Edgar Lomax Value Fund | |||||||
Schedule of Investments | |||||||
July 31, 2021 (Unaudited) | |||||||
Shares | COMMON STOCKS - 97.15% | Value | |||||
Beverage and Tobacco Product Manufacturing - 2.96% | |||||||
3,850 | Altria Group, Inc. | $ | 184,954 | ||||
49,650 | Coca-Cola Co. | 2,831,539 | |||||
3,016,493 | |||||||
Broadcasting (except Internet) - 1.45% | |||||||
25,150 | Comcast Corp. - Class A | 1,479,574 | |||||
Building Material and Garden Equipment - 2.46% | |||||||
5,000 | Home Depot, Inc. | 1,640,950 | |||||
4,500 | Lowe's Cos., Inc. | 867,105 | |||||
2,508,055 | |||||||
Chemical Manufacturing - 15.69% | |||||||
17,700 | AbbVie, Inc. | 2,058,510 | |||||
8,700 | Amgen, Inc. | 2,101,398 | |||||
9,400 | Bristol-Myers Squibb Co. | 637,978 | |||||
7,000 | Colgate-Palmolive Co. | 556,500 | |||||
10,450 | Dow, Inc. | 649,572 | |||||
9,950 | Gilead Sciences, Inc. | 679,485 | |||||
14,100 | Johnson & Johnson | 2,428,020 | |||||
35,800 | Merck & Co., Inc. | 2,751,946 | |||||
3,580 | Organon & Co. | 103,856 | |||||
48,952 | Pfizer, Inc. | 2,095,635 | |||||
13,600 | Procter & Gamble Co. | 1,934,328 | |||||
15,997,228 | |||||||
Computer and Electronic Product Manufacturing - 6.12% | |||||||
75,950 | Cisco Systems, Inc. | 4,205,352 | |||||
18,400 | Intel Corp. | 988,448 | |||||
5,500 | Texas Instruments, Inc. | 1,048,410 | |||||
6,242,210 | |||||||
Credit Intermediation and Related Activities - 3.47% | |||||||
13,800 | Bank of New York Mellon Corp. | 708,354 | |||||
9,250 | Capital One Financial Corp. | 1,495,725 | |||||
9,450 | Citigroup, Inc. | 639,009 | |||||
12,400 | U.S. Bancorp | 688,696 | |||||
3,531,784 | |||||||
Electrical Equipment, Appliance, and Component Manufacturing - 1.50% | |||||||
15,150 | Emerson Electric Co. | 1,528,483 | |||||
Food Manufacturing - 1.62% | |||||||
14,050 | Kraft Heinz Co. | 540,503 | |||||
17,600 | Mondelez International, Inc. - Class A | 1,113,376 | |||||
1,653,879 | |||||||
General Merchandise Stores - 2.86% | |||||||
4,000 | Target Corp. | 1,044,200 | |||||
13,150 | Walmart, Inc. | 1,874,532 | |||||
2,918,732 | |||||||
Health and Personal Care Stores - 8.48% | |||||||
58,300 | CVS Health Corp. | 4,801,588 | |||||
81,450 | Walgreens Boots Alliance, Inc. | 3,840,368 | |||||
8,641,956 | |||||||
Insurance Carriers and Related Activities - 12.99% | |||||||
33,300 | Allstate Corp. | 4,330,665 | |||||
15,450 | American International Group, Inc. | 731,558 | |||||
89,950 | MetLife, Inc. | 5,190,115 | |||||
2,200 | Travelers Cos., Inc. | 327,624 | |||||
6,450 | UnitedHealth Group, Inc. | 2,658,819 | |||||
13,238,781 | |||||||
Merchant Wholesalers, Durable Goods - 2.23% | |||||||
11,500 | 3M Co. | 2,276,310 | |||||
Petroleum and Coal Products Manufacturing - 8.20% | |||||||
37,700 | Chevron Corp. | 3,838,237 | |||||
12,050 | ConocoPhillips | 675,523 | |||||
66,850 | Exxon Mobil Corp. | 3,848,555 | |||||
8,362,315 | |||||||
Professional, Scientific, and Technical Services - 2.20% | |||||||
15,900 | International Business Machines Corp. | 2,241,264 | |||||
Publishing Industries (except Internet) - 1.75% | |||||||
20,500 | Oracle Corp. | 1,786,370 | |||||
Rail Transportation - 2.31% | |||||||
10,750 | Union Pacific Corp. | 2,351,670 | |||||
Real Estate - 0.85% | |||||||
6,850 | Simon Property Group, Inc. | 866,662 | |||||
Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 3.66% | |||||||
1,000 | BlackRock, Inc. | 867,170 | |||||
5,000 | Goldman Sachs Group, Inc. | 1,874,400 | |||||
10,350 | Morgan Stanley | 993,393 | |||||
3,734,963 | |||||||
Telecommunications - 5.31% | |||||||
83,800 | AT&T, Inc. | 2,350,590 | |||||
54,850 | Verizon Communications, Inc. | 3,059,533 | |||||
5,410,123 | |||||||
Transportation Equipment Manufacturing - 3.70% | |||||||
16,200 | General Dynamics Corp. | 3,175,686 | |||||
1,600 | Lockheed Martin Corp. | 594,672 | |||||
3,770,358 | |||||||
Utilities - 7.34% | |||||||
16,300 | Duke Energy Corp. | 1,713,293 | |||||
57,100 | Exelon Corp. | 2,672,280 | |||||
35,250 | Kinder Morgan, Inc. | 612,645 | |||||
11,900 | NextEra Energy, Inc. | 927,010 | |||||
24,450 | Southern Co. | 1,561,622 | |||||
7,486,850 | |||||||
TOTAL COMMON STOCKS (Cost $90,061,091) | 99,044,060 | ||||||
MONEY MARKET FUND - 2.77% | |||||||
2,823,098 | Invesco STIT-Treasury Portfolio - Institutional Class, 0.01% (a) | 2,823,098 | |||||
TOTAL MONEY MARKET FUND (Cost $2,823,098) | 2,823,098 | ||||||
Total Investments in Securities (Cost $92,884,189) - 99.92% | 101,867,158 | ||||||
Other Assets in Excess of Liabilities - 0.08% | 81,969 | ||||||
TOTAL NET ASSETS - 100.00% | $ | 101,949,127 | |||||
(a) | Rate shown is the 7-day annualized yield as of July 31, 2021. |
Edgar Lomax Value Fund | |||||||||
Summary of Fair Value Disclosure at July 31, 2021 (Unaudited) | |||||||||
The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. Accounting principles generally accepted in the United | |||||||||
States of America ("U.S. GAAP") establish 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 on 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 following is a summary of the inputs used to value the Fund's investments as of July 31, 2021: | |||||||||
Edgar Lomax Value Fund | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks | ||||||||||||||||
Finance and Insurance | $ | 19,009,803 | $ | - | $ | - | $ | 19,009,803 | ||||||||
Information | 5,616,534 | - | - | 5,616,534 | ||||||||||||
Management of Companies and | ||||||||||||||||
Enterprises | 1,495,725 | - | - | 1,495,725 | ||||||||||||
Manufacturing | 38,333,516 | - | - | 38,333,516 | ||||||||||||
Mining, Quarrying, and Oil and Gas | ||||||||||||||||
Extraction | 675,523 | - | - | 675,523 | ||||||||||||
Professional, Scientific, and | ||||||||||||||||
Technical Services | 2,241,264 | - | - | 2,241,264 | ||||||||||||
Real Estate | 866,662 | - | - | 866,662 | ||||||||||||
Retail Trade | 20,966,513 | - | - | 20,966,513 | ||||||||||||
Transportation and Warehousing | 2,351,670 | - | - | 2,351,670 | ||||||||||||
Utilities | 7,486,850 | - | - | 7,486,850 | ||||||||||||
Total Common Stocks | 99,044,060 | - | - | 99,044,060 | ||||||||||||
Money Market Fund | 2,823,098 | - | - | 2,823,098 | ||||||||||||
Total Investments in Securities | $ | 101,867,158 | $ | - | $ | - | $ | 101,867,158 | ||||||||
Refer to the Fund’s schedule of investments for a detailed break-out of common stocks by industry classification. |