Prospector Opportunity Fund (POPFX) NPORT-P Prospector Opportunity Fund (Sep 2020 report)

Schedule of Investments September 30, 2020 (unaudited)
Prospector Opportunity Fund
Description	Shares		Value
COMMON STOCKS - 92.3%
Banks - 10.4%
Bank of N.T. Butterfield & Son		75,100	$	1,673,228
Central Valley Community Bancorp		40,800		503,880
Citigroup		25,270		1,089,390
Comerica		71,550		2,736,787
HarborOne Bancorp		195,744		1,579,654
Kearny Financial		179,226		1,292,219
KeyCorp		192,750		2,299,507
PCSB Financial		77,722		938,105
PNC Financial Services Group		17,510		1,924,524
QCR Holdings		56,850		1,558,259
US Bancorp		44,700		1,602,495
Waterstone Financial		163,450		2,531,841
				19,729,889
Consumer Discretionary - 5.9%
Darden Restaurants		31,150		3,138,051
eBay		55,350		2,883,735
Home Depot		10,400		2,888,184
Noodles & Company *		349,212		2,399,086
				11,309,056
Consumer Staples - 10.4%
Church & Dwight		41,500		3,888,965
Colgate-Palmolive		31,600		2,437,940
JM Smucker		35,550		4,106,736
Mondelez International, Class A		64,700		3,717,015
Nestle		10,200		1,210,866
Procter & Gamble		16,900		2,348,931
Swedish Match		14,100		1,153,713
Tootsie Roll Industries		31,082		960,434
				19,824,600
Diversified Financial Services - 2.4%
CBOE Global Markets		17,500		1,535,450
Federated Hermes, Class B		97,850		2,104,753
Invesco		23,100		263,571
Jefferies Financial Group		31,550		567,900
				4,471,674
Energy - 2.8%
Devon Energy		93,750		886,875
Hess		33,500		1,371,155
Parsley Energy		103,250		966,420
Schlumberger		74,100		1,152,996
Suncor Energy		73,100		894,013
				5,271,459

Healthcare - 6.5%
AstraZeneca - ADR	17,800	975,440
Haemonetics *	23,940	2,088,765
Johnson & Johnson	18,300	2,724,504
Medtronic	32,600	3,387,792
Merck & Co.	39,048	3,239,032
		12,415,533
Industrials - 11.7%
CIRCOR International *	20,850	570,247
Curtiss-Wright	44,950	4,192,037
General Dynamics	10,200	1,411,986
Landstar System	13,600	1,706,664
Moog	23,800	1,512,014
Otis Worldwide	35,750	2,231,515
Pentair	65,050	2,977,339
Regal Beloit	26,200	2,459,394
Robert Half International	53,650	2,840,231
Vectrus *	63,750	2,422,500
		22,323,927
Information Technology - 11.2%
FARO Technologies *	51,900	3,164,862
FLIR Systems	107,700	3,861,045
Leidos Holdings	25,850	2,304,528
Littelfuse	31,330	5,556,062
Microsoft	7,200	1,514,376
Paychex	42,500	3,390,225
Xilinx	14,100	1,469,784
		21,260,882
Insurance Brokers - 6.4%
Arthur J. Gallagher & Co.	51,400	5,426,812
Brown & Brown	116,100	5,255,847
Marsh & McLennan	13,100	1,502,570
		12,185,229
Life & Health Insurance - 6.7%
Aflac	80,000	2,908,000
Globe Life	62,750	5,013,725
Primerica	15,900	1,798,926
Voya Financial	62,250	2,983,642
		12,704,293
Materials - 3.5%
Axalta Coating Systems *	31,600	700,572
Domtar	31,100	816,997
Kinross Gold *	59,800	527,436
Newmont Goldcorp	30,100	1,909,845
PPG Industries	18,450	2,252,376
Victoria Gold *	45,186	506,083
		6,713,309
Property & Casualty Insurance - 8.0%
Hanover Insurance Group	39,550	3,685,269
Kemper	30,800	2,058,364
Lancashire Holdings	270,700	2,417,151

Mercury General	85,000		3,516,450
Selective Insurance Group	67,200		3,460,128
			15,137,362
Real Estate - 1.0%
Howard Hughes *	34,000		1,958,400
Reinsurance - 5.4%
Alleghany	7,619		3,965,309
Everest Re Group	4,350		859,299
RenaissanceRe Holdings	32,200		5,465,628
			10,290,236
Total Common Stocks
(Cost $159,232,145)			175,595,849
EXCHANGE TRADED FUND - 1.2%
Aberdeen Standard Physical Platinum Shares Fund *
(Cost $2,373,508)	27,800		2,334,922
SHORT-TERM INVESTMENT - 6.9%
First American Treasury Obligations Fund, 0.056%^
(Cost $13,156,096)	13,156,096		13,156,096
Total Investments - 100.4%
(Cost $174,761,749)			191,086,867
Other Assets and Liabilities, Net - (0.4)%			(702,497	)
Total Net Assets - 100.0%		$	190,384,370

*	Non-income producing security
^	The rate shown is the seven-day yield effective September 30, 2020.

Summary of Fair Value Exposure

The Fund has adopted fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value.  These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion in changes in valuation techniques and related inputs during the period and expanded disclosure of valuation levels for major security types.  These inputs are summarized in the three broad levels listed below:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 – Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.  These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 – Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

As of September 30, 2020, the Fund's investments in securities were classified as follows:      

	Level 1		Level 2		Level 3		Total
Common Stocks	$	175,595,849	$	-	$	-	$	175,595,849
Short-Term Investment		13,156,096						13,156,096
Exchange Traded Fund		2,334,922		-		-		2,334,922
Total Investments	$	191,086,867	$	-	$	-	$	191,086,867

Refer to each Fund's Schedule of Investments for further sector breakout.