|
APPLIED FINANCE DIVIDEND FUND |
|
|
|
|
|
Schedule of Investments |
|
|
|
|
July 31, 2026 (unaudited) |
|
|
99.29% |
COMMON STOCKS |
Shares |
|
Value |
|
|
|
||
5.16% |
COMMUNICATION SERVICES |
|
|
|
|
Fox Corp. Class A |
15,309 |
$ |
891,443 |
|
Verizon Communications, Inc. |
18,810 |
|
880,496 |
|
|
|
|
1,771,939 |
7.68% |
CONSUMER DISCRETIONARY |
|
|
|
|
Darden Restaurants, Inc. |
4,383 |
|
892,291 |
|
Hasbro, Inc. |
9,539 |
|
896,094 |
|
Home Depot, Inc. |
2,556 |
|
848,490 |
|
|
|
|
2,636,875 |
10.17% |
CONSUMER STAPLES |
|
|
|
|
Ingredion, Inc. |
8,088 |
|
804,432 |
|
Molson Coors Beverage Co. Class B |
20,110 |
|
835,772 |
|
Target Corp. |
6,599 |
|
953,490 |
|
Unilever plc ADR |
14,153 |
|
897,442 |
|
|
|
|
3,491,136 |
5.66% |
ENERGY |
|
|
|
|
Chevron Corp. |
4,552 |
|
895,970 |
|
Marathon Petroleum Corp. |
3,311 |
|
1,047,832 |
|
|
|
|
1,943,802 |
21.19% |
FINANCIALS |
|
|
|
|
Ameriprise Financial, Inc. |
1,675 |
|
914,282 |
|
Huntington Bancshares |
49,954 |
|
851,216 |
|
JPMorgan Chase & Co. |
2,593 |
|
912,191 |
|
The PNC Financial Services Group, Inc. |
3,557 |
|
888,788 |
|
Prudential Financial, Inc. |
7,489 |
|
914,257 |
|
State Street Corp. |
5,217 |
|
960,763 |
|
The Travelers Companies, Inc. |
2,598 |
|
972,587 |
|
Truist Financial Corp. |
16,578 |
|
859,404 |
|
|
|
|
7,273,488 |
|
APPLIED FINANCE DIVIDEND FUND |
|
|
|
|
|
Schedule of Investments |
|
|
|
|
July 31, 2026 (unaudited) |
|
|
15.67% |
HEALTH CARE |
Shares |
|
Value |
|
|
|
||
|
Abbott Laboratories |
8,513 |
$ |
899,824 |
|
Abbvie, Inc. |
3,541 |
|
888,579 |
|
Eli Lilly & Co. |
771 |
|
885,756 |
|
Johnson & Johnson |
3,523 |
|
903,121 |
|
Merck & Company, Inc. |
7,072 |
|
920,774 |
|
Novartis AG ADR |
5,629 |
|
878,968 |
|
|
|
|
5,377,022 |
10.67% |
INDUSTRIALS |
|
|
|
|
Eaton Corp. plc |
2,156 |
|
895,171 |
|
Norfolk Southern Corp. |
2,553 |
|
856,479 |
|
PACCAR, Inc. |
6,970 |
|
924,779 |
|
RTX Corp. |
4,578 |
|
985,277 |
|
|
|
|
3,661,706 |
10.63% |
INFORMATION TECHNOLOGY |
|
|
|
|
Accenture plc Class A |
4,954 |
|
821,968 |
|
Cisco Systems, Inc. |
8,134 |
|
943,463 |
|
HP, Inc. |
31,673 |
|
863,723 |
|
Microsoft Corp. |
2,192 |
|
1,018,666 |
|
|
|
|
3,647,820 |
2.33% |
MATERIALS |
|
|
|
|
LyondellBasell Industries NV |
12,897 |
|
800,646 |
2.80% |
REAL ESTATE |
|
|
|
|
Omega Healthcare Investors, Inc. REIT |
18,939 |
|
958,882 |
7.33% |
UTILITIES |
|
|
|
|
Public Service Enterprise Group, Inc. |
10,963 |
|
840,643 |
|
Sempra Energy |
9,441 |
|
836,001 |
|
UGI Corp. |
23,196 |
|
837,840 |
|
|
|
|
2,514,484 |
99.29% |
TOTAL COMMON STOCKS |
|
|
34,077,800 |
|
(Cost: $26,086,856) |
|
|
|
|
APPLIED FINANCE DIVIDEND FUND |
|
|
|
|
Schedule of Investments |
|
|
|
|
July 31, 2026 (unaudited) |
Shares |
|
Value |
0.58% |
MONEY MARKET FUNDS |
|
||
|
|
|
||
|
Federated Treasury Obligations Fund 3.550%(B) |
199,449 |
$ |
199,449 |
|
(Cost: $199,449) |
|
|
|
99.87% |
TOTAL INVESTMENTS |
|
|
34,277,249 |
|
(Cost: $26,286,305) |
|
|
|
0.13% |
Other assets, net of liabilities |
|
|
45,895 |
100.00% |
NET ASSETS |
|
$ |
34,323,144 |
(B)Effective 7 day yield as of July 31,2026
ADR - Security represented is held by the custodian in the form of American Depositary Receipts. REIT - Real Estate Investment Trust.
See Notes to Schedule of Investments.
In accordance with U.S. GAAP, "fair value" is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. Various inputs are used
in determining the value of a Fund’s investments. U.S. GAAP established a three-tier hierarchy of inputs to establish a classification of fair value measurements for disclosure purposes. Level 1 includes quoted prices in active markets for identical
securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining fair value of investments).
The inputs or methodology used for valuing securities are not necessarily an |
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indication of the risk associated with investing in those securities. |
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The following summarizes the inputs used to value the Fund’s investments as of July 31, 2026: |
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|
||||||
|
|
|
|
Level 2 |
|
Level 3 |
|
|
|
|
|
|
Other |
Significant |
|
|
|
|
|
Level 1 |
Significant |
Unobservable |
|
|
||
Assets |
|
Quoted Prices |
Observable Inputs |
|
Inputs |
|
Total |
|
|
|
|
|
|
|
|
|
|
Common Stocks |
$ |
34,077,800 |
$ |
- |
$ |
- |
$ |
34,077,800 |
Money Market Funds |
|
199,449 |
|
- |
|
- |
|
199,449 |
|
$ |
34,277,249 |
$ |
- |
$ |
- |
$ |
34,277,249 |
The cost of investments for Federal income tax purposes has been estimated a/o July 31, 2026, since
the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income tax purposes is $26,286,305, and the related net unrealized appreciation (depreciation) consists of:
Gross unrealized appreciation |
$ |
9,144,381 |
Gross unrealized depreciation |
|
(1,153,437) |
Net unrealized appreciation (depreciation) |
$ |
7,990,944 |