Commonwealth
Australia/New
Zealand
Fund
Schedule
of
Investments
July
31,
2026
-
(Unaudited)
COMMON
STOCKS
(
98
.31
%
)
Sh
ar
e
s
F
air
V
alu
e
Australia
(
32
.34
%
)
Application
Software
(
0
.80
%
)
Pro
Medicus
Ltd.
500
$
57,120
WiseTech
Global
Ltd.
2,000
51,130
108,250
Base
Metals
(
0
.12
%
)
Lotus
Resources
Ltd.
(a)
94,782
16,021
Biotech
(
1
.60
%
)
CSL
Ltd.
2,500
216,670
Containers
&
Packaging
(
4
.71
%
)
Brambles
Ltd.
46,216
637,629
Data
Center
REITs
(
1
.32
%
)
DigiCompany
Infrastructure
REIT
100,000
178,885
Diversified
Banks
(
2
.07
%
)
Macquarie
Group
Ltd.
1,574
280,558
Environmental
&
Facilities
Services
(
1
.53
%
)
Cleanaway
Waste
Management
Ltd.
125,946
207,559
Gas
Utilities
(
2
.45
%
)
APA
Group
46,187
331,464
Health
Care
Facilities
(
0
.88
%
)
Ramsay
Health
Care
Ltd.
3,816
119,164
Health
Care
Services
(
2
.09
%
)
Sonic
Healthcare
Ltd.
18,382
283,000
Industrial
REITs
(
0
.46
%
)
Goodman
Group
3,000
62,899
Information
Technology
(
0
.49
%
)
NEXTDC
Ltd.
(a)
7,000
65,864
Infrastructure
Software
(
0
.73
%
)
xReality
Group
Ltd.
(a)
2,000,000
98,599
Iron
(
0
.50
%
)
BHP
Group
Ltd.
-
ADR
800
67,592
Medical
Devices
(
1
.09
%
)
Cochlear
Ltd.
1,750
147,824
Mineral
&
Precious
Stone
Mining
(
2
.06
%
)
Lynas
Rare
Earth
Ltd.
-
ADR
(a)
28,500
279,300
P&C
Insurance
(
2
.73
%
)
QBE
Insurance
Group
Ltd.
17,797
309,966
Suncorp
Group
Ltd.
4,451
60,155
370,121
Retail
REITs
(
1
.18
%
)
Scentre
Group
Ltd.
57,779
159,514
Commonwealth
Australia/New
Zealand
Fund
Schedule
of
Investments
(continued)
July
31,
2026
-
(Unaudited)
COMMON
STOCKS
(98.31%)
-
(continued)
Sh
ar
e
s
F
air
V
alu
e
Transport
Operations
&
Services
(
1
.30
%
)
Transurban
Group
16,885
$
176,116
Wireless
Telecommunications
(
4
.23
%
)
Telstra
Corp.
Ltd.
162,198
573,445
Total
Australia
4,380,474
New
Zealand
(
64
.14
%
)
Alcoholic
Beverages
(
0
.39
%
)
Delegat
Group
Ltd.
21,456
53,488
Courier
Services
(
6
.24
%
)
Freightways
Ltd.
103,540
845,137
Flow
Control
Equipment
(
4
.54
%
)
Skellerup
Holdings
Ltd.
150,000
614,392
Food
&
Drug
Stores
(
1
.81
%
)
Green
Cross
Health
Ltd.
211,796
245,273
Health
Care
Facilities
(
3
.44
%
)
Oceania
Healthcare
Ltd.
(a)
457,544
203,587
Ryman
Healthcare
Ltd.
(a)
207,600
261,825
465,412
Health
Care
Supply
Chain
(
0
.96
%
)
AFT
Pharmaceuticals
Ltd.
46,000
130,398
Home
Products
Stores
(
3
.67
%
)
Briscoe
Group
Ltd.
183,520
497,520
Life
Science
&
Diagnostics
(
0
.94
%
)
Pacific
Edge
Ltd.
(a)
800,000
127,299
Logistics
Services
(
6
.02
%
)
Mainfreight
Ltd.
20,000
815,653
Measurement
Instruments
(
4
.18
%
)
ikeGPS
Group
Ltd.
(a)
831,366
565,905
Medical
Devices
(
0
.43
%
)
Aroa
Biosurgery
Ltd.
(a)
145,000
58,208
P&C
Insurance
(
2
.59
%
)
Tower
Ltd.
320,000
350,778
Packaged
Food
(
1
.76
%
)
Sanford
Ltd.
60,000
238,685
Power
Generation
(
11
.31
%
)
Contact
Energy
Ltd.
30,603
164,125
Infratil
Ltd.
156,975
1,367,332
1,531,457
Transport
Operations
&
Services
(
15
.86
%
)
Port
of
Tauranga
Ltd.
55,000
262,553
Commonwealth
Australia/New
Zealand
Fund
Schedule
of
Investments
(continued)
July
31,
2026
-
(Unaudited)
COMMON
STOCKS
(98.31%)
-
(continued)
Sh
ar
e
s
F
air
V
alu
e
Transport
Operations
&
Services
(15.86%)
-
continued
South
Port
New
Zealand
Ltd.
376,010
$
1,883,595
2,146,148
Total
New
Zealand
8,685,753
United
States
(
1
.83
%
)
Fabricated
Metal
&
Hardware
(
1
.83
%
)
Reliance
Worldwide
Corp.
Ltd.
100,000
247,905
Total
United
States
247,905
Total
Common
Stocks
(Cost $7,081,296)
13,314,132
MONEY
MARKET
FUNDS
(
0
.03
%
)
Federated
Hermes
Government
Obligations
Fund,
Institutional
Class,
3.52%
(b)
3,737
3,737
Total
Money
Market
Funds
(Cost
$3,737)
3,737
Total
Investments
—
(98.34%)
(Cost
$7,085,033)
13,317,869
Other
Assets
in
Excess
of
Liabilities (1.66%)
224,693
NET
ASSETS
—
100.00%
$
13,542,562
(a)
Non-income
producing
security.
(b)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
July
31,
2026.
ADR
-
American
Depositary
Receipt
REIT
-
Real
Estate
Investment
Trust
Africa
Fund
Schedule
of
Investments
July
31,
2026
-
(Unaudited)
COMMON
STOCKS
(
97.27%
)
Sh
ar
e
s
F
air
V
alu
e
Egypt
(
1.49%
)
Banks
(
1.49%
)
Commercial
International
Bank
Egypt
SAE
-
GDR
38,028
$
103,521
Total
Egypt
103,521
South
Africa
(
90.28%
)
Agricultural
Chemicals
(
3.48%
)
Omnia
Holdings
Ltd.
38,000
242,080
Agricultural
Producers
(
4.03%
)
Astral
Foods
Ltd.
12,200
156,949
Oceana
Group
Ltd.
28,000
123,670
280,619
Automotive
Retailers
(
4.00%
)
Bidvest
Group
Ltd.
9,000
135,053
Motus
Holdings
Ltd.
22,500
143,294
278,347
Banks
(
20.77%
)
Capitec
Bank
Holdings
Ltd.
3,000
856,705
FirstRand
Ltd.
23,200
138,766
Nedbank
Group
Ltd.
6,000
101,506
Standard
Bank
Group
Ltd.
-
ADR
17,300
348,075
1,445,052
Building
Construction
(
1.66%
)
Wilson
Bayly
Holmes-Ovcon
Ltd.
12,100
115,669
Coal
Mining
(
1.78%
)
Exxaro
Resources
Ltd.
10,000
123,534
Consumer
Elec
&
Applc
Whslrs
(
4.13%
)
DataTec
Ltd.
56,018
287,553
Containers
&
Packaging
(
1.73%
)
Nampak
Ltd.
(a)
4,500
120,100
Food
&
Beverage
Wholesalers
(
1.84%
)
Bid
Corp.
Ltd.
4,667
128,039
Food
&
Drug
Stores
(
2.25%
)
Shoprite
Holdings
Ltd.
-
ADR
9,000
156,308
Institutional
Brokerage
(
0.72%
)
Coronation
Fund
Managers
Ltd.
19,500
50,108
Internet
Media
&
Services
(
3.93%
)
Naspers
Ltd.,
N
Shares
5,200
273,254
Iron
(
1.48%
)
Kumba
Iron
Ore
Ltd.
6,500
103,183
Life
&
Health
Insurance
(
2.58%
)
Momentum
Metropolitan
Holdings
72,000
179,289
Africa
Fund
Schedule
of
Investments
(continued)
July
31,
2026
-
(Unaudited)
COMMON
STOCKS
(97.27%)
-
(continued)
Sh
ar
e
s
F
air
V
alu
e
Life
Insurance
(
2.74%
)
Discovery
Ltd.
12,000
$
190,869
Marine
Shipping
(
3.72%
)
Grindrod
Ltd.
160,000
258,817
Other
Financial
Services
(
1.16%
)
Old
Mutual
Ltd.
100,000
80,900
Paper
&
Pulp
Mills
(
0.42%
)
Sappi
Ltd.
(a)
41,000
29,540
Precious
Metals
(
8.60%
)
Anglo
American
Platinum
Ltd.
1,100
82,379
Gold
Fields
Ltd.
-
ADR
8,200
265,844
Harmony
Gold
Mining
Co.
Ltd.
3,500
55,230
Impala
Platinum
Holdings
Ltd.
12,500
136,343
Sibanye
Stillwater
Ltd.
27,000
58,360
598,156
Real
Estate
Services
(
4.36%
)
Vukile
Property
Fund
Ltd.
198,000
303,007
Self-Storage
Owners
&
Developers
(
1.86%
)
Stor-Age
Property
REIT
Ltd.
130,000
129,259
Specialty
&
Generic
Pharmaceuticals
(
1.82%
)
Aspen
Pharmacare
Holdings
Ltd.
14,000
126,418
Specialty
Apparel
Stores
(
1.76%
)
Mr.
Price
Group
Ltd.
11,900
122,558
Wealth
Management
(
3.57%
)
Alexander
Forbes
Group
Holdings
Ltd.
170,000
74,899
PSG
Konsult
Ltd.
85,000
173,373
248,272
Wireless
Telecommunications
(
5.89%
)
MTN
Group
Ltd.
-
ADR
24,500
306,250
Vodacom
Group
Ltd.
10,700
103,540
409,790
Total
South
Africa
6,280,721
United
Kingdom
(
5.50%
)
Precious
Metals
(
5.50%
)
AngloGold
Ashanti
PLC
3,000
237,960
Endeavour
Mining
PLC
3,000
144,300
Total
United
Kingdom
382,260
Total
Common
Stocks
(Cost $4,283,667)
6,766,502
SOVEREIGN
BONDS
(
1.35%
)
P
ri
nc
i
p
al
Amo
u
nt
South
Africa
(1.35%)
Republic
of
South
Africa
Government
Bond,
6.25%,
3/8/2041
$
100,000
93,709
Total
Sovereign
Bonds
(Cost $91,400)
93,709
Africa
Fund
Schedule
of
Investments
(continued)
July
31,
2026
-
(Unaudited)
MONEY
MARKET
FUNDS
(
1.22%
)
Sh
ar
e
s
F
air
V
alu
e
Federated
Hermes
Government
Obligations
Fund,
Institutional
Class,
3.52%
(b)
84,631
$
84,631
Total
Money
Market
Funds
(Cost
$84,631)
84,631
Total
Investments
—
(99.84%)
(Cost
$4,459,698)
6,944,842
Other
Assets
in
Excess
of
Liabilities (0.16%)
11,144
NET
ASSETS
—
100.00%
$
6,955,986
(a)
Non-income
producing
security.
(b)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
July
31,
2026.
ADR
-
American
Depositary
Receipt
GDR
-
Global
Depositary
Receipt
REIT
-
Real
Estate
Investment
Trust
Commonwealth
Japan
Fund
Schedule
of
Investments
July
31,
2026
-
(Unaudited)
COMMON
STOCKS
(
97
.75
%
)
Sh
ar
e
s
F
air
V
alu
e
Japan
(
97
.75
%
)
Alcoholic
Beverages
(
1
.58
%
)
Kirin
Holdings
Co.
Ltd.
7,000
$
129,867
Auto
Parts
(
0
.72
%
)
DENSO
Corp.
4,800
59,332
Automobiles
(
0
.80
%
)
Toyota
Motor
Corp.
-
ADR
350
66,147
Basic
&
Diversified
Chemicals
(
2
.56
%
)
Mitsubishi
Gas
Chemical
Co.,
Inc.
8,000
211,144
Building
Construction
(
4
.91
%
)
Kajima
Corp.
11,950
404,136
Building
Maintenance
Services
(
1
.66
%
)
Taihei
Dengyo
Kaisha
Ltd.
9,000
136,947
Commercial
&
Residential
Building
Equipment
&
Systems
(
1
.78
%
)
Daikin
Industries
Ltd.
1,000
146,352
Commercial
Finance
(
6
.21
%
)
Kyushu
Leasing
Service
Co.
Ltd.
13,000
128,962
ORIX
Corp.
9,500
382,576
511,538
Communications
Equipment
(
0
.82
%
)
Oki
Electric
Industry
Company
Ltd.
3,900
67,380
Courier
Services
(
1
.10
%
)
Yamato
Holdings
Co.
Ltd.
7,000
91,012
Diversified
Industrials
(
4
.22
%
)
Hitachi
Ltd.
10,500
347,447
Electrical
Power
Equipment
(
5
.57
%
)
Meidensha
Corp.
7,600
459,330
Electronics
Components
(
7
.26
%
)
Murata
Manufacturing
Co.
Ltd.
6,500
302,845
Nidec
Corp.
(a)
6,300
102,552
Taiyo
Yuden
Co.
Ltd.
3,000
192,717
598,114
Exploration
&
Production
(
1
.69
%
)
INPEX
Corp.
6,100
139,000
Factory
Automation
Equipment
(
1
.63
%
)
FANUC
Corp.
3,000
134,478
Food
&
Beverage
Wholesalers
(
1
.12
%
)
Yamae
Group
Holdings
Co.
Ltd.
5,200
91,931
Food
&
Drug
Stores
(
1
.62
%
)
Sugi
Holdings
Company
Ltd.
7,500
132,994
Commonwealth
Japan
Fund
Schedule
of
Investments
(continued)
July
31,
2026
-
(Unaudited)
COMMON
STOCKS
(97.75%)
-
(continued)
Sh
ar
e
s
F
air
V
alu
e
Health
Care
Supplies
(
4
.14
%
)
Hoya
Corp.
2,200
$
341,048
Home
Products
Stores
(
1
.16
%
)
Nitori
Holdings
Co.
Ltd.
6,000
95,690
Infrastructure
Construction
(
1
.61
%
)
Takada
Corp.
12,000
132,537
Integrated
Electric
Utilities
(
1
.40
%
)
Kansai
Electric
Power
Co.,
Inc.
(The)
7,500
114,994
IT
Services
(
3
.13
%
)
INES
Corp.
10,000
134,133
Otsuka
Corp.
6,000
123,414
257,547
Life
Insurance
(
8
.56
%
)
Dai-ichi
Life
Holdings,
Inc.
32,000
385,699
T&D
Holdings,
Inc.
10,000
319,656
705,355
Logistics
Services
(
1
.82
%
)
Nippon
Express
Holdings
Co.
Ltd.
4,500
149,217
Mass
Merchants
(
0
.97
%
)
Aeon
Kyushu
Co.
Ltd.
4,500
80,178
Medical
Devices
(
7
.03
%
)
Asahi
Intecc
Co.
Ltd.
16,000
361,171
Terumo
Corp.
15,000
219,010
580,181
Multi
Asset
Class
Owners
&
Developers
(
3
.27
%
)
Mitsui
Fudosan
Co.
Ltd.
9,000
88,207
Sumitomo
Realty
&
Development
Co.
Ltd.
8,000
181,088
269,295
P&C
Insurance
(
4
.36
%
)
Sompo
Holdings,
Inc.
6,900
308,346
Tokio
Marine
Holdings,
Inc.
-
ADR
1,000
50,660
359,006
Personal
Care
Products
(
2
.38
%
)
Kao
Corp.
4,000
82,126
Unicharm
Corp.
18,000
113,820
195,946
Semiconductor
Manufacturing
(
2
.12
%
)
Tokyo
Electron
Ltd.
500
174,341
Specialty
Apparel
Stores
(
3
.58
%
)
Fast
Retailing
Co.
Ltd.
600
294,739
Specialty
Chemicals
(
1
.33
%
)
Shin-Etsu
Chemical
Co.
Ltd.
3,000
109,316
Transit
Services
(
4
.30
%
)
Daiichi
Koutsu
Sangyo
Co.
Ltd.
12,200
56,412
Commonwealth
Japan
Fund
Schedule
of
Investments
(continued)
July
31,
2026
-
(Unaudited)
COMMON
STOCKS
(97.75%)
-
(continued)
Sh
ar
e
s
F
air
V
alu
e
Transit
Services
(4.30%)
-
continued
East
Japan
Railway
Co.
4,500
$
103,926
Hankyu
Hanshin
Holdings,
Inc.
4,400
130,338
Keikyu
Corp.
6,500
63,583
354,259
Wireless
Telecommunications
(
1
.34
%
)
KDDI
Corp.
6,000
110,108
Total
Japan
8,050,906
Total
Common
Stocks
(Cost $3,766,710)
8,050,906
CORPORATE
BONDS
(
1
.05
%
)
P
ri
nc
i
p
al
Amo
u
nt
United
States
(1.05%)
American
Honda
Finance
Corp,
1.80%,
1/13/2031
$
100,000
86,804
Total
Corporate
Bonds
(Cost $88,367)
86,804
MONEY
MARKET
FUNDS
(
0
.81
%
)
Sh
ar
e
s
Federated
Hermes
Government
Obligations
Fund,
Institutional
Class,
3.52%
(b)
66,901
66,901
Total
Money
Market
Funds
(Cost
$66,901)
66,901
Total
Investments
—
(99.61%)
(Cost
$3,921,978)
8,204,611
Other
Assets
in
Excess
of
Liabilities (0.39%)
32,320
NET
ASSETS
—
100.00%
$
8,236,931
(a)
Non-income
producing
security.
(b)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
July
31,
2026.
ADR
-
American
Depositary
Receipt
REIT
-
Real
Estate
Investment
Trust
Commonwealth
Global
Fund
Schedule
of
Investments
July
31,
2026
-
(Unaudited)
COMMON
STOCKS
(
99
.89
%
)
Sh
ar
e
s
F
air
V
alu
e
Denmark
(
1
.03
%
)
Large
Pharmaceuticals
(
1
.03
%
)
Novo
Nordisk
A/S
-
ADR
4,000
$
188,320
Total
Denmark
188,320
France
(
4
.18
%
)
Basic
&
Diversified
Chemicals
(
1
.17
%
)
Arkema
S.A.
-
ADR
3,130
212,527
Integrated
Oils
(
1
.92
%
)
TotalEnergies
S.E.
4,000
351,440
Water
Utilities
(
1
.09
%
)
Veolia
Environnement
S.A.
-
ADR
10,000
199,900
Total
France
763,867
Germany
(
7
.79
%
)
Diversified
Industrials
(
6
.25
%
)
Siemens
AG
-
ADR
7,000
1,140,300
Electric
Transmission
&
Dist
(
0
.72
%
)
RWE
A.G.
-
ADR
2,000
131,940
P&C
Insurance
(
0
.82
%
)
Allianz
SE
-
ADR
3,000
149,280
Total
Germany
1,421,520
India
(
2
.10
%
)
Banks
(
2
.10
%
)
HDFC
Bank
Ltd.
-
ADR
16,000
382,880
Total
India
382,880
Ireland
(
0
.94
%
)
Building
Materials
(
0
.94
%
)
James
Hardie
Industries
PLC
(a)
6,500
170,885
Total
Ireland
170,885
Israel
(
1
.46
%
)
Application
Software
(
1
.46
%
)
NICE
Ltd.
-
ADR
(a)
2,700
266,733
Total
Israel
266,733
Japan
(
3
.22
%
)
Consumer
Electronics
(
2
.03
%
)
Sony
Group
Corp.
-
ADR
16,000
372,160
Electronics
Components
(
1
.08
%
)
Nidec
Corp.
(a)
50,000
197,500
Life
Insurance
(
0
.11
%
)
Sony
Financial
Group,
Inc.
-
ADR
4,000
19,280
Total
Japan
588,940
Commonwealth
Global
Fund
Schedule
of
Investments
(continued)
July
31,
2026
-
(Unaudited)
COMMON
STOCKS
(99.89%)
-
(continued)
Sh
ar
e
s
F
air
V
alu
e
Mexico
(
1
.39
%
)
Wireless
Telecommunications
(
1
.39
%
)
America
Movil
S.A.B.
de
C.V.,
Class
L
-
ADR
10,000
$
253,500
Total
Mexico
253,500
Netherlands
(
0
.14
%
)
Packaged
Food
(
0
.14
%
)
Magnum
Ice
Cream
Co.
N.V.
(The)
(a)
1,400
26,054
Total
Netherlands
26,054
Norway
(
3
.25
%
)
P&C
Insurance
(
3
.25
%
)
Gjensidige
Forsikring
ASA
-
ADR
20,000
592,600
Total
Norway
592,600
Panama
(
2
.32
%
)
Airlines
(
2
.32
%
)
Copa
Holdings,
S.A.,
Class
A
1
3,000
423,660
Total
Panama
423,660
South
Africa
(
2
.28
%
)
Food
&
Drug
Stores
(
2
.28
%
)
Shoprite
Holdings
Ltd.
-
ADR
24,000
416,820
Total
South
Africa
416,820
Switzerland
(
5
.09
%
)
Large
Pharmaceuticals
(
3
.59
%
)
Roche
Holding
AG
-
ADR
12,000
656,040
Packaged
Food
(
1
.50
%
)
Nestlé
S.A.
-
ADR
2,750
274,863
Total
Switzerland
930,903
Taiwan
Province
of
China
(
4
.43
%
)
Semiconductor
Manufacturing
(
4
.43
%
)
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
-
ADR
2,000
808,500
Total
Taiwan
Province
of
China
808,500
United
Kingdom
(
8
.01
%
)
Alcoholic
Beverages
(
0
.87
%
)
Diageo
PLC
-
ADR
1,800
158,508
Large
Pharma
(
3
.48
%
)
AstraZeneca
PLC
3,750
636,150
Personal
Care
Products
(
1
.81
%
)
Unilever
PLC
-
ADR
5,222
331,127
Publishing
(
1
.85
%
)
Pearson
PLC
-
ADR
20,000
338,800
Total
United
Kingdom
1,464,585
Commonwealth
Global
Fund
Schedule
of
Investments
(continued)
July
31,
2026
-
(Unaudited)
COMMON
STOCKS
(99.89%)
-
(continued)
Sh
ar
e
s
F
air
V
alu
e
United
States
(
52
.26
%
)
Auto
Parts
(
3
.64
%
)
Miller
Industries,
Inc.
13,200
$
663,960
Automotive
Retailers
(
2
.62
%
)
Group
1
Automotive,
Inc.
1,670
478,906
Communications
Equipment
(
7
.62
%
)
Apple,
Inc.
4,500
1,390,094
Computer
Hardware
&
Storage
(
6
.84
%
)
NetApp,
Inc.
7,000
1,249,500
Construction
&
Mining
Machinery
(
3
.57
%
)
Caterpillar,
Inc.
800
651,848
Diversified
Banks
(
4
.04
%
)
JPMorgan
Chase
&
Co.
2,100
738,759
Household
Products
(
2
.45
%
)
Procter
&
Gamble
Co.
(The)
3,100
447,919
Infrastructure
Software
(
5
.92
%
)
CrowdStrike
Holdings,
Inc.,
Class
A
(a)
2,000
381,720
Microsoft
Corp.
1,500
697,080
1,078,800
Integrated
Electric
Utilities
(
0
.93
%
)
Southern
Co.
(The)
1,800
170,172
Integrated
Oil
&
Gas
(
3
.77
%
)
Chevron
Corp.
3,500
688,905
Life
Science
&
Diagnostics
(
3
.14
%
)
Thermo
Fisher
Scientific,
Inc.
1,000
574,300
Oilfield
Services
&
Equipment
(
1
.40
%
)
Natural
Gas
Services
Group,
Inc.
7,000
256,480
Online
Marketplace
(
2
.23
%
)
Amazon.com,
Inc.
(a)
1,500
407,370
Rail
Freight
(
2
.94
%
)
Norfolk
Southern
Corp.
1,600
536,768
Waste
Management
(
1
.15
%
)
Republic
Services,
Inc.
1,000
210,550
Total
United
States
9,544,331
Total
Common
Stocks
(Cost $6,571,108)
18,244,098
Commonwealth
Global
Fund
Schedule
of
Investments
(continued)
July
31,
2026
-
(Unaudited)
MONEY
MARKET
FUNDS
(
0
.10
%
)
Sh
ar
e
s
F
air
V
alu
e
Federated
Hermes
Government
Obligations
Fund,
Institutional
Class,
3.52%
(b)
18,863
$
18,863
Total
Money
Market
Funds
(Cost
$18,863)
18,863
Total
Investments
—
(99.99%)
(Cost
$6,589,971)
18,262,961
Other
Assets
in
Excess
of
Liabilities (0.01%)
1,984
NET
ASSETS
—
100.00%
$
18,264,945
(a)
Non-income
producing
security.
(b)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
July
31,
2026.
ADR
-
American
Depositary
Receipt
REIT
-
Real
Estate
Investment
Trust
Commonwealth
Real
Estate
Securities
Fund
Schedule
of
Investments
July
31,
2026
-
(Unaudited)
COMMON
STOCKS
(
95.21%
)
Sh
ar
e
s
F
air
V
alu
e
Agricultural
Producers
(
0.66%
)
BrasilAgro
-
Company
Brasileira
de
Propriedades
Agricolas
-
ADR
27,432
$
102,870
Banks
(
3.42%
)
Harleysville
Financial
Corp.
8,675
270,400
Third
Coast
Bancshares,
Inc.
(a)
6,000
263,040
533,440
Base
Metals
(
1.54%
)
Teck
Resources
Ltd.,
Class
B
4,000
240,960
Building
Construction
(
2.47%
)
Kajima
Corp.
-
ADR
11,900
386,155
Building
Materials
(
4.22%
)
James
Hardie
Industries
PLC
(a)
25,000
657,250
Cement
&
Aggregates
(
3.79%
)
Cemex
S.A.B.
de
C.V.
-
ADR
30,000
354,600
CRH
PLC
2,500
237,525
592,125
Commercial
&
Residential
Building
Equipment
&
Systems
(
4.53%
)
Lennox
International,
Inc.
1,700
706,996
Data
Center
REITs
(
5.38%
)
Digital
Realty
Trust,
Inc.
3,368
634,935
Equinix,
Inc.
200
203,856
838,791
Health
Care
REITs
(
1.42%
)
CareTrust
REIT,
Inc.
2,500
104,850
Welltower,
Inc.
500
117,220
222,070
Home
Products
Stores
(
3.46%
)
Lowe's
Cos.,
Inc.
2,600
540,306
Homebuilding
(
4.07%
)
D.R.
Horton,
Inc.
2,600
371,956
Lennar
Corp.,
Class
A
3,200
263,520
635,476
Hotel
REITs
(
3.18%
)
Host
Hotels
&
Resorts,
Inc.
8,000
201,040
Ryman
Hospitality
Properties,
Inc.
2,200
294,030
495,070
Hotels
Resorts
&
Cruise
Lines
(
6.35%
)
InterContinental
Hotels
Group
PLC
-
ADR
6,103
990,395
Industrial
Machinery
(
2.94%
)
Techtronic
Industries
Co.
Ltd.
-
ADR
5,500
458,755
Industrial
REITs
(
7.24%
)
First
Industrial
Realty
Trust,
Inc.
1,700
111,928
Commonwealth
Real
Estate
Securities
Fund
Schedule
of
Investments
(continued)
July
31,
2026
-
(Unaudited)
COMMON
STOCKS
(95.21%)
-
continued
Sh
ar
e
s
F
air
V
alu
e
Industrial
REITs
(7.24%)
-
continued
Hannon
Armstrong
Sustainable
Infrastructure
Capital,
Inc.
13,200
$
499,884
Prologis,
Inc.
2,000
289,220
STAG
Industrial,
Inc.
6,000
229,560
1,130,592
Infrastructure
REITs
(
6.08%
)
American
Tower
Corp.,
Class
A
2,500
433,400
Crown
Castle
International
Corp.
2,000
152,600
SBA
Communications
Corp.,
Class
A
2,000
361,960
947,960
Mortgage
Finance
(
1.23%
)
Starwood
Property
Trust,
Inc.
12,000
191,760
Multi
Asset
Class
REITs
(
2.11%
)
WP
Carey,
Inc.
4,470
328,992
Residential
Owners
&
Developers
(
1.21%
)
Cyrela
Brazil
Realty
S.A.
-
ADR
44,000
188,760
Residential
REITs
(
5.52%
)
AvalonBay
Communities,
Inc.
2,000
371,220
Mid-America
Apartment
Communities,
Inc.
800
105,872
Millrose
Properties,
Inc.
7,600
212,648
UDR,
Inc.
4,500
171,720
861,460
Retail
REITs
(
4.34%
)
Kite
Realty
Group
Trust
9,000
257,580
National
Retail
Properties,
Inc.
4,000
190,080
Simon
Property
Group,
Inc.
1,000
229,370
677,030
Self-Storage
REITs
(
6.36%
)
Extra
Space
Storage,
Inc.
2,500
370,100
Global
Self
Storage,
Inc.
39,000
198,900
Public
Storage
1,000
324,170
Smartstop
Self
Storage
REIT,
Inc.
3,000
100,620
993,790
Specialized
REITs
(
7.62%
)
Charter
Hall
Education
Trust
99,140
179,442
Gladstone
Land
Corp.
15,700
127,327
Iron
Mountain,
Inc.
7,200
880,704
1,187,473
Timber
REITs
(
2.88%
)
Rayonier,
Inc.
10,911
237,642
Weyerhaeuser
Co.
8,500
212,755
450,397
Transport
Operations
&
Services
(
3.19%
)
Grupo
Aeroportuario
del
Sureste
S.A.B.
de
C.V.
-
ADR
1,800
496,116
Commonwealth
Real
Estate
Securities
Fund
Schedule
of
Investments
(continued)
July
31,
2026
-
(Unaudited)
COMMON
STOCKS
(95.21%)
-
continued
Sh
ar
e
s
F
air
V
alu
e
Transport
Operations
&
Services
(3.19%)
-
continued
Total
Common
Stocks
(Cost $7,985,880)
$
14,854,989
U.S.
GOVERNMENT
&
AGENCIES
(
3.50%
)
P
ri
nc
i
p
al
Amo
u
nt
Federal
National
Mortgage
Association,
0.88
%
,
8/5/2030
$
200,000
174,114
United
States
Treasury
Note,
3.38
%
,
5/15/2033
400,000
371,930
Total
U.S.
Government
&
Agencies
(Cost $559,750)
546,044
MONEY
MARKET
FUNDS
(
1.37%
)
Sh
ar
e
s
Federated
Hermes
Government
Obligations
Fund,
Institutional
Class,
3.52%
(b)
214,451
214,451
Total
Money
Market
Funds
(Cost
$214,451)
214,451
Total
Investments
—
(100.08%)
(Cost
$8,760,081)
15,615,484
Liabilities
in
Excess
of
Other
Assets (-0.08%)
(12,983)
NET
ASSETS
—
100.00%
$
15,602,501
(a)
Non-income
producing
security.
(b)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
July
31,
2026.
ADR
-
American
Depositary
Receipt
REIT
-
Real
Estate
Investment
Trust