0001752724-24-031461.txt : 20240221 0001752724-24-031461.hdr.sgml : 20240221 20240221132225 ACCESSION NUMBER: 0001752724-24-031461 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240221 DATE AS OF CHANGE: 20240221 PERIOD START: 20240930 FILER: COMPANY DATA: COMPANY CONFORMED NAME: World Funds Trust CENTRAL INDEX KEY: 0001396092 ORGANIZATION NAME: 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: 24658017 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 S000030539 Union Street Partners Value Fund C000094720 Class A Shares USPVX C000100111 Class C Shares USPCX C000165788 Advisor Class Shares USPFX NPORT-P 1 primary_doc.xml NPORT-P false 0001396092 XXXXXXXX S000030539 C000100111 C000165788 C000094720 World Funds Trust 811-22172 0001396092 5493007BOSPYEMKSSY03 8730 Stony Point Parkway Suite 205 Richmond 23235 800-673-0550 Union Street Partners Value Fund S000030539 54930024H5Q0C2NOV623 2024-09-30 2023-12-31 N 74858519.68 6541.12 74851978.56 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 SCHLUMBERGER LTD N/A Schlumberger Ltd. 806857108 49500.00000000 NS USD 2575980.00000000 3.441432076421 Long EC CORP US N 1 N N N BOEING CO/THE N/A The Boeing Co. 097023105 14200.00000000 NS USD 3701372.00000000 4.944922059786 Long EC CORP US N 1 N N N EXXON MOBIL CORP N/A Exxon Mobil Corp. 30231G102 24700.00000000 NS USD 2469506.00000000 3.299186003507 Long EC CORP US N 1 N N N CHEVRON CORP N/A Chevron Corp. 166764100 14000.00000000 NS USD 2088240.00000000 2.789826054265 Long EC CORP US N 1 N N N Default N/A Bayer AG 072730302 183000.00000000 NS USD 1689090.00000000 2.256573617016 Long EC CORP US N 1 N N N MICROSOFT CORP N/A Microsoft Corp. 594918104 19620.00000000 NS USD 7377904.80000000 9.856659692817 Long EC CORP US N 1 N N N Default N/A Kenvue, Inc. 49177J102 79800.00000000 NS USD 1718094.00000000 2.295322091750 Long EC CORP US N 1 N N N JPMORGAN CHASE N/A JPMorgan Chase & Co. 46625H100 25000.00000000 NS USD 4252500.01000000 5.681212563527 Long EC CORP US N 1 N N N MERCK & CO N/A Merck & Company, Inc. 58933Y105 13420.00000000 NS USD 1463048.40000000 1.954588814011 Long EC CORP US N 1 N N N HOME DEPOT INC N/A Home Depot, Inc. 437076102 5750.00000000 NS USD 1992662.50000000 2.662137378777 Long EC CORP US N 1 N N N FACEBOOK INC-A N/A META Platforms, Inc. 30303M102 14750.00000000 NS USD 5220910.00000000 6.974979286372 Long EC CORP US N 1 N N N APPLE INC N/A Apple, Inc. 037833100 29250.00000000 NS USD 5631502.50000000 7.523518560682 Long EC CORP US N 1 N N N DOLLAR TREE INC N/A Dollar Tree, Inc. 256746108 24650.00000000 NS USD 3501532.50000000 4.677942477089 Long EC CORP US N 1 N N N CVS HEALTH CORP N/A CVS Health Corp. 126650100 22000.00000000 NS USD 1737120.00000000 2.320740257530 Long EC CORP US N 1 N N N DIAGEO PLC-ADR N/A Diageo plc 25243Q205 15000.00000000 NS USD 2184900.00000000 2.918960917310 Long EC CORP GB N 1 N N N WALT DISNEY CO N/A The Walt Disney Co. 254687106 25000.00000000 NS USD 2257250.00000000 3.015618348940 Long EC CORP US N 1 N N N SIMON PROPERTY N/A Simon Property Group, Inc. 828806109 16900.00000000 NS USD 2410616.00000000 3.220510728474 Long EC CORP US N 1 N N N BANK OF AMERICA N/A Bank of America Corp. 060505104 52350.00000000 NS USD 1762624.50000000 2.354813505146 Long EC CORP US N 1 N N N Default N/A LVMH Moet Hennessy Louis Vuitton SE 502441306 12150.00000000 NS USD 1973767.50000000 2.636894225070 Long EC CORP US N 1 N N N PG&E CORP N/A PG&E Corp. 69331C108 153500.00000000 NS USD 2767605.00000000 3.697437333311 Long EC CORP US N 1 N N N JOHNSON&JOHNSON N/A Johnson & Johnson 478160104 6788.00000000 NS USD 1063951.12000000 1.421406809102 Long EC CORP US N 1 N N N GOLDMAN SACHS GP N/A Goldman Sachs Group, Inc. 38141G104 5300.00000000 NS USD 2044581.00000000 2.731498938750 Long EC CORP US N 1 N N N FEDEX CORP N/A FedEx Corp. 31428X106 12100.00000000 NS USD 3060937.00000000 4.089320093985 Long EC CORP US N 1 N N N INTEL CORP N/A Intel Corp. 458140100 63900.00000000 NS USD 3210975.00000000 4.289766365261 Long EC CORP US N 1 N N N Default N/A Fidelity Government Portfolio 316175108 4970289.02000000 NS USD 4970289.02000000 6.640157168345 Long STIV RF US N 1 N N N TARGET CORP N/A Target Corp. 87612E106 11600.00000000 NS USD 1652072.00000000 2.207118678467 Long EC CORP US N 1 N N N 2024-02-05 World Funds Trust Ann MacDonald Ann MacDonald Principal Financial Officer XXXX NPORT-EX 2 221.htm CFS_221_20231231_20240215192908699.pdf

 

Union Street Partners Value Fund

 

 

Schedule of Investments

december 31, 2023 (unaudited)

 

 

 

 

Shares

Value

93.26%

COMMON STOCK

 

 

 

 

9.99%

COMMUNICATION SERVICES

 

 

 

 

 

META Platforms, Inc.(A) . . . . . . . .

.

14,750

$ 5,220,910

 

The Walt Disney Co . . . . . . . . .

.

25,000

2,257,250

 

 

 

 

7,478,160

5.30%

CONSUMER DISCRETIONARY

 

 

 

 

 

Home Depot, Inc. . . . . . . . . . .

.

5,750

1,992,662

 

LVMH Moet Hennessy Louis Vuitton SE

. .

12,150

1,973,767

 

 

 

 

3,966,429

12.10%

CONSUMER STAPLES

 

 

 

 

 

Diageo plc ADR . . . . . . . . . . .

.

15,000

2,184,900

 

Dollar Tree, Inc.(A) . . . . . . . . . .

. .

24,650

3,501,533

 

Kenvue, Inc. . . . . . . . . . . . .

. .

79,800

1,718,094

 

Target Corp. . . . . . . . . . . . .

. .

11,600

1,652,072

 

 

 

 

9,056,599

9.53%

ENERGY

 

 

 

 

 

Chevron Corp. . . . . . . . . . . .

. .

14,000

2,088,240

 

Exxon Mobil Corp. . . . . . . . . . .

.

24,700

2,469,506

 

Schlumberger Ltd. . . . . . . . . . .

.

49,500

2,575,980

 

 

 

 

7,133,726

10.77%

FINANCIALS

 

 

 

 

 

Bank of America Corp. . . . . . . . .

.

52,350

1,762,624

 

Goldman Sachs Group, Inc. . . . . . .

.

5,300

2,044,581

 

JPMorgan Chase & Co. . . . . . . .

. .

25,000

4,252,500

 

 

 

 

8,059,705

7.95%

HEALTH CARE

 

 

 

 

 

Bayer AG ADR . . . . . . . . . . .

. .

183,000

1,689,090

 

CVS Health Corp. . . . . . . . . . .

.

22,000

1,737,120

 

Johnson & Johnson . . . . . . . . .

.

6,788

1,063,951

 

Merck & Company, Inc. . . . . . . .

. .

13,420

1,463,048

 

 

 

 

5,953,209

1

QUARTERLY REPORT

 

Union Street Partners Value Fund

 

 

 

Schedule of Investments - continued

 

December 31, 2023 (unaudited)

 

 

 

 

 

Shares

 

Value

9.03%

INDUSTRIALS

 

 

 

 

 

 

 

The Boeing Co.(A) . . . . . . . . . .

.

.

14,200

$

3,701,372

 

FedEx Corp. . . . . . . . . . . . .

.

.

12,100

 

3,060,937

 

 

 

 

 

 

6,762,309

21.67%

INFORMATION TECHNOLOGY

 

 

 

 

 

 

 

Apple, Inc. . . . . . . . . . . . . .

.

.

29,250

 

5,631,502

 

Intel Corp. . . . . . . . . . . . . .

.

.

63,900

 

3,210,975

 

Microsoft Corp. . . . . . . . . . .

.

.

19,620

 

7,377,905

 

 

 

 

 

 

16,220,382

3.22%

REAL ESTATE

 

 

 

 

 

 

 

Simon Property Group, Inc. . . . . .

.

.

16,900

 

2,410,616

3.70%

UTILITIES

 

 

 

 

 

 

 

PG&E Corp. . . . . . . . . . . . .

.

.

153,500

 

2,767,605

93.26%

TOTAL COMMON STOCK . . . . . . . . . . . . . . .

 

69,808,740

6.64%

MONEY MARKET FUND

 

 

 

 

 

 

 

Fidelity Government Portfolio 5.250%(B)

.

.

4,970,289

 

4,970,289

99.90%

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

 

74,779,029

0.10%

Assets net of liabilities . . . . . . . . . . . . . . . . .

 

72,950

100.00%

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

$

74,851,979

(A)Non-income producing

(B)Effective 7 day yield as of December 31,2023

2

QUARTERLY REPORT

Union Street Partners Value Fund

Schedule of Investments - continued

December 31, 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 December 31, 2023:

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

 

 

Other

 

 

 

 

 

 

 

Significant

 

 

Significant

 

 

Quoted

 

Observable

 

Unobservable

 

 

Prices

 

 

Inputs

 

 

Inputs

Total

Common Stocks . . . . . .

$69,808,740

$

—

$

—

$69,808,740

Money Market Fund . . . . .

4,970,289

 

 

—

 

 

—

4,970,289

Total Investments . . . . . .

$74,779,029

$

—

$

—

$74,779,029

 

 

 

 

 

 

 

 

 

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 December 31, 2023.

At December 31, 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 $37,724,547 and the related tax-based net unrealized appreciation (depreciation) consists of:

Gross unrealized appreciation . . .

$ 37,903,405

 

Gross unrealized depreciation . . .

(848,923)

Net unrealized appreciation . . . .

$ 37,054,482

 

 

 

 

3

QUARTERLY REPORT