|
|
APPLIED FINANCE SELECT FUND |
|
|
|
|
Schedule of Investments |
|
|
|
|
July 31, 2026 (unaudited) |
|
|
99.26% |
COMMON STOCKS |
Shares |
|
Value |
|
|
|
||
10.60% |
COMMUNICATION SERVICES |
|
|
|
|
Alphabet, Inc. Class A |
65,761 |
$ |
23,419,465 |
|
Meta Platforms, Inc. |
30,339 |
|
16,890,025 |
|
Verizon Communications, Inc. |
365,944 |
|
17,129,839 |
|
The Walt Disney Co. |
170,544 |
|
16,404,627 |
|
|
|
|
73,843,956 |
8.86% |
CONSUMER DISCRETIONARY |
|
|
|
|
Aptiv plc(A) |
176,991 |
|
9,994,682 |
|
Darden Restaurants, Inc. |
66,097 |
|
13,456,027 |
|
DR Horton, Inc. |
91,271 |
|
13,057,229 |
|
Lowe's Companies, Inc. |
56,724 |
|
11,787,814 |
|
Marriott International Class A |
36,000 |
|
13,421,880 |
|
|
|
|
61,717,632 |
4.97% |
CONSUMER STAPLES |
|
|
|
|
Constellation Brands, Inc. |
56,186 |
|
7,317,103 |
|
Keurig Dr Pepper, Inc. |
300,854 |
|
9,362,576 |
|
Target Corp. |
68,467 |
|
9,892,797 |
|
Tyson Foods, Inc. Class A |
139,050 |
|
8,059,338 |
|
|
|
|
34,631,814 |
3.17% |
ENERGY |
|
|
|
|
ConocoPhillips |
90,727 |
|
10,930,789 |
|
Valero Energy Corp. |
35,641 |
|
11,152,069 |
|
|
|
|
22,082,858 |
12.84% |
FINANCIALS |
|
|
|
|
Ameriprise Financial, Inc. |
23,338 |
|
12,738,814 |
|
Bank of America Corp. |
199,054 |
|
12,331,395 |
|
Fiserv, Inc.(A) |
191,644 |
|
10,337,277 |
|
JPMorgan Chase & Co. |
40,550 |
|
14,265,085 |
|
Mastercard, Inc. Class A |
22,235 |
|
12,742,879 |
|
MetLife, Inc. |
146,210 |
|
14,055,167 |
|
The Travelers Companies, Inc. |
34,515 |
|
12,921,035 |
|
|
|
|
89,391,652 |
|
APPLIED FINANCE SELECT FUND |
|
|
|
|
Schedule of Investments |
|
|
|
|
July 31, 2026 (unaudited) |
Shares |
|
Value |
8.77% |
HEALTH CARE |
|
||
|
|
|
||
|
CVS Health Corp. |
101,060 |
$ |
10,553,696 |
|
McKesson Corp. |
12,123 |
|
10,379,591 |
|
Merck & Company, Inc. |
66,834 |
|
8,701,787 |
|
Regeneron Pharmaceuticals, Inc. |
14,152 |
|
10,792,740 |
|
Stryker Corp. |
30,380 |
|
9,894,766 |
|
Thermo Fisher Scientific, Inc. |
18,737 |
|
10,760,659 |
|
|
|
|
61,083,239 |
8.70% |
INDUSTRIALS |
|
|
|
|
Cummins, Inc. |
19,648 |
|
12,460,762 |
|
Quanta Services, Inc. |
17,689 |
|
11,804,931 |
|
Union Pacific Corp. |
42,265 |
|
12,346,874 |
|
United Rentals, Inc. |
10,907 |
|
11,771,489 |
|
Wabtec Corp. |
42,060 |
|
12,233,572 |
|
|
|
|
60,617,628 |
21.19% |
INFORMATION TECHNOLOGY-Hardware |
|
|
|
|
Apple, Inc. |
81,827 |
|
25,277,179 |
|
Applied Materials, Inc. |
35,904 |
|
18,227,384 |
|
Cisco Systems, Inc. |
186,247 |
|
21,602,790 |
|
Dell Technologies |
51,773 |
|
20,987,221 |
|
HP, Inc. |
812,222 |
|
22,149,294 |
|
KLA Corp. |
96,030 |
|
17,556,205 |
|
Nvidia Corp. |
108,663 |
|
21,814,097 |
|
|
|
|
147,614,170 |
14.40% |
INFORMATION TECHNOLOGY-Software & Services |
|
|
|
|
Adobe, Inc.(A) |
79,105 |
|
19,808,683 |
|
International Business Machines Corp. |
76,688 |
|
17,151,271 |
|
Microsoft Corp. |
55,993 |
|
26,021,067 |
|
Oracle Corp. |
128,351 |
|
16,668,944 |
|
Roper Technologies, Inc. |
52,739 |
|
20,672,106 |
|
|
|
|
100,322,071 |
1.96% |
MATERIALS |
|
|
|
|
The Sherwin-Williams Co. |
18,685 |
|
6,368,782 |
|
Steel Dynamics, Inc. |
28,886 |
|
7,257,896 |
|
|
|
|
13,626,678 |
|
APPLIED FINANCE SELECT FUND |
|
|
|
|
Schedule of Investments |
|
|
|
|
July 31, 2026 (unaudited) |
Shares |
|
Value |
1.76% |
REAL ESTATE |
|
||
|
|
|
||
|
CBRE Group, Inc.(A) |
83,619 |
$ |
12,276,105 |
2.04% |
UTILITIES |
|
|
|
|
DTE Energy Co. |
52,413 |
|
7,435,832 |
|
Public Service Enterprise Group, Inc. |
88,216 |
|
6,764,403 |
|
|
|
|
14,200,235 |
99.26% |
TOTAL COMMON STOCKS |
|
|
691,408,038 |
|
(Cost: $509,997,751) |
|
|
|
0.34% |
EXCHANGE TRADED FUNDS |
|
|
|
0.34% |
LARGE-CAP FUNDS |
|
|
|
|
Applied Finance IVS International Large ETF(B) |
80,000 |
|
2,348,584 |
|
(Cost: $2,044,800) |
|
|
|
0.40% |
MONEY MARKET FUNDS |
|
|
|
|
Federated Treasury Obligations Fund 3.550%(B) |
2,764,779 |
|
2,764,779 |
|
(Cost: $2,764,779) |
|
|
|
100.00% |
TOTAL INVESTMENTS |
|
|
696,521,401 |
|
(Cost: $514,807,329) |
|
|
|
0.00% |
Other assets, net of liabilities |
|
|
24,488 |
100.00% |
NET ASSETS |
|
$ |
696,545,889 |
(A)Non-income producing
(B)Affiliated Investment - The Fund's Advisor also serves as advisor to the underlying ETF. (Note 1)
(C)Effective 7 day yield as of July 31,2026
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: |
|
|
|
|||||
|
|
|
|
Level 2 |
|
Level 3 |
|
|
|
|
|
|
Other |
Significant |
|
|
|
|
|
Level 1 |
Significant |
Unobservable |
|
|
||
Assets |
|
Quoted Prices |
Observable Inputs |
|
Inputs |
|
Total |
|
|
|
|
|
|
|
|
|
|
Common Stocks |
$ |
691,408,038 |
$ |
- |
$ |
- |
$ |
691,408,038 |
Exchange Traded Funds |
|
2,348,584 |
|
- |
|
- |
|
2,348,584 |
Money Market Funds |
|
2,764,779 |
|
- |
|
- |
|
2,764,779 |
|
$ |
696,521,401 |
$ |
- |
$ |
- |
$ |
696,521,401 |
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 $514,807,329, and the related net unrealized appreciation (depreciation) consists of:
Gross unrealized appreciation |
$ |
205,059,618 |
Gross unrealized depreciation |
|
(23,345,546) |
Net unrealized appreciation (depreciation) |
$ |
181,714,072 |