Portfolio

MOATX::Investor Shares

CASTX::Class C Shares

Castle Focus Fund Logo

Sector Weightings (%)1

As of 6/30/19

Sector Fund S&P 500
Cash & Cash Equivalents2 30.43 0.00
Financials 20.28 13.10
Consumer Discretionary 11.21 10.20
Materials 8.89 2.80
Energy 7.79 5.00
Health Care 7.22 14.20
Consumer Staples 6.12 7.30
Utilities 4.01 3.30
Real Estate 3.13 3.10
Industrials 0.92 9.40
Information Technology 0 21.50
Communication Services 0 10.20

Top Ten Holdings (%)1

As of 6/30/19

Cash & Cash Equivalents2 30.43
Enbridge Inc. (Canada) 5.07
Brookfield Asset Management, Inc. (Canada) 4.75
Sanofi SA ADR (France) 4.68
Loews Corporation 4.49
Royal Gold, Inc. 4.43
Berkshire Hathaway, Inc. Class B 4.24
Dominion Energy, Inc. 4.01
Liberty Global plc (UK) 3.90
Anheuser-Busch InBev SA/NV -ADR 3.29

Fund Data

As of 6/30/19

Total Net Assets $115.6M
Inception Date 6/30/10
Number of Holdings 25
Distribution Frequency Annually
Ticker – Investor Class
Ticker – Class C
MOATX
CASTX
Benchmark S&P 500 TR

Portfolio Characteristics3

For the five years ending 6/30/19

Alpha -0.99
Beta 0.53
Standard Deviation 7.33
Up Capture 53.36
Down Capture 58.58
R Squared 75.46

1. Percent of Fund’s total net assets

2. Represents cash equivalents and other assets less liabilities

3. Alpha measures the excess return of an investment vehicle, such as a mutual fund, relative to the return of its benchmark, given its level of risk (as measured by beta). Beta is a measure of the portfolios sensitivity to the market. Standard deviation is use to measure an investment’s historic volatility. The up capture and down capture ratios are statistical measures of a manager’s overall performance in upward moving and downward moving markets, respectively. R-Squared is a statistical measure that represents the percentage of a fund or security’s movements that can be explained by movements in a benchmark index.