NPORT-EX 2 fp0059692_nportex_-_992220.htm SBH SOI 09-30-20

SEGALL BRYANT & HAMILL SMALL CAP VALUE FUND
STATEMENT OF INVESTMENTS
September 30, 2020 (Unaudited)
 
COMMON STOCKS - 89.5%  Shares  Value
Communications - 0.6%          
Advertising & Marketing - 0.6%          
Quotient Technology, Inc. (a)   219,790   $1,622,050 
           
Consumer Discretionary - 3.5%          
Apparel & Textile Products - 2.7%          
Gildan Activewear, Inc. (Canada)   89,170    1,753,974 
Tapestry, Inc.   191,840    2,998,459 
Under Armour, Inc. - Class A (a)   273,092    3,066,823 
         7,819,256 
Leisure Facilities & Services - 0.8%          
Jack in the Box, Inc.   14,446    1,145,713 
Papa John's International, Inc.   15,293    1,258,308 
         2,404,021 
Consumer Staples - 9.4%          
Food - 7.3%          
Hain Celestial Group, Inc. (The) (a)   390,357    13,389,245 
Pilgrim's Pride Corp. (a)   110,313    1,650,834 
TreeHouse Foods, Inc. (a)   152,432    6,178,069 
         21,218,148 
Household Products - 1.2%          
Quanex Building Products Corp.   198,229    3,655,343 
           
Wholesale - Consumer Staples - 0.9%          
Core-Mark Holding Co., Inc.   87,179    2,522,088 
           
Energy - 3.8%          
Oil & Gas Producers - 2.0%          
Parsley Energy, Inc. - Class A   148,922    1,393,910 
PDC Energy, Inc. (a)   162,544    2,014,733 
WPX Energy, Inc. (a)   473,259    2,318,969 
         5,727,612 
Oil & Gas Services & Equipment - 0.6%          
Helmerich & Payne, Inc.   82,150    1,203,498 
NexTier Oilfield Solutions, Inc. (a)   280,713    519,319 
         1,722,817 

 

 

 

SEGALL BRYANT & HAMILL SMALL CAP VALUE FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 89.5% (Continued)  Shares  Value
Energy - 3.8% (Continued)          
Renewable Energy - 1.2%          
EnerSys   53,393   $3,583,738 
           
Financials - 11.9%          
Banking - 11.9%          
Community Bank System, Inc.   53,736    2,926,463 
Enterprise Financial Services Corp.   85,576    2,333,658 
First Busey Corp.   127,695    2,029,074 
Glacier Bancorp, Inc.   74,754    2,395,866 
Investors Bancorp, Inc.   286,228    2,078,015 
Lakeland Financial Corp.   89,868    3,702,562 
National Bank Holdings Corp. - Class A   159,118    4,176,847 
Renasant Corp.   122,263    2,777,815 
Seacoast Banking Corp. of Florida (a)   192,379    3,468,593 
Umpqua Holdings Corp.   380,044    4,036,067 
United Community Banks, Inc.   161,541    2,734,889 
WesBanco, Inc.   99,114    2,117,075 
         34,776,924 
Health Care - 12.4%          
Biotech & Pharma - 0.4%          
Alkermes PLC (Ireland) (a)   71,954    1,192,278 
           
Health Care Facilities & Services - 5.6%          
Magellan Health, Inc. (a)   129,678    9,826,999 
MEDNAX, Inc. (a)   387,563    6,309,525 
         16,136,524 
Medical Equipment & Devices - 6.4%          
AngioDynamics, Inc. (a)   77,971    940,330 
Chembio Diagnostics, Inc. (a)   125,773    611,257 
Haemonetics Corp. (a)   19,973    1,742,644 
ICU Medical, Inc. (a)   22,146    4,047,403 
Orthofix Medical, Inc. (a)   362,110    11,276,106 
         18,617,740 

 

 

 

SEGALL BRYANT & HAMILL SMALL CAP VALUE FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 89.5% (Continued)  Shares  Value
Industrials - 19.7%          
Aerospace & Defense - 0.4%          
AAR Corp.   66,198   $1,244,522 
           
Commercial Support Services - 1.2%          
Huron Consulting Group, Inc. (a)   40,236    1,582,482 
Schnitzer Steel Industries, Inc. - Class A   100,825    1,938,865 
         3,521,347 
Electrical Equipment - 6.7%          
Belden, Inc.   51,289    1,596,114 
FARO Technologies, Inc. (a)   161,374    9,840,587 
SPX Corp. (a)   176,501    8,186,116 
         19,622,817 
Engineering & Construction - 1.3%          
Sterling Construction Co., Inc. (a)   258,316    3,657,755 
           
Industrial Intermediate Products - 1.0%          
AZZ, Inc.   83,487    2,848,576 
           
Machinery - 8.5%          
Astec Industries, Inc.   68,778    3,731,206 
CIRCOR International, Inc. (a)   81,228    2,221,586 
Columbus McKinnon Corp.   90,841    3,006,837 
Manitowoc Co., Inc. (The) (a)   176,668    1,485,778 
Regal Beloit Corp.   152,349    14,301,001 
         24,746,408 
Transportation Equipment - 0.6%          
REV Group, Inc.   211,934    1,672,159 
           
Materials - 6.4%          
Chemicals - 0.8%          
Ferro Corp. (a)   196,975    2,442,490 
           
Containers & Packaging - 1.6%          
Silgan Holdings, Inc.   123,296    4,533,594 

 

 

 

SEGALL BRYANT & HAMILL SMALL CAP VALUE FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 89.5% (Continued)  Shares  Value
Materials - 6.4% (Continued)          
Forestry, Paper & Wood Products - 1.7%          
P.H. Glatfelter Co.   347,653   $4,787,181 
           
Metals & Mining - 2.3%          
Coeur Mining, Inc. (a)   84,824    626,001 
Compass Minerals International, Inc.   103,042    6,115,543 
         6,741,544 
Real Estate - 6.4%          
REIT - 6.4%          
Cousins Properties, Inc.   41,952    1,199,408 
Empire State Realty Trust, Inc. - Class A   208,174    1,274,025 
Equity Commonwealth   481,840    12,831,399 
Physicians Realty Trust   184,875    3,311,111 
         18,615,943 
Technology - 11.9%          
Software - 4.0%          
CommVault Systems, Inc. (a)   44,042    1,796,914 
Progress Software Corp.   269,431    9,882,729 
         11,679,643 
Technology Hardware - 6.8%          
FLIR Systems, Inc.   52,380    1,877,823 
NCR Corp. (a)   721,463    15,973,191 
Sierra Wireless, Inc. (Canada) (a)   172,656    1,926,841 
         19,777,855 
Technology Services - 1.1%          
Conduent, Inc. (a)   276,033    877,785 
CSG Systems International, Inc.   53,986    2,210,726 
         3,088,511 
Utilities - 3.5%          
Electric Utilities - 1.8%          
ALLETE, Inc.   53,318    2,758,673 
PNM Resources, Inc.   64,054    2,647,352 
         5,406,025 
Gas & Water Utilities - 1.7%          
California Water Service Group   51,981    2,258,575 

 

 

 

SEGALL BRYANT & HAMILL SMALL CAP VALUE FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 89.5% (Continued)  Shares  Value
Utilities - 3.5% (Continued)          
Gas & Water Utilities - 1.7% (Continued)          
New Jersey Resources Corp.   96,071   $2,595,838 
         4,854,413 
           
Investments at Value - 89.5% (Cost $256,934,888)       $260,239,322 
           
Other Assets in Excess of Liabilities - 10.5%        30,657,503 
           
Net Assets - 100.0%       $290,896,825 

 

(a) Non-income producing security.

 

The Fund's sector and industry classifications presented herein refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. For Fund compliance purposes, sector and industry classifications are based on the sector and industry categorization methodology of the Adviser to the Funds. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

 

See notes to Quarterly Statements of Investments.

 

 

 

SEGALL BRYANT & HAMILL SMALL CAP GROWTH FUND
STATEMENT OF INVESTMENTS
September 30, 2020 (Unaudited)
 
COMMON STOCKS - 97.4%  Shares  Value
Communications - 3.8%          
Internet Media & Services - 1.7%          
Eventbrite, Inc. - Class A (a)   32,030   $347,526 
Upwork, Inc. (a)   62,261    1,085,832 
         1,433,358 
Publishing & Broadcasting - 0.9%          
New York Times Co. (The) - Class A   17,023    728,414 
           
Telecommunications - 1.2%          
Cogent Communications Holdings, Inc.   16,360    982,418 
           
Consumer Discretionary - 13.2%          
Consumer Services - 3.4%          
Bright Horizons Family Solutions, Inc. (a)   18,382    2,794,799 
           
E-Commerce Discretionary - 0.4%          
Revolve Group, Inc. (a)   19,765    324,739 
           
Leisure Facilities & Services - 6.4%          
Churchill Downs, Inc.   10,905    1,786,457 
Shake Shack, Inc. - Class A (a)   22,844    1,472,981 
Vail Resorts, Inc.   5,996    1,282,964 
Wingstop, Inc.   4,725    645,672 
         5,188,074 
Leisure Products - 1.5%          
Callaway Golf Co.   28,858    552,342 
Fox Factory Holding Corp. (a)   9,277    689,559 
         1,241,901 
Retail - Discretionary - 1.5%          
RH (a)   3,171    1,213,288 
           
Consumer Staples - 1.8%          
Food - 0.5%          
Simply Good Foods Co. (The) (a)   19,132    421,861 

 

 

 

SEGALL BRYANT & HAMILL SMALL CAP GROWTH FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.4% (Continued)  Shares  Value
Consumer Staples - 1.8% (Continued)          
Retail - Consumer Staples - 1.3%          
Ollie's Bargain Outlet Holdings, Inc. (a)   11,812   $1,031,778 
           
Energy - 1.3%          
Renewable Energy - 1.3%          
TPI Composites, Inc. (a)   35,545    1,029,383 
           
Financials - 9.7%          
Asset Management - 1.7%          
Focus Financial Partners, Inc. - Class A (a)   18,874    618,878 
Hamilton Lane, Inc. - Class A   12,366    798,720 
         1,417,598 
Banking - 0.9%          
Bank OZK   13,765    293,470 
Eagle Bancorp, Inc.   17,570    470,700 
         764,170 
Institutional Financial Services - 1.4%          
Evercore, Inc. - Class A   6,828    446,961 
Houlihan Lokey, Inc.   11,772    695,137 
         1,142,098 
Insurance - 4.9%          
Goosehead Insurance, Inc. - Class A   19,003    1,645,470 
Trupanion, Inc. (a)   29,523    2,329,365 
         3,974,835 
Specialty Finance - 0.8%          
LendingTree, Inc. (a)   1,969    604,266 
           
Health Care - 25.3%          
Biotech & Pharma - 7.1%          
Amicus Therapeutics, Inc. (a)   43,523    614,545 
Blueprint Medicines Corp. (a)   9,421    873,327 
Fate Therapeutics, Inc. (a)   16,543    661,224 
Pacira BioSciences, Inc. (a)   12,391    744,947 
Turning Point Therapeutics, Inc. (a)   11,575    1,011,192 
Twist Bioscience Corp. (a)   15,082    1,145,779 

 

 

 

SEGALL BRYANT & HAMILL SMALL CAP GROWTH FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.4% (Continued)  Shares  Value
Health Care - 25.3% (Continued)          
Biotech & Pharma - 7.1% (Continued)          
Xencor, Inc. (a)   20,369   $790,113 
         5,841,127 
Health Care Facilities & Services - 5.1%          
Addus HomeCare Corp. (a)   13,627    1,287,888 
Amedisys, Inc. (a)   8,821    2,085,549 
PRA Health Sciences, Inc. (a)   7,875    798,840 
         4,172,277 
Medical Equipment & Devices - 13.1%          
Adaptive Biotechnologies Corp. (a)   22,224    1,080,753 
Cardiovascular Systems, Inc. (a)   21,902    861,844 
Castle Biosciences, Inc. (a)   15,740    809,823 
CONMED Corp.   14,790    1,163,529 
Globus Medical, Inc. - Class A (a)   26,171    1,295,988 
Inspire Medical Systems, Inc. (a)   9,835    1,269,207 
Integra LifeSciences Holdings Corp. (a)   13,250    625,665 
LivaNova PLC (United Kingdom) (a)   9,007    407,206 
Natera, Inc. (a)   24,495    1,769,519 
Silk Road Medical, Inc. (a)   20,889    1,403,950 
         10,687,484 
Industrials - 13.9%          
Aerospace & Defense - 3.7%          
AeroVironment, Inc. (a)   8,000    480,080 
Hexcel Corp.   23,906    802,046 
Kratos Defense & Security Solutions, Inc. (a)   42,655    822,389 
Mercury Systems, Inc. (a)   12,391    959,807 
         3,064,322 
Commercial Support Services - 1.8%          
ASGN, Inc. (a)   11,249    714,986 
Huron Consulting Group, Inc. (a)   18,476    726,661 
         1,441,647 
Electrical Equipment - 2.2%          
Generac Holdings, Inc. (a)   4,637    897,909 
Novanta, Inc. (Canada) (a)   8,266    870,740 
         1,768,649 

 

 

 

SEGALL BRYANT & HAMILL SMALL CAP GROWTH FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.4% (Continued)  Shares  Value
Industrials - 13.9% (Continued)          
Engineering & Construction - 1.6%          
Tetra Tech, Inc.   13,835   $1,321,242 
           
Industrial Intermediate Prod - 1.2%          
Proto Labs, Inc. (a)   7,734    1,001,553 
           
Industrial Support Services - 1.5%          
Ritchie Bros. Auctioneers, Inc. (Canada)   20,641    1,222,979 
           
Machinery - 0.9%          
John Bean Technologies Corp.   7,984    733,650 
           
Transportation & Logistics - 1.0%          
Saia, Inc. (a)   6,711    846,526 
           
Materials - 4.6%          
Chemicals - 2.3%          
Avient Corp.   23,390    618,900 
Ingevity Corp. (a)   15,398    761,277 
Innospec, Inc.   7,344    465,022 
         1,845,199 
Forestry, Paper & Wood Products - 1.8%          
Trex Co., Inc. (a)   20,812    1,490,139 
           
Metals & Mining - 0.5%          
Livent Corp. (a)   48,389    434,049 
           
Real Estate - 3.1%          
REIT - 3.1%          
Americold Realty Trust   21,374    764,121 
QTS Realty Trust, Inc. - Class A   23,257    1,465,656 
Terreno Realty Corp.   6,304    345,207 
         2,574,984 
Technology - 20.7%          
Semiconductors - 7.2%          
Entegris, Inc.   21,789    1,619,794 

 

 

 

SEGALL BRYANT & HAMILL SMALL CAP GROWTH FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.4% (Continued)  Shares  Value
Technology - 20.7% (Continued)          
Semiconductors - 7.2% (Continued)          
Inphi Corp. (a)   12,656   $1,420,636 
Onto Innovation, Inc. (a)   23,889    711,414 
Power Integrations, Inc.   14,094    780,808 
Silicon Laboratories, Inc. (a)   13,500    1,320,975 
         5,853,627 
Software - 7.8%          
Anaplan, Inc. (a)   12,546    785,129 
Envestnet, Inc. (a)   20,491    1,581,086 
Everbridge, Inc. (a)   10,032    1,261,323 
Omnicell, Inc. (a)   14,124    1,054,498 
RealPage, Inc. (a)   9,491    547,061 
Zendesk, Inc. (a)   11,109    1,143,338 
         6,372,435 
Technology Services - 5.7%          
Endava PLC ADR (United Kingdom) (a)   17,867    1,128,301 
Globant S.A. (Luxembourg) (a)   13,234    2,371,798 
MAXIMUS, Inc.   16,945    1,159,207 
         4,659,306 
           
Investments at Value - 97.4% (Cost $56,428,785)       $79,624,175 
           
Other Assets in Excess of Liabilities - 2.6%        2,142,308 
           
Net Assets - 100.0%       $81,766,483 

 

(a) Non-income producing security.

 

The Fund's sector and industry classifications presented herein refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. For Fund compliance purposes, sector and industry classifications are based on the sector and industry categorization methodology of the Adviser to the Funds. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

 

See notes to Quarterly Statements of Investments.

 

 

 

SEGALL BRYANT & HAMILL SMALL CAP CORE FUND
STATEMENT OF INVESTMENTS
September 30, 2020 (Unaudited)
 
COMMON STOCKS - 92.0%  Shares  Value
Consumer Discretionary - 8.1%          
Apparel & Textile Products - 1.3%          
Columbia Sportswear Co.   2,173   $189,008 
Under Armour, Inc. - Class A (a)   14,580    163,733 
Wolverine World Wide, Inc.   4,553    117,649 
         470,390 
Automotive - 1.6%          
Dorman Products, Inc. (a)   6,495    587,018 
           
Home Construction - 0.3%          
Armstrong World Industries, Inc.   1,529    105,211 
           
Leisure Facilities & Services - 3.1%          
Choice Hotels International, Inc.   3,159    271,548 
Churchill Downs, Inc.   2,379    389,728 
Jack in the Box, Inc.   2,963    234,995 
Texas Roadhouse, Inc.   3,739    227,294 
         1,123,565 
Leisure Products - 1.8%          
Fox Factory Holding Corp. (a)   8,564    636,562 
           
Consumer Staples - 7.7%          
Food - 5.7%          
Hain Celestial Group, Inc. (The) (a)   38,140    1,308,202 
Lancaster Colony Corp.   2,533    452,901 
TreeHouse Foods, Inc. (a)   7,619    308,798 
         2,069,901 
Retail - Consumer Staples - 1.1%          
Five Below, Inc. (a)   3,056    388,112 
           
Wholesale - Consumer Staples - 0.9%          
Core-Mark Holding Co., Inc.   11,537    333,765 
           
Energy - 2.6%          
Oil & Gas Producers - 1.0%          
PDC Energy, Inc. (a)   7,594    94,128 

 

 

 

SEGALL BRYANT & HAMILL SMALL CAP CORE FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 92.0% (Continued)  Shares  Value
Energy - 2.6% (Continued)          
Oil & Gas Producers - 1.0% (Continued)          
World Fuel Services Corp.   5,139   $108,895 
WPX Energy, Inc. (a)   31,781    155,727 
         358,750 
Renewable Energy - 1.6%          
EnerSys   8,508    571,057 
           
Financials - 5.4%          
Banking - 5.4%          
Ameris Bancorp   14,306    325,891 
Glacier Bancorp, Inc.   12,195    390,850 
Lakeland Financial Corp.   10,125    417,150 
Seacoast Banking Corp. of Florida (a)   17,269    311,360 
South State Corp.   5,958    286,878 
United Bankshares, Inc.   9,901    212,574 
         1,944,703 
Health Care - 16.0%          
Biotech & Pharma - 2.6%          
Horizon Therapeutics PLC (a)   12,333    958,027 
           
Health Care Facilities & Services - 4.2%          
Amedisys, Inc. (a)   2,666    630,323 
Encompass Health Corp.   6,681    434,131 
NeoGenomics, Inc. (a)   11,943    440,577 
         1,505,031 
Medical Equipment & Devices - 9.2%          
Bio-Rad Laboratories, Inc. - Class A (a)   1,372    707,211 
Bio-Techne Corp.   1,524    377,541 
Globus Medical, Inc. - Class A (a)   9,312    461,130 
Haemonetics Corp. (a)   1,969    171,795 
Insulet Corp. (a)   2,813    665,528 
Integra LifeSciences Holdings Corp. (a)   7,110    335,734 
NuVasive, Inc. (a)   3,843    186,655 
Orthofix Medical, Inc. (a)   13,273    413,321 
         3,318,915 

 

 

 

SEGALL BRYANT & HAMILL SMALL CAP CORE FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 92.0% (Continued)  Shares  Value
Industrials - 19.0%          
Commercial Support Services - 1.8%          
Casella Waste Systems, Inc. - Class A (a)   11,581   $646,799 
           
Diversified Industrials - 1.3%          
ITT, Inc.   8,147    481,080 
           
Electrical Equipment - 5.6%          
Advanced Energy Industries, Inc. (a)   8,184    515,101 
BWX Technologies, Inc.   10,599    596,830 
FARO Technologies, Inc. (a)   3,734    227,699 
SPX Corp. (a)   11,588    537,452 
Stoneridge, Inc. (a)   8,838    162,354 
         2,039,436 
Engineering & Construction - 0.9%          
Tetra Tech, Inc.   3,384    323,172 
           
Industrial Intermediate Products - 2.1%          
RBC Bearings, Inc. (a)   1,079    130,786 
Standex International Corp.   5,047    298,782 
Timken Co. (The)   6,468    350,695 
         780,263 
Industrial Support Services - 0.7%          
MSC Industrial Direct Co., Inc. - Class A   4,099    259,385 
           
Machinery - 4.1%          
Columbus McKinnon Corp.   7,180    237,658 
IDEX Corp.   1,728    315,204 
Regal Beloit Corp.   4,541    426,264 
Rexnord Corp.   16,595    495,195 
         1,474,321 
Transportation & Logistics - 2.5%          
Allegiant Travel Co.   2,265    271,347 
Forward Air Corp.   4,442    254,882 
Hub Group, Inc. - Class A (a)   7,284    365,620 
         891,849 

 

 

 

SEGALL BRYANT & HAMILL SMALL CAP CORE FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 92.0% (Continued)  Shares  Value
Materials - 8.5%          
Chemicals - 2.2%          
Ferro Corp. (a)   18,833   $233,529 
Ingevity Corp. (a)   4,156    205,473 
Quaker Chemical Corp.   1,969    353,849 
         792,851 
Construction Materials - 1.1%          
Carlisle Cos., Inc.   3,261    399,049 
           
Containers & Packaging - 2.5%          
Berry Global Group, Inc. (a)   12,131    586,170 
Silgan Holdings, Inc.   8,678    319,090 
         905,260 
Forestry, Paper & Wood Products - 1.4%          
UFP Industries, Inc.   9,079    513,054 
           
Metals & Mining - 1.3%          
Compass Minerals International, Inc.   7,895    468,568 
           
Real Estate - 3.2%          
REIT - 3.2%          
Americold Realty Trust   11,106    397,040 
Equity Commonwealth   28,615    762,017 
         1,159,057 
Technology - 21.5%          
Semiconductors - 4.2%          
Coherent, Inc. (a)   2,632    291,968 
Entegris, Inc.   8,546    635,310 
Lattice Semiconductor Corp. (a)   9,459    273,932 
Silicon Laboratories, Inc. (a)   3,399    332,592 
         1,533,802 
Software - 12.4%          
Anaplan, Inc. (a)   7,169    448,636 
BlackLine, Inc. (a)   6,951    623,018 
Five9, Inc. (a)   7,040    912,947 
Model N, Inc. (a)   10,100    356,328 
Pegasystems, Inc.   7,974    965,173 

 

 

 

SEGALL BRYANT & HAMILL SMALL CAP CORE FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 92.0% (Continued)  Shares  Value
Technology - 21.5% (Continued)          
Software - 12.4% (Continued)          
Proofpoint, Inc. (a)   3,239   $341,876 
RealPage, Inc. (a)   9,487    546,831 
Workiva, Inc. (a)   5,200    289,952 
         4,484,761 
Technology Hardware - 2.2%          
Pure Storage, Inc. - Class A (a)   27,927    429,797 
Universal Electronics, Inc. (a)   9,758    368,267 
         798,064 
Technology Services - 2.7%          
Endava PLC ADR (United Kingdom) (a)   7,143    451,080 
WNS Holdings, Ltd. ADR (Jersey) (a)   7,870    503,365 
         954,445 
           
Investments at Value - 92.0% (Cost $25,405,119)       $33,276,223 
           
Other Assets in Excess of Liabilities - 8.0%        2,903,295 
           
Net Assets - 100.0%       $36,179,518 

 

(a) Non-income producing security.

 

The Fund's sector and industry classifications presented herein refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. For Fund compliance purposes, sector and industry classifications are based on the sector and industry categorization methodology of the Adviser to the Funds. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

 

See notes to Quarterly Statements of Investments.

 

 

 

SEGALL BRYANT & HAMILL ALL CAP FUND
STATEMENT OF INVESTMENTS
September 30, 2020 (Unaudited)
 
COMMON STOCKS - 97.1%  Shares  Value
Communications - 5.7%          
Cable & Satellite - 3.0%          
Cable One, Inc.   1,451   $2,735,759 
Comcast Corp. - Class A   35,964    1,663,695 
         4,399,454 
Internet Media & Services - 2.7%          
Alphabet, Inc. - Class C (a)   2,760    4,056,096 
           
Consumer Discretionary - 10.6%          
Apparel & Textile Products - 1.2%          
VF Corp.   26,099    1,833,455 
           
E-Commerce Discretionary - 4.3%          
Amazon.com, Inc. (a)   2,020    6,360,435 
           
Retail - Discretionary - 5.1%          
Home Depot, Inc. (The)   7,811    2,169,193 
O'Reilly Automotive, Inc. (a)   5,320    2,452,945 
TJX Cos., Inc. (The)   52,101    2,899,421 
         7,521,559 
Consumer Staples - 8.3%          
Food - 3.7%          
Hain Celestial Group, Inc. (The) (a)   45,659    1,566,104 
Lamb Weston Holdings, Inc.   20,442    1,354,691 
Mondelēz International, Inc. - Class A   44,260    2,542,737 
         5,463,532 
Household Products - 2.4%          
Clorox Co. (The)   6,437    1,352,864 
Estée Lauder Cos., Inc. (The) - Class A   9,711    2,119,426 
         3,472,290 
Retail - Consumer Staples - 2.2%          
Costco Wholesale Corp.   5,441    1,931,555 
Ollie's Bargain Outlet Holdings, Inc. (a)   15,903    1,389,127 
         3,320,682 

 

 

 

SEGALL BRYANT & HAMILL ALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.1% (Continued)  Shares  Value
Energy - 0.7%          
Oil & Gas Producers - 0.7%          
Noble Energy, Inc.   129,122   $1,103,993 
           
Financials - 10.1%          
Asset Management - 1.6%          
Ares Management Corp. - Class A   57,766    2,334,901 
           
Banking - 3.0%          
First Republic Bank   17,536    1,912,476 
JPMorgan Chase & Co.   26,254    2,527,473 
         4,439,949 
Insurance - 5.5%          
Aon PLC - Class A (Ireland)   11,207    2,312,004 
Berkshire Hathaway, Inc. - Class B (a)   8,105    1,725,879 
Globe Life, Inc.   28,512    2,278,109 
Reinsurance Group of America, Inc.   19,454    1,851,826 
         8,167,818 
Health Care - 18.3%          
Biotech & Pharma - 3.2%          
Novartis A.G. ADR (Switzerland)   22,960    1,996,601 
Zoetis, Inc.   16,727    2,766,144 
         4,762,745 
Health Care Facilities & Services - 4.8%          
Catalent, Inc. (a)   23,138    1,982,001 
Charles River Laboratories International, Inc. (a)   9,354    2,118,214 
UnitedHealth Group, Inc.   9,525    2,969,609 
         7,069,824 
Medical Equipment & Devices - 10.3%          
Abbott Laboratories   20,521    2,233,300 
Alcon, Inc. (Switzerland) (a)   35,161    2,002,419 
Baxter International, Inc.   20,371    1,638,236 
Bio-Techne Corp.   6,195    1,534,687 
Danaher Corp.   15,750    3,391,448 
Mettler-Toledo International, Inc. (a)   2,082    2,010,691 
Thermo Fisher Scientific, Inc.   5,657    2,497,679 
         15,308,460 

 

 

 

SEGALL BRYANT & HAMILL ALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.1% (Continued)  Shares  Value
Industrials - 9.2%          
Aerospace & Defense - 1.0%          
L3Harris Technologies, Inc.   8,760   $1,487,798 
           
Commercial Support Services - 1.5%          
Cintas Corp.   6,878    2,289,205 
           
Electrical Equipment - 2.8%          
Keysight Technologies, Inc. (a)   19,123    1,888,970 
Roper Technologies, Inc.   5,921    2,339,446 
         4,228,416 
Engineering & Construction - 2.5%          
Quanta Services, Inc.   70,486    3,725,890 
           
Transportation & Logistics - 1.4%          
Kansas City Southern   11,085    2,004,501 
           
Materials - 7.0%          
Chemicals - 5.6%          
Air Products & Chemicals, Inc.   5,088    1,515,512 
Avery Dennison Corp.   16,320    2,086,349 
FMC Corp.   28,845    3,054,974 
Sherwin-Williams Co. (The)   2,340    1,630,371 
         8,287,206 
Metals & Mining - 1.4%          
Franco-Nevada Corp. (Canada)   15,110    2,109,054 
           
Technology - 27.2%          
Semiconductors - 5.9%          
Marvell Technology Group, Ltd. (Bermuda)   105,098    4,172,391 
Monolithic Power Systems, Inc.   9,619    2,689,568 
NXP Semiconductors N.V. (Netherlands)   15,466    1,930,311 
         8,792,270 
Software - 10.2%          
Adobe, Inc. (a)   6,940    3,403,584 
Autodesk, Inc. (a)   6,161    1,423,253 
Microsoft Corp.   32,045    6,740,025 

 

 

 

SEGALL BRYANT & HAMILL ALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.1% (Continued)  Shares  Value
Technology - 27.2% (Continued)          
Software - 10.2% (Continued)          
ServiceNow, Inc. (a)   7,405   $3,591,425 
         15,158,287 
Technology Hardware - 4.2%          
Apple, Inc.   31,295    3,624,274 
Zebra Technologies Corp. - Class A (a)   10,137    2,559,187 
         6,183,461 
Technology Services - 6.9%          
CoStar Group, Inc. (a)   1,767    1,499,317 
IHS Markit, Ltd.   31,763    2,493,713 
S&P Global, Inc.   6,805    2,453,883 
Visa, Inc. - Class A   19,380    3,875,419 
         10,322,332 
           
Investments at Value - 97.1% (Cost $97,227,505)       $144,203,613 
           
Other Assets in Excess of Liabilities - 2.9%        4,262,772 
           
Net Assets - 100.0%       $148,466,385 

 

(a) Non-income producing security.

 

The Fund's sector and industry classifications presented herein refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. For Fund compliance purposes, sector and industry classifications are based on the sector and industry categorization methodology of the Adviser to the Funds. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

 

See notes to Quarterly Statements of Investments.

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS
September 30, 2020 (Unaudited)
 
COMMON STOCKS - 97.3%  Shares   Value 
Communications - 13.8%          
Entertainment Content - 0.7%          
Astro Malaysia Holdings Bhd (Malaysia)   145,100   $26,957 
BAIOO Family Interactive, Ltd. (China)   324,000    45,410 
DoubleUGames Co., Ltd. (South Korea)   558    35,556 
International Games System Co., Ltd. (Taiwan)   3,000    80,362 
Sun TV Network, Ltd. (India)   5,400    34,324 
         222,609 
Internet Media & Services - 6.9%          
KGInicis Co., Ltd. (South Korea)   755    13,161 
Naspers, Ltd. - N Shares (South Africa) (a)   2,038    359,938 
Tencent Holdings, Ltd. (China)   25,600    1,729,115 
Yandex N.V. - Class A (Russia) (a)   505    32,748 
         2,134,962 
Publishing & Broadcasting - 1.1%          
Chinese Universe Publishing and Media Group Co., Ltd. - Class A (China)   97,900    168,785 
DB Corp., Ltd. (India)   6,711    7,129 
Jagran Prakashan, Ltd. (India) (a)   43,811    22,217 
KT Skylife Co., Ltd. (South Korea)   9,481    75,634 
Media Nusantara Citra Tbk P.T. (Indonesia) (a)   1,768,900    86,087 
         359,852 
Telecommunications - 5.1%          
América Móvil S.A.B. de C.V. - Class L ADR (Mexico)   2,300    28,727 
APT Satellite Holdings, Ltd. (China)   118,000    31,071 
China Mobile, Ltd. (China)   72,000    462,190 
China Telecom Corp., Ltd. (China)   168,000    50,475 
China Unicom Hong Kong, Ltd. (China)   198,000    129,966 
Etihad Etisalat Co. (Saudi Arabia) (a)   1,966    14,990 
Globe Telecom, Inc. (Philippines)   2,825    121,148 
Hellenic Telecommunications Organization S.A. (Greece)   4,121    59,360 
KT Corp. ADR (South Korea)   13,000    124,930 
LG Uplus Corp. (South Korea)   2,351    23,166 
Megacable Holdings S.A.B de C.V. (Mexico)   6,300    18,227 
MTN Group, Ltd. (South Africa)   24,148    81,015 
Ooredoo Q.P.S.C. (Qatar)   20,449    37,684 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares   Value 
Communications - 13.8% (Continued)          
Telecommunications - 5.1% (Continued)          
Saudi Telecom Co. (Saudi Arabia)   5,177   $138,826 
SK Telecom Co., Ltd. ADR (South Korea)   4,500    100,890 
Telekom Malaysia Bhd (Malaysia)   69,300    69,033 
TIM Participacoes S.A. ADR (Brazil)   1,300    14,989 
Turk Telekomunikasyon A.S. (Turkey)   19,484    17,873 
Turkcell Iletisim Hizmetleri A.S. ADR (Turkey)   4,100    19,639 
Vodacom Group, Ltd. (South Africa)   4,166    30,549 
         1,574,748 
Consumer Discretionary - 15.1%          
Apparel & Textile Products - 1.3%          
361 Degrees International, Ltd. (China) (a)   639,000    82,030 
Cowell Fashion Co., Ltd. (South Korea)   7,878    41,613 
Handsome Co., Ltd. (South Korea)   1,313    33,965 
KPR Mill, Ltd. (India)   14,657    130,225 
Xingda International Holdings, Ltd. (China)   407,000    100,640 
         388,473 
Automotive - 0.9%          
Geely Automobile Holdings, Ltd. (China)   12,000    24,073 
Kia Motors Corp. (South Korea)   4,367    175,643 
Sundaram-Clayton, Ltd. (India)   484    10,682 
Tupy S.A. (Brazil) (a)   20,000    61,857 
         272,255 
E-Commerce Discretionary - 9.0%          
Alibaba Group Holding, Ltd. ADR (China) (a)   8,000    2,351,840 
China Literature, Ltd. (China) (a)   24    181 
Meituan Dianping (China) (a)   7,500    236,260 
Vipshop Holdings, Ltd. ADR (China) (a)   13,500    211,140 
         2,799,421 
Home & Office Products - 0.9%          
Hisense Home Appliances Group Co., Ltd. - H Shares (China)   46,000    57,030 
Suofeiya Home Collection Co., Ltd. - Class A (China)   36,500    142,310 
Vestel Beyaz Esya Sanayi ve Ticaret A.S. (Turkey)   23,667    85,800 
         285,140 
Home Construction - 0.2%          
Dom Development S.A. (Poland)   1,465    38,690 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares   Value 
Consumer Discretionary - 15.1% (Continued)          
Home Construction - 0.2% (Continued)          
Dynasty Ceramic PCL (Thailand)   284,900   $22,600 
Noble Development PCL (Thailand)   19,700    11,738 
         73,028 
Leisure Products - 0.1%          
GOLFZON Co., Ltd. (South Korea)   320    17,977 
           
Retail - Discretionary - 2.3%          
China Dongxiang Group Co., Ltd. (China)   465,000    57,920 
China Harmony New Energy Auto Holding, Ltd. (China)   207,500    82,457 
GS Home Shopping, Inc. (South Korea)   292    32,312 
LOTTE Himart Co., Ltd. (South Korea)   2,171    56,242 
Mitra Pinasthika Mustika Tbk P.T. (Indonesia)   236,300    6,147 
Oriental Holdings Bhd (Malaysia)   46,400    57,714 
Shanghai Yuyuan Tourist Mart Group Co., Ltd. - Class A (China)   74,000    96,466 
Sime Darby Bhd (Malaysia)   87,800    52,729 
Zhongsheng Group Holdings, Ltd. (China)   45,000    283,074 
         725,061 
Wholesale - Discretionary - 0.4%          
Xinhua Winshare Publishing and Media Co., Ltd. - H Shares (China)   204,000    128,947 
           
Consumer Staples - 5.7%          
Beverages - 0.8%          
Arca Continental S.A.B. de C.V. (Mexico)   14,300    61,585 
Embotelladora Andina S.A. - Class B ADR (Chile)   900    11,700 
Hey Song Corp. (Taiwan)   29,000    32,376 
LT Group, Inc. (Philippines)   121,500    22,635 
Tingyi Holding Corp. (China)   60,000    106,242 
         234,538 
Food - 3.9%          
Balrampur Chini Mills, Ltd. (India)   77,196    163,528 
Century Pacific Food, Inc. (Philippines)   84,432    29,920 
Charoen Pokphand Foods PCL (Thailand)   52,900    47,013 
Cia Pesquera Camanchaca S.A. (Chile)   241,136    17,140 
CJ CheilJedang Corp. (South Korea)   160    54,166 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares  Value
Consumer Staples - 5.7% (Continued)          
Food - 3.9% (Continued)          
CJ Corp. (South Korea)   224   $15,600 
Daesang Corp. (South Korea)   1,095    24,435 
Daesang Holdings Co., Ltd. (South Korea)   3,702    31,715 
Indofood Sukses Makmur Tbk P.T. (Indonesia)   30,800    14,869 
JBS S.A. (Brazil)   10,700    39,381 
Jiangxi Zhengbang Technology Co., Ltd. - Class A (China)   31,100    83,561 
Marfrig Global Foods S.A. (Brazil) (a)   13,800    37,472 
Minerva S.A. (Brazil) (a)   32,100    67,730 
Muyuan Foods Co., Ltd. - Class A (China)   12,920    141,345 
New Hope Liuhe Co., Ltd. - Class A (China)   3,600    14,734 
Oceana Group, Ltd. (South Africa)   13,109    48,520 
Orion Holdings Corp. (South Korea)   11,790    122,760 
Sarawak Oil Palms Bhd (Malaysia)   62,500    53,678 
SLC Agricola S.A. (Brazil)   7,700    35,290 
Thai Vegetable Oil PCL (Thailand)   67,800    70,426 
Tunas Baru Lampung Tbk P.T. (Indonesia)   2,049,052    101,777 
         1,215,060 
Household Products - 0.7%          
Hengan International Group Co., Ltd. (China)   15,500    113,461 
Vinda International Holdings, Ltd. (China)   30,000    98,839 
         212,300 
Retail - Consumer Staples - 0.3%          
Cosco Capital, Inc. (Philippines)   634,600    67,064 
Organizacion Soriana S.A.B. de C.V. - Class B (Mexico) (a)   48,000    32,382 
         99,446 
Energy - 3.9%          
Oil & Gas Producers - 3.1%          
Bashneft PJSC (Russia)   6,030    127,693 
Bumi Armada Bhd (Malaysia) (a)   280,100    17,277 
Cosan S.A. (Brazil)   1,600    19,467 
Dogan Sirketler Grubu Holdings A.S. (Turkey)   85,251    26,050 
Enauta Participacoes S.A. (Brazil)   15,100    26,026 
GAIL India, Ltd. GDR (India) (b)   2,082    14,699 
Hindustan Petroleum Corp., Ltd. (India)   14,830    36,391 
Indian Oil Corp., Ltd. (India)   35,040    35,215 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares  Value
Energy - 3.9% (Continued)          
Oil & Gas Producers - 3.1% (Continued)          
Medco Energi Internasional Tbk P.T. (Indonesia) (a)   343,680   $7,862 
Petrobras Distribuidora S.A. (Brazil)   3,900    13,993 
Petronas Gas Bhd (Malaysia)   4,100    16,258 
Petronet LNG, Ltd. (India)   22,080    66,319 
Polskie Gornictwo Naftowe i Gazownictwo S.A. (Poland)   37,375    48,888 
PTT Exploration & Production PCL (Thailand)   40,500    101,597 
PTT PCL (Thailand)   19,500    19,843 
Reliance Industries, Ltd. GDR 144A (India) (c)   1,900    115,079 
Saudi Arabian Oil Co. (Saudi Arabia)   2,838    27,180 
SK Gas, Ltd. (South Korea)   286    23,919 
Surgutneftegas PJSC (Russia)   337,100    149,951 
Transeft PJSC (Russia) (a)   35    66,461 
         960,168 
Renewable Energy - 0.8%          
Chaowei Power Holdings, Ltd. (China)   162,000    60,233 
Sao Martinho S.A. (Brazil)   8,800    34,127 
Tianneng Power International, Ltd. (China)   78,000    140,146 
         234,506 
Financials - 17.0%          
Asset Management - 0.6%          
GF Securities Co., Ltd. - H Shares (China)   49,600    63,109 
Reinet Investments SCA (South Africa)   7,207    124,986 
         188,095 
Banking - 9.5%          
Agricultural Bank of China, Ltd. - H Shares (China)   706,000    221,512 
AMMB Holdings Bhd (Malaysia)   39,500    28,593 
Banco ABC Brasil S.A. (Brazil)   5,400    11,288 
Banco Bradesco S.A. (Brazil)   17,622    56,541 
Banco do Brasil S.A. (Brazil)   42,000    221,509 
Banestes S.A. Banco do Estado do Espirito Santo (Brazil)   33,300    29,587 
Bank Al-Jazira (Saudi Arabia)   18,074    67,658 
Bank CIMB Niaga Tbk P.T. (Indonesia)   1,080,900    52,548 
Bank of Ayudhya PCL (Thailand)   15,113    9,335 
Bank of Beijing Co., Ltd. - Class A (China)   32,600    22,518 
Bank of China, Ltd. - H Shares (China)   314,000    97,661 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares  Value
Financials - 17.0% (Continued)          
Banking - 9.5% (Continued)          
Bank of Chongqing Co., Ltd. - H Shares (China)   35,500   $18,436 
Bank of Greece (Greece)   1,087    16,585 
Bank Pembangunan Daerah Jawa Timur Tbk P.T. (Indonesia)   1,492,700    51,310 
China CITIC Bank Corp., Ltd. - H Shares (China)   129,000    49,993 
China Construction Bank Corp. - H Shares (China)   186,000    120,858 
China Everbright Bank Co., Ltd. - H Shares (China)   117,000    37,002 
China Minsheng Banking Corp., Ltd. - Class A (China)   210,232    164,451 
China Minsheng Banking Corp., Ltd. - H Shares (China)   306,500    161,049 
Commercial Bank P.S.Q.C (The) (Qatar)   78,616    87,842 
Dubai Islamic Bank PJSC (United Arab Emirates)   51,922    61,227 
East West Banking Corp. (Philippines) (a)   86,689    15,437 
Emirates NBD Bank PJSC (United Arab Emirates)   31,351    91,569 
EnTie Commercial Bank Co., Ltd. (Taiwan)   71,000    35,226 
Faisal Islamic Bank of Egypt (Egypt)   24,143    17,019 
Haci Omer Sabanci Holding A.S. (Turkey)   19,283    20,685 
Hana Financial Group, Inc. (South Korea)   4,703    113,315 
Hong Leong Financial Group Bhd (Malaysia)   10,200    35,201 
Huishang Bank Corp., Ltd. - H Shares (China)   127,000    41,861 
Industrial & Commercial Bank of China, Ltd. - H Shares (China)   270,000    140,642 
JB Financial Group Co., Ltd. (South Korea)   13,180    50,949 
Jointown Pharmaceutical Group Co., Ltd. - Class A (China) (a)   6,100    15,219 
KB Financial Group, Inc. ADR (South Korea)   4,700    150,964 
King's Town Bank Co., Ltd. (Taiwan)   28,000    35,972 
Masraf Al Rayan Q.S.C. (Qatar)   43,633    49,975 
National Commercial Bank (Saudi Arabia) (a)   19,553    194,236 
Regional S.A.B. de C.V. (Mexico) (a)   10,800    25,615 
Riyad Bank (Saudi Arabia)   5,036    25,099 
Sberbank of Russia PJSC (Russia) (a)   67,400    197,160 
Shandong Buchang Pharmaceuticals Co., Ltd. - Class A (China)   4,200    15,454 
Shinhan Financial Group Co., Ltd. ADR (South Korea)   600    13,782 
Thanachart Capital PCL (Thailand)   78,100    72,075 
VTB Bank PJSC (Russia) (a)   31,450,000    13,924 
         2,958,882 
Institutional Financial Services - 0.9%          
China Galaxy Securities Co., Ltd. - H Shares (China)   38,500    21,791 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares  Value
Financials - 17.0% (Continued)          
Institutional Financial Services - 0.9% (Continued)          
Corporacion Financiera Colombiana S.A. (Colombia) (a)   14,940   $103,848 
Hyundai Motor Securities Co., Ltd. (South Korea)   1,416    12,226 
Jih Sun Financial Holding Co., Ltd. (Taiwan)   103,373    39,410 
Tata Investment Corp., Ltd. (India)   4,663    53,577 
Yuanta Financial Holding Co., Ltd. (Taiwan)   91,000    56,396 
         287,248 
Insurance - 3.3%          
Bangkok Life Assurance PCL (Thailand)   28,229    15,810 
Cathay Financial Holding Co., Ltd. (Taiwan)   64,000    85,762 
Central Reinsurance Co., Ltd. (Taiwan)   52,000    36,511 
China Life Insurance Co., Ltd. (Taiwan)   59,000    40,767 
Fubon Financial Holdings Co., Ltd. (Taiwan)   56,000    81,565 
Mercuries & Associates Holding, Ltd. (Taiwan)   19,000    14,251 
Meritz Financial Group, Inc. (South Korea)   1,702    13,277 
Momentum Metropolitan Holdings (South Africa)   23,945    22,157 
New China Life Insurance Co., Ltd. - H Shares (China)   49,400    185,701 
People's Insurance Co. Group of China (The) - H Shares (China)   570,000    169,626 
PICC Property & Casualty Co., Ltd. - H Shares (China)   158,000    110,989 
Ping An Insurance Group Co. of China, Ltd. - H Shares (China)   2,500    25,952 
Powszechny Zaklad Ubezpieczen S.A. (Poland) (a)   10,346    66,380 
Shin Kong Financial Holding Co., Ltd. (Taiwan)   167,000    46,713 
Shinkong Insurance Co., Ltd. (Taiwan)   66,000    80,062 
Wiz Solucoes e Corretagem de Seguros S.A. (Brazil)   10,000    16,363 
         1,011,886 
Specialty Finance - 2.7%          
Adira Dinamika Multi Finance Tbk P.T. (Indonesia)   123,700    60,317 
Concentradora Hipotecaria SAPI de C.V. (Mexico)   61,600    48,710 
Credito Real S.A.B. de C.V. Sofom ER (Mexico) (a)   52,000    25,729 
LIC Housing Finance, Ltd. (India)   2,804    10,571 
Malaysia Building Society Bhd (Malaysia)   430,500    52,977 
Manappuram Finance, Ltd. (India)   22,829    49,120 
Muthoot Finance, Ltd. (India)   19,021    294,060 
Old Mutual, Ltd. (South Africa)   34,688    21,380 
Oracle Financial Services Software, Ltd. (India)   673    28,150 
Power Finance Corp., Ltd. (India)   57,087    67,110 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares  Value
Financials - 17.0% (Continued)          
Specialty Finance - 2.7% (Continued)          
REC, Ltd. (India)   128,352   $173,375 
Wisdom Marine Lines Co., Ltd. (Taiwan) (a)   401    303 
         831,802 
Health Care - 3.8%          
Biotech & Pharma - 3.1%          
Aurobindo Pharma, Ltd. (India)   2,282    24,696 
Celltrion, Inc. (South Korea) (a)   322    71,038 
Chemical Works of Gedeon Richter PLC (Hungary)   631    13,317 
China Medical System Holdings, Ltd. (China)   207,000    229,051 
China Traditional Chinese Medicine Holdings Co., Ltd. (China)   66,000    27,738 
Chongkundang Holdings Corp. (South Korea)   911    83,080 
FDC, Ltd. (India)   14,290    69,270 
Glenmark Pharmaceuticals, Ltd. (India)   9,909    65,119 
Hypera S.A. (Brazil)   18,600    98,395 
Jubilant Life Sciences, Ltd. (India)   5,850    58,278 
SCI Pharmtech, Inc. (Taiwan)   5,000    20,914 
Seegene, Inc. (South Korea)   132    29,478 
Shandong Xinhua Pharmaceutical Co., Ltd. - H Shares (China)   306,714    150,098 
Zhejiang NHU Co., Ltd. - Class A (China)   5,400    23,800 
         964,272 
Health Care Facilities & Services - 0.5%          
Notre Dame Intermedica Participacoes S.A. (Brazil)   1,600    18,535 
Ruentex Industries, Ltd. (Taiwan)   13,000    29,191 
Sinopharm Group Co., Ltd. - H Shares (China)   40,000    84,528 
Tempo Scan Pacific Tbk P.T. (Indonesia)   162,500    14,032 
         146,286 
Medical Equipment & Devices - 0.1%          
BGI Genomics Co., Ltd. (China) (a)   1,000    21,288 
TaiDoc Technology Corp. (Taiwan)   3,000    19,943 
         41,231 
Pharmaceuticals, Biotechnology & Life Sciences - 0.1%          
CSPC Pharmaceutical Group, Ltd. (China)   14,000    27,329 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares  Value
Industrials - 4.9%          
Aerospace & Defense - 0.1%          
Bharat Electronics, Ltd. (India)   18,411   $24,024 
           
Electrical Equipment - 0.4%          
Sunonwealth Electric Machine Industry Co., Ltd. (Taiwan)   12,000    25,938 
Thinking Electronic Industrial Co., Ltd. (Taiwan)   5,000    17,211 
Wasion Holdings, Ltd. (China)   276,000    77,706 
         120,855 
Engineering & Construction - 1.0%          
Acter Group Corp., Ltd. (Taiwan)   4,000    26,388 
Beijing Urban Construction Design & Development Group Co., Ltd. - H Shares (China) (a)   81,000    21,171 
Bharti Infratel, Ltd. (India)   14,092    33,645 
China Railway Construction Corp., Ltd. - H Shares (China)   30,500    21,097 
China Railway Group, Ltd. - H Shares (China)   56,000    26,455 
Daelim Contruction Co., Ltd. (South Korea)   811    16,789 
Daelim Industrial Co., Ltd. (South Korea)   1,345    89,158 
Dongwon Development Co., Ltd. (South Korea)   3,882    13,241 
Engineers India, Ltd. (India)   11,607    10,164 
GS Engineering & Construction Corp. (South Korea)   658    13,594 
KEPCO Plant Service & Engine Co., Ltd. (South Korea)   586    13,600 
Kumho Industrial Co., Ltd. (South Korea)   2,081    11,782 
         297,084 
Industrial Conglomerates - 0.0%(d)          
China Metal Recycling Holdings, Ltd. (China) (a) (e)   6,000    0 
           
Industrial Intermediate Products - 0.6%          
Catcher Technology Co., Ltd. (Taiwan)   6,000    37,948 
Nan Liu Enterprise Co., Ltd. (Taiwan)   2,000    16,244 
Saha-Union PCL (Thailand)   12,000    12,798 
Shinkong Synthetic Fibers Corp. (Taiwan)   49,000    18,646 
Sri Trang Agro-Industry PCL (Thailand)   67,900    57,277 
Supermax Corp. Bhd (Malaysia) (a)   26,600    54,206 
         197,119 
Industrial Support Services - 0.2%          
LG International Corp. (South Korea)   1,331    17,597 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares  Value
Industrials - 4.9% (Continued)          
Industrial Support Services - 0.2% (Continued)          
Topco Scientific Co., Ltd. (Taiwan)   5,000   $19,847 
United Tractors Tbk P.T. (Indonesia)   21,900    33,680 
         71,124 
Machinery - 0.5%          
Lonking Holdings, Ltd. (China)   50,000    13,327 
Sany Heavy Industry Co., Ltd. - Class A (China)   13,800    50,847 
WEG S.A. (Brazil)   1,300    15,136 
Zhengzhou Coal Mining Machinery Group Co., Ltd. - H Shares (China)   71,200    77,030 
         156,340 
Transportation & Logistics - 0.8%          
China Merchants Energy Shipping Co., Ltd. - Class A (China)   54,900    46,757 
COSCO SHIPPING Energy Transportation Co., Ltd. - H Shares (China)   66,000    27,529 
Evergreen Marine Corp. Taiwan, Ltd. (Taiwan) (a)   59,000    32,559 
Great Eastern Shipping Co., Ltd. (The) (India)   5,739    18,352 
Gujarat Pipavav Port, Ltd. (India)   16,116    18,108 
Lingkaran Trans Kota Holdings Bhd (Malaysia)   14,900    14,294 
MMC Corp. Bhd (Malaysia)   136,600    24,313 
Samyang Foods Co., Ltd. (South Korea)   277    23,541 
Shipping Corp. of India, Ltd. (India)   39,924    28,583 
         234,036 
Transportation Equipment - 1.3%          
Qingling Motors Co., Ltd. - H Shares (China)   596,000    104,144 
Sinotruk Hong Kong, Ltd. (China)   108,000    278,335 
Weichai Power Co., Ltd. - Class A (China)   11,200    25,002 
         407,481 
Materials - 10.8%          
Chemicals - 2.8%          
ALFA S.A.B de C.V. - Class A (Mexico)   81,500    50,452 
Chambal Fertilisers and Chemicals, Ltd. (India)   9,449    20,293 
China Lumena New Materials Corp. (China) (a) (e)   1,700    0 
GHCL, Ltd. (India)   14,964    32,374 
Gujarat Alkalies & Chemicals, Ltd. (India)   3,456    15,557 
HDC Holdings Co., Ltd. (South Korea)   1,989    18,014 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares  Value
Materials - 10.8% (Continued)          
Chemicals - 2.8% (Continued)          
Kaveri Seed Co., Ltd. (India) (a)   9,533   $69,043 
Kingboard Holdings, Ltd. (China)   32,000    105,869 
Kolon Industries, Inc. (South Korea)   614    19,827 
Korea Petrochemcial Industry Co., Ltd. (South Korea)   286    40,800 
Kukdo Chemical Co., Ltd. (South Korea)   499    18,970 
Kumho Petrochemical Co., Ltd. (South Korea)   394    37,072 
LOTTE Fine Chemical Co., Ltd. (South Korea)   423    17,981 
Nizhnekamskneftekhim PJSC (Russia)   39,245    44,585 
Samba Financial Group (Saudi Arabia)   21,916    157,639 
Saudi Industrial Investment Group (Saudi Arabia)   26,293    163,407 
Soulbrain Holdings Co., Ltd. (South Korea)   395    15,418 
Tata Chemicals, Ltd. (India)   3,803    15,565 
Unid Co., Ltd. (South Korea)   439    16,818 
         859,684 
Construction Materials - 2.8%          
Anhui Conch Cement Co., Ltd. - Class A (China)   8,300    67,937 
Anhui Conch Cement Co., Ltd. - H Shares (China)   13,500    93,505 
Asia Cement Corp. (Taiwan)   96,000    138,456 
Chia Hsin Cement Corp. (Taiwan)   31,000    16,897 
China Lesso Group Holdings, Ltd. (China)   69,000    125,314 
China Maple Leaf Educational Systems, Ltd. (China) (a)   220,000    66,223 
China National Building Material Co., Ltd. - H Shares (China)   84,000    107,054 
China Resources Cement Holdings, Ltd. (China)   28,000    38,493 
Hanil Holdings Co., Ltd. (South Korea)   405    15,343 
Taiwan Cement Corp. (Taiwan)   123,098    177,278 
Tipco Asphalt PCL (Thailand)   28,500    13,755 
West China Cement, Ltd. (China)   166,000    24,569 
         884,824 
Containers & Packaging - 0.1%          
Balmer Lawrie & Co., Ltd. (India)   18,468    25,101 
           
Forestry, Paper & Wood Products - 0.2%          
Hansol Paper Co., Ltd. (South Korea)   2,136    25,518 
YFY, Inc. (Taiwan)   86,000    51,361 
         76,879 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares  Value
Materials - 10.8% (Continued)          
Metals & Mining - 4.8%          
Adaro Energy Tbk P.T. (Indonesia)   411,600   $31,643 
AngloGold Ashanti, Ltd. ADR (South Africa)   4,000    105,520 
Bukit Asam Tbk P.T. (Indonesia)   123,800    16,529 
China Coal Energy Co., Ltd. - H Shares (China)   77,000    18,864 
China Shenhua Energy Co., Ltd. - H Shares (China)   39,000    69,999 
Coal India, Ltd. (India)   85,931    135,956 
Exxaro Resources, Ltd. (South Africa)   10,669    79,039 
Grupa Kety S.A. (Poland)   197    23,419 
Grupo Industrial Saltillo S.A.B. de C.V. (Mexico) (a)   16,071    13,253 
Grupo Mexico S.A.B de C.V. - Series B (Mexico)   36,100    91,756 
Harmony Gold Mining Co., Ltd. ADR (South Africa) (a)   4,500    23,715 
Hindustan Zinc, Ltd. (India)   6,027    17,235 
Impala Platinum Holdings, Ltd. (South Africa)   8,642    75,083 
KGHM Polska Miedz S.A. (Poland) (a)   902    27,598 
Lubelski Wegiel Bogdanka S.A. (Poland) (a)   7,565    37,009 
MMC Norilsk Nickel PJSC (Russia)   548    132,368 
National Aluminium Co., Ltd. (India)   33,617    14,772 
Nickel Asia Corp. (Philippines)   503,000    31,006 
NMDC, Ltd. (India)   48,687    54,693 
Semirara Mining & Power Corp. (Philippines)   72,800    15,008 
Shaanxi Coal Industry Co., Ltd. - Class A (China)   21,200    26,312 
Sibanye-Stillwater, Ltd. ADR (South Africa)   5,100    56,814 
Sociedad Minera Cerro Verde S.A.A. (Peru) (a)   2,013    36,033 
Vale S.A. ADR (Brazil)   23,774    251,529 
Yanzhou Coal Mining Co., Ltd. - Class A (China)   14,700    20,126 
Yanzhou Coal Mining Co., Ltd. - H Shares (China)   76,000    56,795 
Zaklady Tluszczowe Kruszwica S.A. (Poland)   1,022    14,021 
         1,476,095 
Steel - 0.1%          
Empresa Siderurgica del Peru S.A.A. (Peru)   48,455    9,008 
Posco International Corp. (South Korea)   1,638    18,760 
Xiwang Special Steel Co., Ltd. (China) (a)   96,000    5,620 
         33,388 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares  Value
Real Estate - 3.5%          
Real Estate Owners & Developers - 3.4%          
China Aoyuan Group, Ltd. (China)   130,000   $133,985 
China Overseas Grand Oceans Group, Ltd. (China)   22,000    12,649 
Country Garden Holdings Co., Ltd. (China)   89,000    110,202 
Develia S.A. (Poland)   27,225    12,232 
Gemdale Corp. - Class A (China)   9,600    20,692 
Greenland Holdings Corp., Ltd. - Class A (China)   16,300    15,382 
Jaya Real Property Tbk P.T. (Indonesia)   322,300    8,941 
Jinke Property Group Co., Ltd. - Class A (China)   16,900    22,626 
Kaisa Group Holdings, Ltd. (China) (a)   40,000    20,581 
KWG Group Holdings, Ltd. (China)   37,000    63,115 
L.P.N. Development PCL (Thailand)   72,500    9,563 
Logan Group Co., Ltd. (China)   40,000    63,648 
Matrix Concepts Holdings Bhd (Malaysia)   99,375    40,968 
Origin Property PCL (Thailand)   69,600    13,950 
OSK Holdings Bhd (Malaysia)   241,800    42,555 
Poly Developments and Holdings Group Co., Ltd. - Class A (China)   9,000    21,190 
RiseSun Real Estate Development Co., Ltd. - Class A (China)   13,300    15,006 
Seazen Group, Ltd. (China) (a)   46,000    39,184 
Shanghai Industrial Holdings, Ltd. (China)   8,000    10,703 
Shanghai Industrial Urban Development Group, Ltd. (China)   1,600    154 
Shenzhen Overseas Chinese Town Co., Ltd. - Class A (China)   309,000    309,703 
Sunac China Holdings, Ltd. (China)   8,000    31,518 
Supalai PCL (Thailand)   23,200    11,403 
Times China Holdings, Ltd. (China)   28,000    39,051 
         1,069,001 
Reit - 0.1%          
Delta Property Fund, Ltd. (South Africa)   267,778    3,625 
Macquarie Mexico Real Estate Management S.A. de C.V. (Mexico)   15,000    18,408 
         22,033 
Technology - 16.5%          
Semiconductors - 6.5%          
ASE Industrial Holding Co., Ltd. ADR (Taiwan)   9,700    39,576 
Chipbond Technology Corp. (Taiwan)   18,000    39,708 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares  Value
Technology - 16.5% (Continued)          
Semiconductors - 6.5% (Continued)          
ChipMOS Technologies, Inc. (Taiwan)   15,000   $14,913 
DB HiTek Co., Ltd. (South Korea)   593    19,055 
Elan Microelectronics Corp. (Taiwan)   5,000    25,343 
GlobalWafers Co., Ltd. (Taiwan)   8,000    107,146 
King Yuan Electronics Co., Ltd. (Taiwan)   22,000    23,337 
Powertech Technology, Inc. (Taiwan)   41,000    123,417 
Quanta Computer, Inc. (Taiwan)   24,000    63,084 
Sino-American Silicon Products, Inc. (Taiwan)   6,000    20,232 
SK Hynix, Inc. (South Korea)   474    34,078 
Taiwan Semiconductor Manufacturing Co., Ltd. ADR (Taiwan)   17,500    1,418,725 
United Microelectronics Corp. (Taiwan)   84,000    82,936 
         2,011,550 
Software - 0.1%          
eClerx Services, Ltd. (India)   1,857    17,763 
Hancom, Inc. (South Korea)   1,043    16,906 
         34,669 
Technology Hardware - 8.2%          
AsusTek Computer, Inc. (Taiwan)   7,000    61,647 
BYD Electronic International Co., Ltd. (China)   44,500    225,839 
Chicony Electronics Co., Ltd. (Taiwan)   11,000    32,144 
Chicony Power Technology Co., Ltd. (Taiwan)   13,000    29,997 
Hon Hai Precision Industry Co., Ltd. (Taiwan)   78,000    209,907 
LG Electronics, Inc. (South Korea)   1,337    105,041 
LG Innotek Co., Ltd. (South Korea)   137    18,133 
Lite-On Technology Corp. (Taiwan)   32,000    51,304 
PAX Global Technology, Ltd. (China)   268,000    161,490 
Pegatron Corp. (Taiwan)   36,000    80,012 
Redington India, Ltd. (India)   14,224    22,911 
Samsung Electronics Co., Ltd. (South Korea)   19,503    971,075 
SIMMTECH Co., Ltd. (South Korea)   1,139    17,753 
Skyworth Group, Ltd. (China) (a)   183,469    53,013 
Spigen Korea Co., Ltd. (South Korea)   576    33,890 
Synnex Technology International Corp. (Taiwan)   25,000    35,858 
Taiwan PCB Techvest Co., Ltd. (Taiwan)   16,000    21,831 
TechWing, Inc. (South Korea)   1,095    18,101 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares  Value
Technology - 16.5% (Continued)          
Technology Hardware - 8.2% (Continued)          
Tonly Electronics Holdings, Ltd. (China)   49,000   $56,397 
Tripod Technology Corp. (Taiwan)   12,000    46,041 
Wistron Corp. (Taiwan)   203,000    210,729 
Zhen Ding Technology Holdings, Ltd. (Taiwan)   19,000    83,479 
         2,546,592 
Technology Services - 1.7%          
Firstsource Solutions, Ltd. (India)   58,450    58,004 
HCL Technologies, Ltd. (India)   34,192    377,898 
Ju Teng International Holdings, Ltd. (China)   118,000    35,565 
Persistent Systems, Ltd. (India)   1,290    23,538 
Wipro, Ltd. ADR (India)   6,100    28,670 
         523,675 
Utilities - 2.3%          
Electric Utilities - 1.6%          
AES Gener S.A. (Chile) (a)   87,831    13,537 
Centrais Eletricas Brasileiras S.A. (Brazil)   3,300    17,816 
China Longyuan Power Group Co., Ltd. - H Shares (China)   30,000    18,849 
China Resources Power Holdings Co., Ltd. (China)   54,000    59,892 
Enel Americas S.A. ADR (Chile)   10,021    64,736 
Enel Chile S.A. ADR (Chile)   7    24 
Engie Energia Chile S.A. (Chile)   10,046    12,502 
Even Construtora e Incorporadora S.A. (Brazil)   13,900    27,373 
Federal Grid Co. Unified Energy System PJSC (Russia)   6,680,000    16,952 
Gunkul Engineering PCL (Thailand)   336,000    23,961 
IDGC of Centre and Volga Region PJSC (Russia)   5,730,000    16,178 
Korea Electric Power Corp. (South Korea) (a)   1,130    19,747 
Lopez Holdings Corp. (Philippines) (a)   184,000    8,652 
Malakoff Corp. Bhd (Malaysia)   68,200    15,548 
Mega First Corp. Bhd (Malaysia)   14,800    25,701 
NTPC, Ltd. (India)   29,570    34,297 
OGK-2 PJSC (Russia)   2,185,000    21,739 
Power Grid Corp. of India, Ltd. (India)   17,631    38,979 
Rosseti Moscow Region PJSC (Russia)   1,073,000    16,045 
RusHydro PJSC (Russia) (a)   1,960,000    19,146 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 97.3% (Continued)  Shares  Value
Utilities - 2.3% (Continued)          
Electric Utilities - 1.6% (Continued)          
SJVN, Ltd. (India)   49,022   $14,653 
         486,327 
Gas & Water Utilities - 0.7%          
China Suntien Green Energy Corp., Ltd. - H Shares (China) (a)   229,000    59,538 
China Water Affairs Group, Ltd. (China)   118,000    92,952 
Cia de Saneamento de Minas Gerais S.A. (Brazil)   1,400    11,649 
Infraestructura Energetica Nova S.A.B. de C.V. (Mexico)   5,500    16,527 
Kunlun Energy Co., Ltd. (China)   22,000    14,527 
Yunnan Water Investment Co., Ltd. - H Shares (China)   184,877    23,386 
         218,579 
           
Total Common Stocks (Cost $26,506,085)       $30,171,982 

 

PREFERRED STOCKS - 2.5%  Shares  Value
Communications - 0.1%          
Telecommunications - 0.1%          
Telefonica Brasil S.A. ADR (Brazil)   4,900   $37,583 
           
Consumer Discretionary - 0.1%          
Automotive - 0.1%          
Randon S.A. Implementos e Participacoes (Brazil)   10,500    22,753 
           
Retail - Discretionary - 0.0% (d)          
Lojas Americanas S.A. (Brazil)   2,400    12,132 
           
Energy - 0.2%          
Oil & Gas Producers - 0.2%          
Petroleo Brasileiro S.A. ADR (Brazil)   8,000    56,320 
Surgutneftegas PJSC (Russia)   27,700    13,992 
         70,312 
Financials - 0.1%          
Banking - 0.1%          
Banco do Estado do Rio Grande do Sul S.A. - Series B (Brazil)   5,400    11,471 

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
STATEMENT OF INVESTMENTS (Continued)
 
PREFERRED STOCKS - 2.5% (Continued)  Shares  Value
Technology - 1.8%          
Technology Hardware - 1.8%          
Samsung Electronics Co., Ltd. (South Korea)   13,143   $567,362 
           
Utilities - 0.2%          
Electric Utilities - 0.1%          
Centrais Eletricas Brasileiras S.A. - Series B (Brazil)   2,800    15,610 
Cia Paranaense de Energia - Series B (Brazil)   2,000    22,082 
         37,692 
Gas & Water Utilities - 0.1%          
Cia de Saneamento do Parana (Brazil)   23,700    21,479 
           
Total Preferred Stocks (Cost $576,130)       $780,784 
           
Investments at Value - 99.8% (Cost $27,082,215)       $30,952,766 
           
Other Assets in Excess of Liabilities - 0.2%        51,495 
           
Net Assets - 100.0%       $31,004,261 

 

(a) Non-income producing security.
(b) Restricted security. See the table on the following page for additional information.
(c) Security was purchased in a transaction exempt from registration in compliance with Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities represent $115,079 or 0.4% of net assets as of September 30, 2020. These securities are restricted. See the table on the following page for additional information regarding each restricted security.
(d) Percentage rounds to less than 0.1%.
(e) Level 3 securities fair value under procedures established by the Board of Trustees, represents 0.0% of net assets. The total value of these securities is $0.

 

The Fund's sector and industry classifications presented herein refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. For Fund compliance purposes, sector and industry classifications are based on the sector and industry categorization methodology of the Adviser to the Funds. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.  

 

See notes to Quarterly Statements of Investments.

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
Country Breakdown
September 30, 2020 (Unaudited)
 
Country  Value  % of Net Assets
China  $12,804,514    41.3% 
Taiwan   4,135,863    13.3%
South Korea   3,806,757    12.3%
India   2,679,312    8.6%
Brazil   1,325,483    4.3%
South Africa   1,032,341    3.3%
Russia   868,942    2.8%
Saudi Arabia   789,035    2.6%
Malaysia   628,002    2.0%
Thailand   513,144    1.7%
Indonesia   485,742    1.6%
Mexico   431,371    1.4%
Philippines   310,870    1.0%
Poland   268,237    0.9%
Qatar   175,501    0.6%
Turkey   170,047    0.5%
United Arab Emirates   152,796    0.5%
Chile   119,639    0.4%
Colombia   103,848    0.3%
Greece   75,945    0.2%
Peru   45,041    0.1%
Egypt   17,019    0.1%
Hungary   13,317     0.0% (a)
Total Investments  $30,952,766    99.8%
Other Assets in Excess of Liabilities   51,495    0.2%
Net Assets  $31,004,261    100.0%

 

(a) Percentage rounds to less than 0.1%.

 

See notes to Quarterly Statements of Investments.

 

 

 

SEGALL BRYANT & HAMILL EMERGING MARKETS FUND
RESTRICTED SECURITIES
September 30, 2020 (Unaudited)
Issuer Description  Acquisition Date  Cost  Value  Value as a Percentage of Net Assets
GAIL India, Ltd. (India)  08/20/20  $17,039   $14,699    0.05%
Reliance Industries, Ltd., 144A (India)  4/29/2020-9/16/20   106,637    115,079    0.37%
      $123,676   $129,778    0.42%

 

See notes to Quarterly Statements of Investments.                  

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS
September 30, 2020 (Unaudited)
 
COMMON STOCKS - 98.8%  Shares  Value
Communications - 4.6%          
Advertising & Marketing - 0.1%          
FAN Communications, Inc. (Japan) (a)   65,900   $302,987 
           
Entertainment Content - 1.1%          
Embracer Group A.B. (Sweden) (a)   11,773    218,639 
GungHo Online Entertainment, Inc. (Japan)   26,400    568,550 
Mixi, Inc. (Japan)   23,200    625,395 
Stillfront Group A.B. (Sweden) (a)   5,207    650,270 
         2,062,854 
Publishing & Broadcasting - 1.5%          
APG SGA S.A. (Switzerland) (a)   676    136,072 
ITV PLC (United Kingdom)   344,256    300,101 
Mediaset Espana Comunicacion S.A. (Spain) (a)   301,518    1,116,826 
Metropole Television S.A. (France) (a)   4,659    55,631 
ProSiebenSat.1 Media S.E. (Germany)   24,504    321,172 
Television Francaise 1 (France) (a)   139,215    852,318 
TX Group A.G. (Switzerland)   1,354    97,625 
         2,879,745 
Telecommunications - 1.9%          
Airtel Africa PLC (United Kingdom)   780,510    586,032 
ARTERIA Networks Corp. (Japan) (a)   24,600    427,839 
Bezeq The Israeli Telecommunication Corp., Ltd. (Israel) (a)   877,546    1,016,858 
Chorus, Ltd. (New Zealand)   35,967    206,165 
CITIC Telecom International Holdings, Ltd. (Hong Kong)   2,168,000    693,517 
Eutelsat Communications S.A. (France)   32,211    313,767 
SpeedCast International, Ltd. (Australia) (a) (b)   55,059    26,453 
TalkTalk Telecom Group PLC (United Kingdom)   97,799    101,022 
Telekom Austria A.G. (Austria)   37,387    264,357 
         3,636,010 
Consumer Discretionary - 15.1%          
Apparel & Textile Products - 0.4%          
Pacific Textiles Holdings, Ltd. (Hong Kong)   1,572,000    733,598 
           
Automotive - 2.1%          
Aisan Industry Co., Ltd. (Japan)   22,717    101,547 

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 98.8% (Continued)  Shares  Value
Consumer Discretionary - 15.1% (Continued)          
Automotive - 2.1% (Continued)          
CIE Automotive S.A. (Spain)   30,333   $572,424 
Daikyonishikawa Corp. (Japan)   78,664    418,479 
Eagle Industry Co., Ltd. (Japan)   38,800    293,139 
Exedy Corp. (Japan)   28,606    372,543 
Faurecia S.E. (France) (a)   6,661    287,157 
G-Tekt Corp. (Japan)   4,136    47,136 
Piaggio & C. S.p.A. (Italy)   351,069    948,641 
TI Fluid Systems PLC (United Kingdom)   136,336    270,772 
Topre Corp. (Japan)   37,300    402,638 
Toyo Tire Corp. (Japan)   15,500    251,027 
         3,965,503 
Home & Office Products - 0.1%          
Societe BIC S.A. (France)   4,324    226,664 
           
Home Construction - 3.5%          
Bellway PLC (United Kingdom)   26,472    802,330 
Cleanup Corp. (Japan)   15,900    77,788 
Haseko Corp. (Japan)   156,100    2,055,719 
Inwido A.B. (Sweden) (a)   156,759    1,592,928 
Open House Co., Ltd. (Japan)   5,300    191,976 
Redrow PLC (United Kingdom)   189,603    986,495 
Takara Leben Co., Ltd. (Japan)   32,057    94,972 
Vistry Group PLC (United Kingdom)   142,772    1,046,254 
         6,848,462 
Leisure Facilities & Services - 1.4%          
Betsson A.B. (Sweden) (a)   142,356    1,090,994 
Gamesys Group PLC (United Kingdom)   89,680    1,379,336 
Kindred Group PLC (Sweden)   23,309    168,732 
LeoVegas A.B. (Sweden) (a)   24,407    103,152 
         2,742,214 
Retail - Discretionary - 5.1%          
Arcland Sakamoto Co., Ltd. (Japan)   30,000    615,721 
Best World International, Ltd. (Singapore) (b)   88,900    73,222 
Chow Sang Sang Holdings International, Ltd. (Hong Kong)   238,400    256,657 
CONEXIO Corp. (Japan)   35,561    399,060 

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 98.8% (Continued)  Shares  Value
Consumer Discretionary - 15.1% (Continued)          
Retail - Discretionary - 5.1% (Continued)          
Dixons Carphone PLC (United Kingdom)   286,375   $344,872 
Harvey Norman Holdings, Ltd. (Australia)   106,176    345,418 
Hornbach Baumarkt A.G. (Germany)   19,838    1,053,777 
Hornbach Holding A.G. & Co. KGaA (Germany)   17,167    2,004,964 
JB Hi-Fi, Ltd. (Australia)   25,167    855,286 
Joyful Honda Co., Ltd. (Japan) (a)   36,980    603,267 
Komeri Co., Ltd. (Japan)   20,300    641,471 
Nishimatsuya Chain Co., Ltd. (Japan)   9,100    123,189 
Redde Northgate PLC (United Kingdom)   437,762    1,042,024 
Super Retail Group, Ltd. (Australia)   86,462    657,261 
T-Gaia Corp. (Japan)   27,932    525,562 
XEBIO Holdings Co., Ltd. (Japan)   55,900    404,421 
         9,946,172 
Wholesale - Discretionary - 2.5%          
Accent Group, Ltd. (Australia)   1,056,275    1,258,461 
ALSO Holding A.G. (Switzerland) (a)   4,165    1,102,821 
Daiwabo Holdings Co., Ltd. (Japan)   21,200    1,371,016 
Dicker Data, Ltd. (Australia)   30,073    166,116 
Econocom Group S.A./N.V. (Belgium) (a)   167,699    506,361 
Kanematsu Corp. (Japan)   41,500    509,138 
         4,913,913 
Consumer Staples - 7.6%          
Food - 4.2%          
Agrana Beteiligungs A.G. (Austria)   6,430    123,203 
Bakkavor Group PLC (United Kingdom) (a)   212,981    185,225 
Bumitama Agri, Ltd. (Singapore)   91,042    32,438 
Ebro Foods S.A. (Spain)   4,284    99,766 
Emmi A.G. (Switzerland)   186    185,800 
Feed One Co., Ltd. (Japan) (a)   47,749    422,869 
ForFarmers N.V. (Netherlands)   38,392    234,998 
Japfa, Ltd. (Singapore)   1,402,363    619,832 
La Doria S.p.A. (Italy)   8,456    110,668 
Leroy Seafood Group A.S.A. (Norway)   15,492    88,951 
Marudai Food Co., Ltd. (Japan)   5,092    84,170 
Megmilk Snow Brand Co., Ltd. (Japan)   40,400    977,756 

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 98.8% (Continued)  Shares  Value
Consumer Staples - 7.6% (Continued)          
Food - 4.2% (Continued)          
Origin Enterprises PLC (Ireland)   106,975   $419,672 
Premier Foods PLC (United Kingdom) (a)   90,853    108,437 
Prima Meat Packers, Ltd. (Japan)   35,500    1,094,349 
Schouw & Co. A/S (Denmark)   1,027    99,373 
Starzen Co., Ltd. (Japan)   7,703    304,287 
Strauss Group, Ltd. (Israel)   24,812    712,195 
Tassal Group, Ltd. (Australia)   367,454    916,557 
Tate & Lyle PLC (United Kingdom)   151,375    1,299,093 
         8,119,639 
Food & Staples Retailing - 0.3%          
Valor Holdings Co., Ltd. (Japan)   21,900    605,979 
           
Household Products - 0.2%          
Ontex Group N.V. (Belgium) (a)   16,540    215,757 
S.T. Corp. (Japan)   7,826    168,536 
         384,293 
Retail - Consumer Staples - 2.0%          
Arcs Co., Ltd. (Japan)   27,159    697,112 
Axial Retailing, Inc. (Japan)   6,746    316,731 
Cawachi, Ltd. (Japan)   20,500    569,271 
Clas Ohlson A.B. - B Shares (Sweden)   50,334    511,223 
Conviviality PLC (United Kingdom) (a) (b)   284,313    0 
Izumi Co., Ltd. (Japan)   30,100    1,097,336 
Life Corp. (Japan)   10,400    479,917 
Okuwa Co., Ltd. (Japan)   6,700    95,731 
Qol Holdings Co., Ltd. (Japan)   9,850    113,291 
Sonae SGPS S.A. (Portugal)   88,641    60,118 
         3,940,730 
Tobacco & Cannabis - 0.8%          
Scandinavian Tobacco Group A/S (Denmark)   98,366    1,456,574 
           
Wholesale - Consumer Staples - 0.1%          
Scandi Standard A.B. (Sweden) (a)   22,425    171,623 
Synlait Milk, Ltd. (New Zealand) (a)   25,367    92,314 
         263,937 

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 98.8% (Continued)  Shares  Value
Energy - 0.9%          
Oil & Gas Producers - 0.9%          
Beach Energy, Ltd. (Australia)   464,594   $445,419 
Diversified Gas & Oil PLC (United Kingdom)   912,018    1,234,661 
Oil Refineries, Ltd. (Israel)   304,636    54,275 
Serica Energy PLC (United Kingdom)   31,788    39,218 
         1,773,573 
Oil & Gas Services & Equipment - 0.0% (c)          
Sembcorp Marine, Ltd. (Singapore) (a)   673,789    72,822 
           
Financials - 10.8%          
Asset Management - 1.9%          
Anima Holding S.p.A. (Italy)   381,411    1,495,626 
DWS Group GmbH & Co. KGaA (Germany) (a)   17,782    612,924 
IOOF Holdings, Ltd. (Australia)   156,586    347,549 
Navigator Global Investments, Ltd. (Australia)   221,374    243,090 
Pendal Group, Ltd. (Australia)   237,281    938,716 
         3,637,905 
Banking - 2.1%          
77 Bank, Ltd. (The) (Japan)   15,200    234,631 
Bank of Saga, Ltd. (The) (Japan)   12,100    150,505 
BAWAG Group A.G. (Austria) (a)   23,412    846,566 
Dah Sing Financial Holdings, Ltd. (Hong Kong)   71,200    171,844 
Gunma Bank, Ltd. (The) (Japan)   136,763    455,902 
Hiroshima Bank, Ltd. (The) (Japan)   20,200    117,372 
Miyazaki Bank, Ltd. (The) (Japan)   3,660    83,670 
Nishi-Nippon Financial Holdings, Inc. (Japan)   61,900    431,701 
Norwegian Finans Holding A.S.A. (Norway) (a)   149,798    1,090,931 
San ju San Financial Group, Inc. (Japan)   7,999    104,427 
Sydbank A/S (Denmark)   6,753    105,852 
Tokyo Kiraboshi Financial Group, Inc. (Japan)   3,200    34,472 
Towa Bank, Ltd. (The) (Japan)   43,146    296,637 
         4,124,510 
Institutional Financial Services - 1.0%          
Guotai Junan International Holdings, Ltd. (Hong Kong)   1,024,000    137,231 
IG Group Holdings PLC (United Kingdom)   48,962    500,134 
Link Administration Holdings, Ltd. (Australia)   32,022    86,435 

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 98.8% (Continued)  Shares  Value
Financials - 10.8% (Continued)          
Institutional Financial Services - 1.0% (Continued)          
TP ICAP PLC (United Kingdom)   402,135   $1,183,529 
         1,907,329 
Insurance - 1.6%          
ASR Nederland N.V. (Netherlands)   14,656    492,996 
Challenger, Ltd. (Australia)   32,872    91,434 
Helvetia Holding A.G. (Switzerland)   14,263    1,215,058 
Menora Mivtachim Holdings, Ltd. (Israel) (a)   7,806    94,823 
Migdal Insurance and Financial Holdings, Ltd. (Israel) (a)   570,624    371,374 
Protector Forsikring A.S.A. (Norway) (a)   33,314    163,199 
Unipol Gruppo S.p.A. (Italy) (a)   90,906    397,311 
Vienna Insurance Group A.G. (Austria)   11,265    250,715 
         3,076,910 
Specialty Finance - 4.2%          
AIFUL Corp. (Japan) (a)   242,700    628,810 
Banca Farmafactoring S.p.A. (Italy) (a) (d)   52,708    296,472 
Credit Saison Co., Ltd. (Japan)   68,800    730,805 
Fuyo General Lease Co., Ltd. (Japan)   10,400    644,584 
Hitachi Capital Corp. (Japan)   22,183    521,485 
International Personal Finance PLC (United Kingdom) (a)   195,061    116,785 
Intrum A.B. (Sweden)   45,696    1,119,621 
Kanamoto Co., Ltd. (Japan)   28,282    644,717 
Nishio Rent All Co., Ltd. (Japan)   13,200    280,627 
Plus500, Ltd. (United Kingdom)   85,632    1,730,951 
Resurs Holding A.B. (Sweden)   204,174    1,055,576 
Sun Hung Kai & Co., Ltd. (Hong Kong)   1,072,000    419,725 
         8,190,158 
Health Care - 6.8%          
Biotech & Pharma - 2.6%          
Alliance Pharma PLC (United Kingdom)   142,879    136,426 
Clinigen Group PLC (United Kingdom)   5,009    45,272 
Dermapharm Holding S.E. (Germany)   1,827    97,691 
Fuso Pharmaceutical Industries, Ltd. (Japan)   6,000    166,071 
Hikma Pharmaceuticals PLC (United Kingdom)   21,588    723,556 
Kaken Pharmaceutical Co., Ltd. (Japan)   24,900    1,140,814 
Pharma Mar S.A. (Spain)   5,220    662,379 

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 98.8% (Continued)  Shares  Value
Health Care - 6.8% (Continued)          
Biotech & Pharma - 2.6% (Continued)          
Recipharm A.B. (Sweden) (a)   47,668   $826,917 
Sawai Pharmaceutical Co., Ltd. (Japan)   11,900    600,303 
Towa Pharmaceutical Co., Ltd. (Japan)   35,873    719,790 
         5,119,219 
Health Care Facilities & Services - 2.4%          
Australian Pharmaceutical Industries, Ltd. (Australia)   1,244,900    937,086 
Galenica A.G. (Switzerland)   19,712    1,370,471 
Humana A.B. (Sweden) (a)   52,974    340,594 
Integral Diagnostics, Ltd. (Australia)   218,391    659,135 
Mediclinic International PLC (United Kingdom)   90,654    332,770 
UDG Healthcare PLC (United Kingdom)   26,267    261,272 
Vital KSK Holdings, Inc. (Japan)   65,900    682,105 
         4,583,433 
Medical Equipment & Devices - 1.8%          
Comet Holdings A.G. (Switzerland)   654    100,241 
ConvaTec Group PLC (United Kingdom)   49,705    114,503 
Draegerwerk A.G. & Co. KGaA (Germany) (a)   8,585    633,078 
Getinge A.B. - B Shares (Sweden)   81,827    1,780,090 
Inmode, Ltd. (Israel) (a)   8,100    293,058 
Paramount Bed Holdings Co., Ltd. (Japan)   12,047    497,826 
Tecan Group A.G. (Switzerland)   215    106,904 
         3,525,700 
Industrials - 20.1%          
Aerospace & Defense - 0.1%          
Ultra Electronics Holdings PLC (United Kingdom)   4,594    123,455 
           
Commercial Support Services - 1.2%          
Asahi Holdings, Inc. (Japan)   22,900    743,259 
Derichebourg S.A. (France)   155,972    460,822 
G4S PLC (United Kingdom)   122,959    317,131 
Loomis A.B. (Sweden) (a)   6,677    182,620 
Phoenix Group Holdings PLC (United Kingdom)   59,124    525,781 
Prosegur Cia de Seguridad S.A. (Spain)   64,423    154,473 
         2,384,086 

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 98.8% (Continued)  Shares  Value
Industrials - 20.1% (Continued)          
Electrical Equipment - 2.8%          
Hosiden Corp. (Japan)   82,800   $748,510 
Signify N.V. (Netherlands) (a)   71,403    2,641,342 
Sinko Industries, Ltd. (Japan)   15,882    221,671 
Uponor OYJ (Finland)   83,418    1,457,714 
Zehnder Group A.G. (Switzerland)   9,542    461,428 
         5,530,665 
Engineering & Construction - 8.4%          
Allreal Holding A.G. (Switzerland)   5,452    1,174,450 
Balfour Beatty PLC (United Kingdom)   35,318    101,671 
Daiho Corp. (Japan)   10,600    303,446 
Fomento de Construcciones y Contratas S.A. (Spain)   27,734    264,397 
Implenia A.G. (Switzerland)   29,949    919,545 
Kandenko Co., Ltd. (Japan)   68,900    562,679 
Keller Group PLC (United Kingdom)   54,533    428,524 
Kumagai Gumi Co., Ltd. (Japan)   55,000    1,416,949 
Kyudenko Corp. (Japan)   36,700    1,057,482 
Morgan Sindall Group PLC (United Kingdom)   26,502    389,007 
Nippo Corp. (Japan)   25,800    713,412 
Nishimatsu Construction Co., Ltd. (Japan)   40,797    810,204 
Peab A.B. - Class B (Sweden) (a)   151,135    1,514,118 
Penta-Ocean Construction Co., Ltd. (Japan)   154,400    1,012,081 
PER Aarsleff Holdings A/S (Denmark)   30,049    1,260,327 
Sanki Engineering Co., Ltd. (Japan)   66,840    732,516 
Takamatsu Construction Group Co., Ltd. (Japan)   26,167    572,482 
TOA Corp. (Japan)   44,100    708,266 
Toda Corp. (Japan)   60,200    413,083 
Toenec Corp. (Japan)   5,007    170,741 
Totetsu Kogyo Co., Ltd. (Japan)   19,650    530,549 
Toyo Construction Co., Ltd. (Japan)   132,000    516,278 
Yahagi Construction Co., Ltd. (Japan)   18,200    161,413 
Yokogawa Bridge Holdings Corp. (Japan)   27,000    501,528 
Yurtec Corp. (Japan)   12,481    76,570 
         16,311,718 
Industrial Intermediate Products - 0.6%          
Bekaert S.A. (Belgium)   5,918    123,305 

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 98.8% (Continued)  Shares  Value
Industrials - 20.1% (Continued)          
Industrial Intermediate Products - 0.6% (Continued)          
Trelleborg A.B. (Sweden) (a)   57,685   $1,018,449 
         1,141,754 
Industrial Support Services - 1.1%          
Aggreko PLC (United Kingdom)   39,401    187,350 
Gecoss Corp. (Japan)   15,200    136,143 
Hakuto Co., Ltd. (Japan)   12,700    135,531 
Rexel S.A. (France) (a)   128,649    1,613,223 
         2,072,247 
Machinery - 1.9%          
Aichi Corp. (Japan)   15,255    127,814 
Danieli & C. Officine Meccaniche S.p.A. (Italy)   43,050    480,072 
IMI PLC (United Kingdom)   84,795    1,143,833 
Johnson Electric Holdings, Ltd. (Hong Kong)   465,000    1,013,322 
Sulzer A.G. (Switzerland)   4,324    347,501 
Takeuchi Manufacturing Co., Ltd. (Japan)   26,200    521,007 
         3,633,549 
Transportation & Logistics - 3.4%          
Babcock International Group PLC (United Kingdom) (a)   217,370    701,109 
bpost S.A. (Belgium)   184,926    1,619,538 
Compania de Distribucion Integral Logista Holdings S.A. (Spain)   18,162    310,062 
D/S Norden A/S (Denmark)   71,622    1,163,811 
Euronav N.V. (Belgium)   137,408    1,216,843 
Go-Ahead Group PLC (The) (United Kingdom)   83,240    619,227 
Hafnia, Ltd. (Norway)   58,626    88,937 
Hutchinson Port Holdings Trust (Singapore)   768,699    107,618 
Mitsui-Soko Holdings Co., Ltd. (Japan)   14,042    245,842 
Nobina A.B. (Sweden) (a)   60,385    396,874 
PostNL N.V. (Netherlands) (a)   68,398    207,680 
         6,677,541 
Transportation Equipment - 0.6%          
Austal, Ltd. (Australia)   492,252    1,162,081 
           
Materials - 9.6%          
Chemicals - 2.1%          
Chori Co., Ltd. (Japan)   12,600    193,524 

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 98.8% (Continued)  Shares  Value
Materials - 9.6% (Continued)          
Chemicals - 2.1% (Continued)          
Elkem A.S.A. (Norway)   389,146   $829,662 
Imerys S.A. (France)   6,367    236,705 
Inabata & Co., Ltd. (Japan)   68,200    870,344 
Kureha Corp. (Japan)   8,000    347,065 
Shikoku Chemicals Corp. (Japan)   5,758    64,034 
Sumitomo Seika Chemicals Co., Ltd. (Japan)   3,692    119,301 
Tokuyama Corp. (Japan)   56,000    1,349,489 
Wacker Chemie A.G. (Germany)   1,031    100,068 
         4,110,192 
Construction Materials - 0.9%          
Buzzi Unicem S.p.A. (Italy)   41,147    540,221 
Fletcher Building, Ltd. (New Zealand)   271,381    694,765 
Vicat S.A. (France)   9,705    324,904 
Xinyi Glass Holdings, Ltd. (Hong Kong)   88,000    177,974 
         1,737,864 
Containers & Packaging - 1.7%          
Gerresheimer A.G. (Germany)   12,036    1,347,134 
Rengo Co., Ltd. (Japan)   147,800    1,116,963 
Vetropack Holding A.G. (Switzerland) (a)   12,092    743,796 
         3,207,893 
Metals & Mining - 4.0%          
Aurubis A.G. (Germany)   1,336    90,900 
Centamin PLC (United Kingdom)   104,520    272,863 
Ferrexpo PLC (United Kingdom)   796,577    1,813,963 
KAZ Minerals PLC (United Kingdom)   42,609    288,096 
Mount Gibson Iron, Ltd. (Australia)   895,470    468,090 
NRW Holdings, Ltd. (Australia)   792,527    1,171,381 
Perenti Global, Ltd. (Australia)   1,326,829    1,106,753 
Ramelius Resources, Ltd. (Australia)   726,953    1,097,430 
Sandfire Resources, Ltd. (Australia)   295,386    872,544 
St Barbara, Ltd. (Australia)   219,634    474,427 
         7,656,447 

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 98.8% (Continued)  Shares  Value
Materials - 9.6% (Continued)          
Steel - 0.9%          
Aichi Steel Corp. (Japan)   18,500   $458,505 
Aperam S.A. (France)   28,865    812,288 
Godo Steel, Ltd. (Japan)   20,150    387,209 
Kyoei Steel, Ltd. (Japan)   14,200    182,483 
         1,840,485 
Real Estate - 11.3%          
Real Estate Owners & Developers - 1.8%          
ADO Properties S.A. (Germany)   4,182    115,725 
Ashtrom Group, Ltd. (Israel)   12,632    148,960 
Corestate Capital Holding S.A. (Germany) (a)   12,119    237,605 
Deutsche EuroShop A.G. (Germany) (a)   73,245    908,495 
K Wah International Holdings, Ltd. (Hong Kong)   328,000    158,555 
Kungsleden A.B. (Sweden)   12,853    121,644 
Norstar Holdings, Inc. (Israel)   15,515    67,833 
Selvaag Bolig A.S.A. (Norway)   104,709    580,586 
Summit Real Estate Holdings, Ltd. (Israel)   29,126    252,170 
Yanlord Land Group, Ltd. (Singapore)   1,056,474    879,188 
         3,470,761 
Real Estate Services - 1.7%          
Entra A.S.A. (Norway)   17,515    246,111 
Kenedix, Inc. (Japan)   84,600    445,374 
Nyfosa A.B. (Sweden) (a)   141,229    1,249,972 
Raysum Co., Ltd. (Japan)   32,300    289,245 
Savills PLC (United Kingdom) (a)   34,312    344,869 
Token Corp. (Japan)   6,800    502,543 
Wihlborgs Fastigheter A.B. (Sweden)   7,142    141,007 
         3,219,121 
REIT - 7.8%          
Activia Properties, Inc. (Japan) (a)   326    1,241,293 
AEON REIT Investment Corp. (Japan)   632    727,825 
Charter Hall Retail REIT (Australia)   139,203    336,783 
Civitas Social Housing PLC (United Kingdom)   870,256    1,185,376 
Cromwell European Real Estate Investment Trust (Singapore)   331,300    189,240 
Cromwell Property Group (Australia)   940,469    575,925 
Eagle Hospitality Trust (Singapore) (b)   1,204,600    165,030 

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 98.8% (Continued)  Shares  Value
Real Estate - 11.3% (Continued)          
REIT - 7.8% (Continued)          
Eurocommercial Properties N.V. (Netherlands)   83,041   $961,998 
First Real Estate Investment Trust (Singapore)   1,482,503    474,717 
Frontier Real Estate Investment Corp. (Japan) (a)   268    912,746 
Hammerson PLC (United Kingdom) (a)   796,152    167,628 
Ichigo Office REIT Investment Corp. (Japan) (a)   1,189    864,173 
Investec Australia Property Fund (Australia) (d)   305,844    283,532 
Kenedix Retail REIT Corp. (Japan)   88    177,566 
Keppel Pacific Oak US REIT (Singapore)   790,000    576,781 
Lar Espana Real Estate Socimi S.A. (Spain)   68,801    317,358 
Lippo Malls Indonesia Retail Trust (Singapore)   2,028,629    120,037 
Mercialys S.A. (France)   132,096    727,505 
MIRAI Corp. (Japan)   3,028    1,146,656 
NewRiver REIT PLC (United Kingdom) (d)   912,817    581,258 
Prime US REIT (Singapore)   158,600    131,168 
RDI REIT PLC (United Kingdom)   93,472    106,377 
Regional REIT, Ltd. (United Kingdom)   462,205    390,638 
Sasseur Real Estate Investment Trust (Singapore)   1,072,600    607,181 
Star Asia Investment Corp. (Japan)   831    346,479 
Takara Leben Real Estate Investment Trust Corp. (Japan)   532    441,747 
Tokyo Tatemono Co., Ltd. (Japan)   46,200    567,524 
Tritax Big Box REIT PLC (United Kingdom)   193,042    385,516 
Warehouse REIT PLC (United Kingdom)   147,106    210,694 
Workspace Group PLC (United Kingdom)   34,035    236,133 
         15,156,884 
Technology - 9.3%          
Semiconductors - 1.3%          
Dialog Semiconductor PLC (Germany) (a)   15,308    667,285 
Ferrotec Holdings Corp. (Japan)   20,900    180,071 
Mycronic A.B. (Sweden)   12,946    304,560 
Nova Measuring Instruments, Ltd. (Israel) (a)   1,959    102,870 
Siltronic A.G. (Germany)   12,850    1,151,406 
Tower Semiconductor, Ltd. (Israel) (a)   7,002    130,001 
         2,536,193 
Software - 2.5%          
Atea A.S.A. (Norway) (a)   108,399    1,335,445 

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 98.8% (Continued)  Shares  Value
Technology - 9.3% (Continued)          
Software - 2.5% (Continued)          
Avast PLC (United Kingdom)   139,237   $945,275 
Bravura Solutions, Ltd. (Australia)   42,563    104,934 
Hansen Technologies, Ltd. (Australia)   245,289    684,823 
Integrated Research, Ltd. (Australia)   216,221    550,850 
Micro Focus International PLC (United Kingdom)   39,174    124,531 
Playtech PLC (United Kingdom) (a)   69,747    325,624 
Transcosmos, Inc. (Japan)   30,100    821,648 
         4,893,130 
Technology Hardware - 2.5%          
Canon Marketing Japan, Inc. (Japan)   19,200    385,295 
Eizo Corp. (Japan)   11,396    443,305 
Elematec Corp. (Japan)   7,723    72,898 
Kaga Electronics Co., Ltd. (Japan)   40,700    868,331 
Logitech International S.A. (Switzerland)   3,862    299,107 
MCJ Co., Ltd. (Japan)   137,100    1,254,018 
Melco Holdings, Inc. (Japan)   4,277    97,261 
Quadient S.A. (France)   5,225    70,768 
Restar Holdings Corp. (Japan)   29,300    605,493 
Sanshin Electronics Co., Ltd. (Japan)   6,000    116,264 
Spirent Communications PLC (United Kingdom)   45,623    167,766 
Tamron Co., Ltd. (Japan)   29,756    471,107 
         4,851,613 
Technology Services - 3.0%          
Computacenter PLC (United Kingdom)   70,848    2,163,333 
DTS Corp. (Japan)   24,927    530,369 
Mitsubishi Research Institute, Inc. (Japan)   15,500    653,092 
NNIT A/S (Denmark)   14,318    297,138 
Serco Group PLC (United Kingdom) (a)   385,579    631,207 
Softwareone Holding A.G. (Switzerland) (a)   5,601    156,056 
Sopra Steria Group (France) (a)   1,740    275,877 
TietoEVRY OYJ (Finland)   40,110    1,109,087 
         5,816,159 

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 98.8% (Continued)  Shares  Value
Utilities - 2.7%          
Electric & Gas Marketing & Trading - 0.1%          
Genesis Energy, Ltd. (New Zealand)   98,012   $191,126 
           
Electric Utilities - 2.2%          
A2A S.p.A. (Italy)   776,294    1,127,729 
BKW A.G. (Switzerland)   8,864    943,796 
Contact Energy, Ltd. (New Zealand)   42,012    186,008 
Drax Group PLC (United Kingdom)   420,203    1,442,585 
EVN A.G. (Austria)   18,244    304,447 
Hokuriku Electric Power Co. (Japan)   13,700    102,562 
Sembcorp Industries, Ltd. (Singapore)   137,200    135,748 
         4,242,875 
Gas & Water Utilities - 0.4%          
Italgas S.p.A. (Italy)   96,100    606,170 
Nippon Gas Co., Ltd. (Japan)   4,600    232,438 
         838,608 
           
Total Common Stocks (Cost $193,941,981)       $191,847,280 
           
PREFERRED STOCKS - 0.5%   Shares    Value 
Health Care - 0.3%          
Medical Equipment & Devices - 0.3%          
Draegerwerk A.G. & Co. KGaA (Germany) (a)   7,979   $693,900 

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
PREFERRED STOCKS - 0.5% (Continued)  Shares  Value
Materials - 0.2%          
Construction Materials - 0.2%          
STO S.E. & Co. KGaA (Germany)   2,339   $311,026 
           
Total Preferred Stocks (Cost $709,365)       $1,004,926 
           
Investments at Value - 99.3% (Cost $194,651,346)       $192,852,206 
           
Other Assets in Excess of Liabilities - 0.7%        1,251,209 
           
Net Assets - 100.0%       $194,103,415 

 

(a) Non-income producing security.
(b) Level 3 securities fair value under procedures established by the Board of Trustees, represents 0.2% of net assets. The total value of these securities is $264,705.
(c) Percentage rounds to less than 0.1%.
(d) Restricted security. See the table on the following page for additional information.

 

The Fund's sector and industry classifications presented herein refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. For Fund compliance purposes, sector and industry classifications are based on the sector and industry categorization methodology of the Adviser to the Funds. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

 

See notes to Quarterly Statements of Investments.

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND
Country Breakdown
September 30, 2020 (Unaudited)
 
Country  Value  % of Net Assets
Japan  $60,344,865    31.1%
United Kingdom   31,191,890    16.1%
Australia   16,863,969    8.7%
Sweden   14,559,603    7.5%
Germany   10,347,150    5.3%
Switzerland   9,360,671    4.8%
France   6,257,629    3.2%
Italy   6,002,910    3.1%
Netherlands   4,539,014    2.3%
Norway   4,423,822    2.3%
Denmark   4,383,075    2.3%
Singapore   4,185,022    2.2%
Hong Kong   3,762,423    1.9%
Belgium   3,681,804    1.9%
Spain   3,497,685    1.8%
Israel   3,244,417    1.7%
Finland   2,566,801    1.3%
Austria   1,789,288    0.9%
New Zealand   1,370,378    0.7%
Ireland   419,672    0.2%
Portugal   60,118     0.0% (a)
Total Investments  $192,852,206    99.3%
Other Assets in Excess of Liabilities   1,251,209    0.7%
Net Assets  $194,103,415    100.0%

 

(a)Percentage rounds to less than 0.1%.

 

  See notes to Quarterly Statements of Investments.

 

 

 

SEGALL BRYANT & HAMILL INTERNATIONAL SMALL CAP FUND   
RESTRICTED SECURITIES            
September 30, 2020 (Unaudited)            
Issuer Description  Acquisition Date   Cost    Value    Value as a Percentage of Net Assets 
Banca Farmafactoring S.p.A. (Italy)  04/23/20-05/19/20  $263,307   $296,472    0.15%
Investec Australia Property Fund (Australia)  06/12/20-06/15/20   355,679    283,532    0.15%
NewRiver REIT PLC (United Kingdom)  02/13/18-05/11/20   1,482,600    581,258    0.30%
      $2,101,586   $1,161,262    0.60%

 

See notes to Quarterly Statements of Investments.      

 

 

 

SEGALL BRYANT & HAMILL FUNDAMENTAL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS
September 30, 2020 (Unaudited)
 
COMMON STOCKS - 95.8%  Shares  Value
Communications - 24.1%          
Advertising & Marketing - 1.9%          
4Imprint Group PLC (United Kingdom)   32,100   $772,735 
           
Entertainment Content - 1.3%          
DouYu International Holdings, Ltd. ADR (China) (a)   20,250    267,502 
HUYA, Inc. ADR (China) (a)   11,900    285,005 
         552,507 
Internet Media & Services - 16.6%          
Autohome, Inc. ADR (China)   6,243    599,328 
BASE, Inc. (Japan) (a)   9,650    1,017,072 
LIFULL Co., Ltd. (Japan)   90,400    382,804 
LiveChat Software S.A. (Poland)   31,985    751,419 
MarkLines Co., Ltd. (Japan)   36,411    823,715 
Momo, Inc. (China)   39,400    542,144 
SMS Co., Ltd. (Japan)   36,290    1,053,519 
Webjet, Ltd. (Australia)   342,442    966,943 
ZIGExN Co., Ltd. (Japan)   191,642    630,261 
         6,767,205 
Telecommunications - 4.3%          
KINX, Inc. (South Korea)   13,885    1,048,400 
Vision, Inc. (Japan) (a)   88,100    686,920 
         1,735,320 
Consumer Discretionary - 21.9%          
Consumer Services - 2.0%          
Fu Shou Yuan International Group, Ltd. (China)   829,247    809,974 
           
E-Commerce Discretionary - 4.1%          
boohoo Group PLC (Jersey) (a)   185,340    894,747 
Kitanotatsujin Corp. (Japan)   148,100    767,842 
         1,662,589 
Leisure Facilities & Services - 7.1%          
Enlabs A.B. (Sweden) (a)   350,000    1,220,266 
Evolution Gaming Group A.B. (Sweden)   17,700    1,169,249 
Jumbo Interactive, Ltd. (Australia)   58,100    524,866 
         2,914,381 

 

 

 

SEGALL BRYANT & HAMILL FUNDAMENTAL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 95.8% (Continued)  Shares  Value
Consumer Discretionary - 21.9% (Continued)          
Leisure Products - 2.0%          
MIPS A.B. (Sweden)   18,059   $804,094 
           
Retail - Discretionary - 6.7%          
Boyd Group Services, Inc. (Canada)   6,415    990,766 
China Meidong Auto Holdings, Ltd. (Hong Kong)   184,800    711,957 
SwedenCare A.B. (Sweden)   25,010    569,568 
Vertu Motors PLC (United Kingdom)   1,312,518    444,044 
         2,716,335 
Financials - 7.7%          
Asset Management - 1.6%          
Azimut Holdings S.p.A. (Italy)   35,077    633,468 
           
Institutional Financial Services - 3.7%          
Nihon M&A Center, Inc. (Japan)   12,430    710,964 
Strike Co., Ltd. (Japan)   13,600    799,041 
         1,510,005 
Specialty Finance - 2.4%          
Mortgage Advice Bureau Holdings, Ltd. (United Kingdom)   108,249    984,717 
           
Health Care - 0.8%          
Biotech & Pharma - 0.8%          
Essex Bio-Technology, Ltd. (Hong Kong)   565,000    330,916 
           
Industrials - 8.9%          
Commercial Support Services - 5.0%          
Clipper Logistics PLC (United Kingdom)   244,575    1,540,674 
M&A Capital Partners Co., Ltd. (Japan) (a)   10,812    509,561 
         2,050,235 
Engineering & Construction - 2.0%          
Instalco A.B. (Sweden) (a)   35,900    798,255 

 

 

 

SEGALL BRYANT & HAMILL FUNDAMENTAL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 95.8% (Continued)  Shares  Value
Industrials - 8.9% (Continued)          
Industrial Support Services - 1.9%          
Diploma PLC (United Kingdom)   27,980   $793,340 
           
Materials - 1.9%          
Chemicals - 1.9%          
IMCD N.V. (Netherlands)   6,640    789,834 
           
Technology - 30.5%          
Software - 14.3%          
Constellation Software, Inc. (Canada)   1,475    1,638,885 
Fortnox A.B. (Sweden)   47,754    1,439,381 
GB Group PLC (United Kingdom) (a)   165,420    1,497,811 
Logo Yazilim Sanayi Ve Ticaret A.S. (Turkey) (a)   49,860    630,362 
Sinch A.B. (Sweden) (a)   7,400    603,330 
         5,809,769 
Technology Hardware - 1.0%          
PAX Global Technology, Ltd. (China)   688,200    414,692 
           
Technology Services - 15.2%          
Appen, Ltd. (Australia)   69,210    1,710,368 
CANCOM S.E. (Germany)   18,030    931,421 
Keywords Studios PLC (Ireland)   65,489    1,838,762 
PagSeguro Digital, Ltd. - Class A (Brazil) (a)   20,540    774,563 

 

 

 

SEGALL BRYANT & HAMILL FUNDAMENTAL INTERNATIONAL SMALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 95.8% (Continued)  Shares  Value
Technology Services - 15.2% (Continued)          
Softcat PLC (United Kingdom)   60,969   $948,012 
         6,203,126 
           
Investments at Value - 95.8% (Cost $28,029,042)       $39,053,497 
           
Other Assets in Excess of Liabilities - 4.2%        1,725,237 
           
Net Assets - 100.0%       $40,778,734 

 

(a) Non-income producing security.

 

The Fund's sector and industry classifications presented herein refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. For Fund compliance purposes, sector and industry classifications are based on the sector and industry categorization methodology of the Adviser to the Funds. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

 

See notes to Quarterly Statements of Investments.

 

 

 

SEGALL BRYANT & HAMILL FUNDAMENTAL INTERNATIONAL SMALL CAP FUND
Country Breakdown
September 30, 2020 (Unaudited)
 
Country  Value  % of Net Assets
Japan  $7,381,699    18.1%
United Kingdom   6,981,333    17.1%
Sweden   6,604,143    16.2%
Australia   3,202,177    7.9%
China   2,918,645    7.2%
Canada   2,629,651    6.4%
Ireland   1,838,762    4.5%
South Korea   1,048,400    2.6%
Hong Kong   1,042,873    2.6%
Germany   931,421    2.3%
Jersey   894,747    2.2%
Netherlands   789,834    1.9%
Brazil   774,563    1.9%
Poland   751,419    1.8%
Italy   633,468    1.6%
Turkey   630,362    1.5%
Total Investments  $39,053,497    95.8%
Other Assets in Excess of Liabilities   1,725,237    4.2%
Net Assets  $40,778,734    100.0%

 

See notes to Quarterly Statements of Investments.

 

 

 

 

SBH FUNDAMENTAL INTERNATIONAL SMALL CAP FUND   
SCHEDULE OF FORWARD FOREIGN CURRENCY CONTRACTS   
September 30, 2020 (Unaudited)   
                      
 
 
Counterparty		  
 
 		  Settlement
Date		  
 
 		  Fund
Receiving		  
 
 		  U.S. $ Value at
September 30, 2020		  
 
 		  Fund
Delivering		  
 
 		  U.S. $ Value at
September 30, 2020		  
 
 

Asset Derivatives

Unrealized
Appreciation

  
 
 

Liability Derivatives

Unrealized
Depreciation
BNY Mellon   12/15/2020    AED    47,451    USD    47,430   $21   $- 
BNY Mellon   12/15/2020    BRL    577,435    USD    604,401    -    (26,966)
BNY Mellon   12/15/2020    CAD    1,036    USD    1,046    -    (10)
BNY Mellon   12/15/2020    CHF    1,551,344    USD    1,560,345    -    (9,001)
BNY Mellon   12/15/2020    CLP    73,950    USD    74,869    -    (919)
BNY Mellon   12/15/2020    COP    22,944    USD    23,303    -    (359)
BNY Mellon   12/15/2020    CZK    3,842    USD    3,949    -    (107)
BNY Mellon   12/15/2020    DKK    506,194    USD    510,001    -    (3,807)
BNY Mellon   12/15/2020    EUR    3,623,847    USD    3,647,919    -    (24,072)
BNY Mellon   12/15/2020    HUF    7,747    USD    7,915    -    (168)
BNY Mellon   12/15/2020    IDR    147,760    USD    147,375    385    - 
BNY Mellon   12/15/2020    ILS    480,294    USD    485,800    -    (5,506)
BNY Mellon   12/15/2020    INR    1,028,319    USD    1,024,303    4,016    - 
BNY Mellon   12/15/2020    JPY    624,438    USD    621,556    2,882    - 
BNY Mellon   12/15/2020    MXP    168,163    USD    170,808    -    (2,645)
BNY Mellon   12/15/2020    NOK    627,506    USD    644,837    -    (17,331)
BNY Mellon   12/15/2020    NZD    265,816    USD    266,420    -    (604)
BNY Mellon   12/15/2020    PHP    59,403    USD    59,105    298    - 
BNY Mellon   12/15/2020    QAR    91,002    USD    90,963    39    - 
BNY Mellon   12/15/2020    RUB    87,976    USD    89,157    -    (1,181)
BNY Mellon   12/15/2020    SAR    229,323    USD    229,428    -    (105)
BNY Mellon   12/15/2020    SGD    486,923    USD    485,197    1,726    - 
BNY Mellon   12/15/2020    THB    286,529    USD    288,546    -    (2,017)
BNY Mellon   12/15/2020    TWD    2,016,850    USD    1,996,644    20,206    - 
BNY Mellon   12/15/2020    USD    616,707    AUD    609,941    6,766    - 
BNY Mellon   12/15/2020    USD    5,818,107    GBP    5,766,653    51,454    - 
BNY Mellon   12/15/2020    USD    5,200    HKD    5,199    1    - 
BNY Mellon   12/15/2020    USD    461,414    KRW    470,869    -    (9,455)
BNY Mellon   12/15/2020    USD    660,890    PLN    645,036    15,854    - 
BNY Mellon   12/15/2020    USD    2,309,181    SEK    2,269,433    39,748    - 
BNY Mellon   12/15/2020    USD    480,746    TRY    474,287    6,459    - 
BNY Mellon   12/15/2020    ZAR    293,673    USD    290,345    3,328    - 
Total                           $153,183   $(104,253)

 

See notes to Quarterly Statements of Investments.                       

 

 

 

SEGALL BRYANT & HAMILL GLOBAL ALL CAP FUND
STATEMENT OF INVESTMENTS
September 30, 2020 (Unaudited)
 
COMMON STOCKS - 96.6%  Shares  Value
Communications - 4.0%          
Cable & Satellite - 2.0%          
Comcast Corp. - Class A   15,502   $717,123 
           
Internet Media & Services - 2.0%          
Alphabet, Inc. - Class C (a)   489    718,634 
           
Consumer Discretionary - 10.3%          
Apparel & Textile Products - 1.9%          
adidas A.G. (Germany) (a)   2,139    690,866 
           
E-Commerce Discretionary - 2.8%          
Amazon.com, Inc. (a)   315    991,850 
           
Leisure Facilities & Services - 1.5%          
Starbucks Corp.   6,397    549,630 
           
Retail - Discretionary - 4.1%          
Home Depot, Inc. (The)   3,275    909,500 
O'Reilly Automotive, Inc. (a)   1,179    543,614 
         1,453,114 
Consumer Staples - 11.0%          
Beverages - 1.9%          
Asahi Group Holdings, Ltd. (Japan)   19,700    686,454 
           
Food - 5.0%          
Hain Celestial Group, Inc. (The) (a)   10,508    360,424 
Kerry Group PLC - Class A (Ireland) (a)   6,803    871,484 
Mondelēz International, Inc. - Class A   9,622    552,784 
         1,784,692 
Household Products - 2.6%          
Unilever PLC ADR (United Kingdom)   14,791    912,309 
           
Retail - Consumer Staples - 1.5%          
Costco Wholesale Corp.   1,559    553,445 

 

 

 

SEGALL BRYANT & HAMILL GLOBAL ALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 96.6% (Continued)  Shares  Value
Energy - 1.4%          
Oil & Gas Producers - 1.4%          
Chevron Corp.   7,110   $511,920 
           
Financials - 9.6%          
Asset Management - 1.5%          
Partners Group Holding A.G. (Switzerland)   583    536,153 
           
Banking - 2.5%          
JPMorgan Chase & Co.   9,494    913,987 
           
Insurance - 5.6%          
Aon PLC - Class A (Ireland)   4,476    923,399 
Globe Life, Inc.   6,757    539,884 
Reinsurance Group of America, Inc.   5,542    527,543 
         1,990,826 
Health Care - 15.2%          
Biotech & Pharma - 4.3%          
Novartis A.G. ADR (Switzerland)   8,052    700,202 
Zoetis, Inc.   4,987    824,700 
         1,524,902 
Health Care Facilities & Services - 6.4%          
Charles River Laboratories International, Inc. (a)   2,883    652,855 
Lonza Group A.G. (Switzerland)   1,296    799,669 
UnitedHealth Group, Inc.   2,737    853,315 
         2,305,839 
Medical Equipment & Devices - 4.5%          
Alcon, Inc. (Switzerland) (a)   17,152    976,806 
Bio-Techne Corp.   2,576    638,153 
         1,614,959 
Industrials - 11.3%          
Aerospace & Defense - 1.4%          
L3Harris Technologies, Inc.   2,971    504,595 
           
Commercial Support Services - 1.9%          
Compass Group PLC (United Kingdom)   45,019    676,251 

 

 

 

SEGALL BRYANT & HAMILL GLOBAL ALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 96.6% (Continued)  Shares  Value
Industrials - 11.3% (Continued)          
Electrical Equipment - 4.1%          
Keysight Technologies, Inc. (a)   5,512   $544,475 
Rockwell Automation, Inc.   2,508    553,466 
Roper Technologies, Inc.   912    360,340 
         1,458,281 
Engineering & Construction - 1.6%          
Quanta Services, Inc.   10,723    566,818 
           
Industrial Support Services - 1.3%          
Grainger (W.W.), Inc.   1,302    464,514 
           
Machinery - 1.0%          
Deere & Co.   1,645    364,581 
           
Materials - 6.0%          
Chemicals - 4.3%          
FMC Corp.   3,329    352,574 
Linde PLC (United Kingdom)   3,381    805,118 
Sherwin-Williams Co. (The)   514    358,124 
         1,515,816 
Metals & Mining - 1.7%          
Franco-Nevada Corp. (Canada)   4,403    614,571 
           
Technology - 25.1%          
Semiconductors - 6.9%          
Marvell Technology Group, Ltd. (Bermuda)   27,639    1,097,268 
Monolithic Power Systems, Inc.   1,380    385,862 
NXP Semiconductors N.V. (Netherlands)   8,028    1,001,975 
         2,485,105 
Software - 8.8%          
Adobe, Inc. (a)   1,103    540,944 
Dassault Systemes S.E. (France)   4,355    812,675 
Microsoft Corp.   5,954    1,252,305 
ServiceNow, Inc. (a)   1,141    553,385 
         3,159,309 

 

 

 

SEGALL BRYANT & HAMILL GLOBAL ALL CAP FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 96.6% (Continued)  Shares  Value
Technology - 25.1% (Continued)          
Technology Hardware - 2.3%          
Telefonaktiebolaget LM Ericsson - B Shares (Sweden)   74,291   $812,813 
           
Technology Services - 7.1%          
CoStar Group, Inc. (a)   641    543,895 
IHS Markit, Ltd.   9,105    714,834 
S&P Global, Inc.   1,534    553,160 
Visa, Inc. - Class A   3,570    713,893 
         2,525,782 
Utilities - 2.7%          
Electric Utilities - 2.7%          
Enel S.p.A. (Italy)   109,455    949,750 
           
Investments at Value - 96.6% (Cost $34,109,738)       $34,554,889 
           
Other Assets in Excess of Liabilities - 3.4%        1,202,609 
           
Net Assets - 100.0%       $35,757,498 

 

(a) Non-income producing security.

 

The Fund's sector and industry classifications presented herein refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. For Fund compliance purposes, sector and industry classifications are based on the sector and industry categorization methodology of the Adviser to the Funds. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

 

See notes to Quarterly Statements of Investments.

 

 

 

SEGALL BRYANT & HAMILL GLOBAL ALL CAP FUND
Country Breakdown
September 30, 2020 (Unaudited)
 
Country  Value  % of Net Assets
United States  $20,687,126    57.9%
Switzerland   3,012,830    8.4%
United Kingdom   2,393,678    6.7%
Ireland   1,794,883    5.0%
Bermuda   1,097,268    3.1%
Netherlands   1,001,975    2.8%
Italy   949,750    2.6%
Sweden   812,813    2.3%
France   812,675    2.3%
Germany   690,866    1.9%
Japan   686,454    1.9%
Canada   614,571    1.7%
Total Investments  $34,554,889    96.6%
Other Assets in Excess of Liabilities   1,202,609    3.4%
Net Assets  $35,757,498    100.0%

 

See notes to Quarterly Statements of Investments.

 

 

 

SEGALL BRYANT & HAMILL WORKPLACE EQUALITY FUND
STATEMENT OF INVESTMENTS
September 30, 2020 (Unaudited)
 
COMMON STOCKS - 96.4%  Shares  Value
Communications - 7.0%          
Cable & Satellite - 1.9%          
Comcast Corp. - Class A   7,596   $351,391 
           
Entertainment Content - 1.4%          
Walt Disney Co. (The)   2,070    256,845 
           
Internet Media & Services - 3.7%          
Alphabet, Inc. - Class C (a)   458    673,077 
           
Consumer Discretionary - 11.1%          
E-Commerce Discretionary - 4.3%          
Amazon.com, Inc. (a)   247    777,736 
           
Leisure Facilities & Services - 4.8%          
Chipotle Mexican Grill, Inc. (a)   216    268,641 
Darden Restaurants, Inc.   2,541    255,980 
Starbucks Corp.   4,120    353,991 
         878,612 
Retail - Discretionary - 2.0%          
Ross Stores, Inc.   3,982    371,600 
           
Consumer Staples - 7.7%          
Food - 3.8%          
Hain Celestial Group, Inc. (The) (a)   9,327    319,916 
Mondelēz International, Inc. - Class A   6,613    379,917 
         699,833 
Retail - Consumer Staples - 3.9%          
Dollar General Corp.   1,671    350,275 
Walmart, Inc.   2,503    350,195 
         700,470 
Energy - 0.8%          
Oil & Gas Producers - 0.8%          
Chevron Corp.   2,150    154,800 

 

 

 

SEGALL BRYANT & HAMILL WORKPLACE EQUALITY FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 96.4% (Continued)  Shares  Value
Financials - 8.6%          
Asset Management - 1.3%          
Blackstone Group, Inc. (The) - Class A   4,362   $227,697 
           
Banking - 2.3%          
JPMorgan Chase & Co.   4,386    422,240 
           
Institutional Financial Services - 1.4%          
Nasdaq, Inc.   2,090    256,464 
           
Insurance - 3.6%          
Arthur J. Gallagher & Co.   3,657    386,106 
Chubb, Ltd. (Switzerland)   2,335    271,140 
         657,246 
Health Care - 14.8%          
Biotech & Pharma - 3.5%          
Amgen, Inc.   1,609    408,943 
Vertex Pharmaceuticals, Inc. (a)   856    232,935 
         641,878 
Health Care Facilities & Services - 2.4%          
UnitedHealth Group, Inc.   1,376    428,996 
           
Medical Equipment & Devices - 8.9%          
Abbott Laboratories   4,481    487,667 
Alcon, Inc. (Switzerland) (a)   5,546    315,845 
Danaher Corp.   1,861    400,729 
Stryker Corp.   2,000    416,740 
         1,620,981 
Industrials - 9.7%          
Aerospace & Defense - 2.5%          
L3Harris Technologies, Inc.   1,493    253,571 
Lockheed Martin Corp.   559    214,254 
         467,825 
Commercial Support Services - 2.0%          
Republic Services, Inc.   3,871    361,358 

 

 

 

SEGALL BRYANT & HAMILL WORKPLACE EQUALITY FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 96.4% (Continued)  Shares  Value
Industrials - 9.7% (Continued)          
Electrical Equipment - 2.2%          
Rockwell Automation, Inc.   1,800   $397,224 
           
Industrial Support Services - 1.5%          
Grainger (W.W.), Inc.   767    273,642 
           
Machinery - 1.5%          
Deere & Co.   1,225    271,497 
           
Materials - 4.8%          
Chemicals - 4.8%          
Air Products & Chemicals, Inc.   899    267,776 
FMC Corp.   2,338    247,618 
Sherwin-Williams Co. (The)   515    358,821 
         874,215 
Real Estate - 1.4%          
REIT - 1.4%          
American Tower Corp.   1,053    254,542 
           
Technology - 29.2%          
Semiconductors - 4.7%          
NVIDIA Corp.   806    436,223 
Texas Instruments, Inc.   2,950    421,231 
         857,454 
Software - 8.8%          
Adobe, Inc. (a)   938    460,023 
Autodesk, Inc. (a)   1,589    367,075 
Microsoft Corp.   3,742    787,055 
         1,614,153 
Technology Hardware - 4.1%          
Apple, Inc.   6,436    745,353 
           
Technology Services - 11.6%          
Accenture PLC - Class A (Ireland)   1,373    310,284 
Booz Allen Hamilton Holding Corp.   4,036    334,907 
IHS Markit, Ltd.   4,076    320,007 

 

 

 

SEGALL BRYANT & HAMILL WORKPLACE EQUALITY FUND
STATEMENT OF INVESTMENTS (Continued)
 
COMMON STOCKS - 96.4% (Continued)  Shares  Value
Technology - 29.2% (Continued)          
Technology Services - 11.6% (Continued)          
PayPal Holdings, Inc. (a)   1,730   $340,862 
S&P Global, Inc.   970    349,782 
Visa, Inc. - Class A   2,278    455,532 
         2,111,374 
Utilities - 1.3%          
Electric Utilities - 1.3%          
American Electric Power Co., Inc.   2,861    233,829 
           
Investments at Value - 96.4% (Cost $16,303,691)       $17,582,332 
           
Other Assets in Excess of Liabilities - 3.6%        650,205 
           
Net Assets - 100.0%       $18,232,537 

 

(a) Non-income producing security.

 

The Fund's sector and industry classifications presented herein refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. For Fund compliance purposes, sector and industry classifications are based on the sector and industry categorization methodology of the Adviser to the Funds. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

 

See notes to Quarterly Statements of Investments.

 

 

 

SEGALL BRYANT & HAMILL SHORT TERM PLUS FUND
STATEMENT OF INVESTMENTS
September 30, 2020 (Unaudited)
 
CORPORATE BONDS - 86.8%  Coupon  Maturity  Par Value  Value
Finance - 1.5%                    
Real Estate Investment Trusts - 1.5%                    
Ventas Realty, LP   3.250%   08/15/22   $310,000   $322,288 
                     
General Obligation - 0.8%                    
Local - 0.8%                    
Stanley Black & Decker, Inc.   2.900%   11/01/22    170,000    178,467 
                     
Industrial - 69.6%                    
Automobile Manufacturing - 3.0%                    
General Motors Financial Co., Inc.   4.200%   11/06/21    387,000    399,583 
Paccar Financial Corp.   0.800%   06/08/23    240,000    241,680 
                   641,263 
Beverage / Bottling - 4.1%                    
Anheuser-Busch InBev S.A./N.V.   2.625%   01/17/23    345,000    360,209 
Brown Forman Corp.   2.250%   01/15/23    106,000    108,950 
Keurig Dr. Pepper, Inc.   4.057%   05/25/23    360,000    391,409 
                   860,568 
Chemicals - 1.9%                    
DowDuPont, Inc.   3.766%   11/15/20    393,000    394,613 
                     
Construction Machinery - 4.1%                    
Caterpillar Financial Services Corp.   0.650%   07/07/23    385,000    386,561 
CNH Industrial Capital LLC   4.875%   04/01/21    365,000    372,043 
John Deere Capital Corp., Series G (3MO LIBOR + 24) (a)   0.489%   03/12/21    105,000    105,107 
                   863,711 
Diversified Manufacturing - 3.2%                    
Amphenol Corp.   3.125%   09/15/21    196,000    199,962 
Eaton Electric Holdings LLC   3.875%   12/15/20    116,000    116,326 
Xylem, Inc.   4.875%   10/01/21    355,000    370,521 
                   686,809 
Electronics - 4.5%                    
Analog Devices, Inc.   2.875%   06/01/23    355,000    374,482 
Apple, Inc.   0.750%   05/11/23    150,000    151,294 
Corning, Inc.   2.900%   05/15/22    200,000    206,612 

 

 

 

SEGALL BRYANT & HAMILL SHORT TERM PLUS FUND
STATEMENT OF INVESTMENTS (Continued)
 
CORPORATE BONDS - 86.8% (Continued)  Coupon  Maturity  Par Value  Value
Electronics - 4.5% (Continued)                    
Dell International, LLC/EMC Corp., 144A (b)   5.450%   06/15/23   $200,000   $219,268 
                   951,656 
Food Processors – 3.0%                    
Kraft Heinz Foods Co.   4.000%   06/15/23    285,000    303,167 
Mondelēz International, Inc.   2.125%   04/13/23    315,000    326,930 
                   630,097 
Healthcare Facilities / Supplies - 3.5%                    
Baxter International, Inc., Series J   2.400%   08/15/22    335,000    344,523 
HCA, Inc.   4.750%   05/01/23    360,000    392,694 
                   737,217 
Independent Energy - 4.9%                    
Apache Corp.   3.625%   02/01/21    316,000    314,420 
Occidental Petroleum Corp.   4.850%   03/15/21    344,000    340,560 
PDC Energy, Inc., Series 2018-A, CV   1.125%   09/15/21    400,000    379,339 
                   1,034,319 
Information / Data Technology - 1.9%                    
Paypal Holdings, Inc.   1.350%   05/11/23    390,000    398,334 
                     
Leisure / Entertainment - 0.7%                    
Royal Caribbean Cruises, Ltd.   2.650%   11/28/20    151,000    150,245 
                     
Media - Cable - 1.8%                    
Time Warner Cable, Inc.   4.125%   02/15/21    75,000    75,293 
Time Warner Cable, Inc.   4.000%   09/01/21    301,000    307,448 
                   382,741 
Media - Non-Cable - 2.8%                    
21st Century Fox America, Inc.   4.500%   02/15/21    193,000    195,025 
Omnicom GP/Omnicom Capital   3.625%   05/01/22    380,000    397,956 
                   592,981 
Midstream Energy - 5.1%                    
Gulf South Pipeline Co., LP   4.000%   06/15/22    335,000    343,942 
Kinder Morgan, Inc.   3.150%   01/15/23    310,000    325,395 
Williams Partners, LP   4.500%   11/15/23    370,000    405,111 
                   1,074,448 
Packaging - 3.8%                    
Ball Corp.   4.000%   11/15/23    375,000    398,062 

 

 

 

SEGALL BRYANT & HAMILL SHORT TERM PLUS FUND
STATEMENT OF INVESTMENTS (Continued)
 
CORPORATE BONDS - 86.8% (Continued)  Coupon  Maturity  Par Value  Value
Packaging - 3.8% (Continued)                    
Crown Americas LLC / Crown Americas Capital Corp. IV   4.500%   01/15/23   $388,000   $402,550 
                   800,612 
Paper & Forest Products - 3.3%                    
Graphic Packaging International, Inc.   4.875%   11/15/22    335,000    347,981 
Weyerhaeuser Co.   4.625%   09/15/23    305,000    339,385 
                   687,366 
Railroads - 1.6%                    
Canadian Pacific Rail Road Co.   9.450%   08/01/21    310,000    332,621 
                     
Refining - 1.8%                    
Phillips 66   3.700%   04/06/23    350,000    374,638 
                     
Retail Stores - 1.3%                    
Best Buy Co., Inc.   5.500%   03/15/21    266,000    268,723 
                     
Services - 3.2%                    
QVC, Inc.   4.375%   03/15/23    380,000    395,056 
Service Corp. International   8.000%   11/15/21    275,000    292,187 
                   687,243 
Supermarkets - 0.1%                    
Kroger Co.   3.300%   01/15/21    31,000    31,189 
                     
Transportation Services - 3.0%                    
Continental Airlines, Inc., Series 2010-1, Class A   4.750%   07/12/22    71,142    70,461 
CSX Transportation, Inc.   6.251%   01/15/23    61,049    67,672 
Fedex Corp.   3.400%   01/14/22    310,000    321,327 
Hawaiian Airlines, Inc., Series 2013-1, Class B   4.950%   07/15/23    48,739    43,964 
U.S. Airways, Series 2013-1, Class B   5.375%   05/15/23    165,613    139,755 
                   643,179 
Wireless Telecommunications - 3.8%                    
American Tower Corp.   3.500%   01/31/23    380,000    403,905 
T-Mobile USA, Inc.   4.000%   04/15/22    385,000    396,554 
                   800,459 

 

 

 

SEGALL BRYANT & HAMILL SHORT TERM PLUS FUND
STATEMENT OF INVESTMENTS (Continued)
 
CORPORATE BONDS - 86.8% (Continued)  Coupon  Maturity  Par Value  Value
Wireline Telecommunications - 3.2%                    
Qwest Corp.   6.750%   12/01/21   $355,000   $374,546 
Verizon Communications, Inc.   5.150%   09/15/23    265,000    299,648 
                   674,194 
Utility - 14.9%                    
Electric - 14.9%                    
Ameren Corp.   2.700%   11/15/20    341,000    341,283 
Delmarva Power & Light Co.   3.500%   11/15/23    295,000    320,188 
Detroit Edison Co., Series 2012-A   2.650%   06/15/22    100,000    103,112 
Dominion Energy, Inc., Series A-1 (Yield of Treasury 2.125% 05/21 + 97) (c)   2.715%   08/15/21    380,000    386,953 
Duke Energy Carolinas LLC   3.900%   06/15/21    210,000    213,422 
Eversource Energy, Series I   2.500%   03/15/21    298,000    300,439 
Florida Power & Light Co. (a)   0.641%   07/28/23    335,000    335,244 
Georgia Power Co., Series 2020-A   2.100%   07/30/23    310,000    323,586 
Oncor Electric Delivery Co.   4.100%   06/01/22    85,000    89,237 
Oncor Electric Delivery Co.   7.000%   09/01/22    140,000    157,450 
PPL Electrc Utilities Corp.   2.500%   09/01/22    190,000    196,893 
WEC Energy Group, Inc.   3.100%   03/08/22    360,000    373,902 
                   3,141,709 
                     
Total Corporate Bonds (Cost $18,292,968)                 $18,341,690 

 

MUNICIPAL BONDS - 4.1%  Coupon  Maturity  Par Value  Value
California - 0.8%                    
San Diego California Public Facilities Financing Authority Senior Water Revenue Refunding Bonds, Series 2020-B   1.231%   08/01/22   $160,000   $162,397 
                     
Maryland - 0.4%                    
Howard County, Maryland Refunding Consolidated Public Improvement Project and Refunding Bonds, Series 2020-C   1.224%   08/15/22    70,000    70,752 

 

 

 

SEGALL BRYANT & HAMILL SHORT TERM PLUS FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 4.1% (Continued)  Coupon  Maturity  Par Value  Value
Maryland - 0.4% (Continued)                    
State of Maryland, Series 2010-A   4.200%   03/01/21   $10,000   $10,163 
                   80,915 
New Jersey - 0.6%                    
New Jersey Economic Development Authority Water Facilities, Series 2020-C   1.150%   06/01/23    125,000    126,855 
                     
New York - 0.0% (d)                    
New York State Urban Development Corp., Series 2011-B   2.790%   03/15/21    10,000    10,095 
                     
Texas - 2.3%                    
Austin Texas Community College, Series 2020   0.662%   02/01/23    50,000    50,005 
Central Texas Regional Mobility Authority, Series 2020-D   1.307%   01/01/22    100,000    99,965 
Central Texas Regional Mobility Authority, Series 2020-C   1.345%   01/01/24    135,000    134,642 
Fort Bend County Texas, Series 2020   5.000%   03/01/23    185,000    204,197 
                   488,809 
                     
Total Municipal Bonds (Cost $862,322)                 $869,071 

 

ASSET BACKED SECURITIES - 0.1%  Coupon  Maturity  Par Value  Value
Honda Auto Receivables Owner Trust, Series 2017-2, Class A-3   1.680%   08/16/21   $1,010   $1,011 

John Deere Owner Trust,

Series 2017-B, Class A-3

   1.820%   10/15/21    2,945    2,947 
Toyota Auto Receivables Owner Trust, Series 2017-B, Class A-3   1.760%   07/15/21    708    708 

Verizon Owner Trust,

Series 2018-A, Class A-1A (a)

   3.230%   04/20/23    18,000    18,279 
Total Asset Backed Securities (Cost $22,704)                 $22,945 

 

 

 

SEGALL BRYANT & HAMILL SHORT TERM PLUS FUND

STATEMENT OF INVESTMENTS (Continued)

 

COMMERCIAL MORTGAGE-BACKED SECURITIES - 0.1%  Coupon  Maturity  Par Value  Value
FNMA Remic Trust, Series 2012-M13, Class A-2 (Cost $11,312)   2.377%   05/25/22   $11,213   $11,485 

 

U.S. TREASURY BONDS & NOTES - 1.0%  Coupon  Maturity  Par Value  Value
United States Treasury (Cost $217,118)   2.250%   04/15/22   $215,000   $221,945 
                     
Investments at Value - 92.1% (Cost $19,406,424)                 $19,467,136 
                     
Other Assets in Excess of Liabilities - 7.9%                  1,668,430 
                     
Net Assets - 100.0%                 $21,135,566 

 

(a)

Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of September 30, 2020. For securities based on a published reference rate and spread, the reference rate and spread (in basis points) are indicated parenthetically. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities, therefore, do not indicate a reference rate and spread. 

(b)

Security was purchased in a transaction exempt from registration in compliance with Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities are restricted. See the table on the following page for additional information regarding each restricted security. 

(c)

Step coupon. Rate shown is the coupon in effect as of September 30, 2020; reference rate and spread (in basis points) are indicated parenthetically. 

(d) Percentage rounds to less than 0.1%

 

The Fund's sector and industry classifications presented herein refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. For Fund compliance purposes, sector and industry classifications are based on the sector and industry categorization methodology of the Adviser to the Funds. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

 

See notes to Quarterly Statements of Investments.

 

 

 

 

SEGALL BRYANT & HAMILL SHORT TERM PLUS FUND
RESTRICTED SECURITIES
September 30, 2020 (Unaudited)
Issuer Description  Coupon  Maturity Date  Acquisition Date  Cost  Value  Value as a Percentage of Net Assets
Dell International, LLC/EMC Corp., 144A   5.450%  06/05/23  06/03/20  $215,624   $219,268    1.04%

 

See notes to Quarterly Statements of Investments.                    

 

 

 

SEGALL BRYANT & HAMILL PLUS BOND FUND
STATEMENT OF INVESTMENTS
September 30, 2020 (Unaudited)
 
CORPORATE BONDS - 47.8%  Coupon  Maturity  Par Value  Value
Finance - 9.7%                    
Banking - 4.3%                    
Bank of America Corp., Series N (a)   1.898%   07/23/31   $3,700,000   $3,683,720 
Bank of America Corp., Series N   4.083%   03/20/51    3,000,000    3,706,834 
Capital One Financial Corp.   3.200%   02/05/25    11,640,000    12,572,682 
JPMorgan Chase & Co.   3.125%   01/23/25    7,285,000    7,945,447 
PNC Bank NA   2.700%   11/01/22    6,675,000    6,972,840 
Truist Financial Corp., Series G   2.850%   10/26/24    3,676,000    3,982,784 
Wells Fargo & Co., Series Q   2.406%   10/30/25    7,725,000    8,093,432 
                   46,957,739 
Broker/Asset Managers/Exchanges - 1.7%                    
Cboe Global Markets, Inc.   3.650%   01/12/27    9,800,000    11,138,153 
FMR LLC, 144A (b) (c)   5.350%   11/15/21    3,351,000    3,531,409 
FMR LLC, 144A (b) (c)   6.450%   11/15/39    2,575,000    3,924,855 
                   18,594,417 
Life Insurance - 1.3%                    
Aviation Capital Group LLC, 144A (b) (c)   3.875%   05/01/23    4,250,000    4,205,654 
Massachusetts Mutual Life Insurance Co., 144A (b) (c)   3.729%   10/15/70    2,279,000    2,343,106 
Northwestern Mutual Life Insurance Co. (The), 144A (b) (c)   3.850%   09/30/47    6,775,000    7,637,789 
                   14,186,549 
Mortgage Banking - 0.6%                    
Provident Funding Associates LP/PFG Finance Corp., 144A (b) (c)   6.375%   06/15/25    6,195,000    5,993,663 
                     
Noncaptive Diversified Financial Companies - 0.4%                    
Aircastle, Ltd.   5.000%   04/01/23    3,000,000    3,006,575 
GATX Corp.   4.000%   06/30/30    1,575,000    1,813,099 
                   4,819,674 
Real Estate Investment Trusts - 1.4%                    
MPT Operating Partnership LP/MPT Finance Corp.   5.000%   10/15/27    6,175,000    6,438,673 
Ventas Realty LP   3.500%   04/15/24    3,000,000    3,206,128 
Ventas Realty LP   4.400%   01/15/29    2,955,000    3,355,152 

 

 

 

SEGALL BRYANT & HAMILL PLUS BOND FUND
STATEMENT OF INVESTMENTS (Continued)
 
CORPORATE BONDS - 47.8% (Continued)  Coupon  Maturity  Par Value  Value
Real Estate Investment Trusts - 1.4% (Continued)                    
Washington REIT   3.950%   10/15/22   $2,025,000   $2,089,725 
                   15,089,678 
Industrial - 35.0%                    
Aerospace / Defense - 0.7%                    
Airbus Finance BV, 144A (b) (c)   2.700%   04/17/23    1,860,000    1,943,722 
Hexcel Corp.   4.700%   08/15/25    1,466,000    1,626,981 
Raytheon Co.   3.150%   12/15/24    3,696,000    3,991,987 
                   7,562,690 
Automobile Manufacturing - 1.8%                    
General Motors Financial Co., Inc.   4.200%   11/06/21    2,500,000    2,581,287 
General Motors Financial Co., Inc.   3.950%   04/13/24    4,425,000    4,681,186 
Goodyear Tire & Rubber Co.   5.125%   11/15/23    2,000,000    1,995,000 
Goodyear Tire & Rubber Co.   9.500%   05/31/25    1,500,000    1,627,545 
Harley-Davidson Financial Services, Inc., 144A (b) (c)   4.050%   02/04/22    8,600,000    8,887,281 
                   19,772,299 
Beverage / Bottling - 1.5%                    
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.   4.900%   02/01/46    5,700,000    7,065,652 
Fomento Economico Mexicano  S.A.B. de C.V.   2.875%   05/10/23    7,548,000    7,847,304 
PepsiCo, Inc.   3.875%   03/19/60    1,575,000    1,983,000 
                   16,895,956 
Building Products - 1.5%                    
Allegion PLC   3.500%   10/01/29    5,063,000    5,539,096 
Allegion US Holding Co., Inc.   3.550%   10/01/27    2,550,000    2,772,000 
Masco Corp.   6.500%   08/15/32    6,205,000    8,035,123 
                   16,346,219 
Construction Machinery - 1.2%                    
CNH Industrial N.V.   4.500%   08/15/23    3,275,000    3,557,092 
Deere & Co.   3.750%   04/15/50    1,590,000    1,971,798 
H&E Equipment Services, Inc.   5.625%   09/01/25    4,240,000    4,420,200 
John Deere Capital Corp.   1.750%   03/09/27    2,045,000    2,137,637 
United Rentals North America   3.875%   02/15/31    490,000    497,350 
                   12,584,077 

 

 

 

SEGALL BRYANT & HAMILL PLUS BOND FUND
STATEMENT OF INVESTMENTS (Continued)
 
CORPORATE BONDS - 47.8% (Continued)  Coupon  Maturity  Par Value  Value
Consumer Products - 0.5%                    
Vista Outdoor, Inc.   5.875%   10/01/23   $5,175,000   $5,187,938 
                     
Diversified Manufacturing - 0.8%                    
Roper Technologies, Inc.   3.650%   09/15/23    7,991,000    8,684,586 
                     
Electronics - 1.7%                    
Amkor Technology, Inc., 144A (b) (c)   6.625%   09/15/27    4,422,000    4,744,231 
Analog Devices, Inc.   2.950%   04/01/25    3,900,000    4,241,709 
Dell, Inc.   7.100%   04/15/28    4,492,000    5,470,762 
QORVO, Inc.   5.500%   07/15/26    2,900,000    3,075,624 
QORVO, Inc., 144A (b)   4.375%   10/15/29    775,000    823,438 
QORVO, Inc., 144A (b) (c)   3.375%   04/01/31    500,000    508,563 
                   18,864,327 
Food Processors - 0.4%                    
Kraft Heinz Food Co.   4.625%   01/30/29    3,495,000    3,888,928 
                     
Gaming - 0.5%                    
MGM Growth Properties Operating Partnership LP/MGP Finance Co.   5.625%   05/01/24    5,199,000    5,512,396 
                     
Healthcare Facilities / Supplies - 0.5%                    
Hologic, Inc., 144A (b) (c)   4.625%   02/01/28    3,146,000    3,304,495 
Teleflex, Inc.   4.625%   11/15/27    1,390,000    1,462,975 
Teleflex, Inc., 144A (b) (c)   4.250%   06/01/28    350,000    362,250 
                   5,129,720 
Independent Energy - 2.6%                    
Apache Corp.   3.625%   02/01/21    995,000    990,025 
Apache Corp.   3.250%   04/15/22    1,670,000    1,646,787 
Diamondback Energy, Inc.   3.250%   12/01/26    6,790,000    6,798,451 
Occidental Petroleum Corp.   7.500%   05/01/31    6,085,000    5,780,750 
PDC Energy, Inc., Series 2018-A, CV   1.125%   09/15/21    8,025,000    7,610,483 
Range Resources Corp.   4.875%   05/15/25    6,400,000    5,776,640 
                   28,603,136 
Information / Data Technology - 0.8%                    
Fiserv, Inc.   3.200%   07/01/26    7,475,000    8,303,077 

 

 

 

SEGALL BRYANT & HAMILL PLUS BOND FUND
STATEMENT OF INVESTMENTS (Continued)
 
CORPORATE BONDS - 47.8% (Continued)  Coupon  Maturity  Par Value  Value
Lease / Rent - 1.0%                    
SBA Tower Trust, 144A, Series 2019-1C, Class 1C (b) (c)   2.836%   01/15/50   $10,000,000   $10,524,400 
                     
Leisure / Entertainment - 1.0%                    
Carnival Corp.   3.950%   10/15/20    5,312,000    5,298,720 
Royal Caribbean Cruises, Ltd.   2.650%   11/28/20    5,578,000    5,550,110 
                   10,848,830 
Media - Cable - 1.7%                    
CCO Holdings LLC/CCO Holdings Capital Corp., 144A (b) (c)   5.000%   02/01/28    3,000,000    3,153,750 
Comcast Corp.   2.350%   01/15/27    8,200,000    8,809,253 
Dish DBS Corp.   5.875%   07/15/22    2,545,000    2,646,800 
Sirius XM Radio, Inc., 144A (b) (c)   5.375%   07/15/26    4,000,000    4,162,800 
                   18,772,603 
Media - Non-Cable - 1.9%                    
AMC Networks, Inc.   4.750%   12/15/22    1,421,000    1,420,822 
Lamar Media Corp., 144A (b) (c)   3.750%   02/15/28    2,400,000    2,388,000 
Moody's Corp.   4.875%   02/15/24    9,235,000    10,437,449 
Netflix, Inc.   4.875%   04/15/28    1,000,000    1,117,500 
Netflix, Inc.   6.375%   05/15/29    1,000,000    1,230,000 
Netflix, Inc., 144A (b) (c)   4.875%   06/15/30    350,000    399,000 
Walt Disney Co. (The)   4.625%   03/23/40    2,630,000    3,324,981 
                   20,317,752 
Metals / Mining - 0.5%                    
FMG Resources August 2006   Pty., Ltd., 144A (b) (c)   4.750%   05/15/22    5,370,000    5,497,538 
                     
Midstream Energy - 3.8%                    
AmeriGas Partners LP/AmeriGas Financial Corp.   5.625%   05/20/24    5,932,000    6,275,403 
Boardwalk Pipelines LP   3.375%   02/01/23    5,305,000    5,446,612 
Boardwalk Pipelines LP   4.950%   12/15/24    3,015,000    3,309,739 
Magellan Midstream Partners LP   5.000%   03/01/26    6,125,000    7,138,841 
MPLX LP   4.875%   06/01/25    5,225,000    5,922,518 
Tennessee Gas Pipeline Co. LLC   8.375%   06/15/32    5,284,000    7,261,717 

 

 

 

SEGALL BRYANT & HAMILL PLUS BOND FUND
STATEMENT OF INVESTMENTS (Continued)
 
CORPORATE BONDS - 47.8% (Continued)  Coupon  Maturity  Par Value  Value
Midstream Energy - 3.8% (Continued)                    
Valero Energy Partners LP   4.375%   12/15/26   $5,187,000   $5,814,504 
                   41,169,334 
Oil Field Services - 0.1%                    
Burlington Resources, Inc.   6.875%   02/15/26    1,000,000    1,217,801 
                     
Packaging - 1.4%                    
Avery Dennison Corp.   4.875%   12/06/28    5,775,000    7,175,184 
Ball Corp.   4.875%   03/15/26    4,500,000    5,017,500 
Silgan Holdings, Inc.   4.750%   03/15/25    779,000    792,633 
Silgan Holdings, Inc.   4.125%   02/01/28    2,770,000    2,825,400 
                   15,810,717 
Paper & Forest Products - 0.8%                    
Georgia-Pacific LLC, 144A (b) (c)   5.400%   11/01/20    2,078,000    2,086,170 
Graphic Packaging International, Inc.   4.875%   11/15/22    1,151,000    1,195,601 
West Fraser Timber Co., Ltd., 144A (b) (c)   4.350%   10/15/24    5,220,000    5,395,385 
                   8,677,156 
Railroads - 0.3%                    
Kansas City Southern   2.875%   11/15/29    3,293,000    3,488,411 
                     
Restaurants - 0.2%                    
Starbucks Corp., CV   2.000%   03/12/27    2,000,000    2,114,520 
                     
Retail Stores - 1.1%                    
AutoNation, Inc.   4.750%   06/01/30    3,369,000    3,987,065 
DriveTime Automotive Group, Inc./Bridgecrest Acceptance Corp., 144A (b) (c)   8.000%   06/01/21    3,120,000    3,127,800 
Hanesbrands, Inc., 144A (b) (c)   4.625%   05/15/24    2,491,000    2,590,117 
Hanesbrands, Inc., 144A (b) (c)   4.875%   05/15/26    2,000,000    2,135,000 
                   11,839,982 
Services - 2.2%                    
Block Financial LLC   3.875%   08/15/30    5,340,000    5,364,158 
Quanta Services, Inc.   2.900%   10/01/30    8,000,000    8,166,750 
QVC, Inc.   4.850%   04/01/24    5,122,000    5,353,002 
QVC, Inc.   4.750%   02/15/27    2,085,000    2,141,316 
Service Corp. International   4.625%   12/15/27    483,000    511,589 

 

 

 

SEGALL BRYANT & HAMILL PLUS BOND FUND
STATEMENT OF INVESTMENTS (Continued)
 
CORPORATE BONDS - 47.8% (Continued)  Coupon  Maturity  Par Value  Value
Services - 2.2% (Continued)                    
Service Corp. International   5.125%   06/01/29   $2,700,000   $2,991,951 
                   24,528,766 
Supermarkets - 0.7%                    
Alimentation Couche-Tard, Inc., 144A (b) (c)   3.550%   07/26/27    4,660,000    5,213,193 
Tesco PLC, 144A (b) (c)   6.150%   11/15/37    2,146,000    2,766,200 
                   7,979,393 
Transportation Services - 1.4%                    
American Airlines, Inc., Series 2013-2, Class A (c)   4.950%   07/15/24    7,125,487    6,110,152 
FedEx Corp.   3.900%   02/01/35    6,190,000    7,019,643 
United Parcel Service, Inc.   5.200%   04/01/40    1,540,000    2,108,638 
                   15,238,433 
Vehicle Parts - 0.4%                    
Meritor, Inc., 144A (b) (c)   6.250%   06/01/25    4,162,000    4,349,290 
                     
Wireless Telecommunications - 0.4%                    
T-Mobile, Inc., 144A (b) (c)   3.875%   04/15/30    3,600,000    4,093,308 
                     
Wireline Telecommunications - 1.6%                    
AT&T, Inc.   3.500%   06/01/41    1,275,000    1,340,917 
AT&T, Inc., 144A (b) (c)   3.550%   09/15/55    3,362,000    3,216,083 
Qwest Corp.   6.750%   12/01/21    6,536,000    6,895,872 
Verizon Communications, Inc.   4.400%   11/01/34    4,625,000    5,770,228 
                   17,223,100 
Utility - 3.1%                    
Electric - 3.1%                    
Nevada Power Co.   6.750%   07/01/37    2,850,000    4,314,696 
NextEra Energy Capital Holdings, Inc., Series I   2.403%   09/01/21    1,655,000    1,686,442 
NV Energy, Inc.   6.250%   11/15/20    2,881,000    2,901,441 
Oncor Electric Delivery Co. LLC   4.100%   06/01/22    4,730,000    4,965,753 
Oncor Electric Delivery Co. LLC   5.750%   03/15/29    4,725,000    6,206,114 
Tenaska Alabama II Partners LP, 144A (b) (c)   6.125%   03/30/23    76,739    80,045 
Tenaska Virginia Partners LP, 144A (b) (c)   6.119%   03/30/24    82,860    88,459 
Virginia Electric & Power Co., Series A   6.000%   05/15/37    5,581,000    8,045,585 

 

 

 

SEGALL BRYANT & HAMILL PLUS BOND FUND
STATEMENT OF INVESTMENTS (Continued)
 
CORPORATE BONDS - 47.8% (Continued)  Coupon  Maturity  Par Value  Value
Electric - 3.1% (Continued)                    
Vistra Operations Co. LLC, 144A (b) (c)   5.000%   07/31/27   $5,100,000   $5,356,275 
                   33,644,810 
                     
Total Corporate Bonds (Cost $493,436,332)                 $520,313,213 

 

MUNICIPAL BONDS - 9.3%  Coupon  Maturity  Par Value  Value
California - 2.9%                    
California Educational Facilities Authority, Series 2018-A   4.842%   10/01/48   $3,635,000   $4,121,654 
City of San Francisco, CA, Public Utilities Commission Water Revenue, Series 2010-B   6.000%   11/01/40    7,750,000    11,239,903 
Foothill Eastern Transportation Corridor Agency Toll Road, Series 2013-A   5.750%   01/15/46    4,500,000    4,984,380 
San Diego County Regional Airport Authority, Series 2014-B   5.594%   07/01/43    3,215,000    3,416,098 
University of California, Series 2013-AJ   4.601%   05/15/31    6,390,000    7,731,836 
                   31,493,871 
Colorado - 0.4%                    
Denver Colorado Public Schools,  Series 2013-B   4.242%   12/15/37    3,900,000    4,729,179 
                     
District of Columbia - 0.4%                    
District of Columbia Income Tax,  Series 2009-E   5.591%   12/01/34    2,880,000    3,933,072 
                     
Massachusetts - 0.9%                    
Commonwealth of Massachusetts, Series 2019-D   2.663%   09/01/39    9,380,000    10,215,477 
                     
New York - 0.8%                    
New York City Transitional Finance Authority, Series B SUB B-3   3.950%   08/01/32    7,665,000    8,754,733 

 

 

 

SEGALL BRYANT & HAMILL PLUS BOND FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 9.3% (Continued)  Coupon  Maturity  Par Value  Value
Texas - 1.6%                    
Central Texas Regional Mobility Authority, Series 2020-D   3.593%   01/01/42   $4,950,000   $4,899,560 
Dallas Area Rapid Transit, Series 2010-B   4.920%   12/01/41    6,110,000    8,497,299 
Texas Transportation Commission Central Texas Turnpike System, Series 2020-B   1.980%   08/15/42    4,025,000    4,044,079 
                   17,440,938 
Utah - 0.6%                    
Utah Transit Authority Sales Tax Revenue, Series 2020   2.774%   12/15/38    5,925,000    5,993,375 
                     
Virginia - 0.8%                    
Virginia Small Business Financing Authority, Series 2017 (a) (d)   2.935%   07/01/50    9,000,000    8,990,190 
                     
Washington - 0.9%                    
Port of Seattle Washington, Series 2017-B   3.755%   05/01/36    1,925,000    2,035,861 
State of Washington, Series 2010-D   5.481%   08/01/39    5,275,000    7,737,317 
                   9,773,178 
                     
Total Municipal Bonds (Cost $93,205,655)                 $101,324,013 

 

ASSET BACKED SECURITIES - 2.7%  Coupon  Maturity  Par Value  Value
Bear Stearns, Series 2003-AC4, Class A (e)   5.500%   09/25/33   $3,256,070   $3,362,508 
CWABS Asset-Backed Certificates Trust, Series 2005-1, Class AF-6 (a)   5.030%   07/25/35    16,996    17,267 
Deephaven Residential Mortgage Trust, Series 2017-3, Class A-3, 144A (a) (b) (c)   2.813%   10/25/47    417,710    422,229 
Deephaven Residential Mortgage Trust, Series 2018-1, Class A-3, 144A (a) (b) (c)   3.200%   01/25/58    764,967    768,036 
Deephaven Residential Mortgage Trust, Series 2018-2, Class A-1, 144A (a) (b) (c)   3.479%   04/25/58    2,574,849    2,623,201 
GTP Acquisition Partners I LLC,   Series 2015-1-2, Class A 15-2, 144A (b) (c)   3.482%   06/16/25    10,800,000    11,652,763 

InSite Issuer LLC,

Series 2016-1, Class C, 144A (b) (c)

   6.414%   11/15/46    5,790,000    5,910,508 

 

 

 

SEGALL BRYANT & HAMILL PLUS BOND FUND
STATEMENT OF INVESTMENTS (Continued)
 
ASSET BACKED SECURITIES - 2.7% (Continued)  Coupon  Maturity  Par Value  Value

John Deere Owner Trust,

Series 2018-B, Class A-3

   3.080%   11/15/22   $3,168,012   $3,212,148 
Renaissance Home Equity Loan Trust, Series 2005-2, Class A-F6 (a) (e)   4.780%   08/25/35    667,356    699,950 
Sierra Timeshare Conduit Receivables Funding LLC, Series 2017-1, Class A, 144A (b) (c)   2.910%   03/20/34    858,166    872,755 
Total Asset Backed Securities (Cost $27,233,623)                 $29,541,365 

 

MORTGAGE-BACKED SECURITIES PASSTHROUGH - 23.3%  Coupon  Maturity  Par Value  Value
Fannie Mae Pool - 15.4%                    
Pool #AC8938   4.500%   01/01/25   $1,348,029   $1,433,905 
Pool #AD4268   4.500%   03/01/25    865,792    919,454 
Pool #MA3125   3.000%   09/01/32    9,725,861    10,213,588 
Pool #725705   5.000%   08/01/34    121,617    139,757 
Pool #735288   5.000%   03/01/35    657,495    755,457 
Pool #MA4075   2.500%   07/01/35    6,932,827    7,255,670 
Pool #MA4095   2.000%   08/01/35    18,558,110    19,294,202 
Pool #MA2354, Series 2015   3.500%   08/01/35    7,064,243    7,632,287 
Pool #MA4155   2.000%   10/01/35    20,000,000    20,793,645 
Pool #735897   5.500%   10/01/35    473,145    556,054 
Pool #745275   5.000%   02/01/36    656,053    754,670 
Pool #888016   5.500%   05/01/36    826,463    973,959 
Pool #190377   5.000%   11/01/36    630,112    725,063 
Pool #888405   5.000%   12/01/36    133,119    153,349 
Pool #910881   5.000%   02/01/37    135,407    141,656 
Pool #889108   6.000%   02/01/38    429,191    502,426 
Pool #889579   6.000%   05/01/38    728,797    858,627 
Pool #995838   5.500%   05/01/39    593,933    689,274 
Pool #BM3090, Series 2017   3.500%   02/01/41    4,761,270    5,147,819 
Pool #AL3287, Series 2013   4.500%   09/01/41    2,644,624    2,977,082 
Pool #AL0933, Series 2011   5.000%   10/01/41    754,153    868,812 
Pool #AL5315, Series 2014   4.000%   06/01/42    1,644,779    1,816,837 
Pool #AU1628, Series 2013   3.000%   07/01/43    2,160,751    2,301,679 
Pool #MA1700, Series 2013   4.500%   12/01/43    1,998,703    2,240,824 
Pool #MA1971   4.500%   06/01/44    331,118    367,272 

 

 

 

SEGALL BRYANT & HAMILL PLUS BOND FUND
STATEMENT OF INVESTMENTS (Continued)
 
MORTGAGE-BACKED SECURITIES PASSTHROUGH - 23.3% (Continued)  Coupon  Maturity  Par Value  Value
Fannie Mae Pool - 15.4% (Continued)                    
Pool #MA2005   4.500%   08/01/44   $579,963   $644,191 
Pool #MA2145, Series 2014   4.000%   01/01/45    6,935,323    7,593,674 
Pool #AL7911, Series 2015   3.500%   12/01/45    5,787,872    6,319,171 
Pool #AS8461, Series 2016   3.500%   12/01/46    8,333,130    8,878,825 
Pool #AS8784   3.000%   02/01/47    1,617,937    1,700,233 
Pool #MA2956   3.000%   04/01/47    10,880,447    11,449,726 
Pool #MA2863   3.000%   12/01/47    6,795,907    7,143,733 
Pool #AL9242, Series 2016   3.000%   10/25/49    6,994,686    7,451,353 
Pool #BQ0309   2.500%   07/01/50    9,559,299    10,034,004 
Pool #MA4120   2.500%   09/01/50    15,546,613    16,318,643 
                   167,046,921 
Freddie Mac Gold Pool - 2.0%                    
Pool #G08061   5.500%   06/01/35    62,495    73,519 
Pool #G08079   5.000%   09/01/35    590,385    678,868 
Pool #G01960   5.000%   12/01/35    197,422    226,837 
Pool #A42128   5.500%   01/01/36    252,274    294,596 
Pool #G02064   5.000%   02/01/36    337,705    388,587 
Pool #G05200   5.000%   05/01/36    1,154,248    1,328,591 
Pool #G02252   5.500%   07/01/36    605,305    704,809 
Pool #G02386   6.000%   11/01/36    407,610    482,079 
Pool #G03189   6.500%   09/01/37    738,809    874,489 
Pool #G08607   4.500%   09/01/44    1,221,918    1,361,434 
Pool #G07961, Series 2015   3.500%   03/01/45    5,876,066    6,379,530 
Pool #G67700, Series 2016   3.500%   08/01/46    5,696,713    6,277,346 
Pool #G08747   3.000%   02/01/47    2,736,191    2,869,900 
                   21,940,585 
Freddie Mac Non-Gold Pool - 5.8%                    
Pool #781958 (a)   0.460%   09/01/34    52,467    55,263 
Pool #SB8057   2.000%   08/01/35    7,284,653    7,573,716 
Pool #SB8069   2.000%   10/01/35    12,950,000    13,463,894 
Pool #SD8083   2.500%   08/01/50    15,149,678    15,901,996 
Pool #QB3703   2.500%   09/01/50    10,000,000    10,496,590 
Pool #SD8092   3.000%   09/01/50    15,384,964    16,132,505 
                   63,623,964 

 

 

 

SEGALL BRYANT & HAMILL PLUS BOND FUND
STATEMENT OF INVESTMENTS (Continued)
 
MORTGAGE-BACKED SECURITIES PASSTHROUGH - 23.3% (Continued)  Coupon  Maturity  Par Value  Value
Ginnie Mae I Pool - 0.0% (f)                    
Pool #550656   5.000%   09/15/35   $95,161   $107,379 
                     
Ginnie Mae II Pool - 0.1%                    
Pool #G24496   5.000%   07/20/39    485,362    554,131 
                     
Total Mortgage-Backed Securities Passthrough (Cost $247,778,754)    $253,272,980 

 

RESIDENTIAL MORTGAGE-BACKED SECURITIES - 0.5%  Coupon  Maturity  Par Value  Value
Residential Mortgage-Backed Securities - 0.5%                    
American Home Mortgage Investment Trust, Series 2004-4, Class VI-A-1 (a) (e)   6.000%   02/25/45   $2,028,580   $2,115,227 
Banc of America Funding Trust,
Series 2005-4, Class 1-A-4		   5.500%   08/25/35   $72,063    74,906 
Banc of America Funding Trust,
Series 2005-4, Class 2-A-4		   5.500%   08/25/35   $106,896    109,899 
CHL Mortgage Pass-Through Trust, Series 2004-HYB2, Class 5-A (a)   4.609%   07/20/34   $998,774    970,224 
GSR Mortgage Loan Trust,
Series 2005-3F, Class 2A-3		   6.000%   03/25/35   $863,551    811,816 
PHMC Trust, Series 2007-2, Class A-2 (a)   5.447%   05/18/37   $454,072    461,044 

Sequoia Mortgage Trust,

Series 2017-CH2, Class A-10, 144A (a) (b) (c)

   4.000%   12/25/47   $1,315,520    1,324,560 
Total Residential Mortgage-Backed Securities (Cost $5,501,283)                 $5,867,676 

 

U.S. TREASURY BONDS & NOTES - 13.5%  Coupon  Maturity  Par Value  Value
United States Treasury   0.250%   05/31/25   $235,000   $234,963 
United States Treasury   2.250%   11/15/25    27,965,000    30,734,191 
United States Treasury   2.375%   05/15/27    3,725,000    4,198,482 
United States Treasury   2.625%   02/15/29    6,650,000    7,765,953 
United States Treasury   1.625%   08/15/29    5,000,000    5,442,188 
United States Treasury   3.125%   11/15/41    16,425,000    22,194,281 

 

 

 

SEGALL BRYANT & HAMILL PLUS BOND FUND

STATEMENT OF INVESTMENTS (Continued)

 

U.S. TREASURY BONDS & NOTES - 13.5% (Continued)  Coupon  Maturity  Par Value  Value
United States Treasury   3.750%   08/15/41   $4,500,000   $6,605,156 
United States Treasury   2.875%   05/15/43    20,805,000    27,165,153 
United States Treasury   2.500%   02/15/45    25,675,000    31,599,306 
United States Treasury   3.000%   02/15/49    120,000    164,034 
United States Treasury   1.250%   05/15/50    11,165,000    10,580,582 
Total U.S. Treasury Bonds & Notes (Cost $121,901,287)                 $146,684,289 
                     
Investments at Value - 97.1% (Cost $989,056,934)                 $1,057,003,536 
                     
Other Assets in Excess of Liabilities - 2.9%                  31,105,850 
                     
Net Assets - 100.0%                 $1,088,109,386 

 

(a) Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of September 30, 2020. For securities based on a published reference rate and spread, the reference rate and spread (in basis points) are indicated parenthetically. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities, therefore, do not indicate a reference rate and spread.
(b) Security was purchased in a transaction exempt from registration in compliance with Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities represent $138,407,321 or 12.7% of net assets as of September 30, 2020.
(c) Restricted security. See the table on the following page for additional information.
(d) Security can be called and redeemed at the option of the issuer prior to the stated maturity date which is included in the Statement of Investments.
(e) Step coupon. Rate shown is the coupon in effect as of September 30, 2020; reference rate and spread (in basis points) are indicated parenthetically.
(f) Percentage rounds to less than 0.1%.

 

The Fund's sector and industry classifications presented herein refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. For Fund compliance purposes, sector and industry classifications are based on the sector and industry categorization methodology of the Adviser to the Funds. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

 

See notes to Quarterly Statements of Investments.

 

 

 

SEGALL BRYANT & HAMILL PLUS BOND FUND
RESTRICTED SECURITIES
September 30, 2020 (Unaudited)
Issuer Description  Coupon  Maturity Date  Acquisition Date(s)  Cost  Value  Value as a Percentage of Net Assets
Airbus Finance BV, 144A   2.700%  04/17/23  08/16/16-12/02/16  $1,875,144   $1,943,722    0.18%
Alimentation Couche-Tard, Inc., 144A   3.550%  07/26/27  07/19/17-08/18/17   4,658,145    5,213,193    0.48%
American Airlines, Inc., Series 2013-2, Class A   4.950%  07/15/24  07/24/13-08/15/19   7,253,452    6,110,152    0.56%
Amkor Technology, Inc., 144A   6.625%  09/15/27  04/20/20-08/11/20   4,723,460    4,744,231    0.44%
AT&T, Inc., 144A   3.550%  09/15/55  9/21/2020   2,429,582    3,216,083    0.30%
Aviation Capital Group LLC, 144A   3.875%  05/01/23  12/10/18   4,197,365    4,205,654    0.39%
CCO Holdings LLC/CCO Holdings Capital Corp., 144A   5.875%  04/01/24  10/18/17   3,152,849    3,153,750    0.29%
Deephaven Residential Mortgage Trust, Series 2017-3, Class A-3, 144A   2.813%  10/25/47  11/01/17-06/28/18   417,262    422,229    0.04%
Deephaven Residential Mortgage Trust, Series 2018-1, Class A-3, 144A   3.202%  01/25/58  01/26/18   764,963    768,036    0.07%
Deephaven Residential Mortgage Trust, Series 2018-2, Class A-1, 144A   3.479%  04/25/58  05/23/18-02/03/20   2,572,174    2,623,201    0.24%
DriveTime Automotive Group, Inc./Bridgecrest Acceptance Corp., 144A   8.000%  06/01/21  04/20/16-05/26/16   3,069,204    3,127,800    0.29%
FMG Resources August 2006 Pty., Ltd., 144A   4.750%  05/15/22  6/18/19-09/18/20   5,287,224    5,497,538    0.51%
FMR LLC, 144A   5.350%  11/15/21  10/23/2019-04/13/20   3,464,435    3,531,409    0.32%
FMR LLC, 144A   6.450%  11/15/39  03/27/19   3,316,070    3,924,855    0.36%
Georgia-Pacific LLC, 144A   5.400%  11/01/20  10/30/19   2,083,760    2,086,170    0.19%
GTP Acquisition Partners I LLC, Series 2015-1-2, Class A 15-2, 144A   3.482%  06/16/25  05/20/15-05/27/15   10,811,606    11,652,763    1.07%
Hanesbrands, Inc., 144A   4.625%  05/15/24  03/18/20-06/02/20   2,380,696    2,590,117    0.24%
Hanesbrands, Inc., 144A   4.875%  05/15/26  04/02/20-06/04/20   2,008,786    2,135,000    0.20%
Harley-Davidson Financial Services, Inc., 144A   4.050%  02/04/22  01/31/19   8,596,855    8,887,281    0.82%
Hologic, Inc., 144A   4.625%  02/01/28  04/01/20-04/08/20   3,135,039    3,304,495    0.30%
InSite Issuer, LLC, Series 2016-1, Class C, 144A   6.414%  11/15/46  10/25/16-02/12/19   5,796,131    5,910,508    0.54%
Lamar Media Corp., 144A   3.750%  02/15/28  4/16/2020   2,350,881    2,388,000    0.22%
Massachusetts Mutual Life Insurance Co., 144A   3.729%  10/15/70  10/14/19   2,341,897    2,343,106    0.22%
Meritor, Inc., 144A   6.250%  06/01/25  07/30/20-08/11/20   4,421,524    4,349,290    0.40%
Netflix, Inc., 144A   4.875%  06/15/30  04/21/20   365,320    399,000    0.04%
Northwestern Mutual Life Insurance Co. (The), 144A   3.850%  09/30/47  05/23/18-09/30/19   6,263,966    7,637,789    0.70%
Provident Funding Associates LP/PFG Finance Corp., 144A   6.375%  06/15/25  05/24/17-03/24/20   5,759,584    5,993,663    0.55%
QORVO, Inc., 144A   3.375%  04/01/31  6/16/2020   500,000    508,563    0.05%
SBA Tower Trust, Series 2016-1, Class 2016-1-C1, 144A   2.877%  07/10/46  11/19/19-11/22/19   10,576,427    10,524,400    0.97%
Sequoia Mortgage Trust, Series 2017-CH2, Class A-10, 144A   4.000%  12/25/47  11/07/17-09/19/18   1,343,226    1,324,560    0.12%
Sierra Timeshare Conduit Receivables Funding LLC, Series 2017-1, Class A, 144A   2.910%  03/20/34  3/13/17-07/23/19   858,576    872,755    0.08%
Sirius XM Radio, Inc., 144A   5.375%  07/15/26  03/30/20-06/02/20   4,097,516    4,162,800    0.38%
Teleflex, Inc., 144A   4.250%  06/01/28  05/21/20   1,404,238    362,250    0.03%
Tenaska Alabama II Partners LP, 144A   6.125%  03/30/23  10/09/03-09/04/09   76,930    80,045    0.01%
Tenaska Virginia Partners LP, 144A   6.119%  03/30/24  04/29/04-06/26/14   82,847    88,459    0.01%
Tesco PLC, 144A   6.150%  11/15/37  10/07/14   2,255,240    2,766,200    0.25%
T-Mobile USA, Inc., 144A   3.875%  04/15/30  04/02/20   3,574,999    4,093,308    0.38%
Vistra Operations Co., LLC, 144A   5.000%  07/31/27  06/17/19-08/31/20   5,177,305    5,356,275    0.49%
West Fraser Timber Co., Ltd., 144A   4.350%  10/15/24  10/07/14   5,220,000    5,395,385    0.50%
              $138,664,678   $143,694,035    13.23%

 

See notes to Quarterly Statements of Investments.                          

 

 

 

SEGALL BRYANT & HAMILL QUALITY HIGH YIELD FUND
STATEMENT OF INVESTMENTS
September 30, 2020 (Unaudited)
 
CORPORATE BONDS - 95.9%  Coupon  Maturity  Par Value  Value
Finance - 8.9%                    
Gaming - 2.2%                    
MGM Growth Properties Operating Partnership LP   4.500%   01/15/28   $1,471,000   $1,498,581 
                     
Health Insurance - 1.1%                    
Centene Corp., 144A (a)   5.375%   06/01/26    725,000    765,216 
                     
Mortgage Banking - 2.2%                    
Provident Funding Associates LP/PFG Finance Corp., 144A (a)   6.375%   06/15/25    1,576,000    1,524,780 
                     
Noncaptive Diversified Financial Companies - 1.4%                    
Aircastle, Ltd., 144A (a)   5.250%   08/11/25    1,000,000    978,057 
                     
Real Estate Investment Trusts - 2.0%                    
MPT Operating Partnership LP/MPT Finance Corp.   5.000%   10/15/27    1,350,000    1,407,645 
                     
Industrial - 85.4%                    
Automobile Manufacturing - 3.3%                    
General Motors Co.   6.800%   10/01/27    850,000    1,032,982 
Goodyear Tire & Rubber Co.   9.500%   05/31/25    100,000    108,503 
Goodyear Tire & Rubber Co.   5.000%   05/31/26    470,000    456,661 
Goodyear Tire & Rubber Co.   4.875%   03/15/27    750,000    708,750 
                   2,306,896 
Building Products - 5.1%                    
James Hardie International Finance DAC, 144A (a)   4.750%   01/15/25    839,000    856,829 
Masco Corp.   6.500%   08/15/32    966,000    1,250,915 
Summit Materials LLC, 144A (a)   6.500%   03/15/27    525,000    559,125 
Summit Materials LLC, 144A (a)   5.250%   01/15/29    856,000    891,310 
                   3,558,179 
Chemicals - 4.4%                    
Axalta Coating Systems LLC, 144A (a)   4.750%   06/15/27    370,000    380,175 

 

 

 

SEGALL BRYANT & HAMILL QUALITY HIGH YIELD FUND
STATEMENT OF INVESTMENTS (Continued)
 
CORPORATE BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Chemicals - 4.4% (Continued)                    
Compass Minerals International, Inc., 144A (a)   4.875%   07/15/24   $1,200,000   $1,224,252 
Compass Minerals International, Inc., 144A (a)   6.750%   12/01/27    309,000    333,720 
Olin Corp.   5.125%   09/15/27    556,000    550,440 
Olin Corp.   5.000%   02/01/30    575,000    540,500 
                   3,029,087 
Construction Machinery - 2.9%                    
H&E Equipment Services, Inc.   5.625%   09/01/25    398,000    414,915 
United Rentals North America, Inc.   4.875%   01/15/28    1,496,000    1,570,800 
                   1,985,715 
Consumer Products - 1.8%                    
Vista Outdoor, Inc.   5.875%   10/01/23    1,250,000    1,253,125 
                     
Diversified Manufacturing - 1.6%                    
Wesco Distribution, Inc.   5.375%   06/15/24    1,106,000    1,135,032 
                     
Electronics - 5.2%                    
Amkor Technology, Inc., 144A (a)   6.625%   09/15/27    1,110,000    1,190,886 
Dell, Inc.   7.100%   04/15/28    655,000    797,718 
QORVO, Inc.   4.375%   10/15/29    1,282,000    1,362,125 
Sensata Technologies, Inc., 144A (a)   3.750%   02/15/31    250,000    248,438 
                   3,599,167 
Food Processors - 0.9%                    
Kraft Heinz Foods Co.   6.875%   01/26/39    466,000    623,270 
                     
Healthcare Facilities / Supplies - 5.0%                    
Hill-Rom Holdings, Inc., 144A (a)   5.000%   02/15/25    500,000    516,250 
Hologic, Inc., 144A (a)   3.250%   02/15/29    1,500,000    1,509,375 
Teleflex, Inc.   4.875%   06/01/26    595,000    614,337 
Teleflex, Inc.   4.625%   11/15/27    825,000    868,312 
                   3,508,274 
Independent Energy - 9.2%                    
Apache Corp.   4.875%   11/15/27    849,000    802,305 
Apache Corp.   4.250%   01/15/30    325,000    292,906 
Diamondback Energy, Inc.   3.500%   12/01/29    911,000    878,341 

 

 

 

SEGALL BRYANT & HAMILL QUALITY HIGH YIELD FUND
STATEMENT OF INVESTMENTS (Continued)
 
CORPORATE BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Independent Energy - 9.2% (Continued)                    
Occidental Petroleum Corp.   3.400%   04/15/26   $1,000,000   $797,500 
Occidental Petroleum Corp.   7.500%   05/01/31    296,000    281,200 
PDC Energy, Inc., Series 2018-A, CV   1.125%   09/15/21    1,442,000    1,367,516 
PDC Energy, Inc.   6.125%   09/15/24    290,000    276,225 
Range Resources Corp.   4.875%   05/15/25    1,850,000    1,669,810 
                   6,365,803 
Information / Data Technology - 0.8%                    
CDK Global, Inc.   5.000%   10/15/24    500,000    552,500 
                     
Leisure / Entertainment - 3.7%                    
Cedar Fair LP   5.375%   04/15/27    292,000    290,540 
Cedar Fair LP   5.250%   07/15/29    1,100,000    1,044,318 
Royal Caribbean Cruises, Ltd.   2.650%   11/28/20    1,267,000    1,260,665 
                   2,595,523 
Media - Cable - 2.4%                    
DISH DBS Corp.   5.875%   07/15/22    1,000,000    1,040,000 
Sirius XM Radio, Inc., 144A (a)   5.500%   07/01/29    600,000    645,120 
                   1,685,120 
Media - Non-Cable - 10.1%                    
AMC Networks, Inc.   4.750%   12/15/22    651,000    650,919 
Lamar Media Corp.   5.750%   02/01/26    183,000    188,948 
Lamar Media Corp., 144A (a)   3.750%   02/15/28    1,275,000    1,268,625 
Netflix, Inc.   5.875%   11/15/28    745,000    888,938 
Netflix, Inc., 144A (a)   4.875%   06/15/30    150,000    171,000 
Nexstar Broadcasting, Inc., 144A (a)   5.625%   07/15/27    1,385,000    1,452,796 
Nexstar Broadcasting, Inc., 144A (a)   4.750%   11/01/28    225,000    229,500 
Nielsen Co. (Luxembourg) SARL (The), 144A (a)   5.000%   02/01/25    750,000    762,187 
Outfront Media Capital LLC   5.625%   02/15/24    1,399,000    1,416,488 
                   7,029,401 
Metals / Mining - 2.0%                    
FMG Resources August 2006 Pty., Ltd., 144A (a)   5.125%   05/15/24    500,000    533,750 
FMG Resources August 2006 Pty., Ltd., 144A (a)   4.500%   09/15/27    800,000    854,008 
                   1,387,758 

 

 

 

SEGALL BRYANT & HAMILL QUALITY HIGH YIELD FUND
STATEMENT OF INVESTMENTS (Continued)
 
CORPORATE BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Midstream Energy - 4.1%                    
AmeriGas Partners LP/AmeriGas Financial Corp.   5.625%   05/20/24   $1,400,000   $1,481,046 
Tennessee Gas Pipeline Co. LLC   8.375%   06/15/32    1,019,000    1,400,395 
                   2,881,441 
Packaging - 2.1%                    
Berry Plastics Corp.   5.125%   07/15/23    374,000    379,647 
Silgan Holdings, Inc.   4.750%   03/15/25    751,000    764,142 
Silgan Holdings, Inc.   4.125%   02/01/28    275,000    280,500 
                   1,424,289 
Paper & Forest Products - 1.1%                    
West Fraser Timber Co., Ltd., 144A (a)   4.350%   10/15/24    770,000    795,871 
                     
Refining - 1.1%                    
Andeavor   5.375%   10/01/22    750,000    750,000 
                     
Restaurants - 1.7%                    
Aramark Services, Inc.   4.750%   06/01/26    1,200,000    1,214,160 
                     
Retail Stores – 4.0%                    
DriveTime Automotive Group, Inc./Bridgecrest Acceptance Corp., 144A (a)   8.000%   06/01/21    799,000    800,998 
Group 1 Automotive, Inc., 144A (a)   4.000%   08/15/28    664,000    652,380 
Hanesbrands, Inc., 144A (a)   4.625%   05/15/24    1,025,000    1,065,785 
Hanesbrands, Inc., 144A (a)   4.875%   05/15/26    250,000    266,875 
                   2,786,038 
Services - 4.6%                    
Quanta Services, Inc.   2.900%   10/01/30    1,400,000    1,429,181 
QVC, Inc.   4.850%   04/01/24    525,000    548,677 
QVC, Inc.   4.750%   02/15/27    680,000    698,367 
Service Corp. International   4.625%   12/15/27    501,000    530,654 
                   3,206,879 
Theater Entertainment - 0.9%                    
Cinemark USA, Inc.   4.875%   06/01/23    750,000    641,250 

 

 

 

SEGALL BRYANT & HAMILL QUALITY HIGH YIELD FUND
STATEMENT OF INVESTMENTS (Continued)
 
CORPORATE BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Vehicle Parts - 3.8%                    
Allison Transmission, Inc., 144A (a)   5.000%   10/01/24   $1,225,000   $1,237,324 
Meritor, Inc.   6.250%   02/15/24    250,000    255,000 
Meritor, Inc., 144A (a)   6.250%   06/01/25    1,110,000    1,159,950 
                   2,652,274 
Wireless Telecommunications - 1.8%                    
T-Mobile USA, Inc.   4.750%   02/01/28    1,142,000    1,221,643 
                     
Wireline Telecommunications - 1.8%                    
Lumen Technologies, Inc., Series W   6.750%   12/01/23    510,000    559,088 
Lumen Technologies, Inc.   7.995%   06/01/36    559,000    661,890 
                   1,220,978 
Utility - 1.6%                    
Electric - 1.6%                    
Vistra Operations Co. LLC, 144A (a)   5.000%   07/31/27    1,100,000    1,155,275 
                     
Total Corporate Bonds (Cost $65,321,733)                 $66,739,227 

 

 

 

SEGALL BRYANT & HAMILL QUALITY HIGH YIELD FUND
STATEMENT OF INVESTMENTS (Continued)
             
ASSET BACKED SECURITIES - 1.6%  Coupon  Maturity  Par Value  Value
InSite Issuer LLC, Series 2016-1, Class C, 144A (a) (Cost $1,101,353)   6.414%   11/15/46   $1,103,000   $1,125,957 
                     
Investments at Value - 97.5% (Cost $66,423,086)                 $67,865,184 
                     
Other Assets in Excess of Liabilities - 2.5%                  1,715,708 
                     
Net Assets - 100.0%                 $69,580,892 

 

(a) Security was purchased in a transaction exempt from registration in compliance with Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities are restricted. See the table on the following page for additional information regarding each restricted security.

 

The Fund's sector and industry classifications presented herein refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. For Fund compliance purposes, sector and industry classifications are based on the sector and industry categorization methodology of the Adviser to the Funds. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

 

See notes to Quarterly Statements of Investments.

 

 

 

 

SEGALL BRYANT & HAMILL QUALITY HIGH YIELD FUND
RESTRICTED SECURITIES
September 30, 2020 (Unaudited)
Issuer Description  Coupon  Maturity Date  Acquisition Date(s)  Cost  Value  Value as a Percentage of Net Assets
Aircastle, Ltd., 144A   5.250%  08/11/25  08/05/20  $990,728   $978,057    1.41%
Allison Transmission, Inc., 144A   5.000%  10/01/24  09/14/16-05/01/17   1,234,986    1,237,324    1.78%
Amkor Technology, Inc., 144A   6.625%  09/15/27  03/21/19-08/11/20   1,156,653    1,190,886    1.71%
Axalta Coating Systems LLC, 144A   4.750%  06/15/27  06/01/20-06/09/20   375,932    380,175    0.55%
Centene Corp., 144A   5.375%  06/01/26  05/09/18   725,000    765,216    1.10%
Compass Minerals International, Inc., 144A   4.875%  07/15/24  10/23/14-03/18/15   1,193,016    1,224,252    1.76%
Compass Minerals International, Inc., 144A   6.750%  12/01/27  8/12/2020   336,827    333,720    0.48%
DriveTime Automotive Group, Inc./Bridgecrest Acceptance Corp., 144A   8.000%  06/01/21  03/10/16-07/31/20   784,198    800,998    1.15%
FMG Resources August 2006 Pty., Ltd., 144A   5.125%  05/15/24  03/03/20   521,229    533,750    0.77%
FMG Resources August 2006 Pty., Ltd., 144A   4.500%  09/15/27  08/13/20   874,731    854,008    1.23%
Group 1 Automotive, Inc., 144A   4.000%  08/15/28  08/14/20   670,500    652,380    0.94%
Hanesbrands, Inc., 144A   4.625%  05/15/24  05/03/16-01/08/19   1,016,947    1,065,785    1.53%
Hanesbrands, Inc., 144A   4.875%  05/15/26  03/13/2020   249,424    266,875    0.38%
Hill-Rom Holdings, Inc., 144A   5.000%  02/15/25  02/09/17   500,000    516,250    0.74%
Hologic, Inc., 144A   4.375%  10/15/25  10/04/17-01/17/18   1,500,000    1,509,375    2.17%
InSite Issuer LLC, Series 2016-A1, Class C, 144A   6.414%  11/15/46  10/25/16-08/24/20   1,101,353    1,125,957    1.62%
James Hardie International Finance DAC, 144A   4.750%  01/15/25  11/29/17-11/20/18   830,674    856,829    1.23%
Lamar Media Corp., 144A   3.750%  02/15/28  01/23/20-02/26/20   1,281,566    1,268,625    1.82%
Meritor, Inc. 144A   6.250%  06/01/25  06/3/2020-07/30/20   1,122,486    1,159,950    1.67%
Netflix, Inc. , 144A   4.875%  06/15/30  04/21/20   156,566    171,000    0.25%
Nexstar Broadcasting, Inc., 144A   5.625%  07/15/27  11/12/19-09/28/20   1,454,811    1,452,796    2.09%
Nexstar Broadcasting, Inc., 144A   4.750%  11/01/28  09/15/20   225,000    229,500    0.33%
Nielsen Co. (Luxembourg) SARL (The), 144A   5.000%  02/01/25  06/07/17-11/15/17   766,097    762,187    1.10%
Provident Funding Associates LP/PFG Finance Corp., 144A   6.375%  06/15/25  05/24/17-06/16/20   1,370,774    1,524,780    2.19%
Sensata Technologies, Inc., 144A   3.750%  02/15/31  08/03/20   250,000    248,438    0.36%
Sirius XM Radio, Inc. 144A   5.500%  07/01/29  07/21/20   656,593    645,120    0.93%
Summit Materials LLC, 144A   6.500%  03/15/27  08/04/20   543,243    559,125    0.80%
Summit Materials LLC, 144A   5.250%  01/15/29  07/09/20   893,756    891,310    1.28%
Vistra Operations Co., LLC, 144A   5.000%  07/31/27  06/06/19-07/24/19   1,111,438    1,155,275    1.66%
West Fraser Timber Co., Ltd., 144A   4.350%  10/15/24  06/20/16-07/29/20   749,908    795,871    1.14%
              $24,644,436   $25,155,814    36.17%

 

See notes to Quarterly Statements of Investments.                          

 

 

 

SEGALL BRYANT & HAMILL MUNICIPAL OPPORTUNITIES FUND
STATEMENT OF INVESTMENTS
September 30, 2020 (Unaudited)
 
MUNICIPAL BONDS - 85.7%  Coupon  Maturity  Par Value  Value
Certificate Participation - 1.1%                    
Lease / Rent - 1.1%                    
Monterey County California COP Public Facilities Financing, Series 2015 (a)   4.000%   09/01/45   $185,000   $205,698 
Public Water Supply of District No. 1 of Lincoln County, Series 2019 (a)   4.000%   07/01/38    500,000    554,530 
Washington State, State & Local Agency Real & Personal Property, Series 2018-C (a)   5.000%   07/01/43    475,000    583,129 
                   1,343,357 
General Obligation - 21.1%                    
Education - 2.6%                    
Natomas Unified School District California, Series 2020-A   4.000%   08/01/49    3,000,000    3,348,570 
                     
Local - 13.7%                    
Central Platte Valley Metropolitan District, Series 2013-A (a)   5.375%   12/01/33    50,000    54,284 
Central Platte Valley Metropolitan District, Series 2013-A (a)   6.000%   12/01/38    1,450,000    1,580,297 
Central Platte Valley Metropolitan District, Series 2013-A (a)   5.625%   12/01/38    70,000    75,724 
Central Platte Valley Metropolitan District, Series 2014 (a)   5.000%   12/01/43    3,975,000    4,123,784 
Copperleaf Colorado Metropolitan District No. 2, Series 2015 (a)   5.750%   12/01/45    1,000,000    1,029,280 
Copperleaf Colorado Metropolitan District No. 2, Series 2019-B (a)   5.000%   12/15/49    1,020,000    1,038,911 
Denver Colorado International Business Center Metropolitan District No. 1, Series 2010 (a)   5.375%   12/01/35    115,000    115,976 
Fort Bend County Texas Levee District No. 6, Series 2019 (a)   3.000%   09/01/33    320,000    331,654 
Fort Bend County Texas Municipal Utility District No. 128, Series 2014 (a)   3.650%   09/01/29    205,000    213,497 

 

 

 

SEGALL BRYANT & HAMILL MUNICIPAL OPPORTUNITIES FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 85.7% (Continued)  Coupon  Maturity  Par Value  Value
Local - 13.7% (Continued)                    
Fort Bend County Texas Municipal Utility District No. 25, Series 2019 (a)   3.000%   10/01/34   $895,000   $940,896 
Fort Bend County Texas Municipal Utility District No. 57, Series 2015 (a)   3.125%   04/01/32    250,000    251,750 
Harris County Texas Municipal Utility District No. 166, Series 2019 (a)   3.000%   09/01/29    250,000    262,680 
Hays County Water Control & Improvement District No. 2, Series 2013 (a)   4.600%   09/01/33    390,000    417,674 
High Plains Metropolitan District in the City of Aurora, Arapahoe County, Colorado, NATL, Series 2017 (a)(b)   5.000%   12/01/35    295,000    355,378 
Kings Manor Texas Municipal Utility District, Series 2019 (a)   3.000%   09/01/31    540,000    561,449 
Kings Manor Texas Municipal Utility District, Series 2019 (a)   3.000%   09/01/32    250,000    258,555 
Las Vegas Nevada City Hall, Series 2015-C (a)   4.000%   09/01/38    855,000    955,368 
Lazy Nine Texas Municipal Utility District No. 1B, Series 2014 (a)   4.000%   09/01/34    100,000    101,267 
Marin California Healthcare District Election 2013, Series 2017-A (a)   4.000%   08/01/47    600,000    675,258 
Northwest Harris County Texas Municipal Utility District No. 5, Series 2013 (a)   3.000%   05/01/31    590,000    593,876 
Sonterra Texas Municipal Utility District, Series 2020 (a)   4.000%   08/15/39    890,000    958,939 
Traditions Metropolitan District No. 2 Arapahoe County, Colorado, Series 2016 (a)   4.250%   12/01/46    100,000    109,957 
Travis County Texas Municipal Utility District No. 21, Series 2016 (a)   3.000%   09/01/27    100,000    110,520 
Travis County Texas Municipal Utility District No. 21, Series 2016 (a)   3.500%   09/01/33    215,000    228,857 
West Harris County Texas Municipal District No. 5, Series 2015 (a)   3.375%   09/01/27    105,000    110,517 

 

 

 

SEGALL BRYANT & HAMILL MUNICIPAL OPPORTUNITIES FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 85.7% (Continued)  Coupon  Maturity  Par Value  Value
Local - 13.7% (Continued)                    
Winton Woods City Ohio School District, Series 2017-A (a)   4.000%   11/01/53   $1,950,000   $2,009,709 
                   17,466,057 
State - 4.8%                    
California State Tax Exempt   4.000%   11/01/44    2,000,000    2,208,260 
California State Tax Exempt   4.000%   11/01/45    3,500,000    3,938,865 
                   6,147,125 
Local Authority - 0.9%                    
Education - 0.1%                    
Administrators of the Tulane Educational Fund, Series 2013-C (a)   5.000%   10/01/47    170,000    179,668 
                     
Healthcare - 0.3%                    
Denver Health & Hospital Authority, Series B (a)   4.900%   12/01/24    410,000    444,346 
                     
Tax - 0.1%                    
County of Pitkin Colorado, Series 2010-A (a)   6.689%   12/01/30    100,000    101,046 
                     
Utilities - 0.4%                    
Warm Spring or Reservation Confederated, Series 2019-A   2.950%   11/01/23    250,000    258,030 
Warm Spring or Reservation Confederated, Series 2019-A   3.050%   11/01/24    200,000    208,818 
                   466,848 
Revenue - 62.6%                    
Education - 2.4%                    
Harris County Cultural Education Facilities Finance Corp., Series 2016 (a)   4.000%   11/15/30    300,000    335,133 
Harris County Cultural Education Facilities Finance Corp., Series 2012-A (a)   5.000%   11/15/37    280,000    295,929 
Massachusetts State Development Finance Agency, Series 2012 (a)   4.000%   09/01/49    1,100,000    1,131,097 
Miami-Dade County Educational Facilities Authority, Series 2015-A (a)   5.000%   04/01/31    20,000    22,773 

 

 

 

SEGALL BRYANT & HAMILL MUNICIPAL OPPORTUNITIES FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 85.7% (Continued)  Coupon  Maturity  Par Value  Value
Education - 2.4% (Continued)                    
Ohio State University General Receipts Special Purpose, Series 2013-A (a)   4.000%   06/01/43   $900,000   $950,490 
Tulsa Industrial Authority, Series 2011   4.000%   10/01/21    135,000    136,373 
Washington Higher Education Facilities Authority, Series 2013-A (a)   5.250%   04/01/43    175,000    185,542 
                   3,057,337 
Healthcare - 1.8%                    
Capital Trust Agency, Inc., Series 2018-B   3.750%   07/01/23    135,000    76,303 
City of Lakeland Florida, Series 2016 (a)   5.000%   11/15/29    50,000    60,149 
City of Lakeland Florida, Series 2015 (a)   5.000%   11/15/45    100,000    110,788 
Colorado Health Facilities Authority, Series 2008-D-2   5.000%   01/01/22    60,000    63,020 
Colorado Health Facilities Authority, Series 2012 (a)   5.000%   01/01/23    50,000    52,448 
Colorado Health Facilities Authority, Series 2012 (a)   5.000%   01/01/25    210,000    219,597 
Colorado Health Facilities Authority, Series 2015 (a)   5.000%   05/15/40    850,000    952,485 
Illinois Finance Authority, Series 2015-A (a)   5.000%   11/15/34    130,000    148,196 
Illinois Finance Authority, Series 2012-A (a)   4.250%   05/15/41    375,000    386,359 
Illinois Finance Authority, Series 2016-A (a)   5.000%   02/15/45    100,000    117,006 
Illinois Finance Authority, Series 2012 (a)   4.000%   06/01/47    35,000    35,917 
Kentucky State Economic Development Finance Authority, Series 2009-B   2.700%   05/01/39    25,000    25,499 
Washington State Health Care Facilities Authority, Series 2013A-1 (a)   5.250%   01/01/40    95,000    103,010 
                   2,350,777 
Industrial Development - 1.1%                    
Burke County Georgia Pollution Control, Series 2013-A (c)   1.500%   01/01/40    1,365,000    1,373,026 
                     
Lease / Rent - 2.1%                    
Hamilton Community Authority, Series 2019-A (a)   4.000%   10/15/46    990,000    1,073,002 

 

 

 

SEGALL BRYANT & HAMILL MUNICIPAL OPPORTUNITIES FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 85.7% (Continued)  Coupon  Maturity  Par Value  Value
Lease / Rent - 2.1% (Continued)                    
San Mateo County California Joint Powers Financing Authority, Series 2018-A (a)   4.000%   07/15/52   $1,480,000   $1,667,590 
                   2,740,592 
Other - 0.0% (d)                    
Colorado Education & Cultural Facilities Authority, Series B (a)   4.000%   12/01/38    50,000    51,982 
                     
Public Services - 1.9%                    
Lee County Florida Tourist Development, Series 2013   4.000%   10/01/38    1,950,000    2,070,920 
Park Creek Metropolitan District, Series 2017-A (a)   5.000%   12/01/35    275,000    321,313 
                   2,392,233 
Recreation - 0.8%                    
Collier County Florida Tourist Development, Series 2018   4.000%   10/01/37    750,000    839,723 
Denver Colorado Convention Center Hotel Authority, Series 2016 (a)   5.000%   12/01/40    175,000    185,743 
                   1,025,466 
State and Non-State Appropriated Tobacco - 2.6%                    
Buckeye Ohio Tobacco Settlement Financing Authority, Series 2020-A-2 CL 1 (a)   4.000%   06/01/38    925,000    1,081,677 
California County Tobacco Securitization Agency (The), Series 2020-A (a)   4.000%   06/01/34    640,000    759,994 
California County Tobacco Securitization Agency (The), Series 2020-A (a)   4.000%   06/01/35    650,000    765,583 
Tobacco Securitization Authority of Southern California, Series 2019-A   5.000%   06/01/48    575,000    696,779 
                   3,304,033 
Tax - 5.7%                    
City of Williston North Dakota, Series 2018-A (a)   3.200%   07/15/24    515,000    530,805 
Denver Colorado Urban Renewal Authority Tax Increment, Series 2018-A (a)   5.250%   12/01/39    2,000,000    2,058,140 

 

 

 

SEGALL BRYANT & HAMILL MUNICIPAL OPPORTUNITIES FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 85.7% (Continued)  Coupon  Maturity  Par Value  Value
Tax - 5.7% (Continued)                    
Jamestown Park District, Series A (a)   4.000%   07/01/33   $1,000,000   $1,084,450 
Northglenn Urban Renewal Authority, Series 2019 (a)   4.000%   12/01/34    400,000    435,892 
Northglenn Urban Renewal Authority, Series 2019 (a)   4.000%   12/01/35    525,000    569,089 
Riverside County California Redevelopment Agency, Series B   0.000%   10/01/38    730,000    474,909 
Roaring Fork County Transportation Authority Sales & Use Tax, Series 2019 (a)   4.000%   12/01/44    150,000    174,328 
Southwest Houston Texas Redevelopment Authority, Series 2017-B (a)   4.000%   09/01/40    1,350,000    1,500,565 
Successor Agency to the Orange Redevelopment Agency, Series A (a)   4.000%   09/01/34    200,000    236,102 
Village Community Development District No. 5, Series Phase 1   3.125%   05/01/22    160,000    164,883 
                   7,229,163 
Transportation - 38.4%                    
Airport Commission of the City and County of San Francisco, San Francisco International Airport, Series 2019-D (a)   5.000%   05/01/39    175,000    215,633 
Arizona Industrial Development Authority, Series 2018 (a)   5.000%   05/01/33    455,000    469,942 
Arizona Industrial Development Authority, Series 2018 (a)   5.000%   05/01/36    405,000    411,338 
Arizona Industrial Development Authority, Series 2018 (a)   5.000%   05/01/48    225,000    227,498 
Central Texas Regional Mobility Authority, Series A (a)   5.000%   01/01/45    635,000    719,880 
City of Austin, Texas Airport Systems, Series 2017-A (a)   5.000%   11/15/46    200,000    231,570 
City of St. Louis, Missouri Airport (The), Series 2019-A (a)   5.000%   07/01/49    520,000    615,987 
Colorado High Performance Transportation Enterprise, Series 2014 (a)   5.750%   01/01/44    750,000    801,518 

 

 

 

SEGALL BRYANT & HAMILL MUNICIPAL OPPORTUNITIES FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 85.7% (Continued)  Coupon  Maturity  Par Value  Value
Transportation - 38.4% (Continued)                    
Colorado High Performance Transportation Enterprise, Series 2017 (a)   5.000%   12/31/47   $100,000   $108,179 
Colorado High Performance Transportation Enterprise, Series 2017 (a)   5.000%   12/31/51    1,675,000    1,808,213 
Foothill Eastern Transportation Corridor Agency Toll Road, Series 2013-A   5.750%   01/15/46    5,000,000    5,538,200 
Foothill Eastern Transportation Corridor Agency Toll Road, Series 2013-B-2   3.500%   01/15/53    2,750,000    2,902,625 
Houston Texas Airport Systems, Series 2018-A   5.000%   07/01/41    1,000,000    1,185,300 
Love Field Airport Modernization Corp., Series 2017 (a)   5.000%   11/01/33    425,000    492,486 
Mid-Bay Bridge Authority, Series A (a)   5.000%   10/01/30    1,500,000    1,723,035 
Mid-Bay Bridge Authority, Series A (a)   5.000%   10/01/35    1,180,000    1,333,306 
Mid-Bay Bridge Authority, Series A (a)   5.000%   10/01/40    1,000,000    1,118,140 
New Orleans Aviation Board General Airport, Series A (a)   5.000%   01/01/38    285,000    334,034 
New Orleans Aviation Board General Airport, Series A (a)   5.000%   01/01/43    345,000    399,962 
New Orleans Aviation Board General Airport, Series B (a)   5.000%   01/01/48    390,000    437,681 
North Carolina Department of Transportation, Series 2015   5.000%   06/30/54    5,000,000    5,280,700 
North Carolina State Turnpike Authority Monroe Expressway Toll, Series A (a)   5.000%   07/01/42    750,000    844,365 
North Carolina State Turnpike Authority Monroe Expressway Toll, Series 2019 (a)   5.000%   01/01/43    500,000    601,630 
North Carolina State Turnpike Authority Monroe Expressway Toll, Series 2019 (a)   5.000%   01/01/44    355,000    426,259 
North Texas Tollway Authority System, Series 2015-A (a)   5.000%   01/01/38    370,000    426,166 

 

 

 

SEGALL BRYANT & HAMILL MUNICIPAL OPPORTUNITIES FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 85.5% (Continued)  Coupon  Maturity  Par Value  Value
Transportation - 38.4% (Continued)                    
North Texas Tollway Authority System, Series A   4.000%   01/01/43   $500,000   $567,445 
Pennsylvania Turnpike Commission, Series 2015-B (a)   5.000%   12/01/45    1,025,000    1,182,522 
Port of Seattle Washington, Series 2018-A   5.000%   05/01/37    3,000,000    3,509,640 
Regional Transportation District Colorado, Series 2010 (a)   5.250%   07/15/24    500,000    500,640 
Regional Transportation District Colorado, Series 2010 (a)   5.375%   01/15/25    170,000    170,236 
Regional Transportation District Colorado, Series 2010 (a)   5.375%   07/15/25    30,000    30,042 
Regional Transportation District Colorado, Series 2010 (a)   6.000%   01/15/26    345,000    345,662 
Regional Transportation District Colorado, Series 2010 (a)   6.000%   01/15/34    1,000,000    1,001,950 
Salt Lake City Utah Airport, Series 2017-B   5.000%   07/01/47    550,000    647,064 
Salt Lake City Utah Airport, Series 2018-A   5.250%   07/01/48    400,000    473,164 
State of Hawaii Airports System, Series B (a)   4.000%   07/01/45    600,000    656,658 
Texas Transportation Commission Central Texas Turnpike System, Series C   5.000%   08/15/30    120,000    137,196 
Texas Transportation Commission Central Texas Turnpike System, Series C   5.000%   08/15/37    1,000,000    1,124,070 
Texas Transportation Commission Central Texas Turnpike System, Series C   5.000%   08/15/42    3,500,000    3,902,745 
Virginia Small Business Financing Authority, Series 2017 (a)   5.000%   07/01/34    2,500,000    2,588,075 
Virginia Small Business Financing Authority, Series 2017 (a)   5.000%   01/01/40    130,000    134,155 
Virginia Small Business Financing Authority, 144A, Series 2017 (a) (c) (e)   2.935%   07/01/50    3,500,000    3,496,185 
                   49,121,096 
Utilities - 5.8%                    
Garland Texas Electric Utility Systems, Series 2019 (a)   5.000%   03/01/44    325,000    403,709 
JEA Electric System, Series 2020-A   4.000%   10/01/38    1,870,000    2,209,199 

 

 

 

SEGALL BRYANT & HAMILL MUNICIPAL OPPORTUNITIES FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 85.7% (Continued)  Coupon  Maturity  Par Value  Value
Utilities - 5.8% (Continued)                    
Lower Colorado River Authority Texas Transmission Contract Revenue, Series 2016 (a)   4.000%   05/15/42   $500,000   $554,010 
Norco California Financing Authority Enterprise, Series 2019-A (a)   4.000%   10/01/44    500,000    579,945 
Richmond California Wastewater, Series 2017-A   5.250%   08/01/47    3,000,000    3,722,400 
                   7,469,263 
                     
Total Municipal Bonds (Cost $106,526,989)                 $109,611,985 

 

CORPORATE BONDS - 2.3%  Coupon  Maturity  Par Value  Value
Industrial - 2.3%                    
Independent Energy - 1.8%                    
PDC Energy, Inc., Series 2018-A, CV   1.125%   09/15/21   $2,500,000   $2,370,867 

 

 

 

SEGALL BRYANT & HAMILL MUNICIPAL OPPORTUNITIES FUND
STATEMENT OF INVESTMENTS (Continued)
 
CORPORATE BONDS - 2.3% (Continued)  Coupon  Maturity  Par Value  Value
Leisure / Entertainment - 0.5%                    
YMCA of Greater New York, Series 2020   2.260%   08/01/21    600,000   $600,004 
                     
Total Corporate Bonds (Cost $2,962,595)                 $2,970,871 
                     
Investments at Value – 88.0% (Cost $109,489,584)                 $112,582,856 
                     
Other Assets in Excess of Liabilities – 12.0%                  15,360,527 
                     
Net Assets - 100.0%                 $127,943,383 

 

(a) Security can be called and redeemed at the option of the issuer prior to the stated maturity date which is included in the Statement of Investments.
(b) This security is insured. In the event of a default by the bond issuer, the issuer, as noted in the security description, guarantees that scheduled principal and interest payments will be made when due.
(c) Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of September 30, 2020. For securities based on a published reference rate and spread, the reference rate and spread (in basis points) are indicated parenthetically. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities, therefore, do not indicate a reference rate and spread.
(d) Percentage rounds to less than 0.1%.
(e) Security was purchased in a transaction exempt from registration in compliance with Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. The total value of such securities is $3,496,185 as of September 30, 2020, representing 2.7% of net assets.

 

The Fund's sector and industry classifications presented herein refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. For Fund compliance purposes, sector and industry classifications are based on the sector and industry categorization methodology of the Adviser to the Funds. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

 

See notes to Quarterly Statements of Investments.

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS
September 30, 2020 (Unaudited)
 
MUNICIPAL BONDS - 95.9%  Coupon  Maturity  Par Value  Value
Certificate Participation - 15.6%                    
Healthcare - 0.3%                    
Denver Health & Hospital Authority COP, Series 2018 (a)   5.000%   12/01/30   $350,000   $421,333 
Denver Health & Hospital Authority COP, Series 2018 (a)   5.000%   12/01/31    350,000    419,006 
Denver Health & Hospital Authority COP, Series 2018 (a)   5.000%   12/01/32    225,000    266,767 
Denver Health & Hospital Authority COP, Series 2018 (a)   5.000%   12/01/33    240,000    283,301 
                   1,390,407 
Lease / Rent - 15.3%                    
Aspen Colorado COP, Series 2019 (a)   5.000%   12/01/44    2,070,000    2,607,434 
Berthoud Colorado COP, Series 2020 (a)   4.000%   12/01/40    3,765,000    4,412,768 
Berthoud Colorado COP, Series 2020 (a)   4.000%   12/01/49    9,255,000    10,636,124 
Breckenridge Colorado COP, Series 2020-B   5.000%   12/01/23    25,000    28,505 
Breckenridge Colorado COP, Series 2020-B (a)   4.000%   12/01/39    1,350,000    1,608,120 
Breckenridge Colorado COP, Series 2020-B (a)   4.000%   12/01/44    3,165,000    3,697,163 
Castle Pines North Metropolitan District Colorado COP, Series 2015 (a)   4.000%   12/01/44    750,000    767,595 
Castle Rock Colorado COP, Series 2020   4.000%   12/01/40    1,025,000    1,202,120 
Castle Rock Colorado COP, Series 2020   4.000%   12/01/48    3,930,000    4,527,124 
City & County of Denver Colorado COP, Series 2018-A (a)   5.375%   06/01/43    7,000,000    8,207,430 
City & County of Denver Colorado COP, Series 2018-A (a)   4.000%   06/01/48    4,925,000    5,149,875 
City of Aurora Colorado COP, Series 2017 (a)   5.000%   12/01/34    450,000    541,588 
City of Aurora Colorado COP, Series 2017 (a)   5.000%   12/01/35    615,000    737,772 
Colorado State Building Excellent Schools Today COP, Series 2019-O (a)   5.000%   03/15/36    1,750,000    2,202,287 
Colorado State Building Excellent Schools Today COP, Series 2019-O (a)   4.000%   03/15/37    1,450,000    1,661,642 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Lease / Rent - 15.3% (Continued)                    
Colorado State Building Excellent Schools Today COP, Series 2018-N (a)   4.000%   03/15/39   $200,000   $224,012 
Colorado State COP Rural Colorado, Series 2020-A (a)   4.000%   12/15/35    410,000    498,433 
Colorado State COP Rural Colorado, Series 2018-A (a)   5.000%   12/15/37    1,000,000    1,261,310 
Denver City & County School District No. 1 COP, Series 2020-A (a)   5.000%   12/01/33    275,000    365,761 
Denver City & County School District No. 1 COP, Series 2018-B (a)   5.000%   12/01/36    3,980,000    4,050,088 
Denver City & County School District No. 1 COP, Series 2020-A (a)   5.000%   12/01/40    1,800,000    2,321,172 
Denver City & County School District No. 1 COP, Series 2020-A (a)   5.000%   12/01/42    1,860,000    2,382,809 
Grand Junction Colorado COP, Series 2019 (a)   4.000%   12/01/35    550,000    657,580 
Gunnison County Colorado COP, Series 2020-B   5.000%   12/01/23    105,000    119,898 
Gunnison County Colorado COP, Series 2020-B   5.000%   12/01/24    55,000    64,969 
Gunnison County Colorado COP, Series 2020-B   5.000%   12/01/28    45,000    58,346 
Gunnison County Colorado COP, Series 2020-B   5.000%   12/01/30    310,000    417,034 
Gunnison County Colorado COP, Series 2020-B (a)   5.000%   12/01/31    200,000    267,244 
Gunnison County Colorado COP, Series 2020 (a)   4.000%   12/01/34    125,000    149,550 
Gunnison County Colorado COP, Series 2020-B (a)   4.000%   12/01/34    55,000    66,883 
Gunnison County Colorado COP, Series 2020 (a)   4.000%   12/01/35    390,000    464,459 
Gunnison County Colorado COP, Series 2020-B (a)   4.000%   12/01/35    310,000    375,097 
Gunnison County Colorado COP, Series 2020 (a)   4.000%   12/01/36    810,000    960,458 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Lease / Rent - 15.3% (Continued)                    
Gunnison County Colorado COP, Series 2020-B (a)   4.000%   12/01/36   $325,000   $391,381 
Gunnison County Colorado COP, Series 2020 (a)   4.000%   12/01/37    840,000    992,536 
Platteville-Gilcrest Fire Protection District COP, Series 2018 (a)   5.000%   12/01/33    175,000    219,014 
Pueblo County School District No. 70 COP, Series 2014 (a)   2.375%   01/15/21    270,000    270,400 
State of Colorado Department of Transportation, Series 2017 (a)   5.000%   06/15/41    880,000    1,054,566 
Town of Firestone Colorado Water Enterprise COP, Series 2018 (a)   5.000%   12/01/42    3,000,000    3,618,450 
Winter Park Colorado COP, Series 2019 (a)   4.000%   12/01/28    360,000    435,071 
                   69,674,068 
General Obligation - 19.4%                    
Local - 19.4%                    
Anthem West Metropolitan District, BAM, Series 2015 (a) (b)   5.000%   12/01/35    1,165,000    1,393,130 
Arapahoe County School District No. 6 Littleton Colorado, Series 2019A (a)   5.500%   12/01/43    5,000,000    6,435,300 
Beacon Point Metropolitan District, Series 2015 (a)   5.000%   12/01/30    1,000,000    1,193,600 
BNC Metropolitan District No. 1, BAM, Series 2017-A (a) (b)   5.000%   12/01/32    360,000    441,860 
BNC Metropolitan District No. 1, BAM, Series 2017-A (a) (b)   5.000%   12/01/37    545,000    658,153 
Boulder Larimer & Weld Counties Colordao St. Vrain Valley School District, Series 2006   5.250%   12/15/20    5,000,000    5,051,550 
Bradburn Metropolitan District No. 2, Series 2018-A   4.000%   12/01/28    500,000    512,745 
Bradburn Metropolitan District No. 2, Series 2018-A (a)   5.000%   12/01/38    600,000    646,560 
Bromley Park Metropolitan District No. 2, Series 2018-B (a)   6.375%   12/15/47    1,000,000    1,027,410 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Local - 19.4% (Continued)                    
Bromley Park Metropolitan District No. 2, BAM, Series 2018-A (a) (b)   4.000%   12/01/47   $2,500,000   $2,783,500 
Castle Oaks Metropolitan District No. 3 Colorado, Series 2020   4.000%   12/01/35    600,000    710,640 
Castle Oaks Metropolitan District No. 3 Colorado, Series 2020   4.000%   12/01/40    615,000    714,704 
Castle Oaks Metropolitan District No. 3 Colorado, Series 2020   4.000%   12/01/45    825,000    945,483 
Castle Oaks Metropolitan District No. 3 Colorado, Series 2020   4.000%   12/01/50    1,180,000    1,345,707 
Central Platte Valley Metropolitan District, Series 2013-A (a)   5.500%   12/01/29    750,000    826,725 
Central Platte Valley Metropolitan District, Series 2013-A (a)   5.375%   12/01/33    1,600,000    1,737,072 
Central Platte Valley Metropolitan District, Series 2013-A (a)   5.625%   12/01/38    2,875,000    3,110,089 
Central Platte Valley Metropolitan District, Series 2013-A (a)   6.000%   12/01/38    1,000,000    1,089,860 
Central Platte Valley Metropolitan District, Series 2014 (a)   5.000%   12/01/43    5,750,000    5,965,223 
Copperleaf Metropolitan District No. 2, Series 2015 (a)   5.750%   12/01/45    3,000,000    3,087,840 
Cornerstar Metropolitan District, Series A (a)   5.125%   12/01/37    1,000,000    1,025,010 
Cottonwood Highlands Metropolitan District No. 1, Series 2019-A (a)   5.000%   12/01/49    900,000    914,724 
Cross Creek Metropolitan District No. 2, AGM, Series 2018 (a) (b)   5.000%   12/01/34    2,480,000    3,131,818 
Douglas County Colorado School District No. RE1, Series 2009   5.250%   12/15/21    120,000    127,367 

Dove Valley Metropolitan District Arapahoe County, BAM,

Series 2019 (a) (b)

   4.000%   12/01/35    500,000    597,800 

Dove Valley Metropolitan District Arapahoe County, BAM,

Series 2019 (a) (b)

   4.000%   12/01/36    700,000    833,280 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Local - 19.4% (Continued)                    

Dove Valley Metropolitan District Arapahoe County, BAM,

Series 2019 (a) (b)

   4.000%   12/01/37   $750,000   $889,673 

Dove Valley Metropolitan District Arapahoe County, BAM,

Series 2019 (a) (b)

   4.000%   12/01/38    500,000    588,840 

Dove Valley Metropolitan District Arapahoe County, BAM,

Series 2019 (a) (b)

   4.000%   12/01/39    600,000    701,652 
Eagle Shadow Metropolitan District No. 1, Series 2013-A (a)   5.000%   11/15/32    500,000    523,690 
Eaton Area Park & Recreation District, Series 2015 (a)   5.500%   12/01/30    470,000    488,405 
Flying Horse Metropolitan District No. 2 Colorado, Series 2020-A   4.000%   12/01/44    515,000    601,592 
Flying Horse Metropolitan District No. 2 Colorado, Series 2020-A   4.000%   12/01/50    875,000    1,013,241 
Fossil Ridge Metropolitan District No. 3, Series 2016 (a)   5.000%   12/01/36    2,100,000    2,108,106 
Fossil Ridge Metropolitan District No. 3, Series 2014 (a)   5.000%   12/01/44    1,200,000    1,203,900 
Grand River Hospital District, AGM, Series 2018 (a) (b)   5.250%   12/01/32    1,000,000    1,233,110 
Grand River Hospital District, AGM, Series 2018 (a) (b)   5.250%   12/01/33    1,000,000    1,219,340 
High Plains Metropolitan District, NATL, Series 2017 (a) (b)   5.000%   12/01/35    500,000    602,335 
Prairie Center Metropolitan District No. 7 Colorado, Series 2020   4.125%   12/15/36    900,000    906,192 
Prairie Center Metropolitan District No. 7 Colorado, Series 2020   4.875%   12/15/44    700,000    704,655 
Sand Creek County Metropolitan District, Series 2017 (a)   4.000%   12/01/35    380,000    441,294 
SBC Metropolitan District, AGM, Series 2016 (a) (b)   5.000%   12/01/34    205,000    253,521 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Local - 19.4% (Continued)                    
Serenity Ridge Metropolitan District No. 2, Series 2018-A (a)   5.125%   12/01/43   $725,000   $743,981 
Sierra Ridge Metropolitan District No. 2, Series 2016-A (a)   5.500%   12/01/46    4,500,000    4,643,775 
South Suburban Park & Recreation District, Series 2019 (a)   4.000%   12/15/37    425,000    504,386 
South Suburban Park & Recreation District, Series 2019 (a)   4.000%   12/15/38    575,000    680,145 
South Suburban Park & Recreation District, Series 2019 (a)   4.000%   12/15/39    565,000    666,214 
Southshore Met District No.2 in the City of Aurora Arapahoe County, Colorado, Series 2020-A-2 (a)   4.000%   12/01/46    6,300,000    7,115,283 
Sterling Hills West Metropolitan District, Series 2017 (a)   5.000%   12/01/39    750,000    866,400 
Tallyns Reach Metropolitan District No. 3, Series 2012   4.000%   12/01/21    820,000    852,480 
Tallyns Reach Metropolitan District No. 3, Series 2016-A (a)   6.750%   11/01/38    1,697,000    1,736,557 
Tallyns Reach Metropolitan District No. 3, Series 2013 (a)   5.125%   11/01/38    1,035,000    1,055,648 
Thornton Colorado Development Authority, Series 2015   5.000%   12/01/24    440,000    518,558 
Thornton Colorado Development Authority, Series 2015 (a)   5.000%   12/01/25    325,000    384,790 
Thornton Colorado Development Authority, Series 2015   5.000%   12/01/26    530,000    627,266 
Village Metropolitan District Colorado, Series 2020   4.150%   12/01/30    750,000    761,865 
Village Metropolitan District Colorado, Series 2020   5.000%   12/01/40    500,000    521,055 
Village Metropolitan District Colorado, Series 2020   5.000%   12/01/49    1,085,000    1,117,897 
Vista Ridge Metropolitan District, BAM, Series 2016-A (a) (b)   5.000%   12/01/27    485,000    603,398 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Local - 19.4% (Continued)                    
Vista Ridge Metropolitan District, BAM, Series 2016-A (a) (b)   5.000%   12/01/28   $750,000   $930,045 
Vista Ridge Metropolitan District, BAM, Series 2016-A (a) (b)   5.000%   12/01/31    1,250,000    1,530,788 
Weld County Colorado School District No. 2, Series 2019 (a)   5.000%   12/01/44    1,030,000    1,311,324 
Wheatlands Metropolitan District, BAM, Series 2015 (a) (b)   5.000%   12/01/30    1,000,000    1,208,110 
                   88,166,661 
State - 0.0% (c)                    
Commonwealth of Puerto Rico, AGM, Series 2011-A (a) (b)   5.250%   07/01/24    100,000    102,551 
                     
Local Authority - 2.4%                    
Housing - 0.5%                    
Colorado Housing & Finance Authority, Series 2018-A-1   2.800%   10/01/21    550,000    558,289 
Colorado Housing & Finance Authority, Series 2020-C-1   1.878%   05/01/23    295,000    302,157 
Colorado Housing & Finance Authority, Series 2020-C-1   1.928%   11/01/23    340,000    349,738 
Colorado Housing & Finance Authority, Series 2020-C-1   2.025%   05/01/24    150,000    154,946 
Colorado Housing & Finance Authority, Series 2020-C-1   2.075%   11/01/24    250,000    258,758 
Colorado Housing & Finance Authority, Series 2020-C-1   2.175%   11/01/25    500,000    519,580 
                   2,143,468 
Lease / Rent - 0.2%                    
Aspen Public Facilities Authority, AGM, Series 2007-A (a) (b)   5.880%   09/01/32    270,000    271,137 
Boulder Colorado COP, Series 2019   2.250%   11/01/24    500,000    527,785 
                   798,922 
Local - 0.1%                    
Garfield County School District No. RE2, Series 2012-B (a)   3.050%   12/01/26    500,000    523,880 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Recreation - 0.5%                    
Hyland Hills Park & Recreation District, Series 2016-B   2.000%   12/15/20   $150,000   $150,419 
Hyland Hills Park & Recreation District, Series 2016-B   2.150%   12/15/21    135,000    137,381 
Park Creek Metropolitan District, Series 2017-B   2.850%   12/01/21    500,000    509,360 
Park Creek Metropolitan District, Series 2017-B   3.150%   12/01/23    405,000    426,404 
Park Creek Metropolitan District, Series 2017-B   3.300%   12/01/24    425,000    455,120 
Park Creek Metropolitan District, Series 2017-B   3.450%   12/01/25    500,000    544,845 
Park Creek Metropolitan District, Series 2017-B (a)   3.600%   12/01/26    300,000    328,083 
                   2,551,612 
Tax - 0.6%                    
Grand Junction Colorado, Series 2020-A   1.826%   03/01/25    620,000    641,719 
Park Creek Metropolitan District, Series 2018-B   3.550%   12/01/22    665,000    696,322 
Park Creek Metropolitan District, Series 2018-B   3.650%   12/01/23    805,000    859,949 
Park Creek Metropolitan District, Series 2018-B   3.800%   12/01/24    440,000    480,022 
                   2,678,012 
Utilities - 0.5%                    
Todd Creek Village Metropolitan District Colorado, Series 2018-B (a)   5.875%   12/01/38    930,000    932,186 
Town of Estes Park Colorado Power & Communications, Series 2019-B   2.362%   11/01/23    770,000    801,455 
Town of Estes Park Colorado Power & Communications, Series 2019-B   2.646%   11/01/25    430,000    460,461 
                   2,194,102 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Prerefunded - 0.3%                    
Healthcare - 0.3%                    
Colorado Health Facilities Authority, Series 2017 (a) (d)   5.000%   06/01/31   $1,250,000   $1,614,412 
                     
Revenue - 58.2%                    
Education - 5.8%                    
Colorado Educational & Cultural Facilities Authority, Series 2017-A (a)   4.000%   03/01/31    25,000    28,444 
Colorado Educational & Cultural Facilities Authority, Series 2017-A (a)   4.000%   03/01/33    1,125,000    1,265,422 
Colorado Educational & Cultural Facilities Authority, Series 2016 (a)   5.000%   10/01/34    1,975,000    2,127,687 
Colorado Educational & Cultural Facilities Authority, Series 2016 (a)   5.000%   05/01/35    3,145,000    3,197,962 
Colorado Educational & Cultural Facilities Authority, Series 2016 (a)   5.000%   10/01/36    1,500,000    1,785,810 
Colorado School of Mines, Series 2018-A (1MO LIBOR + 50) (a) (e)   0.604%   02/01/23    13,635,000    13,588,777 
Colorado School of Mines, Series 2017-C (a)   4.000%   12/01/37    225,000    259,967 
Colorado State Board Community Colleges Refunding and Improvement Department Higher Education, Series 2017-A   5.000%   11/01/26    105,000    131,344 
Colorado State Board Community Colleges Refunding and Improvement Department Higher Education, Series 2017-A (a)   4.000%   11/01/41    825,000    935,038 
Metropolitan State University of Denver Colorado, Series 2016 (a)   4.000%   12/01/28    715,000    825,854 
University of Colorado Enterprise, Series 2017-A-1 (a)   4.000%   06/01/32    300,000    350,271 
University of Colorado Enterprise, Series 2017-A-2 (a)   4.000%   06/01/43    1,750,000    1,999,918 
                   26,496,494 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Healthcare - 6.8%                    
Aspen Valley Hospital District, Series 2012 (a)   5.000%   10/15/30   $1,650,000   $1,752,943 
Colorado Health Facilities Authority, Series 2016   4.000%   01/01/21    255,000    255,138 
Colorado Health Facilities Authority, Series 2017   4.000%   09/01/21    255,000    261,870 
Colorado Health Facilities Authority, Series 2017-A   5.000%   05/15/23    370,000    411,666 
Colorado Health Facilities Authority, Series 2017-A   5.000%   05/15/24    575,000    661,808 
Colorado Health Facilities Authority, Series 2012 (a)   5.000%   12/01/24    1,000,000    1,094,510 
Colorado Health Facilities Authority, Series 2017-A   5.000%   05/15/25    790,000    937,406 
Colorado Health Facilities Authority, Series 2017-A   5.000%   05/15/26    540,000    656,089 
Colorado Health Facilities Authority, Series 2017-A (a)   5.000%   05/15/28    535,000    655,792 
Colorado Health Facilities Authority, Series 2017-A (a)   5.000%   05/15/29    425,000    517,208 
Colorado Health Facilities Authority, Series B (a)   5.000%   09/01/29    1,000,000    1,146,480 
Colorado Health Facilities Authority, Series C (a) (d)   5.000%   12/01/29    1,010,000    1,212,313 
Colorado Health Facilities Authority, Series 2015 (a)   5.000%   05/15/30    500,000    575,225 
Colorado Health Facilities Authority, Series 2017-A (a)   5.000%   05/15/30    710,000    860,683 
Colorado Health Facilities Authority, Series 2017-A (a)   5.000%   05/15/31    1,155,000    1,393,611 
Colorado Health Facilities Authority, Series 2017-A (a)   5.000%   05/15/32    1,650,000    1,980,709 
Colorado Health Facilities Authority, Series 2012 (a)   5.000%   10/01/32    500,000    532,850 
Colorado Health Facilities Authority, Series 2017-A (a)   4.000%   05/15/35    350,000    388,024 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Healthcare - 6.8% (Continued)                    
Colorado Health Facilities Authority, Series 2019-A (a)   5.000%   11/15/37   $200,000   $253,106 
Colorado Health Facilities Authority, Series 2019 (a)   4.000%   01/01/39    1,200,000    1,381,620 
Colorado Health Facilities Authority, Series 2019 (a)   4.000%   01/01/40    925,000    1,061,659 
Colorado Health Facilities Authority, Series 2015 (a)   5.000%   05/15/40    1,000,000    1,120,570 
Colorado Health Facilities Authority, Series 2018 (a) (e)   2.800%   05/15/42    2,850,000    2,976,027 
Colorado Health Facilities Authority, Series 2015 (a)   4.000%   01/15/45    2,155,000    2,330,460 
Colorado Health Facilities Authority, Series 2019-A (a)   3.000%   11/15/46    985,000    1,025,247 
Denver Health & Hospital Authority, Series A (a)   5.000%   12/01/39    1,500,000    1,606,725 
University of Colorado Hospital Authority, Series 2012-A (a)   5.000%   11/15/36    2,470,000    2,656,584 
University of Colorado Hospital Authority, Series 2012-A (a)   4.000%   11/15/42    1,250,000    1,297,150 
                   31,003,473 
Industrial Development - 0.2%                    
Colorado Health Facilities Authority, Series A (a)   5.000%   02/01/22    200,000    206,150 
Colorado Health Facilities Authority, Series A (a)   5.000%   02/01/23    520,000    546,941 
                   753,091 
Lease / Rent - 1.3%                    
Regional Transportation District Colorado COP, Series 2014-A (a)   4.375%   06/01/39    4,000,000    4,310,000 
Regional Transportation District Colorado COP, Series 2014-A (a)   4.500%   06/01/44    1,555,000    1,677,036 
                   5,987,036 
Other - 4.1%                    
Colorado Educational & Cultural Facilities Authority, Series 2012   4.000%   04/01/22    65,000    66,258 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Other - 4.1% (Continued)                    
Colorado Educational & Cultural Facilities Authority, Series 2014   5.000%   11/15/24   $435,000   $499,271 
Colorado Educational & Cultural Facilities Authority, 144A, Series 2016 (f)   3.750%   07/01/26    765,000    770,982 
Colorado Educational & Cultural Facilities Authority, 144A, Series A (a) (f)   4.125%   07/01/26    565,000    578,057 
Colorado Educational & Cultural Facilities Authority, Series 2016 (a)   5.000%   05/15/29    2,600,000    3,105,674 
Colorado Educational & Cultural Facilities Authority, Series 2014 (a)   5.000%   08/15/30    750,000    845,033 
Colorado Educational & Cultural Facilities Authority, Series 2015 (a)   5.000%   11/01/30    500,000    577,710 
Colorado Educational & Cultural Facilities Authority, Series 2014 (a)   5.000%   11/15/31    1,000,000    1,117,230 
Colorado Educational & Cultural Facilities Authority, Series 2014   5.000%   12/01/31    1,500,000    1,693,410 
Colorado Educational & Cultural Facilities Authority, Series 2016-A (a)   5.000%   12/15/31    715,000    844,687 
Colorado Educational & Cultural Facilities Authority, Series 2014 (a)   5.000%   10/01/32    1,340,000    1,503,413 
Colorado Educational & Cultural Facilities Authority, Series 2016 (a)   5.000%   06/01/36    1,580,000    1,818,343 
Colorado Educational & Cultural Facilities Authority, 144A, Series 2016 (a) (f)   5.000%   07/01/36    1,000,000    1,127,420 
Colorado Educational & Cultural Facilities Authority, Series 2016 (a)   5.000%   07/01/36    1,000,000    1,022,460 
Colorado Educational & Cultural Facilities Authority, Series 2016 (a)   5.000%   08/01/36    1,140,000    1,312,015 
Colorado Educational & Cultural Facilities Authority, 144A, Series 2016 (a) (f)   5.000%   09/01/36    1,000,000    1,003,410 
Colorado Educational & Cultural Facilities Authority, Series B (a)   5.625%   01/15/44    460,000    492,126 
Colorado Educational & Cultural Facilities Authority, 144A, Series 2016 (a) (f)   5.000%   09/01/46    500,000    500,555 
                   18,878,054 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Public Services - 12.5%                    
Cherry Creek Corporate Center Metropolitan District, Series 2015-A (a)   5.000%   06/01/37   $570,000   $582,443 
City & County of Denver Colorado, Series 2018-A-2 (a)   0.000%   08/01/35    2,800,000    1,794,156 
City & County of Denver Colorado, Series 2018-A-2 (a)   0.000%   08/01/36    2,550,000    1,558,126 
City & County of Denver Colorado, Series 2018-A-2 (a)   0.000%   08/01/37    3,910,000    2,278,513 
City & County of Denver Colorado, Series 2018-A-1 (a)   5.000%   08/01/41    2,780,000    3,314,705 
City & County of Denver Colorado, Series 2018-A-1 (a)   5.000%   08/01/48    14,000,000    16,496,060 
Park Creek Metropolitan District, Series 2015-A (a)   5.000%   12/01/26    730,000    879,460 
Park Creek Metropolitan District, Series 2015-A (a)   5.000%   12/01/27    620,000    744,862 
Park Creek Metropolitan District, Series 2017-A (a)   5.000%   12/01/36    300,000    349,713 
Park Creek Metropolitan District, Series 2017-A (a)   5.000%   12/01/37    400,000    465,420 
Park Creek Metropolitan District, Series 2017-A (a)   5.000%   12/01/41    1,500,000    1,733,265 
Park Creek Metropolitan District, Series 2015-A (a)   5.000%   12/01/45    550,000    632,313 
Park Creek Metropolitan District, Series 2017-A (a)   5.000%   12/01/46    4,930,000    5,665,211 
Plaza Metropolitan District No. 1, 144A, Series 2013 (f)   5.000%   12/01/22    1,500,000    1,567,410 
Rampart Range Colorado Metropolitan District No. 1, AGM, Series 2017 (a) (b)   5.000%   12/01/42    1,905,000    2,286,114 
Rampart Range Colorado Metropolitan District No. 1, AGM, Series 2017 (a) (b)   5.000%   12/01/47    8,150,000    9,709,340 
Southglenn Metropolitan District Colorado, Series 2016 (a)   3.500%   12/01/26    3,000,000    2,966,040 
Southglenn Metropolitan District Colorado, Series 2016 (a)   5.000%   12/01/30    3,505,000    3,624,030 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Public Services - 12.5% (Continued)                    
Triview Colorado Metropolitan District Water & Wastewater Enterprise, Series 2020 (a)   4.000%   12/01/40   $410,000   $453,235 
                   57,100,416 
Recreation - 0.6%                    
City & County of Denver Colorado, Series 2016-A (a)   5.000%   08/01/44    1,820,000    2,090,070 
Hyland Hills Park & Recreation District, Series 2016-A   2.000%   12/15/21    250,000    255,160 
Hyland Hills Park & Recreation District, Series 2016-A   2.000%   12/15/22    300,000    311,214 
Hyland Hills Park & Recreation District, Series 2016-A   3.000%   12/15/23    200,000    217,010 
                   2,873,454 
Tax - 5.1%                    
City of Commerce Colorado, AGM, Series 2014 (a) (b)   5.000%   08/01/28    600,000    700,188 
City of Commerce Colorado, AGM, Series 2015 (a) (b)   5.000%   08/01/36    1,945,000    2,316,495 
City of Commerce Colorado, AGM, Series 2014 (a) (b)   4.250%   08/01/40    1,155,000    1,254,988 
City of Idaho Springs Colorado Sales Tax Revenue, AGM, Series 2018 (a) (b)   5.000%   12/01/33    490,000    599,745 
City of Idaho Springs Colorado Sales Tax Revenue, AGM, Series 2018 (a) (b)   5.000%   12/01/34    525,000    640,836 
Denver Colorado Urban Renewal Authority Tax Increment, Series 2013-A-1 (a)   5.000%   12/01/23    190,000    203,617 
Denver Colorado Urban Renewal Authority Tax Increment, Series 2013-A-1 (a)   5.000%   12/01/25    1,500,000    1,603,530 
Denver Colorado Urban Renewal Authority Tax Increment, Series 2018-A (a)   5.250%   12/01/39    4,000,000    4,116,280 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Tax - 5.1% (Continued)                    
Denver Colorado Urban Renewal Authority Tax Increment, Series 2018-A (a)   5.250%   12/01/39   $3,000,000   $3,087,210 
Grand Junction Colorado, Series 2020-B (a)   4.000%   03/01/45    1,500,000    1,748,460 
Grand Junction Colorado, Series 2020-B (a)   4.000%   03/01/49    2,435,000    2,822,262 
Superior Open Space Sales and Use Tax Colorado, Series 2020 (a)   5.000%   06/01/35    1,000,000    1,281,840 
Superior Open Space Sales and Use Tax Colorado, Series 2020 (a)   5.000%   06/01/40    750,000    936,390 
Thornton Colorado Development Authority, Series 2015-B (a)   5.000%   12/01/30    500,000    588,595 
Thornton Colorado Development Authority, Series 2015-B (a)   5.000%   12/01/31    1,000,000    1,175,830 
                   23,076,266 
Transportation - 9.1%                    
Auraria Higher Education Center, AGM, Series 2015 (a) (b)   4.000%   04/01/29    3,500,000    3,918,250 
Colorado High Performance Transportation Enterprise C-470 Express Lanes, Series 2017 (a)   5.000%   12/31/47    1,600,000    1,730,864 
Colorado High Performance Transportation Enterprise C-470 Express Lanes, Series 2017 (a)   5.000%   12/31/51    4,500,000    4,857,885 
Denver Colorado City and County Airport, Series 2017-B (a)   5.000%   11/15/33    900,000    1,099,206 
Denver Colorado City and County Airport, Series 2018-A (a)   5.000%   12/01/43    2,000,000    2,362,840 
E-470 Public Highway Authority Colorado, Series 2017-B (1MO LIBOR + 105) (a) (e)   1.320%   09/01/39    1,000,000    1,002,820 
E-470 Public Highway Authority Colorado, Series 2020-A (a)   5.000%   09/01/40    7,250,000    8,255,720 
Grand Junction Regional Airport Authority, NATL, Series 2016-A (a) (b)   5.000%   12/01/31    1,155,000    1,354,734 
Regional Transportation District Colorado, Series 2010 (a)   6.000%   01/15/26    800,000    801,536 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Transportation - 9.1% (Continued)                    
Regional Transportation District Colorado, Series 2010 (a)   6.000%   01/15/34   $4,000,000   $4,007,800 
Regional Transportation District Colorado, Series 2010 (a)   6.000%   01/15/41    11,830,000    11,853,069 
                   41,244,724 
Utilites - 1.7% (Continued)                    
City of Colorado Springs Colorado Utilities System, Series 2020-A   5.000%   11/15/23    155,000    178,159 
City of Colorado Springs Colorado Utilities System, Series 2020-A   5.000%   11/15/29    25,000    34,179 
City of Colorado Springs Colorado Utilities System, Series 2020-C   5.000%   11/15/50    3,000,000    3,903,300 
Town of Firestone Colorado Water Enterprise, Series 2020   2.000%   12/01/23    15,000    15,722 
Town of Firestone Colorado Water Enterprise, Series 2020   5.000%   12/01/25    25,000    30,557 
Town of Firestone Colorado Water Enterprise, Series 2020   5.000%   12/01/26    20,000    25,114 
Town of Firestone Colorado Water Enterprise, Series 2020   4.000%   12/01/45    1,850,000    2,201,093 
Town of Firestone Colorado Water Enterprise, Series 2020   4.000%   12/01/49    1,350,000    1,597,010 
                   7,985,134 
Utilities - 6.1%                    
Arapahoe County Water & Wastewater Public Improvement District, Series 2019   5.000%   12/01/23    125,000    143,802 
Centennial Water & Sanitation District, Series 2019 (a)   5.250%   12/01/48    8,750,000    11,016,075 
City of Colorado Springs Colorado Utilities System, Series A-2   5.000%   11/15/47    5,000,000    6,117,800 
Eagle River Colorado Water & Sanitation District, Series 2020-A   4.000%   12/01/27    35,000    42,633 
Eagle River Colorado Water & Sanitation District, Series 2020-A (a)   4.000%   12/01/45    1,120,000    1,317,546 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Utilities - 6.1% (Continued)                    
Eagle River Colorado Water & Sanitation District, Series 2020-A (a)   4.000%   12/01/49   $2,000,000   $2,334,960 
East Cherry Creek Valley Colorado Water and Sanitation District Arapahoe County, Series 2019-A (a)   4.000%   11/15/36    350,000    414,785 
East Cherry Creek Valley Colorado Water and Sanitation District Arapahoe County, Series 2019-A (a)   4.000%   11/15/38    1,000,000    1,177,050 
East Cherry Creek Valley Colorado Water and Sanitation District Arapahoe County, Series 2019-A (a)   4.000%   11/15/40    1,000,000    1,169,760 
Fort Lumpton Colorado Water System Revenue, AGM, Series 2017 (a) (b)   5.000%   12/01/36    800,000    989,952 

Puerto Rico Electric Power Authority, AGM, Series UU

(3MO LIBOR + 52) (a) (b) (e)

   0.706%   07/01/29    400,000    352,500 
Todd Creek Village Metropolitan District Colorado, Series 2018-A   5.000%   12/01/28    1,200,000    1,418,940 
Todd Creek Village Metropolitan District Colorado, Series 2018-A (a)   5.250%   12/01/38    1,000,000    1,161,820 
                   27,657,623 
Variable Rate Demand Note - 4.9%                    
City of Colorado Springs Colorado Utilities System, Series 2007-A (e)   0.120%   11/01/37    10,000,000    10,000,000 
City of Colorado Springs Colorado Utilities System, Series 2010-C (e)   0.120%   11/01/40    1,600,000    1,600,000 
City of Colorado Springs Colorado Utilities System, Series 2012-A (a) (e)   0.120%   11/01/41    4,985,000    4,985,000 

 

 

 

SEGALL BRYANT & HAMILL COLORADO TAX-FREE FUND
STATEMENT OF INVESTMENTS (Continued)
 
MUNICIPAL BONDS - 95.9% (Continued)  Coupon  Maturity  Par Value  Value
Variable Rate Demand Note - 4.9% (Continued)                    
Colorado Housing & Financial Authority, Series 2019-G-2 (e)   0.230%   05/01/44    5,600,000   $5,600,000 
                   22,185,000 
                     
Investments at Value – 95.9% (Cost $422,492,336)                 $437,078,860 
                     
Other Assets in Excess of Liabilities – 4.1%                  18,567,579 
                     
Net Assets - 100.0%                 $455,646,439 

 

(a) Security can be called and redeemed at the option of the issuer prior to the stated maturity date which is included in the Statement of Investments.
(b) This security is insured. In the event of a default by the bond issuer, the issuer, as noted in the security description, guarantees that scheduled principal and interest payments will be made when due.
(c) Percentage rounds to less than 0.1%.
(d) This security is prerefunded in advance of the next call date.
(e) Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of September 30, 2020. For securities based on a published reference rate and spread, the reference rate and spread (in basis points) are indicated parenthetically. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities, therefore, do not indicate a reference rate and spread.
(f) Security was purchased in a transaction exempt from registration in compliance with Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. The total value of such securities is $5,547,834 as of September 30, 2020, representing 1.2% of net assets.

 

The Fund's sector and industry classifications presented herein refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. For Fund compliance purposes, sector and industry classifications are based on the sector and industry categorization methodology of the Adviser to the Funds. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

 

See notes to Quarterly Statements of Investments.

 

 

 

 

SEGALL BRYANT & HAMILL FUNDS

STATEMENT OF INVESTMENTS

September 30, 2020 (Unaudited)

 

COMMON ABBREVIATIONS

 

A.B. Aktiebolag is the Swedish equivalent of the term corporation.
ADR American Depositary Receipt.
A.G. Aktiengesellschaft is a German term that refers to a corporation that is limited by shares, i.e., owned by shareholders.
AGM Assured Guaranty Municipal.
A.S. Andonim Sirketi, Joint Stock Company in Turkey.
A/S Aktieselskab is a Danish Joint Stock Company.
BAM Build America Mutual.
BV Besloten Vennootschap is the Dutch term for a private limited liability corporation.
COP Certificate of Participation.
CV Convertible Security.
GDR Global Depositary Receipt.
KGaA Kommanditgesellschaft auf Aktien is a German corporate designation standing for partnership limited by shares.
LIBOR London Interbank Offered Rate.
LLC Limited Liability Company.
LP Limited Partnership.
Ltd. Limited.
NA National Association.
NATL National Public Finance Guarantee Corp.
N.V. Naamloze Vennootschap is the Dutch term for a public limited liability corporation.
OYJ Julkinen osakeyhtiö means public stock company.
PCL Public Company Limited.
PJSC Public Joint-Stock Company.
PLC Public Limited Company.
REIT(s) Real Estate Investment Trust.
S.A. Generally designates corporations in various countries, mostly those employing the civil law. This translates literally in all languages mentioned as anonymous company.
S.A.B de C.V. Sociedad Anónima Bursátil de Capital Variable is the Mexican term for publicly traded companies.
SARL Societe Anonyme a Responsabilite Limitee is the French term for Limited Liability Company.
S.E. SE Regulation. A European Company which can operate on a Europe-wide basis and be governed by Community law directly applicable in all Member States.
S.p.A. Societa per azioni is the Italian equivalent of the term Public Limited Companies.

 

CURRENCY ABBREVIATIONS

 

AED United Arab Emirates Dirham
AUD Australian Dollar
BRL Brazilian Dollar
CAD Canadian Dollar
CHF Swiss Franc
CLP Chilean Peso
COP Colombian Peso
CZK Czech Republic Koruna
DKK Danish Krone
EUR Euro Currency
GBP British Pound
HKD Hong Kong Dollar
HUF Hungarian Forint
IDR Indonesian Rupiah
ILS Israeli Shekel
INR Indian Rupee
JPY Japanese Yen
KRW South Korean Won
MXP Mexican Peso
NOK Norwegian Krone
NZD New Zealand Dollar
PHP Philippine Peso
PLN Polish Zloty
QAR Qatari Rial
RUB Russian Ruble
SAR Saudi Riyal
SEK Swedish Krona
SGD Singapore Dollar
THB Thai Baht
TRY Turkish Lira
TWD New Taiwan Dollar
ZAR South African Rand

 

LIBOR Rates as of September 30, 2020:

1MO LIBOR 0.15%

3MO LIBOR 0.23%

 

 

 

NOTES TO QUARTERLY STATEMENTS OF INVESTMENTS

September 30, 2020 (Unaudited)

 

1. ORGANIZATION

 

Segall Bryant & Hamill Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company. Interests in the Segall Bryant & Hamill Small Cap Value Fund, Segall Bryant & Hamill Small Cap Growth Fund, Segall Bryant & Hamill Small Cap Core Fund, Segall Bryant & Hamill All Cap Fund, Segall Bryant & Hamill Emerging Markets Fund, Segall Bryant & Hamill International Small Cap Fund, Segall Bryant & Hamill Fundamental International Small Cap Fund, Segall Bryant & Hamill Global All Cap Fund (formally known as Segall Bryant & Hamill Global Large Cap Fund), Segall Bryant & Hamill Workplace Equality Fund, Segall Bryant & Hamill Short Term Plus Fund, Segall Bryant & Hamill Plus Bond Fund, Segall Bryant & Hamill Quality High Yield Fund, Segall Bryant & Hamill Municipal Opportunities Fund and Segall Bryant & Hamill Colorado Tax Free Fund (the “Funds”) are represented by separate classes of beneficial interest of the Trust, which is organized as a Massachusetts business trust. All of the Funds offer Retail Class shares and Institutional Class shares. All classes of shares have identical rights to earnings, assets and voting privileges, except for class specific expenses and exclusive rights to vote on matters solely affecting such class.

 

2. SIGNIFICANT ACCOUNTING POLICIES

 

The following is a summary of significant accounting policies consistently followed by each Fund in the preparation of its financial statements. Each Fund is considered an investment company for financial reporting purposes. The following policies are in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for investment companies.

 

Use of Estimates – The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. The actual results could differ from those estimates.

 

Investment Valuation – All securities of the Funds are valued as of the close of regular trading on the New York Stock Exchange (“NYSE”), currently 4:00 p.m. (Eastern Time), on each day that the NYSE is open, subject to provisions in the prospectus and/or Statement of Additional Information regarding pricing at other times in case of an emergency and optional pricing of the Funds in the event that the NYSE does not open for business because of an emergency.

 

Securities that are traded on a recognized domestic stock exchange are generally valued at the last sales price as of the valuation time on the principal stock exchange on which they are traded. Securities that are principally traded on the National Association of Securities Dealers Automated Quotation (“NASDAQ”) exchange are generally valued at the NASDAQ Official Closing Price (“NOCP”). Unlisted securities that are traded on the domestic over-the-counter market for which last sales prices are available, are generally valued at the last sales price as of the valuation time. In the absence of sales and NOCP, such securities are valued at the bid price.

 

Securities that are traded on a foreign stock exchange (and that are not listed on a recognized domestic stock exchange or traded on the NASDAQ exchange or the domestic over-the-counter market) are generally valued at the official closing price on the principal stock exchange on which they are traded. When an event occurs subsequent to the close of the foreign exchange and the close of the NYSE that was likely to have changed such value, the fair value of those securities are determined in good faith in accordance with procedures established by and under the general supervision of the Board of Trustees. The Funds will use a fair valuation model provided by an independent pricing service, which is intended to reflect fair value when a security’s value is believed to have been materially affected by a valuation event that has occurred between the close of the exchange or market on which the security is traded and the close of the regular trading day on the NYSE. In the event that closing prices are not available for such foreign securities, such securities are generally valued at the last sales price occurring prior to the closing of its principal exchange.

 

Forward foreign currency contracts have a fair value determined by an automated system that estimates rates on the basis of the current day foreign currency exchange rates and forward foreign currency exchange rates supplied by a pricing vendor. Foreign currency exchange rates and forward foreign currency exchange rates may generally be obtained at the close of the NYSE.

 

Redeemable securities issued by open-end registered investment companies are valued at the investment company’s applicable net asset value.

 

Fixed-income obligations, having a remaining maturity of greater than 60 days, are typically valued at the evaluated price formulated by an independent pricing service.

 

 

 

When market quotations are not readily available or when events occur that make established valuation methods unreliable, securities of the Fund may be valued in good faith by or under the direction of the Board of Trustees. Factors which may be considered when determining the value of a security include (a) the fundamental data relating to the investment; (b) an evaluation of the forces which influence the market in which the security is sold, including the liquidity and depth of the market; (c) the market value at date of purchase; (d) information as to any transactions or offers with respect to the security or comparable securities; and (e) any other relevant matters.

 

Market, Credit and Counterparty Risk – In the normal course of business, the Funds invest in securities and enter into transactions where risks exist due to fluctuations in the market (market risk) or failure of the issuer of a security to meet all its obligations (issuer credit risk). The value of securities held by the Funds may decline in response to certain events, including those directly involving the issuers whose securities are owned by the Funds; conditions affecting the general economy; overall market changes; local, regional, national or global political, social or economic instability; and currency and interest rate and price fluctuations. Similar to issuer credit risk, the Funds may be exposed to counterparty credit risk, or the risk that an entity with which the Funds have unsettled or open transactions may fail to or be unable to perform on its commitments. The Funds manage counterparty credit risk by entering into transactions only with counterparties that they believe have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties.

 

Securities Traded on Foreign Exchanges – All of the Funds, except the Segall Bryant & Hamill Colorado Tax Free Fund, may invest at least a portion of their assets in foreign securities. As of September 30, 2020, all Funds were primarily invested in securities traded on U.S. exchanges, except Segall Bryant & Hamill Emerging Markets Fund, Segall Bryant & Hamill International Small Cap Fund, Segall Bryant & Hamill Fundamental International Small Cap Fund and Segall Bryant & Hamill Global All Cap Fund. In the event that a Fund executes a security transaction on a foreign exchange, the Fund will generally enter into a foreign currency contract to settle the foreign security transaction. Foreign securities may carry more risk than U.S. securities, such as political, market and currency risks. The accounting records of the Funds are maintained in U.S. dollars. Prices of securities denominated in foreign currencies are translated into U.S. dollars at the closing rates of exchange at period end. Amounts related to the purchase and sale of foreign securities and investment income are translated at the rates of exchange prevailing on the respective dates of such transactions.

 

The portion of realized and unrealized gains or losses on investments due to fluctuations in foreign currency exchange rates is not separately disclosed and is included in realized and unrealized gains or losses on investments, when applicable.

 

Country Risk – As of September 30, 2020, the Segall Bryant & Hamill Emerging Markets Fund invested a significant percentage of its assets in China and the Segall Bryant & Hamill International Small Cap Fund invested a significant percentage of its assets in Japan. Therefore, they may be more affected by economic developments and currency fluctuations in these countries.

 

Sector Concentration Risk – The Funds may concentrate investments in companies that are in a single sector or related sector. Concentrating investments in a single sector may make the Fund more susceptible to adverse economic, business, regulatory or other developments affecting that sector. If an economic downturn occurs in a sector in which the Fund’s investments are concentrated, the Fund may perform poorly during that period.

 

When-Issued/Forward Commitment Securities – Each Fund may purchase or sell securities on a “when-issued” or “forward commitment” basis which involves a commitment by the Fund to purchase or sell particular securities with payment and delivery taking place at a future date. During this period, such securities do not earn interest, are subject to market fluctuation and may increase or decrease in value prior to their delivery. In accordance with the U.S. Securities and Exchange Commission guidance, each Fund segregates liquid assets in an amount sufficient to satisfy the purchase price. The purchase of securities on a when-issued or forward commitment basis may increase the volatility of the Fund’s net asset value to the extent each Fund makes such purchases while remaining substantially fully invested. Settlements in the ordinary course of business, which may take substantially more than three business days for non-U.S. securities, are not treated by the Funds as “when-issued” or “forward commitment” transactions.

 

3. FAIR VALUE MEASUREMENTS

 

A three-tier hierarchy has been established to measure fair value based on the extent of use of “observable inputs” as compared to “unobservable inputs” for disclosure purposes and requires additional disclosures about these valuations measurements. Inputs refer broadly to the assumptions that market participants would use in pricing a security. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the security developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the security developed based on the best information available in the circumstances.

 

 

 

The three-tier hierarchy is summarized as follows:

 

Level 1 – Unadjusted Quoted Prices in active markets for identical investments

Level 2 – Other Significant Observable Inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – Significant Unobservable Inputs (including the Fund’s own assumptions in determining the fair value of investments).

 

The following is a summary of the inputs used as of September 30, 2020 in valuing the Funds’ assets:

 

Segall Bryant & Hamill Small Cap Value Fund  Level 1  Level 2  Level 3  Total
             
Common Stocks  $260,239,322   $-   $-   $260,239,322 
Total  $260,239,322   $-   $-   $260,239,322 

 

 

Segall Bryant & Hamill Small Cap Growth Fund  Level 1  Level 2  Level 3  Total
             
Common Stocks  $79,624,175   $-   $-   $79,624,175 
Total  $79,624,175   $-   $-   $79,624,175 

 

 

Segall Bryant & Hamill Small Cap Core Fund  Level 1  Level 2  Level 3  Total
             
Common Stocks  $33,276,223   $-   $-   $33,276,223 
Total  $33,276,223   $-   $-   $33,276,223 

 

 

Segall Bryant & Hamill All Cap Fund  Level 1  Level 2  Level 3  Total
             
Common Stocks  $144,203,613   $-   $-   $144,203,613 
Total  $144,203,613   $-   $-   $144,203,613 

 

 

Segall Bryant & Hamill Emerging Markets Fund  Level 1  Level 2  Level 3  Total
             
Common Stocks  $7,096,674   $23,075,308   $0*  $30,171,982 
Preferred Stocks   199,430    581,354    -    780,784 
Total  $7,296,104   $23,656,662   $0   $30,952,766 

 

 

Segall Bryant & Hamill International Small Cap Fund  Level 1  Level 2  Level 3  Total
             
Common Stocks  $13,197,067   $178,385,508   $264,705*  $191,847,280 
Preferred Stocks   311,026    693,900    -    1,004,926 
Total  $13,508,093   $179,079,408   $264,705   $192,852,206 

 

 

Segall Bryant & Hamill Fundamental International Small Cap Fund  Level 1  Level 2  Level 3  Total
             
Common Stocks  $9,930,621   $29,122,876   $-   $39,053,497 
Total  $9,930,621   $29,122,876   $-   $39,053,497 
                     
Other Financial Instruments**                    
Forward Foreign Currency Contracts, Unrealized Gain  $-   $153,183   $-   $153,183 
Forward Foreign Currency Contracts, Unrealized Loss   -    (104,253)   -    (104,253)
   $-   $48,930   $-   $48,930 

 

 

Segall Bryant & Hamill Global All Cap Fund  Level 1  Level 2  Level 3  Total
             
Common Stocks  $27,718,774   $6,836,115   $-   $34,554,889 
Total  $27,718,774   $6,836,115   $-   $34,554,889 

 

 

 

 

Segall Bryant & Hamill Workplace Equality Fund  Level 1  Level 2  Level 3  Total
             
Common Stocks  $17,582,332   $-   $-   $17,582,332 
Total  $17,582,332   $-   $-   $17,582,332 

 

 

Segall Bryant & Hamill Short Term Plus Fund  Level 1  Level 2  Level 3  Total
             
Corporate Bonds  $-   $18,341,690   $-   $18,341,690 
Municipal Bonds   -    869,071    -    869,071 
Asset Backed Securities   -    22,945    -    22,945 
Commercial Mortgage-Backed Securities   -    11,485    -    11,485 
U.S. Treasury Bonds & Notes   -    221,945    -    221,945 
Total  $-   $19,467,136   $-   $19,467,136 

 

 

Segall Bryant & Hamill Plus Bond Fund  Level 1  Level 2  Level 3  Total
             
Corporate Bonds  $-   $520,313,213   $-   $520,313,213 
Municipal Bonds   -    101,324,013    -    101,324,013 
Asset Backed Securities   -    29,541,365    -    29,541,365 
Mortgage-Backed Passthrough Securities   -    253,272,980    -    253,272,980 
Residential Mortgage-Backed Securities   -    5,867,676    -    5,867,676 
U.S. Treasury Bonds & Notes   -    146,684,289    -    146,684,289 
Total  $-   $1,057,003,536   $-   $1,057,003,536 

 

 

Segall Bryant & Hamill Quality High Yield Fund  Level 1  Level 2  Level 3  Total
             
Corporate Bonds  $-   $66,739,227   $-   $66,739,227 
Asset Backed Securities   -    1,125,957    -    1,125,957 
Total  $-   $67,865,184   $-   $67,865,184 

 

 

Segall Bryant & Hamill Municipal Opportunities Fund  Level 1  Level 2  Level 3  Total
             
Municipal Bonds  $-   $109,611,985   $-   $109,611,985 
Corporate Bonds   -    2,970,871    -    2,970,871 
Total  $-   $112,582,856   $-   $112,582,856 

 

 

Segall Bryant & Hamill Colorado Tax Free Fund  Level 1  Level 2  Level 3  Total
             
Municipal Bonds  $-   $437,078,860   $-   $437,078,860 
Total  $-   $437,078,860   $-   $437,078,860 

 

 

*Includes securities that have been fair valued at $0.
**Other financial instruments are derivative instruments not reflected in the Statements of Investments. These forward foreign currency contracts are valued at the unrealized appreciation (depreciation) on the instrument.

 

The following is a reconciliation of Level 3 instruments of the Funds for which significant unobservable inputs were used to determine fair value for the period ended September 30, 2020:  

 

Segall Bryant & Hamill Emerging Markets Fund

                   

Asset Type  Balance as of December 31, 2019  Net Purchases  Net Sales  Paydowns  Realized Gains  Change in Unrealized Appreciation (Depreciation)  Transfer Into Level 3  Transfer Out of Level 3  Balance as of September 30, 2020
Common Stocks  $0   $-   $-   $-   $-   $-   $-   $-   $0 

 

 

 

Segall Bryant & Hamill International Small Cap Fund

                   

Asset Type  Balance as of December 31, 2019  Net Purchases/ Received in Corporate Action  Net Sales  Paydowns  Realized Gains  Change in Unrealized Appreciation (Depreciation)  Transfer Into Level 3  Transfer Out of Level 3  Balance as of September 30, 2020
Common Stocks  $92,120   $165,030   $-   $-   $-   $(18,898)  $26,453   $-   $264,705 

 

The following table presents additional information about valuation methodologies and inputs used for investments that are measured at fair value and categorized within Level 3 as of September 30, 2020:

 

   Fair Value as of September 30, 2020  Valuation Technique  Unobservable Input (1)  Value  Impact to Valuation from an Increase in Input (2)
Segall Bryant & Hamill International Small Cap Fund  $264,705   Adjusted trade price  Discount factor   0% - 17%   Decrease

 

(1)The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security; contractual or legal restrictions on resale of the security; relevant financial or business developments of the issuer; actively traded related securities; conversion or exchange rights on the security; related corporate actions; significant events occurring after the close of trading in the security; and changes in overall market conditions. The Fund’s use of fair value pricing may cause the net asset value of Fund shares to differ from the net asset value that would be calculated using market quotations. Fair value pricing involves subjective judgments and it is possible that the fair value determined for a security may be materially different than the value that could be realized upon the sale of that security.

 

(2)This column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect.

 

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

 

For fair value measurements using significant other observable inputs (Level 2), the Funds utilize an independent pricing service which utilizes evaluated pricing models that vary by asset class and incorporate available trade, bid and other market information, and for structured securities also incorporate cash flow and, when available, loan performance data. The independent pricing service’s evaluated pricing models apply available market information through processes such as benchmark curves, benchmarking of similar securities, and sector groupings. For certain securities, the independent pricing service uses model processes, such as the Option Adjusted Spread (benchmark driven) model, to assess interest rate impact and develop prepayment scenarios. With respect to trades and bids, the independent pricing service reviews the lot size to determine whether the information is representative of an orderly trading market. If the independent pricing service determines that trade or bid information is not consistent with other information available, the trade or bid will not be reflected in the evaluated price.

 

Corporate bonds, Municipal bonds, U.S. Treasury bonds & notes are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information. Mortgage-related and asset-backed securities are valued based on models that consider trade data, prepayment and default projections, benchmark yield and spread data and estimated cash flows of each tranche of the issuer. Forward foreign currency contracts are normally valued on the basis of quotes obtained from brokers and dealers or independent pricing services.

 

In the event the independent pricing service is unable to provide an evaluated price for a security or Segall Bryant & Hamill, LLC (the “Adviser”) believes the price provided is not reliable, securities of the Funds may be valued in good faith as described above. In these instances, the co-administrators will typically seek input from the investment team of the Fund since they are typically the most knowledgeable of the relevant factors in valuing the securities. The Adviser may seek to find an alternative independent source, such as a broker/dealer to provide a price quote, or by using evaluated pricing models similar to the techniques and models used by the independent pricing service. These fair value measurement techniques may utilize unobservable inputs (Level 3).

 

At least quarterly, the Adviser receives a report on the pricing for all fair valued securities during the period along with any actual sales prices, broker quotes and/or pricing from the independent pricing service. The Adviser uses this information to analyze changes in fair value measurements over the period and as a back test of pricing methods.

 

 

 

Then on at least a quarterly basis, the Adviser presents the factors considered in determining the fair value measurements and presents that information to the Audit Committee of the Board of Trustees which meets at least quarterly. The Audit Committee of the Board of Trustees then will provide a recommendation to the Board of Trustees for approval of the fair value measurements.