Top 10 Holdings as of 12-31-2018
Holding Percentage Holding Percentage
Lukoil PJSC 11.29%   Globaltrans Investment PLC 1.84%
Sberbank of Russia PJSC 8.41%   Evraz PLC 1.74%
Gazprom PJSC 5.84%   Novolipetsk Steel PJSC 1.74%
Tatneft PJSC 2.66%   Magnitogorsk Iron & Steel Works 1.69%
MOL Hungarian Oil & Gas PLC 1.95%   Aeroflot PJSC 1.65%
Industry Breakdown as of 12-31-2018
Sector Percentage Sector Percentage
Energy 27.92%   Financials 20.00%
Consumer Discretionary 13.50%   Basic Materials 10.73%
Consumer Staples 7.09%   Industrials 4.41%
Communications 3.16%   Utilities 2.94%
Funds 1.62%   Diversified 1.28%
Regional Breakdown as of 12-31-2018
Region Percentage Region Percentage
Russian Federation 42.67%   Poland 14.85%
Turkey 12.23%   Hungary 4.18%
Greece 3.49%   Germany 2.74%
Romania 2.59%   Cyprus 1.52%
Austria 1.15%   Czech Republic 0.98%

Net Asset Value
as of 02/15/2019

Global Resources Fund PSPFX $4.59 0.03 Gold and Precious Metals Fund USERX $7.51 0.15 World Precious Minerals Fund UNWPX $2.94 0.05 China Region Fund USCOX $8.11 -0.07 Emerging Europe Fund EUROX $6.48 0.05 All American Equity Fund GBTFX $24.03 0.18 Holmes Macro Trends Fund MEGAX $16.80 0.16 Near-Term Tax Free Fund NEARX $2.20 No Change U.S. Government Securities Ultra-Short Bond Fund UGSDX $2.00 No Change