GOTHAM INDEX PLUS FUND

Portfolio of Investments

December 31, 2019

(Unaudited)

	Number
	of Shares		Value
COMMON STOCKS — 95.4%
Automobiles & Components — 0.8%
BorgWarner, Inc.		18,224	$	790,557
Ford Motor Co.		53,617		498,638
General Motors Co.		105,676		3,867,742
Harley-Davidson, Inc.		12,198		453,644
				5,610,581
Banks — 4.7%
Bank of America Corp.(a)		168,254		5,925,906
Citigroup, Inc.		55,734		4,452,589
Fifth Third Bancorp		7,770		238,850
First Republic Bank		4,150		487,418
JPMorgan Chase & Co.(a)		87,897		12,252,842
M&T Bank Corp.		5		849
People’s United Financial, Inc.		3,665		61,938
PNC Financial Services Group, Inc. (The)		10,183		1,625,512
SVB Financial Group*		277		69,538
Truist Financial Corp.		14,989		844,180
US Bancorp(a)		65,339		3,873,949
Wells Fargo & Co.		26,238		1,411,604
				31,245,175
Capital Goods — 14.4%
3M Co.		22,720		4,008,262
A.O. Smith Corp.		1,806		86,038
Allegion PLC (Ireland)		6,146		765,423
AMETEK, Inc.		9,507		948,228
Arconic, Inc.(a)		43,780		1,347,111
Caterpillar, Inc.		16,169		2,387,838
Cummins, Inc.		20,456		3,660,806
Deere & Co.		4,657		806,872
Dover Corp.		4,085		470,837
Eaton Corp. PLC (Ireland)		82,884		7,850,773
Emerson Electric Co.		45,184		3,445,732
Fortive Corp.		341		26,049
Fortune Brands Home & Security, Inc.		4,622		302,001
General Dynamics Corp.		3,174		559,735
Honeywell International, Inc.(a)		51,029		9,032,133
IDEX Corp.		242		41,624
Illinois Tool Works, Inc.		17,654		3,171,188
Ingersoll-Rand PLC (Ireland)		28,945		3,847,369
Johnson Controls International PLC (Ireland)		170,970		6,960,189
L3Harris Technologies, Inc.(a)		22,481		4,448,316
Lockheed Martin Corp.(a)		47,488		18,490,877

	Number
	of Shares		Value
COMMON STOCKS — (Continued)
Capital Goods — (Continued)
Masco Corp.		24,873	$	1,193,655
Northrop Grumman Corp.		12,641		4,348,125
PACCAR, Inc.		1,825		144,358
Parker-Hannifin Corp.		1,490		306,672
Pentair PLC (Ireland)		8,736		400,720
Raytheon Co.		19,556		4,297,236
Rockwell Automation, Inc.		1,064		215,641
Snap-on, Inc.		1		169
Stanley Black & Decker, Inc.		1,747		289,548
TransDigm Group, Inc.		4,639		2,597,840
United Rentals, Inc.*		408		68,042
United Technologies Corp.(a)		50,492		7,561,682
Westinghouse Air Brake Technologies Corp.		16,779		1,305,406
WW Grainger, Inc.		620		209,882
Xylem, Inc.		2,075		163,489
				95,759,866
Commercial & Professional Services — 0.6%
Cintas Corp.		10,034		2,699,949
Equifax, Inc.		907		127,089
IHS Markit Ltd. (Bermuda)*		9		678
Nielsen Holdings PLC (United Kingdom)		4,034		81,890
Verisk Analytics, Inc.		3,854		575,556
Waste Management, Inc.		6,826		777,891
				4,263,053
Consumer Durables & Apparel — 0.6%
Garmin Ltd. (Switzerland)		4,396		428,874
Hanesbrands, Inc.		31,630		469,706
Leggett & Platt, Inc.		11,522		585,663
Lennar Corp., Class A		3,210		179,086
Mohawk Industries, Inc.*		3,922		534,882
Newell Brands, Inc.		36,645		704,317
PVH Corp.		2,482		260,982
Whirlpool Corp.		4,771		703,866
				3,867,376
Consumer Services — 1.4%
H&R Block, Inc.		2,255		52,947
Hilton Worldwide Holdings, Inc.		16,348		1,813,157
Marriott International, Inc., Class A		3,777		571,951
McDonald’s Corp.		5,853		1,156,611
MGM Resorts International		29,456		980,001

1

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

	Number
	of Shares		Value
COMMON STOCKS — (Continued)
Consumer Services — (Continued)
Norwegian Cruise Line Holdings Ltd. (Bermuda)*		18,625	$	1,087,886
Starbucks Corp.		29,421		2,586,694
Yum! Brands, Inc.		6,998		704,909
				8,954,156
Diversified Financials — 5.9%
American Express Co.(a)		50,257		6,256,494
Ameriprise Financial, Inc.		252		41,978
Bank of New York Mellon Corp. (The)		9,957		501,136
Berkshire Hathaway, Inc., Class B*		4,893		1,108,264
BlackRock, Inc.		1,466		736,958
Capital One Financial Corp.		6,102		627,957
Discover Financial Services		69,252		5,873,955
Goldman Sachs Group, Inc. (The)(a)		8,572		1,970,960
Intercontinental Exchange, Inc.(a)		13,587		1,257,477
MarketAxess Holdings, Inc.		920		348,781
Moody’s Corp.(a)		23,324		5,537,351
MSCI, Inc.		1,348		348,027
Nasdaq, Inc.		4,837		518,043
Northern Trust Corp.		2,402		255,188
Raymond James Financial, Inc.		1,583		141,615
S&P Global, Inc.(a)		32,906		8,984,983
Synchrony Financial		26,586		957,362
T Rowe Price Group, Inc.		29,940		3,647,890
				39,114,419
Energy — 3.0%
Apache Corp.		27,309		698,837
Chevron Corp.(a)		85,352		10,285,770
ConocoPhillips		8,227		535,002
Halliburton Co.		867		21,215
Hess Corp.		262		17,504
Kinder Morgan, Inc.(a)		10,354		219,194
Marathon Petroleum Corp.		44,162		2,660,760
Phillips 66		32,921		3,667,729
TechnipFMC PLC (United Kingdom)		35,780		767,123
Valero Energy Corp.		12,393		1,160,604
				20,033,738
Food & Staples Retailing — 1.0%
Costco Wholesale Corp.		6,776		1,991,602
Kroger Co. (The)		202		5,856
Sysco Corp.(a)		7,131		609,986
Walmart, Inc.(a)		34,058		4,047,453
				6,654,897

	Number
	of Shares		Value
COMMON STOCKS — (Continued)
Food, Beverage & Tobacco — 7.6%
Altria Group, Inc.		56,797	$	2,834,738
Archer-Daniels-Midland Co.		12,097		560,696
Campbell Soup Co.		25,893		1,279,632
Coca-Cola Co. (The)(a)		134,930		7,468,376
Conagra Brands, Inc.		11,839		405,367
Constellation Brands, Inc., Class A		495		93,926
General Mills, Inc.(a)		117,137		6,273,858
Hershey Co. (The)		45,584		6,699,936
JM Smucker Co. (The)		1,074		111,836
Kellogg Co.		21,974		1,519,722
Kraft Heinz Co. (The)		8,618		276,896
Lamb Weston Holdings, Inc.		22		1,893
McCormick & Co., Inc., non-voting shares		15,091		2,561,395
Molson Coors Beverage Co., Class B		18,553		1,000,007
Mondelez International, Inc., Class A(a)		153,752		8,468,660
Monster Beverage Corp.*		6,450		409,898
PepsiCo, Inc.		29,439		4,023,428
Philip Morris International, Inc.(a)		75,615		6,434,080
Tyson Foods, Inc., Class A		4,700		427,888
				50,852,232
Health Care Equipment & Services — 5.0%
AmerisourceBergen Corp.(a)		9,020		766,880
Anthem, Inc.(a)		2,840		857,765
Cigna Corp.		230		47,033
CVS Health Corp.(a)		124,489		9,248,288
Danaher Corp.		6,005		921,647
HCA Healthcare, Inc.		3,691		545,567
Henry Schein, Inc.*		10,682		712,703
Humana, Inc.		19,777		7,248,666
Laboratory Corp. of America Holdings*		2,104		355,934
McKesson Corp.		12,824		1,773,816
Medtronic PLC (Ireland)		37,895		4,299,188
Quest Diagnostics, Inc.		10,448		1,115,742
UnitedHealth Group, Inc.(a)		12,933		3,802,043
Universal Health Services, Inc., Class B		4,802		688,895
WellCare Health Plans, Inc.*		3,309		1,092,665
				33,476,832
Household & Personal Products — 1.8%
Church & Dwight Co., Inc.		2,554		179,648

2

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

	Number
	of Shares		Value
COMMON STOCKS — (Continued)
Household & Personal Products — (Continued)
Clorox Co. (The)		1,369	$	210,196
Colgate-Palmolive Co.		26,752		1,841,608
Kimberly-Clark Corp.		10,694		1,470,960
Procter & Gamble Co. (The)(a)		65,712		8,207,429
				11,909,841
Insurance — 3.9%
Aflac, Inc.		11,619		614,645
Allstate Corp. (The)		10,965		1,233,014
American International Group, Inc.(a)		20,119		1,032,708
Aon PLC (United Kingdom)		5,430		1,131,015
Arthur J Gallagher & Co.		3		286
Assurant, Inc.		5,385		705,866
Chubb Ltd. (Switzerland)		10,526		1,638,477
Cincinnati Financial Corp.		35,015		3,681,827
Everest Re Group Ltd. (Bermuda)		7		1,938
Globe Life, Inc.		7,676		807,899
Hartford Financial Services Group, Inc. (The)		32,367		1,966,943
Lincoln National Corp.		1,739		102,618
Loews Corp.		6,329		332,209
Marsh & McLennan Cos., Inc.(a)		69,950		7,793,130
MetLife, Inc.		10,559		538,192
Principal Financial Group, Inc.		5,893		324,115
Progressive Corp. (The)(a)		11,994		868,246
Travelers Cos., Inc. (The)(a)		20,257		2,774,196
WR Berkley Corp.		3,455		238,740
				25,786,064
Materials — 3.8%
Air Products & Chemicals, Inc.		485		113,970
Amcor PLC (Jersey)		1,074		11,642
Avery Dennison Corp.(a)		11,618		1,519,867
Ball Corp.		33,818		2,187,010
Celanese Corp.		1,355		166,828
CF Industries Holdings, Inc.		19,093		911,500
Dow, Inc.		4,447		243,384
DuPont de Nemours, Inc.		23,684		1,520,513
Eastman Chemical Co.		10,703		848,320
Ecolab, Inc.		3,137		605,410
FMC Corp.		5,447		543,720
International Flavors & Fragrances, Inc.		2,155		278,038
International Paper Co.		14,101		649,351

	Number
	of Shares		Value
COMMON STOCKS — (Continued)
Materials — (Continued)
Linde PLC (Ireland)		27,601	$	5,876,253
LyondellBasell Industries NV, Class A (Netherlands)		25,009		2,362,850
Martin Marietta Materials, Inc.		706		197,426
Mosaic Co. (The)		33,272		720,006
Nucor Corp.		44		2,476
Packaging Corp. of America		13,434		1,504,474
PPG Industries, Inc.		20,700		2,763,243
Sherwin-Williams Co. (The)		3,985		2,325,407
				25,351,688
Media & Entertainment — 5.5%
Activision Blizzard, Inc.		20,494		1,217,753
Alphabet, Inc., Class A(a)*		8,203		10,987,016
Charter Communications, Inc., Class A*		2,883		1,398,486
Comcast Corp., Class A		133,036		5,982,629
Discovery, Inc., Class A*		3,657		119,730
DISH Network Corp., Class A*		17,166		608,878
Facebook, Inc., Class A(a)*		70,412		14,452,063
Interpublic Group of Cos., Inc. (The)		11,217		259,113
Omnicom Group, Inc.		5,258		426,003
ViacomCBS, Inc., Class B		5,351		224,581
Walt Disney Co. (The)		7,854		1,135,924
				36,812,176
Pharmaceuticals, Biotechnology & Life Sciences — 4.4%
Alexion Pharmaceuticals, Inc.*		1,438		155,520
Amgen, Inc.(a)		17,979		4,334,198
Bristol-Myers Squibb Co.(a)		11,220		720,212
Gilead Sciences, Inc.		6,006		390,270
Johnson & Johnson		2,874		419,230
Merck & Co., Inc.(a)		188,568		17,150,260
Mylan NV (Netherlands)*		45,188		908,279
Pfizer, Inc.		131,434		5,149,584
				29,227,553
Real Estate — 2.1%
Alexandria Real Estate Equities, Inc., REIT		780		126,032
Apartment Investment & Management Co., Class A, REIT		2,203		113,785
AvalonBay Communities, Inc., REIT		3,241		679,638
Boston Properties, Inc., REIT		50		6,893
CBRE Group, Inc., Class A*		29,369		1,800,026

3

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

	Number
	of Shares		Value
COMMON STOCKS — (Continued)
Real Estate — (Continued)
Duke Realty Corp., REIT		8,495	$	294,522
Equity Residential, REIT		6,590		533,263
Essex Property Trust, Inc., REIT		849		255,430
Extra Space Storage, Inc., REIT		2,947		311,262
Federal Realty Investment Trust, REIT		11		1,416
Healthpeak Properties, Inc., REIT		5,610		193,377
Kimco Realty Corp., REIT		1,720		35,621
Mid-America Apartment Communities, Inc., REIT		10,762		1,419,077
Prologis, Inc., REIT(a)		67,046		5,976,481
Public Storage, REIT		1,916		408,031
Realty Income Corp., REIT		7,558		556,496
UDR, Inc., REIT		10,319		481,897
Welltower, Inc., REIT(a)		6,974		570,334
				13,763,581
Retailing — 8.2%
Advance Auto Parts, Inc.		11		1,762
Amazon.com, Inc.(a)*		5,364		9,911,814
AutoZone, Inc.(a)*		1,773		2,112,193
Best Buy Co., Inc.		13,277		1,165,721
Booking Holdings, Inc.*		1,407		2,889,598
Dollar General Corp.(a)		35,748		5,575,973
eBay, Inc.		180,065		6,502,147
Gap, Inc. (The)		32,086		567,280
Genuine Parts Co.		3,573		379,560
Home Depot, Inc. (The)(a)		84,588		18,472,328
Kohl’s Corp.		12,431		633,359
Lowe’s Cos., Inc.(a)		21,623		2,589,570
Ross Stores, Inc.(a)		15,272		1,777,966
Target Corp.		3,437		440,658
TJX Cos., Inc. (The)(a)		27,885		1,702,658
Tractor Supply Co.		1,732		161,838
				54,884,425
Semiconductors & Semiconductor Equipment — 1.9%
Applied Materials, Inc.(a)		116,267		7,096,938
Intel Corp.		1,365		81,695
KLA Corp.		13,842		2,466,229
Lam Research Corp.		3,473		1,015,505
Qorvo, Inc.*		3,773		438,536
Texas Instruments, Inc.		11,184		1,434,795
				12,533,698

	Number
	of Shares		Value
COMMON STOCKS — (Continued)
Software & Services — 10.8%
Accenture PLC, Class A (Ireland)		87,229	$	18,367,811
Automatic Data Processing, Inc.(a)		4,157		708,768
Broadridge Financial Solutions, Inc.(a)		2,660		328,616
Cognizant Technology Solutions Corp., Class A		572		35,475
FleetCor Technologies, Inc.*		12,721		3,660,086
Global Payments, Inc.		2,577		470,457
International Business Machines Corp.(a)		29,539		3,959,408
Jack Henry & Associates, Inc.		800		116,536
Mastercard, Inc., Class A		24,683		7,370,097
Microsoft Corp.(a)		169,880		26,790,076
Oracle Corp.		36,256		1,920,843
Paychex, Inc.		8,723		741,978
Visa, Inc., Class A(a)		25,772		4,842,559
Western Union Co. (The)		92,319		2,472,303
				71,785,013
Technology Hardware & Equipment — 3.2%
Amphenol Corp., Class A		6,106		660,852
Apple, Inc.(a)		30,884		9,069,087
Arista Networks, Inc.*		5,648		1,148,803
Cisco Systems, Inc.		41,499		1,990,292
F5 Networks, Inc.*		4,754		663,896
FLIR Systems, Inc.		2,825		147,098
Hewlett Packard Enterprise Co.		30,032		476,308
Juniper Networks, Inc.		1,745		42,979
Keysight Technologies, Inc.*		2,469		253,393
Motorola Solutions, Inc.(a)		3,978		641,015
NetApp, Inc.		854		53,162
Seagate Technology PLC (Ireland)		2,565		152,618
TE Connectivity Ltd. (Switzerland)		54,005		5,175,839
Xerox Holdings Corp.		9,377		345,730
Zebra Technologies Corp., Class A*		621		158,628
				20,979,700
Telecommunication Services — 3.1%
AT&T, Inc.(a)		436,891		17,073,700
CenturyLink, Inc.		27		357
T-Mobile US, Inc.*		7,901		619,596
Verizon Communications, Inc.(a)		51,755		3,177,757
				20,871,410
Transportation — 1.2%
American Airlines Group, Inc.		24,180		693,482

4

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

	Number
	of Shares		Value
COMMON STOCKS — (Continued)
Transportation — (Continued)
CH Robinson Worldwide, Inc.		1,828	$	142,950
CSX Corp.		16,906		1,223,318
Delta Air Lines, Inc.		41,208		2,409,844
Expeditors International of Washington, Inc.		6		468
JB Hunt Transport Services, Inc.		1,142		133,363
Kansas City Southern		3,425		524,573
Norfolk Southern Corp.(a)		6,048		1,174,098
Southwest Airlines Co.		4,264		230,171
Union Pacific Corp.		23		4,158
United Airlines Holdings, Inc.*		12,450		1,096,720
United Parcel Service, Inc., Class B		4,925		576,520
				8,209,665
Utilities — 0.5%
AES Corp.		1,347		26,805
Evergy, Inc.		2,429		158,104
Southern Co. (The)		45,102		2,872,997
				3,057,906
TOTAL COMMON STOCKS (Cost $532,752,623)				635,005,045
OTHER ASSETS IN EXCESS OF LIABILITIES - 4.6%				30,854,862
NET ASSETS - 100.0%			$	665,859,907

^(a)  Security position is either entirely or partially designated as collateral for total return swaps.

* Non-income producing.

PLC Public Limited Company

REIT Real Estate Investment Trust

5

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

Over-the-counter total return swaps outstanding as of December 31, 2019.

The Fund maintains a portfolio of long and short positions and receives/pays a rebate based upon the Fed Funds 1-Day Rate less a specified spread as negotiated by the parties. The notional gain or loss, dividends payable and rebates are payable the earlier of maturity of the swaps or upon termination. The portfolio matures on July 29, 2024, however underlying individual contracts are entered into and closed (terminated) on a daily basis. The cash amounts payable/receivable due to individual contracts being closed are settled, on a net basis, once a week. The value of total return swaps represents 3.6% of net assets.

The following table represents the individual long and short positions and related values of total return swaps as of December 31, 2019:

Total Return Swaps

		Number of								Unrealized
		Contracts		Notional						Appreciation/
Reference Entity	Counterparty	Long/(Short)		Amount			Value			(Depreciation)*
Long
Automobiles & Components
BorgWarner, Inc.	Morgan Stanley		18,294		$	753,036		$	793,594		$	47,626
Ford Motor Co.	Morgan Stanley		38,406			341,958			357,176			22,522
General Motors Co.	Morgan Stanley		83,493			3,051,796			3,055,844			38,518
Harley-Davidson, Inc.	Morgan Stanley		15,029			572,496			558,929			(5,236	)
			155,222			4,719,286			4,765,543			103,430
Banks
Bank of America Corp.	Morgan Stanley		42,466			1,409,203			1,495,652			100,562
Citigroup, Inc.	Morgan Stanley		1			67			80			32
Fifth Third Bancorp	Morgan Stanley		8,908			271,154			273,832			6,102
First Republic Bank	Morgan Stanley		1			93			117			43
JPMorgan Chase & Co.	Morgan Stanley		16,235			2,154,614			2,263,159			118,637
M&T Bank Corp.	Morgan Stanley		1,342			200,530			227,805			42,813
People’s United Financial, Inc.	Morgan Stanley		5,447			88,818			92,054			4,620
PNC Financial Services Group, Inc. (The)	Morgan Stanley		6			964			958			15
SVB Financial Group	Morgan Stanley		919			195,027			230,706			36,609
Truist Financial Corp.	Morgan Stanley		2,797			147,162			157,527			11,071
US Bancorp	Morgan Stanley		30,124			1,785,320			1,786,052			21,182
Wells Fargo & Co.	Morgan Stanley		26,041			1,397,316			1,401,006			10,126
			134,287			7,650,268			7,928,948			351,812
Capital Goods
3M Co.	Morgan Stanley		42,674			6,915,365			7,528,547			745,115
A.O. Smith Corp.	Morgan Stanley		1,979			92,663			94,280			2,068
Allegion PLC (Ireland)	Morgan Stanley		10,304			1,196,679			1,283,260			94,976
AMETEK, Inc.	Morgan Stanley		31,096			2,906,613			3,101,515			213,477
Arconic, Inc.	Morgan Stanley		32,392			992,350			996,702			9,010
Caterpillar, Inc.	Morgan Stanley		21,896			2,786,920			3,233,601			474,015
Cummins, Inc.	Morgan Stanley		13,160			1,949,391			2,355,114			449,361
Deere & Co.	Morgan Stanley		2,611			449,918			452,382			6,570
Dover Corp.	Morgan Stanley		22,076			2,253,433			2,544,480			312,418
Emerson Electric Co.	Morgan Stanley		63,596			4,262,142			4,849,831			647,758
Fortive Corp.	Morgan Stanley		7,855			547,346			600,043			56,355
Fortune Brands Home & Security, Inc.	Morgan Stanley		19,987			1,220,827			1,305,950			95,246
General Dynamics Corp.	Morgan Stanley		3,541			627,847			624,455			(442	)

6

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

Total Return Swaps (continued)

		Number of								Unrealized
		Contracts		Notional						Appreciation/
Reference Entity	Counterparty	Long/(Short)		Amount			Value			(Depreciation)*
Capital Goods — (continued)
Honeywell International, Inc.	Morgan Stanley		56,540		$	9,423,421		$	10,007,580		$	694,981
IDEX Corp.	Morgan Stanley		1,523			248,116			261,956			15,757
Illinois Tool Works, Inc.	Morgan Stanley		6,576			1,129,623			1,181,247			63,959
Ingersoll-Rand PLC (Ireland)	Morgan Stanley		13,428			1,711,332			1,784,850			88,653
Jacobs Engineering Group, Inc.	Morgan Stanley		26,545			2,211,043			2,384,537			188,362
Masco Corp.	Morgan Stanley		25,370			1,168,032			1,217,506			54,954
Northrop Grumman Corp.	Morgan Stanley		14,974			5,207,256			5,150,607			(17,791	)
PACCAR, Inc.	Morgan Stanley		6,206			428,745			490,895			81,734
Parker-Hannifin Corp.	Morgan Stanley		1,669			269,544			343,514			78,186
Pentair PLC (Ireland)	Morgan Stanley		20,993			875,309			962,949			91,750
Raytheon Co.	Morgan Stanley		20,080			4,291,459			4,412,379			141,002
Rockwell Automation, Inc.	Morgan Stanley		1,622			320,321			328,731			9,925
Snap-on, Inc.	Morgan Stanley		1,272			187,798			215,477			31,157
Stanley Black & Decker, Inc.	Morgan Stanley		1,774			268,215			294,023			28,303
TransDigm Group, Inc.	Morgan Stanley		4,733			2,686,589			2,650,480			130,292
United Rentals, Inc.	Morgan Stanley		12,007			1,383,800			2,002,407			625,096
United Technologies Corp.	Morgan Stanley		83,607			11,410,004			12,520,984			1,242,086
Westinghouse Air Brake Technologies Corp.	Morgan Stanley		17,118			1,326,010			1,331,780			14,042
WW Grainger, Inc.	Morgan Stanley		630			212,204			213,268			2,075
Xylem, Inc.	Morgan Stanley		2,105			161,306			165,853			5,319
			591,939			71,121,621			76,891,183			6,675,769
Commercial & Professional Services
Cintas Corp.	Morgan Stanley		6,966			1,880,060			1,874,411			3,159
Equifax, Inc.	Morgan Stanley		1,904			256,943			266,788			11,618
IHS Markit Ltd. (Bermuda)	Morgan Stanley		9,253			591,441			697,214			108,556
Nielsen Holdings PLC (United Kingdom)	Morgan Stanley		4,223			87,143			85,727			(741	)
Robert Half International, Inc.	Morgan Stanley		25,525			1,484,024			1,611,904			150,664
Verisk Analytics, Inc.	Morgan Stanley		47			6,580			7,019			499
Waste Management, Inc.	Morgan Stanley		3,019			345,726			344,045			1,480
			50,937			4,651,917			4,887,108			275,235
Consumer Durables & Apparel
Garmin Ltd. (Switzerland)	Morgan Stanley		17			1,645			1,659			47
Hanesbrands, Inc.	Morgan Stanley		32,321			507,452			479,967			(20,283	)
Leggett & Platt, Inc.	Morgan Stanley		11,752			604,043			597,354			855
Lennar Corp., Class A	Morgan Stanley		4,162			199,700			232,198			33,614
Mohawk Industries, Inc.	Morgan Stanley		8,784			1,218,171			1,197,962			(14,496	)
Newell Brands, Inc.	Morgan Stanley		37,378			756,922			718,405			(26,362	)
PVH Corp.	Morgan Stanley		10,503			965,483			1,104,390			144,037
Whirlpool Corp.	Morgan Stanley		6,371			981,603			939,914			(27,608	)
			111,288			5,235,019			5,271,849			89,804

7

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

Total Return Swaps (continued)

		Number of								Unrealized
		Contracts		Notional						Appreciation/
Reference Entity	Counterparty	Long/(Short)		Amount			Value			(Depreciation)*
Consumer Services
H&R Block, Inc.	Morgan Stanley		2,277		$	60,868		$	53,464		$	(5,979	)
Hilton Worldwide Holdings, Inc.	Morgan Stanley		2,667			296,667			295,797			535
Marriott International, Inc., Class A	Morgan Stanley		3,810			508,381			576,948			72,775
McDonald’s Corp.	Morgan Stanley		17,472			3,692,718			3,452,642			(191,267	)
MGM Resorts International	Morgan Stanley		28,026			881,038			932,425			67,237
Norwegian Cruise Line Holdings Ltd. (Bermuda)	Morgan Stanley		19,001			984,438			1,109,848			130,031
Starbucks Corp.	Morgan Stanley		1			83			88			24
Yum! Brands, Inc.	Morgan Stanley		34			3,378			3,425			79
			73,288			6,427,571			6,424,637			73,435
Diversified Financials
American Express Co.	Morgan Stanley		17,791			2,105,434			2,214,801			119,230
Ameriprise Financial, Inc.	Morgan Stanley		2,828			385,853			471,088			89,178
Bank of New York Mellon Corp. (The)	Morgan Stanley		4,126			207,096			207,662			1,553
Berkshire Hathaway, Inc., Class B	Morgan Stanley		68,611			13,645,112			15,540,392			1,959,092
BlackRock, Inc.	Morgan Stanley		27,304			11,385,637			13,725,721			2,566,559
Capital One Financial Corp.	Morgan Stanley		4,707			430,500			484,397			57,812
Franklin Resources, Inc.	Morgan Stanley		101,405			3,018,026			2,634,502			(315,651	)
Invesco Ltd. (Bermuda)	Morgan Stanley		86,666			1,654,020			1,558,255			(34,282	)
MarketAxess Holdings, Inc.	Morgan Stanley		4			1,308			1,516			234
Moody’s Corp.	Morgan Stanley		10,056			2,151,099			2,387,395			252,029
MSCI, Inc.	Morgan Stanley		618			130,500			159,555			30,496
Nasdaq, Inc.	Morgan Stanley		27,335			2,624,925			2,927,579			340,639
Northern Trust Corp.	Morgan Stanley		2,516			266,675			267,300			3,648
Raymond James Financial, Inc.	Morgan Stanley		1,617			141,945			144,657			3,992
S&P Global, Inc.	Morgan Stanley		143			34,699			39,046			5,784
Synchrony Financial	Morgan Stanley		6,782			250,168			244,220			(11,269	)
T Rowe Price Group, Inc.	Morgan Stanley		21,661			2,339,222			2,639,176			343,833
			384,170			40,772,219			45,647,262			5,412,877
Energy
Apache Corp.	Morgan Stanley		35,060			761,310			897,185			139,453
Chevron Corp.	Morgan Stanley		43,728			5,098,798			5,269,661			266,185
ConocoPhillips	Morgan Stanley		104,400			5,640,246			6,789,132			1,217,000
Devon Energy Corp.	Morgan Stanley		85,020			2,168,904			2,207,969			64,530
Halliburton Co.	Morgan Stanley		19,464			391,894			476,284			89,433
Helmerich & Payne, Inc.	Morgan Stanley		22,011			974,180			999,960			61,608
HollyFrontier Corp.	Morgan Stanley		35,587			1,764,403			1,804,617			72,684
Marathon Petroleum Corp.	Morgan Stanley		70,789			4,144,925			4,265,037			190,667
Phillips 66	Morgan Stanley		45,251			5,356,059			5,041,414			(252,283	)
TechnipFMC PLC (United Kingdom)	Morgan Stanley		43,288			1,024,997			928,095			(82,907	)
			504,598			27,325,716			28,679,354			1,766,370

8

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

Total Return Swaps (continued)

		Number of								Unrealized
		Contracts		Notional						Appreciation/
Reference Entity	Counterparty	Long/(Short)		Amount			Value			(Depreciation)*
Food & Staples Retailing
Costco Wholesale Corp.	Morgan Stanley		2,554		$	752,855		$	750,672		$	866
Kroger Co. (The)	Morgan Stanley		20,701			443,620			600,122			165,219
Sysco Corp.	Morgan Stanley		97,732			6,854,256			8,359,995			1,575,919
Walgreens Boots Alliance, Inc.	Morgan Stanley		196,860			10,850,923			11,606,866			986,849
Walmart, Inc.	Morgan Stanley		125,643			13,222,203			14,931,414			1,842,530
			443,490			32,123,857			36,249,069			4,571,383
Food, Beverage & Tobacco
Altria Group, Inc.	Morgan Stanley		148,464			6,875,660			7,409,838			807,468
Archer-Daniels-Midland Co.	Morgan Stanley		86,353			3,732,930			4,002,461			317,226
Campbell Soup Co.	Morgan Stanley		8,804			424,417			435,094			12,680
Coca-Cola Co. (The)	Morgan Stanley		80,132			4,242,689			4,435,306			256,639
Constellation Brands, Inc., Class A	Morgan Stanley		3,868			722,465			733,953			17,406
JM Smucker Co. (The)	Morgan Stanley		1,573			170,581			163,796			(4,713	)
Kellogg Co.	Morgan Stanley		7,013			468,096			485,019			19,709
Kraft Heinz Co. (The)	Morgan Stanley		191,534			6,083,069			6,153,987			251,900
Lamb Weston Holdings, Inc.	Morgan Stanley		3,367			259,151			289,663			32,413
Molson Coors Beverage Co., Class B	Morgan Stanley		19,700			1,042,764			1,061,830			36,933
Mondelez International, Inc., Class A	Morgan Stanley		19,455			1,032,982			1,071,581			47,942
Monster Beverage Corp.	Morgan Stanley		5,955			364,256			378,440			15,906
PepsiCo, Inc.	Morgan Stanley		66,121			8,578,936			9,036,757			594,644
Philip Morris International, Inc.	Morgan Stanley		55,551			4,443,945			4,726,835			367,231
Tyson Foods, Inc., Class A	Morgan Stanley		3,772			329,926			343,403			16,613
			701,662			38,771,867			40,727,963			2,789,997
Health Care Equipment & Services
Anthem, Inc.	Morgan Stanley		3,355			803,290			1,013,311			216,478
Centene Corp.	Morgan Stanley		89,522			4,343,607			5,628,248			1,304,966
Cigna Corp.	Morgan Stanley		8,833			1,441,537			1,806,260			371,481
CVS Health Corp.	Morgan Stanley		159,692			8,981,475			11,863,519			3,003,898
Danaher Corp.	Morgan Stanley		10,664			1,474,626			1,636,711			172,538
DaVita, Inc.	Morgan Stanley		29,436			1,733,884			2,208,583			482,824
HCA Healthcare, Inc.	Morgan Stanley		4,202			569,794			621,098			55,667
Laboratory Corp. of America Holdings	Morgan Stanley		166			27,625			28,082			605
Quest Diagnostics, Inc.	Morgan Stanley		13,427			1,346,249			1,433,869			98,405
UnitedHealth Group, Inc.	Morgan Stanley		9,285			2,015,275			2,729,604			733,797
Universal Health Services, Inc., Class B	Morgan Stanley		9,554			1,402,558			1,370,617			(23,555	)
WellCare Health Plans, Inc.	Morgan Stanley		3,292			1,000,786			1,087,051			93,232
			341,428			25,140,706			31,426,953			6,510,336
Household & Personal Products
Church & Dwight Co., Inc.	Morgan Stanley		3,139			216,820			220,797			5,223
Clorox Co. (The)	Morgan Stanley		1,543			226,601			236,912			11,389
Colgate-Palmolive Co.	Morgan Stanley		68,599			4,707,338			4,722,355			62,734
Kimberly-Clark Corp.	Morgan Stanley		7,204			962,635			990,910			36,598
Procter & Gamble Co. (The)	Morgan Stanley		19,637			2,374,568			2,452,661			94,479
			100,122			8,487,962			8,623,635			210,423

9

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

Total Return Swaps (continued)

		Number of								Unrealized
		Contracts		Notional						Appreciation/
Reference Entity	Counterparty	Long/(Short)		Amount			Value			(Depreciation)*
Insurance
Aflac, Inc.	Morgan Stanley		5,442		$	279,516		$	287,882		$	12,624
American International Group, Inc.	Morgan Stanley		72			3,704			3,696			47
Aon PLC (United Kingdom)	Morgan Stanley		3			622			625			24
Assurant, Inc.	Morgan Stanley		6,086			686,002			797,753			122,008
Everest Re Group Ltd. (Bermuda)	Morgan Stanley		939			227,294			259,953			35,867
Globe Life, Inc.	Morgan Stanley		11,085			1,075,359			1,166,696			96,845
Hartford Financial Services Group, Inc. (The)	Morgan Stanley		31,473			1,861,124			1,912,614			70,379
Lincoln National Corp.	Morgan Stanley		2,864			167,538			169,005			2,268
Loews Corp.	Morgan Stanley		615			29,912			32,281			2,564
Marsh & McLennan Cos., Inc.	Morgan Stanley		19,359			1,998,771			2,156,786			167,378
MetLife, Inc.	Morgan Stanley		10,784			516,300			549,660			35,790
Principal Financial Group, Inc.	Morgan Stanley		552			30,078			30,360			441
Progressive Corp. (The)	Morgan Stanley		3,314			231,897			239,900			9,106
Travelers Cos., Inc. (The)	Morgan Stanley		14,698			1,998,719			2,012,891			33,113
WR Berkley Corp.	Morgan Stanley		2,140			148,548			147,874			(368	)
			109,426			9,255,384			9,767,976			588,086
Materials
Air Products & Chemicals, Inc.	Morgan Stanley		4,631			1,075,406			1,088,239			23,251
Amcor PLC (Jersey)	Morgan Stanley		36,502			393,983			395,682			11,896
Avery Dennison Corp.	Morgan Stanley		3,164			404,858			413,914			12,802
Ball Corp.	Morgan Stanley		24,400			1,650,502			1,577,948			(61,159	)
Celanese Corp.	Morgan Stanley		20,147			2,424,940			2,480,499			76,562
CF Industries Holdings, Inc.	Morgan Stanley		5,033			237,839			240,275			5,528
Dow, Inc.	Morgan Stanley		638			34,702			34,918			397
DuPont de Nemours, Inc.	Morgan Stanley		109,427			7,865,877			7,025,213			(743,853	)
Eastman Chemical Co.	Morgan Stanley		7,234			572,014			573,367			7,906
Ecolab, Inc.	Morgan Stanley		3,553			681,913			685,693			8,659
FMC Corp.	Morgan Stanley		18,314			1,611,650			1,828,103			239,390
International Flavors & Fragrances, Inc.	Morgan Stanley		323			45,062			41,673			(2,916	)
International Paper Co.	Morgan Stanley		53,877			2,199,707			2,481,036			338,138
Linde PLC (Ireland)	Morgan Stanley		25,663			4,834,578			5,463,653			695,207
LyondellBasell Industries NV, Class A (Netherlands)	Morgan Stanley		24,200			2,324,539			2,286,416			(5,280	)
Martin Marietta Materials, Inc.	Morgan Stanley		745			197,384			208,332			12,299
Mosaic Co. (The)	Morgan Stanley		33,939			709,802			734,440			29,672
Nucor Corp.	Morgan Stanley		7,332			369,010			412,645			51,235
Packaging Corp. of America	Morgan Stanley		7,163			713,291			802,184			103,564
PPG Industries, Inc.	Morgan Stanley		21,119			2,630,396			2,819,175			211,786
Sherwin-Williams Co. (The)	Morgan Stanley		4,398			2,531,345			2,566,409			48,985
Westrock Co.	Morgan Stanley		49,820			1,679,764			2,137,776			494,169
			461,622			35,188,562			36,297,590			1,558,238
Media & Entertainment
Alphabet, Inc., Class A	Morgan Stanley		7,832			9,211,373			10,490,102			1,321,813
Charter Communications, Inc., Class A	Morgan Stanley		22,429			9,281,504			10,879,859			1,642,244
Comcast Corp., Class A	Morgan Stanley		296,778			12,602,748			13,346,107			852,271

10

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

Total Return Swaps (continued)

		Number of								Unrealized
		Contracts		Notional						Appreciation/
Reference Entity	Counterparty	Long/(Short)		Amount			Value			(Depreciation)*
Media & Entertainment — (continued)
Discovery, Inc., Class A	Morgan Stanley		12,822		$	385,385		$	419,792		$	36,228
Facebook, Inc., Class A	Morgan Stanley		1			179			205			46
Fox Corp., Class A	Morgan Stanley		133,153			4,994,569			4,935,982			(4,593	)
Interpublic Group of Cos., Inc. (The)	Morgan Stanley		57,170			1,217,451			1,320,627			124,377
Omnicom Group, Inc.	Morgan Stanley		39,611			3,100,299			3,209,283			174,992
ViacomCBS, Inc., Class B	Morgan Stanley		3,306			144,164			138,753			(3,931	)
Walt Disney Co. (The)	Morgan Stanley		33,481			4,538,013			4,842,357			355,049
			606,583			45,475,685			49,583,067			4,498,496
Pharmaceuticals, Biotechnology & Life Sciences
Alexion Pharmaceuticals, Inc.	Morgan Stanley		37,698			3,871,314			4,077,039			223,842
Amgen, Inc.	Morgan Stanley		22,806			4,667,504			5,497,842			893,868
Biogen, Inc.	Morgan Stanley		39,992			9,482,251			11,866,826			2,428,925
Bristol-Myers Squibb Co.	Morgan Stanley		338,109			15,373,287			21,703,217			6,554,244
Gilead Sciences, Inc.	Morgan Stanley		40,862			2,580,888			2,655,213			130,604
Johnson & Johnson	Morgan Stanley		75,185			9,904,927			10,967,236			1,239,469
Mylan NV (Netherlands)	Morgan Stanley		46,090			796,761			926,409			133,392
Pfizer, Inc.	Morgan Stanley		149,746			5,613,750			5,867,048			297,949
			750,488			52,290,682			63,560,830			11,902,293
Real Estate
Alexandria Real Estate Equities, Inc., REIT	Morgan Stanley		1,846			265,276			298,277			37,871
Apartment Investment & Management Co., Class A, REIT	Morgan Stanley		1,252			63,523			64,666			1,458
Boston Properties, Inc., REIT	Morgan Stanley		3,538			467,030			487,749			29,679
CBRE Group, Inc., Class A	Morgan Stanley		30,009			1,657,356			1,839,252			189,663
Duke Realty Corp., REIT	Morgan Stanley		6			205			208			23
Equity Residential, REIT	Morgan Stanley		2,028			164,479			164,106			2,721
Essex Property Trust, Inc., REIT	Morgan Stanley		684			201,383			205,788			8,032
Extra Space Storage, Inc., REIT	Morgan Stanley		56			5,994			5,915			16
Federal Realty Investment Trust, REIT	Morgan Stanley		1,741			226,543			224,119			2,309
Healthpeak Properties, Inc.	Morgan Stanley		5,875			200,357			202,511			3,109
Kimco Realty Corp., REIT	Morgan Stanley		8,080			164,001			167,337			8,160
Mid-America Apartment Communities, Inc., REIT	Morgan Stanley		8,730			1,190,186			1,151,138			(33,465	)
Prologis, Inc., REIT	Morgan Stanley		36,512			3,185,744			3,254,680			102,709
Public Storage, REIT	Morgan Stanley		2,131			544,854			453,818			(80,368	)
Realty Income Corp., REIT	Morgan Stanley		5			364			368			26
UDR, Inc., REIT	Morgan Stanley		3,029			139,931			141,454			2,196
Welltower, Inc., REIT	Morgan Stanley		1,685			134,712			137,799			3,969
			107,207			8,611,938			8,799,185			278,108

11

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

Total Return Swaps (continued)

		Number of								Unrealized
		Contracts		Notional						Appreciation/
Reference Entity	Counterparty	Long/(Short)		Amount			Value			(Depreciation)*
Retailing
Advance Auto Parts, Inc.	Morgan Stanley		1,596		$	249,293		$	255,615		$	7,602
Amazon.com, Inc.	Morgan Stanley		1,908			3,343,808			3,525,679			197,523
AutoZone, Inc.	Morgan Stanley		2,500			2,743,954			2,978,275			247,168
Best Buy Co., Inc.	Morgan Stanley		1,671			133,352			146,714			15,516
Booking Holdings, Inc.	Morgan Stanley		4,481			8,337,716			9,202,764			929,602
Dollar General Corp.	Morgan Stanley		6,842			923,465			1,067,215			150,276
Gap, Inc. (The)	Morgan Stanley		32,837			562,682			580,558			20,525
Genuine Parts Co.	Morgan Stanley		22,122			2,289,421			2,350,020			88,189
Kohl’s Corp.	Morgan Stanley		13,142			629,410			669,585			52,580
LKQ Corp.	Morgan Stanley		67,365			1,842,433			2,404,931			571,130
Target Corp.	Morgan Stanley		101,888			8,339,849			13,063,060			4,896,713
TJX Cos., Inc. (The)	Morgan Stanley		40			2,425			2,442			47
Tractor Supply Co.	Morgan Stanley		1,802			169,770			168,379			(1,713	)
			258,194			29,567,578			36,415,237			7,175,158
Semiconductors & Semiconductor Equipment
Applied Materials, Inc.	Morgan Stanley		210			12,761			12,818			136
Intel Corp.	Morgan Stanley		105,137			4,880,253			6,292,449			1,487,822
KLA Corp.	Morgan Stanley		14,117			2,427,877			2,515,226			110,716
Lam Research Corp.	Morgan Stanley		22			5,952			6,433			545
Qorvo, Inc.	Morgan Stanley		21,795			1,553,274			2,533,233			987,239
Texas Instruments, Inc.	Morgan Stanley		11,069			1,326,601			1,420,042			109,317
			152,350			10,206,718			12,780,201			2,695,775
Software & Services
Accenture PLC, Class A (Ireland)	Morgan Stanley		125			26,227			26,321			235
Alliance Data Systems Corp.	Morgan Stanley		10,080			1,513,109			1,130,976			(362,337	)
Automatic Data Processing, Inc.	Morgan Stanley		5,902			958,974			1,006,291			57,185
Cognizant Technology Solutions Corp., Class A	Morgan Stanley		12,192			780,044			756,148			(15,535	)
International Business Machines Corp.	Morgan Stanley		8,212			1,102,659			1,100,736			3,251
Jack Henry & Associates, Inc.	Morgan Stanley		986			147,095			143,631			(2,363	)
Leidos Holdings, Inc.	Morgan Stanley		27,811			2,322,612			2,722,419			429,595
Mastercard, Inc., Class A	Morgan Stanley		1			270			299			48
Microsoft Corp.	Morgan Stanley		23,305			3,291,480			3,675,199			413,797
Oracle Corp.	Morgan Stanley		221,682			11,839,622			11,744,712			10,763
Paychex, Inc.	Morgan Stanley		423			35,877			35,980			290
Visa, Inc., Class A	Morgan Stanley		24,383			4,118,528			4,581,566			495,667
			335,102			26,136,497			26,924,278			1,030,596
Technology Hardware & Equipment
Amphenol Corp., Class A	Morgan Stanley		1,203			111,742			130,201			19,419
Apple, Inc.	Morgan Stanley		106,013			22,044,323			31,130,717			9,292,723
Arista Networks, Inc.	Morgan Stanley		6,179			1,151,871			1,256,809			114,095
CDW Corp.	Morgan Stanley		3,342			396,771			477,371			83,743
Cisco Systems, Inc.	Morgan Stanley		395,224			19,901,536			18,954,943			(727,753	)
F5 Networks, Inc.	Morgan Stanley		4,753			659,485			663,756			7,373
FLIR Systems, Inc.	Morgan Stanley		2,397			127,151			124,812			(1,444	)

12

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

Total Return Swaps (continued)

		Number of											Unrealized
		Contracts			Notional								Appreciation/
Reference Entity	Counterparty	Long/(Short)			Amount				Value				(Depreciation)*
Technology Hardware & Equipment — (continued)
HP, Inc.	Morgan Stanley		320,494			$	6,625,522			$	6,586,152			$	99,457
Juniper Networks, Inc.	Morgan Stanley		6,170				151,394				151,967				2,471
Keysight Technologies, Inc.	Morgan Stanley		1,883				199,682				193,252				(5,483	)
Motorola Solutions, Inc.	Morgan Stanley		5				807				806				22
NetApp, Inc.	Morgan Stanley		4,461				207,977				277,697				72,791
TE Connectivity Ltd. (Switzerland)	Morgan Stanley		4,350				392,724				416,904				28,035
Xerox Holdings Corp.	Morgan Stanley		38,764				1,088,881				1,429,229				364,839
Zebra Technologies Corp., Class A	Morgan Stanley		633				163,032				161,694				(558	)
			895,871				53,222,898				61,956,310				9,349,730
Telecommunication Services
AT&T, Inc.	Morgan Stanley		51,763				1,748,450				2,022,898				309,040
CenturyLink, Inc.	Morgan Stanley		25,279				297,534				333,935				50,451
T-Mobile US, Inc.	Morgan Stanley		7,947				614,117				623,204				13,086
Verizon Communications, Inc.	Morgan Stanley		202,350				11,502,973				12,424,290				1,077,142
			287,339				14,163,074				15,404,327				1,449,719
Transportation
Alaska Air Group, Inc.	Morgan Stanley		23,914				1,507,376				1,620,174				136,603
American Airlines Group, Inc.	Morgan Stanley		16,437				494,182				471,413				(18,800	)
CH Robinson Worldwide, Inc.	Morgan Stanley		1,304				102,447				101,973				968
CSX Corp.	Morgan Stanley		62,435				4,111,175				4,517,797				453,883
Delta Air Lines, Inc.	Morgan Stanley		73,168				4,176,231				4,278,865				151,593
Expeditors International of Washington, Inc.	Morgan Stanley		3,946				275,036				307,867				36,108
JB Hunt Transport Services, Inc.	Morgan Stanley		1,332				149,617				155,551				6,652
Kansas City Southern	Morgan Stanley		5,685				765,808				870,715				111,559
Norfolk Southern Corp.	Morgan Stanley		4				780				777				17
Southwest Airlines Co.	Morgan Stanley		103,812				5,290,645				5,603,772				375,253
Union Pacific Corp.	Morgan Stanley		16,119				2,594,973				2,914,154				349,727
United Airlines Holdings, Inc.	Morgan Stanley		32,404				2,938,496				2,854,468				(70,271	)
United Parcel Service, Inc., Class B	Morgan Stanley		13,543				1,557,327				1,585,344				46,872
			354,103				23,964,093				25,282,870				1,580,164
Utilities
AES Corp.	Morgan Stanley		14,062				215,442				279,834				67,286
Evergy, Inc.	Morgan Stanley		2,863				179,994				186,353				8,663
NRG Energy, Inc.	Morgan Stanley		55,401				1,890,353				2,202,190				322,883
Southern Co. (The)	Morgan Stanley		27,767				1,750,172				1,768,758				28,394
			100,093				4,035,961				4,437,135				427,226
Total Reference Entity — Long							584,547,079				648,732,510				71,364,460
Short
Automobiles & Components
Aptiv PLC (Jersey)	Morgan Stanley		(34,821	)			(2,858,986	)			(3,306,950	)			(480,762	)
Banks
Citizens Financial Group, Inc.	Morgan Stanley		(24,397	)			(893,696	)			(990,762	)			(109,307	)

13

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

Total Return Swaps (continued)

		Number of											Unrealized
		Contracts			Notional								Appreciation/
Reference Entity	Counterparty	Long/(Short)			Amount				Value				(Depreciation)*
Banks — (continued)
Comerica, Inc.	Morgan Stanley		(19,082	)		$	(1,250,851	)		$	(1,369,133	)		$	(139,007	)
Huntington Bancshares, Inc.	Morgan Stanley		(116,594	)			(1,516,972	)			(1,758,238	)			(289,546	)
KeyCorp.	Morgan Stanley		(70,385	)			(1,270,520	)			(1,424,592	)			(229,660	)
Regions Financial Corp.	Morgan Stanley		(145,573	)			(2,157,133	)			(2,498,033	)			(399,732	)
Zions Bancorp NA	Morgan Stanley		(20,199	)			(829,329	)			(1,048,732	)			(249,259	)
			(396,230	)			(7,918,501	)			(9,089,490	)			(1,416,511	)
Capital Goods
Boeing Co. (The)	Morgan Stanley		(37,392	)			(12,447,174	)			(12,180,818	)			115,569
Fastenal Co.	Morgan Stanley		(72,696	)			(2,520,263	)			(2,686,117	)			(197,767	)
Flowserve Corp.	Morgan Stanley		(10,345	)			(463,753	)			(514,871	)			(61,402	)
General Electric Co.	Morgan Stanley		(868,545	)			(8,797,835	)			(9,692,962	)			(964,705	)
Huntington Ingalls Industries, Inc.	Morgan Stanley		(5,797	)			(1,174,294	)			(1,454,351	)			(298,466	)
Quanta Services, Inc.	Morgan Stanley		(22,315	)			(742,197	)			(908,444	)			(172,958	)
Roper Technologies, Inc.	Morgan Stanley		(2,579	)			(921,071	)			(913,559	)			(688	)
Textron, Inc.	Morgan Stanley		(28,930	)			(1,354,886	)			(1,290,278	)			55,428
			(1,048,599	)			(28,421,473	)			(29,641,400	)			(1,524,989	)
Commercial & Professional Services
Copart, Inc.	Morgan Stanley		(208	)			(18,897	)			(18,916	)			(121	)
Republic Services, Inc.	Morgan Stanley		(1,000	)			(88,818	)			(89,630	)			(1,763	)
Rollins, Inc.	Morgan Stanley		(51,817	)			(1,684,052	)			(1,718,252	)			(52,926	)
			(53,025	)			(1,791,767	)			(1,826,798	)			(54,810	)
Consumer Durables & Apparel
Capri Holdings Ltd. (British Virgin Islands)	Morgan Stanley		(21,226	)			(671,493	)			(809,772	)			(142,532	)
DR Horton, Inc.	Morgan Stanley		(6,462	)			(351,235	)			(340,871	)			7,994
Hasbro, Inc.	Morgan Stanley		(16,003	)			(1,533,856	)			(1,690,077	)			(176,738	)
NIKE, Inc., Class B	Morgan Stanley		(29,660	)			(2,895,909	)			(3,004,855	)			(128,308	)
NVR, Inc.	Morgan Stanley		(469	)			(1,714,103	)			(1,786,144	)			(82,928	)
PulteGroup, Inc.	Morgan Stanley		(34,347	)			(1,166,860	)			(1,332,664	)			(179,873	)
Ralph Lauren Corp.	Morgan Stanley		(2,861	)			(338,300	)			(335,366	)			(1,848	)
Tapestry, Inc.	Morgan Stanley		(36,029	)			(929,055	)			(971,702	)			(60,699	)
Under Armour, Inc., Class C	Morgan Stanley		(65,034	)			(1,202,675	)			(1,247,352	)			(52,310	)
VF Corp.	Morgan Stanley		(50,438	)			(4,329,829	)			(5,026,651	)			(748,559	)
			(262,529	)			(15,133,315	)			(16,545,454	)			(1,565,801	)
Consumer Services
Carnival Corp. (Panama)	Morgan Stanley		(15,433	)			(790,004	)			(784,459	)			2,156
Chipotle Mexican Grill, Inc.	Morgan Stanley		(3,523	)			(2,874,440	)			(2,949,138	)			(92,967	)
Darden Restaurants, Inc.	Morgan Stanley		(14,924	)			(1,689,569	)			(1,626,865	)			51,974
Las Vegas Sands Corp.	Morgan Stanley		(61,113	)			(3,482,318	)			(4,219,242	)			(806,360	)
Royal Caribbean Cruises Ltd. (Liberia)	Morgan Stanley		(33,088	)			(3,561,048	)			(4,417,579	)			(930,784	)
Wynn Resorts Ltd.	Morgan Stanley		(17,212	)			(1,998,156	)			(2,390,230	)			(439,191	)
			(145,293	)			(14,395,535	)			(16,387,513	)			(2,215,172	)
Diversified Financials
Cboe Global Markets, Inc.	Morgan Stanley		(17,671	)			(2,004,064	)			(2,120,520	)			(141,910	)

14

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

Total Return Swaps (continued)

		Number of											Unrealized
		Contracts			Notional								Appreciation/
Reference Entity	Counterparty	Long/(Short)			Amount				Value				(Depreciation)*
Diversified Financials — (continued)
Charles Schwab Corp. (The)	Morgan Stanley		(45,071	)		$	(2,094,758	)		$	(2,143,577	)		$	(79,370	)
CME Group, Inc.	Morgan Stanley		(25,492	)			(5,338,476	)			(5,116,754	)			102,818
E*TRADE Financial Corp.	Morgan Stanley		(34,605	)			(1,427,029	)			(1,570,029	)			(161,749	)
State Street Corp.	Morgan Stanley		(39,698	)			(2,543,158	)			(3,140,112	)			(679,572	)
			(162,537	)			(13,407,485	)			(14,090,992	)			(959,783	)
Energy
Cabot Oil & Gas Corp.	Morgan Stanley		(51,706	)			(957,067	)			(900,201	)			45,673
Cimarex Energy Co.	Morgan Stanley		(15,594	)			(678,350	)			(818,529	)			(150,714	)
Concho Resources, Inc.	Morgan Stanley		(31,699	)			(2,242,295	)			(2,775,881	)			(553,079	)
Diamondback Energy, Inc.	Morgan Stanley		(25,837	)			(2,502,756	)			(2,399,224	)			77,940
EOG Resources, Inc.	Morgan Stanley		(61,371	)			(4,878,228	)			(5,140,435	)			(306,457	)
Exxon Mobil Corp.	Morgan Stanley		(69,489	)			(4,914,644	)			(4,848,942	)			(13,230	)
Marathon Oil Corp.	Morgan Stanley		(101,531	)			(1,200,963	)			(1,378,791	)			(190,526	)
National Oilwell Varco, Inc.	Morgan Stanley		(48,908	)			(1,087,240	)			(1,225,145	)			(147,748	)
Noble Energy, Inc.	Morgan Stanley		(76,620	)			(1,684,003	)			(1,903,241	)			(239,127	)
Occidental Petroleum Corp.	Morgan Stanley		(113,231	)			(4,538,262	)			(4,666,250	)			(246,293	)
ONEOK, Inc.	Morgan Stanley		(65,121	)			(4,404,723	)			(4,927,706	)			(612,633	)
Pioneer Natural Resources Co.	Morgan Stanley		(21,156	)			(2,686,297	)			(3,202,384	)			(551,234	)
Schlumberger Ltd. (Curacao)	Morgan Stanley		(150,251	)			(5,313,106	)			(6,040,090	)			(929,320	)
Williams Cos., Inc. (The)	Morgan Stanley		(191,553	)			(4,547,660	)			(4,543,637	)			(170,470	)
			(1,024,067	)			(41,635,594	)			(44,770,456	)			(3,987,218	)
Food, Beverage & Tobacco
Brown-Forman Corp., Class B	Morgan Stanley		(76,009	)			(4,108,723	)			(5,138,208	)			(1,081,472	)
Hormel Foods Corp.	Morgan Stanley		(78,815	)			(3,210,135	)			(3,555,345	)			(382,165	)
			(154,824	)			(7,318,858	)			(8,693,553	)			(1,463,637	)
Health Care Equipment & Services
Abbott Laboratories	Morgan Stanley		(82,739	)			(7,233,655	)			(7,186,710	)			(23,009	)
ABIOMED, Inc.	Morgan Stanley		(7,133	)			(1,372,099	)			(1,216,818	)			146,570
Align Technology, Inc.	Morgan Stanley		(12,547	)			(2,259,381	)			(3,501,115	)			(1,256,089	)
Baxter International, Inc.	Morgan Stanley		(73,532	)			(6,311,932	)			(6,148,746	)			90,696
Becton Dickinson and Co.	Morgan Stanley		(3,421	)			(871,637	)			(930,409	)			(187,432	)
Boston Scientific Corp.	Morgan Stanley		(211,506	)			(8,944,589	)			(9,564,301	)			(676,597	)
Cardinal Health, Inc.	Morgan Stanley		(37,138	)			(1,979,499	)			(1,878,440	)			70,617
Cerner Corp.	Morgan Stanley		(47,097	)			(3,292,866	)			(3,456,449	)			(201,467	)
Cooper Cos., Inc. (The)	Morgan Stanley		(7,816	)			(2,669,086	)			(2,511,203	)			140,922
DENTSPLY SIRONA, Inc.	Morgan Stanley		(35,224	)			(1,882,433	)			(1,993,326	)			(129,895	)
Edwards Lifesciences Corp.	Morgan Stanley		(13,826	)			(3,024,375	)			(3,225,468	)			(220,314	)
Hologic, Inc.	Morgan Stanley		(23,532	)			(1,171,020	)			(1,228,606	)			(73,138	)
IDEXX Laboratories, Inc.	Morgan Stanley		(13,674	)			(3,889,451	)			(3,570,692	)			294,034
Intuitive Surgical, Inc.	Morgan Stanley		(14,739	)			(7,314,564	)			(8,712,960	)			(1,444,910	)
ResMed, Inc.	Morgan Stanley		(4,799	)			(721,579	)			(743,701	)			(41,423	)
STERIS PLC (Ireland)	Morgan Stanley		(9,959	)			(1,511,383	)			(1,517,951	)			(16,164	)
Stryker Corp.	Morgan Stanley		(547	)			(120,081	)			(114,837	)			11,347
Teleflex, Inc.	Morgan Stanley		(7,275	)			(2,551,779	)			(2,738,601	)			(207,984	)
Varian Medical Systems, Inc.	Morgan Stanley		(11,343	)			(1,408,298	)			(1,610,819	)			(211,463	)

15

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

Total Return Swaps (continued)

		Number of											Unrealized
		Contracts			Notional								Appreciation/
Reference Entity	Counterparty	Long/(Short)			Amount				Value				(Depreciation)*
Health Care Equipment & Services — (continued)
Zimmer Biomet Holdings, Inc.	Morgan Stanley		(32,295	)		$	(4,354,734	)		$	(4,833,916	)		$	(522,369	)
			(650,142	)			(62,884,441	)			(66,685,068	)			(4,458,068	)
Household & Personal Products
Coty, Inc., Class A	Morgan Stanley		(118,857	)			(1,215,068	)			(1,337,141	)			(159,499	)
Estee Lauder Cos., Inc. (The), Class A	Morgan Stanley		(46,202	)			(8,592,970	)			(9,542,561	)			(1,026,416	)
			(165,059	)			(9,808,038	)			(10,879,702	)			(1,185,915	)
Insurance
Prudential Financial, Inc.	Morgan Stanley		(25,448	)			(2,371,469	)			(2,385,496	)			(58,792	)
Unum Group	Morgan Stanley		(32,647	)			(895,834	)			(951,987	)			(71,138	)
Willis Towers Watson PLC (Ireland)	Morgan Stanley		(16,293	)			(3,051,543	)			(3,290,208	)			(268,650	)
			(74,388	)			(6,318,846	)			(6,627,691	)			(398,580	)
Materials
Albemarle Corp.	Morgan Stanley		(16,810	)			(1,110,072	)			(1,227,802	)			(137,129	)
Corteva, Inc.	Morgan Stanley		(104,869	)			(3,110,126	)			(3,099,928	)			(23,202	)
Freeport-McMoRan, Inc.	Morgan Stanley		(228,068	)			(2,302,953	)			(2,992,252	)			(715,335	)
Newmont Goldcorp Corp.	Morgan Stanley		(118,226	)			(4,431,679	)			(5,136,920	)			(766,519	)
Sealed Air Corp.	Morgan Stanley		(5,392	)			(214,571	)			(214,763	)			(1,539	)
Vulcan Materials Co.	Morgan Stanley		(13,427	)			(1,882,917	)			(1,933,354	)			(66,671	)
			(486,792	)			(13,052,318	)			(14,605,019	)			(1,710,395	)
Media & Entertainment
Electronic Arts, Inc.	Morgan Stanley		(37,372	)			(3,604,341	)			(4,017,864	)			(436,434	)
Live Nation Entertainment, Inc.	Morgan Stanley		(25,109	)			(1,776,708	)			(1,794,540	)			(29,117	)
Netflix, Inc.	Morgan Stanley		(22,965	)			(7,249,200	)			(7,430,785	)			(227,684	)
News Corp., Class A	Morgan Stanley		(74,546	)			(977,206	)			(1,054,080	)			(83,073	)
Take-Two Interactive Software, Inc.	Morgan Stanley		(17,903	)			(2,263,345	)			(2,191,864	)			57,100
Twitter, Inc.	Morgan Stanley		(115,422	)			(4,706,568	)			(3,699,275	)			977,369
			(293,317	)			(20,577,368	)			(20,188,408	)			258,161
Pharmaceuticals, Biotechnology & Life Sciences
Agilent Technologies, Inc.	Morgan Stanley		(39,293	)			(2,991,437	)			(3,352,086	)			(386,734	)
Eli Lilly & Co.	Morgan Stanley		(92,240	)			(10,507,397	)			(12,123,103	)			(1,736,534	)
Illumina, Inc.	Morgan Stanley		(23,271	)			(6,765,862	)			(7,719,922	)			(997,083	)
Incyte Corp.	Morgan Stanley		(34,652	)			(2,797,724	)			(3,025,813	)			(245,869	)
IQVIA Holdings, Inc.	Morgan Stanley		(32,025	)			(5,101,582	)			(4,948,183	)			120,963
Mettler-Toledo International, Inc.	Morgan Stanley		(2,182	)			(1,499,779	)			(1,730,937	)			(283,487	)
PerkinElmer, Inc.	Morgan Stanley		(17,169	)			(1,532,638	)			(1,667,110	)			(145,406	)
Perrigo Co. PLC (Ireland)	Morgan Stanley		(17,251	)			(863,861	)			(891,187	)			(36,426	)
Regeneron Pharmaceuticals, Inc.	Morgan Stanley		(15,864	)			(5,165,689	)			(5,956,615	)			(823,770	)
Thermo Fisher Scientific, Inc.	Morgan Stanley		(2,844	)			(910,495	)			(923,930	)			(19,662	)
Vertex Pharmaceuticals, Inc.	Morgan Stanley		(41,078	)			(7,226,257	)			(8,994,028	)			(1,813,724	)
Waters Corp.	Morgan Stanley		(8,223	)			(1,769,071	)			(1,921,304	)			(163,469	)
Zoetis, Inc.	Morgan Stanley		(29,271	)			(3,554,194	)			(3,874,017	)			(392,641	)
			(355,363	)			(50,685,986	)			(57,128,235	)			(6,923,842	)

16

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

Total Return Swaps (continued)

		Number of											Unrealized
		Contracts			Notional								Appreciation/
Reference Entity	Counterparty	Long/(Short)			Amount				Value				(Depreciation)*
Real Estate
American Tower Corp., REIT	Morgan Stanley		(52,028	)		$	(11,545,950	)		$	(11,957,075	)		$	(542,895	)
Crown Castle International Corp., REIT	Morgan Stanley		(65,697	)			(8,627,159	)			(9,338,829	)			(919,280	)
Digital Realty Trust, Inc., REIT	Morgan Stanley		(5,325	)			(628,899	)			(637,616	)			(12,476	)
Equinix, Inc., REIT	Morgan Stanley		(10,809	)			(5,580,925	)			(6,309,213	)			(814,615	)
Host Hotels & Resorts, Inc., REIT	Morgan Stanley		(91,073	)			(1,525,737	)			(1,689,404	)			(196,124	)
Iron Mountain, Inc., REIT	Morgan Stanley		(45,310	)			(1,408,810	)			(1,444,030	)			(99,872	)
Regency Centers Corp., REIT	Morgan Stanley		(21,185	)			(1,403,505	)			(1,336,562	)			44,437
SBA Communications Corp., REIT	Morgan Stanley		(18,085	)			(4,380,415	)			(4,358,304	)			(19,120	)
Simon Property Group, Inc., REIT	Morgan Stanley		(38,042	)			(5,818,468	)			(5,666,736	)			37
SL Green Realty Corp., REIT	Morgan Stanley		(10,333	)			(860,328	)			(949,396	)			(103,667	)
Ventas, Inc., REIT	Morgan Stanley		(23,940	)			(1,556,178	)			(1,382,296	)			145,028
Vornado Realty Trust, REIT	Morgan Stanley		(24,192	)			(1,573,318	)			(1,608,768	)			(99,537	)
Weyerhaeuser Co., REIT	Morgan Stanley		(98,668	)			(2,465,718	)			(2,979,774	)			(593,585	)
			(504,687	)			(47,375,410	)			(49,658,003	)			(3,211,669	)
Retailing
CarMax, Inc.	Morgan Stanley		(20,899	)			(1,920,188	)			(1,832,215	)			75,775
Dollar Tree, Inc.	Morgan Stanley		(29,993	)			(3,366,803	)			(2,820,842	)			524,561
Expedia Group, Inc.	Morgan Stanley		(21,983	)			(3,049,262	)			(2,377,242	)			637,692
L Brands, Inc.	Morgan Stanley		(35,047	)			(614,773	)			(635,052	)			(24,171	)
Macy’s, Inc.	Morgan Stanley		(42,852	)			(686,022	)			(728,484	)			(79,161	)
Nordstrom, Inc.	Morgan Stanley		(19,834	)			(690,480	)			(811,806	)			(133,039	)
O’Reilly Automotive, Inc.	Morgan Stanley		(5,875	)			(2,336,775	)			(2,574,778	)			(301,558	)
Tiffany & Co.	Morgan Stanley		(16,090	)			(1,353,942	)			(2,150,429	)			(823,746	)
Ulta Beauty, Inc.	Morgan Stanley		(7,174	)			(1,829,222	)			(1,816,026	)			1,577
			(199,747	)			(15,847,467	)			(15,746,874	)			(122,070	)
Semiconductors & Semiconductor Equipment
Advanced Micro Devices, Inc.	Morgan Stanley		(7,467	)			(317,558	)			(342,437	)			(26,881	)
Analog Devices, Inc.	Morgan Stanley		(45,630	)			(5,117,122	)			(5,422,669	)			(362,769	)
Broadcom, Inc.	Morgan Stanley		(34,234	)			(10,131,202	)			(10,818,629	)			(914,420	)
Maxim Integrated Products, Inc.	Morgan Stanley		(34,471	)			(2,072,362	)			(2,120,311	)			(82,145	)
Microchip Technology, Inc.	Morgan Stanley		(33,789	)			(3,140,214	)			(3,538,384	)			(436,546	)
Micron Technology, Inc.	Morgan Stanley		(143,141	)			(6,687,731	)			(7,698,123	)			(1,052,919	)
NVIDIA Corp.	Morgan Stanley		(34,623	)			(7,040,521	)			(8,146,792	)			(1,238,029	)
QUALCOMM, Inc.	Morgan Stanley		(135,433	)			(11,943,718	)			(11,949,254	)			(175,030	)
Skyworks Solutions, Inc.	Morgan Stanley		(3,501	)			(330,133	)			(423,201	)			(182,214	)
Xilinx, Inc.	Morgan Stanley		(4,814	)			(470,434	)			(470,665	)			(3,205	)
			(477,103	)			(47,250,995	)			(50,930,465	)			(4,474,158	)
Software & Services
Adobe, Inc.	Morgan Stanley		(9,228	)			(2,865,226	)			(3,043,487	)			(196,470	)
Akamai Technologies, Inc.	Morgan Stanley		(25,622	)			(2,141,987	)			(2,213,228	)			(84,850	)
ANSYS, Inc.	Morgan Stanley		(5,137	)			(1,082,160	)			(1,322,315	)			(294,143	)
Autodesk, Inc.	Morgan Stanley		(30,913	)			(4,847,617	)			(5,671,299	)			(854,502	)
Cadence Design Systems, Inc.	Morgan Stanley		(2,975	)			(202,644	)			(206,346	)			(6,950	)
Citrix Systems, Inc.	Morgan Stanley		(16,464	)			(1,627,191	)			(1,825,858	)			(216,899	)
DXC Technology Co.	Morgan Stanley		(32,399	)			(1,115,822	)			(1,217,878	)			(115,941	)

17

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Continued)

December 31, 2019

(Unaudited)

Total Return Swaps (continued)

		Number of											Unrealized
		Contracts			Notional								Appreciation/
Reference Entity	Counterparty	Long/(Short)			Amount				Value				(Depreciation)*
Software & Services — (continued)
Fidelity National Information Services, Inc.	Morgan Stanley		(67,412	)		$	(8,870,290	)		$	(9,376,335	)		$	(586,010	)
Fiserv, Inc.	Morgan Stanley		(78,734	)			(8,462,228	)			(9,104,012	)			(695,601	)
Fortinet, Inc.	Morgan Stanley		(26,786	)			(2,170,633	)			(2,859,673	)			(702,831	)
Gartner, Inc.	Morgan Stanley		(13,784	)			(2,353,342	)			(2,124,114	)			214,275
Intuit, Inc.	Morgan Stanley		(32,427	)			(8,384,718	)			(8,493,604	)			(162,209	)
NortonLifeLock, Inc.	Morgan Stanley		(101,158	)			(2,098,524	)			(2,581,552	)			(516,592	)
PayPal Holdings, Inc.	Morgan Stanley		(40,558	)			(4,260,887	)			(4,387,159	)			(153,360	)
salesforce.com, Inc.	Morgan Stanley		(33,866	)			(5,211,060	)			(5,507,966	)			(330,039	)
ServiceNow, Inc.	Morgan Stanley		(18,238	)			(5,072,363	)			(5,148,952	)			(108,839	)
Synopsys, Inc.	Morgan Stanley		(18,599	)			(2,580,471	)			(2,588,981	)			(25,845	)
VeriSign, Inc.	Morgan Stanley		(14,583	)			(2,741,978	)			(2,809,852	)			(85,300	)
			(568,883	)			(66,089,141	)			(70,482,611	)			(4,922,106	)
Technology Hardware & Equipment
Corning, Inc.	Morgan Stanley		(120,041	)			(3,763,452	)			(3,494,393	)			197,119
IPG Photonics Corp.	Morgan Stanley		(8,454	)			(999,677	)			(1,225,154	)			(231,818	)
Western Digital Corp.	Morgan Stanley		(45,331	)			(2,494,827	)			(2,877,158	)			(420,850	)
			(173,826	)			(7,257,956	)			(7,596,705	)			(455,549	)
Transportation
FedEx Corp.	Morgan Stanley		(33,057	)			(4,790,660	)			(4,998,549	)			(259,834	)
Old Dominion Freight Line, Inc.	Morgan Stanley		(9,905	)			(1,849,501	)			(1,879,771	)			(42,017	)
			(42,962	)			(6,640,161	)			(6,878,320	)			(301,851	)
Utilities
Alliant Energy Corp.	Morgan Stanley		(37,350	)			(1,865,049	)			(2,043,792	)			(209,961	)
Ameren Corp.	Morgan Stanley		(38,456	)			(2,923,133	)			(2,953,421	)			(86,168	)
American Electric Power Co., Inc.	Morgan Stanley		(78,061	)			(7,005,194	)			(7,377,545	)			(523,841	)
American Water Works Co., Inc.	Morgan Stanley		(28,402	)			(3,275,772	)			(3,489,186	)			(262,637	)
Atmos Energy Corp.	Morgan Stanley		(18,385	)			(1,999,790	)			(2,056,546	)			(89,684	)
CenterPoint Energy, Inc.	Morgan Stanley		(78,353	)			(2,175,079	)			(2,136,686	)			(20,479	)
CMS Energy Corp.	Morgan Stanley		(35,973	)			(2,259,266	)			(2,260,543	)			(29,058	)
Consolidated Edison, Inc.	Morgan Stanley		(50,488	)			(4,330,949	)			(4,567,649	)			(338,956	)
Dominion Energy, Inc.	Morgan Stanley		(60,176	)			(4,501,318	)			(4,983,776	)			(645,707	)
DTE Energy Co.	Morgan Stanley		(24,287	)			(3,147,179	)			(3,154,153	)			(74,472	)
Duke Energy Corp.	Morgan Stanley		(113,653	)			(9,892,269	)			(10,366,290	)			(751,739	)
Edison International	Morgan Stanley		(51,244	)			(3,620,565	)			(3,864,310	)			(330,814	)
Entergy Corp.	Morgan Stanley		(29,736	)			(3,120,034	)			(3,562,373	)			(516,883	)
Eversource Energy	Morgan Stanley		(49,540	)			(3,792,287	)			(4,214,368	)			(499,196	)
Exelon Corp.	Morgan Stanley		(80,276	)			(3,629,289	)			(3,659,783	)			(102,159	)
FirstEnergy Corp.	Morgan Stanley		(77,765	)			(3,378,112	)			(3,779,379	)			(481,841	)
NextEra Energy, Inc.	Morgan Stanley		(53,309	)			(11,253,878	)			(12,909,307	)			(1,916,611	)
NiSource, Inc.	Morgan Stanley		(58,568	)			(1,686,188	)			(1,630,533	)			28,545
Pinnacle West Capital Corp.	Morgan Stanley		(17,393	)			(1,592,329	)			(1,564,152	)			4,455
PPL Corp.	Morgan Stanley		(104,742	)			(3,069,988	)			(3,758,143	)			(794,079	)
Public Service Enterprise Group, Inc.	Morgan Stanley		(63,885	)			(3,965,419	)			(3,772,409	)			137,775
Sempra Energy	Morgan Stanley		(34,730	)			(4,933,064	)			(5,260,900	)			(392,802	)

18

GOTHAM INDEX PLUS FUND

Portfolio of Investments (Concluded)

December 31, 2019

(Unaudited)

Total Return Swaps (concluded)

		Number of											Unrealized
		Contracts			Notional								Appreciation/
Reference Entity	Counterparty	Long/(Short)			Amount				Value				(Depreciation)*
Utilities — (continued)
WEC Energy Group, Inc.	Morgan Stanley		(45,801	)		$	(3,986,061	)		$	(4,224,226	)		$	(317,550	)
Xcel Energy, Inc.	Morgan Stanley		(81,259	)			(4,955,174	)			(5,159,134	)			(301,285	)
			(1,311,832	)			(96,357,386	)			(102,748,604	)			(8,515,147	)
Total Reference Entity — Short							(583,027,027	)			(624,508,311	)			(50,089,872	)
Net Value of Reference Entity						$	1,520,052			$	24,224,199			$	21,274,588

* Includes $(1,429,559) related to open trades, dividends receivables/payables and swap receivables/payables activities.

All financial instruments listed in the Portfolio of Investments are considered Level 1, measured at fair value on a recurring basis based on quoted prices for identical assets in active markets, except for total return swaps with end of period unrealized appreciation of $21,274,588, which are considered Level 2 as of and for the period ended December 31, 2019.

For additional information about significant accounting policies, including valuation of investments, refer to the Fund’s most recent annual or semi-annual report.

19