Copley
Fund
Schedule
of
Investments
July
31,
2026
(Unaudited)
COMMON
STOCKS
—
107.75%
Shares
Fair
Value
Communications
—
25.33%
Alphabet,
Inc.,
Class
A
15,327
$
5,458,405
Comcast
Corp.,
Class
A
159,293
3,816,660
Meta
Platforms,
Inc.,
Class
A
9,874
5,496,954
Netflix,
Inc.
(a)
74,089
5,312,922
TripAdvisor,
Inc.
(a)
258,212
3,657,573
Verizon
Communications,
Inc.
45,160
2,113,940
Walt
Disney
Co.
(The)
47,400
4,559,406
30,415,860
Consumer
Discretionary
—
5.45%
McDonald's
Corp.
6,018
1,628,712
NIKE,
Inc.,
Class
B
61,513
2,565,707
RH
(a)
14,219
2,353,529
6,547,948
Consumer
Staples
—
3.77%
PepsiCo,
Inc.
7,020
979,711
Philip
Morris
International,
Inc.
14,773
2,818,984
Procter
&
Gamble
Co.
(The)
5,053
730,108
4,528,803
Energy
—
8.02%
ConocoPhillips
9,747
1,174,319
Marathon
Petroleum
Corp.
19,486
6,166,734
Phillips
66
10,794
2,284,874
9,625,927
Financials
—
34.16%
American
Express
Co.
13,195
4,436,819
American
International
Group,
Inc.
56,607
4,448,178
Bank
of
America
Corp.
99,174
6,143,829
Berkshire
Hathaway,
Inc.,
Class
B
(a)
7,834
4,007,404
Goldman
Sachs
Group,
Inc.
(The)
5,481
5,581,741
JPMorgan
Chase
&
Co.
14,827
5,215,990
Morgan
Stanley
28,489
5,994,655
Wells
Fargo
&
Co.
59,871
5,175,848
41,004,464
Health
Care
—
8.93%
AbbVie,
Inc.
15,202
3,814,790
CVS
Health
Corp.
42,870
4,476,914
Pfizer,
Inc.
97,394
2,435,824
10,727,528
Industrials
—
7.62%
Boeing
Co.
(The)
(a)
7,105
1,535,675
CSX
Corp.
58,324
2,939,530
RTX
Corp.
21,740
4,678,882
9,154,087
Technology
—
14.47%
Apple,
Inc.
22,972
7,096,281
Microsoft
Corp.
16,410
7,626,055
Copley
Fund
Schedule
of
Investments
(continued)
July
31,
2026
(Unaudited)
COMMON
STOCKS
—
107.75%
-
continued
Shares
Fair
Value
Technology
—
14.47%
-
continued
Oracle
Corp.
20,453
$
2,656,231
17,378,567
Total
Common
Stocks
(Cost $79,197,886)
129,383,184
MONEY
MARKET
FUNDS
-
3.14%
Federated
Hermes
Treasury
Obligations
Fund,
Institutional
Shares,
3.54%
(b)
3,773,115
3,773,115
Total
Money
Market
Funds
(Cost
$3,773,115)
3,773,115
Total
Investments
—
110.89%
(Cost
$82,971,001)
133,156,299
Liabilities
in
Excess
of
Other
Assets — (
10.89)%
(13,073,955)
NET
ASSETS
—
100.00%
$
120,082,344
(a)
Non-income
producing
security.
(b)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
July
31,
2026.