Holdings of the Fund as of 11/17/2025
Total Number of Holdings (excluding cash): 104
| Brighthouse Financial, Inc. |
BHF |
10922N103 |
Life Insurance |
675,653 |
$44,336,349.86 |
2.16% |
| RenaissanceRe Holdings Ltd. |
RNR |
G7496G103 |
Non-life Insurance |
141,235 |
$37,110,908.60 |
1.81% |
| Assured Guaranty Ltd. |
AGO |
G0585R106 |
Non-life Insurance |
423,672 |
$36,753,546.00 |
1.79% |
| SoFi Technologies, Inc. |
SOFI |
83406F102 |
Finance and Credit Services |
1,357,430 |
$36,704,907.20 |
1.79% |
| Arch Capital Group Ltd. |
ACGL |
G0450A105 |
Non-life Insurance |
395,275 |
$36,290,197.75 |
1.77% |
| The Bank of New York Mellon Corporation |
BK |
064058100 |
Investment Banking and Brokerage Services |
329,132 |
$35,141,423.64 |
1.72% |
| Nu Holdings Ltd. (Class A) |
NU |
G6683N103 |
Finance and Credit Services |
2,240,060 |
$34,944,936.00 |
1.71% |
| The Goldman Sachs Group, Inc. |
GS |
38141G104 |
Investment Banking and Brokerage Services |
45,040 |
$34,931,222.40 |
1.71% |
| Unum Group |
UNM |
91529Y106 |
Life Insurance |
461,083 |
$35,005,421.36 |
1.71% |
| American International Group, Inc. |
AIG |
026874784 |
Non-life Insurance |
456,616 |
$34,912,859.36 |
1.70% |
| MGIC Investment Corporation |
MTG |
552848103 |
Finance and Credit Services |
1,264,131 |
$34,890,015.60 |
1.70% |
| Citigroup Inc. |
C |
172967424 |
Banks |
353,335 |
$34,693,963.65 |
1.69% |
| Rithm Capital Corp. |
RITM |
64828T201 |
Mortgage Real Estate Investment Trusts |
3,148,671 |
$34,194,567.06 |
1.67% |
| T. Rowe Price Group, Inc. |
TROW |
74144T108 |
Investment Banking and Brokerage Services |
349,398 |
$34,038,353.16 |
1.66% |
| Interactive Brokers Group, Inc. (Class A) |
IBKR |
45841N107 |
Investment Banking and Brokerage Services |
521,190 |
$33,048,657.90 |
1.61% |
| Bank OZK |
OZK |
06417N103 |
Banks |
703,470 |
$29,995,960.80 |
1.46% |
| Markel Group Inc |
MKL |
570535104 |
Non-life Insurance |
14,288 |
$29,189,526.72 |
1.42% |
| Robinhood Markets, Inc. (Class A) |
HOOD |
770700102 |
Investment Banking and Brokerage Services |
250,477 |
$29,047,817.69 |
1.42% |
| Axis Capital Holdings Limited |
AXS |
G0692U109 |
Non-life Insurance |
285,224 |
$28,724,909.04 |
1.40% |
| Jefferies Financial Group Inc. |
JEF |
47233W109 |
Investment Banking and Brokerage Services |
548,207 |
$28,775,385.43 |
1.40% |
| Freedom Holding Corp. |
FRHC |
356390104 |
Investment Banking and Brokerage Services |
208,345 |
$28,070,321.85 |
1.37% |
| Cincinnati Financial Corporation |
CINF |
172062101 |
Non-life Insurance |
172,823 |
$27,900,545.12 |
1.36% |
| OneMain Holdings, Inc. |
OMF |
68268W103 |
Finance and Credit Services |
483,974 |
$27,620,396.18 |
1.35% |
| Berkshire Hathaway Inc. (Class B) |
BRK/B |
084670702 |
Investment Banking and Brokerage Services |
54,353 |
$27,353,690.78 |
1.34% |
| Columbia Banking System, Inc. |
COLB |
197236102 |
Banks |
1,061,562 |
$27,335,221.50 |
1.33% |
| Invesco Ltd. |
IVZ |
G491BT108 |
Investment Banking and Brokerage Services |
1,191,132 |
$26,729,002.08 |
1.30% |
| Lincoln National Corporation |
LNC |
534187109 |
Life Insurance |
677,517 |
$26,673,844.29 |
1.30% |
| Prosperity Bancshares, Inc. |
PB |
743606105 |
Banks |
411,818 |
$26,698,160.94 |
1.30% |
| The Allstate Corporation |
ALL |
020002101 |
Non-life Insurance |
127,292 |
$26,630,759.32 |
1.30% |
| Virtu Financial, Inc. (Class A) |
VIRT |
928254101 |
Investment Banking and Brokerage Services |
769,705 |
$26,447,063.80 |
1.29% |
| Ally Financial Inc. |
ALLY |
02005N100 |
Finance and Credit Services |
697,047 |
$26,285,642.37 |
1.28% |
| TPG Inc. (Class A) |
TPG |
872657101 |
Investment Banking and Brokerage Services |
475,620 |
$26,254,224.00 |
1.28% |
| Truist Financial Corporation |
TFC |
89832Q109 |
Banks |
597,661 |
$26,249,271.12 |
1.28% |
| Janus Henderson Group Plc |
JHG |
G4474Y214 |
Investment Banking and Brokerage Services |
613,892 |
$25,685,241.28 |
1.25% |
| Kemper Corporation |
KMPR |
488401100 |
Non-life Insurance |
695,699 |
$25,372,142.53 |
1.24% |
| SEI Investments Company |
SEIC |
784117103 |
Investment Banking and Brokerage Services |
322,027 |
$25,372,507.33 |
1.24% |
| M&T Bank Corporation |
MTB |
55261F104 |
Banks |
138,267 |
$25,034,623.02 |
1.22% |
| Popular, Inc. |
BPOP |
733174700 |
Banks |
215,139 |
$23,695,409.46 |
1.16% |
| Houlihan Lokey, Inc. |
HLI |
441593100 |
Investment Banking and Brokerage Services |
133,076 |
$23,136,593.36 |
1.13% |
| LPL Financial Holdings Inc. |
LPLA |
50212V100 |
Investment Banking and Brokerage Services |
61,601 |
$22,262,601.40 |
1.09% |
| UWM Holdings Corporation |
UWMC |
91823B109 |
Finance and Credit Services |
4,486,780 |
$21,985,222.00 |
1.07% |
| Affiliated Managers Group, Inc. |
AMG |
008252108 |
Investment Banking and Brokerage Services |
85,943 |
$21,591,459.89 |
1.05% |
| Chubb Limited |
CB |
H1467J104 |
Non-life Insurance |
72,615 |
$21,463,541.70 |
1.05% |
| Coinbase Global, Inc. (Class A) |
COIN |
19260Q107 |
Investment Banking and Brokerage Services |
80,958 |
$21,368,864.10 |
1.04% |
| Loews Corporation |
L |
540424108 |
Non-life Insurance |
204,135 |
$21,272,908.35 |
1.04% |
| Old Republic International Corporation |
ORI |
680223104 |
Non-life Insurance |
482,547 |
$20,985,969.03 |
1.02% |
| The Travelers Companies, Inc. |
TRV |
89417E109 |
Non-life Insurance |
73,406 |
$20,884,741.06 |
1.02% |
| Bank of America Corporation |
BAC |
060505104 |
Banks |
397,226 |
$20,449,194.48 |
1.00% |
| First Citizens BancShares, Inc. (Class A) |
FCNCA |
31946M103 |
Banks |
11,449 |
$20,484,779.78 |
1.00% |
| The Hartford Insurance Group, Inc. |
HIG |
416515104 |
Non-life Insurance |
153,640 |
$20,289,698.40 |
0.99% |
| The Hanover Insurance Group, Inc. |
THG |
410867105 |
Non-life Insurance |
112,825 |
$20,144,903.75 |
0.98% |
| State Street Corporation |
STT |
857477103 |
Investment Banking and Brokerage Services |
176,651 |
$19,933,298.84 |
0.97% |
| F.N.B. Corporation |
FNB |
302520101 |
Banks |
1,272,090 |
$19,564,744.20 |
0.96% |
| U.S. Bancorp |
USB |
902973304 |
Banks |
424,021 |
$19,280,234.87 |
0.94% |
| BOK Financial Corporation |
BOKF |
05561Q201 |
Banks |
183,895 |
$18,970,608.20 |
0.93% |
| Globe Life Inc. |
GL |
37959E102 |
Life Insurance |
143,339 |
$18,839,044.77 |
0.92% |
| Webster Financial Corporation |
WBS |
947890109 |
Banks |
344,780 |
$18,793,957.80 |
0.92% |
| The Progressive Corporation |
PGR |
743315103 |
Non-life Insurance |
82,977 |
$18,698,866.95 |
0.91% |
| Lazard, Inc. (Class A) |
LAZ |
52110M109 |
Investment Banking and Brokerage Services |
388,287 |
$18,497,992.68 |
0.90% |
| Zions Bancorporation, National Association |
ZION |
989701107 |
Banks |
362,208 |
$17,719,215.36 |
0.86% |
| Western Alliance Bancorporation |
WAL |
957638109 |
Banks |
236,327 |
$17,455,112.22 |
0.85% |
| Blackstone Inc. |
BX |
09260D107 |
Investment Banking and Brokerage Services |
119,941 |
$16,602,233.22 |
0.81% |
| Comerica Incorporated |
CMA |
200340107 |
Banks |
199,401 |
$15,104,625.75 |
0.74% |
| CNA Financial Corporation |
CNA |
126117100 |
Non-life Insurance |
294,068 |
$13,465,373.72 |
0.66% |
| FactSet Research Systems Inc. |
FDS |
303075105 |
Finance and Credit Services |
47,684 |
$13,048,726.60 |
0.64% |
| The Charles Schwab Corporation |
SCHW |
808513105 |
Investment Banking and Brokerage Services |
143,096 |
$13,151,953.36 |
0.64% |
| Fidelity National Financial, Inc. |
FNF |
31620R303 |
Non-life Insurance |
225,859 |
$12,912,359.03 |
0.63% |
| First Hawaiian, Inc. |
FHB |
32051X108 |
Banks |
550,230 |
$12,869,879.70 |
0.63% |
| Citizens Financial Group, Inc. |
CFG |
174610105 |
Banks |
257,002 |
$12,775,569.42 |
0.62% |
| East West Bancorp, Inc. |
EWBC |
27579R104 |
Banks |
128,352 |
$12,773,591.04 |
0.62% |
| Fifth Third Bancorp |
FITB |
316773100 |
Banks |
306,661 |
$12,609,900.32 |
0.62% |
| Franklin Resources, Inc. |
BEN |
354613101 |
Investment Banking and Brokerage Services |
590,667 |
$12,734,780.52 |
0.62% |
| Wintrust Financial Corporation |
WTFC |
97650W108 |
Banks |
103,170 |
$12,736,336.50 |
0.62% |
| First Horizon Corporation |
FHN |
320517105 |
Banks |
604,246 |
$12,441,425.14 |
0.61% |
| Primerica, Inc. |
PRI |
74164M108 |
Life Insurance |
49,217 |
$12,552,303.68 |
0.61% |
| Regions Financial Corporation |
RF |
7591EP100 |
Banks |
518,086 |
$12,589,489.80 |
0.61% |
| Credit Acceptance Corporation |
CACC |
225310101 |
Finance and Credit Services |
29,272 |
$12,326,439.20 |
0.60% |
| Morningstar, Inc. |
MORN |
617700109 |
Finance and Credit Services |
58,896 |
$12,215,030.40 |
0.60% |
| Pinnacle Financial Partners, Inc. |
PNFP |
72346Q104 |
Banks |
145,673 |
$12,306,455.04 |
0.60% |
| Huntington Bancshares Incorporated |
HBAN |
446150104 |
Banks |
791,088 |
$12,103,646.40 |
0.59% |
| The PNC Financial Services Group, Inc. |
PNC |
693475105 |
Banks |
67,992 |
$12,173,287.68 |
0.59% |
| SouthState Bank Corporation |
SSB |
84472E102 |
Banks |
138,179 |
$11,788,050.49 |
0.58% |
| Equitable Holdings, Inc. |
EQH |
29452E101 |
Investment Banking and Brokerage Services |
269,037 |
$11,547,068.04 |
0.56% |
| White Mountains Insurance Group Ltd. |
WTM |
G9618E107 |
Non-life Insurance |
4,076 |
$7,744,400.00 |
0.38% |
| Annaly Capital Management, Inc. |
NLY |
035710839 |
Mortgage Real Estate Investment Trusts |
338,003 |
$7,267,064.50 |
0.35% |
| Assurant, Inc. |
AIZ |
04621X108 |
Non-life Insurance |
31,527 |
$7,088,215.41 |
0.35% |
| W.R. Berkley Corporation |
WRB |
084423102 |
Non-life Insurance |
89,159 |
$6,874,158.90 |
0.34% |
| MarketAxess Holdings Inc. |
MKTX |
57060D108 |
Investment Banking and Brokerage Services |
39,207 |
$6,801,042.26 |
0.33% |
| Principal Financial Group, Inc. |
PFG |
74251V102 |
Investment Banking and Brokerage Services |
82,386 |
$6,674,089.86 |
0.33% |
| Wells Fargo & Company |
WFC |
949746101 |
Banks |
81,487 |
$6,797,645.54 |
0.33% |
| American Financial Group, Inc. |
AFG |
025932104 |
Non-life Insurance |
46,871 |
$6,509,913.19 |
0.32% |
| Cullen/Frost Bankers, Inc. |
CFR |
229899109 |
Banks |
53,898 |
$6,462,370.20 |
0.32% |
| First American Financial Corporation |
FAF |
31847R102 |
Non-life Insurance |
106,333 |
$6,595,835.99 |
0.32% |
| Reinsurance Group of America, Incorporated |
RGA |
759351604 |
Non-life Insurance |
35,558 |
$6,546,227.80 |
0.32% |
| RLI Corp. |
RLI |
749607107 |
Non-life Insurance |
104,731 |
$6,616,904.58 |
0.32% |
| XP Inc. (Class A) |
XP |
G98239109 |
Investment Banking and Brokerage Services |
363,555 |
$6,580,345.50 |
0.32% |
| MetLife, Inc. |
MET |
59156R108 |
Life Insurance |
82,921 |
$6,263,023.13 |
0.31% |
| US Dollar |
$USD |
|
Other |
6,309,419 |
$6,309,419.29 |
0.31% |
| Voya Financial, Inc. |
VOYA |
929089100 |
Investment Banking and Brokerage Services |
91,329 |
$6,267,909.27 |
0.31% |
| Everest Group, Ltd. |
EG |
G3223R108 |
Non-life Insurance |
19,503 |
$6,247,395.99 |
0.30% |
| Northern Trust Corporation |
NTRS |
665859104 |
Investment Banking and Brokerage Services |
50,754 |
$6,228,530.88 |
0.30% |
| Starwood Property Trust, Inc. |
STWD |
85571B105 |
Mortgage Real Estate Investment Trusts |
352,668 |
$6,217,536.84 |
0.30% |
| Brookfield Asset Management Ltd. |
BAM |
113004105 |
Investment Banking and Brokerage Services |
119,963 |
$5,927,371.83 |
0.29% |
| Commerce Bancshares, Inc. |
CBSH |
200525103 |
Banks |
114,305 |
$5,868,418.70 |
0.29% |
| The Carlyle Group Inc. |
CG |
14316J108 |
Investment Banking and Brokerage Services |
108,963 |
$5,598,518.94 |
0.27% |
Holdings are subject to change.
The holdings information set forth above for the date indicated reflects creation and redemption transactions from the prior business day and may differ from the holdings information currently available from the Fund's custodian and accounting agent. With respect to the market value of the Fund's holdings set forth above, the pricing sources are generally third party vendors. The Fund ultimately relies on pricing information provided by the Fund's accounting agent.
|
|