Capital Management Investment Trust NPORT-P Wellington Shields All-Cap Fund (Feb 2023 report)

Wellington Shields All-Cap Fund
		Schedule of Investments
		February 28, 2023 (Unaudited)
Shares				Fair Value	% of Net Assets
COMMON STOCKS
Aerospace & Defense
5,000	Curtiss-Wright Corporation			$      873,950
2,000	Lockheed Martin Corporation			948,520
1,600	Northrop Grumman Corporation			742,576
				2,565,046		5.44%
Banks
7,500	First Republic Bank			922,575		1.96%
Beverages
9,000	The Coca-Cola Company			535,590
1,700	Constellation Brands, Inc. - Class A			380,290
				915,880		1.94%
Capital Markets
1,150	Blackrock  Inc.			792,845
6,400	Blackstone, Inc.			581,120
				1,373,965		2.91%
Chemicals
5,000	Linde PLC (United Kingdom)			1,741,850		3.70%
Commercial Services & Supplies
1,000	Cintas Corporation			438,470		0.93%
Construction & Engineering
20,000	Granite Construction Incorporated			864,000		1.83%
Crude Petroleum & Natural Gas
16,000	Diamondback Energy, Inc.			2,249,280
8,000	Pioneer Natural Resources Company			1,603,280
				3,852,560		8.17%
Electric Utilities
23,000	Constellation Energy Corp.			1,722,470
6,100	NextEra Energy, Inc.			433,283
				2,155,753		4.57%
Electrical Equipment
14,000	Emerson Electric Co.			1,157,940		2.46%
Electronic Computers
6,000	Apple Inc.			884,460		1.88%
Fabricated Plate Work (Boiler Shops)
11,000	Chart Industries, Inc. *			1,468,500		3.12%
Farm Machinery & Equipment
4,300	Deere & Co.			1,802,732		3.82%
Health Care Equipment & Supplies
11,400	Edwards Lifesciences Corporation *			917,016		1.95%
Health Care Providers & Services
4,800	McKesson Corporation			1,679,088
850	UnitedHealth Group Incorporated			404,549
				2,083,637		4.42%
Industrial Conglomerates
6,500	Honeywell International Inc.			1,244,620		2.64%
Internet & Direct Marketing Retail
12,000	Alphabet, Inc. - Class A *			1,080,720
9,600	Amazon.com, Inc. *			904,608
				1,985,328		4.21%
IT Services
3,650	Accenture PLC - Class A (United Kingdom)			969,258		2.06%
Life Sciences Tools & Services
1,500	Thermo Fisher Scientific Inc.			812,640		1.72%
Multiline Retail
5,000	Target Corporation			842,500
3,400	Walmart Inc.			483,242
				1,325,742		2.81%
Oil, Gas & Consumable Fuels
5,000	Cheniere Energy, Inc.			786,700		1.67%
Retail - Catalog & Mail-Order Houses
2,000	CDW Corporation			404,840		0.86%
Retail - Eating Places
1,800	McDonald's Corporation			475,038		1.01%
Semiconductors & Semiconductor Equipment
5,000	Applied Materials, Inc.			580,750
1,000	ASML Holding N.V. **			617,730
5,000	Enphase Energy Inc. *			1,052,650
				2,251,130		4.78%
Software
5,500	Microsoft Corporation			1,371,810
5,000	Palo Alto Networks, Inc. *			941,850
				2,313,660		4.91%
Trading Companies & Distributors
700	W.W. Grainger, Inc.			467,901		0.99%
Transportation Services
22,000	GXO Logistics, Inc. *			1,090,540		2.31%
Total for Common Stocks (Cost $31,836,573)				37,271,780		79.07%
EXCHANGE TRADED FUNDS
Equity Funds
3,300	Invesco S&P 500® Equal Weight ETF			483,780
28,000	iShares® U.S. MSCI Global Metals & Mining Producers ETF			1,191,400
8,500	SPDR® S&P® Oil & Gas Exploration & Production ETF			1,130,245
10,000	The Health Care Select Sector SPDR® Fund ETF			1,271,700
46,000	VanEck Gold Miners ETF			1,265,460
2,000	VanEck Semiconductors ETF			478,800
Total for Exchange Traded Funds (Cost $5,645,690)				5,821,385		12.35%
MONEY MARKET FUNDS
4,022,147	First American Treasury Obligations Fund -  Class X 4.48% ***			4,022,147		8.53%
	(Cost - $4,022,147)
	Total Investments			47,115,312		99.95%
	(Cost - $41,504,410)
	Other Assets in Excess of Liabilities			21,520		0.05%
	Net Assets			$  47,136,832		100.00%
* Non-Income Producing Security.
** ADR - American Depositary Receipt.
*** The Yield shown represents the 7-day yield at February 28, 2023.
1. SECURITY TRANSACTIONS
For Federal income tax purposes, the cost of securities owned at February 28, 2023, was $41,504,410. At February 28, 2023, the composition of gross unrealized appreciation (the excess of value over tax cost) and depreciation (the excess of tax cost over value) of investments was as follows:
		Unrealized Appreciation		$   7,584,992
		Unrealized Depreciation		(1,974,090)
		Unrealized Appreciation		$   5,610,902
2. SECURITIES VALUATIONS
The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:
Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
Level 2 – Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument in an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
Level 3 – Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in level 3.
The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.
FAIR VALUE MEASUREMENTS
A description of the valuation techniques applied to the Fund’s major categories of assets measured at fair value on a recurring basis follows.
Equity securities (common stocks, including ADRs and ETFs). Equity securities generally are valued by using market quotations but may be valued on the basis of prices furnished by a pricing service when the Valuation Designee believes such prices accurately reflect the fair market value of such securities. Securities that are traded on any stock exchange or on the NASDAQ over-the-counter market are generally valued by the pricing service at the last quoted sale price on the primary exchange or market on which the security trades. Lacking a last sale price, an equity security is generally valued by the pricing service at its last bid price. In the event of a short sale of an equity security, lacking a last sale price, an equity security is generally valued by the pricing service at its last ask price. Generally, if the security is traded in an active market and is valued at the last sale price, the security is categorized as a level 1 security, and if an equity security is valued by the pricing service at its last bid (or ask in the event of a short sale of an equity security), it is generally categorized as a level 2 security. When market quotations are not readily available or when the Valuation Designee determines that the market quotation or the price provided by the pricing service does not accurately reflect the current market value, or when restricted or illiquid securities are being valued, such securities are valued pursuant to the fair value pricing procedures.
Money market funds. Shares of money market funds are valued at net asset value provided by the underlying fund and are classified in level 1 of the fair value hierarchy.
In accordance with the Trust’s good faith pricing guidelines, the Valuation Committee, which includes the Valuation Designee, shall consider all appropriate factors relevant to the value of securities for which market quotations are not readily available. There is no single standard for determining fair value, since fair value depends upon the circumstances of each individual case. As a general principle, the current fair value of an issue of securities being valued by the Valuation Committee would appear to be the price at which the security could reasonably be sold in a current market transaction. Methods which are in accordance with this principle may, for example, be based on (i) a multiple of earnings; (ii) a discount from market of a similar freely traded security (including a derivative security or a basket of securities traded on other markets, exchanges or among dealers); or (iii) yield to maturity with respect to debt issues, or a combination of these and other methods.
The following table summarizes the inputs used to value the Fund’s assets measured at fair value as of February 28, 2023:
Valuation of Inputs and Assets		Level 1	Level 2	Level 3		Total
Common Stocks		$  37,271,780	$                 -	$                 -		$  37,271,780
Exchange Traded Funds		5,821,385	-	-		5,821,385
Money Market Funds		4,022,147	-	-		4,022,147
Total		$  47,115,312	$                 -	$                 -		$  47,115,312
Refer to the Fund's Schedule of Investments for a listing of securities by industry. The Fund did not hold any Level 3 assets or liabilities during the fiscal quarter ended February 28, 2023.