CCM Core Impact Equity Fund
Schedule of Investments March 31, 2023 (Unaudited)
| | | Shares | | | Value | |
COMMON STOCK - 97.96% |
Communication Services - 5.51% | | | | | | | | |
Web Portals/Internet Service Providers - 5.51% | | | | | | | | |
Alphabet, Cl A (a) | | | 15,000 | | | $ | 1,555,950 | |
Alphabet, Cl C (a) | | | 13,100 | | | | 1,362,400 | |
| | | | | | | | 2,918,350 | |
Consumer Discretionary - 8.19% | | | | | | | | |
Building-Residential/Commercial - 2.48% | | | | | | | | |
Lennar, Cl B | | | 10,000 | | | | 893,100 | |
NVR (a) | | | 75 | | | | 417,914 | |
Retail-Automobile - 4.39% | | | | | | | | |
Asbury Automotive Group (a) | | | 5,400 | | | | 1,134,000 | |
Lithia Motors, Cl A | | | 5,200 | | | | 1,190,436 | |
Retail-Restaurants - 1.32% | | | | | | | | |
Jack in the Box | | | 8,000 | | | | 700,720 | |
| | | | | | | | 4,336,170 | |
Consumer Staples - 6.92% | | | | | | | | |
Brewery - 1.41% | | | | | | | | |
Constellation Brands, Cl A | | | 3,300 | | | | 745,437 | |
Cosmetics &Toiletries - 2.94% | | | | | | | | |
Unilever PLC ADR | | | 30,000 | | | | 1,557,900 | |
Food-Confectionery - 2.57% | | | | | | | | |
Mondelez International, Cl A | | | 19,500 | | | | 1,359,540 | |
| | | | | | | | 3,662,877 | |
Financials - 20.36% | | | | | | | | |
Commercial Banks - Eastern US - 0.90% | | | | | | | | |
Financial Institutions | | | 24,823 | | | | 478,587 | |
Commercial Service-Finance - 5.69% | | | | | | | | |
FleetCor Technologies (a) | | | 6,000 | | | | 1,265,100 | |
Global Payments | | | 16,600 | | | | 1,746,984 | |
Diversified Banking Inst - 0.94% | | | | | | | | |
JPMorgan Chase | | | 3,800 | | | | 495,178 | |
Finance-Credit Card - 2.33% | | | | | | | | |
Discover Financial Services | | | 12,500 | | | | 1,235,500 | |
Investment Management/Advisory Services - 5.43% | | | | | | | | |
Ameriprise Financial | | | 4,000 | | | | 1,226,000 | |
BlackRock, Cl A | | | 1,700 | | | | 1,137,504 | |
Raymond James Financial | | | 5,500 | | | | 512,985 | |
Property/Casualty Insurance - 5.07% | | | | | | | | |
Assurant | | | 6,250 | | | | 750,438 | |
Berkshire Hathaway, Cl B (a) | | | 3,700 | | | | 1,142,449 | |
Fidelity National Financial | | | 22,600 | | | | 789,418 | |
| | | | | | | | 10,780,143 | |
Health Care - 19.09% | | | | | | | | |
Diagnostic Equipment - 1.63% | | | | | | | | |
Thermo Fisher Scientific | | | 1,500 | | | | 864,555 | |
Medical Instruments - 2.93% | | | | | | | | |
Boston Scientific (a) | | | 31,000 | | | | 1,550,930 | |
CCM Core Impact Equity Fund
Schedule of Investments March 31, 2023 (Unaudited)
| | Shares | | | Value | |
COMMON STOCK — continued |
Medical Labs&Testing Srv - 4.16% | | | | | | | | |
Charles River Laboratories International (a) | | | 5,000 | | | $ | 1,009,100 | |
Laboratory Corp of America Holdings | | | 5,200 | | | | 1,192,984 | |
Medical-Health Maintenance Organization - 3.47% | | | | | | | | |
Elevance Health | | | 2,950 | | | | 1,356,439 | |
Molina Healthcare (a) | | | 1,800 | | | | 481,482 | |
Medical-Hospitals - 1.85% | | | | | | | | |
Universal Health Services, Cl B | | | 7,700 | | | | 978,670 | |
Medical-Wholesale Drug Distributors - 2.66% | | | | | | | | |
AmerisourceBergen, Cl A | | | 8,800 | | | | 1,408,968 | |
Pharmacy Services - 2.39% | | | | | | | | |
Cigna Group | | | 4,950 | | | | 1,264,874 | |
| | | | | | | | 10,108,002 | |
Industrials - 10.04% | | | | | | | | |
Airport Develop/Maint - 1.88% | | | | | | | | |
Grupo Aeroportuario del Pacifico | | | 5,100 | | | | 995,061 | |
Building & Construction Products-Miscellaneous - 1.38% | | | | | | | | |
Owens Corning | | | 7,600 | | | | 728,080 | |
Commercial Services - 3.93% | | | | | | | | |
Quanta Services | | | 12,500 | | | | 2,083,000 | |
Diversified Manufact Op - 1.90% | | | | | | | | |
Parker-Hannifin | | | 3,000 | | | | 1,008,330 | |
Machinery - Pumps - 0.95% | | | | | | | | |
Zurn Elkay Water Solutions | | | 23,500 | | | | 501,960 | |
| | | | | | | | 5,316,431 | |
Information Technology - 18.15% | | | | | | | | |
Applications Software - 8.20% | | | | | | | | |
Intuit | | | 2,400 | | | | 1,069,992 | |
Microsoft | | | 11,350 | | | | 3,272,205 | |
Electronic Components-Semiconducters - 3.15% | | | | | | | | |
Broadcom | | | 2,600 | | | | 1,668,004 | |
Electronic Forms - 2.00% | | | | | | | | |
Adobe (a) | | | 2,750 | | | | 1,059,768 | |
Electronic Parts Distributors - 2.58% | | | | | | | | |
TD SYNNEX | | | 14,100 | | | | 1,364,739 | |
Semicon Compo-Intg Circu - 2.22% | | | | | | | | |
Taiwan Semiconductor Manufacturing | | | 12,600 | | | | 1,172,052 | |
| | | | | | | | 9,606,760 | |
Materials - 1.84% | | | | | | | | |
Containers-Paper/Plastic - 1.84% | | | | | | | | |
Berry Global Group | | | 16,500 | | | | 971,850 | |
Real Estate - 1.64% | | | | | | | | |
REITS-Diversified - 1.64% | | | | | | | | |
WP Carey | | | 11,200 | | | | 867,440 | |
Utilities - 6.22% | | | | | | | | |
Electric-Generation - 1.19% | | | | | | | | |
Brookfield Renewable Partners | | | 20,000 | | | | 630,200 | |
CCM Core Impact Equity Fund
Schedule of Investments March 31, 2023 (Unaudited)
| | Shares | | | Value | |
COMMON STOCK — continued |
Electric-Integrated - 1.16% | | | | | | | | |
CMS Energy | | | 10,000 | | | $ | 613,800 | |
Energy-Alternate Sources - 3.21% | | | | | | | | |
NextEra Energy Partners | | | 28,000 | | | | 1,701,000 | |
Water - 0.66% | | | | | | | | |
Veolia Environnement | | | 11,300 | | | | 348,492 | |
| | | | | | | | 3,293,492 | |
TOTAL COMMON STOCK | | | | |
(Cost $43,046,325) | | | | | | | 51,861,515 | |
| | | | | | | | | |
ESCROW SHARES - 0.02% |
Industrials - 0.02% | | | | | | | | |
Airlines - 0.02% | | | | | | | | |
American Airlines Escrow (a) (b) | | | 218,835 | | | | 6,565 | |
TOTAL ESCROW SHARES | | | | |
(Cost $24,536) | | | | | | | 6,565 | |
| | | | | | | | | |
SHORT-TERM INVESTMENT - 2.17% | | | | | | | | |
Money Market Fund - 2.17% |
First American Government Obligations Fund, Cl X, 4.65%, (c) | | | 1,151,051 | | | | 1,151,051 | |
TOTAL SHORT-TERM INVESTMENT | | | | |
(Cost $1,151,051) | | | | | | | 1,151,051 | |
Total Investments (Cost $44,221,912) - 100.15% | | $ | 53,019,131 | |
Liabilities in Excess of Other Assets, Net - (0.15)% | | | (78,534 | ) |
NET ASSETS - 100.00% | | $ | 52,940,597 | |
(a) | Non-income producing security. |
(b) | Level 3 security in accordance with fair value hierarchy. |
(c) | The rate shown is the 7-day effective yield as of March 31, 2023. |
ADR — American Depositary Receipt |
Cl — Class |
PLC — Public Limited Company |
REIT — Real Estate Investment Trust |
CCM Small/Mid-Cap Impact Value Fund
Schedule of Investments March 31, 2023 (Unaudited)
| | | Shares | | | Value | |
COMMON STOCK - 95.71% |
Communication Services - 2.62% | | | | | | | | |
Advertising Agencies - 2.62% | | | | | | | | |
Omnicom Group | | | 4,500 | | | $ | 424,530 | |
Consumer Discretionary - 12.99% | | | | | | | | |
Building-Residential/Commercial - 2.83% | | | | | | | | |
Lennar, Cl B | | | 2,650 | | | | 236,671 | |
NVR (a) | | | 40 | | | | 222,888 | |
Recreational Vehicles - 2.43% | | | | | | | | |
Brunswick | | | 4,800 | | | | 393,600 | |
Retail-Automobile - 5.57% | | | | | | | | |
Asbury Automotive Group (a) | | | 2,700 | | | | 567,000 | |
Lithia Motors, Cl A | | | 1,475 | | | | 337,672 | |
Retail-Restaurants - 2.16% | | | | | | | | |
Jack in the Box | | | 4,000 | | | | 350,360 | |
| | | | | | | | 2,108,191 | |
Consumer Staples - 2.83% | | | | | | | | |
Beverages-Non-alcoholic - 1.93% | | | | | | | | |
Coca-Cola Femsa ADR | | | 3,900 | | | | 313,833 | |
Pastoral&Agricultural - 0.90% | | | | | | | | |
Darling Ingredients (a) | | | 2,500 | | | | 146,000 | |
| | | | | | | | 459,833 | |
Financials - 25.24% | | | | | | | | |
Commercial Banks - Eastern US - 2.49% | | | | | | | | |
Financial Institutions | | | 21,000 | | | | 404,880 | |
Commercial Banks - Southern US - 3.12% | | | | | | | | |
First Citizens BancShares, Cl A | | | 520 | | | | 506,012 | |
Commercial Service-Finance - 3.25% | | | | | | | | |
FleetCor Technologies (a) | | | 2,500 | | | | 527,125 | |
Finance-Credit Card - 2.31% | | | | | | | | |
Discover Financial Services | | | 3,800 | | | | 375,592 | |
Investment Management/Advisory Services - 6.56% | | | | | | | | |
Ameriprise Financial | | | 1,800 | | | | 551,700 | |
Raymond James Financial | | | 5,500 | | | | 512,985 | |
Life/Health Insurance - 1.19% | | | | | | | | |
F&G Annuities & Life | | | 10,695 | | | | 193,793 | |
Property/Casualty Insurance - 3.75% | | | | | | | | |
Assurant | | | 1,940 | | | | 232,936 | |
Fidelity National Financial | | | 10,750 | | | | 375,497 | |
Savings & Loans/Thrifts - Eastern US - 2.57% | | | | | | | | |
Hingham Institution For Savings | | | 1,790 | | | | 417,858 | |
| | | | | | | | 4,098,378 | |
Health Care - 9.87% | | | | | | | | |
Medical Labs&Testing Srv - 4.41% | | | | | | | | |
Charles River Laboratories International (a) | | | 1,500 | | | | 302,730 | |
Laboratory Corp of America Holdings | | | 1,800 | | | | 412,956 | |
Medical-Health Maintenance Organization - 2.80% | | | | | | | | |
Molina Healthcare (a) | | | 1,700 | | | | 454,733 | |
CCM Small/Mid-Cap Impact Value Fund
Schedule of Investments March 31, 2023 (Unaudited)
| | Shares | | | Value | |
COMMON STOCK — continued |
Medical-Hospitals - 2.66% | | | | | | | | |
Nobilis Health (a) (b) | | | 38,393 | | | $ | — | |
Universal Health Services, Cl B | | | 3,400 | | | | 432,140 | |
| | | | | | | | 1,602,559 | |
Industrials - 15.91% | | | | | | | | |
Airport Develop/Maint - 2.76% | | | | | | | | |
Grupo Aeroportuario del Pacifico | | | 2,300 | | | | 448,753 | |
Building & Construction Products-Miscellaneous - 3.10% | | | | | | | | |
Owens Corning | | | 5,250 | | | | 502,950 | |
Commercial Services - 3.59% | | | | | | | | |
Quanta Services | | | 3,500 | | | | 583,240 | |
Diversified Manufact Op - 1.92% | | | | | | | | |
Parker-Hannifin | | | 925 | | | | 310,902 | |
Enterprise Software/Services - 1.74% | | | | | | | | |
SS&C Technologies Holdings | | | 5,000 | | | | 282,350 | |
Machinery-General Indust - 1.91% | | | | | | | | |
ATS (a) | | | 7,400 | | | | 309,853 | |
Machinery-Pumps - 0.89% | | | | | | | | |
Zurn Elkay Water Solutions | | | 6,800 | | | | 145,248 | |
| | | | | | | | 2,583,296 | |
Information Technology - 3.28% | | | | | | | | |
Electronic Parts Distributors - 3.28% | | | | | | | | |
TD SYNNEX | | | 5,500 | | | | 532,345 | |
Materials - 4.17% | | | | | | | | |
Containers-Paper/Plastic - 4.17% | | | | | | | | |
Berry Global Group | | | 11,500 | | | | 677,350 | |
Real Estate - 9.96% | | | | | | | | |
REITS-Diversified - 3.44% | | | | | | | | |
WP Carey | | | 7,200 | | | | 557,640 | |
REITS-Office Property - 3.85% | | | | | | | | |
Alexandria Real Estate Equities | | | 2,250 | | | | 282,577 | |
Highwoods Properties | | | 14,800 | | | | 343,212 | |
REITS-Single Tenant - 2.67% | | | | | | | | |
National Retail Properties | | | 9,800 | | | | 432,670 | |
| | | | | | | | 1,616,099 | |
Utilities - 8.84% | | | | | | | | |
Electric-Generation - 3.21% | | | | | | | | |
Clearway Energy, Cl A | | | 4,000 | | | | 120,120 | |
Clearway Energy, Cl C | | | 12,800 | | | | 401,024 | |
Electric-Integrated - 1.55% | | | | | | | | |
CMS Energy | | | 4,100 | | | | 251,658 | |
Energy-Alternate Sources - 4.08% | | | | | | | | |
NextEra Energy Partners | | | 10,900 | | | | 662,175 | |
| | | | | | | | 1,434,977 | |
TOTAL COMMON STOCK | | | | |
(Cost $15,139,771) | | | | | | | 15,537,558 | |
CCM Small/Mid-Cap Impact Value Fund
Schedule of Investments March 31, 2023 (Unaudited)
| | | Shares | | | Value | |
SHORT-TERM INVESTMENT - 4.35% | | | | | | | | |
Money Market Fund - 4.35% |
First American Government Obligations Fund, Cl X, 4.65%, (c) | | | 706,817 | | | $ | 706,817 | |
TOTAL SHORT-TERM INVESTMENT | | | | |
(Cost $706,817) | | | | | | | 706,817 | |
Total Investments (Cost $15,846,588) - 100.06% | | $ | 16,244,375 | |
Liabilities in Excess of Other Assets, Net - (0.06)% | | | (9,564 | ) |
NET ASSETS - 100.00% | | $ | 16,234,811 | |
(a) | Non-income producing security. |
(b) | Level 3 security in accordance with fair value hierarchy. |
(c) | The rate shown is the 7-day effective yield as of March 31, 2023. |
ADR — American Depositary Receipt |
Cl — Class |
REIT — Real Estate investment Trust |
