UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-09527
The DCM Series Trust
(Exact name of registrant as specified in charter)
7 Wells Avenue, Newton MA 02459
(Address of principal executive offices) (Zip code)
Emile R. Molineaux, Gemini Fund Services, LLC
150 Motor Parkway, Suite 205, Hauppauge, NY 11788
(Name and address of agent for service)
Registrant's telephone number, including area code: 617-527-0033
Date of fiscal year end: 9/30
Date of reporting period:3/31/05
Item 1. Reports to Stockholders.
SEMI-ANNUAL REPORT | |
| |
TRUSTEES | |
Scott Allen Stuart N. Cole Jonathan J. Derby Mark A Derby Neal Shalom | |
INVESTMENT ADVISOR | |
Derby Capital Management, Inc. 7 Wells Avenue Newton, MA 02459 | |
ADMINISTRATOR | |
Gemini Fund Services, LLC 150 Motor Parkway Hauppauge, NY 11788 | |
CUSTODIAN | |
Bank of New York 1 Wall Street, 25th Floor New York, NY 10286 | |
LEGAL COUNSEL | |
Thomson Hine LLP 312 Walnut Street, 14th Floor Cincinnati, OH 45202-4089 | DCM Fund |
INDEPENDENT ACCOUNTANTS | |
Russell, Brier & Co. Ten P.O. Square, 6th Floor Boston, MA 02109 | |
DCM Growth Fund c/o Gemini Fund Services, LLC Omaha, NE 68154-1952 www.dcmfunds.com | |
Member NASD/SIPC | |
Not FDIC Insured No Bank Guarantee May Lose Value | March 31, 2005 |
Holdings By Industry | % of Net Assets |
Consumer Discretionary | 16.21% |
Consumer Staples | 6.57 |
Energy | 10.56 |
Financials | 31.73 |
Healthcare | 4.08 |
Industrials | 12.64 |
Short-Term and Other* | 18.21 |
* Other includes an investment in registered investment companies amounting to 7.73% of net assets.