Utah Medical Products, Inc.

0001752724-23-273996.txt : 20231129 0001752724-23-273996.hdr.sgml : 20231129 20231129150314 ACCESSION NUMBER: 0001752724-23-273996 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230930 FILED AS OF DATE: 20231129 DATE AS OF CHANGE: 20231129 PERIOD START: 20240630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JAMES ADVANTAGE FUNDS CENTRAL INDEX KEY: 0001045487 IRS NUMBER: 000000000 STATE OF INCORPORATION: OH FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-08411 FILM NUMBER: 231451560 BUSINESS ADDRESS: STREET 1: 1349 FAIRGROUND RD CITY: BEAVERCREEK STATE: OH ZIP: 45385 BUSINESS PHONE: 9374267640 MAIL ADDRESS: STREET 1: 1349 FAIRGROUND RD CITY: BEAVERCREEK STATE: OH ZIP: 45385 FORMER COMPANY: FORMER CONFORMED NAME: JAMES FUNDS DATE OF NAME CHANGE: 19970904

0001045487 S000029269 JAMES MICRO CAP FUND

C000090023 JAMES MICRO CAP FUND JMCRX

NPORT-P 1 primary_doc.xml NPORT-P false 0001045487 XXXXXXXX S000029269 C000090023 JAMES ADVANTAGE FUNDS 811-08411 0001045487 549300426TIVT528ZP40 225 Pictoria Drive, Suite 450 Cincinnati 45246 513-587-3400 JAMES MICRO CAP FUND S000029269 54930055PPLE24Z31O86 2024-06-30 2023-09-30 N 23029055.74 31025.32 22998030.42 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0 N Utah Medical Products Inc. 5493002R27BBGV8DID60 Utah Medical Products, Inc. 917488108 4200.00000000 NS USD 361200.00000000 1.570569276601 Long EC CORP US N 1 N N N Cohu Inc 529900FJPORJ3JJ2XS33 Cohu, Inc. 192576106 8022.00000000 NS USD 276277.68000000 1.201310177239 Long EC CORP US N 1 N N N Arcbest Corporation 5493006S3KBNE8ZS3J23 ArcBest Corporation 03937C105 5285.00000000 NS USD 537220.25000000 2.335940253095 Long EC CORP US N 1 N N N Innospec Inc 213800SQBACNY5IWJO68 Innospec, Inc. 45768S105 4000.00000000 NS USD 408800.00000000 1.777543522355 Long EC CORP US N 1 N N N Potlatchdeltic Corp. 54930084YA8UJOTXDM59 PotlatchDeltic Corporation REIT 737630103 7517.00000000 NS USD 341196.63000000 1.483590654368 Long EC CORP US N 1 N N N Shyft Group Inc. 549300YY0TB51BGRV994 Shyft Group, Inc. (The) 825698103 6336.00000000 NS USD 94849.92000000 0.412426274197 Long EC CORP US N 1 N N N Patrick Inds Inc 549300FZ5ZTCCJ3Z5W14 Patrick Industries, Inc. 703343103 4044.00000000 NS USD 303542.64000000 1.319863633783 Long EC CORP US N 1 N N N Integer Holdings Corporation 549300SUD2ED5XG6X569 Integer Holdings Corporation 45826H109 6396.00000000 NS USD 501638.28000000 2.181222786642 Long EC CORP US N 1 N N N PC Connection Inc. 5299005WPRNIXDV2KM73 PC Connection, Inc. 69318J100 12184.00000000 NS USD 650381.92000000 2.827989650080 Long EC CORP US N 1 N N N Century Communities Inc 5299002QMB2O7ZL1CA26 Century Communities, Inc. 156504300 4662.00000000 NS USD 311328.36000000 1.353717489343 Long EC CORP US N 1 N N N Donnelley Financial Solutions Inc 549300O1NPY4J56QCU04 Donnelley Financial Solutions, Inc. 25787G100 20288.00000000 NS USD 1141808.64000000 4.964810547459 Long EC CORP US N 1 N N N M/I Homes Inc. 5299005M71FH9CCSFB69 M/I Homes, Inc. 55305B101 4742.00000000 NS USD 398517.68000000 1.732833954569 Long EC CORP US N 1 N N N Nelnet Inc. 549300T6B0Q52I6OM558 Nelnet, Inc. Class A 64031N108 5646.00000000 NS USD 504300.72000000 2.192799604097 Long EC CORP US N 1 N N N Marinemax Inc 254900TIXTN8WY3FNN63 MarineMax, Inc. 567908108 5750.00000000 NS USD 188715.00000000 0.820570268643 Long EC CORP US N 1 N N N Standard Motor Products, Inc. THGK1EO5B5HK0JHQVZ90 Standard Motor Products, Inc. 853666105 5625.00000000 NS USD 189112.50000000 0.822298677523 Long EC CORP US N 1 N N N United States Treasury Bills 254900HROIFWPRGM1V77 U.S. Treasury Bill 0.000%, Due 01/25/2024 912796ZY8 900000.00000000 PA USD 884757.47000000 3.847101051012 Long DBT UST US N 2 2024-01-25 None 0.00000000 N N N N N N Schnitzer Steel Industries Inc. 549300F62TK8VRDSM285 Schnitzer Steel Industries, Inc. Class A 806882106 18045.00000000 NS USD 502553.25000000 2.185201257769 Long EC CORP US N 1 N N N Selecta Biosciences Inc. 529900NMN0LACZOL7C43 Selecta Biosciences, Inc. 816212104 94737.00000000 NS USD 100421.22000000 0.436651392167 Long EC CORP US N 1 N N N Vishay Precision Group Inc. N/A Vishay Precision Group, Inc. 92835K103 6384.00000000 NS USD 214374.72000000 0.932143823123 Long EC CORP US N 1 N N N Iradimed Corp. 549300YVHWP0YJ1YW816 Iradimed Corporation 46266A109 2400.00000000 NS USD 106488.00000000 0.463030955500 Long EC CORP US N 1 N N N Civitas Resources Inc IIVIHPH28S64K95M2381 Civitas Resources, Inc. 17888H103 7254.00000000 NS USD 586630.98000000 2.550787912211 Long EC CORP US N 1 N N N Transcat Inc. 54930081E40TSSHUOS40 TRANSCAT, INC. 893529107 2200.00000000 NS USD 215534.00000000 0.937184602610 Long EC CORP US N 1 N N N ACCO Brands Corporation JCT8P4Y190IH4I1NX328 ACCO Brands Corporation 00081T108 74997.00000000 NS USD 430482.78000000 1.871824552530 Long EC CORP US N 1 N N N Federal Agricultural Mortgage Corporation 549300MS654K78GYF580 Federal Agricultural Mortgage Corporation 313148306 6912.00000000 NS USD 1066521.60000000 4.637447557563 Long EC USGA US N 1 N N N Vital Energy Inc 549300X0PTWU2QSLSL14 Vital Energy, Inc. 516806205 5814.00000000 NS USD 322211.88000000 1.401041194031 Long EC CORP US N 1 N N N ITeos Therapeutics Inc. N/A Anika Therapeutics, Inc. 46565G104 3964.00000000 NS USD 43405.80000000 0.188737031855 Long EC CORP US N 1 N N N Piper Sandler Companies QUQDBTUSOAKFEVMRMF78 Piper Sandler Companies 724078100 4960.00000000 NS USD 720737.60000000 3.133910108116 Long EC CORP US N 1 N N N Heidrick & Struggles International Inc 5493006284N2J367VB57 Heidrick & Struggles International, Inc. 422819102 3400.00000000 NS USD 85068.00000000 0.369892544911 Long EC CORP US N 1 N N N Central Garden & Pet Company 5493004DVZLD37DJ0H83 Central Garden & Pet Company Class A Non-Voting 153527205 13108.00000000 NS USD 525499.72000000 2.284977062831 Long EC CORP US N 1 N N N Merchants Bancorp. (Indiana) 5493003V2R4M1JXKDE59 Merchants Bancorp 58844R108 25704.00000000 NS USD 712514.88000000 3.098156089837 Long EC CORP US N 1 N N N Enova International Inc. 549300O8XOCQSB49UO63 Enova International, Inc. 29357K103 17016.00000000 NS USD 865603.92000000 3.763817614778 Long EC CORP US N 1 N N N Photronics Inc. 549300OK5JVNIBNY6F63 Photronics, Inc. 719405102 22198.00000000 NS USD 448621.58000000 1.950695654397 Long EC CORP US N 1 N N N Eplus Inc 529900FFY8AAFJ21NE91 ePlus, Inc. 294268107 4600.00000000 NS USD 292192.00000000 1.270508798639 Long EC CORP US N 1 N N N OFG Bancorp 549300Q4QEXJ37LEXQ06 OFG Bancorp 67103X102 25456.00000000 NS USD 760116.16000000 3.305135901285 Long EC CORP US N 1 N N N Insteel Industries Inc. 52990026LKY4MOX3L174 Insteel Industries, Inc. 45774W108 3500.00000000 NS USD 113610.00000000 0.493998824791 Long EC CORP US N 1 N N N Boise Cascade Co N/A Boise Cascade Company 09739D100 2500.00000000 NS USD 257600.00000000 1.120095918196 Long EC CORP US N 1 N N N Dorian LPG Ltd. 549300WP1W2WGMC7F395 DORIAN LPG LTD. Y2106R110 19032.00000000 NS USD 546789.36000000 2.377548642271 Long EC CORP US N 1 N N N Shoe Carnival Inc N/A Shoe Carnival, Inc. 824889109 12950.00000000 NS USD 311188.50000000 1.353109350309 Long EC CORP US N 1 N N N KforceCom Inc 5493003RDQQDVXY2SK46 Kforce, Inc. 493732101 2400.00000000 NS USD 143184.00000000 0.622592445462 Long EC CORP US N 1 N N N Cross Country Healthcare Inc. 54930037L0NBIPZ5S663 Cross Country Healthcare, Inc. 227483104 4213.00000000 NS USD 104440.27000000 0.454127019108 Long EC CORP US N 1 N N N Insight Enterprises Inc. 529900S8991TYW6YP792 Insight Enterprises, Inc. 45765U103 5663.00000000 NS USD 823966.50000000 3.582769850080 Long EC CORP US N 1 N N N Ingles Markets, Incorporated 549300XH5RYBMYP8TF26 Ingles Markets, Inc. Class A 457030104 10714.00000000 NS USD 807085.62000000 3.509368433994 Long EC CORP US N 1 N N N CRA International Inc. N/A CRA International, Inc. 12618T105 3384.00000000 NS USD 340971.84000000 1.482613222841 Long EC CORP US N 1 N N N Genco Shipping & Trading Ltd. 5493003MBZ5GU8QHXZ58 GENCO SHIPPING & TRADE LTD. Y2685T131 8000.00000000 NS USD 111920.00000000 0.486650369427 Long EC CORP US N 1 N N N Bancorp Inc N/A Bancorp, Inc. (The) 05969A105 6900.00000000 NS USD 238050.00000000 1.035088638690 Long EC CORP US N 1 N N N Kiniksa Pharmaceuticals Ltd. N/A Kiniksa Pharmaceuticals, Ltd. G5269C101 6909.00000000 NS USD 120009.33000000 0.521824381515 Long EC CORP US N 1 N N N Innoviva Inc 549300ACOX4QTBES6535 Innoviva, Inc. 45781M101 40082.00000000 NS USD 520665.18000000 2.263955523544 Long EC CORP US N 1 N N N Haverty Furniture Cos Inc 529900CVFMMIRXZVPD70 Haverty Furniture Companies, Inc. 419596101 21134.00000000 NS USD 608236.52000000 2.644733087538 Long EC CORP US N 1 N N N Eagle Pharmaceuticals Inc 549300TN20OLYTJVP152 Eagle Pharmaceuticals, Inc. 269796108 1650.00000000 NS USD 26020.50000000 0.113142297513 Long EC CORP US N 1 N N N Nova Ltd 529900B2DSWE5V3SC292 Nova Measuring Instruments Ltd. M7516K103 9143.00000000 NS USD 1028038.92000000 4.470117228412 Long EC CORP US N 1 N N N Heritage-Crystal Clean Inc. N/A Heritage-Crystal Clean, Inc. 42726M106 5000.00000000 NS USD 226750.00000000 0.985953996316 Long EC CORP US N 1 N N N V2X Inc N/A V2X, Inc. 92242T101 6950.00000000 NS USD 359037.00000000 1.561164123375 Long EC CORP US N 1 N N N First American Funds Inc. 549300J5J5SJCZ9IA369 First American Treasury Obligations Fund Class X 31846V328 310490.15000000 PA USD 310490.15000000 1.350072785928 Long STIV RF US N 1 N N N Clearway Energy Inc 549300LHAZ9HA9G3XC48 Clearway Energy, Inc. 18539C204 7332.00000000 NS USD 155145.12000000 0.674601768789 Long EC CORP US N 1 N N N Zumiez Inc. 549300J0PDF58P6HZD25 Zumiez, Inc. 989817101 4568.00000000 NS USD 81310.40000000 0.353553754452 Long EC CORP US N 1 N N N United States Lime & Minerals Inc. 549300VGDEEG8RT7VC89 United States Lime & Minerals, Inc. 911922102 2070.00000000 NS USD 416070.00000000 1.809154925015 Long EC CORP US N 1 N N N SIGA Technologies Inc. N/A SIGA TECHNOLOGIES, INC. 826917106 52400.00000000 NS USD 275100.00000000 1.196189390900 Long EC CORP US N 1 N N N 2023-11-28 Lesley Ott Lesley Ott Lesley Ott Chief Compliance Officer XXXX NPORT-EX 2 353_20230930.htm SOI

JAMES BALANCED: GOLDEN RAINBOW FUND
SCHEDULE OF INVESTMENTS
September 30, 2023 (Unaudited)

COMMON STOCKS - 46.9%	Shares	Value
Communication Services - 3.3%
Alphabet, Inc. - Class A ^(a)	72,807	$ 9,527,524
Meta Platforms, Inc. - Class A ^(a)	6,372	1,912,938
T-Mobile US, Inc. ^(a)	15,000	2,100,750
		13,541,212
Consumer Discretionary - 5.0%
Amazon.com, Inc. ^(a)	31,310	3,980,127
Capri Holdings Ltd. ^(a)	7,000	368,270
Deckers Outdoor Corporation ^(a)	1,300	668,317
Home Depot, Inc. (The)	16,000	4,834,560
Installed Building Products, Inc.	3,800	474,582
M/I Homes, Inc. ^(a)	20,189	1,696,684
McDonald's Corporation	23,800	6,269,872
Oxford Industries, Inc.	9,000	865,170
TJX Companies, Inc. (The)	15,000	1,333,200
		20,490,782
Consumer Staples - 3.7%
Casey's General Stores, Inc.	2,000	543,040
Nestlé S.A. - ADR	16,300	1,844,671
PepsiCo, Inc.	6,050	1,025,112
Procter & Gamble Company (The)	31,100	4,536,246
Sysco Corporation	35,125	2,320,006
Walmart, Inc.	30,000	4,797,900
		15,066,975
Energy - 2.8%
Chevron Corporation	37,320	6,292,897
ConocoPhillips	11,615	1,391,477
Exxon Mobil Corporation	11,375	1,337,473
Matador Resources Company	8,059	479,349
Pioneer Natural Resources Company	1,821	418,011
Valero Energy Corporation	10,032	1,421,635
		11,340,842
Financials - 5.5%
Arthur J. Gallagher & Company	12,488	2,846,390
Bancorp, Inc. (The) ^(a)	22,100	762,450
Berkshire Hathaway, Inc. - Class B ^(a)	7,007	2,454,552

JAMES BALANCED: GOLDEN RAINBOW FUND
SCHEDULE OF INVESTMENTS (Continued)

COMMON STOCKS - 46.9% (Continued)	Shares	Value
Financials - 5.5% (Continued)
BlackRock, Inc.	2,519	$ 1,628,508
Charles Schwab Corporation (The)	17,985	987,377
Enova International, Inc. ^(a)	63,000	3,204,810
Goldman Sachs Group, Inc. (The)	4,115	1,331,491
JPMorgan Chase & Company	30,926	4,484,889
LPL Financial Holdings, Inc.	10,000	2,376,499
MGIC Investment Corporation	13,819	230,639
Nelnet, Inc. - Class A	17,630	1,574,712
Regions Financial Corporation	50,350	866,020
		22,748,337
Health Care - 7.1%
Abbott Laboratories	19,650	1,903,103
AbbVie, Inc.	14,792	2,204,896
AstraZeneca plc - ADR	60,273	4,081,688
Danaher Corporation	9,000	2,232,900
Elevance Health, Inc.	3,467	1,509,601
Eli Lilly & Company	11,332	6,086,756
Johnson & Johnson	14,030	2,185,173
Pfizer, Inc.	23,967	794,985
Thermo Fisher Scientific, Inc.	6,000	3,037,020
UnitedHealth Group, Inc.	10,339	5,212,820
		29,248,942
Industrials - 4.4%
ABB Ltd. - ADR	31,656	1,126,637
Caterpillar, Inc.	10,762	2,938,026
Deere & Company	8,500	3,207,730
Eaton Corporation plc	19,768	4,216,119
Encore Wire Corporation	3,330	607,592
Generac Holdings, Inc. ^(a)	2,492	271,528
Lockheed Martin Corporation	2,220	907,891
Northrop Grumman Corporation	2,740	1,206,121
Union Pacific Corporation	8,562	1,743,480
United Rentals, Inc.	4,000	1,778,280
		18,003,404
Information Technology - 12.0%
Accenture plc - Class A	7,000	2,149,770

JAMES BALANCED: GOLDEN RAINBOW FUND
SCHEDULE OF INVESTMENTS (Continued)

COMMON STOCKS - 46.9% (Continued)	Shares	Value
Information Technology - 12.0% (Continued)
Apple, Inc.	54,000	$ 9,245,340
ASML Holding N.V.	2,740	1,612,928
Broadcom, Inc.	2,134	1,772,458
Cisco Systems, Inc.	23,171	1,245,673
Insight Enterprises, Inc. ^(a)	25,000	3,637,500
Jabil, Inc.	26,500	3,362,585
Mastercard, Inc. - Class A	9,000	3,563,190
Microsoft Corporation	44,954	14,194,225
Nova Ltd. ^(a)	22,432	2,522,254
NVIDIA Corporation	13,946	6,066,371
		49,372,294
Materials - 0.6%
Avery Dennison Corporation	8,000	1,461,360
Linde plc	1,757	654,219
Nucor Corporation	3,698	578,182
		2,693,761
Real Estate - 0.9%
American Tower Corporation	5,050	830,473
CBRE Group, Inc. - Class A ^(a)	14,100	1,041,426
Prologis, Inc.	16,000	1,795,360
		3,667,259
Utilities - 1.6%
Ameren Corporation	10,422	779,878
American Electric Power Company, Inc.	25,700	1,933,154
Iberdrola S.A. - ADR	20,100	899,274
NextEra Energy, Inc.	19,600	1,122,884
Sempra	26,800	1,823,204
		6,558,394

Total Common Stocks (Cost $127,766,073)		$ 192,732,202


EXCHANGE-TRADED FUNDS - 5.4%	Shares	Value
Consumer Discretionary Select Sector SPDR® Fund	17,300	$ 2,784,954
Invesco S&P SmallCap 600 Revenue ETF	90,000	3,277,800
iShares Gold Trust ^(a)	209,455	7,328,830

JAMES BALANCED: GOLDEN RAINBOW FUND
SCHEDULE OF INVESTMENTS (Continued)

EXCHANGE-TRADED FUNDS - 5.4% (Continued)	Shares	Value
iShares MSCI EAFE ETF	28,050	$ 1,933,206
iShares Russell 2000 ETF	30,000	5,302,200
Technology Select Sector SPDR® Fund	9,000	1,475,370
Total Exchange-Traded Funds (Cost $19,301,932)		$ 22,102,360


CORPORATE BONDS - 7.5%	Par Value	Value
Communication Services - 0.2%
AT&T, Inc., 2.950%, due 07/15/26	$ 1,000,000	$ 929,019

Consumer Discretionary - 0.2%
Ross Stores, Inc., 4.700%, due 04/15/27	1,000,000	962,030

Consumer Staples - 0.5%
Walmart, Inc., 5.250%, due 09/01/35	2,000,000	2,003,213

Energy - 0.2%
BP Capital Markets America, Inc., 4.234%, due 11/06/28	1,000,000	950,861

Financials - 2.7%
Bank of America Corporation,
1.250%, due 09/24/26	2,000,000	1,728,973
5.000%, due 06/22/27	1,000,000	953,567
Bank of Montreal, 2.000%, due 12/22/26	2,500,000	2,177,615
Citigroup Global Markets Holdings, Inc., 3.000%, due 03/28/24	2,500,000	2,463,864
Citigroup, Inc., 3.875%, due 03/26/25	2,000,000	1,932,065
Goldman Sachs Group, Inc. (The), 3.500%, due 04/01/25	1,000,000	962,871
Royal Bank of Canada, 5.500%, due 02/14/25	1,000,000	996,208
		11,215,163
Health Care - 1.0%
Johnson & Johnson, 1.300%, due 09/01/30	5,000,000	3,931,532

Industrials - 0.3%
Caterpillar, Inc., 8.250%, due 12/15/38	1,000,000	1,237,997

JAMES BALANCED: GOLDEN RAINBOW FUND
SCHEDULE OF INVESTMENTS (Continued)

CORPORATE BONDS - 7.5% (Continued)	Par Value	Value
Information Technology - 2.4%
Apple, Inc., 2.050%, due 09/11/26	$ 2,500,000	$ 2,297,307
Automatic Data Processing, Inc., 1.250%, due 09/01/30	2,000,000	1,543,752
Intel Corporation, 2.875%, due 05/11/24	5,000,000	4,913,663
PayPal Holdings, Inc., 2.650%, due 10/01/26	1,000,000	922,282
		9,677,004

Total Corporate Bonds (Cost $33,898,155)		$ 30,906,819


MORTGAGE-BACKED SECURITIES - 3.0%	Par Value	Value
Federal National Mortgage Association - 3.0%
3.500%, due 09/01/33	$ 3,112,225	$ 2,866,840
3.500%, due 05/25/47	273,374	250,952
2.500%, due 01/01/57	11,492,929	9,127,817
Total Mortgage-Backed Securities (Cost $14,494,251)		$ 12,245,609


MUNICIPAL BONDS - 1.6%	Par Value	Value
Ohio - 1.6%
Beavercreek Ohio City School District,
3.250%, due 12/01/36 (Cost $7,408,314)	$ 7,450,000	$ 6,413,339


U.S. GOVERNMENT & AGENCIES - 5.5%	Par Value	Value
Federal Farm Credit Bank - 1.8%
0.670%, due 08/04/25	$ 2,000,000	$ 1,838,328
2.750%, due 11/06/26	5,725,000	5,376,358
		7,214,686

JAMES BALANCED: GOLDEN RAINBOW FUND
SCHEDULE OF INVESTMENTS (Continued)

U.S. GOVERNMENT & AGENCIES - 5.5% (Continued)	Par Value	Value
Federal Home Loan Bank - 3.0%
3.650%, due 07/19/24	$ 1,000,000	$ 984,653
3.000%, due 12/30/24	1,000,000	970,844
3.125%, due 04/29/25	2,500,000	2,412,316
4.050%, due 07/28/25	2,000,000	1,950,867
0.580%, due 09/11/25	2,000,000	1,828,156
1.020%, due 09/17/26	2,500,000	2,221,334
0.850%, due 10/15/27	2,500,000	2,119,814
		12,487,984
Federal Home Loan Mortgage Corporation - 0.7%
3.125%, due 06/28/24	2,000,000	1,963,931
5.750%, due 03/20/26	1,000,000	992,654
		2,956,585

Total U.S. Government & Agencies (Cost $24,210,028)		$ 22,659,255


U.S. TREASURY OBLIGATIONS - 28.2%	Par Value	Value
U.S. Treasury Bills ^(b) - 3.1%
5.335%, due 10/05/23	$ 2,000,000	$ 1,999,122
5.347%, due 10/24/23	3,000,000	2,990,327
5.429%, due 12/28/23	7,000,000	6,910,003
5.445%, due 09/05/24	1,000,000	951,160
		12,850,612
U.S. Treasury Bonds - 3.5%
3.125%, due 05/15/48	19,000,000	14,227,734

U.S. Treasury Notes - 21.6%
0.250%, due 03/15/24	15,000,000	14,657,813
2.000%, due 06/30/24	2,000,000	1,949,141
4.500%, due 11/30/24	30,000,000	29,698,828
2.375%, due 05/15/27	15,000,000	13,832,813

JAMES BALANCED: GOLDEN RAINBOW FUND
SCHEDULE OF INVESTMENTS (Continued)

U.S. TREASURY OBLIGATIONS - 28.2% (Continued)	Par Value	Value
U.S. Treasury Notes - 21.6% (Continued)
3.125%, due 11/15/28	$ 30,000,000	$ 27,933,984
4.125%, due 11/15/32	1,000,000	964,453
		89,037,032

Total U.S. Treasury Obligations (Cost $121,960,570)		$ 116,115,378


MONEY MARKET FUNDS - 1.6%	Shares	Value
First American Treasury Obligations Fund - Class X, 5.26% ^(c)(Cost $6,782,281)	6,782,281	$ 6,782,281

Total Investments at Value - 99.7% (Cost $355,821,604)		$ 409,957,243

Other Assets in Excess of Liabilities - 0.3%		1,205,756

Net Assets - 100.0%		$ 411,162,999

^(a)	Non-income producing security.
^(b)	The rate shown is the annualized yield at time of purchase.
^(c)	The rate shown is the 7-day effective yield as of September 30, 2023.

ADR	- American Depositary Receipt.

JAMES SMALL CAP FUND
SCHEDULE OF INVESTMENTS
September 30, 2023 (Unaudited)

COMMON STOCKS - 93.8%	Shares	Value
Consumer Discretionary - 11.5%
Boyd Gaming Corporation	3,895	$ 236,933
Brinker International, Inc. ^(a)	22,182	700,729
Deckers Outdoor Corporation ^(a)	1,888	970,603
Marriott Vacations Worldwide Corporation	2,670	268,682
Oxford Industries, Inc.	3,040	292,235
Patrick Industries, Inc.	6,190	464,621
Winmark Corporation	1,921	716,783
YETI Holdings, Inc. ^(a)	6,670	321,627
		3,972,213
Consumer Staples - 4.0%
Andersons, Inc. (The)	5,993	308,700
Casey's General Stores, Inc.	699	189,792
Coca-Cola Consolidated, Inc.	960	610,867
Ingles Markets, Inc. - Class A	3,455	260,265
		1,369,624
Energy - 5.1%
Callon Petroleum Company ^(a)	10,659	416,980
HF Sinclair Corporation	8,907	507,076
Magnolia Oil & Gas Corporation - Class A	19,100	437,581
Matador Resources Company	6,600	392,568
		1,754,205
Financials - 24.5%
American Equity Investment Life Holding Company	9,397	504,055
American Financial Group, Inc.	2,630	293,692
Assured Guaranty Ltd.	10,300	623,356
Axos Financial, Inc. ^(a)	6,132	232,158
Bancorp, Inc. (The) ^(a)	7,299	251,816
Enova International, Inc. ^(a)	17,830	907,012
Evercore, Inc. - Class A	6,730	927,932
EZCORP, Inc. - Class A ^(a)	33,000	272,250
Federated Hermes, Inc.	7,149	242,137
First BanCorp	47,750	642,714
Houlihan Lokey, Inc.	6,300	674,856
LPL Financial Holdings, Inc.	1,313	312,034
MGIC Investment Corporation	37,900	632,551

JAMES SMALL CAP FUND
SCHEDULE OF INVESTMENTS (Continued)

COMMON STOCKS - 93.8% (Continued)	Shares	Value
Financials - 24.5% (Continued)
Piper Sandler Companies	6,085	$ 884,211
Radian Group, Inc.	26,798	672,898
SouthState Corporation	5,620	378,563
		8,452,235
Health Care - 9.1%
AMN Healthcare Services, Inc. ^(a)	3,900	332,202
Corcept Therapeutics, Inc. ^(a)	18,033	491,309
Dynavax Technologies Corporation ^(a)	46,770	690,793
Innoviva, Inc. ^(a)	35,600	462,444
Integer Holdings Corporation ^(a)	4,878	382,582
National HealthCare Corporation	3,545	226,809
Option Care Health, Inc. ^(a)	10,500	339,675
Varex Imaging Corporation ^(a)	11,600	217,964
		3,143,778
Industrials - 12.6%
Allegiant Travel Company	2,400	184,464
Boise Cascade Company	4,976	512,727
Encore Wire Corporation	6,285	1,146,762
FTI Consulting, Inc. ^(a)	5,420	966,982
Generac Holdings, Inc. ^(a)	4,288	467,220
Hillenbrand, Inc.	13,136	555,784
WESCO International, Inc.	3,556	511,424
		4,345,363
Information Technology - 11.1%
Avnet, Inc.	8,250	397,568
Concentrix Corporation	2,500	200,275
Insight Enterprises, Inc. ^(a)	3,605	524,528
Nova Ltd. ^(a)	3,000	337,320
PC Connection, Inc.	17,500	934,149
Progress Software Corporation	5,935	312,062
Super Micro Computer, Inc. ^(a)	2,494	683,905
TD SYNNEX Corporation	1,100	109,846
Vishay Intertechnology, Inc.	13,612	336,489
		3,836,142
Materials - 6.4%
Cleveland-Cliffs, Inc. ^(a)	24,575	384,107

JAMES SMALL CAP FUND
SCHEDULE OF INVESTMENTS (Continued)

COMMON STOCKS - 93.8% (Continued)	Shares	Value
Materials - 6.4% (Continued)
Graphic Packaging Holding Company	7,745	$ 172,559
Innospec, Inc.	5,286	540,229
Schnitzer Steel Industries, Inc. - Class A	13,820	384,887
Warrior Met Coal, Inc	13,785	704,138
		2,185,920
Real Estate - 5.9%
Agree Realty Corporation	6,505	359,336
Healthcare Realty Trust, Inc.	8,000	122,160
LXP Industrial Trust	58,560	521,184
Physicians Realty Trust	21,000	255,990
Sabra Health Care REIT, Inc.	10,000	139,400
STAG Industrial, Inc.	6,000	207,060
Terreno Realty Corporation	4,200	238,560
Xenia Hotel & Resorts, Inc.	16,940	199,553
		2,043,243
Utilities - 3.6%
IDACORP, Inc.	3,753	351,468
Otter Tail Corporation	5,935	450,586
Portland General Electric Company	10,455	423,218
		1,225,272

Total Common Stocks (Cost $23,332,630)		$ 32,327,995


U.S. TREASURY OBLIGATIONS - 2.9%	Par Value	Value
U.S. Treasury Bills ^(b) - 2.9%
5.444%, due 01/25/24 (Cost $983,138)	$ 1,000,000	$ 983,030

JAMES SMALL CAP FUND
SCHEDULE OF INVESTMENTS (Continued)

MONEY MARKET FUNDS - 3.5%	Shares	Value
First American Treasury Obligations Fund - Class X, 5.26% ^(c) (Cost $1,192,413)	1,192,413	$ 1,192,413

Total Investments at Value - 100.2% (Cost $25,508,181)		$ 34,503,438

Liabilities in Excess of Other Assets - (0.2%)		(51,280 )

Net Assets - 100.0%		$ 34,452,158

^(a)	Non-income producing security.
^(b)	The rate shown is the annualized yield at time of purchase.
^(c)	The rate shown is the 7-day effective yield as of September 30, 2023.

JAMES MICRO CAP FUND
SCHEDULE OF INVESTMENTS
September 30, 2023 (Unaudited)

COMMON STOCKS - 94.9%	Shares	Value
Consumer Discretionary - 10.4%
Century Communities, Inc.	4,662	$ 311,328
Haverty Furniture Companies, Inc.	21,134	608,237
M/I Homes, Inc. ^(a)	4,742	398,518
MarineMax, Inc. ^(a)	5,750	188,715
Patrick Industries, Inc.	4,044	303,542
Shoe Carnival, Inc.	12,950	311,189
Standard Motor Products, Inc.	5,625	189,113
Zumiez, Inc. ^(a)	4,568	81,310
		2,391,952
Consumer Staples - 5.8%
Central Garden & Pet Company - Class A ^(a)	13,108	525,500
Ingles Markets, Inc. - Class A	10,714	807,085
		1,332,585
Energy - 6.3%
Civitas Resources, Inc.	7,254	586,631
Dorian LPG Ltd.	19,032	546,789
Vital Energy, Inc. ^(a)	5,814	322,212
		1,455,632
Financials - 26.1%
Bancorp, Inc. (The) ^(a)	6,900	238,050
Donnelley Financial Solutions, Inc. ^(a)	20,288	1,141,809
Enova International, Inc. ^(a)	17,016	865,604
Federal Agricultural Mortgage Corporation - Class C	6,912	1,066,521
Merchants Bancorp	25,704	712,515
Nelnet, Inc. - Class A	5,646	504,301
OFG Bancorp	25,456	760,116
Piper Sandler Companies	4,960	720,738
		6,009,654
Health Care - 9.4%
Cross Country Healthcare, Inc. ^(a)	4,213	104,440
Eagle Pharmaceuticals, Inc. ^(a)	1,650	26,021
Innoviva, Inc. ^(a)	40,082	520,665
Integer Holdings Corporation ^(a)	6,396	501,639
iRadmed Corporation	2,400	106,488
iTeos Therapeutics, Inc. ^(a)	3,964	43,406

JAMES MICRO CAP FUND
SCHEDULE OF INVESTMENTS (Continued)

COMMON STOCKS - 94.9% (Continued)	Shares	Value
Health Care - 9.4% (Continued)
Kiniksa Pharmaceuticals Ltd. - Class A ^(a)	6,909	$ 120,009
Selecta Biosciences, Inc. ^(a)	94,737	100,421
SIGA Technologies, Inc.	52,400	275,100
Utah Medical Products, Inc.	4,200	361,200
		2,159,389
Industrials - 12.7%
ACCO Brands Corporation	74,997	430,483
ArcBest Corporation	5,285	537,220
Boise Cascade Company	2,500	257,600
CRA International, Inc.	3,384	340,972
Genco Shipping & Trading Ltd.	8,000	111,920
Heidrick & Struggles International, Inc.	3,400	85,068
Heritage-Crystal Clean, Inc. ^(a)	5,000	226,750
Insteel Industries, Inc.	3,500	113,610
Kforce, Inc.	2,400	143,184
Shyft Group, Inc. (The)	6,336	94,850
Transcat, Inc. ^(a)	2,200	215,534
V2X, Inc. ^(a)	6,950	359,037
		2,916,228
Information Technology - 16.2%
Cohu, Inc. ^(a)	8,022	276,278
ePlus, Inc. ^(a)	4,600	292,192
Insight Enterprises, Inc. ^(a)	5,663	823,966
Nova Ltd. ^(a)	9,143	1,028,038
PC Connection, Inc.	12,184	650,382
Photronics, Inc. ^(a)	22,198	448,622
Vishay Precision Group, Inc. ^(a)	6,384	214,375
		3,733,853
Materials - 5.8%
Innospec, Inc.	4,000	408,800
Schnitzer Steel Industries, Inc. - Class A	18,045	502,553
United States Lime & Minerals, Inc.	2,070	416,070
		1,327,423
Real Estate - 1.5%
PotlatchDeltic Corporation	7,517	341,197

JAMES MICRO CAP FUND
SCHEDULE OF INVESTMENTS (Continued)

COMMON STOCKS - 94.9% (Continued)	Shares	Value
Utilities - 0.7%
Clearway Energy, Inc. - Class C	7,332	$ 155,145

Total Common Stocks (Cost $14,229,729)		$ 21,823,058


U.S. TREASURY OBLIGATIONS - 3.8%	Par Value	Value
U.S. Treasury Bills ^(b) - 3.8%
5.069%, due 01/25/24 (Cost $886,150)	$ 900,000	$ 884,757


MONEY MARKET FUNDS - 1.4%	Shares	Value
First American Treasury Obligations Fund - Class X, 5.26% ^(c) (Cost $310,490)	310,490	$ 310,490

Total Investments at Value - 100.1% (Cost $15,426,369)		$ 23,018,305

Liabilities in Excess of Other Assets - (0.1%)		(20,275 )

Net Assets - 100.0%		$ 22,998,030

^(a)	Non-income producing security.
^(b)	The rate shown is the annualized yield at time of purchase.
^(c)	The rate shown is the 7-day effective yield as of September 30, 2023.

JAMES AGGRESSIVE ALLOCATION FUND
SCHEDULE OF INVESTMENTS
September 30, 2023 (Unaudited)

COMMON STOCKS - 76.0%	Shares	Value
Communication Services - 8.4%
Alphabet, Inc. - Class A ^(a)	4,750	$ 621,585
Comcast Corporation - Class A	6,645	294,639
Meta Platforms, Inc. - Class A ^(a)	1,300	390,273
T-Mobile US, Inc. ^(a)	2,300	322,115
		1,628,612
Consumer Discretionary - 6.5%
Best Buy Company, Inc.	1,815	126,088
Deckers Outdoor Corporation ^(a)	590	303,313
Home Depot, Inc. (The)	700	211,512
M/I Homes, Inc. ^(a)	1,250	105,050
McDonald's Corporation	1,000	263,440
Tractor Supply Company	1,205	244,675
		1,254,078
Consumer Staples - 3.7%
PepsiCo, Inc.	1,100	186,384
Procter & Gamble Company (The)	1,700	247,962
Walmart, Inc.	1,700	271,881
		706,227
Energy - 4.7%
Cheniere Energy, Inc.	845	140,236
Chevron Corporation	2,000	337,240
Matador Resources Company	5,000	297,400
Valero Energy Corporation	1,000	141,710
		916,586
Financials - 8.8%
Bancorp, Inc. (The) ^(a)	4,400	151,800
BlackRock, Inc.	500	323,245
Charles Schwab Corporation (The)	1,500	82,350
Enova International, Inc. ^(a)	8,485	431,632
Goldman Sachs Group, Inc. (The)	855	276,652
JPMorgan Chase & Company	2,000	290,040
Primerica, Inc.	800	155,208
		1,710,927
Health Care - 10.9%
Abbott Laboratories	2,625	254,231

JAMES AGGRESSIVE ALLOCATION FUND
SCHEDULE OF INVESTMENTS (Continued)

COMMON STOCKS - 76.0% (Continued)	Shares	Value
Health Care - 10.9% (Continued)
AbbVie, Inc.	1,250	$ 186,325
AstraZeneca plc - ADR	4,000	270,880
Danaher Corporation	825	204,683
Eli Lilly & Company	600	322,278
Johnson & Johnson	1,295	201,696
Novo Nordisk A/S - ADR	1,050	95,487
UnitedHealth Group, Inc.	610	307,556
Zoetis, Inc.	1,595	277,498
		2,120,634
Industrials - 5.7%
ABB Ltd. - ADR	3,500	124,565
Caterpillar, Inc.	800	218,400
Deere & Company	435	164,160
Eaton Corporation plc	1,175	250,604
Lockheed Martin Corporation	415	169,718
Union Pacific Corporation	850	173,086
		1,100,533
Information Technology - 20.1%
Accenture plc - Class A	465	142,806
Apple, Inc.	3,400	582,114
ASML Holding N.V.	550	323,763
Broadcom, Inc.	300	249,174
Cadence Design Systems, Inc. ^(a)	2,000	468,600
Cisco Systems, Inc.	1,500	80,640
Jabil, Inc.	1,800	228,402
Mastercard, Inc. - Class A	735	290,994
Microsoft Corporation	1,730	546,248
Nova Ltd. ^(a)	2,515	282,787
NVIDIA Corporation	1,600	695,984
		3,891,512
Materials - 2.5%
CF Industries Holdings, Inc.	500	42,870
James Hardie Industries plc - ADR ^(a)	6,800	178,432
Linde plc	400	148,940
Nucor Corporation	700	109,445
		479,687

JAMES AGGRESSIVE ALLOCATION FUND
SCHEDULE OF INVESTMENTS (Continued)

COMMON STOCKS - 76.0% (Continued)	Shares	Value
Real Estate - 2.6%
Digital Realty Trust, Inc.	1,500	$ 181,530
Prologis, Inc.	2,905	325,970
		507,500
Utilities - 2.1%
American Water Works Company, Inc.	750	92,873
Iberdrola S.A. - ADR	2,000	89,480
NextEra Energy, Inc.	2,380	136,349
Sempra	1,220	82,997
		401,699

Total Common Stocks (Cost $11,262,186)		$ 14,717,995


CORPORATE BONDS - 6.2%	Par Value	Value
Consumer Discretionary - 2.1%
Starbucks Corporation, 2.550%, due 11/15/30	$ 500,000	$ 410,557

Financials - 2.1%
Bank of Montreal, 2.000%, due 12/22/26	200,000	174,209
Citigroup, Inc., 3.875%, due 03/26/25	250,000	241,508
		415,717
Health Care - 1.2%
AstraZeneca plc, 0.700%, due 04/08/26	250,000	223,151

Information Technology - 0.8%
Automatic Data Processing, Inc., 1.250%, due 09/01/30	200,000	154,375

Total Corporate Bonds (Cost $1,403,088)		$ 1,203,800


U.S. GOVERNMENT & AGENCIES - 6.5%	Par Value	Value
Federal Farm Credit Bank - 2.4%
0.670%, due 08/04/25	$ 500,000	$ 459,583

JAMES AGGRESSIVE ALLOCATION FUND
SCHEDULE OF INVESTMENTS (Continued)

U.S. GOVERNMENT & AGENCIES - 6.5% (Continued)	Par Value	Value
Federal Home Loan Bank - 0.5%
3.650%, due 07/19/24	$ 100,000	$ 98,465

Federal Home Loan Mortgage Corporation - 1.3%
3.125%, due 06/28/24	250,000	245,491

Federal National Mortgage Association - 2.3%
0.560%, due 10/22/25	500,000	454,687

Total U.S. Government & Agencies (Cost $1,350,000)		$ 1,258,226


U.S. TREASURY OBLIGATIONS - 10.7%	Par Value	Value
U.S. Treasury Bills ^(b) - 2.3%
5.356%, due 10/24/23	$ 100,000	$ 99,678
5.387%, due 12/28/23	100,000	98,714
5.385%, due 08/08/24	250,000	238,766
		437,158
U.S. Treasury Bonds - 2.8%
3.000%, due 08/15/48	750,000	548,262

U.S. Treasury Notes - 5.6%
0.250%, due 03/15/24	500,000	488,593
1.125%, due 02/28/25	400,000	377,563
2.625%, due 02/15/29	250,000	226,152
		1,092,308

Total U.S. Treasury Obligations (Cost $2,248,707)		$ 2,077,728

JAMES AGGRESSIVE ALLOCATION FUND
SCHEDULE OF INVESTMENTS (Continued)

MONEY MARKET FUNDS - 0.6%	Shares	Value
First American Treasury Obligations Fund - Class X, 5.26% ^(c) (Cost $115,771)	115,771	$ 115,771

Total Investments at Value - 100.0% (Cost $16,379,752)		$ 19,373,520

Other Assets in Excess of Liabilities - 0.0% ^(d)		3,125

Net Assets - 100.0%		$ 19,376,645

^(a)	Non-income producing security.
^(b)	The rate shown is the annualized yield at time of purchase.
^(c)	The rate shown is the 7-day effective yield as of September 30, 2023.
^(d)	Percentage rounds to less than 0.1%.

ADR

- American Depositary Receipt.