STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD COVERED CALL INCOME FUND
 
 
Shares
Value
COMMON STOCKS - 103.8%
 
AEROSPACE & DEFENSE - 3.7%
Boeing Co. (The)(a)
2,500
$554,600
General Dynamics Corp.
2,700
841,347
General Electric Co.
3,600
975,888
Lockheed Martin Corp.
1,300
547,274
RTX Corp.
5,400
850,878
 
3,769,987
AIR FREIGHT & LOGISTICS - 0.9%
FedEx Corp.
2,300
514,027
United Parcel Service, Inc., Class B
5,000
430,800
 
944,827
AUTOMOBILES - 2.1%
General Motors Co.
4,500
240,030
Tesla, Inc.(a)
6,200
1,911,274
 
2,151,304
BANKS - 4.8%
Bank of America Corp.
18,500
874,495
Citigroup, Inc.
7,000
655,900
JPMorgan Chase & Co.
7,100
2,103,304
U.S. Bancorp
10,100
454,096
Wells Fargo & Co.
9,300
749,859
 
4,837,654
BEVERAGES - 2.2%
Coca-Cola Co. (The)
19,800
1,344,222
PepsiCo, Inc.
6,200
855,104
 
2,199,326
BIOTECHNOLOGY - 1.6%
Amgen, Inc.
2,900
855,790
Gilead Sciences, Inc.
6,400
718,656
 
1,574,446
BROADLINE RETAIL - 4.8%
Amazon.com, Inc.(a)
20,900
4,892,899
 
CAPITAL MARKETS - 4.2%
Bank of New York Mellon Corp. (The)
6,400
649,280
Blackrock, Inc.
800
884,808
Charles Schwab Corp. (The)
6,000
586,380
Goldman Sachs Group, Inc. (The)
1,700
1,230,103
Morgan Stanley
6,400
911,744
 
4,262,315
CHEMICALS - 1.4%
Linde PLC
3,000
1,380,780
 
Shares
Value
 
COMMUNICATIONS EQUIPMENT -
1.2%
Cisco Systems, Inc.
18,100
$1,232,248
 
CONSUMER FINANCE - 1.8%
American Express Co.
3,300
987,723
Capital One Financial Corp.
3,700
795,500
 
1,783,223
CONSUMER STAPLES
DISTRIBUTION & RETAIL - 3.1%
Costco Wholesale Corp.
1,500
1,409,460
Target Corp.
3,200
321,600
Walmart, Inc.
14,300
1,401,114
 
3,132,174
DIVERSIFIED
TELECOMMUNICATION
SERVICES - 0.8%
AT&T, Inc.
15,200
416,632
Verizon Communications, Inc.
8,800
376,288
 
792,920
ELECTRIC UTILITIES - 2.6%
Duke Energy Corp.
7,300
887,972
NextEra Energy, Inc.
8,800
625,328
Southern Co. (The)
12,100
1,143,208
 
2,656,508
ELECTRICAL EQUIPMENT - 0.8%
Emerson Electric Co.
5,900
858,509
 
ENTERTAINMENT - 1.9%
Netflix, Inc.(a)
1,100
1,275,340
Walt Disney Co. (The)
5,200
619,372
 
1,894,712
FINANCIAL SERVICES - 5.5%
Berkshire Hathaway, Inc., Class B(a)
4,400
2,076,272
Mastercard, Inc., Class A
2,500
1,416,175
PayPal Holdings, Inc.(a)
4,800
330,048
Visa, Inc., Class A
4,900
1,692,803
 
5,515,298
FOOD PRODUCTS - 0.6%
Mondelez International, Inc., Class A
10,000
646,900
 
GROUND TRANSPORTATION - 0.8%
Union Pacific Corp.
3,600
799,092
See Notes to Schedule of Investments.
1
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD COVERED CALL INCOME FUND
 
Shares
Value
 
HEALTH CARE EQUIPMENT &
SUPPLIES - 2.7%
Abbott Laboratories
6,600
$832,854
Intuitive Surgical, Inc.(a)
2,000
962,180
Medtronic PLC
10,400
938,496
 
2,733,530
HEALTH CARE PROVIDERS &
SERVICES - 0.2%
CVS Health Corp.
4,000
248,400
 
HOTELS, RESTAURANTS &
LEISURE - 2.6%
Booking Holdings, Inc.
200
1,100,812
McDonald's Corp.
3,500
1,050,245
Starbucks Corp.
5,900
526,044
 
2,677,101
HOUSEHOLD PRODUCTS - 1.7%
Colgate-Palmolive Co.
6,600
553,410
Procter & Gamble Co. (The)
8,000
1,203,760
 
1,757,170
INDUSTRIAL CONGLOMERATES -
1.4%
3M Co.
4,400
656,568
Honeywell International, Inc.
3,600
800,460
 
1,457,028
INSURANCE - 1.4%
American International Group, Inc.
8,300
644,329
MetLife, Inc.
10,400
789,880
 
1,434,209
INTERACTIVE MEDIA & SERVICES
- 8.3%
Alphabet, Inc., Class A
13,100
2,513,890
Alphabet, Inc., Class C†
10,600
2,044,316
Meta Platforms, Inc., Class A
4,900
3,789,856
 
8,348,062
IT SERVICES - 1.3%
Accenture PLC, Class A
2,600
694,460
International Business Machines Corp.
2,600
658,190
 
1,352,650
LIFE SCIENCES TOOLS &
SERVICES - 0.8%
Danaher Corp.
4,200
828,072
 
MACHINERY - 1.8%
Caterpillar, Inc.
2,700
1,182,654
Deere & Co.
1,200
629,244
 
1,811,898
 
Shares
Value
MEDIA - 0.6%
Charter Communications, Inc., Class A(a)
400
$107,744
Comcast Corp., Class A
13,500
448,605
 
556,349
OIL, GAS & CONSUMABLE FUELS -
3.1%
Chevron Corp.
6,000
909,840
ConocoPhillips
8,400
800,856
Exxon Mobil Corp.
12,600
1,406,664
 
3,117,360
RETAIL REAL ESTATE
INVESTMENT TRUSTS - 0.8%
Simon Property Group, Inc.
4,700
769,813
 
SEMICONDUCTORS &
SEMICONDUCTOR EQUIPMENT -
12.3%
Advanced Micro Devices, Inc.(a)
6,200
1,093,122
Broadcom, Inc.
10,500
3,083,850
Intel Corp.
18,700
370,260
NVIDIA Corp.
33,200
5,905,284
QUALCOMM, Inc.
6,700
983,292
Texas Instruments, Inc.
5,400
977,724
 
12,413,532
SOFTWARE - 10.9%
Adobe, Inc.(a)
1,800
643,842
Intuit, Inc.
1,100
863,643
Microsoft Corp.
9,500
5,068,250
Oracle Corp.
5,200
1,319,604
Palantir Technologies, Inc., Class A(a)
5,500
870,925
Salesforce, Inc.
4,400
1,136,652
ServiceNow, Inc.(a)
1,200
1,131,744
 
11,034,660
SPECIALIZED REAL ESTATE
INVESTMENT TRUSTS - 0.4%
American Tower Corp.
2,000
416,780
 
SPECIALTY RETAIL - 2.3%
Home Depot, Inc. (The)
3,800
1,396,538
Lowe’s Cos., Inc.
4,100
916,637
 
2,313,175
TECHNOLOGY HARDWARE,
STORAGE & PERIPHERALS -
4.8%
Apple, Inc.
23,200
4,815,624
 
See Notes to Schedule of Investments.
2
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD COVERED CALL INCOME FUND
 
Shares
Value
TEXTILES, APPAREL & LUXURY
GOODS - 0.5%
NIKE, Inc., Class B
6,700
$500,423
 
WIRELESS TELECOMMUNICATION
SERVICES - 1.1%
T-Mobile U.S., Inc.
4,600
1,096,686
 
TOTAL COMMON STOCKS
(COST $99,679,372)
105,007,644

MONEY MARKET FUND - 1.3%
Northern Institutional Treasury Portfolio
(Premier Class), 4.15%(b)
1,282,849
1,282,849
TOTAL MONEY MARKET FUND
(COST $1,282,849)
1,282,849
 
TOTAL INVESTMENTS
(COST $100,962,221) - 105.1%
106,290,493
 
 
 
 
Value
WRITTEN CALL OPTIONS -
(4.2)%
(PREMIUMS RECEIVED
($2,826,642))
$(4,238,401
)
LIABILITIES IN EXCESS OF
OTHER ASSETS - (0.9)%
(920,770
)
NET ASSETS - 100.0%
$101,131,322
 

Securities in this Fund are pledged as collateral for call options written. The
total market value of securities pledged at July 31, 2025 is $102,963,328.
†
Security is not pledged as collateral for call options written.
 
(a)
Non-income producing security.
 
(b)
7-day current yield as of July 31, 2025.
 
PLC — Public Limited Company
See Notes to Schedule of Investments.
3
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD COVERED CALL INCOME FUND
Exchange-traded options written as of July 31, 2025 were as follows: 
Description
Type
Number of
Contracts
Notional
Amount*
Exercise
Price
Expiration
Date
Value
3M Co.
Call
40
$(620,000
)
$155.00
9/19/25
$(11,720
)
Abbott Laboratories
Call
60
(810,000
)
135.00
11/21/25
(16,170
)
Accenture PLC, Class A
Call
20
(600,000
)
300.00
9/19/25
(2,700
)
Adobe, Inc.
Call
15
(607,500
)
405.00
9/19/25
(9,713
)
Advanced Micro Devices, Inc.
Call
50
(900,000
)
180.00
8/15/25
(38,750
)
Alphabet, Inc., Class A
Call
95
(1,710,000
)
180.00
8/15/25
(136,087
)
Amazon.com, Inc.
Call
190
(4,085,000
)
215.00
8/15/25
(403,750
)
American Express Co.
Call
25
(825,000
)
330.00
10/17/25
(11,312
)
American International Group, Inc.
Call
75
(637,500
)
85.00
11/21/25
(11,325
)
Amgen, Inc.
Call
25
(750,000
)
300.00
8/15/25
(12,937
)
Apple, Inc.
Call
210
(4,620,000
)
220.00
8/15/25
(42,000
)
Bank of America Corp.
Call
125
(625,000
)
50.00
10/17/25
(13,125
)
Bank of New York Mellon Corp. (The)
Call
55
(522,500
)
95.00
9/19/25
(44,550
)
BlackRock, Inc.
Call
5
(540,000
)
1,080.00
9/19/25
(24,725
)
Boeing Co. (The)
Call
20
(450,000
)
225.00
8/15/25
(8,080
)
Booking Holdings, Inc.
Call
1
(580,000
)
5,800.00
8/15/25
(1,395
)
Broadcom, Inc.
Call
90
(2,340,000
)
260.00
8/15/25
(321,525
)
Capital One Financial Corp.
Call
35
(770,000
)
220.00
8/15/25
(10,325
)
Caterpillar, Inc.
Call
25
(925,000
)
370.00
8/15/25
(174,875
)
Charles Schwab Corp. (The)
Call
50
(525,000
)
105.00
10/17/25
(10,050
)
Charter Communications, Inc., Class A
Call
4
(120,000
)
300.00
9/19/25
(1,836
)
Chevron Corp.
Call
50
(750,000
)
150.00
8/15/25
(21,125
)
Cisco Systems, Inc.
Call
160
(1,160,000
)
72.50
10/17/25
(22,320
)
Citigroup, Inc.
Call
55
(481,250
)
87.50
9/19/25
(41,745
)
Coca-Cola Co. (The)
Call
190
(1,377,500
)
72.50
11/21/25
(17,480
)
Colgate-Palmolive Co.
Call
60
(540,000
)
90.00
9/19/25
(4,800
)
Comcast Corp., Class A
Call
125
(437,500
)
35.00
9/19/25
(6,563
)
ConocoPhillips
Call
75
(693,750
)
92.50
8/15/25
(33,750
)
Costco Wholesale Corp.
Call
14
(1,428,000
)
1,020.00
9/19/25
(7,700
)
CVS Health Corp.
Call
35
(236,250
)
67.50
8/15/25
(735
)
Danaher Corp.
Call
35
(735,000
)
210.00
9/19/25
(11,550
)
Deere & Co.
Call
10
(550,000
)
550.00
9/19/25
(11,470
)
Duke Energy Corp.
Call
67
(804,000
)
120.00
9/19/25
(27,135
)
Emerson Electric Co.
Call
45
(630,000
)
140.00
9/19/25
(41,850
)
Exxon Mobil Corp.
Call
110
(1,210,000
)
110.00
9/19/25
(50,600
)
FedEx Corp.
Call
20
(500,000
)
250.00
9/19/25
(6,760
)
General Dynamics Corp.
Call
25
(725,000
)
290.00
8/15/25
(58,150
)
General Electric Co.
Call
30
(780,000
)
260.00
8/15/25
(40,620
)
General Motors Co.
Call
35
(183,750
)
52.50
9/19/25
(9,818
)
Gilead Sciences, Inc.
Call
60
(630,000
)
105.00
8/15/25
(51,450
)
Goldman Sachs Group, Inc. (The)
Call
10
(600,000
)
600.00
8/15/25
(124,725
)
Home Depot, Inc. (The)
Call
35
(1,365,000
)
390.00
9/19/25
(17,762
)
Honeywell International, Inc.
Call
25
(550,000
)
220.00
8/15/25
(11,250
)
Intel Corp.
Call
160
(384,000
)
24.00
11/21/25
(12,480
)
International Business Machines Corp.
Call
20
(550,000
)
275.00
10/17/25
(6,200
)
See Notes to Schedule of Investments.
4
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD COVERED CALL INCOME FUND
Description
Type
Number of
Contracts
Notional
Amount*
Exercise
Price
Expiration
Date
Value
Intuit, Inc.
Call
9
$(738,000
)
$820.00
9/19/25
$(18,675
)
Intuitive Surgical, Inc.
Call
15
(787,500
)
525.00
9/19/25
(7,125
)
JPMorgan Chase & Co.
Call
65
(1,820,000
)
280.00
8/15/25
(115,375
)
Linde PLC
Call
25
(1,212,500
)
485.00
8/15/25
(3,600
)
Lockheed Martin Corp.
Call
10
(450,000
)
450.00
9/19/25
(4,200
)
Lowe’s Cos., Inc.
Call
35
(805,000
)
230.00
9/19/25
(21,262
)
Mastercard, Inc., Class A
Call
20
(1,180,000
)
590.00
8/15/25
(3,940
)
McDonald's Corp.
Call
30
(930,000
)
310.00
8/15/25
(8,910
)
Medtronic PLC
Call
95
(807,500
)
85.00
9/19/25
(62,937
)
Meta Platforms, Inc., Class A
Call
40
(2,640,000
)
660.00
8/15/25
(464,100
)
MetLife, Inc.
Call
95
(760,000
)
80.00
9/19/25
(11,305
)
Microsoft Corp.
Call
80
(4,120,000
)
515.00
8/15/25
(180,000
)
Mondelez International, Inc., Class A
Call
95
(641,250
)
67.50
9/19/25
(8,313
)
Morgan Stanley
Call
50
(650,000
)
130.00
9/19/25
(73,000
)
Netflix, Inc.
Call
5
(620,000
)
1,240.00
9/19/25
(9,050
)
NextEra Energy, Inc.
Call
80
(580,000
)
72.50
9/19/25
(15,280
)
NIKE, Inc., Class B
Call
50
(350,000
)
70.00
10/17/25
(38,750
)
NVIDIA Corp.
Call
310
(4,805,000
)
155.00
9/19/25
(832,970
)
Palantir Technologies, Inc., Class A
Call
50
(950,000
)
190.00
10/17/25
(33,250
)
PayPal Holdings, Inc.
Call
40
(310,000
)
77.50
10/17/25
(4,360
)
PepsiCo, Inc.
Call
50
(725,000
)
145.00
10/17/25
(15,200
)
Procter & Gamble Co. (The)
Call
75
(1,200,000
)
160.00
9/19/25
(8,138
)
QUALCOMM, Inc.
Call
60
(960,000
)
160.00
9/19/25
(10,980
)
Raytheon Technologies Corp.
Call
45
(607,500
)
135.00
8/15/25
(103,500
)
Salesforce, Inc.
Call
40
(1,200,000
)
300.00
9/19/25
(11,480
)
ServiceNow, Inc.
Call
5
(570,000
)
1,140.00
9/19/25
(1,650
)
Simon Property Group, Inc.
Call
45
(765,000
)
170.00
9/19/25
(12,825
)
Southern Co. (The)
Call
110
(990,000
)
90.00
8/15/25
(51,700
)
Starbucks Corp.
Call
55
(550,000
)
100.00
10/17/25
(6,133
)
Target Corp.
Call
25
(262,500
)
105.00
8/15/25
(2,775
)
Tesla, Inc.
Call
55
(1,925,000
)
350.00
9/19/25
(46,475
)
Texas Instruments, Inc.
Call
45
(900,000
)
200.00
9/19/25
(6,570
)
T-Mobile U.S., Inc.
Call
40
(1,000,000
)
250.00
9/19/25
(14,000
)
U.S. Bancorp
Call
90
(382,500
)
42.50
8/15/25
(24,525
)
Union Pacific Corp.
Call
25
(575,000
)
230.00
8/15/25
(2,975
)
United Parcel Service, Inc., Class B
Call
45
(427,500
)
95.00
10/17/25
(5,085
)
Verizon Communications, Inc.
Call
80
(360,000
)
45.00
9/19/25
(3,120
)
Visa, Inc., Class A
Call
40
(1,500,000
)
375.00
9/19/25
(6,680
)
Walmart, Inc.
Call
110
(1,100,000
)
100.00
9/19/25
(30,580
)
Walt Disney Co. (The)
Call
40
(520,000
)
130.00
9/19/25
(6,460
)
Wells Fargo & Co.
Call
70
(630,000
)
90.00
10/17/25
(6,160
)
(Premiums received $2,826,642)
$(4,238,401
)
 
*
Notional amount is expressed as the number of contracts multiplied by the exercise price multiplied by 100.
See Notes to Schedule of Investments.
5
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD EQUITY MARKET NEUTRAL FUND
 
 
Shares
Value
COMMON STOCKS - 88.7%
 
AUTOMOBILE COMPONENTS - 2.0%
Aptiv PLC(a)(b)
16,000
$1,098,240
BorgWarner, Inc.(a)
31,000
1,140,800
 
2,239,040
AUTOMOBILES - 0.9%
Harley-Davidson, Inc.(a)
41,000
997,530
 
BANKS - 5.1%
Citigroup, Inc.(a)
11,000
1,030,700
Huntington Bancshares, Inc.(a)
60,000
985,800
M&T Bank Corp.
2,000
377,400
Pinnacle Financial Partners, Inc.
11,000
966,790
Popular, Inc.
5,000
572,900
Synovus Financial Corp.
20,000
944,800
Webster Financial Corp.(a)
17,000
980,050
 
5,858,440
BIOTECHNOLOGY - 2.8%
BioMarin Pharmaceutical, Inc.(a)(b)
18,000
1,041,300
Gilead Sciences, Inc.(a)
9,000
1,010,610
Incyte Corp.(a)(b)
15,000
1,123,350
 
3,175,260
BROADLINE RETAIL - 1.1%
eBay, Inc.
14,000
1,284,500
 
CAPITAL MARKETS - 5.6%
Bank of New York Mellon Corp. (The)(a)
11,000
1,115,950
Cboe Global Markets, Inc.(a)
4,000
964,160
Charles Schwab Corp. (The)(a)
11,000
1,075,030
Janus Henderson Group PLC(a)
24,000
1,039,200
Nasdaq, Inc. (a)
11,000
1,058,420
S&P Global, Inc.(a)
2,000
1,102,200
 
6,354,960
CHEMICALS - 0.9%
Corteva, Inc.(a)
15,000
1,081,950
 
COMMUNICATIONS EQUIPMENT -
2.1%
Cisco Systems, Inc.(a)
16,000
1,089,280
F5, Inc.(a)(b)
4,000
1,253,680
 
2,342,960
CONSTRUCTION & ENGINEERING -
3.0%
AECOM(a)
9,000
1,014,660
 
Shares
Value
EMCOR Group, Inc.(a)
2,000
$1,254,980
MasTec, Inc.(a)(b)
6,000
1,135,260
 
3,404,900
CONSUMER FINANCE - 2.1%
American Express Co.(a)
1,000
299,310
Capital One Financial Corp.(a)
5,000
1,075,000
Synchrony Financial(a)
15,000
1,045,050
 
2,419,360
CONSUMER STAPLES
DISTRIBUTION & RETAIL - 2.8%
Dollar Tree, Inc.(b)
9,000
1,021,950
Sprouts Farmers Market, Inc.(a)(b)
7,000
1,060,780
Walgreens Boots Alliance, Inc.(a)
95,000
1,105,800
 
3,188,530
CONTAINERS & PACKAGING - 0.9%
Crown Holdings, Inc.(a)
10,000
993,600
 
DIVERSIFIED CONSUMER
SERVICES - 2.7%
ADT, Inc.(a)
126,000
1,052,100
Grand Canyon Education, Inc.(a)(b)
6,000
1,011,780
H&R Block, Inc.(a)
19,000
1,032,460
 
3,096,340
DIVERSIFIED
TELECOMMUNICATION
SERVICES - 1.6%
Iridium Communications, Inc.(a)
43,000
1,051,780
Verizon Communications, Inc.(a)
17,700
756,852
 
1,808,632
ELECTRIC UTILITIES - 1.9%
NRG Energy, Inc.(a)
7,000
1,170,400
PG&E Corp.
73,000
1,023,460
 
2,193,860
ELECTRICAL EQUIPMENT - 0.9%
Sensata Technologies Holding PLC
34,000
1,045,840
 
ELECTRONIC EQUIPMENT,
INSTRUMENTS
& COMPONENTS - 3.8%
Arrow Electronics, Inc.(b)
2,000
232,000
Avnet, Inc.(a)
20,000
1,058,800
Flex Ltd.(a)(b)
19,000
947,530
Jabil, Inc.(a)
5,000
1,115,850
Keysight Technologies, Inc.(a)(b)
6,000
983,460
 
4,337,640
See Notes to Schedule of Investments.
6
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD EQUITY MARKET NEUTRAL FUND
 
Shares
Value
ENERGY EQUIPMENT & SERVICES
- 1.7%
Schlumberger N.V.
28,000
$946,400
TechnipFMC PLC
28,000
1,018,360
 
1,964,760
ENTERTAINMENT - 1.8%
Electronic Arts, Inc.
7,000
1,067,430
Warner Bros Discovery, Inc.(b)
72,000
948,240
 
2,015,670
FINANCIAL SERVICES - 2.0%
Mastercard, Inc., Class A(a)
2,100
1,189,587
Visa, Inc., Class A(a)
3,000
1,036,410
 
2,225,997
FOOD PRODUCTS - 0.8%
General Mills, Inc.(a)
18,000
881,640
 
HEALTH CARE PROVIDERS &
SERVICES - 6.0%
Cardinal Health, Inc.(a)
7,000
1,086,540
Cencora, Inc.(a)
4,000
1,144,320
Cigna Group (The)
2,000
534,760
DaVita, Inc.(a)(b)
5,700
800,109
Humana, Inc.(a)
4,000
999,480
McKesson Corp.
1,000
693,540
Molina Healthcare, Inc.(b)
3,000
473,610
Premier, Inc., Class A(a)
52,000
1,116,960
 
6,849,319
HOTELS, RESTAURANTS &
LEISURE - 1.8%
Booking Holdings, Inc.(a)
200
1,100,812
Travel + Leisure Co.(a)
17,000
1,007,250
 
2,108,062
HOUSEHOLD PRODUCTS - 0.9%
Colgate-Palmolive Co.(a)
12,000
1,006,200
 
INSURANCE - 4.8%
Everest Group Ltd.
1,000
335,800
Hartford Insurance Group, Inc. (The)(a)
9,000
1,119,510
MetLife, Inc.(a)
13,000
987,350
Primerica, Inc.(a)
4,000
1,062,520
Progressive Corp. (The)(a)
4,000
968,160
Unum Group(a)
13,300
955,073
 
5,428,413
INTERACTIVE MEDIA & SERVICES
- 0.1%
Match Group, Inc.
3,000
102,810
 
 
Shares
Value
IT SERVICES - 3.3%
GoDaddy, Inc., Class A(a)(b)
3,000
$484,740
International Business Machines Corp.(a)
4,000
1,012,600
Kyndryl Holdings, Inc.(b)
4,000
151,080
Twilio, Inc., Class A(a)(b)
8,000
1,032,000
VeriSign, Inc.
4,000
1,075,480
 
3,755,900
LEISURE PRODUCTS - 1.6%
Mattel, Inc.(a)(b)
52,000
884,520
YETI Holdings, Inc.(a)(b)
26,000
955,240
 
1,839,760
MACHINERY - 1.4%
CNH Industrial N.V.
44,000
570,240
Pentair PLC
10,000
1,022,000
 
1,592,240
PROFESSIONAL SERVICES - 4.0%
Automatic Data Processing, Inc.(a)
3,000
928,500
Concentrix Corp.(a)
17,000
883,490
Genpact Ltd.(a)
23,000
1,013,150
Paycom Software, Inc.(a)
4,000
926,160
Verisk Analytics, Inc.
3,000
836,130
 
4,587,430
REAL ESTATE MANAGEMENT &
DEVELOPMENT - 1.9%
CBRE Group, Inc., Class A(a)(b)
7,000
1,090,180
Jones Lang LaSalle, Inc.(a)(b)
4,000
1,081,440
 
2,171,620
SEMICONDUCTORS &
SEMICONDUCTOR EQUIPMENT -
3.5%
Cirrus Logic, Inc.(a)(b)
11,000
1,107,810
Enphase Energy, Inc.(b)
16,000
517,760
KLA Corp.
1,000
879,030
QUALCOMM, Inc.(a)
7,000
1,027,320
Skyworks Solutions, Inc.
7,000
479,780
 
4,011,700
SOFTWARE - 7.7%
Autodesk, Inc.(a)(b)
3,000
909,330
DocuSign, Inc.(a)(b)
13,000
983,320
Dropbox, Inc., Class A(a)(b)
39,000
1,059,630
Fortinet, Inc.(a)(b)
10,000
999,000
Gen Digital, Inc.(a)
35,000
1,032,150
Intuit, Inc.
1,000
785,130
Nutanix, Inc., Class A(a)(b)
15,000
1,127,550
Salesforce, Inc.(a)
2,000
516,660
Teradata Corp.(b)
8,000
167,440
See Notes to Schedule of Investments.
7
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD EQUITY MARKET NEUTRAL FUND
 
Shares
Value
UiPath, Inc., Class A(b)
11,000
$129,250
Zoom Communications, Inc.(a)(b)
15,000
1,110,750
 
8,820,210
SPECIALTY RETAIL - 1.5%
Bath & Body Works, Inc.
32,000
926,720
Gap, Inc. (The)(a)
41,000
797,860
 
1,724,580
TEXTILES, APPAREL & LUXURY
GOODS - 2.7%
Columbia Sportswear Co.(a)
15,000
848,550
Crocs, Inc.(a)(b)
10,000
997,300
Ralph Lauren Corp.(a)
4,000
1,195,000
 
3,040,850
WIRELESS TELECOMMUNICATION
SERVICES - 1.0%
Millicom International Cellular SA(a)
27,000
1,084,050
 
TOTAL COMMON STOCKS
(COST $92,465,439)
101,034,553

MONEY MARKET FUND - 8.1%
Northern Institutional Treasury Portfolio
(Premier Class), 4.15%(c)
9,180,349
9,180,349
TOTAL MONEY MARKET FUND
(COST $9,180,349)
9,180,349
 
TOTAL INVESTMENTS
(COST $101,645,788) - 96.8%
110,214,902
 
COMMON STOCKS SOLD SHORT - (93.5)%
 
AEROSPACE & DEFENSE - (6.1)%
ATI, Inc.
(11,000
)
(846,340
)
Axon Enterprise, Inc.
(1,000
)
(755,490
)
Boeing Co. (The)
(5,000
)
(1,109,200
)
HEICO Corp., Class A
(4,000
)
(1,032,360
)
Huntington Ingalls Industries, Inc.
(5,000
)
(1,394,300
)
Loar Holdings, Inc.
(10,000
)
(739,100
)
Spirit AeroSystems Holdings, Inc.,
Class A
(27,000
)
(1,063,800
)
 
(6,940,590
)
AUTOMOBILE COMPONENTS - (0.6)%
QuantumScape Corp.
(81,000
)
(696,600
)
 
AUTOMOBILES - (0.5)%
Tesla, Inc.
(2,000
)
(616,540
)
 
BANKS - (0.7)%
Flagstar Financial, Inc.
(70,433
)
(795,189
)
 
 
Shares
Value
BEVERAGES - (1.0)%
Brown-Forman Corp., Class B
(38,000
)
$(1,096,300
)
 
BIOTECHNOLOGY - (4.0)%
Apellis Pharmaceuticals, Inc.
(55,000
)
(1,228,700
)
Exact Sciences Corp.
(20,000
)
(939,000
)
Natera, Inc.
(7,000
)
(935,620
)
Roivant Sciences Ltd.
(85,000
)
(965,600
)
Viking Therapeutics, Inc.
(16,000
)
(521,120
)
 
(4,590,040
)
BROADLINE RETAIL - (0.2)%
Amazon.com, Inc.
(1,000
)
(234,110
)
 
BUILDING PRODUCTS - (3.4)%
AAON, Inc.
(12,000
)
(1,002,000
)
Advanced Drainage Systems, Inc.
(6,000
)
(688,500
)
Builders FirstSource, Inc.
(9,000
)
(1,144,170
)
Trex Co., Inc.
(16,000
)
(1,027,840
)
 
(3,862,510
)
CAPITAL MARKETS - (4.7)%
Blue Owl Capital, Inc.
(47,000
)
(909,450
)
Coinbase Global, Inc., Class A
(3,000
)
(1,133,280
)
Hamilton Lane, Inc., Class A
(7,000
)
(1,066,100
)
Jefferies Financial Group, Inc.
(19,000
)
(1,095,540
)
KKR & Co., Inc.
(5,000
)
(732,900
)
TPG, Inc.
(7,000
)
(399,490
)
 
(5,336,760
)
CHEMICALS - (3.0)%
Air Products and Chemicals, Inc.
(4,000
)
(1,151,520
)
Albemarle Corp.
(3,500
)
(237,475
)
Chemours Co. (The)
(75,000
)
(898,500
)
Westlake Corp.
(14,000
)
(1,110,200
)
 
(3,397,695
)
CONSTRUCTION MATERIALS - (2.0)%
Eagle Materials, Inc.
(5,000
)
(1,121,450
)
Martin Marietta Materials, Inc.
(2,000
)
(1,149,760
)
 
(2,271,210
)
CONSUMER STAPLES DISTRIBUTION & RETAIL - (1.0)%
Grocery Outlet Holding Corp.
(83,000
)
(1,093,110
)
 
CONTAINERS & PACKAGING - (1.7)%
International Paper Co.
(21,000
)
(981,540
)
Packaging Corp. of America
(5,000
)
(968,750
)
 
(1,950,290
)
DIVERSIFIED CONSUMER SERVICES - (0.6)%
Mister Car Wash, Inc.
(123,600
)
(713,790
)
 
See Notes to Schedule of Investments.
8
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD EQUITY MARKET NEUTRAL FUND
 
Shares
Value
ELECTRIC UTILITIES - (0.9)%
IDACORP, Inc.
(8,000
)
$(1,002,640
)
 
ELECTRONIC EQUIPMENT, INSTRUMENTS
& COMPONENTS - (4.0)%
Coherent Corp.
(11,000
)
(1,183,600
)
Crane NXT Co.
(19,000
)
(1,127,460
)
Ingram Micro Holding Corp.
(55,000
)
(1,084,600
)
IPG Photonics Corp.
(15,000
)
(1,123,350
)
 
(4,519,010
)
ENTERTAINMENT - (1.1)%
Madison Square Garden Sports Corp.
(6,000
)
(1,212,600
)
 
FINANCIAL SERVICES - (3.7)%
Block, Inc.
(14,000
)
(1,081,640
)
Rocket Cos., Inc., Class A
(74,000
)
(1,092,980
)
Shift4 Payments, Inc., Class A
(11,000
)
(1,133,000
)
UWM Holdings Corp.
(235,000
)
(944,700
)
 
(4,252,320
)
FOOD PRODUCTS - (1.2)%
Freshpet, Inc.
(7,000
)
(478,240
)
Seaboard Corp.
(300
)
(950,154
)
 
(1,428,394
)
GAS UTILITIES - (1.0)%
Atmos Energy Corp.
(7,000
)
(1,091,440
)
 
GROUND TRANSPORTATION - (3.4)%
Knight-Swift Transportation Holdings,
Inc.
(16,000
)
(680,000
)
Saia, Inc.
(4,000
)
(1,208,960
)
U-Haul Holding Co.
(17,000
)
(983,620
)
XPO, Inc.
(8,000
)
(962,320
)
 
(3,834,900
)
HEALTH CARE EQUIPMENT & SUPPLIES - (2.9)%
Baxter International, Inc.
(37,000
)
(805,120
)
Cooper Cos., Inc. (The)
(15,000
)
(1,060,350
)
Enovis Corp.
(31,000
)
(830,800
)
Inspire Medical Systems, Inc.
(4,000
)
(498,160
)
Novocure Ltd.
(8,200
)
(94,874
)
Tandem Diabetes Care, Inc.
(1,900
)
(29,602
)
 
(3,318,906
)
HEALTH CARE PROVIDERS & SERVICES - (1.3)%
Acadia Healthcare Co., Inc.
(50,000
)
(1,088,500
)
Guardant Health, Inc.
(9,500
)
(389,310
)
 
(1,477,810
)
HOTELS, RESTAURANTS & LEISURE - (7.8)%
Cava Group, Inc.
(12,000
)
(1,056,120
)
 
Shares
Value
Churchill Downs, Inc.
(10,000
)
$(1,070,400
)
DraftKings, Inc., Class A
(26,000
)
(1,171,040
)
Dutch Bros., Inc., Class A
(13,000
)
(770,510
)
Hyatt Hotels Corp., Class A
(7,000
)
(986,790
)
Light & Wonder, Inc.
(11,000
)
(1,059,520
)
Norwegian Cruise Line Holdings Ltd.
(13,000
)
(332,280
)
Starbucks Corp.
(11,000
)
(980,760
)
Texas Roadhouse, Inc.
(6,000
)
(1,110,780
)
Wingstop, Inc.
(1,000
)
(377,340
)
 
(8,915,540
)
HOUSEHOLD DURABLES - (3.7)%
Lennar Corp., Class A
(10,000
)
(1,121,800
)
Newell Brands, Inc.
(155,000
)
(869,550
)
SharkNinja, Inc.
(10,000
)
(1,161,000
)
Somnigroup International, Inc.
(15,000
)
(1,085,700
)
 
(4,238,050
)
INDEPENDENT POWER AND RENEWABLE ELECTRICITY
PRODUCERS - (0.7)%
Talen Energy Corp.
(2,000
)
(755,140
)
 
INDUSTRIAL CONGLOMERATES - (1.0)%
3M Co.
(8,000
)
(1,193,760
)
 
INSURANCE - (0.8)%
Kinsale Capital Group, Inc.
(2,000
)
(881,380
)
 
INTERACTIVE MEDIA & SERVICES - (0.7)%
Trump Media & Technology Group
Corp.
(44,000
)
(773,960
)
 
LIFE SCIENCES TOOLS & SERVICES - (4.9)%
10X Genomics, Inc., Class A
(75,000
)
(1,008,750
)
Bio-Techne Corp.
(16,000
)
(875,680
)
Bruker Corp.
(20,000
)
(768,600
)
Sotera Health Co.
(92,000
)
(1,057,080
)
Tempus AI, Inc.
(17,000
)
(962,030
)
Thermo Fisher Scientific, Inc.
(2,000
)
(935,360
)
 
(5,607,500
)
MACHINERY - (0.3)%
RBC Bearings, Inc.
(1,000
)
(387,340
)
 
MEDIA - (1.9)%
Liberty Broadband Corp., Class A
(18,000
)
(1,100,340
)
Trade Desk (The), Inc., Class A
(12,000
)
(1,043,520
)
 
(2,143,860
)
METALS & MINING - (2.8)%
Cleveland-Cliffs, Inc.
(97,000
)
(1,020,440
)
See Notes to Schedule of Investments.
9
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD EQUITY MARKET NEUTRAL FUND
 
Shares
Value
MP Materials Corp.
(17,000
)
$(1,045,500
)
Nucor Corp.
(8,000
)
(1,144,560
)
 
(3,210,500
)
MULTI-UTILITIES - (1.5)%
CMS Energy Corp.
(7,000
)
(516,600
)
Dominion Energy, Inc.
(20,000
)
(1,169,000
)
 
(1,685,600
)
OIL, GAS & CONSUMABLE FUELS - (2.3)%
Diamondback Energy, Inc.
(7,000
)
(1,040,620
)
Targa Resources Corp.
(3,000
)
(499,230
)
Viper Energy, Inc.
(29,000
)
(1,092,140
)
 
(2,631,990
)
PASSENGER AIRLINES - (0.4)%
JetBlue Airways Corp.
(93,500
)
(415,140
)
 
PERSONAL CARE PRODUCTS - (1.0)%
elf Beauty, Inc.
(9,000
)
(1,090,710
)
 
PROFESSIONAL SERVICES - (1.0)%
Amentum Holdings, Inc.
(46,000
)
(1,148,620
)
 
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - (4.2)%
Allegro MicroSystems, Inc.
(31,000
)
(973,710
)
Astera Labs, Inc.
(9,000
)
(1,230,570
)
Entegris, Inc.
(6,600
)
(517,836
)
First Solar, Inc.
(6,000
)
(1,048,380
)
Onto Innovation, Inc.
(11,000
)
(1,042,250
)
 
(4,812,746
)
SOFTWARE - (3.6)%
C3.ai, Inc., Class A
(10,700
)
(252,092
)
Five9, Inc.
(31,000
)
(800,730
)
MicroStrategy, Inc., Class A
(3,000
)
(1,205,580
)
nCino, Inc.
(9,000
)
(251,325
)
SailPoint, Inc.
(30,000
)
(670,200
)
SentinelOne, Inc., Class A
(51,000
)
(935,340
)
 
(4,115,267
)
 
Shares
Value
SPECIALTY RETAIL - (0.6)%
Floor & Decor Holdings, Inc.
(6,500
)
$(498,160
)
RH
(1,000
)
(205,620
)
 
(703,780
)
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS - (1.0)%
Super Micro Computer, Inc.
(19,000
)
(1,120,430
)
 
TEXTILES, APPAREL & LUXURY GOODS - (2.9)%
Amer Sports, Inc.
(28,000
)
(1,051,120
)
Skechers USA, Inc., Class A
(19,000
)
(1,201,750
)
Under Armour, Inc., Class A
(163,000
)
(1,082,320
)
 
(3,335,190
)
TRADING COMPANIES & DISTRIBUTORS - (1.4)%
FTAI Aviation Ltd.
(8,000
)
(1,100,880
)
Watsco, Inc.
(1,000
)
(450,880
)
 
(1,551,760
)
TOTAL COMMON STOCKS SOLD
SHORT
(PROCEEDS ($101,160,478))
(106,451,017
)
TOTAL SECURITIES SOLD
SHORT
(PROCEEDS ($101,160,478)) -
(93.5)%
(106,451,017
)
OTHER ASSETS IN EXCESS OF
LIABILITIES - 96.7%
110,059,490
NET ASSETS - 100.0%
$113,823,375
 
 
(a)
All or portion of the shares have been pledged as collateral for open
short positions. The total market value of the securities pledged at
July 31, 2025 is $72,160,012.
 
(b)
Non-income producing security.
 
(c)
7-day current yield as of July 31, 2025.
 
N.V. — Naamloze Vennootschap
PLC — Public Limited Company
SA — Societe Anonyme
See Notes to Schedule of Investments.
10
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD GLOBAL EQUITY INCOME FUND
 
Country Diversification
Percent*
United States
56.1
%
Canada
13.6
United Kingdom
7.5
Taiwan
6.3
Ireland (Republic of)
5.9
Brazil
2.4
Spain
1.9
Cayman Islands
1.7
Switzerland
1.6
Philippines
1.4
Netherlands
1.4
Total Investments
99.8
%
 
*
Percentages are based on net assets as of July 31, 2025.
See Notes to Schedule of Investments.
11
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD GLOBAL EQUITY INCOME FUND
 
 
Shares
Value
COMMON STOCKS - 97.9%
 
AEROSPACE & DEFENSE - 1.2%
General Dynamics Corp.
15,694
$4,890,407
 
BANKS - 16.1%
Banco Bilbao Vizcaya Argentaria SA,
Sponsored ADR
468,536
7,838,607
Bank of Nova Scotia (The)
67,775
3,768,968
Canadian Imperial Bank of Commerce
84,868
6,062,970
HSBC Holdings PLC, Sponsored ADR
114,632
7,026,942
Lloyds Banking Group PLC, ADR
1,999,197
8,436,611
NatWest Group PLC, Sponsored ADR
787,973
11,015,862
Regions Financial Corp.
245,111
6,208,662
Royal Bank of Canada
43,733
5,617,941
Toronto-Dominion Bank (The)
84,450
6,154,716
U.S. Bancorp
130,158
5,851,904
 
67,983,183
BEVERAGES - 1.6%
Coca-Cola Co. (The)
99,509
6,755,666
 
BIOTECHNOLOGY - 1.9%
Gilead Sciences, Inc.
71,731
8,054,674
 
BROADLINE RETAIL - 1.7%
MINISO Group Holding Ltd., ADR
368,947
7,050,577
 
BUILDING PRODUCTS - 1.7%
Johnson Controls International PLC
67,242
7,060,410
 
CHEMICALS - 0.9%
Air Products and Chemicals, Inc.
13,350
3,843,198
 
COMMUNICATIONS EQUIPMENT -
1.7%
Cisco Systems, Inc.
106,415
7,244,733
 
CONSUMER STAPLES
DISTRIBUTION & RETAIL - 2.4%
Sysco Corp.
90,839
7,230,784
Target Corp.
31,019
3,117,410
 
10,348,194
ELECTRIC UTILITIES - 1.5%
Fortis, Inc.
130,286
6,380,105
 
 
Shares
Value
ELECTRONIC EQUIPMENT,
INSTRUMENTS
& COMPONENTS - 3.1%
Avnet, Inc.
103,928
$5,501,948
TE Connectivity PLC
36,596
7,529,627
 
13,031,575
ENTERTAINMENT - 1.2%
Warner Music Group Corp., Class A
167,114
4,889,756
 
FOOD PRODUCTS - 0.7%
General Mills, Inc.
60,350
2,955,943
 
GROUND TRANSPORTATION - 1.3%
Canadian National Railway Co.
61,257
5,724,467
 
HEALTH CARE EQUIPMENT &
SUPPLIES - 2.9%
Abbott Laboratories
63,055
7,956,910
Medtronic PLC
47,808
4,314,194
 
12,271,104
HEALTH CARE PROVIDERS &
SERVICES - 3.2%
Cigna Group (The)
32,891
8,794,396
Elevance Health, Inc.
16,368
4,633,453
 
13,427,849
HOTELS, RESTAURANTS &
LEISURE - 2.4%
McDonald's Corp.
33,672
10,103,957
 
INSURANCE - 1.4%
Sun Life Financial, Inc.
95,756
5,841,116
 
IT SERVICES - 6.1%
Accenture PLC, Class A
21,914
5,853,230
Amdocs Ltd.
75,959
6,483,860
Cognizant Technology Solutions Corp.,
Class A
57,828
4,149,737
International Business Machines Corp.
36,622
9,270,859
 
25,757,686
MACHINERY - 1.5%
Snap-on, Inc.
19,500
6,263,205
 
MEDIA - 3.8%
Comcast Corp., Class A
111,919
3,719,068
Interpublic Group of Cos., Inc. (The)
156,735
3,855,681
See Notes to Schedule of Investments.
12
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD GLOBAL EQUITY INCOME FUND
 
Shares
Value
Omnicom Group, Inc.
51,384
$3,702,217
TEGNA, Inc.
292,252
4,880,609
 
16,157,575
OIL, GAS & CONSUMABLE FUELS -
4.2%
Canadian Natural Resources, Ltd.
203,261
6,443,374
Shell PLC, ADR
72,665
5,247,140
Suncor Energy, Inc.
158,942
6,271,851
 
17,962,365
PROFESSIONAL SERVICES - 3.5%
Broadridge Financial Solutions, Inc.
28,084
6,951,071
Paychex, Inc.
55,817
8,056,067
 
15,007,138
RETAIL REAL ESTATE
INVESTMENT TRUSTS - 1.5%
Tanger, Inc.
215,333
6,464,297
 
SEMICONDUCTORS &
SEMICONDUCTOR EQUIPMENT -
14.0%
Analog Devices, Inc.
31,491
7,073,823
ASE Industrial Holding Co. Ltd., ADR
804,777
7,645,382
Broadcom, Inc.
44,190
12,978,603
NXP Semiconductors N.V.
27,795
5,941,737
QUALCOMM, Inc.
42,928
6,300,113
Taiwan Semiconductor Manufacturing
Co. Ltd., Sponsored ADR
63,875
15,433,478
United Microelectronics Corp.,
Sponsored ADR
545,983
3,734,524
 
59,107,660
SOFTWARE - 1.3%
Open Text Corp.
183,306
5,394,696
 
SPECIALIZED REAL ESTATE
INVESTMENT TRUSTS - 0.9%
Rayonier, Inc.
171,709
4,002,537
 
SPECIALTY RETAIL - 5.5%
Gap, Inc. (The)
414,127
8,058,911
Home Depot, Inc. (The)
15,172
5,575,862
Signet Jewelers Ltd.
123,532
9,771,381
 
23,406,154
TECHNOLOGY HARDWARE,
STORAGE & PERIPHERALS -
5.8%
Hewlett Packard Enterprise Co.
316,263
6,543,482
 
Shares
Value
HP, Inc.
208,845
$5,179,356
Logitech International SA
73,788
6,853,429
NetApp, Inc.
56,315
5,864,081
 
24,440,348
WIRELESS TELECOMMUNICATION
SERVICES - 2.9%
PLDT, Inc., ADR
258,047
5,955,725
TIM SA, ADR
339,217
6,234,808
 
12,190,533
TOTAL COMMON STOCKS
(COST $334,898,863)
414,011,108

MONEY MARKET FUND - 1.0%
Northern Institutional Treasury Portfolio
(Premier Class), 4.15%(a)
4,088,511
4,088,511
TOTAL MONEY MARKET FUND
(COST $4,088,511)
4,088,511
PREFERRED STOCKS - 0.9%
 
ELECTRIC UTILITIES - 0.9%
Cia Energetica de Minas Gerais,
Sponsored ADR, 3.21%(b)
2,208,099
3,996,659
TOTAL PREFERRED STOCKS
(COST $4,373,793)
3,996,659
 
TOTAL INVESTMENTS
(COST $343,361,167) - 99.8%
422,096,278
 
OTHER ASSETS IN EXCESS OF
LIABILITIES - 0.2%
680,371
NET ASSETS - 100.0%
$422,776,649
 
 
(a)
7-day current yield as of July 31, 2025.
 
(b)
Current yield. Dividends are calculated based on a percentage of the
issuer’s net income.
 
ADR — American Depositary Receipt
N.V. — Naamloze Vennootschap
PLC — Public Limited Company
SA — Societe Anonyme
See Notes to Schedule of Investments.
13
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD LARGE CAP CORE FUND
 
 
Shares
Value
COMMON STOCKS - 99.9%
 
AUTOMOBILE COMPONENTS - 2.1%
Aptiv PLC(a)
27,000
$1,853,280
BorgWarner, Inc.
52,000
1,913,600
 
3,766,880
AUTOMOBILES - 0.7%
Harley-Davidson, Inc.
13,100
318,723
Tesla, Inc.(a)
3,000
924,810
 
1,243,533
BANKS - 3.9%
Citigroup, Inc.
25,000
2,342,500
JPMorgan Chase & Co.
3,000
888,720
PNC Financial Services Group, Inc.
(The)
9,000
1,712,430
Popular, Inc.
16,000
1,833,280
 
6,776,930
BIOTECHNOLOGY - 1.3%
Gilead Sciences, Inc.
20,000
2,245,800
 
BROADLINE RETAIL - 3.9%
Amazon.com, Inc.(a)
21,000
4,916,310
eBay, Inc.
20,000
1,835,001
 
6,751,311
CAPITAL MARKETS - 7.8%
Ameriprise Financial, Inc.
3,000
1,554,570
Bank of New York Mellon Corp. (The)
20,000
2,029,000
Charles Schwab Corp. (The)
24,000
2,345,520
Goldman Sachs Group, Inc. (The)
3,000
2,170,770
Janus Henderson Group PLC
43,000
1,861,900
S&P Global, Inc.
4,000
2,204,400
XP, Inc.
96,000
1,549,440
 
13,715,600
CHEMICALS - 1.1%
Corteva, Inc.
26,000
1,875,380
 
COMMUNICATIONS EQUIPMENT -
2.5%
Cisco Systems, Inc.
38,000
2,587,040
F5, Inc.(a)
6,000
1,880,520
 
4,467,560
CONSTRUCTION & ENGINEERING -
2.1%
AECOM
16,000
1,803,840
EMCOR Group, Inc.
3,000
1,882,470
 
3,686,310
 
Shares
Value
CONSUMER FINANCE - 4.5%
American Express Co.
7,000
$2,095,170
Capital One Financial Corp.
9,999
2,149,785
SLM Corp.
56,000
1,780,800
Synchrony Financial
26,000
1,811,420
 
7,837,175
CONSUMER STAPLES
DISTRIBUTION & RETAIL - 0.7%
Walgreens Boots Alliance, Inc.
104,000
1,210,560
 
CONTAINERS & PACKAGING - 0.2%
Crown Holdings, Inc.
3,000
298,080
 
DIVERSIFIED CONSUMER
SERVICES - 0.7%
H&R Block, Inc.
23,000
1,249,820
 
DIVERSIFIED
TELECOMMUNICATION
SERVICES - 2.0%
Iridium Communications, Inc.
71,000
1,736,660
Verizon Communications, Inc.
43,000
1,838,680
 
3,575,340
ELECTRIC UTILITIES - 0.8%
NRG Energy, Inc.
8,000
1,337,600
 
ELECTRONIC EQUIPMENT,
INSTRUMENTS
& COMPONENTS - 3.6%
Avnet, Inc.
16,000
847,040
Flex Ltd.(a)
36,000
1,795,320
Jabil, Inc.
8,000
1,785,360
Keysight Technologies, Inc.(a)
11,000
1,803,010
 
6,230,730
ENERGY EQUIPMENT & SERVICES
- 0.7%
TechnipFMC PLC
32,000
1,163,840
 
ENTERTAINMENT - 1.0%
Electronic Arts, Inc.
12,000
1,829,880
 
FINANCIAL SERVICES - 4.5%
Berkshire Hathaway, Inc., Class B(a)
2,000
943,760
Mastercard, Inc., Class A
6,000
3,398,820
Visa, Inc., Class A
10,000
3,454,700
 
7,797,280
See Notes to Schedule of Investments.
14
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD LARGE CAP CORE FUND
 
Shares
Value
HEALTH CARE PROVIDERS &
SERVICES - 5.4%
Cardinal Health, Inc.
12,000
$1,862,640
Cigna Group (The)
7,000
1,871,660
DaVita, Inc.(a)
3,200
449,183
Elevance Health, Inc.
1,000
283,080
Humana, Inc.
4,000
999,480
McKesson Corp.
3,000
2,080,620
Molina Healthcare, Inc.(a)
6,000
947,220
Premier, Inc., Class A
45,000
966,600
 
9,460,483
HOTELS, RESTAURANTS &
LEISURE - 1.3%
Booking Holdings, Inc.
400
2,201,624
 
HOUSEHOLD PRODUCTS - 1.6%
Colgate-Palmolive Co.
17,000
1,425,450
Kimberly-Clark Corp.
11,000
1,370,820
 
2,796,270
INSURANCE - 3.3%
Aflac, Inc.
9,000
894,240
Hartford Insurance Group, Inc. (The)
14,000
1,741,460
MetLife, Inc.
15,300
1,162,035
Progressive Corp. (The)
8,000
1,936,320
 
5,734,055
INTERACTIVE MEDIA & SERVICES
- 4.3%
Alphabet, Inc., Class A
23,000
4,413,700
Meta Platforms, Inc., Class A
4,000
3,093,760
 
7,507,460
IT SERVICES - 1.3%
International Business Machines Corp.
9,000
2,278,350
 
LEISURE PRODUCTS - 1.4%
Mattel, Inc.(a)
44,000
748,440
YETI Holdings, Inc.(a)
45,000
1,653,300
 
2,401,740
MEDIA - 1.1%
Comcast Corp., Class A
60,000
1,993,800
 
PROFESSIONAL SERVICES - 2.3%
Automatic Data Processing, Inc.
7,000
2,166,500
Genpact Ltd.
41,000
1,806,050
 
3,972,550
 
Shares
Value
REAL ESTATE MANAGEMENT &
DEVELOPMENT - 2.1%
CBRE Group, Inc., Class A(a)
12,000
$1,868,880
Jones Lang LaSalle, Inc.(a)
7,000
1,892,520
 
3,761,400
SEMICONDUCTORS &
SEMICONDUCTOR EQUIPMENT -
9.7%
Broadcom, Inc.
8,000
2,349,600
Cirrus Logic, Inc.(a)
17,000
1,712,070
NVIDIA Corp.
60,000
10,672,200
QUALCOMM, Inc.
15,000
2,201,400
 
16,935,270
SOFTWARE - 13.6%
Adobe, Inc.(a)
6,000
2,146,140
Autodesk, Inc.(a)
3,000
909,330
Dolby Laboratories, Inc., Class A
22,000
1,657,480
Dropbox, Inc., Class A(a)
52,000
1,412,840
Fortinet, Inc.(a)
19,000
1,898,100
Gen Digital, Inc.
59,000
1,739,910
Intuit, Inc.
3,000
2,355,390
Microsoft Corp.
19,000
10,136,500
Nutanix, Inc., Class A(a)
21,000
1,578,570
 
23,834,260
SPECIALTY RETAIL - 0.7%
Gap, Inc. (The)
60,000
1,167,600
 
TECHNOLOGY HARDWARE,
STORAGE & PERIPHERALS -
4.3%
Apple, Inc.
36,000
7,472,520
 
TEXTILES, APPAREL & LUXURY
GOODS - 2.4%
Columbia Sportswear Co.
23,000
1,301,110
Crocs, Inc.(a)
11,000
1,097,030
Ralph Lauren Corp.
6,000
1,792,500
 
4,190,640
WIRELESS TELECOMMUNICATION
SERVICES - 1.0%
Millicom International Cellular SA
45,000
1,806,750
 
TOTAL COMMON STOCKS
(COST $146,080,165)
174,574,381
See Notes to Schedule of Investments.
15
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD LARGE CAP CORE FUND
 
Shares
Value

MONEY MARKET FUND - 0.1%
Northern Institutional Treasury Portfolio
(Premier Class), 4.15%(b)
258,520
$258,520
TOTAL MONEY MARKET FUND
(COST $258,520)
258,520
 
TOTAL INVESTMENTS
(COST $146,338,685) - 100.0%
174,832,901
 
LIABILITIES IN EXCESS OF
OTHER ASSETS - 0.0%
(79,663
)
NET ASSETS - 100.0%
$174,753,238
 
 
(a)
Non-income producing security.
 
(b)
7-day current yield as of July 31, 2025.
 
PLC — Public Limited Company
SA — Societe Anonyme
See Notes to Schedule of Investments.
16
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD LARGE CAP GROWTH FUND
 
 
Shares
Value
COMMON STOCKS - 99.9%
 
AUTOMOBILES - 1.9%
Tesla, Inc.(a)
13,000
$4,007,510
 
BEVERAGES - 0.5%
Monster Beverage Corp.(a)
17,000
998,750
 
BIOTECHNOLOGY - 1.9%
Exelixis, Inc.(a)
59,000
2,136,980
Incyte Corp.(a)
25,000
1,872,250
 
4,009,230
BROADLINE RETAIL - 4.3%
Amazon.com, Inc.(a)
39,000
9,130,290
 
CAPITAL MARKETS - 1.0%
Ameriprise Financial, Inc.
4,000
2,072,760
 
CONSTRUCTION & ENGINEERING -
2.3%
EMCOR Group, Inc.
4,000
2,509,960
MasTec, Inc.(a)
12,000
2,270,520
 
4,780,480
CONSUMER FINANCE - 0.9%
American Express Co.
3,000
897,930
Synchrony Financial
15,300
1,065,951
 
1,963,881
CONSUMER STAPLES
DISTRIBUTION & RETAIL - 1.4%
Costco Wholesale Corp.
800
751,712
Sprouts Farmers Market, Inc.(a)
14,000
2,121,560
 
2,873,272
DIVERSIFIED CONSUMER
SERVICES - 1.7%
Grand Canyon Education, Inc.(a)
13,000
2,192,190
H&R Block, Inc.
26,000
1,412,840
 
3,605,030
DIVERSIFIED
TELECOMMUNICATION
SERVICES - 1.0%
Iridium Communications, Inc.
86,000
2,103,560
 
ELECTRIC UTILITIES - 1.1%
NRG Energy, Inc.
14,000
2,340,800
 
ELECTRONIC EQUIPMENT,
INSTRUMENTS
& COMPONENTS - 1.0%
Jabil, Inc.
10,000
2,231,700
 
Shares
Value
 
ENTERTAINMENT - 0.8%
Netflix, Inc.(a)
1,400
$1,623,160
 
FINANCIAL SERVICES - 6.3%
Mastercard, Inc., Class A
10,000
5,664,700
PayPal Holdings, Inc.(a)
21,000
1,443,960
Visa, Inc., Class A
18,000
6,218,460
 
13,327,120
HEALTH CARE EQUIPMENT &
SUPPLIES - 0.8%
ResMed, Inc.
6,000
1,631,640
 
HEALTH CARE PROVIDERS &
SERVICES - 2.6%
Cardinal Health, Inc.
14,000
2,173,080
Cigna Group (The)
4,000
1,069,520
DaVita, Inc.(a)
11,000
1,544,070
McKesson Corp.
1,000
693,540
 
5,480,210
HEALTH CARE TECHNOLOGY -
1.1%
Veeva Systems, Inc., Class A(a)
8,000
2,273,600
 
HOTELS, RESTAURANTS &
LEISURE - 1.6%
Booking Holdings, Inc.
600
3,302,436
 
HOUSEHOLD PRODUCTS - 0.3%
Kimberly-Clark Corp.
5,000
623,100
 
INSURANCE - 1.9%
Allstate Corp. (The)
10,000
2,032,500
Progressive Corp. (The)
8,000
1,936,320
 
3,968,820
INTERACTIVE MEDIA & SERVICES
- 8.1%
Alphabet, Inc., Class A
37,000
7,100,300
Meta Platforms, Inc., Class A
10,000
7,734,400
Pinterest, Inc., Class A(a)
57,000
2,200,200
 
17,034,900
IT SERVICES - 3.9%
GoDaddy, Inc., Class A(a)
13,000
2,100,540
Okta, Inc.(a)
22,000
2,151,600
Twilio, Inc., Class A(a)
16,000
2,064,000
VeriSign, Inc.
7,000
1,882,090
 
8,198,230
See Notes to Schedule of Investments.
17
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD LARGE CAP GROWTH FUND
 
Shares
Value
MEDIA - 1.0%
Nexstar Media Group, Inc.
11,000
$2,058,210
 
PROFESSIONAL SERVICES - 3.0%
Genpact Ltd.
34,000
1,497,700
Paycom Software, Inc.
10,000
2,315,400
Robert Half, Inc.
8,000
295,280
Verisk Analytics, Inc.
8,000
2,229,680
 
6,338,060
REAL ESTATE MANAGEMENT &
DEVELOPMENT - 1.6%
CBRE Group, Inc., Class A(a)
9,400
1,463,956
Jones Lang LaSalle, Inc.(a)
7,000
1,892,520
 
3,356,476
SEMICONDUCTORS &
SEMICONDUCTOR EQUIPMENT -
18.6%
Broadcom, Inc.
25,000
7,342,500
KLA Corp.
3,000
2,637,090
NVIDIA Corp.
151,000
26,858,370
QUALCOMM, Inc.
16,000
2,348,160
 
39,186,120
SOFTWARE - 19.1%
Autodesk, Inc.(a)
9,000
2,727,990
DocuSign, Inc.(a)
29,000
2,193,560
Dropbox, Inc., Class A(a)
62,000
1,684,540
Dynatrace, Inc.(a)
38,000
1,999,180
Fortinet, Inc.(a)
25,000
2,497,500
Gen Digital, Inc.
60,000
1,769,400
Intuit, Inc.
5,000
3,925,650
Microsoft Corp.
28,000
14,938,000
Nutanix, Inc., Class A(a)
29,000
2,179,930
Oracle Corp.
3,000
761,310
Palantir Technologies, Inc., Class A(a)
2,000
316,700
Pegasystems, Inc.
12,000
704,520
Salesforce, Inc.
8,000
2,066,640
UiPath, Inc., Class A(a)
167,000
1,962,250
Workday, Inc., Class A(a)
2,000
458,760
 
40,185,930
SPECIALIZED REAL ESTATE
INVESTMENT TRUSTS - 1.0%
American Tower Corp.
10,000
2,083,900
 
SPECIALTY RETAIL - 1.0%
Williams-Sonoma, Inc.
11,000
2,057,550
 
 
Shares
Value
TECHNOLOGY HARDWARE,
STORAGE & PERIPHERALS -
5.4%
Apple, Inc.
55,000
$11,416,350
 
TEXTILES, APPAREL & LUXURY
GOODS - 2.8%
Crocs, Inc.(a)
12,000
1,196,760
Ralph Lauren Corp.
8,000
2,390,000
Tapestry, Inc.
22,000
2,376,660
 
5,963,420
TOTAL COMMON STOCKS
(COST $170,926,106)
210,226,495

MONEY MARKET FUND - 0.1%
Northern Institutional Treasury Portfolio
(Premier Class), 4.15%(b)
254,925
254,925
TOTAL MONEY MARKET FUND
(COST $254,925)
254,925
 
TOTAL INVESTMENTS
(COST $171,181,031) - 100.0%
210,481,420
 
OTHER ASSETS IN EXCESS OF
LIABILITIES - 0.0%
45,948
NET ASSETS - 100.0%
$210,527,368
 
 
(a)
Non-income producing security.
 
(b)
7-day current yield as of July 31, 2025.
See Notes to Schedule of Investments.
18
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD LARGE CAP VALUE FUND
 
 
Shares
Value
COMMON STOCKS - 99.5%
 
AIR FREIGHT & LOGISTICS - 0.2%
C.H. Robinson Worldwide, Inc.
1,900
$219,108
 
AUTOMOBILE COMPONENTS - 2.2%
Aptiv PLC(a)
14,200
974,688
BorgWarner, Inc.
27,800
1,023,040
 
1,997,728
AUTOMOBILES - 0.9%
Harley-Davidson, Inc.
34,200
832,086
 
BANKS - 11.2%
Bank of America Corp.
40,400
1,909,708
Citigroup, Inc.
15,700
1,471,090
JPMorgan Chase & Co.
6,800
2,014,432
PNC Financial Services Group, Inc.
(The)
6,000
1,141,620
Popular, Inc.
8,700
996,846
U.S. Bancorp
24,500
1,101,520
Wells Fargo & Co.
22,300
1,798,049
 
10,433,265
BIOTECHNOLOGY - 3.4%
Amgen, Inc.
3,700
1,091,870
Gilead Sciences, Inc.
11,500
1,291,335
Incyte Corp.(a)
10,300
771,367
 
3,154,572
BROADLINE RETAIL - 2.0%
Amazon.com, Inc.(a)
4,700
1,100,317
eBay, Inc.
2,600
238,550
Macy's, Inc.
40,400
510,252
 
1,849,119
CAPITAL MARKETS - 7.7%
Bank of New York Mellon Corp. (The)
11,000
1,115,950
Charles Schwab Corp. (The)
2,400
234,552
CME Group, Inc.
4,100
1,140,948
Goldman Sachs Group, Inc. (The)
2,300
1,664,257
Janus Henderson Group PLC
16,200
701,460
S&P Global, Inc.
2,700
1,487,970
XP, Inc.
48,400
781,176
 
7,126,313
COMMERCIAL SERVICES &
SUPPLIES - 0.5%
Republic Services, Inc.
1,900
438,235
 
Shares
Value
 
COMMUNICATIONS EQUIPMENT -
3.1%
Cisco Systems, Inc.
27,000
$1,838,160
F5, Inc.(a)
3,300
1,034,286
 
2,872,446
CONSUMER FINANCE - 4.1%
American Express Co.
4,100
1,227,171
Capital One Financial Corp.
6,400
1,376,000
SLM Corp.
3,400
108,120
Synchrony Financial
15,100
1,052,017
 
3,763,308
CONSUMER STAPLES
DISTRIBUTION & RETAIL - 0.8%
Walgreens Boots Alliance, Inc.
31,800
370,152
Walmart, Inc.
3,600
352,728
 
722,880
CONTAINERS & PACKAGING - 0.1%
Crown Holdings, Inc.
1,100
109,296
 
DIVERSIFIED CONSUMER
SERVICES - 1.7%
ADT, Inc.
69,200
577,820
Grand Canyon Education, Inc.(a)
2,900
489,027
H&R Block, Inc.
10,300
559,702
 
1,626,549
DIVERSIFIED
TELECOMMUNICATION
SERVICES - 4.1%
AT&T, Inc.
57,300
1,570,593
Iridium Communications, Inc.
29,100
711,786
Verizon Communications, Inc.
36,500
1,560,740
 
3,843,119
ELECTRIC UTILITIES - 0.4%
Exelon Corp.
8,000
359,520
 
ELECTRICAL EQUIPMENT - 1.0%
Sensata Technologies Holding PLC
29,100
895,116
 
ELECTRONIC EQUIPMENT,
INSTRUMENTS
& COMPONENTS - 3.2%
Arrow Electronics, Inc.(a)
200
23,200
Avnet, Inc.
17,800
942,332
See Notes to Schedule of Investments.
19
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD LARGE CAP VALUE FUND
 
Shares
Value
Flex Ltd.(a)
20,300
$1,012,361
Jabil, Inc.
4,300
959,631
 
2,937,524
ENTERTAINMENT - 1.9%
Electronic Arts, Inc.
6,600
1,006,434
Walt Disney Co. (The)
6,300
750,393
 
1,756,827
FINANCIAL SERVICES - 3.6%
Berkshire Hathaway, Inc., Class B(a)
4,200
1,981,896
PayPal Holdings, Inc.(a)
15,200
1,045,152
Western Union Co. (The)
39,200
315,560
 
3,342,608
FOOD PRODUCTS - 0.7%
General Mills, Inc.
13,500
661,230
 
GROUND TRANSPORTATION - 1.4%
Union Pacific Corp.
6,000
1,331,820
 
HEALTH CARE EQUIPMENT &
SUPPLIES - 1.1%
Medtronic PLC
11,300
1,019,712
 
HEALTH CARE PROVIDERS &
SERVICES - 7.4%
Cardinal Health, Inc.
6,000
931,320
Cigna Group (The)
3,900
1,042,782
CVS Health Corp.
18,700
1,161,270
Elevance Health, Inc.
3,900
1,104,012
Humana, Inc.
3,800
949,506
McKesson Corp.
1,300
901,602
Premier, Inc., Class A
36,900
792,612
 
6,883,104
HOTELS, RESTAURANTS &
LEISURE - 1.2%
Booking Holdings, Inc.
200
1,100,812
 
HOUSEHOLD PRODUCTS - 1.4%
Colgate-Palmolive Co.
11,300
947,505
Procter & Gamble Co. (The)
2,100
315,987
 
1,263,492
INDUSTRIAL CONGLOMERATES -
1.5%
Honeywell International, Inc.
6,300
1,400,805
 
INSURANCE - 6.1%
Aflac, Inc.
8,300
824,688
Hartford Insurance Group, Inc. (The)
7,700
957,803
 
Shares
Value
Marsh & McLennan Cos., Inc.
4,800
$956,160
MetLife, Inc.
13,200
1,002,540
Primerica, Inc.
2,700
717,201
Progressive Corp. (The)
3,800
919,752
Unum Group
3,800
272,878
 
5,651,022
INTERACTIVE MEDIA & SERVICES
- 1.7%
Alphabet, Inc., Class A
7,700
1,477,630
Meta Platforms, Inc., Class A
100
77,344
 
1,554,974
IT SERVICES - 1.8%
International Business Machines Corp.
6,700
1,696,105
 
LEISURE PRODUCTS - 0.9%
YETI Holdings, Inc.(a)
24,000
881,760
 
MEDIA - 1.5%
Comcast Corp., Class A
41,000
1,362,430
 
OIL, GAS & CONSUMABLE FUELS -
2.5%
Antero Midstream Corp.
10,300
189,005
Chevron Corp.
300
45,492
ConocoPhillips
14,400
1,372,896
Exxon Mobil Corp.
6,600
736,824
 
2,344,217
PROFESSIONAL SERVICES - 2.4%
Automatic Data Processing, Inc.
3,200
990,400
Genpact Ltd.
22,200
977,910
Robert Half, Inc.
6,400
236,224
 
2,204,534
REAL ESTATE MANAGEMENT &
DEVELOPMENT - 2.2%
CBRE Group, Inc., Class A(a)
6,800
1,059,032
Jones Lang LaSalle, Inc.(a)
3,500
946,260
 
2,005,292
SEMICONDUCTORS &
SEMICONDUCTOR EQUIPMENT -
2.2%
Applied Materials, Inc.
400
72,024
Cirrus Logic, Inc.(a)
7,000
704,970
QUALCOMM, Inc.
8,800
1,291,488
 
2,068,482
SOFTWARE - 4.6%
Dropbox, Inc., Class A(a)
31,100
844,987
Fortinet, Inc.(a)
8,600
859,140
See Notes to Schedule of Investments.
20
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD LARGE CAP VALUE FUND
 
Shares
Value
Gen Digital, Inc.
33,100
$976,119
Salesforce, Inc.
6,300
1,627,479
 
4,307,725
SPECIALIZED REAL ESTATE
INVESTMENT TRUSTS - 0.8%
American Tower Corp.
700
145,873
Iron Mountain, Inc.
6,000
584,160
 
730,033
SPECIALTY RETAIL - 2.8%
Best Buy Co., Inc.
12,700
826,262
Gap, Inc. (The)
39,700
772,562
Williams-Sonoma, Inc.
5,200
972,660
 
2,571,484
TEXTILES, APPAREL & LUXURY
GOODS - 2.2%
Crocs, Inc.(a)
8,700
867,651
PVH Corp.
10,300
756,226
Ralph Lauren Corp.
1,300
388,375
 
2,012,252
WIRELESS TELECOMMUNICATION
SERVICES - 1.0%
Millicom International Cellular SA
24,100
967,615
 
TOTAL COMMON STOCKS
(COST $82,836,477)
92,298,519
 
Shares
Value

MONEY MARKET FUND - 0.2%
Northern Institutional Treasury Portfolio
(Premier Class), 4.15%(b)
145,670
$145,670
TOTAL MONEY MARKET FUND
(COST $145,670)
145,670
 
TOTAL INVESTMENTS
(COST $82,982,147) - 99.7%
92,444,189
 
OTHER ASSETS IN EXCESS OF
LIABILITIES - 0.3%
294,239
NET ASSETS - 100.0%
$92,738,428
 
 
(a)
Non-income producing security.
 
(b)
7-day current yield as of July 31, 2025.
 
PLC — Public Limited Company
SA — Societe Anonyme
See Notes to Schedule of Investments.
21
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD SELECT BOND FUND
 
 
Principal
Amount
Value
CORPORATE BONDS - 61.4%
 
AEROSPACE & DEFENSE - 3.4%
General Dynamics Corp., 3.75%, 5/15/28
$2,000,000
$1,982,349
L3Harris Technologies, Inc., 5.40%,
7/31/33
3,000,000
3,079,048
Raytheon Technologies Corp., 3.75%,
11/1/46, (Callable 5/1/46 @ 100)
2,000,000
1,520,519
 
6,581,916
AIR FREIGHT & LOGISTICS - 1.9%
FedEx Corp., 5.10%, 1/15/44
1,000,000
878,718
Union Pacific Corp., 4.50%, 1/20/33
2,000,000
1,976,939
United Parcel Service, Inc., 3.75%,
11/15/47
1,000,000
752,983
 
3,608,640
BANKS - 2.3%
Bank of America Corp., 4.45%, 3/3/26
2,000,000
1,997,935
Bank of America Corp., 5.00%, 1/21/44
2,000,000
1,882,200
JPMorgan Chase & Co, 4.25%, 10/1/27
500,000
500,275
 
4,380,410
BEVERAGES - 0.5%
PepsiCo, Inc., 3.90%, 7/18/32
1,000,000
962,849
 
BIOTECHNOLOGY - 2.6%
Amgen, Inc., 4.20%, 3/1/33, (Callable
12/1/32 @ 100)
2,000,000
1,916,040
Gilead Sciences, Inc., 4.60%, 9/1/35,
(Callable 3/1/35 @ 100)
1,000,000
967,113
Gilead Sciences, Inc., 5.25%, 10/15/33
2,000,000
2,060,894
 
4,944,047
CAPITAL MARKETS - 1.3%
Charles Schwab Corp. (The), 5.00%
(H15T5Y + 326 bps), 6/1/27(a)
1,000,000
992,922
Goldman Sachs Group, Inc. (The),
5.95%, 1/15/27
1,500,000
1,536,795
 
2,529,717
CHEMICALS - 0.4%
Sherwin-Williams Co. (The), 3.80%,
8/15/49
1,000,000
735,953
 
CONSUMER FINANCE - 1.6%
American Express Co., 4.05%, 5/3/29
3,000,000
2,985,296
 
CONSUMER STAPLES DISTRIBUTION & RETAIL - 4.1%
Kroger Co. (The), 4.50%, 1/15/29
1,000,000
1,005,918
Sysco Corp., 3.25%, 7/15/27
1,000,000
978,643
Target Corp., 4.50%, 9/15/34, (Callable
6/15/34 @ 100)
2,000,000
1,937,951
Walgreens Boots Alliance, Inc., 4.50%,
11/18/34, (Callable 5/18/34 @ 100)
2,000,000
1,978,988
Walmart, Inc., 4.10%, 4/15/33
2,000,000
1,943,959
 
7,845,459
 
Principal
Amount
Value
DIVERSIFIED TELECOMMUNICATION SERVICES - 1.0%
Verizon Communications, Inc., 4.50%,
8/10/33
$2,000,000
$1,934,310
 
ELECTRIC UTILITIES - 2.1%
Duke Energy Corp., 4.50%, 8/15/32
2,000,000
1,957,846
Exelon Corp., 5.30%, 3/15/33
2,000,000
2,051,627
 
4,009,473
ENTERTAINMENT - 1.5%
Walt Disney Co. (The), 3.80%, 3/22/30
3,000,000
2,935,804
 
FINANCIAL SERVICES - 2.1%
Citigroup, Inc., 6.63%, 6/15/32
1,000,000
1,088,561
PayPal Holdings, Inc., 4.40%, 6/1/32,
(Callable 3/1/32 @ 100)
3,000,000
2,955,107
 
4,043,668
FOOD PRODUCTS - 2.6%
General Mills, Inc., 4.20%, 4/17/28
2,000,000
1,991,009
General Mills, Inc., 4.95%, 3/29/33
2,000,000
1,994,700
The Campbell's Co., 4.15%, 3/15/28
1,000,000
993,223
 
4,978,932
HEALTH CARE PROVIDERS & SERVICES - 3.1%
Cigna Group (The), 5.40%, 3/15/33
2,000,000
2,055,818
CVS Health Corp., 5.13%, 2/21/30
1,000,000
1,016,105
Elevance Health, Inc., 4.75%, 2/15/33,
(Callable 11/15/32 @ 100)
2,000,000
1,970,783
Evernorth Health, Inc., 4.50%, 2/25/26,
(Callable 11/27/25 @ 100)
1,000,000
997,496
 
6,040,202
HOTELS, RESTAURANTS & LEISURE - 2.2%
McDonald's Corp., 3.60%, 7/1/30,
(Callable 4/1/30 @ 100)
1,000,000
965,088
McDonald's Corp., 3.63%, 9/1/49,
(Callable 3/1/49 @ 100)
2,500,000
1,812,628
Starbucks Corp., 3.75%, 12/1/47
2,000,000
1,459,742
 
4,237,458
HOUSEHOLD PRODUCTS - 3.1%
Clorox Co. (The), 4.60%, 5/1/32,
(Callable 2/1/32 @ 100)
1,000,000
997,532
Kimberly-Clark Corp., 4.50%, 2/16/33,
(Callable 11/16/32 @ 100)
2,000,000
2,000,428
Procter & Gamble Co. (The), 3.00%,
3/25/30
1,000,000
948,749
Procter & Gamble Co. (The), 4.05%,
1/26/33
2,000,000
1,964,463
 
5,911,172
INSURANCE - 2.3%
Aflac, Inc., 3.60%, 4/1/30
1,000,000
967,875
MetLife, Inc., 6.40%, 12/15/36, (Callable
12/15/31 @ 100)
2,000,000
2,082,140
Prudential Financial, Inc., 5.13%
(H15T5Y + 316 bps), 3/1/52(a)
1,500,000
1,453,093
 
4,503,108
See Notes to Schedule of Investments.
22
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD SELECT BOND FUND
 
Principal
Amount
Value
IT SERVICES - 2.3%
Fiserv, Inc., 4.20%, 10/1/28
$1,000,000
$989,987
Visa, Inc., 4.15%, 12/14/35, (Callable
6/14/35 @ 100)
1,000,000
945,744
Visa, Inc., 4.30%, 12/14/45, (Callable
6/14/45 @ 100)
3,000,000
2,580,072
 
4,515,803
MACHINERY - 2.1%
Cummins, Inc., 5.15%, 2/20/34
2,000,000
2,033,482
John Deere Capital Corp., 4.50%,
1/16/29
2,000,000
2,012,708
 
4,046,190
OIL, GAS & CONSUMABLE FUELS - 3.5%
Exxon Mobil Corp., 4.11%, 3/1/46,
(Callable 9/1/45 @ 100)
2,000,000
1,630,445
Marathon Oil Corp., 6.60%, 10/1/37
2,000,000
2,092,841
Valero Energy Corp., 4.00%, 4/1/29
3,000,000
2,942,943
 
6,666,229
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 4.4%
Intel Corp., 4.00%, 12/15/32
2,000,000
1,855,001
Lam Research Corp., 4.00%, 3/15/29
1,000,000
990,617
NVIDIA Corp., 3.50%, 4/1/40
2,000,000
1,680,078
QUALCOMM, Inc., 4.65%, 5/20/35,
(Callable 11/20/34 @ 100)
4,000,000
3,949,577
 
8,475,273
SOFTWARE - 3.0%
Adobe, Inc., 4.95%, 4/4/34
2,000,000
2,030,115
Microsoft Corp., 3.45%, 8/8/36, (Callable
2/8/36 @ 100)
2,000,000
1,785,622
Oracle Corp., 3.25%, 11/15/27
1,000,000
972,960
Salesforce, Inc., 3.70%, 4/11/28
1,000,000
990,453
 
5,779,150
SPECIALTY RETAIL - 3.7%
Home Depot, Inc. (The), 4.50%, 9/15/32
2,000,000
1,997,641
Home Depot, Inc. (The), 5.88%,
12/16/36
2,000,000
2,135,892
Lowe's Cos., Inc., 3.65%, 4/5/29
2,000,000
1,947,879
Tractor Supply Co., 5.25%, 5/15/33
1,000,000
1,015,377
 
7,096,789
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS - 0.9%
Apple, Inc., 1.65%, 5/11/30
1,000,000
889,035
Apple, Inc., 3.45%, 2/9/45
1,000,000
767,115
 
1,656,150
TEXTILES, APPAREL & LUXURY GOODS - 2.5%
NIKE, Inc., 2.85%, 3/27/30
3,000,000
2,817,090
Ralph Lauren Corp., 2.95%, 6/15/30,
(Callable 3/15/30 @ 100)
1,000,000
932,531
Tapestry, Inc., 5.10%, 3/11/30
1,000,000
1,013,781
 
4,763,402
TRADING COMPANIES & DISTRIBUTORS - 0.9%
WW Grainger, Inc., 4.60%, 6/15/45,
(Callable 12/15/44 @ 100)
2,000,000
1,762,525
 
Principal
Amount
Value
 
TOTAL CORPORATE BONDS
(COST $123,406,070)
117,929,925
MUNICIPAL BONDS - 2.6%
 
CALIFORNIA - 0.2%
California State University Taxable
Revenue Refunding Bonds, Series B,
1.79%, 11/1/30
$500,000
$439,382
 
LOUISIANA - 0.1%
Louisiana State Highway Improvement
Taxable Revenue Refunding Bonds,
Series A, 1.59%, 6/15/30
100,000
88,048
 
TENNESSEE - 0.5%
Metropolitan Government Nashville &
Davidson County Water & Sewer
Taxable Revenue Refunding Bonds,
Series B, Green Bond, 2.13%, 7/1/32
1,215,000
1,044,188
 
TEXAS - 1.8%
Frisco Taxable Certificates G.O. Limited
Bonds, Series B, 1.75%, 2/15/30
995,000
896,291
Houston Utility System First Lien
Taxable Revenue Refunding Bonds,
Series B, 1.93%, 11/15/31
1,240,000
1,071,039
Leander Independent School District
Taxable G.O. Unlimited Refunding
Bonds, Series B (PSF, Gtd.), 1.99%,
8/15/33
895,000
741,392
North Texas Tollway Authority Taxable
Revenue Refunding Bonds, Series
2021A, 2.08%, 1/1/31
100,000
88,915
Northwest Independent School District
Taxable G.O. Unlimited Refunding
Bonds, Series A (PSF, Gtd.), 1.97%,
2/15/34 (Callable 2/15/30 @ 100)
600,000
488,867
Uptown Development Authority Contract
Tax Allocation Increment Revenue
Bonds, Series B (AGM Insured),
2.58%, 9/1/31
100,000
88,800
 
3,375,304
TOTAL MUNICIPAL BONDS
(COST $5,788,580)
4,946,922
U.S. GOVERNMENT AGENCIES - 7.4%
Federal Farm Credit Bank, 3.00%,
11/25/30
1,000,000
943,863
Federal Home Loan Bank
1.00%, 3/16/27
2,000,000
1,904,063
1.07%, 1/25/30
1,000,000
876,400
1.50%, 9/30/26(b)
2,000,000
1,945,855
1.75%, 7/29/26
1,000,000
976,954
1.75%, 8/25/28
1,350,000
1,263,070
2.25%, 4/29/31, (Callable 10/29/25 @
100)(b)
730,769
685,456
2.75%, 2/22/34
1,000,000
868,073
See Notes to Schedule of Investments.
23
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD SELECT BOND FUND
 
Principal
Amount
Value
3.00%, 2/24/37, (Callable 8/8/25 @
100)
$1,000,000
$832,106
3.65%, 5/26/27
1,000,000
991,258
4.50%, 12/12/25
1,015,000
1,015,664
4.75%, 3/10/34
1,000,000
1,011,175
 
12,370,074
Federal Home Loan Mortgage Corp.,
1.05%, 7/21/28
1,000,000
917,427
TOTAL U.S. GOVERNMENT
AGENCIES
(COST $15,120,312)
14,231,364
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED
OBLIGATIONS - 1.4%
Federal Home Loan Mortgage Corp.
3.00%, 7/15/41
237,662
235,008
3.50%, 2/1/34
107,821
105,506
3.50%, 10/1/49
182,890
165,285
3.50%, 12/15/48
292,958
283,169
4.00%, 12/15/25
36,379
36,302
6.00%, 3/1/38
10,639
11,138
 
836,408
Federal National Mortgage Association
1.50%, 11/25/44
1,234,537
1,069,111
3.50%, 2/1/43
110,726
102,583
3.50%, 4/1/48
300,087
275,082
4.00%, 9/1/33
70,144
69,535
4.00%, 10/1/46
223,471
210,078
6.00%, 6/1/36
69,363
69,706
6.57% (RFUCCT1Y + 182 bps),
5/1/36(a)
27,516
28,192
 
1,824,287
Government National Mortgage
Association
4.50%, 6/15/40
50,033
48,327
4.50%, 8/20/38
17,887
17,684
5.00%, 5/20/40
28,953
28,448
6.00%, 10/15/37
11,965
12,547
6.00%, 6/15/37
13,736
14,198
 
121,204
TOTAL U.S. GOVERNMENT
AGENCY MORTGAGE-BACKED
OBLIGATIONS
(COST $3,125,364)
2,781,899
U.S. TREASURY OBLIGATIONS - 24.3%
U.S. Treasury Bonds
1.13%, 5/15/40
2,000,000
1,234,766
4.00%, 11/15/42
4,000,000
3,610,312
4.25%, 5/15/39
2,000,000
1,927,266
4.38%, 2/15/38
1,000,000
988,086
 
Principal
Amount
Value
4.50%, 8/15/39
$2,000,000
$1,972,734
4.50%, 2/15/44
2,000,000
1,910,469
 
11,643,633
U.S. Treasury Notes
2.13%, 1/15/35
1,018,630
1,031,524
3.50%, 2/15/33
4,000,000
3,823,438
4.00%, 10/31/29
2,000,000
2,005,547
4.00%, 7/31/30
3,000,000
3,004,453
4.00%, 2/15/34
1,000,000
980,664
4.00%, 4/30/32
1,000,000
992,695
4.13%, 10/31/27
1,000,000
1,004,258
4.13%, 11/15/32
2,000,000
1,995,547
4.13%, 8/31/30
2,000,000
2,014,297
4.13%, 3/31/31
1,000,000
1,004,883
4.13%, 7/31/31
2,000,000
2,006,953
4.13%, 2/29/32
2,000,000
2,001,484
4.25%, 2/28/31
2,000,000
2,023,359
4.25%, 11/15/34
2,000,000
1,987,500
4.38%, 11/30/28
1,000,000
1,014,609
4.38%, 5/15/34
3,000,000
3,018,164
4.50%, 11/15/25
2,000,000
2,000,438
4.50%, 7/15/26
1,000,000
1,002,867
5.00%, 8/31/25
2,000,000
2,000,739
 
34,913,419
TOTAL U.S. TREASURY
OBLIGATIONS
(COST $47,459,123)
46,557,052
See Notes to Schedule of Investments.
24
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD SELECT BOND FUND
 
 
Shares
Value

MONEY MARKET FUND - 1.8%
Northern Institutional Treasury Portfolio
(Premier Class), 4.15%(c)
3,502,555
$3,502,555
TOTAL MONEY MARKET FUND
(COST $3,502,555)
3,502,555
 
TOTAL INVESTMENTS
(COST $198,402,004) - 98.9%
189,949,717
 
OTHER ASSETS IN EXCESS OF
LIABILITIES - 1.1%
2,032,016
NET ASSETS - 100.0%
$191,981,733
 
 
(a)
Variable rate security. Rate in effect at July 31, 2025. For securities
based on published reference rate and spread, the reference rate and
spread are indicated. Certain variable rate securities are not based on a
published reference rate and spread but are determined by the issuer and
are based on current market conditions, as a result no reference rate or
spread is included. 
 
(b)
Step Bond. Coupon rate is set for an initial period and then adjusted at
a specified date. The rate shown represents the rate as of July 31, 2025.
 
(c)
7-day current yield as of July 31, 2025.
 
AGM — Assured Guarantee Municipal Corporation
bps — Basis Points
G.O. — General Obligation
Gtd. — Guaranteed
H15T5Y — 5 Year Treasury Constant Maturity Rate
PSF — Permanent School Fund
RFUCCT1Y — 1 Year Refinitiv US Dollar IBOR Consumer Cash Fallback
See Notes to Schedule of Investments.
25
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED INTERNATIONAL FUND
 
Country Diversification
Percent*
United Kingdom
29.8
%
Japan
13.9
Netherlands
9.2
Germany
7.3
China
6.6
Taiwan
4.5
Spain
4.4
India
4.3
France
3.1
Switzerland
3.0
Australia
2.4
Brazil
2.2
Mexico
1.4
Italy
0.9
Singapore
0.9
Republic of Korea (South)
0.7
United States
0.7
Belgium
0.6
Israel
0.6
Norway
0.6
Ireland (Republic of)
0.5
Finland
0.5
Sweden
0.4
Jersey
0.4
Indonesia
0.4
Denmark
0.3
Luxembourg
0.3
Hong Kong
0.1
South Africa
0.0**
Chile
0.0**
Total Investments
100.0
%
 
*
Percentages are based on net assets as of July 31, 2025.
**
Amount rounds to less than 0.1%.
See Notes to Schedule of Investments.
26
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED INTERNATIONAL FUND
 
 
Shares
Value
COMMON STOCKS - 98.1%
 
AIR FREIGHT & LOGISTICS - 0.1%
ZTO Express Cayman, Inc., ADR
16,627
$327,386
 
AUTOMOBILES - 1.8%
Honda Motor Co. Ltd., Sponsored ADR
111,053
3,469,296
Li Auto, Inc., ADR(a)
21,898
571,538
NIO, Inc., ADR(a)
26,351
128,329
XPeng, Inc., ADR(a)
9,078
165,310
 
4,334,473
BANKS - 20.1%
Banco Bilbao Vizcaya Argentaria SA,
Sponsored ADR
264,790
4,429,937
Banco de Chile, ADR
1,104
30,161
Banco Santander SA, Sponsored ADR
609,017
5,243,636
Barclays PLC, Sponsored ADR
113,631
2,229,440
HDFC Bank Ltd., ADR
52,972
4,066,661
HSBC Holdings PLC, Sponsored ADR
150,970
9,254,461
ICICI Bank Ltd., Sponsored ADR
86,970
2,930,889
ING Groep N.V., Sponsored ADR
140,739
3,287,663
KB Financial Group, Inc., ADR
11,106
879,040
Lloyds Banking Group PLC, ADR
425,905
1,797,319
Mitsubishi UFJ Financial Group, Inc.,
Sponsored ADR
460,069
6,394,959
Mizuho Financial Group, Inc., ADR
315,100
1,859,090
NatWest Group PLC, Sponsored ADR
157,683
2,204,408
Shinhan Financial Group Co. Ltd., ADR
10,365
504,776
Sumitomo Mitsui Financial Group, Inc.,
Sponsored ADR
265,464
4,019,125
Woori Financial Group, Inc., Sponsored
ADR
875
46,279
 
49,177,844
BEVERAGES - 0.6%
Fomento Economico Mexicano SAB de
CV, Sponsored ADR
16,079
1,454,506
 
BIOTECHNOLOGY - 3.5%
Abivax SA, ADR(a)
7,858
563,969
Amarin Corp. PLC, ADR(a)
1,169
16,974
Argenx SE, ADR(a)
5,433
3,641,903
Ascendis Pharma A/S, ADR(a)
4,737
821,869
BeOne Medicines Ltd., ADR(a)
1,897
571,244
Bicycle Therapeutics PLC, ADR(a)
11,209
95,501
Centessa Pharmaceuticals PLC, ADR(a)
5,436
93,336
Galapagos N.V., Sponsored ADR(a)
46,426
1,523,701
Immunocore Holdings PLC, ADR(a)
35,726
1,170,741
Silence Therapeutics PLC, ADR(a)
5,800
35,728
 
8,534,966
 
Shares
Value
BROADLINE RETAIL - 4.2%
Alibaba Group Holding Ltd., Sponsored
ADR
55,917
$6,745,268
JD.com, Inc., ADR
38,046
1,198,068
PDD Holdings, Inc., ADR(a)
20,614
2,338,658
 
10,281,994
CAPITAL MARKETS - 3.7%
Deutsche Bank AG
82,893
2,733,811
Futu Holdings Ltd., ADR
2,217
340,709
Nomura Holdings, Inc., Sponsored ADR
85,620
569,373
UBS Group AG
142,291
5,311,723
 
8,955,616
COMMERCIAL SERVICES &
SUPPLIES - 0.3%
Rentokil Initial PLC, Sponsored ADR
32,442
803,588
 
COMMUNICATIONS EQUIPMENT -
0.9%
Nokia Oyj, Sponsored ADR
279,235
1,139,279
Telefonaktiebolaget LM Ericsson,
Sponsored ADR
143,601
1,036,799
 
2,176,078
CONSTRUCTION MATERIALS - 0.3%
CEMEX SAB de CV, Sponsored ADR
75,555
657,328
 
DIVERSIFIED CONSUMER
SERVICES - 0.6%
New Oriental Education & Technology
Group, Inc., Sponsored ADR
3,184
140,446
Pearson PLC, Sponsored ADR
97,434
1,386,486
 
1,526,932
DIVERSIFIED
TELECOMMUNICATION
SERVICES - 1.1%
Chunghwa Telecom Co. Ltd., Sponsored
ADR
17,653
766,140
Telefonica SA, Sponsored ADR
169,980
873,697
Telkom Indonesia Persero Tbk PT, ADR
54,458
958,461
 
2,598,298
ELECTRIC UTILITIES - 0.2%
Centrais Eletricas Brasileiras SA,
Sponsored ADR
81,639
551,880
 
ENTERTAINMENT - 1.6%
NetEase, Inc., ADR
9,474
1,234,462
Sea Ltd., ADR(a)
13,770
2,157,071
Tencent Music Entertainment Group,
ADR
22,595
474,269
 
3,865,802
See Notes to Schedule of Investments.
27
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED INTERNATIONAL FUND
 
Shares
Value
FINANCIAL SERVICES - 0.7%
ORIX Corp., Sponsored ADR
78,460
$1,769,273
 
GROUND TRANSPORTATION - 0.1%
Full Truck Alliance Co. Ltd., Sponsored
ADR
22,572
260,707
 
HEALTH CARE EQUIPMENT &
SUPPLIES - 1.5%
Koninklijke Philips N.V., Sponsored NYS
59,082
1,547,948
Smith & Nephew PLC, Sponsored ADR
71,999
2,200,290
 
3,748,238
HEALTH CARE PROVIDERS &
SERVICES - 0.4%
Fresenius Medical Care AG, ADR
36,535
925,797
 
HOTELS, RESTAURANTS &
LEISURE - 0.9%
InterContinental Hotels Group PLC,
ADR
14,431
1,676,305
Trip.com Group Ltd., ADR
8,602
532,894
 
2,209,199
HOUSEHOLD DURABLES - 2.9%
Sony Group Corp., Sponsored ADR
286,690
6,972,301
 
INSURANCE - 0.9%
Aegon Ltd., Sponsored NYS
83,167
590,486
Prudential PLC, ADR
60,694
1,548,911
 
2,139,397
INTERACTIVE MEDIA & SERVICES
- 0.3%
Baidu, Inc., Sponsored ADR(a)
8,603
755,946
 
IT SERVICES - 1.4%
Endava PLC, Sponsored ADR(a)
2,407
30,810
Infosys Ltd., Sponsored ADR
179,816
3,006,523
Wipro Ltd., ADR
168,148
457,363
 
3,494,696
MEDIA - 0.6%
Criteo SA, Sponsored ADR(a)
18,292
445,227
WPP PLC, Sponsored ADR
36,066
976,668
 
1,421,895
METALS & MINING - 4.6%
ArcelorMittal SA, Sponsored NYS
21,827
690,388
BHP Group Ltd., Sponsored ADR
116,431
5,899,559
Gold Fields Ltd., Sponsored ADR
4,039
98,390
 
Shares
Value
POSCO Holdings, Inc., Sponsored ADR
6,410
$350,242
Rio Tinto PLC, Sponsored ADR
54,996
3,287,111
Vale SA, Sponsored ADR
90,960
866,849
 
11,192,539
MULTI-UTILITIES - 1.9%
National Grid PLC, Sponsored ADR
65,137
4,584,993
 
OIL, GAS & CONSUMABLE FUELS -
10.2%
BP PLC, Sponsored ADR
115,998
3,729,336
Eni S.p.A., Sponsored ADR
67,356
2,292,798
Equinor ASA, Sponsored ADR
52,698
1,356,974
Petroleo Brasileiro SA, Sponsored ADR
25,860
329,456
Shell PLC, ADR
148,564
10,727,806
TotalEnergies SE, Sponsored ADR
109,784
6,537,637
 
24,974,007
PAPER & FOREST PRODUCTS - 0.1%
Suzano SA, Sponsored ADR(a)
25,371
235,189
 
PASSENGER AIRLINES - 0.5%
Ryanair Holdings PLC, Sponsored ADR
20,412
1,271,055
 
PERSONAL CARE PRODUCTS - 4.5%
Unilever PLC, Sponsored ADR
188,720
11,026,910
 
PHARMACEUTICALS - 6.2%
Haleon PLC, ADR
427,721
4,033,409
HUTCHMED China Ltd., ADR(a)
50,055
889,978
Takeda Pharmaceutical Co. Ltd., ADR
651,533
8,939,033
Verona Pharma PLC, ADR(a)
11,117
1,168,285
 
15,030,705
PROFESSIONAL SERVICES - 3.1%
RELX PLC, Sponsored ADR
147,943
7,676,762
 
REAL ESTATE MANAGEMENT &
DEVELOPMENT - 0.1%
KE Holdings, Inc., ADR
15,738
289,894
 
SEMICONDUCTORS &
SEMICONDUCTOR EQUIPMENT -
10.0%
ARM Holdings PLC, ADR(a)
5,667
801,172
ASE Industrial Holding Co. Ltd., ADR
57,146
542,887
ASML Holding N.V., Sponsored NYS
17,716
12,307,482
See Notes to Schedule of Investments.
28
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED INTERNATIONAL FUND
 
Shares
Value
STMicroelectronics N.V., Sponsored
NYS
37,577
$955,583
Taiwan Semiconductor Manufacturing
Co. Ltd., Sponsored ADR
36,318
8,775,155
United Microelectronics Corp.,
Sponsored ADR
136,133
931,150
 
24,313,429
SOFTWARE - 6.4%
Nice Ltd., Sponsored ADR(a)
8,919
1,391,810
SAP SE, Sponsored ADR
49,678
14,242,682
 
15,634,492
TECHNOLOGY HARDWARE,
STORAGE & PERIPHERALS -
0.6%
Logitech International SA
15,940
1,480,507
 
WATER UTILITIES - 0.1%
Cia de Saneamento Basico do Estado de
Sao Paulo SABESP, ADR
16,986
327,490
 
WIRELESS TELECOMMUNICATION
SERVICES - 1.1%
America Movil SAB de CV, ADR
77,435
1,399,251
Vodafone Group PLC, Sponsored ADR
112,382
1,214,849
 
2,614,100
TOTAL COMMON STOCKS
(COST $217,837,372)
239,596,212

MONEY MARKET FUND - 0.6%
Northern Institutional Treasury Portfolio
(Premier Class), 4.15%(b)
1,572,944
1,572,944
TOTAL MONEY MARKET FUND
(COST $1,572,944)
1,572,944
PREFERRED STOCKS - 1.3%
 
BANKS - 0.7%
Itau Unibanco Holding SA, Sponsored
ADR, 3.97%(c)
268,209
1,681,671
 
Shares
Value
BIOTECHNOLOGY - 0.0%
Grifols SA, ADR, 1.62%(c)
4,960
$53,072
OIL, GAS & CONSUMABLE FUELS - 0.6%
Petroleo Brasileiro SA, Sponsored ADR,
3.76%(c)
113,226
1,315,686
TOTAL PREFERRED STOCKS
(COST $3,029,692)
3,050,429
 
TOTAL INVESTMENTS
(COST $222,440,008) - 100.0%
244,219,585
 
LIABILITIES IN EXCESS OF
OTHER ASSETS - 0.0%
(89,096
)
NET ASSETS - 100.0%
$244,130,489
 
 
(a)
Non-income producing security.
 
(b)
7-day current yield as of July 31, 2025.
 
(c)
Current yield. Dividends are calculated based on a percentage of the
issuer’s net income.
 
ADR — American Depositary Receipt
AG — Aktiengesellschaft
ASA — Aksjeselskap
N.V. — Naamloze Vennootschap
NYS — New York Shares
PLC — Public Limited Company
S.p.A. — Stock Purchase Agreements
SA — Societe Anonyme
SAB de CV — Sociedad Anónima Bursátil de Capital Variable
SABESP — Companhia de Saneamento Basico do Estado de Sao Paulo
SE — Societas Europaea
Tbk PT — Perseroan Terbatas
See Notes to Schedule of Investments.
29
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED LARGE CAP FUND
 
 
Shares
Value
COMMON STOCKS - 99.9%
 
AEROSPACE & DEFENSE - 2.2%
Axon Enterprise, Inc.(a)
494
$373,212
Boeing Co. (The)(a)
3,699
820,586
General Dynamics Corp.
616
191,952
General Electric Co.
5,545
1,503,138
Howmet Aerospace, Inc.
1,665
299,317
L3Harris Technologies, Inc.
972
267,125
Lockheed Martin Corp.
1,044
439,503
Northrop Grumman Corp.
680
392,095
RTX Corp.
6,946
1,094,481
Textron, Inc.
597
46,429
TransDigm Group, Inc.
558
897,521
 
6,325,359
AIR FREIGHT & LOGISTICS - 0.2%
C.H. Robinson Worldwide, Inc.
1,410
162,601
Expeditors International of Washington,
Inc.
2,171
252,357
FedEx Corp.
11
2,459
United Parcel Service, Inc., Class B
3,302
284,500
 
701,917
AUTOMOBILES - 1.8%
Ford Motor Co.
24,591
272,222
General Motors Co.
4,638
247,391
Tesla, Inc.(a)
14,867
4,583,050
 
5,102,663
BANKS - 3.5%
Bank of America Corp.
38,335
1,812,095
Citigroup, Inc.
9,308
872,160
Citizens Financial Group, Inc.
1,163
55,498
Fifth Third Bancorp
4,350
180,830
Huntington Bancshares, Inc.
12,350
202,911
JPMorgan Chase & Co.
15,185
4,498,404
KeyCorp
7,900
141,568
Regions Financial Corp.
7,892
199,904
Truist Financial Corp.
7,326
320,220
U.S. Bancorp
7,905
355,409
Wells Fargo & Co.
17,881
1,441,745
 
10,080,744
BEVERAGES - 1.2%
Coca-Cola Co. (The)
25,724
1,746,402
Keurig Dr Pepper, Inc.
5,015
163,740
Monster Beverage Corp.(a)
6,052
355,555
PepsiCo, Inc.
8,587
1,184,319
 
3,450,016
BIOTECHNOLOGY - 1.2%
Amgen, Inc.
6,575
1,940,283
 
Shares
Value
Gilead Sciences, Inc.
10,159
$1,140,754
Incyte Corp.(a)
4,162
311,692
Moderna, Inc.(a)
1,993
58,913
 
3,451,642
BROADLINE RETAIL - 4.1%
Amazon.com, Inc.(a)
48,832
11,432,060
eBay, Inc.
3,111
285,434
 
11,717,494
BUILDING PRODUCTS - 0.7%
A.O. Smith Corp.
807
57,128
Allegion PLC
77
12,776
Builders FirstSource, Inc.(a)
87
11,060
Carrier Global Corp.
8,574
588,348
Johnson Controls International PLC
4,622
485,310
Masco Corp.
1,108
75,488
Trane Technologies PLC
1,865
817,019
 
2,047,129
CAPITAL MARKETS - 3.3%
Bank of New York Mellon Corp. (The)
5,406
548,439
Blackrock, Inc.
603
666,924
Blackstone, Inc.
3,582
619,543
Cboe Global Markets, Inc.
762
183,673
Charles Schwab Corp. (The)
7,781
760,437
CME Group, Inc.
2,144
596,632
Coinbase Global, Inc., Class A(a)
1,233
465,778
Franklin Resources, Inc.
2,300
55,200
Goldman Sachs Group, Inc. (The)
1,494
1,081,043
Intercontinental Exchange, Inc.
3,189
589,423
Invesco Ltd.
2,500
52,525
KKR & Co., Inc.
2,636
386,385
Moody's Corp.
586
302,218
Morgan Stanley
6,722
957,616
Nasdaq, Inc.
5,973
574,722
Northern Trust Corp.
683
88,790
Raymond James Financial, Inc.
969
161,949
S&P Global, Inc.
2,251
1,240,526
State Street Corp.
1,585
177,124
T. Rowe Price Group, Inc.
803
81,464
 
9,590,411
CHEMICALS - 1.0%
Air Products and Chemicals, Inc.
403
116,016
Albemarle Corp.
172
11,670
CF Industries Holdings, Inc.
795
73,800
Corteva, Inc.
3,807
274,599
Dow, Inc.
4,069
94,767
DuPont de Nemours, Inc.
2,076
149,264
Ecolab, Inc.
1,525
399,184
See Notes to Schedule of Investments.
30
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED LARGE CAP FUND
 
Shares
Value
International Flavors & Fragrances, Inc.
1,328
$94,328
Linde PLC
2,401
1,105,084
LyondellBasell Industries N.V., Class A
1,530
88,633
Mosaic Co. (The)
2,160
77,782
PPG Industries, Inc.
1,165
122,907
Sherwin-Williams Co. (The)
494
163,455
 
2,771,489
COMMERCIAL SERVICES &
SUPPLIES - 0.6%
Cintas Corp.
1,872
416,613
Copart, Inc.(a)
5,166
234,175
Republic Services, Inc.
1,516
349,665
Rollins, Inc.
2,895
165,797
Veralto Corp.
1,275
133,658
Waste Management, Inc.
2,211
506,673
 
1,806,581
COMMUNICATIONS EQUIPMENT -
0.8%
Arista Networks, Inc.(a)
3,284
404,655
Cisco Systems, Inc.
26,917
1,832,509
F5, Inc.(a)
17
5,328
Motorola Solutions, Inc.
282
123,792
 
2,366,284
CONSTRUCTION & ENGINEERING -
0.0%
Quanta Services, Inc.
202
82,038
 
CONSTRUCTION MATERIALS - 0.1%
Martin Marietta Materials, Inc.
33
18,971
Vulcan Materials Co.
463
127,172
 
146,143
CONSUMER FINANCE - 0.7%
American Express Co.
2,954
884,162
Capital One Financial Corp.
2,680
576,200
Synchrony Financial
7,617
530,676
 
1,991,038
CONSUMER STAPLES
DISTRIBUTION & RETAIL - 2.0%
Costco Wholesale Corp.
2,449
2,301,178
Dollar Tree, Inc.(a)
572
64,951
Kroger Co. (The)
4,059
284,536
Sysco Corp.
2,990
238,004
Target Corp.
1,512
151,956
Walgreens Boots Alliance, Inc.
11,848
137,911
Walmart, Inc.
24,821
2,431,961
 
5,610,497
 
Shares
Value
CONTAINERS & PACKAGING - 0.4%
Amcor PLC
31,380
$293,403
Avery Dennison Corp.
2,097
351,814
Ball Corp.
7,050
403,683
International Paper Co.
2,236
104,511
Smurfit WestRock PLC
1,601
71,052
 
1,224,463
DISTRIBUTORS - 0.4%
Genuine Parts Co.
3,144
405,199
LKQ Corp.
9,267
273,098
Pool Corp.
1,114
343,268
 
1,021,565
DIVERSIFIED
TELECOMMUNICATION
SERVICES - 0.8%
AT&T, Inc.
45,941
1,259,243
Verizon Communications, Inc.
22,561
964,708
 
2,223,951
ELECTRIC UTILITIES - 1.7%
Alliant Energy Corp.
2,090
135,871
American Electric Power Co., Inc.
2,934
331,953
Constellation Energy Corp.
1,635
568,718
Duke Energy Corp.
5,496
668,533
Edison International
2,094
109,139
Entergy Corp.
1,528
138,177
Evergy, Inc.
1,721
121,847
Eversource Energy
1,973
130,415
Exelon Corp.
7,191
323,164
FirstEnergy Corp.
4,259
181,902
NextEra Energy, Inc.
10,857
771,498
NRG Energy, Inc.
463
77,414
PG&E Corp.
8,106
113,646
Pinnacle West Capital Corp.
510
46,216
PPL Corp.
7,780
277,668
Southern Co. (The)
7,424
701,420
Xcel Energy, Inc.
3,140
230,602
 
4,928,183
ELECTRICAL EQUIPMENT - 0.9%
AMETEK, Inc.
952
175,977
Eaton Corp. PLC
2,149
826,763
Emerson Electric Co.
2,509
365,085
GE Vernova, Inc.
1,634
1,078,914
Generac Holdings, Inc.(a)
73
14,212
Rockwell Automation, Inc.
15
5,276
 
2,466,227
See Notes to Schedule of Investments.
31
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED LARGE CAP FUND
 
Shares
Value
ELECTRONIC EQUIPMENT,
INSTRUMENTS
& COMPONENTS - 0.5%
Amphenol Corp., Class A
4,515
$480,893
Corning, Inc.
5,104
322,777
Keysight Technologies, Inc.(a)
2,708
443,868
TE Connectivity PLC
820
168,715
Teledyne Technologies, Inc.(a)
4
2,204
Trimble, Inc.(a)
1,517
127,261
 
1,545,718
ENERGY EQUIPMENT & SERVICES
- 0.2%
Baker Hughes Co.
5,217
235,026
Halliburton Co.
4,080
91,392
Schlumberger N.V.
7,767
262,525
 
588,943
ENTERTAINMENT - 1.5%
Electronic Arts, Inc.
3,214
490,103
Netflix, Inc.(a)
2,214
2,566,911
Walt Disney Co. (The)
9,379
1,117,133
Warner Bros Discovery, Inc.(a)
13,884
182,852
 
4,356,999
FINANCIAL SERVICES - 4.2%
Apollo Global Management, Inc.
1,448
210,424
Berkshire Hathaway, Inc., Class B(a)
10,210
4,817,895
Corpay, Inc.(a)
30
9,691
Fidelity National Information Services,
Inc.
2,912
231,242
Fiserv, Inc.(a)
3,122
433,771
Global Payments, Inc.
841
67,238
Mastercard, Inc., Class A
4,889
2,769,472
PayPal Holdings, Inc.(a)
5,053
347,444
Visa, Inc., Class A
9,504
3,283,347
 
12,170,524
FOOD PRODUCTS - 0.7%
Archer-Daniels-Midland Co.
2,648
143,469
Bunge Global SA
3,400
271,184
Conagra Brands, Inc.
4,970
90,752
General Mills, Inc.
5,287
258,957
Hormel Foods Corp.
4,023
113,006
J M Smucker Co. (The)
570
61,184
Kellanova
2,538
202,608
Kraft Heinz Co. (The)
6,176
169,593
McCormick & Co., Inc.
1,409
99,518
Mondelez International, Inc., Class A
8,434
545,595
The Campbell's Co.
2,562
81,779
Tyson Foods, Inc., Class A
1,566
81,902
 
2,119,547
 
Shares
Value
GAS UTILITIES - 0.1%
Atmos Energy Corp.
1,280
$199,578
 
GROUND TRANSPORTATION - 0.8%
CSX Corp.
12,654
449,723
J.B. Hunt Transport Services, Inc.
1,684
242,580
Old Dominion Freight Line, Inc.
547
81,640
Uber Technologies, Inc.(a)
10,484
919,971
Union Pacific Corp.
2,863
635,500
 
2,329,414
HEALTH CARE EQUIPMENT &
SUPPLIES - 2.7%
Abbott Laboratories
11,040
1,393,138
Baxter International, Inc.
3,423
74,484
Becton, Dickinson and Co.
2,402
428,156
Boston Scientific Corp.(a)
11,065
1,160,940
Cooper Cos., Inc. (The)(a)
3,798
268,481
Dexcom, Inc.(a)
2,114
170,748
Edwards Lifesciences Corp.(a)
3,140
249,033
Hologic, Inc.(a)
2,143
143,195
IDEXX Laboratories, Inc.(a)
974
520,418
Insulet Corp.(a)
266
76,714
Intuitive Surgical, Inc.(a)
2,399
1,154,135
Medtronic PLC
8,397
757,745
ResMed, Inc.
770
209,394
Solventum Corp.(a)
789
56,303
STERIS PLC
357
80,857
Stryker Corp.
2,238
878,930
Zimmer Holdings, Inc.
1,772
162,404
 
7,785,075
HEALTH CARE PROVIDERS &
SERVICES - 1.7%
Cardinal Health, Inc.
3,203
497,170
Cencora, Inc.
2,128
608,778
Centene Corp.(a)
12,613
328,821
Cigna Group (The)
2,402
642,247
CVS Health Corp.
7,202
447,244
DaVita, Inc.(a)
452
63,447
Elevance Health, Inc.
2,723
770,827
Henry Schein, Inc.(a)
1,009
68,259
Humana, Inc.
1,368
341,822
Labcorp Holdings, Inc.
264
68,661
McKesson Corp.
949
658,170
Molina Healthcare, Inc.(a)
1,261
199,074
Quest Diagnostics, Inc.
1,135
190,010
 
4,884,530
See Notes to Schedule of Investments.
32
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED LARGE CAP FUND
 
Shares
Value
HEALTH CARE REAL ESTATE
INVESTMENT TRUSTS - 0.3%
Welltower, Inc.
5,301
$875,036
 
HOTEL & RESORT REAL ESTATE
INVESTMENT TRUSTS - 0.0%
Host Hotels & Resorts, Inc.
6,193
97,354
 
HOTELS, RESTAURANTS &
LEISURE - 1.7%
Airbnb, Inc., Class A(a)
1,944
257,405
Booking Holdings, Inc.
171
941,194
Carnival Corp.(a)
6,190
184,276
Chipotle Mexican Grill, Inc.(a)
6,796
291,412
Domino's Pizza, Inc.
22
10,191
DoorDash, Inc., Class A(a)
976
244,244
Expedia Group, Inc.
255
45,956
Hilton Worldwide Holdings, Inc.
1,049
281,216
Marriott International, Inc., Class A
1,012
266,996
McDonald's Corp.
3,636
1,091,055
Norwegian Cruise Line Holdings Ltd.(a)
2,830
72,335
Royal Caribbean Cruises Ltd.
1,432
455,190
Starbucks Corp.
5,093
454,092
Yum! Brands, Inc.
1,563
225,306
 
4,820,868
HOUSEHOLD DURABLES - 0.1%
D.R. Horton, Inc.
1,025
146,411
Garmin Ltd.
735
160,789
Mohawk Industries, Inc.(a)
34
3,893
 
311,093
HOUSEHOLD PRODUCTS - 1.1%
Church & Dwight Co., Inc.
2,673
250,647
Clorox Co. (The)
59
7,408
Colgate-Palmolive Co.
5,190
435,182
Kimberly-Clark Corp.
2,402
299,337
Procter & Gamble Co. (The)
14,279
2,148,561
 
3,141,135
INDEPENDENT POWER AND
RENEWABLE ELECTRICITY
PRODUCERS - 0.1%
AES Corp. (The)
5,250
69,037
Vistra Corp.
1,566
326,574
 
395,611
INDUSTRIAL CONGLOMERATES -
0.4%
3M Co.
2,811
419,458
Honeywell International, Inc.
3,543
787,786
 
1,207,244
 
Shares
Value
INDUSTRIAL REAL ESTATE
INVESTMENT TRUSTS - 0.3%
Prologis, Inc.
7,609
$812,489
 
INSURANCE - 2.1%
Aflac, Inc.
3,137
311,692
Allstate Corp. (The)
1,691
343,696
American International Group, Inc.
3,722
288,939
Aon PLC, Class A
838
298,085
Arch Capital Group Ltd.
2,274
195,700
Arthur J. Gallagher & Co.
1,588
456,153
Brown & Brown, Inc.
1,794
163,918
Chubb Ltd.
2,623
697,823
Cincinnati Financial Corp.
902
133,054
Erie Indemnity Co., Class A
165
58,780
Hartford Insurance Group, Inc. (The)
2,544
316,448
Loews Corp.
880
79,675
Marsh & McLennan Cos., Inc.
3,456
688,435
MetLife, Inc.
4,149
315,117
Principal Financial Group, Inc.
1,677
130,521
Progressive Corp. (The)
3,605
872,554
Prudential Financial, Inc.
1,562
161,792
Travelers Cos., Inc. (The)
983
255,816
W.R. Berkley Corp.
2,158
148,492
 
5,916,690
INTERACTIVE MEDIA & SERVICES
- 6.9%
Alphabet, Inc., Class A
30,400
5,833,760
Alphabet, Inc., Class C
26,334
5,078,775
Match Group, Inc.
831
28,478
Meta Platforms, Inc., Class A
11,708
9,055,436
 
19,996,449
IT SERVICES - 1.1%
Accenture PLC, Class A
4,460
1,191,266
Akamai Technologies, Inc.(a)
2,717
207,334
Cognizant Technology Solutions Corp.,
Class A
2,667
191,384
EPAM Systems, Inc.(a)
26
4,100
Gartner, Inc.(a)
21
7,112
GoDaddy, Inc., Class A(a)
313
50,575
International Business Machines Corp.
6,051
1,531,811
 
3,183,582
LEISURE PRODUCTS - 0.1%
Hasbro, Inc.
4,545
341,602
 
See Notes to Schedule of Investments.
33
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED LARGE CAP FUND
 
Shares
Value
LIFE SCIENCES TOOLS &
SERVICES - 1.7%
Agilent Technologies, Inc.
5,261
$604,015
Bio-Techne Corp.
2,182
119,421
Danaher Corp.
7,212
1,421,918
IQVIA Holdings, Inc.(a)
2,944
547,172
Mettler-Toledo International, Inc.(a)
657
810,528
Revvity, Inc.
3,707
325,845
Waters Corp.(a)
2,171
626,898
West Pharmaceutical Services, Inc.
1,839
439,999
 
4,895,796
MACHINERY - 1.2%
Caterpillar, Inc.
2,410
1,055,628
Deere & Co.
1,065
558,454
Fortive Corp.
2,024
97,010
Illinois Tool Works, Inc.
1,058
270,816
Ingersoll Rand, Inc.
5,301
448,624
Otis Worldwide Corp.
2,409
206,427
PACCAR, Inc.
2,498
246,703
Parker-Hannifin Corp.
255
186,635
Stanley Black & Decker, Inc.
79
5,344
Westinghouse Air Brake Technologies
Corp.
441
84,694
Xylem, Inc.
1,037
149,971
 
3,310,306
MEDIA - 0.5%
Charter Communications, Inc., Class A(a)
35
9,428
Comcast Corp., Class A
21,354
709,593
Fox Corp., Class A
1,088
60,667
Fox Corp., Class B
3,263
166,870
Interpublic Group of Cos., Inc. (The)
14,342
352,813
News Corp., Class A
2,690
78,871
News Corp., Class B
1,680
56,145
Omnicom Group, Inc.
621
44,743
Paramount Global, Class B
3,380
42,487
 
1,521,617
METALS & MINING - 0.3%
Freeport-McMoRan, Inc.
7,958
320,230
Newmont Corp.
5,613
348,567
Nucor Corp.
757
108,304
Steel Dynamics, Inc.
412
52,555
 
829,656
MULTI-UTILITIES - 0.8%
Ameren Corp.
1,395
141,076
CenterPoint Energy, Inc.
5,180
201,088
CMS Energy Corp.
2,241
165,386
Consolidated Edison, Inc.
3,297
341,239
 
Shares
Value
Dominion Energy, Inc.
4,568
$267,000
DTE Energy Co.
1,123
155,434
NiSource, Inc.
4,370
185,507
Public Service Enterprise Group, Inc.
3,290
295,409
Sempra
3,920
320,186
WEC Energy Group, Inc.
2,365
257,974
 
2,330,299
OFFICE REAL ESTATE
INVESTMENT TRUSTS - 0.1%
BXP, Inc.
4,429
289,790
 
OIL, GAS & CONSUMABLE FUELS -
2.8%
APA Corp.
1,420
27,392
Chevron Corp.
10,349
1,569,244
ConocoPhillips
7,205
686,925
Coterra Energy, Inc.
4,790
116,828
Devon Energy Corp.
3,180
105,640
Diamondback Energy, Inc.
762
113,279
EOG Resources, Inc.
2,618
314,212
EQT Corp.
1,813
97,449
Exxon Mobil Corp.
24,275
2,710,061
Kinder Morgan, Inc.
18,540
520,232
Marathon Petroleum Corp.
1,695
288,472
Occidental Petroleum Corp.
3,985
175,101
ONEOK, Inc.
2,812
230,893
Phillips 66
2,131
263,349
Targa Resources Corp.
864
143,778
Texas Pacific Land Corp.
161
155,869
Valero Energy Corp.
1,591
218,460
Williams Cos., Inc. (The)
7,696
461,375
 
8,198,559
PASSENGER AIRLINES - 0.1%
Delta Air Lines, Inc.
2,003
106,580
Southwest Airlines Co.
3,302
102,131
United Airlines Holdings, Inc.(a)
710
62,700
 
271,411
PERSONAL CARE PRODUCTS - 0.1%
Estee Lauder Cos., Inc., (The) Class A
621
57,964
Kenvue, Inc.
10,007
214,550
 
272,514
PHARMACEUTICALS - 0.5%
Zoetis, Inc.
10,233
1,491,869
 
PROFESSIONAL SERVICES - 0.5%
Automatic Data Processing, Inc.
3,166
979,877
See Notes to Schedule of Investments.
34
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED LARGE CAP FUND
 
Shares
Value
Broadridge Financial Solutions, Inc.
96
$23,761
Jacobs Solutions, Inc.
560
79,447
Paychex, Inc.
2,190
316,083
 
1,399,168
REAL ESTATE MANAGEMENT &
DEVELOPMENT - 0.3%
CBRE Group, Inc., Class A(a)
3,705
577,017
CoStar Group, Inc.(a)
1,886
179,528
 
756,545
RESIDENTIAL REAL ESTATE
INVESTMENT TRUSTS - 0.1%
Equity Residential
2,389
150,985
Invitation Homes, Inc.
175
5,364
UDR, Inc.
2,330
91,545
 
247,894
RETAIL REAL ESTATE
INVESTMENT TRUSTS - 0.2%
Federal Realty Investment Trust
135
12,442
Kimco Realty Corp.
5,150
109,335
Realty Income Corp.
3,880
217,784
Regency Centers Corp.
1,945
138,873
Simon Property Group, Inc.
1,289
211,125
 
689,559
SEMICONDUCTORS &
SEMICONDUCTOR EQUIPMENT -
13.6%
Advanced Micro Devices, Inc.(a)
10,875
1,917,371
Analog Devices, Inc.
4,036
906,607
Applied Materials, Inc.
6,001
1,080,540
Broadcom, Inc.
24,940
7,324,878
Enphase Energy, Inc.(a)
358
11,585
First Solar, Inc.(a)
332
58,010
Intel Corp.
35,970
712,206
KLA Corp.
176
154,709
Lam Research Corp.
10,594
1,004,735
Microchip Technology, Inc.
490
33,119
Micron Technology, Inc.
5,144
561,416
Monolithic Power Systems, Inc.
72
51,209
NVIDIA Corp.
132,621
23,589,297
NXP Semiconductors N.V.
2,723
582,096
ON Semiconductor Corp.(a)
912
51,400
QUALCOMM, Inc.
4,273
627,106
Teradyne, Inc.
150
16,115
Texas Instruments, Inc.
3,232
585,186
 
39,267,585
SOFTWARE - 12.1%
Adobe, Inc.(a)
3,085
1,103,474
 
Shares
Value
Autodesk, Inc.(a)
2,160
$654,718
Cadence Design Systems, Inc.(a)
2,388
870,593
Crowdstrike Holdings, Inc., Class A(a)
1,323
601,396
Fair Isaac Corp.(a)
128
183,900
Fortinet, Inc.(a)
3,098
309,490
Gen Digital, Inc.
4,396
129,638
Intuit, Inc.
1,866
1,465,053
Microsoft Corp.
39,676
21,167,146
Oracle Corp.
8,536
2,166,181
Palantir Technologies, Inc., Class A(a)
10,785
1,707,805
Palo Alto Networks, Inc.(a)
5,117
888,311
Salesforce, Inc.
5,249
1,355,974
ServiceNow, Inc.(a)
1,431
1,349,605
Synopsys, Inc.(a)
888
562,800
Workday, Inc., Class A(a)
2,143
491,561
 
35,007,645
SPECIALIZED REAL ESTATE
INVESTMENT TRUSTS - 1.2%
American Tower Corp.
3,889
810,429
Crown Castle, Inc.
5,361
563,387
Digital Realty Trust, Inc.
3,444
607,659
Equinix, Inc.
901
707,438
Extra Space Storage, Inc.
971
130,464
Iron Mountain, Inc.
1,456
141,756
SBA Communications Corp.
1,821
409,215
Weyerhaeuser Co.
5,852
146,593
 
3,516,941
SPECIALTY RETAIL - 2.0%
Best Buy Co., Inc.
5,356
348,461
CarMax, Inc.(a)
5,478
310,110
Home Depot, Inc. (The)
6,275
2,306,125
Lowe’s Cos., Inc.
4,415
987,062
TJX Cos., Inc. (The)
6,350
790,765
Tractor Supply Co.
8,524
485,442
Williams-Sonoma, Inc.
2,221
415,438
 
5,643,403
TECHNOLOGY HARDWARE,
STORAGE & PERIPHERALS -
6.6%
Apple, Inc.
79,651
16,533,158
Dell Technologies, Inc., Class C
272
36,092
Hewlett Packard Enterprise Co.
24,668
510,381
HP, Inc.
16,795
416,516
NetApp, Inc.
3,865
402,462
Seagate Technology Holdings PLC
3,210
504,002
See Notes to Schedule of Investments.
35
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED LARGE CAP FUND
 
Shares
Value
Super Micro Computer, Inc.(a)
1,890
$111,453
Western Digital Corp.
6,446
507,236
 
19,021,300
TEXTILES, APPAREL & LUXURY
GOODS - 0.3%
Deckers Outdoor Corp.(a)
3,814
404,932
NIKE, Inc., Class B
5,426
405,268
Ralph Lauren Corp.
28
8,365
Tapestry, Inc.
924
99,820
 
918,385
TRADING COMPANIES &
DISTRIBUTORS - 0.3%
Fastenal Co.
6,832
315,160
United Rentals, Inc.
121
106,836
W.W. Grainger, Inc.
515
535,363
 
957,359
WATER UTILITIES - 0.1%
American Water Works Co., Inc.
1,074
150,618
 
WIRELESS TELECOMMUNICATION
SERVICES - 0.3%
T-Mobile U.S., Inc.
3,364
802,011
 
TOTAL COMMON STOCKS
(COST $197,808,783)
287,975,545
 
Shares
Value
RIGHTS - 0.0%
 
HEALTH CARE EQUIPMENT & SUPPLIES - 0.0%
Contra Abiomed, Inc. (Contingent Value
Rights)(a)(b)(c)
373
$—
 
TOTAL RIGHTS
(COST $—)
—

MONEY MARKET FUND - 0.2%
Northern Institutional Treasury Portfolio
(Premier Class), 4.15%(d)
513,530
513,530
TOTAL MONEY MARKET FUND
(COST $513,530)
513,530
 
TOTAL INVESTMENTS
(COST $198,322,313) - 100.1%
288,489,075
 
LIABILITIES IN EXCESS OF
OTHER ASSETS - (0.1)%
(174,689
)
NET ASSETS - 100.0%
$288,314,386
 
 
(a)
Non-income producing security.
 
(b)
Security is a Level 3 investment and was valued using significant
unobservable inputs as of period end.
 
(c)
Amounts denoted as ‘‘—’’ are less than $0.50.
 
(d)
7-day current yield as of July 31, 2025.
 
N.V. — Naamloze Vennootschap
PLC — Public Limited Company
SA — Societe Anonyme
See Notes to Schedule of Investments.
36
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED SMALL-MID CAP FUND
 
 
Shares
Value
COMMON STOCKS - 99.5%
 
AEROSPACE & DEFENSE - 2.1%
AAR Corp.(a)
1,599
$119,461
AeroVironment, Inc.(a)
1,258
336,691
ATI, Inc.(a)
6,227
479,105
BWX Technologies, Inc.
4,259
647,070
Curtiss-Wright Corp.
1,575
772,097
Hexcel Corp.
3,894
233,290
Kratos Defense & Security Solutions,
Inc.(a)
3,509
205,978
Mercury Systems, Inc.(a)
2,568
135,051
Moog, Inc., Class A
887
171,705
National Presto Industries, Inc.
48
4,630
Woodward, Inc.
2,945
757,101
 
3,862,179
AIR FREIGHT & LOGISTICS - 0.2%
Forward Air Corp.(a)
1,308
39,750
GXO Logistics, Inc.(a)
5,534
275,095
Hub Group, Inc., Class A
2,982
104,430
 
419,275
AUTOMOBILE COMPONENTS - 1.2%
Adient PLC(a)
4,386
94,036
American Axle & Manufacturing
Holdings, Inc.(a)
6,850
30,482
Autoliv, Inc.
2,512
280,214
BorgWarner, Inc.
13,853
509,790
Dana, Inc.
7,151
113,844
Dorman Products, Inc.(a)
422
50,902
Fox Factory Holding Corp.(a)
1,440
43,733
Gentex Corp.
11,098
293,209
Gentherm, Inc.(a)
1,290
41,332
Goodyear Tire & Rubber Co. (The)(a)
13,896
142,851
Lear Corp.
4,304
405,824
Patrick Industries, Inc.
1,038
100,935
Phinia, Inc.
1,505
76,303
Standard Motor Products, Inc.
289
8,774
XPEL, Inc.(a)
665
21,739
 
2,213,968
AUTOMOBILES - 0.3%
Harley-Davidson, Inc.
12,816
311,813
Thor Industries, Inc.
1,609
146,403
 
458,216
BANKS - 7.3%
Ameris Bancorp
3,025
206,759
Associated Banc-Corp
7,939
196,411
Atlantic Union Bankshares Corp.
1,684
53,383
Axos Financial, Inc.(a)
2,598
224,337
 
Shares
Value
Banc of California, Inc.
7,435
$107,956
BancFirst Corp.
122
15,191
Bancorp, Inc. (The)(a)
2,490
157,268
Bank of Hawaii Corp.
1,748
108,166
Bank OZK
4,739
233,633
BankUnited, Inc.
3,511
128,046
Banner Corp.
1,024
63,565
Berkshire Hills Bancorp, Inc.
2,660
65,542
Brookline Bancorp, Inc.
6,100
62,952
Cadence Bank
9,327
325,046
Capitol Federal Financial, Inc.
6,050
36,421
Cathay General Bancorp
2,917
131,907
Central Pacific Financial Corp.
1,180
31,459
Columbia Banking System, Inc.
11,152
265,418
Comerica, Inc.
6,457
436,299
Commerce Bancshares, Inc.
5,671
347,065
Community Financial System, Inc.
2,134
112,462
Customers Bancorp, Inc.(a)
1,293
82,429
CVB Financial Corp.
6,829
127,634
Dime Community Bancshares, Inc.,
Class B
2,282
63,234
Eagle Bancorp, Inc.
1,440
23,170
East West Bancorp, Inc.
6,710
672,677
F.N.B. Corp.
20,435
313,064
FB Financial Corp.
1,861
90,742
First Bancorp
1,870
93,668
First BanCorp (New York Exchange)
8,874
184,845
First Commonwealth Financial Corp.
4,960
81,890
First Financial Bancorp
4,760
115,382
First Financial Bankshares, Inc.
6,259
216,687
First Hawaiian, Inc.
6,020
145,985
First Horizon Corp.
26,847
585,533
Flagstar Financial, Inc.
12,450
140,561
Fulton Financial Corp.
9,939
178,405
Glacier Bancorp, Inc.
5,236
229,494
Hancock Whitney Corp.
3,656
218,336
Hanmi Financial Corp.
1,901
43,362
Heritage Financial Corp.
1,430
32,232
Hilltop Holdings, Inc.
3,183
94,217
Home Bancshares, Inc.
9,688
272,814
Hope Bancorp, Inc.
8,372
83,636
Independent Bank Corp.
905
57,513
International Bancshares Corp.
2,304
157,087
Lakeland Financial Corp.
919
58,237
National Bank Holdings Corp., Class A
1,800
66,708
NBT Bancorp, Inc.
2,040
84,415
Northwest Bancshares, Inc.
4,090
47,853
See Notes to Schedule of Investments.
37
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED SMALL-MID CAP FUND
 
Shares
Value
OFG Bancorp
2,491
$106,166
Old National Bancorp
16,416
346,542
Pacific Premier Bancorp, Inc.
4,668
101,156
Pathward Financial, Inc.
1,122
84,851
Pinnacle Financial Partners, Inc.
2,849
250,399
Prosperity Bancshares, Inc.
4,135
275,474
Provident Financial Services, Inc.
3,730
67,961
Renasant Corp.
2,934
107,502
S&T Bancorp, Inc.
1,690
61,922
Seacoast Banking Corp. of Florida
3,510
98,947
ServisFirst Bancshares, Inc.
2,639
207,557
Simmons First National Corp., Class A
5,852
112,183
Southside Bancshares, Inc.
1,286
37,860
SouthState Corp.
4,428
416,985
Stellar Bancorp, Inc.
3,104
91,661
Synovus Financial Corp.
6,547
309,280
Texas Capital Bancshares, Inc.(a)
2,189
183,810
Tompkins Financial Corp.
60
3,881
Triumph Financial, Inc.(a)
1,246
70,673
TrustCo Bank Corp. NY
800
26,848
Trustmark Corp.
3,420
127,395
UMB Financial Corp.
1,793
197,212
United Bankshares, Inc.
6,379
226,582
United Community Banks, Inc.
5,632
171,776
Valley National Bancorp
22,624
209,724
Veritex Holdings, Inc.
2,803
88,911
WaFd, Inc.
3,255
94,737
Webster Financial Corp.
7,649
440,965
Westamerica BanCorp
690
33,051
Western Alliance Bancorp
3,958
306,982
Wintrust Financial Corp.
1,957
250,457
WSFS Financial Corp.
2,639
144,723
Zions Bancorp
6,475
347,190
 
13,472,459
BEVERAGES - 0.4%
Celsius Holdings, Inc.(a)
7,482
339,234
Coca-Cola Consolidated, Inc.
2,650
296,137
National Beverage Corp.(a)
1,346
61,674
 
697,045
BIOTECHNOLOGY - 2.2%
ADMA Biologics, Inc.(a)
3,794
70,948
Alkermes PLC(a)
6,928
183,523
Arcus Biosciences, Inc.(a)
3,030
27,664
Arrowhead Pharmaceuticals, Inc.(a)
5,688
89,870
BioMarin Pharmaceutical, Inc.(a)
10,392
601,177
Catalyst Pharmaceuticals, Inc.(a)
5,390
114,969
Cytokinetics, Inc.(a)
6,089
229,190
 
Shares
Value
Dynavax Technologies Corp.(a)
6,528
$71,677
Exelixis, Inc.(a)
14,784
535,476
Krystal Biotech, Inc.(a)
1,487
228,805
Myriad Genetics, Inc.(a)
4,317
16,577
Neurocrine Biosciences, Inc.(a)
4,988
639,611
Protagonist Therapeutics, Inc.(a)
2,605
140,305
Roivant Sciences Ltd.(a)
16,728
190,030
Sarepta Therapeutics, Inc.(a)
5,254
86,271
TG Therapeutics, Inc.(a)
4,639
164,685
United Therapeutics Corp.(a)
1,847
507,371
Vericel Corp.(a)
2,286
79,873
Vir Biotechnology, Inc.(a)
4,180
21,193
Xencor, Inc.(a)
3,272
27,223
 
4,026,438
BROADLINE RETAIL - 0.4%
Etsy, Inc.(a)
2,571
149,812
Kohl's Corp.
5,090
55,176
Macy's, Inc.
13,125
165,769
Ollie's Bargain Outlet Holdings, Inc.(a)
2,964
404,971
 
775,728
BUILDING PRODUCTS - 2.8%
AAON, Inc.
3,505
292,667
Advanced Drainage Systems, Inc.
3,514
403,231
Apogee Enterprises, Inc.
1,081
45,391
Armstrong World Industries, Inc.
1,896
356,770
AZZ, Inc.
1,273
139,394
Carlisle Cos., Inc.
1,244
441,259
CSW Industrials, Inc.
441
114,431
Fortune Brands Innovations, Inc.
5,917
322,713
Gibraltar Industries, Inc.(a)
1,330
87,820
Griffon Corp.
1,932
157,014
Hayward Holdings, Inc.(a)
6,637
102,077
Insteel Industries, Inc.
960
34,656
Masterbrand, Inc.(a)
4,058
44,760
Owens Corning
3,352
467,369
Quanex Building Products Corp.
2,025
39,447
Resideo Technologies, Inc.(a)
18,002
491,455
Simpson Manufacturing Co., Inc.
2,023
362,987
Trex Co., Inc.(a)
4,986
320,301
UFP Industries, Inc.
2,944
288,512
Zurn Elkay Water Solutions Corp.,
Class C
13,541
599,189
 
5,111,443
CAPITAL MARKETS - 3.5%
Acadian Asset Management, Inc.
2,520
105,311
Artisan Partners Asset Management, Inc.,
Class A
2,578
116,654
BGC Group, Inc., Class A
11,665
108,135
See Notes to Schedule of Investments.
38
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED SMALL-MID CAP FUND
 
Shares
Value
Cohen & Steers, Inc.
1,440
$105,926
Donnelley Financial Solutions, Inc.(a)
1,317
69,748
Evercore, Inc., Class A
924
278,253
Federated Hermes, Inc.
4,292
212,754
Hamilton Lane, Inc., Class A
1,864
283,887
Houlihan Lokey, Inc.
3,462
660,065
Interactive Brokers Group, Inc., Class A
21,074
1,381,611
Janus Henderson Group PLC
11,290
488,857
Jefferies Financial Group, Inc.
8,667
499,739
Morningstar, Inc.
771
213,151
PJT Partners, Inc., Class A
1,390
248,282
SEI Investments Co.
5,255
463,071
StepStone Group, Inc., Class A
2,111
125,309
Stifel Financial Corp.
5,538
631,997
StoneX Group, Inc.(a)
2,295
223,166
Virtu Financial, Inc., Class A
2,849
125,755
WisdomTree, Inc.
6,910
91,696
 
6,433,367
CHEMICALS - 1.7%
AdvanSix, Inc.
1,540
30,985
Ashland, Inc.
2,461
126,889
Avient Corp.
4,516
142,570
Axalta Coating Systems Ltd.(a)
8,594
243,382
Balchem Corp.
1,610
245,477
Cabot Corp.
2,990
215,818
Celanese Corp.
1,401
73,174
Chemours Co. (The)
7,093
84,974
H.B. Fuller Co.
2,488
139,826
Hawkins, Inc.
1,076
175,689
Ingevity Corp.(a)
1,450
60,595
Innospec, Inc.
1,083
86,532
Koppers Holdings, Inc.
653
21,458
Minerals Technologies, Inc.
1,404
81,643
Olin Corp.
5,503
104,227
RPM International, Inc.
7,008
822,809
Scotts Miracle-Gro Co. (The)
2,114
132,463
Sensient Technologies Corp.
1,950
218,965
Stepan Co.
502
25,487
Westlake Corp.
1,756
139,251
 
3,172,214
COMMERCIAL SERVICES &
SUPPLIES - 2.1%
ABM Industries, Inc.
3,050
140,697
Brady Corp., Class A
2,095
147,844
Brink's Co. (The)
1,859
162,365
Clean Harbors, Inc.(a)
1,603
378,003
 
Shares
Value
Corecivic, Inc.(a)
5,864
$117,515
Deluxe Corp.
2,730
43,953
Enviri Corp.(a)
5,250
47,250
Geo Group, Inc. (The)(a)
6,388
165,577
Healthcare Services Group, Inc.(a)
4,472
58,181
HNI Corp.
5,890
302,982
Interface, Inc.
3,860
79,593
Liquidity Services, Inc.(a)
1,830
43,700
MillerKnoll, Inc.
3,446
65,405
MSA Safety, Inc.
802
142,652
OPENLANE, Inc.(a)
5,891
145,154
Pitney Bowes, Inc.
11,310
128,482
RB Global, Inc.
9,164
992,095
Tetra Tech, Inc.
15,895
583,982
Vestis Corp.
6,657
40,341
 
3,785,771
COMMUNICATIONS EQUIPMENT -
0.9%
Calix, Inc.(a)
2,883
163,437
Ciena Corp.(a)
6,801
631,405
Digi International, Inc.(a)
2,020
65,872
Extreme Networks, Inc.(a)
6,896
121,783
Harmonic, Inc.(a)
5,853
49,809
Lumentum Holdings, Inc.(a)
3,010
331,341
NetScout Systems, Inc.(a)
3,590
76,898
Viasat, Inc.(a)
3,400
55,862
Viavi Solutions, Inc.(a)
14,010
140,801
 
1,637,208
CONSTRUCTION & ENGINEERING -
3.1%
AECOM
6,591
743,069
Arcosa, Inc.
2,319
199,156
Comfort Systems USA, Inc.
1,740
1,223,742
Dycom Industries, Inc.(a)
1,286
345,690
EMCOR Group, Inc.
2,062
1,293,884
Everus Construction Group, Inc.(a)
1,003
74,483
Fluor Corp.(a)
7,771
441,160
Granite Construction, Inc.
2,021
190,924
MasTec, Inc.(a)
2,838
536,978
MYR Group, Inc.(a)
679
131,387
Sterling Infrastructure, Inc.(a)
1,416
378,907
Valmont Industries, Inc.
613
223,101
 
5,782,481
See Notes to Schedule of Investments.
39
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED SMALL-MID CAP FUND
 
Shares
Value
CONSTRUCTION MATERIALS - 0.2%
Eagle Materials, Inc.
884
$198,272
Knife River Corp.(a)
2,630
216,923
 
415,195
CONSUMER FINANCE - 0.8%
Ally Financial, Inc.
13,317
504,048
Bread Financial Holdings, Inc.
1,718
105,313
Enova International, Inc.(a)
1,012
105,815
EZCORP, Inc., Class A(a)
3,780
54,130
FirstCash Holdings, Inc.
1,941
258,716
Navient Corp.
5,335
69,035
PRA Group, Inc.(a)
1,930
29,336
PROG Holdings, Inc.
1,938
61,706
SLM Corp.
11,586
368,435
 
1,556,534
CONSUMER STAPLES
DISTRIBUTION & RETAIL - 2.0%
Andersons, Inc. (The)
1,604
57,616
BJ's Wholesale Club Holdings, Inc.(a)
7,168
759,091
Chefs' Warehouse, Inc. (The)(a)
1,953
133,898
Grocery Outlet Holding Corp.(a)
5,084
66,956
Maplebear, Inc.(a)
5,080
243,688
PriceSmart, Inc.
1,287
138,352
SpartanNash Co.
2,424
64,333
Sprouts Farmers Market, Inc.(a)
5,158
781,643
United Natural Foods, Inc.(a)
3,380
93,423
US Foods Holding Corp.(a)
16,244
1,353,613
 
3,692,613
CONTAINERS & PACKAGING - 1.2%
AptarGroup, Inc.
1,916
301,080
Crown Holdings, Inc.
6,919
687,472
Graphic Packaging Holding Co.
12,278
274,536
Greif, Inc., Class A
578
36,663
O-I Glass, Inc.(a)
8,295
107,918
Sealed Air Corp.
13,630
398,950
Silgan Holdings, Inc.
4,150
193,100
Sonoco Products Co.
4,491
202,409
 
2,202,128
DIVERSIFIED CONSUMER
SERVICES - 1.6%
Adtalem Global Education, Inc.(a)
1,957
223,626
Duolingo, Inc.(a)
1,739
602,650
Frontdoor, Inc.(a)
6,582
385,047
Grand Canyon Education, Inc.(a)
1,406
237,094
H&R Block, Inc.
7,149
388,477
Matthews International Corp., Class A
1,816
42,658
 
Shares
Value
Mister Car Wash, Inc.(a)
6,790
$39,212
Perdoceo Education Corp.
3,665
105,479
Service Corp. International
7,737
590,411
Strategic Education, Inc.
1,126
83,487
Stride, Inc.(a)
2,338
299,802
 
2,997,943
DIVERSIFIED REAL ESTATE
INVESTMENT TRUSTS - 0.6%
Alexander & Baldwin, Inc.
4,923
88,516
American Assets Trust, Inc.
3,540
67,366
Armada Hoffler Properties, Inc.
4,940
33,740
Essential Properties Realty Trust, Inc.
7,880
240,261
Global Net Lease, Inc.
5,720
39,983
WP Carey, Inc.
10,996
705,503
 
1,175,369
DIVERSIFIED
TELECOMMUNICATION
SERVICES - 0.5%
Cogent Communications Holdings, Inc.
2,348
107,045
Frontier Communications Parent, Inc.(a)
10,886
399,952
Iridium Communications, Inc.
5,940
145,293
Lumen Technologies, Inc.(a)
41,956
186,704
Shenandoah Telecommunications Co.
2,630
38,608
 
877,602
ELECTRIC UTILITIES - 1.0%
ALLETE, Inc.
2,558
168,649
IDACORP, Inc.
2,451
307,184
MGE Energy, Inc.
2,181
185,254
OGE Energy Corp.
11,289
512,746
Otter Tail Corp.
2,248
173,501
Portland General Electric Co.
5,100
209,712
TXNM Energy, Inc.
4,370
248,172
 
1,805,218
ELECTRICAL EQUIPMENT - 1.3%
Acuity, Inc.
933
290,490
EnerSys
1,410
130,242
NEXTracker, Inc., Class A(a)
5,711
332,723
nVent Electric PLC
7,714
604,932
Powell Industries, Inc.
431
102,190
Regal Rexnord Corp.
2,231
341,075
Sensata Technologies Holding PLC
12,708
390,898
Sunrun, Inc.(a)
10,629
109,053
Vicor Corp.(a)
963
42,796
 
2,344,399
See Notes to Schedule of Investments.
40
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED SMALL-MID CAP FUND
 
Shares
Value
ELECTRONIC EQUIPMENT,
INSTRUMENTS
& COMPONENTS - 3.7%
Advanced Energy Industries, Inc.
1,331
$184,903
Arlo Technologies, Inc.(a)
4,756
77,047
Arrow Electronics, Inc.(a)
376
43,616
Avnet, Inc.
7,162
379,156
Badger Meter, Inc.
2,203
415,838
Belden, Inc.
1,636
202,291
Benchmark Electronics, Inc.
4,232
162,932
Cognex Corp.
7,872
320,941
Coherent Corp.(a)
7,183
772,891
CTS Corp.
1,540
60,353
ePlus, Inc.(a)
1,051
68,084
Fabrinet(a)
1,483
480,092
Flex Ltd.(a)
9,316
464,589
Insight Enterprises, Inc.(a)
844
100,082
IPG Photonics Corp.(a)
718
53,771
Itron, Inc.(a)
3,257
405,627
Knowles Corp.(a)
5,710
115,970
Littelfuse, Inc.
250
64,333
Novanta, Inc.(a)
3,082
379,148
OSI Systems, Inc.(a)
517
114,262
PC Connection, Inc.
292
17,984
Plexus Corp.(a)
2,673
340,807
Sanmina Corp.(a)
2,452
284,530
ScanSource, Inc.(a)
1,287
49,987
TD SYNNEX Corp.
3,207
463,059
TTM Technologies, Inc.(a)
5,989
282,980
Vishay Intertechnology, Inc.
6,180
101,290
Vontier Corp.
7,269
301,445
 
6,708,008
ENERGY EQUIPMENT & SERVICES
- 0.8%
Archrock, Inc.
6,683
156,115
Bristow Group, Inc.(a)
1,036
35,815
Cactus, Inc., Class A
3,350
141,738
Core Laboratories, Inc.
2,630
28,772
Helix Energy Solutions Group, Inc.(a)
6,820
40,443
Helmerich & Payne, Inc.
4,210
68,244
Innovex International, Inc.(a)
1,791
29,408
Liberty Energy, Inc.
5,634
69,524
NOV, Inc.
18,964
238,567
Oceaneering International, Inc.(a)
4,963
107,697
Patterson-UTI Energy, Inc.
15,877
93,833
ProPetro Holding Corp.(a)
6,670
35,751
RPC, Inc.
5,720
26,598
Tidewater, Inc.(a)
2,490
124,525
 
Shares
Value
Valaris Ltd.(a)
2,459
$119,581
Weatherford International PLC
3,840
217,152
 
1,533,763
ENTERTAINMENT - 0.2%
Cinemark Holdings, Inc.
5,505
147,919
Warner Music Group Corp., Class A
5,110
149,519
 
297,438
FINANCIAL SERVICES - 2.3%
Equitable Holdings, Inc.
13,609
698,822
Essent Group Ltd.
4,932
276,143
Euronet Worldwide, Inc.(a)
1,990
193,388
EVERTEC, Inc.
3,328
120,307
HA Sustainable Infrastructure Capital,
Inc.
12,260
318,392
Jackson Financial, Inc., Class A
2,988
261,629
MGIC Investment Corp.
13,981
362,108
Mr. Cooper Group, Inc.(a)
2,910
453,145
NCR Atleos Corp.(a)
3,331
101,929
NMI Holdings, Inc.(a)
4,217
157,379
Payoneer Global, Inc.(a)
11,244
73,873
Radian Group, Inc.
5,324
173,616
Shift4 Payments, Inc., Class A(a)
2,624
270,272
Voya Financial, Inc.
4,730
331,100
Walker & Dunlop, Inc.
1,414
106,064
Western Union Co. (The)
17,868
143,837
WEX, Inc.(a)
561
95,191
 
4,137,195
FOOD PRODUCTS - 1.1%
B&G Foods, Inc.
4,180
17,138
Cal-Maine Foods, Inc.
2,036
226,281
Darling Ingredients, Inc.(a)
7,477
242,105
Flowers Foods, Inc.
10,684
169,341
Fresh Del Monte Produce, Inc.
2,440
91,720
Freshpet, Inc.(a)
1,151
78,636
Ingredion, Inc.
3,535
464,994
Marzetti Co. (The)
311
55,283
Pilgrim's Pride Corp.
2,602
123,309
Post Holdings, Inc.(a)
2,615
276,693
Simply Good Foods Co. (The)(a)
4,622
140,786
Tootsie Roll Industries, Inc.
1,632
61,902
TreeHouse Foods, Inc.(a)
2,648
50,895
WK Kellogg Co.
3,278
75,558
 
2,074,641
GAS UTILITIES - 1.0%
MDU Resources Group, Inc.
10,521
181,487
National Fuel Gas Co.
4,106
356,360
New Jersey Resources Corp.
4,887
224,362
See Notes to Schedule of Investments.
41
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED SMALL-MID CAP FUND
 
Shares
Value
Northwest Natural Holding Co.
1,790
$71,457
ONE Gas, Inc.
2,678
194,691
Southwest Gas Holdings, Inc.
2,757
215,432
Spire, Inc.
2,438
181,558
UGI Corp.
10,407
376,525
 
1,801,872
GROUND TRANSPORTATION - 1.4%
ArcBest Corp.
3,709
271,239
Avis Budget Group, Inc.(a)
1,927
328,052
Heartland Express, Inc.
2,983
23,327
Hertz Global Holdings, Inc.(a)
7,458
47,806
Knight-Swift Transportation Holdings,
Inc.
7,539
320,408
Marten Transport Ltd.
4,069
49,479
RXO, Inc.(a)
5,900
91,155
Ryder System, Inc.
2,808
499,010
Saia, Inc.(a)
689
208,243
Werner Enterprises, Inc.
3,400
94,248
XPO, Inc.(a)
5,297
637,176
 
2,570,143
HEALTH CARE EQUIPMENT &
SUPPLIES - 2.2%
Artivion, Inc.(a)
2,273
70,258
Avanos Medical, Inc.(a)
2,830
31,611
CONMED Corp.
1,366
69,871
DENTSPLY SIRONA, Inc.
8,153
116,669
Embecta Corp.
3,072
31,212
Enovis Corp.(a)
2,539
68,045
Envista Holdings Corp.(a)
8,891
167,951
Glaukos Corp.(a)
2,864
246,562
Globus Medical, Inc., Class A(a)
5,872
309,043
Haemonetics Corp.(a)
2,756
204,054
ICU Medical, Inc.(a)
578
74,221
Inspire Medical Systems, Inc.(a)
1,488
185,315
Integer Holdings Corp.(a)
2,072
224,833
Integra LifeSciences Holdings Corp.(a)
3,797
49,893
Lantheus Holdings, Inc.(a)
3,519
250,518
LeMaitre Vascular, Inc.
1,170
95,051
LivaNova PLC(a)
2,579
108,808
Masimo Corp.(a)
2,023
311,117
Merit Medical Systems, Inc.(a)
3,279
278,256
Neogen Corp.(a)
10,598
49,281
Omnicell, Inc.(a)
2,161
67,013
Penumbra, Inc.(a)
1,622
409,182
QuidelOrtho Corp.(a)
2,248
51,749
STAAR Surgical Co.(a)
8,395
150,396
Tandem Diabetes Care, Inc.(a)
3,127
48,719
 
Shares
Value
Teleflex, Inc.
169
$20,195
TransMedics Group, Inc.(a)
1,693
201,416
UFP Technologies, Inc.(a)
252
57,050
 
3,948,289
HEALTH CARE PROVIDERS &
SERVICES - 2.0%
Acadia Healthcare Co., Inc.(a)
4,958
107,936
AdaptHealth Corp.(a)
4,790
42,966
Addus HomeCare Corp.(a)
295
31,500
Amedisys, Inc.(a)
1,887
186,058
AMN Healthcare Services, Inc.(a)
1,763
32,333
Astrana Health, Inc.(a)
2,138
51,013
Concentra Group Holdings Parent, Inc.
4,802
95,896
CorVel Corp.(a)
1,070
94,802
Encompass Health Corp.
5,592
615,735
Ensign Group, Inc. (The)
3,782
567,300
HealthEquity, Inc.(a)
4,133
400,901
Hims & Hers Health, Inc.(a)
8,593
568,685
National HealthCare Corp.
569
54,641
NeoGenomics, Inc.(a)
6,252
30,260
Option Care Health, Inc.(a)
8,738
256,460
Owens & Minor, Inc.(a)
4,621
32,023
Premier, Inc., Class A
2,936
63,065
Privia Health Group, Inc.(a)
4,927
96,175
Progyny, Inc.(a)
4,166
97,943
RadNet, Inc.(a)
3,438
188,162
Select Medical Holdings Corp.
5,951
88,015
U.S. Physical Therapy, Inc.
798
58,374
 
3,760,243
HEALTH CARE REAL ESTATE
INVESTMENT TRUSTS - 0.6%
CareTrust REIT, Inc.
5,808
184,694
Healthcare Realty Trust, Inc.
9,216
141,558
LTC Properties, Inc.
2,388
81,288
Omega Healthcare Investors, Inc.
11,613
451,746
Sabra Health Care REIT, Inc.
12,749
229,864
 
1,089,150
HEALTH CARE TECHNOLOGY -
0.3%
Certara, Inc.(a)
5,476
53,884
Doximity, Inc., Class A(a)
5,763
338,576
HealthStream, Inc.
1,710
44,733
Schrodinger, Inc.(a)
2,787
56,660
Simulations Plus, Inc.(a)
1,100
14,322
 
508,175
See Notes to Schedule of Investments.
42
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED SMALL-MID CAP FUND
 
Shares
Value
HOTEL & RESORT REAL ESTATE
INVESTMENT TRUSTS - 0.3%
Apple Hospitality REIT, Inc.
3,788
$44,509
DiamondRock Hospitality Co.
13,625
105,185
Park Hotels & Resorts, Inc.
11,563
123,262
Pebblebrook Hotel Trust
7,421
74,433
Ryman Hospitality Properties, Inc.
784
74,527
Summit Hotel Properties, Inc.
8,030
41,917
Sunstone Hotel Investors, Inc.
10,730
93,887
Xenia Hotels & Resorts, Inc.
6,067
77,111
 
634,831
HOTELS, RESTAURANTS &
LEISURE - 2.1%
Aramark
13,315
566,686
Cava Group, Inc.(a)
3,998
351,864
Choice Hotels International, Inc.
1,407
179,688
Hilton Grand Vacations, Inc.(a)
4,052
181,611
Hyatt Hotels Corp., Class A
2,682
378,082
Jack in the Box, Inc.
954
18,794
Marriott Vacations Worldwide Corp.
785
58,459
Papa John's International, Inc.
1,490
63,191
Planet Fitness, Inc., Class A(a)
4,106
448,334
Pursuit Attractions and Hospitality, Inc.(a)
1,079
32,629
Sabre Corp.(a)
18,980
57,509
Six Flags Entertainment Corp.(a)
4,275
128,079
Travel + Leisure Co.
3,756
222,543
Vail Resorts, Inc.
938
140,944
Wendy's Co. (The)
11,410
112,388
Wingstop, Inc.
1,283
484,127
Wyndham Hotels & Resorts, Inc.
4,366
375,476
 
3,800,404
HOUSEHOLD DURABLES - 1.9%
Cavco Industries, Inc.(a)
6
2,422
Champion Homes, Inc.(a)
621
37,819
Ethan Allen Interiors, Inc.
1,520
45,250
Green Brick Partners, Inc.(a)
1,527
94,582
Helen of Troy Ltd.(a)
109
2,396
Installed Building Products, Inc.
1,138
230,206
KB Home
6,642
367,037
La-Z-Boy, Inc.
2,426
87,263
Leggett & Platt, Inc.
7,766
74,165
Meritage Homes Corp.
1,940
130,640
Newell Brands, Inc.
70,745
396,880
Somnigroup International, Inc.
5,859
424,075
Sonos, Inc.(a)
6,940
75,021
Taylor Morrison Home Corp.(a)
5,181
307,130
Toll Brothers, Inc.
5,411
640,446
 
Shares
Value
TopBuild Corp.(a)
833
$308,568
Tri Pointe Homes, Inc.(a)
5,103
157,172
Whirlpool Corp.
1,612
133,861
 
3,514,933
HOUSEHOLD PRODUCTS - 0.1%
Central Garden & Pet Co.(a)
165
6,438
Central Garden & Pet Co., Class A(a)
2,847
101,125
Energizer Holdings, Inc.
3,903
87,896
 
195,459
INDEPENDENT POWER AND
RENEWABLE ELECTRICITY
PRODUCERS - 0.2%
Clearway Energy, Inc., Class A
389
11,974
Clearway Energy, Inc., Class C
2,670
87,122
Ormat Technologies, Inc.
2,749
245,788
 
344,884
INDUSTRIAL REAL ESTATE
INVESTMENT TRUSTS - 0.8%
EastGroup Properties, Inc.
1,747
285,180
First Industrial Realty Trust, Inc.
6,694
326,132
Innovative Industrial Properties, Inc.
665
34,381
LXP Industrial Trust
15,915
123,500
Rexford Industrial Realty, Inc.
10,410
380,277
STAG Industrial, Inc.
6,503
223,248
 
1,372,718
INSURANCE - 3.6%
American Financial Group, Inc.
2,813
351,344
AMERISAFE, Inc.
926
41,466
Assured Guaranty Ltd.
1,295
109,531
Brighthouse Financial, Inc.(a)
878
42,012
CNO Financial Group, Inc.
6,207
228,666
Employers Holdings, Inc.
1,234
50,940
Fidelity National Financial, Inc.
12,575
709,607
First American Financial Corp.
4,725
283,736
Genworth Financial, Inc.(a)
26,922
211,607
Goosehead Insurance, Inc., Class A
1,344
122,183
Hanover Insurance Group, Inc. (The)
1,137
195,143
HCI Group, Inc.
365
51,115
Horace Mann Educators Corp.
2,091
88,930
Kemper Corp.
2,787
171,651
Kinsale Capital Group, Inc.
822
362,247
Lincoln National Corp.
6,562
250,078
Mercury General Corp.
1,329
92,033
Old Republic International Corp.
13,685
494,986
Palomar Holdings, Inc.(a)
1,393
184,559
Primerica, Inc.
174
46,220
ProAssurance Corp.(a)
3,130
74,369
See Notes to Schedule of Investments.
43
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED SMALL-MID CAP FUND
 
Shares
Value
Reinsurance Group of America, Inc.
1,505
$289,637
RenaissanceRe Holdings Ltd.
1,148
279,814
RLI Corp.
5,854
386,305
Ryan Specialty Holdings, Inc.
5,414
331,283
Safety Insurance Group, Inc.
145
10,201
Selective Insurance Group, Inc.
3,355
261,589
SiriusPoint Ltd.(a)
6,324
124,014
Stewart Information Services Corp.
1,261
81,877
Trupanion, Inc.(a)
1,576
74,718
United Fire Group, Inc.
1,440
38,232
Unum Group
8,208
589,416
 
6,629,509
INTERACTIVE MEDIA & SERVICES
- 0.5%
Angi, Inc.(a)
1,617
26,228
Cargurus, Inc.(a)
4,013
131,707
Cars.com, Inc.(a)
3,584
46,126
IAC, Inc.(a)
3,081
121,083
QuinStreet, Inc.(a)
2,979
48,885
Shutterstock, Inc.
1,308
25,061
TripAdvisor, Inc.(a)
5,943
103,943
Yelp, Inc.(a)
3,325
114,480
Ziff Davis, Inc.(a)
1,851
57,603
ZoomInfo Technologies, Inc.(a)
15,048
162,970
 
838,086
IT SERVICES - 0.7%
ASGN, Inc.(a)
1,796
90,051
DigitalOcean Holdings, Inc.(a)
2,505
69,789
DXC Technology Co.(a)
7,713
104,974
Kyndryl Holdings, Inc.(a)
10,788
407,463
Okta, Inc.(a)
6,630
648,414
 
1,320,691
LEISURE PRODUCTS - 0.7%
Brunswick Corp.
1,970
114,831
Mattel, Inc.(a)
17,908
304,615
Polaris, Inc.
1,831
96,878
Topgolf Callaway Brands Corp.(a)
34,895
322,779
YETI Holdings, Inc.(a)
9,698
356,305
 
1,195,408
LIFE SCIENCES TOOLS &
SERVICES - 1.2%
Avantor, Inc.(a)
30,088
404,383
Azenta, Inc.(a)
2,635
86,164
BioLife Solutions, Inc.(a)
1,960
41,669
Bio-Rad Laboratories, Inc., Class A(a)
65
15,727
Bruker Corp.
4,935
189,652
 
Shares
Value
Cytek Biosciences, Inc.(a)
3,965
$14,274
Fortrea Holdings, Inc.(a)
4,120
23,649
Illumina, Inc.(a)
7,187
738,177
Medpace Holdings, Inc.(a)
949
405,413
Repligen Corp.(a)
2,545
297,943
Sotera Health Co.(a)
6,430
73,881
 
2,290,932
MACHINERY - 5.3%
AGCO Corp.
2,559
301,885
Albany International Corp., Class A
1,241
67,250
Astec Industries, Inc.
725
28,754
Chart Industries, Inc.(a)
1,882
374,198
CNH Industrial N.V.
66,155
857,369
Crane Co.
2,625
513,896
Donaldson Co., Inc.
5,434
391,085
Enerpac Tool Group Corp.
2,818
108,521
Enpro, Inc.
467
99,196
Esab Corp.
2,878
386,141
ESCO Technologies, Inc.
1,369
265,175
Federal Signal Corp.
2,879
364,395
Flowserve Corp.
6,196
347,224
Franklin Electric Co., Inc.
1,851
173,902
Gates Industrial Corp. PLC(a)
1,479
36,679
Graco, Inc.
7,682
645,134
Greenbrier Cos., Inc. (The)
819
37,265
Hillenbrand, Inc.
3,375
69,896
ITT, Inc.
4,171
708,903
JBT Marel Corp.
1,428
196,778
Kadant, Inc.
36
11,980
Kennametal, Inc.
3,900
96,564
Lincoln Electric Holdings, Inc.
2,004
487,974
Lindsay Corp.
31
4,232
Middleby Corp. (The)(a)
2,220
322,344
Mueller Industries, Inc.
5,305
452,888
Oshkosh Corp.
2,317
293,170
Proto Labs, Inc.(a)
977
42,128
RBC Bearings, Inc.(a)
1,160
449,314
SPX Technologies, Inc.(a)
2,531
461,629
Tennant Co.
415
34,254
Terex Corp.
3,021
153,648
Timken Co. (The)
2,949
224,389
Titan International, Inc.(a)
3,580
30,287
Toro Co. (The)
5,073
376,670
Trinity Industries, Inc.
3,984
92,827
See Notes to Schedule of Investments.
44
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED SMALL-MID CAP FUND
 
Shares
Value
Watts Water Technologies, Inc., Class A
643
$168,672
Worthington Enterprises, Inc.
1,610
99,772
 
9,776,388
MARINE TRANSPORTATION - 0.2%
Kirby Corp.(a)
2,197
209,396
Matson, Inc.
1,194
127,495
 
336,891
MEDIA - 0.8%
Cable One, Inc.
1,607
205,664
DoubleVerify Holdings, Inc.(a)
7,169
109,829
EchoStar Corp., Class A(a)
5,304
172,857
John Wiley & Sons, Inc., Class A
1,876
72,414
New York Times Co. (The), Class A
7,728
401,006
Scholastic Corp.
940
23,190
TechTarget, Inc.(a)
1,596
11,555
TEGNA, Inc.
27,820
464,594
Thryv Holdings, Inc.(a)
2,106
27,715
 
1,488,824
METALS & MINING - 1.7%
Alcoa Corp.
10,874
325,894
Carpenter Technology Corp.
2,376
592,551
Century Aluminum Co.(a)
3,330
70,529
Cleveland-Cliffs, Inc.(a)
22,988
241,834
Commercial Metals Co.
5,259
272,732
Kaiser Aluminum Corp.
41
3,170
Materion Corp.
360
37,908
Metallus, Inc.(a)
2,495
39,421
MP Materials Corp.(a)
6,319
388,618
Reliance, Inc.
1,567
454,634
Royal Gold, Inc.
2,944
445,780
SunCoke Energy, Inc.
6,340
46,853
Warrior Met Coal, Inc.
2,532
130,094
Worthington Steel, Inc.
1,610
49,137
 
3,099,155
MORTGAGE REAL ESTATE
INVESTMENT TRUSTS - 0.6%
Annaly Capital Management, Inc.
24,528
498,654
Apollo Commercial Real Estate Finance,
Inc.
9,200
88,504
Arbor Realty Trust, Inc.
4,855
54,182
ARMOUR Residential REIT, Inc.
716
11,678
Blackstone Mortgage Trust, Inc., Class A
4,060
75,029
Ellington Financial, Inc.
2,800
35,532
Franklin BSP Realty Trust, Inc.
3,716
37,532
KKR Real Estate Finance Trust, Inc.
3,250
29,380
New York Mortgage Trust, Inc.
5,642
35,714
Pennymac Mortgage Investment Trust
5,780
68,146
Ready Capital Corp.
4,730
19,913
 
Shares
Value
Redwood Trust, Inc.
7,420
$40,513
Starwood Property Trust, Inc.
6,902
134,313
Two Harbors Investment Corp.
4,867
47,453
 
1,176,543
MULTI-UTILITIES - 0.3%
Avista Corp.
3,990
148,827
Black Hills Corp.
2,989
172,705
Northwestern Energy Group, Inc.
2,762
148,319
Unitil Corp.
680
35,074
 
504,925
OFFICE REAL ESTATE
INVESTMENT TRUSTS - 0.8%
Brandywine Realty Trust
27,490
109,960
COPT Defense Properties
6,968
190,087
Cousins Properties, Inc.
2,430
65,853
Douglas Emmett, Inc.
10,483
158,922
Easterly Government Properties, Inc.
2,016
44,352
Highwoods Properties, Inc.
5,737
166,430
JBG Smith Properties
5,783
122,484
Kilroy Realty Corp.
5,332
196,538
SL Green Realty Corp.
3,153
180,509
Vornado Realty Trust
7,725
296,795
 
1,531,930
OIL, GAS & CONSUMABLE FUELS -
2.8%
Antero Midstream Corp.
17,502
321,162
Antero Resources Corp.(a)
13,824
482,872
California Resources Corp.
3,056
147,238
Chord Energy Corp.
153
16,880
Civitas Resources, Inc.
5,196
157,751
CNX Resources Corp.(a)
7,616
230,841
Comstock Resources, Inc.(a)
5,170
92,388
Core Natural Resources, Inc.
2,389
176,332
CVR Energy, Inc.
1,679
44,964
Dorian LPG Ltd.
1,830
52,686
DT Midstream, Inc.
5,970
613,298
Expand Energy Corp.
1
105
HF Sinclair Corp.
6,896
303,010
Magnolia Oil & Gas Corp., Class A
4,800
114,336
Matador Resources Co.
5,870
292,796
Murphy Oil Corp.
7,254
179,972
Northern Oil & Gas, Inc.
3,706
104,361
Ovintiv, Inc.
11,536
475,052
Par Pacific Holdings, Inc.(a)
2,874
90,186
PBF Energy, Inc., Class A
4,947
111,802
Peabody Energy Corp.
5,250
84,787
Permian Resources Corp.
20,963
296,836
See Notes to Schedule of Investments.
45
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED SMALL-MID CAP FUND
 
Shares
Value
Range Resources Corp.
11,315
$415,487
REX American Resources Corp.(a)
830
43,392
SM Energy Co.
5,596
154,394
Talos Energy, Inc.(a)
4,529
38,723
Viper Energy, Inc.
929
34,986
Vital Energy, Inc.(a)
997
18,634
World Kinect Corp.
3,267
89,091
 
5,184,362
PAPER & FOREST PRODUCTS - 0.2%
Louisiana-Pacific Corp.
3,244
293,290
Sylvamo Corp.
1,659
76,430
 
369,720
PASSENGER AIRLINES - 0.4%
Alaska Air Group, Inc.(a)
5,615
297,370
Allegiant Travel Co.(a)
603
31,139
JetBlue Airways Corp.(a)
20,350
90,354
SkyWest, Inc.(a)
1,884
218,469
Sun Country Airlines Holdings, Inc.(a)
2,350
27,236
 
664,568
PERSONAL CARE PRODUCTS - 0.5%
BellRing Brands, Inc.(a)
6,423
350,567
Coty, Inc., Class A(a)
19,814
96,098
Edgewell Personal Care Co.
2,672
67,415
elf Beauty, Inc.(a)
2,674
324,062
Interparfums, Inc.
1,051
126,751
USANA Health Sciences, Inc.(a)
426
12,520
 
977,413
PHARMACEUTICALS - 0.7%
Amphastar Pharmaceuticals, Inc.(a)
2,141
44,854
Collegium Pharmaceutical, Inc.(a)
1,804
53,867
Harmony Biosciences Holdings, Inc.(a)
1,869
65,751
Innoviva, Inc.(a)
4,480
81,402
Jazz Pharmaceuticals PLC(a)
2,776
318,213
Ligand Pharmaceuticals, Inc.(a)
980
128,948
Organon & Co.
10,378
100,667
Pacira BioSciences, Inc.(a)
2,555
53,885
Perrigo Co. PLC
6,447
171,942
Phibro Animal Health Corp., Class A
1,400
37,100
Prestige Consumer Healthcare, Inc.(a)
2,455
181,547
Supernus Pharmaceuticals, Inc.(a)
2,842
99,754
 
1,337,930
PROFESSIONAL SERVICES - 2.1%
CACI International, Inc., Class A(a)
572
263,446
Concentrix Corp.
1,862
96,768
CSG Systems International, Inc.
1,408
87,944
ExlService Holdings, Inc.(a)
14,106
612,623
 
Shares
Value
Exponent, Inc.
2,707
$186,675
FTI Consulting, Inc.(a)
327
54,396
Genpact Ltd.
8,292
365,263
Heidrick & Struggles International, Inc.
1,020
45,421
Insperity, Inc.
1,898
113,083
KBR, Inc.
9,903
462,866
Korn Ferry
2,409
170,726
ManpowerGroup, Inc.
1,807
74,539
Maximus, Inc.
3,001
221,654
NV5 Global, Inc.(a)
2,236
50,198
Paylocity Holding Corp.(a)
1,909
352,936
Robert Half, Inc.
9,342
344,813
Science Applications International Corp.
1,354
150,944
Verra Mobility Corp.(a)
6,277
158,557
 
3,812,852
REAL ESTATE MANAGEMENT &
DEVELOPMENT - 0.7%
Cushman & Wakefield PLC(a)
30,764
375,013
eXp World Holdings, Inc.
4,815
51,906
Jones Lang LaSalle, Inc.(a)
2,728
737,542
Kennedy-Wilson Holdings, Inc.
1,256
9,194
Marcus & Millichap, Inc.
1,616
50,354
St Joe Co. (The)
2,104
106,252
 
1,330,261
RESIDENTIAL REAL ESTATE
INVESTMENT TRUSTS - 0.8%
American Homes 4 Rent, Class A
14,762
512,094
Centerspace
121
6,586
Elme Communities
5,140
77,511
Equity LifeStyle Properties, Inc.
10,071
603,454
Independence Realty Trust, Inc.
12,600
211,302
NexPoint Residential Trust, Inc.
1,400
43,652
Veris Residential, Inc.
4,646
65,416
 
1,520,015
RETAIL REAL ESTATE
INVESTMENT TRUSTS - 1.3%
Acadia Realty Trust
5,897
110,392
Agree Realty Corp.
6,056
434,215
Brixmor Property Group, Inc.
17,367
453,800
Getty Realty Corp.
2,470
68,641
Kite Realty Group Trust
12,405
272,662
Macerich Co. (The)
11,856
198,114
NNN REIT, Inc.
9,364
386,359
Phillips Edison & Co., Inc.
4,066
137,390
Saul Centers, Inc.
865
27,870
SITE Centers Corp.
2,782
29,962
See Notes to Schedule of Investments.
46
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED SMALL-MID CAP FUND
 
Shares
Value
Tanger, Inc.
5,720
$171,714
Urban Edge Properties
6,590
129,955
Whitestone REIT
1,040
12,678
 
2,433,752
SEMICONDUCTORS &
SEMICONDUCTOR EQUIPMENT -
2.6%
Allegro MicroSystems, Inc.(a)
3,598
113,013
Alpha & Omega Semiconductor Ltd.(a)
1,300
33,111
Amkor Technology, Inc.
4,859
109,619
Axcelis Technologies, Inc.(a)
1,637
110,809
CEVA, Inc.(a)
1,008
21,541
Cirrus Logic, Inc.(a)
2,480
249,761
Cohu, Inc.(a)
2,700
48,222
Diodes, Inc.(a)
1,913
94,445
Entegris, Inc.
5,048
396,066
FormFactor, Inc.(a)
3,495
99,293
Ichor Holdings Ltd.(a)
1,667
32,990
Impinj, Inc.(a)
1,175
181,631
Kulicke & Soffa Industries, Inc.
2,771
90,778
Lattice Semiconductor Corp.(a)
6,289
313,381
MACOM Technology Solutions
Holdings, Inc.(a)
2,836
388,929
MaxLinear, Inc.(a)
3,734
59,072
MKS, Inc.
3,125
297,437
Onto Innovation, Inc.(a)
2,546
241,233
PDF Solutions, Inc.(a)
1,850
41,126
Photronics, Inc.(a)
3,154
64,215
Power Integrations, Inc.
2,417
117,273
Qorvo, Inc.(a)
2,006
167,702
Rambus, Inc.(a)
5,023
371,350
Semtech Corp.(a)
2,918
149,110
Silicon Laboratories, Inc.(a)
1,391
183,292
SiTime Corp.(a)
910
184,593
SolarEdge Technologies, Inc.(a)
2,568
65,895
Synaptics, Inc.(a)
1,465
91,856
Ultra Clean Holdings, Inc.(a)
2,260
50,895
Universal Display Corp.
1,974
285,046
Veeco Instruments, Inc.(a)
2,824
58,683
 
4,712,367
SOFTWARE - 3.9%
A10 Networks, Inc.
3,800
69,996
ACI Worldwide, Inc.(a)
5,210
221,738
Adeia, Inc.
6,255
81,002
Alarm.com Holdings, Inc.(a)
2,428
132,642
Appfolio, Inc., Class A(a)
887
237,166
BILL Holdings, Inc.(a)
3,476
148,947
Blackbaud, Inc.(a)
1,975
133,154
 
Shares
Value
BlackLine, Inc.(a)
2,414
$129,825
Box, Inc., Class A(a)
6,011
192,953
Cleanspark, Inc.(a)
1,035
11,768
Commvault Systems, Inc.(a)
2,837
538,888
DocuSign, Inc.(a)
7,629
577,057
Dolby Laboratories, Inc., Class A
3,301
248,697
Dropbox, Inc., Class A(a)
11,416
310,173
Dynatrace, Inc.(a)
16,146
849,441
Guidewire Software, Inc.(a)
4,374
989,486
InterDigital, Inc.
1,754
452,883
LiveRamp Holdings, Inc.(a)
3,270
107,321
Manhattan Associates, Inc.(a)
2,730
599,672
MARA Holdings, Inc.(a)
12,895
207,352
N-able, Inc.(a)
4,301
34,752
NCR Voyix Corp.(a)
7,319
99,685
Pegasystems, Inc.
813
47,731
Progress Software Corp.
2,297
110,440
Qualys, Inc.(a)
1,669
222,094
Sprinklr, Inc., Class A(a)
3,770
33,968
SPS Commerce, Inc.(a)
1,848
201,182
Teradata Corp.(a)
4,697
98,308
 
7,088,321
SPECIALIZED REAL ESTATE
INVESTMENT TRUSTS - 1.1%
CubeSmart
10,861
422,601
EPR Properties
3,217
177,064
Four Corners Property Trust, Inc.
5,596
141,243
Lamar Advertising Co., Class A
4,287
524,086
National Storage Affiliates Trust
3,900
114,894
Outfront Media, Inc.
8,533
149,583
PotlatchDeltic Corp.
3,888
158,980
Rayonier, Inc.
7,686
179,161
Safehold, Inc.
2,623
36,696
Uniti Group, Inc.(a)
28,881
153,647
 
2,057,955
SPECIALTY RETAIL - 3.7%
Abercrombie & Fitch Co., Class A(a)
2,151
206,539
Academy Sports & Outdoors, Inc.
4,850
246,332
Advance Auto Parts, Inc.
2,992
158,786
American Eagle Outfitters, Inc.
9,494
102,535
Asbury Automotive Group, Inc.(a)
40
8,885
AutoNation, Inc.(a)
2,070
398,765
Bath & Body Works, Inc.
15,726
455,425
Boot Barn Holdings, Inc.(a)
1,349
231,893
Buckle, Inc. (The)
1,441
71,142
Burlington Stores, Inc.(a)
1,833
500,336
Caleres, Inc.
1,417
19,455
See Notes to Schedule of Investments.
47
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED SMALL-MID CAP FUND
 
Shares
Value
Chewy, Inc., Class A(a)
5,869
$215,392
Dick's Sporting Goods, Inc.
1,911
404,196
Five Below, Inc.(a)
2,209
301,573
Floor & Decor Holdings, Inc.(a)
5,527
423,589
Foot Locker, Inc.(a)
5,696
142,628
GameStop Corp., Class A(a)
15,466
347,212
Gap, Inc. (The)
10,240
199,270
Group 1 Automotive, Inc.
998
411,326
Guess?, Inc.
1,790
23,270
Lithia Motors, Inc.
1,772
510,336
MarineMax, Inc.(a)
752
17,055
Monro, Inc.
835
11,769
National Vision Holdings, Inc.(a)
7,128
172,925
Penske Automotive Group, Inc.
211
35,324
RH(a)
99
20,356
Sally Beauty Holdings, Inc.(a)
6,182
60,213
Shoe Carnival, Inc.
874
17,882
Signet Jewelers Ltd.
4,261
337,045
Sonic Automotive, Inc., Class A
564
40,805
Upbound Group, Inc.
2,355
48,596
Urban Outfitters, Inc.(a)
2,780
209,278
Valvoline, Inc.(a)
12,776
450,354
Victoria's Secret & Co.(a)
3,394
63,807
 
6,864,294
TECHNOLOGY HARDWARE,
STORAGE & PERIPHERALS -
0.6%
Corsair Gaming, Inc.(a)
2,360
21,381
Pure Storage, Inc., Class A(a)
15,702
934,583
Sandisk Corp.(a)
3,687
158,246
Xerox Holdings Corp.
4,997
20,238
 
1,134,448
TEXTILES, APPAREL & LUXURY
GOODS - 1.0%
Capri Holdings Ltd.(a)
5,083
92,460
Carter's, Inc.
9,147
221,723
Columbia Sportswear Co.
439
24,834
Crocs, Inc.(a)
2,244
223,794
G-III Apparel Group Ltd.(a)
1,549
36,556
Hanesbrands, Inc.(a)
19,557
79,988
Kontoor Brands, Inc.
2,431
135,310
PVH Corp.
142
10,426
Skechers USA, Inc., Class A(a)
6,153
389,177
Steven Madden Ltd.
3,687
88,507
Under Armour, Inc., Class A(a)
13,750
91,300
 
Shares
Value
Under Armour, Inc., Class C(a)
6,490
$40,887
VF Corp.
31,297
366,801
Wolverine World Wide, Inc.
4,373
98,742
 
1,900,505
TRADING COMPANIES &
DISTRIBUTORS - 1.7%
Air Lease Corp.
4,321
239,384
Applied Industrial Technologies, Inc.
1,698
461,007
Boise Cascade Co.
1,979
165,860
Core & Main, Inc., Class A(a)
8,378
533,176
DNOW, Inc.(a)
5,170
80,445
DXP Enterprises, Inc.(a)
569
64,445
GATX Corp.
128
19,544
GMS, Inc.(a)
1,860
203,931
MSC Industrial Direct Co., Inc., Class A
1,921
166,397
Rush Enterprises, Inc., Class A
2,267
122,735
Watsco, Inc.
1,151
518,963
WESCO International, Inc.
2,793
578,039
 
3,153,926
WATER UTILITIES - 0.5%
American States Water Co.
2,280
167,785
California Water Service Group
2,900
131,863
Essential Utilities, Inc.
12,921
475,493
H2O America
1,328
64,129
Middlesex Water Co.
615
31,734
 
871,004
WIRELESS TELECOMMUNICATION
SERVICES - 0.1%
Gogo, Inc.(a)
3,880
61,537
Telephone and Data Systems, Inc.
4,938
192,779
 
254,316
TOTAL COMMON STOCKS
(COST $168,911,075)
183,064,230
RIGHTS - 0.0%
 
BIOTECHNOLOGY - 0.0%
Omniab, Inc.(a)(b)(c)
367
—
Omniab, Inc. (NASDAQ
Exchange)(a)(b)(c)
367
—
TOTAL RIGHTS
(COST $—)
—
See Notes to Schedule of Investments.
48
STEWARD FUNDS
SCHEDULE OF INVESTMENTS — July 31, 2025 (Unaudited)
STEWARD VALUES ENHANCED SMALL-MID CAP FUND
 
Shares
Value

MONEY MARKET FUND - 0.1%
Northern Institutional Treasury Portfolio
(Premier Class), 4.15%(d)
153,840
$153,840
TOTAL MONEY MARKET FUND
(COST $153,840)
153,840
 
TOTAL INVESTMENTS
(COST $169,064,915) - 99.6%
183,218,070
 
OTHER ASSETS IN EXCESS OF
LIABILITIES - 0.4%
649,723
NET ASSETS - 100.0%
$183,867,793
 
 
(a)
Non-income producing security.
 
(b)
Security is a Level 3 investment and was valued using significant
unobservable inputs as of period end.
 
(c)
Amounts denoted as ‘‘—’’ are less than $0.50.
 
(d)
7-day current yield as of July 31, 2025.
 
N.V. — Naamloze Vennootschap
NASDAQ — National Association of Securities Dealers Automated
Quotation
PLC — Public Limited Company
REIT — Real Estate Investment Trust
See Notes to Schedule of Investments.
49
STEWARD FUNDS
NOTES TO SCHEDULES OF INVESTMENTS — July 31, 2025 (Unaudited)
Note 1 — Additional Valuation Information:
Accounting principals generally accepted in the United States of America (‘‘GAAP’’) establishes a fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Funds. Unobservable inputs reflect the Funds’ assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.
The fair value hierarchy is categorized into three levels based on the inputs as follows:
Level 1 — Quoted prices in active markets for identical securities and net asset values for money market funds.
Level 2 — Other significant observable inputs other than Level 1 quoted prices (including, but not limited to, quoted prices for similar securities, interest rates, prepayment speeds and credit risks).
Level 3 — Significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments).
Pursuant to the Adviser's valuation procedures, equity securities and written options contracts are generally categorized as Level 1 securities in the fair value hierarchy (unless there is a fair valuation event, in which case affected securities are generally categorized as Level 2). Debt securities are generally categorized as Level 2 securities in the fair value hierarchy. Money market funds are generally categorized as Level 1 securities in the fair value hierarchy. Changes in valuation techniques may result in transfers in or out of an assigned level within the fair value hierarchy.
The following table presents a summary of inputs used to value the Funds’ investments as of July 31, 2025: 
 
Investments in Securities
Fund
LEVEL 1
LEVEL 2
LEVEL 3
Total
Steward Covered Call Income Fund
 
 
 
 
Assets:
 
 
 
 
Security Type
Common Stocks*
$105,007,644
$—
$—
$105,007,644
Money Market Fund
1,282,849
—
—
1,282,849
Total Assets - Investments
$106,290,493
$
 —
$
 —
$106,290,493
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
Other Financial Instruments
Written Call Options
$(4,238,401
)
$—
$—
$(4,238,401
)
Total Liabilities - Other Financial
Instruments
$(4,238,401
)
$
 —
$
 —
$(4,238,401
)
 
 
 
 
 
 
 
 
Steward Equity Market Neutral Fund
 
 
 
 
Assets:
 
 
 
 
Security Type
Common Stocks*
$101,034,553
$—
$—
$101,034,553
Money Market Fund
9,180,349
—
—
9,180,349
Total Assets - Investments
$110,214,902
$
 —
$
 —
$110,214,902
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
Security Type
Common Stocks Sold Short*
$(106,451,017
)
$—
$—
$(106,451,017
)
Total Liabilities - Securities Sold Short
$(106,451,017
)
$
 —
$
 —
$(106,451,017
)
50
 
 
Investments in Securities
Fund
LEVEL 1
LEVEL 2
LEVEL 3
Total
Steward Global Equity Income Fund
 
 
 
 
Assets:
 
 
 
 
Security Type
Common Stocks*
$414,011,108
$—
$—
$414,011,108
Preferred Stocks*
3,996,659
—
—
3,996,659
Money Market Fund
4,088,511
—
—
4,088,511
Total Assets - Investments
$422,096,278
$
 —
$
 —
$422,096,278
 
 
 
 
 
 
 
 
Steward Large Cap Core Fund
 
 
 
 
Assets:
 
 
 
 
Security Type
Common Stocks*
$174,574,381
$—
$—
$174,574,381
Money Market Fund
258,520
—
—
258,520
Total Assets - Investments
$174,832,901
$
 —
$
 —
$174,832,901
 
 
 
 
 
 
 
 
Steward Large Cap Growth Fund
 
 
 
 
Assets:
 
 
 
 
Security Type
Common Stocks*
$210,226,495
$—
$—
$210,226,495
Money Market Fund
254,925
—
—
254,925
Total Assets - Investments
$210,481,420
$
 —
$
 —
$210,481,420
 
 
 
 
 
 
 
 
Steward Large Cap Value Fund
 
 
 
 
Assets:
 
 
 
 
Security Type
Common Stocks*
$92,298,519
$—
$—
$92,298,519
Money Market Fund
145,670
—
—
145,670
Total Assets - Investments
$92,444,189
$
 —
$
 —
$92,444,189
 
 
 
 
 
 
 
 
Steward Select Bond Fund
 
 
 
 
Assets:
 
 
 
 
Security Type
Corporate Bonds*
$—
$117,929,925
$—
$117,929,925
Municipal Bonds
—
4,946,922
—
4,946,922
U.S. Government Agencies
—
14,231,364
—
14,231,364
U.S. Government Agency Mortgage-Backed
Obligations
—
2,781,899
—
2,781,899
U.S. Treasury Obligations
—
46,557,052
—
46,557,052
Money Market Fund
3,502,555
—
—
3,502,555
Total Assets - Investments
$3,502,555
$186,447,162
$
 —
$189,949,717
 
 
 
 
 
 
 
 
Steward Values Enhanced International Fund
 
 
 
 
Assets:
 
 
 
 
Security Type
Common Stocks*
$239,596,212
$—
$—
$239,596,212
Preferred Stocks*
3,050,429
—
—
3,050,429
Money Market Fund
1,572,944
—
—
1,572,944
Total Assets - Investments
$244,219,585
$
 —
$
 —
$244,219,585
51
 
 
Investments in Securities
Fund
LEVEL 1
LEVEL 2
LEVEL 3
Total
Steward Values Enhanced Large Cap Fund
 
 
 
 
Assets:
 
 
 
 
Security Type
Common Stocks*
$287,975,545
$—
$—
$287,975,545
Rights*
—
—
—
**
—
Money Market Fund
513,530
—
—
513,530
Total Assets - Investments
$288,489,075
$
 —
$
 —
$288,489,075
 
 
 
 
 
 
 
 
Steward Values Enhanced
Small-Mid Cap Fund
 
 
 
 
Assets:
 
 
 
 
Security Type
Common Stocks*
$183,064,230
$—
$—
$183,064,230
Rights*
—
—
—
**
—
Money Market Fund
153,840
—
—
153,840
Total Assets - Investments
$183,218,070
$
 —
$
 —
$183,218,070
 
*
Please refer to the Schedule of Investments to view common stocks, corporate bonds, preferred stocks, and rights segregated by industry type.
**
Level 3 security has zero value.
For additional information regarding the Funds’ valuation of investments and other significant accounting policies, please refer to the most recent Annual or Semi-Annual Financial Statements and Other Information report.
52