# EDGAR Filing Document

**Accession Number:** 0001066241
**File Stem:** 0001162044-23-000068
**Filing Date:** 2023-1
**Character Count:** 75062
**Document Hash:** 8c920df1596010e9a8ecec9d67da3687
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001162044-23-000068.hdr.sgml**: 20230113

**ACCESSION NUMBER**: 0001162044-23-000068

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230113

**DATE AS OF CHANGE**: 20230113

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SPARROW FUNDS
- **CENTRAL INDEX KEY:** 0001066241
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08897
- **FILM NUMBER:** 23527635

**BUSINESS ADDRESS:**
- **STREET 1:** 8500 MARYLAND AVENUE
- **STREET 2:** SUITE 743
- **CITY:** ST LOUIS
- **STATE:** MO
- **ZIP:** 63105
- **BUSINESS PHONE:** 3147256161

**MAIL ADDRESS:**
- **STREET 1:** 8500 MARYLAND AVENUE
- **STREET 2:** SUITE 743
- **CITY:** ST LOUIS
- **STATE:** MO
- **ZIP:** 63105

## Series and Classes Contracts Data

### Sparrow Growth Fund (Series ID: S000000502)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000001374 | Class A      | SGFFX           |
| C000001375 | No Load      | SGNFX           |
| C000109530 | Class C      | SGFCX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **November 30, 2022 (unaudited)** | **November 30, 2022 (unaudited)** | **November 30, 2022 (unaudited)** |
| **<u>Sparrow Growth Fund</u>** | **<u>Sparrow Growth Fund</u>** | **<u>Sparrow Growth Fund</u>** |
|  | **Shares or Principal** |  |
| **Security Description** | **Amount ($)** | **Fair Value ($)(1)** |
| **Common Stocks - 99.84%** | **Common Stocks - 99.84%** | **Common Stocks - 99.84%** |
| **Search, Detection, Navigation, Guidance, Aeronautical Sys - 0.14%** |  |  |
| Northrop Grumman Corp. | 110  | 58662  |
| **Accident & Health Insurance - 0.07%** |  |  |
| Principal Financial Group, Inc. | 315  | 28249  |
| **Air Courier Services - 0.09%** |  |  |
| FedEx Corp.  | 185  | 33711  |
| **Aircraft Engines & Engine Parts - 0.19%** |  |  |
| Honeywell International, Inc. | 325  | 71354  |
| **Apparel Stores - 0.19%** |  |  |
| TJX Companies, Inc.  | 880  | 70444  |
| **Application Software - 0.28%** |  |  |
| Intuit, Inc.  | 260  | 105973  |
| **Banks - 0.10%** |  |  |
| Goldman Sachs Group, Inc. | 100  | 38615  |
| **Beverages - 6.15%** |  |  |
| Coca-Cola Co. | 16410  | 1043840  |
| Constellation Brands, Inc.  | 95  | 24448  |
| Keurig Dr Pepper, Inc.  | 725  | 28036  |
| PepsiCo, Inc.  | 6670  | 1237352  |
|  |  | 2333676  |
| **Biological Products (No Diagnostic Substances) - 0.76%** |  |  |
| Amgen, Inc | 620  | 177568  |
| Gilead Sciences, Inc.  | 890  | 78169  |
| Moderna, Inc. (2) | 180  | 31664  |
|  |  | 287401  |
| **Bottled & Canned Soft Drinks Carbonated Waters - 0.85%** |  |  |
| Monster Beverage Corp. (2) | 3120  | 320923  |
| **Cable & Other Pay Television Services - 0.72%** |  |  |
| Charter Communications, Inc. (2) | 215  | 84127  |
| Comcast Corp.  | 3655  | 133919  |
| Walt Disney Co. (2) | 570  | 55786  |
|  |  | 273832  |
| **Canned, Frozen & Preserved Fruit, Veg & Food Specialties - 0.03%** |  |  |
| Kraft Heinz Co. | 330  | 12986  |
| **Computer & Office Equipment - 0.30%** |  |  |
| International Business Machines Corp. | 775  | 115398  |
| **Computer Peripheral Equipment - 0.01%** |  |  |
| Fortinet, Inc. (2) | 85  | 4519  |
| **Confectioners - 3.11%** |  |  |
| Hershey Co. | 5010  | 1178202  |
| **Construction Machinery & Equip - 0.14%** |  |  |
| Caterpillar, Inc.  | 220  | 52010  |
| **Converted Paper & Paperboard Prods (No Containers/Boxes) - 0.09%** |  |  |
| Kimberly-Clark Corp.  | 265  | 35942  |
| **Crude Petroleum & Natural Gas - 0.22%** |  |  |
| EOG Resources, Inc.  | 265  | 37611  |
| Occidental Petroleum Corp.  | 650  | 45169  |
|  |  | 82780  |
| **Drug Manufacturers - Major - 1.54%** |  |  |
| Johnson & Johnson | 3275  | 582950  |
| **Electric Services - 0.47%** |  |  |
| American Electric Power Co., Inc.  | 120  | 11616  |
| Dominion Energy, Inc.  | 200  | 12222  |
| Duke Energy Corp.  | 185  | 18487  |
| Exelon Corp. | 315  | 13032  |
| NextEra Energy, Inc | 1245  | 105451  |
| Southern Co.  | 255  | 17248  |
|  |  | 178056  |
| **Electronic Connectors - 0.13%** |  |  |
| Amphenol Corp. Class A | 590  | 47454  |
| **Electronic & Other Electrical Equipment - 0.11%** |  |  |
| Emerson Electric Co.  | 430  | 41181  |
| **Electronic Computers - 2.03%** |  |  |
| Apple, Inc. | 5210  | 771236  |
| **Farm Machinery & Equipment - 0.15%** |  |  |
| Deere & Co.  | 130  | 57330  |
| **Fats & Oils - 0.10%** |  |  |
| Archer Daniels Midland Co.  | 405  | 39488  |
| **Financial Services - 3.50%** |  |  |
| American Express Co.  | 7780  | 1226050  |
| Bank of America Corp.  | 2670  | 101060  |
|  |  | 1327110  |
| **Fire, Marine & Casualty Insurance - 3.34%** |  |  |
| Allstate Corp. | 275  | 36823  |
| American International Group, Inc.  | 890  | 56168  |
| Berkshire Hathaway, Inc. Class B (2) | 3305  | 1052973  |
| Progressive Corp. | 565  | 74665  |
| Travelers Companies, Inc. | 235  | 44605  |
|  |  | 1265234  |
| **Food & Kindred Products - 0.21%** |  |  |
| Mondelez International, Inc.  | 1190  | 80456  |
| **Gas & Other Services Combined - 0.03%** |  |  |
| Sempra Energy  | 75  | 12464  |
| **General Industrial Machinery & Equipment - 0.14%** |  |  |
| Illinois Tool Works, Inc.  | 235  | 53455  |
| **Grain Mill Products - 0.09%** |  |  |
| General Mill, Inc. | 400  | 34120  |
| **Heallth Care Plans - 0.14%** |  |  |
| Humana, Inc.  | 95  | 52241  |
| **Hospital & Medical Sercice Plans - 12.77%** |  |  |
| Elevance Health, Inc. | 125  | 66615  |
| Centene Corp. (2) | 415  | 36126  |
| Cigna Corp. | 3150  | 1036004  |
| United Health Group, Inc. | 6765  | 3705596  |
|  |  | 4844341  |
| **Hotels & Motels - 0.23%** |  |  |
| Hilton Worldwide Holdings, Inc. | 430  | 61327  |
| Marriott International, Inc.  | 160  | 26456  |
|  |  | 87783  |
| **Industrial Inorganic Chemicals - 0.09%** |  |  |
| Air Products and Chemicals, Inc.  | 105  | 32567  |
| **Industrial Instruments For Measurement - 0.54%** |  |  |
| Danaher Corp.  | 640  | 174982  |
| Roper Technologies, Inc. | 70  | 30722  |
|  |  | 205704  |
| **Insurance Agents Brokers & Services - 0.13%** |  |  |
| Marsh & McLenan Companies, Inc.  | 295  | 51088  |
| **Life Insurance- 0.16%** |  |  |
| MetLife, Inc.  | 785  | 60210  |
| **Luxury Goods - 0.69%** |  |  |
| LVMH Moet Hennessy Louis Vuitton SE | 1700  | 260100  |
| **Measuring & Controlling Devices, Nec- 0.53%** |  |  |
| Thermo Fisher Scientific, Inc.  | 360  | 201679  |
| **Medical Instruments & Supplies - 0.02%** |  |  |
| Intuitive Surgical, Inc. (2) | 25  | 6760  |
| **Metal Mining - 0.10%** |  |  |
| Freeport-McMoRan Inc.  | 965  | 38407  |
| **Money Center Banks - 0.29%** |  |  |
| Citigroup, Inc.  | 2285  | 110617  |
| **Motor Vehicles & Passenger car Bodies - 0.02%** |  |  |
| Tesla, Inc. (2) | 45  | 8762  |
| **National Commercial Banks- 0.76%** |  |  |
| PNC Financial Services Group, Inc.  | 415  | 69828  |
| Truist Financial Corp.  | 1000  | 46810  |
| US Bancorp  | 1425  | 64681  |
| Wells Fargo & Co. | 2255  | 108127  |
|  |  | 289446  |
| **Natural Gas Distribution - 0.14%** |  |  |
| Kinder Morgan, Inc. | 1450  | 27724  |
| Williams Companies, Inc. | 775  | 26893  |
|  |  | 54617  |
| **Oil&Gas - 1.07%** |  |  |
| Exxon Mobil Corp.  | 3650  | 406391  |
| **Optical Intrusments & lenses - 0.07%** |  |  |
| KLA Corp.  | 65  | 25555  |
| **Orthopedic, Prosthetic & Surgical Appliances & Supplies - 0.01%** |  |  |
| Edwards Lifesciences Corp. (2) | 50  | 3862  |
| **Perfumes, Cosmetics & Other Toliet Prepa - 0.33%** |  |  |
| Colgate Palmolive, Co.  | 620  | 48037  |
| Estee Lauder Companies, Inc | 325  | 76632  |
|  |  | 124669  |
| **Personal Products - 0.31%** |  |  |
| L'Oreal (2) | 1590  | 118312  |
| **Petroleum Refining- 4.49%** |  |  |
| Chevron Corp. | 7740  | 1418819  |
| Conoco Philips | 1495  | 184647  |
| Marathon Petroleum Corp.  | 495  | 60296  |
| Phillips 66  | 365  | 39581  |
|  |  | 1703343  |
| **Pharmaceutical Preparations - 10.56%** |  |  |
| Abbott Laboratories  | 1660  | 178583  |
| Abbvie, Inc  | 740  | 119273  |
| Bristol-Myers Squibb Co. | 14575  | 1170081  |
| Eli Lily & Co | 830  | 307997  |
| Merck & Co., Inc.  | 2235  | 246118  |
| Pfizer, Inc.  | 3115  | 156155  |
| Regeneron Pharmaceuticals, Inc. (2) | 50  | 37585  |
| Vertex Pharmaceuticals, Inc. (2) | 5450  | 1724380  |
| Zoetis, Inc.  | 430  | 66280  |
|  |  | 4006452  |
| **Radio & TV Broadcasting & Communications - 0.32%** |  |  |
| Qualcomm, Inc.  | 945  | 119533  |
| **Radio Telephone Communications - 0.15%** |  |  |
| T-Mobile US, Inc. (2) | 370  | 56040  |
| **Railroads, Line-haul Operating - 0.58%** |  |  |
| CSX Corp.  | 1545  | 50506  |
| Norfolk Southern Corp.  | 175  | 44888  |
| Union Pacific Corp.  | 575  | 125022  |
|  |  | 220416  |
| **Refuse Systems - 0.25%** |  |  |
| Republic Services, Inc. | 315  | 43876  |
| Waste Management, Inc. | 300  | 50316  |
|  |  | 94192  |
| **Retail - Eating Places - 4.52%** |  |  |
| McDonalds Corp.  | 6290  | 1715849  |
| **Retail - Auto Dealers & Gasoline Stations - 1.26%** |  |  |
| AutoNation, Inc. (2) | 3450  | 427490  |
| AutoZone, Inc. (2) | 20  | 51580  |
|  |  | 479070  |
| **Retail - Auto & Home Supply Stores- 0.15%** |  |  |
| O'Reilly Automotive, Inc. (2) | 65  | 56195  |
| **Retail - Building Materials, Hardware, Garden Supply - 0.12%** |  |  |
| Sherwin Williams Co . | 180  | 44852  |
| **Retail - Catalog & Mail-Order Houses - 0.44%** |  |  |
| Amazon.com, Inc. (2) | 1735  | 167497  |
| **Retail - Drug Stores And proprietary Store- 0.25%** |  |  |
| CVS Health Corp.  | 930  | 94748  |
| **Retail- Lumber & Other Building Materials - 0.39%** |  |  |
| Home Depot, Inc.  | 460  | 149035  |
| **Retail-Variety Stores - 8.38%** |  |  |
| Costco Wholesale Corp. | 265  | 142901  |
| Dollar General Corp.  | 4875  | 1246440  |
| Walmart, Inc.  | 11730  | 1787887  |
|  |  | 3177228  |
| **Rubber & Plastics Footwear- 2.98%** |  |  |
| Nike, Inc. Class B  | 10305  | 1130355  |
| **Search, Detection, Navigation, Guidance, Aeronautical Systems - 0.07%** |  |  |
| L3Harris Technologies, Inc. | 125  | 28385  |
| **Security & Commodity Brokers, Dealers, Exchanges & Services - 0.24%** |  |  |
| CME Group, Inc.  | 175  | 30887  |
| Intercontinental Exchange, Inc.  | 545  | 59029  |
|  |  | 89916  |
| **Security Brokers, Dealers & Flotation Companies - 0.68%** |  |  |
| BlackRock, Inc.  | 145  | 103820  |
| Morgan Stanley  | 1645  | 153100  |
|  |  | 256920  |
| **Semiconductor-Broad Line - 0.25%** |  |  |
| Texas Instruments, Inc.  | 535  | 96546  |
| **Semiconductors- 0.17%** |  |  |
| Micron Technology, Inc.  | 1095  | 63127  |
| **Semiconductors & Related Devices - 0.78%** |  |  |
| Advanced Micro Devices, Inc. (2) | 345  | 26782  |
| Analog Devices, Inc.  | 305  | 52433  |
| Applied Materials, Inc.  | 450  | 49320  |
| Microchip Technology, Inc. | 800  | 63352  |
| NVIDIA Corp.  | 625  | 105769  |
|  |  | 297656  |
| **Services - Business Services - 3.57%** |  |  |
| Fiserv, Inc. (2) | 325  | 33917  |
| Mastercard, Inc.  | 2260  | 805464  |
| PayPal Holdings, Inc. (2) | 860  | 67433  |
| Visa, Inc. Class A  | 2060  | 447020  |
|  |  | 1353834  |
| **Services-Commercial Physical & Biological Research - 0.11%** |  |  |
| IQVIA Holdings, Inc. (2) | 190  | 41424  |
| **Services - Computer Processing & Data Preparation - 0.28%** |  |  |
| Automatic Data Processing, Inc.  | 400  | 105656  |
| **Services - Computer Programming, Data Processing, Etc. - 2.53%** |  |  |
| Alphabet, Inc. Class A (2) | 7275  | 734702  |
| Meta Platforms, Inc. Class A (2) | 1910  | 225571  |
|  |  | 960273  |
| **Services - Consumer Credit Reporting, Collection Agencies- 2.69%** |  |  |
| Moody's Corp. | 1075  | 320640  |
| S&P Global, Inc.  | 1985  | 700308  |
|  |  | 1020948  |
| **Services-Engineering, Accounting, Research, Management- 0.04%** |  |  |
| Paychex, Inc. | 115  | 14263  |
| **Services - General Medical & Surgical Hosp- 0.09%** |  |  |
| HCA Healthcare, Inc.  | 145  | 34832  |
| **Services - Prepackaged Software - 5.64%** |  |  |
| Adobe, Inc. (2) | 305  | 105204  |
| Cadence Design Systems, Inc. (2) | 180  | 30967  |
| Electronic Arts, Inc. | 425  | 55581  |
| Microsoft Corp. | 2560  | 653158  |
| Oracle Corp.  | 2390  | 198442  |
| Paycom Software, Inc. (2) | 1665  | 564602  |
| Salesforce.com, Inc. (2) | 630  | 100957  |
| ServiceNow, Inc. (2) | 970  | 403811  |
| Synopsys, Inc. (2) | 75  | 25465  |
|  |  | 2138187  |
| **Services - Video Tape Rental - 1.55%** |  |  |
| Netflix, Inc. (2) | 1930  | 589673  |
| **Soap, Detergent, Cleaning Preparations, Perfumes, Cosmetics - 1.07%** |  |  |
| Ecolab, Inc.  | 210  | 31464  |
| Procter & Gamble Co.  | 2520  | 375883  |
|  |  | 407347  |
| **Special Industry Machinery, Nec - 0.16%** |  |  |
| Lam Research Corp.  | 130  | 61409  |
| **Specialty eateries- 0.29%** |  |  |
| Starbucks Corp.  | 1080  | 110376  |
| **Surgical & Medical Instruments & Apparatus - 0.32%** |  |  |
| Becton, Dickinson & Co.  | 140  | 34907  |
| Boston Scientific Corp. (2) | 700  | 31689  |
| Stryker Corp.  | 230  | 53795  |
|  |  | 120391  |
| **Transportation Services- 0.19%** |  |  |
| Booking Holdings, Inc. (2) | 35  | 72781  |
| **Trucking & Courier Services (No Air) - 0.29%** |  |  |
| United Parcel Service, Inc.  | 570  | 108146  |
| **Wholesale--Drugs, Proprietaries & Druggists' Sundries - 0.14%** |  |  |
| McKesson Corp.  | 140  | 53435  |
| **Wholesale - Durable Goods Goods - 0.08%** |  |  |
| W.W. Grainger, Inc. | 50  | 30153  |
| **Wholesale-Groceries & Related Products - 0.08%** |  |  |
| Sysco Corp. | 335  | 28981  |
| Total Common Stock | (Cost $32,973,758) | 37877786  |
| **Total Investments - 99.84%** | (Cost $32,973,758) | 37877786  |
| Other Assets Less Liabilities- .16% |  | 59234  |
| Total Net Assets - 100.00% |  | 37937020  |
| (1) ***Statement on Financial Accounting Standard No. 157 "Fair Value Measurements"*** - Various inputs are used in determining the value of the Fund's investments. | (1) ***Statement on Financial Accounting Standard No. 157 "Fair Value Measurements"*** - Various inputs are used in determining the value of the Fund's investments. | (1) ***Statement on Financial Accounting Standard No. 157 "Fair Value Measurements"*** - Various inputs are used in determining the value of the Fund's investments. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These inputs are summarized in the three broad levels listed below. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These inputs are summarized in the three broad levels listed below. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These inputs are summarized in the three broad levels listed below. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - quoted prices in active markets for identical securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - quoted prices in active markets for identical securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - quoted prices in active markets for identical securities |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the inputs used as of November 30, 2022 in valuing the Fund's assets carried at fair value: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the inputs used as of November 30, 2022 in valuing the Fund's assets carried at fair value: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the inputs used as of November 30, 2022 in valuing the Fund's assets carried at fair value: |
|  | Investments in  | Other Financial |
| Valuation Inputs | Securities | Instruments (4) |
| Level 1 - Quoted Prices | $37877786 | $ |
| Level 2 - Other Significant Observable Inputs | 0 | - |
| Level 3 - Significant Unobservable Inputs | 0 | - |
| Total | $37877786 | $0  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;market, such securities are reflected as Level 2. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;market, such securities are reflected as Level 2. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;market, such securities are reflected as Level 2. |
| (2) Represents non-income producing securities. | (2) Represents non-income producing securities. | (2) Represents non-income producing securities. |
| (3) Fair valued security deemed as Level 3 security. | (3) Fair valued security deemed as Level 3 security. | (3) Fair valued security deemed as Level 3 security. |
| (4) Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures contracts, which are valued at the unrealized | (4) Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures contracts, which are valued at the unrealized | (4) Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures contracts, which are valued at the unrealized |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;appreciation/depreciation on the instrument. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;appreciation/depreciation on the instrument. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;appreciation/depreciation on the instrument. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** SPARROW FUNDS

- **b. Investment Company Act file number:** 811-08897

- **c. CIK number of Registrant:** 0001066241

- **d. LEI of Registrant:** 549300XDSEM51EDGX785

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

  - **Street Address 1:** 8500 Maryland Avenue

  - **City:** Saint Louis

  - **State:** MO

  - **Foreign country:** US

  - **Zip / Postal Code:** 63105

  - **Telephone number:** 314-725-6161

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

- **a. Name of Series:** Sparrow Growth Fund

- **b. EDGAR series identifier (if any):** S000000502

- **c. LEI of Series:** 549300XDSEM51EDGX785

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

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**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:** $38140731.97

**Total Liabilities:** $203712.46

**Net Assets:** $37937019.51

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000001374 | -6.82%               | 9.74%                | 4.35%                |
| Class ID C000001375 | -6.80%               | 9.79%                | 4.40%                |
| Class ID C000109530 | -6.86%               | 9.69%                | 4.31%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-6687.33                | $-2455348.82                               |
| Month 2  | $-36254.18               | $3328806.16                                |
| Month 3  | $-200587.87              | $1788948.00                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AbbVie, Inc.                           | AbbVie, Inc.                          | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |       740 | NS      | $119273.20    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                    | Abbott Laboratories                   | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      1660 | NS      | $178582.80    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe, Inc.                            | Adobe, Inc.                           | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |       305 | NS      | $105203.65    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices, Inc.           | Advanced Micro Devices, Inc.          | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |       345 | NS      | $26782.35     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals, Inc.       | Air Products and Chemicals, Inc.      | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |       105 | NS      | $32566.80     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp.                         | Allstate Corp.                        | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |       275 | NS      | $36822.50     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet, Inc.                         | Alphabet, Inc. Class A                | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      7275 | NS      | $734702.25    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                       | Amazon.com, Inc.                      | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      1735 | NS      | $167496.90    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co., Inc.      | American Electric Power Co., Inc.     | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |       120 | NS      | $11616.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co.                   | American Express Co.                  | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      7780 | NS      | $1226050.20   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group, Inc.     | American International Group, Inc.    | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |       890 | NS      | $56167.90     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen, Inc.                            | Amgen, Inc.                           | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |       620 | NS      | $177568.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp.                         | Amphenol Corp. Class A                | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |       590 | NS      | $47453.70     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices, Inc.                   | Analog Devices, Inc.                  | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |       305 | NS      | $52432.55     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health, Inc.                  | Elevance Health, Inc.                 | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |       125 | NS      | $66615.00     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple, Inc.                            | Apple, Inc.                           | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      5210 | NS      | $771236.30    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials, Inc.                | Applied Materials, Inc.               | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |       450 | NS      | $49320.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer Daniels Midland Co.             | Archer Daniels Midland Co.            | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |       405 | NS      | $39487.50     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Autonation, Inc.                       | AutoNation, Inc.                      | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3450 | NS      | $427489.50    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone, Inc.                         | AutoZone, Inc.                        | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |        20 | NS      | $51580.00     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing, Inc.        | Automatic Data Processing, Inc.       | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |       400 | NS      | $105656.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                  | Bank of America Corp.                 | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      2670 | NS      | $101059.50    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton, Dickinson and Co.              | Becton, Dickinson & Co.               | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |       140 | NS      | $34907.60     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway, Inc.               | Berkshire Hathaway, Inc. Class B      | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      3305 | NS      | $1052973.00   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock, Inc.                        | BlackRock, Inc.                       | CUSIP: 09247X101<br>LEI: 549300LRIF3NWCU26A80 | Long             | EC               | CORP              | US        |       145 | NS      | $103820.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings, Inc.                 | Booking Holdings, Inc.                | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |        35 | NS      | $72780.75     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp.                | Boston Scientific Corp.               | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |       700 | NS      | $31689.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co.               | Bristol-Myers Squibb Co.              | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     14575 | NS      | $1170081.00   | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group, Inc.                        | CME Group, Inc.                       | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |       175 | NS      | $30887.50     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp.                              | CSX Corp.                             | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |      1545 | NS      | $50506.05     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp.                       | CVS Health Corp.                      | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |       930 | NS      | $94748.40     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems, Inc.           | Cadence Design Systems, Inc.          | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |       180 | NS      | $30967.20     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar, Inc.                      | Caterpillar, Inc.                     | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |       220 | NS      | $52010.20     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp.                          | Centene Corp.                         | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |       415 | NS      | $36125.75     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.           | Charter Communications, Inc.          | CUSIP: 16117M305<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |       215 | NS      | $84127.35     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                          | Chevron Corp.                         | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7740 | NS      | $1418819.40   | 3.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Corp.                            | Cigna Corp.                           | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      3150 | NS      | $1036003.50   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                        | Citigroup, Inc.                       | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |      2285 | NS      | $110616.85    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| The Coca-Cola Co.                      | Coca-Cola Co.                         | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     16410 | NS      | $1043840.10   | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co.                  | Colgate Palmolive, Co.                | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |       620 | NS      | $48037.60     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp.                          | Comcast Corp.                         | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      3655 | NS      | $133919.20    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Conoco Philips                         | ConocoPhillips                        | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      1495 | NS      | $184647.45    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands, Inc.             | Constellation Brands, Inc.            | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |        95 | NS      | $24448.25     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp.                 | Costco Wholesale Corp.                | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       265 | NS      | $142901.25    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp.                          | Danaher Corp.                         | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |       640 | NS      | $174982.40    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co.                            | Deere & Co.                           | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |       130 | NS      | $57330.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corp.                   | Dollar General Corp.                  | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |      4875 | NS      | $1246440.00   | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy, Inc.                  | Dominion Energy, Inc.                 | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |       200 | NS      | $12222.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp.                      | Duke Energy Corp.                     | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |       185 | NS      | $18487.05     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources, Inc.                    | EOG Resources, Inc.                   | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |       265 | NS      | $37611.45     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab, Inc.                           | Ecolab, Inc.                          | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |       210 | NS      | $31464.30     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp.             | Edwards Lifesciences Corp.            | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |        50 | NS      | $3862.50      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc.                   | Electronic Arts, Inc.                 | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |       425 | NS      | $55581.50     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                        | Eli Lilly & Co.                       | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       830 | NS      | $307996.40    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co.                   | Emerson Electric Co.                  | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |       430 | NS      | $41181.10     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| The Estee Lauder Companies, Inc.       | Estee Lauder Companies, Inc.          | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |       325 | NS      | $76631.75     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp.                           | Exelon Corp.                          | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |       315 | NS      | $13031.55     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                      | Exxon Mobil Corp.                     | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      3650 | NS      | $406391.00    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp.                            | FedEx Corp.                           | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |       185 | NS      | $33710.70     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv, Inc.                           | Fiserv, Inc.                          | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |       325 | NS      | $33917.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet, Inc.                         | Fortinet, Inc.                        | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |        85 | NS      | $4518.60      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan, Inc.                 | Freeport-McMoRan, Inc.                | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |       965 | NS      | $38407.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| General Mills, Inc.                    | General Mill, Inc.                    | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |       400 | NS      | $34120.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences, Inc.                  | Gilead Sciences, Inc.                 | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |       890 | NS      | $78168.70     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| The Goldman Sachs Group, Inc.          | Goldman Sachs Group, Inc.             | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       100 | NS      | $38615.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare, Inc.                   | HCA Healthcare, Inc.                  | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |       145 | NS      | $34831.90     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| The Hershey Co.                        | Hershey Co.                           | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |      5010 | NS      | $1178201.70   | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc.         | Hilton Worldwide Holdings, Inc.       | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |       430 | NS      | $61326.60     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot, Inc.                       | Home Depot, Inc.                      | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |       460 | NS      | $149035.40    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International, Inc.          | Honeywell International, Inc.         | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |       325 | NS      | $71353.75     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana, Inc.                           | Humana, Inc.                          | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |        95 | NS      | $52240.50     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Iqvia Holdings, Inc                    | IQVIA Holdings, Inc.                  | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |       190 | NS      | $41423.80     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois Tool Works, Inc.              | Illinois Tool Works, Inc.             | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |       235 | NS      | $53455.45     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange, Inc.        | Intercontinental Exchange, Inc.       | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |       545 | NS      | $59028.95     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp.  | International Business Machines Corp. | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |       775 | NS      | $115397.50    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit                                 | Intuit, Inc.                          | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |       260 | NS      | $105973.40    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical, Inc.               | Intuitive Surgical, Inc.              | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |        25 | NS      | $6759.75      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                      | Johnson & Johnson                     | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      3275 | NS      | $582950.00    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp.                              | KLA Corp.                             | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |        65 | NS      | $25554.75     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper, Inc.                 | Keurig Dr Pepper, Inc.                | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |       725 | NS      | $28035.75     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp.                   | Kimberly-Clark Corp.                  | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |       265 | NS      | $35941.95     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan, Inc. Delaware           | Kinder Morgan, Inc.                   | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |      1450 | NS      | $27724.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| The Kraft Heinz Co.                    | Kraft Heinz Co.                       | CUSIP: 500754106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       330 | NS      | $12985.50     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies, Inc.            | L3Harris Technologies, Inc.           | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |       125 | NS      | $28385.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton       | LVMH Moet Hennessy Louis Vuitton SE   | CUSIP: 502441306<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |      1700 | NS      | $260100.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp.                     | Lam Research Corp.                    | CUSIP: 512807108<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |       130 | NS      | $61409.40     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal SA                             | L'Oreal                               | CUSIP: 502117203<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |      1590 | NS      | $118311.90    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp.               | Marathon Petroleum Corp.              | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |       495 | NS      | $60295.95     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International, Inc.           | Marriott International, Inc.          | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |       160 | NS      | $26456.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Companies, Inc.       | Marsh & McLennan Companies, Inc.      | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |       295 | NS      | $51088.10     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard, Inc.                       | Mastercard, Inc.                      | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      2260 | NS      | $805464.00    | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonalds Corp.                        | McDonalds Corp.                       | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      6290 | NS      | $1715849.10   | 4.52%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp.                         | McKesson Corp.                        | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |       140 | NS      | $53435.20     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc.                      | Merck & Co., Inc.                     | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      2235 | NS      | $246118.20    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife, Inc.                          | MetLife, Inc.                         | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |       785 | NS      | $60209.50     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                   | Meta Platforms, Inc. Class A          | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      1910 | NS      | $225571.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc.              | Microchip Technology, Inc.            | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |       800 | NS      | $63352.00     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology, Inc.                | Micron Technology, Inc.               | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      1095 | NS      | $63126.75     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                        | Microsoft Corp.                       | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      2560 | NS      | $653158.40    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Moderna, Inc.                          | Moderna, Inc.                         | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |       180 | NS      | $31663.80     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.           | Mondelez International, Inc.          | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |      1190 | NS      | $80455.90     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp.                 | Monster Beverage Corp.                | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |      3120 | NS      | $320923.20    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp.                          | Moody's Corp.                         | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |      1075 | NS      | $320640.25    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                         | Morgan Stanley                        | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      1645 | NS      | $153100.15    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                           | NVIDIA Corp.                          | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |       625 | NS      | $105768.75    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                          | Netflix, Inc.                         | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      1930 | NS      | $589672.90    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy, Inc.                   | NextEra Energy, Inc.                  | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1245 | NS      | $105451.50    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Nike, Inc.                             | Nike, Inc. Class B                    | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     10305 | NS      | $1130355.45   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp.                 | Norfolk Southern Corp.                | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |       175 | NS      | $44887.50     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corp.                 | Northrop Grumman Corp.                | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |       110 | NS      | $58661.90     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive, Inc.              | O'Reilly Automotive, Inc.             | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |        65 | NS      | $56195.10     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp.             | Occidental Petroleum Corp.            | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |       650 | NS      | $45168.50     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                           | Oracle Corp.                          | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      2390 | NS      | $198441.70    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| The PNC Financial Services Group, Inc. | PNC Financial Services Group, Inc.    | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |       415 | NS      | $69827.90     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings, Inc.                  | PayPal Holdings, Inc.                 | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |       860 | NS      | $67432.60     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex, Inc.                          | Paychex, Inc.                         | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |       115 | NS      | $14263.45     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software, Inc.                  | Paycom Software, Inc.                 | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |      1665 | NS      | $564601.50    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo, Inc.                          | PepsiCo, Inc.                         | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      6670 | NS      | $1237351.70   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer, Inc.                           | Pfizer, Inc.                          | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |      3115 | NS      | $156154.95    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                            | Phillips 66                           | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |       365 | NS      | $39580.60     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal Financial Group, Inc.        | Principal Financial Group, Inc.       | CUSIP: 74251V102<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | EC               | CORP              | US        |       315 | NS      | $28249.20     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| The Procter & Gamble Co.               | Procter & Gamble Co.                  | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      2520 | NS      | $375883.20    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp. Ohio                 | Progressive Corp.                     | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |       565 | NS      | $74664.75     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualcomm, Inc.                         | Qualcomm, Inc.                        | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |       945 | NS      | $119533.05    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.        | Regeneron Pharmaceuticals, Inc.       | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |        50 | NS      | $37585.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services, Inc.                | Republic Services, Inc.               | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |       315 | NS      | $43876.35     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Industries, Inc.                 | Roper Technologies, Inc.              | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |        70 | NS      | $30722.30     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global, Inc.                       | S&P Global, Inc.                      | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      1985 | NS      | $700308.00    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce.com, Inc.                   | Salesforce.com, Inc.                  | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |       630 | NS      | $100957.50    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra Energy                          | Sempra Energy                         | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |        75 | NS      | $12464.25     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow, Inc.                       | ServiceNow, Inc.                      | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |       970 | NS      | $403811.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| The Sherwin-Williams Co.               | Sherwin Williams Co.                  | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |       180 | NS      | $44852.40     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| The Southern Co.                       | Southern Co.                          | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |       255 | NS      | $17248.20     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                        | Starbucks Corp.                       | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      1080 | NS      | $110376.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp.                          | Stryker Corp.                         | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |       230 | NS      | $53794.70     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys, Inc.                         | Synopsys, Inc.                        | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |        75 | NS      | $25465.50     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corp.                            | Sysco Corp.                           | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |       335 | NS      | $28980.85     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US, Inc.                      | T-Mobile US, Inc.                     | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |       370 | NS      | $56040.20     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| The TJX Companies, Inc.                | TJX Companies, Inc.                   | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |       880 | NS      | $70444.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla, Inc.                            | Tesla, Inc.                           | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |        45 | NS      | $8761.50      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments, Inc.                | Texas Instruments, Inc.               | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |       535 | NS      | $96546.10     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific, Inc.         | Thermo Fisher Scientific, Inc.        | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |       360 | NS      | $201679.20    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Companies, Inc.              | Travelers Companies, Inc.             | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |       235 | NS      | $44605.35     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp.                 | Truist Financial Corp.                | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |      1000 | NS      | $46810.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Bancorp                           | US Bancorp                            | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |      1425 | NS      | $64680.75     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp.                    | Union Pacific Corp.                   | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |       575 | NS      | $125022.25    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group, Inc.               | United Health Group, Inc.             | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      6765 | NS      | $3705596.40   | 9.77%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service, Inc.            | United Parcel Service, Inc.           | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |       570 | NS      | $108146.10    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals, Inc.           | Vertex Pharmaceuticals, Inc.          | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      5450 | NS      | $1724380.00   | 4.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa, Inc.                             | Visa, Inc. Class A                    | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      2060 | NS      | $447020.00    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| W.W. Grainger, Inc.                    | W.W. Grainger, Inc.                   | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |        50 | NS      | $30153.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart, Inc.                          | Walmart, Inc.                         | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     11730 | NS      | $1787886.60   | 4.71%             |  |  |  | No            |                  1 | On Loan: No      |
| The Walt Disney Co.                    | Walt Disney Co.                       | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |       570 | NS      | $55785.90     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management, Inc.                 | Waste Management, Inc.                | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |       300 | NS      | $50316.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co.                      | Wells Fargo & Co.                     | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      2255 | NS      | $108127.25    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Companies, Inc.               | Williams Companies, Inc.              | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |       775 | NS      | $26892.50     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis, Inc.                           | Zoetis, Inc.                          | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |       430 | NS      | $66280.20     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-11-30

**Name of Applicant:** Sparrow Funds

**Signature:** /s/ Gerald Sparrow

**Name of Signer:** Gerald Sparrow

**Title:** President