Schedule of Investments | |||||||
March 28, 2024 (unaudited) | |||||||
Mercator International Opportunity Fund | |||||||
Shares or Principal | |||||||
Security Description |
|
| Amount ($) |
| Fair Value ($)(1) | ||
| |||||||
Common Stocks - 98.11% | |||||||
Airports, Flying Fields & Airport Terminal Services - 1.47% | |||||||
Grupo Aeroportuario del Sureste S.A.B. de C.V. ADR | 1,000 |
| 318,680 | ||||
Auto Manufacturers - 3.09% | |||||||
Subaru Corp. | 20,000 | 452,917 | |||||
Aston Martin Lagonda Global Holdings plc ADR | 100,000 | 214,446 | |||||
667,363 | |||||||
Biological Products, (No Diagnostic Substances) - 1.10% | |||||||
CRISPR Therapeutics AG | 3,500 | 238,560 | |||||
Biotech & Pharma- 1.74% | |||||||
ALK-Abellà A/S | 21,000 | 376,920 | |||||
Biotechnology 0.72% | |||||||
Onward Medical NV | 30,000 | 154,698 | |||||
Comml & Res Bldg Equip & Sys - 1.51% | |||||||
Japan Elevator Service Holdings Co., Ltd. | 20,000 | 326,005 | |||||
Consulting Services - 2.04% | |||||||
Bengo4.com, Inc. | 20,000 | 440,226 | |||||
Consumer Discretionary Products - 1.45% | |||||||
Mister Spex SE | 90,000 | 313,604 | |||||
Consumer Discretionary-Services - 5.25% | |||||||
Entain plc (United Kingdom) (2) | 34,000 | 342,200 | |||||
Watches of Switzerland Group plc | 175,000 | 792,087 | |||||
1,134,287 | |||||||
Hardware - 0.38% | |||||||
Tobii AB-RTS | 240,000 | 13,635 | |||||
Tobii AB | 240,000 | 69,519 | |||||
83,154 | |||||||
Health Care Facilities & Services - 2.02% | |||||||
Amplifon S.p.a. | 12,000 | 437,557 | |||||
| |||||||
Internet Content & Information - 1.83% | |||||||
Spotify Technology S.A. | 1,500 | 395,850 | |||||
Media - 3.30% | |||||||
CyberAgent, Inc. | 45,000 | 326,600 | |||||
Future plc | 50,120 | 387,790 | |||||
714,390 | |||||||
Medical Equipment & Devices - 1.01% | |||||||
Lumibird | 154,952 | 219,270 | |||||
Medical Instruments & Supplies 2.19% | |||||||
Asahi Intecc Co., Ltd. | 14,000 | 244,491 | |||||
Shofu, Inc. (2) | 12,000 | 229,631 | |||||
474,122 | |||||||
Packaged Foods - 2.41% | |||||||
Ajinomoto Co., Inc. (2) | 14,000 | 521,185 | |||||
Real Estate - 1.74% | |||||||
Cresud SACIF y A ADR (2) | 39,894 | 356,253 | |||||
IRSA Inversioners y Representaciones Sociedad Anonima | 2,080 | 19,469 | |||||
375,722 | |||||||
Retail and Wholesale-Discretionary - 0.94% | |||||||
Pets at Home Group plc (2) | 60,000 | 203,263 | |||||
Retail-Consumer Staples - 1.86% | |||||||
Ocado Group plc | 70,000 | 402,096 | |||||
Retail-Discretionary - 10.58% | |||||||
Boozt AB | 40,000 | 525,133 | |||||
MonotaRO Co., Ltd. | 26,100 | 313,126 | |||||
Rakuten Group, Inc. | 130,000 | 735,561 | |||||
Zalando SE | 25,000 | 714,429 | |||||
2,288,248 | |||||||
Semiductors - 13.56% | |||||||
AIXTRON SE | 16,000 | 422,886 | |||||
Lasertec Corp. (2) | 3,000 | 851,302 | |||||
Taiwan Semiconductor Manufacturing Company Ltd. (2) | 3,500 | 476,175 | |||||
Vitec Software Group AB Class B (2) | 7,000 | 363,668 | |||||
Alphawave IP Group plc | 150,000 | 331,325 | |||||
Advantest Corp. (2) | 11,000 | 486,793 | |||||
2,932,149 | |||||||
Semiconductors & Related Devices - 4.80% | |||||||
Tokyo Electron Ltd. (2) | 4,000 | 1,038,034 | |||||
Services-Business Services, NEC - 4.90% | |||||||
MercadoLibre, Inc. | 700 | 1,058,372 | |||||
Software - 8.26% | |||||||
Materialise NV | 85,000 | 448,800 | |||||
RaySearch Laboratories AB Class B | 34,000 | 365,350 | |||||
Money Forward, Inc. | 10,000 | 444,523 | |||||
Comture Corp. (2) | 20,000 | 259,773 | |||||
ZOO Digital Group plc | 600,000 | 268,089 | |||||
1,786,535 | |||||||
Software Technology Services - 3.66% | |||||||
Nemetschek SE | 3,000 | 296,840 | |||||
Boku, Inc. | 212,000 | 493,693 | |||||
790,533 | |||||||
Specialty Apparel Stores - 4.40% | |||||||
Hugo Boss AG | 4,500 | 265,156 | |||||
Brunello Cucinelli S.p.A. | 6,000 | 686,110 | |||||
951,266 | |||||||
Specialty Finance - 3.29% | |||||||
Adyen N.V. | 420 | 710,448 | |||||
Specialty Industrial Machinery - 0.94% | |||||||
PVA TePla AG | 10,000 | 202,705 | |||||
Tech Hardware & Semiconductors - 6.58% | |||||||
ASM International NV | 1,100 | 671,536 | |||||
Accesso Technology Group plc | 50,000 | 338,267 | |||||
Jeol Ltd. | 10,000 | 412,200 | |||||
1,422,003 | |||||||
Technology Services - 1.09% | |||||||
Adesso SE | 2,000 | 235,608 | |||||
Total Common Stocks | (Cost $ 24,492,277) | 21,212,855 | |||||
Money Market Registered Investment Companies - 2.22% | |||||||
First American Government Obligations Fund Class X 5.25% (3) | 478,965 | 478,965 | |||||
Total Money Market Registered Investment Companies | (Cost $ 478,982) | 478,965 | |||||
Total Investments - 100.33% | (Cost $ 21,359,143) | 21,691,820 | |||||
Other Liabilities Less Assets - (0.33%) | (71,038) | ||||||
Total Net Assets - 100.00% | 21,620,781 | ||||||
(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 March 28, 2024 in valuing the Fund's assets carried at fair value: | |||||||
|
|
|
|
| Investments in |
| Other Financial |
Valuation Inputs |
|
|
| Securities |
| Instruments | |
Level 1 - Quoted Prices |
|
| $ | 21,691,820 | $ | - | |
Level 2 - Other Significant Observable Inputs |
|
| - |
| - | ||
Level 3 - Significant Unobservable Inputs |
|
| - |
| - | ||
Total |
|
|
| $ | 21,691,820 | $ | - |
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. | |||||||
As of March 28,2024, the breakout of the Fund's portfolio by country of issuer was as follows: | |||||||
| Country | % of Net Assets | |||||
Argentina |
|
|
|
| 6.69% | ||
Belgium | 2.09% | ||||||
Denmark | 1.76% | ||||||
France | 1.02% | ||||||
Germany | 11.43% | ||||||
Great Britain | 9.57% | ||||||
Italy | 5.24% | ||||||
Japan | 33.01% | ||||||
Luxembourg | 1.85% | ||||||
Mexico | 1.49% | ||||||
Netherlands | 7.16% | ||||||
Sweden | 6.23% | ||||||
Taiwan | 2.22% | ||||||
United Kingdom | 8.02% | ||||||
United States | 2.23% | ||||||
100.00% | |||||||
(2) Represents non-income producing securities. | |||||||
(3) Variable rate security; the rate shown represents the yield at March 28, 2024. | |||||||
ADR - American Depositary Receipt. | |||||||
PLC - Public Limited Company | |||||||
SE - Societas Europaea, Latin term means European Company. | |||||||
SA - Société Anonyme, a French term for a public limited company. | |||||||
AB - Aktiebolag, the Swedish term for "limited company" or "corporation". | |||||||
AG - Aktiengesellschaft, a German term for a public limited company. | |||||||
SpA - Società per azioni, an Italian term for a public limited company. | |||||||
KGaA - Kommanditgesellschaft auf Aktien, a German corporate designation standing for partnership limited by shares. | |||||||
ASA - Allmennaksjeselskap, a Norwegian term for public limited company. | |||||||
NV - Naamloze Vennootschap, a Dutch term for public limited company. |
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NPORT-P Filing
Collaborative Investment Series Trust NPORT-PMercator International Opportunity Fund (Mar 2024 report)
Filed: 24 May 24, 12:06pm