Lord Asset Management Trust NPORT-P Thomas White American Opportunities Fund (Jul 2022 report)

Thomas White American Opportunities Fund
Investment Portfolio (Unaudited)	July 31, 2022

Industry			Issue	Shares		Value
COMMON STOCKS (89.1%)
AUTOMOBILES & COMPONENTS (1.1%)
			Ford Motor Co.	15,700	$	230,633
BANKS (3.2%)
			Citizens Financial Group, Inc.	6,600		250,602
			Regions Financial Corporation	20,990		444,568
						695,170
CAPITAL GOODS (9.1%)
			Carlisle Companies Incorporated	1,320		390,852
			Cummins, Inc.	1,040		230,162
			Otis Worldwide Corp.	2,170		169,629
			Parker-Hannifin Corporation	990		286,199
			Sensata Technologies Holding PLC ^	2,770		123,182
			The Middleby Corporation *	1,300		188,097
			Trane Technologies PLC ^	1,900		279,281
			W.W. Grainger, Inc.	520		282,636
						1,950,038
COMMERCIAL & PROFESSIONAL SERVICES (3.2%)
			Republic Services, Inc.	2,290		317,531
			TransUnion	2,290		181,437
			Verisk Analytics, Inc.	1,050		199,763
						698,731
CONSUMER DURABLES & APPAREL (2.4%)
			Brunswick Corporation	2,985		239,158
			Lennar Corporation - Class A	3,150		267,750
						506,908
CONSUMER SERVICES (4.2%)
			Darden Restaurants, Inc.	1,300		161,837
			Marriott International Inc. - Class A	1,990		316,052
			Service Corporation International	3,440		256,142
			Vail Resorts, Inc.	740		175,476
						909,507
DIVERSIFIED FINANCIALS (4.1%)
			Ameriprise Financial, Inc.	1,380		372,490
			S&P Global, Inc.	703		264,982
			State Street Corp.	3,430		243,667
						881,139
ENERGY (4.5%)
			Diamondback Energy, Inc.	2,760		353,335
			Marathon Petroleum Corp.	2,670		244,732
			Pioneer Natural Resources Co.	1,570		372,012
						970,079
FOOD, BEVERAGE & TOBACCO (2.0%)
			The Hershey Company	1,900		433,124
HEALTH CARE EQUIPMENT & SERVICES (8.4%)
			AmerisourceBergen Corp.	1,460		213,058
			Boston Scientific Corporation *	5,180		212,639
			Centene Corporation *	2,179		202,581
			Laboratory Corporation of America Holdings	1,205		315,939
			Molina Healthcare, Inc. *	740		242,513
			STERIS PLC ^	835		188,418
			Teleflex, Inc.	390		93,779
			The Cooper Companies, Inc.	440		143,880
			Zimmer Biomet Holdings, Inc.	1,810		199,806
						1,812,613
HOUSEHOLD & PERSONAL PRODUCTS (1.8%)
			Church & Dwight Co., Inc.	4,290		377,391
INSURANCE (5.2%)
			Arch Capital Group Ltd. *^	6,870		305,028
			Assurant, Inc.	1,810		318,162
			Everest Re Group Ltd. ^	1,040		271,804
			The Hartford Financial Services Group, Inc.	3,540		228,224
						1,123,218
MATERIALS (6.6%)
			Ball Corporation	2,940		215,855
			Corteva, Inc.	5,430		312,496
			Martin Marietta Materials, Inc.	830		292,226
			PPG Industries, Inc.	1,710		221,086
			Steel Dynamics, Inc.	4,810		374,603
						1,416,266
MEDIA & ENTERTAINMENT (1.3%)
			Match Group, Inc. *	1,810		132,691
			Twitter, Inc. *	3,410		141,890
						274,581
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES (3.4%)
			Agilent Technologies, Inc.	2,970		398,277
			Charles River Laboratories International, Inc. *	1,355		339,482
						737,759
RETAILING (3.2%)
			AutoZone, Inc. *	254		542,897
			Ross Stores, Inc.	1,720		139,767
						682,664
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (3.4%)
			KLA Corporation	1,210		464,084
			Lam Research Corporation	540		270,275
						734,359
SOFTWARE & SERVICES (9.7%)
			Akamai Technologies, Inc. *	2,330		224,193
			ANSYS, Inc. *	950		265,040
			Cadence Design Systems, Inc. *	2,285		425,193
			Fortinet, Inc. *	6,250		372,812
			Global Payments, Inc.	2,005		245,252
			Synopsys, Inc. *	1,520		558,600
						2,091,090
TECHNOLOGY HARDWARE & EQUIPMENT (4.8%)
			Arista Networks Inc. *	3,120		363,885
			Keysight Technologies, Inc. *	2,740		445,524
			Motorola Solutions, Inc.	940		224,275
						1,033,684
TRANSPORTATION (1.8%)
			GXO Logistics, Inc. *	2,210		106,080
			Old Dominion Freight Line, Inc.	915		277,712
						383,792
UTILITIES (5.7%)
			Alliant Energy Corporation	3,770		229,706
			Ameren Corporation	3,220		299,846
			CMS Energy Corporation	3,330		228,871
			DTE Energy Company	1,750		228,025
			Xcel Energy, Inc.	3,420		250,276
						1,236,724
Total Common Stocks				(Cost $11,673,728)		19,179,470
REAL ESTATE INVESTMENT TRUSTS (REITs) (8.4%)
REAL ESTATE (8.4%)
			AvalonBay Communities, Inc.	1,105		236,404
			Boston Properties, Inc.	1,585		144,489
			Digital Realty Trust, Inc.	1,330		176,158
			Duke Realty Corp.	7,950		497,352
			EastGroup Properties, Inc.	1,225		208,911
			Extra Space Storage, Inc.	1,400		265,328
			SBA Communications Corp.	825		277,027
						1,805,669
Total Real Estate Investment Trusts (REITs)				(Cost $1,576,102)		1,805,669
Total Investments		97.5%		(Cost $13,249,830)	$	20,985,139
Other Assets, Less Liabilities		2.5%				528,056
Total Net Assets:		100.0%			$	21,513,195
Percentages are stated as a percent of net assets.
PLC	Public Limited Company
*	Non-Income Producing Securities
^	Foreign Issued Securities
The industry classifications represented in the Schedule of Investments are in accordance with Global Industry Classification
Standards (GICS®), which was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC.

The following table summarizes the inputs used, as of July 31, 2022, in valuing the Fund's assets:

Securities listed or traded on a recognized national or foreign stock exchange or NASDAQ are valued at the last reported sales price on the principal exchange on which the securities are traded. NASDAQ National Market securities are valued at the NASDAQ official closing price. Over-the-counter securities and listed securities for which no closing sale price is reported are valued at the mean between the last current bid and ask price. Securities for which market quotations are not readily available are valued at fair value under the Trust's Valuation Procedures as determined by management and approved in good faith by the Board of Trustees. As of July 31, 2022, all securities within the Fund's portfolio were valued at the last reported sales price on the principal exchange on which the securities are traded and adjusted by a fair value factor when necessary and as further described below. The Trust has retained an independent statistical fair value pricing service to assist in the fair valuation process for securities principally traded in a foreign market in order to adjust for changes in value that may occur between the close of the foreign exchange and the time which Fund shares are priced. Short term investments are valued at original cost, which combined with accrued interest, approximates market value.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the "exit price") in an orderly transaction between market participants at the measurement date. In determining fair value, the Fund uses various valuation approaches. A three-tiered fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by generally requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund's assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The inputs or methodologies used for valuing securities are not necessarily an indication of the risks associated with investing in those securities.

The fair value hierarchy is categorized into three levels based on the inputs as follows:

Level 1 - Valuations based on unadjusted quoted prices in active markets for identical assets.

Level 2 - Valuations based on quoted prices for similar securities or in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

	Level 1		Level 2		Level 3		Total
Common Stocks
Automobiles & Components	$	230,633	$	–	$	–	$	230,633
Banks		695,170		–		–		695,170
Capital Goods		1,950,038		–		–		1,950,038
Commercial & Professional Services		698,731		–		–		698,731
Consumer Durables & Apparel		506,908		–		–		506,908
Consumer Services		909,507		–		–		909,507
Diversified Financials		881,139		–		–		881,139
Energy		970,079		–		–		970,079
Food, Beverage & Tobacco		433,124		–		–		433,124
Health Care Equipment & Services		1,812,613		–		–		1,812,613
Household & Personal Products		377,391		–		–		377,391
Insurance		1,123,218		–		–		1,123,218
Materials		1,416,266		–		–		1,416,266
Media & Entertainment		274,581		–		–		274,581
Pharmaceuticals, Biotechnology & Life Sciences		737,759		–		–		737,759
Retailing		682,664		–		–		682,664
Semiconductors & Semiconductor Equipment		734,359		–		–		734,359
Software & Services		2,091,090		–		–		2,091,090
Technology Hardware & Equipment		1,033,684		–		–		1,033,684
Transportation		383,792		–		–		383,792
Utilities		1,236,724		–		–		1,236,724
Total Common Stocks	$	19,179,470	$	–	$	–	$	19,179,470
REITs
Real Estate	$	1,805,669	$	–	$	–	$	1,805,669
Total REITs	$	1,805,669	$	–	$	–	$	1,805,669
Total Investments	$	20,985,139	$	–	$	–	$	20,985,139

There were no transfers into or out of Level 3 during the reporting period, as compared to their classification from the prior annual report.

Portfolio Industry Allocation and Market Capitalization as of July 31, 2022 (Unaudited)
Industry Allocation	% of TNA	Portfolio Market Cap Mix	% of TNA
Automobiles & Components	1.1%	Large Cap (over $46.4 billion)	18.3%
Banks	3.2%	Mid Cap ($3.6 - $46.4 billion)	79.2%
Capital Goods	9.1%	Cash & Other	2.5%
Commercial & Professional Services	3.2%
Consumer Durables & Apparel	2.4%	Total	100.0%
Consumer Services	4.2%
Diversified Financials	4.1%
Energy	4.5%
Food, Beverage & Tobacco	2.0%
Health Care Equipment & Services	8.4%
Household & Personal Products	1.8%
Insurance	5.2%
Materials	6.6%
Media & Entertainment	1.3%
Pharmaceuticals, Biotechnology & Life Sciences	3.4%
REITs	8.4%
Retailing	3.2%
Semiconductors & Semiconductor Equipment	3.4%
Software & Services	9.7%
Technology Hardware & Equipment	4.8%
Transportation	1.8%
Utilities	5.7%
Cash & Other	2.5%
Total	100.0%
TNA - Total Net Assets
Fund holdings and industry allocations are subject to change and should not be considered a recommendation to buy or sell any securities.  For a complete list of Fund holdings, please refer to the Investment Portfolio section of this report.