Belmont
Theta
Income
Fund
Schedule
of
Investments
April
30,
2023
-
(Unaudited)
U.S.
GOVERNMENT
&
AGENCIES
(a)(b)(c)
—
87.82%
Principal
Amount
Fair
Value
United
States
Treasury
Bill,
2.03
%
,
5/18/2023
$
1,000,000
$
997,953
United
States
Treasury
Bill,
4.55
%
,
6/1/2023
1,000,000
996,325
United
States
Treasury
Bill,
3.10
%
,
8/10/2023
1,000,000
986,271
United
States
Treasury
Bill,
4.60
%
,
11/2/2023
1,250,000
1,219,488
United
States
Treasury
Bill,
4.67
%
,
11/30/2023
1,000,000
973,854
United
States
Treasury
Bill,
4.55
%
,
12/28/2023
1,000,000
970,829
United
States
Treasury
Bill,
4.53
%
,
1/25/2024
2,000,000
1,933,180
United
States
Treasury
Bill,
4.49
%
,
3/21/2024
2,000,000
1,916,791
Total
U.S.
Government
&
Agencies
(Cost $10,010,863)
9,994,691
Description
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Fair
Value
CALL
OPTIONS
PURCHASED
—
0.10%
S&P
500
Index
(c)
84
$
35,023,632
$
4,425.00
May
2023
$
11,760
PUT
OPTIONS
PURCHASED
—
0.16%
S&P
500
Index
(c)
84
35,023,632
3,550.00
May
2023
18,480
Total
Options
Purchased
(Cost
$50,861)
30,240
Total
Investments
—
88.08%
(Cost
$10,061,724)
10,024,931
Other
Assets
in
Excess
of
Liabilities — 11.91%
1,355,489
NET
ASSETS
—
100.00%
$
11,380,420
(a)
Securities
are
held
as
collateral
for
options.
(b)
The
rate
shown
represents
effective
yield
at
time
of
purchase.
(c)
Non-income
producing
security.
Belmont
Theta
Income
Fund
Schedule
of
Open
Written
Options
Contracts
April
30,
2023
-
(Unaudited)
Description
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Fair
Value
WRITTEN
CALL
OPTIONS
(1.35)%
S&P
500
Index
(a)
(84)
$
(35,023,632)
$
4,275.00
May
2023
$
(154,980)
WRITTEN
PUT
OPTIONS
(0.35)%
S&P
500
Index
(a)
(84)
(35,023,632)
3,750.00
May
2023
(39,480)
Total
Written
Options
(Premiums
Received
$172,235)
$
(194,460)
(a)
Non-income
producing
security.