PLUMB BALANCED FUND
SCHEDULE OF INVESTMENTS (Unaudited)
June 30, 2026
 
Shares             Fair Value
    COMMON STOCKS — 68.8%      
    AEROSPACE & DEFENSE - 6.1%      
20,000   AAR Corporation(a)       $ 2,858,600
2,875   Honeywell Aerospace Inc.(a)         635,605
18,000   Park Aerospace Corporation         686,880
             

4,181,085

    AUTOMOBILE COMPONENTS - 4.3%      
11,000   Modine Manufacturing Company(a)         2,937,220
             
    BANKS - 2.4%      
5,000   JPMorgan Chase & Company         1,636,650
             
    BROADLINE RETAIL - 4.7%      
9,000   Amazon.com, Inc.(a)         2,145,060
600   MercadoLibre, Inc.(a)         1,018,434
             

3,163,494

    COMMERCIAL SERVICES & SUPPLIES - 3.7%      
11,000   VSE Corporation         2,513,500
             
    CONSTRUCTION & ENGINEERING - 1.4%      
1,300   Quanta Services, Inc.         936,052
             
    CONSUMER FINANCE - 2.7%      
5,450   American Express Company         1,843,463
             
    ELECTRICAL EQUIPMENT - 0.9%      
500   GE Vernova, Inc.         587,430
             
    FINANCIAL SERVICES - 7.0%      
4,100   Mastercard, Inc., Class A         2,105,760
20,000   Toast, Inc., Class A(a)         556,400
6,000   Visa, Inc., Class A         2,058,540
             

4,720,700

    HEALTH CARE EQUIPMENT & SUPPLIES - 2.7%      
2,350   Intuitive Surgical, Inc.(a)         934,548
 
 

 

PLUMB BALANCED FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2026
 
Shares             Fair Value
    COMMON STOCKS — 68.8% (Continued)      
    HEALTH CARE EQUIPMENT & SUPPLIES - 2.7% (Continued)      
2,850   Stryker Corporation       $ 897,294
             

1,831,842

    INDUSTRIAL CONGLOMERATES - 1.0%      
2,875   Honeywell International, Inc.         643,713
             
    INTERACTIVE MEDIA & SERVICES - 4.4%      
8,250   Alphabet, Inc., Class A         2,948,303
             
    OIL, GAS & CONSUMABLE FUELS - 5.2%      
9,000   Exxon Mobil Corporation         1,230,480
30,000   Kinder Morgan, Inc.         959,100
8,000   Phillips 66         1,352,400
             

3,541,980

    PHARMACEUTICALS - 1.4%      
800   Eli Lilly & Company         959,544
             
    SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 15.4%      
6,200   Advanced Micro Devices, Inc.(a)         3,601,642
22,000   NVIDIA Corporation         4,401,979
5,000   Taiwan Semiconductor Manufacturing Company Ltd. - ADR         2,387,850
             

10,391,471

    SOFTWARE - 2.9%      
5,200   Microsoft Corporation         1,939,704
             
    TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS - 2.6%      
6,000   Apple, Inc.         1,736,160
             
               
    TOTAL COMMON STOCKS (Cost $17,609,462)    

  46,512,311

               
Principal Amount ($)       Spread Coupon Rate (%) Maturity Fair Value
    CORPORATE BONDS — 29.6%      
    AEROSPACE & DEFENSE — 1.3%      
1,000,000   Boeing Company (The)   2.9500 02/01/30   941,654
 
 

 

PLUMB BALANCED FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2026
 
Principal Amount ($)       Spread Coupon Rate (%) Maturity Fair Value
    CORPORATE BONDS — 29.6% (Continued)      
    BANKING — 10.7%      
1,000,000   Amalgamated Financial Corporation(b) TSFR3M + 2.300% 3.2500 11/15/31 $ 983,663
1,200,000   Banc of California, Inc.(b) TSFR3M + 4.195% 7.8590 10/30/30   1,195,671
500,000   Flagstar Bancorp, Inc.(b) TSFR3M + 3.910% 7.5730 11/01/30   477,039
500,000   JPMorgan Chase & Company   5.0000 01/31/34   489,018
1,000,000   JPMorgan Chase & Company   5.0000 12/13/34   981,316
1,575,000   Pinnacle Financial Partners, Inc.(b) TSFR3M + 3.037% 6.7010 09/15/29   1,572,723
500,000   US Bancorp   5.4500 07/30/35   498,860
275,000   Wells Fargo & Company(b) SOFRRATE + 1.380% 5.2110 12/03/35   275,017
750,000   Western Alliance Bancorp(b) TSFR3M + 2.250% 3.0000 06/15/31   729,900
              7,203,207
    ELEC & GAS MARKETING & TRADING — 1.2%      
750,000   Jersey Central Power & Light Company   6.1500 06/01/37   795,908
             
    ELECTRIC UTILITIES — 5.3%      
500,000   AEP Texas, Inc.   5.7000 05/15/34   516,886
500,000   Appalachian Power Company   6.3750 04/01/36   533,000
500,000   Connecticut Light and Power Company (The)   5.7500 09/15/34   512,163
1,000,000   National Grid USA   5.8750 04/01/33   1,029,903
550,000   National Rural Utilities Cooperative Finance   5.8000 01/15/33   578,182
400,000   Public Service Company of Colorado   5.1500 09/15/35   398,214
              3,568,348
    HEALTH CARE FACILITIES & SERVICES — 0.8%      
92,526   CVS Pass-Through Trust   6.9430 01/10/30   94,908
500,000   HCA, Inc.   3.5000 09/01/30   474,598
              569,506
    HOME CONSTRUCTION — 1.6%      
1,000,000   Masco Corporation   7.7500 08/01/29   1,070,827
             
    INSTITUTIONAL FINANCIAL SERVICES — 4.2%      
500,000   Goldman Sachs Group, Inc. (The)   4.8000 11/29/31   501,204
500,000   Goldman Sachs Group, Inc. (The)   5.0000 05/27/33   504,127
 
 

 

PLUMB BALANCED FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2026
 
Principal Amount ($)       Spread Coupon Rate (%) Maturity Fair Value
    CORPORATE BONDS — 29.6% (Continued)      
    INSTITUTIONAL FINANCIAL SERVICES — 4.2% (Continued)      
500,000   Goldman Sachs Group, Inc. (The)   6.4500 05/01/36 $ 533,047
310,000   Jefferies Financial Group, Inc.(c)   5.2500 11/29/28   305,637
1,000,000   Morgan Stanley Finance, LLC   5.0000 06/28/32   983,239
              2,827,254
    INTERNET MEDIA & SERVICES — 0.5%      
350,000   VeriSign, Inc.   4.7500 07/15/27   350,053
             
    OIL & GAS PRODUCERS — 1.5%      
1,000,000   El Paso Natural Gas Company, LLC   7.5000 11/15/26   1,008,989
             
    REAL ESTATE INVESTMENT TRUSTS — 0.7%      
450,000   Weyerhaeuser Company   6.8750 12/15/33   494,767
             
    SOFTWARE — 1.0%      
750,000   Oracle Corporation   5.2000 09/26/35   703,177
             
    TRANSPORTATION & LOGISTICS — 0.8%      
500,000   Union Pacific Corporation   5.1000 02/20/35   508,203
             
  TOTAL CORPORATE BONDS (Cost $20,152,278)    

20,041,893

             
Principal Amount ($)         Coupon Rate (%) Maturity Fair Value
    MUNICIPAL BONDS — 0.7%      
    STUDENT LOANS — 0.7%      
500,000   Massachusetts Educational Financing Authority   4.5950 07/01/31   496,075
             
  TOTAL MUNICIPAL BONDS (Cost $500,000)    

496,075

             
 
 

 

PLUMB BALANCED FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2026
 
Shares             Fair Value
    SHORT-TERM INVESTMENTS — 0.5%      
    MONEY MARKET FUNDS - 0.5%      
361,776   First American Government Obligations Fund, Class X, 3.56% (Cost $361,776)(d)       $ 361,776
           
    TOTAL INVESTMENTS - 99.6% (Cost $38,623,516)     $ 67,412,055
    OTHER ASSETS IN EXCESS OF LIABILITIES- 0.4%    

258,600

    NET ASSETS - 100.0%        

$ 67,670,655

           
               
 

 

 

 

ADR  - American Depositary Receipt
LLC  - Limited Liability Company
Ltd.  - Limited Company
   
SOFRRATE United States SOFR Secured Overnight Financing Rate
TSFR3M Term SOFR Secured Overnight Financing Rate 3 month
   
 

 

 

 

 

(a) Non-income producing security.
(b) Variable rate security; the rate shown represents the rate on June 30, 2026.
(c) Step bond.  Coupon rate is fixed rate that changes on a specified date.  The rate shown is the current rate at June 30, 2026.
(d) Rate disclosed is the seven day effective yield as of June 30, 2026.