0001752724-23-180015.txt : 20230817 0001752724-23-180015.hdr.sgml : 20230817 20230817162150 ACCESSION NUMBER: 0001752724-23-180015 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230630 FILED AS OF DATE: 20230817 DATE AS OF CHANGE: 20230817 PERIOD START: 20230930 FILER: COMPANY DATA: COMPANY CONFORMED NAME: World Funds Trust CENTRAL INDEX KEY: 0001396092 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-22172 FILM NUMBER: 231182195 BUSINESS ADDRESS: STREET 1: 8730 STONY POINT PARKWAY STREET 2: SUITE 205 CITY: RICHMOND STATE: VA ZIP: 23235 BUSINESS PHONE: 804-267-7400 MAIL ADDRESS: STREET 1: 8730 STONY POINT PARKWAY STREET 2: SUITE 205 CITY: RICHMOND STATE: VA ZIP: 23235 FORMER COMPANY: FORMER CONFORMED NAME: Abacus World Funds Trust DATE OF NAME CHANGE: 20070410 0001396092 S000075967 Clifford Capital International Value Fund C000235351 Super Institutional Class CIVQX C000235352 Institutional Class CCIVX C000235353 Investor Class CIIRX NPORT-P 1 primary_doc.xml NPORT-P false 0001396092 XXXXXXXX S000075967 C000235353 C000235351 C000235352 World Funds Trust 811-22172 0001396092 5493007BOSPYEMKSSY03 8730 Stony Point Parkway Suite 205 Richmond 23235 800-673-0550 Clifford Capital International Value Fund S000075967 549300TOOI0BS2X6QN96 2023-09-30 2023-06-30 N 673523.28 22428.90 651094.38 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 0.00000000 N Default N/A VODAFONE GROUP PLC-ADR 92857W308 2163.00000000 NS USD 20440.35000000 3.139383571395 Long EC CORP GB N 1 N N N Default N/A WORLDLINE SA N/A 510.00000000 NS 18643.19000000 2.863362144210 Long EC CORP FR N 1 N N N Default N/A ENEL SPA N/A 2395.00000000 NS 16119.64000000 2.475776246141 Long EC CORP IT N 1 N N N Default N/A CARREFOUR SA N/A 1064.00000000 NS 20149.86000000 3.094767919821 Long EC CORP FR N 1 N N N Default N/A ROLLS-ROYCE HOLDINGS PLC N/A 9137.00000000 NS 17527.86000000 2.692061326040 Long EC CORP GB N 1 N N N Default N/A TAKEDA PHARMACEUTICAL COMPANY-SP ADR 874060205 1477.00000000 NS USD 23203.67000000 3.563795159773 Long EC CORP JP N 1 N N N Default N/A CITIC LIMITED N/A 16000.00000000 NS 19091.37000000 2.932197018810 Long EC CORP HK N 1 N N N Default N/A FRESNIUS MEDICAL CARE AG & CO-ADR 358029106 767.00000000 NS USD 18354.31000000 2.818993768614 Long EC CORP DE N 1 N N N Default N/A CAPGEMINI SE N/A 58.00000000 NS 10983.94000000 1.686996591799 Long EC CORP FR N 1 N N N Default N/A ASTELLAS PHARMA INC N/A 1100.00000000 NS 16382.41000000 2.516134450430 Long EC CORP JP N 1 N N N Default N/A PING AN INSURANCE GROUP CO-H N/A 1500.00000000 NS 9542.49000000 1.465607797136 Long EC CORP CN N 1 N N N Default N/A BAYER AG-REG N/A 291.00000000 NS 16089.76000000 2.471187049717 Long EC CORP DE N 1 N N N Default N/A ENGIE SA N/A 1213.00000000 NS 20156.22000000 3.095744736730 Long EC CORP FR N 1 N N N Default N/A BAE SYSEMS PLC N/A 802.00000000 NS 9441.89000000 1.450156888161 Long EC CORP GB N 1 N N N TELEFONICA-ADR N/A Telefonica SA 879382208 5484.00000000 NS USD 22100.52000000 3.394365038137 Long EC CORP ES N 1 N N N Default N/A KONINKLIJKE AHOLD DELHAIZE N.V. N/A 552.00000000 NS 18829.27000000 2.891941718188 Long EC CORP NL N 1 N N N Default N/A SCHNEIDER ELECTRIC SE N/A 67.00000000 NS 12169.99000000 1.869159122522 Long EC CORP FR N 1 N N N Default N/A CONTINENTAL AG N/A 230.00000000 NS 17342.49000000 2.663590799232 Long EC CORP DE N 1 N N N HSBC HOLDING-ADR N/A HSBC Holdings PLC 404280406 727.00000000 NS USD 28803.74000000 4.423896271382 Long EC CORP GB N 1 N N N Default N/A BT GROUP PLC N/A 10471.00000000 NS 16270.35000000 2.498923427967 Long EC CORP GB N 1 N N N Default N/A AIRBUS SE N/A 143.00000000 NS 20653.71000000 3.172153014129 Long EC CORP NL N 1 N N N Default N/A ENBRIDGE INC COM 29250N105 367.00000000 NS USD 13634.05000000 2.094020532015 Long EC CORP CA N 1 N N N Default N/A AVIVA PLC N/A 2629.40000000 NS 13197.10000000 2.026910445763 Long EC CORP GB N 1 N N N NOKIA CORP-ADR N/A Nokia OYJ 654902204 3860.00000000 NS USD 16057.60000000 2.466247673647 Long EC CORP FI N 1 N N N SCHLUMBERGER LTD N/A Schlumberger Ltd. 806857108 376.00000000 NS USD 18469.12000000 2.836627156880 Long EC CORP US N 1 N N N Default N/A CK HUTCHISON HOLDINGS LIMITED N/A 2500.00000000 NS 15266.08000000 2.344680044696 Long EC CORP KY N 1 N N N Default N/A SHELL PLC-ADR 780259305 377.00000000 NS USD 22763.26000000 3.496153660549 Long EC CORP GB N 1 N N N Default N/A ROCHE HOLDING AG N/A 69.00000000 NS 21084.31000000 3.238287819348 Long EC CORP CH N 1 N N N Taiwan Semiconductor 549300KB6NK5SBD14S87 Taiwan Semiconductor 874039100 90.00000000 NS USD 9082.80000000 1.395005129671 Long EC CORP US N 1 N N N Default N/A SOCIETE GENERALE SA N/A 1037.00000000 NS 26931.54000000 4.136349633366 Long EC CORP FR N 1 N N N Default N/A KONINKLIJKE PHILIPS NVR-NY 500472303 1256.28975800 NS USD 27248.93000000 4.185096790422 Long EC CORP NL N 1 N N N Default N/A LIBERTY GLOBAL PLC-A N/A 1281.00000000 NS USD 21597.66000000 3.317131995518 Long EC CORP GB N 1 N N N UNILEVER PLC-ADR N/A Unilever PLC 904767704 419.00000000 NS USD 21842.47000000 3.354731767151 Long EC CORP GB N 1 N N N BASF SE-ADR 529900PM64WH8AF1E917 BASF SE N/A 305.00000000 NS 14800.37000000 2.273152780093 Long EC CORP DE N 1 N N N ERICSSON LM-ADR N/A Telefonaktiebolaget LM Ericsson 294821608 2340.00000000 NS USD 12753.00000000 1.958702208426 Long EC CORP SE N 1 N N N BANCO SANTAN-ADR N/A Banco Santander SA 05964H105 7506.00000000 NS USD 27847.26000000 4.276992837812 Long EC CORP ES N 1 N N N Default N/A Fifth Third Banksafe Trust 316775907 12929.30000000 NS USD 12929.26000000 1.985773552522 Long STIV RF US N 1 N N N Default N/A KAO CORPORATION N/A 300.00000000 NS 10840.29000000 1.664933738177 Long EC CORP JP N 1 N N N 2023-07-31 World Funds Trust Ann MacDonald Ann MacDonald Principal XXXX NPORT-EX 2 283.htm CFS_283_20230630_20230817162250793.pdf

 

Clifford Capital International Value Fund

 

 

Schedule of Investments

June 30, 2023 (unaudited)

102.25%

COMMON STOCKS

Shares

 

Fair Value

 

 

 

2.09%

CANADA

 

 

 

 

Enbridge Inc. . . . . . . . . . . . . .

367

$

13,634

4.40%

CHINA

 

 

 

 

CITIC Ltd. . . . . . . . . . . . . . . .

16,000

 

19,091

 

Ping An Insurance Group Company of

 

 

 

 

China Ltd. . . . . . . . . . . . . . .

1,500

 

9,543

 

 

 

 

28,634

2.47%

FINLAND

 

 

 

 

Nokia Oyj ADR . . . . . . . . . . . . .

3,860

 

16,058

19.92%

FRANCE

 

 

 

 

Airbus SE . . . . . . . . . . . . . . .

143

 

20,654

 

Capgemini SE . . . . . . . . . . . . .

58

 

10,984

 

Carrefour SA . . . . . . . . . . . . .

1,064

 

20,150

 

Engie SA . . . . . . . . . . . . . . .

1,213

 

20,156

 

Schneider Electric SE . . . . . . . . . .

67

 

12,170

 

Societe Generale SA . . . . . . . . . .

1,037

 

26,932

 

Worldline SA(A) . . . . . . . . . . . . .

510

 

18,643

 

 

 

 

129,689

10.22%

GERMANY

 

 

 

 

BASF SE . . . . . . . . . . . . . . .

305

 

14,800

 

Bayer AG . . . . . . . . . . . . . . .

291

 

16,090

 

Continental AG . . . . . . . . . . . .

230

 

17,343

 

Fresenius Medical Care AG & Co.

 

 

 

 

KGaA ADR . . . . . . . . . . . . .

767

 

18,354

 

 

 

 

66,587

2.34%

HONG KONG

 

 

 

 

CK Hutchison Holdings Ltd. . . . . . . .

2,500

 

15,266

2.48%

ITALY

 

 

 

 

Enel SpA . . . . . . . . . . . . . . .

2,395

 

16,120

7.74%

JAPAN

 

 

 

 

Astellas Pharma Inc. . . . . . . . . . .

1,100

 

16,382

 

Kao Corp. . . . . . . . . . . . . . . .

300

 

10,840

 

Takeda Pharmaceutical Co. Ltd. ADR . . .

1,477

 

23,204

 

 

 

 

50,426

 

1

 

 

 

QUARTERLY REPORT

 

Clifford Capital International Value Fund

 

 

 

Schedule of Investments

June 30, 2023 (unaudited)

 

7.08%

NETHERLANDS

 

Shares

 

Fair Value

 

 

 

 

 

 

Koninklijke Ahold Delhaize N.V. . . . . .

552

$

18,829

 

Koninklijke Philips N.V. ADR(A) . . . . . .

1,256

 

27,249

 

 

 

 

 

46,078

7.67%

SPAIN

 

 

 

 

 

 

Banco Santander SA ADR . . . . . . . .

7,506

 

27,847

 

Telefonica SA ADR . . . . . . . . . . .

5,484

 

22,101

 

 

 

 

 

49,948

1.96%

SWEDEN

 

 

 

 

 

 

Telefonaktiebolaget LM Ericsson ADR . .

2340

 

12,753

3.24%

SWITZERLAND

 

 

 

 

 

 

Roche Holding AG . . . . . . . . . . .

69

 

21,084

1.40%

TAIWAN

 

 

 

 

 

 

Taiwan Semiconductor . . . . . . . . .

90

 

9,083

26.40%

UNITED KINGDOM

 

 

 

 

 

 

Aviva plc . . . . . . . . . . . . . . .

2,629

 

13,197

 

BAE Systems plc . . . . . . . . . . . .

802

 

9,442

 

BT Group plc . . . . . . . . . . . . .

10,471

 

16,270

 

HSBC Holdings plc ADR . . . . . . . .

727

 

28,804

 

Liberty Global plc - Class A(A) . . . . . .

1,281

 

21,598

 

Rolls-Royce Holdings plc(A) . . . . . . .

9,137

 

17,528

 

Shell plc ADR . . . . . . . . . . . . .

377

 

22,763

 

Unilever plc ADR . . . . . . . . . . . .

419

 

21,842

 

Vodafone Group plc ADR . . . . . . . .

2,163

 

20,440

 

 

 

 

 

171,884

2.84%

UNITED STATES

 

 

 

 

 

 

Schlumberger, Ltd. . . . . . . . . . . .

376

 

18,469

102.25%

TOTAL COMMON STOCKS . . . . . . . . . . . . . .

 

665,713

102.25%

TOTAL INVESTMENTS . . . . . . . . . . . . . . . .

 

665,713

(2.25%)

Liabilities in excess of other assets . . . . . . . . . . .

 

(14,619)

100.00%

NET ASSETS . . . . . . . . . . . . . .

. . . . . . .

$

651,094

(A)Non-income producing

ADR - Security represented is held by the custodian bank in the form of American Depositary Receipts.

2

QUARTERLY REPORT

Clifford Capital International Value Fund

Schedule of Investments

June 30, 2023 (unaudited)

In accordance with U.S. GAAP, “fair value” is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. Various inputs are used in determining the value of a Fund’s investments. U.S. GAAP established a three-tier hierarchy of inputs to establish a classification of fair value measurements for disclosure purposes. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used to value the Fund’s investments as of June 30, 2023.

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

Significant

 

 

Significant

 

 

 

 

Observable

 

Unobservable

 

 

Quoted Prices

 

 

Inputs

 

 

Inputs

Total

Common Stocks . . . . . .

665,713

 

 

—

 

 

—

665,713

Total Investments . . . . . .

$ 665,713

$

—

$

— $

665,713

 

 

 

 

 

 

 

 

 

 

 

The Fund held no Level 3 securities at any time during the period.

There were no transfers into or out of Levels 1 and 2 during the period ended June 30, 2023.

At June 30, 2023, the cost of investment for Federal income tax purposes has been estimated since the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income tax purpose is $648,216 and the related tax-based net unrealized appreciation (depreciation) consists of:

Gross unrealized appreciation . . .

$

62,837

 

Gross unrealized depreciation . . . .

 

(45,340)

Net unrealized appreciation . . . . .

$

17,497

 

 

 

 

 

3

QUARTERLY REPORT