MOATX::Investor Shares

CASTX::Class C Shares

Castle Focus Fund Logo

Sector Weightings (%)1

As of 6/30/23

Sector Fund S&P 500
Financials 18.82 12.40
Materials 16.8 2.50
Exchange Traded Funds 15.64 0.00
Health Care 8.98 13.40
Consumer Staples 8.45 6.70
Cash & Cash Equivalents2 7.60 0.00
Communication Services 7.50 8.40
Energy 7.04 4.10
Real Estate 3.80 2.50
Information Technology 3.58 28.30
Consumer Discretionary 1.79 10.70
Industrials 0.00 8.50
Utilities 0.00 2.60

Top Ten Holdings (%)1

As of 6/30/23

Berkshire Hathaway, Inc. – Class B 10.07
Goldman Sachs Access Treasury 0-1 Year ETF 8.16
Cash & Cash Equivalents2 7.60
SPDR Bloomberg 1-3 Month T-Bill ETF 7.48
Agnico Eagle Mines Limited (Canada) 6.62
Loews Corporation 5.56
DuPont de Nemours, Inc. 5.24
Merck & Co., Inc. 4.94
Unilever PLC ADR 4.67
Comcast Corporation – Class A 4.32

Fund Data

As of 6/30/23

Total Net Assets $24.5M
Inception Date 6/30/10
Equity Positions 21
Distribution Frequency Annually
Ticker – Investor Class
Ticker – Class C
Benchmark S&P 500

Portfolio Characteristics3

For the five years ending 6/30/23

Alpha -3.16
Beta 0.65
Standard Deviation 13.80
Up Capture 58.00
Down Capture 66.00
R Squared 76.90

1. Percent of Fund’s total net assets

2. Represents cash equivalents, short-term U.S. Government securities and other assets in excess of 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.

The investment objectives, risks, charges and expenses of Castle mutual funds must be considered carefully before investing. The prospectus for each Fund contains this and other important information about the investment company, and it may be obtained by calling 1-877-743-7820, or visiting www.castleim.com. Read it carefully before investing.

Distributed by Arbor Court Capital, LLC – Member FINRA / SIPC.