HODGES FUND
SCHEDULE OF INVESTMENTS (Unaudited)
June 30, 2026
 
Shares             Fair Value
    COMMON STOCKS — 95.7%      
    APPAREL & TEXTILE PRODUCTS - 2.8%      
55,000   Gildan Activewear, Inc.       $ 2,838,000
150,000   On Holding A.G.(a)         5,313,000
             

8,151,000

    AUTOMOTIVE - 3.1%      
275,000   Rivian Automotive, Inc., Class A(a)         4,771,250
10,000   Tesla, Inc.(a)         4,206,000
             

8,977,250

    BANKING - 4.3%      
300,000   Banc of California, Inc.         6,129,000
85,000   Triumph Financial, Inc.(a)         6,486,350
             

12,615,350

    COMMERCIAL SUPPORT SERVICES - 3.1%      
300,000   GEO Group, Inc. (The)(a)         8,865,000
             
    CONSTRUCTION MATERIALS - 3.7%      
30,000   Eagle Materials, Inc.         6,750,000
25,000   Owens Corning         3,974,000
             

10,724,000

    E-COMMERCE DISCRETIONARY - 3.4%      
20,000   Amazon.com, Inc.(a)         4,766,800
1,250,000   Stitch Fix, Inc., Class A(a)         5,137,500
             

9,904,300

    ELECTRICAL EQUIPMENT - 2.7%      
27,500   Powell Industries, Inc.         7,874,900
             
    HOME & OFFICE PRODUCTS - 5.2%      
100,000   SharkNinja, Inc.(a)         15,227,000
             
    INTERNET MEDIA & SERVICES - 3.7%      
150,000   Uber Technologies, Inc.(a)         10,824,000
             
    LEISURE FACILITIES & SERVICES - 10.0%      
400,000   DraftKings, Inc.(a)         10,104,000
650,000   First Watch Restaurant Group, Inc.(a)         8,378,500
 
 

 

HODGES FUND
SCHEDULE OF INVESTMENTS (Unaudited)(Continued)
June 30, 2026
 
Shares             Fair Value
    COMMON STOCKS — 95.7% (Continued)      
    LEISURE FACILITIES & SERVICES - 10.0% (Continued)      
100,000   Viking Holdings Ltd.(a)       $ 10,467,000
             

28,949,500

    METALS & MINING - 3.6%      
165,000   Freeport-McMoRan, Inc.         10,376,850
             
    OIL & GAS PRODUCERS - 7.9%      
50,000   Expand Energy Corporation         4,559,500
150,000   Matador Resources Company         7,467,000
25,000   Texas Pacific Land Corporation         10,941,000
             

22,967,500

    SEMICONDUCTORS - 17.1%      
17,500   Applied Materials, Inc.         12,652,500
20,000   Micron Technology, Inc.         23,085,800
35,000   NVIDIA Corporation         7,003,150
15,000   Taiwan Semiconductor Manufacturing Company Ltd. - ADR         7,163,550
             

49,905,000

    SOFTWARE - 6.6%      
125,000   Clear Secure, Inc., Class A         6,966,250
35,000   Palantir Technologies, Inc., Class A(a)         4,083,450
40,000   Twilio, Inc., Class A(a)         8,253,200
             

19,302,900

    STEEL - 3.8%      
12,000   Carpenter Technology Corporation         7,402,080
400,000   Cleveland-Cliffs, Inc.(a)         3,756,000
             

11,158,080

    TECHNOLOGY HARDWARE - 3.6%      
70,000   Vishay Precision Group, Inc.(a)         10,493,700
             
    TECHNOLOGY SERVICES - 5.9%      
700,000   Terawulf, Inc.(a)         17,290,000
             
    TRANSPORTATION & LOGISTICS - 5.2%      
350,000   American Airlines Group, Inc.(a)         6,324,500
15,000   FedEx Corporation         4,696,950
 
 

 

HODGES FUND
SCHEDULE OF INVESTMENTS (Unaudited)(Continued)
June 30, 2026
 
Shares             Fair Value
    COMMON STOCKS — 95.7% (Continued)      
    TRANSPORTATION & LOGISTICS - 5.2% (Continued)      
22,000   Matson, Inc.       $ 4,229,060
             

15,250,510

               
    TOTAL COMMON STOCKS (Cost $137,999,682)    

  278,856,840

               
    SHORT-TERM INVESTMENT — 1.7%      
    MONEY MARKET FUND - 1.7%      
4,908,236   First American Treasury Obligations Fund, Class X, 3.58% (Cost $4,908,236)(b)         4,908,236
             
Contracts(c)              
    EQUITY OPTIONS PURCHASED – 3.0% Broker/Counterparty Expiration Date Exercise Price Notional Value  
    CALL OPTIONS PURCHASED – 3.0%      
500   Apple, Inc. WFC 10/16/2026 250 14,468,000 2,325,000
250   Marvell Technology, Inc. WFC 09/18/2026   100   7,444,250   4,990,000
200   Tyler Technologies, Inc. WFC 12/18/2026   250   5,849,200   1,336,000
    TOTAL CALL OPTIONS PURCHASED (Cost - $6,139,349)  

8,651,000

         
    TOTAL INVESTMENTS - 100.4% (Cost $149,047,267)     $ 292,416,076
    CALL OPTIONS WRITTEN - (0.2)% (Premiums received - $418,619)     (421,450)
    LIABILITIES IN EXCESS OF OTHER ASSETS - (0.2)%    

(695,834)

    NET ASSETS - 100.0%        

$ 291,298,792

           
 

 

    WRITTEN EQUITY OPTIONS - (0.2)% Broker/Counterparty Expiration Date Exercise Price Notional Value  
    CALL OPTIONS WRITTEN- (0.2)%      
50   Micron Technology, Inc. WFC 07/17/2026 1,250 5,771,450 295,750
50   Taiwan Semiconductor Manufacturing Company Ltd. WFC 07/24/2026   480   2,387,850   125,700
    TOTAL EQUITY OPTIONS WRITTEN (Cost - $418,619)  

421,450

                 

 

 

 

 

 

ADR  - American Depositary Receipt
Ltd.  - Limited Company
WFC - Wells Fargo
 

 

 

 

(a) Non-income producing security.
(b) Rate disclosed is the seven-day effective yield as of June 30, 2026.
(c) Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security.