CENTRE AMERICAN SELECT EQUITY FUND
SCHEDULE OF INVESTMENTS
December 31, 2021 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS (99.74%) | ||||||||
Communication Services (7.90%) | ||||||||
Interactive Media & Services (7.90%) | ||||||||
Alphabet, Inc. Class A, Class A(a) | 1,863 | $ | 5,397,186 | |||||
Alphabet, Inc. Class C, Class C(a) | 1,751 | 5,066,676 | ||||||
TripAdvisor, Inc.(a) | 95,600 | 2,606,056 | ||||||
13,069,918 | ||||||||
Total Communication Services | 13,069,918 | |||||||
Consumer Discretionary (10.14%) | ||||||||
Hotels, Restaurants & Leisure (3.11%) | ||||||||
Travel + Leisure Co. | 47,272 | 2,612,724 | ||||||
Wynn Resorts, Ltd.(a) | 29,630 | 2,519,735 | ||||||
5,132,459 | ||||||||
Household Durables (2.06%) | ||||||||
Toll Brothers, Inc. | 47,044 | 3,405,515 | ||||||
Internet & Direct Marketing Retail (4.97%) | ||||||||
Amazon.com, Inc.(a) | 2,466 | 8,222,482 | ||||||
Total Consumer Discretionary | 16,760,456 | |||||||
Consumer Staples (3.80%) | ||||||||
Food Products (3.80%) | ||||||||
Archer-Daniels-Midland Co. | 38,120 | 2,576,531 | ||||||
Bunge, Ltd. | 39,749 | 3,710,966 | ||||||
6,287,497 | ||||||||
Total Consumer Staples | 6,287,497 | |||||||
Energy (19.25%) | ||||||||
Oil, Gas & Consumable Fuels (19.25%) | ||||||||
APA Corp. | 190,632 | 5,126,094 | ||||||
Chevron Corp. | 54,565 | 6,403,203 | ||||||
Coterra Energy, Inc. | 199,653 | 3,793,407 | ||||||
EQT Corp.(a) | 198,832 | 4,336,526 | ||||||
Exxon Mobil Corp. | 108,023 | 6,609,927 | ||||||
Kinder Morgan, Inc. | 148,292 | 2,351,911 | ||||||
The Williams Cos., Inc. | 123,214 | 3,208,493 | ||||||
31,829,561 | ||||||||
Total Energy | 31,829,561 | �� | ||||||
Health Care (5.80%) | ||||||||
Biotechnology (3.78%) | ||||||||
AbbVie, Inc. | 26,620 | 3,604,348 | ||||||
Gilead Sciences, Inc. | 36,349 | 2,639,301 | ||||||
6,243,649 | ||||||||
Health Care Equipment & Supplies (2.02%) | ||||||||
Medtronic PLC | 32,377 | 3,349,401 | ||||||
Total Health Care | 9,593,050 | |||||||
Industrials (5.90%) | ||||||||
Aerospace & Defense (3.52%) | ||||||||
Hexcel Corp.(a) | 50,148 | 2,597,667 | ||||||
Textron, Inc. | 41,685 | 3,218,082 | ||||||
5,815,749 |
Shares | Value | |||||||
Industrials (continued) | ||||||||
Road & Rail (2.38%) | ||||||||
Knight-Swift Transportation Holdings, Inc. | 64,679 | $ | 3,941,538 | |||||
Total Industrials | 9,757,287 | |||||||
Information Technology (22.91%) | ||||||||
Semiconductors & Semiconductor Equipment (4.65%) | ||||||||
Applied Materials, Inc. | 17,580 | 2,766,389 | ||||||
Intel Corp. | 95,422 | 4,914,233 | ||||||
7,680,622 | ||||||||
Software (8.93%) | ||||||||
Microsoft Corp. | 43,915 | 14,769,493 | ||||||
Technology Hardware, Storage & Peripherals (9.33%) | ||||||||
Apple, Inc. | 86,923 | 15,434,917 | ||||||
Total Information Technology | 37,885,032 | |||||||
Materials (21.33%) | ||||||||
Chemicals (14.38%) | ||||||||
CF Industries Holdings, Inc. | 66,166 | 4,683,230 | ||||||
Corteva, Inc. | 103,247 | 4,881,518 | ||||||
Eastman Chemical Co. | 22,101 | 2,672,232 | ||||||
LyondellBasell Industries, Class A | 25,596 | 2,360,719 | ||||||
Mosaic Co. | 105,313 | 4,137,748 | ||||||
Olin Corp. | 87,693 | 5,044,101 | ||||||
23,779,548 | ||||||||
Metals & Mining (6.95%) | ||||||||
Allegheny Technologies, Inc.(a) | 148,800 | 2,370,384 | ||||||
BHP Group, Ltd. | 82,983 | 5,008,024 | ||||||
Teck Resources, Ltd., Class B | 142,721 | 4,113,219 | ||||||
11,491,627 | ||||||||
Total Materials | 35,271,175 | |||||||
Real Estate (2.71%) | ||||||||
Equity Real Estate Investment Trusts (REITs) (2.71%) | ||||||||
Weyerhaeuser Co. | 108,646 | 4,474,042 | ||||||
Total Real Estate | 4,474,042 | |||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $95,917,116) | 164,928,018 |
Expiration Date | Exercise Price | Contracts | Notional Value | Value | |||||||||||||
PURCHASED OPTIONS (0.39%) | |||||||||||||||||
Puts | |||||||||||||||||
NASDAQ 100® Index: | |||||||||||||||||
6/17/2022 | $ | 12,600.00 | 30 | $ | 48,960,240 | 635,700 | |||||||||||
Total Puts | 635,700 | ||||||||||||||||
TOTAL PURCHASED OPTIONS | |||||||||||||||||
(Cost $815,529) | 635,700 |
Expiration Date | Exercise Price | Contracts | Notional Value | Value | ||||||||||||
TOTAL INVESTMENTS (100.13%) | ||||||||||||||||
(Cost $96,732,645) | $ | 165,563,718 | ||||||||||||||
Liabilities in Excess of Other Assets (-0.13%) | (211,225 | ) | ||||||||||||||
NET ASSETS (100.00%) | $ | 165,352,493 | ||||||||||||||
(a) | Non-income producing security. |
See Notes to Quarterly Schedule of Investments.
CENTRE GLOBAL INFRASTRUCTURE FUND
SCHEDULE OF INVESTMENTS
December 31, 2021 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS (100.00%) | ||||||||
ASIA (18.06%) | ||||||||
Australia (4.50%) | ||||||||
Diversified Telecommunication Services (1.21%) | ||||||||
TPG Telecom, Ltd. | 112,441 | $ | 481,839 | |||||
Health Care Providers & Services (0.77%) | ||||||||
Ramsay Health Care, Ltd. | 5,900 | 306,916 | ||||||
Transportation Infrastructure (2.52%) | ||||||||
Transurban Group | 99,330 | 998,734 | ||||||
Total Australia | 1,787,489 | |||||||
China (2.14%) | ||||||||
Independent Power and Renewable Electricity Producers (2.14%) | ||||||||
Datang International Power Generation Co., Ltd., Class H | 3,761,000 | 848,902 | ||||||
Total China | 848,902 | |||||||
Hong Kong (4.59%) | ||||||||
Electric Utilities (1.72%) | ||||||||
CK Infrastructure Holdings, Ltd. | 107,500 | 684,494 | ||||||
Gas Utilities (1.36%) | ||||||||
Kunlun Energy Co., Ltd. | 578,000 | 541,860 | ||||||
Water Utilities (1.51%) | ||||||||
Beijing Enterprises Water Group, Ltd. | 1,539,800 | 598,341 | ||||||
Total Hong Kong | 1,824,695 | |||||||
Japan (6.83%) | ||||||||
Diversified Telecommunication Services (1.05%) | ||||||||
Nippon Telegraph & Telephone Corp. | 15,200 | 416,239 | ||||||
Gas Utilities (1.52%) | ||||||||
Osaka Gas Co., Ltd. | 36,600 | 604,856 | ||||||
Wireless Telecommunication Services (4.26%) | ||||||||
KDDI Corp. | 17,900 | 523,166 | ||||||
SoftBank Corp. | 30,400 | 384,394 | ||||||
SoftBank Group Corp. | 16,600 | 784,182 | ||||||
1,691,742 | ||||||||
Total Japan | 2,712,837 | |||||||
TOTAL ASIA | ||||||||
(Cost $6,940,970) | 7,173,923 | |||||||
EUROPE (18.25%) | ||||||||
Denmark (0.58%) | ||||||||
Electric Utilities (0.58%) | ||||||||
Orsted AS(a)(b) | 1,800 | 230,151 | ||||||
Total Denmark | 230,151 |
Shares | Value | |||||||
France (1.78%) | ||||||||
Diversified Telecommunication Services (0.60%) | ||||||||
Orange SA | 22,370 | $ | 239,732 | |||||
Multi-Utilities (0.61%) | ||||||||
Engie SA | 16,200 | 240,026 | ||||||
Transportation Infrastructure (0.57%) | ||||||||
Getlink SE | 13,700 | 227,099 | ||||||
Total France | 706,857 | |||||||
Germany (3.26%) | ||||||||
Diversified Telecommunication Services (2.00%) | ||||||||
Deutsche Telekom AG | 42,718 | 792,741 | ||||||
Multi-Utilities (1.26%) | ||||||||
E.ON SE | 20,000 | 277,611 | ||||||
RWE AG | 5,490 | 223,263 | ||||||
500,874 | ||||||||
Total Germany | 1,293,615 | |||||||
Great Britain (3.12%) | ||||||||
Diversified Telecommunication Services (0.64%) | ||||||||
BT Group PLC | 111,671 | 256,278 | ||||||
Multi-Utilities (1.13%) | ||||||||
National Grid PLC | 31,160 | 446,987 | ||||||
Wireless Telecommunication Services (1.35%) | ||||||||
Vodafone Group PLC | 353,916 | 537,772 | ||||||
Total Great Britain | 1,241,037 | |||||||
Italy (2.26%) | ||||||||
Electric Utilities (1.40%) | ||||||||
Enel SpA | 69,540 | 557,840 | ||||||
Transportation Infrastructure (0.86%) | ||||||||
Atlantia SpA(c) | 17,130 | 340,416 | ||||||
Total Italy | 898,256 | |||||||
Spain (5.76%) | ||||||||
Diversified Telecommunication Services (1.56%) | ||||||||
Cellnex Telecom SA(a)(b) | 6,300 | 367,091 | ||||||
Telefonica SA | 57,449 | 251,942 | ||||||
619,033 | ||||||||
Electric Utilities (3.34%) | ||||||||
Iberdrola SA | 53,042 | 628,642 | ||||||
Red Electrica Corp. SA | 32,207 | 697,601 | ||||||
1,326,243 | ||||||||
Transportation Infrastructure (0.86%) | ||||||||
Aena SME SA(a)(b)(c) | 2,170 | 342,911 | ||||||
Total Spain | 2,288,187 |
Shares | Value | |||||||
Sweden (1.49%) | ||||||||
Construction & Engineering (1.49%) | ||||||||
Skanska AB, B Shares | 22,818 | $ | 591,396 | |||||
Total Sweden | 591,396 | |||||||
TOTAL EUROPE | ||||||||
(Cost $6,884,099) | 7,249,499 | |||||||
NORTH AMERICA (63.69%) | ||||||||
Canada (12.04%) | ||||||||
Oil, Gas & Consumable Fuels (11.53%) | ||||||||
Enbridge, Inc. | 66,362 | 2,592,155 | ||||||
Pembina Pipeline Corp. | 18,551 | 562,711 | ||||||
TC Energy Corp. | 30,693 | 1,427,463 | ||||||
4,582,329 | ||||||||
Wireless Telecommunication Services (0.51%) | ||||||||
Rogers Communications, Inc., Class B | 4,264 | 203,029 | ||||||
Total Canada | 4,785,358 | |||||||
United States (51.65%) | ||||||||
Diversified Telecommunication Services (11.94%) | ||||||||
AT&T, Inc. | 83,491 | 2,053,879 | ||||||
Verizon Communications, Inc. | 51,741 | 2,688,462 | ||||||
4,742,341 | ||||||||
Electric Utilities (12.77%) | ||||||||
American Electric Power Co., Inc. | 4,226 | 375,987 | ||||||
Duke Energy Corp. | 6,638 | 696,326 | ||||||
Edison International | 10,887 | 743,038 | ||||||
Eversource Energy | 2,861 | 260,294 | ||||||
Exelon Corp. | 8,128 | 469,473 | ||||||
NextEra Energy, Inc. | 17,171 | 1,603,085 | ||||||
The Southern Co. | 9,002 | 617,357 | ||||||
Xcel Energy, Inc. | 4,550 | 308,035 | ||||||
5,073,595 | ||||||||
Health Care Providers & Services (6.69%) | ||||||||
HCA Healthcare, Inc. | 8,986 | 2,308,683 | ||||||
Universal Health Services, Inc., Class B | 2,705 | 350,730 | ||||||
2,659,413 | ||||||||
Multi-Utilities (4.27%) | ||||||||
Consolidated Edison, Inc. | 2,869 | 244,783 | ||||||
Dominion Energy, Inc. | 7,040 | 553,062 | ||||||
Public Service Enterprise Group, Inc. | 4,252 | 283,736 | ||||||
Sempra Energy | 2,757 | 364,696 | ||||||
WEC Energy Group, Inc. | 2,581 | 250,538 | ||||||
1,696,815 | ||||||||
Oil, Gas & Consumable Fuels (11.54%) | ||||||||
Cheniere Energy, Inc. | 7,830 | 794,119 | ||||||
Kinder Morgan, Inc. | 90,664 | 1,437,931 | ||||||
ONEOK, Inc. | 14,803 | 869,824 | ||||||
The Williams Cos., Inc. | 56,928 | 1,482,405 | ||||||
4,584,279 | ||||||||
Road & Rail (1.44%) | ||||||||
Knight-Swift Transportation Holdings, Inc. | 9,395 | 572,531 | ||||||
Water Utilities (0.66%) | ||||||||
American Water Works Co., Inc. | 1,378 | 260,249 |
Shares | Value | |||||||
Wireless Telecommunication Services (2.34%) | ||||||||
T-Mobile US, Inc.(c) | 8,014 | $ | 929,464 | |||||
Total United States | 20,518,687 | |||||||
TOTAL NORTH AMERICA | ||||||||
(Cost $21,087,590) | 25,304,045 | |||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $34,912,659) | 39,727,467 |
Value | ||||||||
TOTAL INVESTMENTS (100.00%) | ||||||||
(Cost $34,912,659) | $ | 39,727,467 | ||||||
Other Assets In Excess Of Liabilities (0.00%) | 1,704 | |||||||
NET ASSETS (100.00%) | $ | 39,729,171 |
(a) | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be resold in transactions exempt from registration only to qualified institutional buyers. As of December 31, 2021, these securities had a total aggregate market value of $940,153, representing 2.37% of net assets. |
(b) | Securities were purchased pursuant to Regulation S under the Securities Act of 1933, which exempts securities offered and sold outside the United States from registration. Such securities cannot be sold in the United States without either an effective registration statement filed pursuant to Securities Act of 1933, or pursuant to an exemption from registration. These securities have been deemed liquid under guidelines approved by the Fund's Board of Trustees. At period end, the aggregate market value of those securities was $940,153, representing 2.37% of net assets. |
(c) | Non-income producing security. |
See Notes to Quarterly Schedule of Investments.
Centre American Select Equity Fund | ||||||||||||||||
Investments in Securities at Value(a) | Level 1 - Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | ||||||||||||
Common Stocks | $ | 164,928,018 | $ | – | $ | – | $ | 164,928,018 | ||||||||
Purchased Options | 635,700 | – | – | 635,700 | ||||||||||||
Total | $ | 165,563,718 | $ | – | $ | – | $ | 165,563,718 | ||||||||
Centre Global Infrastructure Fund | ||||||||||||||||
Investments in Securities at Value(a) | Level 1 - Quoted Prices | Level 2 - Other Significant Observable Inputs | Level 3 - Significant Unobservable Inputs | Total | ||||||||||||
Common Stocks | $ | 39,727,467 | $ | – | $ | – | $ | 39,727,467 | ||||||||
Total | $ | 39,727,467 | $ | – | $ | – | $ | 39,727,467 | ||||||||
(a) | For detailed descriptions of sectors, industries and countries, see the accompanying Schedule of Investments. |