|
Description
|
|
Number of
Shares
|
Value
|
|
COMMON STOCKS − 98.9%
|
|||
|
COMMUNICATION SERVICES − 4.3%
|
|||
|
DIVERSIFIED TELECOMMUNICATION SERVICES − 4.3%
|
|||
|
AT&T, Inc.
|
|
50,052
|
$1,163,709
|
|
Verizon Communications, Inc.
|
|
63,494
|
2,972,154
|
|
|
|
|
$4,135,863
|
|
MEDIA − 0.0%(1)
|
|||
|
Omnicom Group, Inc.
|
|
1
|
79
|
|
TOTAL COMMUNICATION SERVICES
|
$4,135,942
|
||
|
CONSUMER DISCRETIONARY − 3.8%
|
|||
|
HOTELS, RESTAURANTS & LEISURE − 2.6%
|
|||
|
McDonald's Corp.
|
|
3,113
|
842,502
|
|
Starbucks Corp.
|
|
15,803
|
1,663,266
|
|
|
|
|
$2,505,768
|
|
SPECIALTY RETAIL − 1.2%
|
|||
|
Home Depot, Inc. (The)
|
|
3,559
|
1,181,445
|
|
TOTAL CONSUMER DISCRETIONARY
|
$3,687,213
|
||
|
CONSUMER STAPLES − 7.4%
|
|||
|
BEVERAGES − 1.1%
|
|||
|
PepsiCo., Inc.
|
|
7,312
|
1,020,463
|
|
CONSUMER STAPLES DISTRIBUTION & RETAIL − 1.8%
|
|||
|
Target Corp.
|
|
12,170
|
1,758,443
|
|
HOUSEHOLD PRODUCTS − 1.1%
|
|||
|
Procter & Gamble Co. (The)
|
|
7,114
|
1,027,902
|
|
PERSONAL CARE PRODUCTS − 1.5%
|
|||
|
Unilever PLC, ADR
|
|
23,262
|
1,475,043
|
|
TOBACCO − 1.9%
|
|||
|
Philip Morris International, Inc.
|
|
9,814
|
1,872,708
|
|
TOTAL CONSUMER STAPLES
|
$7,154,559
|
||
|
ENERGY − 9.6%
|
|||
|
OIL, GAS & CONSUMABLE FUELS − 9.6%
|
|||
|
Chevron Corp.
|
|
12,907
|
2,540,485
|
|
Enbridge, Inc.
|
|
28,362
|
1,544,594
|
|
ExxonMobil Holdings Corp.
|
|
13,101
|
2,036,419
|
|
Valero Energy Corp.
|
|
10,104
|
3,161,542
|
|
TOTAL ENERGY
|
$9,283,040
|
||
|
FINANCIALS − 23.7%
|
|||
|
BANKS − 11.9%
|
|||
|
Bank of America Corp.
|
|
74,585
|
4,620,541
|
|
JPMorgan Chase & Co.
|
|
15,430
|
5,428,119
|
|
Regions Financial Corp.
|
|
47,305
|
1,464,090
|
|
|
|
|
$11,512,750
|
|
Description
|
|
Number of
Shares
|
Value
|
|
CAPITAL MARKETS − 7.5%
|
|||
|
Blackrock, Inc.
|
|
1,813
|
$1,976,877
|
|
CME Group, Inc.
|
|
5,105
|
1,367,068
|
|
Morgan Stanley
|
|
18,498
|
3,892,349
|
|
|
|
|
$7,236,294
|
|
INSURANCE − 4.3%
|
|||
|
MetLife, Inc.
|
|
22,083
|
2,122,839
|
|
Old Republic International Corp.
|
|
46,617
|
2,014,321
|
|
|
|
|
$4,137,160
|
|
TOTAL FINANCIALS
|
$22,886,204
|
||
|
HEALTH CARE − 13.8%
|
|||
|
BIOTECHNOLOGY − 2.6%
|
|||
|
AbbVie, Inc.
|
|
10,107
|
2,536,251
|
|
HEALTH CARE EQUIPMENT & SUPPLIES − 1.7%
|
|||
|
Medtronic PLC
|
|
19,381
|
1,654,944
|
|
HEALTH CARE PROVIDERS & SERVICES − 2.6%
|
|||
|
UnitedHealth Group, Inc.
|
|
6,180
|
2,560,992
|
|
PHARMACEUTICALS − 6.9%
|
|||
|
Johnson & Johnson
|
|
12,907
|
3,308,709
|
|
Pfizer, Inc.
|
|
85,871
|
2,147,634
|
|
Sanofi SA, ADR
|
|
27,580
|
1,188,146
|
|
|
|
|
$6,644,489
|
|
TOTAL HEALTH CARE
|
$13,396,676
|
||
|
INDUSTRIALS − 11.0%
|
|||
|
AEROSPACE & DEFENSE − 1.5%
|
|||
|
Lockheed Martin Corp.
|
|
2,502
|
1,458,015
|
|
BUILDING PRODUCTS − 3.7%
|
|||
|
Johnson Controls International PLC
|
|
24,288
|
3,562,078
|
|
GROUND TRANSPORTATION − 1.6%
|
|||
|
Union Pacific Corp.
|
|
5,200
|
1,519,076
|
|
MACHINERY − 4.2%
|
|||
|
Caterpillar, Inc.
|
|
2,943
|
2,397,986
|
|
PACCAR, Inc.
|
|
12,560
|
1,666,461
|
|
|
|
|
$4,064,447
|
|
TOTAL INDUSTRIALS
|
$10,603,616
|
||
|
INFORMATION TECHNOLOGY − 14.5%
|
|||
|
COMMUNICATIONS EQUIPMENT − 4.1%
|
|||
|
Cisco Systems, Inc.
|
|
33,859
|
3,927,306
|
|
IT SERVICES − 1.9%
|
|||
|
International Business Machines Corp.
|
|
8,143
|
1,821,182
|
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT − 8.5%
|
|||
|
Broadcom, Inc.
|
|
8,832
|
3,438,121
|
|
QUALCOMM, Inc.
|
|
14,180
|
2,093,110
|
|
Description
|
|
Number of
Shares
|
Value
|
|
Texas Instruments, Inc.
|
|
9,863
|
$2,719,623
|
|
|
|
|
$8,250,854
|
|
TOTAL INFORMATION TECHNOLOGY
|
$13,999,342
|
||
|
MATERIALS − 1.5%
|
|||
|
CHEMICALS − 1.5%
|
|||
|
Air Products & Chemicals, Inc.
|
|
4,758
|
1,403,086
|
|
TOTAL MATERIALS
|
$1,403,086
|
||
|
REAL ESTATE − 4.0%
|
|||
|
HEALTH CARE REITS − 2.5%
|
|||
|
Healthpeak Properties, Inc.
|
|
110,506
|
2,412,346
|
|
SPECIALIZED REITS − 1.5%
|
|||
|
VICI Properties, Inc.
|
|
56,431
|
1,486,957
|
|
TOTAL REAL ESTATE
|
$3,899,303
|
||
|
UTILITIES − 5.3%
|
|||
|
ELECTRIC UTILITIES − 5.3%
|
|||
|
American Electric Power Co., Inc.
|
|
16,684
|
2,133,050
|
|
Description
|
|
Number of
Shares
|
Value
|
|
Duke Energy Corp.
|
|
15,163
|
$1,901,895
|
|
NextEra Energy, Inc.
|
|
12,809
|
1,113,358
|
|
TOTAL UTILITIES
|
$5,148,303
|
||
|
TOTAL COMMON STOCKS
(COST $58,442,457)
|
$95,597,284
|
||
|
MONEY MARKET FUND − 1.0%
|
|||
|
BNY Dreyfus Government Cash Management
Fund, Institutional Shares, 3.56%^
|
|
996,105
|
996,105
|
|
TOTAL MONEY MARKET FUND
(COST $996,105)
|
$996,105
|
||
|
TOTAL INVESTMENTS − 99.9%
(COST $59,438,562)
|
$96,593,389
|
||
|
OTHER ASSETS LESS LIABILITIES − 0.1%
|
130,865
|
||
|
TOTAL NET ASSETS − 100.0%
|
$96,724,254
|
||
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Investments in Securities
|
|
|
|
|
|
Common Stocks
|
$95,597,284
|
$—
|
$—
|
$95,597,284
|
|
Money Market Fund
|
996,105
|
—
|
—
|
996,105
|
|
Total
|
$96,593,389
|
$—
|
$—
|
$96,593,389
|
|
^
|
7-Day net yield.
|
|
(1)
|
Represents less than 0.05%.
|
|
The following acronyms are used throughout this Portfolio of Investments:
|
|
|
ADR
|
American Depositary Receipt
|
|
PLC
|
Public Limited Company
|