MSS Series Trust NPORT-PTowpath Technology Fund (Aug 2024 report)

Schedule of Investments

August 30, 2024 (unaudited)

Towpath Technology Fund

Shares or Principal

Security Description

Amount ($)

Fair Value ($)(1)

Common Stocks - 82.56%

Biological products (No Diagnostic Substances) - 1.59%

Biogen, Inc. (2)

440

90,094

Computer & Office Equipment - 3.69%

HP, Inc.

3,000

108,540

International Business Machines Corp.

500

101,065

209,605

Computer Communications Equipment - 3.02%

Cisco Systems, Inc.  

3,400

171,836

Computer Peripheral Equipment, NEC - 1.48%

Fortinet, Inc. (2)

1,100

84,381

Computer Storage Devices - 2.99%

NetApp, Inc.

1,410

170,215

Credit Services - 1.53%

PayPal Holdings, Inc. (2)

1,200

86,916

Electronic Computers - 4.63%

Apple, Inc.

1,150

263,350

Optical Instruments & Lenses - 3.75%

KLA Corp.

260

213,052

Retail-Catalog & Mail-Order Houses - 1.10%

Amazon.com, Inc. (2)

350

62,475

Semiconductors & Related Devices - 2.49%

Photronics, Inc. (2)

5,484

141,816

Services-Business Services - 6.19%

Accenture plc Class A (Ireland)

395

135,070

Alibaba Group Holding Ltd.

700

58,338

eBay, Inc.  

1,450

85,695

International Money Express, Inc. (2)

4,000

72,600

351,703

Services-Computer Integrated Systems Design - 0.06%

Open Text Corp.  (Canada)

100

3,182

Services-Computer Programming Services - 3.57%

Cognizant Technology Solutions Corp. Class A

1,520

118,210

VeriSign, Inc.  (2)

460

84,594

202,804

Services - Computer Programming, Data Processing, Etc. - 17.05%

Alphabet, Inc. Class A  (2)

2,710

442,760

Baidu, Inc. ADR  (2)

540

45,695

DXC Technology Co. (2)

3,700

76,479

Meta Platforms, Inc. Class A  

590

307,573

Zoom Video Communications, Inc.  (2)

1,400

96,712

969,219

Services-Management Consulting Services - 5.52%

Booz Allen Hamilton Holding Corp. Class A

650

103,207

CGI, Inc. Class A (Canada)  (2)

1,400

157,682

The Hackett Group, Inc.

1,993

52,815

313,704

Services - Prepackaged Software - 15.60%

Adobe, Inc. (2)

170

97,650

Check Point Software Technologies Ltd. (2)

1,230

236,775

DocuSign, Inc. (2)

1,200

71,052

DropBox, Inc. Class A (2)

5,600

140,784

Microsoft Corp.

310

129,313

Progress Software Corp.

2,200

127,930

Salesforce, Inc.

330

83,457

886,961

Ship & Boat Building & Repairing - 2.04%

Huntington Ingalls Industries, Inc.

410

115,936

Telephone Communications (No Radiotelephone) - 1.54%

Verizon Communications, Inc.

2,100

87,738

Wholesale-Electronic Parts & Equipment - 4.71%

Arrow Electronics, Inc. (2)

710

95,907

Ituran Location & Control Ltd. (Israel)

6,091

172,071

267,978

Total Common Stock

(Cost $          3,534,090)

4,692,965

Money Market Fund - 17.67%

Fidelity Institutional Money Market - Treasury Portfolio - Class I - 4.92% (3)

1,004,686

1,004,686

Total Money Market Fund

(Cost $           1,004,686)

1,004,686

Total Investments - 100.23%

(Cost $          4,538,775)

5,697,650

 Assets in Excess of Other Liabilities - (0.23%)

(12,948)

Total Net Assets - 100.00%

5,684,703

(1)  Statement on Financial Accounting Standard No. 157 "Fair Value Measurements" - Various inputs are used in determining the value of the Fund's investments.

       These inputs are summarized in the three broad levels listed below.

        • Level 1 - quoted prices in active markets for identical securities

        • Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

        • Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

       The following is a summary of the inputs used as of August 30, 2024 in valuing the Fund's assets carried at fair value:

Securities

$

5,697,650

$

-

-

$

5,697,650

$

       The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term

       debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment

       Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active

       market, such securities are reflected as Level 2.

(2)  Represents non-income producing securities.

(3)  Variable Rate Security: the Yield Rate shown represents the rate at August 30, 2024.