Top 10 Holdings as of 09-30-2019
Holding Percentage Holding Percentage
LUKOIL PJSC 9.24%   NOVATEK PJSC 4.15%
Sberbank of Russia PJSC 8.04%   Rosneft Oil Co. PJSC 1.72%
Gazprom PJSC ADR 7.60%   Polski Koncern Naftowy ORLEN SA 1.49%
MMC Norilsk Nickel PJSC 4.43%   X5 Retail Group NV 1.48%
TATNEFT PJSC ADR 4.34%   Powszechny Zaklad Ubezpieczen SA 1.47%
Industry Breakdown as of 09-30-2019
Sector Percentage Sector Percentage
Energy 37.69%   Financials 18.63%
Basic Materials 13.64%   Consumer Discretionary 8.58%
Consumer Staples 4.46%   Industrials 3.53%
Utilities 2.76%   Communications 2.74%
Diversified 2.22%   Technology 0.62%
Regional Breakdown as of 09-30-2019
Region Percentage Region Percentage
Russian Federation 54.25%   Turkey 11.76%
Poland 9.82%   Greece 6.27%
Hungary 2.63%   Romania 2.01%
Cyprus 1.45%   Germany 1.23%
Austria 0.82%   Czech Republic 0.49%
Canada 0.16%   Other 3.41%
Cash Equivalents 5.70%  

Net Asset Value
as of 11/11/2019

Global Resources Fund PSPFX $4.37 -0.02 Gold and Precious Metals Fund USERX $8.47 -0.06 World Precious Minerals Fund UNWPX $2.91 -0.03 China Region Fund USCOX $9.00 -0.17 Emerging Europe Fund EUROX $7.44 -0.05 All American Equity Fund GBTFX $25.33 -0.10 Holmes Macro Trends Fund MEGAX $16.77 -0.05 Near-Term Tax Free Fund NEARX $2.22 0.01 U.S. Government Securities Ultra-Short Bond Fund UGSDX $2.00 No Change