Additional disclosure: IMPORTANT INFORMATION FOR INVESTORS
As of 6-30-22, the holding percentages of the stocks mentioned in this commentary are as follows; Pioneer Natural Resources Co. (6.5%), Chevron Corporation (5.5%), Haemonetics Corp. (4.0%), Texas Pacific Land Corporation (12.3%), Bowlero Corp. (1.7%), Purple Innovation, Inc. (0.9%), eDreams ODIEGO ADR (0.6%), A.O. Smith Corporation (1.4%), Mirion Technologies, Inc. (2.6%), Chesapeake Energy Corporation (2.6%) and The St. Joe Company (0.8%). Fund holdings are subject to change and should not be considered purchase recommendations. There is no assurance that the securities mentioned remain in the Fund’s portfolio or that securities sold have not been repurchased. The Fund’s top ten holdings as of 6-30-22: Texas Pacific Land Corporation (12.3%), Pioneer Natural Resources Co. (6.5%), Chevron Corporation (5.5%), Haemonetics Corporation (4.0%), Vontier Corporation (3.7%), Franco Nevada Corporation (3.6%), CME Group, Inc. (3.4%), Valvoline, Inc. (3.1%), Schlumberger Limited (3.1%) and Alcon, Inc. (3.1%). The most current available data regarding portfolio holdings can be found on our website, www.avemariafunds.com. Current and future portfolio holdings are subject to risk.
The Adviser invests only in securities that meet the Fund’s investment and religious requirements. The returns may be lower or higher than if decisions were based solely on investment considerations. The method of security selection may or may not be successful and the Fund may underperform or outperform the stock market as a whole. All mutual funds are subject to market risk, including possible loss of principal. The Fund’s investments in small- and mid-capitalization companies could experience greater volatility than investments in large-capitalization companies. The investment performance assumes reinvestment of dividends and capital gains distributions. Performance data reflects certain fee waivers and reimbursements. Without such waivers, performance would have been lower. The S&P 400® Midcap Index is an unmanaged index created by Standard & Poor’s made up of 400 midcap companies. The index is the most widely used index for mid-sized companies. Indexes do not incur fees and it is not possible to invest directly in an index.
Request a prospectus, which includes investment objectives, risks, fees, charges and expenses and other information that you should read and consider carefully before investing. The prospectus can be obtained by calling 1-866-283-6274 or online at www.avemariafunds.com. Distributed by Ultimus Fund Distributors, LLC.
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