NORTH COUNTRY LARGE CAP EQUITY FUND  
SCHEDULE OF INVESTMENTS (Unaudited)  
August 31, 2025  
   
Shares             Fair Value
    COMMON STOCKS — 99.5%        
    ASSET MANAGEMENT - 4.5%        
2,200   Blackrock, Inc.       $ 2,479,708
23,500   KKR & Company, Inc.         3,278,015
             

5,757,723

    AUTOMOTIVE - 1.1%        
4,200   Tesla, Inc.(a)         1,402,254
             
    BANKING - 5.2%        
55,500   Bank of America Corporation         2,816,070
12,500   JPMorgan Chase & Company         3,767,750
             

6,583,820

    BEVERAGES - 0.8%        
7,000   PepsiCo, Inc.         1,040,550
             
    BIOTECH & PHARMA - 2.9%        
4,700   Amgen, Inc.         1,352,237
850   Eli Lilly & Company         622,693
9,500   Johnson & Johnson         1,683,115
             

3,658,045

    CHEMICALS - 1.6%        
2,700   Air Products and Chemicals, Inc.         794,097
1,500   Ecolab, Inc.         415,560
2,150   Sherwin-Williams Company         786,535
             

1,996,192

    COMMERCIAL SUPPORT SERVICES - 1.4%        
8,000   Waste Management, Inc.         1,811,120
             
    CONSTRUCTION MATERIALS - 0.3%        
1,100   Vulcan Materials Company         320,276
             
    DATA CENTER REIT - 1.6%        
12,300   Digital Realty Trust, Inc.         2,061,972
             
                     
 
 

 

NORTH COUNTRY LARGE CAP EQUITY FUND  
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)  
August 31, 2025  
   
Shares             Fair Value
    COMMON STOCKS — 99.5% (Continued)        
    DIVERSIFIED INDUSTRIALS - 1.5%        
9,000   Honeywell International, Inc.       $ 1,975,500
             
    E-COMMERCE DISCRETIONARY - 4.5%        
25,300   Amazon.com, Inc.(a)         5,793,700
             
    ELECTRIC UTILITIES - 1.0%        
5,500   NextEra Energy, Inc.         396,275
9,150   Southern Company         844,545
             

1,240,820

    ELECTRICAL EQUIPMENT - 2.2%        
26,000   Amphenol Corporation, Class A         2,830,360
             
    HEALTH CARE FACILITIES & SERVICES - 0.8%        
3,200   UnitedHealth Group, Inc.         991,584
             
    HOME CONSTRUCTION - 1.6%        
27,500   Masco Corporation         2,018,225
             
    HOUSEHOLD PRODUCTS - 1.5%        
12,125   Procter & Gamble Company         1,904,110
             
    INSTITUTIONAL FINANCIAL SERVICES - 4.4%        
2,600   Goldman Sachs Group, Inc.         1,937,650
11,350   Intercontinental Exchange, Inc.         2,004,410
11,300   Morgan Stanley         1,700,424
             

5,642,484

    INSURANCE - 2.0%        
5,100   Berkshire Hathaway, Inc., Class B(a)         2,565,198
             
    INTERNET MEDIA & SERVICES - 9.4%        
27,800   Alphabet, Inc., Class A         5,918,898
5,500   Meta Platforms, Inc., Class A         4,062,850
1,700   Netflix, Inc.(a)         2,054,025
             

12,035,773

                     
 
 

 

NORTH COUNTRY LARGE CAP EQUITY FUND  
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)  
August 31, 2025  
   
Shares             Fair Value
    COMMON STOCKS — 99.5% (Continued)        
    LEISURE FACILITIES & SERVICES - 0.6%        
2,600   McDonald's Corporation       $ 815,204
             
    MACHINERY - 3.0%        
6,300   Caterpillar, Inc.         2,639,952
14,300   Ingersoll Rand, Inc.         1,135,849
             

3,775,801

    MEDICAL EQUIPMENT & DEVICES - 4.5%        
13,000   Abbott Laboratories         1,724,580
3,800   Danaher Corporation         782,116
4,300   Stryker Corporation         1,683,063
3,100   Thermo Fisher Scientific, Inc.         1,527,432
             

5,717,191

    OIL & GAS PRODUCERS - 3.1%        
6,600   Chevron Corporation         1,059,960
8,200   Exxon Mobil Corporation         937,178
34,400   Williams Companies, Inc.         1,991,072
             

3,988,210

    RETAIL - CONSUMER STAPLES - 3.2%        
1,400   Costco Wholesale Corporation         1,320,648
28,200   Walmart, Inc.         2,734,836
             

4,055,484

    RETAIL - DISCRETIONARY - 3.6%        
7,800   Home Depot, Inc.         3,172,806
10,600   TJX Companies, Inc.         1,448,066
             

4,620,872

    SEMICONDUCTORS - 9.0%        
66,000   NVIDIA Corporation         11,495,880
             
    SOFTWARE - 14.1%        
4,400   Adobe, Inc.(a)         1,569,480
20,350   Microsoft Corporation         10,311,141
11,000   Oracle Corporation         2,487,430
3,200   Palo Alto Networks, Inc.(a)         609,664
                     
 
 

 

NORTH COUNTRY LARGE CAP EQUITY FUND  
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)  
August 31, 2025  
   
Shares             Fair Value
    COMMON STOCKS — 99.5% (Continued)        
    SOFTWARE - 14.1% (Continued)        
11,900   Salesforce, Inc.       $ 3,049,375
             

18,027,090

    SPECIALTY FINANCE - 1.2%        
6,800   Capital One Financial Corporation         1,545,096
             
    TECHNOLOGY HARDWARE - 7.3%        
40,200   Apple, Inc.         9,332,028
             
    TECHNOLOGY SERVICES - 1.6%        
5,700   Visa, Inc., Class A         2,005,146
             
               
               
  TOTAL COMMON STOCKS (Cost $30,627,850)         127,007,708
               
    SHORT-TERM INVESTMENTS — 0.3%        
    MONEY MARKET FUND - 0.3%        
323,018  

BlackRock Liquidity Funds Treasury Trust Fund, Institutional Class, 4.15%

(Cost $323,018)(b)

   323,018
             
    TOTAL INVESTMENTS - 99.8% (Cost $30,950,868)

$ 127,330,726

    OTHER ASSETS IN EXCESS OF LIABILITIES- 0.2%

312,159

    NET ASSETS - 100.0%        

$ 127,642,885

           
OPEN FUTURES CONTRACTS        
Number of Contracts   Open Long Futures Contracts     Expiration Notional Amount Unrealized Appreciation
30   CBOT 10 Year US Treasury Note   12/22/2025 $ 3,375,000 $ 7,968
6   CME E-Mini NASDAQ 100 Index Futures   09/22/2025   2,815,410   17,120
2   CME E-Mini Standard & Poor's 500 Index Futures   09/22/2025   647,275   38,365
  TOTAL FUTURES CONTRACTS     $ 63,453
           
             
               
   
                     

 

 

 

REIT  - Real Estate Investment Trust
   
 
 
 

 

 

(a) Non-income producing security.
(b) Rate disclosed is the seven-day effective yield as of August 31, 2025.