Schedule of Investments
January 31, 2024 (Unaudited)
LSV Value Equity Fund | ||||||||
Shares | Value (000) | |||||||
Common Stock (99.7%) | ||||||||
Communication Services (7.1%) |
| |||||||
AT&T | 1,297,800 | $ | 22,958 | |||||
Comcast, Cl A | 596,900 | 27,780 | ||||||
Fox | 230,600 | 7,449 | ||||||
Meta Platforms, Cl A* | 26,300 | 10,261 | ||||||
Nexstar Media Group, Cl A | 20,867 | 3,708 | ||||||
Playtika Holding* | 338,246 | 2,442 | ||||||
TEGNA | 112,950 | 1,761 | ||||||
Verizon Communications | 415,400 | 17,592 | ||||||
|
| |||||||
93,951 | ||||||||
|
| |||||||
Consumer Discretionary (9.1%) |
| |||||||
American Axle & Manufacturing Holdings* | 302,500 | 2,447 | ||||||
BorgWarner | 154,200 | 5,228 | ||||||
Capri Holdings* | 66,800 | 3,256 | ||||||
Carter’s | 65,900 | 4,985 | ||||||
Dick’s Sporting Goods | 26,100 | 3,891 | ||||||
eBay | 100,500 | 4,127 | ||||||
Ford Motor | 687,700 | 8,060 | ||||||
General Motors | 384,800 | 14,930 | ||||||
Goodyear Tire & Rubber* | 264,800 | 3,691 | ||||||
Group 1 Automotive | 24,300 | 6,319 | ||||||
H&R Block | 134,800 | 6,314 | ||||||
Harley-Davidson | 229,000 | 7,431 | ||||||
Kohl’s | 116,100 | 2,991 | ||||||
Macy’s | 198,700 | 3,634 | ||||||
ODP* | 124,465 | 6,365 | ||||||
Phinia | 30,840 | 933 | ||||||
PulteGroup | 160,000 | 16,730 | ||||||
Tri Pointe Homes* | 282,000 | 9,737 | ||||||
Upbound Group, Cl A | 120,400 | 3,997 | ||||||
Whirlpool | 38,300 | 4,195 | ||||||
|
| |||||||
119,261 | ||||||||
|
| |||||||
Consumer Staples (6.0%) |
| |||||||
Altria Group | 200,900 | 8,060 | ||||||
Bunge Global | 48,530 | 4,275 | ||||||
Conagra Brands | 223,500 | 6,515 | ||||||
Energizer Holdings | 110,800 | 3,503 | ||||||
Ingredion | 54,900 | 5,906 | ||||||
Kraft Heinz | 298,500 | 11,083 | ||||||
Kroger | 374,200 | 17,265 | ||||||
Molson Coors Beverage, Cl B | 246,300 | 15,219 | ||||||
Spectrum Brands Holdings | 31,300 | 2,461 | ||||||
Walgreens Boots Alliance | 153,100 | 3,455 | ||||||
|
| |||||||
77,742 | ||||||||
|
| |||||||
Energy (8.0%) |
| |||||||
APA | 185,700 | 5,818 | ||||||
California Resources | 91,800 | 4,377 | ||||||
ExxonMobil | 311,600 | 32,035 | ||||||
HF Sinclair | 182,300 | 10,298 | ||||||
Marathon Oil | 556,100 | 12,707 |
LSV Value Equity Fund | ||||||||
Shares | Value (000) | |||||||
Energy (continued) |
| |||||||
Marathon Petroleum | 97,100 | $ | 16,080 | |||||
Phillips 66 | 98,540 | 14,220 | ||||||
Valero Energy | 57,500 | 7,987 | ||||||
Vitesse Energy | 20,097 | 422 | ||||||
|
| |||||||
103,944 | ||||||||
|
| |||||||
Financials (22.9%) |
| |||||||
Aflac | 142,500 | 12,018 | ||||||
Ally Financial | 148,800 | 5,458 | ||||||
American Financial Group | 33,800 | 4,070 | ||||||
American International Group | 203,000 | 14,111 | ||||||
Ameriprise Financial | 33,700 | 13,036 | ||||||
Annaly Capital Management‡ | 172,800 | 3,316 | ||||||
Bank of America | 155,000 | 5,272 | ||||||
Bank of New York Mellon | 338,400 | 18,768 | ||||||
BankUnited | 118,900 | 3,360 | ||||||
Blue Owl Capital | 235,100 | 3,484 | ||||||
Capital One Financial | 50,800 | 6,874 | ||||||
Citigroup | 382,600 | 21,491 | ||||||
Citizens Financial Group | 194,200 | 6,350 | ||||||
CNO Financial Group | 278,100 | 7,559 | ||||||
Discover Financial Services | 57,800 | 6,099 | ||||||
Everest Group | 12,700 | 4,889 | ||||||
Fifth Third Bancorp | 153,100 | 5,242 | ||||||
First Horizon | 406,000 | 5,781 | ||||||
Global Payments | 31,800 | 4,237 | ||||||
Goldman Sachs Group | 24,400 | 9,370 | ||||||
Hartford Financial Services Group | 160,800 | 13,983 | ||||||
Huntington Bancshares | 367,400 | 4,677 | ||||||
Lincoln National | 102,200 | 2,805 | ||||||
M&T Bank | 40,900 | 5,648 | ||||||
MetLife | 133,800 | 9,275 | ||||||
MGIC Investment | 484,200 | 9,606 | ||||||
Navient | 387,800 | 6,678 | ||||||
OneMain Holdings, Cl A | 76,700 | 3,651 | ||||||
PayPal Holdings* | 129,700 | 7,957 | ||||||
Popular | 68,600 | 5,862 | ||||||
Radian Group | 302,800 | 8,775 | ||||||
Regions Financial | 462,400 | 8,633 | ||||||
State Street | 170,700 | 12,610 | ||||||
Stifel Financial | 72,900 | 5,318 | ||||||
Voya Financial | 65,500 | 4,740 | ||||||
Wells Fargo | 417,600 | 20,955 | ||||||
Western Union | 366,100 | 4,602 | ||||||
Zions Bancorp | 104,000 | 4,358 | ||||||
|
| |||||||
300,918 | ||||||||
|
| |||||||
Health Care (16.8%) |
| |||||||
AbbVie | 25,800 | 4,242 | ||||||
Amgen | 58,400 | 18,353 | ||||||
Bristol-Myers Squibb | 375,200 | 18,336 | ||||||
Cardinal Health | 106,100 | 11,585 |
1
Schedule of Investments
January 31, 2024 (Unaudited)
LSV Value Equity Fund | ||||||||
Shares | Value (000) | |||||||
Health Care (continued) |
| |||||||
Centene* | 98,700 | $ | 7,433 | |||||
Cigna Group | 46,400 | 13,964 | ||||||
CVS Health | 180,400 | 13,416 | ||||||
DaVita* | 28,300 | 3,061 | ||||||
Gilead Sciences | 280,300 | 21,936 | ||||||
HCA Healthcare | 21,400 | 6,525 | ||||||
Incyte* | 61,400 | 3,609 | ||||||
Inmode* | 97,300 | 2,305 | ||||||
Jazz Pharmaceuticals* | 64,400 | 7,903 | ||||||
Johnson & Johnson | 53,060 | 8,431 | ||||||
McKesson | 28,100 | 14,047 | ||||||
Merck | 240,100 | 28,999 | ||||||
Organon | 134,600 | 2,241 | ||||||
Pfizer | 493,000 | 13,351 | ||||||
QuidelOrtho* | 43,350 | 2,970 | ||||||
United Therapeutics* | 19,100 | 4,102 | ||||||
Universal Health Services, Cl B | 37,700 | 5,987 | ||||||
Viatris, Cl W | 517,700 | 6,093 | ||||||
|
| |||||||
218,889 | ||||||||
|
| |||||||
Industrials (11.6%) |
| |||||||
AGCO | 100,800 | 12,331 | ||||||
Alaska Air Group* | 52,000 | 1,863 | ||||||
Allison Transmission Holdings | 198,600 | 12,023 | ||||||
CNH Industrial | 679,000 | 8,148 | ||||||
Cummins | 50,100 | 11,989 | ||||||
Delta Air Lines | 133,800 | 5,237 | ||||||
Deluxe | 165,400 | 3,128 | ||||||
EMCOR Group | 18,800 | 4,288 | ||||||
FedEx | 61,000 | 14,719 | ||||||
Huntington Ingalls Industries | 17,600 | 4,557 | ||||||
Lockheed Martin | 12,900 | 5,540 | ||||||
ManpowerGroup | 92,400 | 6,850 | ||||||
Mueller Industries | 184,500 | 8,856 | ||||||
NEXTracker, Cl A* | 38,930 | 1,762 | ||||||
Oshkosh | 50,910 | 5,605 | ||||||
Owens Corning | 101,000 | 15,305 | ||||||
Ryder System | 91,800 | 10,426 | ||||||
Snap-on | 19,600 | 5,683 | ||||||
Textron | 133,600 | 11,317 | ||||||
United Airlines Holdings* | 127,400 | 5,272 | ||||||
|
| |||||||
154,899 | ||||||||
|
| |||||||
Information Technology (11.0%) |
| |||||||
Amdocs | 76,100 | 6,977 | ||||||
Amkor Technology | 283,800 | 8,985 | ||||||
Applied Materials | 49,700 | 8,166 | ||||||
Arrow Electronics* | 84,600 | 9,403 | ||||||
Cisco Systems | 358,100 | 17,970 | ||||||
Dell Technologies, Cl C | 138,800 | 11,504 | ||||||
Diodes* | 24,500 | 1,649 | ||||||
DXC Technology* | 207,400 | 4,521 | ||||||
Flextronics International* | 223,500 | 5,306 |
LSV Value Equity Fund | ||||||||
Shares | Value (000) | |||||||
Information Technology (continued) |
| |||||||
Hewlett Packard Enterprise | 625,500 | $ | 9,564 | |||||
HP | 464,000 | 13,322 | ||||||
Intel | 219,200 | 9,443 | ||||||
International Business Machines | 35,900 | 6,593 | ||||||
Jabil | 52,100 | 6,528 | ||||||
QUALCOMM | 77,300 | 11,480 | ||||||
Skyworks Solutions | 30,600 | 3,196 | ||||||
Vishay Intertechnology | 220,600 | 4,794 | ||||||
Xerox Holdings | 290,800 | 5,368 | ||||||
|
| |||||||
144,769 | ||||||||
|
| |||||||
Materials (4.4%) |
| |||||||
Berry Global Group | 152,200 | 9,963 | ||||||
Chemours | 4,681 | 141 | ||||||
Eastman Chemical | 55,400 | 4,629 | ||||||
Graphic Packaging Holding | 165,100 | 4,212 | ||||||
Ingevity* | 25,400 | 1,107 | ||||||
LyondellBasell Industries, Cl A | 57,100 | 5,374 | ||||||
NewMarket | 8,700 | 4,853 | ||||||
O-I Glass, Cl I* | 258,800 | 3,768 | ||||||
Reliance Steel & Aluminum | 32,900 | 9,390 | ||||||
Steel Dynamics | 116,800 | 14,097 | ||||||
|
| |||||||
57,534 | ||||||||
|
| |||||||
Real Estate (1.2%) |
| |||||||
Highwoods Properties‡ | 118,200 | 2,715 | ||||||
Host Hotels & Resorts‡ | 237,200 | 4,559 | ||||||
Office Properties Income Trust‡ | 59,778 | 219 | ||||||
Piedmont Office Realty Trust, Cl A‡ | 376,265 | 2,559 | ||||||
Service Properties Trust‡ | 262,429 | 2,029 | ||||||
Simon Property Group‡ | 28,400 | 3,936 | ||||||
|
| |||||||
16,017 | ||||||||
|
| |||||||
Utilities (1.6%) |
| |||||||
NRG Energy | 120,900 | 6,413 | ||||||
UGI | 132,400 | 2,931 | ||||||
Vistra | 285,700 | 11,722 | ||||||
|
| |||||||
21,066 | ||||||||
|
| |||||||
TOTAL COMMON STOCK |
| 1,308,990 | ||||||
|
|
2
Schedule of Investments
January 31, 2024 (Unaudited)
LSV Value Equity Fund | ||||||||
Face Amount (000) | Value (000) | |||||||
Repurchase Agreement (1.6%) |
| |||||||
South Street Securities 4.950%, dated 01/31/2024, to be repurchased on 02/01/2024, repurchase price $20,526 (collateralized by various U.S. Treasury obligations, ranging in par value $0 - $8,381, 0.375% - 4.500%, 04/30/2025 – 11/15/2033; total market value $20,933) | $ | 20,523 | $ | 20,523 | ||||
|
| |||||||
TOTAL REPURCHASE AGREEMENT |
| 20,523 | ||||||
|
| |||||||
Total Investments – 101.3% |
| $ | 1,329,513 | |||||
|
|
Percentages are based on Net Assets of $1,313,197 (000).
* | Non-income producing security. |
‡ | Real Estate Investment Trust. |
Cl — Class
LSV-QH-001-4100
3