| PERKINS DISCOVERY FUND |
|
| |
Schedule of Investments | June 30, 2022 (unaudited) | |||
95.21% | COMMON STOCKS | Shares |
| Fair Value |
|
|
| ||
2.06% | BIOTECHNOLOGY |
|
|
|
| Journey Medical Corp.* . . . . . . . . | 22,000 | $ | 82,280 |
| MDXHealth SA* . . . . . . . . . . . . | 11,000 |
| 91,850 |
|
|
|
| 174,130 |
6.48% | CONSUMER DISCRETIONARY |
|
|
|
| iMedia Brands, Inc.* . . . . . . . . . . | 35,700 |
| 43,197 |
| Magnite, Inc.* . . . . . . . . . . . . . | 20,000 |
| 177,600 |
| Perion Network Ltd.* . . . . . . . . . . | 18,000 |
| 327,240 |
|
|
|
| 548,037 |
1.00% | FINANCIALS |
|
|
|
| FlexShopper, Inc.* . . . . . . . . . . . | 93,500 |
| 84,122 |
16.87% | HEALTH CARE DRUGS/SERVICES |
|
|
|
| ANI Pharmaceuticals, Inc.* . . . . . . . | 8,000 |
| 237,360 |
| NeoGenomics, Inc.* . . . . . . . . . . | 22,000 |
| 179,300 |
| Paratek Pharmaceuticals, Inc.* . . . . . | 36,000 |
| 69,480 |
| Sharps Compliance Corp.* . . . . . . . | 25,000 |
| 73,000 |
| Veracyte, Inc.* . . . . . . . . . . . . | 21,500 |
| 427,850 |
| Vericel Corp.* . . . . . . . . . . . . . | 17,500 |
| 440,650 |
|
|
|
| 1,427,640 |
5.31% | HEALTH CARE MANUFACTURING |
|
|
|
| AtriCure, Inc.* . . . . . . . . . . . . . | 11,000 |
| 449,460 |
14.18% | HEALTH CARE SUPPLIES |
|
|
|
| Axogen, Inc.* . . . . . . . . . . . . . | 32,500 |
| 266,175 |
| Biolase, Inc.* . . . . . . . . . . . . . | 12,500 |
| 57,250 |
| BioLife Solutions, Inc.* . . . . . . . . . | 16,500 |
| 227,865 |
| Cardiovascular Systems, Inc.* . . . . . . | 17,000 |
| 244,120 |
| Cryoport, Inc.* . . . . . . . . . . . . | 10,000 |
| 309,800 |
| Exagen, Inc.* . . . . . . . . . . . . . | 16,500 |
| 94,710 |
11.17% | HEALTH CARE SUPPORT |
|
| 1,199,920 |
|
|
| ||
| Natera, Inc.* . . . . . . . . . . . . . | 11,500 |
| 407,560 |
| Option Care Health, Inc.* . . . . . . . . | 18,500 |
| 514,115 |
| Rockwell Medical, Inc.* . . . . . . . . . | 18,182 |
| 23,455 |
|
|
|
| 945,130 |
| 1 |
|
|
|
QUARTERLY REPORT
| PERKINS DISCOVERY FUND |
|
|
| |
Schedule of Investments - continued | June 30, 2022 (unaudited) |
| |||
8.95% | HEALTH CARE TECHNOLOGY | Shares |
| Fair Value | |
|
|
|
| ||
| Fortress Biotech, Inc.* . . . . . . . . . | 69,500 | $ | 58,373 |
|
| IsoRay, Inc.* . . . . . . . . . . . . . | 200,000 |
| 61,800 |
|
| OptimizeRx Corp.* . . . . . . . . . . . . . . . . . . . . . | 15,000 |
| 410,850 |
|
| Streamline Health Solutions, Inc.* . . . . | 145,000 |
| 184,150 |
|
| UpHealth, Inc.* . . . . . . . . . . . . | 71,250 |
| 42,215 |
|
|
|
|
| 757,388 |
|
0.43% | INDUSTRIAL |
|
|
|
|
| Agrify Corp.* . . . . . . . . . . . . . | 18,500 |
| 36,445 |
|
18.80% | INFORMATION TECHNOLOGY |
|
|
|
|
| Airgain, Inc.* . . . . . . . . . . . . . | 15,500 |
| 125,860 |
|
| Akoustis Technologies, Inc.* . . . . . . | 30,500 |
| 112,850 |
|
| Cantaloupe, Inc.* . . . . . . . . . . . | 45,500 |
| 254,800 |
|
| Digi International, Inc.* . . . . . . . . . | 13,200 |
| 319,704 |
|
| Inuvo, Inc.* . . . . . . . . . . . . . . | 514,500 |
| 254,677 |
|
| Perficient, Inc.* . . . . . . . . . . . . | 5,700 |
| 522,633 |
|
|
|
|
| 1,590,524 |
|
9.96% | SOFTWARE SERVICES |
|
|
|
|
| Asure Software, Inc.* . . . . . . . . . | 36,000 |
| 205,200 |
|
| ePlus, Inc.* . . . . . . . . . . . . . . | 12,000 |
| 637,440 |
|
|
|
|
| 842,640 |
|
95.21% | TOTAL COMMON STOCKS . . . . . . |
|
| 8,055,436 |
|
4.94% | SHORT-TERM INVESTMENTS |
|
|
|
|
| Fidelity Investments Money Market |
|
|
|
|
| Government Portfolio |
|
|
|
|
| Institutional Class 1.21%** . . . . . . . | 417,450 |
| 417,450 |
|
100.15% | TOTAL INVESTMENTS . . . . . . . . . . . . . . . . |
| 8,472,886 |
| |
(0.15%) | Liabilities in excess of other assets . . . . . . . . . . . |
| (12,464) | ||
100.00% | NET ASSETS . . . . . . . . . . . . . . . . . . . . . | $ | 8,460,422 |
|
*Non-income producing
**Effective 7 day yield as of June 30, 2022
2
QUARTERLY REPORT
PERKINS DISCOVERY FUND
Schedule of Investments - continued | June 30, 2022 (unaudited) |
In accordance with U.S. GAAP, “fair value” is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. Various inputs are used in determining the value of a Fund’s investments. U.S. GAAP established a three-tier hierarchy of inputs to establish a classification of fair value measurements for disclosure purposes. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining fair value of investments).
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated withinvesting in those securities.
The following is a summary of the inputs used to value the Fund’s investments as of June 30, 2022:
|
| Level 1 |
|
| Level 2 |
|
| Level 3 |
|
|
|
|
|
|
| Other |
|
|
|
|
|
|
|
|
|
| Significant |
|
| Significant |
|
|
|
|
|
|
| Observable |
| Unobservable |
|
| |
Common Stocks . . . . . | Quoted Prices |
|
| Inputs |
|
| Inputs |
| Total | |
$ | 8,055,436 | $ | — | $ | — | $ | 8,055,436 | |||
Short-Term Investments . . |
| 417,450 |
|
| — |
|
| — |
| 417,450 |
Total Investments . . . . . | $ | 8,472,886 | $ | — | $ | — | $ | 8,472,886 | ||
|
|
|
|
|
|
|
|
|
|
|
The Fund held no Level 3 securities at any time during the period.
There were no transfers into or out of Levels 1 and 2 during the period ended June 30, 2022.
At June 30, 2022, the cost of investments for Federal income tax purposes has been estimated since the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income tax purpose is $7,126,763 and the related tax-based net unrealized appreciation (depreciation) consists of:
Gross unrealized appreciation . . . . . $ 3,792,899
Gross unrealized depreciation . . . . . (2,446,776)
Net unrealized appreciation . . . . . . $ 1,346,123
3
QUARTERLY REPORT