THE COVERED BRIDGE FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) | |||||||
December 31, 2023 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 92.3% | |||||||
AEROSPACE & DEFENSE - 1.1% | |||||||
16,000 | RTX Corporation^ | $ 1,346,240 | |||||
APPAREL & TEXTILE PRODUCTS - 1.1% | |||||||
12,000 | NIKE, Inc., Class B^ | 1,302,840 | |||||
ASSET MANAGEMENT - 2.1% | |||||||
3,000 | BlackRock, Inc. (c)^ | 2,435,400 | |||||
BANKING - 10.0% | |||||||
45,000 | Bank of America Corporation^ | 1,515,150 | |||||
15,700 | JPMorgan Chase & Company^ | 2,670,570 | |||||
70,000 | Truist Financial Corporation^ | 2,584,400 | |||||
66,400 | US Bancorp^ | 2,873,792 | |||||
45,000 | Wells Fargo & Company(c)^ | 2,214,900 | |||||
11,858,812 | |||||||
BIOTECH & PHARMA - 9.4% | |||||||
60,000 | Bristol-Myers Squibb Company(c)^ | 3,078,600 | |||||
20,500 | Gilead Sciences, Inc.^ | 1,660,705 | |||||
22,500 | Johnson & Johnson^ | 3,526,650 | |||||
100,000 | Pfizer, Inc. | 2,879,000 | |||||
11,144,955 | |||||||
CHEMICALS - 6.8% | |||||||
11,100 | Avery Dennison Corporation(c)^ | 2,243,976 | |||||
20,000 | CF Industries Holdings, Inc.^ | 1,590,000 | |||||
60,000 | Chemours Company (The)^ | 1,892,400 | |||||
40,000 | Nutrien Ltd. (c) | 2,253,200 | |||||
7,979,576 | |||||||
DIVERSIFIED INDUSTRIALS - 1.6% | |||||||
9,000 | Honeywell International, Inc.^ | 1,887,390 | |||||
ELECTRIC UTILITIES - 6.1% | |||||||
40,000 | CenterPoint Energy, Inc.^ | 1,142,800 | |||||
43,500 | Dominion Energy, Inc. | 2,044,500 | |||||
20,000 | Duke Energy Corporation^ | 1,940,800 |
THE COVERED BRIDGE FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2023 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 92.3% (Continued) | |||||||
ELECTRIC UTILITIES - 6.1% (Continued) | |||||||
28,000 | Sempra Energy^ | $ 2,092,440 | |||||
7,220,540 | |||||||
FOOD - 4.4% | |||||||
35,000 | General Mills, Inc.^ | 2,279,900 | |||||
37,500 | Hormel Foods Corporation | 1,204,125 | |||||
45,000 | Kraft Heinz Company (The)^ | 1,664,100 | |||||
5,148,125 | |||||||
HOME & OFFICE PRODUCTS - 0.4% | |||||||
50,000 | Newell Brands, Inc. | 434,000 | |||||
INSURANCE - 1.3% | |||||||
15,000 | Prudential Financial, Inc.^ | 1,555,650 | |||||
LEISURE PRODUCTS - 1.5% | |||||||
35,000 | Hasbro, Inc. | 1,787,100 | |||||
MEDICAL EQUIPMENT & DEVICES - 2.8% | |||||||
40,000 | Medtronic PLC(c)^ | 3,295,200 | |||||
METALS & MINING - 1.5% | |||||||
40,000 | Barrick Gold Corporation^ | 723,600 | |||||
25,000 | Newmont Corporation(c) | 1,034,750 | |||||
1,758,350 | |||||||
OIL & GAS PRODUCERS - 8.5% | |||||||
40,000 | Chesapeake Energy Corporation(c)^ | 3,077,600 | |||||
16,000 | Chevron Corporation^ | 2,386,560 | |||||
15,000 | EOG Resources, Inc.^ | 1,814,250 | |||||
27,000 | Exxon Mobil Corporation^ | 2,699,460 | |||||
9,977,870 | |||||||
RETAIL - CONSUMER STAPLES - 5.4% | |||||||
10,000 | Target Corporation^ | 1,424,200 | |||||
100,000 | Walgreens Boots Alliance, Inc. (c)^ | 2,611,000 | |||||
15,000 | Walmart, Inc. (c)^ | 2,364,750 | |||||
6,399,950 |
THE COVERED BRIDGE FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2023 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 92.3% (Continued) | |||||||
RETAIL - DISCRETIONARY - 1.5% | |||||||
5,000 | Home Depot, Inc. (The)^ | $ 1,732,750 | |||||
SEMICONDUCTORS - 5.9% | |||||||
70,000 | Intel Corporation^ | 3,517,500 | |||||
24,000 | QUALCOMM, Inc. (c)^ | 3,471,120 | |||||
6,988,620 | |||||||
SOFTWARE - 1.1% | |||||||
12,000 | Oracle Corporation^ | 1,265,160 | |||||
TECHNOLOGY HARDWARE - 5.4% | |||||||
40,000 | Cisco Systems, Inc. (c)^ | 2,020,800 | |||||
40,000 | Corning, Inc.^ | 1,218,000 | |||||
90,000 | Juniper Networks, Inc.^ | 2,653,200 | |||||
5,000 | Seagate Technology Holdings PLC^ | 426,850 | |||||
6,318,850 | |||||||
TECHNOLOGY SERVICES - 0.7% | |||||||
5,100 | International Business Machines Corporation^ | 834,105 | |||||
TELECOMMUNICATIONS - 5.4% | |||||||
200,000 | AT&T, Inc. | 3,356,000 | |||||
81,100 | Verizon Communications, Inc. (c) | 3,057,470 | |||||
6,413,470 | |||||||
TIMBER REIT - 1.2% | |||||||
40,000 | Weyerhaeuser Company^ | 1,390,800 | |||||
TOBACCO & CANNABIS - 2.2% | |||||||
65,000 | Altria Group, Inc.^ | 2,622,100 | |||||
TRANSPORTATION & LOGISTICS - 2.4% | |||||||
18,000 | United Parcel Service, Inc., B^ | 2,830,140 | |||||
WHOLESALE - CONSUMER STAPLES - 2.5% | |||||||
10,000 | Bunge Global S.A.^ | 1,009,500 |
THE COVERED BRIDGE FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2023 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 92.3% (Continued) | |||||||
WHOLESALE - CONSUMER STAPLES - 2.5% (Continued) | |||||||
27,000 | Sysco Corporation^ | $ 1,974,510 | |||||
2,984,010 | |||||||
TOTAL COMMON STOCKS (Cost $122,590,484) | 108,912,003 | ||||||
SHORT-TERM INVESTMENTS — 8.2% | |||||||
MONEY MARKET FUNDS - 8.2% | |||||||
9,110,089 | First American Treasury Obligations Fund, Class X, 5.28%(a) | 9,110,089 | |||||
555,422 | JPMorgan US Treasury Plus Money Market Fund, Class L, 5.20%(a) | 555,422 | |||||
TOTAL MONEY MARKET FUNDS (Cost $9,665,511) | 9,665,511 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $9,665,511) | 9,665,511 | ||||||
Contracts(b) | |||||||
EQUITY OPTIONS PURCHASED* - 0.2% | Expiration Date | Exercise Price | Notional Value | ||||
PUT OPTIONS PURCHASED - 0.2% | |||||||
200 | SPDR S&P 500 ETF Trust | 06/21/2024 | $ 440 | $ 9,506,200 | $ 131,400 | ||
200 | SPDR S&P 500 ETF Trust | 06/21/2024 | 450 | 9,506,200 | 163,000 | ||
TOTAL PUT OPTIONS PURCHASED (Cost - $384,676) | 294,400 | ||||||
TOTAL EQUITY OPTIONS PURCHASED (Cost - $384,676) | 294,400 | ||||||
TOTAL INVESTMENTS - 100.7% (Cost $132,640,671) | $ 118,871,914 | ||||||
CALL OPTIONS WRITTEN - (0.9)% (Premiums Received - $979,773) | (1,082,002) | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 0.2% | 261,240 | ||||||
NET ASSETS - 100.0% | $ 118,051,152 | ||||||
Contracts(b) | |||||||
WRITTEN EQUITY OPTIONS* - (0.9)% | Expiration Date | Exercise Price | Notional Value | Fair Value | |||
CALL OPTIONS WRITTEN- (0.9)% | |||||||
150 | Altria Group, Inc. | 02/16/2024 | $ 40 | $ 605,100 | $ 19,350 | ||
55 | Avery Dennison Corporation | 01/19/2024 | 200 | 1,111,880 | 26,675 | ||
225 | Bank of America Corporation | 01/19/2024 | 34 | 757,575 | 16,200 | ||
200 | Barrick Gold Corporation | 01/19/2024 | 18 | 361,800 | 10,600 | ||
15 | BlackRock, Inc. | 01/19/2024 | 800 | 1,217,700 | 36,150 | ||
100 | Bristol-Myers Squibb Company | 01/19/2024 | 52 | 513,100 | 6,800 | ||
50 | Bunge Global S.A. | 01/19/2024 | 105 | 504,750 | 3,400 |
THE COVERED BRIDGE FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2023 | |||||||
Contracts(b) (continued) | |||||||
WRITTEN EQUITY OPTIONS - (0.9)% | Expiration Date | Exercise Price | Notional Value | Fair Value | |||
CALL OPTIONS WRITTEN- (0.9)% (Continued) | |||||||
200 | CenterPoint Energy, Inc. | 01/19/2024 | $ 29 | $ 571,400 | $ 6,000 | ||
100 | CF Industries Holdings, Inc. | 01/19/2024 | 75 | 795,000 | 52,000 | ||
300 | Chemours Company (The) | 01/19/2024 | 32 | 946,200 | 26,100 | ||
100 | Chesapeake Energy Corporation | 01/19/2024 | 78 | 769,400 | 19,500 | ||
60 | Chevron Corporation | 01/19/2024 | 150 | 894,960 | 16,200 | ||
191 | Cisco Systems, Inc. | 01/19/2024 | 50 | 964,932 | 16,044 | ||
200 | Corning, Inc. | 01/19/2024 | 30 | 609,000 | 16,400 | ||
50 | Duke Energy Corporation | 01/19/2024 | 98 | 485,200 | 6,000 | ||
50 | EOG Resources, Inc. | 01/19/2024 | 122 | 604,750 | 11,750 | ||
90 | Exxon Mobil Corporation | 01/19/2024 | 100 | 899,820 | 19,440 | ||
125 | General Mills, Inc. | 01/19/2024 | 65 | 814,250 | 12,500 | ||
50 | General Mills, Inc. | 01/19/2024 | 66 | 325,700 | 3,500 | ||
100 | Gilead Sciences, Inc. | 01/19/2024 | 80 | 810,100 | 20,000 | ||
25 | Home Depot, Inc. (The) | 01/19/2024 | 315 | 866,375 | 77,875 | ||
25 | Home Depot, Inc. (The) | 01/19/2024 | 355 | 866,375 | 4,750 | ||
45 | Honeywell International, Inc. | 01/19/2024 | 200 | 943,695 | 49,950 | ||
100 | Intel Corporation | 01/19/2024 | 48 | 502,500 | 33,000 | ||
51 | International Business Machines Corporation | 01/19/2024 | 165 | 834,105 | 7,293 | ||
75 | Johnson & Johnson | 01/19/2024 | 155 | 1,175,550 | 25,500 | ||
75 | JPMorgan Chase & Company | 01/19/2024 | 165 | 1,275,750 | 46,125 | ||
200 | Juniper Networks, Inc. | 01/19/2024 | 29 | 589,600 | 17,000 | ||
150 | Kraft Heinz Company (The) | 01/19/2024 | 37 | 554,700 | 8,250 | ||
100 | Medtronic plc | 01/19/2024 | 83 | 823,800 | 13,000 | ||
50 | Medtronic plc | 01/19/2024 | 83 | 411,900 | 5,700 | ||
60 | NIKE, Inc. | 01/19/2024 | 120 | 651,420 | 720 | ||
60 | Oracle Corporation | 01/19/2024 | 106 | 632,580 | 10,260 | ||
50 | Prudential Financial, Inc. | 01/19/2024 | 100 | 518,550 | 24,150 | ||
120 | QUALCOMM, Inc. | 01/19/2024 | 145 | 1,735,560 | 36,840 | ||
80 | RTX Corporation | 01/19/2024 | 81 | 673,120 | 30,200 | ||
50 | Seagate Technology Holdings plc | 01/19/2024 | 85 | 426,850 | 15,000 | ||
90 | Sempra | 01/19/2024 | 73 | 672,570 | 24,930 | ||
50 | Sempra | 01/19/2024 | 75 | 373,650 | 5,250 | ||
90 | Sysco Corporation | 02/16/2024 | 75 | 658,170 | 9,900 | ||
50 | Target Corporation | 01/19/2024 | 140 | 712,100 | 23,000 | ||
100 | Truist Financial Corporation | 01/19/2024 | 37 | 369,200 | 11,000 | ||
60 | United Parcel Service, Inc. | 01/19/2024 | 163 | 943,380 | 6,000 | ||
64 | US Bancorp | 01/19/2024 | 40 | 276,992 | 24,000 | ||
300 | US Bancorp | 01/19/2024 | 45 | 1,298,400 | 22,500 | ||
200 | Walgreens Boots Alliance, Inc. | 01/19/2024 | 23 | 522,200 | 78,000 | ||
75 | Walmart, Inc. | 01/19/2024 | 155 | 1,182,375 | 31,500 | ||
150 | Wells Fargo & Company | 01/19/2024 | 45 | 738,300 | 68,400 | ||
75 | Wells Fargo & Company | 01/19/2024 | 50 | 369,150 | 6,600 | ||
100 | Weyerhaeuser Company | 01/19/2024 | 33 | 347,700 | 20,700 | ||
TOTAL CALL OPTIONS WRITTEN (Premiums Received - $979,773) | 1,082,002 | ||||||
TOTAL EQUITY OPTIONS WRITTEN (Premiums Received - $979,773) | $ 1,082,002 |
THE COVERED BRIDGE FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
December 31, 2023 |
ETF | - Exchange-Traded Fund |
LTD | - Limited Company |
PLC | - Public Limited Company |
REIT | - Real Estate Investment Trust |
S/A | - Société Anonyme |
SPDR | - Standard & Poor's Depositary Receipt |
* | Non-income producing security. |
^ | Security is subject to written call options. |
(a) | Rate disclosed is the seven day effective yield as of December 31, 2023. |
(b) | Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security. |
(c) | All or portion of the security is pledged as collateral for written options. |