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

Portfolio Characteristics as of 12/31/2017
Median Market Capitalization$0.5 Billion
New Deals for the Quarter16
Closed Deals for the Quarter15
Number of Holdings (Short)17
Number of Holdings (Long)114
Show: Full Holdings (Long| Short) |  Top Holdings
Full Holdings as of 12/31/2017
Long Positions
Security DescriptionCountryShares Par
Value
Current
Price ($)
Market
Value ($)
% of
Portfolio
AKORN INCUS126,13832.234,065,4282.25
ALLSTATE CORP 3.35% 05/15/2037US1,000,00098.75987,5000.55
ALTA MESA HLDGS 7.88% 12/15/2024US950,000109.631,041,4380.58
AMPLIFY SNACK BRANDS INCUS326,07012.013,916,1012.17
AVISTA HEALTHCARUS29010.302,9870.00
AVISTA HEALTHCARE PUBLIC-AUS123,6839.921,226,9350.68
AVISTA HEALTHCARE WTSUS308,182.2886,3220.05
BANCO BILBAO VIZ 9.00% 05/09/2049ES1,200,000102.251,227,0000.68
BARCLAYS PLC 8.25% 06/20/2064GB1,000,000104.831,048,2500.58
BAZAARVOICE INCUS366,0005.451,994,7001.10
BECTON DICKINSON AND COUS6,768214.061,448,6810.80
BIG ROCK PARTNERS ACQUISITIOUS176,00010.211,796,9600.99
BLACK RIDGE ACQU CORP-RTSUS220,000.2861,6000.03
BLACK RIDGE ACQUISITION CORPUS220,0009.662,125,2001.18
BLACK RIDGE-CWUS220,000.3372,6000.04
CALATLANTIC GROUP INCUS41,60056.392,345,8241.30
CALPINE CORPUS138,10015.132,089,4531.16
CAPITOL INVESTMENT CORP IVUS249,40810.002,494,0801.38
CAPITOL INVESTMENT CORP IV-AUS164,7749.691,596,6600.88
CM SEVEN STAR ACQUISITION COHK187,1259.961,863,7651.03
CONSTEL ALP-CW22US721,730.24173,2150.10
CONSTELLATION ALP CAPIT - RUS329,230.33108,6460.06
CONSTELLATION ALPHA CAPITALUS329,2309.723,200,1161.77
CONSUMER DISCRETIONARY SELTUS97398.6996,0250.05
CONSUMER STAPLES SPDRUS11356.896,4290.00
CORESTATES CAPTL 1.99% 02/15/2027US500,00093.50467,5000.26
DELL TECHNOLOGIES INC-CL VUS45,83081.283,725,0622.06
DOUBLE EAGLE-CWUS62,2101.4489,5820.05
DOWNSTREAM DEVEL 10.50% 07/01/2019US915,00098.00896,7000.50
DRAPER OAKWOOD TECHNOLOGY ACUS97,87710.501,027,7090.57
DRAPER OAKWOOD TECHNOLOGY-AUS91,8999.77897,8530.50
DREYFUS-GOV C-INUS21,492,1551.0021,492,15511.89
DYNEGY INCUS247,50611.852,932,9461.62
FEDERAL ACQ-CW22US214,1011.05224,8060.12
FEDERAL STREET ACQUISIT-CL AUS490,6149.714,763,8622.64
FINANCIAL SELECT SECTOR SPDRUS3,91727.91109,3230.06
FINTECH ACQUISITION CORP IIUS426,8259.914,229,8362.34
GIGCAPITAL INC-UNITUS175,00010.001,750,0000.97
GORES HOLDINGS II INC - AUS343,3409.943,412,8001.89
GORES HOLDINGS WTS EXP 3/6US50,4252.01101,3540.06
GP INVESTME-CW22US58,632.3922,8660.01
GSCCRE COMMERCIAL MORTGAGE TRU 4.23% 08/15/2032US1,320,000100.311,324,1480.73
GTY TECHNOUS59,4771.2574,3460.04
GTY TECHNOLOGY HOLDINGS IN-AUS377,1379.933,744,9702.07
GTY TECHNOLOGY HOLDINGS INCUS10,75510.30110,7770.06
HAYMAKER ACQUISITION CORPUS518,0009.905,128,2002.84
HENNESSY CAPITAL ACQUISITIONUS181,41610.351,877,6561.04
HENNESSY CAPITAL ACQUISITIONUS123,6699.801,211,9560.67
IGNYTA INCUS98,30126.702,624,6371.45
INDUSTREA ACQUISITION CORPUS37,17910.06374,0210.21
INDUSTREA ACQUISITION CORP-AUS79,4999.72772,7300.43
INDUSTRIAL SELECT SECT SPDRUS9475.677,1130.00
JPMORGAN CHASE 2.28% 09/30/2034US500,00092.50462,5000.26
JPMORGAN CHASE 2.42% 05/15/2047US500,00089.25446,2500.25
KAYNE ANDER-CW22US141,229.83117,2200.06
KAYNE ANDERSON ACQUISITION CUS9,6569.9696,1740.05
KAYNE ANDERSON ACQUISITION-AUS529,5899.715,142,3092.84
LANDCADIA -CW23US72,900.7051,0300.03
LANDCADIA HOLDINGS INCUS326,3649.943,244,0581.79
LEGACY ACQUISITION CORPUS400,0009.943,976,0002.20
LEISURE ACQUISITION CORPUS160,0009.901,584,0000.88
LENNAR CORP - B SHSUS24,33951.681,257,8400.70
LENNAR CORP-AUS12,90063.24815,7960.45
LIN TELEVISION 5.88% 11/15/2022US1,005,000104.001,045,2000.58
M III ACQUIS WRTS EXP: 10/US43,180.7934,1120.02
M III ACQUISITION CORPUS393,2629.923,901,1592.16
MATLIN AND -CW21US376,292.42158,0430.09
MATLIN AND PARTNERS ACQUIS-AUS467,3959.764,561,7752.52
MEDIA GENERAL INC CVRUS208,090.1020,8090.01
MODERN MEDIA ACQUISITION CORUS164,44110.411,711,8310.95
MOSAIC ACQUISITION CORPUS479,20010.104,839,9202.68
NB-GLOBAL 1.91% 01/15/2027US375,00094.00352,5000.20
NETS A/SDK83,00026.302,183,1191.21
NEXSTAR BROADC 6.13% 02/15/2022US750,000103.50776,2500.43
NXP SEMICONDUCTORS NVNL38,800117.094,543,0922.51
ORBITAL ATK INCUS23,890131.503,141,5351.74
PENSARE ACQUI-CWUS107,893.5559,3410.03
PENSARE ACQUISITION CORPUS325,2869.663,142,2631.74
PENSARE ACQUISITION CORP-RTSUS215,786.4494,9460.05
PUBLIC STORAGEUS11,73025.14294,8920.16
RABOBANK 11.00% 12/29/2049NL1,000,000111.751,117,5000.62
REGAL ENTERTAINMENT GROUP-AUS129,98023.012,990,8401.65
REGALWOOD GLOBAL ENERGY LTDUS160,0009.951,592,0000.88
RITE AID CORPUS525,0021.971,034,2540.57
SABAN CAPITAL ACQUISITION COUS100,17010.521,053,7880.58
SABAN CAPITAL ACQUISITION-AUS272,1039.932,701,9831.49
SCRIPPS NETWORKS INTER-CL AUS24,15085.382,061,9271.14
SENTINEL ENERGY SERVICES INCUS220,0009.972,193,4001.21
SILGAN HOLDINGS 5.50% 02/01/2022US1,000,000102.501,025,0000.57
SILVER RUN ACQUISITION COR-AUS286,8179.912,842,3561.57
SILVER RUN-CW22US214,3331.48317,2130.18
SOCIETE GENERALE 8.25% 05/29/2023FR1,000,000104.631,046,2500.58
SPARTON CORPUS105,00023.062,421,3001.34
SPDR S&P 500 ETF TRUSTUS4,100266.861,094,1260.61
SPY12/29C2650US 01/04/2018US2621.3034,0600.02
STRAIGHT PATH COMM- BUS15,473181.792,812,8371.56
SUCAMPO PHARMACEUTICALS-CL AUS65,70017.951,179,3150.65
SUN-CALL01/18 6.25% 04/15/2021US500,000103.95519,7500.29
TECHNOLOGY SELECT SECT SPDRUS1,43763.9591,8960.05
TIME INCUS232,91018.454,297,1902.38
TIME WARNER INCUS41,20091.473,768,5642.08
TMUS-CALL01/18 6.13% 01/15/2022US500,000103.15515,7500.29
TPG PACE ENERGYUS170,3051.30221,3970.12
TPG PACE ENERGY HOLDINGS - AUS510,9159.744,976,3122.75
TPG PACE HOLD-CWUS146,0111.55226,3170.13
TPG PACE HOLDINGS CORP-CL AUS496,5839.754,841,6842.68
TRIBUNE MEDIA CO - AUS124,51042.475,287,9402.93
VANTAGE ENE-CW24US107,6851.10118,4540.07
VANTAGE ENERGY ACQUISITION CUS210.19200.00
VANTAGE ENERGY ACQUISITION-AUS466,8149.724,537,4322.51
VMW1/19C1250US 01/19/2018US1133.2036,1600.02
VMWARE INC-CLASS AUS1,400125.32175,4480.10
WILLIAMS SCOTSMA 7.88% 12/15/2022US900,000103.00927,0000.51
ZURNVX-CALL01/18 8.25% 01/18/2022IE2,000,000100.232,004,6001.11
Full Holdings as of 12/31/2017
Short Positions
Security DescriptionCountryShares Par
Value
Current
Price ($)
Market
Value ($)
% of
Portfolio
AT&T INCUS-32,96038.88-1,281,485-0.71
BECTON DICKINSON AND COUS-6,768214.06-1,448,758-0.80
ENERGY SELECT SECTOR SPDRUS-2,89272.26-208,976-0.12
HEALTH CARE SELECT SECTORUS-84882.68-70,113-0.04
ISHARES US TELECOMMUNICATIONUS-84129.41-24,734-0.01
LEN1/19P575US 01/19/2018US-46.24-1,1040.00
LEN1/19P600US 01/19/2018US-46.52-2,3920.00
LENNAR CORP - B SHSUS-60751.68-31,370-0.02
LENNAR CORP-AUS-73,44963.24-4,644,915-2.57
MATERIALS SELECT SECTOR SPDRUS-22860.53-13,801-0.01
REAL ESTATE SELECT SECT SPDRUS-1,48932.94-49,048-0.03
SINCLAIR BROADCAST GROUP -AUS-28,63937.85-1,083,986-0.60
SPDR S&P 500 ETF TRUSTUS-30,300266.86-8,085,858-4.47
UTILITIES SELECT SECTOR SPDRUS-6152.68-3,2130.00
VISTRA ENERGY CORPUS-161,38118.32-2,956,500-1.64
VMW12/29P1270US 01/04/2018US-851.37-11,645-0.01
VMWARE INC-CLASS AUS-47,230125.32-5,918,864-3.27
Top 5 Holdings as of 12/31/2017
Long Position
% of
Portfolio
Short Position
% of
Portfolio
1. TRIBUNE MEDIA CO - A2.9
1. SPDR S&P 500
-4.4
2. KAYNE ANDERSON ACQUISITION-A2.8
2. VMWARE INC-CLASS A
-3.2
3. HAYMAKER ACQUISITION CORP2.8
3. LENNAR CORP-A
-2.5
4. TPG PACE ENERGY HOLDINGS - A2.7
4. VISTRA ENERGY CORP
-1.6
5. TPG PACE HOLDINGS CORP-CL A2.6
5. BECTON DICKINSON AND CO
-0.8

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.