Optimum Fixed Income Fund (OIFIX) NPORT-P Optimum Small-Mid Cap Growth Fund (Dec 2019 report)

Schedule of investments

Optimum Small-Mid Cap Growth Fund

December 31, 2019 (Unaudited)

	Number of		Value		Number of		Value
	shares		(US $)		shares		(US $)
Common Stock - 97.78%✧				Common Stock ✧(continued)
Communication Services - 1.40%				Financials (continued)
Lions Gate Entertainment				FirstCash	22,960	$	1,851,265
Class B †	93,026	$	923,748	Focus Financial Partners
Media General CVR =†	49,291		0	Class A †	61,607		1,815,558
Roku †	18,347		2,456,663	Goosehead Insurance Class A	39,730		1,684,552
Sea ADR †	72,546		2,917,800	Hamilton Lane Class A	39,924		2,379,470
Zynga Class A †	211,557		1,294,729	Palomar Holdings †	45,996		2,322,338
			7,592,940	Pinnacle Financial Partners	88,898		5,689,472
Consumer Discretionary - 11.28%				Stifel Financial	53,355		3,235,981
Boot Barn Holdings †	50,085		2,230,285	SVB Financial Group †	39,784		9,987,375
Burlington Stores †	43,651		9,953,738	Triumph Bancorp †	45,790		1,740,936
Callaway Golf	89,198		1,890,998	Virtu Financial Class A	66,350		1,060,937
CarMax †	63,926		5,604,392	Virtus Investment Partners	13,871		1,688,378
Chegg †	82,459		3,126,021				43,254,048
Chewy Class A †	109,945		3,188,405	Healthcare - 26.18%
Children’s Place	24,880		1,555,498	ACADIA Pharmaceuticals †	52,168		2,231,747
Crocs †	75,001		3,141,792	Adaptive Biotechnologies †	30,553		914,146
Eldorado Resorts †	60,532		3,610,128	Allscripts Healthcare
Extended Stay America	136,569		2,029,415	Solutions †	142,012		1,393,848
Five Below †	11,394		1,456,837	Alnylam Pharmaceuticals †	14,999		1,727,435
Floor & Decor Holdings Class				Amedisys †	22,886		3,820,131
A †	38,051		1,933,371	Amicus Therapeutics †	130,702		1,273,037
Fox Factory Holding †	36,472		2,537,357	AMN Healthcare Services †	43,610		2,717,339
G-III Apparel Group †	63,319		2,121,187	Arrowhead Pharmaceuticals †	12,000		761,160
Houghton Mifflin Harcourt †	162,396		1,014,975	AtriCure †	80,019		2,601,418
International Game				Axogen †	59,453		1,063,614
Technology	166,269		2,489,047	Axonics Modulation
Lululemon Athletica				Technologies †	63,111		1,748,806
(Canada) †	13,827		3,203,301	Bluebird Bio †	13,644		1,197,261
Monro	18,796		1,469,847	CareDx †	65,323		1,409,017
Papa John’s International	56,640		3,576,816	Cerus †	245,368		1,035,453
Skyline Champion †	85,247		2,702,330	CONMED	58,253		6,514,433
Strategic Education	15,204		2,415,916	CRISPR Therapeutics †	21,736		1,323,831
			61,251,656	CryoPort †	78,825		1,297,460
Consumer Staples - 1.40%				DexCom †	54,062		11,825,522
Freshpet †	34,057		2,012,428	Emergent BioSolutions †	30,891		1,666,569
Performance Food Group †	108,636		5,592,581	Evolent Health Class A ���	125,707		1,137,648
			7,605,009	Exact Sciences †	72,114		6,669,103
				Flexion Therapeutics †	60,962		1,261,913
Energy - 0.53%				Galapagos ADR †	6,678		1,381,211
GasLog (Monaco)	101,169		990,445	Glaukos †	40,921		2,228,967
Parsley Energy Class A	100,965		1,909,248	Haemonetics †	27,156		3,120,224
			2,899,693	HealthEquity †	26,279		1,946,486
Financials - 7.97%				Horizon Therapeutics †	156,093		5,650,567
Argo Group International				ICON (Ireland) †	23,069		3,973,174
Holdings (Bermuda)	33,983		2,234,382	Immunomedics †	70,858		1,499,355
BRP Group Class A †	54,198		869,878	Inspire Medical Systems †	106,975		7,938,615
Essent Group	68,786		3,576,184	Insulet †	28,041		4,800,619
Evercore Class A	41,698		3,117,342	Intercept Pharmaceuticals †	9,027		1,118,626

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Schedule of investments

Optimum Small-Mid Cap Growth Fund (Unaudited)

	Number of		Value		Number of		Value
	shares		(US $)		shares		(US $)
Common Stock ✧(continued)				Common Stock ✧(continued)
Healthcare (continued)				Industrials (continued)
Invitae †	77,355	$	1,247,736	Masonite International †	26,345	$	1,902,372
Ionis Pharmaceuticals †	21,956		1,326,362	Nordson	17,412		2,835,370
Iovance Biotherapeutics †	56,701		1,569,484	Owens Corning	60,837		3,961,705
Ironwood Pharmaceuticals †	131,369		1,748,521	PGT Innovations †	69,645		1,038,407
LHC Group †	24,095		3,319,327	Schneider National Class B	105,610		2,304,410
Mirati Therapeutics †	12,300		1,584,978	SPX †	69,802		3,551,526
Momenta Pharmaceuticals †	77,260		1,524,340	Tetra Tech	34,398		2,963,732
Natera †	124,336		4,188,880	TransUnion	66,022		5,652,143
Novocure †	15,531		1,308,797	Wabash National	104,305		1,532,240
Omnicell †	30,761		2,513,789	Woodward	20,454		2,422,572
Pacira BioSciences †	34,760		1,574,628				86,866,104
Penumbra †	19,853		3,261,252	Information Technology - 28.84%
PetIQ †	76,738		1,922,287	Ambarella	52,817		3,198,598
Phreesia †	46,394		1,235,936	Anaplan †	86,188		4,516,251
Portola Pharmaceuticals †	53,589		1,279,705	Benefitfocus †	43,920		963,605
Reata Pharmaceuticals Class				Black Knight †	42,643		2,749,621
A †	10,961		2,240,757	Box Class A †	134,937		2,264,243
Sage Therapeutics †	21,041		1,518,950	Cabot Microelectronics	14,543		2,098,846
Silk Road Medical †	46,114		1,862,083	Cerence †	17,345		392,517
Syneos Health †	67,959		4,041,862	Ciena †	83,502		3,564,700
Tabula Rasa HealthCare †	34,127		1,661,302	Cornerstone OnDemand †	54,854		3,211,702
Tactile Systems Technology †	43,120		2,911,031	CyberArk Software (Israel) †	22,848		2,663,620
Tandem Diabetes Care †	102,370		6,102,276	DocuSign †	19,363		1,434,992
Teladoc Health †	35,159		2,943,511	Euronet Worldwide †	18,407		2,900,207
			142,136,529	Everbridge †	63,206		4,935,124
Industrials - 16.00%				Five9 †	88,128		5,779,434
AAR	163,093		7,355,494	FormFactor †	85,584		2,222,616
AGCO	27,176		2,099,346	Inphi †	48,909		3,620,244
AO Smith	43,395		2,067,338	KBR	33,212		1,012,966
ASGN †	53,812		3,819,038	Keysight Technologies †	67,494		6,926,909
Atkore International Group †	49,209		1,990,996	Lattice Semiconductor †	196,787		3,766,503
Chart Industries †	26,248		1,771,478	LiveRamp Holdings †	74,517		3,582,032
CIRCOR International †	37,289		1,724,243	Lumentum Holdings †	52,637		4,174,114
Clean Harbors †	89,228		7,651,301	Manhattan Associates †	21,479		1,712,950
CoStar Group †	2,424		1,450,279	Mimecast †	45,975		1,994,396
Dycom Industries †	23,725		1,118,634	MKS Instruments	11,700		1,287,117
FTI Consulting †	13,251		1,466,356	Napco Security Technologies †	68,430		2,011,158
Gardner Denver Holdings †	56,395		2,068,569	NIC	100,928		2,255,741
Hub Group Class A †	37,792		1,938,352	Nuance Communications †	258,134		4,602,529
IAA †	37,103		1,746,067	Okta †	11,091		1,279,569
ICF International	31,861		2,919,105	ON Semiconductor †	181,097		4,415,145
Kansas City Southern	41,563		6,365,789	Onto Innovation †	51,696		1,888,972
KAR Auction Services	41,227		898,336	PagerDuty †	83,325		1,948,972
Knight-Swift Transportation				Paycom Software †	5,922		1,567,909
Holdings	49,175		1,762,432	PTC †	42,181		3,158,935
Kratos Defense & Security				Q2 Holdings †	80,060		6,491,265
Solutions †	113,604		2,046,008	Rapid7 †	101,863		5,706,365
Masco	134,246		6,442,466	RealPage †	64,166		3,448,923

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(Unaudited)
	Number of		Value		Number of			Value
	shares		(US $)		shares			(US $)
Common Stock ✧(continued)				Short-Term Investments - 2.08%
Information Technology (continued)				Money Market Mutual Funds - 2.08%
RingCentral Class A †	61,673	$	10,402,385	BlackRock
Silicon Motion Technology				FedFund - Institutional
ADR	38,257		1,940,012	Shares (seven-day effective
Sprout Social Class A †	26,814		430,365	yield 1.52%)	2,254,639		$	2,254,639
SS&C Technologies Holdings	73,583		4,517,996	Fidelity Investments Money
Talend ADR †	23,551		921,080	Market Government
Teradyne	75,038		5,116,841	Portfolio - Class I
Tyler Technologies †	16,433		4,930,229	(seven-day effective yield
Universal Display	6,800		1,401,276	1.49%)	2,254,639			2,254,639
Verra Mobility †	133,662		1,869,931	GS Financial Square
				Government
Viavi Solutions †	283,534		4,253,010	Fund - Institutional Shares
WEX †	15,050		3,152,373	(seven-day effective yield
Zebra Technologies Class A †	15,030		3,839,263	1.51%)	2,254,639			2,254,639
Zendesk †	29,976		2,297,061	Morgan Stanley Government
Zuora Class A †	123,286		1,766,688	Portfolio - Institutional
			156,587,300	Share Class (seven-day
Materials - 3.77%				effective yield 1.48%)	2,254,639			2,254,639
				State Street Institutional US
Boise Cascade	68,086		2,487,182	Government Money Market
Constellium †	97,515		1,306,701	Fund - Investor Class
Crown Holdings †	105,894		7,681,551	(seven-day effective yield
Element Solutions †	202,243		2,362,198	1.45%)	2,254,639			2,254,639
Orion Engineered Carbons				Total Short-Term
(Luxembourg)	99,046		1,911,588	Investments
Steel Dynamics	54,755		1,863,860	(cost $11,273,195)				11,273,195
Summit Materials Class A †	57,876		1,383,236
US Concrete †	35,980		1,498,927	Total Value of
			20,495,243	Securities - 100.13%
Real Estate - 0.41%				(cost $457,925,604)				543,680,980
QTS Realty Trust Class A	41,195		2,235,653	Liabilities Net of
			2,235,653	Receivables and Other
				Assets - (0.13%)				(718,507)
Total Common Stock				Net Assets Applicable to
(cost $444,290,113)			530,924,175	38,296,554 Shares
				Outstanding - 100.00%		$	542,962,473
Convertible Preferred Stock - 0.27%				✧ Narrow industries are utilized for compliance purposes for diversification
Draftkings				whereas broad sectors are used for financial reporting.
Series D =†	83,549		226,668	= The value of this security was determined using significant unobservable
Series D-1 =p†	100,507		272,675	inputs and is reported as a Level 3 security.
Honest=p†	15,249		193,190	pRestricted security. These investments are in securities not registered
MarkLogic=p†	83,588		791,077	under the Securities Act of 1933, as amended, and have certain
Total Convertible Preferred				restrictions on resale which may limit their liquidity. At
Stock(cost $2,362,296)			1,483,610	Dec. 31, 2019, the aggregate value of restricted securities was
				$1,256,942 which represented 0.24% of the Fund’s net assets. The
				Fund has various registration rights (exercisable under a variety of
				circumstances) with respect to these securities.
				† Non-income producing security.

(continues)NQ-OPTSG [12/19] 2/20 (1082637) 3

Schedule of investments

Optimum Small-Mid Cap Growth Fund (Unaudited)

Restricted Securities						Summary of abbreviations:
						ADR - American Depositary Receipt
Investment	Date of Acquisition		Cost		Value	CVR - Contingent Voting Rights
Draftkings Series D-1	8/18/15	$	388,676	$	272,675	GS - Goldman Sachs
Honest	8/3/15		697,718		193,190
MarkLogic	4/27/15		970,808		791,077
Total		$	2,057,202	$	1,256,942

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