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UNION STREET PARTNERS VALUE FUND |
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Schedule of Investments |
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June 30, 2025 (unaudited) |
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Shares |
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Value |
96.61% |
COMMON STOCKS |
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13.72% |
COMMUNICATION SERVICES |
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Meta Platforms, Inc. |
10,600 |
$ |
7,823,754 |
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The Walt Disney Co. |
25,000 |
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3,100,250 |
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10,924,004 |
11.13% |
CONSUMER DISCRETIONARY |
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Home Depot, Inc. |
5,750 |
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2,108,180 |
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LVMH Moët Hennessy Louis Vuitton SE |
15,000 |
|
1,575,900 |
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NIKE, Inc. |
37,500 |
|
2,664,000 |
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Starbucks Corp. |
27,500 |
|
2,519,825 |
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8,867,905 |
10.32% |
CONSUMER STAPLES |
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Diageo plc ADR |
27,050 |
|
2,727,722 |
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Dollar Tree, Inc.(A) |
43,850 |
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4,342,904 |
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Target Corp. |
11,600 |
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1,144,340 |
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8,214,966 |
7.96% |
ENERGY |
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Chevron Corp. |
14,000 |
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2,004,660 |
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Exxon Mobil Corp. |
24,700 |
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2,662,660 |
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Schlumberger Ltd. |
49,500 |
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1,673,100 |
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6,340,420 |
16.01% |
FINANCIALS |
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Bank of America Corp. |
52,350 |
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2,477,202 |
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Goldman Sachs Group, Inc. |
5,300 |
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3,751,075 |
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JPMorgan Chase & Co. |
22,500 |
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6,522,975 |
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12,751,252 |
6.11% |
HEALTH CARE |
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Johnson & Johnson |
14,500 |
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2,214,875 |
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Merck & Company, Inc. |
19,135 |
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1,514,727 |
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UnitedHealth Group, Inc. |
3,640 |
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1,135,571 |
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4,865,173 |
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UNION STREET PARTNERS VALUE FUND |
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Schedule of Investments |
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June 30, 2025 (unaudited) |
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Shares |
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Value |
7.19% |
INDUSTRIALS |
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The Boeing Co(A) |
14,200 |
$ |
2,975,326 |
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FedEx Corp. |
12,100 |
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2,750,451 |
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5,725,777 |
18.06% |
INFORMATION TECHNOLOGY |
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Apple, Inc. |
26,325 |
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5,401,100 |
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Intel Corp.(A) |
61,300 |
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1,373,120 |
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Microsoft Corp. |
15,300 |
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7,610,373 |
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14,384,593 |
3.41% |
REAL ESTATE |
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Simon Property Group, Inc. REIT |
16,900 |
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2,716,844 |
2.70% |
UTILITIES |
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PG&E Corp. |
154,295 |
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2,150,872 |
96.61% |
TOTAL COMMON STOCKS |
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|
76,941,806 |
3.29% |
MONEY MARKET FUND |
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Fidelity Government Portfolio 4.230%(B) |
2,621,204 |
|
2,621,204 |
99.90% |
TOTAL INVESTMENTS |
|
79,563,010 |
0.10% |
Other assets, net of liabilities |
|
77,577 |
100.00% |
NET ASSETS |
$ |
79,640,587 |
(A)Non-income producing
(B)Effective 7 day yield as of June 30,2025
ADR - Security represented is held by the custodian in the form of American Depositary Receipts. REIT - Real Estate Investment Trust
See Notes to Schedule of Investments.
In accordance with U.S. GAAP, "fair value" is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. Various inputs are used
in determining the value of a Fund’s investments. U.S. GAAP established a three-tier hierarchy of inputs to establish a classification of fair value measurements for disclosure purposes. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining fair value of investments).
The inputs or methodology used for valuing securities are not necessarily an |
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indication of the risk associated with investing in those securities. |
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The following summarizes the inputs used to value the Fund’s investments as of June 30, 2025: |
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Level 1 |
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Level 2 |
Level 3 |
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Other |
Significant |
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Significant |
Unobservable |
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Quoted Prices |
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Observable Inputs |
Inputs |
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Total |
COMMON STOCKS |
76,941,806 |
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|
76,941,806 |
MONEY MARKET FUND |
2,621,204 |
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|
2,621,204 |
TOTAL INVESTMENTS |
79,563,010 |
- |
- |
$ |
79,563,010 |
The cost of investments for Federal income tax purposes has been estimated a/o June 30, 2025 since
the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income tax purpose is $39,569,293, and the related net unrealized appreciation (depreciation) consists of:
Gross unrealized appreciation |
$ |
41,086,782 |
Gross unrealized depreciation |
|
(1,093,065) |
Net unrealized appreciation |
$ |
39,993,717 |