Community Development Fund NPORT-P Community Development Fund (Mar 2024 report)

The Community Development Fund March 31, 2024 (Unaudited)

SCHEDULE OF INVESTMENTS

		Face		Market
Description	Amount		Value
U.S. GOVERNMENT & AGENCY OBLIGATIONS - 73.0%
FHLMC Multifamily - 25.9%
2021-P009, 1.13%, 01/25/2031	$	358,064	$	314,588
KSG1, 1.50%, 09/25/2030		3,870,000		3,220,284
K123, 1.62%, 12/25/2030		1,500,000		1,244,643
KG06, 1.78%, 10/25/2031		1,200,000		988,818
2021-P009, 1.88%, 01/25/2031		1,000,000		837,544
K135, 1.91%, 10/25/2031 (a)		3,500,000		2,891,520
KSG2, 2.09%, 11/25/2031 (a)		1,000,000		838,070
K141, 2.25%, 02/25/2032		4,800,000		4,054,479
KSG3, 2.65%, 05/25/2032 (a)		2,000,000		1,731,776
K145, 2.65%, 06/25/2055		1,787,393		1,640,772
2022-P013, 2.85%, 02/25/2032 (a)		2,000,000		1,700,133
K1514, 2.86%, 10/25/2034		2,300,000		1,931,842
K092, 3.13%, 10/25/2028		2,846,918		2,737,907
K088, 3.69%, 01/25/2029		1,000,000		960,551
K158, 4.05%, 07/25/2033		5,200,000		4,960,100
KF136, 5.73%, SOFR30A + 0.410%, 04/25/2032 (a)		719,706		711,820
KBF1, 5.82%, SOFR30A + 0.504%, 07/25/2024 (a)		51,715		51,687
KF141, 5.89%, SOFR30A + 0.570%, 07/25/2032 (a)		4,315,693		4,312,699
				35,129,233
FHLMC Single Family - 7.6%
Pool RA5346, 2.00%, 05/01/2051		1,086,905		870,462
Pool Q41874, 3.00%, 07/01/2046		1,000,446		884,571
Pool RA1853, 3.00%, 12/01/2049		770,147		673,319
Pool WA4823, 3.08%, 02/01/2050		5,692,292		4,330,772
Pool WA0500, 3.48%, 03/01/2047		2,310,948		1,948,940
Pool WN2253, 4.00%, 09/01/2032		1,000,000		943,301
Pool RJ0241, 6.00%, 10/01/2053		571,765		586,945
				10,238,310

The Community Development Fund March 31, 2024 (Unaudited)

SCHEDULE OF INVESTMENTS (Continued)

		Face		Market
Description	Amount		Value
FNMA Multifamily - 4.3%
2023-M5, 4.40%, 07/25/2033 (a)	$	5,000,000	$	4,849,208
2024-M1, 4.50%, 01/25/2034 (a)		1,000,000		972,529
				5,821,737
FNMA Single Family - 20.1%
Pool CA7479, 2.00%, 10/01/2050		739,087		589,421
Pool CA7480, 2.00%, 10/01/2050		1,066,948		856,198
Pool CA8444, 2.00%, 12/01/2050		820,531		659,827
Pool CB0268, 2.00%, 04/01/2051		3,144,726		2,523,290
Pool BT0120, 2.00%, 05/01/2051		1,069,906		855,584
Pool CB1441, 2.00%, 08/01/2051		2,958,114		2,348,623
Pool CB2317, 2.00%, 12/01/2051		1,378,175		1,096,991
Pool CB2738, 2.50%, 01/01/2052		4,907,528		4,070,112
Pool CB2739, 2.50%, 01/01/2052		635,118		530,555
Pool CB2830, 2.50%, 02/01/2052		1,129,149		941,635
Pool AS7484, 3.00%, 06/01/2046		433,727		384,825
Pool BC0962, 3.00%, 06/01/2046		248,526		221,750
Pool AS7476, 3.00%, 07/01/2046		354,541		314,542
Pool AS7647, 3.00%, 07/01/2046		647,142		574,455
Pool AS7653, 3.00%, 07/01/2046		1,054,876		928,110
Pool AS8262, 3.00%, 10/01/2046		540,983		475,684
Pool CA4927, 3.00%, 01/01/2050		324,298		283,235
Pool AN5657, 3.30%, 07/01/2032		345,132		316,279
Pool AS8734, 3.50%, 01/01/2047		562,114		513,120
Pool AS9360, 3.50%, 04/01/2047		370,517		340,375
Pool CA1158, 3.50%, 02/01/2048		250,276		228,257
Pool CA1985, 4.00%, 06/01/2048		235,089		220,410
Pool BZ0271, 5.05%, 01/01/2040		1,997,824		2,034,815
Pool CB7021, 5.50%, 09/01/2053		1,280,793		1,279,174
Pool CB7245, 5.50%, 09/01/2053		1,038,630		1,039,566
Pool CB8111, 5.50%, 03/01/2054		1,501,074		1,506,788

The Community Development Fund March 31, 2024 (Unaudited)

SCHEDULE OF INVESTMENTS (Continued)

		Face		Market
Description	Amount		Value
Pool CB7935, 6.00%, 01/01/2054	$	1,037,304	$	1,056,521
Pool CB8085, 6.00%, 02/01/2054		1,045,670		1,062,618
				27,252,760
GNMA Multifamily - 14.7%
2021-183, 1.75%, 01/16/2063		1,428,844		1,099,082
2023-145, 2.50%, 09/16/2065		3,879,154		3,176,282
2017-135, 2.60%, 08/16/2058		582,268		499,805
2017-74, 2.60%, 09/16/2058		412,480		349,995
2023-92, 3.50%, 10/16/2062 (a)		3,970,106		3,658,814
2023-44, 4.00%, 08/16/2056		2,930,551		2,702,594
2023-16, 4.00%, 07/16/2063 (a)		1,967,568		1,880,469
2023-191, 4.00%, 05/16/2064 (a)		2,394,562		2,227,524
2024-12, 4.25%, 11/01/2036		1,980,368		1,897,437
2023-162, 5.00%, 03/16/2064 (a)		2,417,544		2,462,597
				19,954,599
GNMA Single Family - 0.4%
Pool G2 AU1835, 3.00%, 08/20/2046		385,299		339,159
Pool G2 AU1762, 3.50%, 07/20/2046		265,441		243,793
				582,952
TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS
(COST $107,715,630)				98,979,591
MORTGAGE-BACKED SECURITIES - 17.1%
BX Commercial Mortgage Trust
6.82%, TSFR1M + 1.490%, 01/17/2039 (a)(b)		2,155,000		2,129,409
7.17%, TSFR1M + 1.840%, 01/17/2039 (a)(b)		3,000,000		2,958,750

The Community Development Fund March 31, 2024 (Unaudited)

SCHEDULE OF INVESTMENTS (Continued)

		Face		Market
Description	Amount		Value
FRESB Mortgage Trust
0.83%, 09/25/2040 (a)	$	1,770,768	$	1,668,145
1.03%, 04/25/2040 (a)		1,236,059		1,180,967
1.12%, 06/25/2040 (a)		1,530,947		1,310,437
1.49%, 01/25/2031 (a)		1,720,451		1,434,887
1.50%, 09/25/2041 (a)		959,536		883,233
1.60%, 10/25/2028 (a)		900,195		792,914
2.13%, 11/25/2039 (a)		994,254		952,778
2.21%, 12/25/2029 (a)		1,233,630		1,080,595
2.25%, 12/25/2039 (a)		817,196		704,819
2.42%, 09/25/2029 (a)		1,911,142		1,679,923
3.19%, 12/25/2025 (a)		306,826		296,991
3.87%, 08/25/2038 (a)		1,188,424		1,114,986
4.44%, 09/25/2030 (a)		2,000,000		1,937,177
STWD Mortgage Trust
6.30%, TSFR1M + 0.972%, 11/15/2036 (a)(b)		3,000,000		2,974,688
TOTAL MORTGAGE-BACKED SECURITIES
(COST $24,487,882)				23,100,699
MUNICIPAL BONDS - 7.4%
Colorado - 0.8%
Colorado, Housing and Finance Authority, RB
6.17%, 11/01/2030		1,000,000		1,072,508
Florida - 0.8%
Florida, Housing Finance, RB
4.64%, 01/01/2028		580,000		575,948
4.84%, 01/01/2029		100,000		100,099
4.97%, 01/01/2030		250,000		251,354

The Community Development Fund March 31, 2024 (Unaudited)

SCHEDULE OF INVESTMENTS (Continued)

		Face		Market
Description	Amount		Value
5.03%, 07/01/2030	$	100,000	$	100,723
				1,028,124
Massachusetts - 0.2%
Massachusetts State, Housing Finance Agency, RB
1.08%, 06/01/2024		110,000		109,232
1.18%, 12/01/2024		85,000		82,713
1.23%, 06/01/2025		80,000		76,354
1.33%, 12/01/2025		70,000		65,724
				334,023
Michigan - 0.3%
Michigan State, Housing Development Authority, RB
0.96%, 06/01/2025		500,000		476,198
Nebraska - 0.4%
Nebraska Investment Finance Authority, RB
4.89%, 03/01/2029		100,000		100,321
4.94%, 09/01/2029		100,000		100,466
5.10%, 03/01/2030		100,000		101,148
5.15%, 09/01/2030		100,000		101,308
				403,243
New Jersey - 0.8%
New Jersey, Housing & Mortgage Finance Agency, RB
5.21%, 05/01/2030		435,000		441,208
5.26%, 11/01/2030		445,000		452,121
5.30%, 05/01/2031		320,000		325,585
				1,218,914
New York - 2.8%
New York City, Housing Development Authority, RB
2.24%, 05/01/2030		1,585,000		1,378,800

The Community Development Fund March 31, 2024 (Unaudited)

SCHEDULE OF INVESTMENTS (Continued)

		Face		Market
Description	Amount		Value
2.29%, 11/01/2030	$	415,000	$	357,600
3.43%, 01/01/2027		1,000,000		960,987
5.29%, 02/01/2031		250,000		255,840
5.34%, 08/01/2031		250,000		256,347
5.37%, 08/01/2030		250,000		256,984
5.38%, 02/01/2032		250,000		256,320
				3,722,878
Virginia - 1.3%
Fairfax County, Economic Development Authority, RB
5.59%, 10/01/2024		500,000		500,806
Virginia State, Housing Development Authority, RB
2.11%, 11/01/2029		500,000		438,261
2.31%, 11/01/2031		500,000		421,843
2.46%, 11/01/2032		500,000		416,527
				1,777,437
TOTAL MUNICIPAL BONDS
(COST $10,475,000)				10,033,325
ASSET-BACKED SECURITIES - 0.2%
SBA Small Business Investment
2.94%, 03/10/2032		98,957		89,332
United States Small Business Administration
4.01%, 06/01/2047		156,102		146,526
4.97%, 03/01/2049		50,000		49,844
TOTAL ASSET-BACKED SECURITIES
(COST $296,364)				285,702

The Community Development Fund March 31, 2024 (Unaudited)

SCHEDULE OF INVESTMENTS (Continued)

		Face		Market
Description	Amount		Value
U.S. TREASURY OBLIGATION - 1.5%
U.S. Treasury Notes
4.63%, 02/28/2026	$	2,000,000	$	1,998,828
TOTAL U.S. TREASURY OBLIGATION
(COST $1,998,801)				1,998,828
	Shares
SHORT-TERM INVESTMENT - 0.6%
Short-Term Investment - 0.6%
Fidelity Institutional Government Portfolio, Cl I, 5.21% (c)		774,357		774,357
TOTAL SHORT-TERM INVESTMENT
(COST $774,357)				774,357
TOTAL INVESTMENTS (COST $145,748,034) - 99.8%				135,172,502
OTHER ASSETS AND LIABILITIES - 0.2%				326,374
NET ASSETS - 100.0%			$	135,498,876

A list of the open futures contracts held by the Fund at March 31, 2024, is as follows:

Type of Contract	Number of Contracts			Expiration Date		Notional Amount			Value			Unrealized Appreciation/ (Depreciation)
Short Contracts
U.S. 10-Year Treasury Note		(92	)		Jun-2024	$	(10,155,770	)	$	(10,193,312	)	$	(37,542	)
U.S. Long Treasury Bond		(26	)		Jun-2024		(3,090,078	)		(3,131,375	)		(41,297	)
Ultra 10-Year U.S. Treasury Note		(111	)		Jun-2024		(12,634,227	)		(12,721,641	)		(87,414	)
						$	(25,880,075	)	$	(26,046,328	)	$	(166,253	)

(a) Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.

The Community Development Fund March 31, 2024 (Unaudited)

SCHEDULE OF INVESTMENTS (Concluded)

(b)	Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." The total value of such securities at March 31, 2024 was $8,062,847 and represents 6.0% of Net Assets.
(c)	Rate shown is the 7-day effective yield as of March 31, 2024.

Cl — Class

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

FRESB — Freddie Mac Small Balance Mortgage Trust

GNMA — Government National Mortgage Association

RB — Revenue Bond

SOFR30A — Secured Overnight Financing Rate 30-day Average

TSFR1M — Term Secured Overnight Financing Rate 1 Month