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 811-21872
Mutual Fund Series Trust
(Exact name of registrant as specified in charter)
225 Pictoria Drive, Suite 450, Cincinnati, Ohio 45246
(Address of principal executive offices) (Zip code)
CT CORPORATION SYSTEM
1300 EAST NINTH STREET, CLEVELAND, OH 44114
(Name and address of agent for service)
Registrant's telephone number, including area code: 631-470-2619
Date of fiscal year end: 6/30
Date of reporting period: 12/31/23
ITEM 1. REPORTS TO SHAREHOLDERS.
Semi-Annual Report | December 31, 2023 |
Eventide Balanced Fund | |
(Formerly, Eventide Multi-Asset Income Fund) | |
Eventide Core Bond Fund | |
Eventide Dividend Opportunities Fund | |
Eventide Exponential Technologies Fund | |
Eventide Gilead Fund | |
Eventide Healthcare & Life Sciences Fund | |
Eventide Large Cap Focus Fund | |
Eventide Limited-Term Bond Fund | |
Eventide Asset Management, LLC | |
One International Place, Suite 4210 | |
Boston, MA 02110 | |
1-877-771-3836 |
E V E N T I D E | 1 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Shareholder Letter (Unaudited) |
At Eventide, we constantly remind ourselves and our investors that we have an important job to do. We are responsible for investing in companies that have a tremendous impact on our lives and the lives of others. As we review our performance for long- and short-term periods, let’s remember the most fundamental principles at the core of our investment thesis.
Rather than starting with “how” we invest or “what” we invest in, we begin with “why”. We believe God created us to love Him and our neighbors, and we turn to the Bible to guide us in expressing love in all aspects of life, including investing. Why do we invest? To love God and to love our neighbors.
Our “why” shapes our two core investment principles: avoiding investments in companies we believe are harmful to people and intentionally investing in companies we believe enrich lives. These principles are the immutable bedrock of our firm.
Our principles lead us to begin our approach with probing questions like, “What are the long-term secular themes we believe are beneficial to society?” and “Which themes are detrimental?” We also assess whether a company’s operations and culture promote human dignity or exploit it, as we will not invest in a company whose success comes at the expense of others.
The global demand for Artificial Intelligence (“AI”) was a recurring theme this past year, driving the outsized performance of companies positioned as solutions providers or that have caught early tailwinds from AI’s adoption. We also see beneficial impact in themes of electrification, energy efficiency, supply chain resiliency, and cyber security, each of which puts a categorized name to the solutions we need businesses to provide.
We believe there is a correlation between our principles and investor behavior: companies that are perceived to enrich lives tend to prosper. However, perceptions of value can be misleading. Some businesses may disguise harmful offerings as beneficial or entertaining, as seen in the rising popularity and consequences of online gambling. Interestingly, there are investment strategies that intentionally seek out the defensive and income-producing qualities of companies that prey on addictions like gambling or substance addictions like tobacco and alcohol.
At Eventide, our “why” drives our “how” and our “what”. So if we are loving God and loving our neighbors through the way we invest— the companies we invest in should be helping people flourish rather than exploiting them for profit.
We have big challenges ahead of us, and businesses are positioned to address some of these challenges and enrich the lives of the billions of people on this globe. As investors, you are important in providing capital for these businesses.
Thank you for your trust.
Robin John
CEO, Founding Member
E V E N T I D E | 2 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
This information is for use with concurrent or prior delivery of a fund prospectus, which can be obtained at https://www.eventidefunds.com/prospectus or by calling 1-877-771-EVEN (3836). Investors should consider a fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. Eventide Mutual Funds are distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC, which is not affiliated with Eventide Asset Management, LLC.
5115-NLD-1/29/2024
E V E N T I D E | 3 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund | |
PORTFOLIO REVIEW (Unaudited) | December 31, 2023 |
Average Annual Total Return through December 31, 20231, as compared to its benchmarks:
Since | ||||
Six Month | 1 Year Return | 5 Year Return | Inception 2 | |
Class N | 6.65% | 11.93% | 9.23% | 6.50% |
Class A without load | 6.69% | 11.94% | 9.22% | 6.47% |
Class A with 5.75% load | 0.56% | 5.51% | 7.94% | 5.73% |
Class C | 6.21% | 11.05% | 8.34% | 5.65% |
Class I | 6.76% | 12.16% | 9.42% | 6.70% |
Russell Midcap Total Return Index 3 | 7.54% | 17.23% | 12.68% | 9.15% |
Bloomberg U.S. Intermediate Aggregate Bond Index 4 | 3.51% | 5.18% | 1.14% | 1.34% |
Balanced Blended Index 5 | 5.65% | 11.37% | 7.30% | 5.58% |
1. | The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemptions of Fund shares. Past performance is no guarantee of future results. Performance figures for periods greater than 1 year are annualized. The Fund’s advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit operating expenses (excluding front-end or contingent deferred loads, taxes, leverage interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expenses on securities sold short, underlying fund fees and expenses or extraordinary expenses such as litigation) at 1.07%, 1.82%, 1.02% and 0.82% for Class A shares, Class C shares, Class N shares and Class I shares, respectively, through October 31, 2024. Per the Fund’s most recent prospectus, total annual Fund expenses before waiver are 1.15%, 1.90%, 1.10% and 0.90% for Class A shares, Class C shares, Class N shares and Class I shares, respectively. Class A shares are subject to a maximum sales charge of 5.75% imposed on purchases and have a maximum deferred sales charge of 1.00% on purchases of $1 million or more made without an initial sales charge and applies to shares sold within 18 months. Class C shares are subject to a maximum deferred sales charge of 1.00% on shares sold within 12 months. A $15 fee may be charged for redemptions made by wire. For performance information current to the most recent month-end, please call toll-free 1-877-771-3836. |
2. | Eventide Balanced Fund commenced operations on July 15, 2015. |
3. | The Russell Midcap Total Return Index measures the performance of the mid-cap segment of the US equity universe. It is a subset of the Russell 1000 Index. It includes approximately 800 of the smallest securities based on a combination of their market cap and current index membership, representing approximately 31% of the total market capitalization of the Russell 1000 companies. It is constructed to provide a comprehensive and unbiased barometer for the mid-cap segment. The index is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true mid-cap opportunity set. Investors cannot invest directly in an index. |
4. | The Bloomberg U.S. Intermediate Aggregate Bond Index is a market capitalization-weighted index, meaning the securities in the index are weighted according to the market size of each bond type. Most U.S. traded investment grade bonds are represented. Municipal bonds, and Treasury Inflation-Protected Securities are excluded, due to tax treatment issues. The index includes Treasury securities, government agency bonds, mortgage-backed bonds, corporate bonds, and a small amount of foreign bonds traded in U.S. Investors cannot invest directly in an index. |
5. | The Balanced Blended Index is comprised of 50% of the Russell Midcap Total Return Index and 50% of the Bloomberg U.S. Intermediate Aggregate Bond Index. The Balanced Blended Index rebalances its weightings on a monthly frequency. Investors cannot invest directly in an index. |
E V E N T I D E | 4 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund | |
PORTFOLIO REVIEW (Unaudited) (Continued) | December 31, 2023 |
Holdings by Industry or Asset Class | % of Net Assets | |||
Agency Fixed Rate | 12.5 | % | ||
Electric Utilities | 8.0 | % | ||
Software | 5.6 | % | ||
Electric Equipment | 5.4 | % | ||
Oil & Gas Producers | 5.0 | % | ||
Semiconductors | 5.0 | % | ||
Technology Services | 3.8 | % | ||
Government Owned, No Guarantee | 3.6 | % | ||
Real Estate Investment Trusts | 3.6 | % | ||
Government Sponsored | 3.4 | % | ||
Retail - Discretionary | 3.3 | % | ||
Other / Cash & Cash Equivalents | 40.8 | % | ||
100.0 | % | |||
Please refer to the Schedule of Investments in this semi-annual report for a detailed listing of the Fund’s holdings. |
E V E N T I D E | 5 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Core Bond Fund | |
PORTFOLIO REVIEW (Unaudited) | December 31, 2023 |
Average Annual Total Return through December 31, 20231, as compared to its benchmark:
Since | |||
Six Month | 1 Year Return | Inception 2 | |
Class N | 3.00% | 4.97% | -3.67% |
Class A without load | 3.07% | 4.90% | -3.70% |
Class A with 5.75% load | -2.87% | -1.18% | -5.35% |
Class C | 2.61% | 4.16% | -4.40% |
Class I | 3.10% | 5.05% | -3.48% |
Bloomberg U.S. Aggregate Bond Index 3 | 3.37% | 5.53% | -2.97% |
1. | The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemptions of Fund shares. Past performance is no guarantee of future results. Performance figures for periods greater than 1 year are annualized. The Fund’s advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit operating expenses (excluding front-end or contingent deferred loads, taxes, leverage interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expenses on securities sold short, underlying fund fees and expenses or extraordinary expenses such as litigation) at 0.83%, 1.58%, 0.78% and 0.58% for Class A shares, Class C shares, Class N shares and Class I shares, respectively, through October 31, 2024. Per the Fund’s most recent prospectus, total annual Fund expenses before waiver are 1.06%, 1.81%, 1.01% and 0.81% for Class A shares, Class C shares, Class N shares and Class I shares, respectively. Class A shares are subject to a maximum sales charge of 5.75% imposed on purchases and have a maximum deferred sales charge of 1.00% on purchases of $1 million or more made without an initial sales charge and applies to shares sold within 18 months. Class C shares are subject to a maximum deferred sales charge of 1.00% on shares sold within 12 months. A $15 fee may be charged for redemptions made by wire. For performance information current to the most recent month-end, please call toll-free 1-877-771-3836. |
2. | Eventide Core Bond Fund commenced operations on July 31, 2020. |
3. | The Bloomberg U.S. Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, MBS (agency fixed-rate pass-throughs), ABS and CMBS (agency and non-agency). Investors cannot invest directly in an index. |
Holdings by Industry or Asset Class | % of Net Assets | |||
Agency Fixed Rate | 26.6 | % | ||
Electric Utilities | 12.1 | % | ||
Government Sponsored | 9.4 | % | ||
Real Estate Investment Trusts | 5.9 | % | ||
Government Owned, No Guarantee | 5.6 | % | ||
Software | 3.8 | % | ||
Institutional Financial Services | 3.6 | % | ||
Banking | 3.3 | % | ||
Engineering & Construction | 2.8 | % | ||
Oil & Gas Producers | 2.3 | % | ||
Auto Loan | 1.9 | % | ||
Other / Cash & Cash Equivalents | 22.7 | % | ||
100.0 | % | |||
Please refer to the Schedule of Investments in this semi-annual report for a detailed listing of the Fund’s holdings. |
E V E N T I D E | 6 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Dividend Opportunities Fund | |
PORTFOLIO REVIEW (Unaudited) | December 31, 2023 |
Average Annual Total Return through December 31, 20231, as compared to its benchmarks:
Since | ||||
Six Month | 1 Year Return | 5 Year Return | Inception 2 | |
Class N | 10.24% | 19.44% | 14.29% | 9.73% |
Class A without load | 10.22% | 19.46% | 14.26% | 9.69% |
Class A with 5.75% load | 3.91% | 12.58% | 12.91% | 8.66% |
Class C | 9.83% | 18.56% | 13.38% | 8.87% |
Class I | 10.35% | 19.66% | 14.51% | 9.94% |
Russell Midcap Total Return Index 3 | 7.54% | 17.23% | 12.68% | 9.38% |
Russell Midcap Value Index 4 | 7.11% | 12.71% | 11.16% | 7.48% |
1. | The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemptions of Fund shares. Past performance is no guarantee of future results. Performance figures for periods greater than 1 year are annualized. The Fund’s advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit operating expenses (excluding front-end or contingent deferred loads, taxes, leverage interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expenses on securities sold short, underlying fund fees and expenses or extraordinary expenses such as litigation) at 1.20%, 1.95%, 1.15% and 0.95% for Class A shares, Class C shares, Class N shares and Class I shares, respectively, through October 31, 2024. Per the Fund’s most recent prospectus, total annual Fund expenses before waiver are 1.28%, 2.03%, 1.23% and 1.03% for Class A shares, Class C shares, Class N shares and Class I shares, respectively. Class A shares are subject to a maximum sales charge of 5.75% imposed on purchases and have a maximum deferred sales charge of 1.00% on purchases of $1 million or more made without an initial sales charge and applies to shares sold within 18 months. Class C shares are subject to a maximum deferred sales charge of 1.00% on shares sold within 12 months. A $15 fee may be charged for redemptions made by wire. For performance information current to the most recent month-end, please call toll-free 1-877-771-3836. |
2. | Eventide Dividend Opportunities Fund commenced operations on September 29, 2017. |
3. | The Russell Midcap Total Return Index measures the performance of the mid-cap segment of the US equity universe. It is a subset of the Russell 1000 Index. It includes approximately 800 of the smallest securities based on a combination of their market cap and current index membership, representing approximately 31% of the total market capitalization of the Russell 1000 companies. It is constructed to provide a comprehensive and unbiased barometer for the mid-cap segment. The index is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true mid-cap opportunity set. Investors cannot invest directly in an index. |
4. | The Russell Midcap Value Index measures the performance of the mid-capitalization U.S. equities that exhibit value characteristics. It includes those Russell Midcap Index companies with relatively lower price-to-book ratios, lower I/B/E/S forecast medium term (2 year) growth and lower sales per share historical growth (5 years). Investors cannot invest directly in an index. |
Holdings by Industry or Asset Class | % of Net Assets | |||
Electrical Equipment | 10.5 | % | ||
Software | 9.6 | % | ||
Technology Services | 8.3 | % | ||
Oil & Gas Producers | 7.9 | % | ||
Chemicals | 6.8 | % | ||
Semiconductors | 6.4 | % | ||
Medical Equipment & Devices | 6.0 | % | ||
Electric Utilities | 5.6 | % | ||
Retail - Discretionary | 5.1 | % | ||
Industrial Support Services | 3.9 | % | ||
Insurance | 3.3 | % | ||
Other / Cash & Cash Equivalents | 26.6 | % | ||
100.0 | % | |||
Please refer to the Schedule of Investments in this semi-annual report for a detailed listing of the Fund’s holdings. |
E V E N T I D E | 7 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Exponential Technologies Fund | |
PORTFOLIO REVIEW (Unaudited) | December 31, 2023 |
Average Annual Total Return through December 31, 20231, as compared to its benchmarks:
Since | |||
Six Month | 1 Year Return | Inception 2 | |
Class N | 8.25% | 31.61% | 8.19% |
Class A without load | 8.25% | 31.61% | 8.19% |
Class A with 5.75% load | 2.04% | 24.07% | 6.38% |
Class C | 7.84% | 30.79% | 7.41% |
Class I | 8.36% | 31.96% | 8.43% |
Bloomberg US 2500 Total Return Index 3 | 6.00% | 23.56% | 9.04% |
S&P North American Technology Sector Industry Index 4 | 14.63% | 61.13% | 15.48% |
S&P 500 Total Return Index 5 | 8.04% | 26.29% | 14.88% |
1. | The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemptions of Fund shares. Past performance is no guarantee of future results. Performance figures for periods greater than 1 year are annualized. The Fund’s advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit operating expenses (excluding front-end or contingent deferred loads, taxes, leverage interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expenses on securities sold short, underlying fund fees and expenses or extraordinary expenses such as litigation) at 1.68%, 2.43%, 1.63% and 1.43% for Class A shares, Class C shares, Class N shares and Class I shares, respectively, through October 31, 2024. Per the Fund’s most recent prospectus, total annual Fund expenses before waiver are 1.76%, 2.51%, 1.71% and 1.51% for Class A shares, Class C shares, Class N shares and Class I shares, respectively. Class A shares are subject to a maximum sales charge of 5.75% imposed on purchases and have a maximum deferred sales charge of 1.00% on purchases of $1 million or more made without an initial sales charge and applies to shares sold within 18 months. Class C shares are subject to a maximum deferred sales charge of 1.00% on shares sold within 12 months. A $15 fee may be charged for redemptions made by wire. For performance information current to the most recent month-end, please call toll-free 1-877-771-3836. |
2. | Eventide Exponential Technologies Fund commenced operations on June 30, 2020. |
3. | The Bloomberg US 2500 Index is a float market-cap-weighted benchmark of the lower 2500 in capitalization of the Bloomberg US 3000 Index (B3000). Investors cannot invest directly in an index. |
4. | The S&P North American Technology Sector Industry Index provides investors with a benchmark that represents U.S. securities classified under the GICS® information technology sector as well as the internet & direct marketing retail, interactive home entertainment, and interactive media & services sub-industries. Investors cannot invest directly in an index. |
5. | The S&P 500 Total Return Index, a registered trademark of McGraw-Hill Co., Inc., is a market capitalization-weighted index of 500 widely held common stocks. Investors cannot invest directly in an index. |
Holdings by Industry or Asset Class | % of Net Assets | |||
Software | 56.1 | % | ||
Semiconductors | 14.2 | % | ||
Technology Hardware & Equipment | 10.3 | % | ||
Technology Services | 4.6 | % | ||
Consumer Services | 4.3 | % | ||
Advertising & Marketing | 2.7 | % | ||
Biotech & Pharma | 2.6 | % | ||
Medical Equipment & Devices | 1.6 | % | ||
Asset Management | 0.6 | % | ||
Money Market Funds | 0.0 | % 1 | ||
Other / Cash & Cash Equivalents | 3.0 | % | ||
100.0 | % | |||
1. | Percentage rounds to less than 0.1%. |
Please refer to the Schedule of Investments in this semi-annual report for a detailed listing of the Fund’s holdings.
E V E N T I D E | 8 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Gilead Fund | |
PORTFOLIO REVIEW (Un audited) | December 31, 2023 |
Average Annual Total Return through December 31, 20231, as compared to its benchmarks:
Since | Since | Since | |||||
Six Month | 1 Year Return | 5 Year Return | 10 Year Return | Inception 2 | Inception 3 | Inception 4 | |
Class N | 4.31% | 22.52% | 13.32% | 10.91% | 13.29% | N/A | N/A |
Class A without load | 4.28% | 22.45% | 13.28% | 10.86% | N/A | 14.77% | N/A |
Class A with 5.75% load | -1.72% | 15.41% | 11.95% | 10.20% | N/A | 14.29% | N/A |
Class C | 3.90% | 21.54% | 12.42% | 10.02% | N/A | 13.89% | N/A |
Class I | 4.42% | 22.76% | 13.55% | 11.13% | N/A | N/A | 13.89% |
Russell Midcap Growth Index 5 | 8.56% | 25.87% | 13.81% | 10.57% | 10.68% | 13.34% | 12.86% |
S&P 500 Total Return Index 6 | 8.04% | 26.29% | 15.69% | 12.03% | 11.10% | 13.52% | 13.29% |
1. | The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemptions of Fund shares. Past performance is no guarantee of future results. Performance figures for periods greater than 1 year are annualized. Per the Fund’s most recent prospectus, total annual Fund expenses are 1.43%, 2.18%, 1.38%, and 1.18% for Class A shares, Class C shares, Class N shares and Class I shares, respectively. Class A shares are subject to a maximum sales charge of 5.75% imposed on purchases and have a maximum deferred sales charge of 1.00% on purchases of $1 million or more made without an initial sales charge and applies to shares sold within 18 months. Class C shares are subject to a maximum deferred sales charge of 1.00% on shares sold within 12 months. A $15 fee may be charged for redemptions made by wire. For performance information current to the most recent month-end, please call toll-free 1-877-771-3836. |
2. | Class N commenced operations on July 8, 2008. |
3. | Class A and Class C commenced operations on October 28, 2009. |
4. | Class I commenced operations on February 2, 2010. |
5. | The Russell Midcap Growth Index measures the performance of the mid-cap growth segment of the U.S. equity universe. It includes those Russell Midcap Index companies with higher price-to-book ratios and higher forecasted growth values. Investors cannot invest directly in an index. |
6. | The S&P 500 Total Return Index, a registered trademark of McGraw-Hill Co., Inc., is a market capitalization-weighted index of 500 widely held common stocks. Investors cannot invest directly in an index. |
Holdings by Industry or Asset Class | % of Net Assets | |||
Software | 29.1 | % | ||
Biotech & Pharma | 12.5 | % | ||
Medical Equipment & Devices | 8.4 | % | ||
Semiconductors | 6.7 | % | ||
Technology Hardware & Equipment | 5.0 | % | ||
Electrical Equipment | 4.5 | % | ||
Retail - Discretionary | 4.1 | % | ||
Transportation & Logistics | 4.1 | % | ||
Commercial Support Services | 3.7 | % | ||
Home Construction | 2.5 | % | ||
Wholesale - Discretionary | 2.5 | % | ||
Other / Cash & Cash Equivalents | 16.9 | % | ||
100.0 | % | |||
Please refer to the Schedule of Investments in this semi-annual report for a detailed listing of the Fund’s holdings. |
E V E N T I D E | 9 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Healthcare & Life Sciences Fund | |
PORTFOLIO REVIEW (Unaudited) | December 31, 2023 |
Average Annual Total Return through December 31, 20231, as compared to its benchmarks:
Since | |||||
Six Month | 1 Year Return | 5 Year Return | 10 Year Return | Inception 2 | |
Class N | -1.92% | 10.77% | 9.90% | 11.20% | 15.08% |
Class A without load | -1.91% | 10.76% | 9.85% | 11.13% | 15.01% |
Class A with 5.75% load | -7.54% | 4.39% | 8.55% | 10.48% | 14.39% |
Class C | -2.29% | 9.90% | 9.02% | 10.31% | 14.16% |
Class I | -1.83% | 11.01% | 10.11% | 11.41% | 15.31% |
S&P Biotechnology Select Industry Index 3 | 7.68% | 7.76% | 4.58% | 7.65% | 10.89% |
S&P 500 Total Return Index 4 | 8.04% | 26.29% | 15.69% | 12.03% | 13.79% |
1. | The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemptions of Fund shares. Past performance is no guarantee of future results. Performance figures for periods greater than 1 year are annualized. Per the Fund’s most recent prospectus, total annual Fund expenses, including acquired fund fees, are 1.56%, 2.31%, 1.51% and 1.31% for Class A shares, Class C shares, Class N shares and Class I shares, respectively. Class A shares are subject to a maximum sales charge of 5.75% imposed on purchases and have a maximum deferred sales charge of 1.00% on purchases of $1 million or more made without an initial sales charge and applies to shares sold within 18 months. Class C shares are subject to a maximum deferred sales charge of 1.00% on shares sold within 12 months. A $15 fee may be charged for redemptions made by wire. For performance information current to the most recent month-end, please call toll-free 1-877-771-3836. |
2. | Eventide Healthcare & Life Sciences Fund commenced operations on December 27, 2012. |
3. | The S&P Biotechnology Select Industry Index is designed to measure the performance of narrow GICS® sub-industries and is comprised of stock in the S&P Total Market Index that are classified in the GICS biotechnology sub-industry. Investors cannot invest directly in an index. |
4. | The S&P 500 Total Return Index, a registered trademark of McGraw-Hill Co., Inc., is a market capitalization-weighted index of 500 widely held common stocks. Investors cannot invest directly in an index. |
Holdings by Industry or Asset Class | % of Net Assets | |||
Biotech & Pharma | 78.1 | % | ||
Medical Equipment & Devices | 14.0 | % | ||
Money Market Funds | 0.2 | % | ||
Software | 4.8 | % | ||
Other / Cash & Cash Equivalents | 2.9 | % | ||
100.0 | % | |||
Please refer to the Schedule of Investments in this semi-annual report for a detailed listing of the Fund’s holdings. |
E V E N T I D E | 10 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Large Cap Focus Fund | |
PORTFOLIO REVIEW (Unaudited) | December 31, 2023 |
Average Annual Total Return through December 31, 20231, as compared to its benchmark:
Since | |||
Six Month | 1 Year Return | Inception 2 | |
Class N | 8.48% | 27.57% | 15.46% |
Class A without load | 8.49% | 27.38% | 15.35% |
Class A with 5.75% load | 2.23% | 20.09% | 10.90% |
Class C | 8.01% | 26.49% | 14.57% |
Class I | 8.65% | 27.84% | 15.66% |
S&P 500 Total Return Index 3 | 8.04% | 26.29% | 18.57% |
1. | The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemptions of Fund shares. Past performance is no guarantee of future results. Performance figures for periods greater than 1 year are annualized. The Fund’s advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit operating expenses (excluding front-end or contingent deferred loads, taxes, leverage interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expenses on securities sold short, underlying fund fees and expenses or extraordinary expenses such as litigation) at 1.19%, 1.94%, 1.14% and 0.94% for Class A shares, Class C shares, Class N shares and Class I shares, respectively, through October 31, 2024. Per the Fund’s most recent prospectus, total annual Fund estimated expenses before waiver are 2.90%, 3.65%, 2.85% and 2.65% for Class A shares, Class C shares, Class N shares and Class I shares, respectively. Class A shares are subject to a maximum sales charge of 5.75% imposed on purchases and have a maximum deferred sales charge of 1.00% on purchases of $1 million or more made without an initial sales charge and applies to shares sold within 18 months. Class C shares are subject to a maximum deferred sales charge of 1.00% on shares sold within 12 months. A $15 fee may be charged for redemptions made by wire. For performance information current to the most recent month-end, please call toll-free 1-877-771-3836. |
2. | Eventide Large Cap Focus Fund commenced operations on June 30, 2022. |
3. | The S&P 500 Total Return Index, a registered trademark of McGraw-Hill Co., Inc., is a market capitalization-weighted index of 500 widely held common stocks. Investors cannot invest directly in an index. |
Holdings by Industry or Asset Class | % of Net Assets | |||
Software | 36.0 | % | ||
Semiconductors | 11.3 | % | ||
Chemicals | 9.8 | % | ||
Medical Equipment & Devices | 9.1 | % | ||
Technology Services | 5.9 | % | ||
Retail - Discretionary | 5.5 | % | ||
Money Market Funds | 4.4 | % | ||
Biotech & Pharma | 4.1 | % | ||
Electrical Equipment | 3.4 | % | ||
Advertising & Marketing | 2.9 | % | ||
Other / Cash & Cash Equivalents | 7.6 | % | ||
100.0 | % | |||
Please refer to the Schedule of Investments in this semi-annual report for a detailed listing of the Fund’s holdings. |
E V E N T I D E | 11 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Limited-Term Bond Fund | |
PORTFOLIO REVIEW (Unaudited) | December 31, 2023 |
Average Annual Total Return through December 31, 20231, as compared to its benchmarks:
Since | Since | |||||
Six Month | 1 Year Return | 5 Year Return | 10 Year Return | Inception 2 | Inception 3 | |
Class N | 3.77% | 5.46% | 1.43% | N/A | N/A | 1.56% |
Class A without load | 3.83% | 5.49% | 1.41% | 1.56% | 2.09% | N/A |
Class A with 5.75% load | -2.13% | -0.59% | 0.21% | 0.96% | 1.64% | N/A |
Class C | 3.36% | 4.62% | 0.63% | N/A | N/A | 0.76% |
Class I | 3.87% | 5.63% | 1.65% | 1.49% | 1.81% | N/A |
Bloomberg 1-5 Year Government/Credit Index 4 | 3.66% | 4.89% | 1.54% | 1.43% | 1.52% | 1.66% |
Bloomberg U.S. Intermediate Aggregate Bond Index 5 | 3.51% | 5.18% | 1.14% | 1.62% | 1.87% | 1.31% |
1. | The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemptions of Fund shares. Past performance is no guarantee of future results. Performance figures for periods greater than 1 year are annualized. The Fund’s advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit operating expenses (excluding front-end or contingent deferred loads, taxes, leverage interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expenses on securities sold short, underlying fund fees and expenses or extraordinary expenses such as litigation) at 0.80%, 1.55%, 0.75% and 0.55% for Class A shares, Class C shares, Class N shares and Class I shares, respectively, through October 31, 2024. Per the Fund’s most recent prospectus, total annual Fund expenses before waiver are 0.96%, 1.71%, 0.91% and 0.71% for Class A shares, Class C shares, Class N shares and Class I shares, respectively. Class A shares are subject to a maximum sales charge of 5.75% imposed on purchases and have a maximum deferred sales charge of 1.00% on purchases of $1 million or more made without an initial sales charge and applies to shares sold within 18 months. Class C shares are subject to a maximum deferred sales charge of 1.00% on shares sold within 12 months. A $15 fee may be charged for redemptions made by wire. For performance information current to the most recent month-end, please call toll-free 1-877-771-3836. |
2. | Class A and Class I commenced operations on July 28, 2010. |
3. | Class N and Class C commenced operations on December 14, 2018. |
4. | The Bloomberg 1-5 Year Government/Credit Index measures the performance of U.S. dollar-denominated U.S. Treasury bonds, government related bonds (i.e., U.S. and non-U.S. agencies, sovereign, quasi-sovereign, supranational and local authority debt) and investment grade U.S. corporate bonds that have a remaining maturity of greater than or equal to one year and less than five years. Investors cannot invest directly in an index. |
5. | The Bloomberg U.S. Intermediate Aggregate Bond Index is a market capitalization-weighted index, meaning the securities in the index are weighted according to the market size of each bond type. Most U.S. traded investment grade bonds are represented. Municipal bonds, and Treasury Inflation-Protected Securities are excluded, due to tax treatment issues. The index includes Treasury securities, government agency bonds, mortgage-backed bonds, corporate bonds, and a small amount of foreign bonds traded in U.S. Investors cannot invest directly in an index. |
Holdings by Industry or Asset Class | % of Net Assets | |||
Government Sponsored | 13.6 | % | ||
Electric Utilities | 11.1 | % | ||
Banking | 7.4 | % | ||
Government Owned, No Guarantee | 6.8 | % | ||
Real Estate Investment Trusts | 6.5 | % | ||
Insurance | 4.9 | % | ||
Institutional Financial Services | 3.9 | % | ||
Software | 3.8 | % | ||
Auto Loan | 3.6 | % | ||
Engineering & Construction | 3.1 | % | ||
Other / Cash & Cash Equivalents | 35.3 | % | ||
100.0 | % | |||
Please refer to the Schedule of Investments in this semi-annual report for a detailed listing of the Fund’s holdings. |
E V E N T I D E | 12 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) | December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 47.8% | ||||||||
AUTOMOTIVE - 0.5% | ||||||||
16,704 | Autoliv, Inc. | $ | 1,840,614 | |||||
BANKING - 0.6% | ||||||||
10,830 | Pinnacle Financial Partners, Inc. | 944,593 | ||||||
25,649 | Synovus Financial Corporation | 965,684 | ||||||
1,910,277 | ||||||||
BIOTECH & PHARMA - 0.8% | ||||||||
95,695 | Royalty Pharma plc, Class A | 2,688,073 | ||||||
CHEMICALS - 2.0% | ||||||||
23,000 | Element Solutions, Inc. | 532,220 | ||||||
20,905 | Sherwin-Williams Company (The) | 6,520,270 | ||||||
7,052,490 | ||||||||
DATA CENTER REIT - 0.5% | ||||||||
2,203 | Equinix, Inc. | 1,774,274 | ||||||
DIVERSIFIED INDUSTRIALS - 1.6% | ||||||||
74,041 | Pentair PLC | 5,383,521 | ||||||
ELECTRIC UTILITIES - 2.9% | ||||||||
58,058 | CMS Energy Corporation | 3,371,428 | ||||||
23,193 | Sempra Energy | 1,733,213 | ||||||
35,104 | Southern Company (The) | 2,461,492 | ||||||
60,813 | Vistra Corporation | 2,342,517 | ||||||
9,908,650 | ||||||||
ELECTRICAL EQUIPMENT - 5.4% | ||||||||
157,785 | nVent Electric PLC | 9,323,516 | ||||||
38,624 | Trane Technologies PLC | 9,420,393 | ||||||
18,743,909 | ||||||||
HEALTH CARE FACILITIES & SERVICES - 0.5% | ||||||||
26,163 | Encompass Health Corporation | 1,745,595 |
See accompanying notes to financial statements.
E V E N T I D E | 13 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 47.8% (Continued) | ||||||||
HOME CONSTRUCTION - 1.7% | ||||||||
38,052 | DR Horton, Inc. | $ | 5,783,143 | |||||
INDUSTRIAL REIT - 1.5% | ||||||||
28,597 | EastGroup Properties, Inc. | 5,248,694 | ||||||
INDUSTRIAL SUPPORT SERVICES - 2.0% | ||||||||
35,600 | Ferguson PLC | 6,873,292 | ||||||
INSTITUTIONAL FINANCIAL SERVICES - 1.5% | ||||||||
43,975 | Houlihan Lokey, Inc. | 5,273,042 | ||||||
INSURANCE - 1.8% | ||||||||
27,291 | Arthur J Gallagher & Company | 6,137,201 | ||||||
MACHINERY - 0.5% | ||||||||
7,926 | IDEX Corporation | 1,720,814 | ||||||
MEDICAL EQUIPMENT & DEVICES - 2.1% | ||||||||
41,056 | Bruker Corporation | 3,016,795 | ||||||
19,992 | STERIS plc | 4,395,241 | ||||||
7,412,036 | ||||||||
OIL & GAS PRODUCERS - 4.1% | ||||||||
22,810 | Diamondback Energy, Inc. | 3,537,375 | ||||||
54,730 | Targa Resources Corporation | 4,754,395 | ||||||
165,487 | Williams Companies, Inc. (The) | 5,763,912 | ||||||
14,055,682 | ||||||||
RETAIL - DISCRETIONARY - 2.8% | ||||||||
18,223 | Lithia Motors, Inc. | 6,000,469 | ||||||
16,595 | Lowe’s Companies, Inc. | 3,693,217 | ||||||
9,693,686 | ||||||||
SEMICONDUCTORS - 3.4% | ||||||||
21,940 | Entegris, Inc. | 2,628,851 | ||||||
15,618 | KLA Corporation | 9,078,743 | ||||||
11,707,594 |
See accompanying notes to financial statements.
E V E N T I D E | 14 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||||||
COMMON STOCKS — 47.8% (Continued) | ||||||||||||
SOFTWARE - 4.9% | ||||||||||||
11,529 | Palo Alto Networks, Inc.1 | $ | 3,399,672 | |||||||||
15,791 | Roper Technologies, Inc. | 8,608,779 | ||||||||||
9,201 | Synopsys, Inc.1 | 4,737,687 | ||||||||||
16,746,138 | ||||||||||||
TECHNOLOGY SERVICES - 3.6% | ||||||||||||
39,481 | CDW Corporation | 8,974,821 | ||||||||||
6,341 | MSCI, Inc. | 3,586,787 | ||||||||||
12,561,608 | ||||||||||||
TRANSPORTATION & LOGISTICS - 1.8% | ||||||||||||
14,994 | Old Dominion Freight Line, Inc. | 6,077,518 | ||||||||||
WHOLESALE - CONSUMER STAPLES - 0.6% | ||||||||||||
26,127 | Sysco Corporation | 1,910,668 | ||||||||||
WHOLESALE - DISCRETIONARY - 0.7% | ||||||||||||
6,101 | Pool Corporation | 2,432,530 | ||||||||||
TOTAL COMMON STOCKS (Cost $123,639,212) | 164,681,049 | |||||||||||
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
ASSET BACKED SECURITIES — 1.6% | ||||||||||||
AUTO LOAN — 1.1% | ||||||||||||
3,150,000 | CarMax Auto Owner Trust Series 2020-4 C | 1.3000 | 08/17/26 | 3,016,705 | ||||||||
750,000 | CarMax Auto Owner Trust Series 2021-2 C | 1.3400 | 02/16/27 | 703,285 | ||||||||
3,719,990 | ||||||||||||
OTHER ABS — 0.5% | ||||||||||||
1,700,000 | PFS Financing Corporation Series 2020-G A2 | 0.9700 | 02/15/26 | 1,690,050 | ||||||||
TOTAL ASSET BACKED SECURITIES (Cost $5,615,345) | 5,410,040 |
See accompanying notes to financial statements.
E V E N T I D E | 15 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||||
COLLATERALIZED MORTGAGE OBLIGATIONS — 0.5% | ||||||||||||||
CMBS — 0.5% | ||||||||||||||
1,000,000 | Freddie Mac Multifamily Structured Pass Through Certificates Series KG01 A10 | 2.9390 | 04/25/29 | $ | 932,241 | |||||||||
1,000,000 | Freddie Mac Multifamily Structured Pass Through Certificates Series KG02 A2 | 2.4120 | 08/25/29 | 907,780 | ||||||||||
1,840,021 | ||||||||||||||
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $2,035,005) | 1,840,021 | |||||||||||||
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||||
CONVERTIBLE BONDS — 0.9% | ||||||||||||||
BIOTECH & PHARMA — 0.3% | ||||||||||||||
950,000 | Mirum Pharmaceuticals, Inc.2 | 4.0000 | 05/01/29 | 1,159,000 | ||||||||||
TECHNOLOGY HARDWARE & EQUIPMENT — 0.6% | ||||||||||||||
2,100,000 | Xometry, Inc. | 1.0000 | 02/01/27 | 1,983,447 | ||||||||||
TOTAL CONVERTIBLE BONDS (Cost $2,662,272) | 3,142,447 | |||||||||||||
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 25.0% | ||||||||||||||
ASSET MANAGEMENT — 1.1% | ||||||||||||||
3,800,000 | Vision Fund International3,4,5,6 | 3.7250 | 02/24/25 | 3,800,000 | ||||||||||
AUTOMOTIVE — 0.5% | ||||||||||||||
2,025,000 | Dana, Inc. | 4.2500 | 09/01/30 | 1,797,404 | ||||||||||
BANKING — 2.4% | ||||||||||||||
3,725,000 | Bank of America Corporation Series N7 | TSFR3M + 1.132% | 2.4560 | 10/22/25 | 3,628,464 | |||||||||
3,200,000 | JPMorgan Chase & Company7 | SOFRRATE + 1.330% | 6.0700 | 10/22/27 | 3,294,723 | |||||||||
1,865,000 | Royal Bank of Canada | 1.1500 | 07/14/26 | 1,707,728 | ||||||||||
8,630,915 | ||||||||||||||
CONSTRUCTION MATERIALS — 0.3% | ||||||||||||||
1,300,000 | Advanced Drainage Systems, Inc.2 | 5.0000 | 09/30/27 | 1,255,780 |
See accompanying notes to financial statements.
E V E N T I D E | 16 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 25.0% (Continued) | ||||||||||||||
CONTAINERS & PACKAGING — 0.3% | ||||||||||||||
1,000,000 | TriMas Corporation2 | 4.1250 | 04/15/29 | $ | 899,688 | |||||||||
ELEC & GAS MARKETING & TRADING — 0.6% | ||||||||||||||
2,250,000 | Southern Power Company | 0.9000 | 01/15/26 | 2,074,642 | ||||||||||
ELECTRIC UTILITIES — 5.1% | ||||||||||||||
1,235,000 | AES Corporation (The) | 1.3750 | 01/15/26 | 1,143,634 | ||||||||||
1,000,000 | Avangrid, Inc. | 3.1500 | 12/01/24 | 977,291 | ||||||||||
1,376,000 | CenterPoint Energy, Inc.7 | SOFRRATE + 0.650% | 5.9960 | 05/13/24 | 1,376,019 | |||||||||
2,650,000 | Dominion Energy, Inc. | 2.2500 | 08/15/31 | 2,199,618 | ||||||||||
1,000,000 | Duke Energy Florida, LLC | 2.5000 | 12/01/29 | 893,616 | ||||||||||
1,225,000 | MidAmerican Energy Company | 3.1000 | 05/01/27 | 1,172,979 | ||||||||||
3,475,000 | National Rural Utilities Cooperative Finance Corporation | 1.3500 | 03/15/31 | 2,734,527 | ||||||||||
3,850,000 | NextEra Energy Capital Holdings, Inc. | 1.9000 | 06/15/28 | 3,421,082 | ||||||||||
1,250,000 | Tucson Electric Power Company | 1.5000 | 08/01/30 | 1,015,543 | ||||||||||
3,303,000 | Wisconsin Power and Light Company | 1.9500 | 09/16/31 | 2,695,124 | ||||||||||
17,629,433 | ||||||||||||||
ENGINEERING & CONSTRUCTION — 1.2% | ||||||||||||||
1,435,000 | Installed Building Products, Inc.2 | 5.7500 | 02/01/28 | 1,399,864 | ||||||||||
2,000,000 | MasTec, Inc.2 | 4.5000 | 08/15/28 | 1,882,208 | ||||||||||
1,250,000 | Quanta Services, Inc. | 2.9000 | 10/01/30 | 1,100,589 | ||||||||||
4,382,661 | ||||||||||||||
FORESTRY, PAPER & WOOD PRODUCTS — 0.3% | ||||||||||||||
1,000,000 | Louisiana-Pacific Corporation2 | 3.6250 | 03/15/29 | 896,908 | ||||||||||
HOME & OFFICE PRODUCTS — 0.5% | ||||||||||||||
1,910,000 | Tempur Sealy International, Inc.2 | 4.0000 | 04/15/29 | 1,726,753 | ||||||||||
HOME CONSTRUCTION — 0.8% | ||||||||||||||
1,750,000 | M/I Homes, Inc. | 3.9500 | 02/15/30 | 1,559,251 |
See accompanying notes to financial statements.
E V E N T I D E | 17 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 25.0% (Continued) | ||||||||||||||
HOME CONSTRUCTION — 0.8% (Continued) | ||||||||||||||
1,000,000 | Patrick Industries, Inc.2 | 7.5000 | 10/15/27 | $ | 1,005,365 | |||||||||
2,564,616 | ||||||||||||||
INDUSTRIAL SUPPORT SERVICES — 0.5% | ||||||||||||||
1,700,000 | United Rentals North America, Inc. | 4.8750 | 01/15/28 | 1,659,256 | ||||||||||
INSTITUTIONAL FINANCIAL SERVICES — 1.4% | ||||||||||||||
3,875,000 | Morgan Stanley7 | SOFRRATE + 0.745% | 0.8640 | 10/21/25 | 3,723,327 | |||||||||
1,000,000 | Nasdaq, Inc. | 5.3500 | 06/28/28 | 1,030,126 | ||||||||||
4,753,453 | ||||||||||||||
INSURANCE — 0.8% | ||||||||||||||
1,015,000 | Aflac, Inc. | 1.1250 | 03/15/26 | 937,720 | ||||||||||
2,000,000 | Pacific Life Global Funding II2 | 1.3750 | 04/14/26 | 1,849,781 | ||||||||||
2,787,501 | ||||||||||||||
MACHINERY — 1.0% | ||||||||||||||
1,750,000 | Mueller Water Products, Inc.2 | 4.0000 | 06/15/29 | 1,596,191 | ||||||||||
1,875,000 | Xylem, Inc. | 1.9500 | 01/30/28 | 1,697,110 | ||||||||||
3,293,301 | ||||||||||||||
OIL & GAS PRODUCERS — 0.9% | ||||||||||||||
1,750,000 | Cheniere Energy Partners, L.P. | 4.5000 | 10/01/29 | 1,672,543 | ||||||||||
1,500,000 | Diamondback Energy, Inc. | 3.5000 | 12/01/29 | 1,395,722 | ||||||||||
3,068,265 | ||||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 3.6% | ||||||||||||||
1,675,000 | Alexandria Real Estate Equities, Inc. | 3.8000 | 04/15/26 | 1,631,681 | ||||||||||
1,500,000 | American Tower Corporation | 4.0500 | 03/15/32 | 1,408,106 | ||||||||||
2,850,000 | AvalonBay Communities, Inc. | 2.0500 | 01/15/32 | 2,393,843 | ||||||||||
1,750,000 | HAT Holdings I, LLC/HAT Holdings II, LLC2 | 3.3750 | 06/15/26 | 1,645,851 | ||||||||||
1,985,000 | Prologis, L.P. | 1.2500 | 10/15/30 | 1,607,970 | ||||||||||
2,210,000 | Public Storage7 | SOFRRATE + 0.470% | 5.8200 | 04/23/24 | 2,209,971 | |||||||||
1,500,000 | Welltower, Inc. | 2.7000 | 02/15/27 | 1,408,596 | ||||||||||
12,306,018 | ||||||||||||||
RETAIL - DISCRETIONARY — 0.5% | ||||||||||||||
1,000,000 | Asbury Automotive Group, Inc. | 4.5000 | 03/01/28 | 950,604 | ||||||||||
1,000,000 | Builders FirstSource, Inc.2 | 4.2500 | 02/01/32 | 903,429 | ||||||||||
1,854,033 |
See accompanying notes to financial statements.
E V E N T I D E | 18 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 25.0% (Continued) | ||||||||||||||
SEMICONDUCTORS — 1.6% | ||||||||||||||
1,185,000 | Amkor Technology, Inc.2 | 6.6250 | 09/15/27 | $ | 1,200,907 | |||||||||
2,800,000 | NXP BV/NXP Funding, LLC/NXP USA, Inc. | 2.5000 | 05/11/31 | 2,382,527 | ||||||||||
1,925,000 | Synaptics, Inc.2 | 4.0000 | 06/15/29 | 1,729,307 | ||||||||||
5,312,741 | ||||||||||||||
SOFTWARE — 0.7% | ||||||||||||||
1,250,000 | Roper Technologies, Inc. | 4.2000 | 09/15/28 | 1,230,586 | ||||||||||
1,250,000 | Workday, Inc. | 3.8000 | 04/01/32 | 1,165,952 | ||||||||||
2,396,538 | ||||||||||||||
TECHNOLOGY SERVICES — 0.2% | ||||||||||||||
750,000 | Visa, Inc. | 0.7500 | 08/15/27 | 664,317 | ||||||||||
WHOLESALE - CONSUMER STAPLES — 0.7% | ||||||||||||||
2,775,000 | Sysco Corporation | 2.4000 | 02/15/30 | 2,453,052 | ||||||||||
TOTAL CORPORATE BONDS (Cost $93,309,765) | 86,207,275 | |||||||||||||
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||||
MUNICIPAL BONDS — 2.2% | ||||||||||||||
COMBINED UTILITIES — 0.4% | ||||||||||||||
1,475,000 | City of Tacoma, WA Electric System Revenue | 5.6410 | 01/01/27 | 1,518,187 | ||||||||||
COUNTY — 0.0%8 | ||||||||||||||
150,000 | City & County of Honolulu, HI | 2.5180 | 10/01/26 | 142,604 | ||||||||||
MISCELLANEOUS TAX — 0.6% | ||||||||||||||
2,050,000 | Commonwealth of Massachusetts | 3.6390 | 07/15/24 | 2,033,458 | ||||||||||
MULTI-FAMILY HOUSING — 0.2% | ||||||||||||||
500,000 | New York City Housing Development Corporation | 1.3500 | 11/01/26 | 465,461 | ||||||||||
100,000 | New York State Housing Finance Agency | 0.6500 | 05/01/25 | 95,201 | ||||||||||
560,662 |
See accompanying notes to financial statements.
E V E N T I D E | 19 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
MUNICIPAL BONDS — 2.2% (Continued) | ||||||||||||
RESOURCE RECOVERY — 0.0%8 | ||||||||||||
100,000 | City of Napa, CA Solid Waste Revenue | 2.3300 | 08/01/25 | $ | 96,306 | |||||||
SINGLE-FAMILY HOUSING — 0.1% | ||||||||||||
505,000 | Texas Department of Housing & Community Affairs | 0.4500 | 01/01/24 | 505,000 | ||||||||
STATE — 0.3% | ||||||||||||
200,000 | State of Oregon | 0.8950 | 05/01/25 | 190,183 | ||||||||
250,000 | State of Oregon | 1.1850 | 05/01/26 | 232,370 | ||||||||
500,000 | State of Oregon | 1.3150 | 05/01/27 | 454,493 | ||||||||
877,046 | ||||||||||||
WATER AND SEWER — 0.6% | ||||||||||||
2,000,000 | City of Aurora, CO Water Revenue | 2.0980 | 08/01/34 | 1,586,872 | ||||||||
200,000 | City of Los Angeles, CA Wastewater System Revenue | 3.6940 | 06/01/32 | 186,730 | ||||||||
1,773,602 | ||||||||||||
TOTAL MUNICIPAL BONDS (Cost $8,240,906) | 7,506,865 | |||||||||||
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
U.S. GOVERNMENT & AGENCIES — 20.4% | ||||||||||||
AGENCY FIXED RATE — 12.5% | ||||||||||||
204,683 | Fannie Mae Pool MA2915 | 3.0000 | 02/01/27 | 199,456 | ||||||||
842,382 | Fannie Mae Pool MA4263 | 1.5000 | 02/01/31 | 777,227 | ||||||||
885,168 | Fannie Mae Pool MA4284 | 1.5000 | 03/01/31 | 816,790 | ||||||||
623,865 | Fannie Mae Pool FM3333 | 2.0000 | 06/01/35 | 564,057 | ||||||||
463,312 | Fannie Mae Pool MA4095 | 2.0000 | 08/01/35 | 418,897 | ||||||||
427,719 | Fannie Mae Pool BM5466 | 2.5000 | 10/01/43 | 377,132 | ||||||||
400,197 | Fannie Mae Pool BM5975 | 3.0000 | 12/01/45 | 368,584 | ||||||||
354,672 | Fannie Mae Pool MA2806 | 3.0000 | 11/01/46 | 322,828 | ||||||||
369,806 | Fannie Mae Pool BM5976 | 3.0000 | 02/01/47 | 340,626 | ||||||||
891,404 | Fannie Mae Pool BP5878 | 2.5000 | 06/01/50 | 764,873 | ||||||||
1,292,864 | Fannie Mae Pool MA4096 | 2.5000 | 08/01/50 | 1,108,945 | ||||||||
1,485,074 | Fannie Mae Pool MA4306 | 2.5000 | 04/01/51 | 1,272,883 | ||||||||
1,494,694 | Fannie Mae Pool MA4326 | 2.5000 | 05/01/51 | 1,276,884 | ||||||||
1,697,024 | Fannie Mae Pool MA4327 | 3.0000 | 05/01/51 | 1,506,399 |
See accompanying notes to financial statements.
E V E N T I D E | 20 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
U.S. GOVERNMENT & AGENCIES — 20.4% (Continued) | ||||||||||||
AGENCY FIXED RATE — 12.5% (Continued) | ||||||||||||
1,795,636 | Fannie Mae Pool MA4356 | 2.5000 | 06/01/51 | $ | 1,531,006 | |||||||
2,181,139 | Fannie Mae Pool MA4379 | 2.5000 | 07/01/51 | 1,862,164 | ||||||||
3,481,216 | Fannie Mae Pool CB2661 | 3.0000 | 01/01/52 | 3,112,412 | ||||||||
3,359,255 | Fannie Mae Pool MA4600 | 3.5000 | 05/01/52 | 3,087,564 | ||||||||
3,148,600 | Fannie Mae Pool MA4625 | 3.5000 | 06/01/52 | 2,893,951 | ||||||||
2,539,748 | Fannie Mae Pool MA4655 | 4.0000 | 07/01/52 | 2,408,003 | ||||||||
3,197,733 | Fannie Mae Pool MA4916 | 4.0000 | 02/01/53 | 3,029,327 | ||||||||
705,423 | Freddie Mac Pool ZS9163 | 3.0000 | 09/01/33 | 667,701 | ||||||||
635,429 | Freddie Mac Pool ZS9382 | 3.0000 | 09/01/43 | 585,226 | ||||||||
596,946 | Freddie Mac Pool SD8089 | 2.5000 | 07/01/50 | 512,808 | ||||||||
1,302,717 | Freddie Mac Pool SD8122 | 2.5000 | 01/01/51 | 1,115,596 | ||||||||
1,822,971 | Freddie Mac Pool RA5696 | 2.5000 | 08/01/51 | 1,554,770 | ||||||||
2,952,692 | Freddie Mac Pool SD8214 | 3.5000 | 05/01/52 | 2,713,692 | ||||||||
2,831,864 | Freddie Mac Pool SD8238 | 4.5000 | 08/01/52 | 2,750,030 | ||||||||
3,139,973 | Freddie Mac Pool SD8288 | 5.0000 | 01/01/53 | 3,112,188 | ||||||||
1,938,121 | Freddie Mac Pool SD3026 | 5.0000 | 06/01/53 | 1,922,145 | ||||||||
331,546 | Ginnie Mae II Pool MA3375 | 3.0000 | 01/20/46 | 305,587 | ||||||||
43,279,751 | ||||||||||||
AGENCY MBS OTHER — 0.9% | ||||||||||||
3,068,278 | Fannie Mae Pool MA4805 | 4.5000 | 11/01/52 | 2,979,613 | ||||||||
GOVERNMENT OWNED, NO GUARANTEE — 3.6% | ||||||||||||
1,500,000 | Federal Home Loan Mortgage Corporation | 5.0000 | 09/18/28 | 1,503,369 | ||||||||
2,500,000 | Federal Home Loan Mortgage Corporation | 6.2500 | 07/15/32 | 2,905,500 | ||||||||
2,900,000 | Federal National Mortgage Association | 6.2500 | 05/15/29 | 3,222,332 | ||||||||
4,350,000 | Federal National Mortgage Association | 0.8750 | 08/05/30 | 3,552,954 | ||||||||
1,000,000 | Federal National Mortgage Association | 5.6250 | 07/15/37 | 1,135,386 | ||||||||
12,319,541 | ||||||||||||
GOVERNMENT SPONSORED — 3.4% | ||||||||||||
1,500,000 | Federal Farm Credit Banks Funding Corporation | 4.8750 | 11/01/28 | 1,567,385 | ||||||||
2,750,000 | Federal Farm Credit Banks Funding Corporation | 4.6250 | 04/05/29 | 2,839,342 | ||||||||
1,000,000 | Federal Farm Credit Banks Funding Corporation | 3.1250 | 04/26/30 | 939,956 | ||||||||
1,250,000 | Federal Farm Credit Banks Funding Corporation | 1.7300 | 09/22/31 | 1,035,277 | ||||||||
2,000,000 | Federal Farm Credit Banks Funding Corporation | 4.3750 | 03/03/33 | 2,015,556 |
See accompanying notes to financial statements.
E V E N T I D E | 21 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
U.S. GOVERNMENT & AGENCIES — 20.4% (Continued) | ||||||||||||
GOVERNMENT SPONSORED — 3.4% (Continued) | ||||||||||||
2,000,000 | Federal Home Loan Mortgage Corporation | 5.2000 | 05/17/24 | $ | 1,998,462 | |||||||
1,350,000 | Federal Home Loan Mortgage Corporation | 5.2500 | 12/09/24 | 1,349,297 | ||||||||
11,745,275 | ||||||||||||
TOTAL U.S. GOVERNMENT & AGENCIES (Cost $74,972,462) | 70,324,180 | |||||||||||
Shares | Fair Value | |||||||||||
SHORT-TERM INVESTMENTS — 0.0%8 | ||||||||||||
MONEY MARKET FUNDS - 0.0% 8 | ||||||||||||
108,428 | Fidelity Government Portfolio, Class I, 5.24% (Cost $108,428)9 | 108,428 | ||||||||||
TOTAL INVESTMENTS - 98.4% (Cost $310,583,395) | $ | 339,220,305 | ||||||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 1.6% | 5,547,653 | |||||||||||
NET ASSETS - 100.0% | $ | 344,767,958 |
LLC | - Limited Liability Company |
L.P. | - Limited Partnership |
MSCI | - Morgan Stanley Capital International |
PLC | - Public Limited Company |
REIT | - Real Estate Investment Trust |
SOFRRATE | United States SOFR Secured Overnight Financing Rate |
TSFR3M | CME Term SOFR 3 Month |
1. | Non-income producing security. |
2. | Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2023 the total market value of 144A securities is $20,841,082 or 6.0% of net assets. |
3. | Illiquid security. The total fair value of these securities as of December 31, 2023 was $3,800,000, representing 1.1% of net assets. |
4. | The value of this security has been determined in good faith under policies of the Board of Trustees. |
5. | Private investment. |
6. | Restricted security. |
7. | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. |
8. | Percentage rounds to less than 0.1%. |
9. | Rate disclosed is the seven day effective yield as of December 31, 2023. |
See accompanying notes to financial statements.
E V E N T I D E | 22 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Core Bond Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) | December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||||
ASSET BACKED SECURITIES — 3.1% | ||||||||||||||
AUTO LOAN — 1.9% | ||||||||||||||
1,375,000 | CarMax Auto Owner Trust Series 2020-4 C | 1.3000 | 08/17/26 | $ | 1,316,816 | |||||||||
1,000,000 | CarMax Auto Owner Trust Series 2021-2 C | 1.3400 | 02/16/27 | 937,713 | ||||||||||
2,254,529 | ||||||||||||||
OTHER ABS — 1.2% | ||||||||||||||
1,350,000 | PFS Financing Corporation Series 2020-G A1 | 0.9700 | 02/15/26 | 1,342,099 | ||||||||||
TOTAL ASSET BACKED SECURITIES (Cost $3,734,542) | 3,596,628 | |||||||||||||
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 45.7% | ||||||||||||||
AUTOMOTIVE — 0.4% | ||||||||||||||
500,000 | Dana, Inc. | 4.2500 | 09/01/30 | 443,804 | ||||||||||
BANKING — 3.3% | ||||||||||||||
1,700,000 | Bank of America Corporation Series N2 | TSFR3M + 1.132% | 2.4560 | 10/22/25 | 1,655,944 | |||||||||
2,110,000 | JPMorgan Chase & Company2 | SOFRRATE + 1.330% | 6.0700 | 10/22/27 | 2,172,458 | |||||||||
3,828,402 | ||||||||||||||
BIOTECH & PHARMA — 1.5% | ||||||||||||||
1,750,000 | Zoetis, Inc. | 3.9000 | 08/20/28 | 1,714,683 | ||||||||||
ELEC & GAS MARKETING & TRADING — 0.4% | ||||||||||||||
500,000 | Consolidated Edison Company of New York, Inc. | 3.9500 | 04/01/50 | 419,879 | ||||||||||
ELECTRIC UTILITIES — 12.1% | ||||||||||||||
1,500,000 | Ameren Illinois Company | 5.9000 | 12/01/52 | 1,687,497 | ||||||||||
2,000,000 | DTE Electric Company | 3.9500 | 03/01/49 | 1,687,425 | ||||||||||
2,000,000 | Duke Energy Florida, LLC | 2.5000 | 12/01/29 | 1,787,231 | ||||||||||
650,000 | Interstate Power and Light Company | 3.5000 | 09/30/49 | 485,124 | ||||||||||
1,750,000 | MidAmerican Energy Company | 4.2500 | 07/15/49 | 1,533,635 | ||||||||||
1,400,000 | National Rural Utilities Cooperative Finance Corporation | 1.3500 | 03/15/31 | 1,101,680 | ||||||||||
675,000 | NextEra Energy Capital Holdings, Inc. | 5.0500 | 02/28/33 | 678,051 | ||||||||||
500,000 | NextEra Energy Capital Holdings, Inc.2 | US0003M + 2.409% | 4.8000 | 12/01/77 | 433,696 | |||||||||
2,425,000 | Northern States Power Company | 2.9000 | 03/01/50 | 1,710,046 |
See accompanying notes to financial statements.
E V E N T I D E | 23 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Core Bond Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 45.7% (Continued) | ||||||||||||||
ELECTRIC UTILITIES — 12.1% (Continued) | ||||||||||||||
1,450,000 | Public Service Company of Oklahoma | 3.1500 | 08/15/51 | $ | 999,473 | |||||||||
2,450,000 | Wisconsin Public Service Corporation | 2.8500 | 12/01/51 | 1,630,161 | ||||||||||
13,734,019 | ||||||||||||||
ELECTRICAL EQUIPMENT — 1.5% | ||||||||||||||
1,500,000 | Lennox International, Inc. | 5.5000 | 09/15/28 | 1,542,674 | ||||||||||
ENGINEERING & CONSTRUCTION — 2.8% | ||||||||||||||
850,000 | Installed Building Products, Inc.1 | 5.7500 | 02/01/28 | 829,188 | ||||||||||
750,000 | MasTec, Inc.1 | 4.5000 | 08/15/28 | 705,828 | ||||||||||
1,900,000 | Quanta Services, Inc. | 2.9000 | 10/01/30 | 1,672,895 | ||||||||||
3,207,911 | ||||||||||||||
HOME CONSTRUCTION — 0.5% | ||||||||||||||
625,000 | M/I Homes, Inc. | 3.9500 | 02/15/30 | 556,874 | ||||||||||
INDUSTRIAL SUPPORT SERVICES — 0.5% | ||||||||||||||
625,000 | United Rentals North America, Inc. | 4.8750 | 01/15/28 | 610,021 | ||||||||||
INSTITUTIONAL FINANCIAL SERVICES — 3.6% | ||||||||||||||
2,225,000 | Morgan Stanley2 | SOFRRATE + 0.745% | 0.8640 | 10/21/25 | 2,137,910 | |||||||||
1,900,000 | Nasdaq, Inc. | 5.3500 | 06/28/28 | 1,957,239 | ||||||||||
4,095,149 | ||||||||||||||
INSURANCE — 0.4% | ||||||||||||||
500,000 | Aflac, Inc. | 1.1250 | 03/15/26 | 461,931 | ||||||||||
MACHINERY — 1.5% | ||||||||||||||
650,000 | Mueller Water Products, Inc.1 | 4.0000 | 06/15/29 | 592,871 | ||||||||||
1,250,000 | Xylem, Inc./NY | 1.9500 | 01/30/28 | 1,131,407 | ||||||||||
1,724,278 | ||||||||||||||
OIL & GAS PRODUCERS — 2.3% | ||||||||||||||
1,150,000 | Cheniere Energy Partners, L.P. | 4.5000 | 10/01/29 | 1,099,100 | ||||||||||
1,650,000 | Diamondback Energy, Inc. | 3.5000 | 12/01/29 | 1,535,294 | ||||||||||
2,634,394 |
See accompanying notes to financial statements.
E V E N T I D E | 24 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Core Bond Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 45.7% (Continued) | ||||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 5.9% | ||||||||||||||
1,600,000 | Alexandria Real Estate Equities, Inc. | 4.7500 | 04/15/35 | $ | 1,556,599 | |||||||||
1,500,000 | American Tower Corporation | 4.0500 | 03/15/32 | 1,408,106 | ||||||||||
500,000 | AvalonBay Communities, Inc. | 2.0500 | 01/15/32 | 419,973 | ||||||||||
1,750,000 | Equinix, Inc. | 3.9000 | 04/15/32 | 1,629,102 | ||||||||||
375,000 | HAT Holdings I, LLC/HAT Holdings II, LLC1 | 3.3750 | 06/15/26 | 352,682 | ||||||||||
1,500,000 | Welltower OP, LLC | 3.8500 | 06/15/32 | 1,390,512 | ||||||||||
6,756,974 | ||||||||||||||
RETAIL - DISCRETIONARY — 0.3% | ||||||||||||||
375,000 | Builders FirstSource, Inc.1 | 4.2500 | 02/01/32 | 338,786 | ||||||||||
SEMICONDUCTORS — 1.7% | ||||||||||||||
1,700,000 | NXP BV/NXP Funding, LLC/NXP USA, Inc. | 2.5000 | 05/11/31 | 1,446,533 | ||||||||||
600,000 | Synaptics, Inc.1 | 4.0000 | 06/15/29 | 539,005 | ||||||||||
1,985,538 | ||||||||||||||
SOFTWARE — 3.8% | ||||||||||||||
1,000,000 | Intuit, Inc. | 5.1250 | 09/15/28 | 1,035,109 | ||||||||||
2,000,000 | Roper Technologies, Inc. | 4.2000 | 09/15/28 | 1,968,937 | ||||||||||
1,250,000 | Workday, Inc. | 3.7000 | 04/01/29 | 1,201,990 | ||||||||||
375,000 | Workday, Inc. | 3.8000 | 04/01/32 | 349,786 | ||||||||||
4,555,822 | ||||||||||||||
TECHNOLOGY SERVICES — 1.6% | ||||||||||||||
1,750,000 | Verisk Analytics, Inc. | 5.7500 | 04/01/33 | 1,881,596 | ||||||||||
WHOLESALE - CONSUMER STAPLES — 1.4% | ||||||||||||||
1,875,000 | Sysco Corporation | 2.4000 | 02/15/30 | 1,657,468 | ||||||||||
TOTAL CORPORATE BONDS (Cost $54,678,145) | 52,150,203 | |||||||||||||
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||||
MUNICIPAL BONDS — 4.9% | ||||||||||||||
COMBINED UTILITIES — 0.9% | ||||||||||||||
1,000,000 | City of Tacoma, WA Electric System Revenue | 5.6410 | 01/01/27 | 1,029,279 |
See accompanying notes to financial statements.
E V E N T I D E | 25 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Core Bond Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
MUNICIPAL BONDS — 4.9% (Continued) | ||||||||||||
MISCELLANEOUS TAX — 0.8% | ||||||||||||
900,000 | Commonwealth of Massachusetts | 3.6390 | 07/15/24 | $ | 892,738 | |||||||
MULTI-FAMILY HOUSING — 0.7% | ||||||||||||
250,000 | Maine State Housing Authority | 0.4000 | 11/15/24 | 243,627 | ||||||||
500,000 | New York City Housing Development Corporation | 0.6500 | 11/01/25 | 468,689 | ||||||||
100,000 | New York State Housing Finance Agency | 0.7000 | 11/01/25 | 93,369 | ||||||||
805,685 | ||||||||||||
SINGLE-FAMILY HOUSING — 0.7% | ||||||||||||
406,588 | Minnesota Housing Finance Agency | 1.5800 | 02/01/51 | 307,406 | ||||||||
480,000 | Texas Department of Housing & Community Affairs | 0.5000 | 07/01/24 | 473,063 | ||||||||
780,469 | ||||||||||||
STATE — 0.9% | ||||||||||||
1,250,000 | State of Oregon | 2.3370 | 11/01/33 | 1,028,630 | ||||||||
WATER AND SEWER — 0.9% | ||||||||||||
1,500,000 | City of Aurora, CO Water Revenue | 2.6260 | 08/01/41 | 1,122,300 | ||||||||
TOTAL MUNICIPAL BONDS (Cost $6,527,589) | 5,659,101 | |||||||||||
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
U.S. GOVERNMENT & AGENCIES — 43.4% | ||||||||||||
AGENCY FIXED RATE — 26.6% | ||||||||||||
842,367 | Fannie Mae Pool BO9355 | 3.0000 | 03/01/50 | 753,535 | ||||||||
1,872,860 | Fannie Mae Pool MA4120 | 2.5000 | 09/01/50 | 1,607,016 | ||||||||
724,656 | Fannie Mae Pool FM4720 | 3.0000 | 10/01/50 | 648,237 | ||||||||
1,893,509 | Fannie Mae Pool CA8256 | 2.5000 | 12/01/50 | 1,617,098 | ||||||||
683,822 | Fannie Mae Pool MA4307 | 3.0000 | 04/01/51 | 607,795 | ||||||||
1,995,238 | Fannie Mae Pool CB0199 | 3.0000 | 04/01/51 | 1,770,635 | ||||||||
1,633,871 | Fannie Mae Pool MA4379 | 2.5000 | 07/01/51 | 1,394,930 | ||||||||
907,907 | Fannie Mae Pool MA4600 | 3.5000 | 05/01/52 | 834,477 | ||||||||
2,184,255 | Fannie Mae Pool MA4625 | 3.5000 | 06/01/52 | 2,007,599 | ||||||||
1,739,230 | Fannie Mae Pool MA4700 | 4.0000 | 08/01/52 | 1,647,903 | ||||||||
1,240,911 | Fannie Mae Pool MA4916 | 4.0000 | 02/01/53 | 1,175,560 |
See accompanying notes to financial statements.
E V E N T I D E | 26 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Core Bond Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
U.S. GOVERNMENT & AGENCIES — 43.4% (Continued) | ||||||||||||
AGENCY FIXED RATE — 26.6% (Continued) | ||||||||||||
996,927 | Freddie Mac Pool SD8090 | 2.0000 | 09/01/50 | $ | 820,962 | |||||||
1,726,168 | Freddie Mac Pool SD8128 | 2.0000 | 02/01/51 | 1,418,793 | ||||||||
1,044,624 | Freddie Mac Pool RA5696 | 2.5000 | 08/01/51 | 890,936 | ||||||||
1,585,128 | Freddie Mac Pool SD8206 | 3.0000 | 04/01/52 | 1,405,480 | ||||||||
2,366,899 | Freddie Mac Pool RA7587 | 3.5000 | 06/01/52 | 2,183,057 | ||||||||
2,099,298 | Freddie Mac Pool SD8237 | 4.0000 | 08/01/52 | 1,989,051 | ||||||||
2,169,573 | Freddie Mac Pool SD8238 | 4.5000 | 08/01/52 | 2,106,878 | ||||||||
2,148,402 | Freddie Mac Pool SD8288 | 5.0000 | 01/01/53 | 2,129,391 | ||||||||
2,131,934 | Freddie Mac Pool SD3026 | 5.0000 | 06/01/53 | 2,114,359 | ||||||||
1,173,556 | Freddie Mac Pool SD8332 | 6.0000 | 06/01/53 | 1,192,953 | ||||||||
30,316,645 | ||||||||||||
AGENCY MBS OTHER — 1.8% | ||||||||||||
2,178,243 | Fannie Mae Pool MA4805 | 4.5000 | 11/01/52 | 2,115,298 | ||||||||
GOVERNMENT OWNED, NO GUARANTEE — 5.6% | ||||||||||||
1,900,000 | Federal Home Loan Mortgage Corporation | 6.2500 | 07/15/32 | 2,208,180 | ||||||||
2,000,000 | Federal National Mortgage Association | 6.2500 | 05/15/29 | 2,222,297 | ||||||||
1,700,000 | Federal National Mortgage Association | 5.6250 | 07/15/37 | 1,930,157 | ||||||||
6,360,634 | ||||||||||||
GOVERNMENT SPONSORED — 9.4% | ||||||||||||
1,000,000 | Federal Farm Credit Banks Funding Corporation | 4.5000 | 09/22/28 | 1,027,137 | ||||||||
1,520,000 | Federal Farm Credit Banks Funding Corporation | 4.8750 | 11/01/28 | 1,588,284 | ||||||||
1,000,000 | Federal Farm Credit Banks Funding Corporation | 4.2500 | 12/15/28 | 1,015,873 | ||||||||
1,000,000 | Federal Farm Credit Banks Funding Corporation | 4.1250 | 01/11/29 | 1,010,786 | ||||||||
1,425,000 | Federal Farm Credit Banks Funding Corporation | 4.5000 | 03/09/29 | 1,459,315 | ||||||||
1,550,000 | Federal Farm Credit Banks Funding Corporation | 4.6250 | 04/05/29 | 1,600,357 | ||||||||
2,000,000 | Federal Farm Credit Banks Funding Corporation | 4.3750 | 10/24/29 | 2,032,852 | ||||||||
1,100,000 | Federal Farm Credit Banks Funding Corporation | 4.0000 | 02/09/33 | 1,077,750 | ||||||||
10,812,354 | ||||||||||||
TOTAL U.S. GOVERNMENT & AGENCIES (Cost $49,790,840) | 49,604,931 | |||||||||||
TOTAL INVESTMENTS - 97.1% (Cost $114,731,116) | $ | 111,010,863 | ||||||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 2.9% | 3,373,910 | |||||||||||
NET ASSETS - 100.0% | $ | 114,384,773 |
LLC | - Limited Liability Company |
L.P. | - Limited Partnership |
SOFRRATE | United States SOFR Secured Overnight Financing Rate |
TSFR3M | CME Term SOFR 3 Month |
US0003M | ICE LIBOR USD 3 Month |
1. | Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2023 the total market value of 144A securities is $4,700,459 or 4.1% of net assets. |
2. | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. |
See accompanying notes to financial statements.
E V E N T I D E | 27 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Dividend Opportunities Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) | December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 97.9% | ||||||||
AUTOMOTIVE - 0.8% | ||||||||
58,419 | Aptiv PLC1 | $ | 5,241,353 | |||||
BANKING - 0.9% | ||||||||
70,000 | Pinnacle Financial Partners, Inc. | 6,105,400 | ||||||
BIOTECH & PHARMA - 1.8% | ||||||||
438,210 | Royalty Pharma plc, Class A | 12,309,319 | ||||||
CHEMICALS - 6.8% | ||||||||
82,851 | Cabot Corporation | 6,918,059 | ||||||
759,213 | Element Solutions, Inc. | 17,568,189 | ||||||
69,679 | Sherwin-Williams Company (The) | 21,732,879 | ||||||
46,219,127 | ||||||||
DATA CENTER REIT - 0.9% | ||||||||
7,322 | Equinix, Inc. | 5,897,066 | ||||||
DIVERSIFIED INDUSTRIALS - 3.0% | ||||||||
280,056 | Pentair PLC | 20,362,872 | ||||||
ELECTRIC UTILITIES - 5.6% | ||||||||
220,926 | CMS Energy Corporation | 12,829,172 | ||||||
89,050 | Sempra Energy | 6,654,707 | ||||||
133,793 | Southern Company (The) | 9,381,565 | ||||||
231,996 | Vistra Corporation | 8,936,486 | ||||||
37,801,930 | ||||||||
ELECTRICAL EQUIPMENT - 10.5% | ||||||||
611,190 | nVent Electric PLC | 36,115,217 | ||||||
142,594 | Trane Technologies PLC | 34,778,677 | ||||||
70,893,894 | ||||||||
HEALTH CARE FACILITIES & SERVICES - 1.2% | ||||||||
125,461 | Encompass Health Corporation | 8,370,758 |
See accompanying notes to financial statements.
E V E N T I D E | 28 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Dividend Opportunities Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 97.9% (Continued) | ||||||||
HOME CONSTRUCTION - 2.7% | ||||||||
120,162 | DR Horton, Inc. | $ | 18,262,221 | |||||
INDUSTRIAL REIT - 2.9% | ||||||||
109,416 | EastGroup Properties, Inc. | 20,082,212 | ||||||
INDUSTRIAL SUPPORT SERVICES - 3.9% | ||||||||
134,721 | Ferguson PLC | 26,010,584 | ||||||
INSTITUTIONAL FINANCIAL SERVICES - 2.3% | ||||||||
131,274 | Houlihan Lokey, Inc. | 15,741,065 | ||||||
INSURANCE - 3.3% | ||||||||
98,879 | Arthur J Gallagher & Company | 22,235,910 | ||||||
MACHINERY - 1.5% | ||||||||
46,709 | IDEX Corporation | 10,140,991 | ||||||
MEDICAL EQUIPMENT & DEVICES - 6.0% | ||||||||
169,280 | Bruker Corporation | 12,438,694 | ||||||
8,480 | Mettler-Toledo International, Inc.1 | 10,285,901 | ||||||
78,869 | STERIS plc | 17,339,350 | ||||||
40,063,945 | ||||||||
OIL & GAS PRODUCERS - 7.9% | ||||||||
86,765 | Diamondback Energy, Inc. | 13,455,516 | ||||||
208,358 | Targa Resources Corporation | 18,100,059 | ||||||
630,611 | Williams Companies, Inc. (The) | 21,964,182 | ||||||
53,519,757 | ||||||||
RETAIL - DISCRETIONARY - 5.1% | ||||||||
28,434 | Group 1 Automotive, Inc. | 8,664,977 | ||||||
78,446 | Lithia Motors, Inc. | 25,830,698 | ||||||
34,495,675 | ||||||||
SEMICONDUCTORS - 6.4% | ||||||||
89,456 | Entegris, Inc. | 10,718,618 |
See accompanying notes to financial statements.
E V E N T I D E | 29 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Dividend Opportunities Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||||||
COMMON STOCKS — 97.9% (Continued) | ||||||||||||
SEMICONDUCTORS - 6.4% (Continued) | ||||||||||||
55,863 | KLA Corporation | $ | 32,473,162 | |||||||||
43,191,780 | ||||||||||||
SOFTWARE - 9.6% | ||||||||||||
43,867 | Palo Alto Networks, Inc.1 | 12,935,501 | ||||||||||
60,043 | Roper Technologies, Inc. | 32,733,642 | ||||||||||
35,529 | Synopsys, Inc.1 | 18,294,237 | ||||||||||
63,963,380 | ||||||||||||
TECHNOLOGY SERVICES - 8.3% | ||||||||||||
141,016 | CDW Corporation | 32,055,758 | ||||||||||
22,679 | MSCI, Inc. | 12,828,376 | ||||||||||
46,547 | Verisk Analytics, Inc. | 11,118,216 | ||||||||||
56,002,350 | ||||||||||||
TRANSPORTATION & LOGISTICS - 3.0% | ||||||||||||
49,200 | Old Dominion Freight Line, Inc. | 19,942,236 | ||||||||||
WHOLESALE - CONSUMER STAPLES - 1.0% | ||||||||||||
94,105 | Sysco Corporation | 6,881,899 | ||||||||||
WHOLESALE - DISCRETIONARY - 2.5% | ||||||||||||
42,791 | Pool Corporation | 17,061,200 | ||||||||||
TOTAL COMMON STOCKS (Cost $537,342,258) | 660,796,924 | |||||||||||
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
CORPORATE BONDS — 0.5% | ||||||||||||
ASSET MANAGEMENT — 0.5% | ||||||||||||
3,250,000 | Vision Fund International2,3,4,5 | 5.2600 | 11/30/25 | 3,250,000 | ||||||||
TOTAL CORPORATE BONDS (Cost $3,250,000) | 3,250,000 |
See accompanying notes to financial statements.
E V E N T I D E | 30 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Dividend Opportunities Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||
SHORT-TERM INVESTMENTS — 0.0%6 | ||||||||
MONEY MARKET FUNDS - 0.0%6 | ||||||||
108,779 | Fidelity Government Portfolio, Class I, 5.24% (Cost $108,779)7 | $ | 108,779 | |||||
TOTAL INVESTMENTS - 98.4% (Cost $540,701,037) | $ | 664,155,703 | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 1.6% | 10,888,264 | |||||||
NET ASSETS - 100.0% | $ | 675,043,967 |
MSCI | - Morgan Stanley Capital International |
PLC | - Public Limited Company |
REIT | - Real Estate Investment Trust |
1. | Non-income producing security. |
2. | Illiquid security. The total fair value of these securities as of December 31, 2023 was $3,250,000, representing 0.5% of net assets. |
3. | The value of this security has been determined in good faith under policies of the Board of Trustees. |
4. | Private investment. |
5. | Restricted security. |
6. | Percentage rounds to less than 0.1%. |
7. | Rate disclosed is the seven day effective yield as of December 31, 2023. |
See accompanying notes to financial statements.
E V E N T I D E | 31 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Exponential Technologies Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) | December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 96.4% | ||||||||
ADVERTISING & MARKETING - 2.7% | ||||||||
48,389 | Trade Desk, Inc. (The), Class A1 | $ | 3,482,072 | |||||
BIOTECH & PHARMA - 2.6% | ||||||||
41,723 | TransMedics Group, Inc.1 | 3,293,196 | ||||||
CONSUMER SERVICES - 4.3% | ||||||||
283,836 | Coursera, Inc.1 | 5,497,903 | ||||||
MEDICAL EQUIPMENT & DEVICES - 1.6% | ||||||||
10,594 | Shockwave Medical, Inc.1 | 2,018,793 | ||||||
SEMICONDUCTORS - 14.2% | ||||||||
27,356 | Entegris, Inc. | 3,277,796 | ||||||
5,560 | KLA Corporation | 3,232,028 | ||||||
5,125 | Lam Research Corporation | 4,014,208 | ||||||
42,313 | Lattice Semiconductor Corporation1 | 2,919,174 | ||||||
7,448 | Monolithic Power Systems, Inc. | 4,698,050 | ||||||
18,141,256 | ||||||||
SOFTWARE - 56.1% | ||||||||
398,774 | Arteris, Inc.1 | 2,348,779 | ||||||
40,215 | BILL Holdings, Inc.1 | 3,281,142 | ||||||
1,934 | Constellation Software, Inc. | 4,805,313 | ||||||
20,003 | Crowdstrike Holdings, Inc., Class A1 | 5,107,166 | ||||||
29,529 | Datadog, Inc., Class A1 | 3,584,230 | ||||||
231,433 | Dlocal Ltd./Uruguay1 | 4,094,050 | ||||||
118,500 | DoubleVerify Holdings, Inc.1 | 4,358,430 | ||||||
38,818 | Five9, Inc.1 | 3,054,588 | ||||||
212,071 | Flywire Corporation1 | 4,909,444 | ||||||
98,563 | Global-e Online Ltd.1 | 3,906,052 | ||||||
5,497 | HubSpot, Inc.1 | 3,191,228 | ||||||
85,983 | Intapp, Inc.1 | 3,269,074 | ||||||
29,932 | Monday.com Ltd.1 | 5,621,528 | ||||||
8,958 | MongoDB, Inc.1 | 3,662,478 | ||||||
21,168 | Palo Alto Networks, Inc.1 | 6,242,019 |
See accompanying notes to financial statements.
E V E N T I D E | 32 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Exponential Technologies Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||||||
COMMON STOCKS — 96.4% (Continued) | ||||||||||||
SOFTWARE - 56.1% (Continued) | ||||||||||||
47,673 | Procore Technologies, Inc.1 | $ | 3,299,925 | |||||||||
35,231 | Sprout Social, Inc., Class A1 | 2,164,593 | ||||||||||
8,938 | Synopsys, Inc.1 | 4,602,266 | ||||||||||
71,502,305 | ||||||||||||
TECHNOLOGY HARDWARE & EQUIPMENT - 10.3% | ||||||||||||
366,015 | Xometry, Inc.1 | 13,143,599 | ||||||||||
TECHNOLOGY SERVICES - 4.6% | ||||||||||||
156,895 | Adyen N.V. - ADR1 | 2,020,808 | ||||||||||
213,111 | Toast, Inc., Class A1 | 3,891,407 | ||||||||||
5,912,215 | ||||||||||||
TOTAL COMMON STOCKS (Cost $87,928,498) | 122,991,339 | |||||||||||
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
CORPORATE BONDS — 0.6% | ||||||||||||
ASSET MANAGEMENT — 0.6% | ||||||||||||
750,000 | Vision Fund International2,3,4,5 | 5.2600 | 11/30/25 | 750,000 | ||||||||
TOTAL CORPORATE BONDS (Cost $750,000) | 750,000 | |||||||||||
Shares | Fair Value | |||||||||||
WARRANT — 0.0%6 | ||||||||||||
SOFTWARE - 0.0%6 | ||||||||||||
1,934 | Constellation Software, Inc. (Canada)1,2,3 | — | ||||||||||
TOTAL WARRANT (Cost $–) | — |
See accompanying notes to financial statements.
E V E N T I D E | 33 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Exponential Technologies Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||
SHORT-TERM INVESTMENTS — 0.0%6 | ||||||||
MONEY MARKET FUNDS - 0.0%6 | ||||||||
12,195 | Fidelity Government Portfolio, Class I, 5.24% (Cost $12,195)7 | $ | 12,195 | |||||
TOTAL INVESTMENTS - 97.0% (Cost $88,690,693) | $ | 123,753,534 | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 3.0% | 3,879,146 | |||||||
NET ASSETS - 100.0% | $ | 127,632,680 |
ADR | - American Depositary Receipt |
LTD | - Limited Company |
N.V. | - Naamioze Vennootschap |
1. | Non-income producing security. |
2. | Illiquid security. The total fair value of these securities as of December 31, 2023 was $750,000, representing 0.6% of net assets. |
3. | The value of this security has been determined in good faith under policies of the Board of Trustees. |
4. | Private investment. |
5. | Restricted security. |
6. | Percentage rounds to less than 0.1%. |
7. | Rate disclosed is the seven day effective yield as of December 31, 2023. |
See accompanying notes to financial statements.
E V E N T I D E | 34 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Gilead Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) | December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 94.5% | ||||||||
ADVERTISING & MARKETING - 1.8% | ||||||||
968,934 | Trade Desk, Inc. (The), Class A1 | $ | 69,724,491 | |||||
AUTOMOTIVE - 2.2% | ||||||||
719,700 | Aptiv PLC1 | 64,571,484 | ||||||
177,081 | Autoliv, Inc. | 19,512,555 | ||||||
84,084,039 | ||||||||
BIOTECH & PHARMA - 12.7% | ||||||||
2,568,543 | Ardelyx, Inc.1 | 15,924,967 | ||||||
155,276 | Argenx S.E. - ADR1 | 59,071,649 | ||||||
180,735 | Ascendis Pharma A/S - ADR1 | 22,763,573 | ||||||
1,816,449 | Celldex Therapeutics, Inc.1 | 72,040,367 | ||||||
1,344,376 | Collegium Pharmaceutical, Inc.1 | 41,379,893 | ||||||
1,306,685 | Dynavax Technologies Corporation1 | 18,267,456 | ||||||
2,717,741 | Guardant Health, Inc.1 | 73,514,894 | ||||||
1,183,563 | Mirum Pharmaceuticals, Inc.1 | 34,938,780 | ||||||
228,572 | Mirum Pharmaceuticals, Inc. PIPE1,2,3,6 | 6,747,445 | ||||||
447,712 | Scholar Rock Holding Corporation1 | 8,416,986 | ||||||
737,946 | TransMedics Group, Inc.1 | 58,246,078 | ||||||
4,976,164 | Zentalis Pharmaceuticals, Inc.1,2 | 75,388,884 | ||||||
486,700,972 | ||||||||
COMMERCIAL SUPPORT SERVICES - 3.7% | ||||||||
490,000 | Rollins, Inc. | 21,398,300 | ||||||
804,000 | Waste Connections, Inc. | 120,013,080 | ||||||
141,411,380 | ||||||||
CONSUMER SERVICES - 1.9% | ||||||||
3,651,040 | Coursera, Inc.1 | 70,720,645 | ||||||
ELECTRICAL EQUIPMENT - 4.5% | ||||||||
125,900 | Novanta, Inc.1 | 21,202,819 | ||||||
613,600 | Trane Technologies PLC | 149,657,040 | ||||||
170,859,859 | ||||||||
FORESTRY, PAPER & WOOD PRODUCTS - 1.9% | ||||||||
882,000 | Trex Company, Inc.1 | 73,020,780 |
See accompanying notes to financial statements.
E V E N T I D E | 35 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Gilead Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 94.5% (Continued) | ||||||||
HOME CONSTRUCTION - 2.5% | ||||||||
622,000 | DR Horton, Inc. | $ | 94,531,560 | |||||
MEDICAL EQUIPMENT & DEVICES - 8.4% | ||||||||
517,376 | Exact Sciences Corporation1 | 38,275,477 | ||||||
222,138 | IDEXX Laboratories, Inc.1 | 123,297,697 | ||||||
75,000 | Intuitive Surgical, Inc.1 | 25,302,000 | ||||||
63,357 | Mettler-Toledo International, Inc.1 | 76,849,507 | ||||||
296,536 | Shockwave Medical, Inc.1 | 56,507,900 | ||||||
320,232,581 | ||||||||
OIL & GAS PRODUCERS - 1.8% | ||||||||
301,000 | Cheniere Energy, Inc. | 51,383,710 | ||||||
214,336 | Targa Resources Corporation | 18,619,368 | ||||||
70,003,078 | ||||||||
RETAIL - DISCRETIONARY - 4.1% | ||||||||
171,076 | Lithia Motors, Inc. | 56,331,905 | ||||||
343,096 | Lowe’s Companies, Inc. | 76,356,015 | ||||||
30,033 | O’Reilly Automotive, Inc.1 | 28,533,753 | ||||||
161,221,673 | ||||||||
SEMICONDUCTORS - 6.7% | ||||||||
69,000 | ASML Holding N.V. | 52,227,480 | ||||||
397,941 | Entegris, Inc. | 47,681,291 | ||||||
79,558 | Lam Research Corporation | 62,314,598 | ||||||
512,605 | Lattice Semiconductor Corporation1 | 35,364,619 | ||||||
90,818 | Monolithic Power Systems, Inc. | 57,286,178 | ||||||
254,874,166 | ||||||||
SOFTWARE - 29.1% | ||||||||
482,524 | BILL Holdings, Inc.1 | 39,369,133 | ||||||
475,426 | Crowdstrike Holdings, Inc., Class A1 | 121,385,765 | ||||||
760,909 | Datadog, Inc., Class A1 | 92,359,134 | ||||||
5,186,803 | Dlocal Ltd./Uruguay1 | 91,754,545 | ||||||
1,800,728 | DoubleVerify Holdings, Inc.1 | 66,230,776 | ||||||
1,339,339 | Evolent Health, Inc., Class A1 | 44,238,367 | ||||||
664,271 | Five9, Inc.1 | 52,271,485 | ||||||
3,987,738 | Flywire Corporation1 | 92,316,135 |
See accompanying notes to financial statements.
E V E N T I D E | 36 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Gilead Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 94.5% (Continued) | ||||||||
SOFTWARE - 29.1% (Continued) | ||||||||
2,363,795 | Global-e Online Ltd.1 | $ | 93,677,196 | |||||
135,642 | HubSpot, Inc.1 | 78,745,607 | ||||||
377,653 | Monday.com Ltd.1 | 70,927,010 | ||||||
44,000 | MongoDB, Inc.1 | 17,989,400 | ||||||
335,344 | Palo Alto Networks, Inc.1 | 98,886,239 | ||||||
159,400 | Roper Technologies, Inc. | 86,900,098 | ||||||
550,849 | Sprout Social, Inc., Class A1 | 33,844,163 | ||||||
89,331 | Workday, Inc., Class A1 | 24,660,716 | ||||||
1,105,555,769 | ||||||||
TECHNOLOGY HARDWARE & EQUIPMENT - 5.0% | ||||||||
5,320,474 | Xometry, Inc.1,2 | 191,058,222 | ||||||
TECHNOLOGY SERVICES - 1.6% | ||||||||
3,434,299 | Toast, Inc., Class A1 | 62,710,300 | ||||||
TRANSPORTATION & LOGISTICS - 4.1% | ||||||||
220,000 | GXO Logistics, Inc.1 | 13,455,200 | ||||||
355,049 | Old Dominion Freight Line, Inc. | 143,912,011 | ||||||
157,367,211 | ||||||||
WHOLESALE - DISCRETIONARY - 2.5% | ||||||||
237,000 | Pool Corporation | 94,494,270 | ||||||
TOTAL COMMON STOCKS (Cost $2,308,446,065) | 3,608,570,996 | |||||||
Shares | Fair Value | |||||||
CONTINGENT VALUE RIGHTS — 0.1% | ||||||||
BIOTECH & PHARMA - 0.1% | ||||||||
3,982,940 | Peloton Therapeutics, Inc. - CVR1,3,4,5,6 | 3,365,186 | ||||||
TOTAL CONTINGENT VALUE RIGHTS (Cost $–) | 3,365,186 |
See accompanying notes to financial statements.
E V E N T I D E | 37 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Gilead Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||||||
PRIVATE INVESTMENTS — 0.6% | ||||||||||||
MEDICAL EQUIPMENT & DEVICES — 0.6% | ||||||||||||
1,881,322 | Beta Bionics, Inc. Series B1,2,3,4,5,6 | 10,046,259 | ||||||||||
665,474 | Beta Bionics, Inc. Series B21,2,3,4,5,6 | 3,613,525 | ||||||||||
964,052 | Beta Bionics, Inc. Series C1,2,3,4,5,6 | 4,993,787 | ||||||||||
714,286 | Beta Bionics, Inc. Series D1,2,3,4,5,6 | 3,935,716 | ||||||||||
22,589,287 | ||||||||||||
TOTAL PRIVATE INVESTMENTS (Cost $43,399,900) | 22,589,287 | |||||||||||
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
CORPORATE BONDS — 1.1% | ||||||||||||
ASSET MANAGEMENT — 1.1% | ||||||||||||
12,000,000 | Calvert Impact Capital, Inc.3 | 1.5000 | 11/15/24 | 12,000,000 | ||||||||
2,000,000 | Hope Global International3,4,5,6 | 4.0000 | 01/07/28 | 2,000,000 | ||||||||
5,000,000 | Vision Fund International3,4,5,6 | 4.7400 | 05/16/25 | 5,000,000 | ||||||||
5,000,000 | Vision Fund International3,4,5,6 | 5.9030 | 09/19/25 | 5,000,000 | ||||||||
9,000,000 | Vision Fund International3,4,5,6 | 5.2600 | 11/30/25 | 9,000,000 | ||||||||
5,000,000 | Vision Fund International3,4,5,6 | 3.1500 | 12/15/25 | 5,000,000 | ||||||||
5,000,000 | Vision Fund International3,4,5,6 | 3.2230 | 12/15/26 | 5,000,000 | ||||||||
43,000,000 | ||||||||||||
TOTAL CORPORATE BONDS (Cost $43,000,000) | 43,000,000 | |||||||||||
Shares | Fair Value | |||||||||||
WARRANT — 0.1% | ||||||||||||
MEDICAL EQUIPMENT & DEVICES - 0.1% | ||||||||||||
241,013 | Beta Bionics, Inc. Series C Warrant1,2,3,4,5,6 | 1,274,959 | ||||||||||
500,000 | Beta Bionics, Inc. Series D Warrant1,2,3,4,5,6 | 2,020,000 | ||||||||||
3,294,959 | ||||||||||||
TOTAL WARRANT (Cost $–) | 3,294,959 |
See accompanying notes to financial statements.
E V E N T I D E | 38 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Gilead Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||
SHORT-TERM INVESTMENTS — 0.1% | ||||||||
MONEY MARKET FUNDS - 0.1% | ||||||||
5,063,928 | Fidelity Government Portfolio, Class I, 5.24% (Cost $5,063,928)7 | $ | 5,063,928 | |||||
TOTAL INVESTMENTS - 96.5% (Cost $2,399,909,893) | $ | 3,685,884,356 | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 3.5% | 134,526,254 | |||||||
NET ASSETS - 100.0% | $ | 3,820,410,610 |
ADR | - American Depositary Receipt |
A/S | - Anonim Sirketi |
CVR | - Contingent Value Rights |
LTD | - Limited Company |
N.V. | - Naamioze Vennootschap |
PIPE | - Private Investment in Public Equity |
PLC | - Public Limited Company |
1. | Non-income producing security. |
2. | Affiliated Company – Eventide Gilead Fund holds in excess of 5% of outstanding voting securities of this security. |
3. | Illiquid security. The total fair value of these securities as of December 31, 2023 was $78,996,877, representing 2.1% of net assets. |
4. | The value of this security has been determined in good faith under policies of the Board of Trustees. |
5. | Private investment. |
6. | Restricted security. |
7. | Rate disclosed is the seven day effective yield as of December 31, 2023. |
See accompanying notes to financial statements.
E V E N T I D E | 39 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Healthcare & Life Sciences Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) | December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 92.3% | ||||||||
BIOTECH & PHARMA - 74.5% | ||||||||
809,391 | ACADIA Pharmaceuticals, Inc.1 | $ | 25,342,032 | |||||
12,178 | Aerovate Therapeutics, Inc.1 | 275,588 | ||||||
87,000 | Alnylam Pharmaceuticals, Inc.1 | 16,652,670 | ||||||
1,116,837 | Amylyx Pharmaceuticals, Inc.1 | 16,439,841 | ||||||
427,000 | AnaptysBio, Inc.1 | 9,146,340 | ||||||
209,794 | Apellis Pharmaceuticals, Inc.1 | 12,558,269 | ||||||
240,000 | Arcus Biosciences, Inc.1 | 4,584,000 | ||||||
4,235,000 | Ardelyx, Inc.1 | 26,257,000 | ||||||
88,651 | Argenx S.E. - ADR1 | 33,725,500 | ||||||
313,289 | Arrowhead Pharmaceuticals, Inc.1 | 9,586,643 | ||||||
5,802,682 | Aura Biosciences, Inc.1,2 | 51,411,763 | ||||||
346,712 | Axsome Therapeutics, Inc.1 | 27,594,808 | ||||||
261,360 | Beam Therapeutics, Inc.1 | 7,114,219 | ||||||
401,101 | Biohaven Ltd.1 | 17,167,123 | ||||||
312,374 | Blueprint Medicines Corporation1 | 28,813,378 | ||||||
579,414 | Bridgebio Pharma, Inc.1 | 23,390,943 | ||||||
137,513 | Bridgebio Pharma, Inc. PIPE1,3,6,7 | 5,551,400 | ||||||
1,812,364 | Celldex Therapeutics, Inc.1 | 71,878,355 | ||||||
490,000 | Cerevel Therapeutics Holdings, Inc.1 | 20,776,000 | ||||||
2,232,968 | Cogent Biosciences, Inc.1 | 13,129,852 | ||||||
1,285,217 | Collegium Pharmaceutical, Inc.1 | 39,558,979 | ||||||
1,059,633 | Crinetics Pharmaceuticals, Inc.1 | 37,701,742 | ||||||
556,000 | Cytokinetics, Inc.1 | 46,420,440 | ||||||
1,585,771 | Dynavax Technologies Corporation1 | 22,169,079 | ||||||
1,168,310 | Guardant Health, Inc.1 | 31,602,786 | ||||||
335,000 | Ideaya Biosciences, Inc.1 | 11,919,300 | ||||||
763,000 | ImmunoGen, Inc.1 | 22,622,950 | ||||||
121,508 | Incyte Corporation1 | 7,629,487 | ||||||
3,179,837 | Inozyme Pharma, Inc.1,2 | 13,546,106 | ||||||
635,185 | Insmed, Inc.1 | 19,684,383 | ||||||
372,665 | Intellia Therapeutics, Inc.1 | 11,362,556 | ||||||
740,554 | Ironwood Pharmaceuticals, Inc.1 | 8,471,938 | ||||||
190,000 | Karuna Therapeutics, Inc.1 | 60,136,900 | ||||||
580,000 | Keros Therapeutics, Inc.1 | 23,060,800 | ||||||
546,325 | Korro Bio, Inc.1,2,3,6 | 26,185,357 | ||||||
136,485 | Krystal Biotech, Inc.1 | 16,932,329 |
See accompanying notes to financial statements.
E V E N T I D E | 40 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Healthcare & Life Sciences Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 92.3% (Continued) | ||||||||
BIOTECH & PHARMA – 74.5% (Continued) | ||||||||
2,045,454 | Lexeo Therapeutics, Inc.1,2 | $ | 27,449,993 | |||||
957,377 | Lexeo Therapeutics, Inc.1,2,3,6 | 12,847,999 | ||||||
4,529,997 | Marinus Pharmaceuticals, Inc.1,2 | 49,241,067 | ||||||
1,098,318 | Mirum Pharmaceuticals, Inc.1 | 32,422,347 | ||||||
152,381 | Mirum Pharmaceuticals, Inc. PIPE1,2,3,6 | 4,498,287 | ||||||
445,155 | Prothena Corporation plc1 | 16,176,933 | ||||||
361,000 | REVOLUTION Medicines, Inc.1 | 10,353,480 | ||||||
490,732 | Rocket Pharmaceuticals, Inc.1 | 14,707,238 | ||||||
1,143,938 | Roivant Sciences Ltd.1 | 12,846,424 | ||||||
89,219 | Sarepta Therapeutics, Inc.1 | 8,603,388 | ||||||
525,000 | Scholar Rock Holding Corporation1 | 9,870,000 | ||||||
439,474 | TG Therapeutics, Inc.1 | 7,506,216 | ||||||
214,000 | TransMedics Group, Inc.1 | 16,891,020 | ||||||
250,000 | Turnstone Biologics Corporation1 | 636,250 | ||||||
458,317 | Turnstone Biologics, Inc. Series D1,3,6 | 1,166,417 | ||||||
359,000 | Ultragenyx Pharmaceutical, Inc.1 | 17,167,380 | ||||||
607,206 | Vaxcyte, Inc.1 | 38,132,537 | ||||||
1,377,781 | Verona Pharma plc - ADR1 | 27,390,286 | ||||||
750,000 | Viking Therapeutics, Inc.1 | 13,957,500 | ||||||
6,581,258 | Zentalis Pharmaceuticals, Inc.1,2 | 99,706,058 | ||||||
1,241,971,676 | ||||||||
MEDICAL EQUIPMENT & DEVICES - 13.0% | ||||||||
1,430,995 | 908 Devices, Inc.1 | 16,055,764 | ||||||
565,546 | Exact Sciences Corporation1 | 41,839,093 | ||||||
512,914 | Inari Medical, Inc.1 | 33,298,377 | ||||||
125,090 | Inspire Medical Systems, Inc.1 | 25,447,059 | ||||||
239,135 | iRhythm Technologies, Inc.1 | 25,597,010 | ||||||
119,000 | Repligen Corporation1 | 21,396,200 | ||||||
198,864 | Shockwave Medical, Inc.1 | 37,895,524 | ||||||
564,000 | Veracyte, Inc.1 | 15,515,640 | ||||||
217,044,667 | ||||||||
SOFTWARE - 4.8% | ||||||||
1,298,805 | Evolent Health, Inc., Class A1 | 42,899,529 | ||||||
1,000,000 | Privia Health Group, Inc.1 | 23,030,000 | ||||||
1,375,980 | R1 RCM, Inc.1 | 14,544,109 | ||||||
80,473,638 | ||||||||
TOTAL COMMON STOCKS (Cost $1,332,560,404) | 1,539,489,981 |
See accompanying notes to financial statements.
E V E N T I D E | 41 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Healthcare & Life Sciences Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||
CONTINGENT VALUE RIGHTS — 0.1% | ||||||||
BIOTECH & PHARMA - 0.1% | ||||||||
1,528,871 | Peloton Therapeutics, Inc. - CVR1,3,4,5,6 | $ | 1,291,743 | |||||
TOTAL CONTINGENT VALUE RIGHTS (Cost $–) | 1,291,743 | |||||||
Shares | Fair Value | |||||||
PRIVATE INVESTMENTS— 4.2% | ||||||||
BIOTECH & PHARMA — 3.3% | ||||||||
4,643,043 | Arch Oncology, Inc. Series C11,3,4,5,6 | 128,798 | ||||||
20,482,289 | Avalyn Pharma Inc. Series C11,3,4,5,6 | 15,000,000 | ||||||
295,276 | BioSplice Therapeutics, Inc. Series B-11,3,4,5,6 | 1,470,474 | ||||||
5,000,000 | Casma Therapeutics, Inc. Series B11,2,3,4,5,6 | 1,495,000 | ||||||
5,000,000 | Casma Therapeutics, Inc. Series B21,2,3,4,5,6 | 1,495,000 | ||||||
1,820,413 | Casma Therapeutics, Inc. Series C11,2,3,4,5,6 | 544,303 | ||||||
1,219,013 | Casma Therapeutics, Inc. Series C21,2,3,4,5,6 | 364,485 | ||||||
1,097,561 | Flare Therapeutics, Inc. Series A1,3,4,5,6 | 1,320,366 | ||||||
902,439 | Flare Therapeutics, Inc. Series A21,3,4,5,6 | 1,085,634 | ||||||
1,952,962 | Flare Therapeutics, Inc. Series B1,3,4,5,6 | 2,349,413 | ||||||
928,098 | Freenome Holdings, Inc. Series D1,3,4,5,6 | 6,999,994 | ||||||
5,000,000 | Goldfinch Biopharma, Inc. Series A1,2,3,4,5,6 | — | ||||||
8,474,576 | Goldfinch Biopharma, Inc. Series B1,2,3,4,5,6 | — | ||||||
4,237,288 | Goldfinch Biopharma, Inc. Series B21,2,3,4,5,6 | — | ||||||
763,319 | Kojin Therapeutics, Inc. Series A-11,3,4,5,6 | 467,228 | ||||||
763,319 | Kojin Therapeutics, Inc. Series A-21,3,4,5,6 | 467,228 | ||||||
686,724 | Metagenomi Technologies, LLC Series B1,3,4,5,6 | 9,660,833 | ||||||
98,875 | Metagenomi Technologies, LLC Series B-11,3,4,5,6 | 1,390,974 | ||||||
1,017,770 | Prometheus Laboratories, Inc.1,2,3,4,5,6 | 702,261 | ||||||
1,489,958 | Shoreline Biosciences Series B1,3,4,5,6 | 10,295,610 | ||||||
55,237,601 |
See accompanying notes to financial statements.
E V E N T I D E | 42 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Healthcare & Life Sciences Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||||||
PRIVATE INVESTMENTS— 4.2% (Continued) | ||||||||||||
MEDICAL EQUIPMENT & DEVICES — 0.9% | ||||||||||||
940,661 | Beta Bionics, Inc. Series B1,2,3,4,5,6 | $ | 5,023,128 | |||||||||
809,361 | Beta Bionics, Inc. Series B21,2,3,4,5,6 | 4,394,828 | ||||||||||
482,026 | Beta Bionics, Inc. Series C1,2,3,4,5,6 | 2,496,894 | ||||||||||
476,190 | Beta Bionics, Inc. Series D1,2,3,4,5,6 | 2,623,807 | ||||||||||
14,538,657 | ||||||||||||
TOTAL PRIVATE INVESTMENTS (Cost $132,293,679) | 69,776,258 | |||||||||||
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
CONVERTIBLE BONDS — 0.2% | ||||||||||||
BIOTECH & PHARMA — 0.2% | ||||||||||||
2,500,000 | Biosplice Therapeutics, Inc. Series C PIK3,4,5,6 | 10.5000 | 03/12/25 | 2,818,000 | ||||||||
TOTAL CONVERTIBLE BONDS (Cost $2,500,000) | 2,818,000 | |||||||||||
Shares | Fair Value | |||||||||||
WARRANT — 0.1% | ||||||||||||
BIOTECH & PHARMA - 0.0%8 | ||||||||||||
72,880 | Biosplice Therapeutics, Inc. Series C Warrant1,3,4,5,6 | 71,422 | ||||||||||
MEDICAL EQUIPMENT & DEVICES - 0.1% | ||||||||||||
120,500 | Beta Bionics, Inc. Series C Warrant1,2,3,4,5,6 | 637,445 | ||||||||||
333,333 | Beta Bionics, Inc. Series D Warrant1,2,3,4,5,6 | 1,346,666 | ||||||||||
1,984,111 | ||||||||||||
TOTAL WARRANT (Cost $–) | 2,055,533 | |||||||||||
Shares | Fair Value | |||||||||||
SHORT-TERM INVESTMENTS — 0.2% | ||||||||||||
MONEY MARKET FUNDS - 0.2% | ||||||||||||
3,306,956 | Fidelity Government Portfolio, Class I, 5.24% (Cost $3,306,956)9 | 3,306,956 | ||||||||||
TOTAL INVESTMENTS - 97.1% (Cost $1,470,661,039) | $ | 1,618,738,471 | ||||||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 2.9% | 48,309,302 | |||||||||||
NET ASSETS - 100.0% | $ | 1,667,047,773 |
ADR | - American Depositary Receipt |
CVR | - Contingent Value Rights |
LLC | - Limited Liability Company |
LTD | - Limited Company |
PIK | - Payment in Kind |
PIPE | - Private Investment in Public Equity |
PLC | - Public Limited Company |
1. | Non-income producing security. |
2. | Affiliated Company – Eventide Healthcare & Life Sciences Fund holds in excess of 5% of outstanding voting securities of this security. |
3. | Illiquid security. The total fair value of these securities as of December 31, 2023 was $126,190,994, representing 7.6% of net assets. |
4. | The value of this security has been determined in good faith under policies of the Board of Trustees. |
5. | Private investment. |
6. | Restricted security. |
7. | Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2023 the total market value of 144A securities is $5,551,400 or 0.3% of net assets. |
8. | Percentage rounds to less than 0.1%. |
9. | Rate disclosed is the seven day effective yield as of December 31, 2023. |
See accompanying notes to financial statements.
E V E N T I D E | 43 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Large Cap Focus Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) | December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 95.0% | ||||||||
ADVERTISING & MARKETING - 2.9% | ||||||||
12,707 | Trade Desk, Inc. (The), Class A1 | $ | 914,396 | |||||
AUTOMOTIVE - 1.9% | ||||||||
6,724 | Aptiv PLC1 | 603,277 | ||||||
BIOTECH & PHARMA - 4.1% | ||||||||
1,719 | Argenx S.E. - ADR1 | 653,959 | ||||||
3,140 | Zoetis, Inc. | 619,742 | ||||||
1,273,701 | ||||||||
CHEMICALS - 9.8% | ||||||||
4,549 | Linde plc | 1,868,320 | ||||||
3,711 | Sherwin-Williams Company (The) | 1,157,461 | ||||||
3,025,781 | ||||||||
COMMERCIAL SUPPORT SERVICES - 2.6% | ||||||||
5,417 | Waste Connections, Inc. | 808,596 | ||||||
ELECTRICAL EQUIPMENT - 3.4% | ||||||||
4,434 | Trane Technologies PLC | 1,081,452 | ||||||
MEDICAL EQUIPMENT & DEVICES - 9.1% | ||||||||
1,115 | Align Technology, Inc.1 | 305,510 | ||||||
6,678 | Edwards Lifesciences Corporation1 | 509,198 | ||||||
1,663 | IDEXX Laboratories, Inc.1 | 923,048 | ||||||
1,629 | Intuitive Surgical, Inc.1 | 549,559 | ||||||
433 | Mettler-Toledo International, Inc.1 | 525,212 | ||||||
2,812,527 | ||||||||
RETAIL - DISCRETIONARY - 5.5% | ||||||||
3,115 | Lowe’s Companies, Inc. | 693,243 | ||||||
1,047 | O’Reilly Automotive, Inc.1 | 994,734 | ||||||
1,687,977 | ||||||||
SEMICONDUCTORS - 11.3% | ||||||||
798 | ASML Holding N.V. | 604,022 | ||||||
1,034 | KLA Corporation | 601,064 | ||||||
785 | Lam Research Corporation | 614,859 |
See accompanying notes to financial statements.
E V E N T I D E | 44 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Large Cap Focus Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||
COMMON STOCKS — 95.0% (Continued) | ||||||||
SEMICONDUCTORS - 11.3% (Continued) | ||||||||
1,555 | NVIDIA Corporation | $ | 770,067 | |||||
8,736 | Taiwan Semiconductor Manufacturing Company Ltd. - ADR | 908,544 | ||||||
3,498,556 | ||||||||
SOFTWARE - 36.0% | ||||||||
379 | Constellation Software, Inc. | 941,682 | ||||||
3,617 | Crowdstrike Holdings, Inc., Class A1 | 923,492 | ||||||
6,474 | Datadog, Inc., Class A1 | 785,814 | ||||||
1,965 | Intuit, Inc. | 1,228,184 | ||||||
6,289 | Palo Alto Networks, Inc.1 | 1,854,501 | ||||||
1,134 | Roper Technologies, Inc. | 618,223 | ||||||
1,968 | ServiceNow, Inc.1 | 1,390,372 | ||||||
8,905 | Shopify, Inc., Class A1 | 693,700 | ||||||
2,640 | Synopsys, Inc.1 | 1,359,362 | ||||||
5,038 | Workday, Inc., Class A1 | 1,390,790 | ||||||
11,186,120 | ||||||||
TECHNOLOGY SERVICES - 5.9% | ||||||||
4,190 | S&P Global, Inc. | 1,845,779 | ||||||
TRANSPORTATION & LOGISTICS - 2.5% | ||||||||
1,878 | Old Dominion Freight Line, Inc. | 761,210 | ||||||
TOTAL COMMON STOCKS (Cost $24,709,416) | 29,499,372 | |||||||
Shares | Fair Value | |||||||
WARRANT — 0.0%2 | ||||||||
SOFTWARE - 0.0%2 | ||||||||
252 | Constellation Software, Inc. (Canada)1,3,4 | — | ||||||
TOTAL WARRANT (Cost $–) | — |
See accompanying notes to financial statements.
E V E N T I D E | 45 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Large Cap Focus Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Shares | Fair Value | |||||||
SHORT-TERM INVESTMENTS — 4.4% | ||||||||
MONEY MARKET FUNDS - 4.4% | ||||||||
1,351,058 | First American Government Obligations Fund, Class U, 5.30% (Cost $1,351,058)5 | $ | 1,351,058 | |||||
TOTAL INVESTMENTS - 99.4% (Cost $26,060,474) | $ | 30,850,430 | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 0.6% | 183,182 | |||||||
NET ASSETS - 100.0% | $ | 31,033,612 |
ADR | - American Depositary Receipt |
LTD | - Limited Company |
N.V. | - Naamioze Vennootschap |
PLC | - Public Limited Company |
1. | Non-income producing security. |
2. | Percentage rounds to less than 0.1%. |
3. | Illiquid security. The total fair value of these securities as of December 31, 2023 was $0, representing 0.0% of net assets. |
4. | The value of this security has been determined in good faith under policies of the Board of Trustees. |
5. | Rate disclosed is the seven day effective yield as of December 31, 2023. |
See accompanying notes to financial statements.
E V E N T I D E | 46 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Limited-Term Bond Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) | December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||||
ASSET BACKED SECURITIES — 5.5% | ||||||||||||||
AUTO LOAN — 3.6% | ||||||||||||||
2,600,000 | CarMax Auto Owner Trust Series 2020-4 C | 1.3000 | 08/17/26 | $ | 2,489,979 | |||||||||
1,000,000 | CarMax Auto Owner Trust Series 2021-2 C | 1.3400 | 02/16/27 | 937,713 | ||||||||||
1,500,000 | CarMax Auto Owner Trust Series 2021-2 D | 1.5500 | 10/15/27 | 1,402,149 | ||||||||||
4,829,841 | ||||||||||||||
OTHER ABS — 1.9% | ||||||||||||||
2,450,000 | PFS Financing Corporation Series 2020-G A1 | 0.9700 | 02/15/26 | 2,435,661 | ||||||||||
TOTAL ASSET BACKED SECURITIES (Cost $7,567,036) | 7,265,502 | |||||||||||||
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 63.0% | ||||||||||||||
AUTOMOTIVE — 1.1% | ||||||||||||||
1,500,000 | Honda Motor Company Ltd. | 2.2710 | 03/10/25 | 1,454,834 | ||||||||||
BANKING — 7.4% | ||||||||||||||
3,000,000 | Bank of America Corporation Series N2 | TSFR3M + 1.132% | 2.4560 | 10/22/25 | 2,922,254 | |||||||||
2,575,000 | JPMorgan Chase & Company2 | SOFRRATE + 1.330% | 6.0700 | 10/22/27 | 2,651,223 | |||||||||
3,000,000 | Royal Bank of Canada | 1.1500 | 07/14/26 | 2,747,015 | ||||||||||
1,450,000 | Toronto-Dominion Bank (The) | 1.2500 | 12/13/24 | 1,396,103 | ||||||||||
9,716,595 | ||||||||||||||
BIOTECH & PHARMA — 1.5% | ||||||||||||||
2,000,000 | Zoetis, Inc. | 3.9000 | 08/20/28 | 1,959,638 | ||||||||||
CONSTRUCTION MATERIALS — 1.0% | ||||||||||||||
1,350,000 | Advanced Drainage Systems, Inc.1 | 5.0000 | 09/30/27 | 1,304,080 | ||||||||||
ELEC & GAS MARKETING & TRADING — 0.7% | ||||||||||||||
1,000,000 | Southern Power Company | 0.9000 | 01/15/26 | 922,063 | ||||||||||
ELECTRIC UTILITIES — 11.1% | ||||||||||||||
1,550,000 | AES Corporation (The) | 1.3750 | 01/15/26 | 1,435,330 | ||||||||||
1,500,000 | Avangrid, Inc. | 3.1500 | 12/01/24 | 1,465,937 |
See accompanying notes to financial statements.
E V E N T I D E | 47 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Limited-Term Bond Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 63.0% (Continued) | ||||||||||||||
ELECTRIC UTILITIES — 11.1% (Continued) | ||||||||||||||
1,104,000 | CenterPoint Energy, Inc.2 | SOFRRATE + 0.650% | 5.9960 | 05/13/24 | $ | 1,104,016 | ||||||||
2,250,000 | CMS Energy Corporation | 3.8750 | 03/01/24 | 2,242,594 | ||||||||||
2,500,000 | Duke Energy Florida, LLC | 2.5000 | 12/01/29 | 2,234,040 | ||||||||||
1,275,000 | Georgia Power Company | 3.2500 | 04/01/26 | 1,226,406 | ||||||||||
2,650,000 | MidAmerican Energy Company | 3.1000 | 05/01/27 | 2,537,463 | ||||||||||
2,250,000 | NextEra Energy Capital Holdings, Inc. | 4.9000 | 02/28/28 | 2,272,475 | ||||||||||
14,518,261 | ||||||||||||||
ELECTRICAL EQUIPMENT — 1.3% | ||||||||||||||
1,700,000 | Lennox International, Inc. | 5.5000 | 09/15/28 | 1,748,364 | ||||||||||
ENGINEERING & CONSTRUCTION — 3.1% | ||||||||||||||
1,175,000 | Installed Building Products, Inc.1 | 5.7500 | 02/01/28 | 1,146,230 | ||||||||||
1,600,000 | MasTec, Inc.1 | 4.5000 | 08/15/28 | 1,505,766 | ||||||||||
1,500,000 | Quanta Services, Inc. | 0.9500 | 10/01/24 | 1,446,117 | ||||||||||
4,098,113 | ||||||||||||||
FORESTRY, PAPER & WOOD PRODUCTS — 0.9% | ||||||||||||||
1,375,000 | Louisiana-Pacific Corporation1 | 3.6250 | 03/15/29 | 1,233,248 | ||||||||||
HOME & OFFICE PRODUCTS — 0.9% | ||||||||||||||
1,250,000 | Tempur Sealy International, Inc.1 | 4.0000 | 04/15/29 | 1,130,074 | ||||||||||
HOME CONSTRUCTION — 1.8% | ||||||||||||||
1,375,000 | M/I Homes, Inc. | 4.9500 | 02/01/28 | 1,324,455 | ||||||||||
1,000,000 | Patrick Industries, Inc.1 | 7.5000 | 10/15/27 | 1,005,365 | ||||||||||
2,329,820 | ||||||||||||||
INDUSTRIAL SUPPORT SERVICES — 1.1% | ||||||||||||||
1,450,000 | United Rentals North America, Inc. | 3.8750 | 11/15/27 | 1,385,043 | ||||||||||
INSTITUTIONAL FINANCIAL SERVICES — 3.9% | ||||||||||||||
3,000,000 | Morgan Stanley2 | SOFRRATE + 0.745% | 0.8640 | 10/21/25 | 2,882,576 | |||||||||
2,200,000 | Nasdaq, Inc. | 5.3500 | 06/28/28 | 2,266,276 | ||||||||||
5,148,852 |
See accompanying notes to financial statements.
E V E N T I D E | 48 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Limited-Term Bond Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 63.0% (Continued) | ||||||||||||||
INSURANCE — 4.9% | ||||||||||||||
3,000,000 | Aflac, Inc. | 1.1250 | 03/15/26 | $ | 2,771,586 | |||||||||
2,300,000 | Brown & Brown, Inc. | 4.2000 | 09/15/24 | 2,276,107 | ||||||||||
1,425,000 | Pacific Life Global Funding II1 | 1.3750 | 04/14/26 | 1,317,969 | ||||||||||
6,365,662 | ||||||||||||||
MACHINERY — 2.6% | ||||||||||||||
1,500,000 | Mueller Water Products, Inc.1 | 4.0000 | 06/15/29 | 1,368,163 | ||||||||||
2,250,000 | Xylem, Inc./NY | 1.9500 | 01/30/28 | 2,036,533 | ||||||||||
3,404,696 | ||||||||||||||
OIL & GAS PRODUCERS — 2.7% | ||||||||||||||
1,650,000 | Cheniere Energy Partners, L.P. | 4.5000 | 10/01/29 | 1,576,969 | ||||||||||
2,150,000 | Diamondback Energy, Inc. | 3.5000 | 12/01/29 | 2,000,535 | ||||||||||
3,577,504 | ||||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 6.5% | ||||||||||||||
1,675,000 | Alexandria Real Estate Equities, Inc. | 3.8000 | 04/15/26 | 1,631,681 | ||||||||||
1,000,000 | American Tower Corporation | 3.3750 | 05/15/24 | 990,824 | ||||||||||
1,400,000 | HAT Holdings I, LLC/HAT Holdings II, LLC1 | 3.3750 | 06/15/26 | 1,316,681 | ||||||||||
2,200,000 | Public Storage2 | SOFRRATE + 0.470% | 5.8200 | 04/23/24 | 2,199,971 | |||||||||
2,500,000 | Welltower, Inc. | 2.7000 | 02/15/27 | 2,347,659 | ||||||||||
8,486,816 | ||||||||||||||
RETAIL - DISCRETIONARY — 2.7% | ||||||||||||||
700,000 | Asbury Automotive Group, Inc. | 4.5000 | 03/01/28 | 665,423 | ||||||||||
2,500,000 | AutoZone, Inc. | 4.5000 | 02/01/28 | 2,486,767 | ||||||||||
500,000 | Builders FirstSource, Inc.1 | 5.0000 | 03/01/30 | 483,405 | ||||||||||
3,635,595 | ||||||||||||||
SEMICONDUCTORS — 1.0% | ||||||||||||||
1,450,000 | Synaptics, Inc.1 | 4.0000 | 06/15/29 | 1,302,595 | ||||||||||
SOFTWARE — 3.8% | ||||||||||||||
750,000 | Intuit, Inc. | 5.1250 | 09/15/28 | 776,332 | ||||||||||
2,250,000 | Roper Technologies, Inc. | 4.2000 | 09/15/28 | 2,215,055 | ||||||||||
2,000,000 | Workday, Inc. | 3.5000 | 04/01/27 | 1,937,515 | ||||||||||
4,928,902 | ||||||||||||||
TECHNOLOGY SERVICES — 1.4% | ||||||||||||||
1,900,000 | Verisk Analytics, Inc. | 4.0000 | 06/15/25 | 1,867,313 |
See accompanying notes to financial statements.
E V E N T I D E | 49 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Limited-Term Bond Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
CORPORATE BONDS — 63.0% (Continued) | ||||||||||||||
WHOLESALE - CONSUMER STAPLES — 1.6% | ||||||||||||||
1,000,000 | Sysco Corporation | 3.7500 | 10/01/25 | $ | 976,591 | |||||||||
1,250,000 | Sysco Corporation | 2.4000 | 02/15/30 | 1,104,978 | ||||||||||
2,081,569 | ||||||||||||||
TOTAL CORPORATE BONDS (Cost $84,826,963) | 82,599,637 | |||||||||||||
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||||
MUNICIPAL BONDS — 6.5% | ||||||||||||||
COMBINED UTILITIES — 1.2% | ||||||||||||||
1,525,000 | City of Tacoma, WA Electric System Revenue | 5.6410 | 01/01/27 | 1,569,651 | ||||||||||
COUNTY — 0.8% | ||||||||||||||
1,115,000 | City & County of Honolulu, HI | 2.5180 | 10/01/26 | 1,060,021 | ||||||||||
MISCELLANEOUS TAX — 1.5% | ||||||||||||||
2,050,000 | Commonwealth of Massachusetts | 3.6390 | 07/15/24 | 2,033,458 | ||||||||||
MULTI-FAMILY HOUSING — 0.6% | ||||||||||||||
500,000 | New York City Housing Development Corporation | 1.9300 | 02/01/25 | 483,695 | ||||||||||
100,000 | New York State Housing Finance Agency | 0.5000 | 05/01/24 | 99,043 | ||||||||||
250,000 | New York State Housing Finance Agency | 2.2000 | 11/01/24 | 243,999 | ||||||||||
826,737 | ||||||||||||||
SINGLE-FAMILY HOUSING — 0.1% | ||||||||||||||
45,000 | Maryland Community Development Administration | 3.2420 | 09/01/48 | 43,691 | ||||||||||
35,000 | Massachusetts Housing Finance Agency | 4.0000 | 06/01/39 | 34,858 | ||||||||||
78,549 | ||||||||||||||
STATE — 0.8% | ||||||||||||||
300,000 | State of Oregon | 0.7950 | 05/01/24 | 295,929 | ||||||||||
500,000 | State of Oregon | 0.8120 | 11/01/24 | 483,430 | ||||||||||
300,000 | State of Oregon | 0.8950 | 05/01/25 | 285,275 | ||||||||||
1,064,634 |
See accompanying notes to financial statements.
E V E N T I D E | 50 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Limited-Term Bond Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||||
MUNICIPAL BONDS — 6.5% (Continued) | ||||||||||||||
WATER AND SEWER — 1.5% | ||||||||||||||
2,000,000 | Boston Water & Sewer Commission | 0.9650 | 11/01/25 | $ | 1,874,899 | |||||||||
TOTAL MUNICIPAL BONDS (Cost $8,863,180) | 8,507,949 | |||||||||||||
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
U.S. GOVERNMENT & AGENCIES — 22.2% | ||||||||||||||
AGENCY FIXED RATE — 1.8% | ||||||||||||||
1,315,929 | Freddie Mac Pool RD5050 | 2.0000 | 02/01/31 | 1,233,724 | ||||||||||
1,207,874 | Ginnie Mae II Pool MA7107 | 2.5000 | 01/20/36 | 1,108,566 | ||||||||||
2,342,290 | ||||||||||||||
AGENCY HYBRID ARMS — 0.0%3 | ||||||||||||||
6,190 | Ginnie Mae II Pool 829032 | H15T1Y + 1.500% | 3.6250 | 08/20/41 | 6,171 | |||||||||
ARMS — 0.0%3 | ||||||||||||||
1,711 | Fannie Mae Pool 7915732 | H15T1Y + 2.170% | 6.1700 | 08/01/34 | 1,708 | |||||||||
12 | Ginnie Mae II Pool 83752 | H15T1Y + 1.500% | 3.6250 | 02/20/24 | 12 | |||||||||
27 | Ginnie Mae II Pool 83952 | H15T1Y + 1.500% | 3.6250 | 03/20/24 | 27 | |||||||||
8 | Ginnie Mae II Pool 84102 | H15T1Y + 1.500% | 3.8750 | 04/20/24 | 8 | |||||||||
80 | Ginnie Mae II Pool 84212 | H15T1Y + 1.500% | 3.8750 | 05/20/24 | 80 | |||||||||
135 | Ginnie Mae II Pool 85022 | H15T1Y + 1.500% | 3.6250 | 09/20/24 | 134 | |||||||||
210 | Ginnie Mae II Pool 85032 | H15T1Y + 1.500% | 3.6250 | 09/20/24 | 209 | |||||||||
222 | Ginnie Mae II Pool 85652 | H15T1Y + 1.500% | 3.0000 | 12/20/24 | 220 | |||||||||
559 | Ginnie Mae II Pool 85672 | H15T1Y + 1.500% | 3.5000 | 12/20/24 | 556 | |||||||||
1,395 | Ginnie Mae II Pool 85952 | H15T1Y + 1.500% | 3.6250 | 02/20/25 | 1,380 | |||||||||
398 | Ginnie Mae II Pool 86602 | H15T1Y + 1.500% | 3.6250 | 07/20/25 | 395 | |||||||||
11,658 | Ginnie Mae II Pool 805692 | H15T1Y + 1.500% | 3.6250 | 01/20/32 | 11,721 | |||||||||
1,493 | Ginnie Mae II Pool 806592 | H15T1Y + 1.500% | 2.7500 | 12/20/32 | 1,472 | |||||||||
17,922 | ||||||||||||||
GOVERNMENT OWNED, NO GUARANTEE — 6.8% | ||||||||||||||
1,000,000 | Federal Home Loan Mortgage Corporation | 5.8500 | 08/23/27 | 999,984 | ||||||||||
1,250,000 | Federal Home Loan Mortgage Corporation | 5.0000 | 09/18/28 | 1,252,807 | ||||||||||
2,000,000 | Federal Home Loan Mortgage Corporation | 6.0000 | 09/28/28 | 2,001,017 | ||||||||||
2,000,000 | Federal National Mortgage Association | 4.1250 | 08/28/25 | 1,990,017 |
See accompanying notes to financial statements.
E V E N T I D E | 51 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Limited-Term Bond Fund | |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | December 31, 2023 |
Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
U.S. GOVERNMENT & AGENCIES — 22.2% (Continued) | ||||||||||||||
GOVERNMENT OWNED, NO GUARANTEE — 6.8% (Continued) | ||||||||||||||
2,400,000 | Federal National Mortgage Association | 6.2500 | 05/15/29 | $ | 2,666,757 | |||||||||
8,910,582 | ||||||||||||||
GOVERNMENT SPONSORED — 13.6% | ||||||||||||||
2,500,000 | Federal Farm Credit Banks Funding Corporation | 4.5000 | 01/10/25 | 2,498,855 | ||||||||||
1,500,000 | Federal Farm Credit Banks Funding Corporation | 4.0000 | 01/13/26 | 1,489,667 | ||||||||||
1,000,000 | Federal Farm Credit Banks Funding Corporation | 2.9200 | 04/29/26 | 969,108 | ||||||||||
1,500,000 | Federal Farm Credit Banks Funding Corporation | 5.3000 | 10/19/26 | 1,500,060 | ||||||||||
1,000,000 | Federal Farm Credit Banks Funding Corporation | 3.8750 | 02/14/28 | 995,183 | ||||||||||
1,000,000 | Federal Farm Credit Banks Funding Corporation | 4.3750 | 03/10/28 | 1,015,318 | ||||||||||
1,000,000 | Federal Farm Credit Banks Funding Corporation | 3.5000 | 04/12/28 | 980,391 | ||||||||||
1,250,000 | Federal Farm Credit Banks Funding Corporation | 3.6250 | 07/24/28 | 1,230,460 | ||||||||||
1,000,000 | Federal Farm Credit Banks Funding Corporation | 4.2500 | 12/15/28 | 1,015,873 | ||||||||||
1,600,000 | Federal Farm Credit Banks Funding Corporation | 4.5000 | 03/09/29 | 1,638,529 | ||||||||||
2,000,000 | Federal Farm Credit Banks Funding Corporation | 4.6250 | 04/05/29 | 2,064,976 | ||||||||||
1,000,000 | Federal Home Loan Mortgage Corporation | 5.2000 | 05/17/24 | 999,231 | ||||||||||
1,500,000 | Federal Home Loan Mortgage Corporation | 5.2500 | 12/09/24 | 1,499,219 | ||||||||||
17,896,870 | ||||||||||||||
TOTAL U.S. GOVERNMENT & AGENCIES (Cost $29,289,065) | 29,173,835 | |||||||||||||
TOTAL INVESTMENTS - 97.2% (Cost $130,546,244) | $ | 127,546,923 | ||||||||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 2.8% | 3,674,708 | |||||||||||||
NET ASSETS - 100.0% | $ | 131,221,631 |
LLC | - Limited Liability Company |
L.P. | - Limited Partnership |
LTD | - Limited Company |
H15T1Y | US Treasury Yield Curve Rate T Note Constant Maturity 1 Year |
SOFRRATE | United States SOFR Secured Overnight Financing Rate |
TSFR3M | CME Term SOFR 3 Month |
1. | Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2023 the total market value of 144A securities is $15,549,237 or 11.9% of net assets. |
2. | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. |
3. | Percentage rounds to less than 0.1%. |
See accompanying notes to financial statements.
E V E N T I D E | 52 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Funds |
STATEMENTS OF ASSETS AND LIABILITIES (Unaudited) |
December 31, 2023 |
Eventide | Eventide | Eventide | ||||||||||||||||||
Eventide | Core Bond | Dividend | Exponential | Eventide | ||||||||||||||||
Balanced Fund | Fund | Opportunities Fund | Technologies Fund | Gilead Fund | ||||||||||||||||
ASSETS | ||||||||||||||||||||
Investment securities: | ||||||||||||||||||||
Unaffiliated investments at cost | $ | 310,583,395 | $ | 114,731,116 | $ | 540,701,037 | $ | 88,690,693 | $ | 2,096,115,167 | ||||||||||
Affiliated investments at cost | — | — | — | — | 303,794,726 | |||||||||||||||
Total Investments at cost | 310,583,395 | 114,731,116 | 540,701,037 | 88,690,693 | 2,399,909,893 | |||||||||||||||
Unaffiliated investments at value | $ | 339,220,305 | $ | 111,010,863 | $ | 664,155,703 | $ | 123,753,534 | $ | 3,386,805,559 | ||||||||||
Affiliated investments at value | — | — | — | — | 299,078,797 | |||||||||||||||
Total investments at value | 339,220,305 | 111,010,863 | 664,155,703 | 123,753,534 | 3,685,884,356 | |||||||||||||||
Cash held at custodian | 3,822,299 | 3,280,781 | 9,894,786 | 3,981,342 | 140,198,805 | |||||||||||||||
Cash held at broker | 109,302 | — | 105,503 | 217,550 | 121,179 | |||||||||||||||
Receivable for securities sold | — | — | — | — | 5,170,311 | |||||||||||||||
Receivable for Fund shares sold | 1,381,185 | 262,109 | 1,725,022 | 73,564 | 1,680,430 | |||||||||||||||
Dividends and interest receivable | 1,381,205 | 938,400 | 348,569 | 36,855 | 1,011,762 | |||||||||||||||
Prepaid expenses and other assets | 62,272 | 5,292 | 93,604 | 36,011 | 143,712 | |||||||||||||||
TOTAL ASSETS | 345,976,568 | 115,497,445 | 676,323,187 | 128,098,856 | 3,834,210,555 | |||||||||||||||
LIABILITIES | ||||||||||||||||||||
Payable for investments purchased | — | 978,005 | — | — | 1,619,315 | |||||||||||||||
Payable for Fund shares repurchased | 742,904 | 39,656 | 472,945 | 255,942 | 7,511,410 | |||||||||||||||
Advisory fees payable | 144,611 | 22,443 | 403,138 | 117,090 | 3,032,403 | |||||||||||||||
Distribution (12b-1) fees payable | 92,592 | 15,571 | 135,972 | 32,826 | 247,785 | |||||||||||||||
Compliance officer fees payable | 816 | 245 | — | — | — | |||||||||||||||
Payable to related parties | 106,735 | 27,792 | 130,207 | 17,448 | 459,819 | |||||||||||||||
Accrued expenses and other liabilities | 120,952 | 28,960 | 136,958 | 42,870 | 929,213 | |||||||||||||||
TOTAL LIABILITIES | 1,208,610 | 1,112,672 | 1,279,220 | 466,176 | 13,799,945 | |||||||||||||||
NET ASSETS | $ | 344,767,958 | $ | 114,384,773 | $ | 675,043,967 | $ | 127,632,680 | $ | 3,820,410,610 | ||||||||||
Composition of Net Assets: | ||||||||||||||||||||
Paid in capital | $ | 329,639,465 | $ | 131,012,350 | $ | 601,389,388 | $ | 151,328,752 | $ | 2,555,070,016 | ||||||||||
Accumulated earnings (losses) | 15,128,493 | (16,627,577 | ) | 73,654,579 | (23,696,072 | ) | 1,265,340,594 | |||||||||||||
NET ASSETS | $ | 344,767,958 | $ | 114,384,773 | $ | 675,043,967 | $ | 127,632,680 | $ | 3,820,410,610 | ||||||||||
See accompanying notes to financial statements.
E V E N T I D E | 53 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Funds |
STATEMENTS OF ASSETS AND LIABILITIES (Unaudited) (Continued) |
December 31, 2023 |
Eventide | Eventide | Eventide | ||||||||||||||||||
Eventide | Core Bond | Dividend | Exponential | Eventide | ||||||||||||||||
Balanced Fund | Fund | Opportunities Fund | Technologies Fund | Gilead Fund | ||||||||||||||||
Net Asset Value Per Share: | ||||||||||||||||||||
Class N Shares: | ||||||||||||||||||||
Net Assets | $ | 28,414,480 | $ | 35,004,664 | $ | 87,298,989 | $ | 23,206,666 | $ | 518,922,203 | ||||||||||
Shares of beneficial interest outstanding 1 | 2,157,315 | 4,232,056 | 5,416,308 | 1,785,984 | 10,268,717 | |||||||||||||||
Net asset value (Net Assets ÷ Shares Outstanding), offering price, and redemption price per share | $ | 13.17 | $ | 8.27 | $ | 16.12 | $ | 12.99 | $ | 50.53 | ||||||||||
Class A Shares: | ||||||||||||||||||||
Net Assets | $ | 26,872,734 | $ | 298,516 | $ | 43,868,430 | $ | 9,272,244 | $ | 361,512,982 | ||||||||||
Shares of beneficial interest outstanding 1 | 2,036,193 | 35,932 | 2,719,937 | 713,613 | 7,204,497 | |||||||||||||||
Net asset value (Net Assets ÷ Shares Outstanding) and redemption price per share | $ | 13.20 | $ | 8.31 | $ | 16.13 | $ | 12.99 | $ | 50.18 | ||||||||||
Maximum offering price per share (net asset value plus maximum sales charge of 5.75%) | $ | 14.01 | $ | 8.82 | $ | 17.11 | $ | 13.78 | $ | 53.24 | ||||||||||
Class C Shares: | ||||||||||||||||||||
Net Assets | $ | 15,866,332 | $ | 217,081 | $ | 16,280,498 | $ | 2,920,859 | $ | 198,915,895 | ||||||||||
Shares of beneficial interest outstanding 1 | 1,211,308 | 26,381 | 1,019,718 | 230,776 | 4,525,593 | |||||||||||||||
Net asset value (Net Assets ÷ Shares Outstanding), offering price, and redemption price per share | $ | 13.10 | $ | 8.23 | $ | 15.97 | $ | 12.66 | $ | 43.95 | ||||||||||
Class I Shares: | ||||||||||||||||||||
Net Assets | $ | 273,614,412 | $ | 78,864,512 | $ | 527,596,050 | $ | 92,232,911 | $ | 2,741,059,530 | ||||||||||
Shares of beneficial interest outstanding 1 | 20,770,602 | 9,534,597 | 32,705,290 | 7,044,193 | 52,491,555 | |||||||||||||||
Net asset value (Net Assets ÷ Shares Outstanding), offering price, and redemption price per share | $ | 13.17 | $ | 8.27 | $ | 16.13 | $ | 13.09 | $ | 52.22 | ||||||||||
1. | Unlimited number of shares of beneficial interest authorized, no par value. |
See accompanying notes to financial statements.
E V E N T I D E | 54 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Funds |
STATEMENTS OF ASSETS AND LIABILITIES (Unaudited) (Continued) |
December 31, 2023 |
Eventide | Eventide | Eventide | ||||||||||
Healthcare & | Large Cap | Limited-Term | ||||||||||
Life Sciences Fund | Focus Fund | Bond Fund | ||||||||||
ASSETS | ||||||||||||
Investment securities: | ||||||||||||
Unaffiliated investments at cost | $ | 1,092,649,808 | $ | 26,060,474 | $ | 130,546,244 | ||||||
Affiliated investments at cost | 378,011,231 | — | — | |||||||||
Investments at cost | 1,470,661,039 | 26,060,474 | 130,546,244 | |||||||||
Unaffiliated investments at value | $ | 1,312,728,024 | $ | 30,850,430 | $ | 127,546,923 | ||||||
Affiliated investments at value | 306,010,447 | — | — | |||||||||
Total investments at value | 1,618,738,471 | 30,850,430 | 127,546,923 | |||||||||
Cash held at custodian | 51,802,123 | 1,349,632 | 3,276,944 | |||||||||
Cash held at broker | 113,894 | — | — | |||||||||
Receivable for securities sold | 949,451 | — | — | |||||||||
Receivable for Fund shares sold | 1,316,664 | 198,906 | 131,024 | |||||||||
Dividends and interest receivable | 547,466 | 13,866 | 1,152,035 | |||||||||
Prepaid expenses and other assets | 88,624 | 25,757 | 54,045 | |||||||||
TOTAL ASSETS | 1,673,556,693 | 32,438,591 | 132,160,971 | |||||||||
LIABILITIES | ||||||||||||
Payable for investments purchased | 3,390,044 | 1,367,459 | 705,180 | |||||||||
Payable for Fund shares repurchased | 1,013,486 | 10,868 | 57,802 | |||||||||
Advisory fees payable | 1,451,937 | 4,688 | 11,023 | |||||||||
Distribution (12b-1) fees payable | 123,902 | — | 10,663 | |||||||||
Compliance officer fees payable | — | — | 485 | |||||||||
Payable to related parties | 121,848 | 8,406 | 71,602 | |||||||||
Accrued expenses and other liabilities | 407,703 | 13,558 | 82,585 | |||||||||
TOTAL LIABILITIES | 6,508,920 | 1,404,979 | 939,340 | |||||||||
NET ASSETS | $ | 1,667,047,773 | $ | 31,033,612 | $ | 131,221,631 | ||||||
Composition of Net Assets: | ||||||||||||
Paid in capital | $ | 1,536,966,718 | $ | 27,009,915 | $ | 142,277,130 | ||||||
Accumulated earnings (losses) | 130,081,055 | 4,023,697 | (11,055,499 | ) | ||||||||
NET ASSETS | $ | 1,667,047,773 | $ | 31,033,612 | $ | 131,221,631 | ||||||
See accompanying notes to financial statements.
E V E N T I D E | 55 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Funds |
STATEMENTS OF ASSETS AND LIABILITIES (Unaudited) (Continued) |
December 31, 2023 |
Eventide | Eventide | Eventide | ||||||||||
Healthcare & | Large Cap | Limited-Term | ||||||||||
Life Sciences Fund | Focus Fund | Bond Fund | ||||||||||
Net Asset Value Per Share: | ||||||||||||
Class N Shares: | ||||||||||||
Net Assets | $ | 111,155,541 | $ | 5,687,977 | $ | 17,982,792 | ||||||
Shares of beneficial interest outstanding 1 | 3,071,667 | 458,274 | 1,813,717 | |||||||||
Net asset value (Net Assets ÷ Shares Outstanding), offering price, and redemption price per share | $ | 36.19 | $ | 12.41 | $ | 9.91 | ||||||
Class A Shares: | ||||||||||||
Net Assets | $ | 142,912,062 | $ | 602,949 | $ | 10,811,065 | ||||||
Shares of beneficial interest outstanding 1 | 3,979,322 | 48,655 | 1,087,752 | |||||||||
Net asset value (Net Assets ÷ Shares Outstanding) and redemption price per share | $ | 35.91 | $ | 12.39 | $ | 9.94 | ||||||
Maximum offering price per share (net asset value plus maximum sales charge of 5.75%) | $ | 38.10 | $ | 13.15 | $ | 10.55 | ||||||
Class C Shares: | ||||||||||||
Net Assets | $ | 67,215,046 | $ | 46,332 | $ | 1,323,179 | ||||||
Shares of beneficial interest outstanding 1 | 2,045,754 | 3,775 | 134,021 | |||||||||
Net asset value (Net Assets ÷ Shares Outstanding), offering price, and redemption price per share | $ | 32.86 | $ | 12.27 | $ | 9.87 | ||||||
Class I Shares: | ||||||||||||
Net Assets | $ | 1,345,765,124 | $ | 24,696,354 | $ | 101,104,595 | ||||||
Shares of beneficial interest outstanding 1 | 36,361,060 | 1,987,179 | 9,938,664 | |||||||||
Net asset value (Net Assets ÷ Shares Outstanding), offering price, and redemption price per share | $ | 37.01 | $ | 12.43 | $ | 10.17 | ||||||
1. | Unlimited number of shares of beneficial interest authorized, no par value. |
See accompanying notes to financial statements.
E V E N T I D E | 56 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Funds |
STATEMENTS OF OPERATIONS (Unaudited) |
For the Six Months Ended December 31, 2023 |
Eventide | Eventide | Eventide | ||||||||||||||||||
Eventide | Core Bond | Dividend | Exponential | Eventide | ||||||||||||||||
Balanced Fund | Fund | Opportunities Fund | Technologies Fund | Gilead Fund | ||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||||||
Dividend income | $ | 1,300,951 | $ | — | $ | 4,581,352 | $ | 64,233 | $ | 8,828,643 | ||||||||||
Interest | 2,922,891 | 1,652,223 | 500,450 | 89,163 | 4,129,134 | |||||||||||||||
Less: Foreign dividend withholding taxes | — | — | (149 | ) | (628 | ) | (299,754 | ) | ||||||||||||
TOTAL INVESTMENT INCOME | 4,223,842 | 1,652,223 | 5,081,653 | 152,768 | 12,658,023 | |||||||||||||||
EXPENSES | ||||||||||||||||||||
Investment advisory fees | 995,429 | 142,173 | 2,200,874 | 631,554 | 17,613,759 | |||||||||||||||
Distribution (12b-1) fees: | ||||||||||||||||||||
Class N | 29,508 | 35,760 | 91,288 | 21,524 | 499,711 | |||||||||||||||
Class A | 31,559 | 426 | 48,017 | 10,391 | 426,978 | |||||||||||||||
Class C | 78,416 | 1,041 | 75,945 | 13,168 | 988,092 | |||||||||||||||
Shareholder servicing fees | 200,635 | 49,150 | 331,200 | 81,121 | 1,949,392 | |||||||||||||||
Printing and postage expenses | 85,698 | 13,833 | 92,245 | 12,350 | 181,479 | |||||||||||||||
Financial administration/fund accounting fees | 73,414 | 22,809 | 90,209 | 24,094 | 476,920 | |||||||||||||||
Registration fees | 50,600 | 34,040 | 50,600 | 35,144 | 73,600 | |||||||||||||||
Legal administration/management services fees | 34,799 | 8,766 | 63,253 | 12,032 | 380,752 | |||||||||||||||
Transfer agent fees | 21,633 | 8,679 | 26,998 | 16,041 | 163,559 | |||||||||||||||
Custodian fees | 11,539 | 2,721 | 11,263 | 4,964 | 118,921 | |||||||||||||||
Legal fees | 10,480 | 9,155 | 10,056 | 11,379 | 17,640 | |||||||||||||||
Compliance officer fees | 9,336 | 5,835 | 8,981 | 5,253 | 69,274 | |||||||||||||||
Audit fees | 8,571 | 7,435 | 6,554 | 6,427 | 16,131 | |||||||||||||||
Trustees fees and expenses | 6,856 | 6,856 | 6,856 | 6,856 | 6,856 | |||||||||||||||
Insurance expense | 6,440 | 1,840 | 6,440 | 1,288 | 55,200 | |||||||||||||||
Other expenses | 2,252 | 2,773 | 2,773 | 2,318 | 6,326 | |||||||||||||||
TOTAL EXPENSES | 1,657,165 | 353,292 | 3,123,552 | 895,904 | 23,044,590 | |||||||||||||||
Less: Fees waived/reimbursed by the Advisor | (157,026 | ) | (72,967 | ) | (41,498 | ) | (29,311 | ) | — | |||||||||||
NET EXPENSES | 1,500,139 | 280,325 | 3,082,054 | 866,593 | 23,044,590 | |||||||||||||||
NET INVESTMENT INCOME (LOSS) | 2,723,703 | 1,371,898 | 1,999,599 | (713,825 | ) | (10,386,567 | ) | |||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) FROM INVESTMENTS | ||||||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||||||
Unaffiliated investments | 38,403 | (1,724,632 | ) | (7,033,328 | ) | (1,710,329 | ) | 41,786,937 | ||||||||||||
Foreign currency transactions | — | — | — | (1,910 | ) | (28,609 | ) | |||||||||||||
Net realized gain (loss) from: | 38,403 | (1,724,632 | ) | (7,033,328 | ) | (1,712,239 | ) | 41,758,328 | ||||||||||||
Net change in unrealized appreciation on: | ||||||||||||||||||||
Unaffiliated investments | 19,051,349 | 4,244,491 | 66,839,005 | 12,446,416 | 81,259,543 | |||||||||||||||
Affiliated investments (See Note 5) | — | — | — | — | 51,869,320 | |||||||||||||||
Net change in unrealized appreciation on: | 19,051,349 | 4,244,491 | 66,839,005 | 12,446,416 | 133,128,863 | |||||||||||||||
NET REALIZED AND UNREALIZED GAIN FROM INVESTMENTS | 19,089,752 | 2,519,859 | 59,805,677 | 10,734,177 | 174,887,191 | |||||||||||||||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $ | 21,813,455 | $ | 3,891,757 | $ | 61,805,276 | $ | 10,020,352 | $ | 164,500,624 | ||||||||||
See accompanying notes to financial statements.
E V E N T I D E | 57 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Funds |
STATEMENTS OF OPERATIONS (Unaudited) (Continued) |
For the Six Months Ended December 31, 2023 |
Eventide | Eventide | Eventide | ||||||||||
Healthcare & | Large Cap | Limited-Term | ||||||||||
Life Sciences Fund | Focus Fund | Bond Fund | ||||||||||
INVESTMENT INCOME | ||||||||||||
Dividend income | $ | — | $ | 47,409 | $ | — | ||||||
Interest | 2,485,292 | 37,916 | 2,177,879 | |||||||||
Less: Foreign dividend withholding taxes | — | (1,708 | ) | — | ||||||||
TOTAL INVESTMENT INCOME | 2,485,292 | 83,617 | 2,177,879 | |||||||||
EXPENSES | ||||||||||||
Investment advisory fees | 8,796,916 | 73,537 | 202,386 | |||||||||
Distribution (12b-1) fees: | ||||||||||||
Class N | 117,726 | 1,838 | 17,369 | |||||||||
Class A | 171,297 | 421 | 16,718 | |||||||||
Class C | 332,430 | 194 | 7,537 | |||||||||
Shareholder servicing fees | 907,398 | 8,546 | 108,383 | |||||||||
Financial administration/fund accounting fees | 234,046 | 8,138 | 39,949 | |||||||||
Legal administration/management services fees | 167,426 | 2,120 | 13,705 | |||||||||
Transfer agent fees | 89,078 | 9,746 | 13,680 | |||||||||
Printing and postage expenses | 85,698 | 2,546 | 44,866 | |||||||||
Registration fees | 64,400 | 18,400 | 33,120 | |||||||||
Audit fees | 64,090 | 6,806 | 8,571 | |||||||||
Custodian fees | 42,346 | 6,050 | 6,008 | |||||||||
Insurance expense | 26,680 | 184 | 2,760 | |||||||||
Compliance officer fees | 26,649 | 3,509 | 6,593 | |||||||||
Legal fees | 12,995 | 7,634 | 6,814 | |||||||||
Trustees fees and expenses | 6,856 | 6,856 | 6,856 | |||||||||
Other expenses | 5,042 | 1,764 | 2,269 | |||||||||
TOTAL EXPENSES | 11,151,073 | 158,289 | 537,584 | |||||||||
Less: Fees waived/reimbursed by the Advisor | — | (60,663 | ) | (136,899 | ) | |||||||
NET EXPENSES | 11,151,073 | 97,626 | 400,685 | |||||||||
NET INVESTMENT INCOME (LOSS) | (8,665,781 | ) | (14,009 | ) | 1,777,194 | |||||||
REALIZED AND UNREALIZED GAIN (LOSS) FROM INVESTMENTS | ||||||||||||
Net realized gain (loss) from: | ||||||||||||
Unaffiliated investments | 56,463,624 | (443,789 | ) | (484,165 | ) | |||||||
Affiliated investments (See Note 5) | (2,487,246 | ) | — | — | ||||||||
Foreign currency transactions | — | 1 | — | |||||||||
Net realized gain (loss) from: | 53,976,378 | (443,788 | ) | (484,165 | ) | |||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||
Unaffiliated investments | (8,873,815 | ) | 3,106,172 | 3,641,009 | ||||||||
Affiliated investments (See Note 5) | (67,916,948 | ) | — | — | ||||||||
Net change in unrealized appreciation (depreciation) on: | (76,790,763 | ) | 3,106,172 | 3,641,009 | ||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) FROM INVESTMENTS | (22,814,385 | ) | 2,662,384 | 3,156,844 | ||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | (31,480,166 | ) | $ | 2,648,375 | $ | 4,934,038 | |||||
See accompanying notes to financial statements.
E V E N T I D E | 58 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund |
STATEMENTS OF CHANGES IN NET ASSETS |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 | |||||||
FROM OPERATIONS | ||||||||
Net investment income | $ | 2,723,703 | $ | 5,151,980 | ||||
Net realized gain (loss) from investments and foreign currency transactions | 38,403 | (14,479,724 | ) | |||||
Net change in unrealized appreciation on investments | 19,051,349 | 26,607,153 | ||||||
Net increase in net assets resulting from operations | 21,813,455 | 17,279,409 | ||||||
DISTRIBUTIONS TO SHAREHOLDERS | ||||||||
From Accumulated Earnings | ||||||||
Class N | (213,948 | ) | (1,025,429 | ) | ||||
Class A | (176,531 | ) | (587,205 | ) | ||||
Class C | (57,527 | ) | (258,344 | ) | ||||
Class I | (2,164,137 | ) | (6,650,735 | ) | ||||
Return of Capital | ||||||||
Class N | — | (123,456 | ) | |||||
Class A | — | (77,622 | ) | |||||
Class C | — | (50,944 | ) | |||||
Class I | — | (787,757 | ) | |||||
Total distributions to shareholders | (2,612,143 | ) | (9,561,492 | ) | ||||
FROM SHARES OF BENEFICIAL INTEREST | ||||||||
Proceeds from shares sold: | ||||||||
Class N | 4,092,965 | 49,176,092 | ||||||
Class A | 2,407,803 | 4,205,289 | ||||||
Class C | 898,923 | 2,132,876 | ||||||
Class I | 36,896,852 | 75,332,706 | ||||||
Net asset value of shares issued in reinvestment of distributions: | ||||||||
Class N | 203,554 | 1,104,953 | ||||||
Class A | 155,889 | 591,647 | ||||||
Class C | 53,430 | 289,078 | ||||||
Class I | 1,981,410 | 6,830,607 | ||||||
Payments for shares repurchased: | ||||||||
Class N | (8,094,026 | ) | (54,627,872 | ) | ||||
Class A | (2,735,747 | ) | (5,644,099 | ) | ||||
Class C | (2,144,390 | ) | (4,809,955 | ) | ||||
Class I | (41,214,264 | ) | (97,402,343 | ) | ||||
Net decrease in net assets from shares of beneficial interest | (7,497,601 | ) | (22,821,021 | ) | ||||
TOTAL INCREASE (DECREASE) IN NET ASSETS | 11,703,711 | (15,103,104 | ) | |||||
NET ASSETS | ||||||||
Beginning of Period/Year | 333,064,247 | 348,167,351 | ||||||
End of Period/Year | $ | 344,767,958 | $ | 333,064,247 | ||||
See accompanying notes to financial statements.
E V E N T I D E | 59 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund |
STATEMENTS OF CHANGES IN NET ASSETS (Continued) |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 | |||||||
SHARE ACTIVITY | ||||||||
Class N: | ||||||||
Shares Sold | 331,980 | 4,036,342 | ||||||
Shares Reinvested | 16,363 | 91,129 | ||||||
Shares Repurchased | (652,393 | ) | (4,542,574 | ) | ||||
Net decrease in shares of beneficial interest outstanding | (304,050 | ) | (415,103 | ) | ||||
Class A: | ||||||||
Shares Sold | 190,651 | 342,410 | ||||||
Shares Reinvested | 12,510 | 48,591 | ||||||
Shares Repurchased | (218,951 | ) | (459,232 | ) | ||||
Net decrease in shares of beneficial interest outstanding | (15,790 | ) | (68,231 | ) | ||||
Class C: | ||||||||
Shares Sold | 72,553 | 175,582 | ||||||
Shares Reinvested | 4,326 | 23,934 | ||||||
Shares Repurchased | (172,991 | ) | (397,078 | ) | ||||
Net decrease in shares of beneficial interest outstanding | (96,112 | ) | (197,562 | ) | ||||
Class I: | ||||||||
Shares Sold | 2,966,365 | 6,177,662 | ||||||
Shares Reinvested | 159,198 | 561,831 | ||||||
Shares Repurchased | (3,308,070 | ) | (8,014,650 | ) | ||||
Net decrease in shares of beneficial interest outstanding | (182,507 | ) | (1,275,157 | ) | ||||
See accompanying notes to financial statements.
E V E N T I D E | 60 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Core Bond Fund |
STATEMENTS OF CHANGES IN NET ASSETS |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 | |||||||
FROM OPERATIONS | ||||||||
Net investment income | $ | 1,371,898 | $ | 1,497,137 | ||||
Net realized loss from investments | (1,724,632 | ) | (3,797,575 | ) | ||||
Net change in unrealized appreciation on investments | 4,244,491 | 1,383,710 | ||||||
Net increase (decrease) in net assets resulting from operations | 3,891,757 | (916,728 | ) | |||||
DISTRIBUTIONS TO SHAREHOLDERS | ||||||||
From Accumulated Earnings | ||||||||
Class N | (521,908 | ) | (791,346 | ) | ||||
Class A | (4,281 | ) | (6,663 | ) | ||||
Class C | (2,308 | ) | (3,378 | ) | ||||
Class I | (904,370 | ) | (735,595 | ) | ||||
Total distributions to shareholders | (1,432,867 | ) | (1,536,982 | ) | ||||
FROM SHARES OF BENEFICIAL INTEREST | ||||||||
Proceeds from shares sold: | ||||||||
Class N | 3,482,237 | 19,475,162 | ||||||
Class A | 64,314 | 246,372 | ||||||
Class C | 10,514 | 34,274 | ||||||
Class I | 59,526,948 | 34,388,084 | ||||||
Net asset value of shares issued in reinvestment of distributions: | ||||||||
Class N | 520,249 | 790,735 | ||||||
Class A | 4,223 | 6,663 | ||||||
Class C | 2,308 | 3,364 | ||||||
Class I | 549,989 | 615,819 | ||||||
Payments for shares repurchased: | ||||||||
Class N | (6,895,052 | ) | (39,413,830 | ) | ||||
Class A | (187,926 | ) | (30,999 | ) | ||||
Class C | (19,600 | ) | (33,678 | ) | ||||
Class I | (22,510,420 | ) | (8,715,146 | ) | ||||
Net increase in net assets from shares of beneficial interest | 34,547,784 | 7,366,820 | ||||||
TOTAL INCREASE IN NET ASSETS | 37,006,674 | 4,913,110 | ||||||
NET ASSETS | ||||||||
Beginning of Period/Year | 77,378,099 | 42,646,989 | ||||||
End of Period/Year | $ | 114,384,773 | $ | 77,378,099 | ||||
See accompanying notes to financial statements.
E V E N T I D E | 61 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Core Bond Fund |
STATEMENTS OF CHANGES IN NET ASSETS (Continued) |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 | |||||||
SHARE ACTIVITY | ||||||||
Class N: | ||||||||
Shares Sold | 427,314 | 2,362,456 | ||||||
Shares Reinvested | 64,804 | 97,444 | ||||||
Shares Repurchased | (855,845 | ) | (4,782,659 | ) | ||||
Net decrease in shares of beneficial interest outstanding | (363,727 | ) | (2,322,759 | ) | ||||
Class A: | ||||||||
Shares Sold | 7,957 | 29,981 | ||||||
Shares Reinvested | 523 | 816 | ||||||
Shares Repurchased | (22,894 | ) | (3,796 | ) | ||||
Net increase (decrease) in shares of beneficial interest outstanding | (14,414 | ) | 27,001 | |||||
Class C: | ||||||||
Shares Sold | 1,317 | 4,110 | ||||||
Shares Reinvested | 289 | 416 | ||||||
Shares Repurchased | (2,425 | ) | (4,147 | ) | ||||
Net increase (decrease) in shares of beneficial interest outstanding | (819 | ) | 379 | |||||
Class I: | ||||||||
Shares Sold | 7,449,458 | 4,159,816 | ||||||
Shares Reinvested | 68,207 | 75,784 | ||||||
Shares Repurchased | (2,806,605 | ) | (1,062,677 | ) | ||||
Net increase in shares of beneficial interest outstanding | 4,711,060 | 3,172,923 | ||||||
See accompanying notes to financial statements.
E V E N T I D E | 62 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Dividend Opportunities Fund |
STATEMENTS OF CHANGES IN NET ASSETS |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 | |||||||
FROM OPERATIONS | ||||||||
Net investment income | $ | 1,999,599 | $ | 4,442,752 | ||||
Net realized loss from investments | (7,033,328 | ) | (44,373,084 | ) | ||||
Net change in unrealized appreciation on investments | 66,839,005 | 90,497,053 | ||||||
Net increase in net assets resulting from operations | 61,805,276 | 50,566,721 | ||||||
DISTRIBUTIONS TO SHAREHOLDERS | ||||||||
From Accumulated Earnings | ||||||||
Class N | (170,273 | ) | (1,203,965 | ) | ||||
Class A | (68,382 | ) | (378,484 | ) | ||||
Class C | — | (76,849 | ) | |||||
Class I | (1,391,392 | ) | (5,200,706 | ) | ||||
Return of Capital | ||||||||
Class N | — | (92,962 | ) | |||||
Class A | — | (102,479 | ) | |||||
Class C | — | (9,900 | ) | |||||
Class I | — | (908,635 | ) | |||||
Total distributions to shareholders | (1,630,047 | ) | (7,973,980 | ) | ||||
FROM SHARES OF BENEFICIAL INTEREST | ||||||||
Proceeds from shares sold: | ||||||||
Class N | 10,533,909 | 42,168,215 | ||||||
Class A | 5,754,648 | 13,780,142 | ||||||
Class C | 1,733,235 | 6,546,046 | ||||||
Class I | 128,055,836 | 232,281,533 | ||||||
Net asset value of shares issued in reinvestment of distributions: | ||||||||
Class N | 167,128 | 1,267,578 | ||||||
Class A | 65,687 | 463,082 | ||||||
Class C | — | 84,188 | ||||||
Class I | 1,249,659 | 5,504,373 | ||||||
Payments for shares repurchased: | ||||||||
Class N | (23,917,498 | ) | (33,157,570 | ) | ||||
Class A | (2,604,187 | ) | (9,749,781 | ) | ||||
Class C | (1,779,155 | ) | (2,812,230 | ) | ||||
Class I | (78,199,559 | ) | (145,117,850 | ) | ||||
Net increase in net assets from shares of beneficial interest | 41,059,703 | 111,257,726 | ||||||
TOTAL INCREASE IN NET ASSETS | 101,234,932 | 153,850,467 | ||||||
NET ASSETS | ||||||||
Beginning of Period/Year | 573,809,035 | 419,958,568 | ||||||
End of Period/Year | $ | 675,043,967 | $ | 573,809,035 | ||||
See accompanying notes to financial statements.
E V E N T I D E | 63 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Dividend Opportunities Fund |
STATEMENTS OF CHANGES IN NET ASSETS (Continued) |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 | |||||||
SHARE ACTIVITY | ||||||||
Class N: | ||||||||
Shares Sold | 703,686 | 3,006,122 | ||||||
Shares Reinvested | 11,062 | 92,382 | ||||||
Shares Repurchased | (1,571,580 | ) | (2,406,922 | ) | ||||
Net increase (decrease) in shares of beneficial interest outstanding | (856,832 | ) | 691,582 | |||||
Class A: | ||||||||
Shares Sold | 385,584 | 985,242 | ||||||
Shares Reinvested | 4,322 | 33,666 | ||||||
Shares Repurchased | (175,076 | ) | (691,004 | ) | ||||
Net increase in shares of beneficial interest outstanding | 214,830 | 327,904 | ||||||
Class C: | ||||||||
Shares Sold | 116,859 | 475,330 | ||||||
Shares Reinvested | — | 6,152 | ||||||
Shares Repurchased | (120,882 | ) | (205,600 | ) | ||||
Net increase (decrease) in shares of beneficial interest outstanding | (4,023 | ) | 275,882 | |||||
Class I: | ||||||||
Shares Sold | 8,531,125 | 16,642,155 | ||||||
Shares Reinvested | 81,721 | 400,250 | ||||||
Shares Repurchased | (5,250,516 | ) | (10,457,863 | ) | ||||
Net increase in shares of beneficial interest outstanding | 3,362,330 | 6,584,542 | ||||||
See accompanying notes to financial statements.
E V E N T I D E | 64 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Exponential Technologies Fund |
STATEMENTS OF CHANGES IN NET ASSETS |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 | |||||||
FROM OPERATIONS | ||||||||
Net investment loss | $ | (713,825 | ) | $ | (1,082,795 | ) | ||
Net realized loss from investments and foreign currency transactions | (1,712,239 | ) | (25,591,542 | ) | ||||
Net change in unrealized appreciation on investments | 12,446,416 | 35,911,605 | ||||||
Net increase in net assets resulting from operations | 10,020,352 | 9,237,268 | ||||||
FROM SHARES OF BENEFICIAL INTEREST | ||||||||
Proceeds from shares sold: | ||||||||
Class N | 4,098,612 | 13,244,258 | ||||||
Class A | 933,530 | 1,781,643 | ||||||
Class C | 300,212 | 628,624 | ||||||
Class I | 14,227,072 | 47,180,850 | ||||||
Redemption fee proceeds: | ||||||||
Class N | 81 | 17,663 | ||||||
Class A | 31 | 9,414 | ||||||
Class C | 10 | 3,021 | ||||||
Class I | 303 | 92,427 | ||||||
Payments for shares repurchased: | ||||||||
Class N | (4,815,100 | ) | (5,852,092 | ) | ||||
Class A | (626,556 | ) | (1,638,384 | ) | ||||
Class C | (230,604 | ) | (627,686 | ) | ||||
Class I | (12,087,963 | ) | (43,109,040 | ) | ||||
Net increase in net assets from shares of beneficial interest | 1,799,628 | 11,730,698 | ||||||
TOTAL INCREASE IN NET ASSETS | 11,819,980 | 20,967,966 | ||||||
NET ASSETS | ||||||||
Beginning of Period/Year | 115,812,700 | 94,844,734 | ||||||
End of Period/Year | $ | 127,632,680 | $ | 115,812,700 | ||||
See accompanying notes to financial statements.
E V E N T I D E | 65 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Exponential Technologies Fund |
STATEMENTS OF CHANGES IN NET ASSETS (Continued) |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 | |||||||
SHARE ACTIVITY | ||||||||
Class N: | ||||||||
Shares Sold | 337,915 | 1,258,489 | ||||||
Shares Repurchased | (400,760 | ) | (551,922 | ) | ||||
Net increase (decrease) in shares of beneficial interest outstanding | (62,845 | ) | 706,567 | |||||
Class A: | ||||||||
Shares Sold | 78,975 | 162,981 | ||||||
Shares Repurchased | (53,321 | ) | (149,936 | ) | ||||
Net increase in shares of beneficial interest outstanding | 25,654 | 13,045 | ||||||
Class C: | ||||||||
Shares Sold | 26,114 | 58,336 | ||||||
Shares Repurchased | (19,894 | ) | (58,741 | ) | ||||
Net increase (decrease) in shares of beneficial interest outstanding | 6,220 | (405 | ) | |||||
Class I: | ||||||||
Shares Sold | 1,209,620 | 4,159,896 | ||||||
Shares Repurchased | (1,014,435 | ) | (3,923,676 | ) | ||||
Net increase in shares of beneficial interest outstanding | 195,185 | 236,220 | ||||||
See accompanying notes to financial statements.
E V E N T I D E | 66 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Gilead Fund |
STATEMENTS OF CHANGES IN NET ASSETS |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 | |||||||
FROM OPERATIONS | ||||||||
Net investment loss | $ | (10,386,567 | ) | $ | (18,202,004 | ) | ||
Net realized gain (loss) from investments and foreign currency transactions | 41,758,328 | (50,832,143 | ) | |||||
Net change in unrealized appreciation on investments | 133,128,863 | 575,636,075 | ||||||
Net increase in net assets resulting from operations | 164,500,624 | 506,601,928 | ||||||
DISTRIBUTIONS TO SHAREHOLDERS | ||||||||
Class N | — | (26,502,428 | ) | |||||
Class A | — | (15,537,719 | ) | |||||
Class C | — | (13,038,729 | ) | |||||
Class I | — | (117,168,110 | ) | |||||
Total distributions to shareholders | — | (172,246,986 | ) | |||||
FROM SHARES OF BENEFICIAL INTEREST | ||||||||
Proceeds from shares sold: | ||||||||
Class N | 37,540,834 | 88,745,999 | ||||||
Class A | 27,223,585 | 55,727,869 | ||||||
Class C | 5,724,423 | 14,904,069 | ||||||
Class I | 313,863,815 | 640,408,718 | ||||||
Net asset value of shares issued in reinvestment of distributions: | ||||||||
Class N | — | 25,204,656 | ||||||
Class A | — | 14,252,437 | ||||||
Class C | — | 12,562,355 | ||||||
Class I | — | 103,966,493 | ||||||
Payments for shares repurchased: | ||||||||
Class N | (67,791,600 | ) | (163,362,221 | ) | ||||
Class A | (33,055,333 | ) | (50,748,542 | ) | ||||
Class C | (32,426,891 | ) | (61,602,217 | ) | ||||
Class I | (355,806,738 | ) | (730,773,548 | ) | ||||
Net decrease in net assets from shares of beneficial interest | (104,727,905 | ) | (50,713,932 | ) | ||||
TOTAL INCREASE IN NET ASSETS | 59,772,719 | 283,641,010 | ||||||
NET ASSETS | ||||||||
Beginning of Period/Year | 3,760,637,891 | 3,476,996,881 | ||||||
End of Period/Year | $ | 3,820,410,610 | $ | 3,760,637,891 | ||||
See accompanying notes to financial statements.
E V E N T I D E | 67 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Gilead Fund |
STATEMENTS OF CHANGES IN NET ASSETS (Continued) |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 | |||||||
SHARE ACTIVITY | ||||||||
Class N: | ||||||||
Shares Sold | 794,804 | 1,959,635 | ||||||
Shares Reinvested | — | 594,029 | ||||||
Shares Repurchased | (1,444,452 | ) | (3,651,814 | ) | ||||
Net decrease in shares of beneficial interest outstanding | (649,648 | ) | (1,098,150 | ) | ||||
Class A: | ||||||||
Shares Sold | 582,919 | 1,244,030 | ||||||
Shares Reinvested | — | 338,136 | ||||||
Shares Repurchased | (719,118 | ) | (1,135,497 | ) | ||||
Net increase (decrease) in shares of beneficial interest outstanding | (136,199 | ) | 446,669 | |||||
Class C: | ||||||||
Shares Sold | 140,054 | 372,502 | ||||||
Shares Reinvested | — | 337,607 | ||||||
Shares Repurchased | (794,119 | ) | (1,566,252 | ) | ||||
Net decrease in shares of beneficial interest outstanding | (654,065 | ) | (856,143 | ) | ||||
Class I: | ||||||||
Shares Sold | 6,497,658 | 13,786,761 | ||||||
Shares Reinvested | — | 2,376,377 | ||||||
Shares Repurchased | (7,470,133 | ) | (15,809,021 | ) | ||||
Net increase (decrease) in shares of beneficial interest outstanding | (972,475 | ) | 354,117 | |||||
See accompanying notes to financial statements.
E V E N T I D E | 68 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Healthcare & Life Sciences Fund |
STATEMENTS OF CHANGES IN NET ASSETS |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 | |||||||
FROM OPERATIONS | ||||||||
Net investment loss | $ | (8,665,781 | ) | $ | (16,468,559 | ) | ||
Net realized gain from investments | 53,976,378 | 87,672,175 | ||||||
Net change in unrealized appreciation (depreciation) on investments | (76,790,763 | ) | 429,893,252 | |||||
Net increase (decrease) in net assets resulting from operations | (31,480,166 | ) | 501,096,868 | |||||
FROM SHARES OF BENEFICIAL INTEREST | ||||||||
Proceeds from shares sold: | ||||||||
Class N | 12,842,625 | 24,795,762 | ||||||
Class A | 10,043,518 | 24,063,154 | ||||||
Class C | 3,278,807 | 6,812,105 | ||||||
Class I | 194,530,225 | 410,248,708 | ||||||
Payments for shares repurchased: | ||||||||
Class N | (31,879,490 | ) | (48,550,846 | ) | ||||
Class A | (16,030,437 | ) | (30,091,421 | ) | ||||
Class C | (10,999,187 | ) | (19,599,460 | ) | ||||
Class I | (266,420,578 | ) | (387,178,463 | ) | ||||
Net decrease in net assets from shares of beneficial interest | (104,634,517 | ) | (19,500,461 | ) | ||||
TOTAL INCREASE (DECREASE) IN NET ASSETS | (136,114,683 | ) | 481,596,407 | |||||
NET ASSETS | ||||||||
Beginning of Period/Year | 1,803,162,456 | 1,321,566,049 | ||||||
End of Period/Year | $ | 1,667,047,773 | $ | 1,803,162,456 | ||||
See accompanying notes to financial statements.
E V E N T I D E | 69 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Healthcare & Life Sciences Fund |
STATEMENTS OF CHANGES IN NET ASSETS (Continued) |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 | |||||||
SHARE ACTIVITY | ||||||||
Class N: | ||||||||
Shares Sold | 391,895 | 761,278 | ||||||
Shares Repurchased | (951,262 | ) | (1,502,705 | ) | ||||
Net decrease in shares of beneficial interest outstanding | (559,367 | ) | (741,427 | ) | ||||
Class A: | ||||||||
Shares Sold | 300,141 | 747,325 | ||||||
Shares Repurchased | (496,894 | ) | (923,751 | ) | ||||
Net decrease in shares of beneficial interest outstanding | (196,753 | ) | (176,426 | ) | ||||
Class C: | ||||||||
Shares Sold | 106,959 | 232,446 | ||||||
Shares Repurchased | (363,019 | ) | (661,200 | ) | ||||
Net decrease in shares of beneficial interest outstanding | (256,060 | ) | (428,754 | ) | ||||
Class I: | ||||||||
Shares Sold | 5,762,656 | 12,546,799 | ||||||
Shares Repurchased | (7,894,438 | ) | (11,930,781 | ) | ||||
Net increase (decrease) in shares of beneficial interest outstanding | (2,131,782 | ) | 616,018 | |||||
See accompanying notes to financial statements.
E V E N T I D E | 70 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Large Cap Focus Fund |
STATEMENTS OF CHANGES IN NET ASSETS |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 1 | |||||||
FROM OPERATIONS | ||||||||
Net investment income (loss) | $ | (14,009 | ) | $ | 4,324 | |||
Net realized loss from investments and foreign currency transactions | (443,788 | ) | (308,679 | ) | ||||
Net change in unrealized appreciation on investments | 3,106,172 | 1,683,784 | ||||||
Net increase in net assets resulting from operations | 2,648,375 | 1,379,429 | ||||||
DISTRIBUTIONS TO SHAREHOLDERS | ||||||||
From Accumulated Earnings | ||||||||
Class I | — | (4,107 | ) | |||||
Return of Capital | ||||||||
Class N | — | (35 | ) | |||||
Class A | — | (36 | ) | |||||
Class I | — | (5,720 | ) | |||||
Total distributions to shareholders | — | (9,898 | ) | |||||
FROM SHARES OF BENEFICIAL INTEREST | ||||||||
Proceeds from shares sold: | ||||||||
Class N | 5,158,809 | 524,748 | ||||||
Class A | 392,296 | 249,063 | ||||||
Class C | 16,370 | 24,480 | ||||||
Class I | 14,456,654 | 15,266,218 | ||||||
Net asset value of shares issued in reinvestment of distributions: | ||||||||
Class N | — | 27 | ||||||
Class A | — | 36 | ||||||
Class I | — | 9,440 | ||||||
Payments for shares repurchased: | ||||||||
Class N | (259,989 | ) | (224,466 | ) | ||||
Class A | (16,668 | ) | (79,745 | ) | ||||
Class I | (4,716,938 | ) | (3,784,594 | ) | ||||
Net increase in net assets from shares of beneficial interest | 15,030,499 | 11,985,207 | ||||||
TOTAL INCREASE IN NET ASSETS | 17,678,874 | 13,354,738 | ||||||
NET ASSETS | ||||||||
Beginning of Period/Year | 13,354,738 | — | ||||||
End of Period/Year | $ | 31,033,612 | $ | 13,354,738 | ||||
1. | Eventide Large Cap Focus Fund commenced operations on June 30, 2022. |
See accompanying notes to financial statements.
E V E N T I D E | 71 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Large Cap Focus Fund |
STATEMENTS OF CHANGES IN NET ASSETS (Continued) |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 1 | |||||||
SHARE ACTIVITY | ||||||||
Class N: | ||||||||
Shares Sold | 452,561 | 50,682 | ||||||
Shares Reinvested | — | 3 | ||||||
Shares Repurchased | (23,180 | ) | (21,792 | ) | ||||
Net increase in shares of beneficial interest outstanding | 429,381 | 28,893 | ||||||
Class A: | ||||||||
Shares Sold | 33,575 | 24,367 | ||||||
Shares Reinvested | — | 3 | ||||||
Shares Repurchased | (1,522 | ) | (7,768 | ) | ||||
Net increase in shares of beneficial interest outstanding | 32,053 | 16,602 | ||||||
Class C: | ||||||||
Shares Sold | 1,440 | 2,338 | ||||||
Shares Repurchased | (3 | ) | — | |||||
Net increase in shares of beneficial interest outstanding | 1,437 | 2,338 | ||||||
Class I: | ||||||||
Shares Sold | 1,299,466 | 1,487,132 | ||||||
Shares Reinvested | — | 923 | ||||||
Shares Repurchased | (431,661 | ) | (368,681 | ) | ||||
Net increase in shares of beneficial interest outstanding | 867,805 | 1,119,374 | ||||||
1. | Eventide Large Cap Focus Fund commenced operations on June 30, 2022. |
See accompanying notes to financial statements.
E V E N T I D E | 72 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Limited-Term Bond Fund |
STATEMENTS OF CHANGES IN NET ASSETS |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 | |||||||
FROM OPERATIONS | ||||||||
Net investment income | $ | 1,777,194 | $ | 2,571,717 | ||||
Net realized loss from investments | (484,165 | ) | (5,299,246 | ) | ||||
Net change in unrealized appreciation on investments | 3,641,009 | 4,451,387 | ||||||
Net increase in net assets resulting from operations | 4,934,038 | 1,723,858 | ||||||
DISTRIBUTIONS TO SHAREHOLDERS | ||||||||
From Accumulated Earnings | ||||||||
Class N | (233,685 | ) | (283,263 | ) | ||||
Class A | (161,444 | ) | (302,006 | ) | ||||
Class C | (13,689 | ) | (15,268 | ) | ||||
Class I | (1,396,186 | ) | (2,074,932 | ) | ||||
Return of Capital | ||||||||
Class N | — | (4,462 | ) | |||||
Class A | — | (5,259 | ) | |||||
Class C | — | (487 | ) | |||||
Class I | — | (32,214 | ) | |||||
Total distributions to shareholders | (1,805,004 | ) | (2,717,891 | ) | ||||
FROM SHARES OF BENEFICIAL INTEREST | ||||||||
Proceeds from shares sold: | ||||||||
Class N | 2,538,947 | 21,519,104 | ||||||
Class A | 3,853,577 | 9,487,414 | ||||||
Class C | 49,421 | 1,005,560 | ||||||
Class I | 31,427,268 | 73,533,124 | ||||||
Net asset value of shares issued in reinvestment of distributions: | ||||||||
Class N | 232,966 | 286,917 | ||||||
Class A | 159,690 | 304,810 | ||||||
Class C | 13,689 | 15,678 | ||||||
Class I | 1,294,683 | 1,847,368 | ||||||
Payments for shares repurchased: | ||||||||
Class N | (2,883,660 | ) | (9,928,344 | ) | ||||
Class A | (12,846,186 | ) | (12,462,801 | ) | ||||
Class C | (390,402 | ) | (1,078,599 | ) | ||||
Class I | (22,729,609 | ) | (138,219,235 | ) | ||||
Net increase (decrease) in net assets from shares of beneficial interest | 720,384 | (53,689,004 | ) | |||||
TOTAL INCREASE (DECREASE) IN NET ASSETS | 3,849,418 | (54,683,037 | ) | |||||
NET ASSETS | ||||||||
Beginning of Period/Year | 127,372,213 | 182,055,250 | ||||||
End of Period/Year | $ | 131,221,631 | $ | 127,372,213 | ||||
See accompanying notes to financial statements.
E V E N T I D E | 73 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Limited-Term Bond Fund |
STATEMENTS OF CHANGES IN NET ASSETS (Continued) |
For the | ||||||||
Six Months Ended | For the | |||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 | |||||||
SHARE ACTIVITY | ||||||||
Class N: | ||||||||
Shares Sold | 258,507 | 2,245,504 | ||||||
Shares Reinvested | 23,939 | 29,697 | ||||||
Shares Repurchased | (296,527 | ) | (1,025,667 | ) | ||||
Net increase (decrease) in shares of beneficial interest outstanding | (14,081 | ) | 1,249,534 | |||||
Class A: | ||||||||
Shares Sold | 396,734 | 979,448 | ||||||
Shares Reinvested | 16,382 | 31,459 | ||||||
Shares Repurchased | (1,323,361 | ) | (1,291,906 | ) | ||||
Net decrease in shares of beneficial interest outstanding | (910,245 | ) | (280,999 | ) | ||||
Class C: | ||||||||
Shares Sold | 5,142 | 105,013 | ||||||
Shares Reinvested | 1,413 | 1,629 | ||||||
Shares Repurchased | (40,374 | ) | (112,068 | ) | ||||
Net decrease in shares of beneficial interest outstanding | (33,819 | ) | (5,426 | ) | ||||
Class I: | ||||||||
Shares Sold | 3,158,505 | 7,407,748 | ||||||
Shares Reinvested | 129,720 | 186,484 | ||||||
Shares Repurchased | (2,278,059 | ) | (13,969,448 | ) | ||||
Net increase (decrease) in shares of beneficial interest outstanding | 1,010,166 | (6,375,216 | ) | |||||
See accompanying notes to financial statements.
E V E N T I D E | 74 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class N | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 12.44 | $ | 12.12 | $ | 14.21 | $ | 11.38 | $ | 10.90 | $ | 10.58 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment income 1 | 0.09 | 0.16 | 0.10 | 0.08 | 0.16 | 0.28 | ||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 0.73 | 0.47 | (1.35 | ) | 2.95 | 0.60 | 0.39 | |||||||||||||||||
Total from investment operations | 0.82 | 0.63 | (1.25 | ) | 3.03 | 0.76 | 0.67 | |||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | (0.09 | ) | (0.15 | ) | (0.21 | ) | (0.18 | ) | (0.14 | ) | (0.22 | ) | ||||||||||||
Net realized gains | — | (0.12 | ) | (0.63 | ) | (0.02 | ) | — | (0.03 | ) | ||||||||||||||
Return of capital | — | (0.04 | ) | — | — | (0.14 | ) | (0.10 | ) | |||||||||||||||
Total distributions | (0.09 | ) | (0.31 | ) | (0.84 | ) | (0.20 | ) | (0.28 | ) | (0.35 | ) | ||||||||||||
Net asset value, end of period/year | $ | 13.17 | $ | 12.44 | $ | 12.12 | $ | 14.21 | $ | 11.38 | $ | 10.90 | ||||||||||||
Total return 2 | 6.65 | %6 | 5.35 | % | (9.58 | )% | 26.81 | % | 7.03 | % | 6.61 | % | ||||||||||||
Net assets, at end of period/year (000s) | $ | 28,414 | $ | 30,618 | $ | 34,856 | $ | 39,947 | $ | 19,454 | $ | 17,104 | ||||||||||||
Ratio of gross expenses to average net assets before expense reimbursement/recapture 3,4 | 1.11 | %7 | 1.10 | % | 1.01 | % | 1.05 | % | 1.19 | % | 1.30 | % | ||||||||||||
Ratio of net expenses to average net assets after expense reimbursement/recapture 4 | 1.02 | %7 | 1.02 | % | 1.02 | % | 1.02 | % | 1.10 | % | 1.15 | % | ||||||||||||
Ratio of net investment income to average net assets 4,5 | 1.52 | %7 | 1.34 | % | 0.69 | % | 0.59 | % | 1.44 | % | 2.71 | % | ||||||||||||
Portfolio Turnover Rate | 22 | %6 | 48 | % | 66 | % | 73 | % | 107 | % | 79 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor. |
4. | The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Not annualized. |
7. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 75 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class A | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 12.46 | $ | 12.14 | $ | 14.22 | $ | 11.38 | $ | 10.89 | $ | 10.57 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment income 1 | 0.09 | 0.16 | 0.09 | 0.07 | 0.15 | 0.28 | ||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 0.74 | 0.47 | (1.33 | ) | 2.96 | 0.61 | 0.39 | |||||||||||||||||
Total from investment operations | 0.83 | 0.63 | (1.24 | ) | 3.03 | 0.76 | 0.67 | |||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | (0.09 | ) | (0.15 | ) | (0.21 | ) | (0.17 | ) | (0.13 | ) | (0.22 | ) | ||||||||||||
Net realized gains | — | (0.12 | ) | (0.63 | ) | (0.02 | ) | — | (0.03 | ) | ||||||||||||||
Return of capital | — | (0.04 | ) | — | — | (0.14 | ) | (0.10 | ) | |||||||||||||||
Total distributions | (0.09 | ) | (0.31 | ) | (0.84 | ) | (0.19 | ) | (0.27 | ) | (0.35 | ) | ||||||||||||
Net asset value, end of period/year | $ | 13.20 | $ | 12.46 | $ | 12.14 | $ | 14.22 | $ | 11.38 | $ | 10.89 | ||||||||||||
Total return 2 | 6.69 | %6 | 5.29 | % | (9.55 | )% | 26.84 | % | 7.07 | % | 6.56 | % | ||||||||||||
Net assets, at end of period/year (000s) | $ | 26,873 | $ | 25,577 | $ | 25,744 | $ | 23,139 | $ | 10,659 | $ | 8,817 | ||||||||||||
Ratio of gross expenses to average net assets before expense reimbursement/recapture 3,4 | 1.16 | %7 | 1.15 | % | 1.06 | % | 1.10 | % | 1.24 | % | 1.35 | % | ||||||||||||
Ratio of net expenses to average net assets after expense reimbursement/recapture 4 | 1.07 | %7 | 1.07 | % | 1.07 | % | 1.07 | % | 1.15 | % | 1.20 | % | ||||||||||||
Ratio of net investment income to average net assets 4,5 | 1.47 | %7 | 1.32 | % | 0.65 | % | 0.55 | % | 1.39 | % | 2.63 | % | ||||||||||||
Portfolio Turnover Rate | 22 | %6 | 48 | % | 66 | % | 73 | % | 107 | % | 79 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor. |
4. | The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Not annualized. |
7. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 76 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class C | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 12.38 | $ | 12.06 | $ | 14.15 | $ | 11.34 | $ | 10.86 | $ | 10.55 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) 1 | 0.05 | 0.07 | (0.01 | ) | (0.03 | ) | 0.07 | 0.20 | ||||||||||||||||
Net realized and unrealized gain (loss) on investments | 0.72 | 0.47 | (1.35 | ) | 2.95 | 0.60 | 0.38 | |||||||||||||||||
Total from investment operations | 0.77 | 0.54 | (1.36 | ) | 2.92 | 0.67 | 0.58 | |||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | (0.05 | ) | (0.06 | ) | (0.10 | ) | (0.09 | ) | (0.09 | ) | (0.16 | ) | ||||||||||||
Net realized gains | — | (0.12 | ) | (0.63 | ) | (0.02 | ) | — | (0.03 | ) | ||||||||||||||
Return of capital | — | (0.04 | ) | — | — | (0.10 | ) | (0.08 | ) | |||||||||||||||
Total distributions | (0.05 | ) | (0.22 | ) | (0.73 | ) | (0.11 | ) | (0.19 | ) | (0.27 | ) | ||||||||||||
Net asset value, end of period/year | $ | 13.10 | $ | 12.38 | $ | 12.06 | $ | 14.15 | $ | 11.34 | $ | 10.86 | ||||||||||||
Total return 2 | 6.21 | %6 | 4.54 | % | (10.33 | )% | 25.85 | % | 6.23 | % | 5.73 | % | ||||||||||||
Net assets, at end of period/year (000s) | $ | 15,866 | $ | 16,181 | $ | 18,146 | $ | 18,883 | $ | 8,091 | $ | 6,194 | ||||||||||||
Ratio of gross expenses to average net assets before expense reimbursement/recapture 3,4 | 1.91 | %7 | 1.90 | % | 1.81 | % | 1.85 | % | 1.99 | % | 2.10 | % | ||||||||||||
Ratio of net expenses to average net assets after expense reimbursement/recapture 4 | 1.82 | %7 | 1.82 | % | 1.82 | % | 1.82 | % | 1.90 | % | 1.95 | % | ||||||||||||
Ratio of net investment income (loss) to average net assets 4,5 | 0.72 | %7 | 0.56 | % | (0.10 | )% | (0.21 | )% | 0.64 | % | 1.90 | % | ||||||||||||
Portfolio Turnover Rate | 22 | %6 | 48 | % | 66 | % | 73 | % | 107 | % | 79 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor. |
4. | The ratios of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment income (loss) is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Not annualized. |
7. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 77 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Balanced Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class I | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 12.44 | $ | 12.12 | $ | 14.22 | $ | 11.38 | $ | 10.90 | $ | 10.58 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment income 1 | 0.10 | 0.19 | 0.12 | 0.11 | 0.18 | 0.31 | ||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 0.73 | 0.47 | (1.35 | ) | 2.95 | 0.60 | 0.38 | |||||||||||||||||
Total from investment operations | 0.83 | 0.66 | (1.23 | ) | 3.06 | 0.78 | 0.69 | |||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | (0.10 | ) | (0.18 | ) | (0.24 | ) | (0.20 | ) | (0.15 | ) | (0.23 | ) | ||||||||||||
Net realized gains | — | (0.12 | ) | (0.63 | ) | (0.02 | ) | — | (0.03 | ) | ||||||||||||||
Return of capital | — | (0.04 | ) | — | — | (0.15 | ) | (0.11 | ) | |||||||||||||||
Total distributions | (0.10 | ) | (0.34 | ) | (0.87 | ) | (0.22 | ) | (0.30 | ) | (0.37 | ) | ||||||||||||
Net asset value, end of period/year | $ | 13.17 | $ | 12.44 | $ | 12.12 | $ | 14.22 | $ | 11.38 | $ | 10.90 | ||||||||||||
Total return 2 | 6.76 | %6 | 5.57 | % | (9.46 | )% | 27.12 | % | 7.23 | % | 6.81 | % | ||||||||||||
Net assets, at end of period/year (000s) | $ | 273,614 | $ | 260,688 | $ | 269,421 | $ | 279,142 | $ | 110,295 | $ | 79,513 | ||||||||||||
Ratio of gross expenses to average net assets before expense reimbursement/recapture 3,4 | 0.91 | %7 | 0.90 | % | 0.81 | % | 0.85 | % | 0.99 | % | 1.10 | % | ||||||||||||
Ratio of net expenses to average net assets after expense reimbursement/recapture 4 | 0.82 | %7 | 0.82 | % | 0.82 | % | 0.82 | % | 0.90 | % | 0.95 | % | ||||||||||||
Ratio of net investment income to average net assets 4,5 | 1.72 | %7 | 1.57 | % | 0.90 | % | 0.81 | % | 1.65 | % | 2.92 | % | ||||||||||||
Portfolio Turnover Rate | 22 | %6 | 48 | % | 66 | % | 73 | % | 107 | % | 79 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor. |
4. | The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Not annualized. |
7. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 78 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Core Bond Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Periods or Years Presented |
Class N | ||||||||||||||||
Six Months Ended | ||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Period Ended | |||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 * | |||||||||||||
Net asset value, beginning of period/year | $ | 8.15 | $ | 8.41 | $ | 9.66 | $ | 10.00 | ||||||||
Activity from investment operations: | ||||||||||||||||
Net investment income 1 | 0.13 | 0.17 | 0.08 | 0.05 | ||||||||||||
Net realized and unrealized gain (loss) on investments | 0.11 | (0.25 | ) | (1.20 | ) | (0.29 | ) | |||||||||
Total from investment operations | 0.24 | (0.08 | ) | (1.12 | ) | (0.24 | ) | |||||||||
Less distributions from: | ||||||||||||||||
Net investment income | (0.12 | ) | (0.18 | ) | (0.11 | ) | (0.05 | ) | ||||||||
Return of capital | — | — | (0.02 | ) | (0.05 | ) | ||||||||||
Total distributions | (0.12 | ) | (0.18 | ) | (0.13 | ) | (0.10 | ) | ||||||||
Net asset value, end of period/year | $ | 8.27 | $ | 8.15 | $ | 8.41 | $ | 9.66 | ||||||||
Total return 2 | 3.00 | %6 | (0.89 | )% | (11.69 | )% | (2.39 | )%6 | ||||||||
Net assets, at end of period/year (000s) | $ | 35,005 | $ | 37,445 | $ | 58,166 | $ | 56,644 | ||||||||
Ratio of gross expenses to average net assets before expense reimbursement 3,4 | 0.95 | %7 | 1.01 | % | 0.96 | % | 0.89 | %7 | ||||||||
Ratio of net expenses to average net assets after expense reimbursement 4 | 0.78 | %7 | 0.78 | % | 0.78 | % | 0.78 | %7 | ||||||||
Ratio of net investment income to average net assets 4,5 | 3.14 | %7 | 2.09 | % | 0.88 | % | 0.53 | %7 | ||||||||
Portfolio Turnover Rate | 27 | %6 | 57 | % | 56 | % | 52 | %6 | ||||||||
* | Eventide Core Bond Fund commenced operations on July 31, 2020. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor. |
4. | The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Not annualized. |
7. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 79 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Core Bond Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Periods or Years Presented |
Class A | ||||||||||||||||
Six Months Ended | ||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Period Ended | |||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 * | |||||||||||||
Net asset value, beginning of year/period | $ | 8.18 | $ | 8.44 | $ | 9.71 | $ | 10.00 | ||||||||
Activity from investment operations: | ||||||||||||||||
Net investment income 1 | 0.13 | 0.18 | 0.07 | 0.05 | ||||||||||||
Net realized and unrealized gain (loss) on investments | 0.12 | (0.26 | ) | (1.22 | ) | (0.27 | ) | |||||||||
Total from investment operations | 0.25 | (0.08 | ) | (1.15 | ) | (0.22 | ) | |||||||||
Less distributions from: | ||||||||||||||||
Net investment income | (0.12 | ) | (0.18 | ) | (0.10 | ) | (0.02 | ) | ||||||||
Return of capital | — | — | (0.02 | ) | (0.05 | ) | ||||||||||
Total distributions | (0.12 | ) | (0.18 | ) | (0.12 | ) | (0.07 | ) | ||||||||
Net asset value, end of year/period | $ | 8.31 | $ | 8.18 | $ | 8.44 | $ | 9.71 | ||||||||
Total return 2 | 3.07 | %6 | (0.90 | )% | (11.91 | )% | (2.28 | )%6 | ||||||||
Net assets, at end of year/period (000s) | $ | 299 | $ | 412 | $ | 197 | $ | 384 | ||||||||
Ratio of gross expenses to average net assets before expense reimbursement 3,4 | 1.00 | %7 | 1.06 | % | 1.01 | % | 0.94 | %7 | ||||||||
Ratio of net expenses to average net assets after expense reimbursement 4 | 0.83 | %7 | 0.83 | % | 0.83 | % | 0.83 | %7 | ||||||||
Ratio of net investment income to average net assets 4,5 | 3.08 | %7 | 2.19 | % | 0.78 | % | 0.51 | %7 | ||||||||
Portfolio Turnover Rate | 27 | %6 | 57 | % | 56 | % | 52 | %6 | ||||||||
* | Eventide Core Bond Fund commenced operations on July 31, 2020. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor. |
4. | The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Not annualized. |
7. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 80 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Core Bond Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Periods or Years Presented |
Class C | ||||||||||||||||
Six Months Ended | ||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Period Ended | |||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 * | |||||||||||||
Net asset value, beginning of year/period | $ | 8.11 | $ | 8.37 | $ | 9.63 | $ | 10.00 | ||||||||
Activity from investment operations: | ||||||||||||||||
Net investment income (loss) 1 | 0.09 | 0.11 | 0.01 | (0.02 | ) | |||||||||||
Net realized and unrealized gain (loss) on investments | 0.12 | (0.25 | ) | (1.20 | ) | (0.28 | ) | |||||||||
Total from investment operations | 0.21 | (0.14 | ) | (1.19 | ) | (0.30 | ) | |||||||||
Less distributions from: | ||||||||||||||||
Net investment income | (0.09 | ) | (0.12 | ) | (0.06 | ) | (0.02 | ) | ||||||||
Return of capital | — | — | (0.01 | ) | (0.05 | ) | ||||||||||
Total distributions | (0.09 | ) | (0.12 | ) | (0.07 | ) | (0.07 | ) | ||||||||
Net asset value, end of year/period | $ | 8.23 | $ | 8.11 | $ | 8.37 | $ | 9.63 | ||||||||
Total return 2 | 2.61 | %6 | (1.67 | )% | (12.37 | )% | (3.02 | )%6 | ||||||||
Net assets, at end of year/period (000s) | $ | 217 | $ | 221 | $ | 224 | $ | 163 | ||||||||
Ratio of gross expenses to average net assets before expense reimbursement 3,4 | 1.75 | %7 | 1.81 | % | 1.76 | % | 1.69 | %7 | ||||||||
Ratio of net expenses to average net assets after expense reimbursement 4 | 1.58 | %7 | 1.58 | % | 1.58 | % | 1.58 | %7 | ||||||||
Ratio of net investment income (loss) to average net assets 4,5 | 2.34 | %7 | 1.35 | % | 0.09 | % | (0.20 | )%7 | ||||||||
Portfolio Turnover Rate | 27 | %6 | 57 | % | 56 | % | 52 | %6 | ||||||||
* | Eventide Core Bond Fund commenced operations on July 31, 2020. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor. |
4. | The ratios of expenses to average net assets and net investment income/(loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment income (loss) is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Not annualized. |
7. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 81 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Core Bond Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Periods or Years Presented |
Class I | ||||||||||||||||
Six Months Ended | ||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Period Ended | |||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 * | |||||||||||||
Net asset value, beginning of year/period | $ | 8.15 | $ | 8.41 | $ | 9.66 | $ | 10.00 | ||||||||
Activity from investment operations: | ||||||||||||||||
Net investment income 1 | 0.14 | 0.20 | 0.09 | 0.07 | ||||||||||||
Net realized and unrealized gain (loss) on investments | 0.11 | (0.26 | ) | (1.19 | ) | (0.29 | ) | |||||||||
Total from investment operations | 0.25 | (0.06 | ) | (1.10 | ) | (0.22 | ) | |||||||||
Less distributions from: | ||||||||||||||||
Net investment income | (0.13 | ) | (0.20 | ) | (0.13 | ) | (0.07 | ) | ||||||||
Return of capital | — | — | (0.02 | ) | (0.05 | ) | ||||||||||
Total distributions | (0.13 | ) | (0.20 | ) | (0.15 | ) | (0.12 | ) | ||||||||
Net asset value, end of year/period | $ | 8.27 | $ | 8.15 | $ | 8.41 | $ | 9.66 | ||||||||
Total return 2 | 3.10 | %6 | (0.67 | )% | (11.51 | )% | (2.24 | )%6 | ||||||||
Net assets, at end of year/period (000s) | $ | 78,865 | $ | 39,300 | $ | 13,877 | $ | 64,377 | ||||||||
Ratio of gross expenses to average net assets before expense reimbursement 3,4 | 0.75 | %7 | 0.81 | % | 0.76 | % | 0.69 | %7 | ||||||||
Ratio of net expenses to average net assets after expense reimbursement 4 | 0.58 | %7 | 0.58 | % | 0.58 | % | 0.58 | %7 | ||||||||
Ratio of net investment income to average net assets 4,5 | 3.38 | %7 | 2.45 | % | 1.00 | % | 0.80 | %7 | ||||||||
Portfolio Turnover Rate | 27 | %6 | 57 | % | 56 | % | 52 | %6 | ||||||||
* | Eventide Core Bond Fund commenced operations on July 31, 2020. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor. |
4. | The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Not annualized. |
7. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 82 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Dividend Opportunities Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class N | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 14.65 | $ | 13.43 | $ | 15.86 | $ | 10.88 | $ | 10.37 | $ | 9.66 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment income 1 | 0.04 | 0.11 | 0.05 | 0.04 | 0.11 | 0.22 | ||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 1.46 | 1.31 | (2.01 | ) | 5.08 | 0.57 | 0.66 | |||||||||||||||||
Total from investment operations | 1.50 | 1.42 | (1.96 | ) | 5.12 | 0.68 | 0.88 | |||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | (0.03 | ) | (0.10 | ) | (0.18 | ) | (0.14 | ) | (0.10 | ) | (0.16 | ) | ||||||||||||
Net realized gains | — | (0.09 | ) | (0.29 | ) | — | — | — | ||||||||||||||||
Return of capital | — | (0.01 | ) | — | — | (0.07 | ) | (0.01 | ) | |||||||||||||||
Total distributions | (0.03 | ) | (0.20 | ) | (0.47 | ) | (0.14 | ) | (0.17 | ) | (0.17 | ) | ||||||||||||
Net asset value, end of period/year | $ | 16.12 | $ | 14.65 | $ | 13.43 | $ | 15.86 | $ | 10.88 | $ | 10.37 | ||||||||||||
Total return 2 | 10.24 | %6 | 10.66 | % | (12.90 | )% | 47.21 | % | 6.60 | % | 9.20 | % | ||||||||||||
Net assets, at end of period/year (000s) | $ | 87,299 | $ | 91,912 | $ | 74,940 | $ | 70,566 | $ | 18,576 | $ | 7,254 | ||||||||||||
Ratio of gross expenses to average net assets before expense reimbursement/recapture 3,4 | 1.16 | %7 | 1.23 | % | 1.14 | % | 1.19 | % | 1.50 | % | 2.00 | % | ||||||||||||
Ratio of net expenses to average net assets after expense reimbursement/recapture 4 | 1.15 | %7 | 1.15 | % | 1.15 | % | 1.15 | % | 1.15 | % | 1.15 | % | ||||||||||||
Ratio of net investment income to average net assets 4,5 | 0.53 | %7 | 0.75 | % | 0.34 | % | 0.27 | % | 1.01 | % | 2.25 | % | ||||||||||||
Portfolio Turnover Rate | 23 | %6 | 50 | % | 50 | % | 35 | % | 90 | % | 50 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived or recaptured a portion of the Fund’s expenses in certain periods, total returns would have been lower/higher. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor. |
4. | The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Not annualized. |
7. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 83 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Dividend Opportunities Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class A | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 14.66 | $ | 13.43 | $ | 15.85 | $ | 10.87 | $ | 10.36 | $ | 9.65 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment income 1 | 0.04 | 0.10 | 0.05 | 0.03 | 0.10 | 0.22 | ||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 1.46 | 1.32 | (2.01 | ) | 5.08 | 0.57 | 0.65 | |||||||||||||||||
Total from investment operations | 1.50 | 1.42 | (1.96 | ) | 5.11 | 0.67 | 0.87 | |||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | (0.03 | ) | (0.06 | ) | (0.17 | ) | (0.13 | ) | (0.09 | ) | (0.15 | ) | ||||||||||||
Net realized gains | — | (0.09 | ) | (0.29 | ) | — | — | — | ||||||||||||||||
Return of capital | — | (0.04 | ) | — | — | (0.07 | ) | (0.01 | ) | |||||||||||||||
Total distributions | (0.03 | ) | (0.19 | ) | (0.46 | ) | (0.13 | ) | (0.16 | ) | (0.16 | ) | ||||||||||||
Net asset value, end of period/year | $ | 16.13 | $ | 14.66 | $ | 13.43 | $ | 15.85 | $ | 10.87 | $ | 10.36 | ||||||||||||
Total return 2 | 10.22 | %6 | 10.68 | % | (12.88 | )% | 47.22 | % | 6.55 | % | 9.15 | % | ||||||||||||
Net assets, at end of period/year (000s) | $ | 43,868 | $ | 36,722 | $ | 29,243 | $ | 17,865 | $ | 3,184 | $ | 957 | ||||||||||||
Ratio of gross expenses to average net assets before expense reimbursement/recapture 3,4 | 1.21 | %7 | 1.28 | % | 1.19 | % | 1.24 | % | 1.55 | % | 2.05 | % | ||||||||||||
Ratio of net expenses to average net assets after expense reimbursement/recapture 4 | 1.20 | %7 | 1.20 | % | 1.20 | % | 1.20 | % | 1.20 | % | 1.20 | % | ||||||||||||
Ratio of net investment income to average net assets 4,5 | 0.47 | %7 | 0.69 | % | 0.31 | % | 0.22 | % | 0.89 | % | 2.28 | % | ||||||||||||
Portfolio Turnover Rate | 23 | %6 | 50 | % | 50 | % | 35 | % | 90 | % | 50 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges. Had the advisor not waived or recaptured a portion of the Fund’s expenses in certain periods, total returns would have been lower/higher. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor. |
4. | The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Not annualized. |
7. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 84 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Dividend Opportunities Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class C | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 14.54 | $ | 13.34 | $ | 15.77 | $ | 10.86 | $ | 10.35 | $ | 9.66 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) 1 | (0.01 | ) | (0.01 | ) | (0.07 | ) | (0.08 | ) | 0.03 | 0.15 | ||||||||||||||
Net realized and unrealized gain (loss) on investments | 1.44 | 1.31 | (2.00 | ) | 5.06 | 0.56 | 0.65 | |||||||||||||||||
Total from investment operations | 1.43 | 1.30 | (2.07 | ) | 4.98 | 0.59 | 0.80 | |||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | — | — | (0.07 | ) | (0.07 | ) | (0.05 | ) | (0.10 | ) | ||||||||||||||
Net realized gains | — | (0.09 | ) | (0.29 | ) | — | — | — | ||||||||||||||||
Return of capital | — | (0.01 | ) | — | — | (0.03 | ) | (0.01 | ) | |||||||||||||||
Total distributions | — | (0.10 | ) | (0.36 | ) | (0.07 | ) | (0.08 | ) | (0.11 | ) | |||||||||||||
Net asset value, end of period/year | $ | 15.97 | $ | 14.54 | $ | 13.34 | $ | 15.77 | $ | 10.86 | $ | 10.35 | ||||||||||||
Total return 2 | 9.83 | %6 | 9.78 | % | (13.57 | )% | 45.93 | % | 5.78 | % | 8.34 | % | ||||||||||||
Net assets, at end of period/year (000s) | $ | 16,280 | $ | 14,889 | $ | 9,975 | $ | 4,508 | $ | 824 | $ | 541 | ||||||||||||
Ratio of gross expenses to average net assets before expense reimbursement/recapture 3,4 | 1.96 | %7 | 2.03 | % | 1.94 | % | 1.99 | % | 2.30 | % | 2.80 | % | ||||||||||||
Ratio of net expenses to average net assets after expense reimbursement/recapture 4 | 1.95 | %7 | 1.95 | % | 1.95 | % | 1.95 | % | 1.95 | % | 1.95 | % | ||||||||||||
Ratio of net investment income (loss) to average net assets 4,5 | (0.27 | )%7 | (0.05 | )% | (0.42 | )% | (0.53 | )% | 0.25 | % | 1.53 | % | ||||||||||||
Portfolio Turnover Rate | 23 | %6 | 50 | % | 50 | % | 35 | % | 90 | % | 50 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived or recaptured a portion of the Fund’s expenses in certain periods, total returns would have been lower/higher. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor. |
4. | The ratios of expenses to average net assets and net investment income/(loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment income (loss) is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Not annualized. |
7. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 85 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Dividend Opportunities Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class I | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 14.66 | $ | 13.44 | $ | 15.87 | $ | 10.88 | $ | 10.37 | $ | 9.67 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment income 1 | 0.05 | 0.13 | 0.09 | 0.07 | 0.12 | 0.24 | ||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 1.46 | 1.32 | (2.02 | ) | 5.07 | 0.57 | 0.66 | |||||||||||||||||
Total from investment operations | 1.51 | 1.45 | (1.93 | ) | 5.14 | 0.69 | 0.90 | |||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | (0.04 | ) | (0.11 | ) | (0.21 | ) | (0.15 | ) | (0.10 | ) | (0.19 | ) | ||||||||||||
Net realized gains | — | (0.09 | ) | (0.29 | ) | — | — | — | ||||||||||||||||
Return of capital | — | (0.03 | ) | — | — | (0.08 | ) | (0.01 | ) | |||||||||||||||
Total distributions | (0.04 | ) | (0.23 | ) | (0.50 | ) | (0.15 | ) | (0.18 | ) | (0.20 | ) | ||||||||||||
Net asset value, end of period/year | $ | 16.13 | $ | 14.66 | $ | 13.44 | $ | 15.87 | $ | 10.88 | $ | 10.37 | ||||||||||||
Total return 2 | 10.35 | %6 | 10.87 | % | (12.72 | )% | 47.49 | % | 6.79 | % | 9.40 | % | ||||||||||||
Net assets, at end of period/year (000s) | $ | 527,596 | $ | 430,286 | $ | 305,801 | $ | 237,256 | $ | 45,034 | $ | 7,892 | ||||||||||||
Ratio of gross expenses to average net assets before expense reimbursement/recapture 3,4 | 0.96 | %7 | 1.03 | % | 0.94 | % | 0.99 | % | 1.30 | % | 1.80 | % | ||||||||||||
Ratio of net expenses to average net assets after expense reimbursement/recapture 4 | 0.95 | %7 | 0.95 | % | 0.95 | % | 0.95 | % | 0.95 | % | 0.95 | % | ||||||||||||
Ratio of net investment income to average net assets 4,5 | 0.73 | %7 | 0.96 | % | 0.55 | % | 0.48 | % | 1.16 | % | 2.47 | % | ||||||||||||
Portfolio Turnover Rate | 23 | %6 | 50 | % | 50 | % | 35 | % | 90 | % | 50 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived or recaptured a portion of the Fund’s expenses in certain periods, total returns would have been lower/higher. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor. |
4. | The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Not annualized. |
7. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 86 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Exponential Technologies Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class N | ||||||||||||||||
Six Months Ended | ||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | |||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 * | |||||||||||||
Net asset value, beginning of period/year | $ | 12.00 | $ | 10.92 | $ | 19.08 | $ | 10.00 | ||||||||
Activity from investment operations: | ||||||||||||||||
Net investment loss 1 | (0.08 | ) | (0.13 | ) | (0.25 | ) | (0.25 | ) | ||||||||
Net realized and unrealized gain (loss) on investments | 1.07 | 1.20 | (7.69 | ) | 9.33 | |||||||||||
Total from investment operations | 0.99 | 1.07 | (7.94 | ) | 9.08 | |||||||||||
Less distributions from: | ||||||||||||||||
Net realized gains | — | — | (0.23 | ) | (0.02 | ) | ||||||||||
Total distributions | — | — | (0.23 | ) | (0.02 | ) | ||||||||||
Paid-in-capital from redemption fees 1 | 0.00 | 6 | 0.01 | 0.01 | 0.02 | |||||||||||
Net asset value, end of period/year | $ | 12.99 | $ | 12.00 | $ | 10.92 | $ | 19.08 | ||||||||
Total return 2 | 8.25 | %7 | 9.89 | % | (42.00 | )% | 91.00 | % | ||||||||
Net assets, at end of period/year (000s) | $ | 23,207 | $ | 22,186 | $ | 12,479 | $ | 15,730 | ||||||||
Ratio of gross expenses to average net assets before expense reimbursement 3,4 | 1.68 | %8 | 1.70 | % | 1.63 | % | 1.73 | % | ||||||||
Ratio of net expenses to average net assets after expense reimbursement 4 | 1.63 | %8 | 1.63 | % | 1.63 | % | 1.63 | % | ||||||||
Ratio of net investment loss to average net assets 4,5 | (1.36 | )%8 | (1.23 | )% | (1.54 | )% | (1.50 | )% | ||||||||
Portfolio Turnover Rate | 33 | %7 | 80 | % | 69 | % | 60 | % | ||||||||
* | Eventide Exponential Technologies Fund commenced operations on June 30, 2020. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor. |
4. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Amount represents less than $0.01 per share. |
7. | Not annualized. |
8. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 87 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Exponential Technologies Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class A | ||||||||||||||||
Six Months Ended | ||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | |||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 * | |||||||||||||
Net asset value, beginning of period/year | $ | 12.00 | $ | 10.93 | $ | 19.08 | $ | 10.00 | ||||||||
Activity from investment operations: | ||||||||||||||||
Net investment loss 1 | (0.08 | ) | (0.14 | ) | (0.25 | ) | (0.26 | ) | ||||||||
Net realized and unrealized gain (loss) on investments | 1.07 | 1.20 | (7.68 | ) | 9.34 | |||||||||||
Total from investment operations | 0.99 | 1.06 | (7.93 | ) | 9.08 | |||||||||||
Less distributions from: | ||||||||||||||||
Net realized gains | — | — | (0.23 | ) | (0.02 | ) | ||||||||||
Total distributions | — | — | (0.23 | ) | (0.02 | ) | ||||||||||
Paid-in-capital from redemption fees 1 | 0.00 | 6 | 0.01 | 0.01 | 0.02 | |||||||||||
Net asset value, end of period/year | $ | 12.99 | $ | 12.00 | $ | 10.93 | $ | 19.08 | ||||||||
Total return 2 | 8.25 | %7 | 9.79 | % | (41.95 | )% | 91.00 | % | ||||||||
Net assets, at end of period/year (000s) | $ | 9,272 | $ | 8,257 | $ | 7,377 | $ | 7,662 | ||||||||
Ratio of gross expenses to average net assets before expense reimbursement 3,4 | 1.73 | %8 | 1.75 | % | 1.68 | % | 1.78 | % | ||||||||
Ratio of net expenses to average net assets after expense reimbursement 4 | 1.68 | %8 | 1.68 | % | 1.68 | % | 1.68 | % | ||||||||
Ratio of net investment loss to average net assets 4,5 | (1.41 | )%8 | (1.28 | )% | (1.58 | )% | (1.55 | )% | ||||||||
Portfolio Turnover Rate | 33 | %7 | 80 | % | 69 | % | 60 | % | ||||||||
* | Eventide Exponential Technologies Fund commenced operations on June 30, 2020. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor. |
4. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Amount represents less than $0.01 per share. |
7. | Not annualized. |
8. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 88 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Exponential Technologies Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class C | ||||||||||||||||
Six Months Ended | ||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | |||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 * | |||||||||||||
Net asset value, beginning of period/year | $ | 11.74 | $ | 10.77 | $ | 18.96 | $ | 10.00 | ||||||||
Activity from investment operations: | ||||||||||||||||
Net investment loss 1 | (0.12 | ) | (0.21 | ) | (0.37 | ) | (0.38 | ) | ||||||||
Net realized and unrealized gain (loss) on investments | 1.04 | 1.17 | (7.60 | ) | 9.35 | |||||||||||
Total from investment operations | 0.92 | 0.96 | (7.97 | ) | 8.97 | |||||||||||
Less distributions from: | ||||||||||||||||
Net realized gains | — | — | (0.23 | ) | (0.02 | ) | ||||||||||
Total distributions | — | — | (0.23 | ) | (0.02 | ) | ||||||||||
Paid-in-capital from redemption fees 1 | 0.00 | 6 | 0.01 | 0.01 | 0.01 | |||||||||||
Net asset value, end of period/year | $ | 12.66 | $ | 11.74 | $ | 10.77 | $ | 18.96 | ||||||||
Total return 2 | 7.84 | %7 | 9.01 | % | (42.43 | )% | 89.80 | % | ||||||||
Net assets, at end of period/year (000s) | $ | 2,921 | $ | 2,635 | $ | 2,422 | $ | 2,065 | ||||||||
Ratio of gross expenses to average net assets before expense reimbursement 3,4 | 2.48 | %8 | 2.50 | % | 2.43 | % | 2.53 | % | ||||||||
Ratio of net expenses to average net assets after expense reimbursement 4 | 2.43 | %8 | 2.43 | % | 2.43 | % | 2.43 | % | ||||||||
Ratio of net investment loss to average net assets 4,5 | (2.16 | )%8 | (2.03 | )% | (2.33 | )% | (2.30 | )% | ||||||||
Portfolio Turnover Rate | 33 | %7 | 80 | % | 69 | % | 60 | % | ||||||||
* | Eventide Exponential Technologies Fund commenced operations on June 30, 2020. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor. |
4. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Amount represents less than $0.01 per share. |
7. | Not annualized. |
8. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 89 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Exponential Technologies Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class I | ||||||||||||||||
Six Months Ended | ||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | |||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 * | |||||||||||||
Net asset value, beginning of period/year | $ | 12.08 | $ | 10.97 | $ | 19.12 | $ | 10.00 | ||||||||
Activity from investment operations: | ||||||||||||||||
Net investment loss 1 | (0.07 | ) | (0.11 | ) | (0.22 | ) | (0.22 | ) | ||||||||
Net realized and unrealized gain (loss) on investments | 1.08 | 1.21 | (7.71 | ) | 9.34 | |||||||||||
Total from investment operations | 1.01 | 1.10 | (7.93 | ) | 9.12 | |||||||||||
Less distributions from: | ||||||||||||||||
Net realized gains | — | — | (0.23 | ) | (0.02 | ) | ||||||||||
Total distributions | — | — | (0.23 | ) | (0.02 | ) | ||||||||||
Paid-in-capital from redemption fees 1 | 0.00 | 6 | 0.01 | 0.01 | 0.02 | |||||||||||
Net asset value, end of period/year | $ | 13.09 | $ | 12.08 | $ | 10.97 | $ | 19.12 | ||||||||
Total return 2 | 8.36 | %7 | 10.12 | % | (41.86 | )% | 91.40 | % | ||||||||
Net assets, at end of period/year (000s) | $ | 92,233 | $ | 82,735 | $ | 72,567 | $ | 96,821 | ||||||||
Ratio of gross expenses to average net assets before expense reimbursement 3,4 | 1.48 | %8 | 1.50 | % | 1.43 | % | 1.53 | % | ||||||||
Ratio of net expenses to average net assets after expense reimbursement 4 | 1.43 | %8 | 1.43 | % | 1.43 | % | 1.43 | % | ||||||||
Ratio of net investment loss to average net assets 4,5 | (1.16 | )%8 | (1.02 | )% | (1.33 | )% | (1.30 | )% | ||||||||
Portfolio Turnover Rate | 33 | %7 | 80 | % | 69 | % | 60 | % | ||||||||
* | Eventide Exponential Technologies Fund commenced operations on June 30, 2020. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor. |
4. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Amount represents less than $0.01 per share. |
7. | Not annualized. |
8. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 90 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Gilead Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class N | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 48.25 | $ | 44.10 | $ | 69.91 | $ | 47.16 | $ | 41.75 | $ | 37.80 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment loss 1 | (0.16 | ) | (0.27 | ) | (0.53 | ) | (0.51 | ) | (0.25 | ) | (0.14 | ) | ||||||||||||
Net realized and unrealized gain (loss) on investments | 2.44 | 6.70 | (21.01 | ) | 23.77 | 6.98 | 5.80 | |||||||||||||||||
Total from investment operations | 2.28 | 6.43 | (21.54 | ) | 23.26 | 6.73 | 5.66 | |||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net realized gains | — | (2.28 | ) | (4.27 | ) | (0.51 | ) | (1.32 | ) | (1.71 | ) | |||||||||||||
Total distributions | — | (2.28 | ) | (4.27 | ) | (0.51 | ) | (1.32 | ) | (1.71 | ) | |||||||||||||
Net asset value, end of period/year | $ | 50.53 | $ | 48.25 | $ | 44.10 | $ | 69.91 | $ | 47.16 | $ | 41.75 | ||||||||||||
Total return 2 | 4.31 | %5 | 15.29 | %7 | (32.65 | )% | 49.43 | % | 16.66 | % | 16.41 | % | ||||||||||||
Net assets, at end of period/year (000s) | $ | 518,922 | $ | 526,825 | $ | 529,869 | $ | 827,811 | $ | 549,944 | $ | 639,372 | ||||||||||||
Ratio of net expenses to average net assets 3 | 1.36 | %6 | 1.38 | % | 1.31 | % | 1.31 | % | 1.38 | % | 1.39 | % | ||||||||||||
Ratio of net investment loss to average net assets 3,4 | (0.67 | )%6 | (0.59 | )% | (0.86 | )% | (0.85 | )% | (0.63 | )% | (0.37 | )% | ||||||||||||
Portfolio Turnover Rate | 18 | %5 | 34 | % | 27 | % | 19 | % | 35 | % | 38 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. |
3. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
4. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
5. | Not annualized. |
6. | Annualized. |
7. | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
See accompanying notes to financial statements.
E V E N T I D E | 91 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Gilead Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class A | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 47.94 | $ | 43.83 | $ | 69.53 | $ | 46.92 | $ | 41.57 | $ | 37.66 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment loss 1 | (0.17 | ) | (0.29 | ) | (0.55 | ) | (0.54 | ) | (0.27 | ) | (0.16 | ) | ||||||||||||
Net realized and unrealized gain (loss) on investments | 2.41 | 6.68 | (20.88 | ) | 23.66 | 6.94 | 5.78 | |||||||||||||||||
Total from investment operations | 2.24 | 6.39 | (21.43 | ) | 23.12 | 6.67 | 5.62 | |||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net realized gains | — | (2.28 | ) | (4.27 | ) | (0.51 | ) | (1.32 | ) | (1.71 | ) | |||||||||||||
Total distributions | — | (2.28 | ) | (4.27 | ) | (0.51 | ) | (1.32 | ) | (1.71 | ) | |||||||||||||
Net asset value, end of period/year | $ | 50.18 | $ | 47.94 | $ | 43.83 | $ | 69.53 | $ | 46.92 | $ | 41.57 | ||||||||||||
Total return 2 | 4.28 | %5 | 15.30 | %7 | (32.67 | )% | 49.39 | % | 16.58 | % | 16.36 | % | ||||||||||||
Net assets, at end of period/year (000s) | $ | 361,513 | $ | 351,924 | $ | 302,171 | $ | 458,726 | $ | 301,013 | $ | 274,059 | ||||||||||||
Ratio of net expenses to average net assets 3 | 1.41 | %6 | 1.43 | % | 1.36 | % | 1.36 | % | 1.43 | % | 1.44 | % | ||||||||||||
Ratio of net investment loss to average net assets 3,4 | (0.72 | )%6 | (0.65 | )% | (0.91 | )% | (0.91 | )% | (0.69 | )% | (0.44 | )% | ||||||||||||
Portfolio Turnover Rate | 18 | %5 | 34 | % | 27 | % | 19 | % | 35 | % | 38 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges. |
3. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
4. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
5. | Not Annualized. |
6. | Annualized. |
7. | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
See accompanying notes to financial statements.
E V E N T I D E | 92 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Gilead Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class C | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 42.13 | $ | 39.09 | $ | 62.97 | $ | 42.86 | $ | 38.37 | $ | 35.16 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment loss 1 | (0.30 | ) | (0.55 | ) | (0.91 | ) | (0.89 | ) | (0.53 | ) | (0.41 | ) | ||||||||||||
Net realized and unrealized gain (loss) on investments | 2.12 | 5.87 | (18.70 | ) | 21.51 | 6.34 | 5.33 | |||||||||||||||||
Total from investment operations | 1.82 | 5.32 | (19.61 | ) | 20.62 | 5.81 | 4.92 | |||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net realized gains | — | (2.28 | ) | (4.27 | ) | (0.51 | ) | (1.32 | ) | (1.71 | ) | |||||||||||||
Total distributions | — | (2.28 | ) | (4.27 | ) | (0.51 | ) | (1.32 | ) | (1.71 | ) | |||||||||||||
Net asset value, end of period/year | $ | 43.95 | $ | 42.13 | $ | 39.09 | $ | 62.97 | $ | 42.86 | $ | 38.37 | ||||||||||||
Total return 2 | 3.88 | %5,6 | 14.38 | %5 | (33.21 | )% | 48.23 | % | 15.71 | % | 15.51 | % | ||||||||||||
Net assets, at end of period/year (000s) | $ | 198,916 | $ | 218,201 | $ | 235,967 | $ | 404,272 | $ | 289,242 | $ | 266,001 | ||||||||||||
Ratio of net expenses to average net assets 3 | 2.16 | %7 | 2.18 | % | 2.11 | % | 2.11 | % | 2.18 | % | 2.19 | % | ||||||||||||
Ratio of net investment loss to average net assets 3,4 | (1.46 | )%7 | (1.40 | )% | (1.67 | )% | (1.65 | )% | (1.43 | )% | (1.17 | )% | ||||||||||||
Portfolio Turnover Rate | 18 | %6 | 34 | % | 27 | % | 19 | % | 35 | % | 38 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. |
3. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
4. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
5. | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
6. | Not annualized. |
7. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 93 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Gilead Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class I | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 49.82 | $ | 45.36 | $ | 71.65 | $ | 48.22 | $ | 42.59 | $ | 38.44 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment loss 1 | (0.11 | ) | (0.19 | ) | (0.41 | ) | (0.40 | ) | (0.18 | ) | (0.07 | ) | ||||||||||||
Net realized and unrealized gain (loss) on investments | 2.51 | 6.93 | (21.61 | ) | 24.34 | 7.13 | 5.93 | |||||||||||||||||
Total from investment operations | 2.40 | 6.74 | (22.02 | ) | 23.94 | 6.95 | 5.86 | |||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net realized gains | — | (2.28 | ) | (4.27 | ) | (0.51 | ) | (1.32 | ) | (1.71 | ) | |||||||||||||
Total distributions | — | (2.28 | ) | (4.27 | ) | (0.51 | ) | (1.32 | ) | (1.71 | ) | |||||||||||||
Net asset value, end of period/year | $ | 52.22 | $ | 49.82 | $ | 45.36 | $ | 71.65 | $ | 48.22 | $ | 42.59 | ||||||||||||
Total return 2 | 4.42 | %5 | 15.56 | %7 | (32.52 | )% | 49.76 | % | 16.85 | % | 16.66 | % | ||||||||||||
Net assets, at end of period/year (000s) | $ | 2,741,060 | $ | 2,663,688 | $ | 2,408,991 | $ | 3,522,353 | $ | 1,997,163 | $ | 1,475,489 | ||||||||||||
Ratio of net expenses to average net assets 3 | 1.16 | %6 | 1.18 | % | 1.11 | % | 1.11 | % | 1.18 | % | 1.19 | % | ||||||||||||
Ratio of net investment loss to average net assets 3,4 | (0.47 | )%6 | (0.40 | )% | (0.66 | )% | (0.65 | )% | (0.43 | )% | (0.17 | )% | ||||||||||||
Portfolio Turnover Rate | 18 | %5 | 34 | % | 27 | % | 19 | % | 35 | % | 38 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. |
3. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
4. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
5. | Not annualized. |
6. | Annualized. |
7. | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
See accompanying notes to financial statements.
E V E N T I D E | 94 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Healthcare & Life Sciences Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class N | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 36.63 | $ | 26.52 | $ | 46.19 | $ | 43.33 | $ | 35.51 | $ | 34.52 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment loss 1 | (0.20 | ) | (0.37 | ) | (0.57 | ) | (0.72 | ) | (0.52 | ) | (0.46 | ) | ||||||||||||
Net realized and unrealized gain (loss) on investments | (0.24 | ) | 10.48 | (14.74 | ) | 5.52 | 9.19 | 3.39 | ||||||||||||||||
Total from investment operations | (0.44 | ) | 10.11 | (15.31 | ) | 4.80 | 8.67 | 2.93 | ||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | — | — | (0.63 | ) | — | — | — | |||||||||||||||||
Net realized gains | — | — | (3.73 | ) | (1.94 | ) | (0.87 | ) | (1.98 | ) | ||||||||||||||
Total distributions | — | — | (4.36 | ) | (1.94 | ) | (0.87 | ) | (1.98 | ) | ||||||||||||||
Paid-in-capital from redemption fees 1 | — | — | — | 0.00 | 5 | 0.02 | 0.04 | |||||||||||||||||
Net asset value, end of period/year | $ | 36.19 | $ | 36.63 | $ | 26.52 | $ | 46.19 | $ | 43.33 | $ | 35.51 | ||||||||||||
Total return 2 | (1.92 | )%6 | 38.12 | %8 | (35.99 | )%8 | 10.34 | % | 24.68 | % | 10.38 | %8 | ||||||||||||
Net assets, at end of period/year (000s) | $ | 111,156 | $ | 133,006 | $ | 115,954 | $ | 227,441 | $ | 231,460 | $ | 147,468 | ||||||||||||
Ratio of net expenses to average net assets 3 | 1.52 | %7 | 1.50 | % | 1.50 | % | 1.48 | % | 1.50 | % | 1.49 | % | ||||||||||||
Ratio of net investment loss to average net assets 3,4 | (1.21 | )%7 | (1.14 | )% | (1.49 | )% | (1.47 | )% | (1.44 | )% | (1.38 | )% | ||||||||||||
Portfolio Turnover Rate | 45 | %6 | 79 | % | 59 | % | 62 | % | 33 | % | 53 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. |
3. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
4. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
5. | Amount represents less than $0.01 per share. |
6. | Not annualized. |
7. | Annualized. |
8. | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
See accompanying notes to financial statements.
E V E N T I D E | 95 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Healthcare & Life Sciences Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class A | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 36.37 | $ | 26.34 | $ | 45.91 | $ | 43.10 | $ | 35.33 | $ | 34.40 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment loss 1 | (0.21 | ) | (0.38 | ) | (0.58 | ) | (0.74 | ) | (0.53 | ) | (0.48 | ) | ||||||||||||
Net realized and unrealized gain (loss) on investments | (0.25 | ) | 10.41 | (14.64 | ) | 5.49 | 9.15 | 3.35 | ||||||||||||||||
Total from investment operations | (0.46 | ) | 10.03 | (15.22 | ) | 4.75 | 8.62 | 2.87 | ||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | — | — | (0.62 | ) | — | — | — | |||||||||||||||||
Net realized gains | — | — | (3.73 | ) | (1.94 | ) | (0.87 | ) | (1.98 | ) | ||||||||||||||
Total distributions | — | — | (4.35 | ) | (1.94 | ) | (0.87 | ) | (1.98 | ) | ||||||||||||||
Paid-in-capital from redemption fees 1 | — | — | — | 0.00 | 5 | 0.02 | 0.04 | |||||||||||||||||
Net asset value, end of period/year | $ | 35.91 | $ | 36.37 | $ | 26.34 | $ | 45.91 | $ | 43.10 | $ | 35.33 | ||||||||||||
Total return 2 | (1.94 | )%6,7 | 38.08 | %6 | (36.02 | )%6 | 10.28 | % | 24.67 | % | 10.24 | %7 | ||||||||||||
Net assets, at end of period/year (000s) | $ | 142,912 | $ | 151,885 | $ | 114,642 | $ | 191,709 | $ | 175,151 | $ | 143,407 | ||||||||||||
Ratio of net expenses to average net assets 3 | 1.57 | %8 | 1.55 | % | 1.55 | % | 1.53 | % | 1.55 | % | 1.54 | % | ||||||||||||
Ratio of net investment loss to average net assets 3,4 | (1.26 | )%8 | (1.19 | )% | (1.54 | )% | (1.52 | )% | (1.49 | )% | (1.43 | )% | ||||||||||||
Portfolio Turnover Rate | 45 | %7 | 79 | % | 59 | % | 62 | % | 33 | % | 53 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges. |
3. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
4. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
5. | Amount represents less than $0.01 per share. |
6. | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
7. | Not annualized. |
8. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 96 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Healthcare & Life Sciences Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class C | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 33.39 | $ | 24.37 | $ | 42.78 | $ | 40.56 | $ | 33.54 | $ | 33.00 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment loss 1 | (0.31 | ) | (0.57 | ) | (0.80 | ) | (1.04 | ) | (0.76 | ) | (0.69 | ) | ||||||||||||
Net realized and unrealized gain (loss) on investments | (0.22 | ) | 9.59 | (13.60 | ) | 5.20 | 8.63 | 3.17 | ||||||||||||||||
Total from investment operations | (0.53 | ) | 9.02 | (14.40 | ) | 4.16 | 7.87 | 2.48 | ||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | — | — | (0.28 | ) | — | — | — | |||||||||||||||||
Net realized gains | — | — | (3.73 | ) | (1.94 | ) | (0.87 | ) | (1.98 | ) | ||||||||||||||
Total distributions | — | — | (4.01 | ) | (1.94 | ) | (0.87 | ) | (1.98 | ) | ||||||||||||||
Paid-in-capital from redemption fees 1 | — | — | — | 0.00 | 5 | 0.02 | 0.04 | |||||||||||||||||
Net asset value, end of period/year | $ | 32.86 | $ | 33.39 | $ | 24.37 | $ | 42.78 | $ | 40.56 | $ | 33.54 | ||||||||||||
Total return 2 | (2.29 | )%6 | 37.01 | %8 | (36.51 | )%8 | 9.45 | % | 23.73 | % | 9.50 | %8 | ||||||||||||
Net assets, at end of period/year (000s) | $ | 67,215 | $ | 76,849 | $ | 66,540 | $ | 120,351 | $ | 104,202 | $ | 87,773 | ||||||||||||
Ratio of net expenses to average net assets 3 | 2.32 | %7 | 2.30 | % | 2.30 | % | 2.28 | % | 2.30 | % | 2.29 | % | ||||||||||||
Ratio of net investment loss to average net assets 3,4 | (2.01 | )%7 | (1.94 | )% | (2.29 | )% | (2.27 | )% | (2.23 | )% | (2.18 | )% | ||||||||||||
Portfolio Turnover Rate | 45 | %6 | 79 | % | 59 | % | 62 | % | 33 | % | 53 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. |
3. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
4. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
5. | Amount represents less than $0.01 per share. |
6. | Not annualized. |
7. | Annualized. |
8. | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
See accompanying notes to financial statements.
E V E N T I D E | 97 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Healthcare & Life Sciences Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Period or Years Presented |
Class I | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 37.45 | $ | 27.05 | $ | 47.04 | $ | 44.02 | $ | 35.98 | $ | 34.88 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment loss 1 | (0.18 | ) | (0.31 | ) | (0.49 | ) | (0.64 | ) | (0.46 | ) | (0.40 | ) | ||||||||||||
Net realized and unrealized gain (loss) on investments | (0.26 | ) | 10.71 | (15.03 | ) | 5.60 | 9.35 | 3.44 | ||||||||||||||||
Total from investment operations | (0.44 | ) | 10.40 | (15.52 | ) | 4.96 | 8.89 | 3.04 | ||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | — | — | (0.74 | ) | — | — | — | |||||||||||||||||
Net realized gains | — | — | (3.73 | ) | (1.94 | ) | (0.87 | ) | (1.98 | ) | ||||||||||||||
Total distributions | — | — | (4.47 | ) | (1.94 | ) | (0.87 | ) | (1.98 | ) | ||||||||||||||
Paid-in-capital from redemption fees 1 | — | — | — | 0.00 | 5 | 0.02 | 0.04 | |||||||||||||||||
Net asset value, end of period/year | $ | 37.01 | $ | 37.45 | $ | 27.05 | $ | 47.04 | $ | 44.02 | $ | 35.98 | ||||||||||||
Total return 2 | (1.83 | )%6 | 38.45 | %8 | (35.85 | )%8 | 10.54 | % | 24.97 | % | 10.60 | %8 | ||||||||||||
Net assets, at end of period/year (000s) | $ | 1,345,765 | $ | 1,441,422 | $ | 1,024,430 | $ | 1,573,091 | $ | 1,120,862 | $ | 705,159 | ||||||||||||
Ratio of net expenses to average net assets 3 | 1.32 | %7 | 1.30 | % | 1.30 | % | 1.28 | % | 1.30 | % | 1.29 | % | ||||||||||||
Ratio of net investment loss to average net assets 3,4 | (1.01 | )%7 | (0.94 | )% | (1.29 | )% | (1.28 | )% | (1.24 | )% | (1.19 | )% | ||||||||||||
Portfolio Turnover Rate | 45 | %6 | 79 | % | 59 | % | 62 | % | 33 | % | 53 | % | ||||||||||||
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. |
3. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
4. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
5. | Amount represents less than $0.01 per share. |
6. | Not annualized. |
7. | Annualized. |
8. | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and, consequently, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset values and returns for shareholder transactions. |
See accompanying notes to financial statements.
E V E N T I D E | 98 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Large Cap Focus Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout the Period or Year Presented |
Class N | ||||||||
Six Months Ended | ||||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 * | |||||||
Net asset value, beginning of period/year | $ | 11.44 | $ | 10.00 | ||||
Activity from investment operations: | ||||||||
Net investment loss 1 | (0.02 | ) | (0.01 | ) | ||||
Net realized and unrealized gain on investments | 0.99 | 1.45 | ||||||
Total from investment operations | 0.97 | 1.44 | ||||||
Less distributions from: | ||||||||
Return of capital | — | (0.00 | )6 | |||||
Total distributions | — | (0.00 | )6 | |||||
Net asset value, end of period/year | $ | 12.41 | $ | 11.44 | ||||
Total return 2 | 8.48 | %7 | 14.43 | % | ||||
Net assets, at end of period/year (000s) | $ | 5,688 | $ | 330 | ||||
Ratio of gross expenses to average net assets before expense reimbursement 3,4 | 1.75 | %8 | 2.84 | %9 | ||||
Ratio of net expenses to average net assets after expense reimbursement 4 | 1.14 | %8 | 1.15 | %9 | ||||
Ratio of net investment loss to average net assets 4,5 | (0.34 | )%8 | (0.15 | )% | ||||
Portfolio Turnover Rate | 28 | %7 | 48 | % | ||||
* | Eventide Large Cap Focus Fund Class N commenced operations on June 30, 2022. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor. |
4. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Amount represents less than $0.01 per share. |
7. | Not annualized. |
8. | Annualized. |
9. | The ratio includes 0.01% for the year ended June 30, 2023 attributed to line of credit fees. |
See accompanying notes to financial statements.
E V E N T I D E | 99 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Large Cap Focus Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout the Period or Year Presented |
Class A | ||||||||
Six Months Ended | ||||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 * | |||||||
Net asset value, beginning of period/year | $ | 11.42 | $ | 10.00 | ||||
Activity from investment operations: | ||||||||
Net investment loss 1 | (0.02 | ) | (0.00 | )6 | ||||
Net realized and unrealized gain on investments | 0.99 | 1.43 | ||||||
Total from investment operations | 0.97 | 1.43 | ||||||
Less distributions from: | ||||||||
Return of capital | — | (0.01 | ) | |||||
Total distributions | — | (0.01 | ) | |||||
Net asset value, end of period/year | $ | 12.39 | $ | 11.42 | ||||
Total return 2 | 8.49 | %7 | 14.26 | % | ||||
Net assets, at end of period/year (000s) | $ | 603 | $ | 190 | ||||
Ratio of gross expenses to average net assets before expense reimbursement 3,4 | 1.80 | %8 | 2.89 | %9 | ||||
Ratio of net expenses to average net assets after expense reimbursement 4 | 1.19 | %8 | 1.20 | %9 | ||||
Ratio of net investment loss to average net assets 4,5 | (0.36 | )%8 | (0.25 | )% | ||||
Portfolio Turnover Rate | 28 | %7 | 48 | % | ||||
* | Eventide Large Cap Focus Fund Class N commenced operations on June 30, 2022. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor. |
4. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Amount represents less than $0.01 per share. |
7. | Not annualized. |
8. | Annualized. |
9. | The ratio includes 0.01% for the year ended June 30, 2023 attributed to line of credit fees. |
See accompanying notes to financial statements.
E V E N T I D E | 100 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Large Cap Focus Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout the Period or Year Presented |
Class C | ||||||||
Six Months Ended | ||||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 * | |||||||
Net asset value, beginning of period/year | $ | 11.36 | $ | 10.00 | ||||
Activity from investment operations: | ||||||||
Net investment loss 1 | (0.06 | ) | (0.09 | ) | ||||
Net realized and unrealized gain on investments | 0.97 | 1.45 | ||||||
Total from investment operations | 0.91 | 1.36 | ||||||
Net asset value, end of period/year | $ | 12.27 | $ | 11.36 | ||||
Total return 2 | 8.01 | %6 | 13.60 | % | ||||
Net assets, at end of period/year (000s) | $ | 46 | $ | 27 | ||||
Ratio of gross expenses to average net assets before expense reimbursement 3,4 | 2.55 | %7 | 3.64 | %8 | ||||
Ratio of net expenses to average net assets after expense reimbursement 4 | 1.94 | %7 | 1.95 | %8 | ||||
Ratio of net investment loss to average net assets 4,5 | (1.12 | )%7 | (0.93 | )% | ||||
Portfolio Turnover Rate | 28 | %6 | 48 | % | ||||
* | Eventide Large Cap Focus Fund Class N commenced operations on June 30, 2022. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor. |
4. | The ratios of expenses to average net assets and net investment loss to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Not annualized. |
7. | Annualized. |
8. | The ratio includes 0.01% for the year ended June 30, 2023 attributed to line of credit fees. |
See accompanying notes to financial statements.
E V E N T I D E | 101 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Large Cap Focus Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout the Period or Year Presented |
Class I | ||||||||
Six Months Ended | ||||||||
December 31, 2023 | Year Ended | |||||||
(Unaudited) | June 30, 2023 * | |||||||
Net asset value, beginning of period/year | $ | 11.44 | $ | 10.00 | ||||
Activity from investment operations: | ||||||||
Net investment income (loss) 1 | (0.01 | ) | 0.01 | |||||
Net realized and unrealized gain on investments | 1.00 | 1.44 | ||||||
Total from investment operations | 0.99 | 1.45 | ||||||
Less distributions from: | ||||||||
Net investment income | — | (0.00 | )6 | |||||
Return of capital | — | (0.01 | ) | |||||
Total distributions | — | (0.01 | ) | |||||
Net asset value, end of period/year | $ | 12.43 | $ | 11.44 | ||||
Total return 2 | 8.65 | %7 | 14.55 | % | ||||
Net assets, at end of period/year (000s) | $ | 24,696 | $ | 12,808 | ||||
Ratio of gross expenses to average net assets before expense reimbursement 3,4 | 1.55 | %8 | 2.64 | %9 | ||||
Ratio of net expenses to average net assets after expense reimbursement 4 | 0.94 | %8 | 0.95 | %9 | ||||
Ratio of net investment income (loss) to average net assets 4,5 | (0.11 | )%8 | 0.08 | % | ||||
Portfolio Turnover Rate | 28 | %7 | 48 | % | ||||
* | Eventide Large Cap Focus Fund Class N commenced operations on June 30, 2022. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor. |
4. | The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. |
5. | Recognition of net investment loss is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
6. | Amount represents less than $0.01 per share. |
7. | Not annualized. |
8. | Annualized. |
9. | The ratio includes 0.01% for the year ended June 30, 2023 attributed to line of credit fees. |
See accompanying notes to financial statements.
E V E N T I D E | 102 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Limited-Term Bond Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Periods or Years Presented |
Class N | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Period Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 * | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 9.68 | $ | 9.72 | $ | 10.49 | $ | 10.62 | $ | 10.38 | $ | 10.03 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment income 1 | 0.12 | 0.16 | 0.04 | 0.06 | 0.15 | 0.12 | ||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 0.24 | (0.04 | ) | (0.69 | ) | (0.01 | ) | 0.30 | 0.34 | |||||||||||||||
Total from investment operations | 0.36 | 0.12 | (0.65 | ) | 0.05 | 0.45 | 0.46 | |||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | (0.13 | ) | (0.16 | ) | (0.07 | ) | (0.07 | ) | (0.19 | ) | (0.11 | ) | ||||||||||||
Net realized gains | — | — | — | (0.07 | ) | — | — | |||||||||||||||||
Return of capital | — | (0.00 | )5 | (0.05 | ) | (0.04 | ) | (0.02 | ) | — | ||||||||||||||
Total distributions | (0.13 | ) | (0.16 | ) | (0.12 | ) | (0.18 | ) | (0.21 | ) | (0.11 | ) | ||||||||||||
Net asset value, end of period/year | $ | 9.91 | $ | 9.68 | $ | 9.72 | $ | 10.49 | $ | 10.62 | $ | 10.38 | ||||||||||||
Total return 2 | 3.77 | %6 | 1.29 | % | (6.26 | )% | 0.48 | % | 4.37 | % | 4.64 | %6 | ||||||||||||
Net assets, at end of period/year (000s) | $ | 17,983 | $ | 17,698 | $ | 5,622 | $ | 6,906 | $ | 37,973 | $ | 1,680 | ||||||||||||
Ratio of gross expenses to average net assets before expense reimbursement 3 | 0.96 | %7 | 0.91 | % | 0.84 | % | 0.86 | % | 1.11 | % | 2.41 | %7 | ||||||||||||
Ratio of net expenses to average net assets after expense reimbursement | 0.75 | %7 | 0.75 | % | 0.75 | % | 0.75 | % | 0.75 | % | 0.98 | %7 | ||||||||||||
Ratio of net investment income to average net assets 4 | 2.58 | %7 | 1.66 | % | 0.42 | % | 0.54 | % | 1.44 | % | 2.20 | %7 | ||||||||||||
Portfolio Turnover Rate | 22 | %6 | 34 | % | 48 | % | 72 | % | 71 | % | 60 | %6 | ||||||||||||
* | Eventide Limited-Term Bond Fund Class N commenced on December 14, 2018. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor. |
4. | Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
5. | Amount represents less than $0.01 per share. |
6. | Not annualized. |
7. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 103 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Limited-Term Bond Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Periods or Years Presented |
Class A | ||||||||||||||||||||||||||||
Six Months | ||||||||||||||||||||||||||||
Ended | Year | Year | Year | Year | Period | Year | ||||||||||||||||||||||
December 31, | Ended | Ended | Ended | Ended | Ended | Ended | ||||||||||||||||||||||
2023 | June 30, | June 30, | June 30, | June 30, | June 30, | October 31, | ||||||||||||||||||||||
(Unaudited) | 2023 | 2022 | 2021 | 2020 | 2019* | 2018 | ||||||||||||||||||||||
Net asset value, beginning of period/year | $ | 9.70 | $ | 9.75 | $ | 10.51 | $ | 10.65 | $ | 10.41 | $ | 10.06 | $ | 10.44 | ||||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||||||
Net investment income 1 | 0.12 | 0.14 | 0.04 | 0.03 | 0.17 | 0.14 | 0.19 | |||||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 0.25 | (0.03 | ) | (0.69 | ) | 0.01 | 5 | 0.27 | 0.37 | (0.35 | ) | |||||||||||||||||
Total from investment operations | 0.37 | 0.11 | (0.65 | ) | 0.04 | 0.44 | 0.51 | (0.16 | ) | |||||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||||||
Net investment income | (0.13 | ) | (0.16 | ) | (0.06 | ) | (0.07 | ) | (0.18 | ) | (0.16 | ) | (0.20 | ) | ||||||||||||||
Net realized gains | — | — | — | (0.07 | ) | — | — | (0.02 | ) | |||||||||||||||||||
Return of capital | — | (0.00 | )6 | (0.05 | ) | (0.04 | ) | (0.02 | ) | — | — | |||||||||||||||||
Total distributions | (0.13 | ) | (0.16 | ) | (0.11 | ) | (0.18 | ) | (0.20 | ) | (0.16 | ) | (0.22 | ) | ||||||||||||||
Paid-in-capital from redemption fees 1 | — | — | — | — | — | — | 0.00 | 6 | ||||||||||||||||||||
Net asset value, end of period/year | $ | 9.94 | $ | 9.70 | $ | 9.75 | $ | 10.51 | $ | 10.65 | $ | 10.41 | $ | 10.06 | ||||||||||||||
Total return 2 | 3.83 | %7 | 1.14 | % | (6.20 | )% | 0.45 | % | 4.30 | % | 5.08 | %7 | (1.52 | )% | ||||||||||||||
Net assets, at end of period/year (000s) | $ | 10,811 | $ | 19,390 | $ | 22,210 | $ | 29,596 | $ | 12,873 | $ | 13,977 | $ | 17,191 | ||||||||||||||
Ratio of gross expenses to average net assets before expense reimbursement 3 | 1.01 | %8 | 0.96 | % | 0.89 | % | 0.91 | % | 1.16 | % | 2.09 | %8 | 1.62 | % | ||||||||||||||
Ratio of net expenses to average net assets after expense reimbursement | 0.80 | %8 | 0.80 | % | 0.80 | % | 0.80 | % | 0.80 | % | 1.08 | %8 | 1.25 | % | ||||||||||||||
Ratio of net investment income to average net assets 4 | 2.49 | %8 | 1.47 | % | 0.37 | % | 0.27 | % | 1.63 | % | 2.05 | %8 | 1.89 | % | ||||||||||||||
Portfolio Turnover Rate | 22 | %7 | 34 | % | 48 | % | 72 | % | 71 | % | 60 | %7 | 27 | % | ||||||||||||||
* | Represents the period November 1, 2018 through June 30, 2019. See Note 1. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any and does not reflect the impact of sales charges. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor. |
4. | Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
5. | Due to the timing of shareholder transactions, and allocations of expenses among share classes, the per unit amounts presented may not coincide with the aggregate presentation on the Statements of Operations. |
6. | Amount represents less than $0.01 per share. |
7. | Not annualized. |
8. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 104 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Limited-Term Bond Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Periods or Years Presented |
Class C | ||||||||||||||||||||||||
Six Months Ended | ||||||||||||||||||||||||
December 31, 2023 | Year Ended | Year Ended | Year Ended | Year Ended | Period Ended | |||||||||||||||||||
(Unaudited) | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 | June 30, 2019 * | |||||||||||||||||||
Net asset value, beginning of period/year | $ | 9.64 | $ | 9.68 | $ | 10.44 | $ | 10.60 | $ | 10.37 | $ | 10.03 | ||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||
Net investment income (loss) 1 | 0.09 | 0.07 | (0.04 | ) | (0.05 | ) | (0.01 | ) | 0.07 | |||||||||||||||
Net realized and unrealized gain (loss) on investments | 0.24 | (0.02 | ) | (0.68 | ) | 0.01 | 5 | 0.37 | 0.35 | |||||||||||||||
Total from investment operations | 0.33 | 0.05 | (0.72 | ) | (0.04 | ) | 0.36 | 0.42 | ||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | (0.10 | ) | (0.09 | ) | (0.02 | ) | (0.01 | ) | (0.10 | ) | (0.08 | ) | ||||||||||||
Net realized gains | — | — | — | (0.07 | ) | — | — | |||||||||||||||||
Return of capital | — | (0.00 | )6 | (0.02 | ) | (0.04 | ) | (0.03 | ) | — | ||||||||||||||
Total distributions | (0.10 | ) | (0.09 | ) | (0.04 | ) | (0.12 | ) | (0.13 | ) | (0.08 | ) | ||||||||||||
Net asset value, end of period/year | $ | 9.87 | $ | 9.64 | $ | 9.68 | $ | 10.44 | $ | 10.60 | $ | 10.37 | ||||||||||||
Total return 2 | 3.36 | %7 | 0.49 | % | (6.94 | )% | (0.38 | )% | 3.50 | % | 4.24 | %7 | ||||||||||||
Net assets, at end of period/year (000s) | $ | 1,323 | $ | 1,618 | $ | 1,678 | $ | 1,545 | $ | 401 | $ | 72 | ||||||||||||
Ratio of gross expenses to average net assets before expense reimbursement 3 | 1.76 | %8 | 1.71 | % | 1.64 | % | 1.66 | % | 1.91 | % | 3.21 | %8 | ||||||||||||
Ratio of net expenses to average net assets after expense reimbursement | 1.55 | %8 | 1.55 | % | 1.55 | % | 1.55 | % | 1.55 | % | 1.78 | %8 | ||||||||||||
Ratio of net investment income (loss) to average net assets 4 | 1.77 | %8 | 0.74 | % | (0.37 | )% | (0.50 | )% | (0.08 | )% | 1.45 | %8 | ||||||||||||
Portfolio Turnover Rate | 22 | %7 | 34 | % | 48 | % | 72 | % | 71 | % | 60 | %7 | ||||||||||||
* | Eventide Limited-Term Bond Fund Class C commenced on December 14, 2018. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements/recapture by the advisor. |
4. | Recognition of net investment income (loss) is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
5. | Due to the timing of shareholder transactions, and allocations of expenses among share classes, the per unit amounts presented may not coincide with the aggregate presentation on the Statements of Operations. |
6. | Amount represents less than $0.01 per share. |
7. | Not annualized. |
8. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 105 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Limited-Term Bond Fund |
FINANCIAL HIGHLIGHTS |
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout Each of the Periods or Years Presented |
Class I | ||||||||||||||||||||||||||||
Six Months | ||||||||||||||||||||||||||||
Ended | Year | Year | Year | Year | Period | Year | ||||||||||||||||||||||
December 31, | Ended | Ended | Ended | Ended | Ended | Ended | ||||||||||||||||||||||
2023 | June 30, | June 30, | June 30, | June 30, | June 30, | October 31, | ||||||||||||||||||||||
(Unaudited) | 2023 | 2022 | 2021 | 2020 | 2019* | 2018 | ||||||||||||||||||||||
Net asset value, beginning of period/year | $ | 9.93 | $ | 9.97 | $ | 10.75 | $ | 10.89 | $ | 10.64 | $ | 10.27 | $ | 10.63 | ||||||||||||||
Activity from investment operations: | ||||||||||||||||||||||||||||
Net investment income 1 | 0.14 | 0.16 | 0.07 | 0.05 | 0.17 | 0.16 | 0.22 | |||||||||||||||||||||
Net realized and unrealized gain (loss) on investments | 0.24 | (0.02 | ) | (0.71 | ) | 0.01 | 5 | 0.31 | 0.38 | (0.36 | ) | |||||||||||||||||
Total from investment operations | 0.38 | 0.14 | (0.64 | ) | 0.06 | 0.48 | 0.54 | (0.14 | ) | |||||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||||||
Net investment income | (0.14 | ) | (0.18 | ) | (0.08 | ) | (0.09 | ) | (0.21 | ) | (0.17 | ) | (0.20 | ) | ||||||||||||||
Net realized gains | — | — | — | (0.07 | ) | — | — | (0.02 | ) | |||||||||||||||||||
Return of capital | — | (0.00 | )6 | (0.06 | ) | (0.04 | ) | (0.02 | ) | — | — | |||||||||||||||||
Total distributions | (0.14 | ) | (0.18 | ) | (0.14 | ) | (0.20 | ) | (0.23 | ) | (0.17 | ) | (0.22 | ) | ||||||||||||||
Paid-in-capital from redemption fees 1 | — | — | — | — | — | — | (0.00 | )6 | ||||||||||||||||||||
Net asset value, end of period/year | $ | 10.17 | $ | 9.93 | $ | 9.97 | $ | 10.75 | $ | 10.89 | $ | 10.64 | $ | 10.27 | ||||||||||||||
Total return 2 | 3.87 | %7 | 1.46 | % | (6.02 | )% | 0.65 | % | 4.58 | % | 5.30 | %7 | (1.31 | )% | ||||||||||||||
Net assets, at end of period/year (000s) | $ | 101,105 | $ | 88,666 | $ | 152,546 | $ | 144,089 | $ | 28,847 | $ | 3,230 | $ | 1,030 | ||||||||||||||
Ratio of gross expenses to average net assets before expense reimbursement 3 | 0.76 | %8 | 0.71 | % | 0.64 | % | 0.66 | % | 0.91 | % | 1.97 | %8 | 1.38 | % | ||||||||||||||
Ratio of net expenses to average net assets after expense reimbursement | 0.55 | %8 | 0.55 | % | 0.55 | % | 0.55 | % | 0.55 | % | 0.81 | %8 | 1.00 | % | ||||||||||||||
Ratio of net investment income to average net assets 4 | 2.79 | %8 | 1.68 | % | 0.64 | % | 0.49 | % | 1.58 | % | 2.30 | %8 | 2.10 | % | ||||||||||||||
Portfolio Turnover Rate | 22 | %7 | 34 | % | 48 | % | 72 | % | 71 | % | 60 | %7 | 27 | % | ||||||||||||||
* | Represents the period November 1, 2018 through June 30, 2019. See Note 1. |
1. | Per share amounts calculated using the average shares method. |
2. | Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the advisor not waived a portion of the Fund’s expenses in certain periods, total returns would have been lower. |
3. | Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the advisor. |
4. | Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. |
5. | Due to the timing of shareholder transactions, and allocations of expenses among share classes, the per unit amounts presented may not coincide with the aggregate presentation on the Statements of Operations. |
6. | Amount represents less than $0.01 per share. |
7. | Not annualized. |
8. | Annualized. |
See accompanying notes to financial statements.
E V E N T I D E | 106 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Funds | |
Notes to Financial Statements | December 31, 2023 |
1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES
Mutual Fund Series Trust (the “Trust”), was organized as an Ohio business trust on February 27, 2006. The Trust is registered as an open-end management investment company under the Investment Company Act of 1940, as amended (“1940 Act”). The Trust currently consists of thirty-seven series. These financial statements include the following series: Eventide Balanced Fund (formerly Eventide Multi-Asset Income Fund), Eventide Core Bond Fund, Eventide Dividend Opportunities Fund, Eventide Exponential Technologies Fund, Eventide Gilead Fund, Eventide Healthcare & Life Sciences Fund, Eventide Large Cap Focus Fund and the Eventide Limited-Term Bond Fund (each a “Fund” or collectively the “Funds”). Each Fund except Eventide Exponential Technologies Fund and Eventide Large Cap Focus Fund is a diversified series of the Trust. Eventide Exponential Technologies Fund and Eventide Large Cap Focus Fund are non-diversified series of the Trust. The Funds’ investment advisor is Eventide Asset Management, LLC (the “Advisor”).
Eventide Balanced Fund commenced operations on July 15, 2015. The Fund’s investment objective is current income while maintaining the potential for capital appreciation.
Eventide Core Bond Fund commenced operations on July 31, 2020. The Fund’s investment objective is total return consistent with income generation.
Eventide Dividend Opportunities Fund commenced operations on September 29, 2017. The Fund’s investment objectives are dividend income and long-term capital appreciation. The Fund’s secondary objective is dividend growth.
Eventide Exponential Technologies Fund commenced operations on June 30, 2020. The Fund’s investment objective is long-term capital appreciation.
Eventide Gilead Fund commenced operations on July 8, 2008. The Fund’s investment objective is long-term capital appreciation.
Eventide Healthcare & Life Sciences Fund commenced operations on December 27, 2012. The Fund’s investment objective is long-term capital appreciation.
Eventide Large Cap Focus Fund commenced operations on June 30, 2022. The Fund’s investment objective is long-term capital appreciation.
Eventide Limited-Term Bond Fund (formerly Epiphany FFV Strategic Income Fund) Class A and Class I shares commenced operations on July 28, 2010. On March 29, 2017, the Board of Trustees of Epiphany Funds voted to reclassify (the “Conversion”) all outstanding Class C Shares of the Epiphany FFV Strategic Income Fund to Class I shares to be effective on May 30, 2017 (the “Conversion Date”). On the Conversion Date, each Class C share was reclassified as a Class I shares equal in value to the Class C shares owned by that shareholder. The Eventide Limited-Term Bond Fund’s Class N and Class C shares commenced operations December 14, 2018. The Fund changed its fiscal year end from October 31 to June 30. The Fund’s investment objective is income.
E V E N T I D E | 107 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Each Fund offers four classes of shares, Class N, Class A, Class C and Class I. Each class differs as to sales and redemption charges and ongoing fees.
The following is a summary of significant accounting policies consistently followed by the Funds and are in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Funds are investment companies and accordingly follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 “Financial Services – Investment Companies” including Accounting Standards Update 2013-08.
a) Securities Valuation – Securities listed on an exchange are valued at the last reported sale price at the close of the regular trading session of the exchange on the business day the value is being determined, or in the case of securities listed on NASDAQ, at the NASDAQ Official Closing Price (“NOCP”). In the absence of a sale, such securities shall be valued at the last bid price on the day of valuation. Debt securities (other than short-term obligations) are valued each day by an independent pricing service approved by the Board of Trustees (the “Board”) using methods which include current market quotations from a major market maker in the securities and based on methods which include the consideration of yields or prices of securities of comparable quality, coupon, maturity and type. The Funds may invest in portfolios of open-end or closed-end investment companies (the “underlying funds”). Open-end investment companies are valued at their respective net asset values as reported by such investment companies. The underlying funds value securities in their portfolios for which market quotations are readily available at their market values (generally the last reported sale price) and all other securities and assets at their fair value by the methods established by the boards of trustees of the underlying funds. The shares of many closed-end investment companies, after their initial public offering, frequently trade at a price per share, which is different than the net asset value per share. The difference represents a market premium or market discount of such shares. There can be no assurances that the market discount or market premium on shares of any closed-end investment company purchased by the Funds will not change. The independent pricing service does not distinguish between smaller-sized bond positions known as “odd lots” and larger institutional-sized bond positions known as “round lots”. The Funds may fair value a particular bond if the Advisor does not believe that the round lot value provided by the independent pricing service reflects fair value of the Fund’s holding. Short term debt obligations having 60 days or less remaining until maturity, at time of purchase, may be valued at amortized cost, provided each such valuations represent fair value. Options are valued at their closing price on the exchange they are traded on. When no closing price is available, options are valued at their mean price.
The Fund may hold investments, such as private investments, interests in commodity pools, other non-traded securities or temporarily illiquid securities, for which market quotations are not readily available or are determined to be unreliable. These securities are valued using the “fair value” procedures approved by the Board. The Board has designated the Advisor as its valuation designee (the “Valuation Designee”) to execute these procedures. The Board may also enlist third party consultants such a valuation specialist at a public accounting firm, valuation consultant or financial officer of a security issuer on an as-needed basis to assist the Valuation Designee in determining a security-specific fair value. The Board is responsible for reviewing and approving fair value methodologies utilized by the Valuation Designee, approval of which shall be based upon whether the Valuation Designee followed the valuation procedures established by the Board.
E V E N T I D E | 108 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
The Funds utilize various methods to measure the fair value of most of their investments on a recurring basis. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of input are:
■ | Level 1 – Unadjusted quoted prices in active markets for identical assets and liabilities that the Funds have the ability to access. |
■ | Level 2 – Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument in an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. |
■ | Level 3 – Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Funds’ own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. |
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following tables summarize the inputs used as of December 31, 2023 for the Funds’ assets measured at fair value:
Eventide Balanced Fund Assets | ||||||||||||||||
Security Classifications | Level 1 | Level 2 | Level 3 | Totals | ||||||||||||
Common Stocks 1 | $ | 164,681,049 | $ | — | $ | — | $ | 164,681,049 | ||||||||
Asset Backed Securities 1 | — | 5,410,040 | — | 5,410,040 | ||||||||||||
Collateralized Mortgage Obligations 1 | — | 1,840,021 | — | 1,840,021 | ||||||||||||
Convertible Bonds 1 | — | 3,142,447 | — | 3,142,447 | ||||||||||||
Corporate Bonds 1 | — | 82,407,275 | 3,800,000 | 86,207,275 | ||||||||||||
Municipal Bonds 1 | — | 7,506,865 | — | 7,506,865 | ||||||||||||
U.S. Government & Agencies 1 | — | 70,324,180 | — | 70,324,180 | ||||||||||||
Short-Term Investments | 108,428 | — | — | 108,428 | ||||||||||||
Total | $ | 164,789,477 | $ | 170,630,828 | $ | 3,800,000 | $ | 339,220,305 | ||||||||
Eventide Core Bond Fund Assets | ||||||||||||||||
Security Classifications | Level 1 | Level 2 | Level 3 | Totals | ||||||||||||
Asset Backed Securities 1 | $ | — | $ | 3,596,628 | $ | — | $ | 3,596,628 | ||||||||
Corporate Bonds 1 | — | 52,150,203 | — | 52,150,203 | ||||||||||||
Municipal Bonds 1 | — | 5,659,101 | — | 5,659,101 | ||||||||||||
U.S. Government & Agencies 1 | — | 49,604,931 | — | 49,604,931 | ||||||||||||
Total | $ | — | $ | 111,010,863 | $ | — | $ | 111,010,863 |
E V E N T I D E | 109 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Dividend Opportunities Fund Assets | ||||||||||||||||
Security Classifications | Level 1 | Level 2 | Level 3 | Totals | ||||||||||||
Common Stocks 1 | $ | 660,796,924 | $ | — | $ | — | $ | 660,796,924 | ||||||||
Corporate Bonds 1 | — | — | 3,250,000 | 3,250,000 | ||||||||||||
Short-Term Investments | 108,779 | — | — | 108,779 | ||||||||||||
Total | $ | 660,905,703 | $ | — | $ | 3,250,000 | $ | 664,155,703 | ||||||||
Eventide Exponential Technologies Fund Assets | ||||||||||||||||
Security Classifications | Level 1 | Level 2 | Level 3 | Totals | ||||||||||||
Common Stocks 1 | $ | 122,991,339 | $ | — | $ | — | $ | 122,991,339 | ||||||||
Corporate Bonds 1 | — | — | 750,000 | 750,000 | ||||||||||||
Warrant 1 | — | — | — | — | ||||||||||||
Short-Term Investments | 12,195 | — | — | 12,195 | ||||||||||||
Total | $ | 123,003,534 | $ | — | $ | 750,000 | $ | 123,753,534 | ||||||||
Eventide Gilead Fund Assets | ||||||||||||||||
Security Classifications | Level 1 | Level 2 | Level 3 | Totals | ||||||||||||
Common Stocks 1 | $ | 3,608,570,996 | $ | — | $ | — | $ | 3,608,570,996 | ||||||||
Contingent Value Rights 1 | — | — | 3,365,186 | 3,365,186 | ||||||||||||
Private Investments 1 | — | — | 22,589,287 | 22,589,287 | ||||||||||||
Corporate Bonds 1 | — | 12,000,000 | 31,000,000 | 43,000,000 | ||||||||||||
Warrant 1 | — | — | 3,294,959 | 3,294,959 | ||||||||||||
Short-Term Investments | 5,063,928 | — | — | 5,063,928 | ||||||||||||
Total | $ | 3,613,634,924 | $ | 12,000,000 | $ | 60,249,432 | $ | 3,685,884,356 | ||||||||
Eventide Healthcare & Life Sciences Fund Assets | ||||||||||||||||
Security Classifications | Level 1 | Level 2 | Level 3 | Totals | ||||||||||||
Common Stocks 1 | $ | 1,539,489,981 | $ | — | $ | — | $ | 1,539,489,981 | ||||||||
Contingent Value Rights 1 | — | — | 1,291,743 | 1,291,743 | ||||||||||||
Private Investments 1 | — | — | 69,776,258 | 69,776,258 | ||||||||||||
Convertible Bonds 1 | — | — | 2,818,000 | 2,818,000 | ||||||||||||
Warrant 1 | — | — | 2,055,533 | 2,055,533 | ||||||||||||
Short-Term Investments | 3,306,956 | — | — | 3,306,956 | ||||||||||||
Total | $ | 1,542,796,937 | $ | — | $ | 75,941,534 | $ | 1,618,738,471 | ||||||||
Eventide Large Cap Focus Fund Assets | ||||||||||||||||
Security Classifications | Level 1 | Level 2 | Level 3 | Totals | ||||||||||||
Common Stocks 1 | $ | 29,499,372 | $ | — | $ | — | $ | 29,499,372 | ||||||||
Warrant 1 | — | — | — | — | ||||||||||||
Short-Term Investments | 1,351,058 | — | — | 1,351,058 | ||||||||||||
Total | $ | 30,850,430 | $ | — | $ | — | $ | 30,850,430 | ||||||||
Eventide Limited-Term Bond Fund Assets | ||||||||||||||||
Security Classifications | Level 1 | Level 2 | Level 3 | Totals | ||||||||||||
Asset Backed Securities 1 | $ | — | $ | 7,265,502 | $ | — | $ | 7,265,502 | ||||||||
Corporate Bonds 1 | — | 82,599,637 | — | 82,599,637 | ||||||||||||
Municipal Bonds 1 | — | 8,507,949 | — | 8,507,949 | ||||||||||||
U.S. Government & Agencies 1 | — | 29,173,835 | — | 29,173,835 | ||||||||||||
Total | $ | — | $ | 127,546,923 | $ | — | $ | 127,546,923 | ||||||||
1. | For a detailed break-out of investments by security classification, please refer to the Schedule of Investments. |
E V E N T I D E | 110 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
The following is a reconciliation of assets in which level 3 inputs were used in determining value:
Eventide Balanced Fund | ||||||||||||||||||||
Corporate Bonds | Total | |||||||||||||||||||
Beginning balance 6/30/2023 | $ | 3,800,000 | $ | 3,800,000 | ||||||||||||||||
Total realized gain (loss) | — | — | ||||||||||||||||||
Change in unrealized appreciation (depreciation) | — | — | ||||||||||||||||||
Cost of purchases | — | — | ||||||||||||||||||
Proceeds from sales | — | — | ||||||||||||||||||
Net transfers in/out of level 3 | — | — | ||||||||||||||||||
Ending balance 12/31/2023 | $ | 3,800,000 | $ | 3,800,000 | ||||||||||||||||
Eventide Dividend Opportunities Fund | ||||||||||||||||||||
Corporate Bonds | Total | |||||||||||||||||||
Beginning balance 6/30/2023 | $ | 2,000,000 | $ | 2,000,000 | ||||||||||||||||
Total realized gain (loss) | — | — | ||||||||||||||||||
Change in unrealized appreciation (depreciation) | — | — | ||||||||||||||||||
Cost of purchases | 3,250,000 | 3,250,000 | ||||||||||||||||||
Proceeds from sales | — | — | ||||||||||||||||||
Corporate action | (2,000,000 | ) | (2,000,000 | ) | ||||||||||||||||
Net transfers in/out of level 3 | — | — | ||||||||||||||||||
Ending balance 12/31/2023 | $ | 3,250,000 | $ | 3,250,000 | ||||||||||||||||
Eventide Exponential Technologies Fund | ||||||||||||||||||||
Corporate Bonds | Warrant | Total | ||||||||||||||||||
Beginning balance 6/30/2023 | $ | — | $ | — | $ | — | ||||||||||||||
Total realized gain (loss) | — | — | — | |||||||||||||||||
Change in unrealized appreciation (depreciation) | — | — | — | |||||||||||||||||
Cost of purchases | 750,000 | — | 750,000 | |||||||||||||||||
Proceeds from sales | — | — | — | |||||||||||||||||
Net transfers in/out of level 3 | — | — | — | |||||||||||||||||
Ending balance 12/31/2023 | $ | 750,000 | $ | — | $ | 750,000 | ||||||||||||||
Eventide Gilead Fund | ||||||||||||||||||||
Contingent Value | ||||||||||||||||||||
Rights | Private Investments | Corporate Bonds | Warrant | Total | ||||||||||||||||
Beginning balance 6/30/2023 | $ | 3,197,106 | $ | 18,653,578 | $ | 27,000,000 | $ | 1,274,958 | $ | 50,125,642 | ||||||||||
Total realized gain (loss) | — | — | — | — | — | |||||||||||||||
Change in unrealized appreciation (depreciation) | 168,080 | (2,064,293 | ) | — | 2,020,001 | 123,788 | ||||||||||||||
Cost of purchases | — | 6,000,002 | 11,000,000 | — | 17,000,002 | |||||||||||||||
Proceeds from sales | — | — | — | — | — | |||||||||||||||
Corporate action | — | — | (7,000,000 | ) | — | (7,000,000 | ) | |||||||||||||
Net transfers in/out of level 3 | — | — | — | — | — | |||||||||||||||
Ending balance 12/31/2023 | $ | 3,365,186 | $ | 22,589,287 | $ | 31,000,000 | $ | 3,294,959 | $ | 60,249,432 | ||||||||||
Eventide Healthcare & Life Sciences Fund | ||||||||||||||||||||
Contingent Value | ||||||||||||||||||||
Rights | Private Investments | Convertible Bonds | Warrant | Total | ||||||||||||||||
Beginning balance 6/30/2023 | $ | 1,227,225 | $ | 93,230,465 | $ | 2,818,000 | $ | 708,377 | $ | 97,984,067 | ||||||||||
Total realized gain (loss) | — | — | — | — | — | |||||||||||||||
Change in unrealized appreciation (depreciation) | 64,518 | (1,995,923 | ) | — | 1,347,156 | (584,249 | ) | |||||||||||||
Cost of purchases | — | 18,999,996 | — | — | 18,999,996 | |||||||||||||||
Proceeds from sales | — | — | — | — | — | |||||||||||||||
Corporate action | — | — | — | — | — | |||||||||||||||
Net transfers in/out of level 3 | — | (40,458,280 | ) | — | — | (40,458,280 | ) | |||||||||||||
Ending balance 12/31/2023 | $ | 1,291,743 | $ | 69,776,258 | $ | 2,818,000 | $ | 2,055,533 | $ | 75,941,534 |
E V E N T I D E | 111 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
The significant unobservable inputs used in the fair value measurement of the Funds’ Level 3 private investments were as follows:
Impact to Valuation from | ||||
Description | Valuation Technique(s) | Unobservable Input | Input | an increase in Input1 |
Arch Oncology, Inc. Series C1 | Residual Value | Net assets | $540K | Increase |
Beta Bionics, Inc. Series B, | PWERM | Revenue | $46.1M | Increase |
Beta Bionics, Inc. Series B2, | Revenue multiple | 8.00-8.50x | Increase | |
Beta Bionics, Inc. Series C, | Recovery multiple | 0.50x | Increase | |
Beta Bionics, Inc. Series C Warrant | Strategic sale | 20% probability weight | Increase | |
Beta Bionics, Inc. Series D, | IPO | 50% probability weight | Increase | |
Beta Bionics, Inc. Series D Warrant | Downside | 20% probability weight | Decrease | |
Dissolution | 10% probability weight | Decrease | ||
BioSplice Therapeutics, Inc. Series B-1 | Monte Carlo | Liquidity discount | 10% | Decrease |
Terminal FCF Growth Rate | -3% | Increase | ||
BioSplice Therapeutics, Inc. Series C Warrant | Black-Scholes Option Pricing | Risk free rate | 3.584% | Decrease |
Model | Time to expiration | 2.5 years | Increase | |
Volatility | 69.97% weighted avg | Increase | ||
Liquidity discount | 39.40% | Decrease | ||
BioSplice Therapeutics, Inc. Series C PIK | Market Comparable Companies | Volatility | 69.97% weighted average | Increase |
Liquidity discount | 39.40% | Decrease | ||
Bond sector spread | 1,386.23 bps weighted average | Decrease | ||
Casma Therapeutics, Inc. Series B1, | Market Approach | Pending financing | $0.30 | Increase |
Casma Therapeutics, Inc. Series B2, | ||||
Casma Therapeutics, Inc. Series C1, | ||||
Casma Therapeutics, Inc. Series C2 | ||||
Flare Therapeutics, Inc. Series A, | Market Approach | Recent transaction price | $1.20 | Increase |
Flare Therapeutics, Inc. Series A2, | ||||
Flare Therapeutics, Inc. Series B | ||||
Freenome Holdings, Inc. Series D | Market Approach | Pending financing | $7.54 | Increase |
Goldfinch Biopharma, Inc. Series A, | Residual Value | Net assets | $0 | Increase |
Goldfinch Biopharma, Inc. Series B, | ||||
Goldfinch Biopharma, Inc. Series B2 | ||||
Kojin Therapeutics, Inc. Series A-1, | Residual Value | Net assets | $19M | Increase |
Kojin Therapeutics, Inc. Series A-2 | ||||
Metagenomi Technologies, LLC Series B, | Market Approach | Recent transaction price | $14.07 | Increase |
Metagenomi Technologies, LLC Series B-1 | ||||
Peloton Therapeutics, Inc. - CRV | Net Present Value | Discount rate | 10% | Decrease |
Probability of success | 2.5%-75% | Increase | ||
Milestone payments | $50M-$1.1B | Increase | ||
Time horizon | 2025-2039 | Decrease | ||
Prometheus Laboratories, Inc. | Market Approach | Recent transaction price | $0.69 | Increase |
Shoreline Biosciences Series B | Option Pricing Model/Back solve | Risk free rate | 1.18% - 3.49% | Decrease |
Time to expiration | 5 years | Increase | ||
Volatility | 67.82% - 69.94% | Increase | ||
Market Equity Adjustment | -37.25% | Decrease | ||
Hope Global International 4% 01/07/2028 | Market Approach | Recent transaction price | Par | Increase |
Credit Quality | High quality Rating | Increase |
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Impact to Valuation from | ||||
Description | Valuation Technique(s) | Unobservable Input | Input | an increase in Input1 |
Vision Fund International 3.725% 02/24/2025, | Market Approach | Recent transaction price | Par | Increase |
Vision Fund International 4.74% 05/16/2025, | Credit Quality | High quality Rating | Increase | |
Vision Fund International 5.903% 09/19/2025, | ||||
Vision Fund International 5.26% 11/30/2025, | ||||
Vision Fund International 3.15% 12/15/2025, | ||||
Vision Fund International 3.223% 12/15/2026 |
1. | Represents the directional change in the fair value of the Level 3 investments that could have resulted from an increase in the corresponding input as of period end. A decrease to the unobservable input would have had the opposite effect. Significant changes in these inputs may have resulted in a significantly higher or lower fair value measurement at period end. |
The total change in unrealized appreciation or depreciation included in the Statements of Operations attributable to Level 3 investments still held at December 31, 2023 was $0, $0, $0, $123,788 and $(584,249) for the Eventide Balanced Fund, Eventide Dividend Opportunities Fund, Eventide Exponential Technologies Fund, Eventide Gilead Fund and Eventide Healthcare & Life Sciences Fund, respectively.
b) Accounting for Options – When the Funds write an option, an amount equal to the premium received by the Funds is recorded as a liability and is subsequently adjusted to the current fair value of the option written. Premiums received from writing options that expire unexercised are treated by the Funds on the expiration date as realized gains from investments. The difference between the premium and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is also treated as a realized gain, or, if the premium is less than the amount paid for the closing purchase transaction, as a realized loss. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security or currency in determining whether the Funds have realized gains or losses. If a put option is exercised, the premium reduces the cost basis of the securities purchased by the Funds.
The Advisor may use options strategies, such as puts and covered calls on individual securities, as well as options on securities indices, to generate income, to reduce portfolio volatility, or to reduce downside risk when the manager believes adverse market, political or other conditions are likely. The Advisor may also utilize a combination of puts and/or calls regarding the same security (sometimes referred to as “straddles,” “collars” or “spreads”) or utilize puts and calls on related securities. The Funds may purchase a call option on a stock (including securities of exchange traded funds (“ETFs”)) it may purchase at some point in the future. When the Funds purchase an option, the premium paid is recorded as an asset. Each day the option contract is valued in accordance with the procedures for security valuation discussed above. When an offsetting option is written (a closing transaction) or the option contract expires, the Funds realize a gain or loss and the asset representing such option contract is eliminated. When a put option is exercised, the Funds realize a gain or loss from the sale of the underlying security and the proceeds of the sale are decreased by the premiums originally paid. When a call option is exercised, the Funds purchase the underlying security and the cost basis of such purchase is increased by the premium originally paid.
c) Short Sales – The Funds may sell securities short. A short sale is a transaction in which the Funds sell securities they do not own in anticipation of a decline in the market price of the securities. To deliver the securities to the buyer, the Funds must arrange through a broker to borrow the securities and, in so doing, the Funds become obligated to replace the securities borrowed at their market price at the time of replacement, whatever that price may be. The Funds will make a profit or incur a loss as a result of a short sale depending on whether the price of the securities decrease or increase between the date of the short sale and the date on which the Funds purchased the securities to replace the borrowed securities that have been sold.
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d) Federal Income Tax – The Funds have qualified and intend to continue to qualify as regulated investment companies and to comply with the applicable provisions of the Internal Revenue Code of 1986, as amended, and to distribute substantially all of their taxable income to their shareholders. Therefore, no federal income or excise tax provisions are required.
As of and during the six months ended December 31, 2023, the Funds did not have a liability for any unrecognized tax expense. The Funds recognize interest and penalties, if any, related to unrecognized tax expense as income tax expense in the Statements of Operations. As of December 31, 2023, the Funds did not incur any interest or penalties. The Trust’s officers have analyzed the Funds’ tax positions and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on returns filed for open tax years ended June 30, 2021, to June 30, 2023, or expected to be taken in the Funds’ June 30, 2024, year-end tax return.
e) Distributions to Shareholders – Distributions to shareholders, which are determined in accordance with income tax regulations and may differ from GAAP, are recorded on the ex-dividend date. Each Fund typically distributes substantially all of its net investment income in the form of dividends, interest and taxable capital gains to its shareholders. These distributions are automatically reinvested in the Fund unless you request cash distributions on your application or through a written request to the Fund. Each Fund expects that its distributions will consist of both capital gains, interest and dividend income. Each Fund may make distributions of its net realized capital gains (after any reductions for capital loss carry forwards) annually except for the Balanced Fund which is monthly. The Funds intend to make quarterly distributions if applicable.
f) Multiple Class Allocations – Income, non-class specific expenses and realized/unrealized gains or losses are allocated to each class based on relative net assets. Distribution fees are charged to each respective share class in accordance with the distribution plan. Expenses of the Trust that are directly identifiable to a specific fund are charged to that fund. Expenses, which are not readily identifiable to a specific fund, are allocated in such a manner as deemed equitable, taking into consideration the nature and type of expense and the relative sizes of the funds in the Trust.
g) Security Transactions and Investment Income – Investment and shareholder transactions are recorded on the trade date. The Funds determine the gain or loss realized from the investment transactions by comparing the specific identified cost of the security lot sold with the net sales proceeds. Dividend income is recognized on the ex-dividend date or as soon as information is available to the Funds and interest income is recognized on an accrual basis. Discounts and premiums on debt securities are amortized over their respective lives using the effective interest method, except certain callable debt securities that are held at premium and will be amortized to the earliest call date. Withholding taxes on foreign dividends have been provided for in accordance with the Funds’ understanding of the applicable country’s tax rules and rates. Distributions received from a Fund’s investments in MLPs generally are comprised of income and return of capital. The Funds record these distributions as investment income and subsequently adjusts these distributions within the components of net assets based upon their tax treatment when the information becomes available. Distribution from REITs are initially recorded as dividend income and, to the extent such represent a return of capital or capital gain for tax purposes, are reclassified when such information becomes available.
h) Use of Estimates – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of
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contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
i) Indemnification – The Trust indemnifies its officers and Trustees for certain liabilities that may arise from the performance of their duties to the Trust. In the normal course of business, the Trust may enter into contracts that contain a variety of representations and warranties and provide general indemnifications. The Funds’ maximum exposure under these arrangements is dependent on future claims that may be made against the Funds and, therefore, cannot be estimated; however, management considers the risk of loss from such claims to be remote.
j) Redemption Fees and Sales Charges (loads) – A $15 fee may be charged for redemptions made by wire. Redemptions of Eventide Exponential Technologies Fund within 180 days of purchase were subject to a redemption fee of 1.00% effective until June 26, 2023. A maximum sales charge of 5.75% is imposed on Class A shares of the Funds. The maximum deferred sales charge of 1.00% on Class A shares applies only to purchases of $1 million or more made without an initial sales charge and applies to shares sold within 18 months of purchase. The maximum deferred sales charge of 1.00% on Class C shares applies to shares sold within 12 months of purchase. The respective shareholders pay such CDSC charges, which are not an expense of the Funds. For the six months ended December 31, 2023, there were the following redemption fees paid to the Funds and CDSC fees paid to the distributor:
CDSC Fees | ||||||||||||
Fund | Redemption Fees | Class A | Class C | |||||||||
Eventide Balanced Fund | $ | — | $ | — | $ | 165 | ||||||
Eventide Core Bond Fund | — | — | 19 | |||||||||
Eventide Dividend Opportunities Fund | — | — | 4,081 | |||||||||
Eventide Exponential Technologies Fund | 4251 | — | 12 | |||||||||
Eventide Gilead Fund | — | — | 817 | |||||||||
Eventide Healthcare & Life Sciences Fund | — | — | 304 | |||||||||
Eventide Limited-Term Bond Fund | — | — | 111 |
1. | Redemption fee received after effective date due to timing. |
k) Cash and cash equivalents – Cash and cash equivalents are held with a financial institution. Cash and cash equivalents of the Funds may be placed in deposit accounts at U.S. banks and such deposits generally exceed Federal Deposit Insurance Corporation (“FDIC”) insurance limits. The FDIC insures deposit accounts up to $250,000 for each accountholder. The counterparty is generally a single bank rather than a group of financial institutions; thus there may be a greater counterparty credit risk. The Funds place deposits only with those counterparties which are believed to be creditworthy and there has been no history of loss.
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2. INVESTMENT TRANSACTIONS
For the six months ended December 31, 2023, aggregate purchases and proceeds from sales of investment securities (excluding short-term investments) for the Funds were as follows:
Fund | Purchases | Sales | ||||||
Eventide Balanced Fund | $ | 72,244,507 | $ | 78,650,400 | ||||
Eventide Core Bond Fund | 54,214,334 | 21,468,683 | ||||||
Eventide Dividend Opportunities Fund | 183,862,739 | 132,670,132 | ||||||
Eventide Exponential Technologies Fund | 40,493,626 | 37,395,969 | ||||||
Eventide Gilead Fund | 631,346,768 | 751,182,327 | ||||||
Eventide Healthcare & Life Sciences Fund | 688,609,944 | 709,461,744 | ||||||
Eventide Large Cap Focus Fund | 19,662,868 | 5,545,897 | ||||||
Eventide Limited-Term Bond Fund | 28,614,559 | 28,459,228 |
3. INVESTMENT ADVISORY AGREEMENT AND TRANSACTIONS WITH RELATED PARTIES
Eventide Asset Management, LLC acts as investment manager to the Funds pursuant to the terms of an investment advisory agreement between the Advisor and the Trust (the “Advisory Agreement”). Boyd Watterson Asset Management, LLC serves as sub-adviser to the Eventide Limited-Term Bond Fund, the Eventide Core Bond Fund, and a portion of the Eventide Balanced Fund’s portfolio. Under the terms of the Advisory Agreement, the Advisor manages the investment operations of the Funds in accordance with the Funds’ investment policies and restrictions. The Advisor provides the Funds with investment advice and supervision and furnishes an investment program for the Funds. The fees paid by the Funds to the Advisor are described in greater detail below. Prior to March 2, 2020, Eventide Balanced Fund paid to the advisor, as of the last day of each month, an annualized fee equal to 0.73% of its average net assets. The Advisor pays expenses incurred by it in connection with acting as investment manager to the Funds other than costs (including taxes and brokerage commissions, borrowing costs, costs of investing in underlying funds and extraordinary expenses, if any) of securities purchased for the Funds and certain other expenses paid by the Funds (as detailed in the Advisory Agreement). The Advisor pays for all employees, office space and facilities required by it to provide services under the Advisory Agreement, with the exception of specific items of expense (as detailed in the Advisory Agreement). For the six months ended December 31, 2023, advisory fees of $995,429, $142,173, $2,200,874, $631,554, $17,613,759, $8,796,916, $73,537 and $202,386 were incurred by the Eventide Balanced Fund, Eventide Core Bond Fund, Eventide Dividend Opportunities Fund, Eventide Exponential Technologies Fund, Eventide Gilead Fund, Eventide Healthcare & Life Sciences Fund, Eventide Large Cap Focus Fund and Eventide Limited-Term Bond Fund, respectively, before the waivers and reimbursements described below.
Each Fund is authorized to pay the Advisor an annual fee based on its average daily net assets. The advisory fee is paid monthly. The Advisor has contractually agreed to waive fees and/or reimburse expenses, but only to the extent necessary to maintain each Fund’s total annual operating expenses (excluding front-end or contingent deferred loads, taxes, leverage interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expenses on securities sold short, underlying fund fees and expenses or extraordinary expenses such as litigation) at a certain level through October 31, 2024. This agreement may be terminated by the Board only on 60 days’ written notice to the Advisor and upon the termination of the Advisory Agreement between the Trust and the Advisor. Fee waivers and expense reimbursements are subject to possible recoupment by the Advisor from the Funds in future years on a rolling three-year basis (within the three years after the fees have been waived or reimbursed) if, after the recoupment is taken into account, such recoupment can be achieved
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within the lesser of the expense limitation in place at the time of waiver/reimbursement and the expense limitation in place at the time of recapture. Each waiver or reimbursement by the Advisor is subject to repayment by the Fund within the three years following the year in which that particular expense is incurred, if the Fund is able to make the repayment without exceeding the expense limitation in effect at that time and the repayment is approved by the Board.
The following table lists the contractual advisory fee and the expense limitation for each Fund.
Fund | Contractual Advisory Fee | Expense Limitation | ||||
Eventide Balanced Fund | 0.60% | Class N: | 1.02% | |||
Class A: | 1.07% | |||||
Class C: | 1.82% | |||||
Class I: | 0.82% | |||||
Eventide Core Bond Fund | 0.34% * | Class N: | 0.78% | |||
Class A: | 0.83% | |||||
Class C: | 1.58% | |||||
Class I: | 0.58% | |||||
Eventide Dividend Opportunities Fund | 0.73% | Class N: | 1.15% | |||
Class A: | 1.20% | |||||
Class C: | 1.95% | |||||
Class I: | 0.95% | |||||
Eventide Exponential Technologies Fund | 1.10% | Class N: | 1.63% | |||
Class A: | 1.68% | |||||
Class C: | 2.43% | |||||
Class I: | 1.43% | |||||
Eventide Gilead Fund | 1.00% of the first $2 billion; | Class N: | 1.62% | |||
0.95% on the next $1 billion; | Class A: | 1.67% | ||||
0.90% on the next $1 billion; | Class C: | 2.42% | ||||
and 0.85% thereafter | Class I: | 1.42% | ||||
Eventide Healthcare & Life Sciences Fund | 1.10% | Class N: | 1.63% | |||
Class A: | 1.68% | |||||
Class C: | 2.43% | |||||
Class I: | 1.43% | |||||
Eventide Large Cap Focus Fund | 0.73% | Class N: | 1.14% | |||
Class A: | 1.19% | |||||
Class C: | 1.94% | |||||
Class I: | 0.94% | |||||
Eventide Limited-Term Bond Fund | 0.31% * | Class N: | 0.75% | |||
Class A: | 0.80% | |||||
Class C: | 1.55% | |||||
Class I: | 0.55% |
* | Effective May 31, 2023, the contractual advisory fees of Eventide Core Bond Fund and Eventide Limited-Term Bond Fund were reduced from 0.36% to 0.34% and 0.33% to 0.31%, respectively. |
For the six months ended December 31, 2023, the Manager waived no advisory fees from Eventide Gilead Fund and Eventide Healthcare & Life Sciences Fund and waived fees of $157,026, $72,967, $41,498, $29,311, $60,663 and $136,899 from the Eventide Balanced Fund, Eventide Core Bond Fund, Eventide Dividend Opportunities Fund, Exponential Technologies Fund, Eventide Large Cap Focus Fund and Eventide Limited-Term Bond Fund,
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respectively. As of December 31, 2023, the Advisor has waived/reimbursed expenses that may be recovered no later than June 30 of the years indicated below:
2024 | 2025 | 2026 | ||||||||||
Eventide Balanced Fund | $ | 65,335 | $ | — | $ | 276,044 | ||||||
Eventide Core Bond Fund | 99,512 | 201,020 | 164,775 | |||||||||
Eventide Dividend Opportunities Fund | 64,772 | — | 391,061 | |||||||||
Eventide Exponential Technologies Fund | 53,115 | — | 69,721 | |||||||||
Eventide Large Cap Focus Fund | — | — | 107,732 | |||||||||
Eventide Limited-Term Bond Fund | 133,760 | 165,476 | 243,710 |
The Eventide Gilead Fund and Eventide Healthcare & Life Sciences Fund do not have any expenses previously waived by the Advisor that are subject to recapture and did not waive any further expenses during the six months ended December 31, 2023.
Pursuant to the Management Services Agreement between the Trust and MFund Services, LLC (“MFund”), MFund provides the Funds with management and legal administrative services (the “Management Services Agreement”). For these services, the Funds pay MFund an annual asset-based fee in accordance with the following schedule applied at the Fund family level (i.e., all the Funds in the Trust advised by the Advisor): 0.10% of net assets up to $50 million; 0.07% of net assets from $50 million to $100 million; 0.05% of net assets from $100 million to $250 million; 0.04% of net assets from $250 million to $500 million; 0.03% of net assets from $500 million to $1 billion; 0.02% of net assets from $1 billion to $5 billion; and 0.01% of assets from $5 billion and above. In addition, the Funds reimburse MFund for any reasonable out-of-pocket expenses incurred in the performance of its duties under the Management Services Agreement. The amounts due to MFund for the Management Services Agreement are listed in the Statements of Assets and Liabilities under “Payable to related parties” and the amounts accrued for the year are shown in the Statements of Operations under “Legal administration fees/Management service fees.”
Pursuant to the Compliance Services Agreement, MFund provides chief compliance officer services to the Funds. For these services, the Funds pay MFund $1,200 per month for the first fund in the fund family and $400 each additional fund; $400 for each adviser and sub-adviser; and ..0025% of the assets of each Fund. In addition, the Funds reimburse MFund for any reasonable out-of-pocket expenses incurred in the performance of its duties under the Compliance Services Agreement.
The amounts due to MFund for chief compliance officer services are listed in the Statements of Assets and Liabilities under “Compliance officer fees payable” and the amounts accrued for the year are shown in the Statements of Operations under “Compliance officer fees.”
A trustee of the Trust is also the controlling member of MFund and the investment advisers to other series of the Trust and is not paid any fees directly by the Trust for serving in such capacities. Trustees who are not “interested persons” as that term is defined in the 1940 Act, are paid a quarterly retainer and receive compensation for each special Board meeting and Risk and Compliance Committee meeting attended. The fees paid to the Independent Trustees for their attendance at a meeting will be shared equally by the funds of the Trust in which the meeting relates. The Lead Independent Trustee of the Trust, the Chairman of the Trust’s Audit Committee and the Chairman of the Risk and Compliance Committee receive an additional quarterly retainer. The “interested persons” of the Trust receive no compensation from the Funds. The Trust reimburses each Trustee and Officer for his or her travel and other expenses related to attendance at such meetings.
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Ultimus Fund Solutions, LLC (“UFS”), an affiliate of the distributor, provides administrative, fund accounting, and transfer agency services to the Funds pursuant to agreements with the Trust, for which it receives from each Fund: (i) basis points in decreasing amounts as assets reach certain breakpoints; and (ii) any related out-of-pocket expenses.
Blu Giant, LLC (“Blu Giant”), an affiliate of UFS and the distributor, provides EDGAR conversion and filing services as well as print management services for the Funds on an ad-hoc basis. For the provision of these services, Blu Giant receives customary fees from the Funds.
The Trust’s officers are not paid any fees directly by the Trust for serving in such capacity except for the chief compliance officer.
The Trust has adopted a distribution plan pursuant to rule 12b-1 under the 1940 Act for each class of shares except Class I, that allows the Funds to pay distribution and shareholder servicing expenses of up to 0.25% per annum for the Class N shares, up to 0.50% per annum for the Class A shares and up to 1.00% for the Class C shares based on average daily net assets of each class. The Class N shares are currently paying 0.20% per annum of 12b-1 fees, Class A shares are currently paying 0.25% per annum of 12b-1 fees and Class C shares are currently paying 1.00% per annum of 12b-1 fees.
The 12b-1 fees may be used for a variety of purposes, including compensating dealers and other financial service organizations for eligible services provided by those parties to the Funds and their shareholders and to reimburse Northern Lights Distributors, LLC (the “Distributor”) and the Manager for distribution related expenses.
For the six months ended December 31, 2023, the Distributor received $12,980, $138, $21,319, $5,938, $59,632, $29,474, $982 and $1,286 in underwriter commissions from the sale of Class A shares of the Fund from the Eventide Balanced Fund, Eventide Core Bond Fund, Eventide Dividend Opportunities Fund, Eventide Exponential Technologies Fund, Eventide Gilead Fund, Eventide Healthcare & Life Sciences Fund, Eventide Large Cap Focus Fund and Eventide Limited-Term Bond Fund, respectively.
4. DISTRIBUTIONS TO SHAREHOLDERS AND TAX COMPONENTS OF CAPITAL
The following table represents aggregate cost for federal tax purposes, including options written, for the Funds as of December 31, 2023 and differs from market value by net unrealized appreciation/depreciation which consisted of:
Total Unrealized | ||||||||||||||||
Gross Unrealized | Gross Unrealized | Appreciation | ||||||||||||||
Fund | Aggregate Cost | Appreciation | Depreciation | (Depreciation) | ||||||||||||
Eventide Balanced Fund | $ | 310,826,128 | $ | 43,747,249 | $ | (15,353,072 | ) | $ | 28,394,177 | |||||||
Eventide Core Bond Fund | 114,731,116 | 1,573,168 | (5,293,421 | ) | (3,720,253 | ) | ||||||||||
Eventide Dividend Opportunities Fund | 540,161,501 | 134,504,972 | (10,510,770 | ) | 123,994,202 | |||||||||||
Eventide Exponential Technologies Fund | 94,864,569 | 35,994,244 | (7,105,279 | ) | 28,888,965 | |||||||||||
Eventide Gilead Fund | 2,393,235,278 | 1,429,791,384 | (137,142,306 | ) | 1,292,649,078 | |||||||||||
Eventide Healthcare & Life Sciences Fund | 1,470,658,639 | 371,474,296 | (223,394,464 | ) | 148,079,832 | |||||||||||
Eventide Large Cap Focus Fund | 26,093,459 | 4,934,884 | (177,913 | ) | 4,756,971 | |||||||||||
Eventide Limited-Term Bond Fund | 130,546,244 | 743,367 | (3,742,688 | ) | (2,999,321 | ) |
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The tax character of fund distributions for the years ended June 30, 2023 and June 30, 2022 was as follows:
For the year ended June 30, 2023: | ||||||||||||||||
Ordinary | Long-Term | Return of | ||||||||||||||
Fund | Income | Capital Gains | Capital | Total | ||||||||||||
Eventide Balanced Fund | $ | 4,832,162 | $ | 3,689,551 | $ | 1,039,779 | $ | 9,561,492 | ||||||||
Eventide Core Bond Fund | 1,536,982 | — | — | 1,536,982 | ||||||||||||
Eventide Dividend Opportunities Fund | 3,346,718 | 3,513,286 | 1,113,976 | 7,973,980 | ||||||||||||
Eventide Exponential Technologies Fund | — | — | — | — | ||||||||||||
Eventide Gilead Fund | — | 172,246,986 | — | 172,246,986 | ||||||||||||
Eventide Healthcare & Life Sciences Fund | — | — | — | — | ||||||||||||
Eventide Large Cap Focus Fund | 4,107 | — | 5,791 | 9,898 | ||||||||||||
Eventide Limited-Term Bond Fund | 2,675,469 | — | 42,422 | 2,717,891 | ||||||||||||
For the year ended June 30, 2022: | ||||||||||||||||
Ordinary | Long-Term | Return of | ||||||||||||||
Fund | Income | Capital Gains | Capital | Total | ||||||||||||
Eventide Balanced Fund | $ | 11,154,838 | $ | 13,561,075 | $ | — | $ | 24,715,913 | ||||||||
Eventide Core Bond Fund | 1,309,050 | — | 152,476 | 1,461,526 | ||||||||||||
Eventide Dividend Opportunities Fund | 5,984,302 | 8,263,195 | — | 14,247,497 | ||||||||||||
Eventide Exponential Technologies Fund | 1,906,725 | — | — | 1,906,725 | ||||||||||||
Eventide Gilead Fund | — | 327,575,226 | — | 327,575,226 | ||||||||||||
Eventide Healthcare & Life Sciences Fund | 34,043,234 | 158,591,589 | — | 192,634,823 | ||||||||||||
Eventide Limited-Term Bond Fund | 1,300,163 | 50,373 | 1,089,637 | 2,440,173 |
As of June 30, 2023, the components of accumulated earnings/(losses) on a tax basis were as follows:
Undistributed | Undistributed | Post October Loss | Capital Loss | Other | Unrealized | Total | ||||||||||||||||||||||
Ordinary | Long-Term | and | Carry | Book/Tax | Appreciation/ | Accumulated | ||||||||||||||||||||||
Portfolio | Income | Capital Gains | Late Year Loss | Forwards | Differences | (Depreciation) | Earnings/(Losses) | |||||||||||||||||||||
Eventide Balanced Fund | $ | — | $ | — | $ | (9,672,041 | ) | $ | (3,743,606 | ) | $ | — | $ | 9,342,828 | $ | (4,072,819 | ) | |||||||||||
Eventide Core Bond Fund | 22,168 | — | (1,744,260 | ) | (9,399,631 | ) | — | (7,964,744 | ) | (19,086,467 | ) | |||||||||||||||||
Eventide Dividend Opportunities Fund | — | — | (38,343,750 | ) | (5,332,097 | ) | — | 57,155,197 | 13,479,350 | |||||||||||||||||||
Eventide Exponential Technologies Fund | — | — | (19,293,707 | ) | (30,865,266 | ) | — | 16,442,549 | (33,716,424 | ) | ||||||||||||||||||
Eventide Gilead Fund | — | — | (47,736,460 | ) | (10,943,785 | ) | — | 1,159,520,215 | 1,100,839,970 | |||||||||||||||||||
Eventide Healthcare & Life Sciences Fund | — | — | (8,463,362 | ) | (54,846,012 | ) | — | 224,870,595 | 161,561,221 | |||||||||||||||||||
Eventide Large Cap Focus Fund | — | — | (267,344 | ) | (8,133 | ) | — | 1,650,799 | 1,375,322 | |||||||||||||||||||
Eventide Limited-Term Bond Fund | — | — | (4,094,436 | ) | (3,449,767 | ) | — | (6,640,330 | ) | (14,184,533 | ) |
The difference between book basis and tax basis undistributed net investment income/(loss), accumulated net realized gain/(loss), and unrealized appreciation/(depreciation) from investments is primarily attributable to the tax deferral of losses on wash sales, and adjustments for partnerships, real estate investment trusts, C-Corporation return of capital.
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Late year losses incurred after December 31 within the fiscal year are deemed to arise on the first business day of the following fiscal year for tax purposes. The Funds incurred and elected to defer such late year losses as follows:
Late Year | ||||
Fund | Losses | |||
Eventide Exponential Technologies Fund | $ | 502,291 | ||
Eventide Gilead Fund | 12,330,410 | |||
Eventide Healthcare & Life Sciences Fund | 8,463,362 | |||
Eventide Large Cap Focus Fund | 13 |
Capital losses incurred after October 31 within the fiscal year are deemed to arise on the first business day of the following fiscal year for tax purposes. The Funds incurred and elected to defer such capital losses as follows:
Portfolio | Losses | |||
Eventide Balanced Fund | $ | 9,672,041 | ||
Eventide Core Bond Fund | 1,744,260 | |||
Eventide Dividend Opportunities Fund | 38,343,750 | |||
Eventide Exponential Technologies Fund | 18,791,416 | |||
Eventide Gilead Fund | 35,406,050 | |||
Eventide Large Cap Focus Fund | 267,331 | |||
Eventide Limited-Term Bond Fund | 4,094,436 |
At June 30, 2023, the Funds had capital loss carry forwards for federal income tax purposes available to offset future capital gains, as follows:
Non-Expiring | ||||||||||||
Portfolio | Short-Term | Long-Term | Total | |||||||||
Eventide Balanced Fund | $ | 2,115,758 | $ | 1,627,848 | $ | 3,743,606 | ||||||
Eventide Core Bond Fund | 3,391,429 | 6,008,202 | 9,399,631 | |||||||||
Eventide Dividend Opportunities Fund | 4,101,249 | 1,230,848 | 5,332,097 | |||||||||
Eventide Exponential Technologies Fund | 25,078,444 | 5,786,822 | 30,865,266 | |||||||||
Eventide Gilead Fund | 10,943,785 | — | 10,943,785 | |||||||||
Eventide Healthcare & Life Sciences Fund | 54,846,012 | — | 54,846,012 | |||||||||
Eventide Large Cap Focus Fund | 8,133 | — | 8,133 | |||||||||
Eventide Limited-Term Bond Fund | 1,143,655 | 2,306,112 | 3,449,767 |
Permanent book and tax differences, primarily attributable to the book/tax basis treatment of net operating losses, distributions in excess, and adjustments for prior year tax returns, resulted in reclassifications for the Funds for the fiscal year ended June 30, 2023, as follows:
Paid | ||||||||
In | Accumulated | |||||||
Portfolio | Capital | Earnings (Losses) | ||||||
Eventide Balanced Fund | $ | 6,386 | $ | (6,386 | ) | |||
Eventide Dividend Opportunities Fund | 81,501 | (81,501 | ) | |||||
Eventide Exponential Technologies Fund | (1,415,338 | ) | 1,415,338 | |||||
Eventide Gilead Fund | (33,610,714 | ) | 33,610,714 | |||||
Eventide Healthcare & Life Sciences Fund | (8,826,002 | ) | 8,826,002 |
E V E N T I D E | 121 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
5) INVESTMENTS IN AFFILIATED COMPANIES
An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Companies which are affiliates of the Eventide Gilead Fund and Eventide Healthcare & Life Sciences Fund at December 31, 2023 are noted in the Funds’ Schedule of Investments. Transactions during the year with companies which are affiliates are as follows:
Eventide Gilead Fund | ||||||||||||||||||||||||||||||||||||||||
Net Increase/ | ||||||||||||||||||||||||||||||||||||||||
Dividends | Decrease in | Market Value at | Share Balance at | |||||||||||||||||||||||||||||||||||||
Market Value at | Share Balance at | Corporate | Credited to | Appreciation | Realized Gains | December 31, | December 31, | |||||||||||||||||||||||||||||||||
Description | June 30, 2023 | June 30, 2023 | Purchases | Sales Proceeds | Actions | Income | (Depreciation) | (Losses) | 2023 | 2023 | ||||||||||||||||||||||||||||||
Beta Bionics, Inc. Series B | $ | 10,046,265 | 139,527 | $ | — | $ | — | $ | — | $ | — | $ | (6 | ) | $ | — | $ | 10,046,259 | 1,881,322 | |||||||||||||||||||||
Beta Bionics, Inc. Series B2 | 3,613,527 | 48,872 | — | — | — | — | (2 | ) | — | 3,613,525 | 665,474 | |||||||||||||||||||||||||||||
Beta Bionics, Inc. Series C | 4,993,786 | 71,900 | — | — | — | — | 1 | — | 4,993,787 | 964,052 | ||||||||||||||||||||||||||||||
Beta Bionics, Inc. Series D | — | — | 6,000,002 | — | — | — | (2,064,286 | ) | — | 3,935,716 | 714,286 | |||||||||||||||||||||||||||||
Beta Bionics, Inc. Series C Warrants | 1,274,958 | 17,975 | — | — | — | — | 1 | — | 1,274,959 | 241,013 | ||||||||||||||||||||||||||||||
Beta Bionics, Inc. Series D Warrants | — | — | — | — | — | — | 2,020,000 | — | 2,020,000 | 500,000 | ||||||||||||||||||||||||||||||
Mirum Pharma-ceuticals, Inc. PIPE | — | — | 6,000,015 | — | — | — | 747,430 | — | 6,747,445 | 228,572 | ||||||||||||||||||||||||||||||
Xometry, Inc. 1 | 62,908,624 | 2,970,190 | 39,912,116 | — | — | — | 88,237,482 | — | 191,058,222 | 5,320,474 | ||||||||||||||||||||||||||||||
Zentalis Pharma-ceuticals, Inc. 1 | 81,161,129 | 2,877,034 | 31,299,055 | — | — | — | (37,071,300 | ) | — | 75,388,884 | 4,976,164 | |||||||||||||||||||||||||||||
Total | $ | 163,998,289 | 6,125,498 | $ | 83,211,188 | $ | — | $ | — | $ | — | $ | 51,869,320 | $ | — | $ | 299,078,797 | 15,491,357 |
1. | Not affiliated June 30, 2023. |
E V E N T I D E | 122 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Healthcare & Life Sciences Fund | ||||||||||||||||||||||||||||||||||||||||
Net Increase/ | ||||||||||||||||||||||||||||||||||||||||
Dividends | Decrease in | Market Value at | Share Balance at | |||||||||||||||||||||||||||||||||||||
Market Value at | Share Balance at | Corporate | Credited to | Appreciation | Realized Gains | December 31, | December 31, | |||||||||||||||||||||||||||||||||
Description | June 30, 2023 | June 30, 2023 | Purchases | Sales Proceeds | Actions | Income | (Depreciation) | (Losses) | 2023 | 2023 | ||||||||||||||||||||||||||||||
Aura Biosciences, Inc. | $ | 36,253,660 | 2,935,519 | $ | 25,888,469 | $ | — | $ | — | $ | — | $ | (10,730,366 | ) | $ | — | $ | 51,411,763 | 5,802,682 | |||||||||||||||||||||
Beta Bionics, Inc. Series B 1 | 5,023,096 | 69,763 | — | — | — | — | 32 | — | 5,023,128 | 940,661 | ||||||||||||||||||||||||||||||
Beta Bionics, Inc. Series B2 1 | 4,394,836 | 59,439 | — | — | — | — | (8 | ) | — | 4,394,828 | 809,361 | |||||||||||||||||||||||||||||
Beta Bionics, Inc. Series C 1 | 2,496,893 | 35,950 | — | — | — | — | 1 | — | 2,496,894 | 482,026 | ||||||||||||||||||||||||||||||
Beta Bionics, Inc. Series D | — | — | 3,999,996 | — | — | — | (1,376,189 | ) | — | 2,623,807 | 476,190 | |||||||||||||||||||||||||||||
Beta Bionics, Inc. Series C Warrant 1 | 637,443 | 8,987 | — | — | — | — | 2 | — | 637,445 | 120,500 | ||||||||||||||||||||||||||||||
Beta Bionics, Inc. Series D | — | — | — | — | — | — | 1,346,666 | — | 1,346,666 | 333,333 | ||||||||||||||||||||||||||||||
Casma Therapeutics, Inc. Series B1 | 2,185,000 | 5,000,000 | — | — | — | — | (690,000 | ) | — | 1,495,000 | 5,000,000 | |||||||||||||||||||||||||||||
Casma Therapeutics, Inc. Series B2 | 2,185,000 | 5,000,000 | — | — | — | — | (690,000 | ) | — | 1,495,000 | 5,000,000 | |||||||||||||||||||||||||||||
Casma Therapeutics, Inc. Series C1 1 | 795,520 | 1,820,413 | — | — | — | — | (251,217 | ) | — | 544,303 | 1,820,413 | |||||||||||||||||||||||||||||
Casma Therapeutics, Inc. Series C2 | 532,709 | 1,219,013 | — | — | — | — | (168,224 | ) | — | 364,485 | 1,219,013 | |||||||||||||||||||||||||||||
Goldfinch Biopharma, Inc.Series A | — | 5,000,000 | — | — | — | — | — | — | — | 5,000,000 | ||||||||||||||||||||||||||||||
Goldfinch Biopharma, Inc. Series B | — | 8,474,576 | — | — | — | — | — | — | — | 8,474,576 | ||||||||||||||||||||||||||||||
Goldfinch Biopharma, Inc. Series B2 | — | 4,237,288 | — | — | — | — | — | — | — | 4,237,288 | ||||||||||||||||||||||||||||||
Inozyme Pharma, Inc. | — | — | 15,102,950 | — | — | — | (1,556,844 | ) | — | 13,546,106 | 3,179,837 | |||||||||||||||||||||||||||||
Korro Bio, Inc. Series B1 2 | 10,118,775 | 3,831,418 | — | — | (10,000,001 | ) | — | (118,774 | ) | — | — | — | ||||||||||||||||||||||||||||
Korro Bio, Inc. Series B2 2 | 9,499,999 | 3,597,122 | — | — | (9,999,999 | ) | — | 500,000 | — | — | — | |||||||||||||||||||||||||||||
Korro Bio, Inc. -Private Investment 2 | — | — | — | — | 29,999,999 | — | (3,814,642 | ) | — | 26,185,357 | 546,325 | |||||||||||||||||||||||||||||
Lexeo Therapeutics Series B 2 | 14,250,300 | 8,718,446 | — | — | (14,999,999 | ) | — | 749,699 | — | — | — | |||||||||||||||||||||||||||||
Lexeo Therapeutics, Inc. 2 | — | — | — | — | 22,499,994 | — | 4,949,999 | — | 27,449,993 | 2,045,454 | ||||||||||||||||||||||||||||||
Lexeo Therapeutics, Inc. - Private Investment 2 | — | — | — | — | 14,999,999 | — | (2,152,000 | ) | — | 12,847,999 | 957,377 | |||||||||||||||||||||||||||||
Marinus Pharma- ceuticals, Inc. | 34,460,919 | 3,173,197 | 10,013,184 | — | — | — | 4,766,964 | — | 49,241,067 | 4,529,997 |
E V E N T I D E | 123 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Healthcare & Life Sciences Fund (Continued) | ||||||||||||||||||||||||||||||||||||||||
Net Increase/ | ||||||||||||||||||||||||||||||||||||||||
Dividends | Decrease in | Market Value at | Share Balance at | |||||||||||||||||||||||||||||||||||||
Market Value at | Share Balance at | Corporate | Credited to | Appreciation | Realized Gains | December 31, | December 31, | |||||||||||||||||||||||||||||||||
Description | June 30, 2023 | June 30, 2023 | Purchases | Sales Proceeds | Actions | Income | (Depreciation) | (Losses) | 2023 | 2023 | ||||||||||||||||||||||||||||||
Mirum Pharma-ceuticals, Inc. PIPE | $ | — | — | $ | 4,000,001 | $ | — | $ | — | $ | — | $ | 498,286 | $ | — | $ | 4,498,287 | 152,381 | ||||||||||||||||||||||
Prometheus Laboratories, Inc. | 667,148 | 1,017,770 | — | — | — | — | 35,113 | — | 702,261 | 1,017,770 | ||||||||||||||||||||||||||||||
Reneo Pharma-ceuticals, Inc. | 11,480,000 | 1,750,000 | 3,422,079 | (3,646,593 | ) | — | — | 2,520,000 | (13,775,486 | ) | — | — | ||||||||||||||||||||||||||||
Zentalis Pharma-ceuticals, Inc. 2 | 112,840,001 | 4,000,000 | 47,498,996 | — | — | — | (60,632,939 | ) | — | 99,706,058 | 6,581,258 | |||||||||||||||||||||||||||||
TOTAL | $ | 247,821,299 | 59,948,901 | $ | 109,925,675 | $ | (3,646,593 | ) | $ | 32,499,993 | $ | — | $ | (66,814,441 | ) | $ | (13,775,486 | ) | $ | 306,010,447 | 58,726,442 | |||||||||||||||||||
Investments no longer affiliated as of December 31, 2023 | ||||||||||||||||||||||||||||||||||||||||
Net Increase/ | ||||||||||||||||||||||||||||||||||||||||
Dividends | Decrease in | Market Value at | Share Balance at | |||||||||||||||||||||||||||||||||||||
Market Value at | Share Balance at | Corporate | Credited to | Appreciation | Realized Gains | December 31, | December 31, | |||||||||||||||||||||||||||||||||
Description | June 30, 2023 | June 30, 2023 | Purchases | Sales Proceeds | Actions | Income | (Depreciation) | (Losses) | 2023 | 2023 | ||||||||||||||||||||||||||||||
Mirum Pharma-ceuticals, Inc. | $ | 53,271,530 | 2,059,201 | $ | 12,130,680 | $ | (43,165,596 | ) | $ | — | $ | — | $ | (1,102,507 | ) | $ | 11,288,240 | $ | 32,422,347 | 1,098,318 | ||||||||||||||||||||
Total | $ | 53,271,530 | 2,059,201 | $ | 12,130,680 | $ | (43,165,596 | ) | $ | — | $ | — | $ | (1,102,507 | ) | $ | 11,288,240 | $ | 32,422,347 | 1,098,318 | ||||||||||||||||||||
$ | 301,092,829 | 62,008,102 | $ | 122,056,355 | $ | (46,812,189 | ) | $ | 32,499,993 | $ | — | $ | (67,916,948 | ) | $ | (2,487,246 | ) | $ | 338,432,794 | 59,824,760 |
1. | Not affiliated June 30, 2023. |
2. | Conversion |
6. INVESTMENT IN RESTRICTED SECURITIES
Restricted securities include securities that have not been registered under the Securities Act of 1933, as amended, and securities that are subject to restrictions on resale. Each Fund may invest in restricted securities that are consistent with the Fund’s investment objectives and investment strategies. A Fund will not invest in a restricted security if, immediately after and as a result of the investment in such security, more than 15% of the Fund’s net assets would be invested in illiquid securities. In some cases, the issuer of restricted securities has agreed to register such securities for resale, at the issuer’s expense either upon demand by the Funds or in connection with another registered offering of the securities. Investments in restricted securities are valued at fair value as determined in good faith in accordance with procedures adopted by the Board. It is possible that the estimated value may differ significantly from the amount that might ultimately be realized in the near term, and the difference could be material.
As of December 31, 2023, the Eventide Balanced Fund, Eventide Dividend Opportunities Fund, Eventide Exponential Technologies Fund, Eventide Gilead Fund and Eventide Healthcare & Life Sciences Fund were invested in the following restricted securities:
Eventide Balanced Fund | ||||||||||||||||||
Security | Initial Acquisition Date | Shares | Cost | Value | % of Net Assets | |||||||||||||
Vision Fund International, 3.7250%, 2/24/25 | 2/25/22 | 3,800,000 | $ | 3,800,000 | $ | 3,800,000 | 1.1 | % | ||||||||||
Eventide Dividend Opportunities Fund | ||||||||||||||||||
Security | Initial Acquisition Date | Shares | Cost | Value | % of Net Assets | |||||||||||||
Vision Fund International, 5.2600%, 11/30/25 | 12/1/23 | 3,250,000 | $ | 3,250,000 | $ | 3,250,000 | 0.5 | % |
E V E N T I D E | 124 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
Eventide Exponential Technologies Fund | ||||||||||||||||||
Security | Initial Acquisition Date | Shares | Cost | Value | % of Net Assets | |||||||||||||
Vision Fund International, 5.2600%, 11/30/25 | 12/1/23 | 750,000 | $ | 750,000 | $ | 750,000 | 0.6 | % | ||||||||||
Eventide Gilead Fund | ||||||||||||||||||
Security | Initial Acquisition Date | Shares | Cost | Value | % of Net Assets | |||||||||||||
Beta Bionics, Inc. Series B | 8/31/18 | 1,881,322 | $ | 20,000,031 | $ | 10,046,259 | 0.3 | % | ||||||||||
Beta Bionics, Inc. Series B2 | 6/27/19 | 665,474 | 7,400,000 | 3,613,525 | 0.1 | % | ||||||||||||
Beta Bionics, Inc. Series C | 2/16/22 | 964,052 | 9,999,867 | 4,993,787 | 0.1 | % | ||||||||||||
Beta Bionics, Inc. Series D | 8/29/23 | 714,286 | 6,000,002 | 3,935,716 | 0.1 | % | ||||||||||||
Beta Bionics, Inc. Series C Warrant | 2/16/22 | 241,013 | — | 1,274,959 | 0.0 | % | ||||||||||||
Beta Bionics, Inc. Series D Warrant | 8/29/23 | 500,000 | — | 2,020,000 | 0.1 | % | ||||||||||||
Hope Global International, 4.0000%, 01/07/28 | 12/28/2023 | 2,000,000 | — | 2,000,000 | 0.1 | % | ||||||||||||
Mirum Pharmaceuticals, Inc. PIPE | 7/18/23 | 228,572 | 6,000,015 | 6,747,445 | 0.2 | % | ||||||||||||
Peloton Therapeutics, Inc. - CVR | 2/14/19 | 3,982,940 | — | 3,365,186 | 0.1 | % | ||||||||||||
Vision Fund International, 3.1500%, 12/15/25 | 12/16/21 | 5,000,000 | 5,000,000 | 5,000,000 | 0.1 | % | ||||||||||||
Vision Fund International, 3.2230%, 12/15/26 | 12/16/21 | 5,000,000 | 5,000,000 | 5,000,000 | 0.1 | % | ||||||||||||
Vision Fund International, 4.7400%, 05/16/25 | 5/18/22 | 5,000,000 | 5,000,000 | 5,000,000 | 0.1 | % | ||||||||||||
Vision Fund International, 5.9030%, 09/19/25 | 9/21/22 | 5,000,000 | 5,000,000 | 5,000,000 | 0.1 | % | ||||||||||||
Vision Fund International, 5.2600%, 11/30/25 | 12/1/23 | 9,000,000 | 9,000,000 | 9,000,000 | 0.2 | % | ||||||||||||
Eventide Healthcare & Life Sciences Fund | ||||||||||||||||||
Security | Initial Acquisition Date | Shares | Cost | Value | % of Net Assets | |||||||||||||
Arch Oncology, Inc. Series C1 | 4/26/21 | 4,643,043 | $ | 5,952,381 | $ | 128,798 | 0.0 | % | ||||||||||
Avalyn Pharma Inc. Series C1 | 9/25/23 | 20,482,289 | 15,000,000 | 15,000,000 | 0.9 | % | ||||||||||||
Beta Bionics, Inc. Series B | 8/31/18 | 940,661 | 10,000,016 | 5,023,128 | 0.3 | % | ||||||||||||
Beta Bionics, Inc. Series B2 | 6/27/19 | 809,361 | 9,000,000 | 4,394,828 | 0.3 | % | ||||||||||||
Beta Bionics, Inc. Series C | 2/16/22 | 482,026 | 4,999,933 | 2,496,894 | 0.1 | % | ||||||||||||
Beta Bionics, Inc. Series D | 8/29/23 | 476,190 | 3,999,996 | 2,623,807 | 0.2 | % | ||||||||||||
Beta Bionics, Inc. Series C Warrant | 2/16/22 | 120,500 | — | 637,445 | 0.0 | % | ||||||||||||
Beta Bionics, Inc. Series D Warrant | 8/29/23 | 333,333 | — | 1,346,666 | 0.1 | % | ||||||||||||
BioSplice Therapeutics, Inc. Series B-1 | 3/5/21 | 295,276 | 15,000,021 | 1,470,474 | 0.1 | % | ||||||||||||
BioSplice Therapeutics, Inc. Series C PIK, 10.5000%, 03/12/25 | 5/2/23 | 2,500,000 | 2,500,000 | 2,818,000 | 0.2 | % | ||||||||||||
BioSplice Therapeutics, Inc. Series C Warrant | 5/2/23 | 72,880 | — | 71,422 | 0.0 | % | ||||||||||||
Bridgebio Pharma, Inc. PIPE | 9/28/23 | 137,513 | 3,749,979 | 5,551,400 | 0.3 | % | ||||||||||||
Casma Therapeutics, Inc. Series B1 | 8/26/20 | 5,000,000 | 3,750,000 | 1,495,000 | 0.1 | % | ||||||||||||
Casma Therapeutics, Inc. Series B2 | 6/7/21 | 5,000,000 | 3,750,000 | 1,495,000 | 0.1 | % | ||||||||||||
Casma Therapeutics, Inc. Series C1 | 7/6/22 | 1,820,413 | 837,390 | 544,303 | 0.0 | % | ||||||||||||
Casma Therapeutics, Inc. Series C2 | 1/31/23 | 1,219,013 | 560,746 | 364,485 | 0.0 | % | ||||||||||||
Flare Therapeutics, Inc. Series A | 4/22/21 | 1,097,561 | 1,097,561 | 1,320,366 | 0.1 | % | ||||||||||||
Flare Therapeutics, Inc. Series A2 | 5/31/22 | 902,439 | 902,439 | 1,085,634 | 0.1 | % | ||||||||||||
Flare Therapeutics, Inc. Series B | 2/1/23 | 1,952,962 | 2,349,999 | 2,349,413 | 0.1 | % | ||||||||||||
Freenome Holdings, Inc. Series D | 11/22/21 | 928,098 | 6,999,994 | 6,999,994 | 0.4 | % | ||||||||||||
Goldfinch Biopharma, Inc. Series A | 3/15/19 | 5,000,000 | $ | 5,000,000 | $ | — | 0.0 | % | ||||||||||
Goldfinch Biopharma, Inc. Series B | 6/29/20 | 8,474,576 | 10,000,000 | — | 0.0 | % | ||||||||||||
Goldfinch Biopharma, Inc. Series B2 | 3/21/22 | 4,237,288 | 5,000,000 | — | 0.0 | % | ||||||||||||
Kojin Therapeutics, Inc. Series A-1 | 6/2/21 | 763,319 | 1,499,998 | 467,228 | 0.0 | % | ||||||||||||
Kojin Therapeutics, Inc. Series A-2 | 1/28/22 | 763,319 | 1,499,998 | 467,228 | 0.0 | % | ||||||||||||
Korro Bio, Inc. | 11/27/23 | 546,325 | 29,999,999 | 26,185,357 | 1.6 | % | ||||||||||||
Lexeo Therapeutics, Inc. | 11/27/23 | 957,377 | 14,999,999 | 12,847,999 | 0.8 | % | ||||||||||||
Metagenomi Technologies, LLC Series B | 1/21/22 | 686,724 | 7,999,998 | 9,660,833 | 0.6 | % | ||||||||||||
Metagenomi Technologies, LLC Series B-1 | 12/20/22 | 98,875 | 1,390,944 | 1,390,974 | 0.1 | % | ||||||||||||
Mirum Pharmaceuticals, Inc. PIPE | 7/18/23 | 152,381 | 4,000,001 | 4,498,287 | 0.3 | % | ||||||||||||
Peloton Therapeutics, Inc. - CVR | 2/14/19 | 1,528,871 | — | 1,291,743 | 0.1 | % | ||||||||||||
Prometheus Laboratories, Inc. | 12/31/20 | 1,017,770 | 702,262 | 702,261 | 0.0 | % | ||||||||||||
Shoreline Biosciences Series B | 10/28/21 | 1,489,958 | 15,000,003 | 10,295,610 | 0.6 | % | ||||||||||||
Turnstone Biologics Inc. Series D | 6/29/21 | 458,317 | 9,999,999 | 1,166,417 | 0.1 | % |
E V E N T I D E | 125 | |
S E M I - A N N U A L R E P O R T | D e c e m b e r 3 1 , 2 0 2 3 |
7. SECTOR EXPOSURE RISK
The Eventide Exponential Technologies Fund invests primarily in equity and equity-related securities of companies that the Adviser believes are participating in and benefitting from technologies, innovations, technology themes, or technology trends. The types of companies represented in the Fund’s portfolio include, but are not limited to, companies falling within the information technology, e-commerce discretionary, internet media and services, healthcare technology, healthcare devices, or transaction and payment processing services industries. Because of its focus on technology companies, the Eventide Exponential Technologies Fund’s investment performance will be closely tied to many factors which affect those companies. As a result, the Eventide Exponential Technologies Fund’s net asset value is more likely to have greater fluctuations than that of a fund which invests in other industries.
The Eventide Healthcare & Life Sciences Fund invests primarily in equity and equity-related securities of companies in the healthcare and life sciences sectors that derive or are expected to derive 50% or more of their revenue from healthcare and life science products and services including, but not limited to, biotechnology, pharmaceuticals, diagnostics, life science tools, medical devices, healthcare information technology, healthcare services, synthetic biology, agricultural and environmental management, and pharmaceutical manufacturing products and services. Because of its focus on healthcare and life science companies, the Eventide Healthcare & Life Sciences Fund’s investment performance will be closely tied to many factors which affect those companies. As a result, the Eventide Healthcare & Life Sciences Fund’s net asset value is more likely to have greater fluctuations than that of a fund which invests in other industries.
8. OPTIONS RISK
There are risks associated with the sale and purchase of call and put options. The seller (writer) of a call option which is covered (e.g., the writer holds the underlying security) assumes the risk of a decline in the market price of an underlying security below the purchase price of an underlying security less the premium received, and gives up the opportunity for gain on the underlying security above the exercise price of the option. The seller of an uncovered call option assumes the risk of a theoretical unlimited increase in the market price of an underlying security above the exercise price of the option. The securities necessary to satisfy the exercise of the call option may be unavailable for purchase except at much higher prices. Purchasing securities to satisfy the exercise of the call option can itself cause the price of securities to rise further, sometimes by a significant amount, thereby exacerbating the loss. The buyer of a call option assumes the risk of losing its entire premium invested in the call option. The seller (writer) of a put option which is covered (e.g., the writer has a short position in the underlying security) assumes the risk of an increase in the market price of the underlying security above the sales price (in establishing the short position) of the underlying security plus the premium received, and gives up the opportunity for gain on the underlying security below the exercise price of the option. The seller of an uncovered put option assumes the risk of a decline in the market price of the underlying security below the exercise price of the option. The buyer of a put option assumes the risk of losing his entire premium invested in the put option.
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9. MARKET RISK
Overall market risks may also affect the value of the Funds. The market values of securities or other investments owned by the Funds will go up or down, sometimes rapidly or unpredictably. Factors such as economic growth and market conditions, interest rate levels, exchange rates and political events affect the securities markets. Changes in market conditions and interest rates generally do not have the same impact on all types of securities and instruments. Unexpected local, regional or global events and their aftermath, such as war; acts of terrorism; financial, political or social disruptions; natural, environmental or man-made disasters; climate-change and climate-related events; the spread of infectious illnesses or other public health issues; recessions and depressions; or other tragedies, catastrophes and events could have a significant impact on the Funds and their investments and could result in increased premiums or discounts to a Fund’s net asset value, and may impair market liquidity, thereby increasing liquidity risk. Such events can cause investor fear and panic, which can adversely affect the economies of many companies, sectors, nations, regions and the market in general, in ways that cannot necessarily be foreseen. The Funds could lose money over short periods due to short-term market movements and over longer periods during more prolonged market downturns. During a general market downturn, multiple asset classes may be negatively affected. In times of severe market disruptions you could lose your entire investment.
10. LINE OF CREDIT
Effective January 25, 2023, the Eventide Funds have a $150,000,000 uncommitted line of credit provided by U.S. Bank National Association (the “Bank”) under an agreement (the “Uncommitted Line”), that is set to expire on January 24, 2024. Borrowings under the Uncommitted Line bear an interest at Prime Rate minus 0% per month. Any advance under the Uncommitted Line is contemplated primarily for temporary or emergency purposes, including the meeting of redemption requests that otherwise might require the untimely disposition of securities. Interest on borrowings is payable on an annualized basis. The Uncommitted Line is not a “committed” line of credit, which is to say that the Bank is not obligated to lend money to the Funds. Accordingly, it is possible that Funds may wish to borrow money for a temporary or emergency purpose but may not be able to do so. During the six months ended December 31, 2023, none of the Eventide Funds accessed the line of credit.
11. BENEFICIAL OWNERSHIP
The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates a presumption of control of the fund, under Section 2(a)9 of the 1940 Act. As of December 31, 2023, Charles Schwab & Co, Inc. Special Custody Account for the Exclusive Benefit of Customers held 37.80%, 28.64%, 37.92%, 47.57% and 33.52% of the Eventide Core Bond Fund, Eventide Dividend Opportunities Fund, Eventide Exponential Technologies Fund, Eventide Large Cap Focus Fund and Eventide Limited-Term Bond Fund, respectively. As of December 31, 2023, National Financial Services LLC held 26.34%, 44.57% and 32.80% of the Eventide Balanced Fund, Eventide Core Bond Fund and Eventide Large Cap Focus Fund, respectively.
12. RECENT REGULATORY UPDATES
On January 24, 2023, the SEC adopted rule and form amendments to require mutual funds and ETFs to transmit concise and visually engaging streamlined annual and semiannual reports to shareholders that highlight key information. Other information, including financial statements, will not appear in a streamlined shareholder report but must be available online, delivered free of charge upon request, and filed on a semiannual basis on Form N-CSR. The rule and form amendments have a compliance date of July 24, 2024. At this time, management is evaluating the impact of these amendments on the shareholder reports for the Funds.
13. SUBSEQUENT EVENTS
Subsequent events after the date of the Statements of Assets and Liabilities have been evaluated through the date the financial statements were issued. Management has determined that no events or transactions occurred requiring adjustment or disclosure in the financial statements.
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Eventide Funds | |
Expense Examples (Unaudited) | December 31, 2023 |
As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchases of Class A shares; and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees, and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in a Fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The example for each Fund is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from July 1, 2023 through December 31, 2023.
Actual Expenses
The “Actual” columns in the table below provide information about actual account values and actual expenses. You may use the information below, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.
Hypothetical Example for Comparison Purposes
The “Hypothetical” columns in the table below provide information about hypothetical account values and hypothetical expenses based on the actual expense ratio of each Fund and an assumed rate of return of 5% per year before expenses, which is not the Funds’ actual returns. The hypothetical account values and expenses may not be used to estimate the actual ending account balances or expenses you paid for the period. You may use this information to compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), or redemption fees. Therefore, the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
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Hypothetical | ||||||||||||
Actual | (5% return before expenses) | |||||||||||
Funds’ | Beginning | Ending | Expenses | Ending | Expenses | |||||||
Annualized | Account Value | Account Value | Paid During | Account Value | Paid During | |||||||
Fund | Expense Ratio | 7/1/23 | 12/31/23 | Period 1 | 12/31/23 | Period | ||||||
Eventide Balanced Fund – Class N | 1.02% | $1,000.00 | $1,066.50 | $5.30 | $1,020.01 | $5.18 | ||||||
Eventide Balanced Fund – Class A | 1.07% | 1,000.00 | 1,066.90 | 5.56 | 1,019.76 | 5.43 | ||||||
Eventide Balanced Fund – Class C | 1.82% | 1,000.00 | 1,062.10 | 9.43 | 1,015.99 | 9.22 | ||||||
Eventide Balanced Fund – Class I | 0.82% | 1,000.00 | 1,067.60 | 4.26 | 1,021.01 | 4.17 | ||||||
Eventide Core Bond Fund - Class N | 0.78% | 1,000.00 | 1,030.00 | 3.98 | 1,021.22 | 3.96 | ||||||
Eventide Core Bond Fund – Class A | 0.83% | 1,000.00 | 1,030.70 | 4.24 | 1,020.96 | 4.22 | ||||||
Eventide Core Bond Fund – Class C | 1.58% | 1,000.00 | 1,026.10 | 8.05 | 1,017.19 | 8.01 | ||||||
Eventide Core Bond Fund – Class I | 0.58% | 1,000.00 | 1,031.00 | 2.96 | 1,022.22 | 2.95 | ||||||
Eventide Dividend Opportunities Fund - Class N | 1.15% | 1,000.00 | 1,102.40 | 6.08 | 1,019.36 | 5.84 | ||||||
Eventide Dividend Opportunities Fund – Class A | 1.20% | 1,000.00 | 1,102.20 | 6.34 | 1,019.10 | 6.09 | ||||||
Eventide Dividend Opportunities Fund – Class C | 1.95% | 1,000.00 | 1,098.30 | 10.29 | 1,015.33 | 9.88 | ||||||
Eventide Dividend Opportunities Fund – Class I | 0.95% | 1,000.00 | 1,103.50 | 5.02 | 1,020.36 | 4.82 | ||||||
Eventide Exponential Technologies Fund - Class N | 1.63% | 1,000.00 | 1,082.50 | 8.53 | 1,016.94 | 8.26 | ||||||
Eventide Exponential Technologies Fund – Class A | 1.68% | 1,000.00 | 1,082.50 | 8.79 | 1,016.69 | 8.52 | ||||||
Eventide Exponential Technologies Fund – Class C | 2.43% | 1,000.00 | 1,078.40 | 12.70 | 1,012.92 | 12.30 | ||||||
Eventide Exponential Technologies Fund – Class I | 1.43% | 1,000.00 | 1,083.60 | 7.49 | 1,017.95 | 7.25 | ||||||
Eventide Gilead Fund – Class N | 1.36% | 1,000.00 | 1,043.10 | 7.00 | 1,018.29 | 6.91 | ||||||
Eventide Gilead Fund – Class A | 1.41% | 1,000.00 | 1,042.80 | 7.25 | 1,018.04 | 7.17 | ||||||
Eventide Gilead Fund – Class C | 2.16% | 1,000.00 | 1,039.00 | 11.09 | 1,014.26 | 10.95 | ||||||
Eventide Gilead Fund – Class I | 1.16% | 1,000.00 | 1,044.20 | 5.97 | 1,019.29 | 5.90 | ||||||
Eventide Healthcare & Life Sciences Fund – Class N | 1.52% | 1,000.00 | 980.80 | 7.55 | 1,017.51 | 7.69 | ||||||
Eventide Healthcare & Life Sciences Fund – Class A | 1.57% | 1,000.00 | 980.90 | 7.81 | 1,017.26 | 7.95 | ||||||
Eventide Healthcare & Life Sciences Fund – Class C | 2.32% | 1,000.00 | 977.10 | 11.52 | 1,013.48 | 11.73 | ||||||
Eventide Healthcare & Life Sciences Fund – Class I | 1.32% | 1,000.00 | 981.70 | 6.56 | 1,018.51 | 6.68 | ||||||
Eventide Large Cap Focus Fund – Class N | 1.14% | 1,000.00 | 1,084.80 | 5.97 | 1,019.41 | 5.79 | ||||||
Eventide Large Cap Focus Fund – Class A | 1.19% | 1,000.00 | 1,084.90 | 6.24 | 1,019.15 | 6.04 | ||||||
Eventide Large Cap Focus Fund – Class C | 1.94% | 1,000.00 | 1,080.10 | 10.16 | 1,015.37 | 9.84 | ||||||
Eventide Large Cap Focus Fund – Class I | 0.94% | 1,000.00 | 1,086.50 | 4.93 | 1,020.41 | 4.77 | ||||||
Eventide Limited-Term Bond Fund – Class N | 0.75% | 1,000.00 | 1,037.70 | 3.84 | 1,021.37 | 3.81 | ||||||
Eventide Limited-Term Bond Fund – Class A | 0.80% | 1,000.00 | 1,038.30 | 4.10 | 1,021.11 | 4.06 | ||||||
Eventide Limited-Term Bond Fund – Class C | 1.55% | 1,000.00 | 1,033.60 | 7.92 | 1,017.34 | 7.86 | ||||||
Eventide Limited-Term Bond Fund – Class I | 0.55% | 1,000.00 | 1,038.70 | 2.82 | 1,022.37 | 2.80 |
1. | Expenses are equal to the average account value over the period, multiplied by the Funds’ annualized expense ratio, multiplied by the number of days in the period (184) divided by the number of days in the fiscal year (366). |
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Eventide Funds | |
Additional Information (Unaudited) | December 31, 2023 |
Reference is made to the Prospectus and the Statement of Additional Information for more detailed descriptions of the Advisory Agreement, Services Agreement and Distribution and/or Service (12b-1) Plan, tax aspects of each Fund and the calculation of the net asset value of shares of each Fund.
The Funds file a complete schedule of portfolio holdings with the Securities and Exchange Commission (the “SEC”) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT, within sixty days after the end of the period. Form N-PORT reports are available at the SEC’s website at http://www.sec.gov. The information on Form N-PORT is available without charge, upon request, by calling 1-877-771-3836.
Information regarding how each Fund voted proxies relating to portfolio securities during the twelve month period ended June 30 as well as a description of the policies and procedures that each Fund uses to determine how to vote proxies relating to portfolio securities is available without charge, upon request, by calling 1-877-771-3836; and on the SEC’s website at http://www.sec.gov.
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Privacy Notice | |
Mutual Fund Series Trust Revised Aug. 2021 | 1 of 2 |
FACTS | WHAT DOES MUTUAL FUND SERIES TRUST DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some, but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depends on the product or service that you have with us. This information can include:
■ Social Security number and wire transfer instructions
■ account transactions and transaction history
■ investment experience and purchase history
When you are no longer our customer, we continue to share your information as described in this notice. |
How? | All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Mutual Fund Series Trust chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information: | Does Mutual Fund Series Trust share information? | Can you limit this sharing? |
For our everyday business purposes - such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus. | YES | NO |
For our marketing purposes - to offer our products and services to you. | NO | We don’t share |
For joint marketing with other financial companies. | NO | We don’t share |
For our affiliates’ everyday business purposes - information about your transactions and records. | NO | We don’t share |
For our affiliates’ everyday business purposes - information about your credit worthiness. | NO | We don’t share |
For our affiliates to market to you. | NO | We don’t share |
For non-affiliates to market to you. | NO | We don’t share |
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Privacy Notice | |
Mutual Fund Series Trust Revised August 2021 | 2 of 2 |
What we do: | |
How does Mutual Fund Series Trust protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.
Our service providers are held accountable for adhering to strict policies and procedures to prevent any misuse of your nonpublic personal information. |
How does Mutual Fund Series Trust collect my personal information? | We collect your personal information, for example, when you: ■ open an account or deposit money
■ direct us to buy securities or direct us to sell your securities
■ seek advice about your investments
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. |
Why can’t I limit all sharing? | Federal law gives you the right to limit only: ■ sharing for affiliates’ everyday business purposes – information about your creditworthiness.
■ affiliates from using your information to market to you.
■ sharing for non-affiliates to market to you.
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates | Companies related by common ownership or control. They can be financial and non-financial companies.
■ Mutual Fund Series Trust does not share with affiliates. |
Non-affiliates | Companies not related by common ownership or control. They can be financial and non-financial companies.
■ Mutual Fund Series Trust doesn’t share with nonaffiliates so they can market to you. |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
■ Mutual Fund Series Trust doesn’t jointly market. |
QUESTIONS? | Call 1-877-771-3836 |
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MUTUAL FUND SERIES TRUST |
4221 North 203rd Street, Suite 100 |
Elkhorn, NE 68022 |
ADVISOR |
Eventide Asset Management, LLC |
One International Place |
Suite 4210 |
Boston, MA 02110 |
ADMINISTRATOR |
Ultimus Fund Solutions, LLC |
225 Pictoria Drive, Suite 450 |
Cincinnati, OH 45246 |
TRANSFER AGENT |
Ultimus Fund Solutions, LLC |
225 Pictoria Drive, Suite 450 |
Cincinnati, OH 45246 |
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM |
Cohen & Company, Ltd. |
1835 Market Street |
Suite 310 |
Philadelphia, PA 19103 |
LEGAL COUNSEL |
Thompson Hine LLP |
41 South High Street |
Suite 1700 |
Columbus, OH 43215 |
CUSTODIAN BANK |
U.S. Bank |
1555 N. Rivercenter Drive. |
Suite 302 |
Milwaukee, WI 53212 |
ETF-SAR23 |
E V E N T I D E | 133 | |
(b) Not applicable
Item 2. Code of Ethics.
Not applicable for semi-annual reports.
Item 3. Audit Committee Financial Expert.
Not applicable for semi-annual reports.
Item 4. Principal Accountant Fees and Services.
Not applicable for semi-annual reports.
Item 5. Audit Committee of Listed Companies. Not applicable to open-end investment companies.
Item 6. Schedule of Investments. See Item 1.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Funds. Not applicable to open-end investment companies.
Item 8. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. Not applicable to open-end investment companies.
Item 9. Submission of Matters to a Vote of Security Holder. None.
Item 10. Submission of Matters to a Vote of Security Holder. None.
Item 11. Controls and Procedures.
(a) | The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the 1940 Act, are effective, as of a date within 90 days of the filing date of this report, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended. |
(b) | There were no significant changes in the Registrant’s internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities For Closed-End Management Investment Companies. Not applicable to open-end investment companies.
Item 13. Exhibits
Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are filed herewith.
Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 are filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Mutual Fund Series Trust
By Michael Schoonover | /s/ Michael Schoonover |
President, | |
Date: 3/5/2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following person on behalf of the registrant and in the capacities and on the date indicated.
By Michael Schoonover | /s/ Michael Schoonover |
President | |
Date: 3/5/2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following person on behalf of the registrant and in the capacities and on the date indicated.
By Erik Naviloff | /s/ Erik Naviloff |
Treasurer | |
Date: 3/5/2024 |