# EDGAR Filing Document

**Accession Number:** 0001546416
**File Stem:** 0001752724-23-050519
**Filing Date:** 2023-3
**Character Count:** 20260
**Document Hash:** 310ebe4fc5d4787bce02f6e909bdaa43
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-050519.hdr.sgml**: 20230302

**ACCESSION NUMBER**: 0001752724-23-050519

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20220930

**FILED AS OF DATE**: 20230302

**DATE AS OF CHANGE**: 20230302

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** F/M Funds Trust
- **CENTRAL INDEX KEY:** 0001546416
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** OH

**FILING VALUES:**
- **FORM TYPE:** NPORT-P/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22691
- **FILM NUMBER:** 23697197

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ULTIMUS FUND SOLUTIONS, LLC
- **STREET 2:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-587-3400

**MAIL ADDRESS:**
- **STREET 1:** C/O ULTIMUS FUND SOLUTIONS, LLC
- **STREET 2:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Western Funds Trust
- **DATE OF NAME CHANGE:** 20120403

## Series and Classes Contracts Data

### F/m Investments Large Cap Focused Fund (Series ID: S000072896)

| Class ID   | Class Name                                                        | Ticker Symbol   |
|:---|:---|:---|
| C000229579 | F/m Investments Large Cap Focused Fund Institutional Class Shares |  |
| C000229580 | F/m Investments Large Cap Focused Fund Investor Class Shares      |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **F/M INVESTMENTS LARGE CAP FOCUSED FUND** | **F/M INVESTMENTS LARGE CAP FOCUSED FUND** | **F/M INVESTMENTS LARGE CAP FOCUSED FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **September 30, 2022 (Unaudited)** | **September 30, 2022 (Unaudited)** | **September 30, 2022 (Unaudited)** |
| **COMMON STOCKS - 95.3%** | **Shares** | **Value** |
| **Communications - 3.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;21140 | &nbsp;&nbsp;$2022041 |
| **Consumer Discretionary - 9.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. <sup>(a)</sup> | &nbsp;&nbsp;29090 | &nbsp;&nbsp;3287170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ford Motor Company | &nbsp;&nbsp;165641 | &nbsp;&nbsp;1855179 |
|  |  | &nbsp;&nbsp;5142349 |
| **Energy - 2.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SolarEdge Technologies, Inc. <sup>(a)</sup> | &nbsp;&nbsp;6365 | &nbsp;&nbsp;1473243 |
| **Financials - 8.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corporation | &nbsp;&nbsp;48290 | &nbsp;&nbsp;1458358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charles Schwab Corporation (The) | &nbsp;&nbsp;25210 | &nbsp;&nbsp;1811843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;5010 | &nbsp;&nbsp;1468180 |
|  |  | &nbsp;&nbsp;4738381 |
| **Health Care - 8.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AmerisourceBergen Corporation | &nbsp;&nbsp;10490 | &nbsp;&nbsp;1419612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals plc <sup>(a)</sup> | &nbsp;&nbsp;11460 | &nbsp;&nbsp;1527503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;3810 | &nbsp;&nbsp;1924202 |
|  |  | &nbsp;&nbsp;4871317 |
| **Industrials - 10.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;47350 | &nbsp;&nbsp;1464536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lockheed Martin Corporation | &nbsp;&nbsp;4850 | &nbsp;&nbsp;1873507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northrop Grumman Corporation | &nbsp;&nbsp;2845 | &nbsp;&nbsp;1338060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southwest Airlines Company <sup>(a)</sup> | &nbsp;&nbsp;41530 | &nbsp;&nbsp;1280785 |
|  |  | &nbsp;&nbsp;5956888 |
| **Materials - 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sherwin-Williams Company (The) | &nbsp;&nbsp;4860 | &nbsp;&nbsp;995085 |
| **Technology - 50.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adobe, Inc. <sup>(a)</sup> | &nbsp;&nbsp;4380 | &nbsp;&nbsp;1205376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advanced Micro Devices, Inc. <sup>(a)</sup> | &nbsp;&nbsp;37241 | &nbsp;&nbsp;2359590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;44355 | &nbsp;&nbsp;6129861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;2900 | &nbsp;&nbsp;1287629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Datadog, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;17503 | &nbsp;&nbsp;1553916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lam Research Corporation | &nbsp;&nbsp;3544 | &nbsp;&nbsp;1297104 |

---

---

| | | |
|:---|:---|:---|
| **F/M INVESTMENTS LARGE CAP FOCUSED FUND** | **F/M INVESTMENTS LARGE CAP FOCUSED FUND** | **F/M INVESTMENTS LARGE CAP FOCUSED FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 95.3% (Continued)** | **Shares** | **Value** |
| **Technology - 50.3% (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lattice Semiconductor Corporation <sup>(a)</sup> | &nbsp;&nbsp;21683 | &nbsp;&nbsp;$1067021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microchip Technology, Inc. | &nbsp;&nbsp;21124 | &nbsp;&nbsp;1289198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corporation | &nbsp;&nbsp;12838 | &nbsp;&nbsp;2989970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MongoDB, Inc. <sup>(a)</sup> | &nbsp;&nbsp;3361 | &nbsp;&nbsp;667360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monolithic Power Systems, Inc. | &nbsp;&nbsp;3360 | &nbsp;&nbsp;1221024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corporation | &nbsp;&nbsp;17005 | &nbsp;&nbsp;2064237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NXP Semiconductors N.V. | &nbsp;&nbsp;8076 | &nbsp;&nbsp;1191291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oracle Corporation | &nbsp;&nbsp;20840 | &nbsp;&nbsp;1272699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palo Alto Networks, Inc. <sup>(a)</sup> | &nbsp;&nbsp;8070 | &nbsp;&nbsp;1321785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Veeva Systems, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;7680 | &nbsp;&nbsp;1266278 |
|  |  | &nbsp;&nbsp;28184339 |
| **Total Common Stocks** (Cost $63,869,658) | **Total Common Stocks** (Cost $63,869,658) | &nbsp;&nbsp;$53383643 |
| **MONEY MARKET FUNDS - 4.8%** | **Shares** | **Value** |
| First American Treasury Obligations Fund - Class X, 2.88% <sup>(b)</sup> (Cost $2,699,169) | &nbsp;&nbsp;2699169 | &nbsp;&nbsp;$2699169 |
| **Total Investments at Value - 100.1%** (Cost $66,568,827) | **Total Investments at Value - 100.1%** (Cost $66,568,827) | &nbsp;&nbsp;$56082812 |
| **Liabilities in Excess of Other Assets - (0.1%)** | **Liabilities in Excess of Other Assets - (0.1%)** | &nbsp;&nbsp; (36186) |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$56046626 |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> The rate shown is the 7-day effective yield as of September 30, 2022.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** F/m Funds Trust

- **b. Investment Company Act file number:** 811-22691

- **c. CIK number of Registrant:** 0001546416

- **d. LEI of Registrant:** 549300AVVV2NK0Y3WY58

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

  - **Street Address 1:** 225 Pictoria Drive

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 513-587-3400

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

- **a. Name of Series:** F/M INVESTMENTS LARGE CAP FOCUSED FUND

- **b. EDGAR series identifier (if any):** S000072896

- **c. LEI of Series:** 549300O3C0Q0GT254653

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

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-09-30

**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:** $56104758.39

**Total Liabilities:** $58132.56

**Net Assets:** $56046625.83

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000229580 | 12.49%               | -5.30%               | -13.44%              |
| Class ID C000229579 | 12.50%               | -5.31%               | -13.36%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-412628.75              | $8301807.84                                |
| Month 2  | $16062.90                | $-3761877.44                               |
| Month 3  | $-676598.01              | $-8051618.55                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FIRST AMERN FDS INC               | First American Treasury Obligations Fund Class X | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   2699169 | PA      | $2699168.79   | 4.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                     | Alphabet, Inc. Class A                           | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     21140 | NS      | $2022041.00   | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaredge Technologies Inc        | SolarEdge Technologies, Inc.                     | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Long             | EC               | CORP              | US        |      6365 | NS      | $1473242.90   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| AmerisourceBergen Corporation     | AmerisourceBergen Corporation                    | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |     10490 | NS      | $1419611.70   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| The Sherwin-Williams Company      | Sherwin-Williams Company (The)                   | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |      4860 | NS      | $995085.00    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Company                | Ford Motor Company                               | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |    165641 | NS      | $1855179.20   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV             | NXP Semiconductors N.V.                          | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | US        |      8076 | NS      | $1191290.76   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB Inc.                      | MONGODB, INC.                                    | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |      3361 | NS      | $667360.16    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices, Inc.      | Advanced Micro Devices, Inc.                     | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     37241 | NS      | $2359589.76   | 4.21%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.           | UnitedHealth Group, Inc.                         | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      3810 | NS      | $1924202.40   | 3.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corporation       | Bank of America Corporation                      | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     48290 | NS      | $1458358.00   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                 | Veeva Systems, Inc. Class A                      | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      7680 | NS      | $1266278.40   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                        | Apple, Inc.                                      | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     44355 | NS      | $6129861.00   | 10.94%            |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                      | NVIDIA Corporation                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     17005 | NS      | $2064236.95   | 3.68%             |  |  |  | No            |                  1 | On Loan: No      |
| The Charles Schwab Corporation    | Charles Schwab Corporation (The)                 | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     25210 | NS      | $1811842.70   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corporation       | Lockheed Martin Corporation                      | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      4850 | NS      | $1873506.50   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corporation | Lattice Semiconductor Corporation                | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |     21683 | NS      | $1067020.43   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC          | Jazz Pharmaceuticals plc                         | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | US        |     11460 | NS      | $1527503.40   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corporation             | Microsoft Corporation                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     12838 | NS      | $2989970.20   | 5.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corporation      | Northrop Grumman Corporation                     | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      2845 | NS      | $1338060.40   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co.            | Southwest Airlines Company                       | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |     41530 | NS      | $1280785.20   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corporation          | Lam Research Corporation                         | CUSIP: 512807108<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      3544 | NS      | $1297104.00   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                      | Broadcom, Inc.                                   | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      2900 | NS      | $1287629.00   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Incorporated | Microchip Technology, Inc.                       | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     21124 | NS      | $1289197.72   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corporation                | Oracle Corporation                               | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     20840 | NS      | $1272698.80   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                        | Datadog, Inc. Class A                            | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     17503 | NS      | $1553916.34   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                  | Amazon.com, Inc.                                 | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     29090 | NS      | $3287170.00   | 5.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc              | Howmet Aerospace, Inc.                           | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     47350 | NS      | $1464535.50   | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                         | Adobe, Inc.                                      | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      4380 | NS      | $1205376.00   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc            | Palo Alto Networks, Inc.                         | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      8070 | NS      | $1321785.30   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc.     | Monolithic Power Systems, Inc.                   | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      3360 | NS      | $1221024.00   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.         | Goldman Sachs Group, Inc. (The)                  | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      5010 | NS      | $1468180.50   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-10-21

**Name of Applicant:** F/m Investments Large Cap Focused Equity Fund

**Signature:** Daniel Bauer

**Name of Signer:** Daniel Bauer

**Title:** VP, Fund Accounting