BATS | ETF
The Sub-Adviser employs a multi-step, quantitative, rules-based methodology to identify a portfolio of approximately 50 to 200 undervalued international equity securities with the potential for capital appreciation.
A security is considered to be undervalued when it trades at a price below the price at which the Sub-Adviser believes it would trade if the market reflected all factors relating to the company"s worth.
The fund may also invest up to 20% of its assets in cash and cash equivalents, other investment companies, as well as securities and other instruments.
Top 20 Holdings
| Asset | Name | Sector | Industry | Weight |
|---|---|---|---|---|
| BZU | Buzzi Unicem S.p.A. | Basic Materials | Building Materials | 2.16% |
| BHP | BHP Group Ltd | Basic Materials | Other Industrial Metals & Mining | 2.15% |
| LHN | Holcim Ltd | Basic Materials | Building Materials | 2.13% |
| EQNR | Equinor ASA | Energy | Oil & Gas Integrated | 2.11% |
| 4507 | Shionogi & Co. Ltd. | Healthcare | Drug Manufacturers - Specialty & Generic | 2.10% |
| MAERSK-B | A.P. Møller - Mærsk A/S | Industrials | Marine Shipping | 2.10% |
| 8227 | Shimamura Co Ltd | Consumer Cyclical | Apparel Retail | 2.07% |
| MIICF | Millicom International Cellular S.A | Other | Other | 2.06% |
| 9202 | ANA Holdings Inc | Industrials | Airlines | 2.06% |
| EOAN | E.ON SE | Utilities | Utilities - Diversified | 2.05% |
| BS6 | YANGZIJIANG SHIPBLDG HLDGS LTD | Industrials | Aerospace & Defense | 2.05% |
| AKERBP | Aker BP ASA | Energy | Oil & Gas E&P | 2.05% |
| SKF-B | AB SKF (publ) | Industrials | Tools & Accessories | 2.05% |
| 5101 | Yokohama Rubber Co Ltd | Consumer Cyclical | Auto Parts | 2.04% |
| 5334 | Ngk Spark Plug Co Ltd | Consumer Cyclical | Auto Parts | 2.04% |
| TUI1 | TUI AG | Consumer Cyclical | Travel Services | 2.04% |
| CON | Continental Aktiengesellschaft | Consumer Cyclical | Auto Parts | 2.03% |
| WPL | Woodside Petroleum Ltd | Energy | Oil, Gas & Consumable Fuels | 2.03% |
| BOL | Boliden AB | Basic Materials | Other Industrial Metals & Mining | 2.02% |
| HEN3 | Henkel AG & Co. KGaA vz. (Pref Shares) | Consumer Defensive | Household & Personal Products | 2.02% |