Schedule of Investments | |||||||
March 31, 2020 (unaudited) | |||||||
Leigh Baldwin 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 - 41.82% | |||||||
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Beverages - 0.97% |
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The Coca-Cola Co. (3) (5) |
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| 500 |
| 22,125 | |
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Construction Machinery & Equipment - 3.07% |
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Caterpillar, Inc. |
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| 600 |
| 69,624 | |
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Electromedical & Electrotherapeutic Apparatus - 3.18% |
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Medtronic, Plc. |
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| 800 |
| 72,144 | |
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Farm Machinery & Equipment - 3.65% |
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Deere & Co. |
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| 600 |
| 82,896 |
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National Commercial Banks - 3.96% |
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JPMorgan Chase & Co. |
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| 1,000 |
| 90,030 | |
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Petroleum Refining - 2.55% |
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Chevron Corp. (2) |
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| 800 |
| 57,968 | |
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Pharmaceutical Preparations - 5.77% |
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Johnson & Johnson |
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| 1,000 |
| 131,130 | |
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Retail-Department Stores - 0.02% |
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Macy's, Inc. |
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| 100 |
| 491 |
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Retail-Drug Stores & Propritary Stores - 2.01% |
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Walgreens Boots Alliance, Inc. |
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| 1,000 |
| 45,750 | ||
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Rubber & Plastic Footwear - 3.64% |
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Nike, Inc. |
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| 1,000 |
| 82,740 |
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Services-Business Services, Nec - 6.26% |
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Alibaba Group Holdings Ltd. (2) |
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| 400 |
| 77,792 | ||
Visa, Inc. (2) |
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| 400 |
| 64,448 |
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| 142,240 |
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Services-Prepackaged Software - 0.69% |
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Microsoft Corp. (2) |
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| 100 |
| 15,771 | |
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Soap, Detergents, Cleaning Products Preparations, Perfumes, Cosmetics - 2.42% |
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The Proctor & Gamble Co. |
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| 500 |
| 55,000 | |
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Surgical & Medical Instruments - 3.61% |
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3M Co. |
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| 600 |
| 81,906 |
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Total Common Stock |
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| (Cost $ 1,139,979) |
| 949,815 | |
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Registered Investment Companies - 6.49% (4) | |||||||
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SPDR Dow Jones Industrial Average ETF Trust | 200 |
| 43,846 | ||||
SPDR Gold Shares ETF (2) | 700 |
| 103,635 | ||||
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Total Registered Investment Companies |
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| (Cost $ 153,993) |
| 147,481 | ||
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Money Market Registered Investment Companies - 44.03% | |||||||
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Fidelity Institutional Government Money Market Fund-Class I, 0.27% (5) | 1,000,097 |
| 1,000,097 | ||||
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Total Money Market Registered Investment Companies |
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| (Cost $ 1,000,097) |
| 1,000,097 | ||
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Total Investments - 92.34% |
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| (Cost $ 120,000) |
| 2,097,393 | ||
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Other Assets less Liabilities - 7.66% |
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| 173,909 | ||
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Total Net Assets - 100.00% |
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| 2,271,302 | ||
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Options | |||||||
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| Long (Short) |
| Notional Value of |
| Fair |
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| Contracts | Expiration Date | Contracts ($) |
| Value ($) |
Call Options |
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SPDR Dow Jones Industrial Average ETF Trust, Strike $255.00 | 8 | 4/3/2020 | 8,000 |
| 64 | ||
Visa, Inc., Strike $185.00 | 4 | 4/3/2020 | 64,448 |
| 16 | ||
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| 12 |
| 72,448 |
| 80 |
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Put Options |
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SPDR Dow Jones Industrial Average ETF Trust, Strike $210.00 | 4 | 4/1/2020 | 4,000 |
| 4,320 | ||
Alibaba Group Holding Ltd., Strike $190.00 | 4 | 4/3/2020 | 77,792 |
| 776 | ||
The Coca-Cola Co., Strike $40.00 | 10 | 4/9/2020 | 44,250 |
| 350 | ||
JPMorgan Chase & Co., Strike $140.00 | 7 | 4/17/2020 | 7,000 |
| 35,581 | ||
Walgreens Boots Alliance, Inc., Strike $50.00 | 10 | 4/17/2020 | 45,750 |
| 4,760 | ||
Microsoft Corp., Strike $125.00 | 4 | 4/24/2020 | 63,084 |
| 520 | ||
JPMorgan Chase & Co., Strike $82.00 | 6 | 5/1/2020 | 6,000 |
| 2,100 | ||
Medtronic, Plc., Strike $120.00 | 8 | 5/15/2020 | 72,144 |
| 21,680 | ||
Caterpillar, Inc., Strike $130.00 | 6 | 6/19/2020 | 6,000 |
| 10,620 | ||
Chevron Corp., Strike $120.00 | 8 | 6/19/2020 | 57,968 |
| 37,920 | ||
Deere & Co., Strike $185.00 | 6 | 6/19/2020 | 82,896 |
| 27,870 | ||
Johnson & Johnson, Strike $145.00 | 10 | 6/19/2020 | 131,130 |
| 17,500 | ||
Nike, Inc., Strike $110.00 |
| 10 | 6/19/2020 | 82,740 |
| 25,300 | |
SPDR Gold Shares ETF, Strike $155.00 | 7 | 6/19/2020 | 103,635 |
| 7,490 | ||
The Proctor & Gamble Co., Strike $120.00 | 5 | 6/19/2020 | 5,000 |
| 7,025 | ||
Visa, Inc., Strike $200.00 |
| 4 | 6/19/2020 | 64,448 |
| 16,440 | |
3M Co., Strike $175.00 |
| 6 | 7/17/2020 | 81,906 |
| 22,740 | |
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| 115 |
| 935,743 |
| 242,992 | ||
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Call Options Written |
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Alibaba Group Holding Ltd., Strike $185.00 | 2 | 4/3/2020 | 38,896 |
| (1,800) | ||
Alibaba Group Holding Ltd., Strike $190.00 | 2 | 4/3/2020 | 38,896 |
| (1,220) | ||
SPDR Dow Jones Industrial Average ETF Trust, Strike $156.00 | 2 | 4/3/2020 | 2,000 |
| (540) | ||
Johnson & Johnson, Strike $145.00 | 5 | 4/17/2020 | 65,565 |
| (395) | ||
Johnson & Johnson, Strike $145.00 | 5 | 5/15/2020 | 65,565 |
| (1,100) | ||
JPMorgan Chase & Co., Strike $93.00 | 3 | 4/9/2020 | 3,000 |
| (585) | ||
The Coca-Cola Co., Strike $45.00 | 5 | 4/3/2020 | 22,125 |
| (295) | ||
Microsoft Corp., Strike $152.50 | 1 | 4/3/2020 | 15,771 |
| (725) | ||
The Proctor & Gamble Co., Strike $120.00 | 5 | 4/17/2020 | 5,000 |
| (645) | ||
SPDR Gold Shares ETF, Strike $156.00 | 7 | 4/3/2020 | 103,635 |
| (147) | ||
Visa, Inc., Strike $182.50 | 4 | 4/3/2020 | 64,448 |
| (28) | ||
Walgreens Boots Alliance, Inc., Strike $50.00 | 10 | 4/17/2020 | 45,750 |
| (920) | ||
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| 51 |
| 470,651 |
| (8,400) | ||
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Total Options |
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| (Cost $ 94,960) |
| 234,672 | ||
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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 September 30, 2019 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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| $ | 2,097,393 | $ | - | |
Level 2 - Other Significant Observable Inputs |
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| - |
| - | ||
Level 3 - Significant Unobservable Inputs |
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| - |
| - | ||
Total |
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| $ | 2,097,393 | $ | - |
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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) Subject to written option contracts. | |||||||
(4) Exchange Traded Funds. | |||||||
(5) Investment in affiliate. The yield shown represents the 7-day yield in effect at March 31, 2020. | |||||||
