Aristotle Core Equity Fund
| Ticker: | ARSLX |
| CUSIP: | 461 41Q 360 |
| Inception: | March 31, 2017 |
| Managers: | Owen Fitzpatrick, CFA Thomas Hynes, Jr., CFA Brendan O’Neill, CFA |
| Expense Ratio: | 0.79% (Gross) |
| 0.65% (Net) |
Prospectus | Summary Prospectus | SAI | Fact Sheet
Quarterly Commentaries
Investment Objective
The investment objective of the Aristotle Core Equity Fund (the Fund) is to seek long-term growth of capital.
The Fund’s investment objective is not fundamental and may be changed by the Board of Trustees without shareholders approval, upon at least 60 days’ prior written notice to shareholders. There is no assurance that the Fund will achieve its investment objective. The Fund’s investment strategies and policies may be changed from time to time without shareholder approval or prior written notice, unless specifically stated otherwise in the Prospectus or the Statement of Additional Information (SAI).
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Principal Strategies
Under normal circumstances, the Fund invests at least 80% of its net assets (including amounts borrowed for investment purposes) in equity securities. The Fund’s investments in equity securities may include common stocks, preferred stocks, convertible preferred stocks, depository receipts, shares of publicly traded real estate investment trusts (REITs), warrants and rights. The Fund’s investments in depository receipts may include American, European, and Global Depository Receipts (ADRs, EDRs, and GDRs, respectively). ADRs are receipts that represent interests in foreign securities held on deposit by U.S. banks. EDRs and GDRs have the same qualities as ADRs, except that they may be traded in several international trading markets. Although the Fund may invest in companies of any market capitalization and from any country, it invests primarily in large U.S. companies. The Fund’s investment advisor, Aristotle Atlantic Partners, LLC (the Advisor), applies its investment process to a universe of companies with market capitalizations in excess of $2 billion at initial investment.
In pursuing the Fund’s investment objective, the Advisor employs a fundamental, bottom-up research driven approach to identify companies for investments by the Fund. The Advisor seeks to identify companies that it believes are positioned to benefit from one or more of the following: (i) shifts in industry spending, government spending and consumer trends; (ii) gains in market share from innovative products and strong intellectual property; and (iii) cyclical trends in the industry in which they operate and capable management that can take advantage of those trends. At times, the Fund’s assets may be invested in securities of relatively few industries or sectors.
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Performance
1 The Fund has an inception date of March 31, 2017.
The S&P 500® Index is the Standard & Poor’s Composite Index and is widely regarded as a single gauge of large cap U.S. equities. It is market cap weighted and includes 500 leading companies, capturing approximately 80% coverage of available market capitalization. The volatility (beta) of the Fund may be more or less than the index. It is not possible to invest directly in this index.
The total annual operating expenses are 0.79%, and net operating expenses are 0.65%.
Returns for performance under one year are cumulative, not annualized. Short-term performance, in particular, is not a good indication of the Fund’s future performance, and an investment should not be made based solely on returns. Because of ongoing volatility, fund performance may be subject to substantial short-term changes.
Performance data quoted here represents past performance. Past performance is no guarantee of future results. Investment return and principal value will fluctuate, so that an investor’s shares, when redeemed, may be worth or less than their original cost. Current performance may be lower or higher than the performance information quoted. To obtain performance information current to the most recent month-end, please call (844) 274-7868.
The Fund’s Advisor has contractually agreed to waive certain fees and/or absorb expenses through April 30, 2024 to the extent that the total annual operating expenses do not exceed 0.65% of the Fund’s average daily net assets. The Fund’s Advisor may seek reimbursement from the Fund for waived fees and/or expenses paid for three fiscal years from the date of the waiver or payment. A redemption fee of 1.00% will be imposed on redemptions of shares within 30 days.
Fund Holdings*
| Top Ten Holdings | % of Fund |
|---|---|
| Microsoft | 8.9% |
| Apple | 8.5% |
| Alphabet | 4.6% |
| Amazon.com | 3.8% |
| NVIDIA | 3.6% |
| Becton Dickinson | 2.6% |
| Broadcom | 2.6% |
| JPMorgan Chase | 2.6% |
| AMETEK | 2.6% |
| The Cigna Group | 2.3% |
| Total | 42.1% |
* Top Ten Holdings as of June 30, 2023. Percentage weights are based on the total Fund excluding cash and cash equivalents and are subject to change. For a full list of all holdings, click here.
Quarterly Fund Holdings for the last fiscal year are available via the Annual Report, Semi-Annual Report and Schedule of Investments and can be found here.
Portfolio composition will change due to ongoing management of the Fund. References to specific securities or sectors should not be construed as recommendations by the Fund, its Advisor or Distributor.
An investment in the Fund is subject to risks and you could lose money on your investment in the Fund. The principal risks of investing in the Fund include, but are not limited to, market risk, equity risk, small-cap, mid-cap and large-cap company risk, sector focus risk, recent market events risk, real estate investment trusts (REITs) risk, exchange-traded funds (ETFs) risk, foreign investment risk, warrants and rights risk, preferred stock risk, management and strategy risk and cybersecurity risk.
Market Turbulence Resulting from COVID-19 – The outbreak of COVID-19 has negatively affected the worldwide economy, individual countries, individual companies and the market in general. The future impact of COVID-19 is currently unknown, and it may exacerbate other risks that apply to the Fund. To learn more about the Principal Risks of Investing in the Fund, please reference the prospectus.