Archer Investment Series Trust NPORT-P Archer Income Fund (May 2021 report)

Schedule of Investments
May 31, 2021 (unaudited)
Archer Income Fund
		Shares or Principal
Security Description		Amount ($)		Fair Value ($)(1)
Corporate Bonds - 54.23% (5)
Accident & Health Insurnace - 0.71%
Unum Group, 4.000%, 03/15/2024		75,000		81,297
Air Transportation, Scheduled - 0.83%
American Airlines 2013-2 , 4.95%, 01/15/2023		95,003		95,954
Beverages - 0.92%
Keurig Dr. Pepper, Inc., 3.130%, 12/15/2023		100,000		106,025
Computer & Office Equipment - 0.88%
Hewlett-Packard, 4.375%, 09/15/2021		100,000		101,182
Computer Storage Devices - 0.45%
EMC Corp., 3.375%, 06/01/2023		50,000		51,565
Containers & Packaging - 0.45%
Ball Corp., 5.000%, 03/15/2022		50,000		51,635
Crude Petroleum & Natural Gas - 0.89%
Murphy Oil Corp., 6.875%, due 8/15/24		100,000		102,400
Dental Equipment & Supplies - 0.87%
DENTSPLY International, Inc., 4.125%, 08/15/2021		100,000		100,226
Distribution/Wholesale - 0.90%
Ingram Micro, Inc., 5.000%, 08/10/2022		100,000		103,171
Electric & Other Services Combined - 0.86%
PPL Energy Supply LLC., 4.600%, 12/15/2021		100,000		98,750
Electric Services - 1.35%
Southern California Edison Co. Series E, 6.250%, 3M USD LIBOR + 4.199%, 02/01/2022 (a) (b)		50,000		51,000
Southern Co., 2.950%, 07/01/2023		100,000		104,702
				155,702
Electronic & Other Electrical Equipment (No Computer Equipment) - 0.78%
General Electric Co. Series A, 4.000%, 06/15/2022 (a) (b)		100,000		89,750
Financial Services - 1.46%
General Motors Financial Company, Inc. Series C, 5.70%, 09/30/2030 (a) (b)		150,000		168,188
General Building Contractors - Residential Buildings - 0.47%
Lennar Corp., 4.875%, 12/15/2023		50,000		54,573
Healthcare Providers & Services - 0.45%
CommonSpirit Health, 2.950%, 11/01/2022		50,000		51,696
Men's & Boys' Furnishings, Work Clothing,  Allied Garments - 0.65%
Cintas Corp. No. 2, 4.300%, 06/01/2021		75,000		75,000
Miscellaneous Business Credit Institution - 0.86%
Ford Motor Credit Co. LLC., 4.200%, 02/20/2027		100,000		99,181
National Commercial Banks - 9.01%
Banc of California, Inc., 5.250%, 04/15/2025		200,000		211,265
CenterState Bank Corp., 5.75%, 06/01/2030 (a)		10,000		10,725
Citigroup, Inc. Series B, 5.900%, to 02/15/2023 (a) (b)		100,000		105,250
JPMorgan & Chase Co., Series B, 0.67563%, due 2/01/2027 (3-month US Libor + 0.500%) FRN		150,000		143,872
JPMorgan Chase & Co., Series Z, 3.97563%, due 2/01/2027 (3-month US Libor + 3.80%) (b)		150,000		150,187
Mellon Capital IV, 4.00%, to 12/31/2099 (3-month US Libor + 0.565%) (b) (4)		200,000		199,136
Old National Bancorp, 4.125%, 08/15/2024		100,000		109,221
Truist Financial Corp. Series M Perpetual, 5.125%, 12/15/2027 (b)		100,000		106,500
				1,036,156
Natural Gas Distribution - 0.49%
National Fuel Gas Co., 5.200%, 07/15/2025		50,000		56,365
Other Real Estate Investment Trusts- 0.89%
Ready Capital Corp., 5.75%, 02/15/2026		4,000		102,400
Personal Credit Institutions - 0.98%
Discover Financial Services, Series D Perpetual, 6.125%, 09/23/2165		100,000		112,470
Pharmaceutical Preparations - 0.45%
AbbVie, Inc., 2.900%, 11/06/2022		50,000		51,806
Property & Casualty Insurance - 1.49%
Finial Holdings, Inc., 7.125%, due 10/15/2023 (Switzerland)		150,000		171,658
Retail-Department Store - 0.36%
Dillard's, Inc., 7.750%, 07/15/2026		35,000		41,133
Retail-Drug Stores & Proprietary Stores - 5.03%
CVS Health Corp., 3.500%, 07/20/2022		200,000		206,256
CVS Health Corp., 2.750%, 12/01/2022		190,000		195,866
Walgreens Boots Alliance, Inc., 3.300%, 11/18/2021		175,000		176,497
				578,619
Retail-Apparel & Accessory Stores - 1.36%
Foot Locker, Inc., 8.500%, 01/15/2022		150,000		155,813
Rubber & Plastics Footwear - 1.35%
Nike, Inc., 2.250%, 05/01/2023		150,000		155,062
Security Brokers, Dealers & Flotation Companies - 2.43%
Morgan Stanley, Series MTN, 6.604%, 08/19/2028 (4)		114,000		114,000
The Charles Schwab Corp. Series G, 5.375%, to 06/01/2025 (a) (b)		150,000		165,525
				279,525
Services-Business Services - 0.71%
eBay, Inc., 2.600%, 07/15/2022		80,000		81,514
Services-Computer Programming Services - 1.05%
VeriSign, Inc., 4.625%, 05/01/2023		120,000		120,164
Services-Medical Laboratories - 0.89%
Laboratories Corp. of America Holdings, Inc., 3.200%, 02/01/2022		100,000		101,900
Services-Personal Services - 2.04%
Block Financial LLC, 5.500%, 11/01/2022		225,000		234,732
Services-Prepackaged Software - 1.89%
NortonLifelock, Inc., 3.950%, due 6/15/2022		50,000		51,000
VMWare, Inc., 3.900%, 08/21/2027		150,000		166,683
				217,683
State Commercial Banks - 7.25%
Ally Financial, Inc., Series B, 4.70% (b)		150,000		154,125
Bank of the Ozarks, 5.500%, (3M LIBOR + 3.935%), 07/01/2026 (a)		100,000		100,214
Eagle Bancorp, Inc., 5.750%, 09/01/2024		150,000		162,315
Fifth Third Bancorp Series L, 4.500%, to 09/30/2025 (a) (b)		150,000		163,313
Home Bancshares, Inc., 5.625%, (3M LIBOR + 3.207), 04/15/2027 (a)		100,000		103,030
SVB Financial Group, 4.10%, 05/15/2169 (b)		150,000		149,813
				832,810
Telephone Communications (No Radio Telephone) - 0.53%
Indiana Bell Tel Co., Inc., 7.300%, 08/15/2026		50,000		61,229
Television Broadcasting Stations - 0.54%
CBS Broadcasting, Inc., 7.125%, 11/01/2023		54,000		61,700
Wholesale-Groceries & General Line - 1.69%
Sysco Corp., 6.500%, 08/01/2028		152,000		194,053
Total Corporate Bonds		(Cost $                6,049,783)		6,233,087
Registered Investment Companies - 3.92% (3)
Invesco Variable Rate Preferred ETF		8,000		208,880
iShares US Preferred Stock ETF		1,000		38,850
JPMorgan Ultra-Short Income ETF		4,000		203,080
Total Registered Investment Companies		(Cost $                   444,956)		450,810
Municipal Bonds - 24.57% (5)
Arizona - 0.55%
City of Phoenix, AZ, 2.717%, 07/01/2022		40,000		41,096
Maricopa County School District No. 66 Roosevelt Elementary 6.243%, 07/01/2026		20,000		22,389
				63,485
California - 1.47%
Sacramento, CA Pension Oblg. Series A, 6.420%, 08/01/2023		50,000		56,285
Sacramento Cnty., CA Pension Oblg., 6.625%, 08/01/2024		95,000		112,212
				168,497
Connecicut - 0.19%
Stratford CT Taxable, 5.750%, 08/15/2030		20,000		22,348
Florida - 1.35%
North Miami Beach FL Water Revenue Series B, 2.311%, 08/01/2027		150,000		155,695
Osceola County, FL 6.020%, 10/01/2026		30,000		30,581
				186,276
Georgia - 0.49%
Georgia Local Government, 4.750%, 06/01/2028		50,000		56,155
Illinois - 1.11%
Eastern IL University Build America Bond, 5.900%, 04/01/2023		45,000		45,033
Rosemont, IL Ref Bds Series A, 5.375%, 12/1/2025		15,000		17,669
State of Illinois, 4.950%, 06/01/2023		53,182		55,025
State of Illinois, 6.200%, 07/01/2021		10,000		10,037
				127,764
Indiana - 5.19%
Beech Grove, IN Sch Bldg. Corp., 2.850%, 07/05/2025		140,000		149,834
Evansville-Vanderburgh, IN School Bldg. Corp. Series B, 5.900%, 07/15/2026		165,000		165,581
Evansville-Vanderburgh, IN School Bldg. Corp. Series B, 6.150%, 07/15/2027		100,000		100,367
Indiana St Univ Revs BAB, 5.260%, 04/01/2024		10,000		10,027
Lake Station, IN, Multi Sch Bldg. Corp., Series B, 4.000%, 07/15/2022		50,000		50,749
Merrillville, IN, Multi Sch Bldg. Corp., Series B, 3.860%, 07/15/2023		50,000		52,180
Mt. Vernon of Hancock County Multi-School Bldg. Corp., 5.280%, 07/15/2029		40,000		42,262
Warsaw Industry Redevelopment District Tax Taxable Special Taxing District Series A, 4.750%, 02/01/2026		25,000		25,255
				596,255
Maryland - 1.05%
Baltimore City Board of School Commissioners City Schools Revenue Bonds, Series 2011, 5.692%, 12/15/2025		100,000		120,262
Minnesota - 0.87%
University of Minnesota, 2.485%, 08/01/2021		100,000		100,377
Mississippi - 0.04%
Jackson, MS Mun Arpt Auth. Series C, 4.900%, 10/01/2021		5,000		5,078
Missouri - 0.17%
Kansas City, MO Taxable Gen Obl Series B, 5.050%,0 2/01/2023		20,000		20,060
New Jersey - 1.45%
City of Wildwood, NJ, 4.000%, 11/01/2021		100,000		101,024
Hudson County, NJ 6.890%, 03/01/2026		65,000		65,200
				166,224
New York - 2.90%
City of New York, NY, 1.980%, 08/01/2023		150,000		154,949
Erie County, NY Tobacco Asset Corp., 6.000%, 06/01/2028		50,000		50,059
Schenectady, NY Metroplex Development Authority Revenue Taxable Ref, 2.250%, 08/01/2023		125,000		128,319
				333,327
Ohio - 3.38%
Bloom & Carroll Ohio Loc Sch Dist, 5.800%, 12/01/2025		60,000		70,637
Avon, OH General Obligation Various Purpose Improvement Refunding Bonds, Series 2020, 0.955%, 12/01/2025		100,000		99,237
Cleveland, OH Income Tax Revenue Build America Bonds, 6.060%, 10/01/2026		25,000		27,910
JobsOhio Beverage System Statewide Senior Lien Liquor Profits Taxable Revenue Refunding Bonds, Series 2020A, 2.268%, 01/01/2028		125,000		131,237
Montgomery, OH Special Obligation Revenue Bond, 4.000%, 10/01/2027		60,000		60,000
				389,021
Oklahoma - 0.24%
Garfield County, OK, 6.000%, 09/01/2024		25,000		27,130
Oregon - 0.25%
Oregon State Sch Brds Assn Pension, Series B, 5.450%, 06/30/2024		25,000		28,754
Pennsylvania - 1.72%
East Norriton & Plymouth PA, Jt Swr Auth, 1.832%, due 8/01/28		200,000		197,276
Texas - 1.61%
Austin, TX Electric Utility System Revenue Taxable Series A, 2.524%, 11/15/2023		20,000		21,042
City of Irving, TX, 5.657%, 08/15/2023		25,000		26,365
North Texas Tollway Authority, 8.410%, 02/01/2030		50,000		66,690
Reeves Cnty., TX Cops Taxable - Lease Rentals, 6.375%, 12/01/2021		34,188		34,338
Texas St. Taxable Refunding Public Finance Authority Series C, 2.531%, 10/01/2023		35,000		36,829
				185,264
Wisconsin - 0.27%
Public Finance Authority, WI, 5.750%, 06/01/2023		30,000		30,472
Total Municipal Bonds		(Cost $                2,791,315)		2,824,025
Preferred Securities - 9.01%
Asset Management - 0.68%
B Riley Financial, Inc., 6.50%, 09/30/2026		3,000		77,640
National Commercial Banks - 6.54%
BAC Capital Trust XIII Series F, 4.000%, 03/15/2043 (b) (4)		100,000		99,540
Huntington Bancshares, Inc. Series E, 5.70%, to 04/15/2023 (a) (b)		150,000		153,281
Huntington Bancshares, Inc. Series G, 4.450%, to 10/15/2027 (a) (b)		150,000		160,316
PNC Financial Services Group, Inc., 0.7605%, due 06/01/2028 (3-month Libor + 0.57%) FRN		150,000		145,171
USB Capital IX, 3.500%, (3-month Libor + 1.02), to 04/15/2099 (b) (4)		200,000		193,870
				752,178
State Commercial Banks - 0.90%
Medallion Bank Utah Series F, 8.000%, 04/01/2025 (a) (b)		4,000		103,086
Telephone Communications (No Radio Telephone) - 0.89%
US Cellular Corp., 6.950%, 05/15/2060		4,000		102,640
Total Preferred Securities		(Cost $               1,000,909)		1,035,544
Structured Note - 2.91% (5)
		Shares		Value
National Commercial Banks - 0.83%
Key Corp. 0.9775%, due 07/01/2028 (3-month US Libor + 0.74%) FRN		100,000		94,928
Security Brokers, Dealers & Flotation Companies - 2.09%
Goldman Sachs Group, Inc., 4.88325%, 11/13/2028 (4)		120,000		118,356
Goldman Sachs Group, Inc. Series MTN, 1.89255%, 12/13/2028 (4)		100,000		95,645
Morgan Stanley, Series MTN,  8.775%, due 08/30/2028 (4)		25,000		25,875
				239,876
Total Structured Note		(Cost $                   325,391)		334,804
Money Market Registered Investment Companies - 4.41%
Federated Treasury Obligation Fund - Institutional Shares 0.01% (4)		506,993		506,993
Total Money Market Registered Investment Companies		(Cost $                   506,993)		506,993
Total Investments - 99.05%		(Cost $              11,119,348)		11,385,263
Other Assets less Liabilities - .95%				108,906
Total Net Assets - 100.00%				11,494,169
(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  May 31, 2021 in valuing the Fund's assets carried at fair value:
		Investments in		Other Financial
Valuation Inputs		Securities		Instruments
Level 1 - Quoted Prices	$	1,993,347	$	-
Level 2 - Other Significant Observable Inputs		9,391,916		-
Level 3 - Significant Unobservable Inputs		-		-
Total	$	11,385,263	$	-
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.
(2)  Represents non-income producing securities.
(3) Exchange Traded Funds.
(4) Variable rate security; the coupon rate shown represents the yield at May 31, 2021.
(5) All Corporate Bonds, Municipal Bonds and Structured Notes are categorized as Level 2 of the fair value hierarchy. Refer to Note 3 of the accompanying notes to the financial statements for additional information.
(a) Security converts to floating rate after the indicated fixed-rate coupon period.
(b) Perpetual security. Perpetual securities have no stated maturity date, but they may be called/redeemed by the issuer.
ADR - American Depository Receipt
LIBOR- London Inter-Bank Offer Rate, which is an international interest rate benchmark that almost all banks use as reference to set their funding costs.
FRN - Floating Rate Note is a debt instrument whose coupon rate is variable and it tied to a benchmark rate such as LIBOR or the US Treasury Bill rate.
3-month is the period where it is a fixed period of 3 months a lender will lend at that cost.