NPORT-EX 2 global-equity.htm NPORT-EX

Boston Partners Global Equity Fund
  
Schedule of Investments
  
November 30, 2024 (Unaudited)
  
   
COMMON STOCKS - 97.1%
  
Shares
    
Value
 
Bermuda - 4.0%
        
Everest Group Ltd. (a)
    
8,456
    
$
3,277,207
  
Hiscox Ltd.
    
194,719
      
2,601,336
  
RenaissanceRe Holdings Ltd.
    
12,488
      
3,573,441
  
             
9,451,984
  
                 
Canada - 0.8%
          
Cenovus Energy, Inc.
    
59,352
      
940,272
  
Teck Resources Ltd. - Class B
    
20,465
      
955,306
  
             
1,895,578
  
                 
Finland - 1.3%
          
Nordea Bank Abp
    
267,194
      
3,018,151
  
                 
France - 12.2%
          
Airbus Group SE
    
12,725
      
1,988,987
  
Alten SA
    
10,036
      
800,865
  
BNP Paribas SA
    
57,209
      
3,419,703
  
Capgemini SE
    
14,309
      
2,300,169
  
Cie de Saint-Gobain SA
    
40,551
      
3,702,679
  
Cie Generale des Etablissements Michelin SCA
    
37,020
      
1,204,367
  
Eiffage SA
    
25,420
      
2,295,182
  
Rexel SA
    
134,459
      
3,475,529
  
Sanofi SA
    
16,832
      
1,634,842
  
Sodexo SA
    
20,222
      
1,679,646
  
SPIE SA
    
64,160
      
2,022,210
  
TotalEnergies SE
    
48,672
      
2,828,819
  
Vallourec SACA (b)
    
85,529
      
1,502,323
  
             
28,855,321
  
                 
Germany - 6.3%
          
Commerzbank AG
    
73,348
      
1,125,549
  
Deutsche Telekom AG
    
125,930
      
4,028,610
  
Evonik Industries AG
    
62,135
      
1,142,304
  
Infineon Technologies AG
    
49,152
      
1,602,198
  
Rheinmetall AG
    
3,582
      
2,362,669
  
Siemens AG
    
24,328
      
4,725,894
  
             
14,987,224
  
                 
Greece - 0.5%
          
Hellenic Telecommunications Organization SA
    
73,513
      
1,161,692
  
                 
Ireland - 1.9%
          
AIB Group PLC
    
438,742
      
2,394,189
  
Ryanair Holdings PLC - ADR
    
47,272
      
2,081,859
  
             
4,476,048
  
                 
Italy - 1.5%
          
Enel SpA
    
312,063
      
2,247,314
  
Italgas SpA
    
229,216
      
1,374,901
  
             
3,622,215
  
                 
Japan - 6.0%
          
Asahi Group Holdings Ltd.
    
141,600
      
1,544,507
  
Fuji Electric Co., Ltd.
    
21,200
      
1,197,928
  
Kansai Paint Co., Ltd.
    
66,100
      
943,707
  
Mitsubishi Chemical Group Corp.
    
210,400
      
1,106,937
  
Mitsubishi UFJ Financial Group, Inc.
    
109,800
      
1,310,564
  
Renesas Electronics Corp.
    
96,700
      
1,268,326
  
Sony Group Corp.
    
198,400
      
3,983,144
  
Sugi Holdings Co., Ltd.
    
67,500
      
1,142,356
  
Sumitomo Mitsui Financial Group, Inc.
    
67,200
      
1,658,552
  
             
14,156,021
  
                 
Netherlands - 3.5%
          
Aalberts NV
    
38,524
      
1,476,791
  
Akzo Nobel NV
    
15,828
      
924,177
  
Heineken NV
    
17,305
      
1,280,915
  
ING Groep NV
    
216,557
      
3,343,063
  
Koninklijke Ahold NV
    
38,547
      
1,329,979
  
             
8,354,925
  
                 
Singapore - 1.5%
          
United Overseas Bank Ltd.
    
135,000
      
3,665,353
  
                 
South Korea - 3.2%
          
Hana Financial Group, Inc.
    
27,464
      
1,231,568
  
KB Financial Group, Inc.
    
21,183
      
1,463,004
  
KT Corp.
    
76,321
      
2,681,857
  
Samsung Fire & Marine Insurance Co. Ltd.
    
7,559
      
2,138,573
  
             
7,515,002
  
                 
Spain - 1.5%
          
Banco Bilbao Vizcaya Argentaria SA
    
212,649
      
2,008,710
  
Bankinter SA
    
196,205
      
1,552,108
  
             
3,560,818
  
                 
Sweden - 1.2%
          
Loomis AB
    
40,979
      
1,255,534
  
Svenska Handelsbanken AB - Class A
    
164,504
      
1,710,910
  
             
2,966,444
  
                 
Switzerland - 2.0%
          
Glencore PLC
    
294,480
      
1,425,925
  
Sandoz Group AG
    
72,459
      
3,311,401
  
             
4,737,326
  
                 
United Kingdom - 18.4%
          
AstraZeneca PLC
    
13,169
      
1,782,342
  
Barratt Developments PLC
    
376,698
      
2,051,505
  
Beazley PLC
    
273,724
      
2,704,329
  
Coca-Cola Europacific Partners PLC
    
40,915
      
3,174,186
  
Hikma Pharmaceuticals PLC
    
71,030
      
1,739,327
  
IMI PLC
    
131,680
      
3,050,489
  
Inchcape PLC
    
138,319
      
1,355,527
  
Informa PLC
    
202,647
      
2,210,703
  
Marks & Spencer Group PLC
    
563,479
      
2,746,745
  
Melrose Industries PLC
    
233,059
      
1,705,352
  
NatWest Group PLC
    
741,747
      
3,804,654
  
Nomad Foods Ltd.
    
98,718
      
1,807,526
  
Shell PLC
    
103,216
      
3,317,042
  
SSE PLC
    
128,781
      
2,904,413
  
Tesco PLC
    
1,009,850
      
4,710,397
  
Travis Perkins PLC (b)
    
79,867
      
772,867
  
Weir Group PLC
    
89,249
      
2,525,077
  
WH Smith PLC
    
76,437
      
1,196,319
  
             
43,558,800
  
                 
United States - 31.3%(c)
          
AbbVie, Inc. (a)
    
16,219
      
2,966,942
  
Amgen, Inc.
    
9,399
      
2,658,695
  
Beacon Roofing Supply, Inc. (b)
    
16,959
      
1,916,706
  
Centene Corp. (b)
    
13,633
      
817,980
  
Chubb Ltd.
    
11,466
      
3,310,578
  
Cigna Group
    
4,833
      
1,632,587
  
Cisco Systems, Inc.
    
32,933
      
1,949,963
  
ConocoPhillips
    
13,680
      
1,482,091
  
CRH PLC
    
68,673
      
7,045,584
  
Elevance Health, Inc.
    
1,969
      
801,304
  
Expedia Group, Inc. (b)
    
6,310
      
1,164,952
  
Fidelity National Information Services, Inc.
    
47,055
      
4,013,791
  
Fifth Third Bancorp
    
61,295
      
2,945,838
  
Gap, Inc. (a)
    
54,881
      
1,330,864
  
Gen Digital, Inc.
    
85,376
      
2,633,850
  
Goldman Sachs Group, Inc. (a)
    
6,389
      
3,888,154
  
HCA Healthcare, Inc.
    
3,365
      
1,101,095
  
Huntington Bancshares, Inc.
    
163,852
      
2,950,975
  
J M Smucker Co.
    
16,876
      
1,987,824
  
Jacobs Solutions, Inc.
    
6,627
      
935,931
  
Johnson & Johnson
    
9,879
      
1,531,344
  
JPMorgan Chase & Co.
    
13,340
      
3,331,265
  
Kellanova
    
15,555
      
1,264,466
  
Schlumberger Ltd. (a)
    
56,152
      
2,467,319
  
Southern Co.
    
26,769
      
2,385,921
  
Sysco Corp.
    
20,457
      
1,577,439
  
TE Connectivity PLC
    
7,419
      
1,121,159
  
Textron, Inc.
    
38,276
      
3,277,574
  
United Rentals, Inc.
    
1,641
      
1,421,106
  
US Foods Holding Corp. (b)
    
64,025
      
4,467,024
  
Victoria's Secret & Co. (a)(b)
    
30,251
      
1,174,949
  
Zimmer Biomet Holdings, Inc.
    
22,637
      
2,537,608
  
             
74,092,878
  
TOTAL COMMON STOCKS (Cost $182,839,971)
      
230,075,780
  
                 
SHORT-TERM INVESTMENTS - 3.6%
          
Value
 
Investments Purchased with Proceeds from Securities Lending - 3.6%
  
Units
          
Mount Vernon Liquid Assets Portfolio, LLC, 4.64% (d)
    
8,540,919
      
8,540,919
  
TOTAL SHORT-TERM INVESTMENTS (Cost $8,540,919)
      
8,540,919
  
                 
TOTAL INVESTMENTS - 100.7% (Cost $191,380,890)
      
238,616,699
  
Liabilities in Excess of Other Assets - (0.7)%
      
(1,603,828
)
TOTAL NET ASSETS - 100.0%
          
$
237,012,871
  
two
      
–
%
Percentages are stated as a percent of net assets.
      
–
%

AB - Aktiebolag
ADR - American Depositary Receipt
AG - Aktiengesellschaft
NV - Naamloze Vennootschap
PLC - Public Limited Company
SA - Sociedad Anónima
SE - Societas Europeae
SpA - Societa per Azioni

(a)
All or a portion of this security is on loan as of November 30, 2024. The total market value of these securities was $8,534,135 which represented 3.6% of net assets.
(b)
Non-income producing security.
(c)
To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions affecting the country or region.
(d)
The rate shown represents the 7-day annualized effective yield as of November 30, 2024.



Summary of Fair Value Disclosure as of November 30, 2024 (Unaudited)
 
Boston Partners Global Equity Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
 
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
 
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of November 30, 2024:
 
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
87,835,904
    
$
142,239,876
    
$
–
    
$
230,075,780
  
  Investments Purchased with Proceeds from Securities Lending(a)
    
–
      
–
      
–
      
8,540,919
  
Total Investments
  
$
87,835,904
    
$
142,239,876
    
$
–
    
$
238,616,699
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.
  

(a)
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $8,540,919 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.