| | | | | | | | |
Schedule of Investments | |
November 30, 2024 (unaudited) | |
Archer Dividend Growth Fund | |
|
|
|
|
|
|
|
|
|
|
|
|
| Shares or Principal |
|
|
Security Description | | | Amount ($) | | Fair Value ($)(1) |
|
|
|
|
|
|
Common Stocks - 84.20% | |
|
|
|
|
|
|
|
|
Beverages - 1.91% |
|
|
|
|
|
|
The PepsiCo, Inc. |
|
|
| 2,900 |
| 474,005 |
|
|
|
|
|
|
|
|
Biological Products (No Diagnostic Substance) - 2.64% |
|
|
|
|
|
Gilead Sciences, Inc. |
|
|
| 7,065 |
| 654,078 |
|
|
|
|
|
|
|
|
Bottled & Canned Soft Drinks & Carbonated Waters - 2.53% |
|
|
|
|
|
Coca-Cola FEMSA S.A.B. de C.V. ADR Series L |
|
| 7,850 |
| 625,096 |
|
|
|
|
|
|
|
|
Canned, Frozen & Preserved Fruit, Veg & Food Specialties - 2.07% |
|
|
|
|
|
The Kraft Heinz Co. |
|
|
| 16,000 |
| 511,520 |
|
|
|
|
|
|
|
|
Computer & Office Equipment - 2.76% |
|
|
|
|
|
International Business Machines Corp. |
|
| 3,000 |
| 682,230 |
|
|
|
|
|
|
|
|
Construction Machinery & Equipment - 2.56% |
|
|
|
|
|
Caterpillar, Inc. |
|
|
| 1,560 |
| 633,532 |
|
|
|
|
|
|
|
|
Electric & Other Services Combined - 8.50% |
|
|
|
|
|
Consolidated Edison, Inc. |
|
|
| 5,405 |
| 543,689 |
Duke Energy Corporation |
|
|
| 5,082 |
| 594,848 |
Exelon Corporation |
|
|
| 14,100 |
| 557,796 |
Nisource, Inc. |
|
|
|
| 10,700 |
| 407,563 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2,103,896 |
|
|
|
|
|
|
|
|
Electric Services - 8.12% |
|
|
|
|
|
|
American Electric Power Co., Inc. |
|
| 6,500 |
| 649,090 |
Entergy Corp. |
|
|
|
| 4,800 |
| 749,616 |
The Southern Co. |
|
|
| 6,850 |
| 610,541 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2,009,247 |
|
|
|
|
|
|
|
|
Guided Missiles & Space Vehicles & Parts - 2.73% |
|
|
|
|
|
Lockheed Martin Corp. |
|
|
| 1,275 |
| 674,998 |
|
|
|
|
|
|
|
|
Life Insurance - 3.34% |
|
|
|
|
|
|
Manulife Financial Corp. (Canada) |
|
| 25,700 |
| 825,741 |
|
|
|
|
|
|
|
|
National Commercial Banks - 8.88% |
|
|
|
|
|
JPMorgan Chase & Co. |
|
|
| 3,150 |
| 786,618 |
Regions Financial Corp. |
|
|
| 31,600 |
| 861,416 |
Truist Financial Corp. |
|
|
| 11,525 |
| 549,512 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2,197,546 |
|
|
|
|
|
|
|
|
Natural Gas Transmission - 3.24% |
|
|
|
|
|
Kinder Morgan, Inc. |
|
|
| 28,400 |
| 802,868 |
|
|
|
|
|
|
|
|
Petroleum Refining- 5.57% |
|
|
|
|
|
BP plc ADR |
|
|
|
| 12,965 |
| 380,004 |
Chevron Corp. |
|
|
| 3,270 |
| 529,511 |
Phillips 66 |
|
|
|
| 3,500 |
| 468,930 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1,378,445 |
|
|
|
|
|
|
|
|
Pharmaceutical Preparations - 12.10% |
|
|
|
|
|
AbbVie, Inc. |
|
|
|
| 4,590 |
| 839,649 |
Bristol Myers Squibb Co. |
|
|
| 9,970 |
| 590,423 |
Johnson & Johnson |
|
|
| 3,485 |
| 540,210 |
Merck & Co., Inc. |
|
|
| 6,415 |
| 652,021 |
Pfizer, Inc. |
|
|
|
| 14,200 |
| 372,182 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2,994,485 |
|
|
|
|
|
|
|
|
Plastic Materials, Synthetic Resins & Nonvulcan Elastomers- 1.44% |
|
|
|
|
|
Dow, Inc. |
|
|
|
| 8,050 |
| 355,891 |
|
|
|
|
|
|
|
|
Retail - Drug Stores and Proprietary Stores - 1.55% |
|
|
|
|
|
CVS Health Corp. |
|
|
| 6,400 |
| 383,040 |
|
|
|
|
|
|
|
|
Semiconductors & Related Devices - 3.14% |
|
|
|
|
|
Broadcom, Inc. |
|
|
| 4,800 |
| 777,984 |
|
|
|
|
|
|
|
|
Specialty Cleaning, Polishing And Sanitation Preparations - 2.62% |
|
|
|
|
|
The Clorox Co. |
|
|
| 3,620 |
| 648,921 |
|
|
|
|
|
|
|
|
Soap, Detergent, Cleaning Preparations, Perfumes, Cosmetics - 1.74% |
|
|
|
|
|
The Procter & Gamble Co. |
|
|
| 2,575 |
| 430,463 |
|
|
|
|
|
|
|
|
State Commercial Banks - 2.63% |
|
|
|
|
|
Citizens Financial Group, Inc. |
|
| 13,500 |
| 649,890 |
|
|
|
|
|
|
|
|
Telephone Communications (No Radio Telephone) - 2.49% |
|
|
|
|
|
Verizon Communications, Inc. |
|
| 13,900 |
| 616,326 |
|
|
|
|
|
|
|
|
Trucking & Courier Services - 1.67% |
|
|
|
|
|
United Parcel Service, Inc. Class B |
|
| 3,050 |
| 413,946 |
|
|
|
|
|
|
|
|
Total Common Stock |
|
|
| (Cost $ 14,328,878) |
| 20,844,145 |
|
|
|
|
|
|
|
|
Real Estate Investment Trusts - 9.81% | |
|
|
|
|
|
|
|
|
Crown Castle International Corp. |
|
| 3,600 |
| 382,500 |
Iron Mountain, Inc. |
|
|
| 7,800 |
| 964,626 |
Net Lease Office Properties |
|
| 12,860 |
| 282,791 |
VICI Properties, Inc. |
|
|
| 12,500 |
| 407,625 |
W.P. Carey, Inc. |
|
|
| 6,835 |
| 390,005 |
|
|
|
|
|
|
|
|
Total Real Estate Investment Trusts | (Cost $ 1,657,074) |
| 2,427,548 |
|
|
|
|
Money Market Registered Investment Companies - 5.59% | |
|
|
|
|
|
|
|
|
Federated Treasury Obligation Fund - Institutional Shares - 4.50% (3) | 1,384,738 |
| 1,384,738 |
|
|
|
|
Total Money Market Registered Investment Companies | (Cost $ 1,384,738) |
| 1,384,738 |
|
|
|
|
Total Investments - 99.60% | (Cost $ 17,370,690) |
| 24,656,430 |
|
|
|
|
Other Assets Less Liabilities - 0.40% |
|
| 98,870 |
|
|
|
|
Total Net Assets - 100.00% |
|
| 24,755,300 |
|
|
|
|
|
|
|
|
|
|
|
|
(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 November 29, 2024 in valuing the Fund's assets carried at fair value: | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| | | | | Investments in | | Other Financial |
Valuation Inputs | | | | Securities | | Instruments |
Level 1 - Quoted Prices | | | $ | 24,656,430 | $ | 0 |
Level 2 - Other Significant Observable Inputs | | | - | | - |
Level 3 - Significant Unobservable Inputs | | | - | | - |
Total | | | | $ | 24,656,430 | $ | 0 |
|
|
|
|
|
|
|
|
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. | |
|
|
|
|
|
|
|
|
(3) Variable rate security; the coupon rate shown represents the yield at November 29, 2024. | |
