NPORT-EX 2 matrix-dividend.htm DIVIDEND FUND SOI AND NOTES

Matrix Advisors Dividend Fund
  
Schedule of Investments
  
September 30, 2025 (Unaudited)
  
   
COMMON STOCKS - 99.7%
  
Shares
    
Value
 
Aerospace/Defense - 3.1%
        
General Dynamics Corp.
    
5,000
    
$
1,705,000
  
                   
Bank (Money Center) - 5.2%
          
JPMorgan Chase & Co.
    
9,200
      
2,901,956
  
                   
Bank (Processing) - 3.8%
          
The Bank of New York Mellon Corp.
    
19,500
      
2,124,720
  
                   
Bank (Regional) - 8.8%
          
M&T Bank Corp.
    
10,600
      
2,094,772
  
The PNC Financial Services Group, Inc.
    
13,950
      
2,802,973
  
             
4,897,745
  
                   
Bank (Super Regional) - 4.7%
          
US Bancorp
    
53,700
      
2,595,321
  
                   
Beverages - 4.3%
          
PepsiCo, Inc.
    
17,100
      
2,401,524
  
                   
Biotechnology - 4.7%
          
Amgen, Inc.
    
9,300
      
2,624,460
  
                   
Building Material and Supplies Dealers - 4.8%
          
The Home Depot, Inc.
    
6,600
      
2,674,254
  
                   
Cable TV - 3.4%
          
Comcast Corp. - Class A
    
60,800
      
1,910,336
  
                   
Computer Software and Services - 8.1%
          
Microsoft Corp.
    
8,650
      
4,480,268
  
                   
Electric Power Generation, Transmission & Distribution - 4.8%
          
NextEra Energy, Inc.
    
35,300
      
2,664,797
  
                   
Electric Utility - 5.0%
          
American Electric Power Co., Inc.
    
24,550
      
2,761,875
  
                   
Food Products - 2.0%
          
Tyson Foods, Inc. - Class A
    
20,800
      
1,129,440
  
                   
Hotels, Restaurants & Leisure - 4.6%
          
Starbucks Corp.
    
30,000
      
2,538,000
  
                   
Manufacturing - 4.8%
          
Constellation Brands, Inc. - Class A
    
6,600
      
888,822
  
Lockheed Martin Corp.
    
3,500
      
1,747,235
  
             
2,636,057
  
                   
Medical - Biomedical - 4.6%
          
Medtronic PLC
    
27,000
      
2,571,480
  
                   
Packaged Food - 2.6%
          
Nestle SA - ADR
    
16,000
      
1,468,320
  
                   
Professional, Scientific, and Technical Services - 0.6%
          
Accenture PLC - Class A
    
1,300
      
320,580
  
                   
Retail Trade - 4.1%
          
Target Corp.
    
25,500
      
2,287,350
  
                   
Securities Brokerage - 4.8%
          
Morgan Stanley
    
16,600
      
2,638,736
  
                   
Semiconductor - 9.9%
          
QUALCOMM, Inc.
    
17,000
      
2,828,120
  
Texas Instruments, Inc.
    
14,500
      
2,664,085
  
             
5,492,205
  
                   
Telecommunications (Equipment) - 1.0%
          
Cisco Systems, Inc.
    
8,400
      
574,728
  
TOTAL COMMON STOCKS (Cost $41,304,216)
      
55,399,152
  
                   
SHORT-TERM INVESTMENTS
  
MONEY MARKET FUNDS - 0.2%
  
Shares
    
Value
 
First American Government Obligations Fund - Class X, 4.05%(a)
    
97,267
      
97,267
  
TOTAL MONEY MARKET FUNDS (Cost $97,267)
      
97,267
  
                   
TOTAL INVESTMENTS - 99.9% (Cost $41,401,483)
      
55,496,419
  
Other Assets in Excess of Liabilities - 0.1%
      
56,625
  
TOTAL NET ASSETS - 100.0%
0.0%
    
0.0
%
  
$
55,553,044
  
two
      
–
%
Percentages are stated as a percent of net assets.
      
–
%

ADR - American Depositary Receipt
PLC - Public Limited Company

(a)
The rate shown represents the 7-day annualized yield as of September 30, 2025.


Summary of Fair Value Disclosure as of September 30, 2025 (Unaudited)
 
Matrix Advisors Dividend Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has 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 Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of September 30, 2025:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
55,399,152
    
$
–
    
$
–
    
$
55,399,152
  
  Money Market Funds
    
97,267
      
–
      
–
      
97,267
  
Total Investments
  
$
55,496,419
    
$
–
    
$
–
    
$
55,496,419
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.