Aggressive
Investors
1
Fund
Schedule
of
Investments
(Unaudited)
1
Showing
percentage
of
net
assets
as
of
March
31,
2021
bridgewayfunds.com
Industry
Company
Shares
Value
.
Common
Stocks
-
99.88%
Communication
Services
-
11
.08
%
Altice
USA,
Inc.,
Class A*
56,000
$
1,821,680
Baidu,
Inc.,
ADR*
6,700
1,457,585
Discovery,
Inc.,
Class A*
63,700
2,768,402
DISH
Network
Corp.,
Class A*
52,000
1,882,400
Fox
Corp.,
Class A
60,700
2,191,877
Liberty
Global
PLC,
Class C*
72,500
1,851,650
Lumen
Technologies,
Inc.+
138,100
1,843,635
Pinterest,
Inc.,
Class A*
33,500
2,480,005
Sirius
XM
Holdings,
Inc.+
244,300
1,487,787
Zynga,
Inc.,
Class A*
220,000
2,246,200
$
20,031,221
Consumer
Discretionary
-
14
.39
%
Amazon.com,
Inc.*
1,040
3,217,843
Chegg,
Inc.*+
22,500
1,927,350
Dollar
General
Corp.
6,800
1,377,816
Etsy,
Inc.*
11,300
2,278,871
Faurecia
SE*
1,812
96,530
Lennar
Corp.,
Class A
18,500
1,872,755
Lowe's
Cos.,
Inc.
11,700
2,225,106
Mohawk
Industries,
Inc.*
15,100
2,903,881
NIKE,
Inc.,
Class B
13,000
1,727,570
PulteGroup,
Inc.
37,300
1,956,012
Stellantis
NV+
106,400
1,892,856
Tesla,
Inc.*
4,000
2,671,720
Whirlpool
Corp.+
8,500
1,872,975
26,021,285
Consumer
Staples
-
4
.94
%
Boston
Beer
Co.,
Inc.
(The),
Class A*
1,800
2,171,304
Costco
Wholesale
Corp.
7,500
2,643,600
Hormel
Foods
Corp.+
35,000
1,672,300
Kroger
Co.
(The)
68,000
2,447,320
8,934,524
Energy
-
4
.32
%
Canadian
Natural
Resources,
Ltd.
40,000
1,234,800
ConocoPhillips
37,000
1,959,890
Imperial
Oil,
Ltd.+
124,000
2,998,320
Suncor
Energy,
Inc.
78,000
1,630,200
7,823,210
Financials
-
15
.05
%
Ally
Financial,
Inc.
53,500
2,418,735
Ameriprise
Financial,
Inc.
15,500
3,602,975
Industry
Company
Shares
Value
Financials
(continued)
Bank
of
America
Corp.
84,600
3,273,174
Charles
Schwab
Corp.
(The)
38,803
2,529,180
Huntington
Bancshares,
Inc.
135,600
2,131,632
M&T
Bank
Corp.
11,000
1,667,710
MarketAxess
Holdings,
Inc.
3,000
1,493,760
MetLife,
Inc.
34,000
2,066,860
Morgan
Stanley
24,100
1,871,606
RenaissanceRe
Holdings,
Ltd.
10,000
1,602,500
Synchrony
Financial
62,300
2,533,118
UBS
Group
AG+
130,000
2,018,900
$
27,210,150
Health
Care
-
8
.11
%
Align
Technology,
Inc.*
3,000
1,624,590
Biogen,
Inc.*
5,900
1,650,525
DaVita,
Inc.*
19,300
2,079,961
IDEXX
Laboratories,
Inc.*
4,000
1,957,240
Repligen
Corp.*
10,700
2,080,187
Seagen,
Inc.*
8,200
1,138,652
Select
Medical
Holdings
Corp.*
68,000
2,318,800
Zoetis,
Inc.
11,500
1,811,020
14,660,975
Industrials
-
7
.00
%
Fastenal
Co.
47,000
2,363,160
Generac
Holdings,
Inc.*
11,900
3,896,655
Graco,
Inc.
25,800
1,847,796
Rollins,
Inc.+
62,850
2,163,297
Sunrun,
Inc.*+
12,000
725,760
United
Parcel
Service,
Inc.,
Class B
9,800
1,665,902
12,662,570
Information
Technology
-
29
.31
%
Advanced
Micro
Devices,
Inc.*
19,000
1,491,500
Apple,
Inc.
26,000
3,175,900
Applied
Materials,
Inc.
18,500
2,471,600
Cadence
Design
Systems,
Inc.*
24,800
3,397,352
Coupa
Software,
Inc.*
7,300
1,857,704
Dropbox,
Inc.,
Class A*+
68,400
1,823,544
Five9,
Inc.*
14,600
2,282,418
Fortinet,
Inc.*
13,500
2,489,670
Genpact,
Ltd.
39,200
1,678,544
Globant
SA*
8,700
1,806,207
Aggressive
Investors
1
Fund
Schedule
of
Investments
(Unaudited)
(continued)
2
Showing
percentage
of
net
assets
as
of
March
31,
2021
Quarterly
Report
|
March
31,
2021
(Unaudited)
Industry
Company
Shares
Value
Common
Stocks
(continued)
Information
Technology
(continued)
HP,
Inc.
60,200
1,911,350
HubSpot,
Inc.*
3,500
1,589,735
Logitech
International
SA+
24,000
2,508,000
Mastercard,
Inc.,
Class A
5,000
1,780,250
Microsoft
Corp.
14,500
3,418,665
NortonLifeLock,
Inc.
78,000
1,658,280
NVIDIA
Corp.
4,000
2,135,720
Palo
Alto
Networks,
Inc.*
4,700
1,513,682
QUALCOMM,
Inc.
11,800
1,564,562
Seagate
Technology
PLC+
26,400
2,026,200
Taiwan
Semiconductor
Manufacturing
Co.,
Ltd.,
ADR
19,000
2,247,320
Ubiquiti,
Inc.
5,200
1,551,160
Ultra
Clean
Holdings,
Inc.*+
33,000
1,915,320
Universal
Display
Corp.
11,700
2,770,209
Zendesk,
Inc.*+
14,600
1,936,252
$
53,001,144
Materials
-
1
.71
%
CF
Industries
Holdings,
Inc.
28,300
1,284,254
Crown
Holdings,
Inc.
18,700
1,814,648
3,098,902
Real
Estate
-
3
.97
%
American
Homes
4
Rent,
Class A
60,000
2,000,400
Brookfield
Property
REIT,
Inc.,
Class A+
98,700
1,771,665
Crown
Castle
International
Corp.
8,300
1,428,679
Realty,
Income
Corp.
31,200
1,981,200
7,181,944
TOTAL
COMMON
STOCKS
-
99.88%
180,625,925
(Cost
$142,244,674)
^
Rate^
B
Shares
B
Value
.
Money
Market
Fund
-
0.40%
Fidelity
Investments
Money
Market
Government
Portfolio
Class
I
0.01%
725,354
725,354
TOTAL
MONEY
MARKET
FUND
-
0.40%
725,354
(Cost
$725,354)
^
Rate^
B
Shares
B
Value
.
Investments
Purchased
With
Cash
Proceeds
From
Securities
Lending
-
3.33%
Fidelity
Investments
Money
Market
Government
Portfolio
Class
I**
0.01%
6,024,034
$
6,024,034
TOTAL
INVESTMENTS
PURCHASED
WITH
CASH
PROCEEDS
FROM
SECURITIES
LENDING
-
3.33%
6,024,034
(Cost
$6,024,034)
TOTAL
INVESTMENTS
-
103.61%
$
187,375,313
(Cost
$148,994,062)
Liabilities
in
Excess
of
Other
Assets
-
(3.61%)
(
6,536,740
)
NET
ASSETS
-
100.00%
$
180,838,573
*
Non-income
producing
security.
**
This
security
represents
the
investment
of
the
cash
collateral
received
in
connection
with
securities
out
on
loan
as
of
March
31,
2021.
^
Rate
disclosed
as
of
March
31,
2021.
+
This
security
or
a
portion
of
the
security
is
out
on
loan
as
of
March
31,
2021.
Total
loaned
securities
had
a
value
of
$21,626,396
as
of
March
31,
2021.
ADR
-
American
Depositary
Receipt
PLC
-
Public
Limited
Company
Summary
of
inputs
used
to
value
the
Fund’s
investments
as
of
3/31/2021
:
Valuation
Inputs
Investment
in
Securities
(Value)
Level
1
Quoted
Prices
Level
2
Significant
Observable
Inputs
Level
3
Significant
Unobservable
Inputs
Total
Common
Stocks
(a)
$
180,625,925
$
–
$
–
$
180,625,925
Money
Market
Fund
–
725,354
–
725,354
Investments
Purchased
With
Cash
Proceeds
From
Securities
Lending
–
6,024,034
–
6,024,034
TOTAL
$180,625,925
$6,749,388
$–
$187,375,313
(a)
-
Please
refer
to
the
Schedule
of
Investments
for
the
industry
classifications
of
these
portfolio
holdings.