Schedule of Investments

July 31, 2022 (Unaudited)

LSV Emerging Markets Equity Fund

	Shares		Value (000)
Foreign Common Stock (94.3%)
Brazil (5.0%)
Banco do Brasil		24,300	$	170
Camil Alimentos		26,100		46
EDP - Energias do Brasil		22,900		96
JBS		26,700		165
Qualicorp Consultoria e Corretora de Seguros		3,000		6
Telefonica Brasil		9,200		79
Vale		10,900		147
Vibra Energia		15,100		49
				758
Chile (0.8%)
Cia Cervecerias Unidas		10,300		59
Vina Concha y Toro		44,300		60
				119
China (3.0%)
China CITIC Bank, Cl H		263,000		110
Haier Smart Home, Cl H		15,800		51
Kunlun Energy		90,000		66
Powerlong Real Estate Holdings		92,000		12
Shanghai Pharmaceuticals Holding, Cl H		36,000		54
Shenzhen Expressway, Cl H		64,000		59
Sinotrans, Cl H		215,000		64
Vipshop Holdings ADR*		5,100		47
				463
Czech Republic (0.2%)
Philip Morris CR		40		28
Egypt (0.5%)
Eastern SAE		62,000		32
ElSewedy Electric		121,500		43
				75
Greece (0.3%)
Motor Oil Hellas Corinth Refineries		2,700		47
Hong Kong (27.0%)
3SBio		89,000		59
Agile Group Holdings		82,000		27
Alibaba Group Holding*		13,400		151
Anhui Conch Cement, Cl H		12,500		50
Asia Cement China Holdings		85,000		42
BAIC Motor, Cl H		305,500		82
Baidu, Cl A*		6,240		108
Bank of China, Cl H		527,000		187
Bank of Communications, Cl H		208,000		124
Beijing Enterprises Holdings		22,500		72
China BlueChemical		174,000		47
China Coal Energy, Cl H		76,000		59
China Everbright		64,000		49

LSV Emerging Markets Equity Fund

	Shares		Value (000)
Hong Kong (continued)
China Everbright Bank, Cl H		158,000	$	48
China Hongqiao Group		58,000		61
China Lesso Group Holdings		85,000		104
China Medical System Holdings		44,000		70
China Merchants Port Holdings		30,000		48
China Minsheng Banking, Cl H		154,000		50
China Pacific Insurance Group, Cl H		25,600		55
China Petroleum & Chemical, Cl H		268,000		126
China Railway Group, Cl H		143,000		85
China Reinsurance Group, Cl H		740,000		59
China Suntien Green Energy, Cl H		88,000		43
China Traditional Chinese Medicine Holdings		144,000		61
China Yongda Automobiles Services Holdings		72,500		63
Country Garden Holdings		93,000		36
Dali Foods Group		101,500		48
Dongfeng Motor Group, Cl H		150,000		104
Far East Horizon		75,000		62
Grand Pharmaceutical Group		55,000		31
Guangzhou Baiyunshan Pharmaceutical Holdings, Cl H		22,000		58
Hengan International Group		11,000		53
IGG		23,000		9
Jiangsu Expressway, Cl H		8,000		7
Kingboard Laminates Holdings		66,000		61
Lenovo Group		178,000		173
Lonking Holdings		152,000		30
Maanshan Iron & Steel, Cl H		134,000		36
NetDragon Websoft Holdings		32,000		64
New China Life Insurance, Cl H		18,600		44
Nine Dragons Paper Holdings		66,000		54
People’s Insurance Group of China, Cl H		310,000		93
PetroChina, Cl H		330,000		154
PICC Property & Casualty, Cl H		118,000		121
Postal Savings Bank of China, Cl H		146,000		97
Shougang Fushan Resources Group		116,000		41
Sinopec Engineering Group, Cl H		124,000		53
Sinopharm Group, Cl H		48,000		110

1

Schedule of Investments

July 31, 2022 (Unaudited)

LSV Emerging Markets Equity Fund

	Shares		Value (000)
Hong Kong (continued)
Sinotruk Hong Kong		37,500	$	44
SITC International Holdings		38,000		129
SSY Group		166,000		94
TCL Electronics Holdings		95,000		45
Vinda International Holdings		23,000		61
Want Want China Holdings		123,000		100
Yuexiu Transport Infrastructure		98,000		55
Zhejiang Expressway, Cl H		68,000		55
Zhengzhou Coal Mining Machinery Group, Cl H		59,000		85
				4,137
Hungary (0.1%)
Magyar Telekom Telecommunications		26,200		21
India (12.2%)
Aurobindo Pharma		4,600		32
Chambal Fertilisers and Chemicals		16,600		68
Coal India		22,100		59
Cyient		3,910		41
GAIL India		73,785		137
Gujarat State Fertilizers & Chemicals		50,600		101
HCL Technologies		8,700		105
Hindustan Aeronautics		3,200		82
Hindustan Petroleum		21,300		65
Indiabulls Housing Finance*		3,100		4
Jubilant Life Sciences, Cl A		4,400		20
Kalpataru Power Transmission		17,800		83
KRBL		20,200		62
National Aluminium		67,900		67
NMDC		44,900		61
NTPC		51,900		100
Oil & Natural Gas		67,600		115
Oracle Financial Services Software		1,701		68
Power Finance		43,900		65
Power Grid Corp of India		27,400		74
REC		37,600		62
Redington India		64,800		102
Tata Steel		114,000		155
UPL		8,200		77
Vedanta		20,400		66
				1,871
Indonesia (2.4%)
Astra International		304,900		130
Bank Negara Indonesia Persero		107,900		57
Bukit Asam		177,000		51
Matahari Department Store		142,600		44
United Tractors		37,700		83
				365
Malaysia (1.7%)
AMMB Holdings		88,000		77

LSV Emerging Markets Equity Fund

	Shares		Value (000)
Malaysia (continued)
RHB Bank		61,300	$	81
Scientex		64,200		49
Tenaga Nasional		28,900		54
				261
Mexico (2.4%)
Cemex*		193,200		78
Fibra Uno Administracion		55,800		57
Grupo Financiero Banorte, Cl O		16,600		94
Grupo Mexico		22,000		87
Megacable Holdings		19,456		45
				361
Philippines (0.7%)
DMCI Holdings		333,300		58
Metro Pacific Investments		808,200		54
				112
Poland (1.4%)
Cyfrowy Polsat		13,800		60
Polskie Gornictwo Naftowe i Gazownictwo		56,500		84
Powszechny Zaklad Ubezpieczen		11,600		76
				220
Russia (–%)
Gazprom PJSC ADR(A)(B)*		11,300		—
LUKOIL PJSC ADR(A)(B)		2,300		—
Mobile TeleSystems PJSC ADR(A)(B)		6,900		—
				—
Singapore (0.4%)
Yangzijiang Shipbuilding Holdings		81,400		55
South Africa (3.5%)
Absa Group		15,100		155
African Rainbow Minerals		4,300		60
Astral Foods		3,800		46
Exxaro Resources		4,000		48
Impala Platinum Holdings		4,700		52
MTN Group		6,600		55
Oceana Group		16,600		49
Telkom SOC		7,500		20
Vodacom Group		6,000		50
				535
South Korea (12.7%)
DB HiTek		1,400		49
DB Insurance		1,100		51
DL E&C		332		10
DL Holdings		133		7
Hana Financial Group		2,400		69
Hankook & Co		5,100		48
Hyundai Glovis		600		84
Hyundai Greenfood		7,000		42

2

Schedule of Investments

July 31, 2022 (Unaudited)

LSV Emerging Markets Equity Fund

	Shares		Value (000)
South Korea (continued)
Hyundai Home Shopping Network		1,000	$	40
Hyundai Marine & Fire Insurance		2,800		71
Kginicis		1,700		18
Kia Motors		2,400		150
KT&G		800		50
LG		800		50
LX Semicon		1,000		77
Maeil Dairies		1,000		46
S&T Motiv		900		30
Samsung Electronics		14,600		691
SFA Engineering		700		23
Shinhan Financial Group		2,900		80
Shinsegae		300		51
SK Square*		785		26
SK Telecom		1,900		78
Value Added Technology		1,400		36
Vieworks		2,300		73
				1,950
Taiwan (16.1%)
ASE Technology Holding		46,000		134
Asia Vital Components		15,000		59
Asustek Computer		6,000		57
Cathay Financial Holding		122,859		187
China Development Financial Holding		99,000		43
China Development Financial Holding		68,375		19
Chipbond Technology		22,000		40
ChipMOS Technologies		58,000		69
Elan Microelectronics		19,000		69
Fubon Financial Holding		54,801		103
Global Mixed Mode Technology		8,000		40
Hon Hai Precision Industry		45,000		164
International Games System		4,000		47
King Yuan Electronics		65,000		86
MediaTek		9,000		207
Novatek Microelectronics		8,000		71
Pou Chen		98,000		88
Powertech Technology		34,000		97
Primax Electronics		25,000		58
Radiant Opto-Electronics		15,000		47
Shin Kong Financial Holding		167,000		48
Sigurd Microelectronics		26,000		44
Simplo Technology		9,000		80
Sino-American Silicon Products		10,000		48
SinoPac Financial Holdings		91,000		52
Synnex Technology International		27,000		50
Topco Scientific		10,000		52
Tripod Technology		11,000		38
United Microelectronics		83,000		112
Wan Hai Lines		13,800		50
Yuanta Financial Holding		146,800		98

LSV Emerging Markets Equity Fund

	Shares		Value (000)
Taiwan (continued)
Zhen Ding Technology Holding		28,000	$	106
				2,463
Thailand (2.5%)
Kasikornbank		24,000		96
Krung Thai Bank		286,900		125
Origin Property		273,000		75
Quality Houses		593,800		35
Supalai		96,600		51
				382
Turkey (1.1%)
Coca-Cola Icecek		6,400		52
Haci Omer Sabanci Holding		52,200		58
Turkiye Sise ve Cam Fabrikalari		47,800		58
				168
United Arab Emirates (0.3%)
Abu Dhabi Commercial Bank PJSC		20,000		50
United Kingdom (–%)
Magnit PJSC GDR		5,000		—
MMC Norilsk Nickel PJSC ADR		3,700		—
				—
TOTAL FOREIGN COMMON STOCK
(Cost $16,588)				14,441
Foreign Preferred Stock (1.7%)
Brazil** (1.6%)
Banco do Estado do Rio Grande do Sul		36,000		70
Cia Paranaense de Energia		52,000		70
Itausa		63,300		106
				246
Colombia** (0.1%)
Banco Davivienda		1,700		12
TOTAL FOREIGN PREFERRED STOCK (Cost $288)				258
Warrants (0.0%)
Thailand (0.0%*)
Thaifoods Group 05/14/2024*		41,710		1
TOTAL WARRANTS (Cost $–)				1

3

Schedule of Investments

July 31, 2022 (Unaudited)

LSV Emerging Markets Equity Fund

	Face Amount (000)		Value (000)
Repurchase Agreement (1.1%)
South Street Securities 1.950%, dated 07/29/2022, to be repurchased on 08/01/2022, repurchase price $177 (collateralized by various U.S. Treasury obligations, ranging in par value $0 - $194, 0.750% - 1.875%, 04/30/2026 - 02/15/2032; total market value $180)	$	177	$	177
TOTAL REPURCHASE AGREEMENT (Cost $177)				177
Total Investments – 97.1% (Cost $17,053)			$	14,877

Percentages are based on Net Assets of $15,321 (000).

* Non-income producing security.

** No rate available.

(A) Level 3 security in accordance with fair value hierarchy.

(B) Security is considered illiquid. The total value of such securities as of July 31, 2022 was $0 and represented 0.0% of Net Assets.

ADR — American Depositary Receipt

Cl — Class

GDR — Global Depositary Receipt

PJSC — Public Joint Stock Company

The following is a summary of the inputs used as of July 31, 2022, in valuing the Fund’s investments carried at value ($ Thousands):

Investments in Securities	Level 1		Level 2		Level 3		Total
Foreign Common Stock
Brazil	$	758	$	–	$	–	$	758
Chile		119		–		–		119
China		47		416		–		463
Czech Republic		28		–		–		28
Egypt		–		75		–		75
Greece		–		47		–		47
Hong Kong		–		4,137		–		4,137
Hungary		–		21		–		21
India		–		1,871		–		1,871
Indonesia		–		365		–		365
Malaysia		–		261		–		261
Mexico		361		–		–		361
Philippines		–		112		–		112
Poland		–		220		–		220
Russia		–		–		–		–
Singapore		–		55		–		55
South Africa		126		409		–		535
South Korea		–		1,950		–		1,950
Taiwan		–		2,463		–		2,463
Thailand		–		382		–		382
Turkey		–		168		–		168
United Arab Emirates		–		50		–		50
United Kingdom		–		–		–		–
Total Foreign Common Stock		1,439		13,002		–		14,441
Foreign Preferred Stock
Brazil		246		–		–		246
Colombia		12		–		–		12
Total Foreign Preferred Stock		258		–		–		258
Total Warrants		–		1		–		1
Total Repurchase Agreement		–		177		–		177
Total Investments in Securities	$	1,697	$	13,180	$	–	$	14,877

Amounts designated as “—“are $0 or have been rounded to $0.

For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels, and other significant accounting policies, please refer to the Fund’s most recent semiannual or annual financial statements.

LSV-QH-008-0800

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