NPORT-EX 2 AIC_LSV_Value_Equity.htm SCHEDULE F HTML

Schedule of Investments

January 31, 2023 (Unaudited)

 

                                       

LSV Value Equity Fund

  
        Shares     Value (000)  

Common Stock (99.4%)

    

Aerospace & Defense (1.6%)

    

Curtiss-Wright

     30,400     $ 5,040  

Huntington Ingalls Industries

     20,300       4,477  

Lockheed Martin

     17,800       8,246  

Textron

     88,400       6,440  
   

 

 

  
      24,203  
   

 

 

  

Agricultural Products (0.5%)

    

Ingredion

     69,800       7,175  
   

 

 

  

Air Freight & Logistics (0.9%)

    

FedEx

     69,900       13,551  
   

 

 

  

Aircraft (0.7%)

    

Delta Air Lines*

     133,800       5,232  

United Airlines Holdings*

     106,500       5,214  
   

 

 

  
      10,446  
   

 

 

  

Apparel Retail (0.6%)

    

Foot Locker

     204,400       8,893  
   

 

 

  

Apparel, Accessories & Luxury Goods (0.4%)

 

Carter’s

     79,100       6,595  
   

 

 

  

Asset Management & Custody Banks (3.0%)

 

Ameriprise Financial

     37,900       13,269  

Bank of New York Mellon

     338,400       17,113  

State Street

     170,700       15,590  
   

 

 

  
      45,972  
   

 

 

  

Automotive (2.8%)

    

American Axle & Manufacturing Holdings*

     755,300       6,699  

BorgWarner

     154,200       7,291  

Ford Motor

     825,900       11,158  

General Motors

     323,600       12,724  

Goodyear Tire & Rubber*

     486,300       5,471  
   

 

 

  
      43,343  
   

 

 

  

Automotive Retail (0.5%)

    

Group 1 Automotive

     36,000       7,699  
   

 

 

  

Banks (5.3%)

    

Bank of America

     155,000       5,499  

BankUnited

     74,000       2,785  

Citizens Financial Group

     237,600       10,293  

Fifth Third Bancorp

     153,100       5,556  

Huntington Bancshares

     367,400       5,574  

KeyCorp

     313,200       6,010  

Popular

     68,600       4,709  

Regions Financial

     651,100       15,327  

Wells Fargo

     427,500       20,037  

Zions Bancorp

     104,000       5,529  
   

 

 

  
      81,319  
   

 

 

  
                                       

LSV Value Equity Fund

  
        Shares       Value (000)  

Biotechnology (3.6%)

    

Amgen

     72,000     $ 18,173  

Biogen*

     18,400       5,353  

Gilead Sciences

     320,300       26,886  

United Therapeutics*

     19,100       5,026  
   

 

 

  
      55,438  
   

 

 

  

Broadcasting (0.4%)

    

Fox

     164,500       5,583  
   

 

 

  

Building & Construction (1.8%)

    

Owens Corning

     101,000       9,762  

PulteGroup

     174,600       9,933  

TRI Pointe Homes*

     326,100       7,203  
   

 

 

  
      26,898  
   

 

 

  

Chemicals (2.7%)

    

Chemours

     157,900       5,746  

Dow

     91,000       5,401  

Eastman Chemical

     91,700       8,085  

Huntsman

     302,300       9,580  

Ingevity*

     87,600       7,222  

LyondellBasell Industries, Cl A

     57,100       5,521  
   

 

 

  
      41,555  
   

 

 

  

Commercial Printing (0.2%)

    

Deluxe

     165,400       3,306  
   

 

 

  

Commercial Services (0.3%)

    

Western Union

     366,100       5,188  
   

 

 

  

Commodity Chemicals (0.2%)

    

Trinseo

     109,300       3,033  
   

 

 

  

Computer & Electronics Retail (0.8%)

 

  

Best Buy

     99,400       8,819  

Rent-A-Center, Cl A

     120,400       3,237  
   

 

 

  
      12,056  
   

 

 

  

Computers & Services (3.5%)

    

Amdocs

     91,400       8,403  

DXC Technology*

     207,400       5,959  

eBay

     116,200       5,752  

Hewlett Packard Enterprise

     625,500       10,089  

HP

     464,000       13,521  

Oracle

     62,300       5,511  

Xerox Holdings

     290,800       4,763  
   

 

 

  
      53,998  
   

 

 

  

Construction & Engineering (0.5%)

 

  

EMCOR Group

     53,200       7,887  
   

 

 

  

Consumer Finance (0.3%)

    

OneMain Holdings, Cl A

     90,700       3,913  
   

 

 

  
 

 

1

Schedule of Investments

January 31, 2023 (Unaudited)

 

                                       

LSV Value Equity Fund

  
        Shares       Value (000)  

Drug Retail (0.5%)

    

Walgreens Boots Alliance

     217,700     $ 8,024  
   

 

 

  

Electric Utilities (0.7%)

    

NRG Energy

     293,800       10,054  
   

 

 

  

Electrical Components & Equipment (0.3%)

 

Energizer Holdings

     124,000       4,600  
   

 

 

  

Electrical Services (0.5%)

    

Vistra

     304,600       7,024  
   

 

 

  

Financial Services (4.8%)

    

Ally Financial

     282,100       9,166  

Capital One Financial

     64,600       7,687  

Citigroup

     436,100       22,773  

Discover Financial Services

     57,800       6,747  

Goldman Sachs Group

     31,500       11,523  

Lazard, Cl A

     166,800       6,685  

Navient

     486,000       9,220  
   

 

 

  
      73,801  
   

 

 

  

Food, Beverage & Tobacco (2.6%)

 

  

Altria Group

     107,200       4,828  

Conagra Brands

     194,600       7,237  

JM Smucker

     38,800       5,929  

Molson Coors Beverage, Cl B

     321,300       16,894  

Tyson Foods, Cl A

     81,100       5,332  
   

 

 

  
      40,220  
   

 

 

  

Forest Products (0.4%)

    

Louisiana-Pacific

     83,200       5,665  
   

 

 

  

Gas/Natural Gas (0.3%)

    

UGI

     132,400       5,273  
   

 

 

  

General Merchandise Stores (0.1%)

 

  

Big Lots

     118,415       1,937  
   

 

 

  

Health Care Distributors (1.5%)

 

  

Cardinal Health

     106,100       8,196  

McKesson

     41,000       15,526  
   

 

 

  
      23,722  
   

 

 

  

Health Care Facilities (1.2%)

    

HCA Healthcare

     32,200       8,213  

Select Medical Holdings

     183,700       5,340  

Universal Health Services, Cl B

     37,700       5,588  
   

 

 

  
      19,141  
   

 

 

  

Health Care Services (2.4%)

    

Cigna

     51,300       16,245  

CVS Health

     171,600       15,139  
                                       

LSV Value Equity Fund

  
        Shares       Value (000)  

Health Care Services (continued)

 

  

DaVita*

     64,800     $ 5,339  
   

 

 

  
      36,723  
   

 

 

  

Hotel & Resort REITs (0.2%)

    

Service Properties Trust

     262,429       2,338  
   

 

 

  

Household Products, Furniture & Fixtures (0.8%)

 

Whirlpool

     74,400       11,576  
   

 

 

  

Human Resource & Employment Services (0.5%)

 

ManpowerGroup

     92,400       8,054  
   

 

 

  

Industrial Machinery (1.3%)

    

Hillenbrand

     118,300       5,544  

Mueller Industries

     102,200       6,699  

Snap-on

     30,400       7,561  
   

 

 

  
      19,804  
   

 

 

  

Insurance (5.2%)

    

Aflac

     142,500       10,474  

American Financial Group

     37,500       5,347  

American International Group

     191,300       12,094  

CNO Financial Group

     278,100       7,164  

Hartford Financial Services Group

     160,800       12,480  

Lincoln National

     141,000       4,995  

MetLife

     133,800       9,770  

MGIC Investment

     484,200       6,837  

Principal Financial Group

     54,100       5,007  

Voya Financial

     82,800       5,777  
   

 

 

  
      79,945  
   

 

 

  

Interactive Media & Services (0.6%)

 

  

Meta Platforms, Cl A*

     59,800       8,908  
   

 

 

  

Investment Banking & Brokerage (0.9%)

 

  

Jefferies Financial Group

     223,000       8,759  

Morgan Stanley

     54,700       5,324  
   

 

 

  
      14,083  
   

 

 

  

IT Consulting & Other Services (0.4%)

 

  

International Business Machines

     49,600       6,683  
   

 

 

  

Leasing & Renting (0.7%)

    

Triton International

     161,900       11,437  
   

 

 

  

Machinery (2.7%)

    

AGCO

     91,100       12,584  

Allison Transmission Holdings

     278,100       12,537  

Cummins

     64,100       15,995  
   

 

 

  
      41,116  
   

 

 

  
 

 

2

Schedule of Investments

January 31, 2023 (Unaudited)

 

                                       

LSV Value Equity Fund

  
        Shares       Value (000)  

Media & Entertainment (1.4%)

    

Comcast, Cl A

     490,000     $ 19,282  

TEGNA

     112,950       2,251  
   

 

 

  
      21,533  
   

 

 

  

Metal & Glass Containers (1.3%)

 

  

Berry Global Group

     152,200       9,395  

O-I Glass, Cl I*

     276,700       5,327  

Silgan Holdings

     89,500       4,823  
   

 

 

  
      19,545  
   

 

 

  

Mortgage REITs (0.3%)

    

Annaly Capital Management

     211,125       4,955  
   

 

 

  

Motorcycle Manufacturers (0.7%)

 

  

Harley-Davidson

     229,000       10,541  
   

 

 

  

Movies & Entertainment (0.3%)

    

Warner Bros Discovery*

     281,407       4,170  
   

 

 

  

Office REITs (0.7%)

    

Highwoods Properties

     149,300       4,534  

Office Properties Income Trust

     132,500       2,274  

Piedmont Office Realty Trust, Cl A

     376,265       3,988  
   

 

 

  
      10,796  
   

 

 

  

Oil & Gas Exploration & Production (0.9%)

 

  

APA

     314,700       13,951  

Vitesse Energy*

     26,245       419  
   

 

 

  
      14,370  
   

 

 

  

Oil & Gas Refining & Marketing (0.7%)

 

  

HF Sinclair

     182,300       10,373  
   

 

 

  

Packaged Foods & Meats (0.6%)

 

  

Kraft Heinz

     214,700       8,702  
   

 

 

  

Paper Packaging (0.9%)

    

International Paper

     140,600       5,880  

Westrock

     217,800       8,546  
   

 

 

  
      14,426  
   

 

 

  

Petroleum & Fuel Products (5.7%)

 

  

ExxonMobil

     362,300       42,030  

Marathon Oil

     556,100       15,276  

Marathon Petroleum

     97,100       12,479  

Phillips 66

     98,540       9,881  

Valero Energy

     57,500       8,052  
   

 

 

  
      87,718  
   

 

 

  

Pharmaceuticals (7.9%)

    

AbbVie

     34,600       5,112  

Bristol-Myers Squibb

     375,200       27,258  

Jazz Pharmaceuticals*

     64,400       10,089  
                                       

LSV Value Equity Fund

  
        Shares       Value (000)  

Pharmaceuticals (continued)

    

Merck

     355,100     $ 38,141  

Organon

     134,600       4,056  

Pfizer

     662,100       29,239  

Viatris, Cl W*

     517,700       6,295  
   

 

 

  
      120,190  
   

 

 

  

Property & Casualty Insurance (0.5%)

 

  

First American Financial

     118,800       7,350  
   

 

 

  

Real Estate (0.2%)

    

Host Hotels & Resorts

     159,300       3,003  
   

 

 

  

Reinsurance (0.3%)

    

Everest Re Group

     15,000       5,245  
   

 

 

  

Retail (2.2%)

    

Dick’s Sporting Goods

     42,800       5,596  

Kohl’s

     147,600       4,778  

Kroger

     374,200       16,701  

Macy’s

     266,500       6,297  
   

 

 

  
      33,372  
   

 

 

  

Retail REITs (0.4%)

    

Simon Property Group

     48,300       6,205  
   

 

 

  

Semiconductors (0.4%)

    

Qorvo*

     52,100       5,661  
   

 

 

  

Semi-Conductors/Instruments (4.0%)

 

  

Amkor Technology

     387,000       11,323  

Applied Materials

     45,100       5,028  

Diodes*

     71,600       6,386  

Intel

     846,400       23,919  

QUALCOMM

     53,800       7,167  

Vishay Intertechnology

     334,500       7,657  
   

 

 

  
      61,480  
   

 

 

  

Specialized Consumer Services (0.7%)

 

H&R Block

     258,100       10,061  
   

 

 

  

Specialty Stores (0.5%)

    

Office Depot*

     149,300       7,704  
   

 

 

  

Steel & Steel Works (1.9%)

    

Reliance Steel & Aluminum

     63,900       14,534  

Steel Dynamics

     116,800       14,091  
   

 

 

  
      28,625  
   

 

 

  

Systems Software (0.3%)

    

VMware, Cl A*

     34,300       4,201  
   

 

 

  

Technology Distributors (0.8%)

    

Arrow Electronics*

     102,200       12,007  
   

 

 

  
 

 

3

Schedule of Investments

January 31, 2023 (Unaudited)

 

                                       

LSV Value Equity Fund

  
        Shares       Value (000)  

Technology Hardware, Storage & Peripherals (0.9%)

 

Dell Technologies, Cl C

     186,200     $ 7,563  

Seagate Technology Holdings

     88,500       5,999  
   

 

 

  
      13,562  
   

 

 

  

Telephones & Telecommunications (4.1%)

 

  

AT&T

     1,297,800       26,436  

Cisco Systems

     386,200       18,797  

Verizon Communications

     415,400       17,268  
   

 

 

  
      62,501  
   

 

 

  

Thrifts & Mortgage Finance (0.4%)

 

  

Radian Group

     302,800       6,692  
   

 

 

  

Trucking (1.2%)

    

Ryder System

     106,200       10,026  

Werner Enterprises

     172,900       8,121  
   

 

 

  
      18,147  
   

 

 

  

TOTAL COMMON STOCK
(Cost $1,338,526)

       1,521,314  
   

 

 

  
   
 Face Amount
(000)		  
 		  

Repurchase Agreement (0.4%)

 

  

South Street Securities 3.990%, dated 01/31/2023, to be repurchased on 02/01/2023, repurchase price $6,334 (collateralized by various U.S. Treasury obligations, ranging in par value $0 - $4,444, 0.000% - 4.125%, 04/30/2023 - 05/15/2041; total market value $6,460)

   $ 6,333       6,333  
   

 

 

  

TOTAL REPURCHASE AGREEMENT
(Cost $6,333)

 

     6,333  
   

 

 

  

Total Investments – 99.8%
(Cost $1,344,859)

 

   $ 1,527,647  
   

 

 

  

 

Percentages are based on Net Assets of $1,530,525 (000).

 

*

Non-income producing security.

Cl — Class

REIT — Real Estate Investment Trust

LSV-QH-001-3900

    

 

 

4