Schedule of Investments | |||||||
August 31, 2022 (unaudited) | |||||||
Towpath Focus Fund | |||||||
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| Shares or Principal |
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Security Description |
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| Amount ($) |
| Fair Value ($)(1) | ||
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Common Stocks - 88.57% | |||||||
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Apparel & Other Finished Products of Fabrics & Similar Material - 1.74% |
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Carter's, Inc. |
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| 5,900 |
| 435,715 |
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Biological Products (No Diagnostic Substances) - 4.30% |
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Amgen, Inc. |
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| 2,620 |
| 629,586 |
Gilead Sciences, Inc. |
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| 6,900 |
| 437,943 | |
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| 1,067,529 |
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BioTech & Pharma - 0.30% |
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Sanofi SA ADR |
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| 1,800 |
| 73,854 | |
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Computer & Office Equipment - 2.19% |
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HP, Inc. |
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| 18,920 |
| 543,193 |
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Crude Petroleum & Natural Gas - 3.88% |
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Shell PLC ADR |
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| 18,200 |
| 964,236 | |
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Fire, Marine & Casualty Insurance - 2.43% |
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Allstate Corp. |
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| 5,005 |
| 603,103 | |
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Footwear (No Rubber) - 1.49% |
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Steven Madden Ltd. |
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| 12,700 |
| 369,697 | |
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Gold & Silver Ores - 0.22% |
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Newmont Corp. |
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| 1,300 |
| 53,768 | |
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Leather & Leather Products- 2.11% |
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Tapestry, Inc. |
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| 15,100 |
| 524,423 | |
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Men's & Boys' Furnishings, Work Clothing, & Allied Garments - 1.02% |
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Kontoor Brands, Inc. |
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| 6,800 |
| 253,164 | |
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Metal Mining - 1.27% |
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Rio Tinto Group PLC ADR |
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| 5,600 |
| 315,224 | ||
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Miscellaneous Electrical Machinery, Equipment & Supplies - 1.01% |
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Energizer Holdings, Inc. |
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| 8,910 |
| 250,371 | |
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Miscellaneous Manufacturing Industries - 2.18% |
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Hillenbrand, Inc. |
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| 13,000 |
| 541,710 | |
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Motor Vehicle Parts & Accessories - 4.42% |
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Gentex Corp. |
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| 23,820 |
| 650,048 |
Magna International, Inc. Class A |
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| 7,770 |
| 448,562 | ||
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| 1,098,610 |
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National Commercial Banks - 4.97% |
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Bank of America Corp. |
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| 20,370 |
| 684,636 | |
Capital One Financial Corp. |
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| 3,160 |
| 334,391 | ||
Regions Financial Corp. |
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| 9,950 |
| 215,616 | |
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| 1,234,643 |
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Perfumes, Cosmetics & Other Toilet Preparations - 0.54% |
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Haleon PLC ADR (2) |
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| 22,580 |
| 135,028 | |
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Petroleum Refining - 3.65% |
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Valero Energy Corp. |
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| 7,730 |
| 905,338 | |
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Pharmaceutical Preparations - 11.13% |
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Bristol Myers Squibb Co. |
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| 9,540 |
| 643,091 | |
GlaxoSmithKline PLC ADR |
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| 19,264 |
| 625,695 | ||
Novartis AG ADR |
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| 8,300 |
| 668,316 | |
Prestige Consumer Healthcare, Inc. (2) |
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| 16,366 |
| 827,792 | ||
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| 2,764,894 |
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Retail-Catalog & Mail-Order Houses - 0.63% |
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Amazon.com, Inc. (2) |
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| 1,240 |
| 157,195 | |
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Retail-Furniture Stores - 0.40% |
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Haverty Furniture Companies, Inc. |
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| 3,700 |
| 99,234 | ||
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Retail-Family Clothing Store - 1.74% |
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Ross Stores, Inc. |
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| 5,000 |
| 431,350 | |
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Retail-Shoe Stores - 1.28% |
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Genesco, Inc. |
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| 5,600 |
| 316,848 | |
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Security Brokers, Dealers & Flotation Companies - 1.28% |
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The Charles Schwab Corp. |
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| 14,340 |
| 1,017,423 | ||
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Services-Business Services - 1.18% |
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eBay, Inc. |
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| 6,640 |
| 293,023 |
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Services-Computer Programming, Data Processing, Etc. - 6.45% |
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Alphabet, Inc. Class A (2) |
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| 14,800 |
| 1,601,656 | ||
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Services-Help Supply Services - 0.99% |
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Barrett Business Services, Inc. |
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| 3,053 |
| 246,194 | ||
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Services-Medical Laboratories - 2.62% |
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Quest Diagnostics, Inc. |
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| 5,200 |
| 651,612 | |
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Services- Prepackaged Software - 1.89% |
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Check Point Software Technologies Ltd. (Israel) (2) |
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| 3,900 |
| 468,936 | ||
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Ship & Boat Building & Repairing - 1.67% |
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Huntington Ingalls Industries, Inc. |
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| 1,800 |
| 414,468 | ||
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State Commercial Banks - 7.09% |
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Atlantic Union Bankshares Corp. |
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| 20,659 |
| 670,385 | ||
Bank of New York Mellon Corp. |
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| 26,230 |
| 1,089,332 | ||
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| 1,759,717 |
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Transportation Services - 1.84% |
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Booking Holdings, Inc. (2) |
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| 244 |
| 457,698 | ||
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Wholesale-Drugs Proprietaries & Druggists' Sundries - 7.84% |
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AmerisourceBergen Corp. |
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| 5,890 |
| 863,238 | ||
McKesson Corp. |
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| 2,950 |
| 1,082,650 | |
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| 1,945,888 |
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Total Common Stock |
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| (Cost $ 19,301,877) |
| 21,995,742 | |
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Money Market Fund - 11.45% | |||||||
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First American Government Obligations Fund Class X, 2.04% |
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| 2,843,881 |
| 2,843,881 | ||
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Total Money Market Fund |
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| (Cost $ 2,843,881) |
| 2,843,881 | ||
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Total Investments - 100.02% |
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| (Cost $ 22,145,758) |
| 24,839,623 | ||
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Liabilities In Excess of Other Assets - (0.02%) |
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| (4,334) | ||
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Total Net Assets - 100.00% |
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| 24,835,289 | ||
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(1) Statement on Financial Accounting Standard No. 157 "Fair Value Measurements" - Various inputs are used in determining the value of the Fund's investments. | |||||||
These inputs are summarized in the three broad levels listed below. | |||||||
• Level 1 - quoted prices in active markets for identical securities | |||||||
• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) | |||||||
• Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) | |||||||
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The following is a summary of the inputs used as of August 31, 2022 in valuing the Fund's assets carried at fair value: | |||||||
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| Investments in |
| Other Financial |
Valuation Inputs |
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| Securities |
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Level 1 - Quoted Prices |
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| $ | 24,839,623 | $ | - | |
Level 2 - Other Significant Observable Inputs |
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Level 3 - Significant Unobservable Inputs |
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Total |
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| $ | 24,839,623 | $ | - |
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The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term | |||||||
debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment | |||||||
Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active | |||||||
market, such securities are reflected as Level 2. | |||||||
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(2) Represents non-income producing securities. | |||||||
(3) Variable Rate Security: the Yield Rate shown represents the rate at August 31, 2022. |
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NPORT-P Filing
MSS Series Trust NPORT-PTowpath Focus Fund (Aug 2022 report)
Filed: 28 Oct 22, 11:17am