Archer Investment Series Trust NPORT-P Monthly portfolio investment report

Schedule of Investments
May 31, 2023 (unaudited)
Archer Income Fund
		Shares or Principal
Security Description		Amount ($)		Fair Value ($)(1)
Corporate Bonds - 44.71% (5)
Air Transportation, Scheduled - 0.92%
Southwest Airlines Co., 5.250%, due 05/04/25		150,000		149,433
Aircraft - 0.87%
Boeing Co., 2.600%, due 10/30/25		150,000		140,877
Beverages - 0.60%
Keurig Dr. Pepper, Inc., 3.130%, due 12/15/2023		100,000		98,649
Business Services - 0.59%
Thomson Reuters Corp., 3.85%, due 09/29/24		100,000		97,228
Electric Services - 0.91%
Southern California Edison Co. Series E, 9.498%, to 08/01/23 (3-month US Libor + 4.199%, to 08/01/49 (a) (b)		50,000		49,500
Southern Co., 2.950%, due 07/01/23		100,000		99,707
				149,207
Electronic & Other Electrical Equipment (No Computer Equipment) - 0.55%
General Electric Co. Series A, 7.146%, to 09/15/23 (a) (b)		100,000		90,772
Financial Services - 1.71%
CommunityWide Federal Credit Union, 5.000%, 12/08/2025		150,000		149,283
General Motors Financial Company, Inc. Series C, 5.70%, to 09/30/30 (a) (b)		150,000		131,245
				280,528
General Building Contractors - Residential Buildings - 0.90%
Lennar Corp., 4.750%, due 11/29/27		100,000		97,902
Lennar Corp., 4.875%, due 12/15/23		50,000		49,898
				147,800
Hotels and Motels - 0.61%
Marriott International, Inc., Series Z,  4.150%, 12/01/23		100,000		99,438
Investment Advice - 1.17%
Affiliated Managers Group, Inc., 3.500%, due 08/01/25		200,000		191,224
National Commercial Banks - 8.81%
Banc of California, Inc., 5.250%, due 04/15/25		200,000		166,225
CenterState Bank Corp., 5.750%, to 06/01/25 (a)		10,000		9,413
Citigroup, Inc. Series B, 9.550%, to 08/15/23 (a) (b)		100,000		99,717
Citigroup Global Markets, Inc., 3.000%, due 07/17/23		200,000		198,207
JPMorgan & Chase Co. Series B, 5.799%, due 2/01/27 (3-month US Libor + .50%) FRN		150,000		138,409
JPMorgan Chase & Co. Series CC, 7.879%, due 08/01/23 (a) (b)		150,000		147,561
JPMorgan Chase & Co., Series Q, 5.150%, 08/01/23 Perp		150,000		150,750
Mellon Capital IV Series 1, 5.527%, to 06/26/23 (3-month US Libor + 0.565%) (b)  (4)		200,000		153,117
Old National Bancorp, 4.125%, due 08/15/24		100,000		92,227
Truist Financial Corp. Series M, 5.125%, to 12/15/27 (a) (b)		100,000		75,000
Truist Financial Corp. Series Q, 5.100%, to  03/01/30		75,000		66,000
U.S. Bancorp, 3.700%, to 01/15/27 (a) (b)		200,000		145,845
				1,442,471
Natural Gas Distribution - 0.30%
National Fuel Gas Co., 5.200%, due 07/15/25		50,000		49,504
Personal Credit Institutions - 1.32%
Discover Financial Services Series D, 6.125%, to 06/23/25 (a) (b)		100,000		92,235
OneMain Finance Corp., 3.500%, due 01/15/27		150,000		124,701
				216,936
Property & Casualty Insurance - 0.92%
Finial Holdings, Inc., 7.125%, due 10/15/23		150,000		150,550
Real Estate Investment Trusts - 0.56%
Ready Capital Corp., 5.750%, due 02/15/26		4,000		92,400
Retail-Department Store - 0.22%
Dillards, Inc., 7.750%, due 07/15/26		35,000		35,738
Security Brokers, Dealers & Flotation Companies - 1.74%
Capital Southwest Corp., 3.375%, due 10/01/26		100,000		88,750
Charles Schwab Corp., 3.750%, 04/01/24		200,000		196,361
				285,111
Semiconductors & Related Devices - 0.91%
Microchip Technology, Inc., 2.670%, 09/01/2023		150,000		148,689
				148,689
Services-Equipment Rental & Leasing - 1.40%
Air Lease Corp., 3.625%, due 12/01/27		100,000		91,152
United Rentals, Inc., 3.875%, due 11/15/27		150,000		138,772
				229,924
Services-General Medical & Surgical Hospitals - 1.61%
HCA Healthcare, Inc., 7.050%, 12/01/27		250,000		263,573
Services - Miscellaneous & Recreation - 2.58%
Walt Disney Co., 7.700%, 10/30/25		400,000		421,716
Services-Prepackaged Software - 0.87%
VMWare, Inc., 3.900%, due 08/21/27		150,000		142,748
State Commercial Banks - 12.09%
Ally Financial, Inc. Series B, 4.700%, to 05/15/26 (a) (b)		150,000		104,250
Eagle Bancorp, Inc., 5.750%, due 09/01/24		150,000		133,413
Fifth Third Bancorp Series L, 4.500%, to 09/30/2025 (a) (b)		150,000		129,527
Fifth Third Bancorp., 4.300%, 01/16/24		300,000		294,093
First Citizens Bank, 3.929%, 06/19/2024		75,000		74,116
First Citizens Bank, 6.125%, 03/09/28		350,000		347,566
Hilltop Holdings, Inc., 5.000%, 04/15/25		100,000		96,608
Keycorp, 2.250%, 04/06/27		200,000		164,936
Merchants Bancorp, 8.250%, to 10/01/27		4,000		95,240
State Street Corp., 7.350%, 06/15/26		500,000		529,203
SVB Financial Group, 4.100%, to 02/15/31 (a) (b)		150,000		11,341
				1,980,293
Steel Works, Blast Furances Rolling Mill - 0.91%
Steel Dynamics, Inc., 5.00%, 12/15/26		150,000		148,372
Telephone Communications (No Radio Telephone) - 0.32%
Indiana Bell Tel Co., Inc., 7.300%, due 08/15/26		50,000		51,982
Television Broadcasting Stations - 0.33%
CBS Broadcasting, Inc., 7.125%, due 11/01/23		54,000		54,058
Wholesale-Groceries & Related Products - 0.99%
Sysco Corp., 6.500%, due 08/01/28		152,000		161,515
Total Corporate Bonds		(Cost $            7,961,975)		7,320,736
Exchange-Traded Funds - 0.19% (3)
iShares US Preferred Stock ETF		1,000		30,460
Total Exchange-Traded Funds		(Cost $                 37,982)		30,460
Municipal Bonds - 19.05% (5)
Arizona - 0.07%
Maricopa County School District No. 66 Roosevelt Elementary 6.243%, due 07/01/26		10,000		10,268
California - 0.90%
Sacramento, CA Pension Oblg. Series A, 6.420%, due 08/01/23		50,000		50,043
Sacramento Cnty., CA Pension Oblg., 6.625%, due 08/01/24		95,000		95,906
				145,949
Connecticut - 0.12%
Stratford CT Taxable, 5.750%, due 08/15/30		20,000		19,999
Florida - 0.84%
North Miami Beach, FL, Water Revenue Series B, 2.311%, due 08/01/27		150,000		137,051
Georgia - 0.32%
Georgia Local Government, 4.750%, due 06/01/28		50,000		52,162
Illinois - 0.22%
Rosemont, IL Ref Bds Series A, 5.375%, due 12/01/25		15,000		15,017
State of Illinois, 4.950%, due 06/01/23		20,455		20,455
				35,472
Indiana - 4.21%
Beech Grove, IN Sch Bldg. Corp., 2.850%, due 07/05/25		140,000		135,244
Elkhart Community Schools, 3.100%, 07/20/24		250,000		243,990
Evansville-Vanderburgh, IN School Bldg. Corp. Series B, 5.900%, due 07/15/26		165,000		168,848
Evansville-Vanderburgh, IN School Bldg. Corp. Series B, 6.150%, due 07/15/27		100,000		102,361
Merrillville, IN, Multi Sch Bldg. Corp., Series B, 3.860%, due 07/15/23		15,000		14,972
Warsaw Industry Redevelopment District Tax Taxable Special Taxing District Series A, 4.750%, due 02/01/26		25,000		24,380
				689,795
Maryland - 0.62%
Baltimore MD, Brd of Sch Commissioners City Schs Revenue, 5.692%, due 12/15/25		100,000		102,341
Michigan - 1.16%
Michigan State Taxable School Loan Series A, 3.200%, due 05/15/27		200,000		189,920
New York - 2.83%
City of New York, NY, 1.980%, due 08/01/23		150,000		149,112
New York St Dorm Auth Revenues, 1.085%, 07/01/2024		200,000		190,714
Schenectady, NY Metroplex Development Authority Revenue Taxable Ref, 2.250%, due 08/01/23		125,000		124,339
				464,165
Ohio - 2.33%
Avon, OH, General Obligations Various Purpose Improvement Refunding Bonds, Series 2020, 0.955%, due 12/01/25		100,000		91,289
Bloom & Carroll Ohio Loc Sch Dist, 5.800%, due 12/01/25		60,000		61,478
Cleveland, OH Income Tax Revenue Build America Bonds, 6.060%, due 10/01/26		15,000		15,331
Cleveland OH Public Power System Revenue, 5.500%, 11/15/2038		100,000		100,127
JobsOhio Beverage Sys Stwd Lien Liquor Profits Revenue Refunding Bonds, Series 2020A, 2.268%, due 01/01/2028		125,000		113,198
				381,423
Oklahoma - 0.09%
Garfield County, OK, 6.000%, due 09/01/24		15,000		15,067
Oregon - 1.10%
Oregon State Sch Brds Assn Pension, Series B, 5.450%, due 06/30/24		25,000		24,996
Philomath, Oregon Sch District, 5.472%, due 06/15/27		150,000		154,831
				179,827
Pennsylvania - 1.66%
East Norriton & Plymouth PA, Jt Swr Auth, 1.832%, due 8/01/28		200,000		176,058
Pennsylvania Higher Educational Facs Authority Revenue, 3.000%, 06/15/25		100,000		96,503
				272,561
Texas - 0.82%
Austin, TX Electric Utility System Revenue Taxable Series A, 2.524%, due 11/15/23		20,000		19,732
City of Irving, TX, 5.657%, due 08/15/23		25,000		24,942
North Texas Tollway Authority, 8.410%, due 02/01/30		49,000		54,393
Texas St. Taxable Refunding Public Finance Authority Series C, 2.531%, due 10/01/23		35,000		34,661
				133,728
Virginia - 0.90%
Virginia St Resources Auth Infrastructure Revenue, 1.972%, 11/01/23		150,000		148,004
Washington - 0.83%
City of Bellevue, WA, 0.751%, 12/01/25		150,000		135,939
Wisconsin - 0.03%
Public Finance Authority, WI, 5.750%, due 06/01/23		5,000		5,000
Total Municipal Bonds		(Cost $            3,241,501)		3,118,671
US Government Treasury - 23.69%
U.S. Government Treasury Bill, 0.000%, 07/13/23		250,000		248,516
U.S. Government Treasury Bill, 0.000%, 07/25/23		800,000		793,812
U.S. Government Treasury Bill, 0.000%, 08/03/23		250,000		247,743
U.S. Government Treasury Bill, 0.000%, 09/21/23		800,000		787,306
U.S. Government Treasury Bill, 0.000%, 10/12/23		250,000		245,136
U.S. Government Treasury Bill, 0.000%, 03/21/24		250,000		239,927
U.S. Government Treasury Bill, 0.250%, 03/15/24		800,000		769,438
U.S. Government Treasury Bill, 4.625%, 02/28/25		300,000		300,199
U.S. Government Treasury Bond, 3.875%, 03/31/25		250,000		247,139
				3,879,216
Total US Government Treasury		(Cost $            3,887,340)		3,879,216
Preferred Securities - 3.66%
Asset Management - 0.36%
B Riley Financial, Inc., 6.50%, due 09/30/26		3,000		58,800
National Commercial Banks - 2.75%
BAC Capital Trust XIII Series F, 5.266% (3-month Libor + 0.40%) (b)  (4)		100,000		74,149
Huntington Bancshares, Inc. Series E, 8.140%, to 07/15/23 (a) (b)		150,000		121,540
Huntington Bancshares, Inc. Series G, 4.450%, to 10/15/27 (a) (b)		150,000		119,242
PNC Capital Trust C, 5.532%, due 06/01/28 (3-month Libor + 0.57%) FRN		150,000		135,203
				450,134
State Commercial Banks - 0.55%
Medallion Bank Utah Series F, 8.000%, to 04/01/25 (a) (b)		4,000		89,840
Total Preferred Securities		(Cost $               721,556)		598,774
Structured Note - 2.12%  (5)
		Shares		Value
National Commercial Banks - 0.47%
Key Corp., 5.917%, due 07/01/28 (3-month US Libor + 0.74%) FRN		100,000		77,430
Security Brokers, Dealers & Flotation Companies - 1.65%
Goldman Sachs Group, Inc. Series MTN, 0.00%, Capped at 10%   (4) (maturity date: 12/13/28)		100,000		74,224
Goldman Sachs Group, Inc., 0.00%, Capped at 10%  (4) (maturity date: 11/13/28)		120,000		92,100
Morgan Stanley, Series MTN, 0.000%, due 08/19/28 Capped at 10%  (4)		114,000		85,517
Morgan Stanley, Series MTN,  0.000%, due 08/30/28 Capped at 12%  (4)		25,000		17,754
				269,595
Total Structured Note		(Cost $              445,334)		347,025
Money Market Registered Investment Companies - 5.75%
Federated Treasury Obligation Fund - Institutional Shares 4.95% (4)		941,424		941,424
Total Money Market Registered Investment Companies		(Cost $              941,424)		941,424
Total Investments - 99.15%		(Cost $         17,237,112)		16,236,306
Other Assets Less Liabilities - (.85%)				138,856
Total Net Assets - 100.00%				16,375,162
(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, 2023 in valuing the Fund's assets carried at fair value:
		Investments in		Other Financial
Valuation Inputs		Securities		Instruments
Level 1 - Quoted Prices	$	1,308,164	$	-
Level 2 - Other Significant Observable Inputs		14,928,142		-
Level 3 - Significant Unobservable Inputs		-		-
Total	$	16,236,306	$	-
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, 2023.
(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.