Objective ABC Fundamental-Value Fund searches for fundamentally attractive North American equities. The primary objective of the Fund is to seek long‐term capital appreciation by investing in a diversified portfolio of all-capitalization Canadian and American common stocks. Our focused fundamental research seeks North American equities with appealing valuations, increasing dividend income and growth potential. Portfolio Holdings – June 30, 2023 CASH0.8% Cash – CAD0.8% Cash – USD0.0% FINANCIAL SERVICES12.6% Bank of Montreal1.2% Brookfield Asset Management Ltd.0.6% Brookfield Corp.2.3% Canadian Imperial Bank of Commerce0.8% National Bank of Canada1.8% Royal Bank of Canada2.1% S&P Global Inc. US1.9% The Toronto-Dominion Bank1.9% REAL ESTATE3.7% First Capital REIT0.7% Granite REIT1.2% Minto Apartment REIT1.8% ENERGY3.2% Enbridge Inc.1.5% Pembina Pipeline Corp.0.7% TC Energy Corp.1.0% CONSUMER DISCRETIONARY5.6% Amazon.com Inc. US5.6% COMMUNICATIONS9.3% Activision Blizzard Inc. US1.0% Alphabet Inc., Class A US4.9% Meta Platforms Inc. US3.4% INDUSTRIAL PRODUCTS9.2% Canadian National Railway1.9% Canadian Pacific Kansas City Ltd.2.8% Carrier Global Corp. US0.5% Honeywell International Inc. US1.0% Otis Worldwide Corp. US0.5% Raytheon Technologies Corp. US0.5% Waste Connections Inc.0.4% Waste Management Inc. US1.6% HEALTH CARE11.3% Becton, Dickinson and Co. US2.0% Boston Scientific Corp. US2.8% Danaher Corp. US1.0% Thermo Fisher Scientific Inc. US3.3% Zoetis Inc. US2.2% TECHNOLOGY43.0% Adobe Systems Inc. US1.2% Advanced Micro Devices Inc. US0.7% Apple Inc. US9.5% ASML Holding ADR US4.6% Autodesk Inc. US2.2% Mastercard Inc., Class A US2.7% Microsoft Corp. US8.7% NVIDIA Corp. US6.3% ServiceNow Inc. US4.1% Visa Inc., Class A US3.0% UTILITY1.3% Algonquin Power & Utilities Corp.1.3% Sector Breakdown Geographic Breakdown The ABC Fundamental-Value Fund has a minimum initial investment of $25,000.
