NPORT-EX 2 3B14BW033125.htm
Omni Small-Cap Value Fund
Schedule of Investments
(Unaudited)
1
Showing percentage of net assets as of March 31, 2025
bridgewayfunds.com
Industry
Company
Shares
Value
.
Common Stocks - 99.63%
Communication Services - 5.87%
Advantage Solutions,
Inc.*
1,124,643
$
1,698,211
AMC Networks, Inc.,
Class A*
173,500
1,193,680
Angi, Inc.*
65,000
1,001,650
ATN International, Inc.
50,600
1,027,686
comScore, Inc.*
15,000
103,050
Creative Realities, Inc.*
10,000
19,500
Cumulus Media, Inc.,
Class A*
43,300
19,139
DHI Group, Inc.*
56,800
78,952
EchoStar Corp.,
Class A*+
3,430
87,739
Entravision
Communications
Corp., Class A
260,800
547,680
Gaia, Inc.*
77,000
296,450
Gannett Co., Inc.*
797,700
2,305,353
Gray Media, Inc.
261,100
1,127,952
Harte Hanks, Inc.*
7,700
36,960
Liberty Latin America,
Ltd., Class A*
180,000
1,139,400
Liberty Latin America,
Ltd., Class C*
776,500
4,822,065
Marcus Corp. (The)
168,000
2,803,920
Outbrain, Inc.*
279,466
1,042,408
Playstudios, Inc.*
75,000
95,250
Saga Communications,
Inc., Class A
27,000
336,690
Scholastic Corp.
91,750
1,732,240
Sinclair, Inc.
284,746
4,536,004
Sphere Entertainment
Co.*+
170,000
5,562,400
Taboola.com, Ltd.*
850,000
2,507,500
TEGNA, Inc.
450,000
8,199,000
Telephone and Data
Systems, Inc.
338,300
13,105,742
Townsquare Media, Inc.,
Class A
69,900
568,986
United States Cellular
Corp.*+
2,982
206,205
WideOpenWest, Inc.*
259,100
1,282,545
Ziff Davis, Inc.*+
90,000
3,382,200
60,866,557
Consumer Discretionary - 10.65%
1-800-Flowers.com, Inc.,
Class A*+
241,400
1,424,260
Abercrombie & Fitch
Co., Class A*
23,600
1,802,332
Adient PLC*
235,000
3,022,100
Industry
Company
Shares
Value
Consumer Discretionary (continued)
Advance Auto Parts,
Inc.+
175,000
$
6,861,750
aka Brands Holding
Corp.*
1,000
13,480
A-Mark Precious Metals,
Inc.
10,000
253,700
AMCON Distributing
Co.
2,450
287,397
American Axle &
Manufacturing
Holdings, Inc.*
313,996
1,277,964
American Outdoor
Brands, Inc.*
49,500
601,920
American Public
Education, Inc.*
61,100
1,363,752
AMMO, Inc.*+
281,200
388,056
Ark Restaurants Corp.
8,500
85,850
Arko Corp.+
200,000
790,000
Bassett Furniture
Industries, Inc.
21,900
333,975
Beazer Homes USA,
Inc.*
2,300
46,897
Big 5 Sporting Goods
Corp.
113,700
109,937
Biglari Holdings, Inc.,
Class B*+
6,200
1,342,548
Caleres, Inc.+
91,200
1,571,376
Century Communities,
Inc.
75,800
5,086,180
Chegg, Inc.*
9,800
6,264
China Automotive
Systems, Inc.
136,350
602,667
Citi Trends, Inc.*
13,900
307,677
Crown Crafts, Inc.
75,850
276,094
Dana, Inc.
481,600
6,419,728
Designer Brands, Inc.,
Class A+
119,500
436,175
Destination XL Group,
Inc.*
144,544
211,034
Duluth Holdings, Inc.,
Class B*
98,300
171,042
El Pollo Loco Holdings,
Inc.*
158,300
1,630,490
Escalade, Inc.
23,200
354,960
Ethan Allen Interiors, Inc.
3,500
96,950
Flanigan's Enterprises,
Inc.
14,000
345,940
Flexsteel Industries, Inc.
20,159
736,005
Foot Locker, Inc.*
330,000
4,653,000
Fossil Group, Inc.*
38,500
44,275
Genesco, Inc.*
42,700
906,521
GigaCloud Technology,
Inc., Class A*+
178,700
2,537,540
Omni Small-Cap Value Fund
Schedule of Investments
(Unaudited)
(continued)
2
Showing percentage of net assets as of March 31, 2025
Quarterly Report | March 31, 2025 (Unaudited)
Industry
Company
Shares
Value
Common Stocks (continued)
Consumer Discretionary (continued)
G-III Apparel Group,
Ltd.*
187,500
$
5,128,125
Good Times
Restaurants, Inc.*
106,000
260,760
Guess?, Inc.+
114,834
1,271,212
Hamilton Beach Brands
Holding Co., Class A
44,900
872,407
Haverty Furniture Cos.,
Inc.
74,400
1,467,168
Holley, Inc.*+
311,300
800,041
Hooker Furnishings
Corp.
51,000
512,040
Hovnanian Enterprises,
Inc., Class A*
27,389
2,867,902
JAKKS Pacific, Inc.
62,300
1,536,941
Johnson Outdoors, Inc.,
Class A
1,959
48,662
Kohl's Corp.+
330,000
2,699,400
Lands' End, Inc.*
25,100
255,518
Landsea Homes Corp.*
137,229
881,010
Latham Group, Inc.*
402,300
2,586,789
Legacy Housing Corp.*
3,331
84,008
Lifetime Brands, Inc.
106,466
524,877
Live Ventures, Inc.*
15,550
118,646
Lovesac Co. (The)*+
31,000
563,580
Lulu's Fashion Lounge
Holdings, Inc.*
25,000
10,000
M/I Homes, Inc.*
3,700
422,466
MarineMax, Inc.*
6,400
137,600
MasterCraft Boat
Holdings, Inc.*+
51,600
888,552
Monro, Inc.
69,500
1,005,665
Motorcar Parts of
America, Inc.*
94,121
894,150
Movado Group, Inc.
45,000
752,400
ODP Corp. (The)*
72,500
1,038,925
OneWater Marine, Inc.,
Class A*+
4,900
79,282
Patrick Industries, Inc.+
147
12,430
Perdoceo Education
Corp.
2,500
62,950
Petco Health & Wellness
Co., Inc.*+
1,073,000
3,272,650
Phinia, Inc.
199,000
8,443,570
Rocky Brands, Inc.
27,200
472,464
Sally Beauty Holdings,
Inc.*
327,448
2,956,855
Shoe Carnival, Inc.
104,500
2,297,955
Signet Jewelers, Ltd.
106,500
6,183,390
Smith & Wesson Brands,
Inc.+
9,400
87,608
Industry
Company
Shares
Value
Consumer Discretionary (continued)
Solo Brands, Inc.,
Class A*
165,000
$
27,687
Sportsman's Warehouse
Holdings, Inc.*
3,300
3,281
Standard Motor
Products, Inc.
81,600
2,034,288
Strattec Security Corp.*
12,012
473,994
Superior Group of Cos.,
Inc.
47,200
516,368
Target Hospitality
Corp.*+
25,000
164,500
Tilly's, Inc., Class A*
1,600
3,520
Topgolf Callaway Brands
Corp.*+
500,000
3,295,000
Traeger, Inc.*
497,300
835,464
Unifi, Inc.*
4,273
20,553
Universal Electronics,
Inc.*
20,560
125,827
Vera Bradley, Inc.*
69,600
156,600
Vince Holding Corp.*
41,263
79,225
Weyco Group, Inc.
40,000
1,219,200
Winnebago Industries,
Inc.
106,481
3,669,335
110,522,676
Consumer Staples - 5.62%
Andersons, Inc. (The)
160,438
6,887,603
B&G Foods, Inc.+
283,300
1,946,271
Central Garden & Pet
Co.*+
28,000
1,026,480
Central Garden & Pet
Co., Class A*
195,700
6,405,261
Coffee Holding Co., Inc.*
1,000
3,550
Dole PLC
477,500
6,899,875
Edgewell Personal Care
Co.
141,100
4,403,731
Fresh Del Monte
Produce, Inc.
191,477
5,903,236
Hain Celestial Group,
Inc. (The)*+
236,000
979,400
HF Foods Group, Inc.*+
13,826
67,747
Ingles Markets, Inc.,
Class A
48,400
3,152,292
Natural Alternatives
International, Inc.*
18,100
62,264
Natural Grocers by
Vitamin Cottage, Inc.
50,600
2,034,120
Nature's Sunshine
Products, Inc.*
6,593
82,742
Olaplex Holdings, Inc.*
1,229,000
1,560,830
Seneca Foods Corp.,
Class A*
20,900
1,860,936
Omni Small-Cap Value Fund
Schedule of Investments
(Unaudited)
(continued)
3
Showing percentage of net assets as of March 31, 2025
bridgewayfunds.com
Industry
Company
Shares
Value
Common Stocks (continued)
Consumer Staples (continued)
SpartanNash Co.
110,946
$
2,247,766
TreeHouse Foods, Inc.*
100,000
2,709,000
United Natural Foods,
Inc.*
241,900
6,625,641
USANA Health
Sciences, Inc.*
25,000
674,250
Village Super Market,
Inc., Class A
65,750
2,499,158
Weis Markets, Inc.
2,924
225,294
58,257,447
Energy - 13.32%
Amplify Energy Corp.*
174,600
653,004
Archrock, Inc.
8,816
231,332
Ardmore Shipping Corp.
216,400
2,118,556
Barnwell Industries, Inc.*
15,500
25,110
Berry Corp.
238,400
765,264
Bristow Group, Inc.*
64,333
2,031,636
Clean Energy Fuels
Corp.*
600,000
930,000
Crescent Energy Co.,
Class A
715,655
8,043,962
Delek US Holdings, Inc.
267,000
4,023,690
DHT Holdings, Inc.+
569,500
5,979,750
Diversified Energy Co.
PLC
202,542
2,738,368
DMC Global, Inc.*
75,000
631,500
Dorian LPG, Ltd.
211,300
4,720,442
Drilling Tools
International Corp.*
25,000
59,250
Epsilon Energy, Ltd.
90,000
635,400
Forum Energy
Technologies, Inc.*
28,900
581,179
FutureFuel Corp.
195,300
761,670
Geospace Technologies
Corp.*+
62,016
447,135
Gran Tierra Energy, Inc.*
150,000
739,500
Gulf Island Fabrication,
Inc.*
50,000
323,000
Gulfport Energy Corp.*
44,600
8,212,644
Hallador Energy Co.*
255,000
3,131,400
Helix Energy Solutions
Group, Inc.*
485,406
4,033,724
Innovex International,
Inc.*
14,800
265,808
International Seaways,
Inc.+
180,000
5,976,000
Kolibri Global Energy,
Inc.*
10,000
83,900
Mammoth Energy
Services, Inc.*
121,500
247,860
Industry
Company
Shares
Value
Energy (continued)
NACCO Industries, Inc.,
Class A
21,945
$
740,205
Natural Gas Services
Group, Inc.*
114,752
2,521,101
NCS Multistage
Holdings, Inc.*
10,000
349,900
Nordic American
Tankers, Ltd.+
625,000
1,537,500
NPK International, Inc.*
250,000
1,452,500
Oil States International,
Inc.*
245,700
1,265,355
Par Pacific Holdings,
Inc.*
164,800
2,350,048
Peabody Energy Corp.
380,000
5,149,000
PHX Minerals, Inc.
129,800
512,710
PrimeEnergy Resources
Corp.*
1,241
282,812
ProFrac Holding Corp.,
Class A*+
572,500
4,345,275
ProPetro Holding Corp.*
480,000
3,528,000
Ranger Energy Services,
Inc., Class A
113,850
1,615,532
REX American
Resources Corp.*
90,900
3,415,113
Ring Energy, Inc.*+
633,393
728,402
RPC, Inc.
737,000
4,053,500
SandRidge Energy, Inc.
100,550
1,148,281
Scorpio Tankers, Inc.
30,000
1,127,400
SEACOR Marine
Holdings, Inc.*
16,390
82,933
Seadrill, Ltd.*
177,053
4,426,325
Select Water Solutions,
Inc.
431,300
4,528,650
SFL Corp., Ltd.
695,000
5,699,000
Smart Sand, Inc.
220,500
571,095
Solaris Energy
Infrastructure, Inc.+
68,593
1,492,584
Summit Midstream
Corp.*
28,000
948,920
Talos Energy, Inc.*
458,400
4,455,648
Teekay Corp., Ltd.
590,000
3,876,300
Teekay Tankers, Ltd.,
Class A
167,000
6,391,090
US Energy Corp.*+
27,000
32,400
VAALCO Energy, Inc.+
472,200
1,775,472
Vital Energy, Inc.*
100,000
2,122,000
World Kinect Corp.+
255,600
7,248,816
138,164,951
Financials - 34.80%
1st Source Corp.
69,800
4,174,738
Acacia Research Corp.*
45,000
144,000
Omni Small-Cap Value Fund
Schedule of Investments
(Unaudited)
(continued)
4
Showing percentage of net assets as of March 31, 2025
Quarterly Report | March 31, 2025 (Unaudited)
Industry
Company
Shares
Value
Common Stocks (continued)
Financials (continued)
ACNB Corp.
51,400
$
2,115,624
Alerus Financial Corp.
9,750
179,985
Amalgamated Financial
Corp.
94,930
2,729,238
Ambac Financial Group,
Inc.*
110,000
962,500
AmeriServ Financial, Inc.
77,900
189,297
Ames National Corp.
6,008
105,260
Associated Capital
Group, Inc., Class A+
1,000
38,320
Atlanticus Holdings
Corp.*
1,610
82,352
Auburn National
BanCorp, Inc.
12,000
259,080
Banco Latinoamericano
de Comercio Exterior
SA, Class E
108,400
3,967,440
Bank of Marin Bancorp
15,047
332,087
Bank of NT Butterfield &
Son, Ltd. (The)
35,000
1,362,200
Bank of the James
Financial Group, Inc.
13,000
192,140
Bank7 Corp.
19,957
773,134
BankFinancial Corp.
44,100
557,424
BankUnited, Inc.
195,964
6,749,000
Bankwell Financial
Group, Inc.
15,000
452,700
Banner Corp.
83,127
5,301,009
Bar Harbor Bankshares
50,966
1,503,497
BayCom Corp.
38,313
964,338
BCB Bancorp, Inc.
42,000
414,120
Berkshire Hills Bancorp,
Inc.
115,000
3,000,350
Blue Ridge Bankshares,
Inc.*
21,237
69,233
Bread Financial
Holdings, Inc.
111,500
5,583,920
Bridgewater
Bancshares, Inc.*
57,500
798,675
Brookline Bancorp, Inc.
200,000
2,180,000
Burke & Herbert
Financial Services
Corp.
173
9,707
Business First
Bancshares, Inc.
85,800
2,089,230
Byline Bancorp, Inc.
149,800
3,918,768
C&F Financial Corp.
13,600
916,504
California BanCorp*
47,700
683,541
Camden National Corp.
39,100
1,582,377
Capital Bancorp, Inc.
73,950
2,095,004
Capital City Bank
Group, Inc.
37,172
1,336,705
Industry
Company
Shares
Value
Financials (continued)
Carter Bankshares, Inc.*
60,485
$
978,647
CB Financial Services,
Inc.
20,400
580,380
Central Pacific Financial
Corp.
67,000
1,811,680
CF Bankshares, Inc.
19,000
418,760
Chemung Financial
Corp.
19,500
927,615
ChoiceOne Financial
Services, Inc.
28,500
819,945
Citizens & Northern
Corp.
15,500
311,860
Citizens Community
Bancorp, Inc.
52,500
754,950
Citizens Financial
Services, Inc.
2,448
142,106
Citizens, Inc.*+
169,500
771,225
Civista Bancshares, Inc.
32,523
635,499
CNB Financial Corp.
64,300
1,430,675
Coastal Financial Corp.*
6,500
587,665
Colony Bankcorp, Inc.
56,010
904,562
Community Trust
Bancorp, Inc.
60,000
3,021,600
Community West
Bancshares
14,930
275,906
ConnectOne Bancorp,
Inc.
104,446
2,539,082
Consumer Portfolio
Services, Inc.*
146,650
1,271,456
Dime Community
Bancshares, Inc.
79,112
2,205,643
Donegal Group, Inc.,
Class A
46,175
906,415
Eagle Bancorp Montana,
Inc.
21,000
351,960
Eagle Bancorp, Inc.
70,070
1,471,470
Encore Capital Group,
Inc.*+
67,500
2,313,900
Enova International, Inc.*
67,407
6,508,820
Enterprise Bancorp, Inc.
34,375
1,338,219
Enterprise Financial
Services Corp.
110,400
5,932,896
Equity Bancshares, Inc.,
Class A
80,000
3,152,000
ESSA Bancorp, Inc.
44,700
842,595
Evans Bancorp, Inc.
8,000
311,760
EZCORP, Inc., Class A*
341,706
5,029,912
Farmers & Merchants
Bancorp, Inc.
4,530
108,312
Farmers National Banc
Corp.
10,968
143,132
FB Financial Corp.
18,192
843,381
Omni Small-Cap Value Fund
Schedule of Investments
(Unaudited)
(continued)
5
Showing percentage of net assets as of March 31, 2025
bridgewayfunds.com
Industry
Company
Shares
Value
Common Stocks (continued)
Financials (continued)
Federal Agricultural
Mortgage Corp.,
Class C
26,600
$
4,987,766
Fidelis Insurance
Holdings, Ltd.
342,000
5,540,400
Financial Institutions, Inc.
70,000
1,747,200
Finwise Bancorp*
30,700
537,557
First Bancorp, Inc. (The)
1,000
24,720
First Bancshares, Inc.
(The)
79,400
2,684,514
First Bank
85,230
1,262,256
First Busey Corp.
283,536
6,124,378
First Business Financial
Services, Inc.
45,400
2,140,610
First Capital, Inc.
15,035
573,585
First Community Corp.
2,000
45,120
First Financial Bancorp
258,318
6,452,784
First Financial Corp.
39,362
1,927,951
First Guaranty
Bancshares, Inc.
22,972
176,884
First Internet Bancorp
20,000
535,600
First Merchants Corp.
175,600
7,101,264
First Mid Bancshares,
Inc.
51,500
1,797,350
First National Corp.+
30,800
691,460
First Northwest Bancorp
11,787
119,756
First of Long Island
Corp. (The)
38,200
471,770
First Savings Financial
Group, Inc.
20,700
533,232
First United Corp.
29,176
875,864
First US Bancshares,
Inc.
6,468
86,413
First Western Financial,
Inc.*
12,500
245,625
Firstsun Capital
Bancorp*
10,000
361,500
Flushing Financial Corp.
68,497
869,912
Franklin Financial
Services Corp.+
30,700
1,088,315
FS Bancorp, Inc.
39,000
1,482,390
FVCBankcorp, Inc.*
42,499
449,214
Great Elm Group, Inc.*
4,500
8,505
Great Southern
Bancorp, Inc.
3,000
166,110
Green Dot Corp.,
Class A*
131,000
1,105,640
Greenlight Capital Re,
Ltd., Class A*
25,000
338,750
Guaranty Bancshares,
Inc.
3,000
120,090
Industry
Company
Shares
Value
Financials (continued)
Guild Holdings Co.,
Class A
176,781
$
2,704,749
Hamilton Insurance
Group, Ltd., Class B*
251,500
5,213,595
Hanmi Financial Corp.
68,558
1,553,524
Hanover Bancorp, Inc.
13,924
305,353
HarborOne Bancorp,
Inc.
90,100
934,337
Hawthorn Bancshares,
Inc.
28,404
801,845
Hennessy Advisors, Inc.
7,000
69,720
Heritage Commerce
Corp.
132,464
1,261,057
Heritage Financial Corp.
122,500
2,980,425
Heritage Insurance
Holdings, Inc.*
97,100
1,400,182
Hilltop Holdings, Inc.
138,700
4,223,415
Home Bancorp, Inc.
30,494
1,366,131
HomeTrust Bancshares,
Inc.
52,500
1,799,700
Hope Bancorp, Inc.
313,300
3,280,251
Horace Mann Educators
Corp.
142,000
6,067,660
Horizon Bancorp, Inc.
112,667
1,699,018
Independent Bank Corp.
69,421
3,730,473
Investar Holding Corp.
43,000
757,230
Investors Title Co.
494
119,094
James River Group
Holdings, Ltd.
2,000
8,400
Kearny Financial Corp.
86,462
541,252
Landmark Bancorp, Inc.
18,592
506,446
LCNB Corp.
43,600
644,844
LendingTree, Inc.*
5,000
251,350
Live Oak Bancshares,
Inc.
25,000
666,500
loanDepot, Inc., Class A*
567,310
675,099
Magyar Bancorp, Inc.
1,000
13,900
MainStreet Bancshares,
Inc.
22,980
384,226
Medallion Financial
Corp.
46,659
406,400
Mercantile Bank Corp.
47,300
2,054,712
Mercury General Corp.
8,700
486,330
Meridian Corp.
43,800
630,720
Metrocity Bankshares,
Inc.
9,291
256,153
Metropolitan Bank
Holding Corp.*
23,300
1,304,567
Mid Penn Bancorp, Inc.
26,603
689,284
Middlefield Banc Corp.
30,000
838,500
Midland States Bancorp,
Inc.
43,200
739,584
Omni Small-Cap Value Fund
Schedule of Investments
(Unaudited)
(continued)
6
Showing percentage of net assets as of March 31, 2025
Quarterly Report | March 31, 2025 (Unaudited)
Industry
Company
Shares
Value
Common Stocks (continued)
Financials (continued)
MidWestOne Financial
Group, Inc.
49,260
$
1,458,589
MVB Financial Corp.
32,600
564,632
National Bank Holdings
Corp., Class A
30,000
1,148,100
Navient Corp.
450,000
5,683,500
NI Holdings, Inc.*
50,000
713,000
Northeast Community
Bancorp, Inc.
53,139
1,245,578
Northfield Bancorp, Inc.
101,800
1,110,638
Northrim BanCorp, Inc.
6,502
476,076
Northwest Bancshares,
Inc.
337,700
4,059,154
Oak Valley Bancorp
30,835
769,642
OceanFirst Financial
Corp.
125,323
2,131,744
OFG Bancorp
40,000
1,600,800
Ohio Valley Banc Corp.
15,700
408,985
Old Point Financial
Corp.+
159
4,760
Old Second Bancorp,
Inc.
132,603
2,206,514
Onity Group, Inc.*
42,501
1,373,632
OP Bancorp
91,900
1,104,638
Oportun Financial Corp.*
50,000
274,500
Oppenheimer Holdings,
Inc., Class A
39,493
2,354,968
OptimumBank Holdings,
Inc.*
15,000
61,650
Origin Bancorp, Inc.
63,222
2,191,907
Orrstown Financial
Services, Inc.
81,143
2,435,101
Parke Bancorp, Inc.
47,099
887,345
Pathfinder Bancorp, Inc.
10,200
167,688
Pathward Financial, Inc.
5,181
377,954
Patriot National
Bancorp, Inc.*
10,182
11,811
Paysafe, Ltd.*+
218,900
3,434,541
PCB Bancorp
58,600
1,096,406
Peapack-Gladstone
Financial Corp.
43,894
1,246,590
Penns Woods Bancorp,
Inc.
23,229
648,321
Peoples Bancorp of
North Carolina, Inc.
25,617
697,807
Peoples Bancorp, Inc.
126,770
3,759,998
Peoples Financial
Services Corp.
22,900
1,018,363
Pioneer Bancorp, Inc.*
82,600
967,246
Plumas Bancorp
2,000
86,540
Preferred Bank
3,333
278,839
Primis Financial Corp.
6,600
64,482
Industry
Company
Shares
Value
Financials (continued)
Princeton Bancorp, Inc.
34,480
$
1,053,364
PROG Holdings, Inc.
4,500
119,700
Provident Financial
Holdings, Inc.
26,600
388,094
Provident Financial
Services, Inc.
132,631
2,277,274
QCR Holdings, Inc.
53,000
3,779,960
RBB Bancorp
65,883
1,087,070
Red River Bancshares,
Inc.
1,907
98,497
Regional Management
Corp.
56,100
1,689,171
Renasant Corp.+
178,280
6,049,040
Repay Holdings Corp.*
245,000
1,364,650
Republic Bancorp, Inc.,
Class A
49,362
3,150,283
Rhinebeck Bancorp, Inc.*
15,000
147,600
Richmond Mutual
BanCorp, Inc.
25,000
320,000
Riverview Bancorp, Inc.
119,500
675,175
S&T Bancorp, Inc.
149,601
5,542,717
Sandy Spring Bancorp,
Inc.
5,000
139,750
SB Financial Group, Inc.
35,490
738,902
Security National
Financial Corp.,
Class A*
75,306
911,203
Shore Bancshares, Inc.
70,510
954,705
Sierra Bancorp
53,000
1,477,640
Simmons First National
Corp., Class A
307,800
6,319,134
SiriusPoint, Ltd.*
572,100
9,891,609
SmartFinancial, Inc.
56,500
1,756,020
South Plains Financial,
Inc.
94,700
3,136,464
Southern First
Bancshares, Inc.*
19,038
626,731
Southern Missouri
Bancorp, Inc.
11,000
572,220
Southern States
Bancshares, Inc.
35,000
1,251,250
Southside Bancshares,
Inc.
29,500
854,320
SouthState Corp.
14,640
1,358,885
Stellar Bancorp, Inc.
104,200
2,882,172
Stewart Information
Services Corp.
1,314
93,754
Summit State Bank
21,000
193,830
SWK Holdings Corp.*+
30,405
528,743
Third Coast Bancshares,
Inc.*
58,000
1,935,460
Timberland Bancorp, Inc.
47,900
1,444,185
Omni Small-Cap Value Fund
Schedule of Investments
(Unaudited)
(continued)
7
Showing percentage of net assets as of March 31, 2025
bridgewayfunds.com
Industry
Company
Shares
Value
Common Stocks (continued)
Financials (continued)
Tiptree, Inc.
90,000
$
2,168,100
TriCo Bancshares
15,900
635,523
TrustCo Bank Corp. NY
46,680
1,422,806
Trustmark Corp.
7,500
258,675
UMB Financial Corp.
1,005
101,606
Union Bankshares, Inc.
139
4,374
United Bancorp, Inc.
8,400
112,728
United Fire Group, Inc.
77,000
2,268,420
United Security
Bancshares
50,000
448,000
Unity Bancorp, Inc.
43,867
1,785,387
Universal Insurance
Holdings, Inc.
91,617
2,171,323
Univest Financial Corp.
100,137
2,839,885
US Global Investors,
Inc., Class A
48,500
109,610
Velocity Financial, Inc.*
81,998
1,534,183
Veritex Holdings, Inc.
139,380
3,480,319
WaFd, Inc.
192,252
5,494,562
Washington Trust
Bancorp, Inc.
7,700
237,622
Waterstone Financial,
Inc.
44,500
598,525
WesBanco, Inc.
233,240
7,221,110
Western New England
Bancorp, Inc.
74,897
696,542
Westwood Holdings
Group, Inc.
26,452
428,522
World Acceptance
Corp.*
20,100
2,543,655
360,991,124
Health Care - 3.96%
AdaptHealth Corp.*
573,400
6,215,656
American Shared
Hospital Services*
8,500
23,630
Avanos Medical, Inc.*
119,417
1,711,246
Aytu BioPharma, Inc.*
1,500
1,800
CareCloud, Inc.*
54,200
75,338
Claritev Corp.*+
2
41
DocGo, Inc.*+
300,000
792,000
Enhabit, Inc.*
190,179
1,671,673
FONAR Corp.*
30,300
424,503
Fulgent Genetics, Inc.*+
2,708
45,765
Kiora Pharmaceuticals,
Inc.*
2,000
6,020
Opus Genetics, Inc.*
30,400
29,847
OraSure Technologies,
Inc.*
155,000
522,350
Owens & Minor, Inc.*
253,600
2,290,008
Industry
Company
Shares
Value
Health Care (continued)
Pacira BioSciences,
Inc.*+
129,300
$
3,213,105
Pediatrix Medical Group,
Inc.*
265,000
3,839,850
Premier, Inc., Class A+
312,400
6,023,072
Retractable
Technologies, Inc.*
9,430
6,634
SCYNEXIS, Inc.*
186,000
177,091
Select Medical Holdings
Corp.
458,000
7,648,600
Spero Therapeutics, Inc.*
50,000
36,000
Vanda Pharmaceuticals,
Inc.*
100
459
Varex Imaging Corp.*
124,200
1,440,720
Voyager Therapeutics,
Inc.*+
600
2,028
XBiotech, Inc.*
20,000
64,800
Zymeworks, Inc.*+
406,900
4,846,179
41,108,415
Industrials - 15.37%
ACCO Brands Corp.
381,300
1,597,647
Air Industries Group*
9
31
Allegiant Travel Co.
70,200
3,625,830
Alpha Pro Tech, Ltd.*
39,124
195,620
Ameresco, Inc., Class A*
146,472
1,769,382
American Woodmark
Corp.*
83,400
4,906,422
Avalon Holdings Corp.,
Class A*
16,900
47,996
AZZ, Inc.
1,600
133,776
BGSF, Inc.
45,100
165,968
BlueLinx Holdings, Inc.*
45,000
3,374,100
BrightView Holdings,
Inc.*
454,500
5,835,780
Broadwind, Inc.*
5,000
7,250
Caesarstone, Ltd.*+
108,177
262,870
CBAK Energy
Technology, Inc.*
360,000
286,956
Civeo Corp.
77,255
1,776,865
Columbus McKinnon
Corp.
75,000
1,269,750
Commercial Vehicle
Group, Inc.*
53,600
61,640
CompX International,
Inc.
1,000
20,720
Concrete Pumping
Holdings, Inc.
263,000
1,435,980
Conduent, Inc.*
527,785
1,425,019
Costamare, Inc.
570,400
5,612,736
Covenant Logistics
Group, Inc.
170,800
3,791,760
Omni Small-Cap Value Fund
Schedule of Investments
(Unaudited)
(continued)
8
Showing percentage of net assets as of March 31, 2025
Quarterly Report | March 31, 2025 (Unaudited)
Industry
Company
Shares
Value
Common Stocks (continued)
Industrials (continued)
Deluxe Corp.
187,000
$
2,956,470
DLH Holdings Corp.*
23,291
94,329
DNOW, Inc.*
410,000
7,002,800
Eastern Co. (The)
29,601
749,497
Ennis, Inc.
9,900
198,891
Enviri Corp.*
387,580
2,577,407
Genco Shipping &
Trading, Ltd.
180,900
2,416,824
Gencor Industries, Inc.*
4,219
51,303
Golden Ocean Group,
Ltd.+
573,400
4,575,732
Great Lakes Dredge &
Dock Corp.*
25,000
217,500
Greenbrier Cos., Inc.
(The)+
137,000
7,017,140
Greenland Technologies
Holding Corp.*+
5,000
8,750
Heartland Express, Inc.
235,000
2,166,700
Heidrick & Struggles
International, Inc.
18,000
770,940
Himalaya Shipping, Ltd.
400
2,192
Hurco Cos., Inc.
2,060
31,951
Hyster-Yale, Inc.
20,000
830,800
JELD-WEN Holding,
Inc.*
276,200
1,648,914
JetBlue Airways Corp.*+
1,157,500
5,579,150
Kelly Services, Inc.,
Class A
114,383
1,506,424
Kennametal, Inc.
225,000
4,792,500
Limbach Holdings, Inc.*
3,000
223,410
Manitowoc Co., Inc.
(The)*
130,000
1,116,700
Mastech Digital, Inc.*
1,000
10,210
Masterbrand, Inc.*
570,000
7,444,200
Mayville Engineering
Co., Inc.*
97,810
1,313,588
MillerKnoll, Inc.
272,000
5,206,080
Mistras Group, Inc.*
137,050
1,449,989
MRC Global, Inc.*
309,000
3,547,320
NL Industries, Inc.
66,962
529,000
Northwest Pipe Co.*
50,000
2,065,000
Orion Group Holdings,
Inc.*
17,131
89,595
PAMT Corp.*
94,220
1,143,831
Pangaea Logistics
Solutions, Ltd.
296,300
1,410,388
Park-Ohio Holdings
Corp.
22,484
485,654
Perma-Pipe International
Holdings, Inc.*
14,000
174,020
Preformed Line Products
Co.
1,000
140,090
Industry
Company
Shares
Value
Industrials (continued)
Proto Labs, Inc.*
1,000
$
35,040
Quad/Graphics, Inc.
306,500
1,670,425
Quanex Building
Products Corp.+
126,700
2,355,353
Radiant Logistics, Inc.*
175,250
1,077,788
Resources Connection,
Inc.
100,500
657,270
Safe Bulkers, Inc.
542,100
2,000,349
Servotronics, Inc.*
1,500
15,900
SkyWest, Inc.*
100,696
8,797,810
Steelcase, Inc., Class A
495,000
5,425,200
Sun Country Airlines
Holdings, Inc.*
198,800
2,449,216
Titan International, Inc.*+
139,200
1,167,888
TrueBlue, Inc.*
7,150
37,967
Tutor Perini Corp.*
275,000
6,374,500
Twin Disc, Inc.
5,000
37,850
Ultralife Corp.*
2,500
13,450
Universal Logistics
Holdings, Inc.+
109,009
2,860,396
V2X, Inc.*
114,586
5,620,443
Virco Mfg. Corp.+
35,400
334,884
Wabash National Corp.
87,700
969,085
Werner Enterprises,
Inc.+
100,000
2,930,000
Willis Lease Finance
Corp.
34,393
5,433,062
159,413,263
Information Technology - 4.12%
Alpha & Omega
Semiconductor, Ltd.*+
7,144
177,600
Amtech Systems, Inc.*
49,200
237,636
AstroNova, Inc.*
1,274
11,708
Benchmark Electronics,
Inc.
153,185
5,825,625
Daktronics, Inc.*
211,100
2,571,198
Data Storage Corp.*+
2,266
8,226
E2open Parent
Holdings, Inc.*
769,600
1,539,200
Eastman Kodak Co.*+
298,000
1,883,360
Key Tronic Corp.*
35,100
90,558
Kimball Electronics, Inc.*
77,200
1,269,940
Methode Electronics,
Inc.
16,000
102,080
NCR Voyix Corp.*+
475,000
4,631,250
NETGEAR, Inc.*
132,900
3,250,734
NetSol Technologies,
Inc.*
2,500
6,050
Photronics, Inc.*
166,050
3,447,198
Omni Small-Cap Value Fund
Schedule of Investments
(Unaudited)
(continued)
9
Showing percentage of net assets as of March 31, 2025
bridgewayfunds.com
Industry
Company
Shares
Value
Common Stocks (continued)
Information Technology (continued)
Richardson Electronics,
Ltd.
13,000
$
145,080
ScanSource, Inc.*
104,301
3,547,277
SigmaTron International,
Inc.*
2,000
2,500
Synchronoss
Technologies, Inc.*
2,000
21,780
Taitron Components,
Inc., Class A
10,000
25,200
Trio-Tech International*
21,800
130,582
TTM Technologies, Inc.*
440,553
9,035,742
Upland Software, Inc.*
25,000
71,500
Viasat, Inc.*+
250,000
2,605,000
Vishay Precision Group,
Inc.*
5,000
120,450
WidePoint Corp.*
11,000
36,630
Xerox Holdings Corp.+
390,500
1,886,115
42,680,219
Materials - 4.84%
AdvanSix, Inc.
100,700
2,280,855
Alto Ingredients, Inc.*
184,500
210,330
Ampco-Pittsburgh Corp.*
25,000
54,250
Ascent Industries Co.*
39,525
500,387
Caledonia Mining Corp.
PLC
19,200
239,808
Clearwater Paper Corp.*
46,650
1,183,511
Constellium SE*
272,500
2,749,525
Core Molding
Technologies, Inc.*
37,900
576,080
Ecovyst, Inc.*+
275,000
1,705,000
Friedman Industries, Inc.
20,300
302,267
Intrepid Potash, Inc.*
46,856
1,377,098
Kaiser Aluminum Corp.
51,434
3,117,929
Koppers Holdings, Inc.
75,953
2,126,684
Kronos Worldwide, Inc.
800
5,984
LSB Industries, Inc.*
250,400
1,650,136
Magnera Corp.*
3,846
69,843
Mativ Holdings, Inc.
140,000
872,200
McEwen Mining, Inc.*+
170,000
1,283,500
Metallus, Inc.*+
178,200
2,380,752
Olympic Steel, Inc.
47,267
1,489,856
Radius Recycling, Inc.
10,000
288,800
Ramaco Resources, Inc.,
Class A+
1,400
11,522
Ramaco Resources, Inc.,
Class B
40
284
Ranpak Holdings Corp.*
326,000
1,766,920
Rayonier Advanced
Materials, Inc.*
296,091
1,702,523
Ryerson Holding Corp.
90,000
2,066,400
Industry
Company
Shares
Value
Materials (continued)
SunCoke Energy, Inc.
497,700
$
4,578,840
Tronox Holdings PLC
528,000
3,717,120
Valhi, Inc.+
93,527
1,519,814
Warrior Met Coal, Inc.
146,992
7,014,458
Worthington Steel, Inc.
134,000
3,394,220
50,236,896
Real Estate - 1.08%
AMREP Corp.*
52,000
1,042,600
Anywhere Real Estate,
Inc.*
305,000
1,015,650
Newmark Group, Inc.,
Class A
520,000
6,328,400
Opendoor Technologies,
Inc.*+
1,995,000
2,034,900
RE/MAX Holdings, Inc.,
Class A*
91,400
765,018
Transcontinental Realty
Investors, Inc.*+
1,400
39,130
11,225,698
TOTAL COMMON STOCKS - 99.63%
1,033,467,246
(Cost $933,091,729)
.
Preferred Stock - 0.00%
Air T Funding, 8.00%+
221
3,770
TOTAL PREFERRED STOCK - 0.00%
3,770
(Cost $4,597)
.
Rights - 0.01%
Pineapple Holdings,
Inc., CVR*
∆
#+++
5,000
1,350
Resolute Forest
Products, Inc., CVR,
expiring 12/31/49*
∆
#
335,500
97,295
TOTAL RIGHTS - 0.01%
98,645
(Cost $ — )
^
Rate^
B
Shares
B
Value
.
Money Market Fund - 0.16%
Fidelity Investments
Money Market
Government Portfolio
Class I
4.23%
1,685,454
1,685,454
TOTAL MONEY MARKET FUND - 0.16%
1,685,454
(Cost $1,685,454)
Omni Small-Cap Value Fund
Schedule of Investments
(Unaudited)
(continued)
10
Showing percentage of net assets as of March 31, 2025
Quarterly Report | March 31, 2025 (Unaudited)
^
Rate^
B
Shares
B
Value
.
Investments Purchased With Cash Proceeds
From Securities Lending - 1.84%
Dreyfus Institutional
Preferred Government
Money Market Fund**
4.29%
19,069,186
$
19,069,186
TOTAL INVESTMENTS PURCHASED WITH
CASH PROCEEDS FROM SECURITIES
LENDING - 1.84%
19,069,186
(Cost $19,069,186)
TOTAL INVESTMENTS
-
101.64%
$
1,054,324,301
(Cost $953,850,966)
Liabilities in Excess of Other Assets - (1.64%)
(16,975,351)
NET ASSETS - 100.00%
$
1,037,348,950
*
Non-income producing security.
**
This security represents the investment of the cash collateral
received in connection with securities out on loan as of
March 31, 2025.
^
Rate disclosed as of March 31, 2025.
∆
Security was fair valued using significant unobservable inputs.
As such, the security is classified as Level 3 in the fair value
hierarchy.
#
Illiquid security as determined under procedures approved by the Board
of Directors. The aggregate value of illiquid securities is $98,645, which
is 0.01% of total net assets.
+
This security or a portion of the security is out on loan as of
March 31, 2025. Total loaned securities had a value of
$89,179,078 as of March 31, 2025.
+++
No stated maturity date.
CVR
-
Contingent Value Right
PLC
-
Public Limited Company
Summary of inputs used to value the Fund’s investments as of 3/31/2025:
Valuation Inputs
Investment in Securities (Value)
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Total
Common Stocks (a)
$
1,033,467,246
$
–
$
–
$
1,033,467,246
Preferred Stock
3,770
–
–
3,770
Rights
–
–
98,645
98,645
Money Market Fund
1,685,454
–
–
1,685,454
Investments Purchased With Cash Proceeds From Securities
Lending
19,069,186
–
–
19,069,186
TOTAL
$1,054,225,656
$–
$98,645
$1,054,324,301
(a)
- Please refer to the Schedule of Investments for the industry classifications of these portfolio holdings.
Following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:
Investment in Securities (Value)
Rights
Balance as of 06/30/2024
$
98,645
Purchases/Issuances
–
Sales/Expirations
–
Return of Capital
–
Realized Gain/(Loss)
–
Change in unrealized Appreciation/(Depreciation)
–
Transfers in
–
Transfers out
–
Balance as of 03/31/2025
$
98,645
Net change in unrealized Appreciation/(Depreciation) from investments held as of 03/31/2025
$
–