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Additional disclosure: IMPORTANT INFORMATION FOR INVESTORS
As of 6-30-22, the holding percentages of the stocks mentioned in this commentary are as follows: Change Healthcare, Inc. (no longer held), Texas Pacific Land Corporation (0.9%), IQVIA Holdings, Inc. (3.3%), Brookfield Asset Management, Inc. (4.2%), Medtronic PLC (no longer held), Purple Innovation, Inc. (1.2%), API Group Corporation (3.5%), Copart, Inc. (6.4%), Microsoft Corporation (6.1%), S&P Global, Inc.(4.3%), Adobe, Inc. (3.1%), Advanced Micro Devices, Inc. (3.5%), Avalara, Inc. (0.4%), Chesapeake Energy Corporation (2.3%) and Restoration Hardware (0.4%). 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: Copart, Inc. (6.4%), Microsoft Corporation (6.1%), Texas Instruments, Inc. (6.1%), Visa, Inc. Class A (5.9%), Mastercard Incorporated (5.9%), AptarGroup, Inc. (4.4%), S&P Global, Inc. (4.3%), O’Reilly Automotive, Inc. (4.2%), Brookfield Asset Management, Inc. (4.2%) and HEICO Corporation – Class A (4.2%). 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 500® Index is a capitalization weighted unmanaged index of 500 widely traded stocks, created by Standard & Poor’s. The index is considered to represent the performance of the stock market in general. 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.
© Ave Maria Mutual Funds
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