UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File Number 811-01597
Steward Funds, Inc.
(Exact name of registrant as specified in charter)
15375 Memorial Drive
Suite 200
Houston, Texas 77079
(Address of principal executive offices) (Zip code)
John Marten
Vedder Price P.C.
222 North LaSalle Street
Chicago, Illinois 60601
(Name and address of agent for service)
Registrant’s telephone number, including area code: (800) 262-6631
Date of fiscal year end: April 30
Date of reporting period: October 31, 2022
Item 1. Reports to Stockholders.
(a) | The following is a copy of the report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 (the “Act”) (17 CFR 270.30e-1): |
CROSSMARKGLOBAL.COM
October 31, 2022
STEWARD FUNDS
SEMI-ANNUAL STEWARD FUNDS REPORT
15375 Memorial Drive, Suite 200, Houston, TX 77079 800-262-6631 | crossmarkglobal.com/stewardfund s |
Industry Diversification | Percent* | |
Software | 7.3% | |
Semiconductors & Semiconductor Equipment | 6.2 | |
IT Services | 5.4 | |
Oil, Gas & Consumable Fuels | 5.0 | |
Interactive Media & Services | 4.7 | |
Technology Hardware, Storage & Peripherals | 4.7 | |
Electric Utilities | 4.6 | |
Banks | 4.5 | |
Biotechnology | 3.9 | |
Aerospace & Defense | 3.8 | |
Beverages | 3.7 | |
Capital Markets | 3.7 | |
Hotels, Restaurants & Leisure | 3.2 | |
Internet & Direct Marketing Retail | 3.2 | |
Automobiles | 2.8 | |
Food & Staples Retailing | 2.7 | |
Household Products | 2.6 | |
Health Care Equipment & Supplies | 2.5 | |
Industrial Conglomerates | 2.4 | |
Specialty Retail | 2.4 | |
Diversified Financial Services | 2.3 | |
Insurance | 1.9 |
Industry Diversification | Percent* | |
Chemicals | 1.8% | |
Pharmaceuticals | 1.8 | |
Equity Real Estate Investment Trusts | 1.6 | |
Communications Equipment | 1.3 | |
Life Sciences Tools & Services | 1.3 | |
Wireless Telecommunication Services | 1.3 | |
Air Freight & Logistics | 1.2 | |
Diversified Telecommunication Services | 1.2 | |
Entertainment | 1.2 | |
Consumer Finance | 1.1 | |
Food Products | 1.1 | |
Health Care Providers & Services | 1.0 | |
Media | 1.0 | |
Road & Rail | 1.0 | |
Electrical Equipment | 0.9 | |
Machinery | 0.9 | |
Money Market Fund | 0.9 | |
Textiles, Apparel & Luxury Goods | 0.8 | |
Multiline Retail | 0.5 | |
Total Investments | 105.4% |
* | Percentages indicated are based on net assets as of October 31, 2022. |
Shares | Value | ||
COMMON STOCKS (104.5%) | |||
AEROSPACE & DEFENSE (3.8%) | |||
Boeing Co. (The)(a) | 1,200 | $ 171,012 | |
General Dynamics Corp. | 1,700 | 424,660 | |
Lockheed Martin Corp. | 700 | 340,676 | |
Raytheon Technologies Corp. | 4,099 | 388,667 | |
1,325,015 | |||
AIR FREIGHT & LOGISTICS (1.2%) | |||
FedEx Corp. | 900 | 144,252 | |
United Parcel Service, Inc., Class B | 1,600 | 268,432 | |
412,684 | |||
AUTOMOBILES (2.8%) | |||
Ford Motor Co. | 7,400 | 98,938 | |
General Motors Co. | 3,700 | 145,225 | |
Tesla, Inc.(a) | 3,200 | 728,128 | |
972,291 | |||
BANKS (4.5%) | |||
Bank of America Corp. | 11,400 | 410,856 | |
Citigroup, Inc. | 3,300 | 151,338 | |
JPMorgan Chase & Co. | 4,300 | 541,284 | |
U.S. Bancorp | 5,100 | 216,495 | |
Wells Fargo & Co. | 5,700 | 262,143 | |
1,582,116 | |||
BEVERAGES (3.7%) | |||
Coca-Cola Co. (The) | 10,800 | 646,380 | |
PepsiCo, Inc. | 3,600 | 653,688 | |
1,300,068 | |||
BIOTECHNOLOGY (3.9%) | |||
AbbVie, Inc. | 3,200 | 468,480 | |
Amgen, Inc. | 1,900 | 513,665 | |
Gilead Sciences, Inc. | 4,700 | 368,762 | |
1,350,907 | |||
CAPITAL MARKETS (3.7%) | |||
Bank of New York Mellon Corp. (The) | 3,700 | 155,807 | |
BlackRock, Inc. | 500 | 322,955 | |
Charles Schwab Corp. (The) | 3,200 | 254,944 | |
Goldman Sachs Group, Inc. (The) | 900 | 310,059 | |
Morgan Stanley | 3,100 | 254,727 | |
1,298,492 |
Shares | Value | ||
CHEMICALS (1.8%) | |||
Dow, Inc. | 4,200 | $ 196,308 | |
Linde PLC | 1,500 | 446,025 | |
642,333 | |||
COMMUNICATIONS EQUIPMENT (1.3%) | |||
Cisco Systems, Inc. | 9,600 | 436,128 | |
CONSUMER FINANCE (1.1%) | |||
American Express Co. | 1,400 | 207,830 | |
Capital One Financial Corp. | 1,600 | 169,632 | |
377,462 | |||
DIVERSIFIED FINANCIAL SERVICES (2.3%) | |||
Berkshire Hathaway, Inc., Class B(a) | 2,700 | 796,743 | |
DIVERSIFIED TELECOMMUNICATION SERVICES (1.2%) | |||
AT&T, Inc. | 8,700 | 158,601 | |
Verizon Communications, Inc. | 6,800 | 254,116 | |
412,717 | |||
ELECTRIC UTILITIES (4.6%) | |||
Duke Energy Corp. | 4,500 | 419,310 | |
Exelon Corp. | 7,000 | 270,130 | |
NextEra Energy, Inc. | 4,700 | 364,250 | |
Southern Co. (The) | 8,400 | 550,032 | |
1,603,722 | |||
ELECTRICAL EQUIPMENT (0.9%) | |||
Emerson Electric Co. | 3,600 | 311,760 | |
ENTERTAINMENT (1.2%) | |||
Netflix, Inc.†(a) | 300 | 87,564 | |
Walt Disney Co. (The)(a) | 3,100 | 330,274 | |
417,838 | |||
EQUITY REAL ESTATE INVESTMENT TRUSTS (1.6%) | |||
American Tower Corp. | 1,500 | 310,785 | |
Simon Property Group, Inc. | 2,300 | 250,654 | |
561,439 | |||
FOOD & STAPLES RETAILING (2.7%) | |||
Costco Wholesale Corp. | 1,000 | 501,500 | |
Walgreens Boots Alliance, Inc. | 1,700 | 62,050 | |
Walmart, Inc. | 2,700 | 384,291 | |
947,841 |
Shares | Value | ||
FOOD PRODUCTS (1.1%) | |||
Kraft Heinz Co. (The) | 2,100 | $ 80,787 | |
Mondelez International, Inc., Class A | 5,100 | 313,548 | |
394,335 | |||
HEALTH CARE EQUIPMENT & SUPPLIES (2.5%) | |||
Abbott Laboratories | 4,800 | 474,912 | |
Medtronic PLC | 4,600 | 401,764 | |
876,676 | |||
HEALTH CARE PROVIDERS & SERVICES (1.0%) | |||
CVS Health Corp. | 3,700 | 350,390 | |
HOTELS, RESTAURANTS & LEISURE (3.2%) | |||
Booking Holdings, Inc.(a) | 100 | 186,948 | |
McDonald's Corp. | 2,000 | 545,320 | |
Starbucks Corp. | 4,300 | 372,337 | |
1,104,605 | |||
HOUSEHOLD PRODUCTS (2.6%) | |||
Colgate-Palmolive Co. | 4,100 | 302,744 | |
Procter & Gamble Co. (The) | 4,600 | 619,482 | |
922,226 | |||
INDUSTRIAL CONGLOMERATES (2.4%) | |||
3M Co. | 2,700 | 339,633 | |
Honeywell International, Inc. | 2,400 | 489,648 | |
829,281 | |||
INSURANCE (1.9%) | |||
American International Group, Inc. | 3,900 | 222,300 | |
MetLife, Inc. | 5,800 | 424,618 | |
646,918 | |||
INTERACTIVE MEDIA & SERVICES (4.7%) | |||
Alphabet, Inc., Class A(a) | 7,700 | 727,727 | |
Alphabet, Inc., Class C†(a) | 6,600 | 624,756 | |
Meta Platforms, Inc., Class A(a) | 2,900 | 270,164 | |
1,622,647 | |||
INTERNET & DIRECT MARKETING RETAIL (3.2%) | |||
Amazon.com, Inc.(a) | 11,000 | 1,126,840 | |
IT SERVICES (5.4%) | |||
Accenture PLC, Class A | 1,600 | 454,240 | |
International Business Machines Corp. | 1,900 | 262,751 | |
Mastercard, Inc., Class A | 1,300 | 426,634 |
Shares | Value | ||
PayPal Holdings, Inc.(a) | 2,300 | $ 192,234 | |
Visa, Inc., Class A | 2,600 | 538,616 | |
1,874,475 | |||
LIFE SCIENCES TOOLS & SERVICES (1.3%) | |||
Danaher Corp. | 1,800 | 453,006 | |
MACHINERY (0.9%) | |||
Caterpillar, Inc. | 1,500 | 324,690 | |
MEDIA (1.0%) | |||
Charter Communications, Inc., Class A(a) | 400 | 147,048 | |
Comcast Corp., Class A | 6,800 | 215,832 | |
362,880 | |||
MULTILINE RETAIL (0.5%) | |||
Target Corp. | 1,100 | 180,675 | |
OIL, GAS & CONSUMABLE FUELS (5.0%) | |||
Chevron Corp. | 3,000 | 542,700 | |
ConocoPhillips | 3,500 | 441,315 | |
Exxon Mobil Corp. | 7,000 | 775,670 | |
1,759,685 | |||
PHARMACEUTICALS (1.8%) | |||
Eli Lilly & Co. | 1,700 | 615,553 | |
ROAD & RAIL (1.0%) | |||
Union Pacific Corp. | 1,700 | 335,138 | |
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (6.2%) | |||
Advanced Micro Devices, Inc.(a) | 3,400 | 204,204 | |
Broadcom, Inc. | 1,000 | 470,120 | |
Intel Corp. | 6,200 | 176,266 | |
NVIDIA Corp. | 4,200 | 566,874 | |
QUALCOMM, Inc. | 2,300 | 270,618 | |
Texas Instruments, Inc. | 2,900 | 465,827 | |
2,153,909 | |||
SOFTWARE (7.3%) | |||
Adobe, Inc.(a) | 1,300 | 414,050 | |
Microsoft Corp. | 6,400 | 1,485,632 | |
Oracle Corp. | 3,100 | 242,017 | |
Salesforce, Inc.(a) | 2,400 | 390,216 | |
2,531,915 |
Shares | Value | ||
SPECIALTY RETAIL (2.4%) | |||
Home Depot, Inc. (The) | 1,700 | $ 503,421 | |
Lowe’s Cos., Inc. | 1,800 | 350,910 | |
854,331 | |||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS (4.7%) | |||
Apple, Inc. | 10,800 | 1,656,072 | |
TEXTILES, APPAREL & LUXURY GOODS (0.8%) | |||
NIKE, Inc., Class B | 3,000 | 278,040 | |
WIRELESS TELECOMMUNICATION SERVICES (1.3%) | |||
T-Mobile U.S., Inc.(a) | 2,900 | 439,524 | |
TOTAL COMMON STOCKS (COST $39,800,510) | 36,443,367 | ||
MONEY MARKET FUND (0.9%) | |||
Northern Institutional Treasury Portfolio (Premier Class), 2.48%(b) | 305,282 | 305,282 | |
TOTAL MONEY MARKET FUND (COST $305,282) | 305,282 | ||
TOTAL INVESTMENTS (COST $40,105,792) 105.4% | 36,748,649 | ||
Value | ||
WRITTEN CALL OPTIONS -5.5% (PREMIUMS RECEIVED $(835,885)) | $ (1,905,805) | |
OTHER ASSETS IN EXCESS OF LIABILITIES 0.1% | 29,646 | |
NET ASSETS 100.0% | $ 34,872,490 | |
Securities in this Fund are pledged as collateral for call options written. |
† | Security is not pledged as collateral for call options written. |
(a) | Represents non-income producing security. |
(b) | 7-day current yield as of October 31, 2022 is disclosed. |
PLC — Public Limited Company |
Description | Type | Number of Contracts | Notional Amount* | Exercise Price | Expiration Date | Value | ||||||
3M Co. | Call | 25 | $ (287,500) | $ 115.00 | 1/20/23 | $ (33,575) | ||||||
Abbott Laboratories | Call | 40 | (420,000) | 105.00 | 2/17/23 | (13,760) | ||||||
AbbVie, Inc. | Call | 25 | (362,500) | 145.00 | 11/18/22 | (10,750) | ||||||
Accenture PLC, Class A | Call | 15 | (390,000) | 260.00 | 11/18/22 | (38,925) | ||||||
Adobe, Inc. | Call | 10 | (310,000) | 310.00 | 12/16/22 | (25,350) | ||||||
Advanced Micro Devices, Inc. | Call | 25 | (162,500) | 65.00 | 12/16/22 | (8,125) | ||||||
Alphabet, Inc., Class A | Call | 50 | (525,000) | 105.00 | 1/20/23 | (11,800) | ||||||
Amazon.com, Inc. | Call | 100 | (1,120,000) | 112.00 | 11/18/22 | (24,800) | ||||||
American Express Co. | Call | 10 | (150,000) | 150.00 | 11/18/22 | (4,180) | ||||||
American International Group, Inc. | Call | 30 | (157,500) | 52.50 | 11/18/22 | (15,600) | ||||||
American Tower Corp. | Call | 10 | (210,000) | 210.00 | 12/16/22 | (9,100) | ||||||
Amgen, Inc. | Call | 15 | (360,000) | 240.00 | 11/18/22 | (46,912) | ||||||
Apple, Inc. | Call | 95 | (1,675,000) | 325.00 | 11/18/22 | (10,870) | ||||||
AT&T, Inc. | Call | 80 | (128,000) | 16.00 | 1/20/23 | (20,320) | ||||||
Bank of America Corp. | Call | 115 | (372,500) | 67.00 | 1/20/23 | (55,500) | ||||||
Bank of New York Mellon Corp. (The) | Call | 25 | (100,000) | 40.00 | 12/16/22 | (8,250) | ||||||
Berkshire Hathaway, Inc., Class B | Call | 20 | (570,000) | 285.00 | 12/16/22 | (35,450) | ||||||
BlackRock, Inc. | Call | 4 | (236,000) | 590.00 | 11/18/22 | (24,980) | ||||||
Boeing Co. (The) | Call | 8 | (112,000) | 140.00 | 11/18/22 | (6,200) | ||||||
Booking Holdings, Inc. | Call | 1 | (210,000) | 2,100.00 | 12/16/22 | (3,655) | ||||||
Broadcom, Inc. | Call | 7 | (322,000) | 460.00 | 11/18/22 | (14,707) | ||||||
Capital One Financial Corp. | Call | 10 | (100,000) | 100.00 | 12/16/22 | (9,550) | ||||||
Caterpillar, Inc. | Call | 10 | (185,000) | 185.00 | 12/16/22 | (34,350) | ||||||
Charles Schwab Corp. (The) | Call | 25 | (193,750) | 77.50 | 1/20/23 | (16,925) | ||||||
Charter Communications, Inc., Class A | Call | 3 | (99,000) | 330.00 | 12/16/22 | (14,160) | ||||||
Chevron Corp. | Call | 25 | (400,000) | 160.00 | 12/16/22 | (57,625) | ||||||
Cisco Systems, Inc. | Call | 80 | (360,000) | 45.00 | 1/20/23 | (22,920) | ||||||
Citigroup, Inc. | Call | 30 | (142,500) | 47.50 | 1/20/23 | (6,180) | ||||||
Coca-Cola Co. (The) | Call | 90 | (517,500) | 57.50 | 12/16/22 | (30,150) | ||||||
Colgate-Palmolive Co. | Call | 35 | (262,500) | 75.00 | 2/17/23 | (12,600) | ||||||
Comcast Corp., Class A | Call | 60 | (195,000) | 32.50 | 1/20/23 | (10,020) | ||||||
ConocoPhillips | Call | 25 | (287,500) | 115.00 | 1/20/23 | (40,562) | ||||||
Costco Wholesale Corp. | Call | 8 | (392,000) | 490.00 | 12/16/22 | (24,260) | ||||||
CVS Health Corp. | Call | 35 | (323,750) | 92.50 | 11/18/22 | (14,875) | ||||||
Danaher Corp. | Call | 15 | (405,000) | 270.00 | 12/16/22 | (5,850) | ||||||
Dow, Inc. | Call | 35 | (175,000) | 50.00 | 1/20/23 | (4,620) | ||||||
Duke Energy Corp. | Call | 40 | (380,000) | 95.00 | 1/20/23 | (12,880) | ||||||
Eli Lilly & Co. | Call | 10 | (330,000) | 330.00 | 12/16/22 | (39,650) | ||||||
Emerson Electric Co. | Call | 30 | (240,000) | 80.00 | 12/16/22 | (23,250) | ||||||
Exelon Corp. | Call | 60 | (240,000) | 40.00 | 1/20/23 | (8,700) | ||||||
Exxon Mobil Corp. | Call | 60 | (540,000) | 90.00 | 11/18/22 | (125,700) | ||||||
FedEx Corp. | Call | 7 | (112,000) | 160.00 | 12/16/22 | (5,810) | ||||||
Ford Motor Co. | Call | 60 | (78,000) | 13.00 | 12/16/22 | (6,000) | ||||||
General Dynamics Corp. | Call | 10 | (230,000) | 230.00 | 11/18/22 | (21,600) | ||||||
General Motors Co. | Call | 30 | (105,000) | 35.00 | 12/16/22 | (15,900) |
Description | Type | Number of Contracts | Notional Amount* | Exercise Price | Expiration Date | Value | ||||||
Gilead Sciences, Inc. | Call | 35 | $ (227,500) | $ 65.00 | 11/18/22 | $ (47,880) | ||||||
Goldman Sachs Group, Inc. (The) | Call | 5 | (162,500) | 325.00 | 12/16/22 | (13,450) | ||||||
Home Depot, Inc. (The) | Call | 15 | (450,000) | 300.00 | 12/16/22 | (17,175) | ||||||
Honeywell International, Inc. | Call | 20 | (350,000) | 175.00 | 12/16/22 | (60,100) | ||||||
Intel Corp. | Call | 50 | (137,500) | 27.50 | 1/20/23 | (12,400) | ||||||
International Business Machines Corp. | Call | 10 | (130,000) | 130.00 | 1/20/23 | (10,850) | ||||||
JPMorgan Chase & Co. | Call | 40 | (460,000) | 115.00 | 12/16/22 | (53,200) | ||||||
Kraft Heinz Co. (The) | Call | 10 | (35,000) | 35.00 | 1/20/23 | (4,125) | ||||||
Linde PLC | Call | 10 | (300,000) | 300.00 | 1/20/23 | (15,300) | ||||||
Lockheed Martin Corp. | Call | 5 | (210,000) | 420.00 | 11/18/22 | (33,985) | ||||||
Lowe’s Cos., Inc. | Call | 14 | (280,000) | 200.00 | 11/18/22 | (7,630) | ||||||
Mastercard, Inc., Class A | Call | 10 | (300,000) | 300.00 | 11/18/22 | (30,750) | ||||||
McDonald's Corp. | Call | 15 | (375,000) | 250.00 | 12/16/22 | (37,290) | ||||||
Medtronic PLC | Call | 40 | (340,000) | 85.00 | 12/16/22 | (21,400) | ||||||
Meta Platforms, Inc., Class A | Call | 25 | (287,500) | 115.00 | 12/16/22 | (3,000) | ||||||
MetLife, Inc. | Call | 55 | (357,500) | 65.00 | 1/20/23 | (53,350) | ||||||
Microsoft Corp. | Call | 55 | (1,347,500) | 245.00 | 12/16/22 | (29,645) | ||||||
Mondelez International, Inc., Class A | Call | 45 | (258,750) | 57.50 | 12/16/22 | (22,725) | ||||||
Morgan Stanley | Call | 25 | (212,500) | 85.00 | 1/20/23 | (10,125) | ||||||
NextEra Energy, Inc. | Call | 40 | (320,000) | 80.00 | 12/16/22 | (8,900) | ||||||
NIKE, Inc., Class B | Call | 25 | (225,000) | 90.00 | 12/16/22 | (16,050) | ||||||
NVIDIA Corp. | Call | 35 | (455,000) | 130.00 | 11/18/22 | (39,113) | ||||||
Oracle Corp. | Call | 25 | (162,500) | 65.00 | 12/16/22 | (35,000) | ||||||
PayPal Holdings, Inc. | Call | 15 | (150,000) | 100.00 | 1/20/23 | (4,950) | ||||||
PepsiCo, Inc. | Call | 30 | (510,000) | 170.00 | 1/20/23 | (45,225) | ||||||
Procter & Gamble Co. (The) | Call | 40 | (540,000) | 135.00 | 1/20/23 | (24,400) | ||||||
QUALCOMM, Inc. | Call | 20 | (250,000) | 125.00 | 11/18/22 | (6,600) | ||||||
Raytheon Technologies Corp. | Call | 35 | (332,500) | 95.00 | 1/20/23 | (17,150) | ||||||
Salesforce, Inc. | Call | 20 | (300,000) | 150.00 | 11/18/22 | (29,400) | ||||||
Simon Property Group, Inc. | Call | 15 | (157,500) | 105.00 | 1/20/23 | (13,538) | ||||||
Southern Co. (The) | Call | 75 | (525,000) | 70.00 | 2/17/23 | (12,375) | ||||||
Starbucks Corp. | Call | 35 | (323,750) | 92.50 | 1/20/23 | (10,763) | ||||||
Target Corp. | Call | 10 | (165,000) | 165.00 | 1/20/23 | (12,100) | ||||||
Tesla, Inc. | Call | 25 | (575,000) | 230.00 | 11/18/22 | (26,750) | ||||||
Texas Instruments, Inc. | Call | 25 | (400,000) | 160.00 | 11/18/22 | (13,375) | ||||||
T-Mobile U.S., Inc. | Call | 25 | (362,500) | 145.00 | 1/20/23 | (30,600) | ||||||
U.S. Bancorp | Call | 45 | (191,250) | 42.50 | 1/20/23 | (10,575) | ||||||
Union Pacific Corp. | Call | 10 | (210,000) | 210.00 | 1/20/23 | (5,400) | ||||||
United Parcel Service, Inc., Class B | Call | 10 | (170,000) | 170.00 | 12/16/22 | (5,675) | ||||||
Verizon Communications, Inc. | Call | 50 | (200,000) | 40.00 | 1/20/23 | (3,200) | ||||||
Visa, Inc., Class A | Call | 20 | (400,000) | 200.00 | 12/16/22 | (26,150) | ||||||
Walmart, Inc. | Call | 20 | (280,000) | 140.00 | 12/16/22 | (13,700) | ||||||
Walt Disney Co. (The) | Call | 25 | (262,500) | 105.00 | 11/18/22 | (13,500) |
Description | Type | Number of Contracts | Notional Amount* | Exercise Price | Expiration Date | Value | ||||||
Wells Fargo & Co. | Call | 45 | $ (213,750) | $ 47.50 | 1/20/23 | $ (9,990) | ||||||
Total (Premiums received $835,885) | $(1,905,805) |
* | Notional amount is expressed as the number of contracts multiplied by the strike price multiplied by 100. |
The table below sets forth the diversification of the Steward Equity Market Neutral Fund investments by Industry.
Industry Diversification | Percent ^,* | |
Money Market Fund | 80.8% | |
Health Care Providers & Services | 5.2 | |
Consumer Finance | 2.6 | |
Technology Hardware, Storage & Peripherals | 2.5 | |
Multiline Retail | 2.0 | |
Equity Real Estate Investment Trusts | 1.9 | |
Software | 1.9 | |
Biotechnology | 1.6 | |
Real Estate Management & Development | 1.6 | |
Specialty Retail | 1.6 | |
IT Services | 1.5 | |
Building Products | 1.4 | |
Automobiles | 1.2 | |
Food & Staples Retailing | 1.2 | |
Air Freight & Logistics | 1.1 | |
Food Products | 0.9 | |
Professional Services | 0.9 | |
Diversified Consumer Services | 0.8 | |
Household Durables | 0.8 | |
Semiconductors & Semiconductor Equipment | 0.8 | |
Distributors | 0.7 | |
Insurance | 0.7 | |
Leisure Products | 0.7 | |
Auto Components | 0.5 | |
Banks | 0.5 | |
Construction & Engineering | 0.5 | |
Road & Rail | 0.3 | |
Communications Equipment | 0.2 | |
Diversified Telecommunication Services | 0.2 | |
Commercial Services & Supplies | 0.0** |
Industry Diversification | Percent ^,* | |
Containers & Packaging | 0.0**% | |
Electronic Equipment, Instruments & Components | 0.0** | |
Multi-Utilities | 0.0** | |
Water Utilities | (0.2) | |
Entertainment | (0.3) | |
Pharmaceuticals | (0.3) | |
Textiles, Apparel & Luxury Goods | (0.3) | |
Capital Markets | (0.4) | |
Internet & Direct Marketing Retail | (0.4) | |
Media | (0.4) | |
Machinery | (0.5) | |
Electric Utilities | (0.7) | |
Gas Utilities | (0.7) | |
Oil, Gas & Consumable Fuels | (0.7) | |
Beverages | (0.8) | |
Thrifts & Mortgage Finance | (0.9) | |
Electrical Equipment | (1.0) | |
Health Care Technology | (1.0) | |
Household Products | (1.0) | |
Metals & Mining | (1.0) | |
Interactive Media & Services | (1.1) | |
Aerospace & Defense | (1.3) | |
Airlines | (1.7) | |
Health Care Equipment & Supplies | (1.7) | |
Chemicals | (1.9) | |
Hotels, Restaurants & Leisure | (2.8) | |
Total Investments | 95.5% |
^ | Percentages indicated are net of Common Stocks and Common Stocks Sold Short. |
* | Percentages indicated are based on net assets as of October 31, 2022. |
** | Amount rounds to less than 0.1%. |
Shares | Value | ||
COMMON STOCKS (55.6%) | |||
AEROSPACE & DEFENSE (0.6%) | |||
Huntington Ingalls Industries, Inc. | 200 | $ 51,414 | |
Lockheed Martin Corp. | 800 | 389,344 | |
440,758 | |||
AIR FREIGHT & LOGISTICS (1.1%) | |||
C.H. Robinson Worldwide, Inc.(a) | 4,000 | 390,880 | |
Expeditors International of Washington, Inc.(a) | 3,600 | 352,260 | |
743,140 | |||
AUTO COMPONENTS (0.5%) | |||
BorgWarner, Inc.(a) | 9,700 | 364,041 | |
AUTOMOBILES (1.2%) | |||
Harley-Davidson, Inc.(a) | 19,700 | 847,100 | |
BANKS (0.9%) | |||
Regions Financial Corp.(a) | 28,900 | 634,355 | |
BIOTECHNOLOGY (2.1%) | |||
Biogen, Inc.(a)(b) | 2,300 | 651,912 | |
Gilead Sciences, Inc.(a) | 10,200 | 800,292 | |
1,452,204 | |||
BUILDING PRODUCTS (1.4%) | |||
Carrier Global Corp. | 9,700 | 385,672 | |
Owens Corning(a) | 7,200 | 616,392 | |
1,002,064 | |||
CAPITAL MARKETS (1.2%) | |||
Ameriprise Financial, Inc.(a) | 2,200 | 680,064 | |
Bank of New York Mellon Corp. (The)(a) | 3,100 | 130,541 | |
810,605 | |||
COMMERCIAL SERVICES & SUPPLIES (0.6%) | |||
Waste Management, Inc.(a) | 2,700 | 427,599 | |
COMMUNICATIONS EQUIPMENT (0.3%) | |||
Lumentum Holdings, Inc.(a)(b) | 3,200 | 238,240 | |
CONSTRUCTION & ENGINEERING (0.5%) | |||
AECOM | 5,000 | 376,400 | |
CONSUMER FINANCE (2.7%) | |||
American Express Co.(a) | 4,300 | 638,335 | |
Discover Financial Services(a) | 5,900 | 616,314 | |
Synchrony Financial(a) | 18,200 | 647,192 | |
1,901,841 |
Shares | Value | ||
CONTAINERS & PACKAGING (0.3%) | |||
Berry Global Group, Inc.(b) | 1,200 | $ 56,784 | |
Westrock Co. | 5,200 | 177,112 | |
233,896 | |||
DISTRIBUTORS (0.7%) | |||
Genuine Parts Co.(a) | 2,700 | 480,222 | |
DIVERSIFIED CONSUMER SERVICES (1.8%) | |||
Grand Canyon Education, Inc.(a)(b) | 7,300 | 734,599 | |
H&R Block, Inc. | 13,100 | 539,065 | |
1,273,664 | |||
DIVERSIFIED TELECOMMUNICATION SERVICES (0.2%) | |||
Lumen Technologies, Inc.(a) | 22,100 | 162,656 | |
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS (0.3%) | |||
Jabil, Inc.(a) | 3,500 | 224,875 | |
EQUITY REAL ESTATE INVESTMENT TRUSTS (1.9%) | |||
American Tower Corp. | 2,000 | 414,380 | |
Brixmor Property Group, Inc.(a) | 11,100 | 236,541 | |
Iron Mountain, Inc.(a) | 4,600 | 230,322 | |
SBA Communications Corp. | 600 | 161,940 | |
Weyerhaeuser Co.(a) | 10,100 | 312,393 | |
1,355,576 | |||
FOOD & STAPLES RETAILING (1.2%) | |||
Kroger Co. (The)(a) | 18,100 | 855,949 | |
FOOD PRODUCTS (1.2%) | |||
General Mills, Inc.(a) | 10,500 | 856,590 | |
HEALTH CARE EQUIPMENT & SUPPLIES (0.6%) | |||
Hologic, Inc.(a)(b) | 6,300 | 427,140 | |
HEALTH CARE PROVIDERS & SERVICES (6.4%) | |||
AmerisourceBergen Corp.(a) | 3,400 | 534,548 | |
Cardinal Health, Inc.(a) | 10,700 | 812,130 | |
Cigna Corp.(a) | 2,500 | 807,650 | |
CVS Health Corp.(a) | 3,000 | 284,100 | |
Elevance Health, Inc.(a) | 1,600 | 874,832 | |
Henry Schein, Inc.(a)(b) | 5,800 | 397,068 | |
Laboratory Corporation of America Holdings(a) | 1,100 | 244,046 | |
McKesson Corp.(a) | 700 | 272,559 | |
Quest Diagnostics, Inc.(a) | 1,600 | 229,840 | |
4,456,773 |
Shares | Value | ||
HOUSEHOLD DURABLES (0.8%) | |||
Leggett & Platt, Inc. | 16,100 | $ 543,375 | |
INSURANCE (1.6%) | |||
Aflac, Inc.(a) | 7,400 | 481,814 | |
Hartford Financial Services Group, Inc. (The)(a) | 4,000 | 289,640 | |
MetLife, Inc.(a) | 4,300 | 314,803 | |
1,086,257 | |||
IT SERVICES (5.0%) | |||
Automatic Data Processing, Inc. | 1,700 | 410,890 | |
Gartner, Inc.(a)(b) | 1,300 | 392,496 | |
GoDaddy, Inc., Class A(b) | 5,100 | 410,040 | |
Mastercard, Inc., Class A(a) | 2,000 | 656,360 | |
Paychex, Inc.(a) | 2,100 | 248,451 | |
Visa, Inc., Class A(a) | 2,900 | 600,764 | |
Western Union Co. (The)(a) | 59,500 | 803,845 | |
3,522,846 | |||
LEISURE PRODUCTS (0.7%) | |||
Mattel, Inc.(b) | 25,000 | 474,000 | |
MEDIA (0.6%) | |||
Interpublic Group of Cos., Inc. (The)(a) | 14,200 | 423,018 | |
MULTILINE RETAIL (2.0%) | |||
Macy's, Inc. | 35,800 | 746,430 | |
Nordstrom, Inc. | 33,100 | 673,254 | |
1,419,684 | |||
OIL, GAS & CONSUMABLE FUELS (0.8%) | |||
ConocoPhillips | 1,300 | 163,917 | |
Kinder Morgan, Inc.(a) | 13,700 | 248,244 | |
Phillips 66(a) | 1,500 | 156,435 | |
568,596 | |||
PROFESSIONAL SERVICES (1.3%) | |||
Booz Allen Hamilton Holding Corp. | 6,100 | 663,985 | |
ManpowerGroup, Inc.(a) | 3,100 | 242,854 | |
906,839 | |||
REAL ESTATE MANAGEMENT & DEVELOPMENT (1.6%) | |||
CBRE Group, Inc., Class A(a)(b) | 11,700 | 829,998 | |
Jones Lang LaSalle, Inc.(a)(b) | 1,900 | 302,271 | |
1,132,269 | |||
ROAD & RAIL (1.3%) | |||
CSX Corp.(a) | 12,500 | 363,250 |
Shares | Value | ||
Landstar System, Inc.(a) | 3,300 | $ 515,526 | |
Ryder System, Inc. | 200 | 16,102 | |
894,878 | |||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (2.1%) | |||
Applied Materials, Inc. | 6,100 | 538,569 | |
Cirrus Logic, Inc.(b) | 7,300 | 489,976 | |
Intel Corp.(a) | 6,000 | 170,580 | |
QUALCOMM, Inc.(a) | 2,300 | 270,618 | |
1,469,743 | |||
SOFTWARE (5.3%) | |||
Cadence Design Systems, Inc.(a)(b) | 5,300 | 802,367 | |
Dolby Laboratories, Inc., Class A(a) | 5,400 | 360,936 | |
Dropbox, Inc., Class A(a)(b) | 26,200 | 569,850 | |
NortonLifeLock, Inc.(a) | 24,300 | 547,479 | |
Synopsys, Inc.(a)(b) | 1,600 | 468,080 | |
Teradata Corp.(a)(b) | 16,700 | 527,553 | |
VMware, Inc., Class A(a) | 3,800 | 427,614 | |
3,703,879 | |||
SPECIALTY RETAIL (2.3%) | |||
Best Buy Co., Inc. | 3,600 | 246,276 | |
Home Depot, Inc. (The)(a) | 1,000 | 296,130 | |
Lowe’s Cos., Inc.(a) | 2,900 | 565,355 | |
Ulta Beauty, Inc.(a)(b) | 1,200 | 503,244 | |
1,611,005 | |||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS (2.5%) | |||
Dell Technologies, Inc., Class C(a) | 5,800 | 222,720 | |
Hewlett Packard Enterprise Co.(a) | 14,200 | 202,634 | |
HP, Inc. | 30,300 | 836,886 | |
NetApp, Inc.(a) | 4,000 | 277,080 | |
Xerox Holdings Corp.(a) | 13,900 | 203,357 | |
1,742,677 | |||
TOTAL COMMON STOCKS (COST $39,290,284) | 39,064,754 | ||
MONEY MARKET FUND (80.8%) | |||
Northern Institutional Treasury Portfolio (Premier Class), 2.48%(c) | 56,790,338 | 56,790,338 | |
TOTAL MONEY MARKET FUND (COST $56,790,338) | 56,790,338 | ||
TOTAL INVESTMENTS (COST $96,080,622) 136.4% | 95,855,092 | ||
Shares | Value | ||
COMMON STOCKS SOLD SHORT ((40.9)%) | |||
AEROSPACE & DEFENSE (1.9%) | |||
Boeing Co. (The) (b) | (2,900) | $ (413,279) | |
Huntington Ingalls Industries, Inc. | (200) | (51,414) | |
Mercury Systems, Inc. (b) | (3,800) | (183,920) | |
Spirit AeroSystems Holdings, Inc., Class A | (30,400) | (704,064) | |
(1,352,677) | |||
AIRLINES (1.7%) | |||
American Airlines Group, Inc. (b) | (33,200) | (470,776) | |
JetBlue Airways Corp. (b) | (37,800) | (303,912) | |
United Airlines Holdings, Inc. (b) | (9,600) | (413,568) | |
(1,188,256) | |||
BANKS (0.4%) | |||
Signature Bank | (1,900) | (301,207) | |
BEVERAGES (0.8%) | |||
Boston Beer Co., Inc. (The), Class A(b) | (1,600) | (597,264) | |
BIOTECHNOLOGY (0.5%) | |||
Alnylam Pharmaceuticals, Inc.(b) | (1,700) | (352,342) | |
CAPITAL MARKETS (1.6%) | |||
Blackstone, Inc. | (500) | (45,570) | |
Blue Owl Capital, Inc. | (69,600) | (697,392) | |
KKR & Co., Inc. | (7,200) | (350,136) | |
(1,093,098) | |||
CHEMICALS (1.9%) | |||
Albemarle Corp. | (900) | (251,883) | |
Diversey Holdings Ltd. (b) | (26,500) | (143,100) | |
RPM International, Inc. | (4,200) | (397,194) | |
Scotts Miracle-Gro Co. (The) | (11,400) | (523,374) | |
(1,315,551) | |||
COMMERCIAL SERVICES & SUPPLIES (0.6%) | |||
Stericycle, Inc.(b) | (9,100) | (405,678) | |
COMMUNICATIONS EQUIPMENT (0.1%) | |||
ViaSat, Inc.(b) | (2,200) | (90,112) | |
CONSUMER FINANCE (0.1%) | |||
Upstart Holdings, Inc.(b) | (1,700) | (39,406) | |
CONTAINERS & PACKAGING (0.3%) | |||
Westrock Co. | (5,200) | (177,112) | |
DIVERSIFIED CONSUMER SERVICES (1.0%) | |||
Mister Car Wash, Inc.(b) | (79,900) | (705,517) |
Shares | Value | ||
ELECTRIC UTILITIES (0.7%) | |||
Constellation Energy Corp. | (5,100) | $ (482,154) | |
ELECTRICAL EQUIPMENT (1.0%) | |||
Generac Holdings, Inc. (b) | (600) | (69,546) | |
Plug Power, Inc. (b) | (7,900) | (126,242) | |
Shoals Technologies Group, Inc., Class A (b) | (12,400) | (286,564) | |
Vertiv Holdings Co. | (13,100) | (187,461) | |
(669,813) | |||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS (0.3%) | |||
Teledyne Technologies, Inc.(b) | (500) | (198,990) | |
ENTERTAINMENT (0.3%) | |||
Roku, Inc. (b) | (1,400) | (77,756) | |
Warner Bros Discovery, Inc. (b) | (10,900) | (141,700) | |
(219,456) | |||
FOOD PRODUCTS (0.3%) | |||
Seaboard Corp. | (50) | (187,319) | |
GAS UTILITIES (0.7%) | |||
Atmos Energy Corp. | (4,400) | (468,820) | |
HEALTH CARE EQUIPMENT & SUPPLIES (2.3%) | |||
Enovis Corp. (b) | (6,200) | (306,590) | |
Masimo Corp. (b) | (3,800) | (500,080) | |
Novocure Ltd. (b) | (700) | (49,462) | |
STERIS PLC | (1,100) | (189,838) | |
Stryker Corp. | (1,800) | (412,632) | |
Zimmer Holdings, Inc. | (1,700) | (192,695) | |
(1,651,297) | |||
HEALTH CARE PROVIDERS & SERVICES (1.2%) | |||
agilon health, Inc. (b) | (16,700) | (331,495) | |
Guardant Health, Inc. (b) | (3,400) | (168,300) | |
Oak Street Health, Inc. (b) | (18,500) | (374,255) | |
(874,050) | |||
HEALTH CARE TECHNOLOGY (1.0%) | |||
Certara, Inc.(b) | (58,500) | (715,455) | |
HOTELS, RESTAURANTS & LEISURE (2.8%) | |||
Domino's Pizza, Inc. | (900) | (299,016) | |
DraftKings, Inc., Class A (b) | (3,800) | (60,040) | |
Las Vegas Sands Corp. (b) | (3,900) | (148,239) | |
Norwegian Cruise Line Holdings Ltd. (b) | (13,900) | (234,771) | |
Penn Entertainment, Inc. (b) | (7,200) | (238,320) | |
Royal Caribbean Cruises Ltd. (b) | (3,000) | (160,140) |
Shares | Value | ||
Six Flags Entertainment Corp. (b) | (16,900) | $ (376,870) | |
Wynn Resorts Ltd. (b) | (7,400) | (472,860) | |
(1,990,256) | |||
HOUSEHOLD PRODUCTS (1.0%) | |||
Spectrum Brands Holdings, Inc. | (15,500) | (715,170) | |
INSURANCE (0.9%) | |||
GoHealth, Inc., Class A (b) | (74,400) | (34,224) | |
Kemper Corp. | (10,100) | (481,467) | |
RenaissanceRe Holdings Ltd. | (600) | (92,808) | |
(608,499) | |||
INTERACTIVE MEDIA & SERVICES (1.1%) | |||
IAC, Inc. (b) | (14,500) | (705,860) | |
Vimeo, Inc. (b) | (16,700) | (63,460) | |
(769,320) | |||
INTERNET & DIRECT MARKETING RETAIL (0.4%) | |||
Amazon.com, Inc. (b) | (1,000) | (102,440) | |
Wayfair, Inc., Class A (b) | (3,800) | (144,096) | |
(246,536) | |||
IT SERVICES (3.5%) | |||
Cloudflare, Inc., Class A (b) | (8,600) | (484,352) | |
Fastly, Inc., Class A (b) | (5,800) | (49,242) | |
Kyndryl Holdings, Inc. (b) | (32,100) | (310,407) | |
MongoDB, Inc. (b) | (3,800) | (695,514) | |
Sabre Corp. (b) | (30,400) | (176,624) | |
Shift4 Payments, Inc., Class A (b) | (5,100) | (234,447) | |
Toast, Inc., Class A (b) | (24,200) | (534,578) | |
(2,485,164) | |||
LEISURE PRODUCTS ((0.0)%) | |||
Peloton Interactive, Inc., Class A(b) | (2,300) | (19,320) | |
MACHINERY (0.5%) | |||
Graco, Inc. | (4,900) | (340,942) | |
MEDIA (1.0%) | |||
Liberty Broadband Corp., Class A(b) | (8,200) | (699,624) | |
METALS & MINING (1.0%) | |||
MP Materials Corp.(b) | (23,300) | (699,932) | |
MULTI-UTILITIES ((0.0)%) | |||
Dominion Energy, Inc. | (500) | (34,985) |
Shares | Value | ||
OIL, GAS & CONSUMABLE FUELS (1.5%) | |||
Enviva, Inc. | (5,600) | $ (335,104) | |
New Fortress Energy, Inc. | (12,900) | (710,403) | |
(1,045,507) | |||
PHARMACEUTICALS (0.3%) | |||
Catalent, Inc.(b) | (2,700) | (177,471) | |
PROFESSIONAL SERVICES (0.4%) | |||
Dun & Bradstreet Holdings, Inc. | (21,400) | (274,990) | |
ROAD & RAIL (1.0%) | |||
Lyft, Inc., Class A(b) | (48,500) | (710,040) | |
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (1.3%) | |||
Enphase Energy, Inc. (b) | (1,200) | (368,400) | |
Entegris, Inc. | (2,000) | (158,680) | |
Monolithic Power Systems, Inc. | (500) | (169,725) | |
Wolfspeed, Inc. (b) | (2,600) | (204,750) | |
(901,555) | |||
SOFTWARE (3.4%) | |||
Alteryx, Inc., Class A (b) | (3,900) | (190,047) | |
AppLovin Corp., Class A (b) | (40,500) | (686,880) | |
C3.ai, Inc., Class A (b) | (10,700) | (140,277) | |
Duck Creek Technologies, Inc. (b) | (9,400) | (112,236) | |
Everbridge, Inc. (b) | (2,500) | (78,325) | |
Five9, Inc. (b) | (1,600) | (96,416) | |
Palantir Technologies, Inc., Class A (b) | (81,500) | (716,385) | |
Pegasystems, Inc. | (2,000) | (74,420) | |
Unity Software, Inc. (b) | (9,900) | (292,050) | |
(2,387,036) | |||
SPECIALTY RETAIL (0.7%) | |||
Floor & Decor Holdings, Inc. (b) | (1,700) | (124,729) | |
GameStop Corp., Class A (b) | (5,600) | (158,536) | |
Petco Health & Wellness Co., Inc. (b) | (21,800) | (229,554) | |
(512,819) | |||
TEXTILES, APPAREL & LUXURY GOODS (0.3%) | |||
Skechers USA, Inc., Class A(b) | (6,200) | (213,466) | |
THRIFTS & MORTGAGE FINANCE (0.9%) | |||
Rocket Cos., Inc., Class A | (25,800) | (178,020) |
Shares | Value | ||
TFS Financial Corp. | (21,400) | $ (300,670) | |
UWM Holdings Corp. | (55,800) | (183,024) | |
(661,714) | |||
WATER UTILITIES (0.2%) | |||
American Water Works Co., Inc. | (1,200) | (174,408) | |
TOTAL COMMON STOCKS SOLD SHORT (COST $(33,992,927)) | (28,754,328) | ||
TOTAL SECURITIES SOLD SHORT (PROCEEDS $(33,992,927)) (40.9)% | (28,754,328) |
Shares | Value | ||
OTHER ASSETS IN EXCESS OF LIABILITIES 4.5% | $ 3,188,471 | ||
NET ASSETS 100.0% | $ 70,289,235 | ||
(a) | All or portion of the shares have been pledged as collateral for open short positions. |
(b) | Represents non-income producing security. |
(c) | 7-day current yield as of October 31, 2022 is disclosed. |
PLC — Public Limited Company |
The table below sets forth the diversification of the Steward Global Equity Income Fund investments by Country.
Country Diversification | Percent* | |
United States | 61.8% | |
Canada | 17.0 | |
Switzerland | 4.0 | |
Taiwan | 3.7 | |
Brazil | 3.3 | |
Japan | 2.9 | |
Republic of Korea (South) | 1.6 | |
Germany | 1.5 | |
Ireland (Republic of) | 1.4 | |
United Kingdom | 1.4 | |
Sweden | 1.1 | |
Total Investments | 99.7% |
* | Percentages indicated are based on net assets as of October 31, 2022. |
Shares | Value | ||
COMMON STOCKS (96.3%) | |||
AEROSPACE & DEFENSE (1.3%) | |||
General Dynamics Corp. | 15,250 | $ 3,809,450 | |
AIR FREIGHT & LOGISTICS (1.8%) | |||
C.H. Robinson Worldwide, Inc. | 54,540 | 5,329,649 | |
BANKS (9.7%) | |||
Bank of Nova Scotia (The) | 62,540 | 3,021,933 | |
Canadian Imperial Bank of Commerce | 80,130 | 3,638,703 | |
KB Financial Group, Inc., ADR | 134,310 | 4,504,757 | |
Mizuho Financial Group, Inc., ADR | 1,885,340 | 4,072,334 | |
NatWest Group PLC, Sponsored ADR | 758,250 | 4,109,715 | |
Royal Bank of Canada | 41,080 | 3,798,668 | |
Toronto-Dominion Bank (The) | 79,420 | 5,082,086 | |
28,228,196 | |||
BEVERAGES (2.0%) | |||
Coca-Cola Co. (The) | 97,170 | 5,815,625 | |
BIOTECHNOLOGY (2.0%) | |||
AbbVie, Inc. | 39,140 | 5,730,096 | |
CAPITAL MARKETS (1.5%) | |||
Nomura Holdings, Inc., Sponsored ADR | 1,353,980 | 4,413,975 | |
CHEMICALS (1.1%) | |||
Air Products and Chemicals, Inc. | 12,810 | 3,207,624 | |
COMMUNICATIONS EQUIPMENT (2.7%) | |||
Cisco Systems, Inc. | 100,920 | 4,584,795 | |
Telefonaktiebolaget LM Ericsson, Sponsored ADR | 562,780 | 3,134,685 | |
7,719,480 | |||
DIVERSIFIED TELECOMMUNICATION SERVICES (1.7%) | |||
Verizon Communications, Inc. | 131,000 | 4,895,470 | |
ELECTRIC UTILITIES (2.0%) | |||
Entergy Corp. | 29,910 | 3,204,557 | |
Portland General Electric Co. | 57,690 | 2,592,589 | |
5,797,146 | |||
ELECTRICAL EQUIPMENT (1.7%) | |||
ABB Ltd., Sponsored ADR | 176,350 | 4,909,584 | |
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS (1.4%) | |||
Avnet, Inc. | 98,090 | 3,942,237 |
Shares | Value | ||
EQUITY REAL ESTATE INVESTMENT TRUSTS (2.8%) | |||
Granite Real Estate Investment Trust | 74,330 | $ 3,790,087 | |
Iron Mountain, Inc. | 86,300 | 4,321,041 | |
8,111,128 | |||
FOOD PRODUCTS (3.3%) | |||
General Mills, Inc. | 46,160 | 3,765,733 | |
Kellogg Co. | 75,860 | 5,827,565 | |
9,593,298 | |||
HEALTH CARE EQUIPMENT & SUPPLIES (4.5%) | |||
Abbott Laboratories | 47,520 | 4,701,629 | |
Becton Dickinson and Co. | 17,420 | 4,110,597 | |
Medtronic PLC | 47,700 | 4,166,118 | |
12,978,344 | |||
HEALTH CARE PROVIDERS & SERVICES (8.7%) | |||
Cigna Corp. | 31,630 | 10,218,388 | |
CVS Health Corp. | 57,710 | 5,465,137 | |
Quest Diagnostics, Inc. | 45,020 | 6,467,123 | |
U.S. Physical Therapy, Inc. | 33,320 | 2,958,816 | |
25,109,464 | |||
HOTELS, RESTAURANTS & LEISURE (3.0%) | |||
McDonald's Corp. | 32,310 | 8,809,645 | |
HOUSEHOLD DURABLES (1.6%) | |||
Garmin Ltd. | 32,250 | 2,839,290 | |
Leggett & Platt, Inc. | 53,210 | 1,795,838 | |
4,635,128 | |||
HOUSEHOLD PRODUCTS (1.8%) | |||
Kimberly-Clark Corp. | 41,270 | 5,136,464 | |
INSURANCE (1.3%) | |||
Sun Life Financial, Inc. | 90,480 | 3,840,876 | |
IT SERVICES (6.4%) | |||
Amdocs Ltd. | 53,060 | 4,579,609 | |
Broadridge Financial Solutions, Inc. | 27,700 | 4,156,662 | |
Cognizant Technology Solutions Corp., Class A | 54,410 | 3,387,022 | |
Paychex, Inc. | 54,740 | 6,476,289 | |
18,599,582 | |||
MACHINERY (1.5%) | |||
Snap-on, Inc. | 19,050 | 4,230,053 |
Shares | Value | ||
MEDIA (2.8%) | |||
Nexstar Media Group, Inc. | 27,300 | $ 4,676,490 | |
Omnicom Group, Inc. | 48,330 | 3,516,007 | |
8,192,497 | |||
METALS & MINING (3.0%) | |||
Pan American Silver Corp. | 185,130 | 2,958,378 | |
Ternium SA, Sponsored ADR | 82,280 | 2,368,841 | |
Yamana Gold, Inc. | 750,750 | 3,288,285 | |
8,615,504 | |||
OIL, GAS & CONSUMABLE FUELS (5.8%) | |||
Canadian Natural Resources, Ltd. | 96,520 | 5,785,409 | |
Petroleo Brasileiro SA, Sponsored ADR | 457,840 | 5,869,508 | |
Suncor Energy, Inc. | 151,110 | 5,196,673 | |
16,851,590 | |||
PROFESSIONAL SERVICES (1.9%) | |||
Thomson Reuters Corp. | 51,090 | 5,429,845 | |
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (8.2%) | |||
ASE Industrial Holding Co. Ltd., ADR | 769,880 | 3,918,689 | |
Intel Corp. | 94,060 | 2,674,126 | |
QUALCOMM, Inc. | 30,690 | 3,610,985 | |
Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR | 61,630 | 3,793,327 | |
Texas Instruments, Inc. | 41,760 | 6,707,909 | |
United Microelectronics Corp., Sponsored ADR(a) | 507,980 | 3,012,321 | |
23,717,357 | |||
SOFTWARE (2.6%) | |||
Open Text Corp. | 116,180 | 3,363,411 | |
SAP SE, Sponsored ADR | 44,280 | 4,253,537 | |
7,616,948 | |||
SPECIALTY RETAIL (4.9%) | |||
Advance Auto Parts, Inc. | 22,200 | 4,216,224 | |
Best Buy Co., Inc. | 22,620 | 1,547,434 |
Shares | Value | ||
Home Depot, Inc. (The) | 14,270 | $ 4,225,775 | |
Williams-Sonoma, Inc. | 33,160 | 4,106,203 | |
14,095,636 | |||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS (3.3%) | |||
HP, Inc. | 198,670 | 5,487,265 | |
Logitech International SA | 79,390 | 3,940,920 | |
9,428,185 | |||
TOTAL COMMON STOCKS (COST $284,898,022) | 278,790,076 | ||
MONEY MARKET FUND (2.1%) | |||
Northern Institutional Treasury Portfolio (Premier Class), 2.48%(b) | 6,085,786 | 6,085,786 | |
TOTAL MONEY MARKET FUND (COST $6,085,786) | 6,085,786 | ||
PREFERRED STOCKS (1.3%) | |||
ELECTRIC UTILITIES (1.3%) | |||
Cia Energetica de Minas Gerais, Sponsored ADR, 1.99%(c) | 1,728,190 | 3,784,736 | |
TOTAL PREFERRED STOCKS (COST $3,313,815) | 3,784,736 | ||
TOTAL INVESTMENTS (COST $294,297,623) 99.7% | 288,660,598 | ||
OTHER ASSETS IN EXCESS OF LIABILITIES 0.3% | 731,626 | ||
NET ASSETS 100.0% | $ 289,392,224 | ||
(a) | Represents non-income producing security. |
(b) | 7-day current yield as of October 31, 2022 is disclosed. |
(c) | Current yield is disclosed. Dividends are calculated based on a percentage of the issuer’s net income. |
ADR — American Depositary Receipt |
PLC — Public Limited Company |
The table below sets forth the diversification of the Steward International Enhanced Index Fund investments by Country.
Country Diversification | Percent* | |
Canada | 28.8% | |
United Kingdom | 15.3 | |
United States | 7.7 | |
Taiwan | 7.6 | |
Netherlands | 6.6 | |
Japan | 5.0 | |
Brazil | 4.1 | |
India | 3.8 | |
Switzerland | 3.0 | |
France | 2.5 | |
Germany | 2.3 | |
Mexico | 1.9 | |
Australia | 1.9 | |
Republic of Korea (South) | 1.5 | |
Spain | 1.4 | |
Ireland (Republic of) | 0.9 | |
Norway | 0.7 | |
Denmark | 0.7 | |
Jersey | 0.6 | |
Chile | 0.6 | |
Italy | 0.5 | |
South Africa | 0.4 | |
Finland | 0.4 | |
Indonesia | 0.4 | |
Sweden | 0.3 | |
Colombia | 0.1 | |
Total Investments | 99.0% |
* | Percentages indicated are based on net assets as of October 31, 2022. |
Shares | Value | ||
COMMON STOCKS (96.5%) | |||
AEROSPACE & DEFENSE (0.1%) | |||
CAE, Inc.(a) | 7,590 | $ 144,893 | |
AIR FREIGHT & LOGISTICS (0.1%) | |||
ZTO Express Cayman, Inc., ADR | 15,190 | 256,559 | |
AIRLINES (0.1%) | |||
Ryanair Holdings PLC, Sponsored ADR(a) | 3,288 | 226,510 | |
AUTO COMPONENTS (0.2%) | |||
Magna International, Inc., ADR | 7,930 | 441,939 | |
AUTOMOBILES (2.1%) | |||
Ferrari N.V. | 5,300 | 1,042,881 | |
Honda Motor Co. Ltd., Sponsored ADR | 58,160 | 1,327,211 | |
NIO, Inc., ADR(a) | 27,140 | 262,444 | |
Stellantis N.V. | 65,150 | 880,828 | |
Tata Motors Ltd., Sponsored ADR(a) | 12,770 | 319,378 | |
3,832,742 | |||
BANKS (17.3%) | |||
Banco Bilbao Vizcaya Argentaria SA, Sponsored ADR | 165,860 | 854,179 | |
Banco de Chile, ADR | 14,359 | 258,319 | |
Banco Santander Chile, ADR | 6,164 | 88,947 | |
Banco Santander SA, Sponsored ADR | 411,595 | 1,074,263 | |
Bank of Montreal | 22,840 | 2,103,107 | |
Bank of Nova Scotia (The) | 43,570 | 2,105,302 | |
Barclays PLC, Sponsored ADR | 97,189 | 672,548 | |
Canadian Imperial Bank of Commerce | 33,940 | 1,541,215 | |
HDFC Bank Ltd., ADR | 38,000 | 2,367,780 | |
HSBC Holdings PLC, Sponsored ADR | 115,181 | 2,984,340 | |
ICICI Bank Ltd., Sponsored ADR | 75,280 | 1,659,171 | |
ING Groep N.V., Sponsored ADR | 103,570 | 1,017,057 | |
KB Financial Group, Inc., ADR | 23,160 | 776,786 | |
Lloyds Banking Group PLC, ADR | 425,905 | 813,479 | |
Mitsubishi UFJ Financial Group, Inc., Sponsored ADR | 320,870 | 1,511,298 | |
Mizuho Financial Group, Inc., ADR | 315,100 | 680,616 | |
NatWest Group PLC, Sponsored ADR | 97,900 | 530,618 | |
Royal Bank of Canada | 46,850 | 4,332,220 | |
Shinhan Financial Group Co. Ltd., ADR | 31,210 | 789,301 | |
Sumitomo Mitsui Financial Group, Inc., Sponsored ADR | 182,750 | 1,023,400 | |
Toronto-Dominion Bank (The) | 57,560 | 3,683,264 | |
Woori Financial Group, Inc., Sponsored ADR | 5,880 | 146,412 | |
31,013,622 |
Shares | Value | ||
BEVERAGES (0.7%) | |||
Fomento Economico Mexicano SAB de CV, Sponsored ADR | 16,380 | $ 1,173,136 | |
BIOTECHNOLOGY (1.3%) | |||
Argenx SE, ADR(a) | 2,390 | 927,153 | |
BeiGene Ltd., ADR(a) | 1,910 | 322,580 | |
Genmab A/S, Sponsored ADR(a) | 30,130 | 1,160,306 | |
2,410,039 | |||
CAPITAL MARKETS (1.5%) | |||
Credit Suisse Group, Sponsored ADR | 60,759 | 250,327 | |
Deutsche Bank AG | 52,930 | 507,069 | |
Nomura Holdings, Inc., Sponsored ADR | 85,620 | 279,121 | |
UBS Group AG | 104,010 | 1,649,599 | |
2,686,116 | |||
CHEMICALS (0.9%) | |||
Nutrien Ltd. | 15,553 | 1,314,228 | |
Sasol Ltd., Sponsored ADR | 16,360 | 275,339 | |
1,589,567 | |||
COMMERCIAL SERVICES & SUPPLIES (1.2%) | |||
Waste Connections, Inc. | 16,550 | 2,183,111 | |
COMMUNICATIONS EQUIPMENT (0.8%) | |||
Nokia Oyj, Sponsored ADR | 167,640 | 737,616 | |
Telefonaktiebolaget LM Ericsson, Sponsored ADR | 110,090 | 613,201 | |
1,350,817 | |||
CONSTRUCTION MATERIALS (0.8%) | |||
CEMEX SAB de CV, Sponsored ADR(a) | 55,045 | 212,474 | |
CRH PLC, Sponsored ADR | 24,910 | 901,991 | |
James Hardie Industries PLC, Sponsored ADR | 17,870 | 393,855 | |
1,508,320 | |||
DIVERSIFIED FINANCIAL SERVICES (0.4%) | |||
ORIX Corp., Sponsored ADR | 9,140 | 669,322 | |
DIVERSIFIED TELECOMMUNICATION SERVICES (4.2%) | |||
BCE, Inc. | 49,835 | 2,247,559 | |
Chunghwa Telecom Co. Ltd., Sponsored ADR | 45,575 | 1,568,236 | |
Orange SA, Sponsored ADR | 84,440 | 803,869 | |
Sitios Latinoamerica SAB de CV(a) | 74,410 | 21,707 | |
Telefonica SA, Sponsored ADR(a) | 169,980 | 586,431 | |
Telkom Indonesia Persero Tbk PT, ADR | 25,420 | 707,184 | |
TELUS Corp. | 76,570 | 1,599,547 | |
7,534,533 |
Shares | Value | ||
ELECTRIC UTILITIES (1.2%) | |||
Centrais Eletricas Brasileiras SA, Sponsored ADR | 31,720 | $ 303,561 | |
Fortis, Inc. | 44,240 | 1,725,360 | |
Korea Electric Power Corp., Sponsored ADR(a) | 12,820 | 75,253 | |
2,104,174 | |||
ELECTRICAL EQUIPMENT (0.9%) | |||
ABB Ltd., Sponsored ADR | 57,540 | 1,601,913 | |
Accelleron Industries AG(a) | 2,544 | 42,994 | |
1,644,907 | |||
ENTERTAINMENT (0.7%) | |||
Bilibili, Inc., Sponsored ADR(a) | 3,180 | 28,366 | |
NetEase, Inc., ADR | 20,845 | 1,159,399 | |
1,187,765 | |||
FOOD PRODUCTS (0.0%) | |||
BRF SA, ADR(a) | 30,790 | 73,896 | |
HEALTH CARE EQUIPMENT & SUPPLIES (1.5%) | |||
Alcon, Inc. | 24,130 | 1,464,209 | |
Koninklijke Philips N.V., Sponsored NYS | 34,065 | 430,922 | |
Smith & Nephew PLC, Sponsored ADR | 29,670 | 714,750 | |
2,609,881 | |||
HEALTH CARE PROVIDERS & SERVICES (0.2%) | |||
Fresenius Medical Care AG & Co. KGaA, ADR | 21,400 | 296,818 | |
HOTELS, RESTAURANTS & LEISURE (0.9%) | |||
H World Group Ltd., ADR | 2,240 | 60,659 | |
InterContinental Hotels Group PLC, ADR | 7,013 | 384,593 | |
Restaurant Brands International, Inc. | 14,555 | 864,276 | |
Trip.com Group Ltd., ADR(a) | 11,000 | 248,930 | |
1,558,458 | |||
HOUSEHOLD DURABLES (1.4%) | |||
Sony Group Corp., Sponsored ADR | 37,690 | 2,542,944 | |
INSURANCE (2.0%) | |||
Aegon N.V., Sponsored NYS | 40,717 | 187,705 | |
Manulife Financial Corp. | 80,270 | 1,328,469 | |
Prudential PLC, ADR | 39,070 | 734,516 | |
Sun Life Financial, Inc. | 32,870 | 1,395,331 | |
3,646,021 |
Shares | Value | ||
INTERACTIVE MEDIA & SERVICES (0.6%) | |||
Baidu, Inc., Sponsored ADR(a) | 14,513 | $ 1,111,260 | |
INTERNET & DIRECT MARKETING RETAIL (4.9%) | |||
Alibaba Group Holding Ltd., Sponsored ADR(a) | 96,810 | 6,155,180 | |
JD.com, Inc., ADR | 55,770 | 2,079,663 | |
Pinduoduo, Inc., ADR(a) | 10,860 | 595,454 | |
8,830,297 | |||
IT SERVICES (2.5%) | |||
CGI, Inc.(a) | 15,000 | 1,207,050 | |
Infosys Ltd., Sponsored ADR | 110,150 | 2,063,110 | |
Pagseguro Digital Ltd., Class A(a) | 3,280 | 44,870 | |
Shopify, Inc., Class A(a) | 26,270 | 899,222 | |
Wipro Ltd., ADR | 71,143 | 334,372 | |
4,548,624 | |||
LIFE SCIENCES TOOLS & SERVICES (0.7%) | |||
QIAGEN N.V.(a) | 27,734 | 1,208,093 | |
MACHINERY (0.2%) | |||
CNH Industrial N.V. | 29,960 | 387,682 | |
MEDIA (0.9%) | |||
Grupo Televisa SAB, Sponsored ADR | 23,020 | 120,855 | |
Pearson PLC, Sponsored ADR | 31,390 | 349,057 | |
Shaw Communications, Inc., Class B | 31,330 | 804,868 | |
WPP PLC, Sponsored ADR | 7,710 | 339,240 | |
1,614,020 | |||
METALS & MINING (7.2%) | |||
Agnico Eagle Mines Ltd. | 13,968 | 614,033 | |
AngloGold Ashanti Ltd., Sponsored ADR | 12,980 | 169,389 | |
ArcelorMittal SA, Sponsored NYS | 13,323 | 299,101 | |
Barrick Gold Corp., ADR | 61,623 | 926,194 | |
BHP Group Ltd., Sponsored ADR | 69,860 | 3,340,705 | |
Franco Nevada Corp. | 7,650 | 945,387 | |
Gold Fields Ltd., Sponsored ADR | 24,090 | 189,829 | |
Kinross Gold Corp. | 44,170 | 160,337 | |
POSCO Holdings, Inc., Sponsored ADR | 16,070 | 697,117 | |
Rio Tinto PLC, Sponsored ADR | 30,002 | 1,600,607 | |
Sibanye Stillwater Ltd., ADR | 17,340 | 162,823 | |
Southern Copper Corp. | 4,933 | 231,703 | |
Teck Resources Ltd., Class B | 11,433 | 348,020 |
Shares | Value | ||
Vale SA, Sponsored ADR | 195,970 | $ 2,535,852 | |
Wheaton Precious Metals Corp. | 20,410 | 667,203 | |
12,888,300 | |||
MULTI-UTILITIES (1.3%) | |||
Algonquin Power & Utilities Corp. | 66,030 | 730,292 | |
National Grid PLC, Sponsored ADR | 29,779 | 1,626,529 | |
2,356,821 | |||
OIL, GAS & CONSUMABLE FUELS (14.2%) | |||
BP PLC, Sponsored ADR | 96,462 | 3,210,255 | |
Cameco Corp. | 8,840 | 209,685 | |
Canadian Natural Resources, Ltd. | 29,470 | 1,766,432 | |
Cenovus Energy, Inc. | 32,890 | 664,378 | |
Ecopetrol SA, Sponsored ADR | 7,100 | 70,006 | |
Enbridge, Inc. | 73,470 | 2,861,656 | |
Eni S.p.A., Sponsored ADR | 35,040 | 922,954 | |
Equinor ASA, Sponsored ADR | 33,247 | 1,206,201 | |
Imperial Oil Ltd. | 6,030 | 328,514 | |
Pembina Pipeline Corp. | 19,960 | 658,880 | |
Petroleo Brasileiro SA, Sponsored ADR | 101,530 | 1,301,615 | |
Shell PLC, ADR | 104,825 | 5,831,415 | |
Suncor Energy, Inc. | 36,458 | 1,253,791 | |
TC Energy Corp. | 37,360 | 1,640,851 | |
TotalEnergies SE, Sponsored ADR | 67,330 | 3,687,664 | |
25,614,297 | |||
PAPER & FOREST PRODUCTS (0.1%) | |||
Suzano SA, Sponsored ADR | 23,870 | 245,622 | |
PERSONAL PRODUCTS (2.9%) | |||
Haleon PLC, ADR(a) | 128,740 | 787,889 | |
Natura & Co. Holding SA, ADR | 19,090 | 109,195 | |
Unilever PLC, Sponsored ADR | 94,274 | 4,290,409 | |
5,187,493 | |||
PROFESSIONAL SERVICES (2.0%) | |||
RELX PLC, Sponsored ADR | 75,423 | 2,033,404 | |
Thomson Reuters Corp. | 14,154 | 1,504,287 | |
3,537,691 | |||
REAL ESTATE MANAGEMENT & DEVELOPMENT (0.3%) | |||
FirstService Corp. | 3,380 | 422,534 | |
KE Holdings, Inc., ADR(a) | 10,930 | 111,267 | |
533,801 |
Shares | Value | ||
ROAD & RAIL (2.5%) | |||
Canadian National Railway Co. | 19,900 | $ 2,356,956 | |
Canadian Pacific Railway, Ltd. | 29,670 | 2,210,118 | |
4,567,074 | |||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (10.0%) | |||
ASE Industrial Holding Co. Ltd., ADR | 49,515 | 252,031 | |
ASML Holding N.V., Sponsored NYS | 10,757 | 5,081,822 | |
Daqo New Energy Corp., ADR(a) | 1,330 | 58,507 | |
STMicroelectronics N.V., Sponsored NYS | 20,230 | 629,558 | |
Taiwan Semiconductor Manufacturing Co. Ltd., Sponsored ADR | 178,820 | 11,006,371 | |
United Microelectronics Corp., Sponsored ADR(a) | 152,150 | 902,249 | |
17,930,538 | |||
SOFTWARE (2.1%) | |||
Open Text Corp. | 17,370 | 502,861 | |
SAP SE, Sponsored ADR | 34,360 | 3,300,622 | |
3,803,483 | |||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS (0.8%) | |||
Canon, Inc., Sponsored ADR | 47,730 | 1,012,353 | |
Logitech International SA | 7,310 | 362,869 | |
1,375,222 | |||
TEXTILES, APPAREL & LUXURY GOODS (0.1%) | |||
Gildan Activewear, Inc. | 7,600 | 239,780 | |
TRADING COMPANIES & DISTRIBUTORS (0.5%) | |||
Ferguson PLC | 7,440 | 812,894 | |
TRANSPORTATION INFRASTRUCTURE (0.3%) | |||
Grupo Aeroportuario del Pacifico SAB de CV, ADR | 1,440 | 223,286 | |
Grupo Aeroportuario del Sureste SAB de CV, ADR | 1,320 | 308,115 | |
531,401 | |||
WIRELESS TELECOMMUNICATION SERVICES (1.9%) | |||
America Movil SAB de CV, Class L, Sponsored ADR | 74,410 | 1,399,652 | |
Rogers Communications, Inc., Class B | 20,790 | 865,696 | |
SK Telecom Co. Ltd., Sponsored ADR | 12,570 | 245,869 | |
Vodafone Group PLC, Sponsored ADR | 81,639 | 964,157 | |
3,475,374 | |||
TOTAL COMMON STOCKS (COST $201,941,108) | 173,485,857 |
Shares | Value | ||
MASTER LIMITED PARTNERSHIPS (0.5%) | |||
MULTI-UTILITIES (0.5%) | |||
Brookfield Infrastructure Partners LP | 24,400 | $ 887,672 | |
TOTAL MASTER LIMITED PARTNERSHIPS (COST $859,504) | 887,672 | ||
PREFERRED STOCKS (2.0%) | |||
BANKS (0.8%) | |||
Bancolombia SA, Sponsored ADR, 9.79%(b) | 4,570 | 115,941 | |
Itau Unibanco Holding SA, Sponsored ADR (a) | 232,207 | 1,351,444 | |
1,467,385 | |||
CHEMICALS (0.4%) | |||
Sociedad Quimica y Minera de Chile SA, Sponsored ADR, 7.91%(b) | 7,640 | 715,715 | |
METALS & MINING (0.1%) | |||
Gerdau SA, Sponsored ADR, 11.18%(b) | 36,060 | 179,579 | |
OIL, GAS & CONSUMABLE FUELS (0.7%) | |||
Petroleo Brasileiro SA, Sponsored ADR, 45.16%(b) | 108,380 | 1,247,454 |
Shares | Value | ||
REAL ESTATE MANAGEMENT & DEVELOPMENT (0.0%) | |||
Brookfield Property Preferred LP, 1.56% | 448 | $ 6,998 | |
TOTAL PREFERRED STOCKS (COST $3,107,403) | 3,617,131 | ||
TOTAL INVESTMENTS (COST $205,908,015) 99.0% | 177,990,660 | ||
OTHER ASSETS IN EXCESS OF LIABILITIES 1.0% | 1,821,716 | ||
NET ASSETS 100.0% | $ 179,812,376 | ||
(a) | Represents non-income producing security. |
(b) | Current yield is disclosed. Dividends are calculated based on a percentage of the issuer’s net income. |
ADR — American Depositary Receipt |
LP — Limited Partnership |
NYS — New York Shares |
PLC — Public Limited Company |
The table below sets forth the diversification of the Steward Large Cap Core Fund investments by Industry.
Industry Diversification | Percent* | |
Software | 11.0% | |
Technology Hardware, Storage & Peripherals | 9.3 | |
Health Care Providers & Services | 8.6 | |
IT Services | 7.6 | |
Specialty Retail | 5.0 | |
Insurance | 4.1 | |
Semiconductors & Semiconductor Equipment | 4.1 | |
Biotechnology | 3.8 | |
Consumer Finance | 3.4 | |
Air Freight & Logistics | 3.3 | |
Beverages | 3.3 | |
Equity Real Estate Investment Trusts | 2.3 | |
Road & Rail | 2.1 | |
Communications Equipment | 2.0 | |
Diversified Consumer Services | 2.0 | |
Interactive Media & Services | 2.0 | |
Food Products | 1.9 | |
Oil, Gas & Consumable Fuels | 1.9 | |
Food & Staples Retailing | 1.7 | |
Real Estate Management & Development | 1.7 | |
Automobiles | 1.6 | |
Capital Markets | 1.5 |
Industry Diversification | Percent* | |
Internet & Direct Marketing Retail | 1.5% | |
Aerospace & Defense | 1.4 | |
Professional Services | 1.4 | |
Multiline Retail | 1.3 | |
Commercial Services & Supplies | 1.2 | |
Banks | 1.1 | |
Building Products | 1.0 | |
Containers & Packaging | 1.0 | |
Health Care Equipment & Supplies | 1.0 | |
Media | 0.9 | |
Auto Components | 0.8 | |
Electronic Equipment, Instruments & Components | 0.8 | |
Thrifts & Mortgage Finance | 0.8 | |
Diversified Financial Services | 0.5 | |
Textiles, Apparel & Luxury Goods | 0.5 | |
Diversified Telecommunication Services | 0.4 | |
Life Sciences Tools & Services | 0.1 | |
Money Market Fund | 0.1 | |
Total Investments | 100.0% |
* | Percentages indicated are based on net assets as of October 31, 2022. |
Shares | Value | ||
COMMON STOCKS (99.9%) | |||
AEROSPACE & DEFENSE (1.4%) | |||
Lockheed Martin Corp. | 2,000 | $ 973,360 | |
AIR FREIGHT & LOGISTICS (3.3%) | |||
C.H. Robinson Worldwide, Inc. | 7,400 | 723,128 | |
Expeditors International of Washington, Inc. | 7,300 | 714,305 | |
United Parcel Service, Inc., Class B | 5,400 | 905,958 | |
2,343,391 | |||
AUTO COMPONENTS (0.8%) | |||
BorgWarner, Inc. | 14,600 | 547,938 | |
AUTOMOBILES (1.6%) | |||
Harley-Davidson, Inc. | 16,700 | 718,100 | |
Tesla, Inc.(a) | 1,900 | 432,326 | |
1,150,426 | |||
BANKS (1.1%) | |||
Regions Financial Corp. | 33,900 | 744,105 | |
BEVERAGES (3.3%) | |||
Coca-Cola Co. (The) | 19,200 | 1,149,120 | |
PepsiCo, Inc. | 6,400 | 1,162,112 | |
2,311,232 | |||
BIOTECHNOLOGY (3.8%) | |||
Amgen, Inc. | 3,600 | 973,260 | |
Biogen, Inc.(a) | 2,800 | 793,632 | |
Gilead Sciences, Inc. | 11,300 | 886,598 | |
2,653,490 | |||
BUILDING PRODUCTS (1.0%) | |||
Owens Corning | 8,200 | 702,002 | |
CAPITAL MARKETS (1.5%) | |||
Ameriprise Financial, Inc. | 2,600 | 803,712 | |
Bank of New York Mellon Corp. (The) | 5,500 | 231,605 | |
1,035,317 | |||
COMMERCIAL SERVICES & SUPPLIES (1.2%) | |||
Waste Management, Inc. | 5,100 | 807,687 | |
COMMUNICATIONS EQUIPMENT (2.0%) | |||
Cisco Systems, Inc. | 19,900 | 904,057 | |
Lumentum Holdings, Inc.(a) | 7,100 | 528,595 | |
1,432,652 | |||
CONSUMER FINANCE (3.4%) | |||
American Express Co. | 5,900 | 875,855 |
Shares | Value | ||
Discover Financial Services | 7,600 | $ 793,896 | |
Synchrony Financial | 20,400 | 725,424 | |
2,395,175 | |||
CONTAINERS & PACKAGING (1.0%) | |||
Amcor PLC | 62,200 | 720,276 | |
DIVERSIFIED CONSUMER SERVICES (2.0%) | |||
Grand Canyon Education, Inc.(a) | 7,800 | 784,914 | |
H&R Block, Inc. | 15,100 | 621,365 | |
1,406,279 | |||
DIVERSIFIED FINANCIAL SERVICES (0.5%) | |||
Berkshire Hathaway, Inc., Class B(a) | 1,200 | 354,108 | |
DIVERSIFIED TELECOMMUNICATION SERVICES (0.4%) | |||
Lumen Technologies, Inc. | 34,000 | 250,240 | |
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS (0.8%) | |||
Jabil, Inc. | 9,100 | 584,675 | |
EQUITY REAL ESTATE INVESTMENT TRUSTS (2.3%) | |||
American Tower Corp. | 3,900 | 808,041 | |
SBA Communications Corp. | 500 | 134,950 | |
Weyerhaeuser Co. | 21,400 | 661,902 | |
1,604,893 | |||
FOOD & STAPLES RETAILING (1.7%) | |||
Kroger Co. (The) | 16,900 | 799,201 | |
Sysco Corp. | 4,700 | 406,832 | |
1,206,033 | |||
FOOD PRODUCTS (1.9%) | |||
General Mills, Inc. | 9,900 | 807,642 | |
Mondelez International, Inc., Class A | 8,000 | 491,840 | |
1,299,482 | |||
HEALTH CARE EQUIPMENT & SUPPLIES (1.0%) | |||
Hologic, Inc.(a) | 10,100 | 684,780 | |
HEALTH CARE PROVIDERS & SERVICES (8.6%) | |||
AmerisourceBergen Corp. | 5,000 | 786,100 | |
Cardinal Health, Inc. | 9,600 | 728,640 | |
Cigna Corp. | 2,900 | 936,874 | |
CVS Health Corp. | 9,300 | 880,710 | |
Elevance Health, Inc. | 1,900 | 1,038,863 | |
Laboratory Corporation of America Holdings | 2,400 | 532,464 |
Shares | Value | ||
McKesson Corp. | 1,100 | $ 428,307 | |
Quest Diagnostics, Inc. | 5,000 | 718,250 | |
6,050,208 | |||
INSURANCE (4.1%) | |||
Aflac, Inc. | 13,000 | 846,430 | |
Hartford Financial Services Group, Inc. (The) | 10,700 | 774,787 | |
Marsh & McLennan Cos., Inc. | 2,700 | 436,023 | |
MetLife, Inc. | 11,100 | 812,631 | |
2,869,871 | |||
INTERACTIVE MEDIA & SERVICES (2.0%) | |||
Alphabet, Inc., Class A(a) | 14,900 | 1,408,199 | |
INTERNET & DIRECT MARKETING RETAIL (1.5%) | |||
Amazon.com, Inc.(a) | 10,400 | 1,065,376 | |
IT SERVICES (7.6%) | |||
Automatic Data Processing, Inc. | 2,000 | 483,400 | |
International Business Machines Corp. | 6,700 | 926,543 | |
Mastercard, Inc., Class A | 3,900 | 1,279,902 | |
Paychex, Inc. | 5,400 | 638,874 | |
Visa, Inc., Class A | 6,500 | 1,346,540 | |
Western Union Co. (The) | 49,600 | 670,096 | |
5,345,355 | |||
LIFE SCIENCES TOOLS & SERVICES (0.1%) | |||
Danaher Corp. | 200 | 50,334 | |
MEDIA (0.9%) | |||
Interpublic Group of Cos., Inc. (The) | 20,400 | 607,716 | |
MULTILINE RETAIL (1.3%) | |||
Macy's, Inc. | 12,300 | 256,455 | |
Nordstrom, Inc. | 31,400 | 638,676 | |
895,131 | |||
OIL, GAS & CONSUMABLE FUELS (1.9%) | |||
ConocoPhillips | 7,800 | 983,502 | |
Exxon Mobil Corp. | 1,700 | 188,377 | |
Ovintiv, Inc. | 3,200 | 162,080 | |
1,333,959 | |||
PROFESSIONAL SERVICES (1.4%) | |||
Booz Allen Hamilton Holding Corp. | 3,400 | 370,090 | |
Robert Half International, Inc. | 7,800 | 596,388 | |
966,478 |
Shares | Value | ||
REAL ESTATE MANAGEMENT & DEVELOPMENT (1.7%) | |||
CBRE Group, Inc., Class A(a) | 10,400 | $ 737,776 | |
Jones Lang LaSalle, Inc.(a) | 2,900 | 461,361 | |
1,199,137 | |||
ROAD & RAIL (2.1%) | |||
CSX Corp. | 28,000 | 813,680 | |
Landstar System, Inc. | 4,400 | 687,368 | |
1,501,048 | |||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (4.1%) | |||
Applied Materials, Inc. | 7,000 | 618,030 | |
Cirrus Logic, Inc.(a) | 7,700 | 516,824 | |
Intel Corp. | 26,500 | 753,395 | |
QUALCOMM, Inc. | 8,100 | 953,046 | |
2,841,295 | |||
SOFTWARE (11.0%) | |||
Autodesk, Inc.(a) | 400 | 85,720 | |
Cadence Design Systems, Inc.(a) | 5,200 | 787,228 | |
Dolby Laboratories, Inc., Class A | 8,200 | 548,088 | |
Dropbox, Inc., Class A(a) | 32,600 | 709,050 | |
Microsoft Corp. | 11,700 | 2,715,921 | |
NortonLifeLock, Inc. | 32,300 | 727,719 | |
Synopsys, Inc.(a) | 2,600 | 760,630 | |
Teradata Corp.(a) | 18,800 | 593,892 | |
VMware, Inc., Class A | 6,600 | 742,698 | |
7,670,946 | |||
SPECIALTY RETAIL (5.0%) | |||
AutoZone, Inc.(a) | 300 | 759,864 | |
Best Buy Co., Inc. | 2,600 | 177,866 | |
Home Depot, Inc. (The) | 3,100 | 918,003 | |
Lowe’s Cos., Inc. | 4,800 | 935,760 | |
Ulta Beauty, Inc.(a) | 1,700 | 712,929 | |
3,504,422 | |||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS (9.3%) | |||
Apple, Inc. | 25,200 | 3,864,168 | |
Dell Technologies, Inc., Class C | 14,700 | 564,480 | |
Hewlett Packard Enterprise Co. | 48,100 | 686,387 | |
HP, Inc. | 27,700 | 765,074 | |
NetApp, Inc. | 8,900 | 616,503 | |
6,496,612 |
Shares | Value | ||
TEXTILES, APPAREL & LUXURY GOODS (0.5%) | |||
Tapestry, Inc. | 12,000 | $ 380,160 | |
THRIFTS & MORTGAGE FINANCE (0.8%) | |||
MGIC Investment Corp. | 38,600 | 526,890 | |
TOTAL COMMON STOCKS (COST $75,369,263) | 69,920,678 | ||
MONEY MARKET FUND (0.1%) | |||
Northern Institutional Treasury Portfolio (Premier Class), 2.48%(b) | 101,879 | 101,879 | |
TOTAL MONEY MARKET FUND (COST $101,879) | 101,879 | ||
TOTAL INVESTMENTS (COST $75,471,142) 100.0% | 70,022,557 |
Shares | Value | ||
LIABILITIES IN EXCESS OF OTHER ASSETS 0.0% | $ (5,758) | ||
NET ASSETS 100.0% | $ 70,016,799 | ||
(a) | Represents non-income producing security. |
(b) | 7-day current yield as of October 31, 2022 is disclosed. |
PLC — Public Limited Company |
The table below sets forth the diversification of the Steward Large Cap Growth Fund investments by Industry.
Industry Diversification | Percent* | |
Software | 15.3% | |
Technology Hardware, Storage & Peripherals | 14.9 | |
IT Services | 12.0 | |
Specialty Retail | 6.6 | |
Equity Real Estate Investment Trusts | 5.8 | |
Health Care Providers & Services | 5.7 | |
Interactive Media & Services | 4.3 | |
Internet & Direct Marketing Retail | 4.1 | |
Semiconductors & Semiconductor Equipment | 3.6 | |
Consumer Finance | 3.1 | |
Automobiles | 2.2 | |
Air Freight & Logistics | 2.1 | |
Beverages | 2.1 | |
Electronic Equipment, Instruments & Components | 2.0 | |
Professional Services | 1.9 | |
Aerospace & Defense | 1.6 | |
Chemicals | 1.6 |
Industry Diversification | Percent* | |
Trading Companies & Distributors | 1.3% | |
Biotechnology | 1.1 | |
Capital Markets | 1.1 | |
Real Estate Management & Development | 1.1 | |
Road & Rail | 1.1 | |
Diversified Consumer Services | 1.0 | |
Multiline Retail | 1.0 | |
Containers & Packaging | 0.8 | |
Textiles, Apparel & Luxury Goods | 0.6 | |
Insurance | 0.5 | |
Leisure Products | 0.4 | |
Pharmaceuticals | 0.4 | |
Food & Staples Retailing | 0.3 | |
Money Market Fund | 0.2 | |
Life Sciences Tools & Services | 0.1 | |
Total Investments | 99.9% |
* | Percentages indicated are based on net assets as of October 31, 2022. |
Shares | Value | ||
COMMON STOCKS (99.7%) | |||
AEROSPACE & DEFENSE (1.6%) | |||
Lockheed Martin Corp. | 1,800 | $ 876,024 | |
AIR FREIGHT & LOGISTICS (2.1%) | |||
C.H. Robinson Worldwide, Inc. | 5,800 | 566,776 | |
Expeditors International of Washington, Inc. | 6,100 | 596,885 | |
1,163,661 | |||
AUTOMOBILES (2.2%) | |||
Tesla, Inc.(a) | 5,400 | 1,228,716 | |
BEVERAGES (2.1%) | |||
PepsiCo, Inc. | 6,500 | 1,180,270 | |
BIOTECHNOLOGY (1.1%) | |||
AbbVie, Inc. | 1,900 | 278,160 | |
Amgen, Inc. | 1,300 | 351,455 | |
629,615 | |||
CAPITAL MARKETS (1.1%) | |||
Ameriprise Financial, Inc. | 2,000 | 618,240 | |
CHEMICALS (1.6%) | |||
Dow, Inc. | 9,400 | 439,356 | |
Linde PLC | 1,400 | 416,290 | |
855,646 | |||
CONSUMER FINANCE (3.1%) | |||
American Express Co. | 3,900 | 578,955 | |
Discover Financial Services | 5,400 | 564,084 | |
Synchrony Financial | 15,300 | 544,068 | |
1,687,107 | |||
CONTAINERS & PACKAGING (0.8%) | |||
Berry Global Group, Inc.(a) | 9,200 | 435,344 | |
DIVERSIFIED CONSUMER SERVICES (1.0%) | |||
H&R Block, Inc. | 13,700 | 563,755 | |
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS (2.0%) | |||
Jabil, Inc. | 7,300 | 469,025 | |
Keysight Technologies, Inc.(a) | 3,500 | 609,525 | |
1,078,550 | |||
EQUITY REAL ESTATE INVESTMENT TRUSTS (5.8%) | |||
American Tower Corp. | 4,000 | 828,760 |
Shares | Value | ||
Crown Castle, Inc. | 4,500 | $ 599,670 | |
Equinix, Inc. | 1,100 | 623,084 | |
Iron Mountain, Inc. | 12,000 | 600,840 | |
SBA Communications Corp. | 2,000 | 539,800 | |
3,192,154 | |||
FOOD & STAPLES RETAILING (0.3%) | |||
Costco Wholesale Corp. | 300 | 150,450 | |
HEALTH CARE PROVIDERS & SERVICES (5.7%) | |||
AmerisourceBergen Corp. | 3,900 | 613,158 | |
Cardinal Health, Inc. | 7,500 | 569,250 | |
Cigna Corp. | 1,900 | 613,814 | |
Elevance Health, Inc. | 1,300 | 710,801 | |
McKesson Corp. | 1,600 | 622,992 | |
3,130,015 | |||
INSURANCE (0.5%) | |||
Marsh & McLennan Cos., Inc. | 1,700 | 274,533 | |
INTERACTIVE MEDIA & SERVICES (4.3%) | |||
Alphabet, Inc., Class A(a) | 25,000 | 2,362,750 | |
INTERNET & DIRECT MARKETING RETAIL (4.1%) | |||
Amazon.com, Inc.(a) | 21,900 | 2,243,436 | |
IT SERVICES (12.0%) | |||
Automatic Data Processing, Inc. | 2,400 | 580,080 | |
Gartner, Inc.(a) | 1,700 | 513,264 | |
Genpact Ltd. | 9,900 | 480,150 | |
International Business Machines Corp. | 5,800 | 802,082 | |
Mastercard, Inc., Class A | 4,400 | 1,443,992 | |
Paychex, Inc. | 5,200 | 615,212 | |
Visa, Inc., Class A | 7,800 | 1,615,848 | |
Western Union Co. (The) | 39,800 | 537,698 | |
6,588,326 | |||
LEISURE PRODUCTS (0.4%) | |||
Mattel, Inc.(a) | 11,800 | 223,728 | |
LIFE SCIENCES TOOLS & SERVICES (0.1%) | |||
Danaher Corp. | 300 | 75,501 | |
MULTILINE RETAIL (1.0%) | |||
Nordstrom, Inc. | 26,900 | 547,146 | |
PHARMACEUTICALS (0.4%) | |||
Eli Lilly & Co. | 600 | 217,254 |
Shares | Value | ||
PROFESSIONAL SERVICES (1.9%) | |||
Booz Allen Hamilton Holding Corp. | 5,100 | $ 555,135 | |
Robert Half International, Inc. | 6,700 | 512,282 | |
1,067,417 | |||
REAL ESTATE MANAGEMENT & DEVELOPMENT (1.1%) | |||
CBRE Group, Inc., Class A(a) | 8,200 | 581,708 | |
ROAD & RAIL (1.1%) | |||
Landstar System, Inc. | 3,700 | 578,014 | |
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (3.6%) | |||
Applied Materials, Inc. | 6,300 | 556,227 | |
NVIDIA Corp. | 3,400 | 458,898 | |
QUALCOMM, Inc. | 8,100 | 953,046 | |
1,968,171 | |||
SOFTWARE (15.3%) | |||
Cadence Design Systems, Inc.(a) | 4,500 | 681,255 | |
Dropbox, Inc., Class A(a) | 26,600 | 578,550 | |
Microsoft Corp. | 20,600 | 4,781,878 | |
NortonLifeLock, Inc. | 26,200 | 590,286 | |
Synopsys, Inc.(a) | 2,300 | 672,865 | |
Teradata Corp.(a) | 16,900 | 533,871 | |
VMware, Inc., Class A | 5,200 | 585,156 | |
8,423,861 | |||
SPECIALTY RETAIL (6.6%) | |||
AutoZone, Inc.(a) | 200 | 506,576 | |
Best Buy Co., Inc. | 8,300 | 567,803 | |
Home Depot, Inc. (The) | 3,600 | 1,066,068 | |
Lowe’s Cos., Inc. | 4,500 | 877,275 | |
Ulta Beauty, Inc.(a) | 1,400 | 587,118 | |
3,604,840 |
Shares | Value | ||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS (14.9%) | |||
Apple, Inc. | 43,300 | $ 6,639,622 | |
Dell Technologies, Inc., Class C | 13,100 | 503,040 | |
HP, Inc. | 22,100 | 610,402 | |
NetApp, Inc. | 6,500 | 450,255 | |
8,203,319 | |||
TEXTILES, APPAREL & LUXURY GOODS (0.6%) | |||
Tapestry, Inc. | 9,900 | 313,632 | |
TRADING COMPANIES & DISTRIBUTORS (1.3%) | |||
W.W. Grainger, Inc. | 1,200 | 701,220 | |
TOTAL COMMON STOCKS (COST $60,513,090) | 54,764,403 | ||
MONEY MARKET FUND (0.2%) | |||
Northern Institutional Treasury Portfolio (Premier Class), 2.48%(b) | 110,601 | 110,601 | |
TOTAL MONEY MARKET FUND (COST $110,601) | 110,601 | ||
TOTAL INVESTMENTS (COST $60,623,691) 99.9% | 54,875,004 | ||
OTHER ASSETS IN EXCESS OF LIABILITIES 0.1% | 62,362 | ||
NET ASSETS 100.0% | $ 54,937,366 | ||
(a) | Represents non-income producing security. |
(b) | 7-day current yield as of October 31, 2022 is disclosed. |
PLC — Public Limited Company |
The table below sets forth the diversification of the Steward Large Cap Value Fund investments by Industry.
Industry Diversification | Percent* | |
Health Care Providers & Services | 10.0% | |
Oil, Gas & Consumable Fuels | 8.2 | |
Insurance | 5.8 | |
Equity Real Estate Investment Trusts | 5.1 | |
Biotechnology | 4.1 | |
Capital Markets | 4.0 | |
Technology Hardware, Storage & Peripherals | 3.9 | |
Consumer Finance | 3.7 | |
Specialty Retail | 3.7 | |
IT Services | 3.6 | |
Software | 3.4 | |
Air Freight & Logistics | 3.0 | |
Food Products | 2.8 | |
Banks | 2.5 | |
Beverages | 2.5 | |
Communications Equipment | 2.3 | |
Diversified Telecommunication Services | 2.2 | |
Diversified Consumer Services | 2.0 | |
Diversified Financial Services | 1.9 | |
Real Estate Management & Development | 1.9 | |
Multiline Retail | 1.8 | |
Semiconductors & Semiconductor Equipment | 1.5 | |
Food & Staples Retailing | 1.4 |
Industry Diversification | Percent* | |
Pharmaceuticals | 1.4% | |
Road & Rail | 1.2 | |
Auto Components | 1.1 | |
Chemicals | 1.1 | |
Containers & Packaging | 1.1 | |
Household Products | 1.1 | |
Metals & Mining | 1.1 | |
Aerospace & Defense | 1.0 | |
Automobiles | 1.0 | |
Building Products | 1.0 | |
Commercial Services & Supplies | 1.0 | |
Electric Utilities | 1.0 | |
Entertainment | 1.0 | |
Media | 1.0 | |
Thrifts & Mortgage Finance | 1.0 | |
Electronic Equipment, Instruments & Components | 0.9 | |
Professional Services | 0.7 | |
Life Sciences Tools & Services | 0.6 | |
Health Care Equipment & Supplies | 0.2 | |
Money Market Fund | 0.2 | |
Total Investments | 100.0% |
* | Percentages indicated are based on net assets as of October 31, 2022. |
Shares | Value | ||
COMMON STOCKS (99.8%) | |||
AEROSPACE & DEFENSE (1.0%) | |||
Lockheed Martin Corp. | 1,300 | $ 632,684 | |
AIR FREIGHT & LOGISTICS (3.0%) | |||
C.H. Robinson Worldwide, Inc. | 5,900 | 576,548 | |
Expeditors International of Washington, Inc. | 6,000 | 587,100 | |
United Parcel Service, Inc., Class B | 3,700 | 620,749 | |
1,784,397 | |||
AUTO COMPONENTS (1.1%) | |||
BorgWarner, Inc. | 17,300 | 649,269 | |
AUTOMOBILES (1.0%) | |||
Harley-Davidson, Inc. | 14,600 | 627,800 | |
BANKS (2.5%) | |||
Bank of America Corp. | 6,800 | 245,072 | |
JPMorgan Chase & Co. | 4,900 | 616,812 | |
Regions Financial Corp. | 30,400 | 667,280 | |
1,529,164 | |||
BEVERAGES (2.5%) | |||
Coca-Cola Co. (The) | 13,400 | 801,990 | |
PepsiCo, Inc. | 3,900 | 708,162 | |
1,510,152 | |||
BIOTECHNOLOGY (4.1%) | |||
Amgen, Inc. | 2,500 | 675,875 | |
Biogen, Inc.(a) | 2,600 | 736,944 | |
Gilead Sciences, Inc. | 13,200 | 1,035,672 | |
2,448,491 | |||
BUILDING PRODUCTS (1.0%) | |||
Owens Corning | 6,900 | 590,709 | |
CAPITAL MARKETS (4.0%) | |||
Ameriprise Financial, Inc. | 2,200 | 680,064 | |
Bank of New York Mellon Corp. (The) | 14,900 | 627,439 | |
Goldman Sachs Group, Inc. (The) | 2,800 | 964,628 | |
Morgan Stanley | 2,000 | 164,340 | |
2,436,471 | |||
CHEMICALS (1.1%) | |||
Dow, Inc. | 14,600 | 682,404 |
Shares | Value | ||
COMMERCIAL SERVICES & SUPPLIES (1.0%) | |||
Waste Management, Inc. | 3,800 | $ 601,806 | |
COMMUNICATIONS EQUIPMENT (2.3%) | |||
Cisco Systems, Inc. | 27,100 | 1,231,153 | |
Lumentum Holdings, Inc.(a) | 2,400 | 178,680 | |
1,409,833 | |||
CONSUMER FINANCE (3.7%) | |||
American Express Co. | 5,900 | 875,855 | |
Discover Financial Services | 6,800 | 710,328 | |
Synchrony Financial | 18,400 | 654,304 | |
2,240,487 | |||
CONTAINERS & PACKAGING (1.1%) | |||
Amcor PLC | 56,200 | 650,796 | |
DIVERSIFIED CONSUMER SERVICES (2.0%) | |||
Grand Canyon Education, Inc.(a) | 6,300 | 633,969 | |
H&R Block, Inc. | 13,500 | 555,525 | |
1,189,494 | |||
DIVERSIFIED FINANCIAL SERVICES (1.9%) | |||
Berkshire Hathaway, Inc., Class B(a) | 3,900 | 1,150,851 | |
DIVERSIFIED TELECOMMUNICATION SERVICES (2.2%) | |||
AT&T, Inc. | 56,800 | 1,035,464 | |
Lumen Technologies, Inc. | 39,600 | 291,456 | |
1,326,920 | |||
ELECTRIC UTILITIES (1.0%) | |||
Exelon Corp. | 16,100 | 621,299 | |
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS (0.9%) | |||
Jabil, Inc. | 8,000 | 514,000 | |
ENTERTAINMENT (1.0%) | |||
Activision Blizzard, Inc. | 7,900 | 575,120 | |
EQUITY REAL ESTATE INVESTMENT TRUSTS (5.1%) | |||
American Tower Corp. | 3,300 | 683,727 | |
Equinix, Inc. | 1,000 | 566,440 | |
Iron Mountain, Inc. | 11,000 | 550,770 | |
SBA Communications Corp. | 2,100 | 566,790 |
Shares | Value | ||
Simon Property Group, Inc. | 1,300 | $ 141,674 | |
Weyerhaeuser Co. | 19,000 | 587,670 | |
3,097,071 | |||
FOOD & STAPLES RETAILING (1.4%) | |||
Kroger Co. (The) | 15,400 | 728,266 | |
Walmart, Inc. | 600 | 85,398 | |
813,664 | |||
FOOD PRODUCTS (2.8%) | |||
General Mills, Inc. | 9,500 | 775,010 | |
Mondelez International, Inc., Class A | 14,500 | 891,460 | |
1,666,470 | |||
HEALTH CARE EQUIPMENT & SUPPLIES (0.2%) | |||
Hologic, Inc.(a) | 1,700 | 115,260 | |
HEALTH CARE PROVIDERS & SERVICES (10.0%) | |||
AmerisourceBergen Corp. | 3,900 | 613,158 | |
Cardinal Health, Inc. | 9,400 | 713,460 | |
Cigna Corp. | 2,800 | 904,568 | |
CVS Health Corp. | 9,800 | 928,060 | |
Elevance Health, Inc. | 1,700 | 929,509 | |
Henry Schein, Inc.(a) | 7,300 | 499,758 | |
Laboratory Corporation of America Holdings | 1,300 | 288,418 | |
McKesson Corp. | 1,300 | 506,181 | |
Quest Diagnostics, Inc. | 4,600 | 660,790 | |
6,043,902 | |||
HOUSEHOLD PRODUCTS (1.1%) | |||
Kimberly-Clark Corp. | 5,500 | 684,530 | |
INSURANCE (5.8%) | |||
Aflac, Inc. | 11,900 | 774,809 | |
Allstate Corp. (The) | 3,300 | 416,625 | |
Hartford Financial Services Group, Inc. (The) | 9,900 | 716,859 | |
MetLife, Inc. | 11,100 | 812,631 | |
Travelers Cos., Inc. (The) | 4,100 | 756,286 | |
3,477,210 | |||
IT SERVICES (3.6%) | |||
Automatic Data Processing, Inc. | 2,600 | 628,420 | |
International Business Machines Corp. | 5,400 | 746,766 | |
Paychex, Inc. | 1,900 | 224,789 | |
Western Union Co. (The) | 42,800 | 578,228 | |
2,178,203 |
Shares | Value | ||
LIFE SCIENCES TOOLS & SERVICES (0.6%) | |||
Danaher Corp. | 1,500 | $ 377,505 | |
MEDIA (1.0%) | |||
Interpublic Group of Cos., Inc. (The) | 20,700 | 616,653 | |
METALS & MINING (1.1%) | |||
Reliance Steel & Aluminum Co. | 3,200 | 644,736 | |
MULTILINE RETAIL (1.8%) | |||
Macy's, Inc. | 29,400 | 612,990 | |
Nordstrom, Inc. | 24,100 | 490,194 | |
1,103,184 | |||
OIL, GAS & CONSUMABLE FUELS (8.2%) | |||
Chevron Corp. | 3,200 | 578,880 | |
ConocoPhillips | 8,800 | 1,109,592 | |
Exxon Mobil Corp. | 8,400 | 930,804 | |
Marathon Petroleum Corp. | 7,100 | 806,702 | |
Phillips 66 | 7,300 | 761,317 | |
Valero Energy Corp. | 5,800 | 728,190 | |
4,915,485 | |||
PHARMACEUTICALS (1.4%) | |||
Eli Lilly & Co. | 1,900 | 687,971 | |
Organon & Co. | 5,900 | 154,462 | |
842,433 | |||
PROFESSIONAL SERVICES (0.7%) | |||
Robert Half International, Inc. | 5,200 | 397,592 | |
REAL ESTATE MANAGEMENT & DEVELOPMENT (1.9%) | |||
CBRE Group, Inc., Class A(a) | 8,900 | 631,366 | |
Jones Lang LaSalle, Inc.(a) | 3,300 | 524,997 | |
1,156,363 | |||
ROAD & RAIL (1.2%) | |||
CSX Corp. | 25,900 | 752,654 | |
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (1.5%) | |||
Intel Corp. | 31,100 | 884,173 | |
SOFTWARE (3.4%) | |||
NortonLifeLock, Inc. | 24,200 | 545,226 | |
Synopsys, Inc.(a) | 1,600 | 468,080 | |
Teradata Corp.(a) | 11,900 | 375,921 | |
VMware, Inc., Class A | 5,600 | 630,168 | |
2,019,395 |
Shares | Value | ||
SPECIALTY RETAIL (3.7%) | |||
AutoZone, Inc.(a) | 200 | $ 506,576 | |
Home Depot, Inc. (The) | 3,500 | 1,036,455 | |
Lowe’s Cos., Inc. | 3,400 | 662,830 | |
2,205,861 | |||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS (3.9%) | |||
Dell Technologies, Inc., Class C | 14,200 | 545,280 | |
Hewlett Packard Enterprise Co. | 47,900 | 683,533 | |
HP, Inc. | 24,100 | 665,642 | |
Xerox Holdings Corp. | 32,500 | 475,475 | |
2,369,930 | |||
THRIFTS & MORTGAGE FINANCE (1.0%) | |||
MGIC Investment Corp. | 44,100 | 601,965 | |
TOTAL COMMON STOCKS (COST $61,270,029) | 60,136,386 | ||
MONEY MARKET FUND (0.2%) | |||
Northern Institutional Treasury Portfolio (Premier Class), 2.48%(b) | 123,492 | 123,492 | |
TOTAL MONEY MARKET FUND (COST $123,492) | 123,492 |
Shares | Value | ||
TOTAL INVESTMENTS (COST $61,393,521) 100.0% | $ 60,259,878 | ||
LIABILITIES IN EXCESS OF OTHER ASSETS 0.0% | (3,992) | ||
NET ASSETS 100.0% | $ 60,255,886 | ||
(a) | Represents non-income producing security. |
(b) | 7-day current yield as of October 31, 2022 is disclosed. |
PLC — Public Limited Company |
The table below sets forth the diversification of the Steward Select Bond Fund investments by Industry.
Industry Diversification | Percent* | |
U.S. Government Agencies | 21.8% | |
Software | 5.4 | |
Semiconductors & Semiconductor Equipment | 5.2 | |
U.S. Government Agency Mortgage-Backed Obligations | 5.0 | |
IT Services | 4.6 | |
Food & Staples Retailing | 3.9 | |
Municipal Bonds | 3.3 | |
Aerospace & Defense | 3.2 | |
Capital Markets | 3.0 | |
Hotels, Restaurants & Leisure | 3.0 | |
Textiles, Apparel & Luxury Goods | 3.0 | |
U.S. Treasury Obligations | 3.0 | |
Health Care Providers & Services | 2.9 | |
Specialty Retail | 2.8 | |
Air Freight & Logistics | 2.7 | |
Media | 2.2 | |
Oil, Gas & Consumable Fuels | 2.0 | |
Technology Hardware, Storage & Peripherals | 1.7 | |
Communications Equipment | 1.4 |
Industry Diversification | Percent* | |
Consumer Finance | 1.4% | |
Food Products | 1.4 | |
Health Care Equipment & Supplies | 1.4 | |
Household Products | 1.4 | |
Internet & Direct Marketing Retail | 1.4 | |
Machinery | 1.4 | |
Multiline Retail | 1.4 | |
Commercial Services & Supplies | 1.3 | |
Electric Utilities | 1.3 | |
Entertainment | 1.3 | |
Industrial Conglomerates | 1.3 | |
Chemicals | 1.1 | |
Money Market Fund | 1.1 | |
Biotechnology | 1.0 | |
Diversified Financial Services | 0.7 | |
Insurance | 0.3 | |
Thrifts & Mortgage Finance | 0.0** | |
Total Investments | 99.3% |
* | Percentages indicated are based on net assets as of October 31, 2022. |
** | Amount rounds to less than 0.1%. |
Principal Amount | Value | ||
ASSET-BACKED SECURITIES (0.0%) | |||
THRIFTS & MORTGAGE FINANCE (0.0%) | |||
Opteum Mortgage Acceptance Corp., Class 2AD2, 5.85% 12/25/35, (Callable 11/25/22 @ 100)(a) | $ 47,297 | $ 46,629 | |
TOTAL ASSET-BACKED SECURITIES (COST $47,528) | 46,629 | ||
CORPORATE BONDS (65.1%) | |||
AEROSPACE & DEFENSE (3.2%) | |||
General Dynamics Corp., 3.75%, 5/15/28, (Callable 2/15/28 @ 100) | 2,000,000 | 1,865,893 | |
Lockheed Martin Corp., 3.55%, 1/15/26, (Callable 10/15/25 @ 100) | 1,000,000 | 961,645 | |
Raytheon Technologies Corp., 3.75%, 11/1/46, (Callable 5/1/46 @ 100) | 2,000,000 | 1,464,019 | |
4,291,557 | |||
AIR FREIGHT & LOGISTICS (2.7%) | |||
United Parcel Service, Inc., 3.05%, 11/15/27, (Callable 8/15/27 @ 100) | 1,000,000 | 917,113 | |
United Parcel Service, Inc., 3.75%, 11/15/47, (Callable 5/15/47 @ 100) | 1,000,000 | 772,810 | |
United Parcel Service, Inc., 3.90%, 4/1/25, (Callable 3/1/25 @ 100) | 2,000,000 | 1,956,082 | |
3,646,005 | |||
BIOTECHNOLOGY (1.0%) | |||
AbbVie, Inc., 4.50%, 5/14/35, (Callable 11/14/34 @ 100) | 1,500,000 | 1,329,688 | |
CAPITAL MARKETS (3.0%) | |||
Charles Schwab Corp. (The), 2.00%, 3/20/28, (Callable 1/20/28 @ 100) | 2,000,000 | 1,705,448 | |
Charles Schwab Corp. (The), 5.00% (H15T5Y + 326 bps), 6/1/27, (Callable 6/1/27 @ 100)(a) | 1,000,000 | 887,500 | |
Goldman Sachs Group, Inc. (The), 5.95%, 1/15/27 | 1,500,000 | 1,513,251 | |
4,106,199 | |||
CHEMICALS (1.1%) | |||
Sherwin-Williams Co. (The), 2.95%, 8/15/29, (Callable 5/15/29 @ 100) | 1,000,000 | 847,366 | |
Sherwin-Williams Co. (The), 3.80%, 8/15/49, (Callable 2/15/49 @ 100) | 1,000,000 | 691,779 | |
1,539,145 | |||
COMMERCIAL SERVICES & SUPPLIES (1.3%) | |||
Waste Management, Inc., 3.15%, 11/15/27, (Callable 8/15/27 @ 100) | 2,000,000 | 1,822,815 |
Principal Amount | Value | ||
COMMUNICATIONS EQUIPMENT (1.4%) | |||
Cisco Systems, Inc., 2.50%, 9/20/26, (Callable 6/20/26 @ 100) | $ 2,000,000 | $ 1,846,290 | |
CONSUMER FINANCE (1.4%) | |||
American Express Co., 3.40%, 2/22/24, (Callable 1/22/24 @ 100) | 1,000,000 | 975,505 | |
American Express Credit Corp., 3.30%, 5/3/27, (Callable 4/3/27 @ 100) | 1,000,000 | 913,275 | |
1,888,780 | |||
DIVERSIFIED FINANCIAL SERVICES (0.7%) | |||
Citigroup, Inc., 6.63%, 6/15/32 | 1,000,000 | 1,012,112 | |
ELECTRIC UTILITIES (1.3%) | |||
Duke Energy Corp., 4.50%, 8/15/32, (Callable 5/15/32 @ 100) | 2,000,000 | 1,802,705 | |
ENTERTAINMENT (1.3%) | |||
Walt Disney Co. (The), 3.80%, 3/22/30 | 2,000,000 | 1,821,977 | |
FOOD & STAPLES RETAILING (3.9%) | |||
Sysco Corp., 3.25%, 7/15/27, (Callable 4/15/27 @ 100) | 2,000,000 | 1,805,744 | |
Walgreens Boots Alliance, Inc., 4.50%, 11/18/34, (Callable 5/18/34 @ 100) | 2,000,000 | 1,687,010 | |
Walmart, Inc., 3.25%, 7/8/29, (Callable 4/8/29 @ 100) | 2,000,000 | 1,819,583 | |
5,312,337 | |||
FOOD PRODUCTS (1.4%) | |||
General Mills, Inc., 4.20%, 4/17/28, (Callable 1/17/28 @ 100) | 2,000,000 | 1,890,588 | |
HEALTH CARE EQUIPMENT & SUPPLIES (1.4%) | |||
Abbott Laboratories, 2.95%, 3/15/25, (Callable 12/15/24 @ 100) | 2,000,000 | 1,917,117 | |
HEALTH CARE PROVIDERS & SERVICES (2.9%) | |||
CVS Health Corp., 1.75%, 8/21/30, (Callable 5/21/30 @ 100) | 1,320,000 | 1,004,836 | |
CVS Health Corp., 4.00%, 12/5/23, (Callable 9/5/23 @ 100) | 2,000,000 | 1,982,053 | |
Evernorth Health, Inc., 4.50%, 2/25/26, (Callable 11/27/25 @ 100) | 1,000,000 | 966,686 | |
3,953,575 | |||
HOTELS, RESTAURANTS & LEISURE (3.0%) | |||
McDonald's Corp., 3.60%, 7/1/30, (Callable 4/1/30 @ 100) | 1,000,000 | 896,531 |
Principal Amount | Value | ||
McDonald's Corp., 3.63%, 9/1/49, (Callable 3/1/49 @ 100) | $ 2,500,000 | $ 1,763,609 | |
Starbucks Corp., 3.75%, 12/1/47, (Callable 6/1/47 @ 100) | 2,000,000 | 1,428,646 | |
4,088,786 | |||
HOUSEHOLD PRODUCTS (1.4%) | |||
Procter & Gamble Co. (The), 3.00%, 3/25/30 | 1,000,000 | 892,978 | |
Procter & Gamble Co. (The), 3.10%, 8/15/23 | 1,000,000 | 987,398 | |
1,880,376 | |||
INDUSTRIAL CONGLOMERATES (1.3%) | |||
3M Co., 2.88%, 10/15/27, (Callable 7/15/27 @ 100) | 2,000,000 | 1,804,172 | |
INSURANCE (0.3%) | |||
Prudential Financial, Inc., 5.13% (H15T5Y + 316 bps), 3/1/52, (Callable 11/28/31 @ 100)(a) | 500,000 | 426,335 | |
INTERNET & DIRECT MARKETING RETAIL (1.4%) | |||
Amazon.com, Inc., 3.80%, 12/5/24, (Callable 9/5/24 @ 100) | 2,000,000 | 1,964,740 | |
IT SERVICES (4.6%) | |||
Fiserv, Inc., 4.20%, 10/1/28, (Callable 7/1/28 @ 100) | 1,000,000 | 925,006 | |
Mastercard, Inc., 3.38%, 4/1/24 | 2,000,000 | 1,962,377 | |
PayPal Holdings, Inc., 2.85%, 10/1/29, (Callable 7/1/29 @ 100) | 2,000,000 | 1,700,812 | |
Visa, Inc., 4.30%, 12/14/45, (Callable 6/14/45 @ 100) | 2,000,000 | 1,704,386 | |
6,292,581 | |||
MACHINERY (1.4%) | |||
John Deere Capital Corp., 3.45%, 3/13/25 | 2,000,000 | 1,935,122 | |
MEDIA (2.2%) | |||
Comcast Corp., 3.70%, 4/15/24, (Callable 3/15/24 @ 100) | 3,000,000 | 2,944,449 | |
MULTILINE RETAIL (1.4%) | |||
Target Corp., 3.50%, 7/1/24 | 2,000,000 | 1,956,724 | |
OIL, GAS & CONSUMABLE FUELS (2.0%) | |||
Valero Energy Corp., 4.00%, 4/1/29, (Callable 1/1/29 @ 100) | 3,000,000 | 2,732,241 | |
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (5.2%) | |||
Intel Corp., 4.00%, 12/15/32 | 2,000,000 | 1,761,931 | |
NVIDIA Corp., 2.85%, 4/1/30, (Callable 1/1/30 @ 100) | 2,000,000 | 1,701,728 | |
Qualcomm, Inc., 4.65%, 5/20/35, (Callable 11/20/34 @ 100) | 4,000,000 | 3,687,076 | |
7,150,735 |
Principal Amount | Value | ||
SOFTWARE (5.4%) | |||
Adobe, Inc., 3.25%, 2/1/25, (Callable 11/1/24 @ 100) | $ 3,000,000 | $ 2,901,063 | |
Microsoft Corp., 3.45%, 8/8/36, (Callable 2/8/36 @ 100) | 2,000,000 | 1,713,744 | |
Oracle Corp., 3.25%, 11/15/27, (Callable 8/15/27 @ 100) | 2,000,000 | 1,774,953 | |
Salesforce, Inc., 3.70%, 4/11/28, (Callable 1/11/28 @ 100) | 1,000,000 | 942,280 | |
7,332,040 | |||
SPECIALTY RETAIL (2.8%) | |||
Home Depot, Inc. (The), 3.75%, 2/15/24, (Callable 11/15/23 @ 100) | 2,000,000 | 1,979,870 | |
Lowe's Cos., Inc., 3.65%, 4/5/29, (Callable 1/5/29 @ 100) | 2,000,000 | 1,798,033 | |
3,777,903 | |||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS (1.7%) | |||
Apple, Inc., 1.65%, 5/11/30, (Callable 2/11/30 @ 100) | 2,000,000 | 1,599,964 | |
Apple, Inc., 3.45%, 2/9/45 | 1,000,000 | 757,111 | |
2,357,075 | |||
TEXTILES, APPAREL & LUXURY GOODS (3.0%) | |||
NIKE, Inc., 2.85%, 3/27/30, (Callable 12/27/29 @ 100) | 3,000,000 | �� | 2,602,210 |
Ralph Lauren Corp., 2.95%, 6/15/30, (Callable 3/15/30 @ 100) | 1,000,000 | 838,031 | |
Tapestry, Inc., 4.13%, 7/15/27, (Callable 4/15/27 @ 100) | 689,000 | 623,293 | |
4,063,534 | |||
TOTAL CORPORATE BONDS (COST $104,142,830) | 88,887,703 | ||
MUNICIPAL BONDS (3.3%) | |||
California State University Taxable Revenue Refunding Bonds, Series B, 1.79%, 11/1/30 | 500,000 | 382,498 | |
Connecticut State Taxable G.O. Unlimited Bonds, Series A, 1.50%, 6/1/27 | 200,000 | 171,005 | |
Frisco Taxable Certificates G.O. Limited Bonds, Series B, 1.75%, 2/15/30 | 995,000 | 797,485 | |
Houston Utility System First Lien Taxable Revenue Refunding Bonds, Series B, 1.93%, 11/15/31 | 1,240,000 | 928,137 | |
Leander Independent School District Taxable G.O. Unlimited Refunding Bonds, Series B (PSF, Gtd.), 1.99%, 8/15/33, (Callable 8/15/31 @ 100) | 895,000 | 662,565 | |
Louisiana State Highway Improvement Taxable Revenue Refunding Bonds, Series A, 1.59%, 6/15/30 | 100,000 | 76,459 | |
Metropolitan Government Nashville & Davidson County Water & Sewer Taxable Revenue Refunding Bonds, Series B, Green Bond, 2.13%, 7/1/32, (Callable 7/1/31 @ 100) | 1,215,000 | 927,876 |
Principal Amount | Value | ||
North Texas Tollway Authority Taxable Revenue Refunding Bonds, Series 2021A, 2.08%, 1/1/31 | $ 100,000 | $ 79,032 | |
Northwest Independent School District Taxable G.O. Unlimited Refunding Bonds, Series A (PSF, Gtd.), 1.97%, 2/15/34, (Callable 2/15/30 @ 100) | 600,000 | 431,132 | |
Uptown Development Authority Contract Tax Allocation Increment Revenue Bonds, Series B (AGM Insured), 2.58%, 9/1/31 | 100,000 | 79,501 | |
TOTAL MUNICIPAL BONDS (COST $6,005,061) | 4,535,690 | ||
U.S. GOVERNMENT AGENCIES (21.8%) | |||
Federal Farm Credit Bank, 3.00%, 11/25/30 | 1,000,000 | 882,735 | |
Federal Home Loan Bank | |||
0.70%, 9/30/26, (Callable 12/30/22 @ 100) (b) | 2,000,000 | 1,751,277 | |
0.75%, 7/29/26, (Callable 1/29/23 @ 100) (b) | 1,000,000 | 888,990 | |
0.75%, 8/25/28, (Callable 8/25/23 @ 100) (b) | 1,350,000 | 1,119,570 | |
0.75%, 9/30/27, (Callable 12/30/22 @ 100) (b) | 800,000 | 687,148 | |
0.80%, 3/8/27, (Callable 11/8/22 @ 100) | 1,000,000 | 848,908 | |
0.80%, 3/30/26, (Callable 12/30/22 @ 100) (b) | 1,000,000 | 893,892 | |
0.80%, 4/13/26, (Callable 1/13/23 @ 100) (b) | 1,000,000 | 893,537 | |
0.85%, 2/26/26, (Callable 11/26/22 @ 100) | 1,000,000 | 879,959 | |
0.88%, 3/23/26, (Callable 12/23/22 @ 100) | 1,000,000 | 879,797 | |
0.90%, 12/1/27, (Callable 11/8/22 @ 100) | 2,000,000 | 1,663,735 | |
1.00%, 4/29/31, (Callable 1/29/23 @ 100) (b) | 730,769 | 606,530 | |
1.00%, 7/29/26, (Callable 1/29/23 @ 100) | 1,000,000 | 875,269 | |
1.00%, 3/16/27, (Callable 12/16/22 @ 100) | 2,000,000 | 1,711,909 | |
1.07%, 1/25/30, (Callable 11/8/22 @ 100) | 1,000,000 | 777,577 | |
2.00%, 3/10/27, (Callable 12/10/22 @ 100) (b) | 1,000,000 | 927,103 | |
2.75%, 2/22/34, (Callable 11/8/22 @ 100) | 1,000,000 | 799,013 | |
3.00%, 2/24/37, (Callable 11/8/22 @ 100) | 1,000,000 | 766,753 | |
3.00%, 10/27/23 | 1,000,000 | 980,747 | |
3.10%, 5/10/27, (Callable 5/10/24 @ 100) | 1,000,000 | 932,357 | |
3.50%, 5/24/27, (Callable 11/24/22 @ 100) (b) | 1,000,000 | 956,059 | |
3.65%, 5/26/27, (Callable 5/26/23 @ 100) | 1,000,000 | 945,134 | |
20,785,264 | |||
Federal Home Loan Mortgage Corp. | |||
0.80%, 10/27/26, (Callable 1/27/23 @ 100) | 1,000,000 | 861,075 |
Principal Amount | Value | ||
1.05%, 7/21/28, (Callable 1/21/23 @ 100) | $ 1,000,000 | $ 818,362 | |
2.00%, 12/24/24, (Callable 12/24/22 @ 100) | 1,000,000 | 941,959 | |
3.50%, 8/15/25, (Callable 11/15/22 @ 100) (b) | 1,000,000 | 989,357 | |
3,610,753 | |||
Federal National Mortgage Association | |||
0.40%, 10/29/24, (Callable 4/29/23 @ 100) | 1,000,000 | 916,679 | |
0.55%, 8/19/25, (Callable 8/19/23 @ 100) | 1,000,000 | 890,893 | |
0.56%, 10/28/25, (Callable 10/28/23 @ 100) | 1,000,000 | 884,629 | |
0.58%, 8/25/25, (Callable 11/25/22 @ 100) | 1,000,000 | 891,135 | |
0.60%, 8/28/25, (Callable 11/28/22 @ 100) | 1,000,000 | 891,391 | |
4,474,727 | |||
TOTAL U.S. GOVERNMENT AGENCIES (COST $33,865,215) | 29,753,479 | ||
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS (5.0%) | |||
Federal Home Loan Mortgage Corp. | |||
2.04% (US0012M + 179 bps), 10/1/37(a) | 7,924 | 7,758 | |
3.00%, 7/15/41 | 917,303 | 883,460 | |
3.25% (H15T1Y + 225 bps), 5/1/36(a) | 12,474 | 12,268 | |
3.50%, 2/1/34 | 182,769 | 173,024 | |
3.50%, 10/1/49 | 244,370 | 217,366 | |
3.50%, 12/15/48 | 419,820 | 390,157 | |
4.00%, 12/15/25 | 2,500,000 | 2,445,301 | |
5.00%, 11/1/37 | 4,948 | 4,835 | |
6.00%, 3/1/38 | 15,517 | 16,018 | |
4,150,187 | |||
Federal National Mortgage Association | |||
1.50%, 11/25/44 | 1,607,881 | 1,366,062 | |
2.29% (US0012M + 204 bps), 10/1/36(a) | 15,209 | 15,025 | |
3.50%, 2/1/43 | 135,683 | 123,024 | |
3.50%, 4/1/48 | 419,461 | 376,647 | |
3.57% (US0012M + 182 bps), 5/1/36(a) | 35,900 | 36,064 | |
4.00%, 9/1/33 | 124,123 | 118,948 | |
4.00%, 10/1/46 | 284,648 | 266,216 | |
4.01% (US0001M + 42 bps), 11/25/36(a) | 26,027 | 25,629 | |
6.00%, 6/1/36 | 80,383 | 80,351 | |
6.00%, 9/1/36 | 8,810 | 8,780 | |
6.00%, 5/1/37 | 23,365 | 23,648 | |
2,440,394 | |||
Government National Mortgage Association |
Principal Amount | Value | ||
2.63% (H15T1Y + 150 bps), 1/20/39(a) | $ 8,834 | $ 8,619 | |
4.50%, 6/15/40 | 65,737 | 63,963 | |
4.50%, 8/20/38 | 27,948 | 26,921 | |
5.00%, 5/20/40 | 32,718 | 32,068 | |
5.50%, 12/20/38 | 1,496 | 1,493 | |
6.00%, 10/15/37 | 18,172 | 19,148 | |
6.00%, 6/15/37 | 17,631 | 18,385 | |
6.50%, 10/20/38 | 1,699 | 1,690 | |
172,287 | |||
TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS (COST $7,389,232) | 6,762,868 | ||
U.S. TREASURY OBLIGATIONS (3.0%) | |||
U.S. Treasury Bond, 1.13%, 5/15/40 | 2,000,000 | 1,193,828 | |
U.S. Treasury Inflationary Index Note, 0.38%, 1/15/27 | 1,226,080 | 1,158,694 | |
U.S. Treasury Notes | |||
1.63%, 11/30/26 | 1,000,000 | 899,609 | |
1.75%, 11/15/29 | 1,000,000 | 858,633 | |
1,758,242 | |||
TOTAL U.S. TREASURY OBLIGATIONS (COST $5,203,150) | 4,110,764 |
Shares | Value | ||
MONEY MARKET FUND (1.1%) | |||
Northern Institutional Treasury Portfolio (Premier Class), 2.48%(c) | 1,497,196 | $ 1,497,196 | |
TOTAL MONEY MARKET FUND (COST $1,497,196) | 1,497,196 |
Shares | Value | ||
TOTAL INVESTMENTS (COST $158,150,212) 99.3% | $ 135,594,329 | ||
OTHER ASSETS IN EXCESS OF LIABILITIES 0.7% | 999,391 | ||
NET ASSETS 100.0% | $ 136,593,720 | ||
(a) | Variable rate security. The interest rate shown represents the rate in effect at October 31, 2022. For securities based on published reference rate and spread, the reference rate and spread are indicated in the description. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(b) | Step Bond. Coupon rate is set for an initial period and then adjusted at a specified date. The rate shown represents the rate as of October 31, 2022. |
(c) | 7-day current yield as of October 31, 2022 is disclosed. |
AGM — Assured Guarantee Municipal Corporation |
G.O. — General Obligation |
Gtd. — Guaranteed |
H15T1Y — 1 Year Treasury Constant Maturity Rate |
PSF — Permanent School Fund |
US0001M — 1 Month US Dollar LIBOR |
US0012M — 12 Month US Dollar LIBOR |
The table below sets forth the diversification of the Steward Small Cap Growth Fund investments by Industry.
Industry Diversification | Percent* | |
Software | 16.6% | |
Health Care Equipment & Supplies | 8.7 | |
Machinery | 5.6 | |
Biotechnology | 5.1 | |
Food Products | 4.9 | |
Health Care Providers & Services | 4.7 | |
Oil, Gas & Consumable Fuels | 4.2 | |
Pharmaceuticals | 3.5 | |
Hotels, Restaurants & Leisure | 3.2 | |
Semiconductors & Semiconductor Equipment | 3.2 | |
Independent Power and Renewable Electricity Producers | 2.9 | |
Diversified Consumer Services | 2.8 | |
Diversified Telecommunication Services | 2.2 | |
Entertainment | 2.1 | |
Media | 2.1 | |
Capital Markets | 2.0 | |
Trading Companies & Distributors | 2.0 | |
Commercial Services & Supplies | 1.9 | |
Health Care Technology | 1.9 | |
IT Services | 1.9 |
Industry Diversification | Percent* | |
Equity Real Estate Investment Trusts | 1.8% | |
Chemicals | 1.7 | |
Life Sciences Tools & Services | 1.6 | |
Electrical Equipment | 1.5 | |
Specialty Retail | 1.5 | |
Road & Rail | 1.3 | |
Air Freight & Logistics | 1.0 | |
Auto Components | 1.0 | |
Building Products | 1.0 | |
Real Estate Management & Development | 1.0 | |
Metals & Mining | 0.9 | |
Insurance | 0.8 | |
Banks | 0.7 | |
Professional Services | 0.7 | |
Money Market Fund | 0.6 | |
Electronic Equipment, Instruments & Components | 0.5 | |
Leisure Products | 0.5 | |
Household Durables | 0.4 | |
Total Investments | 100.0% |
* | Percentages indicated are based on net assets as of October 31, 2022. |
Shares | Value | ||
COMMON STOCKS (99.4%) | |||
AIR FREIGHT & LOGISTICS (1.0%) | |||
Forward Air Corp. | 2,200 | $ 232,914 | |
AUTO COMPONENTS (1.0%) | |||
Visteon Corp.(a) | 1,780 | 232,237 | |
BANKS (0.7%) | |||
Silvergate Capital Corp., Class A(a) | 2,690 | 152,684 | |
BIOTECHNOLOGY (5.1%) | |||
Arrowhead Pharmaceuticals, Inc.(a) | 1,880 | 65,443 | |
Bioxcel Therapeutics, Inc.(a) | 12,000 | 151,080 | |
Halozyme Therapeutics, Inc.(a) | 11,240 | 537,384 | |
Intellia Therapeutics, Inc.(a) | 2,320 | 122,450 | |
Natera, Inc.(a) | 5,160 | 242,314 | |
Twist Bioscience Corp.(a) | 2,040 | 66,973 | |
1,185,644 | |||
BUILDING PRODUCTS (1.0%) | |||
Simpson Manufacturing Co., Inc. | 2,700 | 230,796 | |
CAPITAL MARKETS (2.0%) | |||
Cboe Global Markets, Inc. | 3,660 | 455,670 | |
CHEMICALS (1.7%) | |||
Aspen Aerogels, Inc.(a) | 6,950 | 88,126 | |
Sensient Technologies Corp. | 4,270 | 305,134 | |
393,260 | |||
COMMERCIAL SERVICES & SUPPLIES (1.9%) | |||
Casella Waste Systems, Inc., Class A(a) | 4,160 | 340,330 | |
Heritage-Crystal Clean, Inc.(a) | 3,700 | 101,639 | |
441,969 | |||
DIVERSIFIED CONSUMER SERVICES (2.8%) | |||
Chegg, Inc.(a) | 15,690 | 338,433 | |
Grand Canyon Education, Inc.(a) | 3,130 | 314,972 | |
653,405 | |||
DIVERSIFIED TELECOMMUNICATION SERVICES (2.2%) | |||
Iridium Communications, Inc.(a) | 10,000 | 515,300 | |
ELECTRICAL EQUIPMENT (1.5%) | |||
Bloom Energy Corp., Class A(a) | 9,430 | 176,435 | |
Plug Power, Inc.(a) | 11,350 | 181,373 | |
357,808 |
Shares | Value | ||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS (0.5%) | |||
908 Devices, Inc.(a) | 7,590 | $ 121,364 | |
ENTERTAINMENT (2.1%) | |||
World Wrestling Entertainment, Inc., Class A | 6,270 | 494,640 | |
EQUITY REAL ESTATE INVESTMENT TRUSTS (1.8%) | |||
National Storage Affiliates Trust | 10,000 | 426,600 | |
FOOD PRODUCTS (4.9%) | |||
Calavo Growers, Inc. | 10,090 | 349,013 | |
Lamb Weston Holdings, Inc. | 5,000 | 431,100 | |
Lancaster Colony Corp. | 2,000 | 360,560 | |
1,140,673 | |||
HEALTH CARE EQUIPMENT & SUPPLIES (8.7%) | |||
Figs, Inc., Class A(a) | 13,150 | 97,047 | |
Inmode Ltd.(a) | 8,780 | 301,329 | |
Inspire Medical Systems, Inc.(a) | 1,780 | 347,011 | |
Omnicell, Inc.(a) | 2,990 | 231,187 | |
Outset Medical, Inc.(a) | 9,270 | 144,056 | |
PROCEPT BioRobotics Corp.(a) | 7,400 | 336,182 | |
Shockwave Medical, Inc.(a) | 2,000 | 586,300 | |
2,043,112 | |||
HEALTH CARE PROVIDERS & SERVICES (4.7%) | |||
HealthEquity, Inc.(a) | 8,330 | 648,990 | |
Joint Corp. (The)(a) | 5,930 | 97,964 | |
R1 RCM, Inc.(a) | 20,410 | 360,440 | |
1,107,394 | |||
HEALTH CARE TECHNOLOGY (1.9%) | |||
Doximity, Inc., Class A(a) | 3,410 | 90,263 | |
Health Catalyst, Inc.(a) | 12,930 | 114,042 | |
NextGen Healthcare, Inc.(a) | 12,000 | 240,480 | |
444,785 | |||
HOTELS, RESTAURANTS & LEISURE (3.2%) | |||
Choice Hotels International, Inc. | 1,850 | 240,204 | |
First Watch Restaurant Group, Inc.(a) | 15,850 | 270,242 | |
Papa John's International, Inc. | 3,290 | 238,953 | |
749,399 | |||
HOUSEHOLD DURABLES (0.4%) | |||
Lovesac (The), Co.(a) | 4,270 | 103,932 |
Shares | Value | ||
INDEPENDENT POWER AND RENEWABLE ELECTRICITY PRODUCERS (2.9%) | |||
Clearway Energy, Inc., Class C | 9,170 | $ 318,566 | |
Vistra Corp. | 16,000 | 367,520 | |
686,086 | |||
INSURANCE (0.8%) | |||
Trupanion, Inc.(a) | 3,780 | 190,777 | |
IT SERVICES (1.9%) | |||
DigitalOcean Holdings, Inc.(a) | 8,800 | 316,096 | |
International Money Express, Inc.(a) | 5,000 | 135,150 | |
451,246 | |||
LEISURE PRODUCTS (0.5%) | |||
YETI Holdings, Inc.(a) | 3,500 | 112,280 | |
LIFE SCIENCES TOOLS & SERVICES (1.6%) | |||
Medpace Holdings, Inc.(a) | 1,400 | 310,772 | |
NeoGenomics, Inc.(a) | 9,610 | 73,084 | |
383,856 | |||
MACHINERY (5.6%) | |||
Chart Industries, Inc.(a) | 1,400 | 312,032 | |
Donaldson Co., Inc. | 5,280 | 303,336 | |
ESCO Technologies, Inc. | 3,930 | 338,648 | |
John Bean Technologies Corp. | 2,550 | 232,560 | |
Symbotic, Inc.(a) | 9,000 | 111,060 | |
1,297,636 | |||
MEDIA (2.1%) | |||
TechTarget, Inc.(a) | 4,590 | 296,284 | |
WideOpenWest, Inc.(a) | 13,680 | 187,553 | |
483,837 | |||
METALS & MINING (0.9%) | |||
MP Materials Corp.(a) | 6,710 | 201,568 | |
OIL, GAS & CONSUMABLE FUELS (4.2%) | |||
Gulfport Energy Corp.(a) | 2,400 | 214,824 | |
Magnolia Oil & Gas Corp., Class A | 15,090 | 387,511 | |
Matador Resources Co. | 4,000 | 265,800 | |
SilverBow Resources, Inc.(a) | 3,500 | 124,145 | |
992,280 | |||
PHARMACEUTICALS (3.5%) | |||
Amphastar Pharmaceuticals, Inc.(a) | 7,710 | 238,239 | |
Intra-Cellular Therapies, Inc.(a) | 6,680 | 305,076 | |
Pacira BioSciences, Inc.(a) | 5,250 | 271,740 | |
815,055 |
Shares | Value | ||
PROFESSIONAL SERVICES (0.7%) | |||
Upwork, Inc.(a) | 12,130 | $ 163,149 | |
REAL ESTATE MANAGEMENT & DEVELOPMENT (1.0%) | |||
Tricon Residential, Inc. | 26,490 | 223,311 | |
ROAD & RAIL (1.3%) | |||
Landstar System, Inc. | 1,904 | 297,443 | |
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (3.2%) | |||
Lattice Semiconductor Corp.(a) | 5,580 | 270,686 | |
Navitas Semiconductor Corp.(a) | 38,000 | 159,980 | |
Silicon Laboratories, Inc.(a) | 2,820 | 324,074 | |
754,740 | |||
SOFTWARE (16.6%) | |||
Appian Corp., Class A(a) | 7,490 | 365,662 | |
Blackline, Inc.(a) | 4,900 | 274,400 | |
Box, Inc., Class A(a) | 18,230 | 529,581 | |
Five9, Inc.(a) | 4,100 | 247,066 | |
Gitlab, Inc., Class A(a) | 2,260 | 109,520 | |
KnowBe4, Inc., Class A(a) | 10,000 | 245,800 | |
Manhattan Associates, Inc.(a) | 2,250 | 273,757 | |
Q2 Holdings, Inc.(a) | 6,610 | 205,174 | |
Qualys, Inc.(a) | 3,630 | 517,493 | |
Rapid7, Inc.(a) | 5,450 | 246,722 | |
Sprout Social, Inc., Class A(a) | 4,030 | 243,130 | |
Varonis Systems, Inc.(a) | 11,900 | 318,563 | |
Workiva, Inc.(a) | 3,860 | 300,347 | |
3,877,215 | |||
SPECIALTY RETAIL (1.5%) | |||
Academy Sports & Outdoors, Inc. | 7,860 | 346,076 | |
TRADING COMPANIES & DISTRIBUTORS (2.0%) | |||
Karat Packaging, Inc.(a) | 15,756 | 258,083 | |
SiteOne Landscape Supply, Inc.(a) | 1,750 | 202,773 | |
460,856 | |||
TOTAL COMMON STOCKS (COST $30,569,367) | 23,220,997 | ||
MONEY MARKET FUND (0.6%) | |||
Northern Institutional Treasury Portfolio (Premier Class), 2.48%(b) | 138,561 | 138,561 | |
TOTAL MONEY MARKET FUND (COST $138,561) | 138,561 | ||
TOTAL INVESTMENTS (COST $30,707,928) 100.0% | 23,359,558 | ||
Shares | Value | ||
LIABILITIES IN EXCESS OF OTHER ASSETS 0.0% | $ (7,121) | ||
NET ASSETS 100.0% | $ 23,352,437 | ||
(a) | Represents non-income producing security. |
(b) | 7-day current yield as of October 31, 2022 is disclosed. |
Industry Diversification | Percent* | |
Software | 8.6% | |
Technology Hardware, Storage & Peripherals | 7.1 | |
IT Services | 4.7 | |
Semiconductors & Semiconductor Equipment | 4.7 | |
Oil, Gas & Consumable Fuels | 4.6 | |
Banks | 3.7 | |
Interactive Media & Services | 3.7 | |
Capital Markets | 3.3 | |
Health Care Equipment & Supplies | 3.2 | |
Equity Real Estate Investment Trusts | 3.1 | |
Health Care Providers & Services | 3.1 | |
Internet & Direct Marketing Retail | 2.6 | |
Specialty Retail | 2.6 | |
Insurance | 2.5 | |
Biotechnology | 2.3 | |
Electric Utilities | 2.1 | |
Life Sciences Tools & Services | 2.1 | |
Automobiles | 2.0 | |
Beverages | 2.0 | |
Aerospace & Defense | 1.8 | |
Chemicals | 1.8 | |
Food Products | 1.8 | |
Food & Staples Retailing | 1.7 | |
Household Products | 1.7 | |
Machinery | 1.7 | |
Diversified Financial Services | 1.6 | |
Hotels, Restaurants & Leisure | 1.6 | |
Pharmaceuticals | 1.5 | |
Entertainment | 1.4 | |
Communications Equipment | 1.1 | |
Multi-Utilities | 1.1 | |
Diversified Telecommunication Services | 1.0 | |
Electronic Equipment, Instruments & Components | 1.0 |
Industry Diversification | Percent* | |
Road & Rail | 1.0% | |
Air Freight & Logistics | 0.8 | |
Building Products | 0.8 | |
Media | 0.8 | |
Money Market Fund | 0.8 | |
Commercial Services & Supplies | 0.6 | |
Industrial Conglomerates | 0.6 | |
Multiline Retail | 0.6 | |
Consumer Finance | 0.5 | |
Containers & Packaging | 0.5 | |
Electrical Equipment | 0.5 | |
Distributors | 0.4 | |
Energy Equipment & Services | 0.4 | |
Textiles, Apparel & Luxury Goods | 0.4 | |
Metals & Mining | 0.3 | |
Professional Services | 0.3 | |
Trading Companies & Distributors | 0.3 | |
Wireless Telecommunication Services | 0.3 | |
Airlines | 0.2 | |
Household Durables | 0.2 | |
Real Estate Management & Development | 0.2 | |
Auto Components | 0.1 | |
Construction Materials | 0.1 | |
Gas Utilities | 0.1 | |
Independent Power and Renewable Electricity Producers | 0.1 | |
Leisure Products | 0.1 | |
Personal Products | 0.1 | |
Water Utilities | 0.1 | |
Construction & Engineering | 0.0** | |
Total Investments | 100.0% |
* | Percentages indicated are based on net assets as of October 31, 2022. |
** | Amount rounds to less than 0.1%. |
Shares | Value | ||
COMMON STOCKS (99.2%) | |||
AEROSPACE & DEFENSE (1.8%) | |||
Boeing Co. (The)(a) | 3,034 | $ 432,375 | |
General Dynamics Corp. | 1,554 | 388,189 | |
Howmet Aerospace, Inc. | 2,863 | 101,780 | |
Huntington Ingalls Industries, Inc. | 152 | 39,075 | |
L3Harris Technologies, Inc. | 1,248 | 307,594 | |
Lockheed Martin Corp. | 1,629 | 792,802 | |
Northrop Grumman Corp. | 967 | 530,893 | |
Raytheon Technologies Corp. | 9,051 | 858,216 | |
Textron, Inc. | 1,100 | 75,284 | |
TransDigm Group, Inc. | 158 | 90,970 | |
3,617,178 | |||
AIR FREIGHT & LOGISTICS (0.8%) | |||
C.H. Robinson Worldwide, Inc. | 2,770 | 270,684 | |
Expeditors International of Washington, Inc. | 3,360 | 328,776 | |
FedEx Corp. | 1,316 | 210,929 | |
United Parcel Service, Inc., Class B | 4,430 | 743,221 | |
1,553,610 | |||
AIRLINES (0.2%) | |||
Alaska Air Group, Inc.(a) | 480 | 21,341 | |
American Airlines Group, Inc.(a) | 5,650 | 80,117 | |
Delta Air Lines, Inc.(a) | 4,500 | 152,685 | |
Southwest Airlines Co.(a) | 4,040 | 146,854 | |
United Airlines Holdings, Inc.(a) | 1,020 | 43,941 | |
444,938 | |||
AUTO COMPONENTS (0.1%) | |||
Aptiv PLC(a) | 2,940 | 267,746 | |
BorgWarner, Inc. | 1,280 | 48,038 | |
315,784 | |||
AUTOMOBILES (2.0%) | |||
Ford Motor Co. | 26,960 | 360,455 | |
General Motors Co. | 8,190 | 321,458 | |
Tesla, Inc.(a) | 15,310 | 3,483,637 | |
4,165,550 | |||
BANKS (3.7%) | |||
Bank of America Corp. | 45,059 | 1,623,926 | |
Citigroup, Inc. | 11,190 | 513,174 | |
Citizens Financial Group, Inc. | 2,290 | 93,661 | |
Comerica, Inc. | 420 | 29,610 | |
Fifth Third Bancorp | 5,090 | 181,662 | |
First Republic Bank | 760 | 91,276 | |
Huntington Bancshares, Inc. | 12,350 | 187,473 |
Shares | Value | ||
JPMorgan Chase & Co. | 17,094 | $ 2,151,793 | |
KeyCorp | 7,900 | 141,173 | |
M&T Bank Corp. | 990 | 166,686 | |
PNC Financial Services Group, Inc. (The) | 2,204 | 356,673 | |
Regions Financial Corp. | 7,892 | 173,229 | |
Signature Bank | 170 | 26,950 | |
SVB Financial Group(a) | 227 | 52,428 | |
Truist Financial Corp. | 8,047 | 360,425 | |
U.S. Bancorp | 8,680 | 368,466 | |
Wells Fargo & Co. | 23,148 | 1,064,577 | |
Zions Bancorp | 730 | 37,916 | |
7,621,098 | |||
BEVERAGES (2.0%) | |||
Coca-Cola Co. (The) | 28,460 | 1,703,331 | |
Keurig Dr Pepper, Inc. | 3,580 | 139,047 | |
Monster Beverage Corp.(a) | 3,240 | 303,653 | |
PepsiCo, Inc. | 11,221 | 2,037,509 | |
4,183,540 | |||
BIOTECHNOLOGY (2.3%) | |||
AbbVie, Inc. | 12,080 | 1,768,512 | |
Amgen, Inc. | 4,348 | 1,175,482 | |
Biogen, Inc.(a) | 1,104 | 312,918 | |
Gilead Sciences, Inc. | 11,640 | 913,274 | |
Incyte Corp.(a) | 2,910 | 216,329 | |
Moderna, Inc.(a) | 2,190 | 329,223 | |
4,715,738 | |||
BUILDING PRODUCTS (0.8%) | |||
A.O. Smith Corp. | 1,000 | 54,780 | |
Allegion PLC | 403 | 42,222 | |
Carrier Global Corp. | 10,756 | 427,659 | |
Fortune Brands Home & Security, Inc. | 620 | 37,398 | |
Johnson Controls International PLC | 8,141 | 470,876 | |
Masco Corp. | 2,370 | 109,660 | |
Trane Technologies PLC | 2,900 | 462,927 | |
1,605,522 | |||
CAPITAL MARKETS (3.3%) | |||
Ameriprise Financial, Inc. | 606 | 187,327 | |
Bank of New York Mellon Corp. (The) | 5,421 | 228,278 | |
BlackRock, Inc. | 886 | 572,276 | |
Cboe Global Markets, Inc. | 860 | 107,070 | |
Charles Schwab Corp. (The) | 9,230 | 735,354 | |
CME Group, Inc. | 2,310 | 400,323 | |
FactSet Research Systems, Inc. | 330 | 140,412 | |
Franklin Resources, Inc. | 2,300 | 53,935 |
Shares | Value | ||
Goldman Sachs Group, Inc. (The) | 1,822 | $ 627,697 | |
Intercontinental Exchange, Inc. | 3,715 | 355,043 | |
Invesco Ltd. | 2,500 | 38,300 | |
MarketAxess Holdings, Inc. | 1,080 | 263,563 | |
Moody's Corp. | 1,808 | 478,885 | |
Morgan Stanley | 8,376 | 688,256 | |
MSCI, Inc. | 472 | 221,302 | |
Nasdaq, Inc. | 2,670 | 166,181 | |
Northern Trust Corp. | 1,290 | 108,811 | |
Raymond James Financial, Inc. | 1,290 | 152,401 | |
S&P Global, Inc. | 2,672 | 858,380 | |
State Street Corp. | 2,217 | 164,058 | |
T. Rowe Price Group, Inc. | 1,520 | 161,363 | |
6,709,215 | |||
CHEMICALS (1.8%) | |||
Air Products and Chemicals, Inc. | 1,273 | 318,759 | |
Albemarle Corp. | 660 | 184,714 | |
Celanese Corp. | 590 | 56,711 | |
CF Industries Holdings, Inc. | 1,340 | 142,388 | |
Corteva, Inc. | 5,125 | 334,868 | |
Dow, Inc. | 4,892 | 228,652 | |
DuPont de Nemours, Inc. | 3,035 | 173,602 | |
Eastman Chemical Co. | 320 | 24,579 | |
Ecolab, Inc. | 1,416 | 222,411 | |
FMC Corp. | 650 | 77,285 | |
International Flavors & Fragrances, Inc. | 1,480 | 144,463 | |
Linde PLC | 3,793 | 1,127,849 | |
LyondellBasell Industries N.V., Class A | 1,530 | 116,969 | |
Mosaic Co. (The) | 2,380 | 127,925 | |
PPG Industries, Inc. | 1,408 | 160,765 | |
Sherwin-Williams Co. (The) | 1,503 | 338,220 | |
3,780,160 | |||
COMMERCIAL SERVICES & SUPPLIES (0.6%) | |||
Cintas Corp. | 604 | 258,240 | |
Copart, Inc.(a) | 1,330 | 152,977 | |
Republic Services, Inc. | 1,716 | 227,576 | |
Rollins, Inc. | 2,895 | 121,822 | |
Waste Management, Inc. | 2,860 | 452,938 | |
1,213,553 | |||
COMMUNICATIONS EQUIPMENT (1.1%) | |||
Arista Networks, Inc.(a) | 1,454 | 175,731 | |
Cisco Systems, Inc. | 31,940 | 1,451,034 | |
F5, Inc.(a) | 270 | 38,586 |
Shares | Value | ||
Juniper Networks, Inc. | 2,860 | $ 87,516 | |
Motorola Solutions, Inc. | 1,971 | 492,178 | |
2,245,045 | |||
CONSTRUCTION & ENGINEERING (0.0%) | |||
Quanta Services, Inc. | 600 | 85,224 | |
CONSTRUCTION MATERIALS (0.1%) | |||
Martin Marietta Materials, Inc. | 256 | 86,011 | |
Vulcan Materials Co. | 783 | 128,177 | |
214,188 | |||
CONSUMER FINANCE (0.5%) | |||
American Express Co. | 3,710 | 550,750 | |
Capital One Financial Corp. | 2,078 | 220,310 | |
Discover Financial Services | 1,740 | 181,760 | |
Synchrony Financial | 4,120 | 146,507 | |
1,099,327 | |||
CONTAINERS & PACKAGING (0.5%) | |||
Amcor PLC | 31,380 | 363,380 | |
Avery Dennison Corp. | 540 | 91,557 | |
Ball Corp. | 5,080 | 250,901 | |
International Paper Co. | 3,890 | 130,743 | |
Packaging Corp. of America | 890 | 106,987 | |
Sealed Air Corp. | 1,390 | 66,192 | |
Westrock Co. | 2,099 | 71,492 | |
1,081,252 | |||
DISTRIBUTORS (0.4%) | |||
Genuine Parts Co. | 850 | 151,181 | |
LKQ Corp. | 6,260 | 348,306 | |
Pool Corp. | 790 | 240,342 | |
739,829 | |||
DIVERSIFIED FINANCIAL SERVICES (1.6%) | |||
Berkshire Hathaway, Inc., Class B(a) | 10,867 | 3,206,743 | |
DIVERSIFIED TELECOMMUNICATION SERVICES (1.0%) | |||
AT&T, Inc. | 50,620 | 922,802 | |
Lumen Technologies, Inc. | 8,539 | 62,847 | |
Verizon Communications, Inc. | 28,210 | 1,054,208 | |
2,039,857 | |||
ELECTRIC UTILITIES (2.1%) | |||
Alliant Energy Corp. | 2,090 | 109,035 | |
American Electric Power Co., Inc. | 3,530 | 310,358 |
Shares | Value | ||
Constellation Energy Corp. | 2,119 | $ 200,330 | |
Duke Energy Corp. | 5,124 | 477,454 | |
Edison International | 2,390 | 143,496 | |
Entergy Corp. | 960 | 102,854 | |
Evergy, Inc. | 1,840 | 112,479 | |
Eversource Energy | 3,670 | 279,948 | |
Exelon Corp. | 7,559 | 291,702 | |
FirstEnergy Corp. | 4,259 | 160,607 | |
NextEra Energy, Inc. | 12,186 | 944,415 | |
NRG Energy, Inc. | 2,260 | 100,344 | |
Pinnacle West Capital Corp. | 510 | 34,277 | |
PPL Corp. | 7,780 | 206,092 | |
Southern Co. (The) | 8,430 | 551,997 | |
Xcel Energy, Inc. | 4,420 | 287,786 | |
4,313,174 | |||
ELECTRICAL EQUIPMENT (0.5%) | |||
AMETEK, Inc. | 1,520 | 197,083 | |
Eaton Corp. PLC | 2,500 | 375,175 | |
Emerson Electric Co. | 3,930 | 340,338 | |
Generac Holdings, Inc.(a) | 280 | 32,455 | |
Rockwell Automation, Inc. | 686 | 175,136 | |
1,120,187 | |||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS (1.0%) | |||
Amphenol Corp., Class A | 4,350 | 329,861 | |
CDW Corp. | 860 | 148,617 | |
Corning, Inc. | 5,970 | 192,055 | |
Keysight Technologies, Inc.(a) | 2,550 | 444,082 | |
TE Connectivity Ltd. | 1,950 | 238,349 | |
Teledyne Technologies, Inc.(a) | 281 | 111,832 | |
Trimble, Inc.(a) | 4,690 | 282,150 | |
Zebra Technologies Corp., Class A(a) | 890 | 252,066 | |
1,999,012 | |||
ENERGY EQUIPMENT & SERVICES (0.4%) | |||
Baker Hughes Co. | 6,429 | 177,826 | |
Halliburton Co. | 4,920 | 179,187 | |
Schlumberger N.V. | 9,074 | 472,120 | |
829,133 | |||
ENTERTAINMENT (1.4%) | |||
Activision Blizzard, Inc. | 4,970 | 361,816 | |
Electronic Arts, Inc. | 3,570 | 449,677 | |
Live Nation, Inc.(a) | 740 | 58,911 | |
Netflix, Inc.(a) | 2,450 | 715,106 |
Shares | Value | ||
Walt Disney Co. (The)(a) | 10,640 | $ 1,133,586 | |
Warner Bros Discovery, Inc.(a) | 15,946 | 207,298 | |
2,926,394 | |||
EQUITY REAL ESTATE INVESTMENT TRUSTS (3.1%) | |||
Alexandria Real Estate Equities, Inc. | 820 | 119,146 | |
American Tower Corp. | 3,569 | 739,461 | |
AvalonBay Communities, Inc. | 699 | 122,409 | |
Boston Properties, Inc. | 2,480 | 180,296 | |
Camden Property Trust | 380 | 43,909 | |
Crown Castle, Inc. | 3,840 | 511,718 | |
Digital Realty Trust, Inc. | 1,690 | 169,422 | |
Equinix, Inc. | 863 | 488,838 | |
Equity Residential | 3,340 | 210,487 | |
Essex Property Trust, Inc. | 307 | 68,228 | |
Extra Space Storage, Inc. | 820 | 145,501 | |
Federal Realty Investment Trust | 160 | 15,837 | |
Host Hotels & Resorts, Inc. | 6,193 | 116,924 | |
Iron Mountain, Inc. | 5,069 | 253,805 | |
Kimco Realty Corp. | 5,150 | 110,107 | |
Mid-America Apartment Communities, Inc. | 670 | 105,491 | |
Prologis, Inc. | 8,542 | 946,082 | |
Public Storage | 1,056 | 327,096 | |
Realty Income Corp. | 3,880 | 241,608 | |
Regency Centers Corp. | 2,750 | 166,402 | |
SBA Communications Corp. | 1,311 | 353,839 | |
Simon Property Group, Inc. | 1,690 | 184,176 | |
UDR, Inc. | 2,330 | 92,641 | |
VICI Properties, Inc. | 1,100 | 35,222 | |
Vornado Realty Trust | 825 | 19,462 | |
Welltower, Inc. | 5,140 | 313,745 | |
Weyerhaeuser Co. | 7,139 | 220,809 | |
6,302,661 | |||
FOOD & STAPLES RETAILING (1.7%) | |||
Costco Wholesale Corp. | 2,776 | 1,392,164 | |
Kroger Co. (The) | 4,910 | 232,194 | |
Sysco Corp. | 3,220 | 278,723 | |
Walgreens Boots Alliance, Inc. | 4,870 | 177,755 | |
Walmart, Inc. | 9,700 | 1,380,601 | |
3,461,437 | |||
FOOD PRODUCTS (1.8%) | |||
Archer-Daniels-Midland Co. | 4,000 | 387,920 | |
Campbell Soup Co. | 2,700 | 142,857 |
Shares | Value | ||
Conagra Brands, Inc. | 4,970 | $ 182,399 | |
General Mills, Inc. | 6,660 | 543,323 | |
Hershey Co. (The) | 1,640 | 391,583 | |
Hormel Foods Corp. | 4,450 | 206,702 | |
J.M. Smucker Co. (The) | 870 | 131,074 | |
Kellogg Co. | 3,850 | 295,757 | |
Kraft Heinz Co. (The) | 6,176 | 237,591 | |
Lamb Weston Holdings, Inc. | 1,000 | 86,220 | |
McCormick & Co., Inc. | 2,270 | 178,513 | |
Mondelez International, Inc., Class A | 11,090 | 681,813 | |
Tyson Foods, Inc., Class A | 2,210 | 151,054 | |
3,616,806 | |||
GAS UTILITIES (0.1%) | |||
Atmos Energy Corp. | 1,280 | 136,384 | |
HEALTH CARE EQUIPMENT & SUPPLIES (3.2%) | |||
Abbott Laboratories | 12,022 | 1,189,457 | |
ABIOMED, Inc.(a) | 333 | 83,943 | |
Align Technology, Inc.(a) | 457 | 88,795 | |
Baxter International, Inc. | 4,920 | 267,402 | |
Becton Dickinson and Co. | 2,376 | 560,665 | |
Boston Scientific Corp.(a) | 12,567 | 541,763 | |
Cooper Cos., Inc. (The) | 430 | 117,558 | |
DENTSPLY SIRONA, Inc. | 2,410 | 74,276 | |
DexCom, Inc.(a) | 2,400 | 289,872 | |
Edwards Lifesciences Corp.(a) | 4,631 | 335,423 | |
Hologic, Inc.(a) | 2,270 | 153,906 | |
IDEXX Laboratories, Inc.(a) | 600 | 215,808 | |
Intuitive Surgical, Inc.(a) | 2,317 | 571,071 | |
Medtronic PLC | 9,023 | 788,069 | |
ResMed, Inc. | 1,160 | 259,480 | |
STERIS PLC | 950 | 163,951 | |
Stryker Corp. | 2,484 | 569,432 | |
Teleflex, Inc. | 397 | 85,180 | |
Zimmer Holdings, Inc. | 1,620 | 183,627 | |
6,539,678 | |||
HEALTH CARE PROVIDERS & SERVICES (3.1%) | |||
AmerisourceBergen Corp. | 2,110 | 331,734 | |
Cardinal Health, Inc. | 5,350 | 406,065 | |
Cigna Corp. | 2,750 | 888,415 | |
CVS Health Corp. | 9,147 | 866,221 | |
DaVita, Inc.(a) | 770 | 56,218 | |
Elevance Health, Inc. | 3,000 | 1,640,310 | |
Henry Schein, Inc.(a) | 1,470 | 100,636 | |
Humana, Inc. | 1,547 | 863,350 |
Shares | Value | ||
Laboratory Corporation of America Holdings | 810 | $ 179,707 | |
McKesson Corp. | 1,335 | 519,809 | |
Molina Healthcare, Inc.(a) | 1,020 | 366,037 | |
Quest Diagnostics, Inc. | 1,220 | 175,253 | |
6,393,755 | |||
HOTELS, RESTAURANTS & LEISURE (1.6%) | |||
Booking Holdings, Inc.(a) | 216 | 403,808 | |
Carnival Corp.(a) | 6,190 | 56,081 | |
Chipotle Mexican Grill, Inc.(a) | 141 | 211,265 | |
Domino's Pizza, Inc. | 180 | 59,803 | |
Expedia Group, Inc.(a) | 685 | 64,027 | |
Hilton Worldwide Holdings, Inc. | 1,330 | 179,896 | |
Marriott International, Inc., Class A | 1,636 | 261,940 | |
McDonald's Corp. | 4,431 | 1,208,156 | |
Norwegian Cruise Line Holdings Ltd.(a) | 2,830 | 47,799 | |
Royal Caribbean Cruises Ltd.(a) | 710 | 37,900 | |
Starbucks Corp. | 6,790 | 587,946 | |
Yum! Brands, Inc. | 1,950 | 230,587 | |
3,349,208 | |||
HOUSEHOLD DURABLES (0.2%) | |||
D.R. Horton, Inc. | 956 | 73,497 | |
Garmin Ltd. | 960 | 84,518 | |
Lennar Corp., Class A | 120 | 9,684 | |
Mohawk Industries, Inc.(a) | 34 | 3,222 | |
Newell Brands, Inc. | 6,500 | 89,765 | |
NVR, Inc.(a) | 10 | 42,378 | |
PulteGroup, Inc. | 325 | 12,997 | |
Whirlpool Corp. | 192 | 26,542 | |
342,603 | |||
HOUSEHOLD PRODUCTS (1.7%) | |||
Church & Dwight Co., Inc. | 2,740 | 203,116 | |
Clorox Co. (The) | 1,010 | 147,500 | |
Colgate-Palmolive Co. | 8,480 | 626,163 | |
Kimberly-Clark Corp. | 3,000 | 373,380 | |
Procter & Gamble Co. (The) | 15,801 | 2,127,921 | |
3,478,080 | |||
INDEPENDENT POWER AND RENEWABLE ELECTRICITY PRODUCERS (0.1%) | |||
AES Corp. (The) | 5,250 | 137,340 |
Shares | Value | ||
INDUSTRIAL CONGLOMERATES (0.6%) | |||
3M Co. | 3,894 | $ 489,826 | |
Honeywell International, Inc. | 4,022 | 820,569 | |
1,310,395 | |||
INSURANCE (2.5%) | |||
Aflac, Inc. | 5,020 | 326,852 | |
Allstate Corp. (The) | 1,750 | 220,937 | |
American International Group, Inc. | 5,084 | 289,788 | |
Aon PLC, Class A | 1,351 | 380,293 | |
Arthur J. Gallagher & Co. | 1,360 | 254,429 | |
Assurant, Inc. | 370 | 50,268 | |
Brown & Brown, Inc. | 2,240 | 131,690 | |
Chubb Ltd. | 2,711 | 582,567 | |
Cincinnati Financial Corp. | 902 | 93,195 | |
Everest Re Group Ltd. | 290 | 93,571 | |
Globe Life, Inc. | 367 | 42,396 | |
Hartford Financial Services Group, Inc. (The) | 2,460 | 178,128 | |
Lincoln National Corp. | 486 | 26,181 | |
Loews Corp. | 880 | 50,178 | |
Marsh & McLennan Cos., Inc. | 3,210 | 518,383 | |
MetLife, Inc. | 6,810 | 498,560 | |
Principal Financial Group, Inc. | 1,760 | 155,109 | |
Progressive Corp. (The) | 4,070 | 522,588 | |
Prudential Financial, Inc. | 2,665 | 280,331 | |
Travelers Cos., Inc. (The) | 1,920 | 354,163 | |
W.R. Berkley Corp. | 615 | 45,744 | |
Willis Towers Watson PLC | 677 | 147,728 | |
5,243,079 | |||
INTERACTIVE MEDIA & SERVICES (3.7%) | |||
Alphabet, Inc., Class A(a) | 34,690 | 3,278,552 | |
Alphabet, Inc., Class C(a) | 31,680 | 2,998,829 | |
Match Group, Inc.(a) | 1,590 | 68,688 | |
Meta Platforms, Inc., Class A(a) | 13,188 | 1,228,594 | |
7,574,663 | |||
INTERNET & DIRECT MARKETING RETAIL (2.6%) | |||
Amazon.com, Inc.(a) | 50,980 | 5,222,391 | |
eBay, Inc. | 4,020 | 160,157 | |
Etsy, Inc.(a) | 440 | 41,320 | |
5,423,868 | |||
IT SERVICES (4.7%) | |||
Accenture PLC, Class A | 4,567 | 1,296,571 | |
Akamai Technologies, Inc.(a) | 1,050 | 92,746 | |
Automatic Data Processing, Inc. | 3,540 | 855,618 | |
Broadridge Financial Solutions, Inc. | 610 | 91,537 |
Shares | Value | ||
Cognizant Technology Solutions Corp., Class A | 3,450 | $ 214,762 | |
DXC Technology Co.(a) | 1,677 | 48,214 | |
EPAM Systems, Inc.(a) | 330 | 115,500 | |
Fidelity National Information Services, Inc. | 3,376 | 280,174 | |
Fiserv, Inc.(a) | 3,670 | 377,056 | |
FleetCor Technologies, Inc.(a) | 380 | 70,726 | |
Gartner, Inc.(a) | 430 | 129,826 | |
Global Payments, Inc. | 1,467 | 167,619 | |
International Business Machines Corp. | 7,086 | 979,923 | |
Jack Henry & Associates, Inc. | 660 | 131,380 | |
Mastercard, Inc., Class A | 5,122 | 1,680,938 | |
Paychex, Inc. | 2,190 | 259,099 | |
PayPal Holdings, Inc.(a) | 8,660 | 723,803 | |
VeriSign, Inc.(a) | 552 | 110,654 | |
Visa, Inc., Class A | 9,834 | 2,037,211 | |
9,663,357 | |||
LEISURE PRODUCTS (0.1%) | |||
Hasbro, Inc. | 3,080 | 200,970 | |
LIFE SCIENCES TOOLS & SERVICES (2.1%) | |||
Agilent Technologies, Inc. | 5,010 | 693,133 | |
Bio-Rad Laboratories, Inc., Class A(a) | 350 | 123,099 | |
Danaher Corp. | 4,640 | 1,167,749 | |
Illumina, Inc.(a) | 2,167 | 495,853 | |
IQVIA Holdings, Inc.(a) | 1,900 | 398,373 | |
Mettler-Toledo International, Inc.(a) | 433 | 547,715 | |
PerkinElmer, Inc. | 1,390 | 185,676 | |
Waters Corp.(a) | 1,437 | 429,907 | |
West Pharmaceutical Services, Inc. | 1,530 | 352,053 | |
4,393,558 | |||
MACHINERY (1.7%) | |||
Caterpillar, Inc. | 3,180 | 688,343 | |
Cummins, Inc. | 617 | 150,863 | |
Deere & Co. | 1,623 | 642,416 | |
Dover Corp. | 870 | 113,700 | |
Fortive Corp. | 2,460 | 157,194 | |
IDEX Corp. | 390 | 86,701 | |
Illinois Tool Works, Inc. | 1,844 | 393,749 | |
Ingersoll Rand, Inc. | 2,638 | 133,219 | |
Nordson Corp. | 230 | 51,750 | |
Otis Worldwide Corp. | 2,903 | 205,068 | |
PACCAR, Inc. | 2,215 | 214,478 | |
Parker-Hannifin Corp. | 528 | 153,447 | |
Pentair PLC | 540 | 23,193 | |
Snap-on, Inc. | 230 | 51,072 |
Shares | Value | ||
Stanley Black & Decker, Inc. | 812 | $ 63,734 | |
Westinghouse Air Brake Technologies Corp. | 820 | 76,490 | |
Xylem, Inc. | 3,210 | 328,800 | |
3,534,217 | |||
MEDIA (0.8%) | |||
Charter Communications, Inc., Class A(a) | 600 | 220,572 | |
Comcast Corp., Class A | 28,230 | 896,020 | |
DISH Network Corp., Class A(a) | 1,770 | 26,391 | |
Fox Corp., Class A | 1,460 | 42,150 | |
Fox Corp., Class B | 2,640 | 71,808 | |
Interpublic Group of Cos., Inc. (The) | 3,130 | 93,243 | |
News Corp., Class A | 2,690 | 45,380 | |
News Corp., Class B | 1,680 | 28,778 | |
Omnicom Group, Inc. | 1,340 | 97,485 | |
Paramount Global, Class B | 3,950 | 72,364 | |
1,594,191 | |||
METALS & MINING (0.3%) | |||
Freeport-McMoRan, Inc. | 9,248 | 293,069 | |
Newmont Corp. | 5,540 | 234,453 | |
Nucor Corp. | 1,510 | 198,384 | |
725,906 | |||
MULTILINE RETAIL (0.6%) | |||
Dollar General Corp. | 1,490 | 380,024 | |
Dollar Tree, Inc.(a) | 1,432 | 226,972 | |
Target Corp. | 4,040 | 663,570 | |
1,270,566 | |||
MULTI-UTILITIES (1.1%) | |||
Ameren Corp. | 2,350 | 191,572 | |
CenterPoint Energy, Inc. | 5,180 | 148,200 | |
CMS Energy Corp. | 3,130 | 178,567 | |
Consolidated Edison, Inc. | 2,760 | 242,770 | |
Dominion Energy, Inc. | 5,852 | 409,464 | |
DTE Energy Co. | 1,320 | 147,985 | |
NiSource, Inc. | 4,370 | 112,265 | |
Public Service Enterprise Group, Inc. | 4,276 | 239,755 | |
Sempra Energy | 2,040 | 307,918 | |
WEC Energy Group, Inc. | 2,545 | 232,435 | |
2,210,931 | |||
OIL, GAS & CONSUMABLE FUELS (4.6%) | |||
APA Corp. | 2,110 | 95,921 | |
Chevron Corp. | 10,663 | 1,928,937 | |
ConocoPhillips | 7,367 | 928,905 | |
Coterra Energy, Inc. | 4,790 | 149,113 | |
Devon Energy Corp. | 3,610 | 279,233 |
Shares | Value | ||
Diamondback Energy, Inc. | 680 | $ 106,835 | |
EOG Resources, Inc. | 3,154 | 430,584 | |
EQT Corp. | 1,210 | 50,626 | |
Exxon Mobil Corp. | 25,290 | 2,802,385 | |
Hess Corp. | 1,220 | 172,117 | |
Kinder Morgan, Inc. | 18,540 | 335,945 | |
Marathon Oil Corp. | 5,800 | 176,610 | |
Marathon Petroleum Corp. | 3,098 | 351,995 | |
Occidental Petroleum Corp. | 4,463 | 324,014 | |
ONEOK, Inc. | 2,580 | 153,045 | |
Phillips 66 | 2,469 | 257,492 | |
Pioneer Natural Resources Co. | 1,176 | 301,538 | |
Valero Energy Corp. | 2,360 | 296,298 | |
Williams Cos., Inc. (The) | 9,900 | 324,027 | |
9,465,620 | |||
PERSONAL PRODUCTS (0.1%) | |||
Estee Lauder Cos., Inc., (The) Class A | 1,368 | 274,270 | |
PHARMACEUTICALS (1.5%) | |||
Catalent, Inc.(a) | 1,820 | 119,629 | |
Eli Lilly & Co. | 5,240 | 1,897,351 | |
Organon & Co. | 3,400 | 89,012 | |
Zoetis, Inc. | 6,390 | 963,484 | |
3,069,476 | |||
PROFESSIONAL SERVICES (0.3%) | |||
CoStar Group, Inc.(a) | 1,960 | 162,131 | |
Equifax, Inc. | 620 | 105,115 | |
Jacobs Solutions, Inc. | 560 | 64,523 | |
Robert Half International, Inc. | 2,880 | 220,205 | |
Verisk Analytics, Inc. | 930 | 170,032 | |
722,006 | |||
REAL ESTATE MANAGEMENT & DEVELOPMENT (0.2%) | |||
CBRE Group, Inc., Class A(a) | 4,460 | 316,392 | |
ROAD & RAIL (1.0%) | |||
CSX Corp. | 17,120 | 497,507 | |
J.B. Hunt Transport Services, Inc. | 1,730 | 295,951 | |
Norfolk Southern Corp. | 1,358 | 309,719 | |
Old Dominion Freight Line, Inc. | 520 | 142,792 | |
Union Pacific Corp. | 3,755 | 740,261 | |
1,986,230 | |||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (4.7%) | |||
Advanced Micro Devices, Inc.(a) | 9,465 | 568,468 | |
Analog Devices, Inc. | 2,948 | 420,444 | |
Applied Materials, Inc. | 7,180 | 633,922 |
Shares | Value | ||
Broadcom, Inc. | 2,382 | $ 1,119,826 | |
Enphase Energy, Inc.(a) | 790 | 242,530 | |
Intel Corp. | 29,180 | 829,587 | |
KLA Corp. | 730 | 231,009 | |
Lam Research Corp. | 1,196 | 484,117 | |
Microchip Technology, Inc. | 3,030 | 187,072 | |
Micron Technology, Inc. | 6,630 | 358,683 | |
Monolithic Power Systems, Inc. | 230 | 78,074 | |
NVIDIA Corp. | 15,688 | 2,117,409 | |
NXP Semiconductors N.V. | 1,380 | 201,590 | |
ON Semiconductor Corp.(a) | 1,900 | 116,717 | |
Qorvo, Inc.(a) | 230 | 19,798 | |
QUALCOMM, Inc. | 6,570 | 773,026 | |
Skyworks Solutions, Inc. | 780 | 67,088 | |
SolarEdge Technologies, Inc.(a) | 330 | 75,910 | |
Teradyne, Inc. | 950 | 77,283 | |
Texas Instruments, Inc. | 6,930 | 1,113,166 | |
9,715,719 | |||
SOFTWARE (8.6%) | |||
Adobe, Inc.(a) | 3,391 | 1,080,034 | |
ANSYS, Inc.(a) | 1,253 | 277,114 | |
Autodesk, Inc.(a) | 2,230 | 477,889 | |
Cadence Design Systems, Inc.(a) | 3,070 | 464,767 | |
Ceridian HCM Holding, Inc.(a) | 660 | 43,685 | |
Fortinet, Inc.(a) | 4,000 | 228,640 | |
Intuit, Inc. | 2,112 | 902,880 | |
Microsoft Corp. | 44,400 | 10,306,572 | |
NortonLifeLock, Inc. | 13,682 | 308,255 | |
Oracle Corp. | 9,591 | 748,769 | |
Paycom Software, Inc.(a) | 240 | 83,040 | |
PTC, Inc.(a) | 570 | 67,163 | |
Roper Technologies, Inc. | 746 | 309,247 | |
Salesforce, Inc.(a) | 6,960 | 1,131,626 | |
ServiceNow, Inc.(a) | 1,620 | 681,599 | |
Synopsys, Inc.(a) | 1,570 | 459,304 | |
Tyler Technologies, Inc.(a) | 200 | 64,666 | |
17,635,250 | |||
SPECIALTY RETAIL (2.6%) | |||
Advance Auto Parts, Inc. | 296 | 56,216 | |
AutoZone, Inc.(a) | 131 | 331,807 | |
Bath & Body Works, Inc. | 1,710 | 57,080 | |
Best Buy Co., Inc. | 3,630 | 248,328 | |
CarMax, Inc.(a) | 2,560 | 161,306 | |
Home Depot, Inc. (The) | 6,859 | 2,031,156 | |
Lowe’s Cos., Inc. | 4,930 | 961,104 |
Shares | Value | ||
O'Reilly Automotive, Inc.(a) | 432 | $ 361,657 | |
Ross Stores, Inc. | 1,790 | 171,285 | |
TJX Cos., Inc. (The) | 7,860 | 566,706 | |
Tractor Supply Co. | 1,760 | 386,795 | |
Ulta Beauty, Inc.(a) | 291 | 122,037 | |
5,455,477 | |||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS (7.1%) | |||
Apple, Inc. | 87,674 | 13,443,931 | |
Hewlett Packard Enterprise Co. | 30,870 | 440,515 | |
HP, Inc. | 14,000 | 386,680 | |
NetApp, Inc. | 1,540 | 106,676 | |
Seagate Technology Holdings PLC | 3,880 | 192,681 | |
Western Digital Corp.(a) | 1,891 | 64,993 | |
14,635,476 | |||
TEXTILES, APPAREL & LUXURY GOODS (0.4%) | |||
NIKE, Inc., Class B | 7,340 | 680,271 | |
Tapestry, Inc. | 1,650 | 52,272 | |
VF Corp. | 5,235 | 147,889 | |
880,432 | |||
TRADING COMPANIES & DISTRIBUTORS (0.3%) | |||
Fastenal Co. | 4,700 | 227,151 | |
United Rentals, Inc.(a) | 120 | 37,885 | |
W.W. Grainger, Inc. | 678 | 396,190 | |
661,226 | |||
WATER UTILITIES (0.1%) | |||
American Water Works Co., Inc. | 1,220 | 177,315 | |
WIRELESS TELECOMMUNICATION SERVICES (0.3%) | |||
T-Mobile U.S., Inc.(a) | 4,270 | 647,161 | |
TOTAL COMMON STOCKS (COST $201,329,838) | 204,370,954 | ||
MONEY MARKET FUND (0.8%) | |||
Northern Institutional Treasury Portfolio (Premier Class), 2.48%(b) | 1,711,391 | 1,711,391 | |
TOTAL MONEY MARKET FUND (COST $1,711,391) | 1,711,391 | ||
TOTAL INVESTMENTS (COST $203,041,229) 100.0% | 206,082,345 | ||
OTHER ASSETS IN EXCESS OF LIABILITIES 0.0% | 36,269 | ||
NET ASSETS 100.0% | $ 206,118,614 | ||
(a) | Represents non-income producing security. |
(b) | 7-day current yield as of October 31, 2022 is disclosed. |
MSCI — Morgan Stanley Capital International |
PLC — Public Limited Company |
S&P — Standard & Poor's |
The table below sets forth the diversification of the Steward Values-Focused Small-Mid Cap Enhanced Index Fund investments by Industry.
Industry Diversification | Percent* | |
Banks | 8.2% | |
Equity Real Estate Investment Trusts | 6.7 | |
Machinery | 4.6 | |
Electronic Equipment, Instruments & Components | 4.0 | |
Insurance | 3.8 | |
Oil, Gas & Consumable Fuels | 3.8 | |
Specialty Retail | 3.5 | |
Health Care Equipment & Supplies | 3.4 | |
Semiconductors & Semiconductor Equipment | 3.0 | |
Software | 2.8 | |
Metals & Mining | 2.7 | |
Health Care Providers & Services | 2.6 | |
Chemicals | 2.5 | |
Building Products | 2.3 | |
Biotechnology | 2.0 | |
Professional Services | 2.0 | |
Textiles, Apparel & Luxury Goods | 1.9 | |
Commercial Services & Supplies | 1.8 | |
Construction & Engineering | 1.8 | |
Food Products | 1.8 | |
Hotels, Restaurants & Leisure | 1.8 | |
IT Services | 1.8 | |
Capital Markets | 1.7 | |
Household Durables | 1.7 | |
Money Market Fund | 1.6 | |
Auto Components | 1.5 | |
Electrical Equipment | 1.5 | |
Road & Rail | 1.5 | |
Aerospace & Defense | 1.4 | |
Communications Equipment | 1.2 | |
Energy Equipment & Services | 1.2 | |
Gas Utilities | 1.2 | |
Life Sciences Tools & Services | 1.1 | |
Thrifts & Mortgage Finance | 1.1 |
Industry Diversification | Percent* | |
Trading Companies & Distributors | 1.1% | |
Diversified Consumer Services | 1.0 | |
Electric Utilities | 0.9 | |
Leisure Products | 0.9 | |
Pharmaceuticals | 0.9 | |
Food & Staples Retailing | 0.8 | |
Consumer Finance | 0.7 | |
Containers & Packaging | 0.7 | |
Media | 0.7 | |
Mortgage Real Estate Investment Trusts | 0.6 | |
Water Utilities | 0.6 | |
Multiline Retail | 0.5 | |
Personal Products | 0.5 | |
Real Estate Management & Development | 0.5 | |
Air Freight & Logistics | 0.4 | |
Automobiles | 0.4 | |
Interactive Media & Services | 0.4 | |
Diversified Telecommunication Services | 0.3 | |
Multi-Utilities | 0.3 | |
Paper & Forest Products | 0.3 | |
Airlines | 0.2 | |
Beverages | 0.2 | |
Construction Materials | 0.2 | |
Diversified Financial Services | 0.2 | |
Entertainment | 0.2 | |
Health Care Technology | 0.2 | |
Household Products | 0.2 | |
Marine | 0.2 | |
Technology Hardware, Storage & Peripherals | 0.2 | |
Independent Power and Renewable Electricity Producers | 0.1 | |
Wireless Telecommunication Services | 0.1 | |
Internet & Direct Marketing Retail | 0.0** | |
Total Investments | 100.0% |
* | Percentages indicated are based on net assets as of October 31, 2022. |
** | Amount rounds to less than 0.1%. |
Shares | Value | ||
COMMON STOCKS (98.4%) | |||
AEROSPACE & DEFENSE (1.4%) | |||
AAR Corp.(a) | 2,140 | $ 94,845 | |
Aerojet Rocketdyne Holdings, Inc.(a) | 4,800 | 232,560 | |
AeroVironment, Inc.(a) | 1,350 | 123,525 | |
Axon Enterprise, Inc.(a) | 4,020 | 584,669 | |
Curtiss-Wright Corp. | 2,260 | 379,296 | |
Hexcel Corp. | 4,680 | 260,676 | |
Kaman Corp. | 1,770 | 56,817 | |
Mercury Systems, Inc.(a) | 3,220 | 155,848 | |
Moog, Inc., Class A | 1,440 | 122,040 | |
National Presto Industries, Inc. | 60 | 4,229 | |
Park Aerospace Corp. | 770 | 9,579 | |
Triumph Group, Inc.(a) | 3,570 | 32,308 | |
Woodward, Inc. | 3,430 | 314,531 | |
2,370,923 | |||
AIR FREIGHT & LOGISTICS (0.4%) | |||
Atlas Air Worldwide Holdings, Inc.(a) | 1,410 | 142,607 | |
Forward Air Corp. | 1,430 | 151,394 | |
GXO Logistics, Inc.(a) | 6,240 | 228,010 | |
Hub Group, Inc., Class A(a) | 1,830 | 142,008 | |
664,019 | |||
AIRLINES (0.2%) | |||
Allegiant Travel Co.(a) | 1,156 | 86,758 | |
Hawaiian Holdings, Inc.(a) | 3,750 | 54,112 | |
JetBlue Airways Corp.(a) | 20,350 | 163,614 | |
SkyWest, Inc.(a) | 3,220 | 56,930 | |
Sun Country Airlines Holdings, Inc.(a) | 970 | 15,792 | |
377,206 | |||
AUTO COMPONENTS (1.5%) | |||
Adient PLC(a) | 5,520 | 193,090 | |
American Axle & Manufacturing Holdings, Inc.(a) | 7,490 | 72,578 | |
Dana, Inc. | 9,280 | 148,109 | |
Dorman Products, Inc.(a) | 1,580 | 128,960 | |
Fox Factory Holding Corp.(a) | 2,310 | 202,934 | |
Gentex Corp. | 14,770 | 391,257 | |
Gentherm, Inc.(a) | 1,870 | 109,245 | |
Goodyear Tire & Rubber Co. (The)(a) | 17,412 | 221,132 | |
LCI Industries | 1,460 | 154,921 | |
Lear Corp. | 4,610 | 639,453 | |
Motorcar Parts of America, Inc.(a) | 1,240 | 23,560 | |
Patrick Industries, Inc. | 1,155 | 52,795 | |
Standard Motor Products, Inc. | 1,160 | 43,999 |
Shares | Value | ||
Visteon Corp.(a) | 1,600 | $ 208,752 | |
XPEL, Inc.(a) | 1,060 | 73,341 | |
2,664,126 | |||
AUTOMOBILES (0.4%) | |||
Harley-Davidson, Inc. | 8,380 | 360,340 | |
Thor Industries, Inc. | 3,080 | 250,927 | |
Winnebago Industries, Inc. | 1,820 | 108,636 | |
719,903 | |||
BANKS (8.2%) | |||
Ameris Bancorp | 3,872 | 199,447 | |
Associated Banc-Corp | 9,708 | 236,390 | |
Banc of California, Inc. | 2,870 | 47,872 | |
BancFirst Corp. | 1,050 | 100,611 | |
Bancorp, Inc. (The)(a) | 3,340 | 92,117 | |
Bank of Hawaii Corp. | 1,740 | 132,153 | |
Bank OZK | 7,040 | 302,579 | |
BankUnited, Inc. | 4,910 | 176,514 | |
Banner Corp. | 1,440 | 107,640 | |
Berkshire Hills Bancorp, Inc. | 2,910 | 85,118 | |
Brookline Bancorp, Inc. | 6,100 | 83,875 | |
Cadence Bank | 12,182 | 336,832 | |
Cathay General Bancorp | 4,090 | 186,504 | |
Central Pacific Financial Corp. | 1,180 | 24,214 | |
City Holding Co. | 470 | 47,400 | |
Columbia Banking System, Inc. | 4,560 | 152,623 | |
Commerce Bancshares, Inc. | 6,099 | 432,053 | |
Community Bank System, Inc. | 2,690 | 167,937 | |
Cullen/Frost Bankers, Inc. | 3,290 | 510,114 | |
Customers Bancorp, Inc.(a) | 1,740 | 58,621 | |
CVB Financial Corp. | 7,580 | 217,698 | |
Dime Community Bancshares, Inc., Class B | 2,282 | 78,797 | |
Eagle Bancorp, Inc. | 1,440 | 65,203 | |
East West Bancorp, Inc. | 7,630 | 546,079 | |
F.N.B. Corp. | 22,340 | 322,813 | |
FB Financial Corp. | 2,273 | 95,375 | |
First Bancorp | 1,870 | 83,346 | |
First BanCorp | 13,232 | 208,933 | |
First Commonwealth Financial Corp. | 4,960 | 71,126 | |
First Financial Bancorp | 4,760 | 124,093 | |
First Financial Bankshares, Inc. | 8,050 | 309,844 | |
First Hawaiian, Inc. | 7,410 | 189,548 | |
First Horizon Corp. | 29,630 | 726,231 | |
Fulton Financial Corp. | 11,140 | 203,082 | |
Glacier Bancorp, Inc. | 6,180 | 353,990 |
Shares | Value | ||
Hancock Whitney Corp. | 4,689 | $ 261,974 | |
Hanmi Financial Corp. | 2,091 | 55,997 | |
Heritage Financial Corp. | 1,430 | 48,177 | |
Hilltop Holdings, Inc. | 3,990 | 115,511 | |
Home Bancshares, Inc. | 9,712 | 247,559 | |
HomeStreet, Inc. | 1,010 | 26,220 | |
Hope Bancorp, Inc. | 8,372 | 113,608 | |
Independent Bank Corp. | 2,280 | 198,383 | |
Independent Bank Group, Inc. | 1,840 | 116,086 | |
International Bancshares Corp. | 3,500 | 173,600 | |
Lakeland Financial Corp. | 1,260 | 104,139 | |
National Bank Holdings Corp., Class A | 1,950 | 85,449 | |
NBT Bancorp, Inc. | 2,040 | 96,676 | |
Northwest Bancshares, Inc. | 4,090 | 61,595 | |
OFG Bancorp | 2,890 | 80,573 | |
Old National Bancorp | 18,573 | 363,288 | |
Pacific Premier Bancorp, Inc. | 5,652 | 205,789 | |
PacWest Bancorp | 6,950 | 172,777 | |
Park National Corp. | 560 | 82,600 | |
Pathward Financial, Inc. | 1,850 | 77,756 | |
Pinnacle Financial Partners, Inc. | 3,930 | 326,151 | |
Preferred Bank | 450 | 34,592 | |
Prosperity Bancshares, Inc. | 4,431 | 317,127 | |
Renasant Corp. | 3,450 | 139,276 | |
S&T Bancorp, Inc. | 1,690 | 63,899 | |
Seacoast Banking Corp. of Florida | 3,510 | 108,459 | |
ServisFirst Bancshares, Inc. | 2,750 | 207,157 | |
Simmons First National Corp., Class A | 7,060 | 168,522 | |
Southside Bancshares, Inc. | 1,884 | 64,508 | |
Stellar Bancorp, Inc. | 1,475 | 48,439 | |
Synovus Financial Corp. | 8,392 | 334,421 | |
Texas Capital Bancshares, Inc.(a) | 2,590 | 155,400 | |
Triumph Bancorp, Inc.(a) | 1,380 | 71,070 | |
Trustmark Corp. | 3,420 | 125,069 | |
UMB Financial Corp. | 2,250 | 187,245 | |
Umpqua Holdings Corp. | 13,870 | 275,736 | |
United Bankshares, Inc. | 8,243 | 349,091 | |
United Community Banks, Inc. | 5,632 | 216,832 | |
Valley National Bancorp | 19,464 | 231,038 | |
Veritex Holdings, Inc. | 2,803 | 88,519 | |
Washington Federal, Inc. | 4,240 | 164,088 | |
Webster Financial Corp. | 10,040 | 544,770 | |
Westamerica BanCorp | 1,210 | 75,903 | |
Wintrust Financial Corp. | 3,190 | 298,648 | |
14,360,489 |
Shares | Value | ||
BEVERAGES (0.2%) | |||
Celsius Holdings, Inc.(a) | 2,250 | $ 204,930 | |
Coca-Cola Consolidated, Inc. | 271 | 131,980 | |
National Beverage Corp. | 1,500 | 71,130 | |
408,040 | |||
BIOTECHNOLOGY (2.0%) | |||
Anika Therapeutics, Inc.(a) | 870 | 24,725 | |
Arcus Biosciences, Inc.(a) | 2,660 | 67,777 | |
Arrowhead Pharmaceuticals, Inc.(a) | 6,150 | 214,082 | |
Avid Bioservices, Inc.(a) | 3,940 | 66,744 | |
Catalyst Pharmaceuticals, Inc.(a) | 3,440 | 47,713 | |
Coherus Biosciences, Inc.(a) | 4,740 | 41,238 | |
Cytokinetics, Inc.(a) | 5,220 | 227,905 | |
Dynavax Technologies Corp.(a) | 6,000 | 68,700 | |
Emergent BioSolutions, Inc.(a) | 3,000 | 62,580 | |
Enanta Pharmaceuticals, Inc.(a) | 1,070 | 48,268 | |
Exelixis, Inc.(a) | 19,120 | 317,010 | |
Halozyme Therapeutics, Inc.(a) | 7,910 | 378,177 | |
Ironwood Pharmaceuticals, Inc.(a) | 3,360 | 36,758 | |
iTeos Therapeutics, Inc.(a) | 1,000 | 19,480 | |
Ligand Pharmaceuticals, Inc.(a) | 970 | 85,021 | |
Myriad Genetics, Inc.(a) | 4,900 | 101,626 | |
Neurocrine Biosciences, Inc.(a) | 5,380 | 619,346 | |
Organogenesis Holdings, Inc.(a) | 4,190 | 13,743 | |
REGENXBIO, Inc.(a) | 2,560 | 60,595 | |
uniQure N.V.(a) | 2,070 | 38,543 | |
United Therapeutics Corp.(a) | 2,553 | 588,543 | |
Vanda Pharmaceuticals, Inc.(a) | 3,970 | 41,566 | |
Vericel Corp.(a) | 2,940 | 79,027 | |
Vir Biotechnology, Inc.(a) | 4,180 | 91,876 | |
Xencor, Inc.(a) | 3,800 | 106,400 | |
3,447,443 | |||
BUILDING PRODUCTS (2.3%) | |||
AAON, Inc. | 2,608 | 168,190 | |
American Woodmark Corp.(a) | 830 | 37,641 | |
Apogee Enterprises, Inc. | 1,580 | 72,490 | |
Builders FirstSource, Inc.(a) | 9,250 | 570,355 | |
Carlisle Cos., Inc. | 2,860 | 682,968 | |
Gibraltar Industries, Inc.(a) | 2,010 | 102,671 | |
Griffon Corp. | 3,400 | 109,276 | |
Insteel Industries, Inc. | 960 | 25,296 | |
Lennox International, Inc. | 1,899 | 443,549 | |
Owens Corning | 7,460 | 638,651 |
Shares | Value | ||
PGT Innovations, Inc.(a) | 4,020 | $ 85,666 | |
Quanex Building Products Corp. | 2,335 | 51,744 | |
Resideo Technologies, Inc.(a) | 8,810 | 208,092 | |
Simpson Manufacturing Co., Inc. | 2,330 | 199,168 | |
Trex Co., Inc.(a) | 6,460 | 310,661 | |
UFP Industries, Inc. | 3,450 | 245,744 | |
3,952,162 | |||
CAPITAL MARKETS (1.7%) | |||
Affiliated Managers Group, Inc. | 2,150 | 266,944 | |
B. Riley Financial, Inc. | 1,020 | 41,494 | |
Blucora, Inc.(a) | 3,150 | 69,395 | |
Brightsphere Investment Group, Inc. | 2,520 | 47,426 | |
Donnelley Financial Solutions, Inc.(a) | 1,891 | 76,453 | |
Evercore, Inc., Class A | 2,230 | 234,373 | |
Federated Hermes, Inc. | 5,930 | 206,068 | |
Interactive Brokers Group, Inc., Class A | 5,430 | 435,215 | |
Janus Henderson Group PLC | 10,310 | 234,759 | |
Jefferies Financial Group, Inc. | 11,840 | 407,414 | |
Piper Sandler Cos. | 820 | 104,935 | |
SEI Investments Co. | 6,460 | 350,778 | |
Stifel Financial Corp. | 5,927 | 366,703 | |
StoneX Group, Inc.(a) | 930 | 86,788 | |
Virtus Investment Partners, Inc. | 407 | 69,796 | |
WisdomTree Investments, Inc. | 6,910 | 37,521 | |
3,036,062 | |||
CHEMICALS (2.5%) | |||
AdvanSix, Inc. | 1,690 | 61,482 | |
American Vanguard Corp. | 1,350 | 31,415 | |
Ashland, Inc. | 2,870 | 301,120 | |
Avient Corp. | 5,390 | 185,901 | |
Balchem Corp. | 1,815 | 253,737 | |
Cabot Corp. | 3,070 | 225,584 | |
Chemours Co. (The) | 8,910 | 255,093 | |
FutureFuel Corp. | 1,390 | 9,508 | |
H.B. Fuller Co. | 2,950 | 205,644 | |
Hawkins, Inc. | 960 | 43,229 | |
Ingevity Corp.(a) | 2,130 | 143,285 | |
Innospec, Inc. | 1,190 | 118,988 | |
Koppers Holdings, Inc. | 1,350 | 33,696 | |
Livent Corp.(a) | 9,680 | 305,598 | |
Minerals Technologies, Inc. | 1,650 | 90,767 | |
NewMarket Corp. | 369 | 112,301 | |
Olin Corp. | 7,950 | 420,952 | |
Quaker Chemical Corp. | 770 | 125,233 | |
Rayonier Advanced Materials, Inc.(a) | 4,493 | 20,443 |
Shares | Value | ||
RPM International, Inc. | 7,170 | $ 678,067 | |
Scotts Miracle-Gro Co. (The) | 2,290 | 105,134 | |
Sensient Technologies Corp. | 2,250 | 160,785 | |
Stepan Co. | 1,070 | 111,751 | |
Tredegar Corp. | 2,040 | 22,216 | |
Trinseo PLC | 2,050 | 38,581 | |
Valvoline, Inc. | 11,176 | 328,127 | |
4,388,637 | |||
COMMERCIAL SERVICES & SUPPLIES (1.8%) | |||
ABM Industries, Inc. | 3,890 | 173,144 | |
Brady Corp., Class A | 2,820 | 129,015 | |
Brink's Co. (The) | 2,790 | 166,368 | |
Clean Harbors, Inc.(a) | 2,830 | 346,562 | |
Corecivic, Inc.(a) | 7,688 | 80,493 | |
Deluxe Corp. | 2,730 | 50,177 | |
Geo Group, Inc. (The)(a) | 8,224 | 69,575 | |
Harsco Corp.(a) | 5,250 | 27,773 | |
Healthcare Services Group, Inc. | 4,472 | 62,429 | |
HNI Corp. | 2,680 | 77,693 | |
IAA, Inc.(a) | 8,040 | 304,957 | |
Interface, Inc. | 3,860 | 43,657 | |
KAR Auction Services, Inc.(a) | 7,650 | 111,154 | |
Matthews International Corp., Class A | 2,160 | 58,061 | |
MillerKnoll, Inc. | 10,140 | 214,765 | |
MSA Safety, Inc. | 2,140 | 287,274 | |
Pitney Bowes, Inc. | 11,310 | 35,174 | |
Stericycle, Inc.(a) | 5,230 | 233,153 | |
Tetra Tech, Inc. | 3,080 | 435,142 | |
UniFirst Corp. | 890 | 163,769 | |
Viad Corp.(a) | 1,420 | 52,938 | |
3,123,273 | |||
COMMUNICATIONS EQUIPMENT (1.2%) | |||
ADTRAN Holdings, Inc. | 2,480 | 55,701 | |
Calix, Inc.(a) | 3,320 | 244,485 | |
Ciena Corp.(a) | 8,670 | 415,293 | |
Clearfield, Inc.(a) | 620 | 75,311 | |
Comtech Telecommunications Corp. | 1,710 | 18,896 | |
Digi International, Inc.(a) | 2,130 | 85,903 | |
Extreme Networks, Inc.(a) | 8,160 | 146,390 | |
Harmonic, Inc.(a) | 6,990 | 107,995 | |
Lumentum Holdings, Inc.(a) | 3,895 | 289,983 | |
NETGEAR, Inc.(a) | 1,810 | 35,566 | |
NetScout Systems, Inc.(a) | 4,450 | 159,844 |
Shares | Value | ||
ViaSat, Inc.(a) | 4,160 | $ 170,394 | |
Viavi Solutions, Inc.(a) | 15,250 | 230,275 | |
2,036,036 | |||
CONSTRUCTION & ENGINEERING (1.8%) | |||
AECOM | 7,872 | 592,604 | |
Arcosa, Inc. | 2,773 | 178,027 | |
Comfort Systems USA, Inc. | 2,020 | 249,026 | |
Dycom Industries, Inc.(a) | 1,610 | 190,270 | |
EMCOR Group, Inc. | 2,790 | 393,669 | |
Fluor Corp.(a) | 8,500 | 257,210 | |
Granite Construction, Inc. | 2,780 | 93,769 | |
MasTec, Inc.(a) | 3,230 | 248,968 | |
MDU Resources Group, Inc. | 12,060 | 343,469 | |
MYR Group, Inc.(a) | 900 | 78,759 | |
NV5 Global, Inc.(a) | 680 | 98,566 | |
Valmont Industries, Inc. | 1,150 | 367,103 | |
3,091,440 | |||
CONSTRUCTION MATERIALS (0.2%) | |||
Eagle Materials, Inc. | 2,240 | 273,974 | |
CONSUMER FINANCE (0.7%) | |||
Bread Financial Holdings, Inc. | 2,670 | 96,414 | |
Encore Capital Group, Inc.(a) | 1,360 | 69,251 | |
Enova International, Inc.(a) | 2,123 | 79,591 | |
EZCORP, Inc., Class A(a) | 4,470 | 43,180 | |
FirstCash Holdings, Inc. | 2,218 | 218,362 | |
Green Dot Corp., Class A(a) | 3,400 | 64,702 | |
LendingTree, Inc.(a) | 582 | 14,684 | |
Navient Corp. | 9,950 | 150,643 | |
PRA Group, Inc.(a) | 2,600 | 87,100 | |
PROG Holdings, Inc.(a) | 3,420 | 56,498 | |
SLM Corp. | 18,200 | 301,938 | |
World Acceptance Corp.(a) | 230 | 18,681 | |
1,201,044 | |||
CONTAINERS & PACKAGING (0.7%) | |||
AptarGroup, Inc. | 3,750 | 371,812 | |
Greif, Inc., Class A | 1,390 | 92,032 | |
Myers Industries, Inc. | 1,870 | 37,942 | |
O-I Glass, Inc.(a) | 9,590 | 156,413 | |
Silgan Holdings, Inc. | 5,620 | 266,163 | |
Sonoco Products Co. | 5,570 | 345,786 | |
1,270,148 | |||
DIVERSIFIED CONSUMER SERVICES (1.0%) | |||
Adtalem Global Education, Inc.(a) | 2,720 | 113,424 | |
Frontdoor, Inc.(a) | 3,470 | 76,548 |
Shares | Value | ||
Graham Holdings Co., Class B | 257 | $ 160,335 | |
Grand Canyon Education, Inc.(a) | 2,030 | 204,279 | |
H&R Block, Inc. | 9,210 | 378,991 | |
Perdoceo Education Corp.(a) | 5,420 | 61,951 | |
Service Corp. International | 9,230 | 559,430 | |
Strategic Education, Inc. | 1,309 | 90,321 | |
Stride, Inc.(a) | 2,390 | 80,089 | |
WW International, Inc.(a) | 3,710 | 16,769 | |
1,742,137 | |||
DIVERSIFIED FINANCIAL SERVICES (0.2%) | |||
Voya Financial, Inc. | 5,870 | 401,273 | |
DIVERSIFIED TELECOMMUNICATION SERVICES (0.3%) | |||
ATN International, Inc. | 680 | 29,322 | |
Cogent Communications Holdings, Inc. | 2,530 | 132,850 | |
Consolidated Communications Holdings, Inc.(a) | 6,340 | 32,778 | |
Iridium Communications, Inc.(a) | 7,420 | 382,352 | |
577,302 | |||
ELECTRIC UTILITIES (0.9%) | |||
ALLETE, Inc. | 3,090 | 173,874 | |
Hawaiian Electric Industries, Inc. | 6,820 | 259,433 | |
IDACORP, Inc. | 3,030 | 317,241 | |
OGE Energy Corp. | 12,900 | 472,527 | |
PNM Resources, Inc. | 5,310 | 246,756 | |
Portland General Electric Co. | 4,320 | 194,141 | |
1,663,972 | |||
ELECTRICAL EQUIPMENT (1.5%) | |||
Acuity Brands, Inc. | 1,840 | 337,769 | |
AZZ, Inc. | 1,470 | 59,094 | |
Encore Wire Corp. | 1,080 | 148,597 | |
EnerSys | 2,030 | 134,568 | |
Hubbell, Inc. | 2,960 | 702,941 | |
nVent Electric PLC | 9,720 | 354,780 | |
Powell Industries, Inc. | 740 | 18,256 | |
Regal Rexnord Corp. | 3,690 | 466,932 | |
SunPower Corp.(a) | 5,220 | 96,518 | |
Sunrun, Inc.(a) | 11,800 | 265,618 | |
Vicor Corp.(a) | 1,210 | 57,802 | |
2,642,875 | |||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS (4.0%) | |||
Advanced Energy Industries, Inc. | 2,030 | 159,660 | |
Arlo Technologies, Inc.(a) | 5,581 | 28,742 | |
Arrow Electronics, Inc.(a) | 3,680 | 372,637 |
Shares | Value | ||
Avnet, Inc. | 9,480 | $ 381,001 | |
Badger Meter, Inc. | 3,410 | 383,557 | |
Belden, Inc. | 2,470 | 171,986 | |
Benchmark Electronics, Inc. | 2,340 | 66,433 | |
Cognex Corp. | 9,870 | 456,290 | |
Coherent Corp.(a) | 7,582 | 254,831 | |
CTS Corp. | 5,390 | 213,013 | |
ePlus, Inc.(a) | 1,520 | 74,054 | |
Fabrinet (a) | 2,050 | 234,520 | |
FARO Technologies, Inc.(a) | 1,130 | 33,007 | |
Insight Enterprises, Inc.(a) | 1,960 | 185,240 | |
IPG Photonics Corp.(a) | 1,970 | 168,750 | |
Itron, Inc.(a) | 6,000 | 293,340 | |
Jabil, Inc. | 8,060 | 517,855 | |
Knowles Corp.(a) | 5,710 | 78,513 | |
Littelfuse, Inc. | 1,375 | 302,844 | |
Methode Electronics, Inc. | 2,840 | 117,093 | |
National Instruments Corp. | 8,215 | 313,649 | |
Novanta, Inc.(a) | 2,040 | 288,456 | |
OSI Systems, Inc.(a) | 2,980 | 244,896 | |
PC Connection, Inc. | 730 | 38,792 | |
Plexus Corp.(a) | 3,440 | 338,496 | |
Rogers Corp.(a) | 1,010 | 237,683 | |
Sanmina Corp.(a) | 3,730 | 209,067 | |
ScanSource, Inc.(a) | 1,530 | 47,399 | |
TD SYNNEX Corp. | 2,398 | 219,441 | |
TTM Technologies, Inc.(a) | 7,740 | 118,499 | |
Vishay Intertechnology, Inc. | 8,280 | 173,135 | |
Vontier Corp. | 10,470 | 199,977 | |
6,922,856 | |||
ENERGY EQUIPMENT & SERVICES (1.2%) | |||
Archrock, Inc. | 10,770 | 80,883 | |
Bristow Group, Inc.(a) | 1,320 | 39,521 | |
ChampionX Corp. | 11,530 | 329,988 | |
Core Laboratories N.V. | 2,630 | 51,180 | |
DMC Global, Inc.(a) | 1,040 | 22,506 | |
Dril-Quip, Inc.(a) | 1,350 | 33,588 | |
Helix Energy Solutions Group, Inc.(a) | 12,550 | 87,850 | |
Helmerich & Payne, Inc. | 5,070 | 251,016 | |
Nabors Industries Ltd.(a) | 498 | 86,667 | |
NOV, Inc. | 21,080 | 472,192 | |
Oceaneering International, Inc.(a) | 5,950 | 83,240 | |
Oil States International, Inc.(a) | 5,450 | 35,261 | |
Patterson-UTI Energy, Inc. | 13,040 | 230,156 | |
ProPetro Holding Corp.(a) | 6,670 | 78,973 |
Shares | Value | ||
RPC, Inc. | 9,030 | $ 100,504 | |
U.S. Silica Holdings, Inc.(a) | 4,660 | 67,057 | |
2,050,582 | |||
ENTERTAINMENT (0.2%) | |||
Cinemark Holdings, Inc.(a) | 6,810 | 72,254 | |
Marcus Corp. (The) | 1,710 | 25,718 | |
World Wrestling Entertainment, Inc., Class A | 2,540 | 200,381 | |
298,353 | |||
EQUITY REAL ESTATE INVESTMENT TRUSTS (6.7%) | |||
Acadia Realty Trust | 5,897 | 82,381 | |
Agree Realty Corp. | 4,710 | 323,577 | |
Alexander & Baldwin, Inc. | 4,923 | 95,900 | |
American Assets Trust, Inc. | 3,540 | 97,279 | |
Apartment Income REIT Corp. | 9,750 | 374,692 | |
Armada Hoffler Properties, Inc. | 4,940 | 57,749 | |
Brandywine Realty Trust | 8,970 | 58,843 | |
Brixmor Property Group, Inc. | 19,130 | 407,660 | |
CareTrust REIT, Inc. | 5,808 | 108,493 | |
Centerspace | 1,060 | 73,458 | |
Chatham Lodging Trust(a) | 2,050 | 26,589 | |
Corporate Office Properties Trust | 7,210 | 192,146 | |
DiamondRock Hospitality Co. | 14,060 | 131,320 | |
Douglas Emmett, Inc. | 11,530 | 202,813 | |
Easterly Government Properties, Inc. | 5,040 | 87,646 | |
EastGroup Properties, Inc. | 2,700 | 423,063 | |
Elme Communities | 5,140 | 98,123 | |
EPR Properties | 4,250 | 164,050 | |
Essential Properties Realty Trust, Inc. | 7,610 | 163,767 | |
First Industrial Realty Trust, Inc. | 8,570 | 408,189 | |
Four Corners Property Trust, Inc. | 5,927 | 151,850 | |
Franklin Street Properties Corp. | 3,260 | 9,389 | |
Getty Realty Corp. | 2,470 | 77,780 | |
Global Net Lease, Inc. | 5,720 | 70,070 | |
Hersha Hospitality Trust, Class A | 2,750 | 25,163 | |
Highwoods Properties, Inc. | 6,990 | 197,328 | |
Hudson Pacific Properties, Inc. | 9,340 | 103,114 | |
Independence Realty Trust, Inc. | 9,670 | 162,069 | |
Industrial Logistics Properties Trust | 4,080 | 19,094 | |
Innovative Industrial Properties, Inc. | 1,650 | 178,365 | |
iStar, Inc. | 4,860 | 50,933 | |
JBG Smith Properties | 7,540 | 148,387 | |
Kilroy Realty Corp. | 6,560 | 280,374 | |
Kite Realty Group Trust | 13,285 | 260,917 |
Shares | Value | ||
Lamar Advertising Co., Class A | 5,220 | $ 481,441 | |
Life Storage, Inc. | 5,160 | 570,748 | |
LTC Properties, Inc. | 2,760 | 106,729 | |
LXP Industrial Trust | 15,915 | 154,057 | |
Macerich Co. (The) | 16,239 | 180,740 | |
National Retail Properties, Inc. | 11,250 | 472,837 | |
National Storage Affiliates Trust | 5,340 | 227,804 | |
NexPoint Residential Trust, Inc. | 1,426 | 65,026 | |
Office Properties Income Trust | 3,047 | 46,619 | |
Omega Healthcare Investors, Inc. | 14,066 | 447,017 | |
Orion Office REIT, Inc. | 3,380 | 31,671 | |
Outfront Media, Inc. | 2,450 | 44,223 | |
Park Hotels & Resorts, Inc. | 14,674 | 191,936 | |
Pebblebrook Hotel Trust | 8,486 | 136,115 | |
PotlatchDeltic Corp. | 4,042 | 179,829 | |
Rayonier, Inc. | 8,920 | 300,604 | |
Retail Opportunity Investments Corp. | 8,910 | 129,017 | |
Rexford Industrial Realty, Inc. | 9,540 | 527,371 | |
RPT Realty | 4,060 | 37,758 | |
Sabra Health Care REIT, Inc. | 12,749 | 174,151 | |
Safehold, Inc. | 970 | 28,373 | |
Saul Centers, Inc. | 970 | 39,722 | |
Service Properties Trust | 8,860 | 71,855 | |
SITE Centers Corp. | 11,650 | 144,227 | |
SL Green Realty Corp. | 3,500 | 138,880 | |
Spirit Realty Capital, Inc. | 8,000 | 310,640 | |
STORE Capital Corp. | 16,090 | 511,662 | |
Summit Hotel Properties, Inc. | 8,030 | 69,379 | |
Tanger Factory Outlet Centers, Inc. | 6,800 | 122,468 | |
Uniti Group, Inc. | 15,294 | 118,681 | |
Urban Edge Properties | 6,590 | 93,051 | |
Urstadt Biddle Properties, Inc., Class A | 2,370 | 44,414 | |
Veris Residential, Inc.(a) | 5,020 | 79,467 | |
Whitestone REIT | 1,040 | 9,786 | |
Xenia Hotels & Resorts, Inc. | 7,450 | 127,246 | |
11,728,115 | |||
FOOD & STAPLES RETAILING (0.8%) | |||
Andersons, Inc. (The) | 2,005 | 70,716 | |
BJ's Wholesale Club Holdings, Inc.(a) | 7,820 | 605,268 | |
Chefs' Warehouse, Inc. (The)(a) | 2,200 | 80,586 | |
Grocery Outlet Holding Corp.(a) | 5,330 | 184,258 | |
PriceSmart, Inc. | 1,420 | 90,838 | |
SpartanNash Co. | 2,424 | 86,561 | |
Sprouts Farmers Market, Inc.(a) | 7,340 | 216,530 | |
United Natural Foods, Inc.(a) | 3,380 | 143,346 | |
1,478,103 |
Shares | Value | ||
FOOD PRODUCTS (1.8%) | |||
B&G Foods, Inc. | 4,180 | $ 68,468 | |
Calavo Growers, Inc. | 1,180 | 40,816 | |
Cal-Maine Foods, Inc. | 2,490 | 140,710 | |
Darling Ingredients, Inc.(a) | 9,140 | 717,307 | |
Flowers Foods, Inc. | 12,403 | 356,090 | |
Fresh Del Monte Produce, Inc. | 2,440 | 63,635 | |
Hain Celestial Group, Inc. (The)(a) | 5,670 | 106,086 | |
Hostess Brands, Inc.(a) | 4,380 | 115,982 | |
Ingredion, Inc. | 3,780 | 336,874 | |
J & J Snack Foods Corp. | 920 | 135,801 | |
John B. Sanfilippo & Son, Inc. | 500 | 41,705 | |
Lancaster Colony Corp. | 1,160 | 209,125 | |
Pilgrim's Pride Corp.(a) | 3,660 | 84,363 | |
Post Holdings, Inc.(a) | 3,225 | 291,605 | |
Seneca Foods Corp., Class A(a) | 320 | 20,195 | |
Simply Good Foods Co. (The)(a) | 5,330 | 204,139 | |
Tootsie Roll Industries, Inc. | 1,045 | 42,208 | |
TreeHouse Foods, Inc.(a) | 3,310 | 166,294 | |
3,141,403 | |||
GAS UTILITIES (1.2%) | |||
Chesapeake Utilities Corp. | 1,030 | 128,111 | |
National Fuel Gas Co. | 4,850 | 327,326 | |
New Jersey Resources Corp. | 6,230 | 278,107 | |
Northwest Natural Holding Co. | 1,440 | 69,250 | |
ONE Gas, Inc. | 3,080 | 238,638 | |
South Jersey Industries, Inc. | 6,750 | 234,023 | |
Southwest Gas Holdings, Inc. | 3,760 | 274,743 | |
Spire, Inc. | 2,780 | 194,072 | |
UGI Corp. | 12,260 | 433,146 | |
2,177,416 | |||
HEALTH CARE EQUIPMENT & SUPPLIES (3.4%) | |||
AngioDynamics, Inc.(a) | 2,440 | 34,380 | |
Artivion, Inc.(a) | 2,660 | 29,686 | |
Avanos Medical, Inc.(a) | 3,140 | 69,551 | |
Cardiovascular Systems, Inc.(a) | 2,550 | 36,822 | |
CONMED Corp. | 1,730 | 137,933 | |
Cutera, Inc.(a) | 1,020 | 46,889 | |
Embecta Corp. | 3,030 | 93,688 | |
Enovis Corp.(a) | 2,533 | 125,257 | |
Envista Holdings Corp.(a) | 9,780 | 322,838 | |
Glaukos Corp.(a) | 2,730 | 153,071 | |
Globus Medical, Inc., Class A(a) | 4,710 | 315,570 | |
Haemonetics Corp.(a) | 2,920 | 248,054 | |
Heska Corp.(a) | 570 | 40,903 |
Shares | Value | ||
ICU Medical, Inc.(a) | 1,244 | $ 184,622 | |
Inari Medical, Inc.(a) | 2,740 | 210,788 | |
Inogen, Inc.(a) | 1,300 | 29,458 | |
Integer Holdings Corp.(a) | 1,870 | 116,557 | |
Integra LifeSciences Holdings Corp.(a) | 4,540 | 228,135 | |
Lantheus Holdings, Inc.(a) | 3,865 | 285,971 | |
LeMaitre Vascular, Inc. | 1,310 | 56,854 | |
LivaNova PLC(a) | 3,030 | 142,713 | |
Masimo Corp.(a) | 2,930 | 385,588 | |
Meridian Bioscience, Inc.(a) | 2,800 | 89,516 | |
Merit Medical Systems, Inc.(a) | 3,145 | 216,282 | |
Mesa Laboratories, Inc. | 320 | 42,307 | |
Neogen Corp.(a) | 7,098 | 93,694 | |
NuVasive, Inc.(a) | 3,000 | 132,390 | |
Omnicell, Inc.(a) | 2,560 | 197,939 | |
OraSure Technologies, Inc.(a) | 3,830 | 16,699 | |
Orthofix Medical, Inc.(a) | 1,110 | 17,827 | |
Penumbra, Inc.(a) | 2,160 | 370,375 | |
QuidelOrtho Corp.(a) | 3,060 | 274,849 | |
Shockwave Medical, Inc.(a) | 2,030 | 595,094 | |
STAAR Surgical Co.(a) | 4,890 | 346,554 | |
Surmodics, Inc.(a) | 870 | 29,702 | |
Tandem Diabetes Care, Inc.(a) | 3,710 | 208,316 | |
Varex Imaging Corp.(a) | 2,360 | 52,180 | |
Zimvie, Inc.(a) | 530 | 4,648 | |
Zynex, Inc. | 2,013 | 22,948 | |
6,006,648 | |||
HEALTH CARE PROVIDERS & SERVICES (2.6%) | |||
Acadia Healthcare Co., Inc.(a) | 5,210 | 423,573 | |
AdaptHealth Corp.(a) | 5,590 | 127,452 | |
Addus HomeCare Corp.(a) | 940 | 96,275 | |
Amedisys, Inc.(a) | 1,899 | 185,323 | |
AMN Healthcare Services, Inc.(a) | 2,570 | 322,535 | |
Apollo Medical Holdings, Inc.(a) | 2,330 | 82,622 | |
Chemed Corp. | 821 | 383,300 | |
CorVel Corp.(a) | 590 | 96,884 | |
Cross Country Healthcare, Inc.(a) | 2,380 | 88,274 | |
Encompass Health Corp. | 5,810 | 316,296 | |
Enhabit, Inc.(a) | 2,905 | 36,080 | |
Ensign Group, Inc. (The) | 3,190 | 286,398 | |
Fulgent Genetics, Inc.(a) | 1,210 | 47,952 | |
HealthEquity, Inc.(a) | 4,760 | 370,852 | |
Joint Corp. (The)(a) | 940 | 15,529 | |
LHC Group, Inc.(a) | 1,790 | 299,109 | |
ModivCare, Inc.(a) | 700 | 68,068 | |
Option Care Health, Inc.(a) | 9,030 | 273,248 |
Shares | Value | ||
Owens & Minor, Inc. | 4,565 | $ 77,605 | |
Patterson Cos., Inc. | 5,780 | 150,107 | |
Pediatrix Medical Group, Inc.(a) | 1,820 | 35,308 | |
Pennant Group, Inc. (The)(a) | 1,955 | 24,066 | |
Progyny, Inc.(a) | 4,350 | 193,445 | |
R1 RCM, Inc.(a) | 9,020 | 159,293 | |
RadNet, Inc.(a) | 3,160 | 60,419 | |
Select Medical Holdings Corp. | 7,470 | 191,830 | |
U.S. Physical Therapy, Inc. | 810 | 71,928 | |
4,483,771 | |||
HEALTH CARE TECHNOLOGY (0.2%) | |||
Allscripts Healthcare Solutions, Inc.(a) | 7,896 | 116,072 | |
Computer Programs and Systems, Inc.(a) | 890 | 28,747 | |
HealthStream, Inc.(a) | 1,710 | 42,237 | |
NextGen Healthcare, Inc.(a) | 4,380 | 87,775 | |
OptimizeRx Corp.(a) | 1,210 | 18,652 | |
Simulations Plus, Inc. | 1,100 | 45,650 | |
339,133 | |||
HOTELS, RESTAURANTS & LEISURE (1.8%) | |||
Brinker International, Inc.(a) | 2,150 | 71,789 | |
Choice Hotels International, Inc. | 2,360 | 306,422 | |
Cracker Barrel Old Country Store, Inc. | 1,510 | 172,472 | |
Dine Brands Global, Inc. | 1,190 | 85,787 | |
El Pollo Loco Holdings, Inc. | 2,780 | 27,911 | |
Jack in the Box, Inc. | 1,380 | 121,757 | |
Marriott Vacations Worldwide Corp. | 2,626 | 388,018 | |
Papa John's International, Inc. | 1,980 | 143,807 | |
Shake Shack, Inc., Class A(a) | 2,540 | 141,148 | |
Six Flags Entertainment Corp.(a) | 5,010 | 111,723 | |
Texas Roadhouse, Inc. | 4,140 | 409,653 | |
Travel + Leisure Co. | 5,520 | 209,650 | |
Wendy's Co. (The) | 13,320 | 276,790 | |
Wingstop, Inc. | 1,750 | 277,183 | |
Wyndham Hotels & Resorts, Inc. | 5,810 | 441,153 | |
3,185,263 | |||
HOUSEHOLD DURABLES (1.7%) | |||
Cavco Industries, Inc.(a) | 500 | 113,335 | |
Century Communities, Inc. | 1,740 | 77,447 | |
Ethan Allen Interiors, Inc. | 1,690 | 43,247 | |
Green Brick Partners, Inc.(a) | 1,270 | 29,375 | |
Helen of Troy Ltd.(a) | 1,400 | 132,468 | |
Installed Building Products, Inc. | 1,400 | 120,400 | |
iRobot Corp.(a) | 1,580 | 89,270 | |
KB Home | 5,740 | 165,427 |
Shares | Value | ||
La-Z-Boy, Inc. | 2,770 | $ 68,613 | |
Leggett & Platt, Inc. | 8,050 | 271,687 | |
LGI Homes, Inc.(a) | 1,260 | 115,983 | |
M.D.C Holdings, Inc. | 4,213 | 128,328 | |
M/I Homes, Inc.(a) | 1,780 | 73,852 | |
Meritage Homes Corp.(a) | 2,050 | 156,128 | |
Sonos, Inc.(a) | 5,930 | 95,592 | |
Taylor Morrison Home Corp.(a) | 8,022 | 211,299 | |
Tempur Sealy International, Inc. | 11,140 | 299,555 | |
Toll Brothers, Inc. | 6,710 | 289,067 | |
TopBuild Corp.(a) | 1,880 | 319,863 | |
Tri Pointe Homes, Inc.(a) | 7,910 | 132,493 | |
Tupperware Brands Corp.(a) | 3,130 | 24,195 | |
Universal Electronics, Inc.(a) | 870 | 17,757 | |
2,975,381 | |||
HOUSEHOLD PRODUCTS (0.2%) | |||
Central Garden & Pet Co.(a) | 490 | 20,222 | |
Central Garden & Pet Co., Class A(a) | 2,790 | 109,201 | |
Energizer Holdings, Inc. | 4,160 | 120,182 | |
WD-40 Co. | 812 | 130,050 | |
379,655 | |||
INDEPENDENT POWER AND RENEWABLE ELECTRICITY PRODUCERS (0.1%) | |||
Ormat Technologies, Inc. | 2,540 | 229,743 | |
INSURANCE (3.8%) | |||
Ambac Financial Group, Inc.(a) | 3,130 | 43,977 | |
American Equity Investment Life Holding Co. | 5,140 | 221,431 | |
American Financial Group, Inc. | 3,910 | 567,380 | |
AMERISAFE, Inc. | 960 | 56,074 | |
Assured Guaranty Ltd. | 3,620 | 214,268 | |
Brighthouse Financial, Inc.(a) | 4,220 | 240,835 | |
CNO Financial Group, Inc. | 8,370 | 184,642 | |
Employers Holdings, Inc. | 1,790 | 78,062 | |
First American Financial Corp. | 6,120 | 308,448 | |
Genworth Financial, Inc., Class A(a) | 32,420 | 151,401 | |
Hanover Insurance Group, Inc. (The) | 2,050 | 300,305 | |
HCI Group, Inc. | 520 | 19,053 | |
Horace Mann Educators Corp. | 2,710 | 106,937 | |
James River Group Holdings Ltd. | 2,340 | 59,132 | |
Kemper Corp. | 3,412 | 162,650 | |
Kinsale Capital Group, Inc. | 1,230 | 387,659 | |
Mercury General Corp. | 1,810 | 52,490 | |
Old Republic International Corp. | 18,870 | 437,973 | |
Palomar Holdings, Inc.(a) | 1,420 | 126,323 |
Shares | Value | ||
Primerica, Inc. | 2,230 | $ 322,681 | |
ProAssurance Corp. | 3,130 | 69,517 | |
Reinsurance Group of America, Inc. | 3,780 | 556,303 | |
RenaissanceRe Holdings Ltd. | 2,530 | 391,340 | |
RLI Corp. | 2,350 | 305,664 | |
Safety Insurance Group, Inc. | 630 | 54,779 | |
Selective Insurance Group, Inc. | 3,380 | 331,510 | |
Selectquote, Inc.(a) | 7,030 | 4,738 | |
SiriusPoint Ltd.(a) | 12,150 | 78,003 | |
Stewart Information Services Corp. | 1,500 | 58,440 | |
Trupanion, Inc.(a) | 1,960 | 98,921 | |
United Fire Group, Inc. | 1,750 | 47,425 | |
Universal Insurance Holdings, Inc. | 2,360 | 23,694 | |
Unum Group | 11,430 | 521,094 | |
6,583,149 | |||
INTERACTIVE MEDIA & SERVICES (0.4%) | |||
Cars.com, Inc.(a) | 3,830 | 53,160 | |
QuinStreet, Inc.(a) | 3,500 | 39,935 | |
Shutterstock, Inc. | 1,410 | 70,542 | |
TripAdvisor, Inc.(a) | 6,380 | 150,696 | |
Yelp, Inc.(a) | 4,470 | 171,693 | |
Ziff Davis, Inc.(a) | 2,700 | 208,953 | |
694,979 | |||
INTERNET & DIRECT MARKETING RETAIL (0.0%) | |||
Liquidity Services, Inc.(a) | 1,830 | 31,440 | |
PetMed Express, Inc. | 1,470 | 31,340 | |
62,780 | |||
IT SERVICES (1.8%) | |||
Concentrix Corp. | 2,478 | 302,886 | |
CSG Systems International, Inc. | 2,130 | 137,747 | |
Euronet Worldwide, Inc.(a) | 2,910 | 244,469 | |
EVERTEC, Inc. | 4,250 | 152,192 | |
ExlService Holdings, Inc.(a) | 1,910 | 347,333 | |
Genpact Ltd. | 10,950 | 531,075 | |
Kyndryl Holdings, Inc.(a) | 11,070 | 107,047 | |
MAXIMUS, Inc. | 3,580 | 220,779 | |
Perficient, Inc.(a) | 1,980 | 132,601 | |
Sabre Corp.(a) | 18,980 | 110,274 | |
TTEC Holdings, Inc. | 1,230 | 54,698 | |
Unisys Corp.(a) | 4,120 | 35,020 | |
Western Union Co. (The) | 26,570 | 358,961 | |
WEX, Inc.(a) | 2,582 | 423,809 | |
3,158,891 |
Shares | Value | ||
LEISURE PRODUCTS (0.9%) | |||
Brunswick Corp. | 4,220 | $ 298,227 | |
Mattel, Inc.(a) | 20,930 | 396,833 | |
Polaris, Inc. | 3,260 | 331,216 | |
Sturm Ruger & Co., Inc. | 1,030 | 57,814 | |
Topgolf Callaway Brands Corp.(a) | 7,640 | 143,021 | |
Vista Outdoor, Inc.(a) | 3,370 | 97,865 | |
YETI Holdings, Inc.(a) | 9,530 | 305,722 | |
1,630,698 | |||
LIFE SCIENCES TOOLS & SERVICES (1.1%) | |||
Azenta, Inc. | 4,340 | 192,696 | |
BioLife Solutions, Inc.(a) | 1,960 | 46,099 | |
Bruker Corp. | 6,080 | 375,987 | |
Medpace Holdings, Inc.(a) | 1,520 | 337,409 | |
NeoGenomics, Inc.(a) | 7,740 | 58,863 | |
Repligen Corp.(a) | 2,930 | 534,696 | |
Sotera Health Co.(a) | 5,750 | 39,560 | |
Syneos Health, Inc.(a) | 5,860 | 295,227 | |
1,880,537 | |||
MACHINERY (4.6%) | |||
3D Systems Corp.(a) | 7,700 | 67,991 | |
AGCO Corp. | 3,500 | 434,595 | |
Alamo Group, Inc. | 450 | 68,436 | |
Albany International Corp., Class A | 1,720 | 157,586 | |
Astec Industries, Inc. | 1,290 | 56,308 | |
Barnes Group, Inc. | 2,990 | 105,756 | |
Chart Industries, Inc.(a) | 2,010 | 447,989 | |
CIRCOR International, Inc.(a) | 1,050 | 21,704 | |
Crane Holdings Co. | 2,730 | 273,928 | |
Donaldson Co., Inc. | 7,170 | 411,916 | |
Enerpac Tool Group Corp. | 3,220 | 81,820 | |
EnPro Industries, Inc. | 1,030 | 109,695 | |
Esab Corp. | 2,743 | 102,314 | |
ESCO Technologies, Inc. | 1,240 | 106,851 | |
Federal Signal Corp. | 3,710 | 173,071 | |
Flowserve Corp. | 7,850 | 225,138 | |
Franklin Electric Co., Inc. | 2,340 | 191,740 | |
Graco, Inc. | 10,010 | 696,496 | |
Greenbrier Cos., Inc. (The) | 1,910 | 67,442 | |
Hillenbrand, Inc. | 4,550 | 201,019 | |
ITT, Inc. | 4,670 | 356,741 | |
John Bean Technologies Corp. | 1,765 | 160,968 | |
Kennametal, Inc. | 5,110 | 136,488 | |
Lincoln Electric Holdings, Inc. | 3,290 | 467,180 | |
Lindsay Corp. | 570 | 96,501 | |
Middleby Corp. (The)(a) | 3,080 | 430,769 |
Shares | Value | ||
Mueller Industries, Inc. | 3,260 | $ 204,206 | |
Oshkosh Corp. | 3,460 | 304,480 | |
Proto Labs, Inc.(a) | 1,640 | 62,632 | |
SPX Technologies, Inc.(a) | 2,730 | 179,743 | |
Standex International Corp. | 470 | 46,554 | |
Tennant Co. | 980 | 57,085 | |
Terex Corp. | 4,240 | 171,890 | |
Timken Co. (The) | 3,900 | 278,031 | |
Titan International, Inc.(a) | 3,580 | 53,557 | |
Toro Co. (The) | 5,790 | 610,440 | |
Trinity Industries, Inc. | 5,430 | 154,918 | |
Wabash National Corp. | 3,350 | 72,527 | |
Watts Water Technologies, Inc., Class A | 1,500 | 219,540 | |
8,066,045 | |||
MARINE (0.2%) | |||
Kirby Corp.(a) | 3,240 | 225,990 | |
Matson, Inc. | 2,300 | 169,234 | |
395,224 | |||
MEDIA (0.7%) | |||
AMC Networks, Inc., Class A(a) | 1,770 | 39,843 | |
Cable One, Inc. | 294 | 252,672 | |
EW Scripps Co. (The), Class A(a) | 4,230 | 60,024 | |
Gannett Co., Inc.(a) | 9,232 | 13,386 | |
John Wiley & Sons, Inc., Class A | 2,570 | 108,428 | |
New York Times Co. (The), Class A | 9,910 | 286,994 | |
Scholastic Corp. | 2,000 | 76,280 | |
TechTarget, Inc.(a) | 1,660 | 107,153 | |
TEGNA, Inc. | 13,770 | 287,518 | |
Thryv Holdings, Inc.(a) | 1,120 | 22,915 | |
1,255,213 | |||
METALS & MINING (2.7%) | |||
Alcoa Corp. | 10,260 | 400,448 | |
Arconic Corp.(a) | 6,200 | 128,712 | |
ATI, Inc.(a) | 7,680 | 228,557 | |
Carpenter Technology Corp. | 2,700 | 100,980 | |
Century Aluminum Co.(a) | 3,330 | 24,009 | |
Cleveland-Cliffs, Inc.(a) | 27,538 | 357,719 | |
Commercial Metals Co. | 7,020 | 319,410 | |
Compass Minerals International, Inc. | 1,850 | 73,149 | |
Haynes International, Inc. | 650 | 31,792 | |
Kaiser Aluminum Corp. | 750 | 60,592 | |
Materion Corp. | 1,090 | 93,424 | |
MP Materials Corp.(a) | 4,920 | 147,797 | |
Olympic Steel, Inc. | 700 | 19,047 | |
Reliance Steel & Aluminum Co. | 3,340 | 672,943 |
Shares | Value | ||
Royal Gold, Inc. | 5,420 | $ 514,683 | |
Steel Dynamics, Inc. | 9,990 | 939,559 | |
SunCoke Energy, Inc. | 6,340 | 46,028 | |
TimkenSteel Corp.(a) | 2,885 | 50,314 | |
United States Steel Corp. | 14,660 | 298,478 | |
Warrior Met Coal, Inc. | 2,930 | 108,820 | |
Worthington Industries, Inc. | 2,010 | 95,596 | |
4,712,057 | |||
MORTGAGE REAL ESTATE INVESTMENT TRUSTS (0.6%) | |||
Annaly Capital Management, Inc. | 18,760 | 347,998 | |
Apollo Commercial Real Estate Finance, Inc. | 9,200 | 103,592 | |
Armour Residential REIT, Inc. | 3,580 | 19,046 | |
Ellington Financial, Inc. | 2,800 | 37,464 | |
Franklin BSP Realty Trust, Inc. | 2,986 | 42,073 | |
Granite Point Mortgage Trust, Inc. | 3,550 | 27,903 | |
Invesco Mortgage Capital, Inc. | 1,447 | 16,944 | |
KKR Real Estate Finance Trust, Inc. | 3,250 | 56,615 | |
New York Mortgage Trust, Inc. | 22,570 | 60,713 | |
Pennymac Mortgage Investment Trust | 6,300 | 87,381 | |
Ready Capital Corp. | 4,730 | 57,327 | |
Redwood Trust, Inc. | 7,420 | 52,905 | |
Two Harbors Investment Corp. | 16,750 | 59,630 | |
969,591 | |||
MULTILINE RETAIL (0.5%) | |||
Big Lots, Inc. | 2,030 | 38,306 | |
Kohl's Corp. | 7,380 | 221,031 | |
Macy's, Inc. | 16,410 | 342,149 | |
Nordstrom, Inc. | 6,860 | 139,532 | |
Ollie's Bargain Outlet Holdings, Inc.(a) | 3,380 | 189,280 | |
930,298 | |||
MULTI-UTILITIES (0.3%) | |||
Avista Corp. | 4,270 | 175,198 | |
Black Hills Corp. | 3,560 | 232,717 | |
NorthWestern Corp. | 3,080 | 162,717 | |
Unitil Corp. | 900 | 47,439 | |
618,071 | |||
OIL, GAS & CONSUMABLE FUELS (3.8%) | |||
Antero Midstream Corp. | 20,950 | 223,117 | |
Callon Petroleum Co.(a) | 2,595 | 114,076 | |
Civitas Resources, Inc. | 3,270 | 228,606 | |
CNX Resources Corp.(a) | 12,620 | 212,142 | |
CONSOL Energy, Inc. | 1,767 | 111,356 | |
Dorian LPG Ltd. | 1,410 | 25,479 | |
DT Midstream, Inc. | 5,210 | 311,037 |
Shares | Value | ||
EQT Corp. | 20,280 | $ 848,515 | |
Equitrans Midstream Corp. | 24,280 | 204,438 | |
Green Plains, Inc.(a) | 3,320 | 95,915 | |
HF Sinclair Corp. | 8,470 | 518,110 | |
Laredo Petroleum, Inc.(a) | 937 | 60,577 | |
Matador Resources Co. | 6,100 | 405,345 | |
Murphy Oil Corp. | 8,200 | 397,782 | |
Par Pacific Holdings, Inc.(a) | 3,510 | 80,309 | |
PBF Energy, Inc., Class A(a) | 5,780 | 255,765 | |
PDC Energy, Inc. | 5,218 | 376,427 | |
Range Resources Corp. | 14,320 | 407,834 | |
Ranger Oil Corp., Class A | 1,250 | 51,125 | |
REX American Resources Corp.(a) | 660 | 19,793 | |
SM Energy Co. | 6,800 | 305,864 | |
Southwestern Energy Co.(a) | 57,540 | 398,752 | |
Talos Energy, Inc.(a) | 2,940 | 62,563 | |
Targa Resources Corp. | 12,740 | 871,034 | |
World Fuel Services Corp. | 3,790 | 96,607 | |
6,682,568 | |||
PAPER & FOREST PRODUCTS (0.3%) | |||
Clearwater Paper Corp.(a) | 1,050 | 46,704 | |
Louisiana-Pacific Corp. | 4,710 | 266,821 | |
Mercer International, Inc. | 4,510 | 60,524 | |
Sylvamo Corp. | 2,080 | 100,194 | |
474,243 | |||
PERSONAL PRODUCTS (0.5%) | |||
BellRing Brands, Inc.(a) | 5,838 | 141,396 | |
Coty, Inc., Class A(a) | 20,900 | 140,239 | |
Edgewell Personal Care Co. | 3,170 | 124,232 | |
elf Beauty, Inc.(a) | 2,700 | 116,802 | |
Inter Parfums, Inc. | 1,130 | 91,395 | |
Medifast, Inc. | 700 | 81,893 | |
Nu Skin Enterprises, Inc., Class A | 2,940 | 112,279 | |
USANA Health Sciences, Inc.(a) | 700 | 36,757 | |
844,993 | |||
PHARMACEUTICALS (0.9%) | |||
Amphastar Pharmaceuticals, Inc.(a) | 2,910 | 89,919 | |
Cara Therapeutics, Inc.(a) | 2,880 | 27,072 | |
Collegium Pharmaceutical, Inc.(a) | 2,440 | 43,774 | |
Harmony Biosciences Holdings, Inc.(a) | 1,420 | 73,840 | |
Innoviva, Inc.(a) | 4,480 | 60,749 | |
Jazz Pharmaceuticals PLC(a) | 3,550 | 510,454 | |
Nektar Therapeutics(a) | 10,740 | 40,382 | |
Pacira BioSciences, Inc.(a) | 2,600 | 134,576 | |
Perrigo Co. PLC | 7,810 | 314,587 |
Shares | Value | ||
Phibro Animal Health Corp., Class A | 1,400 | $ 20,566 | |
Prestige Consumer Healthcare, Inc.(a) | 2,920 | 159,082 | |
Supernus Pharmaceuticals, Inc.(a) | 3,490 | 119,602 | |
1,594,603 | |||
PROFESSIONAL SERVICES (2.0%) | |||
ASGN, Inc.(a) | 2,870 | 243,319 | |
CACI International, Inc., Class A(a) | 1,347 | 409,528 | |
Exponent, Inc. | 2,960 | 281,970 | |
Forrester Research, Inc.(a) | 780 | 33,010 | |
FTI Consulting, Inc.(a) | 2,010 | 312,816 | |
Heidrick & Struggles International, Inc. | 1,020 | 28,723 | |
Insperity, Inc. | 2,060 | 243,121 | |
KBR, Inc. | 8,070 | 401,644 | |
Kelly Services, Inc., Class A | 11,460 | 187,256 | |
Korn Ferry | 5,600 | 311,304 | |
ManpowerGroup, Inc. | 5,170 | 405,018 | |
Resources Connection, Inc. | 2,440 | 44,579 | |
Science Applications International Corp. | 3,194 | 346,038 | |
TrueBlue, Inc.(a) | 9,630 | 189,326 | |
3,437,652 | |||
REAL ESTATE MANAGEMENT & DEVELOPMENT (0.5%) | |||
Anywhere Real Estate, Inc.(a) | 7,430 | 55,205 | |
Douglas Elliman, Inc. | 2,230 | 10,303 | |
Jones Lang LaSalle, Inc.(a) | 3,828 | 608,997 | |
Marcus & Millichap, Inc. | 1,880 | 69,259 | |
RE/MAX Holdings, Inc., Class A | 930 | 18,098 | |
St Joe Co. (The) | 2,250 | 79,942 | |
841,804 | |||
ROAD & RAIL (1.5%) | |||
ArcBest Corp. | 1,380 | 109,613 | |
Avis Budget Group, Inc.(a) | 1,700 | 401,982 | |
Heartland Express, Inc. | 2,983 | 44,387 | |
Knight-Swift Transportation Holdings, Inc. | 9,280 | 445,719 | |
Landstar System, Inc. | 2,140 | 334,311 | |
Marten Transport Ltd. | 5,189 | 97,398 | |
Ryder System, Inc. | 5,210 | 419,457 | |
Saia, Inc.(a) | 1,490 | 296,301 | |
Werner Enterprises, Inc. | 4,020 | 157,584 | |
XPO Logistics, Inc.(a) | 6,000 | 310,440 | |
2,617,192 | |||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (3.0%) | |||
Alpha & Omega Semiconductor Ltd.(a) | 920 | 30,130 | |
Amkor Technology, Inc. | 6,260 | 130,145 | |
Axcelis Technologies, Inc.(a) | 1,920 | 111,360 |
Shares | Value | ||
CEVA, Inc.(a) | 1,400 | $ 38,724 | |
Cirrus Logic, Inc.(a) | 3,100 | 208,072 | |
Cohu, Inc.(a) | 3,030 | 99,748 | |
Diodes, Inc.(a) | 2,480 | 177,742 | |
First Solar, Inc.(a) | 5,580 | 812,280 | |
FormFactor, Inc.(a) | 4,660 | 94,179 | |
Ichor Holdings Ltd.(a) | 1,700 | 43,248 | |
Kulicke & Soffa Industries, Inc. | 3,450 | 144,693 | |
Lattice Semiconductor Corp.(a) | 8,080 | 391,961 | |
MACOM Technology Solutions Holdings, Inc.(a) | 2,590 | 149,883 | |
MaxLinear, Inc.(a) | 4,100 | 126,608 | |
MKS Instruments, Inc. | 2,950 | 242,342 | |
Onto Innovation, Inc.(a) | 2,729 | 182,406 | |
PDF Solutions, Inc.(a) | 1,850 | 43,623 | |
Photronics, Inc.(a) | 3,790 | 61,474 | |
Power Integrations, Inc. | 3,290 | 219,476 | |
Rambus, Inc.(a) | 6,750 | 203,580 | |
Semtech Corp.(a) | 3,610 | 99,961 | |
Silicon Laboratories, Inc.(a) | 1,990 | 228,691 | |
SiTime Corp.(a) | 890 | 79,931 | |
SMART Global Holdings, Inc.(a) | 2,820 | 38,155 | |
Synaptics, Inc.(a) | 2,230 | 197,578 | |
Ultra Clean Holdings, Inc.(a) | 2,670 | 83,064 | |
Universal Display Corp. | 4,030 | 383,737 | |
Veeco Instruments, Inc.(a) | 3,049 | 55,583 | |
Wolfspeed, Inc.(a) | 6,950 | 547,312 | |
5,225,686 | |||
SOFTWARE (2.8%) | |||
8x8, Inc.(a) | 7,020 | 29,695 | |
A10 Networks, Inc. | 1,680 | 28,224 | |
ACI Worldwide, Inc.(a) | 7,240 | 176,149 | |
Adeia, Inc. | 6,239 | 69,752 | |
Agilysys, Inc.(a) | 1,330 | 85,346 | |
Alarm.com Holdings, Inc.(a) | 2,790 | 164,164 | |
Aspen Technology, Inc.(a) | 1,622 | 391,632 | |
Blackbaud, Inc.(a) | 2,560 | 140,032 | |
Cerence, Inc.(a) | 2,290 | 39,388 | |
CommVault Systems, Inc.(a) | 2,770 | 168,665 | |
Consensus Cloud Solution, Inc.(a) | 950 | 53,333 | |
Digital Trubine, Inc.(a) | 5,390 | 78,694 | |
Dynatrace, Inc.(a) | 10,850 | 382,354 | |
Ebix, Inc. | 1,630 | 32,258 | |
Envestnet, Inc.(a) | 3,120 | 153,847 | |
Fair Isaac Corp.(a) | 1,438 | 688,572 | |
InterDigital, Inc. | 1,620 | 80,789 |
Shares | Value | ||
LivePerson, Inc.(a) | 4,190 | $ 44,288 | |
LiveRamp Holdings, Inc.(a) | 4,070 | 74,725 | |
Manhattan Associates, Inc.(a) | 3,580 | 435,579 | |
NCR Corp.(a) | 7,740 | 164,552 | |
OneSpan, Inc.(a) | 2,560 | 28,134 | |
Paylocity Holding Corp.(a) | 2,330 | 540,071 | |
Progress Software Corp. | 2,750 | 140,333 | |
Qualys, Inc.(a) | 1,940 | 276,567 | |
SPS Commerce, Inc.(a) | 2,060 | 260,631 | |
Teradata Corp.(a) | 6,310 | 199,333 | |
Xperi, Inc.(a) | 2,495 | 34,855 | |
4,961,962 | |||
SPECIALTY RETAIL (3.5%) | |||
Aaron's Co., Inc. (The) | 2,165 | 22,559 | |
Abercrombie & Fitch Co., Class A(a) | 3,510 | 61,706 | |
Academy Sports & Outdoors, Inc. | 4,670 | 205,620 | |
American Eagle Outfitters, Inc. | 9,910 | 112,578 | |
America's Car-Mart, Inc.(a) | 410 | 28,028 | |
Asbury Automotive Group, Inc.(a) | 1,300 | 205,075 | |
AutoNation, Inc.(a) | 2,260 | 240,261 | |
Bed Bath & Beyond, Inc.(a) | 5,680 | 25,958 | |
Boot Barn Holdings, Inc.(a) | 1,790 | 101,672 | |
Buckle, Inc. (The) | 2,055 | 80,823 | |
Caleres, Inc. | 2,455 | 67,095 | |
Cato Corp. (The), Class A | 1,420 | 16,912 | |
Chico's FAS, Inc.(a) | 8,030 | 47,216 | |
Children's Place, Inc. (The)(a) | 800 | 32,384 | |
Conn's, Inc.(a) | 1,590 | 13,054 | |
Designer Brands, Inc., Class A | 4,540 | 69,144 | |
Dick's Sporting Goods, Inc. | 3,410 | 387,922 | |
Five Below, Inc.(a) | 3,270 | 478,564 | |
Foot Locker, Inc. | 5,240 | 166,108 | |
GameStop Corp., Class A(a) | 14,000 | 396,340 | |
Gap, Inc. (The) | 25,670 | 289,301 | |
Genesco, Inc.(a) | 810 | 38,102 | |
Group 1 Automotive, Inc. | 2,060 | 356,380 | |
Guess?, Inc. | 2,710 | 46,016 | |
Haverty Furniture Cos., Inc. | 1,190 | 31,630 | |
Hibbett, Inc. | 760 | 47,439 | |
Leslie's, Inc.(a) | 6,030 | 84,661 | |
Lithia Motors, Inc. | 1,670 | 330,910 | |
LL Flooring Holdings, Inc.(a) | 2,090 | 17,389 | |
MarineMax, Inc.(a) | 1,410 | 45,557 | |
Monro, Inc. | 2,115 | 100,991 | |
National Vision Holdings, Inc.(a) | 4,170 | 154,457 | |
ODP Corp. (The)(a) | 2,698 | 106,760 |
Shares | Value | ||
Rent-A-Center, Inc. | 3,810 | $ 79,438 | |
RH (a) | 1,240 | 314,873 | |
Sally Beauty Holdings, Inc.(a) | 7,200 | 91,512 | |
Shoe Carnival, Inc. | 1,370 | 32,853 | |
Signet Jewelers Ltd. | 2,780 | 181,367 | |
Sleep Number Corp.(a) | 1,420 | 39,391 | |
Sonic Automotive, Inc., Class A | 1,430 | 66,853 | |
Urban Outfitters, Inc.(a) | 4,430 | 105,700 | |
Victoria's Secret & Co.(a) | 4,490 | 168,824 | |
Williams-Sonoma, Inc. | 5,200 | 643,916 | |
Zumiez, Inc.(a) | 1,460 | 32,748 | |
6,166,087 | |||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS (0.2%) | |||
Avid Technology, Inc.(a) | 1,640 | 45,083 | |
Corsair Gaming, Inc.(a) | 1,960 | 27,048 | |
Diebold Nixdorf, Inc.(a) | 5,640 | 14,044 | |
Xerox Holdings Corp. | 15,090 | 220,767 | |
306,942 | |||
TEXTILES, APPAREL & LUXURY GOODS (1.9%) | |||
Capri Holdings Ltd.(a) | 8,390 | 383,255 | |
Carter's, Inc. | 2,270 | 154,065 | |
Columbia Sportswear Co. | 4,480 | 333,760 | |
Crocs, Inc.(a) | 3,610 | 255,407 | |
Deckers Outdoor Corp.(a) | 2,060 | 720,856 | |
G-III Apparel Group Ltd.(a) | 2,890 | 56,355 | |
Hanesbrands, Inc. | 26,560 | 181,139 | |
Kontoor Brands, Inc. | 3,020 | 107,814 | |
Movado Group, Inc. | 6,130 | 202,719 | |
Oxford Industries, Inc. | 890 | 90,540 | |
PVH Corp. | 3,550 | 182,186 | |
Skechers USA, Inc., Class A(a) | 8,210 | 282,670 | |
Steven Madden Ltd. | 4,875 | 145,616 | |
Under Armour, Inc., Class A(a) | 13,750 | 102,438 | |
Unifi, Inc.(a) | 1,130 | 10,306 | |
Wolverine World Wide, Inc. | 5,130 | 87,877 | |
3,297,003 | |||
THRIFTS & MORTGAGE FINANCE (1.1%) | |||
Axos Financial, Inc.(a) | 3,410 | 132,854 | |
Capitol Federal Financial, Inc. | 6,050 | 49,489 | |
Essent Group Ltd. | 6,120 | 242,230 | |
Flagstar Bancorp, Inc. | 2,970 | 114,939 | |
MGIC Investment Corp. | 19,610 | 267,676 | |
Mr. Cooper Group, Inc.(a) | 4,200 | 165,858 | |
New York Community Bancorp, Inc. | 27,620 | 257,142 |
Shares | Value | ||
NMI Holdings, Inc., Class A(a) | 5,270 | $ 115,571 | |
Northfield Bancorp, Inc. | 4,010 | 64,320 | |
Provident Financial Services, Inc. | 3,730 | 83,627 | |
TrustCo Bank Corp. NY | 800 | 29,856 | |
Walker & Dunlop, Inc. | 1,750 | 157,430 | |
WSFS Financial Corp. | 3,730 | 173,669 | |
1,854,661 | |||
TRADING COMPANIES & DISTRIBUTORS (1.1%) | |||
Applied Industrial Technologies, Inc. | 2,040 | 253,735 | |
Boise Cascade Co. | 2,150 | 143,556 | |
DXP Enterprises, Inc.(a) | 1,150 | 32,902 | |
GATX Corp. | 1,980 | 207,326 | |
GMS, Inc.(a) | 2,540 | 119,888 | |
MSC Industrial Direct Co., Inc., Class A | 2,490 | 206,620 | |
NOW, Inc.(a) | 7,140 | 90,892 | |
Univar Solutions, Inc.(a) | 10,530 | 268,304 | |
Veritiv Corp.(a) | 770 | 89,520 | |
Watsco, Inc. | 1,850 | 501,276 | |
1,914,019 | |||
WATER UTILITIES (0.6%) | |||
American States Water Co. | 2,070 | 187,252 | |
California Water Service Group | 3,190 | 197,972 | |
Essential Utilities, Inc. | 14,582 | 644,816 | |
Middlesex Water Co. | 970 | 86,786 | |
1,116,826 | |||
WIRELESS TELECOMMUNICATION SERVICES (0.1%) | |||
Gogo, Inc.(a) | 3,880 | 55,173 |
Shares | Value | ||
Shenandoah Telecommunications Co. | 2,630 | $ 59,596 | |
Telephone and Data Systems, Inc. | 6,680 | 113,560 | |
228,329 | |||
TOTAL COMMON STOCKS (COST $167,381,516) | 172,331,009 | ||
RIGHT (0.0%) | |||
BIOTECHNOLOGY (0.0%) | |||
Progenics Pharmaceuticals, Inc.(a)(b) | 7,180 | — | |
TOTAL RIGHT (COST $—) | — | ||
MONEY MARKET FUND (1.6%) | |||
Northern Institutional Treasury Portfolio (Premier Class), 2.48%(c) | 2,754,517 | 2,754,517 | |
TOTAL MONEY MARKET FUND (COST $2,754,517) | 2,754,517 | ||
TOTAL INVESTMENTS (COST $170,136,033) 100.0% | 175,085,526 | ||
LIABILITIES IN EXCESS OF OTHER ASSETS 0.0% | (12,611) | ||
NET ASSETS 100.0% | $ 175,072,915 | ||
Amounts designated as ‘‘—’’ are $0 or have been rounded to $0. |
(a) | Represents non-income producing security. |
(b) | Security is a Level 3 investment. |
(c) | 7-day current yield as of October 31, 2022 is disclosed. |
PLC — Public Limited Company |
REIT — Real Estate Investment Trust |
Steward Covered Call Income Fund | Steward Equity Market Neutral Fund | Steward Global Equity Income Fund | |||
Assets: | |||||
Investments, at value (cost $40,105,792, $96,080,622 and $294,297,623, respectively) | $ 36,748,649 | $ 95,855,092 | $288,660,598 | ||
Interest and dividend receivable | 38,930 | 69,740 | 798,694 | ||
Receivable for investments sold | 39,823 | 4,136,178 | — | ||
Receivable for capital shares issued | 6,297 | 91,827 | 209,104 | ||
Reclaims receivable | — | — | 111,439 | ||
Prepaid investment advisory fees | 18,801 | — | — | ||
Prepaid expenses and other assets | 2,801 | 34,758 | 21,221 | ||
Total assets | 36,855,301 | 100,187,595 | 289,801,056 | ||
Liabilities: | |||||
Payable for investments purchased | 5,240 | 1,040,648 | — | ||
Payable for capital shares redeemed | 12,399 | 27,878 | 108,974 | ||
Short positions at fair value (proceeds $0, $33,992,927 and $0, respectively) | — | 28,754,328 | — | ||
Written options at fair value (premiums received $835,885, $0 and $0, respectively) | 1,905,805 | — | — | ||
Accrued expenses and other payables: | |||||
Investment advisory fees | 17,950 | 50,892 | 146,437 | ||
Administration fees | 2,154 | 3,817 | 17,573 | ||
Distribution fees - Class A | 185 | 561 | 9,544 | ||
Distribution fees - Class C | 685 | — | 1,757 | ||
Sub-accounting service fees - Class A | — | — | 704 | ||
Sub-accounting service fees - Class C | 10 | — | 147 | ||
Sub-accounting service fees - Institutional Class | 6,081 | 37 | 50,419 | ||
Fund accounting and sub-administration fees | 10,930 | 10,930 | 30,555 | ||
Transfer agent fees | 5,123 | 1,281 | 5,123 | ||
Custodian fees | 2,687 | — | 10,624 | ||
Printing fees | 696 | 1,971 | — | ||
Professional fees | 2,012 | 2,362 | 24,225 | ||
Other accrued liabilities | 10,854 | 3,655 | 2,750 | ||
Total liabilities | 1,982,811 | 29,898,360 | 408,832 | ||
Net Assets | $ 34,872,490 | $ 70,289,235 | $289,392,224 | ||
Composition of Net Assets: | |||||
Capital (par value and paid-in surplus) | 37,761,925 | 66,005,752 | 275,301,650 | ||
Total distributable earnings/(accumulated deficit) | (2,889,435) | 4,283,483 | 14,090,574 | ||
Net Assets | $ 34,872,490 | $ 70,289,235 | $289,392,224 | ||
Class A | |||||
Net Assets | $ 519,594 | $ 583,349 | $ 17,942,178 | ||
Shares authorized | 16,000,000 | 16,000,000 | 16,000,000 | ||
Shares issued and outstanding ($0.001 par value) | 68,851 | 20,991 | 616,673 | ||
Net asset value, offering and redemption price per share(a) | $ 7.55 | $ 27.79 | $ 29.10 | ||
Class C | |||||
Net Assets | $ 316,901 | — | $ 783,824 | ||
Shares authorized | 15,000,000 | — | 15,000,000 | ||
Shares issued and outstanding ($0.001 par value) | 42,152 | — | 25,587 | ||
Net asset value, offering and redemption price per share(a) | $ 7.52 | — | $ 30.63 | ||
Class R6 | |||||
Net Assets | $ 3,009 | — | $ 280,141 | ||
Shares authorized | 16,000,000 | — | 16,000,000 | ||
Shares issued and outstanding ($0.001 par value) | 395 | — | 10,304 | ||
Net asset value, offering and redemption price per share(a) | $ 7.61 | — | $ 27.19 | ||
Institutional Class | |||||
Net Assets | $ 34,032,986 | $ 69,705,886 | $270,386,081 | ||
Shares authorized | 20,000,000 | 20,000,000 | 20,000,000 | ||
Shares issued and outstanding ($0.001 par value) | 4,461,742 | 2,500,353 | 9,277,799 | ||
Net asset value, offering and redemption price per share(a) | $ 7.63 | $ 27.88 | $ 29.14 |
(a) | Per share amounts may not recalculate due to rounding of net assets and shares outstanding. |
Steward International Enhanced Index Fund | Steward Large Cap Core Fund | Steward Large Cap Growth Fund | |||
Assets: | |||||
Investments, at value (cost $205,908,015, $75,471,142 and $60,623,691, respectively) | $177,990,660 | $ 70,022,557 | $ 54,875,004 | ||
Interest and dividend receivable | 270,847 | 31,841 | 16,744 | ||
Receivable for investments sold | 7,618,569 | 369,019 | 776,890 | ||
Receivable for capital shares issued | 88,443 | 18,225 | 78,260 | ||
Reclaims receivable | 164,210 | — | — | ||
Prepaid investment advisory fees | — | 14,559 | — | ||
Prepaid expenses and other assets | 14,428 | 22,673 | 39,763 | ||
Total assets | 186,147,157 | 70,478,874 | 55,786,661 | ||
Liabilities: | |||||
Cash overdraft | 4,249,771 | — | — | ||
Payable for investments purchased | 1,877,628 | 377,146 | 785,499 | ||
Payable for capital shares redeemed | 49,264 | 25,078 | 15,499 | ||
Accrued expenses and other payables: | |||||
Investment advisory fees | 56,766 | 28,208 | 22,240 | ||
Administration fees | 11,664 | 4,231 | 3,336 | ||
Distribution fees - Class A | 556 | 403 | 235 | ||
Sub-accounting service fees - Institutional Class | 32,949 | 1,154 | 152 | ||
Fund accounting and sub-administration fees | 21,519 | 10,930 | 10,930 | ||
Transfer agent fees | 5,123 | 1,281 | 1,281 | ||
Custodian fees | 7,111 | 2,349 | 1,122 | ||
Directors fees | — | 28 | — | ||
Printing fees | 2,967 | 3,363 | 2,909 | ||
Professional fees | 17,398 | 6,025 | 4,213 | ||
Other accrued liabilities | 2,065 | 1,879 | 1,879 | ||
Total liabilities | 6,334,781 | 462,075 | 849,295 | ||
Net Assets | $179,812,376 | $ 70,016,799 | $ 54,937,366 | ||
Composition of Net Assets: | |||||
Capital (par value and paid-in surplus) | 203,791,888 | 82,454,621 | 65,441,329 | ||
Total accumulated deficit | (23,979,512) | (12,437,822) | (10,503,963) | ||
Net Assets | $179,812,376 | $ 70,016,799 | $ 54,937,366 | ||
Class A | |||||
Net Assets | $ 4,250,853 | $ 455,556 | $ 278,537 | ||
Shares authorized | 16,000,000 | 16,000,000 | 16,000,000 | ||
Shares issued and outstanding ($0.001 par value) | 221,662 | 22,095 | 14,526 | ||
Net asset value, offering and redemption price per share(a) | $ 19.18 | $ 20.62 | $ 19.18 | ||
Class C | |||||
Net Assets | $ 786 | — | — | ||
Shares authorized | 15,000,000 | — | — | ||
Shares issued and outstanding ($0.001 par value) | 50 | — | — | ||
Net asset value, offering and redemption price per share(a) | $ 15.65 | — | — | ||
Class R6 | |||||
Net Assets | $ 564,307 | — | — | ||
Shares authorized | 16,000,000 | — | — | ||
Shares issued and outstanding ($0.001 par value) | 35,211 | — | — | ||
Net asset value, offering and redemption price per share(a) | $ 16.03 | — | — | ||
Institutional Class | |||||
Net Assets | $174,996,430 | $ 69,561,243 | $ 54,658,829 | ||
Shares authorized | 20,000,000 | 20,000,000 | 20,000,000 | ||
Shares issued and outstanding ($0.001 par value) | 9,111,570 | 3,365,748 | 2,843,511 | ||
Net asset value, offering and redemption price per share(a) | $ 19.21 | $ 20.67 | $ 19.22 |
(a) | Per share amounts may not recalculate due to rounding of net assets and shares outstanding. |
Steward Large Cap Value Fund | Steward Select Bond Fund | Steward Small Cap Growth Fund | |||
Assets: | |||||
Investments, at value (cost $61,393,521, $158,150,212 and $30,707,928, respectively) | $ 60,259,878 | $135,594,329 | $ 23,359,558 | ||
Interest and dividend receivable | 47,133 | 1,125,865 | 254 | ||
Receivable for investments sold | 189,836 | — | — | ||
Receivable for capital shares issued | 16,732 | 54,739 | 10,000 | ||
Prepaid investment advisory fees | 14,806 | — | — | ||
Prepaid expenses and other assets | 23,707 | 24,250 | 30,509 | ||
Total assets | 60,552,092 | 136,799,183 | 23,400,321 | ||
Liabilities: | |||||
Payable for investments purchased | 222,422 | — | — | ||
Payable for capital shares redeemed | 20,668 | 77,338 | 9,784 | ||
Accrued expenses and other payables: | |||||
Investment advisory fees | 23,997 | 36,609 | 14,165 | ||
Administration fees | 3,600 | 8,717 | 1,417 | ||
Distribution fees - Class A | 437 | 1,949 | 160 | ||
Sub-accounting service fees - Class A | — | 279 | — | ||
Sub-accounting service fees - Institutional Class | 112 | 34,309 | 985 | ||
Fund accounting and sub-administration fees | 10,930 | 18,904 | 10,930 | ||
Transfer agent fees | 1,281 | 5,123 | 1,281 | ||
Custodian fees | 2,432 | 5,676 | 1,234 | ||
Directors fees | 65 | — | 61 | ||
Printing fees | 3,138 | 2,606 | 2,980 | ||
Professional fees | 5,245 | 11,129 | 3,008 | ||
Other accrued liabilities | 1,879 | 2,824 | 1,879 | ||
Total liabilities | 296,206 | 205,463 | 47,884 | ||
Net Assets | $ 60,255,886 | $136,593,720 | $ 23,352,437 | ||
Composition of Net Assets: | |||||
Capital (par value and paid-in surplus) | 66,135,104 | 161,235,527 | 34,650,326 | ||
Total accumulated deficit | (5,879,218) | (24,641,807) | (11,297,889) | ||
Net Assets | $ 60,255,886 | $136,593,720 | $ 23,352,437 | ||
Class A | |||||
Net Assets | $ 509,152 | $ 2,756,793 | $ 176,132 | ||
Shares authorized | 16,000,000 | 16,000,000 | 16,000,000 | ||
Shares issued and outstanding ($0.001 par value) | 22,632 | 130,483 | 10,285 | ||
Net asset value, offering and redemption price per share(a) | $ 22.50 | $ 21.13 | $ 17.13 | ||
Class C | |||||
Net Assets | — | $ 3,737 | — | ||
Shares authorized | — | 13,000,000 | — | ||
Shares issued and outstanding ($0.001 par value) | — | 156 | — | ||
Net asset value, offering and redemption price per share(a) | — | $ 23.93 | — | ||
Class R6 | |||||
Net Assets | — | $ 871 | — | ||
Shares authorized | — | 16,000,000 | — | ||
Shares issued and outstanding ($0.001 par value) | — | 37 | — | ||
Net asset value, offering and redemption price per share(a) | — | $ 23.49 | — | ||
Institutional Class | |||||
Net Assets | $ 59,746,734 | $133,832,319 | $ 23,176,305 | ||
Shares authorized | 20,000,000 | 20,000,000 | 20,000,000 | ||
Shares issued and outstanding ($0.001 par value) | 2,649,403 | 6,370,055 | 1,350,430 | ||
Net asset value, offering and redemption price per share(a) | $ 22.55 | $ 21.01 | $ 17.16 |
(a) | Per share amounts may not recalculate due to rounding of net assets and shares outstanding. |
Steward Values-Focused Large Cap Enhanced Index Fund | Steward Values-Focused Small-Mid Cap Enhanced Index Fund | ||
Assets: | |||
Investments, at value (cost $203,041,229 and $170,136,033, respectively) | $206,082,345 | $175,085,526 | |
Interest and dividend receivable | 161,545 | 85,053 | |
Receivable for capital shares issued | 84,665 | 61,137 | |
Prepaid expenses and other assets | 31,703 | 18,368 | |
Total assets | 206,360,258 | 175,250,084 | |
Liabilities: | |||
Payable for capital shares redeemed | 64,789 | 19,734 | |
Accrued expenses and other payables: | |||
Investment advisory fees | 36,062 | 30,206 | |
Administration fees | 12,580 | 10,537 | |
Distribution fees - Class A | — | 19,490 | |
Distribution fees - Class C | 25 | — | |
Sub-accounting service fees - Class A | — | 1,116 | |
Sub-accounting service fees - Institutional Class | 63,933 | 31,583 | |
Fund accounting and sub-administration fees | 25,135 | 23,566 | |
Transfer agent fees | 5,123 | 5,123 | |
Custodian fees | 9,693 | 14,685 | |
Directors fees | — | 338 | |
Printing fees | 2,927 | 1,593 | |
Professional fees | 19,422 | 16,762 | |
Other accrued liabilities | 1,955 | 2,436 | |
Total liabilities | 241,644 | 177,169 | |
Net Assets | $206,118,614 | $175,072,915 | |
Composition of Net Assets: | |||
Capital (par value and paid-in surplus) | 133,975,838 | 133,638,244 | |
Total distributable earnings | 72,142,776 | 41,434,671 | |
Net Assets | $206,118,614 | $175,072,915 | |
Class A | |||
Net Assets | $ 10,017,629 | $ 45,519,698 | |
Shares authorized | 16,000,000 | 16,000,000 | |
Shares issued and outstanding ($0.001 par value) | 264,658 | 3,249,126 | |
Net asset value, offering and redemption price per share(a) | $ 37.85 | $ 14.01 | |
Class C | |||
Net Assets | $ 28,324 | $ 3,958 | |
Shares authorized | 15,000,000 | 15,000,000 | |
Shares issued and outstanding ($0.001 par value) | 876 | 314 | |
Net asset value, offering and redemption price per share(a) | $ 32.30 | $ 12.59 | |
Class R6 | |||
Net Assets | $ 520,933 | $ 353,321 | |
Shares authorized | 16,000,000 | 16,000,000 | |
Shares issued and outstanding ($0.001 par value) | 15,776 | 27,210 | |
Net asset value, offering and redemption price per share(a) | $ 33.02 | $ 12.99 | |
Institutional Class | |||
Net Assets | $195,551,728 | $129,195,938 | |
Shares authorized | 20,000,000 | 20,000,000 | |
Shares issued and outstanding ($0.001 par value) | 5,181,341 | 9,002,516 | |
Net asset value, offering and redemption price per share(a) | $ 37.74 | $ 14.35 |
(a) | Per share amounts may not recalculate due to rounding of net assets and shares outstanding. |
Steward Covered Call Income Fund | Steward Equity Market Neutral Fund | Steward Global Equity Income Fund | |||
Investment Income: | |||||
Dividends (net of foreign witholding tax of $184, $0 and $437,438, respectively) | $ 315,934 | $ 298,039 | $ 6,438,025 | ||
Interest | 4,697 | 159,050 | 43,817 | ||
Total investment income | 320,631 | 457,089 | 6,481,842 | ||
Expenses: | |||||
Dividends on securities sold short | — | 104,928 | — | ||
Brokerage expense on securities sold short | — | 33,526 | — | ||
Investment advisory fees | 104,804 | 202,247 | 900,740 | ||
Administration fees | 12,576 | 15,169 | 108,089 | ||
Distribution fees - Class A | 435 | 618 | 23,464 | ||
Distribution fees - Class C | 1,677 | — | 4,020 | ||
Sub-accounting services fees - Class A | 148 | 179 | 8,179 | ||
Sub-accounting services fees - Class C | 220 | — | 519 | ||
Sub-accounting services fees - Institutional Class | 17,262 | 11,343 | 157,901 | ||
Fund accounting and sub-administration fees | 32,263 | 32,263 | 80,723 | ||
Transfer agent fees | 15,123 | 3,781 | 15,123 | ||
Custodian fees | 25,565 | 4,728 | 27,207 | ||
Registration fees | 30,993 | 7,138 | 36,682 | ||
Directors fees | 3,203 | 3,760 | 37,251 | ||
Professional fees | 5,538 | 6,338 | 59,442 | ||
Printing fees | 1,359 | 735 | 9,115 | ||
Miscellaneous fees | 12,528 | 11,917 | 38,659 | ||
Total expenses | 263,694 | 438,670 | 1,507,114 | ||
Fees waived/reimbursed by the Adviser | (93,897) | — | — | ||
Net expenses | 169,797 | 438,670 | 1,507,114 | ||
Net investment income | 150,834 | 18,419 | 4,974,728 | ||
Realized and Unrealized Gain/(Loss): | |||||
Net realized gains/(losses) from investment transactions and foreign currency translation | (1,004,547) | (491,806) | 5,939,050 | ||
Net realized gains on investment securities sold short | — | 286,415 | — | ||
Net realized gains on options transactions | 2,374,894 | — | — | ||
Change in unrealized appreciation/(depreciation) on investment transactions and foreign currency transactions | (1,327,908) | 1,803,908 | (34,491,283) | ||
Change in unrealized appreciation on investment securities sold short | — | 1,231,318 | — | ||
Change in unrealized depreciation on options transactions | (1,074,186) | — | — | ||
Net realized and unrealized gains/(losses) from investment transactions, foreign currency translations and options transactions | (1,031,747) | 2,829,835 | (28,552,233) | ||
Change in net assets resulting from operations | $ (880,913) | $ 2,848,254 | $ (23,577,505) |
Steward International Enhanced Index Fund | Steward Large Cap Core Fund | Steward Large Cap Growth Fund | |||
Investment Income: | |||||
Dividends (net of foreign witholding tax of $445,781, $0 and $0, respectively) | $ 4,556,469 | $ 628,049 | $ 323,609 | ||
Interest | 12,729 | 881 | 951 | ||
Total investment income | 4,569,198 | 628,930 | 324,560 | ||
Expenses: | |||||
Investment advisory fees | 363,206 | 174,356 | 129,030 | ||
Administration fees | 74,632 | 26,153 | 19,355 | ||
Distribution fees - Class A | 6,204 | 520 | 309 | ||
Sub-accounting services fees - Class A | 1,395 | 158 | 55 | ||
Sub-accounting services fees - Institutional Class | 114,950 | 36,865 | 22,997 | ||
Fund accounting and sub-administration fees | 59,127 | 32,263 | 32,263 | ||
Transfer agent fees | 15,123 | 3,781 | 3,781 | ||
Custodian fees | 17,813 | 6,927 | 5,389 | ||
Registration fees | 31,606 | 5,648 | 6,538 | ||
Directors fees | 25,901 | 8,893 | 6,259 | ||
Professional fees | 40,860 | 14,175 | 10,191 | ||
Printing fees | 5,822 | 1,774 | 1,257 | ||
Miscellaneous fees | 27,916 | 14,091 | 12,305 | ||
Total expenses | 784,555 | 325,604 | 249,729 | ||
Fees waived/reimbursed by the Adviser | — | (63,550) | (55,876) | ||
Net expenses | 784,555 | 262,054 | 193,853 | ||
Net investment income | 3,784,643 | 366,876 | 130,707 | ||
Realized and Unrealized Gain/(Loss): | |||||
Net realized losses from investment transactions and foreign currency translation | (2,610,099) | (5,556,155) | (2,944,147) | ||
Change in unrealized appreciation/(depreciation) on investment transactions and foreign currency transactions | (27,722,174) | 2,485,807 | 246,488 | ||
Net realized and unrealized losses from investment transactions, foreign currency translations and options transactions | (30,332,273) | (3,070,348) | (2,697,659) | ||
Change in net assets resulting from operations | $ (26,547,630) | $ (2,703,472) | $ (2,566,952) |
Steward Large Cap Value Fund | Steward Select Bond Fund | Steward Small Cap Growth Fund | |||
Investment Income: | |||||
Dividends (net of foreign witholding tax of $0, $0 and $768, respectively) | $ 750,975 | $ — | $ 57,373 | ||
Interest | — | 1,718,273 | 1,089 | ||
Total investment income | 750,975 | 1,718,273 | 58,462 | ||
Expenses: | |||||
Investment advisory fees | 147,053 | 229,856 | 93,030 | ||
Administration fees | 22,058 | 54,728 | 9,303 | ||
Distribution fees - Class A | 531 | 3,898 | 214 | ||
Distribution fees - Class C | — | 20 | — | ||
Sub-accounting services fees - Class A | 113 | 748 | 45 | ||
Sub-accounting services fees - Class C | — | 3 | — | ||
Sub-accounting services fees - Institutional Class | 32,159 | 82,595 | 15,553 | ||
Fund accounting and sub-administration fees | 32,263 | 44,337 | 32,263 | ||
Transfer agent fees | 3,781 | 15,123 | 3,781 | ||
Custodian fees | 7,729 | 13,858 | 3,666 | ||
Registration fees | 6,124 | 29,697 | 4,266 | ||
Directors fees | 7,677 | 18,349 | 3,756 | ||
Professional fees | 12,165 | 29,402 | 5,718 | ||
Printing fees | 1,500 | 4,362 | 549 | ||
Miscellaneous fees | 13,090 | 24,904 | 10,101 | ||
Total expenses | 286,243 | 551,880 | 182,245 | ||
Fees waived/reimbursed by the Adviser | (65,132) | — | (57,990) | ||
Net expenses | 221,111 | 551,880 | 124,255 | ||
Net investment income | 529,864 | 1,166,393 | (65,793) | ||
Realized and Unrealized Gain/(Loss): | |||||
Net realized losses from investment transactions and foreign currency translation | (4,452,018) | (82,378) | (3,525,422) | ||
Change in unrealized appreciation/(depreciation) on investment transactions and foreign currency transactions | 3,063,983 | (9,466,811) | 1,205,744 | ||
Net realized and unrealized losses from investment transactions, foreign currency translations and options transactions | (1,388,035) | (9,549,189) | (2,319,678) | ||
Change in net assets resulting from operations | $ (858,171) | $ (8,382,796) | $ (2,385,471) |
Steward Values-Focused Large Cap Enhanced Index Fund | Steward Values-Focused Small-Mid Cap Enhanced Index Fund | ||
Investment Income: | |||
Dividends (net of foreign witholding tax of $491 and $8, respectively) | $ 1,795,415 | $ 1,468,644 | |
Interest | 11,925 | 11,452 | |
Total investment income | 1,807,340 | 1,480,096 | |
Expenses: | |||
Investment advisory fees | 229,074 | 186,103 | |
Administration fees | 79,910 | 64,920 | |
Distribution fees - Class A | 13,816 | 57,295 | |
Distribution fees - Class C | 41 | — | |
Sub-accounting services fees - Class A | 6,686 | 8,171 | |
Sub-accounting services fees - Class C | 2 | — | |
Sub-accounting services fees - Institutional Class | 120,955 | 76,162 | |
Fund accounting and sub-administration fees | 62,127 | 53,523 | |
Transfer agent fees | 15,123 | 15,123 | |
Custodian fees | 20,603 | 25,105 | |
Registration fees | 34,748 | 33,137 | |
Directors fees | 28,079 | 23,415 | |
Professional fees | 44,423 | 36,898 | |
Printing fees | 6,329 | 5,325 | |
Miscellaneous fees | 30,180 | 27,245 | |
Total expenses | 692,096 | 612,422 | |
Net investment income | 1,115,244 | 867,674 | |
Realized and Unrealized Gain/(Loss): | |||
Net realized gains from investment transactions and foreign currency translation | 689,807 | 2,370,610 | |
Change in unrealized depreciation on investment transactions and foreign currency transactions | (14,974,601) | (6,318,023) | |
Net realized and unrealized losses from investment transactions, foreign currency translations and options transactions | (14,284,794) | (3,947,413) | |
Change in net assets resulting from operations | $ (13,169,550) | $ (3,079,739) |
For the Six Months Ended (Unaudited) October 31, 2022 | For the Year Ended April 30, 2022 | ||
Change in net assets resulting from operations: | |||
Net investment income | $ 150,834 | $ 128,317 | |
Net realized gain from investment transactions, foreign currency transactions and option transactions | 1,370,347 | 7,133,592 | |
Net change in unrealized depreciation on investment transactions, foreign currency transactions and option transactions | (2,402,094) | (5,569,649) | |
Change in net assets resulting from operations | (880,913) | 1,692,260 | |
Distributions to shareholders from: | |||
Class A | (1,015) | (3,005) | |
Class C | (190) | (46,169) | |
Class R6 | (11) | (210) | |
Institutional Class | (129,916) | (3,185,783) | |
Total distributions to shareholders | (131,132) | (3,235,167) | |
Capital Transactions: | |||
Class A | |||
Proceeds from shares issued | 493,186 | 111,974 | |
Dividends reinvested | 1,006 | 3,005 | |
Cost of shares redeemed | (70,244) | (23,578) | |
Change in Class A from capital transactions | 423,948 | 91,401 | |
Class C | |||
Proceeds from shares issued | 155,398 | 137,055 | |
Dividends reinvested | 190 | 46,169 | |
Cost of shares redeemed | (29,149) | (131,769) | |
Change in Class C from capital transactions | 126,439 | 51,455 | |
Class R6 | |||
Proceeds from shares issued | 2,072 | 1,000 | |
Dividends reinvested | 10 | 210 | |
Cost of shares redeemed | (1) | — | |
Change in Class R6 from capital transactions | 2,081 | 1,210 | |
Institutional Class | |||
Proceeds from shares issued | 14,890,344 | 15,293,238 | |
Dividends reinvested | 129,802 | 3,179,417 | |
Cost of shares redeemed | (2,935,855) | (30,218,252) | |
Change in Institutional Class from capital transactions | 12,084,291 | (11,745,597) | |
Change in net assets from capital transactions | 12,636,759 | (11,601,531) | |
Change in net assets | 11,624,714 | (13,144,438) | |
Net Assets: | |||
Beginning of year | 23,247,776 | 36,392,214 | |
End of year | $ 34,872,490 | $ 23,247,776 | |
Shares Transactions: | |||
Class A | |||
Issued | 65,844 | 13,227 | |
Reinvested | 128 | 357 | |
Redeemed | (9,099) | (2,714) | |
Change in Class A | 56,873 | 10,870 | |
Class C | |||
Issued | 20,006 | 13,659 | |
Reinvested | 25 | 5,441 | |
Redeemed | (3,858) | (12,832) | |
Change in Class C | 16,173 | 6,268 | |
Class R6 | |||
Issued | 276 | 92 | |
Reinvested | 1 | 25 | |
Change in Class R6 | 277 | 117 | |
Institutional Class | |||
Issued | 1,913,716 | 1,762,737 | |
Reinvested | 16,519 | 371,223 | |
Redeemed | (385,199) | (2,866,461) | |
Change in Institutional Class | 1,545,036 | (732,501) |
For the Six Months Ended (Unaudited) October 31, 2022 | For the Period November 15, 2021(1) through April 30, 2022 | ||
Change in net assets resulting from operations: | |||
Net investment income (loss) | $ 18,419 | $ (179,956) | |
Net realized loss from investment transactions and foreign currency transactions | (205,391) | (540,721) | |
Net change in unrealized appreciation on investments and foreign currency transactions | 3,035,226 | 1,977,843 | |
Change in net assets resulting from operations | 2,848,254 | 1,257,166 | |
Distributions to shareholders from: | |||
Class A | — | — | |
Institutional Class | — | — | |
Total distributions to shareholders | — | — | |
Capital Transactions: | |||
Class A | |||
Proceeds from shares issued | 259,780 | 513,222 | |
Dividends reinvested | — | — | |
Cost of shares redeemed | (41,899) | (163,334) | |
Change in Class A from capital transactions | 217,881 | 349,888 | |
Institutional Class | |||
Proceeds from shares issued | 52,571,139 | 26,355,294 | |
Dividends reinvested | — | — | |
Cost of shares redeemed | (11,771,510) | (1,538,877) | |
Change in Institutional Class from capital transactions | 40,799,629 | 24,816,417 | |
Change in net assets from capital transactions | 41,017,510 | 25,166,305 | |
Change in net assets | 43,865,764 | 26,423,471 | |
Net Assets: | |||
Beginning of year | 26,423,471 | — | |
End of year | $ 70,289,235 | $ 26,423,471 | |
Shares Transactions: | |||
Class A | |||
Issued | 9,644 | 19,199 | |
Reinvested | — | — | |
Redeemed | (1,571) | (6,281) | |
Change in Class A | 8,073 | 12,918 | |
Institutional Class | |||
Issued | 1,954,920 | 1,042,669 | |
Reinvested | — | — | |
Redeemed | (438,161) | (59,075) | |
Change in Institutional Class | 1,516,759 | 983,594 |
(1) | For the period November 15, 2021 (commencement of operations) through April 30, 2022. |
For the Six Months Ended (Unaudited) October 31, 2022 | For the Year Ended April 30, 2022 | ||
Change in net assets resulting from operations: | |||
Net investment income | $ 4,974,728 | $ 5,413,141 | |
Net realized gain from investment transactions and foreign currency transactions | 5,939,050 | 41,099,633 | |
Net change in unrealized depreciation on investments and foreign currency transactions | (34,491,283) | (45,042,441) | |
Change in net assets resulting from operations | (23,577,505) | 1,470,333 | |
Distributions to shareholders from: | |||
Class A | (307,986) | (3,150,494) | |
Class C | (9,952) | (131,145) | |
Class R6 | (5,435) | (42,415) | |
Institutional Class | (4,592,734) | (40,510,185) | |
Total distributions to shareholders | (4,916,107) | (43,834,239) | |
Capital Transactions: | |||
Class A | |||
Proceeds from shares issued | 2,225,748 | 7,749,742 | |
Dividends reinvested | 289,450 | 2,913,423 | |
Cost of shares redeemed | (1,995,793) | (36,136,421) | |
Change in Class A from capital transactions | 519,405 | (25,473,256) | |
Class C | |||
Proceeds from shares issued | 180,349 | 158,085 | |
Dividends reinvested | 9,952 | 131,145 | |
Cost of shares redeemed | (141,792) | (3,293,521) | |
Change in Class C from capital transactions | 48,509 | (3,004,291) | |
Class R6 | |||
Proceeds from shares issued | 36,662 | 118,012 | |
Dividends reinvested | 5,435 | 42,415 | |
Cost of shares redeemed | (41,736) | (45,860) | |
Change in Class R6 from capital transactions | 361 | 114,567 | |
Institutional Class | |||
Proceeds from shares issued | 43,612,545 | 104,631,017 | |
Dividends reinvested | 4,498,737 | 40,331,603 | |
Cost of shares redeemed | (26,402,936) | (123,465,165) | |
Change in Institutional Class from capital transactions | 21,708,346 | 21,497,455 | |
Change in net assets from capital transactions | 22,276,621 | (6,865,525) | |
Change in net assets | (6,216,991) | (49,229,431) | |
Net Assets: | |||
Beginning of year | 295,609,215 | 344,838,646 | |
End of year | $ 289,392,224 | $ 295,609,215 | |
Shares Transactions: | |||
Class A | |||
Issued | 72,813 | 208,536 | |
Reinvested | 9,488 | 86,344 | |
Redeemed | (65,872) | (961,381) | |
Change in Class A | 16,429 | (666,501) | |
Class C | |||
Issued | 5,659 | 4,147 | |
Reinvested | 310 | 3,693 | |
Redeemed | (4,304) | (83,087) | |
Change in Class C | 1,665 | (75,247) | |
Class R6 | |||
Issued | 1,290 | 3,464 | |
Reinvested | 191 | 1,349 | |
Redeemed | (1,464) | (1,295) | |
Change in Class R6 | 17 | 3,518 | |
Institutional Class | |||
Issued | 1,452,593 | 2,858,776 | |
Reinvested | 147,272 | 1,196,827 | |
Redeemed | (859,679) | (3,349,955) | |
Change in Institutional Class | 740,186 | 705,648 |
For the Six Months Ended (Unaudited) October 31, 2022 | For the Year Ended April 30, 2022 | ||
Change in net assets resulting from operations: | |||
Net investment income | $ 3,784,643 | $ 4,634,993 | |
Net realized gain/(loss) from investment transactions and foreign currency transactions | (2,610,099) | 5,893,363 | |
Net change in unrealized depreciation on investments and foreign currency transactions | (27,722,174) | (28,658,785) | |
Change in net assets resulting from operations | (26,547,630) | (18,130,429) | |
Distributions to shareholders from: | |||
Class A | — | (275,412) | |
Class C | — | (45) | |
Class R6 | — | (32,211) | |
Institutional Class | — | (8,297,705) | |
Total distributions to shareholders | — | (8,605,373) | |
Capital Transactions: | |||
Class A | |||
Proceeds from shares issued | 676,242 | 1,377,181 | |
Dividends reinvested | — | 265,254 | |
Cost of shares redeemed | (922,858) | (4,501,594) | |
Change in Class A from capital transactions | (246,616) | (2,859,159) | |
Class C | |||
Proceeds from shares issued | — | 1,000 | |
Dividends reinvested | — | 45 | |
Change in Class C from capital transactions | — | 1,045 | |
Class R6 | |||
Proceeds from shares issued | 66,224 | 180,045 | |
Dividends reinvested | — | 32,211 | |
Cost of shares redeemed | (29,390) | (160,512) | |
Change in Class R6 from capital transactions | 36,834 | 51,744 | |
Institutional Class | |||
Proceeds from shares issued | 20,833,763 | 73,833,932 | |
Dividends reinvested | — | 8,202,279 | |
Cost of shares redeemed | (21,798,651) | (25,552,480) | |
Change in Institutional Class from capital transactions | (964,888) | 56,483,731 | |
Change in net assets from capital transactions | (1,174,670) | 53,677,361 | |
Change in net assets | (27,722,300) | 26,941,559 | |
Net Assets: | |||
Beginning of year | 207,534,676 | 180,593,117 | |
End of year | $ 179,812,376 | $ 207,534,676 | |
Shares Transactions: | |||
Class A | |||
Issued | 31,633 | 55,918 | |
Reinvested | — | 11,204 | |
Redeemed | (44,800) | (183,225) | |
Change in Class A | (13,167) | (116,103) | |
Class C | |||
Issued | — | 47 | |
Reinvested | — | 2 | |
Change in Class C | — | 49 | |
Class R6 | |||
Issued | 3,853 | 8,553 | |
Reinvested | — | 1,635 | |
Redeemed | (1,691) | (7,515) | |
Change in Class R6 | 2,162 | 2,673 | |
Institutional Class | |||
Issued | 1,005,570 | 2,984,321 | |
Reinvested | — | 348,082 | |
Redeemed | (1,074,400) | (1,037,869) | |
Change in Institutional Class | (68,830) | 2,294,534 |
For the Six Months Ended (Unaudited) October 31, 2022 | For the Period November 15, 2021(1) through April 30, 2022 | ||
Change in net assets resulting from operations: | |||
Net investment income | $ 366,876 | $ 204,228 | |
Net realized loss from investment transactions and foreign currency transactions | (5,556,155) | (1,943,247) | |
Net change in unrealized appreciation/(depreciation) on investments and foreign currency transactions | 2,485,807 | (7,934,392) | |
Change in net assets resulting from operations | (2,703,472) | (9,673,411) | |
Distributions to shareholders from: | |||
Class A | — | (1) | |
Institutional Class | — | (60,583) | |
Total distributions to shareholders | — | (60,584) | |
Capital Transactions: | |||
Class A | |||
Proceeds from shares issued | 170,015 | 2,338,319 | |
Dividends reinvested | — | 1 | |
Cost of shares redeemed | (15,187) | (1,939,631) | |
Change in Class A from capital transactions | 154,828 | 398,689 | |
Institutional Class | |||
Proceeds from shares issued | 8,152,544 | 83,086,361 | |
Dividends reinvested | — | 60,583 | |
Cost of shares redeemed | (5,387,386) | (4,011,353) | |
Change in Institutional Class from capital transactions | 2,765,158 | 79,135,591 | |
Change in net assets from capital transactions | 2,919,986 | 79,534,280 | |
Change in net assets | 216,514 | 69,800,285 | |
Net Assets: | |||
Beginning of year | 69,800,285 | — | |
End of year | $ 70,016,799 | $ 69,800,285 | |
Shares Transactions: | |||
Class A | |||
Issued | 8,313 | 104,568 | |
Reinvested | — | — | |
Redeemed | (742) | (90,044) | |
Change in Class A | 7,571 | 14,524 | |
Institutional Class | |||
Issued | 399,458 | 3,388,850 | |
Reinvested | — | 2,477 | |
Redeemed | (257,034) | (168,003) | |
Change in Institutional Class | 142,424 | 3,223,324 |
(1) | For the period November 15, 2021 (commencement of operations) through April 30, 2022. |
For the Six Months Ended (Unaudited) October 31, 2022 | For the Period November 15, 2021(1) through April 30, 2022 | ||
Change in net assets resulting from operations: | |||
Net investment income | $ 130,707 | $ 29,475 | |
Net realized loss from investment transactions and foreign currency transactions | (2,944,147) | (1,950,529) | |
Net change in unrealized appreciation/(depreciation) on investments and foreign currency transactions | 246,488 | (5,995,175) | |
Change in net assets resulting from operations | (2,566,952) | (7,916,229) | |
Distributions to shareholders from: | |||
Class A | — | — | |
Institutional Class | — | (20,782) | |
Total distributions to shareholders | — | (20,782) | |
Capital Transactions: | |||
Class A | |||
Proceeds from shares issued | 114,680 | 205,150 | |
Dividends reinvested | — | — | |
Cost of shares redeemed | (9,350) | (717) | |
Change in Class A from capital transactions | 105,330 | 204,433 | |
Institutional Class | |||
Proceeds from shares issued | 19,480,554 | 53,399,897 | |
Dividends reinvested | — | 20,782 | |
Cost of shares redeemed | (5,059,868) | (2,709,799) | |
Change in Institutional Class from capital transactions | 14,420,686 | 50,710,880 | |
Change in net assets from capital transactions | 14,526,016 | 50,915,313 | |
Change in net assets | 11,959,064 | 42,978,302 | |
Net Assets: | |||
Beginning of year | 42,978,302 | — | |
End of year | $ 54,937,366 | $ 42,978,302 | |
Shares Transactions: | |||
Class A | |||
Issued | 5,844 | 9,196 | |
Reinvested | — | — | |
Redeemed | (484) | (30) | |
Change in Class A | 5,360 | 9,166 | |
Institutional Class | |||
Issued | 1,022,272 | 2,186,054 | |
Reinvested | — | 856 | |
Redeemed | (248,342) | (117,329) | |
Change in Institutional Class | 773,930 | 2,069,581 |
(1) | For the period November 15, 2021 (commencement of operations) through April 30, 2022. |
For the Six Months Ended (Unaudited) October 31, 2022 | For the Period November 15, 2021(1) through April 30, 2022 | ||
Change in net assets resulting from operations: | |||
Net investment income | $ 529,864 | $ 397,320 | |
Net realized loss from investment transactions and foreign currency transactions | (4,452,018) | (1,110,138) | |
Net change in unrealized appreciation/(depreciation) on investments and foreign currency transactions | 3,063,983 | (4,197,626) | |
Change in net assets resulting from operations | (858,171) | (4,910,444) | |
Distributions to shareholders from: | |||
Class A | — | (2) | |
Institutional Class | — | (105,357) | |
Total distributions to shareholders | — | (105,359) | |
Capital Transactions: | |||
Class A | |||
Proceeds from shares issued | 193,039 | 348,652 | |
Dividends reinvested | — | 2 | |
Cost of shares redeemed | (9,362) | (800) | |
Change in Class A from capital transactions | 183,677 | 347,854 | |
Institutional Class | |||
Proceeds from shares issued | 5,977,581 | 69,037,284 | |
Dividends reinvested | — | 105,357 | |
Cost of shares redeemed | (5,689,653) | (3,832,240) | |
Change in Institutional Class from capital transactions | 287,928 | 65,310,401 | |
Change in net assets from capital transactions | 471,605 | 65,658,255 | |
Change in net assets | (386,566) | 60,642,452 | |
Net Assets: | |||
Beginning of year | 60,642,452 | — | |
End of year | $ 60,255,886 | $ 60,642,452 | |
Shares Transactions: | |||
Class A | |||
Issued | 8,735 | 14,371 | |
Reinvested | — | — | |
Redeemed | (441) | (33) | |
Change in Class A | 8,294 | 14,338 | |
Institutional Class | |||
Issued | 274,092 | 2,783,170 | |
Reinvested | — | 4,274 | |
Redeemed | (256,695) | (155,438) | |
Change in Institutional Class | 17,397 | 2,632,006 |
(1) | For the period November 15, 2021 (commencement of operations) through April 30, 2022. |
For the Six Months Ended (Unaudited) October 31, 2022 | For the Year Ended April 30, 2022 | ||
Change in net assets resulting from operations: | |||
Net investment income | $ 1,166,393 | $ 2,338,350 | |
Net realized gain/(loss) from investment transactions and foreign currency transactions | (82,378) | 261,429 | |
Net change in unrealized depreciation on investments and foreign currency transactions | (9,466,811) | (17,076,687) | |
Change in net assets resulting from operations | (8,382,796) | (14,476,908) | |
Distributions to shareholders from: | |||
Class A | (21,686) | (67,530) | |
Class C | (12) | (11) | |
Class R6 | (7) | (7) | |
Institutional Class | (1,130,781) | (2,326,303) | |
Total distributions to shareholders | (1,152,486) | (2,393,851) | |
Capital Transactions: | |||
Class A | |||
Proceeds from shares issued | 182,842 | 1,470,544 | |
Dividends reinvested | 21,215 | 67,148 | |
Cost of shares redeemed | (1,079,141) | (3,163,624) | |
Change in Class A from capital transactions | (875,084) | (1,625,932) | |
Class C | |||
Proceeds from shares issued | — | 5 | |
Dividends reinvested | 12 | 11 | |
Cost of shares redeemed | (5) | — | |
Change in Class C from capital transactions | 7 | 16 | |
Class R6 | |||
Proceeds from shares issued | — | 1,000 | |
Dividends reinvested | 7 | 7 | |
Change in Class R6 from capital transactions | 7 | 1,007 | |
Institutional Class | |||
Proceeds from shares issued | 11,127,628 | 23,815,641 | |
Dividends reinvested | 1,125,344 | 2,324,421 | |
Cost of shares redeemed | (15,967,412) | (44,198,562) | |
Change in Institutional Class from capital transactions | (3,714,440) | (18,058,500) | |
Change in net assets from capital transactions | (4,589,510) | (19,683,409) | |
Change in net assets | (14,124,792) | (36,554,168) | |
Net Assets: | |||
Beginning of year | 150,718,512 | 187,272,680 | |
End of year | $ 136,593,720 | $ 150,718,512 | |
Shares Transactions: | |||
Class A | |||
Issued | 8,151 | 59,650 | |
Reinvested | 962 | 2,707 | |
Redeemed | (48,255) | (131,814) | |
Change in Class A | (39,142) | (69,457) | |
Class C | |||
Reinvested | — | 1 | |
Change in Class C | — | 1 | |
Class R6 | |||
Issued | — | 36 | |
Reinvested | — | — | |
Change in Class R6 | — | 36 | |
Institutional Class | |||
Issued | 503,468 | 971,016 | |
Reinvested | 51,313 | 94,285 | |
Redeemed | (725,958) | (1,804,027) | |
Change in Institutional Class | (171,177) | (738,726) |
For the Six Months Ended (Unaudited) October 31, 2022 | For the Period November 15, 2021(1) through April 30, 2022 | ||
Change in net assets resulting from operations: | |||
Net investment loss | $ (65,793) | $ (49,635) | |
Net realized loss from investment transactions and foreign currency transactions | (3,525,422) | (305,173) | |
Net change in unrealized appreciation/(depreciation) on investments and foreign currency transactions | 1,205,744 | (8,554,114) | |
Change in net assets resulting from operations | (2,385,471) | (8,908,922) | |
Distributions to shareholders from: | |||
Class A | — | — | |
Institutional Class | — | (10,843) | |
Total distributions to shareholders | — | (10,843) | |
Capital Transactions: | |||
Class A | |||
Proceeds from shares issued | 68,705 | 181,467 | |
Dividends reinvested | — | — | |
Cost of shares redeemed | (42,493) | (726) | |
Change in Class A from capital transactions | 26,212 | 180,741 | |
Institutional Class | |||
Proceeds from shares issued | 2,785,984 | 42,030,129 | |
Dividends reinvested | — | 10,843 | |
Cost of shares redeemed | (8,395,262) | (1,980,974) | |
Change in Institutional Class from capital transactions | (5,609,278) | 40,059,998 | |
Change in net assets from capital transactions | (5,583,066) | 40,240,739 | |
Change in net assets | (7,968,537) | 31,320,974 | |
Net Assets: | |||
Beginning of year | 31,320,974 | — | |
End of year | $ 23,352,437 | $ 31,320,974 | |
Shares Transactions: | |||
Class A | |||
Issued | 3,912 | 8,900 | |
Reinvested | — | — | |
Redeemed | (2,494) | (33) | |
Change in Class A | 1,418 | 8,867 | |
Institutional Class | |||
Issued | 161,429 | 1,749,903 | |
Reinvested | — | 476 | |
Redeemed | (468,023) | (93,355) | |
Change in Institutional Class | (306,594) | 1,657,024 |
(1) | For the period November 15, 2021 (commencement of operations) through April 30, 2022. |
For the Six Months Ended (Unaudited) October 31, 2022 | For the Year Ended April 30, 2022 | ||
Change in net assets resulting from operations: | |||
Net investment income | $ 1,115,244 | $ 2,117,879 | |
Net realized gain from investment transactions and foreign currency transactions | 689,807 | 127,032,512 | |
Net change in unrealized depreciation on investments and foreign currency transactions | (14,974,601) | (101,563,727) | |
Change in net assets resulting from operations | (13,169,550) | 27,586,664 | |
Distributions to shareholders from: | |||
Class A | — | (4,284,340) | |
Class C | — | (943) | |
Class R6 | — | (154,723) | |
Institutional Class | — | (67,506,360) | |
Total distributions to shareholders | — | (71,946,366) | |
Capital Transactions: | |||
Class A | |||
Proceeds from shares issued | 1,600,683 | 3,057,252 | |
Dividends reinvested | — | 3,685,445 | |
Cost of shares redeemed | (2,492,520) | (21,111,872) | |
Change in Class A from capital transactions | (891,837) | (14,369,175) | |
Class C | |||
Proceeds from shares issued | 25,000 | 3,004 | |
Dividends reinvested | — | 943 | |
Change in Class C from capital transactions | 25,000 | 3,947 | |
Class R6 | |||
Proceeds from shares issued | 56,797 | 147,650 | |
Dividends reinvested | — | 154,723 | |
Cost of shares redeemed | (32,425) | (145,495) | |
Change in Class R6 from capital transactions | 24,372 | 156,878 | |
Institutional Class | |||
Proceeds from shares issued | 21,822,373 | 65,264,595 | |
Dividends reinvested | — | 66,592,675 | |
Cost of shares redeemed | (20,609,805) | (252,342,695) | |
Change in Institutional Class from capital transactions | 1,212,568 | (120,485,425) | |
Change in net assets from capital transactions | 370,103 | (134,693,775) | |
Change in net assets | (12,799,447) | (179,053,477) | |
Net Assets: | |||
Beginning of year | 218,918,061 | 397,971,538 | |
End of year | $ 206,118,614 | $ 218,918,061 | |
Shares Transactions: | |||
Class A | |||
Issued | 41,601 | 59,464 | |
Reinvested | — | 81,343 | |
Redeemed | (65,429) | (393,608) | |
Change in Class A | (23,828) | (252,801) | |
Class C | |||
Issued | 789 | 62 | |
Reinvested | — | 24 | |
Change in Class C | 789 | 86 | |
Class R6 | |||
Issued | 1,707 | 3,330 | |
Reinvested | — | 3,926 | |
Redeemed | (972) | (3,050) | |
Change in Class R6 | 735 | 4,206 | |
Institutional Class | |||
Issued | 571,664 | 1,273,509 | |
Reinvested | — | 1,476,625 | |
Redeemed | (535,776) | (4,567,634) | |
Change in Institutional Class | 35,888 | (1,817,500) |
For the Six Months Ended (Unaudited) October 31, 2022 | For the Year Ended April 30, 2022 | ||
Change in net assets resulting from operations: | |||
Net investment income | $ 867,674 | $ 1,281,069 | |
Net realized gain from investment transactions and foreign currency transactions | 2,370,610 | 57,304,128 | |
Net change in unrealized depreciation on investments and foreign currency transactions | (6,318,023) | (66,681,904) | |
Change in net assets resulting from operations | (3,079,739) | (8,096,707) | |
Distributions to shareholders from: | |||
Class A | — | (7,138,148) | |
Class C | — | (133) | |
Class R6 | — | (14,790) | |
Institutional Class | — | (20,181,854) | |
Total distributions to shareholders | — | (27,334,925) | |
Capital Transactions: | |||
Class A | |||
Proceeds from shares issued | 1,131,990 | 3,207,439 | |
Dividends reinvested | — | 6,477,306 | |
Cost of shares redeemed | (2,104,315) | (16,814,731) | |
Change in Class A from capital transactions | (972,325) | (7,129,986) | |
Class C | |||
Proceeds from shares issued | 2,806 | 1,000 | |
Dividends reinvested | — | 133 | |
Change in Class C from capital transactions | 2,806 | 1,133 | |
Class R6 | |||
Proceeds from shares issued | 54,324 | 348,495 | |
Dividends reinvested | — | 14,790 | |
Cost of shares redeemed | (90,323) | (42,528) | |
Change in Class R6 from capital transactions | (35,999) | 320,757 | |
Institutional Class | |||
Proceeds from shares issued | 18,870,800 | 44,680,673 | |
Dividends reinvested | — | 17,411,342 | |
Cost of shares redeemed | (26,485,151) | (106,707,033) | |
Change in Institutional Class from capital transactions | (7,614,351) | (44,615,018) | |
Change in net assets from capital transactions | (8,619,869) | (51,423,114) | |
Change in net assets | (11,699,608) | (86,854,746) | |
Net Assets: | |||
Beginning of year | 186,772,523 | 273,627,269 | |
End of year | $ 175,072,915 | $ 186,772,523 | |
Shares Transactions: | |||
Class A | |||
Issued | 86,607 | 180,929 | |
Reinvested | — | 413,377 | |
Redeemed | (158,777) | (982,455) | |
Change in Class A | (72,170) | (388,149) | |
Class C | |||
Issued | 246 | 58 | |
Reinvested | — | 9 | |
Change in Class C | 246 | 67 | |
Class R6 | |||
Issued | 4,129 | 24,196 | |
Reinvested | — | 1,021 | |
Redeemed | (7,206) | (2,593) | |
Change in Class R6 | (3,077) | 22,624 | |
Institutional Class | |||
Issued | 1,343,997 | 2,586,807 | |
Reinvested | — | 1,085,860 | |
Redeemed | (1,803,130) | (5,877,857) | |
Change in Institutional Class | (459,133) | (2,205,190) |
Investment Operations: | ||||
Net Asset Value, Beginning of Period | Net Investment Income/(Loss) | Net Realized and Unrealized Gain/(Loss) from Investments | Total from Investment Operations | |
Steward Covered Call Income Fund | ||||
Class A | ||||
Six months ended October 31, 2022 (Unaudited) | $ 7.79 | $ 0.02(d)(e) | $(0.24) | $(0.22) |
Year ended April 30, 2022 | 9.88 | 0.02 (d) | 0.14 | 0.16 |
Year ended April 30, 2021 | 8.64 | 0.05 (d) | 2.59 | 2.64 |
Year ended April 30, 2020 | 9.77 | 0.08 (d) | (0.54) | (0.46) |
Year ended April 30, 2019 | 9.92 | 0.04 | 0.71 | 0.75 |
Period ended April 30, 2018(g) | 10.00 | 0.03 | (0.09) | (0.06) |
Class C | ||||
Six months ended October 31, 2022 (Unaudited) | $ 7.77 | $ —(d)(e)(h) | $(0.25) | $(0.25) |
Year ended April 30, 2022 | 9.91 | (0.05) (d) | 0.12 | 0.07 |
Year ended April 30, 2021 | 8.70 | (0.02) (d)(e) | 2.60 | 2.58 |
Year ended April 30, 2020 | 9.84 | 0.00 (d) | (0.53) | (0.53) |
Year ended April 30, 2019 | 9.95 | 0.01 | 0.71 | 0.72 |
Period ended April 30, 2018(g) | 10.00 | — (h) | (0.05) | (0.05) |
Class R6 | ||||
Six months ended October 31, 2022 (Unaudited) | $ 7.85 | $ 0.04(d)(e) | $(0.24) | $(0.20) |
Year ended April 30, 2022 | 9.89 | 0.04 (d) | 0.16 | 0.20 |
Year ended April 30, 2021 | 8.64 | 0.00 (d) | 2.65 | 2.65 |
Year ended April 30, 2020 | 9.80 | — (d)(h) | (0.49) | (0.49) |
Year ended April 30, 2019 | 9.92 | — (h) | 0.69 | 0.69 |
Period ended April 30, 2018(g) | 10.00 | — (h) | (0.05) | (0.05) |
Institutional Class | ||||
Six months ended October 31, 2022 (Unaudited) | $ 7.87 | $ 0.04(d)(e) | $(0.25) | $(0.21) |
Year ended April 30, 2022 | 9.92 | 0.05 (d) | 0.12 | 0.17 |
Year ended April 30, 2021 | 8.65 | 0.07 (d) | 2.61 | 2.68 |
Year ended April 30, 2020 | 9.75 | 0.10 (d) | (0.53) | (0.43) |
Year ended April 30, 2019 | 9.92 | 0.11 | 0.65 | 0.76 |
Period ended April 30, 2018(g) | 10.00 | 0.03 | (0.08) | (0.05) |
Steward Equity Market Neutral Fund | ||||
Class A | ||||
Six months ended October 31, 2022 (Unaudited) | $26.47 | $(0.02) | $ 1.34 | $ 1.32 |
Period ended April 30, 2022(j) | 25.00 | (0.14) | 1.61 | 1.47 |
Institutional Class | ||||
Six months ended October 31, 2022 (Unaudited) | $26.52 | $ 0.01 | $ 1.35 | $ 1.36 |
Period ended April 30, 2022(j) | 25.00 | (0.18) | 1.70 | 1.52 |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Fund, as a whole, without distinguishing between the classes of shares issued. |
(d) | Calculated based on average shares outstanding. |
(e) | Realized and unrealized gains and losses per share in this caption are balancing amounts necessary to reconcile the change in net asset value per share for the period, and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the period. |
(f) | During the year, additional fees were voluntary waived or reimbursed. Had these fees not been waived or reimbursed, the net expense ratio for each class would have been 0.34% higher. |
(g) | For the period December 14, 2017 (commencement of operations) through April 30, 2018. |
(h) | Expressed as ‘‘—’’ as the income and/or expenses accrued for the class were considered immaterial for presentation purposes relative to the size of the class. |
(i) | The ratio for the Equity Market Neutral Fund includes the effect of dividend expense on securities sold short and brokerage expense on securities sold short, which increased the ratio by 0.75% and 0.69% for Class A and Institutional Class, respectively, for the six months ended October 31, 2022, and 1.56% and 1.39% for Class A and Institutional Class, respectively, for the period ended April 30, 2022. |
(j) | For the period November 15, 2021 (commencement of operations) through April 30, 2022. |
Distributions: | Supplemental data and ratios: | ||||||||
Net Investment Income | Capital Gains | Total Distributions | Net Asset Value, End of Period | Total Return(a) | Net Assets, End of Period (000's) | Ratio of Expenses to Average Net Assets Prior to Waivers (b) | Ratio of Expenses to Average Net Assets Net of Waivers(b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) |
$(0.02) | $ — | $(0.02) | $ 7.55 | (2.80)% | $ 519 | 1.81% | 1.25% | 0.62% | 29% |
(0.08) | (2.17) | (2.25) | 7.79 | (0.18) | 93 | 2.37 | 1.25 | 0.21 | 130 |
(0.07) | (1.33) | (1.40) | 9.88 | 32.27 | 11 | 2.42 | 1.25 (f) | 0.51 | 156 |
(0.10) | (0.57) | (0.67) | 8.64 | (5.45) | 9 | 1.65 | 1.25 | 0.85 | 135 |
(0.09) | (0.81) | (0.90) | 9.77 | 8.91 | 31 | 1.44 | 1.25 | 0.79 | 117 |
(0.02) | — | (0.02) | 9.92 | (0.56) | 3 | 1.42 | 1.25 | 0.81 | 29 |
$ — | $ — | $ — | $ 7.52 | (3.29)% | $ 317 | 2.58% | 2.00% | (0.09)% | 29% |
(0.04) | (2.17) | (2.21) | 7.77 | (0.96) | 202 | 2.82 | 2.00 | (0.55) | 130 |
(0.04) | (1.33) | (1.37) | 9.91 | 31.33 | 195 | 2.96 | 2.00 (f) | (0.18) | 156 |
(0.04) | (0.57) | (0.61) | 8.70 | (6.10) | 301 | 2.48 | 2.00 | 0.02 | 135 |
(0.02) | (0.81) | (0.83) | 9.84 | 8.52 | 79 | 2.23 | 2.00 | 0.05 | 117 |
— | — | — | 9.95 | (0.50) | — | — (h) | — (h) | — (h) | 29 |
$(0.04) | $ — | $(0.04) | $ 7.61 | (2.61)% | $ 3 | 1.51% | 0.90% | 0.94% | 29% |
(0.07) | (2.17) | (2.24) | 7.85 | 0.31 | 1 | 2.11 | 0.90 | 0.44 | 130 |
(0.07) | (1.33) | (1.40) | 9.89 | 32.48 | — | — (h) | — (h) | — (h) | 156 |
(0.10) | (0.57) | (0.67) | 8.64 | (5.81) | — | — (h) | — (h) | — (h) | 135 |
— | (0.81) | (0.81) | 9.80 | 8.27 | — | — (h) | — (h) | — (h) | 117 |
(0.03) | — | (0.03) | 9.92 | (0.55) | — | — (h) | — (h) | — (h) | 29 |
$(0.03) | $ — | $(0.03) | $ 7.63 | (2.67)% | $34,033 | 1.56% | 1.00% | 0.91% | 29% |
(0.05) | (2.17) | (2.22) | 7.87 | (0.04) | 22,952 | 1.61 | 1.00 | 0.46 | 130 |
(0.08) | (1.33) | (1.41) | 9.92 | 32.73 | 36,186 | 2.00 | 1.00 (f) | 0.75 | 156 |
(0.10) | (0.57) | (0.67) | 8.65 | (5.15) | 27,340 | 1.32 | 1.00 | 1.08 | 135 |
(0.12) | (0.81) | (0.93) | 9.75 | 9.06 | 28,806 | 1.14 | 1.00 | 1.10 | 117 |
(0.03) | — | (0.03) | 9.92 | (0.54) | 25,417 | 1.16 | 1.00 | 0.84 | 29 |
$ — | $ — | $ — | $27.79 | 4.99% | $ 583 | 2.50 (i)% | 2.50 (i)% | (0.28)% | 87% |
— | — | — | 26.47 | 5.88 | 342 | 3.81 (i) | 3.81 (i) | (2.26) | 111 |
$ — | $ — | $ — | $27.88 | 5.13% | $69,706 | 2.16 (i)% | 2.16 (i)% | 0.10% | 87% |
— | — | — | 26.52 | 6.08 | 26,082 | 3.11 (i) | 3.11 (i) | (1.65) | 111 |
Investment Operations: | ||||
Net Asset Value, Beginning of Period | Net Investment Income/(Loss) | Net Realized and Unrealized Gain/(Loss) from Investments | Total from Investment Operations | |
Steward Global Equity Income Fund | ||||
Class A | ||||
Six months ended October 31, 2022 (Unaudited) | $ 32.19 | $0.48 (d) | $ (3.07) | $ (2.59) |
Year ended April 30, 2022 | 37.39 | 0.50 (d) | (0.39) | 0.11 |
Year ended April 30, 2021 | 26.39 | 0.53 (d) | 11.40 | 11.93 |
Year ended April 30, 2020 | 31.36 | 0.59 (d) | (3.16) | (2.57) |
Year ended April 30, 2019 | 33.06 | 0.70 (d) | 0.43 | 1.13 |
Year ended April 30, 2018 | 31.00 | 0.60 | 3.87 | 4.47 |
Class C | ||||
Six months ended October 31, 2022 (Unaudited) | $ 33.94 | $0.49 (d) | $ (3.39) | $ (2.90) |
Year ended April 30, 2022 | 39.17 | 0.23 (d) | (0.38) | (0.15) |
Year ended April 30, 2021 | 27.65 | 0.32 (d) | 11.92 | 12.24 |
Year ended April 30, 2020(e) | 53.40 | 0.31 (d) | (23.63) | (23.32) |
Year ended April 30, 2019(e) | 80.20 | 0.70 (d) | (0.90) (f) | (0.20) |
Period ended April 30, 2018(e)(g) | 100.00 | — (h) | 0.70 | 0.70 |
Class R6 | ||||
Six months ended October 31, 2022 (Unaudited) | $ 30.09 | $0.53 (d) | $ (2.89) | $ (2.36) |
Year ended April 30, 2022 | 35.30 | 0.61 (d) | (0.36) | 0.25 |
Year ended April 30, 2021 | 25.00 | 0.62 (d) | 10.79 | 11.41 |
Year ended April 30, 2020(e) | 50.50 | 0.59 (d) | (23.57) | (22.98) |
Year ended April 30, 2019(e) | 79.90 | 2.10 (d) | (2.10) (f) | — |
Period ended April 30, 2018(e)(g) | 100.00 | — (h) | 0.80 | 0.80 |
Institutional Class | ||||
Six months ended October 31, 2022 (Unaudited) | $ 32.23 | $0.53 (d) | $ (3.09) | $ (2.56) |
Year ended April 30, 2022 | 37.46 | 0.60 (d) | (0.40) | 0.20 |
Year ended April 30, 2021 | 26.48 | 0.62 (d) | 11.45 | 12.07 |
Year ended April 30, 2020 | 31.45 | 0.68 (d) | (3.16) | (2.48) |
Year ended April 30, 2019 | 33.15 | 0.79 (d) | 0.44 | 1.23 |
Year ended April 30, 2018 | 31.06 | 0.71 | 3.88 | 4.59 |
Steward International Enhanced Index Fund | ||||
Class A | ||||
Six months ended October 31, 2022 (Unaudited) | $ 21.97 | $0.38 (d) | $ (3.17) | $ (2.79) |
Year ended April 30, 2022 | 24.85 | 0.52 (d) | (2.41) | (1.89) |
Year ended April 30, 2021 | 17.59 | 0.37 (d) | 7.65 | 8.02 |
Year ended April 30, 2020 | 22.01 | 0.46 (d) | (4.40) | (3.94) |
Year ended April 30, 2019 | 23.01 | 0.53 | (1.01) | (0.48) |
Year ended April 30, 2018 | 20.45 | 0.43 | 2.59 | 3.02 |
Class C | ||||
Six months ended October 31, 2022 (Unaudited) | $ 17.92 | $0.31 (d) | $ (2.58) | $ (2.27) |
Year ended April 30, 2022 | 20.65 | 0.46 (d) | (2.14) | (1.68) |
Year ended April 30, 2021 | 14.90 | — (d)(h) | 6.48 | 6.48 |
Year ended April 30, 2020(e) | 19.46 | — (d)(h) | (4.12) | (4.12) |
Year ended April 30, 2019(e) | 20.16 | — (h) | (0.70) | (0.70) |
Period ended April 30, 2018(e)(g) | 20.00 | — (h) | 0.46 | 0.46 |
Class R6 | ||||
Six months ended October 31, 2022 (Unaudited) | $ 18.33 | $0.34 (d) | $ (2.64) | $ (2.30) |
Year ended April 30, 2022 | 20.91 | 0.51 (d) | (2.02) | (1.51) |
Year ended April 30, 2021 | 14.95 | 0.36 (d) | 6.50 | 6.86 |
Year ended April 30, 2020(e) | 19.42 | 0.37 (d) | (4.28) | (3.91) |
Year ended April 30, 2019(e) | 20.10 | — (h) | (0.68) | (0.68) |
Period ended April 30, 2018(e)(g) | 20.00 | — (h) | 0.46 | 0.46 |
Institutional Class | ||||
Six months ended October 31, 2022 (Unaudited) | $ 21.98 | $0.40 (d) | $ (3.17) | $ (2.77) |
Year ended April 30, 2022 | 24.87 | 0.58 (d) | (2.42) | (1.84) |
Year ended April 30, 2021 | 17.66 | 0.40 (d) | 7.70 | 8.10 |
Year ended April 30, 2020 | 22.08 | 0.53 (d) | (4.40) | (3.87) |
Year ended April 30, 2019 | 23.09 | 0.59 | (1.01) | (0.42) |
Year ended April 30, 2018 | 20.51 | 0.51 | 2.59 | 3.10 |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Fund, as a whole, without distinguishing between the classes of shares issued. |
(d) | Calculated based on average shares outstanding. |
(e) | Effective March 9, 2020, the share class had a one-for-two reverse stock split. Share amounts for the periods have been adjusted to give effect to the one-for-two stock split. |
(f) | Realized and unrealized gains and losses per share in this caption are balancing amounts necessary to reconcile the change in net asset value per share for the period, and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the period. |
(g) | For the period December 14, 2017 (commencement of operations) through April 30, 2018. |
(h) | Expressed as ‘‘—’’ as the income and/or expenses accrued for the class were considered immaterial for presentation purposes relative to the size of the class. |
Distributions: | Supplemental data and ratios: | ||||||||
Net Investment Income | Capital Gains | Total Distributions | Net Asset Value, End of Period | Total Return(a) | Net Assets, End of Period (000's) | Ratio of Expenses to Average Net Assets (b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) | |
$(0.50) | $ — | $ (0.50) | $29.10 | (8.13)% | $ 17,942 | 1.25% | 3.26% | 36% | |
(0.56) | (4.75) | (5.31) | 32.19 | (0.20) | 19,325 | 1.23 | 1.36 | 73 | |
(0.48) | (0.45) | (0.93) | 37.39 | 45.81 | 47,363 | 1.26 | 1.71 | 67 | |
(0.58) | (1.82) | (2.40) | 26.39 | (9.41) | 52,326 | 1.21 | 1.91 | 48 | |
(0.67) | (2.16) | (2.83) | 31.36 | 4.61 | 72,351 | 0.97 | 2.18 | 28 | |
(0.59) | (1.82) | (2.41) | 33.06 | 14.58 | 67,213 | 0.99 | 1.80 | 59 | |
$(0.41) | $ — | $ (0.41) | $30.63 | (8.60)% | $ 784 | 2.04% | 2.46% | 36% | |
(0.33) | (4.75) | (5.08) | 33.94 | (0.88) | 812 | 1.96 | 0.59 | 73 | |
(0.27) | (0.45) | (0.72) | 39.17 | 44.75 | 3,885 | 1.98 | 0.95 | 67 | |
(0.61) | (1.82) | (2.43) | 27.65 | (10.12) | 2,389 | 2.08 | 0.95 | 48 | |
(5.00) | (21.60) | (26.60) | 53.40 | 4.52 | 372 | 1.64 | 1.24 | 28 | |
(2.30) | (18.20) | (20.50) | 80.20 | 0.83 | — | — (h) | — (h) | 59 | |
$(0.54) | $ — | $ (0.54) | $27.19 | (7.92)% | $ 280 | 0.91% | 3.61% | 36% | |
(0.71) | (4.75) | (5.46) | 30.09 | 0.15 | 309 | 0.90 | 1.79 | 73 | |
(0.66) | (0.45) | (1.11) | 35.30 | 46.35 | 239 | 0.87 | 2.03 | 67 | |
(0.70) | (1.82) | (2.52) | 25.00 | (9.09) | 121 | 0.90 | 1.72 | 48 | |
(7.80) | (21.60) | (29.40) | 50.50 | 5.04 | 6 | 0.61 | 2.75 | 28 | |
(2.70) | (18.20) | (20.90) | 79.90 | 0.86 | — | — (h) | — (h) | 59 | |
$(0.53) | $ — | $ (0.53) | $29.14 | (8.02)% | $270,386 | 1.03% | 3.47% | 36% | |
(0.68) | (4.75) | (5.43) | 32.23 | 0.02 | 275,163 | 0.99 | 1.65 | 73 | |
(0.64) | (0.45) | (1.09) | 37.46 | 46.24 | 293,352 | 0.98 | 1.95 | 67 | |
(0.67) | (1.82) | (2.49) | 26.48 | (9.09) | 214,917 | 0.88 | 2.22 | 48 | |
(0.77) | (2.16) | (2.93) | 31.45 | 4.90 | 243,030 | 0.67 | 2.47 | 28 | |
(0.68) | (1.82) | (2.50) | 33.15 | 14.96 | 220,152 | 0.68 | 2.12 | 59 | |
$ — | $ — | $ — | $19.18 | (12.70)% | $ 4,251 | 0.97% | 3.66% | 9% | |
(0.38) | (0.61) | (0.99) | 21.97 | (7.86) | 5,159 | 0.99 | 2.08 | 14 | |
(0.25) | (0.51) | (0.76) | 24.85 | 46.20 | 8,721 | 1.00 | 1.81 | 14 | |
(0.48) | — | (0.48) | 17.59 | (18.18) | 28,007 | 1.06 | 2.20 | 15 | |
(0.52) | — | (0.52) | 22.01 | (1.99) | 29,734 | 1.01 | 2.43 | 10 | |
(0.46) | — | (0.46) | 23.01 | 14.92 | 27,085 | 1.02 | 1.88 | 10 | |
$ — | $ — | $ — | $15.65 | (12.72)% | $ 1 | 0.91% | 3.67% | 9% | |
(0.44) | (0.61) | (1.05) | 17.92 | (8.42) | 1 | 0.55 | 2.37 | 14 | |
(0.22) | (0.51) | (0.73) | 20.65 | 44.09 | — | — (h) | — (h) | 14 | |
(0.44) | — | (0.44) | 14.90 | (19.85) | — | — (h) | — (h) | 15 | |
— | — | — | 19.46 | (3.47) | — | — (h) | — (h) | 10 | |
(0.30) | — | (0.30) | 20.16 | 2.32 | — | — (h) | — (h) | 10 | |
$ — | $ — | $ — | $16.03 | (12.55)% | $ 564 | 0.67% | 3.91% | 9% | |
(0.46) | (0.61) | (1.07) | 18.33 | (7.57) | 606 | 0.66 | 2.45 | 14 | |
(0.39) | (0.51) | (0.90) | 20.91 | 46.71 | 635 | 0.64 | 1.98 | 14 | |
(0.56) | — | (0.56) | 14.95 | (18.52) | 475 | 0.68 | 2.14 | 15 | |
— | — | — | 19.42 | (3.38) | — | — (h) | — (h) | 10 | |
(0.36) | — | (0.36) | 20.10 | 2.32 | — | — (h) | — (h) | 10 | |
$ — | $ — | $ — | $19.21 | (12.60)% | $174,996 | 0.78% | 3.81% | 9% | |
(0.44) | (0.61) | (1.05) | 21.98 | (7.67) | 201,769 | 0.76 | 2.35 | 14 | |
(0.38) | (0.51) | (0.89) | 24.87 | 46.56 | 171,237 | 0.76 | 1.86 | 14 | |
(0.55) | — | (0.55) | 17.66 | (17.87) | 98,451 | 0.72 | 2.55 | 15 | |
(0.59) | — | (0.59) | 22.08 | (1.74) | 116,694 | 0.71 | 2.73 | 10 | |
(0.52) | — | (0.52) | 23.09 | 15.29 | 112,524 | 0.71 | 2.28 | 10 |
Investment Operations: | ||||
Net Asset Value, Beginning of Period | Net Investment Income/(Loss) | Net Realized and Unrealized Gain/(Loss) from Investments | Total from Investment Operations | |
Steward Large Cap Core Fund | ||||
Class A | ||||
Six months ended October 31, 2022 (Unaudited) | $21.54 | $0.05 | $(0.97) | $(0.92) |
Period ended April 30, 2022(d) | 25.00 | 0.05 | (3.49) | (3.44) |
Institutional Class | ||||
Six months ended October 31, 2022 (Unaudited) | $21.56 | $0.11 | $(1.00) | $(0.89) |
Period ended April 30, 2022(d) | 25.00 | 0.07 | (3.48) | (3.41) |
Steward Large Cap Growth Fund | ||||
Class A | ||||
Six months ended October 31, 2022 (Unaudited) | $20.65 | $0.02 | $(1.49) | $(1.47) |
Period ended April 30, 2022(d) | 25.00 | — (e)(f) | (4.34) | (4.34) |
Institutional Class | ||||
Six months ended October 31, 2022 (Unaudited) | $20.68 | $0.04 | $(1.50) | $(1.46) |
Period ended April 30, 2022(d) | 25.00 | 0.02 (e) | (4.33) | (4.31) |
Steward Large Cap Value Fund | ||||
Class A | ||||
Six months ended October 31, 2022 (Unaudited) | $22.89 | $0.13 | $(0.52) | $(0.39) |
Period ended April 30, 2022(d) | 25.00 | 0.09 | (2.15) | (2.06) |
Institutional Class | ||||
Six months ended October 31, 2022 (Unaudited) | $22.92 | $0.20 | $(0.57) | $(0.37) |
Period ended April 30, 2022(d) | 25.00 | 0.16 | (2.19) | (2.03) |
Steward Select Bond Fund | ||||
Class A | ||||
Six months ended October 31, 2022 (Unaudited) | $22.59 | $0.16 (e) | $(1.46) | $(1.30) |
Year ended April 30, 2022 | 25.05 | 0.28 | (2.46) | (2.18) |
Year ended April 30, 2021 | 25.38 | 0.34 (e) | (0.33) | 0.01 |
Year ended April 30, 2020 | 24.36 | 0.47 (e) | 1.03 | 1.50 |
Year ended April 30, 2019 | 23.96 | 0.49 | 0.39 | 0.88 |
Year ended April 30, 2018 | 24.58 | 0.40 | (0.60) | (0.20) |
Class C | ||||
Six months ended October 31, 2022 (Unaudited) | $25.62 | $0.07 (e) | $(1.68) | $(1.61) |
Year ended April 30, 2022 | 28.38 | 0.06 | (2.75) | (2.69) |
Year ended April 30, 2021 | 28.84 | 0.24 (e) | (0.50) | (0.26) |
Year ended April 30, 2020(g) | 29.13 | — (e)(f) | 0.12 | 0.12 |
Year ended April 30, 2019(g) | 28.71 | — (f) | 0.42 | 0.42 |
Period ended April 30, 2018(g)(h) | 30.00 | — (f) | (0.66) | (0.66) |
Class R6 | ||||
Six months ended October 31, 2022 (Unaudited) | $25.10 | $0.20 (e) | $(1.62) | $(1.42) |
Year ended April 30, 2022 | 27.97 | 0.34 | (2.86) | (2.52) |
Year ended April 30, 2021 | 28.72 | — (e)(f) | (0.29) | (0.29) |
Year ended April 30, 2020(g) | 28.98 | — (e)(f) | 0.31 | 0.31 |
Year ended April 30, 2019(g) | 28.56 | — (f) | 0.42 | 0.42 |
Period ended April 30, 2018(g)(h) | 30.00 | — (f) | (0.69) | (0.69) |
Institutional Class | ||||
Six months ended October 31, 2022 (Unaudited) | $22.45 | $0.18 (e) | $(1.44) | $(1.26) |
Year ended April 30, 2022 | 24.90 | 0.32 | (2.44) | (2.12) |
Year ended April 30, 2021 | 25.28 | 0.39 (e) | (0.32) | 0.07 |
Year ended April 30, 2020 | 24.25 | 0.55 (e) | 1.03 | 1.58 |
Year ended April 30, 2019 | 23.85 | 0.55 | 0.40 | 0.95 |
Year ended April 30, 2018 | 24.47 | 0.48 | (0.61) | (0.13) |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Fund, as a whole, without distinguishing between the classes of shares issued. |
(d) | For the period November 15, 2021 (commencement of operations) through April 30, 2022. |
(e) | Calculated based on average shares outstanding. |
(f) | Expressed as ‘‘—’’ as the income and/or expenses accrued for the class were considered immaterial for presentation purposes relative to the size of the class. |
(g) | Effective March 9, 2020, the share class had a one-for-two reverse stock split. Share amounts for the periods have been adjusted to give effect to the one-for-two stock split. |
(h) | For the period December 14, 2017 (commencement of operations) through April 30, 2018. |
Distributions: | Supplemental data and ratios: | |||||||
Net Investment Income | Total Distributions | Net Asset Value, End of Period | Total Return(a) | Net Assets, End of Period (000's) | Ratio of Expenses to Average Net Assets Prior to Waivers (b) | Ratio of Expenses to Average Net Assets Net of Waivers(b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) |
$ — | $ — | $20.62 | (4.23)% | $ 456 | 1.13% | 1.00% | 0.68% | 44% |
(0.02) | (0.02) | 21.54 | (13.81) | 313 | 1.73 | 1.00 | 0.61 | 35 |
$ — | $ — | $20.67 | (4.13)% | $ 69,561 | 0.93% | 0.75% | 1.05% | 44% |
(0.03) | (0.03) | 21.56 | (13.67) | 69,487 | 0.89 | 0.75 | 0.68 | 35 |
$ — | $ — | $19.18 | (7.12)% | $ 278 | 1.17% | 1.00% | 0.26% | 31% |
(0.01) | (0.01) | 20.65 | (17.38) | 189 | 2.49 | 1.00 | (0.12) | 37 |
$ — | $ — | $19.22 | (7.06)% | $ 54,659 | 0.97% | 0.75% | 0.51% | 31% |
(0.01) | (0.01) | 20.68 | (17.24) | 42,789 | 0.99 | 0.75 | 0.15 | 37 |
$ — | $ — | $22.50 | (1.70)% | $ 509 | 1.17% | 1.00% | 1.51% | 59% |
(0.05) | (0.05) | 22.89 | (8.27) | 328 | 2.01 | 1.00 | 1.13 | 62 |
$ — | $ — | $22.55 | (1.61)% | $ 59,747 | 0.97% | 0.75% | 1.80% | 59% |
(0.05) | (0.05) | 22.92 | (8.13) | 60,314 | 0.91 | 0.75 | 1.55 | 62 |
$(0.16) | $(0.16) | $21.13 | (5.79)% | $ 2,757 | 0.93% | 0.93% | 1.42% | 4% |
(0.28) | (0.28) | 22.59 | (8.79) | 3,832 | 0.92 | 0.92 | 1.12 | 20 |
(0.34) | (0.34) | 25.05 | 0.04 | 5,989 | 0.94 | 0.94 | 1.34 | 24 |
(0.48) | (0.48) | 25.38 | 6.21 | 9,234 | 0.99 | 0.99 | 1.87 | 22 |
(0.48) | (0.48) | 24.36 | 3.72 | 10,115 | 0.95 | 0.95 | 1.97 | 25 |
(0.42) | (0.42) | 23.96 | (0.82) | 11,134 | 0.96 | 0.96 | 1.67 | 5 |
$(0.08) | $(0.08) | $23.93 | (6.30)% | $ 4 | 1.81% | 1.81% | 0.52% | 4% |
(0.07) | (0.07) | 25.62 | (9.49) | 4 | 1.83 | 1.83 | 0.22 | 20 |
(0.20) | (0.20) | 28.38 | (0.90) | 5 | 1.12 | 1.12 | 0.85 | 24 |
(0.41) | (0.41) | 28.84 | 2.08 | — | — (f) | — (f) | — (f) | 22 |
— | — | 29.13 | 1.46 | — | — (f) | — (f) | — (f) | 25 |
(0.63) | (0.63) | 28.71 | (2.27) | — | — (f) | — (f) | — (f) | 5 |
$(0.19) | $(0.19) | $23.49 | (5.71)% | $ 1 | 0.80% | 0.80% | 1.60% | 4% |
(0.35) | (0.35) | 25.10 | (9.11) | 1 | 0.74 | 0.74 | 1.26 | 20 |
(0.46) | (0.46) | 27.97 | (1.04) | — | — (f) | — (f) | — (f) | 24 |
(0.57) | (0.57) | 28.72 | 3.34 | — | — (f) | — (f) | — (f) | 22 |
— | — | 28.98 | 1.47 | — | — (f) | — (f) | — (f) | 25 |
(0.75) | (0.75) | 28.56 | (2.30) | — | — (f) | — (f) | — (f) | 5 |
$(0.18) | $(0.18) | $21.01 | (5.67)% | $133,832 | 0.75% | 0.75% | 1.60% | 4% |
(0.33) | (0.33) | 22.45 | (8.62) | 146,882 | 0.72 | 0.72 | 1.31 | 20 |
(0.45) | (0.45) | 24.90 | 0.26 | 181,279 | 0.70 | 0.70 | 1.54 | 24 |
(0.55) | (0.55) | 25.28 | 6.60 | 142,421 | 0.65 | 0.65 | 2.24 | 22 |
(0.55) | (0.55) | 24.25 | 4.05 | 152,356 | 0.66 | 0.66 | 2.28 | 25 |
(0.49) | (0.49) | 23.85 | (0.54) | 151,593 | 0.66 | 0.66 | 1.98 | 5 |
Investment Operations: | ||||
Net Asset Value, Beginning of Period | Net Investment Income/(Loss) | Net Realized and Unrealized Gain/(Loss) from Investments | Total from Investment Operations | |
Steward Small Cap Growth Fund | ||||
Class A | ||||
Six months ended October 31, 2022 (Unaudited) | $18.78 | $(0.06) | $ (1.59) | $ (1.65) |
Period ended April 30, 2022(d) | 25.00 | (0.03) | (6.19) | (6.22) |
Institutional Class | ||||
Six months ended October 31, 2022 (Unaudited) | $18.80 | $(0.06) | $ (1.58) | $ (1.64) |
Period ended April 30, 2022(d) | 25.00 | (0.02) | (6.17) | (6.19) |
Steward Values-Focused Large Cap Enhanced Index Fund | ||||
Class A | ||||
Six months ended October 31, 2022 (Unaudited) | $40.35 | $ 0.16(e) | $ (2.66) | $ (2.50) |
Year ended April 30, 2022 | 53.12 | 0.20 (e) | 2.06 | 2.26 |
Year ended April 30, 2021 | 39.31 | 0.35 (e) | 17.55 | 17.90 |
Year ended April 30, 2020 | 43.28 | 0.51 (e) | (3.41) | (2.90) |
Year ended April 30, 2019 | 41.50 | 0.47 | 3.24 | 3.71 |
Year ended April 30, 2018 | 36.89 | 0.41 | 4.60 | 5.01 |
Class C | ||||
Six months ended October 31, 2022 (Unaudited) | $34.56 | $(0.02) (e) | $ (2.24) | $ (2.26) |
Year ended April 30, 2022 | 47.63 | (0.13) (e) | 2.00 | 1.87 |
Year ended April 30, 2021 | 35.97 | — (e)(f) | 15.64 | 15.64 |
Year ended April 30, 2020(g) | 43.70 | — (e)(f) | (6.69) (h) | (6.69) |
Year ended April 30, 2019(g) | 48.95 | — (f) | 2.30 | 2.30 |
Period ended April 30, 2018(g)(i) | 50.00 | — (f) | (0.10) | (0.10) |
Class R6 | ||||
Six months ended October 31, 2022 (Unaudited) | $35.13 | $ 0.20(e) | $ (2.31) | $ (2.11) |
Year ended April 30, 2022 | 47.97 | 0.36 (e) | 2.02 | 2.38 |
Year ended April 30, 2021 | 35.83 | 0.51 (e) | 15.92 | 16.43 |
Year ended April 30, 2020(g) | 42.75 | 0.66 (e) | (6.40) | (5.74) |
Year ended April 30, 2019(g) | 48.80 | 0.20 | 2.30 | 2.50 |
Period ended April 30, 2018(g)(i) | 50.00 | — (f) | 0.05 | 0.05 |
Institutional Class | ||||
Six months ended October 31, 2022 (Unaudited) | $40.18 | $ 0.20(e) | $ (2.64) | $ (2.44) |
Year ended April 30, 2022 | 52.95 | 0.33 (e) | 2.07 | 2.40 |
Year ended April 30, 2021 | 39.23 | 0.45 (e) | 17.54 | 17.99 |
Year ended April 30, 2020 | 43.16 | 0.65 (e) | (3.42) | (2.77) |
Year ended April 30, 2019 | 41.34 | 0.60 | 3.23 | 3.83 |
Year ended April 30, 2018 | 36.72 | 0.53 | 4.57 | 5.10 |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Fund, as a whole, without distinguishing between the classes of shares issued. |
(d) | For the period November 15, 2021 (commencement of operations) through April 30, 2022. |
(e) | Calculated based on average shares outstanding. |
(f) | Expressed as ‘‘—’’ as the income and/or expenses accrued for the class were considered immaterial for presentation purposes relative to the size of the class. |
(g) | Effective March 9, 2020, the share class had a one-for-five reverse stock split. Share amounts for the periods have been adjusted to give effect to the one-for-five stock split. |
(h) | Realized and unrealized gains and losses per share in this caption are balancing amounts necessary to reconcile the change in net asset value per share for the period, and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the period. |
(i) | For the period December 14, 2017 (commencement of operations) through April 30, 2018. |
Distributions: | Supplemental data and ratios: | ||||||||
Net Investment Income | Capital Gains | Total Distributions | Net Asset Value, End of Period | Total Return(a) | Net Assets, End of Period (000's) | Ratio of Expenses to Average Net Assets Prior to Waivers (b) | Ratio of Expenses to Average Net Assets Net of Waivers(b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) |
$ — | $ — | $ — | $17.13 | (8.83)% | $ 176 | 1.65% | 1.25% | (0.79)% | 12% |
— | — | — | 18.78 | (24.83) | 167 | 2.88 | 1.25 | (0.90) | 25 |
$ — | $ — | $ — | $17.16 | (8.72)% | $ 23,176 | 1.47% | 1.00% | (0.53)% | 12% |
(0.01) | — | (0.01) | 18.80 | (24.77) | 31,154 | 1.31 | 1.00 | (0.34) | 25 |
$ — | $ — | $ — | $37.85 | (6.20)% | $ 10,018 | 0.89% | 0.89% | 0.81% | 2% |
(0.19) | (14.84) | (15.03) | 40.35 | 1.19 | 11,640 | 0.84 | 0.84 | 0.38 | 35 |
(0.35) | (3.74) | (4.09) | 53.12 | 47.01 | 28,751 | 0.82 | 0.82 | 0.75 | 32 |
(0.40) | (0.67) | (1.07) | 39.31 | (6.91) | 39,094 | 0.84 | 0.84 | 1.18 | 32 |
(0.42) | (1.51) | (1.93) | 43.28 | 9.78 | 41,401 | 0.80 | 0.80 | 1.09 | 27 |
(0.40) | — | (0.40) | 41.50 | 13.61 | 47,998 | 0.84 | 0.84 | 1.02 | 23 |
$ — | $ — | $ — | $32.30 | (6.54)% | $ 28 | 1.56% | 1.56% | (0.10)% | 2% |
(0.10) | (14.84) | (14.94) | 34.56 | 0.43 | 3 | 1.54 | 1.54 | (0.29) | 35 |
(0.24) | (3.74) | (3.98) | 47.63 | 44.88 | — | — (f) | — (f) | — (f) | 32 |
(0.37) | (0.67) | (1.04) | 35.97 | (9.02) | — | — (f) | — (f) | — (f) | 32 |
— | (7.55) | (7.55) | 43.70 | 8.13 | — | — (f) | — (f) | — (f) | 27 |
(0.95) | — | (0.95) | 48.95 | (0.27) | — | — (f) | — (f) | — (f) | 23 |
$ — | $ — | $ — | $33.02 | (6.01)% | $ 521 | 0.52% | 0.52% | 1.18% | 2% |
(0.38) | (14.84) | (15.22) | 35.13 | 1.55 | 528 | 0.49 | 0.49 | 0.79 | 35 |
(0.55) | (3.74) | (4.29) | 47.97 | 47.55 | 520 | 0.45 | 0.45 | 1.23 | 32 |
(0.51) | (0.67) | (1.18) | 35.83 | (6.63) | 49,643 | 0.46 | 0.46 | 1.60 | 32 |
(1.00) | (7.55) | (8.55) | 42.75 | 8.70 | 55,924 | 0.46 | 0.46 | 1.20 | 27 |
(1.25) | — | (1.25) | 48.80 | 0.02 | — | — (f) | — (f) | — (f) | 23 |
$ — | $ — | $ — | $37.74 | (6.07)% | $195,552 | 0.64% | 0.64% | 1.06% | 2% |
(0.33) | (14.84) | (15.17) | 40.18 | 1.45 | 206,747 | 0.58 | 0.58 | 0.64 | 35 |
(0.53) | (3.74) | (4.27) | 52.95 | 47.40 | 368,701 | 0.55 | 0.55 | 0.97 | 32 |
(0.49) | (0.67) | (1.16) | 39.23 | (6.61) | 306,875 | 0.52 | 0.52 | 1.51 | 32 |
(0.50) | (1.51) | (2.01) | 43.16 | 10.13 | 328,404 | 0.50 | 0.50 | 1.39 | 27 |
(0.48) | — | (0.48) | 41.34 | 13.93 | 345,522 | 0.54 | 0.54 | 1.32 | 23 |
Investment Operations: | ||||
Net Asset Value, Beginning of Period | Net Investment Income/(Loss) | Net Realized and Unrealized Gain/(Loss) from Investments | Total from Investment Operations | |
Steward Values-Focused Small-Mid Cap Enhanced Index Fund | ||||
Class A | ||||
Six months ended October 31, 2022 (Unaudited) | $14.33 | $0.06 | $(0.38) | $(0.32) |
Year ended April 30, 2022 | 17.52 | 0.07 | (0.99) | (0.92) |
Year ended April 30, 2021 | 10.54 | 0.04 (d) | 7.49 | 7.53 |
Year ended April 30, 2020 | 13.94 | 0.07 (d) | (2.91) | (2.84) |
Year ended April 30, 2019 | 15.70 | 0.09 | 0.03 (e) | 0.12 |
Year ended April 30, 2018 | 15.44 | 0.11 | 1.37 | 1.48 |
Class C | ||||
Six months ended October 31, 2022 (Unaudited) | $12.88 | $0.08 | $(0.37) | $(0.29) |
Year ended April 30, 2022 | 16.14 | 0.04 | (1.00) | (0.96) |
Year ended April 30, 2021 | 9.84 | — (d)(f) | 6.81 | 6.81 |
Year ended April 30, 2020(g) | 13.64 | — (d)(f) | (3.27) | (3.27) |
Year ended April 30, 2019(g) | 17.52 | — (f) | (0.32) | (0.32) |
Period ended April 30, 2018(g)(h) | 20.00 | — (f) | (0.08) | (0.08) |
Class R6 | ||||
Six months ended October 31, 2022 (Unaudited) | $13.26 | $0.09 | $(0.36) | $(0.27) |
Year ended April 30, 2022 | 16.37 | 0.13 | (0.93) | (0.80) |
Year ended April 30, 2021 | 9.87 | 0.08 (d) | 7.01 | 7.09 |
Year ended April 30, 2020(g) | 13.56 | 0.14 (d) | (3.24) | (3.10) |
Year ended April 30, 2019(g) | 17.48 | — (f) | (0.36) | (0.36) |
Period ended April 30, 2018(g)(h) | 20.00 | — (f) | (0.08) | (0.08) |
Institutional Class | ||||
Six months ended October 31, 2022 (Unaudited) | $14.67 | $0.07 | $(0.39) | $(0.32) |
Year ended April 30, 2022 | 17.87 | 0.12 | (1.02) | (0.90) |
Year ended April 30, 2021 | 10.74 | 0.07 (d) | 7.65 | 7.72 |
Year ended April 30, 2020 | 14.19 | 0.11 (d) | (2.98) | (2.87) |
Year ended April 30, 2019 | 15.93 | 0.13 | 0.04 (e) | 0.17 |
Year ended April 30, 2018 | 15.65 | 0.15 | 1.39 | 1.54 |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Fund, as a whole, without distinguishing between the classes of shares issued. |
(d) | Calculated based on average shares outstanding. |
(e) | Realized and unrealized gains and losses per share in this caption are balancing amounts necessary to reconcile the change in net asset value per share for the period, and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the period. |
(f) | Expressed as ‘‘—’’ as the income and/or expenses accrued for the class were considered immaterial for presentation purposes relative to the size of the class. |
(g) | Effective March 9, 2020, the share class had a one-for-two reverse stock split. Share amounts for the periods have been adjusted to give effect to the one-for-two stock split. |
(h) | For the period December 14, 2017 (commencement of operations) through April 30, 2018. |
Distributions: | Supplemental data and ratios: | ||||||||
Net Investment Income | Capital Gains | Total Distributions | Net Asset Value, End of Period | Total Return(a) | Net Assets, End of Period (000's) | Ratio of Expenses to Average Net Assets (b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) | |
$ — | $ — | $ — | $14.01 | (2.23)% | $ 45,520 | 0.83% | 0.88% | 6% | |
(0.09) | (2.18) | (2.27) | 14.33 | (6.35) | 47,599 | 0.80 | 0.39 | 33 | |
(0.06) | (0.49) | (0.55) | 17.52 | 72.56 | 64,997 | 0.78 | 0.31 | 36 | |
(0.10) | (0.46) | (0.56) | 10.54 | (21.24) | 50,646 | 0.81 | 0.58 | 28 | |
(0.10) | (1.78) | (1.88) | 13.94 | 3.18 | 71,719 | 0.81 | 0.56 | 33 | |
(0.08) | (1.14) | (1.22) | 15.70 | 9.59 | 77,227 | 0.83 | 0.69 | 29 | |
$ — | $ — | $ — | $12.59 | (2.25)% | $ 4 | 0.81% | 0.94% | 6% | |
(0.12) | (2.18) | (2.30) | 12.88 | (7.20) | 1 | 0.89 | 0.46 | 33 | |
(0.01) | (0.50) | (0.51) | 16.14 | 70.10 | — | — (f) | — (f) | 36 | |
(0.07) | (0.46) | (0.53) | 9.84 | (22.17) | — | — (f) | — (f) | 28 | |
— | (3.56) | (3.56) | 13.64 | 2.55 | — | — (f) | — (f) | 33 | |
(0.12) | (2.28) | (2.40) | 17.52 | (0.48) | — | — (f) | — (f) | 29 | |
$ — | $ — | $ — | $12.99 | (2.04)% | $ 353 | 0.54% | 1.18% | 6% | |
(0.13) | (2.18) | (2.31) | 13.26 | (6.09) | 402 | 0.53 | 0.67 | 33 | |
(0.10) | (0.49) | (0.59) | 16.37 | 73.12 | 125 | 0.47 | 0.52 | 36 | |
(0.13) | (0.46) | (0.59) | 9.87 | (20.85) | 46 | 0.50 | 1.11 | 28 | |
— | (3.56) | (3.56) | 13.56 | 2.27 | 3 | — (f) | — (f) | 33 | |
(0.16) | (2.28) | (2.44) | 17.48 | (0.56) | — | — (f) | — (f) | 29 | |
$ — | $ — | $ — | $14.35 | (2.18)% | $129,196 | 0.66% | 1.04% | 6% | |
(0.12) | (2.18) | (2.30) | 14.67 | (6.15) | 138,771 | 0.61 | 0.57 | 33 | |
(0.09) | (0.50) | (0.59) | 17.87 | 73.00 | 208,505 | 0.57 | 0.51 | 36 | |
(0.12) | (0.46) | (0.58) | 10.74 | (21.05) | 140,792 | 0.55 | 0.86 | 28 | |
(0.13) | (1.78) | (1.91) | 14.19 | 3.51 | 153,576 | 0.53 | 0.84 | 33 | |
(0.12) | (1.14) | (1.26) | 15.93 | 9.87 | 154,975 | 0.57 | 0.95 | 29 |
Note 1 | — | Organization: |
Note 2 | — | Investment Objectives and Strategies: |
Note 3 | — | Significant Accounting Policies: |
Investments in Securities | ||||||||
Fund | LEVEL 1 | LEVEL 2 | LEVEL 3 | Total | ||||
Steward Covered Call Income Fund | ||||||||
Assets: | ||||||||
Security Type | ||||||||
Common Stocks* | $ 36,443,367 | $ — | $ — | $ 36,443,367 | ||||
Money Market Fund | 305,282 | — | — | 305,282 | ||||
Total Assets - Investments | $ 36,748,649 | $ — | $ — | $ 36,748,649 |
Liabilities: | |||||||
Other Financial Instruments^ | |||||||
Written Call Options | $ (1,905,805) | $ — | $ — | $ (1,905,805) | |||
Total Liabilities - Other Financial Instruments | $ (1,905,805) | $ — | $ — | $ (1,905,805) |
Steward Equity Market Neutral Fund | |||||||
Assets: | |||||||
Security Type | |||||||
Common Stocks* | $ 39,064,754 | $ — | $ — | $ 39,064,754 | |||
Money Market Fund | 56,790,338 | — | — | 56,790,338 | |||
Total Assets - Investments | $ 95,855,092 | $ — | $ — | $ 95,855,092 |
Liabilities: | |||||||
Security Type | |||||||
Common Stocks Sold Short* | $ (28,754,328) | $ — | $ — | $ (28,754,328) | |||
Total Liabilities - Securities Sold Short | $ (28,754,328) | $ — | $ — | $ (28,754,328) |
Steward Global Equity Income Fund | |||||||
Assets: | |||||||
Security Type | |||||||
Common Stocks* | $ 278,790,076 | $ — | $ — | $ 278,790,076 | |||
Money Market Fund | 6,085,786 | — | — | 6,085,786 | |||
Preferred Stocks* | 3,784,736 | — | — | 3,784,736 | |||
Total Assets - Investments | $ 288,660,598 | $ — | $ — | $ 288,660,598 |
Investments in Securities | ||||||||
Fund | LEVEL 1 | LEVEL 2 | LEVEL 3 | Total | ||||
Steward International Enhanced Index Fund | ||||||||
Assets: | ||||||||
Security Type | ||||||||
Common Stocks* | $ 173,485,857 | $ — | $ — | $ 173,485,857 | ||||
Master Limited Partnerships | 887,672 | — | — | 887,672 | ||||
Preferred Stocks* | 3,617,131 | — | — | 3,617,131 | ||||
Total Assets - Investments | $ 177,990,660 | $ — | $ — | $ 177,990,660 |
Steward Large Cap Core Fund | |||||||
Assets: | |||||||
Security Type | |||||||
Common Stocks* | $ 69,920,678 | $ — | $ — | $ 69,920,678 | |||
Money Market Fund | 101,879 | — | — | 101,879 | |||
Total Assets - Investments | $ 70,022,557 | $ — | $ — | $ 70,022,557 |
Steward Large Cap Growth Fund | |||||||
Assets: | |||||||
Security Type | |||||||
Common Stocks* | $ 54,764,403 | $ — | $ — | $ 54,764,403 | |||
Money Market Fund | 110,601 | — | — | 110,601 | |||
Total Assets - Investments | $ 54,875,004 | $ — | $ — | $ 54,875,004 |
Steward Large Cap Value Fund | |||||||
Assets: | |||||||
Security Type | |||||||
Common Stocks* | $ 60,136,386 | $ — | $ — | $ 60,136,386 | |||
Money Market Fund | 123,492 | — | — | 123,492 | |||
Total Assets - Investments | $ 60,259,878 | $ — | $ — | $ 60,259,878 |
Steward Select Bond Fund | |||||||
Assets: | |||||||
Security Type | |||||||
Asset-Backed Securities | $ — | $ 46,629 | $ — | $ 46,629 | |||
Corporate Bonds* | — | 88,887,703 | — | 88,887,703 | |||
Money Market Fund | 1,497,196 | — | — | 1,497,196 | |||
Municipal Bonds | — | 4,535,690 | — | 4,535,690 | |||
U.S. Government Agencies | — | 29,753,479 | — | 29,753,479 | |||
U.S. Government Agency Mortgage-Backed Obligations | — | 6,762,868 | — | 6,762,868 | |||
U.S. Treasury Obligations | — | 4,110,764 | — | 4,110,764 | |||
Total Assets - Investments | $ 1,497,196 | $ 134,097,133 | $ — | $ 135,594,329 |
Steward Small Cap Growth Fund | |||||||
Assets: | |||||||
Security Type | |||||||
Common Stocks* | $ 23,220,997 | $ — | $ — | $ 23,220,997 | |||
Money Market Fund | 138,561 | — | — | 138,561 | |||
Total Assets - Investments | $ 23,359,558 | $ — | $ — | $ 23,359,558 |
Investments in Securities | ||||||||
Fund | LEVEL 1 | LEVEL 2 | LEVEL 3 | Total | ||||
Steward Values-Focused Large Cap Enhanced Index Fund | ||||||||
Assets: | ||||||||
Security Type | ||||||||
Common Stocks* | $ 204,370,954 | $ — | $ — | $ 204,370,954 | ||||
Money Market Fund | 1,711,391 | — | — | 1,711,391 | ||||
Total Assets - Investments | $ 206,082,345 | $ — | $ — | $ 206,082,345 |
Steward Values-Focused Small-Mid Cap Enhanced Index Fund | |||||||
Assets: | |||||||
Security Type | |||||||
Common Stocks* | $ 172,331,009 | $ — | $ — | $ 172,331,009 | |||
Money Market Fund | 2,754,517 | — | — | 2,754,517 | |||
Right | — | — | —** | — | |||
Total Assets - Investments | $ 175,085,526 | $ — | $ — | $ 175,085,526 |
* | Please refer to the Schedule of Portfolio Investments to view investments and securities sold short. |
** | Level 3 security has zero value. |
^ | Other Financial Instruments would include any derivative instruments, such as written options contracts. These investments are generally recorded in the financial statements at fair value. |
Liability Derivatives | ||||||
Fund | Primary Risk Exposure | Statements of Asset and Liabilities Location | Total Fair Value | |||
Steward Covered Call Income Fund | Equity Risk Options Contracts | Written options at fair value | $(1,905,805) |
Realized Gain/(Loss) on Derivatives Recognized as a Result from Operations | Change in Unrealized Appreciation/(Depreciation) on Derivatives Recognized as a Result from Operations | |||||
Fund | Primary Risk Exposure | Net realized gains on options transactions | Change in unrealized depreciation on options transactions | |||
Steward Covered Call Income Fund | Equity Risk | $2,374,894 | $(1,074,186) |
Note 4 | — | Investment Advisory and Other Agreements: |
Steward Covered Call Income Fund | Steward Large Cap Value Fund |
— 0.625% of the first $1 billion | — 0.50% of the first $1 billion |
— 0.5625% of assets over $1 billion | — 0.45% of the next $1 billion |
— 0.40% of assets over $2 billion | |
Steward Equity Market Neutral Fund | Steward Select Bond Fund |
— 1.00% of the first $1 billion | — 0.315% of the first $1 billion |
— 0.90% of the next $1 billion | — 0.2835% of assets over $1 billion |
— 0.80% of assets over $2 billion | |
Steward Global Equity Income Fund | Steward Small Cap Growth Fund |
— 0.625% of the first $1 billion | — 0.75% of the first $1 billion |
— 0.5625% of assets over $1 billion | — 0.70% of the next $1 billion |
— 0.65% of assets over $2 billion | |
Steward International Enhanced Index Fund | Steward Values-Focused Large Cap Enhanced Index Fund |
— 0.365% of the first $1 billion | — 0.215% of the first $1 billion |
— 0.3285% of assets over $1 billion | — 0.1935% of assets over $1 billion |
Steward Large Cap Core Fund | Steward Values-Focused Small-Mid Cap Enhanced Index Fund |
— 0.50% of the first $1 billion | — 0.215% of the first $1 billion |
— 0.45% of the next $1 billion | — 0.1935% of assets over $1 billion |
— 0.40% of assets over $2 billion | |
Steward Large Cap Growth Fund | |
— 0.50% of the first $1 billion | |
— 0.45% of the next $1 billion | |
— 0.40% of assets over $2 billion |
In effect through August 27, 2023 | ||||||||
Fund | Class A | Class C | Class R6 | Institutional Class | ||||
Steward Covered Call Income Fund | 1.25% | 2.00% | 0.90% | 1.00% | ||||
Steward Equity Market Neutral Fund | 2.25% | N/A | N/A | 2.00% | ||||
Steward Large Cap Core Fund | 1.00% | N/A | N/A | 0.75% | ||||
Steward Large Cap Growth Fund | 1.00% | N/A | N/A | 0.75% | ||||
Steward Large Cap Value Fund | 1.00% | N/A | N/A | 0.75% | ||||
Steward Small Cap Growth Fund | 1.25% | N/A | N/A | 1.00% | ||||
Fund | Expires April 30, 2023 | Expires April 30, 2024 | Expires April 30, 2025 | Expires April 30, 2026 | ||||
Steward Covered Call Income Fund | $96,611 | $314,550 | $173,717 | $93,897 | ||||
Steward Equity Market Neutral Fund | N/A | N/A | N/A | N/A | ||||
Steward Large Cap Core Fund | N/A | N/A | 43,800 | 63,550 | ||||
Steward Large Cap Growth Fund | N/A | N/A | 46,893 | 55,876 | ||||
Steward Large Cap Value Fund | N/A | N/A | 41,105 | 65,132 | ||||
Steward Small Cap Growth Fund | N/A | N/A | 44,894 | 57,990 |
Note 5 | — | Purchases and Sales of Securities: |
Fund | Purchases | Sales | ||
Steward Covered Call Income Fund | $ 25,768,895 | $ 9,679,372 | ||
Steward Equity Market Neutral Fund | 52,367,981 | 48,589,111 | ||
Steward Global Equity Income Fund | 122,593,525 | 99,771,892 | ||
Steward International Enhanced Index Fund | 20,219,589 | 17,521,555 | ||
Steward Large Cap Core Fund | 33,835,502 | 30,593,283 | ||
Steward Large Cap Growth Fund | 30,224,077 | 15,656,100 | ||
Steward Large Cap Value Fund | 35,228,652 | 34,268,314 | ||
Steward Select Bond Fund | 3,254,910 | 6,531,697 | ||
Steward Small Cap Growth Fund | 2,975,736 | 8,274,814 | ||
Steward Values-Focused Large Cap Enhanced Index Fund | 6,823,095 | 4,792,459 | ||
Steward Values-Focused Small-Mid Cap Enhanced Index Fund | 9,572,983 | 17,309,325 |
Fund | Purchases | Sales | ||
Steward Select Bond Fund | $ 2,000,000 | $ 742,080 |
Note 6 | — | Federal Income Tax Information: |
Fund | Tax Cost of Securities | Unrealized Appreciation | Unrealized Depreciation | Net Unrealized Appreciation/(Depreciation) | ||||
Steward Covered Call Income Fund | $ 42,293,128 | $ 1,082,627 | $ (6,627,106) | $ (5,544,479) | ||||
Steward Equity Market Neutral Fund | 62,811,643 | 7,828,544 | (3,539,423) | 4,289,121 | ||||
Steward Global Equity Income Fund | 294,542,188 | 27,294,150 | (33,175,740) | (5,881,590) | ||||
Steward International Enhanced Index Fund | 206,754,488 | 12,291,617 | (41,055,445) | (28,763,828) | ||||
Steward Large Cap Core Fund | 75,865,058 | 3,021,025 | (8,863,526) | (5,842,501) | ||||
Steward Large Cap Growth Fund | 61,764,595 | 1,547,046 | (8,436,637) | (6,889,591) | ||||
Steward Large Cap Value Fund | 61,617,123 | 3,856,632 | (5,213,877) | (1,357,245) | ||||
Steward Select Bond Fund | 158,150,212 | 1,604 | (22,557,487) | (22,555,883) | ||||
Steward Small Cap Growth Fund | 30,704,219 | 1,606,102 | (8,950,763) | (7,344,661) | ||||
Steward Values-Focused Large Cap Enhanced Index Fund | 204,474,503 | 24,907,811 | (23,299,969) | 1,607,842 | ||||
Steward Values-Focused Small-Mid Cap Enhanced Index Fund | 170,874,329 | 28,919,563 | (24,708,366) | 4,211,197 |
Distributions Paid From | ||||||
Fund | Ordinary Income | Net Long-Term Capital Gains | Total Distribution Paid | |||
Steward Covered Call Income Fund | $ 2,177,626 | $ 1,057,541 | $ 3,235,167 | |||
Steward Equity Market Neutral Fund | — | — | — | |||
Steward Global Equity Income Fund | 18,666,571 | 25,167,668 | 43,834,239 | |||
Steward International Enhanced Index Fund | 3,719,850 | 4,885,523 | 8,605,373 | |||
Steward Large Cap Core Fund | 60,584 | — | 60,584 | |||
Steward Large Cap Growth Fund | 20,782 | — | 20,782 | |||
Steward Large Cap Value Fund | 105,359 | — | 105,359 | |||
Steward Select Bond Fund | 2,393,851 | — | 2,393,851 | |||
Steward Small Cap Growth Fund | 10,843 | — | 10,843 | |||
Steward Values-Focused Large Cap Enhanced Index Fund | 7,882,401 | 64,063,965 | 71,946,366 | |||
Steward Values-Focused Small-Mid Cap Enhanced Index Fund | 7,799,214 | 19,535,711 | 27,334,925 |
Fund | Ordinary Income | Short-term Capital Gain | Long-term Capital Gain | Total Equalization | ||||
Steward Covered Call Income Fund | $ 4,436 | $ 672,974 | $ 145,164 | $ 822,574 | ||||
Steward Global Equity Income Fund | 747,095 | 2,323,358 | 6,354,866 | 9,425,319 | ||||
Steward International Enhanced Index Fund | 170,280 | — | 234,735 | 405,015 | ||||
Steward Large Cap Core Fund | 355 | — | — | 355 | ||||
Steward Large Cap Value Fund | 5,244 | — | — | 5,244 | ||||
Steward Values-Focused Large Cap Enhanced Index Fund | 168,716 | 5,052,484 | 36,840,606 | 42,061,806 | ||||
Steward Values-Focused Small-Mid Cap Enhanced Index Fund | — | 1,518,129 | 11,633,754 | 13,151,883 |
Fund | Undistributed Ordinary Income | Undistributed Long-Term Capital Gains | Distributable Earnings | Accumulated Capital and Other Losses | Unrealized Appreciation/(Depreciation) | Total Distributable Earnings/(Accumulated Deficit) | ||||||
Steward Covered Call Income Fund | $ 1,028,764 | $ 220,456 | $ 1,249,220 | $ (2,271) | $ (3,124,339) | $ (1,877,390) | ||||||
Steward Equity Market Neutral Fund | — | — | — | (301,309) | 1,736,538 | 1,435,229 | ||||||
Steward Global Equity Income Fund | 4,591,948 | 9,503,884 | 14,095,832 | — | 28,488,353 | 42,584,185 | ||||||
Steward International Enhanced Index Fund | 1,573,452 | 2,169,041 | 3,742,493 | — | (1,174,375) | 2,568,118 | ||||||
Steward Large Cap Core Fund | 143,289 | — | 143,289 | (1,667,681) | (8,209,958) | (9,734,350) | ||||||
Steward Large Cap Growth Fund | 8,693 | — | 8,693 | (1,724,890) | (6,220,814) | (7,937,011) | ||||||
Steward Large Cap Value Fund | 286,717 | — | 286,717 | (982,404) | (4,325,360) | (5,021,047) | ||||||
Steward Select Bond Fund | 326,890 | — | 326,890 | (2,344,343) | (13,089,072) | (15,106,525) | ||||||
Steward Small Cap Growth Fund | — | — | — | (358,304) | (8,554,114) | (8,912,418) | ||||||
Steward Values-Focused Large Cap Enhanced Index Fund | 8,525,601 | 60,156,338 | 68,681,939 | — | 16,630,387 | 85,312,326 | ||||||
Steward Values-Focused Small-Mid Cap Enhanced Index Fund | 3,914,283 | 29,996,017 | 33,910,300 | — | 10,604,110 | 44,514,410 |
Fund | Short-Term Amount | Long-Term Amount | Total | |||
Steward Covered Call Income Fund | $ — | $ — | $ — | |||
Steward Equity Market Neutral Fund | 301,309 | — | 301,309 | |||
Steward Global Equity Income Fund | — | — | — | |||
Steward International Enhanced Index Fund | — | — | — | |||
Steward Large Cap Core Fund | 1,667,681 | — | 1,667,681 | |||
Steward Large Cap Growth Fund | 1,724,890 | — | 1,724,890 | |||
Steward Large Cap Value Fund | 982,404 | — | 982,404 | |||
Steward Select Bond Fund | 116,206 | 2,228,137 | 2,344,343 | |||
Steward Small Cap Growth Fund | 305,173 | — | 305,173 | |||
Steward Values-Focused Large Cap Enhanced Index Fund | — | — | — | |||
Steward Values-Focused Small-Mid Cap Enhanced Index Fund | — | — | — |
Fund | Total | |
Steward Select Bond Fund | $ 171,599 |
Fund | Late-Year Ordinary Loss Deferred | |
Steward Small Cap Growth Fund | $ 53,131 | |
Note 7 | — | Control Ownership: |
Percent Owned | ||||
Steward Covered Call Income Fund | MSCS Financial Services, LLC | 45% | ||
Steward Covered Call Income Fund | National Financial Services LLC | 36% | ||
Steward Equity Market Neutral Fund | MSCS Financial Services, LLC | 28% | ||
Steward Equity Market Neutral Fund | National Financial Services LLC | 50% | ||
Steward Global Equity Income Fund | MSCS Financial Services, LLC | 26% | ||
Steward Global Equity Income Fund | National Financial Services LLC | 35% | ||
Steward International Enhanced Index Fund | MSCS Financial Services, LLC | 49% | ||
Steward International Enhanced Index Fund | National Financial Services LLC | 43% | ||
Steward Large Cap Core Fund | MSCS Financial Services, LLC | 65% | ||
Steward Large Cap Core Fund | National Financial Services LLC | 30% | ||
Steward Large Cap Growth Fund | MSCS Financial Services, LLC | 57% | ||
Steward Large Cap Growth Fund | National Financial Services LLC | 40% | ||
Steward Large Cap Value Fund | MSCS Financial Services, LLC | 72% | ||
Steward Large Cap Value Fund | National Financial Services LLC | 26% | ||
Steward Select Bond Fund | MSCS Financial Services, LLC | 59% | ||
Steward Select Bond Fund | National Financial Services LLC | 34% | ||
Steward Small Cap Growth Fund | MSCS Financial Services, LLC | 81% | ||
Steward Values-Focused Large Cap Enhanced Index Fund | MSCS Financial Services, LLC | 43% | ||
Steward Values-Focused Large Cap Enhanced Index Fund | National Financial Services LLC | 34% | ||
Steward Values-Focused Small-Mid Cap Enhanced Index Fund | National Financial Services LLC | 30% | ||
Note 8 | — | LIBOR Transition: |
Fund | Beginning Account Value 5/1/22 | Ending Account Value 10/31/22 | Expenses Paid During Period 5/1/22 – 10/31/22* | Expense Ratio During Period 5/1/22 – 10/31/22** | ||||
Steward Covered Call Income Fund | ||||||||
Class A | $1,000.00 | $ 972.00 | $6.21 | 1.25% | ||||
Class C | 1,000.00 | 967.10 | 9.92 | 2.00% | ||||
Class R6 | 1,000.00 | 973.90 | 4.48 | 0.90% | ||||
Institutional Class | 1,000.00 | 973.30 | 4.97 | 1.00% | ||||
Steward Equity Market Neutral Fund | ||||||||
Class A | 1,000.00 | 1,049.90 | 9.04 | 1.75% | ||||
Institutional Class | 1,000.00 | 1,051.30 | 7.65 | 1.48% | ||||
Steward Global Equity Income Fund | ||||||||
Class A | 1,000.00 | 918.70 | 6.05 | 1.25% | ||||
Class C | 1,000.00 | 914.00 | 9.84 | 2.04% | ||||
Class R6 | 1,000.00 | 920.80 | 4.41 | 0.91% | ||||
Institutional Class | 1,000.00 | 919.80 | 4.98 | 1.03% | ||||
Steward International Enhanced Index Fund | ||||||||
Class A | 1,000.00 | 873.00 | 4.58 | 0.97% | ||||
Class C | 1,000.00 | 872.80 | 4.30 | 0.91% | ||||
Class R6 | 1,000.00 | 874.50 | 3.17 | 0.67% | ||||
Institutional Class | 1,000.00 | 874.00 | 3.68 | 0.78% | ||||
Steward Large Cap Core Fund | ||||||||
Class A | 1,000.00 | 957.70 | 4.93 | 1.00% | ||||
Institutional Class | 1,000.00 | 958.70 | 3.70 | 0.75% | ||||
Steward Large Cap Growth Fund | ||||||||
Class A | 1,000.00 | 928.80 | 4.86 | 1.00% | ||||
Institutional Class | 1,000.00 | 929.40 | 3.65 | 0.75% | ||||
Steward Large Cap Value Fund | ||||||||
Class A | 1,000.00 | 983.00 | 5.00 | 1.00% | ||||
Institutional Class | 1,000.00 | 983.90 | 3.75 | 0.75% | ||||
Steward Select Bond Fund | ||||||||
Class A | 1,000.00 | 942.10 | 4.55 | 0.93% | ||||
Class C | 1,000.00 | 937.00 | 8.84 | 1.81% | ||||
Class R6 | 1,000.00 | 942.90 | 3.92 | 0.80% | ||||
Institutional Class | 1,000.00 | 943.30 | 3.67 | 0.75% | ||||
Steward Small Cap Growth Fund | ||||||||
Class A | 1,000.00 | 911.70 | 6.02 | 1.25% | ||||
Institutional Class | 1,000.00 | 912.80 | 4.82 | 1.00% | ||||
Steward Values-Focused Large Cap Enhanced Index Fund | ||||||||
Class A | 1,000.00 | 938.00 | 4.35 | 0.89% | ||||
Class C | 1,000.00 | 934.60 | 7.70 | 1.58% | ||||
Class R6 | 1,000.00 | 939.90 | 2.54 | 0.52% | ||||
Institutional Class | 1,000.00 | 939.30 | 3.13 | 0.64% |
Fund | Beginning Account Value 5/1/22 | Ending Account Value 10/31/22 | Expenses Paid During Period 5/1/22 – 10/31/22* | Expense Ratio During Period 5/1/22 – 10/31/22** | ||||
Steward Values-Focused Small-Mid Cap Enhanced Index Fund | ||||||||
Class A | $1,000.00 | $977.70 | $4.14 | 0.83% | ||||
Class C | 1,000.00 | 977.50 | 4.04 | 0.81% | ||||
Class R6 | 1,000.00 | 979.60 | 2.69 | 0.54% | ||||
Institutional Class | 1,000.00 | 978.20 | 3.29 | 0.66% |
* | Expenses are equal to the annualized expense ratio multiplied by the average account value over the period multiplied by 184/365 (to reflect the one-half year period). |
** | The expense ratio for each class of the following Funds reflects an expense limitation: Steward Covered Call Income Fund, Steward Large Cap Core Fund, Steward Large Cap Growth Fund, Steward Large Cap Value Fund and Steward Small Cap Growth Fund. See Note 4 in the Notes to Financial Statements. |
Fund | Beginning Account Value 5/1/22 | Ending Account Value 10/31/22 | Expenses Paid During Period 5/1/22 – 10/31/22* | Expense Ratio During Period 5/1/22 – 10/31/22** | ||||
Steward Covered Call Income Fund | ||||||||
Class A | $1,000.00 | $1,018.90 | $ 6.36 | 1.25% | ||||
Class C | 1,000.00 | 1,015.12 | 10.16 | 2.00% | ||||
Class R6 | 1,000.00 | 1,020.67 | 4.58 | 0.90% | ||||
Institutional Class | 1,000.00 | 1,020.16 | 5.09 | 1.00% | ||||
Steward Equity Market Neutral Fund | ||||||||
Class A | 1,000.00 | 1,016.38 | 8.89 | 1.75% | ||||
Institutional Class | 1,000.00 | 1,017.74 | 7.53 | 1.48% | ||||
Steward Global Equity Income Fund | ||||||||
Class A | 1,000.00 | 1,018.90 | 6.36 | 1.25% | ||||
Class C | 1,000.00 | 1,014.92 | 10.36 | 2.04% | ||||
Class R6 | 1,000.00 | 1,020.62 | 4.63 | 0.91% | ||||
Institutional Class | 1,000.00 | 1,020.01 | 5.24 | 1.03% | ||||
Steward International Enhanced Index Fund | ||||||||
Class A | 1,000.00 | 1,020.32 | 4.94 | 0.97% | ||||
Class C | 1,000.00 | 1,020.62 | 4.63 | 0.91% | ||||
Class R6 | 1,000.00 | 1,021.83 | 3.41 | 0.67% | ||||
Institutional Class | 1,000.00 | 1,021.27 | 3.97 | 0.78% | ||||
Steward Large Cap Core Fund | ||||||||
Class A | 1,000.00 | 1,020.16 | 5.09 | 1.00% | ||||
Institutional Class | 1,000.00 | 1,021.42 | 3.82 | 0.75% | ||||
Steward Large Cap Growth Fund | ||||||||
Class A | 1,000.00 | 1,020.16 | 5.09 | 1.00% | ||||
Institutional Class | 1,000.00 | 1,021.42 | 3.82 | 0.75% | ||||
Steward Large Cap Value Fund | ||||||||
Class A | 1,000.00 | 1,020.16 | 5.09 | 1.00% | ||||
Institutional Class | 1,000.00 | 1,021.42 | 3.82 | 0.75% | ||||
Steward Select Bond Fund | ||||||||
Class A | 1,000.00 | 1,020.52 | 4.74 | 0.93% | ||||
Class C | 1,000.00 | 1,016.08 | 9.20 | 1.81% | ||||
Class R6 | 1,000.00 | 1,021.17 | 4.08 | 0.80% | ||||
Institutional Class | 1,000.00 | 1,021.42 | 3.82 | 0.75% | ||||
Steward Small Cap Growth Fund | ||||||||
Class A | 1,000.00 | 1,018.90 | 6.36 | 1.25% | ||||
Institutional Class | 1,000.00 | 1,020.16 | 5.09 | 1.00% | ||||
Steward Values-Focused Large Cap Enhanced Index Fund | ||||||||
Class A | 1,000.00 | 1,020.72 | 4.53 | 0.89% | ||||
Class C | 1,000.00 | 1,017.24 | 8.03 | 1.58% | ||||
Class R6 | 1,000.00 | 1,022.58 | 2.65 | 0.52% | ||||
Institutional Class | 1,000.00 | 1,021.98 | 3.26 | 0.64% | ||||
Steward Values-Focused Small-Mid Cap Enhanced Index Fund | ||||||||
Class A | 1,000.00 | 1,021.02 | 4.23 | 0.83% | ||||
Class C | 1,000.00 | 1,021.12 | 4.13 | 0.81% | ||||
Class R6 | 1,000.00 | 1,022.48 | 2.75 | 0.54% | ||||
Institutional Class | 1,000.00 | 1,021.88 | 3.36 | 0.66% |
* | Expenses are equal to the annualized expense ratio multiplied by the average account value over the period multiplied by 184/365 (to reflect the one-half year period). |
** | The expense ratio for each class of the following Funds reflects an expense limitation: Steward Covered Call Income Fund, Steward Large Cap Core Fund, Steward Large Cap Growth Fund, Steward Large Cap Value Fund and Steward Small Cap Growth Fund. See Note 4 in the Notes to Financial Statements. |
Visit us online at:
crossmarkglobal.com
STEWARD FUNDS
SEMI-ANNUAL REPORT
Steward Covered Call Income Fund
Steward Equity Market Neutral Fund
Steward Global Equity Income Fund
Steward International Enhanced Index Fund
Steward Large Cap Core Fund
Steward Large Cap Growth Fund
Steward Large Cap Value Fund
Steward Select Bond Fund
Steward Small Cap Growth Fund
Steward Values-Focused Large Cap Enhanced Index Fund
Steward Values-Focused Small-Mid Cap Enhanced Index Fund
Distributed by:
Crossmark Distributors, Inc.
15375 Memorial Dr, Suite 200
Houston, TX 77079
888-845-6910
stewardfunds@crossmarkglobal.com
For more complete information about the Steward Funds, including charges and expenses, contact the Distributor to receive a prospectus. Please read it carefully before you invest or send money.
(b) | Not applicable. |
Item 2. Code of Ethics.
Not applicable for the reporting period.
Item 3. Audit Committee Financial Expert.
Not applicable for the reporting period.
Item 4. Principal Accountant Fees and Services.
Not applicable for the reporting period.
Item 5. Audit Committee of Listed Registrants.
Not applicable for the reporting period.
Item 6. Investments.
(a) | The schedules of investments are included as part of the report to shareholders filed under Item 1(a) of this Form N-CSR. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no changes to the procedures by which shareholders may recommend nominees to the registrant’s Board of Directors.
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Item 11. Controls and Procedures.
(a) | The registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the registrant’s disclosure controls and procedures as conducted within 90 days of the filing date of this report, that these disclosure controls and procedures are adequately designed and are operating effectively to ensure that information required to be disclosed by the registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms. |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that have materially affected or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
(a) (1) | Not applicable for the reporting period. |
(a) (2) | Certifications for the principal executive and principal financial officer of the registrant as required by Rule 30a-2 under the Act (17 CFR 270.30a-2(a)) are attached hereto. |
(a) (3) | Not applicable. |
(a) (4) | Not applicable. |
(b) Certifications pursuant to Rule 30a-2(b) are furnished herewith.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Steward Funds, Inc. | ||
By: | /s/ Michael L. Kern, III | |
Michael L. Kern, III | ||
President and Treasurer | ||
(Principal Executive Officer and Principal Financial Officer) |
Date: December 28, 2022
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Michael L. Kern, III | |
Michael L. Kern, III | ||
President and Treasurer | ||
(Principal Executive Officer and Principal Financial Officer) |
Date: December 28, 2022
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