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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Value Line Funds (MM) | NASDAQ:ACDEX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
Scharf Fund
|
||||||
Schedule of Investments
|
||||||
December 31, 2012 (Unaudited)
|
||||||
Shares
|
COMMON STOCKS - 92.36%
|
Value
|
||||
Aerospace and Defense - 3.89%
|
||||||
15,953 |
Lockheed Martin Corp.
|
$ | 1,472,302 | |||
Automotive Parts and Accessories - Retail - 3.69%
|
||||||
19,320 |
Advance Auto Parts, Inc.
|
1,397,802 | ||||
Business Services - 2.00%
|
||||||
3,945 |
International Business Machines Corp.
|
755,665 | ||||
Computer and Electronic Product Manufacturing - 13.68%
|
||||||
4,698 |
Apple, Inc.
|
2,504,175 | ||||
71,315 |
NCR Corp. (a)
|
1,817,106 | ||||
1,215 |
Samsung Electronics Co., Ltd. (c)
|
856,575 | ||||
5,177,856 | ||||||
Conglomerates - 3.39%
|
||||||
14,307 |
Berkshire Hathaway, Inc. - Class B (a)
|
1,283,338 | ||||
Direct Health and Medical Insurance Carriers - 3.51%
|
||||||
25,000 |
Aflac, Inc.
|
1,328,000 | ||||
Drug Distribution - Wholesale - 3.90%
|
||||||
15,211 |
McKesson Corp.
|
1,474,859 | ||||
Drug Stores - 4.07%
|
||||||
31,899 |
CVS Caremark Corp.
|
1,542,317 | ||||
General Merchandise Stores - 2.36%
|
||||||
20,245 |
Dollar General Corp. (a)
|
892,602 | ||||
Gold Ore Mining - 4.56%
|
||||||
49,311 |
Barrick Gold Corp. (b)
|
1,726,378 | ||||
Life Science Tools - 2.70%
|
||||||
20,804 |
Life Technologies Corp. (a)
|
1,021,060 | ||||
Oil and Gas Support Services - 7.49%
|
||||||
11,500 |
Apache Corp.
|
902,750 | ||||
55,647 |
Halliburton Co.
|
1,930,394 | ||||
2,833,144 | ||||||
Petroleum Refining - 5.00%
|
||||||
10,833 |
Chevron Corp.
|
1,171,481 | ||||
13,826 |
Total SA - ADR
|
719,090 | ||||
1,890,571 | ||||||
Pharmaceutical Preparation and Manufacturing - 9.32%
|
||||||
6,939 |
Johnson & Johnson
|
486,424 | ||||
23,115 |
Novartis AG - ADR
|
1,463,180 | ||||
33,291 |
Sanofi - ADR
|
1,577,328 | ||||
3,526,932 | ||||||
Property and Casualty Insurance - 2.81%
|
||||||
30,177 |
American International Group, Inc. (a)
|
1,065,248 | ||||
Rail Transportation - 2.68%
|
||||||
9,991 |
Canadian Pacific Railway Ltd. (b)
|
1,015,285 | ||||
Restaurants - 1.20%
|
||||||
5,138 |
McDonalds Corp.
|
453,223 | ||||
Scientific Instrument Manufacturing - 3.10%
|
||||||
18,382 |
Thermo Fisher Scientific, Inc.
|
1,172,404 | ||||
Software Publishers - 9.24%
|
||||||
66,053 |
Microsoft Corp.
|
1,765,597 | ||||
51,944 |
Oracle Corp.
|
1,730,774 | ||||
3,496,371 | ||||||
Wireless Telecomm Carriers - 3.77%
|
||||||
56,682 |
Vodafone Group PLC - ADR
|
1,427,820 | ||||
TOTAL COMMON STOCKS (Cost $32,897,423)
|
34,953,177 | |||||
EXCHANGE-TRADED FUNDS - 1.84%
|
||||||
14,988 |
Market Vectors Gold Miners ETF
|
695,293 | ||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $707,665)
|
695,293 | |||||
MISCELLANEOUS INVESTMENTS - 3.56%
|
||||||
Miscellaneous Investments (d)
|
1,347,555 | |||||
TOTAL MISCELLANEOUS INVESTMENTS (Cost $1,287,703)
|
1,347,555 | |||||
Shares
|
SHORT-TERM INVESTMENTS - 13.03%
|
|||||
4,931,242 |
First American Tax Free Obligations - Class (e)(f)
|
4,931,242 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $4,931,242)
|
4,931,242 | |||||
Total Investments in Securities (Cost $39,824,033) - 110.79%
|
41,927,267 | |||||
Liabilities in Excess of Other Assets - (10.79)%
|
(4,084,996 | ) | ||||
NET ASSETS - 100.00%
|
$ | 37,842,271 |
Schedule of Options Written
|
||||||
December 31, 2012 (Unaudited)
|
||||||
OPTIONS WRITTEN
|
||||||
Options Written
(d)
|
$ | 80,280 | ||||
TOTAL
OPTIONS WRITTEN
(Premiums received $84,170)
|
$ | 80,280 |
ADR
|
American Depository Receipt
|
|
ETF
|
Exchange-Traded Fund
|
|
(a)
|
Non-income producing security.
|
|
(b)
|
U.S. traded security of a foreign issuer.
|
|
(c)
|
Foreign issuer.
|
|
(d)
|
Represents previously undisclosed securities which the Fund has held for less than one year.
|
|
(e)
|
Rate shown is the 7-day annualized yield as of December 31, 2012.
|
|
(f)
|
A portion of this security is pledged as collerteral for written options. |
Scharf Balanced Opportunity Fund
|
||||||
Schedule of Investments
|
||||||
December 31, 2012 (Unaudited)
|
||||||
Shares
|
COMMON STOCKS - 70.87%
|
Value
|
||||
Aerospace and Defense - 2.90%
|
||||||
2,224 |
Lockheed Martin Corp.
|
$ | 205,253 | |||
Automotive Parts and Accessories - Retail - 3.03%
|
||||||
2,964 |
Advance Auto Parts, Inc.
|
214,445 | ||||
Business Services - 2.62%
|
||||||
968 |
International Business Machines Corp.
|
185,420 | ||||
Computer and Electronic Product Manufacturing - 6.62%
|
||||||
460 |
Apple, Inc.
|
245,194 | ||||
8,749 |
NCR Corp. (a)
|
222,925 | ||||
468,119 | ||||||
Conglomerates - 3.08%
|
||||||
2,423 |
Berkshire Hathaway, Inc. - Class B (a)
|
217,343 | ||||
Direct Health and Medical Insurance Carriers - 2.98%
|
||||||
3,968 |
Aflac, Inc.
|
210,780 | ||||
Drug Distribution - Wholesale - 3.33%
|
||||||
2,424 |
McKesson Corp.
|
235,031 | ||||
Drug Stores - 3.29%
|
||||||
4,818 |
CVS Caremark Corp.
|
232,950 | ||||
General Merchandise Stores - 1.39%
|
||||||
2,227 |
Dollar General Corp. (a)
|
98,189 | ||||
Gold Ore Mining - 2.30%
|
||||||
4,645 |
Barrick Gold Corp. (b)
|
162,622 | ||||
Investment Banking and Brokerage - 3.36%
|
||||||
11,396 |
Goldman Sachs Group, Inc.
|
237,721 | ||||
Life Science Tools - 1.70%
|
||||||
2,445 |
Life Technologies Corp. (a)
|
120,001 | ||||
Oil and Gas Support Services - 4.50%
|
||||||
1,123 |
Apache Corp.
|
88,156 | ||||
6,635 |
Halliburton Co.
|
230,168 | ||||
318,324 | ||||||
Petroleum Refining - 4.77%
|
||||||
2,101 |
Chevron Corp.
|
227,202 | ||||
2,112 |
Total SA - ADR
|
109,845 | ||||
337,047 | ||||||
Pharmaceutical Preparation and Manufacturing - 7.90%
|
||||||
963 |
Johnson & Johnson
|
67,506 | ||||
4,200 |
Novartis AG - ADR
|
265,860 | ||||
4,751 |
Sanofi - ADR
|
225,102 | ||||
558,468 | ||||||
Property and Casualty Insurance - 1.77%
|
||||||
3,535 |
American International Group, Inc. (a)
|
124,786 | ||||
Rail Transportation - 1.86%
|
||||||
1,292 |
Canadian Pacific Railway Ltd. (b)
|
131,293 | ||||
Restaurants - 2.16%
|
||||||
1,730 |
McDonald's Corp.
|
152,603 | ||||
Scientific Instrument Manufacturing - 2.67%
|
||||||
2,955 |
Thermo Fisher Scientific, Inc.
|
188,470 | ||||
Software Publishers - 5.98%
|
||||||
7,710 |
Microsoft Corp.
|
206,088 | ||||
6,494 |
Oracle Corp.
|
216,380 | ||||
422,468 | ||||||
Wireless Telecomm Carriers - 2.66%
|
||||||
7,463 |
Vodafone Group PLC - ADR
|
187,993 | ||||
TOTAL COMMON STOCKS (Cost $4,044,881)
|
5,009,326 | |||||
EXCHANGE-TRADED FUNDS - 1.15%
|
||||||
1,749 |
Market Vectors Gold Miners ETF
|
81,136 | ||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $95,303)
|
81,136 | |||||
Principal
|
||||||
Amount
|
CORPORATE BONDS - 0.44%
|
|||||
Communication Equipment - 0.44%
|
||||||
Nokia Corp. - ADR
|
||||||
$ | 33,000 |
5.375%, 5/15/2019
|
31,350 | |||
TOTAL CORPORATE BONDS (Cost $31,120)
|
31,350 | |||||
Shares
|
SHORT-TERM INVESTMENTS - 27.54%
|
|||||
1,946,588 |
First American Tax Free Obligations Fund - Class Z, 0.00% (c)
|
1,946,588 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $1,946,588)
|
1,946,588 | |||||
Total Investments in Securities (Cost $6,117,892) - 100.00%
|
7,068,400 | |||||
Other Assets in Excess of Liabilities - 0.00%
|
226 | |||||
NET ASSETS - 100.00%
|
$ | 7,068,626 | ||||
ADR
|
American Depository Receipt
|
|||||
ETF
|
Exchange-Traded Fund
|
|||||
(a)
|
Non-income producing security.
|
|||||
(b)
|
U.S. traded security of a foreign issuer.
|
|||||
(c)
|
Rate shown is the 7-day annualized yield as of December 31, 2012.
|
·
|
Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the Funds have the ability to access.
|
·
|
Level 2 - Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
|
·
|
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Funds’ own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
|
Assets: |
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
Common Stocks
|
||||||||||||||||
Accommodation and Food
Services
|
$ | 453,223 | $ | - | $ | - | $ | 453,223 | ||||||||
Finance and Insurance
|
3,676,586 | - | - | 3,676,586 | ||||||||||||
Information
|
4,924,191 | - | - | 4,924,191 | ||||||||||||
Manufacturing
|
14,297,699 | - | - | 14,297,699 | ||||||||||||
Mining, Quarrying, and Oil
and Gas Extraction
|
5,278,613 | - | - | 5,278,613 | ||||||||||||
Retail Trade
|
5,307,579 | - | - | 5,307,579 | ||||||||||||
Transportation and
Warehousing
|
1,015,286 | - | - | 1,015,286 | ||||||||||||
Total Common Stocks
|
34,953,177 | - | - | 34,953,177 | ||||||||||||
Exchange-Traded Funds
|
695,293 | - | - | 695,293 | ||||||||||||
Miscellaneous Investments
|
1,347,555 | - | - | 1,347,555 | ||||||||||||
Short-Term Investments
|
4,931,242 | - | - | 4,931,242 | ||||||||||||
Total Assets in
Securities
|
$ | 41,927,267 | $ | - | $ | - | $ | 41,927,267 |
Liabilities: | ||||||||||||||||
Options Written
|
$ | 80,280 | $ | - | $ | - | $ | 80,280 | ||||||||
Total Liabilities
|
$ | 80,280 | $ | - | $ | - | $ | 80,280 |
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Common Stocks
|
||||||||||||||||
Accommodation and Food
Services
|
$ | 152,603 | $ | - | $ | - | $ | 152,603 | ||||||||
Finance and Insurance
|
790,630 | - | - | 790,630 | ||||||||||||
Information
|
610,462 | - | - | 610,462 | ||||||||||||
Manufacturing
|
1,952,933 | - | - | 1,952,933 | ||||||||||||
Mining, Quarrying, and Oil
and Gas Extraction
|
590,790 | - | - | 590,790 | ||||||||||||
Retail Trade
|
780,615 | - | - | 780,615 | ||||||||||||
Transportation and W
arehousing
|
131,293 | - | - | 131,293 | ||||||||||||
Total Common Stocks
|
5,009,326 | - | - | 5,009,326 | ||||||||||||
Exchange-Traded Funds
|
81,136 | - | - | 81,136 | ||||||||||||
Fixed Income
|
||||||||||||||||
Corporate Bonds
|
- | 31,350 | - | 31,350 | ||||||||||||
Total Fixed Income
|
- | 31,350 | - | 31,350 | ||||||||||||
Short-Term Investments
|
1,946,588 | - | - | 1,946,588 | ||||||||||||
Total Investments in
Securities
|
$ | 7,037,050 | $ | 31,350 | $ | - | $ | 7,068,400 |
Scharf Fund
|
||||||||
Contracts
|
Premiums Received
|
|||||||
Beginning Balance
|
- | $ | - | |||||
Options written
|
(8 | ) | (84,170 | ) | ||||
Outstanding at December 31, 2012
|
(8 | ) | $ | (84,170 | ) |
Assets
|
Liabilities
|
|||||||||
Derivatives not accounted for
as hedging instruments under ASC 815
|
Location
|
Fair Value
|
Location
|
Fair Value
|
||||||
Equity Contracts - Options
|
Investments,
at fair value
|
$ | 4,644 |
Options Written,
at fair value
|
$ | 80,280 | ||||
Total
|
$ | 4,644 |
Total
|
$ | 80,280 |
Cost of investments
|
$ | 39,833,709 | ||
Gross unrealized appreciation
|
2,749,904 | |||
Gross unrealized depreciation
|
(656,346 | ) | ||
Net unrealized depreciation
|
$ | 2,093,558 |
Cost of investments
|
$ | 6,117,892 | ||
Gross unrealized appreciation
|
$ | 1,034,158 | ||
Gross unrealized depreciation
|
(83,650 | ) | ||
Net unrealized appreciation
|
$ | 950,508 |
(a)
|
The Registrant’s President/Principal Executive Officer and Treasurer/Principal Financial Officer have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”))
(17 CFR
270.30a-3(c))
are effective as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act
(17 CFR 270.30a-3(b))
and Rule 13a-15(b) or Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended
(17 CFR 240.13a-15(b) or 240.15d-15(d))
.
|
(b)
|
There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act)
(17 CFR 270.30a-3(d))
that occurred during the Registrant's last fiscal quarter that has materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.
|
1 Year Value Line Funds (MM) Chart |
1 Month Value Line Funds (MM) Chart |
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