Schedule of Investments | |||||||
February 28, 2023 (unaudited) | |||||||
Towpath Technology Fund | |||||||
Shares or Principal | |||||||
Security Description |
|
| Amount ($) |
| Fair Value ($)(1) | ||
| |||||||
Common Stocks - 90.45% | |||||||
Biological products (No Diagnostic Substances) - 3.42% | |||||||
Biogen, Inc. (2) | 440 | 118,738 | |||||
Computer & Office Equipment - 4.04% | |||||||
HP, Inc. | 3,000 | 88,560 | |||||
International Business Machines Corp. | 400 | 51,720 | |||||
140,280 | |||||||
Computer Communications Equipment - 3.76% | |||||||
Cisco Systems, Inc. (2) | 2,700 | 130,734 | |||||
Computer Storage Devices - 2.64% | |||||||
NetApp, Inc. | 1,420 | 91,661 | |||||
Components & Accessories - 1.41% | |||||||
Vishay Intertechnology, Inc. | 2,300 | 48,829 | |||||
Electronic Computers - 4.88% | |||||||
Apple, Inc. | 1,150 | 169,522 | |||||
Optical Instruments & Lenses - 2.84% | |||||||
KLA Corp. | 260 | 98,639 | |||||
Printed Circuit Boards - 2.62% | |||||||
TTM Technologies, Inc. (2) | 6,849 | 91,023 | |||||
Retail-Catalog & Mail-Order Houses - 0.87% | |||||||
Amazon.com, Inc. (2) | 320 | 30,154 | |||||
Semiconductors & Related Devices - 2.85% | |||||||
Photronics, Inc. (2) | 5,610 | 98,848 | |||||
Services-Business Services - 4.34% | |||||||
Accenture PLC Class A (Ireland) | 395 | 104,892 | |||||
eBay, Inc. | 1,000 | 45,900 | |||||
150,792 | |||||||
Services-Computer Intergrated Systems Design - 2.38% | |||||||
Open Text Corp. (Canada) | 2,400 | 82,512 | |||||
82,512 | |||||||
Services-Computer Programming Services - 5.03% | |||||||
Cognizant Technology Solutions Corp. Class A | 1,660 | 103,966 | |||||
VeriSign, Inc. (2) | 360 | 70,859 | |||||
174,825 | |||||||
Services - Computer Programming, Data Processsing, Etc. - 14.54% | |||||||
Alphabet, Inc. Class A (2) | 2,710 | 244,063 | |||||
Baidu, Inc. (China) (2) | 400 | 55,076 | |||||
DXC Technology Co. (2) | 3,700 | 102,638 | |||||
Meta Platforms, Inc. Class A (2) | 590 | 103,214 | |||||
504,991 | |||||||
Services-Management Consulting Services - 8.51% | |||||||
Booz Allen Hamilton Holding Corp. Class A | 880 | 83,362 | |||||
CGI, Inc. Class A (Canada) (2) | 1,350 | 120,987 | |||||
The Hackett Group, Inc. | 4,900 | 91,336 | |||||
295,685 | |||||||
Services - Prepackaged Software - 17.63% | |||||||
Adobe, Inc. (2) | 150 | 48,593 | |||||
Check Point Software Technologies Ltd. (Israel) (2) | 1,190 | 147,227 | |||||
DropBox, Inc. Class A (2) | 5,100 | 104,040 | |||||
Microsoft Corp. | 290 | 72,332 | |||||
Progress Software Corp. | 2,300 | 132,112 | |||||
VMWare, Inc. Class A | 980 | 107,927 | |||||
612,231 | |||||||
Ship & Boat Building & Repairing - 2.66% | |||||||
Huntington Ingalls Industries, Inc. | 430 | 92,536 | |||||
Telephone Communications (No Radiotelephone) - 1.12% | |||||||
Verizon Communications, Inc. | 1,000 | 38,810 | |||||
Wholesale-Electronic Parts & Equipment - 4.91% | |||||||
Arrow Electronics, Inc. (2) | 710 | 83,773 | |||||
Ituran Location & Control Ltd. (Israel) | 3,891 | 86,925 | |||||
170,698 | |||||||
Total Common Stock | (Cost $ 3,205,695) | 3,141,508 | |||||
Money Market Fund - 9.26% | |||||||
First American Government Obligations Fund Class X, 4.37% (3) | 321,670 | 321,670 | |||||
Total Money Market Fund | (Cost $ 321,670) | 321,670 | |||||
Total Investments - 99.71% | (Cost $ 3,527,365) | 3,463,178 | |||||
Liabilities in Excess of Other Assets (0.29%) | 10,040 | ||||||
Total Net Assets - 100.00% | 3,473,218 | ||||||
(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) | |||||||
The following is a summary of the inputs used as of February 28, 2023 in valuing the Fund's assets carried at fair value: | |||||||
|
|
|
|
| Investments in |
| Other Financial |
Valuation Inputs |
|
|
| Securities |
| Instruments | |
Level 1 - Quoted Prices |
|
| $ | 3,463,178 | $ | - | |
Level 2 - Other Significant Observable Inputs |
|
| - |
| - | ||
Level 3 - Significant Unobservable Inputs |
|
| - |
| - | ||
Total |
|
|
| $ | 3,463,178 | $ | - |
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. | |||||||
(2) Represents non-income producing securities. | |||||||
(3) Variable Rate Security: the Yield Rate shown represents the rate at February 28, 2023. |
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NPORT-P Filing
MSS Series Trust NPORT-PTowpath Technology Fund (Feb 2023 report)
Filed: 27 Apr 23, 12:10pm