Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (n-q)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-22178

Davlin Philanthropic Funds

(Exact Name of Registrant as Specified in Charter)

44 River Road, Suite A

Wayland, MA 01778

(Address of Principal Executive Offices) (Zip Code)

William E.B. Davlin

Davlin Philanthropic Funds

44 River Road, Suite A

Wayland, MA 01778

(Name and Address of Agent for Service)

With copy to:

JoAnn M. Strasser

Thompson Hine LLP

312 Walnut Street, 14th Floor

Cincinnati, Ohio 45202

Registrant’s Telephone Number, including Area Code: 508-276-1705

Date of fiscal year end: March 31

Date of reporting period: December 31, 2013

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, and 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.

ITEM 1. SCHEDULE OF INVESTMENTS.


		The Davlin Philanthropic Fund
		Schedule of Investments
		December 31, 2013 (Unaudited)

	Shares		Value

COMMON STOCKS - 82.73%

	Agricultural Chemicals - 2.05%
	850	CF Industries Holdings, Inc.	$ 198,084

	Bottled & Canned Soft Drinks - 1.29%
	1,400	Monster Beverage Corp. *	94,878
	1,500	National Beverage Corp. *	30,240
			125,118
	Communication Services, NEC - 1.61%
	18,500	RRSat Global Communications Network Ltd. (Israel)	155,400

	Computer & Office Equipment - 1.97%
	6,800	Hewlett-Packard Co.	190,264

	Concrete, Gypsum & Plaster Products - 0.50%
	2,000	Monarch Cement Co.	48,200

	Cookies & Crackers - 0.73%
	800	J&J Snack Food Corp.	70,872

	Drilling Oil & Gas Wells - 1.51%
	3,900	Noble Corp.	146,133

	Engines & Turbines - 2.04%
	1,400	Cummins, Inc.	197,358

	Finance Lessors - 0.32%
	600	CIT Group, Inc. *	31,278

	Fire, Marine & Casualty Insurance - 7.01%
	1,800	ACE Ltd. (Switzerland)	186,354
	325	Fairfax Financial Holdings Ltd. (Canada) *	130,019
	3,200	Montpelier RE Holdings Ltd. (Bermuda)	93,120
	2,200	Safety Insurance Group, Inc.	123,860
	1,600	Travelers Co., Inc.	144,864
			678,217
	Footwear - 0.44%
	1,300	Sketchers USA, Inc. Class-A *	43,069

	Hospital & Medical Service Plans - 1.60%
	2,200	Wellcare Health Plans, Inc. *	154,924

	Household Audio & Video Equipment - 1.41%
	18,900	Skullcandy, Inc. *	136,269

	Industrial Inorganic Chemicals - 0.95%
	4,000	Tronox, Ltd. Class A F	92,280

	Industrial Instruments For Measurement - 1.58%
	4,000	Cognex Corp.	152,720

	Investment Advise - 2.83%
	1,800	Franklin Resources, Inc.	103,914
	3,500	Legg Mason, Inc.	152,180
	1,000	Manning & Napier, Inc. Class A	17,650
			273,744
	Leather & Leather Products - 1.74%
	7,000	Vera Bradley, Inc. *	168,280

	Meat Packing Plants - 1.59%
	55	Seaboard Corp. *	153,723

	Miscellaneous Manufacturing Industries - 1.34%
	3,000	Hillenbrand, Inc.	88,260
	1,100	Oil-Dri Corp. of America	41,624
			129,884
	Motor Vehicle Parts & Accessories - 2.62%
	800	Delphi Automotive PLC	48,104
	4,800	Fuel Systems Solutions, Inc. *	66,576
	3,100	Strattec Security Corp.	138,477
			253,157
	Motor Vehicles & Passenger Car Bodies - 2.49%
	1,980	Toyota Motor Corp. ADR (Japan) *	241,402

	National Commercial Banks - 2.81%
	3,800	JPMorgan Chase & Co.	222,224
	1,100	Wells Fargo & Co.	49,940
			272,164
	Newspapers: Publishing or Publishing & Printing - 0.64%
	800	Tribune Co., Class A *	61,920

	Oil & Natural Gas - 4.68%
	1,400	Marathon Petroleum Corp.	128,422
	2,050	Phillips 66	158,116
	3,300	Valero Energy Corp.	166,320
			452,858
	Primary Production of Aluminum - 0.87%
	1,200	Kaiser Aluminum Corp.	84,288

	Private Equity Firm - 0.60%
	4,300	MVC Capital, Inc.	58,050

	Railroad Equipment - 0.57%
	1,200	American Railcar Industries, Inc.	54,900

	Retail-Auto Dealers & Gasoline Stations - 3.32%
	2,966	CST Brands, Inc. *	108,911
	14,900	West Marine, Inc. *	212,027
			320,938
	Retail-Eating Places - 3.52%
	4,100	Nathans Famous, Inc. *	206,681
	19,400	Ruby Tuesday, Inc. *	134,442
			341,123
	Retail-Grocery Stores - 2.16%
	5,400	Village Super Market, Inc. Class-A	167,454
	800	Weis Markets, Inc.	42,048
			209,502
	Retail-Miscellaneous Shopping - 2.56%
	12,000	Office Depot, Inc. *	63,480
	11,600	Staples, Inc.	184,324
			247,804
	Retail-Radio, TV & Consumer Electronic Stores - 0.19%
	7,200	Radioshack Corp. *	18,720

	Rolling Drawing & Extruding of Nonferrous Metals - 0.71%
	2,000	RTI International Metals, Inc. *	68,420

	Savings Institution, Federally Chartered - 2.26%
	3,900	People's United Financial, Inc.	58,968
	6,900	Territorial Bancorp, Inc.	160,080
			219,048
	Search, Detection, Navigation, Guidance, Aeronautical Systems - 0.29%
	600	Garmin Ltd. (Switzerland)	27,714

	Security Brokers, Dealers & Flotation Companies - 5.82%
	2,200	Gamco Investors, Inc.	191,334
	11,315	Gleacher & Co., Inc. *	117,563
	11,100	JMP Group, Inc.	82,140
	5,500	Morgan Stanley	172,480
			563,517
	Semiconductors & Related Devices - 0.41%
	900	Texas Instruments, Inc.	39,519

	Services-Advertising Agencies - 1.93%
	8,000	ValueClick, Inc. *	186,960

	Services-Amusement & Recreation Services - 0.64%
	41,900	Dover Downs Gaming & Entertainment, Inc. *	62,012

	Services-Equipment Rental & Leasing - 4.75%
	12,000	AerCap Holdings N.V. (Netherlands) *	460,200

	Sporting & Athletic Goods, NEC - 0.63%
	7,200	Callaway Golf Co.	60,696

	State Commercial Banks - 3.94%
	4,100	Bank of NY Mellon Corp.	143,254
	8,000	Glacier Bancorp, Inc.	238,320
			381,574
	Sugar & Confectionery Products - 0.71%
	2,800	John B Sanfilipo & Sons, Inc.	69,104

	Surgical & Medical Instruments - 0.21%
	1,000	Globus Medical, Inc. *	20,180

	Water Transportation - 0.89%
	1,450	Tidewater, Inc.	85,942

	TOTAL FOR COMMON STOCKS (Cost $4,414,386) - 82.73%		$ 8,007,529

EXCHANGE TRADED FUNDS - 4.91%
	1,300	ETFS Palladium Trust *	90,506
	720	ETFS Platinum Trust *	96,401
	9,433	Global X Uranium ETF	144,042
	1,700	iShares MSCI Turkey Index Fund	81,022
	800	ProShares Ultrashort 20+ Year Treasury *	63,360

	TOTAL FOR EXCHANGE TRADED FUNDS (Cost $538,025) - 4.91%		$ 475,331

PREFERRED STOCK - 2.25%
	3,900	Bank of New York Mellon Corp. PFD-C 5.20%	80,925
	5,200	The Goldman Sachs Group, Inc. 2010 PFD-C 5.44% **	98,488
	375	Southern California Edison Co. PFD 5.349% **	38,040

	TOTAL PREFERRED STOCK (Cost $227,273) - 2.25%		$ 217,453

REAL ESTATE INVESTMENT TRUST - 3.31%
	9,200	Chatham Lodging Trust	188,140
	11,100	Franklin Street Properties Corp.	132,645

	TOTAL REAL ESTATE INVESTMENT TRUST (Cost $245,905) - 3.31%		$ 320,785

SHORT TERM INVESTMENTS - 6.57%
	636,215	Fidelity Institutional Money Market Portfolio 0.06% ** (Cost $636,215)	636,215

TOTAL INVESTMENTS (Cost $6,687,378) - 99.78%			$ 9,657,313

OTHER ASSETS LESS LIABILITIES - 0.22%			21,479

NET ASSETS - 100.00%			$ 9,678,792

	ADR - American Depository Receipt.
	* Non-income producing security during the period
	** Variable rate security: the coupon rate shown represents the yield at December 31, 2013.

NOTES TO FINANCIAL STATEMENTS
THE DAVLIN PHILANTHROPIC FUND
1. SECURITY TRANSACTIONS
	At December 31, 2013, the net unrealized appreciation on investments, based on cost for federal income tax purposes of $6,687,378 amounted to $2,969,935, which consisted of aggregate gross unrealized appreciation of $3,269,747 and aggregate gross unrealized depreciation of $299,812.



2. SECURITY VALUATIONS
	Portfolio securities that are listed on national securities exchanges or the NASDAQ National Market System are valued at the last sale price as of 4:00 p.m. Eastern time, or in the absence of recorded sales, at the readily available closing bid price on such exchanges or such System. Unlisted securities that are not included in such System are valued at the quoted bid price in the over-the-counter-market. Securities and other assets for which market quotations are not readily available are valued at fair value as determined in good faith by the Advisor under procedures established by and under the general supervision and responsibility of the Fund's Board of Directors. Short-term investments are valued at amortized cost, if their original maturity was 60 days or less, or by amortizing the values as of the 61st day prior to maturity, if their original term to maturity exceeded 60 days.
	As required by the fair value topic of the FASB Accounting Standards Codification, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The topic also establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability. The three-tier hierarchy of inputs is summarized below:
	Level 1 - quoted prices in active markets for identical investments
	Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
	Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)
	The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

	The following table summarizes the inputs used to value the Fund’s assets measured at fair value as of December 31, 2013:


Valuation Inputs of Assets	Level 1	Level 2	Level 3	Total
Common Stock	$8,007,529	$0	$0	$8,007,529
Real Estate Investment Trust	$320,785			$320,785
Exchange Traded Funds	$475,331	$0	$0	$475,331
Preferred Stocks	$217,453			$217,453
Cash Equivalents	$636,215	$0	$0	$636,215
Total	$9,657,313	$0	$0	$9,657,313

ITEM 2. CONTROLS AND PROCEDURES.

(a)

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES. The Registrant maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the Registrant's filings under the Securities Exchange Act of 1934 and the Investment Company Act of 1940 is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission. Such information is accumulated and communicated to the Registrant's management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. The Registrant's management, including the principal executive officer and the principal financial officer, recognizes that any set of controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.

Within 90 days prior to the filing date of this Quarterly Schedule of Portfolio Holdings on Form N-Q, the Registrant had carried out an evaluation, under the supervision and with the participation of the Registrant's management, including the Registrant's principal executive officer and the Registrant's principal financial officer, of the effectiveness of the design and operation of the Registrant's disclosure controls and procedures. Based on such evaluation, the Registrant's principal executive officer and principal financial officer concluded that the Registrant's disclosure controls and procedures are effective.

(b)

CHANGES IN INTERNAL CONTROLS. There have been no significant changes in the Registrant's internal controls or in other factors that could significantly affect the internal controls subsequent to the date of their evaluation in connection with the preparation of this Quarterly Schedule of Portfolio Holdings on Form N-Q.

ITEM 3. EXHIBITS.

Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Davlin Philanthropic Funds

By /s/William E.B. Davlin

William E.B. Davlin

Trustee, President and Principal Executive Officer

Date: February 24, 2014

By /s/William E.B. Davlin

William E.B. Davlin

Trustee, President and Principal Executive Officer

Date February 24, 2014

Summer Energy (QB) (USOTC:SUME)
Historical Stock Chart
From Jun 2024 to Jul 2024