EASTERLY GLOBAL REAL ESTATE FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) | |||||||
November 30, 2022 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 98.3% | |||||||
Australia - 2.3% | |||||||
2,199,642 | NEXTDC Ltd.(a) | $ 15,093,059 | |||||
Bermuda - 2.0% | |||||||
3,335,447 | Hongkong Land Holdings Ltd. | 13,375,142 | |||||
Canada - 1.8% | |||||||
336,942 | Canadian Apartment Properties REIT | 10,946,181 | |||||
129,374 | Dream Industrial Real Estate Investment Trust | 1,162,785 | |||||
12,108,966 | |||||||
Cayman Islands - 3.1% | |||||||
656,386 | CK Asset Holdings Ltd. | 3,928,890 | |||||
2,564,694 | ESR Group Ltd. | 5,821,735 | |||||
487,957 | GDS Holdings Ltd. - ADR(a) | 7,758,516 | |||||
568,505 | Wharf Real Estate Investment Company Ltd. | 2,638,299 | |||||
20,147,440 | |||||||
France - 0.8% | |||||||
229,632 | Klepierre S.A. | 5,327,655 | |||||
Germany - 7.4% | |||||||
864,650 | Deutsche Wohnen S.E. | 18,754,001 | |||||
1,379,456 | Instone Real Estate Group A.G. | 12,327,970 | |||||
950,506 | TAG Immobilien A.G. | 5,739,497 | |||||
489,472 | Vonovia S.E. | 12,172,955 | |||||
48,994,423 | |||||||
Guernsey - 0.5% | |||||||
3,376,570 | Sirius Real Estate Ltd. | 3,356,619 | |||||
Hong Kong - 5.2% | |||||||
5,130,009 | Link REIT | 34,653,026 | |||||
Italy - 0.3% | |||||||
175,554 | Infrastrutture Wireless Italiane SpA | 1,753,096 | |||||
EASTERLY GLOBAL REAL ESTATE FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
November 30, 2022 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 98.3% (Continued) | |||||||
Japan - 10.2% | |||||||
32,030 | Japan Hotel REIT Investment Corporation | $ 17,465,688 | |||||
2,961,184 | Mitsubishi Estate Company Ltd. | 41,815,402 | |||||
2,368 | Mitsui Fudosan Logistics Park, Inc. | 8,598,314 | |||||
67,879,404 | |||||||
Singapore - 2.9% | |||||||
6,822,712 | Keppel DC REIT | 9,329,628 | |||||
7,752,572 | Mapletree Pan Asia Commercial Trust | 9,809,213 | |||||
19,138,841 | |||||||
Spain - 5.0% | |||||||
961,734 | Cellnex Telecom S.A. | 33,113,435 | |||||
United Kingdom - 6.7% | |||||||
15,982,849 | Assura PLC | 10,376,703 | |||||
5,065,725 | Empiric Student Property PLC | 5,281,205 | |||||
3,271,203 | Grainger PLC | 9,643,516 | |||||
411,379 | Great Portland Estates PLC | 2,483,154 | |||||
605,512 | Segro PLC | 5,861,388 | |||||
954,848 | UNITE Group PLC (The) | 10,696,139 | |||||
44,342,105 | |||||||
United States - 50.1% | |||||||
969,085 | Acadia Realty Trust | 14,904,527 | |||||
139,338 | Alexandria Real Estate Equities, Inc. | 21,682,386 | |||||
421,224 | American Homes 4 Rent, Class A | 13,929,878 | |||||
556,460 | Americold Realty Trust, Inc. | 16,610,331 | |||||
610,318 | Broadstone Net Lease, Inc. | 10,357,096 | |||||
81,796 | Camden Property Trust | 9,842,513 | |||||
311,821 | CBRE Group, Inc., Class A(a) | 24,820,952 | |||||
463,810 | CoreCivic, Inc.(a) | 6,159,397 | |||||
130,442 | CubeSmart | 5,398,994 | |||||
1,105,624 | DigitalBridge Group, Inc. | 15,954,154 | |||||
368,532 | Easterly Government Properties, Inc. | 5,837,547 | |||||
1,069,204 | Ellington Financial, Inc. | 14,583,943 | |||||
223,790 | Elme Communities | 4,422,090 | |||||
859,032 | GEO Group, Inc. (The)(a) | 10,153,758 |
EASTERLY GLOBAL REAL ESTATE FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
November 30, 2022 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 98.3% (Continued) | |||||||
United States - 50.1% (Continued) | |||||||
1,023,472 | Independence Realty Trust, Inc. | $ 18,545,313 | |||||
213,704 | Kilroy Realty Corporation | 9,236,287 | |||||
173,910 | Prologis, Inc. | 20,484,859 | |||||
788,182 | Retail Opportunity Investments Corporation | 12,019,776 | |||||
106,763 | Rexford Industrial Realty, Inc. | 5,902,926 | |||||
236,185 | Sun Communities, Inc. | 34,695,577 | |||||
560,566 | UDR, Inc. | 23,246,672 | |||||
365,612 | Ventas, Inc. | 17,011,926 | |||||
209,134 | Welltower, Inc. | 14,854,788 | |||||
330,655,690 | |||||||
TOTAL COMMON STOCKS (Cost $1,024,917,120) | 649,938,901 | ||||||
TOTAL INVESTMENTS - 98.3% (Cost $1,025,020,486) | $ 649,938,901 | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 1.7% | 11,119,522 | ||||||
NET ASSETS - 100.0% | $ 661,058,423 | ||||||
ADR | - American Depositary Receipt |
Ltd. | - Limited Company |
PLC | - Public Limited Company |
REIT | - Real Estate Investment Trust |
S.A. | - Société Anonyme |
(a) | Non-income producing security. |
EASTERLY HEDGED EQUITY FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) | |||||||
November 30, 2022 | |||||||
Shares | Fair Value | ||||||
EXCHANGE-TRADED FUNDS — 88.5% | |||||||
EQUITY - 88.5% | |||||||
187,500 | SPDR S&P 500 ETF Trust (a) | $ 76,440,000 | |||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $69,386,924) | 76,440,000 | ||||||
Contracts(b) | |||||||
INDEX OPTIONS PURCHASED - 1.1% | Counterparty | Expiration Date | Exercise Price | Notional Value | |||
PUT OPTIONS PURCHASED - 1.1% | |||||||
170 | S&P 500 INDEX | PER | 12/16/2022 | $ 3,900 | $ 69,361,870 | $ 302,600 | |
245 | S&P 500 INDEX | PER | 12/30/2022 | 3,900 | 99,962,695 | 706,825 | |
TOTAL PUT OPTIONS PURCHASED (Cost - $2,918,607) | 1,009,425 | ||||||
TOTAL INDEX OPTIONS PURCHASED (Cost - $2,918,607) | 1,009,425 | ||||||
EQUITY OPTIONS PURCHASED - 0.0% (c) | |||||||
PUT OPTIONS PURCHASED - 0.0%(c) | |||||||
750 | SPDR S&P 500 ETF Trust | PER | 11/30/2022 | $ 400 | $ 30,576,000 | 375 | |
TOTAL PUT OPTIONS PURCHASED (Cost - $1,680) | |||||||
TOTAL EQUITY OPTIONS PURCHASED (Cost - $1,680) | 375 | ||||||
TOTAL INVESTMENTS – 89.6% (Cost $72,307,211) | $ 77,449,800 | ||||||
CALL OPTIONS WRITTEN - (1.8)% (Proceeds - $1,271,060) | (1,531,550) | ||||||
PUT OPTIONS WRITTEN - (0.2)% (Proceeds - $875,001) | (209,400) | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 12.4% | 10,678,921 | ||||||
NET ASSETS - 100.0% | $ 86,387,771 | ||||||
Contracts(b) | |||||||
WRITTEN INDEX OPTIONS - (0.2)% | Counterparty | Expiration Date | Exercise Price | Notional Value | |||
PUT OPTIONS WRITTEN - (0.2)% | |||||||
295 | S&P 500 INDEX | PER | 12/16/2022 | $ 3,700 | $ 120,363,245 | $ 106,200 |
EASTERLY HEDGED EQUITY FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
November 30, 2022 | |||||||
Contracts(b) | |||||||
WRITTEN INDEX OPTIONS - (0.2)% | Counterparty | Expiration Date | Exercise Price | Notional Value | Fair Value | ||
PUT OPTIONS WRITTEN - (0.2)% (Continued) | |||||||
120 | S&P 500 INDEX | PER | 12/30/2022 | $ 3,700 | $ 48,961,320 | $ 103,200 | |
TOTAL PUT OPTIONS WRITTEN (Proceeds - $875,001) | 209,400 | ||||||
TOTAL INDEX OPTIONS WRITTEN (Proceeds - $875,001) | $ 209,400 | ||||||
WRITTEN EQUITY OPTIONS - (1.8)% | |||||||
CALL OPTIONS WRITTEN- (1.8)% | |||||||
850 | SPDR S&P 500 ETF Trust | PER | 12/16/2022 | $ 402 | $ 34,652,800 | $ 886,550 | |
1,200 | SPDR S&P 500 ETF Trust | PER | 12/30/2022 | 415 | 48,921,600 | 645,000 | |
TOTAL CALL OPTIONS WRITTEN (Proceeds - $1,271,060) | 1,531,550 | ||||||
TOTAL EQUITY OPTIONS WRITTEN (Proceeds - $1,271,060) | $ 1,531,550 | ||||||
ETF | - Exchange-Traded Fund |
SPDR | - Standard & Poor's Depositary Receipt |
PER | - Pershing |
(a) | A portion of this security is held as collateral for written options. |
(b) | Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security. |
(c) | Percentage rounds to less than 0.1%. |
EASTERLY HEDGED EQUITY FUND | ||||||||||||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | ||||||||||||||||
November 30, 2022 | ||||||||||||||||
TOTAL RETURN SWAP | ||||||||||||||||
Upfront | Unrealized | |||||||||||||||
Payment | Number Of | Maturity | Notional | Payments/ | Appreciation/ | |||||||||||
Description | Frequency | Long/Short | Currency | Index | Spread | Counterparty | Contracts | Date | Amount | Receipts | (Depreciation) | |||||
SPDR S&P 500 ETF Trust | Monthly | Long | USD | Federal Funds Rate | 0.55% | Goldman Sachs | 67,500 | 7/21/2023 | $29,898,898 | $ - | $ (2,380,498) | |||||
SPDR S&P 500 ETF Trust | Monthly | Long | USD | Federal Funds Rate | 0.55% | Goldman Sachs | 15,000 | 10/2/2023 | 6,004,950 | - | 110,250 | |||||
(2,270,248) |