SGI SMALL CAP GROWTH FUND
|
|||||||||
PORTFOLIO OF INVESTMENTS
|
|||||||||
NOVEMBER 30, 2021 (UNAUDITED)
|
|||||||||
NUMBER
|
|||||||||
OF SHARES
|
VALUE
|
||||||||
COMMON STOCKS - 98.5%
|
|||||||||
Aerospace/Defense — 0.3%
|
|||||||||
Astronics Corp.*
|
25,500
|
$
|
266,730
|
||||||
Auto Parts & Equipment — 5.1%
|
|||||||||
American Axle & Manufacturing Holdings., Inc.*
|
75,500
|
668,930
|
|||||||
Commercial Vehicle Group, Inc.*
|
25,500
|
213,945
|
|||||||
Dorman Products, Inc.*
|
4,100
|
455,018
|
|||||||
Gentherm, Inc.*
|
12,100
|
1,021,845
|
|||||||
Goodyear Tire & Rubber Co., (The)*
|
23,400
|
470,574
|
|||||||
Motorcar Parts of America, Inc.*
|
7,600
|
121,904
|
|||||||
Shyft Group Inc., (The)
|
8,600
|
418,046
|
|||||||
Standard Motor Products, Inc.
|
9,100
|
455,364
|
|||||||
Titan International, Inc.*
|
24,900
|
171,561
|
|||||||
XPEL, Inc.*
|
10,200
|
733,278
|
|||||||
4,730,465
|
|||||||||
Banks — 3.9%
|
|||||||||
Arrow Financial Corp.
|
4,400
|
151,800
|
|||||||
CrossFirst Bankshares, Inc.*
|
14,500
|
202,855
|
|||||||
Farmers National Banc Corp.
|
9,200
|
161,828
|
|||||||
First Citizens BancShares Inc., Class A
|
500
|
401,990
|
|||||||
First Financial Corp.
|
5,700
|
247,722
|
|||||||
Guaranty Bancshares Inc.
|
3,500
|
128,625
|
|||||||
Metropolitan Bank Holding Corp.*
|
5,100
|
484,143
|
|||||||
Mid Penn Bancorp, Inc.
|
3,800
|
119,548
|
|||||||
Nicolet Bankshares, Inc.*
|
4,300
|
306,633
|
|||||||
Origin Bancorp, Inc.
|
8,800
|
371,272
|
|||||||
Provident Bancorp, Inc.
|
4,800
|
86,928
|
|||||||
QCR Holdings, Inc.
|
7,600
|
409,944
|
|||||||
RBB Bancorp
|
6,400
|
156,544
|
|||||||
Red River Bancshares, Inc.
|
2,500
|
132,000
|
|||||||
SmartFinancial, Inc.
|
5,600
|
143,752
|
|||||||
South Plains Financial, Inc.
|
3,900
|
97,500
|
|||||||
3,603,084
|
|||||||||
Beverages — 1.5%
|
|||||||||
Coca Cola Bottling Co.
|
1,400
|
798,798
|
|||||||
National Beverage Corp.
|
12,000
|
623,280
|
|||||||
1,422,078
|
|||||||||
Biotechnology — 2.5%
|
|||||||||
Innoviva, Inc.*
|
57,000
|
953,040
|
|||||||
Organogenesis Holdings, Inc.*
|
93,500
|
940,610
|
|||||||
Vericel Corp.*
|
11,800
|
439,078
|
|||||||
2,332,728
|
|||||||||
Building Materials — 1.1%
|
|||||||||
Boise Cascade Co.
|
15,380
|
997,085
|
|||||||
Chemicals — 0.4%
|
|||||||||
American Vanguard Corp.
|
18,800
|
269,028
|
|||||||
Unifi, Inc.*
|
5,700
|
116,109
|
|||||||
385,137
|
|||||||||
Commercial Services — 8.7%
|
|||||||||
American Public Education Inc.*
|
13,000
|
245,570
|
|||||||
AMN Healthcare Services, Inc.*
|
9,000
|
1,026,090
|
|||||||
CorVel Corp.*
|
3,900
|
733,200
|
|||||||
Franklin Covey Co.*
|
9,200
|
404,616
|
|||||||
FTI Consulting, Inc.*
|
4,400
|
642,796
|
|||||||
Heidrick & Struggles International Inc.
|
20,800
|
897,936
|
|||||||
Kforce, Inc.
|
6,000
|
459,780
|
|||||||
Legalzoom.com, Inc.*
|
23,100
|
416,031
|
|||||||
Medifast, Inc.
|
1,900
|
390,906
|
|||||||
National Research Corp.
|
4,100
|
164,205
|
|||||||
Paya Holdings, Inc.*
|
63,600
|
409,584
|
|||||||
Perdoceo Education Corp.*
|
63,000
|
620,550
|
|||||||
PROG Holdings, Inc.*
|
21,381
|
964,711
|
|||||||
ShotSpotter, Inc.*
|
7,200
|
252,864
|
|||||||
Vectrus, Inc.*
|
10,600
|
443,504
|
|||||||
8,072,343
|
|||||||||
Computers — 0.8%
|
|||||||||
Corsair Gaming, Inc.*
|
3,300
|
73,920
|
|||||||
Quantum Corp.*
|
35,120
|
192,106
|
|||||||
Rimini Street, Inc.*
|
66,300
|
438,243
|
|||||||
704,269
|
|||||||||
Distribution/Wholesale — 1.4%
|
|||||||||
Leslies, Inc.*
|
44,400
|
930,624
|
|||||||
Titan Machinery, Inc.*
|
12,300
|
408,852
|
|||||||
1,339,476
|
|||||||||
Diversified Financial Services — 7.3%
|
|||||||||
Amerant Bancorp, Inc.*
|
11,200
|
315,280
|
|||||||
Atlanticus Holdings Corp.*
|
3,000
|
178,290
|
|||||||
Columbia Financial, Inc.*
|
24,100
|
439,584
|
|||||||
Cowen Group, Inc., Class A
|
26,200
|
926,956
|
|||||||
Enova International, Inc.*
|
15,800
|
602,296
|
|||||||
Houlihan Lokey, Inc.
|
8,500
|
922,590
|
|||||||
International Money Express, Inc.*
|
31,600
|
477,476
|
|||||||
PJT Partners, Inc., Class A
|
12,198
|
928,024
|
|||||||
PRA Group, Inc.*
|
22,600
|
959,596
|
|||||||
SLM Corp.
|
26,951
|
479,189
|
|||||||
World Accep Corp.*
|
2,800
|
575,176
|
|||||||
6,804,457
|
|||||||||
Electrical Components & Equipment — 0.2%
|
|||||||||
Orion Energy Systems, Inc.*
|
38,600
|
145,522
|
|||||||
Electronics — 1.8%
|
|||||||||
Allied Motion Technologies, Inc.
|
4,700
|
185,415
|
|||||||
OSI Systems, Inc.*
|
6,400
|
581,952
|
|||||||
TTM Technologies, Inc.*
|
52,900
|
728,962
|
|||||||
Universal Electronics, Inc.*
|
4,000
|
144,800
|
|||||||
1,641,129
|
|||||||||
Engineering & Construction — 1.2%
|
|||||||||
Frontdoor, Inc.*
|
9,300
|
321,408
|
|||||||
IES Holdings, Inc.*
|
5,700
|
273,543
|
|||||||
MYR Group, Inc.*
|
4,700
|
520,337
|
|||||||
1,115,288
|
|||||||||
Environmental Control — 0.2%
|
|||||||||
Heritage-Crystal Clean, Inc.*
|
5,700
|
182,913
|
|||||||
Food — 3.6%
|
|||||||||
Flowers Foods, Inc.
|
9,900
|
255,618
|
|||||||
Ingles Markets, Inc., Class A
|
3,700
|
284,086
|
|||||||
Sprouts Farmers Market, Inc.*
|
43,000
|
1,137,780
|
|||||||
Tootsie Roll Industries, Inc.
|
10,600
|
333,370
|
|||||||
TreeHouse Foods, Inc.*
|
9,700
|
355,990
|
|||||||
Utz Brands, Inc.
|
31,100
|
438,821
|
|||||||
Weis Markets, Inc.
|
9,100
|
572,845
|
|||||||
3,378,510
|
|||||||||
Gas — 0.4%
|
|||||||||
Chesapeake Utilities Corp.
|
2,900
|
369,344
|
|||||||
Healthcare-Products — 2.6%
|
|||||||||
Apria, Inc.*
|
19,300
|
542,909
|
|||||||
Hanger, Inc.*
|
27,600
|
465,612
|
|||||||
Inari Medical, Inc.*
|
10,800
|
891,432
|
|||||||
Natus Medical Inc.*
|
11,575
|
261,595
|
|||||||
Retractable Technologies, Inc.*
|
10,000
|
86,600
|
|||||||
Surmodics, Inc.*
|
3,700
|
162,541
|
|||||||
2,410,689
|
|||||||||
Healthcare-Services — 3.8%
|
|||||||||
Agiliti, Inc.*
|
22,000
|
463,320
|
|||||||
Agilon Health, Inc.*
|
40,200
|
884,400
|
|||||||
Aveanna Healthcare Holdings, Inc.*
|
110,200
|
709,688
|
|||||||
Encompass Health Corp.
|
16,200
|
933,444
|
|||||||
Joint Corp, (The)*
|
4,800
|
383,616
|
|||||||
LHC Group, Inc.*
|
1,100
|
126,192
|
|||||||
3,500,660
|
|||||||||
Home Builders — 2.1%
|
|||||||||
Forestar Group, Inc.*
|
9,300
|
184,326
|
|||||||
Thor Industries, Inc.
|
8,000
|
845,680
|
|||||||
Winnebago Industries, Inc.
|
12,900
|
931,638
|
|||||||
1,961,644
|
|||||||||
Home Furnishings — 1.5%
|
|||||||||
Lovesac Co., (The)*
|
8,500
|
537,880
|
|||||||
Sleep Number Corp.*
|
4,600
|
366,988
|
|||||||
Sonos, Inc.*
|
14,700
|
465,255
|
|||||||
1,370,123
|
|||||||||
Household Products/Wares — 0.5%
|
|||||||||
WD-40 Co.
|
1,900
|
426,265
|
|||||||
Housewares — 0.5%
|
|||||||||
Scotts Miracle-Gro Co., (The)
|
2,989
|
433,076
|
|||||||
Insurance — 2.1%
|
|||||||||
Donegal Group, Inc., Class A
|
11,000
|
149,600
|
|||||||
Mercury General Corp.
|
18,100
|
923,462
|
|||||||
Nmi Holdings, Inc., Class A*
|
20,100
|
393,960
|
|||||||
Safety Insurance Group, Inc.
|
5,700
|
440,439
|
|||||||
1,907,461
|
|||||||||
Internet — 1.4%
|
|||||||||
HealthStream, Inc.*
|
14,400
|
334,368
|
|||||||
QuinStreet, Inc.*
|
59,947
|
917,788
|
|||||||
1,252,156
|
|||||||||
Iron/Steel — 0.5%
|
|||||||||
Allegheny Technologies, Inc.*
|
30,500
|
434,320
|
|||||||
Leisure Time — 0.9%
|
|||||||||
Johnson Outdoors, Inc., Class A
|
1,400
|
145,656
|
|||||||
OneWater Marine, Inc., Class A
|
13,200
|
675,576
|
|||||||
821,232
|
|||||||||
Machinery-Diversified — 1.3%
|
|||||||||
DXP Enterprises Inc.*
|
5,800
|
160,254
|
|||||||
GrafTech International Ltd.
|
27,500
|
320,375
|
|||||||
Hydrofarm Holdings Group, Inc.*
|
23,300
|
768,900
|
|||||||
1,249,529
|
|||||||||
Media — 0.7%
|
|||||||||
Liberty Latin America Ltd., Class C*
|
23,300
|
261,892
|
|||||||
Scripps E W Co., Class A
|
19,800
|
366,894
|
|||||||
628,786
|
|||||||||
Metal Fabricate/Hardware — 1.5%
|
|||||||||
Lawson Products Inc.*
|
2,400
|
115,512
|
|||||||
Mueller Industries, Inc.
|
18,300
|
1,012,539
|
|||||||
Olympic Steel, Inc.
|
13,900
|
282,865
|
|||||||
1,410,916
|
|||||||||
Miscellaneous Manufacturing — 0.7%
|
|||||||||
Chase Corp.
|
2,200
|
216,898
|
|||||||
Myers Industries, Inc.
|
10,300
|
200,644
|
|||||||
Sight Sciences, Inc.*
|
9,100
|
190,645
|
|||||||
608,187
|
|||||||||
Oil & Gas — 2.2%
|
|||||||||
CNX Resources Corp.*
|
12,100
|
165,044
|
|||||||
Earthstone Energy, Inc., Class A*
|
53,300
|
544,726
|
|||||||
EQT Corp.*
|
49,800
|
967,614
|
|||||||
Talos Energy, Inc.*
|
35,800
|
356,926
|
|||||||
2,034,310
|
|||||||||
Oil & Gas Services — 0.7%
|
|||||||||
National Energy Services Reunited Corp.*
|
42,300
|
419,193
|
|||||||
RPC, Inc.*
|
46,500
|
187,395
|
|||||||
606,588
|
|||||||||
Packaging & Containers — 0.2%
|
|||||||||
UFP Technologies, Inc.*
|
2,900
|
193,923
|
|||||||
Pharmaceuticals — 5.7%
|
|||||||||
Amphastar Pharmaceuticals, Inc.*
|
20,000
|
391,200
|
|||||||
Collegium Pharmaceutical, Inc.*
|
40,200
|
706,716
|
|||||||
Corcept Therapeutics, Inc.*
|
43,900
|
921,900
|
|||||||
Eagle Pharmaceuticals, Inc.*
|
10,019
|
477,706
|
|||||||
Herbalife, Ltd.*
|
11,200
|
418,432
|
|||||||
Ironwood Pharmaceuticals Inc., Class A*
|
40,942
|
454,047
|
|||||||
Pacira BioSciences, Inc.*
|
17,800
|
936,636
|
|||||||
USANA Health Sciences, Inc.*
|
9,651
|
962,398
|
|||||||
5,269,035
|
|||||||||
REITS — 4.3%
|
|||||||||
Broadstone Net Lease, Inc.
|
29,300
|
732,500
|
|||||||
Easterly Government Properties, Inc.
|
48,000
|
1,006,560
|
|||||||
Life Storage, Inc.
|
5,800
|
766,412
|
|||||||
Netstreit Corp.
|
42,000
|
896,280
|
|||||||
Rexford Industrial Realty, Inc.
|
8,500
|
595,680
|
|||||||
3,997,432
|
|||||||||
Retail — 6.6%
|
|||||||||
Asbury Automotive Group, Inc.*
|
5,200
|
850,928
|
|||||||
AutoNation, Inc.*
|
8,200
|
1,015,570
|
|||||||
BJ's Restaurants, Inc.*
|
15,600
|
465,816
|
|||||||
BlueLinx Holdings, Inc.*
|
2,700
|
190,458
|
|||||||
Citi Trends, Inc.*
|
3,400
|
288,320
|
|||||||
Duluth Holdings, Inc., Class B*
|
17,200
|
238,564
|
|||||||
El Pollo Loco Holdings, Inc.*
|
24,000
|
302,880
|
|||||||
Fiesta Restaurant Group, Inc.*
|
15,700
|
146,481
|
|||||||
Haverty Furniture Cos., Inc.
|
28,100
|
840,471
|
|||||||
Hibbett, Inc.
|
10,600
|
826,270
|
|||||||
Lumber Liquidators Holdings, Inc.*
|
43,612
|
669,008
|
|||||||
Murphy USA, Inc.
|
1,500
|
259,995
|
|||||||
6,094,761
|
|||||||||
Savings & Loans — 0.7%
|
|||||||||
HomeTrust Bancshares, Inc.
|
8,900
|
267,267
|
|||||||
Southern Missouri Bancorp, Inc.
|
2,700
|
144,207
|
|||||||
Waterstone Financial, Inc.
|
10,800
|
224,100
|
|||||||
635,574
|
|||||||||
Semiconductors — 0.3%
|
|||||||||
EMCORE Corp.*
|
40,700
|
299,959
|
|||||||
Software — 9.9%
|
|||||||||
Allscripts Healthcare Solutions, Inc.*
|
39,700
|
660,211
|
|||||||
Bandwidth, Inc., Class A*
|
7,600
|
544,616
|
|||||||
Castlight Health, Inc., Class B*
|
92,400
|
141,372
|
|||||||
Computer Programs & Systems, Inc.*
|
8,300
|
244,601
|
|||||||
Duck Creek Technologies, Inc.*
|
33,200
|
949,188
|
|||||||
EverCommerce, Inc.*
|
41,400
|
673,992
|
|||||||
Evolent Health, Inc., Class A*
|
36,800
|
956,800
|
|||||||
Health Catalyst, Inc.*
|
9,500
|
412,205
|
|||||||
Immersion Corp.*
|
21,100
|
126,811
|
|||||||
Intapp, Inc.*
|
28,300
|
775,137
|
|||||||
Intelligent Systems Corp.*
|
8,400
|
340,704
|
|||||||
Jamf Holding Corp.*
|
7,700
|
248,171
|
|||||||
Kaltura, Inc.*
|
128,500
|
609,090
|
|||||||
Model N, Inc.*
|
18,700
|
525,470
|
|||||||
Tabula Rasa HealthCare, Inc.*
|
7,200
|
81,864
|
|||||||
Verint Systems, Inc.*
|
21,000
|
999,390
|
|||||||
Verra Mobility Corp.*
|
63,800
|
918,082
|
|||||||
9,207,704
|
|||||||||
Telecommunications — 1.5%
|
|||||||||
ATN International, Inc.
|
3,300
|
126,093
|
|||||||
DZS, Inc.*
|
30,500
|
395,280
|
|||||||
Infinera Corp.*
|
116,100
|
943,893
|
|||||||
1,465,266
|
|||||||||
Textiles — 0.9%
|
|||||||||
UniFirst Corp.
|
4,400
|
843,260
|
|||||||
Transportation — 4.1%
|
|||||||||
Air Transport Services Group, Inc.*
|
17,200
|
424,668
|
|||||||
Covenant Logistics Group, Inc.*
|
10,700
|
268,249
|
|||||||
Daseke, Inc.*
|
68,600
|
661,990
|
|||||||
Heartland Express, Inc.
|
42,800
|
716,472
|
|||||||
Marten Transport, Ltd.
|
23,700
|
381,096
|
|||||||
Radiant Logistics, Inc.*
|
30,200
|
227,708
|
|||||||
Universal Logistics Holdings, Inc.
|
9,600
|
178,464
|
|||||||
Werner Enterprises, Inc.
|
21,700
|
978,887
|
|||||||
3,837,534
|
|||||||||
Water — 0.9%
|
|||||||||
American States Water Co.
|
4,700
|
442,646
|
|||||||
Artesian Resources Corp., Class A
|
4,500
|
192,420
|
|||||||
York Water Co., (The)
|
4,500
|
210,870
|
|||||||
845,936
|
|||||||||
TOTAL COMMON STOCKS
|
|||||||||
(Cost $96,405,135)
|
91,236,884
|
||||||||
EXCHANGE-TRADED FUNDS - 0.4%
|
|||||||||
Exchange-Traded Funds — 0.4%
|
|||||||||
iShares Russell 2000 ETF
|
1,800
|
392,706
|
|||||||
TOTAL EXCHANGE-TRADED FUNDS
|
|||||||||
(Cost $428,726)
|
392,706
|
||||||||
SHORT-TERM INVESTMENTS - 1.2%
|
|||||||||
U.S. Bank Money Market Deposit Account, 0.01% (a)
|
1,140,483
|
1,140,483
|
|||||||
TOTAL SHORT-TERM INVESTMENTS
|
|||||||||
(Cost $1,140,483)
|
1,140,483
|
||||||||
TOTAL INVESTMENTS - 100.1%
|
|||||||||
(Cost $97,974,344)
|
92,770,073
|
||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%
|
(138,449
|
)
|
|||||||
NET ASSETS - 100.0%
|
$
|
92,631,624
|
*
|
Non-income producing security
|
||||||||
(a)
|
The rate shown is as of November 30, 2021.
|
||||||||
ETF
|
Exchange-Traded Funds
|
||||||||
REIT
|
Real Estate Investment Trust
|
||||||||
The accompanying notes are an integral part of the portfolio of investments.
|
SUMMIT GLOBAL INVESTMENTS, LLC
|
||||||||
PORTFOLIO OF INVESTMENTS
|
||||||||
NOVEMBER 30, 2021 (UNAUDITED)
|
||||||||
PORTFOLIO VALUATION – Investments in the underlying fund are valued at the SGI Small Cap Growth Fund ("Fund") net asset value (“NAV”) is calculated once daily at the close of
regular trading hours on the New York Stock Exchange (“NYSE”) (generally 4:00 p.m. Eastern time) on each day the NYSE is open. Securities held by the Fund are valued using the closing price or the last sale price on a national securities
exchange or the National Association of Securities Dealers Automatic Quotation System (“NASDAQ”) market system where they are primarily traded. Equity securities traded in the over-the-counter ("OTC") market are valued at their closing
prices. If there were no transactions on that day, securities traded principally on an exchange or on NASDAQ will be valued at the mean of the last bid and ask prices prior to the market close. Fixed income securities are valued using an
independent pricing service, which considers such factors as security prices, yields, maturities and ratings, and are deemed representative of market values at the close of the market. Investments in Exchange-Traded Funds ("ETFs") are valued
at their last reported sale price. Investments in other open-end investment companies, if any, are valued based on the NAV of those investment companies (which may use fair value pricing as disclosed in their prospectuses). If market
quotations are unavailable or deemed unreliable, securities will be valued in accordance with procedures adopted by the RBB Fund, Inc.’s Board of Directors (the “Board”). Relying on prices supplied by pricing services or dealers or using fair
valuation may result in values that are higher or lower than the values used by other investment companies and investors to price the same investments.
|
FAIR VALUE MEASUREMENTS – The inputs and valuation techniques used to measure the fair value of the Fund's investments are summarized into three levels as described in the
hierarchy below:
|
||||||||
|
||||||||
• Level 1 — Prices are determined using quoted prices in active markets for identical securities.
|
||||||||
• Level 2 — Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
|
||||||||
• Level 3 — Prices are determined using significant unobservable inputs (including the Funds' own assumptions in determining the fair value of investments).
|
||||||||
The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
|
||||||||
The following is a summary of the inputs used, as of November 30, 2021, in valuing each Fund's investments carried at fair value:
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
|||||||||||||
SGI Small Cap Growth Fund
|
||||||||||||||||
Common Stocks
|
$
|
91,236,884
|
$
|
91,236,884
|
$
|
-
|
$
|
-
|
||||||||
Exchange-Traded Funds
|
392,706
|
392,706
|
||||||||||||||
Short-Term Investments
|
1,140,483
|
1,140,483
|
-
|
-
|
||||||||||||
Total Investments*
|
$
|
92,770,073
|
$
|
92,770,073
|
$
|
-
|
$
|
-
|
||||||||
* Please refer to Portfolio of Investments for further details.
|
At the end of each quarter, management evaluates the classification of Levels 1, 2 and 3 assets and liabilities. Various factors are considered, such as changes in liquidity from the prior reporting period; whether
or not a broker is willing to execute at the quoted price; the depth and consistency of prices from third party pricing services; and the existence of contemporaneous, observable trades in the market. Additionally, management evaluates the
classification of Levels 1, 2 and 3 assets and liabilities on a quarterly basis for changes in listings or delistings on national exchanges.
|
||||||||
Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Fund’s investments may fluctuate from period to period.
Additionally, the fair value of investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values the Fund may ultimately realize. Further,
such investments may be subject to legal and other restrictions on resale or otherwise less liquid than publicly traded securities.
|
||||||||
|
||||||||
For fair valuations using significant unobservable inputs, U.S. generally accepted accounting principles (“U.S. GAAP”) requires the Fund to present a reconciliation of the beginning to ending balances for reported
market values that presents changes attributable to total realized and unrealized gains or losses, purchase and sales, and transfers in and out of Level 3 during the period. Transfers in and out between levels are based on values at the end
of the period. A reconciliation of Level 3 investments is presented only if a Fund had an amount of Level 3 investments at the end of the reporting period that was meaningful in relation to its net assets. The amounts and reasons for all
Level 3 transfers are disclosed if the Fund had an amount of total Level 3 transfers during the reporting period that was meaningful in relation to its net assets as of the end of the reporting period.
|
||||||||
During the current fiscal period, the Fund had no Level 3 transfers.
|
||||||||
For more information with regard to significant accounting policies, see the most recent semi-annual or annual report filed with the Securities and Exchange Commission.
|