Frank Value Fund (FRNKX) NPORT-P Camelot Event Driven Fund (Sep 2020 report)

Schedule of Investments
September 30, 2020 (unaudited)
Camelot Event Driven Fund
			Shares or Principal
Security Description			Amount ($)		Fair Value ($)(1)
Common Stocks - 61.42%
Automotive - 0.04%
Exide Technologies (2) (9) (13)			5,926		8,296
Bakery Products - 1.11%
Bab, Inc. (2)			479,411		239,705
Biotech & Pharma - 5.30%
Alexion Pharmaceuticals, Inc. (2) (3) (12)			10,000		1,144,300
Inyx, Inc. (2)			167,850		252
					1,144,552
Chemicals - 1.29%
DuPont de Nemours, Inc. (3)			5,000		277,400
Crude Petroleum & Natural Gas - 0.77%
Diamondback Energy, Inc. (3)			5,500		165,660
Electric & Other Services Combines - 4.00%
Evergy, Inc. (3) (12)			17,000		863,940
Gaming, Lodging & Restaurants - 0.59%
Guoco Group, Ltd. (Hong Kong) (2)			10,000		126,439
Hardware - 9.43%
IEC Electronics Corp. (2) (12)			235,316		2,035,483
Healthcare Facilities & Services - 5.15%
Acadia Healthcare Co., Inc. (2) (3) (12)			21,000		619,080
Brookdale Senior Living, Inc. (2)			50		127
Magellan Health, Inc. (2) (3)			6,500		492,570
					1,111,777
Holding Companies - 0.00%
Stoneleigh Partners Acquisition Corp. (2) (9) (11) (13)			400		0
Hotels  Motels - 6.05%
MGM Resorts International (3) (12)			60,000		1,305,000
Hotels, Rooming House, Camps & Other Lodging Places - 2.04%
Hilton Grand Vacations, Inc. (2) (3)			21,000		440,580
Investment Advice - 1.11%
KKR & Co., Inc. (3)			7,000		240,380
IT Services - 0.00%
Computer Horizons Corp. (2) (9) (11) (13)			65,000		0
Media - 6.41%
30DC, Inc. (2) (10)			50,000		445
Axel Springer SE (Germany) (2)			7,000		528,838
Clear Channel Outdoor Holdings, Inc. (2)			11,249		11,249
ViacomCBS, Inc. Class B (3)			30,062		842,037
					1,382,569
Medical Equipment & Devices - 3.16%
Shockwave Medical, Inc. (2) (12)			9,000		682,200
Metals & Mining - 0.00%
Sacre-Coeur Minerals, Ltd. (Canada) (2) (9) (11) (13)			109,444		0
National Commercial Banks - 0.40%
Citigroup, Inc. (3)			2,000		86,220
Oil, Gas & Coal - 1.34%
Chevron Corp. (3) (12)			4,000		288,000
Dommo Energia SA ADR (2) (7)			551		1,054
Seadrill, Ltd. (United Kingdom) (2)			2,152		448
					289,502
Passenger Transportation - 0.31%
Transat AT, Inc. (Canada) (2)			23,000		67,858
Petroleum Refining - 4.43%
Hess Corp. (3)			6,500		266,045
Marathon Petroleum Corp. (3) (12)			23,500		689,490
					955,535
Radio Broadcasting Stations - 0.17%
iHeartMedia, Inc. (2)			4,610		37,433
Real Estate - 2.27%
CA Immobilien Anlagen AG (Austria)			16,500		489,364
Conwert Immobilien Invest SE (Austria) (2) (9) (13)			45,000		0
					489,364
Retail-Eating Places - 0.80%
Restaurant Brands International, Inc. (Canada) (3)			3,000		172,530
Security Brokers, Dealers & Flotation Companies - 0.47%
Goldman Sachs Group Inc. (3)			500		100,485
Services-Miscellaneous Amusement & Recreation - 0.94%
Six Flags Entertainment Corp. (2) (3)			10,000		203,000
Software - 3.39%
Playtech, Plc. (Isle of Man) (2)			64,000		299,965
VMWare, Inc. Class A (2) (3)			3,000		431,010
					730,975
Telecom - 0.45%
NII Holdings, Inc. (2) (9)			44,529		96,628
Waste & Environmental Services & Equipment - 0.02%
Strategic Environmental & Energy Resources, Inc. (2) (9) (10) (13)			43,000		3,363
Total Common Stock			(Cost $              15,313,941)		13,256,874
Escrow Shares - 0.01%
Exide Technologies (9) (11) (13)			1,777		1,777
Petrocorp., Inc. (9) (11) (13)			200		0
Total Escrow Shares			(Cost $                       1,687)		1,777
Asset-Backed Securities - 0.67%
AFC Home Equity Loan Trust Series 2000-02 Class 1A, 2.582% (1 Month LIBOR USD + 0.79%), 6/25/2030 (4) (5) (7)			4,901		4,587
Citigroup Mortgage Loan Trust Inc. Series 2005-OPT1 Class M3, 2.497% (1 Month LIBOR USD + 0.71%), 2/25/2035 (4) (5) (7)			120,195		110,915
Countrywide Asset-Backed Certificates Series 2007-11 Class 2M2, 2.112% (1 Month LIBOR USD + 0.32%), 6/25/2047 (4) (5) (7)			649,319		23,725
Countrywide Home Equity Loan Trust Series 2005-A Class 2A, 1.97975% (1 Month LIBOR USD + 0.24%), 4/15/2035  (4) (5) (7)			5,998		5,834
Countrywide Alternative Loan Series 07-0A7 Class A3, 0.5017% (1 Month LIBOR USD + 0.30%) 5/25/2047 (4) (5) (9) (13)			960,000		0
Total Asset-Backed Securities			(Cost $                   135,415)		145,061
Rights - 0.00%
Corium International, Inc.  Exp. 3/31/2019 0.50/share (3)			11,249		0
Seadrill Ltd.			155,336		0
Total Rights			(Cost $                              0)		0
Convertible Bonds - 0.04%
Radio Telephone Communications - 0.04%
Digicel Group 0.5 Ltd. Private Placement Series 144A Conv. 7.0%, 12/03/2099 (7) (10)			76,581		9,190
Total Convertible Bonds			(Cost $                      1,841)		9,190
Corporate Bonds - 6.08%
Automotive - 2.08%
Exide Technologies 11.000%, 04/30/2022 (4) (9) (10) (11)			546,810		448,384
Exide Technologies 7.250%, 04/30/2027 (4) (7) (10) (11)			101,663		0
					448,384
Communication Services - 1.65%
Intelsat Jackson Holdings SA (Luxembourg) 8.125%, 06/01/2023 (4) (7)			1,000,000		42,500
Intelsat Jackson Holdings SA (Luxembourg) 5.500%, 08/01/2023 (4) (7)			500,000		313,750
					356,250
Engineering & Construction Services - 0.47%
Astaldi SpA ADR 7.125%, 12/01/2020 (4) (7) (10)			1,000,000		100,994
Financial Services - 0.04%
Hellas Telecommunication Luxembourg II SCA, (United Kingdom) 6.054%, (3 Month LIBOR USD + 5.75% ) 01/15/2015(4) (9) (10) (11) (13)			5,000,000		6,250
Lehman Brothers Holdings, Inc., 0.000%, 02/17/2015 (4) (7)			110,000		1,320
Lehman Brothers Holdings, Inc., 5.500%, 02/27/2020 (4) (7)			100,000		1,000
					8,570
Oil, Gas & Coal - 0.23%
OGX Austria GMBH 8.500%, 06/01/2018 (4) (9) (11) (13)			3,500,000		35
Seadrill New Finance Private Placement Series 144A (United Kingdom) 12.000%, 07/15/2025 (7) (10)			123,849		49,539
					49,574
Radio Telephone Communications - 0.08%
Digicel Group 0.5 Ltd., 8.000%, 04/01/2025 (7) (10)			51,222		18,020
Retail - 0.68%
The Neiman Marcus Group, LLC., 7.125%, 06/01/2028 (4) (7)			801,845		147,670
Sovereign - 0.85%
Lebanese Republic Series GMTN (Lebanon) 6.150%, 06/19/2020 (4) (7)			1,000,000		183,750
Venture Capital - 0.00%
Infinity Capital Group, 7.000%, 12/31/2049 (4) (9) (10) (11) (13)			25,000		0
Total Corporate Bonds			(Cost $                3,320,402)		1,313,212
Mortgate-Backed Securities - 0.13%
GNR Government National Mortgage Series 2019-108 Class NI, 4.000%, 08/20/2049 (7) (8)			492,150		14,870
GSR Mortgage Loan Trust Series 2005-5F Class B2, 5.73101%, 06/25/2035 (7) (8)			533,865		12,113
Total Mortgage-Backed Securities			(Cost $                   597,819)		26,983
Municipal Bonds - 4.22%
Puerto Rico - 4.22%
Puerto Rico Electric Power Authority Series CCC 4.250%, 07/01/2021 (2) (4) (7)			10,000		7,025
Puerto Rico Electric Power Authority Series CCC 4.250%, 07/01/2023 (2) (4) (7)			10,000		6,538
Puerto Rico Electric Power Authority Series CCC 4.500%, 07/01/2023 (2) (4) (7)			30,000		21,150
Puerto Rico Electric Power Authority Series CCC 4.800%, 07/01/2027 (2) (4) (7)			25,000		17,625
Puerto Rico Electric Power Authority Series CCC 4.800%, 07/01/2028 (2) (4) (7)			250,000		176,250
Puerto Rico Electric Power Authority Series DDD 3.500%, 07/01/2020 (2) (4) (7)			75,000		51,656
Puerto Rico Electric Power Authority Series DDD 3.625%, 07/01/2021 (2) (4) (7)			30,000		20,663
Puerto Rico Electric Power Authority Series TT 5.000%, 07/01/2020 (2) (4) (7)			55,000		39,050
Puerto Rico Electric Power Authority Series TT 5.000%, 07/01/2023 (2) (4) (7)			15,000		10,650
Puerto Rico Electric Power Authority Series TT 5.000%, 07/01/2024 (2) (4) (7)			10,000		7,100
Puerto Rico Electric Power Authority Series TT 5.000%, 07/01/2025 (2) (4) (7)			25,000		17,750
Puerto Rico Electric Power Authority Series WW 5.500%, 07/01/2019 (2) (4) (7)			15,000		10,631
Puerto Rico Electric Power Authority Series ZZ 4.750%, 07/01/2027 (2) (4) (7)			75,000		52,875
Puerto Rico Public Buildings Authority Series U 5.000%, 07/01/2018 (2) (4) (7)			50,000		34,875
Puerto Rico Public Buildings Authority Series C 5.750%, 07/01/2019 (2) (4) (7)			40,000		32,000
Puerto Rico Public Buildings Authority Series D 5.250%, 07/01/2036 (2) (4) (7)			50,000		39,188
Puerto Rico Public Buildings Authority Series N 5.500%, 07/01/2027 (2) (4) (7)			55,000		44,206
Puerto Rico Public Buildings Authority Series N 5.000%, 07/01/2037 (2) (4) (7)			410,000		322,362
Total Municipal Bonds			(Cost $                    713,137)		911,594
Preferred Stocks - 5.12%
Government Agencies - 4.98%
Federal Home Loan Mortgage Corp. Series B, 0.000%, Perpetual (2) (6)			19,000		242,250
Federal Home Loan Mortgage Corp. Series F, 0.000%, Perpetual (2) (6)			4,500		60,300
Federal Home Loan Mortgage Corp. Series M, 0.000%, Perpetual (2) (6)			9,500		119,938
Federal Home Loan Mortgage Corp. Series Q, 0.000%, Perpetual (2) (6)			1,000		12,500
Federal Home Loan Mortgage Corp. Series S, 0.000%, (3 Month LIBOR USD + 0.50%) Perpetual (2) (6)			25,000		327,500
Federal Home Loan Mortgage Corp. Series V, 5.570%, Perpetual (2) (6)			8,300		58,515
Federal Home Loan Mortgage Corp. Series W, 5.660%, Perpetual (2) (6)			2,674		18,718
Federal Home Loan Mortgage Corp. Series X ,6.020%, Perpetual (2) (6)			10,000		85,900
Federal National Mortgage Corp. Series H, 5.810%, Perpetual (2) (6)			5,500		75,350
Federal National Mortgage Corp. Series I, 5.375%, Perpetual (2) (6)			700		9,520
Federal National Mortgage Corp. Series M, 4.75%, Perpetual (2) (6)			4,440		60,384
Federal National Mortgage Corp. Series N, 5.500%, Perpetual (2) (6)			360		4,770
					1,075,645
Insurance - 0.14%
MBIA Insurance Corp. 4.707%, Perpetual (2) (9) (10) (11) (13)			10		30,000
Total Preferred Stocks			(Cost $                1,445,914)		1,105,645
Structured Note - 3.62%
Financial Services - 3.62%
Lehman Brothers Holdings, Inc., 0.000%, (1 Month CPI YOY + 2.25%) 07/08/2014 (2) (4) (5) (7)			130,000		1,300
Lehman Brothers Holdings, Inc., 7.000%, 1/28/2020 (2) (4) (5) (7)			100,000		1,000
Lehman Brothers Holdings, Inc., 8.250%, 9/23/2020 (2) (4) (5) (7)			100,000		1,000
Lehman Brothers Holdings, Inc., 0.000%, 2/14/2023 (2) (4) (5) (7)			200,000		2,000
Twin Reefs Pass-Through Trust, 0.000%, (1 Month LIBOR USD + 2.00%) Perpetual (2) (4) (9) (10) (11) (13)			1,000,000		775,000
Total Structured Note			(Cost $                   485,000)		780,300
Warrants - 0.08%
Insurance - 0.08%
FGL Holdings (Bermuda) Exp. 12/2022 (Notional Value $55,860)			5,700		17,100
Total Warrants			(Cost $                       9,132)		17,100
Bank Deposit Accounts - 4.13% (2)
Collateral Huntington Conservative Deposit Account 0.020% (5)			83,905		83,905
Huntington Conservative Deposit Account, 0.020% (5)			807,821		807,821
Total Bank Deposit Accounts			(Cost $                  1,949,78)		891,726
Total Investments - 108.62%			(Cost $              22,916,015)		23,442,765
Liabilities in Excess of Other Assets - (8.62%)					(1,859,419)
Total Net Assets - 100.00%					21,583,346
Options
	Long (Short)		Notional Value of		Fair
	Contracts	Expiration Date	Contracts ($)		Value ($)
Call Options
Acadia Healthcare Co., Inc., Strike $22.50	210	12/18/2020	472,500		171,150
Evergy, Inc., Strike $55.00	170	12/18/2020	935,000		22,100
Evergy, Inc., Strike $70.00	170	12/18/2020	1,190,000		0
Magellan Health, Inc., Strike $55.00	65	12/18/2020	357,500		139,750
Alexion Pharmaceuticals, Inc., Strike $90.00	100	1/15/2021	900,000		269,000
The Bank of New York Mellon Corp., Strike $30.00	250	1/15/2021	750,000		136,250
The Bank of New York Mellon Corp., Strike $40.00	250	1/15/2021	1,000,000		17,500
Dell Technologies, Inc., Strike $40.00	145	1/15/2021	580,000		401,650
The Goldman Sachs Group, Inc., Strike $170.00	5	1/15/2021	85,000		18,238
Hilton Grand Vacations, Inc., Strike $20.00	210	1/15/2021	420,000		62,475
Qualcomm, Inc., Strike $70.00	40	1/15/2021	280,000		196,080
Qep Resources, Inc., Strike $ 8.00	120	1/15/2021	96,000		12,000
Red Robin Gourmet Burgers, Inc., Strike $12.50	200	1/15/2021	250,000		68,800
Molson Coors Beverages Co.. Strike $20.00	60	1/15/2021	120,000		82,800
Molson Coors Beverages Co.. Strike $45.00	60	1/15/2021	270,000		1,200
Citigroup, Inc., Strike $50.00	20	6/18/2021	100,000		5,880
Restaurant Brands International, Inc., Strike $40.00	30	6/18/2021	120,000		55,050
ViacomCBS, Inc., Strike $10.00	300	6/18/2021	300,000		541,500
ViacomCBS, Inc., Strike $27.00	100	6/18/2021	270,000		50,000
Alerian MLP ETF, Strike $8.00	600	1/21/2022	480,000		4,500
BP Plc., Strike $20.00	300	1/21/2022	600,000		53,100
Anheuser-Busch InBev SA.NV, Strike $65.00	50	1/21/2022	325,000		22,125
Chevron Corp., Strike $120.00	20	1/21/2022	240,000		1,660
Chevron Corp., Strike $90.00	40	1/21/2022	360,000		15,600
DuPont de Nemours, Inc., Strike $40.00	50	1/21/2022	200,000		89,500
Energy Transfer LP., Strike $10.00	250	1/21/2022	250,000		8,250
Energy Transfer LP., Strike $12.00	300	1/21/2022	360,000		5,700
Diamondback Energy, Inc., Strike $30.00	55	1/21/2022	165,000		48,400
Hess Corp., Strike $40.00	65	1/21/2022	260,000		63,050
Johnson & Johnson, Strike $155.00	40	1/21/2022	620,000		44,400
Johnson & Johnson, Strike $195.00	40	1/21/2022	780,000		7,720
KKR & Co., Inc., Strike $25.00	70	1/21/2022	175,000		76,650
MGM Resorts International, Strike $20.00	600	1/21/2022	1,200,000		414,000
Marathon Petroleum Corp., Strike $30.00	235	1/21/2022	705,000		123,375
Occidental Petroleum Corp., Strike $15.00	300	1/21/2022	450,000		51,000
Occidental Petroleum Corp., Strike $40.00	125	1/21/2022	500,000		1,750
Phillips 66, Strike $100.00	100	1/21/2022	1,000,000		9,250
Red Robin Gourmet Burgers, Inc., Strike $12.50	145	1/21/2022	181,250		82,650
Six Flags Entertainment Corp., Strike $17.50	100	1/21/2022	175,000		77,000
Twitter, Inc., Strike $15.00	250	1/21/2022	375,000		758,750
Twitter, Inc., Strike $30.00	250	1/21/2022	750,000		455,000
United States Oil Fund LP, Strike $4.50	350	1/21/2022	157,500		8,050
VMware, Inc., Strike $130.00	30	1/21/2022	390,000		86,400
Energy Select Sector SPDR Fund ETF, Strike $40.00	885	1/21/2022	3,540,000		163,725
Energy Select Sector SPDR Fund ETF, Strike $60.00	250	1/21/2022	1,500,000		7,500
SPDR S&P Oil & Gas Exploration & Production ETF, Strike $10.00	100	1/21/2022	100,000		23,900
SPDR S&P Oil & Gas Exploration & Production ETF, Strike $15.00	250	1/21/2022	375,000		22,375
	8355		24,709,750		4,976,803
Put Options
Invesco CurrencyShares Euro Currency Trust, Strike $108.00	100	12/18/2020	1,080,000		6,500
	100		1,080,000		6,500
Call Options Written
Acadia Healthcare Co., Inc., Strike $30.00	(420)	12/18/2020	(1,260,000)		(111,300)
Alexion Pharmaceuticals, Inc., Strike $115.00	(200)	1/15/2021	(2,300,000)		(193,000)
The Bank of New York Mellon Corp., Strike $50.00	(500)	1/15/2021	(2,500,000)		(2,500)
Citigroup, Inc., Strike $80.00	(40)	6/18/2021	(320,000)		(1,440)
DuPont de Nemours, Inc., Strike $75.00	(100)	1/21/2022	(750,000)		(26,600)
Dell Technologies, Inc., Strike $47.50	(145)	1/15/2021	(688,750)		(297,975)
Energy, Inc., Strike $65.00	(340)	12/18/2020	(2,210,000)		(17,000)
Energy, Inc., Strike $80.00	(340)	12/18/2020	(2,720,000)		(340)
Diamondback Energy, Inc., Strike $70.00	(110)	1/21/2022	(770,000)		(22,550)
The Goldman Sachs Group, Inc., Strike $220.00	(10)	1/15/2021	(220,000)		(8,300)
Hess Corp., Strike $70.00	(130)	1/21/2022	(910,000)		(26,390)
Hilton Grand Vacations, Inc., Strike $25.00	(420)	1/15/2021	(1,050,000)		(45,150)
Invesco CurrencyShares Euro Trust, Strike $108.00	(100)	12/18/2020	(1,080,000)		(29,750)
Johnson & Johnson, Strike $175.00	(80)	1/21/2022	(1,400,000)		(40,000)
KKR & Co., Inc., Strike $37.00	(140)	1/21/2022	(518,000)		(64,400)
Magellan Health, Inc., Strike $75.00	(130)	12/18/2020	(975,000)		(90,350)
MGM Resorts International, Strike $35.00	(1,200)	1/21/2022	(4,200,000)		(267,600)
Marathon Petroleum Corp., Strike $65.00	(470)	1/21/2022	(3,055,000)		(14,100)
Qualcomm, Inc., Strike $87.50	(40)	1/15/2021	(350,000)		(130,960)
Restaurant Brands International, Inc., Strike $60.00	(60)	6/18/2021	(360,000)		(30,960)
Red Robin Gourmet Burgers, Inc., Strike $22.50	(255)	1/15/2021	(573,750)		(17,850)
Red Robin Gourmet Burgers, Inc., Strike $25.00	(90)	1/21/2022	(225,000)		(25,650)
Six Flags Entertainment Corp., Strike $32.50	(200)	1/21/2022	(650,000)		(57,000)
Molson Coors Beverage Co., Strike $57.50	(120)	1/15/2021	(690,000)		(2,400)
Twitter, Inc., Strike $55.00	(500)	1/21/2022	(2,750,000)		(347,500)
ViacomCBS, Inc., Strike $30.00	(100)	12/18/2020	(300,000)		(19,600)
ViacomCBS, Inc., Strike $35.00	(600)	6/18/2021	(2,100,000)		(129,000)
VMware, Inc., Strike $190.00	(60)	1/21/2022	(1,140,000)		(43,800)
	(6,900)		(36,065,500)		(2,063,465)
Total Options			(Cost $                2,358,989)		2,919,838
(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)
The following is a summary of the inputs used as of September 30, 2019 in valuing the Fund's assets carried at fair value:
			Investments in		Other Financial
Valuation Inputs			Securities		Instruments
Level 1 - Quoted Prices		$	20,660,319	$	-
Level 2 - Other Significant Observable Inputs			1,957,725		-
Level 3 - Significant Unobservable Inputs			824,721		-
Total		$	23,442,765	$	-
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.
ADR - American Depositary Receipt.
(2)  Represents non-income producing securities.
(3)  Subject to written option contracts.
(4)  Default Bonds
(5)  Investment in affiliate. The yield shown represents the 7-day yield in effect at September 30, 2020.
(6)  Distressed Securities.
(7)  Level 2 Security.
(8)  Variable Rate Security. The coupon is based on an underlying pool of loans.
(9)  Indicates a fair valued security. Total market value for fair valued securities is $907,593 representing 2.67% of net assets and Level 3 securities.
(10) Denotes a restricted security that may be sold without restriction to "qualified institutional buyers" as defined in Rule 144A under the Securities Act of 1933, as amended, is $1,904,405 representing 5.59% of net assets.
(11) Indicates an illiquid security. Total market value for illiquid securities is $1,346,446 representing 3.95% of net assets.
(12) Principal denominated in Euros.
(13) Level 3 security.