# EDGAR Filing Document

**Accession Number:** 0001602508
**File Stem:** 0001145549-23-006373
**Filing Date:** 2023-2
**Character Count:** 21129
**Document Hash:** ce03c8ddf1076b8cc545b169c4435f2b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-006373.hdr.sgml**: 20230213

**ACCESSION NUMBER**: 0001145549-23-006373

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230213

**DATE AS OF CHANGE**: 20230213

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FundX Investment Trust
- **CENTRAL INDEX KEY:** 0001602508
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22951
- **FILM NUMBER:** 23616597

**BUSINESS ADDRESS:**
- **STREET 1:** 101 MONTGOMERY STREET, SUITE 2400
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94104-4138
- **BUSINESS PHONE:** 415-986-7979

**MAIL ADDRESS:**
- **STREET 1:** 2020 EAST FINANCIAL WAY, SUITE 100
- **CITY:** GLENDORA
- **STATE:** CA
- **ZIP:** 91741

## Series and Classes Contracts Data

### FundX Conservative Upgrader Fund (Series ID: S000045558)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000141814 | FundX Conservative Upgrader Fund | RELAX           |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **FUNDX CONSERVATIVE UPGRADER FUND** | **FUNDX CONSERVATIVE UPGRADER FUND** |  | |
| SCHEDULE OF INVESTMENTS AT DECEMBER 31, 2022 (UNAUDITED) | SCHEDULE OF INVESTMENTS AT DECEMBER 31, 2022 (UNAUDITED) | SCHEDULE OF INVESTMENTS AT DECEMBER 31, 2022 (UNAUDITED) |  |
| **Shares** |  |  | **Value** |
|  |  | **Investment Companies: 98.5%** |  |
|  |  | **Bond Funds**: |  |
| 98039 |  | Carillon Reams Unconstrained Bond Fund - Class I | $1158824 |
| 25500 |  | iShares iBoxx High Yield Corporate Bond ETF | 1877565 |
| 45500 |  | iShares Short Treasury Bond ETF | 5001360 |
| 20500 |  | Janus Henderson AAA CLO ETF | 1009830 |
| 32000 |  | JPMorgan Ultra-Short Income ETF | 1604160 |
| 181125 |  | Osterweis Strategic Income Fund - Institutional Class | 1871020 |
| 10200 |  | PIMCO Enhanced Short Maturity Active ETF | 1006230 |
|  |  | **Total Bond Funds 19.6%** | 13528989 |
|  |  | **Core Funds**: |  |
| 45500 |  | First Trust Dorsey Wright Focus 5 ETF | 2118025 |
| 45000 |  | First Trust Morningstar Dividend Leaders Index Fund | 1645200 |
| 35900 |  | Invesco S&P 500 Low Volatility ETF | 2294010 |
| 29900 |  | Invesco S&P 500 Pure Value ETF | 2331602 |
| 20700 |  | iShares Core High Dividend ETF | 2157768 |
| 18900 |  | iShares Select Dividend ETF | 2279340 |
| 16700 |  | SPDR S&P Dividend ETF | 2089337 |
| 23000 |  | Vanguard High Dividend Yield ETF | 2488830 |
| 25000 |  | WisdomTree U.S. High Dividend Fund | 2151500 |
| 33000 |  | WisdomTree U.S. LargeCap Dividend Fund | 2044350 |
|  |  | **Total Core Funds 31.3%** | 21599962 |
|  |  | **Total Return Funds**: |  |
| 55200 |  | Core Alternative ETF | 1743216 |
| 445545 |  | Gabelli ABC Fund - Advisor Class | 4446535 |
| 94035 |  | Permanent Portfolio - Class I | 4365097 |
| 493963 |  | PIMCO RAE Fundamental Advantage PLUS Fund - Institutional Class | 4529638 |
| 355987 |  | PIMCO TRENDS Managed Futures Strategy Fund - Institutional Class | 3994175 |
| 425331 |  | Putnam Multi-Asset Absolute Return Fund - Class Y | 3870510 |
| 223953 |  | The Merger Fund - Institutional Class | 3740018 |
| 500419 |  | Vanguard Market Neutral Fund - Investor Class | 6200189 |
|  |  | **Total Total Return Funds 47.6%** | 32889378 |
|  |  | **Total Investment Companies** |  |
|  |  | (Cost $68,391,007) | 68018329 |
|  |  | **Short-Term Investments: 1.7%** |  |
| 1189216 |  | Fidelity Investments Money Market Government Portfolio - Institutional Class, 4.06%# | 1189216 |
|  |  | **Total Short-Term Investments** |  |
|  |  | (Cost $1,189,216) | 1189216 |
|  |  | **Total Investments: 100.2%** |  |
|  |  | (Cost $69,580,223) | 69207545 |
|  |  | Liabilities in Excess of Other Assets: (0.2)% | (112697) |
|  |  | **Net Assets: 100.0%** | $69094848 |
|  | # | Annualized seven-day yield as of December 31, 2022. |  |

---

------

---

| |
|:---|
| Summary of Fair Value Disclosure |
| December 31, 2022 (Unaudited) |
| Investments of the FundX Conservative Fund (the "Fund") in open-end mutual funds are valued at their respective net asset values on the valuation date. Security valuations for the Fund's investments in investment companies are furnished by an independent pricing service that has been approved by the Fund's Board of Trustees. All equity securities that are traded on a national securities exchange, except those listed on the NASDAQ Global Market<sup>®</sup> ("NASDAQ"), are valued at the last reported sale price on the exchange on which the security is principally traded. Securities traded on NASDAQ will be valued at the NASDAQ Official Closing Price ("NOCP"). If, on a particular day, an exchange-traded or NASDAQ security does not trade, then the mean between the most recent quoted bid and asked prices will be used. All equity securities that are not traded on a listed exchange are valued at the last sale price in the over-the-counter market. If a non-exchange traded security does not trade on a particular day, then the mean between the last quoted closing bid and asked price will be used. |
| Short-term securities that have maturities of less than 60 days, at time of purchase, are valued at amortized cost, which when combined with accrued interest, approximates market value. |
| Exchange traded options are valued at the composite price, using the National Best Bid and Offer quotes ("NBBO"). NBBO consists of the highest bid price and lowest ask price across any of the exchanges on which an option is quoted, thus providing a view across the entire U.S. options marketplace. Composite option pricing calculates the mean of the highest bid price and lowest ask price across the exchanges where the option is traded. |
| Securities for which quotations are not readily available are valued at their respective fair values as determined in good faith or under the direction of the Board of Trustees. When a security is "fair valued," consideration is given to the facts and circumstances relevant to the particular situation, including a review of various factors set forth in the pricing procedures adopted by the Fund's Board of Trustees. Fair value pricing is an inherently subjective process, and no single standard exists for determining fair value. Different funds could reasonably arrive at different values for the same security. The use of fair value pricing by the fund may cause the net asset value of its shares to differ significantly from the net asset value that would be calculated without regard to such considerations. As of December 31, 2022, the Fund held one fair valued securities. |
| The Fund may utilize various methods to measure the fair value of some of its investments. U.S. GAAP establishes a hierarchy that prioritizes inputs to valuations methods. The three levels of inputs are: |
| Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.<br> 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.<br> 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 would be based on the best information available. |
| The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. |
| The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety. |
| The following is a summary of the inputs used to value the Fund's investments as of December 31, 2022: |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FundX Conservative Upgrader Fund** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Investment Companies | $63571794 | $4446535 | $- | $68018329 |
| Short-Term Investments | 1189216 | - | - | 1189216 |
| **Total Investments in Securities** | $64761010 | $4446535 | $- | $69207545 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** FundX Investment Trust

- **b. Investment Company Act file number:** 811-22951

- **c. CIK number of Registrant:** 0001602508

- **d. LEI of Registrant:** 549300OH1TJRAZ676P57

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 101 Montgomery Street

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94104

  - **Telephone number:** 415-248-8371

**Item A.2. Information about the Series.**

- **a. Name of Series:** FundX Conservative Upgrader Fund

- **b. EDGAR series identifier (if any):** S000045558

- **c. LEI of Series:** 549300ULSO9HE0FC5O93

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $69234253.64

**Total Liabilities:** $135510.51

**Net Assets:** $69098743.13

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000141814 | 3.71%                | 0.91%                | -1.09%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-818712.36              | $3387514.02                                |
| Month 2  | $-974148.76              | $1640771.64                                |
| Month 3  | $-204310.20              | $-1979879.66                               |

### Schedule of Portfolio Investments

| Name                           | Title                                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Carillon Reams Unconstrained B | Carillon Reams Unconstrained Bond Fund                                          | CUSIP: 14214M724<br>LEI: 549300MVU3XYYWJ6RX19 | Long             | EC               | RF                | US        |     98039 | NS      | $1158823.53   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Government Portfolio  | Fidelity Government Portfolio                                                   | CUSIP: 316175108<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1189216 | NS      | $1189215.74   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| First Trust Exchange-Traded Fu | First Trust Exchange-Traded Fund-First Trust Morningstar Dividend Leaders Index | CUSIP: 336917109<br>LEI: 549300ORBKW77UZM6H07 | Long             | EC               | RF                | US        |     45000 | NS      | $1645200.00   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| First Trust Dorsey Wright Focu | First Trust Dorsey Wright Focus 5 ETF                                           | CUSIP: 33738R605<br>LEI: 549300JOTP3OPVVFZL06 | Long             | EC               | RF                | US        |     45500 | NS      | $2118025.00   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Gabelli ABC Fund               | Gabelli ABC Fund                                                                | CUSIP: 36239V207<br>LEI: 549300D66VNCICVQGO10 | Long             | EC               | RF                | US        |    445545 | NS      | $4446534.65   | 6.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco Exchange-Traded Fund T | Invesco Exchange-Traded Fund Trust - Invesco S&P 500 Pure Value ETF             | CUSIP: 46137V258<br>LEI: 5493005UIJUTBBZG8B08 | Long             | EC               | RF                | US        |     29900 | NS      | $2331602.00   | 3.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco S&P 500 Low Volatility | Invesco S&P 500 Low Volatility ETF                                              | CUSIP: 46138E354<br>LEI: 549300FATA6ZCF8G1744 | Long             | EC               | RF                | US        |     35900 | NS      | $2294010.00   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Select Dividend ETF    | iShares Select Dividend ETF                                                     | CUSIP: 464287168<br>LEI: 549300NTKYSVK7SH3145 | Long             | EC               | RF                | US        |     18900 | NS      | $2279340.00   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares iBoxx High Yield Corpo | iShares iBoxx High Yield Corporate Bond ETF                                     | CUSIP: 464288513<br>LEI: N/A                  | Long             | EC               | RF                | US        |     25500 | NS      | $1877565.00   | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Short Treasury Bond ET | iShares Short Treasury Bond ETF                                                 | CUSIP: 464288679<br>LEI: 549300F8ZJ4IZLOOBP30 | Long             | EC               | RF                | US        |     45500 | NS      | $5001360.00   | 7.24%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core High Dividend ETF | iShares Core High Dividend ETF                                                  | CUSIP: 46429B663<br>LEI: 549300M7WVLJWAVPDO86 | Long             | EC               | RF                | US        |     20700 | NS      | $2157768.00   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Ultra-Short Income ET | JPMorgan Ultra-Short Income ETF                                                 | CUSIP: 46641Q837<br>LEI: 549300VN24B8TQAGGX74 | Long             | EC               | RF                | US        |     32000 | NS      | $1604160.00   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson AAA CLO ETF    | Janus Henderson AAA CLO ETF                                                     | CUSIP: 47103U845<br>LEI: 549300N7UZ9PO4OVKA94 | Long             | EC               | RF                | US        |     20500 | NS      | $1009830.00   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Alternative ETF           | Core Alternative ETF                                                            | CUSIP: 53656F847<br>LEI: 549300HV7MXUYV9GHP07 | Long             | EC               | RF                | US        |     55200 | NS      | $1743216.00   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Merger Fund/The                | Merger Fund/The                                                                 | CUSIP: 589509207<br>LEI: 549300TXJCENVSEMYP88 | Long             | EC               | RF                | US        |    223953 | NS      | $3740018.09   | 5.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Permanent Portfolio            | Permanent Portfolio                                                             | CUSIP: 714199106<br>LEI: N/A                  | Long             | EC               | RF                | US        |     94035 | NS      | $4365097.09   | 6.32%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO RAE Fundamental Advantag | PIMCO RAE Fundamental Advantage PLUS Fund                                       | CUSIP: 72201F110<br>LEI: 7QYFIQP34NJNMEYP7U11 | Long             | EC               | RF                | US        |    493963 | NS      | $4529637.76   | 6.56%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO Enhanced Short Maturity  | PIMCO Enhanced Short Maturity Active Exchange-Traded Fund                       | CUSIP: 72201R833<br>LEI: VOYE9Z80GB9431LFS645 | Long             | EC               | RF                | US        |     10200 | NS      | $1006230.00   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO TRENDS Managed Futures S | PIMCO TRENDS Managed Futures Strategy Fund                                      | CUSIP: 72201U455<br>LEI: 549300S81G7J3BKSIV79 | Long             | EC               | RF                | US        |    355987 | NS      | $3994174.76   | 5.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Osterweis Strategic Income Fun | Osterweis Strategic Income Fund                                                 | CUSIP: 742935489<br>LEI: N/A                  | Long             | EC               | RF                | US        |    181125 | NS      | $1871020.02   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Putnam Multi-Asset Absolute Re | Putnam Multi-Asset Absolute Return Fund                                         | CUSIP: 746764257<br>LEI: 54930063MZOBFIL7WY32 | Long             | EC               | RF                | US        |    425331 | NS      | $3870510.40   | 5.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P Dividend ETF          | SPDR S&P Dividend ETF                                                           | CUSIP: 78464A763<br>LEI: 5493004N0SIW5NZBWC90 | Long             | EC               | RF                | US        |     16700 | NS      | $2089337.00   | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard High Dividend Yield E | Vanguard High Dividend Yield ETF                                                | CUSIP: 921946406<br>LEI: N/A                  | Long             | EC               | RF                | US        |     23000 | NS      | $2488830.00   | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Market Neutral Fund   | Vanguard Market Neutral Fund                                                    | CUSIP: 92205G104<br>LEI: QX57RZTNJSJ8LE9TYK31 | Long             | EC               | RF                | US        |    500419 | NS      | $6200189.61   | 8.97%             |  |  |  | No            |                  1 | On Loan: No      |
| WisdomTree US High Dividend Fu | WisdomTree US High Dividend Fund                                                | CUSIP: 97717W208<br>LEI: 549300S5RBS4XFLQTK76 | Long             | EC               | RF                | US        |     25000 | NS      | $2151500.00   | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| WisdomTree US LargeCap Dividen | WisdomTree US LargeCap Dividend Fund                                            | CUSIP: 97717W307<br>LEI: 549300LN7CBL6TV5KI77 | Long             | EC               | RF                | US        |     33000 | NS      | $2044350.00   | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-09

**Name of Applicant:** FundX Investment Trust

**Signature:** /s/ Sean McKeon

**Name of Signer:** FundX Investment Trust

**Title:** Chief Compliance Officer / Principal Financial Officer