Schedule of Investments | |||||||
June 30, 2020 (unaudited) | |||||||
Forester Value Fund | |||||||
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| Shares or Principal |
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Security Description |
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| Amount ($) |
| Fair Value ($)(1) | ||
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Common Stocks - 71.01% | |||||||
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Canned, Fruits, Veg & Preserves, Jams & Jellies - 1.59% |
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J M Smucker Co. |
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| 1,240 |
| 131,204 | |
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Computer & office Equipment - 1.90% |
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International Business Machines Corp. |
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| 1,300 |
| 157,001 | ||
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Electric & Other Services Comb - 1.23% |
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Exelon Corp |
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| 2,800 |
| 101,612 |
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Electric Services - 4.79% |
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DTE Energy Co. |
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| 1,180 |
| 126,850 | |
FirstEnergy Corp. |
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| 3,200 |
| 124,096 | |
The Southern Co. |
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| 2,800 |
| 145,180 | |
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| 396,126 |
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Electrical Work - 2.80% |
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Quanta Services Inc. |
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| 5,900 |
| 231,457 | |
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Fire, Marine & Casualty Insurance - 4.87% |
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Allstate Corp. |
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| 1,680 |
| 162,943 | |
The Travelers Companies, Inc. |
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| 2,100 |
| 239,505 | ||
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| 402,448 |
Food and Kindred Products - 3.28% |
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Conagra Brands Inc. |
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| 7,700 |
| 270,809 | |
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Gold and Silver Ores - 1.67% |
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Newmont Goldcorp Corp. |
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| 2,236 |
| 138,051 | ||
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Grain Mill Products - 2.95% |
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General Mills, Inc. |
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| 3,960 |
| 244,134 | |
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Hospital & Medical Service Pla - 3.96% |
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Cigna Corp. |
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| 770 |
| 144,491 |
UnitedHealth Group, Inc. |
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| 620 |
| 182,869 | |
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| 327,360 |
Insurance Agents, Brokers & Se - 2.56% |
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Aon Corp. |
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| 1,100 |
| 211,860 |
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National Commercial Banks - 2.39% |
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US Bancorp, Inc. |
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| 5,360 |
| 197,355 | |
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Petroleum Refining - 3.79% |
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BP Plc ADR |
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| 6,170 |
| 143,884 |
Exxon Mobil Corp. |
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| 3,790 |
| 169,489 | |
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| 313,373 |
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Pharmaceutical Preparations - 7.72% |
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AbbVie Inc. |
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| 1,300 |
| 127,634 |
Bristol Myers Squibb Co. |
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| 2,600 |
| 152,880 | |
Johnson & Johnson |
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| 1,100 |
| 154,693 | |
Pfizer, Inc. |
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| 6,200 |
| 202,740 |
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| 637,947 |
Poultry Slaughtering and Process - 2.67% |
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Tyson Foods, Inc. |
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| 3,700 |
| 220,927 | |
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Retail-Catalog & Mail Order Ho - 0.98% |
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CDW Corp. |
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| 700 |
| 81,326 |
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Retail -Drug Stores and Proprie - 4.13% |
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CVS Health Corp. |
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| 3,100 |
| 201,407 | |
Walgreens Boots Alliance, Inc. |
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| 3,300 |
| 139,887 | ||
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| 341,294 |
Retail-Grocery Stores - 1.89% |
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The Kroger Co. |
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| 4,620 |
| 156,387 | |
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Services-Business Services, NE - 4.63% |
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Ebay Inc. |
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| 7,300 |
| 382,885 |
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Services-Prepackaged Software - 4.51% |
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Microsoft Corp. |
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| 870 |
| 177,054 | |
Oracle Corp. |
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| 3,540 |
| 195,656 |
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| 372,710 |
Ship & Boat Building & Repairing - 1.81% |
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General Dynamics Corp. |
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| 1,000 |
| 149,460 | |
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Surgical & Medical Instruments - 1.89% |
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3M Co. |
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| 1,000 |
| 155,990 |
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Telephone Communications - 1.81% |
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AT&T, Inc. |
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| 4,960 |
| 149,941 |
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Wholesale-Drugs, Proprietaries- 1.21% |
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Cardinal Health, Inc. |
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| 1,920 |
| 100,205 | |
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Total Common Stock |
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| (Cost $ 4,051,693) |
| 5,871,862 | |
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U.S. Government Obligations - 21.16% | |||||||
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U.S. Government Treasury Bill, 0.00%, 09/03/2020 | 1,750,000 |
| 1,749,557 | ||||
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Total U.S. Government Obligations | (Cost $ 1,749,726) |
| 1,749,557 | ||||
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Money Market Registered Investment Companies - 17.36% | |||||||
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Morgan Stanley Inst. Liquidity Fund Treasury Port. - .0584% (5) | 1,435,278 |
| 1,435,278 | ||||
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Total Money Market Registered Investment Companies | (Cost $ 1,435,278) |
| 1,435,278 | ||||
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Total Investments - 112.10% | (Cost $ 7,421,118) |
| 9,269,047 | ||||
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Other Assets less Liabilities - -12.10% |
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| (1,000,547) | ||||
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Total Net Assets - 100.00% |
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| 8,268,500 | ||||
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Options | |||||||
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| Long (Short) |
| Notional Value of |
| Fair |
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| Contracts | Expiration Date | Contracts ($) |
| Value ($) |
Put Options |
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S&P 500 Index, August 21, 2020, Put @ $2,850 | 35 | 8/21/2020 | 10,851,015 |
| 182,350 | ||
S&P 500 Index, August 21, 2020, Put @ $2,700 | 10 | 8/21/2020 | 3,100,290 |
| 30,000 | ||
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Total Options |
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| 45 |
| 13,951,305 |
| 212,350 |
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| (Cost $ 184,421) |
| 212,350 |
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(1) Statement on Financial Accounting Standard No. 157 "Fair Value Measurements" - Various inputs are used in determining the value of the Fund's investments. | |||||||
These inputs are summarized in the three broad levels listed below. | |||||||
• Level 1 - quoted prices in active markets for identical securities | |||||||
• Level 2 - other significant observable inputs (including quoted prices for similar securities, 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) | |||||||
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The following is a summary of the inputs used as of June 30, 2020 in valuing the Fund's assets carried at fair value: | |||||||
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| Investments in |
| Other Financial |
Valuation Inputs |
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| Securities |
| Instruments (9) | |
Level 1 - Quoted Prices |
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| $ | 7,519,490 | $ |
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Level 2 - Other Significant Observable Inputs |
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| 1,749,557 |
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Level 3 - Significant Unobservable Inputs |
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| - |
| - | ||
Total |
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| $ | 9,269,047 | $ | 0 |
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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 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 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 market, such securities are reflected as Level 2. | |||||||
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(2) Represents non-income producing securities. | |||||||
(3) All or a portion of this security is on loan. | |||||||
(4) Investment purchased with cash received as securities lending collateral. The yield shown represents the 7-day yield in effect at June 30, 2020. | |||||||
(5) Investment in affiliate. The yield shown represents the 7-day yield in effect at June 30, 2020. | |||||||
(6) Assets of affiliates to the Conservative Allocation Fund held for the benefit of the Fund's Trustees in connection with the Trustees Deferred Compensation Plan. | |||||||
(7) Fair valued security deemed as Level 3 security. | |||||||
(8) Exchange-traded fund. | |||||||
(9) Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument. | |||||||
