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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
THIS DOCUMENT IS A TECHNICAL ILLUSTRATION OF HOW CERTAIN DISCLOSURES IN SEC FILINGS ARE TO BE TAGGED. IT DOES NOT INDICATE WHICH PARTICULAR DISCLOSURES MUST BE INCLUDED AND/OR TAGGED IN COMMISSION FILINGS, AND IT DOES NOT CONSTITUTE LEGAL GUIDANCE OF ANY SORT.
FORM
N-CSR
CERTIFIED
SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT
INVESTMENT COMPANIES
Investment
Company Act file number 811-99999
Fictitious
Investment Company Trust
(Exact
name of registrant as specified in charter)
100
F St. NE, Washington, DC 20549
(Address
of principal executive offices) (Zip code)
John
Smith, Secretary
100
F St. NE
Washington,
DC 20549
(Name
and address of agent for service)
Registrant's telephone
number, including area code:
Date of fiscal year end: |
October 31, 2032 |
|
|
Date of reporting period: |
October 31, 2032 |
Item
1. Reports to Stockholders.
Annual
Shareholder Report
Fictitious
Market Fund, Class A [FAKE]
This annual shareholder
report contains important information about the Fictitious Market Fund (“Fund”)
for the period of November 1, 2031 to October 31, 2032. You can find additional information
about the Fund at www.fictitiouscompany.com/fake.
You can also request this information
by contacting us at 1-800-555-5555 or by emailing
info@fictitiouscompany.com.
This
report describes changes to the Fund that occurred during the reporting period.
What were
the Fund costs for the last year? (based on a hypothetical $10,000 investment)
Fund/Class |
Costs of a $10,000 investment |
Costs paid as a percentage of a $10,000 investment |
Fictitious Market Fund, Class A |
$50 |
0.52% |
Management’s
Discussion of Fund Performance.
Summary
of Results
Fictitious
Market Fund (Class A) returned 11.95% (excluding sales loads) for the 12 months ended
October 31, 2032. The Fund outperformed its benchmark (the XYZ Additional Index),
which returned -18.44% as well as the overall equity market. This outperformance is
largely the result of our portfolio holding less inflation and interest–rate
sensitive investments than our benchmark. However, the fund was still susceptible
to some of the overall market losses that occurred during the period.
During
the period, the Fund focused on undervalued investments, which insulated the Fund
from some losses resulting from a market correct associated with certain overpriced
investments that dominate the more common market indices.
In addition,
the Fund also allocated greater investments to the U.S. as volatility increased worldwide
resulting, in part, from Russia’s investment in Ukraine. This greater domestic
focus also led to outperformance because, although interest rates and inflation rates
are rising in the U.S., they are rising at a faster pace outside the U.S.
The Fund
also had a significant focus on technology and while technology dragged toward the
end of the fiscal year, it outperformed the overall market for a substantial portion
of the year.
Top Contributors |
Top Detractors |
 |
Technology |
  |
Healthcare |
 |
Consumer Cyclicals |
 |
Industrials |
 |
Consumer Non-cyclicals |
 |
Financials |
Keep in mind
that the Fund’s past performance is not a good predictor of how the Fund will
perform in the future. The graph and table do not reflect the deduction of taxes that
a shareholder would pay on fund distributions or redemption of fund shares.
Note: Prior
to 12/31/2024, the fund’s investment focus was on domestic equity securities.
Beginning in 2025, the fund focused on equity securities from around the world.

Average Annual
Total Returns
|
1 Year |
5 Years |
10 Years |
Class A (with sales load) |
-16.95% |
6.17% |
10.35% |
Class A (without sales load) |
-11.95% |
7.19% |
10.85% |
XYZ Broad-based Index (reflects no deduction for fees, expenses, or taxes) |
-16.89% |
9.80% |
12.41% |
XYZ Additional Index (reflects no deduction for fees, expenses, or taxes) |
-18.44% |
5.64% |
10.10% |
Visit
www.fictitiouscompany.com/fake for more recent performance information.
Fund
Statistics
Fund's Net Assets: |
$789 mil. |
Number of Investments: |
123 |
Total Advisory Fees Paid: |
$4.2 mil. |
Annual Portfolio Turnover: |
62% |
Beta (vs. XYZ Broad-based Index) |
0.87 |
Weighted median market capitalization: |
$35.2 bil. |
Graphical Representation of Holdings
|
Industry Sector |
% of Total Exposure |
 |
|
TECHNOLOGY |
42.35 |
|
CONSUMER CYCLICALS |
17.79 |
|
HEALTHCARE |
14.27 |
|
INDUSTRIALS |
7.43 |
|
CONSUMER NON-CYCLICALS |
4.52 |
|
FINANCIALS |
3.76 |
|
ENERGY |
3.72 |
|
NOT CLASSIFIED - NON EQUITY |
3.22 |
|
BASIC MATERIALS |
1.51 |
Material Fund
Changes.
This is
a summary of certain changes and planned changes to the Fund since November 1, 2031.
For more complete information, you may review the Fund’s next prospectus, which
we expect to be available by March 1, 2033 at www.fictitiouscompany.com/fake or upon
request at 1-800-555-5555 or by emailing information@fictitiouscompany.com.
After receiving
shareholder approval, on March 1, 2032, the fund changed its classification from diversified
to non-diversified. This means the Fund has the flexibility to invest a larger portion
of its assets in a smaller number of companies. This also means that the Fund may
be more susceptible to adverse developments affecting those companies and may be susceptible
to greater losses.
It is also
expected that as of March 1, 2033, the fund will reduce its maximum sales load for new
sales of class A shares from 5% to 4%.
Changes in
and Disagreements with Accountants.
The Fund’s
auditor prior to December 1, 2031, ABC LLP, declined to stand for re-election. During
the fiscal year ended November 1, 2031, the Fund’s adviser and ABC LLP had disagreements
about the accounting treatment (both valuation and custody) for the Fund's holdings
of certain foreign entities.
Availability
of Additional Information about the Fund.
Additional
information is available at www.fictitiouscompany.com/fake, including its:
· Prospectus |
· Holdings |
· Fund Commentary |
· Financial Information |
· Proxy Voting information |
· Updated Performance |
Important
Notice Regarding Delivery of Shareholder Documents.
In order
to reduce expenses, we will deliver a single copy of prospectuses, proxies, financial
reports, and other communication to shareholders with the same residential address,
provided they have the same last name or we reasonably believe them to be members
of the same family. Unless we are notified otherwise, we will continue to send you
only one copy of these materials for as long as you remain a shareholder of the Fund.
If you would like to receive individual mailings, please call (800) 555-555 and we
will begin sending you separate copies of these materials within 30 days after we
receive your request.
These
data tables are here during editing, in an actual filing they could be
hidden:
Date |
Fictitious Market Fund Class A |
XYZ Broad-based Index |
XYZ Additional Index |
10/31/2022 |
9,500 |
10,000 |
10,000 |
10/31/2023 |
13,021 |
12,893 |
13,653 |
10/31/2024 |
13,894 |
14,963 |
14,791 |
10/31/2025 |
14,822 |
15,619 |
14,872 |
10/31/2026 |
15,416 |
16,283 |
15,526 |
10/31/2027 |
18,804 |
20,180 |
19,891 |
10/31/2028 |
18,318 |
21,518 |
20,283 |
10/31/2029 |
19,210 |
24,416 |
21,306 |
10/31/2030 |
17,191 |
26,899 |
21,306 |
10/31/2031 |
30,225 |
38,749 |
32,092 |
10/31/2032 |
26,613 |
32,205 |
26,173 |
Collected - Investment Country |
Weight |
UNITED STATES |
46.92 |
CANADA |
8.21 |
CHINA |
7.80 |
GERMANY |
7.35 |
UNITED KINGDOM |
6.84 |
IRELAND |
5.94 |
NETHERLANDS |
5.82 |
JAPAN |
5.72 |
SWITZERLAND |
4.18 |
URUGUAY |
1.22 |