CCM Core Impact Equity Fund
Schedule of Investments September 30, 2023 (Unaudited)
| | | Shares | | | Value | |
COMMON STOCK - 96.42% |
Communication Services - 9.10% | | | | | | | | |
Internet Content-Entmnt - 2.23% | | | | | | | | |
Meta Platforms, Cl A (a) | | | 4,000 | | | $ | 1,200,840 | |
Web Portals/ISP - 6.87% | | | | | | | | |
Alphabet, Cl A (a) | | | 15,000 | | | | 1,962,900 | |
Alphabet, Cl C (a) | | | 13,100 | | | | 1,727,235 | |
| | | | | | | | 4,890,975 | |
| |
Consumer Discretionary - 8.27% | | | | | | | | |
Bldg-Residential/Commer - 2.73% | | | | | | | | |
Lennar, Cl B | | | 10,000 | | | | 1,022,300 | |
NVR (a) | | | 75 | | | | 447,247 | |
Retail-Automobile - 4.51% | | | | | | | | |
Asbury Automotive Group (a) | | | 5,400 | | | | 1,242,378 | |
Lithia Motors, Cl A | | | 4,000 | | | | 1,181,320 | |
Retail-Restaurants - 1.03% | | | | | | | | |
Jack in the Box | | | 8,000 | | | | 552,480 | |
| | | | | | | | 4,445,725 | |
| |
Consumer Staples - 5.63% | | | | | | | | |
Brewery - 1.03% | | | | | | | | |
Constellation Brands, Cl A | | | 2,200 | | | | 552,926 | |
Cosmetics&Toiletries - 2.08% | | | | | | | | |
Unilever PLC ADR | | | 22,700 | | | | 1,121,380 | |
Food-Confectionery - 2.52% | | | | | | | | |
Mondelez International, Cl A | | | 19,500 | | | | 1,353,300 | |
| | | | | | | | 3,027,606 | |
| |
Financials - 20.84% | | | | | | | | |
Commercial Serv-Finance - 6.41% | | | | | | | | |
FleetCor Technologies (a) | | | 6,000 | | | | 1,532,040 | |
Global Payments | | | 16,600 | | | | 1,915,474 | |
Diversified Banking Inst - 2.05% | | | | | | | | |
JPMorgan Chase | | | 7,600 | | | | 1,102,152 | |
Finance-Credit Card - 2.01% | | | | | | | | |
Discover Financial Services | | | 12,500 | | | | 1,082,875 | |
Insurance Brokers - 0.76% | | | | | | | | |
Willis Towers Watson | | | 1,950 | | | | 407,472 | |
Invest Mgmnt/Advis Serv - 5.53% | | | | | | | | |
Ameriprise Financial | | | 4,000 | | | | 1,318,720 | |
BlackRock, Cl A | | | 1,700 | | | | 1,099,033 | |
Raymond James Financial | | | 5,500 | | | | 552,365 | |
Property/Casualty Ins - 4.08% | | | | | | | | |
Assurant | | | 6,250 | | | | 897,375 | |
Berkshire Hathaway, Cl B (a) | | | 3,700 | | | | 1,296,110 | |
| | | | | | | | 11,203,616 | |
| |
Health Care - 15.97% | | | | | | | | |
Diagnostic Equipment - 1.41% | | | | | | | | |
Thermo Fisher Scientific | | | 1,500 | | | | 759,255 | |
Medical Instruments - 2.34% | | | | | | | | |
Boston Scientific (a) | | | 23,800 | | | | 1,256,640 | |
CCM Core Impact Equity Fund
Schedule of Investments September 30, 2023 (Unaudited)
| | Shares | | | Value | |
COMMON STOCK — continued |
Medical Labs&Testing Srv - 1.82% | | | | | | | | |
Charles River Laboratories International (a) | | | 5,000 | | | $ | 979,900 | |
Medical-HMO - 6.73% | | | | | | | | |
Elevance Health | | | 2,950 | | | | 1,284,489 | |
Humana | | | 3,000 | | | | 1,459,560 | |
Molina Healthcare (a) | | | 2,650 | | | | 868,909 | |
Medical-Hospitals - 1.80% | | | | | | | | |
Universal Health Services, Cl B | | | 7,700 | | | | 968,121 | |
Medical-Whsle Drug Dist - 1.87% | | | | | | | | |
Cencora, Cl A | | | 5,600 | | | | 1,007,832 | |
| | | | | | | | 8,584,706 | |
| |
Industrials - 9.77% | | | | | | | | |
Airport Develop/Maint - 1.56% | | | | | | | | |
Grupo Aeroportuario del Pacifico | | | 5,100 | | | | 838,287 | |
Bldg&Construct Prod-Misc - 1.93% | | | | | | | | |
Owens Corning | | | 7,600 | | | | 1,036,716 | |
Commercial Services - 3.59% | | | | | | | | |
Quanta Services | | | 10,300 | | | | 1,926,821 | |
Diversified Manufact Op - 2.17% | | | | | | | | |
Parker-Hannifin | | | 3,000 | | | | 1,168,560 | |
Machinery-Pumps - 0.52% | | | | | | | | |
Dover | | | 2,000 | | | | 279,020 | |
| | | | | | | | 5,249,404 | |
| |
Information Technology - 21.20% | | | | | | | | |
Applications Software - 8.95% | | | | | | | | |
Intuit | | | 2,400 | | | | 1,226,256 | |
Microsoft | | | 11,350 | | | | 3,583,763 | |
Electronic Compo-Semicon - 2.05% | | | | | | | | |
Broadcom | | | 1,330 | | | | 1,104,671 | |
Electronic Forms - 2.37% | | | | | | | | |
Adobe (a) | | | 2,500 | | | | 1,274,750 | |
Electronic Parts Distrib - 2.62% | | | | | | | | |
TD SYNNEX | | | 14,100 | | | | 1,408,026 | |
Energy-Alternate Sources - 1.00% | | | | | | | | |
Enphase Energy (a) | | | 4,452 | | | | 534,908 | |
Networking Products - 1.30% | | | | | | | | |
Arista Networks (a) | | | 3,800 | | | | 698,934 | |
Semicon Compo-Intg Circu - 2.91% | | | | | | | | |
Taiwan Semiconductor Manufacturing | | | 18,000 | | | | 1,564,200 | |
| | | | | | | | 11,395,508 | |
| |
Materials - 1.90% | | | | | | | | |
Containers-Paper/Plastic - 1.90% | | | | | | | | |
Berry Global Group | | | 16,500 | | | | 1,021,515 | |
| | | | | | | | | |
| |
Utilities - 3.74% | | | | | | | | |
Electric-Generation - 0.81% | | | | | | | | |
Brookfield Renewable Partners | | | 20,000 | | | | 434,800 | |
Electric-Integrated - 1.48% | | | | | | | | |
CMS Energy | | | 15,000 | | | | 796,650 | |
CCM Core Impact Equity Fund
Schedule of Investments September 30, 2023 (Unaudited)
| | Shares | | | Value | |
COMMON STOCK — continued |
Water - 1.45% | | | | | | | | |
Veolia Environnement | | | 54,000 | | | $ | 779,220 | |
| | | | | | | | 2,010,670 | |
| |
TOTAL COMMON STOCK | | | | |
(Cost $40,417,043) | | | | | | | 51,829,725 | |
| |
| | | | | | | | | |
ESCROW SHARES - 0.01% |
Industrials - 0.01% | | | | | | | | |
Airlines - 0.01% | | | | | | | | |
American Airlines Escrow (a) (b) | | | 218,835 | | | | 6,565 | |
| | | | | | | | | |
TOTAL ESCROW SHARES | | | | |
(Cost $24,535) | | | | | | | 6,565 | |
| |
| | | | | | | | | |
SHORT-TERM INVESTMENT - 3.63% |
Money Market Fund - 3.63% |
First American Government Obligations Fund, Cl X, 5.27%, (c) | | | 1,948,649 | | | | 1,948,649 | |
TOTAL SHORT-TERM INVESTMENT | | | | |
(Cost $1,948,649) | | | | | | | 1,948,649 | |
| |
Total Investments (Cost $42,390,227) - 100.06% | | $ | 53,784,939 | |
Liabilities in Excess of Other Assets, Net - (0.06)% | | | (32,277 | ) |
NET ASSETS - 100.00% | | $ | 53,752,662 | |
(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 September 30, 2023. |
ADR — American Depositary Receipt |
Cl — Class |
PLC — Public Limited Company |
CCM Small/Mid-Cap Impact Value Fund
Schedule of Investments September 30, 2023 (Unaudited)
| | | Shares | | | Value | |
COMMON STOCK - 94.93% |
Consumer Discretionary - 16.51% | | | | | | | | |
Bldg-Residential/Commer - 3.78% | | | | | | | | |
Lennar, Cl B | | | 2,650 | | | $ | 270,909 | |
NVR (a) | | | 40 | | | | 238,532 | |
Recreational Vehicles - 2.82% | | | | | | | | |
Brunswick | | | 4,800 | | | | 379,200 | |
Retail-Automobile - 6.99% | | | | | | | | |
Asbury Automotive Group (a) | | | 2,200 | | | | 506,154 | |
Lithia Motors, Cl A | | | 1,475 | | | | 435,612 | |
Retail-Restaurants - 2.92% | | | | | | | | |
Jack in the Box | | | 5,700 | | | | 393,642 | |
| | | | | | | | 2,224,049 | |
| |
Consumer Staples - 3.09% | | | | | | | | |
Beverages-Non-alcoholic - 3.09% | | | | | | | | |
Coca-Cola Femsa ADR | | | 5,300 | | | | 415,732 | |
| | | | | | | | | |
| |
Financials - 27.42% | | | | | | | | |
Commer Banks-Eastern US - 2.00% | | | | | | | | |
Financial Institutions | | | 16,000 | | | | 269,280 | |
Commer Banks-Southern US - 4.71% | | | | | | | | |
First Citizens BancShares, Cl A | | | 460 | | | | 634,846 | |
Commercial Serv-Finance - 4.17% | | | | | | | | |
FleetCor Technologies (a) | | | 2,200 | | | | 561,748 | |
Finance-Credit Card - 2.76% | | | | | | | | |
Discover Financial Services | | | 4,300 | | | | 372,509 | |
Invest Mgmnt/Advis Serv - 7.64% | | | | | | | | |
Ameriprise Financial | | | 1,600 | | | | 527,488 | |
Raymond James Financial | | | 5,000 | | | | 502,150 | |
Life/Health Insurance - 2.23% | | | | | | | | |
F&G Annuities & Life | | | 10,695 | | | | 300,102 | |
Property/Casualty Ins - 3.91% | | | | | | | | |
Assurant | | | 2,300 | | | | 330,234 | |
Fidelity National Financial | | | 4,750 | | | | 196,175 | |
| | | | | | | | 3,694,532 | |
| |
Health Care - 9.70% | | | | | | | | |
Medical Labs&Testing Srv - 3.49% | | | | | | | | |
Charles River Laboratories International (a) | | | 2,400 | | | | 470,352 | |
Medical-HMO - 4.62% | | | | | | | | |
Molina Healthcare (a) | | | 1,900 | | | | 622,991 | |
Medical-Hospitals - 1.59% | | | | | | | | |
Nobilis Health (a) (b) | | | 38,393 | | | | — | |
Universal Health Services, Cl B | | | 1,700 | | | | 213,741 | |
| | | | | | | | 1,307,084 | |
| |
Industrials - 20.27% | | | | | | | | |
Airport Develop/Maint - 3.66% | | | | | | | | |
Grupo Aeroportuario del Pacifico | | | 3,000 | | | | 493,110 | |
Bldg&Construct Prod-Misc - 3.90% | | | | | | | | |
Owens Corning | | | 3,850 | | | | 525,178 | |
CCM Small/Mid-Cap Impact Value Fund
Schedule of Investments September 30, 2023 (Unaudited)
| | Shares | | | Value | |
COMMON STOCK — continued |
Commercial Services - 4.23% | | | | | | | | |
Quanta Services | | | 3,050 | | | $ | 570,564 | |
Diversified Manufact Op - 1.81% | | | | | | | | |
Parker-Hannifin | | | 625 | | | | 243,450 | |
Machinery-Farm - 1.36% | | | | | | | | |
Toro | | | 2,200 | | | | 182,820 | |
Machinery-General Indust - 2.35% | | | | | | | | |
ATS (a) | | | 7,400 | | | | 316,908 | |
Machinery-Pumps - 2.96% | | | | | | | | |
Dover | | | 1,500 | | | | 209,265 | |
Zurn Elkay Water Solutions | | | 6,800 | | | | 190,536 | |
| | | | | | | | 2,731,831 | |
| |
Information Technology - 5.78% | | | | | | | | |
Electronic Parts Distrib - 4.44% | | | | | | | | |
TD SYNNEX | | | 6,000 | | | | 599,160 | |
Energy-Alternate Sources - 1.34% | | | | | | | | |
Enphase Energy (a) | | | 1,500 | | | | 180,225 | |
| | | | | | | | 779,385 | |
| |
Materials - 4.04% | | | | | | | | |
Containers-Paper/Plastic - 4.04% | | | | | | | | |
Berry Global Group | | | 8,800 | | | | 544,808 | |
| | | | | | | | | |
| |
Real Estate - 2.56% | | | | | | | | |
REITS-Diversified - 0.89% | | | | | | | | |
WP Carey | | | 2,200 | | | | 118,976 | |
REITS-Office Property - 1.67% | | | | | | | | |
Alexandria Real Estate Equities | | | 2,250 | | | | 225,225 | |
| | | | | | | | 344,201 | |
| |
Utilities - 5.56% | | | | | | | | |
Electric-Generation - 2.01% | | | | | | | | |
Clearway Energy, Cl C | | | 12,800 | | | | 270,848 | |
Electric-Integrated - 3.55% | | | | | | | | |
CMS Energy | | | 9,000 | | | | 477,990 | |
| | | | | | | | 748,838 | |
| |
TOTAL COMMON STOCK | | | | |
(Cost $11,286,352) | | | | | | | 12,790,460 | |
| |
| | | | | | | | | |
SHORT-TERM INVESTMENT - 5.09% |
Money Market Fund - 5.09% |
First American Government Obligations Fund, Cl X, 5.27%, (c) | | | 686,335 | | | | 686,335 | |
TOTAL SHORT-TERM INVESTMENT | | | | |
(Cost $686,335) | | | | | | | 686,335 | |
| |
Total Investments (Cost $11,972,687) - 100.02% | | $ | 13,476,795 | |
Liabilities in Excess of Other Assets, Net - (0.02)% | | | (2,974 | ) |
NET ASSETS - 100.00% | | $ | 13,473,821 | |
(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 September 30, 2023. |
CCM Small/Mid-Cap Impact Value Fund
Schedule of Investments September 30, 2023 (Unaudited)
ADR — American Depositary Receipt |
Cl — Class |
REIT — Real Estate investment Trust |
