. | 12,191 | 174,640 | |
LX Semicon Co. Ltd. | 3,587 | 264,660 | |
Meritz Fire & Marine Insurance Co. Ltd. | 7,561 | 193,043 | |
PSK, Inc. | 7,834 | 224,449 | |
Samsung Engineering Co. Ltd.(a) | 15,458 | 256,562 | |
SKC Co. Ltd. | 4,087 | 418,647 | |
SL Corp. | 24,097 | 582,753 | |
5,443,193 | |||
Taiwan | 15.0% | ||
Alchip Technologies Ltd. | 22,300 | 520,497 | |
Arcadyan Technology Corp.(a) | 108,000 | 435,872 | |
ASPEED Technology, Inc. | 4,950 | 316,310 | |
Bizlink Holding, Inc. | 39,000 | 404,645 | |
Chailease Holding Co. Ltd. | 60,172 | 421,946 | |
E Ink Holdings, Inc. | 108,000 | 684,682 | |
Elite Material Co. Ltd. | 41,000 | 246,136 | |
Farglory Land Development Co. Ltd. | 67,000 | 141,060 | |
Fittech Co. Ltd. | 28,000 | 118,183 | |
Fulgent Sun International Holding Co. Ltd. | 26,000 | 151,277 | |
Ingentec Corp. | 58,000 | 258,463 | |
Makalot Industrial Co. Ltd. | 19,000 | 90,100 |
11
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS SMALL MID CAP EQUITY FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
Merida Industry Co. Ltd. | 42,000 | $360,906 | |
Sino-American Silicon Products, Inc. | 30,000 | 142,264 | |
Taiwan Business Bank | 757,000 | 294,057 | |
Taiwan Paiho Ltd. | 93,000 | 215,192 | |
Tong Yang Industry Co. Ltd. | 99,000 | 164,315 | |
Voltronic Power Technology Corp. | 10,450 | 507,853 | |
Winbond Electronics Corp. | 204,000 | 148,883 | |
5,622,641 | |||
Thailand | 7.1% | ||
Bangkok Life Assurance PCL - NVDR | 201,000 | 228,829 | |
Central Plaza Hotel PCL - REG(a) | 335,100 | 417,039 | |
Com7 PCL - REG | 330,500 | 280,441 | |
Fabrinet(a) | 2,458 | 199,344 | |
Humanica PCL - REG | 975,700 | 322,887 | |
JMT Network Services PCL - REG | 275,100 | 569,964 | |
Land & Houses PCL - REG | 1,482,400 | 350,107 | |
Major Cineplex Group PCL - NVDR | 457,000 | 284,373 | |
2,652,984 | |||
United States | 0.6% | ||
Parade Technologies Ltd. | 6,000 | 232,061 | |
Uruguay | 1.5% | ||
Arcos Dorados Holdings, Inc. - Class A | 61,454 | 414,200 | |
Dlocal Ltd.(a) | 6,059 | 159,049 | |
573,249 | |||
TOTAL COMMON STOCKS (Cost $37,506,018) | 33,937,544 | ||
EQUITY-LINKED SECURITIES | 1.0% | ||
India | 1.0% | ||
Voltas Ltd., Issued by CLSA Global Markets Pte. Ltd., Maturity Date 6/30/25(b) | 29,073 | 357,980 | |
TOTAL EQUITY-LINKED SECURITIES (Cost $254,016) | 357,980 | ||
PREFERRED STOCKS | 0.6% | ||
Brazil | 0.6% | ||
Gerdau S.A. - ADR, 2.43%(d) | 55,949 | 240,021 | |
TOTAL PREFERRED STOCKS (Cost $174,500) | 240,021 | ||
TOTAL INVESTMENTS (Cost $37,934,534) | 92.2% | 34,535,545 | |
NET OTHER ASSETS (LIABILITIES) | 7.8% | 2,940,284 | |
NET ASSETS | 100.0% | $37,475,829 |
(a)Non-income producing security. |
(b)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers. |
(c)Security valued pursuant to Level 3 unobservable inputs and is restricted for trading. |
(d)Current yield is disclosed. Dividends are calculated based on a percentage of issuer's net income. |
12
JOHCM FUNDS TRUST
JOHCM EMERGING MARKETS SMALL MID CAP EQUITY FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Abbreviations: |
ADR – American Depositary Receipt |
CPO – Certificados de Partcipatión Ordinario |
NVDR – Non-Voting Depositary Receipt |
REG – Registered |
At June 30, 2022 the industry sectors for the JOHCM Emerging Markets Small Mid Cap Equity Fund were:
Sector Allocation | % of Net Assets |
Communication Services | 4.3% |
Consumer Discretionary | 14.7 |
Consumer Staples | 6.1 |
Energy | 1.3 |
Financials | 9.6 |
Health Care | 6.9 |
Industrials | 13.2 |
Information Technology | 22.4 |
Materials | 7.5 |
Real Estate | 2.7 |
Utilities | 3.5 |
Total | 92.2% |
13
JOHCM FUNDS TRUST
JOHCM GLOBAL INCOME BUILDER FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
COMMON STOCKS | 59.9% | ||
Banks | 3.7% | ||
Citizens Financial Group, Inc. | 10,432 | $372,318 | |
FinecoBank Banca Fineco S.p.A. | 67,220 | 804,461 | |
JPMorgan Chase & Co. | 3,429 | 386,140 | |
Lloyds Banking Group PLC | 746,818 | 384,641 | |
Truist Financial Corp. | 20,638 | 978,860 | |
2,926,420 | |||
Beverages | 1.1% | ||
Coca-Cola Europacific Partners PLC | 7,878 | 406,584 | |
Coca-Cola Femsa S.A.B. de C.V. - ADR | 9,026 | 498,957 | |
905,541 | |||
Building Materials | 1.4% | ||
Cie de Saint-Gobain | 7,015 | 301,002 | |
CRH PLC | 22,714 | 780,829 | |
1,081,831 | |||
Chemicals | 4.1% | ||
Air Products and Chemicals, Inc. | 3,717 | 893,865 | |
International Flavors & Fragrances, Inc. | 7,946 | 946,527 | |
Linde PLC | 3,747 | 1,077,375 | |
Nutrien Ltd. | 4,295 | 342,269 | |
3,260,036 | |||
Cosmetics/Personal Care | 1.0% | ||
Unilever PLC | 18,325 | 830,044 | |
Diversified Financial Services | 2.8% | ||
Azimut Holding S.p.A. | 22,049 | 383,217 | |
CME Group, Inc. | 3,158 | 646,443 | |
GQG Partners, Inc. - CDI | 174,177 | 175,529 | |
Julius Baer Group Ltd. | 4,474 | 206,395 | |
Visa, Inc. - Class A | 3,995 | 786,576 | |
2,198,160 | |||
Electric | 1.4% | ||
Terna Rete Elettrica Nazionale S.p.A. | 144,203 | 1,131,568 | |
Electrical Component & Equipments | 0.4% | ||
ABB Ltd. - REG | 12,891 | 343,796 | |
Food | 1.2% | ||
Danone S.A. | 3,758 | 209,749 | |
Nestle S.A. - REG | 6,530 | 762,272 | |
972,021 | |||
Gas | 1.2% | ||
Enagas S.A. | 42,155 | 930,795 | |
Healthcare-Products | 1.5% | ||
Thermo Fisher Scientific, Inc. | 2,203 | 1,196,846 | |
Healthcare-Services | 0.5% | ||
Anthem, Inc. | 853 | 411,641 |
14
JOHCM FUNDS TRUST
JOHCM GLOBAL INCOME BUILDER FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
Home Builders | 1.0% | ||
Sekisui House Ltd. | 44,200 | $774,184 | |
Insurance | 0.9% | ||
Allianz S.E. - REG | 3,774 | 720,278 | |
Internet | 3.7% | ||
Alphabet, Inc. - Class C(a) | 548 | 1,198,723 | |
Meta Platforms, Inc. - Class A(a) | 4,690 | 756,262 | |
Naspers Ltd. - Class N | 7,052 | 1,026,333 | |
2,981,318 | |||
Investment Companies | 0.5% | ||
Kinetik Holdings, Inc. | 10,598 | 361,816 | |
Machinery-Diversified | 0.7% | ||
Chart Industries, Inc.(a) | 1,238 | 207,216 | |
Deere & Co. | 1,268 | 379,728 | |
586,944 | |||
Media | 0.5% | ||
NOS SGPS S.A. | 61,144 | 245,795 | |
Warner Bros Discovery, Inc.(a) | 9,480 | 127,222 | |
373,017 | |||
Mining | 0.4% | ||
Anglo American PLC | 9,502 | 339,716 | |
Oil & Gas | 1.4% | ||
Repsol S.A. | 14,154 | 208,399 | |
TotalEnergies S.E. | 17,157 | 905,637 | |
1,114,036 | |||
Oil & Gas Services | 0.2% | ||
Subsea 7 S.A. | 24,963 | 199,558 | |
Pharmaceuticals | 5.0% | ||
AstraZeneca PLC | 6,522 | 857,437 | |
Euroapi S.A.(a) | 193 | 3,045 | |
Novartis A.G. - REG | 13,477 | 1,141,377 | |
Pfizer, Inc. | 7,634 | 400,250 | |
Roche Holding A.G. - ADR | 14,176 | 591,281 | |
Sanofi | 9,971 | 1,006,667 | |
4,000,057 | |||
Pipelines | 6.5% | ||
Cheniere Energy, Inc. | 5,986 | 796,317 | |
Gaztransport Et Technigaz S.A. | 6,066 | 759,645 | |
New Fortress Energy, Inc. | 4,650 | 184,001 | |
ONEOK, Inc. | 21,346 | 1,184,703 | |
Pembina Pipeline Corp. | 22,946 | 811,096 | |
Williams Cos. (The), Inc. | 45,226 | 1,411,503 | |
5,147,265 |
15
JOHCM FUNDS TRUST
JOHCM GLOBAL INCOME BUILDER FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
Real Estate | 1.1% | ||
Hang Lung Properties Ltd. | 448,343 | $850,199 | |
Hongkong Land Holdings Ltd. | 79 | 397 | |
850,596 | |||
Real Estate Investment Trusts | 6.0% | ||
Champion REIT | 819,000 | 364,264 | |
Crown Castle International Corp. | 5,073 | 854,192 | |
Digital Realty Trust, Inc. | 3,213 | 417,144 | |
Douglas Emmett, Inc. | 12,464 | 278,944 | |
Frasers Logistics & Commercial Trust | 840,249 | 804,384 | |
Mapletree Industrial Trust | 471,580 | 882,537 | |
VICI Properties, Inc. | 38,379 | 1,143,311 | |
4,744,776 | |||
Retail | 1.4% | ||
Dollar Tree, Inc.(a) | 7,239 | 1,128,198 | |
Semiconductors | 3.2% | ||
Infineon Technologies A.G. | 18,840 | 455,875 | |
NXP Semiconductors N.V. | 4,530 | 670,576 | |
ON Semiconductor Corp.(a) | 17,362 | 873,482 | |
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | 6,278 | 513,226 | |
2,513,159 | |||
Software | 4.9% | ||
Activision Blizzard, Inc. | 6,794 | 528,981 | |
Bill.com Holdings, Inc.(a) | 1,737 | 190,966 | |
Microsoft Corp. | 4,162 | 1,068,927 | |
Oracle Corp. | 15,797 | 1,103,736 | |
SAP S.E. | 11,063 | 1,007,820 | |
3,900,430 | |||
Telecommunications | 2.2% | ||
AT&T, Inc. | 46,401 | 972,565 | |
BT Group PLC | 177,482 | 402,499 | |
Vodafone Group PLC | 271,368 | 418,404 | |
1,793,468 | |||
TOTAL COMMON STOCKS (Cost $46,308,743) | 47,717,515 |
Percentage of Net Assets | Principal Amount | Value | |
CONVERTIBLE BONDS | 4.3% | ||
Internet | 1.4% | ||
Spotify U.S.A., Inc. 0.00%, 03/15/26 | $1,000,000 | 789,000 | |
Twitter, Inc. 0.00%, 03/15/26 | 400,000 | 354,025 | |
1,143,025 |
16
JOHCM FUNDS TRUST
JOHCM GLOBAL INCOME BUILDER FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Principal Amount | Value | |
Media | 1.6% | ||
Liberty Broadband Corp. 1.25%, 09/30/50(b) | $500,000 | $467,000 | |
Liberty Latin America Ltd. 2.00%, 07/15/24 | 895,000 | 774,735 | |
1,241,735 | |||
Software | 1.3% | ||
Alteryx, Inc. 1.00%, 08/01/26 | 210,000 | 166,215 | |
Splunk, Inc. 1.13%, 06/15/27 | 1,040,000 | 858,000 | |
1,024,215 | |||
TOTAL CONVERTIBLE BONDS (Cost $3,846,681) | 3,408,975 | ||
CORPORATE BONDS | 17.8% | ||
Advertising | 1.5% | ||
Advantage Sales & Marketing, Inc. 6.50%, 11/15/28(b) | 1,400,000 | 1,200,458 | |
Aerospace/Defense | 0.4% | ||
Boeing (The) Co. 5.81%, 05/01/50 | 320,000 | 293,911 | |
Apparel | 0.4% | ||
Kontoor Brands, Inc. 4.13%, 11/15/29(b) | 411,000 | 326,383 | |
Banks | 1.4% | ||
Bank of America Corp. (Variable, ICE LIBOR USD 3M + 2.66%) 4.30%, 01/28/25(c) | 450,000 | 376,313 | |
JPMorgan Chase & Co. (Variable, U.S. SOFR + 2.75%) 4.00%, 04/01/25(c) | 900,000 | 741,375 | |
1,117,688 | |||
Diversified Financial Services | 0.7% | ||
Charles Schwab Corp. (The) (Variable, U.S. Treasury Yield Curve Rate CMT 5Y + 4.97%) 5.38%, 06/01/25(c) | 550,000 | 543,125 | |
Electrical Component & Equipments | 1.1% | ||
WESCO Distribution, Inc. 7.25%, 06/15/28(b) | 850,000 | 840,650 | |
Healthcare-Services | 0.2% | ||
IQVIA, Inc. 5.00%, 10/15/26(b) | 150,000 | 142,850 | |
Internet | 2.0% | ||
Netflix, Inc. 6.38%, 05/15/29 | 505,000 | 510,025 | |
TripAdvisor, Inc. 7.00%, 07/15/25(b) | 1,130,000 | 1,093,861 | |
1,603,886 |
17
JOHCM FUNDS TRUST
JOHCM GLOBAL INCOME BUILDER FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Principal Amount | Value | |
Media | 2.0% | ||
CCO Holdings LLC/CCO Holdings Capital Corp., | |||
4.00%, 03/01/23(b) | $750,000 | $744,375 | |
5.38%, 06/01/29(b) | 850,000 | 759,764 | |
Paramount Global (Variable, ICE LIBOR USD 3M + 3.90%) 6.25%, 02/28/57(c) | 94,000 | 82,250 | |
1,586,389 | |||
Packing & Containers | 0.4% | ||
Berry Global, Inc. 4.88%, 07/15/26(b) | 300,000 | 286,308 | |
Pharmaceuticals | 0.7% | ||
AbbVie, Inc. 3.60%, 05/14/25 | 570,000 | 560,731 | |
Real Estate Investment Trusts | 3.4% | ||
American Tower Corp. 3.65%, 03/15/27 | 900,000 | 854,668 | |
Digital Realty Trust L.P., | |||
3.70%, 08/15/27 | 300,000 | 285,770 | |
3.60%, 07/01/29 | 850,000 | 768,188 | |
SBA Communications Corp. 3.13%, 02/01/29 | 175,000 | 143,238 | |
VICI Properties L.P./VICI Note Co., Inc. 5.75%, 02/01/27(b) | 700,000 | 664,230 | |
2,716,094 | |||
Semiconductors | 0.3% | ||
Broadcom, Inc. 3.14%, 11/15/35(b) | 280,000 | 212,627 | |
Software | 1.2% | ||
MSCI, Inc. 4.00%, 11/15/29(b) | 770,000 | 682,474 | |
SS&C Technologies, Inc. 5.50%, 09/30/27(b) | 325,000 | 303,082 | |
985,556 | |||
Telecommunications | 1.8% | ||
Plantronics, Inc. 4.75%, 03/01/29(b) | 920,000 | 915,402 | |
Switch Ltd. 3.75%, 09/15/28(b) | 550,000 | 544,032 | |
1,459,434 | |||
Toys/Games/Hobbies | 0.3% | ||
Mattel, Inc. 5.88%, 12/15/27(b) | 275,000 | 268,829 | |
TOTAL CORPORATE BONDS (Cost $15,551,351) | 14,144,919 |
18
JOHCM FUNDS TRUST
JOHCM GLOBAL INCOME BUILDER FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
EXCHANGE TRADED FUNDS | 3.0% | ||
iShares Gold Trust(a) | 35,292 | $1,210,869 | |
SPDR Gold Shares(a) | 7,188 | 1,210,890 | |
TOTAL EXCHANGE TRADED FUNDS (Cost $1,957,096) | 2,421,759 |
Percentage of Net Assets | Principal Amount | Value | |
FOREIGN ISSUER BONDS | 5.6% | ||
Beverages | 2.3% | ||
Bacardi Ltd. 4.70%, 05/15/28(b) | $900,000 | 888,915 | |
JDE Peet's N.V. 0.80%, 09/24/24(b) | 1,000,000 | 929,247 | |
1,818,162 | |||
Computers | 1.1% | ||
CGI, Inc. 1.45%, 09/14/26 | 1,000,000 | 883,086 | |
Media | 1.3% | ||
Thomson Reuters Corp. 4.30%, 11/23/23 | 1,000,000 | 1,012,163 | |
Telecommunications | 0.9% | ||
Rogers Communications, Inc. 3.63%, 12/15/25 | 750,000 | 735,583 | |
TOTAL FOREIGN ISSUER BONDS (Cost $4,457,933) | 4,448,994 |
Percentage of Net Assets | Shares | Value | |
PREFERRED STOCKS | 2.0% | ||
Beverages | 0.5% | ||
Embotelladora Andina S.A. - Class B 5.84%(d) | 236,793 | 422,571 | |
Semiconductors | 0.7% | ||
Samsung Electronics Co. Ltd. 2.78%(d) | 12,875 | 515,635 | |
Telecommunications | 0.8% | ||
2020 Cash Mandatory Exchangeable Trust (a)(b) | 550 | 630,630 | |
PREFERRED STOCKS (Cost $1,613,903) | 1,568,836 |
Percentage of Net Assets | Principal Amount | Value | |
U.S. GOVERNMENT OBLIGATIONS | 3.1% | ||
U.S. Treasury Bond, 2.25%, 02/15/52 | 3,000,000 | 2,468,906 | |
TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost $2,530,604) | 2,468,906 |
Percentage of Net Assets | Shares | Value | |
WARRANTS | 0.5% | ||
Oil & Gas | 0.5% | ||
Occidental Petroleum Corp., Exp. 07/06/2027, Strike $22(a) | 10,535 | 389,479 | |
TOTAL WARRANTS (Cost $380,500) | 389,479 |
19
JOHCM FUNDS TRUST
JOHCM GLOBAL INCOME BUILDER FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
SHORT-TERM INVESTMENTS | 7.1% | ||
Northern Institutional Treasury Portfolio (Premier Class), 1.16%(e) | 5,618,064 | $5,618,064 | |
TOTAL SHORT-TERM INVESTMENTS (Cost $5,618,064) | 5,618,064 | ||
TOTAL INVESTMENTS (Cost $82,264,875) | 103.3% | 82,187,447 | |
NET OTHER ASSETS (LIABILITIES) | (3.3%) | (2,601,966) | |
NET ASSETS | 100.0% | $79,585,481 |
(a)Non-income producing security. |
(b)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers. |
(c)Floating rate security. The rate presented is the rate in effect at June 30, 2022, and the related index and spread are shown parenthetically for each security. |
(d)Current yield is disclosed. Dividends are calculated based on a percentage of the issuer’s net income. |
(e)7-day current yield as of June 30, 2022 is disclosed. |
Abbreviations: |
ADR – American Depositary Receipt |
CDI – CREST Depository Interest |
REG – Registered |
REIT – Real Estate Investment Trust |
At June 30, 2022, the JOHCM Global Income Builder Fund’s investments were concentrated as follows:
Country Allocation | Percentage of Net Assets |
United States | 63.7% |
United Kingdom | 6.2 |
Canada | 4.8 |
France | 4.0 |
Switzerland | 3.8 |
Italy | 2.9 |
Germany | 2.7 |
Singapore | 2.1 |
Netherlands | 2.0 |
Hong Kong | 1.5 |
Chile | 1.5 |
Spain | 1.4 |
South Africa | 1.3 |
Bermuda | 1.1 |
Ireland | 1.0 |
Japan | 1.0 |
South Korea | 0.7 |
Taiwan | 0.7 |
Mexico | 0.6 |
Portugal | 0.3 |
Total | 103.3% |
20
JOHCM FUNDS TRUST
JOHCM GLOBAL SELECT FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
COMMON STOCKS | 99.2% | ||
Australia | 2.2% | ||
Fortescue Metals Group Ltd. | 616,382 | $7,458,273 | |
China | 4.6% | ||
Alibaba Group Holding Ltd.(a) | 561,327 | 8,004,854 | |
Tencent Holdings Ltd. | 166,414 | 7,516,073 | |
15,520,927 | |||
Denmark | 6.0% | ||
Novo Nordisk A/S - Class B | 98,919 | 10,971,256 | |
Orsted A.S.(b) | 88,909 | 9,293,571 | |
20,264,827 | |||
Hong Kong | 2.7% | ||
Hong Kong Exchanges & Clearing Ltd. | 182,915 | 8,997,960 | |
Ireland | 5.2% | ||
Accenture PLC - Class A | 31,630 | 8,782,070 | |
Aptiv PLC(a) | 98,948 | 8,813,298 | |
17,595,368 | |||
Japan | 5.1% | ||
Keyence Corp. | 24,608 | 8,411,845 | |
Sony Group Corp. | 106,400 | 8,700,678 | |
17,112,523 | |||
Netherlands | 4.9% | ||
ASML Holding N.V. | 17,227 | 8,229,476 | |
Koninklijke DSM N.V. | 59,250 | 8,512,681 | |
16,742,157 | |||
Sweden | 2.3% | ||
Boliden AB | 249,191 | 7,925,344 | |
United Kingdom | 4.7% | ||
CNH Industrial N.V. | 685,020 | 7,939,382 | |
Linde PLC | 28,177 | 8,101,733 | |
16,041,115 | |||
United States | 61.5% | ||
AGCO Corp. | 79,543 | 7,850,894 | |
Agilent Technologies, Inc. | 73,779 | 8,762,732 | |
Anthem, Inc. | 18,305 | 8,833,627 | |
Avantor, Inc.(a) | 280,714 | 8,730,205 | |
Catalent, Inc.(a) | 89,285 | 9,579,388 | |
Chart Industries, Inc.(a) | 57,263 | 9,584,681 | |
Estee Lauder Cos. (The), Inc. - Class A | 37,360 | 9,514,471 | |
Henry Schein, Inc.(a) | 114,286 | 8,770,308 | |
Intercontinental Exchange, Inc. | 95,647 | 8,994,644 | |
Intuit, Inc. | 23,407 | 9,021,994 | |
Keysight Technologies, Inc.(a) | 65,083 | 8,971,692 | |
Lam Research Corp. | 18,991 | 8,093,015 | |
Micron Technology, Inc. | 144,828 | 8,006,092 |
21
JOHCM FUNDS TRUST
JOHCM GLOBAL SELECT FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
Microsoft Corp. | 35,618 | $9,147,771 | |
Morningstar, Inc. | 37,550 | 9,080,717 | |
Nasdaq, Inc. | 59,513 | 9,078,113 | |
NVIDIA Corp. | 44,449 | 6,738,024 | |
ON Semiconductor Corp.(a) | 170,133 | 8,559,391 | |
Regeneron Pharmaceuticals, Inc.(a) | 13,057 | 7,718,384 | |
S&P Global, Inc. | 25,556 | 8,613,905 | |
Tenaris S.A. - ADR | 313,002 | 8,041,021 | |
Thermo Fisher Scientific, Inc. | 17,561 | 9,540,540 | |
United Rentals, Inc.(a) | 34,242 | 8,317,724 | |
Vertex Pharmaceuticals, Inc.(a) | 31,227 | 8,799,456 | |
208,348,789 | |||
TOTAL COMMON STOCKS (Cost $296,175,102) | 336,007,283 | ||
TOTAL INVESTMENTS (Cost $296,175,102) | 99.2% | 336,007,283 | |
NET OTHER ASSETS (LIABILITIES) | 0.8% | 2,804,836 | |
NET ASSETS | 100.0% | $338,812,119 |
(a)Non-income producing security. |
(b)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers. |
Abbreviations: |
ADR – American Depositary Receipt |
At June 30, 2022 the industry sectors for the JOHCM Global Select Fund were:
Sector Allocation | % of Net Assets |
Communication Services | 2.2% |
Consumer Discretionary | 7.5 |
Consumer Staples | 2.8 |
Energy | 2.4 |
Financials | 13.2 |
Health Care | 24.1 |
Industrials | 10.0 |
Information Technology | 24.8 |
Materials | 9.5 |
Utilities | 2.7 |
Total | 99.2% |
22
JOHCM FUNDS TRUST
JOHCM INTERNATIONAL OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
COMMON STOCKS | 93.0% | ||
Belgium | 1.3% | ||
Proximus SADP | 1,463 | $21,564 | |
Canada | 5.4% | ||
Alimentation Couche-Tard, Inc. | 1,478 | 57,653 | |
Cameco Corp. | 1,488 | 31,281 | |
88,934 | |||
Denmark | 2.2% | ||
Orsted A.S.(a) | 349 | 36,481 | |
Finland | 2.4% | ||
Wartsila OYJ Abp | 5,074 | 39,508 | |
France | 13.7% | ||
Publicis Groupe S.A. | 925 | 45,230 | |
Sanofi | 597 | 60,273 | |
Thales S.A. | 611 | 74,947 | |
TotalEnergies S.E. | 817 | 43,125 | |
223,575 | |||
Germany | 10.5% | ||
Continental A.G. | 693 | 48,294 | |
Deutsche Boerse A.G. | 418 | 69,912 | |
SAP S.E. | 177 | 16,124 | |
Vitesco Technologies Group A.G.(b) | 989 | 38,244 | |
172,574 | |||
Ireland | 3.8% | ||
CRH PLC | 1,800 | 62,248 | |
Italy | 3.2% | ||
Enel S.p.A. | 9,713 | 53,133 | |
Japan | 7.4% | ||
KDDI Corp. | 807 | 25,510 | |
Nippon Gas Co. Ltd. | 3,000 | 42,541 | |
Nitori Holdings Co. Ltd. | 300 | 28,512 | |
Sugi Holdings Co. Ltd. | 560 | 24,558 | |
121,121 | |||
Netherlands | 5.0% | ||
Heineken Holding N.V. | 663 | 48,253 | |
SBM Offshore N.V. | 2,454 | 33,265 | |
81,518 | |||
Portugal | 3.2% | ||
Galp Energia SGPS S.A. | 4,534 | 53,144 | |
South Korea | 1.9% | ||
LG Household & Health Care Ltd. | 58 | 30,376 | |
Spain | 2.5% | ||
Iberdrola S.A. | 3,923 | 40,684 | |
Sweden | 3.1% | ||
Svenska Handelsbanken AB - Class A | 5,843 | 49,932 |
23
JOHCM FUNDS TRUST
JOHCM INTERNATIONAL OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
Switzerland | 1.1% | ||
Roche Holding A.G. (Genusschein) | 52 | $17,351 | |
United Kingdom | 23.3% | ||
B&M European Value Retail S.A. | 11,494 | 51,307 | |
Beazley PLC | 6,857 | 41,652 | |
Compass Group PLC | 2,765 | 56,546 | |
Hargreaves Lansdown PLC | 2,145 | 20,570 | |
HomeServe PLC | 3,631 | 51,803 | |
Informa PLC(b) | 5,691 | 36,633 | |
Lancashire Holdings Ltd. | 8,583 | 42,127 | |
Rio Tinto PLC | 325 | 19,451 | |
Shell PLC | 2,360 | 61,306 | |
381,395 | |||
United States | 3.0% | ||
Philip Morris International, Inc. | 492 | 48,580 | |
TOTAL COMMON STOCKS (Cost $1,740,068) | 1,522,118 | ||
TOTAL INVESTMENTS (Cost $1,740,068) | 93.0% | 1,522,118 | |
NET OTHER ASSETS (LIABILITIES) | 7.0% | 114,486 | |
NET ASSETS | 100.0% | $1,636,604 |
(a)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers. |
(b)Non-income producing security. |
At June 30, 2022 the industry sectors for the JOHCM International Opportunities Fund were:
Sector Allocation | % of Net Assets |
Communication Services | 7.9% |
Consumer Discretionary | 13.6 |
Consumer Staples | 12.8 |
Energy | 13.6 |
Financials | 13.7 |
Health Care | 4.7 |
Industrials | 10.1 |
Information Technology | 1.0 |
Materials | 5.0 |
Utilities | 10.6 |
Total | 93.0% |
24
JOHCM FUNDS TRUST
JOHCM INTERNATIONAL SELECT FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
COMMON STOCKS | 96.1% | ||
Australia | 2.1% | ||
Fortescue Metals Group Ltd. | 14,559,790 | $176,174,666 | |
Canada | 2.2% | ||
First Quantum Minerals Ltd. | 9,710,735 | 184,226,343 | |
China | 4.3% | ||
Alibaba Group Holding Ltd.(a) | 12,935,371 | 184,466,026 | |
Tencent Holdings Ltd. | 3,834,206 | 173,171,561 | |
357,637,587 | |||
Denmark | 5.7% | ||
Novo Nordisk A/S - Class B | 2,358,651 | 261,601,548 | |
Orsted A.S.(b) | 2,011,191 | 210,227,840 | |
471,829,388 | |||
France | 9.1% | ||
Air Liquide S.A. | 1,295,673 | 173,961,349 | |
L'Oreal S.A. | 613,915 | 211,855,887 | |
Sanofi | 1,980,674 | 199,967,863 | |
Schneider Electric S.E. | 1,499,742 | 177,439,808 | |
763,224,907 | |||
Germany | 5.1% | ||
Deutsche Boerse A.G. | 1,419,034 | 237,337,438 | |
Merck KGaA | 1,112,742 | 187,741,775 | |
425,079,213 | |||
Hong Kong | 3.1% | ||
Hong Kong Exchanges & Clearing Ltd. | 5,238,810 | 257,707,685 | |
Ireland | 7.0% | ||
Accenture PLC - Class A | 722,974 | 200,733,731 | |
Aptiv PLC(a) | 1,739,753 | 154,959,800 | |
ICON PLC(a) | 1,057,789 | 229,222,876 | |
584,916,407 | |||
Italy | 2.3% | ||
Tenaris S.A. | 14,803,202 | 190,344,701 | |
Japan | 11.0% | ||
Advantest Corp. | 3,154,900 | 168,813,193 | |
Japan Exchange Group, Inc. | 10,569,700 | 152,531,490 | |
Keyence Corp. | 519,909 | 177,722,431 | |
ORIX Corp. | 13,004,200 | 218,142,388 | |
Sony Group Corp. | 2,454,300 | 200,696,186 | |
917,905,688 | |||
Netherlands | 7.9% | ||
ASML Holding N.V. | 365,497 | 174,600,844 | |
Koninklijke Ahold Delhaize N.V. | 8,215,778 | 214,037,752 | |
Koninklijke DSM N.V. | 1,384,957 | 198,982,236 | |
QIAGEN N.V.(a) | 1,593,973 | 75,235,525 | |
662,856,357 |
25
JOHCM FUNDS TRUST
JOHCM INTERNATIONAL SELECT FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
South Korea | 2.0% | ||
SK Hynix, Inc. | 2,353,881 | $164,974,716 | |
Switzerland | 9.2% | ||
Alcon, Inc. | 3,052,112 | 213,182,662 | |
Lonza Group A.G. - REG | 347,294 | 185,170,110 | |
Roche Holding A.G. (Genusschein) | 614,035 | 204,892,735 | |
STMicroelectronics N.V. | 5,286,899 | 166,212,174 | |
769,457,681 | |||
United Kingdom | 25.1% | ||
Anglo American PLC | 4,609,547 | 164,801,007 | |
Ashtead Group PLC | 4,111,708 | 172,128,231 | |
AstraZeneca PLC | 1,583,865 | 208,228,218 | |
B&M European Value Retail S.A. | 34,757,864 | 155,153,528 | |
CNH Industrial N.V. | 14,808,138 | 171,010,434 | |
Compass Group PLC | 10,680,274 | 218,418,461 | |
Ferguson PLC | 1,744,860 | 195,154,801 | |
GlaxoSmithKline PLC | 9,726,431 | 209,046,787 | |
Linde PLC | 715,436 | 205,391,590 | |
London Stock Exchange Group PLC | 2,303,177 | 213,975,152 | |
Rio Tinto PLC | 3,065,091 | 183,441,284 | |
2,096,749,493 | |||
TOTAL COMMON STOCKS (Cost $8,084,611,907) | 8,023,084,832 | ||
TOTAL INVESTMENTS (Cost $8,084,611,907) | 96.1% | 8,023,084,832 | |
NET OTHER ASSETS (LIABILITIES) | 3.9% | 325,023,374 | |
NET ASSETS | 100.0% | $8,348,108,206 |
(a)Non-income producing security. |
(b)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers. |
Abbreviations: |
REG – Registered |
At June 30, 2022 the industry sectors for the JOHCM International Select Fund were:
Sector Allocation | % of Net Assets |
Communication Services | 2.1% |
Consumer Discretionary | 10.9 |
Consumer Staples | 5.1 |
Energy | 2.3 |
Financials | 12.9 |
Health Care | 23.7 |
Industrials | 8.6 |
Information Technology | 12.6 |
Materials | 15.4 |
Utilities | 2.5 |
Total | 96.1% |
26
JOHCM FUNDS TRUST
REGNAN GLOBAL EQUITY IMPACT SOLUTIONS
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
CLOSED-END FUNDS | 1.6% | ||
United Kingdom | 1.6% | ||
Syncona Ltd.(a) | 57,247 | $142,161 | |
TOTAL CLOSED-END FUNDS (Cost $148,618) | 142,161 | ||
COMMON STOCKS | 94.7% | ||
Austria | 1.5% | ||
Lenzing A.G. | 1,738 | 140,425 | |
Belgium | 3.8% | ||
Umicore S.A. | 10,008 | 349,456 | |
Brazil | 4.9% | ||
Afya Ltd. - Class A(a) | 24,093 | 239,725 | |
YDUQS Participacoes S.A. | 83,711 | 209,060 | |
448,785 | |||
Canada | 2.5% | ||
ATS Automation Tooling Systems, Inc.(a) | 8,417 | 231,154 | |
Denmark | 10.6% | ||
Novo Nordisk A/S - Class B | 4,960 | 550,121 | |
Orsted A.S.(b) | 3,954 | 413,308 | |
963,429 | |||
France | 7.7% | ||
Hoffmann Green Cement Technologies S.A.S.(a) | 1,501 | 23,312 | |
Sartorius Stedim Biotech | 1,265 | 396,769 | |
Valeo | 14,332 | 276,729 | |
696,810 | |||
Germany | 8.2% | ||
Befesa S.A.(b) | 5,846 | 284,261 | |
Carl Zeiss Meditec A.G. - Bearer | 1,928 | 230,129 | |
Duerr A.G. | 9,908 | 228,013 | |
742,403 | |||
Indonesia | 4.8% | ||
Bank Rakyat Indonesia Persero Tbk PT | 1,555,311 | 433,263 | |
Japan | 3.3% | ||
Horiba Ltd. | 7,091 | 302,078 | |
Netherlands | 9.6% | ||
Alfen Beheer B.V.(a)(b) | 4,220 | 389,874 | |
QIAGEN N.V.(a) | 10,434 | 488,764 | |
878,638 | |||
Norway | 2.3% | ||
TOMRA Systems ASA | 11,376 | 210,988 | |
Switzerland | 4.3% | ||
Lonza Group A.G. - REG | 731 | 389,754 | |
United Kingdom | 5.6% | ||
Abcam PLC(a) | 25,444 | 364,862 | |
Autolus Therapeutics PLC - ADR(a) | 38,100 | 107,823 |
27
JOHCM FUNDS TRUST
REGNAN GLOBAL EQUITY IMPACT SOLUTIONS
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
Home REIT PLC | 22,322 | $30,868 | |
Ilika PLC(a) | 11,304 | 8,187 | |
511,740 | |||
United States | 25.6% | ||
Agilent Technologies, Inc. | 3,594 | 426,859 | |
ANSYS, Inc.(a) | 1,460 | 349,363 | |
Ecolab, Inc. | 799 | 122,854 | |
Evoqua Water Technologies Corp.(a) | 12,819 | 416,746 | |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 10,011 | 379,017 | |
PTC, Inc.(a) | 4,381 | 465,876 | |
Xylem, Inc. | 2,157 | 168,634 | |
2,329,349 | |||
TOTAL COMMON STOCKS (Cost $11,131,879) | 8,628,272 | ||
TOTAL INVESTMENTS (Cost $11,280,497) | 96.3% | 8,770,433 | |
NET OTHER ASSETS (LIABILITIES) | 3.7% | 338,690 | |
NET ASSETS | 100.0% | $9,109,123 |
(a)Non-income producing security. |
(b)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers. |
Abbreviations: |
ADR – American Depositary Receipt |
REG – Registered |
REIT – Real Estate Investment Trust |
At June 30, 2022 the industry sectors for the Regnan Global Equity Impact Solutions were:
Sector Allocation | % of Net Assets |
Consumer Discretionary | 8.0% |
Financials | 10.5 |
Health Care | 32.4 |
Industrials | 21.3 |
Information Technology | 12.3 |
Materials | 7.0 |
Real Estate | 0.3 |
Utilities | 4.5 |
Total | 96.3% |
28
JOHCM FUNDS TRUST
TSW EMERGING MARKETS FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
COMMON STOCKS | 97.4% | ||
Argentina | 0.8% | ||
MercadoLibre, Inc.(a) | 100 | $63,687 | |
Brazil | 5.2% | ||
Ambev S.A. | 43,300 | 110,867 | |
B3 S.A. - Brasil Bolsa Balcao | 42,000 | 87,957 | |
Banco BTG Pactual S.A.(a) | 37,000 | 157,730 | |
Localiza Rent a Car S.A. | 7,000 | 70,101 | |
426,655 | |||
Canada | 0.7% | ||
Fairfax India Holdings Corp.(a)(b) | 5,000 | 53,550 | |
China | 23.6% | ||
Alibaba Group Holding Ltd.(a) | 22,000 | 313,733 | |
Hainan Meilan International Airport Co. Ltd. - Class H(a) | 30,000 | 88,316 | |
JD.com, Inc. - Class A | 476 | 15,335 | |
Kingsoft Corp Ltd. | 15,000 | 58,495 | |
Lenovo Group Ltd. | 194,000 | 181,223 | |
NetEase, Inc. | 20,000 | 367,284 | |
Postal Savings Bank of China Co. Ltd. - Class H(b) | 130,000 | 103,214 | |
Sinotruk Hong Kong Ltd. | 88,000 | 123,363 | |
Tencent Holdings Ltd. | 10,000 | 451,649 | |
Yum China Holdings, Inc. | 2,300 | 111,550 | |
Zijin Mining Group Co. Ltd. - Class H | 90,000 | 110,223 | |
1,924,385 | |||
Czech Republic | 1.7% | ||
CZG - Cezka zbrojovka Group S.E. | 5,500 | 134,891 | |
Egypt | 1.1% | ||
Commercial International Bank Egypt S.A.E. - REG - GDR | 55,000 | 91,300 | |
Georgia | 0.7% | ||
Georgia Capital PLC(a) | 8,000 | 59,015 | |
Greece | 4.2% | ||
Motor Oil Hellas Corinth Refineries S.A. | 9,000 | 166,467 | |
OPAP S.A. | 12,000 | 171,654 | |
338,121 | |||
Hong Kong | 2.6% | ||
China Resources Cement Holdings Ltd. | 130,000 | 87,310 | |
Kingboard Holdings Ltd. | 32,000 | 121,119 | |
208,429 | |||
Hungary | 1.7% | ||
Richter Gedeon Nyrt | 7,500 | 135,396 | |
India | 7.2% | ||
ICICI Bank Ltd. - ADR | 13,000 | 230,620 | |
Reliance Industries Ltd. - GDR(b) | 5,500 | 357,775 | |
588,395 |
29
JOHCM FUNDS TRUST
TSW EMERGING MARKETS FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
Kazakhstan | 0.6% | ||
Kaspi.KZ JSC - REG - GDR | 1,100 | $50,050 | |
Malaysia | 3.4% | ||
Hibiscus Petroleum Bhd. | 330,000 | 74,872 | |
My EG Services Bhd | 1,007,800 | 201,217 | |
276,089 | |||
Mexico | 4.1% | ||
Becle S.A.B. de C.V. | 75,000 | 162,237 | |
Fibra Uno Administracion S.A. de C.V. | 62,000 | 61,755 | |
Qualitas Controladora S.A.B. de C.V. | 24,000 | 110,419 | |
334,411 | |||
Philippines | 0.7% | ||
Wilcon Depot, Inc. | 140,000 | 60,598 | |
Poland | 2.8% | ||
LiveChat Software S.A. | 4,500 | 98,909 | |
Warsaw Stock Exchange | 15,000 | 125,720 | |
224,629 | |||
Singapore | 0.7% | ||
Sea Ltd. - ADR(a) | 900 | 60,174 | |
South Africa | 4.5% | ||
Aspen Pharmacare Holdings Ltd. | 3,500 | 29,913 | |
Naspers Ltd. - Class N | 1,500 | 218,307 | |
Sibanye Stillwater Ltd. | 48,000 | 119,994 | |
368,214 | |||
South Korea | 11.9% | ||
AfreecaTV Co. Ltd. | 1,000 | 61,691 | |
Fila Holdings Corp. | 6,000 | 129,852 | |
Hugel, Inc.(a) | 400 | 32,409 | |
LG Chem Ltd. | 300 | 119,224 | |
NICE Information Service Co. Ltd. | 8,000 | 88,725 | |
Samsung Electronics Co. Ltd. | 7,600 | 333,641 | |
Shinhan Financial Group Co. Ltd. | 7,000 | 199,746 | |
965,288 | |||
Switzerland | 1.1% | ||
Wizz Air Holdings PLC(a)(b) | 4,000 | 85,406 | |
Taiwan | 9.1% | ||
Chailease Holding Co. Ltd. | 11,550 | 80,992 | |
Simplo Technology Co. Ltd. | 19,000 | 162,628 | |
Taiwan Semiconductor Manufacturing Co. Ltd. | 31,000 | 496,275 | |
739,895 | |||
Thailand | 3.1% | ||
Bangkok Bank PCL - REG | 40,000 | 150,474 | |
CP ALL PCL - REG | 60,000 | 101,824 | |
252,298 |
30
JOHCM FUNDS TRUST
TSW EMERGING MARKETS FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
Turkey | 2.8% | ||
KOC Holding A.S. | 33,000 | $72,361 | |
Sok Marketler Ticaret A.S. | 90,000 | 61,793 | |
Turkiye Sise ve Cam Fabrikalari A.S. | 75,300 | 96,994 | |
231,148 | |||
United States | 3.1% | ||
Liberty Latin America Ltd. - Class C(a) | 8,000 | 62,320 | |
Millicom International Cellular S.A.(a) | 9,350 | 134,360 | |
Parade Technologies Ltd. | 1,500 | 58,015 | |
254,695 | |||
TOTAL COMMON STOCKS (Cost $9,598,046) | 7,926,719 | ||
TOTAL INVESTMENTS (Cost $9,598,046) | 97.4% | 7,926,719 | |
NET OTHER ASSETS (LIABILITIES) | 2.6% | 214,744 | |
NET ASSETS | 100.0% | $8,141,463 |
(a)Non-income producing security. |
(b)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers. |
Abbreviations: |
ADR – American Depositary Receipt |
GDR – Global Depositary Receipt |
REG – Registered |
At June 30, 2022 the industry sectors for the TSW Emerging Markets Fund were:
Sector Allocation | % of Net Assets |
Communication Services | 14.7% |
Consumer Discretionary | 13.3 |
Consumer Staples | 5.4 |
Energy | 7.4 |
Financials | 18.4 |
Health Care | 2.4 |
Industrials | 9.3 |
Information Technology | 20.3 |
Materials | 5.4 |
Real Estate | 0.8 |
Total | 97.4% |
31
JOHCM FUNDS TRUST
TSW HIGH YIELD BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Principal Amount | Value | |
CORPORATE BONDS | 82.2% | ||
Aerospace/Defense | 0.5% | ||
TransDigm, Inc. 8.00%, 12/15/25(a) | $50,000 | $50,562 | |
Airlines | 1.0% | ||
United Airlines, Inc. 4.63%, 04/15/29(a) | 126,000 | 106,882 | |
Auto Parts & Equipment | 2.0% | ||
Clarios Global L.P./Clarios U.S. Finance Co. 6.25%, 05/15/26(a) | 224,000 | 215,600 | |
Banks | 1.4% | ||
Freedom Mortgage Corp. 6.63%, 01/15/27(a) | 200,000 | 148,230 | |
Building Materials | 1.7% | ||
Eco Material Technologies, Inc. 7.88%, 01/31/27(a) | 125,000 | 111,100 | |
Patrick Industries, Inc. 4.75%, 05/01/29(a) | 100,000 | 74,423 | |
185,523 | |||
Commercial Services | 9.7% | ||
Alta Equipment Group, Inc. 5.63%, 04/15/26(a) | 200,000 | 171,000 | |
Carriage Services, Inc. 4.25%, 05/15/29(a) | 250,000 | 203,314 | |
CoreCivic, Inc. 8.25%, 04/15/26 | 75,000 | 73,138 | |
Herc Holdings, Inc. 5.50%, 07/15/27(a) | 250,000 | 228,225 | |
Prime Security Services Borrower LLC/Prime Finance, Inc. 6.25%, 01/15/28(a) | 150,000 | 125,489 | |
Rent-A-Center, Inc. 6.38%, 02/15/29(a) | 300,000 | 234,000 | |
1,035,166 | |||
Diversified Financial Services | 10.9% | ||
Burford Capital Global Finance LLC 6.25%, 04/15/28(a) | 300,000 | 262,387 | |
Credit Acceptance Corp. 6.63%, 03/15/26 | 100,000 | 93,630 | |
Enova International, Inc. 8.50%, 09/15/25(a) | 200,000 | 173,942 | |
ILFC E-Capital Trust I 4.85%, 12/21/65(a)(b) | 150,000 | 109,502 | |
Jane Street Group/JSG Finance, Inc. 4.50%, 11/15/29(a) | 175,000 | 155,750 | |
PRA Group, Inc. 5.00%, 10/01/29(a) | 200,000 | 165,662 |
32
JOHCM FUNDS TRUST
TSW HIGH YIELD BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Principal Amount | Value | |
StoneX Group, Inc. 8.63%, 06/15/25(a) | $100,000 | $100,250 | |
World Acceptance Corp. 7.00%, 11/01/26(a) | 150,000 | 107,250 | |
1,168,373 | |||
Electrical Component & Equipments | 1.4% | ||
WESCO Distribution, Inc. 7.13%, 06/15/25(a) | 150,000 | 149,675 | |
Energy-Alternate Sources | 1.8% | ||
Enviva Partners L.P./Enviva Partners Finance Corp. 6.50%, 01/15/26(a) | 200,000 | 193,250 | |
Entertainment | 2.8% | ||
Live Nation Entertainment, Inc. 4.75%, 10/15/27(a) | 80,000 | 70,922 | |
Raptor Acquisition Corp./Raptor Co-Issuer LLC 4.88%, 11/01/26(a) | 100,000 | 87,500 | |
Scientific Games International, Inc. 7.00%, 05/15/28(a) | 150,000 | 140,764 | |
299,186 | |||
Food | 6.5% | ||
Chobani LLC/Chobani Finance Corp., Inc. 4.63%, 11/15/28(a) | 250,000 | 211,250 | |
Fresh Market (The), Inc. 9.75%, 05/01/23(a) | 160,000 | 160,000 | |
Performance Food Group, Inc. 5.50%, 10/15/27(a) | 150,000 | 138,862 | |
United Natural Foods, Inc. 6.75%, 10/15/28(a) | 200,000 | 186,908 | |
697,020 | |||
Forest Products & Paper | 0.7% | ||
Glatfelter Corp. 4.75%, 11/15/29(a) | 100,000 | 70,000 | |
Healthcare-Services | 1.9% | ||
Tenet Healthcare Corp. 6.25%, 02/01/27(a) | 225,000 | 207,093 | |
Home Builders | 3.0% | ||
Forestar Group, Inc. 5.00%, 03/01/28(a) | 175,000 | 142,927 | |
Installed Building Products, Inc. 5.75%, 02/01/28(a) | 200,000 | 177,688 | |
320,615 | |||
Iron/Steel | 3.7% | ||
Allegheny Ludlum LLC 6.95%, 12/15/25 | 399,000 | 391,045 | |
Leisure Time | 6.1% | ||
Carnival Corp. 7.63%, 03/01/26(a) | 175,000 | 135,544 |
33
JOHCM FUNDS TRUST
TSW HIGH YIELD BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Principal Amount | Value | |
NCL Corp. Ltd. 5.88%, 03/15/26(a) | $200,000 | $156,978 | |
Vista Outdoor, Inc. 4.50%, 03/15/29(a) | 312,000 | 238,732 | |
VOC Escrow Ltd. 5.00%, 02/15/28(a) | 150,000 | 120,527 | |
651,781 | |||
Lodging | 3.6% | ||
Marriott Ownership Resorts, Inc. 4.75%, 01/15/28 | 250,000 | 216,849 | |
Travel + Leisure Co. 6.60%, 10/01/25 | 175,000 | 169,869 | |
386,718 | |||
Machinery-Construction & Mining | 1.2% | ||
Vertiv Group Corp. 4.13%, 11/15/28(a) | 150,000 | 121,788 | |
Media | 0.8% | ||
CCO Holdings LLC/CCO Holdings Capital Corp. 4.50%, 05/01/32(a) | 100,000 | 80,970 | |
Oil & Gas | 2.1% | ||
Colgate Energy Partners III LLC 5.88%, 07/01/29(a) | 250,000 | 219,062 | |
Oil & Gas Services | 2.1% | ||
Archrock Partners L.P./Archrock Partners Finance Corp. 6.25%, 04/01/28(a) | 250,000 | 221,325 | |
Pharmaceuticals | 2.0% | ||
AdaptHealth LLC 5.13%, 03/01/30(a) | 250,000 | 210,727 | |
Pipelines | 4.9% | ||
Blue Racer Midstream LLC/Blue Racer Finance Corp. 7.63%, 12/15/25(a) | 100,000 | 94,517 | |
Genesis Energy L.P./Genesis Energy Finance Corp. 8.00%, 01/15/27 | 225,000 | 199,125 | |
NuStar Logistics L.P. 6.00%, 06/01/26 | 250,000 | 233,750 | |
527,392 | |||
Real Estate | 1.4% | ||
Realogy Group LLC/Realogy Co-Issuer Corp. 5.75%, 01/15/29(a) | 200,000 | 151,664 | |
Real Estate Investment Trusts | 1.6% | ||
New Residential Investment Corp. 6.25%, 10/15/25(a) | 200,000 | 174,153 | |
Retail | 6.1% | ||
Arko Corp. 5.13%, 11/15/29(a) | 125,000 | 94,691 | |
Bath & Body Works, Inc. 6.69%, 01/15/27 | 150,000 | 140,222 |
34
JOHCM FUNDS TRUST
TSW HIGH YIELD BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Principal Amount | Value | |
BlueLinx Holdings, Inc. 6.00%, 11/15/29(a) | $300,000 | $234,000 | |
Dillard's, Inc. 7.75%, 07/15/26 | 175,000 | 184,665 | |
653,578 | |||
Trucking & Leasing | 1.3% | ||
Fortress Transportation and Infrastructure Investors LLC 6.50%, 10/01/25(a) | 150,000 | 141,527 | |
TOTAL CORPORATE BONDS (Cost $10,276,843) | 8,778,905 | ||
FOREIGN ISSUER BONDS | 14.1% | ||
Chemicals | 2.0% | ||
Methanex Corp. 5.25%, 12/15/29 | 250,000 | 211,352 | |
Commercial Services | 1.9% | ||
Cimpress PLC 7.00%, 06/15/26(a) | 250,000 | 199,175 | |
Healthcare-Services | 1.8% | ||
Akumin, Inc. 7.00%, 11/01/25(a) | 250,000 | 193,778 | |
Holding Companies-Diversified | 1.8% | ||
Stena International S.A. 6.13%, 02/01/25(a) | 200,000 | 190,077 | |
Investment Companies | 1.6% | ||
Adient Global Holdings Ltd. 4.88%, 08/15/26(a) | 200,000 | 175,532 | |
Mining | 1.7% | ||
First Quantum Minerals Ltd. 6.88%, 10/15/27(a) | 200,000 | 178,812 | |
Pharmaceuticals | 1.2% | ||
Bausch Health Cos., Inc. 5.00%, 01/30/28(a) | 250,000 | 133,125 | |
Telecommunications | 2.1% | ||
Sable International Finance Ltd. 5.75%, 09/07/27(a) | 250,000 | 229,150 | |
TOTAL FOREIGN ISSUER BONDS (Cost $1,875,231) | 1,511,001 |
Percentage of Net Assets | Shares | Value | |
SHORT-TERM INVESTMENTS | 3.4% | ||
Northern Institutional Treasury Portfolio (Premier Class), 1.16%(c) | 361,637 | 361,637 | |
TOTAL SHORT-TERM INVESTMENTS (Cost $361,637) | 361,637 | ||
TOTAL INVESTMENTS (Cost $12,513,711) | 99.7% | 10,651,543 | |
NET OTHER ASSETS (LIABILITIES) | 0.3% | 31,077 | |
NET ASSETS | 100.0% | $10,682,620 |
35
JOHCM FUNDS TRUST
TSW HIGH YIELD BOND FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
(a)Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers. |
(b)The coupon rate equals 155 basis points plus the highest of the LIBOR 3 Month, the Constant Maturity Treasury 10 year rate, and the Constant Maturity Treasury 30 year rate, with a maximum of 12.95%. |
(c)7-day current yield as of June 30, 2022 is disclosed. |
At June 30, 2022 the TSW High Yield Bond Fund's investments were concentrated as follows:
Fixed Income Credit Ratings | % of Net Assets |
BAA | 1.8% |
BA | 22.7 |
B | 72.1 |
CAA | 1.5 |
Cash | 2.0 |
36
JOHCM FUNDS TRUST
TSW LARGE CAP VALUE FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
COMMON STOCKS | 90.8% | ||
Belgium | 2.0% | ||
Anheuser-Busch InBev S.A./N.V. - ADR | 15,000 | $809,250 | |
Japan | 2.8% | ||
Nintendo Co. Ltd. - ADR | 21,000 | 1,130,220 | |
United Kingdom | 4.8% | ||
Liberty Global PLC - Class A(a) | 44,000 | 926,200 | |
Willis Towers Watson PLC | 5,000 | 986,950 | |
1,913,150 | |||
United States | 81.2% | ||
Alphabet, Inc. - Class C(a) | 337 | 737,171 | |
Applied Materials, Inc. | 4,000 | 363,920 | |
Arch Capital Group Ltd.(a) | 29,000 | 1,319,210 | |
Bank of America Corp. | 20,000 | 622,600 | |
Berkshire Hathaway, Inc. - Class B(a) | 5,300 | 1,447,006 | |
Charles Schwab (The) Corp. | 11,100 | 701,298 | |
Chesapeake Energy Corp. | 6,000 | 486,600 | |
Cigna Corp. | 4,709 | 1,240,916 | |
Cisco Systems, Inc. | 14,000 | 596,960 | |
Cleveland-Cliffs, Inc.(a) | 23,000 | 353,510 | |
CVS Health Corp. | 11,200 | 1,037,792 | |
Dell Technologies, Inc. - Class C | 9,000 | 415,890 | |
Dollar Tree, Inc.(a) | 4,000 | 623,400 | |
Dominion Energy, Inc. | 13,000 | 1,037,530 | |
FleetCor Technologies, Inc.(a) | 6,000 | 1,260,660 | |
HF Sinclair Corp. | 12,600 | 569,016 | |
Intel Corp. | 21,000 | 785,610 | |
Kinder Morgan, Inc. | 60,600 | 1,015,656 | |
Kraft Heinz (The) Co. | 23,100 | 881,034 | |
Liberty Broadband Corp. - Class C(a) | 7,100 | 821,044 | |
Liberty Medi Corp. - Liberty SiriusXM - Class C(a) | 19,225 | 693,061 | |
Lockheed Martin Corp. | 3,800 | 1,633,848 | |
McKesson Corp. | 2,100 | 685,041 | |
Merck & Co, Inc. | 13,000 | 1,185,210 | |
Meta Platforms, Inc. - Class A(a) | 6,000 | 967,500 | |
Mosaic (The) Co. | 7,000 | 330,610 | |
Occidental Petroleum Corp. | 8,000 | 471,040 | |
Pfizer, Inc. | 19,700 | 1,032,871 | |
Post Holdings, Inc.(a) | 20,500 | 1,688,175 | |
Progressive (The) Corp. | 10,600 | 1,232,462 | |
Raytheon Technologies Corp. | 9,000 | 864,990 | |
Regeneron Pharmaceuticals, Inc.(a) | 1,400 | 827,582 | |
TJX Cos. (The), Inc. | 11,000 | 614,350 | |
Verizon Communications, Inc. | 19,125 | 970,594 | |
Warner Bros Discovery, Inc.(a) | 26,217 | 351,832 |
37
JOHCM FUNDS TRUST
TSW LARGE CAP VALUE FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
Percentage of Net Assets | Shares | Value | |
Wells Fargo & Co. | 25,000 | $979,250 | |
Western Digital Corp.(a) | 9,000 | 403,470 | |
Westlake Corp. | 3,000 | 294,060 | |
Williams Cos. (The), Inc. | 38,325 | 1,196,123 | |
32,738,892 | |||
TOTAL COMMON STOCKS (Cost $31,707,127) | 36,591,512 |
SHORT-TERM INVESTMENTS | 9.1% | ||
Northern Institutional Treasury Portfolio (Premier Class), 1.16%(b) | 3,687,842 | 3,687,842 | |
TOTAL SHORT-TERM INVESTMENTS (Cost $3,687,842) | 3,687,842 | ||
TOTAL INVESTMENTS (Cost $35,394,969) | 99.9% | 40,279,354 | |
NET OTHER ASSETS (LIABILITIES) | 0.1% | 20,893 | |
NET ASSETS | 100.0% | $40,300,247 |
(a)Non-income producing security. |
(b)7-day current yield as of June 30, 2022 is disclosed. |
Abbreviations: |
ADR – American Depositary Receipt |
At June 30, 2022 the industry sectors (excluding short-term investments) for the TSW Large Cap Value Fund were:
Sector Allocation | % of Net Assets |
Communication Services | 16.3% |
Consumer Discretionary | 3.1 |
Consumer Staples | 8.4 |
Energy | 9.3 |
Financials | 18.1 |
Health Care | 14.9 |
Industrials | 6.2 |
Information Technology | 9.5 |
Materials | 2.4 |
Utilities | 2.6 |
Total | 90.8% |
38