BLUE CURRENT GLOBAL DIVIDEND FUND | ||||
SCHEDULE OF INVESTMENTS | ||||
May 31, 2021 (Unaudited) | ||||
COMMON STOCKS - 95.9% | Shares | Value | ||
Communications - 4.0% | ||||
Entertainment Content - 2.5% | ||||
Vivendi SE (a) | 34,370 | $ 1,251,650 | ||
Telecommunications - 1.5% | ||||
Vodafone Group plc - ADR | 42,500 | 784,975 | ||
Consumer Discretionary - 2.8% | ||||
Apparel & Textile Products - 2.8% | ||||
LVMH Moet Hennessy Louis Vuitton SE (a) | 1,803 | 1,444,160 | ||
Consumer Staples - 13.2% | ||||
Beverages - 7.3% | ||||
Coca-Cola Company (The) | 18,665 | 1,031,988 | ||
Coca-Cola European Partners plc | 20,430 | 1,236,423 | ||
Diageo plc - ADR | 7,671 | 1,482,421 | ||
3,750,832 | ||||
Food - 2.6% | ||||
Nestlé S.A. - ADR | 11,050 | 1,366,554 | ||
Household Products - 1.9% | ||||
Unilever plc - ADR | 16,320 | 978,710 | ||
Wholesale - Consumer Staples - 1.4% | ||||
Bunge Ltd. | 8,075 | 701,072 | ||
Energy - 4.3% | ||||
Oil & Gas Producers - 4.3% | ||||
BP plc (a) | 300,000 | 1,306,779 | ||
Kinder Morgan, Inc. | 48,315 | 886,097 | ||
2,192,876 | ||||
Financials - 18.2% | ||||
Banking - 6.4% | ||||
Ing Groep N.V. - ADR | 78,000 | 1,089,660 | ||
JPMorgan Chase & Company | 13,308 | 2,185,706 | ||
3,275,366 |
BLUE CURRENT GLOBAL DIVIDEND FUND | ||||
SCHEDULE OF INVESTMENTS (Continued) | ||||
COMMON STOCKS - 95.9% (Continued) | Shares | Value | ||
Financials - 18.2% (Continued) | ||||
Institutional Financial Services - 6.4% | ||||
Morgan Stanley | 19,800 | $ 1,800,810 | ||
State Street Corporation | 17,100 | 1,487,358 | ||
3,288,168 | ||||
Insurance - 2.5% | ||||
Allianz SE (a) | 4,744 | 1,259,734 | ||
Specialty Finance - 2.9% | ||||
American Express Company | 9,345 | 1,496,415 | ||
Health Care - 17.5% | ||||
Biotech & Pharma - 7.5% | ||||
AstraZeneca plc - ADR | 24,700 | 1,402,219 | ||
Johnson & Johnson | 9,222 | 1,560,823 | ||
Novo Nordisk A/S - ADR | 11,500 | 907,350 | ||
3,870,392 | ||||
Medical Equipment & Devices - 10.0% | ||||
Abbott Laboratories | 8,240 | 961,196 | ||
EssilorLuxottica S.A. (a) | 7,820 | 1,357,679 | ||
Koninklijke Philips N.V. | 18,969 | 1,071,369 | ||
Medtronic plc | 13,770 | 1,743,145 | ||
5,133,389 | ||||
Industrials - 13.1% | ||||
Aerospace & Defense - 3.2% | ||||
Raytheon Technologies Corporation | 18,300 | 1,623,393 | ||
Commercial Support Services - 2.0% | ||||
Compass Group plc (a) (b) | 45,000 | 1,025,720 | ||
Machinery - 2.8% | ||||
Caterpillar, Inc. | 6,060 | 1,460,945 | ||
Transportation & Logistics - 5.1% | ||||
Deutsche Post AG (a) | 20,950 | 1,422,953 | ||
Union Pacific Corporation | 5,300 | 1,191,069 | ||
2,614,022 |
BLUE CURRENT GLOBAL DIVIDEND FUND | ||||
SCHEDULE OF INVESTMENTS (Continued) | ||||
COMMON STOCKS - 95.9% (Continued) | Shares | Value | ||
Materials - 4.7% | ||||
Chemicals - 4.7% | ||||
Air Liquide S.A. (a) | 5,487 | $ 933,087 | ||
CF Industries Holdings, Inc. | 11,565 | 614,911 | ||
Dow, Inc. | 12,715 | 869,960 | ||
2,417,958 | ||||
Real Estate - 2.6% | ||||
REITs - 2.6% | ||||
Crown Castle International Corporation | 7,065 | 1,338,817 | ||
Technology - 13.7% | ||||
Semiconductors - 9.8% | ||||
Broadcom, Inc. | 2,295 | 1,083,997 | ||
Intel Corporation | 12,000 | 685,440 | ||
QUALCOMM, Inc. | 8,979 | 1,208,035 | ||
Taiwan Semiconductor Manufacturing Company Ltd. - ADR | 8,030 | 942,401 | ||
Texas Instruments, Inc. | 5,800 | 1,100,956 | ||
5,020,829 | ||||
Software - 3.9% | ||||
Microsoft Corporation | 8,000 | 1,997,440 | ||
Utilities - 1.8% | ||||
Electric Utilities - 1.8% | ||||
NextEra Energy, Inc. | 12,400 | 907,928 | ||
Total Common Stocks (Cost $33,631,234) | $ 49,201,345 |
BLUE CURRENT GLOBAL DIVIDEND FUND | |||
SCHEDULE OF INVESTMENTS (Continued) | |||
MONEY MARKET FUNDS - 4.0% | Shares | Value | |
First American Government Obligations Fund - Class Z, 0.02% (c) (Cost $2,020,612) | 2,020,612 | $ 2,020,612 | |
Investments at Value - 99.9% (Cost $35,651,846) | $ 51,221,957 | ||
Other Assets in Excess of Liabilities - 0.1% | 67,805 | ||
Net Assets - 100.0% | $ 51,289,762 | ||
ADR | - American Depositary Receipt |
(a) | Despite the availability of a closing price, security has been fair valued by an independent pricing service and is therefore classified as a Level 2 security within the fair value hierarchy. |
(b) | Non-income producing security. |
(c) | The rate shown is the 7-day effective yield as of May 31, 2021. |
BLUE CURRENT GLOBAL DIVIDEND FUND | ||
SUMMARY OF COMMON STOCKS BY COUNTRY | ||
May 31, 2021 (Unaudited) | ||
Country | Value | % of Net Assets |
United States | $ 25,493,284 | 49 .7% |
United Kingdom | 8,217,247 | 16 .0% |
France | 4,986,576 | 9 .7% |
Germany | 2,682,687 | 5 .2% |
Netherlands | 2,161,029 | 4 .2% |
Ireland | 1,743,145 | 3 .4% |
Switzerland | 1,366,554 | 2 .7% |
Taiwan Province of China | 942,401 | 1 .8% |
Denmark | 907,350 | 1 .8% |
Bermuda | 701,072 | 1 .4% |
$ 49,201,345 | 95 .9% |