| HUSSMAN STRATEGIC GROWTH FUND |
| SCHEDULE OF INVESTMENTS |
| March 31, 2024 (Unaudited) |
| COMMON STOCKS - 109.8% | | Shares | | | Value | |
| Communications - 8.3% | | | | | | | | |
| Cable & Satellite - 1.3% | | | | | | | | |
| Comcast Corporation - Class A (a) | | | 100,000 | | | $ | 4,335,000 | |
| | | | | | | | | |
| Entertainment Content - 1.0% | | | | | | | | |
| AppLovin Corporation - Class A (a)(b) | | | 50,000 | | | | 3,461,000 | |
| | | | | | | | | |
| Internet Media & Services - 5.0% | | | | | | | | |
| Airbnb, Inc. - Class A (a)(b) | | | 4,000 | | | | 659,840 | |
| Alphabet, Inc. - Class C (a)(b) | | | 40,000 | | | | 6,090,400 | |
| Booking Holdings, Inc. (a) | | | 200 | | | | 725,576 | |
| DoorDash, Inc. - Class A (a)(b) | | | 10,000 | | | | 1,377,200 | |
| LifeMD, Inc. (a)(b) | | | 40,000 | | | | 411,200 | |
| Meta Platforms, Inc. - Class A (a) | | | 8,000 | | | | 3,884,640 | |
| Netflix, Inc. (a)(b) | | | 800 | | | | 485,864 | |
| Shutterstock, Inc. (a) | | | 40,000 | | | | 1,832,400 | |
| Uber Technologies, Inc. (a)(b) | | | 20,000 | | | | 1,539,800 | |
| | | | | | | | 17,006,920 | |
| Telecommunications - 1.0% | | | | | | | | |
| Verizon Communications, Inc. (a) | | | 80,000 | | | | 3,356,800 | |
| | | | | | | | | |
| Consumer Discretionary - 13.0% | | | | | | | | |
| Apparel & Textile Products - 1.2% | | | | | | | | |
| Kontoor Brands, Inc. (a) | | | 50,000 | | | | 3,012,500 | |
| Skechers U.S.A., Inc. - Class A (a)(b) | | | 20,000 | | | | 1,225,200 | |
| | | | | | | | 4,237,700 | |
| Consumer Services - 1.1% | | | | | | | | |
| Coursera, Inc. (b) | | | 160,000 | | | | 2,243,200 | |
| Perdoceo Education Corporation (a) | | | 90,000 | | | | 1,580,400 | |
| | | | | | | | 3,823,600 | |
| E-Commerce Discretionary - 2.0% | | | | | | | | |
| Amazon.com, Inc. (a)(b) | | | 30,000 | | | | 5,411,400 | |
| Etsy, Inc. (a)(b) | | | 20,000 | | | | 1,374,400 | |
| | | | | | | | 6,785,800 | |
| Home Construction - 0.4% | | | | | | | | |
| Forestar Group, Inc. (a)(b) | | | 35,000 | | | | 1,406,650 | |
| | | | | | | | | |
| Leisure Facilities & Services - 2.5% | | | | | | | | |
| Domino’s Pizza, Inc. (a) | | | 4,000 | | | | 1,987,520 | |
| Shake Shack, Inc. - Class A (a)(b) | | | 6,000 | | | | 624,180 | |
| Starbucks Corporation (a) | | | 30,000 | | | | 2,741,700 | |
| HUSSMAN STRATEGIC GROWTH FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| COMMON STOCKS - 109.8% (continued) | | Shares | | | Value | |
| Consumer Discretionary - 13.0% (continued) | | | | | | | | |
| Leisure Facilities & Services - 2.5% (continued) | | | | | | | | |
| Sweetgreen, Inc. - Class A (a)(b) | | | 120,000 | | | $ | 3,031,200 | |
| | | | | | | | 8,384,600 | |
| Retail - Discretionary - 5.8% | | | | | | | | |
| American Eagle Outfitters, Inc. (a) | | | 100,000 | | | | 2,579,000 | |
| Buckle, Inc. (The) (a) | | | 50,000 | | | | 2,013,500 | |
| Gap, Inc. (The) (a) | | | 40,000 | | | | 1,102,000 | |
| Hibbett, Inc. (a) | | | 20,000 | | | | 1,536,200 | |
| Kohl’s Corporation (a) | | | 40,000 | | | | 1,166,000 | |
| lululemon athletica, inc. (b) | | | 6,000 | | | | 2,343,900 | |
| Macy’s, Inc. (a) | | | 50,000 | | | | 999,500 | |
| Sally Beauty Holdings, Inc. (a)(b) | | | 100,000 | | | | 1,242,000 | |
| Ulta Beauty, Inc. (a)(b) | | | 6,000 | | | | 3,137,280 | |
| Urban Outfitters, Inc. (a)(b) | | | 80,000 | | | | 3,473,600 | |
| | | | | | | | 19,592,980 | |
| Consumer Staples - 15.9% | | | | | | | | |
| Beverages - 2.1% | | | | | | | | |
| Coca-Cola Company (The) (a) | | | 30,000 | | | | 1,835,400 | |
| PepsiCo, Inc. (a) | | | 30,000 | | | | 5,250,300 | |
| | | | | | | | 7,085,700 | |
| Food - 8.8% | | | | | | | | |
| BellRing Brands, Inc. (a)(b) | | | 20,000 | | | | 1,180,600 | |
| Campbell Soup Company (a) | | | 100,000 | | | | 4,445,000 | |
| Flowers Foods, Inc. (a) | | | 30,000 | | | | 712,500 | |
| Fresh Del Monte Produce, Inc. (a) | | | 20,000 | | | | 518,200 | |
| General Mills, Inc. (a) | | | 60,000 | | | | 4,198,200 | |
| Hershey Company (The) (a) | | | 20,000 | | | | 3,890,000 | |
| Ingredion, Inc. (a) | | | 30,000 | | | | 3,505,500 | |
| J.M. Smucker Company (The) (a) | | | 20,000 | | | | 2,517,400 | |
| Kellanova (a) | | | 60,000 | | | | 3,437,400 | |
| Kraft Heinz Company (The) (a) | | | 40,000 | | | | 1,476,000 | |
| Lamb Weston Holdings, Inc. (a) | | | 30,000 | | | | 3,195,900 | |
| Post Holdings, Inc. (a)(b) | | | 10,000 | | | | 1,062,800 | |
| | | | | | | | 30,139,500 | |
| Household Products - 2.4% | | | | | | | | |
| Colgate-Palmolive Company (a) | | | 40,000 | | | | 3,602,000 | |
| Kimberly-Clark Corporation (a) | | | 34,000 | | | | 4,397,900 | |
| | | | | | | | 7,999,900 | |
| HUSSMAN STRATEGIC GROWTH FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| COMMON STOCKS - 109.8% (continued) | | Shares | | | Value | |
| Consumer Staples - 15.9% (continued) | | | | | | | | |
| Retail - Consumer Staples - 1.8% | | | | | | | | |
| BJ’s Wholesale Club Holdings, Inc. (a)(b) | | | 10,000 | | | $ | 756,500 | |
| Kroger Company (The) (a) | | | 20,000 | | | | 1,142,600 | |
| Natural Grocers by Vitamin Cottage, Inc. (a) | | | 100,000 | | | | 1,805,000 | |
| Sprouts Farmers Market, Inc. (a)(b) | | | 20,000 | | | | 1,289,600 | |
| Walgreens Boots Alliance, Inc. (a) | | | 60,000 | | | | 1,301,400 | |
| | | | | | | | 6,295,100 | |
| Wholesale - Consumer Staples - 0.8% | | | | | | | | |
| Performance Food Group Company (a)(b) | | | 20,000 | | | | 1,492,800 | |
| United Natural Foods, Inc. (a)(b) | | | 100,000 | | | | 1,149,000 | |
| | | | | | | | 2,641,800 | |
| Energy - 5.4% | | | | | | | | |
| Oil & Gas Producers - 3.1% | | | | | | | | |
| APA Corporation (a) | | | 40,000 | | | | 1,375,200 | |
| California Resources Corporation (a) | | | 40,000 | | | | 2,204,000 | |
| Civitas Resources, Inc. (a) | | | 20,000 | | | | 1,518,200 | |
| Diamondback Energy, Inc. (a) | | | 10,000 | | | | 1,981,700 | |
| Range Resources Corporation (a) | | | 40,000 | | | | 1,377,200 | |
| SM Energy Company (a) | | | 20,000 | | | | 997,000 | |
| Vital Energy, Inc. (a)(b) | | | 20,000 | | | | 1,050,800 | |
| | | | | | | | 10,504,100 | |
| Renewable Energy - 2.3% | | | | | | | | |
| Array Technologies, Inc. (a)(b) | | | 160,000 | | | | 2,385,600 | |
| Canadian Solar, Inc. (a)(b) | | | 200,000 | | | | 3,952,000 | |
| SolarEdge Technologies, Inc. (b) | | | 20,000 | | | | 1,419,600 | |
| | | | | | | | 7,757,200 | |
| Financials - 1.4% | | | | | | | | |
| Banking - 0.6% | | | | | | | | |
| Customers Bancorp, Inc. (a)(b) | | | 40,000 | | | | 2,122,400 | |
| | | | | | | | | |
| Insurance - 0.8% | | | | | | | | |
| Unum Group (a) | | | 50,000 | | | | 2,683,000 | |
| | | | | | | | | |
| Health Care - 20.5% | | | | | | | | |
| Biotech & Pharma - 14.6% | | | | | | | | |
| ACADIA Pharmaceuticals, Inc. (a)(b) | | | 40,000 | | | | 739,600 | |
| Amgen, Inc. (a) | | | 10,000 | | | | 2,843,200 | |
| HUSSMAN STRATEGIC GROWTH FUND | | | | | | | | |
| SCHEDULE OF INVESTMENTS (continued) | | | | | | | | |
| | | | | | | | | |
| COMMON STOCKS - 109.8% (continued) | | Shares | | | Value | |
| Health Care - 20.5% (continued) | | | | | | | | |
| Biotech & Pharma - 14.6% (continued) | | | | | | | | |
| Amphastar Pharmaceuticals, Inc. (a)(b) | | | 60,000 | | | $ | 2,634,600 | |
| ANI Pharmaceuticals, Inc. (a)(b) | | | 30,000 | | | | 2,073,900 | |
| Biogen, Inc. (a)(b) | | | 6,000 | | | | 1,293,780 | |
| Catalyst Pharmaceuticals, Inc. (a)(b) | | | 100,000 | | | | 1,594,000 | |
| Corcept Therapeutics, Inc. (a)(b) | | | 80,000 | | | | 2,015,200 | |
| Dianthus Therapeutics, Inc. (a)(b) | | | 20,000 | | | | 600,000 | |
| Dynavax Technologies Corporation (a)(b) | | | 80,000 | | | | 992,800 | |
| Exelixis, Inc. (a)(b) | | | 140,000 | | | | 3,322,200 | |
| Gilead Sciences, Inc. (a) | | | 40,000 | | | | 2,930,000 | |
| Halozyme Therapeutics, Inc. (a)(b) | | | 30,000 | | | | 1,220,400 | |
| Harmony Biosciences Holdings, Inc. (a)(b) | | | 20,000 | | | | 671,600 | |
| Incyte Corporation (a)(b) | | | 30,000 | | | | 1,709,100 | |
| Innoviva, Inc. (a)(b) | | | 160,000 | | | | 2,438,400 | |
| Iovance Biotherapeutics, Inc. (a)(b) | | | 80,000 | | | | 1,185,600 | |
| Johnson & Johnson (a) | | | 24,000 | | | | 3,796,560 | |
| Kiniksa Pharmaceuticals, Ltd. - Class A (a)(b) | | | 150,000 | | | | 2,959,500 | |
| Marinus Pharmaceuticals, Inc (a)(b) | | | 70,000 | | | | 632,800 | |
| Neurocrine Biosciences, Inc. (a)(b) | | | 10,000 | | | | 1,379,200 | |
| Novo Nordisk A/S - ADR (a) | | | 30,000 | | | | 3,852,000 | |
| Pacira BioSciences, Inc. (a)(b) | | | 20,000 | | | | 584,400 | |
| PetIQ, Inc. (a)(b) | | | 20,000 | | | | 365,600 | |
| Pfizer, Inc. (a) | | | 100,000 | | | | 2,775,000 | |
| Recursion Pharmaceuticals, Inc. - Class A (a)(b) | | | 40,000 | | | | 398,800 | |
| Regeneron Pharmaceuticals, Inc. (a)(b) | | | 2,000 | | | | 1,924,980 | |
| Roivant Sciences Ltd. (b) | | | 100,000 | | | | 1,054,000 | |
| Vertex Pharmaceuticals, Inc. (a)(b) | | | 3,000 | | | | 1,254,030 | |
| Voyager Therapeutics, Inc. (a)(b) | | | 50,000 | | | | 465,500 | |
| | | | | | | | 49,706,750 | |
| Health Care Facilities & Services - 3.6% | | | | | | | | |
| Centene Corporation (a)(b) | | | 20,000 | | | | 1,569,600 | |
| DaVita, Inc. (a)(b) | | | 20,000 | | | | 2,761,000 | |
| HCA Healthcare, Inc. (a) | | | 6,000 | | | | 2,001,180 | |
| Patterson Companies, Inc. (a) | | | 140,000 | | | | 3,871,000 | |
| UnitedHealth Group, Inc. (a) | | | 2,000 | | | | 989,400 | |
| HUSSMAN STRATEGIC GROWTH FUND | | | |
| SCHEDULE OF INVESTMENTS (continued) | | | |
| | | | |
| COMMON STOCKS - 109.8% (continued) | | Shares | | | Value | |
| Health Care - 20.5% (continued) | | | | | | | | |
| Health Care Facilities & Services - 3.6% (continued) | | | | | | | | |
| Universal Health Services, Inc. - Class B (a) | | | 6,000 | | | $ | 1,094,760 | |
| | | | | | | | 12,286,940 | |
| Medical Equipment & Devices - 2.3% | | | | | | | | |
| Avita Medical, Inc. (a)(b) | | | 40,000 | | | | 641,200 | |
| Exact Sciences Corporation (a)(b) | | | 40,000 | | | | 2,762,400 | |
| Shockwave Medical, Inc. (a)(b) | | | 12,000 | | | | 3,907,560 | |
| Zynex, Inc. (a)(b) | | | 50,000 | | | | 618,500 | |
| | | | | | | | 7,929,660 | |
| Industrials - 9.7% | | | | | | | | |
| Commercial Support Services - 0.3% | | | | | | | | |
| H&R Block, Inc. (a) | | | 20,000 | | | | 982,200 | |
| | | | | | | | | |
| Electrical Equipment - 4.3% | | | | | | | | |
| Bel Fuse, Inc. - Class B (a) | | | 12,000 | | | | 723,720 | |
| Bloom Energy Corporation - Class A (a)(b) | | | 50,000 | | | | 562,000 | |
| NEXTracker, Inc. - Class A (a)(b) | | | 70,000 | | | | 3,938,900 | |
| OSI Systems, Inc. (a)(b) | | | 16,000 | | | | 2,285,120 | |
| Powell Industries, Inc. (a) | | | 6,000 | | | | 853,800 | |
| Select Water Solutions, Inc. - Class A (a) | | | 100,000 | | | | 923,000 | |
| Veritiv Holdings Company - Class A (a) | | | 20,000 | | | | 1,633,400 | |
| Vontier Corporation (a) | | | 80,000 | | | | 3,628,800 | |
| | | | | | | | 14,548,740 | |
| Engineering & Construction - 1.3% | | | | | | | | |
| Dycom Industries, Inc. (a)(b) | | | 12,000 | | | | 1,722,360 | |
| Primoris Services Corporation (a) | | | 60,000 | | | | 2,554,200 | |
| | | | | | | | 4,276,560 | |
| Industrial Support Services - 0.4% | | | | | | | | |
| MSC Industrial Direct Company, Inc. - Class A (a) | | | 14,000 | | | | 1,358,560 | |
| | | | | | | | | |
| Machinery - 1.6% | | | | | | | | |
| American Superconductor Corporation (a)(b) | | | 100,000 | | | | 1,351,000 | |
| Symbotic, Inc (a)(b) | | | 90,000 | | | | 4,050,000 | |
| | | | | | | | 5,401,000 | |
| HUSSMAN STRATEGIC GROWTH FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| COMMON STOCKS - 109.8% (continued) | | Shares | | | Value | |
| Industrials - 9.7% (continued) | | | | | | | | |
| Transportation & Logistics - 1.4% | | | | | | | | |
| FedEx Corporation (a) | | | 10,000 | | | $ | 2,897,400 | |
| Heartland Express, Inc. (a) | | | 40,000 | | | | 477,600 | |
| United Parcel Service, Inc. - Class B (a) | | | 10,000 | | | | 1,486,300 | |
| | | | | | | | 4,861,300 | |
| Transportation Equipment - 0.5% | | | | | | | | |
| Allison Transmission Holdings, Inc. (a) | | | 20,000 | | | | 1,623,200 | |
| | | | | | | | | |
| Materials - 6.2% | | | | | | | | |
| Chemicals - 1.2% | | | | | | | | |
| Ingevity Corporation (a)(b) | | | 18,000 | | | | 858,600 | |
| Mosaic Company (The) (a) | | | 100,000 | | | | 3,246,000 | |
| | | | | | | | 4,104,600 | |
| Metals & Mining - 5.0% | | | | | | | | |
| Agnico Eagle Mines Ltd. (a) | | | 80,000 | | | | 4,772,000 | |
| Anglogold Ashanti plc (a) | | | 70,000 | | | | 1,554,000 | |
| Barrick Gold Corporation (a) | | | 300,000 | | | | 4,992,000 | |
| Cameco Corporation (a) | | | 20,000 | | | | 866,400 | |
| Kinross Gold Corporation (a) | | | 50,000 | | | | 306,500 | |
| Newmont Corporation (a) | | | 90,000 | | | | 3,225,600 | |
| Royal Gold, Inc. (a) | | | 12,000 | | | | 1,461,720 | |
| | | | | | | | 17,178,220 | |
| Technology - 28.2% | | | | | | | | |
| Semiconductors - 5.9% | | | | | | | | |
| ACM Research, Inc. - Class A (a)(b) | | | 150,000 | | | | 4,371,000 | |
| Allegro MicroSystems, Inc. (a)(b) | | | 20,000 | | | | 539,200 | |
| Applied Materials, Inc. (a) | | | 10,000 | | | | 2,062,300 | |
| Axcelis Technologies, Inc. (a)(b) | | | 10,000 | | | | 1,115,200 | |
| Broadcom, Inc. (a) | | | 200 | | | | 265,082 | |
| Intel Corporation (a) | | | 80,000 | | | | 3,533,600 | |
| NVE Corporation (a) | | | 20,000 | | | | 1,803,600 | |
| NVIDIA Corporation (a) | | | 2,000 | | | | 1,807,120 | |
| Photronics, Inc. (a)(b) | | | 120,000 | | | | 3,398,400 | |
| QUALCOMM, Inc. (a) | | | 6,000 | | | | 1,015,800 | |
| | | | | | | | 19,911,302 | |
| HUSSMAN STRATEGIC GROWTH FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| COMMON STOCKS - 109.8% (continued) | | Shares | | | Value | |
| Technology - 28.2% (continued) | | | | | | | | |
| Software - 7.6% | | | | | | | | |
| Adobe, Inc. (a)(b) | | | 4,000 | | | $ | 2,018,400 | |
| Akamai Technologies, Inc. (a)(b) | | | 40,000 | | | | 4,350,400 | |
| Asana, Inc. - Class A (a)(b) | | | 20,000 | | | | 309,800 | |
| Bandwidth, Inc. - Class A (a)(b) | | | 100,000 | | | | 1,826,000 | |
| Confluent, Inc. - Class A (a)(b) | | | 40,000 | | | | 1,220,800 | |
| Couchbase, Inc. (a)(b) | | | 30,000 | | | | 789,300 | |
| Dropbox, Inc. - Class A (a)(b) | | | 70,000 | | | | 1,701,000 | |
| Dynatrace, Inc. (a)(b) | | | 10,000 | | | | 464,400 | |
| Elastic N.V. (a)(b) | | | 36,000 | | | | 3,608,640 | |
| Fastly, Inc. - Class A (a)(b) | | | 160,000 | | | | 2,075,200 | |
| Gen Digital, Inc. (a) | | | 20,000 | | | | 448,000 | |
| Informatica, Inc. - Class A (a)(b) | | | 30,000 | | | | 1,050,000 | |
| IonQ, Inc. (a)(b) | | | 340,000 | | | | 3,396,600 | |
| Microsoft Corporation (a) | | | 400 | | | | 168,288 | |
| MongoDB, Inc. (a)(b) | | | 2,000 | | | | 717,280 | |
| Salesforce, Inc. (a) | | | 2,000 | | | | 602,360 | |
| Schrodinger, Inc. (a)(b) | | | 20,000 | | | | 540,000 | |
| Twilio, Inc. - Class A (a)(b) | | | 12,000 | | | | 733,800 | |
| | | | | | | | 26,020,268 | |
| Technology Hardware - 11.7% | | | | | | | | |
| Apple, Inc. (a) | | | 600 | | | | 102,888 | |
| Applied Optoelectronics, Inc. (a)(b) | | | 180,000 | | | | 2,494,800 | |
| Arlo Technologies, Inc. (a)(b) | | | 60,000 | | | | 759,000 | |
| Benchmark Electronics, Inc. (a) | | | 40,000 | | | | 1,200,400 | |
| Ciena Corporation (a)(b) | | | 20,000 | | | | 989,000 | |
| Cisco Systems, Inc. (a) | | | 80,000 | | | | 3,992,800 | |
| Clearfield, Inc. (a)(b) | | | 20,000 | | | | 616,800 | |
| Dell Technologies, Inc. - Class C (a) | | | 20,000 | | | | 2,282,200 | |
| F5, Inc. (a)(b) | | | 20,000 | | | | 3,791,800 | |
| Fabrinet (a)(b) | | | 10,000 | | | | 1,890,200 | |
| Flex Ltd. (a)(b) | | | 80,000 | | | | 2,288,800 | |
| InterDigital, Inc. (a) | | | 40,000 | | | | 4,258,400 | |
| Jabil, Inc. (a) | | | 20,000 | | | | 2,679,000 | |
| NetApp, Inc. (a) | | | 40,000 | | | | 4,198,800 | |
| Pure Storage, Inc. - Class A (a)(b) | | | 14,000 | | | | 727,860 | |
| Super Micro Computer, Inc. (a)(b) | | | 4,000 | | | | 4,040,120 | |
| Ubiquiti, Inc. (a) | | | 30,000 | | | | 3,475,500 | |
| | | | | | | | 39,788,368 | |
| HUSSMAN STRATEGIC GROWTH FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| COMMON STOCKS - 109.8% (continued) | | | | | Shares | | | Value | |
| Technology - 28.2% (continued) | | | | | | | | | | | | |
| Technology Services - 3.0% | | | | | | | | | | | | |
| Cognizant Technology Solutions Corporation - Class A (a) | | | | | | | 60,000 | | | $ | 4,397,400 | |
| Corpay, Inc. (a)(b) | | | | | | | 10,000 | | | | 3,085,400 | |
| Infosys Ltd. - ADR (a) | | | | | | | 80,000 | | | | 1,434,400 | |
| PayPal Holdings, Inc. (a)(b) | | | | | | | 20,000 | | | | 1,339,800 | |
| | | | | | | | | | | | 10,257,000 | |
| Utilities - 1.2% | | | | | | | | | | | | |
| Electric Utilities - 0.7% | | | | | | | | | | | | |
| Fluence Energy, Inc. (a)(b) | | | | | | | 60,000 | | | | 1,040,400 | |
| NRG Energy, Inc. (a) | | | | | | | 20,000 | | | | 1,353,800 | |
| | | | | | | | | | | | 2,394,200 | |
| Water Utilities - 0.5% | | | | | | | | | | | | |
| Consolidated Water Company, Ltd. (a) | | | | | | | 60,000 | | | | 1,758,600 | |
| | | | | | | | | | | | | |
| Total Common Stocks (Cost $357,727,521) | | | | | | | | | | $ | 374,007,218 | |
| | | | | | | | | | | | | |
| WARRANTS - 0.0%(c) | | | | | | Shares | | | Value | |
| Energy - 0.0% (c) | | | | | | | | | | | | |
| Oil & Gas Services & Equipment - 0.0% (c) | | | | | | | | | | | | |
| Nabors Industries Ltd., expires 06/11/2026 (Cost $0) | | | | | | | 8,000 | | | $ | 65,600 | |
| | | | | | | | | | | | | |
| EXCHANGE-TRADED PUT OPTION CONTRACTS - 1.8% | | Contracts | | | Notional Amount | | | Value | |
| Russell 2000® Index Option, 05/17/2024 at $2,100 | | | 700 | | | $ | 148,718,500 | | | $ | 2,951,900 | |
| S&P 500® Index Option, 05/17/2024 at $5,250 | | | 420 | | | | 220,682,700 | | | | 3,074,400 | |
| Total Put Option Contracts (Cost $5,766,157) | | | | | | $ | 369,401,200 | | | $ | 6,026,300 | |
| | | | | | | | | | | | | |
| Total Investments at Value - 111.6% (Cost $363,493,678) | | | | | | | | | | $ | 380,099,118 | |
| HUSSMAN STRATEGIC GROWTH FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| MONEY MARKET FUNDS - 40.9% | | Shares | | | Value | |
| Invesco Treasury Portfolio - Institutional Class, 5.21% (d) (Cost $139,459,247) | | | 139,459,247 | | | $ | 139,459,247 | |
| | | | | | | | | |
| Total Investments and Money Market Funds at Value - 152.5% (Cost $502,952,925) | | | | | | $ | 519,558,365 | |
| | | | | | | | | |
| Written Call Option Contracts - (54.5%) | | | | | | | (185,683,820 | ) |
| | | | | | | | | |
| Other Assets in Excess of Liabilities - 2.0% | | | | | | | 6,889,674 | |
| | | | | | | | | |
| Net Assets - 100.0% | | | | | | $ | 340,764,219 | |
ADR - American Depositary Receipt.
| (a) | All or portion of the security is used as collateral to cover written call options. The total value of the securities held as collateral as of March 31, 2024 was $39,100,378. |
| | |
| (b) | Non-income producing security. |
| | |
| (c) | Percentage rounds to less than 0.1%. |
| | |
| (d) | The rate shown is the 7-day effective yield as of March 31, 2024. |
The average monthly notional value of exchange-traded put option contract during the nine months ended March 31, 2024 was $429,240,765.
| HUSSMAN STRATEGIC GROWTH FUND |
| SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS |
| March 31, 2024 (Unaudited) |
| |
EXCHANGE-TRADED WRITTEN CALL
OPTION CONTRACTS | | Contracts | | Notional
Amount | | | Strike Price | | | Expiration
Date | | Value of
Options | |
| Call Option Contracts |
| Russell 2000® Index Option | | 700 | | $ | 148,718,500 | | | $ | 1,200 | | | 06/21/2024 | | $ | 65,282,000 | |
| S&P 500® Index Option | | 420 | | | 220,682,700 | | | | 2,400 | | | 06/21/2024 | | | 120,401,820 | |
| Total Written Call Option Contracts (Premiums received $175,760,281) | | $ | 369,401,200 | | | | | | | | | $ | 185,683,820 | |
| | | | | | | | | | | | | | | | | |
The average notional value of exchange-traded written call option contracts during the nine months ended March 31, 2024 was $429,240,765.
| HUSSMAN STRATEGIC ALLOCATION FUND |
| SCHEDULE OF INVESTMENTS |
| March 31, 2024 (Unaudited) |
| |
| COMMON STOCKS - 67.6% | | Shares | | | Value | |
| Communications - 5.1% | | | | | | | | |
| Cable & Satellite - 0.8% | | | | | | | | |
| Comcast Corporation - Class A (a) | | | 5,000 | | | $ | 216,750 | |
| | | | | | | | | |
| Entertainment Content - 0.6% | | | | | | | | |
| AppLovin Corporation - Class A (a)(b) | | | 2,500 | | | | 173,050 | |
| | | | | | | | | |
| Internet Media & Services - 3.1% | | | | | | | | |
| Airbnb, Inc. - Class A (b) | | | 200 | | | | 32,992 | |
| Alphabet, Inc. - Class C (a)(b) | | | 2,000 | | | | 304,520 | |
| Booking Holdings, Inc. | | | 10 | | | | 36,279 | |
| DoorDash, Inc. - Class A (a)(b) | | | 500 | | | | 68,860 | |
| LifeMD, Inc. (b) | | | 2,000 | | | | 20,560 | |
| Meta Platforms, Inc. - Class A (a) | | | 400 | | | | 194,232 | |
| Netflix, Inc. (b) | | | 40 | | | | 24,293 | |
| Shutterstock, Inc. (a) | | | 2,000 | | | | 91,620 | |
| Uber Technologies, Inc. (a)(b) | | | 1,000 | | | | 76,990 | |
| | | | | | | | 850,346 | |
| Telecommunications - 0.6% | | | | | | | | |
| Verizon Communications, Inc. (a) | | | 4,000 | | | | 167,840 | |
| | | | | | | | | |
| Consumer Discretionary - 7.9% | | | | | | | | |
| Apparel & Textile Products - 0.8% | | | | | | | | |
| Kontoor Brands, Inc. (a) | | | 2,500 | | | | 150,625 | |
| Skechers U.S.A., Inc. - Class A (a)(b) | | | 1,000 | | | | 61,260 | |
| | | | | | | | 211,885 | |
| Consumer Services - 0.7% | | | | | | | | |
| Coursera, Inc. (b) | | | 8,000 | | | | 112,160 | |
| Perdoceo Education Corporation (a) | | | 4,500 | | | | 79,020 | |
| | | | | | | | 191,180 | |
| E-Commerce Discretionary - 1.2% | | | | | | | | |
| Amazon.com, Inc. (a)(b) | | | 1,500 | | | | 270,570 | |
| Etsy, Inc. (a)(b) | | | 1,000 | | | | 68,720 | |
| | | | | | | | 339,290 | |
| Home Construction - 0.1% | | | | | | | | |
| Forestar Group, Inc. (a)(b) | | | 1,000 | | | | 40,190 | |
| | | | | | | | | |
| Leisure Facilities & Services - 1.5% | | | | | | | | |
| Domino’s Pizza, Inc. (a) | | | 200 | | | | 99,376 | |
| Shake Shack, Inc. - Class A (a)(b) | | | 300 | | | | 31,209 | |
| Starbucks Corporation (a) | | | 1,500 | | | | 137,085 | |
| HUSSMAN STRATEGIC ALLOCATION FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| COMMON STOCKS - 67.6% (continued) | | Shares | | | Value | |
| Consumer Discretionary - 7.9% (continued) | | | | | | | | |
| Leisure Facilities & Services - 1.5% (continued) | | | | | | | | |
| Sweetgreen, Inc. - Class A (a)(b) | | | 6,000 | | | $ | 151,560 | |
| | | | | | | | 419,230 | |
| Retail - Discretionary - 3.6% | | | | | | | | |
| American Eagle Outfitters, Inc. (a) | | | 5,000 | | | | 128,950 | |
| Buckle, Inc. (The) (a) | | | 2,500 | | | | 100,675 | |
| Gap, Inc. (The) (a) | | | 2,000 | | | | 55,100 | |
| Hibbett, Inc. (a) | | | 1,000 | | | | 76,810 | |
| Kohl’s Corporation (a) | | | 2,000 | | | | 58,300 | |
| lululemon athletica, inc. (b) | | | 300 | | | | 117,195 | |
| Macy’s, Inc. (a) | | | 2,500 | | | | 49,975 | |
| Sally Beauty Holdings, Inc. (a)(b) | | | 5,000 | | | | 62,100 | |
| Ulta Beauty, Inc. (a)(b) | | | 300 | | | | 156,864 | |
| Urban Outfitters, Inc. (a)(b) | | | 4,000 | | | | 173,680 | |
| | | | | | | | 979,649 | |
| Consumer Staples - 9.8% | | | | | | | | |
| Beverages - 1.3% | | | | | | | | |
| Coca-Cola Company (The) (a) | | | 1,500 | | | | 91,770 | |
| PepsiCo, Inc. (a) | | | 1,500 | | | | 262,515 | |
| | | | | | | | 354,285 | |
| Food - 5.5% | | | | | | | | |
| BellRing Brands, Inc. (a)(b) | | | 1,000 | | | | 59,030 | |
| Campbell Soup Company (a) | | | 5,000 | | | | 222,250 | |
| Flowers Foods, Inc. | | | 1,500 | | | | 35,625 | |
| Fresh Del Monte Produce, Inc. (a) | | | 1,000 | | | | 25,910 | |
| General Mills, Inc. (a) | | | 3,000 | | | | 209,910 | |
| Hershey Company (The) (a) | | | 1,000 | | | | 194,500 | |
| Ingredion, Inc. (a) | | | 1,500 | | | | 175,275 | |
| J.M. Smucker Company (The) (a) | | | 1,000 | | | | 125,870 | |
| Kellanova (a) | | | 3,000 | | | | 171,870 | |
| Kraft Heinz Company (The) (a) | | | 2,000 | | | | 73,800 | |
| Lamb Weston Holdings, Inc. (a) | | | 1,500 | | | | 159,795 | |
| Post Holdings, Inc. (a)(b) | | | 500 | | | | 53,140 | |
| | | | | | | | 1,506,975 | |
| Household Products - 1.4% | | | | | | | | |
| Colgate-Palmolive Company (a) | | | 2,000 | | | | 180,100 | |
| Kimberly-Clark Corporation (a) | | | 1,700 | | | | 219,895 | |
| | | | | | | | 399,995 | |
| Retail - Consumer Staples - 1.1% | | | | | | | | |
| BJ’s Wholesale Club Holdings, Inc. (a)(b) | | | 500 | | | | 37,825 | |
| HUSSMAN STRATEGIC ALLOCATION FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| COMMON STOCKS - 67.6% (continued) | | Shares | | | Value | |
| Consumer Staples - 9.8% (continued) | | | | | | | | |
| Retail - Consumer Staples - 1.1% (continued) | | | | | | | | |
| Kroger Company (The) (a) | | | 1,000 | | | $ | 57,130 | |
| Natural Grocers by Vitamin Cottage, Inc. (a) | | | 5,000 | | | | 90,250 | |
| Sprouts Farmers Market, Inc. (a)(b) | | | 1,000 | | | | 64,480 | |
| Walgreens Boots Alliance, Inc. (a) | | | 3,000 | | | | 65,070 | |
| | | | | | | | 314,755 | |
| Wholesale - Consumer Staples - 0.5% | | | | | | | | |
| Performance Food Group Company (a)(b) | | | 1,000 | | | | 74,640 | |
| United Natural Foods, Inc. (a)(b) | | | 5,000 | | | | 57,450 | |
| | | | | | | | 132,090 | |
| Energy - 3.3% | | | | | | | | |
| Oil & Gas Producers - 1.9% | | | | | | | | |
| APA Corporation (a) | | | 2,000 | | | | 68,760 | |
| California Resources Corporation (a) | | | 2,000 | | | | 110,200 | |
| Civitas Resources, Inc. (a) | | | 1,000 | | | | 75,910 | |
| Diamondback Energy, Inc. (a) | | | 500 | | | | 99,085 | |
| Range Resources Corporation (a) | | | 2,000 | | | | 68,860 | |
| SM Energy Company (a) | | | 1,000 | | | | 49,850 | |
| Vital Energy, Inc. (a)(b) | | | 1,000 | | | | 52,540 | |
| | | | | | | | 525,205 | |
| Renewable Energy - 1.4% | | | | | | | | |
| Array Technologies, Inc. (a)(b) | | | 8,000 | | | | 119,280 | |
| Canadian Solar, Inc. (a)(b) | | | 10,000 | | | | 197,600 | |
| SolarEdge Technologies, Inc. (a)(b) | | | 1,000 | | | | 70,980 | |
| | | | | | | | 387,860 | |
| Financials - 0.9% | | | | | | | | |
| Banking - 0.4% | | | | | | | | |
| Customers Bancorp, Inc. (a)(b) | | | 2,000 | | | | 106,120 | |
| | | | | | | | | |
| Insurance - 0.5% | | | | | | | | |
| Unum Group (a) | | | 2,500 | | | | 134,150 | |
| | | | | | | | | |
| Health Care - 12.7% | | | | | | | | |
| Biotech & Pharma - 9.0% | | | | | | | | |
| ACADIA Pharmaceuticals, Inc. (a)(b) | | | 2,000 | | | | 36,980 | |
| Amgen, Inc. (a) | | | 500 | | | | 142,160 | |
| Amphastar Pharmaceuticals, Inc. (a)(b) | | | 3,000 | | | | 131,730 | |
| ANI Pharmaceuticals, Inc. (a)(b) | | | 1,500 | | | | 103,695 | |
| Biogen, Inc. (a)(b) | | | 300 | | | | 64,689 | |
| HUSSMAN STRATEGIC ALLOCATION FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| COMMON STOCKS - 67.6% (continued) | | Shares | | | Value | |
| Health Care - 12.7% (continued) | | | | | | | | |
| Biotech & Pharma - 9.0% (continued) | | | | | | | | |
| Catalyst Pharmaceuticals, Inc. (a)(b) | | | 5,000 | | | $ | 79,700 | |
| Corcept Therapeutics, Inc. (a)(b) | | | 4,000 | | | | 100,760 | |
| Dianthus Therapeutics, Inc. (b) | | | 1,000 | | | | 30,000 | |
| Dynavax Technologies Corporation (a)(b) | | | 4,000 | | | | 49,640 | |
| Exelixis, Inc. (a)(b) | | | 7,000 | | | | 166,110 | |
| Gilead Sciences, Inc. (a) | | | 2,000 | | | | 146,500 | |
| Halozyme Therapeutics, Inc. (a)(b) | | | 1,500 | | | | 61,020 | |
| Harmony Biosciences Holdings, Inc. (a)(b) | | | 1,000 | | | | 33,580 | |
| Incyte Corporation (a)(b) | | | 1,500 | | | | 85,455 | |
| Innoviva, Inc. (a)(b) | | | 8,000 | | | | 121,920 | |
| Iovance Biotherapeutics, Inc. (a)(b) | | | 4,000 | | | | 59,280 | |
| Johnson & Johnson (a) | | | 1,200 | | | | 189,828 | |
| Kiniksa Pharmaceuticals, Ltd. - Class A (a)(b) | | | 7,500 | | | | 147,975 | |
| Marinus Pharmaceuticals, Inc (b) | | | 3,500 | | | | 31,640 | |
| Neurocrine Biosciences, Inc. (a)(b) | | | 500 | | | | 68,960 | |
| Novo Nordisk A/S - ADR (a) | | | 1,500 | | | | 192,600 | |
| Pacira BioSciences, Inc. (a)(b) | | | 1,000 | | | | 29,220 | |
| PetIQ, Inc. (b) | | | 1,000 | | | | 18,280 | |
| Pfizer, Inc. (a) | | | 5,000 | | | | 138,750 | |
| Recursion Pharmaceuticals, Inc. - Class A (b) | | | 2,000 | | | | 19,940 | |
| Regeneron Pharmaceuticals, Inc. (a)(b) | | | 100 | | | | 96,249 | |
| Roivant Sciences Ltd. (b) | | | 5,000 | | | | 52,700 | |
| Vertex Pharmaceuticals, Inc. (a)(b) | | | 150 | | | | 62,702 | |
| Voyager Therapeutics, Inc. (a)(b) | | | 2,500 | | | | 23,275 | |
| | | | | | | | 2,485,338 | |
| Health Care Facilities & Services - 2.2% | | | | | | | | |
| Centene Corporation (a)(b) | | | 1,000 | | | | 78,480 | |
| DaVita, Inc. (a)(b) | | | 1,000 | | | | 138,050 | |
| HCA Healthcare, Inc. (a) | | | 300 | | | | 100,059 | |
| Patterson Companies, Inc. (a) | | | 7,000 | | | | 193,550 | |
| UnitedHealth Group, Inc. (a) | | | 100 | | | | 49,470 | |
| Universal Health Services, Inc. - Class B (a) | | | 300 | | | | 54,738 | |
| | | | | | | | 614,347 | |
| Medical Equipment & Devices - 1.5% | | | | | | | | |
| Avita Medical, Inc. (b) | | | 2,000 | | | | 32,060 | |
| HUSSMAN STRATEGIC ALLOCATION FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| COMMON STOCKS - 67.6% (continued) | | Shares | | | Value | |
| Health Care - 12.7% (continued) | | | | | | | | |
| Medical Equipment & Devices - 1.5% (continued) | | | | | | | | |
| Exact Sciences Corporation (a)(b) | | | 2,000 | | | $ | 138,120 | |
| Shockwave Medical, Inc. (a)(b) | | | 600 | | | | 195,378 | |
| Zynex, Inc. (a)(b) | | | 2,500 | | | | 30,925 | |
| | | | | | | | 396,483 | |
| Industrials - 6.0% | | | | | | | | |
| Commercial Support Services - 0.2% | | | | | | | | |
| H&R Block, Inc. (a) | | | 1,000 | | | | 49,110 | |
| | | | | | | | | |
| Electrical Equipment - 2.6% | | | | | | | | |
| Bel Fuse, Inc. - Class B | | | 600 | | | | 36,186 | |
| Bloom Energy Corporation - Class A (a)(b) | | | 2,500 | | | | 28,100 | |
| NEXTracker, Inc. - Class A (a)(b) | | | 3,500 | | | | 196,945 | |
| OSI Systems, Inc. (a)(b) | | | 800 | | | | 114,256 | |
| Powell Industries, Inc. | | | 300 | | | | 42,690 | |
| Select Water Solutions, Inc. - Class A (a) | | | 5,000 | | | | 46,150 | |
| Veritiv Holdings Company - Class A (a) | | | 1,000 | | | | 81,670 | |
| Vontier Corporation (a) | | | 4,000 | | | | 181,440 | |
| | | | | | | | 727,437 | |
| Engineering & Construction - 0.8% | | | | | | | | |
| Dycom Industries, Inc. (a)(b) | | | 600 | | | | 86,118 | |
| Primoris Services Corporation (a) | | | 3,000 | | | | 127,710 | |
| | | | | | | | 213,828 | |
| Industrial Support Services - 0.2% | | | | | | | | |
| MSC Industrial Direct Company, Inc. - Class A (a) | | | 700 | | | | 67,928 | |
| | | | | | | | | |
| Machinery - 1.0% | | | | | | | | |
| American Superconductor Corporation (b) | | | 5,000 | | | | 67,550 | |
| Symbotic, Inc (a)(b) | | | 4,500 | | | | 202,500 | |
| | | | | | | | 270,050 | |
| Transportation & Logistics - 0.9% | | | | | | | | |
| FedEx Corporation (a) | | | 500 | | | | 144,870 | |
| Heartland Express, Inc. (a) | | | 2,000 | | | | 23,880 | |
| HUSSMAN STRATEGIC ALLOCATION FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| COMMON STOCKS - 67.6% (continued) | | Shares | | | Value | |
| Industrials - 6.0% (continued) | | | | | | | | |
| Transportation & Logistics - 0.9% (continued) | | | | | | | | |
| United Parcel Service, Inc. - Class B (a) | | | 500 | | | $ | 74,315 | |
| | | | | | | | 243,065 | |
| Transportation Equipment - 0.3% | | | | | | | | |
| Allison Transmission Holdings, Inc. (a) | | | 1,000 | | | | 81,160 | |
| | | | | | | | | |
| Materials - 3.8% | | | | | | | | |
| Chemicals - 0.7% | | | | | | | | |
| Ingevity Corporation (a)(b) | | | 900 | | | | 42,930 | |
| Mosaic Company (The) (a) | | | 5,000 | | | | 162,300 | |
| | | | | | | | 205,230 | |
| Metals & Mining - 3.1% | | | | | | | | |
| Agnico Eagle Mines Ltd. (a) | | | 4,000 | | | | 238,600 | |
| Anglogold Ashanti plc (a) | | | 3,500 | | | | 77,700 | |
| Barrick Gold Corporation (a) | | | 15,000 | | | | 249,600 | |
| Cameco Corporation | | | 1,000 | | | | 43,320 | |
| Kinross Gold Corporation | | | 2,500 | | | | 15,325 | |
| Newmont Corporation (a) | | | 4,500 | | | | 161,280 | |
| Royal Gold, Inc. (a) | | | 600 | | | | 73,086 | |
| | | | | | | | 858,911 | |
| Technology - 17.4% | | | | | | | | |
| Semiconductors - 3.6% | | | | | | | | |
| ACM Research, Inc. - Class A (a)(b) | | | 7,500 | | | | 218,550 | |
| Allegro MicroSystems, Inc. (a)(b) | | | 1,000 | | | | 26,960 | |
| Applied Materials, Inc. (a) | | | 500 | | | | 103,115 | |
| Axcelis Technologies, Inc. (a)(b) | | | 500 | | | | 55,760 | |
| Broadcom, Inc. (a) | | | 10 | | | | 13,254 | |
| Intel Corporation (a) | | | 4,000 | | | | 176,680 | |
| NVE Corporation (a) | | | 1,000 | | | | 90,180 | |
| NVIDIA Corporation (a) | | | 100 | | | | 90,356 | |
| Photronics, Inc. (a)(b) | | | 6,000 | | | | 169,920 | |
| QUALCOMM, Inc. (a) | | | 300 | | | | 50,790 | |
| | | | | | | | 995,565 | |
| Software - 4.7% | | | | | | | | |
| Adobe, Inc. (a)(b) | | | 200 | | | | 100,920 | |
| Akamai Technologies, Inc. (a)(b) | | | 2,000 | | | | 217,520 | |
| Asana, Inc. - Class A (b) | | | 1,000 | | | | 15,490 | |
| Bandwidth, Inc. - Class A (a)(b) | | | 5,000 | | | | 91,300 | |
| Confluent, Inc. - Class A (a)(b) | | | 2,000 | | | | 61,040 | |
| HUSSMAN STRATEGIC ALLOCATION FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| COMMON STOCKS - 67.6% (continued) | | Shares | | | Value | |
| Technology - 17.4% (continued) | | | | | | | | |
| Software - 4.7% (continued) | | | | | | | | |
| Couchbase, Inc. (b) | | | 1,500 | | | $ | 39,465 | |
| Dropbox, Inc. - Class A (a)(b) | | | 3,500 | | | | 85,050 | |
| Dynatrace, Inc. (a)(b) | | | 500 | | | | 23,220 | |
| Elastic N.V. (a)(b) | | | 1,800 | | | | 180,432 | |
| Fastly, Inc. - Class A (a)(b) | | | 8,000 | | | | 103,760 | |
| Gen Digital, Inc. (a) | | | 1,000 | | | | 22,400 | |
| Informatica, Inc. - Class A (a)(b) | | | 1,500 | | | | 52,500 | |
| IonQ, Inc. (a)(b) | | | 17,000 | | | | 169,830 | |
| Microsoft Corporation (a) | | | 20 | | | | 8,415 | |
| MongoDB, Inc. (b) | | | 100 | | | | 35,864 | |
| Salesforce, Inc. | | | 100 | | | | 30,118 | |
| Schrodinger, Inc. (a)(b) | | | 1,000 | | | | 27,000 | |
| Twilio, Inc. - Class A (a)(b) | | | 600 | | | | 36,690 | |
| | | | | | | | 1,301,014 | |
| Technology Hardware - 7.2% | | | | | | | | |
| Apple, Inc. (a) | | | 30 | | | | 5,144 | |
| Applied Optoelectronics, Inc. (a)(b) | | | 9,000 | | | | 124,740 | |
| Arlo Technologies, Inc. (b) | | | 3,000 | | | | 37,950 | |
| Benchmark Electronics, Inc. (a) | | | 2,000 | | | | 60,020 | |
| Ciena Corporation (a)(b) | | | 1,000 | | | | 49,450 | |
| Cisco Systems, Inc. (a) | | | 4,000 | | | | 199,640 | |
| Clearfield, Inc. (a)(b) | | | 1,000 | | | | 30,840 | |
| Dell Technologies, Inc. - Class C (a) | | | 1,000 | | | | 114,110 | |
| F5, Inc. (a)(b) | | | 1,000 | | | | 189,590 | |
| Fabrinet (b) | | | 500 | | | | 94,510 | |
| Flex Ltd. (a)(b) | | | 4,000 | | | | 114,440 | |
| InterDigital, Inc. (a) | | | 2,000 | | | | 212,920 | |
| Jabil, Inc. (a) | | | 1,000 | | | | 133,950 | |
| NetApp, Inc. (a) | | | 2,000 | | | | 209,940 | |
| Pure Storage, Inc. - Class A (b) | | | 700 | | | | 36,393 | |
| Super Micro Computer, Inc. (a)(b) | | | 200 | | | | 202,006 | |
| Ubiquiti, Inc. (a) | | | 1,500 | | | | 173,775 | |
| | | | | | | | 1,989,418 | |
| Technology Services - 1.9% | | | | | | | | |
| Cognizant Technology Solutions Corporation - Class A (a) | | | 3,000 | | | | 219,870 | |
| Corpay, Inc. (a)(b) | | | 500 | | | | 154,270 | |
| Infosys Ltd. - ADR (a) | | | 4,000 | | | | 71,720 | |
| PayPal Holdings, Inc. (a)(b) | | | 1,000 | | | | 66,990 | |
| | | | | | | | 512,850 | |
| HUSSMAN STRATEGIC ALLOCATION FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| COMMON STOCKS - 67.6% (continued) | | | | | Shares | | | Value | |
| Utilities - 0.7% | | | | | | | | | | | | |
| Electric Utilities - 0.4% | | | | | | | | | | | | |
| Fluence Energy, Inc. (a)(b) | | | | | | | 3,000 | | | $ | 52,020 | |
| NRG Energy, Inc. (a) | | | | | | | 1,000 | | | | 67,690 | |
| | | | | | | | | | | | 119,710 | |
| Water Utilities - 0.3% | | | | | | | | | | | | |
| Consolidated Water Company, Ltd. (a) | | | | | | | 3,000 | | | | 87,930 | |
| | | | | | | | | | | | | |
| Total Common Stocks (Cost $17,891,039) | | | | | | | | | | $ | 18,670,219 | |
| | | | | | | | | | | | | |
| U.S. TREASURY OBLIGATIONS - 11.5% | | | | | | Par Value | | | Value | |
| U.S. Treasury Inflation-Protected Notes - 10.1% | | | | | | | | | | | | |
| 0.500%, due 04/15/2024 | | | | | | $ | 611,435 | | | $ | 611,787 | |
| 0.125%, due 04/15/2026 | | | | | | | 1,175,840 | | | | 1,126,671 | |
| 0.125%, due 04/15/2027 | | | | | | | 546,170 | | | | 514,998 | |
| 0.125%, due 01/15/2031 | | | | | | | 592,285 | | | | 527,863 | |
| | | | | | | | | | | | 2,781,319 | |
| U.S. Treasury Notes - 1.4% | | | | | | | | | | | | |
| 0.625%, due 08/15/2030 | | | | | | | 500,000 | | | | 400,820 | |
| | | | | | | | | | | | | |
| Total U.S. Treasury Obligations (Cost $3,399,860) | | | | | | | | | | $ | 3,182,139 | |
| | | | | | | | | | | | | |
| WARRANTS - 0.0%(c) | | | | | | Shares | | | Value | |
| Energy - 0.0% (c) | | | | | | | | | | | | |
| Oil & Gas Services & Equipment - 0.0% (c) | | | | | | | | | | | | |
| Nabors Industries Ltd., expires 06/11/2026 (Cost $0) | | | | | | | 240 | | | $ | 1,968 | |
| | | | | | | | | | | | | |
| EXCHANGE-TRADED PUT OPTION CONTRACTS - 0.1% | | Contracts | | | Notional Amount | | | Value | |
| Russell 2000® Index Option, 06/21/2024 at $1,600 | | | 33 | | | $ | 7,011,015 | | | $ | 11,220 | |
| HUSSMAN STRATEGIC ALLOCATION FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| EXCHANGE-TRADED PUT OPTION CONTRACTS - 0.1% (continued) | | | | | Notional Amount | | | Value | |
| S&P 500® Index Option, 06/21/2024 at $3,600 | | | 19 | | | $ | 9,983,265 | | | $ | 5,700 | |
| Total Put Option Contracts (Cost $28,888) | | | | | | $ | 16,994,280 | | | $ | 16,920 | |
| | | | | | | | | | | | | |
| Total Investments at Value - 79.2% (Cost $21,319,787) | | | | | | | | | | $ | 21,871,246 | |
| | | | | | | | | | | | | |
| MONEY MARKET FUNDS - 36.8% | | | | | | Shares | | | Value | |
| Invesco Treasury Portfolio - Institutional Class, 5.21% (d) (Cost $10,155,792) | | | | | | | 10,155,792 | | | $ | 10,155,792 | |
| | | | | | | | | | | | | |
| Total Investments and Money Market Funds at Value - 116.0% (Cost $31,475,579) | | | | | | | | | | $ | 32,027,038 | |
| | | | | | | | | | | | | |
| Written Call Option Contracts - (18.0%) | | | | | | | | | | | (4,982,231 | ) |
| | | | | | | | | | | | | |
| Other Assets in Excess of Liabilities - 2.0% | | | | | | | | | | | 567,460 | |
| | | | | | | | | | | | | |
| Net Assets - 100.0% | | | | | | | | | | $ | 27,612,267 | |
ADR - American Depositary Receipt.
| (a) | All or portion of the security is used as collateral to cover written call options. The total value of the securities held as collateral as of March 31, 2024 was $16,349,871. |
| | |
| (b) | Non-income producing security. |
| | |
| (c) | Percentage rounds to less than 0.1%. |
| | |
| (d) | The rate shown is the 7-day effective yield as of March 31, 2024. |
The average monthly notional value of exchange-traded put option contract during the nine months ended March 31, 2024 was $18,885,299.
| HUSSMAN STRATEGIC ALLOCATION FUND |
| SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS |
| March 31, 2024 (Unaudited) |
| |
EXCHANGE-TRADED WRITTEN CALL
OPTION CONTRACTS | | Contracts | | Notional
Amount | | | Strike Price | | | Expiration
Date | | Value of
Options | |
| Call Option Contracts |
| Russell 2000® Index Option | | 33 | | $ | 7,011,015 | | | $ | 1,600 | | | 06/21/2024 | | $ | 1,783,980 | |
| S&P 500® Index Option | | 19 | | | 9,983,265 | | | | 3,600 | | | 06/21/2024 | | | 3,198,251 | |
| Total Written Call Option Contracts (Premiums received $4,564,508) | | $ | 16,994,280 | | | | | | | | | $ | 4,982,231 | |
| | | | | | | | | | | | | | | | | |
The average monthly notional value of exchange-traded written call option contract during the nine months ended March 31, 2024 was $18,885,299.
| HUSSMAN STRATEGIC TOTAL RETURN FUND |
| SCHEDULE OF INVESTMENTS |
| March 31, 2024 (Unaudited) |
| |
| COMMON STOCKS - 18.4% | | Shares | | | Value | |
| Energy - 1.3% | | | | | | | | |
| Oil & Gas Producers - 1.3% | | | | | | | | |
| California Resources Corporation | | | 15,000 | | | $ | 826,500 | |
| DT Midstream, Inc. | | | 500 | | | | 30,550 | |
| Range Resources Corporation | | | 15,000 | | | | 516,450 | |
| Vital Energy, Inc. (a) | | | 20,000 | | | | 1,050,800 | |
| | | | | | | | 2,424,300 | |
| Materials - 15.9% | | | | | | | | |
| Metals & Mining - 15.9% | | | | | | | | |
| Agnico Eagle Mines Ltd. | | | 120,000 | | | | 7,158,000 | |
| Anglogold Ashanti plc | | | 105,000 | | | | 2,331,000 | |
| B2Gold Corporation | | | 1,250,000 | | | | 3,262,500 | |
| Barrick Gold Corporation | | | 450,000 | | | | 7,488,000 | |
| Cameco Corporation | | | 20,000 | | | | 866,400 | |
| Freeport-McMoRan, Inc. | | | 18,000 | | | | 846,360 | |
| Kinross Gold Corporation | | | 75,000 | | | | 459,750 | |
| Newmont Corporation | | | 135,000 | | | | 4,838,400 | |
| Royal Gold, Inc. | | | 18,000 | | | | 2,192,580 | |
| | | | | | | | 29,442,990 | |
| Utilities - 1.2% | | | | | | | | |
| Electric Utilities - 1.2% | | | | | | | | |
| AES Corporation (The) | | | 1,000 | | | | 17,930 | |
| ALLETE, Inc. | | | 1,000 | | | | 59,640 | |
| Ameren Corporation | | | 100 | | | | 7,396 | |
| American Electric Power Company, Inc. | | | 100 | | | | 8,610 | |
| Avangrid, Inc. | | | 1,000 | | | | 36,440 | |
| Avista Corporation | | | 1,000 | | | | 35,020 | |
| Black Hills Corporation | | | 500 | | | | 27,300 | |
| Consolidated Edison, Inc. | | | 1,000 | | | | 90,810 | |
| Dominion Energy, Inc. | | | 500 | | | | 24,595 | |
| DTE Energy Company | | | 100 | | | | 11,214 | |
| Duke Energy Corporation | | | 500 | | | | 48,355 | |
| Edison International | | | 500 | | | | 35,365 | |
| Entergy Corporation | | | 500 | | | | 52,840 | |
| Exelon Corporation | | | 1,000 | | | | 37,570 | |
| FirstEnergy Corporation | | | 1,000 | | | | 38,620 | |
| Hawaiian Electric Industries, Inc. | | | 1,000 | | | | 11,270 | |
| NorthWestern Energy Group, Inc. | | | 1,000 | | | | 50,930 | |
| NRG Energy, Inc. | | | 20,000 | | | | 1,353,800 | |
| Otter Tail Corporation | | | 1,000 | | | | 86,400 | |
| HUSSMAN STRATEGIC TOTAL RETURN FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| COMMON STOCKS - 18.4% (continued) | | Shares | | | Value | |
| Utilities - 1.2% (continued) | | | | | | | | |
| Electric Utilities - 1.2% (continued) | | | | | | | | |
| Pinnacle West Capital Corporation | | | 1,000 | | | $ | 74,730 | |
| Portland General Electric Company | | | 1,000 | | | | 42,000 | |
| PPL Corporation | | | 1,000 | | | | 27,530 | |
| Public Service Enterprise Group, Inc. | | | 500 | | | | 33,390 | |
| Southern Company (The) | | | 500 | | | | 35,870 | |
| | | | | | | | 2,247,625 | |
| Gas & Water Utilities - 0.0% (b) | | | | | | | | |
| Global Water Resources, Inc. | | | 1,000 | | | | 12,840 | |
| | | | | | | | | |
| Total Common Stocks (Cost $32,284,410) | | | | | | $ | 34,127,755 | |
| | | | | | | | | |
| EXCHANGE-TRADED FUNDS - 1.7% | | Shares | | | Value | |
| Invesco CurrencyShares British Pound Sterling Trust | | | 10,000 | | | $ | 1,215,700 | |
| Invesco CurrencyShares Euro Currency Trust | | | 12,500 | | | | 1,246,375 | |
| Invesco CurrencyShares Japanese Yen Trust (a) | | | 12,500 | | | | 765,375 | |
| Total Exchange-Traded Funds (Cost $3,329,990) | | | | | | $ | 3,227,450 | |
| | | | | | | | | |
| U.S. TREASURY OBLIGATIONS - 77.0% | | Par Value | | | Value | |
| U.S. Treasury Bills (c) - 5.4% | | | | | | | | |
| 5.265%, due 05/21/2024 | | $ | 10,000,000 | | | $ | 9,926,944 | |
| | | | | | | | | |
| U.S. Treasury Inflation-Protected Notes - 43.3% | | | | | | | | |
| 0.500%, due 04/15/2024 | | | 12,228,700 | | | | 12,235,734 | |
| 0.125%, due 04/15/2026 | | | 11,758,400 | | | | 11,266,707 | |
| 0.125%, due 04/15/2027 | | | 21,846,800 | | | | 20,599,913 | |
| 2.500%, due 01/15/2029 | | | 14,362,500 | | | | 14,774,207 | |
| 0.125%, due 01/15/2030 | | | 11,985,300 | | | | 10,865,901 | |
| 0.125%, due 01/15/2031 | | | 11,845,700 | | | | 10,557,273 | |
| | | | | | | | 80,299,735 | |
| HUSSMAN STRATEGIC TOTAL RETURN FUND |
| SCHEDULE OF INVESTMENTS (continued) |
| |
| U.S. TREASURY OBLIGATIONS - 77.0% (continued) | | Par Value | | | Value | |
| U.S. Treasury Notes - 28.3% | | | | | | | | |
| 2.000%, due 05/31/2024 | | $ | 10,000,000 | | | $ | 9,946,104 | |
| 1.375%, due 01/31/2025 | | | 15,000,000 | | | | 14,545,902 | |
| 2.125%, due 05/31/2026 | | | 10,000,000 | | | | 9,498,438 | |
| 1.500%, due 08/15/2026 | | | 10,000,000 | | | | 9,324,219 | |
| 2.250%, due 11/15/2027 | | | 10,000,000 | | | | 9,308,398 | |
| | | | | | | | 52,623,061 | |
| | | | | | | | | |
| Total U.S. Treasury Obligations (Cost $148,183,469) | | | | | | $ | 142,849,740 | |
| | | | | | | | | |
| WARRANTS - 0.0%(b) | | Shares | | | Value | |
| Energy - 0.0% (b) | | | | | | | | |
| Oil & Gas Services & Equipment - 0.0% (b) | | | | | | | | |
| Nabors Industries Ltd., expires 06/11/2026 (Cost $0) | | | 8,000 | | | $ | 65,600 | |
| | | | | | | | | |
| Total Investments at Value - 97.1% (Cost $183,797,869) | | | | | | $ | 180,270,545 | |
| | | | | | | | | |
| MONEY MARKET FUNDS - 4.9% | | Shares | | | Value | |
| Invesco Treasury Portfolio - Institutional Class, 5.21% (d) (Cost $9,029,308) | | | 9,029,308 | | | $ | 9,029,308 | |
| | | | | | | | | |
| Total Investments and Money Market Funds at Value - 102.0% (Cost $192,827,177) | | | | | | $ | 189,299,853 | |
| | | | | | | | | |
| Liabilities in Excess of Other Assets - (2.0%) | | | | | | | (3,648,764 | ) |
| | | | | | | | | |
| Net Assets - 100.0% | | | | | | $ | 185,651,089 | |
| | | | | | | | | |
| (a) | Non-income producing security. |
| | |
| (b) | Percentage rounds to less than 0.1%. |
| | |
| (c) | Rate shown is the annualized yield at time of purchase, not a coupon rate. |
| | |
| (d) | The rate shown is the 7-day effective yield as of March 31, 2024. |
