NPORT-EX 2 scv3.htm

Huber Small Cap Value Fund
  
Schedule of Investments
  
July 31, 2024 (Unaudited)
  
   
COMMON STOCKS - 98.2%
  
Shares
    
Value
  
Advertising - 0.4%
        
Stagwell, Inc. (a)
    
52,605
    
$
351,402
  
                 
Asset Management - 2.5%
          
Virtus Investment Partners, Inc.
    
8,881
      
2,007,106
  
                 
Automotive - 8.6%
          
Goodyear Tire & Rubber Co. (a)
    
97,200
      
1,137,240
  
Miller Industries, Inc.
    
84,878
      
5,766,611
  
             
6,903,851
  
                 
Banking - 23.3%
          
C&F Financial Corp.
    
39,394
      
2,343,943
  
Carter Bankshares, Inc. (a)
    
139,813
      
2,277,554
  
First Citizens BancShares, Inc. - Class A
    
2,683
      
5,601,272
  
First Horizon Corp.
    
141,679
      
2,370,290
  
First United Corp.
    
78,008
      
2,194,365
  
Northrim BanCorp, Inc.
    
35,129
      
2,402,824
  
Old National Bancorp/IN
    
26,029
      
521,100
  
South State Corp.
    
9,241
      
914,582
  
             
18,625,930
  
                 
Biotech & Pharmaceuticals - 2.6%
          
Cipher Pharmaceuticals, Inc. (a)
    
224,700
      
2,070,173
  
                 
Chemicals - 2.4%
          
Innospec, Inc.
    
14,387
      
1,886,711
  
                 
Commercial Support Services - 1.5%
          
H&R Block, Inc.
    
20,100
      
1,164,594
  
                 
Consumer Services - 4.7%
          
Upbound Group Inc.
    
99,448
      
3,752,173
  
                 
Entertainment Content - 2.3%
          
Lions Gate Entertainment Corp. - Class B (a)
    
226,106
      
1,863,114
  
                 
Food - 2.1%
          
Herbalife Ltd. (a)
    
134,400
      
1,650,432
  
                 
Health Care Facilities & Services - 1.9%
          
Medical Facilities Corp.
    
2,900
      
29,343
  
Select Medical Holdings Corp.
    
16,500
      
656,040
  
Tenet Healthcare Corp. (a)
    
5,801
      
868,410
  
             
1,553,793
  
                 
Home Construction - 0.4%
          
Taylor Morrison Home Corp. (a)
    
5,000
      
335,400
  
                 
Insurance - 3.0%
          
CNO Financial Group, Inc.
    
67,244
      
2,344,126
  
Global Indemnity Group LLC - Class A
    
700
      
21,350
  
             
2,365,476
  
                 
Internet - 1.0%
          
F5 Networks, Inc. (a)
    
4,000
      
814,560
  
                 
Internet Media & Services - 2.3%
          
Lyft, Inc. - Class A (a)
    
152,000
      
1,831,600
  
                 
Leisure Facilities & Services - 1.7%
          
Boston Pizza Royalties Income Fund
    
111,054
      
1,333,629
  
                 
Oil & Gas Producers - 11.5%
          
Golar LNG Ltd.
    
181,238
      
6,325,206
  
Gulfport Energy Corp. (a)
    
800
      
117,768
  
W&T Offshore, Inc.
    
1,136,260
      
2,738,387
  
             
9,181,361
  
                 
Oil & Gas Services & Equipment - 4.6%
          
Kodiak Gas Services, Inc.
    
39,195
      
1,130,776
  
TETRA Technologies, Inc. (a)
    
690,298
      
2,574,811
  
             
3,705,587
  
                 
Packaging & Containers - 0.2%
          
O-I Glass, Inc. (a)
    
10,000
      
133,600
  
                 
Specialty Finance - 3.3%
          
Enova International, Inc. (a)
    
30,702
      
2,654,802
  
                 
Technology Hardware - 4.0%
          
Xperi, Inc. (a)
    
394,259
      
3,221,096
  
                 
Technology Services - 9.4%
          
KBR, Inc.
    
84,475
      
5,625,190
  
Science Applications International Corp.
    
15,110
      
1,879,684
  
             
7,504,874
  
                 
Telecommunications - 1.0%
          
Frontier Communications Parent, Inc. (a)
    
28,000
      
820,400
  
                 
Transportation Equipment - 3.5%
          
Commercial Vehicle Group, Inc. (a)
    
516,378
      
2,814,260
  
TOTAL COMMON STOCKS (Cost $42,815,479)
      
78,545,924
  
                 
REAL ESTATE INVESTMENT TRUSTS - 1.1%
                
Granite Real Estate Investment Trust
    
16,937
      
921,203
  
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $521,812)
      
921,203
  
                 
SHORT-TERM INVESTMENTS - 0.9%
                
Money Market Funds - 0.9%
                
First American Government Obligations Fund - Class X, 5.22% (b)
    
347,389
      
347,389
  
First American Treasury Obligations Fund - Class X, 5.18% (b)
    
347,390
      
347,390
  
TOTAL SHORT-TERM INVESTMENTS (Cost $694,779)
      
694,779
  
                 
TOTAL INVESTMENTS - 100.2% (Cost $44,032,070)
      
80,161,906
  
Liabilities in Excess of Other Assets - (0.2)%
      
(142,834
)
TOTAL NET ASSETS - 100.0%
          
$
80,019,072
  
                 
Percentages are stated as a percent of net assets.
          

(a)
Non-income producing security.
(b)
The rate shown represents the 7-day annualized effective yield as of July 31, 2024.
Summary of Fair Value Disclosure as of July 31, 2024 (Unaudited)
 
Huber Small Cap Value Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
 
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
 
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of July 31, 2024:
 
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
78,545,924
    
$
–
    
$
–
    
$
78,545,924
  
  Real Estate Investment Trusts
    
921,203
      
–
      
–
      
921,203
  
  Money Market Funds
    
694,779
      
–
      
–
      
694,779
  
Total Investments
  
$
80,161,906
    
$
–
    
$
–
    
$
80,161,906
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.