Touchstone Merger Arbitrage Fund
Sub-Advised by: Longfellow Investment Management Co.

Portfolio Characteristics as of 3/31/2018
Median Market Capitalization$0.5 Billion
New Deals for the Quarter24
Closed Deals for the Quarter19
Number of Holdings (Short)23
Number of Holdings (Long)115
Show: Full Holdings (Long| Short) |  Top Holdings
Full Holdings as of 3/31/2018
Long Positions
Security DescriptionCountryShares Par
Value
Current
Price ($)
Market
Value ($)
% of
Portfolio
ABLYNX NV - SPONSORED ADRBE39,20054.562,138,7521.14
AKORN INCUS126,13818.712,360,0421.25
ALLSTATE CORP 3.77% 05/15/2037US1,000,00098.50985,0000.52
ALTA MESA HLDGS 7.88% 12/15/2024US950,000104.13989,1880.53
ALTA MESA RESOURCES INCUS229,8998.001,839,1920.98
ALTA MESA RESOURCES INCUS164,4991.55254,9730.14
AVISTA CORPUS46,71351.252,394,0411.27
AVISTA HEALTHCARE PUBLIC-AUS123,6839.991,235,5930.66
AVISTA HEALTHCARE WTSUS308,182.33101,7000.05
BBVASM-CALL05/18 9.00% 05/09/2049ES1,200,000100.541,206,4560.64
BIG ROCK PARTNERS ACQUISITIOUS150,90010.331,558,7970.83
BLACK RIDGE ACQU CORP-RTSUS195,824.3058,7470.03
BLACK RIDGE ACQUISITION CORPUS195,8249.691,897,5351.01
BLACK RIDGE-CWUS195,824.3568,5380.04
BLACKHAWK NETWORK HOLDINGS IUS43,62044.701,949,8141.04
BLUE BUFFALO PET PRODUCTS INUS88,30739.813,515,5021.87
CALLIDUS SOFTWARE INCUS15,65035.95562,6180.30
CAPITOL INVESTMENT CORP IVUS228,57110.102,308,5671.23
CAPITOL INVESTMENT CORP IV-AUS176,3509.681,707,0680.91
CONSTEL ALP-CW22US721,730.24173,2150.09
CONSTELLATION ALP CAPIT - RUS329,230.36118,5230.06
CONSTELLATION ALPHA CAPITALUS329,2309.873,249,5001.73
CONSUMER DISCRETIONARY SELTUS629101.2963,7110.03
CONSUMER STAPLES SPDRUS36452.6319,1570.01
CORESTATES CAPTL 2.41% 02/15/2027US500,00093.75468,7500.25
CSRA INCUS94,18041.233,883,0412.06
DFB HEALTHCARE ACQUISITIONSUS88,25610.05886,9730.47
DOUBLE EAGLE-CWUS54,5601.6791,1150.05
DRAPER OAKWOOD TECHNOLOGY ACUS97,85210.731,049,9520.56
DRAPER OAKWOOD TECHNOLOGY-AUS91,8999.89908,8810.48
DREYFUS-GOV C-INUS22,319,0411.0022,319,04111.87
DST SYSTEMS INCUS46,90983.653,923,9382.09
DYNEGY INCUS303,72313.524,106,3352.18
FEDERAL ACQ-CW22US214,1011.15246,2160.13
FEDERAL STREET ACQUISIT-CL AUS490,6149.674,744,2372.52
FINANCIAL SELECT SECTOR SPDRUS2,35427.5764,9000.03
FINTECH ACQUISITION CORP IIUS379,4139.943,771,3652.01
GIGCAPITAL INC-UNITUS132,94710.381,379,9900.73
GORES HOLDINGS II INC - AUS342,04010.003,420,4001.82
GORES HOLDINGS WTS EXP 3/6US50,4251.7085,7230.05
GP INVESTME-CW22US38,187.6022,9080.01
GSCCRE COMMERCIAL MORTGAGE TRU 4.53% 08/15/2032US1,320,000100.381,324,9750.00
GTY TECHNOUS59,4771.2373,1570.04
GTY TECHNOLOGY HOLDINGS IN-AUS377,1379.913,737,4281.99
HAYMAKER ACQUISITION CORPUS518,4509.955,158,5782.74
HEALTH CARE SELECT SECTORUS19281.4015,6290.01
HENNESSY CAPITAL ACQUISITIONUS122,8699.901,216,4030.65
HENNESSY CAPITAL ACQUISITIONUS163,48710.521,719,8830.91
INDUSTREA ACQUISITION CORPUS12,34410.19125,7850.07
INDUSTREA ACQUISITION CORP-AUS70,4699.81691,3010.37
INDUSTRIAL SELECT SECT SPDRUS70174.2952,0770.03
JPMORGAN CHASE 2.64% 09/30/2034US500,00091.50457,5000.24
KAPSTONE PAPER AND PACKAGINGUS97,98034.313,361,6941.79
KAYNE ANDER-CW22US141,229.93131,3430.07
KAYNE ANDERSON ACQUISITION-AUS529,5899.795,184,6762.76
LANDCADIA -CW23US66,027.7448,5300.03
LANDCADIA HOLDINGS INCUS325,93210.043,272,3571.74
LEGACY ACQUISITION CORPUS400,0009.953,980,0002.12
LEISURE ACQUISITION CORPUS160,0009.871,579,2000.84
LENNAR CORP - B SHSUS24,33947.691,160,7270.62
LENNAR CORP-AUS22,40058.941,320,2560.70
LEO HOLDINGS CORPGB190,00010.001,900,0001.01
MATERIALS SELECT SECTOR SPDRUS6456.943,6440.00
MATLIN AND -CW21US376,292.53199,4350.11
MATLIN AND PARTNERS ACQUIS-AUS467,3959.804,580,4712.44
MEDIA GENERAL INC CVRUS208,090.1020,8090.01
MICROSEMI CORPUS53,11064.723,437,2791.83
MODERN MEDIA ACQUISITION CORUS164,44110.621,746,3630.93
MONSANTO COUS32,540116.693,797,0932.02
MOSAIC ACQUISITION CORPUS479,20010.064,820,7522.56
MUDRICK CAPITAL ACQUISITIONUS165,29610.151,677,7540.89
MULESOFT INC -AUS77,86043.983,424,2831.82
NB-GLOBAL 2.27% 01/15/2027US375,00093.88352,0310.19
NEBULA ACQUISITION CORPUS170,00010.121,720,4000.91
NEXSTAR BROADC 6.13% 02/15/2022US750,000102.72770,4000.41
NXP SEMICONDUCTORS NVNL40,500117.004,738,5002.52
ONE MADISON CORPUS295,00010.002,950,0001.57
ORBITAL ATK INCUS23,890132.613,168,0531.68
PENSARE ACQUI-CWUS107,893.5053,9470.03
PENSARE ACQUISITION CORPUS325,2869.723,161,7801.68
PENSARE ACQUISITION CORP-RTSUS215,786.4597,1040.05
PLATINUM EAGLE ACQUISITION CUS158,82910.151,612,1140.86
RABOBANK 11.00% 12/29/2049NL1,000,000109.351,093,5100.58
REGALWOOD GLOBAL ENERGY LTDUS162,90010.081,642,0320.87
RITE AID CORPUS525,0021.68882,0030.47
ROCKWELL COLLINS INCUS27,790134.853,747,4821.99
RSP PERMIAN INCUS46,95046.882,201,0161.17
SABAN CAPITAL ACQUISITION COUS85,91510.48900,3890.48
SABAN CAPITAL ACQUISITION-AUS272,1039.942,704,7041.44
SENTINEL ENERGY SERVICES INCUS239,5009.922,375,8401.26
SILGAN HOLDINGS 5.50% 02/01/2022US1,000,000101.751,017,5000.54
SOCIAL CAPITAL HEDOSOPHIA HOUS18,52010.57195,7560.10
SPARTON CORPUS105,00017.411,828,0500.97
SPDR S&P 500 ETF TRUSTUS17,200263.154,526,1802.41
SPY3/29P2670US 04/03/2018US864.1135,3460.02
SPY3/29P2750US 04/03/2018US8611.3497,5240.05
SPY4/13P2640US 04/13/2018US704.2529,7500.02
SPY4/20P2670US 04/20/2018US1026.4465,6880.03
SPY4/27P2700US 04/27/2018US788.4766,0660.04
SPY5/04P2600US 05/04/2018US504.3621,8000.01
STUDENT TRANSPORTATION INCCA90,4917.49677,7780.36
TDC A/SDK220,0008.271,819,9580.97
TECHNOLOGY SELECT SECT SPDRUS57465.4237,5510.02
TIBERIUS ACQUISITION CORPUS129,11310.011,292,4210.69
TIME WARNER INCUS41,20094.583,896,6962.07
TPG PACE ENERGYUS170,3051.85315,0640.17
TPG PACE ENERGY HOLDINGS - AUS422,57410.114,272,2232.27
TPG PACE HOLD-CWUS146,0111.55226,3170.12
TPG PACE HOLDINGS CORP-CL AUS484,8199.764,731,8332.52
TRIBUNE MEDIA CO - AUS124,51040.515,043,9002.68
VALIDUS HOLDINGS LTDBM56,07567.453,782,2592.01
VANTAGE ENE-CW24US107,6851.30139,9910.07
VANTAGE ENERGY ACQUISITION-AUS466,8149.794,570,1092.43
WILLIAMS SCOTSMA 7.88% 12/15/2022US900,000103.44930,9380.49
XL GROUP LTDBM68,79555.263,801,6122.02
Full Holdings as of 3/31/2018
Short Positions
Security DescriptionCountryShares Par
Value
Current
Price ($)
Market
Value ($)
% of
Portfolio
AT&T INCUS-32,96035.65-1,175,024-0.62
CONCHO RESOURCES INCUS-15,024150.33-2,258,558-1.20
ENERGY SELECT SECTOR SPDRUS-22967.41-15,437-0.01
ISHARES US TELECOMMUNICATIONUS-23527.02-6,3500.00
LENNAR CORP - B SHSUS-60747.69-28,948-0.02
LENNAR CORP-AUS-36,63258.94-2,159,090-1.15
REAL ESTATE SELECT SECT SPDRUS-4,16431.08-129,417-0.07
SALESFORCE.COM INCUS-5,537116.30-643,953-0.34
SINCLAIR BROADCAST GROUP -AUS-28,63931.30-896,401-0.48
SPDR S&P OIL & GAS EXP & PRUS-42,00035.22-1,479,240-0.79
SPY4/13C2680US 04/13/2018US-701.80-12,600-0.01
SPY4/13P2600US 04/13/2018US-702.70-18,900-0.01
SPY4/20C2700US 04/20/2018US-1021.67-17,034-0.01
SPY4/20P2600US 04/20/2018US-1023.40-34,680-0.02
SPY4/27C2720US 04/27/2018US-781.72-13,416-0.01
SPY4/27P2620US 04/27/2018US-784.02-31,356-0.02
SPY5/04C2700US 05/04/2018US-502.43-12,150-0.01
SPY5/04P2500US 05/04/2018US-501.80-9,0000.00
UNITED TECHNOLOGIES CORPUS-10,429125.82-1,312,177-0.70
UTILITIES SELECT SECTOR SPDRUS-2,28150.53-115,259-0.06
VISTRA ENERGY CORPUS-198,01520.83-4,124,652-2.19
XOP3/29P340US 04/03/2018US-210.01-2100.00
XOP3/29P345US 04/03/2018US-210.01-2100.00
Top 5 Holdings as of 3/31/2018
Long Position
% of
Portfolio
Short Position
% of
Portfolio
1. KAYNE ANDERSON ACQUISITION-A2.8
1. VISTRA ENERGY CORP
-2.2
2. HAYMAKER ACQUISITION CORP2.7
2. CONCHO RESOURCES INC
-1.2
3. TRIBUNE MEDIA CO - A2.7
3. LENNAR CORP-A
-1.2
4. MOSAIC ACQUISITION CORP2.6
4. SPDR S&P OIL & GAS EXP & PR
-0.8
5. FEDERAL STREET ACQUISIT-CL A2.5
5. UNITED TECHNOLOGIES CORP
-0.7

Data may not total due to rounding.

There is no guarantee that the Fund will continue to hold any one particular security or stay invested in any one particular sector. Holdings are subject to change.

The data illustrated for Touchstone Domestic Equity Funds – Morningstar is the source. For Russell index information – the Frank Russell Company is the source and owner. For MSCI index information- the MSCI is the source and owner. The data illustrated for Touchstone Fixed Income Funds, Diversified Income Funds, Alternative Investment Funds, International Equity Funds, Asset Allocation Funds and Money Market Funds – the fund’s sub-advisor is the source. Calculations for sectors and top holdings exclude cash equivalents. All holdings data is sourced from BNY Mellon Asset Servicing.