Schedule of Investments | |||||||
August 31, 2022 (unaudited) | |||||||
Towpath Technology 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 - 92.09% | |||||||
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Biological products (No Diagnostic Substances) - 2.54% |
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Biogen, Inc. (2) |
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| 440 |
| 85,967 | |
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Computer & Office Equipment - 3.88% |
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HP, Inc. |
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| 2,800 |
| 80,388 |
International Business Machines Corp. |
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| 400 |
| 51,380 | ||
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| 131,768 |
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Computer Storage Devices - 3.23% |
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NetApp, Inc. |
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| 1,520 |
| 109,638 |
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Components & Accessories - 1.33% |
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Vishay Intertechnology, Inc. |
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| 2,300 |
| 45,241 | ||
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Electrical Industrial Apparatus - 0.76% |
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GrafTech International Ltd. |
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| 4,400 |
| 25,872 | ||
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Electronic Computers - 3.47% |
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Apple, Inc. |
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| 750 |
| 117,915 |
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Optical Instruments & Lenses - 2.64% |
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KLA Corp. |
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| 260 |
| 89,474 |
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Printed Circuit Boards - 2.97% |
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TTM Technologies, Inc. (2) |
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| 6,410 |
| 100,829 | ||
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Retail-Catalog & Mail-Order Houses - 1.19% |
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Amazon.com, Inc. (2) |
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| 320 |
| 40,566 | |
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Semiconductors & Related Devices - 4.36% |
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MagnaChip Semiconductor Corp. (Luxembourg) (2) |
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| 4,600 |
| 53,820 | ||
Photronics, Inc. (2) |
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| 5,610 |
| 94,248 | |
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| 148,068 |
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Services-Business Services - 1.30% |
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Accenture PLC Class A (Ireland) |
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| 320 |
| 92,307 | ||
eBay, Inc. |
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| 1,000 |
| 44,130 |
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| 136,437 |
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Services-Computer Intergrated Systems Design - 2.23% |
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Open Text Corp. (Canada) |
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| 2,400 |
| 75,552 | ||
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| 75,552 |
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Services - Computer Processing & Data Preparation - 2.90% |
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CSG Systems International, Inc. |
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| 1,700 |
| 98,345 | ||
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Services-Computer Programming Services - 4.20% |
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Cognizant Technology Solutions Corp. Class A |
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VeriSign, Inc. (2) |
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| 1,510 |
| 95,387 | |
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| 260 |
| 47,377 |
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| 142,764 |
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Services - Computer Programming, Data Processing, Etc. - 16.15% |
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Alphabet, Inc. Class A (2) |
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| 2,710 |
| 293,276 | ||
Baidu, Inc. (China) (2) |
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| 400 |
| 57,588 | |
DXC Technology Co. (2) |
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| 3,700 |
| 91,686 | ||
Meta Platforms, Inc. Class A (2) |
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| 650 |
| 105,905 | ||
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| 548,455 |
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Services-Management Consulting Services - 8.47% |
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Booz Allen Hamilton Holding Corp. Class A |
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| 880 |
| 84,216 | ||
CGI, Inc. Class A (Canada) (2) |
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| 1,350 |
| 106,920 | ||
The Hackett Group, Inc. |
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| 4,700 |
| 96,491 | |
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| 287,627 |
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Services - Prepackaged Software - 16.74% |
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Adobe, Inc. (2) |
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| 90 |
| 33,610 | |
Check Point Software Technologies Ltd. (Israel) (2) |
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| 1,190 |
| 143,086 | ||
DropBox, Inc. Class A (2) |
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| 4,500 |
| 96,255 | ||
Microsoft Corp. |
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| 290 |
| 75,826 | |
Progress Software Corp. |
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| 2,200 |
| 105,886 | |
VMWare, Inc. Class A (2) |
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| 980 |
| 113,709 | ||
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| 568,372 |
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Ship & Boat Building & Repairing - 3.05% |
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Huntington Ingalls Industries, Inc. |
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| 450 |
| 103,617 | ||
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Telephone Communications (No Radiotelephone) - 1.23% |
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Verizon Communications, Inc. |
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| 1,000 |
| 41,810 | ||
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Wholesale-Electronic Parts & Equipment - 6.73% |
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Arrow Electronics, Inc. (2) |
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| 710 |
| 74,415 | ||
Avnet, Inc. |
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| 1,300 |
| 57,057 |
Ituran Location & Control Ltd. (Israel) |
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| 3,906 |
| 97,103 | ||
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| 228,575 |
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Total Common Stock |
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| (Cost $ 3,200,489) |
| 3,126,892 | |
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Money Market Fund - 8.21% | |||||||
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First American Government Obligations Fund Class X, 2.04% (3) |
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| 278,783 |
| 278,783 | ||
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Total Money Market Fund |
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| (Cost $ 278,783) |
| 278,783 | ||
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Total Investments - 100.30% |
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| (Cost $ 3,479,272) |
| 3,405,675 | ||
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Liabilities in Excess of Other Assets- (0.30%) |
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| (10,145) | ||
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Total Net Assets - 100.00% |
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| 3,395,530 | ||
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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 |
| Instruments | |
Level 1 - Quoted Prices |
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| $ | 3,405,675 | $ | - | |
Level 2 - Other Significant Observable Inputs |
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| - |
| - | ||
Level 3 - Significant Unobservable Inputs |
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| - |
| - | ||
Total |
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| $ | 3,405,675 | $ | - |
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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 Technology Fund (Aug 2022 report)
Filed: 28 Oct 22, 11:19am