0001752724-23-200225.txt : 20230905 0001752724-23-200225.hdr.sgml : 20230905 20230905124726 ACCESSION NUMBER: 0001752724-23-200225 CONFORMED SUBMISSION TYPE: NPORT-P/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230630 FILED AS OF DATE: 20230905 DATE AS OF CHANGE: 20230905 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/A SEC ACT: 1940 Act SEC FILE NUMBER: 811-22172 FILM NUMBER: 231234891 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 S000066697 Clifford Capital Focused Small Cap Value Fund C000214940 Super Institutional Class FSVQX C000214941 Institutional Class FSVVX C000214942 Investor Class FSVRX NPORT-P/A 1 primary_doc.xml NPORT-P/A false 0001752724-23-180018 0001396092 XXXXXXXX S000066697 C000214940 C000214942 C000214941 World Funds Trust 811-22172 0001396092 5493007BOSPYEMKSSY03 8730 Stony Point Parkway Suite 205 Richmond 23235 800-673-0550 Clifford Capital Focused Small Cap Value Fund S000066697 549300EJ0LQ9QG70HN20 2023-09-30 2023-06-30 N 10957761.25 13694.40 10944066.85 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 7820.79000000 N WESTAMERICA BANC N/A Westamerica Bancorp. 957090103 8970.00000000 NS USD 343551.00000000 3.139152974015 Long EC CORP US N 1 N N N COMPASS MINERALS N/A Compass Minerals International, Inc. 20451N101 9830.00000000 NS USD 334220.00000000 3.053892164410 Long EC CORP US N 1 N N N NCR CORP N/A NCR Corp. 62886E108 19230.00000000 NS USD 484596.00000000 4.427933478860 Long EC CORP US N 1 N N N FEDER-GVT OB-IS N/A Federated Institutional Prime Obligations Fund Institutional Class 60934N203 163846.23200000 NS USD 163873.81000000 1.497375813270 Long STIV RF US N 1 N N N WESTERN UNION N/A Western Union Co./The 959802109 35510.00000000 NS USD 416532.30000000 3.806010194464 Long EC CORP US N 1 N N N Default N/A Pitney Bowes Inc. 724479100 126420.00000000 NS USD 447526.80000000 4.089218442593 Long EC CORP US N 1 N N N HANCOCK HLDG CO N/A Hancock Whitney Corp. 410120109 6630.00000000 NS USD 254459.40000000 2.325089964157 Long EC CORP US N 1 N N N Default N/A PERDOCEO EDUCATION CORP 71363P106 23040.00000000 NS USD 282700.80000000 2.583142115949 Long EC CORP US N 1 N N N Default N/A Thermon Group Holdings, Inc. 88362T103 21070.00000000 NS USD 560462.00000000 5.121149273681 Long EC CORP US N 1 N N N HNI CORP N/A HNI Corp. 404251100 13150.00000000 NS USD 370567.00000000 3.386008191278 Long EC CORP US N 1 N N N BIG LOTS INC N/A Big Lots, Inc. 089302103 30590.00000000 NS USD 270109.70000000 2.468092562866 Long EC CORP US N 1 N N N Default N/A LIBERTY OILFIELD SERVICES -A 53115L104 24200.00000000 NS USD 323554.00000000 2.956432964405 Long EC CORP US N 1 N N N Default N/A WINMARK CORP 974250102 1600.00000000 NS USD 531952.00000000 4.860642824015 Long EC CORP US N 1 N N N Default N/A KLX Energy Services Holdings, Inc. 48253L205 35080.00000000 NS USD 341328.40000000 3.118844253039 Long EC CORP US N 1 N N N CVB FINANCIAL N/A CVB Financial Corp. 126600105 30590.00000000 NS USD 406235.20000000 3.711921770653 Long EC CORP US N 1 N N N URBAN OUTFITTER N/A Urban Outfitters, Inc. 917047102 13640.00000000 NS USD 451893.20000000 4.129115859704 Long EC CORP US N 1 N N N COMMUNI TRUST BA N/A Community Trust Bancorp, Inc. 204149108 9770.00000000 NS USD 347518.90000000 3.175409148748 Long EC CORP US N 1 N N N Default N/A WW INTERNATIONAL 98262P101 41590.00000000 NS USD 279484.80000000 2.553756330536 Long EC CORP US N 1 N N N STEELCASE INC-A N/A Steelcase Inc 858155203 31820.00000000 NS USD 245332.20000000 2.241691350779 Long EC CORP US N 1 N N N Default N/A MILICOM INTL CELLULAR S.A. L6388F110 22180.00000000 NS USD 338023.20000000 3.088643414125 Long EC CORP US N 1 N N N STERICYCLE INC N/A Stericycle, Inc. 858912108 7490.00000000 NS USD 347835.60000000 3.178302954171 Long EC CORP US N 1 N N N Default N/A QURATE RETAIL INC- PFD V 74915M308 9090.00000000 NS USD 341056.80000000 3.116362543052 Long EP CORP US N 1 N N N NextGen Healthcare, Inc. N/A NEXTGEN HEALTHCARE INC 65343C102 24200.00000000 NS USD 392524.00000000 3.586637448216 Long EC CORP US N 1 N N N Default N/A DXC TECHNOLOGY CO 23355L106 16280.00000000 NS USD 435001.60000000 3.974771042265 Long EC CORP US N 1 N N N EVERTEC INC N/A EVERTEC, Inc. 30040P103 10500.00000000 NS USD 386715.00000000 3.533558459577 Long EC CORP PR N 1 N N N GLACIER BANCORP N/A Glacier Bancorp Inc 37637Q105 7060.00000000 NS USD 220060.20000000 2.010771708690 Long EC CORP US N 1 N N N VOXX INTERNATION N/A VOXX International Corp 91829F104 27700.00000000 NS USD 345696.00000000 3.158752634995 Long EC CORP US N 1 N N N DEFAULT ISSUER N/A Fresh Del Monte Produce Inc. G36738105 14680.00000000 NS USD 377422.80000000 3.448652179970 Long EC CORP KY N 1 N N N REYMOLDS CONSUMER PRODUCTS INC N/A REYNOLDS CONSUMER PRODUCTS INC 76171L106 14740.00000000 NS USD 416405.00000000 3.804847007125 Long EC CORP US N 1 N N N COMMERCIAL VEHIC N/A Commercial Vehicle Group, Inc. 202608105 41280.00000000 NS USD 458208.00000000 4.186816530639 Long EC CORP US N 1 N N N 2023-07-31 World Funds Trust Ann MacDonald Ann MacDonald Principal XXXX NPORT-EX 2 282.htm CFS_282_20230630_20230905151819123.pdf

95.12% COMMON STOCKS

3.09% COMMUNICATIONS SERVICES

Millicom International Cellular S.A. (A)

19.76% CONSUMER DISCRETIONARY

Big Lots, Inc.

Perdoceo Education Corp.(A)

Urban Outfitters, Inc.(A)

VOXX International Corp.(A)

Winmark Corp.

WW International, Inc.

7.25% CONSUMER STAPLES

Fresh Del Monte Produce, Inc.

Reynolds Consumer Products, Inc.

6.07% ENERGY

KLX Energy Services Holdings, Inc.(A) Liberty Energy, Inc.

17.90% FINANCIALS

Community Trust Bancorp, Inc.

CVB Financial Corp.

EVERTEC, Inc.

Glacier Bancorp, Inc.

Hancock Whitney Corp.

Westamerica Bancorp.

3.59% HEALTHCARE

NextGen Healthcare, Inc.(A)

22.20% INDUSTRIALS

Commercial Vehicle Group, Inc.(A)

HNI Corp.

Pitney Bowes, Inc.

Steelcase, Inc.

Stericycle, Inc.(A)

Thermon Group Holdings, Inc.(A)

12.21% INFORMATION TECHNOLOGY

DXC Technology Co.(A)

NCR Corp.(A)

The Western Union Co.

3.05% MATERIALS

Compass Minerals International, Inc.

95.12% TOTAL COMMON STOCKS

3.11% PREFERRED STOCKS

Qurate Retail, Inc. Series V, 8.00%

CLIFFORD CAPITAL FOCUSED SMALL CAP VALUE FUND

 

 

SCHEDULE OF INVESTMENTS

 

 

June 30, 2023 (unaudited)

 

 

Shares

 

Fair Value

22,180

$

338,023

30,590

 

270,110

23,040

 

282,701

13,640

 

451,893

27,700

 

345,696

1,600

 

531,952

41,590

 

279,485

 

 

2,161,837

14,680

 

377,423

14,740

 

416,405

 

 

793,828

35,080

 

341,328

24,200

 

323,554

 

 

664,882

9,770

 

347,519

30,590

 

406,235

10,500

 

386,715

7,060

 

220,060

6,630

 

254,459

8,970

 

343,551

 

 

1,958,539

24,200

 

392,524

41,280

 

458,208

13,150

 

370,567

126,420

 

447,527

31,820

 

245,332

7,490

 

347,836

21,070

 

560,462

 

 

2,429,932

16,280

 

435,002

19,230

 

484,596

35,510

 

416,532

 

 

1,336,130

9,830

 

334,220

 

 

10,409,915

9,090

 

341,057

3.11% TOTAL PREFERRED STOCKS

$

341,057

 

 

CLIFFORD CAPITAL FOCUSED SMALL CAP VALUE FUND

 

 

 

 

SCHEDULE OF INVESTMENTS

 

 

 

 

June 30, 2023 (unaudited)

 

 

 

 

Shares

 

Fair Value

1.50%

MONEY MARKET FUNDS

 

 

 

 

Federated Institutional Prime Obligations Fund

 

 

 

Institutional Class 5.19%(B)

163,846

$

163,874

99.73%

TOTAL INVESTMENTS

 

 

10,914,846

0.27%

Liabilities in excess of other assets

 

 

29,221

100.00%

NET ASSETS

 

$

10,944,067

(A)Non-income producing

(B)Effective 7 day yield as of June 30, 2023

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

$

10,409,915

$

-

$

-

$

10,409,915

Preferred Stocks

$

341,057

 

 

 

 

$

341,057

Money Market Funds

 

163,874

 

 

 

 

 

163,874

Total Investments

$

10,914,846

$

-

$

-

$

10,914,846

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 investments 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 $10,357,594 and the related tax-based net unrealized appreciation (depreciation) consists of:

Gross unrealized appreciation

$

1,482,962

Gross unrealized depreciation

 

(925,710)

Net unrealized appreciation

$

557,252