半期報告書(内国投資信託受益証券)-第3期(令和2年9月11日-令和3年9月10日)

【提出】
2021/06/10 9:24
【資料】
PDFをみる
【項目】
18項目
(3)【中間注記表】
(重要な会計方針に係る事項に関する注記)

1.有価証券の評価基準及び評価方法投資信託受益証券
移動平均法に基づき、時価で評価しております。
時価評価にあたっては、投資信託受益証券の市場価格又は基準価額に基づいて評価しております。
親投資信託受益証券
移動平均法に基づき、時価で評価しております。
時価評価にあたっては、親投資信託受益証券の基準価額に基づいて評価しております。
2.収益及び費用の計上基準有価証券売買等損益の計上基準
約定日基準で計上しております。
3.その他財務諸表作成のための基本となる重要な事項金融商品の時価に関する補足情報
金融商品の時価には、市場価格に基づく価額のほか、市場価格がない場合には合理的に算定された価額が含まれております。当該価額の算定においては一定の前提条件等を採用しているため、異なる前提条件等によった場合、当該価額が異なることもあります。
剰余金又は欠損金
中間貸借対照表における剰余金又は欠損金について、「中間財務諸表等の用語、様式及び作成方法に関する規則」第3条の2に基づき、当中間計算期間末の中間剰余金又は中間欠損金の比較情報として、前計算期間末の剰余金又は欠損金を開示しております。

(中間貸借対照表に関する注記)

項目第2期
2020年 9月10日現在		第3期中間計算期間末
2021年 3月10日現在
1.計算期間末日における受益権の総数814,463,940口620,661,033口
2.元本の欠損200,892,664円-円
3.計算期間末日における1口当たり純資産額1口当たり純資産額0.7533円1口当たり純資産額1.1113円
(10,000口当たり純資産額)(7,533円)(10,000口当たり純資産額)(11,113円)

(中間損益及び剰余金計算書に関する注記)

該当事項はありません。
(金融商品に関する注記)
金融商品の時価等に関する事項

項目第2期
2020年 9月10日現在		第3期中間計算期間末
2021年 3月10日現在
1.貸借対照表計上額と時価との差額貸借対照表計上額は原則として時価で計上されているため、差額はありません。中間貸借対照表計上額は原則として時価で計上されているため、差額はありません。
2.時価の算定方法(1)有価証券(1)有価証券
重要な会計方針に係る事項に関する注記に記載しております。重要な会計方針に係る事項に関する注記に記載しております。
(2)デリバティブ取引(2)デリバティブ取引
該当事項はありません。該当事項はありません。
(3)上記以外の金銭債権及び金銭債務(3)上記以外の金銭債権及び金銭債務
短期間で決済されるため、時価は帳簿価額にほぼ等しいことから、当該帳簿価額を時価としております。短期間で決済されるため、時価は帳簿価額にほぼ等しいことから、当該帳簿価額を時価としております。

(デリバティブ取引等に関する注記)
取引の時価等に関する事項

該当事項はありません。



(その他の注記)
元本の移動

項目第2期
自 2019年 9月11日
至 2020年 9月10日		第3期中間計算期間
自 2020年 9月11日
至 2021年 3月10日
投資信託財産に係る元本の状況
期首元本額567,207,726円814,463,940円
期中追加設定元本額459,177,327円72,142,032円
期中一部解約元本額211,921,113円265,944,939円

(参考)
当ファンドは投資信託受益証券、親投資信託受益証券を投資対象としており、中間貸借対照表の資産の部に計上されている投資信託受益証券、親投資信託受益証券の状況は次の通りです。

投資信託受益証券については、当ファンドの作成期末において入手可能な直前計算期間の年次報告書の情報を基に掲載しています。
なお、以下に記載した情報は、監査の対象外です。

ディメンショナル・ファンズ・ピーエルシー グローバル・ターゲテッド・バリュー・ファンド
貸借対照表
2020年11月30日現在および2019年11月30日現在
グローバル・ターゲテッド・バリュー・ファンド
2020年11月30日
米ドル		2019年11月30日
米ドル
資産
損益を通じて公正価値で測定される金融資産3,089,3063,169,503
現金及び現金同等物7,41812,690
現金担保の受取金13,84218,989
売却株式の未収代金10,9374,385
売却証券の未収代金1892,010
未収配当及び未収還付税金5,8936,352
前払手数料1711
資産合計3,127,6023,213,940
負債
証券担保ローン契約に基づく未払代金(13,842)(18,989)
未払管理報酬(3,519)(3,807)
買戻し株式の未払代金(7,890)(4,785)
買戻し証券の未払代金(60)(399)
未払分配金(9,780)(16,212)
未払費用(644)(1,047)
負債合計
(買戻し可能株式の保有者に帰属する
純資産を除く)		(35,735)(45,239)
買戻し可能株式の保有者に帰属する純資産3,091,8673,168,701


包括利益計算書
2020年11月30日および2019年11月30日に終了する計算期間
グローバル・ターゲテッド・バリュー・ファンド
2020年11月30日
米ドル		2019年11月30日
米ドル
収益
受取利息1554
配当金60,02267,622
有価証券賃貸料収入2,5072,545
損益を通じて公正価値で測定される
金融資産の純(損失)/収益		(28,931)96,804
純収益33,613167,025
費用
管理報酬(13,939)(14,260)
管理事務及び預託報酬(880)(976)
監査及び法務報酬(137)(126)
その他の費用(169)(215)
権利放棄前の営業費用合計(15,125)(15,577)
費用合計(15,125)(15,577)
金融費用控除前の営業活動から生じた
純収益		18,488151,448
費用
支払利息(6)(4)
買戻可能株式の保有者への分配*(14,914)(18,604)
費用合計(14,920)(18,608)
税引前の営業活動から生じた
純収益		3,568132,840
配当に対する源泉税及びその他の課税(12,539)(11,703)
税引後の営業活動から生じた
純(損失)/収益		(8,971)121,137
買戻し可能株式の保有者に帰属する
純資産の(減少)/増加		(8,971)121,137

損益は継続事業のみから生じたものです。
包括利益計算書に記載されているもの以外の損益はありません。

グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式普通株式(続き)
オーストラリア 2.66%オーストラリア 2.66% (続き)
77 A2B Australia Ltd80-122 GrainCorp Ltd3920.01
154 Accent Group Ltd2450.01276 Grange Resources Ltd52-
233 Adelaide Brighton Ltd5270.02238 Greenland Minerals Ltd45-
109 Ainsworth Game Technology Ltd25-145 GWA Group Ltd3070.01
315 Alkane Resources Ltd2350.018 Hansen Technologies Ltd23-
20 Alliance Aviation Services Ltd50-271 Harvey Norman Holdings Ltd9130.03
1,242 AMP Ltd1,5580.05410 Healius Ltd1,1020.04
132 Ampol Ltd2,9700.1030 Helloworld Travel Ltd68-
67 Ansell Ltd1,8280.06111 HT&E Ltd126-
95 AP Eagers Ltd9080.03228 Humm Group Ltd2120.01
659 Arafura Resources Ltd47-13 Huon Aquaculture Group Ltd26-
352 Ardent Leisure Group Ltd2120.01291 IGO Ltd1,0010.03
533 Aurelia Metals Ltd1620.01221 Imdex Ltd2200.01
224 Austal Ltd4790.021,073 Incitec Pivot Ltd1,7960.06
197 Australian Agricultural Co Ltd1550.01178 Intega Group Ltd39-
264 Australian Pharmaceutical Industries Ltd2330.01470 IOOF Holdings Ltd1,2800.04
63 Australian Strategic Materials Ltd1770.0133 IVE Group Ltd31-
110 Australian Vintage Ltd49-137 Japara Healthcare Ltd75-
6 Auswide Bank Ltd25-395 Jupiter Mines Ltd81-
280 Bank of Queensland Ltd1,5840.05356 Karoon Energy Ltd2630.01
157 Bapcor Ltd8070.0346 Kingsgate Consolidated Ltd27-
193 Base Resources Ltd43-267 Link Administration Holdings Ltd9620.03
860 Beach Energy Ltd1,0980.04297 Lynas Corp Ltd8250.03
112 Bega Cheese Ltd (voting rights)4500.0299 MACA Ltd72-
45 Bell Financial Group Ltd48-626 Macmahon Holdings Ltd117-
293 Bendigo & Adelaide Bank Ltd1,9080.06994 Mayne Pharma Group Ltd2540.01
165 Bingo Industries Ltd3180.0163 McPherson's Ltd85-
314 BlueScope Steel Ltd3,9270.13153 Medusa Mining Ltd81-
715 Boral Ltd2,5700.08269 Mesoblast Ltd8170.03
49 Brickworks Ltd6890.02303 Metals X Ltd20-
87 BWX Ltd2580.01541 Metcash Ltd1,1690.04
7 Capral Ltd26-27 Michael Hill International Ltd10-
178 Cardno Ltd43-93 Mineral Resources Ltd2,1960.07
350 Cash Converters International Ltd57-1,611 MMA Offshore Ltd40-
42 Cedar Woods Properties Ltd2010.017 Monadelphous Group Ltd63-
329 Challenger Ltd1,3850.05212 Monash IVF Group Ltd114-
1,018 Cleanaway Waste Management Ltd1,7780.0658 Money3 Corp Ltd125-
103 Collection House Ltd31-34 Mortgage Choice Ltd30-
1,015 Cooper Energy Ltd2670.01360 Mount Gibson Iron Ltd1980.01
32 Corporate Travel Management Ltd4660.02537 Myer Holdings Ltd1430.01
173 Costa Group Holdings Ltd5090.0232 MyState Ltd116-
109 Crown Resorts Ltd7740.03102 Navigator Global Investments Ltd132-
310 CSR Ltd1,0990.0452 New Energy Solar Ltd35-
93 Decmil Group Ltd46-293 New Hope Corp Ltd2830.01
123 Domain Holdings Australia Ltd4040.01935 Nine Entertainment Co Holdings Ltd1,5730.05
32 Dongfang Modern Agriculture Holding Group Ltd--126 NRW Holdings Ltd2440.01
426 Downer EDI Ltd1,6200.05147 Nufarm Ltd4320.01
235 Eclipx Group Ltd3310.01856 Oil Search Ltd2,2600.07
60 Elanor Investor Group78-33 OM Holdings Ltd8-
86 Elders Ltd6600.02410 oOh!media Ltd4980.02
116 Emeco Holdings Ltd88-35 Orocobre Ltd107-
239 Energy World Corp Ltd13-309 Orora Ltd5980.02
151 Estia Health Ltd1870.01215 OZ Minerals Ltd2,5770.08
57 EVENT Hospitality and Entertainment Ltd4460.0227 Pacific Current Group Ltd123-
63 Finbar Group Ltd38-111 Pact Group Holdings Ltd2000.01
63 Fleetwood Corp Ltd97-471 Panoramic Resources Ltd45-
33 Flight Centre Travel Group Ltd4100.01212 Peet Ltd1600.01
72 Freedom Foods Group Ltd120-468 Perenti Global Ltd4500.02
658 G8 Education Ltd5670.02824 Perseus Mining Ltd6760.02
34 Galaxy Resources Ltd (non-voting rights)53-58 Premier Investments Ltd9650.03
146 Galaxy Resources Ltd (voting rights)2320.0131 Propel Funeral Partners Ltd68-
153 Genworth Mortgage Insurance Australia Ltd2960.01246 Qube Holdings Ltd5150.02


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
オーストラリア 2.66% (続き)ベルギー 0.50% (続き)
15 Regis Healthcare Ltd20-109 Ageas5,3420.17
26 Reject Shop Ltd132-2 Atenor1610.01
453 Reliance Worldwide Corp Ltd1,3770.05- Banque Nationale de Belgique99-
693 Resolute Mining Ltd3890.0129 Bekaert SA8890.03
193 Ridley Corp Ltd132-5 Cie d'Entreprises CFE4450.02
16 Salmat Ltd--47 Deceuninck NV96-
103 Sandfire Resources NL3320.0115 D'ieteren SA1,0320.03
62 Select Harvests Ltd2670.0113 Econocom Group SA36-
1,210 Senex Energy Ltd3160.01113 Euronav NV8890.03
28 Servcorp Ltd69-5 EVS Broadcast Equipment SA80-
44 Seven Group Holdings Ltd7040.0228 Exmar NV83-
50 SG Fleet Group Ltd79-3 Gimv NV1680.01
762 Sigma Healthcare Ltd3130.011 Immobel SA78-
492 Silver Lake Resources Ltd6400.022 Jensen-Group NV52-
236 Silver Mines Ltd32-43 Ontex Group NV5250.02
100 Sims Metal Management Ltd8310.0322 Orange Belgium SA4290.01
151 Southern Cross Media Group Ltd2560.015 Oxurion NV18-
148 SpeedCast International Ltd16-1 Picanol66-
109 SRG Global Ltd28-28 Proximus SADP5820.02
243 St Barbara Ltd4380.0130 Recticel SA3440.01
522 Star Entertainment Grp Ltd1,4400.05- Resilux90-
40 Sunland Group Ltd62-2 Roularta Media Group NV35-
96 Super Retail Group Ltd6960.025 Sioen Industries NV1310.01
102 Superloop Ltd79-5 Sipef NV3070.01
261 Syrah Resources Ltd1700.017 Solvay SA8050.03
1,221 Tabcorp Holdings Ltd3,4190.11- TER Beke SA47-
130 Tassal Group Ltd3450.0114 Tessenderlo Group SA5190.02
1,005 Tiger Resources Ltd1-31 Viohalco SA127-
3 Tribune Resources Ltd15-15,5030.50
107 Tuas Ltd52-カナダ 3.54%
182 United Malt Group Ltd5900.0231 5N Plus Inc60-
87 Village Roadshow Ltd1870.017 Acadian Timber Corp87-
995 Virgin Australia Holdings Ltd--159 Advantage Oil & Gas Ltd2530.01
365 Virgin Australia International Holdings--39 Aecon Group Inc4840.02
61 Virtus Health Ltd2380.01165 Africa Oil Corp1390.01
91 Vita Group Ltd70-5 Ag Growth International Inc111-
225 Viva Energy Group Ltd3200.0162 AGF Management Ltd2650.01
351 Vocus Group Ltd1,0570.0356 Aimia Inc1700.01
144 Webjet Ltd6070.023 AirBoss of America Corp42-
158 Western Areas Ltd2610.01261 Alamos Gold Inc2,1590.07
257 Westgold Resources Ltd4350.0131 Alaris Equity Partners Income3490.01
505 Whitehaven Coal Ltd4900.0210 Algoma Central Corp93-
196 Worley Ltd1,8510.06188 AltaGas Ltd2,6970.09
298 WPP AUNZ Ltd121-32 Altius Minerals Corp2770.01
82,3292.6622 Amerigo Resources Ltd13-
オーストリア 0.32%18 Andrew Peller Ltd1470.01
10 Agrana Beteiligungs AG1900.01209 ARC Resources Ltd1,0360.03
13 AT&S Austria Technologie & Systemtechnik AG3170.01170 Argonaut Gold Inc3050.01
60 Erste Group Bank AG1,7160.06371 Athabasca Oil Corp44-
22 EVN AG3830.0115 AutoCanada Inc3450.01
20 OMV AG6690.029 B2Gold Corp53-
5 Porr AG75-454 Baytex Energy Corp2310.01
128 Raiffeisen Bank International AG2,4520.08215 Birchcliff Energy Ltd3390.01
3 Semperit AG Holding88-39 Black Diamond Group Ltd53-
7 Strabag SE2370.01281 BlackBerry Ltd1,6540.05
41 UNIQA Insurance Group AG3090.0121 Bonterra Energy Corp26-
31 Vienna Insurance Group AG Wiener261 Cameco Corp2,6080.08
Versicherung Gruppe7350.0277 Canaccord Genuity Group Inc5290.02
83 Voestalpine AG2,6610.0957 Canadian Western Bank1,3190.04
9,8320.3246 Canfor Corp6750.02
ベルギー 0.50%21 Canfor Pulp Products Inc96-
14 Ackermans & van Haaren NV2,0280.0747 CanWel Building Materials Group Ltd2570.01


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
カナダ 3.54% (続き)カナダ 3.54% (続き)
290 Capstone Mining Corp4400.0133 Inter Pipeline Ltd3270.01
90 Cardinal Energy Ltd42-51 Interfor Corp7730.03
55 Cascades Inc6230.02242 Ivanhoe Mines Ltd1,1340.04
79 Celestica Inc5920.021 K-Bro Linen Inc39-
313 Cenovus Energy Inc1,5530.05106 Kelt Exploration Ltd1550.01
129 Centerra Gold Inc1,2600.0490 Keyera Corp1,5510.05
4 Cervus Equipment Corp33-369 Kinross Gold Corp2,6290.09
194 CES Energy Solutions Corp1680.0159 Knight Therapeutics Inc2510.01
185 China Gold International Resources Corp Ltd2590.018 KP Tissue Inc76-
2 Cogeco Communications Inc1670.011 Lassonde Industries Inc102-
4 Cogeco Inc2320.0125 Laurentian Bank of Canada6350.02
108 Copper Mountain Mining Corp132-20 Leon's Furniture Ltd3170.01
129 Corus Entertainment Inc4270.0178 Lightstream Resources Ltd--
406 Crescent Point Energy Corp7290.0231 Linamar Corp1,4270.05
120 Crew Energy Inc42-70 Lucara Diamond Corp27-
26 CRH Medical Corp73-383 Lundin Mining Corp3,0630.10
25 Dexterra Group Inc113-12 Magellan Aerospace Corp85-
13 DIRTT Environmental Solutions21-47 Major Drilling Group International Inc2180.01
23 Dorel Industries Inc2570.01- Manitok Energy Inc--
20 DREAM Unlimited Corp3050.0129 Maple Leaf Foods Inc5960.02
105 Dundee Precious Metals Inc6870.0258 Martinrea International Inc6330.02
153 ECN Capital Corp7100.023 Mav Beauty Brands Inc13-
1 E-L Financial Corp Ltd4950.026 MDF Commerce Inc39-
119 Eldorado Gold Corp1,4000.0521 Medical Facilities Corp117-
177 Element Fleet Management Corp1,8050.06176 MEG Energy Corp4950.02
11 Endeavour Mining Corp2650.012 Melcor Developments Ltd14-
72 Enerflex Ltd3830.0133 Methanex Corp1,3730.05
172 Enerplus Corp4380.0134 Mountain Province Diamonds Inc11-
117 Ensign Energy Services Inc78-10 MTY Food Group Inc4100.01
9 Equitable Group Inc6300.0274 Mullen Group Ltd5720.02
6 Exchange Income Corp1740.015 Neo Performance Materials Inc49-
20 Exco Technologies Ltd125-25 Nevada Copper Corp2-
- EXFO Inc--512 New Gold Inc9430.03
9 Fairfax Financial Holdings Ltd3,2350.1122 NFI Group Inc3390.01
60 Finning International Inc1,2200.047 Nighthawk Gold Corp6-
20 Firm Capital Mortgage Investment Corp1930.0116 North American Construction Group Ltd1680.01
50 First Mining Gold Corp15-149 NuVista Energy Ltd112-
381 First Quantum Minerals Ltd5,4100.18395 OceanaGold Corp4930.02
301 Fission Uranium Corp65-17 Onex Corp9250.03
121 Fortuna Silver Mines Inc7680.0325 Osisko Gold Royalties Ltd2710.01
74 Freehold Royalties Ltd2890.01168 Ovintiv Inc2,1450.07
46 Frontera Energy Corp99-43 Pan American Silver Corp1,2610.04
110 Galiano Gold Inc127-49 Paramount Resources Ltd1440.01
92 Gear Energy Ltd18-85 Parex Resources Inc1,1660.04
27 Genworth MI Canada Inc9210.0317 Park Lawn Corp3600.01
2 Glacier Media Inc--5 Pason Systems Inc28-
22 GoGold Resources Inc25-93 Peyto Exploration & Development Corp2040.01
19 GoldMoney Inc35-29 PHX Energy Services Corp44-
262 Gran Tierra Energy Inc75-15 Pinnacle Renewable Energy Inc93-
11 Guardian Capital Group Ltd2140.0120 Pizza Pizza Royalty Corp1380.01
4 Hardwoods Distribution Inc81-12 Polaris Infrastructure Inc1570.01
59 Headwater Exploration Inc85-1 PolyMet Mining Corp3-
24 Heroux-Devtek Inc2720.01118 PrairieSky Royalty Ltd9380.03
44 HEXO Corp48-13 Precision Drilling Corp2570.01
14 High Liner Foods Inc124-154 Premier Gold Mines Ltd3030.01
32 Home Capital Group Inc7290.0295 Pretium Resources Inc1,0400.03
164 Hudbay Minerals Inc1,0400.0382 Primo Water Corp1,2350.04
159 Husky Energy Inc6440.0281 Quarterhill Inc1650.01
37 iA Financial Corp Inc1,6390.0544 Questerre Energy Corp4-
291 IAMGOLD Corp9850.036 Recipe Unlimited Corp74-
7 IGM Financial Inc1790.0117 RF Capital Group Inc22-
24 Imperial Metals Corp62-13 Rocky Mountain Dealerships Inc72-


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
カナダ 3.54% (続き)デンマーク 0.82% (続き)
72 Rogers Sugar Inc3100.01325 Danske Bank AS5,3450.17
34 Roxgold Inc44-5 Demant AS1990.01
43 Russel Metals Inc6820.0227 Dfds AS1,1630.04
132 Sabina Gold & Silver Corp2360.0130 FLSmidth & Co AS9970.03
47 Sandstorm Gold Ltd3440.01- GronlandsBANKEN AS3-
125 Secure Energy Services Inc2090.0142 H Lundbeck AS1,2670.04
195 Seven Generations Energy Ltd8110.0315 H&H International AS3330.01
91 Shaw Communications Inc1,5810.052 Harboes Bryggeri AS18-
56 ShawCor Ltd1380.0146 ISS AS8430.03
32 Sienna Senior Living Inc3300.0144 Jyske Bank AS1,6380.05
24 Sierra Wireless Inc3460.0113 Maersk Drilling AS3720.01
15 Sleep Country Canada Holdings Inc2680.0126 Matas AS3310.01
44 SNC-Lavalin Group Inc8110.0315 Nilfisk Holding AS3210.01
160 SSR Mining Inc2,9690.1016 NKT AS5870.02
35 Stantec Inc1,0410.039 NNIT AS1660.01
24 Stelco Holdings Inc3060.012 Parken Sport & Entertainment AS25-
21 Stella-Jones Inc7110.0217 Per Aarsleff Holding AS7180.02
13 Storm Resources Ltd23-21 Ringkjoebing Landbobank AS1,8340.06
229 Stornoway Diamond Corp1-2 Rockwool International AS, Class A6370.02
101 Superior Plus Corp9440.032 Rockwool International AS, Class B6920.02
168 Surge Energy Inc38-11 Royal Unibrew AS1,1090.04
172 Tamarack Valley Energy Ltd125-6 RTX AS2240.01
133 Taseko Mines Ltd127-49 Scandinavian Tobacco Group AS7590.03
189 Teck Resources Ltd2,9790.109 Schouw & Co AS9160.03
79 Teranga Gold Corp8670.035 Solar AS2950.01
191 Tidewater Midstream and Infrastructure Ltd106-73 Spar Nord Bank AS7140.02
36 Timbercreek Financial Corp2450.0147 Sydbank AS9600.03
138 TORC Oil & Gas Ltd2270.011 Tivoli AS91-
51 Torex Gold Resources Inc7070.023 Topdanmark AS1370.01
33 Total Energy Services Inc79-29 TORM PLC2100.01
169 Tourmaline Oil Corp2,3580.081 United International Enterprises2910.01
189 TransAlta Corp1,3120.04462 Vestjysk Bank AS2160.01
49 Transcontinental Inc7240.0225,2400.82
60 TransGlobe Energy Corp30-フィンランド 0.71%
374 Trevali Mining Corp56-31 Ahlstrom-Munksjo Oyj6670.02
189 Trican Well Service Ltd1920.0121 Aktia Bank Oyj2540.01
23 Turquoise Hill Resources Ltd2210.016 Altia Oyj74-
37 Uni-Select Inc2400.011 Apetit Oyj13-
98 Vermilion Energy Inc3910.012 Asiakastieto Group Oyj83-
15 Wajax Corp1900.019 Aspo Oyj71-
30 West Fraser Timber Co Ltd1,6770.056 Atria Oyj70-
303 Western Forest Products Inc2240.0112 Bittium Oyj78-
16 Westshore Terminals Investment Corp2040.0123 Cargotec Oyj9130.03
300 Whitecap Resources Inc9060.035 Digia Oyj36-
36 WildBrain Ltd48-263 Finnair Oyj1950.01
4 Winpak Ltd119-10 Fiskars Oyj Abp1680.01
496 Yamana Gold Inc2,5910.0816 Glaston Oyj Abp12-
51 Yangarra Resources Ltd24-20 HKScan Oyj45-
109,5263.5445 Huhtamaki Oyj2,2430.07
中国 0.03%2 Ilkka-Yhtyma Oyj6-
98 China Boton Group Co Ltd22-42 Kemira Oyj5940.02
308 Wharf Holdings Ltd7620.0337 Kesko Oyj, Class A9200.03
7840.0350 Kesko Oyj, Class B1,3180.04
デンマーク 0.82%35 Konecranes Oyj1,1820.04
- ALK-Abello AS117-17 Lassila & Tikanoja Oyj2750.01
46 Alm Brand AS5380.0284 Metsa Board Oyj7610.03
86 Bang & Olufsen AS3020.0117 Neles Oyj2200.01
3 BankNordik P/F70-59 Nokian Renkaat Oyj2,0780.07
4 Bavarian Nordic AS125-5 Olvi Oyj3040.01
3 Brodrene Hartmann AS2390.0163 Oriola Oyj, Class B1420.01
46 Columbus AS80-141 Outokumpu Oyj4300.01
20 D/S Norden AS3580.0173 Outotec Oyj6560.02


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
フィンランド 0.71% (続き)フランス 2.18% (続き)
3 Pihlajalinna Oyj35-22 Imerys SA9020.03
60 Raisio Oyj2290.0126 IPSOS8400.03
7 Rapala VMC Oyj31-11 Jacquet Metal Service SA1500.01
- Raute Oyj8-43 Korian SA1,4230.05
6 Rovio Entertainment Oyj32-37 Lagardere SCA8680.03
44 Sanoma Oyj6390.022 Laurent-Perrier1680.01
18 Stockmann Oyj Abp18-1 Linedata Services23-
209 Stora Enso Oyj3,5270.1115 LISI3940.01
6 Teleste Oyj32-34 Maisons du Monde SA5620.02
9 Terveystalo Oyj102-8 Manitou BF SA1980.01
33 Tieto Oyj1,0600.041 Manutan International71-
35 Uponor Oyj7170.0215 Mersen SA4260.01
9 Valmet Oyj2130.0119 METabolic EXplorer SA50-
136 Wartsila Oyj Abp1,2780.04319 Natixis SA9790.03
64 YIT Oyj3730.0116 Nexans SA1,0280.03
22,1020.7128 Nexity SA1,1020.04
フランス 2.18%3 Nicox19-
6 AKWEL1560.019 NRJ Group65-
23 Albioma SA1,1810.0411 OL Groupe SA27-
5 ALD SA67-36 Onxeo SA32-
3 Amplitude Surgical SAS7-4 Pierre & Vacances SA69-
18 Arkema SA2,0950.076 Plastivaloire42-
5 Assystem SA137-46 Publicis Groupe SA2,0680.07
55 Atos SE5,0670.1621 Quadient3810.01
4 Axway Software SA111-17 Rallye SA100-
32 Beneteau SA3280.0198 Renault SA3,9010.13
10 Bigben Interactive2160.01176 Rexel SA2,3770.08
3 Boiron SA1570.0114 Rothschild & Co4470.02
44 Bollore SA1710.013 Savencia SA2100.01
13 Bonduelle SCA3040.0193 SCOR SE3,1660.10
2 Bourbon Corp--3 Seche Environnement SA121-
- Burelle SA71-204 SES SA1,8480.06
30 Casino Guichard Perrachon SA8690.0314 Societe BIC SA8280.03
1 Catering International Services9-- Societe Marseillaise du Tunnel Prado-Carenage SA9-
4 Cegedim SA124-6 Sopra Steria Group9340.03
541 CGG SA5900.0274 SPIE SA1,5110.05
8 Chargeurs SA1590.0110 SRP Groupe SA21-
7 Cie des Alpes1530.013 Stef SA2220.01
37 Cie Plastic Omnium SA1,2740.042 Sword Group76-
36 CNP Assurances5670.023 Synergie SA110-
66 Coface SA6650.0223 Tarkett SA3990.01
86 Derichebourg SA3390.0124 Television Francaise 11850.01
32 Eiffage SA3,1470.10- Total Gabon74-
75 Elior Group SA4300.014 Trigano SA7170.02
134 Elis SA2,1730.07125 Valeo SA4,8130.16
5 Eramet2000.016 Vallourec SA2080.01
2 Erytech Pharma SA19-3 Vetoquinol SA2730.01
2 Esso SA Francaise27-15 Vicat SA5960.02
41 Etablissements Maurel et Prom SA76-3 VIEL & Cie SA20-
80 Europcar Mobility Group85-6 Vilmorin & Cie SA3320.01
115 Eutelsat Communications SA1,2620.041 Vranken-Pommery Monopole SA12-
1 Exel Industries47-8 X-Fab Silicon Foundries SE42-
49 Faurecia SE2,4080.0867,3752.18
1 Fleury Michon SA18-ドイツ 2.29%
13 Fnac Darty SA7060.0228 1&1 Drillisch AG6670.02
8 GL Events93-20 7C Solarparken AG102-
2 Groupe Crit122-38 Aareal Bank AG9170.03
5 Groupe Open85-25 ADVA Optical Networking SE2140.01
5 Guerbet1750.011 Aixtron SE10-
8 Haulotte Group SA48-5 Allgeier SE4440.01
3 Hexaom110-21 Aurubis AG1,5600.05
29 Iliad SA5,8880.196 Bauer AG69-


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
ドイツ 2.29% (続き)ドイツ 2.29% (続き)
10 BayWa AG3800.0120 Norma Group SE8930.03
4 Bertrandt AG1960.0125 Patrizia AG7140.02
3 Bijou Brigitte AG64-58 PNE AG5310.02
19 Bilfinger SE5300.021 Progress-Werk Oberkirch AG36-
47 Borussia Dortmund GmbH & Co KGaA3160.0157 ProSiebenSat.1 Media SE8290.03
107 Ceconomy AG5260.0289 QSC AG1730.01
2 Centrotec Sustainable AG42-27 Rheinmetall AG2,3530.08
3 Cewe Stiftung & Co KGaA3570.0122 RTL Group SA1,0340.03
546 Commerzbank AG3,3700.1140 SAF-Holland SE4850.02
8 Corestate Capital Holding SA1630.0121 Salzgitter AG4290.01
29 Covestro AG1,6360.0537 SGL Carbon SE1730.01
21 CropEnergies AG3490.017 Sixt SE8270.03
8 Deutsche Beteiligungs AG2950.012 SMT Scharf AG24-
162 Deutsche Lufthansa AG1,8680.062 Softing AG17-
84 Deutsche Pfandbriefbank AG8370.0330 Software AG1,2850.04
78 Deutz AG4470.012 Stabilus SA141-
38 Dialog Semiconductor PLC2,0330.0743 Suedzucker AG6790.02
4 DMG Mori AG2180.0114 SUESS MicroTec SE3130.01
3 Draegerwerk AG & Co KGaA1820.016 Surteco Group SE1660.01
29 Duerr AG1,0720.0323 Takkt AG3000.01
3 EDAG Engineering Group AG36-14 Talanx AG5270.02
5 Elmos Semiconductor AG147-2 Technotrans SE64-
13 ElringKlinger AG2060.0128 Tele Columbus AG78-
4 First Sensor AG2100.01538 Telefonica Deutschland Holding AG1,4850.05
- FORTEC Elektronik AG8-3 Traffic Systems SE122-
9 Francotyp-Postalia Holding AG35-41 Uniper SE1,4010.05
20 Fraport AG Frankfurt Airport Services Worldwide1,1210.0462 United Internet AG2,4660.08
78 Freenet AG1,5830.0517 VERBIO Vereinigte BioEnergie AG5160.02
79 GEA Group AG2,6940.095 Vossloh AG2290.01
20 Gerresheimer AG2,2810.079 Wacker Chemie AG1,1810.04
7 Gesco AG118-24 Wacker Neuson SE4640.01
14 GFT Technologies SE2040.0113 Wuestenrot & Wuerttembergische AG2600.01
1 Grammer AG12-7 Zeal Network SE3410.01
9 H&R GmbH & Co KGaA58-70,8332.29
3 Hamburger Hafen und Logistik AG67-香港 0.83%
17 Hapag-Lloyd AG1,3450.0474 AEON Credit Service Asia Co Ltd50-
52 HeidelbergCement AG3,6640.12240 Allied Group Ltd87-
216 Heidelberger Druckmaschinen AG2060.01965 Applied Development Holdings Ltd25-
23 Hella GmbH & Co KGaA1,3020.0410 Arts Optical International Holdings Ltd1-
1 Highlight Communications AG6-58 Asia Financial Holdings Ltd28-
22 HolidayCheck Group AG54-384 Asia Standard International Group Ltd44-
9 Hornbach Baumarkt AG4070.0128 Associated International Hotels Ltd52-
9 Hornbach Holding AG & Co KGaA9060.03115 Automated Systems Holdings Ltd17-
19 Hugo Boss AG5760.02183 Bank of East Asia Ltd4060.01
13 Indus Holding AG4990.02108 BOC Aviation Ltd9660.03
2 Instone Real Estate Group AG60-182 BOCOM International Holdings Co Ltd25-
28 Jenoptik AG8400.03342 BOE Varitronix Ltd1270.01
3 JOST Werke AG140-243 Brightoil Petroleum Holdings Ltd9-
107 K&S AG9580.031,860 Burwill Holdings Ltd3-
41 KION Group AG3,1700.10597 Cathay Pacific Airways Ltd5600.02
40 Kloeckner & Co SE3420.01905 Century City International Holdings Ltd48-
11 Koenig & Bauer AG3060.0138 Chen Hsong Holdings10-
10 Krones AG7170.02122 Cheuk Nang Holdings Ltd43-
- KSB SE & Co KGaA28-44 Chevalier International Holdings Ltd54-
7 KWS Saat SE & Co KGaA4970.02130 China Best Group Holding Ltd8-
52 Lanxess AG3,5950.124,950 China Energy Development Holdings Ltd76-
5 Leifheit AG2380.01432 China Star Entertainment Ltd83-
22 Leoni AG163-8,865 China Strategic Holdings Ltd1560.01
3 Manz AG133-399 Chinese Estates Holdings Ltd2020.01
117 METRO AG1,0690.0333 Chong Hing Bank Ltd40-
32 MLP SE1970.01197 Chow Sang Sang Holdings International Ltd2390.01
53 Nordex SE1,2350.04650 Chuang's China Investments Ltd36-


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
香港 0.83% (続き)香港 0.83% (続き)
659 Chuang's Consortium International Ltd79-340 Kerry Logistics Network Ltd7460.03
1,029 CITIC Telecom International Holdings Ltd3420.01393 Kerry Properties Ltd1,0080.03
312 CNQC International Holdings Ltd25-142 Kingmaker Footwear Holdings Ltd14-
3,030 Convoy Global Holdings Ltd12-261 Kowloon Development Co Ltd2520.01
339 Cowell e Holdings Inc2090.0146 Kwoon Chung Bus Holdings Ltd13-
3,755 CSI Properties Ltd1050.01115 Lai Sun Development Co Ltd96-
303 CW Group Holdings Ltd2-77 Lai Sun Garment International Ltd62-
312 Dah Sing Banking Group Ltd3350.011,136 Landing International Development Ltd33-
110 Dah Sing Financial Holdings Ltd3230.01392 Landsea Green Group Co Ltd32-
107 Dickson Concepts International Ltd51-651 Langham Hospitality Investments and Langham
150 Eagle Nice International Holdings Ltd82-Hospitality Investments Ltd90-
228 EcoGreen International Group Ltd38-820 Lerado Financial Group Co Ltd3-
2,538 Emperor Capital Group Ltd43-916 Lippo China Resources Ltd16-
345 Emperor Entertainment Hotel Ltd50-124 Lippo Ltd37-
842 Emperor International Holdings Ltd1140.01130 Liu Chong Hing Investment Ltd1140.01
2,890 Emperor Watch & Jewellery Ltd40-215 Luk Fook Holdings International Ltd5430.02
1,462 Esprit Holdings Ltd1910.0160 Luks Group Vietnam Holdings Co Ltd10-
1,090 Eternity Investment Ltd25-100 Lung Kee Bermuda Holdings32-
1,024 Far East Consortium International Ltd3380.011,455 Macau Legend Development Ltd1930.01
2,221 FIH Mobile Ltd2380.01822 Magnificent Hotel Investment Ltd11-
1,654 First Pacific Co Ltd5050.0217,041 Mason Group Holdings Ltd70-
608 First Shanghai Investments Ltd24-402 Meilleure Health International Industry Group Ltd25-
73 FIT Hon Teng Ltd24-305 Melco International Development Ltd5760.02
284 Fountain SET Holdings Ltd33-259 Midland Holdings Ltd24-
242 GDH Guangnan Holdings Ltd21-220 Midland IC&I Ltd3-
336 Genting Hong Kong Ltd13-66 Ming Fai International Holdings Ltd6-
237 Get Nice Financial Group Ltd20-128 Miramar Hotel & Investment2140.01
812 Giordano International Ltd1230.01288 Modern Dental Group Ltd52-
334 Glorious Sun Enterprises Ltd34-328 Nameson Holdings Ltd22-
528 Golden Resources Development International Ltd40-66 National Electronics Holdings Ltd9-
910 Good Resources Holdings Ltd10-126 Neo-Neon Holdings Ltd8-
738 Goodbaby International Holdings Ltd96-560 NewOcean Energy Holdings Ltd53-
156 Great Eagle Holdings Ltd4160.02379 NWS Holdings Ltd3620.01
14,236 G-Resources Group Ltd77-60 OP Financial Ltd7-
23 Guoco Group Ltd2910.01326 Oriental Watch Holdings1150.01
1,947 Guotai Junan International Holdings Ltd2770.01946 Pacific Andes International Holdings Ltd3-
1,477 Haitong International Securities Group Ltd3810.013,441 Pacific Basin Shipping Ltd5640.02
92 Hang Fung Gold Technology Ltd--47 Pacific Textiles Holdings Ltd32-
568 Hang Lung Group Ltd1,4320.05180 Paliburg Holdings Ltd46-
311 Hanison Construction Holdings Ltd40-112 PC Partner Group Ltd28-
960 Hao Tian Development Group Ltd30-74 Pico Far East Holdings Ltd14-
74 Harbour Centre Development Ltd70-626 Playmates Holdings Ltd73-
580 HKR International Ltd2730.011,178 Polytec Asset Holdings Ltd1080.01
107 HKT Trust & HKT Ltd1400.01501 PT International Development Co Ltd15-
58 Hon Kwok Land Investment Co Ltd19-260 Public Financial Holdings Ltd69-
72 Hong Kong Ferry Holdings Co Ltd57-425 PYI Corp Ltd17-
311 Hongkong & Shanghai Hotels Ltd2810.01223 Regal Hotels International Holdings Ltd78-
360 Hongkong Chinese Ltd31-72 Safety Godown Co Ltd34-
1,330 Hsin Chong Group Holdings Ltd11-728 Samsonite International SA1,1770.04
330 Hung Hing Printing Group Ltd44-124 SAS Dragon Holdings Ltd44-
1,246 Hutchison Telecommunications Hong Kong43 SEA Holdings Ltd41-
Holdings Ltd1980.01380 Shangri-La Asia Ltd3480.01
255 IPE Group Ltd23-295 Shenwan Hongyuan HK Ltd35-
2,884 IRC Ltd40-14 Shun Ho Property Investments Ltd3-
354 IT Ltd89-631 Shun Tak Holdings Ltd1990.01
388 ITC Properties Group Ltd39-156 Sing Tao News Corp Ltd20-
356 Jacobson Pharma Corp Ltd52-846 Singamas Container Holdings Ltd52-
235 Johnson Electric Holdings Ltd5540.02838 Sino Land Co Ltd1,1440.04
166 K Wah International Holdings Ltd83-181 SmarTone Telecommunications Holdings Ltd1000.01
192 Kader Holdings Co Ltd12-56 SOCAM Development Ltd9-
50 Kam Hing International Holdings Ltd2-42 Soundwill Holdings Ltd38-
46 Keck Seng Investments21-460 South China Holdings Co Ltd6-


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
香港 0.83% (続き)イスラエル 0.35% (続き)
281 Stella International Holdings Ltd3230.0149 Israel Canada T.R Ltd109-
302 Sun Hung Kai & Co Ltd1350.018 Israel Land Development - Urban Renewal Ltd76-
208 Swire Pacific Ltd, Class A1,1890.041 Isras Investment Co Ltd2280.01
300 Swire Pacific Ltd, Class B2980.011 Issta Lines Ltd8-
218 TAI Cheung Holdings Ltd1320.0122 Kamada Ltd1480.01
2,355 Talent Property Group Ltd7-9 Kenon Holdings Ltd2390.01
42 Tan Chong International Ltd11-3 Kerur Holdings Ltd95-
163 Tao Heung Holdings Ltd17-- Klil Industries Ltd19-
89 Television Broadcasts Ltd91-20 Magic Software Enterprises Ltd3350.01
436 Texwinca Holdings Ltd87-- Malam - Team Ltd2-
948 Town Health International Medical Group Ltd16-62 Mediterranean Towers Ltd1640.01
130 Transport International Holdings Ltd2550.01- Mehadrin Ltd16-
442 United Laboratories International Holdings Ltd3310.0115 Meitav Dash Investments Ltd63-
676 Up Energy Development Group Ltd2-18 Menora Mivtachim Holdings Ltd3130.01
344 Vedan International Holdings Ltd34-276 Migdal Insurance & Financial Holdings Ltd2460.01
456 VSTECS Holdings Ltd3830.01- Minrav Holdings Ltd23-
68 Wai Kee Holdings Ltd35-3 Mivtach Shamir Holdings Ltd88-
3,460 Wang On Group Ltd27-5 Mizrahi Tefahot Bank Ltd99-
39 Wing On Co International Ltd86-24 Naphtha Israel Petroleum Corp Ltd107-
229 Wing Tai Properties Ltd1060.0118 Nawi Brothers Ltd91-
174 Wonderful Sky Financial Group Holdings Ltd14-1 Neto ME Holdings Ltd63-
62 Wong's International Holdings Ltd19-11 NR Spuntech Industries Ltd34-
19 YGM Trading Ltd6-1,257 Oil Refineries Ltd2720.01
411 Yue Yuen Industrial Holdings Ltd8440.0391 Partner Communications Co Ltd4560.02
530 Zensun Enterprises Ltd33-3 Paz Oil Co Ltd2700.01
25,5920.8314 Perion Network Ltd105-
アイルランド 0.19%87 Phoenix Holdings Ltd5820.02
62 AIB Group PLC111-3 Plasson Industries Ltd1270.01
136 Bank of Ireland Group PLC4240.011 Priortech Ltd18-
88 Cairn Homes PLC98-4 Scope Metals Group Ltd78-
5 FBD Holdings PLC43-129 Shikun & Binui Ltd6620.02
23 Flutter Entertainment PLC4,2410.1431 Tower Semiconductor Ltd7690.03
20 Glanbia PLC2420.015 YH Dimri Construction & Development Ltd1950.01
18 Smurfit Kappa Group PLC7720.0310,9220.35
5,9310.19イタリア 1.26%
イスラエル 0.35%917 A2A SpA1,4020.05
1 Afcon Holdings Ltd40-31 ACEA SpA6670.02
1 Africa Israel Residences Ltd22-38 Aeffe SpA51-
3 Alrov Properties and Lodgings Ltd95-196 Anima Holding SpA8650.03
27 Ashtrom Group Ltd4360.0120 Arnoldo Mondadori Editore SpA35-
31 Avgol Industries 1953 Ltd30-47 Ascopiave SpA2000.01
55 Azorim-Investment Development & Construction6 Autogrill SpA36-
Co Ltd1320.011 Autostrade Meridionali SpA33-
23 Carasso Motors Ltd86-13 Avio SpA1800.01
76 Cellcom Israel Ltd3430.0116,439 Banca Carige SpA6-
23 Ceragon Networks Ltd62-11 Banca IFIS SpA118-
37 Clal Insurance Enterprises Holdings Ltd4940.0223 Banca Monte dei Paschi di Siena SpA32-
23 Delek Automotive Systems Ltd1500.01207 Banca Popolare di Sondrio SCpA5590.02
2 Delek Group Ltd80-235 Banca Profilo SpA60-
6 Delta Galil Industries Ltd1360.0137 Banca Sistema SpA77-
3 Dor Alon Energy in Israel 1988 Ltd66-931 Banco BPM SpA2,0680.07
1 Duniec Brothers Ltd41-25 Banco di Desio e della Brianza SpA72-
198 El Al Israel Airlines38-10 BasicNet SpA45-
9 Electra Consumer Products 1970 Ltd2600.0110 Biesse SpA1940.01
15 Equital Ltd3320.01667 BPER Banca1,1720.04
16 First International Bank Of Israel Ltd4090.0137 Buzzi Unicem SpA9110.03
6 Formula Systems 1985 Ltd4570.0237 Cairo Communication SpA52-
5 Fox Wizel Ltd4060.0137 Cementir Holding NV3040.01
9 Gilat Satellite Networks Ltd52-576 CIR SpA-Compagnie Industriali3270.01
1 Hadera Paper Ltd60-326 CNH Industrial NV3,5460.12
69 Harel Insurance Investments & Financial Services59 Credito Emiliano SpA3290.01
Ltd5950.0238 Credito Valtellinese SpA5060.02


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
イタリア 1.26% (続き)日本 8.23% (続き)
320 d'Amico International Shipping SA37-51 ADEKA Corp8110.03
5 Danieli&C Officine Meccaniche SpA85-1 Advanex Inc11-
10 Datalogic SpA1560.0132 AEON Financial Service Co Ltd3460.01
21 De' Longhi SpA7450.024 AFC-HD AMS Life Science Co Ltd25-
33 DeA Capital SpA45-3 Agro-Kanesho Co Ltd47-
11 Elica SpA38-2 AGS Corp13-
37 Emak SpA43-17 Ahresty Corp51-
13 Enav SpA59-6 Aichi Bank Ltd1830.01
40 ERG SpA9760.0325 Aichi Corp2210.01
26 Esprinet SpA2600.018 Aichi Steel Corp2040.01
20 Eurotech SpA106-2 Aichi Tokei Denki Co Ltd93-
48 Falck Renewables SpA3160.0136 Aida Engineering Ltd3040.01
6 Fila SpA60-7 Aiphone Co Ltd104-
326 Fincantieri SpA2560.0161 Air Water Inc1,0090.03
98 FNM SpA70-17 Airport Facilities Co Ltd75-
4 Gefran SpA24-26 Aisan Industry Co Ltd112-
67 Geox SpA63-16 Aizawa Securities Co Ltd110-
16 Guala Closures SpA1300.0121 Akatsuki Corp57-
349 Hera SpA1,2700.0412 Akita Bank Ltd1620.01
34 Illimity Bank SpA3560.015 Albis Co Ltd117-
114 IMMSI SpA59-16 Alconix Corp2060.01
194 Intek Group SpA78-9 Alinco Inc78-
10 Italmobiliare SpA3490.016 Alpen Co Ltd1340.01
8 IVS Group SA45-5 Alpha Corp46-
5 La Doria SpA80-33 Alps Alpine Co Ltd4190.01
225 Leonardo SpA1,6350.0512 Alps Logistics Co Ltd85-
4 LU-VE SpA68-8 Altech Co Ltd24-
41 Maire Tecnimont SpA77-37 Amada Holdings Co Ltd3580.01
10 Massimo Zanetti Beverage Group SpA63-3 Amiyaki Tei Co Ltd79-
342 Mediaset SpA8100.033 Anabuki Kosan Inc51-
370 Mediobanca Banca di Credito Finanziario SpA3,3180.113 AOI Electronics Co Ltd69-
6 Openjobmetis Spa agenzia per il lavoro47-16 AOI TYO Holdings Inc63-
100 OVS SpA127-28 AOKI Holdings Inc110-
115 Piaggio & C SpA3660.0113 Aomori Bank Ltd2900.01
246 Pirelli & C SpA1,3230.0434 Aoyama Trading Co Ltd1440.01
3 Prima Industrie SpA47-77 Aozora Bank Ltd1,3890.05
97 Prysmian SpA3,2060.1013 Arakawa Chemical Industries Ltd1360.01
149 Reno de Medici SpA1710.019 Arata Corp4180.01
61 Rizzoli Corriere Della Sera Mediagroup SpA42-3 Araya Industrial Co Ltd35-
4 Sabaf SpA60-15 Arcland Sakamoto Co Ltd2550.01
1 SAES Getters SpA19-26 Arcs Co Ltd5390.02
81 Safilo Group SpA68-6 Arealink Co Ltd50-
322 Saipem SpA7920.0325 Arisawa Manufacturing Co Ltd2230.01
153 Salini Impregilo SpA2340.0113 Artnature Inc83-
400 Saras SpA2590.016 Asahi Broadcasting Group Holdings Corp42-
8 Servizi Italia SpA22-41 Asahi Diamond Industrial Co Ltd1680.01
3 Sesa SpA2660.013 Asahi Kogyosha Co Ltd87-
95 Societa Cattolica di Assicurazioni SC5700.022 Asahi Printing Co Ltd17-
16 SOL SpA2450.0111 Asahi Yukizai Corp1570.01
5,637 Telecom Italia SpA2,6570.095 Asanuma Corp1900.01
144 Tenaris SA1,1160.044 Asax Co Ltd26-
7 Tod's SpA2080.013 Ashimori Industry Co Ltd29-
3 TXT e-solutions SpA27-24 Asia Pile Holdings Corp106-
283 Unipol Gruppo SpA1,3660.0514 ASKA Pharmaceutical Co Ltd2330.01
61 UnipolSai Assicurazioni SpA1630.012 Asti Corp25-
38,9251.2612 Atsugi Co Ltd58-
日本 8.23%41 Autobacs Seven Co Ltd5130.02
30 77 Bank Ltd4240.0124 Avex Inc2170.01
3 A&A Material Corp26-23 Awa Bank Ltd5660.02
12 A&D Co Ltd102-27 Bando Chemical Industries Ltd1470.01
10 Achilles Corp1340.0111 Bank of Iwate Ltd2260.01
11 AD Works Co Ltd16-7 Bank of Kochi Ltd50-


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
日本 8.23% (続き)日本 8.23% (続き)
9 Bank of Nagoya Ltd2350.017 Dai-ichi Seiko Co Ltd1350.01
15 Bank of Okinawa Ltd4100.019 Daiken Corp1660.01
6 Bank of Saga Ltd75-19 Daiki Aluminium Industry Co Ltd125-
31 Bank of the Ryukyus Ltd2620.016 Daikoku Denki Co Ltd52-
2 Bank of Toyama Ltd53-32 Daikyonishikawa Corp2120.01
33 Belluna Co Ltd3050.017 Dainichi Co Ltd62-
3 Biofermin Pharmaceutical Co Ltd64-9 Dainichiseika Color & Chemicals Manufacturing Co
8 Brother Industries Ltd1510.01Ltd1990.01
34 Bunka Shutter Co Ltd2970.0120 Daio Paper Corp3390.01
4 C Uyemura & Co Ltd2640.0122 Daishi Hokuetsu Financial Group Inc4900.02
9 CAC Holdings Corp119-2 Daishinku Corp49-
2 Canare Electric Co Ltd32-6 Daisue Construction Co Ltd48-
12 Canon Electronics Inc1670.016 Daito Bank Ltd38-
15 Carlit Holdings Co Ltd85-6 Daitron Co Ltd80-
9 Cawachi Ltd2610.0122 Daiwa Industries Ltd2150.01
20 Central Glass Co Ltd4310.0165 DCM Holdings Co Ltd7420.02
84 Chiba Bank Ltd4730.0246 Denka Co Ltd1,4320.05
32 Chiba Kogyo Bank Ltd81-7 Denki Kogyo Co Ltd1860.01
10 Chilled & Frozen Logistics Holdings Co Ltd1810.0110 Denyo Co Ltd2010.01
4 Chino Corp49-36 Dexerials Corp4370.01
9 Chiyoda Co Ltd78-41 DIC Corp9950.03
8 Chiyoda Integre Co Ltd117-4 DKK-Toa Corp28-
6 Chodai Co Ltd74-9 Doshisha Co Ltd1800.01
14 Chofu Seisakusho Co Ltd2650.0118 Doutor Nichires Holdings Co Ltd2520.01
9 Chori Co Ltd1340.0129 Dowa Holdings Co Ltd9470.03
15 Chubu Shiryo Co Ltd1980.0123 Duskin Co Ltd6020.02
16 Chudenko Corp3260.016 DyDo Group Holdings Inc3040.01
6 Chuetsu Pulp & Paper Co Ltd76-4 Dynic Corp35-
5 Chugai Ro Co Ltd71-21 Eagle Industry Co Ltd1830.01
94 Chugoku Bank Ltd8260.0331 Ebara Corp9980.03
18 Chugoku Marine Paints Ltd1740.013 Ebara Foods Industry Inc64-
8 Chukyo Bank Ltd1590.014 Ebara Jitsugyo Co Ltd130-
2 Chuo Spring Co Ltd59-55 EDION Corp5150.02
5 Chuo Warehouse Co Ltd55-11 EF-ON Inc125-
25 CI Takiron Corp1690.0124 Ehime Bank Ltd2480.01
160 Citizen Watch Co Ltd4200.0112 Eidai Co Ltd32-
16 Cleanup Corp73-10 Eizo Corp3490.01
2 CMIC Holdings Co Ltd25-11 Elematec Corp100-
34 CMK Corp1320.018 Endo Lighting Corp43-
24 Coca-Cola Bottlers Japan Holdings Inc3610.013 Enomoto Co Ltd38-
303 Concordia Financial Group Ltd1,0690.046 Enplas Corp1680.01
6 Corona Corp54-15 Ensuiko Sugar Refining Co Ltd33-
16 Cosel Co Ltd1680.015 EPS Holdings Inc50-
40 Cosmo Energy Holdings Co Ltd6690.026 Eslead Corp79-
8 Cosmos Initia Co Ltd33-13 ESPEC Corp2410.01
4 Create Medic Co Ltd36-3 ESTELLE Holdings Co Ltd15-
96 Credit Saison Co Ltd1,1030.0420 Exedy Corp2380.01
8 CTI Engineering Co Ltd1660.016 Faith Inc47-
10 Dai Nippon Toryo Co Ltd85-5 Falco Holdings Co Ltd74-
138 Daicel Corp9690.0320 FCC Co Ltd3820.01
9 Dai-Dan Co Ltd2470.0117 Feed One Co Ltd1420.01
5 Daido Kogyo Co Ltd34-2 Felissimo Corp29-
31 Daido Metal Co Ltd1400.012 Fenwal Controls of Japan Ltd25-
18 Daido Steel Co Ltd7570.0328 Ferrotec Holdings Corp3360.01
19 Daidoh Ltd37-150 FIDEA Holdings Co Ltd1570.01
14 Daihatsu Diesel Manufacturing Co Ltd55-14 Fields Corp49-
9 Daihen Corp3850.0138 First Bank of Toyama Ltd106-
9 Daiho Corp2820.015 First Juken Co Ltd53-
2 Dai-Ichi Cutter Kogyo KK49-14 FJ Next Co Ltd1310.01
6 Daiichi Jitsugyo Co Ltd2430.0117 Foster Electric Co Ltd1840.01
3 Daiichi Kensetsu Corp52-17 France Bed Holdings Co Ltd1390.01
14 Daiichi Kigenso Kagaku-Kogyo Co Ltd92-5 Freund Corp34-


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
日本 8.23% (続き)日本 8.23% (続き)
10 F-Tech Inc55-6 Haruyama Holdings Inc38-
12 Fudo Tetra Corp1870.01149 Haseko Corp1,6110.05
13 Fuji Co Ltd2370.011 Hashimoto Sogyo Holdings Co Ltd20-
37 Fuji Corp9040.032 Hayashikane Sangyo Co Ltd11-
20 Fuji Corp Ltd120-101 Hazama Ando Corp6670.02
7 Fuji Die Co Ltd42-27 Heiwa Corp3670.01
21 Fuji Media Holdings Inc2210.0118 Heiwa Real Estate Co Ltd5820.02
25 Fuji Oil Co Ltd44-16 Heiwado Co Ltd3350.01
9 Fuji Pharma Co Ltd111-12 Helios Techno Holding Co Ltd35-
6 Fujibo Holdings Inc2210.0112 Hibiya Engineering Ltd2160.01
12 Fujicco Co Ltd2320.0116 HI-LEX Corp1810.01
15 Fujikura Composites Inc55-1 Himaraya Co Ltd12-
18 Fujikura Kasei Co Ltd89-146 Hino Motors Ltd1,2610.04
162 Fujikura Ltd6310.028 Hirakawa Hewtech Corp84-
1 Fujimak Corp11-2 Hirano Tecseed Co Ltd28-
10 Fujimori Kogyo Co Ltd4610.02132 Hirogin Holdings Inc7320.02
67 Fujisash Co Ltd51-1 Hiroshima Electric Railway Co Ltd5-
5 Fujishoji Co Ltd36-15 Hisaka Works Ltd120-
7 Fujiya Co Ltd1580.0127 Hitachi Capital Corp6210.02
7 FuKoKu Co Ltd48-105 Hitachi Zosen Corp4020.01
5 Fukuda Corp2430.015 Hodogaya Chemical Co Ltd2070.01
2 Fukuda Denshi Co Ltd1580.019 Hogy Medical Co Ltd2630.01
13 Fukui Bank Ltd2560.011 Hokkaido Coca-Cola Bottling Co Ltd31-
99 Fukuoka Financial Group Inc1,7440.067 Hokkan Holdings Ltd90-
15 Fukushima Bank Ltd33-14 Hokko Chemical Industry Co Ltd1510.01
17 Fukuyama Transporting Co Ltd7470.0214 Hokkoku Bank Ltd3960.01
16 Funai Electric Co Ltd64-61 Hokuetsu Corp2060.01
23 Furukawa Co Ltd2550.0180 Hokuhoku Financial Group Inc7860.03
42 Furukawa Electric Co Ltd1,0510.035 Hokuriku Electric Industry Co Ltd46-
18 Furuno Electric Co Ltd2030.018 Hokuriku Electrical Construction Co Ltd87-
8 Furusato Industries Ltd92-11 Honda Tsushin Kogyo Co Ltd49-
4 Fuso Pharmaceutical Industries Ltd119-14 H-One Co Ltd97-
27 Futaba Corp2260.019 Honeys Holdings Co Ltd80-
38 Futaba Industrial Co Ltd1860.013 Honshu Chemical Industry Co Ltd58-
11 Fuyo General Lease Co Ltd6760.0219 Hoosiers Holdings120-
10 Gecoss Corp93-39 Hosiden Corp3280.01
21 Geo Holdings Corp2600.013 Hosokawa Micron Corp1750.01
8 Geostr Corp25-8 Howa Machinery Ltd63-
1 GL Sciences Inc37-4 Hurxley Corp32-
30 Glory Ltd5960.02119 Hyakugo Bank Ltd3590.01
11 Glosel Co Ltd44-12 Hyakujushi Bank Ltd1890.01
8 Godo Steel Ltd1380.012 Ichiken Co Ltd40-
13 Goldcrest Co Ltd1740.013 Ichikoh Industries Ltd17-
10 Grandy House Corp38-14 Ichinen Holdings Co Ltd1800.01
63 Gree Inc3510.0124 Ichiyoshi Securities Co Ltd107-
37 GS Yuasa Corp8820.033 Icom Inc79-
3 GSI Creos Corp55-2 IDEA Consultants Inc40-
18 G-Tekt Corp2400.012 Ihara Science Corp31-
2 Gun-Ei Chemical Industry Co Ltd58-78 IHI Corp1,1520.04
207 Gunma Bank Ltd6430.0265 Iino Kaiun Kaisha Ltd2390.01
10 Gunze Ltd3570.0116 IJTT Co Ltd73-
64 H2O Retailing Corp3910.014 Ikegami Tsushinki Co Ltd39-
144 Hachijuni Bank Ltd5110.0212 Imagica Group Inc48-
9 Hagihara Industries Inc125-12 Imasen Electric Industrial97-
6 Hagiwara Electric Holdings Co Ltd1320.0127 Inaba Denki Sangyo Co Ltd6250.02
4 Hakudo Co Ltd59-6 Inaba Seisakusho Co Ltd81-
10 Hakuto Co Ltd104-30 Inabata & Co Ltd3940.01
11 Hamakyorex Co Ltd3020.0111 Ines Corp1520.01
20 Hanwa Co Ltd4720.0210 Innotech Corp86-
12 Happinet Corp1640.015 I-O Data Device Inc44-
7 Hard Off Corp Co Ltd42-2 Ise Chemicals Corp46-
10 Harima Chemicals Group Inc94-14 Iseki & Co Ltd1870.01


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
日本 8.23% (続き)日本 8.23% (続き)
38 Isetan Mitsukoshi Holdings Ltd2070.0127 Kanto Denka Kogyo Co Ltd1810.01
4 Ishihara Chemical Co Ltd76-21 Kasai Kogyo Co Ltd69-
26 Ishihara Sangyo Kaisha Ltd1410.013 Katakura & Co-op Agri Corp41-
1 Ishii Iron Works Co Ltd27-18 Katakura Industries Co Ltd2330.01
3 Ishizuka Glass Co Ltd48-12 Kato Sangyo Co Ltd4040.01
5 Isolite Insulating Products Co Ltd20-8 Kato Works Co Ltd77-
25 Itochu Enex Co Ltd2430.014 Kawada Technologies Inc1450.01
3 Itochu-Shokuhin Co Ltd1620.011 Kawagishi Bridge Works Co Ltd23-
84 Itoham Yonekyu Holdings Inc5280.023 Kawai Musical Instruments Manufacturing Co Ltd88-
29 Itoki Corp95-88 Kawasaki Heavy Industries Ltd1,2690.04
15 IwaiCosmo Holdings Inc1900.0131 Kawasaki Kisen Kaisha Ltd5000.02
12 Iwaki & Co Ltd60-1 Kawata Manufacturing Co Ltd11-
2 Iwaki Co Ltd17-2 Keihin Co Ltdnato-Ku Tokyo Japan28-
3 Iwasaki Electric Co Ltd40-69 Keiyo Bank Ltd3030.01
20 Iwatani Corp1,1010.043 Keiyo Co Ltd22-
6 Iwatsu Electric Co Ltd45-3 KEL Corp21-
3 Iwatsuka Confectionery Co Ltd98-125 Kenedix Inc8970.03
136 Iyo Bank Ltd8990.037 Kenko Mayonnaise Co Ltd121-
12 Izumi Co Ltd4230.0129 Kimoto Co Ltd50-
149 J Front Retailing Co Ltd1,1930.0412 Kimura Chemical Plants Co Ltd57-
27 J Trust Co Ltd52-5 Kimura Unity Co Ltd47-
17 Jaccs Co Ltd2990.0168 Kinden Corp1,0930.04
17 Jafco Co Ltd7400.025 King Co Ltd28-
3 Jalux Inc41-2 Kinki Sharyo Co Ltd30-
6 Jamco Corp37-22 Kintetsu World Express Inc4620.02
13 Janome Sewing Machine Co Ltd107-17 Kissei Pharmaceutical Co Ltd3360.01
18 Japan Asia Group Ltd1430.017 Kitagawa Corp82-
7 Japan Asia Investment Co Ltd15-5 Kita-Nippon Bank Ltd105-
23 Japan Aviation Electronics Industry Ltd3030.013 Kitano Construction Corp70-
16 Japan Cash Machine Co Ltd82-51 Kitz Corp2750.01
386 Japan Display Inc1840.0140 Kiyo Bank Ltd6010.02
12 Japan Foundation Engineering Co Ltd54-19 Koa Corp2610.01
1 Japan Oil Transportation Co Ltd30-24 Koatsu Gas Kogyo Co Ltd1750.01
9 Japan Pulp & Paper Co Ltd2900.01178 Kobe Steel Ltd8570.03
43 Japan Securities Finance Co Ltd2050.013 Kobelco Eco-Solutions Co Ltd52-
31 Japan Steel Works Ltd7660.0313 Kohnan Shoji Co Ltd4110.01
27 Japan Transcity Corp1480.017 Kohsoku Corp102-
30 Japan Wool Textile Co Ltd3080.0110 Kojima Co Ltd69-
121 JGC Holdings Corp1,0820.043 Kokusai Co Ltd22-
13 Jimoto Holdings Inc110-47 Kokuyo Co Ltd6050.02
10 JK Holdings Co Ltd78-2 Komaihaltec Inc33-
13 JMS Co Ltd120-20 Komatsu Matere Co Ltd1820.01
5 Joban Kosan Co Ltd63-6 Komatsu Wall Industry Co Ltd95-
7 J-Oil Mills Inc2390.015 Komehyo Co Ltd34-
12 Joshin Denki Co Ltd3070.0120 Komeri Co Ltd5490.02
11 JSP Corp1570.0134 Komori Corp2300.01
128 JTEKT Corp9920.0316 Konaka Co Ltd40-
23 Juki Corp118-11 Kondotec Inc110-
15 Juroku Bank Ltd2790.01291 Konica Minolta Inc9310.03
142 JVCKenwood Corp1920.0121 Konishi Co Ltd3270.01
11 K&O Energy Group Inc1560.0118 Konoike Transport Co Ltd1790.01
13 Kaga Electronics Co Ltd2620.0111 Kosaido Co Ltd69-
17 Kamei Corp1940.016 Koshidaka Holdings Co Ltd22-
12 Kanaden Corp1530.014 Krosaki Harima Corp120-
4 Kanagawa Chuo Kotsu Co Ltd1440.015 KRS Corp71-
20 Kanamoto Co Ltd4180.0125 K's Holdings Corp3100.01
61 Kandenko Co Ltd4630.029 KU Holdings Co Ltd67-
32 Kaneka Corp9490.0321 Kumagai Gumi Co Ltd4820.02
6 Kaneko Seeds Co Ltd90-5 Kunimine Industries Co Ltd49-
43 Kanematsu Corp5000.0212 Kurabo Industries Ltd2150.01
69 Kansai Mirai Financial Group Inc3440.0183 Kuraray Co Ltd8230.03
11 Kansai Super Market Ltd1330.0110 Kureha Corp4950.02


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
日本 8.23% (続き)日本 8.23% (続き)
6 Kurimoto Ltd105-12 Mimasu Semiconductor Industry Co Ltd3090.01
9 Kuriyama Holdings Corp57-11 Ministop Co Ltd1370.01
8 KYB Corp1830.014 Miraial Co Ltd41-
6 Kyodo Printing Co Ltd1620.0145 Mirait Holdings Corp6730.02
16 Kyoei Steel Ltd2330.014 Mitani Corp2860.01
4 Kyokuto Boeki Kaisha Ltd58-21 Mitani Sangyo Co Ltd85-
23 Kyokuto Kaihatsu Kogyo Co Ltd3020.0127 Mito Securities Co Ltd62-
16 Kyokuto Securities Co Ltd114-26 Mitsuba Corp129-
7 Kyokuyo Co Ltd1840.0148 Mitsubishi Gas Chemical Co Inc1,0100.03
16 KYORIN Holdings Inc2940.015 Mitsubishi Kakoki Kaisha Ltd114-
20 Kyoritsu Printing Co Ltd23-6 Mitsubishi Logistics Corp1710.01
31 Kyosan Electric Manufacturing Co Ltd127-72 Mitsubishi Materials Corp1,3590.04
15 Kyowa Electronic Instruments Co Ltd59-96 Mitsubishi Motors Corp1720.01
9 Kyowa Leather Cloth Co Ltd54-22 Mitsubishi Paper Mills Ltd66-
2 Kyudenko Corp66-8 Mitsubishi Pencil Co Ltd105-
151 Kyushu Financial Group Inc7340.029 Mitsubishi Shokuhin Co Ltd2480.01
6 Kyushu Leasing Service Co Ltd35-11 Mitsubishi Steel Manufacturing Co Ltd56-
23 Laox Co Ltd45-16 Mitsuboshi Belting Ltd2450.01
26 Lintec Corp5340.0239 Mitsui E&S Holdings Co Ltd127-
2 Lonseal Corp29-10 Mitsui Matsushima Holdings Co Ltd71-
5 Look Holdings Inc49-31 Mitsui Mining & Smelting Co Ltd8810.03
30 Macnica Fuji Electronics Holdings Inc5860.0270 Mitsui OSK Lines Ltd1,8150.06
19 Macromill Inc119-6 Mitsui Sugar Co Ltd108-
93 Maeda Corp7260.028 Mitsui-Soko Holdings Co Ltd1740.01
16 Maeda Road Construction Co Ltd2500.0121 Mitsuuroko Group Holdings Co Ltd2640.01
4 Maezawa Industries Inc16-19 Mixi Inc5250.02
9 Maezawa Kasei Industries Co Ltd84-5 Miyaji Engineering Group Inc93-
7 Maezawa Kyuso Industries Co Ltd1510.0112 Miyazaki Bank Ltd2550.01
15 Makino Milling Machine Co Ltd5930.025 Miyoshi Oil & Fat Co Ltd60-
3 Mamiya-Op Co Ltd20-19 Mizuho Leasing Co Ltd4950.02
8 Mars Group Holdings Corp125-14 Mizuno Corp2470.01
11 Marubun Corp52-14 Modec Inc2330.01
10 Marudai Food Co Ltd1540.0110 Molitec Steel Co Ltd47-
2 Marufuji Sheet Piling Co Ltd30-116 Monex Group Inc3860.01
21 Maruha Nichiro Corp4380.0113 Money Partners Group Co Ltd25-
4 Maruka Corp83-5 MORESCO Corp44-
3 Maruyama Manufacturing Co Inc35-15 Morinaga Milk Industry Co Ltd7090.02
7 Maruzen CHI Holdings Co Ltd22-1 Moriroku Holdings Co Ltd19-
7 Maruzen Co Ltd118-9 Morita Holdings Corp1480.01
10 Maruzen Showa Unyu Co Ltd3040.0113 Morito Co Ltd79-
11 Matsuda Sangyo Co Ltd1860.013 Mory Industries Inc58-
14 Matsui Construction Co Ltd100-16 MrMax Holdings Ltd1330.01
1 Matsuoka Corp17-10 Mugen Estate Co Ltd50-
18 Max Co Ltd2390.015 Murakami Corp122-
32 Maxell Holdings Ltd3730.0133 Musashi Seimitsu Industry Co Ltd4800.02
5 Maxvalu Tokai Co Ltd115-13 Musashino Bank Ltd1950.01
310 Mazda Motor Corp1,8300.063 Mutoh Holdings Co Ltd35-
581 Mebuki Financial Group Inc1,1900.049 Nachi-Fujikoshi Corp3780.01
27 Megmilk Snow Brand Co Ltd5830.023 Nadex Co Ltd18-
23 Meidensha Corp3990.019 Nafco Co Ltd1940.01
6 Meiji Electric Industries Co Ltd80-6 Nagano Bank Ltd89-
11 Meiji Shipping Co Ltd41-10 Nagano Keiki Co Ltd76-
24 Meisei Industrial Co Ltd1820.0159 Nagase & Co Ltd8110.03
4 Meito Sangyo Co Ltd60-14 Nakabayashi Co Ltd79-
15 Meiwa Corp59-2 Nakamoto Packs Co Ltd33-
9 Meiwa Estate Co Ltd47-3 Nakamuraya Co Ltd97-
4 Melco Holdings Inc126-1 Nakanishi Manufacturing Co Ltd9-
6 Mercuria Investment Co Ltd39-13 Nakano Corp53-
13 Michinoku Bank Ltd1480.0113 Nakayama Steel Works Ltd46-
29 Mie Kotsu Group Holdings Inc129-6 Nakayamafuku Co Ltd29-
16 Mikuni Corp44-2 Nakayo Inc25-
8 Mimaki Engineering Co Ltd38-37 Namura Shipbuilding Co Ltd54-


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
日本 8.23% (続き)日本 8.23% (続き)
15 Nanto Bank Ltd2640.0176 Nippon Sheet Glass Co Ltd2920.01
3 Narasaki Sangyo Co Ltd60-11 Nippon Shokubai Co Ltd5690.02
4 Natori Co Ltd78-25 Nippon Signal Company Ltd2230.01
7 NEC Capital Solutions Ltd118-17 Nippon Soda Co Ltd4400.02
26 Neturen Co Ltd110-11 Nippon Steel Trading Corp3790.01
22 New Japan Chemical Co Ltd35-130 Nippon Suisan Kaisha Ltd5000.02
17 NGK Spark Plug Co Ltd3090.0148 Nippon Thompson Co Ltd1500.01
132 NHK Spring Co Ltd7980.036 Nippon Yakin Kogyo Co Ltd95-
5 Nicca Chemical Co Ltd48-100 Nippon Yusen KK2,1790.07
4 Nice Holdings Inc64-3 Nireco Corp19-
15 Nichia Steel Works Ltd45-4 Nishikawa Rubber Co Ltd61-
8 Nichiban Co Ltd123-34 Nishimatsu Construction Co Ltd6350.02
34 Nichicon Corp3600.014 Nishimoto Co Ltd78-
9 Nichiden Corp2070.0168 Nishi-Nippon Financial Holdings Inc4660.02
13 Nichiha Corp4020.0112 Nishio Rent All Co Ltd2330.01
25 Nichi-iko Pharmaceutical Co Ltd2390.0143 Nissan Shatai Co Ltd3680.01
17 Nichireki Co Ltd2660.0121 Nissan Tokyo Sales Holdings Co Ltd50-
7 Nichirin Co Ltd98-- Nissei Corp5-
1 Nihon Dengi Co Ltd30-10 Nissei Plastic Industrial Co Ltd86-
3 Nihon Denkei Co Ltd34-20 Nissha Co Ltd2630.01
26 Nihon House Holdings Co Ltd59-24 Nisshin Fudosan Co88-
8 Nihon Kagaku Sangyo Co Ltd78-16 Nisshin Oillio Group Ltd4410.02
28 Nihon Nohyaku Co Ltd1430.0196 Nisshinbo Holdings Inc6780.02
50 Nihon Parkerizing Co Ltd5280.0211 Nissin Corp129-
12 Nihon Plast Co Ltd50-29 Nissin Electric Co Ltd3220.01
9 Nihon Tokushu Toryo Co Ltd94-10 Nissin Sugar Co Ltd1770.01
5 Nihon Yamamura Glass Co Ltd39-8 Nissui Pharmaceutical Co Ltd74-
5 Nikkato Corp35-13 Nitta Corp2720.01
26 Nikkiso Co Ltd2440.019 Nitta Gelatin Inc58-
17 Nikko Co Ltd108-11 Nittan Valve Co Ltd21-
34 Nikkon Holdings Co Ltd6690.024 Nittetsu Mining Co Ltd2220.01
169 Nikon Corp1,0480.031 Nitto Fuji Flour Milling Co Ltd69-
1 Nippi Inc45-18 Nitto Kogyo Corp3230.01
30 Nippo Corp7790.037 Nitto Kohki Co Ltd103-
8 Nippon Beet Sugar Manufacturing Co Ltd124-19 Nitto Seiko Co Ltd78-
5 Nippon Carbide Industries Co Inc59-3 NJS Co Ltd62-
6 Nippon Chemical Industrial Co Ltd1440.016 Noda Corp36-
11 Nippon Chemi-Con Corp1620.0153 NOK Corp5840.02
1 Nippon Chemiphar Co Ltd33-70 Nomura Real Estate Holdings Inc1,5150.05
117 Nippon Coke & Engineering Co Ltd79-7 Noritake Co Ltd Japan2040.01
22 Nippon Concrete Industries Co Ltd67-14 Noritsu Koki Co Ltd2900.01
85 Nippon Denko Co Ltd1860.0122 Noritz Corp3380.01
22 Nippon Densetsu Kogyo Co Ltd4490.02172 North Pacific Bank Ltd3840.01
3 Nippon Dry-Chemical Co Ltd46-5 Nozawa Corp29-
53 Nippon Electric Glass Co Ltd1,1490.047 NS United Kaiun Kaisha Ltd86-
2 Nippon Felt Co Ltd9-266 NTN Corp5540.02
6 Nippon Filcon Co Ltd31-20 Oenon Holdings Inc81-
9 Nippon Fine Chemical Co Ltd128-19 Ogaki Kyoritsu Bank Ltd4360.01
30 Nippon Flour Mills Co Ltd4700.024 Ohara Inc56-
11 Nippon Hume Corp85-6 Ohashi Technica Inc72-
42 Nippon Kayaku Co Ltd3640.011 Ohki Healthcare Holdings Co Ltd17-
9 Nippon Koei Co Ltd2350.011 Ohmoto Gumi Co Ltd37-
5 Nippon Koshuha Steel Co Ltd15-15 Oiles Corp2210.01
39 Nippon Light Metal Holdings Co Ltd6620.0211 Oita Bank Ltd2490.01
73 Nippon Paper Industries Co Ltd7850.0326 Okabe Co Ltd2040.01
15 Nippon Pillar Packing Co Ltd2290.012 Okada Aiyon Corp21-
5 Nippon Piston Ring Co Ltd41-1 Okamoto Industries Inc20-
3 Nippon Rietec Co Ltd69-1 Okamoto Machine Tool Works Ltd13-
4 Nippon Road Co Ltd2830.0138 Okamura Corp3400.01
31 Nippon Seiki Co Ltd3310.01103 Okasan Securities Group Inc3650.01
2 Nippon Seisen Co Ltd54-3 Okaya Electric Industries Co Ltd11-
3 Nippon Sharyo Ltd59-52 Oki Electric Industry Co Ltd4530.02


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
日本 8.23% (続き)日本 8.23% (続き)
13 OKUMA Corp7470.023 Sakai Ovex Co Ltd64-
16 Okumura Corp3680.0128 Sakata INX Corp3090.01
6 Okura Industrial Co Ltd100-44 Sala Corp2390.01
10 Okuwa Co Ltd1330.0119 SAMTY Co Ltd3030.01
3 Olympic Group Corp31-7 San Holdings Inc82-
5 ONO Sokki Co Ltd22-14 San ju San Financial Group Inc1770.01
11 Onoken Co Ltd1330.018 San-A Co Ltd3130.01
77 Onward Holdings Co Ltd1350.0145 San-Ai Oil Co Ltd4940.02
3 Organo Corp1470.0117 Sanden Holdings Corp59-
151 Orient Corp1660.016 Sanei Architecture Planning Co Ltd105-
3 Origin Co Ltd45-26 Sangetsu Corp3600.01
9 Osaka Soda Co Ltd2200.0193 San-In Godo Bank Ltd4860.02
10 Osaka Steel Co Ltd111-18 Sanki Engineering Co Ltd1990.01
9 Osaka Titanium Technologies Co Ltd73-13 Sanko Gosei Ltd35-
31 Osaki Electric Co Ltd1620.012 Sanko Metal Industrial Co Ltd53-
12 OSG Corp2120.019 Sankyo Co Ltd2280.01
97 OSJB Holdings Corp2190.0127 Sankyo Seiko Co Ltd113-
2 OUG Holdings Inc54-19 Sankyo Tateyama Inc1410.01
10 Oyo Corp114-16 Sanoyas Holdings Corp24-
32 Pacific Industrial Co Ltd3250.014 Sansei Landic Co Ltd27-
13 Pacific Metals Co Ltd2230.017 Sansei Technologies Inc37-
4 Pack Corp116-7 Sansha Electric Manufacturing Co Ltd51-
4 Paltek Corp17-4 Sanshin Electronics Co Ltd84-
7 Paramount Bed Holdings Co Ltd2640.011 Sanyei Corp23-
16 Paris Miki Holdings Inc45-8 Sanyo Chemical Industries Ltd3350.01
16 Pegasus Sewing Machine Manufacturing Co Ltd45-6 Sanyo Denki Co Ltd2820.01
18 Piolax Inc2720.016 Sanyo Engineering & Construction Inc40-
70 Press Kogyo Co Ltd2020.018 Sanyo Housing Nagoya Co Ltd61-
20 Pressance Corp3310.019 Sanyo Shokai Ltd45-
183 Prospect Co Ltd63-16 Sanyo Special Steel Co Ltd1930.01
21 PS Mitsubishi Construction Co Ltd116-13 Sanyo Trading Co Ltd125-
12 Punch Industry Co Ltd52-36 Sapporo Holdings Ltd6630.02
4 Qol Holdings Co Ltd44-9 Sata Construction Co Ltd38-
19 Raiznext Corp2080.0110 Sato Shoji Corp100-
7 Rasa Corp57-7 Satori Electric Co Ltd50-
3 Rasa Industries Ltd63-18 Sawada Holdings Co Ltd1540.01
12 Raysum Co Ltd115-5 Sawai Pharmaceutical Co Ltd2160.01
1 Regal Corp10-3 Saxa Holdings Inc47-
98 Rengo Co Ltd7450.023 SBI Insurance Group Co Ltd41-
48 Resorttrust Inc7400.0221 Scroll Corp1540.01
14 Restar Holdings Corp3030.011 SEC Carbon Ltd47-
5 Retail Partners Co Ltd77-1 Secom Joshinetsu Co Ltd32-
4 Rhythm Watch Co Ltd23-60 Seibu Holdings Inc5970.02
6 Riberesute Corp41-7 Seika Corp88-
11 Ricoh Leasing Co Ltd3080.0118 Seikagaku Corp1690.01
10 Right On Co Ltd59-23 Seikitokyu Kogyo Co Ltd1750.01
7 Riken Corp1470.0118 Seiko Holdings Corp2360.01
5 Riken Keiki Co Ltd1450.018 Seiko PMC Corp57-
29 Riken Technos Corp125-79 Seino Holdings Co Ltd1,0980.04
3 Riken Vitamin Co Ltd33-16 Seiren Co Ltd2290.01
6 Riso Kagaku Corp73-17 Sekisui Jushi Corp3490.01
1 Rix Corp21-17 Sekisui Plastics Co Ltd90-
2 Rokko Butter Co Ltd34-68 Senko Group Holdings Co Ltd6290.02
8 Roland DG Corp1320.015 Senshu Electric Co Ltd1460.01
18 Ryobi Ltd2150.01146 Senshu Ikeda Holdings Inc2120.01
10 Ryoden Corp1500.0122 Senshukai Co Ltd70-
14 Ryosan Co Ltd2410.012 Shibaura Electronics Co Ltd57-
12 S Foods Inc3460.013 Shibaura Mechatronics Corp93-
4 S LINE CO Ltd35-7 Shibusawa Warehouse Co Ltd1550.01
15 Sac's Bar Holdings Inc76-24 Shiga Bank Ltd5510.02
10 Sakai Chemical Industry Co Ltd1880.014 Shikibo Ltd43-
3 Sakai Heavy Industries Ltd67-26 Shikoku Bank Ltd1770.01


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
日本 8.23% (続き)日本 8.23% (続き)
23 Shikoku Chemicals Corp2660.01108 Sumitomo Rubber Industries Ltd9560.03
12 Shima Seiki Manufacturing Ltd1980.017 Sumitomo Seika Chemicals Co Ltd2820.01
27 Shimachu Co Ltd1,4200.0538 Sumitomo Warehouse Co Ltd4950.02
8 Shimizu Bank Ltd1360.0120 Sun Frontier Fudousan Co Ltd1720.01
7 Shimojima Co Ltd85-10 Suncall Corp39-
6 Shin Nippon Air Technologies Co Ltd1370.0110 Sun-Wa Technos Corp87-
5 Shinagawa Refractories Co Ltd110-2 Suzuden Corp22-
5 Shindengen Electric Manufacturing Co Ltd118-8 Suzuki Co Ltd70-
31 Shin-Etsu Polymer Co Ltd2760.0118 SWCC Showa Holdings Co Ltd2780.01
12 Shinko Shoji Co Ltd90-17 T Hasegawa Co Ltd3290.01
29 Shinmaywa Industries Ltd2270.015 T RAD Co Ltd62-
19 Shinnihon Corp1580.0115 T&K Toka Co Ltd122-
12 Shinoken Group Co Ltd1340.0111 Tachibana Eletech Co Ltd1740.01
102 Shinsei Bank Ltd1,2020.048 Tachikawa Corp97-
2 Shinsho Corp36-24 Tachi-S Co Ltd2610.01
1 Shinwa Co Ltd14-56 Tadano Ltd4380.01
10 Shizuki Electric Co Inc51-11 Taihei Dengyo Kaisha Ltd2510.01
59 Shizuoka Bank Ltd4170.0169 Taiheiyo Cement Corp1,8390.06
30 Shizuoka Gas Co Ltd2810.016 Taiheiyo Kouhatsu Inc36-
7 Shobunsha Publications Inc32-13 Taiho Kogyo Co Ltd75-
7 Shofu Inc129-15 Taikisha Ltd4100.01
82 Showa Denko KK1,5230.056 Taiko Bank Ltd72-
7 Showa Sangyo Co Ltd2090.014 Taisei Lamick Co Ltd103-
1 Showa Shinku Co Ltd14-1 Taisei Oncho Co Ltd13-
3 Sigma Koki Co Ltd31-4 Takachiho Koheki Co Ltd44-
19 Siix Corp2790.0110 Takamatsu Construction Group Co Ltd1910.01
6 Sinanen Holdings Co Ltd1670.011 Takamatsu Machinery Co Ltd4-
16 Sinfonia Technology Co Ltd2060.015 Takano Co Ltd30-
11 Sinko Industries Ltd1770.018 Takaoka Toko Co Ltd104-
33 Sintokogio Ltd2220.0154 Takara Leben Co Ltd1530.01
6 SK-Electronics Co Ltd75-22 Takara Standard Co Ltd2890.01
99 SKY Perfect JSAT Holdings Inc4460.027 Takasago International Corp1670.01
3 SMK Corp90-18 Takasago Thermal Engineering Co Ltd2420.01
20 SNT Corp35-3 Takashima & Co Ltd44-
12 Soda Nikka Co Ltd62-86 Takashimaya Co Ltd6620.02
31 Sodick Co Ltd2490.017 Take And Give Needs Co Ltd41-
5 Soft99 Corp44-5 Takebishi Corp70-
763 Sojitz Corp1,6660.0514 Takeei Corp1700.01
6 Soken Chemical & Engineering Co Ltd101-16 Takeuchi Manufacturing Co Ltd3710.01
7 Soshin Electric Co Ltd32-- Takigami Steel Construction Co Ltd14-
2 Sotoh Co Ltd20-4 Takihyo Co Ltd68-
9 Space Co Ltd66-5 Takisawa Machine Tool Co Ltd44-
21 Space Value Holdings Co Ltd123-10 Tamron Co Ltd1590.01
4 SPK Corp45-49 Tamura Corp2530.01
11 St Marc Holdings Co Ltd1520.014 Tanabe Engineering Corp33-
11 Star Micronics Co Ltd1520.0129 Tatsuta Electric Wire and Cable Co Ltd1750.01
5 Starzen Co Ltd1990.0112 Tayca Corp1630.01
2 Stella Chemifa Corp71-13 TBK Co Ltd56-
3 Step Co Ltd45-1 Techno Associe Co Ltd11-
1 Subaru Enterprise Co Ltd62-3 Techno Medica Co Ltd41-
7 Sugimoto & Co Ltd1660.015 Techno Ryowa Ltd45-
18 Sumida Corp1800.017 Techno Smart Corp64-
2 Suminoe Textile Co Ltd50-99 Teijin Ltd1,6810.06
37 Sumiseki Holdings Inc42-11 Teikoku Sen-I Co Ltd2650.01
18 Sumitomo Bakelite Co Ltd5470.026 Teikoku Tsushin Kogyo Co Ltd61-
11 Sumitomo Densetsu Co Ltd2830.0110 Tekken Corp1800.01
75 Sumitomo Forestry Co Ltd1,3580.0413 Tenma Corp2290.01
73 Sumitomo Heavy Industries Ltd1,5760.054 Tenox Corp28-
102 Sumitomo Mitsui Construction Co Ltd4200.017 Teraoka Seisakusho Co Ltd24-
20 Sumitomo Osaka Cement Co Ltd5800.0210 Tigers Polymer Corp39-
2 Sumitomo Precision Products Co Ltd44-12 Toa Corp (non-voting rights)2300.01
27 Sumitomo Riko Co Ltd1340.0116 Toa Corp (voting rights)1350.01


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
日本 8.23% (続き)日本 8.23% (続き)
4 Toa Oil Co Ltd79-3 Totech Corp82-
4 Toa Road Corp127-2 Totoku Electric Co Ltd37-
3 Toabo Corp13-6 Tottori Bank Ltd72-
65 Toagosei Co Ltd7810.0325 Towa Bank Ltd1540.01
2 Toba Inc37-3 Towa Corp50-
16 Tobishima Corp1640.0157 Toyo Construction Co Ltd2180.01
22 TOC Co Ltd1380.0114 Toyo Corp1430.01
74 Tochigi Bank Ltd129-5 Toyo Denki Seizo KK50-
118 Toda Corp6940.0219 Toyo Engineering Corp63-
3 Toda Kogyo Corp58-26 Toyo Ink SC Holdings Co Ltd4820.02
6 Toenec Corp2200.016 Toyo Kanetsu KK118-
2 Togami Electric Manufacturing Co Ltd35-5 Toyo Logistics Co Ltd13-
129 Toho Bank Ltd2790.0112 Toyo Machinery & Metal Co Ltd46-
5 Toho Co (Wholesale)105-47 Toyo Securities Co Ltd60-
29 Toho Holdings Co Ltd5330.0285 Toyo Seikan Group Holdings Ltd8150.03
17 Toho Titanium Co Ltd113-10 Toyo Tanso Co Ltd1620.01
8 Toho Zinc Co Ltd1580.0158 Toyo Tire Corp9110.03
8 Tohoku Bank Ltd77-4 Toyo Wharf & Warehouse Co Ltd56-
2 Tohoku Steel Co Ltd30-54 Toyobo Co Ltd6740.02
12 Tohokushinsha Film Corp74-37 Toyoda Gosei Co Ltd9940.03
2 Tohto Suisan Co Ltd70-37 Toyota Boshoku Corp4850.02
74 Tokai Carbon Co Ltd8150.0318 TPR Co Ltd2280.01
2 Tokai Lease Co Ltd31-2 Trinity Industrial Corp13-
33 Tokai Rika Co Ltd5080.0222 TS Tech Co Ltd6380.02
120 Tokai Tokyo Financial Holdings Inc3530.0141 TSI Holdings Co Ltd79-
5 Token Corp3560.0131 Tsubaki Nakashima Co Ltd2580.01
6 Tokushu Tokai Paper Co Ltd3020.0119 Tsubakimoto Chain Co4600.02
34 Tokuyama Corp7180.023 Tsubakimoto Kogyo Co Ltd101-
52 Tokyo Dome Corp6670.023 Tsudakoma Corp27-
16 Tokyo Energy & Systems Inc1400.0112 Tsukada Global Holdings Inc31-
9 Tokyo Keiki Inc76-12 Tsukishima Kikai Co Ltd1380.01
12 Tokyo Kiraboshi Financial Group Inc1340.0166 Tsukuba Bank Ltd123-
1 Tokyo Printing Ink Manufacturing Co Ltd11-11 Tsurumi Manufacturing Co Ltd1820.01
5 Tokyo Radiator Manufacturing Co Ltd22-3 Tsutsumi Jewelry Co Ltd65-
2 Tokyo Rakutenchi Co Ltd83-1 Tsuzuki Denki Co Ltd18-
11 Tokyo Rope Manufacturing Co Ltd78-17 TV Asahi Holdings Corp2750.01
14 Tokyo Sangyo Co Ltd73-4 Tv Tokyo Holdings Corp99-
47 Tokyo Steel Manufacturing Co Ltd2940.0115 TYK Corp49-
109 Tokyo Tatemono Co Ltd1,4900.0525 UACJ Corp4250.01
7 Tokyo Tekko Co Ltd1410.0167 Ube Industries Ltd1,1300.04
5 Tokyo Theatres Co Inc60-2 Ueki Corp39-
67 Tokyu Construction Co Ltd3010.0122 Ulvac Inc8880.03
348 Tokyu Fudosan Holdings Corp1,6790.064 Uniden Holdings Corp91-
2 Tokyu Recreation Co Ltd80-3 UNIMAT Retirement Community Co Ltd30-
28 Toli Corp68-6 Union Tool Co1700.01
5 Tomato Bank Ltd55-26 Unipres Corp2220.01
2 Tomen Devices Corp67-8 UNITED Inc118-
18 Tomoe Corp73-35 United Super Markets Holdings Inc3650.01
5 Tomoe Engineering Co Ltd87-18 Universal Entertainment Corp3560.01
3 Tomoegawa Co Ltd24-43 Ushio Inc5340.02
8 Tomoku Co Ltd1360.0111 Utoc Corp50-
88 TOMONY Holdings Inc2820.0122 Valor Holdings Co Ltd5480.02
4 Tonami Holdings Co Ltd2250.014 Vertex Corp65-
32 Toppan Forms Co Ltd3010.0121 Vital KSK Holdings Inc1750.01
24 Topre Corp3010.0137 VT Holdings Co Ltd1330.01
11 Topy Industries Ltd112-24 Wacoal Holdings Corp4530.02
4 Torex Semiconductor Ltd53-9 Wakachiku Construction Co Ltd103-
8 Torigoe Co Ltd84-18 Wakita & Co Ltd2020.01
8 Torii Pharmaceutical Co Ltd2360.0110 Warabeya Nichiyo Holdings Co Ltd1390.01
13 Torishima Pump Manufacturing Co Ltd107-7 Watts Co Ltd51-
23 Tosei Corp2550.014 Wavelock Holdings Co Ltd28-
14 Toshiba Machine Co Ltd3030.014 Wood One Co Ltd46-


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
日本 8.23% (続き)オランダ 0.64% (続き)
8 World Co Ltd94-64 Ordina NV2230.01
20 Xebio Holdings Co Ltd1440.0198 SBM Offshore NV1,8180.06
7 YAC Holdings Co Ltd61-63 Signify NV2,6520.08
7 Yachiyo Industry Co Ltd36-11 Sligro Food Group NV2410.01
1 Yagi & Co Ltd11-- SNS REAAL NV--
20 Yahagi Construction Co Ltd1750.018 Van Lanschot Kempen NV1980.01
5 Yaizu Suisankagaku Industry Co Ltd46-19,6770.64
21 Yamabiko Corp2890.01ニュージーランド 0.21%
18 Yamagata Bank Ltd2070.01341 Air New Zealand Ltd4360.02
118 Yamaguchi Financial Group Inc7290.02152 Arvida Group Ltd1840.01
22 Yamanashi Chuo Bank Ltd1560.01164 Chorus Ltd9450.03
40 Yamashina Corp26-8 Comvita Ltd17-
4 Yamatane Corp55-363 Fletcher Building Ltd1,4240.05
12 Yamato Corp87-308 Heartland Group Holdings Ltd3130.01
11 Yamato International Inc34-349 Kathmandu Holdings Ltd2990.01
26 Yamato Kogyo Co Ltd6510.025 New Zealand King Salmon Investments Ltd6-
3 Yamaya Corp54-117 New Zealand Refining Co Ltd48-
2 Yamazawa Co Ltd28-72 NZME Ltd36-
35 Yamazen Corp3360.0177 Oceania Healthcare Ltd70-
11 Yashima Denki Co Ltd96-11 PGG Wrightson Ltd23-
11 Yasuda Logistics Corp105-26 Sanford Ltd93-
21 Yellow Hat Ltd3200.0122 Scales Corp Ltd74-
16 Yodogawa Steel Works Ltd3110.0116 Skellerup Holdings Ltd35-
20 Yokogawa Bridge Holdings Corp3760.01884 SKY Network Television Ltd1040.01
34 Yokohama Reito Co Ltd2790.01360 SKYCITY Entertainment Group Ltd7700.03
71 Yokohama Rubber Co Ltd1,0270.0365 Steel & Tube Holdings Ltd34-
5 Yomeishu Seizo Co Ltd90-119 Summerset Group Holdings Ltd8870.03
2 Yomiuri Land Co Ltd104-13 Synlait Milk Ltd49-
3 Yondenko Corp72-55 Tourism Holdings Ltd99-
13 Yorozu Corp1410.01155 Tower Ltd66-
15 Yotai Refractories Co Ltd116-14 Vista Group International Ltd17-
2 Yuasa Funashoku Co Ltd55-46 Warehouse Group Ltd83-
11 Yuasa Trading Co Ltd3480.01140 Z Energy Ltd3140.01
2 Yuken Kogyo Co Ltd29-6,4260.21
30 Yurtec Corp1880.01ノルウェー 0.35%
4 Yushin Precision Equipment Co Ltd30-137 Akastor ASA117-
8 Yushiro Chemical Industry Co Ltd84-185 Aker Solutions ASA3000.01
3 Yutaka Giken Co Ltd52-44 American Shipping Co ASA140-
3 Zaoh Co Ltd43-60 Austevoll Seafood ASA5460.02
2 Zenitaka Corp79-44 Avance Gas Holding Ltd1970.01
3 Zuiko Corp29-91 Axactor SE94-
254,4358.23252 B2Holding ASA1910.01
オランダ 0.64%17 Bonheur ASA4390.01
16 Aalberts NV7070.0234 Borr Drilling Ltd26-
54 ABN AMRO Bank NV5550.0237 BW Energy Ltd87-
2 Accell Group NV48-82 BW LPG Ltd5210.02
655 Aegon NV2,4230.0897 BW Offshore Ltd3740.01
31 APERAM SA1,1700.04442 DNO ASA2950.01
43 Arcadis NV1,3170.0433 FLEX LNG Ltd2540.01
1 ASM International NV2050.0165 Frontline Ltd4160.01
90 ASR Nederland NV3,3380.119 Golden Ocean Group Ltd38-
50 Boskalis Westminster1,1510.0446 Hoegh LNG Holdings Ltd71-
13 Brunel International NV116-1,653 Kongsberg Automotive ASA54-
26 ForFarmers NV167-51 Norwegian Finans Holding ASA4070.01
51 Fugro NV2780.0162 Ocean Yield ASA1820.01
16 Heijmans NV181-108 Odfjell Drilling Ltd1790.01
3 Hunter Douglas NV1890.014 Odfjell SE12-
14 Intertrust NV2340.0173 Otello Corp ASA1850.01
10 Kendrion NV1830.01370 PGS ASA1730.01
175 Koninklijke BAM Groep NV3760.0159 Sbanken ASA4720.02
35 Koninklijke Vopak NV1,8430.0627 Selvaag Bolig ASA155-
6 Lucas Bols BV64-106 SpareBank 1 SR-Bank ASA1,0570.03


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
ノルウェー 0.35% (続き)シンガポール 0.26% (続き)
22 Stolt-Nielsen Ltd2350.01469 Oxley Holdings Ltd83-
129 Storebrand ASA9100.03101 Penguin International Ltd35-
113 Subsea 7 SA1,0710.0392 QAF Ltd61-
62 TGS NOPEC Geophysical Co ASA8570.03373 Raffles Education Corp Ltd36-
41 Treasure ASA75-431 Sembcorp Industries Ltd5840.02
79 Wallenius Wilhelmsen ASA1890.012,118 Sembcorp Marine Ltd2540.01
10 Wilh Wilhelmsen Holding ASA (voting rights)1710.01107 SHS Holdings Ltd13-
142 XXL ASA3130.0111 SIA Engineering Co Ltd16-
10,8030.35596 SIIC Environment Holdings Ltd77-
ポルトガル 0.09%508 Sinarmas Land Ltd69-
4,985 Banco Comercial Portugues SA7060.0276 Sing Holdings Ltd21-
961 Banco Espirito Santo SA--32 Sing Investments & Finance Ltd31-
13 EDP Renovaveis SA2810.01562 Singapore Post Ltd3000.01
123 Navigator Co SA3650.01742 Singapore Press Holdings Ltd6540.02
147 NOS SGPS SA5640.02176 Stamford Land Corp Ltd43-
18 Semapa-Sociedade de Investimento e Gestao1910.0121 Straits Trading Co Ltd28-
681 Sonae SGPS SA5480.0243 Sunningdale Tech Ltd49-
2,6550.09137 Swiber Holdings Ltd2-
シンガポール 0.26%295 Tuan Sing Holdings Ltd66-
369 Accordia Golf Trust6-90 United Industrial Corp Ltd1530.01
48 Amara Holdings Ltd13-127 UOB-Kay Hian Holdings Ltd1340.01
174 Banyan Tree Holdings Ltd35-137 UOL Group Ltd7460.03
154 Boustead Singapore Ltd90-64 Valuetronics Holdings Ltd28-
78 Bukit Sembawang Estates Ltd2310.01194 Wing Tai Holdings Ltd2680.01
148 China Aviation Oil Singapore Corp Ltd1150.011,017 Yangzijiang Shipbuilding Holdings Ltd6610.02
186 China Sunsine Chemical Holdings Ltd70-8,1570.26
197 Chip Eng Seng Corp Ltd58-スペイン 0.58%
96 Chuan Hup Holdings Ltd14-11 Acciona SA1,4050.05
649 COSCO Shipping International Singapore Co Ltd1300.0183 Acerinox SA8630.03
223 DMX Technologies Group Ltd--12 ACS Actividades de Construccion y Servicios SA3900.01
1,895 Ezion Holdings Ltd11-9 Adveo Group International SA1-
1,374 Ezra Holdings Ltd2-59 Applus Services SA5700.02
83 Far East Orchard Ltd64-51 Atresmedia Corp de Medios de Comunicacion SA1810.01
106 Food Empire Holdings Ltd47-6 Azkoyen SA36-
7 Fraser and Neave Ltd7-3,512 Banco de Sabadell SA1,3690.04
217 Frasers Property Ltd1980.01692 Bankia SA1,1890.04
207 Fu Yu Corp Ltd38-381 Bankinter SA1,8880.06
64 GK Goh Holdings Ltd35-11 Construcciones y Auxiliar de Ferrocarriles SA4720.02
229 GL Ltd980.0138 Ebro Foods SA8910.03
3,366 Golden Agri-Resources Ltd3900.0145 eDreams ODIGEO SA2040.01
189 GuocoLand Ltd2250.0112 Elecnor SA140-
152 Hanwell Holdings Ltd33-44 Enagas SA1,0710.04
47 Haw Par Corp Ltd3560.01102 Ence Energia y Celulosa SA3540.01
23 Hiap Hoe Ltd10-45 Ercros SA119-
73 Ho Bee Land Ltd1290.0158 Euskaltel SA6280.02
223 Hong Fok Corp Ltd1160.0118 Fluidra SA3990.01
113 Hong Leong Asia Ltd55-10 Gestamp Automocion SA42-
133 Hong Leong Finance Ltd2350.0144 Global Dominion Access SA1830.01
36 Hotel Grand Central Ltd27-21 Grupo Catalana Occidente SA6780.02
47 Hour Glass Ltd27-6 Iberpapel Gestion SA125-
2,021 Hutchison Port Holdings Trust3790.011,019 Liberbank SA3080.01
359 Hyflux Ltd5-602 Mapfre SA1,1550.04
189 Indofood Agri Resources Ltd41-46 Melia Hotels International SA2940.01
153 Japfa Ltd84-8 Miquel y Costas & Miquel SA1420.01
89 KSH Holdings Ltd22-3 Neinor Homes SA40-
147 Lian Beng Group Ltd46-88 Obrascon Huarte Lain SA75-
72 Low Keng Huat Singapore Ltd21-74 Quabit Inmobiliaria SA36-
33 Lum Chang Holdings Ltd9-7 Renta Corp Real Estate SA17-
176 Metro Holdings Ltd90-169 Repsol SA1,6190.05
828 Midas Holdings Ltd22-244 Sacyr SA5710.02
58 Olam International Ltd66-4 Sacyr SA11-
111 OUE Ltd95-62 Tubacex SA105-


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
スペイン 0.58% (続き)スウェーデン 1.13% (続き)
362 Unicaja Banco SA2850.01111 Peab AB1,2030.04
39 Vocento SA33-85 Pricer AB3640.01
17,8890.584 Proact IT Group AB103-
スウェーデン 1.13%135 Ratos AB5810.02
53 AcadeMedia AB5230.0236 Recipharm AB7240.02
31 Adapteo Oyj3270.0177 Resurs Holding AB3850.01
58 AF POYRY AB1,6380.0556 Rottneros AB55-
20 Alimak Group AB2830.0114 Saab AB3620.01
20 Ambea AB1340.011,260 SAS AB2410.01
11 Arise AB53-29 Scandi Standard AB2270.01
132 Arjo AB9200.0326 Securitas AB4230.01
59 Attendo AB3090.017 Semcon AB59-
3 Beijer Alma AB46-4 SkiStar AB48-
13 Beijer Electronics Group AB62-106 SSAB AB, Class A3340.01
21 Bergman & Beving AB2170.01286 SSAB AB, Class B7870.03
2 Besqab AB33-6 Systemair AB1750.01
74 Betsson AB6360.02154 Trelleborg AB3,1860.10
55 Bilia AB6230.026 VBG Group AB91-
120 BillerudKorsnas AB1,9340.0634,9951.13
57 Bonava AB4940.02スイス 1.75%
30 Bravida Holding AB3620.0159 Adecco Group AG3,5460.12
17 Bufab AB3190.019 Allreal Holding AG1,8650.06
7 Bulten AB67-3 ALSO Holding AG6470.02
32 Bure Equity AB1,0280.03117 ams AG2,9990.10
59 Byggmax Group AB3230.0133 Arbonia AG4660.02
21 Cavotec SA49-614 Aryzta AG4510.02
9 Clas Ohlson AB90-2 Autoneum Holding AG4230.01
154 Cloetta AB4340.0120 Baloise Holding AG3,4860.11
16 Collector AB37-2 Banque Cantonale de Geneve2770.01
3 Coor Service Management Holding AB27-2 Banque Cantonale Vaudoise2400.01
150 Dometic Group AB1,8900.062 Bell Food Group AG4640.02
15 Doro AB76-6 Bellevue Group AG1820.01
22 Duni AB2540.013 Berner Kantonalbank AG8080.03
39 Dustin Group AB2690.016 Bobst Group SA3240.01
8 Eastnine AB110-4 Bucher Industries AG1,8620.06
10 Elanders AB96-4 Calida Holding AG115-
19 Eltel AB49-- Carlo Gavazzi Holding AG66-
13 Enea AB2560.011 Cicor Technologies Ltd74-
11 Fagerhult AB59-1 Cie Financiere Tradition SA128-
18 GHP Specialty Care AB43-19 Clariant AG3840.01
58 Granges AB6380.021 Conzzeta AG1,0260.03
37 Haldex AB1690.0123 DKSH Holding AG1,5610.05
98 Hexpol AB1,0220.03- Dottikon Es Holding AG92-
55 Hoist Finance AB2330.0141 Dufry AG2,3030.08
3 Holmen AB1400.0165 EFG International AG4230.01
24 Humana AB1490.01- Emmi AG3270.01
1 IAR Systems Group AB23-3 Energiedienst Holding AG90-
44 International Petroleum Corp92-179 Evolva Holding SA40-
46 Intrum AB1,1990.042 Feintool International Holding AG95-
42 Inwido AB5190.0212 Flughafen Zurich AG1,9690.06
36 JM AB1,1630.0487 GAM Holding AG1880.01
10 KNOW IT AB3010.012 Georg Fischer AG2,5390.08
47 Lindab International AB8210.0324 Helvetia Holding AG2,3860.08
47 Loomis AB1,3450.041 HOCHDORF Holding AG44-
38 Mekonomen AB3970.018 Huber & Suhner AG6190.02
36 Millicom International Cellular SA, SDR1,4510.0514 Implenia AG3560.01
40 Modern Times Group MTG AB5880.023 Ina Invest Holding AG56-
17 Momentum Group AB2440.012 Investis Holding SA1870.01
26 New Wave Group AB1530.0121 Julius Baer Group Ltd1,2310.04
73 Nobia AB5040.023 Jungfraubahn Holding AG5010.02
13 Nordic Waterproofing Holding AB2000.0120 Kudelski SA78-
13 Pandox AB2260.0114 Landis&Gyr Group AG9900.03


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
スイス 1.75% (続き)英国 5.06% (続き)
3 Lastminute.com NV94-220 C&C Group PLC6430.02
8 Liechtensteinische Landesbank AG4890.02485 Cairn Energy PLC1,0300.03
2 Luzerner Kantonalbank AG9180.0336 CareTech Holdings PLC2230.01
4 Meier Tobler Group AG61-31 Carr's Group PLC52-
- Metall Zug AG2180.016 Castings PLC28-
273 Meyer Burger Technology AG119-780 Centamin PLC1,1820.04
3 Mikron Holding AG16-17 Centaur Media PLC6-
4 Mobimo Holding AG1,2570.0486 Central Asia Metals PLC2480.01
129 OC Oerlikon Corp AG1,2180.043,367 Centrica PLC1,9550.06
5 Orascom Development Holding AG53-204 Chemring Group PLC6680.02
- Orell Fuessli Holding AG29-82 Chesnara PLC2950.01
- Phoenix Mecano AG2330.01654 Cineworld Group PLC4990.02
1 Plazza AG1920.01130 Circassia Pharmaceuticals PLC51-
3 Rieter Holding AG2860.0118 Clarkson PLC6130.02
345 Schmolz & Bickenbach AG93-19 Clinigen Healthcare Ltd1640.01
1 Schweiter Technologies AG1,1040.04100 Close Brothers Group PLC1,7200.06
2 St Galler Kantonalbank AG8810.0385 CMC Markets PLC4410.01
12 Sulzer AG1,1910.04184 Costain Group PLC139-
1 Swatch Group AG3340.01226 Countryside Properties PLC1,2770.04
2 Swatch Group AG90-193 Crest Nicholson Holdings PLC7540.02
1 Swiss Life Holding AG6320.0298 Daily Mail & General Trust PLC8890.03
30 Swiss Prime Site AG2,7060.0955 Dart Group PLC1,0150.03
3 Swissquote Group Holding SA2720.01648 Debenhams PLC--
2 Tamedia AG1720.01163 DFS Furniture PLC4910.02
1 Thurgauer Kantonalbank87-3 Dialight PLC9-
1 Tornos Holding AG7-351 Direct Line Insurance Group PLC1,3780.04
4 u-blox Holding AG2560.0145 DiscoverIE Group PLC3820.01
10 Valiant Holding AG9530.0329 Diversified Gas & Oil PLC42-
3 Valora Holding AG5250.02718 Dixons Carphone PLC1,0530.03
1 Vaudoise Assurances Holding SA3540.01296 Drax Group PLC1,2940.04
9 Vetropack Holding AG6060.02568 DS Smith PLC2,4850.08
18 Vontobel Holding AG1,3500.0496 easyJet PLC1,0240.03
3 VP Bank AG3270.01485 Elementis PLC7750.03
1 V-ZUG Holding AG128-1,118 EnQuest PLC1700.01
1 Walliser Kantonalbank116-288 Equiniti Group PLC4180.01
6 Zehnder Group AG3070.013 Euromoney Institutional Investor PLC44-
- Zug Estates Holding AG3200.01225 Ferrexpo PLC6310.02
- Zuger Kantonalbank AG3040.01194 Filtrona PLC7900.03
54,2061.75951 Firstgroup PLC7670.03
英国 5.06%195 Foxtons Group PLC106-
22 AG Barr PLC148-19 Fuller Smith & Turner PLC1680.01
160 Aggreko PLC1,1850.0482 Galliford Try Holdings PLC118-
214 Alliance Pharma PLC2120.0149 Gamesys Group PLC7250.02
68 Allied Minds PLC34-96 Gem Diamonds Ltd61-
137 Anglo Pacific Group PLC1850.0169 Genel Energy PLC124-
13 Anglo-Eastern Plantations PLC107-27 Georgia Capital PLC1690.01
51 Arrow Global Group PLC116-21 Go-Ahead Group PLC2290.01
342 Babcock International Group PLC1,5330.05147 Grafton Group PLC1,6670.05
46 Bakkavor Group PLC50-414 Grainger PLC1,5530.05
487 Balfour Beatty PLC1,6450.05167 Gulf Keystone Petroleum Ltd2040.01
32 Bank of Georgia Group PLC4820.02363 GVC Holdings PLC4,9890.16
228 Barratt Developments PLC1,8660.0682 Gym Group PLC2310.01
22 Beazley PLC103-12 H&T Group PLC42-
39 Begbies Traynor Group PLC45-158 Halfords Group PLC5600.02
90 Bellway PLC3,3630.1164 Headlam Group PLC3060.01
58 Berkeley Group Holdings PLC3,5350.1191 Helical PLC4450.01
76 Biffa PLC2260.01195 Hochschild Mining PLC5570.02
60 Bloomsbury Publishing PLC2100.0113 Horizon Discovery Group PLC34-
125 Bodycote PLC1,1760.0439 Hostelworld Group PLC41-
52 Boot Henry PLC1770.01108 Hunting PLC2500.01
14 Braemar Shipping Services PLC28-272 Ibstock PLC6990.02
127 Burford Capital Ltd1,2630.04265 Inchcape PLC2,1120.07


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
英国 5.06% (続き)英国 5.06% (続き)
345 Indivior PLC4660.02352 QinetiQ Group PLC1,3700.04
79 Informa PLC5560.0227 Quilter PLC50-
192 International Personal Finance PLC2250.01138 Rank Group PLC2640.01
486 Investec PLC1,1970.04283 Reach PLC5230.02
480 IP Group PLC5500.02166 Redrow PLC1,1440.04
10 IQE PLC9-352 Restaurant Group PLC3020.01
1,242 J Sainsbury PLC3,4670.1116 Rhi Magnesita NV6940.02
5 James Fisher & Sons PLC69-21 Ricardo PLC97-
233 John Laing Group PLC9810.0343 Rockhopper Exploration PLC4-
453 John Wood Group PLC1,7720.06644 Royal Mail PLC2,6100.08
69 Jupiter Fund Management PLC2210.01195 RPS Group PLC1940.01
751 Just Group PLC5570.02183 RSA Insurance Group PLC1,6260.05
143 Kazakhmys PLC1,2030.0478 RWS Holdings PLC5850.02
49 Keller Group PLC4090.011 S&U PLC17-
118 Kier Group PLC109-57 Saga PLC1880.01
15 Kin & Carta PLC22-101 Savannah Petroleum PLC12-
1,507 Kingfisher PLC5,4730.1845 Savills PLC5520.02
216 Lamprell PLC114-77 Scapa Group PLC1620.01
39 Lancashire Holdings Ltd3840.0111 ScS Group PLC27-
226 Lookers PLC47-329 Senior PLC3150.01
54 LSL Property Services PLC1660.01212 Severfield PLC1900.01
1,550 M&G PLC3,8470.12692 Shanks Group PLC3070.01
925 Man Group PLC1,4470.05643 SIG PLC2790.01
1,310 Marks & Spencer Group PLC2,1800.07484 Signature Aviation PLC1,5200.05
522 Marston's PLC4230.0114 Smart Metering Systems PLC123-
1 McBride PLC1-48 Spectris PLC1,7080.06
317 McCarthy & Stone PLC4980.02392 Speedy Hire PLC3630.01
85 Mears Group PLC1730.01181 Spire Healthcare Group PLC3210.01
291 Mediclinic International PLC1,0770.04129 Spirent Communications PLC4390.01
431 Meggitt PLC2,2270.0740 Sportech PLC15-
1,369 Melrose Industries PLC2,7400.09147 Sports Direct International PLC8180.03
165 Micro Focus International PLC7620.02139 St Modwen Properties PLC6730.02
166 Mitchells & Butlers PLC4660.02438 Standard Life Aberdeen PLC1,5600.05
29 MJ Gleeson PLC2540.01112 Stobart Group Ltd33-
12 Morgan Crucible Co PLC45-144 Stock Spirits Group PLC4510.01
25 Morgan Sindall Group PLC4690.0247 SuperGroup PLC1610.01
129 N Brown Group PLC103-283 Tate & Lyle PLC2,3910.08
24 Naked Wines PLC1860.0184 Taylor Wimpey PLC1700.01
269 National Express Group PLC7920.037 TBC Bank Group PLC116-
164 NCC Group PLC4320.0114 TClarke PLC18-
243 Ninety One PLC6830.0247 Ted Baker PLC86-
27 Norcros PLC73-6 TEN Entertainment Group PLC17-
132 Northgate PLC4260.015 TI Fluid Systems PLC14-
14 Numis Corp PLC66-165 Travis Perkins PLC2,8010.09
149 OSB Group PLC7720.0378 Trifast PLC1560.01
181 Paragon Group of Cos PLC9710.03123 TT Electronics plc3390.01
22 Parkmead Group PLC11-191 TUI AG1,2650.04
481 Pearson PLC4,0980.13401 Tullett Prebon PLC1,1270.04
840 Pendragon PLC143-1,129 Tullow Oil PLC4160.01
133 Petrofac Ltd2690.0138 Tyman PLC1660.01
1,746 Petropavlovsk PLC6370.0288 U & I Group PLC75-
364 Pets at Home Group PLC2,0090.0784 UDG Healthcare PLC8810.03
191 Pharos Energy PLC42-77 Urban & Civic PLC3540.01
419 Phoenix Group Holdings PLC3,9730.13400 Vectura Group PLC5910.02
180 Photo-Me International PLC133-310 Vertu Motors PLC126-
231 Playtech PLC1,1810.04157 Vesuvius PLC1,0130.03
131 Polypipe Group PLC8570.03686 Virgin Money UK PLC1,1450.04
10 PPHE Hotel Group Ltd1710.01184 Vistry Group PLC2,0300.07
651 Premier Foods PLC7620.027 Vitec Group PLC82-
710 Premier Oil PLC1880.016 Volex PLC22-
171 Provident Financial PLC6310.0276 Volution Group PLC2340.01
125 PZ Cussons PLC3780.013 Vp PLC33-


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
英国 5.06% (続き)米国 65.69% (続き)
137 Weir Group PLC3,0240.1012 Alpha & Omega Semiconductor Ltd2890.01
57 Whitbread PLC2,2910.0711 Alpha Pro Tech Ltd133-
1,010 WM Morrison Supermarkets PLC2,4040.0813 Altabancorp3620.01
40 Xaar PLC86-1 Altisource Portfolio Solutions SA20-
3 Young & Co's Brewery PLC, Class A48-51 Altra Industrial Motion Corp2,8870.09
11 Zotefoams PLC56-6 A-Mark Precious Metals Inc1980.01
156,5915.0623 Ambac Financial Group Inc3340.01
米国 65.69%15 AMC Networks Inc4830.02
25 1-800-Flowers.com Inc5860.02- AMCON Distributing Co35-
6 1st Constitution Bancorp96-38 Amdocs Ltd2,4970.08
19 1st Source Corp6950.0213 Amerco5,2900.17
14 A H Belo Corp22-22 Ameresco Inc9930.03
19 AAR Corp5480.0280 American Axle & Manufacturing Holdings Inc6340.02
40 Aaron's Holdings Co Inc2,5150.08113 American Eagle Outfitters Inc2,0340.07
49 Abercrombie & Fitch Co1,0210.0345 American Equity Investment Life Holding Co1,1850.04
46 ABM Industries Inc1,7810.0633 American Financial Group Inc2,9880.10
41 Acacia Research Corp1510.019 American National Bankshares Inc2270.01
69 Acadia Healthcare Co Inc2,9440.1017 American National Group Inc1,4650.05
60 ACCO Brands Corp4560.029 American Outdoor Brands Inc122-
113 Achillion Pharmaceuticals Inc1610.0112 American Public Education Inc3660.01
38 ACI Worldwide Inc1,2480.043 American River Bankshares30-
4 Acme United Corp117-5 American Software Inc75-
6 ACNB Corp1460.016 American Superconductor Corp122-
26 Acuity Brands Inc3,0370.1020 American Vanguard Corp2970.01
52 Acushnet Holdings Corp1,9700.0612 American Woodmark Corp1,0490.03
3 Adams Resources & Energy Inc67-10 Ameriprise Financial Inc1,9090.06
9 Addus HomeCare Corp9230.0353 Ameris Bancorp1,8190.06
72 Adient PLC2,2620.077 Ames National Corp1530.01
187 ADT Inc1,4550.05168 Amkor Technology Inc2,4740.08
37 Adtalem Global Education Inc1,0500.0311 AMN Healthcare Services Inc6890.02
33 ADTRAN Inc4130.0110 Ampco-Pittsburgh Corp43-
11 Advance Auto Parts Inc1,5530.0529 Amphastar Pharmaceuticals Inc5160.02
14 Advanced Energy Industries Inc1,3030.0412 Amtech Systems Inc72-
23 AdvanSix Inc4030.013 AnaptysBio Inc71-
83 AECOM4,3050.1424 Andersons Inc5510.02
18 Aegion Corp3120.0129 AngioDynamics Inc4190.01
14 AeroVironment Inc1,1910.0411 Anika Therapeutics Inc4120.01
29 Affiliated Managers Group Inc2,5060.0831 Antero Midstream Corp2100.01
54 AGCO Corp5,0180.16223 Antero Resources Corp8740.03
12 AgroFresh Solutions Inc27-223 Apache Corp2,8740.09
82 Air Lease Corp3,0040.1022 Apogee Enterprises Inc5790.02
1 Air T Inc10-18 Applied Genetic Technologies Corp78-
41 Air Transport Services Group Inc1,2610.0427 Applied Industrial Technologies Inc2,0870.07
4 Airgain Inc54-38 Aptinyx Inc1510.01
9 Akebia Therapeutics Inc28-163 Aramark5,7150.19
8 Alamo Group Inc1,1040.046 Aravive Inc35-
62 Alaska Air Group Inc3,1750.1053 ARC Document Solutions Inc77-
38 Alaska Communications Systems Group Inc115-12 ArcBest Corp5190.02
2 Albany International Corp142-174 Arch Capital Group Ltd5,6140.18
52 Albemarle Corp7,0710.2314 Arch Resources Inc4840.02
128 Alcoa Corp2,5510.08102 Archrock Inc7910.03
5 Alerus Financial Corp115-95 Arconic Corp2,6190.09
7 Alico Inc2170.0135 Arcosa Inc1,8100.06
11 Alithya Group Inc26-8 Ardelyx Inc48-
10 Alleghany Corp5,5620.1829 Ardmore Shipping Corp95-
85 Allegheny Technologies Inc1,1460.0425 Arena Pharmaceuticals Inc1,6410.05
13 Allegiance Bancshares Inc4140.018 Argan Inc3900.01
10 Allegiant Travel Co1,6720.0524 Argo Group International Holdings Ltd9580.03
8 Alliance Data Systems Corp5920.021 Ark Restaurants Corp18-
5 Allied Motion Technologies Inc2110.0182 Arlo Technologies Inc4330.01
131 Allscripts Healthcare Solutions Inc1,7870.0618 Armstrong Flooring Inc65-
290 Ally Financial Inc8,5980.2858 Arrow Electronics Inc5,2960.17


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
米国 65.69% (続き)米国 65.69% (続き)
12 Arrow Financial Corp3530.0177 Bed Bath & Beyond Inc1,6130.05
14 Asbury Automotive Group Inc1,5490.0510 Bel Fuse Inc1440.01
34 ASGN Inc2,6750.0926 Belden Inc9820.03
45 Ashland Global Holdings Inc3,3710.1116 Benchmark Electronics Inc3970.01
11 Aspen Aerogels Inc1620.0142 Berkshire Hills Bancorp Inc6890.02
54 Assertio Holdings Inc23-48 Berry Corp1850.01
114 Associated Banc-Corp1,7420.0612 Big 5 Sporting Goods Corp117-
3 Associated Capital Group Inc126-32 Big Lots Inc1,6390.05
40 Assurant Inc5,1960.17- Biglari Holdings Inc, Class A89-
61 Assured Guaranty Ltd1,8300.062 Biglari Holdings Inc, Class B1710.01
17 Astec Industries Inc9880.032 BioSpecifics Technologies Corp141-
18 Astronics Corp, Class A2060.0113 BJ's Restaurants Inc4200.01
2 Astronics Corp, Class B26-2 BK Technologies Corp7-
6 AstroNova Inc57-27 Blucora Inc3500.01
46 At Home Group Inc8660.037 Bluegreen Vacations Holding Corp85-
138 Athene Holding Ltd6,1410.2049 BMC Stock Holdings Inc2,4000.08
17 Atlantic Capital Bancshares Inc2320.0129 Boise Cascade Co1,2710.04
59 Atlantic Union Bankshares Corp1,7510.0649 BOK Financial Corp3,3120.11
17 Atlas Air Worldwide Holdings Inc9760.0316 Bonanza Creek Energy Inc3500.01
11 ATN International Inc5460.0221 Boot Barn Holdings Inc8740.03
- Auburn National BanCorp Inc16-152 BorgWarner Inc5,9060.19
53 Autoliv Inc4,7310.158 Boston Omaha Corp1830.01
65 AutoNation Inc4,0070.1368 Boston Private Financial Holdings Inc4840.02
32 Avanos Medical Inc1,3750.0429 Brady Corp1,2990.04
6 Aviat Networks Inc2150.0116 Bridge Bancorp Inc3560.01
56 Avient Corp2,0470.077 Bridgewater Bancshares Inc80-
68 Avnet Inc2,0560.0762 Brighthouse Financial Inc2,1750.07
10 Aware Inc31-41 BrightView Holdings Inc5610.02
277 AXA Equitable Holdings Inc7,0180.232 Bristow Group Inc34-
24 Axcelis Technologies Inc6580.028 Broadwind Energy Inc36-
61 Axis Capital Holdings Ltd3,0360.10158 Brookdale Senior Living Inc6690.02
43 Axos Financial Inc1,4430.0563 Brookfield Renewable Corp4,9920.16
40 AXT Inc3930.0162 Brookline Bancorp Inc7090.02
20 AZZ Inc8710.0347 Brooks Automation Inc3,3990.11
27 B&G Foods Inc7530.0245 Brunswick Corp3,3790.11
245 Baker Hughes Co4,5850.1514 Bryn Mawr Bank Corp4180.01
14 Ballantyne Strong Inc26-9 BSQUARE Corp13-
20 Bally's Corp8960.0334 Buckle Inc9110.03
38 Banc of California Inc5070.0210 Build-A-Bear Workshop Inc39-
23 BancFirst Corp1,2380.0475 Builders FirstSource Inc2,8050.09
53 Bancorp Inc6250.02104 Bunge Ltd6,1150.20
75 BancorpSouth Bank1,9140.062 Business First Bancshares Inc30-
16 Bank of Commerce Holdings1540.0120 Byline Bancorp Inc3140.01
11 Bank of Hawaii Corp8140.033 C&F Financial Corp115-
10 Bank of Marin Bancorp3470.0139 Cabot Corp1,6150.05
36 Bank of NT Butterfield & Son Ltd1,1550.0471 Cabot Oil & Gas Corp1,2500.04
6 Bank of Princeton136-16 CACI International Inc3,8480.12
94 Bank OZK2,6300.0988 Cadence BanCorp1,2330.04
14 BankFinancial Corp111-131 Caesars Entertainment Inc8,9150.29
67 BankUnited Inc1,8980.0612 CAI International Inc3820.01
7 Bankwell Financial Group Inc131-23 CalAmp Corp2080.01
27 Banner Corp1,1020.04- Caledonia Mining Corp PLC6-
13 Bar Harbor Bankshares3010.0124 Caleres Inc2880.01
45 Barnes & Noble Education Inc1650.0160 Callaway Golf Co1,2770.04
33 Barnes Group Inc1,5330.0521 Callon Petroleum Co2020.01
2 Bassett Furniture Industries Inc33-27 Cal-Maine Foods Inc1,0610.03
6 BayCom Corp86-2 Cambridge Bancorp124-
7 BBX Capital Inc30-13 Camden National Corp4360.01
15 BCB Bancorp Inc1530.0147 Cannae Holdings Inc1,8370.06
55 Beacon Roofing Supply Inc1,9880.069 Cantel Medical Corp5580.02
6 Beasley Broadcast Group Inc9-3 Capital Bancorp Inc40-
31 Beazer Homes USA Inc4570.0214 Capital City Bank Group Inc3250.01


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
米国 65.69% (続き)米国 65.69% (続き)
104 Capitol Federal Financial Inc1,2790.0436 Clean Harbors Inc2,5900.08
88 Capri Holdings Ltd3,1270.1010 Clearfield Inc2440.01
13 Capstar Financial Holdings Inc1530.018 ClearOne Inc22-
13 Cardtronics PLC3160.0110 Clearwater Paper Corp3400.01
32 Carlisle Cos Inc4,6530.1518 CMC Materials Inc2,7580.09
20 CarMax Inc1,8910.0632 CNA Financial Corp1,1080.04
177 Carnival Corp3,5340.1112 CNB Financial Corp2410.01
27 Carpenter Technology Corp6620.0259 CNO Financial Group Inc1,2610.04
14 Carriage Services Inc3920.01164 CNX Resources Corp1,5390.05
42 Carrols Restaurant Group Inc2880.013 Coastal Financial Corp58-
56 Cars.com Inc6300.027 Codorus Valley Bancorp Inc121-
11 Cass Information Systems Inc4750.02145 Coeur Mining Inc1,0290.03
14 Catalyst Biosciences Inc84-15 Coherent Inc1,8010.06
57 Cathay General Bancorp1,6130.0524 Cohu Inc6680.02
21 Cato Corp1680.0185 Colfax Corp3,0730.10
6 Cavco Industries Inc1,1410.047 Colony Bankcorp Inc101-
28 CBIZ Inc6890.0255 Columbia Banking System Inc1,7280.06
28 Cboe Global Markets Inc2,5830.0852 Columbia Financial Inc7410.02
88 CBRE Group Inc5,3770.1716 Columbia Sportswear Co1,3060.04
22 CBTX Inc4860.0216 Columbus McKinnon Corp6000.02
4 CCUR Holdings Inc13-101 Comerica Inc4,9570.16
31 CECO Environmental Corp2290.0125 Comfort Systems USA Inc1,2640.04
5 Celldex Therapeutics Inc119-52 Commerce Bancshares Inc3,4410.11
196 Centennial Resource Development Inc2310.0153 Commercial Metals Co1,0530.03
32 Central Garden & Pet Co (non-voting rights)1,1780.0422 Commercial Vehicle Group Inc1590.01
10 Central Garden & Pet Co (voting rights)3920.01- CommScope Holding Co Inc3-
17 Central Pacific Financial Corp2800.019 Communications Systems Inc37-
10 Central Valley Community Bancorp1450.0133 Community Bank System Inc2,0650.07
79 Century Aluminum Co8050.0321 Community Bankers Trust Corp135-
3 Century Bancorp Inc2350.015 Community Financial Corp128-
22 Century Communities Inc9960.0315 Community Trust Bancorp Inc5080.02
848 CenturyLink Inc8,8620.2912 Computer Programs & Systems Inc3380.01
24 Cerence Inc2,1630.0714 Computer Task Group Inc96-
97 CF Industries Holdings Inc3,6080.1250 comScore Inc127-
58 ChampionX Corp6890.029 Comtech Telecommunications Corp1700.01
21 ChannelAdvisor Corp3110.015 Concert Pharmaceuticals Inc60-
18 Charles Schwab Corp8670.03147 Concho Resources Inc8,4500.27
25 Chart Industries Inc2,6060.08164 Conduent Inc6940.02
19 Cheesecake Factory Inc7120.0215 CONMED Corp1,5140.05
21 Chefs' Warehouse Inc4870.0229 ConnectOne Bancorp Inc5160.02
82 Chemours Co2,0000.0723 Conn's Inc2580.01
4 Chemung Financial Corp1460.0112 CONSOL Energy Inc64-
9 Chevron Corp7700.0364 Consolidated Communications Holdings Inc3600.01
101 Chico's FAS Inc1520.0120 Construction Partners Inc5150.02
50 Chimerix Inc1880.0120 Consumer Portfolio Services Inc81-
14 Chuy's Holdings Inc3200.0113 Container Store Group Inc121-
96 Ciena Corp4,3070.1463 Continental Resources Inc9640.03
63 Cimarex Energy Co2,2590.0739 Cooper Tire & Rubber Co1,5520.05
83 Cincinnati Financial Corp6,3190.2013 Cooper-Standard Holdings Inc4430.01
76 Cinemark Holdings Inc1,1730.0420 Copa Holdings SA1,5940.05
17 CIRCOR International Inc5710.023 Core Molding Technologies Inc30-
33 Cirrus Logic Inc2,6690.0928 CoreLogic Inc2,1470.07
71 CIT Group Inc2,3770.0833 Core-Mark Holding Co Inc1,0220.03
10 Citi Trends Inc3300.0115 Corteva Inc5600.02
9 Citizens & Northern Corp1560.0197 Costamare Inc6950.02
7 Citizens Community Bancorp Inc63-410 Coty Inc2,9460.10
212 Citizens Financial Group Inc6,9090.226 County Bancorp Inc122-
12 City Holding Co7630.0310 Covenant Transportation Group Inc1870.01
10 Civeo Corp1530.0129 Covetrus Inc7960.03
15 Civista Bancshares Inc2520.0123 Cowen Inc5450.02
24 Clarus Corp3420.0112 CPI Aerostructures Inc38-
142 Clean Energy Fuels Corp6450.025 CRA International Inc2270.01


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
米国 65.69% (続き)米国 65.69% (続き)
29 Crane Co2,0450.0715 DZS Inc1870.01
6 Crawford & Co45-25 Eagle Bancorp Inc9250.03
63 Cree Inc5,7040.185 Eagle Bancorp Montana Inc98-
33 Cross Country Healthcare Inc2910.017 Eagle Bulk Shipping Inc135-
5 Crown Crafts Inc40-19 Earthstone Energy Inc72-
24 CryoLife Inc5070.0289 East West Bancorp Inc3,8120.12
9 CSW Industrials Inc1,0170.035 Eastern Co102-
2 CTO Realty Growth Inc99-86 Eastman Chemical Co8,3970.27
23 CTS Corp7060.0219 Ebix Inc6620.02
21 Cubic Corp1,2380.0421 Echo Global Logistics Inc5860.02
41 Cullen/Frost Bankers Inc3,4200.1136 EchoStar Corp8510.03
11 Culp Inc1610.0139 Edgewell Personal Care Co1,3470.04
15 Cumberland Pharmaceuticals Inc43-30 El Pollo Loco Holdings Inc4710.02
7 Cumulus Media Inc61-142 Elanco Animal Health Inc4,3340.14
27 Curtiss-Wright Corp3,0640.103 Elanco Animal Health Inc (non-voting rights)--
19 Cushman & Wakefield PLC2790.013 Electromed Inc35-
29 Customers Bancorp Inc4860.02194 Element Solutions Inc2,6810.09
88 CVB Financial Corp1,6750.0513 Elevate Credit Inc36-
42 CVR Energy Inc5870.0231 elf Beauty Inc6780.02
6 CyberOptics Corp1480.0137 EMCOR Group Inc3,1820.10
43 Daktronics Inc1930.0126 EMCORE Corp115-
109 Dana Inc1,8440.0628 Emerald Holding Inc118-
116 Darling Ingredients Inc5,6200.1833 Emergent BioSolutions Inc2,6740.09
10 DaVita Inc1,1010.0421 Employers Holdings Inc6400.02
20 Dawson Geophysical Co39-13 Enanta Pharmaceuticals Inc5270.02
35 Del Taco Restaurants Inc3070.0124 Encore Capital Group Inc8260.03
53 Delek US Holdings Inc6990.0211 Encore Wire Corp5780.02
3 Delta Air Lines Inc129-11 Endurance International Group Holdings Inc109-
2 Delta Apparel Inc47-25 Enerpac Tool Group Corp5590.02
27 Deluxe Corp6900.0226 EnerSys2,1280.07
80 Dentsply Sirona Inc4,0890.13324 EnLink Midstream LLC1,1980.04
54 Designer Brands Inc4240.0115 Ennis Inc2390.01
276 Devon Energy Corp3,8550.1333 Enova International Inc6890.02
48 DHI Group Inc92-14 EnPro Industries Inc9850.03
121 DHT Holdings Inc6170.0213 Enstar Group Ltd2,4400.08
2 Diamond Hill Investment Group Inc3280.01125 Entercom Communications Corp3050.01
91 Diamondback Energy Inc3,6350.127 Enterprise Bancorp Inc1820.01
44 Dick's Sporting Goods Inc2,5230.0820 Enterprise Financial Services Corp6650.02
16 Digi International Inc2780.0151 Entravision Communications Corp1470.01
1 Digirad Corp2-61 Envista Holdings Corp1,8080.06
17 Dillard's Inc8020.0338 Enzo Biochem Inc82-
29 Dime Community Bancshares Inc4240.0132 EOG Resources Inc1,4910.05
35 Diodes Inc2,3950.089 ePlus Inc7840.03
81 Discover Financial Services6,1500.206 Epsilon Energy Ltd21-
71 Discovery Inc, Class A1,9180.06193 EQT Corp2,8670.09
137 Discovery Inc, Class C3,2890.11109 Equitrans Midstream Corp8870.03
74 DISH Network Corp2,6700.0913 Equity Bancshares Inc2630.01
5 DLH Holdings Corp48-14 Escalade Inc2650.01
9 DMC Global Inc3540.0118 ESCO Technologies Inc1,7440.06
38 Dolby Laboratories Inc3,3530.111 Espey Manufacturing & Electronics Corp18-
81 Dollar Tree Inc8,8060.294 Esquire Financial Holdings Inc69-
38 Domtar Corp1,1470.047 ESSA Bancorp Inc108-
22 Donegal Group Inc3010.0164 Essent Group Ltd2,7890.09
26 Donnelley Financial Solutions Inc4280.0119 Ethan Allen Interiors Inc3420.01
39 Dorian LPG Ltd4220.014 Evans Bancorp Inc95-
22 Dorman Products Inc2,0460.0726 Everest Re Group Ltd5,9200.19
14 Douglas Dynamics Inc5630.0274 Evolent Health Inc1,0820.04
27 Dril-Quip Inc7580.0223 Evolution Petroleum Corp70-
6 Ducommun Inc3150.0138 EW Scripps Co4830.02
174 DXC Technology Co3,8200.1263 Exelixis Inc1,2000.04
14 DXP Enterprises Inc2890.0122 ExlService Holdings Inc1,7970.06
21 Dycom Industries Inc1,3140.0419 Express Inc29-


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
米国 65.69% (続き)米国 65.69% (続き)
119 Extended Stay America Inc1,6250.0516 FLIR Systems Inc6020.02
26 Exterran Corp110-36 Flotek Industries Inc72-
42 EZCORP Inc2160.0119 Flowserve Corp6550.02
- F5 Networks Inc30-14 Fluent Inc48-
25 Fabrinet1,7250.067 Fluidigm Corp44-
17 Farmer Brothers Co74-88 Fluor Corp1,5280.05
4 Farmers & Merchants Bancorp Inc101-24 Flushing Financial Corp3380.01
18 Farmers National Banc Corp2270.01231 FNB Corp2,0360.07
11 FARO Technologies Inc7480.026 FONAR Corp113-
33 FB Financial Corp1,0660.0378 Foot Locker Inc2,9210.09
7 FBL Financial Group Inc3630.0139 Forestar Group Inc7680.03
8 Federal Agricultural Mortgage Corp5250.0257 FormFactor Inc2,3290.08
41 Federal Signal Corp1,2880.0466 Fortune Brands Home & Security Inc5,5180.18
13 FedNat Holding Co72-2 Forum Energy Technologies Inc25-
57 Ferro Corp8090.0319 Forward Air Corp1,4050.05
108 Ferroglobe PLC138-45 Fossil Group Inc4810.02
29 Ferroglobe Representation & Warrants Insurance166 Fox Corp, Class A4,7950.16
Trust--124 Fox Corp, Class B3,5270.11
123 Fidelity National Financial Inc4,4090.141 Franklin Covey Co32-
25 Fiesta Restaurant Group Inc2990.0118 Franklin Electric Co Inc1,2090.04
420 Fifth Third Bancorp10,6320.343 Franklin Financial Services Corp77-
14 Financial Institutions Inc2900.01344 Franklin Resources Inc7,5630.24
81 First American Financial Corp3,9210.13186 Frank's International NV4160.01
21 First Bancorp6700.02202 Freeport-McMoRan Inc4,7340.15
161 First Bancorp (Puerto Rico listing)1,2750.049 FreightCar America Inc25-
7 First Bancorp Inc1780.018 Frequency Electronics Inc85-
13 First Bancshares Inc3650.0124 Fresh Del Monte Produce Inc5980.02
8 First Bank75-4 Friedman Industries Inc25-
43 First Busey Corp8530.039 FRP Holdings Inc4130.01
7 First Business Financial Services Inc130-4 FS Bancorp Inc2150.01
8 First Choice Bancorp133-26 FTI Consulting Inc2,7010.09
7 First Citizens BancShares Inc3,6500.1217 Full House Resorts Inc60-
75 First Commonwealth Financial Corp7270.02117 Fulton Financial Corp1,4350.05
16 First Community Bankshares Inc3370.0136 FutureFuel Corp4310.01
6 First Community Corp107-3 FVCBankcorp Inc43-
73 First Financial Bancorp1,1770.0464 GameStop Corp1,0660.03
32 First Financial Bankshares Inc1,0710.03100 Gannett Co Inc2850.01
12 First Financial Corp4510.01241 Gap Inc5,0510.16
8 First Financial Northwest Inc85-62 GasLog Ltd1820.01
37 First Foundation Inc6530.0265 Gates Industrial Corp PLC8340.03
3 First Guaranty Bancshares Inc45-18 GATX Corp1,4350.05
99 First Hawaiian Inc2,1700.0764 GCI Liberty Inc5,8600.19
412 First Horizon National Corp5,0370.1649 GCP Applied Technologies Inc1,1570.04
9 First Internet Bancorp2240.019 Genasys Inc62-
30 First Interstate BancSystem Inc1,1310.0436 Genco Shipping & Trading Ltd2700.01
42 First Merchants Corp1,3970.0512 Gencor Industries Inc140-
12 First Mid Bancshares Inc3620.0112 Genesco Inc3690.01
84 First Midwest Bancorp Inc1,1700.0419 Genie Energy Ltd1570.01
11 First Northwest Bancorp1590.01139 Gentex Corp4,5450.15
20 First of Long Island Corp3370.0124 Gentherm Inc1,3770.04
1 First Savings Financial Group Inc49-184 Genworth Financial Inc8360.03
80 First Solar Inc7,4720.2413 Geospace Technologies Corp80-
7 First United Corp107-17 German American Bancorp Inc5490.02
1 First US Bancshares Inc10-22 Gibraltar Industries Inc1,4620.05
2 First Western Financial Inc28-33 G-III Apparel Group Ltd6760.02
4 FirstCash Inc2730.0151 Glacier Bancorp Inc2,0600.07
94 Fitbit Inc6720.0224 Glatfelter Corp3890.01
31 Five Prime Therapeutics Inc5860.028 Global Indemnity Group LLC2110.01
24 Five Star Senior Living Inc140-64 Globe Life Inc5,9240.19
42 Flagstar Bancorp Inc1,4780.057 Globus Medical Inc4470.01
312 Flex Ltd5,0650.1632 GlycoMimetics Inc120-
8 Flexsteel Industries Inc2260.0135 GMS Inc1,0810.04


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
米国 65.69% (続き)米国 65.69% (続き)
53 Gold Resource Corp1580.017 Hennessy Advisors Inc62-
25 Goldfield Corp1710.0153 Henry Schein Inc3,4220.11
7 Goodrich Petroleum Corp76-19 Herc Holdings Inc1,0800.04
173 Goodyear Tire & Rubber Co1,8070.0652 Heritage Commerce Corp4380.01
18 Gorman-Rupp Co5970.0228 Heritage Financial Corp6620.02
17 GP Strategies Corp1930.0125 Heritage Insurance Holdings Inc2610.01
3 Graham Holdings Co1,4300.0518 Heritage-Crystal Clean Inc3500.01
18 Grand Canyon Education Inc1,4850.0540 Herman Miller Inc1,4090.05
29 Granite Construction Inc7250.02101 Hertz Global Holdings Inc1600.01
195 Graphic Packaging Holding Co2,9900.10596 Hewlett Packard Enterprise Co6,5830.21
74 Gray Television Inc1,3040.048 Hibbett Sports Inc3490.01
47 Great Lakes Dredge & Dock Corp5310.022 HighPoint Resources Corp26-
10 Great Southern Bancorp Inc4760.0240 Hill International Inc75-
41 Great Western Bancorp Inc6810.0259 Hilltop Holdings Inc1,4290.05
38 Green Brick Partners Inc8250.032 Hingham Institution for Savings3590.01
30 Green Dot Corp1,6290.0552 HMS Holdings Corp1,6470.05
22 Green Plains Inc3300.0129 HNI Corp1,0710.03
24 Greenbrier Cos Inc8070.03118 HollyFrontier Corp2,7560.09
1 Greene County Bancorp Inc35-5 Home Bancorp Inc1450.01
27 Greenlight Capital Re Ltd2090.01117 Home BancShares Inc2,1710.07
19 Greif Inc (non-voting rights)9040.0317 HomeStreet Inc5500.02
10 Greif Inc (voting rights)4890.0211 HomeTrust Bancshares Inc1910.01
3 Griffin Industrial Realty Inc2250.0112 Hooker Furniture Corp3550.01
20 Griffon Corp4080.0192 Hope Bancorp Inc8710.03
10 Group 1 Automotive Inc1,1450.0424 Horace Mann Educators Corp9460.03
35 Grubhub Inc2,4910.0829 Horizon Bancorp Inc4140.01
11 GSI Technology Inc71-86 Horizon Therapeutics PLC6,0680.20
5 Guaranty Bancshares Inc135-86 Hostess Brands Inc1,1600.04
57 Guess? Inc9510.03109 Houghton Mifflin Harcourt Co3270.01
12 Gulf Island Fabrication Inc38-17 Houston Wire & Cable Co44-
10 H&E Equipment Services Inc2730.0115 Howard Bancorp Inc1830.01
6 Hackett Group Inc83-32 Howard Hughes Corp2,3430.08
61 Hain Celestial Group Inc2,3390.08294 Howmet Aerospace Inc6,9030.22
481 Halliburton Co7,9770.2623 Hub Group Inc1,2550.04
14 Hallmark Financial Services Inc46-1 Hubbell Inc105-
60 Hancock Whitney Corp1,6800.051 Hudson Global Inc8-
29 Hanmi Financial Corp2860.0122 Hudson Ltd1690.01
28 Hanover Insurance Group Inc3,1620.10737 Huntington Bancshares Inc8,9080.29
36 HarborOne Bancorp Inc3490.01164 Huntsman Corp4,0560.13
106 Harley-Davidson Inc4,2800.145 Hurco Cos Inc1490.01
71 Harmonic Inc4670.0215 Huron Consulting Group Inc6520.02
27 Harsco Corp4560.0220 Hyatt Hotels Corp1,4090.05
177 Hartford Financial Services Group Inc7,8430.2510 Hyster-Yale Materials Handling Inc5280.02
31 Harvard Bioscience Inc120-12 ICF International Inc9050.03
7 Hasbro Inc6540.0217 Ichor Holdings Ltd5560.02
10 Haverty Furniture Cos Inc2660.018 ICU Medical Inc1,6000.05
34 Hawaiian Holdings Inc6980.022 Identiv Inc12-
8 Hawkins Inc4120.017 IEC Electronics Corp67-
5 Hawthorn Bancshares Inc108-9 IES Holdings Inc3160.01
7 Haynes International Inc1590.0143 IMAX Corp6410.02
35 HB Fuller Co1,8280.061 Independence Contract Drilling Inc3-
6 HCI Group Inc3340.0113 Independence Holding Co5200.02
22 HealthStream Inc4200.0122 Independent Bank Corp (Massachusetts)1,4920.05
56 Heartland Express Inc1,0340.0321 Independent Bank Corp (Michigan)3520.01
27 Heartland Financial USA Inc1,0650.0335 Independent Bank Group Inc1,9370.06
427 Hecla Mining Co2,0390.0749 Infinera Corp4160.01
16 Heidrick & Struggles International Inc4060.0134 Information Services Group Inc103-
15 Helen of Troy Ltd2,9930.10194 Ingersoll Rand Inc8,6010.28
22 Helios Technologies Inc1,0850.046 Ingles Markets Inc2200.01
105 Helix Energy Solutions Group Inc3940.0144 Ingredion Inc3,3760.11
73 Helmerich & Payne Inc1,6530.0512 Innodata Inc62-
16 Hemisphere Media Group Inc1770.0117 Innospec Inc1,3980.05


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
米国 65.69% (続き)米国 65.69% (続き)
3 Innovative Solutions & Support Inc20-27 Kimball International Inc2960.01
9 Inogen Inc3230.019 Kingstone Cos Inc61-
24 Insight Enterprises Inc1,7130.0643 Kirby Corp2,1750.07
17 Insteel Industries Inc3940.01125 Knight-Swift Transportation Holdings Inc5,1500.17
23 Integer Holdings Corp1,6410.0537 Knoll Inc5080.02
23 Integra LifeSciences Holdings Corp1,2710.0468 Knowles Corp1,1550.04
8 Inter Parfums Inc4340.01114 Kohl's Corp3,6740.12
39 Interactive Brokers Group Inc2,0800.0739 Korn Ferry1,5680.05
23 InterDigital Inc1,3860.05285 Kosmos Energy Ltd5010.02
40 Interface Inc3360.0127 Kraton Corp7370.02
49 International Bancshares Corp1,5750.0534 Kratos Defense & Security Solutions Inc7110.02
139 International Game Technology PLC1,7460.0650 Kronos Worldwide Inc6920.02
158 International Paper Co7,8300.2533 Kulicke & Soffa Industries Inc1,0160.03
24 International Seaways Inc4130.0116 KVH Industries Inc1690.01
256 Interpublic Group of Cos Inc5,6960.1842 Lakeland Bancorp Inc5080.02
12 inTEST Corp66-18 Lakeland Financial Corp9160.03
21 Intevac Inc126-8 Lakeland Industries Inc1500.01
10 Intrepid Potash Inc136-18 Landec Corp1820.01
6 IntriCon Corp101-3 Landmark Bancorp Inc65-
31 Invacare Corp2610.0120 Lands' End Inc5100.02
338 Invesco Ltd5,4790.1827 Lannett Co Inc1670.01
8 Investar Holding Corp135-10 Lantronix Inc43-
190 Investors Bancorp Inc1,8370.069 Laredo Petroleum Inc105-
1 Investors Title Co2470.0165 Laureate Education Inc9180.03
20 IPG Photonics Corp4,2280.147 Lawson Products Inc3260.01
84 Iridium Communications Inc2,7110.0933 La-Z-Boy Inc1,2190.04
1 Itron Inc110-10 LB Foster Co1480.01
57 ITT Inc4,1710.1417 LCI Industries2,1730.07
13 J Alexander's Holdings Inc92-12 LCNB Corp1750.01
1 J&J Snack Foods Corp98-41 Lear Corp5,8390.19
6 j2 Global Inc5450.023 Leidos Holdings Inc2920.01
101 Jabil Inc3,8640.1359 LendingClub Corp4670.02
78 Jacobs Engineering Group Inc8,3750.2742 Lennar Corp, Class A3,1870.10
22 James River Group Holdings Ltd9820.034 Lennar Corp, Class B2230.01
139 Janus Henderson Group PLC3,9640.138 LENSAR Inc67-
36 Jazz Pharmaceuticals PLC5,1020.175 Level One Bancorp Inc88-
178 Jefferies Financial Group Inc4,0500.1316 LGI Homes Inc1,7350.06
69 JELD-WEN Holding Inc1,6780.051 LGL Group Inc13-
203 JetBlue Airways Corp3,0580.1020 LHC Group Inc3,9250.13
56 JM Smucker Co6,5360.2141 Liberty Latin America Ltd, Class A4620.02
1 John B Sanfilippo & Son Inc106-134 Liberty Latin America Ltd, Class C1,5130.05
33 John Wiley & Sons Inc1,1380.049 Liberty Media Corp-Liberty Braves, Class A2140.01
6 Johnson Outdoors Inc5200.0228 Liberty Media Corp-Liberty Braves, Class C6970.02
36 Jones Lang LaSalle Inc4,7400.1513 Liberty Media Corp-Liberty Formula One, Class A4820.02
29 Jounce Therapeutics Inc2060.0136 Liberty Media Corp-Liberty Formula One, Class C1,4910.05
109 Juniper Networks Inc2,3790.0871 Liberty Media Corp-Liberty SiriusXM, Class A2,8940.09
21 K12 Inc4820.02163 Liberty Media Corp-Liberty SiriusXM, Class C6,7040.22
8 Kadant Inc1,0080.033 Liberty Oilfield Services Inc24-
6 Kaiser Aluminum Corp4710.0252 Liberty TripAdvisor Holdings Inc142-
1 Kansas City Southern1940.0121 Lifetime Brands Inc2810.01
76 KAR Auction Services Inc1,3730.0410 Ligand Pharmaceuticals Inc8110.03
69 KB Home2,4160.087 Limbach Holdings Inc78-
103 KBR Inc2,8610.092 Limoneira Co35-
67 Kearny Financial Corp6640.023 Lincoln Educational Services Corp17-
18 Kelly Services Inc3640.01131 Lincoln National Corp6,1660.20
42 Kemper Corp3,1350.1062 Lions Gate Entertainment Corp, Class A6070.02
54 Kennametal Inc1,8850.06103 Lions Gate Entertainment Corp, Class B9210.03
63 Kennedy-Wilson Holdings Inc1,0060.0328 Liquidity Services Inc2670.01
1 Kewaunee Scientific Corp13-15 Lithia Motors Inc4,4780.15
6 Key Tronic Corp43-14 Littelfuse Inc3,4790.11
607 KeyCorp9,3790.305 LivaNova PLC2690.01
17 Kimball Electronics Inc2670.0131 Live Oak Bancshares Inc1,2880.04


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
米国 65.69% (続き)米国 65.69% (続き)
93 Livent Corp1,4160.0560 MEDNAX Inc1,2070.04
5 LiveRamp Holdings Inc3180.0114 Mercantile Bank Corp3460.01
160 LKQ Corp5,6220.1857 Mercer International Inc4690.02
201 Loews Corp8,4310.275 Merchants Bancorp136-
81 Louisiana-Pacific Corp2,7680.0937 Mercury General Corp1,6330.05
5 LS Starrett Co20-27 Mercury Systems Inc1,9390.06
25 LSB Industries Inc63-30 Meredith Corp6150.02
26 LSI Industries Inc2030.0142 Meridian Bancorp Inc5800.02
24 Luby's Inc72-30 Meridian Bioscience Inc5640.02
48 Lumentum Holdings Inc4,1880.1437 Merit Medical Systems Inc2,0300.07
24 Luminex Corp5680.0223 Meritage Homes Corp2,0820.07
5 Lumos Pharma Inc80-8 Merrimack Pharmaceuticals Inc30-
24 Luna Innovations Inc2390.0121 Mesa Air Group Inc135-
33 Luther Burbank Corp3280.0129 Meta Financial Group Inc9740.03
16 Lydall Inc4340.0127 Methode Electronics Inc9490.03
24 LyondellBasell Industries NV2,0420.074 Metropolitan Bank Holding Corp1450.01
41 M&T Bank Corp4,7560.15253 MGIC Investment Corp3,0260.10
14 M/I Homes Inc6560.0212 MGP Ingredients Inc5100.02
26 Macatawa Bank Corp2000.014 MicroStrategy Inc1,4680.05
10 Mackinac Financial Corp125-2 Mid Penn Bancorp Inc40-
64 Macquarie Infrastructure Corp2,0610.0717 Middleby Corp2,3440.08
250 Macy's Inc2,5490.085 Middlefield Banc Corp101-
14 Magellan Health Inc1,0810.0421 Midland States Bancorp Inc3620.01
56 Maiden Holdings Ltd120-14 MidWestOne Financial Group Inc3180.01
2 MainStreet Bancshares Inc37-6 Miller Industries Inc1860.01
10 Malibu Boats Inc5530.023 MIND Technology Inc6-
6 Malvern Bancorp Inc101-26 Minerals Technologies Inc1,5760.05
8 Mammoth Energy Services Inc15-23 Mistras Group Inc120-
10 Manitex International Inc44-34 MKS Instruments Inc4,6970.15
28 Manitowoc Co Inc3110.014 MMA Capital Holdings Inc109-
1 Mannatech Inc14-45 Modine Manufacturing Co4900.02
3 Manning & Napier Inc13-52 Mohawk Industries Inc6,5390.21
40 ManpowerGroup Inc3,4580.11140 Molson Coors Brewing Co6,4450.21
16 ManTech International Corp1,2520.041 Monarch Casino & Resort Inc46-
581 Marathon Oil Corp3,4420.111 Monitronics International Inc8-
109 Marathon Petroleum Corp4,2230.1423 Monro Inc1,0760.04
35 Marchex Inc75-21 Moog Inc1,6270.05
22 Marcus & Millichap Inc7890.03- Morgan Group Holding Co1-
14 Marcus Corp1690.01163 Morgan Stanley10,0840.33
23 MarineMax Inc7430.02267 Mosaic Co5,8740.19
3 Markel Corp2,7990.0917 Motorcar Parts of America Inc3490.01
8 Marlin Business Services Corp86-6 Movado Group Inc104-
30 Marriott Vacations Worldwide Corp3,8270.1265 Mr Cooper Group Inc1,7400.06
38 Marten Transport Ltd6640.0267 MRC Global Inc3870.01
18 Masonite International Corp1,7920.0627 MSC Industrial Direct Co Inc2,2850.07
50 MasTec Inc2,8620.091 MTBC Inc8-
8 Mastech Digital Inc1470.0114 MTS Systems Corp4820.02
3 MasterCraft Boat Holdings Inc74-39 Mueller Industries Inc1,2830.04
88 Matador Resources Co8990.03109 Mueller Water Products Inc1,2910.04
12 Materion Corp7070.02112 Murphy Oil Corp1,1300.04
23 Matrix Service Co2230.015 Murphy USA Inc6380.02
29 Matson Inc1,6830.057 MVB Financial Corp133-
24 Matthews International Corp6390.0225 Myers Industries Inc4260.01
20 Maxar Technologies Inc (Canada listing)5690.0211 MYR Group Inc5720.02
44 Maxar Technologies Inc (US listing)1,2210.0451 Myriad Genetics Inc9030.03
23 MaxLinear Inc7300.026 Nabors Industries Ltd3260.01
55 MBIA Inc3480.012 NACCO Industries Inc62-
17 McGrath RentCorp1,0570.0325 National Bank Holdings Corp7890.03
31 MDC Holdings Inc1,4870.052 National Bankshares Inc69-
132 MDU Resources Group Inc3,3040.1185 National General Holdings Corp2,8930.09
6 Medcath Corp--11 National HealthCare Corp6750.02
66 Media General Inc CVR6-196 National Oilwell Varco Inc2,3970.08


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
米国 65.69% (続き)米国 65.69% (続き)
51 National Vision Holdings Inc2,1850.07108 O-I Glass Inc1,2190.04
3 National Western Life Group Inc5230.0247 Oil States International Inc2110.01
7 Natural Alternatives International Inc66-4 Oil-Dri Corp of America130-
13 Natural Gas Services Group Inc1550.01120 Old National Bancorp1,8970.06
18 Natural Grocers by Vitamin Cottage Inc2660.012 Old Point Financial Corp32-
16 Nature's Sunshine Products Inc2020.01216 Old Republic International Corp3,8760.13
1 Natus Medical Inc19-26 Old Second Bancorp Inc2550.01
22 Nautilus Inc4660.02112 Olin Corp2,4470.08
150 Navient Corp1,4040.0511 Olympic Steel Inc1640.01
34 NBT Bancorp Inc1,0150.03- Omnicell Inc26-
50 NCR Corp1,3820.05247 ON Semiconductor Corp7,1030.23
12 Neenah Inc5620.02100 OneMain Holdings Inc3,8860.13
20 Nelnet Inc1,3750.0427 OneSpan Inc5400.02
28 NeoPhotonics Corp2220.0115 Onto Innovation Inc6420.02
20 NETGEAR Inc6460.02401 OPKO Health Inc1,8620.06
59 NetScout Systems Inc1,3730.0412 Oppenheimer Holdings Inc3630.01
11 NetSol Technologies Inc37-48 OraSure Technologies Inc5740.02
7 Network-1 Technologies Inc20-59 ORBCOMM Inc3370.01
16 New Home Co Inc92-17 Origin Bancorp Inc4380.01
60 New Jersey Resources Corp1,9940.0631 Orion Group Holdings Inc125-
335 New York Community Bancorp Inc3,2420.115 Ormat Technologies Inc (Israel listing)4140.01
248 Newell Brands Inc5,2640.1734 Ormat Technologies Inc (US listing)2,6550.09
64 Newmark Group Inc4510.019 Orrstown Financial Services Inc138-
273 News Corp, Class A4,8130.1613 Orthofix Medical Inc4830.02
141 News Corp, Class B2,5150.0846 Oshkosh Corp3,7060.12
30 NewStar Financial Inc CVR3-12 OSI Systems Inc1,0920.04
23 Nexa Resources SA1850.0124 Otonomy Inc108-
31 Nexstar Media Group Inc3,2140.1040 Overseas Shipholding Group Inc80-
50 NextGen Healthcare Inc8960.0365 Owens & Minor Inc1,6690.05
119 NexTier Oilfield Solutions Inc3330.0182 Owens Corning5,9760.19
10 NI Holdings Inc1770.0112 Oxford Industries Inc6640.02
6 Nicholas Financial Inc49-20 Pacific Mercantile Bancorp100-
6 Nicolet Bankshares Inc4000.0168 Pacific Premier Bancorp Inc1,9650.06
226 Nielsen Holdings PLC3,6550.1242 Packaging Corp of America5,4260.18
2 Nine Energy Service Inc4-83 PacWest Bancorp1,9300.06
18 NL Industries Inc85-4 PAM Transportation Services Inc2030.01
47 NMI Holdings Inc1,0320.0338 Par Pacific Holdings Inc4300.01
36 NN Inc2270.0117 Park Aerospace Corp2190.01
122 Nordic American Tankers Ltd3880.0112 Park National Corp1,1710.04
8 Northeast Bank1690.019 Parke Bancorp Inc129-
7 Northern Technologies International Corp67-13 Park-Ohio Holdings Corp3600.01
46 Northfield Bancorp Inc5070.02291 Parsley Energy Inc3,6410.12
5 Northrim BanCorp Inc1620.0116 Patrick Industries Inc9890.03
97 Northwest Bancshares Inc1,1430.041 Patriot Transportation Holding Inc15-
6 Northwest Pipe Co1770.0170 Patterson Cos Inc1,9430.06
130 Norwegian Cruise Line Holdings Ltd2,9660.10149 Patterson-UTI Energy Inc6420.02
3 Norwood Financial Corp76-93 PBF Energy Inc6780.02
72 NOW Inc4040.0118 PC Connection Inc8230.03
37 Nu Skin Enterprises Inc1,8950.0612 PCB Bancorp131-
173 Nuance Communications Inc7,4690.2415 PCSB Financial Corp2270.01
193 Nucor Corp10,3660.3413 PC-Tel Inc79-
8 NuVasive Inc3520.0179 PDC Energy Inc1,3200.04
7 NV5 Global Inc5290.0227 PDF Solutions Inc5990.02
119 nVent Electric PLC2,7460.09103 PDL BioPharma Inc2600.01
4 Oak Valley Bancorp67-74 Peabody Energy Corp99-
116 Occidental Petroleum Corp1,8290.0618 Peapack Gladstone Financial Corp3910.01
75 Oceaneering International Inc4530.0149 Penn National Gaming Inc3,4600.11
48 OceanFirst Financial Corp7560.024 Penn Virginia Corp34-
1 Ocwen Financial Corp29-6 Penns Woods Bancorp Inc1510.01
37 ODP Corp1,0670.0358 PennyMac Financial Services Inc3,3640.11
41 OFG Bancorp6810.0259 Penske Automotive Group Inc3,2750.11
1 Ohio Valley Banc Corp17-16 Peoples Bancorp Inc3980.01


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
米国 65.69% (続き)米国 65.69% (続き)
3 Peoples Bancorp of North Carolina Inc62-23 Quest Diagnostics Inc2,8350.09
6 Peoples Financial Services Corp2300.0139 QuinStreet Inc6880.02
310 People's United Financial Inc3,8410.122 Qumu Corp10-
10 Perceptron Inc71-254 Qurate Retail Inc2,6550.09
48 Perdoceo Education Corp5470.02145 Radian Group Inc2,7330.09
22 Perficient Inc9950.0337 Radiant Logistics Inc2160.01
33 Performance Food Group Co1,4470.0510 Rafael Holdings Inc2050.01
4 Perma-Fix Environmental Services Inc26-30 Ralph Lauren Corp2,6130.08
9 Perma-Pipe International Holdings Inc51-79 Rambus Inc1,2370.04
90 Perrigo Co PLC4,3290.14- Randolph Bancorp Inc7-
98 Perspecta Inc2,1920.07175 Range Resources Corp1,2800.04
12 PetIQ Inc3380.0111 Raven Industries Inc2650.01
3 PFSweb Inc20-63 Raymond James Financial Inc5,7550.19
38 PGT Innovations Inc7070.0270 Rayonier Advanced Materials Inc4510.01
40 Photronics Inc4660.0213 RBB Bancorp1880.01
15 PHX Minerals Inc25-4 RCI Hospitality Holdings Inc114-
15 PICO Holdings Inc127-2 RCM Technologies Inc4-
81 Pilgrim's Pride Corp1,5370.0516 RE/MAX Holdings Inc4960.02
54 Pinnacle Financial Partners Inc2,9300.1014 Reading International Inc49-
86 Pioneer Natural Resources Co8,6390.2825 RealNetworks Inc39-
11 Piper Jaffray Cos1,0490.0377 Realogy Holdings Corp9460.03
84 Playa Hotels & Resorts NV4280.0116 Red Lion Hotels Corp39-
20 Plexus Corp1,4880.058 Red Robin Gourmet Burgers Inc1670.01
4 Plumas Bancorp92-6 Red Rock Resorts Inc122-
3 Ponce de Leon Federal Bank31-29 Regal Beloit Corp3,4570.11
64 Popular Inc3,0840.109 Regional Management Corp2510.01
45 Post Holdings Inc4,2570.14650 Regions Financial Corp9,9220.32
20 Potbelly Corp93-27 Regis Corp2310.01
11 Powell Industries Inc2720.0148 Reinsurance Group of America Inc5,4860.18
34 PQ Group Holdings Inc4360.0147 Reliance Steel & Aluminum Co5,5670.18
30 PRA Group Inc1,2490.0426 RenaissanceRe Holdings Ltd4,2020.14
11 Preferred Bank4170.0143 Renasant Corp1,3280.04
4 Preformed Line Products Co2700.0130 Renewable Energy Group Inc1,7490.06
11 Premier Financial Bancorp Inc1470.0138 Rent-A-Center Inc1,2850.04
29 Premier Financial Corp6080.0216 Republic Bancorp Inc5560.02
35 Premier Inc1,2450.0418 Republic First Bancorp Inc55-
38 Prestige Consumer Healthcare Inc1,3610.0462 Resideo Technologies Inc1,1440.04
10 PRGX Global Inc66-80 Resolute Forest Products Inc4400.01
21 PriceSmart Inc1,7290.0626 Resources Connection Inc3170.01
- PrimeEnergy Resources Corp4-53 REV Group Inc4890.02
34 Primoris Services Corp8170.034 REX American Resources Corp2900.01
186 Principal Financial Group Inc9,2590.3067 Rexnord Corp2,5090.08
41 ProAssurance Corp6520.026 RF Industries Ltd27-
69 ProPetro Holding Corp4000.0195 Ribbon Communications Inc6550.02
68 Prosperity Bancshares Inc4,2420.1410 Richardson Electronics Ltd45-
1 Protagonist Therapeutics Inc16-19 Ring Energy Inc12-
8 Protective Insurance Corp112-44 Rite Aid Corp5770.02
27 Prothena Corp PLC3110.0120 Riverview Bancorp Inc108-
9 Providence Service Corp1,2580.041 RMR Group Inc22-
13 Provident Bancorp Inc131-3 Rocky Brands Inc96-
6 Provident Financial Holdings Inc91-13 Rogers Corp1,8560.06
47 Provident Financial Services Inc7370.0227 Royal Caribbean Cruises Ltd2,1370.07
8 Prudential Bancorp Inc99-4 Royal Gold Inc4750.02
2 Psychemedics Corp8-51 RPC Inc1570.01
58 PulteGroup Inc2,5520.0825 Rush Enterprises Inc, Class A9480.03
55 PVH Corp4,3850.141 Rush Enterprises Inc, Class B25-
14 QCR Holdings Inc4770.0233 Ryder System Inc1,9260.06
191 QEP Resources Inc3080.0127 Ryerson Holding Corp2900.01
10 Qorvo Inc1,6270.0531 S&T Bancorp Inc6970.02
29 Quad/Graphics Inc90-10 S&W Seed Co26-
19 Quanex Building Products Corp3840.0111 Safety Insurance Group Inc7750.03
104 Quanta Services Inc7,0870.233 Saga Communications Inc59-


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
米国 65.69% (続き)米国 65.69% (続き)
17 Saia Inc3,0490.106 Southern First Bancshares Inc1830.01
- Salisbury Bancorp Inc11-7 Southern Missouri Bancorp Inc2010.01
15 Sanderson Farms Inc2,0860.0719 Southern National Bancorp of Virginia Inc2120.01
41 SandRidge Energy Inc109-24 Southside Bancshares Inc7200.02
30 Sandy Spring Bancorp Inc8890.0394 Southwest Airlines Co4,3650.14
37 Sanmina Corp1,1790.04465 Southwestern Energy Co1,4470.05
137 Santander Consumer USA Holdings Inc3,0370.1017 SP Plus Corp4700.02
19 Savara Inc25-26 SpartanNash Co4910.02
4 SB Financial Group Inc73-31 Spectrum Brands Holdings Inc2,0990.07
15 ScanSource Inc3730.0150 Spirit Airlines Inc1,1280.04
330 Schlumberger Ltd6,8640.227 Spirit of Texas Bancshares Inc102-
60 Schneider National Inc1,2530.0413 Spok Holdings Inc123-
23 Schnitzer Steel Industries Inc5800.0219 Sportsman's Warehouse Holdings Inc2650.01
16 Scholastic Corp3790.0110 Sprouts Farmers Market Inc2150.01
21 Schweitzer-Mauduit International Inc7470.0233 SPX FLOW Inc1,7880.06
21 Science Applications International Corp1,9080.063 SS&C Technologies Holdings Inc1870.01
5 Scorpio Bulkers Inc79-41 St Joe Co1,3470.04
46 Scorpio Tankers Inc5340.0211 Stamps.com Inc2,1150.07
1 Seaboard Corp1,6530.051 Standard AVB Financial Corp41-
29 Seachange International Inc28-16 Standard Motor Products Inc7440.02
31 Seacoast Banking Corp of Florida7720.0310 Standex International Corp7180.02
17 SEACOR Holdings Inc5690.0215 StarTek Inc120-
19 SEACOR Marine Holdings Inc39-33 State Auto Financial Corp4950.02
10 Security National Financial Corp79-9 Steel Connect Inc9-
16 Select Bancorp Inc142-150 Steel Dynamics Inc5,4400.18
44 Select Energy Services Inc1880.0160 Steelcase Inc7280.02
13 Select Interior Concepts Inc98-15 Stepan Co1,7920.06
87 Select Medical Holdings Corp2,0870.0746 Stericycle Inc3,2440.11
38 Selective Insurance Group Inc2,3550.08144 Sterling Bancorp2,2970.07
5 Seneca Foods Corp2300.018 Sterling Bancorp Inc32-
103 Sensata Technologies Holding PLC5,0170.1621 Sterling Construction Co Inc3380.01
29 Sensient Technologies Corp2,0870.0757 Steven Madden Ltd1,8000.06
28 ServiceSource International Inc44-19 Stewart Information Services Corp8070.03
28 ServisFirst Bancshares Inc1,0630.0353 Stifel Financial Corp3,6620.12
8 Severn Bancorp Inc53-16 Stock Yards Bancorp Inc6390.02
86 SFL Corp Ltd5840.0220 Stoneridge Inc5370.02
9 Shoe Carnival Inc3450.0116 StoneX Group Inc9930.03
10 Shore Bancshares Inc140-37 Stratasys Ltd6380.02
27 Shyft Group Inc6880.0213 Strategic Education Inc1,2640.04
13 Sierra Bancorp2870.012 Strattec Security Corp105-
1 SIFCO Industries Inc4-5 Stratus Properties Inc123-
39 Signature Bank4,3570.148 Summit Financial Group Inc1740.01
45 Signet Jewelers Ltd1,3530.0486 Summit Materials Inc1,6310.05
4 SilverBow Resources Inc25-1 Summit State Bank10-
81 Simmons First National Corp1,5870.0555 SunCoke Energy Inc2480.01
66 Simply Good Foods Co1,4450.055 Sundance Energy Inc10-
26 Simpson Manufacturing Co Inc2,4140.0840 Super Micro Computer Inc1,1390.04
87 Skechers U.S.A. Inc2,9280.1012 Superior Group of Cos Inc2600.01
10 Skyline Champion Corp2940.0140 Supernus Pharmaceuticals Inc8590.03
23 SkyWest Inc1,0050.0363 Surgalign Holdings Inc142-
6 Skyworks Solutions Inc7770.0342 Surgery Partners Inc1,0210.03
262 SLM Corp2,7790.0930 SVB Financial Group10,4320.34
93 SM Energy Co3950.0125 Sykes Enterprises Inc9490.03
18 SMART Global Holdings Inc5630.027 Synalloy Corp46-
12 SmartFinancial Inc2150.0123 Synaptics Inc1,8200.06
35 Smith & Wesson Brands Inc5530.02297 Synchrony Financial9,0600.29
37 Snap-on Inc6,5520.2169 Syneos Health Inc4,5360.15
11 Solaris Oilfield Infrastructure Inc76-27 Synlogic Inc64-
74 SolarWinds Corp1,6970.0639 SYNNEX Corp6,2270.20
18 Sonic Automotive Inc7170.02107 Synovus Financial Corp3,3870.11
49 Sonoco Products Co2,8490.0942 Talos Energy Inc3620.01
53 South State Corp3,5130.114 Tandy Leather Factory Inc12-


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
米国 65.69% (続き)米国 65.69% (続き)
172 Tapestry Inc4,8750.1652 TTM Technologies Inc6740.02
18 Targa Resources Corp4300.0139 Tutor Perini Corp5290.02
20 Taro Pharmaceutical Industries Ltd1,4330.0512 Twin Disc Inc74-
97 Taylor Morrison Home Corp2,4420.0821 Tyson Foods Inc1,3790.04
111 TCF Financial Corp3,7280.1242 UFP Industries Inc2,2680.07
30 Team Inc2570.016 UFP Technologies Inc2560.01
240 TechnipFMC PLC1,9980.0627 Ultra Clean Holdings Inc8550.03
7 Tecnoglass Inc39-14 Ultralife Corp97-
14 Teekay Corp32-36 UMB Financial Corp2,4700.08
26 Teekay Tankers Ltd3000.01161 Umpqua Holdings Corp2,2340.07
146 TEGNA Inc2,0990.0781 Under Armour Inc, Class A1,3460.04
22 Tejon Ranch Co3220.0199 Under Armour Inc, Class C1,4370.05
80 Telephone & Data Systems Inc1,5260.056 Unifi Inc85-
48 Terex Corp1,4940.0510 UniFirst Corp1,7920.06
75 Terminix Global Holdings Inc3,6530.124 Unique Fabricating Inc19-
9 Territorial Bancorp Inc1900.01123 United Airlines Holdings Inc5,5420.18
7 TESSCO Technologies Inc44-96 United Bankshares Inc2,8220.09
92 TETRA Technologies Inc74-58 United Community Banks Inc1,3920.05
36 Texas Capital Bancshares Inc2,0230.0719 United Fire Group Inc4080.01
50 Textainer Group Holdings Ltd9160.0339 United Insurance Holdings Corp1740.01
3 TFS Financial Corp53-43 United Natural Foods Inc7380.02
26 Thermon Group Holdings Inc3630.0146 United Rentals Inc10,5480.34
72 Third Point Reinsurance Ltd6860.0212 United Security Bancshares87-
37 Thor Industries Inc3,6070.1229 United States Cellular Corp9040.03
20 Tidewater Inc1850.014 United States Lime & Minerals Inc4720.02
17 Tilly's Inc1520.01121 United States Steel Corp1,7110.06
8 Timberland Bancorp Inc1920.0132 United Therapeutics Corp4,2300.14
49 Timken Co3,6210.128 Unity Bancorp Inc1450.01
35 TimkenSteel Corp1660.01102 Univar Solutions Inc1,8250.06
32 Tiptree Inc1620.0111 Universal Corp4870.02
51 Titan International Inc2580.0111 Universal Electronics Inc5600.02
17 Titan Machinery Inc3030.0145 Universal Health Services Inc5,8970.19
94 Toll Brothers Inc4,4310.1426 Universal Insurance Holdings Inc3600.01
11 Tompkins Financial Corp6820.029 Universal Logistics Holdings Inc2030.01
21 Tootsie Roll Industries Inc6630.027 Universal Stainless & Alloy Products Inc53-
25 TopBuild Corp4,3150.1422 Universal Technical Institute Inc142-
55 Towne Bank1,1980.0426 Univest Financial Corp4670.02
12 Townsquare Media Inc79-148 Unum Group3,2850.11
17 TPI Composites Inc6870.0269 Urban Outfitters Inc1,8870.06
4 TransAct Technologies Inc35-12 US Concrete Inc4420.01
5 Transcat Inc1650.01161 US Foods Holding Corp5,0610.16
390 Transocean Ltd7220.0262 US Silica Holdings Inc2690.01
6 TravelCenters of America Inc2080.014 US Xpress Enterprises Inc30-
21 Trecora Resources144-5 USA Truck Inc47-
20 Tredegar Corp3130.01130 Valero Energy Corp7,0050.23
33 TreeHouse Foods Inc1,3410.04290 Valley National Bancorp2,6500.09
97 TRI Pointe Group Inc1,6890.0514 Valmont Industries Inc2,3070.07
30 Tribune Publishing Co3650.0142 Vanda Pharmaceuticals Inc5130.02
23 TriCo Bancshares7580.0230 Varex Imaging Corp4960.02
31 TriMas Corp8300.039 Vectrus Inc4450.01
84 Trinity Industries Inc1,9160.0633 Veeco Instruments Inc5500.02
25 Trinseo SA9520.0316 Venator Materials PLC41-
60 TripAdvisor Inc1,5770.0549 Veoneer Inc9860.03
21 Triple-S Management Corp4620.0225 Vera Bradley Inc2110.01
24 TriState Capital Holdings Inc3540.0143 Verint Systems Inc2,4250.08
52 Triton International Ltd2,3360.0835 Veritex Holdings Inc7660.03
20 Triumph Bancorp Inc9020.0312 Veritiv Corp2260.01
94 Tronox Holdings PLC1,1890.0430 Verso Corp3230.01
30 TrueBlue Inc5760.0210 Viacom Inc, Class A3590.01
100 TrueCar Inc4100.01322 Viacom Inc, Class B11,3750.37
79 TrustCo Bank Corp NY4800.0214 Viad Corp4170.01
45 Trustmark Corp1,1290.0440 ViaSat Inc1,3620.04


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)		株式数(千)価格
千米ドル		純資産
総額比率
(%)
普通株式(続き)普通株式(続き)
米国 65.69% (続き)米国 65.69% (続き)
363 Viatris Inc6,0980.2032 Zovio Inc119-
9 Village Super Market Inc2040.0114 Zumiez Inc5180.02
2 Virco Manufacturing Corp6-2,030,98965.69
6 Virtus Investment Partners Inc9980.03普通株式合計 99.67% (2019年11月30日:99.93%)3,081,71799.67
20 Virtusa Corp1,0120.03
90 Vishay Intertechnology Inc1,7390.06優先株
10 Vishay Precision Group Inc2810.01ドイツ 0.11%
47 Vista Outdoor Inc9700.037 Biotest AG2010.01
368 Vistra Energy Corp6,8800.225 Draegerwerk AG & Co KGaA4070.01
10 Volt Information Sciences Inc21-30 Jungheinrich AG1,2960.04
19 VOXX International Corp2450.0169 Schaeffler AG5090.02
93 Voya Financial Inc5,3870.178 Sixt SE6090.02
10 VSE Corp3430.012 STO SE & Co KGaA2790.01
39 Wabash National Corp6810.026 Villeroy & Boch AG102-
46 Waddell & Reed Financial Inc7540.023,4030.11
21 Walker & Dunlop Inc1,7150.06イタリア 0.07%
34 Warrior Met Coal Inc6000.0221 Buzzi Unicem SpA3480.01
46 Washington Federal Inc1,0690.0323 Danieli&C Officine Meccaniche SpA2420.01
14 Washington Trust Bancorp Inc5350.023,012 Telecom Italia SpA1,5410.05
25 Waterstone Financial Inc4310.012,1310.07
17 Watts Water Technologies Inc1,9540.06米国 0.04%
3 Wayside Technology Group Inc67-8 Qurate Retail Inc7470.02
60 Webster Financial Corp2,2580.0718 WESCO International Inc5700.02
22 Weis Markets Inc1,0250.031,3170.04
48 Werner Enterprises Inc1,9350.06優先株合計 0.22% (2019年11月30日:0.08%)6,8510.22
52 WesBanco Inc1,4850.05
40 WESCO International Inc2,6310.09不動産投資信託
12 West Bancorporation Inc2300.01イスラエル 0.02%
15 Westamerica Bancorporation8150.0331 Summit Real Estate Holdings Ltd3680.02
68 Western Alliance Bancorp3,4810.113680.02
124 Western Digital Corp5,5450.18日本 0.00%
25 Western New England Bancorp Inc1660.0110 Urbanet Corp Co Ltd25-
133 Westinghouse Air Brake Technologies Corp9,7280.3125-
66 Westlake Chemical Corp4,9350.16不動産投資信託合計 0.02%
196 Westrock Co8,2710.27(2019年11月30日:0.01%)3930.02
7 Westwood Holdings Group Inc82-
10 WEX Inc1,6510.05新株予約権
8 Weyco Group Inc1500.01オーストラリア 0.00%
41 Whirlpool Corp7,9810.2625 Bega Cheese Ltd--
2 White Mountains Insurance Group Ltd2,2170.0710 Galaxy Resources Ltd--
5 Willdan Group Inc1980.01--
2 Willis Lease Finance Corp50-オーストリア 0.00%
142 WillScot Mobile Mini Holdings Corp3,0450.1011 Intercell AG--
27 Winnebago Industries Inc1,4360.05--
41 Wintrust Financial Corp2,2570.07カナダ 0.01%
75 WisdomTree Investments Inc3220.01204 Pan American Silver Corp1410.01
56 Wolverine World Wide Inc1,6240.051410.01
26 Woodward Inc2,9340.10デンマーク 0.00%
6 World Acceptance Corp6660.0216 NKT AS102-
45 World Fuel Services Corp1,2820.04102-
36 Worthington Industries Inc1,8520.06ドイツ 0.00%
317 WPX Energy Inc2,2540.0741 KION Group AG15-
39 WSFS Financial Corp1,4940.0515-
20 Wyndham Hotels & Resorts Inc1,1270.04イタリア 0.00%
152 Xerox Holdings Corp3,3290.113 TXT e-solutions SpA--
68 Xperi Holding Corp1,3050.04--
67 XPO Logistics Inc7,0990.23スウェーデン 0.00%
49 Yelp Inc1,5720.0558 Granges AB86-
24 ZAGG Inc92-86-
121 Zions Bancorp NA4,6640.15新株予約権合計 0.01% (2019年11月30日:0.01%)3440.01
32 Zix Corp2310.01


グローバル・ターゲテッド・バリュー・ファンド
投資明細表 2020年11月30日現在(続き)
株式数(千)価格
千米ドル		純資産
総額比率
(%)
ワラント
シンガポール 0.00%
581 Ezion Holdings Ltd--
--
米国 0.00%
1 LGL Group Inc1-
1-
ワラント合計 0.00%(2019年11月30日:0.00%)1-
投資合計 99.92% (2019年11月30日:100.03%)3,089,30699.92

価格
千米ドル		純資産
総額比率
(%)
現金及び現金同等物 0.24% (2019年11月30日:0.40%)7,4180.24
資産超過におけるその他の負債 (0.16)% (2019年11月30日:(0.43)%)(4,857)(0.16)
純資産合計3,091,867100.00
「-」で表示される数字は0米ドル、500米ドル未満、あるいは500株未満のいずれかを示します。
Amounts designated as “- “ are either $0, less than $500 or less than 500 shares.
総資産の分析 (未監査)純資産
総額比率
(%)
正式な取引所に上場が認められた譲渡可能有価証券98.78
流動資産1.22
資産合計100.00

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